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104

Want to get ahead of the game and im thinking i should bill invoices at a reduced rate to avoid a potential contract problem due to being too expensive. Good idea or not really? Im just thinking my current rate is too expensive and given the new glut of tech workers i dont want to prcie myself too high

Want to get ahead of the game and im thinking i should bill invoices at a reduced rate to avoid a potential contract problem due to being too expensive. Good idea or not really? Im just thinking my current rate is too expensive and given the new glut of tech workers i dont want to prcie myself too high

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[–] • 11 pts

Billing at the same rate you've been using functionally is billing at a lower rate right now.

[–] [deleted] • 1 pt

I understand inflation wise you lose every money on invoicing. But the way i see it, desperate tech workers will try snagging jobs on the cheap, so decreasing my rate by 25% or so is a good way of hedging against predatory libs. Right now i charge around 100$/hr or so, and was thinking decreasing to around 65

[–] • 3 pts

No dont do it. If your work is worth it. They will pay.

[–] [deleted] • 0 pt

My main concern is all the doom and gloom out there makes me think i should offer some incentive to the customer to be able to justify the high price. I have zero confidence my skills in and off themselves are honestly worth that much, especially given that everyone is firing right now causing a huge uptick in supply

[–] [deleted] • 1 pt (edited )

I work in custom software development (own a company). We increase rates, no issues with customers. They'll pay, it's hard to find good coders.

The general way I was taught to adjust pricing is that if you have maxed out your possible output, you need to raise output (hiring) or raise prices. If you are freelancing, you cannot raise your output, only your prices. If you REGULARLY don't have enough work, then you need to lower your price (while keeping in mind that there are fat months and skinny months, and that there is always some seasonality to work IE companies looking to make costs towards the end of the year to reduce tax burdon)

[–] • 0 pt

Don't. Just ask your customer if they really want to save $5 hiring the guy Twitter couldn't find a use for.

[–] • 4 pts

Are the customers white? Give them a slightly better rate.

[–] [deleted] • 0 pt

Very very white, with a 1% mix of middle eastern

[–] • 2 pts

Are you losing customers? Are you not closing new customers? I just had a conversation about dropping some of our prices, but that was based on some deals we lost and feedback from good customers, that are being honest with us about what other people are doing things for. We do have room to drop our prices so we're doing it.

We will only lower our prices to a level thats tenable for staying in business. Last time the economy crunched, we started seeing bids come in that we knew would lead to the people putting those numbers out there to go out of business. We held our product, and waited for them to fold, which they did in about 8 months.

[–] • 1 pt

When liquidity is high, a glut of low-performance consultants exist billing high rates. Industry term, they're "the fat". The rate is not relevant, the productivity is - they do just enough to justify whatever rate they demand (as a stereotype, not absolute).

When liquidity is low, the inverse scenario is usually more prevalent. The businesses need absolute precision from all execution. The glut of "the fat" are culled as cost-savings to keep the business afloat. The 20% who do all the work, can now ask for even higher rates because their productivity determines if the business lives or dies (from the 80/20 rule, or Pareto principle).

If you're the 80% of waste, hope you had savings. If you're the 20% of the Builders, you should consider doubling your rate - especially because your competition would probably currently pay it.

Enjoy.

[–] • 0 pt

What do you do?

Construction materials are still high, and expected to rise so I wouldn't lower my prices, you're lowering by staying the same.

If you're coding or programming, feel free as the only thing changing is the cost of your time.

[–] • 0 pt

No. Inflation is raising your cost of living, and that of everyone else.

Yea, there will be cut rate bullshit artists who lower their rates, and you may lose a small amount of business to them.

If you aren't better than those people, then yes, you gotta match them. If you are better, let parsimonious people take the shit work. You can charge even more to fix shoddy work. And there's no better advert for your work, than seeing the competition.

[–] • 0 pt

Do what you feel it is right? If you can afford it and help others; why not? You could always take the other (((path))) too.

[–] • 0 pt

Don't race to the bottom.

[–] • 0 pt

Bill higher due to inflation.

[–] • 0 pt

Market discovery: see what's going rate is, price higher, if you don't get enough business lower your price.

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