An easier way to earn more money is to raise rates but you can’t increase your rates often but that does not mean you cannot earn more often.
Here are few ways you can increase your earnings without increasing your rates.
1. Be More Productive
I prefer fixed pricing (read why I prefer fixed pricing) over an hourly job as it helps me earn more by being more productive. If I can deliver the same quality of work in less time, I make more money.
Being more productive can mean you can demand better rates in the future as well.
If you can outsource, you should outsource.
If you can find someone who can get the job done for you within the deadline and charges less than you can charge your client, outsource it and pocket the difference in price.
It doesn’t matter if you outsource to an individual or a company.
3. Additional Services
Offer additional services that your client may be interested in and boost your overall income for a project.
Here are few additional services that freelancers can offer.
4. Repackage Services
Repackage what you offer to up-sell.
Offer minimum committed billable hours per week where you commit at least X hours per week. You may eventually work fewer hours and still get paid the minimum billable hours.
You can apply the same concept of minimum billable hours to daily or a minimum amount being charged per task.
5. Price Bands
Offer a price band instead of flat hourly rate.
Smaller projects of under 10 hours of work can have higher hourly rate compared to clients who upfront commit 20+ hours of work and so on and so forth.
6. Consultation Services
Calls for understanding project requirements can be part of the project but there are many meetings and Skype calls that aren’t part of the project and clients want advice.
Offer consultation services where you charge clients for such consultation or advice for your expertise.
Further Reading …