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Pricing Strategy 1 – Hourly Rates
What Is It:
Hourly rates are perhaps the simplest pricing strategy. You charge your client based on the number of hours you work on their project. This method is often used by freelancers in a variety of industries, from design to consulting to writing.

When to Use:
Hourly rates are ideal for short-term projects or situations where the scope of work is unclear. For example, if you’re taking on a new client or working on a project where deliverables and timelines are still evolving, charging by the hour provides flexibility.

Pros and cons:
Pros :
It is easy to calculate and follow.
Suitable for projects with uncertain timelines or scope.
Cons :
It can penalize productivity; if you're paid hourly, you may oman whatsapp number database be discouraged from working quickly.
The possibility of your income being inconsistent makes it difficult to predict your monthly earnings.
How to Determine Your Hourly Rate:
To calculate your hourly wage, start by determining your desired annual income, then factor in your working hours. Use a simple formula: