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Importance of both hourly and flat rates for freelance editors

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In this brief discussion, we examine the importance of hourly rates and flat rates for freelance editors, and how each can be appropriate for different customer types in the context of their financial situations. We examine two general examples of where these rates can be useful in the world of freelancing.

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With freelance writing and editing, market rates and presenting these rates as quotes to various types of customers can be a bit of a daunting task as different customers have different needs. This is why it is important to have a flexible strategy when it comes to providing quotes. In certain cases, one is better off charging by the hour by providing an hourly rate and an approximate total with the final costs being part of the invoice at the end of the job. In other cases, it is better to provide a fixed or flat rate that scales with the word count, which allows one to provide customers with a final quote before taking on the job. We'll examine a couple of examples where these approaches apply.

- When should a freelancer be charging by the hour?

When it comes to larger firms and companies, one can actually take advantage of the professional standing to charge by the hour. Quotes can generally be approximate and the final costs do indeed come with the final invoice detailing the hourly rate and the total tally of the time required to get the job done. As an added note, ...

Solution Summary

Briefly examining the importance of both hourly and flat rates and how they apply to different customer situations and financial contexts.