Running a Design Business Pricing and Estimating by Let Terry Lee Stone

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Running a Design Business: Pricing and Estimating
English | .MP4 | h264, yuv420p, 960x540, 29.97 fps | aac, 48000 Hz, 159 kb/s | 454 MB
Do you know what to charge for your design services? Too much and you risk scaring away potential clients; too little and you're not compensating yourself properly.

Let Terry Lee Stone, a design manager who's priced thousands of design projects, show you how to calculate your work's true worth. She explains how to keep good records, set an hourly rate, create estimates then transform them into contracts, and successfully approach financial matters with your clients. Plus, like all the other courses in theRunning a Design Businessseries, this course includes free worksheets-including templates for evaluating your expenses and calculating your fees.

Topics include:

Thinking about money
Factors to consider when pricing design
Comparing time-based vs. component-based pricing strategies
Scoping a project
Determining your rate based on factors like industry standards and budget
Creating estimates
Communicating additional costs
Invoicing the client

About the exercise files
1. Money and Attitude
Attitudes about money
Positioning yourself for success
2. Pricing Factors
Ten factors to consider when pricing
Four design pricing philosophies
3. Pricing Strategies
Introduction to pricing strategies
Time-based pricing strategy
Project-based pricing strategy
Value-based pricing strategy
Wild-card-based pricing strategy
4. Hourly Rates
An introduction to developing an hourly rate
Determining your rate based on freelancer needs
Determining your rate based on design firm needs
Determining your rate based on industry standards
Determining your rate based on the marketplace
5. Estimating a Project
Three types of estimates: Ballpark, budgetary, and definitive
Two costs in estimates: Fees and expenses
Breaking down a project for estimating
Project P&Ls: Evaluating your estimates
6. Pricing Challenge
Challenge: Price this project
Solution: Price this project
7. Clients and Money
Ten payment strategies
Raising your rates and fees
Winning the business




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Tags: Estimating, Design, Business, Pricing
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