Costing is essential to the success of a project, and your bank balance. This talk showed the importance of accurate and fair costing for projects.
- Friends and family are a no-go. Someone will only end up getting hurt and disappointed, it isn't worth it.
- Costing is based on the amount of time you will spend on a project, how much over heads are and how much you need to live. Doing a job is pointless if you don't benefit from it. Never work for free!
- Never undercut other designer's prices intentionally. This will only bring the cost for other designers down and, essentially, run the industry into the ground.
- There is an element of risk to each new project, more so with new clients. Ask up front what the budget is. If it isn't enough walk away. Consider swapping services as a form of payment. Can they help you in any way?
- Bare in mind that outsourcing is always a possibility and you must budget for that within the price.
This talk contained many other points that are invaluable for any freelancer. One of the big points to this talk was, never be afraid to talk about money. you are providing a service that the client needs at the end of the day.