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Bidding Tips That Are Worth Gold for Freelancers Freelancing can be a lucrative way to turn your talent and experience into high payout and recognition. Whether you are good at programming, content writing, designing, art, marketing, administrative tasks, photography or business consulting, there is an ample demand of freelancers in current job market. It is a win-win situation for both – employers or entrepreneurs and freelancers out there. Even large corporations and resellers are most likely to use freelancers for a variety of project tasks time to time. This goes on round the year. The demand and opportunity is everywhere in freelance markets - anytime you want to make an entry. Yet, freelancers fail at times. Why?

Bidding on Freelance projects is tough Attaining success in freelancing field is not that easy as it seems. There are thousands of part-time professionals and freelancers out there who have similar set of skills, temperament and experience to work at lower price than you. The competition is huge, irrespective of freelance jobs being overflowed in almost every freelance portal. The demand and supply ratio is 50:50, yet the chance of winning quality, high worth projects is not that convincing. Employers usually accept project bids from multiple service providers so as to ascertain they are getting best quality work at fair price. Therefore, your chance to win a bid is completely left to how employers filter you among hundreds of other participants. Sometimes it is luck by chance factor, but most of the time it is your profile and bidding process that counts. Moreover, not all freelance jobs are equally good and the payouts may not be adequate too. This raises further issues when you maintain a standard rate and standard time for a certain job. There are competent freelancers of different mindset and expectations, so fighting with all of them for a single project and getting your position right bang on target is not easy. If you bid the lowest price chances are there you will win the contract easily, but underselling yourself can cause quick burnout. Would you be happy continuing with double workload at peanuts? You cannot work long with an empty pocketbook, especially when others are earning handsome amount for the same effort you are putting. On the contrary, you cannot oversell your service since project owners have fair idea on bidding strategies. The only way to win a bid is to show that the price you are asking is worth the talent. Anything less or more than that wouldn’t be accepted. Therefore, learning bidding techniques is crucial for every freelancer out on job.

If you are struggling with bidding process and not being able to grab high-worth freelance projects, here are a few simple tips you may consider significant.

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Find projects that your talent is worth of. Most of the freelancing sites allow freelancers to search for projects by type and interest. You should narrow down your search for appropriate projects that you are confident of bidding. Be specific in your requirements.

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Dig more about the person or business (who did project posting) you are interested. Read out the bios and statistics of buyers in detail. Freelancing sites generally provide information on buyer’s payment history, ratio between awarded and abandoned projects, reviews from freelancers. Visiting employer’s website would also be a helpful guide.

Do a research on similar projects that the project holder has recently completed on the freelancing site. You can also check out the winning bid amounts. This will give you a fair idea about the average and ongoing rate for similar type of jobs that you want to bid for.

You have two ways to determine bid amount. First, use previously awarded projects as a guide and second, consider the number of work hours you will require to complete this job. Just multiply the hours with the hourly rate you ask.

Consolidate documents of your experience as a freelancer and represent it well to potential employers. Prove that you are the right candidate for the job. If you are thorough with the project scope, add a timeline to your bid which will include milestones and completion dates for all projects.

Prepare a cover letter that will outline the brief of your bid proposal. The proposal should explain how much you expect to be paid, how long will it take to accomplish the job and why you are the right fit for the job.

Let the client know more about you, your business and testimonials. You can add your website link or provide sample works done as attachments.

Be particular about payment terms of your bid. If you need partial payment, tell it to your client upfront. It is better that you clarify each of your payment related queries well before the project gets started. If you want to set up a milestone for payment schedule inform the same during final agreement. The buyer may disagree to pay you upfront if requested after the project has been awarded.

Make sure you discuss about the emergencies and sudden mid-term changes in project scopes to be assigned. This may require you to spend extra work hours during the course of project. Therefore get clear about the additional payouts you deserve.

Following these guidelines will help you improve your bidding techniques. Stick to all the given considerations and you will find an easy success very soon.

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Bidding Tips That Are Worth Gold for Freelancers