If you can help it. Never ever get paid by the hour or by the day as a consultant or freelancer.
Your pricing strategy should be to get paid by the package or the offering.
Would a chef charge $10 an hour just because the oven cooks a meal faster or would she charge $40 per plate?
Be like a chef. Charge per offering not per hour.
Create different tiers of packages if you have to but never ever by the hour.
If I find out that you are charging by the hour, I will find you and maybe pour water on you.
Many times pricing according to time shows a client that you do not understand value creation.
Why you should not price according to time spent
When you price only according to the time spent, your service is devalued.
What about your expertise, research, hidden costs etc that were not factored in?
A great service is a culmination of many tangible and intangible things.
In my experience 9 out of 10 entrepreneurs are charging less than half of what they should charge for the value they create.
One of the best books on value based pricing models for freelancers and how to charge correctly is called Breaking The Time Barrier by Mike Mcderment
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