When you work with freelancing sites, you will need to place a bid on the specific project that you are interested in. The bid amount is basically one of the most important parts of the equation for success. It is one of the first things that a potential client looks at and since we all try to save money and make more profit, payment negotiations are very common for almost every single contract that is signed.
How Much Is A Good Bid?
That depends on many different factors. As you gain more experience as a freelancer, you will easily realize the best ways in which you can make everything work well for your business. You will immediately see how much to bid. However, when you are just starting out, this is definitely difficult!
The most important part is to make sure that the bid is realistic. It should not be too low, too high and has to be competitive! Many freelancers just look at the average bid that they see on a site and then they put the same amount or lower. That is not what you should do! You should never be afraid to simply bid higher! All that you need to do is to make sure that the price is not too high and that you can justify why you are asking for more. Just think about it for a second! Who would you rather higher to take care of your business? A manager that has a resume that includes multi-national companies and that proved he was successful or a grad student that only managed his father’s shop? If you have experience and you know that you are better than the competition, show the client that and tell him why you should be paid more!
All unrealistic bids are likely to be dismissed immediately. If you just want a lot of money and you want to be paid in advance, nobody will ever hire you! A freelancer’s life is marked by ups and downs. The most important part is gaining more experience and becoming better known. You need to keep making money and to keep growing the amount that you charge until a maximum amount that IS JUSTIFIED. After that the expansion should be handled differently.
Getting back to your bid amount, one important piece of advice is to take a look at the budget that the client highlighted. This is information that is offered on many sites like Elance, ODesk and Freelancer. See that amount, do your math and then see how much you should be paid based on your portfolio, experience and reputation!