C.J. Hayden, Contributing Editor
"I have plenty of work coming in," my clients often tell me, "but I'm not getting paid enough for it. Every project seems to take longer than I anticipated, and I end up putting in a lot of unpaid hours. How can I fix this?"
If this problem sounds all too familiar, there are two likely causes. You may be underestimating the amount of time a job will require when you put a price tag on it, or you may not be negotiating adequately with the client at the outset of the project.
Estimating A Project's Scope
Let's look at the estimating process first. To make an accurate estimate of the scope of a project, you need to gather a substantial amount of information from the client. It's essential not to quote a firm price until you know what you're bidding on. Here are some questions you'll want to know the answer to before setting a price:
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