An hourly service is a straightforward billing model in freelancing. You agree on a set rate and charge your client for the actual time spent on their project.
What is Hourly service?
An hourly service is a billing method where a freelancer charges a client a predetermined rate for each hour of work completed. It's a direct exchange of time for money. This model is common for ongoing or scope-flexible projects.
Why is this important?
This model is crucial as it ensures you get paid for all the effort you invest, especially on tasks with unclear boundaries. It protects your income if a project requires more revisions or takes longer than initially estimated.
How does it work?
You and the client agree on an hourly rate and often use a time-tracking tool. You log your work hours, which are then compiled into an invoice, typically weekly or monthly. Payment is made for the total logged time.
Pros and cons
Key advantages include fair compensation for all work and simplicity for open-ended tasks. The main drawbacks are the need for meticulous time tracking and the potential for clients to question your efficiency or the total hours billed.
Conclusion
The hourly service model is a fundamental and fair way to bill for freelance work. It's best suited for projects where the scope is difficult to define upfront. Understanding when to use it is a key skill for managing your freelance business effectively.
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