Article for Copywriters: How Much Are You Worth?

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October 2002
Issue # 17

In this issue:

>> Intro: How You Allocate Your Time in Writing
>> Article: How Much Are You Worth?
>> Readers Write Back: Fresh Vanilla Ice Cream
>> Survey: How Good at Estimating Are You?

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Greetings,

In the last issue's survey I asked how much time you spent in preparing before you start writing, how much on the first draft itself, and how much on rewrites.

Here are the results.

% of time spent on preparation: Highest-50 - Lowest-10 - Average-35
% of time spent on first draft: Highest-55 - Lowest-10 - Average-31
% of time spent on rewrites: Highest-60 - Lowest-15 - Average-33

While the averages don't tell us much, the highs and lows show some big differences. I don't imagine that these are any indicator of how good or bad a particualr copywriter may be. More likely, the differences simply indicate some very different ways of thinking and writing.

In this week's survey, I thought it might be interesting to find out how good the freelancers among us are at estimating our jobs. Are you a good estimater? Or not?

Btw - I'm in Boston right now, speaking at Jared Spool's User Interface Engineering Conference. If any of you are attending, please come up and say hi. You never know, I might have a couple of drinks vouchers spare.

Until next time,

Nick

>> Feedback: nick@nickusborne.com

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ARTICLE: HOW MUCH ARE YOU WORTH?

I don't know about you, but the prices I charge for my services tend to wander around a bit.

I offer pricing by the hour, day or per contract. In addition to the copywriting and consulting work I do, I also have to figure out the pricing for my speaking engagements.

For myself, and for my clients, it would be nice if I always knew exactly what the right price was for any particular job.

But it never seems to work that way.

Some clients will always want to compare what I charge against the pricing of other copywriters. Then there are regional differences. Differences between countries. The ups and downs of the economy. And the size of the client company itself often has an impact.

In the end, I send in an estimate based on my best guess of what is fair to both parties.

The trouble is, often I only get a real sense of what I should charge when I am well into the job.

Once I am a good way through the project, I find I have some kind of inner sense of whether the price was right or not.

The worst feeling, for me, is when I feel that I am delivering a substantial amount more than I estimated for. I feel uncomfortable, irritated.

There has been many a time that I wished I had a little better foresight, and could tap into this inner sense right up front.

Here's my advice to anyone struggling over an estimate. Never pitch the price so low that you get that uncomfortable feeling half way through the work.

That feeling that you're getting less than you're worth can be, at best, distracting. And, at worst, damaging to the quality of your work.

>> To browse the many articles on my site, go to... http://www.nickusborne.com/articles.htm

>> Feedback: nick@nickusborne.com

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READERS WRITE BACK:

Here are some interesting thoughts that were added to the 'Comments' part of the last survey.

"Prepare as you write. Too much preparation will destroy the flow in your writing - you have too much too say and have no eye for the improvisations that will make your text better."

"Though I have done my share of major revisions, I usually try to get it right the first time. I find it saves me more time if I can think it through from beginning to end. Yes, I do use outlines. My philosophy is: If I know what I want to write, then how I write it is made a whole lot easier."

"If I can't nail it correctly the first two - three times, then I leave it alone, ignoring it, and come back to it. Usually after two days, it's either the most embarassing thing I've ever written, or it's the best thing next to fresh vanilla ice cream (real vanilla ice cream), topped with whipped cream, hot fudge (freshly made with real chocolate) and followed by a cup of cold water for the ice-cream headache!"

>> Feedback: nick@nickusborne.com

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SURVEY: HOW GOOD AT ESTIMATING ARE YOU?

If you do any freelance copywriting, how would you rate yourself when it comes to submitting estimates?

[ ] I'm usually pretty good at it. Not too low, not too high.
[ ] I often estimate too low and then regret it.
[ ] I tend to over-estimate and usually get away with it!

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