Ajay, The Good, The Bad…

Ajay,

Hope your business is doing well.

Today I want to start a three part email series called "The Good, The Bad and The Ugly." Over the next 3 days we will look at three projects I have tackled since launching my web design business on Jan 12th.

These three projects will give you a good overview of the do's and don'ts of pricing, project management and working with clients. Today we are going to start with "The Good."

The Good Project:

This client called me in a bit of a panic. They had an existing website that needed some updates. Then two days after our call, their website went down. The project was going to require a lot of troubleshooting, so I had no clue how long it would take. Because I was unsure of the scope of the project, I quoted them a price of $65.00 per hour.

Structuring this project on a hourly rate saved me. The project should have only taken 2-3 hours. Instead it took almost 8. If I had quoted a fixed fee, I would have barely made minimum wage.

The big takeaway. Never quote a fixed fee when you do not have a good idea of the scope of the project. Always quote an hourly rate.

You may be thinking… "If an hourly rate protects you from under-bidding a project, why not ALWAYS quote an hourly rate?" Well… clients. Clients prefer a fixed bid. They don't like the idea of a project with unknown costs.

One option is to use a kind of hybrid model. Clients pay you hourly, with a cap on the number of hours. There is really no right or wrong when it comes to the model you choose in pricing. The key is define the scope of the project and set expectations with your client.

We will be discussing this on our coaching call this week. If you would like to find out more, you can check out the details here:

http://www.on2url.com/lnk?MTg0MDU5MnwxMTU1Mzc2Njc3fHM9MQ%3D%3D


That link will take you to a coaching program I just launched. I am helping a small group of web designers break through barriers and finally reach their goals in 2016. If you have any questions about the coaching program just reply to this email.


Now let's take a look at the business stats.


Official Business Launch: January 12, 2016 at 10:09 a.m.

Key Performance Metrics (KPM) through Feb 7, 2016 (21 days total)

Visitors - 58
Leads - 41
Sales - 6
Customers - 5
Sales Revenue - $1,789.00
Expenses - $237.32 (These represent Marketing expenses so far)
Profit - $ (Will update at the end of the month)

Time Spent - 68.0 hours

I have launched 7 different marketing campaigns. Here is what I am testing so far… Google Adwords, Craigslist, Periscope, Thumbtack, Bing Ads, Twitter and Bulletin Boards.


To your success,


Conrad Feagin
LearnWebDevelopment.com - Learn. Soar. Get Ahead.


P.S. I am looking for few web designers who want to expand their business in 2016. If you are interested, follow this link for the details:

http://www.on2url.com/lnk?MTg0MDU5M3wxMTU1Mzc2Njc3fHM9MQ%3D%3D
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TechnicalLead.com, Inc.
PO Box 1355
McKinney, TX 75070
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