1. How to set a rate and stop working for food, t-shirts, or film credits

2. Before you can determine a rate, you have to know your annual expenses.

3. Start with an assumption that you can reasonably bill for 25 hours per week, and that youll take 2 weeks of vacation per year.

4. You cant (and dont want to) work 40+ hours per week on video projects.

5. 1. 30% taxes 2. 15% overhead costs So you need to be sure that your rate will provide enough income to cover your expenses after 45% of it is gone.

6. To net the same level of take home pay as a salaried employee, a freelancer must bill at double to triple the employees hourly rate.

7. Look up the job youre interested in at www.indeed.com/salary

8. Look up the job youre interested in at www.indeed.com/salary For our example, well use Video Producer. $51,000 per year

9. 1. Divide the annual salary by 52 Ex: $51,000 52 = $980.77 2. Divide this answer by 40 Ex: $980.77 40 = $24.52 So an EMPLOYED, SALARIED video producer would be paid $24.52 per hour.

10. $24.52 x 2.5 = $61.30 per hour

11. Half day (5 hours) = about $300 Full day (10 hours) = about $500

12. 1. $60/hr x 25 hours a week = $1500 2. $1500 x 50 work weeks per year = $75,000

13. 1. $60/hr x 25 hours a week = $1500 2. $1500 x 50 work weeks per year = $75,000 3. 30% taxes plus 15% overhead = 45% deducted

14. 1. $60/hr x 25 hours a week = $1500 2. $1500 x 50 work weeks per year = $75,000 3. 30% taxes plus 15% overhead = 45% deducted $75,000 x.45 = $33,750

15. 1. $60/hr x 25 hours a week = $1500 2. $1500 x 50 work weeks per year = $75,000 3. 30% taxes plus 15% overhead = 45% deducted $75,000 x.45 = $33,750 $75,000 - $33,750 = $41,250 Remember, your expenses were determined to be $50,000 per year.

16. 1. $75/hr x 25 hours a week = $1875 2. $1875 x 50 work weeks per year = $93,750

17. 1. $75/hr x 25 hours a week = $1875 2. $1875 x 50 work weeks per year = $93,750 3. 30% taxes plus 15% overhead = 45% deducted $93,750 x.45 = $42,187.50

18. 1. $75/hr x 25 hours a week = $1875 2. $1875 x 50 work weeks per year = $93,750 3. 30% taxes plus 15% overhead = 45% deducted $93,750 x.45 = $42,187.50 $93,750 - $42,187.50 = $51,562.50 net profit

19. 1. Know your worth.

20. 1. Know your worth. 2. Get rid of personal debt.

21. 1. Know your worth. 2. Get rid of personal debt. 3. Look into finding a part-time W-2 job (or two) or way to bring in passive income or regular income

22. 1. Know your worth. 2. Get rid of personal debt. 3. Look into finding a part-time W-2 job (or two) or way to bring in passive income or regular income 4. Know thyself.

23. Dont hire people or greatly increase your expenses in any way until you have mastered how to squeeze the most out of your revenue potential while working alone.