In 2018, a client of mine reached out to me to help with a new project – creating a new onboarding flow for a mobile application.
At that time, I was still primarily working at an hourly rate of $75 per hour.
But my gut feeling told me to price that project on a fixed budget.
So I estimated the project at $4800 for app onboarding designs, including research and hi-fidelity prototypes.
It took me 15 hours to complete the project. The client was happy with the results. I was satisfied with the efficiency (and profits).
The rate that came out of that collaboration was $320 per hour. If I charged hourly, I would only get $1125.
Feel the difference?