How Much?

When working on a project, how much do you really account for the cost to complete a project?

Recently, I had the opportunity to make a custom motorcycle helmet for someone. Now, I’m not known to do this type of work, nor did I have the experience necessary to properly understand the scope of work it would take to complete such a request.

Instead of avoiding the question, I made the mistake of quoting a price while shrugging my shoulders. This meant I had no real idea how much time it would take, yet I placed a price on the table. I also quoted that the task would take roughly two weeks of work… why was I so sure of myself when I had never done it before? Most likely I felt it was more important to sound professional by having answers when in reality, asking question and reserving solutions until fully understanding the situation is the real sign of professionalism.

So two months later, the helmet was completed and a lot of steps were revealed along the way. Needless to say, the client walked away with a steal and thankfully he possessed a lot of patients. For the amount of time and energy it took to do the work properly, I would argue that I was 2/3 under-priced. So where did I go wrong? What steps did I not take into account?

I realized that I agreed to projects without confidence, accepting their trust in my abilities as charity and discounted those abilities at an amateur rate having felt so grateful for the opportunities. I was far beyond any form of an amateur at this stage of my career, yet my insecure self as a child somehow still had influence over me.

Regardless of your experience level, being an amateur still requires time away from doing everything else in your life and valuing yourself at an amateur rate would never make up for your lost time and energy.

There is a base cost that should be validated, void of the skill or expertise of the person executing any work.

First, think about the supplies required to complete the work. What do you already own and what do you need to buy?As for that equipment, you need to account for several things. There is a cost to already owning the equipment. If you need to use a camera for the project, what is the standard cost for renting a camera for a day? You need to include that cost into your price quote.

Next, think about the amount of times you have to travel to complete the work. Every mile needs to be accounted if you are driving errands specifically for the project. I can’t tell you how many times, I never considered the back and forth driving I did to meet the client, go out for supplies or picking up/dropping off work throughout the process.

Next, think about the physical labor involved. This is your actual hours spent staring, thinking and making the work. I personally default to the hourly rate system on smaller projects because it lets the client know that your time is precious and that each hour logged is accounted towards their success. You need to always consider any additional manpower. Do you need assistance to complete the work? Have you and your client discussed additional elements outside of your capabilities? I hired on a videographer to document the helmet’s progress, because it took two months, I did not budget for that amount of time, so after paying him for his time, I was left with nothing.

Finally, think about the possibility of revisions and the unexpected headaches that will inevitably come. To protect yourself and spare the headache of begging for more time and money, set up a “revision clause” that states an additional charge for any unexpected additional work in order to complete the project.

-Busy Brain