Submitting successful proposals
The key to sending a great proposal is based on knowing how to interpret what the client needs, not only technically, but also in a professional manner. This is something you will be able to read between the lines of each project description and use it to customize your proposal in the best way possible to tailor it to the specific requirements.
It is important to consider that the percentage of won projects is about 15% to 20% of all proposals sent.
Take into account that placing a bid is not only the means to win a project, there are many other benefits from sending proposals to potential clients.
• Introducing yourself: Each time you send a proposal for a project in which you are interested, you will be introducing yourself to new clients. The more bids you send, the stronger your presence will be. A client may not hire you then, but they will get to know your potential, take a look at your proposal, and may want to talk to you again on the next project they post.
• More proposals sent = More chances of being chosen: Don’t be afraid of sending too many proposals; you will always be able to reject the projects you win if you don’t have enough time to complete them. Remember that you have 24 hours to reject a project and this will not affect your rating.
The contacts you make are essential in defining your career as a freelance professional, make sure you make the most of them.
Planning your month and projecting for the next one
We know that it sometimes may be difficult to manage your time as a freelancer having an income that varies from month to month based on the projects you win and complete.
However, there are ways that can help you handle your time efficiently and work calmly.
Set your schedule
The best way to plan your month is to set your own schedule. The most important thing here is:
• How many hours do I have available this month for new projects?
• How many projects am I working on right now and when are their deadlines?
Once you have answered these questions, we can go to the next step:
Projecting your own expected income
It is really important that you can make a list of your monthly expenses to better understand which is the amount that you need each month, and define which is the amount that you really want to earn.
Make a list of your fixed costs.
Make a list of your variable costs.
Calculate your average monthly expected income based on the two items above.
If you have unfinished projects this month, you could project these amounts for your income next month.
For example, you have two projects for 250 USD and 350 USD, respectively, that you have to complete this month. You know that you will receive an income of 600 USD at the beginning of next month.
If your monthly expected income is, for example, 1000 USD, you will need to close 1 or 2 additional projects in the short term amounting to 400 USD. For this purpose, you will have to calculate the average number of proposals you submit each month and the average number of projects you win based on them, to learn how many proposals you need to send.
Considering that, on average, 15% to 20% of proposals sent result in won projects, you will need to send about 15 proposals to ensure the additional expected income.
When sending proposals, you will have to check that deadlines are in the short term and that you will be able to complete the projects in a timely manner.
You will also have to take into account the period that runs between the time you send a proposal and the time it is accepted. We always encourage to be very attentive to the new projects that are posted and to send proposals as soon as possible, because this way you may find the clients online and pleasantly surprise them with your contact.
Remember that your ranking will always be affected if you accept projects that you are not able to complete, and this will reduce your chances for growth in the future.
Maintaining a 100% Response Rate
Sending proposals should become almost a daily routine. A part of your day should be devoted to sending bids and answering questions from clients interested in them. A great way to do so is dividing the hours available in a day and devoting, for example, 2 hours a day to this task: 1 hour to send new proposals and 1 hour to answer all the questions you may have received.
The Response Rate you have with your clients shows how active your communications are and how much attention you give to your potential clients.
This rate applies to your replies for all projects in which a professional has still not been chosen.
Keeping your communications organized and making sure no messages are left unanswered will help you increase this rate. Click on “See My Messages” to have direct access to your unanswered messages only, this will make it easier to answer them.
Once you have reviewed new projects and answered all questions, it’s time to get to work on the projects you have already won.
Please note that your replies are assessed based on an algorithm that calculates your ranking position. According to this rate, your ranking will go up or down based on your activity.
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