Happy Friday! You made it. LFG 💪
Now let’s get you caught up before Happy Hour starts…
Making the Rounds
- One-click checkout company Bolt announces layoffs. Despite raising $355 million in new funding at a valuation of $11 billion dollars a few months ago, the fintech unicorn is handing some employees their walking papers. Timez iz hard on the boulevard for tech companies these days.
- Jack Dorsey says ✌️ to Twitter’s board of directors. His exit was made official on Wednesday. TBD whether he’ll roll over his 2.4% ownership stake into Elon’s bid to take the company private or cash it out. Speaking of the takeover…
- Elon steps up personal Twitter commitment to $33.5 billion. In a new filing that sent the price of Twitter shares up and Tesla shares down, Musk revealed he’s increasing his own commitment to the deal. He’s also expected to serve as a temporary CEO. Because it’s not like he has anything else to do.
Working With Clients
3 Pricing Tips For New Freelancers
TIP #1: Charge by deliverable (not by the hour)
If you’re a new freelancer, you may be tempted to start off charging by the hour.
But charging by the hour incentivizes you to work slower.
Instead, charge clients per:
– landing page
– sales page
This way, there are no unexpected surprises for them if the job takes longer…
And you get rewarded if you can get it done quicker.
TIP #2: Ask for a 50% deposit.
Asking for a deposit helps weed out low-quality clients.
So if they’re not willing to pay you a portion of your fee up front, proceed with caution.
But if the idea of asking for money up front makes your palms sweaty, you could always reduce the amount to 25%.
One final caveat:
If it’s a small project (like under $100-$200), just ask for the full amount up front instead.
TIP #3: Get approval on pre-work if possible
Since you’re asking for a deposit, you want to make sure your first draft isn’t way off base so the client doesn’t feel like they’ve paid you for nothing.
The best way to do this is get pre-work approved.
In the case of copy, this could be an outline.
In the case of an image or video, this could be a creative brief
In the case of an ad campaign, this could be a campaign mockup.
Regardless of what your service is, getting the greenlight on pre-work will save you time and make clients happier.
Working For Yourself
Early Morning Slack DMs Beware
Do you know what your chronotype is?
According to Healthline, a chronotype is “…a person’s circadian typology or the individual differences in activity and alertness in the morning and evening.”
In other words…
Your chronotype reflects when your most creative and productive hours are.
For your humble newsletter writer, that’s typically between 6 and 9 AM.
But for you, it might be later in the day.
Either way, the bottom line is:
Find out what time of day you’re usually at your best, and protect those hours like your very own Time Stone.
Because not all time is made equal.
And the secret to maintaining peak productivity is focusing on energy — not time.
From The Paid Ads Gig
Trust the AI? I Think Not
Ad platforms like Meta and Google have been shepherding media buyers away from manual controls for years now.
One example of this is automated bidding.
Instead of setting your own bids or cost caps, they encourage you to use automated bidding instead.
But here’s the problem…
Ad pixels are typically trained to optimize for the lowest cost per conversion.
And which do you think costs less to acquire…
The crap leads or the high-quality leads?
We’ll give you a hint: it’s not the high-quality leads 🙃
So the end result is you get more volume, but lower quality.
How do you fix this?
By testing manual bid or cost caps instead of (or alongside) automated bidding.
This lets you take back the wheel from the pixel AI so you can improve your lead quality and reduce wasted ad spend.
Now in case it’s been a while since you toyed around with these settings…
Quote of the Day
“Luck is a very thin wire between survival and disaster, and not many people can keep their balance on it.”
— Hunter S. Thompson