
Ask HN: How to ask for an hourly rate - somid3
This is a recurring problem for me. Many friends contact me asking for help for their startups and ideas. I on the other hand wish to help them, but the notion of getting equity for a huge-risky-project is of no interest to me. What is the best way to introduce the topic that they should pay at least $50&#x2F;hr for help. How do you do it?
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mswen
I think of my time as a finite resource that requires allocation. I have big
buckets into which I divide these roughly like the following.

Professional Work

> Short-term revenue (freelance/consulting) hourly/day rate

> Long-term deferred at-risk revenue (my own product-like projects and equity
> based compensation arrangements)

> Charity (this could include favors to friends, work donated or deeply
> discounted to a non profit org that you support and open source
> contributions) in this category you are working for intangibles like the
> common good, reputation and the satisfaction of having contributed to
> something bigger than your own direct interests.

Personal Life

> Interpersonal relationships (family, friends, neighbors etc.)

> Faith community or causes that you support (direct participation - may have
> little or nothing to do with your professional skills)

> Personal development - exercise, learning etc.

> Leisure/Entertainment

When friends approach you with their great idea - you can explain you only
have so much time and it is not prudent to put too much of it in the deferred
at-risk revenue bucket. If they are willing to move it to the short-term
revenue bucket you can consider them as a client but your at-risk bucket is
already full. If you feel like they are a good enough friend that you might
just do it as a favor then do it as an investment in your friendship but limit
your time to something comparable to helping your friend build a new deck on
his house ...the kind of time investment that is appropriate among friends.
However, if you do this as a favor be clear about what you are doing, where
the limit is and that you are not committing to long-term support.

Hope this is helpful in some way.

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colept
I suggest watching this talk: [https://creativemornings.com/talks/mike-
monteiro--2/1](https://creativemornings.com/talks/mike-monteiro--2/1)

The speaker is eccentric and sometimes unhinged but many freelancers need to
hear it.

~~~
somid3
Amazing video, thanks!

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jamesmp98
Just do it. If they are not willing to pay, they are not committed to the
project enough.

