|I've been freelancing for over a year now (doing embedded software engineering). I raised my rate a few months ago from $52 to $64 per hour. Things are going well and I plan on raising them again soon.|
Recently, I've had some very small, bootstrapped start-ups contact me for quotes to do projects. They can't afford my normal rates. I ended up doing a very small project for one company for what came out to about $25/hour.
Recently another small start-up contacted me about doing a project which I estimated would take about 4-6 weeks working part-time. A fixed rate of $2000 (about $20/hour). This is for building/programming the first prototype/MVP. It's an exciting project and I think it will be successfully launched, but I can't work for that little.
How can I get more compensation for my work? Cash - they don't have much. Equity - no idea. Promise of future work - I have no problem finding work. Share in future profits - that would be nice.
Any advice or recommendations?