Ranging from 0 (no debt) to High multiples. My status: no debt. Why it is important: Debt creates extra pressure to take on any work and makes us less likely to turn down unattractive gigs. It leaves us more exposed to financial risks overall, eventually going bad to worse if our income declines.

Ranging from None to covering Next generation(s). My status: decades. Importance: If we have strong reserves, we can afford to wait for ideal clients, where in turn we deliver greater value, eventually leading to higher profits. It also creates more space for proper rest, further strengthening our productivity.

Ranging from None to Years. My status: a couple of months. Importance: Pre-selling services is as close to sure income as one can get as a freelancer. However, too much of it can hurt our ability to jump on new opportunities. You can think of pre-sales as a next stage beyond full advance payments.

Ranging from None to 100%. My status: ca. 20 %. Importance: Free work capacity, client demand, and price are tightly related variables in freelance business. In my case, lower capacity leads to a higher price, which in turn leads to lower demand for my services and increasing capacity once again.

Ranging from €20 to €5,000+ per hour. My status: €1,250/hour. Importance: I work with multiple pricing methods as a business consultant. However, the tried-and-true hourly rate is a standard measure in our industry. Most consultants use it, even if just to signal their level of expertise. Also, knowing the breadth of the price scale in your industry is a vital prerequisite for pricing strategy.

Ranging from None to Extreme. My status: medium. Importance: No matter what your “standard” price is, a certain level of flexibility is common among freelancers. While having no flexibility may rob you of possibilities, an extreme one would make you prone to exploits. There’s a sweet spot in the middle.

Ranging from Negative to High. My status: medium to high. Importance: In short, having pricing power means that you can raise pricing without losing important clients. Having none is obviously bad. However, having a high one without using it is a widely underestimated problem among freelancers.