Portfolio Vs. Profit: Deciding Whether To Discount Your First Projects
Many new consultants and freelancers ask me how to land their first few projects. Should you work for free or at a discounted rate to gain exposure?
I’ve struggled with this question and my consulting path, so I’m sharing my experience to help you make the best choice. I wrote this blog as a subset of Insights In Top 3 Functions For Solo Consultants.
You need 2 minutes to read this.
Related:
Story: Premium Projects But Hobby Portfolio
When I started consulting in 2021, I charged premium prices for my first few projects. It was a bold move, and it gave me confidence in charging what my expertise was worth.
However, these projects didn’t last as long as I’d like. And, I didn’t spend time to create case studies early on.
In contrast, my hobby in content creation—like writing blogs, making videos, and managing freelancers—became a valuable asset. These unpaid "projects" demonstrated my skills in marketing, delegation, and scaling operations. They built my credibility in product management, marketing, and growth.
Early Projects Can Lead to Big Breaks
If I were to do it all over again, I’d start with a few low-cost projects specifically for building case studies.
Case studies give you proof, something tangible to show future clients. They make it easier to convert prospects into paying customers.
One insight I’ve heard from other consultants is that early projects—even if done for free—often lead to referrals. You do good work, and word of mouth spreads. Those first clients become your advocates. They tell people about you, and suddenly, you’re in business. For example, I spoke to a consultant who did a free project for a non-profit that turned into strong referrals that led to paying projects.
Mitigating Pricing Low Worries
A common worry is, “What if I can’t raise my prices later?”
Risk: You win a long-term client early on at a low rate. But after a while, you feel stuck earning less than you deserve.
Mitigation:
Set a fixed timeframe.
Charge the discounted rate for an initial phase, like 3 months, and make it clear that rates may increase afterward.
You could portray future work as add-on projects and charge a higher rate, ensuring you’re rewarded as the scope grows.
Risk: Public pricing makes it hard to increase rates later.
Mitigation: As a B2B service business, avoid listing rates on your site.
If you do, add an expiry date, like “valid until March 1, 2025,” to allow future price adjustments.
The Path Forward
My strong recommendation for anyone starting out is to focus on building a portfolio first. Low-cost or pro-bono projects designed for case studies will strengthen your credibility, make future client conversions easier, and potentially lead to referrals. Think of early projects as stepping stones—they may not pay much now, but they can lead to bigger opportunities later.
Related: