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When you take on a new project, you take on a very specific per-hour rate - either an agreed upon rate ($40/hr, and I told the client it should take about 10 hours) or a per project rate ($400, but I think it will take 10 hours, so that’s $40/hr). But for far too many freelancers, that rate is never, ever achieved. In fact, most will face the reality that they make far less than their intended rate. Why so? Because a) they fail to estimate the scope of the project correctly, and b) they don’t get honest with how long things really take.