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Comment by everdev | Hacker News Reader

I start with the lowest rate I'm willing to accept because much of earning money is about networking and your experience.

As you gain experience and projects, increase your rate 10% on each new contract until you encounter consistent resistance.

It's a more cautious approach and takes longer but it worked for me.

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You might be able to ask for 10x your current rate, and get more business because now you look and sound like you can do the project. You'll also have less work overall since you don't have to do 10 times as much work to make the same amount of money.

It's why oracle can charge tens of thousands of dollars for software that might run 30 dollars a month from another company.

Oracle (and NetSuite) can charge tens of thousands for software because the software is worth thousands of dollars a month. Financial systems that form the backbone of your company are absolutely the one place you don't want to skimp out on your IT spend.

Spoiler alert, oracle software is world renowned for being completely shit.

Spoiler alert: Oracle can be configured to what you need it to do. It can run well, or very poorly, depending on the implementation, and it is extremely powerful from a financial planning, budgeting, and forecasting perspective once you learn the UI. Netsuite (technically now part of Oracle) is almost as powerful but much easier to use from an end-user perspective.

Also: I'm talking about Oracle the enterprise financial management system. I don't know how the database systems get licensed. But I do think it's funny that most complaints from techies about Oracle are really related to the difficulty of learning Oracle's UI or licensing, when most websites, platforms, APIs, etc. these days have worse UI and licensing that's just as bad as Oracle's.

Oracle's not the only game in town.

https://www.google.com/search?client=firefox-b-1-d&q=oracle+...

And anyway it's just an example.

10x my current rate? A 10% increase makes sense, a 10x increase sounds impossible overnight.

It doesn't mean that it's true

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