Are you actually charging enough? Let’s do some maths quickly to see what you should charge per hour.
How much do you want to earn a month?
How much do you want to work per month?
I want to earn £10k a month and I want to work 30 hours a week. I also want 8 weeks holiday per year.
Realistically of those 30 hours per week 6 will be non chargeable. Rough maths let’s say that’s £115 per hour I need to charge minimum.
But then we need to consider tax, expenses, pensions, all those horrible things.
Again, for rough maths sake, let’s say the costs will add up to half of my income. So £115 an hour needs to be £170 an hour.
That’s assuming you’ve no staff etc to pay.
But Beth, no one is going to pay me £170 an hour.
You have options, work more hours, set your earnings goal less, or find people that will accept what you charge per hour.
Or if none of those are an option, consider if your mega business idea is actually so mega. It’s not a nice thing to consider, but sometimes the idea that you love isn’t actually going to make you any money.
Do this calculation regularly to work how what you should be charging. Stop working for free!
Want help chatting all this through? Book in a call with us.