Showerthought: My sister, who's a nurse, asked me how much I actually make per hour after a $200 color correction.

She broke down my time for the service, travel, and product cost, and it was way less than I thought. Anyone else have a moment that made you really look at your pricing structure?

4 comments

4 Comments

grantc808d ago

That whole time tracking thing reminds me of when I figured out my hourly rate for freelance work. Added up all the unpaid admin time and nearly cried.

michael8036d ago

Stop guessing and start tracking" really hit home for me. I did the same thing with my crew's jobs - started logging every single minute from the time we left the shop to cleanup - and yeah, it was a gut punch at first but now we actually know what to charge.

carr.luna8d ago

Calculate your real hourly rate for every service, not just the time in the chair. Factor in your travel, setup, cleanup, and product costs. That color correction might take three hours from start to finish when you add everything up. Seeing that number is a gut punch, but it's the only way to price for profit. Stop guessing and start tracking every minute and dollar. Raise your prices based on that real math, not what you think you should charge.

tarar388d ago

Stop guessing and start tracking" is the best advice I ever got from a business book. I used to just ballpark my time and it was a total mess. The real numbers don't lie.