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I attended a business seminar yesterday, more good information, the room was filled with people already in business and a few wanting to get started.

Image courtesy of Jannon028 freedigitalphotos.net

Image courtesy of Janoon028 freedigitalphotos.net

In the heap of material presented one thing really stood out. In the generally passive group, one thing got them to sit back and say ooh… and not in a good way.

The presenter posed some figures, “If you want to earn this much money you have to charge this much per hour…” then the slide revealed how much per hour for various amounts per year. “Ouch” came the response from a person near me…

The Presenter went on to say “Oh by the way this is just your wage we are talking about here, not thinking about the amount you need to cover your business operating costs…” OUCH! the Participants squirmed in their seats on that one.

Do the sums yourself sometime and make sure you leave out the days when you have sick days, weekends, holidays and so forth. You will soon come up with the right amount of  days you need to divide the  hours by.

The big challenge, although it was not mentioned at the event, is the threshold people are used to and how simple concepts like this can throw a persons perception out of the ball park. If you are used to charging $25 per hour, but find you need to be charging more like $250 per hour, then things need to change (yes a mind shift needs to take place).

I guess some people will say “Who would pay that much for anyones service, let alone for my services?” welcome to reality people, being in business is loaded with these sorts of challenges.

 

Regards Steve Gray

Steve Gray -

Steve is a business educator – Trainer – Speaker (Steve Gray.biz). You can get his Leadership E Book from http://theleadershipguy.com.au
The info provided in these articles is for educational purposes only and is intended as a starting point for you to build your business from, not as specific advice.


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