How much time can you sell?

This post is aimed at those businesses who essentially sell their time (and the time of others) and looks at what assumptions you can make about how much time you can realistically sell per annum. Q1 – What would you like to earn per annum? Let’s start with the simple version i.e. a freelancer or Read the full article…

Starting the year by putting your business in good shape

No gym required (though this post might provide food for thought as you pound that treadmill) instead some wise words from the mandarins (sorry still on the Christmas puns). How can you keep your profit high in a tough market whilst improving customer service and managing your cost base? Well there’s a sentence full of Read the full article…

So, you’re planning to take a product (or two, or more) to market … well here’s a few things to think about

As with services this starts with identifying your turnover goal for the next 12 months. However, unlike selling time you have a bunch of production costs which you need to take account of before anything else. As a very general rule of thumb the direct costs of production when added together should not exceed 50% Read the full article…

Pricing your Services (part 1)

The good news is that this starts out pretty simple as you are essentially selling time. If you are a freelancer or sole consultant easier still because you are selling your time!. Pricing your time: start out by answering two questions: 1.    How much would you like to earn in a year? 2.    How many Read the full article…

What is a Small, Medium or Large customer or project for you?

What would constitute a small, medium or large order of your products? For example if you are a product designer with 8-10 items in your range: –    what would make up a typical small first order from a new shop? Should there be a minimum order below which it is not really worth your while? Read the full article…

Just because an invoice is now paid doesn’t mean you’re free to spend the income!

When a client pays an invoice you don’t get to spend it all. It’s not all your money! The question is how much do you need to put aside to cover your tax bill, your costs of pitching for and delivering business and your ongoing admin/office costs? As a really rough rule of thumb we Read the full article…

Do I, don’t I, do I need an office?

How do you work out whether you need an office or studio space? It’s a significant part of your cost base if you do so it’s worth looking at the pros & cons. If you don’t what are the reasonable substitutes? If you do how do you choose? Questions to ask yourself: Do I mostly Read the full article…