Time No One Pays For Worksheet
How much time are you spending in your small business that no one pays for? Find out by using this simple worksheet to add up the hours you can not bill to clients.
Designed for service businesses, this worksheet helps you calculate the time you spend on client projects that the client does not pay for (answering e-mails, for example). It also helps you add up the time you spend running your small business.
By knowing how many hours no one pays for, you’ll be able to more accurately set an hourly rate that allows you to earn the money you’d like. For example, if you want to work 40 hours per week, but on average, you spend 20 hours per week that no one pays for, then you need to calculate your hourly rate based on 20 billable hours. If you want to earn $1,500 per week (before expenses), you’ll need to charge clients $75 per hour.
Jennifer Croft Comments
Filling out this worksheet can be a sobering exercise. If you’re wondering why you’re exhausted, yet still not making enough money, more than likely, the answer can be found somewhere on this worksheet. To get in balance, you might need to cut back on “freebies” for clients and/or think of ways to run your business more efficiently. By the way, the example of 20 billable hours per week is pretty accurate. Early in my career, someone told me that I shouldn’t count on billing more than 20 hours per week, and I thought she was way off base. The figure seemed too low. Little did I know (but I soon found out), that she was dead accurate.
Click here for a resource for StrengthsFinder training (remote and in-person).