How to Set Realistic Revenue Goals for Your Business of The New World
Joseph Patterson | January 1, 1970
How much can you charge per client, and how many clients can you take on?It’s very popular these days to say that you should not keep track of your time. Maybe you shouldn’t, but here’s the thing. When a client hires you, and you’re a service based business, one way or another, you or someone you hire has to spend the time to get the work done. Maybe you don’t want to bill by the hour, but can you really ignore the input required?
If you take a job that requires 40 hours per week to complete, every week, and you’re the only person doing the work, then you can’t take on any more clients. Here’s where my concept of Power Pricing comes in. I am using an extreme example for purposes of illustration. Essentially you are taking on a full time job, in the form of a single client. The perceived value of the services might be on your end or out of your clients is always subjective. Before you even consider taking on that job it has to be “Power Priced.” This means that the power is in your hands to decide what amount of money will get you excited to get up and move forward with this project. I don’t care what the value is. Charging value will cause you to lose your house in a case like this. You might think you can hire someone, but a job that requires this much of your resources, means that you will have to invest a lot of additional time (evenings and weekends) to hire and train someone to take over the work.
So how can you simply ignore the inputs? I can’t. I won’t!
This can be true whether you have 1 project that takes 40 hours per week, or 5 that collectively require that amount of time to complete everything on a timely basis.
Watch my video on how to set realistic revenue goals for your business of the new world and let’s see what this looks like.