Cost of Doing Business
(instructions at the bottom)
First: Use the Session Rate Calculator to obtain your “Fee Per Session.”
Second: Plug in your figures in the boxes in yellow. The calculator will do the rest; the automatic calculations are in blue.
Third: Assess your revenue; this is the entire amount you have earned from everything you do.
Fourth: What is left after expenses is your gross pay. (there are taxes etc, you must account for; ask your accountant about this.
Fifth: Use this tool to gauge how much of your resources (time, energy and money) you are investing and adjust to what is appropriate for you. It’s wise to know the true cost of your time. What are you giving up to serve others? It matters.
Things to consider:
1. This is a very basic calculator to get you thinking in “numbers.” Even if you volunteer your services, you need to know the value of what you are volunteering.
2. Are you running a business or are you engaging in your passion in your free time? Be conscious of this. If you are running a business, own it.
5. If you are volunteering your time, how much time, energy and money can you spend on it each month?
6. If you are running a business, are you charging high enough rates to support yourself?
7. Do not quit your day job until you know exactly what these numbers need to be to support you and your family.
8. With your ‘eyes open,’ you will be clear on how much energy you must spend to get achieve your goals and what it takes to do it.