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Re: Never Gets Old: Value for the Price

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cowcowcowcowcow
Re: Never Gets Old: Value for the Price
by Mike Cohen on Nov 2, 2009 at 9:38:33 pm

I'm late to this party, but here is my answer:

Pay yourself first. Don't make your hourly rate the hourly rate you pay yourself. You have to figure your prices based upon your business staying profitable, not just you paying the rent. In other words, if you take home $50/hour as a paycheck, add to that your overhead and profit. That is your actual hourly rate - multiply by the estimated hours, plus a shoot charge and now you're talking.

You want your client to walk away happy, as opposed to just walking away. But make sure you are charging enough so YOU walk away happy too. If you bid low and wind up working 40 hours, making your hourly rate $10, then you lose.

A good rule of thumb in business, don't lose!

Mike Cohen




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