Hourly Rate Calculation + 1:1 Consulting

ASK YOURSELF THIS QUESTION:

Are you getting paid enough to cover all of the cost of running a business including your own salary? And do you have a pricing strategy that is designed to evolve with you?

DESCRIPTION

In this 1:1 series of interactive sessions stretching over 4 weeks (designed especially for those of you running a creative business), you will clearly define your hourly rate as a starting point to your individual pricing strategy. An accurate hourly rate helps you cover your initial costs and time spent working – your commitment to building on this is essential to ensure it continues to reflect the true value of your work.

HOW IT HELPS YOU

Our Hourly Rate Calculation Bundle is for you if you want to accurately calculate your hourly rate, and future proof your business with a clear pricing strategy. There are a variety of factors that need to be considered when calculating your hourly rate, some are obvious and others maybe less so. This bundle will help you define these factors, ensuring you set a rate that covers your costs and aligns with your market value. Understanding these principles will allow you to price your services strategically, providing a solid foundation for more advanced pricing strategies as your business evolves.

WHAT YOU GET

• Google Sheet Template: Comprehensive and easy to use.
• Our proprietary user friendly template covering:
  1. Cost Allocation: Identify all costs directly and not directly tied to providing your service/product/project.
  2. Chargeable Hours: Understand what hours can be charged to clients to cover, time spent on admin, holiday, continuing education and more.
  3. Profit Allocation +: Add-in percentage you aim to keep as profit (profit margin) + additional percentage to cover unexpected costs (buffer).
  4. Personal Costs: Calculate your personal costs to ensure your hourly rate also includes cover for your personal needs
• 1 x 30 min Onboarding Session: An intro call to get to know you and prep for the sessions.
• 1 x 90 min Workshop: This interactive session is focused on the fundamentals of hourly rate calculation. We'll explore key components such as understanding your costs, valuing your time, and real market rates. Through practical exercises, you'll learn how to effectively calculate an hourly rate that reflects the true value of your services and ensures your business's financial health.
• 1 x 45 min Strategy Session with Bespoke Consultation: After the input and insights gathered in the workshop, we will take a deeper look into your hourly rate calculation. We’ll use the additional insights that we have gathered to address your specific challenges, utilizing strategic recommendations for how you can improve your pricing.
• Takeaway Content:
  1. Get our "Practical Tips" slides to access the background business knowledge regarding hourly rates, including the do's and don'ts of hourly calculation, reflection questions to guide you, and inside tips on how to make sure your calculation is accurate. 
  2. After the workshop you will also receive the presentation covering all of the essential concepts related to profitability analysis. A helpful refresher for whenever you need it.

Upon purchase you will receive an e-mail with access to your template.

PRECONDITION: You’ll need to have your financial docs and data gathered together.

COMPANY SIZE: If you're current company size exceeds 10 team members, please reach out to us for a custom quote.