September 30, 2024

Don’t I need to know how much time I’m spending on projects?

Your time is probably your biggest cost by far.

So, doesn’t it make sense to track your time and bill clients for how many hours you work?

Not to me.

The problem with this is that using your cost (i.e., time) to set your prices is a sure path to limited profitability.

Sure, you need to COVER your costs, or you’ll go out of business.

So, if you feel the need to track your time to know your costs, I won’t argue with you.

Just don’t use your costs to set your prices.

Yours,

—J

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