I love freelance switch!! Such a great blog. Thanks Lily - I just did my calculations based on what we'll be paying for everything in the States and thought for sure it would depress me, but actually I was pleasantly surprised
It always surprises me to find out that people don't know what their break even point is. How do you know you're making a profit or if you can afford that new bit of technology.
When I decided to hire an inhouse assistant, I did my sums to show my husband I could afford her. We are planning for her to go virtual at the end of the year but in doing the calculations I figured out KPI's for my team and financial goals for the business.
To step things up from just being a job for yourself to a viable business, work out your breakeven point and the correct rate for you.