Asked

solo entrepreneurs: do you think it's important for a solo business owner to calculate his or her hourly rate and keep track of it

I'm just getting started with calculating my hourly rate based on my current 9-to-5 job for following benefits
  1. adding it to the cost of my side project
  2. delegating tasks that I can locate others to perform at a lower hourly rate
  3. assisting me in determining product pricing

I'd love to hear your opinions.




Don't think it's necessary to keep track of it but it's important knowing how much you're worth.

Don't calculate it based on your 9-5 compensation. The amount you'll derive from that is different than the amount of what actual value you provide and what you're actually worth.

Python/Vue dev. nathanwailes.com, working on rhymecraft.guru. Work habit goal: https://bit.ly/35AtptL

I think it's a good idea. I'm working on two different micro-SaaS ideas with two different cofounders and for both projects I'm using Hubstaff to keep track of the number of hours we're both putting into the project, both to make sure we're putting in an equal effort and also to get a sense of whether the money the project makes down the road (if any) ends up being greater than the market value of the time I invested into it.

Supercreative

It kind of kills the joy of being independent, no?

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