Make a New Year’s resolution to understand the amount of money you must charge for the services you provide to the public to recover the costs you incur providing those services. The right price also allows you to earn the profit you deserve for delivering excellence through those services.
Determining what you are worth and making a profit, too, does not make you an immoral businessperson. Understand the reasons why it’s important to value your services and match them up to what you charge.
As a child, I was told, “‘Ain’t’ ain’t in the dictionary.” I was instructed to use the contraction isn’t (is not) instead. But, with time being what it is and change always around us, and humans colloquially changing the English language — ain’t, right or wrong, has become integrated into the English language.
Have you ever wondered if you were charging the right amount for your services? Of course, you have. It’s only natural. Unfortunately, many contractors set their prices based on the amount charged by their competitors.
Charging $85/tech hour does not make sense (or dollars and cents). But not knowing your true cost of operation and the proportionate hourly cost is insane. Identifying and calculating your true cost per tech hour varies dependent upon tech abilities and geographic locations.