Bringing in revenue is one thing, but being profitable is another. And it’s possible to have lots of clients and NOT be profitable!
Profit equals income minus expenses, and expenses include monetary expenses as well as your time expenditure.
Are you profiting enough?
To answer that question compare your revenue, expenses and time spent working to figure out your profit — then determine if the time you’re spending is worth the profit you’re achieving.
Seriously, sit down and figure it out for yourself. The clarity you gain will be priceless.
Resource: I go into way more detail on this subject in the Getting New Clients at Higher Rates course.
Want to receive the Daily Goody in your email, daily or weekly? Subscribe free here.
And please keep in mind, the Daily Goody is only a tiny little tip, fact or lesson everyday. Please don’t expect any of these posts to be long, earth-shattering masterpieces that instantly answer every single question you can think of and completely transform you into a world class podcast engineer. “Little by little, a little becomes a lot.”