Quote:
Originally Posted by jstanovic
I’ve been self employed for just over 10 years. I used to work 50hrs a week but only really got paid for 30-40 of them (depending on what happens). Paperwork, emails, quotes, site meetings, cancelled/postponed jobs, etc etc there is a a lot of downtime. Sure, if you’ve got a contract or arrangement that guarantees you 10hrs work a day then you wouldn’t be charging $90/hr or whatever. As a rule of thumb there are 6 billable hours in an 8hr work day (sometimes 2 sometimes 8). Your hourly rate needs to cover all the downtime relating to your work, unless you can itemise every minute if your day and allocate it to the associated job. Good luck with that!!
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You can't charge other customers to make up for a "shortfall" in your daily/weekly hours, or, increase your rate to make up a "shortfall" for a downturn in business!!
That's why most folk work PAYE, its because they want the safety net of a steady income, not working to make up a "shortfall" just because you want to be "bossman"
Being the boss always looks good on paper, butters up that "ego" and tells all ya mates what a success you are?...ha, it is laughable, I spent time contracting and went back to wages and steady income, but lower wages!..I got fed up chasing people for money, in fact I spent more time on that and paperwork than bloody working!....
Old saying " don't p..s down my back and tell me its raining " I've been around the traps probably more than most, and I learnt the hard way the "difference between sh.t and clay"
Cheers King Billy
