Episode 20

Setting Goals as a Freelancer

November 13th, 2018

54 mins 5 secs

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About this Episode

Rob and Sara discuss how they set goals for their business. They discuss the amount of money they make, what they expected, and how they measure their own success. Sara discusses the billable hour requirement at old firms and how she uses the metric of money-billed instead of hours-billed. They discuss banner months, banner years, and whether or not they increase their goals when they do well. They both are working far fewer hours than when they were traditionally employed and both work far fewer hours than when they were traditionally employed. Rob uses a software called Cushion. He's working on scheduling capacity into the future. Each discussed determining their own threshold for what they are comfortable working balanced against what they'd like to make. Rob discusses his redneck childhood spent taking the safety off of lighters at his grandmother's house. Rob discusses obtaining clients, then maximizing the revenue from the billable hours. Constantly re-evaluating the nature of your client base and trimming some smaller client work helps build productivity. That being said, both deal with trying to keep avenues of referral open and maintaining a pipeline from marketing efforts. All in all, both have determined that planning to live off a conservative amount of money and treating the rest as excess has helped them feel successful. Articulating, sharing, and revising 5 year and 10 year goals is necessary to move forward. They discuss marketing their own products and eventually extricating themselves from the service provider mindset.

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