Time and Money

Lorna Jane MitchellMarch 2012

About Me

● Lorna Jane Mitchell● @lornajane● Freelance for > 18 months

http://lornajane.net

Where does the time go?

Time

Money

Where does the time go?

Time Tracking

How much time do you need?

Estimating

● Include meetings to attend, reports to write etc● List tasks● Split up small● Estimate each

How much does your time cost?

Not everything is billable

Rates

● Decide on your rates● Write them down● Stick to them

Quotes

● Be able to quote for work● Combine estimates and rates ● Agree payment method, invoice date/frequency,

and payment terms

Proposals

● Sometimes you need to do more than quote● Outline what you will provide● Details of the project with benefits● Costs and benefits

Delivery

● Many different ways of working● hourly/daily rates● fixed price● royalties or other license fees

When is X due?

Deadlines

add deadlines to calendar

What else needs time?

Scheduling

Scheduling

block out time for appointments

How can I do X on time?

Scheduling

Scheduling

book your work into the gaps

When can I deliver X?Can I also take on Y?

Billable Hours

=

rate

income

* billable hours

hours that you actuallyinvoice for, correctly

and on time

Billable Hours

● Hours you worked● That you tracked● With a contract in place● That you invoice for

Invoicing

● Make it easy● Then you will do it● Use a template or tool

● Your name and address● The work and costs● Any purchase order or other details● How and when payment should happen

Invoicing

generate

track

chase

Invoicing

Invoicing

generate

track

chase

Invoicing

generate

track

chase

What information to track?

Year-End Process

● Track information ongoingly● Know what happens and when for year-end● Do you need to set time aside for it?

● (if so, see the first point!)

Get A Grip!(on both time and money)

Thanks

● Twitter: @lornajane● Website: http://lornajane.net● Slides: http://slideshare.net/lornajane● Feedback (please?): https://joind.in/6145