What I do is work out what it actually cost me to live last year. That is all my expenses, car, rent, utilities, insurance, credit cards, entertainment etc.
Mostly you can find this out through you tax or do a simple spreadsheet and just list all your expenses.
So for me as I have no debt and all the kids have left home it cost me $15 an hour to live my lifestyle. Not much and most people will be higher than this.
I then work out what profit I want to make on top of this. I am happy with $100,000 a year so that is about $52 an hour based on a 40 hour week and 4 weeks holidays a year.
So thats $67 an hour I need to make and a mobile site takes about 3 hours so the minimum cost for a mobile website will be roughly $200
I do a bit of research and find most people are charging between $300 to $450 for a basic mobile website so a great result as it is above my base figure.
If it was below my base figure then it maybe will need some more investigation.
So I can also work out my work load and say $67 x 40 = 2680 / 350(per web site) means I need to do 7.5 websites a week to reach my goal.
If I charge 400 it is one less website I have to make.
If I charge a monthly hosting and maintain fee it reduces even more.
To just live my nice lifestyle I only need 2.
15 x 40 hrs = 600 / 350 = 1.71
By just doing a little math you can easily work out what it costs to live then work out how much you want to make in profit and there is your base figure.
As entrepreneurs we do not really want a job but we still need to work out our expenses and see what is the bare minimum we need to make then go from there.
Here is a great budget spread sheet to work out your base figure.
Thank Your for Downloading the Personal Budget Spreadsheet