# How to set prices for your mobile work

by Quentin 9 replies
We see a lot of question re what do I charge etc so I thought I would help out in this area.

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.

Remember he who fails to plan; plans to fail.

Quentin
• Now that is helpful! You have made it very simple Quentin, thanks for all the great stuff you post here.
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• Nice Informative Post, Quentin! Thank You!
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• Great info Quentin. Very few people take the time to do the math in their business. I'm confident that if you can prove your marketing formula in the language of mathematics... you stand a good chance at having success with your business. Great post.
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• Thats is very nice Information about mobile work set prices
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• Thanks for the informative post, i do the very same it is soothing when you work it down to finer details. Then you can say i need x amount of sales... can i get them yes/no it makes you pretty happy when you realize you can
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• Good post shared.really will be helpful
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• Great post, Quentin. Seeing what you really need to get by and what you need to get there is always an eyeopener. Having had a very successful corporate career where we never really had to crunch numbers, then running a small business with my wife through a recession, you really learn the differences between what you think you need for expenses and what you really need to make.
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• Really great stuff! Sometimes making things a bit more 'real' like this is a great step towards entering the real world and no longer 'dreaming' of how much you'd like to make, etc.

This is a great tip and I think I'll implement this today!
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• Makes perfect sense. Remember time is a finite resource. I tend to be a little pickier these days on who I work with and how I price them. I've gotten burned to many times reducing my price to get the business and then have the project turn into more hours than I planned.
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