Should You Wholesale Your Time?
In general, the longer the project, the more likely it is that clients will demand a weekly or monthly rate rather than an hourly rate. There is also a high probability that your competitors will meet this customer expectation which puts pressure on you too to conform.
Amongst the benefits of wholesaling your time is the fact that you should be able to contract yourself for a set amount of time. The contract will provide you with some sense of security and allow you to plan ahead. It may even be prestigious to 'win' the business but one of the pitfalls is the opportunity cost that you may lose your presence in the marketplace. While you are 'away' you may give your competitors time to encroach on your territory or you may experience some downtime between jobs if you have not arranged otherwise.
Under some circumstances if the marketplace is short of people with your skills you may find you can contract yourself to the client at a higher rate than usual because the client sees value in knowing they have you 'on tap'. They may be willing to pay a premium to know they will never run out of what it is you have to offer.
Whether you decide to wholesale [discount] your time, or not, is a judgment call on your part but do not be too quick to discount especially if there will be some lag time for you to get back into the market. It is very easy to buckle to your client's demands when really it is an excuse for not charging what you are worth.
Before you agree to wholesale your time remember time is a non-renewable resource. Selling your time is what you do, be mindful of what you agree to because while you are out selling your time to one customer you can not be dealing with another.
Whether or not you can afford to wholesale your time comes down to the economic goals you have set for yourself: Have you priced yourself in a way that allows you to sell your time at a bulk rate and still achieve your profit goal?
Related Tags: money, time, price, self-employed, contractor, fee setting, time and money
Jane Francis is the author of 'Price Yourself Right: A guide to charging what you are worth' [ISBN 0-595-38601-6] which is available at Barnes & Noble (US), WH Smith (UK) and at amazon.com. You can read more at her blog: http://www.priceyourselfright.blogspot.com
Your Article Search Directory : Find in ArticlesRecent articles in this category:
- The No. 1 Rule For Projecting Confidence - Speak With Authority
One of the most important characteristics a person can project in a business setting - or any situat - After the Autumn Checkout European Debt Crisis and U.S. Brewing Rebound
In the commotion caused by the Fed on interest rates come to an end, the "disastrous" for the euro a - Advantages Of Arcade Game Rentals
There are many different advantages to arcade game rentals. Most people need something to release th - A General Primer on Truck Cargo Nets
In modern highways it is quite rare to see truck cargo nets in action, this is because they are usua - The United States Will Burst More Severe Financial Crisis
Not long ago, suddenly announced that the central bank to raise interest rates, the interest rate hi - Niche Marketing Profits - 3 Easy Steps to Finding a Profitable Niche Market Income in 10 Minutes
Like most beginners I was having a very difficult time trying to find a niche market to earn extra m - The Importance of Hospitality Management Consulting Firms Toronto
Businesses and the managers that help guide any business are in a constant state of improvement and - New Keynesian Theory Label
2010 winner of the Nobel Prize in Economics three theories have been labeled as "New Keynesian" labe - Federal Reserve Pouring Money QE2 Unpredictable Fortune
U.S. economist Milton Friedman proposed a "throw the cash from a helicopter" view, while the practic - Fiscal Consolidation Should no Longer Delay
British Chancellor of the Exchequer George Osborne today announced fiscal consolidation policy, shoc
Most viewed articles in this category:
- Common Financial Problems to Avoid
One must first change their habits and not procrastinate. American Consultants Inc at offers key fi - How a Bad Hire Can Hurt Your Business
What's worse - hiring the wrong person or not hiring anyone at all? Companies can become almost des - Joel Comm Is Dr. Adsense
What is Adsense? If you are new to making money online and net marketing, you may not know what Ads - 5 Steps For A Dynamic Wealth System Online
Recipe: Opportunity + knowledge + Dynamic Wealth System + Your Action = Massive Success!!! Step 1 - How To Stop Foreclosure
Losing your house to a foreclosure can be very scary. There are times when circumstances are ou - How to Always Pitch A Strike
As business owners, we are always working on new ways to convince people to become customers, client - Membrane Diffuser Solutions for Wastewater Treatment Systems
In the aeration basin of a typical wastewater treatment plant there are both organic and inorganic m - Another Year Hating Your Job or Loving Life?
Copyright © 2007 Mary Foley I've come to the conclusion that to be successful - really successf - Dyestuff Industry In India And China
World demand for dyes and organic pigments to touch $10.6 billion in 2008According to a study on dye - Cma-cgm Case : the Series of Lawsuits Continues in Syria, Lebanon, Egypt, France, England and the United States
Damietta company case : The series of lawsuits continues in Syria, Lebanon, Egypt, France, England a
