{NAME}’s 2023 goals (in 3 easy numbers)

Hey {NAME},  I’ve been working on setting goals for 2023 with the students in my one-on-one freelance coaching program.  (And before you ask, I’m not taking new students right now. But you can [hop on the waitlist]( to be the first to know when new spots become available.  Just click the link to [join the waitlist]( and you will be added instantly.)  Because 2023 is only a few weeks away at this point.  So today, I want to walk you through the goal-setting process I use myself. (And that I also shared with my coaching students.)  My freelance goals are focused on just three simple numbers:  1) Total Revenue: How much money do you want to make next year?  2) Total Hours-Worked: How much total time do you want to spend working on your business? Then from there, you can do the following…  3) Figure out your overall effective hourly rate by dividing total revenue by total hours.  And if you want to stop here, you can.  But I also find it helpful to go one step further and figure out how much I need to charge my clients. Since I won’t be spending 100% of my time on client work.  Which means I need to account for that “lost” time in the rate I charge my clients in order to hit all my goals.  Here’s how to do that…  3.b) Assume 20%-25% of your time goes to non-client work. (Or if you have your actual percentage, you can use that.)  3.c) Get the hourly rate you need to charge clients by taking your total revenue goal and dividing it by 75%-80% of your total hours worked. That way, you can account for the time you spend on non-client work when billing clients and still reach your other goals.  Once you have those three numbers, you have all the metrics you need to be able to manage your business next year.  For example, let’s say that both your revenue and hours are low…  That means your effective hourly rate would likely still be on track. And you would just need to book more clients at your current rates to get your hours up — which will bring in the missing income you need.  Or let’s say your revenue is low, while your hours are high…  This is the worst-case scenario. Because it means your effective hourly rate would also be low.  So you would have to focus on trying to raise your rates with your existing clients to get your fees where they need to be. And if they won’t accept higher rates, then you would have to look to replace them with higher-paying clients.  Now if your revenue and hours are both high, you have a decision to make…  First, you need to look at your effective hourly rate and see whether or not it’s on track.  If your effective hourly rate is good, that means the extra hours you’re working are also more profitable. So if you enjoy the extra income — and don’t mind putting in the extra hours — you can decide that it’s worth your time to keep things the way they are.  But if your effective hourly rate is not good — or just okay — then that means you’ve probably got a few low-end clients eating up your time without paying you enough for it.  So you should probably first try to raise your rates with those clients if possible. And if they refuse, end your work for them so that (if you want) you can find new clients who will pay you the rates you need to exceed your goals.  And of course, the dream scenario is for your revenue to be high and your hours to be low…  That would mean your effective hourly rate is also high. And you can sit back and enjoy making all that money for relatively little effort! So now it’s your turn, {NAME}.  Run the three numbers I shared above and then reply to let me know where you land.  I read every email and reply to as many as I can.  Until next week,  -Brian [Unsubscribe]( | [Edit your details]( Freelance Like A Pro PO Box 3712 Jersey City New Jersey 07303 United States [Powered By Kartra] - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -