How do you rate your value mostly? How do you figure out how much you are worth when it comes to your career? How much should you charge your client? Are you creating quality work for the money? Bear in mind that whenever people spend on you, you are being paid based the supply and demand of what you’re doing.
When you like to spend time with someone, it’s because you’ve measured your return on investment. A high ROI would mean delivering high value in return for a small investment within a short period of time. While a low ROI would naturally mean the reverse.
Now let’s look at you. How much are you worth in your career? Are you getting paid of what you’re worth? Do you feel like you are underpaid? You need to try being the best if you want to make yourself in demand in any career field. This is because when you become in demand then you can get exactly where you want to be. That’s what you’re worth! So, remember! Be in demand!
In business context, you need to think about how much money you need to make based on your capability. Next, make a list of expenses related to your business such as human resources, equipment, transportation cost, and taxes. If you are not sure about these things, try to break them down monthly. For example, you may allocate RM300 per month for transportation cost, which can include lunch, drinks, travel to meetings, coffee/tea, and anything else you might need. Equipment, you may need think what you need to purchase such as computers, phones, printers and etc.
After that, you also need to figure out how many hours you want to work per week. A good estimate is that you may spend one-third of your time billing, one-third of your time to support clients and one-third of your time working to get new clients.