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Sam (crazy candle person) ✦
@samantha
How do you bake your time spent working into your margins?
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will
@w
hm.. what's the one paragraph context? why are you asking this question exactly?
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links 🏴
@links
Record time spent working and estimate how much I would spend to hire someone to do the job. I like to leave a lot of buffer (ie if it takes me 5 hours I might give someone else 8 hours) because no one is gonna be as motivated as you. Unit economics are important AND the more early stage you are the less useful they are (because economies of scale low, etc). Have you considered doing a break even milestone? ie if I sell x candles/month given assumptions above, then I will pay for my COGS and fixed cost. This is more actionable for early-stage companies and gives you room to optimize later.
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John Gazzini
@gazzini
For business metrics: How much would it cost to hire someone else to do this job? ======== For personal finances: What's the most $ I could make selling my labor elsewhere for these hours? And then discount it by how much happier I am doing this instead.
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shazow
@shazow.eth
I'd suggest integrating personal earning goals into your targets, alongside revenue growth etc. Charging per time unit is always a losing game, you never want to optimize for more time spent. Ideally you want to decouple earning and minimize time spent.
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Cool Beans 🌞
@coolbeans1r
You mean...how do you pay yourself? Or... how do you add in "time" to pricing the candles?
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@myreni
Have a good day Samantha.
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