Comments on: The Freelancing Equivalent of a Six Figure Salary http://regulargeek.com/2008/06/26/freelancing-equivalent-of-six-figure-salary/ Where programming, the internet and social media collide. Fri, 21 Nov 2008 19:30:50 +0000 http://wordpress.org/?v=2.6.3 By: Angela Stringfellow http://regulargeek.com/2008/06/26/freelancing-equivalent-of-six-figure-salary/#comment-513 Angela Stringfellow Wed, 23 Jul 2008 01:19:15 +0000 http://regulargeek.com/?p=68#comment-513 @Teddy - Exactly why I'm thrilled to have found them. The amount of time I save not having to bill my clients allows me to do more work FOR my clients, so I make more money. @admin - Teddy is right, I actually save more money and am able to make more money by working with MBO when you consider the savings I get on insurance, the additional time I can spend doing billable client work, and the fact that I don't have to carry general business liability insurance at all, it's free through them. @Teddy - Exactly why I’m thrilled to have found them. The amount of time I save not having to bill my clients allows me to do more work FOR my clients, so I make more money. @admin - Teddy is right, I actually save more money and am able to make more money by working with MBO when you consider the savings I get on insurance, the additional time I can spend doing billable client work, and the fact that I don’t have to carry general business liability insurance at all, it’s free through them.

]]> By: Teddy http://regulargeek.com/2008/06/26/freelancing-equivalent-of-six-figure-salary/#comment-512 Teddy Tue, 22 Jul 2008 22:02:33 +0000 http://regulargeek.com/?p=68#comment-512 Exactly -- it's not worth it for me to be doing accounting and paperwork for $125 an hour. Outsource!!! I'm also always researching ways to run a more efficient business. It's worth a little bit of internet research time, and of course there is no substitute for picking up the phone and talking with a company to see if they can save me money and time. Calling cuts through the Marketing crud very quickly, and also keeps me from being added to email lists since all they have is my number. Exactly — it’s not worth it for me to be doing accounting and paperwork for $125 an hour. Outsource!!!

I’m also always researching ways to run a more efficient business. It’s worth a little bit of internet research time, and of course there is no substitute for picking up the phone and talking with a company to see if they can save me money and time.

Calling cuts through the Marketing crud very quickly, and also keeps me from being added to email lists since all they have is my number.

]]> By: admin http://regulargeek.com/2008/06/26/freelancing-equivalent-of-six-figure-salary/#comment-511 admin Tue, 22 Jul 2008 20:31:25 +0000 http://regulargeek.com/?p=68#comment-511 @Teddy Yes, your time should have a dollar value. I have always told people that if you bill $100 per hour, then the administrative work should cost your billable amount. If you can outsource it for cheaper than your rate, maybe it is worth it. Funny you mention Four Hour Work Week, I am about halfway through it right now. @Teddy

Yes, your time should have a dollar value. I have always told people that if you bill $100 per hour, then the administrative work should cost your billable amount. If you can outsource it for cheaper than your rate, maybe it is worth it.

Funny you mention Four Hour Work Week, I am about halfway through it right now.

]]> By: Teddy http://regulargeek.com/2008/06/26/freelancing-equivalent-of-six-figure-salary/#comment-510 Teddy Tue, 22 Jul 2008 19:48:25 +0000 http://regulargeek.com/?p=68#comment-510 I think when you're evaluating any service like that (MBO or others) you need to look at the total financial and business landscape for what it does for you. Yes there is a fee, but there are also savings on taxes, benefits, business insurance, and other line items . . . not to mention not spending hours that could be productive doing paperwork to invoice and collect from your clients. So find out what the actual cost is . . . for your situation. I'm a big time proponent of oursourcing busywork to others. Have you read the Four Hour Work Week? I think when you’re evaluating any service like that (MBO or others) you need to look at the total financial and business landscape for what it does for you.

Yes there is a fee, but there are also savings on taxes, benefits, business insurance, and other line items . . . not to mention not spending hours that could be productive doing paperwork to invoice and collect from your clients. So find out what the actual cost is . . . for your situation.

I’m a big time proponent of oursourcing busywork to others. Have you read the Four Hour Work Week?

]]> By: admin http://regulargeek.com/2008/06/26/freelancing-equivalent-of-six-figure-salary/#comment-442 admin Sun, 06 Jul 2008 09:17:24 +0000 http://regulargeek.com/?p=68#comment-442 @Angela, Well, the reason some people go into freelancing is for the money. Typically, you can make more money as a freelancer when compared to a salaried employee. I like the idea behind a company like MBO Partners, but it does tend to cost money that people do not want to pay. Probably the biggest part of this is the group benefits though. In the US that can be a huge savings. @Angela,
Well, the reason some people go into freelancing is for the money. Typically, you can make more money as a freelancer when compared to a salaried employee. I like the idea behind a company like MBO Partners, but it does tend to cost money that people do not want to pay. Probably the biggest part of this is the group benefits though. In the US that can be a huge savings.

]]> By: Angela Stringfellow http://regulargeek.com/2008/06/26/freelancing-equivalent-of-six-figure-salary/#comment-439 Angela Stringfellow Sun, 06 Jul 2008 00:58:38 +0000 http://regulargeek.com/?p=68#comment-439 You are right on with all your concerns, but I found a way around some of that. I outsource all my back-office operations to a company called <a href="http://www.mbopartners.com" rel="nofollow">MBO Partners</a>. They handle invoicing my clients for me, and collections when necessary (oh, how we wish it wasn't necessary!). They also act as a W-2 employer of record, which means a few things: easier tax management, access to group healthcare benefits and retirement savings plans. I still get to run my own business as I see fit. Sorry to the one poster who doesn't like the marketing end of things...you do still have to get your own clients, but they have master service agreements with a lot of big-name companies, so it could be easier to get your foot in the door there. You are right on with all your concerns, but I found a way around some of that. I outsource all my back-office operations to a company called MBO Partners. They handle invoicing my clients for me, and collections when necessary (oh, how we wish it wasn’t necessary!). They also act as a W-2 employer of record, which means a few things: easier tax management, access to group healthcare benefits and retirement savings plans. I still get to run my own business as I see fit. Sorry to the one poster who doesn’t like the marketing end of things…you do still have to get your own clients, but they have master service agreements with a lot of big-name companies, so it could be easier to get your foot in the door there.

]]> By: WinExtra » From the Pipeline – 6.26.08 http://regulargeek.com/2008/06/26/freelancing-equivalent-of-six-figure-salary/#comment-433 WinExtra » From the Pipeline – 6.26.08 Sat, 05 Jul 2008 04:56:57 +0000 http://regulargeek.com/?p=68#comment-433 [...] The Freelancing Equivalent of a Six Figure Salary :: Regular Geek – so you think going freelance is your ticket to easy street huh … here’s some wake up information for you. [...] [...] The Freelancing Equivalent of a Six Figure Salary :: Regular Geek – so you think going freelance is your ticket to easy street huh … here’s some wake up information for you. [...]

]]> By: admin http://regulargeek.com/2008/06/26/freelancing-equivalent-of-six-figure-salary/#comment-420 admin Mon, 30 Jun 2008 23:31:19 +0000 http://regulargeek.com/?p=68#comment-420 @Andrea Biz development is probably the main reason I am not independent or freelancing right now. I never really had the stomach for the "sales" side of the business. @Andrea
Biz development is probably the main reason I am not independent or freelancing right now. I never really had the stomach for the “sales” side of the business.

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