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LinksSpy.com - Income Report January 2015


#1

Hello good folks,

I hope you’re doing well. I have finally written down my income report for January:

Cheers,
Christoph


#2

Christoph, I think you should account for your time in these income reports. You are clearly a capable individual whose time has a significant value. How many hours per month are you working? Give those hours a nominal value.


#3

Hi Steve,

thanks for sharing your thoughts. I’m the world’s biggest procrastinator, so any result I’d put in there would be made up.
I wonder what revenue I should base that on?
MRR? Assuming I continually grow LinksSpy and my hours/mo stay the same, that value would increase all by itself. Is that OK - is it not?

Interesting idea, though. How would you handle that?


#5

I’d recommend putting a nominal value on your hourly work. You are in Germany right? So €50 per hour could be a reasonable amount - less than what you’d earn as a freelancer on the German market, but significant enough to help you realise in your accounting that something that saves €100 but takes 5 hours of your time is not worthwhile in the long run.

But really, even €10/hour helps track that you are moving towards net profitability.


#6

Hi Steve,

I didn’t know where you were going at first, but now it makes so much sense.
I’ll check if I can do that for march and how to track the time automatically.

Cheers,
Christoph