Hello good folks,
I hope you’re doing well. I have finally written down my income report for January:
Cheers,
Christoph
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.
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?
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.
1 Like
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