Posted by BrendaTx on 2/23/13 6:44pm
Msg #457357
Those who need to know this, won't read it.
Yeah, that sounds like a chain letter come-on, but it's so true. Those who are charging enough for their services and will be IN business and IN the black already know this. They are marketing to find bigger fish each day.
Those who don't have a plan in place to get their fees up to a level that dignifies their work and self-employment status won't be interested...they'll sell themselves short until they don't have enough money to cover their costs of doing business and bills.
http://blog.intuit.com/money/placing-a-value-on-your-time-and-increasing-it/
| Reply by Notarysigner on 2/23/13 7:35pm
Msg #457364
Great reminder, I remember someone posted a similar calculator her on NR a few years ago and I never could go back and find it......THANKS, it works.
| Reply by Sha/CA on 2/23/13 7:53pm
Msg #457368
Thank you Brenda. This is a great reminder to refresh! n/m
| Reply by BrendaTx on 2/23/13 8:08pm
Msg #457371
You're welcome.
I hate thinking how much it costs me to live/work/run a side business, too!
But, it's the truth. 
| Reply by Frank/NC on 2/23/13 8:48pm
Msg #457381
Re: Super post. Now all we need are all those who
undercut prices thinking they are establishing a huge client list. If only they could put this all together and realize their profits are zilch when they low ball. Thanks Brenda!
| Reply by ikando on 2/23/13 10:00pm
Msg #457391
Re: Super post. Now all we need are all those who
Listed at the end of that article is another post about independent contractors. I found this from that article to be something to be considered.
"One of the biggest differences between an employee and a contractor is that an employee knows he’ll make a certain amount of money each year no matter what, as long as he shows up for work. A consultant doesn’t: She needs to focus on marketing, staying up-to-date in her industry, managing the business’s finances and operations, and completing the jobs that she’s been paid to do. She may need to work three un-billable hours on her own business for every hour that she bills to a client. So, even if a contractor’s fee seems steep, chances are, you’re getting good value for your money."
Read more: http://blog.intuit.com/employees/why-do-independent-contractors-cost-so-much/#ixzz2LmlFlV8S
| Reply by Marian_in_CA on 2/23/13 11:01pm
Msg #457398
That's a great article... and really the true basics of something I harp about all the time here. Brenda's right, though... the people who really need to know this won't read read, and others won't even understand it. It's a sad fact that many people who venture in to our business do so with very little business aptitude, so even some of the concepts addressed in that article may be difficult to grasp. 
| Reply by Shan/CA on 2/23/13 11:44pm
Msg #457405
Thank you! I saved the link to "my favorites" tab, that way I can refer back!
| Reply by 101livescan on 2/24/13 8:57am
Msg #457425
Five-star Post! Thanks, Brenda.
EXACTAMENTE! Thanks for posting.
Many people are in a survival mode. They have not yet put on their CEO cap! Just eeking out a living. Taking the crumbs the pros won't touch. I can't do this work on under $1XX. With gas prices soaring, toner and paper on the rise, office expenses, everything it takes to this work, I don't get people who will accept the $xx work, including edocs and fax backs, but more power to them.
I rarely work for SSs...The ones I work for recognize if they want good notaries, they have to spring for them.
Back in the day I cut my teeth on $75 overnight docs, but I don't any more. Edocs is the way to go. You have more control on when you receive your docs. But you must be compensated adequately.
There are probably more people in this business who under value themselves than those who know what they must earn to make a profit.
Brenda, thank you for posting.
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