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Business 101 for Developers: Time and Money


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My talk "time and money" for the virtual conference Day Camp 4 Developers - teaching software professionals about softer skills, in particular business concepts. I'm a freelancer and I wanted to share the tips I have learned.

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Business 101 for Developers: Time and Money

  1. 1. Time and Money Lorna Jane Mitchell March 2012
  2. 2. About Me● Lorna Jane Mitchell● @lornajane● Freelance for > 18 months
  3. 3. Where does the time go?
  4. 4. Time Money
  5. 5. Where does the time go?
  6. 6. Time Tracking
  7. 7. How much time do you need?
  8. 8. Estimating● Include meetings to attend, reports to write etc● List tasks● Split up small● Estimate each
  9. 9. How much does your time cost?
  10. 10. Not everything is billable
  11. 11. Rates● Decide on your rates● Write them down● Stick to them
  12. 12. Quotes● Be able to quote for work● Combine estimates and rates● Agree payment method, invoice date/frequency, and payment terms
  13. 13. Proposals● Sometimes you need to do more than quote● Outline what you will provide● Details of the project with benefits● Costs and benefits
  14. 14. Delivery● Many different ways of working ● hourly/daily rates ● fixed price ● royalties or other license fees
  15. 15. When is X due?
  16. 16. Deadlines add deadlines to calendar
  17. 17. What else needs time?
  18. 18. Scheduling
  19. 19. Schedulingblock out timefor appointments
  20. 20. How can I do X on time?
  21. 21. Scheduling
  22. 22. Scheduling book your work into the gaps
  23. 23. When can I deliver X?Can I also take on Y?
  24. 24. Billable Hoursincome =rate * billable hours hours that you actually invoice for, correctly and on time
  25. 25. Billable Hours● Hours you worked● That you tracked● With a contract in place● That you invoice for
  26. 26. Invoicing● Make it easy● Then you will do it● Use a template or tool ● Your name and address ● The work and costs ● Any purchase order or other details ● How and when payment should happen
  27. 27. Invoicinggenerate track chase
  28. 28. Invoicing
  29. 29. Invoicinggenerate track chase
  30. 30. Invoicinggenerate track chase
  31. 31. What information to track?
  32. 32. Year-End Process● Track information ongoingly● Know what happens and when for year-end● Do you need to set time aside for it? ● (if so, see the first point!)
  33. 33. Get A Grip!(on both time and money)
  34. 34. Thanks● Twitter: @lornajane● Website:● Slides:● Feedback (please?):