The document by Lorna Jane Mitchell outlines essential strategies for freelancers regarding time and money management. It emphasizes the importance of time tracking, estimating costs, quoting work, and effective invoicing practices. Additionally, it discusses scheduling and the need for a structured approach to manage billable hours and project deadlines.

1. Time and Money
Lorna Jane Mitchell
March 2012

2. About Me
●
Lorna Jane Mitchell
●
@lornajane
●
Freelance for > 18 months
http://lornajane.net

6. Where does the time go?

7. Time
Money

8. Where does the time go?

9. Time Tracking

10. How much time do you need?

11. Estimating
●
Include meetings to attend, reports to write etc
●
List tasks
●
Split up small
●
Estimate each

12. How much does your time cost?

13. Not everything
is billable

14. Rates
●
Decide on your rates
●
Write them down
●
Stick to them

15. Quotes
●
Be able to quote for work
●
Combine estimates and rates
●
Agree payment method, invoice date/frequency,
and payment terms

16. Proposals
●
Sometimes you need to do more than quote
●
Outline what you will provide
●
Details of the project with benefits
●
Costs and benefits

17. Delivery
●
Many different ways of working
● hourly/daily rates
● fixed price
● royalties or other license fees

18. When is X due?

19. Deadlines
add deadlines
to calendar

20. What else needs time?

21. Scheduling

22. Scheduling
block out time
for appointments

23. How can I do X on time?

24. Scheduling

25. Scheduling
book your work
into the gaps

26. When can I deliver X?
Can I also take on Y?

27. Billable Hours
income =
rate * billable hours
hours that you actually
invoice for, correctly
and on time

28. Billable Hours
●
Hours you worked
●
That you tracked
●
With a contract in place
●
That you invoice for

29. 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

30. Invoicing
generate
track
chase

31. Invoicing

32. Invoicing
generate
track
chase

33. Invoicing
generate
track
chase

34. What information to track?

35. 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!)

36. Get A Grip!
(on both time and money)

37. Thanks
● Twitter: @lornajane
● Website: http://lornajane.net
● Slides: http://slideshare.net/lornajane
● Feedback (please?): https://joind.in/6145