350: How Many Billable Hours?
/Topics:
-Command Control Power has a few new Patreon sponsors to announce. Thank you to the following patrons for responding to our call:
Bruce Corson
Rocco Russo
Kevin Cox
Steven Kurtz
-Joe wants to know how many billable hours his fellow consultants bill in a given week
-Sam & Jerry quickly produce their numbers as they were not aware there was a quiz
-An addition that Sam mentions is the recurring revenue from MSP clients, which helps as a stable baseline for those slow weeks/months
-Jerry wonders how relevant those billable hours are in comparison to simply knowing how much revenue is needed to “keep the lights on”
-Subtracting raw numbers of a 40 hour work week (for admin tasks, internal meetings, etc.), Joe ends up with 19 possible billable hours per consultant, per week.
-With Joe & Sam having employees, Jerry poses questions about incentives for them to keep the numbers up and bring in revenue for the company
-Sam had an issue where his employee was not documenting quick fixes with MSP clients because he thought it simply didn’t matter.
-Even when time is not billable, or you extend a discount to a client, you should always document and show this to the client. You never know when you need to call back to this information.
-Jerry pushes Joe & Sam to find out how they physically document hours not dedicated to clients
-Quoting job estimates takes time that a consultant can master over time
-Sam disappears right in the nick of time!