What should your hourly billing rate be?

By Bruce Firestone | Business Coaching

Jan 30

Whether you are a high-flying coach or consultant or a house cleaner, painter, handyman, what should your hourly billing rate be?

I get asked that a lot. Here’s my answer: There has been a secular increase in costs in Ottawa and Ontario over the last few years. And not just in Ontario, but all across the board in many nations.

In Ottawa–

-houses are now trading at $535,000 that, just three and a half years ago, you could have purchased for $350,000
-legal fees were $350 per hour; now five years later they’ve jumped to $650 per hour (or more… in big city Toronto, $950 per hour!)
-electricity charges went from 8.8 cents per kw-hr about 10-years ago to peak rates of 24 cents today including all fixed fees

Have your costs gone down?

No.

Has your income gone up?

No.

What’s wrong with this picture?

Bottom line: Raise your rates!

Bruce M Firestone, B Eng (civil), M Eng-Sci, PhD
Real Estate Investment and Business coach
Century 21 Explorer Realty Inc broker
Ottawa Senators founder
1-613-762-8884
bruce.firestone@century21.ca
twitter.com/ProfBruce
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MAKING IMPOSSIBLE POSSIBLE
FREEDOM VIA REAL ESTATE INVESTMENT AND PB4L, PERSONAL BUSINESS FOR LIFE
FEHAJ, FOR EVERY HOME A JOB

Image courtesy of: Public Domain, https://commons.wikimedia.org/w/index.php?curid=5771219

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About the Author

Bruce is an entrepreneur/real estate broker/developer/coach/urban guru/keynote speaker/Sens founder/novelist/columnist/peerless husband/dad.

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