As a small business owner you have a unique opportunity to determine your own rates and policies. This article begins with a formula to help you calculate your income goals. Next, we provide several different methods for raising your income to this level. The final section provides hints on how to inform parents about rate increases. Before you focus on how to raise your income, it is a good idea to determine how much you want to make.
Most jobs pay an hourly rate.
In addition, you spend approximately five hours each week planning activities, doing bookkeeping, or buying food and supplies for your business. This adds up to a total of 60 hours each week. You operate your business for 50 weeks each year. Next, multiply the hours worked by the wage per hour you would like to make. This gives you how much per year you would earn at this wage.