re: Business question

Just know and judge the audience with him. The eager man generally loses so just bat it all around with him. If he's needing a boost in productivity or sales, he's more desperate than you. And you and your time aren't free. But don't scare him off lol

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So you asked for $80k and got offered $40k

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The guy is just seeing if he can get the OP for cheaper. No sweat on the guy to take a free meeting.

Thanks Sao

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momentoftruth87

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A financially successful business is not one that does a good job in the work they do, it’s one that does a good job in producing income compared to expenses. Usually if you do good work, the money follows.

But marketing and pricing are some of the most important foundations of a business OP.

An easy way to start your pricing is to learn your real expenses and costs of doing business, price your competitors, and then determine a price in which you think you can net an income. Watch your finances closely and adjust as needed.

I'm not sure what your business is but I think $100 - $150 p/hr is fair, depending on the skill. I wouldn't ask for a down payment but would definitely charge a prep fee for the hours it takes you to plan out the project.

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Very minimal overhead. No debts, want to get some perspective to maybe get some money in my business

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If you're contracting, you are now responsible for your own taxes, health care, bookkeeping, ect ect. Bare minimum, your 80k on the inside is worth at least 90 to 100k as a contractor due to these issues. I'd say 46 to 55 an hour.

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with intention to make 80k

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not really sure what this means.

what i think it means......if you want to work with your friend, tell him that you need to be able to make $80K. and then you two sit down and create a path for you to bring $80K of worth (or more) to that company.

outside of that, I am lost at all of the "want" and "intention" in your question.

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Person gets offered job of 40k salary, with intention to make 80k

That person turns down job and starts business, but emailed the guy back to see how he and his business were going.

Now guy still wants person to work with them and wants a meeting.

How much should person ask for to do contract work / per hour contracting?

Should person ask for a down payment for services? Especially since this guy really wants to work with person.

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These are going to change drastically depending on what business you are in. Some work on a T&M basis where you get paid for every hour you work, others on a lump sum over a certain amount of time. Some industries do retainers some do not.

That said if you are looking to do business yourself as a contractor do yourself a favor and do not charge your normal salary hourly rate (if you do this you will get slaughtered in taxes) but the industry wide billable rate for your services rendered. If you don't know what your hourly billable rate is you should not become a contractor.

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What the frick?

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I think he was referring to a retainer.

Estimate your hourly rate based on the original job offer. Now factor in that you will be responsible for all taxes and insurance. If your business insurance doesn’t already cover it, you’ll need to add an independent contractor insurance policy. Also, factor in costs of using your own vehicle and equipment, but that can be itemized when you bill.