A higher word rate doesn’t necessarily mean an easier earning. But how to spot those clients (or types of assignments) which are actually your most profitable? How much of your time do you spend on unpaid paper work and bids? Is the share of the job bids finally assigned to you improving with time? What (and who) are your main sources for job queries – and for actual jobs? How could you optimise your business strategy? Too many questions?
We have developed an Excel table which – while being great for regular accounting – has provided us with answers and helped us with major entrepreneurial decisions. Using this tool, we have constantly increased the proportion of (good) job queries, level of efficiency, turnover and earnings – year after year.
I want to share the answers that might be useful to you and give indications on how to analyse your own business.
