From the course: Start a Side Hustle
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Decide on pricing
- Your side hustle isn't a hobby. It needs to be profitable. That's because your time is valuable. So, it's okay in the beginning to charge a relatively low amount, or even sometimes to work for free to establish your credibility, earn a testimonial. But before too long, you need to raise that introductory number. Now, here's an important principle that can lead the way in determining your price. You need to know what your time is worth. As a general rule, at minimum, you want to earn the same hourly wage for your side hustle that you do for your job. So, if you work 40 hours a week, and divide your annual salary by 2,080, you'll get an approximate hourly wage. Here you can see that if your annual salary is $25,000, your hourly wage is $12 an hour. For $50,000, it's $24 an hour. And for $125,000, it's $60 an hour. Of course you want to earn more than whatever that number is. There's not any maximum, and your goal isn't to just work a couple more hours each day for the same wage you…
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