Been running my freelance gig for a few years now. Always thought keeping tabs on each project’s profitability was crucial. But lately, I’m wondering if I’m overthinking it.
Is this really as important as I’ve made it out to be? Or am I just wasting time that could be spent on actual work?
Tracking profitability is good, but don’t go overboard. I use a quick spreadsheet to log basic job details. Takes a few minutes per project.
It helps me spot which clients or types of work are most profitable. That way, I can focus on the best opportunities.
Just don’t let number-crunching take over your actual work time.
I get where you’re coming from. Tracking profitability can feel like a chore, but it’s worth doing - just keep it simple.
Here’s what works for me:
This gives me a good picture without eating up too much time. It’s helped me:
Just don’t let it become an obsession. The goal is to work smarter, not turn into an accountant.
Tracking profitability isn’t a waste of time, but don’t let it eat up your work hours. I keep it simple. At the end of each job, I jot down total hours, materials, and what I got paid. Takes 5 minutes tops. Gives me a quick view of which jobs are worth my time. If you’re spending more than 30 minutes a week on this stuff, you’re overthinking it. Focus on getting the work done right and on time. That’s what keeps clients coming back.
Numbers ain’t my thing. I just work and hope for the best.
Tracking every penny? Nah, that’s too much hassle. I just make sure I’m not losing money on jobs. If the bills are paid, I’m good.
When I started out, I was obsessed with tracking every little detail. Now? I’ve found a middle ground that works.
I use a simple Google Sheet. Each row is a project. Columns for the basics - client, project type, hours worked, materials cost, what I charged. Takes me maybe 2 minutes to fill out after a job’s done.
At the end of the month, I spend 15 minutes looking it over. It’s helped me realize which types of jobs are actually making me money and which ones I should probably avoid.
But here’s the thing - don’t let it control your decisions completely. Sometimes a less profitable job leads to bigger opportunities down the line.
Bottom line: Track enough to make informed decisions, but don’t let it eat into your actual work time. If you’re spending more than 30 minutes a week on this, you’re definitely overthinking it.