I began my career in public accounting, an industry that is all about “billable hours”. Your value is expressed in terms of how many hours you can bill. I have gone back to hourly billing a few times in my career, most recently doing interim CFO work for a bunch of startups. Likewise, many of the founders I meet working on startups have previously or are currently billing by the hour while they bootstrap their projects.
Here’s the thing about hourly billing: it doesn’t scale. There are 24 hours in a day and you need to sleep for a chunk of them. Also, clients don’t want time, they want results or value. So, there’s a disconnect between how you bill and the value you provide.
That’s definitely something we recognize at FreshBooks. We have a ton of customers who use us to track and invoice time. To help them go beyond time-based billing our co-founder Mike & Donald from our team have written a new book, Breaking the Time Barrier.
If you have ever struggled with how to earn more revenue from your consulting or service-based business, then this book is for you. It’s a quick read but you will walk away with actionable insights for your business. You can get it here.