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Is Hourly Billing Really Nuts?

The Business of Authority

00:00

Do You Know How Much You Should Be Paying for Your Time?

When Bik Lake first got into consulting, his hourly rate in a big firm was 70 dollars an hour. He says he used to feel guilty every time he recorded time because he felt like he should be faster at it. But the problem with that thinking is still, when i think about a project, i can't help dividing it by how many hours it's going to take me and looking at kind of like the assumed rate. You don't base your price on that; you just reverse engineer the hours.

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