How to make more money

by Dale Davidson

Just a reminder, there are a few ways you could make more money as a solo 1099:

  • Increase your rate
  • Work more hours
  • Get a firm fixed price project and do it efficiently

To increase your rate, you can

  • Negotiate a new rate on your current project
  • Find a project with higher billable rates
  • Get a different type of job that tends to pay higher billable rates

To work more hours, you simply... work more hours! This assumes

  • You have more time in your day to work on stuff
  • You have room on your contract to work more (haven't exceeded your hours ceiling) OR
  • You have time to take on a second project that doesn't interfere with your first project

To make money on a firm fixed price (FFP) project, you need to

  • Confirm what the deliverable is
  • Be very certain you can deliver it
  • Be very efficient. If you can do a $10,000 project in 10 hours, that's an effective rate of $1,000/hour!

Making more money isn't the only benefit to going 1099, but it's a major one, so know what levers to pull to get it.

Want the full playbook? Check out Going 1099.

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