Saturday, January 11

Tag: billing

Mar52024 by adminNo Comments
The 14 discomforts of developing your own billing system

The 14 discomforts of developing your own billing system

Technology
Billing and earnings systems are a requirement if you ever prepare to monetize your company. If you've invested at any time with them, you understand that billing systems are complexand nobody wishes to consider them. When they work, it's terrific and everybody mores than happy. I've seen them compared to an octopus, and I totally concur. They touch financing, item, experience, consumer assistance, consumers, legal, compliance, sales, and in some cases more. Billing is hard, linked, and made complex. Due to the fact that it's so inter-connected, it can go belly-up rather rapidly if something breaks. And things does break. Regularly(If you have a group that's keeping this system and it's not you, ask!). If your system isn't breaking simply. Provide it a long time. Look, I ...
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Dec262023 by adminNo Comments
The unfortunate math behind consulting companies (2011)

The unfortunate math behind consulting companies (2011)

Technology
Hiring even one person creates a lot less profit than you’d think, and launching a product rarely works out. Here are some tips for consulting companies. Consulting can be a great way to fund a startup or make a bunch of cash. It’s easy to start; Just pick an hourly rate and jump in. There are tons of online tools for time-tracking, project-management, and billing.But someday soon you’ll notice there’s only so many billable hours in the day, and you’ll be tempted to expand. Maybe hire an employee for $30 per hour and re-bill them at $60. Easy money, right?Unfortunately the math doesn’t work that way.Here’s what really happens, and a few ways to combat it.Double is nothing Suppose you hire an employee at $60,000/year. There are 2,000 working hours in a year—40 hours per week times...
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