How much money do you want to make?
If you candidly ask other freelancers and consultants how much money they’d like to make this year, you’ll commonly hear, “As much as I can!” It’s an honest answer.
But after our first couple years of chasing money as freelancers (yes, at Harpoon we're freelancers just like you!) we found ourselves burning out, working too many hours, and saying “yes” to every project that came along for fear of an unknown future. We had no gauge of our financial health, and no data telling us when it was OK to slow down and take a break. It was like being stuck on a hamster wheel. Work, work, work, cross our fingers, and hope we had enough money to pay the bills each month. Something needed to change.
“As much money as I can!” turned out to be a poor way to run our businesses.
If you want stability, start by setting a goal.
Things started to turn around quickly when we took our first step towards financial stability—we set a specific yearly revenue goal. We figured out exactly how much revenue we needed to generate each year in order to live the lifestyles we desired. This yearly revenue goal included everything we needed to run our businesses, pay our bills, take vacations, grow our savings, pay for health insurance, contribute to retirement, etc. This is the freelancer's big number. It's the amount of yearly revenue it takes to meet your every need.
Our first step towards financial stability was setting a yearly revenue goal.
Who needs a plan? You do of course.
Once we determined our yearly revenue goal, we built a financial plan that worked backwards from there. We could now break our year into manageable, bite-sized pieces. We now knew how much revenue on average we needed to bring in each quarter and each month in order to stay on track to meeting our yearly goal. And we knew when it was OK to slow down, or when we needed to speed things up by taking on more client work or raising our rates. And by tracking our revenue progress on a calendar we were able to schedule new client projects based on our financial goals for that month, quarter, and year.
After seeing such a turnaround in our careers we decided to build Harpoon.
Harpoon puts you in financial control.
Having a yearly revenue goal, and tracking our progress towards that goal, opened up a whole new world of financial data that helped us make intelligent decisions about our businesses. Ever feel uneasy about taking a vacation? Ever wonder if you're making enough money this month in order live stress-free next month? We could finally stop guessing about our financial health, and could run our freelancing careers with confidence. And after seeing such a turnaround in the success of our careers, and in the reduction of our stress, we decided to build Harpoon. Harpoon packages these proven methods of success into a beautiful interface that anyone can use.
You won’t need five apps anymore. Harpoon becomes your complete solution.
Ready to improve your freelancing career?
In addition to its financial planning and goal-setting benefits, Harpoon also provides all the tools you'll need to collect revenue and manage your business's finances. Everything from time tracking and invoicing, to expense tracking and project scheduling, you won't need five apps anymore to manage your finances. Harpoon becomes your complete solution. Ready to improve your freelancing career? It's time to try Harpoon.