Time Studies for Costing Your Charges

I am taking a break today from the 7.2 release to talk about the importance of doing a time study for your charges. I have created a Microsoft Excel Worksheet that I print out to use for my time studies of various pieces of equipment and/or functions.

Here is the link to download the file:
Click Here for My Excel Time Study Sheet

The important thing to realize is that you need to know if you are making money or losing money on the pricing of your charges. Because PrintSmith has divided the Charge definitions into two sections (Pricing & Costing) you need to test your costs FIRST to make sure that you are charging MORE than it costs you!! Sounds simple right? I had never really bothered to check my GBC and Spiral binding pricing until recently. Fortunately, after doing the time study I realized that my costs were well below my pricing. But, I decided to charge less for the higher quantities based on my time study.

I challenge you to download my form and do a couple time studies yourself to see if you are charging enough! You may be surprised!

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