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From Developer to Entrepreneur Jacob Wayne Smith @j8ke

From Developer to Entrepreneur · 2020-06-23 · 8 Simple Billing Rate 160 hrs (40hr/wk) - 10 hrs (3 wk PTO) - 3 hrs (holidays) - 64 hrs (non billable) = 83 hrs/month

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Page 1: From Developer to Entrepreneur · 2020-06-23 · 8 Simple Billing Rate 160 hrs (40hr/wk) - 10 hrs (3 wk PTO) - 3 hrs (holidays) - 64 hrs (non billable) = 83 hrs/month

From Developer to EntrepreneurJacob Wayne Smith

@j8ke

Page 2: From Developer to Entrepreneur · 2020-06-23 · 8 Simple Billing Rate 160 hrs (40hr/wk) - 10 hrs (3 wk PTO) - 3 hrs (holidays) - 64 hrs (non billable) = 83 hrs/month

2

My Story

4 years at

A Brave New

6 Years

working in a

startup

advertising

agency

6 years

working at a

medium

sized agency

Page 3: From Developer to Entrepreneur · 2020-06-23 · 8 Simple Billing Rate 160 hrs (40hr/wk) - 10 hrs (3 wk PTO) - 3 hrs (holidays) - 64 hrs (non billable) = 83 hrs/month

Tools

Lawers

Your current

work

Starting cash

define(“FOO”, …)

3

State register

Bank accounts

Page 4: From Developer to Entrepreneur · 2020-06-23 · 8 Simple Billing Rate 160 hrs (40hr/wk) - 10 hrs (3 wk PTO) - 3 hrs (holidays) - 64 hrs (non billable) = 83 hrs/month

Billing rateYou

$bar = ...

4

Company identity

Page 5: From Developer to Entrepreneur · 2020-06-23 · 8 Simple Billing Rate 160 hrs (40hr/wk) - 10 hrs (3 wk PTO) - 3 hrs (holidays) - 64 hrs (non billable) = 83 hrs/month

5

Page 6: From Developer to Entrepreneur · 2020-06-23 · 8 Simple Billing Rate 160 hrs (40hr/wk) - 10 hrs (3 wk PTO) - 3 hrs (holidays) - 64 hrs (non billable) = 83 hrs/month

6

Page 7: From Developer to Entrepreneur · 2020-06-23 · 8 Simple Billing Rate 160 hrs (40hr/wk) - 10 hrs (3 wk PTO) - 3 hrs (holidays) - 64 hrs (non billable) = 83 hrs/month

7

Simple Billing Rate

$15/hr per $1k of salary+ $8/hr for overhead

Page 8: From Developer to Entrepreneur · 2020-06-23 · 8 Simple Billing Rate 160 hrs (40hr/wk) - 10 hrs (3 wk PTO) - 3 hrs (holidays) - 64 hrs (non billable) = 83 hrs/month

8

Simple Billing Rate

160 hrs (40hr/wk)- 10 hrs (3 wk PTO)- 3 hrs (holidays)- 64 hrs (non billable)= 83 hrs/month

Page 9: From Developer to Entrepreneur · 2020-06-23 · 8 Simple Billing Rate 160 hrs (40hr/wk) - 10 hrs (3 wk PTO) - 3 hrs (holidays) - 64 hrs (non billable) = 83 hrs/month

9

Simple Billing Rate

Monthly Take Home× 1.30 (taxes)+ $300 (overhead)+ $350 (health care)÷ 83 (hours/month)

Page 10: From Developer to Entrepreneur · 2020-06-23 · 8 Simple Billing Rate 160 hrs (40hr/wk) - 10 hrs (3 wk PTO) - 3 hrs (holidays) - 64 hrs (non billable) = 83 hrs/month

10

Simple Billing Rate

$15/hr per $1k of salary+ $8/hr for overhead

Page 11: From Developer to Entrepreneur · 2020-06-23 · 8 Simple Billing Rate 160 hrs (40hr/wk) - 10 hrs (3 wk PTO) - 3 hrs (holidays) - 64 hrs (non billable) = 83 hrs/month

11

Page 12: From Developer to Entrepreneur · 2020-06-23 · 8 Simple Billing Rate 160 hrs (40hr/wk) - 10 hrs (3 wk PTO) - 3 hrs (holidays) - 64 hrs (non billable) = 83 hrs/month

12

Page 13: From Developer to Entrepreneur · 2020-06-23 · 8 Simple Billing Rate 160 hrs (40hr/wk) - 10 hrs (3 wk PTO) - 3 hrs (holidays) - 64 hrs (non billable) = 83 hrs/month

Tools

Lawers

Your current

work

Starting cash

define(“FOO”, …)

13

State register

Bank accounts

Page 14: From Developer to Entrepreneur · 2020-06-23 · 8 Simple Billing Rate 160 hrs (40hr/wk) - 10 hrs (3 wk PTO) - 3 hrs (holidays) - 64 hrs (non billable) = 83 hrs/month

14

Page 15: From Developer to Entrepreneur · 2020-06-23 · 8 Simple Billing Rate 160 hrs (40hr/wk) - 10 hrs (3 wk PTO) - 3 hrs (holidays) - 64 hrs (non billable) = 83 hrs/month

15

Page 16: From Developer to Entrepreneur · 2020-06-23 · 8 Simple Billing Rate 160 hrs (40hr/wk) - 10 hrs (3 wk PTO) - 3 hrs (holidays) - 64 hrs (non billable) = 83 hrs/month

16

Page 17: From Developer to Entrepreneur · 2020-06-23 · 8 Simple Billing Rate 160 hrs (40hr/wk) - 10 hrs (3 wk PTO) - 3 hrs (holidays) - 64 hrs (non billable) = 83 hrs/month

17

Page 18: From Developer to Entrepreneur · 2020-06-23 · 8 Simple Billing Rate 160 hrs (40hr/wk) - 10 hrs (3 wk PTO) - 3 hrs (holidays) - 64 hrs (non billable) = 83 hrs/month

18

Page 19: From Developer to Entrepreneur · 2020-06-23 · 8 Simple Billing Rate 160 hrs (40hr/wk) - 10 hrs (3 wk PTO) - 3 hrs (holidays) - 64 hrs (non billable) = 83 hrs/month

19

Page 20: From Developer to Entrepreneur · 2020-06-23 · 8 Simple Billing Rate 160 hrs (40hr/wk) - 10 hrs (3 wk PTO) - 3 hrs (holidays) - 64 hrs (non billable) = 83 hrs/month

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Page 21: From Developer to Entrepreneur · 2020-06-23 · 8 Simple Billing Rate 160 hrs (40hr/wk) - 10 hrs (3 wk PTO) - 3 hrs (holidays) - 64 hrs (non billable) = 83 hrs/month

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Page 22: From Developer to Entrepreneur · 2020-06-23 · 8 Simple Billing Rate 160 hrs (40hr/wk) - 10 hrs (3 wk PTO) - 3 hrs (holidays) - 64 hrs (non billable) = 83 hrs/month

Save up: 6

months salary

Pick a

name/domain

Set up tools

What are you?

Calculate billing

rate

Read your

non-compete

A Timeline

22

Lawyer up

Tell your

company

Register

Open accounts

Page 23: From Developer to Entrepreneur · 2020-06-23 · 8 Simple Billing Rate 160 hrs (40hr/wk) - 10 hrs (3 wk PTO) - 3 hrs (holidays) - 64 hrs (non billable) = 83 hrs/month

Jacob Wayne Smith@j8ke