Tuesday, August 24, 2010

What is your Time Worth?


Image : http://www.flickr.com


What is your number? You know that the numbers in your head that represents what you would want your business annually? I would like to invite you to think about how much money you want to make over the next 12 months. And then I want to calculate how many weeks you want to work for the money.

So say you want to make a £ 250,000 next year, and you would like to take six weeks off. So, you will do in 46 weeks. If you want to work 30-hour week, which meansthat you will run for 1380 hours (46 multiplied by 30). If we break that even more, which means that for every hour of work you need to generate business for £ 181.16 (£ 250,000 divided by 1380 hours).

So if we only think about what you do is TODAY, are the things you spend your time on this day worth £ 181? Would you pay someone £ 181 an hour to do the things you do today? Because if you dothings such as admin, fax machine repair, book paper, fill Stapler, if you were doing, they are all jobs that can be outsourcing or delegation to an extensive cost less than £ 181 per hour.

Your numbers may differ from the examples I have shown you here, but I urge you to take some time to do this calculation for yourself and come with a number, it is clear exactly what your time is valuable, because I can tell youfrom experience that a small training can change your business AND your life.

I first do this exercise yourself 20 months ago, and since then my income has been inflated.

After I calculate the number of hours, I write a note and posted menempelkannya on the table as a reminder I will only focus on the tasks and activities that are eligible at least every hour. I still have up to now as a reminder that we are all human and easy to get distracted and theneasy to fall by the roadside, and finally spend our time on things we can not spend our time. little post-it helps me to keep me on track.

All day, every day you have to ask yourself, "Do what I do when X is now worth per hour?" Do not worry if the answers to these questions is 'no' more often than 'yes' to begin with. The point is that you are beginning to detect, and once you start tracking, you will not look back.

If you are serious about makingentitled to the money in your business, you need to understand what the rate per hour for you. And you have to stop the cheap and ready to hire someone to handle jobs and the work you do yourself.

I recently met someone who told me it was the burden of collecting business cards in the conference and he actually sat at the Computer manually imputing all the details himself. My reaction was' That's crazy. How on the one hand you can tell that you want to make£ 250,000 this year, but you just spent the morning doing work that you can pay a £ 10 per hour to do? "

If you get stuck working IN your business when you have to work ON your business, you need to know you will not get rich doing the paperwork. And there is a good possibility there are many things you do not use your best time. Calculation of the number of hours you are a first step to identify the things and thenGood delegated or eliminate it altogether.

For more information about this, check my download FREE Masterclass "The development of your 'Dream: Team Outsourcing Secrets, Find The Right Vendors, Partners and Resources Power So You Do not Have Own All!"

(C) Bernadette Doyle, 2008. Reprint celebrated for by-line and published the full story and all links made live.

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