What's Your Time Worth?

What's your number? You know that number in mind that matches what you want to be in your company each year? I would like to invite you, about how much money you want in the next 12 months to think. And then I want you to calculate how many weeks do you work for that money.

So let's say you want to make, £ 250,000 next year and take from 6 weeks. You're going to do that in 46 weeks. If you have a 30-hour week, which means work that yoube used for 1380 hours (46 of 30 multiplied). If we are to break even further away, which means that for each hour of work you need to produce for your business from £ 181.16 (£ 250,000 share of 1380 hours).

So, if we think only about what you did today, are the things that your time on today in the value of £ 181 spent? Would anyone pay £ 181 an hour to do the things you have done to do today? Because if you're at it admin things like fixing the faxMachine, order paper, refilling the stapler, when you were there one of those things that are all the jobs that could be outsourced, or a person that costs much less than £ 181 per hour could be delegated.

Their numbers may be different from the example I've shown you here, but I call upon you some time to make these calculations for yourself and come with a clear, precise number of different, what is your time worth to you because I can say from experience that this little exercise canTransform your business and your life.

I have for the first time this exercise, even 20 months ago, and since then my income has increased.

After I calculated my hourly rate number, I wrote it on a Post-it note and stuck it above my desk as a constant reminder to focus only on the tasks and activities that focus at least before that worth per hour. I think it is there today as a constant reminder, because we are all humans and it is easily distracted and it's easily fall by the wayside and end of expenditureour time on things that we should not spend our time. My little post-it note, you help to me on the right track.

Throughout the day, every day have to ask yourself: "Is what I'm doing now worth X per hour?" Do not worry if the answer to this question "no" more often than it is "Yes" begin to. The point is that you have started to keep track of them, and once you start to maintain the overview, you will not go back.

If you are on decent money in your company you need to find seriousHourly rate, what is right for you. And you must avoid that cheap and be willing to hire someone to focus on the jobs and the tasks that you do it yourself.

I recently met someone who told me she gathered a whole load of business cards at a conference, and they actually had in their computers manually SA subordination of all this data themselves. My reaction was "This is madness. As on the one hand, you can tell me that you make up to € 250,000 this year and yet only a wholeMorning doing a job that you could have paid someone to do £ 10 per hour? "

If you work, sit down in your company if you are working your business should have to recognize you, you go do not get that many this administrative work. And there's a good chance there are a lot of things that you do, not the best use of your time. Calculate the hourly figure is the first step to define these things and then either delegate or eliminate it altogether.

ForMore on this topic, check out my FREE Masterclass download "Assembling Your" Dream Team ": Outsourcing Secrets, the right suppliers, partners and resources, So You Do not Have To Do It All Yourself!"

(c) Bernadette Doyle, 2008. Reprints welcome so long as by-line and article published intact and all links are made.

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