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Do You Put a Value on Your Time?


As a small business owner, does the following paragraph sound familiar to you??

"Other than doing the technical 'fix-its' with my computer?I do it all! I have found that this keeps me very limited in growing my business and taking on new clients. I wish I had someone to help but how can I justify hiring someone when I can do the work myself?when I have the time?"

This is a very common issue for many small business owners. All the work, whether revenue generating or not, needs to be done to keep the business running smoothly.

We need to reconnect with our goals for our business and our vision for its future. We need to focus on why we started this business in the first place. Focusing includes deciding how much our time is worth.

But, how do you put a value on your time? How much is each hour of each day worth, especially when you are doing projects that are not generating revenue or increasing your customer base?

Is your time worth $25, $50, $100 per hour?.or more? When you get busy doing those tasks that don't directly generate revenue, consider how much it is costing you.

For example:

You charge $75 per hour for your services/time. You spend a total of 5 hours trying to catch up on your correspondence?entering information into a database, typing and re-typing your letters and preparing them to be mailed.

$75/hr X 5 hours = $375.00 of your valuable time and profit

If it would cost you less to outsource, why not do it? Why not allow a professional to handle some of your tasks leaving you with more time to generate revenue?

$25/hr (sample cost to outsource) X 5 hours = $125.00

$375 - $125 = $250 + the $ of the contract you signed while a professional took care of the non-revenue generating tasks.

Although you are spending some of your hard earned money, you are gaining so much more. Outsourcing gives you professional assistance, which in turn saves you both time and money...the two things that most small business owners need more of.

About The Author

Janice Byer is a certified Master Virtual Assistant and owner of Docu-Type Administrative & Web Design Services (http://www.docutype.net). See this and other articles on her website; jbyer@docutype.net


MORE RESOURCES:

Time Management - Google News

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This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news

Framework on polls-time govt soon: Fakhrul - The Daily Star


The Daily Star

Framework on polls-time govt soon: Fakhrul
The Daily Star
"We expected that BNP would at least come up with a framework about the type of the polls-time government but it did not do yet. What does BNP really want? Does it want caretaker or supportive or polls-time government? " Quader asked BNP. In the ...

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What The App: The best time management apps for Android ... - Firstpost


Firstpost

What The App: The best time management apps for Android ...
Firstpost
Listed below are four best time management apps we think can help you to become productive this year.

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COLUMN: Time management proves necessary skill - The Daily Toreador


COLUMN: Time management proves necessary skill
The Daily Toreador
I have what most people would call a time- management issue. It is a trait I refer to more accurately as a time-optimism issue. This is the best way I know how to describe it. I too often believe that life will always provide another hour, another 10 ...

Time management problems? You might be asking the wrong questions - SmartCompany.com.au


SmartCompany.com.au

Time management problems? You might be asking the wrong questions
SmartCompany.com.au
Viewed from a different perspective, Gilkey points to energy and attention as being more scarce than time. “People who think they have time management problems really have priority management problems, which means, at root, they have self-management ...

Time Management for Reaching New Year's Goals - North Salem ... - TAPinto.net


Time Management for Reaching New Year's Goals - North Salem ...
TAPinto.net
As the year winds down just before New Year's Eve, time seems to slow. Activities may be centered on the home and family and if you can plan it, you may have an hour or two to do some...

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ASU offers time-management help for student success - Arizona State University


Arizona State University

ASU offers time-management help for student success
Arizona State University
As the second semester of the academic year begins at Arizona State University, many freshmen are facing the reality that they need to build up an important skill for college life: time management. Many freshmen are overwhelmed by the unstructured ...

Manage Your Attention Instead of Your Time - Lifehacker


Lifehacker

Manage Your Attention Instead of Your Time
Lifehacker
Attention management is more than not looking at social media every five minutes—though it's also that, too. It's also about setting priorities and focusing your attention where it matters. And where it matters is often “deep work.” Rao divides ...

The 3 Mistakes I Made Learning To Manage Time - Forbes


Forbes

The 3 Mistakes I Made Learning To Manage Time
Forbes
As a CEO, smart time management is critical to success. Let me tell you a dirty little secret: It doesn't always come naturally, especially to entrepreneurs that become executives. When I was just starting out as an executive, I found myself struggling ...

Security's Time Management Crunch and How to Solve It - Security Intelligence (blog)


Security Intelligence (blog)

Security's Time Management Crunch and How to Solve It
Security Intelligence (blog)
Time is the scarcest resource we have as IT and security professionals. There are only so many minutes in each day to get things done. At the root of many security incidents and breaches is poor time management on the part of those tasked with getting ...

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