|
How_Do_You_Put_a_Value_on_Your_Time
| How 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 ime. 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 (CCVA, MVA) of Docu-Type Administrative & Web
Services, provides professional & creative Virtual Assistance
and Website Design. For more helpful small business and
marketing information, view her NEW Information Ebooklets; read
her ebook, Surfin' the Net - Docu-Type's Virtual Collection of
Links; sign up for her free newsletter, Virtual TidBits; and
read all of her published Articles, at http://www.docutype.net
|
|
| |
| |
