From Brian Tracy, sales guru and author of many sales books including "The Psychology of Selling."
"A very simple way to work out the value of your time:
Let's say your goal for this year is to earn $25,000. Divide that by approximately 250 days, about how many days you will work, which is $100 a day. Divide that by 8 hours, which works out to approximately $12.50 an hour. Then never do anything that is not a $13.50 an hour activity.
If your goal is to earn $50,000 this year, that means all of your activities must be valued at $25.00 an hour. If your goal is to earn $75,000 -- then you must put in enough effort to get $37 per hour.
If you are not engaged in activities that are generating the kind of income you want, then you will not earn the kind of money that you want."
In my opinion, salaried or not, money-focused or not, it's not a bad idea to start evaluating how you spend your time on a micro-scale to make sure that you're getting the most out of your days. Whether its making sure that you're doing something that makes you the happiest possible (facebook vs. real-time interaction with friends) or focusing on the bigger, more important tasks (catching up on emails vs. securing newer/bigger opportunities) -- It's a good bet either way to label or rate how you use your hours, because I'm sure we all hate to say "But I have no time."
"A very simple way to work out the value of your time:
Let's say your goal for this year is to earn $25,000. Divide that by approximately 250 days, about how many days you will work, which is $100 a day. Divide that by 8 hours, which works out to approximately $12.50 an hour. Then never do anything that is not a $13.50 an hour activity.
If your goal is to earn $50,000 this year, that means all of your activities must be valued at $25.00 an hour. If your goal is to earn $75,000 -- then you must put in enough effort to get $37 per hour.
If you are not engaged in activities that are generating the kind of income you want, then you will not earn the kind of money that you want."
In my opinion, salaried or not, money-focused or not, it's not a bad idea to start evaluating how you spend your time on a micro-scale to make sure that you're getting the most out of your days. Whether its making sure that you're doing something that makes you the happiest possible (facebook vs. real-time interaction with friends) or focusing on the bigger, more important tasks (catching up on emails vs. securing newer/bigger opportunities) -- It's a good bet either way to label or rate how you use your hours, because I'm sure we all hate to say "But I have no time."
