In the world of business, it’s been well established that time equals money. How much is your time worth?
One of the best ways I keep myself mentally focused is thinking about how valuable my skill set is and what my time is really worth. How do you place a value on your time? There are a two common ways you can achieve this number.
- Total up the annual amount you would like to make in a year. Divide that by either a standard 40 hour work week, or by the number of hours you would ideally like to work, and you will have a cost for your time.
- Do a little research to see what the market is paying someone in your field or area of expertise. Be sure to learn both the high and low end of this range and you can determine based on your skills and abilities where you should fit in that range.
Whichever method you chose, what number did you come up with? Let’s say you believe you are worth $150 per hour. When you find yourself unorganized, unfocused or simply not productive, you have wasted $150. You just threw it down the drain. Time is one thing you can never get back and therefore it’s a precious resource that must be valued. Understanding this factor, you can begin to appreciate ways in which you can become more productive in less time.
Use this thought to shield you against activities that suck up your time or do not bring you closer to your ultimate goals (you do have goals don’t you?). Knowing your worth will help guide you around those pesky distractions and overcome time wasting obstacles that pop up to hinder you.
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