| Home | Free Articles for Your Site | Submit an Article | Advertise | Link to Us | Search | Contact Us |
This site is an archive of old articles

    SEARCH ARTICLES
    Custom Search


vertical line

Article Surfing Archive



How Do You Put a Value on Your Time? - Articles Surfing

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.

Submitted by:

Janice D. Byer, MVA

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



        RELATED SITES






https://articlesurfing.org/business_and_finance/how_do_you_put_a_value_on_your_time.html

Copyright © 1995 - Photius Coutsoukis (All Rights Reserved).










ARTICLE CATEGORIES

Aging
Arts and Crafts
Auto and Trucks
Automotive
Business
Business and Finance
Cancer Survival
Career
Classifieds
Computers and Internet
Computers and Technology
Cooking
Culture
Education
Education #2
Entertainment
Etiquette
Family
Finances
Food and Drink
Food and Drink B
Gadgets and Gizmos
Gardening
Health
Hobbies
Home Improvement
Home Management
Humor
Internet
Jobs
Kids and Teens
Learning Languages
Leadership
Legal
Legal B
Marketing
Marketing B
Medical Business
Medicines and Remedies
Music and Movies
Online Business
Opinions
Parenting
Parenting B
Pets
Pets and Animals
Poetry
Politics
Politics and Government
Real Estate
Recreation
Recreation and Sports
Science
Self Help
Self Improvement
Short Stories
Site Promotion
Society
Sports
Travel and Leisure
Travel Part B
Web Development
Wellness, Fitness and Diet
World Affairs
Writing
Writing B