Becoming an Online Entrepreneur: What's Your Time Worth?

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} Figuringout how valuable your time is is important when becoming an onlineentrepreneur. In fact, figuring out what your time is worth will help youunderstand how important your time is. So here’s how to figure out how muchyour time is worth.   HowMany Hours Do You Work?   WhenI was in the Air Force, we had contractors who worked for us. Every year we hadto figure out how much money we needed to pay for their time. We did this by figuringout how many hours we expected them to work. Typically a full time contractorworked 1880 hours in a year, given holidays and vacation time.   So yourfirst step is to figure out how many hours you work in a year.   HowMany Hours Do You REALLY Work?   Usuallywhen you’re working, time is spent in meetings, talking to people, answeringphone calls, and other things that keep you from being productive. Productivetime is time spent on things that pay, those activities that are consideredrevenue producing.   Typicallyonly 1/3 of your time is actually productive. So your next step is to figureout how many productive hours you work.   Dividethe total hours your work per year by 3. This result is the actual number ofproductive hours you work in a year.   HowMuch Do You Want To Make This Year?   Thetotal cost for the contractors who worked for us would be the number of hours forthe year times the price for that contractor, which is based on the contractor’sspecialty. On average a contractor would cost about $180K per year.   Decidehow much money you would like to make this year. Don’t be afraid of the number.Really consider how much you want in your bank account.   WhatIs Your Time Worth?   Tofigure out what your time is worth, divide the amount you want to make thisyear by the number of productive work hours.   Forexample, using the cost and hours of a contractor, let’s say I wanted to make$180,000 this year. Using 1880 as the number of hours I work each year, I onlyhave 627 productive hours. So my time is worth $287 per hour.   Nowimagine if I could increase the number of my productive hours at the same rateof $287 per hour …   Sohow much is YOUR TIME worth ?   HappyBusiness Building, Yoli Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} Yolanda Allen is a retired Air Forceofficer & online entrepreneur. Read Yolanda's blog, <ahref="http://www.OnlineBusinessPlankOwner.com">Online BusinessPlank Owner</a>. Find out how Yolanda became an online entrepreneur at<a href="http://www.OnlineEntrepreneurKnowHow.com">OnlineEntrepreneur Know How</a>. Enter your name & email for a freebusiness overview. Could this business help you earn the lifestyle you want?

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