What's Your Time Worth?

Read time: 1 minute & 30 seconds

Welcome back to The Leap! A newsletter to help individuals and businesses take their productivity to the next level.

Do you know the value of your current time?

Let’s jump into it and figure it out!

What’s Your Time Worth?

If you are a business owner or aspire to own your own business, you’ll quickly learn that time is your most valuable asset.

But most business owners never figure out the value of their time. Thankfully, it takes less than 60 seconds.

Here’s the formula:

I work ___ hours per week and I make $___ per week.
$___ ÷ ___ hours = hourly rate

Here is a quick example:

I work 30 hours per week and I make $2,500 per week.
$2,500 ÷ 30 hours = $83/hour

Why is it valuable to know this information?

Because now you can make informed decisions on what tasks you should be working on.

Let's break down those 30 hours and say 15 hours are going towards high-leverage activities that help produce that $2,500/week.

The other 15 hours are being spent on low-leverage activities.

Now what if you could find someone for $15/hour to do those low-leverage activities for you?

You do it. Immediately. Because it's not costing you $15 an hour, it's saving you $68 an hour.

That's right, if you were to do those tasks yourself, you would be losing $68 per hour.

That's because you're not able to work on the high-leverage tasks and earn your rate of $83 per hour.

This is how you grow your business. You understand the value of your time and you spend it on the highest leverage activities.

That’s it for this week.

Whenever you’re ready, here’s how I can help you grow your business:

• Systems & Workflow Optimization: I help businesses, coaches, and consultants make more money while working fewer hours by improving their systems & workflows. Book a free 1:1 call and we’ll discuss how we can implement better systems into your business.

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