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Further
Reading ...
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10 Effective, Smart Tips To Reduce Your Business Costs - I key Benney CEO Mscsrrr New York City
Hello, do you have a website and sell something on the internet? If yes, may I offer you 10 effective ways to reduce your cost of doing business online. 1. Barter If you have a business you should be bartering goods and services with other...
7 Tips to Jump Start your Public Speaking Success - Sandra Schrift
Publishing Guidelines: You are welcome to publish this article in its entirety, electronically, or in print fre*e of charge, as long as you include my full signature file for ezines, and my Web site address(http://www.schrift.com) in hyperlink for...
Live and Play in Your Own Backyard: Golf Communities in Williamsburg - Elaine VonCannon
Live and Play in Your Own Backyard: Golf Communities in Williamsburg Golf has long been one of the favorite leisure activities of professional and retired individuals. In Williamsburg, Virginia and surrounding areas, the professional and retiree...
Monitoring Your Credit Is Easy As 1-2-3! - James Dimmitt
Thanks to the FACT(Fair and Accurate Credit Transactions) Act, all U.S. residents will be allowed one free credit report annually from each of the three major credit reporting agencies - Equifax, TransUnion, and Experian. This legislation makes it...
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How Do You Put a Value on Your Time?
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Written By:
Janice D. Byer, MVA
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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 ime. - continued below ...
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continued ...
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.
About the Author
Janice Byer is a certified Master Virtual Assistant and owner of Docu-Type Administrative & Web Design Services (http://www.docutype.net). Visit her website to read more of her articles, sign up for her award-winning newsletter, and browse her various services, testimonials and resources.
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Why Late Night Brainstorming Could Be E.S.P. - Bobby Walker
I’m sure at some point in your life; you have awaken from a dead sleep, scurried to your office or kitchen to grab a notepad and pen, and wrote down something inspirational. You spent all day trying to come up with ideas, but nothing worth...
Fast color digital printing for your four color printing - Marlon D Ludovice
There are a lot of ways to print your project materials using the technology in Digital color printing. In fact it can be done with any Mac or PC file including Quark, Publisher, Pagemaker, CorelDraw and all popular file formats available in your...
The Ways To Reach your Dream - Odilia Paula
The Ways to Reach Your Dream © 2005, Odilia Paula Founder http://www.MakingMoneyGetRetire.com Several days ago, I write an article to show you what you need to do, if you decide that you want to have your own money making site, if you haven’t read...
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