The Importance of How We Value Time
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By :
Eric Lorence
Submitted
2008-04-10 14:51:51 |
How Valuable is Your Time?
If you're like me, than one would expect you put a great deal of value on your time. But have you ever considered the actual dollar amount? In business, time is as much an asset as property and money. For the entrepreneur, the idea of "paying your self first" is critical to any business plan.
But how can you pay yourself without first estimating the value of your time? Some would take their career income and use that as the amount, eight hundred dollars per week, twenty dollars per hour, or which ever your rate of pay.
The problem with using that measure, is that this is not your value, that is your employers value of you. Successful business people maintain the point of view that one is always self employed, no matter who signs the checks. This means performing at a personal level that far exceeds expectations. They place a value on their time that is much higher than their pay rate.
To achieve real success in business, whether at work or home business, understanding time as a valuable asset is key. Most Americans would not work for less than minimum wage at a "for profit" company. And many will not work for less than several hundred dollars per hour.
The key is to understand which daily tasks provide the most value, and eliminate those that provide the least. Of course "value" means more than income, as quality family time is also part of successful living.
Determine your own value, than work to increase that value through quality work, education, and personal development. Remember that time is a precious investment the same as money, so spend wisely. |
Author Resource:-
E. S. Lorence is a free lance writer, author, and Internet entrepreneur based in Alpharetta, GA.
He is also a premier resident expert at-THOUGHTSEARCH.COM
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