Integrated Bz Strategies: Entrepreneurs' Smart Business Plan 7

Posted by IntegratedBzStrategies under Startups
From http://optimumsalesandmarketing.blogspot.com 4931 days ago

If you don't put a value on your time - who will? What are you worth per hour? Time is money. Many entrepreneurs do not survive the first year - not because the business does not have potential but because of cash flow problems. New entrepreneurs also don't realise how much of their time will be "non revenue generating". There is a general consensus that 3 hours per day is the average revenue producing time for those travelling to clients. It is imperative to take this into consideration when putting a value on your time.

Who Voted for this Story

Top BizSugar Users

This week's most active BizSugar users. Join Them!

Comments

Written by lyceum
4931 days ago

I think Kerry Kenmare is on the right track. In order to make a philosophical point, I have valued my time by relate it to an objective value like the gold standard and measure my services according to the supply and demand of silver. My fee in "fiat money" will go up, if the silver price is going up, and down if the silver price is going down on the precious metals (commodity) exchange. Do you understand the deeper point of this kind of pricing?

From my EGO blog, February 1, 2009:

I am open to discuss different terms of exchange of values, i.e., delivery of service and payment. As a supporter of objective money, i.e., precious metals, my standard price is 1 kg / ~35.27 oz of silver (Ag) according to the buy rates at GoldMoney for a 1/2 working day (circa 4 hours, effective time).

- 0 +