Do you know the true value of your time?
“The hidden costs of wasting time are tremendous and they suck money out of your company every day.” 7 Secrets Your Steel Suppliers Won’t Tell You, Adam Osborn
It’s important to know what your time is worth and to avoid working on low value tasks. Respect yours and others time. You want to always be increasing the value of your time.
Below is an exercise to define how much your time is worth, so you can then find more efficient ways to manage it.
- How much OR what do you want to earn a year?
- How many days do you OR do you want to work this year?
- How many hours do you OR do you want to work a day?
- Multiply lines 2 and 3 for total annual hours.
- Divide lines 1 by line 4 to get your base hourly rate.
- Use 3 as your productivity multiple.
- Multiply lines 5 and 6 to get your rate per hour.
Once you know what your time is worth per hour, take a hard look at every task you’re doing. Evaluate each one to determine if it’s something that should be delegated to someone else. Be ruthless about getting tasks off your place that you shouldn’t be doing.
Business owners tend to want to do things they shouldn’t be doing because they don’t want to release the control.
You can’t go to the next level until you let go of that control and allow other people to be doing the things that you’ve delegated.
Business owners need to be working on the big picture items and not the daily tasks.
Start by picking 3 daily tasks that you shouldn’t be doing and train someone else to do it.
“If you don’t know what your time is worth you can’t expect the world to know either.” – Dan Kennedy
It is best to go with a proven expert in their field. Call us if your company requires a secure supply of stainless sheet, aluminum sheet, cold-rolled sheet or galvanized sheet metal.
When you are ready to save time, money and make your steel buying easier, give us a call. Our sales team is waiting to work with you.
Ask us how to make a quick $500 for a referral.
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