Work At Home – Measure Your Time In Dollars

What do people who work at home do a lot of? We work long hours developing the most state of the art product or services. With all this work, do we even know how much our time is actually worth?

For instance, if you are having a conversation with a friend who works at a department store, they can tell you that the department store pays them an amount of dollars per hour for their time. Thus, an hourly worker has no problem stipulating what their time is worth. The same holds true for those who work on either commission or salary.

However, if you work at home, things are not quite so simple. For starters, many entrepreneurs work seventy to eighty hours per week. Moreover, even if we are not staring at our monitors, we are often thinking about work. The distinction between work and home becomes even murkier if you work is something that you really enjoy doing.

So why am I stressing so much that we entrepreneurs determine how much our time is worth? I am doing this so that you value your time, and become more efficient. Those of us who work at home can truly say that time is money. If we can become more adept with our time, we can make more money. With that being said, I have devised a simple formula which you can use to actually determine how much your time is actually worth. You just need to take your income for a specific period, and divide it by the number of hours in that period. I know that it is not the Theory of Relativity, but it is a decent start. True, this calculation totally overlooks the amount of time we spend thinking about work when we are not at our computers, in addition to failing to acknowledge our expenses. Nonetheless, it will do its job for what we need.

I strongly advise that you base your calculation over a longer stretch of time. I would suggest a month, if possible. The reason why you want to do this, is because you want to avoid your results being distorted by uncommon occurrences, such as a missed day of work, or extreme customer fluctuations.

Do not be alarmed if you find that the amount which you are earning per hour is low. This is very natural. As soon as you can better monetize your time, your profits will go up, meaning that you are earning more per hour.

Nonetheless, you now have a starting point from which you can measure your progress. This formula will also give you an objective set of units upon which to measure improvement in the value of your time if you work at home.

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