"How much is my time worth today"

meforever

In Business we all need to ask this question every day. Why did I quit my job. I swapped one bad boss for another...... OMG..ME... Would you hire yourself. Please don`t answer that question
Most fall in this Zone throughout their entrepreneurial life. For me it comes back down to reverse engineering and simple math. Average person works 2000 hrs/Year. If this means you earn 50 Euro/hr then you must allocate your time accordingly and not engage in stuff that will not make you one cent. Time is the only commodity we have and its ticking every second of every day. This is not my philosophy, it is merely borrowed from all the great leaders. Business is about you and your personality, and your ability to get people to put their trust in you. Its so so easy to just plod along and achieve very little in life. The cemetary`s of the world are full of such people. Get it right and you can set you, your family and the next generation up in poll position.......Get it wrong and ....and......and...!

dudara

I completely agree. Since I started work in professional services, I have learned to place a lot more value on my time, especially personally. Clients expect value for their money, so you should demand the same from yourself. When you do a little bit of maths, the picture becomes quite clear.

An example would be queuing at a petrol station for ages when prices change. A 60 litre tank with 2-3c saving = €1.20 - €1.80 saving. Is that worth my time?

Is it worth paying €30 to get a cleaner for two hours, so that I have two more hours to myself at the weekend, especially cause I work 8am-8pm during the week?

meforever

dudara wrote: »

I completely agree. Since I started work in professional services, I have learned to place a lot more value on my time, especially personally. Clients expect value for their money, so you should demand the same from yourself. When you do a little bit of maths, the picture becomes quite clear.

An example would be queuing at a petrol station for ages when prices change. A 60 litre tank with 2-3c saving = €1.20 - €1.80 saving. Is that worth my time?

Is it worth paying €30 to get a cleaner for two hours, so that I have two more hours to myself at the weekend, especially cause I work 8am-8pm during the week?

Hi Dudara

I take your point 100%. It is estimated that up to 70% of our time is utterly wasted each day ? Included in this might be checking e mail, social media, talking about the weather and engaging in useless chit chat/gossip, etc. If we are not growing we are Dying. Perhaps added to that we should consider delegation where at all possible.
The magic happens when a business can run on autopilot. That has to be the end goal for us Entrepreneurs...... to work on their business rather than in their business. Then and only then can the question ... " How much is your time worth" be truly answered

pedroeibar1

Oh dear, you and I seem to be poles apart.

meforever wrote: »

In Business we all need to ask this question every day. "How much is my time worth today"

Why should we waste time by asking it every day? Why not answer the question on Day1 and reconsider it periodically?
Firstly, I disagree with you figures of “Average person works 2000 hrs/Year” – the average person is AT work for about 1400 hours and not necessarily working efficiently. * Self-employed and many seniors work considerably longer hours – when I was an employee I did some of my best work in the evenings or weekends, e.g. thinking, while sitting on a garden mower.

meforever wrote: »

……you must allocate your time accordingly and not engage in stuff that will not make you one cent……

Of course time management is important (particularly when managing your own ‘free time’) but the monetary aspect of the above is crass lifecoach nonsense, trotted out by self-appointed ‘gurus’. In my experience those who strictly follow that rule rarely achieve anything significant, know the value of nothing and socially loose out considerably. They also are bores, (not directed at you).

meforever wrote: »

…..Its so so easy to just plod along and achieve very little in life. The cemetary`s of the world are full of such people.

Yes it is easy to plod along and achieve little. However, cemeteries also contain young idiots who did not get the work/life balance right and are now pushing up daisies. Also, not everyone is made to be a leader or entrepreneur, someone still needs to do the menial tasks. I do not look down on those, the world needs plodders. Your post appears to disdain them, while I respect anyone who does the task well e..g. the guy at the Council recycling centre I use is cheerful, keeps the place spotless, helps auld wans, always on the go and probably is paid very little. I admire and love the professionalism of those who set out to be the best, no matter what calling, and take pride in their work. ‘Real’ waiters in France are a good example, they know their trade and take pride in doing it correctly (they serve an apprenticeship, graduating from the blue to white apron when qualified.) Unlike the waiters in the US who usually are clueless wannabe actors, working under sufferance and only for the best tip they can get. Same professionalism in the French kitchens, where chefs graduate from white to black buttons. And they serve their time, and are intensely trained, unlike the cooks who call themselves ‘chef’ because Daddy paid for a ten-week course in Ballymaloe or wherever (mini-rant over).
Real success is a work/life balance. I waste some time (like on this Board), do quite a bit for no monetary reward whatsoever but that is counterbalanced by a sense of reward/worth, particularly when a person or project I have helped gets to the next level.
* Frequently that is not their fault, but that of cr@p management / leadership / structures. Does Ireland need 30-odd county councils, or HIQA & HSE & Dept of Health?

edit - posted this without seeing your post above on socal media. I fully agree with you there.

meforever

Hi Pedro

You seem to have misinterpreted most of what I said. I have some downtime today as my kid is at home from school today. I may reply later.

pedroeibar1

meforever wrote: »

Hi Pedro

You seem to have misinterpreted most of what I said. .

Yes, I was afraid of that when I read your later post (problem of writing a long post online, not seeing what has been posted subsequently.) I see where you are coming from, on many things I'd say we agree more than disagree, no need to respond.
Rs
P.

gargargar

meforever wrote: »

If this means you earn 50 Euro/hr then you must allocate your time accordingly and not engage in stuff that will not make you one cent.

In some senses this is a narrow view. How do you value time with a child, or working on a relationship?

dudara wrote: »

An example would be queuing at a petrol station for ages when prices change. A 60 litre tank with 2-3c saving = €1.20 - €1.80 saving. Is that worth my time?

Is it worth paying €30 to get a cleaner for two hours, so that I have two more hours to myself at the weekend, especially cause I work 8am-8pm during the week?

Fully agree with this.

meforever

Hi Gargar

It`s important to state that we all have 24hrs/day so we choose to use it /spend it/waste it/ any way we like. We have a choice.......That`s what separates us from the animal kingdom I suppose. lol We constantly intertwine our personal/social/business lives as Entrepreneurs. All I can say is that any time related to my family in its very broad definition would not be deemed part of my workday.
My typical day would starts very very early and has many" Business time" "family time" "social time" blocks. I know that this would not work for all. I obviously have go to bed early as a result as I am getting old now.. My greatest productive time is when all are asleep in the morning.

Today I had an interesting day. I woke up at 8, I stretched for half an hour, then I did some sales work on linkedin for a few hours. I had a 2 hour call then with a tax expert on international structures and tax. By the end of the call I felt like I might just snap the head off him if it didn't end soon, and wondered how people can spend their life just dealing with tax and not end up in an asylum. My plan then was to have lunch, but a partner in the US for a project of mine needed help filling out a license application, 50 pages worth and a brief on the taxation situation. After that I raced to the office to print out a square mile of documents for various things. Considered lunch again but got another call. Then went to play a football match for my club - and at 4pm in the afternoon sun in Crete my current location this is not easy for a Celt. Arriving home I managed to get the fillet out of the freezer before a mate called who is buying a house and needed a bunch of advice. I step to the kitchen afterwards to try and cook said steak when skype starts buzzing and a new eminent contact calls for the first time to discuss opportunities for the current more exciting business endeavour. An hour later, we are 9pm now I get to eat for the first time in the day. That could seem like madness, but lately I've been experimenting with one large meal a day, low carbs and sugars almost keotgenic recommended by the latest science. Strangely enough I never get hungry anymore if I avoid the sugars. The partner calls for an update on the eminent caller and the discussion ensues as to whether the eminent caller can be trusted. Finally the fillet gets to be cooked, the wine is opened, and the final episode of 'Trapped' gets played. At numerous times it reminds me with great laughter and joy why I would rather be locked up somewhere then live in northern scandinavia again. And now to the football.

It could seem like madness but I wouldn't have it any other way. Routine is what is the killer, the taker away. As long as you can fit in some things you love amongst the madness life is enjoyable and positive, and the pangs of regret don't seep in. A bit of Yoga, business, football, new acquaintances, a gourmet meal, entertainment....a balance in my mind at least...

Bandara

[Deleted User] wrote: »

Today I had an interesting day. I woke up at 8, I stretched for half an hour, then I did some sales work on linkedin for a few hours. I had a 2 hour call then with a tax expert on international structures and tax. By the end of the call I felt like I might just snap the head off him if it didn't end soon, and wondered how people can spend their life just dealing with tax and not end up in an asylum. My plan then was to have lunch, but a partner in the US for a project of mine needed help filling out a license application, 50 pages worth and a brief on the taxation situation. After that I raced to the office to print out a square mile of documents for various things. Considered lunch again but got another call. Then went to play a football match for my club - and at 4pm in the afternoon sun in Crete my current location this is not easy for a Celt. Arriving home I managed to get the fillet out of the freezer before a mate called who is buying a house and needed a bunch of advice. I step to the kitchen afterwards to try and cook said steak when skype starts buzzing and a new eminent contact calls for the first time to discuss opportunities for the current more exciting business endeavour. An hour later, we are 9pm now I get to eat for the first time in the day. That could seem like madness, but lately I've been experimenting with one large meal a day, low carbs and sugars almost keotgenic recommended by the latest science. Strangely enough I never get hungry anymore if I avoid the sugars. The partner calls for an update on the eminent caller and the discussion ensues as to whether the eminent caller can be trusted. Finally the fillet gets to be cooked, the wine is opened, and the final episode of 'Trapped' gets played. At numerous times it reminds me with great laughter and joy why I would rather be locked up somewhere then live in northern scandinavia again. And now to the football.

It could seem like madness but I wouldn't have it any other way. Routine is what is the killer, the taker away. As long as you can fit in some things you love amongst the madness life is enjoyable and positive, and the pangs of regret don't seep in. A bit of Yoga, business, football, new acquaintances, a gourmet meal, entertainment....a balance in my mind at least...

Slacker !

Bandara

Bandara wrote: »

Deleted User wrote: »

Today I had an interesting day. I woke up at 8, I stretched for half an hour, then I did some sales work on linkedin for a few hours. I had a 2 hour call then with a tax expert on international structures and tax. By the end of the call I felt like I might just snap the head off him if it didn't end soon, and wondered how people can spend their life just dealing with tax and not end up in an asylum. My plan then was to have lunch, but a partner in the US for a project of mine needed help filling out a license application, 50 pages worth and a brief on the taxation situation. After that I raced to the office to print out a square mile of documents for various things. Considered lunch again but got another call. Then went to play a football match for my club - and at 4pm in the afternoon sun in Crete my current location this is not easy for a Celt. Arriving home I managed to get the fillet out of the freezer before a mate called who is buying a house and needed a bunch of advice. I step to the kitchen afterwards to try and cook said steak when skype starts buzzing and a new eminent contact calls for the first time to discuss opportunities for the current more exciting business endeavour. An hour later, we are 9pm now I get to eat for the first time in the day. That could seem like madness, but lately I've been experimenting with one large meal a day, low carbs and sugars almost keotgenic recommended by the latest science. Strangely enough I never get hungry anymore if I avoid the sugars. The partner calls for an update on the eminent caller and the discussion ensues as to whether the eminent caller can be trusted. Finally the fillet gets to be cooked, the wine is opened, and the final episode of 'Trapped' gets played. At numerous times it reminds me with great laughter and joy why I would rather be locked up somewhere then live in northern scandinavia again. And now to the football.

It could seem like madness but I wouldn't have it any other way. Routine is what is the killer, the taker away. As long as you can fit in some things you love amongst the madness life is enjoyable and positive, and the pangs of regret don't seep in. A bit of Yoga, business, football, new acquaintances, a gourmet meal, entertainment....a balance in my mind at least...

Slacker !

I know! Should have skipped the steak!!

StupidLikeAFox

If you are to look at life this way surely posting on boards must be costing you all a fortune?

meforever

Deleted User wrote: »

Today I had an interesting day. I woke up at 8, I stretched for half an hour, then I did some sales work on linkedin for a few hours. I had a 2 hour call then with a tax expert on international structures and tax. By the end of the call I felt like I might just snap the head off him if it didn't end soon, and wondered how people can spend their life just dealing with tax and not end up in an asylum. My plan then was to have lunch, but a partner in the US for a project of mine needed help filling out a license application, 50 pages worth and a brief on the taxation situation. After that I raced to the office to print out a square mile of documents for various things. Considered lunch again but got another call. Then went to play a football match for my club - and at 4pm in the afternoon sun in Crete my current location this is not easy for a Celt. Arriving home I managed to get the fillet out of the freezer before a mate called who is buying a house and needed a bunch of advice. I step to the kitchen afterwards to try and cook said steak when skype starts buzzing and a new eminent contact calls for the first time to discuss opportunities for the current more exciting business endeavour. An hour later, we are 9pm now I get to eat for the first time in the day. That could seem like madness, but lately I've been experimenting with one large meal a day, low carbs and sugars almost keotgenic recommended by the latest science. Strangely enough I never get hungry anymore if I avoid the sugars. The partner calls for an update on the eminent caller and the discussion ensues as to whether the eminent caller can be trusted. Finally the fillet gets to be cooked, the wine is opened, and the final episode of 'Trapped' gets played. At numerous times it reminds me with great laughter and joy why I would rather be locked up somewhere then live in northern scandinavia again. And now to the football.

It could seem like madness but I wouldn't have it any other way. Routine is what is the killer, the taker away. As long as you can fit in some things you love amongst the madness life is enjoyable and positive, and the pangs of regret don't seep in. A bit of Yoga, business, football, new acquaintances, a gourmet meal, entertainment....a balance in my mind at least...

Great insight into " A Day in the life of "Loved it all.

meforever

StupidLikeAFox wrote: »

If you are to look at life this way surely posting on boards must be costing you all a fortune?

"Quality rather than quantity" Replying on any forum should be articulate, precise and relevant, allowing time for punctuation before it's published. Nobody should assume they have a right to take time from any contributors day. What sometimes works best is placing the reply "in the third person" so as not to direct it at any one person. "Text" can be cruel and misrepresented. That is why a meetup works well so that people here get to know each other a bit on an individual basis........ Hope that helps.