Thursday, April 9, 2009

Figuring Out What An Hour of Your Time is Worth:

The Three Types Of Goals

You need to have a short-range, a mid-range, and long-range goals.

That’s a whole discussion in itself: setting goals. We just don’t have time for that tonight.
But it’s extremely important that you set goals for your future success. I'm going to show you why you need to do that.

Our next point: You want to figure out what an hour of your time is worth.

By knowing what an hour of your time is worth based on your goals, it helps you to quickly decide and make decisions that will help you to either benefit or to hinder your business.
Let’s run through an example of this:

Say that you want to make $500 a month. This means you need to make $125 week or $18 per day. How many hours a day do you want to work? You want to work two hours a day? That means that you need to produce -18 divided by two - $9 an hour of income to reach your income goals.

Both below and in the cheat sheet you can fill this out to find your hourly requirements.

1)I want to make (a)______ a month.

2)This equals (b)_____ per week/(c)_____ per day.

3)I want to work (d)_____ hours a day.

4)This means I must produce at least (c/d)_____ an hour of income to reach that goal.

When you look at it that way and you break down a monthly goal to a weekly to an hourly goal, it really doesn’t seem that much to make, does it?

Now you’ll know that you need to produce $9 an hour to reach that goal.

Now, if you want to make $1,000 a month, then it’s $250 a week, $36 a day, about $18 an hour.

Why is this an important number?

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