infoready
I
was wondering what people felt their time is worth. Also, do you feel
it's worth different amounts depending on what you're doing?
For example, I do web design and charge $45/hr, but I probably only
make an average of $30/hr or less from my eBay business.
Also, have you figured out how much you make doing different activities?
Is that even important?
RoyB
Hello
Justin.
I think the area has alot to do with it. Both geographicaly and marketing
wise. And also how you were raised to think.
Good question! Makes you think.
infoready
Yeah,
I forget that people aren't all in the U.S. For example, there is
some amazing web design, and programing talent on elance going for
$20/hour, because they designers are working out of India.
Sometimes the things you've learned when growing up, hold you back
though. It would probably be useful to value you your time as highly
as possible, and then work hard to learn the skills to make that a
reality.
RoyB
Justin
Your right! You gotta have a DREAM to work towards! Otherwise you
just wonder around aimlessly.
I read somewhere that a persons worst enemy to accomplishing their
dreams, is not the cruelty of society, but themselves.
Work your dream! Live your dream!
Bill
Shor
It
is more important what other people think your time is worth than
what you think it is worth. They are the ones who pay you.
Here's a tip I got from Brian Tracy on how to raise your personal
hourly wage. Figure out what you currently make. Then divide it by
the hours you work for that amount. That is your hourly base wage.
Do only those things that earn you that hourly wage or more. Anything
that you do, which is not earning you that amount, either stop doing
it or hire someone else to do it for you. This frees up your time
to do those higher income things. Your average will continue to rise,
and you need to keep readjusting what you delegate to others.
For example, if you are charging $45/hour for web design, but $30
for ebay, you could probably hire someone else to list that ebay stuff
for you for $10/hour. Take that extra time you just 'bought' and use
it to either do more web design, or figure out how to get more web
design jobs. Or, just stop doing the ebay stuff if you can get the
additional web design work.
I realize this isn't practical for everyone in all circumstances,
but if you keep it in mind, it can help you steadily raise your income
level quite a bit.
Bill
infoready
Bill,
that's an interesting concept. I think it's good to have a base hourly
rate, that you don't go under. That said, I can only do as much web
design as I have clients. If I figured out the average I spend on
web design, after taking into consideration the cost of getting new
clients, it would probably be lower than the $30 I'm getting for eBay.
The other thing that is hard to figure into hourly rate is things
that produce residual income. If I spend 2 hours selling someone on
a membership to RREM, that first month I've only made $10 an hour,
but if they stay a year, it goes up to $120 an hour, because that
customer was worth $240 over the one year period.
Then again, if I'm having trouble paying rent this month, it won't
help me at all, because I won't get the first comission check until
after rent's due.
A lot to take in :)
Louis
Perhaps
with publishing it's difficult to quantify an hourly income because
it varies of course on how much you sell - and that's something not
directly linked to the amount of time spent, but more on how it's
marketed.
One example of this is with Yanik Silver's Instant Sales Letters -
he told me that over a 2 year period he sold about $250,000 worth
of that product. And that's a pretty inexpensive product (around $40).
He probably spent a comparatively short amount of time creating the
product, writing the copy, and setting up the marketing process. The
rest of the income comes from the system just running itself, with
just some affiliate & customer support thrown in.
infoready
He
probably spent a comparatively short amount of time creating the product,
writing the copy, and setting up the marketing process. The rest of
the income comes from the system just running itself, with just some
affiliate & customer support thrown in.
Yeah, that's the great thing about viral marketing. You spend some
time up front and then it virtually runs itself. That's also the plus
for affiliate programs that pay residual income.