Much as former Secretary of Defense, Donald Rumsfeld described the wars in Iraq and Afghanistan, the internet marketing battlefield for many is "a long, hard slog."
Warrior, I am your ally. Let us revel in our triumphs and learn from our defeats together. What doesn't kill us will make us stronger.
Warrior, I am your ally. Let us revel in our triumphs and learn from our defeats together. What doesn't kill us will make us stronger.
$75 an Hour - What is Your Time Worth?
Posted 09-27-2008 at 08:29 AM by John Rogers
Do you know how much your time is worth? Do you know what activities pay you the most for your time?
I don't analyze my activities in terms of the monetary return per hour of activity nearly enough. Investing a little time in this kind of analysis can return big dividends if you only put the information to use.
On a broader scale, you can start by analyzing your PayPal account each month. On the first day of each month, download all transactions for the previous month. Open a spreadsheet, and copy the transactions for each category of activity to a separate worksheet, then total the credits and debits for each activity to see which paid well, and which may not be worth your time to continue doing.
Let's say for example, I have three membership sites and ran two WSOs in a given month. I would copy and paste the transactions for each of those activities to their own worksheet. On totaling the debits and credits, I might see that one membership site is returning a net profit of $650, one $475, and the other only $125. I would then consider how much time and effort I was investing in the one that returned only $125. Is there anything I could easily do to improve the return, or would I be better off closing that membership and investing that time in further improving my return on the other two? Or maybe invest that time in a new project?
One of your best investments of time can be doing simple analysis of your business activities in terms of financial return.
To be continued...
$75 an Hour! Newbies Can Do This!!
I don't analyze my activities in terms of the monetary return per hour of activity nearly enough. Investing a little time in this kind of analysis can return big dividends if you only put the information to use.
On a broader scale, you can start by analyzing your PayPal account each month. On the first day of each month, download all transactions for the previous month. Open a spreadsheet, and copy the transactions for each category of activity to a separate worksheet, then total the credits and debits for each activity to see which paid well, and which may not be worth your time to continue doing.
Let's say for example, I have three membership sites and ran two WSOs in a given month. I would copy and paste the transactions for each of those activities to their own worksheet. On totaling the debits and credits, I might see that one membership site is returning a net profit of $650, one $475, and the other only $125. I would then consider how much time and effort I was investing in the one that returned only $125. Is there anything I could easily do to improve the return, or would I be better off closing that membership and investing that time in further improving my return on the other two? Or maybe invest that time in a new project?
One of your best investments of time can be doing simple analysis of your business activities in terms of financial return.
To be continued...
$75 an Hour! Newbies Can Do This!!
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