Warriors I need a little help with this cheers

15 replies
Hey guys,

I'm trying to calculate what my time is worth
but my brain is coming up blank it seems after
a rough weekend....

Anyone know how this is done?

if I want to make $500,000.00 in 12 month
how would I calculate my hourly rate, weekly
rate, monthly rate?

--David
#cheers #warriors
  • Profile picture of the author Jared Alberghini
    To calculate your rate, I would use a calculator...

    Start:All Programs:Accessories:Calculator

    500,000 / 12 = $41,666 per month

    41,666 / 30 = $1,388 per day

    1,388 / 24 = $57.87 per hour (working 12 hrs/day : 1,388 / 12 = $115.74 per hour)

    - Jared
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    • Profile picture of the author Adeel_Chowdhry
      Originally Posted by webdesignhq View Post

      Start:All Programs:Accessories:Calculator

      500,000 / 12 = $41,666 per month

      41,666 / 30 = $1,388 per day
      Start: Turn Off Computer: Turn Off: Relax
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    • Profile picture of the author David_Thompson
      Originally Posted by webdesignhq View Post

      To calculate your rate, I would use a calculator...

      Start:All Programs:Accessories:Calculator

      500,000 / 12 = $41,666 per month

      41,666 / 30 = $1,388 per day

      1,388 / 24 = $57.87 per hour (working 12 hrs/day : 1,388 / 12 = $115.74 per hour)

      - Jared
      Jared, can you break that down even more to where you are only
      working 2 hours a day, 6days week?

      --David
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      • Profile picture of the author joblythe
        David

        Jared, can you break that down even more to where you are only
        working 2 hours a day, 6days week?
        You really need that calculator!

        Try $801 per hour for EVERY 2 hours per day EVERY six days a week EVERY week for a WHOLE year to reach your target.
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        Kind Regards
        Auntie Jo

        A PROSPEROUS 2009 TO EVERYONE!!
        Back Up Your Filez! or how about a . .PLR Pack! . . and an OTO Link Manager!
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        • Profile picture of the author David_Thompson
          Originally Posted by joblythe View Post

          David



          You really need that calculator!

          Try $801 per hour for EVERY 2 hours per day EVERY six days a week EVERY week for a WHOLE year to reach your target.
          I had a rough weekend brain not in order right now...lol

          --David
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          • Profile picture of the author David_Thompson
            Thanks guys this really help, again
            you guys are brilliant.

            --David
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  • Profile picture of the author joblythe
    Well David

    Let a "gal" help . . .

    $500,000 per year
    $ 47,666 per month
    $ 9,675 per week (rounded)

    Now depending on how many hours you want to work in a week, then . .

    A 40 hour week would require approx $240 per hour
    A 20 hour week would require approx $480

    a 4 hour week would require $$$$ a miracle . . . . . . .

    Hope that helps!

    All the best!

    P.S. Did you hear about the constipated mathematician . . . . .

    He worked it out with a pencil !!
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    Kind Regards
    Auntie Jo

    A PROSPEROUS 2009 TO EVERYONE!!
    Back Up Your Filez! or how about a . .PLR Pack! . . and an OTO Link Manager!
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  • Profile picture of the author julesbrad
    2 hours per day multiply by 6 days per week multiply by 52 weeks per year = 634 total hours worked in the year

    500k divided by 634 = $789 per hour
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  • Profile picture of the author joblythe
    David

    If you don't have any more "rough weekends" you could work 24/7 and only need to make $57 per hour!!

    (Reminder to me - Get out more!! - and maybe try a few rough weekends!!)
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    Kind Regards
    Auntie Jo

    A PROSPEROUS 2009 TO EVERYONE!!
    Back Up Your Filez! or how about a . .PLR Pack! . . and an OTO Link Manager!
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    • Profile picture of the author David_Thompson
      Originally Posted by joblythe View Post

      David

      If you don't have any more "rough weekends" you could work 24/7 and only need to make $57 per hour!!

      (Reminder to me - Get out more!! - and maybe try a few rough weekends!!)
      Jo, if you don't get out and do other stuff this IM business
      or any other business will get the better of you for sure...

      --David
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      • Profile picture of the author andyelite
        You can create your own spreadsheet (maybe not?) and play with the figures but the image below shows how you could make over $500,000 in a year, working 2 hours a day, 6 days a week, writing articles. Based on some dodgy assumptions like every article generating 50 visitors to a sales page each month with no fall off as time goes on. It shows 13 months because I did 13 x 4 week periods. It assumes you start off only writing one article an hour but as you get good that rises to 4 per hour (not unachievable). The income does not include any recurring sales, upsells or any other income you would generate from all the optins you would capture on their way to the sales page.

        I think that breaking it down into writing and submitting a few articles a day is easier to visualise achieving than trying to work out who will pay you $800 per hour. Just my 2 cents.



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        • Profile picture of the author David_Thompson
          Originally Posted by andyelite View Post

          You can create your own spreadsheet (maybe not?) and play with the figures but the image below shows how you could make over $500,000 in a year, working 2 hours a day, 6 days a week, writing articles. Based on some dodgy assumptions like every article generating 50 visitors to a sales page each month with no fall off as time goes on. It shows 13 months because I did 13 x 4 week periods. It assumes you start off only writing one article an hour but as you get good that rises to 4 per hour (not unachievable). The income does not include any recurring sales, upsells or any other income you would generate from all the optins you would capture on their way to the sales page.

          I think that breaking it down into writing and submitting a few articles a day is easier to visualise achieving than trying to work out who will pay you $800 per hour. Just my 2 cents.



          Andy, that is an awesome example of what one can do with their
          time brilliant man thanks...

          --David
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          • Profile picture of the author TheVCF
            The Bottom Line of the Old Consulting Rule of Thumb that we have always used is ...

            $1 / hour for every $1,000 Annually

            Which means if you want to make $500,000 Annually then you would need to charge @$500 per hour, you see?

            Some of the Assumptions that go into this Old Consultant's Rule of Thumb include:

            1) there are approximately 2080 billable hours per year, which takes into account, weekends, holidays, vacations, etc.

            2) @50% of your time is going to (actually) be spend on Non-Billable Tasks, like Sales and Marketing, Billing, Accounting, Travel, etc. etc.

            I hope this all helps and Have a Great Day!

            - Michael
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            • Profile picture of the author Kevin Riley
              David

              You only need to make $58.45/hour

              Here's how I calculated it:

              You work 364 day/year (being nice, I gave you Christmas Day off and you get an extra day off on Leap Years)

              You work 23.5 hours/day (I know, you could go 24 but I know how much you like your cuppa, so I gave you a wee break)
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  • Profile picture of the author bobsstuff
    andyelite,
    I really like that example. Breaking things down into tasks rather than $/hr
    Someone could go crazy in Excel playing with numbers.
    Thank goodness I can only do a very simple spead sheet so far or I'd be plugging in numbers right now.
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    Bob Hale
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