# The BIG idea in making money - no matter your occupation, niche, etc.

by vip-ip
18 replies
• |
Hey everyone,

Perhaps I'm confused, but it seems like a lot of creative people on the web chase projects, no matter how much their client is willing to pay them. If you're of legal working age - no matter what you do to earn money - read on. I suggest you get a pen and some paper just to follow along my model, to make it easier to understand.

To enlighten fellow Warriors who may not be used to "managing by the numbers" like me, here is the big idea - in content creation, in web design, or any other industry or business:

FIGURE OUT HOW MUCH YOU'RE WORTH PER HOUR.

An hour is a commonly accepted unit of time for which you can get paid. It's all math, no sleigh of hand or trickery. To figure this out, there's a simple formula:

Net worth = money after any applicable taxes. There's not much theory behind this, it's just commonly overlooked; there's money that you NEED to earn, then what you WANT to earn for fun/savings/other expenditures, and bam - that's your worth.

For instance: mortgage/rent (\$1000), food (\$400), transportation payments (\$300), miscellaneous expenses (\$300) - this adds up to a hypothetical need of \$2k [let's assume that's monthly]. Now, on top of that, you want to earn \$500 because you like traveling and want to save up for a vacation. Do the math, and your worth is a total of \$2,500.

Now, figure out how much time you work a month. Most people work 40-hour weeks, so a month is about 160 hours. Therefore, your hourly net worth is \$2,500 / 160 hours = \$15.63 per hour. If you live in the US and get approximately 30% of your paycheck's total subtracted for taxes, then that means your official pay must be right around \$20-\$21/hr.

As an entrepreneur, your job is to figure out how to make that, but that's not what this thread is about. However, taking 5 minutes to do this will HELP you figure that out. Going back to our total-need-is-\$2,500-a-month model: If you know that a 500-word article takes you a half an hour to write, and your hourly net worth is \$15.63, then you better ask for \$8 for that content today, or else you won't be able to feed and clothe yourself tomorrow (yes, I'm being a bit over-dramatic there). If a 10-page web site takes you a week, then that's 40 hours of work, which is worth at least \$625.

It's all math, folks.

Best Regards,
vip-ip.
• Hi vip-ip,

I adopt a different viewpoint myself. I never do things from a place of need. I set my self-worth from a place of wants. Whatever you are worth per hour is what you imagination this number to be.

Doing things from a practical/financial needs state of mind keeps you focused on your needs. You proceed to plan to live according to your needs. This cycle continues until you plan life according to your wants, your goals, your dreams.

Many adopt this frame of mind "just for now." "For now" winds up being their entire life.

This is why most people appear to be living life in a circle. They get the same results over and over with little progress along the way because their definite major purpose becomes "paying the bills", etc instead of adopting a grand vision of living life on their own terms.

Picture yourself making \$50,000 and hour over, and over and over....you will move into action to make it happen if you become emotionally involved with this idea.

Ryan Biddulph
Signature
Ryan Biddulph helps you to be a successful blogger with his courses, manuals and blog at Blogging From Paradise
{{ DiscussionBoard.errors[2386383].message }}
LOL Ryan, with all of your post's that I've been THANKING lately, you need to start writing self-improvement books or something, as I'll be BUYING them!!!

:p
{{ DiscussionBoard.errors[2389098].message }}
• Great post there, very much like the way an individual needs to derive the value their time. This post has also served as a reminder for me to re-calculate my hourly worth.

Thanks a ton for this wonderful post.
{{ DiscussionBoard.errors[2389408].message }}
Hi Ryan,
you are exactly right. This thought-network is very complex and hard and people loose their connection to this (if established) very often because it's not at all easy. And, by default most of the people live life to pay bills.
Signature
{{ DiscussionBoard.errors[2689031].message }}
• YOU ARE SO RIGHT.
{{ DiscussionBoard.errors[2387204].message }}
• If I only look at my hourly needs and rate myself there, I will never be able to reach the status of Millionaire. I can't work enough hours at \$21 an hour to every get there.

So I agree, let's look at making \$50,000 an hour and let that sink into my subconscious mind and see what happens.

This is a great place to share our thoughts, ideas and successes. Thanks for sharing yours.

Marcia
{{ DiscussionBoard.errors[2387384].message }}
• Cool way of thinking about it mate, going to need to raise my income substantially to get a better net worth. Or work less hours lol
{{ DiscussionBoard.errors[2387397].message }}
• I think the two ideas are similar. After all, my formula does have that second part:

If your desired profit is \$50,000 / hr, great - I guess my point was to not disregard the fact that unless you can make ends meet to begin with, you're not going to be able to sustain attempts at achieving success at all.

Best Regards,
vip-ip ...
Signature
{{ DiscussionBoard.errors[2387552].message }}
• I think this is a great strategy and a good reminder to me to focus on the money making activities and outsource the others. I think too many people try to follow small avenues and when you look at the bigger pictures there are better ways to make money.
Signature

Coming soon!

{{ DiscussionBoard.errors[2388623].message }}
• Correct, It's all math. Let us work our business harder so that we can get a good result of the math calculation.
{{ DiscussionBoard.errors[2393280].message }}
• Hi vip-ip... I thought about this that you wrote... An interesting and simple idea. I will apply and analyze the results... hmmmm...
Signature
{{ DiscussionBoard.errors[2401104].message }}
• yes vip you are totally right I also think of it that way!
{{ DiscussionBoard.errors[2412050].message }}
• yes i also agree it is all math
{{ DiscussionBoard.errors[2413965].message }}
• This breakdown is so very helpful. I am glad that you did it for me and all others.
Signature
{{ DiscussionBoard.errors[2688679].message }}
• "If you live in the US and get approximately 30% of your paycheck's total subtracted for taxes...."

I believe the word you're looking for is hijacked, not "subtracted."

I have to agree with ryan that your "worth" is not based on need, but on value, on what you put out. That would ideally be driven by the integrity of your dreams.
{{ DiscussionBoard.errors[2698050].message }}
• Banned
OP, the easiest way to die before your time is to keep setting short-term or medium-term goals for yourself. I call it short sighted kind of life.

I don't believe on living temporarily because I believe that I will live a very long life. So, I always set a long-term goal.
{{ DiscussionBoard.errors[2700403].message }}
• This is an interesting way of looking at things,cheers for sharing.
{{ DiscussionBoard.errors[2811223].message }}
• Thanks for sharing!!!! This is a good reminder to me to focus on how to have more money.
Signature
Affiliate Marketing Season Special: Earn Commissions as much as 70%. More Stuff Get Sold and Still More Stuff To Sell.
{{ DiscussionBoard.errors[2815791].message }}

• ### New Car Arrived from Austria

OptedIn

Greetings Folks, After a 3.5-month wait, my car finally arrived. To say that it is a beast would be a major understatement. Normally, I give my cars female nicknames, but ... [read more]

• ### Email subject line advice

Scott Stevens

Hi all, I use this subject line for UK marketing, if I don't know the owner's/manager's name: FAO manager - re: new customers (WATERBERRY CHIROPRACTOR) Fictitious business name, obviously. What ... [read more]

• ### What do you find difficult about starting a blog?

Dell365

This is just a quick question for those who plan to start a blog but haven't been able to start yet. 1) What is stopping you? What is delaying you? ... [read more]

• ### Do you know the 4 secrets your SEO agency doesn't want you to know?

WarriorForum.com in SEO

Find out what your SEO agency really thinks behind closed doors. Discover the top 4 secrets so you can improve your relationship. Being a punching bag is part of ... [read more]

• ### New fish

Rakee101

Im new to warrior forum and on my third attempt at runnig a successfull online venture. Seems to be moving along smoothly sofar trying to keep daily forward momentum in ... [read more]