Understanding the Value of your Time

Do you know how much your time is worth? Do you know how to value your time? If you have an understanding of how much your time is worth then you will be a lot more careful about how efficiently you manage your time and how productive you are within each block of time.

How to Calculate the Value of your Time

In Rich Schefren's "Internet Business Manifesto" he describes a system for computing the value of your time which was used by John Reese. This system not only calculates the value of your time but also how to improve the value of your time. Start by writing down a goal figure of how much you want to earn, next write down how much you have earned in the last three months and then multiplying this figure by four. What you have made in the last three months multiplied by four represents your current reality. Subtract your current reality from your goal figure and you will find out how much you need to increase your income in order to get to your desired income.

To calculate the value of your time write down how much you plan to earn this year, how many hours a day you work and days per week. Now calculate how many productive hours you work - productive hours are hours you work that are directly related to profit. Work out how many hours you have available to you to make your desired income and divide your desired income by the number of hours you have available and then by 60 to get your value for each minute.

How to Improve the Value of your Time

Once you have calculated the value of your time using the above equations you can work out how to improve the value of your time. The secret to maximizing the value of your time is to maximize your productive hours. Most people only have about half an hour of real uninterrupted productive time a day. The rest of the day is spent in non-productive tasks such as visitors, answering phone calls, reading and replying to emails, reading ebooks or books, cleaning your office or browsing the internet. Although some of these activities may be good and even necessary they are not productive. By focusing on tasks which are productive - manufacturing, marketing, forming joint ventures, or managing money making projects, you are able to best improve the value of your time.

Improve the Value of your Time with Super-Productive Tasks

By minimizing non-productive tasks and maximizing productive hours you can improve the value of your time, but another way you can improve the value of your time is by doing some super-productive tasks. Super-productive tasks are tasks which create systems for more effectively and efficiently performing productive tasks. Super productive time means that you get more out of your productive time and so multiplies the value of your time.

In conclusion, the value of your time is the amount you earn per hour spent. This money is really only earned through productive time and so by maximizing your productive time and minimizing non-productive time you are able to maximize the value of your time. Super productive time can also multiply the value of your time by increasing your effectiveness and efficiency during productive time.