Monthly Archives: January 2013

Do You Know How Much Your Time Is Worth?

Hey everyone!

I’m sorry I missed you all last week.  I came down with a nasty case of that awful flu that’s been going around!  But, I’m all better now and back up to speed.  So, let’s talk about what an hour of your time is REALLY worth!

A Little Refresher

If you remember, in my last post I told you to come up with a number for your yearly income that you would like to make.  This number should be one that is within reason of you being able to attain fairly soon.  This doesn’t mean you can’t make a million or more per year, but you probably won’t start off making that kind of money.  So, choose something realistic for now, and adjust the number as your business grows.

Doing The Math

For the sake of demonstration on this blog, let’s say the number you choose is $60,000 per year.  Now, you’ll need to divide that number by 12, since we have 12 months in a year, and it comes to $5,000 per month.

Next, we take that $5,000 and divide it by the number of days in a month to get our daily income.  I like to use the number 30 rather than 31, but you could use 31 if you wanted to.  So, $5,000 divided by 30 is about $167.00 per day.

Now For The Fun Part

Now, here’s where it gets FUN!!!  You’re probably looking at that $167.00 and thinking you need to divide it by eight, because there are about eight working hours in the average day.  Right?  WRONG!!!  Why?  Because NOBODY WORKS EIGHT HOURS A DAY!  That’s right!  I said nobody works eight hours a day.

I used to work for a corporate office several years ago.  I started work at 9am, and I left the office at 5pm.  I had an hour for lunch, I think.  So, that hour for lunch cut my work day down to seven hours.  But, I didn’t work seven hours either!

You see, I also got two 15 minute breaks during the day – one in the morning and one in the afternoon.  That cut my work time by another half hour.  But, I didn’t work six and half hours either!

There were plenty of times when we would have meetings, and during those times I wasn’t actually doing any productive work.  And there were office parties for babies and birthdays and farewells, and there were water cooler conversations, and of course everyone uses the bathroom and I would often stop to visit with my co-workers on the way back to my desk.  In other words, I spent very little time actually working.

Not In An Office?  You’re Not Immune

With your booklet business, you may be working from home, but it’s really no different.  You can’t count eating lunch (unless you ARE actively working during your lunchtime), driving the kids to school, watering your plants, walking your dog, using the bathroom, or any other non-productive activity that is unrelated to your work as work time.

So, what you need to do is come up with how many productive work hours you can get in each day.  It’s not as easy as you think.  A productive work hour is one hour of your time where you are actively and constantly working to achieve a business goal – usually a business goal that results in you making money.

A while back a survey was taken of the average executive in America.  They didn’t even get ONE productive hour per day in at the office!  They only got about 23 MINUTES per day!

For myself, I am very dedicated.  I do my very best to get in two productive work hours per day.  Some days I can do even better and get in three or four, but that’s pushing it.  Try actually working for just one hour straight without letting your mind wander, or allowing yourself to daydream, or doing ANYTHING else and you’ll see why it’s so tough!

Now, given our figure of 167.00 per day, if we divide that by two productive work hours, we would get $83.50 per hour.  And if you’re getting two productive work hours in per day, that’s what one hour of your time is worth.

So, next time you pick up the phone to make a non-business call during your work hours, remember how much your time is worth!  You might just want to save that call for later – after your working hours!

To your riches!

Kim Hillman

PS:  Have you heard about my free ecourse, “12 Ways A Booklet Can Turn Your Writing Into Cash!”  Get it here now!

Get my ebook, “Publish Outside The Box” here!

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The One Thing You Absolutely MUST HAVE In Order To Make A Profit This Year

You’ve probably thought about it before.  Most entrepreneurs do regardless of what kind of business they’re in.  But many, if not most, fail to narrow it down and make it precise.  What is it?  It’s your monetary target – your desired income– for the year.  That’s right!  We’re going to start this year off with a concrete figure of how much money you would like to make.

Why You Need A Monetary Target

But before we get down to business and pick a number, it’s important to know WHY you need it.  After all, why not just create your booklets and/or other products and just sit back and see what happens?  Why not just let the money come rolling in?  Who cares how much it is, as long as you’ve got it in the bank?

It’s important because without a monetary target you’ve got nothing to shoot for.  You might make a few dollars, but you’ll never make what you could have if you had only had a fixed number in your mind to achieve.

Imagine going to a job interview.  The boss asks how much you made at your last job, and how much you need to make at this one should he hire you.  Would you reply, “Oh, it doesn’t matter.  Just throw me something every now and then.  Any amount will do.”  Of course you wouldn’t!  That’s not only laughable, it’s financial suicide!  And yet, if you don’t decide how much you would like to make this year from your booklet business, YOU’RE DOING THE SAME THING!

Also, having that number helps to keep you on track and focused.  It gives you a certain kind of clarity and lets you know how you’re doing so that six months down the road from now you can see how much you’ve made and determine whether you’re doing enough to reach the income level you desire.

Choose Your Desired Income Level

Now that you know why you need a target income for the year, let’s get down to business and pick a number.  You want to pick a number that is attainable for you.  It shouldn’t be too low, but it shouldn’t be in the mega millions either.  You need a number that makes sense for you to be able to achieve by the end of this year.

A good number to shoot for is either one that replaces your current income if you have a day job (so that you can quit your day job ), or one that doubles your current income if you’re not working for someone else  and you are working in your business full time.  Whatever this number is for you, it’s a good place to start.  Then, you can increase it each year, or even sooner if you reach your goal before the year is done.  Just make sure the number you pick is a realistic goal for you.

Ok, pick that number!

Next week we’ll break this number down so that you’ll know EXACTLY how much an hour of your time is worth.  Trust me, it’s not what you think!  You’re really going to be amazed when you see the true, monetary value of one hour of your time!

Until then,

To your riches!

Kim Hillman

PS:  Get my free e-course, “12 Ways A Booklet Can Turn Your Writing Into Cash!  Get it now!  Click here!

Also, follow me on FACEBOOK and TWITTER!

Happy New Year

Happy 2013!

I hope you had a wonderful holiday filled with the kind of moments that you will treasure for a lifetime.

As for me, I completed my move successfully and now I’m ready to move forward!

I’ve heard so many people say that 2012 was a bad year for them.  Was it that way for you?  For me it wasn’t the best, but it certainly wasn’t the worst.  I had major surgery and that definitely slowed me down for a while, but I don’t see that as a bad thing.  I needed the surgery, and I was glad I was able to get it done.

And of course there was the move.  Moving is stressful no matter how you look at it, but I love my new digs and my office is HUGE!  In fact, I’m not sure which was more stressful – moving or trying to figure out what to do with all that office space!

But, all that is behind me now and I’m moving on.  How about you?  Are you ready to do some serious writing this year and make some real money?  If you are, you’ve come to the right place!  I’ve got some big plans for this year and I’m going to hit it harder than ever before so stick around and let’s get it done!

Here’s to your riches in the new year!

Kim Hillman

PS:  Get my free e-course, “12 Ways A Booklet Can Turn Your Writing Into Cash!  Get it now!  Click here!

Also, follow me on FACEBOOK and TWITTER!