Wednesday, May 24th, 2017

How Much Is Your Time Worth?

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Get Anything Done For $5.00

Question for you?  How much is your time really worth?  Let’s get more specific, how much is an hour of your time worth.  If you are like me, then you are probably trying to deduce this by taking your monthly salary and dividing it by 160+ hours or something.  If you do the math you’ll probably see that your time is worth quite a lot more than what you may actually give it credit for.   For instance, say you work a salaried job and make say 72k a year.  That means your monthly salary is that of 6k a month.  Take 6k a month and divide it by 160 hours of work (total average hours worked in a month) and you get …..$37.50 an hour.

I know this is a pretty simple equation right.  But this is something that we forget to keep in mind when we are dealing with activities in our online business and/or personal business.  I remember reading the book Millionaire Fastlane where the author talked about the 5.00 bucket of chicken situation.  Basically how this one restaurant was giving away a bucket of chicken worth $5.00 and how people stood in line for hours waiting to get the “free” chicken.  The same thing could be said for people waiting in line for those “Black Friday” sales.  Sleeping outside a store for hours just to get a “chance” to buy that latest gadget for a couple of dollars off the sale price.   Think about the amount of money (time) they are wasting.  For the time they spent waiting in line, they could have purchased whatever they were waiting in line for.  But since we tend not to look at our time (our personal time) as a function of money, we tend to be more liberal with it.

So why am I harping on time and money in this blog post?  Well, I had a situation a few mins ago that caused me to rethink how I was spending my time doing various tasks in my business.  There were a set of tasks that I was working to complete related to Android app promotions within the Google Play store that was taking quite a bit of time to complete.  I thought to myself that there has to be a quicker what to accomplish this task.  I thought about outsourcing it to my virtual assistant in the Philipines, however, he’s been actively working on a new Android app for me that I did not want to utilize his time to do this menial task.   I remembered a close friend of mine telling me that he utilizes Fiverr to get various tasks in his business done.   On Fiverr.com you can post any job and people can choose to complete the task for $5.00, thus the name of the site Fiverr.com

Since these tasks that I wanted done were not time sensitive to the business, I opted to farm 4 of these tasks out to members of the Fiverr.com community.  So far so good, for the total cost of $20.00, I was able to save myself at least 3 hours of work that I can now utilize on other tasks in the business and also take time to play pirates with my daughter 🙂

So if you are looking for someone to complete a set of simple tasks for you, I would highly recommend utilizing Fiverr.com.  You’ll be amazed at what you can get done for $5.00.   Go check them out

Comments

One Response to “How Much Is Your Time Worth?”
  1. Dan G. says:

    Interesting. I’ve looked at the site in the past, but never outsourced anything on it.

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