Thursday, August 4, 2011

Think in Terms of an Hourly Rate

How much is your time worth an hour? If you want to change your game, change your hourly rate.

The best way to change your game you put on an hour of your time is to change the value. Why? It helps you focus and do what you trade-offs. If you make $ 5 an hour, chances are the activities that you will make $ 50 an hour are very different. In fact, it's just a different skill set is a different mindset, and may have a different set of expectations. This job has a different set of experiences, and have a different lifestyle. If you want to make $ 50 an hour, you are talking less than $ 5 an hour, and $ 50 an hour, start doing more things.

What are your hours worth

If you are paying by the hour, then you already know how much you are selling your time. But it is not how much your time is worth. My first surprise was during my early consulting days, when I found out I was going out $ 100 bills in an hour. I remember that I was not being paid, but I was surprised that someone thought my time was worth $ 100. Then I found out others were earning more, but working at ... Yes, I thought to myself, "Am I doing something wrong."

A friend of mine I know how much your hourly rate to teach a quick move. He said, if you are on salary, simply cut and split in half by the thousands. For example, if you make $ 20,000 per year, then 20, split in half and take it, you're paying $ 10 per hour. If you make $ 40,000 per year, then 40 bucks and split it in half, you're paying $ 20 an hour. If you make $ 100,000 per year, to $ 100 and then divide it in half, you're paying $ 50 an hour. It is not an exact science, but it gives you a ballpark work.

Worth your time

I remember friends asking me, Bill Gates should take the money? ... Or money? Default response, or "course" Why not?, and it undermines spending their time on more valuable things.

How many symbolic money you take each day?

The process started asking questions

Just by asking questions, what activities are $ 50 an hour? What activities are $ 100 an hour? What activities are $ 10,000 an hour, you start to see patterns and opportunities. For example, some coaches like Tony Robbins is charged $ 10,000 an hour. You may ask yourself, how did he help solve the problems that were worth so much?

If you start looking around, and that the model you can find examples of people making more per hour. Career paths and possibilities you can look and see how much you make per hour can make a variety of jobs. More importantly, you can see the limits and boundaries. For example, the $ 10,000 for an hour waiting tables would be realistic to expect? If so, where then? If not, what are some other path, if you make an hour is an important benchmark for the $ 10,000.

It help you to adjust your own expectations as well as will take the better path.

A minimum, not maximum

After all, some people say, is we've got all the time. Just because you set your eyes on $ 100 per hour means you should limit yourself to $ 100 per hour. In fact, this simple to make $ 100 per hour by going to $ 10,000 per hour, can be found. Bruce Lee's words, "hit the target."

To do this, it means getting clarity on some things. What is the market value of XYZ? For example, how much people are paying today to XYZ?It's up to you to take what skills or experience needed to move a pile of getting clarity on the means. Beauty model are everywhere, once you start looking for them.

As a consultant or freelancer, you pay a premium for your services or time on the former can increase the test. You sharing your offerings to the market to offer a lower price, and other tests can be a premium offering. Yet, to the point it possible to explore is what might happen.

The difference makes the difference

$ 10 an hour or $ 100 or $ 10,000 an hour to an hour may not be the difference between what you expect. While it may be part of the skills and experience, you may actually be a big part of how perception can be built. At the end of the day, it has intrinsic value, but the "perceived value" is not that people will pay for. And perception is reality. That brand to such an extreme way to change the game. If two things are created equal best brand win.

If you keep simple brand and three, five or seven properties that you want to be about (quality, value, beauty, etc.) to think in terms of what you do so you can bake them. Another key is to make sure that they align with your own values ​​so that you can be authentic and can play to your natural strengths to create. It is a more sustainable way, and by aligning your values, your energy, passion, and eventually gain the advantage in terms of personal power.

Do not be surprised if you see through the lens that you see many people are working at, but start making more. Should be worth so much about all of your preconceptions, what the market is quite different than, or the notion that people can be made. Can not be blinded by your own beliefs, not how the market works and blind-sided. Especially the sudden just change your region or your container can boost your hourly rate should not be surprised. For example, a portion of your skills in the country could be worth $ 10, but maybe another $ 100. The reverse is also true. In fact, the Web makes it especially interesting because it is a world wide market. What you do for $ 100 an hour, can anyone in the world for $ 10. But remember, it's not just the intrinsic value, market value, perception, and brands.

That the key to your mind, change beliefs and assumptions, and expanding your skills and experience from the difference-making, Arenas test, and test the possibilities, and exploring models that are already out there, while some coming up with their own models.

Getting Started with your new hourly rate

A great place to start is to start where you already are. To do so, try this ...

Figure out your current hourly rate. If you already own hours, are paid by the good, you already know the number. If you are paid by salary, then cut off thousands, and it is divided into two. For example, $ 60,000 is $ 30 an hour.
Identify what you want for your hourly rate.
How can you pull away from options and explore possibilities. Find some examples and test the model. When you are stuck in your life mentors and help people see that you can not see what you think

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