Tuesday 15 November 2016

What is YOUR time truly worth?

It all comes down to one simple question; "What is YOUR time truly worth?"
Considering that most people are trading their time for a paycheck, it really doesn't surprise me that most people cannot conceive the thought of making 6 or even 7 figures per year.

While I am not quite there yet myself, I believe; "Those who recognize what their time is truly worth will often seek the means to educate themselves to work less, whilst earning more in a shorter time period. (hint: By doing the work 1x and then creating recurring income streams from those efforts.)

The simple mathematics of calculating 10 years working 40 hours per week... at $50 per hour, 50 weeks per year... would net you $1,000,000.00 in 10 years time. Note: That's $1M before paying your taxes, deducting your commute to and from work, deducting your personal living expenses, and any other personal or work-related items you deem necessary to live your chosen lifestyle.

In short, you'd likely be a far cry from becoming a millionaire working the 40 hour work week, even if you made $50 per hour for a full 10 years of dedicated service. Most people make less than $15 per hour, so do the math! (*Unless of course, you made some wise investments in either yourself or an innovative start-up...or maybe started a marijuana dispensary, or modeled after Trump in the real estate game, etc...) 

But, if you were savvy and found the "logical means to sell" say; 1000 products at $2000 each in say a years time, and your costs was $1000 to generate each sale...you would net $1,000,000.00 in a year.

" I have but one lamp by which my feet are guided, and that is the lamp of experience" - March 23rd, 1775 - Patrick Henry's speech; "Give Me Liberty or Give Me Death!"
Someone on this very forum once advised me to determine "How much money I truly desired to make in the next 5 years?" and then "reverse engineer" the process, as if to be planning a flight . Clearly, if you want to get somewhere, you'll need to map out the course, prepare, and determine everything you'll need... before ever starting your trip, right?

Same applies in business. You have to know how much money you want? how you intend to manifest that money? and what product(s) and/or service(s) you intend to provide to attain and sustain that financial goal?

Perhaps, Napoleon Hill said it best; "If you can conceive it, and you can believe it, you can achieve it."

2 comments: