Tuesday with Michael: What Is Your Time Worth?

Studies show that CEO’s are lucky if they put in 4 productive hours a day. 

While our intentions are honorable the only solution is purposeful and deliberate action taken on your high payoff activities every day.

WHAT is your time worth annually, hourly?

Too many people spend high value time on a low value minimum wage task and under value their own self-worth. Time is infinite; however, your time is not infinite- it’s extremely limited.

Unless you know what your time is worth and how to evaluate the time cost of what you do, it is almost impossible to make a correct decision or to evaluate properly what action to take in any given situation. The way you view time will affect the rest of your life.

The chart below shows what your time is worth by the hour, based on 244 eight-hour working days per year (assuming a five-day week less vacation and holidays).

Annual EarningsEvery Hour is Worth
$ 30,000       
$ 50,000       
$ 75,000     
$ 100,000     
$ 200,000
$ 500,000
$      15.00
$      26.00
$      38.00
$      51.00
$    102.00
$    256.00

Now the question is “Why don’t we spend more time on our High Payoff Activities? (HPA’s)? 

If we can increase our productivity dramatically by spending time on H.P.A.’s what prevents us from doing the right things?

The following exercise has helped me and my clients really stay focused on earning their highest possible revenue per hour by staying focused on their HPA’s by the hour.

What are your current Low Payoff Activities?  These are the repetitive, mundane, time wasters and interruptions that get in the way of you spending time on your HPA’s

What are the 5 most critical challenges you face in your work that prevent you from spending time on your H.P.A.s? 

Rank these and set a goal to solve them or get rid of them.  Start a Journal of Time Wasters. List your time wasters as they attack you and distract you from what really matters most. Then, plan to take action to control and eliminate the Time Wasters that come at you in your life.



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