Calculate how much your time is worth

Instructions

  1. Decide your base income target.
    Ask yourself how much you will take out of your business this year in salary, perks, and contributions to retirement plans.
    Example: $200,000.
  2. Divide it by the number of workday hours to get the hourly base number.
    220 workdays a year x 8 hours a day = 1,760 work hours in a year.
    Example: $200,000/1,760 = $113.64 an hour.
  3. Estimate your unproductive vs. productive hours ratio.
    If you don’t know it, you can use one-third as the rate.
  4. Multiply hourly base number with productive hours ratio.
    That’s what your time is worth per hour.
    Example: 113.64 * 3 = $340.92 an hour.
  5. Divide your worth per hour by 60.
    That’s what your time is worth per minute.
    Example: 340.92/60 = $5.68 a minute
  6. Write the number on cards where you can see it all the time until you internalize it.

Insights

No insights yet

Take action!

Our mobile app, Mentorist, will guide you on how to acquire this skill.
If you have the app installed
or

Our site saves small pieces of text information (cookies) on your device in order to deliver better content and for statistical purposes. You can disable the usage of cookies by changing the settings of your browser. By browsing our website without changing the browser settings you grant us permission to store that information on your device.