Track Your Day to Financial Success
If you’re like most people you probably go about your day-to-day business never really thinking about the moment-to-moment activities that consume your day. I’d like to walk you through an exercise that will help you earn the highest possible revenue per hour.
Let’s assume that we each start with 365 days in a year. If we take away the following:
- Weekends 104 days
- Two weeks of vacation
- Personal religious holidays – (Three is the average)
That leaves each one of us with approximately 238 days in order to earn the income we desire. If you multiply these 238 days times an average of 10 working hours per day, you are dealing with 2,380 hours of real work time for the year. So let’s do some math. If your yearly income goals are as follows:
- $25k = you must be earning an average of $10.50 every hour of work.
- $50K = $21 per hour
- $100k = $42 per hour
- $250k = $105 per hour
- $1 M = $420 per hour
- $5 M = $2100 per hour
- $10 M = $4200 per hour
In order to earn the income per year that you really want, you absolutely must be doing activities every hour that line up with this chart. If you are doing anything that isn’t your absolute highest producing income activity all the time, you are making it much harder to achieve your desired financial goals. Answer these four questions:
- What activity or activities generate your highest producing income?
- What are you spending your time doing?
- Are you focused on the real money makers or the real time wasters?
- Are you making it easy for yourself to be a high-income earner or are you doing the things that can be done by someone whose income goal or ability is less than yours? (Delegate or outsource projects and tasks that aren’t the highest income producing use of your time.)
When you start to look at each hour this way, you’ll stop doing the small stuff and you’ll start doing the real high producing stuff that yields results. You will build your business success and your wealth.