What's Your Time Worth?

Do you know what your hourly rate is?

Whether you work for yourself or as an employee - it's useful to know what your hourly rate is, so you can put a value on your time.

To find your hourly rate, divide your annual salary or annual income by the number of working days in a year (230) and then the number of hour you work or get paid for (8hrs).  You can give your time a value which is particularly useful when you realise how much time you're wasting.

Wasting just an hour a day - based on the average salary which works out at £15 per hour, adds up to over £3000 a year.

So how much is it costing you or your employer for each wasted hour?

The Trouble With Networking Is ...

... you never know who you might meet.

This has it's upside and downside. After all, we have a limited amount of time available and it would seem a waste of our time and effort to go to a networking event and not get anything from it.

While helping to organise the Speed Networking Event at yesterday's Brighton & Hove Business Show, one of the attendees wanted to know who the companies were that were registered so he could decide if it was worth him attending.

Now, this would seem like a very short-sighted approach to networking. You can't be that clinical and precise with networking. It's rare that you get direct business from one meeting.

• You don't know who they know. Someone you met at a meeting months ago may refer you to a friend or colleague of theirs which results in a considerable amount of business.

• The person you talk to may not be a potential customer. But - if you've made a positive impression they may know the perfect customer(s) for you.

• They may not be ready for you. Not everyone is ready to 'buy' your products or services when you first meet them. The important thing is to establish contact and build the relationship until they are.

However, if your potential clients are large manufacturing companies, you're unlikely to meet them at an event for small businesses (unless of course, their customers are small businesses). Likewise - if you work primarily with mums, they're unlikely to be at a breakfast networking event, when they're more likely to be getting the children off to school.

Keep an open mind - business and opportunities can come from the most unlikely sources and unexpected connections.

April Newsletter: How Much Time Do You Waste?

I doubt you could get through a day without being distracted or interrupted. There's so much information and mental stimulation coming at us from all directions.

In fact distractions and interruptions have a significant impact on our time and could be taking up nearly two hours in your day.

Think how that impacts what you're able to achieve, if you're losing TEN HOURS a week - that's a whole day and more)...

You can read the rest of the article in this month's newsletter, just register on my website or click here. Free tips, advice, information and news on how to improve your time management for your business and personal life direct to your inbox.

Waiting In A Queue?

It's a great British tradition - queueing but it's frustrating and takes up precious time in our already busy day.

Here are a few of queue busting ideas:

Plan your queueing time.  Monday mornings, lunchtime and Friday's are likely to be busy queueing days/times - so if you can plan your visits to avoid the busier periods.

Come back later - if you have other things to do, do those first and then come back later.  The queue may have gone down to a more reasonable level.

Things to do while waiting:

• Check your email - if you've got a Blackberry, iPhone or email capable device.
• Catch up on your social media - if you've got a browser enabled phone.
• Listen to a podcast - there are more and more podcasts available on a number of topics.  Download them to your phone or an MP3 device - catch up on them while you're waiting.
• Make a phone call - not always ideal, unless you're one of those "I'm on the train" people who is happy to share their conversation with everyone around them.
• Send a few text messages - keep in touch with family, friends and your business network.

If you haven't got the latest, always contactable, always online gadget:

• Always have some reading material with you - a book or a magazine.
• Carry a notebook with you - jot down ideas, action lists.  Capture those thoughts that pop into your head at random moments.
• Have a little fun people watching - can you guess who they are, what they do, how they're feeling.
• Enjoy the moment - don't get stressed out by how long it's taking - it won't help the queue go any quicker.

What are your ideas for avoid queues or tips to while away the time.