Have You Ever Figured Out Your "Per-Minute" Wage?
I recently read a short article that broke down how much an agent earns by working 40 hours a week for 50 weeks a year.
Annual Net Income $50,000 = $25/hr = $0.42/min.
Annual Net Income $100,000 = $50/hr = $0.84/min.
Annual Net Income $200,000 = $100/hr = $1.67/min.
We've all seen it, BUT they took it a step further and broke it down to "Per-Minute". That additional step REALLY opened my eyes.
Earning $100/hr, look at the cost of time that we incur daily:
watching a 30 minute TV show = $50.00
20 minutes reading the newspaper = $33.40
waiting 15 minutes for a return phone call - $25.05
90 minutes roundtrip to showing with no-show = $150.30
Plug in your numbers and see what your time is costing you when you are doing incidental, non-income generating activities.
When you're working and your 'wage clock' is on, do as many dollar-productive activities as possible. When you're off and playing, have fun.
If you know of any other time-wasters that you usually do and figure out the "Per-Minute" cost, I'd love to hear them. But since that'll be wasting your time, I'll understand if you don't. :)
Have a profitable week!
I recently read a short article that broke down how much an agent earns by working 40 hours a week for 50 weeks a year.
Annual Net Income $50,000 = $25/hr = $0.42/min.
Annual Net Income $100,000 = $50/hr = $0.84/min.
Annual Net Income $200,000 = $100/hr = $1.67/min.
We've all seen it, BUT they took it a step further and broke it down to "Per-Minute". That additional step REALLY opened my eyes.
Earning $100/hr, look at the cost of time that we incur daily:
watching a 30 minute TV show = $50.00
20 minutes reading the newspaper = $33.40
waiting 15 minutes for a return phone call - $25.05
90 minutes roundtrip to showing with no-show = $150.30
Plug in your numbers and see what your time is costing you when you are doing incidental, non-income generating activities.
When you're working and your 'wage clock' is on, do as many dollar-productive activities as possible. When you're off and playing, have fun.
If you know of any other time-wasters that you usually do and figure out the "Per-Minute" cost, I'd love to hear them. But since that'll be wasting your time, I'll understand if you don't. :)
Have a profitable week!
Dan Weis, CRS, GRI, e-Pro
Real Estate Agent Success Coach
Learn how to earn $100,000+ selling real estate.
Subscribe to FREE, weekly e-zine: AgentSuccessTips
No comments:
Post a Comment