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Entrepreneurs and Small Business Owners Are You Worth At Least $100 an Hour

Entrepreneurs and Small Business Owners Are You Worth At Least $100 an Hour
Free Download - Increase Sales by Remembering Your Footprints in the Sands of Business By Leanne Hoagland-Smith
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Many small business owners are former executives or technicians who earned considerable money through employment. Their former salaries ranged from $50,000 to $250,000 plus not including benefits. Yet, when starting a small business, suddenly their own value appears to dramatically diminished.

Due to a belief that cash flow is limited when first beginning, these entrepreneurs wear many hats such as: accounting, administrative, human resources, marketing, sales, visionary and general "go-fer." These hats are worn again because money is tight coupled with that entrepreneurial belief that "No one knows my business better than me" or that "I can do it better and usually cheaper than anyone else."

Either of these beliefs contribute to a third mostly subconscious belief that my time has no value. This is probably the most detrimental belief that any business owner can embrace. Why, please let me explain.

A Typical Scenario
The small business owner decides to file his own taxes because he can save $500 to $2,000 by not hiring an accountant. Since he has 6 employees including himself, he also takes care of all personnel issues. With an emphasis on sales, he believes that he can save another $5,000 a year by designing and developing all his marketing pieces. His website is professionally designed, but he has the ability to make daily updates. He does allocate $5,000 for memberships in several organizations including a chamber of commerce, a professional association and a formal networking group. He also makes all the runs to the bank and post office. And to wear all these hats, he works long hours. At the end of the year, he looks at his bottom line and he made his previous salary and then some. Now, he feels anywhere from OK to really great.

So what’s wrong with this picture. Simply speaking, this small business owner is working harder not smarter. If he focused on his strengths that being developing a customer base, working sales leads and building productivity or profits, would he not have the money to pay for many of those other hats that he has been wearing?

The challenge is the belief that the small business owner’s time has no value. By applying a $100 an hour rate to every activity, he can then do the math and see an entirely different picture. That $100 an hour is what his expertise, intellectual capitol or sweat equity is worth and in all honesty it is probably closer to $200 per hour. Until this small business owner believes that he is worth at least $100 per hour, he will probably continue to work on his business instead of working in his business. The end result is that he is losing tens of thousands of dollars while trying to save a few thousand dollars.

So the question is: Are you worth at least $100 per hour?





Entrepreneurs and Small Business Owners Are You Worth At Least $100 an Hour - To learn more about this author, visit Leanne Hoagland-Smith's Website.

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Michiel Jonker
As a Certified Information Systems Auditor, Michiel assists businesses in a professional capacity by evaluating the threats to their businesses. He acquired the necessary knowledge, skills, and techniques to minimize a business owner’s risk of business failure and to maximize his chances of high growth and success. He strongly believes that you CAN maximize your chances of business success, by implementing the business solution he has advocated for more than 12 years in your business plan and planning. Michiel has decided to share his experience with business owners by putting almost everything he knows in a business plan and survival guide (compiled in an e-book format) and written as a high growth SMB coaching course for SMB business owners, directors and managers - titled as the “Survival Kit for Small and Medium Businesses - Profit from your Business Risks!” According to Michiel, his goal was to add new techniques to a business owner’s business planning survival kit and instruct him or her in using these in the future - without any help from a consultant! For more information about the benefits of implementing profit protection planning in your business, please visit: http://www.business-around-the-globe.com - Visit Michiel Jonker's Website

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Leanne Hoagland-Smith
(Visit Leanne's Website)
Are your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601.


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