Know the Value of your time so you don’t waste it!
As a sales professional, how much is your time worth per hour?
If you can’t answer this, you are likely wasting A LOT of your time.
Because how can you value your time if you don’t even know what it’s worth?
Wasting time is the #1 reason why most sales professionals aren’t performing to their full potential and feel guilty about their overall effort.
To help you calculate the value of your time, I’ve created a simple formula I call the “Time Value Equation” which you can use to calculate the value of your time:
Hourly rate = Annual Income/Time spent on RGA’s per week x 48
The reason we use time spent on RGA’s per week (rather than time spent working per week), is because this is the specific time in which you are generating income.
Many salespeople spend their day on busy or admin work (that actually does nothing for their business), or give into distractions throughout the day rather than spending the majority of their day on RGA’s.
By knowing the exact value of your time, you are much less likely to waste it.
For example, if your hourly rate comes out to $278/hour (example used for a sales rep making 200K/year working 15 hours/week on RGA’s), and you spend 3 hours/day on internal meetings, low value activities, admin work, or distractions, you just are losing $833/day, $2,500/week, or $10,000/month.
Thinking of your time this way will change how and where you choose to spend it.
Because time is our most valuable asset in life, and we can’t get it back.
In today’s video, I show you exactly how to use the Time Value Equation to calculate your hourly rate.
I also share what sales activities you should say YES to, and what you should say NO to.
P.S. – If you struggle with wasting time, I can help! Book a free coaching strategy call to learn more about my Sales Coaching program.
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What’s the #1 key to negotiating which very few people talk about? Knowing your worth and believing it!…