Divide your salary by 1,000. While recommending business books on a blog post last week I said a business book pays for itself in less than an hour. A reader asked me how I measured that. If you want quick and dirty, then divide the annual salary by 1,000 and that’s the hourly cost to the company. That’s your time-is-money rate. It’s valid for you, for your team members, for your company.
When I say it’s valid, I mean as a guideline for understanding costs and making decisions. It’s just a rough estimate. And I think it’s probably a useful exercise, so here it is, as you would work it out in your favorite spreadsheet:
To read the full, original article click on this link: Do You Know Your Time-is-Money Rate? | Small Business Trends
Author: Tim Berry
