Business Owner- What are You Worth?
- Monday, 14 January 2013
Guess Article By: Ray Pons, Performance Improvement Coach, Keynote Speaker, and Author
Many times you might ask “What is my business worth?” But have you ever asked yourself: “What am I worth?”
Think about it. What is your bottom line value? What are your skills, talents and abilities truly worth to the business?
I suggest that your personal worth to your enterprise is much higher than you might imagine.
Consider for a moment: How do you assess the value of Vision? What price Leadership? What worth can be given to grit, determination, resilience and commitment? What is the legitimate dollar value of risk, daring and courage? How do you set a price on character, honesty, truth, integrity and all of the unique qualities that set you apart?
You are more valuable than you think.
Most business owners undervalue their true worth to their enterprise and practice unintentional embezzlement. Time to quit stealing from yourself! What do I mean by that?
It is my belief that a strategic business owner has a minimum value of $200 an hour. Minimum! Often it is higher, much higher.
Therefore, if you are doing work that could be done by someone else for $15 an hour then you are essentially stealing $185 from your business. You are robbing yourself; embezzlement of your own business.
Value yourself and your time highly. Take the time to strategically reflect upon your highest bottom line worth and then plan your activities with that figure as your determining factor.
With a high-value assessment you will more easily avoid low-value, trivial many activities (busy-ness) and instead focus on high-value, high-leverage activities (effective-ness).
Do not merely know the 80/20 rule - live the 80/20 rule. Involve yourself at least 80% of the time only on tasks that reflect your very highest value. For everything else delegate, assign, outsource, downshift or even eliminate.
When you value yourself highly that alone can dramatically transform the value of your business. Build your business value by first placing a high value on yourself.