I just finished hoovering the living room. Why I did it is a complicated story involving teens being on holidays and refusing to do chores. If you have teens you would understand and if you don’t its like trying to explain advanced astrophysics.
I did it during work hours. Heaven forbid!
There are companies and people in my town who will clean your house from top to bottom in about 3 hours for about 90e uro,. I used one of them once when my wife was on vacation. They do a great job. They did it while I was out and the house looked spotless and I was happy (as my wife was on her return).
For the mathematicians amongst you the above task is about 30 euro per hour. But hold on buddy. Two of them do the job. I know as I arrived as they were leaving moving on briskly to their next job.
So digging into the math book chapter 15 under long division that is more or less 15 euro per hour. Good luck to them and their business is still going strong.
Now while I was thinking about this as I pushed the vacuum cleaner around the house (along with how to dispose of a 15 year old boy’s body without the cops finding me) it brought me to one of my pet topics. I will probably bore the shit out of you in a corner about this with a beer bottle in my hand if we ever meet.
Its how valuable is your time. Now I am not talking about your hourly rate. No I don’t ever mention an hourly rate. Its about value.
When I worked for Motorola in the early 1990s on our Solaris system we had network Tetris for a period of time before Sys Admin shut it down (bastards). While it was there I spent a certain amount of time playing it when I should have been working (OK often an hour or more it was years ago, I was young). If you saw the leaderboard I was not alone.
Possibly Sys Admin were right to get rid of it (bastards).
I wouldn’t dream of playing Tetris now as I work for Me.Inc. But I did hoover.
So what is the value of my (your) time? When I was with the big M we got paid even if we did play Tetris. I also wrote thousands of lines of Z8000 assembly language I’ll have you know.
If you work and pay yourself it should be on your mind.
What IS the value of your time?
I don’t know! It involves more of the maths above and everyone is different. But fee based work should not be your be all and end all.
I think as a Freelancer/Worker From Home Drone/Entrepreneur (retch) we should all think about how to get away from fee based work eventually. Don’t get me wrong 90% of what I do is fee based.
Build X for Y. Start middle end. Fix Y. Start middle end. Get paid (slowly usually).
I really don’t want to be doing this when I am 60. I don’t even relish the thought of doing it when I am 50 in 3 years time.
So monthly recurring revenue (MRR) is where I should be going.
Now as I have said in this blog and many other times I don’t want to be rich (welllll) I just want to be able to do what I love which is communicating how the Internet can rock your business world through websites and Internet marketing. I do want to make enough money to pay the bills and retire to Malaga, sip coffees, read El Pais (with a dictionary), drive to the beach and paddle (I can’t really swim too well).
OK sorry I slipped into dream mode there.
But this won’t happen in build mode.
Build mode has start, middle, end. You can make big money in build mode (I have done so – my sons play piano on a deposit I got for a project last year-in build mode and pianos aren’t cheap). But in build mode there is an end and my guess is your pipeline (no not your hopeline) is at its max 3-4 months out with a mix of OK, good and great paying projects.
Insert that Great Package and Sell It Baby
This is where traditionally you see the buy now button. Well to be honest I haven’t fleshed out anything solid yet. I have about 4-5 little projects in the burner that I am working on that the combination of might start to become monthly recurring revenue or MRR.
I allocate about an hour per day to MRR planning / projects and so should you. It might be an email course. It might be a simple support package. It may be a website that sells images, dog collars, a book on how to do 500 press ups ( god forbid!)
So get out of build mode or at least plan to, its better than vacuuming! Love to hear your Non Build Mode project. Email me.