There’s no mystery in finding your net worth at this very moment.
Just look at your balance sheet.
However, is that really an accurate look at your lot in life? Let’s find out.
The Dot Com lifestyle is predicated on you placing a value on your time, which is light years better than trading your time doing a job where someone else determines what its worth for you to do it.
In the latter, odds are you’re being shortchanged. In the former, you’ve got better options. Much better.
As an e-commerce entrepreneur, it’s important that you allocate your time wisely. You want to make the most of your working day-part so it doesn’t cut into your personal endeavors.
This gives rise to a pair of key considerations:
- You want to achieve your peak earning potential during your working day-part, and
- You want to outsource and/or automate tasks that prevent you from doing so.
To do this, you first need to calculate your day rate:
It’s obvious to see where thorough planning enters into the equation.
This formula is exceptionally relevant to entrepreneurs providing goods and/or services to offline clients. For example, if you’ve contracted to provide local small businesses with a simple online presence where you update the content, you’ll want to find a program that automates much of that obligation.
In so doing, you’ll have more time to support existing clients — who will maintain their subscriptions — and attract new ones.
If your online operation features digital, affiliate, and/or dropshipped goods and services, then setting your day rate as a frame of reference will be a function of what you’re promoting and the time you’ll need to make it a viable operation.
If your goal is to become a full-time entrepreneur, then you’ll want to set your day rate to an amount that is commensurate with the transition, ie- you’ll want to match your current salary.
In this instance, it’s strongly recommended you identify a high-ticket program that comes complete with automation and outsourcing components.
Really, it’s the most efficient — and most likely the fastest — way to not only achieve your day rate, but to ensure you’ll be able to raise it on at least an annual basis.