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BUSINESS SKILLS TIPS 20 – WORK LIFE BALANCE TIPS PART 2
How much are you worth? Are the extra hours that you pack into your business worth your cost in terms of results, in terms of your bottom line profits? Have you worked that out yet, i.e. how much your time is really worth at the end of the day when you are tired, stressed, against the clock? Your break even point is what you should focus on instead of trying to get more done. So work life balance tips part 2 is all about your efficiency and your cost to your business.
It is so easy to make mistakes when you are stressed and tired, so is it really worth taking the chance and risking having to do the whole thing again the next day when you have even less time to spare? I suggested doing a time and motion study, yeh, right, and if you do this you will get a much better idea about how long things take to do well. Better to not attempt a task than to do it badly.
Today, I am suggesting that you might actually work out how much your time costs your company in terms of your profits. Look at the money management, your financial accounting. Dividing hours worked per week into profits made per week is a very simple task, and we know that nothing is ever quite that simple. How many staff, outsourcers and others have an input into your profits generated each week, and what per cent do they contribute towards that profit? It could be a tricky calculation.
How much salary do you draw each year, each week? Perhaps your hourly rate would make more sense when thinking about the results at the end of each extra hour you have worked.
What are the costs then, in terms of extra output, extra items sold, keeping the store, office or room open, equipment running, lights blazing? Just a few thoughts today to make you ponder on efficiency and costs versus extra output.
Work life balance and work life balance tips are all about the journey and whether it remains enjoyable for all involved. When it just becomes a hassle then maybe other viewpoints may need to be considered. Quality of life, for example, or happiness at work and happiness at home. As time goes by, no amount of extra goodies and rewards can make up for lost time, time spent together in meaningful relaxation or play is worth more than money in the bank.
See the life balance wheel and think about your whole life today. Link below.