Monday, September 23, 2013

How Much Are You Worth?


Whenever I speak to individuals seeking to go full-time as a writer, I ask them one specific question: "How much is your time worth?" This is an important question because it sets the standard of what you do every day. However, most people don't know what their time is worth and therefore can't decide how much money they can logically make. Projecting your income also keeps you on track concerning your sales goals and managing your commitment of time and energy.
Assuming you want to make $5,000 within the first 3 months, you can set your sales goals. If you're selling your book for $15, you'll need to sell 334 books in three months, which equates to 111 books per month, 28 books per week, 4 books per day.
Also take into consideration what your time is worth. If you want to make $50,000 per year from your book endeavor, then your time is worth $23.58 per hour (based on an 8 hour work day/ 5 day work week). Thus, your every endeavor should render you a minimum of $23.58 per hour. If you host a book signing, your net should profit you a minimum of $23.58 per hour. You should make a minimum of $47.16 for a 2 hour signing.  If you're asked how much you would charge to speak to a group for 2 hours, base it on a bare minimum of $23.58.
There it is in a nutshell. The math is easy.
Need advice on how to make those 4 sales per day, or any other advice? Feel free to write me @
Happy selling!

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