blog.asmartbear.com
The article discusses how startup founders should value their time, emphasizing that unlike consultants who have a clear hourly rate, founders should consider their time to be worth between $1000 and $2000 per hour. This valuation accounts for the high risks and potential rewards of a startup. The author, Jason Cohen, suggests hiring assistants, focusing on valuable projects, and stressing the importance of productivity as key strategies for founders.
Main Points
Value time at $1000-$2000/hour
Startup founders should value their time significantly higher than normal consultancy rates due to the unique risks and potential rewards associated with startups.
Practical implications of high time value
Using personal and virtual assistants, focusing on big wins, and increasing productivity are practical implications of valuing your time highly.
Insights
Valuing startup founder's time at $1000-$2000/hour
As a startup founder, the risk is high, hence the potential financial rewards must be commensurate with that risk, valuing the founder’s time at a significantly higher rate than a standard consultancy rate.
Risk of non-payment in unique consultancy terms
Consultants facing unique payment terms with a risk of non-payment should adjust their rates to account for the risk, suggesting an increased rate to $1000/hour based on a hypothetical scenario.
Links
- don’t have time for projects
- virtual assistant
- things that are even more valuable than money
- can’t afford to not work harder
- doubling your productivity
- continue this in the comments