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The only way to keep up with the latest about pricing the value of your time is to always stay on the lookout for new information. If you read everything you find about pricing the value of your time, it won’t take long for you to become an influential authority.

So, What is  the value of your time? 

Ask any part-time employee and they will tell you: $9.50 an hour, (or whatever their wage is). Hourly workers know the value of their time. Successful salespeople who work on commission know the value of their time as well. And Some salaried workers, particularly the successful ones, also know the value of their time.

But what about you? It’s a different story for the online business owner! You probably work more than eight hours during the day, (or night). And then you most likely think about your business even when you are not sitting at your computer working. And, if it’s a passion of yours, (and many online entrepreneurs turn their hobbies and passions into a business), then you’ve got an even greater challenge in figuring out the value of your time.

Maybe you don’t know the value of your time. Many people don’t, so you are not alone. But it’s a calculation that will help you manage your time, so it’s worth the five minutes that you will spend trying to figure it out.

The best thing to do is just do a basic calculation.This calculation income divided into total hours worked. No, it’s not a perfect calculation because it doesn’t account for the hours that you spend thinking and it doesn’t account for your expenses…but you are also busy enough that a rule-of-thumb idea from a quick calculation is just as effective and takes less time. 

So far, we’ve uncovered some interesting facts about pricing the value of your time. Stay with us, the following information is even more interesting.

It’s probably a good idea to make this calculation for a week’s worth of time or even a month’s worth of time. That way, you will help to smooth out the fluctuations that occur in your schedule and in your customer’s buying patterns. This calculation might require you to actually monitor your time for a week. It’s a good exercise to do anyway, regardless of whether or not you end up trying to discover the value of your time.

For most entrepreneurs who are just starting out, the value of their time is just a few dollars at best. Don’t feel badly if that is the case with you.

Once you have that number, you have a baseline. Now what?

Now you have something to work for. Now you have a goal to shoot for. Currently earning 25 cents an hour? (Don’t laugh. Many entrepreneurs earn that when they just start out. It will get better!) If you are earning that much, make it a goal to earn 50 cents an hour, then a dollar, then five dollars. Keep track of your current “hourly worth” in your business planner and use it to constantly remind yourself to build it up over time. That is the American Dream! And you are living it!

Amid all the noise and hype on the Internet today, not many people realize that all the ideas and techniques you can find are petty much useless if you dont first understand your business model. In other words, even the most amazing Internet marketing technique will not work if you dont understand how to apply it to YOUR business.

The 3 most popular business models are:

1) Affiliate Marketing

This is perhaps the most popular one out there, since there are absolutely no barriers to entry. Almost anyone can sign-up for an affiliate program for free and start promoting the product or service on the Internet with hopes that someone will buy, giving them instant commissions. Affiliate marketers dont carry any risk, since they do not pay for the creation of the product, they do not handle customer service and they do not need any up-front investments.

When you consider that those are the top three things people want to avoid, its no surprise that almost everyone and their neighbor promotes an affiliate program or another. In fact, if there is a single reason why the Internet today is so proliferated with ads and banners, its because of affiliate programs.

Even though there are so many affiliate marketers out there, only 5% ever make any money and only 1% makes big money. The “Super Affiliates” do it very differently from all the other millions; therefore they earn the big checks.

You can get a good idea of how to be a good affiliate marketer here: http://affiliatemarketing.sitesell.com/globalmillionaire.html

2) E-book and Information Publishing

Sitting at the other end of the spectrum, e-book authors need to be more disciplined in their approach to Internet marketing. Of course, they also need to invest more than affiliates do. While affiliates can get away trying to “get something for nothing” the same is not true for the e-book type of business.

If youre thinking about publishing and selling your own e-book online, and you think its going to be easy, think again. Youll need to learn a lot more than affiliates are required to. Youll need to spend some amount of money getting your business up and running. However, when you do it right, the payoff in this online business model is much more rewarding.

The reason why e-book marketers and “Infopreneurs” make more money is simple; they have very, very low production and maintenance costs. Anything digital doesnt cost a single cent to be produced in millions if necessary. Whatever initial start-up costs spent can be covered by selling just a few copies of high-margin e-books, and you can even recruit an army of affiliates who are more than willing to do all the selling for you.

Of course, its not as easy as it sounds, but the point is, when done properly, the “E-book Publishing” model is a truly profitable business.

You can learn more about e-book publishing at http://egoods.sitesell.com/globalmillionaire.html

3) Internet Based Network Marketing

Ive heard many people say that the Internet and network marketing are a match made in heaven. In my opinion, though, almost 90% of people get it wrong when it comes to Internet based network marketing. People in this business usually think theyre talking about network marketing, but in reality they are talking about affiliate marketing.

They try to make the Internet do all the work. They hide behind their computers and pretend everythings going great. They focus on selling more and more every month. They have systems that are so complicated only they can understand it. Well, that doesnt sound like network marketing to me!

Internet based network marketing is simple if you understand it, and are willing to put in the effort. The role of the Internet here is only to get you the names and contact details of people you can talk to, after which YOU, not a computer, has to build a relationship with these people and help them to start their own business.

For this simple purpose, it is not necessary for you to have a high-tech system and pretend that your auto responder is building relationships for you. Its not going to work. The key is to have simple systems that are duplicable, something you can teach to all those people you have built a relationship with. For this purpose I use NetMarkPro at http://www.netmarkpro.net/globalmillionaire and teach my own affiliates to use it too.

E-book authors, no matter what they say, have no obligation to teach you their “Secret Strategies to Become a Millionaire” of any variations to that. The reason is simple; why tell you the absolute truth when youll end up as their competitor? No one wants more competitors, right?

Internet based network marketing is very much the opposite of that. You HAVE to tell people EVERYTHING you know or your business will never take off. For this reason alone, I always recommend that if youre new to the online world, you need to first join an Internet based network marketing business at least to learn. Rest assured, no one will be selling you half-baked truths when their success ultimately depends on yours.

These are the Top 3 most popular online business models today. There are more, of course, and you can read about it at http://case-studies.sitesell.com/globalmillionaire.html

No matter which model you choose, make sure you understand the basics, and stop listening to and buying things that are not applicable to your business. Information overload can stop you before you even get started.
Gobala Krishnan is an author and Internet based network marketer. Get his free report at http://www.myinternetdream.com/ today and find out how you can achieve financial freedom on the Internet.