What is Your Time Worth?

One of the difficulties of handing over work to a virtual assistant (or a real one, for that matter) is deciding which things you’re better off paying other people to do. Erica Douglass suggests in an excellent blog entry that you should set a baseline rate of half your hourly billing rate, and outsource everything you can get for less than that. The idea is that even when you count the fact that not all hours are billable, you’re better off making more money than spending time on tasks that are so inexpensive to hand off.

It’s a simple idea, and yet very few web workers (or others) take advantage of this sort of thinking. Erica goes through some common objections on her blog, but I’ll add one more factor to take into account: outsourcing only makes sense if you’re in a market where you can easily fill your own hours with more client work. But if you are finding demand for your services high enough that you’re turning away work: why aren’t you outsourcing more chores?