As the SLW conversion and WSE server update delay have received much attention lately, I would like to sway from the tension and focus on more RL matters. In my leisure time, I enjoy reading investment and business books. In the future, I will not make this front page and will only update these in iVentures Volitant’s Blog. Here are a few to mention:

- The end product of the shorter deadline is almost inevitably of equal or higher quality due to greater focus.

- There are two synergistic approaches for increasing productivity that are inversions of each other:

a) Limit tasks to the important to shorten work time (80/20 rule)

b) Shorten work time to limit tasks to the important (Parkinson’s Law)

Best solution is to use both together. Identify the few critical tasks that contribute most to income and schedule them with very short and clear deadlines.

- Liberty means responsibility. That is why most men dread it.  – George Bernard Shaw

- Entrepreneurs are those who make things happen.

- Don’t underestimate how much your company needs you. Perform well and ask for what you want. If you don’t get it over time, leave. It’s too big a world to spend most of line in a cubicle.

Calculating per hourly rate based on Salary

For those who would like to know how much you are making per hour based on your current or expected annual salary, I have provide you with an example for simplicity:

Assumptions:

Expected Annual Salary: $50,000

Hours Worked: 40 hours/day

Time Off (Vacation): 2 weeks

Total Work Weeks: 52 weeks

Expected Annual Salary / Hours Worked x [Total Work Weeks – Vacation Weeks] =

50 / (40 x [52 - 2]) = $25/hr

Over time, I will share certain quotes or excerpts that I find interesting. Feedback is much appreciated.

iVentures Group

www.sliventures.com

Comments

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Xavier Mohr   | 2008-02-26 18:27:50 Very informative post, iVentures. The only thing I point out... not in dissension, but as a possible hiccup to the hourly pay rate formula... is that many salary employees (not all, of course) in various industries are paid in such a manner because of varying schedules and responsibilities. Some also receive unbalanced compensation for out-of-pocket expenses. For someone that travels significantly, works random unpaid overtime, or makes frequent out-of-office sales calls, it might be better to average hours worked using several weeks -- or even several months -- to get a more accurate hourly pay rate. Non-reimbursed business expenses (such as fuel costs not covered due to gap between mileage reimbursement amount and actual fuel price) might also need to be factored in depending on how accurate you want to go. Another important consideration is whether your vacation time is paid or unpaid. If it is PAID time off, I would think you would want to exclude that subtraction. Correct me if I am wrong or overthinking, LOL. Those are just fleeting thoughts after reading the post. It is an excellent formula for the 9-to-5 managers out there, though. Also seems like it would be extremely useful for former hourly employees applying to their first salary jobs, wanting guesstimated hourly equivalents of their new positions to compare to previous jobs. I love the quotes, though... particularly the one by Shaw, which is SO applicable to a vast number of fields (Thinking - POLITICS). Great work! Quote 1   0

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