“My Time Isn’t Worth Anything.” Is Yours? Why Valuing The Time You Spend on Your Creative Business Is Essential

“My Time Isn’t Worth Anything.” Is Yours? Why Valuing The Time You Spend on Your Creative Business Is Essential

 

Today I want to talk to you about time and how we value it.

 

The other day, me and a friend of mine were discussing getting some repairs done on his car, and whether he could do it himself.

When we talked, I said “It really depends on whether you feel you have the time to do it and learn how to do it.”

He said, “Well, my time isn’t worth anything.”

The conversation continued but a part of me retreated into my mind in shock.

 

I run my whole creative business based on specific hourly and daily rates that I’ve calculated based on my experience and the market as a whole. I have to value my time as ‘worth something’ to run my business.

That translates into valuing my time as an individual in my leisure hours, and wanting to spend it in fruitful ways.

The conversation started me thinking. We know time equals money, but do we really believe it – particularly when we’re talking about our own time? And when we think about time equalling money in our business, what does that actually mean?

 


Time and money

First, I should mention that, for me, time does not equal money. Time is far more precious.

During your lifetime, you can attempt to accumulate as much wealth as you possibly can. Given the right resources and privileges, there will be no limit to the wealth you can accumulate.

But you cannot accumulate more time.

 

You can be healthier to try and live longer. You can stay awake for more hours. You can multi-task or mono-task or batch your tasks and a thousand other things to maximise your time.

But, ultimately, you have a given amount of time on the planet, and that’s all you’re going to get.

 

Many yoga practices talk about the concept of limited breath; that we only get a set number of breaths in our life, and therefore it’s important to use them wisely through deep and restorative breathing.

These ideas of a limited amount of time and breath were one of the driving forces behind starting my own creative business.

It wasn’t so I could make more money. Although I am paid more on an hourly rate than I did when I was on a salary, my annual ‘salary’ now is slightly less than it would be if I was working in a full time job at the same level.

 

For some people, that’s a bit shocking. They see running your own business as a way to make lots of money.

For me, it’s a way to try and make lots of time. Or more accurately, to consciously absorb the limited time I do have. To ‘make’ it feel more by being more conscious of it.

Getting back time for the things that were important for me was the main reason I began my creative business, and I’m in a position of privilege to be able to do that.

 


Money and things

Second, I see obtaining money as about what you can do with it, not as a symbol of success (even when it’s not being used). Money ‘works’ because it’s a universal commodity; something which can be exchanged for any other product or service we want. When it’s not being used in that way – what is it? What’s it for?

 

One of the exercises I do with my students when I talk to them about employment is to talk about two ways of approaching salary. The first is having a specific number in your head, and wanting to have that number go into your bank account each year. The second is working out how much you need to live the life you want, and aiming for that.

I tell them most people start their working life by having a specific number in their head. They haven’t thought carefully about the life they want and how much this costs. They just want that number.

 

This is what a lot of the business coaches and other ‘six figure folk’ will talk to you about. We want six figures because, culturally, six figures seems like you’ve made it. And as Layla Saad says in this brilliant article, people who push this on us as a sales tactic are failing us.

But if you only need five figures or four figures, then why are you spending all your time trying to get six figures? You are using up a limited resource (your time) trying to accumulate a potentially-infinite resource (money) because you ‘six figures’ is a symbol of something.

 

There will always be more money to be made and no limit to the wealth you could accumulate. There will not always be more time. There will always be a limit.

 


Valuing yourself and your time

With these two things in mind, I want you to know your time is worth something, because it’s precious. You do not have much of it and you must value it because of that. It’s not about your skills or education or any other factor; you must value your time simply because one day it will run out.

 

I value my time more highly than any amount of money I could earn. That doesn’t mean I have so much money I don’t need to work – it means I think carefully when I choose what projects to work on and how I wish to set my hourly and daily rate.

Not everyone has this privilege, and I’m acutely aware of my own privileges in saying I have choice in my work. I believe (and fight for) a society in which people are paid a true living wage, or receive a universal income, which I see as helping us all to move away from valuing humans only through the lens of money and productivity. We are valuable because we live, not because we live with a certain set of skills, talents or knowledge.

If you run your own creative business, however, you are also in a position to think carefully, choose your work, and set your own value.

 


Calculating value

I’ve been clear it’s essential you value your time. But how do you go about calculating that value in a way which translates into something meaningful for your creative business?

How you calculate your worth – that hourly or daily rate, or even the eventual price of your products or services – is up to you. It’s up to how you value your time and how valuable you think your work is to other people.

 

Wealth coaches and other six figure folk tell you if you don’t put a high price on your hourly or daily work, or on your products or services, you have mental blocks to accumulating wealth. That might be true for some – but we also live in cultures with other people. We live with economics.

Economic thought and structures affect us all, in negative and positive ways. Pretending you don’t have to look at competitors, customers, or your industry to put a price on your hourly or daily work, or your products or services, is complete rubbish.

 

Creative business people I’ve met often value their time and set their wage based on social norms, like the minimum wage. This makes sense in many ways; it’s a simple, easy choice, and we assume these wages are able to support someone in living a healthy and fruitful lifestyle.

But there’s no reason why you shouldn’t put a value on your time according to other factors.

A senior designer will get paid more than a junior designer because of experience and skill; are you valuing your time based on experience?

Someone who has a unique gift or a skill that’s very hard to master may get paid more because they are a rarity; are you valuing your time based on uniqueness?

People in London get paid a specific amount more than people outside the capital, because of the cost of living; are you valuing your time based on location?

 

As a personal example, I recently increased my copywriting rates. This was to reflect my experience in the industry and to better fit in with the market average shared by a trusted copywriting group.

Of course, when I did this I was nervous and immediately thought no-one would want to pay for me because I was more expensive. Of course, it didn’t change anything. People still wanted to hire me.

I had increased my costs because of legitimate and understandable reasons, and that made sense to people who wanted to hire me. What are the reasons behind how you value your time and set your rates?

 


What’s next?

Commit to valuing your time. Believe your time is of value (and not just because you might be skilled or clever or talented). Write it down, put it into your journal, make it your phone background. Start to let yourself value your time.

Then spend some time thinking of and documenting the reasons behind why you currently calculate the value of the time the way you do. Is it based on market averages, competition, the minimum wage, or something else? What else might you want to consider when calculating the value of the time you spend on your creative business?

Money is a very difficult thing to talk about and, as a creative business owner, it becomes even more complicated when the wages we’re earning are wrapped up in our own self belief and self esteem. Eli Trier’s email series and ebook called Naked Money is a great way to understand how different creative people relate to money, and their personal challenges. There’s also a Facebook group to join and learn from other creatives.

If you take just one thing away from this article, it’s that I want you to know your time is worth something. To your family and friends, your time is irreplaceable. To your creative business and your customers, your time is invaluable. There’s always more money to accumulate, but we only have so much time in the world. How you spend it, value it, and how you wish others to value it, is in your hands.

 


 

Crystal Clear Brand - A Workbook for Creative Business Owners launching September 28th

 

Your brand is invaluable

On September 28th I’m launching a do-it-yourself product to help creative business owners like make their brand crystal clear.

Your brand is one of the most valuable elements of your creative business. When done right, it’ll help you make decisions more easily and make the most of your time and energy.

The do-it-yourself product is a workbook guiding you through creating a crystal clear brand, done in an interactive, engaging and friendly way.

If you’re interested in learning more about the product and getting updates about the launch, sign up below.

To say thank you for signing up, once you’ve confirmed your email address you’ll get a free copy of my guide written specifically for creative business owners: How to Sell In Person Without Feeling Weird.


 

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Do you value the time you spend running your creative business? How do you value it? Do you believe your time is worth anything? Acknowledging this is essential to the health of you and your business, so why don't we do it properly?

Four Ways a Crystal Clear Brand Can Help You Build Your Creative Business | Eleanor Snare Sustainable Marketing for Creative Businesses

Four Ways a Crystal Clear Brand Can Help You Build Your Creative Business

On 28th September 2017 I’m launching a new do-it-yourself product for creative business owners to help them create a crystal clear brand.

It’s a downloadable workbook that takes you through all the essential, heart-and-soul elements of a brand, from your purpose and vision to your personality and core messages.


A brand sounds great – but it also sounds like a lot of work.

Why is having a crystal clear brand useful for creative business owners? Here are four simple ways it’ll help you build your creative business and reduce the stress and struggle you might be experiencing.


1. More effective decision making

With the right brand, the biggest impact you’ll see on your business is your ability to make more effective decisions. A brand is like a guiding light; it helps us decide what’s worth spending our time and energy on, and which things we should let go.

This applies to operational decisions – like the sort of products you should make and how you should make them – as much as it does to marketing tactics.

2. Less stress and struggle.

With more effective decisions comes less stress and less struggle. Creative business owners already have a hundred different plates to spin, from graphic design to accounting to email marketing.

Having a crystal clear brand makes spinning those plates much easier and smoother, making the whole experience of running your business more enjoyable.

3. Easier and enjoyable marketing

A consciously-created, crystal clear brand also makes it easier and enjoyable to focus your marketing in the right direction.

Rather than thinking about all of the things you should be doing, because someone on the Internet told you it was important, you can use your brand to guide you on focusing on what’s essential and relevant to you and your customer.

4. A consistent, clear message

For me, one of the most exciting things about developing a crystal clear brand is that it means your creative business will have a consistent and clear message for your customers.

Instead of not knowing what to say to your customers online, in print or in person – or worse, not really knowing why you’re saying it – your brand will guide you. You’ll have consciously created a message that’s clear and consistent; one of the key ways in which businesses achieve success.


In this article I talked about how brand is created whether you’re doing it consciously or not. With a brand that’s crystal clear, you realise you can be in charge of that conversation.

You can give your customers the message you want them to have, not rely on the one they make up about you when you’re not in the room.


Follow me on Instagram for more updates on the Crystal Clear Brand workbook

Why Saying No Will Make Your Creative Business More Attractive - Eleanor Snare

Why Saying ‘No’ Will Make Your Creative Business More Attractive (and Exactly How You Can Say It)

‘No’ is an incredibly powerful word. When you use it in the right way, it can make your creative business more attractive through better focus, better clarity and one of the most desirable qualities ever: exclusivity.

But how do you say ‘no’ without losing money, burning bridges and going against the socially-acceptable grain?

Why Saying No is The Key to A More Attractive Creative Business - a helpful blog post from Eleanor Snare

In my first job, a not-very-pleasant team leader asked me to work late, for no extra pay. Overtime is pretty normal when you work in a marketing agency, and I had done it before.

But this time the team leader said that, in return for working late, he would buy me (and the other juniors who worked past clocking off time) a bottle of wine. You know, to make up for the hours we would spend on his project rather than on much-needed leisure time.

I said no.

I didn’t say no because I didn’t want to finish the project. I didn’t say no because I wasn’t happy to work overtime.

I said no because I didn’t want him to think that my time was worth a £4.99 bottle of plonk from Sainsbury’s.

I said no because I wanted him to realise there was a line I wasn’t prepared to cross for my work.

I could’ve said “Yes, but don’t bother about the wine”, but I was very young and I was trying to prove a point.

That point still stands, and I still think of it now running my own business: saying ‘no’ means there’s a line. And a line means that you and your business have integrity.

 

A TOTAL LACK OF ‘NO’

How often do you really say ‘no’ in a day? Unless you’re in a really bad mood, probably not very often.

And that’s it – we associate saying ‘no’ with being negative, with being a wet blanket, a killjoy and generally a pain in the arse.

“No, I won’t help with the washing up.”

“No, I’m not coming to your party.”

In a social and cultural time where we really struggle to accept and express negative emotions as useful or healthy, saying ‘no’ is shocking. It’s a radical act.

It’s radical because it appears negative. It can even seem rude or impolite – probably the worst type of behaviour in British society – as it appears as though you’re putting your needs before someone else’s. Saying ‘no’ means you might disappoint someone, or let them down.

 

‘NO’ IN BUSINESS

All these social implications of ‘no’ filter through to the business world, and they’re especially pertinent if you work independently or run a creative business. People expect creative business owners to be ‘touchy-feely’, because they’re creative. They expect them to be nice, and ‘no’ is not nice.

Small, independent or creative businesses are also normally in a precarious position when it comes to saying ‘no’. Turning down work or customers with a ‘no’ might mean burning bridges. It might mean missing out on promotion. It might mean you don’t earn any money that month.

Saying ‘no’ starts to become a question of paying the bills, rather than whether you actually want to do the thing or not.

Some of us end up not saying ‘no’ for another reason; because we don’t know what we want to say ‘yes’ to. We don’t know who our target market is, what our ambitions are, what we really enjoy, or what the future of our business is. So we keep saying ‘yes’, even if we really want to say “No, no, no! I need a bloody break!”.

 

THE POINT OF ‘NO’

Saying ‘no’ means there is a line you won’t cross. It means that you, and your business, has integrity. It means you have principles which are so important to you that you’ll stick by them, no matter what.

By saying ‘no’ to things, you give yourself some time and space to think. You can take a step back from rushing towards another ‘yes’ and really consider what you want to do with your business. Constantly accepting things (whether they’re work, commitments, hobbies or even dates) doesn’t give you any time to reflect. On anything.

The point of ‘no’ is to focus your attention on what you really want.

In your creative business, that’s the core goals you have, the core services or products, the core market you want to attract. You stop saying a scattergun ‘yes’ and find the ability to focus.

Saying ‘no’ can help make your business more attractive to clients and customers because your output is more focus, your USP is clearer, and very importantly: you are exclusive. You do not say ‘yes’ to everything. Not everyone can have a piece of you. That makes you (and your creative business) valuable.

 

HOW TO SAY ‘NO’

We all have problems saying ‘no’, whether that’s to friends, family, or a delicious packet of ready salted crisps (I know it’s the most boring flavour, don’t judge me). Cultivating the ability to say no takes time and practice. I’m no life coach so if you’re a creative business owner who really struggles to say no and you feel like you might need extra (emotional) help, have a Google.

But if you know that you can say ‘no’, you just never seem to actually say it, then here’s some advice.

 

Keep a buffer.

Money is the main reason creative businesses and independent workers don’t say ‘no’. Saying ‘no’ might be turning down your only money for that month, which is a risky, frightening thing to do.

It’s hard at first but keep a financial buffer to help you say ‘no’ when you need to. Two or three months’ expenses is a useful amount, if you can do it, but even a month’s worth can be helpful.

 

Try not to take any shit.

The other very tricky time to say ‘no’ as a creative business or independent worker is in the middle of a project. Try not to take any shit from your clients or customers. You won’t know what that shit is until they do it and your gut goes “Hey, wait a minute…”. Then say ‘no’.

Changing briefs, changing payment terms or amounts, adding or taking away work, messing around with contracts or pissing about with timescales all constitutes ‘shit’ in my book. You are allowed to say ‘no’ if someone tries to mess you around.

 

Have a ‘no’ list.

Actually, have two lists: a ‘no’ list and a ‘yes’ list. On your ‘yes’ list, write everything you really, really want and like when it comes to your business; who you like working with, what work you like doing, etc. On the ‘no’ list, write all those things which give you that ‘euurrgghh’ gut reaction. It might be a type of work, client, customer, payment terms – whatever you want.

Write that list and stick to it.

These lists will grow as your business develops and you gain more experience, but even when you’re starting out you’ll know what makes you want to hide under a duvet.

 

Remember you are a commodity.

You might not say ‘no’ running your business because you’re worried you might let a client down, or put someone in a difficult position. Remember, you are a commodity: if you don’t do the work because the terms aren’t right, your client will most certainly find someone who will without much fuss.

Yes, you might lose the work – but do you want the work if you’re going to be stressed, underpaid and exploited?

 

Be kind when you say ‘no’.

You can still be a nice person and say ‘no’ – in fact, it makes it a lot easier to turn down opportunities when you are graceful and kind. In that first example of me saying ‘no’ as a junior team member, I wasn’t graceful – I was a bit obnoxious. Learning to be kind and saying ‘no’ has helped my business a lot.

By doing it, you won’t burn any bridges with potential clients or customers, but you also won’t sour a good relationship by accepting work that you simply don’t want to do.

 

You don’t have to explain yourself.

I know, right? You can just say ‘no’ without explaining why, or saying “I can’t” or “I’m afraid that”. For British people, this might just be a revelation.

Of course, I never, ever do this because I have frightfully intense levels of politeness buried deep within my genetic code. But you might be able to. It can be useful to explain why you’re saying ‘no’ if you feel it could resolve issues for the future, but that’s your choice.

 

Remind yourself why you’re saying ‘no’.

You are not a fool. You are not an arse. You are a creative business owner who values their time. You value the type of work you do and the type of people you work with. You don’t just say ‘yes’ to any old thing.

You are focused, clear on your goals and exclusive. You have lines you won’t cross. You have integrity. Remind yourself of these things if you wobble from the path of ‘no’.

 

‘NO’ MEANS ‘NO’ MEANS ‘YES, I HAVE TIME FOR BETTER THINGS’

Saying ‘no’ is a tricky thing. It’s socially and culturally conditioned, and yet it’s essential for our creative and professional health.

Saying ‘no’ brings focus to your business, makes your goals clear, and adds desirable exclusivity to your products or services.

‘No’ makes your creative business more attractive because it shows you have integrity. And it gives you more time to say ‘yes’ to better, more exciting, more ambitious and more meaningful things.

 

 

Five Essential Business Advisors for Creative Business People

Before I decided to set up my own creative business, I spent a lot of time asking for advice.

Who you ask advice from is just as important as the advice itself. It’s easy to choose people you know will affirm your business decisions. Asking people who might contradict you, challenge you or make you question your choices is hard.

But these advisors who push you can help you make better decisions and commit more firmly to your goal.

When I was about to leave school I was set on doing an art foundation year at my local college. Because my school focused on academic achievements, my other tutors weren’t able to help me make the right choices. I was sent to my art teacher. I explained what I wanted to do.

He looked at me and asked:

“But are you sure you can do it?”

I was shocked. After being turned away from other tutors, I expected him – the arty, creative one – to fully support my decision. But instead he challenged me to prove it was really what I wanted.

I fought my corner passionately. After I’d finished, he nodded and said: “Then you should do it.”

He wasn’t trying to discourage me. As an advisor, he was challenging me to demonstrate my commitment. He wanted me to come to the right choice independently.

Without his prompting, I wouldn’t have proven to myself that my chosen path was exactly what I wanted.

When you make a business decision, especially one as life-changing as becoming self-employed or running a creative business, you need advisors who’ll make you prove yourself, as well as people who’ll help you along the way.

Do you have these people in your circle?

The Cheerleader - Eleanor Snare

The Cheerleader

“You’re doing great!”

This person supports you, unflinchingly and unfailingly.

Even in the middle of what feels like a total disaster, they’ll point out the benefits and lessons you’re learning. They’ll tell other people how great you are and lift your spirits. Often, these people aren’t your closest friends, because those people know you too well to be positive all the time.

I’ve been lucky enough to have a few brilliant Cheerleaders in friends and former colleagues who have always told me I’m doing well – even when I’ve felt the opposite.

The Challenger - Eleanor Snare

The Challenger

“You already know the answer.”

This person listens to your problems and encourages you to find the way out yourself.

They won’t, under any circumstance, tell you the answer – even if they know what it is. They will also push you to communicate if they can sense underlying problems you’re not talking about. They’ll often be a mentor figure and have a career that’s ahead of yours.

My Challenger is my partner, who knows me – and my problems – very well, as well as having rich professional experience he can draw from.

The Comrade - Eleanor Snare

The Comrade

“Seriously, it happens all the time.”

This person has been there, done that and seriously knows their stuff.

They might not work in the same field as you, but they’ll have experienced every one of your problems twice over. They will often tell you their approach, rather than suggest you find your own way out, but that can be really valuable. Comrades are your siblings in business, who’ll always lend an ear and a hand.

My Comrades include self-employed copywriters, web designers, graphic artists and project managers who have all taught me something useful about being a freelancer.

The Catalkyst - Eleanor Snare

The Catalyst

“Well, why not?”

This is the person who tipped the scales; the one who made you make that big decision.

Business decisions can take a long time to be made, and I’ve found there’s normally one or two people whose opinions finally set wheels in motion. They might not actively encourage you to take big leaps, but something they say will be a trigger for your actions.

My main Catalyst was my dad, who worked in a classic nine-to-five job for thirty years. When I asked him what he thought about being self-employed, he said “If anyone can do it, you can.” That convinced me to make the change.

The Critic - Eleanor Snare

The Critic

“Hmm, I’m not sure…”

This is the person who believes you won’t do it, you can’t make it, it’s not that easy and you don’t stand a chance.

Often the Critic is simply voicing their own fears about how they couldn’t do what you’re doing, but their viewpoint plays an important role in your business decisions. By paying attention to their criticisms you can normally find a grain of truth in what they’re saying, no matter how uncomfortable it is.

My Critics have included nervous friends and ex-colleagues, whose thoughts – while frustrating – made me want to prove them wrong and helped propel me forward.


Five Advisors - Eleanor Snare

Five essential advisors, one centred decision maker

I believe these five people – the Cheerleader, Challenger, Comrade, Catalyst and Critic – are crucial in helping you make strong business decisions, especially if you’re a creative business owner or self-employed.

When you operate independently, you don’t have a team of people around you to discuss decisions with; you have to find your own circle of business advisors.

Choosing those creative business advisors wisely means allowing difficult opinions as well as positive ones into your decision-making. By doing so, you’re much more likely to take a considered and well thought out path.

Without a range of advisors, you’ll end up swaying to an extreme position. Keep the five points in place and you’ll be able to centre yourself and your business much more effectively.

 

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