
Good evening Ladies and Gentlemen.
Yesterday I asked how to increase your value per hour.....a function of revenue and time.
The utilized amounts of the various inputs determine the quantity of output according to the relationship called the production function.
There are four basic resources or factors of production: π Land π Labour π Capital and π Entrepreneur (or Business)
Your value per hour is based on your effectiveness of using the 4 factors.
πLand - your location and nerve center of your business operations...are you strategic?
π Labour - your most critical asset is your people...limited labour productivity impedes your revenue and therefore your value
π Capital - this has the capacity to cripple everything else you are trying to do.
π Entrepreneur/Business - you and the business you do. Perhaps you are the problem your business has or maybe you have a bad business that you are not cut for.
So, what must we do to increase our value per hour?