Distractions Have a Hidden Fee

Silent Reading Time: 2 mins 9 secs

Numbers tell a story, right? So here’s a cold reality:

Workplace distractions cost the US economy $650 billion a year.

If time is money, have you considered the hidden fees of distractions? Beyond your financial benchmarks?

Consider this,

If you charge $500 an hour, every hour spent on a distractions is a $500 loss. The hard pill, that hour could have gone to a value: family, well-being, simply living.

The problem is, most us think a quick check of our phones, giving 5 minutes talking to a friend is harmless. Those interruptions add up to wondering where the day went or guilt.

So we’re on the same page, lets agree what distractions are: Anything that takes you away from what matters.

Note: So there’s no confusion with breaks. Distractions make you feel like crap and breaks energize you.

What people often neglect to mention is distractions can be people, things, and even your mind.

I should know. I spent 6 years telling myself I’d build a business, then allowed fear of success and meaningless tasks stop me. Completely unaware.

(Un)common distractions:

• People pleasing

• Unscheduled calls

• Always being available

• Saying yes when you mean no

• Checking email to avoid a challenge

So, let’s convert distractions to money lost. Oh look, I mapped it out already.

For anyone who doesn’t want to open Twitter in fear of another spiral keep reading:

How to calculate your hourly rate:

Formula: Desired base annual target / # of workday hours per year x productive hours a day

• Desired based annual income target: How much you want to make a year based on the lifestyle you want to maintain. Then add 8.5% for inflation.

• # of workday hours you plan to work per year

• Productive Hours*: Let’s be honest, it’s just us. How many hours a day do you actually get your work done?

Example:

Desired base annual target: $1,250,000

Total hours worked per year = 40hr/week x 50 weeks = 2,000 hours

Productive Hours = 3hrs a day

Hourly rate = $1,250,000 / 2,000 x 3 = $1,875 per hour

Therefore, your hourly rate would be $1,875 per hour.

Now that you have your hourly rate, here’s how you can start building buffers for distractions:

• Set boundaries. This means creating rules for yourself and sticking to them. For example, you could turn off your phone during family time or set a specific time for checking your emails.

• Prioritize high revenue tasks. Focus on tasks that generate revenue and delegate tasks that are not important.

• Communicate with your family. Ask for their support in keeping you present. They'll appreciate the effort and not feel like a second thought.

Mental reminder: When distractions arise, remind yourself that every minute spent on them is a minute you could be spending with your family.

Bottomline: As an entrepreneur it’s crucial to understand distractions have a hidden fee that goes beyond your financial bottomline — time for what matters.

So what’s keeping you distracted? Press reply and lets talk about it.

Nichole.