Time valuation: Are All the Things You Do Really Worth Your Time?
I recently just completed staining my deck. I have never stained a deck, but I have lots of experience with wood working projects, including painting and staining, and I thought, “how hard could this really be” and “It won’t take me that long. I could get it done in one day.”
After a cumulative of almost 18 hours over the course of 3 days, I’ve nearly completed the deck. During those many hours filled with solitude, quiet, and time to think, I began questioning whether this deck staining project was truly worth my time and if I was really saving that much money by doing it myself.
Many entrepreneurs and small business owners find themselves in very similar situations. You may be asking yourself whether all of those tedious home maintenance projects are worth your time, or you could be asking that of yourself when it comes to answering the phones, scheduling your customers, processing orders, marketing, doing your taxes, and the list goes on.
In the end, every single entrepreneur out there really needs to think hard about how much their time is worth. Are you more valuable gaining customers and completing customer related tasks than you are answering the phone?
Just as an example, let’s say you are an attorney trying to build a clientele. Do you get the most out of your time doing attorney tasks (say valuing your time at $300 per hour) or doing secretarial work like answering the phone and scheduling clients (say time valued at $10 per hour)? The clear answer would be that you make the most of your time doing what you are trained to do!
Don’t fall into the trap thinking that you can save money by doing everything yourself. In the long run, hiring people to help you answer the phones, aid you with your marketing campaign or website upkeep, or doing your taxes will free up your time to do what you do best- pour your time and energy into the foundation of your business so that you can grow and become profitable.
The Buttonwood Business Center can help you get the most of your time by taking care of some of the details of running a business so that you don’t have to. You can focus on doing what you do best! Our dedicated secretary can answer your phone calls and greet your clients. Don’t worry about paying multiple utility bills for internet, phone, and custodial services. We take care of it all. Would you consider letting us help you get the most of your time?