Time is money. I’m not the only one who says it, nor did I invent the phrase. Almost everyone uses it. The question that nobody asks is: how much is your time really worth? I’m aware that everything can have a price.
The value of time Photo rights by Fotolia
The question is whether someone is willing to pay for it. If you are a freelancer you can put an hourly price on your time of x euro or dollars. In this case I am not referring exactly to that. The question is whether time is always worth the same regardless of the context.
Your time is worth as much as the value you are able to generate at that momentWhat does this mean when we say “your time is worth as much as the value you are able to generate at that moment?” We are talking about opportunity cost, although I also like the concept of the value of the moment . But that is another topic. Let us compare costs and, if we can, put a real value on them in euros.
If you are not productive,
Your time is worthless : “nobody pays you to think” is the first thing that comes to mind, although that phrase is not true either. From time to time, it is good to think (e.g. to be more productive). Spending time on Facebook or Twitter sharing pictures of kittens when you could really be “working” makes your time worthless at that moment.
The value of your time compared to someone else’s : Imagine if you hire someone to do what you do. It only makes sense if it saves you time by freeing up time to do tasks that add more value. In the short term, this calculation doesn’t always overseas data have to work. Although outsourcing the creation and layout of a WordPress blog would meet this condition, you would have to add the cost and risk of finding a trustworthy freelancer.
If you have to launch a project in the short term
you will have no other option what are stories and why are they so strategic? than to do it in person.Performing tasks below your “status” to motivate the team : At Coguan there was a time when we had more than 30 people on the team. As CEO and founder I had a lot of responsibility while still relatively young (28 years old). One of my tasks was to buy toilet paper. I didn’t do it because I liked it but to set an example that I didn’t mind doing what they asked. It was a way consumer data of motivating the rest of the team that despite “wasting my time” it was compensated by a greater motivation of the people at Coguan.
Now don’t ask me
To what extent and/or percentage this has increased globally because I would have to come up with a figure out of my hat (not to say invent it).
The value of time when you are not productive
It’s one thing to waste time procrastinating. It’s another thing to spend time doing things that make you happier . This can be practicing a hobby, spending time with family or friends, and any other activity that helps you increase your quality of life.