Although Ben Franklin was right about many things, he was wrong when he said that time was money. Our scarcest resource, time, is actually more valuable than that. Yet we’re more careful about spending our money than our time. [1]
So, how much is your time worth?
I get asked that question a lot, especially when speaking to others who have or have had successful consulting practices. As a culture, we even like to break down large sums of money into ‘hourly wages’ just to try and make them more tangible. Kevin Garnett, the highest paid player in the NBA earns about $129,000 an hour. Putting a huge number, like his annual salary of $27,500,000, into smaller bits can make it easier for us to comprehend.
I can’t claim to make as much as KG but in my world, I can say that an hour or two of my time is worth more than a fancy meal, a night at a nice hotel, or even a quick flight to Las Vegas.
MeetingMade personally saves me between two and three hours a month. I have heard claims [from our competition] of ‘hundreds of hours saved a year’ which is very hard to believe. I actually tracked the time I spent scheduling meetings from January 1, 2007 through to December 31, 2007 and spent a total of 32.25 hours scheduling meetings the traditional way. In 2008, I used MeetingMade, and saw that number get reduced down to about eight. Since my time is worth considerable more per hour than what we will charge for this application, we feel that the value proposition is pretty strong.
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[1] 2008 The New Psychology of Time That Will Change Your Life By Philip Zimbardo and John Boyd
