How much is your time worth?

Here at Time Saving Heroes we provide a variety of different services, but they all boil down to one end goal – to save you, our client, time.

As a business owner you will be only too well aware that time is money, but precisely how much is your time worth? £25 per hour? £50 per hour? £100 per hour? Everyone is different, and much will depend on the nature of the work you do and the expertise you bring to the table – but we should all know how much we are worth on an individual basis to our business.

No matter what you are worth in monetary terms, are you the only person that can bring in that revenue? If you are a sole trader, then clearly, the answer is “yes”. Even if there are other members of your team, perhaps you are the only one that secure the high-end fees. Perhaps you are the only person that generates new income and revenue streams because no one understands the business the way you do – it is, after all, your baby.

It begs the question then why you would waste your time doing tasks that other people could do. Perhaps you don’t see it as wasted, they are no doubt tasks that need to be completed to ensure the proper running of your business – but do you need to be the one who does it?

Have you stopped to consider that for some tasks it would be far more beneficial, financially, to pay someone to do them instead?

Consider the case of Bob (a real client, but not his real name).

Bob is a tiler and, on average, earns £250 per day. He’s very good at what he does, in fact, many regard him as an “artist”. Only Bob can do the physical work that his clients pay him for. Bob’s average day is no longer than six hours. He therefore earns £41.67 per hour.

However, Bob also does all the admin for his business. He dedicates every Monday to answering emails, writing up quotes, sending invoices and doing his bookkeeping. Bob has no real admin experience, is not confident with computers and spends 10 hours every Monday just trying to run his “office”. He admits himself it’s not his forte, and because things are completely ignored Tuesday-Sunday, by the time Monday comes around again it’s a bit of a mess.

Within a week of working with Bob we were able to streamline a lot of his processes and we now only bill him for one hour a week to complete all his admin needs. Yes, this costs him £100pm but in exchange he has now saved himself 10 hours per week – which he has turned in to time he can complete more work. As a result, he can now charge an additional £250 per week, which is a whopping £1,000 per month of extra income (or £900pm if you deduct our fee).

By using Time Saving Heroes he has earnt an additional £900pm! Now, that’s what we call return on investment.

Of course, not everyone is in that position, and we are not suggesting for one second we can produce the same results for all our clients; however, the principal remains the same. By reducing the time you are wasting on things that you can outsource, that we can probably do more efficiently than you because this is our area of expertise, you can dedicate more time to your area of expertise.

Why not give us a call today on 0161 883 2024 to find out how we can help you be more efficient, and make more money?

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