We all know the saying "Time is money", but what is the value of your time?
Most business resources are unlimited. You can have as many customers, jobs, locations, products, vehicles, etc. that you choose to have.
However, there are only fifty two weeks per year, with seven days per week, each with twenty four hours. You need some of that time for eating, sleeping, spending time with family, going on vacation, etc. Time is your most precious and limited resource. So plan carefully how you give your time away.
To get an idea of the value of one hour of your time, add your hourly wage + the average cost of your benefits + the cost of your vehicle, gas, insurance and maintenance + the cost of any specialized tools or equipment. This will give you an average of what your time is worth to you.
So, next time someone says they just need a few minutes of your time, keep in mind what it's going to cost.
