Time: Buy It and Sell It
Professional athletes live busy lives. How do they squeeze tasks such as cooking and cleaning into a day already occupied with practice, weight training, and resting? Most of these athletes don’t — they hire people to perform those tasks for them.
Though the majority of us aren’t professional athletes, we lead busy lives, too. If we have the opportunity, we hire help. Think about it. Think about how much money you make per hour at work. If you can hire someone to do your laundry for less than that and don’t, basically you’re taking a pay cut to wash your own clothes. Unless you really like laundry (and I understand many people do), that’s a bad deal.
So, take the company, 2ULaundry. They do your laundry, but their real business is selling time. You pay them money, and in return you get a free hour (or 2 or 3) you would otherwise have had to spend doing laundry.
If you think of time in this manner, you can look for ways to buy and sell time, thus increasing your efficiency at work.
By delegating tasks to people that can do them better than you, you are buying time.
You are selling time when you work to save your client’s hours. For example, say you sell real estate. Learn what kind of property your client is interested in and narrow the options down for them. Instead of showing them thirty houses, you can show them five.
Time is a very valuable commodity, so by selling time, you increase the value of the service you offer.
When a website page takes to long to load, you click on something else. If a local cafe is too slow bringing your food, you don’t come back. If there is a long line at a hardware store, you complain. We’re all looking for a little extra time.
People want more time. Buy and sell it.
3 Key Points:
1) Recognize how much your hourly rate is
2) If a task doesn’t give you some sort of gratification or come close to meeting your hourly rate, see if you can delegate it
3) Buy Time and Sell Time.
- Video: Kyrie Irving doing laundry
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A version of this post was originally published on Sportsepreneur.com.