Tuesday, March 07, 2006

How Valuable Is Your Time?

"How valuable is your time?" I am increasingly asking clients (and myself) this question when deciding where resources - time and money - could best be spent.

If you bill at $300 an hour, does it make sense for you to spend 45 minutes on hold with your Internet provider to find out why your email isn't working? Or, could you hire a local college student for $10 an hour to either fix the problem or sit on hold for 45 minutes?

I think, in effort to save a dollar, sometimes we end up spending much more than that in terms of our time and its value.

1 comment:

Pat Murphy said...

This is always a good topic of discussion. I am a one man practice. When I create client files everything is placed in three ring binders for easy reference. Depositions sent to me have to be three-hole punched which is obviously very time consuming. This has always been charged to the client. Now I let them know up front of my file method and ask that they send all documentation in pre-holed paper. I've never had anyone complain since.