Buy Time and Sell Time

Buy and Sell Time

Buy Time and Sell Time

Professional athletes lead busy lives. How do they fit things like cooking and cleaning into a day already filled up with practice, working out, and studying? Most of them don’t—they hire people to do those tasks for them.

While most of us aren’t professional athletes, we lead busy lives, too. If we can, 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, that’s a bad deal.

So, take Dan D’Aquisto’s 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 way, you can increase your efficiency at work by looking for ways you can both buy and sell time.

When you delegate tasks to people who can do them better than you, you buy time from them.

When you work to save your client hours, you sell time. For example, say you sell real estate. Learn what kind of property your client wants and narrow the options down for them. Then, instead of showing 50 houses, you show them five. Time is a very valuable commodity, so by selling time, you increase the value of the service you offer.

When an internet page takes to long to load, you click on something else. If a restaurant takes too long to bring your food, you don’t go back. If there is a long line at a grocery store, you complain. We’re all looking for a little more time.

Time is what people want. Buy it and sell it.

 

3 Key Points:

1) Know your hourly rate 

2) If a task doesn’t net you gratification in some way or come close to meeting your hourly rate, see if you can delegate it

3) Buy Time. Sell Time.

 

Resources:

 

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  • BlueHost: Hosting service that saves you time with its simplicity
  • Envato: Themes for your website that allow you to focus on the content
  • ConvertKit: Email marketing made easy

 

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Image of Urban Meyer, head coach of Ohio State taken by Adam Glanzman with Creative Commons 2.0

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