By Charlie Gilkey
People will spend an inordinate amount of time to save a few dollars. There’s often a lightbulb moment that happens when you ask them to calculate their time-dollar value.
Take a second to think about it. If you spend 3 hours avoiding paying $12 for something – or researching whether you should – yes, you’ve saved money, but you’ve also been working at $4 per hour. If you’re an entrepreneur, your time is worth more than $4 per hour, and while your choice has saved a “hard” cost, i.e. money, it costs more in “soft” costs, i.e. your time. Energy and attention are two other soft resources we need to be thinking about, too.
Soft costs are just as real as hard costs, though. In that 3 hours, you could have been... More...
