What’s your time worth?

Black Friday is an American tradition that has been adopted by retailers over here in Ireland. It’s just like our own Christmas sales. In both cases, TV stations will visit shopping centres and interview people who have given up the biggest family day of the year to camp out all night for a half price television.

Is getting a few hundred euro off a tv worth missing Christmas Day with your family  and sleeping on a hard floor for the night? Don’t electronic stores have sales on all year? When we got our new tv last year, the salesman decided that he needed to bargain with my wife. I was quite happy to pay the display price, my wife wasn’t bothered with getting a new tv at all. So he kept on bargaining himself down and we get 25% off the display price. The whole transaction took about 20 minutes on a Saturday afternoon and involved no camping out.

This is not just restricted to buying stuff in the sales. With YouTube, you can find instruction for almost anything. So there’s no excuse not to do those DIY jobs. Except you won’t be able to do it as quickly as someone who does it all the time. And will it be done as well? Would you prefer to spend the time with family and pay some to do it correctly and right the first time?

In work, how many of us do admin jobs that we really shouldn’t be doing? If you are in an owner or in a senior position, you should be creating revenue for the business and not doing jobs that others should be doing. Outsourcing this work to others means you can spend more time generating income.

We all get the same 24 hours in a day. A large portion of that is spent sleeping/ resting/ commuting so we really don’t get that many productive hours. It’s important to make the most of them.

If you have any questions, email me at steven@bluewaterfp.ie