Cost Foolish

I wrote a post about someone who saved $10 when buying a R.E. Education course and is now getting no service or bad service costing him lots of time. When making decisions, I believe you must know the value of your time so you can evaluate real costs.

For example, if you want to gross $100,000 a year to net $60 -$70k, you have to gross about $2,000 a week or $50 an hour. Yes, at that rate the time is worth $50 an hour and many people waste time on low value projects.

As soon as possible, get an assistant to do the entry level pay type jobs. You will be glad you did. One time someone drove from San Fernando Valley to Mission Viejo to save a $15 shipping fee. That is 3 hours round trip plus auto expenses. Lower than minimum wage. Not an executive-type decision.

A staff member one time wanted to drive 35 miles each way to get a $10 lower price on an office purchase.  Cost to me 1 ½ hours times their salary plus payroll taxes, etc. and then .50 cents a mile ($35 for the trip). A dollar saved is a dollar.

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