How to Calculate the True Monetary Value of Your Time
Do you know the value of your time?
Ken Segall, creator of Apple’s famous “Think Different” ad campaign for agency Chiat/Day, said he got thrown out of a meeting once by the founder of his agency, Jay Chiat.
“Why are you here?” he asked Segall and the art director, who’d shown up with everybody else.
“We’re just responding to the invitation,” said Segall.
Chiat told them to get lost. “Go create something,” he said.
Jay Chiat knew the value of his creative people’s time. He knew it wasn’t worth it for them to go into that meeting when they could be putting together the next big ad campaign. They were more valuable to the company doing the creative work that made it run than attending a meeting.
That’s what knowing the value of your time can do for you; it tells you what’s most important. Time is the one resource all of us have, but it’s also painfully finite in nature. You can’t bank it -- all you can do is invest it wisely.
As an entrepreneur, if you don’t know the true monetary value of your time, how are you going to prioritize your business and your life? What does it take to find the monetary value of your time?