That is such a loaded question, isn’t it? Time is one of those things we value a lot, yet in business we tend to overlook things that suck it out of us like a shop vac. Sometimes we place our emphasis on the wrong things and as a result we end up doing things ourselves that are better delegated, outsourced or otherwise more effectively handled.
I asked this question in my feeds the other day and got a lot of interesting responses. Here are some of what people said:
- About $40 an hour.
- I’m salary so it’s all in baby
- Time is really all I have whether or not I am making money so it defines who I am by how I use it! What time is worth may depend on what you value!
There were many other answers as well, but these seemed to best sum up the lot of them. One recurring and most common of all those that answered was that their time was “Priceless“.
Priceless is an interesting term. When it is the answer given to something physical you are considering selling, it indicates you do not really want to sell it. Think about it…
So if your time is truly “priceless”, you would never sell it. Yet we do sell our time every day. To our employer, our clients, our family, etc. The tricks is to determine what you really think your time is worth to you, then make business and personal decisions consciously that are in alignment with that value.
So I ask you, how much is your time worth? Think for a moment or two…
Me? When I consult brands on social media, marketing or other business segments, I charge between $250-$400 per hour. I am not just billing for my time, but also my expertise or skill in a certain area, plus my time. So when I am spending time doing something within our company that does not result in direct income, I end up costing US $250-$400 per hour. Make sense?
If you are a social media agency, you understand the value of time. You sell your time and expertise to your clients under the guise that they could never have the time or knowledge to do it themselves. Hence, they need you. Your time in the form of business efficiency, effectiveness and knowledge are what you provide. The more a prospect or client perceives value in your time, the more it is worth to THEM.
Social media is human intensive when done properly. If you don’t realize this, you do not understand how social media marketing works. Using your time wisely to get the most value from it should be the most important thing you manage in your social media marketing efforts.
Food for thought…