I'm used to thinking about the cost things on my business and doing the ROI...whether it's the actual return on investment for the spending or the return on my time.
Yes, I often think about opportunity costs...like if I saved time by using an online tool, I can reinvest that time. I could use that time to coach someone at $200/hr. Or better yet, I can use that time on another project that might net me $300-$500/hr. You get the idea.
As my business has grown and as I've been earning more money on my blog, it's very easy to see. (It was more challenging 3 or 4 years ago when I was in the thick of things...even though I got it intellectually.)
It's funny, because I was just updating and optimizing an article on which Miele vacuum to use. (I still have some more work to do it, but I need a break).
And, then something hit me.
Just like I value my time and think about it like a trade-off, well the same thing happens with the vacuums I'm writing about. It's not just that Miele vacuums and great and have the best suction.
But, because they have the best suction, they will actually save you time in vacuuming. And, that is another value point. I need to figure out how to integrate that concept into my article.
It especially works because Miele vacuums are on the more expensive end...and people that can afford them and value their cleaning superiority also value their time.
So, in the same way that I'm willing to pay more for my grocery deliveries (sure, I started doing it for safety reasons), I went through the mental calculation of how much time it saved me...time that I could put towards my blog...to make more money to then in turn essentially make the grocery delivery more than free, so I plan to continue to order groceries this way most of the time (even though I'm fully vaccinated).
It is so much faster for me, especially since I live in an apartment and having to get those groceries out of the car and into a cart and add a couple of extra elevator/long hallway trips.
I'd rather reclaim that time. It means more time for me (more time to exercise, more time to relax, etc.)
Plus, I also feel good that I'm helping someone else out with a job (and I tip well), so I feel that I've created a mini win-win and maybe helped our economy an extra iota.
Just my random thoughts for the day as I sit out here on my parent's deck in absolutely perfect weather.