What Is Your Time Really Worth? | DYB Coach

What Is Your Time Really Worth?

painting contractor business coach

 

I find myself solving problems every day, at work and at home.  It’s what us contractors do, solve problems, check things off our list and do it all again tomorrow.  Sometimes these problems mesh together becoming an even larger distraction from our more important items we need to get done.

Here is an simple way to get some time back!

Record everything you do every day and put a time to it.

  1. Drive to Hardware store to get screws for a job – 30 minutes.
  2. Pickup paint at the store to deliver to a job site – 1 hour.
  3. Bid a job that is an 45 min drive from your office – 2 hours.

Ask yourself:

Should I be doing these things?

How much did “Today”cost me?

Which tasks should I be delegating or outsourcing?

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Formula: Gross yearly income/Total hours worked in a year = Cost per hour worked.

If you make $100,000/2500 hours (50 hours a week) = $40 per hour.

Those screws just cost you $2 plus $20 = $22.  How much would it cost to ship those to your shop? $5?

This exercise only takes 1 day to do, and it’s an eye opener!

 

How about streamlining your estimates being scheduled?

Meaning less phone calls…

Less emails back and forth…

Just booked estimates.

Estimates that are automatically book according to your schedule with You Can Book me, and it syncs automatically with your Google calendar!

If you are not using it yet, here is a free video of April walking you through how to get it on your site here.

 

About the Author

Owner of ESP Painting, Jeff was coached by Steve for over a year before being certified as a DYB Coach. He continues to operate his successful painting business as well as coaching other painting contractors to DYB their business.