Task Time Cost Calculator

As cliche as it is to say, time is money.

And if you’re a business owner, your time is one of the most important resources to the business.

Why? Because you have the vision. You’re running the ship.

I’m going to show you an example of how you can roughly calculate the cost of tasks you’re doing.

(and there’s a cool tool at the bottom that you can play around with in real-time)

If you spend time on tasks that could be automated, or delegated, there is a direct cost, and an indirect cost.

Direct cost

You roughly have an hourly rate, right?

(or least a daily rate, so you could work backwards)

Let’s say your hourly rate is $50 USD.

If you spend just 1 hour a day on a task.

You could calculate that it costs you

(assuming 5 working days a week):

$50 per day…

$250 per week (5 hours)…

$1,000 a month (20 hours)!

$12,000 a year (240 hours)!!

Yup.

Another big question, what’s the return on that task?

If it’s just repetitive admin, there’s definitely something more important you could be spending that time on.

E.g.

• Improving the way you work with clients so they get better results
• Making your offer even more value-able so it converts even more clients
• Creating marketing content which attracts more leads

In the long run, focusing on those types of tasks, are going to create significantly more return in your business than the time spent on admin.

Those are the indirect costs, the opportunity costs.

I.e. what are you losing out on by focusing on something else.