Time is money. Or is it?
Time is NOT money. Is it not?
So I’m having a little argument.
An argument with myself.
Maybe argument is too harsh… it’s more like an inner dialogue.
And it goes a little something like this.
Time Is Money
As a consultant it is the norm to quote an hourly billable rate to potential customers when they ask… so since the quote is based on an hour and what I would receive in exchange for an hour of my time is money, it follows that Time Is Money.
But then my customer advocate screams… not so fast there!
Time Is NOT Money
My inner customer advocate wants to do what is right. Wants to create win-win scenarios for both my business AND my customer. So she says… Time is NOT money! She says, you’re focused on the wrong thing… Kill The Timesheet. Seriously. Focus on what your customer wants most from you. They want your expertise, they want value, they want solutions… not time. So Time is not money?
Value & Solutions NOT Time
The quote from Benjamin Franklin, “Time is Money” is one of the most misconstrued quotes ever (in my humble opinion). The full quote is actually “Remember that time is money”… and he is really talking about being productive and not wasting your time and energy. That when you use your time and energy to your fullest potential, minimizing expenses… you will be rich. And being “rich” isn’t always about just money.
I would think that Mr. Franklin would chuckle at our obsession with time and money. Being an avid reader, writer and innovative inventor, I think he would agree with me when I say that it is not time that is money, in the sense and context that it is used today, but it is value given and solutions offered that are money. They are what presents valuable exchanges between service providers and customers…not arbitrary units of time.
It’s not the time itself that is valuable, it’s what you do with that unit of time that is of value to your customer… it is what you do that is worth the exchange of money to your customer.
So… why do we say that time is money? I would argue with you (and myself), that Time Is NOT Money.
What do you think? Do you think time is money? Do you use it as the predominate unit of measuring the value and solutions you have to offer your customers?
Have a question? Leave your question and/or comments in the comments section.
I’d love to hear from you.
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