Time Saved is Money Earned

Time Saved is Money Earned
February 26, 2016 Helle Lauridsen

You will want to read this. It is good.

It is not like you don’t know this. Of course you do. But we all forget sometimes to keep the focus on how we spend the time. We suffer too many distractions and it takes a lot of disciplin to save time for proactivity for our business as our environment demands RE-activity.

Today blog has two missions.

1) To TEACH you a way to SELL more to clients by giving you a SIMPLE POWER TOOL to get it done.

2) By showing you the tool, I will exposes you to the tool – Yes, I will expose you to a sales pitch – you are going to love it. Because you can use it and it will make things happen in your company.

Sometimes my customers cannot find the motivation to actually get something done.

As a coach, I help them.

One of the really powerful tools to use, is good old fashioned math.

As peoples people we do not often look to math as a tool. At the end of the blog you find a link to a tool you can play with, print and hang on the wall as a reminder of how to look at things.

So,

Here is the situation;

You have a process, that you know, could probably run more smoothly. And time could probably be saved. Maybe even a lot of time. However, you know, you need to invest time into the thinking process to find way to the optimizing.

You are really busy working with your customer. You have tried to work on the process, however, you constantly get interrupted and delayed by other things needing your attention.

You need (or wish for) a short cut. The really good thing about short cuts is that they are REALLY saving you a lot of time/mistakes etc. You pay for the know-how and the shortcut. So a short cut is an investment.

Let’s say, that you can buy a short cut to optimize the process  – and this short cut can save you SIX (6) minutes every time someone at your company runs this process.

Let’s pretend it is the process of sending out a welcome letter.

The Welcome Letter Process

All DSPs send Welcome Letters. Let’s say you could save 6 minutes on the process of sending out the welcome letter, if you changed the process.

Here is the Math

  • Save 6 minutes per welcome letter
  • on 5 welcome letters per day
  • That comes to 115 hours per year – if you work 230 days per year
  • How many weeks of work is 115 hours in your company?
  • Now take the average hourly cost rate of your staff  – in your currency
  • and multiply with 115
  • What does that amount to in your currency?

(find the tool to your own calculation below)

Let’s say your cost per hour is € 20. This means a total amount come to € 2300 per year ! ! ! ! ! !

That is what you waisted last year. And every day, you do not change this, you are adding to that account.

If you are throwing that money out the window on an annual basis on one process, I wonder, where else could money be found….?

So, do you think it would be worth it to invest in a Short Cut ?  Today?

That’s where I come in. If you call me today, you are on your way.

During the 5 year I have worked as a business consultant for DSPs, a lot of DSPs have already benefitted from my skills. What are you waiting for?

Send me an email and lets talk helle@herstad.dk

Now; for your Costumers

Find inspiration above. Measure you sales when you use this technique.

At the end of the blog you can find two tools you can use to play.

This can be very motivating for staff to look at. When they understand how much impact 6 minutes can have on the company earnings, they may give it more thought.

But it is a very powerful exercise to make with your customers.

  • What time can your customers safe by working with you?
    • Show them the math
  • Time saved in your customers office can become your competitive edge – reason: Time saved is Money earned

Download

Download excel sheet to use for fun at that at the office – You may have to create an account to get the download
save 2 minutes

 

With this I leave you to have a great weekend.

If you like the blog – don’t forget to comment.

Smiles,

Helle

PS . Observations for the calculation.

In small companies it is even more important to optimize process as the percent of the saved time has larger impact on the efficiency.

When you use average hourly cost rate of the staff, remember to take the ACTUAL cost for the company. In DK the cost of one hour is hourly wage rate agreed + 30%  – due to insurance, holiday funds etc.

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