Time is Money. Or how Nozbe is basically printing cash!

Last week, I had an interesting conversation with a fellow entrepreneur whose app is focused on marketing services. We talked about pricing, value and ultimately why people buy (or not) subscriptions to our apps. He pointed out that benefits of using Nozbe are not monetary unlike what he’s offering (bringing businesses leads that convert to revenue). After our conversation I was feeling confused. What about the old saying that time is money? Exactly!

• How much is your time worth?
• What if you can save an hour (or more) per month?
• What if you or your team members are skilled professionals?
• Saving hours per month is just the beginning…
• Saving hours and money means MAKING money!
• How much does improved productivity cost then?
• Is time really money?
• P.S. This essay in less than 1 minute?

How much is your time worth?

Hardly anybody works for free. You are being paid for your work. It might be a steady salary, a sum of all your contracts or other kind of compensation. One way or the other, you’re earning a monthly income and when you divide it by number of days in a month (without weekends) you have 21 working days. Multiply that by 8 hours daily and you’ve got 168 monthly working hours.

Minimum federal wage in the USA is $7.25 but it varies from state to state - in some states it goes even to $15 and beyond. For the sake of the argument let’s say an average minimum wage is $10.

Ten bucks per hour.

Now, let’s say you earn 10 bucks per hour or people that work for you are earning that. For each hour they work, you pay them 10 dollars.

What if you can save an hour (or more) per month?

This is the intangible argument for productivity. Let’s say you improve yours or your worker’s productivity so that they save ONE hour per month. You work more efficiently and the work that normally would take you 10 hours, will take you or your team members only 9.

That’s 10 bucks in your pocket.

What if you can save 1 hour per week? That’s at least $40 in savings.

And it’s true money. By working more efficiently you can take on more clients, you can produce more stuff, or do things with better quality because you have extra time.

What if you or your team members are skilled professionals?

Let’s say you’re not at the minimum wage. You and your team members are making at least an average salary, which according to Forbes is at around $30 per hour.

Now let’s get back to my previous example. Let’s say you save 1 hour per month, it’s like someone gives you 30 dollars. And if you save 1 hour per week, it’s $120 bucks. Hundred and twenty!

And let’s not mention all these skilled professionals who make $50 or more per hour! Saving an hour per month would give them 50 bucks and if they saved an hour per week, they’d be getting two Benjamin Franklins every month!

Saving hours per month is just the beginning…

Once you start working better, apart from monetary benefits, additional bonuses kick in:

• You’re more organized, so it’s just easier to find things.
• You feel more in control of your work which helps you focus on it and avoid stress.
• You feel more satisfied with your work, because you’re not wasting time on overhead and administration, which also ultimately means better quality overall.

But that’s not all, the savings compound:

• Once you’ve figured out a way to save ONE hour of time, you’ll see more savings in the next months and these savings will compound.
• The better you become at getting organized, the more natural it becomes and the less stressful it all is.

You and your team members are more organized, less stressed, much more satisfied and excited, and on top of it you’re basically saving money!

Saving hours and money means MAKING money!

Again, with more hours saved you can serve more customers or you can improve quality thus charging more for your work.

By saving time you’re making real money.

How about the cost of forgetting things? Some of my customers told me how crucial at their work is to deliver results on time. If you’re well organized, nothing slips through the cracks and the clients are always happy. This literally brings more business!

How much does improved productivity cost then?

Now, let’s get back to my argument from the beginning. Nozbe (my app) costs $10 per month for a single user. And if you pay a year in advance, it’s even less so, it’s just $8.

So if you’re making a minimum wage and thanks to using our app you’ve improved your productivity by ONLY 1 hour a month, my app is basically free for you. You gained $10 and you paid $10. And if you prepaid yearly, you’ll be making $2 by using Nozbe every single month.

However, a typical Nozbe user saves 1 hour per week thanks to having all the projects and tasks organized in Nozbe. With the minimum wage it means you’re gaining $40 per month while paying only $10 - that’s an easy 30 dollars that Nozbe makes you.

You get at least $30, month after month!

But what if you’re an average skilled professional and you’re making $30 bucks per month? With 1 hour per month saved you’ve got more than $20 in your pocket and with 1 hour per week saved, you’ve got more than 100 dollars ($112 to be exact). That’s right:

For a skilled professional Nozbe is making them 100 bucks per month.

And let’s not forget the added benefits of job satisfaction, better sense of control, less stress and everything else that comes with just being better organized.

Is time really money?

Yeah, I know it sounds kind of weird. But the math checks out. Even those earning the minimum wage of $7.25 will basically get an app like Nozbe for free if thanks to having their work organized in projects and tasks they can save a little over an hour per month. Even the lowest skilled people on your team will be making you money while using Nozbe.

That’s why I disagree with my fellow entrepreneur. Even though Nozbe is not a marketing tool and doesn’t bring you new leads, it makes you money. By saving time to you and your team members, it pays for itself already in the first month even if it only lets you save a mere hour of work.

1 hour out of 168 in a month!

I guess I need to start promoting Nozbe completely differently.

How about: Nozbe prints money!

Or is it too much? 😛

P.S. This essay in less than 1 minute?

Check out my short video that explains the concepts in this essay in a nutshell: