April 18, 2012

Bulk view

Thinking about the time/money swap

I thought that once I went into business for myself, I’d do the same kinds of money vs time vs enjoyment calculations that other people have done, and I’d probably end up making similar decisions such as signing up for a housekeeping service, eating out more often, or having either meals or groceries delivered.

It turns out that even though I know that:

  • my time is worth $X-Y/hour
  • my earnings are flexible (I can work more hours and earn more money)
  • it’s possible to hire people to do some of the things I do for much less than X an hour

… I’m still pretty comfortable with doing many things myself. I think it’s because I enjoy those chores more than other people do.

For example, W- and I spent the Good Friday holiday doing our spring-cleaning. I moved my warm-weather clothes into my drawers and chose a few for donation. W- and I emptied the fridge and scrubbed the shelves. He made the glass doors all sparkly-clean.

Cleaning was social bonding time. We chatted, laughed, planned. It’s cheaper than therapy. I suppose we could hire someone to do it, but we would want to spend time together anyway, so it made sense to spend that time doing something useful.

Chores become fun when we do them together. Same with cooking. During our cooking sprints, the two of us chop and laugh and stir and joke. Picking up groceries is a good excuse to go for a walk together.

Because I get a lot of intangible value from doing these activities with W-, I’m not particularly drawn to the idea of outsourcing them so that I could spend more time on the business. I like the break from work, the space to breathe and play around with different ideas. I like the time we spend building relationships.

So yeah, it didn’t turn out to be a straight “I can earn $X/hour so I should outsource anything I can have done for much less than that amount” sort of decision. I’m happy to outsource accounting at least for this first year, and probably for later years as well – it can be complex, and I’m buying peace of mind as well as time. I’m investing more in tools that I like and webapps that I use. But I’m still looking for areas where I can practise delegation and management skills, and I haven’t quite found a good fit yet. No worries – maybe someday!