As we all know, attorneys sell their time by the tenth of an hour time their hourly rate. Lawyers have to be sensitive to the level of work they do to charge their client $250 – $500 per hour. If an associate can do the work, they delegate the task and bill the client a lower hourly rate. They do this so the client does not get an obnoxious legal invoice from the law firm and terminate their “too expensive” relationship immediately.
Business owners that I coach, I ask them to review their daily tasks. I want them to decide if the work they are doing is worth $250 per hour.
Every Hour of your time, as the president is worth $250 – If, as the business owner or president, you are doing stuff that you could pay someone $10 or $20 per hour to do, you are wasting $230 to $240 per hour for your time.
It requires discipline to do this because some of us enjoy doing tasks that are “brainless” which gives our mind a chance to relax during the day. But, if you start being sensitive about how you spend your time by doing “Business Owner’s” functions rather than administrative functions, you will find that you will have much better-managed business in the future.
About the Author
Robert S. (“Bob”) Curry - Bob Curry is an Author, Keynote Speaker, Seasoned Business Coach, and successful Turnaround Specialist. Earlier in his career, he served as President and CEO of three different companies, the largest with annual sales of more than $1.3 billion dollars - all which experienced successful turnarounds under his management. After turning around three companies as the President/CEO, he started his turnaround consulting firm, and for the past twenty years, he has turned around more than eighty distressed companies in many different industries helping each to establish a strong management team and become profitable. He has published three books: "From Red to Black," "The Turnaround," and “The Turnaround 2.” He resides in Fort Lauderdale, Florida, with his wife, Esther.
All three books are true stories about the turnarounds of real companies that I have turned around during my career. In each book, I shared my (“PIR’s”) Profit Improvement Recommendations which helped turnaround the companies from Losses to Profits. PIR’s help to grow sales, reduce expenses, improve cash flow, increase profits, and most noteworthy, strengthen the management teams. All three books are on sale on Amazon.com in paperback, kindle, or audio.