Value of Your Time

We are not hiding the fact that we are building Colony Workplaces on a tight budget.  As a matter of fact, we are rather proud of how we manage our finances.  But some financial shortcuts aren’t always the best decision.

We are not contractors or knowledgeable laborers so we are learning as we go.  So when I saw that the cheapest paint was half the price as the quality paint, I didn’t even blink, I went to save $50.  The paint job came out great, but we had to put three coats on, not one or two coats of the good paint. We did not value our time, which was a big mistake.  Saving $50 has cost us several hours of our time, which is valuable.  Not to mention, the sooner we complete the painting, the sooner we can open.

How do you value your time? Do you want to move into traditional office space because the cost per foot appears to be low?  Only to find out that you have to prep and furnish the space? What looks cost effective on the sticker price, could cost you more in the long run.

On the surface, the cost of serviced workspace might appear to be high, but when you consider what it takes to manage the space, you have to ask yourself what the value of your time is worth.  If you are a $300 an hour consultant, do you want to move into office space today and get working tomorrow or do you want to spend a month furniture shopping, painting and unpacking?  Do you want to wait for the cable guy or the furniture delivery?

Coworking spaces like Colony Workplaces are popping up all over the country.  Flexible terms, furnished, wired and managed.  The cost per foot might sound like a lot, but when you take into account all of the associated expenses, and your time, you will see that this is the best use of your time.