Entrepreneurs quickly realize that one of your biggest ways to measure the ROI of an investment isn’t the price of the product or service – it’s how much time you get back.
ROI 101: The Expensive Hair Dryer
She said it was $399.
My husband looked at me as she walked away to get it for me and said,
“Did she just say it was $399 for a hairdryer?”
I quipped with, “It’s not just any hairdryer, it’s a Dyson hairdryer.”
To give you some backstory: a colleague, client and friend of mine told me this hairdryer was one of the best investments she ever made in a beauty product. I believed her…
But – $399 USD for a hairdryer?! It seemed a little excessive in the moment.
Nonetheless, the coveted hairdryer left with me that day. It’s small and sleek, and it will leave much more room in my suitcase than the other one I had.
Here’s the best part… It works!
Not only does it work, it works so well and it ensures that the humid frizz I usually experience in Florida is gone. That means I can wash my hair every 3-4 days and that saves me an extra 15 minutes at least 3 days a week.
I could actually stretch it even more – wear a ball cap over the weekend and make it to 5 days.
Time is Currency
When the ROI and value isn’t just a quality product, but more time as well – it’s a no brainer.
This is how your definition of “currency” changes. No longer are you just “buying” and “spending”, you’re strategically investing. Time becomes your most precious currency.#Entrepreneurs, your definition of ‘currency’ changes. No longer are you just buying and spending, you’re strategically investing. Time becomes your most precious currency. Click To Tweet
The value of this specific hairdryer has more than paid for itself in its first month by giving me extra time. 45 minutes to be exact. And that adds up.
Sometimes the very thing you think is expensive is the very thing that will generate the biggest ROI on your time.
Time is a form of currency. What’s yours?Sometimes the very thing you think is expensive is the very thing that will generate the biggest #ROI on your time. Think wisely. Click To Tweet
Tell me below – what product have you used that’s given you back more of your time?
Founder and CEO of the Lisa Larter Group, master strategist, author, speaker, podcast host, social media expert, consultant, and business coach. Lisa inspires entrepreneurs and business owners to see the possibilities for their organizations when it comes to strategy. She uncomplicates modern marketing and creates (and implements) strategies for businesses that are guaranteed to increase visibility, inbound leads, and revenue.