What's your time actually worth???

From the professional automotive standpoint you'll always be upside down. Your time will always be worth more than your able to be compensated for. I spoke with my accountant recently and we looked at several similar businesses and they've always "just gotten by". Automotive repair and aftermarket unless done on a large scale is never a big money maker when compared to the risk, investment and effort required. In other words you'll never be well off working on cars unless you own multiple shops.
 
My time is worth a lot. I pay someone to mow my lawn and am happy about it! As for the rest, I do it myself since I have not found that money tree yet. And I get the satisfaction of knowing it is done right.

With regards to helping others, I am more that guilty of dropping everything and doing things for other people without seeking compensation. Usually the other party does not have the means to pay a shop to get things done or the time commitment is large and that means it would be costly.
 
Ron said:
For me it has flipped as I have aged.
When I was young and new in my career money was very tight and time was plentiful. I did everything myself.
Now money is more comfortable and time is more precious than diamonds. Most things I farm out. I also see the benefit of getting professional quality and building relationships with the vendors that may pay dividends in the future.
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This is pretty much how it is for me now as well.


The initial experience wasn't worth the time for the end tangible product but the newly learned skill and knowledge gained was worth every penny.

Now that I have way more projects and extracurricular activities, I'm starting to pay people more for work rather than doing it myself. I'd rather spend the time with the family. Hell, I changed jobs and parted ways with ECORS for the family, not to change out brakes on the truck, weld tube on the buggy, or wire up a radio in the boat. Leave that to the professionals. :)
 
At my shop I charge a fair rate for exceptionally great axle work.
I have learned over the years that value is way more important than price. It's not about what you pay, it's about what you get in return.
Others may be cheaper, but I don't lose customers. On the contrary, I tend to gain them from the ones who'll do it "cheaper"
 
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Jody Treadway said:
At my shop I charge a fair rate for exceptionally great axle work.
I have learned over the years that value is way more important than price.
Others may be cheaper, but I don't lose customers. On the contrary, I tend to gain them from the ones who'll do it "cheaper"
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I think the expression is "The bitter taste of poor quality will long after the initial sweetness of low cost has worn off."

And I'll disagree with your "fair rate". In my experience you charge an average quality rate and deliver exceptional service. I think that = cheap in my book. Because the worst of both worlds is to pay someone else to do it and then have to still do it yourself. Aint that right @shawn.
 
Ron said:
I think the expression is "The bitter taste of poor quality will long after the initial sweetness of low cost has worn off."

And I'll disagree with your "fair rate". In my experience you charge an average quality rate and deliver exceptional service. I think that = cheap in my book. Because the worst of both worlds is to pay someone else to do it and then have to still do it yourself. Aint that right @shawn.
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You neglect to add in the additional cost of a full rack of blueberry chipotle ribs and 3 sides at 12 Bones.
 
nom nom nom...making my mouth water just thinking about it.
 
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