What is the price of productivity? How do you save money thanks to good organization and effective communication in a team? Check out how the founder and CEO of Nozbe calculates the costs associated with delays, lost information, misunderstandings in the team.
⭐️ Key things you will learn from this episode:
- Is time money?
- How much time and money can you save with a project management app
- What are the benefits of Nozbe, apart from the financial ones?
- More on savings through working smarter
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- Michael Sliwinski (@msliwinski)
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Read this episode’s transcript if you prefer
Welcome everyone to the next episode episode 52 of no office podcast No office because work is not a place to go. It’s a thing to do I’m Michael Sliwinski. I’m the founder of Nozbe and today we’ll be talking about time and about the worth of time. Is time worth money? Are you making money when you are saving time? This is going to be a little bit philosophical episode and it’s a solo episode. Magda is not with me today. She’s also busy promoting, not on Nozbe, but also entrepreneurship and just getting more organized because today she’s giving a talk to Lady Business Club. It’s a business club of female entrepreneurs and she’s helping them get even more organized, even though I know they’re doing a great work. So welcome here, welcome to this podcast. Let’s talk about time, money. And this comes from a moment where I where I was discussing business with a fellow entrepreneur and this person is also an owner of a product, of an online product, but he is selling a marketing tool. So he was telling me that, “Well, my software is really making money to my customers because I bring them prospects, I bring them customers. And your software, Not to be, it’s great and all, but it’s just, you know, it helps you manage your tasks and projects. And yeah, it doesn’t bring money. And after this conversation, I was like, wait a minute, like, is it really true? Like, isn’t not be really making money? Am I not really bringing lots of value to them? So, So it started with this. And this is where I wrote my essay “Time is Money” on my team /money. It will be linked in the show notes. And the thing is, as I was thinking about it, I remember me talking to customers, because I talk to customers, as you know. I spend like three hours a week talking to customers. I have dedicated time for that. And when I talk to Nozbe customers, very often they give me all these stories because they’re customers from different industries, from different backgrounds, and they use Nozbe to run their various companies. And the thing that happens is that when I was talking to one of them, he said, “Oh, Nozbe is no brainer, it’s just making lots of money.” And I’m like, “How is it making you money?” And he said that it was because they are no longer forgetting things. So they don’t forget about, you know, they’re in the service industry, they’re, you know, servicing parts and tools, and they said that they were forgetting things. They were like displacing the post -it notes, they were displacing things. People would not know which thing had to be done on time, you know, all that stuff. And thanks to Nozbe, they have everything in projects, tasks, and comments, and everything is written down. And there are deadlines, like their due dates, everything is well -organized. So it’s amazing that he was just telling me Nozbe makes him money. And of course, when you think about it, he must have been really disorganized in the first place. But many companies are, like when you think about all this communication that goes through these different channels, email, WhatsApp, messages, whatever. Yeah, when you think about it, yeah, this way of just getting more organized helped him make more time and also be on time with their service needs for their customers. So anyway, Let’s talk about time and money today. I have prepared a special presentation which will guide you through the whole concept. So let’s get with it. Time is money. We have a cool cover designed for this podcast by Pavel, Pavel, thank you. And let’s talk about this concept. So how much is your time worth? Let’s talk about that. So the minimum average minimum wage in the States is about $10. It’s $7.25. It’s just like the minimum, minimum federal wage. But as I checked the statistics of different States, it varies between States. So it is from $7 .25 up to $16 or $17. So let’s make it like you know, average minimum wage in the state. And then if it’s $10 an hour, so what happens if you save one hour in a month? So if just by sheer being a little bit better organized, a little bit better prepared, a little bit better, you know, laid out projects, tasks and comments. And if you get one hour back from all the, you know, I think it’s 168 hours in a month. You’re getting $10 back ‘cause you’re charging $10 for an hour and you’re getting, you’re paying for, you know, you’re getting the hour back, right? You’re getting $10 back. But as we have discovered at Nozbe that in the first month of using Nozbe, most of the companies are saving like an hour a week. And again, it’s not that much. Like when you think about it, there are 40hours. Like every normal work day, a work week is 40 hours. So if you just save one hour, because you’re more organized, because you know where things are, you don’t have to spend time to search for things, everything is there, you know, your due dates and everything, you’re getting 40 bucks. You’re $40 in a month. And this is in the first month of using a tool like Nozbe to get organized. So basically, if you can shave off just one hour a week, you’re getting $40, right? So, but it’s, you know, but this is for minimum average, minimum wage. And most of our customers are actually professionals, very busy professionals at that. So their hourly, you know, so the average hourly rate of a busy professional is at least $30. I checked the statistics is $30 or more and there are people who are charging much more like $50 to $100, you know, the programmers. So it’s like, but let’s say $30, let’s be conservative here. So if it’s that, then again, look at the savings. If you can save one hour just one hour a month you get $30 back It’s your $30 in your pocket 30 bucks and if you can save one hour a week Again one hour a week out of 40 hours in a week You have one hour and Then it’s hundred twenty dollars. It’s more than hundred bucks. So Basically, by being more organized, you’re saving money. You’re making money. You’re making $120 where there was none. So it’s really easy to understand. It’s really obvious. And there are much more benefits to that. And before I talk about benefits, I want to quote Sarah here. Sarah is one of our customers and she can tell you something more about how much saving time means to her, especially when using Nozbe. So let’s talk to, let’s listen to Sarah for a second. Once I started using Nozbe, that’s when we started to really think beyond like a freelance mindset to more of a team mindset. And the beauty of it is that we can have a remote team. So we could hire people based on their credentials or based on, you know, relationships that we had and people that we knew would be really good and didn’t have to hire based on location and somebody that’s within, you know, a mile radius, you know, something close to where we were. It also, Nozbe is very intuitive and easy for a team to use. So as we add new people, whether it’s a contractor or an employee to the team, We can get them set up within with no speed and within really an hour They can see projects and tasks that are assigned to them and start start working So most of our teams really taking those pretty pretty easily So what Sarah was saying was that Not only like it’s it’s about just day -to -day work that they’re more organized They have everything in the projects they can you know work people from even remotely from different parts of Texas or even entire states. But also what she says is that the onboarding process, normally the onboarding process, which takes lots of time when you hire a new person, has been reduced because they get onboarded to Nozbe, they see all the projects and they are mentioned in some of these tasks in these projects and they can already get up to speed, they can quickly browse the project, see what’s going on, see what they’re responsible for, and just get to work. And again, it’s saving hours. It’s saving hours of time, which is actually making the money, because what it means is that the employee starts being productive, starts generating revenue as soon as possible, as soon as they’re on board it. And we all know that when, I mean, it’s like, you know, everybody knows that if you’re onboarding a new person, you know, before they can get up to speed, it takes months until they start regenerating money, making revenue for you. So really, by having things organized, you are saving money and you’re saving time and you’re making money. So but it’s not it goes beyond that because it goes beyond the monetary figure It goes beyond the ten bucks that you you save so box basically makes Nozbe for free Which we’ll talk about it in a second, but saving an hour a month. It’s just the beginning because when you get better organized You just feel like, you know You know where things are everything is, you know, it’s it’s just It just feels more like everything feels more professional, feels better. And then you’re also more in control. We are not in control of everything, but we feel like we are more in control, which gives us a piece of mind, which generates less stress because we know where things are, we know which project to find, where is the task, how to add a know how to get feedback from people, we know all that. So it’s really easy to do it. Which ultimately makes people just more satisfied in their job. Quoting Hamilton, you will never be satisfied, maybe, but you will be much more satisfied with your job. If anything is more organized, you have a feeling of control, you have more control, and you have less stress. This all shows that this is the way to go, to just start saving money, saving time and getting money in return, basically. If you really can make up, can shave off an hour a week, like four hours or more a month. What can you do with this time? And how does it make you more money? Well, in your business, you can just focus on acquiring more customers so you can find ways to get new customers, more customers. Or you can improve better service quality. Or you can just be making things faster for the customers, being more on time. There is this saying that everything we do is cheap, fast, and great quality. Pick two. Because if it’s cheap and fast, it’s not good quality. If it’s cheap and good quality, it’s not going to be fast. And if it’s good quality and fast, it ain’t going to be cheap. But if you’re more organized, if That can shave off a few hours a month because you’re better organized. If you can gain time, you can make money with the time that you gained. You can focus more on quality, which you know you can charge more, more customers, you can charge more people, and you can do more time, you know, more on time, which means, again, more customers, recommending you to others, which is a key right now to just get recommended. So really, this is the way. This is shaving off time by being more organized, really makes you money, is tangible money. And speaking of money, I’m going to take another break here and then tell you how you can get a few bucks also for your Nozbe. So let’s hear this quick ad for Nozbe. Thank you for being an amazing listener of the No Office podcast. Every other Wednesday we meet to talk about productivity and hybrid lifestyle because we believe that work is not a place to go. It’s a thing to do. A special gift only to No Office podcast listeners. When you sign up for Nozbe using this link, Nozbe .com /podcast. You’ll get 30 bucks of credits, which you can use to upgrade to Nozbe premium. Nozbe helps thousands of smart business owners and their teams get their professional and private life organized in a single app in a simple way. And Nozbe is free for up to three active projects and three people on your team. So start today and claim your free bonus credits, which you will later need to upgrade to unlimited projects. Once again, thank you for being an amazing listener. Thanks for your support and for spreading the word about our no -office podcast and Nozbe. See you and hear you in the next episode. And in the meantime, claim your bonus credits here. So again, nozbe.com/podcast, you can claim your 30 bucks. So speaking of money and time, you claim your 30 bucks. With the 30 bucks you can extend your premium account and in a few weeks there will be a special Black Friday offer because of course we’re doing a Black Friday promo as everyone else is doing. We’re also doing it. It’s a, let’s say, it’s our yearly tradition. All of our Nozbe customers know it every year that if they can wait to extend their Nozbe account. On Black Friday, they can get a special offer, so make sure to check it out. All right, so another thing I wanted to mention is that this year I have discovered the hard way that it’s the concept of iteration. So the moment you start iterating, like start improving something, you find more improvements. And the same goes with saving time. So the moment you start using an app like Nozbe and you save your first, let’s say first hour in the first month, then you save two hours because you start doing things better. You start better using projects, tasks and comments. Suddenly like in the third month, you discovered that there are templates so we can start using templates in Nozbe so this way you can just automate more things. Then you start to use more recurring tasks, then you start onboarding more people to Nozbe because you decide you see you work with more people or maybe you get your subcontractors using Nozbe by joint projects. Like the more you use a tool, the more you discover, you can save even more time to get more money, to generate more money. So it’s really just the, this is like this, start the wheel spinning, that when you see that you’re making, you’re saving money, you’re saving time and start making improvements to the way you work, which translates in real money, which translates in more revenue, more revenue opportunities, as I mentioned. So it’s like, it compounds. So every month, you’re going to be more efficient, you’re going to be working better, you’re going to be working with less stress. And even if you grow, I mean, when you grow, because it’s actually, you will grow because you will be making more money, when you grow, you will discover more opportunities to save more time. And this way, again, grow more and generate more money. This is a, it’s really a cool phenomenon. I can see that with us here in this podcast, recording this podcast. Way back when we were recording the episodes of this podcast, we spent lots of time, we invested lots of time in setting everything up. Now, it’s semi -automatic, everything. For me, preparing all these things, the presentation, and preparing myself for the podcast, recording the podcast, just alone or with Magda. With all that, it’s just easier and gets easier with each iteration. And I can report that our podcast is spreading, which is good. We have more listeners than actually previously, so we are really happy. And please like, subscribe, and send our podcast to everyone else. And especially this episode, I encourage you to send it to people to make them think about their tools, because as professionals, as people who are using tools like Nozbe and other tools to work, let’s not calculate them as really costs, because when you think about it, they are improving your life so well, and I’m not talking about artificial intelligence yet, I’m just talking about all these things of just Having things right when you need them having your tools the way you want them You know having your projects organized the way you like them having your templates the way you use them is just It’s it’s it’s again satisfaction happiness and just sense of of control And it’s money so Just again, I want to just show you the maths because the maths checks out really here. The cost of Nozbe is 10 bucks per month for a Nozbe premium and 15 bucks per month for Nozbe business. And Nozbe business gives you an opportunity to have several workspaces. So you can actually, in a bigger team, you can divide workspaces between different departments or you can just, you know, structure weight, structure everything the way you want. So it’s like 10 bucks And I’ve seen for business, and now, again, if you have a minimum wage and you just get out of Nozbe, one hour, one hour per month, Nozbe’s for free, ‘cause it’s 10 bucks versus 10 bucks. So you spend 10 bucks to get 10 bucks. So basically, Nozbe hasn’t cost you anything, but the further you get, the more money you’re making, because if you’re earning per hour, like $30, so you get 20 from Nozbe, basically, because you’ve spent 10 on Nozbe, and 20 has been given you by Nozbe, by getting things organized, and projects, tasks, and comments. And of course, if you’re earning like four hours a month, if you can shave off four hours of each month by being more organized, it’s from $30 to $100 or beyond $100 of pure profit, of pure money in your pocket. Again, by saving time, you’re getting money because in the time saved, you can use it to generate more revenue, to have more customer outreach, to do more things, to make more business. So, really, time is money when you think about it. It’s so true. So, I don’t know, maybe Nozbe is too cheap. Well, the price, I think, is very reasonable for Nozbe right now. And again, if you use our link, Nozbe .com /podcast, you get $30 of credit for Nozbe premium or business. And then on Black Friday, I encourage you to check our offer because it’s going to be great. And this way, you can even, you know, get more money from Nozbe. But most of all, it’s like, I’m wondering how I should be, you know, advertising Nozbe to people, especially to professionals and to business people. Because I disagree with my friend whom I And in the beginning of this podcast, that Nozbe is not making money. That his tool is making money, but mine is not. I think I really believe, and that’s why I’ve been doing this for the last almost 18 years now, I run Nozbe because I really believe that this tool helps people, helps, as I mentioned, helps smart business owners and their teams get their business and private life organized in a simple way and it’s in a single app. But by doing that, it makes them money. It buys them time. And time, when you think about it, time is priceless. It’s just priceless. But here, even if I mentioned the math, I think it checks out. I think it’s great. And I think this is the way. So, with that, today is a shorter episode. I just want you to think about Nozbe and about other tools that you’re using to generate money. And how can they save you more time? How can Nozbe save you more time? How can other things save you more time to generate more time for you to generate more revenue for you, to generate more money for you. So please let me know in the comments, in the comments to this podcast, please share this podcast with your friends and comment on the value of your time, on how much money you can make if you save more time. What would you do if you had more time? Think about it and let me know in the comments, please also if you have comments to me directly send them on social media or below this video or just send them to support@nozbe.com and they’ll be forwarded to me. So think about it. Think about how much is your time worth, how much money you can make more if you had more time, if you can get more time. And Hopefully, Nozbe, our tool, can help you with that, can help you make time and make money in the process. So, thank you so much, and see you in two weeks in another episode of NoOffice podcast. And remember, in November, we’ll have a special Black Friday promo for Nozbe, so stay tuned and use our link Nozbe.com/podcast. Thank you!
