How Much is Your Time Worth? – Unexpected engineering lessons from “The 4-Hour Workweek.”
Posted on October 15th, 2009 by Masha PetrovaLast week I had a typical conversation with a potential client. After the engineer described a problem his company was having, the conversation went something like this:
Potential client (PC): “Great! You do have an impressive background and you’re right – we have a lot of gaps that you can help us fill.”
Me: “It helps to have a pair of expert eyes look over your R&D processes.”
PC: “That makes sense. We worked with consultants before and were amazed how much time they saved us! How much would your services cost?”
Me: Describe various services. Give a range of very reasonable prices.
PC: “Oh…well the budgets are tight, the economy is bad…no one has money…I think we will try to do this in-house…”
Me: “Haven’t you been trying to do this in-house for a while now?”
PC: “Well yeah, but the budgets are really tight…so we’ll try to do it ourselves… We’ll call some vendors, read some technical papers…”
Me: “How long do you think that process will take you?”
PC: “Well, probably much longer than if you were working with us…”
Me: “And how much do you estimate that time would cost?”
PC: “Well, since we’ll just be using in-house engineering time, it would not cost us anything.”
Me: “????!!”
