This post is only relatively about buying. It is about a thing that you CAN NOT buy – the time. How worried do you get, when you see your phone (laptop) battery running out and have no spare battery / charger / power source? For me every single percent on those moments is the worth of gold. Recently I had to make some decisions and evaluated time importance. I got slightly worried.
I’m 35. Say, i want to retire at 65. In such case, every six months of my time are worth 1,6% of the rest of my full career. Look at it from a different perspective. Every career has a maturity cycle. I would like to think i will be at my best all the way through to 65. Have you heard the phrase “statistically plausible, but highly unlikely”? Right. Let’s get back to reality. Say, I will be at my best until 55. That changes the value of my time: suddenly every 6 months are worth 2,5%. Every year – 5%.
Think about a business case you are writing. Pieces of equipment you are buying. Private equity investment you are consulting. Most of them have one or the other shelf life. Have you been in a sourcing project for a piece of equipment, which lasts 3 years when life expectancy (yes, for the piece of equipment) is also 3 years? For me that now sounds strange.
Time puts a very different perspective to everything. Sometimes, the worst thing to do is to do nothing. Not to make the decision. If you make the decision and it turns out to have been not the best – you can always fix it. You will never be able to turn the time back. Stop and think. It is Monday. How much can you do before Friday?