There are plenty of ways that an employees can calculate what their time is worth based on mathematical formulas. But as a business owner, the formula becomes a little more complicated. Once you have determined the value of your time, you can make choices about the things you are doing in your business, and if certain tasks are worth doing yourself or having someone else do them.

Using the Realized Income Methods to calculate the value of your time, you need two numbers:

1. The amount of time you spend to earn money.
2. The amount of money you earn during that time.

Once you have calculated the value of your time, you can then be better informed on making decisions like:

Should you take the non-stop flight and save two or three hours, or do you take the flight with a stopover (wasting an hour between flights) and save $100 on the cost of the ticket?
Should you pay someone $20 or $30 to line up for you at the electronics store customer service desk, or should you spend several hours on the telephone dealing with customer service?
Should you spend two hours working with a customer that will pay you $1,000 immediately (if you get the work), or spend a day working on a new business concept that could potentially generate $10,000 or more over the next year?

To learn more about the value of your time, be sure to visit James Clear’s website https://jamesclear.com/value-of-time.

The writing of our blog on this topic was inspired by some calculations done by one of our serviced office tenants who calculated that he saved his business several thousands per year by them not having to manage his office and take on the responsibilities that come with operating a functional office environment. He looked at all the large and small (but time-consuming) chores that came with operating an office space.

Let’s start with the large chores when setting up an office:

Hours spent looking at and choosing office furniture
Hours spent with contractors setting up the placement of walls and utilities
Hours spent researching telephone systems and dealing with sales representatives
Hours choosing office equipment such as network printers, photocopiers and fax machines

Those might sound like small tasks, but when you add up the time you spent planning your office, you should know how much time you have taken away from keeping your business going. By using an office business centre that is already set up and ready to move in, those tasks are no longer your problem.

So what about the day-to-day operations of your office? There are tasks that are not worth your time and better left to the operational experts of a serviced office facilitator.

Do you really need to spend your time being bothered with having to call the photocopier company about maintenance of the machine, or having to monitor it to see if you are low on toner?
Do you really need to spend your time dealing with an Internet service provider when you have a problem with your connection?
Do you really need to spend your time in hiring and managing a live receptionist to answer your business phone calls and greet your company visitors?
Do you really need to spend your time worrying if there is enough toilet paper in the restrooms, or if there is a fresh pot of coffee ready for you, your staff or your visitors?

There are plenty of other administrative tasks that are not worthy of your time – time that you can spend selling more to new customers or servicing existing clients. This is why most office business centres like Telsec offer secretarial and administrative tasks on an a-la-carte basis. This also means not having to hire administrative staff and calculate or justify their value to your business.

This week’s blogs will be about time management, including “Time Management Tips for Inbound Phone Calls” and “Time Management Tips for Outgoing Calls.“

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What Colour Should You Paint Your Office Space?

18 King Street East Suite 1400
Toronto, Ontario
M5C 1C4 Canada
416-574-1112

18 King Street East Suite 1400
Toronto, Ontario
Canada M5C 1C4
416-574-1112

Site Designed By Giant Shoe Creative.

Our Amenities

We are by far the most experienced and best coworking team in the market – established in 1980

We are the highest Tech centre in the market

We have a very modern, high quality, brand new facility located at:

18 King Street East, Suite 1400

Toronto, Ontario M5C 1C4 Canada

- 18 King Street East is a boutique Class A building – East of Yonge: easy street parking, less traffic, excellent restaurants and lovely parks – St. James Park @ Church & King and Berczy Park @ Wellington East, Scott and Front Streets – Very high energy and engaging area
- A few steps (a few seconds) to the Yonge Street subway/underground PATH network and streetcar available outside building
- Building is located in Toronto's vibrant financial district
- Plenty of parking available in the area including street parking and reserved parking in the 18 King building
- Adjacent to the building huge outdoor food courtyard - Beer Bistro www.beerbistro.com and Craft Beer Market www.craftbeermamrket.ca restaurants and bars with onsite catering services
- Onsite amenities: Tim Horton's, Beer Bistro, Convenience store and Starbucks across the street
- Nearby amenities: underground PATH network, numerous restaurants, banking, Starbucks plus a wide array of nearby shops and services
- New modernized office layout fully furnished with meeting spaces and training rooms plus café lounge area
- We are leaders in the service of training/meeting rooms with full conference facilities, high quality hot and cold catering
- Largest training room and conference facilities accommodate up to 60 people classroom style
- Ultra-high-speed - 1 GIG pipe = 1,000 x 1000 fiber-optic network, which will deliver internet connection speeds faster than most North American services
- Private shower room
- Indoor Reserved Parking at the current building rental rate
- Bicycle parking
- Rent a space to accommodate your team for meetings, training sessions, corporate events or coworking space or flexible office space for one day, one week, one month or one year, or whatever term suits your business
- Telsec has over 650 locations in 40 different countries worldwide available for their clients. Office clients receive up to 8 hours of meeting space per month at no charge at any ABCN member location. Plus, Office and Virtual Office clients may rent a space from any member location at special member rates which varies depending on the location
- King Edward Hotel is located across the street - recently completed a $40 million renovation and boutique hotels close by within walking distance

Dining and entertainment at high quality restaurants only minutes away – Carisma, Terroni, Woods Restaurant & Bar and Michelin Rated - Restaurant 20 Victoria. Plus numerous lunch and takeout eateries nearby

Please check out our 70 second video on our home page or click here:

Take a look at our facilities www.telsec.net

Telsec will Customize Your Client’s Office(s) Layout to Meet Their Requirements.

You are welcome to drop-in any-time, a quick call would be appreciated to ensure our availability Vanessa 416-574-1112 or Josie 416-606-4349 or e-mail josie@telsec.net.

What is your time worth to your small business?

Looking to Learn More?

What Colour Should You Paint Your Office Space?

Time-management tips for inbound business phone calls

What is your time worth to your small business?

Looking to Learn More?

What Colour Should You Paint Your Office Space?

Time-management tips for inbound business phone calls

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Our Amenities