| Hiring a concierge service or personal assistant | | | | These are all tasks that a busy executive can |
| can give you more of the most precious resource | | | | outsource to a professional personal assistant. It |
| - TIME. Business executives, by nature, are busy | | | | should be time-management 101. |
| people; company meetings, sales conferences, | | | | The average cost of hiring a personal assistant is |
| business reports, management duties, delegation, | | | | $65/hour. When considering if this is worth it you |
| training, and other duties take most of their time. | | | | should consider the opportunity cost of a high-paid |
| Even with the greatest time management skills, | | | | business executive doing these types of menial |
| there is still not enough time in the day for them | | | | tasks. Let us say that a business executive earns |
| to do what needs to be done. Concierge services | | | | $200/hour. That means that his time is worth |
| and personal assistants are trained to do their | | | | $200/hour as well. It is the same as him paying |
| menial, day-to-day, tasks with professionalism and | | | | himself $200 each hour that he does these duties. |
| competence. | | | | If, on the other hand, he can hire a concierge |
| Take the following sample list of chores that a | | | | service to do the same work for $65/hour then |
| personal assistant can perform and think how | | | | it is worth it. The opportunity cost in this example |
| much time a busy executive can save by having | | | | is $135/hour (The difference between what his |
| a professional do them for him: | | | | time is worth and what he can pay someone to |
| Making travel arrangements | | | | do the work). Not only would this business |
| Booking conference rooms for meetings | | | | executive create more time for important |
| Household management | | | | business tasks by hiring a personal assistant but |
| Event Planning | | | | he would also create more time for himself - |
| Buying gifts for birthdays | | | | time, a precious commodity that he can spend on |
| Car washes | | | | the more important things in life like friends and |
| Administrative office work | | | | family. |
| Filing | | | | Hiring a concierge service or personal assistant |
| Pet care | | | | can be well worth the investment. Even corporate |
| Dry cleaning | | | | concierge is available if you want to hire a service |
| Last minute courier deliveries | | | | for your company. |
| Grocery shopping | | | | |