When I was coming up through the leadership ranks my Director of Finance scheduled a 30-minute meeting for me with our company’s CEO. Like any good leader, the director and I then had our meeting before the meeting.
She asked me how much I thought the CEO made annually in compensation. I thought about $150K. She said, “Plan on $1 million + stock options.” Knowing I was green, she then walked me through a simple mathematical formula.
She asked me to take $1,000,000 and divide by 2080 hours (40 hrs per week multiplied by 52 weeks). To give me a sense of perspective, she noted our CEO made at minimum $480 per hour but his time was worth far more.
The point she was making was my 30 minutes with him needed to generate a minimum of $240 of value to be worth his time. She added if I wanted a second meeting with him I needed to generate more than that amount. On the other hand, if I did not generate $240 of value, there would probably never be a second meeting.
Since my initial meeting with our company’s CEO 30 years ago, I have made it a point since to exceed what I perceive a person’s time is worth. I want meeting with Brian Dodd to be a good use of someone’s time and a true value-add.
Time is a person’s most valuable resource. It simply cannot be replaced when gone. This is why there is nothing more disrespectful than being late to a meeting or appointment. What you are saying is your time is more valuable than theirs.
Therefore, a person’s time must be honored and stewarded well.
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