What Mowing the Lawn has to do with Your Podcast Losing Money
If you’re in the northeast United States, you know you need to mow pretty much every week in the summer. Well recently due to rain, lack of child care, and travel, i didn’t get mow my lawn for nearly 3.
So one day, I set out to mow the very long, still kind of wet lawn. On top of that, I had to weed wack1, and take a hedge trimmer to some overgrown bushes. It was shaping up to be a big job. Something that normally takes an hour took basically all afternoon.
And because I was choosing yard work over billable work for my business, that afternoon cost me about $750.
Opportunity Cost
It was a big job. One my lawn mower couldn’t handle. Grass kept getting stuck in it. I kept having to stop and start. Weed wacking took forever. And I’ve never trimmed hedges before.
I could have paid someone far less to do faster. This is known in economics as opportunity cost. What was the cost of me choosing something I didn’t personally need to do vs. doing work that actually makes me money?
Most People Don’t See The Hidden Costs
If I hired someone to mow my lawn, they would have had better equipment to mow, weed wack, and hedge trim. They would have had more experience and therefore more skill to do the work quickly and efficiently. And they would not have charged more per hour…