How Much Time Do You Have and What Is It Worth?
In previous posts I have written about the greatest value proposition private aviation brings to the table – time.
Have you thought about how much time you really have and how you want to spend it?
Time is for sure a finite resource we possess.
So, let’s propose that on average we may live 80 years on this earth. If we do the math and calculate our resource of time using the measurement of hours then we have 700,800 units to spend. Unlike other resources we possess these units spend at a rate of 24 per day whether we want to spend them or not.
Now, I am pushing 50 years of age; so, I have already spent about 438,000 units of my time resource. As a percentage of the average human allocation of personal time resource ,I have about 37.5% or 262,800 units of my time left here on planet earth.
Other interesting facts to bring into the analysis –
There is no guarantee that you or I will make the average. Some of us don’t get there and some of us exceed the average and none of us have much of a choice in the matter. We can take better care of ourselves, raising the odds of increasing the resource; but, we don’t have total control over it. For those out there who like to control everything that is a very uncomfortable notion.
The Bucket ListOne of my favorite movies of the past few years is the movie “The Bucket List” starring Jack Nicholson and Morgan Freeman. Two guys of unequal economic status find themselves in a similar predicament - both diagnosed with a terminal illness, struck with the realization that their time is almost up.
Most of you reading this have seen the movie; so, you will know what I mean when I ask the question: What is in your bucket list? Morgan Freeman’s character in the movie came to a realization at the end of the story that maybe the best use of his time was spending with the people he loved the most.
Can you understand the frustration people have when they are stuck in the airport terminal because of a flight delay or cancellation? I will bet you anything that sitting in the Chicago O’Hare terminal on Friday afternoon is not on anyone’s bucket list.
What I will tell you in this post and future posts through stories and different points of view is that the value proposition private aircraft travel brings is in the form of time buyback.
Why do business travelers use private aircraft for the travel they must do to grow their business even when it may cost much more? Because more than anyone, the savvy executive understands the value of his or her time. They know that they don’t have enough time in the day to get everything done under normal conditions; and, they certainly don’t relish the idea of wasting time sitting in an airline terminal.
What’s it worth to be home on Friday afternoon with the most important people (MIPs) in your life? What would you pay to be sitting with them in front of the fireplace versus sitting in the terminal building with a group of frustrated travelers who want to be home with their MIPs?
I look forward to the day when we , in the business of private jet travel, can make it more affordable for those of you who value your time.
