Posted on 04/04/2010 2:51:22 PM PDT by The Watcher
Wealthy people often hire people to do "menial" stuff for them. They hire accountants to manage thier taxes and savings and checking accounts. They hire nannies and butlers and chefs. Why? One, they can afford it, and two, often their time is far better used at generating income. Let's imagine that I help businesses improve productivity. I spend 3 days at a business's main location, and use my observational powers, gained experience, and "through much effort" gained knowledge, to improve how a business uses people, resources, even improve quality and manufacturing efficiency. To that end, I have to travel a lot, and when I'm 'working', I make $5000 per hour. I speed on average a week cultivating a client and for the average client, I make $40,000. Is my time better used finding more clients...Or mowing the lawn?
From a purely monetary point of view, my time is best served having relatively low-paid people do those tasks for me, while I concentrate on earning more. I might need the exercise of pushing around a mower, though.
Still, it's easy for you to understand how low-value tasks are best off being done by others with lower pay rates. So, why would a business hire me, at $1200/hour, to work for them? Only if what I do not only improves their bottom line, but improves it far more than it costs them.
So, what does all this have to do with insurance, you ask? Everything.
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