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Discussion Forum > Radio Programme: The Price of Time

How should we price services? By the hour? By results? Or by the difficulty of the task? And what impact does each model have on how businesses are run? In the first of a new series Evan Davis and guests look at the history of how we've priced our time and expertise and why this may be about to change.

http://www.bbc.co.uk/programmes/b050bhvc
January 29, 2015 at 10:05 | Unregistered Commentermichael
michael:

Really interesting topic you've brought up here. I wonder what model would show the most compassion to the hired while also building a sustainable profit for businesses. Or is everything all about results, regardless of effort or time invested? Perhaps the time we invest should be what is compensated? Our time after all, is the most valuable thing we have.
January 30, 2015 at 10:56 | Registered CommenterMichael B.
Perhaps the answer is along the lines of: One should be compensated for the time invested (regardless of visible effort), and one should do repeat business with those who get results. So, time is compensated, and results keep you hired. If the job you're doing takes 5 hours and you act like it's a great struggle, with lots of effort involved, and you get the result you've been hired to get, should you be paid more than the person who also invests 5 hours, does the work in a relaxed, perhaps even laid-back, lazy-looking way (at least to the busy-bee boss), and also gets the same result?
January 30, 2015 at 11:23 | Registered CommenterMichael B.
I think the question of how one prices one's services is quite a long way down the line. Before you can ask yourself that sort of question, you need to establish why you are in business, what your attitude to making money is, what the job itself means to you, how much you see your results as a public service and so on. You can't answer the pricing question until you have all that clear in your mind.
January 30, 2015 at 17:17 | Registered CommenterMark Forster