Quote:
Originally Posted by LiveMTTDegen
What sort of work are these managers and business owners do?
My father was a business owner and tells me that its bad to do this. With a net worth in the multiple millions I'm more inclined to listen to him. I did notice he spend most of his time talking on the phone and to customers in person. Most of the money he made was not from the hours of physical labour he put in but from passive income from the business. He most hated the paperwork and hiring a secretary like most business owners do he told me is just paying 40-50k a year when you can do it yourself 3-4 hours a day. He was often doing it after hours at night since he was working on other projects as well at the time.
Other businesses similar to his size hired these secretary's for 8 hours and like you say they are spending 4-5 hours a day just answering calls every 10 mins. He enjoyed answering the calls though.
If net worth is how you judge whether to listen to people's advice, how do you know who to listen to as you don't know most people's net worth?
Regardless, I think it's great that business owners talk to customers and are a true face to their business, but I also don't think they should be the ones answering the phone - not all calls need to be taken at that exact moment. There are only 24 hours in a day and you need to prioritise tasks sometime.
Hiring a secretary for 40-50k to do what would take you 3-4 hours a day means saving yourself c.800-1000 hours a year, probably more given everything else they do. I would expect that most business owners add more value doing stuff that isn't answering the phone and paperwork over those 800-1000 hours.