What’s Your Luxury?

crownOne of the current exhibits at the V&A museum is ‘What Is Luxury?’ And I am fascinated by the concept of what we would each constitute as luxurious.

Maybe it’s about investment of time as much as money. I know that for me, time to myself is an incredible gift. As is spending a small fortune on a dress that I might wear four times. Or it might be the incredible skill and expertise in the creation of a gold pocket watch. We often think of luxury as being expensive and it often is, but it is relative to our earnings, background, ethics etc. What I perceive as luxurious will be different to yours but that doesn’t make it any less or more valuable.

In business particularly, time is also a currency of sorts and can be very expensive! Think about the amount of money that a meeting costs in terms of staff salaries, room hire, catering….let alone the time that could be spent on other aspects of work that directly generate income. So are we getting the maximum benefit from our time? Is wasting time a luxury that we can’t afford?

Perhaps it is but I would argue that what might be perceived as wasting time for one is a productive informal chat with a colleague whilst making a cup of tea. So it becomes about how we value our time and manage it as a resource that has a cash value against it. Think about what is most important to you. And how much time do you spend doing that?

And remember that it is not just about what you spend your time doing but are you the best person to be doing it? Is it your strength? Is it your interest? Perhaps there is someone out there who can enable you to focus on what you are good at by looking after the stuff that you don’t actually need to do. Those tasks where you don’t actually add any value but it costs in time that could be spent on delivering your product or service.

It might even feel a little luxurious to be building a team, or handing over the accounts, or letting someone help you with your admin, but what is the cost of not doing it?

Claire Eason Bassett, Managing Director, Mackerel Sky Events

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