Time Well Spent
This entrepreneur turns his company's time into money--even when working for free.
Opinions expressed by Entrepreneur contributors are their own.
Reid Carr has nothing to sell but time, yet finds that giving itaway is sometimes best. Carr's San Diego company, Red Door Interactive,which had sales of nearly $3 million in 2005, sells web servicesbased on how much time each project requires.
That's a double-edged sword, says Carr, 29. Becausecustomers often don't understand the intrinsic value of anemployee's time, they expect too many employee-hours for theirprojects. On the other hand, when employees are idle, it costs RedDoor hundreds of dollars an hour in opportunity costs.
Continue reading this article — and all of our other premium content with Entrepreneur+
For just $5, you can get unlimited access to all Entrepreneur’s premium content. You’ll find:
- Digestible insight on how to be a better entrepreneur and leader
- Lessons for starting and growing a business from our expert network of CEOs and founders
- Meaningful content to help you make sharper decisions
- Business and life hacks to help you stay ahead of the curve