What is Your time worth?

One of the lesser known services available as an alternative to travel is video conferencing room hire.  The Chorus Call offices have video enabled board rooms that are listed on various local and international aggregator web sites, as well as promoted to our local community and customers.  Chorus Call Australia also linked up with many local and international room hire agencies to provide a single point of contact for room rentals around Australia and the globe.  With Australia suffering the “tyranny of distance” (Anyone who has done the LA or London flights knows exactly what I am talking about) the option of renting a board room and having a high definition video conference is very attractive.

Lets look at the economics of the decisions.  Renting a site in Los Angeles will cost about $250 per hour, with the same cost here in Australia. Remember to always look for IP transmission capable rooms and the cost of transmission should be included in the cost of the room.   If your meeting goes for 2 hours, total incremental cost of the solution is $1000.  On the face of it this looks a bit expensive, but people forget to look at the opportunity cost.  Sure your economy return airfare to LA might only be $1500 to $2000, but how much is lost by the 26 hour return flight?  How much is your time really worth? What could be accomplished as an alternative to the travel?  Even at minimum wage it more than pays for the cost of the board room rentals. This doesn’t not even touch upon cabs, accommodation, meals etc...

If you can hook your business travel up with some fun in the sun or catch up with friends, great. If it is one of those meeting that has to be face to face, then so be it. The reality is that only those who don’t travel think it is glamorous.  Mostly its airports, cramped seating, bad food, time away from family and cold hotels.  We have many customers who have progressed from flights to renting  video room, to now buying their own video gear. Clearly, they have put a value on their time.

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