Welcome to the podcast cleaning nation. Today we have our mindset Jedi Tracey Thompson on to talk about a really exciting concept we are starting to talk more about called Mindset Math. Come learn about what this concept is, why it can be so valuable to you as a business owner and how to use it to your benefit.
A study was recently done asking working moms how much time they spend a week cleaning their house. On average, the answer was 23 hours a week. If you quantified this, it would be a great way to sell a busy mom next time you are on a walk through. 23 hours a week equates to 98.9 hours in a month which equates to 1,186 hours a year. Spent cleaning. If that woman values her time at 100 dollars an hour, that would be $118,860 worth of her time she would spend cleaning in a single year. Now all of a sudden, it doesn’t seem like such a stretch to pay you – the cleaning company- $30-$33 dollars an hour to clean her house for her. So that there is the power of mindset math. And then she can see so clearly what it is that she’s getting back in her life.
We can take this concept and plug it into our business as well. Lots of us are still cleaning inside our own business. And it can be hard to justify paying another person to clean in our place. It just feels like money out of our pocket. But when you really get clear on what generates the most money for your business- getting a sale, you start to realize that that is where you are really needed in order to grow your business instead of staying stagnant.
So, to play out this scenario, you would ask yourself, what is the lifetime value of a client? If you are charging them $400 per clean to clean their home once a month, and you times that by the amount you would make per year, the value of that client is $4,800. You quantify that by the time it takes for you to get a new client-maybe 30 minutes- and all of a sudden your time is more valuable that what you’re getting paid to clean.
Take this to the next level and do the math to figure out the value of one full time (25 hours is what we recommend) cleaner in your business. If they’re getting paid $16 an hour then that’s $20,640 and then times that by two for the typical amount you would be charging the client and that’s $41,280 of revenue that your business is bringing in just by hiring one cleaner!
Really makes you think, doesn’t it?