A difference in culture, the cost of time

bwagy

Ben Young, serial entrepreneur, speaker, author and founder of bwagy shares daily ideas on his blog in small digestible bites, aimed to make you rethink business, marketing and the world around you. check out http://blog.bwagy.com

Reflecting on my Time post from 2011,  one thing I’ve noticed in terms of cultural differences between the US and New Zealand is how time cost is viewed.

For private companies in the US if they can speed up time to a goal with money, they’ll do that.

In NZ it’s different people wait a little longer. Two sides of the coin.

time = money

You might infer that time is less valuable in NZ, but that’s not the case, it’s just different approaches to business.

The opportunity cost is less as the competitive landscape isn’t as deep. In the US, you have direct competitors, then indirect competitors who can launch in to your space overnight, you’re not fighting on 2-3 fronts, you’re fighting on a dozen.

Underpinning this the pay off is a lot larger, if you can make that move before others, you get a jump on the market.

I’ve found it quite curious and insightful, so thought I’d share for those I know on either side of the Pacific.

 
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