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First things first... I love going to Costco, and have been a member for many years.
But last week I drove past one that included the Costco gas station (I didn't need gas), and couldn't believe how long the line was at each of the pumps! You can see from the pictures I took (above and below) that there were at least 10 cars in each line, to the point where the cars were starting to line up in the street.
From doing a little research online, it seems that Costco prices are certainly cheaper than neighborhood gas stations, but only by 5 or 10 cents per gallon. So, maybe customers save a couple of bucks (literally), but have to wait in line for potentially 20-30 minutes. The question is, "How much is your time worth?"
I like to motivate people to use their time wisely and to make smart decisions for themselves around the issues they can control. In fact, when I was invited to be the commencement speaker years ago at my alma mater (James Madison University), the underlying theme of my comments to the members of the graduating class were to use their time wisely. Here is a small clip of what I said to them:
"And if you were to go back and ask that person what is one thing they wish they had more of, I can guarantee you that it wouldn’t be money, it wouldn’t be some material good, and it wouldn’t be power. To the person, I bet they would say they wish they had more time. Time to spend with you, time to experience the world more, and time to give back. Nobody goes to their deathbed wishing they had worked more – they always wish for more time."
One thing that COVID has reinforced for me is the value of time, especially when it comes to ensuring we CHOOSE to spend our time on things that are important to us and those close to us. And although I really do love Costco, saving a couple of bucks is not worth 20-30 minutes of my time. And I imagine the same is probably true of everyone who was in that line, but they instinctively waited in it because of the cheaper price. But when you think about it, that "cheaper price" actually comes at a high cost.
Justin Constantine is an inspirational and motivational speaker who speaks (live and virtually) to companies, nonprofit organizations and universities of all shapes and sizes. He focuses on the power of change, teamwork, resilience, that it’s okay to ask for help, and that you are stronger than you think you are.
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