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The True Cost of Software

Here’s how to calculate the true cost of a software product:

  1. make an assumption about your hourly fee (this is essentially what your time is worth and can include opportunity cost for lost time)
  2. make an estimate for the total hours spent you waiting for that software to load, to reboot etc
  3. make an estimate for the total hours you spent trying to understand how the software works
  4. purchase cost of the software

True Cost of Software

=

(1.)*(2.) + (1.)*(3.) + (4.)

If (4.) is the smallest component, start looking for a new software.

Your time is your most valuable asset


*a big thank you to Adobe for inspiring this post.

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