How Is No-Code Automation ROI Calculated? (Part 3/3)

In this article, we’ll discuss identifying quick wins, calculating ROI for your no-code automations, and exploring resources to keep your automations running smoothly. We’ll also recap the previous parts of this series, where you learned about Christine’s manual workflow, automation challenges, and how to build a Zapier automation.

Quick Recap

• Part 1: Christine’s automation challenges

• Part 2: Building a Zapier automation using Christine’s swipe file workflow as an example

Identifying Quick Wins: Opportunities for No-Code Automation

Automating small tasks is the best way to overcome friction if you’re new to the process. To identify potential tasks for automation:

• Complete the exercise from email #1 of this series

• Set a timer for five minutes and write down any tedious tasks that come to mind. (Duplicate this cheat sheet.)

Then, explore Zapier or Make to find the necessary software to automate these tasks (see the available triggers and actions in this Scribe Tutorial).

Evaluating the Investment: Time and Resources

Implementing automation requires an initial investment of time and resources. This is typically a barrier for most busy solopreneurs like yourself.

But, it’s important to view automation as an investment. Trust me. Done right, and you’ll free up time in the long run, leading to increased productivity and focus on strategic goals.

To better understand the value of your investment in automation, let's take a closer look at how to calculate the return on investment (ROI) for your automations.

Unpacking ROI: Types and Calculations 💰

ROI gauges an investment's efficacy—for instance, how automation can streamline your business tasks. There are two ROI forms: hard and soft.

• Hard ROI is quantifiable and includes:

  • Time saved

  • Enhanced productivity

  • Money saved from labor costs
    

• Soft ROI, though trickier to measure, is equally important:
  

  • Reduced human error

  • Better well-being and decreased stress

  • Increased customer satisfaction and experience due to consistent quality service

Calculating ROI for No-Code Automations 📊

To calculate hard ROI, use the following formula:

Time (spent on one task) x Frequency (of performing tasks per month) x Cost (per hour) x 12 Months = Yearly ROI

Make a copy of this template to help you calculate your ROI.

Calculating SOFT ROI

Calculating soft ROI is more challenging, but it’s still essential to assign it a monetary value to get a more accurate picture of your overall ROI.

The best resource I’ve found is this Coda doc, ‘To Automate or Not‘ made by Bill French

Another resource is this spreadsheet by the BOC Group.

Source: Soft ROI Whitepaper Download