Great time saver when you need to drill through concrete and then drive the Tapcon into the hole. When mounting the stereo speakers on the wall, it saved me time and effort climbing stairs because I didn't have to change clothes to drive a bolt into the wall. The magnet is strong enough to hold the hub over the bit, and then another magnet holds the wrench over the hub. You can also use a screwdriver bit instead of a wrench. I wish I had so many products back!