Sometimes we waste time and money on activities we should not be doing. For example, mowing the lawn. How long does it take you to mow your lawn? What can you make in that amount of time if you were working or what hobby could you participate in and not be upset with giving up that money and time to do so. I am going to give countless examples throughout this to hopefully make you think a little different on the tasks you could be doing.
As we progress in our careers, we should be getting better. We should building our skills and increasing the amount we earn per hour. Now we may work on commission or salary, but you can still break that down into hourly. This is what I mean, if you make $100,000 a year but you are required to work 60 hours a week, if you do not include overtime, you make $32 an hour. Where as the same person, if they make $100,000 a year but only work 40 hours a week, makes $48 an hour, that is a little better.
Now what if…. you make commission and when you are out selling you can make 10% on a sale, with products averaging $20k. So, you can earn $2k per sale, but then you usually have some paperwork, etc to do as well, so that $2k will get broken down, based on the amount of hours you have to spend to get the product to the customer. Say it takes on average 10 hours to get a client to buy and 10 hours to do all the back end paperwork, setting up marketing schedules, etc. So, you’re making $100 an hour. What if we made a template for an assistant who we could pay $25 an hour to do the 10 hours of back end paperwork? Now this may take you 300 hours to put together and an hour a project to oversee. What will that do for our hourly income? Well, now instead of 2 sales a week and working 40 hours, we can do 4 sales a week and work 44 hours or 3 sales and work 33 hours.
| Sales | Income | Price to pay assistant | Money left over | Dollar per hour for salesman | Income now compared to before |
| 3 | $6000 | $750 | $5250 | $159 | $1250 more with 7hrs of work less a week |
| 4 | $8000 | $1000 | $7000 | $159 | $3000 more with 4 hrs of work more a week |
When we consider the chart, does it make sense to hire an assistant and lean into our dollar per hour tasks, to make an extra $59 an hour? I think so. Now, say you make this extra money and you want to pay someone $50 every 2 weeks to mow your lawn, well, you now make more than that per hour extra, then before. So, it becomes easier to hire that person, not worry about it, and spend more time with your family, friends, or hobbies.
Depending on your job, whether hourly, salary, or commission, you may be able to hand off duties like this to lower an hour paid individuals. Win win for both people. You are supplying someone with a job and you get to focus on dollar producing activities.
So, lets say you have to capability to earn $100 an hour doing sales. Lets say mowing takes you 1 hour per week, plus the cost of the equipment and upkeep, but we do not need to calculate that at this time. So, every 4 weeks, you spend $400 in potential earing power to mow your lawn, or you could hire someone who will do it $50 a mow, so, $100 every 4 weeks. Which would equate to 1 hour working. So, now you just free’d up 3 hours from your schedule every 4 weeks to enjoy doing whatever it is, you want to do.
You can take this concept with cleaning the house, doing laundry, grocery shopping, maintenance on vehicles, maintenance on your house, tasks at work, and the list goes on and on. The main question to ask is, is it worth the money given up to free up time, to either spend it on dollar per hour producing activities or spend your free time doing something you prefer.
Your life Tutor
-Shaun Tutor
Tutors of Life 