Do you feel like you are running around like a chicken with their head cut off? Do you feel like you’re so busy and you cannot seem to get caught up? Is a lot of your day taken up by busy work? If you answered yes to any of these, then you have a couple more questions to ask.
Ask yourself how much time are you spending on income generating tasks. What tasks can you give up that are lower dollar per hour tasks than you make? What do you do currently that you do not enjoy doing? Is there back end work that you could give up to free up time, for you to do the thing that brings you income?
Now, if you have said yes to any of these, lets look into the viability of hiring someone. Dan Martell wrote in his book “Buy Back Your Time” about the Buyback Rate Formula, which is essentially 1/4 of what you make is what you can pay someone to take tasks off your plate. So, for example, if you own a construction company and you can bill out at $100 an hour. Any tasks you are doing that does not generate at least $100 an hour, you should look at delegating. Can you hire someone for $25 or less to do those tasks? I am guessing from experience, you probably can. Then the person you have hired at $25 an hour, once their plate is full, they can ask themselves (you should prompt them), what can they hand off for $7.25 an hour (most likely to a VA), so they can do more of the $25 an hour tasks.
As you progress in business, this all starts to level up. If you do sales, can you sell and have guys in the field billing out at $100 an hour, getting paid $50 an hour, making you $50 per hour per guy. Maybe you manage the crews, have 3 crews of 3, and now you’re making $450 an hour and have a salesman selling. Maybe you do not want to scale, you want to keep doing the work, maybe have a helper or two, and an assistant. There is nothing wrong with that either.
There are many options to get some of your life back. The question is, what do you want? Do you want to keep doing the work? Do you want to level up and be the manager? Do you want to transition to sales? Do you want to lead the company and be the CEO. All are great options, it just depends on what you want. My main hope is you will hire someone to help you with the tasks (that you do not like or are not in your wheelhouse) that are not revenue generating.
Worst case, you give these tasks away, you free up 20 hours of your work week for a 1/4 of your pay and you are way more free. To me, thats money well spent! There are many ways to make this happen but one way, which has made life quite a bit easier is utilizing AI to help.
There are a lot of things which AI can help with. It can help you write your SOPs (standard operating procedures), streamline tasks, automate tasks, be a sounding board for questions you may have, and so much more. We use it as a tool to make sure we are going in the right direction and help us streamline things, so our staff can operate better.
Tutors of Life 