Do you have enough time in the day to get everything done that you need to? Are you spending time doing the same tedious tasks week after week, day after day? Do you feel like you have a million things to do and that you will never catch up? If you have answered yes to any of these questions, you need to tap into the power of leveraging. If you are using leverage and the answer is still yes, then you’re probably doing it wrong. Lets discuss!
Leverage Other Peoples Time
People commonly say that there is not enough time in the day but the truth is that everyone has the same 24 hours to work with. A millionaire has the same amount of time in a day as a person that works at a fast food restaurant or a person that is unemployed. The difference between these people is how they spend their time during the day.
Very wealthy individuals understand the power of leveraging. That is why wealthy people have assistants and maids. Wealthy people understand that their time is very important and that they should only spend their time on growing their business, spending time with their families, or doing things they enjoy. Wealthy people are not personally picking up every phone call that comes into their business or stuffing envelopes to send out their advertisements. They have people that do these tasks for them.
How much are you worth an hour? This is a serious question you need to ask yourself before true delegation and leveraging can begin. If you are worth $50/hour than you need to delegate all tasks that are less than $50/hour. For example, if you can hire a cleaning service to clean your house for $20/hour, you should hire someone else to do it. Do you mow your own lawn? This is something that can be easily delegated to a landscaper. These two tasks can be delegated very easily and free up an extra 5-10 hours in a week! Wouldn’t you rather spend that time with your family or building your business?
What are some things that you can do in your business to free up your time? For example, do you personally answer every call that comes into your business? You can hire an assistant to take calls and schedule appointments for you which will allow you to focus on building your business. Another example, do you spend time every day doing paperwork and data entry? Again, this is something you can have an assistant do for you.
You can create trainings and systems for people to do different tasks for you. For example, you can create training videos using your computer screen with a program called Camtasia. This will record everything that you do on your computer screen. This is great for showing your hires and assistants how to do different tasks virtually so they do not have to constantly bother you or ask questions on the process. Most of your online processes and systems can be recorded with this tool.
You want to be careful in whose time you are leveraging. One bad hire can cost you time, money, and opportunities. You want to hire talented individuals that are willing to learn and go above the call of duty. Take your time to make sure you hire and leverage the right people so they can free you up to grow your business. Read “Topgrading (How to Hire, Coach, and Keep A Players)” by Brad Smart and Geoff Smart.
Once you understand the power of leveraging and utilize it, your business will grow exponentially because you will have plenty of time to work on your business, not in it. People will not understand how you accomplish more in a day than they can accomplish in a week. Read “The 4-Hour Workweek” by Timothy Ferriss for an in depth understanding of leveraging.
Joshua Inglis is a real estate educator and entrepreneur from the Chicagoland area. Joshua specializes in “flipping” houses and educates homeowners all across the country on the 15 options they have when facing foreclosure.