Create a note for yourself from this
lesson. Notes allow you to quickly jot down any valuable information you'd like to review later. You can find your notes by clicking on "My Notes" in the profile navigation menu.
Public. Make Private
You are replaceable…
…and that’s a good thing.
You should go ahead and let yourself be replaced. Better yet, be proactive and fire yourself. That’s right. Go ahead. Find your closest acceptable substitute and simply give away your ever-growing “To Do” list.
Is there another person who can do your work? Splendid! (I hope they can start soon.) Is there a new type of software that can do your work? Even better! (And probably cheaper, too.)
That’s right, my friend. Pop open a bottle of champagne and celebrate, because you’re about to be out of a job, or two – or ten!
And ya know all those stressed-out business owners who never sleep, because “there’s just too much for me to do”? Those guys with huge bags under their eyes? Whose jobs control every aspect of their miserable lives? The guys who came to mind when you read my recent introduction to this series? They’re replaceable, too.
But those pitiful insomniacs suffer from the tragic (and arrogant) misconception that they cannot be replaced, thereby preventing them from outsourcing major portions of their heavy workloads to others.
You are smarter than that.
Perhaps you’ve tried that hamster wheel before – but now you know it gets you nowhere.
Now you know how to distinguish between vital work (which must be completed by somebody in order for your business to run properly) and personal work (which must be completed by you, personally).
And you want to constantly maximize the freedom and satisfaction in your life by perfecting your personal work…
…even if it means outsourcing significant amounts of vital work to other people.
The remainder of today’s lesson is designed to equip you in these outsourcing efforts. Specifically, you will receive a helpful framework for creating each of your outsourcing plans, so that you can enjoy as much freedom as possible while cutting the fat from your personal and professional calendars.
So which of your jobs, exactly, should you outsource?
What are the repetitive, tedious, and/or unimportant tasks that someone else should be doing while you focus on what’s essential?
Before we can sort this out, we need a frame of reference. So let’s take another quick step back.
Ask yourself this important question: How do you see the dollar value of your time? What price do you put on your most valuable asset?
$10 an hour? If so, there are alternatives for you. Like being a virtual assistant for someone else’s business.
$25 an hour? May be enough to replace your current job.
$50 an hour? That’s $100,000 a year for a 9-to-5’er.
$100 an hour? $500 an hour?
It’s hard to do this arbitrarily, so let’s run a quick calculation. Fill in the blanks:
$ ___________________ (your target yearly income)
÷ ___________________ (your target working hours per week)
= $ ___________________ (your target dollar value of your time)
It doesn’t seem so far out of reach when you break it down like that, does it?
Side Note: In case you haven’t picked up on this pattern yet, frequent “stepping back” is a common trait of the architect. Several times a day, stop and ask yourself why you’re doing what you’re doing. Get some altitude on the situation. Does what you’re doing have an immediate, measurable impact on your desired results? Is what you’re doing the highest & best use of your time? If so, proceed. If not, stop and delegate it to someone else.
Now that you’re aware of the target value of your time (TVT), it’s easier to determine whether any daily task is worth your time. Say your TVT is $240 an hour ($500,000 income-per-year on a 40 hour-per-week schedule).
For most of the things you fill your time with each day, you’ll find the answer to be “no.”
For some of these the answer may be “yes,” but also remember that there are mental and emotional costs to some of these tasks as well. Putting out bandit signs for four hours may certainly be worth $960 to your business, but is it worth the stress of waking up at 4am to do it personally? Is it worth the price of not having a clear head when analyzing deals later that morning? Of not spending that time with your family instead?
These are the questions you should be asking yourself all day.
Does what you’re doing have an immediate, measurable, positive impact on your desired results?
Is what you’re doing the highest and best use of your time?
If so, proceed with the task. If not, stop and delegate it to someone else.
With practice, it gets easier to make these decisions. Soon, for each task that presents itself during your day, you’ll be able to determine in a split-second whether to do it, delegate it, or dump it.
And just remember that every time you say “yes” to one task, you’re saying “no” to another (one that may have a more direct impact on your desired results). As an architect – a business owner – “no” should be your default answer to most things that demand your time.
You’ll need to master the art of delegating, eliminating, and simplifying. This is critical to reaching and exceeding your TVT.
Granted, in reality, there’s probably a big difference between your TVT and the current value of your time (how much you’re making right now). But simply having your TVT as a frame of reference is important when prioritizing and delegating tasks throughout your day.
It helps begin to create the gap between your time and money. The gap that means freedom.
Regardless of your TVT, what are some of the tasks that may not be worth your time or the mental/emotional effects (stress, frustration, tediousness) they have on you?
Below are some suggestions, including a handful of ideas related to the Freedom$oft project I started with my friends here at Real Estate Mogul. Is this self-promotional? Absolutely! And I am unashamed, because I passionately devote my entire life to these concepts (in case it wasn’t already obvious).
Now, as you’re reading each task on this list, ask yourself if it’s worth paying someone else $2/hr to do it for you…
What do you think?
See a few things on this list that you’d rather not do yourself?
“Yes. All of the above, and more?!”
I know you said it. :-)
Good. Now outsource.
Calculate -- Calculate the target value of your time (TVT).
Evaluate -- Using your TVT, determine whether certain recurring tasks are worth your time.
Delegate -- If you determine that any vital activity is not worth your time, outsource it to someone else.
Is there a topic you'd like to learn more about? Request a Lesson
is a real estate investor, serial entrepreneur, life coach, musician and philanthropist. CEO of Real Freedom, Inc, one of the most influential internet-based information publishers in the world, owns the largest Anytime Fitness Gym in the United States, is recording a music album with Atlantic Records, sits on the board of Advocates Of Love Orphanage, and has a non-profit charity assisting the poor and oppressed in Cuba with both their physical and spiritual needs.
With over 200,000 subscribers to his email newsletter, he is rapidly fulfilling his mission on earth, which is to glorify God by setting people physically, mentally, financially, and spiritually free through his music and his message of FREEDOM. Preston is 37 years old, lives in Tampa, FL with his wife Ashley, where he spends most of his time reading, writing, and practicing mixed martial arts.
Module: Business Development
Expert: Preston Ely
At RealEstateMogul.com, we’re committed to delivering the awesomest, most practical, actionable content to our members … and that a big part of that is getting YOU to tell us what you'd like to learn from us. Since our REI resources are basically endless, we’d love to tailor our upcoming training as much as possible to precisely match what you, our members, really need and want out of us.
Real Estate Mogul LLC
5023 W. 120th Ave, #102
Broomfield, CO 80020
This document describes Real Freedom Inc's Purchase Agreement. When you
complete a purchase from Real Freedom Inc, you agree to the terms of the
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PO Box 48617
Tampa, FL 33646
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2022 Real Freedom, Inc.
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Real Estate Mogul LLC
5023 W. 120th Ave, #102
Broomfield, CO 80020
(Please replace “AT” with @ and “DOT” with .)
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© 2022Real Estate Mogul LLC
Real Estate Mogul LLC
5023 W. 120th Ave, #102
Broomfield, CO 80020
FROM PRESTON ELY - MY PERSONAL DISCLAIMER TO YOU
Hi - we do everything in our power to run a good, clean business and help people succeed.
We've been in business for nearly a decade. Our mission is simple: help 1,000,000 people live lives of greater freedom. That's what gives us juice and passion.
Unfortunately, there are people and companies who do bad things and make products that don't work at all or don't work as advertised. That behavior hurts everyone.
The bottom line is there is no such thing as magic. There is no magic unicorn that will appear on your doorstep and start pooping gold bars or giving you free money.
Just because people in this program have made lots of money doesn't mean or imply the same will happen to you. In business, and in life, there are no guarantees.
Any one of the people who we happen to feature in this program have a BIG WHY - they want to make a difference and help themselves, their families, their employees and customers succeed. They want more and they apply themselves, they get outside of their comfort zones, acquire new skills, work like crazy, make mistakes, and fail, BUT THEY DON'T GIVE UP.
They implement. They don't quit. They serve. They didn't blame someone or something else for their mistakes or failures - instead, they do the HARD WORK that it takes to make a difference.
They use our tools, systems, psychology, mindset, training, community and events to succeed.
If you're the type of person that isn't willing to roll up your sleeves, learn, explore, grow and focus on helping other people succeed, our programs aren't for you.
If you're a blamer, whiner, malcontent, or just downright lazy, our programs aren't for you.
But if the content is this program and our videos resonate with you - and you can see the possibility and potential that this can work for you, then WELCOME HOME. You're in the presence of REAL PEOPLE who are helping REAL BUSINESSES succeed, thrive and survive.
It would be both mine and my team's pleasure and honor to serve and support you so you can EARN MORE, LIVE MORE and GIVE MORE.
Preston Ely, CEO
FULL EARNINGS DISCLOSURE:
RealEstateMogul LLC. (The Company) does not guarantee income or success, and examples shown at RealEstateMogul.com do not represent an indication of future success or earnings. The Company declares all information shared is true and accurate, and any claims made of actual earnings or examples of actual results can be verified upon request.
The earnings, revenue and profit results that a customer will generally achieve in circumstances similar to those depicted in the endorsements and testimonials on this site depend on many factors and conditions, including but not limited to, work ethic, learning ability, use of the products and services, business experience, daily practices, business opportunities, business connections, market conditions, availability of financing, and local competition, to name a few. Because of impediments due to any one or more of the foregoing and other factors, it is generally expected that no earnings, revenues or profits will be achieved with the use of any products or services advertised on this site in circumstances similar to those referenced in any endorsement or testimonial.
Each of the purchasers of our products and services who have provided their endorsement or testimonial for use on this site have received a refund in the amount of the cost of the product and service in exchange for their endorsement or testimonial.