In this episode of the Franchise My Business podcast, Kevin Oldham discusses a book he is currently reading and highly recommends called Buy Back Your Time by Dan Martell. He digs into a concept called the Buy Back Loop that gives CEOs the basic maths to determine how to get someone better suited to do a job while they focus on tasks that move the needle as a CEO. This allows CEOs to focus their time on more valuable tasks without sacrificing the operational needs of their companies.
HIGHLIGHT QUOTES
The math of buying back your time – Kevin: “When you’re feeling pain, what you want to do is you want to audit the task that you’re doing. And if it’s something that can be offloaded to somebody else where he uses a variable, basically a quarter of your hourly rate. So let’s say you make a hundred dollars an hour as CEO or whatever it is, and then you want to buy back some of your time. A good buyback rate would be $25 an hour.”
Check out Buy Back Your Time and other resources here.
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