Most Americans earn less than $20 per hour. Most business owners spend their days working on jobs that pay less than $50 per hour. This last statement explains why so few owners are creating valuable businesses.
Even if an owner works 3,000 hours per year at $50 per hour, they will earn $150,000 (at most). This is the path to exhaustion and not financial freedom.
Owners who are creating valuable businesses spend most of their time working on jobs that pay at least $500 per hour.
The chart below shows the linkage between hourly pay and various activities:
TACTICAL $50 per hour
-calling one off prospects
-dealing daily with A/R and A/P
-hiring and firing low level employees
-running the proverbial forklift
STRATEGIC $500 per hour
-calling on top 5 prospects
-negotiating contractual terms
-creating the company culture
-creating the systems of operation
STRATEGIC $5,000 per hour
-choosing the next niche
-creating the pull marketing system
-positioning/maximizing the exit
You can see that the $500 per hour activities are all strategic and cannot be outsourced.
Compare this to how most business owners spend their days
– creating estimates or quotes
– processing payroll and human resource issues
– dealing with employee issues
– meeting with vendors
– talking on the phone about stuff that does not matter
– dealing with various logistical issues
– doing other people’s jobs
These are tactical issues that could be outsourced to people who have mastered their execution.
How may hours each week would you need to work if you focused on $500 – $2500 per hour activities? Probably less than 15 hours per week. It does not require you to work 60 – 80 hours per week as if it is a virtue.
Ask yourself two questions: 1. How many hours each week do you spend on $500+ per hour activities? and 2. What can you do to get out of your $50 per hour groove?
Alfred Robinson – firstname.lastname@example.org
Sourced: rob slee @midasnation.com
|PRESS RELEASE – WayMakers Solutions|
|Media Contact Al Robinson Email: email@example.com Phone: 248.703.7168 FOR IMMEDIATE RELEASE: Monday, November 05, 2012 Waymakers Solutions now provides Background Checks Troy, Michigan, November 5, 2012. Waymakers Solutions now offers instant and affordable complete employment screening solutions. Clients get secure and affordable access to a web- based national criminal and sex offender directory. Clients also get access to motor vehicle reports, credit reports, county criminal records and much more. Employers may visit Waymakers website and immediately begin using this new service. About Waymakers Solutions: Waymakers is a Professional Administration Company that provides business owners cost- effective employee and human resources management systems. Waymakers uses a managed service approach offering staffing, multiple platforms and vendor solutions. Waymakers provides value added solutions to business owners so that employee management becomes more efficient and affordable. Contact Al Robinson at Waymakers Solutions by visiting http://www.waymakerssolutions.com or by calling 248.703.7168.|