Dan Martell - How to Deploy Time in Your Business

00:00:00.000 You now have a repeatable business model

00:00:02.920 that makes you money while you sleep.

00:00:04.260 You have somebody that wakes up that helps with delivery.

00:00:06.680 You have somebody that generates leads

00:00:08.080 and you have somebody that's taking care of the sales calls

00:00:10.200 so that you don't have to be actively involved

00:00:12.680 in the business for it to continue to grow.

00:00:14.680 Hey there, I'm Dan Martell,

00:00:29.520 serial entrepreneur, investor, and creator of SaaS Academy.

00:00:31.520 In this episode, I'm gonna share with you

00:00:33.080 the drip matrix, okay?

00:00:35.320 It's a quadrant that's gonna help you understand

00:00:37.420 where you should be focusing your time

00:00:39.560 to get more energy and money, okay?

00:00:42.540 For me, it's all about creating value

00:00:44.720 and creating more income so that you have more freedom.

00:00:48.300 See, most entrepreneurs hit what's called the pain line.

00:00:52.320 As they're growing their business,

00:00:54.340 they hit this pain line

00:00:55.840 where more growth means more pain for their life.

00:00:58.900 And I don't know about you,

00:01:00.260 but most people, if I say, here's a knife,

00:01:02.900 you're not gonna push your hand towards the knife, okay?

00:01:05.820 So if growth is here and this is you,

00:01:08.640 you're gonna feel the pain and you're gonna pull back.

00:01:10.640 And what I want to share with you

00:01:13.200 is a different approach to scaling

00:01:15.140 where this is the opposite effect, okay?

00:01:18.000 But I know, you guys are like,

00:01:19.240 what are you talking about?

00:01:20.200 Building a business is hard.

00:01:21.700 Yes, but it doesn't have to be that way.

00:01:24.200 See, what I believe is that when entrepreneurs

00:01:25.980 hit the pain line is they do one of three things.

00:01:28.680 They either sell, stall, or sabotage.

00:01:31.640 Those are the moments where I get the call and they go,

00:01:33.440 Dan, I think I'm gonna sell my company.

00:01:34.820 And I go, why?

00:01:35.660 Da, da, da, da, da, da, da, da, da, da, da, da,

00:01:37.100 pain, pain, pain, pain, I wanna sell.

00:01:39.100 Or, you know, I'm like, how's things going?

00:01:41.100 Well, be going great, but I don't have enough leads,

00:01:43.340 but I had this opportunity and it fell through

00:01:44.860 and I'm like, oh, self-sabotage.

00:01:46.420 They literally threw hand grenades of, you know,

00:01:49.920 failed response emails, slow to make a decision.

00:01:53.240 All there's these like five different time assassins

00:01:56.260 that they don't even realize

00:01:57.540 that they're sabotaging their business to grow

00:02:00.000 because they don't wanna feel more pain, okay?

00:02:02.020 It's a deep psychological awareness.

00:02:04.060 Or they just decide to stall and they go like,

00:02:06.680 I'm just cool being here.

00:02:08.240 Why do I have to grow?

00:02:09.240 I had a friend of mine say that to me once.

00:02:10.660 He said, is it okay if I don't wanna grow my business?

00:02:14.360 And I go, well, I'm pretty sure the market

00:02:16.940 is gonna want more from businesses like yours.

00:02:19.920 I think the GDP growth is growing.

00:02:22.160 So the world is growing.

00:02:24.800 And I think your team wants more opportunity.

00:02:27.620 So if you think your team's just gonna decide

00:02:29.680 to set up shop with you and not wanna grow,

00:02:32.940 well, your best people are probably gonna bounce

00:02:34.600 to the other person that can give them a brighter future.

00:02:36.620 So these options are not viable,

00:02:39.340 but the mistake people make is they don't focus on them.

00:02:45.140 And this is what I wanna share with you,

00:02:46.580 and this is why it's a drip matrix.

00:02:48.180 But the first principle, this is number one,

00:02:51.080 is you gotta focus on you.

00:02:53.320 You are at the center of your business, okay?

00:02:57.420 The decision for an entrepreneur to sell, stall,

00:03:00.320 or sabotage affects the rest of the company.

00:03:03.160 And too often, CEOs, founders of companies are not selfish.

00:03:07.660 They don't put themselves first.

00:03:09.140 They have a problem in their business,

00:03:10.460 they hire somebody to help somebody else out.

00:03:12.400 They have an issue, they hire somebody to add capacity.

00:03:15.740 My philosophy, which is the core of my new book,

00:03:18.340 The Buy Back Your Time,

00:03:20.260 is you don't hire people to add capacity,

00:03:23.280 you hire people to buy time out of your calendar,

00:03:26.560 to free it up, to invest in things that light you up,

00:03:30.200 and also makes you more money, okay?

00:03:32.240 Cause if you do that, you will push out the pain line.

00:03:35.680 You won't feel the pain

00:03:36.920 and you won't wanna do one of those three things.

00:03:39.080 So that's number one.

00:03:40.420 Number two is you gotta free up your time.

00:03:42.840 As I mentioned, if you don't have the time

00:03:45.720 to invest in skills and learn ways to improve your business

00:03:49.420 cause you're too busy doing it, doing it, doing it,

00:03:51.700 then you're never gonna be able to get ahead.

00:03:53.240 That's why the quadrant, the DRIP matrix, okay?

00:03:56.700 DRIP is an acronym.

00:03:58.280 The bottom quadrant is delegate, right?

00:04:02.340 So you have makes you lots of money

00:04:04.380 and then there's lights you up.

00:04:05.820 So you have things that do not make you money,

00:04:08.000 that do not light you up,

00:04:09.280 that you gotta get off of your plate, okay?

00:04:11.600 And there's only three options there.

00:04:12.780 The delegate is either you delete, defer, delegate.

00:04:16.160 Those are the three Ds.

00:04:17.080 So you either delete them, you stop doing them,

00:04:18.660 you renegotiate with people, you defer, renegotiate,

00:04:21.700 push it off in the future, or you delegate.

00:04:23.880 Doing that alone will buy you a bunch of free time.

00:04:26.620 Some of you guys are doing things

00:04:28.180 that you just shouldn't be doing, right?

00:04:30.060 So that's the first quadrant.

00:04:32.260 The next one is the replace.

00:04:34.180 Replace is things that make you money,

00:04:35.980 but it doesn't light you up,

00:04:37.280 the things that you don't enjoy doing.

00:04:39.040 And there's a process for doing that,

00:04:40.900 but the key is you've got to give people ownership, okay?

00:04:44.380 So that's the replace.

00:04:45.860 The bottom right quadrant is invest.

00:04:49.200 If I free up my time,

00:04:51.360 these are things that light me up,

00:04:52.540 but they don't make me a lot of money.

00:04:53.840 That's why I call them investments.

00:04:54.920 At first, they don't make you a lot of money.

00:04:56.620 But things like your skills, your relationships,

00:04:59.160 yourself, yourself being your mindset, right?

00:05:02.080 Like learning the skill to manage a sales team,

00:05:04.600 learning the skill to build a marketing plan,

00:05:06.360 learning the skill to delegate better,

00:05:07.920 to be a better leader,

00:05:08.800 to hire somebody to help you operationalize your business.

00:05:11.340 Those are investments that will eventually produce

00:05:14.500 and that's the P in the drip quadrant.

00:05:16.460 So delegate, replace, invest, and produce.

00:05:19.740 Produce is where you wanna be.

00:05:21.540 You wanna be waking up every day and doing things

00:05:23.640 that only you are uniquely qualified to do

00:05:25.920 that not only lights you up, but it makes you money.

00:05:28.640 And as much as you can spend,

00:05:30.260 honestly, five, six hours a day just producing,

00:05:33.720 you will create more value for your business

00:05:36.680 than you've ever seen possible.

00:05:38.260 So that's number three,

00:05:39.060 is you've got to free up your time using the drip matrix.

00:05:41.900 Number three is you've got to use the next hire focuser.

00:05:44.740 So a lot of people that work with me coaching clients

00:05:46.920 when we're implementing this buyback principle

00:05:49.820 from the buyback your time book,

00:05:52.100 they're always like, well, who do I hire next?

00:05:53.560 Well, there's a framework I teach

00:05:55.720 called the replacement ladder, okay?

00:05:57.260 And the replacement ladder is focusing

00:05:58.760 on kind of five core functions of your business.

00:06:01.260 But I'm gonna share the first four with you

00:06:02.620 because those are the most important to you.

00:06:04.140 Number one, the first level is admin, administrative tasks,

00:06:08.120 things that don't cost a lot to give to somebody else to do

00:06:12.000 and you wouldn't wanna do them anyways.

00:06:13.940 I mean, I don't know about you,

00:06:14.940 but I haven't done financial stuff in a long time

00:06:16.740 because I'd rather pay a bookkeeper to do that stuff.

00:06:20.300 But there's everything from posting on social media

00:06:22.660 to scheduling calls, to responding to your inbox,

00:06:25.640 to booking hotels and travel stuff.

00:06:27.840 There's just literally things

00:06:29.060 that it's like death by a thousand paper cuts

00:06:30.800 you don't even realize you're doing

00:06:32.440 that's taking five to 10 hours a week.

00:06:34.540 And you combine all those things,

00:06:36.160 your admin person could literally become a clone for you,

00:06:39.740 giving you an extra 40 hours a week if you do it right.

00:06:42.700 Then you move up and it's delivery.

00:06:45.340 Anytime you're involved, like you can work with a client.

00:06:48.780 You know, if you have a service company,

00:06:50.040 you have a coaching company,

00:06:50.940 or you're like building a software company.

00:06:53.420 You can be the person that does the work

00:06:56.340 that's like super high impact,

00:06:58.100 but everything around that, right?

00:07:00.080 Scheduling your clients, following up, anything delivery.

00:07:03.420 You can hire somebody that dedicated to just that

00:07:05.660 and they own the outcome.

00:07:07.080 So it's admin, then delivery.

00:07:09.200 The next level is marketing.

00:07:10.580 Who wakes up every day to make sure

00:07:12.820 that your business continues to have leads and opportunities?

00:07:15.760 Because if you don't,

00:07:16.800 then you're just gonna have this herky-jerky motion.

00:07:18.740 You're gonna move forward and then slow down.

00:07:20.800 You're gonna build your business up in pipeline

00:07:22.680 and then you're gonna take your foot off the gas

00:07:24.420 because you have more business than you can handle.

00:07:26.200 So you need to have somebody to deal with the marketing.

00:07:28.820 If you're doing that, then you should be on calls

00:07:30.960 and doing a lot of sales opportunities,

00:07:33.080 partnerships, business development,

00:07:34.840 maybe just straight sales.

00:07:37.000 And once you hire somebody that takes over the sales,

00:07:39.760 here's what's magical, okay?

00:07:41.500 So those are the first four out of the five

00:07:42.980 is that you now have a repeatable business model

00:07:46.640 that makes you money while you sleep.

00:07:48.040 You have somebody that wakes up that helps with delivery.

00:07:50.120 You have somebody that generates leads

00:07:51.620 and you have somebody that's taking care of the sales calls

00:07:53.680 so that you don't have to be actively involved

00:07:56.380 in the business for it to continue to grow.

00:07:58.620 That is a magical moment.

00:08:00.160 That's why I wrote my book

00:08:01.200 and that's what I want for you more than anything

00:08:03.140 is to slowly replace yourself, okay?

00:08:06.620 The replacement ladder to get to the top level,

00:08:09.780 which I'm not gonna share here.

00:08:11.700 If you're interested, pre-order my book to check it out.

00:08:13.960 But in there, that's where you feel the flow

00:08:16.800 of business creation of entrepreneurship

00:08:19.160 that I think is available to all of you.

00:08:21.780 So that is number three.

00:08:23.100 Number four is the most important quadrant,

00:08:25.440 which is the invest quadrant.

00:08:26.980 Okay, so a lot of times I teach entrepreneurs

00:08:29.500 how to buy back 30, 40 hours out of the week

00:08:32.180 and they're like, hey, this is amazing.

00:08:33.580 I've got systems and I use your camcorder method

00:08:36.000 and we've built growth playbooks

00:08:37.780 and everything's coming together.

00:08:39.680 But what do I do with all this free time?

00:08:41.320 Because now I'm feeling lazy.

00:08:42.560 I used to work 100 hours a week.

00:08:44.200 Now I'm kinda only working 25.

00:08:46.160 And I never wanna be the person

00:08:48.140 that promotes this kind of like live on the beach,

00:08:50.360 laptop lifestyle, don't put in the effort.

00:08:52.460 I'm about building an empire.

00:08:54.320 The subhead of my book is get unstuck,

00:08:56.680 reclaim your freedom and build your empire.

00:08:58.640 I want you to create as an artist, as an entrepreneur

00:09:01.980 to the fullest expression possible for you.

00:09:04.600 To do that, you gotta invest.

00:09:06.320 You gotta spend money on things that light you up

00:09:09.580 but won't immediately show a return.

00:09:11.820 Things like your skills.

00:09:13.080 What skill do you need to acquire, right?

00:09:16.600 to learn to become a better leader, a better hire,

00:09:19.280 a better manager of marketing teams

00:09:21.500 or revenue teams or whatever it is.

00:09:23.220 What skill is gonna unlock your next level of growth

00:09:26.040 because the business won't grow past

00:09:27.840 the growth of the founder and CEO, period, full stop.

00:09:31.580 The business will never grow higher

00:09:34.560 than the growth of the CEO, okay?

00:09:37.440 Then you gotta ask yourself,

00:09:38.420 where can I invest in my relationships?

00:09:40.220 Because at the end of the day,

00:09:41.340 it's who you know, it's not what you know, okay?

00:09:43.080 It's the who, not how.

00:09:44.500 And if you don't have a strategy to invest in relationships,

00:09:47.740 in partnerships, in serendipitous opportunities,

00:09:52.060 being part of a mastermind, a group, whatever it is,

00:09:56.320 and that's a big opportunity.

00:09:57.640 And then finally, just your mindset and yourself,

00:10:00.400 your health, your thoughts, your mindfulness.

00:10:03.040 I talk about three ways to increase your joy

00:10:05.620 on a daily basis is a gratitude practice,

00:10:08.560 a mindfulness practices, and empathy practice, right?

00:10:11.000 So investing in yourself is part of that quadrant.

00:10:15.240 And if you do that,

00:10:16.320 it allows you to keep moving up the ladder

00:10:19.340 and keep producing more.

00:10:21.100 You have more energy to give, okay?

00:10:23.900 That is why the most important quadrant

00:10:26.400 is the investment quadrant.

00:10:27.800 Number five is produce.

00:10:29.980 Top right corner, as I mentioned,

00:10:31.820 things that light you up, that make you money, okay?

00:10:35.260 That absolutely you would do for free,

00:10:38.680 but it just happens to produce a lot of value.

00:10:40.740 Like for a lot of people, it's I just wanna spend time

00:10:42.620 with positive, motivated, inspiring people.

00:10:45.480 You know, it doesn't matter if it's their team,

00:10:46.980 it's their product innovation department,

00:10:49.500 it's whatever it is.

00:10:50.620 And for me, if you can just get six hours, right?

00:10:54.360 If first thing in the morning, you can wake up

00:10:56.100 and you can produce for three hours,

00:10:57.840 you know, create, focus with good people.

00:11:02.080 That to me is where everybody wished their business was.

00:11:05.680 And maybe when you were small, it was,

00:11:07.140 but because you didn't understand how to buy back your time,

00:11:10.340 you didn't understand how the replacement ladder worked,

00:11:12.760 you didn't even understand how to delegate

00:11:14.180 and you're still doing stuff that's just burning away

00:11:16.320 at your time in a day and it's herky-jerky

00:11:19.220 and it's full of just like scattered meetings

00:11:21.280 and you have no structure to your life,

00:11:23.620 then you're like, hey, I've made enough money,

00:11:26.020 I don't wanna do this anymore.

00:11:27.520 I've got my real estate portfolio, I'm just good with that.

00:11:30.400 I don't wanna do it anymore.

00:11:31.380 And I just, I feel sad because what I believe

00:11:34.680 is there are artists out there,

00:11:36.160 every entrepreneur is an artist

00:11:37.140 and they wanna create in the world.

00:11:39.060 They want products to exist.

00:11:40.760 They want problems solved.

00:11:42.620 And their ability to play the game, okay?

00:11:45.260 Because it really is a game,

00:11:46.280 this infinite entrepreneurial game

00:11:48.160 where they don't have to retire from being them

00:11:50.920 because the more they are them,

00:11:52.780 the more they get to create,

00:11:54.900 the effortlessly they get to create.

00:11:57.520 I think that's a beautiful world

00:11:59.020 and that's the world I wanna live in.

00:12:00.400 It's the world that I want to encourage you to go after.

00:12:04.560 I want to teach you through the content

00:12:06.560 that I'm sharing with you.

00:12:07.620 The book, it's what I try to model as a person

00:12:11.380 because in that place,

00:12:13.380 you're able to serve way more people,

00:12:15.880 solve way bigger problems

00:12:17.280 than being constrained by your time.

00:12:19.800 And that is the drip matrix.

00:12:21.760 You have to first delegate, then replace, invest,

00:12:24.980 and produce your way to buy back your time

00:12:28.100 so you can create more value

00:12:29.260 and create more energy in your life.

00:12:32.400 So I would love to hear from you below.

00:12:34.600 What was the biggest takeaway for you?

00:12:36.020 If you're interested in supporting my new book,

00:12:38.520 Buy Back Your Time, Get Unstuck,

00:12:40.600 Reclaim Your Freedom and Build Your Empire,

00:12:42.180 click the link to pre-order your copy today.

00:12:44.700 It would mean the world to have your support.

00:12:47.360 If you have any other ideas,

00:12:48.260 feel free to email me directly.

00:12:50.260 I'm super grateful for your time,

00:12:53.260 your energy, your support over the years.

00:12:55.640 And I hope this video finds you incredibly well.

00:12:57.920 I wanna challenge you as per usual

00:12:59.500 to live a bigger life and a bigger business.

00:13:01.640 And I'll see you next Monday.

00:13:06.020 We'll be right back.

Dan Martell - October 17, 2022

How to Deploy Time in Your Business

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