The Buy Back Principle
Episode Stats
Words per minute
257.23648
Summary
In this episode, I talk about the "buyback principle" and how you can use it to grow your business. The buyback principle states that you don't hire people to grow the business, you grow it by buying back your time.
Transcript
00:00:00.000
Take me through the buyback principle, how this works for someone that's never been introduced to it.
00:00:04.540
The buyback principle states you don't hire people to grow your business.
00:00:07.520
You grow your business by buying back your time.
00:00:10.580
And it sounds so subtle, but the mistake to make is to add people to your life that can do what you already do.
00:00:17.140
Because then it costs money and you didn't actually get an ROI.
00:00:20.340
If I was a logo designer and I was overwhelmed, most of them would go hire another logo designer.
00:00:24.020
But what you should do is figure out the other stuff that isn't logo designing.
00:00:27.220
have somebody take that off your plate so that you could do logo design because that's what you
00:00:31.140
get paid the most money if i buy back my time then i can go do the thing that is the bottleneck