Dan Martell - October 27, 2023


Why You Shouldn’t Hire Employees If You’re at $100k⧸Year


Episode Stats


Length

28 seconds

Words per minute

283.61343

Word count

135

Sentence count

8


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

In this episode, I talk about the buyback rate, and why it's not about how much you can afford to pay someone else to buy an hour of your time. It's based on your ability to produce value or get paid.

Transcript

Transcript generated with Whisper (turbo).
00:00:00.000 you're making a hundred grand a year. Don't tell me you're going to hire a COO and they're going
00:00:03.440 to take care of all the stuff I don't want to do. You did not earn it. In the book, I talk about the
00:00:07.120 buyback rate. What can you afford to pay somebody else to buy back an hour of your time? It's based
00:00:11.980 on your ability to produce value or get paid. Some people run the buyback rate formula and they go
00:00:17.400 like, well, it's only $3. I go, yes, that's where you start. So you should ask yourself, how do I
00:00:22.120 make it not $3? And I can tell you, it's probably either raising your prices or working with
00:00:25.880 customers that value what you do or get it better at marketing and selling.