How Entrepreneurs Can Reclaim Their Time & Freedom Back #MakingBank #S7E35

How Entrepreneurs Can Reclaim Their Time & Freedom Back #MakingBank #S7E35

Welcome back to Making Bank. On today's episode, we have Dan Martel who is an entrepr3eneur, angel investor and he became a highly sought after coach in the SAS industry after exiting three tech companies within a 10 year period.

He's also an athlete and Ironman philanthropist, husband, father of two boys, and lives an amazing life that he's created for him. 

Make sure you check out this episode of Making Bank with Dan Martell.

 

(3:29) Increasing Life Quality

Most of us have the tendency to overwork and really commit ourselves that we lose our most precious resource. Time. That is why many fail to withstand the pressure life throws at them. It is important to get back your time and never lose it because if you can buy back your time, you can definitely increase your quality of life and performance as a whole.

 

(6:54) Time Assassin

The most common time assassins are the Self Medicator, the Saver, the Supervisor and the Staller. All these different attributes exist as individuals in a business and they really have the tendency to slow down or interrupt the growth of a company and workflow as a whole.

 

(12:07) Time Worth

If you do anything that you could have paid somebody else, that buyback rate or less, you're literally working against yourself. You can't build a $10 million company off a $10 task. There's not enough hours in the day. And also instead of hiring more people so you should hire people that will help buy back time out of your calendar.

 

(14:52) Buy Back Time

Instead of hiring two people to do multiple things thinking it will be efficient, it's better to just give the most valuable employee more roles to take because one efficient employee is better than having two of them doing tasks that can be easily done alone. This is how you buy back time efficiently.

 

(17:08) Hiring Order

The hiring order is Admin, then Delivery, then, Marketing and then Sales. These should be the order of hiring in order for a business to prosper. If the order is changed, the flow won’t be effective anymore. They have to be in this order.

 

(20:00) Zero Inbox

Dan Martell talks about how he follows a zero inbox policy. He doesn’t do emails. Doesn’t do inbox. He sends voice messages because most people don't realize that our typing speed versus our talking speed, our talking speed is way faster and it will be clearer and it will save more time.

 

(21:30) Playbook

A playbook is a very important part of handling a business that most CEOs do not even follow. It is important because it has all the necessary guidelines to run the business and also for every employee to be able to follow the guidelines. If it's not followed the business will just crumble and the employee might just lose a spot in the company. 

 

Links:

@Danmartell @danmartell

www.buybackyourtime.com