Fantastic book: Buy Back Your Time by Dan Martell
Quotes
80% done by someone else is 100% awesome!
10-80-10 Method: the Andy Warhol Method – You do the first 10% (ideation), someone does 80% (execution), and you finalize the last 10% (integration)
Employee: trade time for money = Income
Entrepreneur: trade money for time = Leverage
Empire: trade money for money = Freedom
DRIP Matrix
Below are how I ranked my activities
Energy (on the x-axis)
1 = Don’t like it, can live without it
2 = Don’t like it
3 = Neutral, can depend*
4 = Like doing it, I’m good at it
5 = Love it
Money
1 = Doesn’t make money
2 = Indirectly makes money
3 = Makes some money
4 = Makes good money. ($100k+)
5 = Makes great money ($500k+)
My Activities
- Admin (Emails, Calendar, Corp Meetings, etc.) = 1,1
- Business Planning (Traction) = 4,2
- Coaching: as Student = 4,4
- Coaching: as Teacher = 4,2
- Finances (Commissions, P&L, Taxes) = 3,1
- Empire Building (Investments, LLCs, Passive, etc.) = 5,5
- Gold Time (i.e. prospecting, lead gen, lead converting) = 1,5
- Green Time (i.e. maintaining existing relationships) = 3,5
- Personal Time = 5,1
- Red Time (Loan Stuff, Fire Drills, Wasted Time, etc.)
- Marketing: Content Creation = 4,3
- Marketing: Planning = 5,2
- Recruiting = 2,5
- Team (Daily Meeting, Marketing, Culture Club, Miscellaneous) = 5,2
Additional Thoughts:
What’s the time commitment: (30% weight)
- 1 point = 1 hour per week
- 2 points = when it’s 1-3 hours per week
- 3 points = for 3+ hours per week
- How much do I enjoy it: (20% weight)
- 1 point = I enjoy it (otherwise I wouldn’t do it)
- 2 points = I’ll stay up late to do it (or get up early if I’m not a night owl)
- 3 points = I’ll get up early on the weekend and can’t stop thinking about it
How much money does it make me? (50% weight)
- 1 point = at least $250k
- 2 points = between $250k and $500k
- 3 points = more than $500k
What am I doing?
- Loan Officer is: Like = 1 (.2 with 20% weight, Time = 3 points (so .9 with 30% weight), Money = 3 (so 1.5). The total is 2.6 on the weighted scale.
- Branch Manager:
- Lake
- Systematic
- City Lots
- 190 acres
- Knight
- LOS software
- Insurance
- Chasing Excellence
- AMT Media