Daniel and Jack talks about the concept of $10/hr. work, $100/hr. work and $1,000/hr. work, how team meetings can be more valuable than booking an appointment, how to avoid being the bottleneck of your business and so much more.
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QUOTES FROM THIS EPISODE
“It really came down to ‘what’s the most important thing that only I can do?’ and that’s where I had to start putting value on my time.”
“Good systems around simple processes lead to better systems around more complex processes.”
“I’m talking about systemizing the operations of your business to create great client experiences and do that consistently, because that’s really important.”
“If everything has to go through you as a business owner, then you become the bottleneck. The business is only gonna grow as far as you can take it.”
- [0:00:32.6] The concept of $10/hr. work, $100/hr. work, and $1,000/hr. work
- [0:01:28.5] Tasks that falls under the category of $10/hr. work – the ‘mind-numbing tasks’ as Jack would put it
- [0:02:39.0] Tasks that falls under the category of $100/hr. work – e.g. your work as a clinician, etc.
- [0:03:38.9] Tasks that falls under the category of $1,000/hr. work – e.g. meeting with a gym owner, etc.
- [0:04:11.2] The value in prioritizing $1,000/hr. work even if it does not generate any income for the day
- [0:06:12.2] External marketing – the cost of acquisition is a lot higher than the cost of retention
- [0:06:12.2] Should you see clients to get your pay for the day, or should you just invest your time on the $1,000/hr. tasks? How does Daniel split his time between being a practitioner and managing his business?
- [0:08:02.5] How can a team meeting be worth $1,000 an hour?
- [0:09:20.6] Getting someone to do it VS Doing it yourself
- [0:09:48.0] When it’s the right time for other people to handle the work that you used to do yourself
- [0:11:14.0] Challenge to our listeners! Define the tasks that happens in your clinic under the three categories we just discussed.
- [0:12:06.0] Tips on prioritizing tasks under $10/hr. work, $100/hr. work, and $1,000/hr. work