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In one of my blog posts, I told you about the four, income maximising activities you should be spending your free time on. I also told you about the best way to apply the 80/20 and get the free time you need to spend on those power activities.
Here’s step two: Hire a personal assistant. You should look at your to-do list and look at what you spend your time on and ask: “How many of these could I delegate to a personal assistant?” If you’re not sure of what tasks to include in your “assistant list”, here’s the best way to decide:
- Decide how much you want to earn per year.
- Decide how many hours you can work each week and then multiply that by 50
- Divide #1 by #2
- Delegate as many tasks as you can that are not worth the per-hour rate you got in #3
Let’s say, you want to make $100,000 per year. You decide to work 40 hours a week (or 2000 hours per year), then $1,000 divided by 2000 hours is $50 per hour. Every task that you do that’s not worth $50 must be delegated if you want to reach your goal. The best part is that you can easily hire a personal assistant on sites like AskSunday.com and you can get most of your work done for $2 a hour.
In today’s connected, outsourced world, you can no longer use the excuse: “I can’t afford a virtual assistant”. If you truly want to work 80/20 and achieve your financial goals, this is an essential first step.