Do What You’re Good at…Outsource the Rest!
I first started using virtual assistants (VAs) several years ago after I read Timothy Ferriss’s book “The 4-Hour Work Week”.
What I leaned was that there are things in my business I like to do and am good at that drive revenue to my bottom line.
Conversely, some things I am not good at, don’t like to do, that also steal precious prospecting time from my business.
In his book, Ferriss shares his ideas on how to have much of your work done for you by other people.
Is it time to Outsource?
The reason this principle is so powerful is you have to determine your true value as an entrepreneur. And if you want to become an Affluent Entrepreneur, you need to be even more careful and more selective about how you spend your time.
If your hourly billing rate is $250, for example, then any task you currently perform that you can find someone else to do better, at a rate less than $250 per hour, you should outsource so you can free up your time to do more of what you are good at.
There are two enemies that you as the Affluent Entrepreneur need to be aware of:
- Other administrative/busy work
Neither of these produce revenue for your company.
What I mean is, it is better for your desk and office to be a mess while you are bringing in a huge amount of revenue, than to have the cleanest, sparkling office in the world and the most organized email inbox with little or not incoming revenue.
Do What Brings in Revenue
If you think you can outsource or contract the sales, marketing, and prospecting piece of your business, think again. You want your VAs to be doing the admin work, the email work, and the return calls while you focus exclusively on the activities that drive revenue to your company’s bottom line.
Most Affluent Entrepreneurs are good at prospecting, selling and marketing. So, if that is the case with you, my argument is that you should spend your time performing these duties and let all the other required work be left to someone more qualified whom you can contract to do this work for you at a lesser price.
This is an excerpt from my book “The Affluent Entrepreneur”, and is one of the many topics I speak on.
If you are a Meeting or Event Planner, Contact me the next time you need an inspirational, motivational or keynote speaker, I will customize my topic to fit your needs.