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Part Two

What's Your Aspirational Hourly Rate?

How much is it really worth? If you don't have a clear, concrete answer to those questions, you're going to have a hard time prioritizing, delegating, and getting high-leverage things done.

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2️⃣
This is part 2 of a 6 part series to Automation 101

Before we dive into the nitty-gritty of automation, there's one thing you need to wrap your head around:
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Your time will never be worth more than you think it's worth.
And you won't be able to unlock the full power of automation (and delegation) until you figure that out.
Let us expand on that.
On paper, every founder and business owner in the world understands that time is their most precious asset.
But in reality, most people don't act accordingly.

So… why does everybody allocate their time so poorly?

The answer has nothing to do with productivity tools and systems, and everything to do with psychology.
Time is a vague and abstract idea. I'm sure you know your time is super valuable. But how valuable? How much is it really worth?
If you don't have a clear, concrete answer to those questions, you're going to have a hard time prioritizing, delegating, and getting high-leverage things done. You're going to quickly start drowning in busywork and struggle to spend time working on the things that do grow your business.
Why?
Because if you don't have a clear framework for valuing your time, you can't objectively tell what's worth doing and what's not.

The solution: set an absurdly high aspirational hourly rate

Once you set (and enforce) an aspirational hourly rate, this problem is solved for good. The way you allocate your time changes forever.
For example, say you decide your time is worth $1,000 an hour. Suddenly, anytime you find yourself caught up doing a time-consuming, low-leverage task -like replying to emails or manually updating a spreadsheet,- you can't help but think to yourself:
"Am I really wasting $1,000 on this!?"
Every day you're forced to face the harsh reality that you're underutilizing your time.
And when you start feeling this pain, the word "automation" becomes music to your ears.
That's when it finally clicks.
And that's why we wanted to share this framework with you first.
Now you're probably asking yourself "How do I come up with my aspirational hourly rate?"
We've got 2 resources to help with that:
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Set and enforce an aspirational hourly rate.

  1. This short post from Naval Ravikant (who originally came up with the term "aspirational hourly rate") will help you further internalize the framework
  1. And this blog post by James Clear will help you calculate and find a realistic-yet-aspirational hourly rate. (He includes a free spreadsheet template that's super helpful too, you can check it out here. Just a heads-up: the spreadsheet makes more sense -and is more useful- when you read the article!)
No worries if you can't read them right now. But make sure you block out 15-20 minutes later today to check them out and start working through them.
Remember: If you don't put a price on your time, someone else will.
And the sooner you decide how much your time is worth, the sooner you can start to regain control over it.
 
 

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