“The most popular labour-saving device is still money”
- Phyllis George
I was having a glance over a little book of money tips I have at home and I came across this clever quote. It stuck me with it’s truth.
Currently my parents are getting a cleaning lady to come in and clean our house once a month. They are using their money to save of labour they don’t really want to do.
But if there is one thing I have learnt it is that I can learn a lesson from everything. You can apply this principle to your business.
As your business grows there will be lots and lots of little labour intensive tasks that will demand your time. When you were starting up you had to do everything yourself no matter what it was because you had no money to spend on extra labour. But I want to ask you a question. The question is this:
How much do you think you are worth?
Do you think you are worth $25/hour? Do you think you are worth $50-100/hour?
If you believe that you are worth that much then why should you spend time filing paperwork when you can pay someone $8/hour to do it while you can be spending your time doing something that earns you $100/hour?
As a budding millionaire you need to learn the art of delegation. 20% of what you do will bring in 80% of the results. I am almost certain that the paper work and the things you can pay someone $8/hour to do will be the 80% of work that brings you 20% of the results. What I am saying is make sure you focus your time properly and don’t be too stingy to pay someone to do the labour intensive work. It will pay off for you big time in the long run.
So next time you are working hard and getting nowhere because you are doing all the labour intensive jobs that bring small results, remember this quote and maybe hire someone to work for you.
“The most popular labour-saving device is still money”
- Phyllis George
