Introduction
When it comes to reading, self-help, and personality development has been my area of interest for over a decade. However, it has recently been felt that recent books are merely stolen ideas from previous ones. Book ‘Buy Back Your Time’ by Dan Martell has proved to me yet again that there is still so much left to learn in this genre. This ‘Buy Back Your Time’ summary by Bookish Talks will give all the necessary details from the book.
About The Author
Dan Martell has been all over the internet in recent times. His website (https://www.danmartell.com/) introduces him as be Author, entrepreneur, coach, and Humanity’s Biggest Cheerleader. He is much more than that. Once you start listening to him, you will get hooked on his aura. Highly recommended to be listened to.
Having the book and the author introduced, it is time to dive deep into the basic teachings of the ‘Buy Back Your Time’ book.
Dan Martell’s Tough Beginnings – Buy Back Your Time Summary
Dan Martell had been an annoying Canadian kid from Moncton, New Brunswick. He was so off track in his early life that his mom had to call the police to get him arrested. He had a failed attempt to run away from the police and had to spend six months in adult prison for his violations and crimes. During his confinement in the prison cell, Dan Martell was counseled by policeman Brian. From that point onwards, he was never the same.
Dan Martell Jumps Into Business at 18 – Buy Back Your Time Summary
There is a reason why Dan Martell makes sense to all that he says and writes. He has been a business guy since 18 year age of. He first opened a vocational rental site in 1988 at the age of 18. Since then, he has been to various businesses. Apart from a dozen golden nuggets that he shared with the world about his life and experiences, ‘buy back your time’ is the most influential. It has touched the lives of millions and continues to do so.
Playbook Formula For Growth – Buy Back Your Time Summary
Dan Martell has introduced a unique concept in this group known as the ‘playbook’ formula. This explains the significance of having a set pattern recorded as to how things work. Through that concept, Dan wants to emphasize that a playbook should be able to define a totally nascent person, certain basic questions about you, and your work. This would be a roadmap for any new member and recruit of the company/business.
Business Growth Must Not Take Away Your Life – Buy Back Your Time Summary
It is a very common phenomenon for entrepreneurs. When their businesses grow to the level they always dreamed of, they find themselves stuck in the activities that keep sucking their life and relationships. It becomes very hard for them to step back and let others take on the reins from that point onwards. They consider it wrong to get things done by somebody else. Contrary to that, it is the most logical thing to do. One has to have a team to enable the leader in decision-making, instead of a leader being buried under files and emails all the time.
80 % Done By Someone Else Is 100 % Freaking Awesome – Buy Back Your Time Summary
You can’t expect anybody else to do your job the way only you can. That is okay. You must remember that you are trading all of your time in exchange for some drop in performance. It would apparently look like a drop, but the bigger picture of the story would reveal that, owing to your availability to the rest of the bigger tasks, your allocation of some tasks to others will actually be beneficial for businesses. Even if the person performing your job is not performing the way you would have. Remember, 80% done by someone else is 100 % freaking awesome.
10-80-10 Rule By Dan Martell – Buy Back Your Time Summary
Here is the trick of buying back your time without harming the results. Dan Martell calls it the 10-80-10 rule. According to this rule, if you are hiring someone under a buy-back strategy, the initial 10 percent of the task should be done by yourself. You should be the one who gives the initial direction to the project. The next 80 % of the task, that is, the meat of the project, should be done by the person you have hired. Lastly, the final 10 percent, i.e, packaging and presentation of the project, should be done by you again. That way, you avoid the time-consuming labor and at the same time produce the desired results.
Only Do The Tasks That Light You Up, Allocate The Rest – Buy Back Your Time Summary
As an entrepreneur, you will be good at only a handful of things. The rest of the things will have to be done to support those. For example, a world-class wedding photographer, who enjoys his job, must not be good at keeping accounts and preparing invoices. Anyone who would spend doing that would steal away his wealth and opportunity. He should only be focused on doing the things that light you up. Those are the things that will make you money. Buy back your time for the rest of the menial tasks on the principles as shared by the book.
Only I Can Do This Right (That Is The Problem) Rest – Buy Back Your Time Summary
If you are a business owner and you hear some say to you that you are the only one who can do it correctly, that is not a compliment. Being a business owner and entrepreneur, you have around you a team that can clone you. A team that can think like you and make decisions like you. That way, you are not only empowering others but freeing up your own time as well to do the things that are most valuable to you and your business.
Doctors & Pilots Have Checklists, So Should You – Buy Back Your Time Summary
The checklists for anything are as boring as they probably can, but guess what, those get the job done. That is why the doctors and pilots, whose precision matters over life and death, have a certain checklist that they follow strictly. You adopt the same for your business, and you will be amazed to see that you miss out on important things less often.
What I Learnt From The Book Buy Back Your Time by Dan Martell
This book has taught me two valuable things. One, the importance of proper allocation of time for the entrepreneur. Two, how to hire properly. With these two principles learnt, any entrepreneur and business owner can benefit massively from this book.
Similar Books To Read
If you find books like this interesting, you might find BE 2.0 and The Psychology of Money very fascinating and interesting to read.
Conclusion
To conclude book ‘Buy Back Your Time’ by Dan Martell is a must-read for every aspiring entrepreneur. It teaches you how to allocate the transferable tasks to your team and do only the essential tasks by yourself. It also teaches you practical steps to take to buy back your time and live a happy life.
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