The Game with Alex Hormozi Hourly Rate Magic | Ep 241
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Sep 29, 2020 Discover the magic of calculating your true hourly rate and why it's crucial for business success. Learn how to value your time effectively and identify money-making activities you might be avoiding due to ego. Explore strategies to enhance your skills and maximize earnings. With real insights from an entrepreneurial journey, this discussion reveals how to leverage high-level skills for greater profit.
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Calculate Your True Hourly Rate
- Calculate your true hourly rate using your profit, not revenue, divided by hours worked.
- This helps quantify the value of your time and identify tasks you should delegate.
Delegate Lower-Value Tasks
- Use your hourly rate to decide which tasks to do yourself and which to outsource.
- Strive to increase higher-level activities and delegate lower-value ones.
Smoothie King Savings
- Alex Hormozi recounts avoiding expensive lunches at his $6.75/hour job.
- He realized spending half his earnings on lunch wasn't worth the time invested.