A YouTube monologue titled "This 1 Principle Could Change Your Life" that explains the principle of opportunity cost and advises delegating tasks that cost less than your hourly rate. The speaker gives concrete examples from college (delegating oil changes and car washes) and from real estate work, describing an early hire of a virtual assistant to handle data entry and lead-importing so the speaker could be first to call prospects. The speaker notes discovering offshore virtual assistants in 2011 and that their first VA cost about $4/hour.
Questions this video answers
2011
$4 per hour
In school, I learned one principle that changed my life. And the principle was called opportunity cost. And it just basically means that how much you make an hour, and if you. And to delegate anything less than, like, if it costs less to delegate it, to basically delegate it off. So if my goal is to make $50 an hour, anything that costs less than $50, to hand it off to somebody else. So even when I was in college, I delegated oil changes. I delegated car washes. I delegated very simple things because I always knew that my time was worth more, and I knew that time was extremely valuable. So when I got into real estate, my very first hire was a virtual assistant. I became aware in 2011 that I could hire virtual assistants in different parts of the country and that they would work for what I thought was very little, but to them was a lot of money. So my first virtual assistant cost me $4 an hour, and I'd probably say within a year of being in the business, I hired them initially. So it would get to the point where I prospected a lot in my career. So me and two agents would show up to the office at the same time. I would jump right on the phones. The other agent would have to import his leads to his dialer and do all this data entry stuff. And I would show up, and I would have that already done, which allowed me to be the first person to call these expires. We would show up to the office at the same exact time, and it probably cost me, like, $2 a day to do that. It would also reduce stress because the other agent was trying to hurry up, type everything to get on the phones, and I just show up, put my headset on, and be like, all right, time to dial.
