A speaker introduces the buyback rate, a way to measure whether your time is worth your income. If you're just managing chaos instead of waking up excited, this metric helps you decide what tasks to delegate or eliminate so you reclaim your life.
So as I would hire, I would take on more responsibility because I was overseeing the people and all of my own tasks. And then I realize now when we hire, the importance is for us to be able to be freed up immediately. Martell says the goal isn't just more money. It's a way to create a life where you can wake up excited. So right now, do you, rockstar, do you wake up excited if you don't? If you do, turn off the episode if you don't and you'd like to. Let's get right into these concepts. Cause this starts by understanding a concept he goes over called the buyback rate. Okay, so what is the buyback rate? The buyback rate is a way of helping us understand the value, literally, to the dollar of where we spend our time. So there's a formula that he shares. It's called the buyback rate formula. Your buyback rate is equal to your annual income divided by 2000 times 4. And I don't want to get into the how he created that. I just want to share it with you for an example so you can learn the concept. So you can do it right now as you're driving or working out in your head.