64/4, we know the 80/20, 64/4 is the 80/20 of the 80/20. There are really only a few essential things that absolutely have to get done. And we can use some of these techniques in our favor. So I’ll tell you some of the filters I use when I go through my list of things to figure out what I should actually work on.
EHR, Effective Hourly Rate. So is this activity something that someone else could do that I could pay less than what my value is? The first step to really making this work is identifying what your effective hourly rate should be, not what it is. Because when you first work this out, you might cry, so get the Kleenex if there’s any left. And basically, reset the amount higher than what it is. So for me, I’ve always worked with this rule of thumb, an effective hourly rate of $1,000 per hour. That for me, $1,000 per hour is about right.
Let’s extrapolate, what does that actually look like? If you work 100 hours a month and you make $100,000 profit that’s $1,000 an hour. Does that make sense? So now, when it comes down to doing any kind of activity, I think, would I be able to buy that for less than $1,000 an hour? And that turns out there’s a lot of things you can get done for less than $1,000 an hour.
And now you’re starting to find some leverage in that. So I look at the task and I think, well, me creating a training course or me doing coaching, that really is a high effective hourly rate activity. So I want to direct more of my energy there. And you know what I don’t want to do? I don’t want to build my website. I don’t want to send out my emails. I don’t want to transcribe recordings. I don’t want to go and do my social media stuff. So I’ll get someone else to help me with that.
Access the rest of the training inside SuperFastBusiness
See our products HERE