(dramatic orchestral music)
Your hand, if you have the figure, so I know.
Once you have your number.
How much your time needs to be worth.
How many times, yes, question?
Yes?
- [Audience Member] Oh, $150.
$150, good.
- [Audience Member] $300
$300, okay. What are numbers?
Okay, just write them down.
(mumbling)
Put up your hand if you've got the number, so I know.
Okay, couple more minutes.
Whatever it is, divide that.
Everybody has a number?
Yes?
Okay.
But that's not your number, that's not a number.
Here's why.
Because if you are not honest
you are not productive all the time.
There are variables, yes?
So if there are variables, here's the actual number.
You need to times that number by three
because you have productive time and unproductive time.
Because those 220 days, you're not working
every day eight hours a day
you're not always productive, yes?
So what are the numbers if you times that by three.
That's your actual number.
That's how much your time needs to be worth
to achieve your goal.
Don't bullshit me
because I'm not productive all the time.
So if you think about it, to make a million bucks a year
your hour needs to be worth $1,704.54 per hour.
If you want to be a millionaire
that's how much your time needs to be worth.
Now if that's how much your time needs to be worth
tell me what have you learned?
- [Audience Member] Don't have enough time.
You don't have enough time?
You're not charging enough.
No but what have you learned?
What does it mean for you?
- [Audience Member] You're not working well enough.
You're not working well enough, yes.
- [Audience Member] You shouldn't be doing something
that's really easy.
So think about it, that hour you spent mowing your lawn?
That just cost you $1,700.
You think you're saving money?
That just cost you money.
That one hour you spend washing the dishes
that just cost you $1,700.
Burn this in your mind, picture this in your mind.
Every time you do this unproductive task
just imagine you have your wallet
and you're burning hundred dollar bills.
Seriously, that's the mental picture you want to have.
You're burning the $100 bills.
Fuck that's $100, fuck that's $100.
You're burning and not even get much fire.
You can't even do a fucking barbecue with this, right?
It's just gone.
Yes?
- [Audience Member] What if you don't have the money
to delegate that task?
I'm gonna get to that.
How many have this question
what if I don't have the money to delegate?
Yeah, I'm gonna show ways you can delegate for free.
I'll show you in a moment.
So what else have you learned?
- [Audience Member] You have sixteen hours and
you have to leverage it.
Sixteen hours, no but also, think about it
$1,700 an hour is a lot of money.
Is it very difficult to attain?
Can you do it just by you doing the work
and get $1,700 an hour.
- [Audience Member] No.
It's gonna be very challenging, right?
Even top lawyers, how much do they charge?
- [Audience Member] $200?
$230, $300 an hour, right?
Sometimes lawyers, the lawyers bullshit.
They bill you for, oh I've been thinking about
you in the shower and I'll bill you for that shit.
You know what I mean?
Sometimes they can double bill different clients
and they make up all this shit, right?
Even if you do that, that is still a difficult number, yes?
What I'm saying is, so basically you want to hit that number
if you're not making money while you're not working
you won't hit that number.
If you're not, listen closely.
If you're not making money while you're not working
you will not hit the number.
Even though, I don't care how valuable you are
from time to time you might hit it
closed one sale, spent an hour, you make 10,000.
But can you do that every day?
Can you do that seven days a week?
Can you do that consecutively, 220 days a year?
Can you do that?
You cannot.
That's why systematization and delegation is key, yes?
- [Audience] Yes.
So non-productive time, what am I talking about?
Talking to friends, surfing the internet
checking and reading emails, studying-
yes, studying and learning time as far as I'm concerned
learning time is not productive time.
It does not include, okay?
Checking website stats, organizing desk, cleaning office.
Productive time, it means you're doing an activity
that makes you, what?
- [Audience Member] Money.
Makes you what?
Money.
So creating products, closing sales
marketing products, managing money making projects
setting up joint venture deals
create systems to automate business.
Those are productive time, those are productive time.
So non-productive versus productive.
So I want you to think in terms of ROTI.
What is it?
That's return on time invested.
No return on investment and no return on time invested.
I'm investing $1 into this, I'm investing a minute into this
I'm investing an hour into this
what's my return?
Because it's very fair, you and I have
the same amount of time.
You and I and Bill Gates have the same amount of time.
24 hours a day, 52 weeks a year, it's the same.
Bill Gates go to bed, get up in the morning
made millions of dollars.
Return on time invested.
Okay take two minutes, how long?
- [Audience] Two minutes.
Discuss among your table what you've just learned.
(audience mumbling)
Okay stop.
Give the high fives, thank you for sharing.
- [Audience] Thank you for sharing.
Okay let's have a talk.
A-ha moments, a-ha moments.
Doing too much shit, okay, smaller tasks.
Yes?
- [Audience Member] Need a chef.
Need a chef, yes.
(laughing)
- [Audience Member] Don't pretend you can be
productive all day long.
Yeah, don't pretend you can be productive all day long.
In fact, for most people including myself
I think if you're productive one third of the time
you're doing very good.
This is coming from me and I'm fucking productive.
Okay and I'm saying if your day, your working day
if you're one third of your time productive
I think you are doing phenomenal.
There was a study, I forgot exact number
I'm paraphrasing this, the average CEO
has like one hour productive time per month
or some shit like that, yes, yes.
It's startling.
So we are not productive all the time.
Any a-ha moments?
I don't want some generic
I'm not asking you to reflect the answer back to me.
What it means to you, your a-ha moment.
What are you gonna change?
How do you look at your time differently?
What are some of the new things
you might do in your business?
That's what I want to hear, yes.
- [Audience Member] I need to be more efficient
and effective.
More efficient, more effective very good.
Yes?
- [Audience Member] Be productive so I can be productive.
Organize things better, get my workouts in
so I'm feeling healthy for the day.
Nice.
- [Audience Member] Make sure I'm actually reading
so I stay mentally focused.
Nice.
So kind of scheduling blocking time to do that.
- [Audience Member] Blocking in time to do things
that make me more productive.
Nice, very nice, yes?
- [Audience Member] I need to be able to trust others
with things that are critical that I think
that only I can do.
Yes.
Yes and there is a competent guy
and sometimes that's the problem.
We're too competent, we're too good at what we do.
Yes, one more?
- [Audience Member] I'm gonna stand up here.
So I was one of those people that over gave
my time, energy and money and so for the last three months
I decided to do an experiment
and that is I'm just gonna stop it
and see what happens and the result was a little bit
heartbreaking but it taught me a really good lesson.
And that was nobody called me.
(laughing)
and I'm just like wow they're just calling to get, get, get
from me and I realized wow I guess
I need to find some new friends.
(laughing)
so I hope that resonates with someone
I definitely learned my lesson there.
Good, awesome, thank you.
(applause)
and I've been through this.
Again, I used to be the same way and yes, Jo?
- [Jo] I just want to comment on sort of the
phenomenon thing that is between the non-productive
and the productive time and that being resistance
like when you know your core things
that are gonna bring in the money
that's a goal to even be aware of them
and yet you just don't get to that.
Okay, very often, any business
if you look at any business
and I learned this from my mentor, Alan
only two or three critical success events.
What are they?
Critical success events, that's it.
Whatever business you are in.
Two or three things that if you do well
your business will prosper.
Let me give you an example.
Lets say if I want to grow a tree in the back of my garden
what is the first critical success event?
- [Audience Member] Plant the seeds.
I've got to plant the seed.
That's the first step.
I can fuck everything else wrong
but if I plant the seed, right?
That's the first step, right?
What's the second?
- [Audience Member] Water.
I got to water and nurture it, make sure it grows.
What's the third one?
- [Audience Member] Take care of it.
Take care of it.
Maybe nutrition, whatever it might be.
Three things.
Yeah I can kind of mow the lawn, cut the grass
and kind of make sure the dirt is cool
put some decoration, all this is shit.
Three things, plant the seed, water and nurture it.
That's it.
So usually Jo when we are afraid
let's say you are afraid of prospecting
or meeting with people, whatever it is that you do.
Usually means either is a lack of confidence
or fear of rejection or a lack of skill
because oh my god I just talked to another ten people
they all rejected me, I don't feel so good about that
so it's a skillset problem or attitude problem
or a fear of rejection, self-esteem problem.
It goes back to that.
So it's not so much oh Jo here
three steps to solve that thing.
They are often just a mental shift
because when I was a copywriter and I was cold calling
opening the yellow pages and I was cold calling businesses.
I had no money, I wanted to buy food
I wanted to provide for my mom
and I was calling businesses, I was getting probably
a couple 100 rejections every week.
People hang up on me, people swear at me
whatever it might be.
Now, does that bother me?
- [Audience] No.
No, why?
(audience mumbling)
Because I had to provide for my family.
When I think about that, this stuff doesn't bother me at all
so what?
So you reject me, so you say no to me
I've got another 5,000 people to call, hello!
So why does it matter?
It doesn't bother me.
So it is a question of why.
Question of what?
- [Audience] Why.
Why is wrong enough, none of that stuff matters.
So maybe go back to your why
why are you doing it in the first place
then you remember my weekly focus after It the frog
is you do the ugliest, the most challenging task
in the morning because when you do that
when you solve a problem, a complicated task
you feel a sense of joy and it builds your momentum
it builds your confidence for the rest of the day.
So maybe, oh my god, in the morning I've got to call
this client or this prospect.
I'm so afraid, they've been saying no to me for a long time.
I know if I got that deal done, wow I'd feel so good
and the rest of the day is easy.
Does that make sense?
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