success - Turbo Coach, achieve breakthroughs - Brian Tracy

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TurboCoach
by clarifying your decisions regarding the best use of your
time.
Hourly Rate
One easy way to differentiate between your high-value and
low-value activities is to ask yourself this question: Would I
pay someone my hourly rate to perform this task? As a simple
rule of thumb, to calculate your hourly rate, divide your
annual income by 2,000. If you are earning $100,000 per
year, for example, your hourly rate is $50. A $150,000 annual
income translates into a $75 hourly rate. A $50,000
annual income is equivalent to $25 per hour.
A few years ago, one of our coaching clients, a young
woman in the financial services industry, shared with her
coach that she spent two hours each morning delivering
doughnuts to her clients. She explained that this was her way
of letting her clients know she cared. Her annual income was
$75,000 and her goal was to earn twice as much. When her
coach asked whether she would pay someone $37.50 per
hour to deliver doughnuts, she replied, ‘‘Of course not! Do
you think I’m crazy?’’ Then she got the significance of his
question. Her own hourly rate was $37.50. In essence, she
was paying this amount—to herself—to have doughnuts delivered.
She decided to hire a student to perform this task
each morning and paid him $10 an hour. This freed up two
hours each day—the equivalent of more than one working
day per week—to devote to her high-value activities. Within
ten months, she reached her goal of doubling her income.
You can experience the same positive impact on your
productivity by diligently applying the 80–20 Rule in your