The Devil's Advocate

Action points

• There’s a simple exercise to work out what your true hourly rate should be.
  1. Work out how much you want to grow your business by this year.
  2. Divide this figure by 1,740 (the average number of hours we work each year).
  3. That’s your hourly ‘opportunity cost’.
• Now look at every task you do in your business. Anything you do that is worth less than that figure, you should delegate or pay someone else to do. It may seem like a cost in the short term, but it’s the only way that you’ll grow.
• There’s a kicker. You don’t actually have to pay yourself that amount. But you do need to know what it is. And if you don’t take it seriously, don’t scratch your head in years to come when you wonder why you’re still just packing crates.