Thursday, 1 October 2020

The 4-Hour Workweek: A for Automation

 

The ultimate continuation of Ferriss’ 80/20 and elimination process is to build a system to replace yourself. In today’s article, we will share about The 4-Hour Workweek: A for Automation.

To be one of the New Rich (NR) is not only to work smarter but to be more effective. The goal is to free your time to focus on bigger and better things. If you spend your time, worth $20-25 per hour, doing something that someone else will do for $10 per hour, it’s a poor use of resources. Assuming even if the cost is occasionally more per hour than you currently earn, the trade is worth it. Let us assume you make $50,000 and thus $25 per hour (working from 9-5, Monday through Friday, for 50 weeks per year) and if you pay a top-notch assistant $30 per hour, he or she saves you one full 8-hour shift per week. In other words, your cost (subtracting what you're being paid) is $40 to give an extra day.

A Virtual Assistant (VA) from other developing countries may help you in completing your tasks, at lower cost. Getting a VA, especially a VA from countries with a different time zone, is that the VA can work on your task while you are asleep and have it back to you in the morning. When you wake up, the completed task is in your inbox. 

In short, the action you need is first, to get an assistant, start with some small tasks, then learn to command. Look at your to-do list: which task has been there for the longest? Each time you are interrupted when handling a task, ask, "Could a VA do this?"

But remember: Eliminate before you delegate. Never automate something that can be eliminated, and never delegate something that can be automated or streamlined. Otherwise, you waste someone else's time instead of your own.

The first rule of any technology used in a business is that
automation applied to an efficient operation will magnify
the efficiency. The second is that automation applied to an
inefficient operation will magnify the inefficiency.
—BILL GATES

 

Reference:

Timothy Ferriss, The 4-Hour Workweek

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