In order to free up more of your time (and consequently design a machine that will earn money while you do not work), you can get a virtual assistant. Such a person can do a lot of things for you, such as:
You can get VAs with different skill levels, such as VAs who will help you with financial reports or business plans.
Step 1: Use this decision flow.
For each task that is on your list (or in your head), decide what to do with it.
Eliminate tasks that can be eliminated.
If the task will not give you more money or is not an obligation, most likely it can be eliminated.
Automate what can be automated.
For example, forwarding certain emails to partners.
Outsource what’s possible to outsource.
If there are tasks that you like to do, don’t outsource them.
Do the tasks that are left.
The only tasks left are those that must be done, and you are the only person who can do them.
Step 2: Find a Virtual Assistant (VA).
The biggest decision here to make is if you want a VA from your country or a remote VA. A remote VA is much cheaper (a few times cheaper) but will be able to do only simple tasks. In this case, remember to hire someone who has “excellent” English—indicate that phone calls will be required (even if they won’t be).
Advice from the HabitCoach team: Hiring a good and cheap VA might be difficult; however, nowadays it can be very simple by using an online service like www.upwork.com. This is highly recommended.
Step 3: Learn to delegate.
Follow these simple principles to delegate well.
Give precise directions.
Instead of asking, “Did you understand?” ask your VA to rephrase the task.
Set a time limit (don’t give permission to waste time).
Some VAs will take a huge amount of time to complete your task, even if it takes 10 times more than you assumed.
Set a short deadline.
It should be no more than 72 hours.
Set order of priorities and don’t give too many tasks at once.