Business Management

Want to Make $1,000 or More Per Hour?

Expertise: Landlording & Rental Properties, Personal Development, Real Estate News & Commentary, Real Estate Investing Basics, Business Management, Flipping Houses, Mortgages & Creative Financing, Real Estate Deal Analysis & Advice, Real Estate Wholesaling, Personal Finance, Real Estate Marketing, AskBP
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(I originally wrote this article a few weeks back for entrepreneur.com, and the awesome editors there allowed me to republish it there. To see the original post, click here.)

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How would you like to make $1,000 per hour?

No, you don’t need to go to law school or become a doctor. In fact, you can start making $1,000 an hour or more right now.

This is not an article about some new multilevel marketing company or passive income stream. You can achieve these results in your current business, knowing what you already know.

And best of all — you can make this money consistently.

Related: The 80/20 Rule of Time Management: Stop Wasting Your Time

I recently listened to 80/20 Sales and Marketing by Perry Marshall on Audible. Like these books I mentioned a few weeks ago, 80/20 Sales and Marketing is changing how I think about business. (Whether you are in sales and marketing or not, pick up a copy of this book today. Trust me.)

In the book, Marshall explains how in a typical day, a person does numerous tasks that are worth just a few dollars per hour, and a few small tasks that are worth much more.

How Much is an Hour Worth?

Nearly every task on earth could be outsourced, for a price. If you want to get ridiculous, you could even hire a butler to pick you out of bed, carry you to the bathroom, and brush your teeth for you. While I don’t recommend this, let’s expand on this topic.

If you are mowing your lawn for one hour, how much are you earning during that time? You could have paid the neighbor’s kid $10 for that work, but instead you did it yourself. You earned $10 for that work.

Look at you, big-shot entrepreneur! You should be proud.

Now, maybe you already hire a kid to mow your lawn. But what about checking your email? Your Facebook? How much is that worth?

You could probably get that done for around $10 an hour also. Maybe less.

OK, Brandon, I get it: outsource more. But how does that help me earn $1,000 an hour?

Hold your horses, we’re getting there.

Just as there are certain tasks during the day that are worth very little, there are other tasks that are worth more. For example, hiring new employees.

If you are the CEO of your company, you are likely still hiring your own employees, sifting resumes, doing interviews and making offers. But how much is that task worth, per hour? What would a competent person charge to do such a task for you: $30 to $50 an hour?

Let’s be excessive and pretend we all live in San Francisco. A good HR person might cost you $100 per hour. So by doing all the work of hiring new employees, you are making a whopping $100 an hour. Look at you, hot shot! Your parents would be proud.

But I’m not done yet.

What about the tasks during your day that are worth much more. I’m talking about those special moments when you make a huge sale, land a big client, install a new product or reach 50,000 people on a podcast.

Those moments are worth much more. Those moments, even if they last only a few minutes, can be worth $1,000 an hour or more.

Related: The One Productivity Hack Every Entrepreneur Needs to Incorporate

Consistency is Key

Let me ask you a few questions:

  • How much time today did you spend doing tasks that were $10-per-hour tasks?
  • How much time did you spend doing $100-per-hour tasks?
  • How much time did you spend doing $1,000-per-hour tasks?

My guess is you probably spent a lot more time doing $10-an-hour work than $1,000-an-hour work. In fact, I’d guess you are spending 99 percent of your time doing the former and just 1 percent doing the latter.

But what if you could spend more time doing $1,000-per-hour work and less time doing $10-per-hour work?

You can!

I know what the naysayers are thinking right now: “In order to have those $1,000-per-hour moments, you have to spend a lot of time on the $10-per-hour administration tasks.”

True.

However, do you need to spend that time on the $10-per-hour tasks? Can you train someone else to do all those tasks for you? Why can’t they do the windup and you throw the pitch?

Everyone can earn $1,000 an hour. Even a fast food employee has tasks that, if only for a few seconds, are worth $1,000 per hour. The key is in consistency, and increasing those moments in your day.

The more time you can spend doing $1,000-per-hour tasks the more money you, and your business, will make. It truly is as simple as that.

If you currently spend 30 minutes per day doing $1,000-per-hour tasks and the other seven and a half hours doing $10-per-hour tasks, you are bringing in $575 per day for your business. But if you spent two hours per day doing $1,000-per-hour tasks, and six hours doing $10-per-hour tasks, you are bringing in $2,060 per day for your business.

Do you see the power in this?

The best part isn’t even the money, it’s time. What would be better? Spending 12 hours per day doing $10-per-hour work or one hour per day doing $1,000-per-hour work?

Exactly.

Take a minute right now and write down what tasks in your business are worth $1,000 per hour? What tasks are worth $100 per hour? What tasks are worth $10 per hour?

Start outsourcing the $10-per-hour jobs out today, followed by the $100-per-hour jobs.

Watch how fast your business explodes.

Photo Credit: http://pixabay.com/

Brandon Turner is an active real estate investor, entrepreneur, writer, and co-host of the BiggerPockets Podcast. He began buying rental properties and flipping houses at age 21, discovering he didn’t need to work 40 years at a corporate job to have “the good life.” Today, with nearly 100 rental units and dozens of rehabs under his belt, he continues to invest in real estate while also showing others the power, and impact, of financial freedom. His writings have been featured on Forbes.com, Entrepreneur.com, FoxNews.com, Money Magazine, and numerous other publications across the web and in print media. He is the author of The Book on Investing in Real Estate with No (and Low) Money Down, The Book on Rental Property Investing, and co-author of The Book on Managing Rental Properties, which he wrote alongside his wife, Heather, and How to Invest in Real Estate, which he wrote alongside Joshua Dorkin. A life-long adventurer, Brandon (along with Heather and daughter Rosie) splits his time between his home in Washington State and various destinations around the globe.

    Jarred Sleeth Lender from Baltimore, MD
    Replied over 4 years ago
    Interesting post, Brandon! Doing your businesses most expensive work will certainly allow the little things to be outsourced efficiently. I think I might have to pick up a copy of that book.
    Brandon Turner Investor from Maui, HI
    Replied over 4 years ago
    Thanks Jarred! And yah, it was a great book. I listened on Audible 🙂
    Brandon Turner Investor from Maui, HI
    Replied over 4 years ago
    Thanks Jarred! And yah, it was a great book. I listened on Audible 🙂
    Tony M. from Lincoln Park, New Jersey
    Replied over 4 years ago
    I wasted lots of my time reading this. The real point is do things that make money and not cost money.
    Brendan M. New to Real Estate from Colorado Springs, CO
    Replied over 4 years ago
    I think you missed the point. All of the tasks Brandon mentioned are ways to make money. Outsourcing them even costs money. The point is realizing that as an entrepreneur or real estate investor, you are 100% in control of what tasks you choose to allocate your time towards, and thus you are the only one who can dictate what your time is worth. The most successful realize this and develop systems to minimize the amount of time spent doing tasks that undervalue their time. That’s not to say that you always need to be doing something that earns money either. If you find that by reading 2 hrs every day helps you become a more savvy investor, then it very well could be worth $1000 an hour in long term gains. Or if you find taking a nap in the middle of the day helps you stay energized and focused late into the evening, then that nap is worth your time. Conversely, if you outsource all your $10/hr tasks then play 9 hours of video games and do nothing to create value with your time, you’re not going to be successful either. Really I think the main takeaway is to identify what tasks you do or skills you have that really make you money. If you try to outsource your $10/hr tasks before identifying your $1000/hr ones, you’re going to find you have a lot of free time with little clear direction as to how to spend it. Once you identify those $1000/hr tasks, the next step would be to develop a habit of being cognizant of what you’re doing at any given moment and consider if you could be spending your time more effectively to further your goals (and then act on it!).
    Brandon Turner Investor from Maui, HI
    Replied over 4 years ago
    That just tells me you are not ready for it, Tony. Re-read this in 5 years… it will change your life. Best of luck on your $10 tasks!
    Jimmy Hemminger
    Replied over 4 years ago
    I joined bigger pockets for new friends, investors, cash buyers, as I start a new rehab business on vacant homes for rehab. My new company, JR The Rehab man LLC. I specialize in Victorian style restoration artist. As a perfectionist painter, carpenter, hardwood flooring installed.
    Kiel
    Replied over 4 years ago
    Have you thought about reaching a younger clientele by posting before-and-after photos on Instagram? I’m 26 and would love to have a Victorian style home – as do most of my peers. I think the millennials would be a gigantic untapped market for you. Good Luck!
    Cydni Anderson Real Estate Agent from Long Beach, California
    Replied over 4 years ago
    Hey Brandon, I think you make some interesting points. My ex was someone who grew up in a family business and was groomed from an early age to take over. I, on the other hand, grew up with self-employed parents who had deep poverty mentalities. I remember once questioning him (ex) as to why he paid someone to clean his house, do the yard work, why he took his easily washable clothing to the cleaners… (This was before we moved in together.) I learned a lesson that day that I’ve never forgotten, and it was the beginning in the shift in my own thinking from my poverty roots over to believing that a better life might be possible. His answer pretty much mirrored what you’ve written here. Thanks for sharing this!
    Brandon Turner Investor from Maui, HI
    Replied over 4 years ago
    I used to laugh at a friend’s parents who did the same. I just thought “lazy.” The irony was, they owned a massive multimillion-dollar plumbing business that employed dozens of people and were incredibly successful… BECAUSE they understood this. It just took me a few years to figure this out 🙂 So I hear ya !
    Karen Rittenhouse Flipper/Rehabber from Greensboro, NC
    Replied over 4 years ago
    This is fabulous, Brandon. I have a personal chef come in twice a month to prepare all of our meals. People with a $10/hour mentality think I’m lazy and rich. People with a $1000 per hour mentality think I’m practical. Think bigger! 🙂
    Brandon Turner Investor from Maui, HI
    Replied over 4 years ago
    Love it Karen! Not a bad idea at all. I’ve been hiring all my lawn care, maintenance, etc – and spending most of my time working on a new book and getting my newest rental rehabbed. It just makes so much sense now 🙂
    Nate T. Investor from Tempe, Arizona
    Replied over 4 years ago
    That sounds cool. How much does a personal chef charge to come twice a month and prepare all your meals?
    Karen Rittenhouse Flipper/Rehabber from Greensboro, NC
    Replied over 4 years ago
    Hi Nate: About $500 including food. You can pay more or less depending how many meals you have prepared. Occasionally we eat out or just have a salad for a meal, but this covers everything we need for the month. I love it! And, if I can do one extra deal a month with the free time……..
    Karen Rittenhouse Flipper/Rehabber from Greensboro, NC
    Replied over 4 years ago
    That’s $500 every time she comes. About $1000 per month.
    Erik Drentlaw Real Estate Investor from Richardson, Texas
    Replied over 4 years ago
    Let me start out by saying I love the site and especially the Podcasts. I think the content you produce is awesome. However, I am so tired of these blog posts! OOhh Coool I’m going to start making $1,000 an hour after reading this! Fantastic!! Oh wait…. No…. I understand trying to get readers but this title just is hype to get people excited. Nothing in this article explains how I am going to start making $1,000 an hour. However, it does assume I already make $1,000 an hour and explains that I should hire people to do the small stuff! Good idea! Then I can just continue on making $1,000 an hour all day long! Wait one second, I don’t make $1,000 an hour… I get I do.. I should be making deals not reading blog posts! jk 🙂
    Patrick McMahon Investor from Parkland, Florida
    Replied over 4 years ago
    Erik, You are correct that Brandon’s post doesn’t tell you how to earn $1,000 an hour. Obviously, there are lots of posts on Biggerpockets that give the details of how to make $1,000 per hour closing deals, but this post is about time management. Suppose we take it out of the Real Estate realm to the life of a High School teacher. He can tutor Math after school for $60 an hour (which works out to about $30 an hour after travel time and scheduling and is really about 2 hours of my life). A local lawn company charges $30 to cut & weedwhack a lawn here. I can do it myself in 2 hours. Should I “save” the $30 and do the yardwork myself? Or should I spend those same 2 hours to earn $60 tutoring and pay the lawn guy? The math works even if there is something you can do that you earn $20 an hour. Pay the lawn guy! * *unless you just like the exercise and being outdoors.
    Brandon Turner Investor from Maui, HI
    Replied over 4 years ago
    Erik, I appreciate the comment, but that’s just not correct. You DO make $1,000 per hour in some of your tasks, already! I don’t know your story, but according to your BP Profile, you own a Duplex in Dallas. How many hours did it take you to acquire that duplex? 100, perhaps? How much wealth, over the next 50 years, will that build for you? I betcha if you do the math, you’ll find the time spent acquiring that asset were worth FAR more than $1,000 per hour. So why are you commenting on a blog post (a $2 per hour job) when you could be finding another Duplex in Dallas? ( lol, I like the comment, but I’m making a point!) There are likely many other areas in your life where you earn $1,000 or more per hour, but those times are probably just a couple minutes per week or month or year. So you want a simple answer on how to make $1,000 per hour? Do more $1,000 per hour tasks, for longer! The point of the article is to make you think like a business owner – what in your life is worth $1,000 per hour, and what is not? I know you came to the post looking for a get-rich-quick method to make $1,000 per hour, but truth is never that easy.
    Jason Miller Investor from Aurora, Colorado
    Replied over 4 years ago
    Brandon, I think your reply here touches on some of the ideas these readers were reading the article for. Perhaps a followup? Either way your point is valuable. My coach always says, focus on paydays. If what your doing now is not working towards a payday, stop doing it. Gary Keller tapped expressed it very well in “The One Thing” which you led me to read.
    Sandra Han from Portland, OR
    Replied over 4 years ago
    I’ve to agree with you, Erik. Although I did learn something valuable here, I was also looking forward to some tips on how to actually make $1k an hour. 6/10.
    David Pickard Homeowner from Rutherford, New Jersey
    Replied over 4 years ago
    Great post Brandon! Lately I have been feeling so overwhelmed with chores that have been piling up at home. I have been trying to come up with new ways to be able to get it all done and spend time with my family while not at work. Well your post made the light bulb go off.
    Brandon Turner Investor from Maui, HI
    Replied over 4 years ago
    Thanks David! Yeah, same here. I started outsourcing a lot of my stuff recently and really focusing just on the high-impact stuff, and the last 100 days have been crazy good 🙂
    Brandon Barnic Flipper/Rehabber from Horseheads, NY
    Replied over 4 years ago
    This is amazing.
    Ayodeji Kuponiyi Investor from King of Prussia, Pennsylvania
    Replied over 4 years ago
    Great article Brandon!
    Jeff Arndt Investor from Pittsburgh, Pennsylvania
    Replied over 4 years ago
    I grew up in a do-it-yourself family. My dad shakes his head, very vigorously, every time I call the plumber to fix something for me. I can either A: Go to the property, diagnose the problem, drive to the hardware store, come back and realize I forgot something, drive back, fix it….poorly, have another issue arise from it down the road. Or I can B: Call the plumber, pay the bill. I don’t even have to call my tenants to let them know I’m coming! The plumber does it for me! I can easily earn more working “on” my business. Not “in” it.