Simply put, The Buyback Principle is the concept that you don’t hire to grow your business, you hire to buy back your time. In turn, this is what grows the business. Here’s why: The most finite asset that your business possesses is your the founders time, aka YOUR time. In fact, the single most important thing that’s going to grow and scale your company is strategic investment of your time.
Do you think that businesses generating exponentially more revenue than yours are working harder? I don’t. I believe they simply get greater results from each step they take. For example, it seems that when Warren Buffett takes one step, he’s moving 1 million steps further than I would. Why? Because of where he is in his business. Honestly, that’s how a lot of the business owners that are doing the things that we want to be able to do.