There are many concepts and frameworks that have had an important place in my systems for business growth, but the one that I have personally seen create the most impact is The Buyback Principle.

What Is The Buyback Principle?

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. 

More Work Hours Do NOT Equal More Revenue

If you think about a business owner that does $400k in top line revenue, the amount of hours that they’re spending they’re working may be 50 – 60 hours a week. Unfortunately, they never can find a break. They take work with them everywhere that they go to achieve those results. Yet, when you look at an owner whose business generates 10 times that, you assume that they’re working 10 times harder.  The reality is that they’re not working harder, they’re just getting more out of their work.

As your business is growing there’s mo