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 more problems coming to you. This is because there’s more complexity in your business. You’ll experience more team member issues, and you almost grow to resent your own business. However, there is a better way, and it’s called The Buyback Principle.

Dan Martell’s Principle
I learned this from one of my personal coaches, Dan Martell. He coached me to understand that there’s a better way to do business. The strategy is to take the business revenue as we grow and buy back more time. For example, I recently onboarded a client success manager. Currently, she’s working 10 hours a week to handle areas of growth that needed some additional support. Those 10 hours a week bought back some more of my time. Realistically, everyone I hire is chosen for their ability to buy back more of my time so that I can grow the business.

Buy Back Your Time
The goal is to create 3-4 hours of freedom in my schedule each week so that I can create 10x growth in my business. The Buyback Principle is a strategy to hire and buy back your time instead of hiring to grow the business. The true “unlock” is when things that you are doing may be shuffled around or put off by a $15/hr task. When you hire to handle those $15/hr tasks, you can go back to the moneymaking activities. If you don’t, then you’re just creating more overhead.
I recommend using our Time and Energy Audit tool to discover where you are spending your time and what it is costing your business. Then, create a plan to hire so that you can buy back your time.
Grow Your Leadership
Bradley has many resources to grow your leadership in the area of vision and priorities. Check out a few of them:
Stop trying to use fancy methods and complicated strategies in your business. Don’t be cute: keep it simple and effective. Shiny Business Syndrome Keep reading…
In this training, I’m sharing the Thinking Time question that has recently provided the most transformative answers for my business. Keep reading…

It’s difficult to get to your destination if you aren’t sure where you currently are! After all, the path from Minnesota to Canada is very different than the path from Mexico to Canada. If you aren’t certain where you’re at today in business, you need to take the Rainmaker to Architect assessment. It will gauge your strengths and weaknesses as a leader and in your business. Then, you’ll get detailed, specific suggestions for improvement. Take the assessment here.