Set an Aspirational Hourly Rate
Naval
Naval Ravikant
4.8 • 2.4K Ratings
🗓️ 1 May 2019
⏱️ 4 minutes
🧾️ Download transcript
Summary
If outsourcing a task will cost less than your hourly rate, outsource it.
• Set and enforce an aspirational hourly rate 0:00
• You can't penny pinch your way to wealth 1:27
• My aspirational rate was $5,000/hr 1:56
• If you can outsource something for less than your hourly rate, outsource it 2:57
• Your hourly rate should seem absurdly high 3:39
Transcript: http://nav.al/hourly-rate
Transcript
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| 0:00.0 | So we covered the skills that you need to get rich. |
| 0:03.5 | So that was specific knowledge, accountability, leverage, |
| 0:09.1 | judgment, and lifelong learning. |
| 0:12.6 | Let's talk a little bit about the importance of working hard and value in your time. |
| 0:18.5 | So no one is going to value you more than you value yourself. |
| 0:22.4 | So you just have to set a very high personal, hourly rate and you have to stick to it. |
| 0:28.6 | So even since when I was young, I just decided that I was worth a lot more in the market, |
| 0:32.3 | thought I was worth, but I started treating myself that way. |
| 0:34.7 | So always factor your time into every decision. |
| 0:37.9 | How much time does it take? |
| 0:39.1 | It was going to take me an hour to get across town to get this thing. |
| 0:42.8 | Well, I value myself at a hundred dollars an hour. |
| 0:45.2 | That's basically throwing a hundred dollars out of my pocket. |
| 0:47.1 | Am I going to do that? |
| 0:48.1 | You buy something from Amazon, they screwed it up. |
| 0:50.5 | You have to return it. |
| 0:51.5 | Is it worth your time to return it? |
| 0:53.6 | Is it worth the mental hassle? |
| 0:55.2 | Keep in mind that you have less work hours. |
| 0:57.2 | You have less mentally high output hours. |
| 1:00.1 | Do you want to use them to run errands and solve little problems? |
| 1:03.6 | Or do you want to save them for the big stuff? |
... |
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