Hey, today I want to talk about one of the most important things that there is, and that is hiring people. I've done everything wrong, and I've done a lot of things right. I've hired some great people and hired some hard people that didn't work out and everything in between. And so I want to just give you guys just a big overall arcing understanding of what I've done, what I've learned. And I want to frame it inside the idea of it being kind of a, what I'll call

the Ten Commandments of Hiring and Managing. I'm going to do a little bit of managing in there because it's not good enough just to hire. You could hire a Rockstar, an absolute perfect rock star and still screw up the kind of management a little bit. So I'll talk a little bit about that as well. With that said, let's move on this thing. Let's have today's master class on hiring. The Ten Commandments on hiring and managing a rock star team.

Hiring is like the ultimate asymmetric bet, right? So getting good people in there can make you 10 times or even 100 times what they cost. Good people and having a team around you will help you focus on more of the important things in your business. It's going to help you really scale this thing up and to do more of what you like to do and less of what you don't like to do. And we all know that in our bones, like in our soul, that this is a good idea. Most of us struggle with it because it's not super easy. And I've made every single mistake you could possibly make in hiring. Maybe that, everyone. I don't think I ever punched anybody in the face or an interview, but I've made a lot of mistakes in hiring people and so i'm going to talk to about today a story i often tell you heard me say it before but i'll say it again i hired an assistant years ago my very first employee ever hired an assistant uh i sat up with the computer i rented an office for her she was going to be my digital assistant help me with all sorts of digital stuff and like podcast this is back of bigger pockets days podcasting and YouTube and all this stuff she's going to compress files down and handle my email and all that and day one I'm like all right so it's it's onboarding let's do some training I go to your desktop and she goes what's that and I was like it's it's like the computer screen it's like the main page on the computer.

And she's like, oh, with all these little cute little button things, I'm like, yeah, those are icons. And I was like, oh, geez, have you ever used a computer before? She's like, nope, first time. And I'm like, this is great. I hired my very first employee ever had never used a computer and I hired to be a digital assistant. Thankfully, she was really motherly. She didn't have kids, but she was really motherly.

And we were pregnant at this time with Rosie.

This was nine years ago.

And so we just shifted her. She put together the crib. She went shopping for us. And she became much more of like a mother's helper role. But I never did get that assistant right then. I had to wait another year until I tried somebody else, screwed up on that one, tried somebody else, screwed up with that one. Hired a virtual assistant over the Philippines. A whole year went by. He did nothing.

I didn't know what to have him do and i didn't even know if he was good or not he was great actually but it took a year for me to figure out how to work with him i'm going to try to cut that short for all you guys today and as much as i say that hiring is an asymmetric bet hiring the wrong person is an asymmetric bet in the other direction? You might spend 50 grand or 75 grand or 10,000 or 100,000, whatever it is, and it might cost you hundreds

of thousands of dollars in missed opportunities, in stress, in drama, in lawsuits, in a lot of things,

right? So it's such a massive piece of leverage. We're real estate investors. We understand leverage. A small thing moves a big thing. The right person makes all the difference in your life. And so I'm going to go through all the 10 commandments of hiring. I thought it'd be a more fun way to explain this. And then we'll do some Q&A at the end. We'll just go through it. Does that sound good for everybody? Good. You have no choice. All right, here we go. Number one, thou shalt hire to buy back thy time not to fix thy biggest problems. Now, that might sound counterintuitive for those who haven't read the book, Buy Back Your Time from Dan Martel. But the idea here is simple. Like, you are the expert at your business. You know more than anybody else about your business. I must mean you're all real estate investors. So you know more about what you're doing than anybody else. A lot of people make the mistake, first of all, of going, oh, I can't find deals. I better go hire someone to find deals. Or I have no money. I better go find somebody to money. They think of what's their biggest bottleneck, what's their biggest, the biggest lever they could possibly do? Let's go find

somebody to do. They think of what's their biggest bottleneck? What's their biggest, the biggest lever they could possibly do? Let's go find somebody to do that job.

But in reality, again, nobody is going to do that as good as you, at least not right now.

I mean, yes, you can find people to do that and we can get there. But what Dan recommends, and I tend to

recommend, it's always worked out the best for me, is hiring from the bottom up. You got to get out of your $5 an hour tasks first so you can do $10 an hour tasks. And then you get out of your $10 an hour tasks so you can do $20 and $30 and $50 and $100. And you slowly buy back your time from doing mundane stuff to doing more important stuff. So you're doing the heavier stuff.

And eventually you get to the point where you can hire people to find deals and find money for you. Sure. But right now, that's your biggest leverage point. So you need to be freed up from everything else. Stop mowing your lawn. Stop going to the grocery store. Stop maybe cooking meals. Again, if you love that stuff, then do that stuff. but we want to buy back our time, get us time freedom.

And so the first hire is usually... again, if you love that stuff, then do that stuff. But we want to buy back our time, get us time freedom.

And so the first hire is usually not somebody to find money, deals, or whatever.

It's usually a personal assistant, a nanny, a housekeeper, a meal prep person, a landscaper.

It's those type of things are typically your first hire because they are the biggest

leverage points to you freeing up your time. So thou shalt hire to buy back thy time, not fix thy biggest problems. Moving on. And by the way, take some notes. We'll do Q&A, like I said at the end. So if you're like, oh yeah, I want to ask a question about that, just jot down a note real quick, we will do Q&A, I promise.

You could also toss them in the chat area here.

That'd be cool too, and I'll try to come back to him, but just in case I don't do that. Yeah, meal prep services are game changer. I just wish we had one on Maui. We got nothing on Maui. I got one private chef guy who's like, I can do it for you for seven grand a month. No, no, I'm not going to do that. Now, in reality, though, I might make more than that if I hired that. I just can't do it. It's principle. I can't do it. All right, moving on. Number two, thou shalt fully define the role, responsibilities, and culture before seeking a candidate. Again, a huge mistake that I have made and other people have made, including my very first hire I had and probably all the way up until hire as I had like this year is I hire someone out of desperation real quick. Like, I just need somebody to fix this problem. I got to fire. I got to put out. I'm going to hire someone. And I haven't fully defined exactly what is the actual role. What are the bounds, the left and the right that they are going to work within? What's the container that they operate in? Who do they work underneath? Who's their boss? Who's in charge? What is their actual duties and responsibilities on a day-to-day basis? And then where does that fit within the culture? Like, what do I want for somebody? And when I say culture, one thing that we do is we do what's called a PI test. There's a lot of different personality test you can do. You know, there's the disc profile. That's a great one. We just use one called PI because the, my business coach was big on that one. And the idea being, well, what type of personality or culture fit would this role be really good for? For example, if I'm looking for somebody to just sit at a computer all day and crunch

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