← Action Academy | Millionaire Mentorship For Your Life & Business
Action Academy | Millionaire Mentorship For Your Life & Business
WHO You Should Hire While Building Your Business From $0 To First $100,000 +
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What's up? And welcome back to another episode of the Action Academy podcast. The whole reason that we have this show is so that you guys can replace corporate with cash flow and go from being a high performing employee to being your own boss running your own business. And I will be the first person to tell you, as somebody that teaches you guys how to do passive income strategies across all of these hundreds and hundreds of podcast episodes, if you can get this tattooed on your forehead or engraved in your skin, please do it. Is this quote, and this is a Brian Lubin original. This is an Action Academy original. The passivity that you seek does not exist without profits and or people. I'll say it again, the passivity that you seek does not exist without profits or people. Even going down to the single family rentals. If you're buying a house and you move away and you are not managing the house, somebody is managing the house. The that is people. So what we're talking about today is a topic that I was very confused about and I couldn't seem to find a resource on anywhere across the Internet in any books, any podcast episodes. And that is how the hell do you hire people when you're first starting your company? I was just like, I get how the big people do it. You hire rock stars, right? But you can't afford a rock star in the beginning. And I don't even know what positions I'm supposed to hire for. Like, do I hire for sales? Do I hire for marketing, creative, operations, admin? In like what order am I supposed to do this? Especially when I can't freaking afford anybody when I'm first starting out, from zero to my first hundred thousand dollars, how do I do it? Who do I hire? What positions and how? So today's podcast is literally that by the end of our time here together today, in the next 10 to 12 minutes, you will know exactly, step by step, what positions that you should hire when you're starting your side hustle, when you're starting your side business or transitioning fully into your main business, all the way up to your first $100,000 in revenue and beyond. But before we begin, why should you listen to me if you are a brand new listener to the podcast? My name is Brian Lubin. I left a six figure corporate sales job in March of 2022 to travel full time around the world while building my own business from zero to $10 million a year. This podcast is the documentation of just that journey. So I quit that job in March of 2022 and in January 2023, founded my first full time company, the Action Academy Community. And over the last 15 months we built our company up to about $1.4 million in top line recurring revenue, revenue and I believe 10 team members now, 10 employees or it could be better said 10 people on the team, 5 people full time. So I've done what you're trying to do and I'm going to help you do it in a way that is way more smooth and elegant than the way I did it. And this applies if you are starting up an online community and online coaching business. Any type of business, any type of real estate investment, any type of business acquisition machine. If you're doing land flipping, multifamily self storage, if you're buying businesses, doing your own thing, side hustles, this framework should help you. And as always, if what I'm about to say actually does help you and you get value from it, please leave us a five star rating and a review. It takes all of two to three seconds and a swipe of the thumb. And also if you could please share this episode with another future entrepreneur, aspiring entrepreneur so that they can save time, energy and headaches that can be avoided by them learning this today. All right, let's rock and roll. First things first, when you start a company, you are everything. Everything is you. You are sales, you are marketing, you are fulfillment, you are operations, everything. So if you're starting up an investment company where you're trying to do acquisition, I would say focus on the acquisition process. First in action Academy, we teach you guys step by step how to do it. We even help you partner on it. So when it comes to where your focus should go, the process alone is where it should go as the business owner. And if you're starting up your own thing, your own service, your own offer, all of your attention should go towards your product or your offering. Before you're thinking about sales and marketing, you focus on the product, you focus on the offering. Because the best sales is great marketing and the best marketing is great product. So day one, all you're focusing on is the back end operations. That is what you're doing. You're making sure that your machine is running and that your offer is smooth. Then as soon as that happens, you are now going to move into sales and marketing which is going to be getting eyeballs and new customers for your offer and or filling up your pipeline and filling up your funnel with potential leads for your real estate or business acquisition. Does that make sense? So start with operations. Then you start bringing in traffic to the thing at this point, it is your job as the entrepreneur, as the business owner to roll up your sleeves, get in the trenches and get good at the stuff. Like this is not where we delegate, elevate automate, we don't do any of that shit here. You just roll up your sleeves and get good at it. This is even to the point where people that I know that own 50 to $100 million of multifamily, they still started as property managers, they still swung the hammer, they got in there in the very, very beginning, they got gritty, they got trench level knowledge. There is no substitute for this. Alex Formosi calls it your rocky cut scene like you're punching the frickin meat in the deli. You know what I mean? There is no escaping hard. You have to do the stuff, to get good at the stuff, to be able to teach the stuff to other people in the very beginning of the business. So for acquisition you are cold calling the brokers, you are underwriting the properties, you are submitting the offers, you're doing what it takes, you're doing everything. Then if you're starting up your own company and you have your own offer, you're doing the sales calls, you're making the Instagram post, you're doing all the stuff yourself. And now it's your job to sprint as fast as humanly possible to get your first dollars of revenue. Okay? Revenue is king. And to prove what I just said, I did a thousand, one thousand sales calls myself for Action Academy. The first 1,000 people spoken to were from me personally. And that does not include the hundred people that I coached for free to launch Action Academy. That includes for the last 13 months. Now, I don't do sales for my own company. Now it's people that are better than me because they're actual members of our community. But before it was me doing the sales calls. So that allowed me to get to know the customer, get to know very, very intimately what their pain points were and really, really know how to tailor our offer and solve their problems. So you have your product, your systems, your operations set up. You get your first couple of sales through sales and marketing. From the offer side, you get your first couple of deals coming through the pipeline. That doesn't necessarily mean that you close on the investing side. Now the first person, the first position that you're going to hire is going to be admin. You are hiring an admin assistant. This is going to be a virtual assistant, primarily from the Philippines. We are doing the Philippines first because you can get Away with making cheaper mistakes. I'm sorry, but this is just the cold, hard, plain truth. You are going to be terrible at managing people, at hiring people, at in every single way, shape and form. You are not going to be good. So you cannot make a 40,000, $50,000 mistake. For your first couple of hires. You need to have somebody that's a part time virtual assistant from the Philippines. They are awesome and they're about four to five dollars an hour. All right, so you can have somebody for 40 hours a week that you pay $200 a week for. First position that you hire out, it's going to be an admin coordinator for your real estate transactions and for your acquisition process. Maybe somebody to help with underwriting and someone to help you with the busy fulfillment work from the perspective of you running your own company. But wait, you're not passive yet. Okay? This is just getting started. So now that you have your time kind of bought back, now you go and you reinvest that time back into what was making you the most money, which is back into acquisition and back into sales and marketing. Okay, you are all the way in. And also the places to get these virtual assistants, there's online jobs, ph, there's upwork.com, you can type in virtual assistants everywhere. I think my buddy Nick just bought full ownership of the company. I think he named it to somewhere.com is their new thing. He bought support Shepherd. There's so many virtual assistant companies. So now you have admin for about $200 per week, $800 per month. Now what you're going to do is you're going to hire a revenue generating position. This is going to be sales or it's going to be an acquisition specialist. And again, it's probably going to be someone virtual to begin and it's going to be someone that is variable in commission based, preferably commission only because you can't afford salary yet. You don't have any money. Actually for the acquisition specialist, you could probably get another virtual assistant for that. So that's not that bad. That may be another $200 per week then for your traditional sales and marketing, just get a commission only sales rep. What we did in Action Academy is all of our first hires and hires today are all internal from within our offering. So whenever you're selling people into your course, your service, your community, your whatever your offer, then see if you can elevate anybody up within that because they're already a believer. And believe it or not, with that team of three, you should be able to ride that up to about $500,000 of revenue. That is essentially what we did. No, actually, not essentially. That is literally what we did. I had, I had Caitlin helping me for free and then I started paying her a little bit of money and then I started paying her sales commission and I had Nick that was helping me with admin up to about 500,000. And then I started. So those are the two positions you should focus on. Position number one, admin. Position number two, sales and marketing. Then as your revenue increases, as your lead flow increases, as you start closing some of these deals and getting some profit, taking some acquisition fees, doing some flips, putting some cash in the bank, then you can begin to slowly hire more sophisticated roles and more sophisticated people for those roles. And I can prove this again because I went through, I believe, seven air quotes, executive assistants. Before I had my assistant today, Estefania, who is now like a crucial, crucial part of Action Academy and our entire team. So if I hadn't have figured out how to get hiring, delegation, elevation, Org chart and sops down for the first seven guys, seven, I wouldn't have been able to find my rock star today. And I pay her, I believe all of the other seven combined times six to ten. So yeah, that's how the game works. Same with sales too, because then you get really good at it and you get really good at identifying talent. And then you want your salespeople and your acquisition specialists to be some of the highest paid people in your company. And then after that, keep it as lean and as mean as you can. The name of the game isn't to have a bunch of organizational bloat. You want to keep it as lean and as tight as you can. Because salaries are going to be the biggest thing that will cause you stress as a business owner and you want to keep your salaries down as much as you can, or have people in variable compensation positions. So you can still pay your people a lot, but it's going to be more commission based in the beginning. So when you're first starting out and you're bootstrapping, I would say make your commission tiers and your commission structure higher and then your base salaries lower until you become a bit more mature. Like today for Action Academy. Now we can hire people at above market rate so we can pay high performers, but we bootstrapped and did things the correct way to get here. And in closing, guys, this all works with acquisition too. You're going to have the admin that's helping you with whatever part is the stickiest for your acquisition in the back office, where it's going to be all the underwriting and data collection and spreadsheet entry and then eventually the customer facing position. So, guys, hope this episode today helped. We have a bunch of wonderful episodes coming to you this week on real estate, business buying, business ops. And this is my favorite stuff to talk about. And as you're listening to this right now, I am in Europe having the time of my freaking life. So, guys, I hope that you enjoyed this. And if you want help walking you through step by step, how to do all of this and how to scale faster, like, the people going through our acquisition strategies in Action Academy are learning how to take down like 5 to 10 to 20 million dollar deals. If that's interesting to you, go click the link in the show description and let's talk, baby. See y' all.