Podcast Title: I Am Charles Schwartz Show
Host: Charles Schwartz
Episode Title: A Fortune from Strategic Firing
Release Date: December 4, 2024
Introduction
In the episode titled "A Fortune from Strategic Firing," Charles Schwartz welcomes Joe Rare, an expert in virtual empire building and remote business scaling. Joe shares his transformative journey from running a traditional agency with a physical office to establishing a thriving virtual powerhouse generating over seven figures monthly—all managed by overseas teams. This episode serves as a comprehensive guide for entrepreneurs seeking to scale their businesses while reclaiming their time and achieving personal freedom.
Joe Rare’s Journey and Background
Timestamp [01:22 – 02:42]
Joe opens up about his humble beginnings, growing up in a working-class family in a small farm town. Despite numerous business failures, these setbacks became valuable lessons that propelled him toward success. Joe emphasizes the importance of perseverance and learning from mistakes, stating:
“I have had more than my fair share of business failures, lots of them. And those have converted into, hopefully, lessons learned so that I stopped making the same mistakes.”
– Joe Rare [01:32]
He recounts how he built four digital companies managed entirely by teams in the Philippines, allowing him unprecedented free time to homeschool his children and control his daily schedule.
The Power of Virtual Empire Building
Timestamp [03:35 – 09:51]
Joe delves into the mechanics of running virtual teams, dispelling the common misconception that managing remote teams is overly complicated. He compares virtual collaboration tools to everyday smartphone interactions, making the transition seem seamless:
“It's no different than somebody being here, you know, in the US or whatever country you happen to be in.”
– Joe Rare [03:42]
One of the pivotal changes Joe implemented was delegating email management to his assistant, Marthina. This shift not only streamlined his workflow but also significantly reduced his daily workload:
“I don't check my email and I have Marthina, who's my assistant, she checks my email, she categorizes everything... I can't answer them. She has to do it right.”
– Joe Rare [04:13]
Joe outlines his strategic approach to managing multiple companies, positioning himself as a strategic advisor who sets long-term plans and delegates execution to specialized teams.
Hiring Virtual Assistants: Strategies and Red Flags
Timestamp [09:51 – 19:54]
A significant portion of the discussion centers on effectively hiring virtual assistants (VAs). Joe advises entrepreneurs to start by clearly identifying the tasks that drain their time and could be outsourced. He emphasizes the importance of hiring specialists rather than generalists to ensure quality and efficiency:
“We don't want generalists, we don't want a bunch of mediocre people who can do like five things. We want somebody who can do one or two things really well.”
– Joe Rare [14:16]
Red Flags in Hiring:
-
Reluctance to Use Video during Interviews:
“If you say, hey, we're gonna get on a video interview, and then they don't get up on video, Red flag.”
– Joe Rare [10:13] -
Inability to Demonstrate Skills: Candidates who cannot provide a solid portfolio or perform in initial tests are immediate disqualifiers.
-
Delayed Communication: Slow response times indicate potential future delays and inefficiencies.
-
Overpromising: Candidates who present themselves as "rock stars" without proven expertise.
Joe underscores the necessity of viewing hiring as a long-term investment rather than a temporary fix, encouraging entrepreneurs to seek commitment and alignment with their business goals.
Cost Efficiency and Budgeting for Virtual Assistants
Timestamp [19:54 – 23:37]
Joe addresses the common misconception that hiring VAs is prohibitively expensive or only feasible for large budgets. He outlines realistic pricing expectations for quality virtual assistance in the Philippines:
“Expect to be paying 8 to 10 bucks an hour for dedicated people... compared to what it would cost you $80,000 a year in the U.S.”
– Joe Rare [21:34]
He advises entrepreneurs to calculate the time and money spent on mundane tasks and consider the opportunity cost of not outsourcing them. By shifting non-core activities to VAs, business owners can focus on high-impact, revenue-generating tasks.
Tools and Technology for Managing Virtual Teams
Timestamp [25:07 – 28:05]
Effective communication and project management are crucial for remote team success. Joe shares the suite of tools his companies utilize to maintain seamless operations:
- Slack: For internal communication, creating specific channels for various departments and projects.
- Asana: Preferred over other project management tools like ClickUp due to its alignment with their workflow.
- Zoom: For meetings and real-time collaboration.
- High Level: For CRM, marketing, and automation.
Joe emphasizes the importance of choosing tools that scale with the business and support the complexity of managing hundreds of virtual employees.
Impact on Personal Life and Business Scaling
Timestamp [30:00 – 38:50]
Joe and Charles discuss the profound impact that outsourcing and virtual teams have on personal freedom and business growth. By delegating administrative and specialized tasks to VAs, entrepreneurs can focus on strategic initiatives and spend more time with their families.
Joe shares a pivotal story about the failure of his first agency due to the high costs and complexities of managing a local team. Transitioning to a virtual model allowed him to rapidly scale his business without the overhead and logistical challenges associated with in-office staff:
“We went from zero to $109,000 a month in four months. We doubled in another four months, and then we hit over a million a month shortly after that. There it is virtually.”
– Joe Rare [37:09]
Overcoming Challenges in Outsourcing
Timestamp [38:03 – 39:15]
Joe addresses potential challenges such as natural disasters (e.g., typhoons) and cultural differences. He highlights the importance of having contingency plans, such as backup locations and ensuring reliable internet connectivity. Additionally, Joe stresses the value of hiring dedicated, specialized talent to avoid the pitfalls of transactional outsourcing.
Final Thoughts: Embracing the Virtual Revolution
Timestamp [39:15 – End]
In concluding the episode, Joe reinforces the necessity of outsourcing for modern entrepreneurs aiming to scale efficiently. He criticizes the traditional local hiring model for being costly and limiting, advocating instead for leveraging global talent to build resilient and scalable businesses.
“We are not hard sales ever. I don't care. We have plenty of clients. I don't need to hard sell you.”
– Joe Rare [35:55]
Joe invites listeners to connect with his company, Level Nine Virtual, for a consultative approach to building virtual teams, ensuring that outsourcing aligns with their long-term business objectives.
Conclusion and Key Takeaways
In this episode of the I Am Charles Schwartz Show, Joe Rare provides a masterclass in virtual business scaling. Key takeaways include:
- Strategic Delegation: Identify and outsource non-core tasks to focus on high-impact activities.
- Specialization Over Generalization: Hire specialists to ensure quality and efficiency.
- Effective Communication Tools: Utilize platforms like Slack, Asana, and Zoom to manage remote teams.
- Cost Efficiency: Outsourcing to regions like the Philippines offers significant cost savings without compromising quality.
- Long-Term Vision: Treat hiring VAs as a long-term investment to build a resilient and scalable business.
- Personal Freedom: Outsourcing empowers entrepreneurs to reclaim time for personal pursuits and family.
For entrepreneurs ready to embrace the virtual revolution, Joe Rare’s insights offer a clear blueprint to scale effectively while maintaining control over their time and resources.
Connect with Joe Rare:
Visit Level Nine Virtual and click the large yellow "Book a Call" button in the top right corner to schedule a consultative session.
Success in today's business landscape isn't about working harder—it's about leveraging global talent and systems to work smarter. Take the first step towards building your virtual empire today.