House of Wolves - A Power Couple's Playbook

Spend Money, Save Time: A Success Strategy

November 27, 2023 Randy & Mary Vasquez Episode 10
House of Wolves - A Power Couple's Playbook
Spend Money, Save Time: A Success Strategy
Show Notes Transcript Chapter Markers

Imagine having an extra three hours in your day. What would you do with that time? Would you use it to grow your business, spend more time with your family, or maybe finally get around to that hobby you've been putting off? On this episode, we share the secret to buying back time and how it has revolutionized our lives. From outsourcing tasks like laundry and grocery shopping to using services like Amazon Fresh and Two Places at Once, we guide you on how to find the right balance for your individual needs and invest in yourself.

But it doesn't stop there! We also delve into how hiring help can propel both personal and business growth. This is a game-changer for everyone - from newlyweds to new parents, from aspiring entrepreneurs to established business owners. We share insights on how managing personal life like a business can lead to greater growth and success. Finally, we emphasize the importance of building a strong team and how not to hesitate to ask for assistance. By the end of this episode, you'll have a new perspective on spending money to save time, and how this investment can ultimately lead to even greater financial success. After all, time is the most valuable asset we have. It's time to invest in it!

Want to join in the conversation? Subscribe to The Broke Millionaire Youtube channel or follow Randy and Mary on Instagram. You can also check out their luxury & exotic vehicle rental service at howmotorsluxe.com, and elevate your side-hustle education at The Broke Millionaire Academy.

To watch our episodes please subscribe to The Broke Millionaire Youtube channel: https://www.youtube.com/watch?v=zvci4bqKjDE&list=PLh_N9FtZhe5qF453HxF7SbrKqLg1D2PBT

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Speaker 1:

This topic is about spend the money higher. Help, let's get it, let's get it, let's get it, let's get it, let's get it. Another good one another another gen Wow.

Speaker 2:

In this traffic jam.

Speaker 1:

Inside joke this. We'll back at it again. How podcasts? We leave it at that. This topic is about spend the money higher help.

Speaker 2:

Yes, that's the title. Yes, spend the money higher help. Why? Well, because I don't know. It's just we have to talk about it we're not even talking about. It's not what you think and it's not what people expect. So it's going to be like a little punchline when we let the men into it.

Speaker 1:

Creating businesses and, like we always say, we started to look at how we could excel. We looked at what is our way to do that, what is the easiest way for us to do that, and by doing that, then we said, okay, well, what are the challenges that we have? Right? So it's pretty simple, and a lot of people do that and think about okay, well, what's in the way and how do I plan for continuous growth, how do I plan to jump into an adventure? How do I plan to save more money, whatever the case is? And we said to ourselves, okay, well, we just don't have the time. We don't have the time to do that. Why? Because our days are caught up on what. We started to write those things down. We said, okay, well, you know, we work Monday through Friday, and then Saturdays we're doing food shopping, and then, you know, I have to mow lawn at that time, right? And then Sundays we're exhausted. So we're trying to get some rest and we can so then throughout the week. So we just started to analyze all the pieces and I was listening and it was interesting because I was at work and I was at a work conference and I heard somebody say to the crowd and I said you know, when I was growing my career and I went through a divorce, I at that point couldn't afford a nanny because I wasn't making the money. But I knew that I had to figure out a way to invest into a nanny, into a babysitter, so that I can spend more time at work to continue to grow my career. And I was like, wow, that hit me pretty, pretty hard and I was like that is so dope because she invested in herself by getting the additional help that she needed. So I think you and I talked about that and we said, okay, well, how do we and what can we get out of our way that, although we don't have the money to pay for right now, we can figure out the best route in terms of taking it off our plate? And that is an investment into our future, because we believe that we're worth more than what we're doing and what we're spending our time.

Speaker 2:

Yeah, that's exactly where the idea stemmed from, and it evoked a huge conversation about what is it that we're doing, analyzing, like you said, our day to day and how we can buy ourselves the opportunity and the bandwidth to do more. Because that was actually our biggest challenge is like we were committed with long commutes, extremely long work hours. We were new parents, so when we were home, we were doing the most and we were just exhausted and we needed our personal time and we also had an insatiable thirst to be able to launch our lives as entrepreneurs. At that point, we were still both working and we only had aspirations of doing something, but we still didn't know what. And then this magic happened at this conference and it was really eye-opening for us and it really just it was the beginning of the best thing in the world. Yeah, it was.

Speaker 1:

And then we started slow right. So we said, okay, well, what are the things that we're taking? We go back to that. What are the things that are taking a lot of our time? And we looked at okay, well, saturdays we like a clean house and we were spending both of us four to five hours cleaning right. Doing bathrooms and cleaning the kitchen, and doing laundry. So we say, okay, well, those things are great that you know we have to do them, but Is that something that we could eliminate and buy us back some time? What does that cost, right? So we looked at things like laundry service. What can we get for laundry services that cost? And then we looked at, okay, a cleaning service. Can we bring in a cleaning service? often to do it and to clean for us. And then we continued to look at stuff and said, okay, here are all the little things that we do that are tedious and take a long time, and how much does the thing cost if we were to outsource them?

Speaker 2:

Yeah, absolutely, and we not that I think back. We were so ahead of our times. We were like remember that was probably like the beginning of when Amazon launched Amazon Fresh, which was home delivery service for groceries, and we started playing with the idea of like okay, we're going to pay a little bit more for groceries, but it eliminates us running around to go to a supermarket and like source our meals. That was a huge win. We then played around, like you said, with two places at once, Remember, that company that service that we tapped into, which helped us with, with everything

Speaker 1:

food service dry cleaning, picking it up, dropping it off, laundry. Picking it up, dropping it off I remember I was taking it with me to work in a big garbage bag and I was just leaving in the car. So I'm going to come take it to the the the laundry mat, do it for us, bring it back. So we were just kind of like looking for different ways and innovative ways that we could cut back on our time with minimal costs. But we were investing into those things and there was some trauma there, right, and then figuring out what the right mix was for us. But essentially we just kept looking at that, right. And another thing is right. We looked at cleaning. Right, well, how often do we need to clean it? Okay, let's test this out. How much does that cost? So it was 150 or 200 bucks, whatever it was. And then we spoke well, how often do we really need a deep cleaning in the house? Yeah, when you have kids. Now, how often do we need a deep cleaning versus organizing? Okay, how long does it take us to organize? And then we looked at okay, well, can we get on a monthly plan with this lady? Does it? Is it once a month? There's every two weeks, cool. That costs us a little bit more, but we're getting the service right. We looked at that and then I transitioned into okay, well, maybe we need some long service. We had like a little piece of grass and they were charging us an arm and leg and I remember that I just killed all the grass and put mulch down, so I just didn't have to maintain it. I could buy myself some time.

Speaker 2:

That was terrible that was terrible.

Speaker 1:

That shit sucked and shout out to my boy, Victor, who helped me put up a wall. That was fucking a nightmare too. We're talking about that. The other day we packed like 60 blocks of cement blocks in the in the SUV behind. Yeah, that shit was like on the ground Anyways. So we just looked at different ways that we could invest minimal, but that had a major impact on our time and we continue to kind of just test and learn and try on error to see what worked Right.

Speaker 2:

Yeah, and when we utilized that service particularly, we got so sophisticated to the point where I think we had to service pick up our, pick up our groceries, put them away from way. Remember that Another lady would come in make like meals like meal prep for us and clean the house. Yeah, and our laundry.

Speaker 1:

And our laundry.

Speaker 2:

Right. And then at that point we were like, okay, we're kind of liking this and at this point, yeah, you know you make certain sacrifices. So, for example, you know, pre baby we were just winding and dining everywhere. You know, two incomes, no kids, no daycare to pay for. So of course you can splurge on a lot of things at that point, right. But once your budget starts getting tighter and you have to allocate money to source help, you absolutely have to start, you know, trimming where things are not really necessary. You know we were like, well, instead of dry cleaning, let's try to pay somebody to wash the clothes and ironing them here, you know, and pay them an hourly rate. Instead of overpaying Amazon grocery delivery, let's use that one company that would actually do the shopping for us, drop it off at home and put it away for us. And we started to kind of just fine tuning all the little things that we were outsourcing and eventually, of course, those things grew. But we were also kind of just like finding the right balance for our budget and also our peace of mind. You know, sometimes we will pay a little bit more one end because it was something that was very personal for us and then go cheap on another way. Tell them a little bit more about how and when we decided to actually just go full blown and hire. What people may consider an annual for us is a professional grandma.

Speaker 1:

Professional grandma, like how you put that, yeah. So we looked at again same exact thing. Right? We said where is our time being allocated? How? much are we spending for all those things. And then, I think, when we had our second child, we looked at, well, there's a lot more laundry that we have to do here, there's a lot more going on, there's a lot of movement, there's a lot more time that we need to make sure that we're taking them to school and back and forth and so on, and you can't go out. I can't go out, I have to work. So we looked at that and we said, well, I think at this point we need full time, right. And we started to get more responsibilities with our business and we said, okay, I think we need somebody full time. And we said, well, what does that look like? How often? What type of things should this person be doing? Okay, well, this person needs to come in and do what they need to clean the house every day. Okay, cool, let's try to get that. And we went out to try to find out how much does that cost? How much? do people charge and we looked at different websites, we put ads out there and ultimately we landed the first time around on somebody who was pretty good. She didn't have all the skills of cleaning. That was a challenge, but she was really good at doing other tasks right. So, we said, okay, are those the right tasks that we need for that?

Speaker 2:

for this, for our needs.

Speaker 1:

Like, no, actually we need more time with the kids. And then we ended up finding somebody who, like you said, a professional grandmother where she does the little things around the house, but ultimately she helps us out with the kids and helps us out with the kids and helps out with little errands and little stuff as well, and we're like well, how much can we afford? Hey, can you take the salary? Yes, or no. Okay, how else can we compensate for that? Because if it was in our budget, what is it doing for us? Right, and I think the key for that is understanding what you could afford and when you need to stretch a little bit. At what cost to what is going to buy you and what's going to give you In return. In return, and I think it's not about and we're talking about like cleaning, right, and we're talking about like long service and we're talking about like stuff like that. I heard somebody else say that you know he no longer does $10 jobs and that sounds crazy and that sounds like oh, what are you trying to say? You're too good for that? No, but it's real, if your hourly rate of what you're worth is $30.

Speaker 2:

Yeah, triple that.

Speaker 1:

You know $50, $60, then is the task that you're doing that's how you analyze it is the task that I'm doing today worth the $60. If it's not worth the $60, if I can get somebody else to do that for $40, then you go get somebody to do that for $40 and you're really making 20. And then the piece is it's not about getting the additional help so that you can watch Netflix or you can chill. It's about getting the additional help so you can allocate that time to your hustle, to your work, to doing something that you can generate money.

Speaker 2:

Yeah, and I think that also I want to touch on the fact that you know, newlyweds, new parents, can tremendously, and you know, benefit from something like this, because we did it, because we also needed the help, but the actual hidden benefits that came along were such blessings like we actually have so much more time on our end to enjoy ourselves and be together as a family and eliminating those kind of tedious tasks that were really keeping us from. You know, looking over the baby's homework together. You know, going on walks, enjoying our time together, going on dates you know, sometimes we would shift her schedule where she will come in much later and just have a, you know, a PM shift where you and I, you know, would go on a nice date and come back and know that our children are well cared for. And those are really great perks. And this is someone that loves our children like her own and is someone that we really do trust and that's aside from like, let's say, the residential personal side invest the money, get help also expands into our business. Sometimes, you know, there's a lot of entrepreneurs out there that are one man show and they really just don't want to relinquish that control of managing their own business and they're reluctant to hiring, help or committing to giving the job and those and delegate. I struggled with that a lot and that is the reason why it took us a kind of a little long term to kind of expand, really, because whenever I start something, I'm very territorial and I want to do everything for myself and I don't believe that anybody else can do it better than I can. Mind you, there are marketing experts, there are professional detailers, there are insurance experts. You know, when you just allocate, like, okay, here is, here are my challenges in my business. This is what I'm really good at I manage the business. I'm not an expert at marketing. I'm not an expert at social media. I cannot shoot a video myself, edit it and make it pop. There are many areas that I'm just not great at. I can touch on all of those things, but they're not going to be amazing. And for that you have to make the decision, spend the money and get the help. Why? Because you're getting the optimized version of something that you cannot really convert yourself and it's only going to make you go further. On a personal perspective from our family yeah, we needed the help and we got more time together, A lot of peace of mind. You know what I mean. We're able to work a little longer if we have to and if we want to, but on the business side, it has really propelled us to do that much more and have higher quality turnouts.

Speaker 1:

I love that transition and that connection that you made between personal and business, because if you manage your personal life like a business right where you're investing into the right employees to help you grow and help your business grow and help your life grow. Essentially, when the personal side, then I think you can manage it the same right. So I think I love that connection that you just made in that transition because I think that that's how we do right. We manage our personal life like if it was a business, right.

Speaker 2:

We'll say you're very transactional.

Speaker 1:

Okay, we look at things that we're not good at, or things that we can hire somebody else for less pay to be able to do that work. That's how business works right, and we apply that to our personal life as well, where we look at one of the things that we really are not good at, one of the things that we really shouldn't be doing, one of the things that we can pay somebody else to optimize the good pieces of it, and then, ultimately, how is that going to help us continue to grow, even if we have to take a little bit of setback in terms of the investment that we're making at that moment? If we don't have it, I mean, there's again. We have help around the house. We have help with our business. You know, I've had an assistant. We've had an assistant. We just hired an assistant, another assistant. So, like, even those pieces, like well, can I really afford this? Maybe not, but is it going to help me grow where I'm going to make so much more money that I'm actually going to afford it? Right, it's just an investment, and I think I heard Gary V say that one time and again. It's not rocket science, but the way that he broke it down was simple. It's like if you have a nine of five and you're making $70,000, and then you get a raise or promotion, now you're making $100,000, you were already comfortable with living the $70,000 lifestyle and doing the things you needed. Why not take that $30,000 additional that you have and hire somebody who is going to be able to help you propel and grow and get bigger stuff? So you're allocating, as you grow, money to somebody else. So it's just that cycle. So if you manage your personal life, your business and make sure that you're allocating investment dollars appropriate to hire people to help you, then it makes total sense.

Speaker 2:

Yeah, and I think that a lot of you already invest in the help. You know a lot of us don't do our own taxes. You hire an accountant, your tooth hurts, you go to the dentist. So, in our opinion, in a nutshell, it's that you know, entrust professionals and obviously do diligence, do the reviews, do trials and hire people that can facilitate your lifestyle, bring you more peace of mind, identify the things that are really keeping you up at night, things that you just can't figure out. And it's okay to ask for help. You're actually going to pay for it. You know what I mean. It's not like it's free, so it gives you a lot of empowerment to identify that you need the help and you can't. Life is difficult. You can go about this by yourself and take the difficult road just because you're a tough guy. You know, what I mean, like sometimes it does take a village and with our household and our businesses. You know we are so grateful that we have partnered with the right people to help us get there. On a personal note and through our business, and for me, again, you know I'm the stubborn meal of all time. It hasn't really been a walk in the park for me to embark on that journey, but again I've made that decision. You know Randy did nudge me along the way, but it has been very beneficiary and life changing. Honestly, I can't go back.

Speaker 1:

No you can't go back. I can't go back, you're gonna have to eventually be super broke, that we can't even do anything. That's, that's what's gonna happen. No, I love this topic. Right, I love this topic and it's a hard topic for me to discuss with others personally, because I think people like and they say, well, you have the money to do that. And I'm like, actually, when I we started, we didn't have the money to do that, but we understood the reason for it, we understood the rationale why we're doing what the goal was behind it. So that's a very hard conversation for me to have with people. So I'm glad that we we raised this topic today, because I think I want to try to see how I can reinforce that message to people and kind of say yes, I get it. When you look at it from an outside, looking in, yeah, it looks like, oh, it's glamorous yeah but it's a sacrifice and it's an investment that you have to make for the greater good.

Speaker 2:

Right.

Speaker 1:

And and a piece that I want to make sure I mentioned that that you said before, like where we were looking for the right mix and you know is it. Are we doing this and how do we not pay so much for that? And it wasn't an act of us trying to be frugal and like be cheap with things. It was an act of us trying to find the right mix and the right balance of what works for us. And again, like I said, how much can we really stretch? Yeah that makes sense and how can we allocate dollars there? Does that make sense? Are we really getting the value? So it was just a yeah, an assessment that we were making to make sure that we are getting the greatest value we can for the money that we have. Yeah, and you know, one thing that I think we do very well is we might find cheap help in the sense right, cheaper, great deal in terms of the help that we have, but we make sure that we take care of those people, right, we make sure that we are connecting with those people, that we have the right relationships, that we take care of them, that we say, hey, listen, when things get better, you will get better too, right? Yeah, so it's that piece as well Taking care of those people that are helping you Of course, even though you're paying them, you're making sure that you're also providing that sense of you know, peace that they have and the needs that they have as well, and understanding and taking the time for that so that they can continue to try to work with you.

Speaker 2:

Yeah, yeah, you hit it right on the nail.

Speaker 1:

That's it, yeah.

Speaker 2:

I mean for me. You know, I'll wrap it up in terms of just in a nutshell, I feel like if you run your numbers and you do your accounting at home, you will find a wedge in there of the fact that you can actually make this happen as well. We were able to start in a way that made sense to us. We sacrificed in other areas, we won in others, and that's where it brought us to where we are now. That's what I have to say about that. You know, it was a great leap of faith that has brought us many benefits.

Speaker 1:

Yeah, look at it as an investment you hire help so that you can invest into yourself.

Speaker 2:

Invest in your success.

Speaker 1:

And believe in yourself, right? Because I go back to that. That first topic of what gave me that aha moment in that conference of what she had said is she didn't have the money to afford it, but she knew and she believed in herself that if she did that she could achieve much more and make much more money, and now she's extremely successful. So that's exactly the point is, you know, making sure that you're investing into it and also you look at it as an investment for something that's greater and you're going to grow and it's going to help you, not necessarily something that's an expense and on the negative side, so I'll leave it with that. Thank you to having a great team and having people around you to help. It's great.

Speaker 2:

Cheers, don't be so nervous.

Investing in Time-Saving Services
Benefits of Help in Personal & Business
Investing in Help for Success