If you’re feeling overwhelmed and frustrated by the fact that despite taking on all the tasks you can handle and trying to effectively outsource other tasks, you’re still unable to achieve the business growth you desire, and there’s still high turnover, then you are not alone!
“If you don’t know how to hire, it’s going to hold you back at everything that you do.” – Nathan Hirsch
My special guest on this week’s Episode is Nathan Hirsch.
Nathan Hirsch, an accomplished entrepreneur with a knack for Amazon selling, stepped into the world of business during college, where he explored buying and selling textbooks. Over time, he discovered the potential in baby products and built a successful dropshipping Amazon business. Along with his business partner, Connor, Nathan faced challenges and learned valuable lessons while growing their enterprise. Today, Nathan is the founder of Outsource School Accounts Balance and Ecom Balance, sharing his expertise in hiring virtual assistants to help entrepreneurs thrive.
In this episode, you will find out:
- The critical role of virtual assistants with the right mix of talents in your business success.
- Understand how fostering a positive company culture can minimize VA turnover and enhance productivity.
- Learn to optimize the sales and onboarding processes through strategic outsourcing for sleek customer experience.
- Grasp the value of dissecting financial reports to make informed decisions, pushing your business forward.
- Gain insights on the importance of delegating non-core tasks early on, leading to flexibility and freedom in your entrepreneurial journey.
About Nathan Hirsch:
Nathan Hirsch is a lifelong entrepreneur and currently the CEO of EcomBalance and Outsource School. Nathan is best known for co-founding FreeUp.net in 2015 with an initial $5,000 investment, scaling it to $12 million in yearly revenue, and having it acquired in 2019. Today, he leads EcomBalance, an online bookkeeping service for eCommerce and digital businesses, and Outsource School, a membership teaching business owners how to hire effectively online. Nathan has appeared on 400+ podcasts, is a social media personality. Him and his wife live in Denver, Colorado with his two dogs where they are foster parents.
Connect with Nathan here:
Website:https://www.outsourceschool.com/
LinkedIn: https://www.linkedin.com/in/nathanhirsch/
Connect with Paul:
Website: https://innovativewealth.com/
Instagram: https://businesslegacypodcast.com/
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Other episodes you’ll enjoy:
What does Youtube have to do with Legacy?
Tax Goddess Shauna Wekherlien: Unleashing the Power of Advanced Tax Strategies
Understanding the Five Stages of Grief when Selling a Business
Chapter Summary below
Timestamped summary of this episode:
00:00:00 – Introduction,
The guest, Nathan Hirsch, the founder of Outsource School, Accounts Balance, and Ecom Balance, talks about his background as an Amazon seller and how he started using virtual assistants (VAs) to grow his business.
00:03:33 – Followers, Doers, and Experts,
Nathan explains the difference between followers, doers, and experts and how entrepreneurs need to identify which type of VA they need for their business.
00:07:03 – Hiring VA’s Without SOPs,
Nathan emphasizes the importance of learning how to hire and setting good expectations for virtual assistants. He suggests that entrepreneurs take Outsource School’s hiring process before diving into SOPs.
00:09:44 – Retention of Virtual Assistants,
Nathan discusses the importance of building a good company culture and treating virtual assistants as part of the family to increase retention. He also mentions that money is not the only factor that keeps VAs from leaving as long as they feel valued and take ownership of the company.
00:12:29 – Using VAs for Everything,
Nathan talks about how his company uses VA for customer service, sales, and onboarding new clients. They even use VAs for monthly bookkeeping services and integrate clients to view their bank and credit card details. Nathan praises his VA, June, in the Philippines, for his excellent client-facing skills and his ability to handle various tasks.
00:13:32 – Creating the Best Monthly Bookkeeping Service,
Nathan believes that bookkeeping is a critical aspect of running a business as it provides a monthly process that enables entrepreneurs to make sound decisions. He emphasizes that even new entrepreneurs starting their businesses for the first time should hire a bookkeeper. Nathan’s goal is to create the best monthly bookkeeping service that offers monthly reports to help entrepreneurs make decisions, reduce stress during tax season, and prepare companies for funding, investment, or selling.
00:16:05 – Finding Doers and Experts,
Nathan offers Doers and VAs through his Outsource School Facebook group and refers clients to other marketplaces such as FreeUp for more specialized roles. Nathan’s services cater to businesses of all sizes, including start-ups and small companies that don’t want to make hiring mistakes.
00:18:53 – Worst Business Decisions,
Nathan shares his worst business decisions, including opening an office that he didn’t need, costing him time, money, and energy, and not diversifying his Amazon business. Nathan learned his lesson and focused on diversifying his business to avoid depending on a single revenue stream.
00:21:04 – Filipino Culture and Hiring,
Nathan praises the Filipino culture for being friendly, happy, and family-oriented. He believes that they are great remote workers, used to remote work, and familiar with American culture. Nathan’s goal is to create a fun working environment where everyone enjoys what they are doing and gets to know each other.
