42: Money Talk: Making investment decisions and spending money on yourself with Monica Delgado

Today I’m here with my very good friend Monica Delgado. We are going to talk about spending money on yourself and then making smart investment decisions.
Monica is an entrepreneur who runs two Brazilian Jiu Jitsu academies. She also has a product based business – the most comfortable leggings you will ever wear.

Your core role as an entrepreneur is to make the big money, whatever that looks like to you- 5k months, 10k months, whatever. Your role is, how can I maximize my return on every hour of time I’m putting into this business. And one thing I look at is what are my $10 tasks, my $100 and my $1000 tasks, or however you want to break it down. My $10 tasks are things like scheduling social media, managing my inbox, if a client wants to reschedule – I do not have to be the person who does that, that’s not the stuff that makes me big money. Hiring help will help you to take your business to a better place. Just because you know how to do everything, doesn’t mean that you should do everything. Especially if you’re actually seeing growth, and you’re seeing your revenue growing, instead of thinking -how can I cut expenses, think- how can I increase my revenue.

Another important thing for entrepreneurs is taking care of yourself. And this creates a ripple effect for your business. If you treat yourself to a spa once in a while or a handbag that you’ve been thinking about for three days, that makes you feel better, it gives you more confidence. You need that confidence to sell stuff – selling stuff makes you more money and profit – you can use that to help other people, by hiring, by creating jobs, by impacting communities that are underserved. 

” Investing in yourself is also an investment in your business.Taking care of you has a ripple effect on your business”

– Monica Delgado

As entrepreneurs we don’t have an income ceiling, we can keep growing, we can keep making more money. And to me, money is power, but in the most positive sense of the word. Because if I’ve been making more money, I can now hire someone. And I know I’m changing the life of that person and their family. And the more money you have, the more impact you can create.

The company I used to hire my new Virtual Assistant is called iWorker, and they originally started in order to help with the Venezuelan refugee crisis, right. So they started finding and training remote workers. They’re now in three countries: in Venezuela and Nicaragua, and in Kenya. They train these workers and they match them to entrepreneurs, companies, businesses, etc. as remote help. So I literally wrote them an email- hey, here’s what I’m looking for and they sent me three bios. I had a call with two and I basically fell in business love with one of them. And it’s a win win. Because, for me, it’s a lower hourly rate that I’m paying, but I also check how much she would be getting as an admin assistant in her country, and what she’ll be getting paid much higher than what she would get as an admin assistant in an office in her country. So that, for me, is a huge win win.
Changing the world one, one hire at a time.

To find out more about Monica’s amazing leggings go to Not Only Pants or check her Instagram @monicadelgadob and @notonlypants.

Love + magic,

Maggie