Herold told host Josh Kopel on the FULL COMP Podcast that delegating, building systems, and hiring an executive assistant let him grow his restaurant into one that runs without him in the room.
Herold says financial freedom comes from balancing three things: money, time, and purpose. He places them on a Venn diagram, and all three have to overlap.
"What works well is to generate an income, while pursuing your passion, and controlling your time while doing it," Herold says.
If you have money but no time, or time but no money, he argues you can't do the work you're passionate about. You can't live out your purpose.
Herold bought back his time by hiring a BELAY executive assistant, which let him focus on the parts of his life and business that actually aligned with his purpose.
Herold credits two ideas for shifting how he runs his franchise. The first came from Gino Wickman, CEO of EOS Worldwide: "You have to let go of the vine."
The second is Herold's own: "Perfection is the enemy."
Herold says holding on too tightly and trying to control every detail stalls a business. He had to trust his team to do things as well as, or better than, he imagined. His own capacity was becoming the ceiling on the business's growth.
That shift came from asking a harder question: "If you own a business, you are the CEO. Are you acting like one?"
After a leadership conference, Herold noticed every CEO he admired had an executive assistant. So he started delegating like one, handing off tasks as soon as he outgrew them.
Herold says investing in his BELAY executive assistant multiplies the value of his time. His math: figure out what your time is worth, then double it once you have an assistant in place.
He frames self-investment as a requirement, not a luxury. "If you want to be a business owner, you have to grow. And if you want to grow, you have to invest in yourself," Herold says.
He puts it in restaurant terms: "Are you worth more than a walk-in cooler?"
If a walk-in broke down, you'd fix it immediately. Herold says spending your own time on admin work instead of leadership is the same problem: you're running below capacity, and it's costing the business.
Herold's executive assistant, Mindy, owns three areas of his business.
Scheduling: Herold says being "on time, present, and prepared" matters to him as a community leader, and Mindy's calendar management makes that possible.
Inbox management: Herold says email overwhelmed him until Mindy took it over. He now doesn't look at his inbox at all.
Upper-level leadership: his team no longer waits on Herold to make every decision. Mindy steps in instead.
Josh Kopel frames the hire this way: "It's not just about finding someone who can do the work. It's about finding someone who can work with you."
Herold says a strong assistant partnership depends on three types of fit: the tools and software you use (Google or Microsoft, your POS system), your communication style (Herold and Mindy hold a call at the start and end of each week), and your working style (how much detail you need versus how much flexibility you want).
Herold used BELAY to handle vetting, hiring, and onboarding, and was matched with Mindy. He says the first 30 days went toward setting priorities, and the first 90 days went toward working through processes together, a timeline he credits for their long-term success.
Herold names three tactics he uses to build a full, thriving life.
First, a line from Jim Rohn: "You are the average of the five people you spend the most time with." Herold applies this even without in-person mentors, keeping two or three people on his radar through their books, podcasts, or interviews.
Second, staying hungry. Herold says the moment you think you're finished, you're done.
Third, understanding your "why," a framework he draws from Simon Sinek. Herold says knowing the core belief behind your work is what makes you feel whole, and what makes the rest of the effort worth it.