April 9, 2025 • 18 mins
E311 | A Day In The Life Of An Entrepreneur: The Highs, Lows, And Realities
The central theme of this podcast episode is the multifaceted and challenging nature of an entrepreneur's daily life. I delve into the realities faced by business owners, elucidating that the journey is far from facile, contrary to the glamorous portrayals often depicted in popular culture. I reflect on personal milestones and share insights from a recent dialogue with a lifelong friend who is also embarking on a new entrepreneurial venture. Throughout the discussion, I emphasize the importance of strategic leadership, the necessity of fostering a competent team, and the critical balance between operational management and business development. Ultimately, I aim to convey that entrepreneurship demands unwavering commitment and resilience, with the understanding that significant growth often arises from overcoming substantial challenges.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:42):
Welcome back everybody toanother episode.
Today I wanted to talk aboutday in the life of an entrepreneur.
I also age myself, hit a bigmilestone coming up this year from
an age standpoint, talk aboutthat and kind of, you know, is it
every what everyone expects itto be or what is it?
(01:03):
And I have a very close friendwho I went to high school with.
And again, we live in otherparts of the country and haven't
stayed too connected withthem, but not close, but still connect.
And this other individual isalso launching a new business after
selling one at other businesses.
And now we share the warstories of what it's like to be a
(01:25):
business owner.
And first and foremost, it's hard.
People who tell you it's easy,it's not.
And those types of people,typically, you'll see them online,
driving fancy cars, wearingfancy clothes.
As you can see, I'm top of theline clothing outfit today.
I'm recording this on a Sundayand I'm dressed comfortably as I
(01:45):
am and sitting here recordingpodcasts and getting this done and
cleaning up, getting ready forthe week ahead and what am I expecting
to conquer as an entrepreneurthis week?
And I kind of chuckle a littlebit and when I don't, again get into
politics.
Rumblings came out about, youknow, people in government had to
(02:07):
answer five things.
They did that last week or whatever.
Now most businesses are alwaysasking people, you know, not exactly
in that same tone, you know,what'd you get done this week?
But it's like, what are youworking on?
What are your challenges?
What do you need help with?
That's part of being a goodleader in any type of business.
So what does that look like?
And I look at just this lastweek and like everything that I have
(02:31):
accomplished in this past weekand what does that mean and so forth.
And as I mentioned, we're ableto close on a large portfolio of
loans over this past week.
So as an entrepreneur, I hadto provide a lot of support to our
asset management team, makingsure they're on top of things, making
sure we're answering questions.
What does that look like?
(02:51):
We probably over the last weekspent close to four hours a half
a day in meetings with ourasset management team for that specific
purpose.
As an example.
Now, Lauren on the investorrelations side had set up some really
good meetings with somepotential new clients who have some
significant funds behind them.
(03:12):
Now I'm just looking and, youknow, we had two meetings this past
week in regards to presentingto clients, you know, potential clients.
So you'll constantly see as anentrepreneur back and forth in between
business development and operations.
And this is one of the areaswhere when we started the company,
(03:33):
you know, when Lauren came onboard, we both kind of joked it was
kind of proverbial match madein heaven.
Because she comes from thatsales background, I come from the
engineering analyticsbackground and let me run the business
and let her be out there, youknow, shaking hands and kissing babies.
And that's kind of how we'vesegregated a lot of things.
But she helps a little bit on ours.
(03:55):
I, of course, is the owner ofthe company.
They'll have to present ispeople want to know who you are.
And that's something that Ithink is really important as an entrepreneur,
as any business owner.
When you're seeking to sellany type of product, you need to
be in front of it.
People want to know who youare, what you do and how you do it.
(04:15):
And not just the genericstuff, but they really want to know
like the type of person you are.
You know, what's the energy,what's the plan of the business?
When people ask me, where doyou see yourself in five years?
My answer is sitting in thesame chair running the company.
Now I'm not building a companyto turn around and sell it.
I'm building a company forlong term growth.
I'm building a company doesn'tonly have me as a leader.
(04:39):
I learned this from EOS system.
I learned it when I worked ata large commercial contractor.
I learned it when I waslooking for a real estate developer.
There needs to be some type ofplan where it's not run by a dictator.
There's got to be a long termplan where it's not just run by one
person because if somethinghappens, that person and everything
falls apart.
You know, it needs to be runby people and you need to let your
(05:02):
people grow and flourish.
And I think that's oneopportunity with my team that we
do, I think very well.
We bring in the right peopleand also give them the opportunity.
We don't basically just pushthem down the slide, but do give
them a little bit of a push.
You know, that's something to consider.
And I think a lot of people,when they think of an entrepreneur,
(05:24):
they're like, oh, I'm justgoing to tell people what to do and
go out and golf and so forth.
But typically what ends uphappening is you start out working
100 hours a week because youtry and do it all versus bringing
in people or trying to figureout a way.
And if you bring in theexperts and it's going to cost you
something money.
But it gives you time and justrealize that, hey, look, on day one,
(05:46):
you're probably not going tobe profitable.
But what is your plan to getto profitability?
Something important tounderstand, something to consider.
For example, for me, my weekconsists of starting early because
it's two days a week.
I go to my kids sports.
That is the benefit of beingan entrepreneur and a business owner.
Previously in the W2 world,that was very challenging to do,
(06:06):
but now I can do that.
We are in the process of, I'llsay, some slight adjustments within
our company and now that has aperson coming on board to assist
in one aspect of our company.
So we spent a good amount oftime, for example, this week and
prior weeks.
But my operations director.
Okay, are we set up?
(06:27):
We ready?
This person's starting on Monday.
We good to go?
And let's make sure they justget out on the right foot.
I remember when I was workingat a company, my first day there,
the person was supposed tomeet me there, said, hey, what time
do you get in?
I'm like getting around 8:00,8:30, whatever, but early.
And I got there, I was thefirst person there.
I couldn't even get in thebuilding because pretty much half
(06:48):
the nobody really showed uptill 9.
So I sat in the lobby forabout a half hour and I was brought
upstairs and like, here's your.
I knew where my office was andthen I'm just sitting there waiting
and I called the person.
I'm like, hey, where are you?
And he's like, oh, I'm notgoing to be there till about 1.
Okay.
And basically people came in,got to meet people, you know, when
I was managing some people and stuff.
But it was really awkwardbecause I knew what I was going to
(07:11):
be doing, but I needed to be downloaded.
I knew what my role was.
But there was a specificconstruction project we're going
to be working on that add some information.
But it's like, okay, like, youknow, where do I find stuff?
You know, where's.
How do I systems log into the computer?
Like, where are all the filesso I can start digging through stuff
completely unprepared.
And as a business owner oranybody in management, you need to
(07:32):
be prepared.
And the most important thingis if you have a team, you need to
make sure your team has thenecessary tools and everything they
need to continue to move forward.
Something to consider.
We hope you're enjoying thisepisode of Creating Wealth Simplified.
We wanted to take a moment andtell you more about our Passive Income
(07:53):
Fund at 7e, which is open toboth accredited and non accredited
investors.
Our latest offering targets an8% annual return distributed monthly
with the ability topotentially achieve a greater return
through our bonus share program.
If you'd like moreinformation, reach out to us@Investenty
Investments.com to learn more.
(08:15):
Thank you.
Another interesting componentof the business is understanding
the capabilities of your team.
So we have some we'll callhigh priority loans now within any
portfolio, basically you havea roadmap of how loans will go and
certain ones you kind of puton a watch list and we have a watch
(08:37):
list slash high priority ofloans and our asset manager still
manages those.
But there comes times whereit's hey, we got to get an attorney
on a call or we're in amediation session.
And it's one of those thingswhere, hey, you know, I run the company.
I kind of need to be there asthe final decision maker.
Now let's get on that call.
This past week we hadmediation with a borrower actually
(09:00):
went very, very well.
Honestly, I didn't need to beon the call.
Looking back, Larisa, who runsour asset management side could have
handled it, which she didhandle it, but something that we
weren't sure which path it wasgoing to go.
So for me that was an easy one.
But then I had another onewith a borrower who there's kind
of three different options andinvolves some really business decisions
(09:22):
in regards to how we want tohandle this.
So it wasn't a straightspecific, okay, this asset type of
thing.
It has bigger, I want to sayramifications but implications on
which path do we want to go down?
Neither path is bad.
We win in every single one.
But which one do we win whereit's the lowest risk that also is
(09:43):
the most beneficial to thecompany and that's information that
honestly this person wouldn'thave because one of them is example
like okay, a payoff versus this.
And they're not privy to everylittle insider information within
the company.
So again, another aspect ofthings to understand is again those
limitations.
One of the things also that Ireally appreciate as part of being
(10:06):
an entrepreneur.
And again everything I sayit's, you know, you think that it's
hard but then you're like,this all seems sounds pretty easy.
But you're always focused ongrowing your business and how do
you grow that business and howdo you maximize your time.
And as I've grown as abusiness owner, you know, I used
to allow myself to be used andI mean that like freely in regards
(10:28):
to I'd have people set up acall with me, no problem.
I love to chat and talk, youknow, and I used to spend time doing
that.
Today, I really don't have thetime to do that.
You know, somebody wants toget in touch with me.
Like, I'm recording this.
It probably a week and a halfto two weeks to even get on my calendar
because I'm just so slammed.
And my main focus focuses onmy people, my company, and growing
the company.
(10:48):
It's not that I don't want tohelp you, but just realize I can't
drop everything I'm doing.
I set certain time per week ofstuff I enjoy doing, whether I'm
posting online, in a forum.
I'm in part of a group that wehave a monthly mastermind as an example,
that we meet for an hour.
I enjoy that.
That's fun.
But that doesn't grow my business.
So it's one of those thingswhere as you grow, it gets to that
(11:10):
point and you just have to beupfront to people, but make sure
you're also not being a dickabout it.
Excuse the phrase, but alsoit's going to be important.
This is where I see a lot ofentrepreneurs make this mistake,
which is you spend a lot oftime, what they'll call networking,
but it's the same people arealways talking to, is that person
bringing you business?
Are they moving the needle?
(11:31):
It's good to hear ideas frompeople, but you need to hear ideas
from a lot of people.
So, you know, for example, Igot connected with an individual
about a month and a half agowho now built us a relationship with
another company who might buyloans from us, huge opportunity for
us.
And then on LinkedIn, somebodywas connected to that person, connected
(11:54):
with me.
And now this individual has aprogram that kind of has an affiliation
with several other largerfirms that could even take what that
first person did.
And.
And now I'll call it supersize it.
And over this past week, Iprobably spent two hours on phone
calls with them and partners,building new relationships with them.
(12:17):
And this is one of the thingswhat I loved about what I used to
do is I would always go towork the next day not knowing what
it is I'd be doing.
Construction is like that.
Something happens on job site,it just completely blows up.
In your day, what you thoughtwas going to happen isn't.
That's what I love.
I still love that.
And this is just this pastweek, for example, talking with several
of these people, and they'reall like, oh, yeah, you're Going
(12:38):
to be in Miami in two weeks.
I'm like no, you know, and stuff.
And all of a sudden I'm like,you know what?
I need to be in Miami.
So the wife let her know I'mgoing to be gone for two days and
basically heading to Miamibecause literally just over a span
of week, four different peopleall are interested and now these
people that I'm going to bethere, have dinner, have lunch, have
(13:01):
coffee with them, gonna expandmy network, the people I've never
met and hopefully grow the company.
Now you also have to be honestwith yourself in the sense of, hey
look, it's first time meetingthese people.
It's not like it's immediatebusiness, not like you're gonna blow
up or expand, but it's aboutbuilding long term growth and relationship
which goes back to thatquestion of where do you see yourself
(13:21):
sitting in five years in thesame seat.
So I'm looking to build theselong term relationships with these
people.
So there's more things tounderstand, more things to consider
as part of that.
And as I look to again thisweek talk about some of the things
that occurred last week, thisweek I had to set some certain time
away because again we have onespecific asset that is extremely
(13:45):
challenging that I'm takingthe lead on.
And I still love managingassets, but I can't do that in the
day to day.
I gotta focus on growing your business.
As an entrepreneur, that'swhat people got to realize is you
can't always get caught in the weeds.
But you have to focus onwhat's going to grow the business
which this specific asset A isgoing to not grow.
(14:05):
The business will be verypositive for the business, but it's
something that okay, do I have.
This isn't a knock against mypeople, it's a little kind of outside
of their box because itinvolves more than just note investing
to manage, but also it'ssomething I love to do, but I'm going
to kind of manage it and do itin my free time as part of that.
So I wanted to just reallyfocus on kind of day in the life
(14:29):
of where you spend time, whereyou shouldn't spend time because
it's really a hard balance andI make it sound like it's easy, but
if you grow a business, youhave employees and managing people
is hard.
You know, not everyone's likeyou and you want everyone to be like
you, but people have differentskill sets, different personalities,
fitting right people on theright seat and on the right bus.
(14:51):
Adding people, sometimesgetting rid of people that's a hard
part of business.
And, you know, at the end ofthe day, it's not personal.
It's gotta be what's best forthe business and what you think can
make it grow.
And, you know, hardest thingthat I struggle with is, you know,
really that balancing of thatnetworking side of things.
You know, like I said,typically, you know, once a month,
(15:13):
I'm part of one mastermind.
There's another one I kind ofjust joined that they're meeting
once a month as well.
And that one is already.
It's different than the other.
So first, there are two verydifferent groups that I'm part of.
They're small.
Each one's five to 10 people.
And I think that's importantto understand and grow.
I used to be a member ofGoBundance, which was, again, a great
group to be a part of.
(15:34):
I recently just did not renewbecause it was too much of a time
commitment and I needed tofocus on that business.
But how much time me isbalancing on the networking versus
sales versus managing.
It's hard.
And the other hard thing isgiving up, I'll say the work and
making sure you rely on your people.
It's always hard.
(15:54):
As an early entrepreneur, Ithink the hardest thing.
And then I'll wrap up thisepisode that I see people do and
the biggest mistakes peoplemake, and that is focus.
And people know I have a lotof crazy ideas and I throw a lot
of things out there.
And I have a team that tellsme no, which is awesome.
You know, I'm not a dictator.
(16:15):
You need to have people whocan tell you focus.
Or where are we headed?
But as kind of eos, I'm thevisionary and I have my implementer,
who Lainey, who is awesome atbasically managing me, I guess probably
the best way to put it.
But no matter what ideas Icome up, they still are based off
of our core mission.
And now it's real estate,being a lending fund, you know, debt,
(16:39):
and pretty much our primary focus.
We are not out there growing,I don't know, a crypto fund.
We're not out there investingin credit card debt.
We're focused on real estate.
And that's kind of our main focus.
And that's where we're lookingto grow our business is doing what
we do now.
(17:00):
I'd rather be an expert at onething and then be average in multiple
things.
Hope you enjoyed this again.
I just want to reallyunfiltered share life as an entrepreneur
of everything you have comingand going on.
And now, as I like to say it'sawesome, but don't think and go into
(17:20):
it thinking it's easy and thatyou're going to run through instant
success.
Most of the biggest growthsyou typically have come after your
biggest failures.
So thanks everyone for listening.
Take care and we'll catch youon the next one.
Welcome back everybody toanother episode.
Today I wanted to talk aboutday in the life of an entrepreneur.
I also age myself, hit a bigmilestone coming up this year from
an age standpoint, talk aboutthat and kind of, you know, is it
every what everyone expects itto be or what is it?
(01:03):
And I have a very close friendwho I went to high school with.
And again, we live in otherparts of the country and haven't
stayed too connected withthem, but not close, but still connect.
And this other individual isalso launching a new business after
selling one at other businesses.
And now we share the warstories of what it's like to be a
(01:25):
business owner.
And first and foremost, it's hard.
People who tell you it's easy,it's not.
And those types of people,typically, you'll see them online,
driving fancy cars, wearingfancy clothes.
As you can see, I'm top of theline clothing outfit today.
I'm recording this on a Sundayand I'm dressed comfortably as I
(01:45):
am and sitting here recordingpodcasts and getting this done and
cleaning up, getting ready forthe week ahead and what am I expecting
to conquer as an entrepreneurthis week?
And I kind of chuckle a littlebit and when I don't, again get into
politics.
Rumblings came out about, youknow, people in government had to
(02:07):
answer five things.
They did that last week or whatever.
Now most businesses are alwaysasking people, you know, not exactly
in that same tone, you know,what'd you get done this week?
But it's like, what are youworking on?
What are your challenges?
What do you need help with?
That's part of being a goodleader in any type of business.
So what does that look like?
And I look at just this lastweek and like everything that I have
(02:31):
accomplished in this past weekand what does that mean and so forth.
And as I mentioned, we're ableto close on a large portfolio of
loans over this past week.
So as an entrepreneur, I hadto provide a lot of support to our
asset management team, makingsure they're on top of things, making
sure we're answering questions.
What does that look like?
(02:51):
We probably over the last weekspent close to four hours a half
a day in meetings with ourasset management team for that specific
purpose.
As an example.
Now, Lauren on the investorrelations side had set up some really
good meetings with somepotential new clients who have some
significant funds behind them.
(03:12):
Now I'm just looking and, youknow, we had two meetings this past
week in regards to presentingto clients, you know, potential clients.
So you'll constantly see as anentrepreneur back and forth in between
business development and operations.
And this is one of the areaswhere when we started the company,
(03:33):
you know, when Lauren came onboard, we both kind of joked it was
kind of proverbial match madein heaven.
Because she comes from thatsales background, I come from the
engineering analyticsbackground and let me run the business
and let her be out there, youknow, shaking hands and kissing babies.
And that's kind of how we'vesegregated a lot of things.
But she helps a little bit on ours.
(03:55):
I, of course, is the owner ofthe company.
They'll have to present ispeople want to know who you are.
And that's something that Ithink is really important as an entrepreneur,
as any business owner.
When you're seeking to sellany type of product, you need to
be in front of it.
People want to know who youare, what you do and how you do it.
(04:15):
And not just the genericstuff, but they really want to know
like the type of person you are.
You know, what's the energy,what's the plan of the business?
When people ask me, where doyou see yourself in five years?
My answer is sitting in thesame chair running the company.
Now I'm not building a companyto turn around and sell it.
I'm building a company forlong term growth.
I'm building a company doesn'tonly have me as a leader.
(04:39):
I learned this from EOS system.
I learned it when I worked ata large commercial contractor.
I learned it when I waslooking for a real estate developer.
There needs to be some type ofplan where it's not run by a dictator.
There's got to be a long termplan where it's not just run by one
person because if somethinghappens, that person and everything
falls apart.
You know, it needs to be runby people and you need to let your
(05:02):
people grow and flourish.
And I think that's oneopportunity with my team that we
do, I think very well.
We bring in the right peopleand also give them the opportunity.
We don't basically just pushthem down the slide, but do give
them a little bit of a push.
You know, that's something to consider.
And I think a lot of people,when they think of an entrepreneur,
(05:24):
they're like, oh, I'm justgoing to tell people what to do and
go out and golf and so forth.
But typically what ends uphappening is you start out working
100 hours a week because youtry and do it all versus bringing
in people or trying to figureout a way.
And if you bring in theexperts and it's going to cost you
something money.
But it gives you time and justrealize that, hey, look, on day one,
(05:46):
you're probably not going tobe profitable.
But what is your plan to getto profitability?
Something important tounderstand, something to consider.
For example, for me, my weekconsists of starting early because
it's two days a week.
I go to my kids sports.
That is the benefit of beingan entrepreneur and a business owner.
Previously in the W2 world,that was very challenging to do,
(06:06):
but now I can do that.
We are in the process of, I'llsay, some slight adjustments within
our company and now that has aperson coming on board to assist
in one aspect of our company.
So we spent a good amount oftime, for example, this week and
prior weeks.
But my operations director.
Okay, are we set up?
(06:27):
We ready?
This person's starting on Monday.
We good to go?
And let's make sure they justget out on the right foot.
I remember when I was workingat a company, my first day there,
the person was supposed tomeet me there, said, hey, what time
do you get in?
I'm like getting around 8:00,8:30, whatever, but early.
And I got there, I was thefirst person there.
I couldn't even get in thebuilding because pretty much half
(06:48):
the nobody really showed uptill 9.
So I sat in the lobby forabout a half hour and I was brought
upstairs and like, here's your.
I knew where my office was andthen I'm just sitting there waiting
and I called the person.
I'm like, hey, where are you?
And he's like, oh, I'm notgoing to be there till about 1.
Okay.
And basically people came in,got to meet people, you know, when
I was managing some people and stuff.
But it was really awkwardbecause I knew what I was going to
(07:11):
be doing, but I needed to be downloaded.
I knew what my role was.
But there was a specificconstruction project we're going
to be working on that add some information.
But it's like, okay, like, youknow, where do I find stuff?
You know, where's.
How do I systems log into the computer?
Like, where are all the filesso I can start digging through stuff
completely unprepared.
And as a business owner oranybody in management, you need to
(07:32):
be prepared.
And the most important thingis if you have a team, you need to
make sure your team has thenecessary tools and everything they
need to continue to move forward.
Something to consider.
We hope you're enjoying thisepisode of Creating Wealth Simplified.
We wanted to take a moment andtell you more about our Passive Income
(07:53):
Fund at 7e, which is open toboth accredited and non accredited
investors.
Our latest offering targets an8% annual return distributed monthly
with the ability topotentially achieve a greater return
through our bonus share program.
If you'd like moreinformation, reach out to us@Investenty
Investments.com to learn more.
(08:15):
Thank you.
Another interesting componentof the business is understanding
the capabilities of your team.
So we have some we'll callhigh priority loans now within any
portfolio, basically you havea roadmap of how loans will go and
certain ones you kind of puton a watch list and we have a watch
(08:37):
list slash high priority ofloans and our asset manager still
manages those.
But there comes times whereit's hey, we got to get an attorney
on a call or we're in amediation session.
And it's one of those thingswhere, hey, you know, I run the company.
I kind of need to be there asthe final decision maker.
Now let's get on that call.
This past week we hadmediation with a borrower actually
(09:00):
went very, very well.
Honestly, I didn't need to beon the call.
Looking back, Larisa, who runsour asset management side could have
handled it, which she didhandle it, but something that we
weren't sure which path it wasgoing to go.
So for me that was an easy one.
But then I had another onewith a borrower who there's kind
of three different options andinvolves some really business decisions
(09:22):
in regards to how we want tohandle this.
So it wasn't a straightspecific, okay, this asset type of
thing.
It has bigger, I want to sayramifications but implications on
which path do we want to go down?
Neither path is bad.
We win in every single one.
But which one do we win whereit's the lowest risk that also is
(09:43):
the most beneficial to thecompany and that's information that
honestly this person wouldn'thave because one of them is example
like okay, a payoff versus this.
And they're not privy to everylittle insider information within
the company.
So again, another aspect ofthings to understand is again those
limitations.
One of the things also that Ireally appreciate as part of being
(10:06):
an entrepreneur.
And again everything I sayit's, you know, you think that it's
hard but then you're like,this all seems sounds pretty easy.
But you're always focused ongrowing your business and how do
you grow that business and howdo you maximize your time.
And as I've grown as abusiness owner, you know, I used
to allow myself to be used andI mean that like freely in regards
(10:28):
to I'd have people set up acall with me, no problem.
I love to chat and talk, youknow, and I used to spend time doing
that.
Today, I really don't have thetime to do that.
You know, somebody wants toget in touch with me.
Like, I'm recording this.
It probably a week and a halfto two weeks to even get on my calendar
because I'm just so slammed.
And my main focus focuses onmy people, my company, and growing
the company.
(10:48):
It's not that I don't want tohelp you, but just realize I can't
drop everything I'm doing.
I set certain time per week ofstuff I enjoy doing, whether I'm
posting online, in a forum.
I'm in part of a group that wehave a monthly mastermind as an example,
that we meet for an hour.
I enjoy that.
That's fun.
But that doesn't grow my business.
So it's one of those thingswhere as you grow, it gets to that
(11:10):
point and you just have to beupfront to people, but make sure
you're also not being a dickabout it.
Excuse the phrase, but alsoit's going to be important.
This is where I see a lot ofentrepreneurs make this mistake,
which is you spend a lot oftime, what they'll call networking,
but it's the same people arealways talking to, is that person
bringing you business?
Are they moving the needle?
(11:31):
It's good to hear ideas frompeople, but you need to hear ideas
from a lot of people.
So, you know, for example, Igot connected with an individual
about a month and a half agowho now built us a relationship with
another company who might buyloans from us, huge opportunity for
us.
And then on LinkedIn, somebodywas connected to that person, connected
(11:54):
with me.
And now this individual has aprogram that kind of has an affiliation
with several other largerfirms that could even take what that
first person did.
And.
And now I'll call it supersize it.
And over this past week, Iprobably spent two hours on phone
calls with them and partners,building new relationships with them.
(12:17):
And this is one of the thingswhat I loved about what I used to
do is I would always go towork the next day not knowing what
it is I'd be doing.
Construction is like that.
Something happens on job site,it just completely blows up.
In your day, what you thoughtwas going to happen isn't.
That's what I love.
I still love that.
And this is just this pastweek, for example, talking with several
of these people, and they'reall like, oh, yeah, you're Going
(12:38):
to be in Miami in two weeks.
I'm like no, you know, and stuff.
And all of a sudden I'm like,you know what?
I need to be in Miami.
So the wife let her know I'mgoing to be gone for two days and
basically heading to Miamibecause literally just over a span
of week, four different peopleall are interested and now these
people that I'm going to bethere, have dinner, have lunch, have
(13:01):
coffee with them, gonna expandmy network, the people I've never
met and hopefully grow the company.
Now you also have to be honestwith yourself in the sense of, hey
look, it's first time meetingthese people.
It's not like it's immediatebusiness, not like you're gonna blow
up or expand, but it's aboutbuilding long term growth and relationship
which goes back to thatquestion of where do you see yourself
(13:21):
sitting in five years in thesame seat.
So I'm looking to build theselong term relationships with these
people.
So there's more things tounderstand, more things to consider
as part of that.
And as I look to again thisweek talk about some of the things
that occurred last week, thisweek I had to set some certain time
away because again we have onespecific asset that is extremely
(13:45):
challenging that I'm takingthe lead on.
And I still love managingassets, but I can't do that in the
day to day.
I gotta focus on growing your business.
As an entrepreneur, that'swhat people got to realize is you
can't always get caught in the weeds.
But you have to focus onwhat's going to grow the business
which this specific asset A isgoing to not grow.
(14:05):
The business will be verypositive for the business, but it's
something that okay, do I have.
This isn't a knock against mypeople, it's a little kind of outside
of their box because itinvolves more than just note investing
to manage, but also it'ssomething I love to do, but I'm going
to kind of manage it and do itin my free time as part of that.
So I wanted to just reallyfocus on kind of day in the life
(14:29):
of where you spend time, whereyou shouldn't spend time because
it's really a hard balance andI make it sound like it's easy, but
if you grow a business, youhave employees and managing people
is hard.
You know, not everyone's likeyou and you want everyone to be like
you, but people have differentskill sets, different personalities,
fitting right people on theright seat and on the right bus.
(14:51):
Adding people, sometimesgetting rid of people that's a hard
part of business.
And, you know, at the end ofthe day, it's not personal.
It's gotta be what's best forthe business and what you think can
make it grow.
And, you know, hardest thingthat I struggle with is, you know,
really that balancing of thatnetworking side of things.
You know, like I said,typically, you know, once a month,
(15:13):
I'm part of one mastermind.
There's another one I kind ofjust joined that they're meeting
once a month as well.
And that one is already.
It's different than the other.
So first, there are two verydifferent groups that I'm part of.
They're small.
Each one's five to 10 people.
And I think that's importantto understand and grow.
I used to be a member ofGoBundance, which was, again, a great
group to be a part of.
(15:34):
I recently just did not renewbecause it was too much of a time
commitment and I needed tofocus on that business.
But how much time me isbalancing on the networking versus
sales versus managing.
It's hard.
And the other hard thing isgiving up, I'll say the work and
making sure you rely on your people.
It's always hard.
(15:54):
As an early entrepreneur, Ithink the hardest thing.
And then I'll wrap up thisepisode that I see people do and
the biggest mistakes peoplemake, and that is focus.
And people know I have a lotof crazy ideas and I throw a lot
of things out there.
And I have a team that tellsme no, which is awesome.
You know, I'm not a dictator.
(16:15):
You need to have people whocan tell you focus.
Or where are we headed?
But as kind of eos, I'm thevisionary and I have my implementer,
who Lainey, who is awesome atbasically managing me, I guess probably
the best way to put it.
But no matter what ideas Icome up, they still are based off
of our core mission.
And now it's real estate,being a lending fund, you know, debt,
(16:39):
and pretty much our primary focus.
We are not out there growing,I don't know, a crypto fund.
We're not out there investingin credit card debt.
We're focused on real estate.
And that's kind of our main focus.
And that's where we're lookingto grow our business is doing what
we do now.
(17:00):
I'd rather be an expert at onething and then be average in multiple
things.
Hope you enjoyed this again.
I just want to reallyunfiltered share life as an entrepreneur
of everything you have comingand going on.
And now, as I like to say it'sawesome, but don't think and go into
(17:20):
it thinking it's easy and thatyou're going to run through instant
success.
Most of the biggest growthsyou typically have come after your
biggest failures.
So thanks everyone for listening.
Take care and we'll catch youon the next one.
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