Cashflow Diary™

Latest Episodes:

Avoiding The Doom Loop With Lucid Meetings Feb 25, 2019

Show notes

🔍 GET THE STR INSIGHTS THAT CREATED 7-FIGURE HOSTS
After managing 400+ units and helping STR hosts in 17 countries achieve $800+ monthly net income per bedroom, I'm sharing my best strategies - free.

Every Monday and Thursday, you'll get:
✓ One actionable STR automation strategy
✓ Data-driven market insights that matter
✓ Implementation frameworks that work
✓ Real case studies from our 20,000+ community

No fluff. No theory. Just proven systems from my living room "office" (fueled by Celsius and Chick-fil-A).

These are the exact insights that help our community achieve:
• 30%+ profit margins
• 80% automated guest communication
• 5+ hours saved weekly

👉 Join 20,000+ successful STR hosts at https://newsletter.cashflowdiary.com/welcome

Now, let's dive into today's episode...

ELISE KEITH is the founder and Meeting Maven for Lucid Meetings. She leads their research, publication, and product management efforts, constantly seeking the best ways to make it easy for people to enjoy meetings that get work done. Leaders call her blog "a treasure trove of valuable info and guidance" and "a game-changer for our organization."

When she isn't working on the industry-leading Lucid Meetings software platform, Elise shares her meeting expertise in presentations that audiences say are “inspiring,” “full of practical methods we can apply,” and “fill in all the gaps I didn't even know I had!” With a combination of experiences that gives her a unique perspective on meetings, Elise brings the awareness of a business owner, a software developer, a service provider, a researcher, and person who doesn’t like to have her time wasted, all combined with a deep expertise in meeting practice.

Podcast Highlights

Who is Elise Keith?

Elise graduated college with a degree in theater, so that make her a creative that loves meetings. She ended up going into technology instead and found herself working for companies that believed they were going to change the world. She saw people spending a lot of time in meetings generally being unhappy to be there, but eventually during the course of her career she saw the missing link that those companies were missing.

What if I don’t like meetings?

We have a negative association with the word ‘meeting’ as a society and that usually leads to a self fulfilling prophecy. If you think meetings are a waste of time, you aren’t going to put a lot of time in making it better. Our belief informs our action. The place to start is to change the belief.

Meetings at a company that cares about what they are doing, where the goal is to align and recreate the kind of culture they want to live, is a complete game-changer.

One of the keys to breaking the Doom Loop is to stop calling them meetings.

What does a good meeting feel like?

At a certain point in your organization you can no longer grow with just individual conversations. You need a formal meeting system to find solutions to the problems you’re facing.

Create a greeting ritual that communicates who you are and what you care about. A meeting is your moment to design what it means to be part of your company.

The icebreaker is a great ritual to open a meeting with. An icebreaker is a chance to be human and connect that way for just a few minutes.

You must have structure, but that doesn’t mean an agenda. Go over your numbers so you can keep score and help your team understand their contributions to the overall goals. Take the rest of the time and look at the top 3 problems you’re facing and figure out how you’re going to solve them.

Find a structure that works for you and then use week after week. Use one hour to learn a new meeting structure and save hours by not having to meet people one on one after your initial meeting.

Lucid Meetings

Education is a major component to the Lucid Meetings service. Meetings are a part of the business operating system, and communicating that is a big focus.

Only 20% of managers in the US get any sort of meeting training. You are designing the system of how your business is going to run. When you stand in front of the group you are marketing your vision of what it means to be a part of that group.

Meetings are teachable skills and the businesses that are thriving run really solid meetings. Bridgewater Associates, Pixar, Amazon, Oprah, and elite military teams like the Wildlands Firefighters have excellent meeting systems in place. Without it they wouldn’t be able to do what they do.

To move forward, you have to accept that this is an opportunity, not a burden. After that perspective shift it gets much easier.

Elise’s Takeaway

Find your story, find your why and tell that story to yourself so you can tell it to your team. Get your team involved in the experiment. You’re not going to get it right the first time, keep tweaking. The key thing about a meeting is that it’s not something that anybody ever does alone. Let them help you and suggest the ideas, you don’t have to do this alone.

Links:

lucidmeetings.com

Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

🏠 Want to Join the Elite 10% of Short-Term Rental Hosts?

Dear Future Top Performer,

Are you tired of working harder instead of smarter in your STR business? Here's a wake-up call: The most successful hosts aren't grinding 24/7 – they're leveraging a proven formula that transforms average properties into profit powerhouses.

Let me share something game-changing with you...

There's a simple yet powerful equation that's revolutionizing the STR industry:
L × C × F × M = GP

This isn't just another fancy acronym – it's the exact blueprint top performers use to:
• Generate consistent leads without burning out
• Convert browsers into eager bookers
• Maximize guest frequency (hello, repeat customers!)
• Amplify their margins while others race to the bottom

Right now, you're probably leaving thousands on the table. The truth? 80% of your potential profits are locked behind just 20% of the right actions.

Ready to stop bleeding money and start leading the pack?

Join our newsletter today and get weekly insights that will help you:
✓ Master the Growth Formula
✓ Optimize your listing for maximum visibility
✓ Create an irresistible guest experience
✓ Scale your business the smart way

Don't let another day pass watching others succeed while you're stuck in the grind.

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A New Kind of Leadership Feb 21, 2019

Show notes

No fluff. No theory. Just proven systems from my living room "office" (fueled by Celsius and Chick-fil-A).

These are the exact insights that help our community achieve:
• 30%+ profit margins
• 80% automated guest communication
• 5+ hours saved weekly

👉 Join 20,000+ successful STR hosts at https://newsletter.cashflowdiary.com/welcome

Now, let's dive into today's episode...

James Arthur Ray is considered one of the world’s foremost leadership and performance advisors, coaches and consultants. He began his career consulting with C-Level Executives at the AT&T School of Business. It was here that he realized his purpose for helping others find their unique gifts, and then leveraging them to take their life and business to new levels. His extensive study of behavioral sciences, experience as an entrepreneur, and tireless quest for spiritual knowledge gives him a unique and powerful ability to address issues in both life and business from an integrated level; much deeper and more fulfilling than most can accomplish.

His company hit The Inc. 500 in 2009 as one of the fastest growing privately held companies in the United States. James was featured in the film documentary “The

Secret,” a ground-breaking feature-length film, and New York Times bestseller. James has been interviewed in numerous national media outlets including a full-feature article in Fortune Magazine, People Magazine, Larry King Live, Piers Morgan, the Today Show, CNN and Oprah.

He is the author of the New York Times Bestseller Harmonic Wealth: The Secret to Attracting the Life You Want which focuses on his principle of Going Three For Three:

how to effectively bring your thoughts, feelings and actions into harmony with bold application. James states vision without bold action is a total waste of time. James’ new book Redemption: The Price of Leadership in Both Life and Business is scheduled to be

released in 2018.

Podcast Highlights

Who is James Arthur Ray?

James is the dark knight of leadership performance. He didn’t grow up in a wealthy family though. He was a skinny, scrawny, awkward kid that got bullied in school. James father was a dynamic speaker and Protestant minister which contrasted quite a bit with James personality.

Early on in James’s life, he had many questions about life and the way things work which lead to him studying a variety of topics including business, philosophy, psychology, biology, and even quantum physics. He started looking for ways to synthesize the common threads between all these very different areas of knowledge.

Leadership

We live in very disruptive times, AI is on the rise and the fact is if you are not doing something unique and accessing your full human potential you’re going to be left behind.

Leadership isn’t a title or position, that’s positional power. It’s also not the number of social media followers you have. Leadership is first and foremost about leading your own life. Self awareness is the number one necessity in today’s world in leadership and entrepreneurship.

There shouldn’t be a dividing line between life and business. Most people who preach balance aren’t actually balanced in their lives.

Balance and Wealth

Most people think wealth means money, but the root definition of the term means well-being. For every person is successful, 20 people attempt and are not successful. We’re in a technology and psychologically disruptive world.

In perfect balance nothing happens. Noone is in perfect balance. Life balance is one of the greatest causes of suffering in the entrepreneurial world. You have to be able to put attention to the five pillars of success in everyday life and put them into harmony, not balance. These pillars are Financial, Relational, Mental, Physical, and Spiritual.

There will be times when finances are tight. If you’re shooting for balance you’re going to feel depressed and guilty, but the fact is you’re going to have to realize that you need to hustle and let some other aspects of your life take a back seat. Don’t totally neglect the other areas but you have to focus.

Balance as it’s perceived is not achievable, harmony is. Sometimes you have to lead with your spiritual or financial pillar but you can’t neglect the others completely. When you forget about the other pillars in favour of just one, that’s when you break.

What is this different type of leadership?

A lot of entrepreneurs believe they don’t have time to work out, but the truth is they don’t have the time to not work out. You are going to need a tremendous amount of energy to realize your vision. Exercise is vital to maintaining your ability to perform so you need to schedule it everyday and commit to it just like you would a meeting.

It takes a long time and a lot of energy to create something great. Your diet, mental health, physical strength, and power have to be maintained. Working out and eating right is not a luxury, it’s part of your job. If you don’t take care of yourself, life will make you take care of yourself.

In a disruptive world, entrepreneurs have to make time to keep themselves healthy. Every year you live healthily, science is giving you another year to live healthily. Longevity and immortality and almost a reality, but it won’t matter if you don’t take care of yourself now.

It’s not that it’s not possible, it’s that you’re not thinking in a way that makes it possible.

All the highest performers in the world have rituals and schedules they go by and stick very strictly. James’s Prime Objective is to take care of himself first and then attend to the rest of the day. James gets up at 3:45 am because that’s when there is no distraction and an opportunity to get in the flow state.

The average person spends 50% of their time in distraction, this is why most people won’t even scratch their potential.

To become a new leader you need to use new strategies. Always look at the value instead of the price. The value of the things James is talking about is way higher than the price. In entrepreneurial language, there is a high ROI on staying physically and psychologically strong.

Reference: Harmonic Wealth: The Secret to Attracting the Life You Want, James Arthur Ray

James’s Takeaway

Never leave the site of setting an intention or goal without taking some kind of action within 24 hours. When you learn to structure your day accordingly, you have a lot more time and energy and less guilt about the things you’re not doing. Schedule your day in blocks and don’t let distractions eat your day. Design your day and then begin to implement.

Links:

jamesray.com

Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

🏠 Want to Join the Elite 10% of Short-Term Rental Hosts?

Dear Future Top Performer,

Are you tired of working harder instead of smarter in your STR business? Here's a wake-up call: The most successful hosts aren't gr...

Community Based Car Sharing With Envoy Feb 18, 2019

Show notes

No fluff. No theory. Just proven systems from my living room "office" (fueled by Celsius and Chick-fil-A).

These are the exact insights that help our community achieve:
• 30%+ profit margins
• 80% automated guest communication
• 5+ hours saved weekly

👉 Join 20,000+ successful STR hosts at https://newsletter.cashflowdiary.com/welcome

Now, let's dive into today's episode...

Ori is a serial entrepreneur with extensive experience in developing high growth businesses. He is responsible for leading the vision, strategy, and growth for Envoy, as the company continues to build out a robust global infrastructure. With nearly 2 decades of experience driving successful entrepreneurial ventures, including Smart IL and Lenn Ventures, Ori has a vast knowledge of various facets of business including new business incubation, venture investing activities, project management and business development. Over the past 10 years, Ori shifted his focus towards real estate related investments, including acquisition and operations, as well as actively initiating technology related ventures in the US market.

Podcast Highlights

Who is Ori Sagie?

Ori believes that what entrepreneurs true heroes is the time and sacrifice they have to make to achieve their goals. Ori was born is Israel and has always been focused on the why of success. Why you want to do it and why people need it is the essence of the success of every venture.

Looking at what people are doing to solve their problems is a way to figure out what solutions to work on.

Is it still a sacrifice if you’re not aware you’re doing it?

It’s always a sacrifice, there is always an opportunity cost to what you do. You have to understand your skillset and what you are willing to give up in order to reach your goal. You may want to be a tech entrepreneur, but maybe you’re a great singer.

Sacrifice is about giving up something good for something better.

Ori and his partner Eric have worked together for a long time, the development of their business is due to their evolution as people and observing the market. They realized that mobility is an amenity and a need for many people that needed a solution, which is where the idea for Envoy began.

Time to market is the most critical thing for the success of an entrepreneur.

Real Estate

When you assess the market correctly and buy a good property that creates stability. For Ori real estate is nice but not where his creative genius lies. In order to succeed in real estate you have to know what you’re doing, it’s not a simple matter of leveraging your assets. There is a lot of information and research that goes into it. Spend a few hours looking at the physical property you are going to spend your money on.

There is no silver bullet or free rides. Don’t build your life on the hope that you made the right choice. The key element is to be realistic with yourself and assess the situation. As Ori likes to say “go touch the wall.” Respect the hustle.

Envoy Car Sharing

Envoy is the 3.0 version of car sharing. There is a big difference between something becoming an amenity and something being a service.

Envoy is community based car sharing, they provide electrical cars and infrastructure to properties so those vehicles become an amenity to those tenants or guests. A good comparison would be the gym in the building, with Envoy now there is a car in the building as well.

For you to get rid of your car, you have to rely on another mode of transportation. The more options you have, the more likely car ownership is unnecessary. Multiple modes of transportation available to you becomes you mobility solution.

Envoy’s current focus is on property portfolios of 100 units and higher, but they will eventually make their way to working with smaller communities.

The number one thing people purchase after they choose their short term rental is a car service.

The idea for Envoy came from Ori’s experience as a real estate investor himself. Real estate operators have an opportunity to provide an amenity that they can do at zero to low cost to their tenants, the tenants get access to mobility that they may not otherwise have, and the city gets a break on its infrastructure requirements. Envoy is one of the only companies on the market with a true understanding of community based car sharing.

Hearing the no’s takes you to the yes’s. Coming from real estate really helped Ori and his partner understand the mindset of real estate operators and know their service is valuable and worth supporting. Going lean and efficient has also given them the advantage.

Envoy is becoming a real competitive advantage for property owners.

Ori’s Takeaway

Think of the idea that you have been contemplating for years but never done anything with and just write the first step you need to take in order to execute it. Only 1% of people have the ability to take an idea one step further. Don’t think about the networks or conquering the world, just focus on the next step to making it happen.

Links:

envoythere.com

Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

🏠 Want to Join the Elite 10% of Short-Term Rental Hosts?

Dear Future Top Performer,

Let me share something game-changing with you...

There's a simple yet powerful equation that's revolutionizing the STR industry:
L × C × F × M = GP

Right now, you're probably leaving thousands on the table. The truth? 80% of your potential profits are locked behind just 20% of the right actions.

Ready to stop bleeding money and start leading the pack?

Don't let another day pass watching others succeed while you're stuck in the grind.

👉 Click here to join the newsletter and start your journey to the top 10%!

Lisa Phillips On Affordable Real Estate Feb 11, 2019

Show notes

No fluff. No theory. Just proven systems from my living room "office" (fueled by Celsius and Chick-fil-A).

These are the exact insights that help our community achieve:
• 30%+ profit margins
• 80% automated guest communication
• 5+ hours saved weekly

👉 Join 20,000+ successful STR hosts at https://newsletter.cashflowdiary.com/welcome

Now, let's dive into today's episode...

Lisa Phillips is the founder of Affordable Real Estate Investments and #1 bestselling author of Investing in Rental Properties for Beginners: Buy Low, Rent High. After her second layoff and a foreclosure in the bloated Las Vegas, NV real estate market, Lisa found herself alone and halfway across the US from her friends and family with no job. She was left with a 35k condo and only enough money to renovate the place doing the work herself to stretch her unemployment check. It not only gave her a solid foundation of repair maintenance and costs, but also a taste of how owning real estate could be affordable and profitable. After purchasing four more rental properties around or under 30K in OH, MD, and VA, Lisa is now focused on doing one thing she loves to do: showing EVERYONE how they too can affordably start investing in real estate for high profits and cash flow.

Podcast Highlights

Who is Lisa Phillips?

Lisa Phillips was born in an impoverished situation but has a strength and conviction that the world can be a better place. Everyone has a need for a house, but there is another process that goes into turning a house into a home, which is one of Lisa’s innate talents.

Lisa was born and raised in Las Vegas and saw the real estate market in the area and thought it was going to the moon. After getting laid off, Lisa had to move to Ohio to find a job that paid a similar salary to what she was making before, which she needed to covering the mortgage on the condo she had purchased. One of the main lessons she learned from that experience was to make sure the average rent of the neighbourhood can cover the payment in case you need it to.

While living in Ohio, she was laid off again after purchasing a small condo and realized that low priced and affordable homes are a great protection in times of recession and uncertainty.

Saving Money For Real Estate

When you’re single you choose what level of savings you want to achieve. Once you have a family it becomes much harder to save the same level because your dream of frugality may not be theirs.

Courage

Courage comes from being true to who you are. It comes from acknowledging your soul and not letting other people tell you how you live your life. Listen to your own internal intuition and guidance, don’t ignore it.

Lisa noticed that every time she didn’t listen to the voice in her heard, she tended to regret it so she had some practice with it. It can be very hard when everyone around you is going in one direction and your intuition is telling you to go the other way but Lisa found that the more she listened to her soul the more she came out ahead.

Optimism and confidence in yourself to figure out something for yourself or ask for help are two other tools that will help you succeed. You can weather through the storm.

Lessons learned can help you when you get burned. By having such a negative experience with her first real estate purchase, Lisa learned a lot about the economics and math of the whole process and that helped her with her future deals.

Why do you help people?

Lisa felt that even though she doesn’t have a massive portfolio of properties she still had some knowledge that other people could really benefit from.

Inspiring people and creating a culture of responsibility are big reasons why Lisa continues to talk to people about her real estate methods. She knows that it doesn’t take a huge number of properties to change the way you think about life and allow you to do things that you always wanted to.

If even 10% of the people in the world had the financial ability to spend most of their time doing the things that they really love, the world would be a different place. Sometimes you just need to see someone else do it before you realize you can do it yourself.

Reference: Investing in Rental Properties for Beginners: Buy Low, Rent High, Lisa Phillips

Lisa’s Takeaway

First get really clear about what you want and why you’re doing it. Then talk to yourself in your head about what that vision will do and what it’s going to be. Don’t tell anyone else until why you believe it. Do the research so you can minimize the risks and then choose the path to get you there. Start acting. Have your daydream sessions and then make them fun. Find a coach and talk to them about what you want to achieve, invest in people that can help you.

Links:

affordablerealestateinvestments.com

youtube.com/user/affordablerei

Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

🏠 Want to Join the Elite 10% of Short-Term Rental Hosts?

Dear Future Top Performer,

Let me share something game-changing with you...

There's a simple yet powerful equation that's revolutionizing the STR industry:
L × C × F × M = GP

Right now, you're probably leaving thousands on the table. The truth? 80% of your potential profits are locked behind just 20% of the right actions.

Ready to stop bleeding money and start leading the pack?

Don't let another day pass watching others succeed while you're stuck in the grind.

👉 Click here to join the newsletter and start your journey to the top 10%!

Keyword Phrase: Rob Jolles Rob Jolles On Getting Other People To Believe In You Feb 04, 2019

Show notes

No fluff. No theory. Just proven systems from my living room "office" (fueled by Celsius and Chick-fil-A).

These are the exact insights that help our community achieve:
• 30%+ profit margins
• 80% automated guest communication
• 5+ hours saved weekly

👉 Join 20,000+ successful STR hosts at https://newsletter.cashflowdiary.com/welcome

Now, let's dive into today's episode...

Rob Jolles is a sought-after speaker who teaches, entertains, and inspires audiences worldwide. His live programs in and around the world have enabled him to amass a client list of Fortune 500 companies including Toyota, Disney, GE, a dozen universities, and over 50 financial institutions. He is the best-selling author of six books, including his latest release, Why People Don't Believe You...Building Credibility from the Inside Out.

Podcast Highlights

Who is Rob Jolles?

Rob Jolles was raised by a Marine and taught discipline quite early. He stumbled out of the University of Maryland and found himself working for New York Life Insurance. When Rob thinks of superheros, he sees someone that can take a punch, just like entrepreneurs. Everything in Rob’s life relates to getting knocked down and having the discipline to dust himself off and get back up.

Once Rob graduated the only thing he knew for sure was that he wanted to generate income. For him life insurance was the fastest way to accomplish that goal. Since he had 36 first cousins in the state of Maryland he had a bit of a safety net to rely on. Rob says that once you get through your relatives and family, that’s when you find out who you are.

One of the easiest ways to end a conversation is to tell people you sell life insurance. The reason people take a step back when you mention selling is because of bad actors that treat selling as a hiring mill. The constant churn of salespeople creates a terrible reputation for sales in general.

Why is sales such a difficult subject for people?

Most people are exposed to the lower end of the sales world which creates a negative imprint. Sales is more than sales though, it can also be thought of as influence and persuasion and a way to get an idea into someone’s head that allows them to take an action that’s good for them.

Sales and belief are intrinsically connected. Before we can get others to believe us, we have to believe us. If you believe your product is bad, you’ve got a problem. If you honestly believe your product is good, it’s so much easier to get other people to believe it too.

Belief

We have a lot of negative voices in our head that tend to chirp at us and we think they may not add up to much but they have a huge impact. They accumulate and you start believing it.

Take yourself to a moment where you were at your best. How do you think you felt? Train yourself to find that place where you felt powerful. The body doesn’t know when the mind is acting.

People say no to the person you were being at that moment, not because of the words you used.

Rob helps people that have the words but lost the tune. He started applying acting skills to his teaching methods and showing people how to be authentic. Everyone can lose their tune, some have never even heard it. It’s important to deemphasize the words, everyone has a limp.

We have to come to grips with our limp and realize that it’s ok.

Learning The Tune

Everyone has their own tune. You will never have someone else’s tune, you have to work with what you got and trust yourself.

We obsess on things that are not in our control. Play the course, not the opponent. When you realize that worrying is a misuse of your imagination and focus on your authentic tune, that’s when you win.

We are born to extract the greatness that is buried inside. Be who you are when you’re not selling.

People don’t fix small problems, they fix big ones. A well trained salesperson is someone that has your best interests at heart and has the passion and the skills to spare you the pain of your big problems. If you’ve ever been to a well trained therapist, you have already experienced what a well trained salesperson is like. They don’t paint the picture for you, they give you the brush and let’s you paint your own picture.

Great salespeople are harder to spot because it looks like a normal conversation.

Realize that product knowledge is overrated. Look to work with people that are able to communicate. Needs based selling doesn’t work. The majority of the population know they have a problem, they just don’t want to do anything about it. You have to go deeper, ask questions, listen, and don’t try to fix the problem. Let the client articulate the problem deeper and spend more time there.

The bigger the problem, the bigger the need and the bigger the need the more urgency the customer is going to feel to fix it.

Reference: Why People Don't Believe You...Building Credibility from the Inside Out, Rob Jolles

Rob’s Takeaway

Good speakers and authors are not trying to just inspire and entertain, they should be creating repeatable predictable processes. No matter whose work it is, make sure there is a definable process that you can measure. Don’t be afraid to try and fail, you don’t have to put it all together at once. Drip it together piece by piece and ask more open questions.

Links:

jolles.com

Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

🏠 Want to Join the Elite 10% of Short-Term Rental Hosts?

Dear Future Top Performer,

Let me share something game-changing with you...

There's a simple yet powerful equation that's revolutionizing the STR industry:
L × C × F × M = GP

Right now, you're probably leaving thousands on the table. The truth? 80% of your potential profits are locked behind just 20% of the right actions.

Ready to stop bleeding money and start leading the pack?

Don't let another day pass watching others succeed while you're stuck in the grind.

👉 Click here to join the newsletter and start your journey to the top 10%!

Consistency Beats Intensity, Finding Abundance With Real Estate Investing Jan 31, 2019

Show notes

No fluff. No theory. Just proven systems from my living room "office" (fueled by Celsius and Chick-fil-A).

These are the exact insights that help our community achieve:
• 30%+ profit margins
• 80% automated guest communication
• 5+ hours saved weekly

👉 Join 20,000+ successful STR hosts at https://newsletter.cashflowdiary.com/welcome

Now, let's dive into today's episode...

In 2015, Paul Thompson wanted out. His corporate office had become a suffocating cell. Paul decided to start buying rental houses, build passive income and break the chains of Corporate America. He was so successful, he secured 20 deals in his first 18 months of investing. Since that time he has acquired more than 2 dozen rentals without bank financing.

Now he teaches others how to raise money from regular people that have some funds to invest. In addition to coaching others and still investing himself, Paul hosts a podcast to educate others. Ready Investor One offers tips, hacks, insights and more for listeners interested in creating opportunities for passive income. “Level Up Your Life through real estate investing.”

Podcast Highlights

Who is Paul Thompson?

Paul was a normal average person working in corporate America trying to climb the corporate ladder. Eventually he realized that the ladder he was climbing was against the wrong wall and needed to find a way out. He started looking for way to replace his income and considered a lot of opportunities including a new job and buying a franchise, but he decided to go down the path of real estate investing. He purchased 18 properties in the first 18 months, but took the process one step at the time.

Real estate investing can be uncertain but it can be done with less risk than starting a business.

Neural science has proven that to make any lasting change, you have to have one of three things: you have some sort of an epiphany, you change your environment, or you take baby steps. For most people they need the epiphany which is what happened with Paul. He realized that the freedom to choose what he does with his time was what he really wanted and had to do something to make that a reality.

Teaching Children

Kids do what they see, not what they hear. Paul wants to be an example for his children and for them to remember the time he spent with them. Kids don’t really care about what you’re doing for income, they care about how much time you spend with them.

Real Estate Investing Day One

Paul was actually laid off from his job which is usually quite a rough event in someone’s life, but for Paul it was the fourth happiest day of his life after his wedding and his kids birthdays. He had already been planning for the day when he would put in his resignation so he was quite ready by that time.

One of the very first influencers that Paul had found was J Massey and one of the things that J talks about a lot was private money, so that’s what Paul focused on at first. He met a local wholesaler and a private money lender and managed to put a deal together that made sense for everyone involved.

As Paul has expanded and gotten more savvy his criteria has gotten more strict but finding the right kinds of properties has actually gotten easier.

New Ways Of Thinking

Paul has codified his mindset around money. Most of the things that we’re taught about money is wrong. You’re taught to be an order taker and to finance all your consumer activities. We hear the cliche all the time that time is money, but only people who are not entrepreneurs think that way.

You have to switch your mindset and recognize that the money isn’t in the time, you use your time to set up systems that scale and separating your time from your money. When people ask Paul how he makes money he tells them he doesn’t make money, his money makes him money.

Paul has found his zone of genius is in taking information and breaking it into smaller pieces that allow other people to make transformations in their lives.

Ready Investor One

Real estate investing is a game and Paul teaches listeners how to take the individual approach and how to invest in themselves and in things that pay for their lifestyle. Paul is also a child of the 80’s so the all the references in the book really resonate with him.

Investing in more than money, you should always be investing in yourself. The more you put in to your own skill set, the more you will get out of it.

You also have to develop strong relationships and upgrade your friends. They are probably following the same mindset that doesn’t work, get around other people that are on the same path as you and have some interesting conversations.

Paul’s default behaviour is to spend the first few hours of each day investing in himself and sculpting his internal monologue and the story he tells himself. Reading more and meditation are big components of upgrading yourself. The final piece of the puzzle is exercise, even a little bit of exercise can allow you to be more present in your life.

Paul’s Takeaway

Choose your path, either investing in the stock market, buying property or starting a business. Those are the fundamental three paths to freedom. Then start small with the most fundamental baby steps towards that. Measure one thing only: how many offers you are making. Everything that is in your way is your task. Track for 100 days one step that you are doing consistently. Consistency beats intensity. When you take a step, give yourself a checkmark. If you never miss twice, you will find yourself at a place of abundance in five to ten years.

Links:

pauldavidthompson.com/cashflowdiary

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Muck Rack And Creating Powerful PR To Get Your Message Out Jan 28, 2019

Show notes

No fluff. No theory. Just proven systems from my living room "office" (fueled by Celsius and Chick-fil-A).

These are the exact insights that help our community achieve:
• 30%+ profit margins
• 80% automated guest communication
• 5+ hours saved weekly

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Gregory Galant is Co-founder & CEO of Muck Rack, Host of the Venture Voice podcast, and Co-founder of The Shorty Awards. Previously, Greg was an associate producer at CNN.com. In 1996, Greg founded Halenet, an award-winning Internet strategy firm while in high school.

Podcast Highlights

Who is Gregory Galant?

Greg has been a lifelong entrepreneur. He got onto the internet very early on and taught himself to create and code websites, skills which he then used to build a business while in high school and beyond.

While working as an associate producer at CNN.com in 2005, Greg had the idea to download mp3’s of spoken word content, more commonly known as podcasts. He started one the very first podcasts focused on entrepreneurs where he interviewed people like Reid Hoffman, the founder of Yelp and more. One of his podcast guests named Evan Williams was working on a prelaunch company that ended up being a failure, but that lead to him pivoting to his side project which turned out to be Twitter.

Greg’s philosophy when starting a business is if you can try it out quickly and cheaply, don’t think about too much. If it doesn’t work, you only lost a couple of weekends. Greg has found that the longer he thinks about an idea before launching it, the worse it does.

The Shorty Awards lead to Greg noticing that journalists were using social media to figure out what to write about. This lead directly to the idea for Muck Rack.

What is the business model behind an awards show?

In the beginning sponsorship was the main revenue source for the Shorty Awards. They quickly found out that sponsorships are very unreliable so they needed to figure out another way to generate revenue. Greg noticed that agencies were doing more digital work and were used to paying an entry fee to be entered into an awards show. They decided to keep it free for individuals but for branded agencies to charge an entry fee.

Thousands of companies pay The Shorty Awards a little bit of money so they aren’t beholden to any one company.

Dealing With Uncertainty

If you want to have a reputation as a good business person, be sure to get into a good business. Does your business have a good revenue model? Revenue diversity is important to eliminating some of the risk inherent in business. No one customer should make up more than 10% of your revenue.

It’s okay to start with a less than optimized revenue model if it allows you to transition into a more stable one.

PR And Muck Rack

Greg saw that journalists were on social media but that it was hard to find them. He came up with the simple idea of a website that allows you to see the journalists on social media and what they were sharing. They ran it as a free resource site on the side of the Shorty Awards but eventually realized that it more potential.

Muck Rack transitioned into a subscription service to pitch journalists after feedback from one its users.

The big difference between Muck Rack and HARO is Muck Rack is really more of a search engine for journalists that allows specific targeting of journalists based off what they write about. It’s more of a proactive approach to getting PR.

The number one thing for entrepreneurs to keep in mind when they are pitching journalists is that they are human beings. Be personable and thoughtful in your outreach. If you do your research and send them a relevant pitch, you are actually helping them. The generally love hearing from an entrepreneur because of your natural passion for the business.

Try boiling the down your pitch to a tweet. What’s newsworthy about your business that you can convey in one sentence? Write the headline to see if there is something really interesting or if you’re just caught up in your own story.

Gregory’s Takeaway

Think through the worst case scenario. If the costs to try a business are low and the worst case is that you lose a couple of weeks of your time, you can think of it as an experiment that didn’t work out instead of a failure if it doesn’t work out. You’ve got very little to lose and there’s a good chance that there is lots of upside if it works out well.

Links:

muckrack.com

shortyawards.com

@gregory on Twitter

Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

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Lessons From The Founder of Upwork Jan 24, 2019

Show notes

No fluff. No theory. Just proven systems from my living room "office" (fueled by Celsius and Chick-fil-A).

These are the exact insights that help our community achieve:
• 30%+ profit margins
• 80% automated guest communication
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Beerud Sheth is the Founder of Elance (now Upwork). He is also the founder & CEO of Gupshup, the world's leading messaging and bot platform. From immigrating to the US at 20, to founding Upwork (then Elance) in a cramped Jersey City apartment, to creating chatbots for the biggest companies in the world, Beerud’s journey as an entrepreneur and tech visionary has taken a number of surprising turns.

Podcast Highlights

Who is Beerud Sheth?

Beerud grew up in Mumbai, India in an average middle class family and was blessed with decent analytical skills. He was always good at math and computing but more than that, he had always been driven and determined with whatever he was working on. Those are the traits that have served him well in his life because no matter how hard you work, things don’t always go as planned.

Elance to Upwork

It took 20 years to take Elance to IPO, this is a reflection of the typical overnight success story in Silicon valley. There were many challenges along the way.

The IPO is not the end goal. In many ways Upwork has barely scratched the surface of the freelance economy. The point is not the IPO itself, it was to build a company that adds value to millions of people and generates a profit. In that, Upwork has certainly succeeded.

Entrepreneurs tend to overestimate the short term and underestimate the long term.

All of Beerud’s skills and experiences culminated in the idea that would eventually become Elance and later on Upwork. The core idea has remained essentially the same even though the business has evolved quite a bit.

Entrepreneurship is a balance of irrational exuberance and a strong realism. When you’re trying to execute something you have to be realistic about what your customers want and how long it will take. The 2001 financial crisis forced Beerud to reevaluate his company and restructure it in a lot of ways. If you don’t have runway, it doesn’t matter what your ideas are because you can’t execute.

Planning For The Bad Times

Much of it comes down to psychology. Try not to get too excited when things are going great but also try not to get too down on yourself when things aren’t going well. You can’t control what happens in the world, but you can control how you respond to it. Your own psychology can get in the way of your own clear thinking.

Entrepreneurs tend to take on all the stress upon themselves. Focus on what you can control and can do. It’s not the bad stuff that is happening to you it’s how you respond to it that determines the outcome.

Beerud relied on the advice of VC’s and mentors that were involved in the company. Leverage whatever resources you can and people’s willingness to share their wisdom, that’s one of the greatest strengths of Silicon Valley.

When you start a company people rely on you. Beerud always had an immense sense of obligation to the people he worked with so quitting wasn’t an option to him.

If there was no Upwork, would there be no AirBnB or Uber?

You can’t say for certain but Upwork definitely blazed a trail. In many ways those companies were able to take advantage of the lessons Upwork learned and the validation it provided.

The success of those companies validates the initial idea of Upwork even more.

What’s coming in the future?

Gupshup is Beerud’s latest project. It’s a messaging platform that enables businesses to communicate with consumers in more intelligent ways. Gupshup basically simplifies your messaging channels by combining them so it’s easier to manage and then allows you to automate a lot of the most common questions.

Businesses have to be where the consumers are but the proliferation of messaging channels is making that much more difficult. But if you get that right, you have a major advantage.

Where did the drive to solve complex problems come from?

Beerud likes to connect the dots. When you enable two way conversations it becomes very powerful for a business to understand its customers but that leads to another problem. Solving those kinds of big problems is something that Beerud enjoys.

It’s equally hard to solve a small problem and a big problem, so you might as well work on a big one because if you succeed the outcome is that much greater.

AI enabled chatbots can be very useful to small businesses. Gupshup is creating templates for different kinds of businesses that make it more plug and play. Small businesses are always tight for resources and a chatbot can make a big difference.

Beerud’s Takeaway

Listen to the voice to the extent of trying to understand why it is saying what it is saying. If it’s just fear mongering for no reason, that’s not very helpful. It’s good to understand the risks and challenges involved but you have to follow your gut if you believe it’s the right course. It’s okay to be nervous, that’s part of the journey. You have to dive in and go for it but do it with your eyes open. It will prepare you for the inevitable challenges that are going to follow.

Links:

gupshup.io

Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

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Let me share something game-changing with you...

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L × C × F × M = GP

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Scaling Past Your First Deal With Syndication Real Estate Jan 21, 2019

Show notes

No fluff. No theory. Just proven systems from my living room "office" (fueled by Celsius and Chick-fil-A).

These are the exact insights that help our community achieve:
• 30%+ profit margins
• 80% automated guest communication
• 5+ hours saved weekly

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Now, let's dive into today's episode...

Todd Dexheimer, CEO of Venture D Properties, LLC started investing in Real Estate in 2008 in mainly single family homes and multi-family. Since 2008 he has purchased and renovated roughly 500 units. Todd has completed over 150 flips, including a 20 unit mobile home park, a ski resort and a 15 unit apartment complex, while using those profits to build his rental portfolio. Currently Todd owns approximately 350 units located in 4 states. His focus is on syndicating value add multi-family in emerging markets.

Todd is also the host of the podcast Pillars of Wealth Creation and does some coaching

for multi-family investors. Todd is passionate about teaching others how to create a business and how to take control of your finances. Todd was a high school industrial tech teacher prior to investing.

Podcast Highlights

Who is Todd Dexheimer?

Before real estate Todd was a high school shop teacher and he wasn’t particularly entrepreneurial, but he always had an itch to do something more. Within three years of working as a teacher Todd dipped his toes into the real estate world.

Todd started by reading about business and eventually made his way to learning about real estate where he became obsessed with the idea of investing in it. When he was working as a teacher, he knew he needed to find a way out and real estate appeared to be the best way.

Teachers don’t get paid a lot so it wasn’t that hard to replace the income with cash flowing real estate. When you look at the numbers and think about the time and money it takes to get there, being a teacher is a tough call.

What inspired you to pick up the books?

Trying to figure out what’s next was the main reason Todd started reading, even though he was never a big reader. Todd didn’t have any real mentors around him to learn from so books were his only option.

You don’t have to live next door to someone to learn from them.

Real estate became the path because the numbers just make sense. Real estate replaces the requirement to work, at least not very hard, and makes retiring much more achievable.

Going Full Time Into Real Estate

By the time Todd quit his job, he had already been investing in real estate on the side for a few years so the transition wasn’t very difficult. His income from real estate had already exceeded his income as a teacher by that point.

You don’t need to always graduate, you can start now and gradually work your way up. Scale as quickly as you can and look for partnerships/syndication real estate opportunities that can help you reach your goals.

Education and experience is great but it doesn’t take years to get started.

You have to get off your couch and go do a deal. You have to go find it, because deals won’t come to you in the beginning. There are lots of ways to go big, it doesn’t have to be the traditional path that you think it is.

You have to put yourself out there to take advantage of opportunities that come your way.

Syndication Real Estate

Eventually you run out of your own resources so syndication real estate is a natural next step. If you want to scale, partnerships are required. Syndication is how to scale past your first deal. If you become known for getting your investors a good return on their money, you will have a list of people happy to give you their money.

Once you start to understand what opportunity looks like, you can’t stop seeing them all around you.

Todd’s Takeaway

It starts with your ‘why’. You have to fully commit and can’t take no for answer. You’re going to get punched in the face, get told you’re crazy, and get told no, and if you listen to that you’re never going to get started. When you do stumble, and you will, the most important thing is to push harder and know that you’re on the right path.

Links:

venturedproperties.com

Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

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L × C × F × M = GP

Right now, you're probably leaving thousands on the table. The truth? 80% of your potential profits are locked behind just 20% of the right actions.

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Breakthrough Innovation In Your Business Jan 17, 2019

Show notes

No fluff. No theory. Just proven systems from my living room "office" (fueled by Celsius and Chick-fil-A).

These are the exact insights that help our community achieve:
• 30%+ profit margins
• 80% automated guest communication
• 5+ hours saved weekly

👉 Join 20,000+ successful STR hosts at https://newsletter.cashflowdiary.com/welcome

Now, let's dive into today's episode...

Nathan Furr is an Assistant Professor of Strategy at INSEAD, where he teaches innovation and technology strategy. He is a recognized expert in the fields of technology strategy, digital transformation, and disruptive innovation. He is the #1 bestselling author of Nail It Then Scale It: The Entrepreneur's Guide to Creating and Managing Breakthrough Innovation, The Innovator's Method: Bringing the Lean Start-up into Your Organization, and the new book LEADING TRANSFORMATION How to Take Chargeof Your Company's Future.

Podcast Highlights

Who is Nathan Furr?

Nathan cares about the dreams that people have and them getting the chance to pursue those dreams. He started his career in industry and even tried his hand at a start-up where he learned a lot of lessons the hard way. This lead him to ask the question of “how does breakthrough innovation really happen?” and eventually to Silicon Valley. That’s where he stumbled upon the fundamental dilemma that he’s been trying to answer with his books and work.

We live in an environment of uncertainty and change and the tools we use today were designed during the industrial revolution, they were not designed to address an environment of radical uncertainty and hyper change. Uncertainty is the main theme that runs through all of Nathan’s work.

It’s hard to see beyond the fence of your daily life what’s possible.

The driving force behind new tools and frameworks is technology. Technology has lowered the barriers and made the world more dynamic and rapidly changing than ever before.

Is change accelerating?

Before the industrial revolution there was no such thing as Management, there were no courses you could take, and no business schools. During the 1700’s technology changed the nature of industry and introduced new problems. Business schools were created to solve these new problems.

The question Management tries to solve is “how do I coordinate, how do I optimize, and how do I execute?”

There are more new companies and new inventions with more new people participating in the process than ever before and this is contributing to the environment of dynamism.

This is the golden age for hardware entrepreneurs. The framework has shifted from “how do I coordinate, optimize, and execute on the capture of value?” to one of “how do I create new value?”

Breakthrough Innovation

The big players are getting bigger and the smaller businesses are growing around the opportunities around mass customization. Many big companies are now looking to work with start-ups.

Software is making the world more modular and allows businesses to work with each other rather than just compete.

There are more automobile related start-ups in the last five years than almost any other category.

INSEAD

INSEAD was founded to be the Harvard of Europe. Once you get outside the United States, INSEAD is very well known.

Breakthrough innovation crosses borders. We’re all in this world together and we all have to figure out how to deliver efficient, effective service wherever they our customers are.

Staying On Top Of Change

Nathan found that innovators engage in five fundamental behaviours. The number one behaviour is associating, where they look at other areas of life and applying an idea to another area. There is a lot of innovation that gets stuck in some area that can transform the way business is done in another area.

Observe the world and keep your eyes open. Question and challenge the status quo, notice the world around you and look for problems that can be fixed, experiment and network for ideas.

Digital transformation is not about technology, it’s about the customer. If your business is not about a customer need, it doesn’t matter. Finding how to solve customer problems better is the essence of a good business.

Look for a trojan horse, a customer need that allows your business to learn by doing. Look for technology that can add value to your customers today and start small, you don’t have to master all the technologies available at the same time. Don’t be afraid of diving into the possible solutions that are out there, technology is less scary once you get into it.

Reference: LEADING TRANSFORMATION How to Take Charge of Your Company's Future, Nathan Furr

Nathan’s Takeaway

There are three barriers to human change, the tendency to get stuck in the status quo, stuck in our routine, and our fear. The most powerful and oldest tool we have to create change is stories. Stories have an incredible power to change the way we see the world. What is a possible future story that you can tell yourself? Write down 10 possible futures for yourself five years from now. What would you like to be doing five years from now? What would you hate to be doing? Craft a story that will help you believe what is possible. Think about the future you want to create and work backwards to figure out what concrete steps you need to take to get there. Small transformations add up to big transformations.

Links:

leadingtransformationbook.com

Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

🏠 Want to Join the Elite 10% of Short-Term Rental Hosts?

Dear Future Top Performer,

Let me share something game-changing with you...

There's a simple yet powerful equation that's revolutionizing the STR industry:
L × C × F × M = GP

Right now, you're probably leaving thousands on the table. The truth? 80% of your potential profits are locked behind just 20% of the right actions.

Ready to stop bleeding money and start leading the pack?

Don't let another day pass watching others succeed while you're stuck in t...