She spent years fighting to make financial education a requirement in schools. Some states enforced it, more didn’t.
But that didn’t stop entrepreneur and accountant Sharon Lechter from continuing with the fight.
“We’re not teaching our children about money,” lamented Lechter. “ If we truly want to level the playing field so every child has equal opportunity to succeed, we do that by teaching them about entrepreneurship, about money, about how to be in control of your money so it’s not in control of you.”
Lechter was our guest in the recent episode of GREATER PROPERTY GROUP’S Mastermind Meeting.
She is a multi-hyphenated professional: entrepreneur, philanthropist, bestselling author, international speaker, and mentor. She was appointed to the Advisory Council on Financial Literacy during the terms of President George W. Bush and President Barack Obama.
She is also the co-author of the Rich Dad Poor Dad book, which eventually became a brand on its own. The Rich Dad brand, established by Robert Kiyosaki, now has 14 books in the series. The books teach different individuals about personal finance.
Lechter’s latest book, Exit Rich, aims to guide entrepreneurs in building their business.
During the course of the Mastermind session, the Pay Your Family First CEO shared valuable pieces of wisdom about success and investing.
Her favorite word is asset. Asset is synonymous with freedom.
“The only way for you to become financially free is to have assets that make income that exceed your monthly expenses,” said Lechter. “And when you’re the only asset, you’re going to have to work until your death. If you don’t want to work until you die, make sure you’re making money while you sleep.”
Here are more lessons from our Mastermind Meeting with Lechter, the premier expert in financial literacy:
3:39 – 6:57: Sharon Lechter’s journey from a certified public accountant to co-author of Robert Kiyosaki’s Rich Dad Poor Dad book, which eventually became a series and a brand.
7:44 – 8:43: In order to defy the known aphorism “The rich get richer and the poor get poorer,” adults should teach children about money and how to control it so that it won’t control them.
9:13 – 10:15: Sharon Lechter’s favorite word is asset and she wants to teach people to invest time in creating assets. Real estate is the perfect industry to invest in assets.
10:33 – 13:06: Think and Grow Rich for Women was written to celebrate women and the men who helped women succeed. The book was based on Napoleon Hill’s Think and Grow Rich, which was published in 1937.
13:36 – 16:04: To create maximum impact in sales, people should serve. The greatest sales people are service people. When you serve, you create relationships that can then be leveraged into a bigger impact and a much bigger network of people.
16:45 – 21:12: Sharon Lechter also annotated Napoleon Hill’s Outwitting the Devil, which talks about breaking through the debilitating impact of fear. People need definiteness of purpose and mastery of oneself.
21:42 – 24:17: Real estate investing is always going to be positive as long as people understand the nature of the business. People will always need a place to live.
24:48 – 25:48: When it comes to investing in real estate, one should look at landlord-friendly states with an upward growth and with a government that wants to support people finding homes and not kill them on the tax side of things.
26:03 – 27:33: If there is ever a time to invest in real estate, now is the time. Although, you would have to work harder on the front end of things.
27:59 – 29:07: Advice for young real estate agents: Invest your commission in assets. It’s hard to figure out how to live in between commissions. Invest in assets that will make an income that is more than your monthly expenses.
29:31- 32:50: Mentorship is imperative because they can open doors for you. They probably see a better future for you than you see for yourself.
33:05 – 34:08: The most important thing to focus on is YOU. Start making different choices and don’t stay in your comfort zone.
34:22 – 38:02: Exit Rich is about the 6Ps in building a business: people, product, process, propriety, patrons, and profit.
Didn’t those just encourage you to invest in some assets?
Our weekly Mastermind Meeting is filled with important business and life lessons like those you have just learned from Sharon Lechter.
There will be more of these educational GPG sessions. You should join us regularly by signing up for our weekly Mastermind Meeting every Tuesday here: www.greaterpropertygroup.com/event-calendar.
You may also contact us through the following:
- Email: firstname.lastname@example.org
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- Website: www.greaterpropertygroup.com
Contact Sharon Lechter
- Website: https://sharonlechter.com
- YouTube: https://www.youtube.com/channel/UCHPh-LEbXKSEafWR-7F2RtA
- Instagram: https://www.instagram.com/sharonlechter
- Facebook: https://www.facebook.com/AuthorSharonLechter/
- Linkedin : https://www.linkedin.com/in/sharonlechter
- Twitter : https://twitter.com/sharonlechter
- Exit Rick Book : https://exitrichbook.com
Sharon Lechter GPG Mastermind Transcript
I’m going to give a brief bio on Sharon. Lechter the brief bio because it’s too long. She’s now an absolute legend. She’s an entrepreneur, international speaker, bestselling author, mentor and philanthropist share elector is the premier expert for financial literacy and entrepreneurial success. In 1997.
Sharon Cole, author of the international bestseller, rich dad, poor dad, and has released 14 other books in the rich stats. Over 10 years as the co-founder and CEO, she built the empire into the world’s leading personal finance brand. In 2008, she was asked by the Napoleon hill foundation to help re-energize the powerful teachings of the Polian hill.
Sharon has released three best-selling books in cooperation with the foundation, including. Thinking grows rich three feet from gold outwitting. The devil that’s actually one of my personal favorites. I’ve actually recommended that Sharon many times in these mastermind meetings, it’s a Broncos favor to the devil and thinking grow rich for women.
She is also featured in the movie Think and grow rich, the legacy. Sharon is a highly sought after mentor and has worked with major brands like Disney time Warner. And it’s served to us presidents as an advisor on the topic of financial literacy. Everything about Sharon’s career centers around impacting others to improve their financial IQ, access untapped potential personally, and in business and create their own legacy.
That’s an abbreviated bio Sharon. It’s an absolute honor. Welcome to the greater property group basketball. Well, thank you, David. I’m delighted to be here and I love seeing everybody. I see a lot of similar, familiar names from the club house, and they’re so happy to be here. Thank you so much for having me.
I appreciate you and Nathan appreciate all of you. Wonderful to be with you. So absolute honor. Absolute honor. Share it. So we’ll get into it. You did, I’m going to be in trouble if I don’t ask about the book, right? You wrote this little book that a few people know. A few people, very few people know about right.
With Robert Kiyosaki. I did the math. It was 24 years ago. Right. And then you release the series of books. Yeah. And I’m going to ask you a question here. Do you actually know how many books you are responsible for selling? Well we’ve so I’ve probably sold about my titles. Well, over 34 million, 34 million that’s 34 million bucks.
That’s one for every person alive on earth. That’s crazy. That’s awesome. You’ve sold more books. That’s more than the Bible, right? So crazy shit. No, no, no. I’m okay. Staying I’m S I’m okay. Staying behind the Bible. That’s thinking grow rich is I think number two behind the Bible, but rich dad, poor dad. Yeah, it is up there.
Absolutely. You know, it’s kind of funny. I was out for drinks last night, watching a big wind by the Montreal Canadiens, Sharon, if you follow hockey. But I was at a bar and I was asking somebody who was a random person who was at our table and, you know, I don’t know what he does for work, et cetera.
But I said, I said, listen, have you read rich dad, poor dad. And he looked at me and he said, yeah, of course, like I was in. Right. So that’s serious. That’s serious, really has changed people’s lives. And the story of how you actually got involved with Robert Kiyosaki that eventually led to the writing of that book is really interesting.
Do you mind telling us? Sure, absolutely. And thank you so much for having me. I absolutely adore looking at all these incredible faces on screen. So thank you. Well, I started my career as a CPA and kind of shunned the entrepreneurial world that I grew up in. My parents thought that I should be a professional and about the ripe old age of 25 realized that I was working way too many hours for someone else.
And that’s what. realize my parents were a lot smarter. So I started my entrepreneurial career, started a woman’s magazine, started the talking children’s book industry. If you remember these little books with sound strips down the side started back in 1987, I learned a ton of. Power of association.
We had this new technology that we couldn’t figure out how to get parents to trust us. So we aligned with little companies like Disney Warner brothers, Sesame street, Marvel comics, so in 91 and moved to Arizona, our oldest son. College and September came home in December in credit card debt. We were pretty upset.
We thought we taught him about money, but he got to college and there were tables with free pizza, free money, free t-shirts and free money. And he had a really good first semester in college. we wouldn’t bail him out of debt in December. It took them a long time to get a deputy as passionate as I am about financial literacy, but that was December of 92.
When I really dedicated the rest of my career to financial education, financial literacy, and entrepreneurial education. Best forward a few years, I’d been working with the school systems, hence the white hair. If you’ve ever worked with school systems, trying to get financial education into schools. And I got a phone call from my husband one day.
Isn’t a well-known intellectual property attorney. And he said, I met this guy today, came into my office with flip-flops and a Hawaiian shirt and this idea for a board game and his name is Robert Kiyosaki. And, I met Robert at the very first beta test for the game cashflow. How many of you are familiar with the game cash flow Macy and it’s perfect.
And I was the only one that got out of the rat race and I volunteered until Robert. From getting that game commercialized. Because I had all the connections from the talking book industry. And during that process, he told me he wanted to charge $200 for it. And I said, well, that’s a little pricey for a board game in 1996.
How about less? Right. You know, maybe you should write a brochure with your philosophy. That can help people understand what it is, and that might encourage them to invest the $200. And that’s when he asked me to be his partner and that little brochure that we wrote was this little book called rich dad, poor dad.
We never knew it was going to take off a life of its own. We thought our brand was cash flow. The world said, oh no, no, no. Your brand is rich dad. And so then we said, okay, well, we’ll do three books. We’ll do a trilogy. Rich dad, poor dad, cashflow quadrant, rich dad’s guide to investing. Oh, no, they wanted more.
So over the 10 years we were partners, we wrote 15 books together, expanded into, well over 110 countries over 51 languages. And it kind of took the world by storm and China. They called us the purple storm. And so it was the right message at the right time. It truly was a viral marketing success before the internet, but that’s how it all came about.
That’s amazing. That’s such a cool story. I just wanted you to break that down because it is interesting for people that haven’t heard it directly from you. So that’s good. I don’t know if you know this Sharon, but the overarching theme of reaching that rich dad, poor dad is how to use money as a tool for wealth, right.
And development. Yeah. And there’s, there’s, there’s six specific lessons in the book, right? The rich don’t work for money. mind your own business, the history of taxes, power corporations, rich invent money work to learn. I don’t work for money. Also why teach financial literacy. So what’s your perspective?
And I want to kind of focus on that for just one minute, and then we’ll get into the meat of the discussion here, but what’s your perspective on the education system? Because I’ve heard you talk about this port doesn’t really teach pertinent information regarding finance and wealth building. Does it. No.
I mean, you’ve heard the phrase, the rich get richer and the poor get poorer. And that’s because that’s where we learn about money. This has been, I’m still as passionate today as I was in December of 92. having the honor of being on the presence advisory council with Obama and Bush, we did get the credit.
Passed in 2009, that prohibits credit card companies from soliciting college students on campus. Can’t take credit for the bill, but I can take credit for being a squeaky wheel, but there are still only seven states that require a separate personal finance class for high school graduation. 12 more requires some personal finance training, but it can be another class.
And it’s just not enough. It’s criminal and Canada, same thing. So all over the world, we’re not teaching our children about money and as something that if we truly want to level the playing field. So every child has equal opportunity to succeed. We do that by teaching them about entrepreneurship, about money, about how to be in control of your money.
So it’s not in control of. Exactly actually, that’s the next thing I wanted to ask you about. So you became a leading educator, and you were appointed to the advisory council for financial literacy under Bush, and then Obama to presidencies, which is really interesting. and it was an important project because, you know, you kind of give us an overview of that, but I did hear you say that at the end of the day, you’re either a master of your money or your money as a master of you.
So you need to pick which one. Right. Can you unpack that just a little bit as it relates to what you do? Yeah, there’s not much in between. for many, many years always said you’re either a master of your money or a slave to it. And with all of the PC in the last year and a half, I got pushed back on using the word slave.
So I don’t use that anymore. I don’t even use the word master anymore. I say you’re either in control of your money or it’s in control of you. And at the end of the day, it’s hard to go to sleep at night if you’re worried about your car being repossessed. And unfortunately we’re taught to work for money.
We’re talking. And our time for money. And that means we’re putting our future in the hands of an employer or the government. And that means we are not in control of our lives. And so it’s really important. I’ve my favorite word on earth. David is assets because true financial freedom comes from assets.
So I want people instead of spending their time for money, I want them to invest their time. And buying buildings and creating assets. And all of you are in the absolute perfect industry and real estate, because one of the greatest assets we have is income producing real estate. Yeah. And I’m going to get to that a little bit more in detail here, but I do want to ask about one more book before we move on, which is, you know, you were asked to collaborate with the Napoleon hill foundation in particular thinking about growing rich for women.
Why did you write that book? And what was the catalyst? Well, the very first line in the book is why books are for women because my entire career, I just, I resisted doing something specifically for women because I feel the steps of success, the same for men and women. And we just tend to approach numbers differently.
And, back after I released outwitting, the devil, the foundation said, I think maybe we should do a book for women. At that time, I was actually pretty frustrated with the number of women that were just complaining and criticizing the men that stood in their way. And Fruita prevented them from succeeding.
And if any of you are familiar with the law of attraction, when you complain and criticize what you attract. And so I wanted to change the dialogue. I wanted to say, stop complaining and criticizing and let’s celebrate the progress. Women have made let’s celebrate the men who have assisted us along the way. Is there more work to be done?
Yes. Is there more progress to be made? Yes. Really celebrate one another and look at the world, from a standpoint of where we’ve been from and where we are and let’s celebrate that. And then the other thing was the women were just beating themselves up about work-life balance and that kind of.
That was irritating me as well, because I don’t believe in the word balance except in the dance or yoga studio, because I think we have one big life. And so I added that additional chapter one big life when we all have our financial or spiritual or family or community. And it’s something that, every day would be, if you didn’t, aren’t happy with what you did with your kid yesterday, make a diverse, different decision too.
And so I wrote it because when thinking grow rich was released in 1937, it was a 25 year project by Napoleon hill. And he had Andrew Carnegie introduced him to the 500 richest men in the world because women weren’t in business back then. And so the book thinks and grows rich. Pertinent today as it was when it was released in 1937, but because there were no women in it, I thought let’s look at these same principles through the eyes of successful women.
So I honor Napoleon Hill’s messaging. We have the same chapter outline as the original book and each chapter I interview women about how they applied that particular. item, whether it be faith or definiteness of purpose, burning desire, how they apply that in their own life to create success. And I look and share how I’ve applied it in my life.
And then I have over 300 women and quotes and stories that are in the book to really add to the original thinking, grow rich. Yeah. What an interesting project, you know, especially. One of the greatest of all time, Napoleon hill foundation, then he moved on to the play big movement, right? That brand, the play big movement, which highlighted the four topics play big, right?
Number two, be a number one in your field. Number three, live your legacy every day. And then the fourth point here, which is to create maximum impact. Right? How does that apply to, to, okay. Let’s say a sales professional, or a group of real estate agents may create maximum impact. What do you think? Okay. So that’s a several part question.
So, I’ll start with the salespeople side of it. You know, the greatest salespeople are service people, not salespeople. you either sell or you surf. And particularly if we talk about real estate, you can be a salesperson and sell a house. And. Walk away and you never hear from them again, or you can really serve your client and they’re going to refer you to others.
They’re going to call you when they want to buy an investment property, they are going to call you when they decide they want to get a bigger house because you’ve created a relationship. So when you serve, you create a relationship when you sell as a transaction. And so to play big, we talk about creating maximum impact.
How can you leverage everything you do to create a bigger impact on those that you work with? And a bigger network of people. Now, I launched a big moment because as I shared quickly in my story, I’ve always played big. And then I’m in 2012. I lost my youngest son. And so I went from playing big and a world and to hiding and being in, to living life in neutral being numb.
And I think a lot of people, some of you on the screen have had things to stop doing your tracks. And all of a sudden there is a death, a divorce, a financial setback and illness, and it’s like, oh gosh, why even bother getting out of bed? And. Because that happened to me, it took me several years. I even thought about retiring.
I got a lot of pushback from family and friends. I think I even heard in my ear, my son saying, get over it, mom, there’s more for you to do so I made the decision to play big again. And what happened was those opportunities were always there for me, but because I was grieving because I was fearful, I was looking down.
I didn’t see. So I wanted to encourage people to look up in faith and to really play that bigger game because whatever you’ve been through, you’re still here for a reason and you survived it and what you’ve done, you can use to help others going through the same thing. And so when I made that decision to get back into the game and play big again, I said, I don’t want to do it alone.
So I launched a big movement. It’s a Facebook group that is free to join. To share with things that I’m doing. And it was a magic when you, once you put your mind into the positive momentum of going forward and serving more people, those opportunities show up fantastic, which is a good segue into the next point I wanted to make here.
It’s kind of a personal development question, but it’s specifically centered around outwitting, the devil and that. You know, what are you telling yourself, you know, winning the devil, you talk about, you know, the two voices, right. You know, almost like the good angel on the one shoulder and the evil angel on the other right.
And negative self-talk: how do you get rid and lift? You get rid of that, lift yourself up. You know, one of the things that winning the devil talks about, and again, this is one of my personal favorite books of all time is, is getting rid of that negative fear through definiteness of purpose, right?
Being focused on what you want. can you, can you talk about that concept just for a second? Sure. The book is talking about it’s called outwitting, the devil. and if you can read it, I think it might be backwards on the screen, but just a point of history. So people understand where, what we’re talking about when Napoleon hill.
And converged in 1937, he was frustrated because he said here, I’m giving you this thesis of success, this doctoral thesis, the steps to create great success in your life. And even though people read it, they won’t do it. And what’s it? That’s holding them back. And so we added that last chapter and thinker it’s called the six ghosts of fear, but he still felt frustrated about it.
And so he sat down and 1938 and then just a few short months today, he would use the word downloaded, but back then, obviously that word didn’t exist and he wrote outwitting the devil. And it was about how fear paralyzes us. Somehow fear keeps us from creating and really achieving success. That’s waiting for us that we deserve.
And the title scared his wife to death. She worked for the Presbyterian college and she was afraid she’d be fired. And so in the book, he says, you can believe I’m talking to the real double or an imaginary double. Will you derive any benefit from what I show? And he talks about the debilitating impact of fear.
And there’s lots of different types of fear. He talks about fear of death, fear of illness, fear of poverty, fear of criticism, which I think is pervasive in our society today and how we can break through that. He talks about drifting and all of, you know, somebody is going to, somebody’s going to come to mind right now when I tell you a drifter, somebody who.
Is listless. They don’t know what they’re doing. They go with the flow, they go, whatever. They don’t know what they want out of life. All right. They’re lost. And he talks about only 2% of the population are non drifters, which means they have control over their own mind. They know what they want. And he talks about how to break through those bonds of fear.
He talks about seven steps, but the first one is definiteness of purpose. If you know what you want to achieve in life. If you know why you’re here, it keeps you focused. And the devil says he doesn’t mess with you. And so it’s really, it’s talking about that positive mental attitude, but also what is it you want to achieve the greatest successful businesses solve a problem or serve a need.
And so if you remind yourself what problem you’re solving or what need you serve, you can continue moving forward. But he couples out with mastery over self, self discipline, not the kind of a negative word, but very important. And that self-discipline is control over your mind. And then learning from adversity.
Way too many people make a mistake and they feel that’s the definition that they are a failure. No, it just happened to be a mistake or a failure. Isn’t an occurrence, not a definition. And so you just need to look at it and learn from it and move forward. And then a big one and you guys are already experienced this.
Cause you’re here today in control of your environment. Who are you allowing to influence you? Are you around people who pull you back are people who push you forward. And that environment is so critical, particularly with what’s happened in the world in the last year and a half, understanding doesn’t let that negativity.
And I launched something called ATM daily, ATM deposit, abundance tips, and mentorship to just try and counter counteract all that negativity in the world. And then, control over your time. Are you spending your time or are you investing your time? And during this whole pandemic, I would just cringe when I would hear people say, oh, I’m binge watching Netflix or I’m changing from my night pajamas to my day pajamas.
And yes. Okay. We don’t have to worry too much about waist down. I got that. But, it’s really important for us to know that we’ve had this time to reevaluate and reset and redetermine what we want in the future. Yeah. If you’re a sailor and you want to go to Catalina island, if the wind shifts you don’t change where you want to go, you just adjust your sails.
And a lot of people have been using the word pivot in the last year and a half. And I go, no, I don’t like the word pivot. If you know what your definition and purpose is, it doesn’t change. But things around the world have changed. And so you adjust, adapt and refire to get to your definite purpose. Wow. there was a lot in there.
I hope everybody’s taking notes and paying close attention because that was unbelievable. There was a lot in there, Sharon. I K we, with the time we have left, we’re going to move to real estate now. Real estate investing. Your wheelhouse, you did talk about how assets is your favorite word.
but I’ve also heard you talk about, you know, for agents on the call today, teams, you know, success in real estate investing is on the buyer, not the salad. We’ve said that before. Can you explain it to you? Well, certainly, I mean, my husband and I’ve been real estate investors for as long as I know. I mean, my father, I had just scrubbed out toilets between tenants when I was 10.
So I’ve been involved in real estate all my life and, understanding the power of real estate investing and understanding that yes, property valuations go up and down. But if you have a property that is cash flow positive and maybe you bought it. A hundred thousand and I went up to 250,000. All of a sudden, it’s back down to 150,000 and you feel like you’ve lost the money.
As long as you’re still making positive cashflow, you don’t lose money until you sell it. And so it’s really important to understand the cash flow movement. Now what happened in 2008 is people got a little greedy. They started overleveraging and they got themselves into crazy stupid debt. Yes. I just said the word stupid, but it was, you know, crazy.
And that it was not understanding that when you buy, you buy appropriately, not crazily. And then you have a property where you truly are having cash flow positive. That’s how many of those can you have? Right. As many as you can get. And so that’s the whole concept of when you buy a property, you knew the numbers, you see that it’s going to create a cashflow positive stream for you and the appreciation you get a hundred percent of that as a bonus, you get a hundred percent of the tax benefits, but you’re leveraged that because the banks helping you with the money.
Yeah. and you also talked about leverage, right? Why real estate, residents real estate is the most recession proof investment. There is. It is actually, unless you’re buying, you know, oceanfront type properties that may have a loss of tenants because of the economy. But if you’re looking at three twos are residential apartments where there are property C properties, people will always have to have somewhere like.
And so those are things that are basically recession-proof. And again, if you have cash flow positive properties, that’s, you know, my husband and I owned a bunch of apartments and we sold them in 2007. Thank you, God. and so we were perfect and we’re now investing through syndications, back into multifamily properties where other properties we’re looking at as well, outside residential, but that’s something that.
residential. Everybody has to have somewhere to live, so, yeah. Yeah. Sharon’s on the grind. I don’t know if you notice that, but she’s, she’s hustling still. Okay. At this point, I actually want to include Len in the conversation Len Wong. Now Lynn is one of the most successful real estate agents in Canadian history.
I’m going to put it up there. He’s the goat, right? One of the most successful teams has sold billions of dollars in real estate. Len, do you have a question? Yeah, Sharon, I just want to know what are your thoughts on investing in this environment and what areas would you look at? Because as you know, things have changed so much in the last 18 years.
Well, thank you, Lynn. There’s a couple areas where I’m investing and I’m at this point in my career, we are partners in several very large syndications and community development properties. We’re building a whole new city south of Tucson, Arizona. So those that we were putting into the future of where we’re headed.
So those are things, you know, seven to 10 years out, but we’re also looking at certain industrial areas right now. And as I said, multifamily housing, I just invested with my friend Tarik. But we, at the end of the day, you got to look at where you’re investing. Is it a landlord friendly state name?
Somebody might strike me down, but that’s important to me. you know, am I looking for a place that has upward growth? And, and that has a government that wants to support people that are there to support, people finding homes and, and, and not kill you on the tech side of things. Okay. That’s great.
You know, with COVID, as you know, the world is changing, you know, based on your experience and, you know, things, cycles, you know, what do you see the trends and events happening in that? 12 to 24 months with, you know, with the vaccines and things and things are getting back to probably never be the same, but what are your, what are your thoughts?
And when you see with your. Well in my entire adult career, which I’ve been around a long time, as you can tell. So, I’ve never had the combination of right now. Of course, there’s high demand, low supply when it comes to investing in, in many areas, but we’ve never had historically low interest rates.
So if there’s ever been a time to get into real estate, now is the time. Yes, you may have to work a little harder on the front end, but it’s an opportunity to do that. You know, my husband and I have done a lot of commercial real estate. We’ve done a lot of land development, but the bread and butter for us is residential real estate and multifamily because we do believe that that’s something that is just a stable environment.
I’m not investing in student housing right now, cause I’m not quite sure what’s going to happen to our universities. So I’m pulling out of that arena. I think self storage is still a strong industry. I’m not doing much commercial investing right now. That’s my own person. Issues right now. I just want to see how things pan out.
But I think it’s important for people to look at their local communities as well. But I think at this point I’m very comfortable. Most of our investing is going through syndication with partners that we’ve known. And like we know, like, and trust for 10, 15 years where they are the boots on the ground, they’re the ones changing the laws during the development.
And so, we’re investing. A lot of our dollars go into those syndications. Hey, great questions, Len the, okay. So the time we have left, I want to talk about growing the individual agents business. and then I want to talk about exit rich if we could, the new project we book. So what can you say to the young sales professional, maybe a real estate agent that might help them reach their potential.
What do you think? What, what should they be thinking about with regards to success? Great question, David. Thank you. And so as a real estate agent, no matter who you’re with, who you’re working with. You’re always chasing the commission. And so you get a fantastic commission this month. Well, you might not get the next one for two or three months.
And so you have to continue to figure out how to live between the big commissions. And so I counsel you to think about how to reinvest those commissions into a stable, real estate investment portfolio that will continue giving you those mailbox monies, because you see the only way for you to be financially free.
Is to have assets that generate income that exceeds your monthly expenses. And when you’re the only asset. You’re going to have to work until you’re dead, you know, and there’s a phrase I’m either, if you don’t want to work until you die, make sure you’re making money while you sleep and you make money while you sleep with assets.
And so it’s really important as a beginning agent, and you have resources, you have access to information on properties that become available. Don’t just look for your clients, look for yourself. How can you start building your own portfolio so that you get that passive income? Yeah. Yeah. That’s why we created our dividend program at the GPG.
Right. Like, you know, same thing, right? mailbox money, like you, you, you, you mentioned there. So that’s one of the things we focused on as well is creating that, you know, again, X we’re going to get to an exit plan for our agents too. So, can you touch on the importance of mentorship, coaching, and goal setting for a young professional.
It’s imperative, you know, in my book, three feet from gold, which was the first book that I did with the Napoleon hill foundation. I talk about the personal success equation, David, and your passion and your talent. Right. And that’s what all of us combined that we think we have to do on our own. But true success is through the power of association.
And you guys already have that nailed with the people on the screen. You’ve got tremendous association, you know, David is providing this experience and this atmosphere for you to have that strength and power of association, having people that can support you, having people on your team who are strong, where you are weak, but also having mentors, mentors, open doors for you.
Around the pitfalls. They probably see a better future for you than you see for yourself. And so allow them to help you realize that and create that in your own life. And then times for taking action. All right, you guys already took action by being part of this group, but continuing to say, what can I do to move myself forward to achieve the success that I deserve?
And then the last element is plus effort. Having faith in yourself, having faith in what you’re doing and, and that is needed and necessary. And so many times David, when I start working with people, in fact, almost every time, the areas they need the most help men as power of association and faith that self-confidence, and they go hand in hand because when you have the right people around you, you have the right mentor, your self-confidence.
When you have a bad day, they won’t let you stay there. They’re bringing you back up. And so you can go to personal success equation.com. I have a free guide that you can use to really analyze where you are in each of those categories. I use it in every talk I give, I use it with every client. I have to go deep down into them, into their life.
What is your passion? Your passion may not be your business. But your business can feel your passion. I have a good friend who just sold his business a year ago. He’s a billionaire. His business was cardboard boxes. That was not as passion, but as planes and his houses and hunting around the world as his passion.
So your passion and your talent. So for me, my passion came from anger. It was mad that we weren’t teaching kids about money in school. My talent. I’m a CPH with 35 years as a CPA and that many years in publishing. So I can combine those. And I could probably do pretty well just doing that, but it’s not fun.
Business is a team sport. So to really have that maximum impact is to define the right associations, like Disney, like Warner books, like you guys have found each other. Taking the action and then having faith and confidence in what you’re doing and you’ll get to where you’re supposed to be, but not if you’re not looking for help.
And the other aspect about being a mentor, David, is that a lot of people are afraid to ask for help because they think they don’t want to admit that they are their NABI, that they need it. And I go, just adjust your mindset instead of looking at it as asking for help. Say it look at it as a sign of respect that you’re acknowledging that this individual has been where you want to go.
This individual has wisdom that can support you in your journey. So instead of feeling, maybe show it as a sign of respect. I love that. Fantastic breakdown. final question. Before we ask you about exit riches, what’s the most important thing? Do you think that sales professionals, entrepreneurs need to focus on going forward 2021?
The most important thing you need to focus on is you, you know, all of us, we, you were made perfect in God’s eyes, you were made unique and nobody can be you, but you, and so many times we’re trying to be someone else we’re trying to live up to somebody else’s expectation. And all of us are where we are today because of the choices we made before.
And if you want something different, something better in your life, you just simply need to make, start making different choices and don’t stay in your comfort zone. I’ll leave you with the question that, you know, on this particular topic, I challenge people all the time. When was the last time you did something for the first time?
When was the last time you did something for the first time, and if it takes you a while to think about it, then I challenge you, go out and do something new today. Great breakdown. I love what to focus on in 2021 and beyond. Okay. Now, exit rich. Tell us about exit rich. What’s that all about? I see the book there behind you.
Is that the very first copy because it’s not available. It is actually available electronically. If you guys go to the. Exit rich book.com forward slash buy BUY. I’ll send you the digital copy and then we’ll send you the hard copy June 22nd as the official release date. But we’d love it because if you do it now, it’s cheaper.
It’s $24 and Amazon is 27. Plus you get all kinds of bonuses. So, and if you buy 10, I’m sending you a gift certificate to my ranch cherry Creek lodge here in Arizona. But, this is my 26th. And I wrote it because too many people own a job, not a business, they haven’t built their business so that, you know, they might have a successful business, but they haven’t built it so that it’s scalable or sustainable.
Let alone sellable. And so again, be creating that asset, that economic engine, understanding the aspects of how you position yourself, how you identify and talk about the six pieces, your people, what we just talked about. Who’s on your team or people on your team. We are strong where you are weak, right?
Men. Understanding your product, what is it that you’re offering? And is there a way for you to take it and offer something else and to have multiple streams of income, your processes, your business systems, your organization offers systems for everybody here to learn and to grow, and you’ve got the equity piece.
And so understanding the processes within your business, you cannot scale without business systems. And then proprietary. What’s intellectual property? What’s your unique, competitive advantage? Mo the vast majority of the value of business today is tangible. And so people need to take time to identify what those intangible assets are, identify them, protect them and leverage them.
And then your patrons. And I know on the screen right now, I can see a lot of you have huge social media followings, and that’s fantastic clubhouse, Instagram, Facebook, LinkedIn, but you don’t own them. And so those are great lead generators, but nurture them home, invite them home to your database. Many, many companies sell simply for their databases.
And I see a lot of young people today that are living on social media. And they’re not getting them into their database. And I think it’s going to come back to haunt them. And then of course the little six P is profit. So I really re breakdown each one of those elements for people to be able to build the most successful, possible company that can be sustainable and scalable and saleable.
So it’s not just for people who want to sell their business. It’s for people who want to have a strong, successful business, people who want to have a successful business to leave to their children. And sometimes even more importantly, if you are looking to invest in someone else’s business as a great tool, to see what questions you should be asking so that, you know, your money is going into something that is built to last.
And so it’s again, exit rich book.com forward slash buy, come directly to us and we will make sure you get the electronic copy right away. So you don’t have to wait. I like to do it. But the publishing industry, and then we’ll send you the hard copy in June, and I would love to have your support. And as I said, 10 copies, you’ll be able to come to cherry Creek lodge.com and give, send you a gift certificate.
So thanks, David. I appreciate you letting me share that. A hundred percent. So exit rich book.com/buy. That’s where we’ll go. We’ll make sure we put it in the, in the notes there and on the mastermind page. So, fantastic. Thank you so much, Sharon. Really appreciate your time today.