What you need to know! Top Take Aways from a $50k Mastermind

Dan Austin: [0:02] Welcome to the Collecting Keys Friday Focus. Hey there. Welcome back to another episode of the Collecting Keys Friday Focus. I, Dan Austin, will be your host today, and I'm pretty pumped for today's topic. I want to continue the conversation that Mike and I had in our Wednesday episode of the Mike and Dan Show, where we did a high level recap of our recent experience at a mastermind with our business coach, Steve Rozenberg. You can find him on Instagram at it's at RosenbergSteve, his name backwards. Anyhow, you also should remember his name, because Mike and I have talked about it several times, but he was on our episode, or on our show not too long ago, which is why, and when we decided to hire him, actually, just literally right after we recorded that episode with him, we had never talked to him before, but we liked him, we did some due diligence on him, and decided to hire him. Anyways, he puts on a four day, what he calls the Mansion Mastermind, so you go and rent out a big house, we were in Scottsdale, and we had 12 of his other coaching clients there, so super intimate setting. He brought in some awesome speakers, we talked a lot about the tactical business stuff, but also some mindset things on like how you need to wrap your head around things, and the mindset you need to be in to actually tackle some of these goals. It was a great great group mastermind, and so I, you know, if you ever have any questions about stuff like that, hit me up, and I'm happy to talk to you about those things, and give you my feedback, and and what I think.

Dan Austin: [1:24] But anyhow, I want to take a deeper dive into a couple of the topics that we touched on in the last episode, and maybe add some some additional information. The first thing I wanna talk about is the parts of a business. There's three parts to a business. The first is monetization. We're all good at monetizing things, right? Even if you're working at w two job, you're monetizing your time, which isn't the best thing, but you know how to make money basically. Right? You can go and do that. That's that's something that you can be proud of that you're doing. But to get to the final part, number three, which is scale, you have to have number two, which is systematization of your business. If you don't systematize your business, you can't scale it, because it means that you're going to have to be working in the business all the time. That's where Mike and I were earlier this year, before we hired Steve, and started getting our head wrapped around what systems mean, and we were just There's just not enough time in the day to scale to the goals you wanna get to, if you have big aspirational goals, which many of us do, and that's why you're listening to this. And really, you wanna be able to monetize your business without being in it all the time, because that was That's why you're probably listening to the show, that's why we all started looking at real estate and entrepreneurship, is that we wanted to get away from the day to day trading hours for time. And believe it or not, sometimes if you're an entrepreneur, or if you don't have the right systems, you're still just trading hours for money. Okay?

Dan Austin: [2:43] That's what you're doing, and it's not necessarily where you wanna be, and I hear you. We all come from that background typically, because that's what's ingrained in us in our school systems, and our government systems, and all that crap. But anyways, those three parts are important, and Steve does a great job explaining this, and I'm gonna steal his example of how he knows, Steve's an airline pilot, so that's his background in training, which is a highly systematized business model. And you can get on an airplane in Seattle, you'd show up with some luggage, you get on the airplane, you get in the steel tube, and you fly over to say, I don't know, Europe somewhere, pick pick your favorite destination, Germany, Italy, France, wherever you're going, and somehow when you get off that steel tube, your bag's there, you made it there alive, you made it there in a reasonable amount of time, of course, there's errors in the system, but generally speaking, that's what happens. And if you think about this, the pilot is not talking to the baggage claim person, The baggage claim person is not talking to the refuelers, who aren't talking to the mechanics, who aren't talking to the ticketing agents.

Dan Austin: [3:43] There's all of these separate systems from when you book that ticket to when you land that are working simultaneously, working together, and if something fails, you don't get there, or something catastrophic happens, right? So think about that when you're looking at your business, even if you're a solopreneur, what systems can you build to make it so that a human doesn't have to talk to another human to complete this system, or complete the process or task. That to me was like that moment, where you really think about, I need to be so detailed, that when I hand this off to a person, they don't have to just have institutional knowledge to learn how to do the task. They don't have to call me five times to figure it out and learn it, they can learn that task. So when we build our systems, we're building kind of a high level, lucid chart, showing you from step one to step 10, or a completion, how to do it, and then each of those steps has an SOP, a standard operating procedure, that also is linked to Loom videos, and is linked to policy documents. And so, when you're in that step, you have everything you need to complete that step, and then move on to the next step. And the idea being, steps one through 10 gets that process complete without me, or Mike, or somebody else involved in that. Or if that another person is involved, there's a hand off with those people, that's a proper hand off that also has key performance indicators, KPIs around that hand off, to ensure we are able to hold people accountable to high performance, or just to performance in general on those types of tasks. So anyhow, I'll get off my soapbox on systematization, I do think is very valuable, and it's something that Mike and I are really super excited about within our business, and that we're really focusing on. But the other topic I wanted to talk about was a quote that I mentioned on the last episode, which was, success rewards speed.

Dan Austin: [5:28] And I wanna talk about this because it's not quite as apparent to people, the average person say that sometimes it's best to write a check to go faster. You know, we wanna be cheap, we wanna be frugal, real estate investors, a lot of that as we were brought up, that's what was ingrained into us, is like, hey, if you control your expenses, you can have your passive income take care of all of your expenses, and now you're free to do what you want. Totally get it, love it, great, but sometimes, to get somewhere, you you should write a check, and be willing to write a check to get there faster. With Steve, the stuff that he's teaching us, other groups that Mike and I have joined, we could totally learn that and get there. YouTube, free, you can do it, but the time to get there, it's it's just it's overwhelming, and at some point, when you have aspirations, the sooner you get there, the better. And so be willing, I guess my point here is write the check to go there faster. Now do your due diligence, don't just go and look at the first sponsored you see from some so called guru out there on Instagram or Facebook, and sign up and pay them whatever they're requesting. Right? I don't think you should do that, because there are a lot of bad seeds out there. So do your due diligence, look at something that interests you, think about how would this help you get to from point a to point b.

Dan Austin: [6:45] If it doesn't quite show you that you it can get you there faster, that would be your first red flag. Then second red flag would be if you can't get any good referrals from that person, if you talk to that person that's going to, that you're going to be paying to do something, they should be able to give you referrals on clients, or five star reviews, or whatever it is that they have a track, that shows their track record. You know, Mike and I, when we hired Steve, we just posted in our GoBundance group, which we tend to trust most people's opinions, and there's an overwhelming amount of people that knew him, they knew him, they liked him, they trusted him, and that was enough for us, especially with some of the names that that were brought up that are his friends, and know him, we just really believed in that, so we did our due diligence there, so I highly recommend that, but just keep in mind, success, rewards, speed, just that's a mantra, keep it going in your head, as you're deciding what to do next in your business, and how to do things, because sometimes, we hear this term analysis paralysis, you can get caught up in that. Don't get paralyzed by analyzing a situation, be willing to write the check to get to the next level. Okay. Now, before I end here, I wanna talk about one more topic that I found super valuable, and I wrote down this quote, which is, what I focus on, I get more of. This is a mindset thing clearly, but think about it in a couple different contexts. You hear network equals net worth, total cliche, very true though.

Dan Austin: [8:08] So what I what I focus on, I get more of. So if you put yourself, if you surround yourself with people that are going to help you get what you want, maybe it's other real estate investors, and you want to be a real estate investor, it's wholesalers, it's flippers, it's somebody that maybe you wanna syndicate apartments. I don't know, whatever's your flavor, you've put yourself around people that are doing that, and always remember this, you know, you can control who you surround yourself with, and remember the people that you're surrounding yourself with, are they a liability, or are they an asset to you? Some people, you know, you need to like them, or love them from a distance, and that is a 100% okay, but you need to continuously be able to bring in people into your network, or join into other networks, so that you can get more of what you want, and what you wanna get, and what you're focusing on are all We're all on the same wavelength here, right? Also think about this, from a mindset standpoint, you control what you consume. So if you're consuming things that you don't like, or that puts you in a bad state of mind, stop consuming you, stop consuming them. Don't waste your time worrying about things you can't control. In other words, if you read the news and it pisses you off, stop reading the news. Right? Put something else in front of you.

Dan Austin: [9:18] There's a lot of people that have their morning routines with I am statements, and affirmations, and all that sort of stuff. They do that because they wanna get their head straight, they wanna get their mind positive in it for the rest of their day. So they start in the morning, they do their affirmations, they do their I am statements, whatever your routine is. Some people meditate, some people work out in the morning, that's all the purpose of all that is to get your mind right, because again, what you focus on, you get more of. And last thing I'll just say on this is, one of the speakers mentioned, know, it's easy to feel like a loser when you're not keeping score, so be present, count the wins. I can guarantee you there's wins out there that can help put you in a positive mindset. I struggle with counting wins, because I just always look to the next thing right away, once I accomplish something and forget that that was a win. So just from a mindset standpoint, count those wins. If you want me to connect you with Steve, hit me up on Instagram, investor man dan. Also, can email me, dan at collectingkeys. You know, he's not he's not gonna sell you on anything, but he he's always open to connecting with people, and maybe he can talk to you. I'll be honest, he's not gonna hard sell you, because, you know, he's he's pretty selective in his clients, and who he brings in, but he does have other opportunities, he flies all over the country, like I said, he's an airline pilot, and does these two day workshops, he has all sorts of things he does, he's he is honestly a super helpful person, he has a very wide network, you know, he helped me find a property manager before he was even our coach, know, he just made some connections, he scaled the property management business, so he knew what he was doing, he made some connections in the industry, I for the life of me couldn't find a good PM, boom, right away, like literally within a day, he found the best PM here in Spokane. And so, definitely always willing to help people out. So please reach out if you if you want me to connect you, I can I can give you a direct connection to Steve? Other than that, if you are interested in the Instant Investor program, go to collectingkeyspodcast.com, the Instant Investor program.

Dan Austin: [11:12] We have multiple tiers in there, all the way up to to our pro and partner clients, where we actually partner with people to go and stand up a business in their market. We run the sales and the whole system for every marketing, all of that. We run the whole system for people, you get all the upside. Or if you wanna just join our instant investor program, we teach you how to do it. So collectingkeyspodcast.com. Click on the little blue button, or actually kind of a big blue button at the top corner that is become an Instant Investor. Other than that, have a great weekend, and we'll see y'all next week. Thanks for listening to this collecting keys Friday focus. Be sure to subscribe wherever you listen to your podcasts.