In this episode of The Hyperfast Agent Podcast, host Dan Lesniak speaks with Henry Daas. Henry has spent over 30 years as an entrepreneur, the last 10 as a coach to both million-dollar and startup clients, and recently wrote a book, FQ Financial Intelligence. With his plethora of experience, Henry has some great advice for new and experienced entrepreneurs alike!
Episode Highlights:
- Henry has spent the last decade as a coach for million-dollar and startup clients.
- Businesses who already have a million-dollar-plus business usually involve multiple employees.
- Startups don’t know what they don’t know and need to focus on the critical path.
- Less than 1% of real estate agents even hit $250K every year.
- Entrepreneurs tend to keep doing the work when they should transition to the person who pulls the levers.
- At the end of the day, you’re still going to run out of time, so you need to hire people.
- A short-term investment of time and money to bring someone in and train them up will pay off in the long-term.
- Compare the risks of standing still vs. making a move.
- The amount of opportunities that are available to you depends on what class of houses you choose to work with.
- One problem with entrepreneurs is that they don’t know what the end game is.
- Many entrepreneurs don’t have the mindset that they are actually entrepreneurs.
- Successful entrepreneurs are fully aware that every single day brings something new, and are prepared for that.
- It typically takes three months for clients to know if Henry is the right coach for them.
- Human beings love doing things the same way because they are addicted to comfort.
- Playing big does not mean taking irrational risks with your business.
- Henry’s book was first written as a course, then he decided to turn it into a book.
- Early-life experiences mold people’s decision-making skills for the rest of their lives.
- The world doesn’t care if you lose your job or income; the bills are going to keep coming every month.
- Brokers have no risk until they invest their own money and time in the deal.
- Gathering as much information as possible will give you the skills and confidence to be successful.
- Surround yourself with the right people that will help push you to the next level.
- Henry paid the price for taking a large risk when his business partner committed suicide.
- People ignore the risk because they can’t take their eyes off of the return.
- Henry likes to spend his free time on the golf course.
3 Key Points:
- Entrepreneurs who want to break through a financial ceiling must scale up and bring in the right people to help them grow their business.
- Knowing the destination is essential for entrepreneurs because then they can break down the necessary steps to get there.
- It is vitally important to surround yourself with the right people. You may think you know everything but the absolute fact is that no one does.
Tweetable Quotes:
- “Sometimes, you’ve got to cut ties with people who have hit that ceiling.” - Henry Daas
- “You have to make a transition from being a do-er or a worker to being the entrepreneur.” - Henry Daas
- “Short-term thinking will give you short-term gains.” - Henry Daas
- “Are you running a business, or are you running a money-making venture.” - Henry Daas
- “Many, many, many people, I would say, the most common archetype, is living in scarcity.” - Henry Daas
- “We bet on people, we don’t necessarily bet on processes and ideas.” - Henry Daas
Resources Mentioned:
