Episode #182 Take the Right Risks with Henry Daas

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:

  1. Entrepreneurs who want to break through a financial ceiling must scale up and bring in the right people to help them grow their business.
  2. Knowing the destination is essential for entrepreneurs because then they can break down the necessary steps to get there.
  3. 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

 

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