Episode 142

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Published on:

14th Feb 2023

10 Lessons From My Money Coach

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What financial goals do you have, and how far are you from achieving your goals? Every financial goal needs a financial plan. Creating a plan and implementing it can be better achieved with the help of a money coach. 

In this episode, Sharran walks you through 10 lessons he learned from a recent debrief with his money coaches, Russ Morgan and Joey Mure. These amazing individuals have made it their mission to share strategies for creating passive income streams to help people achieve financial freedom through their podcast, Wealth Without Wall Street. Having them as your coaches will influence your aspirational beliefs around money and take you on a joyful and abundant journey to financial freedom. 

The lessons outlined here, which you probably won't hear anywhere else, are a combination of lessons for life, tactics for investing, and a way to think about a bigger and better future for yourself and your family. So make sure to take advantage of this super important episode. It will definitely change your life for the better!


“If you don't have energy in the bank, it doesn't really matter how much money you have in the bank.”

- Sharran Srivatsaa

Timestamps:

00:00 Introduction

04:42 Lesson #1: You cannot outperform how you feel

05:46 Lesson #2: Every money goal needs a money plan

09:36 Lesson #3: Most investors have big goals with a small system

11:02 Lesson #4: At some point, it's okay to dial back your lifestyle to get your investments to start working for you

14:24 Lesson #5: Look for strategies to extract locked-up money in your retirement account; Otherwise, you're hamstringing yourself from using your own resources today to create passive income opportunities right now

16:42 Lesson #6: Just like using other people's money, you could also use other people's audiences if you do right by them

17:57 Lesson #7: Partner with people who have similar values but different skillsets

18:40 Lesson #8: Money is only one part of the investing equation, and it's often the easiest to create or raise when the rest of the pieces are aligned

20:09 Lesson #9: Wealth creation is all about building infrastructure, not just chasing the next hot deal

22:01 Lesson #10: There are numerous paths to financial freedom, and the most important thing to do is just pick a path and start

23:26 The Financial Freedom Formula 

24:34 What is the Passive Income Mastermind?

25:27 Recap of today's topic

Resources:

- Join the Passive Income Mastermind

- Wealth Without Wall Street Podcast

- The Real Brokerage

- Top Agent Power Pack

- ARC Multifamily Real Estate Investing

- Sharran's Partnership Program

- Join the 10K Wisdom Private Partner Podcast, now available to you for free

- Grab Sharran’s 4-Week MBA for Free

Connect with Sharran:

- Facebook

- Instagram

- Twitter

- LinkedIn

- YouTube

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About the Podcast

Business School with Sharran Srivatsaa
Business School is hosted by Sharran Srivatsaa, President of Real (TSX: REAX) (NASDAQ: REAX), the fastest-growing, publicly-traded, real estate brokerage in the world. Sharran grew Teles Properties by 10x in 5 years to $3.4 Billion in sales and eventually sold the business to Douglas Elliman. Sharran is also an accomplished “deal guy” and private equity investor. He is the Chairman of private equity firm Highland Prime which focuses on investing in service-businesses and also the Chairman of ARC Multifamily Group which focuses on value-add multifamily investment projects.

Sharran is a former Goldman Sachs and Credit Suisse banker and a sought after keynote speaker and is the creator of the wildly-popular 5am Club call for Entrepreneurs.

On this podcast, Sharran shares his best secrets on how to grow your business strategically, how to build your brand elegantly, most importantly integrate the profits in your business with an overall joyful life.

For more free resources visit Sharran.com

About your host

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Sharran Srivatsaa

Sharran is a serial entrepreneur, sought after keynote speaker, and a respected thought-leadership resource for publications such as the Wall Street Journal, SUCCESS magazine, Huffington Post and Forbes.

While Sharran has had 5 exits in the last 19 years, and also a several humbling failed investments and business initiatives. He talks all about them on his top rated Spotify podcast, Business School.

Most recently, Sharran led Teles Properties’ unprecedented 10x growth over 5 years and a 4-year consecutive streak on the Inc. 500 fastest growing companies list resulting in its acquisition by national real estate powerhouse Douglas Elliman.

Prior to Teles, Sharran worked at both Goldman Sachs and Credit Suisse, where he collaborated with management teams of fast-growing businesses around the country on investment advisory and corporate strategy. Sharran also spent several years building recreational programs in the Caribbean, Middle East, and Hawaii for some of the finest international resorts such as the Four Seasons and Ritz-Carlton, also has deep experience working with technology companies such as Lightera (acquired by CIENA) and Obopay, a fast-growth mobile payments company.

Sharran is a Principal at Srilo Ventures, a multi-factor private investment fund that focuses investing in and advising technology companies and operating businesses in the consumer space. Having successfully completed many acquisitions, joint-ventures, management buyouts, mergers, and capital raises, Sharran serves as a director and advisor on numerous company boards.

He is also a member of the Genius Network, the highest-level marketing mastermind in the world led by whizkid Joe Polish, and also a member of Young President’s Organization (YPO).

After competing on the professional tennis tour, Sharran received his Bachelor’s degree in Computer Science from Luther College and his MBA with Honors from Vanderbilt University.