Business School with Sharran Srivatsaa

Episode 162

full

Published on:

4th Jul 2023

Building Blocks of Money

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Are you comfortable talking about money? Do you clearly understand your financial situation and can confidently say that you know your numbers? Yes, you should be aware of the three critical numbers–do you know what they are? If not, you will have difficulty improving your financial situation.

In this episode, Sharran takes you through the three foundations of personal finance, the building blocks of money, with tactical steps to start your journey to financial freedom. The sooner you learn how to manage your finances, the better your long-term financial prospects will be for things like investing or planning for the future.

If you want to understand how your money flows and plan for a better future, this episode will give you a clear framework. So let's dive in!

“Financial freedom is where your passive income is greater than your monthly expenses.”

- Sharran Srivatsaa

Timestamps:

01:57 The number one question people ask Sharran

03:25 The three things discussed in this episode

03:44 What qualifies Sharran to talk about personal finance?

05:08 Knowing these three numbers will guide your financial future

07:50 Why is it important to track your numbers?

08:13 How do you define financial freedom?

12:42 Why is it important to build your plan?

14:41 How do you build your plan by telling the truth? (The 3-1-90 Rule)

18:04 It's a terrible idea to do this when setting a goal

19:07 The only action you need to take to make things better

19:51 Why is it important to automate your flows, and how do you do it?

24:18 The biggest unfair advantage you can have and what you need to do to have it

25:06 Recap of the building blocks of money

Resources:

- Haven Financial Services

- ARC Multifamily Real Estate Investing

- The Real Brokerage

- Top Agent Power Pack

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

- Sharran's Partnership Program

- Grab Sharran’s 4-Week MBA for Free

Connect with Sharran:

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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

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.