Tips From The Professional: How to Use Past Failures to Propel Your Future

Raymond Sjolseth is a successful business builder and investor. He has started 45 businesses in his career and the majority of them ended up in failure. However, 5 of them led to some big exits. Raymond is a huge believer in learning through failure and being able to unlearn and relearn along the way. He utilizes two concepts that we get into detail with in this episode: The Four ones and the 5 X 4 method.

In this episode he talks about real estate investing, overcoming trauma, and how to restart and begin again.

Raymond is currently with EXP Realty building a team of agents and he operates out of the Chicagoland market.

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// QUOTES

"That’s why I have had so many failures because I try new things and I learn from them. But, it’s also given me so much contrast that has given me clarity on other businesses because I understand the mistakes I have made along the way"

“Where I feel responsible is, I felt like I gave somebody enough rope to hang themselves and that's on me.”

“If you can create a system that you can stick to, that you're comfortable with, and that you want to do. It's a game changer.”

“Stop trying so hard and figure out a different way because it doesn't have to be challenging. There's always another option if you’ll give yourself the time and the white space to think about it.”

“I think one of the most important things is to know your strengths.”

"I think it is that self awareness and the ability to know I have work to do on myself and that I want to be constantly improving. There is that Japanese word Kaizen that means constant improvement and that is what I live by."

“You have the ability to begin again at any time. I’ve really taken that to heart, it is not easy, it is not for the weak, it is frustrating and it is challenging. If you are able to control your attitude, which dictates your thoughts, feelings and emotions, then you can control your stress level”

// CONCEPTS

•Real Estate is comprised of people and partnerships. That’s it.
•The ability to begin with the end of mind is important. You need to identify what you do want to do and more importantly what you do not want to do.
•The four ones: One Hour of Lead Generation Per Day, Set One Appointment, Add one Contact To Sphere of Influence Every Day, And Conduct One Appointment Per Day
• Raymond utilizes what he calls the 5 X 4 method. He has 5 activities he wants to complete every day and he allocates a 4 hour window for that. His goal has been to complete these tasks between 8-12 every morning. Adding this process has been a game changer for him.
•Raymond has learned through self awareness that nothing is going to be perfect out of the gate. It is going to take time to figure it out. Imperfect action is the route to figuring it all out.
•The question is can you do this consistently? If you do this consistently you can have any business you want. Most agents don’t have a plan and that is why they don’t get anywhere.
•One of the most important things is to know your strengths. One of the best ones is the Clifton Strengths Assessment. It taught me a lot about myself. What it does is break down your top 5 strengths and gives you a good idea what to focus on.
•Time block in 60-90 minutes periods. Focus on one activity for these periods of time. Everybody talks about time management but you cannot manage time everybody gets 24 hours. What you can manage is your activities.
•Raymond reads the book You 2: A High Velocity Formula for Multiplying Your Personal Effectiveness in Quantum Leaps every day. It is a short book of only 35 pages.

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// TIME STAMPS ⏲

0:00 - Introduction
0:57 - What was your craziest experience in Real Estate?
7:41 - What are some key lessons you’ve learned?
8:56 - What are some of your success stories?
13:18 - How have you been able to handle stress?
16:21 - Did having a ruff childhood help with your success?
20:31 - How did business exploits lead you to Real Estate?
22:08 - What skill sets were important to keep?
24:06 - Real Estate Transition expectation vs. reality.
28:57 - What are the different traits of agents based on?
30:53 - What strategies do you use to focus more?
33:01 - What was the most influential mentor or author for you?
35:59 - What tool has been most effective?
39:27 - ENDING