003 - Vision for 2020

2 Wealth Show S2 Ep3 – Vision for 2020

Justin Bogard and Super E discuss 2019 and the future of 2020 in the 3rd episode of season 2. 

Key Takeaways:  

1. 2019 Recap - what worked, what didn't
2. 2020 Goals - both Personal and Business 

Resources and links discussed  

• Videocast on BrightPath Notes YouTube Channel 
• Videocast on Elizabeth Maora YouTube Channel 
• BrightPath Notes Website - https://brightpathnotes.com 
• Elizabeth Maora LLC Website - https://elizabethmaorallc.com 

Sponsored By: Integrated Health Solutions 

We are passionate about your health and wellness and we know you want to enjoy a vibrant, pain-free, active lifestyle, but when you are in pain this seems almost impossible. 

In order to be pain-free, move fluidly, and enjoy an optimal level of functionality, you need a personalized yet integrated, research based and clinically proven approach and that’s what we do.

To learn more visit us at  

ihsindy.com
cryotherapyindy.com 

About the Hosts 

Justin Bogard – Note Investor specializing in performing Residential Real Estate Debt. He finds deals and acquires them for his own portfolio as well as educates investors while walking them through the process of owning a Real Estate Note!  

Super E – Real Estate Investor specializing in short-term rentals and the management of them. She connects investors with short-term tenants and manages everything in-between.    

Connect with the Hosts: 

• @2wealthshow – Facebook/Instagram 
• @wealth_show - Twitter

Transcript

Justin Bogard: 0:04

Welcome to the two wealth show, a show that shares how you can create real wealth for you and your family. I'm one of your hosts, Justin Bogard and my cohost is Elizabeth Sickles, AKA super E. I am a real estate note investor specializing in performing residential real estate debt. I find the deals acquire them for my own portfolio as well as educate investors while walking them through the process of owning a real estate note. My cohost, super E, a real estate investor specializing in short term rentals and the management of them. She connects investors with short term tenants and manages everything in between. Our show was sponsored by BrightPath notes and Elizabeth Maora You can find out more information by visiting our websites@brightpathnotes.com and ElizabethMaora.com hi and welcome to the two wealth show, a show that shares how to make real wealth for you and your family. I'm one of your hosts, Justin Bogard and I am Elizabeth Maora-Sickles. All right, and I'm supposed to talk about, you're supposed to talk about the description of the show. Elizabeth,

Elizabeth Maora-Sickles: 1:27

we're going to be looking at 2019 what are our big lessons learned in the businesses that can help you. And then also we're going to be looking forward into this year into 2020 and beyond some of our goals, kind of what's going on as well. So we're excited to share lessons learned to help other people and then what we have up up our sleeves so to speak for this year.

Justin Bogard: 1:45

Absolutely. And the show was sponsored by our businesses and mine is bright path notes and you can find us at brightpathnotes.com and Elizabeth Maora at Elizabeth Maora.com is super E's business. It is. So I'm glad I got to ask you a few questions. I learned a little bit about you as you learned a little bit me in the first episode. And so probably my biggest, um, take away was probably your, um, your Japanese and Chinese culture education that you put on me. I, uh, I didn't realize how different they were until you had a specific scenario about how close people get in, uh, China. And it's not a big deal to rub against each other when you're walking past each other. And in Japan there's like a sliver of air between them that they will not touch each other. They do. It's, it's all over. It's all over. See ya wouldn't want to be, yeah. Yes. Very different cultures. So this is episode three into our new season and uh, let's get right into it? So Elizabeth, 2019, um, it was a pretty big year for me. Awesome. Pretty big year. I definitely reached goals. I wanted to reach a thank you. So high five. I wanted to get about 50 plus transactions under my belt in 2019. I did that a little bit more. And um, let's see. I dunno. Lessons I learned is probably the stuff I talked about in the first episode about, um, basically as a spider, Oh my God, we're not cutting that out. That's too scary. I actually have a fear of spiders.

Elizabeth Maora-Sickles: 3:26

Oh, you want me to kill it? Go away. I'm back. I saw you looking over there. And I was like, what is she doing? Like, and then I'd realize it was an insect and then it was a spider in the night.

Justin Bogard: 3:40

Yeah.

Elizabeth Maora-Sickles: 3:41

I would have killed it if I knew you had a fear of spiders. That's okay. I don't want to kill it. I just want to go somewhere else. I don't want to hurt the thing. Come on. You're going to have animal rights rights activists, you know, petitioning our show to be canceled our big time show here. Let's not do that. Let's not do that. So we didn't kill it. For all intents and purposes, we didn't kill anything.

Justin Bogard: 4:02

Nothing happened. I went away. That's right. 2019 yeah. Achieve some goals. Um,

Elizabeth Maora-Sickles: 4:08

do you have some big goals? It's actually to just, just to stop for a second because one of the things that we don't do is we don't really celebrate whenever we do it. So that's one of the things with my coach that he's always like, we've got to celebrate your wins. Your milestone. Yes. They're huge. I mean, 50 transactions. That's incredible.

Justin Bogard: 4:26

Thanks. Yeah. And, and you know, I had a little bit of help. I've had a couple of assistants, a couple of VA's that have transitioned through and they've definitely helped along the way. I had somebody to work with me for a couple months, beginning of year, a guy named Ricky, I think he met him. Great guy. Real cool guy. Yeah, he's got cool story. And uh, but yeah, I just put my nose to the ground. I just just said, you just gotta make it happen. I started, you know, getting uh, in front of investors a lot more and I think it really helped get me some more transactions under my belt. So those are pretty big year 2019 I definitely got some more speaking opportunities, which I look forward to doing more in 2020. Um, but I'd probably say lessons learned is that I needed to have some better processes in place. I have found that I was spending a lot of time doing repetitious work when I could build something like some sort of automation, either with software or with just process or handing off to a vendor. And so once I started to realize that I, I can only do so many transactions at one time, I realize I need to be able to scale. I'm going to have to build some stuff. So I was working on some things in 2019 to help me. So it's helped me a little bit and I still got a long ways to go to build some better automations and better processes in place. But, um, that was my biggest lesson was probably to get stuff built in place to where things can just start flowing through. See, you're more out of the picture. So, yeah, I want to, I'll have to be in day to day operations, you know, sound. Now I'm building a team, but I won't have to be to the nth degree that I was in 2019. You know, I'm the one emailing everybody. I'm the one following up with receivables and payables and you know, all the things that have to do with the business. And so you're, you're burning the candle at both ends, so to speak. But, uh, yeah, that's, that's probably my biggest lesson was realizing that you need to ask for help and you need to train really. And along with training was recording actual mouse clicks and steps and dropdown menus and software that we use so that somebody else that jumps in this seat and they don't have to know anything about what I do, but they can follow the instructions. It can be like, okay, when I receive this information from him I can do this, this. And it was so, it was so easy because after you transitioned through a couple of people, you realize, you know, you don't want to have to repeat that process over again because that's time consuming. But if you record it like record your screen, it was great. I had a voiceover on it and that would make them real short like four or five minutes long. So they weren't like a 25 minute, you know, video so to speak. But that's been a pretty smart move on my part. I think that helped me, especially when you're working with a virtual assistants, which we talk about a lot in the pilot season. That's a big congratulations. Yeah. Yeah, it's, it's weird. You reach a certain point in the business and you're just like, all right, I made something that you're happy, you celebrate a milestone. Right. But then you just like me, I got a lot more work to do because I, now that I, now that I see past, you know, the next rock, so to speak, and be like, Oh wow, there's still a long ways to go. It's fun, you know? And that's why we're entrepreneurs, you know? We love that challenge. We love that, that task. So, and how many years, right? Path notes have you been in business since 2016 I believe is only formed so, so it'd be a little bit over three years. By three and a half years, I would say.

Elizabeth Maora-Sickles: 7:58

Awesome. Okay. So at least I think for me, like it took, so I've been in business now two years in September. So it's like man, it takes you two years just to even figure out what the heck is going on.

Justin Bogard: 8:09

Yeah. Cause you're just, you're drowning like in everything coming at you all directions. You think you know what you're doing. You're like, Oh yeah I can, I can run a business and you're just, you need to get into it. You're just like, I can't run a business. I mean, you know, and you get that realization real quick. Well I did. You know, it'd be like you don't know what you're doing. Like I don't know what I'm doing. It's time to ask for help cause I ain't going anywhere. I'm stuck in mud.

Elizabeth Maora-Sickles: 8:33

So is your, so you mentioned that the processes, so are you going to be getting more out of the day to day? Do you want to be strictly the face of the business or what's, what's kinda your plan now for

Justin Bogard: 8:46

bright path? So I want to be more of, I guess like a visionary. So I'll, I'll be in more involved in like setting the tone or pace of where the business, the direction is going to go. The spider over there again and keep looking in different directions. Now you're going to freak me out anyways. So that's what I want to do. I want to step back a little bit. I want to be able to take a step back, look at the kind of the overall picture of it and keep it going and make it scalable and you know, just kind of build it from there. So I'm starting to get people at different levels now, people to help with certain processes. I got stronger vendors and stronger partners now to where I can depend on them to do things for me and have the liability kind of on them. And if somebody is the expert at it, my God, have them do it. You know, don't try and reinvent the wheel. Don't try and be the expert at something that you're not the expert at to begin with. I know what I gotta do. Like I said before, I got to stay in my lane and it helps a lot. You know, it's hard to relinquish control. Wouldn't you agree?

Elizabeth Maora-Sickles: 9:50

In some things, yes. But another things absolute, no. Heck no.

Justin Bogard: 9:54

I have a problem with control. With like the financials.

Elizabeth Maora-Sickles: 9:57

Yes. That's like

Justin Bogard: 10:00

some people I know they, they let their virtual assistant or their just assistant basically handle like their banking stuff and their, their bookkeeping and all that stuff and I'm sure they can handle it just fine. It's just tough to give it up cause you just like, do not mess this up. You know, this is so important. Like once you make an error and one of these things, it's, it's so tedious to go back into fix it as opposed to just quadruple checking yourself and just doing it. Right. So that's the hardest part for me and I haven't let go of it yet. I've let go a little bit. I like to go the bookkeeping okay with my accountant isn't really running all that, but it's one of those financials go. I definitely haven't let that go yet. I'm just too too afraid. I don't blame you at all because we're doing wire transfers like all the time, you know, receiving wires, sending wires, and we're, you know, it's just that sort of thing to scares me and I don't want it to, I don't want to relinquish control yet, so I'm sure I'll get there. But that's probably the biggest thing I need to get over is get to a point to where I'm not even doing that stuff anymore. How do I have controller or, or some sort of person that's handling that aspect of the business. So, but how about you? What's 2019 look like for Elizabeth Maora. I know you had a lot of moving parts this year.

Elizabeth Maora-Sickles: 11:12

We, we did, it was really crazy. Um, brought on two new team members who have been absolutely amazing. Becca and Jeremy. Um, the biggest lesson for me last year was I actually, and I didn't even sit down and like to really know what our true costs were until fourth quarter. Um, so for all of you other entrepreneurs out there, I make sure that you have a handle on your finances from the very beginning. Um, so we had a lot more expenses than what I had realized that I was absorbing. So, um, so the good thing is, is I know that now, so now, now we can charge accordingly. Um, which is extremely important. So the other thing is just, um, I had to go through finding a really great bookkeeper is extremely difficult. Um, actually Justin is the one that recommended a bookkeeper for me and they are amazing. So, um, anytime that you have your own business, even in your personal lives as well, just man, what is your budget? Which is the, what's the finances? And it sounds so easy. Like even, you know, before going into this,

Justin Bogard: 12:17

just run a report, you'd know everything. No, I still have to have my accountant go over the reports with me and show me the, the business financial and just like, I still don't understand. Like you think it's just simple like two numbers and it's not, it's, it's a lot more invasive, you know, it's just, there's a lot to it there. There is, the business is going to have a lot more expenses in my businesses too. So I'm sure your reporting is going to be, you know, all over the place.

Elizabeth Maora-Sickles: 12:45

Yeah, we have, yes, there's, there's a lot going on, especially since we do the design and furnishing, which we've also decided this year to for 2020. We're actually putting a focus on that part of the business as well. Um, but part of too last year was really figuring out is was what are our big strengths. Yeah. So that was once there was a lot of discovery in the business last year and one of the things that we do at all of our ops, so our operations meeting is weekly and then at the end of our ops meeting we always do what went well and what needs improvement. So, um, and I love it because my team, like they can tell me whenever they, you know, things aren't going right. So I think it's really important that you have that kind of open culture so that people feel comfortable saying, Hey, like I don't, this isn't working out quite so well. So, um, so he, it was really, really a huge year, um, for the business. We did the recordings, we put out the university, so an online course. Um, and just, I did a lot of speaking all over the U S which is really fun. I love that part of it. Um, so it's just, it's a lot of grind, you know, to, to do that. It's kind of funny cause when you see the big names out there like the Lewis house and ed, my lead and all these people that you know, that have really have made it big and you think that their lives are easy. But then even if we just look at our own and we see man, like there's so much going on, right. But our Instagrams our Facebook. Like that. All it all looks good. But man, there's a lot behind the scenes and business that, you know, go on, whether it's with our clients or, you know, we've had some really fun guests and all kinds of interesting things. Absolutely. So 19 was a, was a really good year for us.

Justin Bogard: 14:29

Absolutely. That was a pretty much eye-opening, you know, this year for us too. Um, it was great. All the accolades that you get, but you still got to continue to push forward. So pushing forward to 20, 20, you know, what is it that Elizabeth Maora is striving to do?

Elizabeth Maora-Sickles: 14:48

Yeah. So we went through our goals this week. Um, I don't know if we can hit it. We're going to try it. I hated it when I was in corporate and they had stretch goals. So you had your goals in the stretch ones, but we, we really want to get to$1 million, um, in sales. So that's, that's from all aspects of the business. Yeah, that's what, that's what the team is working on. Um, we also, I want to be a guest on the Ellen DeGeneres show, so, yeah. So, um,

Justin Bogard: 15:17

well I wish you luck. You might not need luck because you deserve to be on that show, but, uh, I can't wait to see it. So what do you do? You gotta send out a letter to them and say, Hey, I'm Liz Maora,

Elizabeth Maora-Sickles: 15:29

I want to be on your show. You should have me because episode Ellen. So I yes, we should, I say if anybody has any connections, let us know. Um, I don't, we're kind of exploring a couple of different ways to get on the show. Um, so it should be fun. But actually when I was a kid, I used to pretend cause Oprah was right, so like kind of like Ellen's the Oprah of today. But when I was a kid, I used to pretend that I was being interviewed by Oprah, so I was like, well, you know what, now it would be, I would still be interviewed by Oprah. Of course. That's an open invitation. Miss Oprah. Yeah, sign me up too. I'm not that interesting, but yeah, sure. So yeah, we've got some really big things on, on the horizon and then growing the team as well in the different areas that my team wants to improve on their strengths.

Justin Bogard: 16:22

That's awesome. Awesome. I like how you guys have a weekly meeting. Absolutely. I don't have a full time staff with that works with me, but I have a couple of virtual assistants that work with me but we still do a weekly meeting and sometimes it's a, it's an addition to that. It's a weekly training meeting. Whether it's a process or whatever it does, it does make a difference. And we've been recording them as well so they can go back and rewatch what they just did and they can kind of, you know, take notes or revisit, cause they, they've, they feel bad if they ask me multiple questions. But I always tell them, you know, definitely ask me the question if you need help with something, but at least they can go back on their own time and just kinda go through it and rewatch the steps and stuff. Cause as you know, this business, like if you're not in real estate and you're trying to get a notes, I mean it's a lot to take in. If you're in real estate and trying to get to notes, it's still a lot to take in. So it's just like, it's very foreign and very obscure that what somebody, you know, used to be used to doing. So it'll get figured out. We have transactional goals this year, 2020, you know, we want to reach, you know, the 75 to 80 window with transactions. And if I'm able to put more pieces of the puzzle in place, I'll have to off to kind of, you know, rearrange my goal a little bit. And maybe my goal will be to week, but right now I feel like if I had the same pieces of the puzzle in place, you know, 75 is going to be a stretch, stretch goal.

Elizabeth Maora-Sickles: 17:46

Let me a stretch further. So let's talk about quick personal goals for 2020. So for me, it's all about the F's actually. So yeah, financials, fitness and faith. So I'm going to do another tough Mudder. It's of really extreme, um, obstacle course. I have a whole team, actually. It's team EEM. Um, yeah, some of my clients are going to do it with us and then I'm just one of the members of my immediate team. Uh, but they're all, uh, some of our vendors as well. So I'm excited about that and I'm going to be faith wise, I'm going to be getting involved, um, with the church that I had joined or I haven't officially joined it but had been going for several months. So now it's time to actually meet people and get more involved with that. So I'm excited.

Justin Bogard: 18:32

That's awesome. That's a good goals. Um, I'd probably say for me, I've definitely taken, I had put fitness on the back burner the last year and it's something that I really want to get back into. So I want to just be more regular about fitness, not like every day, but you know, I'd probably want to do some sort of exercises a few times a week. So I started that with my workouts have been doing that I've designated during the week and I want to get some more goals like that. I want to make sure that, um, I get some more date nights.

Elizabeth Maora-Sickles: 19:03

Oh, right. Okay.

Justin Bogard: 19:05

So, um, we even talked about doing some dancing lessons last year, so take that into consideration. And I think we're gonna make that, I'm gonna make it a priority to push for doing fun things like that. So that's what I want to get out and focus on you. I do a good job of balancing life and work balance, but I think I just want to make sure that I designate specific times with like individualized with the kids, you know, each individual kid I want to do like one on one stuff with them. I think that'll be, that'll be good for me and for them too. So that's what I got. Awesome. As a fun episode.

Elizabeth Maora-Sickles: 19:38

So it was by, bye 2019 and

Justin Bogard: 19:41

hello 2020 stay in your lane, right. Stay focused. So you can catch this a the video part of this episode on our bright path notes, YouTube channel and also Elizabeth Maora YouTube channel as well. And um, all we got for today.

Elizabeth Maora-Sickles: 19:58

That's right. So thanks for tuning in. We have a lot more coming up this year. A lot more in depth information for the industries and how to really capitalize on this. So we're looking forward to

Justin Bogard: 20:07

yeah, how to build your wealth. This is the to wealth show. I'm Justin Bogard

Elizabeth Maora-Sickles: 20:12

and I'm Elizabeth Maora Sickles, AKA super E.

Justin Bogard: 20:14

That's right and sponsored by bright path notes and Elizabeth Maora. Until next time, see episode four thank you Two wealth show is produced by Justin Bogard and super E. It's sponsored by BrightPath notes and Elizabeth Maora. Thanks for listening and watching our show.