Money Matters Episode 299- Mentorship & Mastery W/ Steve Hamoen

Steve Hamoen: Money Matters Podcast Interview

November 14, 2023 . 9:55 AM . ID: 915403925

Transcript

00:00 - 00:02
[speaker unknown]
This conference will now be recorded.

00:03 - 00:05
Christopher Hensley, RICP®
Good, morning, everybody!

00:05 - 00:11
Christopher Hensley, RICP®
You're listening to: Money Matters, I'm Chris Hensley, we have a fantastic show lined up for you today.

00:11 - 00:13
Christopher Hensley, RICP®
We have with us, Steve Yemen.

00:13 - 00:16
Christopher Hensley, RICP®
He is a passionate entrepreneur.

00:16 - 00:20
Christopher Hensley, RICP®
He is the host of money Mindset and Mentoring.

00:20 - 00:21
Christopher Hensley, RICP®
Steve.

00:21 - 00:23
Christopher Hensley, RICP®
Thank you so much for being on the show today.

00:23 - 00:25
steve hamoen
Oh, thank you very much for having me.

00:25 - 00:25
steve hamoen
I really appreciate it.

00:26 - 00:31
Christopher Hensley, RICP®
Absolutely, and I want to I'm going to share a little bit of your bio with listeners to get to know.

00:31 - 00:45
Christopher Hensley, RICP®
Yeah, I mean, we've talked, and I met last weekend, and I think we're going to have a good match here, But let me just share a little bit for listeners to get to know, you hear, Now you are, you're a seasoned entrepreneur sales expert.

00:45 - 00:51
Christopher Hensley, RICP®
You have a career that's been dedicated to guiding ambitious entrepreneurs toward achieving their financial goals.

00:52 - 00:58
Christopher Hensley, RICP®
Tell us a little bit something about yourself outside of the bio, so listeners can get to know you a little bit better.

00:59 - 01:00
steve hamoen
Well, thank you, Anne.

01:01 - 01:07
steve hamoen
So, outside of the bio, one of the things that I'm really passionate about, number one, it's, it's, I love success in all all aspects.

01:07 - 01:08
steve hamoen
So I love success in business.

01:09 - 01:25
steve hamoen
I love success and family, and I love success and **** and, you know, from a family perspective, got three amazing kids and my wife and I we've been married for over 15 years and from the health side, you know, I teach a coach, Brazilian jujitsu.

01:26 - 01:27
Christopher Hensley, RICP®
Ah.

01:27 - 01:29
Christopher Hensley, RICP®
Yeah, OK, yeah.

01:29 - 01:30
Christopher Hensley, RICP®
I'm a Blue Bell.

01:30 - 01:30
Christopher Hensley, RICP®
I didn't know that.

01:32 - 01:32
steve hamoen
Conversation.

01:32 - 01:34
steve hamoen
Oh, we're gonna have a very good conversation.

01:35 - 01:35
Christopher Hensley, RICP®
Yeah.

01:36 - 01:38
Christopher Hensley, RICP®
Nice, OK, keep going, I'm sorry I interact.

01:38 - 01:39
steve hamoen
Yeah.

01:39 - 01:40
steve hamoen
That's great.

01:40 - 01:42
steve hamoen
So I've been trading for about 10 years in Brazilian jiu-jitsu.

01:42 - 01:43
steve hamoen
Yep.

01:43 - 01:44
steve hamoen
Also, a blue dot, actually.

01:46 - 01:46
Christopher Hensley, RICP®
Nice.

01:46 - 01:47
Christopher Hensley, RICP®
Nice.

01:47 - 01:51
Christopher Hensley, RICP®
I am, I'm at the five year mark, but I took a breather during coven.

01:51 - 01:58
Christopher Hensley, RICP®
So, I've been back, you know, once the, you know, we were able to get back to training, but, you know, there's been a cost.

01:59 - 02:01
Christopher Hensley, RICP®
So, I'm getting there.

02:02 - 02:03
Christopher Hensley, RICP®
Well, awesome.

02:03 - 02:04
Christopher Hensley, RICP®
Well, that's good to know, man.

02:04 - 02:10
Christopher Hensley, RICP®
So, well, I think we have a lot of stuffing in common here, will have a great conversation, and I want to just start, we'll get right into it.

02:11 - 02:21
Christopher Hensley, RICP®
Tell me a little bit about what inspired you to start money mindset, and mentoring your podcast, and how your own entrepreneurial journey influence this decision.

02:22 - 02:23
steve hamoen
So, that's a great question.

02:23 - 02:27
steve hamoen
I mean, I think, you know, many times, you sit there, and you have conversations with people.

02:28 - 02:30
steve hamoen
And you're either having a conversation.

02:30 - 02:36
steve hamoen
That's just hysterical, and you're thinking, Man, no, this is a conversation that people would listen to.

02:37 - 02:40
steve hamoen
And, are you having a conversation that's deep and impactful?

02:40 - 02:41
steve hamoen
And you think the same thing?

02:41 - 02:50
steve hamoen
And so that, you know, why don't I just put this out there, and, and because, you know, one of the things I think is, I know a lot of really great people, but their stories never get heard.

02:51 - 02:55
steve hamoen
And it's, so it's the idea of allowing their stories to kinda get out there and get their messaging out there.

02:56 - 03:07
steve hamoen
No, because a lot of them have gone over so many mountains, whether, again, it's, it's financial, whether it's in their personal or physical journey.

03:08 - 03:08
steve hamoen
No.

03:08 - 03:12
steve hamoen
I think, getting the message out that the normal person can achieve great things.

03:13 - 03:14
steve hamoen
I think that's a very important message.

03:16 - 03:17
Christopher Hensley, RICP®
Love that I love that.

03:17 - 03:28
Christopher Hensley, RICP®
So, really, I mean, you've been in these situations where you've had, you know, people, you've been in these situations, where you've had these conversations and you're saying, you know, these stories need to get out there, people no need to know about that.

03:28 - 03:34
Christopher Hensley, RICP®
And that kinda, was the domino that got you started on on money mindset there.

03:34 - 03:36
Christopher Hensley, RICP®
Now, you did a podcast prior to that one as well.

03:37 - 03:38
Christopher Hensley, RICP®
Tell us a little bit about that.

03:39 - 03:45
steve hamoen
Well, I did, I did a release of the podcast earlier on and I just felt that I needed to rerelease the podcast.

03:45 - 03:53
steve hamoen
So it's actually the same podcast, interest due to be released in a way that, I think, you know, is to kind of change the way that the, The structure was.

03:53 - 03:54
steve hamoen
I mean, you do something once.

03:54 - 03:56
steve hamoen
It's like Grant Cardone when he released his first book.

03:59 - 04:02
steve hamoen
Know, one of these bookseller survive it but sell their survival.

04:02 - 04:07
steve hamoen
And you know, he liked it, but then I guess the, the life life, you know?

04:07 - 04:09
steve hamoen
No saving device in the front kinda got old.

04:10 - 04:13
steve hamoen
So then you switch it to seller be sold and re-released that again.

04:13 - 04:16
steve hamoen
And I think, you know, that's kind of I went through the same mindset.

04:18 - 04:18
Christopher Hensley, RICP®
Love it.

04:18 - 04:20
Christopher Hensley, RICP®
I love that kind of a redesign a rebrand.

04:20 - 04:21
Christopher Hensley, RICP®
Yeah.

04:21 - 04:22
steve hamoen
We are.

04:23 - 04:26
Christopher Hensley, RICP®
We're hitting the 10 year anniversary year for Money Matters.

04:26 - 04:40
Christopher Hensley, RICP®
And so I know over the last 10 years, what we started with and where we're at now has changed its, you know, and so going back and, and, you know, kind of narrowing or changing your focus on it is, is huge.

04:40 - 04:45
Christopher Hensley, RICP®
And then you mentioned Grant Cardone, which I'm also gonna give you high five for that Grant Carter.

04:45 - 04:46
Christopher Hensley, RICP®
Love Grant Cardone.

04:46 - 04:51
Christopher Hensley, RICP®
Anytime I need a good swift kick in the ****, I'll put his his 10 X.

04:51 - 04:52
steve hamoen
Book on.

04:52 - 04:53
Christopher Hensley, RICP®
Audible and listen to it.

04:54 - 04:56
Christopher Hensley, RICP®
It's like a vitamin for your brain, right?

04:56 - 04:59
Christopher Hensley, RICP®
It really, really kinda helps keep us accountable, You know?

04:59 - 05:00
steve hamoen
We've got, we've got a.

05:00 - 05:01
Christopher Hensley, RICP®
Lot of that.

05:01 - 05:06
steve hamoen
In the, you know, take the vitamin for the brain, and then go to Jujitsu and take the vitamin for the body.

05:07 - 05:08
steve hamoen
That's exactly.

05:08 - 05:09
Christopher Hensley, RICP®
Exactly.

05:09 - 05:13
Christopher Hensley, RICP®
That's the way, even when our brains not online, sometimes our bodies need needs.

05:13 - 05:24
Christopher Hensley, RICP®
And, say, This is the way, when you know, you know, I'm managing millions of dollars a day, I'm able to switch my brain my, my brain off and move to a different system.

05:24 - 05:25
Christopher Hensley, RICP®
What I'm doing jujitsu.

05:25 - 05:32
Christopher Hensley, RICP®
It is it is one of my biggest stress relievers there, so hopefully the listeners will relate to the Curiosity.

05:36 - 05:38
steve hamoen
What, what opened the door to say.

05:38 - 05:40
steve hamoen
Hey, because, I mean, if you started five years ago.

05:41 - 05:44
steve hamoen
I mean, you know, don't take this in any way other than a positive.

05:44 - 05:45
steve hamoen
You're not a sprint.

05:45 - 05:45
Christopher Hensley, RICP®
Yeah.

05:45 - 05:45
Christopher Hensley, RICP®
Yeah.

05:46 - 05:48
Christopher Hensley, RICP®
And so, what made.

05:48 - 05:52
steve hamoen
You think later in life, hey, I just wanna go and get on some Madsen jokes in vivo.

05:53 - 06:04
Christopher Hensley, RICP®
Yeah, so that's, I don't know how interesting this story is, but like, like print, you know, I have a 13 year old now and I put him into Jujitsu as, hey, let's get them subdiscipline.

06:04 - 06:06
Christopher Hensley, RICP®
Let's give them some structure.

06:06 - 06:09
Christopher Hensley, RICP®
Let's get them off the couch and them stop playing video games.

06:10 - 06:10
Christopher Hensley, RICP®
Right?

06:10 - 06:22
Christopher Hensley, RICP®
So I put him in there, and then it inspired me to see how, how devoted he was to doing it, at the time, it just, it just kinda lit a spark.

06:22 - 06:24
Christopher Hensley, RICP®
In me, now, I'm 49, so you're right.

06:24 - 06:27
Christopher Hensley, RICP®
I'm no Spring Chicken.

06:27 - 06:33
Christopher Hensley, RICP®
I, in fact, not only am I no Spring Chicken, I'm not an, I wasn't an extremely athletic person.

06:33 - 06:50
Christopher Hensley, RICP®
I was somebody that got picked last and PE and physical education most of my life, and then I just something, you know, something pointed me in this, It may have been, the, more than the competition aspect, because I do compete, but, more of just challenging yourself on a day-to-day basis.

06:50 - 06:55
Christopher Hensley, RICP®
And I think that drove me into Jujitsu.

06:55 - 06:59
Christopher Hensley, RICP®
Fast-forward five years later, my son Alastair, is no longer doing it.

06:59 - 07:01
Christopher Hensley, RICP®
He decided it's not as thing.

07:01 - 07:03
Christopher Hensley, RICP®
He never made it back after coven.

07:03 - 07:04
Christopher Hensley, RICP®
I can't stop.

07:04 - 07:08
Christopher Hensley, RICP®
I, you know, I, even though I took the break, I have to keep going.

07:08 - 07:11
Christopher Hensley, RICP®
It's one of the biggest stress relievers for me.

07:11 - 07:17
Christopher Hensley, RICP®
And it's just a really good thing in my life, So that's awesome that this is something that you're doing as well.

07:17 - 07:19
Christopher Hensley, RICP®
We're picking up here.

07:20 - 07:27
Christopher Hensley, RICP®
It may not be jujitsu, but this is a thing that that's for people that are successful that are doing stuff that this this seems to be a pretty good pattern.

07:27 - 07:28
Christopher Hensley, RICP®
They're welcome.

07:29 - 07:30
steve hamoen
Doctor Burke.

07:30 - 07:36
steve hamoen
And, you know, all the, you know, the greats of, you know, Industry are really jumping on board.

07:37 - 07:46
Christopher Hensley, RICP®
It's true, It's true it, and, you know, we've seen that if you've been doing it for 10 years, you've seen kind of how it's, it's just kind of ramped up, and it keeps going and going.

07:46 - 07:54
Christopher Hensley, RICP®
So that's, that's a huge thing, I'm gonna pivot for just a second, because I know we could, we could probably do a whole hour long.

07:54 - 07:54
Christopher Hensley, RICP®
Jujitsu.

07:54 - 08:02
Christopher Hensley, RICP®
I have to put some guardrails on myself, because I literally talk, I will talk your ear off on that.

08:02 - 08:13
Christopher Hensley, RICP®
So, but, now, going back to your podcast, your podcast, you often, to discuss overcoming challenges, What has been the biggest obstacle that you faced in your career and how did you overcome it?

08:14 - 08:39
steve hamoen
You know, I think there's been many, you know, one of the things that you try to identify what the biggest one is and, no, I started being self-employed back in 2005, started an HVAC business back then, you know, ran that for, you know, till about 2014 where I ran into some really tough customers.

08:39 - 08:43
steve hamoen
To 20, 12 to 20 14 who, you know, didn't pay their bills.

08:43 - 08:53
steve hamoen
And, you know, we ran into situations where with hyperinflation, and new materials quadrupled in value and cost, but my contract were fixed.

08:53 - 08:59
steve hamoen
So, you know, you have delinquencies, and you have overages, and then you have, you know, a lot of manufacturer defects.

09:00 - 09:01
steve hamoen
You know, it was a very tough time.

09:02 - 09:06
steve hamoen
Yeah, and so, I ended up shutting the business down at that point, you know, under duress.

09:07 - 09:11
steve hamoen
It was a wonderful business, and we were doing some of the largest has a candidate, 55,000 square feet.

09:11 - 09:13
steve hamoen
We'd be working on these are policies.

09:14 - 09:16
steve hamoen
So, technically was very good.

09:16 - 09:18
steve hamoen
But financially, it was ruining my family.

09:19 - 09:30
steve hamoen
And so when I shut it down, we're probably, you know, near just three quarters of a million dollars in the hole, at that point in 2014, when when it finally closed the doors.

09:30 - 09:35
steve hamoen
So I had to figure out what to do, and you know, I had two kids at the time.

09:35 - 09:37
steve hamoen
Like, my second son was just born.

09:37 - 09:46
steve hamoen
It was right around this time actually user's birthday yesterday and and so my luckily I have a landlord for my commercial location.

09:46 - 09:49
steve hamoen
She was a real estate agent, and she said Why don't you go real estate agents?

09:50 - 09:53
steve hamoen
Most real estate agents are slingbox, right?

09:53 - 09:56
steve hamoen
And she said, Well, Steve?

09:56 - 09:57
steve hamoen
I'm a real estate agent.

09:57 - 09:58
steve hamoen
Do you think I'm a slime ball?

09:58 - 09:59
steve hamoen
I said, well you're not.

09:59 - 10:01
steve hamoen
She said, well then you don't have to be one either.

10:02 - 10:03
steve hamoen
I said, OK, fine, I'll do this for a short while.

10:04 - 10:05
steve hamoen
That turned into 10 years.

10:06 - 10:17
steve hamoen
And, you know, my first year, real estate, I sold, I think it was around 43 houses in the first year of real estate, and so very real estate agent, that's that's quite a bit, But I was, I had a big Y, right?

10:17 - 10:19
steve hamoen
Like, I had a motivation, I had to get this thing solved.

10:19 - 10:27
steve hamoen
I paid off all my small suppliers first, paid off the government last, which, apparently, I should have done, in the opposite way.

10:28 - 10:32
steve hamoen
But, you know, my integrity, my integrity was, I, you know, I'm not going to sting.

10:33 - 10:34
steve hamoen
No botnet truck.

10:34 - 10:36
steve hamoen
And I'm not going to standardize, even though I got stung.

10:36 - 10:38
steve hamoen
I don't want them to feel the same.

10:39 - 10:41
steve hamoen
And so, integrity means everything.

10:42 - 10:48
steve hamoen
And so, got through that and, you know, fast-forward to today, you know, we own a bunch of properties.

10:48 - 10:51
steve hamoen
We got a couple of different businesses, you know, things are trucking along really nice.

10:51 - 10:59
steve hamoen
We have net worth rather than no net net negative and, you know, I think that's that's, you know, that's a hurdle.

10:59 - 11:06
steve hamoen
I mean, It's not as big as some other people's hurdles, but, you know, it's it definitely was one that that really, you know, you had to really work through it.

11:07 - 11:08
Christopher Hensley, RICP®
I love it.

11:08 - 11:09
Christopher Hensley, RICP®
I love it.

11:09 - 11:14
Christopher Hensley, RICP®
And, you know, I see a pattern with, with entrepreneurs that are successful there.

11:14 - 11:17
Christopher Hensley, RICP®
There's always a story like yours.

11:18 - 11:25
Christopher Hensley, RICP®
Not the same story, but like yours, where they've, if they've, they've had this big adversity and they've overcome it, and they've stuck with it.

11:26 - 11:29
Christopher Hensley, RICP®
So that is just to share with the listeners that huge.

11:29 - 11:30
Christopher Hensley, RICP®
Now, you're in Canada.

11:30 - 11:34
Christopher Hensley, RICP®
You mention that I'm here in Houston, Texas, and HVAC repair.

11:34 - 11:36
Christopher Hensley, RICP®
You know, we have to have your conditions here.

11:36 - 11:36
Christopher Hensley, RICP®
Right.

11:40 - 11:44
Christopher Hensley, RICP®
You know, Canada, I can see where that's a, that's a little bit of a different thing.

11:45 - 11:48
Christopher Hensley, RICP®
You got, It's got, it's colder up there, you actually have seasons.

11:49 - 11:53
Christopher Hensley, RICP®
Here, where it's just hot and a little bit, you know, we get a winner for like a week or so.

11:54 - 12:00
Christopher Hensley, RICP®
So, you know, one of the things that you, that you focus on in the podcast is mentorship.

12:01 - 12:07
Christopher Hensley, RICP®
How has your has mentorship shaped your entrepreneurial journey, and why do you emphasize it so strongly in your podcast?

12:08 - 12:10
steve hamoen
Know, it gives me chills when you say that.

12:11 - 12:14
steve hamoen
Because it's something that I didn't really think about when I was younger.

12:14 - 12:20
steve hamoen
When I first started in the wrestling and we're gonna go off on a tangent for NaN when I first started in the wrestler in high school.

12:20 - 12:24
steve hamoen
We didn't know, I didn't have a coach, I just wanted the wrestling.

12:24 - 12:25
steve hamoen
I went from one school to another.

12:25 - 12:26
steve hamoen
We didn't have a coach.

12:26 - 12:26
steve hamoen
I had to start.

12:26 - 12:28
steve hamoen
The whole program had to start everything.

12:28 - 12:28
steve hamoen
You know?

12:28 - 12:32
steve hamoen
I had a coach to come in and near the tail end of it, but it was It was.

12:32 - 12:34
steve hamoen
You know, it was it was hard to get things going.

12:34 - 12:35
steve hamoen
No, but once I had the coach.

12:35 - 12:45
steve hamoen
It went really well, and then when I ran into business You know, Mike had some we'll call them coaches, but unfortunately they were giving me a lot of bad advice.

12:46 - 12:53
steve hamoen
And so I would do things that were put my business in parallel Because the coach was driving me down a path.

12:53 - 12:54
steve hamoen
It was just the wrong path.

12:54 - 13:09
steve hamoen
And, you, if you look at that TSN turning point of 2014, when I was working with that, that real estate agent, you know, she, she told me so many things that I needed to be able to get that massive success quickly.

13:10 - 13:11
steve hamoen
Because they'll do that in one year.

13:12 - 13:15
steve hamoen
That you need to have somebody to give you speed.

13:15 - 13:20
steve hamoen
So, sometimes, coaches, I think, the first thing you're gonna do, and mentor is they're gonna give you speed.

13:20 - 13:31
steve hamoen
They're gonna give you clarity, They're gonna give you stability because they're going to hold you other accountable or they're going to show you the what not to do just as much as to what to do.

13:31 - 13:38
steve hamoen
I think so many times, you know, you have these coaches out there and they'll have a framework, But they're not going to show you really what to do.

13:39 - 13:49
steve hamoen
No, like, and they're not going to have a, you know, one of the things I love about brand to the honest is that, you know, I mean he just celebrated in their coaching and 50,000 coaching calls.

13:49 - 13:50
steve hamoen
Right?

13:50 - 13:51
Christopher Hensley, RICP®
Wow, That's a lot, They haven't.

13:51 - 13:54
steve hamoen
Recorded 50,000 coaching calls.

13:54 - 13:56
steve hamoen
Each of those coaching calls gets broken down.

13:57 - 14:06
steve hamoen
Now, you can imagine how fast those coaching calls are getting broken down now, given the fact that he's got AI to go through all of those coaching calls to start taking that apart.

14:06 - 14:08
steve hamoen
I'm not saying he's doing that but that's what I would do.

14:09 - 14:11
steve hamoen
Is, you know, to try to find where do people connect?

14:11 - 14:13
steve hamoen
When do people disengage?

14:13 - 14:13
steve hamoen
You know.

14:13 - 14:15
steve hamoen
Are people falling the system for success?

14:15 - 14:18
steve hamoen
Are they tracking up when they're engaging and down?

14:18 - 14:21
steve hamoen
You can get a lot of analytics when you do 50,000.

14:21 - 14:33
steve hamoen
Coaching calls, I think there's a lot of coaches out there that, you know, don't have that as a baseline, they don't have a framework for success and and they just, they're not going to get you to where you need to be.

14:33 - 14:35
steve hamoen
I think the mentor or coach, whatever you want to call it.

14:36 - 14:40
steve hamoen
I think they've got to have a system of success that you can, that they can say it's repeatable and relied on.

14:41 - 14:54
steve hamoen
No, because one of the things that Brandon Dawson who works with, with Grant Cardone says, I agree with this wholeheartedly, is that if somebody is going to give you advice, free advice is the worst, because it's, it's worth exactly what you paid for.

14:55 - 15:00
steve hamoen
No, but the next bit of advice is looking at saying, OK, well, have they done it?

15:00 - 15:01
steve hamoen
That what they're asking you to do?

15:01 - 15:02
steve hamoen
Have they done?

15:03 - 15:05
steve hamoen
No or can they reference somebody that they help do it?

15:06 - 15:09
steve hamoen
Because if they can't do that, then what are the cavalry coaching?

15:10 - 15:19
steve hamoen
I think a lot of people rely on people who are not in the business of what they're in, to give them advice and that can be very toxic.

15:20 - 15:30
steve hamoen
Whereas, if you get somebody who's that's the rhythm, that sort of thing, you know, That, My first post, Michelle, like, she was not, she would never call herself a coach or a mentor, where we were a business adjacent.

15:30 - 15:31
steve hamoen
Like, we're business partners.

15:32 - 15:34
steve hamoen
And so, But that's actually coaching.

15:35 - 15:40
steve hamoen
It was fantastic, Yeah, And she was very successful, so as to that, She's a beast!

15:41 - 15:42
Christopher Hensley, RICP®
I love it, I love it.

15:42 - 15:48
Christopher Hensley, RICP®
So that's a lot So let me unpack some of this stuff because as a solopreneur, this is a lot of really good information.

15:48 - 15:53
Christopher Hensley, RICP®
It is very Easy to you know, no, man is an island, right?

15:53 - 15:58
Christopher Hensley, RICP®
It's very easy to be a solopreneur and be out there floating by yourself, Right?

15:58 - 16:02
Christopher Hensley, RICP®
And you mentioned, you know, having a good coach they give you the clarity.

16:02 - 16:11
Christopher Hensley, RICP®
They give you the accountability and it may not know whether you want to call it a coach or a mentor or even put a label on it.

16:11 - 16:18
Christopher Hensley, RICP®
We we've all worked with people that have kind of shaped our path to success, right, and so this is this is huge.

16:18 - 16:23
Christopher Hensley, RICP®
And you mentioned even in your own Personal experience that this was a turning point, right?

16:23 - 16:28
Christopher Hensley, RICP®
So I think this is something that the, you know, takeaways for the listeners here.

16:29 - 16:30
Christopher Hensley, RICP®
So let me ask you this.

16:31 - 16:38
Christopher Hensley, RICP®
Could you share, maybe, a, particularly inspiring success story from your podcast, from one of your podcast guests.

16:38 - 16:40
Christopher Hensley, RICP®
That's resonated with you something that's stuck.

16:43 - 16:46
steve hamoen
There's so many good guests that I've spoken with.

16:47 - 16:55
steve hamoen
I'm going to pick 1 1 Fellow, just because, you know, one of the things that we're seeing is, in Canada, we see a very heavy amount of immigration.

16:56 - 16:59
steve hamoen
And immigration is a very polarizing discussion.

17:00 - 17:02
steve hamoen
In his, his story, I think, is a really great story.

17:03 - 17:10
steve hamoen
No, he came from India, Came to Canada, and, you know, he saw a situation where people were coming to Canada.

17:10 - 17:30
steve hamoen
They didn't really know how to, you know, find really good housing because in Canada right now, housing costs are skyrocketing and when you're coming over from from India, you might not have the wherewithal whether through your job or, you know, through what you're bringing to be able to support your family in the way that is classically able to be done.

17:31 - 17:33
steve hamoen
So, he created this business, it is called ....

17:34 - 17:46
steve hamoen
And he created this business that, you know, allow you to be able to co-habitate people in a house, in a way that it's beneficial is a win-win, both for the landlord.

17:47 - 17:48
steve hamoen
As well as for the tenants.

17:48 - 17:51
steve hamoen
Because a lot of times people think that's an adversarial relationship.

17:51 - 17:52
steve hamoen
I truly don't think it is.

17:52 - 17:58
steve hamoen
I think if you have a really good product, you've got really good people, it's actually it's, it's cohesive.

17:58 - 18:00
steve hamoen
They both rely on each other.

18:00 - 18:11
steve hamoen
And so in this situation, what he did is he created the environment or different immigrants to be able to rent out rooms in a house rather than rental the whole place.

18:12 - 18:13
steve hamoen
It was at a slight surcharge.

18:14 - 18:16
steve hamoen
So for the landlord, there's a massive benefit.

18:16 - 18:21
steve hamoen
Because you can take a cap rate of say, you know, say a five cap and put it up like an eight cap.

18:22 - 18:24
steve hamoen
You know, when you're looking at your, your property.

18:25 - 18:29
steve hamoen
But for the tenant, it gives a really good experience because they're able to move in.

18:29 - 18:31
steve hamoen
They have a sense of community.

18:31 - 18:35
steve hamoen
Know a lot of people think, oh that's crazy and say oh did you ever watch the show friends?

18:36 - 18:40
steve hamoen
Know like that's what that habitation nobody even thinks about.

18:40 - 18:42
steve hamoen
They're like yeah, OK, yeah, so Joey can do it then.

18:42 - 18:44
steve hamoen
Yeah, I can I can I can.

18:45 - 18:51
steve hamoen
You know, and so on this, so, you know, I think that was a great story and so he took something that was his personal experience.

18:52 - 19:00
steve hamoen
It in did it in a way that he could build a beautiful business around it and increase access for new immigrants.

19:00 - 19:06
steve hamoen
I mean, we'd have I think it was like 463,000 new immigrants come to Canada in the last three months.

19:06 - 19:13
steve hamoen
And while from an American perspective, that doesn't seem like a whole bunch, when you take the percentage of, you know, the population that we have in Canada that.

19:13 - 19:15
Christopher Hensley, RICP®
...

19:15 - 19:16
steve hamoen
Per capita is huge.

19:18 - 19:19
Christopher Hensley, RICP®
Well, that's that.

19:19 - 19:21
Christopher Hensley, RICP®
So that is a very good example there.

19:22 - 19:34
Christopher Hensley, RICP®
You know, unique business model using cohabitation for immigrants, I mean, we're here in Houston and so Texas, we, you know, the Hispanic population huge.

19:34 - 19:46
Christopher Hensley, RICP®
This is something that, that that could, you know, potentially work here is, well, What a great success story, because he himself was an immigrant and he came and he built this, was it called Hill tail?

19:46 - 19:46
Christopher Hensley, RICP®
What is.

19:46 - 19:46
steve hamoen
Delta?

19:47 - 19:48
steve hamoen
H a L L.

19:48 - 19:48
Christopher Hensley, RICP®
T.

19:48 - 19:49
steve hamoen
A L E?

19:49 - 19:49
steve hamoen
Yeah.

19:50 - 19:50
steve hamoen
Yeah, I.

19:50 - 19:52
Christopher Hensley, RICP®
Love the great liberal version.

19:53 - 19:54
steve hamoen
But, what was great?

19:54 - 19:55
steve hamoen
Is pivots, right?

19:56 - 20:01
steve hamoen
And so we period, one of the things that helped them with was pivoted the products so that you could create a white label.

20:01 - 20:08
steve hamoen
So real estate agents can create an ecosystem for investors and you know and get it so that the that it can get in the hands of more people.

20:10 - 20:11
Christopher Hensley, RICP®
Love it, I love it.

20:11 - 20:18
Christopher Hensley, RICP®
So there's niche marketing there, but then there's also the ability to pivot and adapt the systems that you're using in place.

20:18 - 20:19
Christopher Hensley, RICP®
What a great idea there.

20:20 - 20:25
Christopher Hensley, RICP®
You know, we only have four minutes before the end of the show and I feel like we just barely skim the surface here.

20:25 - 20:29
Christopher Hensley, RICP®
So you have been gracious enough to invite me on your podcast.

20:30 - 20:34
Christopher Hensley, RICP®
Listeners who here this would like to hear the conversation, continue you.

20:34 - 20:37
Christopher Hensley, RICP®
This is a sneak peek for that, so you'll be able to hear that.

20:37 - 20:44
Christopher Hensley, RICP®
But let it so since we're bumping towards the end of the show, I had a big question for you, which we may not get through the whole thing.

20:44 - 20:46
Christopher Hensley, RICP®
I wanted to ask you about bootstrapping versus funding.

20:46 - 20:48
Christopher Hensley, RICP®
You've covered.

20:48 - 20:48
steve hamoen
Stories.

20:48 - 20:53
Christopher Hensley, RICP®
On Bootstrapped Technology startups and funded ventures, and that sort of thing.

20:53 - 20:56
Christopher Hensley, RICP®
What are your thoughts on the best approach to financing A startup?

20:59 - 21:00
steve hamoen
Yeah, that's hard to deal with.

21:00 - 21:00
steve hamoen
And for me.

21:00 - 21:03
Christopher Hensley, RICP®
That's a big, big question, Yeah.

21:03 - 21:03
steve hamoen
And.

21:03 - 21:05
Christopher Hensley, RICP®
Give me an answer that's this big numbers.

21:06 - 21:11
steve hamoen
That's, I think you look at your growth model and and your ability to be able to scale.

21:11 - 21:21
steve hamoen
And if you're, for example, a real estate agent and you haven't proven out your methodology for being able to ingest clients, you don't know how you're gonna handle doing all the showings.

21:22 - 21:29
steve hamoen
You know, you might be able to scale to, I was able to scale up 43 ish, whatever in the first year, but I didn't, I didn't sleep.

21:29 - 21:35
steve hamoen
You know, so, if I would have dumped another million dollars in marketing behind that whole engine, I would have been floated.

21:36 - 21:40
steve hamoen
Because I didn't have proven models for success behind the scenes.

21:40 - 21:42
steve hamoen
So, I think, you know, when you're a tech company like The ...

21:42 - 21:54
steve hamoen
Company, for example, you know, that I'm getting, you know, now that they've got their systems in place and in the right, ready, I think they're able to start jumping in on financing to be able to create, to throw some money on.

21:54 - 21:56
steve hamoen
On a fact, I think it's like this.

21:56 - 22:04
steve hamoen
If you have a fire already burning, it's sustainable the wind's, not going to blow it out, dump some terracing on it, and that's what the money does.

22:05 - 22:12
steve hamoen
If you don't know, and the fire is really small, and it's sometimes comes in and goes out, that cares who might just flood it and just put the whole thing out.

22:13 - 22:15
steve hamoen
And I think that, that's how I look at the money.

22:16 - 22:22
Christopher Hensley, RICP®
That makes a lot of sense, and they were, were, were overlapping on topics that you've dug into a lot on your podcast.

22:22 - 22:26
Christopher Hensley, RICP®
And so, this is great for, for entrepreneurs, and business owners.

22:26 - 22:35
Christopher Hensley, RICP®
You know, one of the things that, you mentioned, that, you know, if, that, first year, when you got 43 houses sold, if you had dumped a million dollars of capital on that, you might have burnt out.

22:35 - 22:35
Christopher Hensley, RICP®
Right.

22:35 - 22:38
Christopher Hensley, RICP®
Or you said imploded and you hinted that.

22:40 - 22:48
Christopher Hensley, RICP®
This was because of not having those systems in place, and so you use the example from the business earlier that he's now got his business in place.

22:48 - 22:54
Christopher Hensley, RICP®
You talked about the ability to scale And so you won't be able to scale if you don't have these systems in place, right?

22:55 - 23:03
Christopher Hensley, RICP®
So this is all the These are all very good Actionable tips that listeners will be able to you know apply to their businesses as well.

23:03 - 23:11
Christopher Hensley, RICP®
We're right here at the end of the show, So we will have to hit pause on this conversation and you know, take it on to the to the show on Friday.

23:11 - 23:12
Christopher Hensley, RICP®
I think we're going to record.

23:12 - 23:12
steve hamoen
That.

23:13 - 23:16
Christopher Hensley, RICP®
But Steve for for.

23:16 - 23:17
Christopher Hensley, RICP®
What?

23:17 - 23:20
Christopher Hensley, RICP®
Have I forgot to ask you that you'd like to leave our listeners with today?

23:21 - 23:24
steve hamoen
Well, you know, I mean, there's so many things that we've talked about that are great.

23:24 - 23:27
steve hamoen
And I truly appreciate you having me on the show.

23:27 - 23:43
steve hamoen
You know, one of the things for me is, is you reach out to people when you're looking at your business, who can give you something that's tangible, burger's before you make a commitment, know, there's anything that, you know, in our space, there's a lot of people who say, they can coach They can help you.

23:43 - 23:44
steve hamoen
You know.

23:44 - 23:52
steve hamoen
If they don't, If they can't give you something that works for you, and it doesn't cost you anything, they're not going to be able to do it when they, they start billing towards you.

23:53 - 23:58
steve hamoen
So, work with somebody who gives you something first, and then when you're working with your clients, maybe use that as a same perspective.

23:59 - 24:00
Christopher Hensley, RICP®
I love it, I love it.

24:00 - 24:01
Christopher Hensley, RICP®
Great advice.

24:02 - 24:04
Christopher Hensley, RICP®
Steve, just write here in the last few minutes.

24:04 - 24:09
Christopher Hensley, RICP®
For listeners who want to find you online or connect with you, how would they go about doing that?

24:10 - 24:11
steve hamoen
Yeah, so, I've got to steve ...

24:11 - 24:13
steve hamoen
Dot com slash book.

24:13 - 24:21
steve hamoen
So, Steve, H a M O N, dot com slash B, OK, and that gets you a half hour of free time so you can.

24:21 - 24:26
steve hamoen
We can chat for a half hour and, and just kinda get to know you and see if it's something that we can help.

24:26 - 24:31
steve hamoen
My goal is in mission is to help companies grow their revenue by 30% in 90 days or less.

24:31 - 24:43
steve hamoen
And in that half-hour, I want to provide value for you so that you can walk away and say, Hey, if that was the last conversation, we hadn't got some value, but if you said we need some more than we can certainly chat about, if that's possible that we can do it together.

24:44 - 24:47
Christopher Hensley, RICP®
I love it, and we're gonna put that on the podcast notes as well.

24:47 - 24:52
Christopher Hensley, RICP®
So if you're listening to this while you're driving, don't feel like you have to stop, or you can go to the podcast notes.

24:52 - 24:55
Christopher Hensley, RICP®
And with that, Steve, thank you so much for being on the show.

24:55 - 24:56
Christopher Hensley, RICP®
Have a good rest of the day there.

24:57 - 24:59
steve hamoen
I look forward to seeing you at a tournament as well.

25:00 - 25:00
Christopher Hensley, RICP®
Oh, yeah.

25:01 - 25:02
steve hamoen
I love it.