How to Build Massive Wealth the Blissful Way with Moneeka Sawyer: An EOFire Classic from 2021

0:01Boom! Shake the room, Fire Nation. JLD here and welcome to Entrepreneurs on Fire. brought to you by the HubSpot Podcast Network, the audio destination for business professionals with great shows like Billion Dollar Moves. Today, we're pulling a timeless EO Fire episode from the archives, so the giveaway may not be active, and we'll be breaking down how to build massive wealth the blissful way. To drop these value bombs, I brought Monika Sawyer into EO Fire Studios. Monika is the blissful millionaire. She turned 10K into 5 million, working five to 10 hours per month and hosts the top rated podcast, Real Estate Investing for Women.

0:40And today, Fire Nation will talk about confidence is so important because with it, you can handle anything that comes your way. We'll talk about asking yourself, who am I? And the fact that there are a million ways to make a million dollars in real estate. You just have to have a mentor to help you succeed in your way and so much more. And a big thank you for sponsoring today's episode goes to Monika and our sponsors. The Gold Digger Podcast, hosted by Jenna Kuchar, is brought to you by the HubSpot Podcast Network, the audio destination for business professionals. The Gold Digger Podcast helps you discover your dream career with productivity tips, social strategies, business hacks, inspirational stories, and so much more.

1:16One of my favorite recent episodes is titled, How I've Built an Unmatched Team Culture, an insanely important topic for all business owners to dive into. Listen to Gold Digger wherever you get your podcasts. We all want to live better, longer, and with LifeForce, weekend. Lifeforce is making proactive and personalized healthcare easier than ever. Start your membership today and receive$200 off. Visit mylifeforce.com to get started now. That's my, L-I-F-E-F-O-R-C-E.com. Monika, say what's up to Fire Nation and share something interesting about yourself that most people don't know. Hello there, everybody.

1:58Um, so something people don't know is my deepest passion is travel and my husband and I have been married 26 years and we have traveled to 60 countries together just for the fun of it to meet amazing people and experience lots of different cultures. Wow. That is super, super cool. And like myself and Kate, we always take this three month epic trip somewhere in the world every single year. Now we've been doing this for a number of years in a row. man, what are we going to do with traveling during these COVID times? It is so heartbreaking. Like seriously, I feel so cooped up. I want to see the world.

2:37I feel like there's an opportunity for Oculus Rift or some other like 3D virtual reality company to come up with like super realistic vacations and trips places. Cause like I would sign up for that. Like obviously I want to be in the place in person if possible, but I mean, if that's the second best option. So come on, Mark Zuckerberg, you own Oculus Rift. Let's get these virtual vacations going. Let's do it. But Fire Nation, today we're going to be talking about how to build massive wealth the blissful way. And what is this word bliss, Monika? What does it have to do with business? Thank you, John, for asking that question.

3:12So bliss, from my perspective, is a deep sense of joy and contentment and the confidence that you can handle anything that comes your way. So it's really about emotional mastery and emotional resilience. And so what does that have to do with business? Warren Buffett says, if you cannot control your emotions, you cannot control your money. So if that's true, bliss is an integral part of creating a business and wealth in a way that's sustainable. Fire Nation, wise words from Warren Buffett. For me, I've just gone done the book, the behavioral finance memo. And to me, like just really diving deep into that about how if your emotions are not in check, your finances, your investing is not going to be in check and how you Monika really use that and shifted it into blissfulness into business as well.

4:04Like I love this analogy. So let's kind of keep moving forward with this theme because I kind of shocked fire nation a little bit during the intro when I shared that you built a multi-million dollar business working five to 10 hours per month. And there was very little stress on top of that to go along with this empire that you've been building. So can we actually do this? Let's break it down for our listeners. Yes. So actually, this is one of those things. I think people, especially as entrepreneurs, right? We're on entrepreneurs on fire and we have this experience of being on fire, right? And we think that being on fire means we have to work really, really hard.

4:45That's kind of an entrepreneurial mindset. And I want to shift the paradigm so that people understand that working smart can create amazing results even more than working hard. So when we talk about working five to 10 hours a month, the first thing you have to do is set that goal. That has to be your intention, right? So that's the very first thing. The other thing is to work five to 10 hours a month, you have to set up your systems. So when I started, I wasn't working five to 10 hours a month. Let's be real, right? I had to set things up. There was a learning curve. I had to set up the systems.

5:22But if my intention was to work five to 10 hours a month, I set up all of that. I did all of that foundational work with that intention in mind. And so that's how I started. It only took about a year to get from working maybe five hours a week to working five hours a month. So step one fire nation set that goal set the intention. I mean again If that is your goal, like what is it? Is it maybe for you? Is it 20 hours per month? Is it You know five hours per day? I mean like what is that initial goal that initial intention you want? Because like that peter drucker quotes what gets measured gets results and that's so key So you have to be measuring things you have to be setting intentions setting goals And then of course number two and kate just gave a great presentation actually at a virtual event on this creating your systems.

6:06Because I can tell you back in 2012, everybody told me a daily podcast could not happen because it was just too much work for too little time in the day. Well, I figured out not just how to do it, but to do it one day per week. And then I eventually figured out how to do it two days per month. And why? Systems, Fire Nation. Systems, systems, systems. So, what does it take, Monika, to get started building wealth in this manner? So we talked about goals, right? For me, really the whole process of creating the systems and creating the goal and creating the strategy started with who am I? So as an entrepreneur, so much of the time we think, oh my gosh, this is a really cool idea or the market needs this thing.

6:51And you want to, you decide to build a business around that. That's backwards. First, you need to decide what are your values? What are your resources? And so when I'm talking about resources is what are your connections? What's your timeframe? Like how long do you have? And also how long do you have per day or week? Right? What financial resources do you have? Right? What emotional resources do you have? Like what's your risk aversion? Right? So you take, think about all of those things. You have your goals. Now you have your values. Think about your why. What's the reason you want to do this?

7:25And then you start to build a business based on those things because once you have a foundation, like you really know yourself, you can build something sustainable. And when things get rough and in any business, things get rough, right? You're going to continue to be able to be pulled forward almost like magic because you're really, really building that business based on who you are and what you're capable of rather than what other people think you should be doing. Fire Nation, ask yourself, who am I? And be honest with yourself. Like, what are your values? What are your resources? We're talking financial resources.

8:02We're talking emotional resources. And to kind of sum this up on a nice little bow, what's your why? Like, what is your why? Like, these are critical steps for you moving forward. Now, you have identified the most important factor to succeed in this business and this life that you have created for yourself, Monica. What is that factor? It is patience, which I know like as entrepreneurs, I don't know about everybody listening, but I know for me, that was a skill I really had to develop because any business is a long-term endeavor. And if you do not have the patience to ride the cycles, to learn what you need to learn, to make mistakes and get back on the horse.

8:53If you do not have patience, you're never going to succeed. Fire Nation, so many value bombs in such a concise and short amount of time. And if you think we're even close to being done dropping value bombs, you've got some other things coming. So stick around because we got some more coming up as soon as we get back from thanking our sponsors. I'm all about lifestyle freedom. I want to be able to do what I want, when I want, and there's no better time to kick your feet up poolside than the summertime. But to achieve this lifestyle freedom I speak of, you and your team need to work smarter, not harder.

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11:13Monika, we're back and you have built incredible wealth around real estate investing. Can anybody build this kind of wealth in the way that you did it? And if so, break it down for us. Absolutely, so anybody can do it. I just wanna preempt this answer by saying what you said earlier, John, which is, is this what you want to do? Do you only want to work that many hours? You know, is this the thing that you want to be doing? So once you decide that this is what you want to do, here's the one thing that I want you to really understand listeners is that real estate is the, it is the most intuitive business we can have.

11:55People need to have housing. You know, in the old days there was the Lords and the Kings, and then there were the peasants and all the peasants wanted the land and all the lords had it and the kings fought for it, right? Like this is the oldest way of making money. It's the oldest valuable asset, right? So it's the most intuitive business that we can have. However, you need to have a mentor. And I always say to people, there are a million ways to make a million dollars in real estate. So once you do the, who are you exercise, pick the one that you like, pick your goals, pick your strategies, set your systems, and then find a mentor that can help you to make it all happen.

12:38This business doing it this way is so, I want to say it's easy. It's not simple. In other words, it takes work, but it's easy. It's intuitive and anybody can do it. Fire Nation, you need a mentor. And for me, like looking back over my mentors and my journey, my best mentors have always been people who are currently where I want to be. So you need to find that mentor who is right now in that place that you want to be. So for instance, some people love to say, oh, if only Richard Branson can be my mentor. And I'm like, well, listen, unless you want to like run an airline right now, which is what he's doing, then he might not be the best mentor for you.

13:20Like you need to find somebody who is currently where you want to be. That's why my perfect mentor back in 2012 was Jamie Masters. She was a successful business podcast host. I wanted to become a successful business podcast host. So guess what? She was the perfect mentor for me because that was where I wanted to be. And I love that phrase that you use, Monika. There are a million ways to make a million dollars in real estate and fire nation. once you know your why, then you can start to identify what that next step is. So once we do, like how do we start to automate the business that we've created and keep it blissful?

13:55Yay. So automation equals bliss because automation means you're not reinventing the wheel all the time. You're not struggling. By automating, you take the struggle out of the business and then you're just learning and expanding, right? So I say automation is the a key to bliss. So how do we do that? Well, first, you're going to have a learning curve, you're going to start doing the thing, right? Whatever it is that you're doing. And as you do it, I you know, I am not a high tech person. I know a lot of people are like, Oh, I got to get the right CRM, I got to get the right processes, I got to get the right tech.

14:32I start with a piece of paper and a pen, or a Word document, right? And you just, as you're going through the process, you write down all of the steps that you went through. Then the next time you go through the process, you figure out how you did it better. And then the next time you figure out how you did it better. After doing it about three or four times, you're going to have a process that really works. That's really easy. You don't have to think too hard about it. You can pick up your manual for operation and just make it happen and make it happen well. So it's super easy. You know, get out there.

15:06Just be aware of what you're doing. Start taking some notes. And then you create the process that way. There will be a learning curve, Fire Nation. So just embrace that, step one. And I love how you really broke down that, hey, listen, you're not gonna get it right the first time, but you are gonna get a little bit better each time, just a little bit better, tweak, adjust, pivot. And there's a book that I always refer back to for these type of things. It's called The Slight Edge. And it's all about how you just make slight, minuscule, sometimes just imperceptible adjustments. And over time, it adds up to something.

15:40huge in the moments, in the day, in the week, in the month, it might not seem like much, but over time, over years, going back to that word patience that Monika said, that is where you see the massive impact. And I love that phrase that you use, a manual for operation. That's what it becomes Fire Nation. It becomes a manual for operation. Now, Entrepreneurs on Fire is such a smooth sailing system. I'm not going to have Monika get into it, but guess what? When she signed up for Entrepreneurs on Fire, guess what? She got an email with exactly what was expected of her, the headset that we wanted, exactly the things that we're going to be talking about today.

16:15She got reminders. She got this, she got that, all these different things. And guess what? That system was not like that eight years ago. It was not like that six years ago. It was not like that four years ago. It's just getting a little bit better every single day. And I'm still making improvements on it every time I find something or I need to make an improvement here. And then I just update my manual for operation. So So, Monika, we could kind of end in any different number of directions. But one thing I want to talk about before we start to wrap things up is looking back in your journey. I mean, you've just done some amazing things.

16:48And again, I really blew Fire Nation's mind with the introduction of talking about how you turned 10K into$5 million, working 5 to 10 hours per month. In Fire Nation, by the way, you got to check out Real Estate Investing for Women. That's Monika's podcast. That's where she talks about some more of these strategies and tips and tools and tactics in detail. So definitely check out Real Estate Investing for Women. But just give us one story, Monika. Like looking back to when you didn't have it all figured out, what was one turning point where you just point back to maybe it was a deal or a meeting or just an event?

17:24What is a story that you can tell us now of a turning point in your journey? I want to hear that. My real estate journey started when I was three years old. my parents actually came to this country with$200 in their pocket and dreams to make a better life for their family, right? So my dad started in real estate. He had heard that the golden ticket to wealth in the United States was to buy real estate. So they saved all their nickels and dimes. And when I was three years old, they bought their very first property. So this has been in my life, my whole life, right? And dad bought these properties.

17:58And then 15 years later, he paid for my college education through real estate. Wow. So when I graduated from college, I graduated during a recession. I couldn't find a job and I was completely freaked out. I didn't know how I was gonna create the money that I needed to survive as an adult, right? And the thing is that I did not wanna go to real estate. As a matter of fact, I had dug my heels in. I was like, no way, I don't wanna do that. And why? Because my dad was so committed to real estate, he just was gonna do whatever it took. So he dealt with the two o 'clock calls from tenants about toilets.

18:34He dealt with people having to be evicted. He dealt with all of those things that we hear from real estate investors that feel like a nightmare. They're definitely not blissful, right? And I knew that I wanted a blissful life. At that time, I wasn't calling it bliss. I just wanted to be happy. But I knew. See, the thing about real estate is it's a long-term endeavor. It was in my dad's life for a long time. I knew it was going to be a long time in my life. and I didn't want it to pull me down. So I was like, no, thank you. And I remember one day I was sitting with my dad at the kitchen table. I was freaked out.

19:09We were having this conversation and my dad said to me at that night, the thing that changed my life. He said, you know, Monica, everybody has stress, everybody has fear and everybody has money issues. Do you want poor people money issues or do you want rich people money issues? And you can imagine, I decided rich money issues was the thing I wanted, but we were going to mitigate the issues if we could, right? And so that's what started my path into real estate. Wow. Fire Nation, I hope you're inspired by those words as much as I was because every single day we make choices. And how are you going to make those decisions?

19:52How are you going to make those choices? And if you can do something that I know Monika does every day, because I can just tell with her personality and her energy and her vibe, if you can start with gratitude, everything falls into place. So Monika, we want to learn more about you. I mean, I've already shared how awesome your Real Estate Investing for Women podcast is. Let us know where we can find out more about you, any call to action you have for Fire Nation, and then we'll say goodbye. Sounds awesome. Well, first of all, thank you for that, John. This has just been so much fun. Thank you.

20:22Yay. So the first place to go is blissfulinvestor.com. That has everything. It has my podcast. It has my books. It has everything that I'm doing, my programs. Everything is there, blissfulinvestor.com. For your group, for your listeners, I would really love to offer an opportunity for them to sit down with me for a half hour and talk about how to build massive wealth the Blissful way. So if anybody would like to get on my calendar, please go to blissfulinvestor.com forward slash fire and you can get right onto my schedule and we can have a chat about how to turn your life into a blissful, wealthy life.

21:00Fire Nation, you're the average of the five people you spend the most time with and you've been hanging out with MS and JLD today. So keep up that heat. And if you head over to eofire.com and type in Monika, that's M-O-N-E-E-K-A into the search bar, her show notes page will pop up. And these are the best show notes in the biz. We're talking links, everything, timestamps galore. And by the way, you know how I just mentioned Fire Nation, you're the average of the five people you spend the most time with. Monika is giving you an unbelievable opportunity to spend more time with her. We're talking a 30 minute chat you can get on her calendar.

21:37This is so rare these days, Fire Nation, that people that are successful at her level are so giving and generous of their time. Take advantage of this. This is a call to action to you. Have a conversation with Monika. I don't care if real estate is the furthest thing from your interest list right now. You are going to get massive value having a conversation with somebody that's achieved this level of success. blissfulinvestor.com slash fire. Blissfulinvestor.com slash fire. Monika, thank you for sharing your truth, your knowledge, your value with Fire Nation today. For that, we salute you and we will catch you on the flip side.

22:14Hey, Fire Nation. Today's value bomb content was brought to you by Monika. And Fire Nation, I've created a treasure trove. I mean, a literal treasure trove of free courses for you. I teach you how to podcast, run a mastermind, create funnels that actually convert, come up with your big idea, and so much more. All you need to do is visit eofire.com slash resources to start learning today for free. I'll catch you there or I'll catch you on the flip side. The Gold Digger Podcast, hosted by Jenna Kuchar, is brought to you by the HubSpot Podcast Network, the audio destination for business professionals.

22:51The Gold Digger Podcast helps you discover your dream career with productivity tips, social strategies, business hacks, inspirational stories, and so much more. One of my favorite recent episodes is titled How I've Built an Unmatched Team Culture, an insanely important topic for all business owners to dive into. Listen to Gold Digger wherever you get your podcasts. We all want to live better, longer, and with LifeForce, we can. LifeForce is making proactive and personalized healthcare easier than ever. Start your membership today and receive$200 off. Visit mylifeforce.com to get started now. That's my, L-I-F-E-F-O-R-C-E.com.