In this episode, Kirsten Flory discusses effective strategies for building wealth, focusing on three key areas of income: primary job, long-term savings, and passive income. She emphasizes the importance of creating passive income through skills, online sales, and real estate investments. Kirsten shares personal experiences with utilizing home equity and refinancing, highlighting how to leverage home ownership for financial growth.

Key Takeaways:

• Building wealth is a common concern, especially among women
• Focus on three areas of income: Primary job, long-term savings, and passive income
• Passive income can be generated through skills, products, or investments
• Selling online is a viable way to create additional income
• Real estate can serve as a powerful passive investment strategy
• Understanding home equity is crucial for financial growth
• Asking questions is essential in the wealth-building process
• Refinancing can lower monthly payments and provide funds for investments
• Investing in a home can be a first step towards real estate investment
• Wealth building provides choices and opportunities for creativty and community support

Kirsten Flory is the President & CEO of Foundations Commercial Real Estate and host of The Small Business Mindset

www.kirstenflory.com

Jeremy Ames, CEO of Guidant Financial, shares insights on helping midlife entrepreneurs leverage retirement funds to invest in businesses. The discussion covers the evolution of Guidant Financial, the intricacies of self-directed IRAs, and the challenges faced by business owners. Jeremy emphasizes the importance of understanding financial options and the unique needs of clients looking to transition into entrepreneurship later in life. The discussion also highlights innovative business ideas the necessity of embracing uncertainty in the entrepreneurial journey.

Key Takeaways:

- Jeremy has helped over 30,000 entrepreneurs start businesses

• Self-directed IRAs can be used to invest in businesses
• Many clients are unaware of the potential of their retirement funds
• The business model evolved from real estate to supporting business investments
• Clients often have significant life experience and financial obligations
• The success rate of clients is higher than average due to their backgrounds
• Understanding the legalities of business investments is crucial
• Clients often combine retirement funds with other financing options
• The emotional and financial challenges of transitioning to business ownership are significant
• Many individuals feel unfulfilled in their current jobs but hesitate to take risks on new ventures
• Clients come with varying levels of readiness and understanding about business investments
• The gender disparity in entrepreneurship is notable, with more male entrepreneurs than female entrepreneurs
• Having greater cash reserves often correlates with business success
• Testing business ideas on a small scale can lead to significant opportunities
• Delegation is essential for business growth and efficiency
• Entrepreneurs must embrace uncertainty and be adaptable in their journey

Kirsten Flory is the President & CEO of Foundations Commercial Real Estate and host of The Small Business Mindset.

www.kirstenflory.com

Why do we need non-negotiables as part of our business? In this conversation, Kirsten Flory discusses the need for clarity on what one is willing to accept in client relationships and the significance of defining personal and business missions and values. The discussion also covers the necessity of having hard conversations, effective negotiation tactics, and the importance of trusting one's gut feelings in business decisions. These are valuable tools for entrepreneurs looking to create a successful and fulfilling business.

Key Takeaways:

• Non-negotiables are essential for a productive business
• Identify what you are willing to accept and say "no" to
• Respect and good communication are key in client relationships
• Get comfortable walking away from unfit clients
• Defining your mission and values is crucial for clarity
• Hard conversations are necessary for growth and resolution
• Negotiation requires confidence and calmness
• Integrity is vital in maintaining non-negotiables
• Trust your gut feelings in business decisions
• Be slow to hire and quick to fire when necessary

Kirsten Flory is the President & CEO of Foundations Commercial Real Estate and host of The Small Business Mindset podcast.

www.kirstenflory.com

How important is wealth and the impact it has on our lives? The need for individuals to assess their financial landscape, including assets and liabilities, and to adopt a mindset conducive to wealth creation is key (and the #1 reason why you aren't building wealth). Kirsten encourages listeners to ask the right questions and create a supportive environment that fosters financial growth. Listen in for actionable steps to help build your wealth effectively.

Key Takeaways:

• Understanding your financial landscape is crucial
• Wealth provides choices and freedom in life
• Get granular about your expenses to track spending
• Acting wealthy involves confidence and calmness
• Asking questions is essential for growth
• Create a positive environment for wealth creation
• Surround yourself with supportive and like-minded individuals
• Motivation can come from various resources and interactions
• It's important to track your financials progress
• Success in wealth building requires intentional actions

Kirsten Flory is the President & CEO of Foundations Commercial Real Estate and host of The Small Business Mindset podcast.

www.kirstenflory.com

Kelli Higgins, founder of Elevated Agent, shared her journey from being a real estate agent to creating a successful marketing company tailored for real estate professionals. She discusses the importance of niche marketing, the strategies she used to grow her business, and the significance of creating value for customers. Kelli emphasizes the need for efficiency through delegation and hiring experts to enhance business operations. We also discuss effective marketing strategies, including email marketing, and building a cohesive brand presence across platforms.

Key Takeaways:

• Niche marketing is crucial for standing out in a crowded market
• Creating value for customers enhances their experience and loyalty
• Streamlining focus on core tasks can lead to significant business growth
• Email marketing is a powerful tool for direct communication with customers
• Building a "sticky web" of marketing strategies keeps customers engaged
• Implementing the 80-20 rule helps prioritize essential tasks for efficiency
• Hiring specialists can elevate business operations and expertise
• Setting clear expectations for team members is vital for success
• Creating a cohesive brand presence builds trust with customers

Kirsten Flory is the President & CEO of Foundations Commercial Real Estate and host of The Small Business Mindset.

www.kirstenflory.com

In this episode, Kirsten Flory shares five essential tips for small business owners to boost profits and save time. She emphasizes the importance of working on the business rather than in it, identifying profit-generating activities, and the value of delegation and outsourcing. Kirsten also discusses leveraging virtual assistance to enhance efficiency and productivity, ultimately encouraging business owners to focus on their strengths and maximize their time for greater profitability.

Key Takeaways:

• Identify whether you are working on or in your business
• List all activities you do for your business
• Circle only the activities that generate profit
• Use the 80/20 rule to focus on key activities
• Delegate tasks that do not require your direct involvement
• Consider hiring virtual assistants for efficiency
• Trust others to handle tasks better than you can
• Ask questions and seek advice from others
• Streamline processes to save time and effort

Kirsten Flory is the President & CEO of Foundations Commercial Real Estate and host of The Small Business Mindset.

www.kirstenflory.com

Connect with Kirsten Here

Meet Nicole Perrone, host of The Billion Dollar Banker podcast, and expert in the field of mortgage banking. We discuss the dynamics of the mortgage market, the impact of the pandemic on housing, and the evolving trends of home ownership. Nicole shares insights on down payments, debt to income ratios, the impact of credit scores, and what first time homebuyers should pay attention to.

Kirsten Flory is the President & CEO of Foundations Commercial and host of The Small Business Mindset.

www.kirstenflory.com

In this conversation, we discuss the significance of customer experience in business, regardless of your operation al model. Having a clear vision, maintaining professionalism through your online presence, and the necessity of having a consistent message is key. Don't be afraid to niche yourself and your business, as well as creating recognition programs for both your clients and your staff.

Key Takeaways:

• Customer experience is crucial for business success
• A clear vision statement helps define customer experience
• Professionalism can be enhanced with a custom domain
• Consistency in messaging is key to customer recognition
• Niche marketing allows for specialization and expertise
• Recognizing personal milestones strengthens client relationships
• Authenticity in business interactions fosters trust
• Repetition of messaging increases customer engagement
• Building a professional connection goes beyond transactions
• Being unique and claiming your vision sets you apart

Kirsten Flory is the President & CEO of Foundations Commercial Real estate and host of The Small Business Mindset podcast.

www.kirstenflory.com