Guest: Daray Olaleye- Lifestyle entrepreneur and business coach, powered by real estate investing; host of the podcast: Before the Millions
Website: beforethemillions.com
Instagram: @darayolaleye
Transcription:
Justin Stoddart
Hey, welcome back to the Think Bigger Real Estate Show. I’m your host Justin Stoddart, very excited today to introduce you a gentleman who’s done some really really impressive things. He lives in a city that I’m very fond of Houston, Texas. I’m going to introduce him here in just a minute. Let me just remind you the purpose of this show, it’s to help you think bigger. That’s the purpose of the Think Bigger Real Estate Show. I know that when I think bigger when you think bigger, something amazing happens is that our actions start to change, our results follow and then bada boom bada bing, what ends up happening is our impact, also follow suit and I’m thrilled and committed deeply to help anybody who listens to this have a life of deep impact. Today’s episode is going to be a special one because we have somebody with us today, is name is Daray Olaleye. He is out of Houston, Texas and his background is he’s actually a real estate entrepreneur and business coach. He helps people through the power of real estate investing, build their ultimate ideal life. So I want to thank Daray for being on the show. How did I do with you last name Daray? Did I do okay?
Daray Olaleye
Man, you hit that out of the park.
Justin Stoddart
I’ll give it an 8 out of 10, but thank you, but I defininately thank you for being here. For those that are curious about the Daray to see how how intelligent, articulate, and just generous this man is. His website is beforethemillions.com. If that doesn’t tell you enough about what a genius marketer he is. I love the name beforethemillions.com he helps people move in the direction of having the millions so he meets them before the millions. So impressive, my friend. Now you are also the host of a podcast. Let’s let’s talk about that a little bit. What’s the name your podcast?
Daray Olaleye
Yeah, it is actually called Before the Millions. So it’s all branded Before the Millions, so it’s really easy and simple to get to.
Justin Stoddart
Fantastic. So be watching for that. In fact, I would encourage you to go subscribe to that. Because the problem that we’re really going to solve today is that you as a real estate agent have a number of people that are in your sphere. Let’s say the average agent has anywhere between 250 and they 500 people in their sphere, and those people tend to sell a home every, let’s say, five to 10 years, and maybe they refer you if they’re really good maybe once a year, okay? Imagine this, those same people who use you fairly infrequently, are maybe very disgruntled in their job, they don’t love what they do. They’re tied to a big income, so they can’t necessarily get out of it. Right? They can’t necessarily just go do anything else, I’m going to move my microphone up here a little bit, that is gonna be better audio now. They can’t actually get out of their job, presumably, right, they feel a little bit stuck and what Daray has the ability to do is to teach these people to do something that is going to help them get the ideal life that they want number one, and to become a very frequent customer of yours, you’re going to help convert much of your database into investors. So anyway, before I go into any further, let me just thank Daray for being on the show today. I’m really excited to have you here and to delve deeper into this topic.
Daray Olaleye
I’m excited as well. And thank you for having me on this. And I cannot wait to hopefully add some value to your listeners. And I think that you bring up a very, very prominent subject matter. And I don’t think that most most agents kind of think about think about their business in terms of kind of how you laid it out. Now, let me ask you a question or the practice and when it comes to you, you you work with quite a few agents, whether you’re interviewing them, are you actively working with them in the business, but what would you say is the number one lead gen source for for agents these days,
Justin Stoddart
… their personal sphere.. you know, people add in all kinds of other methods, whether it be internet leads, not know, again, it’s different for each agent. But if you go to the businesses that have been here the longest, that are sustainable businesses, they’ll say that the majority or even their easiest business comes from their friends family past points.
Daray Olaleye
Yeah, and that angle, you’re 100% correct. I mean, that is that is that you hit it right on the head. I, I’ve spoken to many of agents, right and some of them really, really just now starting out in big faith. You know, you have this and it’s kind of a mindset thing. I’m glad I’m on the bigger podcast, because when you when most people enter an industry of answer a business, their first mindset is well, I don’t I don’t want to bother my family. I don’t want to tell my friends. Let me let me make it. Right. Let me let me get let me get a couple of deals at first and you kind of know family friends are kind of the last people that you may want to turn to. But as an agent, I think that um, you said it best, nice and most some of the most successful agents work their sphere like no man’s business. I work with an agent today and he literally gets 90% of his business off of referrals. So your sphere is a very, very, very key ingredient to making sure that that your your first mind when somebody wants to buy or sell their home. Now as for the investors, it’s definitely important for you to have an agent to work with. So you positioning yourself as an agent who does work with investors, they’re super invaluable. You know, I always tell investors like, I want to go find I want, I want you to find an agent to work with that works with investors, because they’re going to have certain courts and certain nuances in their system and how they go about doing things that a normal agent wouldn’t right there also also look out for agents who have investment property, because those guys for sure are going to be able to help you through that journey for just now starting out. So those are two quick tips that I want to give off to the listeners real quick before we kind of get into the meat.
Justin Stoddart
Yeah, no, I love that. Because, again, if you can start to look at your sphere differently, right? Oftentimes, people look at them as if, like, what are their real estate needs for their personal residence. And then the next step is, I want to be the person that they think of when they you know when, like when real estate comes up around them. And I think the invitation that both the ray and I are making to you is to look at everybody in your database as an as a potential investor and maybe someone who who does doesn’t like their career to the point where that’s all they want to do. You know, I had the, in my preparation for interviewing Grant Cardone I was listening to one of his other interviews. And he was talking to a gentleman who’s probably created the largest Airbnb training platform in the world, Brian page. And, you know, Brian, over the past couple of years has made $7 million on his Airbnb education tools. And I was like, That’s impressive. He said, You know, I’m obviously in the education business as well. But he said, you know, what’s, what’s far surpassed my education, businesses, my investing business. And I thought about that I was like, you know, the end of the day. You know, we all exchange time for money until we become an investor and our money starts to work for us. And I think when real estate agents who naturally get that right, they live that they, like many of them are investors, when you start to really take a strong stance of educating your personal sphere, about the power of being an investor. Now it may be an investor on the side of what they do or it may be them starting to position themselves as being an investor as the only thing that they do. I think number one it differentiates you from the rest of the real estate agents out there is that you’re not just here to market and sell the home that someone’s asked you to market and sell. But you’re educating people on a new and better way to live, which let’s go into them. You know, let’s talk a little bit about that journey. As far as your passion your coaching, is taking people from, like disgruntled employees of jobs or businesses that they don’t love, and moving them into an ideal life. And I want you to share this and as, as you share this, I want to invite my audience, right, many of whom are real estate agents to be thinking about what you can be learning from the ray in order to be teaching your sphere, similar principles. So Dre, please tell us why is it that you teach people what you teach them?
Daray Olaleye
Yeah, I think that that’s a beautiful question. A lot of it and I think this is something that stems from a lot of entrepreneurial journeys. A lot of it started because of my discontent. Right, I used to be a big for accounting. And I work about 70-80 hours a week for an accounting, firm auditing, auditing the financial segments of some of the biggest real estate companies in the world. So I wore a suit and tie to work every day, I would travel at the drop of a dime, that to me be in San Francisco for the next month, pack your bags on a Sunday, you’ll be there on Monday. It was crazy. They would be me. Again, some of this is going to sound good. A lot of this to me sounds bad. They I mean, they bribe you with food. Right? If you’ve ever been in the corporate side, and you get bribed with a lot of food, a lot of like fine dining and things of that nature. They want to step your face so that you continue to work. Right so I’m working from under that San Francisco trip I was working for maybe like 8am till about two 3am every single night so it wasn’t I didn’t even feel as I was in San Francisco and and you would think that you have the weekends off but you have to you have to meet deadlines. So Saturday and Sundays. Yes, we’re working both of those days as well. So Again, I was locked in a cubicle pretty much. If I was awake, I needed to be in that cubicle. And I’ve predicated myself on lifestyle design. Like I love to travel I love. I love trying new cuisines. I love being in different countries. I love going off sabbaticals, right. That’s kind of the vision I always had for my life. So when I entered corporate America, I was like, man, there’s so many restrictions. This this is this is this is this is not this is not what I thought this would be. Right? I had a life plan. Like I was told in college that I needed to go work for the biggest, baddest accounting firm in the world. I was told in college that by working 15 years I’ve become a partner, I’d stopped making half a million dollars a year. I was told in college that once I did this, I would be amongst the 1% of people. I’d be super successful and I’d enjoy my life. But a year into that process, I realized that they were totally wrong. This is the worst thing ever. I didn’t want to be here. I hated everything about my life. So naturally, as started to find a way out. But it wasn’t till one day a woman on a caller calling my guardian angel. But she had no idea what I was going to share no idea of the mental torment and the demons that I was facing on a day to day basis going into work. And we don’t have enough time to get into some of the things that transpired just but just not on a very bad situation. And my whole adult life I hadn’t read a single book, Justin not a single book, I tried to read them. What was that book I tried to read 48 Laws of Power. I just couldn’t stick to what I would read a chapter one at 18 at 1920. I just keep reading chapter one. I could never get through it. Like it’s so hard to read a book, right? But she handed me a rich dad poor dad for very first book that I picked up as an adult. And it was like the unspoken language that had been trying to speak for so many years. It was like it was like the manuscript to the life I wanted to live and just like you just handed me my entire life on a platter. Since then, I read about a book We covered over 100 books and I’m a book free and I think we just talked about some of the books in your book collection. I love books, right? But it all stemmed from that book. And it all stems from that discontentment and reading that book and kind of put myself in the mind and like a gave me a blueprint again it tell me exactly what school Rich Dad Poor Dad doesn’t do that. But it gave me the idea gave me the concepts to start looking for. Right. So when I started learning those concepts, I started trying different businesses start testing the market, I started figuring out how can I create my ultimate lifestyle design? How can I get back to traveling? Right? So while I was in corporate America, I did a little travel. I did a ton of travel for the company, but I wasn’t able to go abroad for a month, right? I wasn’t able to do the things that I want to do for the rest of my life. I was like, how can I get to do this? While I was mean, in this day and age, we have the internet. We have a ton of we have a ton of ways to operate our businesses solely from a laptop like we’re doing that today. Right? I have an educational platform, a six figure educational platform, and I do all the Gentleman, I could do that. I could do that from anywhere in the world and I don’t need to be stationary. But it didn’t start like that. Right? It started by creating six to eight businesses. Justin literally, I read Rich Dad Poor Dad. In April, I closed on my first property the very next month less than 30 days later, no real estate experience whatsoever. That’s how hungry I was. The next month I opened my first business was a drop shipping company the next month ultimate Kindle publishing company open the lead gen company like I started business after business, because I it’s like, I now had something to ankle. And I knew that one of these businesses and this is kind of a trap iPhone. So I knew that one of these businesses would hit.
Daray Olaleye
I knew that if I just stuck it out long enough, right? Because I was abandoned business on the head. Nothing about business and nothing about real estate. I mean, you would think and this is a common misconception with accountants, oh, you’re an accountant do my taxes. Till this day, I couldn’t do my own taxes. Like that’s not that’s not That’s not something that you’re equipped with as an accountant. So even as a, as a, as an auditor, auditing the financial statements of some of the biggest real estate companies in the world, I was still very great. So I opened up a ton of businesses. And I didn’t know that business is costly. There’s large marketing costs involved. So I have about eight businesses running, they are making literally zero dollars. And I’m spending thousands of dollars on marketing every single month. So I went from a disruptive employee to a disgruntled entrepreneur slash employee because I still had my full time job. So this is kind of the early stages of my progression. I started trying to figure things out. And I started trying to figure out how am I going to create the ultimate lifestyle design where I can be on any country, I can do anything I want. I can operate my business from a laptop and cell phone, and I can be fulfilled because I tell you what, Justin, when I was working at my big four accounting firm, I was working half of the year for the government. I was working the second half of the year for the bank. And the entire year I was working for a company and I wasn’t seeing the fruits of my labor. I was It seemed that direct impact that I was having on people, I wasn’t seeing the direct impact I was having on the companies that are auditing, right. So I’m just adding up numbers to make sure that they that they that they pan out, right. So I don’t really see the end goal, I don’t see the bigger picture. So again, I say I’m working half the year for the government because literally, almost half of our money goes to taxes as just solely unemployed, when you’re not a business owner, half of your money go to taxes. The second half of the year, I’m fresh out of college. So everything else is going to the bank in the form of student loans, car notes, if you have a mortgage or if you pay rent, I mean that all credit card bills, right? So the whole year, I’m just like, dude, like I’m working for somebody else. And then to top it off, I’m not even building a legacy for myself. And I was just like, this is the worst type of situation I could ever be in. I can’t I can’t see myself doing this for the next 30 4050 years. There’s no way I can I can see myself doing this for the next year. So I needed to figure out a way to get out of that conundrum. And that’s that’s why I turned to real estate. That’s why real estate, I believe in, people always say it’s the dumb man’s way the world. And I believe that because I’m not, I’m not the smartest in the bunch, but I figured out certain key concepts that really, really work. And that’s what I’m, that’s what we’re sharing today. And that’s what hopefully your audiences picked up over the course of time. And that’s what they’re continuing to hone in on as they kind of pursue the ultimate lifestyle design. Because at the end of the day, what’s the point? If it’s not for you to be happy for you to be able to provide for your family, for you to do the things that you want? What’s the point? Right, so that’s why my biggest premise is lifestyle design. And I’m glad that you asked me that garage that you touched on that because lifestyle design is super important for every single one.
Justin Stoddart
So friends, hopefully you’ve you’ve you’ve picked up on their people that you know, around you that are in the situation that the Ray was in, right life looks rosy from the outside, they’ve got a fancy job, working for a fancy company, get to travel for work, yet inside, they’re miserable, right? They’re not living like the ideal life that they want to be living and you can help them, right, you’re on the front lines of real estate. We talked about this before today that is that, you know, real estate agents, one of the key advantages that they have is that they’re literally like first to know about properties, right? Their first to know about good deals and and they they live and breathe the numbers of real estate so they can see good deals better than the rest of us can. And I think as you start to educate people, about real estate investing about the power of having your money work for you, as opposed to you always working for your money, you’re going to start to get some people that are going to come to you and they’re going to ask for mentorship, they’re going to ask for the help. And, you know, let’s talk a little bit about maybe a key step or two first thing that somebody could do to and I’m sure your coaching programs go, you know much more in depth on training people on how to be lifestyle entrepreneurs using real estate, but is there is there one or two quick lessons that you can share with people Either a mistake or an opportunity that a lot of people miss when it comes to getting started in being a real estate investor.
Daray Olaleye
Um, yes. So let me let me let me share an opportunity and this opportunity, maybe we’re going to go to a mistake as well, because I just thought up a few. But this opportunity lies where, where opportunity lies with most internet businesses. As a real estate agent, you may not think that you have an internet business, you may not believe that it’s an online business, but I beg to differ. I believe that you have an online business, or you can you can formulate it to be an online business, the backbone of most online businesses, the ones that are really profitable. Your backbone is not a Facebook group. It’s not Instagram, it’s not Google ads. Right? Their backbone is their emails. Okay. Most real estate agents, they may or may not have an email list but I guarantee you most real estate agents do not have a It’s a great follow up process, right? So I’m on big on systems, I’m less on like, hey, let’s see if this works. And let’s kind of like fly by the seat. What’s the I don’t even know the phrase. But you know, I’m big on having a predictable system month after month. So one of the things that I would definitely employ your audience to build is to create some type of system. And going back to an email list. When you have a, you know, it’s that typical, hey, I’m on the beach. I don’t have a whole lot of business going on this month, or you can be wherever, right? Maybe your goal is to close on two deals a month. Well, there’s a month that you’re falling short. But if over the past few months, over the past two years, you’ve been collecting emails, you’ve been interacting, you’ve been adding value to your potential clients. That month, you send out a one second email, right? They can literally these words have made me thousands and have made my clients thousands of dollars and tell you exactly what the email should say. Let’s hear it. DNB is called this called the seven word email. I don’t know if I’m going to get exactly seven words, but in the subject, and the subject would be something like, hey, or it could be like something like quick question. And then in the end the actual body, which is going to be like, hey, do you still need help with real estate? Right? So this is just a simple question. So your entire email list the list that you’ve been building, you’re like, what do I how do I build an email list? We’re collecting business cards at meetups, right? You’re hopefully you’re adding value on social media, people want to learn a little bit more value, there should be some way for people to find out more about you not just visit your website, there should be some type of intake process to where you’re collecting data. Right? Because again, you can create a Facebook group you can you can, you can do a lot of these things on other platforms. But ultimately, you don’t you don’t own those, but you do on your email list. So there is a value there’s thousands, if not millions of dollars and create a new email list and making sure that you’re following up with these people on least a month to month basis at least. Hey, how’s it going? Just checking up on things, make sure everything’s okay. Or, hey, I saw this white paper I wanted to send this to you. I thought this was interesting about your market, or hey, here’s a here’s a question. Do what do you what do you What’s your opinion again, sparking some type of interaction sparking some type of authority? And I love commercial questions like what should you live in your home that should be listed at market should do a slightly below market so that people can have a bidding work? Or should you listed above market so that maybe you get top dollar? Right and a ton of agents But no, don’t listed above market a ton of bonuses like listed at more. I mean, there’s no one right answer. But having having sparking that conversation. Again. You’re the authority, you’re creating that platform, you’re adding value to a ton of people and I would easily just simply get all those people to my email list and grow my email list from there. How have a client he’s actually in the process. He’s been growing as he knows from past six months, and he gets at least one or two additional clients per month. Just by having an email. So I think that that is one super secret, but also super relevant and everybody shouldn’t be doing that already super relevant opportunity, but that you guys can take advantage.
Justin Stoddart
You know, it’s interesting how much agents how much time and effort agents put on having these fancy HTML, beautiful newsletters that go out every month. And I think sometimes they’re red. I think a lot of times, they’re probably not. And I love the simplicity. It’s almost taking the methodology of a text message of like seven words, I do you need help, do you still need help with real estate? How many words that is, but that concept of just super quick and you could actually blast that out to everybody. And it feels very personal. Because it’s not this generic thing. You’re simply asking the question, you need help with real estate and it and my guess is your response rates going to blow you away compared to the typical stuff that you’re setting out.
Daray Olaleye
Exactly, exactly. Because it’s personal. It’s personal. You know, it’s one of those things to where even If I didn’t need help, I may respond anyways right as opposed to your your month your month I’m at and I don’t do those hey I there’s there’s a monthly newsletter there’s a monthly this like the way we talked about this before the call I had I had a call with somebody yesterday and he’s a he’s an agent quit his job prematurely which again, this happened to me so I can’t fault him. But he quit his job prematurely and he’s going about a deal a quarter. And not enough at whatsoever. I asked him about how he’s how he’s promoting how he’s how he’s how he’s getting out there how he’s spreading, you know, spreading his name. He’s like, yeah, I’m just, you know, contacting people. I’m going in groups and I’m telling them that I’m that I’m that I’m an agent that I’d love to work with in the fair, but thought about buying or selling and he’s consistent with that consistent, but yet and still, Justin, he has gotten zero deals from that he’s gotten zero clients from that,
Justin Stoddart
Which is about the equivalent of one quarter right and it’s not the cool enough, zero. Right?
Daray Olaleye
Right?! How about you turn it on its head? How about how about you take a different approach? You know, how about you take a value based approach? You know, how about you, you start going into groups, and you start actually helping people that that may or may not ever become client. So you go out and you go, and you go and create posts that are actually beneficial to the audience that you’re looking to serve. Right? Because it’s all about serving. Like, the only way you can get to where you want in your business is by finding ways to serve these people. So how can you serve your target demographic? If you’re going after sellers? How do you how do you serve a seller in the right way? What what are the sellers top 10 biggest concerns? Right? Um, how long? How much am I going to get? You know, what’s your fee? Right? I mean, that’s, that’s super, but it’s a secret, right? But if you can break down like, maybe like fee structure or how to how to how to get lower fees as a seller, like that’s something like ask yourself this question as an agent. What is something that I can give away that most other agents Would frown upon what is something that I can give away that most other agents would frown upon. And if you can give that away, if you can give that value to your audience, I guarantee you, you start trickling in some good business, right? Because it’s like, it’s not, it’s no longer Hey, I’m an agent, I can help. You’re not adding any value devices and authority. Nobody even knows if you’re reputable. And if you’re going to do a good job, but if you’re consistently adding value, and we’re certainly talking about the internet, right now, social media, but if you’re consistently adding value, it’s almost like a no brainer. Right? I think we talked about it before the call, like there should only be three outcomes. When somebody runs into your posts and somebody gets added to your email list, right? It’s either, hey, I want to sell my home, I want to buy a home. I want to work with you. Now. It’s D. I know, I know, somebody would be a great fit to work with now. Or it’s see, they’re going to think of you 346 months down the line when they’re in a coffee shop. And they’re talking to somebody who says, Hey, sell my home on your Fire Nation. You’re like, Huh, I know just the person. Right? That’s how much of a laugh The impact it should have on somebody, if you’re adding that much value, you will have that impact you really want around handing out your business card saying I’m an agent, we get those everyday, you’re not going to stand out from the crowd. And I think the best way to go about your business, especially online is to add value.
Justin Stoddart
And I could not agree more. I had a conversation with an agent yesterday, who’s newer, and I was like, how’s it going? And he said, I don’t see a lot of fruit yet. And I said, Look, you’re not going to Don’t be looking for it yet. You’re putting the roots right, we’ve all heard the story of the Chinese bamboo that spends years and years going roots underneath and all of a sudden, it goes up right? was interesting. I had somebody reached out to me and they said you are given away way too much information you need to like, charge for this you need to do and I told my said No way. You know, and, you know, thousands of thousands of downloads. I don’t know who’s getting my content. I don’t know who’s using it for free and like never contributing back. I don’t really care, right. I don’t really care. I hope that’s the case. I hope that everybody that listens gets value and their business improves. The reality is every time I do one of these interviews, every time I talked to a big thinker like you, Dre, I am a more, I’m a better leader. I’m a better consultant when I sit down my agents, I’m a smarter person to be able to help them with and it’s interesting just over the past couple of weeks, I’ve had agents reach out of the blue, to say, hey, I want to be in business with you. I don’t know who these people are, right? But they know me through the show. And for a long, long time, there’s been there’s been, you know, little fruit as far as what I do for a day to day job. But it’s working, it’s working before you can see that it’s working. And I think that becomes a critical component for all of us to realize is that you need to just be really comfortable giving away more value, then you’re seeing that you’re ever going to receive and just be totally comfortable that have zero expectation of getting anything in return. And once you start to do that, what will happen is it will surprise you as down the road and if you’re patient, that the value will start to return you’ll start to see the fruit of your labors, but it’s not gonna be right away.
Daray Olaleye
And I think you’ve touched on a great point when it comes to seeing that value seeing the fruit of your labor I work with a property property manager who manages people’s Airbnb units. And last week, he approached me just like the way I’m thinking about the way one of his one of his strategies is leaving Legion strategies. So let’s just say 70% of his Legion strategy is cold calling. And then 30% of his leads in strategy, our meetups. So just like the way like, I’m thinking about stopping the meetups, it’s a ton of value. And it’s really good. But I’m thinking about I’m trying to find ways to cut costs. Right. And let’s just say the meetup is about $200 to put the room into all this stuff. Yeah. And he’s like, I’m trying to find a way to cut costs. Well, okay, cool. So you’re considering canceling this meetup, whose idea to write because I think I beg to be able to save that extra $200 like put that time and effort into something else. That’s a great thought wave to have. But if you’re not tracking your metrics, which week he almost went ahead and cancel the meetups. And I’m going to explain this to you if you’re not tracking your metrics. He would if he was tracking this metrics, and I didn’t walk through this process with him, he would have easily cancelled for me to one of his most profitable lead generation sources today. Okay, so let’s just say he has 30 people go to his meetups, right 30 people turn into, let’s just say to clients, so ask them, what’s the lifetime value of a client? He’s like about 1600 dollars. Okay, cool. So if every time you have a meetup, and you’re getting 30 $200 worth of value, how do you now feel about the $200 you’re spending to make sure that these meetups happen because I never thought of it that way. I said, Hold on really quick. And so what about your cold calling, because I want to make about 400 calls during the lunch break throughout throughout the week, and then we add it up his his, his the cost that it took that it takes for him to get to those 400 calls and to get clients and we ultimately long story short, ultimately we find out that it was more powerful. Right for him to keep hosting these meetups, in fact, maybe even host an extra one a month, because he knows his metrics, because he’s tracking with numbers, right? So it’s just like do like, no, like, don’t stop this actually double down on this if you can do one a week, right, because this is more profitable than anything else that you’re doing. But he wasn’t thinking of it that way. He was thinking about man after Dr. There was going about all the costs of taxi ran out the place, he was thinking about the hassle, right? And at the same time, we added, we added up when we follow his metrics, and his metrics told us exactly what to do. So as much as it’s like, hey, like, I totally support Hey, working until it works, but all through that time needs to be tracking what’s going on. Going back to the corporate media, like social media, we think of it me personally, Justin, I’ve thought of social media as an afterthought in my business for a long time. It was just like, yeah, I mean, social media is a game like that time for social media, like really have more important things to do. Right? That’s how it’s how it’s always how it’s Then. And then, as of late, maybe like the end of 2018 to 2019. I’m like, dude, like, most of my revenue comes from social media, I need to start treating it like this The stepchild, like social media is the business. So let me start tracking it, how I track everything else. So yes, a social media post an Instagram story of what I’m doing, like it sounds like frivolous, but it’s really not. And if you start tracking social media, like you track everything else in your business, you’re going to be able to start creating results in your business how you want, because again, if this, this mastermind member knows that, hey, if he spent $600, he’s going to make 3,200 every single time he spent those $200, just like clockwork, because he knows that right now. Now he’s looking at his goal to escape the rat race. He’s looking at us go to quit his job not as a pie in the sky goal. Like once I get to 30 clients, I’m going to do that. Now. It’s more about once I hit 10 months, because I know in 10 months, I’ll have 30 clients. It’s much more visceral, like it’s tangible. It’s like I know like this is these metrics rather than, well, we’ll just see what happened looks like it’s a 30 can take three years, right. But if we know the metrics, we can really start to create our destiny. I think tracking your metrics, even in the early stages, even when you’re just now putting out a whole lot of value in the year, I haven’t seen anything hit yet. And you feel like it’s a waste of time to have these Excel spreadsheets, even in those stages is super, super important. So that’s, that’s one valuable tip I can give to your audience.
Justin Stoddart
You know, I think you’re the perfect guy to be teaching this to having come out of a big four accounting firm, a guy who loves the numbers, and I’m sure it was very systematic what they did, right, it was very intentional, what your company did, and there’s no doubt that that skill set and that mindset that some of which you brought to the table and others of which you were taught at the table. Now you bring into teaching and coaching, you know, lifestyle entrepreneurs, people that are want to live the life that they want to live as a result of real estate. I love what you’ve shared. I think there’s tons of value there. And being really clear reminds me of a business planning session I went through with an agent and again kind of mapped out where Is your business coming from and she was putting a lot of attention a lot of resources into stuff that wasn’t like these open houses that weren’t, were producing through, went back to her sphere and specifically the business lunches she was having sort of her business coming from and just by having that conversation, she was like, I’m able to reallocate my time get back in my own living room on the weekend as opposed to someone else’s living room, hoping that people are going to come by and and spend business, business day lunches with people that I already like and appreciate from my previous profession. And those are producing all my business it was this, this slight pivot in this conversation that allowed her it really opened up big opportunity for her to reallocate her resources. So I’m 100% in agree with what you’re saying, once you know the numbers start to treat it like a real business. Amazing things start to happen. Great. I would love to spend more time with you. The problem is we’re running out of time and I’m going to I’m going to extend right now an invitation for you to come back at some near future date because I just think you’ve got a ton of things to offer. And I’m so appreciative that you were willing to come on to the think bigger real estate show important to all of us. I want to I want to end with a signature question. You’re obviously a big thinker. You’ve created lifestyle freedom for yourself, and now you’re doing it for other people. What does a guy like you do can do to continue to be a big thinker to continue to expand your own possibilities?What does that look like for you?
Daray Olaleye
That is a great, great question. Um, and I will say that the power of you know, they always they always talk about the your sphere of influence. And you’ve touched on that a few times on this episode. But the power of the five people around you, I mean, it’s it’s cliche, but it’s so true. I remember reading a thinking of a rich for the first time a few years ago, I read it like, probably twice a year these days. But I remember thinking, reading that book A few years ago, and there was a concept in that book. I don’t know if a lot of people remember it. But there’s a concept in that book where Napoleon Hill talks about like an invisible mastermind, like it’s not even like a real mastermind, like we talked about today. Like we’re in masterminds and things like that, but it’s like a mastermind in your head. I found that concept really intriguing. And I actually follow through on that. And that there are certain people that you look up to, in the industry that you’re in, or people that you want to model them, you want to, you want to take one or two or three things from their business or from their lifestyle and implement that in yours. Right? And as you go through your journey as you start to make some of these business decisions, you’re not alone. So first and foremost, if you don’t have a coach or a mentor, if you’re not in a mastermind, get both of those things done ASAP, right. But at the same time, not everybody that you look up to not everybody that you you you would you would glean knowledge from is going to be somebody who you’re going to be able to hire is going to be somebody that’s going to be able to work. So I do this to this day, even though I have a ton of paid, paid and paid coaches that coach me I have a ton of people who coach me and have no idea who I am. Right so I’ve created like a mastermind of six people in my head in my head Justin of six people who whenever I have a whenever I’m in the middle of a fork in the road, I have a business question. I’m just like Like, what would what would How would a quick react to this right? Or what would Grant Cardone do in this situation? Right and I don’t know Grant Cardone, I’ve never spoken to him. But I’ve listened to his content so much. I’ve read all of his books to the point where it’s like, I know exactly how Grant Cardone respond in this situation. And I get grants feedback, and I get this other person’s feedback and I get this other person’s feedback and ultimately, I be able to make a decision from there without consulting any real people. It may sound like fluff but is a very, very powerful concept. Right, the power of masterminding in itself with actual people, which I do on a daily basis is phenomenal. But we are able to create that mental mastermind it really helps you think through your business decisions. Um, and I totally totally lost where we where we started, but I got so passionate about that question. That’s why that’s,
Justin Stoddart
That’s honestly an answer. I’ve never heard and I appreciate you saying that because I forgot about that part of the book, but you’re right. He goes through exactly what you articulated, which is you can have a group of people who are you’ve never met before. But you study them to the point to where when you have a question you go and say what would grant do right? What would Gary do what would you know? What would these people do and and allow their advice that you’ve gleaned through reading their books, listen to their content, advise you and guide you. And what a powerful What a powerful thing you’ve shared with us today. Right and and so many other things and I’m, I’m very very appreciative of your time the expertise that you bring, happy to consider you a friend I was telling Dre before I lived in Houston for six months one of the things I love I didn’t necessarily have the climate but I absolutely loved it the people and the right you fit right in with my you know, with my memory of just the caliber of people in that in that city. So so thank you for reinforcing that to me and for for pouring into the thing for your real estate show today. Now the best way for people to find you today is just on your website beforethemillions.com
Unknown Speaker
Perfect, perfect. I love I love social media as you can tell so you can also find me on Instagram. My Instagram handle is @darayolaleye or if it makes it makes it easier for you: beforethemillions.com/Instagram.
Justin Stoddart
Okay, I love it man. Thank you so much. Good here I want to point out to Justin Bosak who’s a buddy of mine out of New Jersey making some comments here “Big things from big thinkers”… “Great accountability.” Also a good points appreciate a Justin for your comments today. Appreciate you, man and all you do for the show and we’re gonna end with these three simple words that is a charge and an invitation to each and every one of us, which are Go Think Bigger. Thank you for your time that a total pleasure look forward to having you back at some point in the future.
Daray Olaleye
Thank you, Justin. It’s been a pleasure. I mean, it’d be an honor to come back on your show. I love the work that you’re doing. I told you this before the show that a lot of a lot of people are in business to make money to provide for their family but it’s the people like you and I it’s people like you Justin who have this giveback component, like you said mentioned so well on the show you have this giveback component. It’s those people who really drive and it’s those people who really help the masses. So thank you for what you do as well. Just It’s truly inspirational.
Justin Stoddart
My pleasure, man. My pleasure. Thank you.