Episode 180: “Navigating Change and Achieving Profitability: A Real Estate Journey with Profit First”
Profit First
May 10, 2023
In a regular 9-to-5, affording to travel requires so much more than just money—you need to have the time and energy for it. This is why traveling is one of the many reasons people begin as investors in the first place, with its promise of financial freedom and passive income. If you’re one of these investors or are someone who wants to expand on their lived experiences, this is the episode for you.
Our guest today is Shane Mahoney, founder of Lugos Travel, a luxury travel company focused on providing authentic experiences at travel destinations. In this episode, we will discuss how you can reap the rewards of your ventures and enhance your travels beyond the beaten path. Tune in!
Key Takeaways:
[00:36] Introducing Shane Mahoney and His Background
[05:38] The Scope of Lugos Travel’s Offer
[19:18] On Lugos Travel’s Standard and Platinum Tours
[25:32] Expanding on the Fees and Plans
[31:27] Connect With Shane Mahoney and Lugos Travel
Quotes:
[05:31] “Experiences that change people’s lives…that’s been our goal for the last 12 years.”
[06:53] “I’m going to charge you for my time and expertise. In exchange, I’m gonna work to make sure that your tour is designed around everything that you know and love.”
[10:56] “I know what it was like to be a busy professional, to have like absolutely no time to plan things, but still want a great vacation.”
[27:01] “So here’s my concern—If you come back from Paris from my tour, and your stories are exactly the same as the people that went to Paris, I have failed.”
Connect with Shane
Website: http://shanemahoney360.com/
Tired of living deal to deal?
If you are a real estate investor or business owner who is tired of living deal to deal, and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. – David
Transcript:
Dr. Sheri Fluellen:
Do it now, don’t wait. You don’t even have an investment yet. Understand what you will be getting into, get your account set up, even put a dollar in them. Do it now because the longer you wait, the more complicated it gets to try to undo what you’ve already done.
Speaker 2:
If you’re a real estate investor who’s sick and tired of living deal to deal, then welcome home. Hear from everyday real estate investors just like you, and discover how they’ve completely transformed their business by taking a profit first approach. This is the Profit First for REI podcast, where we believe revenue is vanity, profit is sanity. It’s time to start making profit a habit in your business. So here’s your host, David Richter.
David Richter:
We have Dr. Sheri Fluellen on this episode, and this was an awesome one. She tells about selling one of her businesses in 2019 and the things she learned through that process, the emotional ups and downs. She also talks about how when people have money and when they have businesses, how they tie so much to that and how do we get out of that cycle so that way we can actually achieve what we want to and be happy the whole journey and not have to go ups and downs and just feel like we’re on the mountaintop and the valley all the time. Thought there was a great point in here. I hope this helps you tremendously. Thank you so much for listening. Appreciate you and enjoy the episode.
We have Dr. Sheri Fluellen here. I am super excited because I met her, I believe it was at Funnel Hacking Live. I think we might’ve gotten a call last year with each other, but then we met each other in person. And I love that because we were at a Russell Brunson event, which also makes me think she likes marketing and investing in herself and other stuff. So she is a powerhouse in the real estate coaching and the just helping people get to where they need to be, bringing out your full potential.
So we’re going to talk about that on the episode here. But she’s also a Profit First fan, so that’s why she’s on here and she’s implemented it. She has a real estate investing business with her husband. She’s got the book right in front of her. You can’t see it if you’re just listening to it, but it’s right next to her, Profit First for Real Estate Investing. Sheri, welcome to the show.
Dr. Sheri Fluellen:
Thank you so much. It’s my privilege. Can I tell you a little story about when we met?
David Richter:
Yes, please.
Dr. Sheri Fluellen:
At Russell Brunson’s. So did I recognize you or did you recognize me?
David Richter:
I think I recognized you.
Dr. Sheri Fluellen:
I think so. Which was like blow my mind that somebody would approach me, that I’ve read their book and I absolutely love it and I’m working on implementing it every month. So we were talking outside of the venue waiting for the doors to open, and my husband was with me and I was standing there and I had an episode of vertigo. I don’t know if you knew that.
David Richter:
Oh, right. I remember that you were having that.
Dr. Sheri Fluellen:
Which is weird. I think that was the second or third time in my life and the first time it happened a month ago. So I was standing there talking to you. I’m excited, and all of a sudden everything started spinning and I had to do everything in my power to try to stay focused on what you were saying and to not look like I was crazy while this thing is going on in my brain. So that was the most intense conversation I’ve had in a long time because I wanted to be so present, but I wasn’t. Anyway, it was weird.
David Richter:
Oh, man. Well, you definitely put on a good face. Because I remember you saying something about it because I think we saw each other the next day or later on that day. And then you mentioned, I had a bad bout of vertigo, but then yeah, you carried yourself well. So I had interacted with you before, so it was cool seeing you at the event. I love running into the real estate people out and about, especially when it’s not an event that you’re coordinating to go to and it’s like, oh wow, you like the same stuff. So that was pretty neat. But yeah, I guess let’s dive into a little bit because you’re also a doctor. You have your psychology degree and you’re a psychologist as well too, correct?
Dr. Sheri Fluellen:
Yes. So I got my degree back in 2007. A quick story. As soon as I graduated, I actually joined the Air Force and was an Air Force psychologist for about five years.
David Richter:
Thank you.
Dr. Sheri Fluellen:
You’re welcome. Amazing experience. But I knew that wasn’t a long-term thing. I was having a bunch of babies and it was helpful to have TRICARE while I was in the military for all the births and all that sort of stuff.
David Richter:
Okay. Yeah, that makes sense.
Dr. Sheri Fluellen:
Yeah, but I’m an entrepreneur at heart, so I knew that I needed to leave the military and start on my own. And so I started a private practice as a psychologist and grew that for about nine years and then sold it back in 2009. Not 2000.
David Richter:
Was that a good sale?
Dr. Sheri Fluellen:
- Sorry.
David Richter:
- Okay.
Dr. Sheri Fluellen:
Yeah. And shifted into coaching and kept kind of been doing that since. But my husband and I started real estate investing back in 2007 as well. So we’ve been doing it for about 16 years. So kind of doing all of those things at the same time.
David Richter:
That’s very cool. So I’ve got a couple questions. Number one, was it a good sale in 2019 or was this one of those ones where it’s like, I’m just glad to be done with this. Let’s go to the new stage of life. Get real here.
Dr. Sheri Fluellen:
So you know what, David, nobody’s ever asked me that question and I’m laughing-
David Richter:
I’m going to ask you some of those, yeah.
Dr. Sheri Fluellen:
Those last three years were brutal.
David Richter:
Okay.
Dr. Sheri Fluellen:
Just to lay it all out, I had built over a million dollar a year income in this practice. It was going really well. And when you get to that point, you’re, man, this is amazing, this is sweet. Let’s take it to the next level, which means replacing me in the business, starting to do [inaudible 00:05:43]. So I did that and I did it poorly. I hired two people that I thought were really good. I did not have enough oversight, and they both independently, but simultaneously tanked the business making decisions.
I think the one gal had a personality disorder, which I never saw, but all the other therapists saw. The other gal who is actually running the finances if you know anybody that’s listening that knows anything about a medical practice, we rely heavily on insurance payments and she wasn’t refiling insurance payments that would come back denied for silly reasons. And so everything exploded within the course of a year, and I did my best to try to fix it and do all that stuff, and it just didn’t work. So yeah, I sold it because I was emotionally burnt out financially. It was just not where I needed it to be, and I was like, I’m going to at least going to sell it when there’s still something left to be sold. So that is the real story.
David Richter:
Okay. Because yeah, and whenever I hear that now, because I’m more in the financial world, I’m, is this a good sale or was this, you wanted a monkey off your back and you wanted to get that out of there? So I guess, let me ask, because it sounds like at the end, even a monkey off their back is a good sale, getting it out of your life. Let’s move on. But since that sounds like a very emotional trying time of your life, what were some of the lessons that you took away from going through that experience?
Dr. Sheri Fluellen:
I would say the number one biggest lesson… So first of all, I was really resistant to letting it go because I consider myself a recovering perfectionist. I grew up in a very functional, high level family. My parents are amazing. My siblings have done amazing things. I, at that point, had done pretty well. And so it was really hard for me to wrap my brain around this perspective that I felt like I sucked. I suck. How could I have let this happen? So there was a lot of beating myself up.
So because I am a perfectionist, recovering now, but I was, selling it, closing it, any of those solutions felt like I was giving up. And I’m, I’m not one that gives up this. That is not who I am. That’s not how I identify. And so it was really a big challenge for me, but I was able to make it this pivot that this isn’t giving up, this isn’t a failure. This is a lesson to be learned. Anything I do going forward is going to be significantly better because I have such rich experiences from this. Plus, I did run a successful business. There was a couple big mistakes, but I knew how to get it going. So it was really the shift in my own brain that I didn’t suck, that I wasn’t a failure, but rather how can I use that as a stepping stone in the path of learning.
David Richter:
Yeah, that’s really good because I think a lot of people at some points in their life go through that no matter if it’s selling a business or going from W2 to being a business owner, it’s like, I’m quitting one thing to start another. Yeah, I’ve got some of that head garbage from my past of, you should never quit, quits, not in the dictionary, cut it out of there. And it’s like, well, it’s not serving you, and it’s not serving other people. It might be time to move on to what the door’s opening next, but I really like that because what you go through, because I feel like a lot of people go there. They feel like they suck, they feel like they’re just worthless and all that. So no, I appreciate you opening up there because I think a lot of people can identify with it.
Dr. Sheri Fluellen:
When you live in that world of I suck or you suck, or we all suck, you are short-changing your ability to have a contribution in the world. I firmly believe that there is something that we are uniquely capable of offering to the world. And if I keep myself in the position, in the mindset of lack of confidence and lack of ability, then I’m not going to be stepping into what I can really do and what I can really contribute. And I see that gap of who I am and who I want to be. I see that gap in so many people. And having that gap, I think that’s human. That is being human.
Never is a little bit of a strong word, but I think very rarely does somebody actually achieve their potential. But that’s normal. That’s not a deficit. We’re just on this journey of trying to be the person that we aspire to be. And so a lot of times that we see that discrepancy in who we are and who we want to be as wrong, bad, it says something about ourselves. And so really helping people understand, that’s okay, let’s step into that, own it and continually be intentional in life to build yourself and to be the person that you want to be in the real estate space, to be the kind of investor that you want to be that owns X number of doors or has certain number of net worth or just has the income that you can have to replace your current income so that you can spend more time traveling with your family or doing the things that you really truly care about.
David Richter:
Yeah. No, that’s really good. So then this begs the question, why did you get your psychology degree? Was that something that you’d always wanted to study or what now? Because as I get older, the more I realize how important psychology is and how much it affects everything in life. So how did you get the want to get that degree?
Dr. Sheri Fluellen:
So it’s really interesting. I definitely consider myself to be a very thoughtful, logic thinker, but there have been these moments in time where I make a snap decision and I just do it, right? It’s weird. But I just consider that, well, that was kind of what my path needed to be. And so that happened with my decision to go into psychology.
So in high school I was part of this architecture drafting class, and I love art. I’m a very creative person. And so I went into architecture. And so I started out college in that program. And then I found out it was a five-year undergrad program, not a four year. Right? And I’m like, I’m not going to go to school for an extra year. So I backed out of that program and I spent a couple months figuring out. And in my mom, love my mom. She was like, “Sheri, back when you were in high school, you said something about being a therapist or something like that.”
Because I had some teenage angst. I had some challenges emotionally. And I remember telling my mom at one point that I’m, man, I came through this okay, wouldn’t it be cool to be able to help other people like that? So she reminded me of that. I’m, oh, okay, well, I’ll just do psychology. It was that simple. And of course, I didn’t think through the fact that I was giving up a five-year degree in architecture for a 10 year.
David Richter:
That backfired.
Dr. Sheri Fluellen:
It did. Four years undergrad, two years Masters, four years [inaudible 00:13:17]. But still, that was the journey. I was just like, okay, I’ll do that. And then as I got into it, I enjoyed it, and then I was, oh, I need to take the next step, oh, I need to get the next degree because I love school, quite honestly. So that was kind of the story about having no regrets.
David Richter:
Right. Doesn’t seem like you do from how we’ve talked, but then it also seems like that’s helped you a ton for what you’re able to do with the business that you’ve had in the past and what you’re doing now too. So how does your psychology degree work into your coaching and that? Do you go into mindset? Just give a little bit of that. I want to know what it’s helping you with now.
Dr. Sheri Fluellen:
Well, first of all, let’s talk a little bit about what coaching is, because a lot of people call themselves a coach. Sometimes I make a joke, you can’t throw a stick without hitting a coach. Because everybody’s, I’m a coach, I’m a coach, I’m a coach. So one of the things I think is really important if people have received coaching or considering it, is really dig into what is the competencies that your coach has in their background.
So I do have a very rich experience in therapy that I’m able to bring to coaching. I don’t sit down anymore with clients and help them resolve their PTSD or diagnoses like that. But the reality is we all have a little bit of trauma in our life. Literally mindset, when we develop a mindset that is typically in response to some sort of trauma. The mindset that I sucked was literally a result of the trauma I was experiencing as a failing business owner, however you want to term it.
David Richter:
Right. Yeah, that makes sense.
Dr. Sheri Fluellen:
But, we all have these things. So I have this rich awareness of how deeply these things impact us and change our perspective about ourselves, about our situations, and about humanity. And I also would say that I’m an expert at understanding patterns or seeing patterns in people. And so I’m able to bring all of that to the coaching. And specifically, I’ve been trained as a certified high performance coach, which is related to Brendon Burchard and, yeah, there is a very rich framework that he works from that is based on research, which I love.
David Richter:
Awesome.
Dr. Sheri Fluellen:
Because as I was thinking about coaching, as I said, everybody’s a coach and there’s so many coaches that are, these are the five things you need to do to be successful. I’m, okay, well, where’d you get that information? Well, that’s what I did. Okay, there needs to be more to success in life than just based on what Billy Bob did for his success. So anyway, so Brendon Burchard has this whole framework that he’s been using for a decade, and it’s actually literally tied to very solid scientific research. So I fell in love with what he does and the kinds of people that he works with. And the rest is history.
David Richter:
Yeah, I love that. I honestly love when coaches have a background in psychology. I want to go to the roots of problems. I don’t like the surface stuff. I want to go in and I want to extract what’s not good, but then I also want to make sure I’m putting good stuff back in too. So how should I be thinking and what are the things that we should be doing and how do I not pass this trauma onto my daughter?
I’ve got a little girl now, and it’s like, I want to make sure that she knows that it’s okay to talk about this stuff. And no matter what, I’m probably going to pass on something to her that’s going to be in the form of trauma. This morning I scared her in a room, and I didn’t mean to fully. Sometimes, I mean to, this morning I didn’t. But it’s stuff like that. I know I’m going to pass on something to her, and it’s, I just want her to be open with that.
So that’s why I love this where it’s like you can mix real estate, but then what’s the real mindset behind it? Or what’s the psychology behind it? Why do I feel this way? Why am I thinking like this? Why do I think I suck? Just asking yourself the deeper questions, which since the Profit First REI podcast, I feel like I said every single episode. So if you’ve been listening a long time, thanks for putting up with me.
So let’s talk about the psychology of money. So why do most people not manage their money? Why do most people think that someone else is going to take care of it? And I know you’re a Profit First fan, so you can even throw your story in there, but I’d love to know what your thoughts are behind the whole money thing and entrepreneurialism.
Dr. Sheri Fluellen:
Yeah, so that is a loaded question.
David Richter:
Big time. Huge.
Dr. Sheri Fluellen:
My favorite word is bazillion. I don’t know why I say that all the time, but there’s a bazillion reasons why.
David Richter:
It’s a great word.
Dr. Sheri Fluellen:
Yeah, right. On an aside, my husband and I, we like to dabble in T-shirt design. And so my favorite T-shirt is one… and it’s always about real estate. And so he’s got one that has something about real estate and on the side that says Bazillionaire in the making.
David Richter:
Nice. I love that. That’s a great shirt right there.
Dr. Sheri Fluellen:
Yes. So I think one of the challenges is I noticed that a lot of real estate investors, and I’m going to make some generalizations, but a lot of real estate investors are like my husband. So my husband is a very much kind of a bull in a China shop. He’s type A, he loves to talk, and he… well, not quite, he’s a little bit type A, a little bit type B, but he loves to talk. But he’s a get it done kind of person.
He doesn’t care about all the details. He’s a salesman. Put a sale in front of me, put a prospect in front of me, and I will get them to buy. But then managing the money that we make on the backend, a spreadsheet will make his eyes cross and he just can’t stand it. And I’ve seen that in a lot of real estate investors. They’re very entrepreneurial in that they have a big vision, they have a lot of energy and motivation to move forward, but often those types of personalities don’t like to feel like they’re being slowed down to have to deal with the minutia of the money. So that’s, I think, a piece of it.
David Richter:
Yeah, that’s definitely a piece of it. I can attest to that. But now, and I really like your husband too. I think you are a great team together. If most real estate investors could be like him then I think the world could be a better place too. But he is definitely type A. I could just tell there at the event, but just a… Okay, so you think that a lot of them don’t want to deal with the minutia and don’t want to get into the weeds. So why don’t they want to get into the weeds? So what are they doing besides the weeds and doing that? What’s the psychology behind that? I want to dig deeper.
Dr. Sheri Fluellen:
So what’s the psychology behind my husband? Or what I-
David Richter:
Well, no, the digging into the… No, we don’t have to go there. I know you’re his wife, so we could probably stay there for a while. So I don’t want to get you into…
Dr. Sheri Fluellen:
No, we don’t have enough time for that.
David Richter:
Right. That’s great. No, I was talking about the money side of like, okay, why are they not wanting to dig into the financial side? Why are they not wanting to get into the minutiae of money?
Dr. Sheri Fluellen:
Yeah. And as I was talking about my private practice that I built, and that started kind of deteriorating, it’s this interesting phenomenon I think that our culture has contributed to creating. And I think it’s especially true for men. Putting a little gender stereotype in there. But there is this strong relationship between how much money I make and how worthy I am.
David Richter:
That’s good.
Dr. Sheri Fluellen:
So particularly with whether it’s real estate investing or any sort of business, when things aren’t functioning smoothly and on an uphill angle, that can significantly impact one’s sense of self-worth, self-efficacy, their ability to be a good business person and all of these different things. So yeah, it’s, I can’t handle that, I don’t know what to do with that information so let me just pretend like it doesn’t exist and everything. Let me just do what I do best and I’ll just kind of hope the rest of it figures itself out, which as we know, doesn’t work that way. My husband and I had a conversation like an hour and a half ago, and just as a demonstration, he literally just said one of the solutions to this financial challenge we’re having right now, he’s like, I just need to sell more houses. I’m like, no.
David Richter:
Right.
Dr. Sheri Fluellen:
If I just make more money, everything will be okay. Anyway. Yeah, it’s just interesting.
David Richter:
I would agree with you, especially men tie their self-worth to how successful they feel, especially when it comes to what they do, their work or their business or whatever it might be. So how do you get out of that? Because I’ve been there before a big time in the past, that was a big thing for me, lots of insecurity around that. So I’d like to know from Dr. Sheri’s mind, now that we’re all on the couch with you, what would be the way to counteract that?
Dr. Sheri Fluellen:
Well, David.
David Richter:
Thank you.
Dr. Sheri Fluellen:
One thing that I have found that is super helpful, and this doesn’t just help with the ego that’s tied to the success of a business, it helps in all different areas, but is really getting clear on what is your life about. Now, I realize even when I ask that question, it’s like a huge question and not something that somebody’s like, oh, well, let me just tell you in two sentences, here’s my elevator pitch on what my life is about. No, it’s a very deep question. But the reason why that’s an important question to ask, and for you and myself to have clarity on, is if we can understand what the values that we most deeply espouse in our life, what those are, then we can put our business in its proper place, that our business is not the value. It is hopefully a vehicle that you can use to execute the value, but it’s not the only vehicle.
You’ve got your family, you’ve got your friends, you’ve got your hobbies. And probably most people that are listening to this, I would guess 95% of your listeners also have other businesses because that’s just what we do.
David Richter:
Yeah, exactly.
Dr. Sheri Fluellen:
If you’re a real estate investor, you probably either have a job or you have another business, it’s not just real estate investing. Or maybe it’s a different kind of real estate investing. But anyway, we got so many things in our life that can add to the overall fulfillment of our mission and our purpose and the goals we want to achieve while we’re in this world and that all relates to the values, like what do you truly value? So if we can try to separate the business as not the thing, but it’s just part of the contribution, that is a starting place.
David Richter:
Man, I like that a lot. That’s just really good. That’s very practical advice, which obviously we can’t go into an hour session. That could be a whole quarter just talking about that depending on what you need to get into. But that’s really good as far as a first step. Just compartmentalize and be like this, the business is not me. And I think that’s what a lot of people, and especially men, like you said, the business is them. That is their identity. And it’s like it’s just a part of who you are. And I like how you said, executing on the value. That it’s not the value, it’s executing on the value. I thought that was really good.
Dr. Sheri Fluellen:
Well, and that goes back to one of my values, let me just say, is intentionality. And so everything that I do, I try to be super intentional about it. So I have a conversation with my kids, I have four of them. I try to be very intentional about, on one hand I’m like, am I being the mom I want to be, am I being supportive, am I not enabling. I have all these things that are running through the back of my mind while I’m having a conversation with them because I want that conversation to have meaning and to have impact. It’s not just a random thing that happens. And so having intentionality in your life is a value of mine, but it also is important because that way we’re able to make some decisions about what we’re thinking, what we’re doing, and is it really filling that gap between what’s happening and the value that we’re holding.
David Richter:
No, that’s really good. I’m writing all this down. I’m going to take this back. I need to work on a lot of this stuff as well. So this has been as-
Dr. Sheri Fluellen:
As do I.
David Richter:
Right.
Dr. Sheri Fluellen:
We’ve never arrived. I think in life there’s always opportunities for growth and to learn.
David Richter:
Yeah, no, and I appreciate your insight and your wisdom. And I do want to ask you now that we’re getting into the final minutes of the show, Prophet First, what has that meant to you? Obviously that’s helped you along the journey, and I remember talking to you and what you even wrote down. You said that back in 2014 or 15 when it first came out, you heard about it. So do you want to tell about that journey and how that’s helped you from the financial side?
Dr. Sheri Fluellen:
Yeah, absolutely. So I learned about Profit First, I don’t even remember where I learned it technically from. I think it was a friend who also was a practice owner at the time. So I had my mental health practice, and I heard about Prophet First. So I read the book and I’m like, oh, this makes a lot of sense. So I told my husband about it because I’m in QuickBooks every week. I’m okay with that. I understand the P&L, I understand all that sort of stuff. But he, despite the fact that he had had a business for five years, had never logged into QuickBooks and would do exactly as the book talks about where it’s the bank account balancing. He opens up and, oh, I got X amount of money in there, I’m good.
David Richter:
I’m good.
Dr. Sheri Fluellen:
But that was not reasonable to me. So when I read it, I’m like, Ooh, this makes sense, this is awesome, and I think it can help my husband. And so I implemented it in the mental health practice. It could not say what happened, but it did provide a lot more profit than I had otherwise. And my husband started using it for our real estate side, real estate investing as well as his real estate business. And so we’ve been doing that for about eight years.
Now, I will tell you, I hit a wall because we’ve been doing, from 2007, up until about 2018, ’19, we were just doing buy and holds. We would buy and rent it out and just hold it, not do anything fancy. But once I had this hair, once I sold my business and I had this wild hair of what if we tried to double our portfolio in a year? This pent up energy I had from the business, I needed to funnel it somewhere.
And so once we started flipping and doing all the short-term rentals and started kind of increasing the diversity of the types of investing we were doing, then all of a sudden QuickBooks didn’t make sense to me anymore. I’m, I don’t really know if we’re profitable, because the cash flow kind of got weird, it flips. So anyway, so that’s where your book… and when I’m trying to remember where I first heard about your book. It was right when you wrote it. And I was like, oh my gosh, they have that, that’s amazing.
So I bought the book and I read it. I’m, oh, so there are different ways to be able to separate them out. So anyway, so that’s been hugely helpful. I feel like we have such a mess to wade through. We’re still in the process of fully implementing it. But we’ve had our caps and taps and all of our different accounts for quite a few years, and it’s been super valuable in keeping us from spending $26 or 26 flip money. We’ve only done 25, which-
David Richter:
Right, yeah. Yeah, exactly. Yeah, I’m glad. Just keep that money. Keep as much as you can. Keep it for what you wanted, for what you need it for. So this has been awesome. I feel like this has been a lot of value here from helping people where if they feel like the business is tied to them, or if they feel like, okay, that you’re not where you want to be, but that doesn’t define who you are. And then also the selling the biz and the emotions around that and the obstacles that you overcame and the things that you had to work through there, thought that was really helpful at the beginning as well. And then talking about Profit First, this has been amazing. So I just want to ask a couple last questions. Number one, what advice would you give to a real estate investor looking to implement Profit First?
Dr. Sheri Fluellen:
Do it now, don’t wait. You don’t even have an investment yet. Understand what you will be getting into. Get your account set up, even put a dollar in them. Do it now because the longer you wait, the more complicated it gets to try to undo what you’ve already done.
David Richter:
Right. Yeah. No, that’s really good. Start now. That’s a great action to take.
Dr. Sheri Fluellen:
Start now.
David Richter:
Yeah, get it implemented. So then you’ve dropped a lot of knowledge here. How can people find you? I know we talked about you do some of the coaching and you help people, but then I was on a podcast with you as well too. So it’s like tell them how to find you, all that stuff, making sure that they could connect with you.
Dr. Sheri Fluellen:
Absolutely. So you can find me on social media, Dr. Sheri Fluellen. It’s like Ellen has the flu, but just put it in reverse. And I’ve got a website, drsherifluellen.com. Nobody else has that name. So there you go.
David Richter:
There you go. So it’s the whole drsherifluellen.com.
Dr. Sheri Fluellen:
It’s D-R Sheri Fluellen. One R for Sheri, S-H-E-R_I. There’s like a million ways to spell my first name.
David Richter:
Yes. So there it is. S-H-E-R-I. Then Fluellen, and make sure you go there. She’s got the podcast that she does with… Was it Faisal, that was who was on-
Dr. Sheri Fluellen:
Yes. Faisal Ensaun. So we co-host a podcast. Because we’re both coaches, our podcast is geared towards helping other coaches level up their coaching and their business mastery.
David Richter:
Awesome. So it was a great podcast to be a part of their great hosts as well too. So if you’re looking to get into the coaching side and need a good podcast to listen to, that is a great one. So go and check that out as well too. This has been amazing. And if you resonate with what Sheri was saying, especially what she said about her husband, like, oh, we just need to do more deals and everything will be okay, and then it’s never okay, right? It’s like we have to go to the root problem. Just like with psychology, we got to go to the root problem of the money too.
If you need some help, go to simplecfo.com. We’ll hold you accountable to implementing Profit First, making sure you have the right systems, making sure that you actually keep more of the money. So we’d love to do that. Go over there, simplecfo.com, book a call. And then remember to make Profit a Habit in your business. And then Sheri, thank you so much for being on the podcast today.
Dr. Sheri Fluellen:
My pleasure. Thank you.
Speaker 2:
This episode of The Profit First for REI podcast is over, but there are plenty more where that came from. Are you ready to learn how David and his team can help implement the Profit First system in your business? Schedule a discovery call@simplecfo.com right now. We’ll see you next time on The Profit First for REI podcast with David Richter.
