Millionaire Mindcast Getting The Clarity of Your Goals and Preparing Your Business For The Downturns | Evan Holladay
In this episode of the Millionaire Mindcast, Evan Holladay shares insights on how to level up yourself, your business, and career during this pandemic, reveals the magic trick to get the clarity of your goals in just an hour, the importance of having confidence to win every battle, how to prepare yourself and your business for possible downturns, and what is the best income stream in the future that you should pay attention to!
Evan Holladay is the founder and host of Monumental, a top-rated podcast where he interviews leaders, entrepreneurs, and visionaries making a massive change in the world. Also, he is the President and CEO at Holladay Ventures where they work with city leaders, impact-driven partners and communities to build multi-family affordable workforce housing deals in the Southeast US.
He is an advocate for affordable housing and was recently featured in the book CRA at Forty: Views on the Present and Future of Community Reinvestment. Currently, Evan has sourced and developed over $237 million, helping create 1300+ units of new affordable housing.
Evan’s mentorship started from his parents and during his college when he realized that he hated science and chemistry, and building housing what his passion is. That’s when he became part of a new million mixed-use development construction on the campus. He was the first one hired at the development and really learned the nuts and bolts of real estate and real estate development work. That’s where the real estate journey takes place for Evan.
Later in college, they’ve started a modular housing development company that not just builds generational wealth but also makes an impact for people that make all types of incomes. It is a company that provides affordable and workforce housing for families in need.
After college, they do their best to grow the company and find partners in the real estate world with the experience and learn the knowledge from them.
During this interview, Evan gives lots of insights on how to step up and make an impact during these hard times. For him, it is important to have clarity on your goals. Figure out where your current condition is & align it where you want to go and what your vision is.
This is the time to double down and find the opportunity that suits your passion and turn it into a business. There are massive opportunities in real estate, especially on the rental side. Therefore, do the preparation ahead of time. Roadmap your destination and get a mentor. Take that learning and put it into action. This is the best time to plant your seeds to capital, education, building relationships with your network, brokers, and investors in order to take advantage of it later.
Lastly, never forget to think of the downside of your business and mitigate the risks ahead of time. Plan for, and be prepared for the downturns!
Some Questions I Ask:
- Where’s your overall mindset? How are you feeling with everything right now? (00:10)
- What’s your overall outlook on how Corona Virus is going to impact real estate as a whole? (01:23)
- What are some of the things that you would tell that new real estate agent or investor or new entrepreneurs starting their business to start with, think about, plan for, & build from day 1? (05:02)
- How critical is mentorship in where you started to where you are at & find yourself up today? (10:40)
- Is now a good time for someone to consider jumping into real estate whether it's investing or career, what do you say to that? (15:50)
- What would you say has been the best ROI on a scale that you’ve learned that has made you successful over your real estate investing journey that others should put on their tool belt or sharpen the ax on from day 1? (19:20)
- What would you say from a tactical & strategy in business perspective is a discipline that a lot of business owners lack or overlook or are really struggling because of it? (23:16)
- What’s a good reserve amount that people should use as a rule of thumb when they’re starting to build up their business bank account? (25:54)
- Where do you see the greatest impacts and opportunities coming in real estate in the next 2 to 5 years? (28:24)
- Take us through a high level of what does this opportunity, space, and niche that you plan to look like? (32:50)
- What other things should people be paying attention to or thinking about how they incorporate things into their own life and how that might create opportunities for them to go and serve that certain sector of that business or those opportunities? (35:01)
- If you were to be starting all over again, what are the 3 things that you do for the next 90 days? (37:58)
- Who are some of your favorite mentors & people to follow that you believed virtually, physically, positively influenced your life, your habits, & your mindset that other people might be able to follow and learn a little bit more about? (40:03)
- What trends are you paying attention to over the next few months? How can people navigate these uncertain times and still succeed, still make money now, still positioning themselves to capitalize on building success and wealth in the process? (42:12)
- If you are on your death bed & you’re looking at the rearview of your life, what do you hope you accomplished and what are people saying about you that you would consider a life well-lived, a business well built, a successful journey? (45:47)
In This Episode, You Will Learn:
- Steps to get the clarity of your goals just in 1 hour (05:32)
- How to turn decades into dates (06:59)
- 3 main parts of a business (17:13)
- How confidence contributes to Evan’s success (19:55)
- The importance of cash especially in the business right now (24:32)
Quotes:
- “Dig the well before you need the water.”
- “If you‘re clear of who you are as a person then your confidence & your abilities becomes way more clear too.”
- “The butterflies are great and the more you attack the fear it just allows you to get the butterflies to fly and formation.”
- “Cash flow, cash, capital, all those different things are king right now.”
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