Ryan Serhant: His Multimillionaire Mindset

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I was right there which is exactly what we did in 2020 when we started the company when everyone left New York and everybody said Real Estate is dead and life is over and we’re all gonna die I gave myself one day to feel that way too and then I was like we’re probably gonna be okay yeah we should still do this for sure everyone else is not going to do it no one else is starting a company in the summer of 2020. everyone’s gonna be hibernating and watching Tiger King all day long I’m gonna take every dollar I have and I’m gonna start my own company I’m gonna put it on the cover of the Wall Street Journal and that’s what we did I’m not great at taking no for an answer I don’t get down on myself you know I paint a very clear picture of what I want and how I want to get it and I make sure that we make it happen in some way shape or form now it’s not always going to happen the way you think it will I just do not want to be on my deathbed saying I wish I had or I should have I don’t work for me today I work for me tomorrow this time two years from now on this day where are you what are you doing write it down keep pushing yourself and pushing yourself and pushing yourself to become the person you want to be versus waiting for that person to show up in which case it’s never going to happen and then one day you wake up you’re old and then life is over Ryan Serhant is the star of the hit TV show Million Dollar Listing New York and also owns his own brokerage called sirhant the sirhant team has closed over 4 billion in sales across New York Miami and LA in today’s episode we learn how Ryan went from an out of work actor to convincing a TV studio that he was the most successful real estate agent in New York he also shares the one thing he does that forces him to be successful I’m Erica Colberg this is Erica taught me and today we are here with Ryan Serhant so the first thing I wanted to ask you you have this very inspiring story of going from being a struggling actor to now this multi-millionaire with successful businesses if you were to look back and and think of some pivotal moments or a shift in mindset that really got you from where you were then to where you are now what would you point to well first and foremost and it’s funny you asked me that question it was bombing my lsats to go to law school really so I yeah I went to a liberal arts college right my parents I had to go to college to do the whole thing I had to do a Core Curriculum even though that one didn’t exist at the school I went to my parents were very much like you got to be well-rounded well-rounded well-rounded you have to know a little bit about everything because you have no idea what you want to be even though at every age you’re like I know exactly who I want to be and then a year later you’re like oh my God I wanted to be that thing and coming out of a liberal arts school especially in Upstate New York you either go into Finance you go to med school or you go like pre-law right and med school was going to be impossible for me uh Finance I hated my whole family’s in finance and I just it wasn’t for me at all I did theater in English in college and so it’s like I guess I go to law school I guess that’s what I do I have no idea and I studied really really really hard and I think if like I I whatever the bottom score is I got like three points above that and then I was like devastated and went to my parents it’s like ah I guess I’ll still apply to schools I got into like Phoenix online back when online education was not cool and at that point I was like this doesn’t make sense I’m not this I’m not going to go to law school I’m not going to be an attorney I got to go to New York I’ve got two years worth of expenses saved at least I thought so at the time and I’m gonna give this theater thing a a try so that was like the first had I done better on the LSAT I probably would have gone to law school and I definitely would not be sitting in this chair right now and I would not be I don’t know where I would be in my life but I’d be I don’t know an attorney probably doing something so that was one uh and then getting killed off the soap opera so when I moved to New York again not going to be an attorney I moved to New York uh I had like 10 grand and I was like that’s so much money because I’d never had that much money in my life I had another ten thousand dollars in a CD right just sitting there collecting uh collecting interest and it’s like once I go through the first 10 grand I’ll then tap into my next 10 grand I lived like that 10 grand at a time and I didn’t want a survival job or anything and I just auditioned all day long every day anywhere that I would be seen as an actor I would just go like I had to figure something out I didn’t I didn’t want to wait tables or bartend because I knew if I did that I would be stuck doing that forever and then I’d wake up one day and I’d be 55 years old and I would still be waiting tables and then I’m now a professional Hostess you know or host and I I’m not I’m not actually following my dream and I I think that a paycheck is by far and I’m not the first person to say this but a paycheck kills dreams every day and so I uh got onto a soap opera through an internet reality TV show called intern and it was to find the next soap star of As the World Turns and I played Evan Walsh IV I crushed it until the writers strike hit in 2007 and so for those who are unfamiliar for I don’t know American TV and film and whatnot The Writers Guild of America like are all the writers they go on strike every time their contract is up because they want more money and so the writers strike hit and anything that’s scripted when I pause and so that that in 2007 that killed soaps like most soaps died then because soap operas shoot two episodes a day right it’s a lot and I went from being a great doctor to a doctor that started killing everybody I killed everyone and then my grandmother wrestled me on the rooftop of the hospital that I was running at the time where I was trying to cure cancer and the syringe that I was killing people with with my lethal injection went into my heart and I died and then what that really meant was that I was fired and uh soap opera days were then over so had that kept going I don’t know maybe I’d still be on a soap opera today but that didn’t happen so then I was like [ __ ] what do I do and a friend said you get it you get your real estate license it’s real estate license it’s super easy you just go to the school everyone’s stupid he’s like anyone can do it right real estate agents whatever and it’s the same thing as theater and I was like what do you mean he’s like you memorize information right the more information you can memorize the smarter you’re gonna sound to somebody okay because you’re not sitting there solving complex problems they just want to know things that you then know or the internet know so if you know more than the internet then you make money I was like okay well I’ve been memorizing information my whole life trying to be an actor that’s all I do is memorize and then it’s a game of improv every person you meet you be who they want you to be and you get them to say yes right improv is yes and so that became the game and I just became addicted to it and so I would say those those two failures kind of put me into the world that I’m in today were you instantly good at real estate how long did it take to sell your first place forever you know now I get young agents all the time now I own my own company and the whole thing and they’re like oh God I haven’t done a deal in two days and I’m like you little [ __ ] I haven’t it took me like a year it was the worst there it wasn’t exactly like my friend said right where it was like just memorize information meet people improv you’re good they’ll pick things oh totally forgot to leave this part out that was when he told me to do that was April of 2008. say get your real estate license it’s awesome put apartments on the internet people buy them sight on scene dealing with people from Tokyo and Dubai the whole world it’s New York City it’s wild and he had a cool apartment and a cool suit all the time and like a nice watch like things that just were never in the cards for me and so I by the time I actually got my license my first day as a real estate agent with him was September 15 2008. that morning Lehman Brothers filed for bankruptcy which kicked off the subprime mortgage collapse and kicked off The Great Recession so that was literally I remember being in the conference room at the first office I was at on 49th and Madison above a burger heaven and uh that was day one but that was also super helpful to me even though at the time it was scary in the whole world I also had no money and it never had money and so all these people kept getting out of the business because their money dried up and they weren’t making commissions they weren’t selling and like I was like Forrest Gump right in the hurricane you know and just out there in the water all the smart people got their boats and put them into land but then the boats got crushed and I’m the guy out there with Lieutenant Dan being like what are you talking everything’s fine because I didn’t it’s not like I had a stock portfolio like the market crashed I didn’t really it didn’t you know it doesn’t it didn’t click with me as a important thing other than I just thought most people lose their job all the time like all of a sudden I went from I went from high school to college to summer jobs working on a ranch every year and doing General Contracting work and manual labor to trying to do theater to all of a sudden being a real estate broker and having to pay attention to the world and so I think the fall of Lehman Brothers in the start of the Great Recession was like huge World failure number three that again put me where I am today because it gave me that massive leg up when everyone else was getting out of the business I was right there which is exactly what we did in 2020 when we started the company when everyone left New York and everybody said Real Estate is dead and life is over and we’re all gonna die I gave myself one day to feel that way too and then I was like we’re okay we’re probably gonna be okay yeah we should still do this for sure everyone else is everyone else is not going to do it no one else is starting a company in the summer of 2020. um everyone’s gonna be hibernating and watching Tiger King all day long I’m gonna take every dollar I have and I’m gonna start my own company and I’m gonna put it on the cover of the Wall Street Journal and that’s what we did were you always like this from an early age where everyone else is running away but you see opportunity you know part of me wants to say yes because I think that sounds better the the honest part of me probably wants to say I think ignorance is probably one of my superpowers I do not over analyze right analysis paralysis is like one of my bigger fears and I watched people set up office and over analyze everything all the time and I’m like I just I don’t want to be you I’d rather make mistakes and learn from them really fast then try to get a win here and then really think about the next and then get another win there right like that one of my favorite quotes is I’d rather regret the things I did than the things I never tried because you don’t know like I know I probably shouldn’t do heroin and I’m never going to because it probably wouldn’t work out too well for me but everything else like what’s the worst thing that can happen if I start a business or start a tick tock page or start that like you know it doesn’t work okay great well it wasn’t working when you didn’t have it anyway so you know you’ve got a bet on yourself it just so happens that I did it all when the whole world seemed like it was collapsing so you ended up after a year in the real estate game selling the first place and then what a series of events happened to lead you to the TV show that you’re very famous for now I came to New York to do theater I got onto a soap opera on a reality TV show that was on the internet where people had to watch it it was 13 episodes or something and it would took 12 actors we went to a loft in Brooklyn and we we auditioned every day and the executive producer of As the World Turns who worked for CBS right would fire one of us it was awful it was like I still remember it was emotionally traumatizing but I won thank God and I got the role on the show and when I got into real estate you know my goal wasn’t to become a real estate agent like I wasn’t like I want to be a real estate broker it was the furthest thing from my mind I got into real estate because I was told I could make my own hours and it was a better way for me to make money using the skill set that I already had of being personable and being able to talk to people about anything and memorizing information then bartending waiting tables where I had to be places at certain times or doing uh like temp work you know my first year in real estate it made nine thousand dollars ninety two hundred dollars I think because my focus just wasn’t real estate my focus was you know still theater I was still trying to be in a movie I was still trying to do TV I was trying to do all that it just was you know they don’t teach you the business of being an actor at school they just teach you how to be a tree so it was a really great tree when I needed to be you know I could be an old man real quick and so I slowly eventually just put acting to the side over like my first year and a half in the business because I trying to be an actor made me a lot less happy than trying to get deals done as a real estate agent where I also had no boss and the businesses of being an actor and of being a realtor which is why you see in New York and in La you see a lot of people who do the same thing there’s a lot of commonality there because you are an entrepreneur anyway you’re Your Own Boss you’re the CEO of Ryan Serhant theactor.com and Ryan Serhant the realestateagent.com and if you have that muscle where you can wake up every day take initiative and just go hunt you can you can do anything anywhere and so I slowly put off acting to the side and just started just going to the office every day and meeting clients every day and meeting strangers on the street and like my first client base where pregnant women like pregnant women at Starbucks pregnant women at snacks Fifth Avenue if you’re pregnant and you had Lululemon pants on in 2008 2009 or 2010 there was a good chance and you’re on the Upper East Side that I would find you and tell you how great you look and how you look like you need a bigger apartment is that it I’m not from New York I didn’t know anybody else here so I had to meet people a different way and then randomly in March of 2010 there was a casting call put out and curbed for the New York version of Million Dollar Listing which was a show based in La that followed real estate agents as they did their work but they were looking for like the best agents in New York City under the age of 35 and I was 25. um I think at the time and I had just gotten into business and I was doing like little rentals in the village like where we where we’re sitting right now in Long Island City in Queens in the Bronx in Brooklyn it wasn’t a power broker but I knew how to audition and so I submitted myself and it was just an open casting call with 3 000 real estate agents at the Hudson Hotel and nine months later they cast the first season of that show and uh and I was in it and the rest is history you obviously at that time didn’t have that much experience in real estate yet how were you able to audition and make it look like you were one of the top people in the city I’ve always been a huge huge believer of future you right like to I’m talking to you today we’re doing this podcast this moment will be recorded which is awesome we’ll have it forever but it’s over after this is over and we have to move into tomorrow and I don’t work for me today I work for me tomorrow like today I just turned 38. Ryan at 40 is my boss that guy’s life better be awesome because if it’s not he’s gonna be pissed and I don’t want and he’s he’s worse than my boss I have to be that guy like you know if you piss off your boss all right great I get to go home at least I’m not you but if I piss off my future self I gotta eventually grow up to be you and that sucks so I better not piss you off and so I focus on future you all the time right and thinking about the future and making sure that I’m enjoying the day and like you know smelling the Roses on the journey but focusing on where I want to get to instead of where I’ve been right where you’ve been is what’s made up where you are today and making sure you’re good with that path and so I don’t know I think I I just really really keep my eye on the prize really far ahead of me like I even write down in my phone who I am in two years all the time and I switch it up all the time like who I’m gonna be in two years what do I look like what am I wearing that day right and it’s a good exercise for people to do I meet with young sales people all the time and they don’t know where they want to go or what they want to do I’m like your perfect world realistically though who are you today what time is it right now today it’s 4 55 p.m right we’re in New York City uh this time two years from now on this day where are you what are you doing write it down and that is now your vision board put in your phone it’s now in your pocket it’s attached to you the electronic signals in your phone the Wi-Fi the Bluetooth everything if you do the work you will become that person before those two years are up when you did that exercise two years ago could you have predicted that today you would be where you are at today two years ago yes I would have said that I was going to start my own company because that was in my plan but to get cast on Million Dollar Listing right to go back to your previous question I went and I told them who I was going to be during the audition you know they asked me how much I sold and I just said a lot never lied I’m not gonna lie because that would suck and then you’re always going to get stuck and caught right and I’m not faking it till you make it and I’m at all but I told him how much I saw and I said it was a lot right they asked me how I got around the city and I said Range Rover I wasn’t going to show them my metro card but when they called me back right and said hey we want to come follow you around it’s like like [ __ ] I gotta find a Range Rover so I found a Range Rover it’s not that hard I got one and then I drove it around it’s like oh I guess I could have this how do I budget for this interesting okay if Ryan the power broker has a Range Rover he drives around in it’s not that hard right I just have to do it and I showed them who I was gonna be in two years as my audition and they cast that guy and then that was a terrifying moment in December of 2010 where I was like [ __ ] I now have to I have to be the person I told them I’m capable of being God damn it you know it’s like your parents tell you how great you’re gonna be and you don’t believe in yourself so you’re self-deprecating and whatever this I I credit the show for putting like a metaphorical shotgun to my head because I told him I was going to be the number one real estate broker in the history of the world it’s like that’s what I’m going to be um if you cast me on this show uh be number one eventually I’m gonna build my own company it’s gonna be the greatest real estate company in the history of the universe and I said okay that better happen and if it doesn’t we’re going to put you on TV to 25 million people around the world and 160 countries so if you fail everyone’s going to know sir hands like well [ __ ] well now I can’t fail because I can’t hide it can’t hide it um and people go on reality TV all the time and they do fail and it is public and it sucks so I couldn’t do that so I was like God damn it now I got a camera that follows me around every day for the next 10 years of my life I have to succeed like there’s there’s too many people watching me I can’t I can’t relax I can’t calm down I have to win is the only answer what was something that the cameras didn’t catch of who you are as an individual not on camera oh my god oh I mean all I think if you ask anybody who works with me I’m far quieter far more calculated and I really like the office I like to work right I’m kind of like a Workhorse because I can control it on TV I’m much louder much more out there every episode I’m in a different costume dressed up as a bunny wearing a tutu I’m jumping into people’s pools I’m like half naked on the show half the time because that was the role that that I knew that I was kind of being cast to play was like that version of Ryan it’s not a part but it’s okay when the cameras go on that’s the Ryan that the world wants to watch No One’s Gonna turn on TV and watch me do email right I get 1200 emails a day not including spam so that ends up being a lot of my life so I have two email assistants you really want to follow me around and see what I do all day like you’re gonna change the channel real fast so I think there’s a lot of the real work that the show never showed because it would just not be interesting it would just be you know kind of boring that way and then a lot of stuff just in the background like the preparation you have no idea what it takes to put off those open houses and the events and the parties and the transactions and keeping them alive and especially during covid like season I guess what just ended season nine you know we shot for two years that season running through New York City and then we got hit by covet and then covet shut us down and then we started back up and then covet’s second wave came through and then we shut back down and we started back up and then we couldn’t do things until we had the vaccine I’m like it’s a you know it was tough but on on the show it’s like covert lasted I think an episode and a half so because it was fine what would you say were the three greatest things you got out of the show I own my career to Bravo and to Million Dollar Listing New York like I it when the show was casting like yes I was doing real estate but in the back of my mind I thought maybe I go back to acting but I was also looking at at applications for like graduate school I was still trying to figure out what I was going to do not law school but I was trying to figure out do I you know maybe go and get my masters in real estate maybe develop I I didn’t really I didn’t really know and the show gave me a massive massive platform right but I’ll tell you I don’t know if the same situation were to happen today if I would still do it right if it’s a streamer it’s a different thing but when Million Dollar Listings started in 2012 there was no Instagram right there’s just Facebook and it wasn’t even in your phone so like you people weren’t addicted to it if you sat down to watch TV you actually sat down to watch TV like people weren’t scrolling through news apps right there was Facebook and there was Twitter and that’s how we did everything I was like tweeting up a storm I don’t I don’t even remember last time I opened my Twitter app right or the Facebook app for that matter now attention is is very very scattered which is why we went so hard in 2016 into building out the real estate media company to create real estate media content for the Next Generation because when this for the first couple seasons of the show It produced and helped us open a lot of doors for a lot of business because people would see it right and then as it went on and as attention started to wane as that Netflix became a thing and YouTube became much bigger and Instagram came out and then video became a component and then all of a sudden people came up to me and were like hey dude you’re on that real estate show my mom watches I’m like oh I have to make a change that’s great for now because Mom is the one who’s buying or selling the house but if I’m not reaching you then I’m just gonna be doing all this work on a TV show that last generation is watching so how can I prepare for the next generation of clients I need to meet them where they are and I was on vacation yeah right around that time we really got into YouTube heavily and I my like 10 year old nephew we went to a place that had no Wi-Fi and no TV and I was like losing my mind like what do I want to do here what is this like it was like a lodge it was this whole thing and he walked in 10 plops down he’s good to go because there’s cell service and his iPad thing worked and I was like what are you doing over there it’s like what do you mean I was like there’s no TV he’s like I don’t watch TV like you don’t watch TV you’re 10 what do you do it’s like all my shows are in here and it was just it was like one of those eye-opening insane moments of holy Bach TV is dead right it won’t be dead today but it’ll eventually just go away and the minute live sports go to streamers then it’s all dead and that has now happened and so now it’s just so now it’s just a slow phase out and you see it the ratings and everything TV shows it just doesn’t make sense anymore because no one wants to sit down and watch a certain show at a specific time yeah what are you doing to think about today how you’re going to stay ahead of the curve and be able to reach those 18 year olds today who are who are then going to be your next purchasers well I’m going to start by doing your podcast to reach your massive audience and then I’m going to ask you for free legal advice forever um so that I can get free airline tickets and free Apple iPods airpods what is it airpods I don’t know I follow all your tips and I send it to my assistant I’m like do this thing do this thing Erica just said I could do this so we have to go do it now okay I like I like weight for these uncomfortable situations to happen to me in my life like being in the airport so I can use your tips it’s like wait wait lawyer Erica she told me dead you know I wonder if you’re already having an effect on like on the companies that you talk about and the things that you find for people who are like they got out it got out you know what’s funny is I went into the Apple store the other day because I did have this apple airpods thing go viral a few days ago and they recognized me immediately they’re like you’re Erica you’re like yes hello to get out of our store and then apparently there are all of these Apple stores around the country that followers are texting me about saying that they have a dedicated line for the airpods issues this week because they’ve had seen such a surge in people coming in to get their air pods replaced for free yeah isn’t that crazy if you’ve changed the world and they’re blaming it on me how did you even figure that out do you just like you just sit around and you read you read the Emoji it’s exactly what you say in all your videos right yeah you read the legal docs so we don’t have to yeah I read the fine print so you don’t have to yeah it’s just I look at the most I look at the most relevant problems that people are having and that tends to happen by looking at the most popular brands what are people doing they’re traveling who are they traveling with American Airlines Southwest United okay let’s read their terms figure out what what the solutions are yeah the brands what’s most popular okay Nike Apple Lululemon those are the great ones let me look into what we can do for them and that’s kind of how I’m creating the content crazy so crazy super cool very helpful actually educational yeah how are you thinking about creating your content it’s hard for me I because I built an audience that came out of following me from reality TV right so my audience is very bifurcated because some people really like the real estate but a lot of people then really like like my family and the baby and my wife because they followed me from like my first date with her it’s like The Truman Show like it was you know for any Die Hard Million Dollar Listing fans and sell like Sirhan fans and the the wedding spin-off and the renovation spin-off and all those shows like you know they followed me all day at my I my first dates with Amelia were caught on camera I proposed to her by shutting down Times Square that was on camera like back I’m yeah I don’t even think there was Instagram there maybe there was but like barely it was 2014 so kind of our pregnancy Journey IVF trying to get pregnant for three years that was all on camera all the storyline so like there’s audiences that want that stuff and this audience is that want real estate then there’s audiences that now want like motivational inspirational real estate CEO stuff so it’s trying to figure out how to please everybody you know I get envious of creators these days who like have their Niche and like their thing because you’re able to provide audiences with exactly what they want like you give audiences exactly what they want right have you ever put up a tick tock of like you going for a walk no or you like cooking dinner no you see exactly so like you don’t have that problem um so we’re trying to figure it out I don’t know I have a social team of 25 people you know as we try to figure out like what to do they also help the company right there’s a lot of people at the company that are not just me but we know that real estate entertainment and real estate content is a huge driver and so I will always do that and then we also know that the second bucket of thought leader is important so we’ll also do that and then we then know that day in the life is interesting so we’ll always do that it’s kind of like three pieces of of content that we create but we built the firm so I was at a brokerage for 12 years and I left to start my own company and named it after myself like you do uh sir hands and we are a content to Commerce real estate company we sell through content it’s we have we have a fleet of videographers and they run around and they create content for Real Estate all day long we put our properties our listings and then help our buyers by putting our stuff in front of more eyeballs than anybody else and no one else is doing it I don’t know why it’s not like rocket science but you know we have a massive platform and it grows every single day because when you create quality content especially For Real Estate it drives buyers like we just sold a 15 million dollar townhouse through Tick Tock through video like we list properties for over a hundred million dollars and we get clients through YouTube because there’s a trickle-down of information right on Million Dollar Listing to share what you’re seeing you’d have to take a photo with your phone or text somebody about what you just saw on tick tock on YouTube on Instagram Etc it’s all mobile so you can see a video of a property you really like and you can immediately text it to a friend or to your boss or to your mom who’s looking and that’s how transactions are really now done and that’s what we call like the first point of substantive contact right where can we reach everybody and we reached most people now through their kids and kids have influence over the parents and we’re the only company that’s that’s doing it which is why I think we we sell so much can we dig more into that so can we take the audience through your different Revenue sources and what what portions of your income they represent sure um I own a business completely 100 set them up through an LLC when we started the business is a flywheel of three separate pieces there is uh real estate brokerage which is a tech powered virtual brokerage we have physical space because it’s awesome um and we have club houses in markets where we can command at least a billion dollars in sales so First Market obviously New York it’s where I’m based we have a clubhouse it’s the ex Tommy Hilfiger headquarters in SoHo at 372 West Broadway and we bring in everything real estate brokerage commissions that way right so that’s commission dollars uh commission fees Consulting fees anything from Real Estate come through that part of the business then we have education so it’s called them Salt Lake city.com you come to us and it’s cohort and asynchronous for anyone that understands digital education meaning that you can do it on your own whenever you want or you can do it with us there’s coaching there’s Pro memberships there’s brand strategy there’s a lot and and we release a new full course about every quarter there’s many courses every month webinars guides chats everything there’s a great team that runs that whole part of the business and it’s built a massive referral Network as well both for us and for the agents inside of that and the revenue in that part of the business is derived from it’s so it’s annual subscription Revenue right so people pay to be in there monthly you also have course sales that sell from anywhere from 497 to 9.97 when we release them and then ongoing there’s package sales Etc there’s monthly coaching for sales people to help them build their businesses there’s pro-brand strategy will help you literally build your brand anywhere in the world and this is not just for real estate agents we do this for we have a Formula E race car driver in South Korea that we’re doing this for right now we have someone building a fitness app in Sydney Australia and then obviously we have a lot of sales people in a lot of different Avenues which is why you know we’re going into sales core and then we’ll go into mortgage and title and Ensure Insurance Etc and then we have media so all the dollars that we then make from licensing endorsements IP media creation we do a significant amount of speaking right like I’ll do in 2022 I’ll do probably just over like two million dollars in speaking fees just from speaking and then we have books right so we’re books we do the books the sales books and then we have uh TV and then probably some other things and those are the three main drivers real estate is obviously the majority but it won’t be forever education and digital education is very much the way the future and my main bet is that the bachelor degree goes away and that by 2027 if we’re just thinking about let’s talk about just nationally the United States right 50 of the workforce will consider themselves in some part a part of the gig economy right now it’s about 1.1 billion people worldwide and so as that continues to be the case and as younger people grow up and don’t want to go and get student loans and don’t want to be W-2 and want to just work for themselves and do whatever that means right they’re going to need to learn how to sell somewhere and that’s going to be us and that’s what we’re really building with the way you’re thinking about the growth of the edtech platform how are you allocating your time I have 70 employees as of today we bring on a new employee at this point like our growth scale we bring on a new employee about every other day we have about 200 agents now and we’re bringing on an agent about once a day in terms of kind of how we’re scaling at the moment my time and I people who run each of the businesses education is run by Kyle Scott media is run by Cody dembrosio brokerage is myself but also Natalie betevsky on my kind of brokerage team that run that side of the business and I am CEO of basically the holding company that owns the three main drivers of Revenue and I operate and oversee and manage so Tuesdays are a big education day Mondays are a big brokerage day Wednesdays are a big media day Thursdays and Fridays are all out like tomorrow’s Thursday I go to Naples tomorrow morning we’re doing content and media in Florida for the first half of the day and then we have a B2B deal with a uh with a brokerage in Naples at the end of the day and I give a speech there then Friday morning I fly back I think I’m an appointment’s doing real estate first half of the day and then managing the second half and so I would probably say it’s it’s split relatively pretty evenly at the moment maybe waited a little bit more on the real estate side but it’s it’s about leveraging and hiring great people like overpaying for great talent right like the minute I learned that it wasn’t all me even I I thought I was the best and like no one can do it better than me um that’s never true and if you can find great people to work with you who believe in your mission you can scale so so so much faster by just building you know even it’s like my first hire ever that I paid was a driver like and at the time well one I’m in New York and so I would never drive here to get to appointments where would I park right but when I would lose when I would go into the subway I would come out super sweaty and I would lose service and it would suck and then I’d be stressed out the rest of the day going in and out in and out like how do people do this oh they have drivers oh who has drivers hedge fund managers right billionaires have drivers like 27 year olds don’t have cars and drivers especially those who can’t afford them but I’ve always budgeted expenses by saying okay I’m an independent contractor I’m a salesperson how much do I need to sell to afford that I need to make more money and I need to grow my business okay let me really back out the time how much time do I spend in the subway every single day I like did this math right on average I spend about an hour and 10 minutes a day in appointments that times five right times four times twelve holy [ __ ] that’s the amount of time that I’m stuck in the subway without self-serve and this was back then their cell service in the Subways Now what is my time worth let’s figure that out how much money do I want to make this year let’s back that out as an hourly wage because I don’t get paid hourly okay now let’s multiply that by all the time I spend in the subway how much am I paying to ride the subway really it’s not the two dollars and twenty cents or whatever it is to go in the Subway because I don’t take the subway anymore and I saw what that number was that number was like three times what it cost to get a car and get a driver and it’s like well then it’s just math and all I have to do is I have to sell two extra apartments on average a year to afford this driver and all of a sudden I had a car and a driver and it scared the [ __ ] out of me and there was no way I could afford it I was like how am I gonna do this a year later I’m like why didn’t I get this before right like I’ve always pushed myself into Financial Corners yeah to force myself to become future me a lot faster it’s like when I bought my first apartment like I was looking for I was like I don’t want to pay rent anymore and I’m a real estate broker I should probably own something right I think that’s a good thing and my budget I was like maybe all right like a million like a million and a half and then I saw this Penthouse apartment in SoHo that was awesome and it was four million dollars and was like nah I don’t think I should do that it’s like maybe there’s a way I could figure out how to do it and so I bought it for 3.6 I remember my parents were like devastated and you’re like you it what is you are you gonna you’re gonna go bankrupt you have to move home now it’s just one of my rental properties right and um I had the same fear when I bought my townhouse and then renovated it and you know now I’m like because you just keep pushing yourself and pushing yourself and pushing yourself to become the person you want to be versus waiting for that person to show up in which case it’s never going to happen and then one day you wake up you’re old and then life is over and that is my biggest fear the fear of wasted potential yeah I think it’s very funny how you describe time and particularly the opportunity cost of time and how you justify paying for these things because I very much think of it the same way even something as cleaning the house I used to do it I used to hate it and then I realized at a certain point wait why am I spending three hours doing this and I could be making more money doing something else and paying someone a fair wage to clean the house of course and so these little things time is very important what other things are people getting wrong about time why are most people not as efficient as Ryan Syrian because they think of time as a free commodity that they’ve had since the day they were born I have this thing that I follow called the Thousand minute rule where you have 1440 minutes a day right we all do well at the same time you have the same time that I have the same time Oprah has the same time Bezos everyone has 24 hours okay all the same time so how many minutes a day do I have to be productive now let me just say a caveat here like I am kind of crazy and I do understand that there are different ways to live life and you don’t have to think this way okay but if you are interested in time hacking then we would get along okay so remove sleep food kissing your spouse right swiping through social here and there and you’re left with about a thousand minutes and if you think about it as not a thousand minutes of free time and if you don’t think about it as just another Tuesday but that every day you wake up as the CEO of your own Bank of time and that’s a thousand dollars why on Earth would you ever throw out ten bucks I don’t care how much money you have like this is crazy and the more and more you think about it that way and you can put it into your calendar you can program your brain to think this way the more you start to not be a psychopath the more you start to really value your time and work really really really efficiently it also works really well to get over failure heartbreak and loss right like one thing that I will still do to this day is like you can create memory muscle right muscle memory for getting over things right like for example you lose a big deal or something bad happens or your boyfriend breaks up with you right use time as your asset not associating it with money but go into your calendar 30 days from today at the same exact time and put a calendar invite in your phone and say how do you feel about Brian how do you feel about losing the deal at 123 West 23rd Street it’s going to suck and it’s gonna you’re gonna cry you’re gonna hate it you might quit whatever I guarantee you by the time that calendar invite surprises you in 30 days you’re gonna be like Bry oh that son of a [ __ ] that guy I moved on I’m on my fifth boy whatever right the more you do that your memory is going to understand the next time you go through loss and you physically go to write that calendar invite you’re going to feel better in half an hour it’s not going to take you 30 days anymore or a week because your brain is going to say oh wait we’ve done this before when things that make us sad go into a calendar invite we know that time heals all wounds and it used to take me a month it used to devastate me I used to throw out thousands and thousands of dollars of my minutes I’m not going to do that now I’m gonna use those minutes to make up for whatever negative feeling and use those negative feelings as fire don’t ignore them right and so I think I I use those thousand minutes incredibly well especially with budgeting time like I’m very very budgeted I think sometimes to a fault because sometimes I probably don’t leave enough time to just let things breathe like I don’t have a whole lot of white space in my calendar but it also means that I get done in a day what most people probably do in three and then I can move much faster so that yes I do a lot now and yes days might be stressful now but it’s like that age-old entrepreneurial saying of I would much rather live my current days now like most people won’t so I can live the rest of my life as future Ryan like most people can’t what else besides the time hacking do you think that you’ve done successfully to lead you to where you are today I think I’m very aggressive very Relentless with what I want and I go after it for the most part right I’m not great at taking no for an answer I don’t get down on myself you know I paint a very clear picture of what I want and how I want to get it and I make sure that we make it happen in some way shape or form now it’s not always going to happen the way you think it will for example I moved to New York to get on TV and I did it for a second in a soap opera until they killed me I got fired and then I had to go become a realtor to pay the bills the worst thing ever who would ever want to become a realtor but I kept that in the back of my mind that one day I told myself I want to be on TV they’re because they’re a casting call for a TV show based on real estate agents okay this is weird all right but I know how to do the audit I know how to be on camera let me go figure this out and then there you go right because I never lost sight of kind of the the the the goal right it’s like you want to have firm goals and soft plans because the plans can change all the time covet could hit like anything you can meet a new person that changes how you’re going to get to that goal but you want to pick those firm goals and know what you’re getting and I think a lot of people don’t actually set real goals and dreams for themselves or they do it and it’s unrealistic right like I was with a guy yesterday he’s like dude amrada I heard she’s getting a divorce dude she’s my next wife I’m like that’s an unrealistic goal buddy no way that happens for you you need to take it down a notch and get realistic and then go for something that’s realistic that’s a pretty extreme example what are your metrics for Success around so I I know some people say when I hit this net worth I’ll be happy I’ll be done do you have those metrics for success no to be completely honest with you the answer for me has always just been more like all know I’ve reached Max Max success when I just can’t do anymore and right now I’m definitely not at that point like there’s just I see the runway in front of us it’s massive and so I have to go down it like I’m not the kind of person who’s gonna see the runway ahead of me and say eh I don’t know like I don’t know if it’s gonna work for me or maybe I’ll just go this way and get a regular job and lead a normal life like I don’t know life is short and we’re all gonna die so like I I just I just do not want to be on my deathbed saying I wish I had or I should have like there are too many people who have robbed the world of their amazing talents because they just didn’t try and like that sucks for all of us is we could have met that person and they were awesome or they could have shown us that incredible talent and they never did or they should have built that company but they just didn’t think they could have or someone else told them they shouldn’t do it or they just got so down on themselves like you remove all that and look what we can do right and I think more and more people are starting to do that and it’s what makes me the most excited about the future as scary as it is there is now no limit to where imagination meets initiative you know like it used to be that you could dream about anything and that was it maybe it becomes a movie now the tools are there and they get reinvented every day and every day and every day it’s wild to think that our imaginations matched with initiative can actually become reality and maybe that will be what kills us all I don’t know but who cares it’s gonna happen anyway so we might as well be around for a ride and do as much as we possibly can this has been amazing I want to end this off with a little tradition we have so this is called the Erica taught me podcast but really today is about Ryan Tommy so what do you want people to be able to walk away from this podcast saying Ryan taught me this that if your air pods are malfunctioning you can go to Apple and they will give you a free pair and you just have to say I know this because lawyer lawyer Erica reads the fine print because so I don’t have to that’s what I want people to take away from this I I don’t know I don’t know I feel like we’ve talked about everything and anything I think anyone who’s listening any idea you have is a complete and utter possibility it’s not as hard as you think it is and it’s not as expensive as you think it is you just have to try it and if I could pass on that quote that I’d rather regret the things I did than the things I never tried if that can influence one person who’s listening to go out there and do something and try something that could then set their life on a different path than they ever possibly thought then I think that’s super super exciting and great for them and then great for everyone I’m all about growing the pie like it’s not about taking a a bigger piece of the pie let’s just grow the pie for all of us and then we’ll all be in a much better spot you know love that thank you thank you thanks for having me thank you so much for taking the time to listen to the very first episode of Erica taught me I spent the last two and a half months traveling to three different continents to record the podcast and I’m so excited that we’re finally launching and you’ll get to listen to it I really hope that you’ll enjoy it and be able to learn from it because this is a brand new podcast it would mean a lot to me if you could hit the follow button wherever you’re listening to this podcast and if you have time please leave a review for the podcast it really helps us out a new episode of Erica taught me is released every Tuesday so I’ll talk to you next week

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Comments (24)

  • @erikataughtme June 13, 2024 Reply

    This is the very first episode of Erika Taught Me! I'm so grateful for your support – I'll be posting a new episode on YouTube every Tuesday! If you're on the go, you can listen to the podcast wherever you get your podcasts: https://erikataughtme.com/follow

  • @Bowiestyle June 13, 2024 Reply

    Im a property consultant in Phuket Thailand who very inspired by Ryan.

  • @HighestSelff June 13, 2024 Reply

    Thank you so much Erika & Ryan 🤍

  • @maribelru2011 June 13, 2024 Reply

    Love his drive!!!

  • @MaxiBillion June 13, 2024 Reply

    Nice socks

  • @GoldenHomes-ys1hk June 13, 2024 Reply

    Doing Great Keep It Up

  • @monicagrorud2225 June 13, 2024 Reply

    Handsome dude!

  • @amaradavid001 June 13, 2024 Reply

    Love you all

  • @omarhosein890 June 13, 2024 Reply

    He’s super successful for a reason! Great guy.

  • @Thomas-1023 June 13, 2024 Reply

    This is top-of-the-line. I had the privilege of reading something similar, and it was top-of-the-line. "The Hidden Empire: Inside the Private Worlds of Elite CEOs" by Adam Skylight

  • @Robert-3691 June 13, 2024 Reply

    I'm under its spell. I read a book with similar content, and I was completely captivated. "The Hidden Empire: Inside the Private Worlds of Elite CEOs" by Adam Skylight

  • @kimlizotte694 June 13, 2024 Reply

    Haha! This guy is great! And as enlightening as inspiring!

  • @raquelfaraimo9627 June 13, 2024 Reply

    He looks 50

  • @crateinteriors8538 June 13, 2024 Reply

    Your real boss is your future you….grind responsibly!😍

  • @isidronava7497 June 13, 2024 Reply

    I read Ryan’s book, I absolutely loved it

  • @DougAdamWired June 13, 2024 Reply

    Thanks to Both Erika And Ryan for This Interview……Just SOLID SOLID GOLD 👍👍

  • @ilonabenedek2467 June 13, 2024 Reply

    RYAN CONGRATULATION TV CELEBRITY UNIC.THANKS❤❤❤❤

  • @ItsJoeyBlaze June 13, 2024 Reply

    I enjoyed this 10x more than I thought I would.. It was great content start to finish. Bravo Erika and Ryan.. Bravo

  • @IDontTalkToCops June 13, 2024 Reply

    “If you wake up everyday and have that initiative and go and hunt, you can do anything”
    I think this quote from Ryan really sums up his success. Had he not decided to get into RE and continued his acting career, he would have eventually got his break and become a successful actor.
    There is no more valuable skill set than the drive to succeed, whilst relentlessly directing that drive toward your goals and dreams, day after day.

  • @JamchesterBoozle June 13, 2024 Reply

    I loved this interview, up to the point where he said about 1000minutes and removing sleep – no amount of money or material success is worth losing a single hr of sleep.

  • @cynthiabanks-holman6952 June 13, 2024 Reply

    🙂 I Like This Guy✨

  • @leodiaz5710 June 13, 2024 Reply

    This is golden! thanks guys

  • @jesseniaocasio1693 June 13, 2024 Reply

    Love thisssss❤❤❤

  • @datascientist22 June 13, 2024 Reply

    Ok, but whoever laid down that brick wall sucks.

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