030: The Importance of being Successful in Business and at Home with Jim Sheils from The Family Board Meeting

Jim Sheils discusses his real estate business and how he started speaking to entrepreneurs about how to be successful both in business and at home and what it looks like to climb a mountain and be disappointed when they get to the top. Some highlights include:

• There are tons of organization to help entrepreneurs be successful in business but not enough to help them be successful at home.
• A successful real estate investor can sum up their business in one sentence.
• The hawk who chases two rabbits will catch neither
• Jim has done over 1,000 deals but volume is not always great in real estate
• If you are starting in real estate, focus on one market and go deep
• How Jim survived the housing crash cutting costs and calling on family and friends
• Sometimes the best time to invest is when there is blood in the street, including your own
• Why a lot of people who are successful in business are not successful at home and it doesn’t need to be that way
• Entrepreneurs use the art of delegation too much. There is no replacement for connection and time with family
• The concept of The Family Board meeting and the importance of spending quality, 1-on-1, undistracted time with your kids. The requirements are that it be at least four hours uninterrupted, 1-on-1 - no spouses, siblings or friends, No technology or distractions and a fun activity they choose with focused reflections
• Why we should be involved in our kids’ education
• Experiential education is the most effective form of education
• Stay consistent. Focus on execution over content
• Importance of rhythms
• Using a date night with a question
• The importance of dating your spouse
• The best way to deepen relationship with your kids is to get involved in their education, especially on personal development, relationships and financial intelligence
• The challenge of accepting weaknesses and being ok with them, getting past limiting beliefs and inner dialogue and do it anyway
• The importance of separating parts to strengthen the whole and engaging in simple rhythms.

Links:

• The Family Board Meeting website
• The Family Board Meeting book on Amazon
• www.Entrepreneurhotseat.com
• Andy Storch Coaching

If you are interested in coaching or have feedback or questions on the podcast, feel free to send me an email: andy@andystorch.com