In this video, we’re going to help you discover how to prioritize your goals.
If you’re anything like me, it’s hard to keep your priorities straight and set realistic goals that will help you achieve your long-term vision.
I’ve been there and I know how frustrating it is.
There are so many things we want to do and we want to do them all. Watch this video to find out!
Transcript:
Steven Libman 00:00
Setting goals is easy. Make sure you’re setting the right goals and then prioritizing the right goals, right? Because sometimes you brain dump on the page and you’re like, “Okay, all this stuff is really good”. But what’s supposed to get done first, right? And until you prioritize those things into a way that you can do them consistently, that’s where the success is gonna come.
Jamie Bounds 00:18
Steven has been on our show before. So, welcome back! We’re so glad to have you. Steven is the managing partner of integrity holdings group. He has flipped nearly 1,000 houses and now has over 150 million assets under management. So, hashtag goals. There you go right there. Take it away. Let me hear about this.
Chris Bounds 00:39
Yeah. You don’t get to that without setting goals. We’ve set a few. Going forward for this year. And I know you have some big ones, what are your goals?
Steven Libman 00:53
Yeah, so we’re gonna put $50 million to work this year, and $200 million of acquisitions. We’re hopefully doubling the volume that we’ve been able to accomplish over the last three years in the next 12 months. We’re excited. We’re hiring. We have some key metrics for people that we’re hiring.
Adding to the team, expanding, and then just really getting out telling the story. We launching a fund this month where you know, now we’re gonna be basically fund managers instead of investing deal by deal so our investors can diversify. But so that’s the number goal, right? We’re adding two people to the team.
Hopefully, we’re shooting for $200 million. But I know you keep bringing it back to the “Y” right? So, what is the “Y”? The “Y” is to give a million dollars away to the nonprofits that we support through our fund this year.
Chris Bounds 01:52
You are the mysterious person I was talking about earlier appointment billion dollar volume my head, which when you first said that it’s such a huge number, it’s like I don’t even know if Grant Cardone has that. Maybe he does.
Steven Libman 02:07
He does now.
Chris Bounds 02:08
Yeah, he might now. But I mean, clearly he’s got a pretty big runway and had a trekker before that. And then we start talking with like, you talking about billion dollars as a fairly new venture as a fairly new because you’ve been in the real estate game for a long time. A lot of success. But commercial real estate, multifamily real estate. It’s fairly new last, what, five years? Three years? Sounds like?
Steven Libman 02:37
Just three, three and a half years.
Chris Bounds 02:39
Yeah. So, that’s a huge goal for you. I’m really curious of when that goal before it made it onto paper. Because it made me but it took a process in my head to let it sink in and come to terms with it. Well, how was that for you? Like before that ever made it on paper?
Steven Libman 02:59
Yeah, I mean, you know, people kept asking us like, “When’s enough, enough?” Like, how many assets do you think you’ll get to before you’ll just be done? And, you know, it’s interesting, because if we back out our giving goals, right, our B hag, right, our company wide B hag is to give 80% of our profits to nonprofits, right? We want to do 80-20. Meaning, if you make $100 million, you’re going to give $80 million away. We just backed out the numbers, right?
It was like, well, where do we need to get to legitimately be able to give 80% away based on a bunch of different metrics. And it was scary, right? I mean, I like to scare myself with goals. You and I are similar in the fact that we are the visionary, right? Where it’s more about what not necessarily how, right? Jamie is one of the how I have CEOs in our team that helped us with the how, and you know, so we focus on the vision, they focus on the, “How do we get there?”
But yeah, I mean, a billion dollars under management, we started doing 30, 40, $50 million projects, and I recognize that, hey, you know, if we do four or five of these a year, in three years, we’ll have a billion under management, right? Between three and four years. It was exciting. I mean, we get excited about big goals.
Chris Bounds 04:24
Yeah. And before I ever even got into that, before sort of venturing into the commercial or multifamily spaces for me it was like, “Man I’m already doing a lot of work.” I mean, you know how much work is flipping a house. Flipping a single house and it progressively got you know, more harder is, you know, the market matured and more competition, low inventory all other stuff.
It’s not any different multifamily they get, you know, there’s low inventory multifamily, too. It’s just, if I’m gonna work hard, just wanna have more doors, but at that point, I can now actually start. But like the bigger numbers make sense, like a billion dollars with single family homes. Like, I don’t even. I mean, I guess if you’re gonna do a Blackstone, but then you have to wait for 2008 to happen again. And yeah, who knows when that’ll be?
But in any case, what do you do to keep track of that? Let’s say just this year, just talking on a yearly point, but it’s the same thing on the three year or 10 year metric, but what do you do to make sure that you’re on track to hit your goals? You’re not meaninglessly, like, wandering along knee deep in the trenches, and then wake up and it’s December.
Steven Libman 05:38
Yeah, hope is not a strategy, right?
Chris Bounds 05:40
No.
Steven Libman 05:41
So, it takes a lot of thought, it takes a lot of quiet time with a pen and paper, and thinking through, okay, you know, here’s our yearly goal, break it down into quarters, quarters, go into months, right? And then you have bi-weekly just kind of metrics that you’re trying to hit to accomplish those goals. It’s how do you eat end one bite at a time you make sure that you chunk it down. We have a nine o’clock meeting with our team every single morning to go over whether we’re on or off track. For our goals, and only one of the eight goals that we talked about is a professional goal, right?
We have eight different topics that we talked about. And you know, there’s personal development, there’s mindset stuff, there’s community and connection stuff, and then you know, there’s a professional growth there. Everyday we do a 30 minute checking, or a 10 minute check in on with the whole team where it’s just on track off track, right? And then every Monday we run all 10 meetings still, you mentioned E.O.S. a couple times, I’m actually reading building an elite organization by Don Leonard Don created the E S system.
It’s a little bit different than E.O.S. And that’s the system that we’re running now. I’m reading that. I haven’t finished it, but I’m reading it. Yeah. I mean, we were just trying to create an amalgamation of the best of the best Don, unlike Gino actually runs a business, right? Gino has books and I but I don’t think he’s an entrepreneur that’s done a couple billion dollars of growth.
Don has it from a different perspective. So, that’s really what we do. We do our L 10 meetings, we’re making sure that we’re tracking KPIs, we’re doing scorecard metrics, and we’re keeping our team accountable so that everybody’s rowing in the same direction.
Chris Bounds 07:31
You mentioned the daily huddle, which something that several other guests mentioned. And then you have a specific, I mean, that has an agenda, too. Is that when you’re talking about on track-off track for the daily huddle? Is it on track, for the quarterly? Is it on track more for a weekly?
Steven Libman 07:48
Daily rule. We’ll do a 30 day metric, right? So we have 30 day, six month and one year goals attached to this spreadsheet. And then for that goal, like if my goal is to get to the gym five days a week, right? Then every day, we just come on, and we say we’re on track or off track of that goal. If we’re off track, right? Like we’ll have, if everybody’s on track for 30 days, we’ll have a prize at the end for the whole team, right? So it’s just this internal accountability of like, don’t go off track. Because, you know, life gets in the way sometimes and you know, but it just keeps you accountable with the social pressure.
Chris Bounds 08:26
Yeah, I like that. Yeah, it’s good way to run it. Any final thoughts for folks that are maybe still fine tuning their goals for this year? But not necessarily the fine tuning. I think a lot of people, setting goals is easy. Anyone can say what they’re going to do, doing it is harder. So any thoughts on the productivity and actually staying on track tips, so that we make sure that in December, it was going to the gym, they’re still going in the gym, or they’re still like making phone calls to to get that last deal that they eat?
Steven Libman 09:00
Yeah, I mean, you know, Don talks about this in his book, it’s the 20 mile march, right? And there’s this story about these guys going to the South Pole, and there’s two groups and one, they marched as far as they could during good weather days and hunkered down on bad weather days. And the other team decided they were going to do 20 miles every single day, regardless of whether or how they felt or anything, right? And it’s that level of consistency that got them there. And that was the only group that got out alive.
The other group died. They all all the explorers were lost during this trek. And now we’re starting to apply some of that stuff. So, where do you need consistency? How do you get those consistent? How do you get that consistency in your business or in your personal life? Whatever it is. And for us, it’s just trying to simplify, right? I think complicated is what gets lost. I think simplified is easy to maintain. And there’s this inverse relationship between clarity and stress.
Your clarity goes down, you don’t know what you’re supposed to do your stress levels go up and vice versa. So, you know, even my wife and I, every Friday, we’ll, we’ll sit down, we’ll meet after the kids go to bed and we say, “Okay, what’s our top three priorities for this week?” One for the marriage, one for the kids, and the other for like a house or a project thing that we want to do, right?
And those are just, and then we just agree on what the priority is going to be for that week. And then we go after it, make sure that we’re doing it. I think setting goals is easy. Make sure you’re setting the right goals and then prioritizing the right goals, right? Because sometimes, your brain dump on the page, and you’re like, “Okay, all this stuff is really good”. But what’s supposed to get done first, right? And until you prioritize those things into a way that you can do them consistently. That’s where the success is gonna come from.
Chris Bounds 10:44
Love it, love it. And then adding to what you said before, you know, having that prize. Small, little trinkets, it’s amazing. What that does emotionally for you. And we did that early on, we’d sell a house, we didn’t buy the Range Rover, but we bought, like, we have like a mini Starbucks machine. Not bad after $100,000 payday. And then the next one, we just went on to a really fancy dinner and spent money we’d never would spend on a dinner. And then the rest was reinvested. So yeah, having those little small prizes. Maybe it’s taken a day off. Maybe it’s I don’t know.
Steven Libman 11:15
Yes. celebrate the wins. It’s important, right? Because it’s not- What else are we doing it for? Right? It’s fun to celebrate the wins. I love closing these big deals with a bunch of partners and then you know, getting together and celebrating and you know, it’s not supposed to be drudgery. If your goals are drudgery. You probably won’t.
Chris Bounds 11:32
Yeah, enjoy the process.
Steven Libman 11:34
Enjoy it.
Chris Bounds 11:36
Appreciate it. Well, thanks, Steven. I’m look forward to having you on and I know we’ll chat again soon.
Steven Libman 11:42
Awesome. Thanks, Chris.