Empowering Wealth Creation through Real Estate Investing with Kris Krohn Transcription:
Kris Krohn [00:00:00]:
It's to keep growing, spinning it off, and then endowing it to have that interest just go perpetually into the foundations you know, where the where the most important work is being done on the planet. So that that's that's really what it's all about.
Steven Pesavento [00:00:14]:
Yeah. It seems like the higher the level of success that that you create, the more likely that impact starts becoming more and more of a focus point Welcome back to the name of your number show presented by the investor mindset. I'm excited to have a special guest in the studio today. Chris Cron. How you doing today, Chris?
Kris Krohn [00:00:36]:
Yeah. I'm doing really good, Steven. glad to be here on the investor mindset.
Steven Pesavento [00:00:40]:
Man, I'm really, I'm really glad to have you. you you're somebody I've been watching, grow online. You've been really inspired by the businesses that you've been able to build. You know, I know you're on track towards over a $100,000,000 of revenue in your business. I know that you've bought and hold many, you know, 65100 plus single family homes. You've done real estate. You've done private equity. You've built an incredible team. And you've done all of that while building a life that you love. I mean, you're traveling all the time. You're spending time with the family. you're teaching them the things that are most important. I mean, it's a true inspiration. What I'm curious about, Chris, is at what point did you realize the life you were creating was more important than the work that you were doing.
Kris Krohn [00:01:28]:
You know, My my father was a German immigrant, and he just said, Chris, you have to work hard. Has all immigrants say? And he said, you gotta get really good grades. and then you gotta go to college and you gotta get a degree and you're gonna do that for 40 years. And then you're gonna retire rich. Like, my dad sold me this dream. and I think it was easy for him to lean into because he didn't really have an education beyond elementary school from Germany. He learned, he was a master craftsman trained in in woodworking. And so he felt like he was giving his son the very best advice. but my life, when I look at what it's become I thought it was going to be go to school, go to college, become a doctor, work really hard, be, you know, make of the best money at the top of the food chain, and then I would really be set for life. And the best thing that ever happened to me was funny out that I was too stupid to become a doctor. Like, I'm in college. I'm taking organic chemistry, and I gotta see it's a weeder class. And my advisor says, you gotta take it again. And I work. I got a tutor. I double down, and I gotta see minus I can go around. I'm like, oh my gosh. And he just said, Chris, this is not. Like, you should pick a career that comes easy and naturally to you. This does not, and he was right. So I gave up that dream and, you know, I started searching inside the walls of college for, oh, well, maybe it's marketing director or maybe this thing, or maybe I'm gonna be an engineer, or maybe I wanna be a teacher. And all I saw across the board was whatever career I picked, you're pretty much gonna make 50, 80, $100,000 a year. And I looked at that and I just said, that's that just sounds like kind of a normal working life, and I started realizing I'm gonna get trapped. And I also got married young. My wife and I've been married for 21 years. And when we first got married, and she didn't have we had kids, she said, Chris, like, you're the one that's gonna be the breadwinner. be the one making the money. I was like, okay. I gotta I gotta pick a good career in college. And I I as I searched, I'm like, I'm screwed. I'm I'm I'm I'm gonna I'm gonna be set for 40 years of indentured servitude giving the best hours every week 40, 60 hours of my life every week to something I probably don't even care about that's gonna pay me tiddly winks. And when it all is done at the end of the day and I come to retirement, I'm gonna be screwed. And I didn't just kinda get there on my own. I had this telemarketing job. And when I was in college, I spent a year interviewing people that 30 years earlier had gone to college. They got a degree. These were Dave Ramsey. I kind of people. They were 401 ks, IRAs, house pair offers. And I started just after talking to thousands of them, here's what here was my sense. by their mid fifties, they maybe had a net worth of a couple $100,000. Maybe they had their house half paid off. And I was like, oh, no. Like, Then you talk to the ones that get to 65 and it's like, shoot to maintain your standard of living. If you're gonna annuitize your money and live off of it off of the interest, you'd need at least, you know, 2 and a half, $3,000,000, and you have 2, 3, 4, $500,000. So I just saw all the math as a twenty one year old And I figured it out. I figured out that everyone's gonna fall really short financially, and that honestly, Steven, is what encouraged me to say that's it. I am going. I'm go I'm going off the ranch. I'm gonna go so far outside this university model, and it's and I'm gonna use a real simple model. I'm gonna go find the most successful people that I can and I am going to tie myself to their ship. I'm gonna learn everything I can from them, and their proximity will show me the way. And that's essentially what I did that changed everything for me.
Steven Pesavento [00:04:47]:
So you dove in. You found a I mean, real estate was one of your first models that really allowed you to be able to build wealth. And, obviously, you've expanded. You're running a ton of businesses now. at at what point did you get your 1st coach?
Kris Krohn [00:05:05]:
My first I I found three people that had all made over $10,000,000 in real estate. the first person that I found, I scared off because I went to their house at 11 PM at night and said mentor me, and they didn't like that. And they slammed it under my face. But the next two, one of them was a neighbor across the street that looked like he was poor. He dressed like he was poor. His house looked like he was poor, and he was worth 1,000,000 of dollars. And then my other mentor was the opposite. He was, in the process of building a fourteen thousand square foot house, that had all of the bells and whistles and extras and brand new cars and boats and everything. And so I had these 2 funny mentors that were, like, total opposites, but both had similar results. And one was all flash, and one of them had zero flash. but I basically followed them around. I did deals with them. They helped me structure and do my first deals, and I basically just learned the ropes from them. And so by the time I graduated college, I had a a modest portfolio. I had 25 homes. it's paying me residually about $12,000 a month. And it meant when I graduated that I didn't have to get a job. In fact, I had a job during college. I quit it. And I was done. I'd I honestly never needed a work again. And, that was just like the beginning of wealth building. Right? Small net worth, couple $1,000,000 but I was free. And I had my time back, and I could pretty much do whatever I wanted. And so that was kind of a pivotal moment where I'm like, okay. I'm out of the system. and I'm just starting my life.
Steven Pesavento [00:06:27]:
I mean, you found your way there really early. Right? You found your way there while you were in college, twenty six years old, you're free, but let's fast forward. Right? You're running you're running your business. You're buying a bunch of houses. You're growing. you know, there there had to be a point along the way where you've you got pulled into the trap that so many operators fall into. where you're pumping all of this time and effort and energy, you're building this business, and then you realize that there has to be more to this. that it's actually about the family. It's actually about these things, or was that always core to your belief even at, you know,
Kris Krohn [00:07:06]:
21, 22, 26? No. No. I didn't figure those out when I was young. I hit 2 things happened that really changed the direction of my life years ago. The first one, and I was 7 years ago. I was had paid a $100 to be in this Tony Robbins finance event. It was like a week long event. In the very first hour of the event, he has us do this little exercise. And he says, what are you learning? And I I like many other people raise my hand, except for some reason, Tony picked me, walked right up to me and I walked right into an intervention. I didn't even know it. And for the next hour was just processing me in front of a room of 300 entrepreneurs And what came out of that experience was realizing that I'm a brilliant creator. I like to start the party and make the money But I hate the long term executive implementation of growing teams and building cultures and scaling And that's actually what most entrepreneurs do. You're a creator and implementer. You're rarely both. And so a lot of entrepreneurs are like, well, I created it. Now I should implement it. And They loved the creation and they hate the implementation, and they can't figure it out. And they're also control freaks. They hire down. They hire people dumber than them. That people that they can control and wield and they can't figure out why they don't have the right people on the team. And so after that intervention in that week long with Tony, always wondered how can you get a $100,000 of value from an event? Oh, I figured out how. In fact, on the on the way home, the very first phone call I made was to a direct my company over my marketing firm, team. And I basically said, on Monday, I'm fired. I'm not running the company anymore. I'm not the president. I'm not the CEO. I'm nothing. I'm the creator. You are the executive director. You're gonna run it. And that you're my company quadrupled. And it's because I got out of the way. So that was a very important moment when I started learning the true power delegation, when I realized that you have to learn how to empower the right people if you wanna be everywhere. Like, right now, I'll get 10,000,000 views on all of my social this week, and I've got 400 companies and I'll work 25 hours this week. If I worked less than 25 hours this week, I would feel unaccomplished. I'd feel unfulfilled. If I work more than 30 hours a week, it's gonna start messing with my Mojo balance in my life. So I had to learn how to trust people and how to empower people, and that was the moment when it happened. But the real, Steven, the real thing that changed everything for me was, it's a little over 4 years ago. My my my best friend, Grant Thompson, was one of the top 100 YouTubers in the world. His channel was called King of Random, and he brought families, parents, and kids together with homemade social, you know, science experiments. And, I got a phone call when I was coming back from Peru that he had just tragically fallen out of the sky paragliding caught bad wind. collapsed his, his chute and fell against the mountainside and died. And when that happened, that was after 2 other buddies, same age as me had also died earlier that you're so weird. And it's just like, this keeps happening, and now it just happened to my best friend. And I thought, seriously, Chris, if you died tomorrow, would you really be fulfilled? And the answer was no. I was wealthy. but I felt like I wasn't honoring. I I had all of the money in the world to achieve the balance that I wanted, but I wasn't giving myself permission. after my friend died, I said I'm giving myself permission. I pulled out a pen and paper. I designed my perfect week. 168 hours a week, just like everyone else, I designed my perfect week. and I've been living that perfect week ever since. And since then, I've never struggled with balance. It's just available, and it comes down to standards. I just needed to change societal ideas. For example, every Wednesday, my wife and I tomorrow's Wednesday. we'll spend the entire day together. We've been doing that for such a long time now. Like, my wife is my best friend. I love spending time with her. We might get on my jet, go to Disneyland and just chill at Disneyland do the park for a day and be back in my bed that night. We might go hang out at the spa, but we might literally lie around in bed and just watch Lord of the rings trilogy. I don't know. but that's her day. That's not conventional in the middle of the week to take a day off and treat it like a Saturday. you know, I work 3 days a week. Monday is social day. for studio work. And then Tuesday Thursday, I work from home. Friday is my kid's day. Saturday's my day. Sunday's god's day. I don't ever obligate myself to do anything in the evenings that isn't family unless I'm putting on one of my events outside of that. And then wake up at 4 AM, and I have a 5 hour routine that I do every single day Monday through Friday, and that routine lights me up and cultivates energy and sets me free. I built that the day after my buddy died, and I've been living that schedule ever since. And so since then balance has been very, very doable.
Steven Pesavento [00:11:45]:
Yeah. I mean, it's sometimes life gives us some of the hardest gifts to receive. You know, it's going through that kind of loss, that kind of grief, you know, about 4 years ago, I had a similar situation happened in my life. My younger sister She died in a car accident unexpectedly. And, she had left my house that morning and was driving back to Minnesota. And it's in that moment that you realize these things don't just happen to other people. They happen to you. That life is We don't know how long we have, and we really need to enjoy every moment that we do. And I feel like you've been a really powerful example of somebody who took that took that message that you received and decided to make your life about something really meaningful. And what did that do for you when you when you started living that perfect life?
Kris Krohn [00:12:42]:
So it's so crazy. You know, a lot of people are like, dude, you're crazy. You get up at 4 AM in the morning because they're they're thinking about sleep, and I'm not. I'm thinking about energy I'm thinking about my meditation, which is it's sacred. It's powerful. It's life building. It adds to my life force for the entire day. My wife does my entire routine with me every morning. We work out at the gym together. And and so this whole, you know, reading books and everything that we do during that time, It's the most precious thing that I do every day that builds my destiny. It's what prepares me to be a dad, a husband, an employer, an influencer. And so I I spent 5 hours a day investing in myself and learning and growing and and and basically sharpening those skills. that has been so invaluable to me. all the time that I have with my family, we just got back from two and a half weeks in Japan the month before I took all of my friends on my private jet to Iceland. before that, we were in the Galapagos Islands with my kids on a on a private yacht for a week. this this, the ability to maintain this balance. I fast forward 20 years, and I'm like, who am I gonna be? I will always be able to look back and say, I got to have the time as a father and as a husband for my loved ones. And, and that that I think probably means more to me right now than anything else.
Steven Pesavento [00:14:01]:
Yeah. I mean, when that moment happened to me, I mean, it just knocked me knocked me out. I'm sure you experienced something really similar, losing somebody so close to you.
Kris Krohn [00:14:09]:
Yeah.
Steven Pesavento [00:14:09]:
But it really made me realize, like, what's important. And it's super easy as an entrepreneur as a business owner. as somebody who is out there publicly like like you and I are. It's easy to get pulled back in. There's so many people asking for our time. There's so many things that we wanna do to make an impact to to be able to make an income to be able to change people's lives, and it's so easy to get pulled into the minutiae pulled back into the administration into being an integrator when, you know, that's not that's not me. I'm very similar to you. Very much like the creating side kind of making things happen. What what tools have you used, or how have you been able to hold yourself accountable to that decision that you made that every day you were gonna live and put those priorities first. The things that actually matter most, keeping yourself in alignment, keeping your relationship tight, and making your family the most important thing instead of getting drawn deeper in because you have 3, 400 companies. So I would imagine that you know, a guy like me who has 3 or 4 companies, it's it's easy for me to get pulled back in. I'm not fully out yet. So what is what has allowed you to stay accountable to those changes that that you made?
Kris Krohn [00:15:27]:
I I think the first thing is, that I tell everybody about my lifestyle. Everyone expects, like, everyone knows. Don't text Chris on Wednesday. It's his wife's day. He's with his wife. My wife knows it's my wife's day. My kids knows my my wife's day. And so, you know, just because I I share it with the world and I say what it is, I think that just sometimes creates Listen. When someone wants to change something, they say it quietly, and then they do it internally, and they don't wanna tell anyone, and then they're surprised when it doesn't I believe in peer pressure. My peer pressure is I'm just gonna tell the whole world exactly what I'm doing because I found that it it's a very, very easy tool for accountability, but Probably, the more technical answer is that I have a team that I trust. And Steven, that means that, that you can't have 2 cooks in the kitchen. I have CEOs for each of my companies. So I can't really get pulled back in to playing that role. At best, I can be an adviser. And so I'll show up. I'll be an adviser. I'll show up to the board meeting. Outside of that, they might put me on a special project, but then I'm out. And so, I have to respect my people and their boundaries. And because of that, it it works. I used to meddle and just kinda get involved a little bit. And then I saw that what that did was disempower. I'm a strong personality. I empower my people. I basically tell them this, and I don't here's the objective. I don't care how we get there.
Steven Pesavento [00:16:47]:
Yeah.
Kris Krohn [00:16:47]:
If you can get me there working 80 hours a week or 8 hours a week, I don't care. If you take 80 hours a week and you want me to feel bad for you, I won't. I'll think you're stupid. You could do it in 8 hours a week. I'll praise you for your intelligence, wisdom, your cleverness, and for your level up. I don't care what effort you put into getting the outcome. You get the outcome. You get paid. And so that means they have to be in charge of the how, not me. So I have to know what I want. you know, sir Richard Branson, he's known for saying, like, do you become a billionaire over and over and over again? He said, step 1, you have to have a clear vision on what you want. Step 2, you have to find the best people on the planet and step 3, you get out of their way. I follow that mantra really, really closely. And, it's it's been working. It's been a good thing.
Steven Pesavento [00:17:30]:
What what have you used to be able to attract those kind of people into your world and to be able to build that trust internally in yourself to know that know, hey. I'm gonna step back. I'm gonna let them do their thing.
Kris Krohn [00:17:44]:
It starts with one person. You have to find the person that is gonna run everything that you implicitly trust. I put years into Carson Teigen. when he was my director of marketing and I made him the executive director and a year later, I made him CEO and 3 years later, I made him the president of my board who then was in charge of 10 other CEOs. we spent weekly time, you know, when I say work 20 hours a week. I spent a couple hours a week with him. So I'm always investing in him. And now years later, that investment has yielded a relationship that is so powerful. And as long as he and I are single-minded in our outcomes, he knows how to lead the rest of the crew. You have to have one person on your team that gets you inside and out and will be loyal and will honor your wishes, etcetera. This individual has some huge financial incentives and plays for hanging with me and doing what he does. And, we've become amazing friends. He's not going anywhere. So he's a lynchpin. to everything that I have today. If I didn't have him, I I wouldn't have the confidence that I I do in answering this question. I think it starts with having 1, and then that one person should help breed a dozen more. And then from there, you just keep expanding.
Steven Pesavento [00:18:56]:
Yeah. So it's you're really you've invested this time in one person that you know gets your vision that you believe in, that you trust, that's proven themselves over and over again. You didn't just one of the big mistakes to see a lot of entrepreneurs do is they go out, they run, they hire people, and they just step back.
Kris Krohn [00:19:14]:
It's a mistake. It's a mistake because you don't have rapport with these people yet. You don't know if you can trust them. It's amazing how easy it is to lie in an interview. Some people are really good at just causing you to believe they're the guy, but I always believe that the real interview happens 30, 60, 90 days after the higher point. and it's just like, when I hire someone, I'm not really giving them a job. Like, they think they're getting a job. I'm not giving them the job. I'm telling them, yeah, I'm gonna give you a salary for a month. 30 days, we're gonna circle back. And I'm gonna find out if you're too faced or if you exceeded expectations or if you fell short, and I'm gonna reevaluate. And then at 90 days, I'm gonna do the exact same thing. After 90 days, if you're with me, you're hired. You get you get to keep the job.
Steven Pesavento [00:19:57]:
Yeah. And that's so key because you're allowing them to prove themselves, build that trust, and you're checking in on them. You're not just a 100% hands off. Yeah. So kind of pivoting away from the business side of the conversation. I mean, for you, you really got to financial freedom really early. Yeah. You've continued to grow. You've continued to see those new lines. What what's your number today or what what what have you named that is that line in the sand that you're targeting? Because I can see. Right? Like, you you don't need to work. You don't need to run more businesses. there's something else greater that you're going after, and I'm curious. What is that?
Kris Krohn [00:20:38]:
So I gotta I gotta give you a funny answer on this one first. 2 years ago, I had the director of my foundation say, Chris, in Ukraine right now, since the war has broken out, you have these families that are broken. the dads are being sent to the front lines. These mothers that have been pregnant, they're having premature babies, and some of these babies need surgery to stay alive. The problem is they don't have the medical support, and these babies need to be transported to Poland to get the surgeries, and they don't have the ventilators to allow them to transport so they can't survive the trip. And he said, let's take a $1,000,000. Let's go in 5 weeks to Ukraine. There's a particular baby that was just born preemie. Her name is Sophie, and there's hundreds of others. Let me get all the medical supplies and let's deliver them and save these babies. And, My heart was pricked with an absolute yes. everyone thought that I was crazy, like, I don't know why you're going. You're risking your life. It's an active war zone. but honestly, the spirit of my grandmother who is a refugee during World War 2 who's since passed on, I I felt her spirit just pricked my heart and say, Chris, The only reason why you are alive today is because when I was a refugee, someone helped me. And I was like, man, I have I have to do something. So -- Wow. -- 5 weeks later, we loaded up a $1,000,000 of medical supplies and we were on our way to Ukraine. And, I was so relieved at the moment we got to do the handoff, to one of the hospitals. And I specifically had Sophie's Vince later. I said, you get this to this little girl because she's just hanging by an inch and you get her to Poland as fast as you can. few days later, we were leading the country. And, we got word that Sophie had made it to her surgery in Poland. But we found out she hadn't survived. And, it was so heartbreaking. We had saved so many babies, but we didn't save Sophie. And, I came back from that with a wounded heart, but a bigger heart. and I just decided that this is a bigger part of my mission. I don't need more money for more shit. I don't need stuff. Yeah. But there's a purpose. There's a capacity. If I'm able to create this level of value than to what end, it's certainly not to give to my children. I'm not gonna give 100 of 1,000,000 of dollars to each one of my children and ruin their life. you know, this work is for the people who can't help themselves because these innocents, they are in the world, and no one is coming to save them. So, that experience, in this this spring, I'll be taking my 4th trip to Ukraine. And we are this weekend, my wife's gonna be in co at one of our safe houses for kids that were pulling out of sex trafficking and slavery. you know, this this foundation and the work that we're doing right now is the most filling thing I've ever done. So the line in the sand correlates really to one outcome. I don't need the money. It's for something else. I told myself in 2009 that I was gonna be a billionaire. That was, was 13, 14 years ago now, and I'm probably within a year maybe 2 at best of actually hitting that goal. And I know what that money's for. It's for an endowment fund. It's to keep growing, spinning it off, and then endowing it to have that interest just go perpetually into the foundations, you know, where the where the most important work is being done on the planet. So that that's that's really what it's all about.
Steven Pesavento [00:24:05]:
Yeah. It seems like the higher the level of success that that you create, the more likely that impact starts becoming more and more of a focus point. I know for myself, impact is really important, yet I keep getting drawn back to that scarcity mindset that I grew up with. Right? I I've I've broken it in so many ways, but it's easy to get pulled back to it. And yet the thing that really is fulfilling is being able to help people, being able to make a change, like, in those individuals' lives, at what where did this shift for you away from, hey. I'm running a business to this is about something greater than that.
Kris Krohn [00:24:47]:
I think I've told myself, Steven, for a long time that I'm that altruistic guy. Yeah. But until I stepped foot off of that plane in Ukraine, I didn't know it. On my second trip to Ukraine, we were on the war front. There was a highly disputed area. There was missile fire going back and forth. you know, between the Russians and the Ukrainians. And there was this little neighborhood caught on the top of a hill that was being bombed with indirect fire. And we were there to rescue twelve people that were stuck in their homes, and, some of the homeless were being literally just blown up. And so I was in the jeep. that raced up the hill amidst all of the fire fight and pulled these people to to safety. And in that moment that I was there, something very, very special happened, something very spiritual. It's actually kinda difficult to describe, but In that moment, I realized that I was a meat sack. Like, I'm I'm not a near billionaire. I'm not a successful entrepreneur. I'm not an influencer. I am a man with a body that can pull these people to safety. I am nothing. I am less than the dust of the earth. It that, like, these bombs, this war doesn't care whether I am important or not, whether I'm special or not. None of it mattered. And it was really a any moment for my life because I I just realized that, a part of my ego died that just said, Chris, like, here's the real truth, yay for you, that you've had a lot more success than a lot of other people, but all that really means, brother, is greater responsibility. And if you are blessed with so much privilege and you're not using that to better society and create value, then you're really messing it up. And, so I think I think those trips to Ukraine and Mexico have been for me those moments that I I think I went from a desire to be altruistic. It kinda sounded nice to actually becoming that person that really just wants that for other people now.
Steven Pesavento [00:26:46]:
Yeah. It sounds like a really transformational moment because I know for myself, I I am drawn to it. I enjoy the fulfillment when I'm when I'm working with somebody 1 on 1 and we make a shift and and that ends up leading to big change in their life or you're helping to support somebody. You're volunteering. You're doing these things. It's all it it it feels great in the moment, but it's easy to get pulled back to that bigger drive. Yes. Yeah. Yeah. There's this part of me who knows that my purpose is to help change individual people's lives and and be able to do something greater.
Kris Krohn [00:27:21]:
Yeah.
Steven Pesavento [00:27:22]:
And there's this resistance inside because it's there's almost like a fear of, of being able to let go of the focus on money because that was the thing that got me where I'm at and got me out of the situation that I grew up in.
Kris Krohn [00:27:36]:
You know, this is gonna sound a little crazy and this may not even be fully, appropriate to do on your podcast, but I will drop this. every trip mission trip that I take to Ukraine, it it is filled with entrepreneurs that put up at least a $100,000 and they're hurting their pocketbooks because they're hoping to have an experience, and they're the ones that will spend a week or 2 with me in Ukraine basically delivering the goods and witnessing the direct impact of helping people. And every single person that's gone with me and come back has had their heart completely transformed. and the trajectory of the rest of their life. I know it. It's never you you don't have an experience like that without becoming a different human being and never being the same again. And you're asking how? Well, I'm sure there's a lot of different ways, but that is most certainly a way. And, that might be something you wanna consider as maybe you're on maybe this coming spring, you're on that jet with me, you know, getting a chance to be their front row, helping the people, seeing the people, and, and making the difference. I think that I think that it's when we do become front rowers to the cause of good that we become enrolled into it. So one thing to just sit back and write a check and say, man, I really hope that makes a difference. I heard that empowering speech. You know, I've been to Tim Tivo's event wrote him a several $100,000 check. you know, writing the check feels good, but it's very, very different than when you're the helping hands.
Steven Pesavento [00:28:59]:
Yeah. I mean, that sounds incredible. Definitely let me know. more about that, Chris. yeah, that's it's it's really it's really powerful because As as we kind of take a step back, it's like we're all grinding to try to create a better life for ourselves. And then once we create it, We wanna share that with other people. Yeah. For for you, I know you've been a big Tony Robbins guy. I know you're a lion. know you're you're traveling around. You're spending time with with the crew. I've been big in the Tony community myself. It's made a huge impact what what impact is has coaching made in your life and in in your team's lives?
Kris Krohn [00:29:44]:
So so I've had I I'm proud to say I've had 32 different mentors from beginning to this point that, in most cases, I I I I paid a steep price of time and money to basically get in their airspace. And I don't know a faster methodology for human growth than when you inconvenience your life both time and money to be somewhere where you can really sit at at a master's feet that has achieved 10 times a hundred times or 1000 times more than your greatest and wildest dreams. And so, I think Tony was, like, my 26th mentor, you know, in the game, and I was in his ecosystem for 2 years. And, I love I love basically feeling into my intuition, feeling who I feel drawn and called to, and then going out of my way to get in their airspace to essentially say, teach me. And that's where I've learned, you know, I I would say coaching for me being coached and and as much as possible, not even in group format. 1 on 1 has been for me, It's it's been some of the most profound training that I've I've ever received. I think that it is the creme de la creme. I think that it is the most rapid way to growth. if anyone's listening to this that has never been to a a multi day full immersion event, anyone that has, only maybe turned to books and podcasts for their learning. If you wanna know when the growth is so fast that it's like you're in a rocket ship and it's shaking and you think the bolts are gonna come out of the side and accidentally leave you in space dead. for me, I find that when I go to these full immersion events and then when I hire a one on one coach. And, I've had group, you know, coaching dynamics with Tony Robbins. I've been to his house. I haven't actually ever had Tony as a one on one coach, but I've had so many others that, that's when the dynamic for sure becomes the most meaningful. And you should seek that out.
Steven Pesavento [00:31:46]:
Yeah. There's a there's something really powerful to that, and there's nothing like going to an event for
Kris Krohn [00:31:52]:
3, 4, 5, 6
Steven Pesavento [00:31:53]:
days and just being full immersed. I actually just recently dove in, you know, the next chat of my growth into Joe De Spenza and some of his work and have had my mind completely blown
Kris Krohn [00:32:05]:
-- Yeah. --
Steven Pesavento [00:32:06]:
from being somebody who's pushing for everything towards actually pulling it into my in into my world, but also that feeling of, like, unlimited love that comes out of these meditations Yeah. It's impossible to explain to somebody who hasn't experienced it to be able to think you can create that within yourself, but it's only by getting into a community of other people that you start realizing that it's possible.
Kris Krohn [00:32:28]:
Yep. Yeah. No. Joe's absolutely He's he's a stunning man, brilliant soul, and absolutely amazing. Now I love that. That's beautiful. I put on, you know, every quarter I put on a 4 day event, I own I own my own event center. several hundred people will basically gather, and we will do 11 half is just all wealth training and how you do it, and it's a blueprint on how you become a billionaire. And then the other half of the time is just pure mindset breaking through limiting beliefs, creating was just like the perfect environment for transformation and growth that isn't found sitting in a seat. you know, whether we're doing glass walks or fire walk or some of the other crazy, crazy modalities, it's it's all about creating a transformational experience so that you basically look back and say my life's never gonna be the same again. And so those those experiences are out there, and, they are deeply, deeply meaningful. So, yeah, that's my favorite way of coaching.
Steven Pesavento [00:33:23]:
When it when it comes to the investing side, you know, the the system that we're living in today is broken. you know, go to school, get a job, work for a foreign k, and hope that someone else is gonna take care of you. Yeah. Or hoping that it's gonna work out, but that Hopium doesn't. It's not real. Like, it it doesn't work anymore. It maybe worked a couple generations ago, but so many people are trying to figure out another way, but there's so much fear so much fear of stepping out of the traditional stock market world and into the world of real estate or in private equity or business from your perspective, what what is the best way for somebody to get, their first steps in that direction? I know you have a new book that's out. kinda talk to me a little bit about some of your methodology and how you think like an investor.
Kris Krohn [00:34:08]:
Yeah. So in the beginning, it was real estate investing and real estate was really easy to figure out. Given enough time, I'll I'll become a billionaire just in real estate alone. However, it wasn't until I entered the world of private equity, that I realized that you could make that happen in leaps and bounds in very, very, very short time frames. And so Private Equity is that mergers and acquisitions game of basically finding a way to identify companies with high asymmetric upside. Like, for example, one of my companies 6 months ago, and I started that is MVP going to market right now, it provides a it prides a a a software solution to a huge a huge problem in our supply chain. And what it does is it allows the the brands that are shipping products to retailers to actually, do split pay methodologies so that brands who basically, you know, who make stuff and give it to retailers and get paid months later it allows them to use our technology to get paid the moment something sells. And what it does is it puts the banking on the sides of the brands instead of the retailers and now retailing you can get into that business for a tenth of the cost, and I'm providing valuable data back to the brands. Well, I already have a $100,000,000 valuation on that company based on companies that pre signed up to use that software, that company has $100,000,000,000 net worth. That company only came to me through iteration and magical conversations that happen on private jets. iteration is this idea that your very first company isn't going to be the big one. Your 5th one is. Your first one is training wheels, and some people will get so addicted to their first business. They're like, no. No. No. I'm gonna figure this out. I'm like, no. No. it's taking all your time, and it's the hardest money you're ever gonna make. How do I know this? Because when you finally have the freedom and the position to exit from it and let someone else run it, so you can work on a second 1 and you increase your standards. Your second one is inevitably significantly bigger than the first, and then you learn the pattern. Your third one and your fourth one will also grow. You might have some failures in between, but eventually you learn the game of business. By the time you get your 5th business, That's when you select a business on all the proper criteria, what has great exit value, what produces max value in the world, what's super scalable, what has unlimited lead database and traffic sources. And all of a sudden, you now pick a company that can just shoot through the moon and go, you know, right now, I'm working on several companies that all have 1,000,000,000 or multi $1,000,000,000 potential. And most people would say, but, Chris, you only need one of those? I'm like, no. I need a 100 of those. Well, why? Because 20 or 30% of them are gonna do exactly what I hope they they they will and the rest are going to do some of it or they're gonna are completely in fail. And if I have 20 or 30, those $1,000,000,000 companies come to fruition. Hello. Right? So iteration is, I think, one of been one of the greatest teachers in the game of business, which is don't be satisfied with your current business. that's the business that you'll beat your head against the wall like smacking your forehead against bricks and just bleeding profusely saying I can find a way I can find a way I can find a way. You met your Peter level. you need to iterate a new idea Sigma, and there's not more to gain. You think there is, but you're delusional. You need to move on to something with higher standards to create something better instead of trying to force your current baby to turn into the monster that you hope that it will.
Steven Pesavento [00:37:27]:
Yeah. That's that's such a powerful thing because so many people that I know that are young entrepreneurs, they think it's all about this. They got to make this thing happen. They gotta get it to the max level. But what you're actually saying is yeah, enjoy that process, bang your head against the wall, learn the lessons, but start thinking ahead. How can I get somebody in here start running this business so that I can go focus on creating the next one and the next one and the next one. Yes. And what role does you know, thinking like an investor play in that process. I mean, you're not actively working in many of these businesses, it sounds like. So it's really the capital coming in from the things that you've created in the past.
Kris Krohn [00:38:08]:
Yeah. The mindset is everything, Steven. I mean, anyone that does anything great, they didn't do with money. They didn't do a community. They didn't do by people delegation. We're confused. These are all, none of these things are the thing. Everything starts in the mind. Think about this. You're having 70,000 thoughts a day. depending on the number of words you use in a sentence, you're having at least a half a million words a day. And the untrained mind will use words like bad, horrible, can't, didn't work out. They'll use these words that are negative driven and they're just normal descriptor words to them. But in my world, everything adds up all the negatives and all the positives. So if you have a half a million words a day, most people have at least 1 or 200,000 of those words that are limiters. They're negative minded. And what it does is it brings down your energy. It robs your motivation And it it what it does is is it coerces the confidence out of you instead of being, you know, properly placed. And so one of the things that I do at my events is I teach people how to reconstruct all of their thoughts and sentences so that all of their language can work towards their benefit. And that ultimately, when someone says, well, what even is a mindset? Well, for me, it's it's gotta be positive. Positive is the fertile ground where, thought can really take root and become something. The skeptic's gonna kill that. newborn. It's not going to allow it to thrive. And so watching our, you know, like Lal Su said, it's really watching our thoughts that become words that watch that become behaviors that become destiny It all comes down to our it all comes down not even the thought. It comes down to a word. What are the words that we're using to assemble life? People accuse me all the time. Like, dude, you are so positive. You're so happy. How do you do that? It's because I I altered my standards. I don't use negative language anymore as building blocks. because everything that you think is a building block to something that you're creating. And if it's not a good building block, then it is hurting you instead of helping you. So, I mean, the mind the mindset is where it all begins.
Steven Pesavento [00:40:15]:
Everyone wants the tactic. Everyone wants the strategy, but they actually need to start by changing what they're thinking about
Kris Krohn [00:40:22]:
Yeah.
Steven Pesavento [00:40:22]:
Before any of that stuff matters.
Kris Krohn [00:40:25]:
100%.
Steven Pesavento [00:40:27]:
Well, Chris, it was so great having you on the show today. Really appreciate you joining. where can people find out more about you? I know you gotta book out. I know you've got a bunch of different things that you're doing. What's the best place to point people to?
Kris Krohn [00:40:41]:
So, freewealth gift dot com forward slash Steven. my team's put together based on our interview today. They put together, I think, some of the greatest giveaways free tickets to my events, things that people here might really appreciate. freewealth gift dot com forward slash Steven is, where you can go to see some of the ways that you can connect with me, connect with my social, get my books for free. everything is free on on that website, and I hope that it will honestly and sincerely help you on your journey to figuring it out and living your life at a higher level.
Steven Pesavento [00:41:11]:
It's amazing. Would love to come join you for one of those events, Chris.
Kris Krohn [00:41:14]:
Please do, brother. Would love to have you as a special VIP guest.
Steven Pesavento [00:41:17]:
Sounds like a ton of fun. This has been incredible. Thank you so much for being such an inspiration to me personally, and I know millions and millions of other people. and, thanks everyone for listening. Look forward to seeing you on the next episode. and, signing off. Thanks for listening to the investor mindset podcast. Make sure to hit that subscribe button. And if you'd like to watch another, here's one up top, and here's another great video. right down below.
