#47. Rocky Lalvani—The Principles of Profit First: Prioritizing Profit in Business Measuring ROI in Marketing and Sales

Rocky Lalvani shares his background as an immigrant to the United States and his journey to becoming an investor and entrepreneur. He discusses the principles of Profit First, a financial system that prioritizes profit in business. He emphasizes the importance of setting aside money for profit, taxes, and operating expenses, and provides insights into implementing Profit First in different real estate business models such as wholesaling and fixing and flipping. Rocky also highlights the need for tracking and measuring key metrics to ensure profitability. In this conversation, Rocky and Rob discuss the importance of tracking and analyzing financials in real estate investing. They emphasize the need to compare actual expenses and profits to projections, and to consider funding costs and the allocation of profits. They also highlight the significance of having reserves, paying oneself, and setting aside money for taxes. The conversation touches on the importance of accurate bookkeeping, the value of dashboards for tracking financial data, and the need for business owners to avoid micromanaging and empower their team members. They also discuss the role of marketing and sales in generating revenue and the importance of measuring ROI.

Rocky Lalvani arrived in America with his family and just $25 at the age of three, witnessing firsthand the power of saving, investing, and spending wisely. These principles guided him through adolescence and adulthood, even as he spent much of his career in pharmaceutical sales.

Now retired from corporate America, Rocky enjoys traveling with his wife and grown children, flipping houses, practicing karate, weight-lifting, and volunteering. His passion for personal finance led him to start the podcast "Richer Soul," which explores life beyond money. Rocky views money as a tool that, when managed well, opens countless doors.

His father's financial wisdom enabled the family to thrive in America, and Rocky's own financial acumen has allowed him to achieve dreams like taking his family on an Italian vacation. Committed to helping others, Rocky now focuses on empowering small business owners with financial management skills. Drawing from his own experiences in corporate roles and running a small business, he offers practical advice at a fraction of the cost of a full-time financial manager.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Stitcher, Castbox, Google Podcasts, or on your favorite podcast platform.

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#57. Igor Shaltanov—Building Wealth through Real Estate: The Benefits of Investing in Multifamily Properties

In this conversation, Rob Chevez interviews Igor Shaltanov, a former water polo player and now a real estate investor. Igor shares his journey from growing up in Russia during the transition from the USSR to the new Russia, to becoming a professional water polo player, and eventually moving to Southern California. He discusses how his background in sports taught him resilience and the importance of never giving up. Igor also talks about his transition from being a coach and business owner in the sports industry to becoming a real estate investor, and how he started buying and remodeling properties for rental income. Igor Shaltanov shares his journey from investing in single-family homes to syndicating apartment complexes. He discusses the challenges and benefits of syndication and the importance of finding the right operators. Igor emphasizes the goal of financial independence and the ability to make choices based on passion rather than survival. He also highlights the non-material rewards of helping others and making a positive impact. The Avista Fund, which Igor co-founded, focuses on investing in multifamily properties and diversifying by location, management group, and asset class.

#56. Chris Arnold—Healing Trauma and Finding Brotherhood as a High-Achieving Entrepreneur

In this conversation, Chris Arnold shares his personal journey of unraveling and healing from trauma and addiction as a high-achieving entrepreneur. He discusses the importance of addressing childhood wounds and the belief of not being enough that drives many entrepreneurs. Chris emphasizes the need to move from a performance-based self-esteem to a place of healing and self-acceptance. He also explores the role of plant medicine, such as ayahuasca, in his healing process. The conversation highlights the importance of connection, both with oneself and with others, in overcoming isolation and stress. The conversation explores the importance of community and brotherhood in the lives of high-achieving entrepreneurs. It emphasizes the need for vulnerability, compassion, and support among men who often feel isolated and alone. The discussion touches on the impact of childhood experiences on adult behavior and the necessity of healing past traumas. It also delves into the role of simplifying life and finding peace amidst the drive for success. The conversation concludes with an invitation to join the Simplifiers Brotherhood, a community of men dedicated to personal and professional growth.

#47. Rocky Lalvani—The Principles of Profit First: Prioritizing Profit in Business Measuring ROI in Marketing and Sales

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