E17: Helping Entrepreneurs Burn Bright, Not Burn Out: Chris Schwagerl

Cash Flow Fight Club

Are you looking to take your mindset and performance to the next level? In today’s episode, real estate investor Chris Schwagerl shares his insights on developing a champion mindset. Chris discusses his journey from social worker to financial freedom through real estate investing. He emphasizes the importance of defining what "enough" means for you and letting go of limiting beliefs from your past.

Here are some power takeaways from today’s conversation:

[02:19] - Creating wealth on a social work wage

[09:22] - How the book Rich Dad Poor Dad saved his life

[13:45] - The payment for being an entrepreneur

[16:47] - The three phases in the helping/service industry

[26:56] - The power of mentorship

[30:49] - The key factors of success

[38:23] - Chris’ mission with Infinite Skies

Episode Highlights:

[13:45] The Payment for Being an Entrepreneur

While this personal growth is rewarding, it also comes with its challenges. Entrepreneurs must constantly improve themselves and may experience more stress and isolation than other careers. However, according to Chris, this constant personal development is the price entrepreneurs pay for the rewards and freedoms of being their own boss.

[16:47] The Three Phases In The Helping/Service Industry

Chris talks about the three phases that people in helping or service industries like social workers, doctors, nurses, and therapists often go through:

1. Phase one is being purely passionate about the work and not concerned about pay. Just wanting to help people and make an impact.
2. Phase two is when people become managers of others doing the actual jobs they originally wanted to do themselves. They take on more administrative tasks and responsibilities to earn a more livable wage.
3. Phase three is when people either leave the industry altogether to pursue higher paying work, or they stay but become jaded, hostile, and no longer able to properly serve their clients and community.

According to Chris, his goal through real estate investing and the work he does is to help people avoid moving from phase two to phase three - to allow them to stay passionate about their helping roles while also attaining adequate pay and financial security.

[31:30] The Key Factors of Success

• Grit and determination. He notes how you can often tell who will succeed based on those who are raring to go and knocking down any obstacles without playing the victim.
• Not being afraid of failure. Successful people see failures and setbacks as learning opportunities rather than something to fear.
• Defining what "enough" means for themselves. Setting clear goals based on personal fulfillment rather than constantly comparing to others.
• Letting go of limiting beliefs and messages absorbed from childhood that no longer serve them. Successful people are willing to challenge old mindsets.
• Constant personal development and growth. Entrepreneurship provides ongoing lessons that force people out of their comfort zones.
• Surrounding yourself with complementary skills. No one person can do it all, so successful entrepreneurs build teams to cover different strengths.

Resources Mentioned:

Chris Schwagerl, LICSW | LinkedIn

Chris online at Chris Connects

Rich Dad Poor Dad