Homeless, addicted and incarceration over the past decade. Sterling Shrout has transformed his life in less than 1 year during a global pandemic from a renter/handyman to landlord, home owner and business owner after finding a love for education and entrepreneurship.
Entrepreneurial Role Models:
Tim Rhode founder of 1 Life Fully Lived
When business started difficulties overcame:
“A big one was just the fear of the unknown. You don’t know what you need insurance wise… LLC… or you think you need all of these protections. Some of the them you do and some of them you don’t depending on what you do. And then the fear of failing. It’s hard to let go of the comfort of know I have a steady pay job… or venturing out and making your own path. So getting over that fear”…[Listen for More]
Favourite Books:
- Outwitting the Devil: The Secret to Freedom and Success Bookby Napoleon Hill
Also mentioned:
- Money Master the Game: 7 Simple Steps to Financial Freedom Book by Anthony Robbins
- Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! Mass Market Book by Robert T. Kiyosaki
Favourite Quote:
“it always seems impossible until it is done” Nelson Mandela
Recommended Online Resources:
BiggerPockets – Real Estate Investing Education, Tools & Networking. Learn how to invest in real estate with educational resources, evaluate properties using expert tools, and connect with other investors.
Best Advice to Other Entrepreneurs:
“get educated especially financially… Paying down to your house, leveraging business lines of credit, getting an SBA loan or getting your credit score up. These things are so important”…[Listen for More]
More About Sterling Shrout:
Neil’s Quote at the Beginning:
“You’ve got to get up every morning with determination if you’re going to go to bed with satisfaction.” George Lorimer
Other Quotes From the Chat with Sterling Shrout:
- “building a routine sooner: so now I get up at four a.m. …and I’ve only started that in the last maybe six months… But getting up early, getting all my stuff mapped out for the day, I’m up before the kids are up so I can think with no distraction. With that routine…it all builds on itself. I wish I had done that immediately.”
- “Financial education especially. I ran out of money far before I ran out of ideas. There was so many things I didn’t know. Like I didn’t know how to get a mortgage or leverage equity in a home…”
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