The School of Greatness: Ryan Serhant Reveals The MINDSET Behind His Billion Dollar Empire
Hosted by Lewis Howes
Introduction
In this enlightening episode of The School of Greatness, host Lewis Howes engages in a deep and insightful conversation with Ryan Serhant, the renowned Manhattan real estate broker and star of Million Dollar Listing New York. Ryan shares his journey from struggling to find his passion to building a billion-dollar empire, offering listeners valuable lessons on mindset, business growth, and personal fulfillment.
Finding and Aligning with Your Passion
Ryan’s Quest for Purpose
Ryan begins by discussing his lifelong quest to identify his true passion. At the outset of his career, he was uncertain about his direction but was determined to discover his "thing" that would drive him to extraordinary heights.
"I like subconsciously told myself one day I'm going to figure out what my thing is and once I do, everybody better watch out because I am going to go so hard."
— Ryan Serhant [00:00]
Multi-Level Passions and Business Alignment
Ryan emphasizes the complexity of maintaining multiple passions and the importance of aligning various business ventures with a core passion. He explains that while it's possible to have multiple income streams, it's challenging to sustain multiple high-level passions.
"You can have a career, a couple jobs, a couple hobbies, but everyone always has like their passion."
— Ryan Serhant [02:53]
He shares his strategy of focusing on sales as his core passion and building diverse businesses that align with this passion, such as media, education, and technology.
Building a Billion-Dollar Empire
Consistency and Capacity
Ryan attributes his success to unwavering consistency and the capacity to handle multiple roles and responsibilities. He discusses the importance of showing up every day with dedication and the willingness to take risks, even when facing failures.
"The harder I work, I make luck even easier to find."
— Ryan Serhant [38:05]
Creating a Multi-Faceted Business
Ryan delves into his ventures beyond real estate, including launching media initiatives and technology platforms. He highlights the challenges of scaling these businesses and the lessons learned from each attempt, whether successful or not.
"You're going to buy a lot of properties, and you're going to have to find the right people to help you build it."
— Ryan Serhant [07:25]
Learning from Failures
He candidly shares his experiences with failed projects, such as the apps Spaces and Universe, emphasizing the importance of understanding customer needs and being adaptable.
"Instead of me saying, 'Hey, I know what you need,' what I should have said is, 'What do you want?'"
— Ryan Serhant [09:04]
Real Estate Insights and Predictions
Market Challenges in 2024
Ryan provides an analysis of the real estate market, discussing why his initial predictions for increased home sales in 2024 did not materialize. He attributes this to high interest rates and delayed adjustments by the Federal Reserve.
"I thought we would see more home absorption this year than we saw in 2023. That didn't happen."
— Ryan Serhant [41:30]
Future Outlook for 2025
Looking ahead to 2025, Ryan is optimistic about market recovery with anticipated lower mortgage rates and increased economic stability. He predicts a surge in home sales driven by Gen Z buyers supported by baby boomer finances.
"In 2025, you're going to see rapid absorption of current stock and greater listing inventory than we've seen in the last three years."
— Ryan Serhant [44:03]
Personal Reflections and Work-Life Balance
Shift from Importance to Happiness
Ryan reflects on his personal growth, particularly the shift from seeking importance to valuing happiness. Turning 40 was a pivotal moment that prompted him to reassess his priorities.
"I've spent the last 20 years waking up every day to feel important instead of waking up every day to feel happy."
— Ryan Serhant [00:27]
Balancing Business and Family
He acknowledges the challenges of balancing a demanding career with personal life, emphasizing the importance of being present for his family and finding joy beyond work.
"There is nothing without being present. There's just that opportunity to be present."
— Ryan Serhant [62:18]
Lessons for the Future Self
Ryan shares profound lessons directed at his future self, focusing on enjoying adventures over tasks, the importance of relationships, and living a fun and fulfilling life.
"Take care of the work. The work takes care of you. You are the people you keep. Living a life that's actually fun."
— Ryan Serhant [63:53]
The Billion-Dollar Mindset
Influence of Billionaires
Ryan discusses how surrounding himself with billionaires has shaped his approach to business and life. He highlights traits such as thinking 100x, relentless consistency, and the willingness to take significant risks.
"They think about things at 100x. How do I build a business that can scale to 100 times?"
— Ryan Serhant [58:18]
Risk-Taking and Consistency
He underscores the importance of taking calculated risks and maintaining consistency, which have been critical in his journey to building a vast and successful enterprise.
"Why not just take a big swing? My life was fine as a real estate agent. I'm going to start my own company and make it a $10 billion multiple."
— Ryan Serhant [59:33]
Advice and Final Thoughts
Living a Life Worth Living
Ryan emphasizes that true greatness lies in being present, enjoying life's adventures, and maintaining meaningful relationships. He encourages listeners to focus on what truly matters beyond professional success.
"You're never going to remember your tasks. You will only remember your adventures."
— Ryan Serhant [62:03]
Definition of Greatness
When asked about his definition of greatness, Ryan defines it as being affirmed by others and making a significant impact through public acknowledgment.
"My definition of greatness is not self-reflective. I think I'm great if everybody else affirms my greatness."
— Ryan Serhant [66:06]
Supporting Ryan’s Journey
In closing, Ryan invites listeners to support his endeavors by engaging with his content, following his ventures, and embracing their own paths to greatness.
"Just be my friend, see me on the street, say hi. If you're in real estate or in sales, you can find us at sirhant.com."
— Ryan Serhant [62:18]
Notable Quotes
-
Determination to Succeed:
"I'm going to go so hard."
— Ryan Serhant [00:00] -
Overcoming Fear of Failure:
"People are no longer afraid of being failures. They're afraid of being embarrassed."
— Ryan Serhant [00:27] -
Embracing Mistakes:
"I have to give myself a lot of room to make those mistakes."
— Ryan Serhant [07:25] -
Work and Happiness:
"I feel happier today than I definitely did for a good period of time."
— Ryan Serhant [23:25] -
Life’s Adventures Over Tasks:
"You'll only remember your adventures."
— Ryan Serhant [62:03]
Conclusion
Ryan Serhant’s conversation with Lewis Howes offers a rich tapestry of insights into building a successful business empire while maintaining personal happiness and fulfillment. His emphasis on consistency, risk-taking, and aligning business ventures with core passions provides a roadmap for aspiring entrepreneurs. Moreover, his reflections on balancing work with personal life and redefining what greatness means serve as powerful reminders of the importance of being present and enjoying life's journey.
For those looking to unlock their inner greatness, Ryan’s journey exemplifies the blend of relentless hard work, strategic thinking, and personal introspection necessary to achieve monumental success.
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