Episode 103: From Having an Active Job to Having Passive Ownership of Everything with Jeff Cohn

For most business owners, success means financial gain.  And the more time and effort they put into their businesses, the more money they make. Yet, success in this business means getting more life back for some.  If your business requires you to have an active role in its day-to-day transactions, it becomes your job. Business owners should aim to build a business that they can one step away from and will generate long-term passive income for themselves. Brian Charlesworth joins Jeff Cohn, Owner at kwELITE, as they talk about building businesses that will eventually require minimal active participation from the owner, how Sisu plays an important part in achieving that goal, and how to ensure brokerages thrive in the future by expanding into ancillary businesses. Top Takeaways:

01:49 What Jeff loves about Sisu 07:29 Jeff’s greatest passion 11:05 How true leaders serve 11:48 Why he launched The Team Building podcast 13:19 What the Team Building Summit is about (and how to get $100 off on tickets!) 24:00 Three ways for individual agents to win  25:39 The evolution of ownership 26:48 Where is the industry going in the next five years 29:54 What brokers need to do to survive in the future 32:29 How to make consumers convert to using your ancillary services 33:22 What can small team owners do to start building ancillary businesses 35:58 The magic of getting agents to support ancillary businesses 37:43 The role of future agents Get in touch with Jeff Cohn

Website: https://www.theteambuildingsummit.com/ Instagram: @JeffMCohn Podcast: The Team Building Podcast

About the guest:

Because of his early entrepreneurial aspirations, Jeff Cohn owned and operated many enterprises and earned his Eagle Scout award - before he finished high school. His two years spent working as a missionary in a remote part of Brazil served as an added proof of his tenacity. He then took up Business Administration with an emphasis in management from the University of Nebraska at Omaha.  Jeff got his real estate license right out of college in 2006 and spent his first six years selling real estate full-time.  In 2011, he made more money than he had ever dreamed of, but he realized he wasn’t living his best life. He was spending too much time in his active role that he didn't have much left to do anything else.  He learned that if he fired himself and replaced him with ten more people to do his role, he could make more money with less time and energy. In 2014, Jeff stopped selling and built a team called Omaha's Elite Real Estate Group.  The team grew from 70 to over 700 transactions a year in 6 years and was the #1 team globally at Berkshire Hathaway HomeServices in 2019. Today, Jeff is a nationally renowned speaker and host of The Team Building Podcast.  He is also the CEO of a tech-powered Keller Williams market center in Omaha, NE. His passion for providing exceptional service to his clients propelled him to establish ancillary businesses in Title, Mortgage, Insurance, and Investing. His objective is to expand these ancillary businesses into 100+ locations across the country.