August 23, 2022
Episode 148 – Stephen Jagger – Mastering Solutions to Make a Difference
“With addy, we get amazing messages every day from people that are so excited and so proud to own a piece of this building and it’s more of a life-changing thing than I’ve ever experienced before with this type of a business. The addy community is unbelievable.” – Stephen Jagger
- Selected links and people mentioned from this episode:
- Sociable! by Shane Gibson & Stephen Jagger
- Rich Dad, Poor Dad by Robert Kiyosaki
- Entrepreneurs’ Organization
- Radical Candor by Kim Scott
- [02:08] Patrick introduces his next TEDM guest, Stephen Jagger.
- [03:32] Stephen & Patrick get right into it with what’s keeping Steve busy in his work world these days.
- [04:44] Invest in real estate with $1? Stephen explains a bit about he his partner’s software platform “addy” that enables Canadians to invest in institutional, commercial grade real estate for a dollar amount that is accessible for them.
- [08:14] Stephen provides a bit more detail into how a person would get started with addy first by reviewing (and a third-party review!) the Offering Memorandum to inform their decision on whether it’s an investment that could work for them. With an average investment around $350, Stephen gives an overview of how it would look to invest $10,000 through the addy platform.
- [15:31] Focus on the vision. Stephen tells the story behind why and how he and his long-time business partner Mike, conceived and created addy.
- [22:06] Stephen describes the unique benefit of providing an investing model that allows people to take pride in the fact that they own a small portion of a building like a Starbucks or a hotel and it also provides a beneficial edge for the general contractors they work with, to improve employee retention – hear why. Plus, with consumer choice available, why not go to your own building to support that business and then tell your friends and family.
- [25:45] Stephen walks us through the start of a 22-year entrepreneurial journey with his business partner Mike Stephenson, that started in high school, spent some time working from their bedrooms at parents’ house and continued to morph as they evolved into masterful problem solvers through the medium of technology.
- [35:01] Being raised in an entrepreneurial family with a good work ethic, from a young age, Stephen and his brothers were out finding ways to make money, soliciting their Calgary neighbourhood, shoveling walks in the winter and mowing lawns in the summer. Stephen was hard-wired to be an entrepreneur; literally! His older brother started his business from the same bedroom, so all Stephen had to do was get the second phone line and the fax line re-connected for the business he started with Mike.
- [39:08] Stephen shares what he’s learned about being in a business partnership for 22 years, the key to their success and working to one another’s complementary strengths.
- [42:24] Stephen and Patrick talk a bit more about the altruistic vision of addy and how Stephen and Mike endeavour to level the playing field for more access to asset investments that have traditionally been reserved for the wealthy who can write big cheques.
- [47:14] The real estate “gateway book” fueled Stephen’s fire, like many real estate investors, to get started on his real estate journey and with the first condo he purchased, he was hooked. Although more cautious than Stephen, his parents’ encouragement and support went a long way.
- [52:52] Wait, what? We’re moving to the Philippines? Once again, looking to solve a problem, Stephen, his family, and his business partner set out for a big change. Having the support of his wife was invaluable, and in the end also allowed her to flourish in creating her own thriving business which she brought back to Canada.
- [57:12] What lights Stephen up, what drives him to keep going and creating these monumental opportunities? It’s a multi-layered fire for sure.
- [60:02] Stephen explains the tools and supports he relies on to navigate the waters and the challenges of being an entrepreneur.
- [65:09] Taking money and wealth off the table, how does Stephen define success for himself?
- [68:44] Let’s jump into the fire! Recommended book; iPhone or Android; inspirational quote; favourite swear word; favourite band (good Canadian choice); room-desk-car; message at the pearly gates; self-care practice.
- [72:39] Stephen’s gratitude.