Find a way to take your professional expertise and transform it into an endeavor that generates passive income.
As an internationally renowned educator and mentor, Dymphna Boholt has made it possible for thousands of her students to enjoy a prosperous future and achieve their short- and long-term financial goals. Drawing on her past experience as an economist, accountant, and property investor, Dymphna has written a number of articles and books on subjects ranging from asset protection to international investment, including “Protect Your Assets,” the first in a series of books focusing on the increasing litigiousness of Australian society.
Dymphna holds degrees in economics and accounting from Canberra University, and she has professional experience as a financial controller for diverse industries that include stock-broking, mining, liquor, and finance. Dymphna has also enjoyed previous success as an entrepreneur, having founded Active Financial Answers, a highly regarded accountancy practice that she has since sold.
After achieving exceptional results through property investing, Dymphna drew the attention of Dr. Dolf de Roos, a real estate investment adviser who generated international acclaim for his work with Robert Kiyosaki. Dr. de Roos featured Dymphna in his book, “Secrets of Property Millionaires Exposed,” sharing the strategies and principles Dymphna had utilized in achieving such immediate and impressive returns on her property investments. Now living on the Sunshine Coast, Dymphna spends her free time with family on a 32-acre property surrounded by a rainforest.
Where did the idea for I Love Real Estate come from?
I was inspired by the idea that I could help others in the same way I had been helped, so I founded I Love Real Estate as a way to share with others all that I had learned from my property investment experiences.
What does your typical day look like and how do you make it productive?
My days tend to be very relaxed, but I always leave a few hours blocked off each day for writing projects, investment projects, and mentoring.
How do you bring ideas to life?
The most effective strategy for me is to take a long hike along one of the creeks on my property until an idea begins to come into focus. I’ll sit for a few moments to sketch out an outline in my notebook before heading back the same way I hiked in, during which I try to further sharpen the idea so that by the time I reach my office it is close to fully developed.
What’s one trend that really excites you?
It’s exciting to see so many people getting serious about taking charge of their financial future.
What is one habit of yours that makes you more productive as an entrepreneur?
My goal is to work with exceptional efficiency over fewer hours so that I always have time for myself and for my family. This ensures I remain highly productive while also allowing me to feel personally fulfilled.
What was the worst job you ever had and what did you learn from it?
It wasn’t that the jobs were bad, it was just that it is unwise for anyone to enter into an agreement in which they must exchange their time for money. I learned that generating passive income is a far better approach.
If you were to start again, what would you do differently?
Perhaps I wouldn’t have been as successful if not for my early professional experiences, but I would have preferred to go right into property investing and mentoring right from the start.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
I constantly remind myself that entrepreneurship is supposed to be a path toward financial freedom and security and should not drain all of my time and energy. No one should be exhausted from working constantly without time for proper rest and relaxation.
What is one strategy that has helped you grow your business? Please explain how.
I freely share information through speaking engagements, articles, and books, which allows people to experience firsthand how much success they can enjoy through a few simple strategies and principles.
What is one failure you had as an entrepreneur, and how did you overcome it?
I failed to take even the slightest of risks early on in my career as an entrepreneur, but I eventually learned to trust myself along with my judgment.
What is one business idea that you’re willing to give away to our readers?
Find a way to take your professional expertise and transform it into an endeavor that generates passive income.
What is the best $100 you recently spent? What and why?
I bought a new set of binoculars for bird watching in the rainforest near my home.
What software and web services do you use? What do you love about them?
I love that the software I have in place makes it so much easier to operate at peak efficiency each and every day.
What is the one book that you recommend our community should read and why?
Anything written by or about Sir Richard Branson is worth reading.
What people have influenced your thinking and might be of interest to others?
Dr. Dolf de Roos and Sir Richard Branson have both been uniquely influential on my approach to entrepreneurship and investing.
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Mario Schulzke is the Founder of ideamensch, which he started a decade ago to learn from entrepreneurs and give them a platform for their ideas.