The Mastering Podcast

The Billion Dollar Brick: Small Daily Choices Build Wealth - Elite Sports, Sports Psychology and Wealth Creation | Guest Panellist Elia Hill

• The Mastering Team • Season 1 • Episode 4

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Elite athletes distinguish themselves through intention, commitment, passion, and natural hunger – traits that translate to success in any field, including wealth creation.

  • Former Tennis Queensland acting CEO Elia Hill's journey from playing tennis professionally to coaching and administration
  • The importance of curiosity and always asking "why" as a pathway to success
  • Tennis Australia's remarkable success as a sports organization built on exceptional leadership
  • How compounding works in wealth creation – laying one brick every day builds a wall over time.
  • Property investment strategies that don't require living on "beans and rice."
  • The gap between financial education taught in schools versus real-world wealth creation principles
  • Why saving for a large deposit can be counterproductive as property prices rise faster than savings
  • The effectiveness of off-the-plan property investment requiring only a 10% deposit initially
  • Importance of developing a wealth mindset rather than focusing on immediate gratification

From the tennis court to financial freedom, Elia Hill's journey is a masterclass in transitioning passion into purpose. The former Tennis Queensland acting CEO and our Mastering teams share how the mindset of elite athletes—unwavering commitment, natural hunger, and relentless drive—shaped her approach to wealth creation and helping others achieve financial independence.

"Every day, you decide that you're going to lay one brick," Magnus explains, revealing the power of small, consistent actions that compound over time. This philosophy underpins Elia's current role as Chief Growth Officer at Neustar, where she guides clients through property investment strategies most never learned in school.

The conversation tackles the seemingly insurmountable challenge young people face with average house prices hitting $1 million. Rather than traditional saving methods that can't keep pace with rising property values, the team outlines alternative approaches like off-the-plan investments where a 10% deposit can grow substantially during construction.

What stands out is the stark contrast between financial education and real-world wealth creation. "You don't learn about recycling debt. You don't learn about tax efficiencies," she points out, highlighting why many high-income earners still struggle financially while those with moderate incomes but smarter strategies pull ahead.

This episode bridges sports psychology and financial strategy, demonstrating how elite athletes' discipline, curiosity, and strategic thinking create a foundation for success in any field. Whether you're at the starting line of your financial journey or looking to accelerate your wealth creation, Elia's insights will transform how you view the building blocks of financial freedom.

If you got value from today's conversation, hit that subscribe button now and share this episode with a friend.

*The information provided in this podcast is for general informational purposes only and does not constitute financial advice. Please consult with a qualified financial advisor before making any investment decisions.

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Don Sanka:

difference between an elite athlete and an average person and a don.

Magnus:

Yeah.

Don Sanka:

Well.

Magnus:

Come on Give me something, but every day you decide that you're going to lay one brick. That's all you've got to do. It takes you 10 minutes, and then the next day you lay another brick, or by the end of the year you've built a wall.

Don Sanka:

The average cost of a house these days is what? A million dollars.

Lucas:

So how on earth so?

Elia:

I'm 20, how am I going to do that? But if they wait till they're 32 and they've saved all their money, buying a place in nascar is no longer a movie, and it's now exactly always ask why, yeah, yeah the strength of an idle question very powerful.

Lucas:

Pissed off many people in my time because I am too curious.

Magnus:

And then we go to school, yep yeah anyway, welcome to another exciting episode of the mastering podcast where we unlock the secrets and strategies for success. I'm the host, magnus olsen, and I'm joined by co-host don sanker and lucas meadowcroft. Today we sit down with elliot hill, former ceo of tennis queensland. Welcome to the podcast, guys.

Don Sanka:

So guys that was a really good chat. We just had Riley Day and Cedric Dubler talking about sports, life after sports and also, you know the the mindset, mental strength. That's crazy.

Magnus:

Absolutely crazy and we learnt that 400 metres is the toughest event in athletics. Should we share with the guys that Riley has only just made a decision? It's not gone?

Don Sanka:

public yet. Yeah, so she made the announcement on the podcast that she's made the decision this week that she's switching from 200 to 400. Wow.

Lucas:

That just gave me goosebumps. I guess, as a professional athlete, like they are, you've got to know where your strengths are, and if you're not getting to a point in your career that you're not competing or winning like always, getting a top one too then you've got to make a decision at some point, right.

Magnus:

Hers was actually driven by injury and they're saying that because of all the injuries that she was receiving doing the 100 and the 200, she's made that decision now, thinking that from a physiological perspective that moving into that 400, she's going to get less injuries. But after listening to Don go through what the pain barriers that you go through, I'm not sure that she's going to have.

Don Sanka:

I think she's ready for it. But the biggest thing is like one of the biggest insights we got from the two athletes is the difference between an elite athlete right and a don and the average person.

Lucas:

And a don. Yeah well, I used to be an elite athlete at one point.

Don Sanka:

Come on, give me some credit.

Magnus:

He trains like that. Yeah, it's intention. We also found out that it's intention that matters right.

Don Sanka:

So I have the intention of no, I don't call myself elite, that's elite. That is the difference.

Magnus:

I'll just let me chime in there. Like as a 48-year-old, I think it's a big difference that when you're 25 years old and the training they do and then you compare that to the training that you do as a 48 year old, I still that's more professional.

Don Sanka:

Yeah, I still do the same training, I can tell you that. So the intention has to be there, but it's the resilience and and what keeps these guys going and and what makes them make decisions that sound absolutely crazy to the average person. I think that's what separates the average from an elite athlete, right?

Lucas:

super excited to listen.

Don Sanka:

Yeah and yeah, ellie I've got to ask you you you've been around elite athletes all your life right. So does that reflect across the board?

Elia:

It does. But I think it's intention is one thing, but the commitment and the passion and the want, it's just so natural. The hunger is there and you just see they want to win, they want to be the best and if they are the best, they want to be the best even more than the best. Like it's just something in them that they wake up and just go and I think that's just, it's not for everyone.

Magnus:

It's not, but what I found really interesting, particularly with Cedric, is it's very all of those multi um event athletes, just the camaraderie that they have between them. What they're obviously competing for two days together, but the individual camaraderie that they have and the sportsmanship they throw throughout um their own circle is incredible.

Elia:

Yeah, I think it's their family, though. That's their support network.

Don Sanka:

But it keeps going. As an individual, that's what surprised me For someone to keep missing the team year on year, on year three years and then to come back and say, no, I'm going to, instead of giving up, I'm going to switch to the hardest event on the schedule and I'm going to have a crack at that, Like that's you know Determination yeah. Like, who's as an example in your world, who would you say would the?

Elia:

I mean, we've all recently seen or heard the Yelena Dokic story that was on Channel 9, and she went through some really tough times and she came back as herself, without the family I suppose circle around her and from memory there's a piece in the doco that says this now is the fight of my life. I had to use that resilience, I had to use what I had to be the best back then to be the best again. So you know that's an example of you know she went through some tough times and then she said, no, I'm going to do it again. And she did and she, she beat all the demons and she came back and, you know, came back on Rod Laver Arena and she had the crowd behind her and in her own terms in on her own terms.

Elia:

So I think, think the most you know that jumps to mind would just be that doco that we just saw on her. That was pretty amazing.

Don Sanka:

Tell us a bit about your background. Tennis has been part of your life. Yeah, first time you're joining the panel yes, thank you, welcome home, thank you.

Elia:

I think I'm in safe hands, Absolutely you are so.

Elia:

Yeah, I for some reason loved tennis and I remember I used to beg my grandmother to take me down onto the court because no one else would play, and she did. And then for my seventh birthday all I wanted was a tennis racket. And I don't know why, because no one played tennis in my family at all. And I didn't get one and I was devastated and they just thought, okay, she actually might like this sport. So my grandmother then gave me some lessons and I still remember that feeling I had when I had my first lesson. I thought I want to do this all the time I was seven and I just loved it. Then I had lots of lessons, played fixtures and tournaments, loved it. And then my parents said, oh, we'll get a half court at the house She'll never play. So that half court now has a big titan shed on it.

Elia:

My father says it was the best investment from a concrete slab, because concrete is apparently very expensive right now and um and him and I used to play that all the time, like all the time, and I just just loved it. So for me it was a part of my life, it was a way of living. All I wanted to do was be a professional tennis player. All I wanted to do was just play every single day that I possibly could, and I was really lucky, I was really supported to do that. So around the 12 13 mark you start playing national events and every holidays you had to make the top I want to say 32, but it might have been 64 in the country to go and play these national events and that's where your friends were. So every weekend you'd be playing to get points to go to that national event and if you didn't go it was just the end of end of the world. So you did everything you could to make sure you were the best to be at that event, but also you just wanted to be there. So you did what you needed to do at school so you could play, and I'm sure my parents held over my head many a time. Well, if you don't do this at school, then you can't play. But because I love the sport so much they actually say we didn't need to. You know, you you think that they did, but they said we didn't need to do that. That was just. You naturally got stuff done because you just wanted to play the sport.

Elia:

So I um did a lot in high school. I somehow got through high school with a lot of support. Um, I was really dedicated to my studies. You know, I'm from the Sunshine Coast. I went to school in Brisbane two hour travel there, two hour travel home. The train got a lot of books every day. Then I went to school in Brisbane Two-hour travel there, two-hour travel home. The train got a lot of books every day. Then I trained in Wynnum. So I went to St Paul's at Bald Hills my parents were at Bribie, went to school at St Paul's and I trained at Wynnum so I'd get picked up at ten past three. The triangle, yeah.

Don Sanka:

What did you do in the two hours Like so iPhone?

Elia:

Yeah, well, discman, discmans were a thing, and then when your battery ran out you put it onto AM radio. That was a thing, definitely.

Magnus:

Read your textbooks.

Elia:

And I did a lot of homework and I had to get the early train and my friend used to like to do her homework as well. So I kind of and I think you know, for you guys you know particularly Don and Lucas, you know me well I've got one minute to do something. It's not, oh, I've only got a minute, I won't. So I think I just learned to fit a lot in and it probably means that I'm literally right on time all the time. I'm never five minutes early because I take it up to that last piece. So when teams came in, I was like right, I can get so much more done in my day than actual meetings getting places. So, yeah, so the travel was a big part, but a lot of kids did it from the Sunshine Coast and a lot of people still do it. So for me it's really normal to travel a long way to get somewhere. If you want to get there. That's just what it is. So I suppose, yeah, back to, yeah, loving the sport in senior and I back then I don't know if it's the same now. I think you could choose six subjects, but you only needed five to get through year 11 and 12 to come out with an OP. So I dropped a subject, had a spare subject to spare timetable to do some work and I was traveling a bit just playing, but the whole time and really supportive school and first year out of school I then said, right, I want to give, I really want to give this a go.

Elia:

Unfortunately, not too long after that, probably about 18 months, I really lost the passion for the sport and became quite anxious and just really wasn't enjoying competing anymore. What do you think triggered that? I don't know what the trigger was, but I just remember I was in Home Hill, where they have this amazing tennis centre, and it was what we call a satellite tournament. And look, I was just giving it a go. By no means I was winning this stuff, I was just giving it a red hot go as best as I could. But the lessons I learnt in sport for me are, I think, what's got me here today. And I remember I was being billeted out because you were allowed to back then and I thought, jeez, I hope I.

Magnus:

I've never heard that term for ages. I know, right, that's how old I am. I still don't know.

Elia:

I am old, we'll tell you later, and I remember thinking I just want to. I don't know I think I want to know now. So, effectively billeting. So let's say, the kids go to Toowoomba for a soccer tournament and they'll stay in a hotel.

Magnus:

When we Lucas would put his hand up, I'd put my hand up you'd put your hand up, would take the kids in One of the other family members of one of the other kids would take on somebody else that's a child. So if you lived, in Brisbane and there was a tournament and it was coming from Toowoomba. You would let one of the Toowoomba kids stay with you. Yeah, oh, okay, yeah, doesn't really happen anymore.

Elia:

It's a great concept, it, I think rules and stuff got in the way, but that's okay. Um, yeah, maybe he's like airbnb for your child or there's a room or something. But so, yeah, and I just remember thinking I, um, I'd rather be injured than play today. I'd rather be pushed down some stairs, I need an excuse to not play. And I went out on court. I remember I lost that match two and two. It's somewhere, somewhere written down, and the whole match. I just felt sick. I thought I just don't want to be here anymore and I was like, right, I'm not gonna, I'm not gonna play, so that's 18 months out of school.

Magnus:

So what you were?

Elia:

18, 19 yep and I just I don't. I probably haven't thought about how I got there, but that's what I remember. And I said to my parents I really don't want to play anymore, I think I'm done. And they were just like what do you mean you're done? Like what do you? And I said to my parents I really don't want to play anymore, I think I'm done. And they were just like what do you mean, you're done? Like what are you? And I said I just I'm really unhappy. And it was tough for them because they'd given up so much. You know my sister's seven years younger.

Elia:

She, I remember mum would put her in the car asleep and take me to tournaments at UQ and she'd have her breakfast in the car watching me play all day. They were amazing in the way they supported me. But I just didn't want to do that anymore. So a little bit of time off. And then I thought, well, I could go to college. I was looking at going over to Arizona, but I really it wasn't right, but it was an option. And then my coach at the time said why don't you just come and do some hours just to see what you feel about coaching and just till you figure it out what you feel about coaching and just till you, you know, just till you figure it out, and I instantly fell in love with being on court and helping people become better. And I think that's taken me into my life now, because what I do. Who did you start coaching? Was it kids? They were just kids.

Magnus:

Yep.

Elia:

And I still I love to coach.

Don Sanka:

I didn't know that you were a coach.

Elia:

Yeah, yeah, how I got here. It's a long journey. We got a long time right, that's like my life story.

Magnus:

I'm not sure how I feel about it, but um but yeah and I am.

Elia:

I was really grateful to that coach, um, and the people around me. And you know, back in those days you'd go to your, your coach or someone you really respected and say, look, can I do some hours with you? I want to get better.

Lucas:

That's a bit different now, and um, you love being back on court, but not for yourself, for someone else. Yeah, something that triggered you, yeah it just wasn't wasn't for you personally, but helping someone else to achieve their goals was for you yeah, yeah and just I just a lot of sense now, yeah I just loved it.

Elia:

so I kind of went through all my levels and, you know, had amazing people around me and you know you, you work six days a week and you Maybe just expand on that.

Magnus:

So what do you mean? Level? So obviously the level of coach that you are.

Elia:

Yeah, so back in the day there was like level one which was like a junior coach, level two which was a little bit more of a senior coach, and that was kind of it Now. Tennis Australia.

Magnus:

So how do you get from level one to level two as a coach? You have to pass.

Elia:

You have to go into what's the highest level. So now it is High Performance Coach of Tennis Australia and they have the most amazing education platform for coaching. You know, I just you know I was a facilitator for some time where I would coach coaches and be in the education team and again, I loved giving. Like there's this something in me that I love to help and give, and the more you get to know me and my story, that's been the consistent bit of me, I suppose. Yeah, um, so back then it was a level one coach and it was on a Tuesday night.

Elia:

You go to UQ and you learn and they were the people you grew up around and you loved doing it and your friends were there and I did my next level and I thought this is pretty good and, um, there was an opportunity to to travel and I thought I'll put my hand up for this job. It was in a newsletter and it was in Thailand and I thought I'll put my hand up for this job. It was in a newsletter and it was in Thailand and I thought, oh, I'm 21,. There's no way I'm going to get an interview. Cut a long story short. Got an interview and moved to Thailand at 21 to coach at an international school.

Magnus:

Were you a surfer.

Elia:

No, no, I like the beach, but I wouldn't say I'm a surfer. Not that I don't want to what was the drawcard for Thailand at 21? I think I'm really quite lucky. My dad's British and my mum's of an Italian descent, and I was always brought up to leave, go and see the world. Brabbey Island is a beautiful place, but this isn't it.

Elia:

I was just really encouraged to and I'd done a lot of like from 12. I was travelling, so I had done a lot and I'm a very independent person. I remember being at the shops and I was like 10, saying I can't wait to do my own shopping, I can't wait to buy my own groceries. I was just this kid and all these things, all these pennies, will be dropping for you right now, don. You have no idea how much groceries cost. But yeah, yeah, exactly, yeah, probably didn't think about that. Um, and I was always I was. I was a worker. You know, my, my mum's side had a hotel and, um, we all worked in that growing up and I was like, well, I love to work and I love doing this and I've been told to leave. You know, go and get a go and see the world. Don't stay here, even though I went to school in the city, and that was, you know, 20 years ago.

Magnus:

What does your dad do?

Elia:

My dad's retired now but he was a fireman Fireman and he was a fireman at 18, 19 in London. It's before breathing apparatus, before all the stuff. That's safe and he just loved his job. He loved it more than anything. Siblings One younger. She's a sommelier by trade, so a professional of wine wine and food she doesn't mind a drop, but she's… Someone who gets paid to drink, well, she serves now and matches menus and makes sure that you have the best wine list ever and a plug to Moscone's, which is the most amazing restaurant.

Elia:

And she just loves it there. So she's travelled the world being a sommelier and she could you know she'll hear this like she could have done anything, but she just loves. She loves serving, she loves wine, she loves the education behind it, the science behind it, like her passion for it. So for some reason we both fell into things that we loved. We've never, I would say, worked a tough day. We've loved waking up which is really cool.

Magnus:

So when did you transition from tennis coaching to what was the next thing?

Elia:

Tennis coaching to then going to the administration of tennis. So I was in Thailand for some time and this might be for another podcast. I was there on the 10th of December and the tsunami came on the 26th, so that was an experience holistically.

Elia:

Um, yeah, amazing, and our story for another time. So the world kind of changed a little bit. Um, that day, as it did for everyone, not just me, and I was lucky to, you know, be in a safe enough place. I came home for a little bit after probably 12, 18 months. There, did some more coaching here, traveling with higher players, and then my coach, who got me coaching, said hey, how about you come over to Hong Kong? And I said no, no, I'm not coming over anyway. The third time he called, I said okay, I'll go over. So I went to Hong Kong for a while and then when I came back, that's when I went into the administration of tennis. So Hong Kong was still coaching, coaching and travelling. Yep, amazing, loved it. Yeah, very lucky again, like the sport's done a lot for me.

Magnus:

So how old were you when you started in the administration of tennis?

Elia:

I was 26-ish around there, so late, I would say For me. Compared to that, we've got these amazing young people coming through now that are a little bit younger in that role. And there was a role for Brisbane participation effectively. And someone said are you going to go for that job? And I was still coaching and I said, no, no, I can't do that. I've just been brought home by this coach. I'm very loyal, I can't leave. I. I've just been brought home by this coach. I'm very loyal, I can't leave.

Elia:

You know, I'm working for him now and they said, well, if you don't apply for that job, you're going to hit balls for a really long time and I don't think you want to do that anymore. And I thought, oh, I'll give it a go, got an application in and c'est la vie. Fifteen years later, I sat in lots of deck chairs, had the most amazing career and had 15 years yeah, long time. Tennis for that long, yeah. So, and, to be honest, I probably have never really left I've. You know, I finished as the acting CEO in of tennis Queensland. I thought, right, I want to go and look at some different things now and I love that space. But I still stayed really close to one of my mentors at Tennis Australia and the tournament at the Brisbane Internationals.

Don Sanka:

So how was was that transition from you know? You were still. Whether you're a coach or whether you're an athlete, you're still a sports person right, yeah, yeah, yeah, and that's a big difference, like going from that to a corporate life.

Elia:

Yeah.

Don Sanka:

It's a transition and that's something we talked about with. Cedric and Riley, and that's at some point you've got to realise, okay, well, I've got to grow up. Is that what you felt?

Elia:

I was ready to get off court. Is that growing?

Don Sanka:

up. Is that saying financial security, or what was it? It's a transition.

Magnus:

I did the same thing going from being on the tools and then going into the office Like there was a time where I've had a gut full of actually… you just have enough …and everything you just have enough.

Don Sanka:

Let I've had a gut full of actually you just have enough, and everything you just have enough, let's move into an industry. So you're saying it's no different to anyone changing jobs. No, it's a transition, yeah.

Elia:

You're just ready. What are your most proud of it?

Lucas:

also sounds like what you said before is someone else noticed that you were ready. Yeah, before you noticed.

Elia:

Yeah, because I thought there is no way I can be home for three months and they've offered me a really good role and I'm like, oh, by the way, I'm going to go now. That just doesn't. It's not in my DNA.

Magnus:

What are you most proud of that you achieved during those 15 years?

Don Sanka:

Oh, Dennis, Australia's got to be one of the most successful sporting.

Elia:

Yeah, they are amazing Codes right.

Don Sanka:

Like you talked about the misgivings of track and field and athletics in. Australia, but tennis seems to have done a lot of things right.

Elia:

Yeah, oh, that they have.

Don Sanka:

Australia Open Starts at the top.

Elia:

Yeah, we've got an amazing leader. Craig is amazing, you know. Cam at Tennisland is amazing and spent, you know, a lot of time, you know, working with craig and others around him. Tom lana, the chief tennis officer at tennis australia an amazing leader, um, and I don't I'll go to one of my most proud of, but I am when I say you know my journey and how I've got to here, I I'm just so grateful. I just don't think I would have learnt what I'd learnt, or be who I am or been stretched the way I was stretched, like my gratitude for my time in sport and particularly tennis. I think I'm just so lucky and now I'm in a completely different world now, but it's all the skills I learnt there that are over here helping people. But how did tennis?

Don Sanka:

crack the code. The reason why I'm asking is because you're talking about the fact that we don't have enough eyeballs. We're Australia, right? We're so far away from as a continent. We're so far away from everywhere. Our athletes have to travel so much further to compete with the rest of the world.

Lucas:

Yeah.

Don Sanka:

And the commercial opportunities are so little.

Lucas:

Yeah, and it could have been any sport in Australia, is what you're saying, but tennis.

Don Sanka:

Correct and the tennis players have the same challenges right that any other.

Magnus:

Just elaborate on that. What has tennis done so differently to be successful compared to some of those other caves?

Elia:

Well, it's become a destination for tennis Sport tourism 1.2 million people went through the Australian Open gates this year.

Lucas:

But even if you listen to the athletes that are coming, like the international athletes coming to Australia for the Australian Open they say I love playing in Australia.

Don Sanka:

I love coming to Melbourne, and it's not just the Australian Open, it's the whole circuit, right they? Come to compete in the whole circuit. They don't just come to the Australian Open.

Elia:

Was that strategic? We need to make sure the summer is set up for many things, not just one, yeah, but I mean as far as tennis is concerned.

Magnus:

Was that a strategic move to be able to let's become this world destination for tennis players?

Don Sanka:

But how did tennis become part of the world schedule, right? That's one of the biggest things Every one of these sports have, that If you look at track and field, right, there's a world tour but Australia's not there.

Lucas:

Well, Sydney just become the world major. For a marathon it's taken 20, 30 years.

Magnus:

To be part of that. Like the Boston Marathon or the London Marathon, it's now number seven in the world.

Lucas:

Yeah wow. The first year is only this year. But how do you do that? Well, it took them three years to get through the approval process. Okay, so there was an approval process.

Magnus:

Yeah, correct. And what did tennis do Like? How long has Australia been hosting that Open?

Elia:

We've been hosting it for goodness, decades and decades to come, but I think it just comes down to we've got amazing leadership. You know the leadership and the, the foresight, that um that our leaders have there, and you know it's. It's also a. It's a flywheel. You know the Australian Open is incredibly important um that also allows us to give back into grassroots and help. You know the talent and the talent and the future of tomorrow.

Lucas:

So I guess the don's question yeah were you originally when you were at tennis Australia or tennis? Queensland were they already in Australian Open yeah, yeah, yeah, absolutely.

Elia:

The Australian Open's been around for a significant amount of time.

Lucas:

Yeah, it's a to Don's question which was was it a strategic direction from a?

Elia:

leader inside.

Lucas:

Tennis Australia. We 100% want to be on the world map. What activities do we need to do to get there?

Don Sanka:

That's essentially what you're asking, that is. Yeah, I'm trying to figure out. Why hasn't it been replicated by other sports?

Lucas:

in.

Don Sanka:

Australia right, we're a sport country.

Lucas:

We are right. We're a sport country. We are right, we love celebrating sports.

Don Sanka:

If you can compare something similar, it would be the Formula One, right? Yeah, we're a small country, but it keeps coming back.

Elia:

Yeah, look, I think, the ingredients there's a lot of them and there's probably someone better to answer it than me, but the thing that I really saw, we will find one?

Don Sanka:

Yeah, we will find one, but I will say the one thing.

Elia:

You go to the AO and the tennis is really important Great. But the family activities are phenomenal the music opportunities, the food and dining opportunities. You can go to the Australian Open and have a fine dining experience and not watch tennis. You can go there and just go on the water slide with your kids. You can go there and just watch a concert. There is so much to do at our event and that's just grown over time.

Don Sanka:

All those opportunities come from the back of you. You want to make the athletes travel here right from the other side of the world.

Elia:

It's a long way away, you make them want to come.

Don Sanka:

You make them want to compete.

Lucas:

Or bring their families Correct.

Don Sanka:

So there's how do we do that? That's what like. If we can do that in one or two sports, we should be able to replicate it in every sport.

Elia:

It's not that we have a lack of talent. There's lots of things that have made made up to it.

Lucas:

I don't think it's a one sentence answer it sounds like it's taken 30 years to get to that point, right? So, and every year it just gets stronger and stronger but again, I think, the leadership though is unbelievable, it's just unbelievable I think that's yeah so what about now?

Elia:

what are you doing now? Yeah, so now, um, so I'm really lucky. I, through tennis, I met a gentleman called Michael Wilkins and I did a bit of work with, at the time, djokovic's strategy coach, an Australian guy called Craig O'Shaughnessy, and just did some speaking work for him. He did speaking moments, whether it be in a boardroom or in a classroom or wherever it might be, and he's an amazing speaker.

Don Sanka:

I think you're downplaying. Last time I heard Craigig shanicey speak he actually said he wouldn't be where he is without elia. So yeah, that was yeah, it was.

Elia:

Yeah, we've. Um, we met through a coach's conference a long time ago and I just thought he had a great story. And one day I got him to speak for me because I was in a bind and I said look, can you come and just talk to people around? The strategy of tennis.

Don Sanka:

Tell us a bit about what he did, because you know I was there when he was last time, in Australia too.

Elia:

Yeah, as in how it kind of all happened, no what Craig's done like in terms of his sport.

Don Sanka:

Oh right, yeah.

Elia:

So effectively. If you know the movie Moneyball with Brad Pitt, he did that with tennis. So he started to understand the numbers and the data behind tennis, probably before anyone else had ever done that, and one of his stories talks around we understand how many double faults there are in a match, we understand how many aces there are, but no one had really started to understand the length of rally. So I I serve to you, you return that's two. I serve to you, you return, but it goes out that's an average of one. So that was a number that hadn't really been discovered before. And the long story short is after a lot of data and processing he found out that the average rally length of tennis is one. So would you work on your serve or your return? Your return? Now, growing up, we don't do that much on our return ever so when he serves in tennis gotten better.

Elia:

They're pretty amazing, so he he uncovered a lot there and now you know the strategy. Um, there's amazing strategy people throughout, um, throughout our sport, but he was a bit of a pioneer in that space. How old is he?

Magnus:

He'll kill me if he hears this.

Don Sanka:

He's got a great mind for a young man, so he's got a background as a coach?

Elia:

Yeah, he's an Aussie guy. He's a coach and, again, just loved the sport. He's actually a journalist by trade, so he can speak and talk and write and the way he tells a story and is able to articulate what he can to the players is pretty special. So Craig was effectively he was presenting at a dinner at the airport and Michael was at this dinner and I brought a tennis friend and my tennis friend said hey, wilco, and I'm like how on earth do you know anyone here? This is not a tennis event Like this is a corporate event.

Elia:

And then I met Michael and understood what they were doing effectively through strategy and and property and psychology and started to say, okay, I think, I think I like this. I'd always been interested in property. I wanted to understand more how you can create wealth through property and strategy, and that was kind of what their business was. And then just over time, started to understand a little bit more. And the company is called Newstar and around a year-ish ago, what are we now? What month are we in? February, february, so maybe, yeah, just not even that maybe May-ish.

Elia:

They said we'd love to expand our business and we'd love to grow our business and have more partners and we'd love for you to come on as our Chief Growth Officer. So that's what I do every day for them and effectively they help people have a wealth creation strategy through property. The front half of the business is through psychology and strategy and making sure that you've got a team around you and you're ready for the day you don't work anymore. And how do we make sure that more people have that opportunity? And then Michael, who I spoke about earlier. He finds the property across Australia. So we spend time with people and ask them who they want to be, what they want to be, what they'd like to have, and then we put a strategy in place around property to help them do that with their external team.

Don Sanka:

Do you have to be rich to be able to? How much? Why do you have to be?

Elia:

No. So really, you're looking at how do you invest and for us that's off the plan, and off the plan is very different to going to buy a house down the road. That's hundreds and hundreds of thousands of dollars that you need to have to be ready for that, so off the plan is very different. It's around making sure that you buy in a great spot and you have all the demographics behind you and all the research etc. Which we do at new star. We make sure we give you everything, because I know how busy you are and you are, and I assume we'll be, for you're gonna have time to do that yourself.

Don Sanka:

So we have heaps of time we effectively get all. He's one of them, he's done everything right, so he can know, he can tell yeah.

Elia:

But effectively we just the team around you gives you all of this stuff that you don't have time to go and do yourself, and then you can go and make some great decisions. But when you buy off the plan, it's a much smaller deposit that you sit on whilst it's being built and then, when it's ready to go, we help find renters and then you are able to use that equity for something else now capital, capital, capitalize on the uplift in that process.

Don Sanka:

Yeah, maybe you should talk to some of those sports people, yeah and you don't think just quickly.

Elia:

And the part that I love about this is why again as a helping yeah, you don't learn this at school, like I am married to a business teacher and we don't teach that. So not saying it's the only way, but to know that there is a way to get in. And it might be two or three properties for your lifespan, it could be 20, it depends on where you are. But you just have to be ready and be strategic and make great decisions and the team team that we put around you will do that.

Don Sanka:

It's crazy, right? You don't get that education.

Elia:

Nope.

Don Sanka:

Wealth management, wealth creation? You absolutely don't.

Magnus:

And it's formed off literally the basis of compounding.

Elia:

It's compounding equity. Yep, yep, compounding is just a word that's not, people don't think about it's putting little seeds down.

Don Sanka:

You only know it in a negative condensation when you're talking about a mortgage compounding is bad.

Elia:

Yeah, yeah and the benefits of off the plan, like from a tax perspective. You know people when you talk about super and you say you know what's super like I don't know, Do you have a self-managed super fund? What's that? And they could. So we just help people think differently and we just do property. That's all we do and put them in control.

Lucas:

Yeah, well, it's more of a strategic conversation, not an emotional, because most people buy property emotionally. Yeah.

Magnus:

And this is a removal of emotion from it. I think you buy your personal place of residence.

Elia:

That's bought with emotion but then other properties should be bought commercially. Yeah, and that's the part. You know where you then purchase. Let's just say you bought everything in perth. Well, what happens if something goes wrong? What's your diversified approach? So and this is again these are just all the amazing questions. You know, nick um, who's the front half of the business, that that he just goes on a journey with you and understands you, and that for me that care factor is so important and it's only then and if and when, if that's right for you, we've got some really great solutions. We don't say no to anything else, we're just really good at that bit.

Lucas:

I have to ask what does a chief growth officer do in a daily role?

Elia:

In a daily role. You have this conversation a lot Education, yeah. People say, you know what does New Star do? And I'll say, okay, don. So when would you like you think you'd like to retire? Okay, 50, okay, two years from now Two years.

Magnus:

Two years from now. There's still time.

Elia:

What is when the salary gets turned off, are you okay? And then people kind of start to think a bit more and you have a very light conversation around that. Go, no, okay, well, what have you? Have you thought about it? No, okay, well, maybe you should have a think about a bit of a strategy. I'd love to, okay, go and meet Oscar and Nick and then they have that discovery session with you. So that's from an individual's perspective, but a big focus right now is around our partners. So, working with whether it be we could come to Dessert, for example, and say we would love to present to your graduating cohort. So how do we talk to many people? Via a lunch and learn, or via a seminar we present on? Hey, this is just some things to think about. Here's some success stories. If you're interested and we can help you, let us know. So it's either an individual person or it's going to be around. Hey, we'd love to get in front of a lot of people, um it could be sending this, having this conversation one-on-one compared to one, to many in

Magnus:

those organizations make a lot more commercial sense for you guys as well. Yeah, it does help more people.

Elia:

Yep, honestly, we are just this really amazing helping business. We change people's lives through just thinking differently. And you know, you don't have to be on a crazy amount. You just need to be diligent and be ready and we can help you.

Lucas:

And transfer your mindset from spending your money to putting money into an investment.

Elia:

Well, it was funny. I met a financial planner the other day and I said to him you know, this is what we do. And he said gosh, do you know how many traders I say don't buy a jet ski to? He said three jet skis. You can go and help them a little bit more. And I said I absolutely can.

Elia:

So, but they don't know any different. And just to have another way to think, and and just to have another way to think. And that's where Nick is just phenomenal how he shifts people's mindset into high performance.

Lucas:

This is very much a mindset conversation.

Elia:

It's just incredible and I think I'm again my gratitude towards the team.

Don Sanka:

I'm a much better person everything person than I am how challenging is it Like you've got this fast-moving consumer goods mindset?

Elia:

It's a long term.

Don Sanka:

Yeah, but when?

Elia:

you wake up in two years' time, or us 20, we will be so grateful for having that mindset and being offered the opportunity to have that mindset Starting now. And that's what we do.

Magnus:

But it's come back to. People are not thinking about that whole compounding. We live in an instant gratification, which is why people I want to live here, I'm going to rent this and I'm going to do this they don't want to forego anything now for something better in the future. And you don't have to forego everything, like you said. It might just be that jet ski conversation, but you're still having all this. But it's the smarts, the people I know that earn stupid money and then they spend stupid money. Then you've got someone else that just earns okay money and then they just live wise and they're smart with their decisions and they're 10 times further advanced, 20 years down the road, than the guy that's earning stupid money because he's got a stupid money lifestyle as well?

Elia:

Oh, absolutely. And you know we're doing a lot of work with expats. You know we spent some time in singapore. We've opened up up there and you know I've been an expat. And you go overseas and you forget about your super and you forget about your house. You come back and you've got it. So I could have found the love of my life over there, got married and come back when they're in high school. I'll come back to what I had, with no super and I probably can't get the job that I had because I've left something high to come home and, oh my gosh, that's not really what I want to have. So, what again?

Elia:

The strategy we have with our expats, and we've got, you know, lots of testimonials, like it's all on our website. We've got a YouTube channel as well. You know. So people can. We're sharing these stories and you know we've got one amazing client who, back in 2020, said I want to make sure that I can come back and we'll be in a great position. I think he's 12 properties in now and it's just by planting those seeds and making sure that he's thinking about home, and all we do is have the conversation of have you thought about? So I might say, don, you've been in London for 10 years. What have you sent home? Have you thought about home? No, well, you're going to be here for another 10 years. Yep, you're going to do the time anyway. You're going to get to 50 anyway. Let us help you. And Don goes, okay, so it's not too late. It's just the time to think about it and have that moment. And the last bit there I wouldn't be stupid enough to live in London.

Elia:

And the other part here and I know Nick would love to come and meet you all. He talks about the knowing and the doing gap. I know what I have to do.

Don Sanka:

Yeah, it's a good time. Do I do it? It is a good time for this conversation right, because we're in one of those times in history when there's a lot of uncertainty, also when it comes to financial literacy, I think people are at a loss right.

Magnus:

Like it's lowest it's probably ever been, mainly because the stupid thing is it's so. The fundamental principles of compounding have been around since the dawn of time. I love that word compounding. Yeah, yeah. It does, but that's the thing One of the best books if you want to read. A great book on compounding is called the Slight Edge. Okay, the guy's last name's olsen, I remember that james olsen, jimmy olsen.

Lucas:

Okay, I think I'm one actually like edge. We'll post it in the show notes.

Elia:

Yeah, yeah, yeah, so yeah but I think you know, just to not pause that conversation, but again that the gratitude for being stretched um by nick and the team, um, but meeting them through a passion where I love to help and helping, gave back. It's funny how, you know, the dominoes line up. But again, what we do is just help and for anyone who wants to, you know to chat Lucas, however they, however they, you know, talk to us. We'd love to talk to them, but we just love to help people and the average client is 4.8 properties with us.

Lucas:

So they don't just do it once.

Elia:

This is around the strategy for the future.

Lucas:

This is Magnus' point compounding because once they understand the process around it once they read this book, the Slight Edge.

Magnus:

I think it might actually use this example in the book. But if you think about, every one of us gets a pallet of bricks. There's 300, 400 bricks in a pallet, just delivered to you, and it sits outside your house. But every day you decide that you're going to lay one brick. That's all you've got to do. It takes you 10 minutes. And then the next day you lay another brick and then within a month you've built a wall, or by the end of the year you've built a wall. By the time you've built a wall, or by the end of the year you've built a wall, by the time you've done it for 10 years, you've built a house. But how many people have got a yard that? They've got 10 pallets of bricks. So they've had all the resources that everybody else has done, but they're too busy. I've got to go. I'm going to go get a coffee, I'm going to go and do this, but you lay that brick every single day and you spend that time. How am I going to buy my?

Don Sanka:

iPhone yeah. But you don't need an iPhone, that's the problem right, Like this has been the problem.

Lucas:

There's so many distractions and you're being Keeping all the Joneses or the influencer world. You'll see them on the way down. My grandfather would say You'll see them on the way down when they pass you.

Don Sanka:

I've seen this argument so many times, Instead of buying an iPhone, if you invested that money into Apple stocks, right, but then it always is if you go into the comments. But then I wouldn't have an iPhone for the last 10 years. I'm like, oh my God.

Elia:

And it's the same thing when it comes to world creation right.

Don Sanka:

So how do you change that mindset Like how do you? Get people saying if you actually put, instead of spending $2,500 on an iPhone, which is ridiculous. Now to think that you know when we were growing up, if you thought, if we went back, and said Still is I still feel sick, you're going to spend $2,500 on an iPhone.

Magnus:

Five years ago, you wouldn't spend that on a laptop. No, no, no, but you would.

Don Sanka:

But that's the kind of mindset, capitalism and this whole notion of this is why I said we're probably at the lowest when it comes to financial literacy, when you're spending two and a half thousand dollars on a iphone and I'm an idiot who's done that to you but I can afford it right yeah, but people who can't afford it still do it.

Elia:

Yeah and again.

Don Sanka:

You know how do you change that?

Elia:

the conversation that that he has with them. You know, it's, it's quite it. Honestly, you just come out a better person.

Magnus:

It's like what Lucas said. It's a mindset shift that all of a sudden your thinking was we're trained to think like this and someone just expands that and goes hang on a second. Have you thought of that? And you don't actually have to forgo too much more in your lifestyle. It's just what you're actually spending your money on.

Elia:

Yeah, absolutely, and it's. Can you build an?

Don Sanka:

app for this Because, like seriously, we've got to find a way to get breakthrough. I've got kids.

Magnus:

There's probably one less app you just to me it's winding back to the basics. Stop buying an iPhone.

Elia:

I definitely think it's appable. You know it's more. You know it's having someone being able to break through and that's why what Nick does is pretty special. It's real people having real conversations and the strategy that he can show you. And he's done it, like he has done his 10-year plan. Like he's 39 properties in have you got one. I do, yeah. Okay, I would say that I had one before I met them, but now it's better.

Elia:

It's much what's made it better um, I've learned that I don't have to have 20 and live on beans and beg the bank there's other ways to do that.

Don Sanka:

On that, let's just.

Elia:

Well, it's more we get brought up to say you need 20 and all this savings and all these things. You don't learn about recycling debt. You don't learn about tax efficiencies. You don't learn about or I wasn't at school playing- tennis.

Don Sanka:

Sorry, what's all these?

Elia:

sorry all these things is a deposit for a house, um, and it's really hard to get you know. So let's just say, for example, let's just say hypothetically the average cost of a house these days?

Don Sanka:

what million dollars?

Elia:

yep right how on earth? So just think about this. So how on earth? So I'm 20, how am I going to do that?

Don Sanka:

200 000.

Elia:

it's going to be really hard to save for.

Magnus:

By the time you're 30, what you've saved up properties have increased more than what you've saved in that time.

Elia:

Yeah. So an example could be a 20-year-old with a good job, could be that tradie who's doing pretty well. Because they are these days, you know, good on them. They put that away. They live at home a little bit longer. Put that away, they live at home a little bit longer. They rent vest and then when they do get to 28 or 30 or 32 and they do want to live, example, in nash grove and send their kids to marist, they can sell half of it and go and buy it yeah okay, but if they wait till they're 32 and they've saved all their money, buying a place in nash grove is no longer a million.

Elia:

It's now exactly, and you're not going to and how you can earn. That compared to saving every time you change a spark plug, compared to through property.

Don Sanka:

Some of those words you used before saying you know you don't have to live on beans. And then what were the other things you were talking about?

Lucas:

What's going on with the things that you're doing? It's just tough. Well, you just get told you can't, but it's tough.

Magnus:

I it's just tough.

Elia:

Well, you just get told you can't, but it's tough. I was anyway growing up. It's tough to do and you have to do it tough to put it away.

Don Sanka:

So how does this make it better, rather than that traditional?

Elia:

model of Because you're, as Magnus said, you are earning through compounded equity.

Don Sanka:

Yeah.

Elia:

So if I have five properties that I bought at $50 and then when I look to sell them in 10 years' time and they're now $1,000, I never would have saved that.

Magnus:

How do I get there? You buy off the plan initially, which you only need 10% of that property's worth to put down as a deposit, and then you don't have to pay for it for two or three years until it's finished, and once it's finished it's already improved in value two or three years, until it's finished, and once it's finished, it's already improved in value.

Lucas:

So practically your 10% deposit is literally growing. Gives you another 50, 100 grand, 200 grand, Growing them yeah.

Don Sanka:

So that 10% could grow a lot bigger than if you're trying to save for 20% yeah.

Elia:

And let's just say that. You know, just say you buy today for you buy something for $500,000, okay, it's ready to go Off. The plan will be at least 10% of those fees and stuff. You know, we may or may not have stamp duty soon. It's meant to be coming off but we'll see. There's none in Perth, I know that. So this is $500,000. You put 50 down, it settles and it's getting built over the next three years. When it is finished in three years time example only because things change, example could be it's worth 150. Yeah, at 150 000, that equity you now you're also your bank loan is only 450 000, it's not 600 and also if you're just trying to save that 20% to buy a million dollar house you've given up so much, so you've made $150,000 in equity and you only have to go and get a loan of $450,000.

Elia:

Then you leave that equity. I want my daughter to hear this right it makes total common sense to me.

Don Sanka:

That's investments 101.

Elia:

Yeah, yeah.

Lucas:

We're not taught this at school. I was just thinking about it out loud in my mind, going why did I, like I bought my property when I was 21 and no one else in my entire schooling um that I was connected with did that? I was like, why did I do that? I still don't know the answer now, but I was thinking, obviously having a mindset, but this conversation should have happened at school. Yeah, it does not, not, not, not in this light.

Elia:

It's just a different light, that's all anyway. So, but um, it's the mindset piece, because you could tell someone this all day long, but they'll go, that's nice, and that sounds really good. Don don go and have a chat to the guys in the office, they'd be amazing. Yeah, I will, I will, I will, I will, I will, I will, I will. You don't this has got practicality.

Magnus:

I heard a really good saying recently and that's don't tell me, show me yeah. So here you can actually put it all out and say, well, this is what I bought then and this is what it's worth now, and this is what I've done and everyone in the business believes.

Elia:

You know I said I was, I was doing this before I came to the business, just in a different light. Um, you know, nick has had a 10-year journey. You know, know, michael's done the same. You know they do this. You know you meet businesses that say, oh, yeah, but I don't do it. Well, okay, how does that work? It's like being a tennis coach saying, oh, but I don't hit forehands. Like, well, what do you mean? You don't hit forehands? That doesn't make sense. You're meant to be a coach, so, and we can, if they want to.

Lucas:

Love it.

Elia:

Fantastic, we'll get him in next. We'll get him in next. He's good.

Don Sanka:

Yeah, I'd love to hear more. Yeah, he's amazing. Yeah, thanks for the explanation, because it's I was trying to get into the roots of it and the rudimental stuff.

Elia:

I'll get a whiteboard next time. Yeah, I think you should, because most people don't get it right, it's.

Don Sanka:

It's like how do we change that mindset from buying that iphone or, yeah, something that you don't need, or a subscription that has no value?

Elia:

it's like the coffee cup the coffee, the cup cup of coffee analogy. You buy coffee every day for a year and you could have gone on a holiday don't, but then I won't have my coffee. That's a bad example.

Lucas:

I don't know. That's a perfect example. No, it's not. I think it's okay Make coffee at home.

Elia:

Exactly, that's the whole point Make coffee at home.

Don Sanka:

Depends how much productivity you get from a really good coffee.

Elia:

I think you need to go and talk to Nick I think he's got too much money. And that. And buys coffee. Anyway, there's coffee Anyway, yeah In all, honesty.

Don Sanka:

I have my Breville coffee machine. I hardly ever buy any coffee out. That's good, Because that's perfect coffee. That is good. But back to the. I know that's stupid.

Elia:

But back from the sport to business same skills. I've just been very lucky. I love learning and I love to help, and whether I was helping you forehand or helping you, you know what we do with New Star. Or helping you be a player, or helping you be a coach and do hot shots, or you know helping. You know First Nations kids have tennis for the first time ever. And you know going to schools. I love to help.

Magnus:

Where that came from, I'm not sure If you could summarise to one of the listeners.

Elia:

they want to make a change what are the top three things that they should do, or even the first thing they should change on which bit to change to become, um, financially secure? Oh, I will. I am definitely not a financial advisor, um, by any stretch. Um, just that's a good thing, right, because we are. We are not financial advice.

Elia:

That's been my problem always like financial advisors are incentivized by what they sell right, whereas yeah, when we attend to my question, I think yeah, it's mindset, it's, you know if you want to honestly, if you want to, um, find something you're passionate about and and learn how it happened. So, if you think that lucas is, go and ask him how did you do it? That's what I would suggest.

Magnus:

I've heard that actually from a lot of successful people. They reckon one of the number one traits is just to be curious.

Elia:

Yeah, and don't be afraid to go and ask.

Lucas:

Always ask why.

Elia:

Yeah, the strength of an idle question Strength of an idle question is very, very powerful.

Lucas:

I've pissed off many people in my time because I am too curious. Yep Me too, Because, you give me a very superficial answer. I'm like no, no, I want to go deep, Yep.

Magnus:

How did?

Elia:

you do that, but sometimes they don't know.

Magnus:

Yeah, think about it, though you look at a three-year-old and if you've got kids, um, you got to forget about yeah, so you look at the curiosity level of a three-year-old. All they're doing their mum, this mum, that dad, this dad that, and that's why they learn so exponentially because you're asking all those questions.

Lucas:

Yeah and then we go to school yep, yeah, anyway, anyway, well we will stop on that.

Don Sanka:

It's been a great chat.

Lucas:

Thanks guys, I'm looking forward to being on the panel.

Elia:

Thanks for joining us, no thanks for having me, and I'm here to help.

Magnus:

Hope you enjoyed this exciting episode of the Mastering Podcast. If you got value from today's conversation, hit that subscribe button now and share this episode with a friend. Until next time.