J. Massey: Real Estate Syndicator, Investor, Promoter, Speaker, Instructor, and Coach

Cashflow Diary™ | Influenced by Robert Kiyosaki of Rich Dad about Real Estate Investing, Cash Flow and Passive Income.

By way of Cash Flow Diary, J Massey basically gives away current industry strategies by simply teaching about what he does daily as a real estate practitioner.
Cashflow Diary™ | Influenced by Robert Kiyosaki of Rich Dad about Real Estate Investing, Cash Flow and Passive Income.


Welcome to the Cashflow Diary, where new and experienced investors come to take confident action towards their goals. Your host is a family man, a real estate entrepreneur, investor, coach and instructor. As a master facilitator of Robert Kiyosaki’s Cashflow 101 game, he’s inspired many to begin their journey into creating cashflow for themselves and their families. Mr. J. Massey has nearly a decade of experience in the areas of financial services and real estate. He currently serves as President and Owner of West Egg Enterprises, Inc. and West Egg Properties, LLC, which together hold over 200 units of residential property. In the last 3 years, he has personally completed over 100 real estate transactions in 8 different states. Mr. J. Massey has proven to be particularly adept at the art of getting difficult deals completed and finding creative solutions to avoid potential deal-breaking problems. He has invested a significant amount of time studying and executing transactions in multiple markets using many different strategies. From these experiences, he has not only learned numerous useful lessons and techniques, but has also created profits for both himself and his investors. In addition, he has helped to beautify and improve neighborhoods and provide jobs and revenue to communities. Through his expertise, he has helped many people build their cash flow and wealth using real estate, both inside and outside of their retirement plans. Prior to real estate investing, his background was in insurance and financial planning as a licensed representative with the National Association of Securities Dealers (NASD), the Securities and Exchange Commission (SEC), the California Dept of Insurance (CDI), and as a Registered Investment Advisor Representative (RIAR). However, he does not currently operate or hold any of these licenses. He currently functions as a landlord, lender, consultant, real estate developer, investment manager, speaker, author and mentor. In his spare time, Mr. J. Massey enjoys photography, reading and family activities with his 3 daughters, son, and wife in Orange County, California.




Cashflow Diary Roadmap Q&A

Feb 17, 2020 55:22


Get the lowdown on the Cashflow Diary Roadmap program and how the program has been designed to get students to six and seven figure businesses as quickly as possible. Find out what makes the Cashflow Diary Roadmap different and how becoming a student in the next enrolment period could completely transform your life.


What is the difference between what’s offered to Cashflow Diary Roadmap students versus traditional students? 


Cashflow Diary Roadmap students are the first to take advantage of the new Cashflow Diary app, a one stop location for training materials, networking opportunities, and additional features like a vendor marketplace. The app also allows us to bring on subject matter experts to provide help with specific areas. The app also connects Roadmap students to their accountability coach in a real time format. 

There are also a number of assessments that your accountability coach will help you get through, all of them designed to help you become a bigger, better, badder entrepreneur and keep you on track. You will have access to a monthly 45 minute coaching call and additional tracking tools to keep you on target.

Cashflow Diary Roadmap students also get access to 3 weekly training calls that cover topics and tactics that we wouldn’t otherwise be able to do. Everything in the Roadmap is centered around facilitating the transformation necessary to create six and seven figure businesses.


Who are the accountability coaches?


Each accountability coach is someone who has accomplished the things we are helping Roadmap students achieve. They have proven they have mastered the same material you will be studying as a Cashflow Diary Roadmap student. The whole point of the accountability coaches is to provide real time help for the students and eliminate what they perceive as roadblocks that are preventing them from moving forward.


Does the Roadmap focus on a particular market?


There is no one market that the Cashflow Diary Roadmap focuses on, but for the more exotic use cases of short term rentals there will be either additional training or resources made available for them.


Will you be discontinuing the Q&A’s?


The short answer is no, but where they are done and how they are done is changing. They are only going to be made available to members only. The previous format came with a lot of restrictions that prevented it from really solving the problems we are looking to solve. By changing the format we will be able to better serve the members and help them advance in towards their goals.


Will there be a Facebook presence after this transfer?


There will be a presence on Facebook, it will be focused on the other group. We will be doing more free training for members of that group but our primary focus will be on working with existing Roadmap students. The challenging thing with Facebook is disseminating information because Facebook gets to determine who sees what, which can make things difficult. The Roadmap is our effort in providing a solution to that problem.

All the recommendations we have made in the program are tailored to help you get results as fast as possible without getting distracted by the next shiny new object.


What is the opportunity cost of not joining?


What happens if you never get there on your own. Only you know the answer to that question.



Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes and Stitcher Radio!

Getting Landlords To Say Yes

Feb 13, 2020 01:43:29


One of the unique things that you need to understand is that people do things for their reasons, not theirs, and their reasons make sense to them. Be careful about assuming that the way you think is the way that everyone thinks. When it comes to talking to landlords as a short term rental operator and getting them to say yes, there is a proven process that you can use to start the conversation and close the deal.


Why do you think that landlords want? 


If you’re the one offering a solution to a problem, you’re in business. That means you need to understand the pain of the problem in order to make a sale/present yourself as the solution to the problem. If you’re not getting the answers from the people you’re talking to, it’s not the business model that’s broken, you’re probably just approaching the situation incorrectly.

Many of us put off our pain until the last possible moment, landlords have pain too, you just have to understand what that pain is. When someone is in pain, they don’t care about a person’s pedigree as long as they believe they can solve their problem. When it comes to talking to landlords, their biggest problem is vacancy and as long as you can speak competently by understanding that the landlord conversation becomes much easier.

The conversation is only difficult because you don’t yet have a thorough understanding of their problems yet. As you continue to have a better handle on the problem, you will run into another set of challenges. Namely, getting the person to admit that they have a problem.

The average short term rental guest stays at a venue for 5.6 days. That means that roughly five times a month, the unit has to be cleaned from top to bottom, which is an interesting point you can bring up in conversation with a landlord. How often does that happen with a traditional long term rental situation? The answer is almost never.

Another benefit to the landlord is a general decrease in wear and tear on the unit. Guests typically spend their time somewhere other than the unit itself, especially compared to long term tenants. Your relationship with a landlord is a symbiotic relationship where you are both helping each other.


What do you think the landlord gains by working with you as a short term rental operator?


The benefits of a consistently occupied unit not only leads to more reliable payments for the landlord, the building is valued based on its net operating income and if they can show that vacancy is going to be consistent, it can add up very fast for the landlord. 

The landlord also gets the advantage of decreased leasing fees and management fees. Working with you as a short term rental operator can save them thousands of dollars in leasing fees and every day the unit is vacant they are losing money, which is a problem you can solve directly.

As a short term rental operator, the landlord can be confident that their property will be sufficiently covered by the right insurance, which is not something they can always rely on with traditional tenants. Short term rentals also get to take advantage of all the technology available that most landlords have no idea how to make use of, including increased security and fire protection. We can protect their property better than they or their tenant can.

Professional operators can’t be taken advantage of in the way that the scare stories on the news are saying they can.


How To Start A Conversation With Any Landlord


Here’s the perfect script for starting the conversation with any landlord. 

“Hi, my name is (your first name). My company and I are looking to lease a number of properties in the area. Are you the right person to talk to about that?”

You want to plan the seed that when it comes to sign the lease, it’s going to be with a corporation and with someone who can potentially solve their vacancy problem. 

On the phone, there is no other goal than to get an appointment to see the property and that’s it. Once you’re on site avoid saying have an AirBnB business because that’s not factually accurate and the name has already been poisoned by news outlets all over the country.

Once you’re on the property, when someone asks you “is this AirBnB?”, you respond with how you acquire customers. When someone asks you “what does your company do?”, you respond with who you serve. Ultimately, the conversation should move towards getting around the landlord’s existing prejudices around short term rentals.

One principle to keep in mind when answering their questions is asymmetrical sharing, when you share your information with them they will feel obligated to answer your questions as well. Answering their questions is your opportunity to demonstrate your competency and ability to solve the landlord’s problem.

Another thing to keep in mind is that when you are touring the property, you should be spending that time in qualifying the property.


Does it matter how you dress when it comes to the appointment with the landlord?


How you dress does not matter, what matters is how confident you are when you show up. Whatever attire you have to wear to achieve that will work.


How do you navigate newly established business credit that does not reflect a rental history? What if the landlord does not want the entity to guarantee the lease?


The highest level of success will come from working with owner controlled buildings, business credit will not likely come into play unless you’re dealing with REIT. Most owners won’t care if you don’t have a history, don’t make that assumption.

If the landlord doesn’t want the entity to guarantee the lease, that’s fine. The entity is still on the lease, you just offer a personal guarantee.



Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes and Stitcher Radio!

The Secret To Raising Capital From Investors

Feb 10, 2020 01:25:43


Do you want a six or seven figure real estate business that will actually allow you to retire from your job? Raising capital is a key skill you need to understand. The window of opportunity is wide open and there is more opportunity than you think in the short term rental business, now is the time to take action and get started. 



Why would a landlord allow you to lease their property and make more money than them? 


Landlords are in different places in their lives and the value different things, that’s what creates the opportunity for us. In fact, most retail businesses do exactly the same thing. The lease a location where they operate out of, in order to make more money than the cost of the lease. The principle is basically the same.



What do you believe investors are looking for? What does it take for investors to say yes to giving you money?


There are basically two things you need in order to get investors to say yes to you. Character and confidence. There are many different ways you can demonstrate those, producing content like a podcast or Youtube videos and they show up consistently. Demonstrating competence is also very important, because he who educates the market, dominates the market. Always answer at least one question with your content and actually helps people. 

When it comes to raising capital, there are three types of people that you want to be in front of: guests, landlords, and investors. Another thing to keep in mind is that investors are often the people right next to you, they are not always the person in the fancy suit. Every person has an investor identity and the most interchangeable piece of the process is the deal.

Even if you don’t currently have a piece of property under contract right now, you should still be able to talk about who you serve, how you serve them, and everything the customer prefers. If you can’t talk confidently about that without having a particular address in mind, that’s where the problem in raising capital lies.

You must become a professional information gatherer because that will put you into a position to diagnose, make a prognosis, and then prescribe. You can’t do it any other way because you will never know what the investor wants. The challenge is you can’t ask them directly because most people don’t even know they have an investor identity. If you walk into any given Starbucks, there is probably several million dollars in investable capital sitting around.

You are the operator and the one with a solution, make sure they know that. There are many different reasons someone will choose to invest, and your job is to figure out what that is and solve their problem. Invite them into your world and show them that you are an expert by educating them.

If you lead with a deal based on what you believe is great without uncovering what the investor is actually looking for, you both lose.


The Profit Analysis Quadrant Conversation


There are four areas of profit: appreciation, amortization, depreciation, and cash flow. Each of those can be manipulated to create the outcome that the investor is looking for. You have to know how to use these tools to create a deal that solves the investor’s problems.

Show them you’re an expert by educating them and asking the right questions, find out what they are doing and what problems they are trying to solve, then explain how your transaction can be structured to solve their problem, then ask them to enrol. The final step is to ask for the referral so you start the process over again.

There is no magic deal structure that will make raising capital easier. There is a nearly infinite combination of variables that you can use to structure a deal, your limiting beliefs are the only thing holding you back.


Do I need to create a business plan when raising capital from investors?


A business plan is usually just a guess. You may have a solution proposed in the plan but if it doesn’t solve the investor’s problem it won’t matter. If you don’t ask what their problem is, then you won’t know and raising capital will be very difficult. 

It’s better to realize that your ability to produce value for the marketplace can be used to solve their problem, you just need to ask the right questions and tailor your solution so it solves their problem.


How much time do you typically take to repay an investor?


There is no set time limit. You have to diagnose their problem first because not every investor needs the money back immediately, it could be 15 years in the future. It’s more important solving their problem in the timeline that makes sense for that investor.


Do you ever offer a lease option to buy?


No, we always start with a basic lease. There are other tools at our disposal and we want to keep it simple for the landlord. We just want to be in the loop in the future in case you do want to buy down the road. It’s better to use the capital you would tie up in an option to furnish the unit.

Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes and Stitcher Radio!

Why Short Term Rentals?

Feb 6, 2020 01:25:54


When you understand the “why?” behind your business, it can often help you with the “how?” of your business. In this episode of the podcast J reveals the story of how he came to realize that short term rentals are perhaps the greatest opportunity for people getting into real estate investing in a very long time, but also why the window to take advantage of that opportunity is closing a little bit every single day.



The Power of Real Estate 


Prior to getting into real estate, J and his wife went through some incredibly difficult times personally. His wife was unable to eat or drink due to a condition she developed while pregnant, and J suffered an injury where he punctured his lung which prevented him from walking and talking at the same time. His back was against the wall with no money and a terrible credit score, and that was when a friend recommended he look into real estate investing.

At that point J’s best ideas are what got him into that position, which is something you should consider as well. Wherever you are now, your best ideas got you to where you are. It wasn’t until J left his comfort zone and stopped pretending that everything was alright that things started to change.

J started doing what he was being asked to do and after closing his first transaction in June of 2008, he realized that his beliefs around money were holding him back and preventing him from seeing the opportunity that was around him.


You can play any game if you are taught the rules, and real estate is no different. Once J got started, everything snowballed and accumulated and in the course of the next 12 months his life was completely changed. His business eventually developed into buying apartments and multifamily units, billboards, cell towers, and other types of property all over the United States, all along the way he fine tuned the systems that allowed him to scale.

As great as that success is, J wasn’t satisfied. J started thinking about how he could make more of a difference in the world which lead him to create the Cashflow Diary and started helping other people with their own entrepreneurial journey. It was actually one of those people that introduced him to short term rentals.

One of the interesting things about real estate is that it’s a great way to build wealth, but a horrible way to build income. A lot of landlords lose money on long term rentals for quite a while. Short term rentals are a response to the change in consumer habits and change the way we look at real estate.

Short term rentals have been around for a long time, but what is new about the industry is the impact that technology is having on it. Technology is transforming everything about real estate and the short term rental industry is leading the way.


Planning For The Future


The rules of money have changed and most of us were never taught them in the first place. People are finding out the hard way that social security is more like social insecurity and their 401(k) isn’t going to last as long as they thought it was going to. We all must have a way to produce income not only when we are awake, but passively as well. Inflation and tax increases are coming in the future, and we need a way to protect ourselves from that. 

For most people, their first transaction is real estate is about taking on a massive obligation with almost no experience, but one of the game changing realizations with short term rentals is you don’t need to own a property to start the business. You only need to control the property, and that means a lease.

J crunched the numbers and found that a lease came with less risk, less money up front, and can be turned around quicker. He also found that he had a good chance of getting all his cash back in 10 to 18 months, as well as having a source of cash flow. When compared to a traditional approach where he wouldn’t be able to expect that money back for at least 15 years, short term rentals win hands down.

If J were to start all over today, short term rentals are the strategy he would start with. You will gain the experience of owning a property without the risks associated with actually owning it, but you also get experience in working with customers and creating the systems that allow to scale rapidly. You can get the on the job training with the 30 year commitment. 


The Short Term Rental Opportunity That’s Right Infront of You


It doesn’t take any special skills to be successful with short term rentals other than the willingness to learn and be persistent. The industry is wide open but it’s not going to stay that way forever. The trouble is we have a tendency to wait until an opportunity is blatantly obvious before acting on it, but now is the time to act.

It’s been a long time since real estate has seen anything new, but the window is closing slowly on the short term rental industry. As major players like Marriott start to enter the market, it’s only going to get harder each year, just like every other technique in real estate.

Short term rentals produce twice the gross revenue of traditional long term rentals while often only increasing the expenses by 10%. When you do the math, you end up with higher net operating income and that’s why finance is going to change.

Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes and Stitcher Radio!

The 10 Things I Wish I Knew Before I Got Started In Real Estate

Feb 3, 2020 01:42:11


We are talking about making short term rentals happen for you, making them easier and faster, bigger, better, and badder. If you feel the need to get started and need that extra push to make things happen, you can go to cashflowdiary.com/roadmap to finally build your business. J reveals the 10 things he wishes he knew before he got started in the short term rental business as well as answers a number of questions from the viewers.

How many units does it take to retire? 

When you’re in pursuit of an outcome, you may not know what the goal is. When people are getting started in real estate, they often have a dream of retiring but have no idea how many units they need to achieve that goal. If you want to know exactly how many short term rental units you need to retire you can go to cashflowdiary.com/howmanyunits to calculate your magic number.

Is it possible to get my first unit in the first month?

The most reliable answer is it depends. If you follow the program and do exactly what it says, you shouldn’t have any problems landing your first unit, it all depends on whether you are willing to put in the work and how comfortable you are with failing. You may have to hear a large number of ‘no’s’ before you get a yes, but if you can push through and put in the work, it’s definitely doable. You just have to move at the speed of instruction.

This program is best suited to people who are okay with leaving the ‘why’ for later so that you can provide value now. Even people who have been in the short term rental real estate world can get stuck if they don’t have a system for scaling and the tools and team to support their growth. It takes time to learn systems, but they can’t be implemented just by reading a book or watching a video. It requires hands on experience to make them work.

Will we be able to plagiarize all the systems and everything you do in your short term rental business?

You not only get to plagiarize everything, the program literally contains the exact messages that J sends his guests. It’s easy to replicate the ingredients, but we also give you the recipe.

You need to learn more than just tactics. As the marketplace matures, you’re going to need to have the skills to build a real brand that will allow your business to continue growing.

Do short term rentals work in Chicago?

The short term rental business works everywhere there is a need for housing.

Is the app available to current students or only people in the Roadmap?

People joining the Roadmap get access to the app first but it will be coming to existing students that are currently in Facebook.

Do I have to under price if I’m new?

You don’t have to approach this the way you would with traditional real estate, you would be doing things in the wrong order and costing yourself some opportunity. You also have to be aware of how difficult it is to get accurate data to set your prices and they can be manipulated.

#10. I was not aware of the use cases for short term rentals

The real secret to the short term rental business is specialization. Who you are trying to serve will determine so much about your business and is really the foundation for everything else. There are a huge variety of specialized use cases for short term rentals that you can serve including mobility challenges, government, insurance, pet owners, and more.

You have to understand specialization. We are retailers, and retail is niche. You have to customize your business to suit a particular kind of customer right from the very beginning. Failure to do so will be why you average daily rate won’t be as high as it could be. There is no such thing as too niche, if you don’t niche down you make will all kinds of mistakes.

#9. This business is very review based

You can do everything you were supposed to do and you can still get a negative review. It’s going to happen and you need to deal with it. 

Is $20k enough to start an AirBnB business?

We don’t have an AirBnB business, we have a short term rental business. It all depends on who you are going to serve, people have gotten started for much less and much more. There is no set number for everybody.

Just because you have money, that doesn’t mean you're going to succeed. Can you hear no fifteen times a day? That attitude is much more important than money.

#8. I didn’t realize how political the business is

There are a lot of challenges in some jurisdictions. Some places really care, mostly because the perception of the short term rental industry is based on other people who haven't been doing the work.

#7. How easy it is to operate the business from a distance

With the right systems, it can be surprisingly easy to operate a short term rental business from anywhere.

#6. Established property management companies typically didn’t work

Traditional property managers just aren’t capable of doing certain things when it comes to short term rentals. Oftentimes the scale and scope of your operation will just be too much for them, which is why J developed and refined his own system to make it work.

#5. How new the industry is

You can tell how new an industry is by the lack of software available. There is a huge amount of technology that just doesn’t exist yet for our use case.

#4. How big the opportunity is around additional services

Having a system in place to consistently charge and collect for things like early arrival and late checkout can make a big difference in your bottom line. Being able to offer simple services like an additional cleaning can be huge.

#3. The window is closing

In a lot of places the opportunity is still wide open but the window is closing. The time to build your brand is now. Major companies are making moves into the short term rental business because they see the same opportunity in the industry as we do.

#2. How much energy people waste

Your guests will waste so much electricity it’s incredible. In 2019, J spent over $32,000 on utilities, and that doesn’t include the internet. That’s why they have developed a system that has almost completely removed that as an expense, which is available in the Roadmap training section.

#1. How fundamental standard operating procedures are

Standard operating procedures that are written down and easily followed are the foundation for a business that can grow and serve hundreds of customers a month, all with one hour a day of work. There is a lot of work that goes into creating those SOP’s and members of the Roadmap get them just for being part of the program.

We are currently in the beginning stages of the short term rental industry and profit margins are good, which means the professionals are coming, and standards and expectations are rising. You absolutely need to have standard operating procedures in place if you’re going to compete in this business in the future.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes and Stitcher Radio!

The Cashflow Diary Story with Brett Swarts

Jan 27, 2020 01:04:00


J Massey was the featured guest on the Capital Gains Tax Solutions podcast with Brett Swarts recently and they talked about everything from how J got started in real estate investing, to key short term rental strategies, growth mindset, the Cashflow Diary, and more.

Questions and Answers

What is your background and what’s your current focus? 

J started out from a very difficult situation in life. J’s wife has a condition that when she’s pregnant she can’t eat or drink, and at the same time as her pregnancy J had a punctured lung and brutal asthma. The challenge was that neither of them could earn income by going to work so they needed to find a solution. A friend recommended that he look into real estate investing so with literally no money and terrible credit J began wholesaling properties. 

After being introduced to taxes, J started keeping the properties and that developed into a portfolio that included single family houses, mortgages, and cell phone towers. Eventually people started asking how he’d been able to achieve all of that, so J began teaching others how to do the same thing. One of J’s students introduced him to the idea of short term rentals, and three years ago J switched his focus to teaching people how to create their own short term rental business.

What is your super power and how does it shape how you help others today?

J grew up as a military kid outside of the States and growing up overseas has given him the ability to adapt to new situations very quickly. J is autistic and has ADHD and he considers those his super powers as they help him connect the dots and learn new things surprisingly fast. It’s also a gift being able to share that information and help other people as well.

How did you transfer the idea of a weakness into a strength?

Being able to provide for your family is great but when that’s accomplished there’s not much else to do. At the age of 38, J found himself functionally retired and with nothing to do until one person came to him and asked to learn everything he knew. In the process of teaching this person the skills of real estate investing, both J and the other person went through incredible transformations. He realized how fulfilling and valuable it is to help other people achieve their dreams and that ultimately put him on his current path.

Does your approach to life filter into your basketball game?

J judges his success in a basketball game by the number of rebounds and blocks he made, the things that enable someone else to be able to be great. Setting the example of helping other people is very important to J. In many ways, entrepreneurs can be some of the most selfless individuals and since they are so connected to so many different people, they have the ability to make fundamental positive changes to their communities.

Walk us through the tactical parts of what you do and how you help people create more wealth.

One of the things that people rarely tell you is that owning real estate long term is a great way to build wealth but horrible for building income. Income doesn’t materialize until the debt servicing is complete. When J had 450 units, there was always something to repair and something to do, so they started looking for ways to increase income and reduce the work. This is where short term rental units come into the picture.

Short term rentals have a number of advantages to the user compared to a traditional hotel room that customers appreciate, which are some of the things he covers on the Cashflow Diary podcast.

What’s the process once someone gets their first deal done?

We’ll assume two things: each bedroom in a short term rental will net you $800 per month throughout the year. The second thing is that you have $250,000 to invest in real estate. On average, that $250,000 will allow you to acquire anywhere from 10 to 17 short term rentals. When you do the math, you realize that within 18 months or less, you will have your $250,000 back.

That means that not only do you get your money back, but you’ve turned it into a stream of income and a business that you can continue to grow.

Saving that much money is hard, and making large financial commitments like a mortgage can be extremely successful because of the lack of experience. By building a short term rental business first, you are building a stronger, bigger, and better real estate portfolio than any other strategy while also building your experience.

Are short term rentals harder to own and manage than regular rentals?

Since J came into the short term rental industry with prior experience, he had a number of different skills in place that he could bring to the space. He applied those skills and developed a system that allows his students to leverage a number of different pieces of technology and manage their business with only an hour of work a day.

The tools are important, but you also need an expert who knows how to use it to get the best results. That’s where J’s business really shines, as they impart the expert skills the student’s need to excel. Building a team is absolutely crucial to success in the short term rental industry. You will never achieve the results you could with a team on your own because the skill sets required are so diverse. It only works if you build a system and a team.

J’s system allows him to take a completely blank space and get it online and generating revenue in only 72 hours. Bringing in his wife was a big asset for J because of the additional skill set and perspective she brought to the table. 

Real estate is the best risk adjusted rate of return you can have. It creates positive impacts in the community and helps people in their daily lives, which can also make very rewarding.

What’s your take on selling real estate and what tax strategies do you implement?

J generally avoids selling, but if he does he always tries to make sure he has enough offsetting credits and depreciation to deal with whatever the capital gains would be. He’s not a fan of a 1031 exchange, so he will take on different projects like larger rehabs to create more offsetting losses. This is also one of the reasons why J is so excited about the Deferred Sales Trust that Brett talks about.

The time constraint of the 1031 exchange can result in very unfavorable deals and poor decisions just to avoid the tax. The Deferred Sales Trust is a very attractive alternative to the 1031 exchange. 

What is the single best practice to implement to be successful in real estate investing and building wealth?

The first skill is failing fast, failing forward, and failing frequently. As a child you learned how to fail while learning to walk and that’s a skill you need to cultivate. Real estate is the same way and understanding that will allow you to get out there and start making things happen. Most of us haven’t given ourselves enough opportunity to fail in order to get it right!

Other than that, realize that it’s never going to be perfect. Make the decision to get to your destination and do what it takes to get there, detours, full stops, and all. Give yourself the grace to work at it until you get it done. When the ‘why’ gets big, the ‘how’ gets easy.

How do you stay centered in your values?

Praying and reading the Bible is central to J’s ability to stay focused on his mission. The world comes at all of us and sometimes the people we look up to are not going to be the ones that enable our transformation. Don’t let the world tell you what you should be. 

Seeing his students develop and grow is something that keeps J going as well. It inspires him to keep looking for the next thing he can learn and add to his student’s lives. 



Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes and Stitcher Radio!

Thomas W. Jones: From Campus Revolutionary to Powerful Financial Services Leader

Jan 23, 2020 01:05:13


Thomas W. Jones is the Former Vice Chairman, President & COO at TIAA-CREF, the largest pension system in the country. He was the former Vice Chairman of Travelers, the Federal Reserve Bank of New York, and Freddie Mac, and the Former Chairman & CEO of Smith Barney Asset Management. He was the former CEO of Global Investment Management at Citigroup and Former Treasurer at John Hancock Insurance Company. Thomas W. Jones is currently the Founder and senior partner of venture capital investment firm TWJ Capital and author of the new book From Willard Straight to Wall Street: A Memoir. 

Podcast Highlights


Who is Thomas W. Jones? 


Thomas W. Jones was on the cover of Newsweek in 1969 as an iconic revolutionary while studying at Cornell. As a student, Thomas felt that America was at a crossroads and that his generation was tasked with the job of raising the price of oppression. Due to his effort and the effort of countless others, America chose to embrace the spirit of the Constitution and the Bill of Rights and has made significant progress over the last 50 years towards equality.

In a certain way, Thomas’s life story and career in business is like a microcosm of the story of the growth and development of America as a whole.


Did the fight look like what you thought it would?


Thomas was pleasantly surprised when America took the path of opening up opportunity instead of the path of oppression. He believed the toughest fight would be in the business world and he figured that he would have almost no chance at success, but he needed to try. He had to approach business in a way that he provided his own psychological support, because he knew he wasn’t going to receive any from the outside.

He discovered that if you actually deliver a true 100% commitment, there is a large gap over time between the people who are delivering only 95%. The 5% gap seems small but it compounds over the years and people start to notice. For Thomas, this meant people in the upper echelons of business recognizing that he was getting the job done and eventually taking him on in a mentorship type of relationship.


Where does your motivation and fortitude come from?


It takes a certain level of self belief and self confidence to take on tough challenges. For Thomas, his confidence came from his experience in school. At that time, the philosophy of school in dealing with a gifted child was to accelerate them, and that meant that Thomas had skipped two grades. This meant that he was much younger than his peers and once he had entered high school he encountered a number of bullies. It was then that he decided that he wouldn’t let others define who he was. That self possession developed into the mentality that even if he was facing insurmountable odds, Thomas might as well try to get it done.

Most people never figure out what they are capable of because they never actually put 100% into trying to be their best. You can never know what you can do until you give 100% effort. It’s a wonderful gift that you can give to yourself to learn what your highest potential is. When you learn what your capacity is, you will be able to channel and master it, and you will find arenas where you can give 100% and be successful.

Thomas’s faith discipline has been another crucial element. Even in the midst of a crisis, praying and trying to see the good in the situation allowed Thomas to continue to fight. Life is going to have times of trial, and having spiritual faith that can sustain you is very important.

Striving is one way to make life meaningful. A story like Thomas Jones could not have happened anywhere but America. 

Every single year Thomas would set three goals for himself and having the discipline to achieve those goals each year had a major impact on his life.

Early on in Thomas’s marriage, he and his wife made some very important decisions. The first was for Thomas to get his MBA at night school in order to acquire the skills he knew he was going to need for the future. And the second was the decision to live below their means and save his wife’s salary each year. That later allowed them to purchase their first property in Boston which was the first step towards accelerating their wealth.

Reference: From Willard Straight to Wall Street: A Memoir, Thomas W. Jones


Tom’s Takeaway


The first step is to believe in yourself, the second step is to make a plan in one year increments that will get you from where you are to where you want to be. You can also pull that back. What are you going to get done this week to move you down that path? What about this month? Each accomplishment adds up, and the accomplishments of several years in a row will move your life forward in ways that you can only dream about. When things don’t go right immediately, don’t be defeated. Believe in yourself and the power of putting in 100% effort.


From Willard Straight To Wall Street on Facebook

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TaxDome and How Technology Allows Small Businesses To Compete For a Fraction of the Price

Jan 20, 2020 40:00


Co-founder of TaxDome - a cloud based practice management solution targeted to small/medium sized firms (1-25), helping entrepreneurs scale quickly & easily. TaxDome is an all-in-one solution for tax and accounting professionals to manage their business. 

Podcast Highlights


Who is Ilya Radzinsky? 


Looking back Ilya always had an entrepreneurial spirit and when he was younger he wanted to own a restaurant. He managed to get a job as a busboy but found it was much harder than he thought it would be and didn’t last more than a week. He pivoted his focus and got creative with his first business of selling digital items on eBay. With some encouragement from his parents, Ilya followed the footsteps of his brother and went into finance as a banker and financial analyst. 

Several years into his career, Ilya’s boss shut down the hedge fund he was working at and took a three month sabbatical. During that time, his brother was getting into product development and found a big opportunity. Ilya decided to team up with him and that’s how we get to present day with TaxDome. Generally, Ilya tries to adapt to the times and look for new opportunities.


Getting Into Finance


Finance has a bit of a bad reputation but in many ways it’s like Medicine. There are a number of different roles that you can play within the industry. Ilya enjoyed his career in finance and if it wasn’t for his boss getting divorced he would have probably just continued working at the hedge fund and wouldn’t have gone on to start a business. 

Oftentimes, the experiences that feel uncomfortable lead to better things in the future. Adversity often refocuses your vision of the world in a more clear way than before and the successful person usually follows a winding path with plenty of setbacks before they get to where they are.


Why TaxDome?


In 2010, the trends were moving in the direction of more people completing tax returns online in some way and back in the day, Ilya and his brother started working with a firm that was looking to go fully remote and scale their business. They started building that product for them and it went on to transform their business. A few years ago, Ilya and his brother saw an opportunity with the emergence of SaaS companies and that’s when the idea for Taxdome came alive. They created a similar platform to the one they created before specifically for accountants that allows them to access a plug and play solution for their business without requiring a major IT investment.

If you’re an accountant, you need a lot of different services in order to run your business and TaxDome is an integrated solution that aims to eliminate as many of those services as possible. TaxDome is trying to reduce the software burden for accountants and allow them to better compete with other businesses as technology changes the way transactions occur. 

In a lot of ways, small businesses are facing a large challenge of cobbling together a number of software solutions to be able to compete with larger businesses and their economies of scale. TaxDome is championing small businesses and trying to give them the tools and ability to compete and win.

Adopting a new software solution can be daunting so in order to lower the barrier to entry and give clients an idea of what to expect, TaxDome offers a simulated account without having to sign up. The simulated account allows people to experience the software from the perspective of the owner, the contractor, and the client.




Transparency is a core tenet of TaxDome. Safety and security are a part of that, but a big focus is on making change more approachable. Customers can look into TaxDome and get an understanding of everything they are going to get and exactly what the value of the software to their company will be. From a business structure, TaxDome is not a sales heavy company. The goal is to be so easy to use and obviously valuable that the customer can easily make an informed buying decision.


The Effects of Technology on Business


Technology is reducing the barrier to entry. 20 years ago to start a business you had to spend a large amount of money on infrastructure. Today businesses can access incredible resources like cloud computing that have drastically reduced the costs of starting a business. Technology has also reduced the risk of starting a business by lowering the cost of nearly everything.

In many ways, entrepreneurship is not for everyone. It’s not all afternoons off and coffee with friends. You have to be okay with failure and pivoting in order to be an entrepreneur and people shouldn’t feel pressured to start a business just because it’s currently the sexy thing to do.

For Ilya, being an entrepreneur and being comfortable with failure has been a skill that he developed over time. Being able to take in negative feedback and not take it personally is crucial to the improvement and success of your business. 


Ilya’s Takeaway


Write down the pros and cons of your potential decisions. Instead of keeping everything in your head, put it down on paper and make it clear. Few things in life are black and white, they’re mostly grey and putting things down on paper allows you to better navigate big decisions.


Get into the daily demo at taxdome.com

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Making Sure Your Insurance Company Pays Up Q&A

Jan 2, 2020 01:24:34


J is answering all your questions about business, short term rentals, personal growth, and whatever else it is you’re curious about. We’re also exploring the subjects of insurance and occupancy in particular, how much insurance do you need and what metrics should be looking at to maximize your occupancy. Insurance is one area that you don’t want to cut corners so make sure you understand how to make it work for you.

Questions and Answers


How do we handle bad guests? 


The first step is to breathe and realize you will survive. Everyone will experience this at some point. The process of removing an unwanted guest that has broken your rules is the same no matter the infraction. One thing to note is if the person is willing to pay the fees for breaking the rules, take the money and move on.

If you have to file a resolution with Airbnb you’re going to need to do it immediately. Your window of opportunity is very small to file a claim so don’t wait to do it. If the guest wants to write a bad review, waiting to make a claim is not going to stop them from writing the bad review. You will have to rely on the content policy to protect you from an unfair negative review.


A question about improving a listing’s rankings


The caller has multiple listings but is wondering why a couple of them aren’t performing at all. Before a booking can happen, inquiries must happen, before that views must happen, and before that impressions have to happen. Each one is a statistic that can measured and looked at to identify where in the process the problem lies.

For this caller there seems to be an issue with the inquiries on her listing. The words in the listing itself may be the problem since people are clicking on the listing at a high rate, but something is turning them away at that point in the conversion process. A lack of reviews may also be a barrier for converting people that are landing on the listing.


A question about guests receiving packages at the unit


It’s always better to have guests route their packages to a local UPS store instead of the unit itself. You don’t need the liability of a guest receiving potentially illegal packages and the UPS store is insured against those kinds of things. That also comes a paper trail for an extra level of protection.


Does insurance cover lost business income?


The caller had a unit that got flooded which required a rehab and resulted in 12 months of lost income. In her case, the insurance only paid out for the days that were already booked that were canceled. She had the right insurance coverage at the time.

When it comes to down to getting insurance there is replacement cost and actual cash value and it’s very important to understand the distinction. When it comes to lost business income, J sets the limits at $120,000 and the contents limit at $40,000 because he knows the insurance company will always try to minimize the pay out.

The caller also made the mistake of registering her insurance under her own name instead of an entity like an LLC. That means she is paying more than J is on each unit, despite having considerably less coverage than he does.

Since the caller hasn’t deposited the insurance checks yet, she still has the opportunity to make further claims. A public adjuster is someone who can help her claim additional pay outs that she’s entitled to. The caller should look for a public adjuster with experience in hotels and put them on her case.

It’s important to keep in mind that the typical insurance adjuster works for the insurance company and not for you. 


I already have a business entity, can I use it or should I create a new one?


If your lawyer says it’s okay, go for it. 


What happens if a landlord tries to use the landlord presentation against us?


The presentation is not legally binding so there isn’t much a landlord could complain about in that regard.


Is there an upfront charge for a public adjuster’s services?


Most of them are contingent on the increase of the claim. If the adjuster doesn’t think they can increase the claim, they probably won’t take the case. If they want you to pay upfront, that’s a warning sign and you should look elsewhere.


What insurance company do you recommend?


Since J doesn’t want to be construed as trying to sell insurance, he can’t make a particular recommendation but you look in the student group on Facebook you will probably find some suggestions. 




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Scaling A Short Term Rental Business Q&A

Dec 30, 2019 01:08:44


One of the most important things to understand about the short term rental business is that it gets easier with the more units you have. If you’re ready to scale up your business and start acquiring new units, you need to take the steps necessary to set yourself up for success. 

Questions and Answers


What do we with units that have carpets in them? 


Carpets can be challenging because they are gigantic sponges for bacteria. If your unit does have carpets you need to have a process for keeping it clean in place. Establishing a relationship with a carpet vendor that your cleaning crew can contact to get the work done without getting the approval from you will save you a lot of time.


How many customer service managers do you have and how many hours do they work?


J has a pair of customer service managers working for him that cover a total of 16 hours a day. He chose each of them to hire as managers and he trained them directly through a screen sharing app like Zoom or Loom.


I have some people interested in working with me and my short term rental business but they are wary of marketplaces like Airbnb. Is there anything I can do to help them be more comfortable with them?


You would think these people would be more comfortable with markets like Airbnb and HomeAway than they would with Facebook. If the caller wants to reassure these people, showing them the listing so they understand what details are being revealed is a good option.

Starting with Airbnb as your first platform also gives you the advantage of benefitting from their existing background check process. What the landlord really wants to know is the contact information of the person in the case of an emergency, and that can be solved by simply automating parts of the reservation process.

If you explain to the landlord that you are on the same side of the table and will be making major investments in the unit and don’t want unsavory guests as well, things will go much smoother. In many cases, you have the ability to correct the issue if it does come up than the landlord could with a traditional tenant.


Should I use Guesty if I am bringing on three additional units?


J recommends using Smartbnb and Lodgify instead of Guesty to his students. Everybody who brings on multiple units at the same time gets overwhelmed but it gets easier the more you do it. 

It’s also important to understand the difference between using a tool and using it expertly. If you don’t know how to use the tool well, it’s not going to be able to help you scale your business.


We’ve got our first short term rental unit up and running and want to scale. Should we wait until we’re making more profit to scale or push ahead now?


The short term rental business is easier with more units than it is with less. Starting a new unit in a slow season can be very challenging but since the caller has managed to cover the rent of the first unit during one of the slowest periods of the year, they should get started as quickly as possible. 


I have an investor that has reached their maximum writeoff capacity, if they invest with me outside of California can he get write off more?


We’re not tax experts and this isn’t tax advice, but there are a number of strategies you can employ to put you in a better tax position. Check out episode 556 of the Cashflow Diary to learn about the Deferred Sales Trust and how it may be a solution to your investor’s problem.


I’m trying to get up and running with Lodgify but I’m having trouble setting up the website, what do I do?


J ran into the same trouble initially. The best solution to getting it done is to just find someone that knows how to do it and asking for their help. 


Are you able to do short term rentals in a gated community of is it just a waste of time?


Short term rentals can definitely be done in gated communities, there is just a few extra steps you need to take to make sure everything is communicated properly.  


I’m negotiating my first unit and the owner wants me to put the first six months of the lease under my name instead of my LLC, what should I do?


Don’t do the deal that way. Put the entity on the lease and be the personal guarantor. You don’t want to be open to the potential liability and being a personal guarantor will probably satisfy what the owner is really looking for.


If you’re new to short term rentals, when should you fund and grow?


Many of J’s students have been able to access over a million dollars in capital to grow their business and they’ve found that once they get started, it’s fairly easy to pay back their obligations. The thing you have to consider is the opportunity cost of inaction and not taking advantage of the money that is available.


What are the benefits of running Airbnb under a business name?


We don’t do Airbnb, we run a short term rental business. To answer the question, it only takes one time with something defective in your unit to cause you major liability problems. The longer you’re in the business the more likely something like that will come up so you’re going to want to have protection in place. Run your business through an entity of some kind.


Do you need to get financing when you get started or do you wait until your first unit?


One of the best things about the short term rental business is that you don’t need an exorbitant amount of financing to make it work. Once you get one unit, it’s a game of patience until you get your next unit and so on. Self funding is a real thing, and another major advantage of the short term rental business model is that it prepares you for owning real estate long term. You can get financing or not, it’s up to you.

One thing to keep in mind is that the less other people’s money you use, the faster you will put yourself into a strong position in a very short period of time. 


One of our rules of thumb is that we have to double market rent to reach our goals. Does this sound right to you?


You’re on the right track but one of the things to keep in mind is to measure on a month to month basis, but not necessarily the 12 month basis. There is seasonality to how travel happens and you’ll start to see the deviations in each month and begin to better prepare for them. That will also help you smooth out the low periods by organizing your business properly.


Think and Grow Rich



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Bookings, Marketing, VA’s, and Landlords in the Short Term Rental Business Q&A

Dec 27, 2019 01:29:17


Robert Vocolla guest hosts the Q&A show with J today and they’re talking about some very important short term rental business questions. Find out about security processes, managing VA’s, marketing your business, getting out of problematic leases, and more.

Questions and Answers


A question about processes around security technology 


Rob uses a simple analog process to make sure his guests don’t run into issues with the security system in his units. He uses sticky labels on each panel that warns the guest not to tamper with it and has a basic template in Smartbnb that gets sent out that lets the guest know how to interact with the security system. This has drastically reduced the number of false alarms.


I’ve got three VA’s covering 18 hours a day, seven days a week and they’re great at following SOPs but not so good at doing customer service work?


Hiring is always a major challenge, if you want to find someone that can handle managerial level tasks it’s going to take a lot of searching. You may have to review, hire, and fire a number of people before you will find that gem of a person that checks off all the boxes. For this particular caller, they have multiple units in multiple cities and that’s adding to the stress of working with his team.

A good rule of thumb is to be prepared to train someone for 30 hours for every hour a task would take you to do. A quick tip for your customer service manager is to look at what time of day your business is getting the most messages because that will inform what hours you should assign your team.


What are the most important marketing KPIs to track?


There is a whole set of metrics around leads, around customer conversion, and average order and frequency. All of them should be measured and tracked and each one can have a compounding impact on the growth potential of your business.

Another thing to keep in mind is that a lot of your marketing on Airbnb is about working with the algorithm correctly. Make sure you have the right pictures with good descriptions because your search position in the rankings will determine your success on that platform. 

Tools like Smartbnb are crucial to understanding the most important metrics in your business. The only way to have metrics to look at and measure is to gather data.


What is the difference between Basic and Pro in Lodgify and Smartbnb?


The biggest difference between the two is one uses and API to communicate with other apps and the other uses the older iCal method. Since the caller is using Smartbnb, they should just stick with basic because they already have a built in sync feature that makes Pro unnecessary.


What are you guys doing to get more bookings from booking.com?


Getting guests on booking.com is similar to the other channels even if it feels like it’s more work. One of the secrets is to have every single field filled out for your listing and setting your prices correctly with Lodgify. Keep in mind that guests from booking.com may be more seasonal as well.

Mirror the same types of policies on booking.com that you have on other channels to keep everything consistently.


How do you guys do your messaging for booking.com?


No one is currently satisfied with the messaging situation of booking.com. It’s a very manual process but J is actively looking to create a better system. 


A question about a six month reservation opportunity


The caller feels like the guest may be trying to pull something over on him. Since that’s the case the question is around the tactical implementation of the reservation. The caller needs to be able to collect in cash and upfront 60 days worth of reservation while also implementing a 30 minimum notification in anything changes. 

Give the guests multiple plans and ways to pay. Under no circumstances should the caller accept less than their target profit numbers for that unit.


Are there any resources I can use to explain the short term rental business to financial institutions?


The risk of real estate and the risk of hospitality are different but all the literature and strategies that J uses are meant for landlords, not financial institutions. The majority of lending institutions are still putting together the underwriting model for the short term rental business and they’re not quite ready yet.

You can find some resources that will help you tell the story of your business to prospective partners within the Mastermind product. 


I have a potential situation where I may have to get out of a lease. How do I get out?


If you want to get out of your lease, and keep in mind this is not legal advice, you need to be able to document the incidents that come up. One of the promises that the landlord makes with you is called Quiet Enjoyment of the unit, and if they are failing to follow up on that promise you may have something to work with. 

Talk to a landlord attorney to learn what you need to prove that the landlord has broken the contract that will let you out of the lease.

In this case, the landlord has a problem and it shouldn’t be the caller’s problem. Whichever path the caller takes, he needs to document everything.


How much do we pay for a manager? What basic rules does a manager follow? What calendar platforms does Lodgify sync with?


Check out module 4 and 5 of the Mastermind product. 


What would be the best way to approach an owner about Airbnb?


Rule #1 to keep in mind is that this is not an Airbnb business, this is a short term rental hospitality business. Airbnb is just one channel where you get your customers. If you use the terminology “Airbnb business” you won’t even get your foot in the door with most landlords. Go to cashflowdiary.com/star to learn how to present the business to property owners and to get a deeper understanding of the methodology of the business.

Setting up the business the right way at the front end is what will allow you to scale.


Hawaii is a 30 day market and I’ve got a 25 day vacancy in between reservations. What can I do about it?


What can you sell either the previous guest or future guest to cover the revenue you would need for that vacancy period? Being creative is what is going to bridge that gap and once you create these offers you can use them for any number of guests in the future as well.




Business Owners Don’t Need to Fear The Next Recession

Dec 23, 2019 51:49


Jonathan Slain is the Founder and CEO of Recession.com, an author, a highly respected keynote speaker, and an expert on recessions & why business owners don’t need to fear them. 

Jonathan spent the last Great Recession huddled in the fetal position on the floor of his office. He borrowed $250,000 from his mother-in-law to survive. Jonathan paid his mother-in-law back and is now a highly sought-after consultant (and, yes, he’s still married!). 

Jonathan understands not only how to prepare your business for the next major recession but also how to turn it into a profitable opportunity.  

Podcast Highlights


Who is Jonathan Slain? 


Much of Jonathan’s life has been spent in the metaphorical Batcave, doing the research and preparing for whatever it was that he was working towards. Deep preparation has been the common thread in Jonathan’s life all the way back from high school. Studying people who were successful during major recessions is what drew his attention and his experience during the recent Great Recession is what put him on his current path.

Jonathan is also a recovering investment banker, studying different companies and economic indicators for 100 hours a week over the course of two years. He learned that as entrepreneurs, we all always have a recession coming, even if it’s not an economic recession. There are a number of personal events that could put your business into a recession and Jonathan’s focus is on being prepared for the next one, whatever shape it happens to take.


How does one plan for things we can’t control?


One major change recently in California has been the recent regulations around single use plastic. These regulations are going to have major impacts on many different kinds of businesses. In these situations, there will always be a few entrepreneurs who see the signs and put themselves in a position to take advantage of the coming changes. 

There have been 11 recessions since World War 2 and they last an average of 11 months. When they do come around, they create a massive amount of disruption in the market that also comes with a number of opportunities. Every business can do things to prepare and position themselves for the major recessions.


The Next Recession


We should be looking forward to the next recession, it will happen eventually so you should be prepared. All it really takes is a little forethought and some work upfront that will allow you to pounce when the recession hits, instead of spending the first few weeks or months of the recession trying to catch up.

Every major recession shares some common elements that you can look at historically and predict what may happen in the future. Marketing dollars go extra far during a recession, can you put some money aside now that will allow you to take advantage of this? What if you had a war chest available to buy distressed businesses and assets?


The #1 thing to do to prepare right now


The first step is to assess where you are in your recession readiness. You can go to recession.com and take the free survey to get your recession readiness score. It will also let you know which areas you need to start improving. 

The second step is to tune up your personal and business finances. How much debt are you carrying right now? Do you have a line of credit available to you so you can take advantage of opportunities that come up? Can you eliminate your personal guarantees on any loans you have right now?

If you’re going to be prepared for a recession, you need to start doing it now because these options don’t exist once the recession is all over the news and the economy starts to tip.


What are some mistakes you’ve made?


For Jonathan, his biggest mistake during the last recession was not being diversified at all. What would happen to short term rental owners if there was a major scandal with Airbnb? What is a hedge that you can build into your portfolio now that has an inverse relationship with a recession so that when part of it goes down, other assets go up.

You need to have an emergency break so you know when to stop borrowing. Set your limits before the crisis so not all your decisions will be emotionally based.

Check your vendors and start building up additional channels for customer acquisition. Don’t just rely on Airbnb. Short term rentals are not likely to go away in a recession but you do need to add a little insurance to your business by removing a single point of failure.


Is there something that smaller companies are more vulnerable to?


The number one vulnerability for small businesses and entrepreneurs is the balance sheet. How many months of operating expenses do you have available in the event that business dries up and you need to survive? Plan for the event that your monthly revenue starts to decline and think of expenses that you can cut at certain thresholds. Have those difficult conversations now before they become absolutely necessary.

Another tip is to think of the niches that bigger businesses can’t take advantage of. What things will people still spend their money on during a recession that you can look to and benefit from?

Reference: Rock The Recession, Jonathan Slain


Jonathan’s Takeaway


The first thing and the most technical starting points you can begin with is bench marking. Take the assessment and find out where you are right now and what you can do to get prepared today.



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Dealing With Bad Reviews Before The Holidays Q&A

Dec 19, 2019 01:35:22


This is a review based business, and that means you will probably get some bad reviews at some point. The question is what do you do about them? More than bad reviews, we’re talking about preparing for the holidays, click bait photos, and more.

Questions and Answers


For the inventory checklist, how detailed do you get? 


You can be as detailed as counting the silverware, the question is “at what point will you file a claim?” It probably doesn’t make sense due to the manpower and hours it would take to follow up on that. A better way to think about it is “is there enough silverware in the unit?” The benchmark for detail should be somewhere around where you would file a claim for.


Preparing for the upcoming holidays


Now is the time to get ready for the holidays. Change the batteries for any automatic door locks, replace the pilot lights for any gas furnaces, get blankets into the units where the climate gets chilly. Have a chat with your crew now to find out if they are going to be working during the holiday.


We had a guest break the do not obstruct the camera rule. How long should we wait to leave a bad review without the guest retaliating? How is the guest punished for not paying the fee?


Many of the platforms have a content policy and if the guest leaves a review that violates the policy it will be hidden. The review is basically the guest’s experience with your service so that means it can be very subjective. When leaving a review, neither party will be able to see the review until both have posted it. Ideally you should wait until the last minute of the fourteen day period to avoid a retaliatory bad review. If the guest has already left the review, then you have to rely on the content policy to help you out.

In terms of fees and guests not being willing to pay, just state the facts of what happened. Remove the emotion and Airbnb may be able to take care of the fee for you.


I have a new short term rental unit, how long should I need to wait to get my first booking?


The first issue with the caller’s unit is that since they are targeting business travelers their unit may be too large. Two bedroom units that are pet friendly don’t usually have vacancy issues. They tend to be perfect for small families going through an insurance claim so linking up with a local insurance company may be a good move. For J, if he’s going to be working with a two bedroom unit, he’s going to gear it towards a market that he knows works well with that much room. Take a look at the events that are happening locally and focus on the kind of customer you want to serve. Another thing to note is that the winter season is slow for the area where this caller is from.

There is a stream of revenue that’s right in front of you, you just need to get clear on who they are and get in front of them. What are they searching for and how can you appeal to them?


Being insurance friendly


Note in your titles for your listings that you are insurance friendly. This has made a big difference in the occupancy rates of J’s units.


Regarding an arbitrage unit, are you protected by your lease if there is a change in ownership?


If you’ve done your lease correctly, they can’t end your lease early as long as you pay your rent and follow the terms. That doesn’t guarantee that they will renew but they can’t terminate it.


What size of unit should I target to get past the ordinances in place and actually reach the owners?


Part of the reason we focus on short term rentals is because we ultimately want to own real estate in the long term. Phase 1 is getting one unit, phase 2 is picking up a few more units, and phase 3 is being able to pick up units at your leisure. Start with the size of buildings that you intend to own and the numbers make sense. 

Don’t go larger than owner direct, you should be able to get the owner on the phone when you need to in the event of a problem. 


What’s in it for a real estate agent to help me?


The short answer is commission. In general, real estate agents will be able to assist you, even if they don’t have all the knowledge of the short term rental model. In many ways, you will have to train them in what you need. 


How do you feel about click bait photos?


This is a horrible idea. When it comes to photos, you are competing for the click and people will not click on click bait style photos. Professional photos are far superior for communicating your brand and business than pictures of Eminem.


Do you secure your wifi router?


On most routers, there is a way to access the control panel of the router that connects all your various locks and devices. The way J protects this is by taking a photo of the physical information on the back of the router, than blacking it out with a marker and electrical tape to prevent a guest from accessing the info. 


Is there anything operationally different for the insurance guest?


No matter who contacts you first, the person will always have to go back to the insurance company. Because of this the insurance guest takes longer to close and there are more questions involved. Also note that insurance guests tend to use a lot of data so keep your internet plan in mind. 

Insurance guests don’t care about recommendations for restaurants and have a number of different concerns that you need to communicate that don’t apply to regular guests.


How will bad reviews influence a new listing? Should I start a new account?


The simple answer is to start a new account. The only factor the caller may want to preserve is the age of the account, but that is more than made up for by the benefits of having a fresh account. By having additional units you would also generate a number of reviews that will minimize the impact of bad reviews if you go the route of not creating a new account.

Sometimes things go wrong and a listing will just need a fresh start.


If you have multiple listings, what website or platform do you recommend using?


The platforms you use should be relative to the types of customers you are trying to attract. Most people should start on Airbnb because of the built in training wheels that help you get started. As you get more experience, it’s easy to graduate to other platforms.


I’m operating in a market with a lot of amateurs, have you ever come across this?


Every market has a significant number of amateurs because the barrier to entry is so low that almost anyone can give it a try. This is why the concepts that J teaches are so important. Do your best to start earning repeat business and you won’t be competing with the amateurs in your market. 


How do you handle changing codes between guests?


J has his team change the codes at 11 am which is also the departure time. The new code is not given to the arriving guest until between 3 or 4 pm. This all fits into the process checklist that makes sure everything is done and ready for the new reservation.


How do you address an inquiry when they don’t have a complete profile?


Many of the platforms have been dealing with discrimination issues and one of the ways that Airbnb has chosen to address it is by hiding the profile pictures of users. They may actually have a profile picture, you may just not be able to see it.


I have three listings and am looking to grow, should I be on multiple platforms?


To get a true ROI from systems and processes, you should definitely look to get on multiple platforms and acquire more listings as soon as possible.


How do you feel about owner financing for short term rentals?


There’s nothing wrong with owner financing a short term rental, you’re just going to give up speed.


Do you have pointers for managing email?


Google filters are your friend, you will get tons of messages which is why we use tools like Smartbnb to make communication easier. Communication is one of the things that can crush you if you don’t do it right.


When should you jump to another platform besides Airbnb?


When your customer is on those other platforms, but don’t concern yourself with scaling until you have systems in place to handle between 7 to 10 units. Keeping track of finances and operations becomes more challenging as you grow so build the systems first.


A question about operating units out of state


It doesn’t matter if you start during high or low season, there are pros and cons to each and they tend to even out over the course of the year either way. 

There is no one system to have in place when looking at a new city, you need all of them in place to have the best chance of success. Having everything in place allows you to simply duplicate what you’re already doing so you can get rolling faster.  




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Learning Is The Only Skill That Matters

Dec 16, 2019 46:43


Jonathan Levi is an experienced entrepreneur, angel investor, and lifehacker from Silicon Valley. Jonathan is known for speed learning his way to all achievements in life: from entrepreneurship to podcasting and even dating. Since 2014, Jonathan has been one of the top-performing instructors on Udemy, with his course Become a SuperLearner® (now retired) earning him over 60,000 students. 

He has since snowballed this success into the launch of his own brand and platform, SuperHuman Academy, which produces such products as the award-winning SuperHuman Academy Podcast (3 million+ downloads) and numerous online courses. He is based in Tel Aviv, Israel, preparing to release his 3rd book “The Only Skill That Matters”  

Podcast Highlights


Who is Jonathan Levi? 


Jonathan grew up in Silicon Valley and was always meant to be an entrepreneur. In many ways he struggled in school because he couldn’t learn the same way that everyone else seemed to do. Deep down, Jonathan is a maker and a creator that is focused on solving problems and learning new things all the time.

Jonathan was always a bright kid but he had problems in the classroom environment. The only way he made it through high school and got through the curriculum was by being medicated.  When he got into business school, he knew that medication wasn’t going to cut it. He needed to figure out another way to learn that made sense for him. It was around that time that he found someone who had developed a methodology for speed reading and accelerated learning that completely changed Jonathan’s life and gave him his first real world super power.

After meeting multiple real world super humans, Jonathan learned that anyone can do these incredible things simply by learning the techniques and practicing.

Jonathan is a big believer in the law of attraction, but he’ll be the first to tell you that it only works if you implement the law of action first. There are very few things in life that can’t be accomplished if you put in the work to learn the ropes. Whatever challenge you are facing in life, the difference between excitement and anxiety is knowledge.

For Jonathan, it was a series of individual moments that culminated in his super power. He didn’t plan for online courses to be his business, it just sort of happened after moving to Israel and exploring entrepreneurial opportunities. After discovering a course on coding and seeing how successful it was, Jonathan dug into what it took to create a course and put out his first one on Udemy. Slowly but surely, it developed into a full time business.


Learning Is The Only Skill That Matters


Learning is the ultimate meta skill and the only skill that matters. There are proven techniques to improve your ability to learn. There is no genetic advantage that the world’s best learners have over everyone else. Studies have shown that with six weeks of training anyone can rewire their brain to resemble the brain of a memory champion. There are people well into old age who are learning new skills just as efficiently as their younger counterparts. 

You don’t have a lousy memory, you just don’t know how to use it right yet.

Our current education system hasn’t been modified for a long time. It hasn’t taken in the new ways of learning that we’ve discovered in recent years. It’s actually theorized that the ancient Greeks used similar techniques of visualization that advanced meta learners use today, but the techniques were suppressed by the early Church. 


Learning vs Memorization


There is a difference between memorization and learning but we can’t learn anything without committing it to memory. You need to be able to apply your knowledge in order to make use of it, but that’s not possible without memorization first.

Reference: The Only Skill That Matters, Jonathan Levi


Jonathan’s Takeaway


Make it simple, if you experience a quick win you will likely want to experience more. In the next 24 hours you are probably going to encounter five to ten new people. Introduce yourself and memorize their name by creating a unique visualization for each one. Before you go to bed, set yourself a reminder to review how many people you remember. If that intrigues you, you are ready to experience something that is exponentially more powerful.




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The Listing Reviews Q&A

Dec 9, 2019 01:05:19


Sometimes your technology breaks on you! Even so, we’ve got a number of listener questions tackled today including a couple brutally honest (but helpful) short term rental listing reviews. We always come from a position of honesty in hopes that you will make more money, so we’re not going to tell you comforting lies just to make you feel better. Listen in to learn why the bad photos can sink your listing and what you can do about it.

Questions and Answers


A question about a 37 day booking and the importance of reviews 


One of the things to know about the short term rental business is that it is definitely a review based business. Experience in this business is generated specifically by scaling up and doing the work more often. For this caller, they shouldn’t pass on the 37 day booking unless it is going to hurt their business long term.

A long term booking will always make that unit’s performance suffer when compared to other more short term reservations. But if it allows them to add another unit financially, it may be a good move because it will allow the caller to achieve Super Host status by the end of the quarter. 

It can also be important to run an AirDNA report on your zip code to understand the trend for your area. That will allow you to understand whether your prices are on point or if you’re leaving money on the table.


How do I get an affiliated link from Uber and Lyft?


Inside the app, you can find your share code which is the code you can use for your bookings and guests. Working with restaurants by sending them business instead of getting paid for the referral may actually be superior to an affiliate relationship. Having them on your side in political or municipal issues will probably be more important than having an additional revenue source.


J reviews a caller’s first post on Airbnb


When creating a short term rental listing, lead with photos with the inside of the unit instead of the amenities. Photos of the exterior can also lead to security issues if it’s possible to identify the address of the unit.

The caller’s photos should probably be reshot due to the handheld nature of them as well as the general poor quality. They suffer from lighting and focus challenges and the caller’s bookings will probably be lower than what they could have achieved. Another good tip is to stay away from vertical photos at all times.

The caller has definitely put in some work on the short term rental listing, but seems to have skimped on a few crucial elements like the photos and design. In order to tell the right story with your photos, you have to make the investment and do them right.

The ideal reaction to your short term rental listing should be the reader feeling like they must stay at your unit.


I’ve got a meeting with the zoning department, do you have any pointers for me?


Since the caller only has three minutes to talk, he should be using his time to instill doubt in his listeners because right now they are certain that the caller is the bad sort of short term rental owner. He should show them that he’s a professional and has systems in place to deal with all the common issues that people complain about with other less professional short term rental owners.


Another review of a caller’s first short term rental listing


The caller already has some hesitation about the photos for her listing. The reason the photos look off to the caller is that their photographer used HDR, which is something that you should always avoid. HDR can cause many different types of issues with the lighting and focus of the photo.

Nearly all the photos on the listing have to be scrapped. Preferably, the next photographer avoids HDR, uses a 15mm lens, and uses natural light instead of attempting to color correct after the fact.


How much can I depart from the blueprint you’ve laid out if it makes sense for who we want to serve?


If you’re thinking about who you want to serve and making choices based on that, you aren’t deviating from the blueprint at all. If the caller wants to serve business travelers from Mexico and knows what they need and want from a short term rental listing, then they should go for it. 

One thing to keep in mind is that business travelers probably don’t need much square footage and if the caller goes with a larger unit they may run into underutilization. The bulk of business travel is done with smaller units.


Any thoughts on Properly to manage cleaners?


Properly is a great tool to manage cleaners, but the question is can the staff doing the clean effectively use the tool. If they can, then definitely take advantage of it.


Do you refresh Wheelhouse manually?


J lets the software refresh all its own and it handles everything just fine. He does check it a couple of times a week just to make sure it’s doing what it’s supposed to be doing but that’s it.




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Finding Good Deals in the Short Term Rental Business Q&A

Dec 5, 2019 01:30:03


There is no definitive good deal in the short term rental business. If you want to know if your deal is good or not, you need to know one simple thing first. It’s something that’s going to drive your reviews and the growth of your business, and that’s meeting your customer’s expectations. Figure out who you want to serve first and that will make the answers to your questions much clearer. 

Questions and Answers


Are you still hunting for apartment deals? 


J still loves apartments, he’s just changed who he puts in them. With apartments, net operating income is the name of the game and most importantly, if you can manage that properly the value goes up as well. J is not getting out of the apartment game anytime in the near future.


Do you think it’s a good idea to incentivize guests to do a load of laundry before they end their stay?


Quality control becomes an issue here. How do you know the laundry was cleaned correctly? There are other ways to lower your cleaning costs if that’s the goal. J tends to shy away from asking his guests to do anything, some guests will actually become offended by getting the request to do additional work. For this particular caller, the issue may lie in the cleaner that he’s using and their method of billing for work. Ideally, with a linen service, you should only be paying for your laundry that has been weighed while dry.

When it comes to a guest checking out, if you have a checklist for them to complete, be upfront with the reasoning for the tasks so they don’t have to wonder why they are putting in some extra work.


What’s the best way to avoid bed bugs before they appear?


Bed bugs tend to come in with a guest, they don’t typically just appear. A good tip is using a metal luggage rack to reduce the incidence of a guest putting their luggage on the bed directly. Protecting the mattress with a casement is also a good precaution.

Bed bugs are typically pretty rare, but there are still steps you should take to minimize your risk. Insurance is one example of a way to cut the cost, the trick is making sure the coverage is actually what you need. It’s not uncommon for a bed bug infestation to cost you thousands of dollars to remediate. Be sure that your insurance actually covers bed bugs specifically. You don’t want to get into a situation where you save some money on your premiums but aren’t actually covered from the risk you’re trying to mitigate.


How do we get around the key fob issue?


We tend to leave the key fob inside the unit and the trick is getting the guest to the unit for the first time. Module 3 of the Mastermind product covers this in more depth. Go to cashflowdiary.com/star to learn more.


Pricing in the Short Term Rental Business


As you enter into your slower season, pricing becomes even more important. If you aren’t doing dynamically adjusted pricing, you’re either leaving money on the table or having a lower occupancy than you should.


I have an opportunity to buy an eight unit apartment building and I want to use them for short term rentals, do you think this is a good deal?


There is no definitive good deal. What’s a good deal for J will probably not be a good deal for you. However, there is a customer that your business is best suited to serve. There are other factors that determine if the deal is right for you and it all stems from who your customer is. You won’t know it’s a good deal until you know who your customer is. 

What’s most important, what’s going to drive your reviews and the growth of your business, is meeting your customer’s expectations, and you get to choose who you want to serve.


What markets do you search for apartment deals in?


Deals tend to come our way right now, so J isn’t on the search for apartments deals at the moment. If we were looking, some markets might include Long Beach, Phillidelpia, and parts of North Carolina would be on the list.


What are some ways that you can find owners that are willing to do subleasing for Airbnb?


There are a couple of things to understand. You are not subletting and you don’t have an Airbnb business, you have a short term rental business. If you start off thinking you have an Airbnb business, that will limit your capacity. That being said, finding landlords is fairly easy. Look for “For Rent” signs and call them. To get a better idea of what to say and how the system works, check out the free presentation at cashflowdiary.com/star.

Owner controlled buildings are a great way to build your experience while also building your business.


I have three units and people want to rent them long term, how can I prevent that?


It’s not uncommon for a smaller square foot location to outperform a larger square footage space in certain markets. Since the clients that the caller is asking about are typically business people, there shouldn’t be a big issue with letting them rent long term. Whether the guest wants to stay one day or hundreds of days, it doesn’t mean you have to discount the price. 

Offering an incentive like a free TV when a guest books long term is another good way to get the guest to work very hard to get their HR department to cover their stay.


I have a guest that has a service dog that they didn’t tell me about and I’m trying to evict them, what should I do?


This caller is creating a difficult problem for themselves by trying to evict the guest. If it’s an actual service animal, they may just want to leave it alone. If the animal ends up damaging the unit, they can deal with it then. 

Since the guest has a service animal and the caller has caught them, they can now go to them and communicate that there are other rules that need to be followed. If they are going to call the animal a service animal and not follow service animals rule, then he may have something to work with.


What are ways to market your short term rental business, and how do you become a student?


You become a student by starting with the presentation at cashflowdiary.com/star. There are two products available. The Blueprint is meant for students to learn how to get their first unit, the Mastermind product is for those students who are ready to scale their business. 

In terms of marketing, the most important thing is to first understand who you are serving. Once you know that, you will know where and who to market to. Don’t even consider marketing until you understand your customer.


With the TV incentive, do you send it to their home address?


We just drop it off at the unit and let the guest figure out how to get it home.


I’m looking to buy linens in bulk, any suggestions?


Go to cashflowdiary.com/silkysheets to get a 15% bulk discount for Cashflow Diary students.


Do you allow your students to use you as a reference?


We want you to be your own person, even someone new to the business shouldn’t need a reference from J. Getting into the Mastermind product will give you the specific approach to use and have the confidence to deliver the results so you won’t need a reference.


What do you do when a guest has rental remorse?


We simply stick to our cancellation policy and enforce it.


When should we use VA’s?


Since the caller is just getting started, they can comfortably run the business themselves until they have somewhere in the ballpark of thirty units. Doing the work himself initially will allow him to develop a system and SOP’s for how he wants to get the work done. Once he’s grown enough (or has had enough with dealing with guests directly), he can consider bringing on VA’s to help.

J didn’t start running 24 hour coverage until he already had twenty units. At that point, it’s possible to run the business with a minimum of 5 individuals working 40 hour weeks.




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Is It Too Late To Start The “Airbnb Process”? Q&A

Dec 3, 2019 01:07:41


If you’re thinking about starting the “Airbnb process” and aren’t sure if you’ve missed the boat, listen up. Real estate is changing but it’s not too late. Airbnb is just one of many marketplaces that we use. Short term rentals are here to stay and if you want to learn how to build your real estate portfolio, now is a great time to start putting the systems in place.

Questions and Answers


I’ve been able to get the landlord to agree to the short term rental business model in general but I’m not sure I can make a profit, what should I do? 


Step one always comes down to understanding who it is you want to serve. When you focus on who you want to serve, one of the criteria you’re looking at is their income. That will help you understand what area of town to be in and how much they will pay for certain experiences. All your streams of income will be based on how much income your ideal guest makes. 

Once you know all your potential areas of revenue, you will be able to subtract out all those things and complete the picture of profitability.

It can be difficult to use aggregated data to determine what your prices should be. The spread is so wide that it’s not very useful for identifying a specific case like your listing. Once you complete the exercise of figuring out who you’re serving, it becomes much easier. Keep in mind that your revenue is much more than just your room rate.


How do I automate my messaging system?


Lodgify has a rudimentary system for messaging. What we do to shortcut that is provide our guests with a link to an electronic house guide where all the relevant data is included. Everything except the dynamically generated door code because we still want to be able to maintain control of the access to the unit.


A question about a listing review


The caller’s photographer did a good job on the photos for the listing. Since the caller has followed the system closely most of the details are on point. One area that could be improved on is the copy detailing the neighborhood. Your listing is your first line of customer service, if you answer the question before the person asks you have one less question to answer later on. This can really help save time once you have a number of different units.


Which program should I consider to learn how to manage resort properties?


In terms of execution, resort units are very different from residential. In some ways resort units are easier because the kinds of customers you are serving are more obvious. For this particular caller and his thirteen units, the Mastermind Product is his best choice. Go to cashflowdiary.com/star to learn more.

When it comes to negotiating with the owner of the property, the structure the caller is using is the same one that we use. If the owner wants a cut of the business, they have to be able to contribute more than just the space. Otherwise, renting the property from them is the right way to go.


How do you dynamically generate a door code?


It depends on the platform you’re using. Sometimes the software you’re using can integrate directly via an API to create the door code, other times a personal assistant can do it.


What’s the difference between leasing an apartment under an LLC or my own name?


The difference between the two is in who is doing the business. What it comes down to is if something goes wrong, who does the landlord have a claim against? You or your LLC? If you’re trying to accumulate assets, it’s generally best to use an entity to shield those assets.


Is it too late to start the Airbnb process?


We are not in the Airbnb business, we are in the short term rental business. Airbnb and the rest are marketplaces. It’s not too late but you also have to understand that real estate is changing. Many of the established players in the industry have begun to mimic Airbnb because of these changes. 

Even how we transact real estate is changing due to the technology involved. It’s only becoming more liquid as technology makes the process of transacting faster and easier than ever. Just because you didn’t recognize the change before it started doesn’t mean it’s too late. If anything, now is the perfect time.


How are you doing Homeaway pricing?


Right now, Homeaway pricing is being done updated twice a day based on comparable pricing on a set of properties within the software. 


Did the automated messaging templates come out yet?


Not yet, but existing Mastermind students will have access to the templates very soon.


A note on the upcoming holidays


Now is the time to earn some additional revenue and create really great experiences for people. Make sure your security measures are working and everything is up to date. What could happen is not something you want to have happen. Get everything lined up including your pricing, inventory, and team now so you can take advantage of this time of year. 


Are there effective ways to approach companies directly about bookings?


There are a number of ways to go about this. The front door method is to look up Concur customers in your area. They are already potential customers for your business. If you’re using the system we suggest, you can also create a promotion that incentivises your guest to refer you to the person that arranged their travel. If they are corporate travelers, they know exactly who you need to talk to and that’s a great way to get your foot in the door.




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Shawn Harper’s Winning Edge

Nov 25, 2019 44:40


Shawn Harper is a former American football offensive tackle in the National Football League. Harper was drafted by the Los Angeles Rams in 1992. He also played for the Houston Oilers, the Indianapolis Colts, and three years in NFL Europe with the Amsterdam Admirals and Frankfurt Galaxy. Shawn Harper appeared on the hit MTV show Made. He has helped transform thousands of corporate environments, built leadership, trained teams and impacted youth development in schools, and churches with high energy keynote speeches that activate winners. 

Shawn Harper is the bestselling author of The Winning Edge: 8 Principles That Will Bring Out the Winner in You! and founder/CEO of American Services and Protection, which has provided Ohio small and medium-sized businesses, corporations, municipalities, non profits, government agencies, colleges, and universities and organizations with a wide range of security solutions that focus on providing highly-trained professionals, tailored to the specifics of each job. 

Podcast Highlights


Who is Shawn Harper? 


For Shawn, it’s very hard to define who he was looking back from today’s perspective. We tend to gloss over the story in the process of becoming who we are. Shawn was plagued with setbacks and adversities in his youth, he was actually voted most likely to fail in school.

Adversity can make you or break you. Shawn’s school days were tough and early on he believed himself to be the loser that everyone else thought he was. It wasn’t until he changed his mindset from victim to victor that everything changed.

Never allow people to create your world because they will always create it too small. When Shawn made the decision to focus on his dream of playing in the NFL instead of listening to what other people thought he was capable of, nothing was the same. Once you change your focus, you change your life.


What was the transition like from playing football to the world of business?


In the case of the NFL, there is an established system in place for growth and development. For many people, when they leave that team and system to go do something else on their own the result is usually failure. Even superheroes have friends and support to help them achieve their goals. When athletes leave the game, they must build a team and find mentors to help them in the new arena. That was the secret to Shawn’s later success. 

It took years for Shawn to come to that realization. All success in life comes from people having a team around them. 


Playing To Win


We are created to win. Your perspective is everything in this regard. We are attracted to winning and nearly everything we do is geared towards winning. In third or fourth grade we are introduced to a different concept called success. Success teaches you production, but winning teaches you re-production. Successful business people are productive, but winners scale their business.

A lot of people get dismayed, depressed, and angry because they know they are successful but deep inside they know they are not winning. Winning has been hijacked by success.

The secret is to start moving, get out there and start connecting with people in whatever domain your win happens to be in. If your win is mentoring small business owners, start connecting with small business owners!

The way you motivate or encourage one person, is not how you will motivate or encourage another. You have to find your team’s pain points and motivations and learn how to speak to them as a leader, because everything comes down to people. 


Is where you are today something you could have envisioned?


Shawn had no idea he would be where he is today. There is a major difference between your image and your identity, but if you’re not careful you will buy into other people’s perception of your image instead of who you really are. Most of Shawn’s life he was caught up in everyone else’s image of himself. It wasn’t until he started building skill sets to define his identity that things changed.

If you can walk in and apply your concept of winning a little bit every day, then your perspective on who you are and what you manifest changes. All actions stem from thoughts, and all thoughts from belief systems. Your belief system is nestled in your self concept and you always manifest your self concept. Don’t let missed opportunities define you, stay focused on your goals.


Getting Past Failures


One of the greatest advantages athletes have is more than just experiencing failure on a common basis. It’s the team around them that keeps pushing them on and encouraging them. When we’re alone, we’re much more likely to hang up the cleats when we fail, but a team can provide the motivation we need to push through. Even leaders need encouragement from their team.

To have that person in your life that believes in you is vital, because without them life will chew you up and spit you up.

Reference: The Winning Edge: 8 Principles That Will Bring Out the Winner in You!, Shawn Harper


Shawn’s Takeaway


Three words haunt Shawn: Wish’a, Could’a, Should’a. You can not live life comfortably, because if you’re not careful your comfort zone will become your casket. You will get knocked down but failure is your friend. Learn from the failure and get back on the bike. The average millionaire has filed for bankruptcy three times, don’t give up.


How To Win Friends And Influence People


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Introducing The Instant Book Special Q&A

Nov 21, 2019 01:12:45


Get unstuck and get one step closer to making short term rental real estate a real thing for you. Get answers to your questions so that you can keep moving forward towards your financial and business goals. 

Questions and Answers


We are entering into the slower winter season, what additional things can we give to our guests so they book with us over others? 


The first time experiencing a slow season can be a challenge. The caller has been leveraging his membership with his local BNI group which is a great place to start. Another potential avenue is to connect with the travel agent in the group and ask them about working together. It’s possible to start generating instant book specials that allows you to acquire a guest at your advertised rate while also creating a referral for the travel agent.


How would you pitch to a BNI group?


It takes a while to get any sort of response from a BNI group because their reputations on the line. As you build your relationships in that group you want to focus on creating a power team, where each individual has different strengths. 

Think about your centers of influence, like doctor’s offices that are members of the BNI group and start building those relationships.


How do you deal with a secured building?


There is a module is the Mastermind Course that members of Cashflow Diary can access that helps with this issue. The key question to ask is “if I order food, how does the food delivery guy get to the front door?”. Whatever the process is, that’s how your guest will access the unit.


How can we have properties in a state that we are not even in?


To have a property all you need is a lease, so it doesn’t matter where you are located. If you run the system properly, it only takes around an hour a day of your personal time to manage your business. If you have to do everything yourself, you don’t really have a business, you have a job. With the short term rental model the business is completely location independent. That being said, start where you live.


How would you offer the instant book special on the platform?


You would simply change up the title and description of your listing to describe what your extra offerings are. It’s also possible to set up an automatic sequence that connects the guest to your offering once they make a reservation and then sets up the connection with the travel agent as well.


How soon should I be negotiating for first right of refusal for a property?


Since the caller is willing to purchase the remainder of the units in a multifamily property, it should be very simple to ask the landlord for the first right of refusal if at some point in the future they consider selling. Now’s as good a time as any to start negotiating.


What are your feelings about incorporating in another state?


This is not legal advice, but since the person resides in California incorporating in another state may save them some costs. They should consult an attorney.


What are some ways to identify the city and zip codes near me so I will be profitable?


Rather than focusing on the money, think about the person you are going to serve. Profits can become a function of additional services regardless of zip code. Think about what your customer is coming to do, and then think about how you can be near where and what that is. That will tell you what area you should be looking at.


Do we have a master tech guru playbook?


Most of this information can be found in Module 3 of the Mastermind Course. Once you work through the info you may not even need the tech guru.


How can I find a runner to do some physical tasks?


You will have to go through a number of vendors before you find the right one to handle your physical operations. It’s unavoidable but necessary to do the work.


A question about a short term rental opportunity


The caller is considering an opportunity to create a short term rental in his parent’s basement. The caller should look up CPTED if they go this route to make sure the unit itself is more secure. He would also have to consider the noise levels and if that would be an issue. Trash will also become a challenge.

One of the caller’s concerns was the walk score of the unit, but that may not be an issue depending on who they want to serve and what those potential guests expect to do.

Between the two units, the only difference is the commitment, since he will be spending roughly the same amount of money. A good resource to check out is episode 320 of the Cashflow Diary podcast.


How do companies have multiple units in Denver when they only allow one primary resident?


These companies are much larger and usually VC funded, but they are running a very similar model. In the case of Denver, always read the ordinance because most of the ordinances will cover the where and the how. Very few of them completely restrict the model entirely. Short term real estate is often zoned differently and is not covered by the ordinances posing the issue. A minimum stay requirement can also help you deal the problem.


Do you think a short term rental with a walk score of 0 can work if it’s a 20 minute drive to most local attractions?


The short answer is yes. It’s not about the real estate, it’s about the experience on the piece of real estate. A walk score does not determine whether a property will work or not.


Can I get a cosigner to get an apartment and what percentage is good to return the favor? What happens if the landlord learns that the property is being used for a short term rental?


We always operate transparently, the landlord should already know what the intent is so there are no surprises. A cosigner is definitely an option. Check out the Mastermind Course to find out more and listen to episode 548 of the Cashflow Diary podcast.


I just started Airbnb three weeks ago and am having a challenge of not having any guests?


We don’t do Airbnb, we’re in the short term rentals business. Airbnb is one of the marketplaces that we use to market the business. In the case of not having guests, without knowing what system you’re running it’s hard to give specific advice. The first thing is to always start with who you want to serve and then building your business out from there. Check out cashflowdiary.com/star to learn more.


How much would you pay a virtual assistant and for how many hours a day?


Instead of just hiring a virtual assistant, you should think about what role you want them to play. In J’s case he has a team of managers and customer service agents that are available 24/7 that he sourced through Upwork.com.



Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes and Stitcher Radio!

How To Take Good Photos Of Your Short Term Rental Listing Q&A

Nov 20, 2019 01:31:54


Taking the right photos can make or break your short term rental listing. In today’s Q&A episode of the podcast, we do a full review of a caller’s listing photos and everything their designer and photographer did right, and all the things they did wrong. We also cover why it’s so important to have your spouse on board with your business, as well as the pros and cons of bringing cleaners in house.

Questions and Answers


What is the best way to see if the HOA is okay to turn my home into a short term rental? 


The best way to figure this out is to read their Covenants, Conditions & Restrictions (CC&Rs). They will typically let you know what they like and don’t like, be aware they may not use the words “short term rental” but they will probably mention something along those lines.


A question about setting prices across multiple platforms


The caller currently has Price Labs connected to Lodgify, which is then connected to Booking.com and Airbnb. In order to change their prices between Booking.com and Airbnb, the caller needs to take Price Labs and connect it directly to Airbnb. Once that’s done, she can create a child listing in Airbnb.


I have some photo violations on my listing, what should I do?


It appears that the caller’s designer and photographer need to make some changes. Photos where the angle is not level or where the property appears dirty because of poor lighting are going to be major problems. Be aware that when your photographer uses HDR, it’s going to reveal lots of imperfections so it’s probably best to avoid it. 

If you’re not providing a laptop with your rental, don’t take photos with a laptop in it. People will make assumptions about that sort of thing. Same goes for sheets and towels of different colors. Avoid lights that don’t have a daylight balance for your photos. 

Short term rentals are a review based business, and reviews are primarily about setting the correct expectations at the beginning. Poor photos can end up costing you money, because what you photograph is what your guests will expect. If you deviate from that, that’s when you run into bad reviews. Be careful with the wording on your post as well.


What are your thoughts on the Airbnb custom URL link for listings?


It’s a band-aid at best. You want to have control and if you’re going to take the time to promote a listing, you should drive that traffic to your domain. That’s what is going to build your business long term. 


The importance of having your spouse on board


As entrepreneurs, we tend to believe that things will work out for us. It’s just how we’re wired. Having a spouse whose perspective you trust on your team will make a huge difference for you. If you’re spouse is not already on board, keep in mind that they are mainly concerned with whether or not they will be okay, especially at the beginning of a new business. 

This business is a team effort, just like raising a family. Make sure they know what contribution they are making, because without them, things would not be where they are. Go find your right hand person.


What calendar rules should we set for the holidays?


When it comes to the holidays, your calendar rules have a lot to do with your staff. Are they okay with working/do they celebrate those holidays? We don’t mind arrivals on a holiday, but we do block people from departing on a holiday, but that is a conversation you need to have with your staff well beforehand.

Minimum stays on the holiday will change depending on the holiday itself. Some people can get away with a seven or fourteen day minimum for holidays like Christmas.


Can we talk about a cleaning company versus having in house cleaners?


There are a number of things to consider before bringing cleaners in house. Being able to classify your cleaner as a contractor will be crucial to your cost structure. Part of your cleaning costs have nothing to do with cleaning, and everything to do with the organizational cost. Be very clear that you can keep them on as contractors.

The other issue is scheduling. With a company, the process is simple. They have a number of people available at a variety of times when you need them. If you can have someone internally take care of the scheduling and the size of your business justifies it, then it may make sense to bring cleaners in house. 

You are going to need a consistent pipeline of people to hire and train. Hospitality has an incredibly high turnover, so you need two systems in place if you go down this road. Specifically hiring and training. 




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Al Williamson on the Secret Behind the Extended Stay Model

Nov 6, 2019 58:11


Al Williamson is a professional engineer, full-time real estate investor and the author of several real estate books. He began investing in 1996. Al is best known for publicly documenting his quest to create enough secondary income streams to cover the 1st mortgage of his eight-unit apartment building (which he accomplished in September 2015). He is now trying to figure out how to maximize the cash flow of a small portfolio so it can generate enough income to replace a middle-class job. Al is a proud family man who now spends his day managing and expanding his corporate housing business in Sacramento, California. 


Podcast Highlights


Who is Al Williamson? 


Before everything that people know Al Williamson for today, he was training to become a professional gymnast. That was until he broke his arm on the high bar and realized that he was going down a risky path. He switched course and learned to be an engineer and started creating things.

It wasn’t until meeting his wife did he consider getting into real estate. He met a guy at a church picnic that turned him on to real estate investing and after reading everything he could about the subject at his local library Al realized that it was exactly what he was looking for.

Al Williamson and his new wife purchased a triplex and it eventually quadrupled in price. That early experience brought his wife on board with the whole idea and taught them plenty of valuable lessons. He leveraged that into his next purchase where he had a major focus on cleaning up the local neighborhood. It was a relationship with a local health center that later got Al into the short term rental space.

One of the easiest ways to get into the real estate game and put yourself into a profitable position quickly is by leveraging short term rentals.


Was it a challenge in making the short term rental model work in California?


Initially the numbers didn’t work out for Al because of maintenance costs. Owning property is a great way to build wealth but a bad way to generate income because something is always broken that needs to be replaced. You don’t get to keep the money because it has to go back into the property until that debt service is finished. In a lot of ways, short term rentals were the answer to Al’s problems.

There are a number of different ways that short term rentals solve the issue and there are tons of opportunities to increase your cash flow. By experimenting with one unit for short term rentals Al was able to generate the same net income as his three other units. The extended stay model is changing the way Al is structuring his business because the trend of people wanting to live in one place and work in another is taking off.


How do you market for long term guests?


Al has 14 different marketing strategies that he uses to bring in extended stay short term rental guests. A good indicator that your market can support the model is if there is an extended stay hotel in your area already. From there you need to get out from behind your computer and have a conversation with real people. Talking to the bartender at the hotel can yield some valuable info.

Extended Stay America is doubling down on the one month and two month guests. It’s a big business and major hospitality companies are beginning to recognize that.

If you’re working with Airbnb you’re going to have to put your listing together. The headline of that listing is very important and you can use that to call out the exact type of customer you are looking for. Write your headline to resonate with that person. You can also set your minimum stay requirement so Airbnb only shows your listing to people looking for an extended stay unit. Do things to separate yourself from the rest of the competition.

There is a growing need for extended stay units in America, it’s up to the housing entrepreneur to step up and answer the demand. The type of the property is less relevant than the type of customer you want to serve. Stay in your lane and serve people like you because you will have a better understanding of what they need and want. You will make the same net income. 

You can make your decisions based on gross income, which many people do, but only the net income really matters. You can make different decisions and save yourself a lot of time and energy and still make the same net income.

Most ordinances were written to slow down transient rentals and prevent them from competing with the existing hotel businesses, but they are not intended to affect month to month rentals. Month to month rentals are the cornerstone of affordable housing and they know it.


What are some differences you’ve seen between people running a less than 30 day stay business and a greater than 30 day stay?


The less than 30 days operators are looking at serving tourists and convention goers. For the people focusing on more than 30 days, they are thinking about other features that are important to a different crowd. Things like parking and laundry facilities. They also get the advantage of business travelers being more forgiving and easy going in general because they aren’t paying for the stay out of their own pockets.


What are some alternative ways to attract your target market?


Facebook has been very effective, having your own group is a good way to let people know what you’re offering. Al also has his own website which has been a good tool in attracting extended stay guests. When you’ve been in business for over a year, your reputation starts to do some good work as well.

Al has eight different categories of customers that he caters to: vacation renters, military housing, student housing, insurance housing, corporate rentals, people in between selling their homes, and international housing. There is also medical housing that’s broken down into three different types as well. You can take those categories and figure out which one you want to dominate and then start growing your funnel for that category.


How do you avoid having to evict or grant tenancy to someone?


Al hasn’t had to evict anyone because he mainly serves business travelers and they are just not going to stay. Even if they did, if they’re happy paying an elevated rent than what’s the problem? 

The main purpose of a lease agreement is to turn a transient into a tenant, which means the relationship is governed by a different set of laws. If you do that, then all the ordinances and laws around the typical short term rental transients no longer apply.


What are the special services you’re offering to increase your net income?


Al started off by offering a menu of cleaning services to guests but he found that they generally just wanted to be left alone. Do you it yourself options like a washer and dryer are much more important.


Al’s Takeaway


You need a coach to help you get the best out of you and overcome your subconscious. They will also help you avoid making the basic beginner mistakes. Al would be happy to coach you and be your booster rocket to help you launch your real estate business.




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The AirBnB Way with Joseph Michelli

Nov 4, 2019 35:44


Dr. Joseph Michelli, Ph.D., C.S.P., is an internationally sought-after speaker, author, and organizational consultant. Dr. Joseph Michelli is the author of numerous national bestsellers, including The Starbucks Experience: 5 Principles for Turning Ordinary Into Extraordinary, The New Gold Standard: 5 Leadership Principles for Creating a  

Legendary Customer Experience Courtesy of the Ritz-Carlton Hotel Company, and the New York Times #1 bestseller Prescription for Excellence: Leadership Lessons for Creating a World Class Customer Experience from UCLA Health System. 

He was named as one of the Top 10 thought leaders in Customer Service by Global Gurus. His new book is The Airbnb Way: 5 Leadership Lessons for Igniting Growth through Loyalty, Community, and Belonging. Dr. Michelli is an opinion columnist for the CEOWORLD magazine.

Podcast Highlights


Who is Joseph Michelli? 


Joseph was a kid raised in a small town in Colorado and his parents imparted a key lesson to him when he was young. Namely, the responsibility of being raised in that family was that he would give more to the world than he took, and if he did the world would give more to him than he could ask for.

Being accepted into graduate school was quite an achievement for Joseph, no one else in his family had graduated from college at the time. He was pretty focused on his own success in his career for a while until he realized that it wasn’t really about him at all, it’s about telling the stories of the clients he worked with as a consultant. Ultimately, those experiences helped Joseph write books about other people to tell their stories.

All of the art of success is taking great principles and celebrating the victories of people you work with and people who are doing inspiring things in the world. The world is hungry for uplifting positive leadership and tools that enable them to experience their own greatness.


Inspiring Greatness


We are in a world where short term rentals have blown up and AirBnB is a point in that journey. They created a marketplace that unlocked incredible potential for millions of people and now they are on the same playing field as historical giants like Marriott.


What is hospitality?


Hospitality is taking the basics of service like being responsive, acting with urgency, get it right and make it right, and consistency, and then adding on the understanding of human needs that go beyond a transaction. It’s about an emotional experience where someone cared for and about me in a world that is often very lonely and strange.

The real estate itself is the table stakes of getting into the game. The experience is far more important and that’s the element that’s missing in the corporate way of doing things. In many ways the big hospitality companies are trying to emulate the more successful short term rental operations.

Solopreneurs will always have an edge over massive businesses because they’re more nimble and can provide a more personal touch. A smaller player can always be a more personal player than any large service provider.


AirBnB vs The Old Model


AirBnB looked for people with the expertise and sought them out as mentors. A lot of AirBnB’s success is in the practice of looking for mentors and seeking out information from people that know more.

Part of the notion of seeking insights from someone else is in seeking community. Hosts in AirBnB do more than offer a place to stay, they create jobs and opportunities in the community they operate in. One of the things that AirBnB has done really well is in advocating for short term rental rights.

Loyalty comes from helping guests feel something. AirBnB is selling belonging as part of the experience. If operators drive loyalty back to the platform that will keep driving revenue back to them.

The host community is on the whole very welcoming but there is always a subset of the population that wants to live out their prejudices. AirBnB has taken steps to correct that tendency and police the one off incidents. It’s a work in progress but the situation is getting better.

There is a need to be a responsible host so some level of regulation seems to be necessary. The issue is when regulations become overreaching and start dictating what people can do with their own property. There is an incredible amount of industry that is being created by the short term rental space. 


What are some potential pitfalls of the growth of the short term rental space?


Regulations are certainly a concern, a lot will depend on what happens when AirBnB goes public next year. Market share will be an issue they need to deal with in the near future as well. Scandal is another, some brands become big targets for entire industries. 

Reference: The Airbnb Way: 5 Leadership Lessons for Igniting Growth through Loyalty, Community, and Belonging, Joseph Michelli


Joseph’s Takeaway


First and foremost, you have to say you have something of value to create in the world and you are going to define that value clearly. It’s always a matter of understanding the market and then articulating the value that you bring to it. Business is not as complicated as we make it out to be. Just go and start and keep in mind the five dimensions of a successful business.



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Innovation in Healthcare, Boon Is Changing The Game

Nov 1, 2019 41:00


Ryan Vet is an innovative leader, entrepreneur and author. He has presented to audiences around the globe on four different continents on leadership, marketing and reaching your maximum potential. 

Ryan’s experiences range from start-ups to well-established multi-national, Fortune 500s. From starting his first business at age 14 to launching and successfully exiting start-ups, Ryan is a serial entrepreneur. Currently, Ryan serves as the CEO of Boon—an on-demand, temporary healthcare staffing platform (imagine Uber meets eHarmony meets healthcare staffing). He has been featured in countless publications for his entrepreneurial endeavors and has been inducted as an official member into the exclusive Forbes Communication Council.  In addition, Ryan hosts The Dental Experience Podcast. 

As an experiential marketing and branding consultant Ryan has worked companies from start-ups to iconic household brands. And in his spare time, he co-owns a series of craft beverage lounges called The Oak House. Ryan also sits as an advisory board member for a number of organizations including Elon University’s Doherty Center for Entrepreneurial Leadership 

Podcast Highlights


Who is Ryan Vet? 


Ryan has always loved creating and it’s been at the core of his career. His first real business was a lemonade stand where he learned how to diversify his products and captivate his audience with marketing. Somewhere in between his petting zoo and his lemonade stand, Ryan also developed a trading card business at the age of 11. It was a long journey from the lemonade stand to Boon.

When Ryan was younger, some local businesses realized that he had some talent with websites and basic graphic design and this actually lead to his first real business. He built a marketing company that served 200 clients in 25 different countries, and eventually this led to his first startup software company. Every startup yielded additional skills and connections that allowed Ryan to build his next business.

One such startup was in the medical and dental space. Ryan began building his platform and started speaking at dental conferences about patient experience. It was there that he saw a common need for staffing. About a year and a half ago he started researching how to provide temporary team members for the medical industry. During the research he found that the industry size of medical staffers was 16 times the size of Uber and Lyft combined. Boon is the system that Ryan came up with, it provides innovation in healthcare that allows hospitals and health care providers to connect directly with practitioners that are open and available.


Not Taking No For An Answer


Ryan’s always had a driving passion to get things done. If Ryan wanted something, his parents rarely told him no but they also didn’t get him things very often as well. Ryan had to earn the money to get the things he wanted and his parents would help him out.

If more people interpreted “no” as “not yet” or do it yourself, more products would come to market.


Why did you get into software?


At the advent of web based software, Ryan found his passion for enabling people to solve their problems using technology. He wanted to be able to use platforms and apps to solve people’s problems.


Digitizing vs. Innovating


Ryan’s first start up was straddling the line between digitization and innovation. He learned it’s relatively easy to create a process or app that streamlines something, but now Ryan is trying to stay on the side of innovation. Digitization is relatively easy and valuable but innovation is transformative. The iPhone changed the cell phone industry completely.

Ebay is an example of digitization, it’s basically an online garage sale. Amazon is an example of innovation in that they enable everyone to be a retail owner. Boon is striving to be more like Amazon.

One in ten healthcare providers are temporary workers, and there are plenty of issues with the traditional model. It takes a long time, it costs a lot of money, people are not getting paid fairly or access to benefits, patient care with temporary workers is not always at the forefront, and the people are not always matched well. Boon addresses all those issues.


Where does someone get the capital to develop software and what was different about this idea that gave you the confidence to start looking?


Ryan has funded a business nearly every way it’s possible to do so and it’s probably the hardest part about building the business. The rejection rate is high and it’s hard to push through, but anyone is capable of raising money if they are willing to get rejected 99 times before they hear that yes.

Practicing good is part of Boon’s cultural DNA and equity crowdfunding aligns with that goal. Prior to the Jobs Act the average person had no opportunity to invest in startups, but now there are opportunities for people to invest in startups for as little as $100. Boon went with a company called Wefunder to bring people into an equal opportunity investment.

There is a lot of value of having potentially hundreds of investors in your company. They offer a number of different perspectives and connections that you wouldn’t otherwise have access to. In Ryan’s experience, the majority of investors aren’t interested in reaching out and it’s more passive for them.


Innovation in Healthcare


Boon is constantly working on new products and services to offer, and that includes looking at different industries and verticals. It’s not limiting itself to innovation in healthcare. A new chapter of Boon is taking what they’ve already accomplished and expand that to any industry that is willing to have it. 

There have been a lot of conversations around the nature of the employment. Boon is predicated on fair pay and access to benefits, they are one of the few gig economy platforms that does. 


Ryan’s Takeaway


Being a leader and an entrepreneur in the business space is extremely lonely. You have to make decisions the best you can, and not everybody is going to be a fan. You need to surround yourself with three people. A forerunner, someone who has been where you want to go and can help you avoid the same mistakes. A running mate, the person you can run with that will help you make leaps at the same time by holding your hand and jumping with you. And finally, people who are a few steps behind you. When you starting mentoring and sharing what you’re doing with people who are just behind you, you synthesize your knowledge in a different way and make your advice actionable. When you mentor someone you become more insightful into your own journey.




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Francis Greenburger on Risk, Real Estate, and Business

Oct 30, 2019 43:43


Francis Greenburger is the legendary real estate developer who is Chairman & CEO of Time Equities and owner of the literary agency Sanford J. Greenburger Associates, which has represented noted authors such as Dan Brown, James Patterson, Nicholas Sparks, and Nelson DeMille. He is the founder & chairman of Art Omi (previously Omi International Arts Center) and The Greenburger Center for Social and Criminal Justice, and the bestselling author of Risk Game: Self-Portrait of an Entrepreneur. 

Podcast Highlights


Who is Francis Greenburger? 


Francis Greenburger grew up in New York City where his parents were upper class but his father as a solopreneur never really made a significant amount of money. The first thing that Francis was blessed with was the confidence of his parents in his ability to achieve his goals. That went together with his natural knack for business. He started working for his father after school when he was 12 years old. His innate qualities gave him the early characteristics and motivations to be an entrepreneur.

One of the things that Francis has said is that if you don’t like risk, you shouldn’t be an entrepreneur. For Francis, risk is just part of the gig.


Do you see any parallels between cell phones and digital communication and the advent of television?


The evolution of digital communication has changed the nature of communication. It’s also made it more personal with social media and email, there is a lot of interpersonal communication happening now. Humans have a basic need to communicate and now there are more ways than ever.


Parental Confidence


There are certainly people who have parents who are not encouraging or present. Francis recalls a comment made during a tennis match, where two different players of equal skill are compared, and the observation was that the deciding factor will be self confidence. Having parents that believe in you alongside his mentors empowered Francis and gave him the confidence to face the challenges that all entrepreneurs have to face.

The buy in that someone gets from mentors they respect can be very empowering and confidence building, even when parents haven’t provided that.


What do you consider risky?


Francis uses the term “intelligent risk” to describe the process of evaluating risks. Intelligent risk is not a gamble, it’s a calculated and measured action with research and analysis behind it. Francis has a theory that if you’re going into a generic marketplace where you are just offering more of the same, it’s very hard as an entrepreneur to compete on price and that’s all you’re really left with. Look for markets that aren’t being addressed and try to find solutions to meet those unmet needs.

Imagine what you could accomplish if you weren’t afraid to fail.


What would you say are unaddressed needs in the real estate space?


Under occupied office buildings are one such issue. Sometimes an office maybe be under occupied because of a reputation problem from the past but it may have the features that allow you to lower your cost basis, which means you can also rent out the space for less. These can be the ingredients that allow you to be competitive in the market.


Why did you go into real estate?


Francis has a memory of walking down 5th Avenue in New York City and realized that he had an innate sense of architecture. He got into the real estate as a byproduct of his book business. Francis had rented an office that was too big for him and managed to sublet half of it at double the rent he was paying. 

Francis was involved in his father’s literary business at the same time as he was building his real estate business. For about 10 years Francis split his time between the two ventures. Francis typically works 12 to 13 hours a day which is his natural mode so that probably gave him an edge in business. For Francis, hard work is part of the formula for success.


Do individuals starting out in real estate have it easier today or harder?


Francis’s sense is that the business has become more complicated over time. You need to have a lot more expertise to make real estate work which is why it’s really a team sport. To do you it professionally you need to be part of a group that has that expertise.

If you’re young and you go to work for a real estate company that can help you out because in a way you inherit some of their credibility.


Is there something people should do differently if they are just starting out in their career?


If you really want to advance your career you have to spend time in a sophisticated real estate environment in order to learn the expertise that gets deployed on the complex problems in the business. Once you have that knowledge you’re much better equipped to go out on your own.

Francis’s company tries to be a platform for talented entrepreneurs to set up their own business.


How difficult was it to put all of your knowledge into Risk Game?


Initially Francis believed that he would have to write four different books. Lucky for him he met a talented writer that put everything together into a cohesive narrative and a solid book.

Enlisting talented help is a common thread in Francis’s businesses. Bringing in people with expertise and experience enrich the business because in combination we are stronger than on our own.


Have you ever had a partnership that failed and how did you deal with it?


When undertaking business ventures you’re always going to encounter a certain amount of failure but you can’t be discouraged by it. There are people and business partners who will disappoint you. In Francis’s case, he has benefited much more than he has been upset by such failures.

If you’re not failing in 10% to 20% of your ventures, you’re not taking enough risk. You have to be able to tolerate risk and accept failure, learn from it, and move on.

Reference: Risk Game: Self-Portrait of an Entrepreneur, Francis Greenburger


Francis’s Takeaway


Most people who are entrepreneurs have dreams of one sort or another. Think about your best idea and try to put it into action. When obstacles have to be overcome, devise strategies to overcome them. In real estate, look at a number of properties not just one. Buy it right, it’s the only chance you’ll get. There are always challenges but for every roadblock there is a strategy for success to get past it.


Risk Game: Self-Portrait of an Entrepreneur on Amazon


Omi International Arts Center

Greenburger Center for Criminal Justice

Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes and Stitcher Radio!

Self Directed Retirement Accounts with Rocket Dollar

Oct 28, 2019 44:14


Dan Kryzanowski is an active real estate investor and fundraiser, leveraging Self-Directed accounts - SDIRA and Solo 401(k) - to create a diversified real estate portfolio yielding double-digit returns. He specializes in self-storage investments, multi-family and hard money residential property loans. Dan has personally raised millions of dollars from family offices and individuals, and empowered his partners to raise seven-figures on multiple occasions. 

Dan serves as Executive Vice President at Rocket Dollar, unlocking the $10T pool of untapped retirement assets for the real estate community. He is also a Capital Partner for Pinnacle Storage Properties and Corporate Board President for Hugh O'Brian Youth Central Texas. Dan, a Wharton graduate, previously led commercial real estate initiatives for GE Capital in Mexico and South America. 

Podcast Highlights

Who is Dan Kryzanowski? 

Dan attributes his business success to his magic afro and his early basketball success. Dan had a very blessed life for his first 30 years, he followed what would be considered a pretty normal path that most people in his generation would follow, right up until the crash of 2008. That made him rethink things a bit and Dan found that he wasn’t particularly interested in working for General Electric for the next 30 years of his life. He and his wife moved back to Texas and started looking at alternative investment.

There were a few signs that GE wasn’t going to be a great place to spend the rest of his career at. Ultimately it was a personal decision to change the path from following everyone else and being led by fear or having the confidence to do things on his own.

Why Real Estate and self directed retirement accounts?

While working his traditional career Dan had always been interested in things he could do with his 401(k). When he had a fateful conversation with a guy that flipped houses at a wedding, Dan was exposed to the world of self directed retirement accounts.

Once he realized that there were a number of benefits using your retirement funds to invest in real estate, it all just made sense. Instead of making 2%-3% with a traditional bond or fund, he can earn double digit returns working with someone he trusts and can look at the real estate and see the asset. Using self directed retirement account was the key that unlocked everything.

The idea has been around since the 70’s. Self directed retirement accounts are where you take full control of where your retirement dollars go. There are an infinite number of investments you can access and there are no fees or early withdrawal penalties.

Rocket Dollar has completely eliminated the friction involved in using self directed retirement accounts to invest. Dan’s company is very focused on education and informing people the options that are available to them. You have full control of your money at all times for a low monthly fee.

If you’re self employed, you are eligible for the Solo 401(k). Not only can you contribute ten times as much as an IRA, you also get full checkbook control by default. 

What if my HR department said my 401(k) is already self directed?

By one definition your 401(k) at work is self directed, but it wouldn’t count as Self Directed. You get a handful of choices in what you invest in but you don’t have true freedom in where your money goes. You won’t be able to invest in a private real estate deal or something exotic like cryptocurrency. 

People want to be on the same footing from an education standpoint. They want to know what the rules and opportunities are, which is what Rocket Dollar is aiming to provide.

It’s been a rule of thumb that you can’t touch your company’s 401(k) until you are 59 and a half and sadly there isn’t a real responsibility on the company to offer all the options. Most middle age high earners have a few IRA’s or 401(k)’s from past employers hanging around, and once they are made aware of this they can roll that money into a self directed retirement account and put that money into real estate.

What are some of the creative places that people want to put their money?

Bars and restaurants are common passion projects for people to invest in. Dan has had some good experiences with female entrepreneurs doing some very interesting things in the market. Diversifying into different kinds of investments like cryptocurrency and self storage are becoming more common as well.

Rocket Dollar is not a match maker, they are a facilitator. They are focused on giving people the opportunity and knowledge to invest in a variety of things. Simplifying the transactions is in a lot of ways exactly what the marketplace needs.

Is there a specific focus at Rocket Dollar to help syndicators raise money?

Yes, Rocket Dollar will draw attention to possible investments like syndications in order to make it easier for people to raise the funds they need. They are very close to making it as easy as transferring funds quickly and easily using your mobile phone.

Dan’s Takeaway

Go to Rocketdollar.com/learn and start learning. Most people will be able to self educate and get 90% of the way there even if they are completely unfamiliar. Once you do that, reach out to the sales team and talk with us about how we can help. Self directed retirement accounts aren’t going anywhere and there are a lot of opportunities available for people who take action.




Get a $100 off your Rocket Dollar account with the code Cashflowdiary19

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October 2019 Q & A 8: Negotiations, Slow Seasons, and Protecting Yourself

Oct 25, 2019 01:25:36


Questions and Answers


I have a person that wants to book through February to November but I’ve already got someone with a reservation in the middle of that time. Do I offer the other guest to switch to another short term rental unit to accommodate the person who wants to stay longer?


This can be pretty common with new short term rental units or you are new to operating. When you put up a new listing it often gets promoted and for people looking for longer stays there often aren’t a lot of options. You should offer the current reservation the option to move to another short term rental unit, even if you don’t have another unit in that particular area. 

The ideal situation would be to get all the days booked with both individuals while also getting the money upfront. The revenue from the long term reservation can actually be used to acquire another unit for the shorter reservation if necessary. There are also a number of incentives you can offer to close the deal.


A major cancellation issue with AirBnB


J has had a similar situation occur with a guest that said they were going to cancel but didn’t. We continually sent the person messages as well as keeping in communication with AirBnB. In both cases we were paid in full for the days that were stuck in limbo but only because we were being hyper diligent about following up and making sure the reservation was actually cancelled.

If you’re at the 70 bedroom stage like this caller is in, you really shouldn’t be involved in this sort of issue. Your staff should be able to handle everything. Your business should also have an established system for making sure your guests actually arrive for their reservations.

For the caller, they need to have a customer experience manager that should be able to handle all aspects of this sort of issue. When you encounter something new, create an SOP (standard operating procedure).


My fear of not being sure of where to begin is holding me back. What should I start with first?


All of our short term rental  mastermind students get a six hour kickstart session with J specifically to address this problem. Outside of that, the very first question you have to answer is “Who do I want to serve?”. Once you answer that, you can figure everything else out.


What if I can’t find a management company for one condo that’s out of town?


Remote management is challenging. If you are going to do it remotely you must have a cash management system in place to make sure that no money gets released without a verification that the work has actually been done. Find someone who can be your eyes and ears on a job site.

If you can find an actual landlord in the area to assist you that has experience with rehabs that would be ideal. You can find them through the local real estate investors association or meetup.com.


If a guest leaves a review but you haven’t you reviewed them yet, can people still see it?


Nope, not until either you review them or 14 days pass.


Are the metrics you used in the SmartBnB training available to the public?


SmartBnB is great for their ability to see data and metrics and then use that to drive higher revenue. It’s not currently available to the public.


The slow season is coming, any updates on refreshing our short term rental listing to keep a higher viewing rate?


Depending on where you are geographically, the travel season is changing which means you need to adjust to the market. That may mean adjusting your discount curve. That doesn’t mean that you have to sacrifice profit, just that you need to think about new lines of revenue. Those are things that everyone should have in place in case of an occupancy challenge.


How do we suggest we deal with when a guest needs an insurance payment in order to make a booking?


Never let a guest into a unit prior to getting paid. The answer is to get paid upfront, the guest will figure out what they need to do to make that happen.


How often should I be checking pricing and how often should I be manually adjusting it?


In a 30 day market checking daily isn’t really necessary. It’s more about making sure you are priced appropriately from the beginning and understanding the platform you are on. 


Where can I find info on hiring VA’s, outsourcing, managing, and fee collection?


Even though the caller is already experienced, they should try to approach things as a beginner. You need to start with the foundation if you want to build a proper business. Even at short term rental 8 units they probably don’t need VA’s yet if they’ve set up the right systems in place.


What are some tips to make it through the upcoming slow season?


Assuming you’re in a somewhat temperate client, when it comes to slow season you need to understand that your expectation of where your revenue comes from needs to be adjusted. Go to the formula Leads x Customers x Margin x Frequency = Growth Potential, which of those can be improved upon? One of them will be a clue as to what you need to build to deal with the slow season.


Can you take advantage of cost segregation when doing night rental arbitration? Are there tax advantages to controlling a property versus owning it?


Much of the furnishing can become a direct write off. For some students when they are starting off, it makes more sense to lease the furniture and preserve their capital. One of the major downsides to the whole operation is it will create a large cash flow, and if you don’t offset that cashflow with some sort of investment you will just end up paying Uncle Sam.


What factors matter in the negotiation process for additional units?


It’s often that landlords that you’re working with will begin to approach you about additional units because you solve their vacancy problem. You need to be aware of the problems that you are taking off their table for them. If you want to eventually own the property, this is when you should start leveraging what you’re doing for them to set that in motion. 


Do I setup Lodgify or Wheelhouse so I can set up my own website for direct bookings?


We use Lodgify for just that.


What are the boundaries for the landlord showing up to the unit unannounced?


There should never be a situation where your landlord shows up to the unit unannounced outside of a fire or some other type of major issue.


Is okay to take a lease in your name and not your company name?


Doing business in your personal name is not something that I would recommend, especially when you’re working a public facing business because the liability is massive. You never know when something random happens and will put you on the hook. Even if you’re not guilty, you will still have to pay for the defence. Insurance is essentially prepaid legal defense.

You should protect the value that you are creating in the marketplace.




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October 2019 Q & A #7: Bed Bugs, Insurance, and Bad Reviews

Oct 23, 2019 01:09:59


Questions and Answers


How do I improve my rankings so that I can be viewed more frequently and more often? Also do you have any tips on attracting last minute guests? 


The first step is to run a Market report using SmartBnB on the caller’s location. Start making incremental changes to the pricing specifically for the available dates coming up in the future. The market report will reveal the low, high, median, and average prices for any comparable listings, you should be pricing your listing relative to the market for your available weekends.

You should also adjust for seasonality. The change from August to September can be quite drastic. Since the optimal booking window for the caller is 25 days, it may make sense to start experimenting with the discount curve beyond 14 days.

Being on page 11 of the rankings is basically the same as not being present at all. Look at your title and thumbnail as possible places to improve alongside pricing.


My closing was put off because of the hurricane, can I go ahead and list the property but not go live?


There is a window of time when your listing is considered new and it gets a boost in exposure and rankings. You should maximize the SEO bonus when it’s available. We also have a number of students that have optimized their locations as possible shelters from bad weather or natural disasters.

If you have a property in an area that is exposed to bad weather, a good tip is to have a generator so that your property doesn’t lose electricity when everything else does.


Any updates regarding automation getting agreements signed?


J had to put this project on the backburner due to some issues scaling out the customer service team. The goal is to have two way communication through as many channels as possible. Once we’ve worked through that we’ll be making more steps towards automation.


What do I do about bed bugs?


Ideally when you are building a business you want to build in systems so that your amount of time working in the business instead of on the business is as minimal as possible. Hopefully you never experience bed bugs but having systems in place will definitely help.

We have only seen one instance of bed bugs in all the history of tenants that have been our guests. It occurred in a two bedroom unit where the guest reported the bed bugs to us. We learned that you should hire the best pest control company you can right away, even if it’s delayed by a day or two. It’s better to resolve this properly, even if it costs you some revenue.

Before a unit is sprayed, cleaners should strip the beds, vacuum and clean the unit, and while doing it they should be wearing gloves and masks. We originally thought we would have to throw out all the linens in the unit, but that wasn’t necessary. Just bag the linens up and mark them as contaminated, the cleaners will wash them in extreme heat in order to eliminate the infestation.

Sadly there is no guaranteed fix for bed bugs. In order to get a heat treatment on the unit we had to hire a company that can drain the fire sprinkler system. The outlets should also be dusted in the adjacent units because bed bugs move quickly and get into the walls as well.

Another major lesson is to notify your insurance company immediately, and if possible you should be insured specifically in the event of bed bugs.

All told, this one problem took between 40 and 50 hours to resolve. There is a lot of coordination involved with a number of different people. Students now have access to the process we’ve put together to handle this situation.

If we include lost revenue, the total cost of the whole episode was around $15,000. Now that there is a process in place to handle things, the cost would probably be around $7,000 to $8,000. Even if you have insurance, this isn’t something that you’re going to be able to wait for them to pay for things. You will need the funds in place to take care of things in the meantime.


Did the insurance reimburse everything?


No, you will be reimbursed charges related to cleaning. One of the mistakes we made was not separating our linens, this meant that we had to pay for extra cleaning to make sure we didn’t contaminate other people’s linens. It’s also very possible that you would have to replace furniture as well, we got lucky in that case.


How do you recover from bad reviews because of an instance like bed bugs?


When you’re trying to recover from bad reviews, and there are a number of situations that can lead to one, one of the ways is to accelerate the frequency with which you can generate a review. The best way to do that is to reduce the maximum length of stay. This will generate a number of shorter stays and more frequent reviews, which will push down bad reviews on your listing.


Is there a way to create a market report on a listing that I don’t currently manage so that I can start to understand the owner might be having difficulty?


Most people in the short term rental space don’t actually have a grasp on what it takes to run the business well. Right now you don’t have to be good, you just have to be present. Over time, as this marketplace matures you’re going to have to be good and the ones that are will build the brand that they want to and get the kinds of customers they deserve.

If you want to be able to run a report on a property that you do not control or manage AirDNA is your best bet. You should be looking for trend data for the particular market you’re looking into and compare the listing to the surrounding area. If performance is poor on the property, it may be as simple as being on the wrong platform.






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October 2019 Q & A 6: Why Are My Short Term Rental Bookings Declining?

Oct 21, 2019 19:47


Questions and Answers


Our short term rental bookings have been plummeting recently and I’m not sure why. Am I discounting too early or too slow based on data? 


You have to decide how far out in advance you want to be comfortable with for your bookings. To really know what’s going on you need to get the right data in front of you. In the case of the caller’s short term rental unit, the average number of guests is 4.1 with a 7 day booking window. Since all the data came from the one platform, one solution may be to get on additional platforms that will increase the booking window.

If there is a conversion rate decline, the question becomes “what changed?”. If customer preference is what has changed, that may mean you have to adjust the way you are describing the rental and modify who you are trying to attract.

It’s important to look at last year’s data as well so you can compare. If your conversion rate is down to 56% from 70% in Q4, maybe that’s what you should expect based on historical data. If you have the same number of leads, it may be something to do with your listing, or your communication, or your response time that is affecting your conversions.


For a house, do you put a camera in the backyard?


When it comes down to an expectation that a space is going to be private you can run into issues. You can put a camera in the backyard but you should make sure it’s looking at the backyard and not into the house. If you do do it, make sure you disclose it to your short term rental tenants. 

If there’s a pool in the backyard, you have to be especially careful. You are probably concerned about the number of people coming into the unit at that point and if that’s the case there are other solutions to that problem. You could use devices that detect cell signals or wifi connections that would indicate the number of people present.



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October 2019 Q & A #5: How Long Does It Take To Get Started In Short Term Rentals

Oct 18, 2019 01:32:51


Questions and Answers


Does AirBnB work the same globally? 


The idea is the same, but some of the functions will be different. For example, payment systems will be different depending on the country you live in. Same with cleaning services. The basic idea of offering someone a place to stay in exchange for a fee is the same.


I have a landlord concerned with a privacy issue regarding a camera on the door, what should I do?


Since the unit already has cameras pointed at the hall in the building, there shouldn’t be any issues. The important legal idea is where there is an expectation of privacy you can’t place a camera, but that doesn’t apply in this case. You would just be adding what is essentially another security camera to a hall that already has them.

From a privacy standpoint, having a doorbell camera pointed at another unit’s door can be a problem since the camera could potentially see into the other unit when the door is open. This could lead to complaints from the other tenant which is why J tries to avoid those kinds of units. If you can control both sides of the hallway, that removes the issue so that’s a good strategy if you can swing it.


How long does it take to get started in short term rentals?


This is a hard question to answer because of all the variables involved. Some markets are more difficult than others, but in general for most people it won’t take too long to get started. Cashflow Diary students get a big advantage because they get the knowledge to select the best properties for their business, so they can earn the most money and continue growing.

Having had the privilege of teaching a variety of real estate strategies, short term rentals is the one that has allowed people to learn the most the fastest and get their business up in running very quickly.

It is possible to go from lease signing to operation in 72 hours if you have the systems in place.


Can you talk about your process for finding and training cleaners?


Finding the right cleaners is a big piece of the puzzle. Ideally you don’t go looking for cleaners, you make them find you. One way to find a cleaner is to make a reservation at a short term rental you don’t own, and when the check out happens just wait until the cleaner shows up. Another method is to join your local BNI, because that organization is referral based and a cleaner is likely to already be vetted by the person referring them. Chances are you will have to work with a few different cleaning companies before you find one you can rely on.


How do you recommend I leverage the leads I’m getting from a real estate broker with other local businesses?


It’s a great idea to try to leverage your existing leads with other local businesses, but it really depends on the size of your business. The simplest way is to just go into the store and tell them who you are and what you do.

If you can show them that you can help lower their customer acquisition cost, you’re set.


When is a good time to start a new unit?


It’s always a good time to start a new unit. When you start a unit into the low season you are building up a profile so that in the high season you will have enough reviews to maximize your profits in the high season. The flip side is that starting the unit in the high season your transition to the low season won’t be as low.

It’s more important to start a unit around the 22nd to the 25th of the month than the time of year. Keep in mind that certain holidays can actually make certain items harder to find when starting a new unit as well.


What is the best way to sync our calendar so we don’t have to manually block them out on different websites?


The systems you have to have on board changes as you grow. The reason you’re having trouble with Home Away is that you’re going from one unit to five. Ultimately you want to have Lodgify working to avoid manual bookings, but the big issue here is trying to get so many units going so quickly while also building the systems you need at the same time.


What are your thoughts about a unit I have in the mountains where there are definite slow seasons?


Don’t listen to someone who doesn’t have any experience with short term rentals tell you what’s going to work with short term rentals. You may not have to worry about the 30 day rental restriction in that area of Colorado. J recommends for the caller to narrow down her customers to three target markets, not just the obvious ones like ski enthusiasts.

There is a good chance she will be able to recoup her down season by expanding her target market and appealing to a broader swath of people.

Side note: It doesn’t matter how much you put on paper or how prepared you think you are, you aren’t. You have to get comfortable being uncomfortable and roll with the learning process. You will eventually develop a different response to the fear of action that will allow you to build the business you are dreaming of.


How soon should you start your own corporation? What about credit cards?


As a general rule of thumb, it’s a good idea to have your first unit in the name of some entity. Whatever that is, consult with your attorney.

If you have a credit card where you earn points, take advantage of it. Depending on the retailer it may make more sense to act as a consumer rather than a business.


I used to get a number of bookings from Booking.com but now I’m not getting any, is the drop in bookings unique to my area?


Before you blame a platform you need to compare your performance year over year. Remember the formula: Leads x Customers x Margin x Frequency = Growth Potential. You need to know that info in order to diagnose your issue. 


How often do you use air purifiers in your units?


We use them as frequently as our cleaning crew suggests it needs to be done.


What is the best way to market and position this home?


Answer the question of who you want to serve first. Once you answer that, the rest becomes clear. Before choosing a path, do your due diligence and understand your customer.


I have a studio on my primary residence that I’m thinking about turning into a short term rental, should I?


Being in Hawaii, someone is always going to want someplace to stay but when the unit is on your primary residence it is a completely different system. J always wants to avoid the situation where the tenant knows that he’s the landlord, and that’s pretty much impossible if the unit is on or in your primary residence.

Episode 120 of the Cashflow Diary podcast is a good resource if you do want to go this route. If you’re already comfortable with the situation then go for it.


Do you recommend operating across the border?


The biggest challenges working across the border are the legal system and language barriers. If you understand those then it shouldn’t be an issue.


How would you approach a private money lender when you are just starting up?


Refer to episode 548 of the Cashflow Diary podcast to learn about the Slicing Pie model of funding your business.


What are your thoughts on obtaining a real estate license?


You don’t need a license to operate a short term rental business. It depends on whether you are going to use the license to sell homes, if that’s what you want to do then sure.





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October 2019 Q & A #4: Short Term Rental Pricing and Becoming More Efficient

Oct 16, 2019 01:07:10


Questions and Answers


We currently use two different pricing platforms. If I’m using a tool like Price Labs, how do I set it up so the price is good for relocation companies and change it so I’m netting all that I can from the other booking websites? 


Since direct bookings to relocation companies yields the highest net profit, the ideal set up would be to have Price Labs reflect that in the Lowest price. You should also have an anchor for the Base price.

In general, because of the way things are set up and connected this way, price for your highest possible outcome. If someone books at that price, that’s great but that’s not the end goal. You want every customer to feel unique and special, and you accomplish this by giving them a personal discount code or adjusting your mark down so they see a price closer to the natural price. This way you will always be in a position to make the adjuster look good.


Is Hawaii completely out for nightly short term rentals?


No, we have active students in Hawaii right now who are doing quite well. If you desire to be an entrepreneur, you are making decisions where the outcomes are completely uncertain. The environment we all play in is uncertain and every business has regulations and changes, it’s unavoidable.

Some people will quit, some will keep going, and some will waffle back and forth and get bought out. At the end of the day, entrepreneurs adjust.


How do you price listings that require a minimum 30 day stay? What if there is a 15 day gap, do you keep a 3 month booking window?


Pricing is the most complicated aspect of a short term rental business. There are too many pieces to give a quick answer because you need to know all the variables first. The key is to always price it profitably, whatever that means for you. It comes down to a pricing strategy that accomplishes your goals and who you are trying to serve.


Do you have any tips or tricks to attract small apartment owners and property managers without actually driving around the neighborhood?


Loopnet.com is a good tool for researching an area. You can use the site to look for owners and operators that have the most listings and use that info to get on the phone and talk to them about the listings that are not yet on the site. Even if that particular realtor has nothing in their inventory that you want to purchase, they can help you get in touch with the top three property managers of that class of real estate. Once you get them on the phone, you do the same thing and find out if they have problems you can solve.


Have you ever marketed to landlords?


J avoids direct marketing at all costs. It has always proven to be too expensive and take too long, that doesn’t mean it doesn’t work, just that he doesn’t like it.


How has your faith affected your business outlook?


J’s faith has directly affected his business outlook, it’s a major reason he’s even in business. To whom much has been given, much is expected. If you’ve been given any talent, the expectation is that you will at least double it. It doesn’t matter that you succeed, just that you attempt it.


Can you offer daily/nightly rentals between monthly rentals?


If you’re in a 30 day market, probably not. However, if you’re not with someone other minimum day restriction there shouldn’t be any problem.


Small tasks can eat up all your time


Small tasks that don’t feel like they take up a lot of time can still add up when you are doing 15 of them every single day. It will also occupy your mental space. As an entrepreneur you have to understand what the highest and best use of your time. You have a responsibility to those you employ and serve, and you have to protect that opportunity. Often that means delegating.


Orlando short term rental regulations are very tight. Do you have any suggestions?


J has a very similar situation in Anaheim, the simplest solution is to just go to the city next door. It’s a bit further but as the situation continues that’s just where the marketplace is. In theory, you could also build an owner occupied business. Episode 320 of the Cashflow Diary Podcast is a good resource for that.


How do you handle fobs to enter gated communities?


Any time you have key fobs or gate remotes, you’re going to put those items inside the unit assuming that the answer to the following question is something that’s acceptable to you. When someone orders pizza, how does the order delivery person get to the front door? If they have a process for that, that’s what your guest is going to have to do the first time. Once that’s done, everything is inside the unit. The answer you don’t want to hear is that you have to go down to meet them.

In that case you have to get creative so guests can come get their keys.


I’m looking at acquiring my neighbors home for a short term rental but there is a 30 day minimum in the city I live in and I’m used to working nightly rates. Should I do this?


This is a completely different marketing system. I would stay close to what you’ve already built in the night rentals business because the amount of energy it’s going to take to build a brand new system to get the new unit going is probably too much, at least until your existing business is self sufficient. Double down on what you’ve already done.

If you want to keep it as a long term rental, that’s fine since it’s close to what you’re already working on and doesn’t require the same level of setup.


How do you feel about marketing towards stranded travelers?


If you can become the preferred vendor for the airline for people who are stranded, it can be a good idea. It might be pretty hit or miss though, since your units should probably be occupied in the times where someone stranded would need them.


Is there a way to intercept inquiries on AirBnB faster and answer them more effectively with SmartBnB?


Inside the messaging component of SmartBnB you can pre program answers to common questions and train it to recognize questions that it doesn’t already recognize. Chances are the questions you’ve received are fairly similar and can be pre programed to deal with any future inquiries.


Should I be out talking to everyone, even potential competitors?


There are so many people to serve, it’s tough for there to be any real competition. If anything realtors and property managers can be great lead sources, same with local government officials.


Do you suggest shipping container spaces for a short term rental business?


Shipping containers are a unique use case. They can be converted into qualified places to stay if you are the person that wants to serve the customer that wants that unique experience. The question is do you believe enough in the idea, then go for it and create that experience.


Would you suggest doing more one off AirBnB rentals?


It’s not about the real estate, it’s about the experience at the piece of real estate. If you want to do tree house experiences, go for it, but that’s not really the model we advocate.


How do I setup a corporate lease when my LLC is so new?


You’re starting with an incorrect assumption. What you don’t know can hurt you because it will cost you opportunities. Many students have gotten started without an LLC, there are other solutions so be careful of claiming you know something to be the case, it may just be holding you back.


What are some ways to generate more leads?


The fastest way to create more relationships is to leverage other people’s relationships that have already been created. Go join a BNI, talk to people at doctor’s offices, go to event planners and conferences.


How would you go about doing background checks?


I would want to know why they are asking about background checks. It’s usually about understanding your security procedures and the belief that you don’t do those things already. It’s your job to help them understand that and satisfy what they actually want.


Is there a way to automate changing a Friday booking to a one night stay if Saturday and Sunday are already booked?


If you have an orphan Friday, there is a setting within Price Labs that can be used for this case. Change the minimum stay for last night bookings to 1 and it should take care of it.




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October 2019 Q & A #3: Get More Faster

Oct 15, 2019 01:12:54


Questions and Answers


How many units do you have and how long have you been in the business? 


J currently has 37 units and has been in the process of getting to this point for nearly 15 years. He had to find a way to make money without trading time for dollars and real estate was the path he took.


How do I have my prices on Lodgify use AirBnB and Booking.com but ignore the prices on Home Away?


If you’re on the basic plan for Lodgify, it automatically ignores Home Away. J currently still uses the basic plan since the professional plan is still in beta. If you have multiple accounts, you will need to work directly with them to avoid certain errors.


How should we structure a deal for a 100 units if the other party wants to sell the property in five years?


It’s all down to the contract and how the services are signed for. To make things easier, use two separate entities, one for the property and one for the services involved.


How do we add a 0 to our income?


We will never out earn our personal growth. The image you have of yourself is part of the challenge. Part of the process in business is personal growth and consuming information with the intent of being a better person in all areas of life. Personal growth doesn’t just happen.

Any idea given to you has a certain level of value to you. What you need to do to make sure you becoming better over time is to not just collect ideas, but also implement them. The majority of us don’t realize what might be in the way that is holding us back from the results we want.

You have to set aside time dedicated to self improvement and find those blind spots. When you’re ready to take on that task, you will find the information that will move you further along the road. It’s not a three day process, it will take time to get there but it can be done.


Is the sofa bed you have in all your units custom made?


The sofa bed is custom made each and every time. One size does not fit all in our market.


A question about Ring camera and AutoLock


Anytime we talk about a system, it’s about efficiency and a single point of failure. You can save money buying an individual system, but you will pay with additional power requirements or lack of redundancies. Especially once you start to scale, this is why we’ve put together packages that help with that.


AirDNA gives my area a B+, does that rating bear any weight?


It all depends on how the data was collected, you won’t know for sure until after operating in that area for about 12 months. Scott and his team have a ton of work to improve the service, right now J puts more weight in their trend data instead of absolute numbers.


I want to run a short term rental business with my parents basement, should I speak to the HOA first or just do it?


We try to run everything above board and documented. Typically HOA’s are something we avoid but that doesn’t mean you can’t work with them. Get a copy of the CC&R’s so you can find out exactly what the HOA says about short term rentals. It can mean having to only run a 30 day minimum model or having a conversation with the HOA if you want to do something different. 

Make sure who you are looking to serve is in alignment with the property type you are looking to work with.


I’m not sure about money in my situation, what would you do to find financing and get started as quickly as possible?


Sometimes it’s what we assume and become confident of without ever having actually researched it that can sink us. Being income challenged or credit challenged is irrelevant. Your job is to understand the problem of the customer, in the case of the landlord they have a vacancy that they need to fill. Your solution is filling that vacancy. 

If you know how to solve the problem, that’s where you start the conversation. At this point, that's where the capacity question comes into play. Having cash in the bank or the ability to raise capital is the answer. 

Sometimes we just need some help to see our way around these roadblocks that we put in front of ourselves. That’s where personal growth comes in.


Is the time factor the only benefit between renting and owning in the short term rental business?


The biggest benefit is actually the experience component. By leasing a property and going through the short term rental model you can get the experience without pledging all your capital upfront. That can come in later stages of your business, and inevitably that’s when you will encounter different roadblocks to work through.

Many of us know exactly what to do, but we never do it. It’s not just about the knowledge, it’s about taking action.


Am I going to have payment problems if I connect to Lodgify and start doing all the payments through Stripe?


At this point J is trying to avoid being the one processing the payments for reservations and additional services. This configuration is basically what J is doing with his business to achieve that.


When you are presenting at a BNI with property managers in the room, what main points do you hit on?


Property managers get hit up for a number of things they don’t want to do. The easiest business you can ever get is to ask for the business that people are throwing away. Ask them if their owners ever ask about short term rentals. How they respond will give you an idea as to how to proceed. Highlight how you work with other people and solve their problems.


How do I secure financing if my business credit is developing slowly?


Within the mastermind program, there is a module that goes over the three different kinds of financial structures we recommend. Check it out.

Sharpen the saw. Have a plan to develop your personal growth. Don’t get stuck in information gathering mode, you have to go out there and apply. Understand how you learn and figure out where your roadblocks are and go find out what you need to get around them. You want more, so get out there and go get it. When we labor under correct knowledge, we can develop our own luck.



Cashflow Diary on Audible


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Short Term Rentals Business Q&A #2

Oct 11, 2019 01:09:42


Questions and Answers


What’s your system for rewarding or getting rid of cleaners that work for you? 


The best way to make this work is to make sure that everybody you work with understands the metrics that you are measuring performance by. You should know what your revenue was before you hire someone, and you should see a reflection of that person’s productivity in that after you hire them. You should have a minimum standard for review scores the you require your cleaners to maintain and then keep that number in front of them.


If the landlord feels the negotiation around the lease is too much work, is there a better way to go about it?


There isn’t much to deal with a lease other than the specific clause around being able to use the property as a short term rental. Other than that there is a clause around marketing and making sure the lease is in the company name. Those are the three main things that you need to address, other than that there shouldn’t be much you should have to fight for.

The more units and the more revenue you’re bringing to the table, the easier it is to have this type of conversation. Start using future language to help your side of the negotiations.

Failing fast and failing frequently is the secret to success in the short term rental business. You won’t be able to get the ball rolling if you are trying to get it right the first time and are unwilling to fail.


Do you find you have more success when you are having a conversation with someone in person or is more of a numbers game?


Being in person is a major advantage when you’re getting started because when you’re new, you have a lot working against you including the mainstream media. You have to overcome a bunch of assumptions which is a big challenge over the phone, which is why your only goal on the phone should be to secure a face to face appointment.


Can you talk about how many towels, sheets, and linens you put in your units for each stay?


There is a file in the program that breaks down what you need based on the number of beds and bathrooms. Basically you want to stock for maximum occupancy.


Can you speak to the Cashflow Game, where do you find it, host it, why do you consider it important?


The Cashflow Game was developed by Robert Kiyosaki and his wife but the best way to buy it now is through Amazon. Being an introvert, J had to figure out a way to increase his odds of attracting customers. The way to do that is to filter, and the kinds of people who are willing to show up and play a Cashflow Game are self selecting as people who are willing to take action.

He or she who educates their market, dominates their market.


Can you talk about obtaining guests that are looking for short term rentals due to being displaced and using insurance claim to fund the rental? Who do we need to build relationships and how do we meet them?


You tend to need a lot of inventory to meet these people. You won’t typically find them, they will find you, but once that happens, developing the relationship is crucial. When someone comes to you ask them who their adjuster is or if the adjuster is contacting you, get to know them and their company.


Do you have any ideas to generate more income from short term rentals I already have?


Have you automated offering your upcoming guests early arrival? You can also do that with late departures, extra cleaning, or an extra parking spot. There are a lot of little things you can offer to generate extra revenue.


What are your suggestions for offsite storage?


If your running a property with a large number of units, an offsite storage area is just how it has to be done. If it’s on a completely different property, then maybe your cleaners have a legitimate complaint.


Do you wash all the towels, including the ones that haven’t been used?


Yes, it’s more important to clean everything than to save the money. 


Is it true that certain services will turn on instant booking for all listings once they are connected through a property management software?


It depends on the connection type. If it uses iCal to schedule bookings, you will maintain control, but if it uses an API then it will be automatic.


How do I handle it when someone books for someone else?


When someone makes a reservation on behalf of another party, instead of referring them to the link we let them know that that’s not allowed and help them understand how to fix it. One way is to have the other person register. You will have to come up with a process that you’re satisfied with because there is no other way to make it work for business travellers.


Should I get an AC for a house in Vancouver, WA that doesn’t have one?


There should be inexpensive options that will allow you to install some sort of AC option in the unit. You should also help the landlord understand that by not having an AC in the property they will be at a major disadvantage. If they won’t spend the money on the AC, they will spend it on vacancy.


Is there any pros to using software instead of a direct booking site? 


Ultimately they are too expensive for what you get. Just because you’re not ready to use a direct booking site, that doesn’t mean you should start building your business on a faulty foundation.


Does the landlord have to obtain the permits? 


Read the ordinance and do what it says. You can’t reliably call the city and expect the person to know the answer. 


How do we get into the cleaning business for short term rentals? 


The easiest way would be to make a reservation at one of the busiest short term rentals in your area and then comment on their cleaning. Go wherever short term rental owners hang out. There are many ways to attract the right people to you but they are attracted to you you must also communicate what services you have to offer.


If a landlord had six stand alone houses and wanted to work with you, but they had an HOA that’s in charge of 80 houses in that area, would you still pursue those houses? 


You need to read the CC&R’s understand the rules. Do you want to operate the type of business that the rules allow for, if that’s true then go for it. As an entrepreneur, it’s up to you to decide who you want to serve.




Influence by Robert Chialdini


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October 2019 Q & A

Oct 4, 2019 49:17


Questions and Answers


We are making our first short term rental unit listing tomorrow, when should I set up Wheelhouse and AirBnB? 


That should be done now since that all happens at the same time. If you are ready to make your listing live go ahead and get that done now.


What is the best way to attract guests to stay one month or longer?


When it comes down to length of stay, being able to attract someone who wants to stay longer has a lot to do with what platform you’re on and your pricing strategy. Each site markets to its database differently and displays your listing differently. Booking.com is a discount marketplace, so your ranking depends on how much of a discount you’re giving. Craigslist is not recommended for this purpose.

The best way to get a 30 day reservation is to work with insurance companies. When a homeowner gets displaced during an insurance claim, it will often be for 30 days or longer.


Should tenants have list agreements signed?


There are times when a list agreement makes sense, for example a deal with a corporation. If you want to protect yourself from a tenant’s rights issue a listing agreement can be a good idea.


What is considered an automatic cancel with regards to someone’s reservation of a short term rental?


If someone causes a disturbance and then becomes belligerent, that creates a completely different issue and can be subject to cancellation without any sort of refund. Within the house rules list it outlines what the words “our discretion” means. Typically that means the process goes from warning, to fee, to cancellation, but there are some issues that warrant an immediate cancellation.


A question about using a four-plex as a short term rental


The more you can divide a piece of real estate, the higher your utilization rate becomes but it is a double edged sword. This kind of rental requires different levels of services and a much higher level of management. Pricing can also be pretty cutthroat and can make screening more difficult. You will also probably need someone on site 24/7 and there may be a separate license required.

Depending on the layout of the four-plex, it could be possible to get away with less management. Finding someone to actually manage a hostel style short term rental is another big challenge.


Should the damage waiver fee be the same when your in the 30 day market?


The damage fee should be increased to closer to $300. In a traditional market where you get $59 you would get in theory five or six reservations, so you should try to make up for the potential lost revenue.


Now that AirBnB is currently favoring businesses as hosts instead of individuals, should we rearrange our inventory?


J has started putting all the inventory onto a single host account for AirBnB.


When you have your team document resolution income claims do you find value in having the unit added to the spreadsheet?


Yes. If there are multiple claims from the same short term rental unit, that may indicate it’s priced incorrectly and attracting the right client.


Are there any corporate rental websites that work well?


Nothing yet.


We’re going from high to low season, what actions should I take moving forward?


The metrics you need to pay attention to within SmartBnB is early vs. late bookings. When you’re new, you don’t know what you don’t know about the seasonal patterns. What you’re trying to figure out is if the pattern is normal or if there is a seasonal adjustment to your pricing issue.

You can eventually tell with data that you will need to adjust something, probably your discount curve in order to maintain the same occupancies and revenue. This September will be that baseline for what to expect from here on out.


How important is it to have central air?


There is a big difference between having some AC and having no AC whatsoever. In a humid and hot environment, so long as you have some sort of air conditioning you shouldn’t have a problem. This is a review driven business and as soon as one person sweats all night you’re going to have a problem. If the unit has no AC at all, ask the landlord to put one in.


When people smoke inside, will the carbon monoxide detector go off?


Label your devices in each room of your short term rental unit. You will want to know if it was the detector in the bedroom or the kitchen. People are cooking in the kitchen you know.


Have you gone over what you will be doing with your listings in LA after November 1?


Not much is changing because we are constantly working on getting direct bookings and our networking is contributing to keeping the units filled.



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Wealth Without Wall Street

Oct 2, 2019 43:52


Joey Mure decided to join Russ Morgan and co-founded a company called Wealth Without Wall Street.  They teach people to stop trading time for money to achieve financial freedom by following the 5 Pillars of Wealth Without Wall Street.  

Russ, aka, The Idea Guy, started his career in the financial industry.  With 4 years of planning under his belt, Russ was stunned in September of 2008 to see the DOW Jones plummet 800 points.  He had no idea that the market could react in such a volatile manner and knew this was something he could never have control over.  Russ began a journey that day to passionately understand more about how to take back and gain control over his money, as well as his clients. 

Joey, aka, The Stallion started his career in the mortgage business in 2003.  He grew to become a branch manager with one of the Nation’s top mortgage lenders leading 25 loans officers. By 2010 he had achieved national recognition.  Despite earning an impressive income he still had significant questions about how to save for the future without having to borrow from banks. How does anyone save aggressively for retirement AND simultaneously pay for automobiles, save for college, weddings, and vacations?  

In 2010 Joey met Russ, who shared the Infinite Banking Concept and everything changed. IBC allowed Joey to get completely out of debt besides paying off his mortgage, he started saving four times the amount he had previously been saving, and now had a clear plan of how to save for all our life’s expenses without giving up retirement savings.

Podcast Highlights

Who is Russ Morgan and Joey Mure? 

When Russ was a kid, one of his favorite uncles used to give him green Tic Tacs, but he called them Hulk pills. Imagination has always been a part of his background, he was constantly envisioning things as they could be if they were bigger and better. The motivation to help out his family as well as other people has been a key driver in Russ’s personality.

For Joey, the Italian Stallion Rocky Balboa is his unconventional hero of choice. Rocky was the constant underdog taking on Goliath, and Joey always felt that way, especially about his education. His parents wanted him to get an education but they didn’t have the money to pay for school, so Joey had to make it happen on his own. They’ve given him the vision and he put in the work, became valedictorian of his high school, and secured a scholarship to university.

The vision of wealth in the future and being able to take care of his family is what drove Russ to get into the financial world. For Joey, having the end goal in place and then achieving it showed him what was possible. While in school he encountered a number of mentors that helped guide him towards the mortgage industry. While working in the mortgage business and generating a significant income, Joey realized that there was still something missing and it was around that time that he met Russ which changed the course of their lives.

Wealth Without Wall Street

Success leaves clues, as a financial advisor Russ saw what wealthy people did with their money and it wasn’t going into Wall Street. When the market crashed in 2008, nobody knew what was going and he realized that he couldn’t be a part of an industry that just pretended like they understood how wealth was built. The wisdom is in wealth, and the wealth isn’t on Wall Street.

Real estate, business ownership, and private lending were the main asset classes that Russ saw his clients using to build their wealth. 

There are five main pillars in the Wealth Without Wall Street plan. There first is about keeping more of the money you make, also known as cash flow. Where are you unnecessarily spending money that you don’t need to? That involves optimizing your tax strategies and paying down certain kinds of debt.

Invest in what you know, invest in yourself because that’s who you know the best. Investing in yourself is the best investment you can make.

Wall Street has confounded the process of investing by creating marketing fluff pieces to create the belief in people that they just don’t know enough to do it themselves. This is perhaps the biggest lie we’ve been fed and as a whole, the country buys into it.

The first step in working with a Wealth Without Wall Street client is understanding what they already know. At the end of the day we need to follow our own passions and gifts, once we understand what those are, we can start to invest in them.

The real problem that people want to solve is not about money, it’s freedom. This is why the idea of the qualified plan is terrible, you’re giving up control and visibility on your money in the hope that it will eventually solve your problem in the future. The traditional path of earning money will never help you get to true financial freedom.

Without cash flow and access to capital, the greatest investment could pass by right under your nose and you wouldn’t know it because you can’t act on it. Before you can invest you have to be in a cash position. Once you have that in place, you can invest in yourself and things you control, like your own business. Then you can move into assets like real estate or lending, and as a final step speculation which is ultimately the domain of Wall Street. 

Russ and Joey’s Takeaway

Go to community.wealthwithoutwallstreet.com and find people out there who are doing what you want to do. Your net worth is your network, and this can be your network.




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The Land Academy, Buying and Selling Land for Fun and Profit

Sep 30, 2019 58:47


Since 1999, professional real estate investors, Steven Jack Butala & Jill DeWit, built a $24m land resale empire completing close to 16,000 transactions without incurring any debt or leverage. In 2015, they co-founded Land Academy to share their experience and provide access to professional level tools for like-minded investors at all stages of their careers.  

To date, they have produced more than 1,000 podcast episodes and provided over 500 hours of live webinars all in the name of education through sharing their transaction experience. 

Podcast Highlights

Who is Jill DeWit and Steven Butala? 

If Steven had to choose a superhero to be like it would have to be Batman, being an entrepreneur is a lot like the way that Bruce Wayne took his circumstances and resources and found a way to use them for good. For Jill, she identifies with Wonder Woman and the way that she operates. Wonder Woman is forthright and truthful, and that’s how they run the Land Academy.

Steven graduated in 1989 and became a commercial real estate broker in one of the worst real estate environments possible. It took him several years to make it work but he learned a lot about real estate by working on some of the most complicated and difficult types of deals you can do. That lead him to look for a simpler way of doing a deal and towards a different kind of transaction.

Jill’s father raised her to believe that she could do anything that she wanted and to act like she knew what she was doing. She followed in his footsteps in many ways but was never very far from real estate. She worked with some developers in her early 20’s and when she eventually met Steven it all clicked together.

Steven’s Unique Abilities include the ability to analyze data and make connections that other people can’t see as well committing to a project and following up until it’s complete. For Jill, she can connect with people from all backgrounds and situations. This makes her very good at talking to sellers and developers and making everyone feel good about a deal. She’s never had trouble seeing anyone as another human that has similar hopes and dreams to herself.

Formal Education

Steven believes that some form of formal education is important but that doesn’t necessarily mean the traditional four year degree. Getting the experience in a professional environment is important to be able to make a go of it when you do decide to go out on your own.

Jill was raised to think about what she was going to do with her life and was encouraged to go for the big stuff.

Formal education does not prepare you in any way for the politics of an office. They prepare you academically for what’s possible but they don’t show you how to do anything. Formal education also doesn’t teach the skills of scrappiness, talking to people, and dreaming big. In many ways formal education places limits on people’s abilities to think about and achieve big goals.

In many ways a vocational education has more value in today’s marketplace than an education from a more well known and traditional institution.

Land Academy and Buying and Selling Land

Landing is one of the easiest product types in the real estate business. The majority of the time there is just a seller and a buyer, there is no appraiser, agent, lender, or inspector. With just those two people you can close a transaction very quickly.

There is always somebody out there that is interested in a piece of land that you wouldn’t be interested in at all. Jill and Steven’s business model is predicated on not improving property, they buy property and then immediately resell it to people who then go and sell it on terms. The secret is in the offer campaign that reliably generates consistent results.

The real key to successful direct mail campaigns is sending offers with a direct custom dollar amount instead of just a letter of interest.

Technically you can buy land anywhere. It’s all about pricing and predictable results so in many ways data is the most important aspect of the business. There are many ways to cash flow from land, you just have to be creative and look for the right opportunity.

Most people think about land backwards. They look at a piece of property and try to figure out how to make it fit instead of filtering their search for the land that fits the project.

What is the unique exit strategy that we’ve never heard of?

Jill and Steven have essentially built a list of consistent buyers that they can bring deals to. The typical deal for them involves buying the land, immediately reselling it at a very low wholesale amount, and then that customer resells it on terms and lets the note season then selling the note after six months or so. Building your own buyers list is crucial to success which is why it’s an integral part of the Land Academy educational platform.

Jill and Steven’s Takeaway

Trust the process, do the steps that Steven and Jill say, and watch what happens. You will see that it works and then want to do more. Steven wants you to go to landinvestors.com and ask the hard questions, then you’ll hear from people who will tell you how they did it themselves.



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The Power of the Deferred Sales Trust

Sep 27, 2019 01:07:18


Brett Swarts is the Founder of Capital Gains Tax Solutions. Each year, he equips hundreds of business professionals with the Deferred Sales Trust tool to help their high net worth clients solve capital gains tax deferral limitations. His experience includes numerous Deferred Sales Trusts, Delaware Statutory Trusts, 1031 exchanges and $85,000,000 in closed commercial real estate brokerage transactions. 

He’s an active commercial real estate broker and investor with brokerage experience and ownership in multifamily, senior housing, retail, medical offices, and mixed-use properties. He is a licensed California Real Estate Broker who holds series 22 and 63 licenses.


Podcast Highlights



Who is Brett Swarts? 


Brett is a Christian so he believes that each of us were given unique gifts to help others, and that shaped his world view when he was young. At the age of 12 he encountered several different mentors that helped him develop and realize that challenges are an opportunity to grow. In terms of superhero powers, Brett is a careful observer that can learn from the mistakes of others and see better ways to get things done.

In college, Brett was guided by one of his older cousins towards investing in commercial real estate which lead to him getting an interview with Marcus and Millichap. It was there that Brett learned that he loved the business and competition, and that the moment you learn more about someone’s business or piece of real estate than they know themselves is the moment you start adding value. Brett’s career started off rough but he kept persisting until he found the results he wanted. 


We are forged in the fire, all the difficulties and challenges that Brett worked through are how he developed the tools and skills he needed to succeed.



The Power of Persistence


When Brett was working on his business he didn’t take the negative opinions he often heard seriously. He had his wife supporting his vision and felt like he was on the right path. Persistence has always been part of Brett’s personality so without a challenge to keep him engaged he tends to get bored.

The strategy of the deferred sales trust is something that caught Brett’s eye that he saw as something that could serve people’s needs, so he invested a lot of time into understanding it. This turned into Brett becoming a trustee and educator who teaches financial advisors, brokers, and high end realtors on the strategy. 


Deferred Sales Trusts


You can defer your taxable gains on real estate by using the 1031 exchange as long as it’s done within a certain time period. The challenge is that if that’s the only tool in your toolbelt you may be put into a situation where you can’t make the best decision because of the 46 day window. It’s a seller’s market today, so if you sell today and buy 180 days later you are likely paying more with a higher interest rate for example.

Debt is not your friend in a highly appreciated, overpriced marketplace. The 1031 exchange requires you to buy something of equal or greater value, which means that you will have to take on that debt or more on the next deal. The intent is to take on smart debt when it makes sense, usually during a buyer’s market.

A deferred sales trust gives you multiple options for what you can do with your money. According to the American Banking Association about $17 trillion will pass from one generation to the next in the next 20 years, which is the largest wealth transfer in history. The older generation is struggling with how to sell their highly appreciated assets. 

The deferred sales trust can also be used to fund your future business ventures, up to 80% of the money can be utilized without paying taxes as long as the use is for a business or real estate.

As entrepreneurs, the value of the deferred sales trust is that you still have functional control of your money as well as how much you want to pay in tax, if ever. As long as you don’t dip into the principle in the trust the money is in a tax deferred state which gives you more purchasing power without having to take the hair cut.

The deferred sales trust is freeing up entrepreneurs to continue creating economic value without the losses and drag that comes with paying taxes.

The government has talked about taking away the 1031 exchange already, so there is a chance that it won’t be an option sometime in the future as they try to figure their way out of $22 trillion of debt. 

The fees are fairly simple, there is a one-time fee to set up the trust of 1.5% on the first million and 1.25% on everything above that. Brett, as the trustee charges 50 basis points once a year on the value of the assets within the trust. The last fee is for the financial advisor which is somewhere around 1%.

Brett’s educational platform trains business brokers, financial advisors, and other business professionals on the deferred sales trust which empowers them to earn more business. The deferred sales trust is a great way to separate yourself from the pack of other professionals by enabling you to save your clients the biggest expense they may ever have.


Brett’s Takeaway


Take massive amounts of action and focus on whatever it is that you are trying to achieve. If that means adding value with a deferred sales trust, connect with Brett. If you’re not getting the voices in your life that are speaking life into you find a mentor that will encourage you. 




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Sharon Lechter on Loss, Life, and Playing Big

Sep 25, 2019 45:58


Sharon Lechter is the former CEO of Rich Dad and Pay Your Family First. She is an entrepreneur, #1 New York Times and international bestselling author, philanthropist, international speaker, mentor, licensed CPA and a Chartered Global Management Accountant. 

Sharon Lechter is the co-author with Robert Kiyosaki of the international bestselling books Rich Dad, Poor Dad, co-author with President Donald Trump of Why We Want You to Be Rich: Two Men, One Message, co-author with Greg S. Reid of Three Feet from Gold: Turn Your Obstacles into Opportunities!, and author of Outwitting the Devil: The Secret to Freedom and Success and Think and Grow Rich for Women: Using Your Power to Create Success and Significance. She and Greg Reid just released the new book Success and Something Greater: Your Magic Key. She was a member of Presidents George W. Bush and Obama’s Advisory Council on Financial Literacy 

Podcast Highlights

What has been happening with Sharon Lechter over the last five years? 

Sharon has been through some pretty difficult times during the past five years, having lost her younger son. She ran her life in neutral for a while thought that if she wasn’t going to play big in her life she should probably retire. She got some push back from her family and made the decision to re-fire instead of retire. In changing her attitude from one of mourning to there being more for her to do amazing things started to happen. She found her passion for writing again and her latest book  in being released in a few weeks. She is now recommitted to living life to its fullest and giving people information to take control of their financial lives.

Living Life in Neutral

Comfort turns into complacency. So many of us in life are in neutral because we do the exact same things day after day. The only thing that changes us in a state of complacency is a crisis, and that puts our lives into chaos. The only way out of the chaos is to be creative again.

You’ve had your successes and your learning opportunities, there are other people who can benefit from what you know. The more you start giving the more you are going to start feeling alive again, supporting others will get you out of neutral and back into drive.

The importance of your environment and your associates are paramount. Are you putting yourself into your place of greatest potential? When you’re an entrepreneur, when you have the right people around you will keep your head above water when you feel like you’re sinking. Surround yourself with people that challenge you, that are strong where you are weak, so that you have the greatest opportunity.

Are you putting negative thoughts into your brain or empowering thoughts that help you see the world of possibility?

Have you added value to someone’s life today? Success is more than money, it’s also about contribution and impact. 

Refiring Your Life

It took a while for Sharon to come to terms with the loss of her son. It wasn’t until someone asked her if she realized how many people she could help if they knew that someone like her had gone through something like that.

A failure is an occurrence, not a definition. Too many people with a failure in their life feels like it defines them, and it doesn’t. You just have to pick yourself back up and redirect your energy.

Success is not a single pathway with a special one size fits all key, for Sharon success is about how you feel about yourself when you look in the mirror.

If you want to succeed, do the homework and look towards where you want to go.

How does experiencing failure events define your idea of success?

No one has ever had a straight line to success. Failure is a learning opportunity, a chance to recalibrate and refocus on the end goal. Maybe you need to adjust your end goal, maybe you need to change your market. The most successful businesses solve a problem or serve a need, if you remind yourself what problem you’re solving that takes the motivation outside of you and will give you the motivation to keep going.

Listen to your intuition, analyze your passion and talents, and then define your success and what you want out of life. Big hairy audacious goals can be intimidating without also setting milestones that allow you to celebrate the little wins along the way. Setting goals and then achieving them is how we build confidence.

Playing big is about realizing what you haven’t been doing that you can do to take your life/business/career to the next level. Bring an entrepreneur can be very lonely, so it’s important to surround yourself with people on the same path as you. The power of association is even more important than it was 20 years ago.

Playing Big

For most people, the “something greater” is what moves them and what they want to do outside of their business and life. Understand that you can make a difference in the world and the bigger the success you become the more positive impact you can make in the world.

Reference: Success and Something Greater: Your Magic Key, Sharon Lechter

Sharon’s Takeaway

Remind yourself that there is more for you to do and that that voice is not going to get in your way. Your magic will happen outside your comfort zone so push yourself to take that step and seek other opportunities.




Play Big Movement on Facebook

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Future Money Trends, Buying Cash Flow, and Financial Independence

Sep 23, 2019 51:57


Daniel Ameduri is a self-made multi-millionaire, a full-time skeptic of conventional thought, and a proud father of three. He is the cofounder of the Future Money Trends newsletter and FutureMoneyTrends.com, which, with nearly 150,000 subscribers, is the most widely recognized online authority in investment ideas and economic advice. 

He’s been featured in The Wall Street Journal, on ABC World News Tonight, and on Russia Today TV. Daniel correctly predicted the collapse of Lehman Brothers, AIG, and Washington Mutual on “Vision Victory,” the YouTube channel he launched in 2007 and which now has had more than thirteen million views. 

Podcast Highlights

Who is Daniel Ameduri? 

Daniel is a guy that has always been fascinated by money. As a kid Daniel thought of money as a video game and later on as an adult money meant freedom. We’re all told we’re born free but for that to be true you need to be financially independent. 

Right out of high school Daniel bought his first rental property but that was completely derailed in 2008, to the point where he gave up on his dream of becoming financially independent. Lucky for Daniel, his high school sweetheart kept encouraging him and pushing him toward what would eventually become Future Money Trends.

Daniel has a saying in his home office, “Everything in life is a gift, even the worse things have always lead to the best lessons in my life.” Without the 2008 crash Daniel may have been burned even worse later on but it was lucky that he was young and he had time to recover.

Have people missed their opportunity?

Even if someone has a small amount of money in their retirement account they could still take that money and put it into cash flowing investments. This is one of Daniel’s biggest frustrations, that people are living this dream of deferred life. If they just shift and start buying cash flow, they could be on the road to financial independence in 12 months.

What are the top 3 things that you have learned on your way to 7 figures that you would never have learned through formal education?

School never teaches us about personal finance. The top three things that education doesn’t teach people but should are about getting down to the basics. What are you going to do with the income you make? Most people have been conned into just buying things that will hopefully gain in value. Why not be relentless about buying things that bring in checks?

How are you going to maintain a sustainable life? It’s not about copying everyone else and never ending debt.

The third thing is how to actually buy an investment and how to analyze a good rate of return. We should be able to break down the numbers and figure out if an investment makes sense. This is something that is completely absent in formal education.

The Turning Point That Lead to Future Money Trends

In 2008 Daniel and his wife were in a bankruptcy attorney’s office. But they had one duplex left that they didn’t want to lose and that was the reason they didn’t actually declare bankruptcy, which ended up teaching them an invaluable lesson. They learned that cash flow trumps appreciation, even in the worst housing crash ever in the US, so from that day on they only bought things that made them money. 

The next step was to make sure they wouldn’t become poor. They cut spending and started building their financial moat. Over the course of two to three years, their cash flow was able to cover their expenses and that opened up new opportunities which lead to where Daniel and his family are today.

Buying Cash Flow

Daniel doesn’t just invest in real estate, there are plenty of options that can create cash flow. Dividend paying stocks and private equity being some good choices. Daniel tells people to focus on buying cash flow in something that you are familiar with and understand. 

If you don’t have the money to get started, chances are you are living a life that is perceived as normal but is costing you. In order to get started you are going to have to go against societal norms and have one to two years of sacrifice. Don’t finance a vehicle for 8 years that’s equal to your annual income. Don’t pay for an expensive rental, pay for a rental that is below what you can afford. The biggest expense is where you live, the fastest way to financial independence is to cut spending so that you can buy yourself some cash flow.

In the beginning it’s not about earning more money. You can’t just be looking at the numbers, your life is more than how much you earn at your job. Most people can be happy earning a lot less, but they need to ask what actually makes them happy. 

Start small without getting overwhelmed. Focus on how you can get cash flow in place that will cover your water bill or hydro bill without having to work for it. Once you start thinking about life that way you will start to see how much time something costs and what you should be doing instead.

When Daniel was getting started, his only target was to cover his utilities and grocery bills. They also started paying off debt. Even when Daniel had become financially independent he was still driving the same car when he started on his journey.

What are you doing intentionally to give your children a leg up?

Daniel includes his children in nearly every deal and aspect of their finance. He regularly reads Rich Dad, Poor Dad and has discussions about it with them. The most important thing you can teach your children is delayed gratification, don’t condition them to settle or just spend their money. Make investing habitual so it doesn’t feel like a sacrifice later.

Daniel’s Takeaway

Write down everything that you have, including assets and current income and current expenses. Get the last three months of your credit card bill and bank statements and see where your money is being spent. You will see areas where you can make immediate improvements so you can start purchasing cash flow. Think about the three things that you want people to say at your funeral because that is likely what your life’s purpose is, then write down what you need to be doing to achieve that and put it somewhere you have to look at everyday. 



Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes and Stitcher Radio!

Patrick Donohoe on Rethinking Retirement, Success, and the Meaning of Life

Sep 20, 2019 54:49


Patrick Donohoe is the author of the bestselling book Heads I Win, Tails You Lose: A Financial Strategy to Reignite the American Dream. He is also the Founder and CEO of Paradigm Life, one of the largest private and independent financial planning and advising firms in the country. Patrick and his team teach thousands how to build wealth, create lifetime cash flow, and leave a meaningful legacy. 

Patrick Donohoe was recently honored by Investopedia as one of the Nation’s Top 100 Most Influential Financial Advisors. He is a highly sought after presenter and speaker at financial-based events around the country and is the host of The Wealth Standard podcast. 


Podcast Highlights


Who is Patrick Donohoe? 


Patrick has always been driven to succeed, which has given him a lot of the things he has achieved in life but also made him extremely unhappy. He has a hunger to understand the way things are and no matter what the achievement or result he was looking towards, he knew that he could have it.

The way in which we look at the world today is shaped by our experiences when we’re younger. We link the things we all end up wanting with certain emotions, and for some people that can mean believing they are not worthy of their goals, or if they do achieve them they’re unhappy anyway.


What are the top seven things that your formal education never taught you on the way to seven figures?


Understand that you are your best asset. You have infinite potential. You have uniqueness that you need to discover and then invest in it and magnify it, that will allow you to apply it to the marketplace and add value to the world.

The school system and the workforce were originally created to train workers and the military, but that paradigm is being turned on its head. Just because you don’t do well in school, that doesn’t mean you’re not smart. You’ll make way more money if you focus on yourself instead of something external.

Nobody likes to be managed, everybody likes to be lead. Leadership is one of the hardest things to do but it’s one of the most fulfilling things you can do. Everybody has in them the ability to lead and if you adopt that in yourself it can be very powerful.

The deeper the emotional level your pain and sadness goes, the more you’re capable of experiencing the positive. You don’t know the light if you don’t know the dark. People’s tendencies to avoid fear and pain means that they restrict themselves from many of the possible positive experiences and lessons in life. The wider the spectrum of experiences you have had, the more meaning life will hold for you.

School is very focused on the individual and assumes you should have all the skills you need to succeed, but that’s not the way life works. You have to understand the value of teams and what can be accomplished. The things you are not good at are things you should hire other people to do for you, so you can focus on the things that you are good at. Teams with a good culture will look at unforeseen events and see them as opportunities instead of potential threats.

All investment is business, and all business is people. One of Patrick’s biggest failures in business is in not understanding other people and how they work together.


Patrick’s Mission


Our society has been programmed with what a successful career means, and what success in school means, and it’s completely unprincipled. Retirement is one of the worst ideas introduced into society. Retirement is anti-life and it kills people. The world needs people with experience and wisdom to keep adding their value, not to disappear at their prime. We want freedom and independence, not retirement.

There are three steps to achieving financial independence. The first step is establishing a foundation of certainty where you have enough money available that if you stopped working, you would have enough time to figure out what you wanted to do. The second is to educate yourself on the investments that you’re making and focus on one or two asset classes. The third is to invest in yourself first in order to find a career and calling that you can pursue for the rest of your life.

The sooner you realize that what you want to achieve is not retirement but freedom, the sooner you can reposition your assets and get started on the path.

The first step is a fundamental pillar of certainty which is why Patrick set up a specifically designed insurance policy to establish that foundation. 

Reference: Heads I Win, Tails You Lose: A Financial Strategy to Reignite the American Dream, Patrick Donohoe


Patrick’s Takeaway


Most people have too much information in their mind and if they want to learn something new they need to purge something else. The path that leads to a fulfilling life has examples everywhere if you know where to look. In order to capitalize on the time we have and spend time with the people we love, doing the things we love, we need to open our minds about what is possible.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes and Stitcher Radio!

Investing Overseas with Lief Simon

Sep 18, 2019 45:43


Lief Simon is co-founder and investment director of Live and Invest Overseas. He is the Editor of the Offshore Living Letter and Simon Letter. He has lived and worked on five continents and traveled to more than 60 countries. In his long career as a global property investor, Lief has also managed multi-million dollar portfolios of rental properties, for others and for himself. 


Podcast Highlights


Who is Lief Simon? 


Lief grew up in Phoenix and his goal in high school was to specifically go to graduate school and get an international management degree. He didn’t really know what that meant at the time, but the opportunities that came out of that degree were what opened the doors to him being able to move overseas for the first time 21 years ago.

Lief knew that he got bored easily, so a career in accounting or some sort of office wasn’t something that he was interested in, even at the age of 14. 


What lessons did you not learn during your formal education?


It’s easier to find real estate listings because of the internet, but if you’re looking at an English listing for a property in another country, you’re probably seeing the most overpriced property in that area. You have to be able to drill down to the local pricing if you want to start investing overseas.

The easier something is in looking for real estate, the higher the price. You pay a premium for convenience. Lief has no problem making an “offensive” offer because it means actually getting closer to the proper price.

Most Americans are willing to pay whatever the price on the price tag is, they don’t typically negotiate, but for other cultures that doesn’t hold true. In many cultures, negotiation is expected and with real estate there is almost always some room for  movement on price.

Another big lesson is that outside of the US, make sure you use a real estate attorney to help with your deals. In many countries there aren’t as many protections for buyers and there are rarely any safety nets so you will need some help investing overseas.


How has your relationship with fear changed?


Lief has always been a little more aggressive than most people, if he can live with the worst case scenario he will move forward. Many people aren’t comfortable with the worst case scenario, if they even consider it.


What did you gain from your formal education?


If you want to compare opportunities you have to find your Internal Rate of Return (IRR). If you’re a real estate investor your annual yield is your IRR, but with other types of investments like teak plantations that can be quite difficult because you can’t just compare the cash flows. Having a handle on certain accounting concepts has been an asset.

As Lief gets older he’s become less focused on capital appreciation and has started looking at agricultural opportunities. The timeline on those investments is much longer, but it gets away from some of the challenges of finding a good deal in real estate.


Investing Overseas 


If someone were to try to learn the process of investing overseas on their own, the first thing they should do is look for a real estate attorney and an english speaking real estate agent. A rental manager will also be important. The main thing to remember is that if you’re buying a rental property, make sure it’s one that will actually rent in the market you are buying it in. Ask the property manager what kinds of properties they work with if you need direction.

Sometimes learning things on your own is not worth the time and energy without having a guide to show you the shortcuts. Investing overseas is one of them.


Lief’s Takeaway


Pick a country where you think or know that you want to spend some time to look for potential real estate opportunities. If you like the idea of living in a particular country that’s a good place to start, rather than looking on the internet for the best marketing opportunities or yields available.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes and Stitcher Radio!

Find Your Second In Command With Cameron Herold

Sep 16, 2019 48:14


Cameron Herold is host of the Second in Command podcast and bestselling author of The Miracle Morning for Entrepreneurs: Elevate Your SELF to Elevate Your BUSINESS, Meetings Suck: Turning One of the Most Loathed Elements of Business into One of the Most Valuable, and the new books Free PR: How to Get Chased By The Press Without Hiring a PR Firm and Double Double: How to Double Your Revenue and Profit in 3 Years or Less (in its seventh printing). 

Herold is the founder of COO Alliance, which helps COO’s become better leaders. He is the mastermind behind hundreds of companies' exponential growth and has built a dynamic consultancy, including his time as COO of 1-800-GOT-JUNK?. His current clients include a 'Big 4' wireless carrier and a monarchy. 


Podcast Highlights


Who is Cameron Herold? 


Cameron’s first entrepreneurial memory was when he was seven years old. He was cold calling dry cleaners about how much they would pay for coat hangers. His parents raised Cameron and his siblings as entrepreneurs right from the beginning so there wasn’t really a time before then when he wasn’t doing his own thing.


Why Second in Command?


Cameron started off his entrepreneurial career with College Pro Painters within a franchise which super charged his growth as an entrepreneur. He went on to work in three other companies where he was second in command and helped those companies grow. All that prepared him to take 1-800-GOT-JUNK from 14 employees to 3100 employees and that’s where he found the match between the CEO and the COO.

A lot of the time the entrepreneurs that start a business have all the vision in the world but don’t have the skills they need to grow their business, so it makes sense to bring someone in who has those skills. 

The CEO in the early days of a business is the Chief Everything Officer, but that eventually evolves into the Chief Energizing Officer once the business gets going. When they transition in the later stage they can deliver on the why of the business but not necessarily the how, which is when the COO comes in.


When should a CEO bring on the COO?


You need to completely trust the person as your COO on day one. If you don’t have the trust level built up, you need to keep interviewing and doing reference checks until you can trust them with the keys to your house and password to your bank account.

Try not to get wrapped up in the title, the COO could also be the VP of Operations or General Manager. You can find multiple people to shore up your weaknesses, the point is to find someone with skill sets that you don’t have.

The entrepreneur needs to know what has to happen and the COO needs to know how it has to happen. They are the executors of the business and need to be given free reign to accomplish the entrepreneurs vision.


Playing out of position


The CEO and the COO work in tandem. Whatever the CEO is good at, that becomes their role in the business Whatever they are not good at, they should hire a COO to fulfill those roles. This means you can outsource the vision if that’s not your strength, as long as it facilitates your end goal of time, money, and freedom. 

When you delegate finance you must trust but verify. There are ways that companies can bring on interim financial officers if they can’t afford a full time CFO to manage the finance side.


Your Unique Ability


Dan Sullivan talks about the idea of Unique Abilities, it’s where you basically categorize everything you do in one of four ways: Incompetent, Competent, Excellent, and Unique Abililty. Incompetent is where you’re not good at something, Competent is where you can do something, Excellent is where you do something well but don’t necessarily enjoy it, and Unique Abilities are the things that you would do for free. The goal of the CEO is to delegate everything that isn’t one of your Unique Abilities.


How do you find a second in command?


The first step is crafting your vivid vision, where you describe your company in the future in such detail that somebody reading it will get excited about it. Once you’ve done that you create a job description that really polarizes people. Once you put that out you will start to find people who fit that mold.

A tell tale sign that a business needs a COO is the entrepreneur that keeps banging their head against a wall trying to make something work, but they just can’t see the shortcuts that will get them past the obstacle. When you’re ready to learn you have to surround yourself with people who know more than you, get into a mastermind, and find those shortcuts.

Reference: The Miracle Morning for Entrepreneurs: Elevate Your SELF to Elevate Your BUSINESS, Cameron Herold


Cameron’s Takeaway


You have to jump and bring with you three things, focus, faith, and effort. You have to stay focused with your time, energy, and marketing. You have to protect your confidence in yourself, your market, your team, and your learning. Work everyday to keep up your level of faith in yourself. Then you have to truly put in the effort, working for yourself is harder than having a job but you have to put in the work. If you do those three things you will be successful.



The Second In Command podcast

The Miracle Morning for Entrepreneurs: Elevate Your SELF to Elevate Your BUSINESS

Double Double: How to Double Your Revenue and Profit in 3 Years or Less 

Meetings Suck: Turning One of the Most Loathed Elements of Business into One of the Most Valuable

Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes and Stitcher Radio!

The Art of Being Productive

Sep 13, 2019 43:16


Nir Eyal writes, consults, and teaches about the intersection of psychology, technology, and business. The M.I.T. Technology Review dubbed Nir, “The Prophet of Habit-Forming Technology.” Nir founded two tech companies since 2003 and has taught at the Stanford Graduate School of Business and the Hasso Plattner Institute of Design at Stanford. 

He is the author of the bestselling book, Hooked: How to Build Habit-Forming Products and Indistractable: How to Control Your Attention and Choose Your Life.

In addition to blogging at NirAndFar.com, Nir’s writing has been featured in The Harvard Business Review, TechCrunch, and Psychology Today.


Podcast Highlights


Who is Nir Eyal? 


Nir describes himself as a chubby immigrant from Israel. He moved from Israel with his family when he was 3 years old and always had a bit of a weight problem, which was actually how he started exploring the idea of how certain products can get us hooked and change our behaviours.

A phrase that authors like to repeat is “research is mesearch”, which is exactly why Nir likes to write. He wrote his first book because he couldn’t find a satisfactory answer out in the wild around how to use technology to build healthy habits in user’s lives, so he wrote it himself. It was the same with his second book, we all know what we need to do so the question was why don’t we do those things? It’s certainly not a lack of knowledge.


Changing Behaviours


Unless we figure out why we are distracted on a psychological level, we will go back to our default behaviour and old habits. The opposite of distraction is not focus, it’s traction. Traction is any action that pulls you towards what you want and distraction is what pulls you away. 

The key is that it’s not the technology that’s the problem, it’s the idea that technology is the problem. As long as we have a scapegoat to blame the issue on, we don’t have to do anything ourselves.

Imagine how powerful you could become if you simple did everything you said you were going to do.


Becoming Indistractable


Most people will tell you that motivation is about the pursuit of pleasure and the avoidance of pain, but it’s not true. Neurologically speaking it’s pain all the way down. All products cater to uncomfortable sensations because wanting something is neurologically and fundamentally uncomfortable. This means that time management is also pain management.

We have to come to terms with the fact that our behaviour is driven by the desire to escape discomfort, and we only have two choices to deal with that. We can either learn techniques to cope with the discomfort, or fundamentally change the source of the discomfort.

There is nothing wrong with watching cat videos, it’s only when it distracts you from the things you value like being with your kids. Time you plan to waste is not wasted time.


Living Your Values


When it comes to external triggers, there is nothing inherently bad about them. It comes down to whether they are helping you gain traction or pulling you into distraction. By far the most distraction comes from internal triggers like boredom and fatigue.

You have to make time for traction, put time into your day when you live out your values. Two thirds of Americans don’t keep a calendar, and the other third doesn’t use it properly. To-do lists are only half the solution, the other half is actually putting those tasks into your calendar, and that includes things like Family Time.

If you can’t tell me what you got distracted from, you can’t complain about being distracted. You have to do something with intent before you can be distracted from it, otherwise you’re just drifting.

Technology and app developers are attention merchants, but it is possible to hack your attention so you don’t give it away for free. 

One of the most common distractions today doesn’t come from technology, it comes from colleagues, which is why every copy of Indistactable comes with a detachable sign to keep your colleagues from popping in uninvited. The cost to businesses of distractions in the workplace is gigantic.

A diversion of attention is perfectly acceptable because they are chosen by you, distractions are often confused with them but they are not chosen at all. If you didn’t plan on doing that thing with your time, that’s when it’s a distraction.

The antidote to compulsiveness is forethought. You have to take steps to prepare yourself and plan ahead so you can get the best of the tools available without letting them get the best of you.

Reference: Indistractable: How to Control Your Attention and Choose Your Life, Nir Eyal


Nir’s Takeaway


Reimagine your temperament. One of the pitfalls that many of us fall into is that think “we are who we are” but that’s just a story we tell ourselves. One of the best techniques you can use to change yourself and become indistractable is self-compassion. Talk to yourself the way you talk to a friend, with compassion and curiosity instead of contempt. You are more powerful than you think you are.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes and Stitcher Radio!

Innago Creator On Building A Software Company

Sep 11, 2019 40:05


Dave Spooner is a co-founder of Innago, a property management software designed to simplify life for small to mid-sized landlords. He has been involved in the real estate technology space for the last 5 years, working to enhance the way landlords and tenants communicate. In addition to his expertise in content marketing, Dave utilizes his experience with entrepreneurship and management to help landlords achieve sustained success.  


Podcast Highlights


Who is Dave Spooner? 


Before getting involved in entrepreneurship Dave was a History and English major in college. The process of putting together his thesis was his first encounter with entrepreneurship and where he got the bug of trying to build something yourself. No matter what industry you’re in being an entrepreneur takes a lot of work and effort, but once you have the bug you can’t turn away from the path.

Dave was actually surprised himself when he chose to be an entrepreneur, but there is a lot of overlap with people who are going through the process of education and looking for unique experiences and entrepreneurs.

Dave’s first venture was really the piece of scholarship he was putting together for his thesis. It involved applying for grants and research, as well as negotiating. 


Creating a Software Business


Creating software is a difficult proposition, even when it goes to market you will have to constantly modify and fix it. Even features that are specifically asked for will end up being the wrong things to include and need to be scrapped or fixed. One of the keys to Dave’s success with Innago is listening to not just his customers and what they want, but also the customers who said no.

The beauty of software development is that it is constantly changing and for Dave that means he gets to take on different challenges everyday. There is always something new to learn which is something that Dave really enjoys.

Similar to Google, the origin of the name Innago was designed to create a sense of simplification and ease. 


Why should a landlord choose Innago?


The ease of use is the main feature of Innago. There are other options available but they are extremely complicated and difficult to use. For one of Innago’s major competitors they actually have people on LinkedIn who claim to be experts in the software, and for Dave that is exactly what he wants to avoid. 

Once they started building out the platform Dave realized that the other major barrier to entry was cost, so they decided to make Innago free to use. The only costs involved are paid for by the applicant/tenant. When a potential tenant applies they have to pay for a background check, and the second way Innago makes money is by taking a small percentage of the rental transaction. 

What Innago is meant to do is to automate the things that are basically data collection and other tasks that you as the business owner aren’t required to be involved in. It puts everything in one simple, easy to access place so that you can make better decisions about your business.

One of the biggest challenges that landlords face is that real estate laws are different in each state and within each sector each landlord does things differently. Flexibility was another major focus in designing the software so that it could serve other sectors like short term rentals that are underserved.


Building Your Software Company


The main benefit to entrepreneurs is that we are blissfully ignorant of exactly how much work is involved in building a business and getting a product to market. For a software business, it is completely crucial to have someone on the team that has the technical skills to create the product, it’s not something you can outsource. 


Dave’s Takeaway


As you’re preparing to take on the challenge, make sure you’re doing it in a way that allows you to learn and grow, because not every venture will succeed. That doesn’t mean you shouldn’t do it, just that you should improve while you’re at and can do better next time. Make sure you are constantly learning everyday, that way you are getting enough value to make sure the venture is successful either way.







Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes and Stitcher Radio!

The Slicing Pie Model of Funding Your Company

Sep 9, 2019 56:33


Mike Moyer is the author of the bestselling books Slicing Pie: Fund Your Company Without Funds, and the new book Bird's Eye Business: A Primer on How Companies Work. He is an Adjunct Professor of Entrepreneurship at Northwestern University and the University of Chicago Booth School of Business. 

Moyer is an entrepreneur who has started a number of companies including Bananagraphics, a product development and merchandising company, Moondog, an outdoor clothing manufacturing company; Vicarious Communication, Inc, a marketing technology company for the medical industry; Cappex.com, a site that helps students find the right college; College Peas, LLC which provides publications and consulting on college admissions; and Trade Show Samurai, LLC a company that teaches trade show exhibitors how to capture lots and lots of leads. 

In addition to his experience as an entrepreneur he has held a number of senior-level marketing positions with companies that sell everything from vacuum cleaners to financial data services to motor home chassis to luxury wine. He has taught entrepreneurship at both Northwestern University and the University of Chicago.  


Podcast Highlights


Who is Mike Moyer? 


Mike got the entrepreneurship bug in high school, he wanted to be a veterinarian and was keeping and healing animals in his backyard. One day he found himself as the owner of 24 baby rabbits and had to do something with them, so he took them down to the state fair. His aunt suggested that he sell them for $25 each and he sold them all in a matter of hours. That put him on the path to starting his own clothing manufacturing company in college and a number of other companies since then.

Mike pivoted from the veterinarian career path due to poor grades and his parents subsequently refusing to pay for his schooling. Instead of finding a job Mike started a clothing company to pay for his education and he ended up selling the business after he graduated. 

Mike values both education and practical experience. Education saves you a lot of time doing your own work and Mike spent much of his time split between startup companies and established companies. A combination of all three has been very useful in building Mike’s later businesses.


Real Jobs, Real Companies, and Startups 


At a real job you’re getting paid for your work and that’s pretty much it. With a startup you are basically betting on the future of the company, and until that company starts generating revenue and profit it doesn’t qualify as an asset.

With a bootstrap company the way you get started in the early days is by not paying the bills. What this means is that for an employee who would normally be paid $100,000 a year they are basically betting that salary on the success of the company. For those employees, their share of the equity in the company should be proportional to the size of their bet, the challenge is that it's very hard to know the value of the entrepreneur’s idea.

In the grand scheme of things, a person capable of execution is comparatively rare to the accessibility of capital in the beginning stages of a business. 

An idea is simply an intention to do something. Without the actual value created through production, the intention isn’t worth anything. 


Slicing Pie And Your Business


People are much more accustomed to negotiating fair market value rather than future value. When it comes to equity, it can’t be determined accurately until the company is either funded through Series A investing or it reaches the breakeven point. Mike has created a framework named Slicing Pie that businesses can use to figure out the fair valuation and equity share of all partners.

Slicing Pie uses a tool called a Slice that essentially marks the fact that a bet has  taken place. When someone is just contributing capital to a company the framework accounts for the after tax and scarcity of the cash by giving the person four Slices for every dollar contributed. The point is to provide the right incentives and alignment for everyone participating. By allocating Slices over time you can prevent everyone’s risk from becoming unbalanced.

Slices are like poker chips, all they do is keep track of the bets. They help determine ownership until there is either valuation or cash flow. 


Slicing Short Term Rentals


Slicing Pie is a financing tool for short term liabilities. In that scenario the unknown variable is the ability of the operator to make the venture work. With short term rentals the operator should be assigned a salary, so if the business breaks even after 60 days and starts being cash positive, the balance of Slices will be pretty lopsided towards the person who contributed the capital. 

In real estate, since we’re dealing with relatively known entities it usually makes more sense to use debt financing as opposed to equity. When you do equity financing, the cash is what matters.

Slicing Pie can also apply to other expenses that you can’t pay, like a lawyer’s fee. You can take that fee and assign it a Slice value that gives the person a share of equity. The beauty of the Slicing Pie model is that it’s a universal one size fits all model for the allocation or recovery of equity.


How do you determine the value of the entrepreneur’s time?


The way you pay someone in the real world is the same way you would pay them with Slicing Pie. Once you start paying the operator a salary, the remaining is profit and would be reinvested into the business or paid out as a dividend to the shareholders according to the Slices allocated. With Slicing Pie, the investors shouldn’t be upset that they’re getting diluted down because the value of their bet is still represented properly.

Once you’re faced with fairness, the only thing you have operating for yourself is your willingness to be a jerk.

The origin of the Slicing Pie model came from personal experiences on both ends of a deal for Mike. Traditional equity splits fail at a rate of 60-80%, which means your odds are pretty high that you will end up fighting with your co-founders.

You should always be projecting forward into time with your business but that is still just a variable until it’s real. Until the day you can pay everyone in the business, the bets keep happening. 

There are three reasons someone won’t use Slicing Pie: they don’t get it, they aren’t willing to learn it, and the third reason is they do get it but they still want to take advantage of you. In the third case, if your deal is good you should walk away because you will find another investor that’s interested. Sometimes walking away is your best option.

Reference: Bird's Eye Business: A Primer on How Companies Work, Mike Moyer


Mike’s Takeaway


The first thing is to figure out is if you’re getting what you deserve to get. If not, you’re taking an unnecessary risk to benefit somebody else. It’s easy to figure out if you’re getting screwed or not by adding up the contributions, and that will teach you if you should keep going with that company. Make sure the job you’re in is compensating you what you should be compensated, if not you should find something else. 




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes and Stitcher Radio!

Credit Unions Are The Solution You Didn’t Know You Needed

Sep 6, 2019 43:27


Mark Ritter is the CEO of MBFS and an expert in credit unions and business lending. His primary role at MBFS is overseeing the strategy of helping credit unions assist members with business needs and consulting with credit unions on planning the delivery of services to their membership. 

In 2002, Mark started Members 1 st Federal Credit Union's business lending program as "one person and a desk" with no policies, products, staff, systems, or business members. That program grew to be one of the top ten in the nation in the number of loans and balances outstanding for federal credit unions. In addition, Mark developed a participation program that grew to one of the top buyers and sellers of credit union business loans in the eastern United States. He has done extensive work with branch retail staff, business lending operational and sales staff, and credit unions to educate and train them on the merits of business lending.  


Podcast Highlights


Who is Mark Ritter? 


Mark always tells people that he is a blue collar guy in a white collar world. He grew up in a town called Burwick in Pennsylvania and despite being a marginal football player he found himself with the opportunity to work for the Penn State football team. Without that chance he would probably still be working in that small town. In many ways he can attribute that one thing to getting him to where he is today.


Mark remembers his father talking about their credit union fondly and that has always stuck with him. Once he got older and looking for new areas to work in he thought again of the credit union space. In terms of superheros, Mark considers himself like Aquaman. Aquaman has a number of non obvious superpowers but they are quite useful when you need them. 


How are credit unions different?


When you walk into a credit union you’ll see a lot of the same features that you would at a bank. The difference is in the underlying structure, credit unions are a cooperative business that focuses on building relationships and doing what’s right for people. The shareholders and stakeholders of a credit union are the members of that union, and in some ways they are similar to mutual insurance companies.

Credit unions were originally created for businesses, and since then there has been a revolution in what credit unions were capable of that has lead to them really taking off. 

Credit unions can be friendlier when it comes to fees, and terms and conditions on the financing they offer because they are considering what is best for the membership of the union instead of just the shareholders.

One out of every three people have an account with a credit union. They are generally smaller institutions when compared to banks but even then they are still managing many millions of dollars. There are twice as many credit unions in America as there are banks, but getting the word out is one of the main challenges.

Most people want a relationship with their financial institution and with credit unions that’s possible. The numbers are the same for everybody, where credit unions excel is in the qualitative analysis of a loan and taking the story into account.


Where do credit unions operate?


Most credit unions prefer to lend within their region but there are some that will consider a wider area. If a customer comes to Mark with a need for financing in another area, they would recommend another credit union to work with that’s closer to home.

Everything that a credit union does in internal to their own portfolio. They lend against their own money but they also love to work cooperatively with other credit unions. For larger loans, there could be multiple credit unions participating in the loan without the borrower even realizing.

Credit unions are insured the same way that banks are insured, so there is pretty much no downside to working with a credit union instead of a bank.


Why did you go from football to credit unions?


The community bank of the local area is going away and the trend is towards super sized corporate banks. Mark looked at the credit unions as a career path because their value systems were the same as his.


Credit Unions and Real Estate


Credit unions operate in many different markets at every different price point. They work with individual investors, sophisticated investors, and major developers. When credit unions first began they were limited to their lending limits to 12.5% of the portfolio, but legislation recently passed made it so that small 1 to 4 unit properties don’t count against that limit. That has really opened up the possibilities for real estate investors to work with credit unions.

Since they take into account the borrower’s history and experience into the loan, credit unions may be a good lending partner for the more difficult short term rental market. They also take into account the income value of the property instead of just the appraised value. Residential rental lending is nearly a third of Mark’s company’s business.

Most of the lending that a credit union does is recourse lending that requires a personal guarantee, but they do some non recourse lending for bigger investors.


Mark’s Takeaway


Follow your dreams. Don’t do it for the money. Do it to fulfill your life goal instead. A business is a great way to build and take control of your own destiny. If you’re one of the two thirds of the country who aren’t members of a credit union, they may be the kind of financial institution that you have been looking for.




Member Business Financial Services on LinkedIn

Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes and Stitcher Radio!

Tower Capital and Financing The Real Estate Business

Sep 4, 2019 49:16


Adam is the Founding Partner and Principal at Tower Capital, a Phoenix-based Commercial Real Estate Finance firm. Since 2015, the firm has been involved in over $500 million in successful debt and equity placements on behalf of investors across all major asset classes. 

Adam is an active member of Forbes Real Estate Council and has been featured and published in numerous national and industry publications including Forbes, Globestreet.com, National Real Estate Investor, Phoenix Business Journal, Commercial Executive Magazine, Multi-Housing News, and many others.


Podcast Highlights


Who is Adam Finkel? 


Adam is a regular guy from Boston, Massachusetts. When he turned 18 he headed out west and went to school at Arizona State University. It was there where he found an opportunity to get his foot in the door of doing commercial real estate from some of the older members of his fraternity. Prior to that Adam didn’t have any experience in the industry, he just saw the opportunity that was available and went for it.

Doing the transactional deals and putting in the work gave Adam a good understanding of what tenants and landlords need, and that served him well once he moved onto the finance side of the business.

Investing in real estate doesn’t need a college degree, anyone can do it, which is the great thing about. Adam recommends that people start small since it’s more attainable and makes financing larger deals much easier. The first question Adam gets asked is “who is the sponsor?” because that’s even more important about the details of the deal itself.


Getting Started In Real Estate


Many people get their feet wet in the real estate business by buying single family homes. That’s where Adam tells people to get started in real estate. From there it’s possible and easier to move onto multi family homes, apartments, or commercial real estate.

For some people, they have to learn from personal experience and make those mistakes. For those people they usually find that it can be very challenging trying to buy a larger building and they end up starting off small anyway.

When Adam was getting into the real estate business in 2003 the market was picking back up again and there was a lot of activity in his local market. He believed that there was no better way to build wealth than real estate so it seemed like the perfect opportunity.

Adam loves working with people and finds the capital markets very exciting. There are so many facets to commercial and traditional real estate so there is tremendous potential for people to tap into. With most things in life, it takes exposure to many different things to find out what you like and don’t like. If an opportunity comes along you should try it out and see where it leads you.


Tower Capital and The Finance Side of the Business


Adam wasn’t particularly interested in getting into the financial side of things. After working for a few years he began to get tired of the tenant rep leasing side of the business. He met a man named Neil Churney who invited him to work with Johnson Capital as an analyst helping Neil with the finance side. 

Johnson Capital was acquired in 2014 which was the perfect opportunity for Adam to start his own business with a long time friend. They started Tower Capital and has since built a business with 8 employees and will finance between $300 and $400 million dollars worth of deals this year.

Tower Capital isn’t focused on one particular asset type. The typical loans are a million dollars and up. They have a very collaborative approach and all of their capital advisors have unique experience that they bring to the table.


Short Term Rentals


The short term rental space is still a difficult space to get financing because it doesn’t fit into the established boxes. With an apartment building there is more stability and with hotels there are other criteria they take into account. Over time we are going to see more programs available for short term rentals but right now it’s still a challenge for most lenders and borrowers.

Short term rentals can definitely be more lucrative than the traditional rental model, it’s just going to take time for investors to wrap their heads around it.


Finding The Right People To Work With


Tower Capital focuses on getting an understanding of what the borrower’s needs are and matching them together with the right capital source. Family offices tend to be more long term and conservative investors whereas the debt funds are the ones providing much of the bridge money. They are very concerned with the exit strategy which can create another hurdle for people with their deals. 

A lot of lenders have capital sitting on the sidelines that they need to deploy but strict underwriting parameters are still preventing them from doing so. For the right deals lenders are having bidding wars on who gets to lend so for the right deal and the right borrower it can be a very advantageous time.

The capital markets are very complex with a lot of forces at work that can be difficult to wrap your head around. Interest rates definitely have an impact on the business but they are not the only factor. When interest rates stay low that means borrowers can access bigger loans, but when they go up there is a lot of downward pressure on property values. 

Everyone is very cognizant of where the market is in the cycle. There is a lot of caution around deploying capital to deals where the borrower is overpaying for property just because the rates are low, but at the same time they have money they need to loan out. The thing that people need to focus on is coming up with a good plan and underwriting with a cushion on the rate.

When a lender is underwriting a deal they are looking for a 1.25 debt servicing ratio. As long as the US economy is still strong lender will continue to look for the right deals.

Any dramatic increase in interest rates are likely to greatly reduce the transactional velocity in the market right now. 


Adam’s Takeaway


Get your personal financial statement and schedule of real estate buttoned up. Be cognizant of what the lender’s underwriting parameters are, when buying a commercial real estate property they typically want to see a net worth equal to the loan amount and cash in the bank equal to 10% of the loan amount. If you don’t have those in place you’re going to need to find someone with the right balance sheet to help you get the financing you need.




Give Adam a call 480-426-0576

Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes and Stitcher Radio!

EverybodyFights and the Quest to Make Fitness Free

Sep 2, 2019 49:56


George "Monk" Foreman III is an entrepreneur, professional boxer, trainer/coach, founder of EverybodyFights, and son of businessman and former two-time heavyweight champion George Foreman. He serves as the business manager and Executive VP of his father's business empire George Foreman Enterprises, Inc. He also starred on the E! network's reality series Filthy Rich: Cattle Drive. 

He opened a boxing fitness gym in Boston called "The Club by George Foreman III". In an effort to further promote the core beliefs of the gym's culture George eventually changed the name of the gym to EverybodyFights. In 2016, the company received a series-A investment from Breakaway in the form of $4 million and soon after announced the opening of another location in Boston. Since then, Everybody Fights has opened 5 locations and plans to open over 20 new locations by 2020 for growth in other major cities across the U.S.  


Podcast Highlights


Who is George Foreman III? 


George describes himself as a really sad and quiet child. He cried when he got his first B in school and he didn’t see his next one until he was 17 years old. To George, the real risk is life passing you by and never coming back. If you have the chance to look back at your life in your last moments, the real risk is regrets. As part of George’s boxing career, he had an agreement with his father where his dad would train him, but at the same time George had to train other people as well.

After finding some success in his boxing career, George realized that if he could make a reasonable living doing what he wanted to do, which was to teach and instill fitness in others, than that would be a success as well. 




When George decided to open his gym he put his business plan together in seven days and it was during a brainstorming session with his friend where the EverybodyFights name came from. As soon as he heard it he knew he had a winner, but it actually held him back initially. When trying to lease a space George had to adjust the name to The Club by George Foreman III.

It wasn’t until a few years later and the business had found its footing that he decided to change the name back to EverybodyFights because it fit his core message better.

Brand is what you make of it. If you execute and your company culture is on point, your message is clear and consistent, and you act with integrity you can make a big brand out of any name.


Another Fitness Club?


At the time there weren’t a huge number of boxing clubs around so the market wasn’t too saturated. As part of his strategy with investors George took a large pay cut to prove his confidence and dedication to the business. Once he had the money in place, he also had to prove the concept to the community and that involved a lot of meetings with the city.

When you sign the right deals and have a business with a decent profit margin, you can take some chances and experiment with things. When George opened his first gym he had boxing and yoga under one roof, in addition to pilates and cycling. He also taught a number of classes and within a year his gym became the best gym in Boston.

George’s ultimate goal is to make fitness free. He would like to create a way where other companies like Nike and Adidas or the local government sponsor the facilities and he can offer fitness to people for free. He wants to figure out a way he can provide people with a premium experience while bringing fitness to everyone he can.


Why should fitness be free?


We have a mental health issue in our country and it’s hurting our budget for healthcare, our families, and it leads to violence. We can tackle this problem, we just need the motivation to do so and one of the key ways to improve mental health is to improve physical health. By making fitness free and accessible it would have a dramatic effect on people’s lives, not to mention the cost of mental health to the country as a whole.


Tracy’s Takeaway


There is no life without love. That can mean the love of a significant other, but if you can’t wake up in the morning without loving what you do, you are choosing not to live. Decide what you’re going to do and love it, and have the stamina to tweak. If you love what you do and believe in what you do, you will figure out how to make money over time. Don’t abandon the process and love the journey.




EverybodyFights on Facebook, Twitter, Instagram

Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes and Stitcher Radio!

Tom Tancredo Talks Shop in Mobile App Development - Replay

Aug 30, 2019 52:04


Tom founded DOM & TOM, a mobile application development shop, in 2009 and has since grown the company (along with twin brother Dominic) into one of the INC 500’s fastest growing companies in 2015 with over 45 employees. D&T has worked with clients including: Priceline, Fitch, Bloomberg, GE, CliffsNotes, PowerRangers, the Emmy’s and more on over 250 digital projects.

Tom is also a fervent entrepreneur, having personally invested in multiple start­up ventures in New York City, including John Brown’s Smokehouse, which was named Best BBQ in New York City in 2012 by the Village Voice. Tom has given presentations on digital culture at multiple events including Hearst, AOL Ventures, Tabula Rasa, and sat on multiple digital engagement panels.


Marital First Responder Hits $100K in SEVEN DAYS!! - Replay

Aug 28, 2019 52:46


Are you a marital first responder? If people confide in you about their relationship, you might be! Or you could be if you want to be. That’s just one of the things that Cash Flow Diary podcast guest Elizabeth Doherty Thomas from The Doherty Relationship Institute discusses in this episode.

Discernment counseling is something Elizabeth talks about in this episode. But what is it? That is something you’re going to want to learn more about, but it is based in using discernment in your responses to other people when counseling them… even if you aren’t a therapist!

The interesting thing is that Elizabeth must have struck a nerve with her approach because she had an impressive six-figure launch of her business in August 2014. And forget the $100K month; she achieved that figure in a much shorter time frame.... just SEVEN DAYS!! Today Elizabeth's multifaceted business revolves around ways to strengthen marriages where possible and allow a graceful divorce if that is where the couple ends up.

So, was Elizabeth always a counselor? Nope. As with many successful entrepreneurs, she took that long path and became what she calls an accidental entrepreneur. In fact, she ended up partnering with her therapist father. And it all started with throwing a website up. Then she learned about SEO, branding and messaging. She put in a lot of time to create her initial success. Then she made improvements and aimed for the gold.

Today Elizabeth helps couples, businesses, entrepreneurs and all sorts of people with her unique brand of counseling. As a result of their efforts and the amazing response to what they are doing, Elizabeth and her father have gained exposure in Elle magazine, the Wall Street Journal and USA Today.

Listen in as Elizabeth shares the steps in her personal and business journey to reach her goals in her online business. From wearing all the different hats and walking in faith to overcoming bad instincts so she could create a highly successful business, Elizabeth has a lot to say. Learn more.

Kevin Kruse is All about Wholehearted Leadership and Employee Engagement - Replay

Aug 26, 2019 54:27


In my continuing Cash Flow Diary podcast series focusing on individuals who’ve earned $100K in a month, I’m talking to Kevin Kruse, a true employee engagement and leadership strategies superstar. The cool thing is that Kevin hasn’t just earned $100K in a single month; he’s earned a whole bunch more than that… like a million dollars in a month. But here’s the deal… Kevin wasn’t always wealthy nor did he have the skills necessary to earn the figures he does today.

Kevin said that he decided as a pre-teen to become wealthy. He wrote his goal of wealth in his journal! That’s after he witnessed a visit to his father’s home by a scary, one-armed man who was there to collect a debt. Harder lessons were to come, but the good news is that Kevin made it through his circumstances to succeed as an adult. That path started right out of college, when Kevin started different businesses fresh out of school.

Though Kevin moved through a series of failure events, he didn’t let them stop him. He kept moving toward his goal of financial security. He set his first at $100K in a year. He did some house-flipping and it didn’t work; he tried an MLM and that didn’t work; he moved down the line and didn’t have success until he realized the secret to success is to build a business about which he had a great deal of passion. He had to find mentors, he had to learn his way and work really hard. He also realized that ANY of the things he had done could work if certain elements are in place.

Today, Kevin’s mission is to convince everyone that wholehearted leadership for employee engagement is the key to unlocking dramatic business results and lots of other positives! Learn more about what Kevin does and how he got there... and how he reduced his work hours to attain the success and wealth he always wanted.

8 THINGS TO GIVE UP - Don’t be a Fraidy Cat. Fear of Success is NOT an Option… - Replay

Aug 23, 2019 24:12


You might think it sounds funny, but some people are just as afraid of achieving success as they are of failing. It’s true. That’s what I share with you today in my 7th installment of the 8 Things to Give Up series of my Cash Flow Diary podcast. 

Hey, success can be scary. It’s sort of like “senioritis.” You know… where you’ve been going to college for four years and you’re in your final months before graduation. It dawns on you that life outside the campus awaits… Some people seize up while others seize the new adventures ahead.

Maybe you’ve known someone struck down by their fear of success? They work really, really hard. They get to a pinnacle of success that causes onlookers to drool. They have the cool house, the nice cars, and the fat bank account… and then suddenly “something” happens and they lose it all. 


The answer can be shocking. Truth is that they subconsciously made that “something” happen. They didn’t feel like they deserved the success. It’s more comfortable for them to live within their failures than to push themselves out of their comfort zone to achieve not just any dream but rather the biggest dreams. 

Here’s a quote by Marianne Williamson that I like, which sums up fear of success pretty darned well. She says, "Our deepest fear is not that we are inadequate; our deepest fear is that we are powerful beyond measure."

While not all things are in our control, such as when a traumatic illness or death in the family strikes, most things really are in our control. Like our response to fear…

We ALL experience fear. It’s a basic human emotion; it even keeps us safe. But avoiding things you think are scary is not the path to success. You must do what scares you to get beyond the fear. 

When I first started out as a real estate investor I was scared that I’d do things wrong. I did them anyway. I learned what I needed to learn to get the tasks done one at a time. I knew that I could not let my fears rule me. I had no other option than to make this real estate investing thing work. If you haven’t heard my story, you need to. I had no place to go but up!

Staying “safe” wasn’t going to work for me and it’s not gonna work for you. Success is within your grasp. All it takes is the right action steps. When you get there, don’t stop. Keep moving your goal posts forward. In fact, make your goals bigger and bigger. I promise that you deserve the success you are working for and when you get to your first goal, second goal, third goal and so on, it’s time to celebrate. 

Don’t look around and decide you don’t deserve what you’ve worked so hard to achieve! Close your eyes and give thanks, then get back to working on your next project. You’re an entrepreneur. You have endless opportunities. Succeed and don’t look back. Help others to succeed when and where you can. And when you have had your first successes, I want to hear from you.

Right now, however, I want you to listen to this special episode of my Cash Flow Diary podcast. LISTEN NOW. 

8 THINGS TO GIVE UP - Criticizing Others Says More About You Than You Think… and It’s Gotta Stop! - Replay

Aug 21, 2019 25:19


We are into another new year now and I hope you’re off to a great start. That’s why I’m doing this 8 THINGS TO GIVE UP series in my Cash Flow Diary podcast. So far I’ve covered three of the things you need to toss out the window. Go back and listen to those episodes if you haven’t already. 

Today I share with you why you don’t want to put your time into criticizing others. Criticism just leaves you looking (and feeling) harsh, vindictive and cruel. Criticizing others may make you feel superior to others, but in reality that’s not the truth. How in the heck does that serve you, especially as a real estate investor? It doesn’t. 

Real estate investing (and most other businesses) require you to build relationships. How are you going to do that if you are hyper-critical? 

Let’s take the example of a property. You’re walking the property and you are there to assess it so you can make an offer and figure out how you can help the seller. If you walk around with a superior attitude, tearing the property apart with your words, I promise you’ll have a real hard time getting that seller to want to work with you.

You are setting up an adversarial relationship and it’s going to leave the seller feeling bruised and upset. You may as well pick up a heavy stick and follow the seller around while poking them with it. That’s how your criticisms feel to the other party. It is horrible and unnecessary. 

When someone is receiving criticism, it puts them in a defensive position. That sets up sour ground for negotiations. The seller will push back with their own criticisms. Both of you will walk away feeling bad about each other and the property.

Have you ever heard that old saying that you catch more bees with honey? It’s true. You don’t have to embellish; you simply have to learn to communicate in a more positive way. You can say absolutely anything if you frame it correctly. If you form an actual connection with the other person, put yourself in their shoes, learn a little about their situations and challenges, and you stop putting yourself first your negotiations will go better. Your business will do better. Your income will improve. 

As a real estate investor you are supposed to be solving problems for other people. You are alleviating pain. You don’t have to say every little thing that’s running through your brain. The seller knows the problems with the property. They want you to make an offer. They want to sell the property. 

Here’s the bottom line: No one and nothing is perfect… not even you. So, if you are prone to being critical, you need to learn how to communicate better. A book that helped me is How to Win Friends and Influence People by Dale Carnegie. 

And in researching the topic for this episode I found some really cool articles. There were several. Here’s just one: How To Stop Being Critical Of Others. It’s written by an NLP trainer and it’s pretty interesting. Read it. If you recognize any of the points in your own behavior it’s time to fix it… right now. 

You might want to listen to this episode a few times, especially the end, because I give you the way to word the negatives in your negotiations. There is a way to say everything. Learn more. LISTEN TO THIS EPISODE NOW. 

8 THINGS TO GIVE UP - Get Used to Failure Events… Cuz That’s All They Are. - Replay

Aug 19, 2019 26:43


As I continue with my “8 Things to Give Up” series today, I take you where you may not want to go. In this episode of my Cash Flow Diary podcast, I ask you to do something for me… for yourself… for your loved ones. Give up your fear of failure!

In fact, I’m asking you to look at failure in a whole new way. I want you to embrace it! 

Any successful entrepreneur has had plenty of failure events, and that’s how you have to look at things when they don’t go as planned. They are not “failures” in the truest sense of the word. They’re just events in your life and your business that didn’t pan out as you expected. 

So what? Now what? Next…

You have to learn to move past hold-ups, challenges, issues, problems and unexpected twists and turns. That’s part of life. None of us magically know how to do things the right way the first time. Everything takes practice… or do you think I suddenly and without hard work and PRACTICE became a successful real estate investor, coach, educator, author and speaker? 

When I first started in real estate investing there were tons of things I didn’t know. If I had let the fear of failing at those things where would I be now? I didn’t exactly have a choice. My wife was very ill; I had no job; my kids were hungry. Regardless of how scared I may have been in the beginning I had to put those fears aside and take the necessary steps to get to my first goal, then my second, then my third and so on. I had to educate myself on those steps. 

See, that’s the thing… It’s your reaction to your thoughts, feelings and emotions that you need to learn to control. Everyone has fears, but it’s our responses to our feelings that makes the difference between success and not being successful yet. 

You must learn to calm your inner negative, doubtful, fearful chatter. That’s all it is. Chatter. Understand that you CAN do what you set out to do… because you aren’t the first person who has ever tried this new thing you are trying to do. Plenty of people have come before you, which means you have just as much chance as them to get to your goals. 

In this episode I talk you through your fears and how to gain control over your emotional reactions. You’re gonna be just fine. Trust me on that one. Learn more. LISTEN NOW. 

8 THINGS TO GIVE UP - Negative Thinking Serves NO ONE… - Replay

Aug 16, 2019 22:34


As a real estate investor, success comes to you once you understand whom you serve. So, let me ask you something… Are you serving anyone well (or at all) by allowing negative thoughts to intrude the corners of your mind and walk all over your goals? You’re certainly not doing yourself any good, and unless your intent is to attract negativity to your life, you need to stop negative thinking now. I MEAN RIGHT NOW.

That’s what this episode of my Cash Flow Diary podcast is all about. It’s the second in an eight-part series dedicated to the things you must stop doing immediately if not sooner to allow success to enter your life. (If you didn’t listen to part one, go back and do that now.)

The funny (or not-so-funny) thing is that we can all be big negative thinkers from time to time. (That means being our own worst enemy, too, by the way.) Truth is negative thinking kills. It kills opportunities… it kills relationships… it kills deals… it kills goals. So why participate in something that isn’t going to help you get further down the path in your journey?

Replace your negative thoughts with those of a more positive spin. If you’re prone to being negative, learn new ways to express yourself. Like Tony Robbins says, you can learn to replace words with negative connotations with those that bring more positive meaning. For example, instead of telling yourself (and others) that you are “nervous, scared, anxious or frightened” about learning something new and putting it to use, try replacing those words with “excited.” Just that minor difference makes a huge impact on how you feel about what you are doing.

Did you know negative thinking can make you sick? Yes, sir. There are reasons to take on a more positive outlook. It’s simply healthier all around… for everyone.

Think about your daily conversations with people. Who do you like to talk to? I’m betting it’s not the Negative Nellies and Debbie Downers who have a lot of negative thinking going on for themselves. It’s more likely that you are drawn to those confidant individuals who display positive thinking, communication and actions. You want to be around those who are moving forward with a smile, and who have good things to say about other people and the world. You get excited for them when they start talking about what they’re doing, because positivity attracts. Conversely, negativity repels. Big time!

I recorded this episode of my podcast because I want you to be your most uplifted, positive self. I want you to stop the negative self-talk and negative thinking all-around. For more reasons you want to stop your negative thinking, give this episode your ear. Then practice what you’ve learned here today! LISTEN NOW.

8 THINGS TO GIVE UP - Wanna Reach Success? Dump the Doubt! - Replay

Aug 14, 2019 23:00


Recently on Facebook I shared an image of what you need to give up if you want to be truly successful. In short, there are 8 things:

Doubting Yourself Negative thinking Fear of Failure Criticizing Others Negative Self-Talk Procrastination Fear of Success People Pleasing

This is such an important list that I thought it would be neat to do a special Cash Flow Diary podcast series on these topics. So that’s what I’m doing over the next 8 episodes. I hope it helps you move your needle forward.

Today I tackle the #1 thing you have to stop doing immediately… that’s Doubting Yourself. (It’s a soul-killer.)

It is critical for you to have a belief that you CAN do what you set out to do. Whether that is real estate investing or any other path. When you set out on any new journey, don’t let doubt stop you from trying new things.

When you get into a place of doubt, stop and ask yourself… has anyone before you ever done what you are attempting to do? The answer is yes, of course. That tells you what you’re attempting is absolutely possible. You CAN do it if you stick to it and learn the system by which other people have reached your same goals.

You think I was confident when I first started out as a real estate investor? Heck, no. But I prayed and kept going. I messed up and kept going. I learned new things and kept going. I did what I feared I couldn’t do… and I moved forward anyway. After all, I didn’t have a lot of choice. I literally could not fail.

To understand this statement, you need to know my story. Then go listen to my very first Cash Flow Dairy podcast episodes. You’ll see what I mean.

I built my confidence over time. That’s not to say I don’t have doubts some days even now, but I have learned to control my responses to those doubts. That’s what you need to do in order to dump the doubt! This episode of the Cash Flow Diary will help get you there. LISTEN NOW.

You Can’t Please Everyone… and You SHOULDN’T! - Replay

Aug 12, 2019 23:44


Recently I read an interesting article about how being a people-pleaser is actually a selfish act. Then I found a quote by motivational speaker and life manifestation coach Christine Hassler that lays it down straight. She says, “People pleasing is a terrible investment, because it depletes your most valuable resources: your time and energy. Just think about how much energy you waste by obsessing about what other people think of you or trying to strategize your actions to appease others”

I couldn’t have put it better myself!

People pleasing isn’t something that works well for real estate investors. That’s because you’re going to have to say NO sometimes. For instance, you’re going to have to say no to some investors. Just because someone has money doesn’t make him/her the right person to invest in your deal. You’re also going to have to learn to say no to deals, to potential partners, to buyers and to sellers.

Everything has to be in alignment with your Investor Identity. That’s the secret sauce!

As you move forward and do more deals, you’re likely going to become a go-to person. Lots of people are going to want to work with you. You’re going to see all sorts of deals… and they won’t all be right for you. You’ll learn to say no. You’ll learn that you can’t please everyone.

What did Abraham Lincoln say? You can’t please everyone all the time? Hey, he’s right! And this is what I talk about in today’s episode of my Cash Flow Diary podcast. It’s the final installment of my 8 Things to Give Up series and you’re going to want to give it a listen.

By the end of it you’ll understand why if you are a people-pleaser that you have to stop. It’s bad for your health. Studies show that the behavior actually causes higher levels of stress and debilitates the immune system. So why participate in such a negative behavior?

Anyone who has ever seen me give a presentation knows I am definitely not a people-pleaser. In fact, I go the opposite way. I practice what I call Carefrontation™ which is a nice way of saying I tell people things they sometimes don’t want to hear. I tell them the truth. I ask questions that lead them to get to the truth themselves. It’s the only way I know to keep people on the right path in investing… to keep them focused on their Investor Identity so they can be their most successful.

Hey, just because you say no doesn’t make you a “bad” person. It’s better that you learn when and how to say no. You aren’t in business to be liked by everyone you meet. Sure, it would be great if you were the hero all the time and well-loved by all, but that’s not life. So stop wasting time and energy thinking about it, worrying about it or trying to get to that goal. I guarantee you that there are lots of other better goals.

I have a lot to say on this topic, so grab your ear buds, and say no to outside distractions. LISTEN NOW.

You Can’t Please Everyone… and You SHOULDN’T! - Replay

Aug 9, 2019 23:44


Recently I read an interesting article about how being a people-pleaser is actually a selfish act. Then I found a quote by motivational speaker and life manifestation coach Christine Hassler that lays it down straight. She says, “People pleasing is a terrible investment, because it depletes your most valuable resources: your time and energy. Just think about how much energy you waste by obsessing about what other people think of you or trying to strategize your actions to appease others”

I couldn’t have put it better myself!

People pleasing isn’t something that works well for real estate investors. That’s because you’re going to have to say NO sometimes. For instance, you’re going to have to say no to some investors. Just because someone has money doesn’t make him/her the right person to invest in your deal. You’re also going to have to learn to say no to deals, to potential partners, to buyers and to sellers. 

Everything has to be in alignment with your Investor Identity. That’s the secret sauce!  

As you move forward and do more deals, you’re likely going to become a go-to person. Lots of people are going to want to work with you. You’re going to see all sorts of deals… and they won’t all be right for you. You’ll learn to say no. You’ll learn that you can’t please everyone. 

What did Abraham Lincoln say? You can’t please everyone all the time? Hey, he’s right! And this is what I talk about in today’s episode of my Cash Flow Diary podcast. It’s the final installment of my 8 Things to Give Up series and you’re going to want to give it a listen. 

By the end of it you’ll understand why if you are a people-pleaser that you have to stop. It’s bad for your health. Studies show that the behavior actually causes higher levels of stress and debilitates the immune system. So why participate in such a negative behavior?

Anyone who has ever seen me give a presentation knows I am definitely not a people-pleaser. In fact, I go the opposite way. I practice what I call Carefrontation™ which is a nice way of saying I tell people things they sometimes don’t want to hear. I tell them the truth. I ask questions that lead them to get to the truth themselves. It’s the only way I know to keep people on the right path in investing… to keep them focused on their Investor Identity so they can be their most successful. 

Hey, just because you say no doesn’t make you a “bad” person. It’s better that you learn when and how to say no. You aren’t in business to be liked by everyone you meet. Sure, it would be great if you were the hero all the time and well-loved by all, but that’s not life. So stop wasting time and energy thinking about it, worrying about it or trying to get to that goal. I guarantee you that there are lots of other better goals. 

I have a lot to say on this topic, so grab your ear buds, and say no to outside distractions. LISTEN NOW. 

Top Tips to Help You Curb Your Fascination with Procrastination - Replay

Aug 7, 2019 31:55


There’s an old adage that tells us, “Don’t put off till tomorrow what you can do today.” I couldn’t agree more. Procrastinating only serves to hurt you. That’s what I share with you in this episode of my Cash Flow Diary podcast. 

There are lots of reasons to move tasks from your to-do list to your to-done list. (And, yes, I believe in to-do lists.) One reason is simple; it makes you feel great knowing you took care of business. You didn’t put the to-do’s off; now they’re done and scratched off your list. (I talk about this in this episode, but because it is really important, I also talk about it in my book.)

The bigger reason to stop procrastinating is that it’s a bad habit that holds you back from success. Literally. I’m not the only one who thinks so. I found an interesting article in Psychology Today in which you’ll learn that procrastinators sabotage themselves. Here’s the link: https://www.psychologytoday.com/articles/200308/procrastination-ten-things-know

This article breaks down the types of procrastinators and gives reasons for the “maladaptive” behavior. That’s a fancy way of saying BAD HABIT. 

If you procrastinate, you are sending the world a big message. Not a good one. 

Fortunately, there are lots of things you can do to help yourself stop being a procrastinator. For example, you can track your time in 15-minute increments. You can break your larger tasks up into bite-sized nuggets. You can change your scenery. (There’s a reason I choose to make a nearby Starbucks and the busiest malls my office!) 

Here’s the deal… You can cut back on distractions and force yourself into a corner where success is the only outcome. It starts by taking action at the speed of instruction and then continuing to take steps without putting tasks off. 

If you find that hard to do, it might be that your bad habit is being supported by likeminded pals. Maybe it’s time to change the types of people you hang out with. Another old adage says, “Birds of a feather flock together.” Hey, it’s true. 

If you surround yourself with motivated non-procrastinators that’s gonna be a whole lot better for you in the long run than if you surround yourself with I’ll-do-it-tomorrow types. While you’re at it, get a few accountability partners. They’ll help keep you on track. (But it’s still all up to you to get to your goals.)

Be clear on your goals, too. Stop overthinking things. They aren’t as complicated as you are your inner voice of fear and negativity make them out to be! If you want to learn more about the negative self-talk, go back and listen to the previous episodes in this 8 Things to Give Up podcast series. 

The bottom line is that we can be our own worst enemies. When it comes to achieving the success we desire, we can get in our own way. The good news is that we can step out of our own way, too, and we can totally change our bad habits. That’s another thing I talk about in this special episode. Don’t put off listening to it. LISTEN NOW. 

8 THINGS TO GIVE UP - Get Used to Failure Events… Cuz That’s All They Are - Replay

Aug 5, 2019 26:43


As I continue with my “8 Things to Give Up” series today, I take you where you may not want to go. In this episode of my Cash Flow Diary podcast, I ask you to do something for me… for yourself… for your loved ones. Give up your fear of failure!

In fact, I’m asking you to look at failure in a whole new way. I want you to embrace it! 

Any successful entrepreneur has had plenty of failure events, and that’s how you have to look at things when they don’t go as planned. They are not “failures” in the truest sense of the word. They’re just events in your life and your business that didn’t pan out as you expected. 

So what? Now what? Next…

You have to learn to move past hold-ups, challenges, issues, problems and unexpected twists and turns. That’s part of life. None of us magically know how to do things the right way the first time. Everything takes practice… or do you think I suddenly and without hard work and PRACTICE became a successful real estate investor, coach, educator, author and speaker? 

When I first started in real estate investing there were tons of things I didn’t know. If I had let the fear of failing at those things where would I be now? I didn’t exactly have a choice. My wife was very ill; I had no job; my kids were hungry. Regardless of how scared I may have been in the beginning I had to put those fears aside and take the necessary steps to get to my first goal, then my second, then my third and so on. I had to educate myself on those steps. 

See, that’s the thing… It’s your reaction to your thoughts, feelings and emotions that you need to learn to control. Everyone has fears, but it’s our responses to our feelings that makes the difference between success and not being successful yet. 

You must learn to calm your inner negative, doubtful, fearful chatter. That’s all it is. Chatter. Understand that you CAN do what you set out to do… because you aren’t the first person who has ever tried this new thing you are trying to do. Plenty of people have come before you, which means you have just as much chance as them to get to your goals. 

In this episode I talk you through your fears and how to gain control over your emotional reactions. You’re gonna be just fine. Trust me on that one. Learn more. LISTEN NOW. 

Fearless Wealth and Living The Undiversified Life

Jun 10, 2019 46:46


RC Peck, sits at the intersection of money and human behavior. For over 20 years he's helped people hear what their money is trying to tell them. His struggle with dyslexia, watching his parents' life savings get embezzled, and his background in Neuro-Linguistic-Programming (NLP), taught him to question the obvious. He now uses his ability to see what others can't see which brings clarity and insight to a world that is often described as confusing and overwhelming. His fearless wealth message is clear. Listen to your money. It's trying to tell you how to get the life you want.  


Podcast Highlights

Who is RC Peck?

The first answer that came to RC was a time when he was in 7th grade and taking martial arts. He was able to buy throwing stars for $2 and take them to school and sell them for $8, it was just something made sense for him to do. It just came naturally, he saw the excitement in others and the opportunity became obvious.

RC didn’t know that he was dyslexic until his 30’s, all throughout school RC felt like he was smart but his teachers and test scores told a different story. This lead him to pursuing more creative courses like art, something that came easily to him and that he excelled at. He thinks of his dyslexic journey and sees a lot of people going through the same process, but with their money. There is a form of investment dyslexia that is holding people back.

When RC’s parent’s life savings were embezzled when he was 19, that was when he realized that something was wrong with the investment world. The biggest investment mistake in the world is the belief that “I trust and like fill in the blank!” People trust anyone other than themselves to grow their money.

Where does the idea of diversification and fearless wealth come from?

Diversification is an idea from the 50’s, from academia before there were computers as we know them today. The idea of diversification is not inherently wrong, you will still eventually get to where you want to go, but there are probably better options depending on what your goal is.

We are never given the choice to not diversify because it is so common place we never even question the idea. Doing things that go against the mainstream current can be scary, so people rarely look at their assumptions and the common wisdom around investing.

There are only two things that humans can not tolerate, the first thing is not belonging. The second is not knowing the rules. A good parent can be much stricter, as long as they are consistent with their rules. People can even feel “good” about losing half of their investment portfolio value, as long as everybody else is losing too. People with investment dyslexia know there’s a problem, they just don’t have the words to describe it.

What are the words that will set us free?

The stock market is an idea that is loaded with negative emotions. When you read a headline that screams “Market Crash!”, your brain is interpreting that as a real, tangible threat. But if you look at an image of a graph of the stock market, you’ll put the whole thing in context and that can shortcut your brain’s fight or flight reaction.

We are not taught to think visually, we are taught to think in words and sentences and the whole time your brain is bringing up associated images that is driving your life. When in doubt, zoom out.

We are under attack, not by animals with claws, but from people who are paid very well that know that if they can make you angry or scared.

Simple and easy are not the same thing. The defense and offense for fearless wealth is simple but not easy. You start with an image because that will rewire your brain. It can prevent your brain from going into panic mode, and can prime you to push toward your goals. To be successful in any area, you have to dissociate yourself from the immediate surroundings.

When you achieve this rewiring you become a bigger difference maker in your community and family. People are unaware of how much of your time and attention that is being sucked away from unnecessary anxiety. Your life is broken down into three parts: your health, wealth, and relationships. If your wealth isn’t taking up as much time and attention, that leaves more for the other areas of your life.

You don’t start nine companies and hope one of them works out. You start one and focus on that. You don’t marry seven people. We don’t diversify in most areas of our lives and that’s what fearless wealth is all about. 

RC’s Takeaway

Notice that the voice has always been there, it’s not going to go away. Those who are waiting for the voice to be different before they do the training, it will never happen. If you want to jump to the front of the line, jump on a call with RC and start thinking visually with your money. You will never have to trust and like RC because you will be able to verify your results yourself.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

The E-Myth Entrepreneur: What Every Small Business Owner Needs To Hear

Jun 6, 2019 53:31


Michael E. Gerber is the founder of Michael E. Gerber Companies and E-Myth Worldwide. He has had nearly 100,000 business/coaching clients over his career and has consistently been called “the World’s #1 Small Business Guru” — the entrepreneurial and small business thought leader who has impacted the lives of millions of small business owners and hundreds of thousands of companies worldwide for over 40 years.

He is the #1 New York Times' bestselling author of The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It, Awakening the Entrepreneur Within: How Ordinary People Can Create Extraordinary Companies, The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It, E-Myth Mastery: The Seven Essential Disciplines for Building a World-Class Company, The E-Myth Real Estate Investor: Why Most Real Estate Investment Businesses Don't Work And What To Do About It, The E-Myth Contractor: Why Most Contractors' Businesses Don't Work and What to Do About It, and the new book The E-Myth Chief Financial Officer: Why Most Small Businesses Run Out of Money and What to Do about It.


Podcast Highlights

Who is Michael Gerber?

Michael didn’t find his path in life until he was 41 years old. His brother-in-law owned an advertising agency and was working with a high tech client that was having trouble converting the leads they were getting for them. He wanted to bring in Michael to help even though Michael believed that he didn’t know anything about business. The conversation started off pretty strangely, since Michael truly didn’t know anything about that client’s business, so he just started asking questions. That was how he discovered that just because someone owns a business, that doesn’t mean they understand what business is. That was also when Michael realized that he did know something about business, and that is that selling is a system.

Working with that first client was the beginning of Michael’s business, although he didn’t think about it that way. The more he worked with them, the more he realized how critical what it was that he was doing for them. It went beyond sales, it was transforming the way they thought about the business of business and the purpose of them being there.

After a moment of clarity in a McDonald’s, Michael realized that the idea of the system is what’s missing with every client he had been working with. The trouble was Michael’s brother-in-law didn’t see his business the way Michael saw all his client’s businesses. He could never truly take in what Michael was saying to him, this lead to him bringing someone in to replace Michael named Tom Travisono. After working with Michael for a couple of weeks, he decided to join him and they started the first business development coaching company on the planet.

Technician vs Entrepreneur

The truth is when you start a small company, you are doomed to misunderstand what the reality of starting a small company is. That’s why the majority of small companies fail. 1 out of 10 businesses will reach their 10th anniversary, but that doesn’t mean they’ve succeeded. They’ve just persisted harder and longer than others.

You can’t learn everything that must be known to operate a successful company, but your company needs to. The question then becomes “what is it that I absolutely need to know to start my company right?”

The E-Myth Dreaming Room

The absolutely critical role that you need to fill as an entrepreneur is that of the founding entrepreneur. Not the person that sells real estate, the person who designs, builds, and launches the company that sells real estate.

At the heart of the entrepreneur there are four critical personalities. If you are going to play the entrepreneur game, you need to understand the rules if you want to win. We are born to create, and the creator is the entrepreneur. An entrepreneur is composed of the Dreamer, the Thinker, the Storyteller, and the Leader.

Before you set out, you have to set the foundation for what you’re going to do. The Dreamer says “I have a dream”, the Thinker says “I have a vision”, the Storyteller says “I have a purpose”, and the Leader says “I have a mission.” Until you understand those four things, you don’t have the substance you need to launch your company.

Are these systems built for today or for the future?

A company is a product for sale. The eightfold path is the method that Michael teaches that deals with both where you are today and where you intend to be five years from now.

The first step is the dream, then the vision, purpose, and mission. The following step is the job, which is the client fulfillment system. Then comes the practice, which is the client acquisition system. The next step is the business, which is what Michael defines as seven turnkey practices. The final step is the enterprise, which is seven turnkey businesses.

Every person that has a creator within, all their job is to go to work on their life in a way that transforms it and creates the systems that enable them to replicate themselves successfully.

When Michael first started his company, he and his business partner spent three months talking about it. Those three months produced the dream, vision, purpose, and mission.

Reference: The E-Myth Chief Financial Officer: Why Most Small Businesses Run Out of Money and What to Do about It, Michael Gerber

Michael’s Takeaway

Let go of your doubts and concerns, and go to RadicalU.com and enroll. Michael Gerber has gone through everything that small business owners could theoretically go through. Go to work on your company of one instead of in your company of one. Waking up the entrepreneur within is the primary work every single one of us must do to understand why we are here on the planet. Enroll at RadicalU.com and begin the journey.





Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

How Property Management Can Change The World

Jun 3, 2019 59:18


Jason Hull’s personal mission statement is “to inspire others to love true principles,” which means he is passionate about learning what works in business and life, and sharing what he learns with others. As a world-leading property management growth expert, Jason devotes much of his time to finding unique ways to help property management business owners to grow their companies. He believes that good property management can change the world, by impacting thousands of families & lives. He is the founder & CEO of DoorGrow, a company whose mission is “to transform property management businesses & their owners.”


Jason leads a contribution-focused community, the #DoorGrowClub, a Facebook group full of property management entrepreneurs that believe in this vision. He also shares his wealth of industry knowledge with others through his podcast, the #DoorGrowShow, by helping thousands of property managers throughout North America to pinpoint powerful ways to take their businesses to the next level.


Podcast Highlights


Who is Jason Hull?

Jason considers himself more of a nerd that has been pushed into the limelight in order to help entrepreneurs. He credits a lot of that to his entrepreneurial mother. In college Jason decided that he wanted to start a band and went around preselling a CD that didn’t exist in order to fund the recording time, he did this despite not really thinking of himself as an entrepreneur.


Later on in life, Jason got married really young and the marriage fell apart. He needed to figure out a way to be able to spend time with his kids and around the same time his employer got hit hard by the financial crisis and no longer pay him. All this forced him into the entrepreneurial life as a freelancer web designer. Jason has an insatiable desire to learn which has served him very well as a business owner.


Now he teaches property managers how to win. Jason helps property managers clean up their branding, marketing, and help them find revenue and growth.


During his youth, Jason always had the entrepreneurial spirit without even really knowing that’s what it was. At the core of people who are entrepreneurial, they know they are unemployable. For Jason that means that he creates positive uncomfortable change wherever he goes. Entrepreneurs need to allow ourselves to do what we need to do to lower the pressure around us instead of playing everyone else’s game.


Jason’s super power is his ability to see what other entrepreneurs can’t, combined with his curiosity that pushes him to figure things out. Confidence has always been an issue for Jason, he’s had to deal with imposter syndrome since the beginning, especially since he never considered himself the go to expert for property managers.


Solving Interesting Problems

Opportunity can be very distracting for entrepreneurs because we tend to see it everywhere. On the positive side, we see that the world can be better. Entrepreneurs have always been the ones that have made people uncomfortable and moved the world forward.

Jason never planned on being a property management coach. In the beginning he tried to work with multiple types of businesses and resisted it becoming his niche but a lot about the niche really started to appeal to him. Jason found that he loves working with property managers and seems to resonate with the type of entrepreneur that’s found in the industry.

Property Management and DoorGrow

Every business exists to solve a problem and for property managers they face two major challenges. The biggest challenge is awareness. Only about 30% of rental properties in the US are professionally managed and most people don’t really know what property management entails. In many ways property management in the US is in its infancy.

The other challenge is that property management related issues are the number one source of complaints at most boards of Real Estate. Property management has a negative perception among investors. Even if you get past that, word of mouth takes the rest of the market and that leaves most property managers trying to fight for the remainder. In this case, SEO will not save them.

This lead to Jason asking the question “what would I do if I were to start a property management business?” and that lead to the answer of branding. Branding was costing some companies half the leads they could have been getting. Once Jason plugs the leaks in a client’s business, he looks at what spigot they can turn on to drive leads to the business.

The secret of marketing is they can’t hand you signed contracts, the best the can really do is a cold lead and cold leads need to be nurtured. That’s the hidden killer for most businesses, it can take two to three times as much time to warm up and close a cold lead. Instead of cold leads, Jason teaches his clients to prospect and reach out to the 70% of people who are self managing.

Most owners don’t know how to find a good property manager. The first question an owner should ask is how many doors the manager has. If the number is less than 50, they are probably struggling.

Short Term Rentals

Short term rentals are extremely young in the industry, but there is a trend of property managers getting into the business. They have a lot more turnover and work involved, but they can be very profitable. There is plenty of opportunity for property managers that want to put in the time to understand how short term rentals operate.

Jason’s Takeaway


If you have an external voice that is telling you that you can’t do something, you should find another voice. The truest voice we all have is never going to be negative. You need to find someone that can see you for who you are and what you’re capable of and is willing to tell you so.



kingjasonhull on all social media


Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

Mobile Home Park Investing with Ryan Narus

May 30, 2019 45:58


-Wake Forest University undergrad degree in Psychology/Statistics. 

-MBA also from Wake Forest University with concentrations in Business Analytics, Operations and Marketing.

-Former award winning car salesman, selling over 800 cars in 4 years, then author of the book "Car Deal Hacks" discussing how to buy a car for the best price using Psychology.

-Self taught in Spanish (es malo pero funciona).

-Co-Founder of Archimedes Group LLC, an owner-operator company that specializes in Mobile Home Parks with equity in 8 MHPs (roughly $20MM in purchase prices) spanning over 500 lots all acquired within the last 3 years.

-Started with nothing: no money, no experience, and no network.


Podcast Highlights

Who is Ryan Narus?

Ryan Narus is a kid who does not quit. In his own words he’s a boring, vanilla, Irish Catholic kid who just shows up everyday and puts in a little bit of work. Apparently Ryan was a lazy kid who never really cared until around grade 10, at which point he had a fire lit under his butt that has been pushing him forward ever since.

If he had to pick one moment, it was back during his freshman year of highschool. Ryan grew up watching Tim Duncan play basketball and grew up as a Wake Forest fan because that’s where he father taught. After taking his PSAT’s in ninth grade and falling well below the cutoff point, Ryan knew he was staring down the barrel of not going to his dream school. That sparked his motivation to turn things around.

Ryan had the excellent luck to graduate in 2009 with a Psychology degree and the intention to go into sales. Unfortunately/fortunately for him, the only job he could get was selling cars. He went on to sell over 800 cars in 4 years and write a book on how to buy a car at the best price using Psychology. After spraining his ankle, Ryan realized that the job was not sustainable in the long run and even if he made it to the top he wouldn’t want the lifestyle.

If you don’t know who you are and what you like, you will quit. Clarity leads to power, the power to decide and act. Lack of clarity creates confusion.


From Car Sales to Mobile Home Park Investing

When Ryan first started talking about real estate and mobile home park investing, both his dad and his wife were against it. If your significant other is not on board with what you’re trying to do, Ryan brought on his wife to his podcast to discuss the matter and it’s a good episode to listen to.

Mobile home park investing matches Ryan’s skill set like a glove, which is why Ryan focuses on them. He loves operations and organization and speaking to people face to face. Maybe more than all that, he loves helping people. Mobile home parks have allowed Ryan to do things that he wouldn’t have been able to do with other forms of real estate. The value add that he brings to his tenants wouldn’t be possible with retail or self storage.

Understand your customer is not your investors. You make your investors happy by generating a strong return and you do that by pumping your properties full of value, not ripping your tenants off. A lot of people getting into mobile home parks because they think it’s easy and profitable, but ultimately the tenants are the ones who pay for that kind of mindset.

The Future of Mobile Home Parks

Equities are completely overpriced and investing in real estate is now the sexy thing to do now. Huge amounts of money are pouring into the major markets and that’s pushing out the little guy. Ryan believes the future is going to change. Interest rates will probably climb back up and people will get into mobile home park investing thinking it’s easy money and will find out they overpaid.

Ryan wants people to come into the industry but not because it’s a chance to just make a lot of money, he wants to see people that want to help make it better.

Ryan’s Takeaway

There are four things: You’re going to self assess, you’re going to learn, you’re going to love, and you’re going to sacrifice. It’s not going to happen quickly. Once you discover who you are, start looking and learning and networking. Once you identify whatever your dream business is, you have to have the courage to take a big bet on yourself and sacrifice. Once you’re full time, you will find deals and opportunities. When you’re 80 years old, are you going to look back and say “I’m glad I stayed at that job!”? Of course not.





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Alternative IRA Secrets

May 27, 2019 52:15


Eric Satz (rhymes with “cats”), founder and CEO of Alto IRA, is a serial entrepreneur who’s seen both wins and losses. Eric knows investing is no longer just for the wealthy, and is living out his mission of delivering 21st-century investment opportunities to everyone, even non-accredited investors. Eric is a former investment banker and early-stage investor with a passion for nurturing startups and raising capital. He teaches an entrepreneurship class to high school students in Nashville and served on the Board of the Tennessee Valley Authority from 2015-2018. Through Alto IRA, Eric is making alternative asset investing available to all by giving people the support they need to choose amd make their own investments using their IRA savings.


Podcast Highlights

Who is Eric Satz?

Eric is a product of his parents, two very different individuals. Both had significant impacts on who Eric became in life with his mom bringing the entrepreneurial mindset and his father the steadiness and in many ways an entrepreneurial spirit of his own.

Eric started out his career as an entrepreneur selling classically selling lemonade and delivering newspapers. Once he graduated, he went from academia to Wall Street to a company called DLJ. It was there that he worked with a number of entrepreneur clients. From DLJ, Eric opened up a coffee bar in New York City in the same year that Starbucks opened their first NYC venue. That was Eric’s first real failure, but luckily that paved the way for Eric to get back on Wall Street. Long story short, Eric has opened an online foreign currency exchange, since moved to Nashville, started an online organic grocery delivery business, and venture capital firm. It was at that last one where Eric discovered the opportunity to invest an IRA in alternative assets, also known as the alternative IRA.

Now, Eric’s mission is to give everyone in America to have the choice in retirement. If nothing changes the way we invest today we will have 25 million Americans living in poverty by 2050.

Retirement and Location

The financial industry has gone to investments in ETS mutual funds and index funds, and that means the expectations for returns shouldn’t be any higher than 4-6%, which is a big problem for people that are looking to retire. Another problem is the public market has changed, the average person no longer has the opportunity to participate in most deals until they are already overvalued.

Most people raising money don’t know they can accept IRA money as investment, as much as people who have money in their IRA know they can invest it in privately owned businesses. 90% of all savings in the country reside in retirement accounts.

Eric’s alternative IRA platform has solved this problem by making it simple and easy for people to invest their IRA money. There are a lot of sophisticated investors don’t know that this kind of investing is even possible.

The Alternative IRA

Alternative assets are not publicly traded securities which can be bought through a traditional broker. Also, a self directed IRA is not an alternative IRA. With a self directed IRA, you only have the choice between the approved list of publicly traded securities.

Retirement savings dollars should be invested in long term, illiquid assets because those are the assets that will generate the returns you need to get to actually retire. Investing in liquid assets like stocks and mutual funds for retirement is exactly backwards.

Accredited Investors

The idea of an accredited investor has its origins in the Securities Act in 1933 and 1934. They were originally created to protect investors from shady people investing their money in railroads that were never going to be built and at the time, they probably made sense. Today, it basically means that the government is essentially saying that people who have money are smarter than people who don’t, which is something that Eric takes issue with.

People who know that their future depends on how their investments are going to perform over time are going to do their homework, and it’s entirely unfair to say that they can’t because they’ve never been given the opportunity.

Since the Jobs Act, there have been a number of crowdfunding platforms that have opened up investing to non-accredited investors but there is still a lot of work to do.

There is a conflict of interest when it comes to financial advisors and an alternative IRA. When you invest in an alternative asset, they don’t make any money so there is no incentive for them to make sure you know what’s possible.

In a lot of ways, Eric’s business was an effort to scratch his own itch. But after going through the experience of trying to invest in an alternative asset, he started to dig into the issue and found an opportunity and a mission. America needs access to real estate and private companies to generate some outsize returns and make retirement a possibility for more people.

Eric’s Takeaway

If you are related to that voice, you have to make sure you are on the same page otherwise that will probably be the end of that relationship. If you are going to move forward, don’t do it half way. You have to commit to it, otherwise you are just going to be second guessing yourself the whole way. There are going to be a lot of bumps in the road, being an entrepreneur is hard and will test your character. You have to be passionate and committed.






Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

Courage Goes To Work With Bill Treasurer

May 23, 2019 48:33


Bill Treasurer is chief encouragement officer of Giant Leap Consulting, a courage-building company. For over two decades, Treasurer has worked with thousands of leaders across the globe, strengthening their leadership influence. He is the author of the new internationally bestselling book international bestseller Courage Goes to Work: How to Build Backbones, Boost Performance, and Get Results. 

His previous book, A Leadership Kick in the Ass: How to Learn from Rough Landings, Blunders, and Missteps, provides practical tips for building confidence and humility. His other bestselling book is Leaders Open Doors: A Radically Simple Leadership Approach to Lift People, Profits, and Performance. His clients include NASA, Saks Fifth Avenue, UBS Bank, Walsh Construction, Lenovo, Hugo Boss, Children’s Miracle Network, and the U.S. Department of Veterans Affairs. More at BillTreasurer.com and CourageBuilding.com.


Podcast Highlights


Who is Bill Treasurer?

Bill grew up in the suburbs of New York and they tend to have a particular swagger due to trying to people trying to make their way in city that is crowded with other people trying to do the same. Bill found springboard diving as an avenue to compete in and started winning championships, ultimately getting to the point where he was having scholarships offered to him. The trouble was, Bill was afraid of heights and wasn’t experienced with any high dives, which were a requirement to get those scholarships. Lucky for Bill, he had a coach that wouldn’t let him quit.

Bill’s coach put him into gradually increasing situations of fear, raising the board higher and higher, eventually getting him to the point where he was able to do dives in excess of 100 feet.

Human beings don’t grow in a zone of comfort, we grow, progress, and evolve in a zone of discomfort. If you walk through the fear instead of running away from it, there are rewards on the other side.

Bill basically didn’t enjoy the idea that his own fear was the only thing in his way and holding him back from having a life experience that very few would ever get.


High Diving Into Business

When Bill was the captain of his high diving team he had no idea who he was as a leader so he modeled the leader he knew best, his father. This didn’t turn out well. He started to read books on leadership and ended up working with companies that worked specifically with leaders. Eventually, after accumulating a lot of experience, Bill wanted to take his own big leap and start his own courage building consultancy.

You have to know what your values are in order to be congruent with them. For Bill, that meant creativity and independence, which is why working at someone else’s business wasn’t the best fit for him. It eventually became a soul question, he realized that if he didn’t make the leap he would be suppressing his soul forever. He wasn’t prepared to live a life of dangerous safety.

“Most men live lives of quiet desperation and go to the grave with the song still in them.” -Henry David Thorough

What will you regret the least? Will you regret taking the chance and failing? Or not taking the chance at all?

Why Courage?

Bill wanted to have a risk leadership company, but the term risk didn’t really resonate well with executives that Bill wanted to work with. Bill worked with Mark Levy on the brand and he pointed out that the core concept was really courage so that’s what he should focus on. Once Bill realized that, it all came together.

Courage Goes To Work

You have to do something to make the courage happen, and it usually involved discomfort. Courage is not something you are, you have to go out and get it which is how courage goes to work.

Courage has a relationship with fear, if you’re not afraid you’re not applying your courage. Courage is not fearless, it’s acting despite the fear. For entrepreneurs, failure has a way shaping us. If you’re not failing, you’re never really extending yourself or growing. Innovation and experimentation happens when you are able to fail forward.

If you’re on the cusp of taking a big risk, you need more than a pro and con list. If you can answer in the affirmative for the five P’s, you are much more likely to succeed. Do you have passion for the thing? Is it connected to some principles you hold dear or that are important to you? Is it connected to your purpose in life? Is it your own perogative or is something forcing your hand? The final P is profit, what will your potential reward be? Run it through the five P’s and you will increase your odds of success and also being happy with the result afterwards.

How do you measure courage?

Courage has three different buckets that can be measured. The first one is Try Courage, your ability to try something you’ve never done before. Try Courage is the courage of action and facing the unknown. The second is Trust Courage, the ability to be vulnerable. It’s trusting others to get things done and yourself to see things through. The third is Tell Courage, the ability to express your own beliefs knowing that they will be open to scrutiny.

Reference: Courage Goes to Work: How to Build Backbones, Boost Performance, and Get Results, Bill Treasurer

Bill’s Takeaway


First answer the holy “what do you want?” Many people don’t know, and it’s not up to others to tell you. Then think about where you may be playing it too safe, that may be where you need to take your next risk. Once you’ve identified where you want to go, you can start taking taking the little leaps that will get you to the giant leap. You don’t have to take the giant leap all at once.







Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

The Employee Experience and The Magic of Engagement

May 20, 2019 46:25


Tracy M. Maylett, Ed.D., SPHR, SHRM-SCP, is the CEO of DecisionWise, which for over two decades has advised organizations in more than seventy countries on employee engagement, leadership, and organizational development. He is the bestselling author of The Employee Experience: How to Attract Talent, Retain Top Performers, and Drive Results and the new book ENGAGEMENT MAGIC: Five Keys for Engaging People, Leaders, and Organizations.


Podcast Highlights

Who is Tracy Maylett?

Tracy believes his real purpose in life after going to perhaps too much school, is creating environments that allow people to do their best, either through his writing, teaching, or his efforts in his business.

There were several moments that changed the course of Tracy’s life including his experience in retail and when he realized that in order to be a successful human resources person he needed to understand business in general. He didn’t start out wanting to be a CEO (he actually wanted to be a football coach) but that’s where he ended up one step at a time.

When Tracy was in college he felt that being an entrepreneur or a CEO just wasn’t worth the risk. But as he started working for large organizations he realized that he could control his own destiny better if he was the one calling the shots. He redefined what risk meant to him over time.

Founder vs Entrepreneur

Founder and entrepreneur are often considered interchangeable but that’s not true. An entrepreneur is an individual that is able to understand the purpose and vision of the organization they run and match that to what people need, but they don’t have to be at the top of the organization.

Founders aren’t necessarily entrepreneurs. They start the company but in many cases it makes more sense for them to move on and hand off the reins to someone else. The transition out of the founder role is a tough one for many people to make, including Tracy.

There is a point where you realize that you can’t do everything and what you really need to do is manage the people with the right skills instead of trying to do it all.

Employee Experience

Engagement in the employee experience has two parts. The first is some sort of emotional level and the second is taking action. Where most organizations mess up with engagement is that they need both, not just the positive emotions.

Just paying your employees more will not get you the results you want. The fact that someone is safe at work does not motivate them, but if you take that safety away it certainly reduces their motivation. The same thing applies to pay. When we receive something, we adapt to it very quickly. Compensation has to be there to meet the employees needs, but it’s not going to motivate them for more than 10 days. Increasing pay is the lazy leaders way.

Engagement Magic

You still have to pay your employees enough, but once that’s done the question becomes “what’s next?” When Tracy did the research into engagement he discovered there were five keys factors that drove engagement in someone’s life and work.

Meaning is the first. When you find purpose in the job beyond the job itself. Autonomy is the second. When you find a way to use your skills in a way that works best for you and allows you to make decisions. The third is growth. People will leave a business or organization for growth opportunities more than anything else. Impact is the fourth. You’re getting results for your effort. The fifth is connection. Doing something beyond yourself and feeling a sense of belonging.

When all the elements are present that’s when people start to engage.

Autonomy is one of the toughest elements that business owners deal with. The key is to set constraints and boundaries and then allowing the team to operate within those parameters however they see fit. You have to make the boundaries and expectations clear and then be able to step back.

People stay where they grow. Growth doesn’t necessarily mean promotions, but more about challenges that allow the person to grow and figure things out. Our natural human instinct is to seek new ways to grow and become better. The ideal leader is one who can identify an assignment for someone that stretches them just enough to challenge them without causing them to burn out.

Reference: ENGAGEMENT MAGIC: Five Keys for Engaging People, Leaders, and Organizations, Tracy Maylett

Tracy’s Takeaway

A leader who is engaged is 213% more likely to have a team that is engaged. If you’re not engaged, it’s going to come through. You need address your own engagement first. You also have to remember that what makes your business go, is the people in your business. Focus on creating that employee experience and the results will follow.



The Employee Experience

ENGAGEMENT MAGIC: Five Keys for Engaging People, Leaders, and Organizations

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Multifamily Real Estate Investing With 37th Parallel

May 16, 2019 57:22


Chad Doty has 12 years of experience as a multifamily investor, but he wasn’t born with realestate in his blood. Originally, Chad was a management consultant for Arthur Andersen. Watching that company meltdown prior to him making partner made him realize that letting outside circumstances control his life wasn’t for him.

So Chad then founded his own consulting company, only to realize he was simply trading time for money. Determined to control his own destiny, Chad decided to leverage commercial multifamily real estate to develop recurring, passive income. He formed 37th Parallel Properties, a private real estate acquisitions and asset management firm.


Podcast Highlights

Who is Chad Doty?

Chad was very driven as a kid, mainly due to his military father. He had aspirations to get into the Navy but because of a variety of reasons he wasn’t able to join. He decided to go into school and try to find something that he was really going to enjoy, he ended up becoming a network engineer and being very disappointed. He went back to school to get his MBA, found himself working for Anderson as a consultant and moving up through the ranks there.

When you can answer the question of who you are a hero to, you will be playing an entirely different game from everyone else.

Based on his DISC profile, Chad is a defined D and that heavily determines how he works and how he interacts with people on his team.

What was it like to make such a drastic change?

Chad didn’t really get the entrepreneurial bug until his mid 30’s. Most people can imagine what their perfect day looks like, but most people can’t imagine what a perfect month looks like. When Chad’s wife became pregnant that lit a fire underneath to make sure that when his child was born that he wouldn’t be an absent father. He was in the position to shift to his own client base and consultancy and in the following months made the move.

When you go to do something different, a very powerful question you should ask yourself is “what is the worst that is going to happen?” You are 100% responsible for the results in your life, at least in how you respond to the events that occur.

The Right Business

Real estate wasn’t the first business that Chad attempted to get off the ground, he initially thought he didn’t like it. He started trading the market but felt that there were better ways to use the same engine and real estate fits the bill. People are always going to want a roof over their head so it passes the evergreen test.

You can determine all things the affect you as an owner and if you focus on the fundamentals you can find success in real estate. Multifamily is going to be here for the foreseeable future, demographics basically ensure it’s a solid investment.

What kind of market do you operate in?

Chad uses a concept called your MAC profile, it stands for Market, Approach, and Capability. There are a million ways to make money in real estate but for Chad, he knew the approach they wanted to go with being long term holders of cash producing assets. They will hold the asset for as long as it performs at or above the market and the market hasn’t changed.

When you get into real estate, you have to think about what kind of investor you want to be. The market has to match the approach and capability you bring to the table.

People don’t pick properties to live at, they pick where the best part of town they can live based on job, school, and entertainment. There is no secret market for Chad, the markets they operate in just have the fundamentals that make them attractive.


Chad hears two things that he refers to as real estate mythology. The first one is that a building can be a deal at some price, which sounds true but when taken with the next piece it becomes false. People believe that if the deal is good enough, people will find you but the truth is money flows to people that know what they are doing.

Finding a deal does not mean you will find money. You have to be competent enough to take care of your investors money, that’s the barrier to entry and most people don’t want to put in the work to get the experience.

What do you think are threats to multifamily real estate?

Interest rates are important but Chad believes the US has achieved a soft landing for the most part. The days of the Federal Reserve just letting the market do whatever it wants are gone.

For every 1% drop in ownership rate that translates to 1 million new renters. Demographics are everything. There would have to be a world level event that would have to impact nearly everything for it to be a real threat. Understanding the demographics and interpreting the data opens up tremendous opportunities.

Multifamily real estate over the any period over three years has the greatest risk adjusted return of any direct ownership asset class. One of Chad’s principles is evidence based investing and that’s why multifamily is his asset of choice.

Chad’s Takeaway

Learning how to be a successful multifamily real estate investor is not like becoming a doctor. Commitment is the major difference. If you tried it before and didn’t succeed, chances are your commitment was less than 100%. If you get to that level of commitment, nothing will stop you. You will find the gaps you need to make progress. Find out what your gaps are, find out what the ecosystem is, and find out how you can learn it all and go from there.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

Wealth Made Easy

May 13, 2019 44:15


Dr. Greg S. Reid is author of the Think and Grow Rich Series and Founder of Secret Knock. New York Times' bestselling author of Three Feet from Gold: Turn Your Obstacles into Opportunities! with Sharon Lechter (which turned into a successful documentary), Thoughts Are Things: Turning Your Ideas Into Realities with Bob Proctor, Stickability: The Power of Perseverance, which is part of the Think and Grow Rich series, and the new book Wealth Made Easy: Millionaires and Billionaires Help You Crack the Code to Getting Rich.


Podcast Highlights

Who is Greg Reid?

Greg grew up in the mean streets of Delmar, California. When he was younger and graduated from high school, Greg decided to skip college and instead get a place of his own and find work in sales and marketing. His father told him that he would never make a living talking to people which was obviously not true. Parents often mean well for their children, but that doesn’t mean they always give good advice or have the right information.

Greg believes his super power is not caring what other people think. People have told him what Greg could not do his entire life and he went and did them anyway. If you spend your day seeking counsel and ignoring opinions, that’s the day your life will change.

Greg knows the power of working towards his strengths and hiring his weaknesses. When writing his first book, Greg was turned down 268 times in a row. He realized that he was missing something and hired a ghost writer to shore up what was clearly one of his weaknesses.

What would you say to entrepreneurs that are hearing no right now?

Greg spent three years travelling the world meeting people worth millions of dollars and asked them exactly what steps they did. One of them told him that you have to get to bat 26 times. You have to swing the bat 26 times in business before you hit a homerun. This means that if you want to succeed, all you need to do is keep trying.

Stop planning, stop caring about the way you will get to your goal and instead just start taking action towards that goal. The most successful people are also the most available people.

Seeking Counsellors

If you can talk to people on a human level and you can understand what they want and give them what they desire, you can ultimately have everything you want in life..


Greg loves what he does, which is why he keeps doing it.

Greg managed to complete his bucket list last year, a list which included some pretty incredible things that seemed completely impossible when he wrote them down. As soon as you have a dream and move toward it, you look for unexpected opportunity and people will be surprisingly eager to help you.

Once he completed his bucket list, Greg felt a little lost. That was until he discovered the fun of helping his son accomplish things on his bucket list.

Wealth Made Easy

Time plus land is wealth. Wealthy people are often happy to share how they did it, mainly because no one ever asks.

People know about the law of attraction and action, but they often forget the law of gestation. You have to plant the seeds of success and let the law of gestation run it’s course.

If you want to make a lot of money, all you have to do is create a product, good, or service that will people will save their money to have.

Following your passion and the money will follow is one of the biggest lies that people in the world believe. Stop following your passion and look for and seize opportunity.

There’s a concept called CPC, it stands for Clues, Patterns, and Choices. Everybody will show you who they are by giving you clues and acting in patterns, ultimately it’s your choice whether you interact with them.

Getting Permission

All the wealthiest people were trendsetters. They usually had contrarian ideas about investing and business that pushed them to create a path that hasn’t been blazed before.

Surround yourself with people that are getting the results you want and have respect for, not people that you have influence over.

Secret Knock

The Secret Knock is the greatest event that you can’t go to. It brings people together that are thriving and want to accomplish more. You don’t have to be rich and successful to attend, you just must have the willingness to want to be.

Reference: Wealth Made Easy: Millionaires and Billionaires Help You Crack the Code to Getting Rich, Greg Reid

Greg’s Takeaway


Stop sharing your ideas, goals, and aspirations with the people you know are not going to support you. Seek someone that has already had the results you want and surround yourself with people that are ultimately going to help you succeed.



Gregsreid on Instagram

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Strike Social and Advertising Intelligence

May 9, 2019 51:15


Patrick McKenna is the Founder & CEO of Strike Social. He co-founded and sold telecommunications company WCI in 1996. He was recruited by Microsoft as part of a 50 person team to develop the internet audio and video industry. By the end of Patrick’s 12 years at Microsoft, the department had developed into the Windows Entertainment Division now employing 40,000 people. Patrick has spent his career mentoring and investing in startup companies and in 2013 founded Strike Social, which was named the No. 17 fastest-growing private company in the U.S. for 2017 by Inc. Magazine. Strike Social develops AI- powered software and services for digital advertisers across industry verticals with over half of the Fortune 500 benefiting from its solutions including brands like Beat, Xbox, Honda, Mattel, Lionsgate, and large financial institutions.


Podcast Highlights


Who is Patrick McKenna?

If Patrick were a superhero, he would be Batman. He’s always learning and has a ton of great gadgets to help him get things done. Curiosity has always been a major driver in Patrick’s life and he loves figuring out how things work. That includes early computers, technology, and the beginnings of the internet.


Patrick started off as an entrepreneur in the telecommunications industry which is where he became immersed in the idea of being his own boss. One of the small startups Patrick became a part of were teaching corporate training via videos over the internet. Microsoft noticed what they were doing and snapped up the team that Patrick was a part of and that’s how he ended up at Microsoft.


The Bleeding Edge of Advertising

While working on the audio and video technologies at Microsoft, Patrick’s team was on the bleeding edge. It was a time before broadband, before YouTube, before a lot of the technologies that we know today. Now his focus is on using machine learning and AI to make the internet experience even better.

Labor costs will be 80% to 90% of your business in most cases. If you’re not building processes and automation, and you’re not using the software and technology that’s available you’re company is not built to last.

Strike Social

Strike Social helps large organizations through video advertising reach their audience. Machine learning plays a major role in that by optimizing and customizing the types of ads that are shown to people.

Data science is largely misunderstood, meaningful data that will help you make informed decisions can’t be done with just a spreadsheet. For smaller businesses and entrepreneurs, there are many different companies and technologies that are heavily invested in AI and data science that they can take advantage of. As time goes on the technology will become more accessible and affordable, similar to the way audio and video tech has evolved.

The best thing you can do if you want to grow is to find someone who is really good at the social media platforms and bring them on board, the challenge with that is your company will only be as good as that person’s knowledge base.

Machine learning is how companies avoid diminishing returns to some extent in their paid advertising, but you will never be able to really escape it. You should test every aspect of your ad, but just one at a time.

When it comes to creating video, working with existing creators and influencers is one way of testing your creative efforts.

Patrick’s Takeaway


You have to understand what the platforms are good for. If you’re just starting out, you should start with search, Facebook, and Instagram, and then look to your competitors. Study what they’re doing and see what resonates and then go test it out. Try to get an immediate return so you can start building on your results and scaling your efforts.




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The Incredible Story of Tenacity and the American Dream

May 6, 2019 41:18


Ron Coury is a former casino dealer and a realtor, as well as a partner in restaurants and gaming bars, major graphics and glass companies, and several automobile dealerships. He is a board member of the Las Vegas Metropolitan Police Department Foundation and bestselling author of Tenacity: A Vegas Businessman Survives Brooklyn, the Marines, Corruption and Cancer to Achieve the American Dream: A True Life Story.


Podcast Highlights

Who is Ron Coury?

When Ron was 12 years old he went to your average small school in Brooklyn and his parents gave him a wooden shoe shine box for Christmas. Not only did it held  him avoid being punished in school for not having shined shoes, Ron started shining shoes for $0.10 before school. His experience making money when he was young led him to the belief that he was niche finder and when you find a niche you can do better than others, you should take a shot at it.

Ron was drafted to fight in the Vietnam war after he dropped one of his college classes, he was trained for war but never deployed. That’s how he ended up in Las Vegas, he was trained in the area and really enjoyed the city so he never went back to New York.

One of the major concerns Ron always had when he was young was what would happen if he couldn’t work due to cancer, which happened to run in his family. This led him to look for ways to earn money and be in business for himself. After 4 years in the casino, he became a realtor during the day while maintaining his dealer job at night, and this allowed him to accumulate enough money to buy his first tavern.

Asking The Right Questions

Ron lost his dad to cancer as well as his dad’s three brothers and sister, which led him to the thought that “how do I make money if one day I can’t work anymore?” and building a business was the logical conclusion.

Tenacity and Overcoming Obstacles

Everyone encounters obstacles in business and life. The Marine corps gave Ron the tenacity to not accept defeat easily. When he encountered an obstacle, Ron looked at it as a challenge to overcome. Even death threats were dealt with in a straightforward way.

Each business that Ron started allowed him to see the need for other businesses. Being an observational entrepreneur has been key. Ron saw a need and then figured out how to fill it.

Time management and hiring the right people has been critical to Ron’s success. He made enough time in his life to get all the important things done by being very intentional.

Don’t be a self defeatist. Many people don’t pursue their dream because they can’t do it. You can’t hit the baseball if you don’t swing the bat. Not having the money isn’t a reason to not do something, there is always a way.

What was your overarching goal?

For many people the goal is some amount of wealth or net worth, for Ron that was never a consideration. He was always looking for new challenges to stay interested which is why his businesses were so diversified. The challenge to build something new and do it well.

Making Mistakes

You are going to make mistakes, that’s unavoidable. You can’t just let them get the best of you. Not every venture Ron began was a success. Even when one of his businesses failed, Ron didn’t let that dissuade him from starting his next business.

Reference: Tenacity: A Vegas Businessman Survives Brooklyn, the Marines, Corruption and Cancer to Achieve the American Dream: A True Life Story, Ron Coury

Ron’s Takeaway

Live your life by certain guidelines. There is never a wrong time to do the right thing. If you have an idea, don’t hesitate to show it to people and bring on partners that can help and that you trust. Don’t be afraid of making a mistake, mistakes don’t mean you fail. You adapt and improvise, and believe that failure is not an option.




Tenacity on Amazon

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Going From Homeless to Billionaire Real Estate Developer

May 2, 2019 43:42


Andres Pira is the CEO of Blue Horizon Developments and Managing Director of Phuket Condos & Homes. He is the author of Homeless to Billionaire: 18 Wealth Attraction Principles for Creating Unlimited Opportunity.


Podcast Highlights


Who is Andres Pira?

Andres is a real estate developer based in Thailand and before he achieved everything he has so far he was thinking of things in a very different way. When Andres hit rock bottom in Thailand, he was homeless and sleeping on a beach. The first time he got his hands on a self development book, it changed the way he thought about life and set him on the path to where he is now.

Whatever you want in life, make sure you create it in your mind first. When Andres first read this principle, he went out and did it just to prove that it didn’t work. Lucky for him it actually worked for him and changed his life. He started to get results by practicing the visualization principle and discovered that by self doubt is what prevents you from creating what you want. You can’t have both opposite energies in your mind at the same time.


How often have you found that solutions come in a form you are not expecting?

All problems are just opportunities in disguise, you just have to look at them from different angles. Knowledge is much more powerful than money.

We are always waiting for the perfect moment to take action but perfect moments don’t exist. You have to just take imperfect action. Every success that Andres has had has come from his taking action despite being terrified. Most people never try and that’s why they never get any results.

Why become a real estate developer in Thailand?

Andres always wanted to live in a tropical country and make his own way. When his grandfather died, Andres inherited $2000 and took a leap of faith on a one way ticket to Thailand. He didn’t know anyone but he knew that in the worst case scenario he could always go back to his family. That gave him the confidence to go take the risk.

When Andres arrived in Thailand he got a job at a hotel but due to his frivolous mindset he wasted his money and found himself evicted from his apartment. He was too ashamed at that point to go back home and reached out to a friend for money, instead of sending money he sent Andres the book that changed the way he thought of life.

He took massive action and eventually got a job with a Real Estate agency that took a chance on him. He put all his energy into doing his absolute best at the job and got promoted again and again, eventually getting to the point where he had enough money to start his own real estate company and became a real estate developer himself.

Taking leaps of faith and always striving for more is now part of who Andres is. Getting out of your comfort zone is vital. Success doesn’t mean being a millionaire, success is doing the things that make you happy.

Start with small goals so you can build your confidence and courage to accomplish bigger things.

Changes in the Real Estate Industry

Technology is making it easier and easier to reach new people and show properties, in many cases without even meeting the person because of the advent of sophisticated VR.

There are people coming from all over the world to buy properties in Thailand. Andres doesn’t believe that he would be the person he is today without being in Thailand but at the same time he’s always open to possibilities.

Whatever you want to do, you have to study the field if you want to succeed. Read about it and learn about it.

Building a Team

Behind every major success is a team. Andres’ team is the main reason he has achieved everything he has achieved.

Advice to your Younger Self

It doesn’t matter where you come from, what you have in your head and what you believe will determine what you achieve. Ask yourself what makes you happy, most people don’t really know which is why most people don’t find it.

Reference: Homeless to Billionaire: 18 Wealth Attraction Principles for Creating Unlimited Opportunity, Andres Pira

Andres’ Takeaway


You will have limiting beliefs that will tell you it can’t be done, but you can change those beliefs, it just takes time and action. You have to think, and affirm, and repeat but it won’t happen overnight. You have to take many small steps to get there. If Andres can, so can you.



Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

Getting Started and Staying Started in Real Estate Investing

Apr 29, 2019 44:01


Whitney Nicely went from no investments (or strategies) to 19 houses, 19 apartment units and 7 chunks of land in less than three years all bringing monthly money to her bank account on autopilot.

She has traveled the United States speaking on stages, teaching her simple strategies, and meeting with other successful real estate investors- and still buying houses the way she teaches others.

Since 2016, Whitney has led and trained hundreds of future real estate rock stars to grow their portfolios, collect checks and achieve financial freedom. 100's of real estate newbies are securing leads, signing deals and scaling their dream incomes through the First Deal Done Fast Program.


Podcast Highlights



Who is Whitney Nicely?

Whitney is a local small town girl that had a big dream to break into the good old boys club. She was born into an entrepreneurial family and she noticed that real estate investing was dominated by men. She decided to push the bounds of what women should be doing and what being a real estate investor means.



Why did you choose real estate investing?


Whitney’s mom was an old fashioned real estate investor and was the inspiration, in a way, for her to try it out. Instead of showing her the ropes though, she taught Whitney to stay started and learn for herself. She gets more done by dealing with the things that are right in front of her instead of the things she could worry about that probably wouldn’t happen.


How did you go from girl scout cookies to real estate?


Whitney was raised by people with the mindset of “if you want something, go out and do something.” She started her career flipping furniture, moved on to flipping dump trucks, and graduated to real estate after helping her mother flip a rental house. This is where she discovered her love of the world of real estate investing.


How difficult was the transition?


It wasn’t very difficult at all. You start with something small and you grow into more zeros and commas. Most people can save enough money each month to invest in real estate. Give yourself permission to move forward.


Did being a fourth generation entrepreneur help you growing up?


Being in an entrepreneurial family has both advantages and disadvantages. Whitney has always been very comfortable in the world of business, but it also comes with tremendous pressure for her to not fail.

Whitney didn’t jump into the deep end of real estate investing right away, she worked four jobs before she bought her first property. Go slow and steady, and when you are ready, pull back on your time at your other job when you need to.


Can anyone who wants to, do this business?


Everyone has the same problems. There are opportunities everywhere and anyone can get started by starting small.

Starting something like real estate can seem scary from the outset. When you focus on your seller and buyers, that takes the pressure off you. Your goal in this life should be to help as many people as you can, keep your efforts small, personal, and smooth.


Why shouldn’t we talk to realtors?


Realtors are in the service business of helping people who don’t have the time to do the research themselves. The best agents are investors, and the best investors don’t have a license. Agents are necessary, but for investors, this is not the best option.

If you want to get started, stop watching television. You will instantly have three more hours each day for you to get out there and make some money.


What does your team look like?


Whitney has an accountant and a lawyer that takes care of her main operations, but Whitney takes care of the people side of the business herself. You don’t need a team to succeed.

You don’t need money to start, you need a contract. After you get the first deal done, the rest becomes easy. You don’t need an LLC or a website to get started.


Why aren’t more people doing this?


People’s pride is stopping them. Adults have seen their friends and family fail, and their pride is preventing them from even trying because they are afraid.


Whitney’s Takeaway


When Whitney went to her first real estate boot camp, she talked to her boyfriend who declared that she had wasted her time and it was never going to work. Even after her initial success in the first year, he continued being negative until she broke up with him. If you have a negative person in your life telling you it’s never going to work, tell them to sit down and watch.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

Consistency Beats Intensity, Finding Abundance With Real Estate Investing

Apr 25, 2019 37:18


In 2015, Paul Thompson wanted out. His corporate office had become a suffocating cell. Paul decided to start buying rental houses, build passive income and break the chains of Corporate America. He was so successful, he secured 20 deals in his first 18 months of investing. Since that time he has acquired more than 2 dozen rentals without bank financing.

Now he teaches others how to raise money from regular people that have some funds to invest. In addition to coaching others and still investing himself, Paul hosts a podcast to educate others. Ready Investor One offers tips, hacks, insights and more for listeners interested in creating opportunities for passive income. “Level Up Your Life through real estate investing.”


Podcast Highlights

Who is Paul Thompson?

Paul was a normal average person working in corporate America trying to climb the corporate ladder. Eventually he realized that the ladder he was climbing was against the wrong wall and needed to find a way out. He started looking for way to replace his income and considered a lot of opportunities including a new job and buying a franchise, but he decided to go down the path of real estate investing. He purchased 18 properties in the first 18 months, but took the process one step at the time.

Real estate investing can be uncertain but it can be done with less risk than starting a business.

Neural science has proven that to make any lasting change, you have to have one of three things: you have some sort of an epiphany, you change your environment, or you take baby steps. For most people they need the epiphany which is what happened with Paul. He realized that the freedom to choose what he does with his time was what he really wanted and had to do something to make that a reality.

Teaching Children

Kids do what they see, not what they hear. Paul wants to be an example for his children and for them to remember the time he spent with them. Kids don’t really care about what you’re doing for income, they care about how much time you spend with them.

Real Estate Investing Day One

Paul was actually laid off from his job which is usually quite a rough event in someone’s life, but for Paul it was the fourth happiest day of his life after his wedding and his kids birthdays. He had already been planning for the day when he would put in his resignation so he was quite ready by that time.

One of the very first influencers that Paul had found was J Massey and one of the things that J talks about a lot was private money, so that’s what Paul focused on at first. He met a local wholesaler and a private money lender and managed to put a deal together that made sense for everyone involved.

As Paul has expanded and gotten more savvy his criteria has gotten more strict but finding the right kinds of properties has actually gotten easier.

New Ways Of Thinking

Paul has codified his mindset around money. Most of the things that we’re taught about money is wrong. You’re taught to be an order taker and to finance all your consumer activities. We hear the cliche all the time that time is money, but only people who are not entrepreneurs think that way.

You have to switch your mindset and recognize that the money isn’t in the time, you use your time to set up systems that scale and separating your time from your money. When people ask Paul how he makes money he tells them he doesn’t make money, his money makes him money.

Paul has found his zone of genius is in taking information and breaking it into smaller pieces that allow other people to make transformations in their lives.

Ready Investor One

Real estate investing is a game and Paul teaches listeners how to take the individual approach and how to invest in themselves and in things that pay for their lifestyle. Paul is also a child of the 80’s so the all the references in the book really resonate with him.

Investing in more than money, you should always be investing in yourself. The more you put in to your own skill set, the more you will get out of it.

You also have to develop strong relationships and upgrade your friends. They are probably following the same mindset that doesn’t work, get around other people that are on the same path as you and have some interesting conversations.

Paul’s default behaviour is to spend the first few hours of each day investing in himself and sculpting his internal monologue and the story he tells himself. Reading more and meditation are big components of upgrading yourself. The final piece of the puzzle is exercise, even a little bit of exercise can allow you to be more present in your life.

Paul’s Takeaway

Choose your path, either investing in the stock market, buying property or starting a business. Those are the fundamental three paths to freedom. Then start small with the most fundamental baby steps towards that. Measure one thing only: how many offers you are making. Everything that is in your way is your task. Track for 100 days one step that you are doing consistently. Consistency beats intensity. When you take a step, give yourself a checkmark. If you never miss twice, you will find yourself at a place of abundance in five to ten years.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

Turning The Great Bubble Burst To Your Advantage - Replay

Apr 22, 2019 48:07


Harry Dent is the Founder of Dent Research, Editor of the FREE newsletter Economy & Markets, and the author of the new book The Sale of a Lifetime:  How the Great Bubble Burst of 2017 Can Make You Rich. He received his MBA from Harvard Business School and was a successful consultant to  Fortune 100 companies at Bain & Company.  Harry Dent has also spent much of his career speaking to executives, financial advisors and investors  around the world.

He’s appeared on “Good Morning America,” PBS, CNBC and CNN/FN. He’s been  featured in Barron’s, Investor’s Business Daily, Entrepreneur, Fortune, Success, U.S. News and World  Report, Business Week, The Wall Street Journal, American Demographics and Omni. He is also a regular guest on Fox Business.  


Podcast Highlights


Who is Harry Dent?

Harry started out by working for Fortune 100 companies after college and later went to Harvard Business School which is where he really discovered his true talents of seeing the big picture. thinking on his feet, and being able to argue very well. While consulting, Harry learned nearly everything there is to know about demographics.

What was it that clued you into what you were meant to do?

Harry’s experience in Harvard debating real world business scenarios is where he learned that he was really good at communicating.

Some people know what they want to do when they are 14, and some people like Harry discover what they are meant to do through a series of fortunate accidents.

Leaving Bain & Company was like jumping off a cliff, but entrepreneurs have to take calculated risks on top of having a vision for the future.

Where did you develop the confidence to make the jump?

You have to take risks intelligently. Start your business on the side, and make the transition step by step. Test everything and don’t gamble your whole enterprise on one thing.

What is it about demographics that gets you so excited?

Prior to President Ford, there was no middle class. With the creation of the middle class and the advent of the baby boom, demographics became incredibly important.

Demographics give you an insight into the behaviour of very large groups of people. If you’re taking a risk, you’re going to have a better chance of succeeding if you take that risk on a trend that is growing instead of declining.

Marketing is always the biggest initial challenge of starting a business, not the technology.

What do you think about trends in real estate?

Nursing homes, funeral homes, and hospitals will all see upswings in terms of real estate value.

Harry predicts another big financial crisis coming, but he believes it’s going to be a major opportunities for entrepreneurs.

How can we see bubbles coming and what can we do about them?

You have to have a different strategy for each season. When bubbles occur, they don’t see them because they are getting something for nothing.

Bubbles rise exponentially, come to an explosive climax, followed by a tremendous crash. You can’t keep a bubble going forever. As high as they go, the crash twice as fast. It’s better to get out early, rather than late. When things go down, the opportunities open up at the speed of light.

The businesses that hunker down at the top of the bubble with cash in reserve will find themselves in a solid position to pick up assets at a deep discount.

Where do precious metals come in?

Harry told his clients to get out of gold and silver at the top of the market. Gold is an inflation hedge, but this bubble will be deflationary.

What are the four indicators that you looked at to see the crash?

There was a geopolitical cycle that peaked in 2000 and doesn’t finish until 2020. The second cycle is the generational spending wave which peaks around the world at different times. The third is an innovation cycle that affects productivity which peaks every 45 years like clockwork. The final indicator is a scientific indicator, the sunspot cycle which is now pointing down.

All indicators are pointing down at the same time, the only other time this happened was in the early 70’s and 30’s.

When something happens that doesn’t seem to fit, Harry will dig until he identifies the cycle that’s responsible.

Reference: The Sale of a Lifetime:  How the Great Bubble Burst of 2017 Can Make You Rich, Harry Dent

Harry’s Takeaway

Sell any financial asset that is not strategic to your business or life and create as much cash as possible. The people will ample cash reserves and cash flow will be in the best position to take advantage of the coming crash.



The Sale of a Lifetime:  How the Great Bubble Burst of 2017 Can Make You Rich


Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

Turning The Great Bubble Burst To Your Advantage - Replay

Apr 18, 2019 45:03


Harry Dent is the Founder of Dent Research, Editor of the FREE newsletter Economy & Markets, and the author of the new book The Sale of a Lifetime:  How the Great Bubble Burst of 2017 Can Make You Rich. He received his MBA from Harvard Business School and was a successful consultant to  Fortune 100 companies at Bain & Company.  Harry Dent has also spent much of his career speaking to executives, financial advisors and investors  around the world.

He’s appeared on “Good Morning America,” PBS, CNBC and CNN/FN. He’s been  featured in Barron’s, Investor’s Business Daily, Entrepreneur, Fortune, Success, U.S. News and World  Report, Business Week, The Wall Street Journal, American Demographics and Omni. He is also a regular guest on Fox Business.  


Podcast Highlights

Who is Harry Dent?

Harry started out by working for Fortune 100 companies after college and later went to Harvard Business School which is where he really discovered his true talents of seeing the big picture. thinking on his feet, and being able to argue very well. While consulting, Harry learned nearly everything there is to know about demographics.

What was it that clued you into what you were meant to do?

Harry’s experience in Harvard debating real world business scenarios is where he learned that he was really good at communicating.

Some people know what they want to do when they are 14, and some people like Harry discover what they are meant to do through a series of fortunate accidents.

Leaving Bain & Company was like jumping off a cliff, but entrepreneurs have to take calculated risks on top of having a vision for the future.

Where did you develop the confidence to make the jump?

You have to take risks intelligently. Start your business on the side, and make the transition step by step. Test everything and don’t gamble your whole enterprise on one thing.

What is it about demographics that gets you so excited?

Prior to President Ford, there was no middle class. With the creation of the middle class and the advent of the baby boom, demographics became incredibly important.

Demographics give you an insight into the behaviour of very large groups of people. If you’re taking a risk, you’re going to have a better chance of succeeding if you take that risk on a trend that is growing instead of declining.

Marketing is always the biggest initial challenge of starting a business, not the technology.

What do you think about trends in real estate?

Nursing homes, funeral homes, and hospitals will all see upswings in terms of real estate value.

Harry predicts another big financial crisis coming, but he believes it’s going to be a major opportunities for entrepreneurs.

How can we see bubbles coming and what can we do about them?

You have to have a different strategy for each season. When bubbles occur, they don’t see them because they are getting something for nothing.

Bubbles rise exponentially, come to an explosive climax, followed by a tremendous crash. You can’t keep a bubble going forever. As high as they go, the crash twice as fast. It’s better to get out early, rather than late. When things go down, the opportunities open up at the speed of light.

The businesses that hunker down at the top of the bubble with cash in reserve will find themselves in a solid position to pick up assets at a deep discount.

Where do precious metals come in?

Harry told his clients to get out of gold and silver at the top of the market. Gold is an inflation hedge, but this bubble will be deflationary.

What are the four indicators that you looked at to see the crash?

There was a geopolitical cycle that peaked in 2000 and doesn’t finish until 2020. The second cycle is the generational spending wave which peaks around the world at different times. The third is an innovation cycle that affects productivity which peaks every 45 years like clockwork. The final indicator is a scientific indicator, the sunspot cycle which is now pointing down.

All indicators are pointing down at the same time, the only other time this happened was in the early 70’s and 30’s.

When something happens that doesn’t seem to fit, Harry will dig until he identifies the cycle that’s responsible.

Reference: The Sale of a Lifetime:  How the Great Bubble Burst of 2017 Can Make You Rich, Harry Dent

Harry’s Takeaway

Sell any financial asset that is not strategic to your business or life and create as much cash as possible. The people will ample cash reserves and cash flow will be in the best position to take advantage of the coming crash.




The Sale of a Lifetime:  How the Great Bubble Burst of 2017 Can Make You Rich


Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

Innovation, Marketing, and How to Disrupt Yourself Before Someone Else Does

Apr 15, 2019 43:08


Dr. Simone Ahuja is the principal of Blood Orange, a marketing and strategy advisory boutique with digital media capabilities, and special expertise in innovation. Headquartered in Minneapolis with teams in Mumbai, Blood Orange uses an agile and cost efficient content production framework built upon principles learned through extensive work in India. Dr. Ahuja is the author of Jugaad Innovation: Think Frugal, Be Flexible, Generate Breakthrough Growth and the new book Disrupt-It-Yourself: Eight Ways to Hack a Better Business—Before the Competition Does.



Podcast Highlights


Who is Simone Ahuja?

Simone began in the traditional educational system and was originally in school to become a dentist. After finishing her schooling Simone realized that wasn’t where she wanted to end up and decided to pivot to something else. What she didn’t expect was to be afflicted by a bout of typhoid while travelling in India. By the time she recovered she decided to commit to the things that were calling her instead of just dipping her toes in the water. Simone started exploring film making, theater and comedy, teaching, and writing.


Oddly enough, Simone’s experience in dentistry prepared her quite well to deal with the anxiety of commiting to something like becoming an entrepreneur. Simone didn’t have a lot of support in her decision to walk away from what could have been a profitable career, but it turned out well. In any entrepreneurial endeavor, there will be people who tell you that it can’t be done.


Not having mental barriers and trusting herself to make it happen has been Simone’s super power. Combined with getting sick enough to make her consider her own mortality, Simone had enough motivation to commit to changing her life.


Why Blood Orange and innovation marketing strategy?

When you’re stressed or thinking too much with tension, it’s really hard to get into a flow state. Taking up improv theater taught Simone to relax her mind and enter a flow state, and that’s when things get funny. Around this time in her life, she decided to make a film about what’s changing in India and this lead to her becoming a market expert which drew a lot of attention from Fortune 500 companies. She started formulazing her expertise and made a shift from film maker to market expert and started doing consulting work.

Until Simone started working on the second TV series for Best Buy, she had still been working as a dentist part time. At that point it still felt very risky to walk away from something so reliable. By taking the leap Simone felt more motivated to create a business that sustained itself and added value.

Disrupting Your Business

In larger organizations change is very difficult and innovation takes time. Entrepreneurs have a leg up on older businesses because they are more agile, the trick is figuring out how to maintain that agility as your business grows. Even if you’re fairly small, you have to be willing to adjust your business to your client’s needs.

Entrepreneurs must have a deep sense of purpose, something that goes beyond a mission statement. The Why of what you are doing helps shape all your decisions.

Who is joining you in solving the problem? Don’t make assumptions about what the problem is, bring in the customer to help articulate what the problem actually is.

Be willing to make the necessary changes to your business in order to take it farther. If you’re doing something really different, it’s hard to really have an idea what the outcome will be like.

Stay connected to what you love so the work doesn’t become work anymore.

Why is disrupting ourselves necessary?

There are a lot of big problems that need to be solved. It’s not just big businesses that are going to solve those problems, it’s now the solopreneur and small businesses as well. Technology has enabled small entrepreneurial players to disrupt major industries themselves.

If you ever thought “somebody should do something about that”, you are that somebody. You can leverage the tools and ecosystems that you already have access to solve those problems.

Reference: Disrupt-It-Yourself: Eight Ways to Hack a Better Business—Before the Competition Does, Simone Ahuja

Simone’s Takeaway


All of us have that voice. One of the most important things you can do is find support and like-minded people or communities that can help you. The second thing is to take a little action and do the smallest experiment you can. Find someone you can help and build a low resolution prototype, if they like and grow at least a little bit you continue the experiment. Little experiments carry very little risk and can give you a lot of valuable information to keep moving forward.





Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

Building Systems To Create The Lifestyle You Want

Apr 11, 2019 40:31


Cliff Hayden is a real estate investor, broker-owner of Altec Properties, and founder of ShowMeTheRental.com, a unique online service that automates the most difficult part of property management: finding and screening qualified tenants.

Cliff knows the importance of finding the right balance of priorities in life, especially as a business owner. This quest for a more abundant life inspired Cliff to walk away from his fruitful career and into the often-chaotic world of real estate investing. After quitting his day job to pursue real estate investing as a career, Cliff found himself overwhelmed by the responsibilities of managing multiple properties, keeping the business running smoothly, and finding time for his family. As someone who’s personally struggled with this juggling act, Cliff knows the emotional, mental, and physical toll it can take on real estate investors, property managers, or landlords — whether it’s their full-time career or a side hustle.

This struggle was Cliff’s impetus to develop ShowMeTheRental.com, which screened all his leads so he didn’t have to. ShowMeTheRental.com takes all leads (phone, email, or text) and pre-screens them with customized questions, then arranges for qualified leads to see the home, follows up with these leads, and even takes care of the application process — leaving more time for property managers to work on the things that matter most, like spending quality time with their loved ones or growing their business.


Podcast Highlights

Who is Cliff Hayden?

Cliff Hayden is a happily married man with five kids who is focused on spending as much time with his family as he can. He’s automated the majority of his real estate business and reorganized his priorities so now he’s very mobile and enjoys meeting new people and doing new things.

Cliff started out working a regular job as a construction worker, he transitioned to real estate while he was still working his job. He realized that the corporate life wasn’t everything he thought it would be so he wanted to find a way out. His brother was really into Robert Kiyosaki and when he came back from the military he introduced Cliff to the Cashflow game which was a complete eye opener for him. Cliff joined a real estate club and found a mentor, then he started buying real estate with the money he had saved up. The moment he realized that it was time to quit was when he had earned his entire salary in a fourth month period.

Cliff’s first day as a full time real estate entrepreneur was very exciting. He got into the office earlier than anybody else and left after everyone else. Financially he was doing very well but his family life was suffering due to him not being very present when he was home. Cliff joined a mastermind group and had a major realization that something had to change. He began to focus on building systems and putting them in place to allow him to be mobile and put his life and family first.

Building Systems

It comes down to what you want for your life and what lifestyle you want. When people are on their deathbed, they never say they wished they made more money. The wished they spent more time with their family or did things differently. Cliff decided that building systems was going to be the only way he could achieve the lifestyle he wanted.

Cliff started to educate himself and found that when you don’t have a lot of debt, you don’t need a lot of money. He began to focus on paying off the majority of his houses and avoiding or selling the properties he owned that caused the majority of his headaches.

Once you get to a certain number of houses, you will always have to deal with turnover and issues that come up. Cliff knew that there must be a way to automate the process and started looking for it, when he couldn’t find the solution he was looking for Cliff decided to create it himself. Showmetherental.com was born and is a system that makes finding tenants easy and automatic.

Property managers are key to taking care of the everyday tasks that need to get done. One of the tricks that Cliff has learned is to take a piece of paper and draw a line down the middle of it then list the things you do like to do and the things you don’t like to do, then go out and hire somebody to do the things you don’t like to do.

Finding a property manager can be very difficult because no one is going to care about your property as much as you do but it is essential. The best property manager is going to be yourself.

What are the top 3 questions for screening tenants?

Longevity is Cliff’s number one priority in a tenant. He doesn’t do one year leases, his minimum commitment is three to five years. He wants somebody who is going to stay in the property long term. They should also have a consistent history with their job and an emergency fund set aside in their bank account. Cliff wants tenants that are responsible and if something goes wrong in their life, they have the resources to survive.

Living The Life

Because of how much of his business is automated, Cliff has managed to go on a 40 day RV trip with his family this past summer. He also comes home at 3 o’clock everyday to help them with their homework and spend time with them, and he spends a lot of time teaching them how to have an abundant life.

Cliff’s Takeaway


Anything worthwhile comes with risk, you’re going to fail and you just have to push through it. Persistence and the drive to never quit will serve you well. Once you fail, you’ll realize that it’s not actually all that bad. Have a plan and a vision, join some real estate clubs, and then start building systems that will help you achieve your vision.






Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

Geoff Cook On Going From Idea To Implementation

Apr 8, 2019 47:25


Geoff Cook is the Co-founder & CEO of MeetMe and The Meet Group (NASDAQ: MEET), a social dating and live streaming company with a $400+ million market cap; Geoff has spent $200 million in the last 3 years buying 4 companies, including most recently, Growlr, a dating app for gay bears. Geoff is also the CEO of myYearbook--a social network to meet new people.

Geoff Cook helped raise $20 million and grew myYearbook to profitability with 100+ employees and $30+ million in revenue. Geoff started his first companies EssayEdge and ResumeEdge from a Harvard dorm and sold them to The Thomson Corporation for millions of dollars at age 24. He sold his second company for $100 million. He also runs the leading podcast player, Podcoin, and can drive thousands of listening hours and hundreds of subscribers to podcasts on which he appears.


Podcast Highlights


Who is Geoff Cook?

Geoff is a husband and father in addition to an entrepreneur. He started his entrepreneurial life in school because he didn’t want to get a job making only a few dollars an hour. Before then he didn’t really have any ideas about being an entrepreneur.

Geoff realized that if he wanted to really make some money, selling your time wasn’t going to cut it because it has a linear relationship. You need to create something that isn’t tied directly to your time. He thought that instead of working a regular job, he could create something and potential make nothing, but also potentially make way more money, and at the very least have some fun.

Geoff’s first venture was an attempt to just solve a problem, in his case essay and resume editing. He built a website from scratch and slowly grew his business from $10k a year in his first year in college to over $300k a year by the time he graduated. His second business was the social network myYearbook, within 9 months he had acquired over a million users to the site by leveraging existing platforms like Myspace.

How much did your education contribute to your business success?

In the early days of his first business, Geoff’s education did actually help him figure out what to charge and better tailor the experience to certain people. But it’s hard to draw a straight line from his education to everything that has happened since.

Growing a Business

Geoff runs a public company called the Meet Group which has a heavy focus on live streaming video. The cost to execute live streaming lead to them start acquiring other apps so they could leverage the infrastructure they already had.

In the early days of Myspace and Facebook, creating a viral campaign that acquired email addresses was much easier and very powerful. Today you need to either buy it or build it, in the case of building it you need novelty in order for it to grow. Instead of relying on a lucky strike of a marketing campaign, another strategy to grow is to just buy companies that have already acquired the audience you want to reach.

Why is live streaming such an important tool?

Regular media like photos are very flat, where live video is much more interesting and interactive. The interaction is key and in the next few years, the quality and quantity of live streams available is only going to go up. Live streams are becoming part of many more traditional broadcasts as well.


Live streaming video is a lean in media, it’s very interactive and keeps your attention. Audio is the opposite, most people consume audio media while they are doing other things, it’s more passive. Podcoin was born out of the idea of “what if we paid people to listen to podcasts?” It allows the listener to share in the rewards of the organization that they are directly generating.

The hardest problem is not monetizing a large audience, it’s acquiring them in the first place. By varying the amount of reward, Podcoin can incentivize the listener to discover and consume podcasts that they wouldn’t otherwise have discovered. It’s a way for podcasters to grow their audience.

If you have a sense of what media monetizes at, as long as you stay within certain bounds, you can figure out how to turn an audience into an asset for your business.

Idea to Implementation

To create something worthwhile, it takes a lot of commitment and single mindedness. A talent that is important to have to get something off the ground is the ability to wear a lot of different hats. Geoff’s successful businesses weren’t the first ideas he had, he had to iterate and pivot when he saw the right opportunity.

Feedback is crucial, if you’re not sweating the metrics you’re not going to know what you should be working on at any given time. Patience and data gathering is very important for anything that you build.

Geoff’s Takeaway

The trick is one success helps the next effort be successful as well. You have to get to know the art of the pivot, you have to be able to learn things from your previous failures that you can apply to your next attempt and be willing to change directions. The idea that works out may bear no resemblance to the idea you started out with.



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Leadership Is More Than A Title

Apr 4, 2019 38:38


Rick Miller is an unconventional turnaround specialist, sought-after speaker, servant leader, and expert in driving sustainable growth. For over 30 years, he served as a successful senior executive in roles including President and/or CEO in Fortune 10, Fortune 30, nonprofit, and startup companies, including AT&T Global Services and Lucent Technologies. Throughout his career, he has been recruited from the outside to turn around poor performance in difficult times. His new book, Be Chief: It’s A Choice, Not A Title, helps leaders at all levels achieve their true potential. To learn more, visit



Podcast Highlights


Who is Rick Miller?

Rick was basically raised by his father due to some really unfortunate health circumstances with his mother. Rick’s dad was a personnel guy and he focused on people. Rick father’s help create an environment in his workplace that despite the industry being heavily unionized, there was never even a union vote in 27 years. In a lot of ways, Rick wanted to grow up to be like his dad.


Leadership and Power

Titles or not, everyone has power in their situation.

An element of control and authority comes with a title. Power used to be about centralized decision making at the top of the leadership pyramid, but that’s not the only way it can be done. If power is defined as energy and clarity, everyone can make a choice to have more influence.

When people say corporate, they usually think the old style factories. In many ways the hierarchy was similar to a military leadership structure. The difference now is that speed of execution is paramount and the workers on the front line have more decision making ability than ever.

The challenge of power is that it is never given, it’s always taken. The cost to businesses of people who are not engaged with their job is incredible. If people are waiting for permission to step into their greatness, it’s never going to happen.

If you asked the five people that know you best what they think you stand for, you’re might get a lot of different answers. Take all those answers and figure out what the few vital things are that you want to stand for. Self understanding is the key to power, when you take a stand you develop confidence and you take power.

Leadership Responsibilities

Just because you have a title, that doesn’t mean you get a pass on clarity and confidence and energy. If you’ve got a team, what can you be doing to allow your team to be their best? Are you recognizing the contributions of your team?

You have to select your team members carefully. If you bring on a team member that isn’t aligned with your organization’s values, it can be debilitating to everyone involved.

Communication is the joint construction of meaning. It’s an active process and has to go both ways.

The Interview Process

The only time Rick has gotten in trouble when hiring people is when he rushed the process. It’s important for you to get a feel for how a person will fit into the organization and the people on the team. Give them an opportunity to show all the different sides of themselves.

You want the whole person, not just their game face when they are in the office. Work life balance is the wrong goal. Balance only occurs when your life is still, and it’s almost never still. Work like integration is what you should be working for.

Reference: Be Chief: It’s A Choice, Not A Title, Rick Miller

Rick’s Takeaway


First, go online and take the assessment to find out what kind of power you currently have and the simple choices you could make to be more powerful. Second, read the book Daring Greatly by Brene Brown. Vulnerability is the key to any great conquest and you will be vulnerable when taking a step you’ve never taken. Assess where you are internally and get some help.




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Industrial Real Estate Investing and Building an Empire

Apr 1, 2019 40:01


Welcome Wilson is the Founder & Chairman of the Board of Welcome Group, a privately held real estate development firm that owns ninety manufacturing and other industrial facilities in Texas comprising just over 4 million square feet of space. Wilson is also a principal in Kingham Dalton Wilson, Ltd, a regional industrial construction company. Mr. Wilson has been a real estate developer in Texas for fifty-seven years beginning with his first project in Galveston County, which is now the incorporated City of Jamaica Beach (1,600 home sites). He was also the developer of Tiki Island in Galveston County, now an incorporated City of 1,200 home sites. In total, Mr. Wilson developed 8,000 home sites in four counties in Texas.


Podcast Highlights Who is Welcome Wilson?

Welcome has had six life changing conversations in his life. The first one was with his father when he was 17, just before he was about to join the Army. He told him that in order to succeed in business you need to have guts and determination. The guts to make a pitch for what you believe has been a talent that has served Welcome for many years.

Welcome’s father convinced him that being able to make a pitch was vital to success and taught him how to become self reliant.

Real Estate Empires

Welcome has never met anyone who is an entrepreneur who thought they were rich. Welcome’s company is now worth $77 million dollars, but he knows that there is always somebody who has more money.

You learn from scrambling, so by not inheriting anything in particular Welcome had to do the work to build his real estate investments from scratch.

Some people think real estate is a risky play due to its speculative nature. To protect yourself against potential down times, you should bring on multiple partners, each with different areas of expertise. The important thing to remember is to make sure the partners have enough at stake so success is important to them.

You have many advantages today that weren’t around years ago. Banks are more willing to take a chance on different kinds of deals today than when Welcome got started.

Regardless of how big your business gets, you have to deal with cash flow. When Welcome was running his business years ago, it cost him $20,000 a day to operate the business. You can’t get around the need for cash flow. In many cases, a single long-term committed tenant is better for cash flow than multiple less stable, less reliable tenants.

Industrial Real Estate Investing

Welcome has built nearly every kind of property possible including residential, apartments, and office buildings. Early on in his career, Welcome had the opportunity to buy a few industrial buildings but the caveat was he also had to buy an industrial development business. Once the deal closed, by running the development business and after seeing the cash flow generated, he never looked back. Now industrial real estate investing is Welcome’s main source of business.

Now Welcome focuses entirely on single tenant industrial buildings where the cost of construction is well over $100 per square foot.

Reference: Always Welcome: Nine Decades of Great Friends, Great Times & (Mostly) Great Deals



Always Welcome: Nine Decades of Great Friends, Great Times & (Mostly) Great Deals

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Building An Audience By Building Trust

Mar 28, 2019 43:56


Gregg L. Whitt is the Chief Strategy Officer of Engage Youth Co. and co-author of the insightful new book The Gen Z Frequency: How Brands Tune In and Build Credibility. He was named a "Top 5 Youth Marketer to Follow" by Inc. in 2016 and has also been featured in Forbes and Fortune. Witt is also a VansWorld Champion Amateur Skateboarder who defied critics while growing up in the Midwest and at age 16 launched the Goodtimes Intelligence Agency, a skateboarding and apparel company that became a globally recognized brand.


Podcast Highlights

Who is Gregg Witt?

The moment when Gregg found his identity was when he picked up skateboarding and went down the path to becoming a professional. Skateboarding was his love as well as his connection to a bigger world. Work wasn’t necessarily in the plan for him, work was what Gregg’s busy dad did. He didn’t have an aspirational career goal but he knew he wanted to keep the community of fellow skateboarders connected which is why he started his own skateboard company.

Gregg is someone that likes to problem solve. He has a natural ability to engage youth in a way that connects.

Gregg didn’t start off with a lot of confidence, he was made fun of a lot as a kid and the more people told him that he wasn’t going to be able to make it, the more it drove him to succeed. Even by the fifth year of his business, Gregg was still figuring things out which filled the role of real world university and taught him the ropes that most people never experience. Each lesson and obstacle that Gregg encountered brought him further along the path to what he does now, which is creating youth focused marketing.

Building an Audience

You’re building an audience or you’re risking being a one-hit wonder. Pure convenience and utility have their place, but if you want to build a business you have to focus on building an audience.

The fundamental function of building an audience is to share stories that will increase awareness and break through the noise. A lot of business is done with people who like you. If you’re building a quality audience, you’re establishing trust and there is no industry that doesn’t benefit from having your customers trust you.

You can’t measure that you’re reaching people through the marketing methods of yesterday. You can’t tie television to a conversion at the bottom of the funnel. A mix of integration is required.

What is the purpose of your company and what you’re doing? Who are you and what perception will your market have of you? Authenticity is the foundation to trust, and trust is everything.

When you’ve established an identity that’s relatable and that your audience cares about, now you’re ready for relevance. The most successful brands are helping their customers reach further in an aspirational way.

If the experience you create is memorable and brings people together with sense of belonging, that’s pure magic. It’s hard to create but extremely powerful, it takes a village to execute.

What are the most common mistakes entrepreneurs are making?

We get caught in our head and believe we have a great solution, when we might have missed the mark by not involving our customer in the process. A lot of the big brands still focus on broadcasting. It’s easier to push messages than it is to spark a conversation, which is a common mistake.

Social media is supposed social, don’t treat the feed like inventory.

Reference: The Gen Z Frequency: How Brands Tune In and Build Credibility, Gregg Witt

Gregg’s Takeaway

Anything you do, get really good at communicating your solution. Know the what, the how, and the why, and tie your outcomes to the what and the how. Your audience cares about the why, and if they do and things go wrong you will increase the odds of you being successful.




Gregg Witt on LinkedIn

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The Secret To Happiness

Mar 25, 2019 40:18


Tal Ben-Shahar is the Co-founder of the Wholebeing Institute, the Happiness Studies Academy, and PotentialLife. He's the New York Times bestselling author of Happier: Learn the Secrets to Daily Joy and Lasting Fulfillment, Choose the Life You Want: 101 Ways to Create Your Own Road to Happiness, and the new book Short Cuts to Happiness: Life-Changing Lessons from My Barber.


Podcast Highlights

Who is Tal Ben-Shahar?

Tal was bitten by the happiness spider in college while studying computer science in Harvard. While doing rather well academically and socially he found himself to be quite unhappy, so he decided to switch majors to Philosophy and Psychology to pursue the answers to two questions: “why aren’t I happy?” and “how can I become happier?” He became focused on how he can help himself, individuals, organizations, and nations increase their happiness.

Tal felt that he wouldn’t be able to find the answers he was looking for in code, so he started looking to ancient wisdom from many people in the past. We’re told we should become successful and then we’ll be happy, but that’s something called the Arrival Fallacy. Success will at best give us a short lived spike in happiness, we need to do other things to increase our levels of well being.

The Secret to Happiness

Happiness is tough to define but we know it when we feel it. You can tell when you are going through good times and bad times. It’s also important to differentiate between happiness and pleasure, because they are not the same thing.

Meaning and purpose are major components of happiness, but they aren’t the whole picture. There is no one secret to happiness. You can feel committed and driven, but still be generally unhappy. Physical wellbeing, curiosity, as well as emotional and interpersonal wellbeing.

Striving towards happiness is no different than other goals, you have to put in the work and invest in the effort. The journey can also be as fulfilling as the destination. You have to strive for something that is meaningful to you, that you can also enjoy the journey of getting there.

What do you mean by the levels of happiness?

When someone asks Tal if he’s happy, his answer is “I don’t know.” He can say he’s happier than he was in the past, but happiness is a journey that ends when life does. We can always strive for more, but we have to accept that there are ups and downs.

One of the first lessons that Tal learned is that he first step is to allow yourself to feel unhappy and embrace the negative experiences that are inevitable in life. Don’t compare yourself to an unattainable, unrealistic ideal. When you accept negative emotions and difficulties, you open yourself up to happiness. When you reject negative emotions, they intensify. Taking action when faced with difficulties is the only viable next step.

Engaging in things that are meaningful and relationships are the other major components of happiness. Spending time with people that you care about and that care about you is the best predictor of overall happiness and wellbeing.

What are the things that are preventing entrepreneurs from being happy?

The first question for an entrepreneur should be “what is most meaningful to me?” rather than “what will make me the most money?”

Learn to fail, or fail to learn. The most successful entrepreneurs are those that have failed many times and learned from each of those failures. It’s easy to see the successes, but the failures are more valuable.

Is there a system to attain happiness?

Write down things for which you are grateful and focus on the progress that you’ve made. When you do that, your job satisfaction increases and you become more successful.

When you appreciate the good, the good appreciates. Enjoy the progress, not just the outcomes but allow your ambition guide to towards more growth.

You will have to learn to accept the fact that you will never arrive. Small changes can make immense differences in your overall levels of happiness. Try to be 1% better than you were yesterday. There will be very few days that will create major changes in your business, it’s about incremental improvement and steady progress.

Reference: Short Cuts to Happiness: Life-Changing Lessons from My Barber, Tal Ben-Shahar

Tal’s Takeaway

Commit in the next 72 to 120 hours to change through consistency and ritual action. Introduce new rituals into your life like gratitude and exercise in small doses. It doesn’t have to be radical change, make small changes consistently and that is what will shift the needle.




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Trustwork: The Future of Work

Mar 21, 2019 43:45


Peter Rex is the Founder of InvestRes and Founder & CEO of Trustwork. InvestRes has purchased 17,000 units throughout Florida, Texas, Arizona, and Colorado, maintains $1.5B+ in assets under management, and has consistently beaten the Preqin Top Quartile in returns. InvestRes is a vertically integrated company, handling acquisitions, property management, construction management and portfolio management in-house. Trustwork is a technology business driven to empower the global workforce and recreate the world’s economy. Trustwork’s initial focus is on recreating the “old economy” industries of real estate and construction, but will eventually empower every person in the global workforce.


Podcast Highlights

Who is Peter Rex?

In developing the plan for Trustwork, Peter had visited over 85 countries and gained a Law degree from Harvard. Before even that, Peter is naturally rebellious, service driven, and self motivated. Being rebellious didn’t work out very well when Peter was younger, but it served him well as an entrepreneur later in life. Surprisingly, starting a business was a last resort for Peter. It wasn’t part of the plan when Peter was in school but it turned out well.

Peter’s rebellious nature lead him to look at things differently, especially when people around him see things another way. Peter spent a few weeks at a Christian monastery when he was younger and during that time he felt like he was being called to business, it was more of a pull than a push.

Technology and Trustwork

Peter used to do a lot of construction work when he was younger, and that gave him a great understanding of the construction industry and how things worked. He leveraged his leadership skills and love of reading and learning to start and grow his business. After a few years in the real estate space, Peter felt like there was a bigger idea on the horizon, which was some sort of entrepreneurship platform.

The obstacles in your life are challenges, you can falter or you can overcome them. Peter’s experience travelling the world taught him a lot about how people operate in different countries. You have to play the game with your talents, when you do that you can’t be beaten.

Trustwork is an international entrepreneurship platform build on the experiences and notes that Peter took while travelling the world. When it comes to owning property, one of the hardest things you can do is find trustworthy contractors that you can rely. Owning property is one thing, turning it into a profitable asset is something completely different.

The real estate industry is very feast or famine, when you need to get something done, that’s usually the time that everyone else needs to get something done too. Trustwork solves this issue by creating a platform for entrepreneurs and property owners to connect with people to get their jobs done. It creates transparency for everybody involved.

Trustwork is the future of work.

Peter’s Takeaway

There are going to be negative people around you no matter, tell the pessimistic people to check themselves and draw a line. Those types of people are only going to distance themselves from you. Other people may be telling you that they believe in you but not in your idea, listen to their concerns and figure out ways to overcome those obstacles. You should assess yourself realistically and use your friend’s perspectives for this. Don’t run away from who you are by trying to become better in an area that you’re weak at just hire people who make up for your weaknesses. Find out where your strengths are and structure the game to play to those strengths. Play in an area that love to do.





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Live True With Mindfulness and Authenticity

Mar 18, 2019 43:41


Ora Nadrich is the Founder & President of The Institute for Transformational Thinking and bestselling author of Live True: A Mindfulness Guide to Authenticity. Ora is a frequent blogger for the Huffington Post, and has been featured as a panelist on Huffington Post Live. She's written many articles on Mindfulness, and can be found on Yahoo Health, YouBeauty, Conscious2, MindBodyGreen, and many other publications. She leads workshops on "The Says Who? Method", a step-by-step process of confronting our negative thoughts, which are what often create the obstacles in our lives. Ora was an actress and screenwriter, where she worked in film, episodic television, and commercials for more than a decade, which she feels provided her vast experience in exploring motivation and the process of self-discovery.


Podcast Highlights

Who is Ora Nadrich?

Ora likes to say “a vision always starts in the mind with a single thought.” She considers herself a visionary, as someone who wants to manifest the vision in her mind. When Ora’s sister became afflicted with mental illness that completely changed the way Ora looked at life. Being an actress was no longer what she felt like she was meant to do. She found that some of the most difficult times in life can be a gift that will lead you to understand more about yourself.

Where did you get the courage to make the switch and Live True?

This is a question of Nature vs. Nurture. Many people have come from terrible situations and achieved great things. There is usually a moment, a distinct event that defines you.

The thing that drives Ora is something that she teaches to other people. Ora wakes up each day with gratitude and presence. Be in the moment of now and think about what you want that moment to be. You are the creator and master of your internal dialogue which will create your reality.

Overcoming Self Doubt

Energy goes where energy flows. We start to believe the thoughts that we tell ourselves and often get attached to thoughts that keep us back.

If someone came up to you and told a bunch of negative things, would you outright believe them? Probably not, but when we do it to ourselves we do. Take one negative thought you have and write it down, crumple it up and throw it away. Then write down its positive counterpart. You have to be diligent and committed to switching out your negative thoughts that don’t serve you for positive ones that do.

Staying In The Present

We are bombarded more than ever before, you need to make an effort to pause and work with the voices in your own head. The number one anchor in meditation is to focus on your own breath. Being in the present means you are showing up and what of yourself do you want to bring with you?

If you want to get in shape without exercising, you’re kidding yourself. If you want to be present in your life, you have to do the work.

How do we reconcile mindfulness and authenticity?

Ask yourself what feels inauthentic to you. If you are an entrepreneur just getting started, you are probably under a lot of pressure to put up an image of success that you may not have had yet. But real is good, being vulnerable is okay.

Give yourself credit for what you’ve done. Wake up in the morning and get your thoughts on straight. Think thoughts that support and encourage what you want to achieve.

Entrepreneurs are the visionaries of the future. They will change the future. Ora shares her ideas of thought transformation because she knows they can change the way people think and that can change the world. Changing your thoughts is one of the most powerful things you can do.

How do you deal with the stigma around mindfulness?

Everybody has the ability to be present. Meditation and mindfulness used to be considered woo woo but not so much anymore. Mindfulness allows you to discipline your mind and become more aware and focused on what matters, which is especially possible in this age of distractions.

Some of the top athletes today meditate to achieve their levels of peak performance.

Reference: Live True: A Mindfulness Guide to Authenticity, Ora Nadrich

Ora’s Takeaway

Make sure that your thoughts are supporting your vision. Any thoughts that get in the way, answer them back and replace them. You have the ability to replace any doubt or fear based thought that appears in your mind. You can reach your goal if change and transform your negative thoughts to positive ones.




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Effective Communication And Overcoming The Fear of Public Speaking

Mar 14, 2019 39:35


Diane DiResta is the founder and CEO of DiResta Communications, Inc, a New York City-based communications skills consultancy serving business leaders who want to communicate with greater impact, whether one-to-one, in front of a crowd, or from an electronic platform. DiResta is the author of the book Give Fear the Finger: How to Knock Out Fear of Public Speaking and Knockout Presentations: How to Deliver Your Message with Power, Punch, and Pizzazz, a widely used text in college business communication courses.


Podcast Highlights

Who is Diane DiResta?

Diane is a connector, truth seeker, and lifelong learner. She grew up in a military family so she moved around a lot during her childhood, that’s where she found her love of foreign cultures and developed an attitude of adaptability. Her first career was as a speech pathologist after graduating from Columbia, but she was too ambitious for the opportunities available in that position so she switched careers to giving public speaking training for a consulting company.

After working in various businesses and industries, Diane realized that she loved the job but didn’t like the culture of Wall Street. She realized that the reason people don’t fit is not because of a skills mismatch but because of a culture issue. She kept searching for the right position while freelancing for a couple of years and came to realize, with the help of her husband, that she wanted to have control of her own work and didn’t actually want another job. Now she takes good speakers and turns them into great speakers and nervous speakers and make them confident speakers.

Even as a child, Diane was always correcting people’s speech. Her first love was English and teaching, but that wasn’t really an option for her at the time, which is why she ended up in the field of speech pathology.

Effective Communication

Every master was once a disaster. Diane wasn’t always a professional speaker. Gifted speakers are born, but effective speakers are made. Her first exposure to public speaking was in college and she was not a natural stand out, but she still managed a ‘B’ in the class. She knows what it takes to go from an average person who’s anxious about public speaking to someone who trains professional speakers for a living.

Speaking is a skill, anyone can be effective at conveying a message. The language of confidence combined with your stories and background is the art of effective communication.

What’s the difference between verbal and vocal?

Vocal is your tone, verbal is your language. The message is in the tone, not in your words. When it comes to language wimpy words will undermine your ability to sell or persuade someone.

When you use weak words, you are communicating that you’re not confident in your statements or position. Don’t suggest, recommend. The confused mind says no. Use more definitive powerful words and hold your ground. Once people learn the skills of executive presence, they take off.

Mindset and Skill Set

The first stage is to address your limiting beliefs. You’re not confident because you don’t believe in yourself. The second stage is recovery strategies. What is your worst nightmare and how would you recover from it? Understanding that helps develop the skill set you need for effective communication.

Speaking is not a soft skill. You have to understand who you are in front of the person that you’re communicating with. Can you think of anything that happens in the absence of communication? You’re not going to get funding from a VC without being able to communicate effectively.

The stock market is psychology, fear and confidence at the basic level. Communicating with analysts effectively can have a massive ROI and impact on your company’s stock price. Speaking and communication has dollar bottom line results directly associated with it. Speaking and effective communication is the ultimate competitive advantage, you have to up your game, sound like a leader, and convince people.

Why do people have such a difficulty with public speaking?

The common thread for most people who are afraid of public speaking is the fear of humiliation. You have to reprogram your thinking and work on recovery strategies to get past the fear. When you can laugh at your mistakes and move on, that’s how you convey gravitas and leadership.

Reference: Knockout Presentations: How to Deliver Your Message with Power, Punch, and Pizzazz, Diane DiResta

Diane’s Takeaway


Be very intentional, know what you want and where you want to go. Buy the book Knockout Presentations or higher a coach. If you don’t have any money to start with join Toastmasters as a way to get your speaking legs and test your skills in front of a low risk audience. Everyone has to learn and practice the fundamental skills before they can become great.



Knockout Presentations


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How to Grow Your Influence and Impact

Mar 11, 2019 42:40


Michelle Tillis Lederman is the CEO of Executive Essentials and bestselling author of The 11 Laws of Likability: Relationship Networking. Because People Do Business with People They Like and the new book The Connector’s Advantage: 7 Mindsets to Grow Your Influence and Impact. She has worked with clients ranging from government to academia to non-profit to Fortune 500 companies, including Madison Square Garden, Citi, Johnson & Johnson, Ernst & Young, Michigan State University, Sony, and The Department of Environmental Protection. She has been featured on CBS and MSNBC, and in the NY Times, Forbes and Working Mother magazine.


Podcast Highlights


Who is Michelle Tillis Lederman?

Michelle describes herself as a petite powerhouse. She grew up as a have-not, not that she was poor but her family knew what it was it like to struggle on the lower end of the financial spectrum. All she dreamed about as a child was financial security which directly influenced her choices later in life.


Michelle originally started out as an accountant because she was good with numbers and thought that would fulfill her desire for financial security. It didn’t work out very well so she explored other similar positions looking for the right fit and purpose. After finding herself as the only woman on a global venture capital team, she realized that communication in that industry was terrible. She began to explore the idea of effective communication and one of the first trainings she ever taught was how to give effective feedback.


You need to recognize in yourself what you really want to do and believe that you can do it. You have to own it and then go make it happen. Michelle wasn’t necessarily seeking her current career but she was open to learning more. Be open to those moments wherever you are.


You have to design your ideal. If you’re questioning whether or not someone will pay you for something you are considering offering, ask yourself why they need it and how can you tie it to their bottom line.

Providing Effective Feedback


You cannot make anybody like you. Once you accept that, you can enable them to see what is likable about you. It’s not about who you are in isolation, but who you are in relation to who you are trying to connect with.

When you have information to give to somebody that they might not take well, you should start the conversation with “Are you open to…” By saying yes, they put themselves into a position to open themselves up for the information that’s coming, even if the feedback is negative.

Connecting, Influence, and Mindset

There is an advantage to being a better connector, it makes things faster, easier, better. If you’re trying to grow your business, you’re going to do it better if you’re a connector. That means connecting with other people and helping other connect as well.

There are seven mindsets of a connector: open and accepting, they have a clear vision, believe in abundance, they trust, they are social and curious, they are conscientious, and they have a generous spirit.

The mindset of abundance may be one of the most difficult of mindsets. Reputational and competitive risk is always something to overcome because they come from a mindset of scarcity, which is very common for most people in society.

Having a clear vision is another common challenge for many people. How can you make something faster, easier, or better without knowing what that looks like?

When you ask for something, you don’t want the possibility of someone saying no putting the relationship at risk. You have to trust that what you give will eventually come back and that the spirit of generosity is in the other person.

Connectors follow up and follow through, so they don’t say yes to the things they can actually do.

These concepts can definitely be taught. They didn’t come naturally to Michelle but she evolved and grew as a person and an entrepreneur. You can’t outearn your personal growth, continuous learning and improvement are very important.

Reference: The Connector’s Advantage: 7 Mindsets to Grow Your Influence and Impact, Michelle Tillis Lederman

Michelle’s Takeaway

Be your own best friend. You believe your own stories, be the friend that would tell you the things that you need to hear to believe in yourself. Pick three people, pick someone you want to strengthen a relationship with, someone you want to connect with but haven’t yet, and one other of your choice. Find a reason to reach out and start talking. Be social and curious, look for opportunities to add value, and share your vision and what you’re working on. When we share we tap into other people’s vision and desires and you can never know where a conversation like that will take you.





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The Company of One and Scaling Without Growth

Mar 7, 2019 44:15


Paul Jarvis is the bestselling author of Everything I Know and the new book Company of One: Why Staying Small Is the Next Big Thing for Business. He is a veteran of the online tech world, and over the years has had such corporate clients as Microsoft, Yahoo, Mercedes-Benz, Warner Music and athletes like Warren Sapp, Steve Nash and Shaquille O’Neal. He’s founded several start-ups, toured the US and Canada in the band Mojave, and has worked as a web designer for almost two decades. Paul’s writing appears in Fast Company, 99u, The Next Web, GOOD, Elephant Journal, Design Taxi, Medium.com and many other publications. With an international reputation as the designer whose vision and web design strategy builds multi-million dollar businesses, he teaches online courses, runs several software businesses, and hosts a handful of podcasts from his home on an island on the West Coast of Canada.


Podcast Highlights

Who is Paul Jarvis?

One of Paul’s favorite quotes is from Uncle Ben, the iconic “with great power comes great responsibility.” Paul has always been interested in the relationship between technology and people which is why when the internet started he realized there was an incredible opportunity available.

When Paul started out he was doing web design and he did that for 15 years. He loved working with the clients but not so much working for the agency, so he decided to leave but the clients sought him out and wanted to keep with Paul no matter where he went. This lead him to realize that he could just work directly with those clients and could just start a business instead.

Where did you get the courage to venture out on your own?

Having a client list was a big help but being focused on fostering the relationships in the first place was very important. It wasn’t just courage, Paul felt the fear but he acted anyway.

Paul wanted to be in control of the relationships that he had with his clients so freelancing was really his best option and that’s what drove him to go out on his own.

Paul is generally a little contrarian so he’s always done things a little differently.

Company of One

A company of one doesn’t necessarily mean literally one person, it’s more about challenging the idea that growth is always good. People assume that the byproduct of business success is always getting bigger, Paul thinks the byproduct of success is more about getting to choose where and how you work and where you want to get bigger.

Growth can make sense, but it doesn’t have to.

A lot of people start their own business because they want freedom. They also tend to focus on the what if questions around failure but forget about the questions of what if their succeeds? Entrepreneurs should be able to make decisions about how to spend their day and the work they do.

There are two stages to business, pre-enough and post-enough. In the first stage you take the work you can get because you have to. Once you have enough, you have more choices than you think you do. You can make choices in your business that line up with your values.

It’s more important to focus to the results than the traditional methodology of how to achieve those results, especially in the age of the internet.

Scale Without Growth

Paul can reach 30,000+ people with the click of a button. Technology enables you reach people and scale a business without hiring more people. Adding more people is the easiest solution but not necessarily the best one.

It’s possible to build a business that has collaborative freelancers on the team instead of employees.

Whenever starting a business, Paul asks the question of “how would this cost to support and maintain?” If it’s too much, he won’t pursue that business. The trick to figure out at what size does a business have to be to be profitable. It’s important to figure out how to be profitable without crazy amounts of volume.

You can run into issues when your business outpaces profit with growth. Profitability creates durability.

Some people love managing, if you’re building on growth it is possible to add team members and still achieve your goals of freedom and lifestyle.

Reference: Company of One: Why Staying Small Is the Next Big Thing for Business, Paul Jarvis

Paul’s Takeaway

Start to think about how you can make money tomorrow. Momentum is huge, people stall on their dreams because they don’t see progress. What can you do tomorrow that can make a difference for somebody that they would be willing to pay you for? Confidence comes from experience and every client will make you more valuable to the next person.



Company of One book


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Boosting Your Creativity With Innovation Engineering

Mar 4, 2019 48:24


Doug Hall is Founder of the Eureka! Ranch, the Innovation Engineering Institute, and Brain Brew Custom Whisk(e)y. He is the author of the bestselling book Jump Start Your Business Brain: Scientific Ideas and Advice That Will Immediately Double Your Business Success Rate and the new book Driving Eureka! Problem Solving with Data Driven Methods & the Innovation Engineering System. Hall has been named one of America’s top innovation experts by Inc.magazine, The Wall Street Journal, Dateline NBC, CNBC, CIO Magazine and the CBC. His Innovation Engineering system is responsible for over $16 billion in growth and system improvements projects in active development. He is an inventor, researcher, educator and craft whiskey maker.


Podcast Highlights

Who is Doug Hall?

Doug is a compulsive experimenter, he measures the results and then innovates based on the results. Doug is just a curious guy. He started his first business at the age of 12 just to see if he could do it. Everything he has done is driven by genuine curiosity. When he tried something to make money, it always failed, but when he approached things from a point of curiosity it always worked much better.

Creativity Systems

Doug has measured over 9000 teams in an effort to learn what allows people to create more meaningful ideas.

The first thing is stimulus, people think that to get good ideas they need to sit in an empty room and the ideas will come, but that’s the last thing you should do. You create a system of gathering stimulus together to get your mind to react off of and create new ideas.

The second thing is diversity in view points. When you combine people with diverse perspectives that trust each other, you get an exponential effect on the creativity of the group.

The third thing is fear. Fear is the creativity killer so trust is very important, the key to driving out fear is to use data to build your confidence.

Big corporations are usually more interested in getting a big idea given to them than having their team taught how to generate big ideas. We don’t believe in our people and we have to believe in our people to create great things. A team can’t win with just one all star. People are typically hired because they are innovative and creative but then they are told to just do what they are told.

As a leader, it’s your job to set the vision and then give your team the training and tools to do the job.

Innovation Engineering and Inventing New Things

Doug made the conscious decision to become an inventor. He ended up working a Proctor and Gamble for ten years in an inventing centered role and set a lot of records at the company. Doug’s rule is simple, every six months ask yourself the question “am I smarter now than I was before?” If not, it’s time to move on.

After getting fed up seeing ideas get killed by the corporate bureaucracy, Doug went into academia and created Innovative Engineering programs that have gone on to teach 35,000 people how to create better ideas.

When ideas go into the development system in most organizations they will lose half their value because people will compromise. Ideas get killed as they go through the bureaucracy because the teams are fighting each other instead of working together. Being data driven is the solution to driving out fear.

So much of our society teaches kids that they aren’t or can’t be creative. There are a lot of habits that need to be unlearned if you want to innovate.

Reference: Driving Eureka! Problem Solving with Data Driven Methods & the Innovation Engineering System, Doug Hall

Doug’s Takeaway

The first truth is your idea stinks, but if you have the mindset of never ending continuous improvement of that idea you are guaranteed success. You just don’t know how many cycles of learning you’ll have to do so you have to have the ammunition to make it through. All ideas stink at the front end. Find ways to experiment and drive the risk out. All ideas that became something go through a lot of iterations first. If you have the mindset of never ending improvement you can’t lose.




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Build Your Real Estate Investing Team With Bob Lachance

Feb 28, 2019 36:34


Bob Lachance has been an active business owner and real estate investor since 2004. Bob is an entrepreneur by nature and currently owns, operates and manages many different businesses around the world. Bob helped create one of the top Real Estate Coaching and Mentor programs in existence today and also created one of the premiere Virtual Assistant Staffing companies, REVA Global LLC. Bob is an expert in the real estate investing space and has an incredible reputation for creation, implementation and execution.

Bob Lachance is a sought-after mentor and industry expert, lending his voice to countless real estate investors, startups and entrepreneurs looking to take their businesses to the next level. Prior to getting into the business sector, Bob had a successful 8 year professional ice hockey career which allowed him the privilege of traveling and living all over the United States and Europe. Bob was also a member of the 1995 National Championship Boston University Ice Hockey Team.


Podcast Highlights

Who is Bob Lachance?

Bob is definitely not a Harvard grad but he would say he is a coach. He’s played pretty much every single sport in addition to hockey and in each instance Bob’s father was the coach where his coaching style was to coach each child the same way. His motto was “each kid is going to get as good as they are going to get, not as good as their parents wanted them to get.”

As much time, energy, and effort as you put into something will determine how good you’re going to get. Bob was born to coach and help people.

Why was real estate the thing for you after hockey?

Bob went to Boston University on a full scholarship but when you get something like education for free, you tend not to take advantage of it. After choosing to play for the St. Louis Blues instead of completing his education, Bob didn’t have much to fall back. After searching the internet for careers that didn’t require a degree to get into and real estate kept coming up, he decided to jump in with both feet.

At the time of Bob’s first purchase, he was missing a lot of resources and knowledge but he figured it out as he went along.

Goal setting plays a major part in your success. Setting small goals and attaining them will give you the fuel to keep going. If you want to really accomplish something you have to give it your full effort and stop listening to the naysayers.

The 2008 recession was the perfect example as to why passive income is so important.

What’s your favorite part of investing in real estate?

When Bob started he had no systems or processes to keep attaining his goals. He knew he needed to create those things so he started looking for a team to join. Bob believes that you are only as good as your team.

After running a number of short sale transactions, Bob and his partner started looking for what they can add to help more investors become successful. This drive lead to Bob’s many coaching programs as well as his virtual assistant company.

REVA Global

Real estate is essentially a very simple process that has five steps: Marketing, Lead Intake, Deal Analysis, Offers and Contracts, and Selling the Property. REVA Global trains virtual assistants to take different tasks off your plate.

The top tasks for REVA VA’s in short term rentals are managing the CRM and coordinating maintenance. Minor repairs can take up a crazy amount of time out of your day and a VA can take care of all of that for you.


Problem solving is the ultimate skill. There is a million dollar business no matter where you go. In the end it’s about filling a need.

Coaching and the communication behind it has been a very important skill set that Bob has transferred over from hockey.

Bob’s Takeaway

Get educated in what you want to do. Education and mentoring are the first things that Bob would do. Take a course and then implement it. Learn it, live it, gift it.





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Avoiding The Doom Loop With Lucid Meetings

Feb 25, 2019 46:02


ELISE KEITH is the founder and Meeting Maven for Lucid Meetings. She leads their research, publication, and product management efforts, constantly seeking the best ways to make it easy for people to enjoy meetings that get work done. Leaders call her blog "a treasure trove of valuable info and guidance" and "a game-changer for our organization."

When she isn't working on the industry-leading Lucid Meetings software platform, Elise shares her meeting expertise in presentations that audiences say are “inspiring,” “full of practical methods we can apply,” and “fill in all the gaps I didn't even know I had!” With a combination of experiences that gives her a unique perspective on meetings, Elise brings the awareness of a business owner, a software developer, a service provider, a researcher, and person who doesn’t like to have her time wasted, all combined with a deep expertise in meeting practice.


Podcast Highlights


Who is Elise Keith?

Elise graduated college with a degree in theater, so that make her a creative that loves meetings. She ended up going into technology instead and found herself working for companies that believed they were going to change the world. She saw people spending a lot of time in meetings generally being unhappy to be there, but eventually during the course of her career she saw the missing link that those companies were missing.


What if I don’t like meetings?

We have a negative association with the word ‘meeting’ as a society and that usually leads to a self fulfilling prophecy. If you think meetings are a waste of time, you aren’t going to put a lot of time in making it better. Our belief informs our action. The place to start is to change the belief.

Meetings at a company that cares about what they are doing, where the goal is to align and recreate the kind of culture they want to live, is a complete game-changer.

One of the keys to breaking the Doom Loop is to stop calling them meetings.

What does a good meeting feel like?

At a certain point in your organization you can no longer grow with just individual conversations. You need a formal meeting system to find solutions to the problems you’re facing.

Create a greeting ritual that communicates who you are and what you care about. A meeting is your moment to design what it means to be part of your company.

The icebreaker is a great ritual to open a meeting with. An icebreaker is a chance to be human and connect that way for just a few minutes.

You must have structure, but that doesn’t mean an agenda. Go over your numbers so you can keep score and help your team understand their contributions to the overall goals. Take the rest of the time and look at the top 3 problems you’re facing and figure out how you’re going to solve them.

Find a structure that works for you and then use week after week. Use one hour to learn a new meeting structure and save hours by not having to meet people one on one after your initial meeting.

Lucid Meetings

Education is a major component to the Lucid Meetings service. Meetings are a part of the business operating system, and communicating that is a big focus.

Only 20% of managers in the US get any sort of meeting training. You are designing the system of how your business is going to run. When you stand in front of the group you are marketing your vision of what it means to be a part of that group.

Meetings are teachable skills and the businesses that are thriving run really solid meetings. Bridgewater Associates, Pixar, Amazon, Oprah, and elite military teams like the Wildlands Firefighters have excellent meeting systems in place. Without it they wouldn’t be able to do what they do.

To move forward, you have to accept that this is an opportunity, not a burden. After that perspective shift it gets much easier.

Elise’s Takeaway


Find your story, find your why and tell that story to yourself so you can tell it to your team. Get your team involved in the experiment. You’re not going to get it right the first time, keep tweaking. The key thing about a meeting is that it’s not something that anybody ever does alone. Let them help you and suggest the ideas, you don’t have to do this alone.




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A New Kind of Leadership

Feb 21, 2019 50:27


James Arthur Ray is considered one of the world’s foremost leadership and performance advisors, coaches and consultants. He began his career consulting with C-Level Executives at the AT&T School of Business. It was here that he realized his purpose for helping others find their unique gifts, and then leveraging them to take their life and business to new levels. His extensive study of behavioral sciences, experience as an entrepreneur, and tireless quest for spiritual knowledge gives him a unique and powerful ability to address issues in both life and business from an integrated level; much deeper and more fulfilling than most can accomplish.

His company hit The Inc. 500 in 2009 as one of the fastest growing privately held companies in the United States. James was featured in the film documentary “The

Secret,” a ground-breaking feature-length film, and New York Times bestseller. James has been interviewed in numerous national media outlets including a full-feature article in Fortune Magazine, People Magazine, Larry King Live, Piers Morgan, the Today Show, CNN and Oprah.

He is the author of the New York Times Bestseller Harmonic Wealth: The Secret to Attracting the Life You Want which focuses on his principle of Going Three For Three:

how to effectively bring your thoughts, feelings and actions into harmony with bold application. James states vision without bold action is a total waste of time. James’ new book Redemption: The Price of Leadership in Both Life and Business is scheduled to be

released in 2018.


Podcast Highlights


Who is James Arthur Ray?

James is the dark knight of leadership performance. He didn’t grow up in a wealthy family though. He was a skinny, scrawny, awkward kid that got bullied in school. James father was a dynamic speaker and Protestant minister which contrasted quite a bit with James personality.

Early on in James’s life, he had many questions about life and the way things work which lead to him studying a variety of topics including business, philosophy, psychology, biology, and even quantum physics. He started looking for ways to synthesize the common threads between all these very different areas of knowledge. 



We live in very disruptive times, AI is on the rise and the fact is if you are not doing something unique and accessing your full human potential you’re going to be left behind.

Leadership isn’t a title or position, that’s positional power. It’s also not the number of social media followers you have. Leadership is first and foremost about leading your own life. Self awareness is the number one necessity in today’s world in leadership and entrepreneurship.

There shouldn’t be a dividing line between life and business. Most people who preach balance aren’t actually balanced in their lives.

Balance and Wealth

Most people think wealth means money, but the root definition of the term means well-being. For every person is successful, 20 people attempt and are not successful. We’re in a technology and psychologically disruptive world.

In perfect balance nothing happens. Noone is in perfect balance. Life balance is one of the greatest causes of suffering in the entrepreneurial world. You have to be able to put attention to the five pillars of success in everyday life and put them into harmony, not balance. These pillars are Financial, Relational, Mental, Physical, and Spiritual.

There will be times when finances are tight. If you’re shooting for balance you’re going to feel depressed and guilty, but the fact is you’re going to have to realize that you need to hustle and let some other aspects of your life take a back seat. Don’t totally neglect the other areas but you have to focus.

Balance as it’s perceived is not achievable, harmony is. Sometimes you have to lead with your spiritual or financial pillar but you can’t neglect the others completely. When you forget about the other pillars in favour of just one, that’s when you break.

What is this different type of leadership?

A lot of entrepreneurs believe they don’t have time to work out, but the truth is they don’t have the time to not work out. You are going to need a tremendous amount of energy to realize your vision. Exercise is vital to maintaining your ability to perform so you need to schedule it everyday and commit to it just like you would a meeting.

It takes a long time and a lot of energy to create something great. Your diet, mental health, physical strength, and power have to be maintained. Working out and eating right is not a luxury, it’s part of your job. If you don’t take care of yourself, life will make you take care of yourself.

In a disruptive world, entrepreneurs have to make time to keep themselves healthy. Every year you live healthily, science is giving you another year to live healthily. Longevity and immortality and almost a reality, but it won’t matter if you don’t take care of yourself now.

It’s not that it’s not possible, it’s that you’re not thinking in a way that makes it possible.

All the highest performers in the world have rituals and schedules they go by and stick very strictly. James’s Prime Objective is to take care of himself first and then attend to the rest of the day. James gets up at 3:45 am because that’s when there is no distraction and an opportunity to get in the flow state.

The average person spends 50% of their time in distraction, this is why most people won’t even scratch their potential.

To become a new leader you need to use new strategies. Always look at the value instead of the price. The value of the things James is talking about is way higher than the price. In entrepreneurial language, there is a high ROI on staying physically and psychologically strong.

Reference: Harmonic Wealth: The Secret to Attracting the Life You Want, James Arthur Ray

James’s Takeaway


Never leave the site of setting an intention or goal without taking some kind of action within 24 hours. When you learn to structure your day accordingly, you have a lot more time and energy and less guilt about the things you’re not doing. Schedule your day in blocks and don’t let distractions eat your day. Design your day and then begin to implement.




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Community Based Car Sharing With Envoy

Feb 18, 2019 45:16


Ori is a serial entrepreneur with extensive experience in developing high growth businesses. He is responsible for leading the vision, strategy, and growth for Envoy, as the company continues to build out a robust global infrastructure. With nearly 2 decades of experience driving successful entrepreneurial ventures, including Smart IL and Lenn Ventures, Ori has a vast knowledge of various facets of business including new business incubation, venture investing activities, project management and business development. Over the past 10 years, Ori shifted his focus towards real estate related investments, including acquisition and operations, as well as actively initiating technology related ventures in the US market.

Podcast Highlights


Who is Ori Sagie?

Ori believes that what entrepreneurs true heroes is the time and sacrifice they have to make to achieve their goals. Ori was born is Israel and has always been focused on the why of success. Why you want to do it and why people need it is the essence of the success of every venture.


Looking at what people are doing to solve their problems is a way to figure out what solutions to work on.


Is it still a sacrifice if you’re not aware you’re doing it?

It’s always a sacrifice, there is always an opportunity cost to what you do. You have to understand your skillset and what you are willing to give up in order to reach your goal. You may want to be a tech entrepreneur, but maybe you’re a great singer.

Sacrifice is about giving up something good for something better.

Ori and his partner Eric have worked together for a long time, the development of their business is due to their evolution as people and observing the market. They realized that mobility is an amenity and a need for many people that needed a solution, which is where the idea for Envoy began.

Time to market is the most critical thing for the success of an entrepreneur.

Real Estate

When you assess the market correctly and buy a good property that creates stability. For Ori real estate is nice but not where his creative genius lies. In order to succeed in real estate you have to know what you’re doing, it’s not a simple matter of leveraging your assets. There is a lot of information and research that goes into it. Spend a few hours looking at the physical property you are going to spend your money on.

There is no silver bullet or free rides. Don’t build your life on the hope that you made the right choice. The key element is to be realistic with yourself and assess the situation. As Ori likes to say “go touch the wall.” Respect the hustle.

Envoy Car Sharing

Envoy is the 3.0 version of car sharing. There is a big difference between something becoming an amenity and something being a service.

Envoy is community based car sharing, they provide electrical cars and infrastructure to properties so those vehicles become an amenity to those tenants or guests. A good comparison would be the gym in the building, with Envoy now there is a car in the building as well.

For you to get rid of your car, you have to rely on another mode of transportation. The more options you have, the more likely car ownership is unnecessary. Multiple modes of transportation available to you becomes you mobility solution.

Envoy’s current focus is on property portfolios of 100 units and higher, but they will eventually make their way to working with smaller communities.

The number one thing people purchase after they choose their short term rental is a car service.

The idea for Envoy came from Ori’s experience as a real estate investor himself. Real estate operators have an opportunity to provide an amenity that they can do at zero to low cost to their tenants, the tenants get access to mobility that they may not otherwise have, and the city gets a break on its infrastructure requirements. Envoy is one of the only companies on the market with a true understanding of community based car sharing.

Hearing the no’s takes you to the yes’s. Coming from real estate really helped Ori and his partner understand the mindset of real estate operators and know their service is valuable and worth supporting. Going lean and efficient has also given them the advantage.

Envoy is becoming a real competitive advantage for property owners.

Ori’s Takeaway


Think of the idea that you have been contemplating for years but never done anything with and just write the first step you need to take in order to execute it. Only 1% of people have the ability to take an idea one step further. Don’t think about the networks or conquering the world, just focus on the next step to making it happen.




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Lisa Phillips On Affordable Real Estate

Feb 11, 2019 40:21


Lisa Phillips is the founder of Affordable Real Estate Investments and #1 bestselling author of Investing in Rental Properties for Beginners: Buy Low, Rent High. After her second layoff and a foreclosure in the bloated Las Vegas, NV real estate market, Lisa found herself alone and halfway across the US from her friends and family with no job. She was left with a 35k condo and only enough money to renovate the place doing the work herself to stretch her unemployment check. It not only gave her a solid foundation of repair maintenance and costs, but also a taste of how owning real estate could be affordable and profitable. After purchasing four more rental properties around or under 30K in OH, MD, and VA, Lisa is now focused on doing one thing she loves to do: showing EVERYONE how they too can affordably start investing in real estate for high profits and cash flow.


Podcast Highlights


Who is Lisa Phillips?

Lisa Phillips was born in an impoverished situation but has a strength and conviction that the world can be a better place. Everyone has a need for a house, but there is another process that goes into turning a house into a home, which is one of Lisa’s innate talents.

Lisa was born and raised in Las Vegas and saw the real estate market in the area and thought it was going to the moon. After getting laid off, Lisa had to move to Ohio to find a job that paid a similar salary to what she was making before, which she needed to covering the mortgage on the condo she had purchased. One of the main lessons she learned from that experience was to make sure the average rent of the neighbourhood can cover the payment in case you need it to.

While living in Ohio, she was laid off again after purchasing a small condo and realized that low priced and affordable homes are a great protection in times of recession and uncertainty.


Saving Money For Real Estate

When you’re single you choose what level of savings you want to achieve. Once you have a family it becomes much harder to save the same level because your dream of frugality may not be theirs.


Courage comes from being true to who you are. It comes from acknowledging your soul and not letting other people tell you how you live your life. Listen to your own internal intuition and guidance, don’t ignore it.

Lisa noticed that every time she didn’t listen to the voice in her heard, she tended to regret it so she had some practice with it. It can be very hard when everyone around you is going in one direction and your intuition is telling you to go the other way but Lisa found that the more she listened to her soul the more she came out ahead.

Optimism and confidence in yourself to figure out something for yourself or ask for help are two other tools that will help you succeed. You can weather through the storm.

Lessons learned can help you when you get burned. By having such a negative experience with her first real estate purchase, Lisa learned a lot about the economics and math of the whole process and that helped her with her future deals.

Why do you help people?

Lisa felt that even though she doesn’t have a massive portfolio of properties she still had some knowledge that other people could really benefit from.

Inspiring people and creating a culture of responsibility are big reasons why Lisa continues to talk to people about her real estate methods. She knows that it doesn’t take a huge number of properties to change the way you think about life and allow you to do things that you always wanted to.

If even 10% of the people in the world had the financial ability to spend most of their time doing the things that they really love, the world would be a different place. Sometimes you just need to see someone else do it before you realize you can do it yourself.

Reference: Investing in Rental Properties for Beginners: Buy Low, Rent High, Lisa Phillips

Lisa’s Takeaway


First get really clear about what you want and why you’re doing it. Then talk to yourself in your head about what that vision will do and what it’s going to be. Don’t tell anyone else until why you believe it. Do the research so you can minimize the risks and then choose the path to get you there. Start acting. Have your daydream sessions and then make them fun. Find a coach and talk to them about what you want to achieve, invest in people that can help you.





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Keyword Phrase: Rob Jolles Rob Jolles On Getting Other People To Believe In You

Feb 4, 2019 43:26


Rob Jolles is a sought-after speaker who teaches, entertains, and inspires audiences worldwide. His live programs in and around the world have enabled him to amass a client list of Fortune 500 companies including Toyota, Disney, GE, a dozen universities, and over 50 financial institutions. He is the best-selling author of six books, including his latest release, Why People Don't Believe You...Building Credibility from the Inside Out.


Podcast Highlights

Who is Rob Jolles?

Rob Jolles was raised by a Marine and taught discipline quite early. He stumbled out of the University of Maryland and found himself working for New York Life Insurance. When Rob thinks of superheros, he sees someone that can take a punch, just like entrepreneurs. Everything in Rob’s life relates to getting knocked down and having the discipline to dust himself off and get back up.

Once Rob graduated the only thing he knew for sure was that he wanted to generate income. For him life insurance was the fastest way to accomplish that goal. Since he had 36 first cousins in the state of Maryland he had a bit of a safety net to rely on. Rob says that once you get through your relatives and family, that’s when you find out who you are.

One of the easiest ways to end a conversation is to tell people you sell life insurance. The reason people take a step back when you mention selling is because of bad actors that treat selling as a hiring mill. The constant churn of salespeople creates a terrible reputation for sales in general.

Why is sales such a difficult subject for people?

Most people are exposed to the lower end of the sales world which creates a negative imprint. Sales is more than sales though, it can also be thought of as influence and persuasion and a way to get an idea into someone’s head that allows them to take an action that’s good for them.

Sales and belief are intrinsically connected. Before we can get others to believe us, we have to believe us. If you believe your product is bad, you’ve got a problem. If you honestly believe your product is good, it’s so much easier to get other people to believe it too.


We have a lot of negative voices in our head that tend to chirp at us and we think they may not add up to much but they have a huge impact. They accumulate and you start believing it.

Take yourself to a moment where you were at your best. How do you think you felt? Train yourself to find that place where you felt powerful. The body doesn’t know when the mind is acting.

People say no to the person you were being at that moment, not because of the words you used.

Rob helps people that have the words but lost the tune. He started applying acting skills to his teaching methods and showing people how to be authentic. Everyone can lose their tune, some have never even heard it. It’s important to deemphasize the words, everyone has a limp.

We have to come to grips with our limp and realize that it’s ok.

Learning The Tune

Everyone has their own tune. You will never have someone else’s tune, you have to work with what you got and trust yourself.

We obsess on things that are not in our control. Play the course, not the opponent. When you realize that worrying is a misuse of your imagination and focus on your authentic tune, that’s when you win.

We are born to extract the greatness that is buried inside. Be who you are when you’re not selling.

People don’t fix small problems, they fix big ones. A well trained salesperson is someone that has your best interests at heart and has the passion and the skills to spare you the pain of your big problems. If you’ve ever been to a well trained therapist, you have already experienced what a well trained salesperson is like. They don’t paint the picture for you, they give you the brush and let’s you paint your own picture.

Great salespeople are harder to spot because it looks like a normal conversation.

Realize that product knowledge is overrated. Look to work with people that are able to communicate. Needs based selling doesn’t work. The majority of the population know they have a problem, they just don’t want to do anything about it. You have to go deeper, ask questions, listen, and don’t try to fix the problem. Let the client articulate the problem deeper and spend more time there.

The bigger the problem, the bigger the need and the bigger the need the more urgency the customer is going to feel to fix it.

Reference: Why People Don't Believe You...Building Credibility from the Inside Out, Rob Jolles

Rob’s Takeaway


Good speakers and authors are not trying to just inspire and entertain, they should be creating repeatable predictable processes. No matter whose work it is, make sure there is a definable process that you can measure. Don’t be afraid to try and fail, you don’t have to put it all together at once. Drip it together piece by piece and ask more open questions.




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Consistency Beats Intensity, Finding Abundance With Real Estate Investing

Jan 31, 2019 37:18


In 2015, Paul Thompson wanted out. His corporate office had become a suffocating cell. Paul decided to start buying rental houses, build passive income and break the chains of Corporate America. He was so successful, he secured 20 deals in his first 18 months of investing. Since that time he has acquired more than 2 dozen rentals without bank financing.

Now he teaches others how to raise money from regular people that have some funds to invest. In addition to coaching others and still investing himself, Paul hosts a podcast to educate others. Ready Investor One offers tips, hacks, insights and more for listeners interested in creating opportunities for passive income. “Level Up Your Life through real estate investing.”


Podcast Highlights

Who is Paul Thompson?

Paul was a normal average person working in corporate America trying to climb the corporate ladder. Eventually he realized that the ladder he was climbing was against the wrong wall and needed to find a way out. He started looking for way to replace his income and considered a lot of opportunities including a new job and buying a franchise, but he decided to go down the path of real estate investing. He purchased 18 properties in the first 18 months, but took the process one step at the time.

Real estate investing can be uncertain but it can be done with less risk than starting a business.

Neural science has proven that to make any lasting change, you have to have one of three things: you have some sort of an epiphany, you change your environment, or you take baby steps. For most people they need the epiphany which is what happened with Paul. He realized that the freedom to choose what he does with his time was what he really wanted and had to do something to make that a reality.

Teaching Children

Kids do what they see, not what they hear. Paul wants to be an example for his children and for them to remember the time he spent with them. Kids don’t really care about what you’re doing for income, they care about how much time you spend with them.

Real Estate Investing Day One

Paul was actually laid off from his job which is usually quite a rough event in someone’s life, but for Paul it was the fourth happiest day of his life after his wedding and his kids birthdays. He had already been planning for the day when he would put in his resignation so he was quite ready by that time.

One of the very first influencers that Paul had found was J Massey and one of the things that J talks about a lot was private money, so that’s what Paul focused on at first. He met a local wholesaler and a private money lender and managed to put a deal together that made sense for everyone involved.

As Paul has expanded and gotten more savvy his criteria has gotten more strict but finding the right kinds of properties has actually gotten easier.

New Ways Of Thinking

Paul has codified his mindset around money. Most of the things that we’re taught about money is wrong. You’re taught to be an order taker and to finance all your consumer activities. We hear the cliche all the time that time is money, but only people who are not entrepreneurs think that way.

You have to switch your mindset and recognize that the money isn’t in the time, you use your time to set up systems that scale and separating your time from your money. When people ask Paul how he makes money he tells them he doesn’t make money, his money makes him money.

Paul has found his zone of genius is in taking information and breaking it into smaller pieces that allow other people to make transformations in their lives.

Ready Investor One

Real estate investing is a game and Paul teaches listeners how to take the individual approach and how to invest in themselves and in things that pay for their lifestyle. Paul is also a child of the 80’s so the all the references in the book really resonate with him.

Investing in more than money, you should always be investing in yourself. The more you put in to your own skill set, the more you will get out of it.

You also have to develop strong relationships and upgrade your friends. They are probably following the same mindset that doesn’t work, get around other people that are on the same path as you and have some interesting conversations.

Paul’s default behaviour is to spend the first few hours of each day investing in himself and sculpting his internal monologue and the story he tells himself. Reading more and meditation are big components of upgrading yourself. The final piece of the puzzle is exercise, even a little bit of exercise can allow you to be more present in your life.

Paul’s Takeaway

Choose your path, either investing in the stock market, buying property or starting a business. Those are the fundamental three paths to freedom. Then start small with the most fundamental baby steps towards that. Measure one thing only: how many offers you are making. Everything that is in your way is your task. Track for 100 days one step that you are doing consistently. Consistency beats intensity. When you take a step, give yourself a checkmark. If you never miss twice, you will find yourself at a place of abundance in five to ten years.




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Muck Rack And Creating Powerful PR To Get Your Message Out

Jan 28, 2019 44:11


Gregory Galant is Co-founder & CEO of Muck Rack, Host of the Venture Voice podcast, and Co-founder of The Shorty Awards. Previously, Greg was an associate producer at CNN.com. In 1996, Greg founded Halenet, an award-winning Internet strategy firm while in high school.


Podcast Highlights

Who is Gregory Galant?

Greg has been a lifelong entrepreneur. He got onto the internet very early on and taught himself to create and code websites, skills which he then used to build a business while in high school and beyond.

While working as an associate producer at CNN.com in 2005, Greg had the idea to download mp3’s of spoken word content, more commonly known as podcasts. He started one the very first podcasts focused on entrepreneurs where he interviewed people like Reid Hoffman, the founder of Yelp and more. One of his podcast guests named Evan Williams was working on a prelaunch company that ended up being a failure, but that lead to him pivoting to his side project which turned out to be Twitter.

Greg’s philosophy when starting a business is if you can try it out quickly and cheaply, don’t think about too much. If it doesn’t work, you only lost a couple of weekends. Greg has found that the longer he thinks about an idea before launching it, the worse it does.

The Shorty Awards lead to Greg noticing that journalists were using social media to figure out what to write about. This lead directly to the idea for Muck Rack.

What is the business model behind an awards show?

In the beginning sponsorship was the main revenue source for the Shorty Awards. They quickly found out that sponsorships are very unreliable so they needed to figure out another way to generate revenue. Greg noticed that agencies were doing more digital work and were used to paying an entry fee to be entered into an awards show. They decided to keep it free for individuals but for branded agencies to charge an entry fee.

Thousands of companies pay The Shorty Awards a little bit of money so they aren’t beholden to any one company.

Dealing With Uncertainty

If you want to have a reputation as a good business person, be sure to get into a good business. Does your business have a good revenue model? Revenue diversity is important to eliminating some of the risk inherent in business. No one customer should make up more than 10% of your revenue.

It’s okay to start with a less than optimized revenue model if it allows you to transition into a more stable one.

PR And Muck Rack

Greg saw that journalists were on social media but that it was hard to find them. He came up with the simple idea of a website that allows you to see the journalists on social media and what they were sharing. They ran it as a free resource site on the side of the Shorty Awards but eventually realized that it more potential.

Muck Rack transitioned into a subscription service to pitch journalists after feedback from one its users.

The big difference between Muck Rack and HARO is Muck Rack is really more of a search engine for journalists that allows specific targeting of journalists based off what they write about. It’s more of a proactive approach to getting PR.

The number one thing for entrepreneurs to keep in mind when they are pitching journalists is that they are human beings. Be personable and thoughtful in your outreach. If you do your research and send them a relevant pitch, you are actually helping them. The generally love hearing from an entrepreneur because of your natural passion for the business.

Try boiling the down your pitch to a tweet. What’s newsworthy about your business that you can convey in one sentence? Write the headline to see if there is something really interesting or if you’re just caught up in your own story.

Gregory’s Takeaway

Think through the worst case scenario. If the costs to try a business are low and the worst case is that you lose a couple of weeks of your time, you can think of it as an experiment that didn’t work out instead of a failure if it doesn’t work out. You’ve got very little to lose and there’s a good chance that there is lots of upside if it works out well.





@gregory on Twitter

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Lessons From The Founder of Upwork

Jan 24, 2019 45:45


Beerud Sheth is the Founder of Elance (now Upwork). He is also the founder & CEO of Gupshup, the world's leading messaging and bot platform. From immigrating to the US at 20, to founding Upwork (then Elance) in a cramped Jersey City apartment, to creating chatbots for the biggest companies in the world, Beerud’s journey as an entrepreneur and tech visionary has taken a number of surprising turns.


Podcast Highlights

Who is Beerud Sheth?

Beerud grew up in Mumbai, India in an average middle class family and was blessed with decent analytical skills. He was always good at math and computing but more than that, he had always been driven and determined with whatever he was working on. Those are the traits that have served him well in his life because no matter how hard you work, things don’t always go as planned.


Elance to Upwork

It took 20 years to take Elance to IPO, this is a reflection of the typical overnight success story in Silicon valley. There were many challenges along the way.

The IPO is not the end goal. In many ways Upwork has barely scratched the surface of the freelance economy. The point is not the IPO itself, it was to build a company that adds value to millions of people and generates a profit. In that, Upwork has certainly succeeded.

Entrepreneurs tend to overestimate the short term and underestimate the long term.

All of Beerud’s skills and experiences culminated in the idea that would eventually become Elance and later on Upwork. The core idea has remained essentially the same even though the business has evolved quite a bit.

Entrepreneurship is a balance of irrational exuberance and a strong realism. When you’re trying to execute something you have to be realistic about what your customers want and how long it will take. The 2001 financial crisis forced Beerud to reevaluate his company and restructure it in a lot of ways. If you don’t have runway, it doesn’t matter what your ideas are because you can’t execute.

Planning For The Bad Times

Much of it comes down to psychology. Try not to get too excited when things are going great but also try not to get too down on yourself when things aren’t going well. You can’t control what happens in the world, but you can control how you respond to it. Your own psychology can get in the way of your own clear thinking.

Entrepreneurs tend to take on all the stress upon themselves. Focus on what you can control and can do. It’s not the bad stuff that is happening to you it’s how you respond to it that determines the outcome.

Beerud relied on the advice of VC’s and mentors that were involved in the company. Leverage whatever resources you can and people’s willingness to share their wisdom, that’s one of the greatest strengths of Silicon Valley.

When you start a company people rely on you. Beerud always had an immense sense of obligation to the people he worked with so quitting wasn’t an option to him.

If there was no Upwork, would there be no AirBnB or Uber?

You can’t say for certain but Upwork definitely blazed a trail. In many ways those companies were able to take advantage of the lessons Upwork learned and the validation it provided.

The success of those companies validates the initial idea of Upwork even more.

What’s coming in the future?

Gupshup is Beerud’s latest project. It’s a messaging platform that enables businesses to communicate with consumers in more intelligent ways. Gupshup basically simplifies your messaging channels by combining them so it’s easier to manage and then allows you to automate a lot of the most common questions.

Businesses have to be where the consumers are but the proliferation of messaging channels is making that much more difficult. But if you get that right, you have a major advantage.

Where did the drive to solve complex problems come from?

Beerud likes to connect the dots. When you enable two way conversations it becomes very powerful for a business to understand its customers but that leads to another problem. Solving those kinds of big problems is something that Beerud enjoys.

It’s equally hard to solve a small problem and a big problem, so you might as well work on a big one because if you succeed the outcome is that much greater.

AI enabled chatbots can be very useful to small businesses. Gupshup is creating templates for different kinds of businesses that make it more plug and play. Small businesses are always tight for resources and a chatbot can make a big difference.

Beerud’s Takeaway

Listen to the voice to the extent of trying to understand why it is saying what it is saying. If it’s just fear mongering for no reason, that’s not very helpful. It’s good to understand the risks and challenges involved but you have to follow your gut if you believe it’s the right course. It’s okay to be nervous, that’s part of the journey. You have to dive in and go for it but do it with your eyes open. It will prepare you for the inevitable challenges that are going to follow.




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Scaling Past Your First Deal With Syndication Real Estate

Jan 21, 2019 38:56


Todd Dexheimer, CEO of Venture D Properties, LLC started investing in Real Estate in 2008 in mainly single family homes and multi-family. Since 2008 he has purchased and renovated roughly 500 units. Todd has completed over 150 flips, including a 20 unit mobile home park, a ski resort and a 15 unit apartment complex, while using those profits to build his rental portfolio. Currently Todd owns approximately 350 units located in 4 states. His focus is on syndicating value add multi-family in emerging markets.

Todd is also the host of the podcast Pillars of Wealth Creation and does some coaching

for multi-family investors. Todd is passionate about teaching others how to create a business and how to take control of your finances. Todd was a high school industrial tech teacher prior to investing.


Podcast Highlights


Who is Todd Dexheimer?

Before real estate Todd was a high school shop teacher and he wasn’t particularly entrepreneurial, but he always had an itch to do something more. Within three years of working as a teacher Todd dipped his toes into the real estate world.

Todd started by reading about business and eventually made his way to learning about real estate where he became obsessed with the idea of investing in it. When he was working as a teacher, he knew he needed to find a way out and real estate appeared to be the best way.

Teachers don’t get paid a lot so it wasn’t that hard to replace the income with cash flowing real estate. When you look at the numbers and think about the time and money it takes to get there, being a teacher is a tough call.

What inspired you to pick up the books?

Trying to figure out what’s next was the main reason Todd started reading, even though he was never a big reader. Todd didn’t have any real mentors around him to learn from so books were his only option.

You don’t have to live next door to someone to learn from them.

Real estate became the path because the numbers just make sense. Real estate replaces the requirement to work, at least not very hard, and makes retiring much more achievable.

Going Full Time Into Real Estate

By the time Todd quit his job, he had already been investing in real estate on the side for a few years so the transition wasn’t very difficult. His income from real estate had already exceeded his income as a teacher by that point.

You don’t need to always graduate, you can start now and gradually work your way up. Scale as quickly as you can and look for partnerships/syndication real estate opportunities that can help you reach your goals.

Education and experience is great but it doesn’t take years to get started.

You have to get off your couch and go do a deal. You have to go find it, because deals won’t come to you in the beginning. There are lots of ways to go big, it doesn’t have to be the traditional path that you think it is.

You have to put yourself out there to take advantage of opportunities that come your way.

Syndication Real Estate

Eventually you run out of your own resources so syndication real estate is a natural next step. If you want to scale, partnerships are required. Syndication is how to scale past your first deal. If you become known for getting your investors a good return on their money, you will have a list of people happy to give you their money.

Once you start to understand what opportunity looks like, you can’t stop seeing them all around you.

Todd’s Takeaway

It starts with your ‘why’. You have to fully commit and can’t take no for answer. You’re going to get punched in the face, get told you’re crazy, and get told no, and if you listen to that you’re never going to get started. When you do stumble, and you will, the most important thing is to push harder and know that you’re on the right path.




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Breakthrough Innovation In Your Business

Jan 17, 2019 50:46


Nathan Furr is an Assistant Professor of Strategy at INSEAD, where he teaches innovation and technology strategy. He is a recognized expert in the fields of technology strategy, digital transformation, and disruptive innovation. He is the #1 bestselling author of Nail It Then Scale It: The Entrepreneur's Guide to Creating and Managing Breakthrough Innovation, The Innovator's Method: Bringing the Lean Start-up into Your Organization, and the new book LEADING TRANSFORMATION How to Take Chargeof Your Company's Future.


Podcast Highlights


Who is Nathan Furr?

Nathan cares about the dreams that people have and them getting the chance to pursue those dreams. He started his career in industry and even tried his hand at a start-up where he learned a lot of lessons the hard way. This lead him to ask the question of “how does breakthrough innovation really happen?” and eventually to Silicon Valley. That’s where he stumbled upon the fundamental dilemma that he’s been trying to answer with his books and work.


We live in an environment of uncertainty and change and the tools we use today were designed during the industrial revolution, they were not designed to address an environment of radical uncertainty and hyper change. Uncertainty is the main theme that runs through all of Nathan’s work.


It’s hard to see beyond the fence of your daily life what’s possible.


The driving force behind new tools and frameworks is technology. Technology has lowered the barriers and made the world more dynamic and rapidly changing than ever before.


Is change accelerating?

Before the industrial revolution there was no such thing as Management, there were no courses you could take, and no business schools. During the 1700’s technology changed the nature of industry and introduced new problems. Business schools were created to solve these new problems.

The question Management tries to solve is “how do I coordinate, how do I optimize, and how do I execute?”

There are more new companies and new inventions with more new people participating in the process than ever before and this is contributing to the environment of dynamism.

This is the golden age for hardware entrepreneurs. The framework has shifted from “how do I coordinate, optimize, and execute on the capture of value?” to one of “how do I create new value?”

Breakthrough Innovation

The big players are getting bigger and the smaller businesses are growing around the opportunities around mass customization. Many big companies are now looking to work with start-ups.

Software is making the world more modular and allows businesses to work with each other rather than just compete.

There are more automobile related start-ups in the last five years than almost any other category.


INSEAD was founded to be the Harvard of Europe. Once you get outside the United States, INSEAD is very well known.

Breakthrough innovation crosses borders. We’re all in this world together and we all have to figure out how to deliver efficient, effective service wherever they our customers are.

Staying On Top Of Change

Nathan found that innovators engage in five fundamental behaviours. The number one behaviour is associating, where they look at other areas of life and applying an idea to another area. There is a lot of innovation that gets stuck in some area that can transform the way business is done in another area.

Observe the world and keep your eyes open. Question and challenge the status quo, notice the world around you and look for problems that can be fixed, experiment and network for ideas.

Digital transformation is not about technology, it’s about the customer. If your business is not about a customer need, it doesn’t matter. Finding how to solve customer problems better is the essence of a good business.

Look for a trojan horse, a customer need that allows your business to learn by doing. Look for technology that can add value to your customers today and start small, you don’t have to master all the technologies available at the same time. Don’t be afraid of diving into the possible solutions that are out there, technology is less scary once you get into it.

Reference: LEADING TRANSFORMATION How to Take Charge of Your Company's Future, Nathan Furr

Nathan’s Takeaway


There are three barriers to human change, the tendency to get stuck in the status quo, stuck in our routine, and our fear. The most powerful and oldest tool we have to create change is stories. Stories have an incredible power to change the way we see the world. What is a possible future story that you can tell yourself? Write down 10 possible futures for yourself five years from now. What would you like to be doing five years from now? What would you hate to be doing? Craft a story that will help you believe what is possible. Think about the future you want to create and work backwards to figure out what concrete steps you need to take to get there. Small transformations add up to big transformations.




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Networking Strategies For Cracking The Funding Code

Jan 14, 2019 44:42


Judy Robinett is the founder of JRobinett Enterprises and author of How to Be a Power Connector: The 5+50+100 Rule for Turning Your Business Network into Profits. Robinett is a business thought leader who is known as “the woman with the titanium digital Rolodex.” She has been profiled in Fast Company, Forbes, Venture Beat, Huffington Post, and Bloomberg Businessweek as a sterling example of the new breed of “super connectors” who use their experience and networks to accelerate growth and enhance profitability. In her more than 30 years of experience as an entrepreneur and corporate leader, Robinett has served as the CEO of both public and private companies and in management positions at Fortune 500 companies.


Podcast Highlights


Who is Judy Robinett?

Judy went to school in a small town in Idaho and always loved making things happens and solving problems. She learned how to break out of her shell but found she couldn’t survive in the corporate world. She saw men all around her getting promoted and making more money and decided she needed to understand what was happening. She learned about the connections those people had and the importance of knowing the right people.


Most networking groups are a waste of time. You have to be careful what room you get in. The people with money tend to be in different kinds of groups. There is no lack of money in the world, the trick is figuring out who you need to know and coming up with a plan to get to know them.


The thing Judy found out is the millionaires and billionaires are just like everybody else. They have problems and if you can solve their problem, you go to the front of the line.


Networking Strategies

Learn to talk to strangers. Only 12% of the population is clinically shy, but over half of us believe ourselves to be shy. The two tricks to talking to strangers are to ask a good question, or offer a heartfelt compliment. People want others to care about them and you never know who the other person might be.

The common advice of keep your head down, work hard, and people will notice you doesn’t work.

Judy didn’t figure out that networking was something she wanted to learn until she was 30. During her journey, she learned that she could add value to the people by connecting them to each other. After realizing that owning a business was the path to success for her, Judy nearly went broke. That was when she heard words that would change her life from her bankruptcy lawyer “They can break you, but they can’t eat you.”

If bad things hadn’t happened in your past, there is a good chance that you would be in a worse situation today.

Sometimes it makes sense to explore some expensive hobbies instead of trying to squeeze value out of networking events.

The secret to networking strategies is to get to know people and build a relationship. The goal is to get the second date, not close in the first conversation.

Joining a not-for-profit is another good option. Charities often have the top local business leaders as part of their board and they need people to help. Everybody’s problem is someone else’s solution.

All the people you need to meet probably have either a banker, a lawyer, or an accountant.

The good ol boy network is being chipped away at one day at a time. In nearly every town there is an incubator and wealthy people are always looking for a good deal.

If your story is good and it’s a good opportunity, people are going to want to meet you and talk with you.

Don’t ask for money, ask for advice. Make sure you’re with the right investor, not everyone invests in your niche.

There is no perfect platform to connect investors with people who are looking for money, that’s why we have so many intermediary groups and have to do the leg work. Social media can make it easier to reach people as long as you’re gracious and kind.

People remember small acts and gestures of kindness. Recommend a book, send them some research or information that might be helpful, get to know them and find out how you can add value to whatever they’re doing.

Judy’s Takeaway


If you’re going to raise money, Google your local angel groups and reach out to them. 75% of angel investors invest locally. Call your chamber of commerce and ask them who you should talk to that may be able to help you with your project. Talk to two strangers this week and start a conversation.





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The Problem With Healthcare And How To Fix It

Jan 10, 2019 36:27


Dave Chase is the author of The CEO’s Guide to Restoring the American Dream and co-founder of Health Rosetta. He was also co-founder & CEO of Avado, a digital health company acquired by & integrated into WebMD & Medscape. He was named one of the most influential people in Digital Health due to his entrepreneurial success, speaking & writing. Chase spent several years outside of healthcare in startups as a founder or in consulting roles with LiveRez.com, MarketLeader, and WhatCounts. He was also on the founding & leadership teams in two $1B+ businesses within Microsoft including their $2 billion healthcare platform business.


Podcast Highlights


Who is Dave Chase?

Dave is a congenital optimist but he’s also a straight shooter. The genesis of his journey started out with his career in consulting while working with hospitals. Once he learned of something referred to as Revenue Cycle Management and realized the impact it has had on the middle class, he knew he needed to make a change.


Healthcare has a number of ways to bill for services with plenty of ways to pad the end result. This billing paradigm is responsible for about half the revenue in the industry, roughly $7 trillion.


By the time Dave was 30 he had 10 friends that were his age or younger die, with the last one being an egregious example of healthcare failure. In many ways, the state of the healthcare industry is responsible for the decline in public education quality. The good news about what Dave is working on is that government is not the answer, once people have the hope that the system can be improved, we already have the tools to get it done.


Belief in Healthcare Change

Dave knows the secrets of healthcare without being shackled by them. Dave believes that once you see a problem, you are obligated to fix it or you are complicit with it. For Dave’s business the failure scenario is to reach 10 million people and they are already halfway there.

Dave went looking for a market gap, and found the greatest heist in American history.

Dave works with businesses as small as a single person, the tools you have access to are just a little different from larger businesses. The typical family of four will pay over $20,000 a year for pretty poor healthcare benefits whereas smaller organizations could get coverage for as low as $6,000 a year.

You’re in the healthcare business whether you like it or not.

From Dave’s experience, there hasn’t been a hospital bill over $5,000 that hasn’t gone out without an error. The most common issue is something called pricing failure which is when there is no connection between what you pay and the value you receive. A lot of the times the places that are most expensive have the poorest quality care.

Part of high quality in healthcare is not doing procedures that aren’t necessary. Some of the procedures performed today are going to be seen as lobotomies and bloodletting in the future because they just don’t work. 2% of the entire US economy is squandered and tied up in non-evidence based, non-value add procedures that have no evidence to prove they’re effective at all.

How did this happen?

If you increase costs by 5% every year, after 20 years, here we are. Healthcare used to be 2% of payroll, now it’s 20% and healthcare is close to a fifth of the economy. This is why employees have had 20 years of wage stagnation, it’s not because employers don’t want to spend the money on their employees but because it’s all going to increased healthcare spending.

The underlying costs of healthcare haven’t gone up in the past five years, but premiums and prices have gone up. You can employ more people, better people, and have more profit in your business if you just pay attention to your healthcare costs.

Dave’s Takeaway


If you have someone you work with that a benefits broker and your healthcare costs have gone up in the last five or ten years, there’s a good chance you’re working with the wrong person. You have to find someone that is aligned with your interests and not someone else’s. Dave certifies the next generation of benefits brokers and that’s a good place to start.




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Making An Impact With Frank McKinney

Jan 7, 2019 54:21


Frank McKinney is a real estate artist and international bestselling author of Make It BIG!: 49 Secrets for Building a Life of Extreme Success, Burst This!: Frank McKinney's Bubble Proof Real Estate Strategies, and Frank McKinney's Maverick Approach to Real Estate Success: How You can Go From a $50,000 Fixer Upper to a $100 Million Mansion. He created 27 self-sufficient villages in 24 cities in the last 16 years, impacting the lives of 12,000+ children and their families. McKinney is a five-time bestselling author in 4 genres, real estate “artist” who creates multi-million dollar oceanfront homes on speculation on the sun-drenched canvas of the Atlantic, Hollywood actor, ultra-marathoner, and acclaimed speaker.


Podcast Highlights


Who is Frank McKinney?

Everybody needs a place that draws out their creativity and ingenuity because that is what gets you ahead in business.


Frank grew up in a small town in Indiana and always wanted to be Willy Wonka because Charlie and the Chocolate Factory was one of the greatest marketing films of all time. When you combine that with Robin Hood, it gives you a good picture of who Frank McKinney is.


Motivation washes off and goes down the drain with the soap at night. Motivation and inspiration don’t last, but aspiration will alter your DNA. Who do you aspire to emulate?


We have to start small. Frank began the first five years of his career buying houses that were worth less than $100,000 and flipping them. He put in his 10,000 hours into the craft of real estate.


Approach your business like an artist would approach their craft. A lot of investors approach the business looking to cut as many corners as possible.


Real Estate Artistry

Most people that enter the real estate industry see a spreadsheet and look to squeeze as much as they can out of it. Frank looked at his career differently. He compressed his margins early on so that he could grow his reputation. He took the time to build his reputation before he built a house.

You must set yourself apart in your industry with your personal brand. Personal branding is the art of amplifying your essence so your customers become intoxicated by your message and you as the messenger, and then in rapid fire succession with your product next. Your personal brand is very important in the real estate business because there are so many people in it that you have to stand apart.

Authentic, Transparent, and Vulnerable is a great way to approach your life and your business. Frank had a lot of self destructive tendencies when he was young, but he swore off the dangerous habits and channeled those desires into his business.

Speculation Building

Frank’s niche is deeply local, the farthest project he’s done from his home is only 8 miles away. There are only roughly 160 opportunities for Frank to build on the oceanfront area he uses as his canvas.

The big lesson is to carve your niche and deeper and wider than most. Know your market better than anyone else. Frank knows his market and the market knows him.

Risk tolerance is like a muscle, the more you use it the more capable you are of taking risks that others would think are crazy. Fear is what stops us, it’s not the risk. Risk is always associated with a big change or a big challenge in our life. For Frank, the biggest risk is not taking one.

Frank is still afraid, that’s how he knows he’s moving forward and making progress.

Caring House

To whom much is entrusted, much is expected. This is why Frank started Caring House and started building villages across the world. Frank describes himself as a simple thinker. If he’s building homes for the world’s most wealthy, shouldn’t he be building houses for the poorest as well?

At the height of Frank’s career he felt no joy in his life because he hadn’t discovered his highest spiritual calling. If you feel empty, it’s because you haven’t nurtured the world. He started feeding the homeless for one hour a week for a year but that was only the start.

Frank’s Takeaway


That voice is fear, you must recognize it for what is. It will try to convince you not to do it, but where will you be if you don’t try. You may fail but that’s ok. Have a healthy ego about what you’re going to do. Believe that you’re a little bit better than other people about what you’re do and don’t be afraid to tell others about it. Where are you going to be next year if you don’t take that risk?




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

The Food Revolution

Jan 3, 2019 49:24


Ocean Robbins is co-founder and CEO of the 350,000+ member Food Revolution Network, adjunct professor in Chapman University’s Peace Studies Department, and co-author with his dad, bestselling author John Robbins, of Voices of the Food Revolution: You Can Heal Your Body and Your World with Food! and the new book 31-Day Food Revolution: Heal Your Body, Feel Great, And Transform Your World. He launched Youth for Environmental Sanity (YES!) at age 16, and directed the organization for 20 years. Ocean has spoken in person to more than 200,000 people and facilitated hundreds of gatherings for leaders from 65+ nations.

Ocean has served as a board member for Friends of the Earth, EarthSave International, and many other organizations. He is a founding member of The Turning Tide Coalition, co-founder of the Leveraging Privilege for Social Change program, and founding co-convener of Leverage Alliance. Utne Reader recognized him as one of 30 “Young Visionaries” under 30, and both Time and Audubon magazines chose him as being among the heroes of the new millennium. He is the grandson of the great ice cream man Baskin Robbins and the son of 2 million copy best-selling author and health leader John Robbins (who walked away from his father’s Baskin-Robbins ice cream empire to become a spokesperson for health and social concerns).


Podcast Highlights


Who is Ocean Robbins?

Ocean was born in a log cabin to a couple of parents who were practicing yoga for several hours a day at the time, hence the name Ocean. He started from an early age learning about food and the source of what we eat.

His father decided to pursue a different form of success and walked away from the Baskin-Robbins empire. Ocean believes that we have made money more important than health or the Earth, but money is a tool that you can use to grow your service and your impact.

The fact that Ocean’s father walked away from the ice cream fortune shows that he had integrity and was focused on something more than just making money. Once a business gets to that level, it’s almost entirely about making money and it’s very hard to bring in values like integrity that late in the game.

Why food?

Everybody eats, every issue is impacted by our food system. The United States is spreading food systems around the world and as that happens the associated diseases and problems are spreading as well.

Food systems are a point of leverage that can change the world.

Most people are trying to fuel their lives on a diet that is fundamentally flawed. 19% of the United States GDP is going to healthcare spending basically dedicated to symptom management related to nutrition and lifestyle.

People become very attached to their food and what’s familiar. Ocean doesn’t want to take anything away from people, he wants them to be able to thrive. The junk food industry has done a great job of marketing and convincing people that it makes us happy, but there isn’t much pleasure in treating disorders.

The standard American diet leads to standard American diseases.

Many people don’t make lifestyle changes until they face a diagnosis, and at that point it may already be too late. We know where the status quo leads. You can see dramatic results in as little as 31 days.

Entrepreneurs and the Food Revolution

At the end of the day, what determines your health outcomes is not what you do at your peak levels of creativity. It’s determined by your habits.

All your habits start as streams and eventually become rivers. The key to will power is to dig some trenches and helping the water go where you want it to go. Fill your fridge with healthy food, get rid of the worst offenders and prepare meals ahead of time so when you’re tired and exhausted your path of least resistance is a healthy one.

Food 1.0 was about survival and that’s where we’ve been through most of our history. Food 2.0 is about commerce and comes with a variety of experiences but is essentially value neutral and has brought us food that’s killing us. Food 3.0 is where the central organizing principle is health and there are plenty of profits to go around in this paradigm.

The health food industry has basically catered to the elite, relatively privileged consumer which has left the other major food producers to cater to the masses. It’s not that expensive to eat things like cabbage, carrots, and kale. The average American is consuming 600 calories a day that they don’t need. The first place to start is to stop eating food that you don’t need.

You have to learn how to change your taste buds so that you can enjoy healthy foods and how to prepare them so that you can enjoy them.

There is no shortage of people that would like to make a living doing something good.

Fair trade is a system of certification that verifies that food being sourced was produced in an ethical way. It allows people to work with dignity and encourages farmers to be sustainable and think about the long term impacts of their actions.

How do you measure success?

To a certain extent, the revenues generated are tied to impact and contribution because the products they sell provide education around health and lifestyle.

Most copywriting experts stress the pain that people are suffering, but Ocean has found that focusing on the positive and what’s possible is outperforming the pain.

Ocean’s team also measures things like click through rate on their emails, engagement, and response.

Everytime you say no to processed food and yes to whole foods you are a food revolutionary.

Reference: 31 Day Food Revolution, Ocean Robbins

Ocean’s Takeaway


Don’t make the perfect into the enemy of the good. You can’t do everything at once. Look at your life and where your food choices are not in line with the integrity you want for your life. That could mean throwing out the potato chips, preparing meals ahead of time, or calling a friend and figuring out how to pool food prep. Think of a step you can take that will get you momentum in a positive direction. It’s not about some diet trend, it’s about creating the habits and conditions that set you up for success.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

How To Communicate With Influence

Dec 31, 2018 41:11


STACEY HANKE'S passion is teaching others how to communicate with influence Monday to Monday®. As a keynote speaker and mentor to C-suite executives, she helps individuals see through the eyes and ears of their audiences. The result is career-changing insights. She previously wrote the #1 Bestseller, Yes You Can!  Everything You Need from A to Z to Influence Others to Take Action. Hanke holds a certification as a Speaking Professional for the National Speakers Association, is a member of the C-Suite Network Advisors, and a Member of the Forbes Coaches Council. Recognized as one of the National Speakers Associations “Top 6 Under 40,” Hanke has appeared in the New York Times and SmartMoney, has emceed TedX, and has appeared on the Lifetime Network and WGN Chicago.

Over the last twenty-plus years, Hanke has trained hundreds of thousands of leaders, sales people, and business professionals across the United States and abroad. The influence skills and techniques she shares build the confidence, credibility, and presence that create lasting results.

Stacey Hanke, Inc., the company she founded in 2004, provides keynotes, training, and coaching for organizations in a wide variety of industries, including manufacturing, healthcare, retail, advertising, financial, and insurance. Her clients encompass Fortune 500 companies and household brands such as Coca-Cola, GE, General Mills, FedEx, Kohl's, McDonalds, Nationwide, Leo Burnett, and several branches of the US Armed Services.


Podcast Highlights

Who is Stacey Hanke?

Stacey comes from a humble background and her goal was never to start her own business. Out of college she landed some big jobs and found herself training on a wide variety of topics and she noticed something very important. It doesn’t matter how smart you are if you don’t have the ability to communicate a message that someone understands.

Body language became a major focus of Stacey’s when she started to wonder how we can execute a behaviour without really knowing we’re doing it. How can we feel different when we are communicating from the way everyone around us experiences?

The experience your internal and external clients have with you determines the amount of money in your pocket.

Stacey was very fortunate to be part of an association that hired speakers and she really liked how they engaged and impacted people. She was the host for many of these events, and this lead to Stacey honing her skills and becoming sought after as a speaker herself.


Where did you get the courage to make it happen?

Stacey had the mentality of not wanting to look back and wonder what might have happened. She also always had her Starbucks back up plan to fall back on.

How long are you going to sit and try to figure it out? Stacey gave herself a year to get her business off the ground, without a date in the calendar every day becomes someday.

If it doesn’t get scheduled it doesn’t get done.

How Clients Experience You

We all get to choose the reputation that we want to create for ourselves everyday. Are you prepared? Do you come across that you want to be there? To you believe what you say? Does your body language match what you’re saying?

Most of the time feedback is flawed.

You choose how you show up. Your tone of voice and the words you use need to be a focus no matter how experienced you are if you want to create a reputation you can be proud of.


Everyone defines influence differently, you just have to be clear about your definition. Influence does not mean you can turn it on and turn it off. Influence is consistent every day of the week.

Influence means you have the ability to get people to take action long after the interaction has occurred. Influence is what you are doing everyday with an individual that gets them to see your consistency and trust in you.

How you communicate is a matter of consistency. However a golfer practices Monday to Wednesday, that’s how they play Thursday and Friday. In the corporate world everyday is game day. Are your words consistent with the way your eyes and body are communicating?

The higher your role in a business is, the more people are watching and observing the way you act. Is your message consistent with your behaviour?

Body language and communication is the baseline, once you have that established your image becomes an additional layer that you can adapt to the situation.

The next time you are caught off guard and surprised, pay attention to your words and your behaviour.

The first step is you have to start to experience yourself through the eyes and ears of your listeners, and the best way to do that is record yourself. The second step is to find someone that can give you constructive feedback and honestly tell you how you come across and what you do or say that makes it difficult for someone to stay with you.

Find someone in a leadership role that you trust and watch how they interact with people.

Stacey’s Takeaway

The very first thing is to get the video and audio of yourself and get the experience, you may be pleasantly surprised how you come across. Know that it’s going to be hard work, get comfortable being uncomfortable. The more uncomfortable you are through the process of growing your influence, the quicker your awareness increases. When that naysaying voice pipes up focus, focus, focus on what is going to grow your business and increase your cash flow.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

2x Scaling A Business

Dec 27, 2018 41:48


Austin Netzley is a former athlete turned engineer, investor, entrepreneur and author. He is the founder of ONE Pursuit Investments as well as the host of the YoPro Wealth blog & podcast. Austin overcame $80,000 of debt and a middle class mindset to find financial freedom early on. At the age of 27, Austin left the corporate world to travel the world and scale his automated stock trading business while also doing what he is most passionate about - helping others take their money and mindset to the next level while scaling their business. He is the author of the bestselling book Make Money, Live Wealthy: 75 Successful Entrepreneurs Share the 10 Simple Steps to True Wealth



Podcast Highlights


Who is Austin Netzley?

Austin was just an ambitious kid growing up in a small town in Ohio that was just trying to find his way. When he was 18 years old, he made a decision that someday, somehow, he was going to be rich. He thought that becoming the CEO of a major business was going to be his ticket so this lead him to get his Engineering degree and some sales experience. But once Austin dipped into entrepreneurship, it opened his eyes and he hasn’t looked back.


Holding On To The Vision

Austin started out interviewing the most successful investors, entrepreneurs, and influencers he could find and learned that the details of their journeys to success were completely different. But the main steps were all the same, specifically making the decision.

When you make the commitment, the ‘how’ isn’t that important. You are committed to figuring it out, whatever that looks like. Your definition of success will change over time and that’s okay.

A lot of people wait until there is a lot of pain before making a change.

If you are still motivated about a decision weeks after you make it, you’re on to something. When you get into motion, you will encounter some roadblocks, how you respond will determine if you’re path is the right one.

The real question is “what do you really want?”

Wealth And Success

When Austin was growing up he thought that having money meant being wealthy. Despite earning six figures very early into his career he realized that money is only one piece of the wealth puzzle.

Austin had to look within and realize that what he really wanted was freedom. Freedom from debt and worry. He started his first business on the side and went all in. Financial freedom was way more valuable than the individual dollars in Austin’s bank account.

It’s less about how much you have than it is how you earned it.

Scaling A Business 2x in 90 Days

Success breeds success. There is a formula that small businesses that have found success can use to unlock their potential.

Most owners do not have a business, they have a hustle. The bottleneck in the equation is often the entrepreneur themselves.

Scaling a business means you have to let go of the desire to be the center of your business. Once you do that, you can scale rapidly. You are your own problem.

You have to get clear on what you want. Put it down on paper and compare it to the existing structure of the business then figure out what model you would need to achieve that vision.

Most entrepreneurs cannot say with clarity what they really want. The vast majority of the time you spend on your business is actually what is keeping you from getting out of the way.

Most entrepreneurs fail because they make things too complex.

This works across every industry because it’s not about tactics. Scaling a business is about strategic and timeless moves.

Austin’s Takeaway


Get out a piece of paper and draw a stick figure picture of yourself, date it. Write down on the left hand side the characteristics and qualities that you represented in the last six months. On the right hand side, write the Future and put down the characteristics you need to embody to achieve your vision. Your going to spend a lot of time in your business, you have to be intentional about what you’re going to get back from that business. You’re never going to outgrow your level of personal development. If seeing that laid out in front of you, you are probably not destined for that vision. Last step is to make sure your environment supports what you are trying achieve.




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Commercial Lending That Works

Dec 24, 2018 39:39


Leslie led the launch of Commercial Direct and oversees sales and operations for the entire small-balance commercial lending division of Bayview Asset Management, headquartered in Coral Gables, FL. She has been instrumental in driving productivity and growth for nearly a decade within the Bayview organization. Leslie’s key contributions include building a banker education program, managing the top 50 correspondent relationships, and leading expansion into international markets, as well as overseeing Project Management, Vendor Management and Process Engineering groups within Bayview Loan Servicing. An experienced financial services professional with more than 20 years in the industry, she is a frequent speaker and presenter for national publications and media outlets.


Podcast Highlights


Who is Leslie Smith?

Leslie started her career in a banking call center. That experience taught her to be fast on her feet and solve problems really quickly. This is where she developed her “spidey sense” superpower and allowed her to adjust to what her customers need and adapting to that.


She later moved on to another company that was originating commercial loans which is how she got into the loan business.


When Leslie was young, she wanted to be a Supreme Court Justice. Leslie has always aimed high for her career.


Commercial Lending

Small balance means a lot of things to lots of people. It typically means $250,000 to $2 million and Leslie’s average loan size is $400,000. Leslie’s company fills an important gap in the market because most lenders are looking to loan out much larger amounts.

Business owners that have made it through the recession have a story that says a lot about them. The person on the other side is almost as important as the data analysis that goes into making a deal.

Leslie’s business looks at more than just tax returns to understand how healthy someone’s business is. Tax returns are just a snapshot in time and don’t tell the whole story.

What could people do better to get access to the financing they are looking for?

People often underestimate how important their story is. Lenders want to know what your objective is and what your expected outcome is. Most people that come to Leslie don’t really have a good response to that question.

After the credit score, the most common reason someone is declined is inconsistencies in their story.

What challenges do women face in the commercial lending world?

One of the biggest challenges is representation. It’s hard to come into an industry without seeing someone like you that has done it already.

Leslie stopped taking it too personally and instead thinks about the misperception as an opportunity to open people’s minds to what is possible.

Early Challenges

Hiring the right team is definitely a challenge. Hiring slow and firing fast is very important, as an entrepreneur you don’t have the luxury of wasting money on a lot of bodies. Look for the unicorns, people that can take on a number of different roles.

Don’t just focus on your industry, look at other industries and what’s happening around you to make your thinking more free.

The most successful entrepreneurs are focused on solving a specific problem.

Commercial lending is a problem that many people need a solution to and Leslie is grateful for her chance to solve those problems. Real estate has a place in everyone’s portfolio, one way or another.

The Perfect Loan

There is no real perfect deal in Leslie’s world. She is agnostic to industry and business because they are looking motivation and circumstances very closely.

Leslie’s biggest challenge is getting in front of the people that want to buy commercial real estate. Many professionals that would be ideal clients may have never considered becoming the owner of the real estate they operate in.

AirBnB is market that Leslie is watching very closely. Testing new products in that market is something that Leslie is considering carefully.

Leslie’s Takeaway


Think about your story and be comfortable with telling it. Even if you don’t have a property yet, talk to Leslie and get a preapproval. At least you can go out into the world knowing you have the financing you need to get that investment.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

Writing A Book To Drive More Customers To Your Business

Dec 20, 2018 38:42


Gundi Gabrielle aka SassyZenGirl, is a Top 100 Business Author and Founder/CEO of SassyZenGirl - #ClaimYourFREEDOM, a platform that helps newbie entrepreneurs turn their passion into a thriving business. Gundi loves to explain complex matters in an easy to understand, fun way. Her “The Sassy Way...when you have NO CLUE!!” series has helped thousands around the world conquer the jungles of internet marketing with humor, simplicity and some sass. A 10-time #1 Bestselling Author, Entrepreneur and former Carnegie Hall conductor, Gundi employs marketing chops from all walks of life and loves to help her readers achieve their dreams in a practical, fun way. Her students have published multiple #1 Bestsellers outranking the likes of Tim Ferris, John Grisham, Hal Elrod and Liz Gilbert. When she is not writing books or enjoying a cat on her lap (or both), she is passionate about exploring the world as a Digital Nomad, one awesome adventure at a time. She has no plans of settling down anytime soon.


Podcast Highlights

Who is Gundi Gabrielle?

Gundi has always dreamt of travelling the world and achieving the freedom she was looking for, specifically generating passive income. She started off as a musician and a conductor but tired of the hectic life and looked for alternative ways to creating an income.


Gundi returned to California and many things happened all at once. She experienced a difficult time in her life that lasted quite a while, the entire time Gundi was looking for a way to start a business online. She learned from someone in a digital nomad group how they started their business by selling books on Amazon so she decided to give writing a book a try. That turned into her Sassy Zen series and really took off.


She learned that creating a best seller on Amazon wasn’t necessarily that difficult but continuing to sell books is the real challenge. She expanded her efforts into courses and using the books she was writing as sales funnels to draw people into her business.


The Digital Nomad

Gundi has lived in New York and Las Angeles but has also stayed in South Africa for three months, Australia, New Zealand, Thailand, Bali, Dubai, England, and has been based in southern Spain for a while now.

The opportunity to be everywhere is redefining work.


Marketing Your Business

You need to be a good communicator. Gundi ran her own ensemble as a conductor so she was learning a lot about marketing and networking without thinking about it as such.

Music and writing are both creative endeavors so there’s a lot of overlap and the skill of communicating with people applies to both.

We sometimes forget the opportunities we have in this day and age to start a business online and reach people.

Writing A Book

Short is the new long. It’s actually much smarter to write shorter books and create a series of them because then you build a brand they can cross promote each other. If people like one book, they often buy the whole series.

Being a best selling author is very important if you want to be a speaker or a consultant if you want people to take you seriously.

You can present yourself as a real expert in your field and by the time the reader finishes your book, they feel like they really know you.

You can turn cold leads into hot leads by getting them to read a book.

Writing a book will work in nearly any industry as long as you know how to market your book on Amazon and can get it found. Some are more effective than others like business, health, and self help.

25,000 words is probably as long as a “short” book should be. Aim for a lower price and then integrate it with your social media and whatever content you create.

Audio books have a place in this strategy and go really well as a package offer. Because Amazon ties everything together, any promotion you do for one helps the other.

You can also create a permanently free book as a lead magnet to bring people in to your world.

Writing a book has more prestige associated with it than a PhD for many people.

Amazon SEO is the key to keeping your books selling over time alongside promoting your books across all the content you produce. Promoting the launch allows you to ride the algorithm and then SEO takes over. Make sure you have a well designed cover, it’s the cover and the title that draws people in.

Don’t take it too seriously, writing dull and boring books is not going to work. It doesn’t take long to put together a good book if you know what you want to put into it.

Reference: Influencer Fast Track, Gundi Gabrielle

Gundi’s Takeaway


Listen to the training first and foremost, it will give you better sense and will show you that you can do this. You can also see examples of what other students have done and what the next steps are.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

The Difference Between Being Successful and Significant

Dec 17, 2018 45:11


It would be safe to say that Aaron Walker is a veteran entrepreneur. Having started over a dozen businesses during his four decade journey has been pretty awesome. Beginning at 18 years old and selling to a Fortune 500 company just nine years later set Aaron on an adventure of a lifetime. The secret sauce for Aaron can clearly be identified with these four attributes: grit, authenticity, determination and perseverance. The glue that holds it all together is his weekly involvement in Iron Sharpens Iron Mastermind groups. Aaron started masterminding 20 years ago with Dave Ramsey, Dan Miller and several other notable Nashvillians. Today, he spends time with his wife, two daughters and five grandchildren.


Podcast Highlights


What’s been happening with Aaron Walker?

Aaron is part of a mastermind called Iron Sharpens Iron and they are about to open up their 14th mastermind group. He also wrote a couple of books since his last appearance, created the Mastermind Blueprint, and is co-authoring a third book about finding the right mentor.

Why is margin important?

We all need margin in our lives. Accountability and trusted advisors are necessary to keep yourself in check. The idea of balancing life and work is a myth, things don’t need to be equal. The thing you need to do is prioritize your priorities and focus on what’s important.

You have to be an inch wide and a mile deep. What are the three or four things that are really important to your life? If you’re not careful, you’ll come home one day with a pocket full of money and house full of strangers. You have to spend an inordinate amount of time on the things that are important to you.

You only have one vantage point to see things in your life. Other people will have other filters you can use to see solutions that you can’t see. They can also help you see your blind spots.

Starting at the Beginning

Aaron almost lost his family because he was focusing on his business too much. There are seasons in your life and sometimes you need to focus deeply on work, but not all the time.

Money is a tool, you need to value it but not make it the ruler of your life.

The internet affords us so many opportunities now that it’s hard to choose what to do, this means that many people lack clarity.

Passion is an exhaustible resource, you need to have purpose if you are going to do anything long term. The more you teach and give away, the more that comes back to you. If it gives you energy, there is purpose at the end. If it drains you, it’s not your passion.

How can you add value today to other people’s lives? If you are intentional about it, you can build your work around your lifestyle.

Getting perfect clarity before you launch is a mistake. Getting the courage to get something going is the hardest part. There are so many opportunities to make money today, just find something you enjoy and get some mentors or coaches around you, then do it until you want to throw up. It takes 1 to 2 years to get a business going so you need to be committed.

The Top 3 Success Traits

The process is what’s important. You don’t rise to the level of your goals, you fail to the level of your processes. You need systems and processes to automate, eliminate, or delegate.

Is something takes you an hour a day, you have to be willing to take 30 hours to teach someone how to do that task. But if you do that, you will achieve a massive return on your time. What could you do with that hour back every single day?

You can get back money but you can’t get back time.

Why write books?

There are a lot of opportunities to learn today but books have some unique things about them that make them special. Books give you an authority you wouldn’t have otherwise and opens a lot of doors because of that. As good as your podcast is, there are more people who read books.

Books can also be a great lead magnet and can point people to your true call to action.

Writing a book is a great way to succinctly align your thoughts. If you can change the life of one person, would it not be worth it to write your book?

Mentors get out of people what they can’t see in themselves. Fear missing opportunity more than you fear failure.

Aaron’s Takeaway


Quit listening to your negative voices. Don’t be around people that are stealing your thunder, get around people that are encouraging and edifying you. You may have to get rid of some of your friends, you can’t fly with the eagles when you are running with the turkeys. Don’t let anyone steal your dream or tell you you can’t do it.




The Big Leap

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Private Lending Secrets From The Private Money Authority

Dec 13, 2018 45:25


Jay Conner has been buying and selling houses for 14 years and has been involved in over 52 Million dollars in transactions. For the past 7 years, Jay has completely automated his 7-Figure Income Business to where he works in his business less than 10 hours per week. He is a leading expert on Private Lending, once raising over $2M in less than 90 Days in private money while cut off from the banks. He is a contributing author to the best-selling book Real Estate: Getting Deals Done In The New Economy.


Podcast Highlights

Who is Jay Conner?

Jay didn’t grow up thinking he would be a real estate investor but he was raised in the housing business. Jay saw the potential of real estate investing in the early 90’s when a couple of friends had the opportunity to renovate and improve a property that their father put up the money for. They split the profit on the sale of that property and used it as the downpayment for their first home. That stuck in his head and he moved out of the corporate world to start flipping homes and investing in real estate.

When people say they love real estate, they probably don’t really mean what they’re saying. They actually love the benefits that real estate brings. There are not many strategies or vehicles that can give a person the kind of wealth, freedom, and return on their time that real estate can.

As long as someone is trading dollars for hours you will be limited as to your return and the money you can make.

Jay started out part time when he first began investing. He was the one talking to buyers and sellers, not his team. If somebody tells you that starting out in real estate investing won’t take some hard work, they’re wrong. You have to be dedicated and committed to following the systems and taking action.


Making Mistakes

Don’t go about this business by yourself, get a mentor or a coach to show you the way and avoid the minefields.

A lot of times we don’t realize what we have and we need someone else’s perspective. Don’t be so afraid of doing something incorrectly that you end up doing nothing.

One of the biggest mistakes in real estate investing that Jay ever made was not making sure that the rent could carry the expenses of the property in the event you have to hold it. Real estate can be a very forgiving type of investment because the cash flow it generates can give you some breathing room.

Creative Tools and Private Lending

One of Jay’s favorite tools is buying “Subject to”, it can be a very simple transaction and allows you take advantage of the interest rate that the seller has on their mortgage.

The most difficult times in your life often turn out to be blessings in disguise once you get through them. Jay worked with the traditional banking routes for the first six years of his career but ran into quite the challenge when the bank decided that they wouldn’t fund real estate investors anymore. That was how Jay discovered the world of private lending.

Until Jay got cut off from the bank, he had no reason to look anywhere else and would never have discovered private lending.

There are three categories of finding private lending. The first category are people you have an existing relationship with, your warm market. The second category are people that are not in your warm market yet but could be, get involved with your local church or community and meet some new people. The third category is existing private lenders that are already lending money out.

Why bother taking the time to share what you know?

Jay grew up with the mentality of serving. He noticed that many of his real estate investment friends knew nothing about private lending and that you can only get so much fulfillment and satisfaction by just making money.

The last stage in your life is called Significance and Jay realized that he could impact even more people by not keeping his secrets to himself and sharing what he knows.

Just like any other industry or business, real estate investing is constantly changing and Jay loves to stay on top of new strategies and techniques and let others know about them as well.

Reference: Real Estate: Getting Deals Done In The New Economy, Jay Conner

Jay’s Takeaway

Get the coach or mentor that has been doing it a while in place. Get involved with your local real estate investing association or join some local meetups. Hang around people that are like minded and on the same path at least once a month. Become a volunteer at your local REA and you will find yourself networking with people who are really successful and can share what they know with you. Never eat alone when you have the opportunity to spend time with other people you can learn from.




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Building A Team That Builds Your Business

Dec 10, 2018 40:45


Sean Zalmanoff is a respected Speaker, Coach, Loan Officer, Real Estate Investor, and host of Next Level Loan Officers Podcast. Sean entered the mortgage industry in 2002, where he spent the better part of his first year in the business learning all of the tips, habits, and ‘best practices’ that he has since determined to be the underlying reason why the mortgage industry is broken.

He knew there had to be a better way to run a business, so Sean started forging a new path for himself and his team, which lead him to the world of business and mortgage coaching. Sean now manages several mortgage offices throughout the country that produce over $100 Million in production, helping hundreds of people achieve the American Dream. Harnessing his greatest passion, helping loan officers, entrepreneurs, and business owners, Sean became a founding owner in Next Level Loan Officers, a coaching platform that not only helps people in their business, but all four pillars of their life; business, relationships, physicality and spirituality.

Sean’s mission through coaching loan officers is to help them achieve a work life balance in an industry that has lied to them and told them they need to be on call 24/7. By deploying his systems and strategies, he’s helped LOs and branch managers build a better work environment, more support, and better systems, while installing the technology to achieve it all.


Podcast Highlights

Who is Sean Zalmanoff?

Sean started in the mortgage business in 2002 and did the same things that everyone else did at the time. He realized that every day he woke up and knew less than he did the day before. Around that time he connected with a guy named Chris who opened his eyes to what he really needed to do, he realized that he who has the most friends wins.

Sean began to seek out specific partnerships and genuine relationships with realtors. Making friends with people is the ground floor for any profession you want to excel in.

Making Relationships

Social media friends are not as important as real life relationships. If you are not meeting your clients and partners where they are at, you’re missing out. It’s about finding the medium where people already are engaging them where they already spend their time.

The number one reason it’s hard to find a good loan officer is you have to find a loan officer that specializes in what you need, and the industry is very wide. Not all loans are the same, it depends heavily on your end goal and the strategy you’re using.

To find the right person to work with, you have to ask them two questions. “What do you specialize in?” and “Tell me about the last 10 deals you have worked on”. If someone says they can do it all, they probably aren’t good at anything. If someone specializes in big money loans, they probably aren’t very skilled at smaller residential deals.

Why lending?

Sean graduated in 2000 and wasn’t really ready for the real world. He had actually been making more than his friends as a bartender than they did at their “real” jobs.

Eventually Sean was convinced to work for a guy who owned a mortgage company that kept asking him to come work for him. He discovered that the job was a miniature version of the movie Boiler Room and learned a lot about what is wrong with the mortgage industry.

He took those lessons and flipped them on their head. After venturing out on his own, Sean realized that coaching other loan officers was something he was really passionate about. Working with people and helping them into their first home or assisting people with the entrepreneur spirit can be extremely rewarding.

Having clarity on what you do and what you are good at is very important.

Short Term Rentals

Government programs are not structured for short term rentals, but the real answer is if you do it right and make your payments on time for your investment property no one is going to be any the wiser.

Building A Team

You must have an amazing team. The mortgage market changes at a blistering pace so you need people who can find the answers they need to know. Understanding the highest and best use of your time is the key to building a team that can take the other tasks off your hands.

Depending on the market you are in, a good loan office will do 20 and 40 million dollars in loans a year. The more business that somebody does, the less products they probably offer.

Sean’s Takeaway


Get really clear on what you want and what matters to you. If you want to make more money, why do you want to make more money? Your why has to be so powerful that if you had a mountain in front of you and just a shovel to move it with, you’ll do it. If you don’t have that why, just stick with what you are doing right now.





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Building A Legacy That Lasts

Dec 6, 2018 44:27


Mike Cobb is the co-founder & CEO of ECI Development and President of Gran Pacifica. He has been named among the “100 Outstanding CEOs in Central America” by leading Central American magazine Mercados & Tendencias. At the height of a successful career in the computer industry, Mr. Cobb left to pursue more pioneering opportunities in the emerging real estate markets of Central America. In 1996, he and his business partner formed a company, Exotic Caye International, to provide loans to North Americans purchasing properties in Belize, Honduras and throughout the region.

As the need for capital outstripped the supply, the mortgage company was converted to an international bank under the jurisdiction of Belize. It continues to provide mortgage services, but has expanded its services to encompass the full realm of financial products. Mr. Cobb also saw the need for a regional real estate company that would serve the Baby Boomer consumer with a North American standard product for the next 2 decades. He led the group into real estate development and created a holding company for several properties including a resort on Ambergris Caye, Belize. In August of 2000, Exotic Caye purchased 3.5 miles of Pacific Beachfront property due west of Managua, Nicaragua.

This master planned community hosts world class infrastructure, homes and condominium units. In February of 2006, the ECI Development group acquired 1100 acres and 3 km of coastline in Costa Rica, setting the stage for expansion into this popular market. Most recently they merged their Belize property with a much larger parcel and have begun to develop 200 condominiums units on Ambergris Caye, Belize. Additionally, Michael has spoken at hundreds of international conferences about real estate financing and development.


Podcast Highlights


What has been happening since we last spoke?

Mike bought his very first rental property at the age of 30 in Belize, he wasn’t originally planning on buying a property but he was vacationing there and decided that he wanted to come back often. The property didn’t knock it out of the part but it gave Mike a place to start investing in other properties and start a business.

He has since purchased properties in Nicaragua, Costa Rica, and Panama with other deals on the go. Mike discovered a group of people he refers to as digital nomads that can work from anywhere that have a huge interest of living all over the world.


More and more people with children are picking up and moving overseas. It’s becoming more common for families to look outside the traditional paradigm and raising children in bilingual education systems.

In many cases, people in their 50’s are buying properties with the anticipation of using them as a retirement investment. For families, more people are just buying homes in other countries because the process is much more achievable now than it has been in the past.

Mike’s passion is in getting the word out. He is always shocked by people that say that all their net worth is tied up in the United States. Asset class diversification and building a legacy is very important to Mike and he tells people that the world is a big place with lots of areas to invest in.

Building A Legacy

There are major economic cycles that normal average people do not talk about, and the generational cash flow cycles that Mike loves to discuss are the ones that only the billionaires are really paying attention to. Building a legacy this way is something that the British have been doing for the past 200 years.

As strange as it may sound, timber has been the playground of the billionaire set for a long time but it doesn’t have to be exclusively for the ultra rich. Just take 10% of your investable net worth and turn it into a generational cash flow cycle. Timber is powerful wealth stewardship tool precisely because it is not liquid like other investments and you don’t have to commit to hundreds of acres to make it happen.

There is a lot of wisdom in taking the monthly cash flow cycle and turning it into a generational cash flow cycle.

You don’t need to know everything about timber in order to take advantage of it. Mike interviewed and hired a forestry company to manage his investment so that he doesn’t have to.

Even with a generational cash flow cycle, you can pace it out every single year so that after the first 25 years it can actually become an annual cycle.


Mike had an opportunity to purchase 2500 acres of Pacific coastline property in Nicaragua that he couldn’t pass up. This has enabled him to expand his vision to developing communities instead of just properties.

Mike’s Takeaway


The best part of the generational cash flow cycle is that it can’t be messed up, your kids have to wait.




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The Self Made Mindset

Dec 3, 2018 46:33


Nely Galan is the Former President of Telemundo and creator and producer of the FOX series "The Swan." She was the first Latina President of Entertainment for a U.S. television network and an Emmy Award winning producer of over 700 television shows. She founded The Adelante Movement to empower and train Latina and multicultural women. She is the bestselling author of Self Made: Becoming Empowered, Self-Reliant, and Rich in Every Way.


Podcast Highlights


Who is Nely Galan?

Nely Galan is an immigrant, her parents fled Communist Cuba to the United States. Many of the people that have left Latin America or countries in the Caribbean have a lot of trauma and are often grateful just ot be somewhere else. Nely had to be her family’s translator, therapist, and accountant all by the time she was 5.


Her superhero moment happened when she was in the seventh grade. Her parents realized that she was great in school and put a bet on Nely. When you see your parents struggle to provide for you, you become a very empathetic person. It was then she decided that she had to figure out a way to help her parents and she began selling Avon out of her locker to help pay for her schooling.


Would you consider your history as an immigrant to be your unique advantage?

Being an immigrant has given Nely values that most people in America have forgotten. She is self reliant and believes that she can do anything she sets her mind to. She also has a perspective that most people don’t about the state of the world.

Nely feels like there is an immense divide in this country, and people need to be compassionate to people who journey to the US in order to better their lives.

Nely was once accused of plagiarism while in her sophomore year of highschool and it was then she discovered that being empowered can change your life. Acting like a victim will not solve your problem. This experience actually became the springboard for Nely’s career working as one of the youngest editors at a magazine and getting into television.

Getting Into Real Estate

When you take a risk and do something from your pain, it can be the greatest decision you make and have the greatest impact.

Making decisions with limited information is much easier when you are empathetic to other people.

While working as employee #1 at the television station that would become Telemundo, Nely noticed that the owners were very interested in owning the building they were working out of.

Asking someone to be your mentor is very off putting, instead put yourself in the life of mentors you want so you can overhear their conversations and understand how they operate. Put yourself in the path of opportunity.

Not everyone is an entrepreneur day one, but if that’s what you want to do treat your job as if it were your business and think about what you would do. You can fast track your learning if you pay attention.

When you make money, don’t waste it on bling. Buy real estate instead, someday the real estate will be worth more than your business. Work your business, but real estate is historically one of the best investments you can make.


Just because Nely’s career worked out really well, that doesn’t mean she thinks college is a waste of time. Nely went back to school when she was much older and she realized that despite her success, one of the things holding her back was that she never really lived through all the phases of her life. Going to school allowed her emotional self to catch up with her intellectual self.

If we don’t see people like Nely who have succeeded, it’s harder to see ourselves succeeding as well. Nely discovered her mission and realized that she had to change the family system of multicultural families, and to do that she has to change the world.

Reference: Self Made: Becoming Empowered, Self-Reliant, and Rich in Every Way, Nely Galan

Nely’s Takeaway


We don’t finish things because we see people and see a grand vision, but life happens in baby steps. Next Sunday, take one thing out of your closet and sell it on eBay or Amazon. We all need a side hustle of at least one hour a week. Start there and put that money away and save up two years of salary. Break down your yearly goals into weekly goals and then daily steps. It’s amazing what you can get down in  a year. The most important thing you can do is build wealth.





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Protecting Your Confidence

Nov 29, 2018 39:50


Michele is the founder and CEO of Nectar Consulting Inc., and co-author of the best-selling book “Breakthrough Healing”. She works with executives and entrepreneurs bringing over 25 years of experience, intuitive insights and strategic business savvy to their success. She is an expert at enhancing the capacity of leaders, to build high performing teams and exponentially increase bottom-line results.

Michele’s unique Rapid Rewiring™ approach is a culmination of years of study in the realms of emotional intelligence, neuroscience, organizational psychology and Rapid Transformational Therapy. She helps catalyze shifts in thinking and eliminate mental/emotional blocks to rapidly rewire your brain for greater confidence and success.

As a nationally recognized speaker, certified executive confidence coach, Rapid Transformational Therapy (RTT) practitioner, change management consultant, trainer, and writer, Michele’s passion for helping amplify natural talents and expand leadership is conveyed through all aspects of her work and writing.


Podcast Highlights

Who is Michele Molitor?

At Michele’s heart she is a creator. She was a graphic designer and creative director for many years before she got into coaching and hypnotherapy. Her capacity to listen and be compassionate and help people eliminate their pain led her to what she currently works on now.

Her work in the creative field and web development brought Michele from Atlanta to the San Francisco Bay area. She was in middle of an IPO with her company but their plans were derailed when the market crashed. A few months later Michele was actually bullied out of her job which shattered her confidence and put her in a very difficult situation. Her uncle recommended that she get a coach to regain her confidence and it was then she discovered her true calling as a confidence coach.

We all have junk in our trunk that keeps us from moving forward. After discovering Rapid Transformational Therapy Michele’s life started to shift, she had found the missing piece of her puzzle.


Working With A Confidence Coach

Some people have therapists and see them twice a week for years without seeing any real progress in their life. A confidence coach is all about moving people forward towards their goals, by combining RTT with coaching Michele has been able to get long lasting for her clients in 30 to 60 days.

RTT allows Michele to have a conversation with your subconscious mind where your limiting beliefs live. Those beliefs stay there until a new belief takes its place.

One of the principles of the mind is that it can’t hold two conflicting beliefs at the same time, but the subconscious mind can hold onto beliefs that create a dissonance with the conscious mind.

The more you tell yourself a thought, the more true it becomes for you. You can change the channel and one day you will wake up and it will be your new reality.

Fear can manifest itself in a variety of ways, including physical ailments. Michele has helped people overcome several kinds of addictions, migraines, and other physical problems. RTT allows you to manage your fear response.

What is the most common issue you help people with?

A lot of entrepreneurs work with Michele to find the confidence they once had after some sort of event changed the way they think about themselves. The surface request is usually something like “I want to increase my sales” but it’s typically much deeper than that.

One of Michele’s superpowers is to see her clients heart and help them see it as well.

Typically clients come to Michele when something in their life isn’t working any more and they realize that they need to try something different in order to make a change.

Life is short and we all have the ability to live happy, thriving lives but many of us actually sabotage ourselves when things get too good.

Reference: Breakthrough Healing, Michele Molitor

Michele’s Takeaway

Tell yourself that you absolutely can. Write down your goals and get clear on the outcomes you want to achieve. Tell yourself that you are enough, you always have been enough and always will be. From there you can achieve anything you want to.




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Achieving The Lifestyle You Always Wanted With Turnkey Real Estate

Nov 26, 2018 47:51


Jeff Schechter, aka “Shecky” has had the entrepreneurial bug his entire life. He started his first business right out of college, and over the years been involved in numerous businesses ventures. His love for real estate investing began in the 1980’s, when he rehabbed 5 of his own residences, before the term “house-hacking” even existed.

Since those early days of torn up kitchens and bathrooms, he’s bought and sold many properties, and is an active investor to this day. In addition to investing, he operates a private consulting practice. He thrives on helping people realize their full potential...not just in business and investing, but in all aspects of life.


Podcast Highlights

Who is Jeff Schechter?

Jeff remembers getting the question “what do you want to be when you grow up?” and always answering “rich”. He always knew that he wasn’t destined for a mainstream career after dabbling in many different things including dropping out of college. Shecky is a diplomatic rebel at heart.

Whenever someone tells you what sort of path you are going to follow, it’s not going to be truly you. A rigid defined path restricts the room you have to discover who you really are.

There is a lot of talk about following your passion but the reality of the situation is you have to go out and try a lot of things to figure out what works for you. As you get better, it becomes much easier to be passionate about what you’re good at. Hone your craft and it becomes easier to find your passion.

The Courage To Fail

Not being married gave Shecky the ability to be a little more risky than he otherwise may have. That being said, if you are married with kids that doesn’t mean you’re off the hook.

Failure is not a negative, it is a necessary stepping stone to success. Your other option is to live a life of quiet desperation. In the age of the internet, there are no excuses. Whatever you want to do, you just have to learn it and you can do it. It’s much easier now to be an entrepreneur than ever before.

Before the internet, you had to shell out a lot of money to reach people and network. Starting a company required plenty of overhead, money, and effort. Now you can create a business with almost none of that, the barrier to entry is willingness, not money.

The willingness to “figure it out” can be your greatest resource. There are always ways to hack the system if you are thinking like an entrepreneur.

Turnkey Real Estate

The two arenas in the world that build the most wealth is network marketing and real estate investing. There are a lot of different angles to real estate investing that can make it very exciting.

You have to understand what your specialty is.

Jeff found his business partner Jack by working with him as a client. He approached him with an idea for a turnkey real estate business that took on a life of its own. There has since been a long period of evolution in the business and it had undergone many separate transformations.

Property management became a major hurdle for the business and the investors and ended up becoming another service Jeff had to offer. There were a lot of obstacles that had to be overcome before they could offer true turnkey real estate.

Financing was one area that Jeff didn’t need to explore due to picking the market of Indianapolis. With cash flowing properties, it becomes very easy to refinance and use the money to purchase more investment properties.

Jeff’s Takeaway

You have to learn to separate the intellectual conversation that is going on in your head with the feeling of the soul conversation, sometimes that means meditation or just being quiet. Do your due diligence before making a decision, you have to not only be convinced intellectually, you have to feel good about it. Listening to the intellectual voice that says you probably can’t do something will lead to you to stand still, and you learn nothing new standing still. Failure can teach you the lessons you need to learn to achieve 10x more. Feel the fear and do it anyway. The more you do things you’re afraid of, the easier they become.




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Commercial Real Estate Investing Strategies That Win

Nov 22, 2018 46:33


Hunter is a full-time real estate investor and founder of Cash Flow Connections, a private equity firm based out of Los Angeles, CA. Since starting CFC, Hunter has helped more than 250 investors allocate capital to over 100 properties. He has personally raised more than $20mm in private capital and controls more than $60mm in commercial real estate.

Hunter has been featured in Forbes, Globe St., Inside Self-Storage, as well as a variety of other media news outlets, podcasts, and radio shows. Hunter is also the host of the Cash Flow Connections Real Estate Podcast, which helps investors learn the intricacies of commercial real estate investing strategies from the comfort of their home, car, or office.


Podcast Highlights

Who is Hunter Thompson?

Hunter realized he was an entrepreneur as soon as he understood what money was all about. At a very early age he had been obsessed with providing for his customer’s needs.

When Hunter was in highschool, he was running events and providing DJ services for other highschool students. After poker became a mainstream competitive activity, Hunter had decided to become a professional poker player. He moved to California and fell in love with the state and decided to stay even after poker was no longer an interest for him.

The ability to make decisions with a limited amount of information gave Hunter a good foundation once he transitioned into real estate. Once the government made playing poker online illegal, he had to make a decision about what to do next. This crisis in the poker world also created a unique opportunity for people to invest.

Decision Making

When the stock market took a nose dive in 2008, Hunter wasn’t already invested so instead of getting crushed by the decline, it was an opportunity to invest when the market was low.

Most people are trying to accomplish the same basic things financially, predictable outcomes and cash flow to pay off their expenses. The problem is the stock market is not a great vehicle to accomplish those goals.

The European debt crisis led to Hunter realizing that economic circumstances across the world could devastate his portfolio which led him to look for ways to mitigate those risks, which is where his real estate investing strategies came in.

You don’t need piles of money, you need streams of income. There are many different paths to success in real estate to achieve that.

Earning Trust

Knowing who to bet on is the key to establishing a good track record. Understanding the systems that others have put in place is a way to establish trust, you can leverage the work that other people have already put in and shorten the curve considerably.

Early success often leads to the belief that success comes easy. After running a live event with the goal of drumming up investments generating literally zero buy in, Hunter realized that even with success business can be a challenge.

The reason the event was unsuccessful is that it required a pseudo religious experience for the people attending and their beliefs to radically shift from faith in the stock market to something completely different. Creating a infrastructure that attracts investors to you rather than chasing people is much more effective.

Commercial Real Estate Investing Strategies

People not in the business have pretty much no idea what a real estate deal really looks like. Having data to backup your ideas is always a good plan.

We are currently in the 111th month of the expansion cycle of the market, nearly the longest period of economic growth in history. The way that mania happens is a change in mindset where people start to think the current state is the new normal.

50% of the wage earners in the United States make $30,000 a year. When looking for investment vehicles, Hunter looks for investments that perform in all stages of the economic cycle. Investments like mobile homes and self storage make the most sense.

Investments where the tenants act like they own the place they live are generally the ones you want to consider. Finding the right operational partner takes the most work so when you find a good one make sure you treat them right.

Self storage is recession resistant because people typically use them during transitional periods, many of which can be brought on by a recession.

The benefits of single family homes is the simplicity in the asset class, which is great for the average investor. But a self storage investment has a lot of room for optimization, which means they have a higher opportunity for major gains for someone who can manage it well.

Hunter’s Takeaway

The most important thing you can do is educate yourself. The content available today puts the info that was available 8 years ago to shame. Go all in on education and you will become a better investor. Focus is the keyword.





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Connecting eCommerce Entrepreneurs

Nov 19, 2018 40:12


Barth wants to live in a world where no eCommerce entrepreneur ever feels alone or has to vehemently defend to friends and family that leaving that corporate job WAS a good idea. As an executive for 20 years at a large cooperative in the flooring industry, he experienced how, joining together, independent retailers leveled the playing field with vendors and armed them with tools for their businesses to thrive.

He brings that perspective as President of the Empowery eCommerce Cooperative to make the eCommerce world a better, less lonely place. Barth is an avid outdoorsman, triathlete, woodworker, golfer, beekeeper, arborist and a wannabe farmer. He lives on an old dairy farm 50 mil es from Pittsburgh in idyllic Ligonier, Pennsylvania.


Podcast Highlights

Who is Barth Getto?

Barth grew up in a vibrant community of manufacturers where they believed that the good times would never end. Barth was able to witness the rise and fall of many established businesses and learned that creative destruction can’t be escaped. Will our great grandchildren remember what Amazon is?

The major lesson everyone can learn from history is that everything changes and if you want to stay alive you have to be able to adapt.

Entrepreneurs have to be around the right people and the framework and structure to stay ahead of change.


eCommerce Cooperatives

Cooperatives usually confuse people but almost everyone has been a part of a cooperative at some point. It basically means that the owners of the cooperative are also the shareholders. The idea of the cooperative actually predates the Declaration of Independence by 24 years.

Everyone in eCommerce has to deal with similar issues like third party logistics, inventory financing, and dispute resolution. The Empowery eCommerce Cooperative help eCommerce entrepreneurs negotiate better prices and help them stay on top of what’s going on in the industry.

The cooperative levels the playing field for eCommerce entrepreneurs and get economies of scale in place. Individually, entrepreneurs may not be able to sway a giant platform like Amazon but together they can negotiate on an even level.

There are lots of eCommerce platforms beyond Amazon including Rakuten, Bonanza, Etsy, Ebay, and Wayfair. Even dominant players will eventually fall from the top of the market.

Working with a cooperative like Empowery is like having a safety net and a roof over your head, it allows eCommerce entrepreneurs to freely innovate without having to worry as much.

Getting Started With eCommerce

Barth wants to see more people successful with eCommerce, if you’re just getting started feel free to reach out. The more programs you use within the cooperative, you get more cash back which can directly offset the membership fee.

Because the individuals own the shares, the whole idea of a cooperative just doesn’t seem to get much press. Barth has been explaining the idea of a cooperative the same way for the past 20 years.

Barth’s Takeaway


There is a ton of bad information out there, the best way to get started selling online is to connect with Barth. He will point you in the right direction and once you get big enough, you can join Empowery!





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Strategic Real Estate Coaching

Nov 15, 2018 36:43


Chris Prefontaine is a bestselling author and real estate investor with over 26 years of experience in the field, including 18 years as a builder, realtor, broker/owner and investor. He’s always been an entrepreneur even when he didn’t know it. When he used to drag his wagon up to the street corner and sell junk from his closet or when he used to purchase gum by the pack and sell by the slice in middle school.

In 1991, Chris began building homes and built 100 homes before starting his own brokerage. He then become a broker/owner and was selling 100 homes a year with his small team. Since the 2008 debacle he realized he needed to reinvent his business so that he no longer had to use his own money or credit. After years of strategic real estate coaching independently, Chris founded Smart Real Estate Coach in 2014. The company coaches investors on how to scale & automate their business throughout the US and Canada- all without using their cash or credit. Chris and his team, which includes his kids, have done over $80 million in real estate transactions.

They mentor, coach, consult and have Associates around the country doing exactly what they do. On top of that, they run their own buying and selling business so they’re in the trenches every single week. Between their existing Associates around the Country and their own deals, they’re still doing 5-10 properties every month and control as of now between $20-$25 million of real estate with little to no money down.


Podcast Highlights

Who is Chris Prefontaine?

Chris started building single family homes in the 90’s and moved into being a broker for a while. After selling the brokerage to Coldwell Banker, he got back into various real estate construction projects and got hit really hard in the 2008 financial crisis. The crisis taught Chris many valuable lessons that he’s carried forward to today.

Strategic Real Estate Coaching

Real estate changes a lot. Chris made the change to broker/owner and back out again due to changing life circumstances and changes in the industry. 

Working with real estate is an opportunity for Chris to work with his family and keep taking on new challenges.

The 2008 financial crisis didn’t make the business bad, it made Chris’s decisions bad. He took the setbacks he suffered as a reason to reengineer the way he structured deals and thought about real estate investing.

Find a mentor, but not just any mentor. They have to be in your niche, still doing what they talk about, and you can relate to them.

Not pledging any of your personal assets is way better than having the stress of the liability that many real estate investors take on.

Working With The Banks

When your credit is perfect, it’s very easy to walk into a bank and get the money you need but things go bad, you’re on the hook. The bank will throw you under the bus if it means saving their own job. Don’t pledge your assets lightly. If you have it, protect it.

You should work with a real human being that is likely to say thanks rather than a faceless corporate bank.

Coaching and Mentoring

Chris dabbled in strategic real estate coaching in the early 2000’s as a job and in 2013 was asked by a local Navy guy who heard about what Chris did and asked him to teach him. Now he has a number of students/partners that he teaches around the country. He teaches them while they do the deals together.

Real estate professionals know that a number of different kinds of deals will come your way. Chris teaches people to become master transaction engineers so they can handle all sorts of different kinds of deals.

When you buy on terms and protect yourself the way that Chris does, it doesn’t matter what the market does.

Is real estate optional?

Real estate is not optional. What job could you do that could possibly pay you as much as working with real estate that also gives you the time to do what you want from wherever you want? It’s not about the money, it’s about the things that the money can help you buy. Real estate investing allows you to design the life you want and build your own dream.

Paralysis by analysis is real. When you get started, put your blinders on and do exactly what your mentor tells you to do. Have faith and stick to it for however long they say.

Chris’s Takeaway

Choose a mentor asap. Success leaves clues. Pick a mentor based on the criteria stated earlier and within a month you will know you’re on the right track.




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Scaling Your Business To Seven+ Figures

Nov 12, 2018 38:10


Allison Maslan is the President of Business Coaching Agency. She was named “One of the Top Women Entrepreneurs Who Inspire” by Self Made Magazine. She is the bestselling author of Blast Off!: The Surefire Success Plan to Launch Your Dreams into Reality and the new book Scale or Fail: How to Build Your Dream Team, Explode Your Growth, and Let Your Business Soar.


Podcast Highlights

Who is Allison Maslan?

Besides being a business owner at heart, Allison is also a trapeze artist. When she discovered that you could actually do what you see in the circus, she began training with a five generation circus family and now she can really fly. She even built a trapeze ring in her backyard.

Allison grew up in an entrepreneurial family. Her father built the largest chain of women’s clothing stores in the US. Watching her dad build his dream inspired her to build her own. If you want something go create it yourself.

At the age of 19 Allison started her own business and by the age of 25 it had evolved into a full service advertising business. Like most entrepreneurs, she had no idea how to run her first business.

Getting It Right

The plan comes in the doing. When you have a product or service, you just need to put it out there. Don’t worry, be crappy.

Get it out and then perfect it along the way.

You have gifts inside of you, your purpose is to share them with the world. The idea of perfection keeps people small.

Getting Unstuck

If you are using the same mindset and strategies in scaling your business as you did when you first started your business, you are going to fail. You have to rebuild your company from a higher level.

To scale you have to take big leaps, you have to be able to stop micromanaging your team and even be willing to let yourself go.

Scaling Your Business

You will hit a wall if you are the one providing the product or service. You have to train other people to do what you do if you want to scale. Your clients just want to be taken care of and it doesn’t have to be just you.

Scaling your business really means to duplicate and multiply. There are five phases to scaling your business: the solopreneur, the pioneer, the ringleader, the co-creator, and the visionary. Each phase comes with its own set of challenges. If you want to scale, you have to build a team and be willing to let go of the controls.

Scaling can take time or it can happen as soon as three years in. Scaling can happen too fast as well, if it grows too soon it can become unstable and fall apart. The longer you can stay with a single focus, the more stable it will be for years to come.

It’s time to scale when you keep hitting the wall and are frustrated with working all the time for the same results.

Being Present

Business owners can be really hard on themselves, it’s important to recognize your accomplishments along the way. You should be enjoying the process.

Having a mentor is crucial. New level, new devil. Every time you get to a new level of business, you will face things you have never faced before.

Reference: Scale or Fail: How to Build Your Dream Team, Explode Your Growth, and Let Your Business Soar, Allison Maslan

Allison’s Takeaway

Make decisions from where you are going, not from where you are at. To really scale you have to pretend that what you want has already happened and work backwards. It’s amazing what happens when you start taking action, the people show up, the money shows up, the support shows up, but you have to be willing to take the leap.





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The Science of Getting Rich

Nov 8, 2018 44:42


David Neagle is the bestselling author of The Millions Within: How to Manifest Exactly What You Want and Have an EPIC Life!. He is one of the architects of the coaching and personal growth industry, and has spoken or worked alongside Bob Proctor, Marianne Morrisey, and Tony Robbins.


Podcast Highlights

Who is David Neagle?

David was a person that was truly confused about the meaning of life. He came from a place of dysfunction in childhood and sought the answers to his questions from his teachers, parents, and mentors but no one could answer him. He ended up venturing on his own and turned into a curious kid on the wrong path in life.

He could really relate to the idea of “I don’t like what I am doing, but I don’t know what to go do.” At some point, David made the decision to follow the desires of his own heart which put him into a different emotional state, and his results soon changed as well. He wanted to set up his life so that he could do what he loved, with the people he loved.

Why do we feel like we need permission?

We are raised to believe that we need permission in order to advance in life. Permission is subconsciously linked to security which is something that is vital to human beings. The proper role of a parent is to turn over the power to make decisions to their children as they grow over time but many dysfunctional families end up with children taking care of the parents instead.

We live in a world of conflicting ideas and information, without a set of core values to guide us through life we begin to look for others to guide us and tell us what we need to do.

Questions About Suffering

Are we meant to suffer? David had a near death experience when he was younger that completely changed his perspective on life and brought a sense of urgency to his life.

David was working six days a week and couldn’t earn more than $20,000 a year and felt stuck. He was emotionally and physically exhausted while on the job one day that he had a complete breakdown and asked for direction. He received the answer “change your attitude” and decided to act like he loved what he did, do every job to the best of his ability, and treat everyone with respect from then on. Within 30 days he went from $20,000 a year to $62,000 and realized he was on to something big.

Your attitude determines your altitude.

The Science of Getting Rich

For years the book The Science of Getting Rich had been around David but he always thought it was a book about economics, that was until many people told him he had to read it. After reading The Science of Getting Rich in a single afternoon, he realized that it contained the answers he was always looking for.

Once he got clarity, David was able to make positive changes to his life much faster. Lack of clarity is the primary obstacle in people’s lives.

There is so much conflicting information in the world and if the information you discover conflicts with the principles you were raised with, it creates an internal battle. Until that battle is resolved, it’s impossible to get clear on your life.

Where did the courage to teach others come from?

David was waking up in the middle of the night for six months. Every night he awoke with the thought that if he wanted to live his dream, he had to leave, but he didn’t understand what it was that he had to leave. He called his mentor Bob Proctor who told David to just quit. He learned that the decision always comes first.

You always get what you need when you need it. You will not replay a pattern in your life that you haven’t experienced before.

To grow you have to acknowledge the desire in your heart. The conflict that comes in for a lot of people is they believe that’s irresponsible. There is a lot of uncertainty in people’s mind about how resilient they are.

When you connect the result to the action and the thought, everything in your life changes. True wealth is the awareness to manifest whatever you need in life.

Reference: The Millions Within: How to Manifest Exactly What You Want and Have an EPIC Life!, David Neagle

David’s Takeaway

The first thing is to change the concept of who you think you are. When you hear the voice that tells you about all the things you did wrong in the past, it shapes your concept that you are flawed. Making mistakes is not a flaw, it’s how we learn. Embrace the idea of making mistakes and growing rapidly. Step into your purpose. Make a solid decision to take an action on something which creates momentum and opens the door to the next decision. Opportunity often shows up as misfortune or temporary defeat, when you make the decision to focus on what you want your awareness will expand and then it becomes a process of saying yes to the things that will move you forward.




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Eliminating Risk By Being A Nomad Capitalist

Nov 5, 2018 43:47


After starting and selling two successful businesses in the United States, Andrew left the country to travel the world and become a true nomad capitalist. While he always had an independent, entrepreneurial streak, he had followed the conventional wisdom of the time in a few ways that ended up costing him. He had invested a sizable portion of his money in mutual funds and real estate. When the stock market crashed in 2008, much of his savings disappeared and sensing the risks of the looming mortgage loan crisis, he managed to get out just in time and avoided losing even more money.

On top of this, he had also just taken a huge loss in taxes after selling the businesses. The feeling of losing the fruits of his labor to something out of his control was quite devastating. It was extremely depressing to realize that while crony capitalists were succeeding at manipulating government policy, job creators running small businesses like him were essentially getting the shaft.

While Andrew knew something was wrong with the system that he was willfully participating in, and he no longer wanted to play casino with his money, he still wasn’t sure of a solution. After having to call a business client while in Asia, it hit him that he no longer needed to be tied to one location to make money, and that each location offers different advantages to optimizing your business and lifestyle.


Podcast Highlights

Who is Andrew Henderson?

Andrew’s story begins in his childhood. He learned his five magic words “Go where you’re treated best.” from his father by accident. He started thinking about this idea when he was 12 years old, and has been working on that idea for the last 22 years and it’s emphasized by his company, Nomad Capitalist.


Nomad Capitalist Investing

We are conditioned from childhood that the United States is the best country in the world, but it’s rarely the best in any category and that counts investing. We have a tendency to take small things in other countries and blow them up and minimize problems we see in our own country.

Everyone has the tendency to believe they live in the best place, but how can we all live in the best place?

You can live in California and invest in Georgia or anywhere else. Starting small by opening a bank account in another country is a good start. You’ll realize that there are opportunities all over the world.

Do what you need to feel comfortable with travel and the rest of the world. Start making observations about investing and business opportunities while you travel, establish your objectives for your business and start thinking about which place would serve them best.

Hire someone to work backwards based off your objectives. Working with Nomad Capitalist is a great option. You can’t just want to run away from something, you should be running towards something.

It’s not a matter of knowing every option when it comes to all the countries of the world. Banking in Georgia works similarly to banking in the United States. The notion that everywhere else is different is incorrect, we are all pretty similar overall and institutions function similarly as well.

Real Estate Investing

Property investing in the United States can be a viable way to start a cash flow business overseas. Look for the best place to invest for you but consider diversifying your holdings into other countries as well.

It’s a lot easier to start with wealth or cash flow behind you, but it is possible to start a business with a small amount of money by living in an inexpensive country and extending your runway. Bootstrapping isn’t for everyone, but it is an option. Tax optimizing a business makes the most sense once you’ve gotten started and are generating revenue already.

Cryptocurrencies have a place in your investment portfolio just like any other diversification.

Internet Entrepreneurs

The current state of the economy in the US is almost forcing people into entrepreneurship. A lot more people are starting internet businesses and the world is becoming more open.

There is a wide range of people that are exploring opportunities all across the world from young internet entrepreneurs who realize that California is a terrible place to start a business, and business owners that have established themselves and see the increased opportunities elsewhere.

Start with your objectives and then work backwards to find out what’s needed, don’t open a foreign bank account or set up an offshore company for no reason because that is when you get into trouble.

Andrew’s Takeaway

You have to be fully comfortable with the process. Book a plane ticket and see the world. Where you go is not as important as the process of doing it. Go with your gut and find a place that you think you can be comfortable with. The first step is to move yourself.




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Character Development and Overcoming Resistance

Nov 1, 2018 39:54


Angela Duckworth is the Christopher H. Browne Distinguished Professor of Psychology at the University of Pennsylvania. She is the Founder and CEO of Character Lab, a not-for-profit whose mission is to advance, the science and practice of character development and the author of the New York Times bestselling book Grit: The Power of Passion and Perseverance.


Podcast Highlights

Who is Angela Duckworth?

Angela grew up in New Jersey with a father that had extremely high standards. Her experience growing up led her to become fascinated by the mechanics of success, character development, and who gets left behind and who gets ahead. She realized that so much of what we do in life is a result of our passion and perseverance.

Are entrepreneurs born or made?

Entrepreneurs are mostly made, but they do inherit their genes from their parents. There is a lot to be said about what happens after you are dealt those cards from your parents though, in a lot of ways you are made by your experiences and your mentors.

Perseverance, Grit, and Character Development

Angela’s frustration as a teacher is what led her to studying grit. Being able to see around the corner and watching her students give up too early led her to wanting to understand psychology, which is essentially the study of human nature.

It’s never easy to know when you should quit. If your life has a goal it can help you figure out how to approach a problem, if it’s just a means to an end, maybe you can find another means to get to that end.

Grit is often unrelated to talent, success in the long run doesn’t seem to correlate to talent as much as to perseverance. The only thing that matters is the mission.

To build a culture of grit in your company you have to model passion and perseverance. Don’t be shy, share your passion that is beyond the 9 to 5. You don’t need to show strength all the time, showing vulnerability and how you came back from a setback is a great way to show dedication.

Angela’s husband told her that if she didn’t write the book about her character development research someone else would, during the process of writing the book she discovered that people who exhibit grit have somebody in their life that believes in and supports them.

Outside Motivation

Someone telling you that you can’t do something will often put a fire in your belly, but the question is what happens after success? The people who can continually approach life as if they are an underdog even if they are on top is a signature of people who focus on excellence instead of complacence.

Behind almost every high performer, there is someone who encouraged them and helped guide them towards success.

Quitting The Right Things

If your feelings are getting in the way, seek a trusted advisor to give you an outside objective perspective. If your best friend would tell you to get out something, maybe you should.

Nurturing Children

Kids are best off when they are challenged and supported. Have a family rule that everyone has to do a hard thing and they aren’t allowed to quit in the middle. Start young and give them a choice in their hard thing and they will learn responsibility.

Character Lab

Character Lab is about helping parents and teachers use science to help their children and students with character development and grit. It’s all supported by institutions so all the resources are free.

Reference: Grit: The Power of Passion and Perseverance, Angela Duckworth

Angela’s Takeaway

Look for a small win, grit is about the long game. Organize your life so there are daily and hourly small wins. Do something today that you are confident you can do. It will be a microstep in the direction you want to go, but one microstep after another is how you start your journey.





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Jordan Goodman Answers Your Money Questions

Oct 29, 2018 36:25


America’s Money Answers Man Jordan Goodman is a nationally-recognized expert on personal and business finance. He appears frequently on The View, Fox News Network, Fox Business Network, CNN, CNBC, CBS Evening News and several other major TV, radio and podcast outlets.

For 18 years, Jordan was on the editorial staff of Money Magazine, where he served as its Wall Street correspondent. While at Money, he reported and wrote on virtually every aspect of personal finance. He has also written or co-authored 13 best-selling books on personal finance including Master Your Debt, Fast Profits in Hard Times, and Barron’s Finance and Investment Handbook. He has written six special-focus editions of Everyone’s Money Book on College, Credit, Financial Planning, Real Estate, Retirement Planning and Stocks, Bonds and Mutual Funds.

Jordan also hosts the Money Answers Show on the VoiceAmerica Business Network, which recently crossed 100,000 downloads per month.


Podcast Highlights


Who is Jordan Goodman?

Jordan has always had a passion to help people make better financial decisions. At the age of 12, Jordan was writing a youth baseball column for his local newspaper and liked to sell the left over newspaper to tourists. He tries to help people by looking at the financial needs they have and finding a solution for them.

Writing has always been a passion for Jordan, his first published book was a dictionary for financial investment terms which sold 3.5 million copies and is in its 10th edition.

After 18 years of writing for Money magazine, Jordan was getting more opportunities than he could take and he decided to go out and do his own thing. A lot of entrepreneurs quit their day job before they have anything going, it can work out but it will be much harder. Jordan had been writing on his website for years before venturing out on his own. He now focuses on the money answers that people are looking for everyday.

What are the most common money questions?

The first challenge people are experiencing is getting a decent yield on their money without having all the volatility of the stock and bond markets. Jordan is on the board of a company called Secured Real Estate Funds that enables people to get an 8% yield by investing in commercial real estate.

Inflation is pegged at 2%, but in the real world, the prices of everything are going up much faster than that, especially when compared to income. People lose purchasing power by leaving their money in a bank account.

Reinvesting In Your Business

You should diversify your money. Even if your business is a great place to invest your money, you should still invest in other areas. Many industries that made huge amounts of money for a long time can still get hit by large market events like a recession, and that could be your business too.

For an employee, you can invest outside quite easily. As an entrepreneur, your life typically is your business which can make investing outside quite difficult.

Tackling Your Debt

The reality of the situation is 70% of people graduate school with some amount of debt and the average debt is $39,000. This is an enormous burden and can delay these people from getting started with their lives.

You can refinance your student loan debt by working with a company called Credible, typically at much lower rates.

Mortgages are usually the biggest debt people will take on, but there is a process that allows you to pay off your mortgage in 5-7 years without taking on more debt. You use a HELOC to control the flow of your money and drastically reduce the interest rates you pay on your mortgage.

The more pressing the need, the bigger the market is. Finding solutions to problems people have is a great way to build a business.

Reference: Master Your Debt, Jordan Goodman

Jordan’s Takeaway

The most important thing is to know there is a demand for what you’re offering. If there is a demand and you’ve got some kind of special edge, you can make it happen but demand can’t be theoretical. If you’ve got some credit, it can definitely help. Real estate is a people business when you get down to it. You must have the entrepreneur mindset if you’re going to go out on your own.




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The Principles Of Sales Greatness

Oct 25, 2018 46:30


Jeffrey Gitomer is an internationally recognized sales, customer loyalty, and personal development speaker and New York Times bestselling author of The Little Red Book of Selling: 12.5 Principles of Sales Greatness, Jeffrey Gitomer's Sales Bible: The Ultimate Sales Resource: Including The 10.5 Commandments of Sales Success, The Little Gold Book of YES ! Attitude: How to Find, Build and Keep a YES! Attitude, Customer Satisfaction is Worthless Customer Loyalty is Priceless: How to make customers love you, keep them coming back, and tell everyone they know , The Little Black Book of Connections: 6.5 Assets for Networking Your Way to Rich Relationships, and The Sales Bible: The Ultimate Sales Resource, and the new book TRUTHFUL LIVING: The First Writings of Napoleon Hill. He has won numerous speaking awards.


Podcast Highlights

Who is Jeffrey Gitomer?

Jeffrey grew up in a family of business people and identifies as a businessman, not an entrepreneur. He had some great genes and was born smart enough to realize that he had to decide what to do with his mind. Everyday when he wakes up, he always does one or all of the following five things: Read, write, prepare, think, and create.

How much do you do for yourself when you wake up? Everyone has a choice about what they do with their allocated time.

Entrepreneur vs. Businessman

A businessman is someone who has been in a family that has been in business for themselves for generations. Entrepreneurs are people who buy a franchise.

Why do sales have a bad reputation?

Jeffrey has done the work to understand sales and has sold millions of dollars worth of goods.

Cold calling is a terrible place to make a sale, but a great place to learn selling. People don’t like to be sold, they like to buy. You have to engage them enough so they want to buy.

Pressure, guilt, and manipulation are the reasons why sales have a bad reputation. It’s the classic case of the used car salesman. If you are consistent in your value message offerings, your business will grow. Anything less than weekly is not enough, you have to find ways to keep the message going.

The art of sales is making the other person feel like they aren’t being sold.

Letting Go Of The Sales Process

The first thing you have to realize is that you have to let go of some of the things that you think the business won’t be able to live without. Napoleon Hill

Jeffrey read Think and Grow Rich 10 times in 1972, after a while he understood Napoleon Hill’s philosophy and beliefs, while also working with a few other sales people on the same path. It all comes down to giving value first.

There is life enhancing elements in the book that will make anyone who reads smile and do better.

What do you want to do and how bad do you want to do it? Then, what are you willing to do to fulfill that emotion? Whoever wins, desired it more.

Most people don’t have self confidence or self belief unless it is foisted on them by someone else. Deposit before withdrawal, give without expectation of anything in return.

The best way to get a referral is to give one.

There are five words that define someone’s ability to become successful: Imagination, desire, enthusiasm, confidence, and concentration. Concentration is the glue that makes everything happen. If you’re enthusiastic and committed, people will buy from you. Do things for love, not for money.

Become so committed, you become emotional about it.

Thoughts become things.

Reference: Truthful Living: The First Writings of Napoleon Hill, Jeffrey Gitomer

Jeffrey’s Takeaway

Rather than foaming at the mouth at what they are thinking, try starting the conversation by asking them what they think you are capable of. Most people give feedback in terms of themselves, and they think they are better than you. If they can’t do it, they are going to believe that you can’t do it. Talk to someone who has been in business for 20 years and see what they think. Try to seek wisdom instead of advice. If you’re on the fence, err on the side of the thing you love. Find a peaceful place and think it out.





Sell or Die Podcast

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Lead Generation Secrets That Will Transform Your Real Estate Business

Oct 22, 2018 46:59


Chris Watters is best known for building an independent brokerage utilizing the team-centric model in Austin, Texas. He built his business, Watters International Realty, in the middle of the Great Recession and in a highly competitive market that is home to some of the largest national real estate chains. His vision and entrepreneurial spirit led him from sleeping on his girlfriend’s (now wifes) couch in 2010 to becoming the first team owner to EARN $1Million in net income in three short years.

Fueled by a desire to improve the success rate of real estate agents through proven training and innovative consumer-facing programs, Chris has built his business on helping others push past their self- imposed limitations and adding massive value to the consumer experience. In 2015, Watters International Realty began opening branches across Texas and partnered with other successful agents and team leaders, assisting them in duplicating our success. In 2016, his team successfully closed over $100+ Million in sales and helped hundreds of families in the purchase or sale of their home.

As of 2017, Watters International Realty is now a national franchise system that has developed a proven and repeatable model to help expansion partners grow their brokerages using the team model. His partners have the ability to replicate the key ingredients used to make Watters International Realty in Austin, the recipient of the #1 Real Estate Team by the Austin Business Journal, Inc. 5000 Recipient for Fastest Growing Privately Held Company and the recipient as one of the top real estate teams reported by Real Trends in the Wall Street Journal.

Podcast Highlights


Who is Chris Watters?

If Chris had to think of himself as a superhero, the one that comes to mind is The Hulk. Bruce Banner was more focused on research and learning, wasn’t super flashy and was more introverted, and Chris identifies with his humility.

Real estate was not Chris’s focus initially, in college he ran a lawn mowing business that paid his way through school and he preferred to take classes on the stock market. In his younger years, he liked to learn how to build websites. All of which had nothing to do with real estate.

Chris’s path into real estate is a long winding tail that goes from working in real estate for a few months, moving into the oil and gas industry, losing everything in trying to run a bar and restaurant, rebuilding his life by starting a lead generation company, and then ultimately getting back into real estate. During the process, Chris became psychologically unemployable and being an entrepreneur was his only option. His time in the oil and gas industry actually allowed Chris to learn a lot about the back end technical aspects of real estate that most agents never get to see.

Lead Generation and Real Estate

As a young man, Chris was pretty ignorant of the risks of running a brokerage but he managed pretty well. His skills with lead generation turned out to be perfect for the business, he was generating so many leads that he had to hire more people just to handle the deal flow.

In the B2C world, lead generation can be easy. Google Adwords, retargeting campaigns, and content creation work pretty well. SEO is great too, but it’s a long term play and paying for Adwords is a much faster process. It’s about leveraging the low hanging fruit.

The stage of your business dictates the lead generation strategy you should be using. If you’re a small business with a limited amount of money, you should go after the cheaper lead sources. The more expensive forms of lead generation like TV ads and direct mail take time to become effective but they have a very high conversion rate.

Why write the book?

Chris was 21 when he got into real estate, and the only reason he got out was he didn’t see the path to a higher income, he didn’t understand how to scale his career. Once he started building the business, he wanted to show his people exactly how the trajectory of their career should go.

The only reason you lose talented people is they don’t see any upward trajectory. Tony Robbins says “Happiness is derived from progress.” When you find amazing people, you must have a clear upward trajectory for them.

There are three distinct phases of growth you go through as a business. Every business has seven key pillars that have to be leveraged as they grow. The vision, mission, and core values are what inspires people to join your organization and share your purpose.

Every lead generation strategy has a cash conversion cycle, some mediums require more time and money before you start seeing an ROI from the efforts. Marketing is not something you do in jolts, it’s an ongoing thing and takes time to ramp up and develop the brand equity.

Just Getting Started With Lead Generation

Start a local business person mastermind, after a few months ask them to commit to being a preferred vendor in exchange for a contribution to your lead generation efforts.

Reference: The Million Dollar Real Estate Team, Chris Watters

Chris’s Takeaway

You have to embrace the journey of the suck in the moment, zoom out and realize that this is just one point in time in your journey to mastering your new business. Keep perspective when you are starting something new and it will keep you from beating yourself up. Check out Awaken The Giant Within by Tony Robbins.




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Digital Marketing For Small Businesses

Oct 18, 2018 49:29


Kade Wilcox is the owner and CEO of Primitive Social, a digital marketing agency focused on helping companies grow. Primitive Social works with clients all across the country to craft digital solutions that help them meet their objectives and reach their goals. Kade’s career started as both the Executive Director of a children’s camp and serving on staff at Redeemer Church where he managed operations, leadership development and church planning efforts.

In 2011, Kade and his wife Lacey started Primitive Social, providing social media support to small local businesses. In 2013, Kade and Lacey connected with Jerred Hurst (now co-owner of Primitive Social) to focus on growing the company to help others grow their businesses. Over the past three years, Kade has helped transform Primitive Social from a 2 person team into a multi-million dollar company with nearly 50 employees!


Podcast Highlights

Who is Kade Wilcox?

Kade grew up in a small town of only 350 people and a lot of his experiences in sports and the local community shaped the way he viewed the world. Learning how to work hard and rely on the people around him taught him many valuable lessons on the way to his entrepreneurial journey.

When you are part of a small, tight knit community you share the good and the hard times. This means you learn how to depend on other people.

Developing a Vision

Kade was always a dreamer and no one tried to squash his dreams when he was young, this fostered his ability to develop a vision of the way things could be. Having people that support your vision and dreaming is crucial as well as having the opportunity to try to make your dream a reality.

The self made person is a myth, to be successful as an entrepreneur you have to be able to lean into other people. That ability is one of the most important things an entrepreneur can do.

People want to love their work, if you as the entrepreneur don’t nurture them as individuals and foster the environment that enables them to work, you won’t be able to run a successful company.

Leadership is superior to managing. Management is organization and structure and it’s very important, where leadership is more about helping people be the best they can be in their work as well as the rest of their life.

Kade’s business originally started out as a side hustle but eventually grew into a real full time business. When you have a small team, everyone is doing everything. When you grow your business, everything changes including the culture.

Every dynamic of an organization changes at each different life stage of a company.

Digital Marketing for Small Business

Primitive Social can support a business on nearly every element of digital marketing including custom software and websites, inbound and content marketing, and video marketing.

The common element between Kade’s clients is a clear set of goals and a focus on digital marketing that they can measure.

Digital marketing has changed the marketing landscape, stop doing things that you can’t measure the impact of. Digital marketing can be measured dollar for dollar on the direct impact to your business.

The people who are not successful are the ones that focus on tactics over strategy. Who is the audience, how can you add value to them, and where are they?

Prioritize your goals and your budget, there is always a new platform to explore but you don’t have infinite resources to spread out to every platform. Focus on the basics, develop a strategy and then stick with it for a few months.

You may not like Facebook, but it is still the number one platform to reach your ideal audience.

The first step is to have a helpful website, then focus on the basics of social media and email. Email is another channel to be over-the-top helpful. Even if you’re only doing the basics, measure your results and data.

There is a big difference between content that is helpful and content that is spam. Segmenting your data and speaking to your audience about the things they want to know more about is key. If you’re just getting started out, Mailchimp is a solid tool to begin with. If you’re a little further down the road, Hubspot is a great choice too.

Kade’s Takeaway

Evaluate your website, most people when thinking about a service go straight to Google. If you’re going to be a successful entrepreneur, you need to be resilient which means you can’t quit at the first failure or resistance. Use obstacles to learn more and become better.




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Leveraging Earned Media To Get In Front Of Your Ideal Clients

Oct 15, 2018 47:37


Christina Nicholson is a former TV reporter and anchor who has worked in markets from New York City to Miami. With her business, Media Maven, she helps entrepreneurs reach thousands, even millions, of their ideal customers or clients in minutes instead of months through the power of media without spending big bucks on advertising. We’re talking coverage in Forbes, the Today Show, Washington Post, and more!

You can still see her in front of the camera as a host on Lifetime TV, in national commercials, on WPTV for her monthly segment, and read her work online in Huffington Post, Inc. Magazine, and Fast Company.


Podcast Highlights


Who is Christina Nicholson?

Christina has always looked telling stories through media, she’s someone that likes to hear, read, or watch a good story. The things that resonate online are stories.

She started writing stories from an early age and now her daughter is following in her footsteps. Being in the media has always been something that Christina has wanted to do, even when she was child in her family’s home movies she pretended to be a news anchor covering the story.

Traditional TV media is a very competitive industry with only a handful of positions available in a large city. Christina spent hundreds of dollars sending her resume tapes to studios in different markets and she didn’t get her first job offer until two years of effort.

Is themedia more competitive today?

Media isn’t necessarily harder or easier than it was years ago, it’s just different. In the beginning, you would have a photographer that would follow you around, today, you are responsible for everything yourself. The nature of media has changed, what used to be earned media in editorial is slowly turning to paid. This is why influencer marketing is picking up.

If something is obviously an ad, the audience is going to ignore it.

You have to be savvy with social media and be everywhere all the time to succeed in today’s media environment.

Has does an entrepreneur attract attention to get their story out?

The biggest secret to getting earned media coverage without spending money is to give the journalist what they want and need, when they want and need it.

Your pitch should talk about the journalist and what you can do for them, not what makes you so important. You have to ask why people will care.

A lot of coverage comes from timeliness, it creates a sense of urgency around the story.

What if someone is afraid of being on camera?

You don’t have to be on TV, you can be on print, online, and on podcasts. There are lots of different kinds of media that don’t require you to get in front of a camera.

If you want to reach more people, you have to get comfortable in front of the camera. Start with videos at home and get some practice in. Any interview on TV is just a conversation, just like when you’re on a podcast.

What does it take to get earned media?

A lot of people will call you promising to get you into the media, but they are actually just advertisements. Earned media can’t be guaranteed. Be careful of someone that is promising you something.

Pay attention to what is breaking in your industry, if you position yourself correctly you can get into the media in a single day. You have to be pitching different people with different ideas so that you don’t come off to spammy.

Journalists are on Twitter, if you want to build relationships you should engage them on where they spend a lot of their time. Get clear on where the ROI is and who you need to get in front of, then ask what media serves that purpose. Start building your media list and adding value to the journalist to build a relationship before you pitch them.

What you do after you get the earned media is what will determine whether or not you come back. The easier you make it for the outlet, the more likely you be invited back. Share the piece with your followers and tag the outlet.

How do you measure earned media ROI?

Measuring media ROI directly is very difficult. The truth of the matter is you can’t guess how people will react. If anyone has a definitive answer, they are lying.

Christina’s Takeaway

The very first step is to get clear on your goals, where you want to be and why you want to be there. People get excited about the media coverage in general but you have to be strategic. Be specific to who you are reaching out to and target your niche directly. It’s better to reach out to 10 people a week in your niche than 1000 people a week in a broad category that may not care about what you do.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

Building A Real Estate Empire

Oct 11, 2018 48:32


He is a bestselling author, a seasoned trainer, a captivating speaker, a real estate investor, and property manager with two decades of experience. There are many ways you can describe Bryan Chavis, but one comes to mind above all else: a tenacious entrepreneur. Bryan has spent the last two decades building successful real estate ventures. On this episode of the CashFlow Diary Podcast, Bryan explains how there is nothing wrong with the last time you failed, failure is the greatest teacher. Every day is a new day and a new opportunity, shake off that voice or it will ride you to the grave. Next, spend some time alone and figure out what you really want. Develop your spiritual side. Work on yourself and invest in yourself. You are going to make it and you are going to lose it, your character is tested by failures and opportunities. Do not fail in the same area twice.


It’s Easy To Find Good Help These Days With Freelancers

Oct 8, 2018 35:38


Nathan Hirsch is an entrepreneur and expert in remote hiring and eCommerce. He is the co-founder and CEO of FreeeUp.com, a marketplace that connects businesses with pre-vetted freelancers in eCommerce, digital marketing, and much more. He has sold over $30 million online and regularly appears on leading business podcasts around the world.


Podcast Highlights

Who is Nate Hirsch?

Nate’s parents were both teachers and he grew up with the mentality that he would go to college, get a job, work for 40 years and retire, but he always wanted more.

During his summer vacations, his parents made him work at least 40 hours every week. This gave him a ton of experience in sales and customer service, but it was also where he realized that he hated working for other people. For Nate, college was a ticking clock where he had to figure out a way to start a business before he got into a regular job and could never escape.

Nate’s parents definitely had reservations about him becoming a business owner. By the time he graduated, Nate had been running an Amazon business where he was making more money than the job he had lined up after school. When he made his decision, they saw the success he was having and supported him in his pursuit.

The Amazon Side Hustle

Nate is the kind of guy that when something is bugging him, he tries to take action and fix it. When he went to college, he realized that the school book store was ripping him off so he started his own textbook business. It got to the point where he had so many customers lining up to sell their books, the school sent a cease and desist letter because he was stealing too much of their business.

Nate knew books weren’t going to be a long term solution so he started experimenting with other products. He failed several times before stumbling on baby products, which is where his business really started to take off. He got really skilled at finding good deals and tracking down manufacturers.

What kept you going?

There are two things that Nate learned from his experience with Amazon: he had to stop being afraid of failure, and to not care what other people thought. He had to block the negativity of other people out in order to succeed.

Amazon to Freelancers

Nate’s accountant was the first person to ask when he was going to hire his first employee. He initially thought that was a terrible idea until he went through his first busy Christmas season, where he almost went crazy. He made it through and posted his first job offer. This is when he hired a bunch of people who didn’t end up working out and realized there must be a better way.

Nate came to the realization that no 30 year old expert wants to work for a 20 year old entrepreneur. This is how he ended up looking to marketplaces like Fiverr and Upwork, but even then Nate found the experience frustrating and time consuming. He thought there had to be a better way, which is where the idea of Freeeup.com came from.

You can have five different people hire the same person, and each one is going to have a different experience.

No matter how much you prepare for a busy season, it’s always crazy.


The whole concept behind Freeeup.com is free up your time, the third ‘e’ in the domain name stands for eCommerce.

With Freeeup, you create a free account and it essentially works like a Tinder for hiring. You tell them what you are looking for and they will introduce you to someone within one business day.

Freeeup covers all replacement costs in the scenario where a hire walks away half way through the project.

There are over a hundred skill sets on the marketplace that you can tap into, all the way from data entry to the top marketing experts.

Any freelancers on the system are contractors so paying taxes is up to them.

When should you hire a freelancer?

There are two ways to go about hiring. Figure out everything you do on a day to day basis and then figuring how to get your time back. You create systems and processes and hire people to take them over. Alternatively, you can try to turn weaknesses into strengths by identifying what you’re bad at and hiring specialists who have that covered.

You need to hire when you are focused on day to day operations and can’t focus on growth or when you find yourself spending a lot of your time doing things you’re bad at.

Customer service is one of the hardest areas to create SOPs for but they are one of the most critical. Your processes are always changing, so having a central document that everyone can access is how you make your business scalable.

You could work a hundred hours a week as an entrepreneur and still find things that you should have done sooner.

Nate’s Takeaway

Step 1: figure out what you are trying to hire for. Step 2: identify what your perfect hire looks like. Step 3: don’t just look for skill in the interview, look for passion, communication, and attitude. Step 4: set expectations up front. Step 5: make sure people know what you like and don’t like. When feedback is encouraged on both ends, you’re going to set yourself up for success long term.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

The Blockchain Revolution Will Change Your Business

Oct 4, 2018 45:47


Don Tapscott is the CEO of The Tapscott Group. He was Founder and Chairman of the international think tank New Paradigm before its acquisition. He is currently the fourth most influential management thinker in the world according to Thinkers 50. He is the Chancellor of Trent University and bestselling author of Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World, Wikinomics: How Mass Collaboration Changes Everything, and Grown Up Digital: How the Net Generation is Changing Your World. On this episode of the CashFlow Diary Podcast, Don explains how the blockchain revolution will change your business.

Having a Vision in the Real Estate Industry

Oct 1, 2018 35:57


Eddie Lorin is a multi-family real estate veteran with over 40,000 units transformed and over $3 billion transacted (acting as either Principal or Advisor) nationwide. He is passionate about helping communities have access to affordable housing and improve the quality of life.

Eddie Lorin is the Founder of Impact Housing REIT, company that focuses on both impact investing and multifamily real estate to provide financial, environmental, and social returns to its investors. He is also the co-founder of Healthy Apartment Property Initiative, a 501C3 nonprofit that provides free on-site social, health, and wellness programming for families living in apartment communities.

Podcast Highlights

Who is Eddie Lorin?

Eddie Loren prides himself as a dreamer, a doer, and a proponent of the underdog. He shares that his childhood was filled with love and respect while living in a small apartment with his single mother and siblings. Losing his parents at a young age became a pivotal point in Eddie’s life. At the age of 17, he was learning to live and survive alone. He remembers how tough it was emotionally, psychologically, and financially.

‘Just one more day.’ This is what he uttered to himself every single day. According to Eddie, as bad as things come into your life, take in mind that there could be worst. And instead of letting them get him down, he just looked forward, had hope, and dreamed for the day ahead.

From his experience and his empathic observation of his surroundings at that time, he wanted to make a difference in the world. Eddie’s mission now is to provide clean, safe, and affordable housing for working class. He does this through his company Impact Housing. He’s also very outspoken on criticizing inflated housing prices in America.

Having a vision in the real estate industry

It wasn’t the easiest road to take when he started in real estate. While trying to make a name for himself in the industry, there were so many bumps on the road he had to pass through. First, he experienced being taken advantage by people because he was always ‘the nice guy.’ He learned that he had to be firm and also respectful to get his message across.

There was also a feeling of despair, angst, and turmoil from time to time. He drove them away by calming and meditating. He always taught himself since then that from every mistake, you gotta keep going wherever your goal is.

If one thing was made clear during those times, it was the fact that real estate is where he needed to be. At first, he tried dealing with commercial and industrial properties. But then he discovered that in multifamily business he can make a lot of money and at the same time help the masses. And thus, the birth of Impact Housing.

Eddie says that his ultimate gift is having a vision in renovation. Just one look at an old property, he already knows how to turn it into something different. He says that he finds those properties through his connections or a brokerage community.

Do well and do good simultaneously.

Eddie chooses to invest on B and C class properties and turn them into something better rather than stick with the A class. Well, aside from the reason that A class properties don’t generate cash flows, he’d choose the option where the masses will be more benefitted.

He was an expert in creating value for the property and making it not just livable but also a quality affordable housing for everyone. If he doesn’t renovate B & C properties, he brings the people together at apartment communities. Through Healthy Apartment Initiative, a nonprofit that he and his wife started, he provides free on-site social, health and wellness programming for families living there. He is also urging apartments to have community gardens to promote healthy living.

It’s always a matter of priorities according to Eddie. You can choose to prioritize money or prioritize changing the lives of others.

The Future of Real Estate

It’s always challenging to buy the right property and properly transform them to make them affordable for the low-income earners especially in the inflated housing prices in America.

He tries to seek help from the government just to make sure that tenants are paid well to keep their housing. He hopes that the poor will be given priority. For example, low-interest vouchers or housing loans can be given to them. He also suggests public-private partnerships especially when incomes are stagnating and rents are rising. The private sector should step in and offer help to the unfortunate ones.

Eddie’s Takeaway

For the future entrepreneur who’s about to enter real estate, Eddie Lorin advises that you look for appreciative capital. Go for people who are going to appreciate you and what you do. Make sure they are on the same page as you do. Also, investing has more impact if people who are really in need will be the ones who’ll benefit.

If you’re still on the fence, Eddie says to let go and remember that fear is not rational. Whatever you’re compelled to do, if it’s sound and you’ve done your research, get ready to bounce and let go. If you don’t let go, it will keep you from being who you want to be.





Blockchain Real Estate

Sep 27, 2018 48:13


Matthew is the CEO and Founder of QuantmRE, a cryptocurrency startup that supports homeowners by helping them sell a fraction of the equity in their home without taking on more debt.

A seasoned entrepreneur, Matthew has a proven track record in real estate innovation through his experiences as Co-Founder of the $50M Secured Real Estate Income Strategies Fund, and as Founder and President of Crowdventure.com, a real estate crowdfunding company.

Previously a stockbroker and corporate financier in the City of London, he worked with Richard Branson’s corporate finance team, was appointed Director and Trustee of Virgin’s London Air Ambulance, is a helicopter pilot in his spare time and is the host of his own podcast, “Hooked On Startups.”

Podcast Highlights


Who is Matthew Sullivan?

The question is are you born an entrepreneur or do you become one? Matthew wasn’t one of those people who were entrepreneurs at the age of 7, but he has always been fascinated with challenges that were not the focus of his current job. He realized that he was essentially unemployable at that point.

Solving Problems

Finance is essentially a set of rules and processes and you can navigate that world the same way as technology. There are a lot of similarities between crowdfunding and the blockchain.

Real estate is great because it is real and tangible, it’s something that we often take for granted. Combining real estate and technology comes with a lot of opportunities to create new efficiencies and increase the value of real estate as an asset class.

Real estate is a tool, but it’s often slow and cumbersome. QuantumRE is trying to change that by creating a new asset, blockchain real estate.

The Impact of Blockchain Real Estate

When the blockchain was first introduced, most people didn’t see the importance of it, including Matthew. The blockchain is basically a layer of truth that cannot be changed, altered, or influenced. It means that you don’t require a third party to ensure an element of trust. The blockchain turns all of that trust infrastructure into programming language that ensures certain events will happen without any outside trust requirements.

For real estate, if you could automate the process of buying a home you can increase the liquidity of real estate immediately and make international transactions more easily.

The real friction with real estate is the time and the processes that are involved with changing ownership, and the reason for that is the world that it evolved. Blockchain technology will take real estate from analog to digital and eliminate the need for trusted third parties.

Cryptocurrencies are a way of exchanging value on the blockchain, the key to the blockchain becoming widely adopted is people trusting the stability of future cryptocurrencies. QuantumRE plans to issue its own cryptocurrency that is backed by a portion of the equity in your home.

The issues with HELOC’s is that lenders often stipulate how you spend the money, with QuantumRE the money is yours to spend as you want. It can actually be an additional source of funds for people who have reached the limit of their ability to borrow but still have equity in their property.

Where did QuatumRE come from?

Start by looking at the problem you are trying to solve. Great ideas are nice, but they don’t matter much without solving a specific problem. The issue with Bitcoin was that it was unpredictable and hard to understand what it was backed by. The solution Matthew came up with was blockchain real estate, a new cryptocurrency backed directly by real estate.

Matthew’s Takeaway

Fear is a temporary lack of information. The thing that stops people from doing something is fear, the thing that solves the problem is to start doing something. You need a certain amount of naivete to start a business, if you knew everything you may not start anything and then you wouldn’t learn anything. Get the shovel dirty. You should treat your business like a project and a learning experience until it becomes successful, so if it doesn’t work out you can go back and start again.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

Ralph Welborn On Growing Your Business In The New Economy

Sep 24, 2018 45:33


Ralph Welborn is the co-author of Topple: The End of the Firm-Based Strategy and Rise of New Models for Explosive Growth. CEO of CapImpact, he specializes in advisory and predictive analytics for new growth models. He is a former head of IBM’s strategy and transformation business in the Middle East and Africa. Sajan Pillai is the CEO of UST Global, leading the company’s founding team of 20 in 1999 to more than 18,000 employees in 21 countries today.

Getting To A Positive Cash Flow

Sep 20, 2018 41:26


Bill Janeway is the Vice Chairman, Managing Director, and Senior Advisor at leading venture capital behemoth Warburg Pincus. He is also the Co-founder of the Governing Board of the Institute for New Economic Thinking (INET) and part of the faculty of  Economics at Cambridge University. He is the author of the new and updated bestselling book Doing Capitalism in the Innovation Economy: Reconfiguring the Three-Player Game between Markets, Speculators and the State.


Podcast Highlights

Who is Bill Janeway?

Bill has spent his entire life trying to answer that question. He was always pretty smart in school and ended up going to Princeton and later on to Cambridge. He eventually stumbled into the world of finance and helping entrepreneurs build their businesses.


Unicorns and Positive Cash Flow

When you are building something new, you have to build hedges against things that you can’t know in advance. Part of that is cash. Positive cash flow is the source of the ability to grow without having to worry about being caught by surprise. The internet has enabled companies to grow in ways that allow them to burn cash before reaching profitability.

As interest rates start rising, the digital Unicorns will need to get to positive cash flow sooner rather than later. Even Uber is coming under pressure to exercise discipline and get to where it’s customers are paying the bills and not the investors.

How does understanding innovation help entrepreneurs build their business?

Technology is increasingly accessible and cheap. You can grow your business incrementally without a lot of upfront costs. A lot of new tech businesses are being bought when they are still small, this is often the best way to succeed and is a huge shift in the way technology gets out into the world.

Design your business to be purchased by someone else. You should be asking if it’s the right time to sell at every stage of growth in the new business.

As an entrepreneur, you have one interest which is the growth and the value of what you are doing. Selling part of the business too early to a major customer can potentially short circuit the path to positive cash flow.

When it comes to technology, being different is more important than being better. When it comes to people, the founder doesn’t build a business alone, they need the right team to succeed.

Reference: Doing Capitalism in the Innovation Economy: Reconfiguring the Three-Player Game between Markets, Speculators and the State, William Janeway

William’s Takeaway

Understand the market you are addressing, but make sure you have the cash you need to fall back when things don’t go the way you hoped. A great idea without the cash to put it to work, is just a great idea. You need partners and access to the fuel in order to succeed.




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Low-Interest Business Funding With Fund&Grow

Sep 17, 2018 45:18


Mike Banks is the COO and Marketing Director of Fund&Grow and works directly with CEO Ari Page. With over 8 years of success and growth, they have built a thriving business based on offering exceptional service to their customers and a dynamic and rewarding work environment to their employees.

Fund&Grow specializes in helping Real Estate Investors and small businesses get Business Credit Lines to fund their investments and obtain capital to grow. F&G builds up to $250,000 at zero percent interest for 12-18 months, the accounts are unsecured so there’s no collateral needed, and they don’t show up on the personal credit report.

Fund&Grow has raised over $200M in 0% interest business credit funding for its small business clients, last year alone raised $40M.


Podcast Highlights


Who is Mike Banks?

Mike is a regular guy who figured out how to make money and help people. He dropped out of college after realizing it wasn’t going to lead to the life he wanted and got into sales and that’s when he met Ari. Mike took a lot of knowledge from his previous jobs to Fund&Grow that helped them grow substantially in only seven years.

Why are SOP’s so important at Fund&Grow?

If you don’t know what you are doing, you can’t repeat it and have consistency. You have to record the policies and procedures. Even when it comes to requesting a testimonial or a review, that needs to be documented in order to get results.

Your reputation is impacted by your procedures and your ability to deliver results that matter efficiently and effectively.

Don’t bore yourself with the monotony of Standard Operating Procedures in the beginning, focus on revenue first. Once you do something a couple of times, it may be a good idea to document it.

If you’re going to grow your business, you have to record what you’re doing.

Low Interest Business Funding

Business credit lines and business credit cards usually come with 0% introductory interest rates and they don’t show up on your personal credit report. If your credit is in good shape, you can get the lines set up within the next 3 to 4 weeks.

You can use these type of funds for anything you need for your business. For people with a credit score of 700 or higher, you don’t have to prove income and don’t need a history in order to take advantage of these offers.

Fund&Grow has relationships with the banks that make the process much more streamlined and you can often get much higher amounts approved in less time.

30% of Mike’s clients are credit challenged and there are still options for those people. They are very effective at cleaning up credit reports and also offer short term instalment loans that allow them to move personal debt to business debt at low to 0% interest.

Mike’s Takeaway

Don’t listen to that relative or voice, even Mike has had moments where he questioned his business. Fund&Grow is enabling people to chase their dreams and achieve their goals, they would be more than happy to help you out.




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School for Startups

Sep 13, 2018 38:47


Jim Beach is the Executive Director of International Entrepreneurship and Founder of the Entrepreneur School. He is the author of School for Startups: The Breakthrough Course for Guaranteeing Small Business Success in 90 Days or Less and the new book Free Radio & Podcast Marketing In 30 Minutes: Fire your publicist and leverage free radio and podcasting to market your business, brand, or idea.


Podcast Highlights

Who is Jim Beach?

Jim was the guy who got fired from respectable businesses all the time. He saved Coca-Cola over a billion dollars and they still showed him the door. They essentially told him to go be an entrepreneur instead because they thought he didn’t fit in with the culture. Jim went back to school and started looking for ways to earn money to afford the tuition. He ended up starting a summer camp business that went so well he ended up leaving school.


Why didn’t you consider yourself an entrepreneur?

Jim always considered himself a corporate person, he always wanted to work for a big company and the security that came with that. It was also before the time that entrepreneurs were considered rock stars like they are today.

Jim had been a summer camp consumer as a kid so he had some experience with the idea beforehand, but it was really just the last idea on the list.

Breaking even on the first year wasn’t actually an issue, since the business had already had the same number of people signed up in the future, Jim knew the business was growing in the future and they had stumbled onto a working formula.

School For Startups

You can be cash flow positive year one in business. By leveraging the existing branding and marketing of the schools they associated with and responding to the needs of the consumer, Jim created a remarkable business.

Involving someone else’s brand name goes a long way towards establishing trust with your prospect. Import the best brand names you can, it’s a great way to differentiate your business and it’s not as hard you think.

Go and ask ten businesses to sponsor, put together a proposal and start sending it. There are a lot of businesses that may want to be associated with your company.

There are thousands of radio shows and podcasts that consistently need guests and they are a great way to spread your message. That goes for guest blogging as well.


Jim’s Takeaway


Jim is able to shut up his voice by saying one thing: “I’m not going to waste a bunch of money.” Jim promises to experiment with a business but limits his risk to $5000, it becomes an easier way to get started and succeed. The bar to success is significantly lower too. If you reduce your startup capital, you change the game. If you think you can’t start your business with only $5000, you’re probably wrong and someone has most likely already done something similar. Take the small risks, not the big risks.





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90 Days To 5k: Passive Income Real Estate Investing

Sep 10, 2018 43:05


Edna Keep, author of Multiple Ways To Wealth: Creating Your Prosperous Lifestyle and real estate investment teacher, has a deep understanding of what investors want in a deal. As a former financial advisor, Edna helps connect investors with everyday people who want to create true passive income for the long term.

Edna’s team has a portfolio of $60 Million they built in less than ten years on primarily multifamily units and primarily with none of their own money. Her process is proven, which she now teaches through coaching and her Mastermind groups.

Edna lives near Regina, Saskatchewan between Calgary and Winnipeg with her husband Warren and teenage daughters Desiree and Dhani.


Podcast Highlights

Who is Edna Keep?

Edna recalls a teacher that once told her she was very social and if she could only channel that ability, she would inevitably become successful, despite the fact that she was barely passing his class!

Whenever Edna has a challenge, she tends to call her key people and brainstorm with them, she prefers to think on her feet. Her natural curiosity and desire to get to know people is one of her unexpected super powers.

Hope and Regret

It doesn’t matter how old you are, tomorrow is a new day. You can always start being an entrepreneur now.

Edna was 48 when she started in passive income real estate investing and she didn’t intend on becoming a full time investor. She actually walked away from her mutual fund investment business because she felt that real estate was such a great option.

Where did the courage to make the leap come from?

Edna originally had a decent job and made a good amount of money but she was extremely bored. She wanted more and had to do correspondence courses because she didn’t have extra money for school. The common thread in Edna’s experience is constant education and always being willing to try new things plus the desire for more.

Edna always wanted to be financially free and being a financial advisor was the vehicle that initially got her there. Eventually she was down to working one day a week while doing passive income real estate investing part time

Edna has a history of taking a chance, but she believes the key is taking a chance on yourself. Don’t try to do everything yourself, the most successful people have coaches that help them work through challenges.

There is a four step process to success and the final step is teaching what you know to others.

What have you learned about mindset?

You are always beating yourself up for what you’re not, but literally everything in the world is learnable.

School is not as important as an education. We have a great schooling system, but we have a poor education system.

Edna always loved learning as long it was something she was interested in. A lot of people think education is limited to the traditional school, but there are a number of resources online you can access very easily.

You have to get to know yourself to understand what you will be good at. What did you do as a kid that you loved, and is there a way to turn that into a business?

Why bother coaching passive income real estate investing?

People were always asking Edna how she had been so successful in such a short period of time, and she realized that it’s all about the steps you take and the systems you set up. She started helping people achieve what she has and it’s one of the most fulfilling things she’s done.

Reference: Multiple Ways To Wealth: Creating Your Prosperous Lifestyle, Edna Keep

Edna’s Takeaway

Watch the Masterclass and take some action. Argue for your greatness, not your limitations. The voice in your head can stop you but you can change that voice. If Edna can do it, of course you can too!





Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

Investing In Crypto: Bitcoin, Ethereum, And More

Sep 6, 2018 38:57


David Moadel is a part of PortfolioWealthGlobal.com Special Opportunity Research Team. He has nailed a number of key topics in the precious metals, cryptocurrency and USD bear market arenas.

He now proudly serves as the Chief Analyst of the letter. He also has his own YT channel called, Looking at the Markets with David Moadel.

Regarding his background, David has a master's degree in education and has taught at the elementary, high school, and college levels. The foundation of his trading/investing knowledge came from his father, who is now 83 years of age and has lived through the best and worst economic times you can imagine. In terms of investing style, David likes to combine fundamental knowledge and technical/chart analysis. He uses indicators but doesn't rely on them, and prefers to use data/information rather than emotions when making financial decisions. David’s passion for teaching is just as strong as his passion for finance, and he has helped many people to grow their income and, more importantly, to protect the capital they already have. With PortfolioWealthGlobal.com and his YouTube channel as avenues to help others, David has the financial know-how and a passion for teaching that has boosted the bottom line of countless clients. Focusing on data rather than emotions, David is always on the lookout for new pathways to financial

freedom. Count on David for wealth-building strategies and resources for investors of all financial backgrounds.


Podcast Highlights

Who is David Moadel?

David is not a superhero but he does have a team of researchers to help him make his trading decisions. He’s been pursued by many different investors and newsletters but ultimately settled on PortfolioWealthGlobal.com because they align with David’s core values and his focus on cryptocurrency.

Cryptocurrency is derived from latin word “crypto” which means secret or hidden. Cryptocurrencies like Bitcoin and Ethereum are based on a grassroots level movement that is frustrated with central banks and rampant inflation.

Why Make Another Currency Like Bitcoin?

We you pay a portfolio manager to invest your money, they are probably just sticking your money into the stock market. We are currently experiencing the longest bull market in history, you should be diversifying your portfolio into assets that are not correlated to stocks and bonds. The zero interest policies are not going to last forever and the savers are the ones that are going to feel the burn.

Non-correlated assets go the opposite direction of the comparison. In the 2008 crash, real estate and stocks were correlated. It didn’t matter which one you owned, if one of them did badly, the other does too because they are correlated.

Meltdowns are global now, the whole ship goes down together. Non-correlated assets will move up while other assets go down. Currencies in general don’t move together when there is a meltdown.

Having all your assets in a single nation can be a bad idea, if one country melts down it will affect others. Hardly anyone expects a crash to happen but they will happen. Diversifying your investments with assets like Bitcoin are not the only way to protect yourself, finding other ways to produce income are important too.

Being Prepared

7 out 10 new businesses fail in the first five years, you need something unique to help you to compete against the major players. A side hustle is also very viable, keep the costs low, and stay lean. Writing an ebook is a decent option.

If you’re going into the market, find the undervalued assets that have been beaten up for no good reason.

A contrarian attitude is what will make you wealthy over time.

Doing The Research

Be your own researcher and do your own due diligence. The first step is to sift through the facts and the opinions. If something sounds like an opinion, it probably is. Watch for the infomercials and go for the articles that have been thoroughly researched.

Avoid money managers at the big bank, be your own advocate and do your own research, you will be better off in the long run.

David’s Takeaway

Sometimes the bad advice comes from people with good intentions. Ask yourself if they have access to best research and actually know what they are talking about. It’s your money, you have to protect it. Warren Buffet said the first rule of money is not doing something dumb to lose all your money. Other people are not going to protect your wealth the way you are. You can do better.







Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

Seven-Figure Decisions

Sep 3, 2018 56:18


Nick Vertucci is the founder and CEO of Nick Vertucci Companies, Inc. which aims to help people in real estate investment. He is also the bestselling author of the new book Seven Figure Decisions: Having the Balls to Succeed. 

Nick went from rags to riches, back to rags, and to riches once more. When his original tech business went under, he made a 180-degree turn. He achieved tremendous success by taking bold, calculated risks to reinvent himself after losing everything.

Podcast Highlights

Who is Nick Vertucci?

Nick wasn’t really a big fan of waking up early, attending classes, and getting high grades. He knew after finishing high school, education wasn’t the journey he’ll be taking for the next years of his life.

When he was 18, his father died and the rest of his family moved out. He was at a low point and knew that he needed his family close so he decided to buy a van and stay near them. To support himself, he worked for an appliance store as a delivery boy and luckily was able to move up to its sales department after some time.

In between those happenings, something ignited a fire inside him to finally jumpstart his journey to where he should be. He knew then that he wanted to create as early as possible something valuable for himself and worthy of his time.

As a result, at the early age of 22, he was able to start his own company. He built his career as a professional real estate investor and learnt more than a handful along the way.

Nick says he wouldn’t exchange any part if his life because he’s happy where he is right now – teaching people about real estate investment through Nick Vertucci Real Estate Academy (NVREA).

Take a calculated risk.

Some of us are inherently adamant to adjust and accept change. Nick says people are wired that way. Humans don’t like putting their safety and comfortability at risk. But, to be the best, we must become something different.

He started seeing everyone around him moving up and thought to himself: why waste all the hours and energy to a dull work if you could do something else more valuable and worthier?

Embrace change, instead of familiarity. To be able to move on the next step of your own career or business ladder, initiate the action. You and you alone should do it. You create opportunities and you open doors if you choose to take the wheel of your own journey. Don’t let anyone or anything decide for you.

Take the risk. Just know your resources. Surround yourself with like-minded people who’ll bring optimism and will push you forward.

Failure is the best education you’ll ever have.

Out of fear, we refuse to accept change for our personal transformation. Nick himself is not far from failures. He lost his company. He went bankrupt. He got cheated by his business partners. He got sued. You name it. But, in the end, he was able to make a company that has gone over seven figures and still stay impactful to other people.

If not for the hard turns that happened in Nick’s life, he wouldn’t be able to build his foundation and have the wisdom to grow his business. His past was ‘littered’ with failure. He advises that if you fall, then stand up, dust yourself off, then just keep going.

Don’t be afraid to make mistakes. Just push yourself forward to wherever you want to go. Acknowledge and accept that there will be ups and downs. Treat every unforeseen halt on the way as a lesson just like Nick did.

Pattern Interruption

Here’s an advice Nick got from his mentor who taught him real estate cash flow business: If there’s negative voices inside your head, block it out. Negative thoughts can be repatterned. Drown them with optimism and passion. Use it to convince yourself that you’re going to be the best in the business.

Of course, there are some aspects in our life that could not be easily removed. We’re talking about family and friends we surround ourselves with. There may be times that we don’t get the support we need from them so distance might be good sometimes.

Just remember: See it. Believe it. Map it. Execute it.

Nick’s Takeaway

Buy Nick’s book Seven Figure Decisions: Having the Balls to Succeed which is available in Kindle and paperback on Amazon. You can also visit nvrealestateacademy.com to stay connected with Nick. Nick wants to hear more from you! He’ll appreciate it if he knows that he has helped someone start on his journey and eventually succeed.







Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

Breakthrough With Personal Development

Aug 30, 2018 48:04


Brian Matsen is widely known and respected as a highly successful entrepreneur, sales trainer, investor, speaker and proven expert in personal development. His successful career has spanned over 20 years. He has worked for some of the largest financial institutions in the world including, 14 years as a Regional Vice President with ING and Voya Financial, a Fortune 500 company. He has received numerous national sales growth and achievement awards while amassing over one billion dollars in sales.


Podcast Highlights


Who is Brian Matsen?

Brian is just a normal guy. He grew up in Orange County, California, loved sports, like most kids and wasn’t in love with school, like most kids. For Brian, school was always a focus challenge. He felt that his future success as an adult would be reduced because he couldn’t succeed like everyone said he should in school.


Sports taught Brian to work hard and built his confidence. One of his most difficult experiences was when he volunteered in Puerto Rico without knowing a word of spanish. He was forced to confront his fear of speaking to people and grow as a result.


The first five years after college were a real struggle for Brian. After being let go from his fourth job in five years, Brian realized that if he kept doing the same thing, he was going to get the same results. This lead him to personal development and focusing on growing his own skill set.


Setting Big Goals

Brian had the golden handcuffs at the time but he realized that he had a lot of the answers that people are searching for that could help them take their career to the next level.

Fear is the number one cause of failure and it never goes away. If you’re going to expand as a person, you will always have to push through the terror barrier.

Getting real clear on exactly what you want is key to personal development. Most people never set their goals and have no idea what they really want. The type of goals you should be going after are the ones you really want to achieve but have no idea how to do it. Setting a truly ambitious goal can change your life and your business.

A C type goal is a tenfold increase, not an incremental gain. Paradigms dictate everything you do, if you don’t have the right mindset you are never going to achieve this kind of goal.

Paradigm Shifts

Paradigms are mental programs that have exclusive control over your habits. Paradigms come together to create a company culture.

You become programmed to earn a certain amount of money over time.

Your paradigm won’t change without a dramatic or tragic change in your life or constant spaced repetition.

Most people that come to Brian feel stuck, they are unhappy with what they are currently at and know that their results won’t change unless they do.

We inherit the habits of our ancestors, they are not easy to change but once you understand how to do it, you can make a quantum leap in your life. You need to rewire your subconscious mind because 95% of what you do is driven by your subconscious mind.

It’s not about what you know, it’s about what you do.

Brian’s Takeaway


The voice is a great example of your paradigm talking to you. Ignore that and listen to your intuition that says you can do it. When you make a committed decision, you will begin to change your life.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

Consulting With Success

Aug 27, 2018 41:16


Michael  Zipursky  is  an  author,  entrepreneur  and  CEO  of ConsultingSuccess.com.  He  has  consulted  for organizations  and  advised  leaders  throughout  North  America,  Europe,  Asia,  Africa,  Australia  and  the Middle  East  in  over  30  industries,  from  service  providers  to  billion  dollar  multinational  corporations including  Panasonic,  Dow  Jones,  Financial  Times,  Royal  Bank  and  many others. 

Michael  is  an  in-demand speaker  and  gives  keynotes  and  workshops  for  the  Certified  Management  Consultants  Association, Canadian  Internet  Marketing  Conference,  Chartered  Management  Institute  UK  and  others. Michael’s work  has  appeared  in  MarketingProfs,  Huffington  Post,  Financial  Times,  FOX  Business, Maclean's,  HR Executive,  Business  Edge,  Marketing  Magazine  and  in  several  other  media  and  publications.  He  is  the author  of  5  books  on  consulting  and  marketing  including  his  most recent  bestseller  The  Elite  Consulting Mind.  Michael  speaks  English  and  Japanese  and  loves  traveling  and  spending  time  with  his  family.


Podcast Highlights


Who is Michael Zipurskey?

Michael grew up feeling like an outsider. In his early years, his focus on sports combined with his perspective as an outsider gave him the foundation for his career later on. Michael has studied multiple languages and has lived in multiple countries.

Playing in sports gives you the fair advantage of practicing failure, a key skill for success in consulting and business.

Consulting Business

At the age of 16, Michael travelled with his cousin Sam to Vietnam to start a business together. They ended up starting a web design and consulting business which opened the door for new opportunities. The places you’ve been and the things that have influenced you when you were young shape who you become as an entrepreneur.

Michael dove right into consulting by applying what he learned and knew directly to the business world.

Michael is not a big fan of education in some ways. You can always go back to school, but school is no substitute for getting things done.

Clarity On Your Goals

Michael knew what he wanted and pursued it. If you know what you want, how committed are you to getting it? With the right mindset, you can achieve whatever you want.

Getting clear is the foundation to achieving growth in your business. People think that they need to add more in order to grow, but in Michael’s experience, the best way to grow is to subtract. Do less, not more. The most successful businesses have a very narrow and focused set of offerings.

What are you doing now that is having the greatest impact? Not all activities have the same value to your business.

What’s stopping us?

A lack of knowledge is not holding you back, it’s your mindset. If you have a goal and know what you need to do to get there, why are you not doing those things?

People have fears that hold them back, get out into the marketplace and refine your offering.

You have to work on the right activities for the stage of the business you are in. What do you feel will have the greatest impact in your business right now?

Reference: The Elite Consulting Mind, Michael Zipurskey

Michael’s Takeaway

Give some thought to your ideal client, who you think you can help the most and have had the greatest track record with. Look for a hungry market and start building a relationship right away with them wherever they are.




The Elite Consulting Mind

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Building A Real Estate Investing Portfolio With No Money

Aug 23, 2018 38:53


Author  of  the  book “Free  Houses”,  Austin  Miller  has  built  a  real  estate  portfolio  of  16  units  worth over  1.2  million  dollars  with  little  to  zero  of  his  own  money.  Over  the  course  of  acquiring  several properties,  he  is  fittingly  labeled  as  a  creative  financing  real  estate  investor.  Thinking  outside  the  box from  traditional  investing,  Austin  has  outlined  each  of  his  strategies  chapter  by chapter  in  his  book.

After  working  for  corporate  America  for  five  years,  he  was  able  to  quit  his  job  to  pursue  real  estate and  small  business  ownership  full  time.  Aside  from  real  estate,  Austin  enjoys  spending  time  with  his family  and  his  church  group.  His  other  passions  include  music  and  hunting.  He  also enjoys  talking about  real  estate  with  anyone  interested—veterans  and  rookies  alike.  He  is  active  in  his  local investors  club  and  serves  as  a  mentor  for  new  investors.


Podcast Highlights

Who is Austin Miller?

Austin wears a lot of hats but at the end of the day he’s someone who is willing to work really hard to achieve his goals. He has always been a collector and really liked acquiring capital and assets as part of his business.

Living in the midwest gives Austin a unique perspective from the cities on the coast, he knows that slow and steady strategy is the way to win the race.

Cards To Real Estate Investing

It takes the innocence of a child to point out the obvious. Seeing developers as a child put Austin on the path to real estate investing.

After getting a job with a commercial real estate builder in 2009, he observed the economy turning around and decided to pursue his dream of real estate investing. Austin needed to get some additional education in order to get started with real estate. Austin feels that he learned more in the six months after he graduated than during his whole time in school.

Free Houses

There is no secret in real estate, the education is out there if you look for it. Especially now with the number of podcasts available.Just being around people that want to do the same thing as you is very helpful.

There is no such thing as a free lunch, but as long as you are willing to exchange time and effort, you don’t need any money.

There are a lot of different ways to access cash to fund your deals and it’s normally the first hurdle people face. You have to start thinking in terms of possibilities instead of limitations.

You can Google private money and you can find a funding source. Your average bank wants 20%, but when you change the conversation beyond the usual perspective you can open a lot of opportunities.

Some people have a lot of drive, and some don’t. The world is made for disciplined men, if you get distracted you will never achieve your dreams. Most people will find excuses instead of doing the work.

Real estate investing is an evolving game. Single family homes is one of the most solid investments you can make but there are lots of other opportunities on the market.

Those who walk with the wise, become wise. If you want to learn, teach.

Reference: Free Houses, Austin Miller

Austin’s Takeaway

Remove the naysayers, internal and external. If you have a goal, remove the negativity because it will only slow you down.



Free Houses


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Digital Marketing Your Business

Aug 20, 2018 36:51


Greg Jameson is a Colorado Small Business of the Year and Inc 500 Award Winning Entrepreneur. As the president of WebStores, he is now focusing this expertise on CEO’s of both established and emerging businesses that need a profitable web store presence.   On this episode of the CashFlow Diary Podcast, Greg shares how you must jump in with both feet and actually do it. There are few things you can achieve in life on your own, you are going to need a few partners along the way. Align yourself with the very best people you can but don’t be afraid to give your dream a shot.  

Shortcut Your Startup

Aug 16, 2018 44:06


Courtney Reum is the co-founder of VEEV Spirits, which was the best-selling independent liquor brand in the U.S. before being acquired by Luxco. On this episode of the CashFlow Diary Podcast, he shares how you can never go wrong by moving forward and doing something. No one should be able to steal your confidence, love an idea, put something out there and see what happens.

Ending Small Business Failure With The SmallBizLady

Aug 13, 2018 39:29


Melinda  F.  Emerson,  SmallBizLady,  is  Americas  #1  Small  Business  Expert.  She  has been  a  thriving  entrepreneur  for  nearly  20  years  and  is  an  internationally  known  keynote speaker  and  expert  on  small  business  development  and  social  media  marketing.  She publishes  a  resource  blog www.succeedasyourownboss.com


Her  small  business advice  is  widely  read  reaching  more  than  3  million  entrepreneurs  each  week  online.  A pioneer  in  social  media  marketing,  she  is  the  creator  and  host  of  #Smallbizchat,  the longest  running  live  chat  on  Twitter  for  small  business  owners.  Forbes  magazine  named her  the  #1  woman  for  entrepreneurs  to  follow  on  Twitter.


Podcast Highlights


Who is Melinda Emerson?

Melinda is a dedicated single mom, dragonslayer, and entrepreneur. Early on Melinda looked around and saw there wasn’t a lot resources available for small business owners so she decided to take charge of the situation. After creating one of the fastest growing small businesses in America, Melinda realized she had made a mistake and built a business that couldn’t run without her. After being put on bed rest for six months when she became pregnant, Melinda had to make some drastic changes to her business and she learned a lot of lessons along the way.


Starting A Small Business

You have to plan for success, success will not just happen to you. Melinda has a six step system for planning your small business and the first step is figuring out what you really want. Not liking your current job is not enough, you need to have a plan or you may just destroy your entire life.

You have to think about the money component, most businesses don’t make a profit until 18 to 24 months in. Things come up and you need money to take care of them. You need to understand how much the business is going to cost and where the money is going to come from.

The great thing about being in America is you can reinvent yourself. If you want to start a business, work part time in the industry you want to start a business in and get some experience first.

Personal Growth

You have to grow yourself to grow your small business. You have to learn the skills necessary to create a successful business. Just because you are entrepreneur, that doesn’t mean you are a good manager.

You have to figure out what is your most high value business activity. You should not be spending your time doing $15 and $20 per hour work.

As an entrepreneur, you need to figure out what you don’t know and go fill the gaps in your knowledge.

People know what is wrong with their businesses, they just aren’t willing to confront and deal with the problems. If you’re having trouble with people, try looking at yourself first.

Take one day a week to work on what you want your business to be.


If you want a real business, you need to hire people and have some help.

In the beginning you have to hire the people you know, but you need to create a process to hire the right people and also be willing to fire someone.

Reference: Fix Your Business, Melinda Emerson

Melinda’s Takeaway


Buy Become Your Own Boss In 12 Months, then find an existing entrepreneur and go have lunch with them, then ask what the three biggest mistakes they made in their business are.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

Cost Recovery Secrets

Aug 9, 2018 55:00


Neil  Evans  has  the  unique  profession  of  Cost  Recovery Consultant,  finding  hidden  money  for  U.S.  Businesses  in  the  form of  specialized  tax  incentives  and  cost-recovery  programs.  He  and his  company  work  on  a  contingency  basis, meaning  that  if his  firm does  not  uncover  financial  benefit,  the  client  owes  them nothing. He  is  passionate  about  helping  businesses  survive  and  grow. To date, his  company  has  found  more  than  half  a  billion dollars  for  its clients.


Podcast Highlights


Who is Neil Evans?

Neil’s dad was an entrepreneur who owned a restaurant during Neil’s childhood. Watching his father work and helped him understand the fundamentals of business and stoke his creativity. Neil later on went to work at BeachBody and fell into the role of optimizing the money that was spent in the company.


After leaving the corporate world in 2010, Neil got into the Cost Recovery space because he found he really enjoyed helping businesses save money.


Good, Fast, and Cheap

You have to set boundaries in your minimum level of quality. Most businesses have so much waste in their processes that there is a huge opportunity for saving money.

Cost Recovery And Optimizing Your Expenses

Money always represents time, saving money means unlocking someone’s time.

Waste is an expensive proposition, most businesses don’t have the wherewithal to know if their vendor is treating them fairly. This is one of the areas that Neil’s team has an expertise in.

You can’t be an expert in everything there is to know in the world, and you shouldn’t try. It makes more sense to work with someone who specializes in the areas that you don’t, like cost recovery. There a number of areas in a business that can be optimized by someone with the proper expertise. The day to day operational expenses are prime areas to optimize.

Building owners need to take advantage of cost segregation studies. It allows building owners to realize the appreciation of their property earlier on in the life of the building and can open up a number of opportunities. When you first purchase the building is when you should start the study.

There are a number of different tax credits that businesses can take advantage of but they really require a specialist to help them navigate the red tape involved. In a lot of ways businesses are leaving free money on the table but not applying for these credits.

If you are in business, there is an opportunity for you to optimize cash flow and cost recovery. Neil refers to class action lawsuits as Vegas money, you never know when the money is going to come but they can be extremely lucrative to look into.

Neil’s Takeaway


Rumination is your ruination. You never really get to find yourself unless you get out there and see what you’ve got personally. You don’t know what you’re capable of unless you try, don’t miss an opportunity like this.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

How To Wholesale Real Estate For Fun And Profit

Aug 6, 2018 38:49


Brad  Chandler  has  successfully  flipped  over 2,100  houses  since  2003.  He  is currently  the  CEO of  Express  Homebuyers  –  a  real  estate  investing empire  that  does  more  than  200  deals  per  year without  his  assistance.  Brad  wrote How  to  Wholesale Real  Estate  for  Profits  Without  Bank  Loans to  help others  achieve  their  real  estate  investing  dreams.


Podcast Highlights

Who is Brad Chandler?

When Brad was ten years old, he parents divorced and his family was facing down going into public housing. His experience lead him to reading How to Buy Real Estate With No Money down and it inspired him to make real estate the foundation of his education. After living paycheck to paycheck for a few years, he met an investor that purchased his neighbour’s house and he opened Brad’s eyes to the world of flipping houses. Eight months later he managed to find his first deal.

Wholesale Real Estate Myths

When people think of real estate, they think of banks and capital heavy investment. They don’t realize there is another way to do it.

Most people who dabble in real estate give up too easily. You have to develop patience in the face of desire, the mindset is key. Mindset is the difference between people who achieve the success they want and those who give up. Luckily you don’t need an expensive degree to change your mindset.

Not knowing what you are doing shouldn’t stop you, a growth mindset allows you to figure it out as you go along. You may not know the answer today but you will find it if you look for it. It comes down to what you want in your life.

Walking Away

Brad always wanted his business to work for him instead of him working for his business. The secret is simple, people and systems. If you build the people, the people will build the business.

The easiest part of the wholesale real estate business is selling a deal. If you have a true deal, you will always find a buyer.

Everyone’s problem in the wholesale real estate space is finding the right people. Brad takes his time to hire and fires quickly. If you feel the need to hire someone, it’s already too late and you should have hired them long ago.

A poor hiring decision will cost you ten times the person’s salary. Take your time to find the person who is the right fit.

Brad’s passion is marketing and by bringing in the right people, he has been able to focus on marketing his business and it’s now one of the most highly trafficked websites in the investing space.

You must have a website in this day and age. SEO and pay per click advertising are the two main strategies that Brad has used to crush it online.

Brad has always had a passion for teaching and seeing the low quality in the real estate investing space lead him to create his own coaching business to help people start and scale real estate business.

Reference: How  to  Wholesale Real  Estate  for  Profits  Without  Bank  Loans, Brad Chandler

Brad’s Takeaway

Download your free report from the link below. If someone is doubting your path, make them sit down and watch the video. There are only a few different areas that you need to understand in order to succeed in real estate and the rest is just busting your butt and making it happen.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

Andrew Yang on Creating More Entrepreneurs

Aug 2, 2018 40:10


Andrew Yang is the founder of Venture for America and former CEO of Manhattan Prep. He previously served as Presidential Ambassador for Global Entrepreneurship under President Barack Obama's Administration. He is the author of the bestselling book Smart People Should Build Things: How to Restore Our Culture of Achievement, Build a Path for Entrepreneurs, and Create New Jobs in America.


Building a Lifestyle Business

Jul 30, 2018 41:28


Aaron  Muller  is  the  founder  of  Lifestyle  Business  Owner  Academy  and  a  serial  entrepreneur  who currently  owns  eight  multi-million  dollar  companies  that  run  without  him,  including  an  eco-friendly truck  washing  company,  a  search  engine  optimization  company,  three  auto  repair  shops, an  auto glass  franchise,  a  green  pressure  washing  company,  a  matchmaking  service,  and  an  online  business selling  eco-friendly  pet  hair  removers. 

He  is  the  bestselling  author  of  The  Lifestyle  Business  Owner: How  to  Buy  a  Business,  Grow  Your  Profits,  and  Make  It  Run  Without  You.  Aaron  spends  his  time helping  entrepreneurs  succeed  because  it  is  what  he  enjoys  doing.  Over  the  last  15  years,  Aaron  has mentored  thousands  of  small  business  owners  as  a  business  broker,  consultant,  and  coach.  His specialty?  How  to  make  a  business  run  without  you.  


Podcast Highlights

Who is Aaron Muller?

Aaron’s story starts in the fifth grade where he started up a little shrimp business. He sold shrimp to tourists and saved every penny he had. He didn’t come from a wealthy family and got his first job cleaning trucks at the age of 15, that’s where he learned to become so valuable at his job that he created his own opportunities. Aaron became an owner of that cleaning company and grew the business right out of highschool. Aaron went on to buy an auto mechanic business and has been an absentee owner ever since.

Making Mistakes

When getting his first SBA loan, Aaron was told that he was going to fail and the only reason they were giving him the money was because he had a business that could guarantee the repayment.

You don’t need to invent original things to make money. Entrepreneurs are great at taking what other people are doing and improving and implementing.

How does someone buy a new lifestyle business and not get trapped?

A business broker is essential to the process. People buy a lifestyle business because they want to be an absentee owner.

Aaron doesn’t recommend buying a franchise, the fees and rules involved make it more difficult and your money and effort can be better spent elsewhere.

Look at the financials of the lifestyle business and make sure it is feasible to hire a manager to take care of the day to day activities of running the business. Contact a broker and if the financial info doesn’t make sense, walk away from the deal. Your broker should be able to make it very easy to understand the financial picture.

There is no exact science to business valuation, it’s going to be selling for between 2 and 5 times the owner’s discretionary income.

Keeping the owner on board after buying their business can create some conflict when you start changing things. It may be better to just hire a manager or promote one of the team members to a management position. You don’t need a special ability to hire the right people, you just have to keep at it.

Why did you feel the need to write the Lifestyle Business book?

Aaron had been buying and selling businesses for 17 years and saw many entrepreneurs essentially buying themselves a job. He wants to empower small businesses to be better and compete with the big box stores.

What are the barriers to entry?

Even if you don’t have the 10% to put down against a new business, you can still put in time becoming so valuable to the business as an alternative way in. There is always a way to structure a deal.

Reference: The  Lifestyle  Business  Owner: How  to  Buy  a  Business,  Grow  Your  Profits,  and  Make  It  Run  Without  You, Aaron Muller

Aaron’s Takeaway


Go to businessbroker.net and start looking at businesses. Figure out what you have to make to survive and that’s where you start narrowing down the search. Consider what kind of background you have and try to fit the business to your personality.





The  Lifestyle  Business  Owner: How  to  Buy  a  Business,  Grow  Your  Profits,  and  Make  It  Run  Without  You, Aaron Muller

Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

Creating The Ultimate Customer Experience

Jul 26, 2018 45:19


Jeanne  Bliss is  Founder  and  President  of  Customer Bliss  and  Co-Founder  of  The  Customer  Experience Professionals  Association.  She  is  the  bestselling  author  of  Chief  Customer  Officer  2.0:  How  to  Build Your  Customer-Driven  Growth  Engine  and  the  new  book  WOULD  YOU  DO  THAT  TO  YOUR  MOTHER? The  "Make  Mom  Proud"  Standard  for  How  to  Treat  Your  Customers. 


Podcast Highlights

Who is Jeanne Bliss?

Jeanne is the daughter of a man who owned a Buster Brown shoe store. In the course of selling shoes, Jeanne’s father became a part of his customer’s lives and people stood in a line two blocks long to say goodbye when he closed the store. He instilled the spirit of entrepreneurship in his children on the way.

Even when Jeanne was working in the corporate world, she was very entrepreneurial and her focus on the experience of the customer and the employees lead her to become the conscience of the company she worked for. She went on to work for Mazda, Coldwell Banker, AllState Corporation, and finally at Microsoft, all in roles with a similar focus on customer experience.

How does an entrepreneur deliver a great customer experience?

There are 32 practices that define our experiences as consumers. The new book divides these into four main categories and gives you the toolkits you can use to build a customer experience focused business. By bonding your employees to your business you reduce your labor costs.

You have to establish expectations before you begin. There needs to be an explicit understanding of the two way trust involved in the customer experience. The disconnect occurs when the customer doesn’t understand the process because there is usually a gap between what customers expect and what they actually get.

Be deliberate with what you want people to feel and think about the experience you want to deliver. Start with the life experience instead of chasing the score. Memory creation is the currency of your brand.

How are you measuring customer love? Track and measure how many customers are coming back and those who are never returning.

You need to earn the right to grow.

Do you hire and develop people who you trust to create memories or do you hire people who only execute processes?

When customers come at you, it’s because they feel like they have been disrespected or unappreciated.

Reference: Chief Customer Officer 2.0: How to Build Your Customer-Driven Growth Engine, Jeanne Bliss

Jeanne’s Takeaway

Go on Amazon and buy the book, connect with Jeanne on LinkedIn, read the book and if there are ten people who are interested, Jeanne will do a book huddle. Pick one thing to work on, not ten things to work on. If you try to do more than one thing at a time it will implode.







Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

From Employee To Real Estate Investing

Jul 20, 2018 42:53


Tom Cafarella always dreamed of following in his grandfather’s footsteps (a very successful landlord) and become a successful real estate mogul. Instead, he followed everyone’s advice and took on a traditional 9-to-5 job as an accountant. The problem: his heart was in real estate investing. It didn’t take long to get fired from his job due to his daydreaming about his passion.

On this episode of the CashFlow Diary Podcast, Tom shares that if he were to go back and do it all over again he would find a coach that is successful in whatever field he was looking into and align himself with them. The hardest part of going out on your own is the trial and error process, if you can shorten that time you will make money a lot faster and ramp your business up a lot quicker. By having some you can work with that’s a little bit ahead of you, you can limit your downside.

Generating Wheelbarrow Profits with Multifamily Investing

Jul 13, 2018 41:48


Agricultural Investing with Harvest Returns

Jul 6, 2018 44:16


If you want to diversify your portfolio, listen to this episode with Chris Rawley and Austin Maness. Emerging markets don’t have the same opportunities that traditional farmers have and that’s the sector Chris and Austin are trying to serve. Agriculture is changing and what is being provided to the world is evolving, which is part of the reason Chris and Austin believe it’s a good investment opportunity. Start doing your research if your dream is to start your own agricultural operation, traditional or non-traditional, and give Chris and Austin a call when you are ready to make it a reality.

Value Investing and Opportunity Mindset

Jun 29, 2018 50:37


Lior has been nicknamed “Globeionaire” by millionaire entrepreneurs, investors, and businessmen who have seen him in action. He has a global approach to life and business, and that’s where the name originates from. Over the past 16 years, Lior has built, run, and managed various exciting ventures across 2 continents.

With Wealth Research Group, Lior provides a glimpse into his inner thoughts and work processes, so loyal members get to grow and expand their financial expertise along with him. His drive to consistently outperform the markets with an elevated degree of safety on one end and his commitment to seek out and find the most explosive “under the radar” opportunities on the other end will be clear to you with every word you read.

Lior’s essential goal is to help you become wealthier by arming you with advanced strategies and a rich plethora of tools. Lior’s background is the ultimate blend of dividend and value investing, specialized high-yield companies for retirement, and the inner circle of venture capital, where his rolodex and contacts will become your unfair advantage and secret gateway to opportunities. Readers and members can anticipate Lior’s meticulous and unceasing pursuit of in-depth knowledge and ambition of living a wealthier, more balanced life, inspiring you to act and pursue your financial goals.


Podcast Highlights

Who is Lior Gantz?

Lior started out by playing basketball and learning the art of a team sport. Being a playmaker for the team allowed him to understand how to make other people better at what they do. This is where Lior developed the idea that not all people are built alike and you can’t expect the same things from different people and he became extremely self reliant.

He was unique amongst his friends in that he learned early on that you need to save money and not spend everything and that you need to deploy capital in order to make money.

For most people, investing should be secondary and not primary in their pursuit of creating a good life. An entrepreneurial focus is required first before value investing really begins to pay off.

Instead of trying to put people where Lior needed them, he learned that he needed to find the right people initially and focus on that.

People like to make things harder for themselves than they need to, in business you should go where the competition is minimal and the barrier to entry is low. Branding is the number one thing that people need to do in life.

Building Your Capital and Value Investing

The first thing that people needs is a start over fund. Set aside enough money to cover your expenses for a year. Keep it at your residence in case you have an emergency. You need to figure out your lifestyle burn rate is, what your skill is and what you can do to create value.

In order to save, you will need to shut out a number of distractions. 95% of people are three paychecks away from being broke. In order to build wealth, you will need to make sacrifices and maintain discipline. Value investing takes time.

If you service less people and specialize in a specific niche, you will make more money. Building a massive business is a massive undertaking and isn’t right for everyone. When you shut out distractions, you can become smarter in a narrow body of knowledge that the vast majority of people in only 6 to 12 months.

The quickest way to the good life is ignoring your inner voice that says it’s going to take a long time, find somebody nearby that you want to work with and figure out how to add value to what they are doing. Do what you can to connect with that person and learn from them.

It all comes down to being indispensable.

How do we find areas of low competition?

If there is an area where nobody wants to do anything, that is an area of opportunity in general. Consider the case of Ethereum. At $12 a coin, nobody knew what is was but when it went to a $1000 a coin, it was no longer a good opportunity.

Aim for professions that are not official professions where you can create your own title. There is much less competition and more opportunities to provide truly unique value. It’s also possible to be entrepreneurial within existing organizations and discover opportunities within your own industry.

Lior’s Takeaway

Do a self assessment, not everyone is equipped to start a business. Understand where your strengths are and utilize them within an existing organization if it makes sense for you. Discover the areas of your life where there less friction. Do not try to put in the effort to strengthen your weaknesses. Strengthen your existing strengths, that is where the money is. Once you find your strength, confidence comes along with that.


Be motivated, not inspired.



The Intelligent Investor

The Most Important Thing: Uncommon Sense for The Thoughtful Investor


Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

Team Building With Counter Mentor Leadership

Jun 21, 2018 41:09


Kelly Riggs is an author, speaker and business performance coach for executives and companies throughout the U.S. and Canada. Kelly is a former sales executive and two-time national Salesperson of the Year with well over two decades of executive management and training experience.

His new bestselling book, Counter Mentor Leadership: How to Unlock the Potential of the 4-Generation Workplace, offers practical, actionable advice that improves workplace culture and enables organizations to bridge the generational divide.


Podcast Highlights


Who is Kelly Riggs?

Kelly started off going to school for engineering but quickly realized that wasn’t the path for him. He found himself in a sales position where he didn’t know enough about it to be scared. He approached his work from a blank slate, ready to jump in and learn and found he was willing to outwork nearly anyone.


You can do lot with people that have passion and perseverance and Kelly certainly qualifies.


Team Building with the Right People

People learn in different ways but the important part is that they don’t stop learning in order to stay current and stay on top. Asking your perspective hires what the last five books they read was and what they learned from them is a good way to find the right kinds of people.

Just because you start a book, doesn’t mean you have to finish it. Give a book three chapters, if it doesn’t grab you, skim the table of contents to make sure nothing jumps out at you and if you don’t see anything, move on.

How did you go from sales to Bizlockerroom?

Our approach to team building typically involves looking at our top sales people to promote into leadership but that rarely makes sense. Just because you can sell, that does not mean you can teach or lead a team. Kelly had to commit to learning everything he could in order to be a successful manager.

Leadership requires a coaching and teaching mindset. If you can’t grow people, how can you grow your organization? If not you, you can always bring someone onto the leadership team to fill that role but you can’t leave it empty.

When do you need to start coaching?

Most startups are a team of one with some assistants. Even with a small team, you need to be able to engage them. At a certain point, you will have to hire someone for a leadership role because leadership and team building are critical. Without a leader, the owner becomes the bottleneck for the business.

How to you get good at hiring?

As business owners, one of the most important tasks is to hire and train people. There are systems for hiring that work that you have to commit to learning if you don’t want to figure it out the hard way.

Leadership is not generational, it’s relational.

The Millennials

The Millennials are not necessarily to blame, you can’t forget who raised them. Failure is a great teacher and builder of character and many Millennials haven’t had the same experiences other generations have had.

You need to understand their perspectives and leverage what they do and how they work. You should adapt your principles to new definitions of success and work.

The workplace has changed dramatically in the last 15 years. If you hold the rope to tightly, you prospective leaders will get discouraged. Too tightly, and they won’t be able to lead. The Counter Mentor system is a team building system you can use that allows people to fail small and continue to learn.

Reference: Counter Mentor Leadership: How to Unlock the Potential of the 4-Generation Workplace

Kelly’s Takeaway


Find an accountability partner that will hold you to your chosen path. It’s too easy to encounter difficulty and give up. There is no sales manager quite as good as a motivated spouse! You do better, more effective work when you are accountable to someone else who pays attention and cares about your success.






Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

AHP: Debts, Chaos, and Cashflow

Apr 12, 2018 42:20


Jorge P. Newbery is on a mission to help Americans crushed by unaffordable debts. He is Founder and Chairman of American Homeowner Preservation LLC and AHP Servicing LLC. AHP crowdfunds the purchase of non-performing mortgages from banks at big discounts, then shares the discounts with struggling homeowners. AHP Servicing LLC will bring social responsibility and a willingness to do the right thing to an industry often devoid of caring, compassion and basic human decency.

On this episode of the CashFlow Diary Podcast, Jorge explains that the most important thing is to take that first step. Then the second step, then the third step. List the steps and take the first one. Don’t look all the way to the finish line, work on getting through the first mile. Break it down into achievable bites that get you closer to your goal.

Thomas Smith: From Football To Real Estate

Apr 9, 2018 54:05


NFL athletes are notorious for being ill-prepared for life outside of football. It is not uncommon for former players to fall into financial distress or bankruptcy soon after their athletic career ends. Sports Illustrated reported that 78% of NFL players are broke within three years of retirement, not the case for Thomas Smith. His preparations for a post-football career began before his time in the NFL.

On this episode of the CashFlow Diary podcast, Thomas encourages us not to pay attention to the outside voices, just listen to the inner voice. But you have to understand why your inner voice may be telling you something negative and be willing to make a leap of faith. Once you take action, don’t worry about the how of getting things done, just put together a plan and start doing. The how will come to you as you move through life. The passion, will, and determination to succeed will make it happen. Don’t quit and keep going.

Developing the Ultimate Entrepreneurial Skill

Apr 5, 2018 41:46


Joe Yazbeck is the Founder and President of Prestige Leadership Advisors whose mission is to facilitate leaders in becoming dynamic powerful communicators so they can significantly influence the world around them. Joe has worked with heads of state to leaders of major corporations as well as high-ranking military officers, political candidates to best-selling authors.

Long Distance Real Estate Investing

Apr 2, 2018 47:32


David Greene is a real estate investor/agent, author, entrepreneur, and police officer in the San Francisco Bay area of California. David’s goal is to achieve total financial independence through real estate, and help others to do the same. When David is not out hunting for bad guys, he hunts for deals and loves talking real estate. This episode is all about the world of long-distance real estate investing.

Joel Solomon on the Clean Money Revolution

Mar 29, 2018 45:01


Joel Solomon is Co-Founder and Chair of Renewal Funds, Canada's largest mission venture capital firm at $98m, investing in Organics and EnviroTech in Canada and the USA. With Founder/Funder Carol Newell, he spent 14 years implementing a "whole portfolio to mission" strategy as leader of her activist Family Office.

On this episode of CashFlow Diary Podcast, Joel shares how you need to find the mentors, voices, and the influences that you believe will help you think through the kinds of questions you are going through. Entrepreneurship is almost like a religion in many areas of the world, the number of resources available is immense.

CFD 448 - Common Sense Business Growth

Feb 23, 2018 38:12


Kevin Van Eekeran started his career as a logistic officer for a SWAT team, which gave him insight into the criminal justice world, and he soon found that through training SWAT teams better he could reduce the use of force while bettering the national security of our country. Fulcrum Tactical was born out of that idea, and within 18 months he expanded it from a charity to a for-profit company.

On this episode of the CashFlow Diary Podcast, Kevin shares how the first thing you should do is to get outside opinions. Once you get some positive feedback, take the amount of money you think it will take to get started and double it. It will probably still be too small of an estimate.

CFD 447 - Designing Your Life Around What You Love

Feb 20, 2018 35:24


Back in 2008, Kean Graham was working as a digital marketing manager, but lost my his job during the global financial crisis. With his career on hold, he decided to do the one thing he loved: travel. Standing on a mountain overlooking Machu Picchu, Kean realized he never wanted to stop. From that day forward he’s been combining my passion for entrepreneurship with his love of travel.

Kean shares on this episode of the CashFlow Diary podcast that even if you don’t have an idea yet, write down every idea you’ve had and do the research. Just enough to narrow it down to one or two then reach out to potential clients and assess the opportunity within. Once you find the one that feels right, dig in and commit. Learn how to bring your client’s value and keep working at it. Get started and stay started.

CFD 446 - David Pogue and Mastering Money

Feb 16, 2018 54:28


David Pogue is the tech critic for Yahoo Finance, having been groomed for the position by 13 years as the personal-technology columnist for the New York Times. He’s also a monthly columnist for Scientific American and host of science shows on PBS’s "NOVA." He’s been a correspondent for "CBS Sunday Morning" since 2002. With over 3 million books in print, David is one of the world’s bestselling how-to authors. He wrote or co-wrote seven books in the "for Dummies" series (including Macs, Magic, Opera, and Classical Casino Music); in 1999, he launched his own series of complete, funny computer books called the Missing Manual series, which now includes 120 titles.

On this episode of the CashFlow Diary Podcast, David shares the only way you can break out of the dollars for time paradigm is if you create something of value. Create a company, write a book, compose a song, do something that you can be paid for way out of proportion for your time and starting generating geometric income.

CFD 445 - Dealing With Rejection To Achieve Your Mission In Life

Feb 13, 2018 44:00


Neale Godfrey is the CEO and President of Green$treet Commons and Chairman of The Children's Financial Network. She is also the #1 New York Times bestselling author of nearly 30 books empowering children and their families to take charge of their financial lives.

In this episode of the CashFlow Diary Podcast, Neale shares how to lower the noise of the people surrounding you who are saying you can’t do it. If it’s you, stop saying that. You need to have the goal and the vision and the tactics to get there.

CFD 444 - Bluefish and Getting Things Done

Feb 9, 2018 45:20


Steve Sims’s day job is to make the impossible possible. With his help and expertise, his clients’ fantasies and wildest dreams come true. Getting married by the Pope in the Vatican, being serenaded by Elton John, and connecting with powerful business moguls like Elon Musk are just a few of the many projects he has worked on. He rarely reveals how he accomplishes the feats that make his clients so happy. But now for the first time, Steve shares his practical tips, techniques, and strategies to help readers break down any obstacle and turn their dreams into reality.

CFD 443 - Getting Started and Staying Started in Real Estate Investing

Jan 26, 2018 44:01


Whitney Nicely went from no investments (or strategies) to 19 houses, 19 apartment units and 7 chunks of land in less than three years all bringing monthly money to her bank account on autopilot. She has traveled the United States speaking on stages, teaching her simple strategies, and meeting with other successful real estate investors- and still buying houses the way she teaches others. On this episode, she shares how starting something like real estate can seem scary from the outset. When you focus on your seller and buyers, that takes the pressure off you. Your goal in this life should be to help as many people as you can, keep your efforts small, personal, and smooth.

CFD 442 - Ego Free Business

Jan 23, 2018 49:08


Shayne Hughes is the President and Culture Change Partner at Learning as Leadership. Shayne is also the bestselling author of the new book, "Ego Free Leadership: Ending the Unconscious Habits that Hijack Your Business." In this episode, he shares how your ego will tell you a story that keeps you in your comfort zone. It is constantly making trade-offs that are aiming to protect yourself from something you are afraid of. Even people who tend to get a lot done, do so within their comfort zone. They aren’t doing anyone any favors by playing small.

CFD 441 - How to Build an Empire

Jan 19, 2018 37:35


Sean Dowdell is the Founder of Club Tattoo and author of, "Tattooed Millionaire: Building the Club Tattoo Empire" With the help of his wife/partner; Thora and partner (Chester Bennington), they created one of the most successful tattoo and piercing brands in the world and became multi-millionaires that give back to their communities and help other young entrepreneurs.    

CFD 440 - Robert Dickie On Living Your True Genius

Jan 16, 2018 46:38


Robert Dickie III is the President of Crown Financial Ministries and has served as a decorated Air Force Officer, the CEO of an international company, and as the leader of several non-profits. He is the bestselling author of THE LEAP: Launching Your Full-Time Career in Our Part-Time Economy and the new book LOVE YOUR WORK: 4 Practical Ways You Can Pivot to Your Best Career.

On this episode, he shares how the toughest critic to fight is the voice inside of us. It’s key to realize that our fears almost never come to pass, and our gut reactions are usually wrong. Check your thoughts, there is positive right around the corner and you just have to take the first step.

CFD 439 - The Truth About Money

Jan 12, 2018 48:46


Ric Edelman, Founder & Executive Chairman of Edelman Financial Services, has been ranked the #1 Independent Financial Advisor in the nation by Barron’s three times.1 His commitment to teaching consumers about personal finance has established him as a popular and trusted financial professional in the country. A #1 New York Times bestselling author, Edelman’s eight books have collectively sold more than one million copies and have been translated into several languages.

CFD 438 - Buying a Business By Thinking Like An Investor

Jan 9, 2018 35:24


Moran is an investor, and the founder of ABD Assets he’s looking to buy and invest in good businesses and people. He’s now on his path to own more businesses than Richard Branson. 

In this episode, you will learn the following about Moran: 

Why and how you became an investor?  What are your thoughts about starting a startup vs buying an existing business?  Walk us through the process of buying a business what are the steps - Where you find them, what is your criteria, how do you finance them, who is running the business for you? How did you learn about this world and how others can learn?

CFD 437 - Breaking Through The Barriers That Are Holding You Back

Jan 5, 2018 42:35


Mitch Russo’s experience dates back to 1978 when he started working as an Electrical Engineer at Digital Equipment Corp in Maynard, MA. He migrated to application engineering for Mostek (a semiconductor company) and then to selling chips to large and small companies alike. 

Podcast Highlights:

Who is Mitch Russo? What are the top 3 basic things that entrepreneurs skip? How should someone become an expert? Do you find more fulfillment helping others or in building something new? What are some of the most powerful strategies have you learned by doing your podcast? What are the top things that prevent entrepreneurs from breaking through?

CFD 436 - How The Best Keep Getting Better: Unlock Your Potential

Jan 2, 2018 42:40


Mark Sanborn is the president of Sanborn & Associates, Inc., an idea lab for leadership development and turning ordinary into extraordinary. He is also the New York Times bestselling author of, "The Fred Factor: How passion in your work and life can turn the ordinary into the extraordinary," "Fred 2.0: New Ideas on How to Keep Delivering Extraordinary Results," and, "You Don't Need a Title to Be a Leader: How Anyone, Anywhere, Can Make a Positive Difference."

Mark’s spider bite moment came after he delivered a terrible public speech at the tender age of 10. He made the decision afterwards to learn everything he could in the realm of public speaking instead of giving up and considering it a weakness.

The better you communicate, the more effective you will be as an entrepreneur and a leader. Influence is always born from communication.

CFD 435 - Making Games For Fun And Profit

Dec 29, 2017 44:22


Michael Mindes is the Founder and CEO of Tasty Minstrel Games (TMG) which is a multiple award-winning publisher of hobby board games. In this capacity, he grew TMG from a side business into a company approaching $2,000,000 in annual revenues, a team of 10 people, and all without any outside investment.

As of October 17th, 2016 - TMG has receiving $2,546,682 in funds from Backers on Kickstarter from 26 individual hobby board gaming projects.  


Podcast Highlights

Who is Michael Mindes?

Michael started off when he was four years old playing games like Candy Land and trying to figure out ways to make the game better. He graduated to chess as he got older and later on to Magic: the Gathering. In the early 2000’s, Michael discovered German style board games like Settlers of Catan. Essentially, Michael has been immersed in the world of games for the last three decades.

What made you decide that making games could be a business?

Michael originally decided to become a financial advisor after becoming a father instead of going into the games industry. The depressing nature of the financial industry eventually got to him, and his wife encouraged Michael to pursue his dream of making games of his own.

Michael began by identifying the things that he had to give up before starting his own business. He knew he couldn’t sacrifice time with his family or work, and so he had to tailor his life to make it work.

We are currently in an environment where the cost of business is extremely low. In order to be successful, you have to compete with people who are willing to work crazy number of hours. If you don’t have that passion, you will probably not be as successful as you hope.

How do you feel about the thought process of getting started?

If you can’t get over the six month speed month and it’s not really going anywhere, you may not be in the right space or you just may not be good enough. If you want to be in a specific industry, start in a place where you can work closely with someone who has done what you want to learn. Especially if you are young.

Don’t expect success overnight.

How does an entrepreneur deal with obstacles like upfront costs?

A lot of the obstacles that are out there as a way to make it okay that you are not putting forth the effort.

The technology to get people’s attention is essentially free. You can’t sell something until you have someone to sell it to. Getting eyes on what you are doing is how you learn if you are moving in the right direction.

How did crowdfunding come into your business?

Michael’s first watershed moment was when he was first starting out. He posted a picture of a pile of board games that he wanted to give away, and then asked people to sign up to his email list in order to sign up. He had 700 people sign up in 2 days.

Michael’s first kickstarter was the second. He was terrified of the implications of the kickstarter failing but it ended up succeeding and validating his ideas.

What was the growing process like?

Michael describes his business’s maturing process as moving a mountain. To move a mountain, you pick up one piece at a time and keep going.

What does the game making process look like?

TMG treats board games the same way that Simon and Schuster treats books. They take ideas that designers submit, separate the ones they think have potential and work together to develop them. From there it’s about coordinating with retailers, manufacturers, and shippers to figure out a solution that’s profitable for everyone involved.

The turnaround time for a project can be anywhere from two months to six months, and sometimes longer.

Michael’s Takeaway

You need to embrace the fact that the voice is coming from a place of love and then go out and do the thing you are thinking of anyway. Start by building an audience and figure out if it’s something you actually want to do. Don’t risk your ability to live the life you want.




Martian Dice

Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

CFD 434 - The Art Of Connection

Dec 26, 2017 44:26


Michael J. Gelb is the founder and president of The High Performance Learning Center, a firm specializing in consulting and training for organizations interested in developing more innovative cultures. He is also the #1 New York Times bestselling author of, "How to Think Like Leonardo da Vinci: Seven Steps to Genius Every Day." 

Gelb is the world’s leading authority on the application of genius thinking to personal and organizational development. He is a pioneer in the fields of creative thinking, accelerated learning, and innovative leadership.

Gelb leads seminars for organizations such as DuPont, Genentech, Merck, Microsoft, Nike, Raytheon and YPO. He brings more than 35 years of experience as a professional speaker, seminar leader and organizational consultant to his diverse, international clientele.  


Podcast Highlights

Who is Michael Gelb?

Michael was so energetic as a kid that he got kicked out of nursery school. He has a core of curiosity that lead him to create his own business geared toward serving people in ways that are aligned with things that he liked to do.

The core aspect of Michael’s success and fulfillment thus far is due to the connections and relationships he’s developed over the course of his career.

Communication skills are not getting better, they are actually getting worse. Technology is great for some things but it’s eroding the way we connect with each other as humans.

What is your definition of connection?

We are networked, but not connected. We have access to information, but not to empathy. Sometimes an information onslaught makes it harder to connect to ourselves, let alone each other.

Technology is addictive. It’s taking your mind away, instead of your organs in the way cigarettes do. Have a digital sunset each day, and take a day off entirely every once in awhile.

What are the seven different skillsets that have been broken by technology?

The one factor that is the greatest predictor of health, wealth, and longevity is connection.

Emotions are contagious, be careful what you catch and you spread. Narcissism ends up being very expensive in business, the new model is making the world a better place and making people happy consistently. Treat people with respect, and you will engage and motivate the people you work with and work for.

How do introverts create new relationships?

Whatever your personality type is, it’s important to do the opposite of whatever your natural inclination is. Growth comes from getting out of your comfort zone.

Looking at the world from a different perspective is a core skill of leadership.

What does that kind of discipline look like in practice?

If you’re introverted, go up to five people you don’t know in a room and introduce yourself. What starts out as anxiety turns into exhilaration when you realize you are doing something you’ve never done before.

Becoming a successful and wiser human being includes pushing your boundaries, especially with something that has a business application.

Reference: How to Think Like Leonardo da Vinci: Seven Steps to Genius Every Day, Michael Gelb

Michael’s Takeaway

Write down your life purpose. Write down the major areas of your life and map it out, then write down the most important goal in each area of your mind map. Put your goals into the context of what drives you, when you have a higher purpose you liberate way more energy to make it happen.





Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

CFD 433 - Turning The Great Bubble Burst To Your Advantage

Dec 22, 2017 48:07


Harry Dent is the Founder of Dent Research, Editor of the FREE newsletter Economy & Markets, and the author of the new book The Sale of a Lifetime:  How the Great Bubble Burst of 2017 Can Make You Rich. He received his MBA from Harvard Business School and was a successful consultant to  Fortune 100 companies at Bain & Company.  Harry Dent has also spent much of his career speaking to executives, financial advisors and investors  around the world.

He’s appeared on “Good Morning America,” PBS, CNBC and CNN/FN. He’s been  featured in Barron’s, Investor’s Business Daily, Entrepreneur, Fortune, Success, U.S. News and World  Report, Business Week, The Wall Street Journal, American Demographics and Omni. He is also a regular guest on Fox Business.  


Podcast Highlights


Who is Harry Dent?

Harry started out by working for Fortune 100 companies after college and later went to Harvard Business School which is where he really discovered his true talents of seeing the big picture. thinking on his feet, and being able to argue very well. While consulting, Harry learned nearly everything there is to know about demographics.

What was it that clued you into what you were meant to do?

Harry’s experience in Harvard debating real world business scenarios is where he learned that he was really good at communicating.

Some people know what they want to do when they are 14, and some people like Harry discover what they are meant to do through a series of fortunate accidents.

Leaving Bain & Company was like jumping off a cliff, but entrepreneurs have to take calculated risks on top of having a vision for the future.

Where did you develop the confidence to make the jump?

You have to take risks intelligently. Start your business on the side, and make the transition step by step. Test everything and don’t gamble your whole enterprise on one thing.

What is it about demographics that gets you so excited?

Prior to President Ford, there was no middle class. With the creation of the middle class and the advent of the baby boom, demographics became incredibly important.

Demographics give you an insight into the behaviour of very large groups of people. If you’re taking a risk, you’re going to have a better chance of succeeding if you take that risk on a trend that is growing instead of declining.

Marketing is always the biggest initial challenge of starting a business, not the technology.

What do you think about trends in real estate?

Nursing homes, funeral homes, and hospitals will all see upswings in terms of real estate value.

Harry predicts another big financial crisis coming, but he believes it’s going to be a major opportunities for entrepreneurs.

How can we see bubbles coming and what can we do about them?

You have to have a different strategy for each season. When bubbles occur, they don’t see them because they are getting something for nothing.

Bubbles rise exponentially, come to an explosive climax, followed by a tremendous crash. You can’t keep a bubble going forever. As high as they go, the crash twice as fast. It’s better to get out early, rather than late. When things go down, the opportunities open up at the speed of light.

The businesses that hunker down at the top of the bubble with cash in reserve will find themselves in a solid position to pick up assets at a deep discount.

Where do precious metals come in?

Harry told his clients to get out of gold and silver at the top of the market. Gold is an inflation hedge, but this bubble will be deflationary.

What are the four indicators that you looked at to see the crash?

There was a geopolitical cycle that peaked in 2000 and doesn’t finish until 2020. The second cycle is the generational spending wave which peaks around the world at different times. The third is an innovation cycle that affects productivity which peaks every 45 years like clockwork. The final indicator is a scientific indicator, the sunspot cycle which is now pointing down.

All indicators are pointing down at the same time, the only other time this happened was in the early 70’s and 30’s.

When something happens that doesn’t seem to fit, Harry will dig until he identifies the cycle that’s responsible.

Reference: The Sale of a Lifetime:  How the Great Bubble Burst of 2017 Can Make You Rich, Harry Dent

Harry’s Takeaway

Sell any financial asset that is not strategic to your business or life and create as much cash as possible. The people will ample cash reserves and cash flow will be in the best position to take advantage of the coming crash.



The Sale of a Lifetime:  How the Great Bubble Burst of 2017 Can Make You Rich


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CFD 432 - HEX Performance: Create More Possibility In Your Life With Access Consciousness

Dec 19, 2017 38:15


Gary M Douglas is an internationally-recognized thought leader, bestselling author, business innovator and founder of Access Consciousness®, a set of pragmatic tools and teachings that is transforming lives in 173 countries around the world.

He is the author of Benevolent Leadership For A Better World. An avid investor and entrepreneur, Gary has established ‘The Antique Guild’ store in Brisbane, Australia, owns a thriving stud for Costarricense De Paso horses, and is currently building an eco-retreat in Costa Rica.


Podcast Highlights

Who is Gary Douglas?

Gary Douglas has spent his life in the search of truth. He made a commitment to himself to be honest and stand by his word early on in his life.

Gary’s experience in the horse industry taught him that you can’t lie with a horse, either you’re there or you’re not. If you’re true with a horse, they will be true for you. Gary wondered if it were possible to be that way with people too. This realization eventually lead to the creation of Access Consciousness.

Do people not have a commitment to completing?

Never give up, never give in, and don’t quit. But that doesn’t mean you won’t change if something is not working. Most people talk themselves out of even trying before they really know if it’s working or not.

If you want something, what do you have to be or do to get it? If you are not being or doing that thing, how can you expect that you will get what you wanted?

What did you learn that allowed you to come to that realization?

Gary set his goal to own a horse. Once he knew what he wanted, he learned how to be so good at riding horses that he was able to get better deals on horses that no one else could ride. He would then teach the horse how to let people ride them, and be able to sell that horse for much more than he purchased it for.

If you’re not willing to be or do what you need to succeed, you will not achieve your goals. Your level of commitment will reflect in your results.

What was the genesis of Access Consciousness?

Access Consciousness is about creating the tools and techniques that allow people to create more in their life.

If you ask a question, the universe can give you an answer. You have come to a conclusion, the only thing you can be aware of is the conclusion you already have.

What is the role of failure?

Always look for a constant state of expansion instead of a result. You should always be aware of what is going on and assessing what is working and what isn’t.

Once you make the choice to pursue a goal, you will discover the path to make it a reality. You need to find out what is possible, not just what is probable.

Things that are easy for are not necessarily easy for everybody. The thought patterns we’ve been taught are not serving us anymore and we need to think of the world in terms of what is possible.

Don’t try to create the change you want to see in the world, be it.

Where should we look to discover our hidden talents?

Think about the things that are natural and easy for you, and brainstorm ways you can use that skill to make money.

Reference: Benevolent Leadership For A Better World, Gary Douglas

Gary’s Takeaway

Never give up, never give in, and never quit. Never listen to anyone else and don’t share your ideas with people. The one thing that most people will tell you first is why you can’t do it.





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CFD 431 - HEX Performance: From Athlete To Entrepreneur

Dec 15, 2017 40:23


Drew Westervelt is Founder & COO of HEX Performance. As a 9-year professional lacrosse player, Drew has traveled the world competing and performing at the highest level, discovering first-hand the challenge of washing performance wear and athletic gear.

Born and raised in Baltimore, Drew has deep roots in his hometown. After graduating from UMBC, it was only natural to build HEX in the city he loved. Drew’s rejection of the status quo and his experience in team management both on and off the field led to the development of HEX products that are changing what clean means for laundry today.  


Podcast Highlights

Who is Drew Westervelt?

Drew viewed what most would call a disability a gift. Being dyslexic forced Drew to change the way he learns and approach things differently.

Drew wasn’t always on the path of the entrepreneur. He got an uninspiring job out of college while playing professional Lacrosse on the weekend, which lead him to having the idea that eventually lead to the creation of HEX. HEX has essentially been a story of multiple pivots and innovations in the market and the technology.

HEX is to detergents what Uber was to the Taxi industry a few years ago.

What was the timeline on HEX performance?

Being a professional Lacrosse player gave Drew a platform that he wouldn’t have had otherwise and opened doors for him that never would have been there.

Drew realized that he needed to engage people and have a scrappy guerilla mindset in order to get his product out there.

Targeting specific groups of people and letting the performance of the product speak for itself has been a very successful strategy. Beating the street and talking to people has been the method of choice.

Drew’s Takeaway

Dive right in. Being an entrepreneur is an incredible process. It’s completely empowering, it’s completely terrifying, but at the end of the day you’re much more fulfilled if you can find something that you’re passionate about. Even something as silly as laundry detergent.



hexperformance.com Use promo code CASHFLOW

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CFD 430 - The Principles Of Real Estate Investing

Dec 12, 2017 42:33


Erik Stark is an Expert Real Estate Entrepreneur, Educator, Marketer, Ubercool Dad and Dedicated Husband of 13+ Years. Erik has purchased hundreds of properties, created masterful marketing pieces, shared the stage with the top real estate and personal development educators, helped thousands of people improve their lives and continues to pour his life into people, friendships, disciplines, breakthroughs and growth.  


Podcast Highlights

Who is Erik Stark?

If you want to know who Erik really is you have to observe him, not just listen to his words.

Erik originally went to take the test for his Real Estate license right out of high school but after being told there wasn’t enough people in the class and the test was cancelled, he believed that Real Estate wasn’t for him. He later went on to work in an automobile detailing shop where he met up with a friend that convinced him they should go into the Real Estate business together. In the first eight months in business, they closed 35 deals and generated just under a quarter million dollars in profit.

What was it like when you realized you could make that kind of money?

The biggest breakthrough in Erik’s business life was when he realized he learned a new skill that he could take it wherever he went.

Principles of Real Estate Investing

“The man who chooses his own principles can gladly choose his own methods throughout life.” Ralph Waldo Emerson

Success and entrepreneurship is not about what’s quick and easy. It’s about a systematic approach to testing and improving your process.

What are your top three principles?

Stop chasing an opportunity and work a strategy instead. Focus on lead generation. Focus on your vision and don’t abandon it for something new and shiny.

There are a million ways to make money in Real Estate, but when you strategy aligns with your values that’s when you create something very special.

Once you have a team that can execute, your job becomes generating leads to keep the team working. Taking lead generation to the next level is how you can stand out in the marketplace.

Everyone questions their path every once in awhile. When you know your “why”, it will lead you to the right path towards greatness. You will never outearn your personal growth.

What is it in your vision that helps you push through?

There is no growth without trials. Get comfortable being uncomfortable. There is risk no matter which path through life you pick.

Erik’s Takeaway

You have to find something bigger than yourself that is going to help you keep it together when the negative voices start talking. Break it down to its core so you know exactly why you’re pushing so hard. With regards to Real Estate, learn it from a street level that is close to home. Have as many conversations with buyers, sellers, and lenders of Real Estate that you can.





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CFD 429 - Surviving and Thriving with the Thriver’s Edge

Dec 8, 2017 40:46


Donna Stoneham, Ph.D. is a master executive coach, transformational leadership expert, author, activist and speaker.  For twenty-five years, she’s guided several thousand Fortune 1000 leaders, teams, and organizations unleash their power to thrive™ in work and life. Donna's award-winning book, The Thriver’s Edge: Seven Keys to Transform the Way You Live, Love, and Lead was named by BuzzFeed as “Nine Awesome Books for Your Kick-Ass Career.” 

She is also a contributor in two books, The Coaching Code: Practical Tips for Cracking the Code and Building a Successful Coaching Business and Ask Coach (October, 2016). As one of the world's leading coaches, Donna will be featured in the upcoming full length documentary, Leap! The Coaching Movie  


Podcast Highlights

Who is Donna Stoneham?

Donna is fully committed to do everything in her power to help people work and thrive. Just over 50% of the people in the US believe they are thriving despite the fact the US has the world’s biggest economy.

Seven out of ten people that go to work in the US are not engaged in their jobs. If you are one of the people that is thriving, it’s important to pay it back and pay it forward.

Donna became very sick while running two businesses and completing her graduate degree, but that trial lead to her discovering the truth of what her mission really is.

Where does the courage to make that decision come from?

“At what price, freedom. At what price, responsibility.”

Donna felt the financial freedom and sacrifices of being an entrepreneur outweighed the benefits of working for someone else. After getting sick, Donna decided that anything she worked on had to be in the service of a deeper mission.

What constitutes thriving?

There are seven keys to Thriving: Trust, Humility, Resilience, Inner Direction, Vision, Expansiveness, and Responsibility.

Many of us have a limited perspective and are unable to see the full landscape of what is possible. You must be willing to change and learn if you want to enlarge your perspective.

Balance is what makes life rich and robust. If all you do is focus on your work all the time, you are unable to grow.

Use your intuition as your inner compass, the trick is to discern your intuition from your ego. You have to be willing to make the shift from “what can I get?” to “what can I give?”

How did you evolve to that level of thinking?

There are two ways you can learn or grow, either through inspiration or desperation.

Equal parts reflection and reaction are important to growth in the right direction. Having a reflective practice as part of your day is crucial.

Does business factor in thriving?

Once you live your own personal mission, the sky's the limit on what you can achieve and accomplish.

Reference: The Thriver’s Edge: Seven Keys to Transform the Way You Live, Love, and Lead, Donna Stoneham

Donna’s Takeaway

Surround yourself with soul tenders, people that will support you and your journey. Reconnect yourself to your mission and purpose daily. Before undertaking something, ask yourself “does this align with my mission?” and trust that the universe will send you an opportunity that will be a better fit.





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CFD 428 - Become an Irresistible Consultant

Dec 5, 2017 45:03


David A. Fields is the Managing Director of Ascendant Consortium, a group of elite, independent business consultants whose clients span the Fortune 500. He is the author of the new bestselling book The Irresistible Consultant's Guide to Winning Clients: 6 Steps to Unlimited Clients & Financial Freedom.

Named one of Advertising Age magazine’s “Marketing Top 100,” Fields has worked with consulting firms and individual consultants all over the world who are anxious to grow their practices and earn a steadier, more reliable income.  

He has been featured in Bloomberg Businessweek, USA Today, CNNMoney and The Huffington Post, writes a monthly column for IndustryWeek and Consulting magazines. Fields is a sought-after speaker to national and international executive audiences.  


Podcast Highlights

Who is David Fields?

David considers himself an “everyday hero”. After business school, David started in corporate America doing sales before getting into consulting and spinning off his own firm with a partner. After four weeks, his partner jumped ship and David found himself with a company that had virtually no clients. Some timely advice from a colleague which revealed David’s innate ability to sell consulting services changed the course of David’s business.

What makes you different?

David is willing to persevere and try again, even in the face of failure. Be willing to find help, ask for it and keep trying.

David’s philosophy is that all the answers come from outside your life. As a consultant, it doesn’t matter what you want to do. It’s not about you, it’s about the clients.

The Rise of the Independent Professional

There are an abundance of role models for kids that are 15, 16, and 17 years old that have been successful in business that are driving a generation of independence.

Why do so many consultants have challenges landing clients?

Consultants are too focused on themselves instead of paying attention to the market. It’s not about all the things you can do, it’s about what the market needs you to solve.

When you are very specific with what you do, people will call you first if they have that specific problem. You have to pick a problem that is pervasive enough and expensive enough that people want to solve.

Why do consultants undercharge?

In many cases, people are undercharging for their services. When you charge higher fees, you have the room to do whatever you need to get the client the best possible result.

Whether or not you are undercharging is the hardest question to answer. Can you create a higher value? If so, you can charge larger amounts.

Clients aren’t paying you by the hour, they are paying you for a specific results. You don’t charge the same for every client.

Have standardized systems and approaches, not a standard list of services. Tailor your solution to your client to fit like a glove. Discovering what is driving your client better than the even know themselves will make you the obvious choice.

Before you can make a sale and get more visibility, you have to make a bigger impact.

Reference: The Irresistible Consultant's Guide to Winning Clients: 6 Steps to Unlimited Clients & Financial Freedom, David Fields

David’s Takeaway

Listen to the voice and manage it, address and test its concerns. We all have that voice but the question is: does it scare you or do you use it to help you move forward?






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CFD 427 - Surviving and Thriving By Overcoming Obstacles

Dec 1, 2017 47:23


Janine Shepherd reveals the story of the accident that changed her life and how you can learn who you really are by overcoming obstacles .

Janine Shepherd is a former Olympic skier-turned-pilot. Her career as an athlete ended when she suffered life-threatening injuries when hit by a truck during a training bike ride. Before the accident, she had been in contention to win Australia's first ever medal at the Winter Olympics. Though she was told she would never walk again or have children, and doctors had significant doubts as to whether she would survive at all, she defied all of these, and her story later became the focus of national attention, as well as a popular telemovie. She is the author of the new book Defiant: A Broken Body Is Not a Broken Person. 


Podcast Highlights


Who is Janine Shepherd?

Janine started her athletic career at the age of 6 which is the age where she discovered her “superpower”. Janine found her love of the hills, she learned that by loving the hills she became physically stronger than her competitors but also mentally tough. That is where she earned the nickname “Janine the Machine”.

There is always another hill. Once you accept that life has hills, the hills don’t matter anymore.

How did you go from running to Olympic skiing?

Australia is not known for winter sports but it actually has ideal conditions for winter training. Janine decided early on that she was going to be the one to break the 4-minute mile of Australian winter sports. She was invited by the Canadian Olympic team to train in preparation for the 1988 Calgary games prior to the accident that changed her life.

Janine’s mindset around hills made cross country skiing the winter sport that she knew she could excel at.

The Day Janine’s Life Change

Most athletes competing at a high level need to be extremely focused. During a long day of training, Janine suffered a terrible accident. Janine was struck by a speeding truck which resulted in a number of life threatening injuries, injuries that she was not supposed to survive. After 10 days in extensive care and a death experience, she returned to her body and realized there is a difference between what happens to your body and what happens to you.

As an athlete, Janine defined herself with her body. When her body became damaged, she had to make the choice to redefine her identity and experience life in a completely different way.

After extensive surgery and six months in the recovery ward, she was told that the damage was permanent and she would never be able to do things she did before. Janine felt like a prisoner in someone else’s body and became depressed.

After a frank discussion with a doctor about Janine’s sex life, Janine felt like she hit rock bottom and had lost everything. Rock bottom doesn’t reveal who you are, it reveals who you are not.

Who are you Janine?

Janine is not her body. There is something inside of you, your spirit, that is independent of your physical body. Janine still loved the hills.

If you tie your self worth to things that are outside of you, you are doomed for failure. Life is a dance between letting go of who you are and becoming who you will be.

What have you been able to do since?

Janine had a moment of clarity one day and decided that if she can’t walk, she could fly. She booked a trial flight with an instructor and that day discovered her love of flying. There is no greater metaphor for freedom than flying.

The magic happens on the other side of the hill. Within 18 months, Janine became a fully licensed pilot and ended up teaching others how to fly at the same place she received her first training flight.

Janine found a sense of incredible achievement and joy in reinventing her life. She went on to become a published author, speaker, mother of three and connecting with people around the world.

Reference: Defiant: A Broken Body Is Not a Broken Person, Janine Shepherd

Janine’s Takeaway

Don’t let anyone else set your limitations. Create your own life and determine yourself what you can and cannot do. Stay focused on your own authentic path and love the hills.




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CFD 426 - Relationship Secrets and the Becoming a Better Leader

Nov 28, 2017 44:17


Scott Kriens, one of the founding fathers of the modern internet, reveals why the quality of your relationships determines the quality of your life.

Scott Kriens is the Chairman and former CEO of Juniper Networks. In 2010, Kriens and his wife Joanie founded 1440 Foundation and are now building 1440 Multiversity, a state-of- the-art immersive learning destination opening in May 2017 in Santa Cruz County, CA. The 75-acre campus will offer weekend and 5-day courses taught by world-class faculty, house up to 375 guests and support individuals in leading more integrated lives. 


Podcast Highlights

Who is Scott Kriens?

Scott started out as simply curious about the way things worked. You can learn a lot more by listening than you can by talking.

Scott’s path to the CEO of Juniper Networks started with learning early on that he should rely on his own judgement. After his experience in the computer industry of the 1980’s Scott was part of a company that went public. This later on put him into a position to get in on the ground floor of Juniper Networks, the company responsible for creating much of the infrastructure that the internet runs on today.

An Exercise In Leadership

In the case of developing computer technology, it can take up to a year and a half before you know whether or not your product works at all. Luckily enough for Scott, Juniper Networks was successful creating a working chipset more often than not.

What do entrepreneurs need to be aware of to be prepared in times of uncertainty?

The most important thing for a leader to do is to tell the truth about their uncertainty and doubt. If you pretend there is no storm, you will be seen as not credible or that you think your team can’t be trusted.

Give yourself permission to say “I don’t know.”

What need do you see that make 1440 Multiversity required?

Scott believes that strong relationships are what is needed within the world of leadership. The most critical tonic for leading a healthy and rich life is strong relationships and how to excel at them.

Relationship should be a verb, not a noun. It’s an action, not just a thing.

Why did you take the risk on this?

Scott and his wife Joanie were thinking about the power of relationships and the impact on their own lives and that inspired the creation of their foundation. They discovered that being well being is about developing the skills that allow you to connect to people around you.

What is the 1440 Multiversity?

1440 is the number of minutes in a day, Scott’s wife chose the number as a reminder to be present. Be mindful is the only great use of your time.

The Multiversity is built in the redwood forest of the Santa Cruz mountains as a learning destination where students can come and relax and improve their relationships in the areas of life they want most.

Finding other people who are interested in the same things is a great way to learn.

Why did it need to be a physical place?

If growth and change are really important to you, there is some dedication that is necessary. Being surrounded by the things you are trying to change can make it pretty difficult to do it.

The time spent at the Multiversity is 10x more effective than piecing your learning together whenever you have a chance.

What are some of the best received programs so far?

There are a number of teachers across a variety of disciplines that are coming to teach at the Multiversity. The majority of the programs are geared towards more than just adults, there are classes for everyone.

Where do you see the Multiversity going?

Scott hopes that the Multiversity and the teachings about relationships eventually becomes obsolete and unnecessary. In many parts of the world, relationships are as important if not more than reading, writing, and arithmetic. Scott believes that building good relationships is the best education you can get.



Scott’s Takeaway

Look courageously and authentically at who you are and what you wish you were but aren’t. Be willing to stare at that, and then the most critical part is to admit it to somebody else and ask for help.




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CFD 425 - Gender Intelligence Leads to Breakthrough Growth

Nov 24, 2017 37:21


Richard Nesbitt shows you how to immediately improve the results of your business by using gender intelligence to create massive growth.

Richard Nesbitt is the President and CEO of Global Risk Institute and an Adjunct Professor at the Rotman School of Management of the University of Toronto. He was the former CEO of CIBC World Markets, TSX Group and HSBC Securities Canada. He is the author of the new book Results at the Top: Using Gender Intelligence to Create Breakthrough Growth. 


Podcast Highlights

Who is Richard Nesbitt?

Richard was born and raised on a farm, and through his education and persistence has managed to get where he is today.

There is no substitute for hard work is a very traditional approach but it’s true. Hard work is the great leveler.

What is gender intelligence?

Gender intelligence is essentially taking the talent of both genders and using that to improve your business. The combination of both talents is superior than just utilizing one or the other.

Gender intelligence in leadership can improve dividends, earnings, cash flow, and stock prices. It can also improve employee satisfaction, innovation, and the company’s environmental record.

Why is it less common to see women in leadership positions?

The research in gender intelligence is only around 20 years old, so it’s taking time to filter down into the culture of business.

Research has shown that as you get towards gender parity in leadership, you will see an improve across the board.

How significant is the improvement?

Getting closer to gender parity in leadership can significantly improve earnings. According to research, at 30% of the board being the opposite gender is where you will see significant gains but, just adding a single board member of the opposite gender can lead to immediate improvements.

How did you come up with the idea for the book?

The book was originally addressed to men and how they could improve their companies.

The dynamics of men and women in leadership is an evolving trend. Richard’s book was an effort to organize the research and provide a resource for every business to leverage.

How does this impact equal pay?

Women are paid less than men on aggregate, due to not being represented in all areas in business. By focusing on bringing women into these leadership roles, we can help close the gap.

What can entrepreneurs do to make sure they don’t end up in this situation?

Entrepreneurs need to understand that gender balance is an important issue in the success of their business.

It’s important to always hire the best person, but you have to get out of your comfort zone and consider the the benefits of a diverse set of candidates. Look outside of your traditional sources. Gender intelligence should be a priority item on your list.

How can business owners begin implementing gender intelligence?

CEO’s have to make this a goal they are going to achieve in their lifetime. Prepare for the expiration of a director’s term limit instead of being caught off guard and replacing them with someone just like you.

Gender diversity is one of the lowest cost things you can do to improve your company’s results.

Reference: Results at the Top: Using Gender Intelligence to Create Breakthrough Growth, Richard Nesbitt

Richard’s Takeaway

Think very carefully before you act about what you are trying to achieve and ensure you are trying to achieve it for the right reasons. Examine your own preconceptions about why you do what you do, become curious about the research and once you are convinced, act on it.



Results at the Top on Amazon

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CFD 424 - The Philosophy of the Pyramid of Success

Nov 21, 2017 37:53


Neville Johnson breaks down John Wooden’s Pyramid of Success and how you can apply his philosophy of success to your life and career.

Neville Johnson is the Founding Partner of the law office Johnson & Johnson, LLP and, “One of the most feared litigators in Hollywood” who has represented Nancy Sinatra, members of The Beach Boys, Fleetwood Mac and The Moody Blues, Jane’s Addiction, The Temptations, and the heirs of Buddy Holly and John Lennon. He is the author of The John Wooden Pyramid of Success: The Authorized Biography, Philosophy and Ultimate Guide to Life, Leadership, Friendship and Love of the Greatest Coach in the History of Sports. 


Podcast Highlights

Who is Neville Johnson?

Neville was raised in Southern California and graduated from UC Berkeley during the Student Revolution. Neville grew up knowing that  he was going to go to law school due to two things: His love of arguing and his family and friends.

There is no substitute for hard work. As a lawyer, there is no escape from knowing what is going on in the world of law.

Where did the fascination with John Wooden come from?

After achieving his primary goal as a lawyer and representing some of the biggest names in the entertainment industry, Neville discovered John Wooden’s Pyramid of Success. Neville contacted John and asked to do an interview. He ended up writing a biography of John Wooden the same way that Neville works on a law case. As thoroughly as possible.

John’s philosophy that success is peace of mind which is the direct result from the self satisfaction that you’ve made the effort to become your best is what drew Neville to write the book.

You can achieve whatever goals you want, as long as they are realistic.

The Entertainment Industry

Entertainers are entrepreneurs of a different sort and it’s one of the most exciting and difficult industries to be in. You have to have the talent, the drive, and the will to climb the ladder.

What are the top 3 Woodenisms you would recommend?

Whatever you are doing, you have to know as much as you can about that particular thing if you really want to succeed. Your life has to be in balance, your work is important but you can’t neglect your health or relationships along the way..

“Make each day your masterpiece.” Don’t miss out on the good things in life.

“The most important word in the English language is love, followed by balance.” Don’t get really high after a victory, don’t get really low after a defeat.

An Unlikely Source

Despite John Wooden’s incredible success, he was always approachable and down to earth.

John Wooden was the ultimate mentor for the people who knew him.

Making Time For Things You Enjoy

You can’t spend all your time working if you want balance in your life. Neville enjoys writing and playing music, writing and publishing poetry, and traveling.

Hobbies are an opportunity to create and improve yourself, you are never going to attain perfection but that is what you are going for.

Making Mistakes

“You can make mistakes, but you’re not a failure until you start blaming someone else.”

Whenever you make a mistake, try to rectify it as quickly as possible.

Reference: The John Wooden Pyramid of Success: The Authorized Biography, Philosophy and Ultimate Guide to Life, Leadership, Friendship and Love of the Greatest Coach in the History of Sports, Neville Johnson

Neville’s Takeaway

Google the Pyramid of Success and study it. Figure out if you are living up to the principles of John Wooden’s philosophy. Realize that teamwork is the key to success, according to John Wooden: “It’s not about the best players, it’s about having the best players working together.”



Neville Johnson on Amazon

Trevor Mcshane on Youtube

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CFD 423 - From Career Planning To Entrepreneur

Nov 17, 2017 44:16


Martin Yate talks about how being tenacious with your goals and focusing on building a career instead of just going from job to job is the best way to achieve your dreams.

Martin Yate is the New York Times bestseller of the "Knock Em Dead" series of books, which are collectively published in 63 foreign language editions and awarded as the best career planning books in the world.


Podcast Highlights

Who is Martin Yate?

Martin started out with three goals in life. Be a pastor, or become an actor, or write the great American novel. None of those panned out but out of those mistakes Martin’s career evolved.

Martin spent twenty years writing and couldn’t get published. Martin landed a job as a headhunter, parlayed that into a position as a trainer. Martin started writing manuals and was eventually turned down by 65 publishers, but the 66th publisher bought the book and Knock Em Dead is now on its 32nd edition.

Where does your tenacity come from?

Martin is an immigrant to America with ADHD. Instead of looking at ADHD as a disorder, we should see it as a superpower that has to be managed.

Multitasking is one of the most used words in job posts, ADHD is multitasking with focus.

Why did you keep writing?

You have to pursue your dreams and put juice into your life. Once Martin found success with his first book, the publisher basically demanded to keep the relationship going. Books became Martin’s primary method of income generation.

What would you say to people thinking about building a business but are afraid of hiring?


If you can not hire employees effectively, you will not be able to manage them productively.

We live in an uncertain world. You have a job until your company can replace you with someone cheaper. Odds are you are going to be pushed out of your career at some point so you need to have an entrepreneurial attitude when it comes to work.

Technology has destroyed the traditional career. It has changed every job in every industry and made going into business for yourself infinitely easier.

Look at your career as training for your future business.

What does career planning look like today?

Once you get out of school, get a job in a big stable profession. That’s where you will develop the skills that will help you be successful as an entrepreneur.

The skills that appear in job postings like communication skills and critical thinking are the skills that determine success in every area of life, not just on the job itself.

Statistically, you will have around three different careers over the course of your working life. Put an emphasis on skill development.

What is your new mantra?

We look at the corporation as a new mother and father. Take everything you have learned and apply it to ME Inc.

Live up to your expectations and dreams and not your income.

Reference: Knock Em Dead’s The Ultimate Job Search Guide 2017, Martin Yate

Martin’s Takeaway

Start thinking in terms of calendars and not clocks. Keep your job and work towards pulling the trigger on starting your own business because that job is under writing what you need to be successful.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

CFD 422 - Leading And Living Your Values Without Selling Out

Nov 14, 2017 46:45


Dr. Jeff Thompson shares his philosophy of values based leadership and shows you how to do good in business while also doing well.

JEFF THOMPSON, MD, is executive advisor and chief executive officer emeritus at Gundersen Health System, pediatrician, author, and speaker on values-based leadership.

Jeff’s experience in leadership is far-reaching, having led diverse teams, projects, and divisions, before holding multiple senior executive roles, including fourteen years as a CEO responsible for a staff of seven thousand, hundreds of thousands of patients, and a billion dollars of the community’s money within the Gundersen Health System. His long experience as intensive care pediatrician and senior executive has shown him over and over again how leading from one’s values has the power to affect long-term meaningful change.


Podcast Highlights

Who is Jeff Thompson?

Jeff Thompson is a husband of 38 years, the father of three children, and his early goal was to get into medical without debt. From the time he was little, Jeff knew he wanted to be a doctor so he worked as a janitor to pay his way through medical school.

Jeff’s mother was an early inspiration and model for values based leadership, despite not having the usual characteristics we think leaders would have.


What skillsets did you develop that helped you lead?

Everyone in an organization is important. As a leader, you should facilitate the people who work for you and learn what they need to perform at a high level.

Even with a distributed workforce, you need to have a structure and a purpose for your organization. Money is not enough to attract good people.

How do we do good and do well at the same time?

You must have a disciplined disregard for conventional wisdom. Don’t throw away everything, but not all wisdom is equal. Leading with values will raise the whole level of the organization over the long term.

Finances are a tool, not the goal. By having the goal of improving the health and financial well being of the community, Jeff managed to attract many partners that wanted the same thing.

More people die of air pollution related illness than HIV and malaria combined. By starting with environmental conservation, Jeff managed to save significant amounts of money every year after the initiative while also serving the community.


How do you deal with resistance?

The proof is in the numbers. Careful measurement of the effects of your values based policy is the disciplined part of disregarding conventional wisdom.

Short term thinking is one of the biggest problems in the country today. Live your values and follow through.


What is the first step for entrepreneurs who want to lead with their values?

You have to be very clear about your values and what you want to accomplish. People will change jobs because of the values that are exemplified. Start with your values and then look for partners who share them.

The numbers are a tool to serve your higher purpose. The smaller the organization, the easier it is to set the tone you want.

Reference: Lead True: Live Your Values, Build Your People, Inspire Your Community, Dr. jeff Thompson


Jeff’s Takeaway

Sit down and write out a purpose statement of why your company exists and what you really want to accomplish. Set out four to six values that you are going to live by. Then sit down with your leadership and staff and let them advise you on how to get from where you are now to where you want to go.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

CFD 421 - Achieving Your Vision In Life

Nov 10, 2017 42:55


Isaac Lidsky comes onto the Cashflow Diary podcast to give you some much needed inspiration and to show you that you can achieve your vision for your life.

As a successful child actor in a major sitcom, Isaac Lidsky was bound from Hollywood to Harvard, where he graduated by the age of 19 – all while losing his eyesight to a rare blinding disease, retinitis pigmentosa. Yet his future was bright. Today a blind CEO, author and acclaimed speaker, Isaac shares a remarkable story of courage and achievement amid tough challenges.

America first saw Isaac as “Weasel” in NBC’s "Saved by the Bell: The New Class". As a teen, while his eyesight gradually diminished, Isaac began to reframe his outlook. Dispelling any notion of disability, Isaac honed his true vision. And his achievements kept mounting: following college, he not only spearheaded a start-up, but then studied law and graduated Harvard Law School magna cum laude; clerked for Supreme Court Justices Ruth Bader Ginsberg and Sandra Day O’Connor, and argued and won more than a dozen appeals in federal court on behalf of the United States.

As an entrepreneur and leader, Isaac’s first company sold for $230 million, and he then transformed a struggling Orlando subcontractor into the leading $150 million construction services company ODC Construction, he now leads as CEO. He also founded Hope for Vision, a nonprofit organization that funds the development of treatments and cures for blinding diseases.


Podcast Highlights

Who is Isaac Lidsky?

Isaac grew up in the Hollywood fairytale in a lot of ways. When Isaac was 13 he was diagnosed with retinitis pigmentosa and realized that he was destined to lose his eyesight. Isaac believed that he would end up alone and unremarkable, which obviously turned out to not be true.

Where did the courage to continue come from?

We all confront our challenges differently. In the face of crisis, our fears can step in and we often imagine the worst case scenario. Isaac lost his sight over the course of twelve years. The process of becoming blind made Isaac realize that we shape our own realities.

In every moment, we get to choose who we want to be and how we live our lives. It’s an inescapable responsibility.

Isaac had an epiphany in the office of his occupational therapist. He was choosing to live in the awful world that he had created for himself in his mind. He made a choice to live differently.

How did you go from the doctor’s office to creating a company?

What is it that you want to spend your time and your life on? What does success look like to you? You are living the answer to those questions every moment of your life, whether or not you are asking them consciously.

Without your diagnosis, would your life look like the way it does?

Isaac wouldn’t change a thing about his life. Going blind was one of the greatest unexpected blessings he has received.

Changing your perspective

We tell ourselves stories and limit ourselves. We listen to our fears and let them dictate the way we act. In the business world, entrepreneurs often set out to market the business or service that they want to sell. But it’s often more lucrative to create what your customers want to buy.

Why did you write the book?

EYES WIDE OPEN explores the vision and philosophy of choosing what you want to see. Isaac wrote the book with his children in mind in the hopes that they will read it in the future.

Isaac does not have vision problems, he has sight problems. No matter what circumstances we are in, there are people who have done far more with much less and have lead happier lives. It’s not our circumstances that dictate our life, it’s how we view them.

What are some challenges that entrepreneurs create for themselves?

Cash flow can be a valuable ally or a vicious foe. Too often will problems in your business will be obscured by positive cash flow. Or negative cash flow can sink an otherwise profitable venture. Business is both an art and a science.

Understanding and leveraging cash flow dynamics is what saved Isaac’s construction business.

Don’t do work that is not profitable is cash flow rule number 1. If you are not collecting money before you are paying money, it’s only a matter of time before your business will be underwater.

Isaac saw the 2011 recession as a major opportunity for the residential construction industry despite the housing market. The possibility of failure was very real but nothing ventured, nothing gained.

If you are looking for a guarantee in life, you are never going to find one. Do the research, talk to who you need to talk to, and if you believe in what you are doing, go for it! Success is in the striving for a worthy ideal.

Reference: EYES WIDE OPEN: Overcoming Obstacles and Recognizing Opportunities in a World That Can't See Clearly, Isaac Lidsky

Isaac’s Takeaway

Ultimately the art of the entrepreneur is to silence the inner critic and harness the strength within and believe in yourself. The circus of negative thoughts are not your reality unless you choose to listen to them.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

CFD 420 - The Godfather Of The Virtual Office Industry

Nov 7, 2017 35:35


This episode brings you the godfather of the virtual office industry, Frank Cottle. Frank reveals how he essentially created the just in time work paradigm over 30 years ago and how it impacts entrepreneurs and businesses today.

Frank Cottle is CEO of Alliance Virtual Offices and Chairman of the Alliance Business Centers Network. He is a recognized expert of flexible working, the virtual office movement and ‘third place’ working. Prior to creating the Alliance brand, Frank, successfully operated his own portfolio of business centers in multiple locations across North America.

Frank has spent almost the past 30 years delivering business services that are finely tuned to the workplace needs of startups, entrepreneurs and growing SMBs. Over the years he has worked with tens of thousands of business owners and, coupled with a unique global management perspective, has become the go-to authority on flexible and remote work.


Podcast Highlights

Who is Frank Cottle?

Frank started his work life as a commercial diver in Newport Beach, and moved onto the yachting industry. Eventually, he made his way into a brokerage and came to the realization that he will ‘never be an owner as long as he’s a broker’. He decided to go his own way, and opened his own real estate management business focused on changing the way people worked.

The big shift in manufacturing was just in time inventory, Frank felt that the same principle should be applied to real estate and that’s how the concept of serviced offices came about.

The idea of a 10 year lease doesn’t apply to business today.

How did you see the way the future of work would be?

Shared work and shared economies have existed throughout history and were the model Frank based his business on.

Technology has changed the way work is done in the world today, but even in the 1980’s there were signs that work was moving in that direction. Frank’s offices were actually the test labs for many of the technologies that paved the way for the gig economy.

Every entrepreneur is going to make mistakes, you just have to survive them. The will to do something is as important as having the idea to do something. The road of the entrepreneur is not always going to be smooth.

Stop worrying about what others think, and play your own game.

How do you deal with regulatory issues?

Every entrepreneur has to deal with regulation in some way. You have to know your own business and adapt appropriately. Be the best student in your industry and you will be eventually be able to work instinctively.

How did you build Alliance to its current model?

Better lucky than smart. Frank has changed the Alliance business model since its inception after learning from the dot com boom and the rise of technology. Frank looked to the travel industry as a model for offices.

Almost every company today is international. Being able to operate a business globally by providing virtual office services is the target that Frank was trying to hit. If you don’t innovate, you die.

What services does Alliance provide?

Government is a large client of the serviced offices industry as well as large corporations. The structure of employment has changed, there are fewer employees and more contractors than ever before.

A serviced office is a more efficient use of resources than the old model for companies big and small.


Frank’s Takeaway

Play the part. If you have an idea that you believe in, there is no reason why you shouldn’t act on it. If you want to win, you have to buy the ticket.






Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

CFD 419 - Leadership Challenge Facing Entrepreneurs Today

Nov 3, 2017 52:26


This episode dives deep into the greatest challenges facing entrepreneurs and the nation today with a great discussion on the principles of leadership.

David Burkus, leadership expert and author of the new book Under New Management: How Leading Organizations Are Upending Business As Usual. Forbes. David Burkus is a best-selling author, an award-winning podcaster, and management professor. In 2015, he was named one of the emerging thought leaders most likely to shape the future of business by Thinkers50, the world’s premier ranking of management thinkers. David was recently named one of the “Top 40 Under 40 Professors Who Inspire.” His work has been featured in Fast Company, Inc, the Financial Times, Bloomberg BusinessWeek, and CBS This Morning.


Podcast Highlights

Who is David Burkus?

In terms of priority, David is a husband and father first. Authors like Malcolm Gladwell and Daniel Pink were the model David used to build his career as a professor and an author. In many ways, David stumbled into his career as a professor but he’s enjoying the ride and making the most of it.

Entrepreneurs probably always knew they wanted to be entrepreneurs, they just didn’t know their business model at the time.

Which work of Malcolm Gladwell and Daniel Pink resonates with you?

Malcolm Gladwell’s Outliers made the biggest impact on David and inspired him to look deeper into the 10,000 hour rule and how people achieve peak performance.

Daniel Pink’s Drive explored the Self Motivation Theory which made a major impact on David’s life and perspective.

What is the business model of a writer?

The business model of a nonfiction writer is similar to that of a recording artist. The majority of the cash flow comes from the tours and speeches after the book is published, not from the royalties from the book sales. The book is a means to get the opportunities that come afterwards.

Why leadership?

Don’t write what you know. You should write about what you are hugely interested in and what you are curious about. The writing part of the book is the hard work, the research is where the fun is.

The area of leadership is still largely unexplored and we’re still learning about it. The new discoveries and strange things David has learned in the process is what keeps him fascinated in the subject.

What are the misconceptions about leadership?

By exploring the Great Man Theory of history, we discovered that there were common shared traits of notable leaders like charisma, intelligence, and being well spoken. It was a number of decades before we started studying the interaction between leaders and followers.

Many authors writing about leadership talk about how leaders “cast a vision” in order to get buy in, but this is not the case with real leaders. In actuality, we see that leaders are able to put to words and describe what their followers already feel.

What about the entrepreneurs that have come up with something new?

No one buys your product so that you will make money. Customers will buy your product for what they want out of it. If you help people get what they want, they will help you get what they want.

Why does it feel like their are no leaders today?

There is no shortage of people trying to lead today. You become a leader when you find yourself in the center of a community that is looking to you for guidance.

We see a lot of social movements spread much quicker now because of improved communication technology. Once you can pull away from focusing on yourself, you can scale your movement or business much faster.

What does it take for the average person to become a leader?

The first thing you have to do is smash the idea you have of the iconoclastic leader. You are a leader when you begin to worry about the concerns of the people around you and they begin to trust you.

Social media makes it easier to find your community, but you must resist the temptation to make the conversation all about you. We follow people who care about us.

What’s wrong with old management?

Frederick Taylor laid the theoretical foundation for the assembly line, and it worked really well during the industrial era. The principles apply less to the modern workplace and we need to approach problems in a different manner.

You should seek to solve your client’s problem. It’s more about what you need to ask, not so much what you need to say.

A leader should be looking for ways to remove obstacles so that those around them can do their best work.

The hiring process is broken. Trials are a more effective way of evaluating a new team member or involving the entire group in the hiring process.

Reference: Under New Management: How Leading Organizations Are Upending Business As Usual, David Burkus

David’s Takeaway

You become a leader when you experience the call that other people need you and you answer that call. When you feel that call, that’s when you are ready.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

CFD 418 - Growing As A Leader

Oct 31, 2017 39:21


This episode goes into why you should be leading into the turn and why entrepreneurs should invest in themselves and their relationships in addition to their business.

Elise is an accomplished strategic communications professional and business leader whose entrepreneurial spirit helped build Mitchell from scratch into one of the top 10 fastest-growing firms globally, a two-time Agency of the Year winner and Inc. 500/5000 Fastest Growing Company. The company’s client portfolio includes well-known brands such as: Walmart, Procter & Gamble, Hilton Worldwide, Kraft, Del Monte, Canon, Merck and others.

Under her leadership the company grew more than 500% in five years. In recognition of her accomplishments, Elise has received numerous national awards including Agency Professional of the Year, Entrepreneur of the Year, and a Top 50 Power Player.


Podcast Highlights

Who is Elise Mitchell?

Elise was always an entrepreneur at heart. She found a way to take her passion and drive and make money from it, which is the essence of the entrepreneur.

Starting a business in a smaller market with dreams of creating something world class was Elise’s first major obstacle.

Understanding Your Customers And Evolving Markets

Talk directly to your customers and seek to understand their experience. Use the opportunity to learn and grow.


Finding your courage to make your first ask is the first step to creating a real business.

Look at your current scenario, what can you tweak to make the situation better? What are the action steps that will take you to the state you want to be in? The internal battle is the hardest one to win.


The State Of Uncertainty

We often live in a perpetual fantasy that life will become simple if only we reach our fantasy destination. Nobody has all the answers, if you do, you aren’t growing.

The game is always changing and you need to be willing to face the new challenges.


Approaching The Turn

Entrepreneurs often get so focused on the business that they forget to live the rest of their life, you have to take time off the enjoy life and rejuvenate.

Enjoy the ride, we are not meant to work all the time. You are not your company and if you don’t invest time into your relationships they will fade away.

Reference: Leading Through The Turn, Elise Mitchell


Elise’s Takeaway

Get the business fundamentals down first, surround yourself with people who have skills that you don’t, get comfortable with failure and learning as you go, give yourself some runway and give it a go.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

CFD 417 - Developing Your Skillset For True Mastery

Oct 27, 2017 36:01


This episode is all about making yourself more valuable by developing your skillset and investing in your future.

David is a real estate investor/agent/author/entrepreneur/police officer in the CA SF Bay Area. David's goal is to achieve total financial independence through real estate and to help as many others do so as possible. When not hunting bad guys, he hunts deals and loves talking real estate.


Podcast Highlights

Who is David Greene?

David used to be a basketball fanatic, his love for basketball taught him that work ethic and training is more important than talent.

The things we notice are not usually the things that lead to success, it’s the fundamentals that determine who is successful or not.

Developing Your Skillset

You should try to understand why something works, not just that it works. Become the best version of yourself that you can be if you don’t want to have any regret.

Competency is the baseline, you should strive for mastery.

Mastery As A Game

True mastery comes from teaching others what you are doing.

The Fear Of Losing And The Ability To Learn

Developing a skillset is a skillset in itself. Removing the fear of failure makes the accomplishment meaningless.

Investing In The Future

Putting in the time early on is a great way to save money that you can invest and multiply later on. Small steps are the key to building confidence and skill.

Police Officer To Entrepreneur The BRRR Strategy

Working long hours to save money is hard, it’s like cutting down a tree with a dull axe.


David’s Takeaway

Create relationships with people who already know what you want to know and do what you want to do, offer to be helpful.







Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

CFD 416 - Finding Meaning In Adversity

Oct 24, 2017 41:09


This episode is lesson in redefining success. Dan Millman shows you why adversity is the way to develop your strengths and how to adopt the path of the Peaceful Warrior.

Dan Millman is a former world champion athlete, university coach, martial arts instructor, and college professor.

After an intensive, twenty-year spiritual quest, Dan’s teaching found its form as the Peaceful Warrior’s Way, expressed fully in his books and lectures. His work continues to evolve over time, to meet the needs of a changing world.

Dan’s seventeen books, including Way of the Peaceful Warrior, have inspired and informed millions of readers in 29 languages worldwide. The feature film, “Peaceful Warrior,” starring Nick Nolte, was adapted from Dan’s first book, based upon incidents from his life.

Much of Dan’s time is devoted to writing and speaking. His keynotes, seminars, and workshops span the generations to influence men and women from all walks of life, including leaders in the fields of health, psychology, education, business, politics, sports, entertainment, and the arts.


Podcast Highlights


Who is Dan Millman?

Dan Millman was usually the smallest kid in the class and faced the usual adversity that comes with it. People tend to see the product and not the process when it comes to success and they ignore the adversity and obstacles that got them there.


Voluntary Adversity And Resistance

Almost everyone takes on voluntary forms of adversity, we have more control over changing ourselves than life in general.

Stress is a part of life. To be successful in life you need two things: to be good at what you do and good at promoting how good you are.

Dream big but start small and connect the dots.


Leveling The Mountain With A Spoon

You can’t guarantee a result but you can greatly increase the odds of success by making an effort.


The Two Paths Towards Achievement

Accept your thoughts and feelings. Focus on a goal. Do what needs to be done in line with your goals.


What Is A Peaceful Warrior?

The most difficult battles we fight are within ourselves.


The Hidden School

When the student is paying attention, the teacher appears everywhere.


Waves Of Change

We are all enrolled in the school of daily life and most don’t realize it. If you can master the basics you can raise your potential at the same time.

Redefine success within the process instead of the destination.

Reference: Way of the Peaceful Warrior, Dan Millman

The Hidden School, Dan Millman


Dan’s Takeaway

Start small, little things can make a great difference. Heroes and cowards feel exactly the same fear, they just respond differently.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

CFD 415 - The WTF Moment And How To Solve BIG Problems

Oct 20, 2017 42:48


This episode tears down your ideas about business and builds them back, discover the power of positive destruction.

Seth Merrin is an entrepreneur, global business leader and philanthropist who has reinvented how Wall Street can work for good and use technology to make the markets safer and more efficient for investors.

As founder and CEO of Liquidnet, Seth has built a different kind of financial services company that is dedicated to rewiring the asset management industry by eradicating market inefficiency, driving investment performance and enabling the efficient flow of investable assets around the world.

Podcast Highlights

Who is Seth Merrin?

Seth always had the perspective of looking at what is, and how it can be made better. His experience early on with computers led him to think about how technology can disrupt current paradigms.

Solving Big Problems

Jim’s first company was focused on bringing Wall Street into the digital age.

You have to stack the deck in your favour and create an unfair competitive advantage. What are the biggest problems your prospects have that have not been solved? What is something that is just “the cost of doing business”?

There are huge problems in plain sight in virtually every industry, the question is can you see it.

The Power Of Positive Destruction

Remove the constraints and look at the problem from a completely new angle.

A Positive Impact

To create a truly positive business, you have to break down the problem and the current solutions.

Most people are stuck in their day to day activities, take some time off to walk back and look at opportunities to improve the business.

Industries Due For Disruption Adopting A Positive Destruction Mindset

Look for the WTF moments in your business. Change your mindset to be “why do we do it this way and how can we make it better?”

Quantify your problems and solve the one that can either generate the most revenue or save the most money.

Building Bigger Companies

Make your pitch so compelling that your customer would feel stupid not to accept your offer.

Reference: The Power of Positive Destruction, Seth Merrin

Seth’s Takeaway

Failure is not an option, you have to have conviction and keep pushing forward. Companies often go out of business not because the idea is bad, but because they run out of money.

Look at business as a series of problems that need to be solved. 






Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

CFD 414 - Get Out Of Your Own Way And Decide

Oct 17, 2017 54:01


This episode of the Cashflow Diary podcast is all about deciding for success and why you need to get out of your own way and stop being afraid.

Jim Palmer is a marketing and business building expert and in-demand coach. He is the founder of the Dream Business Academy and Dream Business Coaching and Mastermind Program.

He is the host of Dream Business Coach TV, the hit weekly Web TV show watched by thousands of entrepreneurs and small business owners, and he is also the host of Dream Business Radio, a weekly podcast based on Jim's unique brand of Smart Marketing and Business Building Strategies. Jim is best known internationally as 'The Dream Business Coach' and creator of No Hassle Newsletters, the ultimate 'done-for-you' newsletter marketing program used by hundreds of clients in nine countries.


Podcast Highlights


Who is Jim Palmer?

Everybody has limiting beliefs, when Jim was young he was so uncomfortable with public speaking that he would call in sick when his turn came around.

As the boss, no one is going to punish you for not doing what you are afraid of doing, you just won’t have the success you want. You have to personalize your inaction and find your Big Why.

“How is it you think you are entitled to the same level of success, yet you’re not willing to do the things that these people have done to grow their business?”


Playing Big Versus Playing Small

No one has actually died from embarrassment. Most people discover that the things they are afraid of are actually things that they really enjoy doing.

Trying to be perfect kills momentum. You’re not perfect and it’s okay.

The Imposter Syndrome

Everybody has a voice that says they may not be worth it, that someone will discover the real you. For the most part we are the same person throughout our lives, success does not fundamentally change who you are.


The Definition Of A Decision

Highly successful people have the ability to assess a situation, question, or opportunity and quickly make a decision.

If you believe in the value you provide to your customers, you have to push them to make the decision that will benefit them.


Dealing With Decision Fatigue

Hire and train right, empower your team to make decisions as well.

Don’t be afraid to take some time to refresh. Make the conscious decision to rest.


Transformational Decisions

If you are going to expect other people to respect your time, you have to respect yourself as well. Know the value of your time and honor the commitments you make to yourself.

Reference: Decide For Success, Jim Palmer


Jim’s Takeaway

Stop playing the mind game called “what if?”. You can’t create a new beginning but starting today, you can create a new ending.

Just say yes. 




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

CFD 413 - Taking A Company Public - Think 100x Bigger

Oct 13, 2017 34:51


This episode is a deep exploration of why limited thinking is holding you back from raising capital and how Clark Nichols can help you take your company public.

Clark Nichols has spent a lifetime helping companies build their businesses, both as an employee in his early years, as an owner in his ambitious years,  and as a consultant in his productive years. He is an natural born entrepreneur infused with a missionary zeal to help the next generation of entrepreneurs learn that business is a clean and honorable profession bound by rules of propriety as well as law.


Podcast Highlights


Who is Clark Nichols?

When Clark was in his mid-thirties, he lost $6.4 million in six months. An attorney convinced Clark to help a mining operation in Brazil where he managed to turn the company around and multiply the share price by many times. Once his contract ran out with that company, Clark became very popular with other companies that were having trouble.


Raising Capital

One of the challenges to raising capital is that we are thinking too small. People buy stock based on what they think the future holds for it.

Can Anyone Go Public?

As long as the business plan is strong enough and the company has the history to show they can implement it, they will have a chance at going public.


Equity And Ownership

You can raise capital and go public without losing ownership, as long as you set it up so that your stock is the only voting stock. The trick is to not give up voting control.


How Small Can A Public Company Be? Building A Strong Business Plan Limited Thinking

You can not be afraid to fail. As long as you don’t lie, cheat, or steal you can raise money without acquiring debt.


Clark’s Takeaway

Give Clark a call and tell him what your plan is, he’ll ask you what it is about your background that makes you think you can execute it. If both those things work out, Clark will show you how to get the money and how to move forward.




Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

CFD 412 - Growing A Business Into A Global Powerhouse

Oct 10, 2017 48:52


This episode goes into what it really takes to succeed in business and why you need to think big if you want to win big.

Steve is President and CEO of Miller Ingenuity, a global supplier of high technology systems that protect assets, preserve the environment, and save lives. He is an internationally recognized business transformation expert whose keynote speeches have shown many c-suite executives how to maximize their company's Innovational Potential™ and double or even quadruple their company’s growth. Steve is a published author of four books, including American Manufacturing 2.0: What Went Wrong and How to Make it Right and his latest Mastering the Art of Success, now a best seller.

Podcast Highlights

Who is Steven Blue?

Steven’s experience in a turnaround were where he learned important lessons about cash and strict operational control.

You don’t need a lot of people to have a dysfunctional toxic environment, Steven worked in such an environment and learned that a culture by design is a much better option.

Payroll Or Paying The Light Bill

Do the analysis, your gut won’t be able to tell you what to do until you make enough mistakes to know the best option. Once you have the experience, pay attention to your intuition.

You Cannot Win The Hand Unless You Place The Bet

You are going to be wrong about half the time, the planet is poised to tell you you’re going to be wrong. In the end, you have to believe in yourself.

The Source Of Courage

Without belief, you can’t have courage. You will be wrong until you are proven right.

Entrepreneurs On The Global Stage

Don’t wait for your competition to act, prepare now for the future.

How Entrepreneurs Learn To Place A Proper Bet

Don’t ever make a bet that you can lose the whole company over.

Starting Out

Find the most complicated issue you can and attempt to solve that, you’re going to spend as much time trying to solve that as you would on something easy. Start small but go for the huge upside.

If you chase small things, your thinking will be small, your planning will be small, and your results will be small.

Warning Signs

You can’t have smart manufacturing if you have a dumb workforce. If you build the people, the people build your business.

Building A Culture Of Values

Reference: American Manufacturing 2.0: What Went Wrong and How to Make it Right, Steven Blue

Mastering the Art of Success, Steven Blue

Steven’s Takeaway

Go do a firework and find out that the limitations that you believe you have are self imposed. 





Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

CFD 411 - Making Sense In The Age Of The Algorithm

Oct 6, 2017 40:54


This episode goes deep into understanding your customers as people instead of just abstractions and how to make better business decisions.

For the past 20 years, Christian Madsbjerg has worked as a management consultant. He writes, speaks, and teaches on the practical application of the Human Sciences and his work has been featured in publications such as The Wall Street Journal, Financial Times, The Washington Post, Der Spiegel, and Bloomberg Businessweek.

His latest book, Sensemaking: The Power of the Humanities in the Age of the Algorithm, was released in the spring of 2017 by Hachette Book Group. His book Moment of Clarity, co-written with Mikkel Rasmussen and published in the fall of 2014, has been published in 15+ languages. Christian studied philosophy and political science in Copenhagen and London and has a Masters from the University of London..


Podcast Highlights

Who is Christian Madsbjerg?

Christian always thought he would be an academic but his experience in university put him on the different path towards entrepreneurship instead.

According to research, only 10% of decisions are made based on data within billion dollar businesses. Christian always wondered why so many businesses made so many bad decisions when data is always available. This lead to his consultancy and the focus of his writing.

Most Entrepreneurs Are Guessing

All great businesses are found on an insight into how to serve a group of people in a meaningful way.

Looking at people and listening to them is better than asking them.

Understanding Your Customers

You can get a really good understanding of your customers by going to the area where they lead their lives and observe. Engage in their life and try to walk a mile in their shoes.

Instead of guessing, spend some time with your future customers and develop a hypothesis.

Increasing Your Odds Of Success

Innovate on many different things at the same time. The same product can seem very different if you change a few other things.


CEO’s of the modern corporate world are so separated from the average customer that the people they serve become abstractions. Without data, they have no way to make good decisions.

Try not to look at people as numbers, but as individuals. Choosing a group and then understanding it should be the target. Go to the savannah instead of the zoo.

Your Customer Has To Be The Frontend Of Your Business

Reference: Sensemaking: The Power of the Humanities in the Age of the Algorithm, Christian Madsbjerg

The Moment of Clarity: Using the Human Sciences to Solve Your Toughest Business Problems, Christian Madsbjerg


Christian’s Takeaway

Get strength from understanding the people you serve. Get inspired by going out and meeting the customers you serve. 



Sensemaking: The Power of the Humanities in the Age of the Algorithm



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CFD 410 - Taking Total Control Of Your Finances

Oct 3, 2017 44:07


This episode dives into why the typical view of investing and retirement is wrong and how you can take back total control of your finances.

An entrepreneur at heart, first business at age 11, started 30 more since.  Founder of his own martial art, Yokido ™, and holder of 3 other black belts.  Damion paid for his first rental house with a VISA, bought 150 houses in 7 states over next 5 years and then went through a $20,000,000 meltdown in 2008.  

Today he runs an Austin based FinTech dedicated to Disrupting Wall Street by getting people off the Wall Street Roller Coaster and in control of their money and financial future. Damion has written 5 books with two more being released in 2017.

Podcast Highlights

Who is Damion Lupo?

Damion’s mindset has always been that anything is possible. This turned him into a disruptor of the norm.

Your past becomes damage that prevents you from thinking in ways that seem outlandish, being naive can actually be a huge benefit. Your influences are what you become.

Top 3 Lessons From The Financial Meltdown

Failure is an opportunity to learn. You have to own the things that happen in your life, responsibility is what gives you control.

Entrepreneurs often identify with their balance sheet, which is not the truth of who they are.

Reinventing Damion

If you don’t fundamentally change your spirit, you’re going to repeat your past. You have to be willing to invest in yourself.

After Damion’s father became sick, Damion made the decision to help other people unlock their freedom and avoid regret.

What Total Control Financial Does

There are three things that matter to us most in life, Money, Health, and Sex. If you don’t have freedom and control in your financials it can be like shackles on the rest of your life.

Keep control of your assets instead of giving away your control to Wall Street. The system tries to tell you that you aren’t smart enough to make your own choices about your money.

Obstacles And Failure

You have to have experience to be able to succeed, failure is how we learn. You don’t get your superhero powers by reading a book, you have to go into the life gym and bleed and sweat.

The people you know and like don’t always make good team members, it can make having difficult conversations even harder.

The Craziest Investment Damion Has Seen A Different View Of Retirement

Why would you quit once you’ve gathered decades of wisdom?

You have to find a way to connect and contribute. When you contribute you learn faster.

Damion’s Takeaway

Use the Blank Slate Principal. How many things and people in your life are there by default that are not helping you grow into the person you want to become?  






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CFD 409 - Investing Like The 1%

Sep 29, 2017 51:18


This episode shows you how to duplicate the results of some of the most successful entrepreneurs in the world and invest life the top 1%.

Scott Picken is a South African-born real estate investor and entrepreneur. He is the co-founder of Wealth Migrate, a fintech company that offers real estate investments on its online marketplace through crowdfunding. He began offering real estate investment solutions at the age of 26 when he founded International Property Solutions.

The Huffington Post named Wealth Migrate as one of the top 60 real estate crowdfunding solutions in the United States in 2014.


Podcast Highlights


Who is Scott Picken?

Scott Picken has always loved building things. Scott built an extension onto his family’s house at the age of 13. This lead to his passion for building businesses and technology.


Building Something Tangible Versus Something Intangible

If you want to be successful, do what successful people do.

The amount of money you can make in the business world is proportional to the amount of value you can add.

How Did You Go From 13 Year Old To Wealth Migrate?

After missing out on a major opportunity during the 2008 crisis, Scott decided to build a platform that allowed people to access the capital that the institutions could as well as the knowledge and expertise to invest globally.


Using The Wealth Migrate Platform

No matter what happens to business and technology, the fundamentals never change.


What Are The Top 3 Mistakes That You’ve Made?

Systems unlock the potential for your business.

The people you know and like don’t always make good team members, it can make having difficult conversations even harder.


Scott’s Takeaway

Nobody learned how to swim by reading a book, at some point you have to jump in the water.

What doesn’t kill you makes you stronger, it’s not a case of if, it’s a case of when you will make mistakes. The important trait to have is persistence.






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CFD 408 - Think Differently - Red Teaming Your Business

Sep 26, 2017 43:25


This episode shows you the importance of red teaming and how testing your assumptions can lead to greater success.

Bryce G. Hoffman is an author, speaker, consultant, and strategic advisor who believes that individuals have the power to transform companies and cultures with the right processes.

Hoffman wrote the bestselling book American Icon: Alan Mulally and the Fight to Save Ford Motor Company, which has become a manual for leaders who want to transform their companies. His latest book, Red Teaming: How Your Business Can Conquer the Competition by Challenging Everything, was just published by Crown Business in the United States and Little, Brown and Company in the United Kingdom.


Podcast Highlights

Who is Bryce Hoffman?

Bryce is a former journalist that witnessed many booms and busts and learned how businesses succeed or fail in the process.

After writing American Icon, Bryce began getting asked to present and implement many of the ideas in the book in other businesses. This lead to consulting and Bryce’s second book Red Teaming.

Don’t take your success for granted. You have to take great leaps forward to keep success going.


How Does Red Teaming Impact Business?

Bryce was looking for a system that businesses can use to challenge their systems. Red teaming is the cure for institutional complacency.

Success is a poor teacher. Everybody needs a system that challenges their assumptions and strategies.

Red teaming can also be used to identify businesses that are vulnerable to being disrupted.

Your Competitor’s Customers Are An Opportunity


How Much Work Is It To Apply Red Teaming?

To get the full benefit of Red Teaming, you need a separate set of eyes to look at your plans.


Inside Versus Outside Red Teams Red Teaming Your Foregone Conclusions

How many areas of your life could benefit from reevaluating your assumptions?


Bryce Hoffman, American Icon: Alan Mulally and the Fight to Save Ford Motor Company

Bryce Hoffman, Red Teaming: How Your Business Can Conquer the Competition by Challenging Everything


Bryce’s Takeaway

Just ask “why?”. Why is one of the most powerful words in the English language, there is no danger to asking why.

Just because you’re Red Teaming your plan doesn’t mean that there is anything wrong with your plan, but you won’t know that until you subject it to stress testing and scrutiny.





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CFD 407 - Taking Care Of Your Number One Asset

Sep 22, 2017 50:35


This episode deals with how to take care of and take steps to improve the value of our number one asset.

Eliza Bacot began her nursing career as a nursing assistant, providing care to pediatric patients at a regional hospital. She earned a Bachelor of Science in Nursing at Kennesaw State University in Kennesaw, Georgia, in 2003. She became a Registered Nurse, caring for patients in the cardiovascular, surgical and medical intensive care units of several large regional hospitals.

Bacot completed a Master of Science in Acute Care Nursing at Emory University in Atlanta in 2007. From 2007 to 2014, she was an acute care nurse practitioner in the medical intensive care unit of a large hospital. She provided training in bedside ultrasound, served as a mentor for nurse practitioner in training and conducted many aspects of critical care.


Podcast Highlights

Who is Eliza Bacot?

Eliza grew up in the South and learned early on she had a love for the human body, which lead her down the path of pursuing medicine.

Modern medicine isn’t really focused on optimizing the human body, it’s more about treating disease.

After becoming an entrepreneur, Eliza realized that as a group, entrepreneurs can’t create good ideas or be creative if they are putting poor food into their bodies.

Finding The Courage

When something is inspiring to you, you have to share with others.

To have courage means facing your fear.

Don’t be the person who dies with regrets…if something is calling you, take action. There are no barriers.

Emotional Wellness

Your inner negative voice can destroy you.

Imagine all the people you will not impact, if you do not take action.


What Does Wellness Really Mean?

Ignoring the signs your body is giving you, is a sure path to inflammation and pain.


How Do We Make Changes?

Take small steps and start with one thing.

Without your health you won’t be able to enjoy the fruits of your labour.


What Is A Wellness Community?

A wellness community is consciously designed for social connection.


What Is Are Five Things Entrepreneurs Can Do Today?

If you knew that changing your food program could double your business, over the course of the year, would you do it?

You must look at the impact your eating habits have on your business…it will change your perspective.


Eliza’s Takeaway

Go to the person you trust the most…the one that builds you up, and ask them “how do you see me?” Write the answer down, and look at it every day.

The thing that drives us is not money or fame, it’s purpose. If you get your mindset right in the beginning, nothing can stop you.






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CFD 406 - If You Fail To Plan You Plan To Fail - College Planning And The Future

Sep 19, 2017 52:33


This episode dives deep into how college fits into your plan for your family’s future.

Brad Baldridge is a late-stage college planning specialist. He helps parents of high school students plan and pay for college using strategies such as merit aid, need based aid, tax planning, savings and investing for college, negotiating with colleges, scholarships and loans.

Over the past 10 years Brad has directly helped hundreds of families plan and pay for college. He has provided in-depth college plans resulting in increased financial aid, scholarships, identification of the right schools at the right price, and better loans.

Brad’s expertise is featured weekly on his podcast, Taming The High Cost of College. Since 2013 Brad and his expert guests have explored and shared great information related to college planning.

Podcast Highlights:

Who is Brad Baldridge?

After walking away from his corporate job, Brad found his calling helping families deal with college.


Dealing with failures, financial planning is for everyone.


Owning real estate as a safety net for entrepreneurship

Times have changed for entrepreneurs, it may be better to find a mentor first.

Planning for college and the future

Cost of college has risen and parents are now expected to pay, the two stages of planning.

Making the plan come together, the money gap and lifestyle choices after college.

Is the college ROI still worth it?

Baking college into your cake and the bank of mom and dad.

Starting a side hustle, making sure retirement is still an option.


Can you prepay for college?

Building your college list appropriately can save you tens of thousands of dollars.


Are “name brand” schools worth the price tag?

“Your competition has a degree too.” ~ Brad Baldridge


How to College by Brian Robin

Don’t wait to start.





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CFD 405 - The Message Is