Cash Flow Fight Club

Mike and Ligia Deaton

Cash Flow. You love it. You want it! We’re all seeking it, but what’s the best way to generate it? Google Cash Flow and get instantly overwhelmed. With so much noise and marketing hype out there, how do you know which approach is the best for you? We’ve wrestled with massive amounts of research, opinions and experimentation trying to find the best methods. Now we’re on a mission to find the best methods and give you all the dirty details - Fight Club style! In our signature Fight Club matchups, we bring together the heavyweights of business and investing to debate the risks, rewards and the inside scoop on the best ways to generate life-changing cash flow that can put you on the path to financial freedom. And after battling it out in the arena over 3 rounds, we crown the Champion. We alternate Fight Club matchups by going In the Champion’s Corner, where we’ll discover what it takes to forge a champion. Mindset, high performance habits, best-in-class behaviors and more of what it takes to be successful – in your finances and in life. So whether it’s passive income, real estate, side hustles or cash-flowing business ventures, we’re bringing you all the details in the most informative and entertaining show on the airwaves. Join us to see who’ll reign supreme! Who will take home the title of Cash Flow Fight Club Champion. And the 1st rule of the Cash Flow Fight Club – hit subscribe and don’t miss even 1 battle among the titans of Cash Flow. It’s going to be epic! read less
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Episodes

E40: Content Creators Clash: Coach Danny D vs Chay Fight to Create the Best Content
5d ago
E40: Content Creators Clash: Coach Danny D vs Chay Fight to Create the Best Content
Video virtuosos Danny “Coach Danny D” DelVecchio and Chay Nott go head to head in the ultimate marketing showdown!  These two creative entrepreneurs know the power of video content but have very different approaches. Danny helps clients easily create video content for LinkedIn using virtual interviews, while Chay handles full physical production for e-commerce brands.  Tune in to see who emerges victorious in this epic clash of video business models! Here are some power takeaways from today’s conversation: 00:00 01:05 - Introducing for Danny and Chay 05:25 - Dan and Chay’s career backgrounds 13:18 - Round 2: Current business models for video content creation 16:47 - How Danny’s virtual studio works 25:23 - Round 3: Startup cost, challenges, and returns 39:50 - Strategies for finding clients 45:25 - Price points and finding their teams   Episode Highlights: [05:25] About Dan and Chay Chay had no prior experience with cameras but used the pandemic downtime to intensely learn photography and videography skills on YouTube. He gained experience through many free early jobs of varying quality. Danny comes from a sales background and had an early podcast that taught him social media marketing. The podcast failed its second time, but he pivoted to coaching and saw opportunities in video content creation for clients. [13:18] Round 2: Their Current Business Models for Video Content Creation Danny runs a virtual studio model, conducting research-based interviews with clients and handing off editing. He shares pricing ranges from $1,000 for a starter package, up to $8,000 for premium clients. Chay handles full physical production for e-commerce brands, managing all aspects from locations to post-production. He works with brands doing $2.5-3M annually and prices his packages from $5,000-10,000 depending on content needs. Danny finds most clients through organic LinkedIn engagement, while Chay leverages the platform plus word-of-mouth and location-based Instagram hashtags. [25:23] Round 3: Startup Cost, Challenges, Risks, and Returns Danny and Chay both note client budget constraints and finding competent freelance help as the major challenges they face in running their video companies.  Danny shares that clients often see video as a luxury rather than a necessity. Chay has invested more heavily in equipment due to physical production needs. While each has considered hiring employees, risks remain. They've relied on social media and referrals to build contractor networks. Dan and Chay are both optimistic that quality video content could deliver high returns in building brands and sales if marketed effectively. Resources Mentioned: Danny’s website: https://www.coachdannyd.com
E39: How to Protect Your Real Estate Investments with Jeremy Goodrich
Apr 3 2024
E39: How to Protect Your Real Estate Investments with Jeremy Goodrich
Are you looking to maximize returns while protecting your commercial real estate investments?  In this episode of In the Champion’s Corner, commercial real estate and insurance expert Jeremy Goodrich discusses the ins and outs of CRE investing. Jeremy shares his unique journey from elementary school teacher to insurance advisor for large CRE portfolios. He offers invaluable insights into risk management strategies, agency compliance, and navigating the changing insurance landscape.  Learn how to properly assess insurance needs for deals, avoid costly surprises at closing, and maximize returns over the long run. Tune in to hear Jeremy's advice on partnering with the right insurance professional, setting clear standards, and achieving financial freedom through entrepreneurship.  Here are some power takeaways from today’s conversation: 00:00 01:39 - Jeremey’s career background 03:45 - The value of prioritizing risk management 06:57 - Understanding agency compliance requirements 09:57 - Finding the right insurance agent 12:07 - The cost of cheap insurance 16:47 - Insurance rate increases and their impact on multifamily property investments 20:29 - Insurance claims and losses due to hail damage 29:21 - How local factors impact underwriting deals 35:13 - A mindset shift towards financial freedom 43:12 - The keys to running a business successfully with your spouse   Episode Highlights: [03:45] Prioritizing Risk Management and Tenant Safety for Optimal Returns Jeremy emphasizes the importance of leading a discussion around risk management when engaging investors as an insurance advisor. He wants to ensure the safety of tenants, properties, and the investor's finances. By taking a proactive approach to risk management, an investor can achieve a better return on their sleep by knowing their assets are protected, as well as a better overall ROI.  [06:57] Understanding Agency Compliance Requirements Jeremy discusses agency compliance for Fannie Mae/Freddie Mac loans. Inexperienced agents sometimes provide cheap estimates without understanding guidelines. This often causes problems at closing. Jeremy ensures compliance upfront to avoid any insurance issues delaying the closing process, emphasizing that agents need experience with agency debt to submit compliant policies for a seamless closing. [09:57] Finding the Right Insurance Agent for Your CRE Needs When assessing which insurance agent is right, Jeremy recommends they be a specialist in commercial real estate who understands the industry from both an investing and advisory perspective. It's important they can explain complex insurance concepts simply and have relationships with multiple carriers so they can access the best options for clients rather than being limited to one company. Trust also plays a key role, as investors need to feel confident relying on an agent's expertise and recommendations. [12:07] The Cost of Cheap Insurance Jeremy shares a story of a client who chose a cheaper insurance policy over his own more expensive quote, saving $15,000 annually but having major coverage gaps. The property suffered a $500,000 loss from a fire six months later, and the client only received a $150,000 payout versus the near $500,000 they would have gotten with Jeremy's policy due to its more robust coverage. This illustrates how opting for a low price can end up costing significantly more in the long run if a claim occurs. [29:21] How Local Factors Impact Underwriting Deals When underwriting deals, it's important to understand how local insurance market dynamics in a specific area may impact costs. Jeremy notes factors like weather events, replacement costs, and litigation environment can vary significantly between regions. Properly assessing these local considerations is crucial for accurately gauging insurance expenses when underwriting a property in a given market. Resources Mentioned: https://creclarity.com/
E38: Ground-Up Development vs. Renovations: Which Is the Best Investment?
Mar 27 2024
E38: Ground-Up Development vs. Renovations: Which Is the Best Investment?
In this episode, real estate investors Brandon Cobb and Alec Beardhall go head-to-head to compare the alternative investment opportunities of land development versus multifamily real estate. Brandon highlights the flexibility and multiple exit options of land investing whereas Alec notes the tax benefits and passive income potential of multifamily deals.  Hear how Brandon forces value through rezoning vacant parcels while Alec increases rents and occupancy on apartment complexes. Get the inside scoop on these alternative investment strategies and learn which model comes out on top. Here are some power takeaways from today’s conversation: 00:00 02:23 - Brandon and Alec’s backgrounds 10:14 - How apartment syndication works 14:29 - Four strategies for forcing land value growth 19:00 - The benefits of pre-selling developed land 22:32 - Ways to find their best deals 25:30 - Benefits: Land investing vs. multifamily investing 39:00 - The importance of investor experience 41:37 - Multifamily and development operations and investor communications Episode Highlights: [10:16] How Apartment Syndication Works Alec explains how High Country Capital Partners does apartment syndication: they bring their own capital plus investor funds to purchase large apartment complexes. This allows individual investors to own real estate without hassles. They focus on "light value add" deals from 50-480 units, typically from 1980-2010. Investors receive 7-10% annual cash flow plus an equity payout when the property is later sold/refinanced. [14:29] Four Strategies for Forcing Land Value Growth Brandon outlines four ways to force appreciation in vacant land and extract value: Force-depreciate the value of the land through entitlements like rezoning, then sell it to another developer for a profit.Get the land entitled with utilities/infrastructure in place, then contract and pre-sell it to an end buyer who provides a down payment to fund development.Develop the land yourself by building homes or commercial properties to sell.Develop it and hold it as a build-to-rent community, using a multifamily-style business model to generate ongoing rental income.[25:30] The Benefits of Land Investing Flexibility with multiple exit strategies like reselling to another developer or building and selling homes individually. This provides more options than renting out an apartment complex long-term. Forced appreciation locks in land value upfront before purchasing. This protects investors from market forces that could impact a multifamily property, like rising interest rates.Investors can control 100% of the investment with no debt until development begins. This allows projects to be paused if needed rather than relying on bank financing.Land value is secured through entitlements and engineering work done ahead of time by the sponsor. This de-risks the investment compared to taking on a multifamily property requiring renovations. [30:27] The Benefits of Multifamily Investing Alec highlights two main benefits of investing in multifamily real estate: Cashflow: Investors receive a passive, recurring return of 6-8% through quarterly distributions. This provides ongoing income without needing to actively manage the property. Tax benefits: Large tax breaks are available through depreciation deductions and cost segregation studies. These can help offset other sources of income for investors. The government incentivizes multifamily investing through these tax advantages. Resources Mentioned: Alec Beardall and Multifamily Investing: High Country Capital Partners Brandon Cobb: HBG Capital  For a free e-book: Education Recourses - HBG Capital
E37: How to Buy Real Estate without Using Your Money or Loans
Mar 21 2024
E37: How to Buy Real Estate without Using Your Money or Loans
Are your retirement funds stuck in the volatile stock market?  Don't miss this exclusive opportunity to learn how private real estate investor Jay Conner has helped dozens of people grow their wealth through private lending on over 500 successful deals. Transitioning to real estate investing after leaving the manufactured housing industry, Jay now focuses on funding deals through private lending, bringing in capital from private lenders. Discover how you can take advantage of safe, steady returns through real property – without being a landlord. Jay walks us through the process of evaluating properties, making offers, renovating, and paying back lenders with profits.   Here are some power takeaways from today’s conversation: 00:00 01:30 - Jay’s background 07:06 - Lessons learned from early mistakes 11:28 - The power of a like-minded community 17:44 - Your target audience for a private lending event 21:02 - Automating the private lending event process 28:33 - How private lending works for real estate deals  39:31 - Loan-to-value limits for private lending deals 46:57 - Leveraging technology and scaling your business 55:46 - The victor vs. victim mindset   Episode Highlights: [07:06] The Value of Education: Avoiding Costly Lessons in Real Estate Jay stresses the importance of education when getting started in real estate investing. Despite his background, Jay lacked training specific to real estate mechanics and funding strategies. This resulted in expensive mistakes early on that could have been avoided. Arming yourself with knowledge from experienced investors up front can help you sidestep costly lessons. Formalizing your education pays dividends and sets the stage for success in your real estate endeavors. [16:15] Piquing Interest Without "Selling" Jay shares an effective strategy for inviting people to private lending events. Rather than directly asking for money, he frames it as needing their help and support. This subtle difference activates people's desire to be helpful. Combined with buying lunch and portraying the opportunity as high returns for others, it piques interest without pressure. Jay also casts a wide net by inviting people even if they can't invest presently, allowing for future opportunities. [18:30] Targeting the Right Audience for Your Private Lending Event Jay recommends the following key target people to invite to a private lending event: Retired individuals: They likely have retirement funds seeking better returns than traditional volatile options.Centers of influence in the community: People like mayors, Rotary Club members, etc. who are well-connected.Entrepreneurs/business owners: They understand business concepts like this private lending program. The goal is to generate a list of 40 people across these categories who may be open to learning about the opportunity, even if they can't invest immediately. Casting a wide net allows capturing future opportunities as people's situations change over time. [28:33] Private Lending for Real Estate Deals: How It Works The investor provides capital for the purchase and renovation. They receive a promissory note and recorded mortgage/deed of trust as collateral. The investor is also named as the mortgagee on insurance and title policies for added protection. When the property is sold, the investor gets their principal back plus any unpaid accrued interest, and the process repeats with new deals. Resources Mentioned: www.jayconner.com  For a free book: https://www.JayConner.com/Book
E36: Gold vs Black Gold: A Wealth-Building Matchup
Mar 13 2024
E36: Gold vs Black Gold: A Wealth-Building Matchup
Tired of trading your time for money? Learn how to put your cash to work for you! Tonight we've got the ultimate masterclass on generating passive income through hard assets. Tune in for an epic matchup between two heavyweight investment strategies - precious metals and oil & gas production. Experts Ben Nadelstein of Monetary Metals and Rey Trevino of Pecos Country Operating go head to head in this episode of Cash Flow Fight Club to discuss how both gold and oil can be used to generate life-changing wealth and passive income. Listen in for insights on unlocking the cash flow potential of hard assets through leasing and private placement deals. Here are some power takeaways from today’s conversation: 00:00 01:23 - About Ben and Rey 09:46 - Generating monthly returns from precious metals 11:48 - How gold and silver leasing works 17:43 - Why gold holds value 19:55 - Understanding gold bonds 20:44 - Storage fees for physical gold 23:43 - Investing in oil production capabilities over the long term 32:42 - Returns on precious metals vs. oil & gas 43:06 - Analyzing potential risks and benefits 1:02:12 - The future of oil and gas 1:07:33 - Who wins today’s matchup? Episode Highlights: [09:46] Generating Monthly Returns from Precious Metals Ben explains how Monetary Metals is unlocking the cash flow potential of gold and silver through their unique leasing programs. Traditionally, precious metals are seen as static holdings. But through their innovative model, clients are able to rent out their gold and silver inventories to businesses. They’re able to generate monthly returns without having to worry about price fluctuations. By eliminating the risks and costs normally associated with ownership, Monetary Metals has found a way for even small investors to earn interest on their holdings paid back in physical ounces of gold and silver itself. [23:43] Investing in Oil Production Capabilities Over the Long Term Rey explains that a typical producing well is capable of generating oil for 30 years. This underscores how those who invest in Pecos Country Operating through its private placement deals have the potential to see investment returns not just over the short or medium term, but for decades into the future. By tapping into multi-decade production from successfully drilled wells, investors are able to benefit from a wealth-generating asset that continues paying them month after month for generations. [32:42] Returns on Precious Metals vs. Oil & Gas While both precious metals and oil & gas investments have the potential to generate strong returns, there are some key differences in the return profiles: Precious metals leasing through Monetary Metals aims to provide a more consistent, lower-risk return in the 2-5% range annually through interest paid in physical gold/silver. Oil & gas private placements with Pecos Country Operating take on more project-based risk but also offer potentially higher returns, with Ray citing examples of 40-100% returns in the first year and a goal of recouping investments within 12 months. [1:07:33] Why Oil & Gas Took Home the Gold Black gold was named the champion for this matchup based on its potential for higher overall returns within shorter timeframes, backed by valuable tax benefits that can further boost after-tax gains. While both investments have merit, oil & gas private placements offered by Pecos Country Operating edged out precious metals leasing due to cited examples of 40-100% first-year returns and the longevity of income over 30+ years from individual productive wells, mitigating risk through their focus on established, revenue-generating assets. Resources Mentioned: Monetary Metals  Pecos Country Operating
E35: Communism vs. Capitalism - It’s Getting Personal!
Mar 6 2024
E35: Communism vs. Capitalism - It’s Getting Personal!
How do you break free from an ingrained survival mentality of scarcity so you can begin to see prosperity, even in times of want?  This week, we've got a heavyweight bout you won't want to miss as we enter the arena to go toe-to-toe with an ideological firsthand account of what life is like under dictatorial communism versus that of capitalism. Leading us through the rounds will be none other than our champions Mike and Ligia Deaton. Growing up during a time of communism and authoritarian rule in Romania, Ligia knows its power all too well. But after facing the revolution and immigrating to the US, she's also experienced capitalism's impact.  Get ready for an epic clash of economic systems as Mike and Ligia share lessons from both sides to help you overcome any mindsets holding you back from financial freedom! Here are some power takeaways from today’s conversation: 00:00 03:21 - Growing up in Romania and what scarcity looked like 13:00 - Mike’s childhood in the U.S. 15:46 - The dangers of private property in communist Romania 20:56 - How their money stories shaped their mindsets 24:33 - Ligia’s transition out of poverty after the revolution 33:53 - How scarcity hinders creativity 38:02 - Breaking free from limiting beliefs 49:08 - Lifestyle differences in Romania vs. the US 54:53 - Exploring business and investment opportunities   Episode Highlights: [03:23] Growing up in Scarcity Ligia takes us back to her childhood in communist Romania. She recalls living in a society tainted with  fear and scarcity, with rationed food and utilities. Electricity and water were systematically cut off for undetermined periods. Through it all, her mother's resourcefulness helped the family survive. [20:56] How Their Money Stories Shaped Their Personality and Mentality  Although Mike came from a background of entrepreneurship through his father, he was more influenced by his frugal, savings-focused mother in his youth, instilling a security mentality. Whereas Ligia grew up facing constant scarcity in communist Romania that ingrained a deep poverty mindset, believing wealth was unattainable as she focused solely on needs.  Ligia struggled more with residual scarcity thinking until actively breaking free through entrepreneurship. Their differing backgrounds demonstrated how formative early life can be on our money stories if left unaddressed, and it takes conscious reflection to transform our perspectives. [33:53]  How Scarcity Inhibits Creativity Living in constant survival mode profoundly impacted Ligia's creativity and ability to dream. With her focus solely on meeting basic needs from day to day, she did not have the mental space or energy to contemplate bigger goals and ambitions. The survival mentality left her feeling paralyzed and unable to envision a future beyond simply working to sustain herself.  Scarcity can inhibit human potential by training the mind only on the immediate present rather than possibilities. In Ligia’s case, she had to break free of such a limited survival mindset for her to develop creative capacities and pursue prosperity.
E34: The Path to Financial Freedom with Bobby Larsen
Feb 28 2024
E34: The Path to Financial Freedom with Bobby Larsen
Financial freedom leads to lifestyle freedom. Bobby Larsen is using the power of real estate and multifamily apartment investing to build wealth, create cash flow and ultimately create financial freedom for himself, his family and his investors.  Most investors only dream of the kinds of returns Bobby Larsen has achieved in his 15+ year multifamily career. In this latest episode, this industry titan is spilling all his secrets to success.  Learn how Bobby navigated the financial crisis with capital protection at the forefront. Discover his strategies for maximizing returns in any market. And get an insider's look at how he launched Vanamor Investments to generate a jaw-dropping 57% average ROI!  Here are some power takeaways from today’s conversation: 00:00 02:39 - Bobby’s career background 07:20 - The benefits of partnerships 13:00 - The tortoise approach to maximizing returns 16:20 - Why Bobby remains bullish on Oregon's growth potential 24:15 - Embracing adaptability for real estate success 26:38 - The challenges of property management 29:45 - Bobby’s real estate outlook 33:11 - Multifamily's long-term appreciation potential   Episode Highlights: [12:05] Bobby’s Investment Philosophy Bobby cites Warren Buffett's two famous rules of investing that have strongly influenced his approach: Don't lose money. This rule shapes Bobby's focus on capital protection over maximizing returns, taking a conservative approach to underwriting deals in order to withstand downturns without losing investor capital. Don't forget rule number one. This reinforces the importance of avoiding losses at all costs. Bobby applies meticulous risk analysis and debt management strategies to his properties to ensure they can weather disruptions like recessions.[13:00] The Tortoise Approach: Slow and Steady Wins the Race Bobby takes what he calls the "tortoise approach" to maximizing returns - going at a steady, conservative pace focused on long-term stability over quick gains. He underwrites deals to withstand potential downturns through a 7-10 year hold period. While others chase higher returns through riskier strategies, Bobby believes his measured tactics will generate strong, reliable performance over an entire real estate cycle. Just as the tortoise eventually surpasses the hare, Bobby is content to achieve steady growth in his portfolio without jeopardizing capital.  [24:15] The Power of Adaptability There are many facets involved in running a business from an operational perspective like administration, asset management, and more. Bobby emphasizes the need for an adaptable mindset as an entrepreneur - being willing to take on different roles and responsibilities quickly as needs change. He stresses the importance of flexibility to transition between functions smoothly. This trait is especially crucial in the early days of a startup when learning on the job. [29:45] Where the Real Estate Cycle is Headed Bobby shares his outlook that the market is closer to bottoming out than peaking after recent disruption from rate hikes. With construction slowing from inflation and cap rates improving, he feels positioning is strong for a new upcycle over the next 7-10 years. However, Bobby retains a long-term view, aiming to navigate short-term fluctuations and optimize returns through the full real estate cycle. Resources Mentioned: Vanamor Investments
E33: Cracking the Code on Recession-Proof Investments with Patrick Grimes
Feb 21 2024
E33: Cracking the Code on Recession-Proof Investments with Patrick Grimes
Today on the Champion’s Corner,  we're joined by real estate investor and educator Patrick Grimes. Patrick has lived an inspiring life journey going from engineering whiz to real estate millionaire, proving that with grit and determination, you can bounce back from even your hardest falls.  Strap in for an adventure as we go behind-the-scenes of Patrick's engineering days, real estate ups and downs, and his ultimate reinvention through education, travel, and strategic partnerships.  You won't want to miss this inspiring comeback story! Here are some power takeaways from today’s conversation: 00:00 01:38 - His career background  04:05 - Getting back up after losing everything during the real estate crash 07:51 - Patrick’s outdoor adventures 16:14 - Travel & entrepreneurship 20:38 - Real estate investing and risks 23:34 - Why tap into recession-proof markets 28:36 - A look into debt funds 31:07 - Finding complementary partners 37:16 - Giving back with passive investing strategies 41:30 - Tips for partnership success   Episode Highlights: [16:14] The Benefits of Travel in Entrepreneurship Broad perspective: Travel allows entrepreneurs to gain a broader perspective by experiencing new places and cultures outside their normal bubble. This helps open their mindset to different ways of doing things that can be applied back to their business.  Personal growth: Travel also aids in personal growth and realizing what's truly important beyond just profits. Facing the world independently through travel builds confidence, an important skill for those venturing out on their own as entrepreneurs.  [24:09] Targeting “Hard to Move” Industries Patrick looks for areas with diversified employment across industries that are less vulnerable to sudden downturns, such as healthcare, finance and logistics. These "hard to move" sectors are more stable than those dependent on high tech, tourism or manufacturing. By not relying heavily on just one or two boom-based industries like hospitality, properties in these balanced markets hold their value better even when the broader economy contracts. This is because jobs, populations and demand remain more consistent. [29:55] A Look into Debt Funds Rather than focusing on risky construction or flip loans, his real estate asset-backed debt fund targets performing assets with conservative loan-to-value ratios around 50-65% of current property value. This approach aims to capitalize on banks pulling back from lending while minimizing risk. The properties are already cash flowing and any downturn would have to drop values significantly below current levels to threaten losing money. It generates steady income through short to medium term loans on low-risk performing assets in recession-resilient markets. [31:07] Finding Complementary Partners Finding the right complementary partners can dramatically accelerate any business venture. By leveraging different strengths and expertise, partnerships allow companies to scale more quickly and take advantage of new opportunities. The key is identifying partners who share the same vision and values to ensure long-term strategic alignment.  Resources Mentioned: www.investonmainstreet.com  www.passiveinvestingmastery.com  For a free book check out www.passiveinvestingmastery.com/persistence-game-changer/
E32: Convert Your Passions Into Profits with Benjamin Nadelstein
Feb 14 2024
E32: Convert Your Passions Into Profits with Benjamin Nadelstein
Benjamin Nadelstein grew up in a supportive family with a passion in theater arts. As a young adult he was pulled away from his East Coast home in Martha’s Vineyard by the allure of the West Coast. Along the way, his interest in economics sparked and became a full-fledged passion, an obsession even.  Benjamin dove deep into educational content and, encouraged by his mother, found a career with Monetary Metals, a company pioneering methods to create cash flow from gold and silver. While this conversation discusses the various ways Benjamin and Monetary Metals are creatively restructuring the gold and silver supply chain as well as how investors interact with it; it’s also a story about finding and following passions, reinventing ourselves, and finding purpose by saying yes to our intuition.  Also in this episode, Ben Nadelstein explains how Monetary Metals is modifying the traditional metals industry model through innovative products like gold leases and bonds.  As things are looking uncertain in the economic world lately with inflation skyrocketing and markets on a wild ride, more and more investors are looking for safer places to stash their cash. Tune in to discover how their platform is disrupting traditional banking and allowing investors to take control of their wealth in the safest way possible: through the ages-old stability of gold and silver. Here are some power takeaways from today’s conversation: 00:00 02:57 - Ben’s personal and career background 12:00 - The power of a strong support network 28:26 - How he got working at Monetary Metals 34:50 - Understanding monetary metals 36:08 - The superiority of gold and silver 40:00 - Divorce of currency from commodity 47:09 - Gold and silver supply chain management 55:08 - Gold leases and bonds with Monetary Metals   Episode Highlights: [40:00] Currency vs. Commodity In 1971, the relationship between the U.S. dollar and gold underwent a significant change. Previously, American paper currency had been backed by and redeemable for physical gold reserves held by the Treasury. However, President Nixon made the consequential decision to end this convertibility, severing the final ties between the dollar and gold. This marked the emergence of modern fiat currency, where governments could increase the money supply without constraint from limited gold reserves. This pivotal moment fully divorced legal tender from the commodity backing it previously provided, establishing the fiat monetary system that defines currencies today. [40:51] Reviving the Gold Standard Monetary Metals aims to restart the cycle of earning returns through gold that existed under previous gold standards. While fiat currencies like dollars and yen are used globally in trade and finance, this activity does not extend to gold itself. By providing leasing and bonding products, Monetary Metals brings gold back into the realm of generating income, fulfilling its historic function as more than just a static asset. In this way, they seek to revive gold's role as a medium earning interest and powering economic exchange once removed from currencies no longer tied to precious metals. [55:08] Gold Leases and Bonds with Monetary Metals Monetary Metals offers gold leases and gold bonds to provide investors opportunities to generate returns from their precious metals holdings. Gold leases have a one year duration with interest rates from 2-5% paid in additional physical gold or silver. Gold bonds can have variable terms and pay higher rates from 5-19%, but require the initial metals to be sold for dollars. Both products allow gold and silver owners to earn income from their assets outside of traditional currency-based markets through Monetary Metals' platform which matches them with mining companies, jewelers and other businesses in need of non-fiat financing. Resources Mentioned: Monetary Metals The Gold Exchange Podcast Connect with Ben on LinkedIn
E31: From Vacant land investing to profitable ventures with Seth Williams
Feb 7 2024
E31: From Vacant land investing to profitable ventures with Seth Williams
Today, we have a special guest with us - Seth Williams, a seasoned real estate investor who has found his niche in the often-overlooked sector of vacant land investing. Seth's journey from a career in banking to achieving success amidst the economic turmoil of the Great Recession is nothing short of fascinating. As he reveals how he turned vacant lots into profitable ventures, you'll be inspired by his innovative approach and resilience.  From adopting the right mindset to adapting to market changes and understanding the power of delegation, this episode is packed with nuggets of wisdom sure to inspire both novice and experienced investors. Here are some power takeaways from today’s conversation: 00:00 03:09 - Seth’s real estate investing journey 10:19 - Finding success through real estate investing 16:04 - The hunter vs. farmer mindset in real estate investing 18:58 - Adapting to market changes in the real estate world 24:31 - Scaling the land business and delegating tasks 35:11 - Seth’s unique qualities that set himself up for success 39:24 - What drew him to the blogging business model 42:31 - The challenges of choosing markets for land flipping deals 45:34 - Personal development and finding fulfillment 53:04 - The power of saying yes to things   Episode Highlights: [16:04] Mindsets for Real Estate Success: The Hunter vs. the Farmer Hunters get a thrill from chasing down deals and finding new opportunities, but tend to get bored with slow, steady growth. Farmers are more comfortable with incremental gains over long periods of time and prioritize predictability and security. Both mindsets can lead to prosperity, depending on one's temperament and goals. Seth considers himself more of a farmer mindset as he enjoys laying solid groundwork and letting deals grow and unfold over time. This approach fits better with his personality and risk tolerance compared to the ups and downs of chasing deals.  [25:38] The Power of Delegating Tasks While he recognizes the importance of building systems and teams to scale, Seth admits he struggles with giving up control over certain aspects of his work. Seth acknowledges delegation as a weakness of his, and something he aims to improve. Refusing to hand over responsibilities can ultimately limit growth. By keeping everything in-house, it's difficult to take his land deals or content creation to the next level. When you learn to practice delegation, you’re able to free up space and take your enterprise to new heights through increased efficiency and bandwidth. [42:31] The Challenges of Choosing Markets for Land Flipping Deals While many offer guidelines like focusing on growing areas near cities, Seth notes that there is no foolproof method. Every approach has flaws and limitations when it comes to predicting future performance. Rather than obsess over metrics and data, Seth's experience has shown that the best way to learn is by taking action. Even educated guesses won't prepare you for all scenarios - you only truly start to understand a market once deals begin coming back. As Seth points out, you learn 100 times more from the process of trying different areas than any amount of pre-deal analysis. Resources Mentioned: www.retipster.com  Buy Back Your Time by Dan Martell
E30: How to Build Wealth with Multifamily featuring Jen and Stacy Conkey
Jan 31 2024
E30: How to Build Wealth with Multifamily featuring Jen and Stacy Conkey
Curious how Jen and Stacy Conkey took their multifamily investing knowledge from a Facebook group to a full-fledged academy? Tune in to this latest episode of the Cashflow Fight Club podcast to hear their story of entrepreneurship and community building. As the power couple behind the Remote Multifamily Investing Academy, Jen and Stacy share their journey from meeting on a dating app to building a thriving business and community together. They share invaluable insights on scaling their business, working with a spouse, and fostering success in their students through personal development. Here are some power takeaways from today’s conversation: 00:00 03:09 - How Jen and Stacy met and discovered their shared passion for real estate 07:35 - Tips for getting started with multifamily investing 11:03 - How they balance their personal and professional life as a couple 17:23 - Working with a spouse in business 25:08 - Applying NLP and mindset coaching to real estate investing 31:32 - Their multifamily investing training 34:21 - Common traits of rockstar coaches 41:51 - From community building to building the academy Episode Highlights: [11:51] How to Balance Personal and Professional Life as a Couple Balancing personal and professional life as an entrepreneurial couple takes communication, flexibility, and making time for what's most important - your relationship. Jen and Stacy have found success by understanding each other's strengths, not taking disagreements personally, and prioritizing fun together even amidst a busy work life. Balancing demands comes down to openly discussing needs, showing grace for differences, and finding moments to simply enjoy your partner's company each day. Delegation played a key role in Jen and Stacy's ability to balance their personal and professional lives as entrepreneurial partners. By bringing on additional team members like their COO Casey, they could delegate administrative tasks and scale their businesses while creating more time for strategic initiatives. This allowed them to maintain balance while continuously innovating and growing their impact as a couple. [25:08] Applying NLP and Mindset Coaching to Real Estate Investing Jen has a background in Neuro-Linguistic Programming (NLP) and became a certified NLP Master Practitioner. She discovered the power of mindset coaching after her son was diagnosed with ADHD, wanting to better understand how to influence behaviors. Jen realized all the benefits NLP and mindset training could provide for real estate investing. Not only could it help with influencing others like buyers and sellers, but addressing one's own limiting beliefs is critical to success. This led Jen to incorporate mindset coaching into the Remote Multifamily Investing Academy. She teaches courses to help students overcome mental blocks, stay motivated, and achieve their investing goals through small shifts in perspective. Applying NLP has been transformative for both Jen and Stacy's business and helped countless others overcome obstacles through powerful mindset work. [41:51] From Facebook Community to Remote Multifamily Investing Academy Jen discusses how their Facebook community grew organically as they provided value to others interested in multifamily investing. This community became the foundation for their full-fledged Remote Multifamily Investing Academy. They realized there were many cool people in their initial mastermind group, and thought about how they could find more like-minded individuals. This led them to transform it into a more structured academy model where they could enroll students and provide a comprehensive training program to help more people achieve success in real estate investing. Resources Mentioned: Remote Multifamily Investing Academy Warriors of Wealth Conference 2024 Book: Multifamily Freedom Hacking
E29: How to Build a Network That Fuels Success: Yonah Weiss’ on Real Estate, Community & Service
Jan 24 2024
E29: How to Build a Network That Fuels Success: Yonah Weiss’ on Real Estate, Community & Service
Tapping into your network can open so many doors! In this episode of the Champion’s Corner, real estate expert Yonah Weiss discusses how focusing outward on serving others through charitable initiatives and intentional networking on LinkedIn transformed his career. Yonah shares invaluable tips for leveraging your connections and finding your unique ability to help people. Learn how shifting your mindset to one of service can profoundly impact your success! Here are some power takeaways from today’s conversation: 00:00 02:54 - Life before real estate and nonprofit work 06:38 - Personal growth, faith, and community service 11:00 - Donating to charities 14:30 - Career transition from teaching to the real estate world 19:46 - The power of networking in real estate 21:52 - Leveraging LinkedIn for networking and branding success 43:49 - Finding your unique ability to help people Episode Highlights: [07:51] Finding Your Place Through Service to Others We all play a role in the broader system and community around us. We are interconnected with others, and our actions have impacts beyond just ourselves. Focusing outward on how we can contribute to and support our community is a meaningful way to approach life and business. While having big ambitions to change the world is admirable, true change begins on a much smaller scale - with personal growth and improvement. One must first work on bettering themselves before they can truly help others on a larger scale. In order to change the world, we must start by changing what's within our control - ourselves. Only by walking our talk and exemplifying the values we want to promote can we hope to inspire positive change in the world. [19:46] The Power of Networking in Real Estate Unlike some other industries, real estate is highly relational and depends a great deal on personal connections. The more people you meet through intentional networking, the more "doors" that open in terms of opportunities. Every new contact has the potential to introduce you to even more people, creating an exponential effect. Networking allows your sphere of influence to continually expand, exposing you to ever greater chances for new business partnerships, deals, resources and more. It underscores the value of prioritizing relationship-building in real estate through activities like industry events, referrals, social media and other avenues that facilitate meeting new people and strengthening your professional network. [21:52] Leveraging LinkedIn for Networking and Branding Success Yonah leveraged LinkedIn through intentional networking and content creation, transforming his career. Noticing others' engaging posts, he showcased his cost segregation expertise. Unlike social media, LinkedIn facilitated professional networking through value-driven interactions. This positioning led to podcast interviews, exponentially growing his profile. Weiss views LinkedIn as a constant networking opportunity, underscoring its power when actively engaging others professionally. Resources Mentioned: www.yonahweiss.com  Madison SPECS The Go-Giver by Bob Burg
E28: $1M+ Profits from Productivity Focus: How to Use Automation to Fuel Cash Flow
Jan 17 2024
E28: $1M+ Profits from Productivity Focus: How to Use Automation to Fuel Cash Flow
Are you looking for ways to create cash flow and pursue the life of your dreams? This week, we bring on two productivity experts – Paul Minors and Daniel Whitworth – for an insightful discussion on growing businesses through efficiency and automation. The episode provides practical tips on automation, recurring revenue streams, and scaling without losing focus on your strengths. Paul has grown his part-time side hustle into a seven-figure consulting business focused on process efficiency. Daniel is a self-taught programmer who now helps businesses automate workflows. They share insights on growing businesses from freelancing to standardization. Here are some power takeaways from today’s conversation: 00:00 03:41 - Paul’s career background 08:48 - Daniel’s career background 17:30 - Daniel’s client onboarding process 24:47 - How Daniel charges his clients 26:17 - Paul’s process for scaling his business 39:55 - Leveraging your strengths for long-term success 43:23 - Finding opportunities for recurring revenue 50:05 - The power of doing business for yourself 52:12 - The downsides of their businesses 55:22 - Daniel and Paul’s top tips for efficiency and productivity   Episode Highlights: [06:26) Paul’s Journey: Getting Started in Productivity Consulting Paul shares how he got started in productivity consulting after helping his employer implement Asana. His side business grew through his YouTube videos until his consulting income replaced his full-time salary in 2016, allowing him to transition to consulting as a full-time role. His own employer serving as his first client,  helped him realize there was a business opportunity in productivity consulting. [17:30] Daniel's Journey: His Client Onboarding Process  Daniel also scopes projects by talking through a client's unique situation to understand pain points and offer potential solutions. He provides the example of a math tutor who struggled with scheduling and invoicing. Daniel automated this process using Calendly for booking and Zapier to create invoices in QuickBooks upon session completion. By discussing real examples, Daniel is able to help clients envision what is possible through his programming and automation skills. This speeds up the sales process and allows him to take on more clients. [39:55] Leveraging Your Strengths for Long-Term Success Both Paul and Daniel emphasize the importance of focusing on your strengths. Paul has reinvested profits from his business into Bitcoin as a long-term wealth building strategy that plays to his interests in research and passive income. On the other hand, Daniel enjoys the programming and customization work he does for clients, so he continues taking on these types of projects. While the work is time-intensive, it allows Daniel to use his programming skills that he has spent decades developing. Rather than growing his business in ways that pull him away from coding, Daniel finds recurring revenue streams like ongoing client support that don't require large teams. Both entrepreneurs have found ways to pursue cashflow aligned with their natural talents and passions. This allows their businesses to thrive without burning out doing tasks they are less skilled in or engaged by. Focusing operations on strengths was an important lesson they shared from their experience scaling up. Resources Mentioned: www.paulminors.com    The Workflow Wizard (danielwhitworth.com) No More Dreaded Mondays by Dan Miller BNI Alignable
E27: How to Build Lifelong Cash Flow with Triple Net Leasing
Jan 10 2024
E27: How to Build Lifelong Cash Flow with Triple Net Leasing
In this episode, commercial real estate broker Dan Lewkowicz talks about triple net leasing - an often overlooked asset class that can generate significant passive income.  Dan is the Senior Director at Encore Real Estate Investment Services, a boutique net lease investment sales firm. He shares his expertise on evaluating deals, understanding lease structures, and the tax benefits of owning net leased properties.  Whether you're a seasoned investor or just starting out, learn how this attractive sector could help grow your portfolio! Here are some power takeaways from today’s conversation: 00:00 01:51 - Dan’s real estate background 07:23 - Triple net lease explained 09:44 - Double net lease and other types of leases 10:28 - Evaluating net lease deals 19:41 - Their buyer profile 21:59 - Real estate market trends and stability in the net lease space 28:31 - Tax benefits of ownership 31:46 - Risk factors to consider 35:17 - Net lease investing and property management Options for syndication and passive income Episode Highlights: [07:23] What is Triple Net Leasing? Dan explains how triple net leases can generate stable cash flow with minimal obligations for owners. Tenants are responsible for taxes, insurance, and maintenance, allowing landlords to collect rent with no expenses. He compares a sample net leased property like a Wendy's, bringing in $125k annually in rent, to a similar small multifamily. While the multifamily would have $65k in yearly expenses, the absolute triple net leased Wendy's would have zero expenses, making it highly passive for owners. [10:28] How to Evaluate Net Lease Deals When analyzing a potential net lease property, Dan looks closely at lease terms like guarantees, sales reporting, and replacement costs. He assigns a cap rate based on factors like credit, term, and rent levels to determine fair value. Key considerations include the size and financial strength of the tenant guarantor, sales performance at the location, and the ease of replacing rental income if the tenant leaves. With the right due diligence, investors can make well-informed purchase decisions on net leased assets. [31:46] Risk Factors and Rewards Bankruptcy is a risk factor for investors to consider, though it remains relatively rare for strong tenants. Dan cites recent examples like Rite Aid undergoing bankruptcy proceedings and Walgreens' credit downgrade. Deferred maintenance on properties can also impact value if unaddressed over time. However, Dan notes that net lease cap rates have proven stable even during difficult economic periods, making the asset class attractive from a risk-adjusted return standpoint. With the proper due diligence like periodic property inspections, owners can mitigate issues. Additionally, the long lease terms on quality properties provide stable cash flow for generations. For the right investors, net leasing offers both rewards and security through diligent ownership. Resources Mentioned: www.encoreinvestmentrealestate.com
E26: FIRE Yourself: Your 3-Year Roadmap to Financial Freedom with Bronson Hill
Jan 3 2024
E26: FIRE Yourself: Your 3-Year Roadmap to Financial Freedom with Bronson Hill
In this episode of the “Cash Flow Fight Club” podcast, we sit down In the Champion’s Corner with real estate investor, author, and podcast host of his own show - Bronson Hill. Bronson shares his fascinating journey from working in medical device sales to building a successful business in real estate and private equity. Listen in as Bronson offers valuable lessons on cultivating the right mindset, continuously learning from others, and replacing your working income with passive streams. Whether you're interested in personal growth, entrepreneurship or passive investing, this inspiring conversation provides actionable takeaways you can apply. Here are some power takeaways from today’s conversation: 00:00 02:22 - Bronson’s medical sales background 09:20 - The unsettling reality of modern-day slavery 12:43 - Time freedom, not financial freedom 14:38 - Tools for finding your calling and purpose 17:23 - Identifying skill quadrants for personal and professional growth 24:19 - The power of networking and education in achieving success 32:31 - Other personal growth and self-improvement strategies   Episode Highlights: [12:43] Chasing Time Freedom: The Power of Passive Investments and Autonomy Ultimately, what we desire is the freedom of time. It's not about idling away or catching up on sleep, which might be appealing for a short while. Yet, the core objective is to have the liberty to make a difference in ways that matter to us. Having control over how your time is spent is truly empowering. Moreover, passive investments and consistent cash flow from investments, which don't require further effort, are also an excellent way to achieve this autonomy over time. It's indeed remarkable to have such financial independence. [14:38] Discovering Your Life's Purpose: A Guide to Self-Assessment and Reflection Consider utilizing personality assessments such as StrengthsFinder to gain insight into your innate talents and passions. You might also want to try a "love it" test for a week to pinpoint the activities that truly invigorate you. By juxtaposing the outcomes of these evaluations with what the world necessitates, you could gain a clearer understanding of your purpose. Bear in mind that your calling may evolve over time. It often requires introspection, prayer, and continuous reassessment of your gifts and how you can utilize them to effectively serve others. [17:23] Identifying Your Skill Quadrants for Personal and Professional Growth There are four quadrants of skills to consider. The first quadrant is incompetence, which includes tasks you're not good at and should delegate to others. The second quadrant is competence, encompassing tasks you can do, but they might be a struggle for you. The third quadrant is excellence, where you have legendary skills, like in sales, as an example. The final quadrant is your unique ability. This is where your excellence meets never-ending learning, passion, and an energizing effect. It's a realm where you shine and only you can truly identify this unique ability. Focusing on this quadrant could lead to personal and professional growth.[24:19] The Power of Networking and Education in Achieving Success If you're aiming to advance financially or in life, two main factors will guide your journey. The first is networking - the power of connecting with new people. The second is through education, continually expanding your knowledge base. In five years, who you become will be largely influenced by the books you've read and the people you've met. This points back to the importance of networking and education. Resources Mentioned: www.bronsonequity.com  Bronson’s book: Fire Yourself WinStreak App Mastery by Robert Greene 10x Is Easier Than 2x by Dan Sullivan The E-Myth by Michael Gerber StrengthsFinder test Huberman Lab Podcast
E25: Building a $40M Coaching Enterprise: Babs Smith on Finding Your Unique Ability
Dec 27 2023
E25: Building a $40M Coaching Enterprise: Babs Smith on Finding Your Unique Ability
On this episode of In the Champions Corner, we sit down with Babs Smith, co-founder of Strategic Coach, a $40 million coaching enterprise. Babs shares her colorful entrepreneurial journey from crafting in the mountains of Tennessee to building a mega-business alongside Dan Sullivan. Listen in as Babs discusses key milestones that shaped her pioneering spirit and how together with Dan, they developed coaching tools and systems that have transformed thousands of entrepreneurs worldwide. Here are some power takeaways from today’s conversation: 00:00 02:17 - Babs’ introduction 04:07 - Babs' early days growing up in Detroit and lessons in cashflow from her parents 11:33 - Venturing off from university to craft and live communally in the Appalachian mountains 21:35 - Meeting Dan Sullivan and taking the first Strategic Coach program 26:57 - Using the strategy circle to overcome financial struggles 27:44 - The birth of Strategic Coach out of Dan's bankruptcy and a group coaching program 36:41 - The importance of having competent people on your team 46:12 - What Strategic Coach does today 49:25 - Securing financial stability through cash value life insurance    Episode Highlights: [27:44] The Birth of Strategic Coach After facing bankruptcy twice, Dan Sullivan was searching for a way to rebuild his business and make a sustainable income. He started taking friends and past clients through his innovative Strategy Circle thinking tool, charging for his time upfront. Meanwhile, Babs encouraged Dan to find others who could take work off his plate so he could focus fully on his unique ability of coaching and strategy development. They brought on an assistant who was better suited for sales. Around the same time, they received a large tax bill and realized they needed to grow the business quickly. Babs and Dan developed the idea for a group coaching program where Dan could work with multiple entrepreneurs at once. Their first workshop had six participants. This marked the beginning of Strategic Coach, which grew out of Dan's bankruptcy and their realization that a scaled group model would allow Dan to focus on his strengths and accelerate their revenue. [46:12] Strategic Coach Today Strategic Coach has grown tremendously in the decades since those early days. Babs shares that it is now a $40 million business with 17-18 coaches on staff in addition to Dan Sullivan. At the core of their model are quarterly multi-day workshops that entrepreneurs commit to for a three-year period. Within this structured program, participants gain new insights and understandings from Dan's unique thinking tools and processes each quarter. Their learnings compound over the three years as they incorporate new strategies and tools while being supported by their peer group. Babs notes many clients have now been with Strategic Coach for over 10 years, benefiting from this long-term coaching approach. The program has transformed thousands of entrepreneurs globally by providing the ongoing development, accountability and community needed to accelerate business growth over an extended period. [49:25] Securing Financial Stability: The Power of Cash Value Life Insurance Babs often quotes Keith Cunningham's advice to "keep your powder dry," and for a good reason. Babs has weathered numerous financial downturns, and the best defense against these unpredictable storms was investing in cash value life insurance. Using the insurance's cash value as collateral, Babs secured a line of credit with a bank. Despite the ups and downs of market rates, she enjoys a favorable rate, thanks to the prime minus something arrangement. This strategy has proven to be a lifesaver for Babs on three separate occasions. Growing up, Babs’ mother always warned, "Don't rely on banks for money as they only lend it when you don't need it." This wisdom has echoed throughout Babs' experiences, reinforcing the value of cash value life insurance. Resources Mentioned: Strategic Coach Who Not How by Dan Sullivan
E24: Making Millions Online: From Products to Podcasts with Becky Beach and Harry Duran
Dec 20 2023
E24: Making Millions Online: From Products to Podcasts with Becky Beach and Harry Duran
Interested in launching your own online venture? Get practical tips from digital marketing pros, Becky Beach and Harry Duran. Their journey from side passions to full-time businesses is nothing short of inspiring. Both started with a passion project that grew into multiple online businesses through niche content, digital products, and community building. Tune in to learn how they leveraged their unique skills and interests into financial freedom.   Here are some power takeaways from today’s conversation: 02:18 - Quitting corporate jobs for online businesses and blogging 05:41 - Pivoting from corporate to entrepreneurship and podcasting in the vertical farming industry 10:14 - Building a podcast and platform for vertical farming industry 13:03 - Vertical farming and its potential for sustainability and supply chain resilience 25:05 - Outsourcing tasks to Philippines for digital product creators 37:40 - The power of delegation in business growth 49:40 - Aligning your business with your unique strengths and passions  Highlights: [12:18] Becky's Journey from Stressful Job to Blogging Freedom Becky goes into more detail on how she got started with her blog Mom Beach while working a stressful job in healthcare that wasn't providing paid maternity leave. She was feeling overworked and stressed, which motivated her to begin blogging as a side project. While it started as just a hobby with occasional posts, she got more serious about it after her son turned 3 years old and she had another difficult boss situation. That's when she began taking online courses to improve her blogging skills and saw her traffic slowly start to increase. Within a couple years, she had built her earnings up to $10,000 per month through affiliate marketing, ads, and the growing traffic to her site. This income allowed her to finally leave her full-time job and focus on Mom Beach as her primary business. [25:06] Harry Leverages His Podcasting Skills into the Vertical Farming Industry Harry initiated the Vertical Farming Podcast by capitalizing on his interest in the booming sector of indoor agriculture and his experience in interviewing and production. He interviewed industry leaders, gaining visibility and connections. Gradually, he grew it into Vertical Farming Media, offering services like events, job listings, and an industry directory. Partnerships enabled him to attend global conferences and expand his network, creating more opportunities for serving the vertical farming community. [37:41] The Power of Delegation in Business Growth Harry underlines the significance of delegating tasks as businesses expand. He recounts his early days of building his podcast network, where he juggled multiple roles from recording to marketing. However, with an increasing workload, he realized the need for delegation to make room for higher-level tasks. Both Harry and Becky emphasize their use of virtual assistant teams, often from the Philippines, for design, administrative work, and content production. This strategy lets them concentrate on revenue-generating activities while scaling operations. Their experiences demonstrate that avoiding burnout and propelling business growth hinge upon delegating non-essential tasks. [49:40] The Power of Taking Action and Investing in Yourself  Becky emphasizes the importance of just getting started rather than procrastinating. Harry echoes this sentiment of taking imperfect action daily to improve even just 1%. He also stresses the value of investing in yourself early through coaching or mentorship to accelerate your learning curve. For Harry, this was a key factor in his ability to pivot out of corporate marketing and build successful businesses through podcasting and other ventures. Ultimately, focusing on your unique strengths and interests is vital to finding long term success and fulfillment in entrepreneurship. Resources: Mom Beach   Becky’s freebie for the listeners: https://www.beckybeach.co/mombeach-freebie/   Vertical Farming Podcast Abundance by Peter Diamandis
E23: How to Leverage Your Unique Skills to Start Your Business with Nicole Whitworth
Dec 13 2023
E23: How to Leverage Your Unique Skills to Start Your Business with Nicole Whitworth
Joining us today on the “Champion’s Corner” is Registered Nurse, entrepreneur and business coach Nicole Whitworth to discuss her inspiring journey from an early career in nursing to running a successful online business while homeschooling six kids!  Nicole launched Your Nursing Tutor, an online educational business helping thousands of nursing students succeed. After 10+ years of growing her business part-time around her family responsibilities, Nicole took the leap to go all-in as a full-time entrepreneur. She now runs Your Nursing Tutor with her husband and offers business coaching to other online entrepreneurs.  Nicole shares her story of flexibility and embracing imperfection as she's navigated many changes of direction in her career and personal life. We dive into topics like finding your tribe, the importance of community, and living fully in your "era."  Here are some power takeaways from today’s conversation: 00:00 - Intro 06:46 - Nicole's background and journey 12:57 - Dealing with imposter syndrome 16:24 - Flexibility allows you to change directions and seize new opportunities 22:56 - The challenges of homeschooling and parenting teenagers 27:42 - The power of coaching and mentorship 44:42 - Small consistent actions over time lead to big results 49:31 - Embracing imperfection 53:30 - Finding your own era   Episode Highlights: [16:45] Embracing Flexibility to Change Directions Flexibility is a vital trait for both entrepreneurs and individuals navigating unpredictable paths, such as parenting. Nicole's inspiring journey serves as a powerful example of how adaptability can lead to successful pivots in both career and personal life. When confronted with change, embracing flexibility becomes your guiding force, allowing you to provide support for yourself and your loved ones. Whether it involves embarking on a new path or seizing unexpected opportunities, flexibility empowers you to not just survive, but thrive. By remaining open to growth and demonstrating resilience in the face of challenges, you are actively keeping doors open for exciting new possibilities. Embracing flexibility is an essential aspect of both entrepreneurial success and effective parenting, enabling you to gracefully change course as your circumstances and goals evolve over time. [49:31] Embracing Imperfection Nicole reflects on her journey of overcoming perfectionism and embracing imperfection. She shares how she used to have an all-or-nothing mindset, which led to feelings of guilt when she couldn't complete everything on her to-do lists. However, she learned the value of taking small, consistent actions, even if they were imperfect. Instead of waiting for the "perfect" time, she now focuses on establishing routines and habits that allow her business and life to move forward. [53:30] Finding Your Own Era Nicole talks about fully embracing living in her own "era" where she cares less about others' opinions and lives life on her own terms. In this phase of life, she prioritizes doing the things that make her feel truly alive and motivating her family to do the same, rather than worrying about what other people think. Nicole encourages finding your passions and adventures as you define your own "era."  Resources Mentioned: www.yournursingtutor.com  Flipped Lifestyle Finding Mastery with Dr. Michael Gervais The First Rule of Mastery: Stop Worrying About What Other People Think of You Feeding The Mouth That Bites You
E22: Creating a Million Dollar Business: How PrettyBoy Skincare Plans to Revolutionize the Men’s Grooming Industry
Dec 6 2023
E22: Creating a Million Dollar Business: How PrettyBoy Skincare Plans to Revolutionize the Men’s Grooming Industry
How can you transform a dream into more than just a reality, but a thriving million-dollar venture? These two college best friends went from dreaming of entrepreneurship to creating a successful skincare company. Discover how Ben and Kevin, Founders of PrettyBoy Skincare, turned their college dream into a blossoming million-dollar brand.  From product formulation to brand building, their story is packed with valuable lessons. Hear how they validated their concept through customer research, worked with experts to formulate their product, and built their brand experience. Ben and Kevin also share the challenges of scaling their business while staying true to their values. Here are some power takeaways from today’s conversation: 00:00 03:04 - Ben and Kevin’s background from college friends to business partners 11:47 - Creating a skincare brand for men 16:37 - The power of hiring experts 19:11 - Putting customers first and seeking support from the community 27:35 - Their approach to branding, marketing, and messaging 37:01 - Their vision of the future 45:03 - Tips for getting started with a business and finding the right partner   Episode Highlights: [11:47] Creating PrettyBoy Skincare Ben and Kevin built PrettyBoy from an idea sparked by their own struggles with skin issues and an unmet need in the men's skincare market. They validated their concept through customer surveys to understand pain points and product preferences. Armed with this research, they worked with dermatologists and chemists to formulate a simple, high-quality product containing clinically-backed ingredients. To launch their brand, they focused on creating an experience that resonated with their target demographic through messaging, imagery and a focus on quality. Starting as an online-only business, PrettyBoy is now a growing enterprise disrupting the men's grooming industry through authenticity and effective products. [16:37] The Power of Experts Ben and Kevin emphasized the importance of leveraging experts throughout their journey of building PrettyBoy Skincare. With a clear vision but limited technical knowledge, they were able to fill critical gaps by working with dermatologists, chemists and manufacturers who helped turn their concept into a reality. By providing directives based on customer research and prioritizing clinical efficacy, Ben and Kevin allowed experts to help implement their vision. This approach demonstrated that entrepreneurs don't need to know everything themselves - with a well-defined goal and willingness to learn, hiring the right experts can help overcome challenges and accelerate progress towards success. [19:11] Building a Successful Brand: Putting Customers First and Seeking Support from the Entrepreneurial Community When starting a brand, whether it's a restaurant or any other business, it's essential to prioritize the vision of your customers. Instead of beginning with the brand itself, focus on sourcing everything that your customers desire in a skincare product. By understanding their top concerns, preferred texture, and desired usage, you can build a brand and formulate products accordingly. Seek feedback from dermatologists and engage with the entrepreneurial community, as they are often willing to provide valuable support and guidance. Remember, being customer-obsessed and open to seeking help are crucial factors in creating a product that people want to buy and ensuring a successful journey in the business world. Resources Mentioned: PrettyBoy Skincare The Gap and The Gain