Tired of the daily grind? Ever dream of being your own boss?  In this episode, Mike and Ligia share their story of transitioning from corporate jobs to becoming full-time real estate investors and coaches. After facing unexpected layoffs, they took the opportunity to reevaluate their lives and pursue their dream of financial independence through land flipping.  They discuss the mindset shifts, strategies, and lessons learned along their entrepreneurial journey. Whether you start a side hustle or go all-in, we'll give you the mindset shifts and strategies you need to break free from the 9-5 trap and live life on your terms. Here are some power takeaways from today’s conversation: 00:00 01:43 - Traumatic job loss sparks career change  03:18 - Rethinking traditional retirement 04:23 - Research leads to discovering land investing 09:07 - Overcoming self-doubt and limiting beliefs 12:55-  Importance of coaching and taking consistent action 16:18 - The formula for change and success 19:14 - Choosing between side hustle and full commitment  23:37 - A coaching program for land investing Episode Highlights: [04:23] Discovering Land Investing Mike details how he first discovered land investing through podcast research years prior. When he and Ligia unexpectedly lost their jobs, it gave them the flexibility to fully commit to their new venture. They decided to try land investing for 12 months, treating it as a full-time job. With help from a coaching program, they were able to achieve early success through dedicated action-taking. [09:07] Pushing Through Mental Struggles  Ligia shares the mental struggles of transitioning from a steady paycheck to being fully self-employed. Criticism from friends and family added to the self-doubt. She learned to push through fears of failure by focusing on small wins and drawing encouragement from their like-minded community.   [12:55] Coaching as an Investment, Not Expense  Coaching should be viewed as an investment rather than an expense. While coaching programs may have an upfront cost, the return on investment can be significant. By investing in a coaching program early on, Mike and Ligia were able to avoid costly mistakes and the success they achieved outweighed the initial coaching costs. [13:50] The Importance of Taking Action Mike and Ligia emphasize that taking consistent action is key to any entrepreneurial endeavor. While research and planning have value, ultimately progress happens through real-world testing and iteration. They advise starting a side business first when possible but also not being afraid to fully commit, as they did, when the timing feels right. Resources Mentioned: Rich Dad Poor Dad

Are you an entrepreneur or business owner struggling with mindset barriers or operational challenges? In this episode, mindset experts Adam Hurd and Tom Marino share insights on mindset mastery, overcoming common entrepreneur challenges, and their unique collaborative coaching approach.  Learn their strategies for overcoming limiting beliefs and achieving life harmony through Atomic Business Coaching. Hear real client success stories and how small daily tasks built one man's confidence, growing his business revenues exponentially.  Here are some power takeaways from today’s conversation: 00:00 04:24 - More about Adam and Tom 09:43 - Finding harmony through purpose 15:52 - A look into their business process flow 18:15 - The value of dual perspectives in coaching 19:10 - Strategy for bringing clarity to clients 19:50 - The philosophy behind Atomic Business Coaching's approach 24:40 - The reality of uneven contribution in partnerships 45:26 - Embracing the reality of failure for success 48:15 - Embracing the reality that entrepreneurship is hard work    Episode Highlights: [12:16] Finding Harmony Through Purpose Tom and Adam don't believe in the concept of work/-life balance, as it sets an unrealistic standard of perfectionism. They aim to help people experience harmony by aligning their actions with their deepest motivations. [13:41] Stepping Into Discomfort to Achieve Growth Tom and Adam help clients expand beyond limitations by thoughtfully challenging comfort zones. They explain how their coaching brings people outside safe routines. But they don't leave clients to face new fears alone. They walk alongside, guiding clients through uncertainty. This supportive process builds momentum so businesses and lives can progress powerfully. [15:52] Iterative Process Design for Optimal Client Outcomes Tom and Adam have carefully designed their coaching process through iterative testing and refinement. They ensure systems can be understood by all skill levels, even children. Their 90-day trials and regular evaluations have optimized a distinct yet complementary workflow - Adam focuses on strategy while Tom addresses mindsets. This delivers value to clients. [19:10] Gaining Clarity Through the "Believe-Behave-Become" Methodology Tom and Adam utilize a methodology called "Believe-Behave-Become" with their clients. First, they work to help clients gain a true belief that they can accomplish their goals. Once that belief is established, they assist with behaving following this newfound confidence. If clients believe and behave a certain way, they will then become who they envision. This staged approach aims to bring clarity around priorities and actions needed to achieve business and personal success. [24:40] The Reality of Uneven Contribution in Partnerships Tom explains that no relationship, including business partnerships, can truly be 50/50 split. People give differently depending on their capabilities. Some days one partner may only have 20% to contribute while the other covers 80%. The key is flexibility to go back and forth in levels of participation. This understanding is important for partnerships to function effectively over time, as circumstances change for each individual. [45:26] Embracing the Reality of Failure for Success Adam notes that even the most accomplished entrepreneurs fail 70% of the time. Being willing to take more risks and fail more than competitors separates the highly successful. This mindset is key for entrepreneurs, as experimenting, learning from mistakes, and continually trying new approaches lead to long-term growth. Resources Mentioned: Atomic Business Coaching

Real estate offers so much variety and many ways to earn outstanding returns, build wealth and generate passive income. Discover how adversity can spark success in real estate. In this episode, Brandon Cobb discusses his unexpected firing that led him to entrepreneurship. Now the owner of real estate firm HBG Capital, Brandon shares strategies for land acquisition, development approvals, and syndicating deals with investors. Plus, Brandon shares his outlook on real estate risks in 2024 and his goals to end veteran homelessness through development. Here are some power takeaways from today’s conversation: 00:00 02:43 - Brandon’s background in sales and sports medicine 06:40 - Getting fired and deciding to pursue entrepreneurship 11:18 - Strategies for land acquisition, development approvals, and syndicating deals 20:10 - Addressing the supply imbalance for first-time homebuyers 21:09 - Leveraging technology and relationships to find development sites 33:45 - Syndicating land deals with investors to fund development projects 42:11 - Daily mindset practices and advice for handling adversity 44:15 - Outlook on 2024 real estate risks and goals to end veteran homelessness   Episode Highlights: [04:54] An Unexpected Career Pivot and Path to Real Estate Brandon began his career in medical device sales, enjoying his work in sports medicine. However, he was unexpectedly fired from his job one sunny Friday afternoon. Shocked and confused, Brandon decided to pursue entrepreneurship. He started a life coaching business and met his now business partner at a real estate meetup. Together, they invested in real estate deals in Colorado Springs. [20:10] Addressing the Supply Imbalance for First-Time Homebuyers Brandon discusses the growing opportunity in affordable housing development to address the supply imbalance for first-time homebuyers. He notes that 33% of home buyers are millennials seeking their first home, yet less than 10% of homes built cater to their price point. This creates a major supply and demand issue. Brandon also touches on how this presents opportunities for build-to-rent strategies due to the affordability of housing needed by this growing demographic. [27:03] Leveraging Technology and Relationships to Find Development Sites Brandon discusses his strategies for identifying land parcels for development. This includes using tools like LandGlide to map suitable properties and building relationships with local brokers and municipalities. He explains how to present initial concept plans to get verbal approvals before engaging engineers.  [33:45] Syndicating Land Deals with Investors to Fund Development Projects Brandon syndicates land development deals with investors to fund projects. He raises capital from private investors and structures deals to purchase land through syndications. This allows Brandon to acquire land upfront while mitigating risk through equity funding rather than taking on debt. Resources Mentioned: HBG Capital LandGlide

This episode of Cashflow Fight Club features two great models for building a successful real estate empire: private lending with Jay Conner and syndication with Jen and Stacy Konkey.  Jay shares how he financed over 500 single family rehab deals by educating private lenders on the benefits of backing his projects, providing passive investors high returns. Meanwhile, Jen and Stacy talk about how they have acquired and operated over 2,500 multifamily units by strategically raising capital from accredited investors through various structures like joint ventures and 506C funds.  Both models showcase effective ways to leverage other people's money and acquire assets at scale, proving the adage that OPM is the true superpower of real estate. Here are some power takeaways from today’s conversation: 00:00 01:14 - Two great models to build your real estate empire 02:25 - About Jay Conner and Jen & Stacy Conkey 14:49 - Jay’s approach of raising private money through teaching investors 20:12 - Jen and Stacy’s approach to raising capital and scaling 28:12 - Eyeing new opportunities based on strategy and the economy 36:57 - Setting return expectations  43:08 - How Jay controls the terms for private lenders   Episode Highlights: [01:14] Two Great Models to Build Your Real Estate Empire Using passive investors' capital - Investors' money can be pooled together via a syndication to make down payments on assets by taking a limited partnership stake. The remainder comes from bank loans. This model leverages the power of syndication to purchase and operate assets like apartment buildings and mobile home parks. 100% funding using private money - One or a few individuals provide the full capital to purchase assets outright, requiring no bank or financing. This direct private funding model is often used for house flipping, where a property is purchased, renovated, and quickly resold for profit.[14:49] How Jay Raised $2.15 Million in Private Money by Teaching Investors After losing bank financing in 2009, Jay Connor knew he needed to change his funding strategy. Rather than desperately pitching deals to investors, he chose to educate his network on private lending. This approach allowed investors to understand the opportunity and proactively commit funds. Within 90 days, Jay’s new "teacher hat" mindset successfully attracted $2.15 million from individuals simply by leading with knowledge, not salesmanship. [20:12] A Mindset Shift in Raising Capital Jen and Stacy discussed their evolution in raising capital over the years. Starting from her initial struggles securing funds for small deals, Stacy shared how her mindset shifted from feeling like she was asking for money to recognizing many people have capital sitting idle and desire real estate exposure. This helped Stacy view capital raising as providing an opportunity for passive investors rather than needing funds herself. The pair has since helped many new investors overcome similar hurdles by reframing the ask as giving others a chance to put their money to work. [36:57] Setting Return Expectations Jen discussed the typical returns investors can expect when investing in deals with her and Stacy. While stabilized assets alone offer lower cash-on-cash returns around 5-8%, they target properties that also have value-add potential to increase cash flow and property value. This allows them to provide average annual returns on investment of 11.5-13.5% including eventual sale proceeds.  Resources Mentioned: Jay Conner Jen & Stacy Conkey

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

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/

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

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

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

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.

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

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/

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

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

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

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

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

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

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

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