BiggerPockets Business Podcast

105: The MOST Profitable Skill to Learn (From a $200M+ VC Investor) with Codie Sanchez

Tue, 27 Apr 2021 06:00:00 -0000

Successful business owners are addicted to building businesses, sometimes to their folly. For someone like Codie Sanchez, this isn’t a problem, but a superpower. Codie is a journalist, a venture capital partner, an angel investor, and an entrepreneur. She loves, as she puts it, “building herself out of a job”, which means creating businesses with huge potential, getting a team in place, and heading on to better things.

Now, managing many millions of dollars, she has to look into which businesses are worth capital investments. Codie often advises business owners to act out of confidence, not fear, and consistently hire people that are better at their jobs than them. She places a very high value on having employees and workers who are competent and can help the team grow (as any smart business owner should).

Codie mentions the most profitable skill of today and how she’s using that specific skill to grow her newsletter, Contrarian Thinking. She argues that in today’s society, the top level of hierarchies for time freedom and ideological freedom is financial freedom. If you can decide what you do, where you do it from, what you can and can’t say, and how to live your life, you have the ultimate freedom available.

This episode delves not only into the life of a VC, but how small businesses can keep their loyal customers, grow their audiences, and repel those who aren’t a good fit for them. Regardless of the size of business you have, Codie presents great arguments for everyone about developing yourself, your business, and your mindset.

In This Episode We Cover

Laying the foundation of businesses and “building yourself out of a job”
How to extract yourself from your business and empower long-term success
Contrarian thinking and why it’s a crucial skill in today’s society
How to start a “high margin, low people” business
The one skill you should start building upon today
How to make your audience loyal and push away those who won’t like your offering
And So Much More!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/bizshow105

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104: How Anyone, Anywhere, Can Start Buying Profitable Real Estate with Andrew Luong

Tue, 20 Apr 2021 06:00:00 -0000

It’s hard for real estate investors to get started, especially without a mentor, a background in real estate, or an existing network. Many of those interested in buying profitable, cash-flowing real estate are busy with their 9-5 job or even running their own business. This was at least the case for landlord and founder of Doorvest, Andrew Luong, when he talked to his friends about buying rental properties.

Andrew had a passion for real estate and knew that it was one of the best ways to make residual side-income. When he chatted up friends about real estate, they were interested too. Andrew would send them to agents, property managers, show them profit margins, and more. After a few months when Andrew would ask his friends how their real estate was going, they would reply “I didn’t have time to do any of it, will you just do it for me?”

Just like that, Doorvest was born. Doorvest allows aspiring investors, regardless of where they’re at in the world, to purchase renovated, cash-flowing properties with management fully built-in. Not only does this help make a potential landlord’s life much, much easier, it also lowers the barrier of entry for anyone trying to get into real estate!

In This Episode We Cover

Resisting lifestyle creep so you can invest in your assets and businesses
Letting your day job subsidize the other business opportunities around you
Why most people won’t pursue real estate investing
Capitalizing on the leads you get, and making it as easy as possible for them to purchase/invest
Building systems and processes so you can be fully remote when running your business
Using existing data to make your real estate search more profitable
And So Much More!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow104

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103: Are You Seen as Credible in A Customer’s Eye? with Mitchell Levy

Tue, 13 Apr 2021 06:00:00 -0000

What does it mean to be credible? Are you showing up and providing for your customers, your partners, and the world as a whole? These are questions that today’s guest, Mitchell Levy has been asking. Mitchell is an expert on credibility and is trying to make not only business, but the world a more credible place to live and work.

Mitchell has been working in Silicon Valley for over 30 years. When he left his last job at Sun Microsystems, he did right at the cusp of the dot com and ecommerce era. He became an e-commerce consultant and started selling SEO packages. Then he created executive business programs for top colleges, ran multiple CEO groups, started a publishing company, and wrote over 60 books!

To find clarity and credibility, Mitchell says that you need to find a customer's CPoP, the customer’s point of pain. When you can accurately find your customer’s CPoP, you can change the way you speak to them, you can see what they want, and most importantly, you can tailor your business to fit their needs. This type of credibility goes beyond just your business. You should also be known as credible within your circle of influence and online, Mitch shows you how to get there!

In This Episode We Cover

Why credibility is so important in today’s day and age
Knowing who your audience is so you can solve their problems
Finding your customer’s point of pain
Making the world a better place through credible business
How to make your online presence and LinkedIn stand out
And So Much More!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/bizshow103

Learn more about your ad choices. Visit megaphone.fm/adchoices

102: Are You Ready to Take the Entrepreneurial Leap? with Gino Wickman

Tue, 06 Apr 2021 06:00:00 -0000

Many business owners and entrepreneurs have read books like Traction and Rocket Fuel, both of which talk about how to build a successful business, partnership, and how to use the EOS (entrepreneurial operating system). Today we have on the author of both those books, and a new book Entrepreneurial Leap, Gino Wickman.

Gino always had the entrepreneurial drive in him, but wasn’t able to label it for a long period of time. He went to work out of high school and found himself transforming his family business into something that was not only profitable, but would sell for a high price. Gino learned that his “gift” was helping entrepreneurs make their businesses more lean, efficient, and profitable.

We walk through many different components of being an entrepreneur, such as the six key traits of successful business builders, the eight critical mistakes entrepreneurs make, and how to know where you’re at on the “entrepreneurial range”. Gino argues that although many people want to be entrepreneurs, it may not be the most logical decision for them. Likewise, many of those who are successful at corporate jobs may be better served leading their own teams. There’s only one way to find out, get Gino’s new book!

In This Episode We Cover

What the EOS - Entrepreneurial Operating System is
How to know whether or not you’re a natural entrepreneur
The entrepreneurial range and where you may stand on it
The 8 most critical mistakes of entrepreneurs
How getting sidetracked can derail a successful business
Whether or not you’re a “partner person”
And So Much More!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/bizshow102

Learn more about your ad choices. Visit megaphone.fm/adchoices

101: Acquiring a $1.5M Business with Only $10k Out of Pocket with Nigel Guisinger & Sean Ade

Tue, 30 Mar 2021 06:00:00 -0000

We buy and sell a lot of different assets like houses, stocks, and even bitcoin (sometimes). But what about buying and selling businesses? Business acquisitions can seem like an entirely different world, but they aren’t too different from the regular buying and selling of assets we do every day.

Today’s show features Nigel Guisinger, who you may remember from the wildly popular episode that aired almost exactly a year ago. Last time Nigel talked about buying businesses using seller financing, and now he’s brought a real-world example! With Nigel is his partner and mentee, Sean Ade.

Earlier in 2020, Sean was looking for a business he could buy and take over. Sean had been getting into house plants during the early COVID-19 lockdowns and looked to see if nurseries were worth buying. After sending some lackluster deals to his partner, Nigel, he was notified that a terrarium shop was closing. Sean consulted with the owner and sent the profit and loss statement to Nigel who confirmed that it was a winner

Sean and Nigel used some very creative financing to get a $1,500,000 business under contract for just $10,000 out of pocket. This episode isn’t just an eye-opener for those who overlook buying businesses as assets, but also for those who don’t know what's possible in financing a business purchase!

In This Episode We Cover

The opportunity of the “business crash” happening right now
Looking for businesses that fit with your interests
The importance of having cash flow from day one of ownership
Profit and loss statements, equity, and valuations of businesses
Small Business Administration (SBA) loans
When and how to hire your first employee after you buy an existing business
And So Much More!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow101

Learn more about your ad choices. Visit megaphone.fm/adchoices

100: You Can't Fear Failure: Scott Trench on the Evolution of BiggerPockets

Tue, 23 Mar 2021 06:00:00 -0000

How does a 27 year old become the CEO of a major online brand? Not only that, how does a 27 year old take an online brand, build upon it, and create something better? Well, if your name is Scott Trench, the answer is: a lot of hard work, some tough decisions, and looking out for the customer whenever possible.

Before he was head honcho at BiggerPockets, Scott was a financial analyst in the corporate world. He wasn’t too happy, and spent all his free time finding the best (and quickest) ways to reach financial freedom so he didn’t have to go to a 9-5 for the next 40 years of his life. Without many investments or rental properties, Scott was introduced to the founder of BiggerPockets, Josh Dorkin.

Josh saw something in Scott, and hired him as the third employee of BiggerPockets. Scott was given the title “Director of Operations” which really meant taking care of the finances for the business and making sure everyone had their coffee. Scott started acquiring more properties as he worked with Josh and later became such a crucial part of the BiggerPockets family, he was promoted to president. When Josh decided to step away to be with his family, Scott became CEO.

In the 2 years he’s been CEO, he’s had to make some tough decisions such as changing the overall management structure of the company. This has helped BiggerPockets grow into a website and business that over 2,000,000 people use and love. When Scott isn’t running BiggerPockets, he’s playing rugby, gaming on his PC, or having a beer with a fellow investor!

In This Episode We Cover

How Scott used the principles outlined in Set for Life to reach financial freedom
Taking a chance and joining a very early stage startup
The importance of having very low expenses when making hard decisions
How to work with a private equity firm when they acquire part of your business
NPS (net promoter scores) and why they’re crucial for continual business improvement
Driving value for shareholders, without tarnishing your brand for customers
Scott’s new book First Time Home Buyer
And So Much More!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow100

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99: Finding Profitable Opportunities Using “Deliberate Data” with Dr. John Johnson

Tue, 16 Mar 2021 06:00:00 -0000

Data can be a confusing topic for most people, but what about when it has to do with your business? How is your business using data? Are you even using data at all? Dr. John Johnson, expert witness, professor, and founder of Edgeworth Economics and Edgeworth Analytics argues for businesses using data to grow.

Dr. Johnson understands why so many people fall victim to studies and findings that may not be entirely accurate. He talks through confirmation bias and how we, as consumers, can find the red flags when listening to interpretations of data. We are urged to take time to think before we accept statistics and data as fact.

He also dives into how he started his own firms, Edgeworth Economics and Edgeworth Analytics, and how he himself uses data to track his firm’s growth, recruiting, and revenue. Often, his firm is hired to find why a product or group of products is or isn’t selling, which strategies make the most profitable sense, and how a business can change to ensure more sales. Aside from that, Dr. Johnson also acts as an expert witness in corporate lawsuits, sifting through the data to find out what is really true, and what has been inflated.

There’s no mistaking that data is important for modern businesses, but what’s more important is how you use and interpret this data to come up with accurate conclusions. His book, Everydata: The Misinformation Hidden in the Little Data You Consume Every Day goes into the data all around us, and how we can sift through it to find truth.

In This Episode We Cover

The expert witness and testimony field
Checking your own bias and making sure your decisions are based on accurate data
Understanding the context around the data that is being recorded
Tracking growth and recruiting so you know where you’re succeeding
Using common sense when looking at different data points
And So Much More!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow99

Learn more about your ad choices. Visit megaphone.fm/adchoices

98: Build a Big Life, Not Just a Big Business: Advice from The Hosts of The Empire Building Podcast

Tue, 09 Mar 2021 07:00:00 -0000

How do you build a business that ties in healthily with your life? While you’re trying to bring in millions in revenue, are you there for your children, your spouse, your loved ones, or even yourself? If not, why are you building the business at all? This was a main topic of discussion for the hosts of the Empire Building Podcast, Wendy Papasan, Sarah Reynolds, Seychelle Van Poole, and Vija Williams.

Wendy, Sarah, Seychelle, and Vija have all grown massive real estate empires throughout their own respective markets. Now, they teach others to do the same through their podcast and their live event, Amplify. We talk through some key topics like how all these successful women juggle their business/personal lives, when the right time to say “no” is, how to grow your business, how to hire successfully, and knowing your numbers.

All agree that a big part of being successful is saying “no”. That doesn’t mean turning down everything, but it does mean saying no to things that will interrupt your time with family and friends. Sarah, specifically, talks about how she was unable to put her kids to bed most nights of the week, since she was coming home at 10PM from the office. What did she do? She made it a rule to leave by 5PM. This not only helped her be there for her daughter, but allowed her team to take bigger roles.

These four women all personify what it means to be successful in business and in life. Not only that, they can help you too find the best way to build a “big life” not just a big business.

In This Episode We Cover

Answering the classic “how do you do it all?” question
Running 7-figure real estate empires
Being super selective with what you say “yes” to
Defining your personal mission and looking at it daily
Learning the power of hiring so your business can build sustainably
Figuring out the profit/loss ratio of your life
And So Much More!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/bizshow98

Learn more about your ad choices. Visit megaphone.fm/adchoices

97: Put Profit First: How to Compound Your Business and Personal Income with Rocky Lalvani

Tue, 02 Mar 2021 07:00:00 -0000

Rocky Lalvani came to the United States as a small child. Like many immigrants, Rocky’s parents arrived with a small amount of money, around $25. As hard workers, they were consistently talking to their friends and relatives about how to make more money so they could have the coveted “American Dream”. This is how Rocky started his education in money and finances, and what pushed him to become wealthy.

Now, Rocky teaches businesses and entrepreneurs the Profit First system, which is exactly what it sounds like. A business usually calculates profits as sales - expenses = profits. Rocky argues that this is an inefficient way to see your true profit, and what the actual calculation should be is sales - profit = expenses.

You may be asking how to minimize expenses so the above formula can work. The solution to this isn’t that you need to manipulate the numbers so your expenses equal the difference between your sales and your profit, but that you need to minimize your expenses when possible. But what about fixed costs? What about startup costs? As Rocky puts it, you need to have a customer before you start having expenses, something businesses rarely realize is not only possible, but profitable.

Rocky also goes into his #1 tip for accumulating wealth and dives deep into why the phrase “the rich get richer” tends to be true. He also goes into how businesses can allocate their profits correctly, have the accurate amount for taxes, and pay themselves first so they’re making money while their money makes money!

In This Episode We Cover:

How Rocky became a millionaire through compound interest
What the Profit First system does for businesses and entrepreneurs
Harnessing the 40% of your work that creates most of your profit
Dismissing the notion that you need to spend more to grow
How real estate investors can use Profit First in their businesses
Setting up separate bank accounts and allocating your money
And So Much More!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow97

Learn more about your ad choices. Visit megaphone.fm/adchoices

96: Starting Successful Businesses with NO Industry Experience with Jeff Fenster

Tue, 23 Feb 2021 07:00:00 -0000

There are often standard prerequisites for starting a company. First, you need to go get a degree for a certain field, then you need to find a job that is in that field, then you need to stay in that job for 10 years to gain connections, and finally, you can start a business. Jeff Fenster, serial entrepreneur and founder of Everbowl thought this linear path was a bit outdated. If anything, Jeff thought it was slightly backwards!

Jeff planned on becoming a lawyer in college, but once he had his first child, realized that being away from home wasn’t for him. He got a sales job and became the top sales rep in his company. When the company started dangling bonuses over his head, he felt uncomfortable and knew that he needed to start his own thing.

He ended up founding a company that directly competed with his former employer, then sold that company, started another, sold that one, started a few more, sold those companies, and many companies later, he started Everbowl, a craft acai bowl and superfood company based out of San Diego.

If variety is the spice of life, then Jeff is doing things right! He argues that the best thing you can do is go into a completely new industry, focus on a problem that competitors are overlooking, build systems to make the industry better, and carve out a portion of the market. This strategy has worked well for him as he’s profitably sold and started many different companies. If you want his breakdown on his formula to success, you’ll have to tune in to this episode!

In This Episode We Cover:

Why industry experience isn’t necessarily a prerequisite for success
How “fresh eyes” disrupt stagnant markets and industries
What to do before you try and solve a business’s problem
Developing systems that beat competitors for you
Addressing the not-so-obvious needs of customers
Focusing on company culture and core values when building a business
Leveraging your “relationship capital” for future opportunities
And So Much More!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow96

Learn more about your ad choices. Visit megaphone.fm/adchoices

95: Developing Unstoppable Partnerships with Elliot Smith and Tucker Merrihew

Tue, 16 Feb 2021 07:00:00 -0000

Building businesses from the ground up isn’t easy. It requires patience, hard work, and most importantly, a solid team. Without trust in that team, the product, the company, and the vision can completely disintegrate. When a team flourishes, you can create a massive success, where everybody wins.

Tucker Merrihew and Elliot Smith have been working throughout the past year on Call Magic, a service that helps uncover leads for real estate agents, wholesalers, flippers, and other real estate professionals. Elliot originally teamed up with Cole Ruud-Johnson (who you’ll hear on our Real Estate Podcast, very soon), and everything was running well, but they realized they needed a leader. After Elliot talked to Tucker about the project, Tucker was in.

There was just one contingency: the product and the company had to be the best of the best. The three partners agreed to put their all into it, and respect each other’s work. Cole already had experience running an outsourced cold calling team, Elliot had years and years worth of real estate experience under his belt, and Tucker had the Real Dealz Podcast audience at his disposal.

Elliot and Tucker walk through setting up your business and your team for success, what to worry about and what to hold off on, hiring team members from overseas, and growing a business to scale, not fail.

In This Episode We Cover:

What to look for in a business partner/what to look for in an existing partnership
How to “dummy proof” your business
Managing, paying, and hiring workers that are overseas
How to have better cold call conversations that secure leads
Setting out to become the best of the best in your industry
Trusting your partners and letting them show their strengths when working together
And So Much More!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/bizshow95

Learn more about your ad choices. Visit megaphone.fm/adchoices

94: How the Science of Humor Can Turn You Into a Better Businessperson with Peter McGraw

Tue, 09 Feb 2021 07:00:00 -0000

What does humor and business have in common? At first glance, not much, but after digging a little deeper, there’s quite a lot that humor can teach us about business. Peter McGraw, behavioral scientist, author of Shtick To Business and The Humor Code, and host of the Solo Podcast kept wondering why we find certain things funny. He decided to put it to the test in his lab, HRL, the Humor Research Lab.

Peter discovered that we often find things funny when they’re wrong, but okay. Threatening, yet safe. Things that make no sense, yet make perfect sense. Most importantly, you don’t want to be the person who thinks they’re funny, but actually isn't it. You have to think funny, not just be funny. You have to fight the status quo constantly, to make material that people will find outlandish, but true enough to laugh at.

But how does that relate to business? Peter brings some great business examples that followed the same flow of most comedy writing routines. Take AirBnB for example, when they first launched the idea, most people thought they were crazy. I mean, who would want to sleep in someone’s spare bedroom or mother-in-law suite for a weekend? It turns out, almost everyone in the world would.

These kind of outlandish but great ideas come through a process that Peter calls “Sh*t-storming”. Contrary to regular brainstorming, sh*t-storming is when you throw out crazy ideas, and sometimes, something will come out that is so crazy, it actually works. Besides AirBnB, Peter relates this to Tim Ferris’s cold calling method and the P90x workout system as just a few examples.

Comedy and business aren’t that far apart in the idea creation stage. Follow Peter’s advice and your business won’t get laughed out of your next meeting!

In This Episode We Cover:

The underlying theme of humor and why we find things funny
How writing jokes and creating businesses overlap
Fighting the status quo to create something that is great
How to create a “chasm” so your customers love you and you’re haters don’t
The importance of keeping an idea journal to write in
Saying yes to happiness, regardless of the financial outcome
And So Much More!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/bizshow94

Learn more about your ad choices. Visit megaphone.fm/adchoices

93: Creating a Plan for Your Business, Career and Life with MIT Teacher Mark Herschberg

Tue, 02 Feb 2021 07:00:00 -0000

An author, a CTO, and a champion ballroom dancer walk into a podcast...it’s Mark Herschberg! Mark is a man of many talents, graduating from MIT, becoming a champion in ballroom dancing, and later becoming a COO and CTO for multiple startups. How does someone do it all, and do it all so well?

After college, Mark was working in computer science and began having to hire new team members on board for the companies he worked at. He realized that many new hires had technical skills, but didn’t have skills that correlated to becoming better leaders or teammates. Mark saw that there was a whole realm of soft skills that weren’t being taught to graduates coming into the workforce. So he partnered up with MIT to develop a course on acquiring these skills and became a lecturer. He’s been teaching this material for the past two decades!

As the classes went on, Mark decided to write some notes that every student would be able to use throughout the class. After writing close to 100 pages, Mark realized that this wasn’t just a set of notes, this was a full-on book. This became The Career Toolkit and taught Mark not only how to write, but the challenges of publishing and marketing a book.

If you’re a solo entrepreneur, a CEO of a startup, regular employee, or still looking for career opportunities, Mark advises that you create a career plan, outlining what your life, career, and future will look like. How can you accomplish the goals you’ve set and what do you have to do to put yourself in a beneficial position?

Maybe you’re shy or introverted and find it hard to talk to partners, maybe you want to know how to network in a post-COVID world, or maybe you want to know how to manage teams and lead a company to optimum efficiency and employee satisfaction. Mark does a fantastic job of answering these questions and more in a succinct and relatable way.

In This Episode We Cover:

Developing your soft skills like leadership and teamwork
The skills all entrepreneurial endeavors require
Why you need to stop treating your 1000th customer like your 1st customer
Creating a career plan (regardless of if you work in corporate or work for yourself)
Building your network and creating reciprocal benefits
Networking in a digital age and why you should always have business cards on you
And So Much More!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow93

Learn more about your ad choices. Visit megaphone.fm/adchoices

92: The 3 Biggest Mistakes People Make During Negotiations with Kwame Christian M.A. Esquire

Tue, 26 Jan 2021 07:00:00 -0000

Negotiation is all around us, whether we see it or not. Whether it’s a business negotiation, an argument in a relationship, or convincing your child to eat their greens, you’re always negotiating. With us on today’s episode is Kwame Christian M.A. Esquire, host of the Negotiate Everything podcast and author of Finding Confidence in Conflict.

Most people think you have to be a lawyer to be an expert negotiator. Kwame argues that this isn’t true. Since we are constantly negotiating every day, we have the ability to level up our skills to become experts in debating and negotiating. He stresses that winning a negotiation doesn’t mean beating your opponent so they’re embarrassed at the end. It means giving you AND the opponent the ability to walk away from the situation with a win.

Kwame preaches “compassionate curiosity” as one of the best ways to research how an opponent may answer questions you present to them. Tie this with some creative problem solving, and you’ll come out of the debate a winner.

As real estate investors, this is especially key to our line of business. We’re constantly debating with sellers, buyers, appraisers and more to get outcomes that benefit us. But how can we suggest an outcome that makes the negotiating partner feel good and presents us with future opportunities? You’ll have to listen to find out!

In This Episode We Cover:

Why negotiating isn’t just arguing and how to find wins for both parties
Using “The Empathy Loop” as a tactic to have the other party feel heard
The 3 pillars of negotiation, and keeping them in mind when we debate
The biggest mistakes people make when negotiating
Research vs. preparation (when to use which for what)
Compassionate curiosity and seeing your opponents point of view
Maintaining your “form” throughout negotiation
And So Much More!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow92

Learn more about your ad choices. Visit megaphone.fm/adchoices

91: How Businesses Get Sold for Millions with Chris Younger

Tue, 19 Jan 2021 07:00:00 -0000

If you’re a new entrepreneur, it may seem like a dream to sell a business for millions of dollars. People like Chris Younger, make that dream a reality. Chris founded Class VI Partners, an investment bank that helps entrepreneurs plan and prepare businesses for sale. Chris will be the first to admit that selling isn’t an easy process, it takes time, patience, and a lot of documentation.

Chris compares selling your business to running a marathon: you need to be in it for the long haul to finish strong. He helps owners reach a price point that works for their future, and helps create the processes around selling that enable a new owner to carry the business to new heights. For many owners, success in selling comes from doing the hard work upfront, not putting it off for your future self (and employees) to deal with.

So why would an entrepreneur want to sell? Maybe it's personal timing and they feel like they’ve given the business as much as they possibly can. It also could be business timing, the business may be seeking a new change in direction. Or it could be buying timing, a buyer comes in with the right offer, the right ability, and makes the sale.

Whatever a reason for selling a business, a business owner needs to be prepared for their business to sell at some point. So even if you’re just starting out, hearing words of wisdom from Chris may net you a few more million dollars!

Check the full show notes here: http://biggerpockets.com/bizshow91

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90: How Solo Entrepreneurs Can Improve Their Products and Businesses with Ben Foster

Tue, 12 Jan 2021 07:00:00 -0000

You may own a small business, some rental properties, or are just tinkering with a new idea. Regardless of where you’re at in your entrepreneurial journey, you’re most likely trying to make something that will not only resonate with customers, but allow them to solve a problem in their life. So how do you make a product that accomplishes this to the fullest extent?

Today we talk to Ben Foster, founder of Prodify and Chief Product Officer at WHOOP. Ben has been in this space for a long time, working with big names like eBay and Opower. After his initial success at corporate he founded his consulting firm, Prodify and has since then worked with 70+ different companies all tackling a common goal: make a great product.

If you’re just starting out in your business, you may think the best course of action is to tack on as many useful features as possible into one product, but Ben warns against this. Companies that tend to do well with products are the companies that have a core competency and then build out from it.

Great products also take market input from the customers that matter most. That doesn’t mean only the top 10% of users for an app, that means the bulk majority of customers who use the app. This is where many product teams get it wrong, and as you’ll see in the interview, there are a lot more caveats in product management than originally meets the eye.

If you’re interested in product marketing, engineering, management or anything else related to building a great product, check out Ben’s book Build What Matters and of course, listen to this episode!

In This Episode We Cover:

What product management really is (and what the goal should be for teams)
The difference between products for sale and product management
What makes a great product team
How to achieve (and go after) product market fit
When to release the initial version of your product
Which opinions matter most when collecting customer data
Building an infrastructure so products can succeed from the start
Bad product traits to avoid when building out your product
And So Much More!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/bizshow90

Learn more about your ad choices. Visit megaphone.fm/adchoices

89: How David Greene Plans to Sell $150 Million of Real Estate in 2021

Tue, 05 Jan 2021 07:00:00 -0000

For the first episode of 2021 we have David Greene from the BiggerPockets Real Estate Podcast! We’ve heard from David before on a couple of past episodes, but today he goes over something a bit different: how he successfully scaled his real estate business from being a sole agent to a team doing $90,000,000+ in transactions a year!

This didn’t happen overnight. It took David years of trial and error to find out what really works in real estate, why most agents fizzle out in the first 5 years, and how to bounce his team members off of each other to generate more sales and higher commissions.

David has strategies and advice not only for real estate agents, but also for business owners that want to build a business that has the ability to scale. In 2019 David’s team did $26,000,000 in transactions, in 2020 they did $90,000,000 and in 2021 they’re planning to hit $150,000,000. We’re sure David will fly past that milestone as well!

You’ll hear why David became an agent in the first place, why marketing is key to real estate (and almost every other business), how to gauge motivation from clients and prioritize accordingly, and some lead generation strategies David’s team uses.

Real estate agent or not, this is some great information that big and small businesses can take to heart and put into practice right away!

In This Episode We Cover:

Why you should read David’s new book, Sold!
The difference between an average agent and a great agent
Why 87% of agents are out of the business within 5 years
How to market your products and services
Top lead generation strategies for real estate agents
Understanding your skills/weaknesses so you can build a team to compensate for them
The importance of “baseline adjustments” when talking to clients
Why a W2 mindset doesn’t work in a 1099 career
And So Much More!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow89

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88: What’s Your Special “Cut”? Why Brandon Turner and David Greene Doubled Down on Theirs in 2020

Tue, 29 Dec 2020 07:00:00 -0000

If you’re a fan of the BiggerPockets Business Podcast, you’re probably also a fan of the BiggerPockets Real Estate Podcast. Lucky for you, we’ve got a combo of these two shows on today’s episode!

Joining us from Maui are the co-hosts of the BiggerPockets Real Estate Podcast, Brandon Turner and David Greene. Both Brandon and David are known for their persistence and ingenuity in business, this is cemented in the fact that both of them made huge leaps forward in 2020, while many other businesses fell by the wayside

Both Brandon and David realized earlier this year what their “special cut” was, and how to use it to scale their businesses faster, and with less effort from themselves.

Both of them started adjacent businesses to what they were currently doing, only to find that their success grew even faster when they bounced businesses off of one another. They also got more comfortable with hiring, making executive decisions, and as Brandon likes to put it “being the general of your own life”.

But how do business owners persist to strive for success, even when the odds are stacked against them? Brand and David also have an answer for this as well, and it comes in the form of morning rituals, community, coaching, and perseverance.

This isn’t an episode about real estate. This is an episode about how you can take the losses or wins from 2020, and turn them into something bigger and better than you ever imagined...

In This Episode We Cover:

What Brandon and David have been working on this year
Finding your “Dr.Ozd Cut” and how that enables you to grow your team
How to provide value to a mentor or business professional you’d like to work with
The top trends of successful real estate investors and businesspeople
How adjacent businesses allow you to expand your reach and use your existing resources
How to “be the general of your life”, specifically with business
Brandon’s morning ritual for success
How to find the right business and performance coach (and why it’s worth the investment)
And So Much More!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow88

Learn more about your ad choices. Visit megaphone.fm/adchoices

87: The Benefits of Franchising vs. Starting a Business from Scratch with Jon Ostenson

Tue, 22 Dec 2020 07:00:00 -0000

You hear the word “franchising”, what’s the first thing you think of? For many people, they think of selling hamburgers, sandwiches, or opening up convenient stores. To franchise matchmaker and consultant Jon Ostenson, that’s just the surface level. There is a whole world of franchising that many entrepreneurs and business professionals don’t know about.

Jon started out working in consulting for Fortune 1000 companies and was slowly introduced to the concept of franchising. Jon found franchising incredibly interesting, as a cross between new business ownership and existing systems/infrastructure. The business model purely made sense.

Now as the CEO of Franbridge Capital, he works with entrepreneurs and franchise owners as a matchmaker, seeing who would work best with which franchise, and vice versa.

Jon walks through some of the key benefits of franchising that other business models don’t have, and some of the dangers for interested entrepreneurs. He also goes through the different franchise business models and some franchise examples that you may have never thought of.

How much risk is in franchising? Does franchising produce better ROI than other businesses (even real estate)? What are the opportunities in 2021 for franchising?

Hearing Jon’s answers may present a whole new world you never knew about, and might even get the ball rolling for you to become a partner in a franchise yourself!

In This Episode We Cover:

The different types of franchising businesses
The key benefits of running a franchise
The dangers of franchising that entrepreneurs should know
What type of profit margins you can make with franchising
How territories work when buying into a franchise
Taking over an existing franchise or starting a new one yourself
How to fund franchises (even with retirement accounts!)
The industries where franchises could be taking off in 2021
And So Much More!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/bizshow87

Learn more about your ad choices. Visit megaphone.fm/adchoices

86: Becoming a Real Estate Angel Investor with Jonathan Wasserstrum

Tue, 15 Dec 2020 07:00:00 -0000

Jonathan Wasserstrum, founder of SquareFoot likes to say that he was working in PropTech before PropTech was a thing, and he’s right! For the past few decades, many industries were seeing expansive growth, new ideas, and upgraded technology. One of the industries that didn’t see that tech growth was real estate.

Jonathan found that many commercial real estate customers were looking for a consumer-facing option to view commercial spaces from the comfort of their own homes. Why were there so many residential real estate sites, but no commercial real estate sites? That’s where Jonathan’s company SquareFoot came in!

SquareFoot took off and over time was becoming a staple product for those looking for commercial real estate spaces. Due to its success, Jonathan was in a great position, which allowed him to become an angel investor for real estate deals and different startups, passing on his knowledge and capital to other new businesses!

Jonathan talks syndications, funds, and investing as a whole. For any investor who wants to see their industry grow and advance forward, Jonathan is a great success story showing you have the power to change your industry for the better!

In This Episode We Cover:

How to start a self-funded venture, even at a young age
Why real estate is such a great industry (residential and commercial!)
Why startups have such a high mortality rate
Why PropTech is so important to investors, tenants, and all real estate professionals
Why “flexibility is the future”
The difference between syndications, funds, and more
Why investing can make you a better business owner
How angel investors think when investing in a new business
And So Much More!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow86

Learn more about your ad choices. Visit megaphone.fm/adchoices

85: Building More Income Streams During COVID-19 Shutdowns with Ralphie Martinez

Tue, 08 Dec 2020 07:00:00 -0000

No business has had a tougher time this year than physical-based businesses, and that is certainly the case for our guest, Ralphie Martinez. Ralphie owns Martinez Elite Fitness in Northern California, and was just reaching his business’s peak when COVID-19 started to spread, rendering his business closed until further notice.

Ralphie is the definition of someone with an entrepreneur’s mentality. He was working a 9-5 job when he opened up his garage gym for friends to work out in. Friends would invite other friends, and before he knew it, he was teaching a class before going to his full time job, then coming home and teaching two more classes.

Like so many entrepreneurs, Ralphie turned his passion into something that not only helped other people, but made money. For the past 6 years, Martinez Elite Fitness has been a local success, gaining more and more members every year.

Even in an unprecedented time like 2020, Ralphie has found ways to keep his business going, regardless of shutdowns, curfews, and other roadblocks. Having a positive attitude, the support of his partner and family, and a strong community has helped him and his business stay fighting.

In This Episode We Cover:

How to harness your passion and turn it into a business
The importance of having a partner who will push you to follow your dreams
Why referral and word-of-mouth marketing is a very powerful tool
Knowing the “why” behind running your business (outside of making money)
Why you’ll need to think creatively when reality is working against you
Finding other streams of income even when your business may be slow
The importance of quality time with family, especially during high-stress and uncertainty
And So Much More!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/bizshow85

Learn more about your ad choices. Visit megaphone.fm/adchoices

84: Becoming the Most Successful Version of You With Dre Baldwin

Tue, 01 Dec 2020 07:00:00 -0000

Are you lacking in motivation? Don’t have the focus on you want/need to succeed? Not sure how to define who you want to be and how to get there?

If so, today’s episode is for you!

Dre Baldwin -- former professional basketball player and current motivational entrepreneur -- has worked hard to get where he is today. He went from sitting on his high school basketball team’s bench to walking on at an NCAA D3 school to building a 9-year professional basketball career AND building a brand online at the same time in 2005. This all led to the foundation for the Work On Your Game business Dre runs today, having reached over 73 million people over the last 15 years through 27 books, 4 TEDxTalks and more content than any human on earth.

In this episode, Dre gives us his strategies for building motivation and taking yourself to the next level through discipline, confidence, mental toughness and mental conditioning. Dre talks about his entrepreneurial growth -- including the consistency to have created over 7,000 educational videos in past 15 years, generating over 73 million views!

And he provides a framework for how we can do it to…

Make sure you listen all the way into the Four More segment for Dre’s amazing tip on how you can be more successful at building an audience from scratch the first time you try!

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

Links from the Show

BiggerPockets
Ted Talks
Dre's Video Sent to J and Carol
Free E-book from Dre: Mirror of Motivation
Books by Dre

Check the full show notes here: http://biggerpockets.com/bizshow84

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83: Build Your 7 Figure Amazon Business Step-by-Step With Mike Begg

Tue, 24 Nov 2020 07:00:00 -0000

Did you know that over 200,000 entrepreneurs currently sell over $100K per year on Amazon? Sales continue to skyrocket with no indication of slowing down anytime soon… and this week, our guest is here to help you get in on the action!

Mike Begg -- co-founder of AMZ Advisers -- started a side-hustle business selling on Amazon with three buddies while they all worked corporate jobs. Making mistakes and learning lessons the hard way in the early days, the team never gave up, continuing to learn and tweak their business model until they achieved massive success on the platform. Fast forward five years and tens of millions of dollars in sales, Mike and the team now run their business from the sandy white beaches of sunny Mexico, also helping other business owners generate over $1M in sales each while carving out their piece of the Amazon pie.

Mike lays out a step-by-step roadmap for identifying product needs on the platform, sourcing inventory, and building a stellar brand that speaks to buyers and generates sales. He talks about the right way to work with vendors overseas, achieving the right mix of pricing and volume, and determining when it makes sense to create additional sales funnels across multiple channels. And most importantly, he reminds us that anyone-- with focus, dedication and a bit of expert assistance-- has the opportunity to generate significant additional streams of income online.

Make sure you listen all the way to the end, when Mike gives us some excellent resources to learn more, right NOW.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/bizshow83

Learn more about your ad choices. Visit megaphone.fm/adchoices

82: Putting Your Business on Auto-Pilot With Justin Silverio

Tue, 17 Nov 2020 07:00:00 -0000

Do you want to get your business to the point where you can simply leave for several months without worrying about things continuing to operate and grow? Do you want to get there quickly and with little risk?

If so, today’s episode is for you!

Justin Silverio - real estate investor and founder/owner of the real estate marketing company, Open Letter Marketing -- is here to tell us how he he was able to position his company to run on its own in just a couple years. Justin talks to us about key hiring, setting up processes and organizing operations in a way that will allow you, the CEO, to put your team in charge and free you up to focus on other pursuits.

In this episode, we talk about pricing strategy (and mistakes), how to massively reduce your expenses, and how to hire the perfect employees who you can trust to manage and run your business.

And, for you real estate investors, Justin provides his expertise on how to best handle acquisition marketing for your deals in today’s crazy real estate world!

Make sure you listen for Justin’s tip on how to ensure you hire the right person THE FIRST TIME, and don’t end up making a bad hire because you didn’t have all the information you needed about the candidate. This may be one of the best hiring tips we’ve ever heard!

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

Links from the Show:

Check the full show notes here: http://biggerpockets.com/bizshow82

Learn more about your ad choices. Visit megaphone.fm/adchoices

81: Using Your Strengths to Find Opportunity With Dustin Reichman

Tue, 10 Nov 2020 07:00:00 -0000

Do you have strengths that can help other business owners? Do you have skills that can be used to help elevate someone else’s business to new heights? Do you have expertise that makes you the perfect partner for someone else’s business?

If so, starting a business isn’t the only way to become a successful business owner!

Dustin Reichmann -- partner and co-owner of FireCreek Snacks -- was able to take his marketing expertise and turn it into an opportunity that has propelled his and his partner’s business to new heights. In this episode, Dustin provides us a blueprint for using your strengths and expertise to find opportunities to help other business owners, and ultimately create new opportunities for yourself as well.

Dustin talks about how to analyze your abilities and use them to start generating income for you TODAY. And also use them to generate opportunity for tomorrow. Specifically, Dustin provides us two great ways to turn anything that you’re good at into a potential new income stream! We also dig into the nitty-gritty of product marketing, including how Dustin was able to get his product into some of the largest retailers in the world, including Walmart.

Make sure you listen til the end to hear Dustin’s amazing piece of wisdom for those scared to take massive action.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow81

Learn more about your ad choices. Visit megaphone.fm/adchoices

80: Turning Problems Into New Income Streams With Stephanie Betters

Tue, 03 Nov 2020 07:00:00 -0000

Being a business owner is exceptionally rewarding in so many ways… but as all successful entrepreneurs know, it’s certainly not all glitz and glamour! We ALL experience problems, and the way we navigate those problems can make or break our business. But what happens when we take it a step further, creating new opportunities by choosing to not only navigate, but instead TACKLE complex problems head on?

Check out Stephanie Betters, founder and owner/operator of SocialMediaREI, Left Main Real Estate Investment Lifeline and Better Path Homes. Mastering the skills of managing it all, Stephanie talks with us about how she started two new income streams that originated from complex problems she solved to help her own business. Realizing many other business owners faced the same challenges, she began offering her product solutions on a broader scale -- all while raising three young children and continuing to practice medicine full-time as a cardiac surgery nurse practitioner.

Stephanie tells us about her creative approach to self-solving a problem that would have otherwise cost nearly $100K to outsource, which ultimately led the world’s #1 CRM, Salesforce.com, to come knocking at her door. She serves up a valuable roadmap of the right way to go about finding help (including that first daunting hire of a personal assistant); the critical importance of creating measurable, time-sensitive goals to move your business forward, and avoiding the all-too-common entrepreneurial trap of “starting to drive the bus without knowing where you’re going.”

And make sure you listen for Stephanie’s tips on working with your spouse, significant other, or partner… a challenge we all face when growing a business while keeping family front and center.

Check her out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow80

Learn more about your ad choices. Visit megaphone.fm/adchoices

79: Originating $500m in Real Estate Loans With Matt Rodak

Tue, 27 Oct 2020 06:00:00 -0000

Growing a business isn’t easy. But, it gets much easier when you understand the growth process and how you should be navigating that growth as your company’s CEO.

Matt Rodak -- founder of Fund That Flip, a real estate crowdfunding company and #647 on this year’s Inc 5000 list -- is with us to talk about how he both started his company and then grew it, with over $500M in total investor loans originated since 2015. Fund That Flip both lends to real estate investors and provides opportunities for lenders looking for passive returns -- Matt discusses his strategy serving two very different customers in your business.

Then, in the second half of the episode, Matt walks us through his roadmap for company founders, including the 5 distinct phases of growth every successful founder must follow to take their business from concept to world domination. When should you “go to war?” When should you “focus on peace?” And how to traverse the point in many business owners lives when they start to find themselves getting complacent.

Make sure you listen for Matt’s absolutely best tip for how you can stay focused on your business and not get sidetracked by others who don’t necessarily have your best interests at heart!

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow79

Learn more about your ad choices. Visit megaphone.fm/adchoices

78: Building and Scaling a Massive Real Estate Business With Nathan Brooks

Tue, 20 Oct 2020 06:00:00 -0000

We have a very special episode for all of you real estate investors this week. But, even if you’re not a real estate investor, you’re going to get a TON of great tips out of this show!

Nathan Brooks -- founder of Bridge Turnkey Investments and #1304 on this years INC 5000 list -- has built a turn-key real estate investment firm that has bought, renovated and sold over 500 houses in the past 5 years. While we talk a lot about real estate in this episode, we focus on growing and scaling a business, whatever industry it might be in.

Just some of topics we cover in this jam-packed episode:

Using Key Performance Indicators (KPIs) in your business to track and optimize.
Creating processes to scale your business, including when NOT to create processes.
Building an amazing culture within your organization, whether you have one employee or 100 employees.

And don’t miss the part of the episode where Nathan gives some absolutely fantastic tips on how to find employees, how to interview them, and how to make successful hiring decisions. Make sure you listen for Nathan’s unconventional -- but absolutely spot-on -- tip about that one things we tend to avoid when hiring, but that we should instead be focused on!

Plus, Nathan gives nearly a dozen of his favorite book recommendations, many that I promise you’ve never even heard of.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/bizshow78

Learn more about your ad choices. Visit megaphone.fm/adchoices

77: Buying 7-Figure Businesses With Minimal Risk With Elliott Holland

Tue, 13 Oct 2020 06:00:00 -0000

Thinking about buying a business, but worried about getting taken advantage of by the seller? Not sure how to finance the business and purchase with the least amount of your own cash? Want some assurances that the seller will stick around to help in the case where you have an issue or problem?

If so, this episode is for you!

Elliott Holland -- Harvard MBA and founder of Guardian Due Diligence -- spends his life helping entrepreneurs select businesses, underwrite them, and then perform the due diligence process that will keep those entrepreneurs from getting taken advantage of by sellers. And he is here this week to walk us through how we should be approaching due diligence, how long it really takes, what’s involved, and how it’s different than the DD process we might be accustomed to as real estate investors.

In this episode, we also talk about getting seller financing when buying a business, and how we can get a whole lot more seller financing than we might expect. In fact, combined with bank or SBA financing, seller financing a deal may allow us to put little -- if any -- of our own cash in the purchase.

Make sure you listen for Elliott’s explanation of why the typical seller has a 4 times greater incentive to lie about the income being generated by the business than you might think. At the same time, he also provides an amazing tip on what we can do upfront during the purchase process to ensure that the seller picks up the phone and helps us when we run into a question or issue after the purchase!

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/bizshow77

Learn more about your ad choices. Visit megaphone.fm/adchoices

76: Using Intellectual Property in Your Business to Protect and Profit With Devin Miller

Tue, 06 Oct 2020 06:00:00 -0000

Ever wondered what it took to get a patent? A trademark? A copyright? Or even the difference between the three of these things? Ever wondered how they could be used to protect your business, as well as be used as an income stream for your business?

If so, this episode is for you!

Devin Miller -- engineer, MBA and attorney, and founder of Miller IP Law -- is an expert on both intellectual property (IP) and business. And he is here with us this week to dispel a ton of myths about IP, as well as provide the information you need to start using IP to protect and enhance your business.

In this episode, Devin tells us how each of these different forms of intellectual property can -- and should be used -- how much it costs to register each of them, how long it takes, and when we should (and shouldn’t) consider doing it.

And make sure you listen to the end, when Devin tells us about two books that have changed his perspective on entrepreneurship, and will likely do the same for you!

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow76

Learn more about your ad choices. Visit megaphone.fm/adchoices

75: Acquiring Businesses Using Other People’s Money With Shawn McCoy, Tom Szold & Charlie Szold

Tue, 29 Sep 2020 06:00:00 -0000

Are you interested in entrepreneurship through acquisition (basically, buying existing businesses), but aren’t sure where to start? Want to buy a business but don’t know where the money will come from? Always wondered whether it was possible to buy a business with no money down?

If so, this episode is for you!

Sean McCoy, Tom Szold & Charlie Szold -- co-owners of Precision Safe Sidewalks -- walk us step-by-step through the acquisition of their company. From the acquisition channels they use to find potential purchase targets, through underwriting, due diligence, purchase and transition -- they detail each piece of the process, both in terms of how it worked for their purchase and how you should be approaching it for yours.

Most interestingly, they walk us through the “capital stack” of the business -- how they used a combination of an SBA loan, private money from outside investors and seller financing from the owner of the business to essentially purchase with no money out of their own pockets. They even detail how they connected with outside investors, and how they structured the investments.

Make sure you listen to our discussion about how it’s not only possible to get the seller of the business to provide part of the financing for the purchase, but why it’s often in the seller’s best interest to do so!

Check them out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow75

Learn more about your ad choices. Visit megaphone.fm/adchoices

74: Using a Real Estate Business to Grow a Real Estate Portfolio With Steve Strauss

Tue, 22 Sep 2020 06:00:00 -0000

Are you looking for an awesome business opportunity in the real estate space and need some motivation to find it? Have you wondered how you can use your interest in real estate to generate additional income that you can then use to buy real estate? Or are you just looking for some motivation to start and grow a business that can generate millions of dollars per year?

Whatever your motivation, this episode is for you!

Steve Strauss -- founder of Sign Central -- figured out how he could build a 7-figure business helping real estate developers, agents and investors market their products. And at the same time, start building his own real estate portfolio. With nothing more than determination, dedication and LOTS of hard work, Steve was able to take a part-time side-hustle working for someone else, and grow a multi-faceted business that now serves some of the largest real estate developers in the country.

In this episode, Steve tells us how it took him a decade to go out on his own, but then how he went from side-hustle to big business over the course of just a few years. He tells us how building relationships has propelled his business success, and has helped him nab some of his largest clients. And how effective networking can be the difference between a stagnant business and one that starts to grow -- and keeps growing -- quickly!

Steve then talks about how he was able to take his company from 2 employees to 12 employees, virtually overnight. While it may seem like a daunting task, Steve provides the single biggest key to achieving this growth with minimal headache and minimum financial risk.

And make sure you listen to the end, where Steve talks about how he helped his community during Covid, but did so in a way that has brought him additional business and is likely to benefit him long into the future.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

Links from the Show

Link to the full show notes here: http://biggerpockets.com/bizshow74

Learn more about your ad choices. Visit megaphone.fm/adchoices

73: Building an 8-Figure Game Company in 3 Years With Chris Meade

Tue, 15 Sep 2020 06:00:00 -0000

Think you can’t come up with a million dollar (or TEN MILLION DOLLAR) idea sitting around with your buddies? Think you can’t build an 8-figure business and have a ton of fun doing it? Think you can’t build a business like this in less than three years?

Then this episode is for you!

Chris Meade -- twenty-something co-founder of the 8-figure game company Crossnet -- was a kid with a dream when he, his brother and a friend conceived of a new take on beach volleyball. With nothing more than a fun idea and some determination, they got prototypes designed, started selling individual games through viral marketing and are now on track to do over $15 MILLION in revenue in 2020.

In this advice-filled episode, Chris breaks down many of his companies processes in detail. He starts by giving a step-by-step plan for finding overseas manufacturers to prototype, build and package your product -- incredibly inexpensively! He tells us how to do it, how much it costs, how long it takes, and then provides some pro-tips to keep you from making some big mistakes -- and not getting taken advantage of -- in the process.

Chris then talks about how he and his partners were able to start selling the game using viral marketing techniques, social media, and their own sales funnels. From there, he goes on to provide some great advice for how to keep your product and marketing expenses low (including some tips on things that can be negotiated that you probably don’t realize).

Make sure you listen for the single most important skill an entrepreneur needs to be successful. Chris discusses how he used that skill to get sales, to get his product on the shelves of the national retail chain, Dick’s Sporting Goods, to get a partnership with one of the largest sporting manufacturers in the world, and ultimately to get a partnership with a professional volleyball league that will allow his company to grow and expand beyond imagination.

Check her out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/bizshow73

Learn more about your ad choices. Visit megaphone.fm/adchoices

72: Finding the Opportunity Through Business - Crushing COVID With Michelle Oppelt and Samantha Mooney

Tue, 08 Sep 2020 06:00:00 -0000

Ready for some solid motivation on moving forward and pushing through? Need a reminder of the passion that led you to start your business in the first place? Could you use a dose of inspiration from two business partners who clearly share the same goals and are committed to succeed together, no matter what obstacles they face? This episode delivers all that and more!

Michelle Oppelt and Samantha Mooney -- co-owners of Smartycat Kids and SmartyCatTV, have had a great run. Pouring tremendous amounts of faith into each other with a symbiotic relationship based on trust and tenacity, this dynamic duo spent over a decade developing, nurturing, and growing an engaging child education enrichment company serving hundreds of families.

Operating like a well-oiled machine and with a plan in place for extreme expansion, timing wasn’t exactly on their side. Simply stated, Covid brought business to a screeching halt. Faced with a seriously tough situation, Michelle and Samantha took a big step back, assessed the situation, then faced the harsh reality. Their brainchild couldn’t just pivot--it was time to completely reinvent.

In this episode, Michelle and Samantha give us great tips on using resources wisely, reaching out far and wide to find like-minded thinkers who can help us view things through a different lens. They give heartfelt advice on keeping your mission front and center to guide you through difficult choices. And they encourage us to not only accept change, but to fully embrace it, finding new opportunities to propel your entity to an entirely new place.

Check them out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/bizshow72

Learn more about your ad choices. Visit megaphone.fm/adchoices

71: Mastering Business Without Business School With Josh Kaufman

Tue, 01 Sep 2020 06:00:00 -0000

Have you ever wanted to get a business school education, but didn’t want to spend the tens of thousands of dollars -- and many years of your life -- going to business school?

Josh Kaufman -- author of the best-selling and foundational business book, “The Personal MBA” -- is here to talk about getting a business school education without having to ever set foot in college. Josh has just released his 10th Anniversary edition of his book, and provides a wealth of knowledge for entrepreneurs at any stage of their journey.

On today’s episode, we talk about everything from how to learn business to measuring the success of your business to creating the systems and processes necessary to keep your business humming along. In addition, Josh provides actionable tips on how to overcome some of the biggest struggles facing entrepreneurs and biggest owners.

Make sure you listen for Josh’s discussion of “akrasia” -- the idea that you know what you should be doing, and what is theoretically best for you, but often, you just can’t get yourself to do it. And then listen to Josh tell us exactly how we can overcome that roadblock and keep pushing forward.

And make sure you listen to the end, where Josh recommends the top 99 business books you should have on your reading list to really propel you and business to success.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/bizshow71

Learn more about your ad choices. Visit megaphone.fm/adchoices

70: Turning a Hobby Side Hustle Into a Full Fledged Family Business With Sabrina Rosenberg

Tue, 25 Aug 2020 06:00:00 -0000

Is family front and center in your life? Do you dream of the day you can truly put family first while generating income and creating a lasting legacy? Would working alongside your loved ones, building together, be the icing on the cake? With all the uncertainty we are all currently facing, there’s no better time than now!

Sabrina Rosenberg -- new owner/operator of A Childhood Store, a kid-focused company in its early stages of growth -- spent 15 years building other people’s businesses. Although a hefty salary, impressive awards for her accomplishments, and strong influence among staff members kept her going, the 16 hours a day, 7 days a week schedule left her missing out on what really mattered. In early 2020, enough was enough. She didn’t have a solid plan for what to do next, but was confident that her depth of experience in building systems and processes, utilizing her resources wisely, and digging deep to research, push forward, and problem solve would serve her well.

In this episode, Sabrina tells us about the steps she took to join forces with her incredibly creative sister, who started a kid-focused product company several years prior. Its eco-friendly, sustainable offerings drew the attention of Whole Foods -- and Sabrina’s knack for building businesses was exactly what was needed to take the company to the next level.

Sabrina provides us insight to a roadmap of steps she has taken, and that you can take as well, to start operating a side hustle like a real business. She shares incredibly valuable tips on entering into key distribution and wholesale channels. And best of all, she gives us some heartwarming inspiration about involving the entire family every step of the way.

Make sure you listen all the way through to the end for Sabrina’s simple yet powerful 3 words of advice for anyone in the early stages of building a business. Follow this advice and it’s impossible to NOT make progress.

Check her out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

Links from the Show

Check the Full Show Notes here: http://biggerpockets.com/bizshow70

Learn more about your ad choices. Visit megaphone.fm/adchoices

69: Accomplishing It All With Editor-In-Chief of Entrepreneur Magazine Jason Feifer

Tue, 18 Aug 2020 06:00:00 -0000

Were you simply born with a never-ending desire to do more and more? In spite of this, do you sometimes get in your own way, questioning your ability to make a real impact and get things done? Ever think, “Everyone else has this all figured out, why don’t I?,” overanalyzing and second-guessing yourself when presented with a new challenge?

NEWSFLASH: You’re Not Alone!

For years, Jason Feifer -- Editor-in-Chief of Entrepreneur Magazine, has been an influencer with leading entrepreneurs crushing it in their respective industries. And Jason is clearly crushing it himself as well. Programmed with nonstop motivation and ambition to move forward, make progress, and teach others, Jason also hosts THREE leading podcasts, writes for prominent media outlets, and inspires individuals, business owners and companies as a highly sought-after international keynote speaker.

In this episode, Jason talks about the power of solving unexpected problems, the importance of focus, dealing with “Imposter Syndrome,” and tells us the single best podcast (besides this one, of course!) that we should all be listening to in order to motivate us and jump-start our entrepreneurial dreams.

Make sure you listen to the end, where Jason reveals his unique take on when and how to create a personal brand.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

Check the full show notes here: http://biggerpockets.com/bizshow69

Learn more about your ad choices. Visit megaphone.fm/adchoices

68: "Buy Then Build" Your Business With Best-Selling Author Walker Deibel

Tue, 11 Aug 2020 06:00:00 -0000

Have you ever thought about buying a business? If so, today’s episode is for YOU!

Walker Deibel -- author of the best-selling “Buy Then Build” -- is here to talk about buying businesses. Not only was Walker’s book recognized as one of the top 7 books all entrepreneurs must read, but it’s currently being used in university MBA programs around the country.

In this episode, Walker walks us through why buying a business is better than building one from scratch (did you know that only 4% of companies ever exceed $1M in revenue?), why now is the perfect time to be looking for the right business to purchase and what type of businesses we should be considering buying.

We then jump into the process of buying a business, how to ensure that you’re adequately represented on your side of the deal, and what you should be doing TODAY to make progress towards buying your first -- or next -- business.

Make sure you listen to the end where Walker tells us the biggest mistake he sees entrepreneurs making, and the most important thing you should be doing the day you close on the purchase of your new business.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/bizshow68

Learn more about your ad choices. Visit megaphone.fm/adchoices

67: Thinking BIG and Raising $70 Million with Jay Reno

Tue, 04 Aug 2020 06:00:00 -0000

Have you ever thought about starting a BIG business? Ever wondered what the first steps were to raising tens of millions of dollars? Do you unintentionally impose limitations on what you think you can accomplish? Have you ever thought, “If I just had more money, I could take my idea to the next level!”?

If so, this episode is for you!

Jay Reno, founder of Feather, has thought BIG from the start. His entrepreneurial journey began with an idea a bit ahead of its time. When that venture didn’t work out so well, he took the lessons he learned to bootstrap a whole new concept.

Living in New York City and identifying with the trend of a new generation of people defining success through life experiences rather than being tied down to meaningless material possessions, Jay recognized an opportunity to put his degree in Climate & Environmental Sciences to work. With just a few thousand dollars and a ton of hard work and diligence, Jay quickly achieved proof of concept for Feather, a furniture rental company providing a flexible and sustainable alternative to ownership.

In this episode, Jay tells us about his amazing experience at Y Combinator, an incubator program where other leading companies like DoorDash, AirBNB, and Dropbox also got their start. He offers insight on the pros and cons of raising money vs. bootstrapping your way to success. (Yes, there actually IS heartache involved, even when investors have pumped 70 MILLION DOLLARS into your company.) And he provides awesome examples of taking risks, making bets, and positioning yourself to be lucky when the time is right.

Make sure you pay attention to Jay’s reminders about the common excuses potential entrepreneurs make that hold them back, to make sure you overcome and avoid standing in your own way of greatness.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

Links from the Show:

Check the full show notes here: http://biggerpockets.com/bizshow67

Learn more about your ad choices. Visit megaphone.fm/adchoices

66: Leveraging COVID and Other Timely Trends to Build Wealth With John Berlingieri

Tue, 28 Jul 2020 06:00:00 -0000

Are you looking for some motivation on how to make money during this pandemic?

If so, this episode is for you!

John Berlingieri -- serial entrepreneur and creator of The Sanitizing Station -- tells us about how he was able to go from idea to getting sales in two months on a $20,000 product aimed at helping to protect people from Covid infection. And how he was able to overcome all the complexities of doing so during the pandemic, while supply chains were shut down and in-person workers were scarce.

In this episode, John provides tons of great tips on everything from naming your business and products to getting publicity for your business to “faking it until you make it” when working on BIG ideas. John also discusses how to design, prototype and build FAST when getting to market quickly is the one of the most important aspects of success.

Make sure you listen for John’s amazing tip on what you should be reading to find lucrative business ideas, to keep up on business trends and to ensure that you beat your competition to market.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

How John started a manufacturing company at age 21
Adapting and finding opportunities right away
How he works with local companies and gives discounts to get sales
How he hires multiple virtual assistants for fast deployment
Why he reads lots of news
How he markets his products
From idea to a working product in less than two months
How they got their first customer
Cost for manufacturing machines
How they crafted the name of the company
How he pivoted and made quick decisions
How he obtained publicity
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow66

Learn more about your ad choices. Visit megaphone.fm/adchoices

65: From 14-Year-Old Entrepreneur to National Brand With Sean Pour

Tue, 21 Jul 2020 06:00:00 -0000

Do you think you’re too inexperienced to start a business? Do you think you don’t have the required education to be an entrepreneur? Do you think you don’t have the marketing chops to create a successful venture? Do you think you don’t have enough money to launch a million-dollar idea?

If so, this is the episode for you…

Sean Pour—founder of SellMax.com, a national used-car buying service—tells us about how he started his business at 14 years old, in attempt to help his parents keep their business afloat. What started out as an effort to help his family has, over the past 10 years, turned into a big business. Sean buys and sells thousands of cars per month all across the United States.

In this episode, Sean talks about getting started even before he had a high school education, how he taught himself the coding and marketing skills necessary to get the business off the ground, and how he was able to bootstrap the company without any capital. He also discusses how to build your network and find a great mentor without spending any money... and even potentially MAKING money in the process!

Listen for Sean’s amazing explanation about why too much education can actually hamper your likelihood for massive success and why those without a formal education often achieve much more.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

How Sean started a business in uncertain times
How he learned a lot more from running a business than from school
Sean's focus on affordability and starting on a budget
How he started this business at 14 years old
His #1 pieces of advice for those starting a business at a young age
How their business model achieves a 10-20% profit margin
Why he thinks marketing is the most important thing to a business
And SO much more!

Links from the Show

Link to the full show notes here: http://biggerpockets.com/bizshow65

Learn more about your ad choices. Visit megaphone.fm/adchoices

64: Building Your Brand and Getting to the Front of the Room with Erik Cabral

Tue, 14 Jul 2020 06:00:00 -0000

Do you long for the day you can leave your full-time job working for someone else? Ever think to yourself, “What if I take all this time and energy to build something for myself?!” Or are you exhausted just thinking about building a brand from scratch, starting at the bottom of the ladder and working your way up all over again?

If so, this is the episode for you…

Erik Cabral -- founder of creative agency On Air Brands and the entrepreneur experience PodMAX -- tells us all about his “a-ha moment” that led him to leave a stable, high-paying corporate career to begin his entrepreneurial adventure. He walks us through the early days reaching out to literally everyone he knew to get invited to networking events; and his journey to “the front of the room” as an influencer and revered expert in brand building. By adding value helping like-minded people build their own unique brands, he now has global reach working with clients to enhance their marketing, online presence, podcasts, and live streaming strategies.

In this episode, Erik talks about the importance of putting your ego aside, remaining consistent, and simply showing up to gain traction. He reminds us that the relationships we nurture through networking are front and center in any business. And he teaches his key principles in building a powerful brand, which he calls “The 4C’s” : Clarity, Community, Connection, and Collaboration.

Make sure you listen to the end, where Erik shares a great personal story that went viral around the globe. Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

The power of networking
How he found mentors
Working with Gary Vee's team for a live event
Why "Why?" is the most important question
His 4 C's: Clarity, Community, Connection, & Collaboration
How his podcast company works
How their business evolved by catering to the needs of the community
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/bizshow64

Learn more about your ad choices. Visit megaphone.fm/adchoices

63: Full-Time Firefighting While Building a Million-Dollar Business With Lance Korhorn

Tue, 07 Jul 2020 06:00:00 -0000

Do you feel like you don’t have the knowledge and experience to start your own business? Perhaps you're looking for a way to leverage your full-time job to find the right business opportunity? Or maybe you’re looking for ideas on how to create a grassroots marketing and branding effort without a lot of out-of-pocket costs?

If so, this is the episode for you…

Lance Korhorn—full-time firefighter and entrepreneur—walks us through how he was able to start Ladder 34, a business focused on recycling old fire hoses that were destined for the dump. Not only was he able to save tons of waste from the landfill, but he has recycled that “trash” into financial and philanthropic treasure.

In this episode, Lance talks about how every fire hose is a story and how he has been able to build a business around preserving those stories—turning old hoses into belts, wallets, mats, and other items that delight customers and carry on the legacy of the lifesaving equipment. And not only is this a business supporting Lance and his family, but it's also supporting firehouses and firefighters around the country who are putting their lives on the line every day.

Lance tells us how he came up with the idea for the business, how he struggled to create his first prototypes, and how he’s had to learn how to start, build, and grow a business every step of the way through trial and error.

Make sure you listen to the end, where Lance reveals the power of storytelling, and how it’s helped grow Ladder $34 million-dollar business.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

How he built a store with a simple step-by-step process
How he threw out products just to see how they're received
How he built his team and started outsourcing advertising
How he gets 80-90% profit on many products
How to work with family members
How they financed their business
How he segments his time
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow63

Learn more about your ad choices. Visit megaphone.fm/adchoices

62: Building a Massively Profitable Business Around Your Passions With Alex French

Tue, 30 Jun 2020 06:00:00 -0000

Are you looking to build a business around something you love and are passionate about? Do you want to ensure that the business you’re working on has massive profit potential? Are you concerned that you don’t know how to do both of these things simultaneously?

Today’s guest tells us how he was able to blend his passion with massive profits... and how we can, as well!

Alex French—co-founder of Bizzy Coffee, the most popular cold-brew coffee brand sold through Amazon and retailers—knows firsthand how important it is to do something you love while also ensuring that there is market demand for your business. On this episode, he teaches us how we can identify which of our passions can be scaled into a profitable enterprise and how to validate our ideas quickly and inexpensively using Google.

Alex also tells us how we can use influencers to get feedback on our business ideas and how they can spread the word to potential customers, too. Finally, he walks us through the basics of selling on Amazon, including how to use the platform to dominate in your product category.

Make sure you listen for Alex’s powerful tip—one that cost his investors over $1M to learn—on what to do when you find your business veering off-course.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

How he used Google Trends to find a great product idea
How he does market research
What led to choosing cold brew coffee
How he tests his ideas very inexpensively and very quickly
How he got big influencers to promote his brand new product
Develop their product step by step
How a rejection led him to selling on Amazon
Learn about where they are now and what's next for their company
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow62

Learn more about your ad choices. Visit megaphone.fm/adchoices

61: Launching a Hands-Off 'Cash Cow' Business With Less Than $100K, Step by Step With Ashley Kehr

Tue, 23 Jun 2020 06:00:00 -0000

Have you ever thought about creating a brick-and-mortar retail operation from scratch? Ever wonder what hoops you have to jump through to get a liquor license and launch a business selling alcohol? Ever wonder how to do consumer research before opening a local store?

Ashley Kehr—real estate investor, entrepreneur, and co-host of BiggerPockets' Real Estate Rookie Podcast—is in the process of building and launching a local liquor store, and she shares with us her step-by-step plan. In this episode, Ashley tells us how she found and hired an expert consultant, how she applied for and got a state liquor license, and how she was able to purchase the real estate and design it for her business.

And she did it with a whole lot less cash than you might expect!

Ashley provides a ton of great tips for any budding entrepreneurs looking to take that next step toward creating their own business. She talks about the value of networking, asking the right people the right questions, and the biggest roadblock that many of us need to overcome to get started. And make sure you listen for Ashley’s amazing tips on how to advertise your local business, as well.

Check her out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

Using an industry expert to navigate licensing
Leveraging your network to market through word of mouth
Buying the real estate your business will use
How Ashley's setting up her network of alcohol distributors
How to succeed in a new industry by "asking the right people the right questions"
Setting up a business that will run on autopilot!
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow61

Learn more about your ad choices. Visit megaphone.fm/adchoices

60: Turning Your Passion Into a Scalable Business With Tammeca Rochester

Tue, 16 Jun 2020 06:00:00 -0000

On today's show, learn how to identify a personal passion and/or need, combine it with your professional skillset, and launch a business that energizes you and your community.

Tammeca Rochester sits down with J and Carol to reveal the story behind Harlem's first and only indoor cycling studio, Harlem Cycle.

From the genesis of her idea, to hiring contractors and renting space, to her pricing strategy focused on "packages and commitments," Tammeca shares a ton of great tips for anyone looking to bootstrap any type of business today.

Download this one, and be sure to subscribe to the BiggerPockets Business Podcast so you won't miss us next week!

In This Episode We Cover:

Tammeca's concise "elevator pitch" for her business
Launching a side business as a parent with a full-time job
Writing down her business plan right at the start
Negotiating a commercial lease
Working with designers to shape the look and feel of her studio
Putting the consumer's desires front and center from the beginning
Getting rejected for a business loan
Why free giveaways don't convert into paying customers
Connecting entrepreneurship with family ("It's OK to bring your kids to work!")
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow60

Learn more about your ad choices. Visit megaphone.fm/adchoices

59: A Sweet Deal: Buying a Chocolate Company With No Money Out of Pocket With Ryan Novak

Tue, 09 Jun 2020 06:00:00 -0000

Have you ever thought about taking over an existing business? Would you like to purchase a business with no money out of your pocket? Have you ever considered what it would take to expand a local business nationally?

All these questions—and more—are answered on this week’s podcast.

Ryan Novak, owner of ChocolatePizza.com, graduated college and then went back to buy the small, local chocolate shop that he had worked in since he was 14 years old. He negotiated a no-money-down deal that left him as the sole owner of the shop—and an opportunity to grow the brand nationally.

Using the power of the internet, Ryan has grown ChocolatePizza.com to a seven-figure company, shipping chocolate treats and gifts all around the United States. And at the same time, he has grown that local shop into a successful business in and of itself.

On this episode, Ryan talks about how he acquired Chocolate Pizza, how he used what he learned in business school to grow and expand with over a dozen employees, and how he is now using the circumstances of the coronavirus pandemic to extend his brand even further. He tells us how he’s evolved his product offering to surprise and delight his customers and get people talking about the company to expand his reach.

In addition, Ryan tells us how he’s giving back to his community. And specifically how he is using a local mentorship program he’s created to build a win/win for his business—hiring local high-school students to train them in business, while at the same time getting the benefit of low-cost employees, who are excited to learn and work.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

The unique real estate strategy of lending and pitching to developers
How the recession helped him become an entrepreneur
How he developed a plan for a hotel restoration
How he focused on building a franchise prototype
How he coined the company's core values
How he communicates the core values during the hiring process
How he created a syndication that is more than just about real estate
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow59

Learn more about your ad choices. Visit megaphone.fm/adchoices

58: Elevating Your Business & Investments in 3 Words With Josh McCallen

Tue, 02 Jun 2020 06:00:00 -0000

What differentiates good businesses from great businesses? What is that thing that keeps your customers coming back time after time? How do you ensure that your product or service really stands out from your competitors?

More times than not, it’s providing an amazing customer experience.

In fact, today’s guest has built his eight-figure business on this principle alone. And he tells us how we can do the same in our business.

Josh McCallen—entrepreneur, investor, and business owner—has built his reputation as a luxury resort developer. Over the past decade, he and his investment team have bought, renovated, and turned around several high-end resorts. His key to success is always the same: implementing a customer experience that is second to none.

On this episode, Josh tells us how he got started in both business and real estate, as well as when he first recognized the value—and necessity—of defining a world-class experience brand for his resorts. He also shares the three core values that rule over the experience he creates, how he implements those values in his business, and how you can do the same in yours.

And make sure you listen through the "Four More" segment at the end to learn about the biggest mistake Josh made (and many people make) when buying a business and how it led him to failure in his first business purchase.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

His unique real estate strategy of lending and pitching to developers
How the recession helped him become an entrepreneur
How he developed a plan for a hotel restoration
How he focused on building a franchise prototype
How he coined the company's core values
How he communicates their core values during the hiring process
How he created a syndication that is more than just about real estate
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow58

Learn more about your ad choices. Visit megaphone.fm/adchoices

57: Negotiating with Joe Exotic and Buying "Tiger King" Merchandising Rights with Tim Shiner

Tue, 26 May 2020 06:00:00 -0000

We've all heard the adage about the importance of multiple streams of income. Today's guest takes that idea to a whole new level...

From patents to books to real estate to businesses to licensing royalties, Tim Shiner is truly an investing and business Renaissance Man. And his most recent project is his biggest yet!

On this episode, Tim tells us about how—as a "professional opportunist"—he has created dozens of income streams, how he manages his time to juggle all these projects, and most importantly, how you can start identifying opportunities in your life to do the same.

Then we delve into Tim's latest project: He has purchased the exclusive rights to license dozens of products related to the "Tiger King" and Joe Exotic brands, sensationalized by the Netflix mini-series over the past several months.

Tim tells us about how he hooked up with Joe Exotic's lawyers to negotiate the deal and how he's working with some of the biggest marketing companies in the world to monetize it.

Make sure you listen to Tim's story about how he acquired the largest bus in the world, wrapped it in a controversial design, and drove it from Texas to Washington, D.C., to promote the brand!

Are you looking for some inspiration for tackling big projects that might be a little bit out of your comfort zone? If so, this episode is for you!

Check it out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

How Tim came to own the marketing rights to the hit Neflix show "Tiger King" and its star Joe Exotic
Building dozens of revenue streams
Becoming a "professional opportunist"
Why Tim believes money equals freedom
His unique real estate investing strategy
The tax advantages of having a side business
Inventing a beer koozie and making royalties
The struggles—and benefits—of working with partners
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow57

Learn more about your ad choices. Visit megaphone.fm/adchoices

56: From Poverty to Millions Through Laundromats with Dave Menz

Tue, 19 May 2020 06:00:00 -0000

If you've found this show, you probably have that entrepreneurial itch... and you've probably wrestled with just how to turn that impulse into action.

Well, that transition is exactly what today's show is about... so don't miss it.

Our guest Dave Menz shares his journey from poverty, to a corporate career, to taking the plunge into business and turning a struggling laundromat into a cash-flowing asset producing generational wealth (then scaling up).

And Dave pulled this off with no formal business training!

As he says in the episode, "If you want to see me accomplish something, tell me I can't do it."

Tell us what you think in a rating or review on Apple Podcasts (it takes just 30 seconds), and subscribe to the BiggerPockets Business Podcast in your favorite podcast app so you won't miss the next one.

In This Episode We Cover:

Overcoming "programming" from parents and school and choosing a different path
Why Dave left his corporate career to start a business
Why "the process" is more important than "the product"
How he decided on laundromats
How he negotiated the purchase of his first laundromat
Writing a business plan and getting an SBA loan
Starting a business while working full-time
How he improved laundromat operations to become profitable
Scaling up and acquiring additional laundromats
Creating synergy among his businesses
Relentlessly focusing on serving his community
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow56

Learn more about your ad choices. Visit megaphone.fm/adchoices

55: Moving Your Competition Out of the Way While Spending Nothing on Marketing with Ryan Welch

Tue, 12 May 2020 06:00:00 -0000

Are you looking for ways to increase your profitability while spending less on marketing and customer acquisition? Are you running a business where differentiating yourself from the competition is downright difficult? Do you feel like the only way to build your brand and business is to spend ridiculous sums of money on marketing and advertising?

If so, this episode is for you!

Ryan Welch—of Breezy Moving—is not a professional marketer or advertising guru. But he has used his expertise in creating relationships and focusing on his customers' needs (and their customers' needs) to generate more business than he can handle in the ultra-competitive moving industry. And he's done it all without spending a penny on marketing or advertising!

Ryan shares his business secrets—including a deep dive into the financials and tips to become more competitive without spending a fortune on marketing. He tells us how he researches competitors and prices his services for maximum profit.

He goes on to explain that no matter what your business is, expanding and fostering relationships is going to be one of the best ways to lower your customer acquisition costs, expand your customer reach, and grow your margins and bottom line.

And make sure you listen to Ryan’s thoughts on how to hire and manage employees in an industry where there is a lot of turnover, as well as where first impressions matter most.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

How Breezy Moving was born
How they've managed to get Realtor referrals
How Ryan markets by building relationships
Why logistics and delivery services are not going away
How they price their services
Calling competitors as market research
How their margins are better because they don’t spend a lot on marketing
His thoughts on expanding
How he keeps good employees
Moving horror stories
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow55

Learn more about your ad choices. Visit megaphone.fm/adchoices

54: $4M in Revenue in 6 Months Through Software & Licensing with Brennan Tolman & Nik Krohn

Tue, 05 May 2020 06:00:00 -0000

Have you figured out a good business model that is consistently making money but don’t know how to expand? Itching to take your local business national? Ready to put your business on auto-pilot, generating recurring income while others do the work? If so, this episode is for you!

Brennan Tolman and Nik Krohn—founders of Tolman Media—were in that same boat just a couple years ago. They had grown their local wedding photography business in Salt Lake City and were ready to expand. But they quickly decided that owning locations around the country or franchising the business wasn’t for them—too much work, too much red tape.

So, they figured out an even better plan, creating an online marketplace and licensing the business to dozens of other entrepreneurs.

On this episode, Brennan and Nik walk us through the process they used to scale their business and then license it all around the country—and around the world. The two were able to generate over $4M in revenue in just six months by letting others do the bulk of the work—while they simply collected the royalties.

Whether you’ve already explored the idea of licensing your product or business, or you’re looking for a new tool to add to your business toolbag, Brennan and Nik walk you step by step through the process of taking your business to the next level. And making LOTS of money in the process!

Make sure you stick around to the end, where Brennan and Nik tell us the single most important metric to the success of your business.

Check them out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

How Brennan and Nik met and started their business
How they solved a problem for photographers
How they solved scheduling, improved earning, and added scores in their booking app
How they made changes in their system
The hard decision they had to make
How they managed to expand internationally
How they brought in entrepreneurs and went the licensing route
Franchising versus licensing
How they've set partner expectations
How business comes down to one metric: cost per acquisition
And SO much more!

Links from the Show

You can check the full show notes here: http://biggerpockets.com/bizshow54

Learn more about your ad choices. Visit megaphone.fm/adchoices

53: Fixing All Your Business Problems, One at a Time with Mike Michalowicz

Tue, 28 Apr 2020 06:00:00 -0000

Are you overwhelmed with all the things you’re falling behind on in your business? Not sure what to do next? Have you been taught to believe that as business owners, we need to tackle all of our business issues at once?

Well, it doesn’t have to be that way!

Michael Michalowicz—author six books, including the newly released Fix This Next—knows firsthand what it’s like to struggle with too much to do and not enough time to do it. And on this episode, he teaches how we can evaluate and prioritize the issues in our business—and also how to FIX THEM!

Mike starts with an overview of why identifying the biggest obstacles in your business is important and why so many entrepreneurs make the mistake of trying to solve too many issues at once. From there, he reveals the business hierarchy of needs—the five parts of our business that we must in order to truly put our business on autopilot and create a legacy that can be handed down. Then, he tells us how to identify the biggest obstacle in our business, and the methodology of how we can solve that problem before moving on to the next.

The formula is simple, even if it’s not obvious. But Mike breaks it down step by step so that even the most frantic among us will be able to use it to get our business under control and relieve our daily headaches. He helps us realize that the biggest challenge that most of us face as entrepreneurs is figuring out what our biggest challenge is—and then helps us do that!

And make sure you listen for Mike’s explanation of “the double helix” while helping business owner Carol solve the biggest business challenge she’s facing today.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

The biggest challenge entrepreneurs have
Maslow’s Hierarchy of Needs for business
What Survival Trap is
OMEN (Objective, Measurement, Evaluation Frequency and Nurture)
Why sale is not complete until delivery of the service.
Actual Case Studies
Two stages of Business: Get Stage and Give Stage
How to make employees act like owners
And SO much more!

Links from the Show

Check the full show notes: http://biggerpockets.com/bizshow53

Learn more about your ad choices. Visit megaphone.fm/adchoices

52: Murder Scenes, Meth Labs, and 27 Franchises with Laura Spaulding

Tue, 21 Apr 2020 06:00:00 -0000

Not happy in your current career? Looking to do something entrepreneurial but don’t know where to start? Well, maybe this is the inspiration you need to build something HUGE!

Laura Spaulding is a former police officer who was ready to forge her own future. Using the experience, knowledge, and insight she got working undercover, she decided to start her own business focused on cleaning up crime scenes, meth houses, and a host of other environmental hazards that many of us don’t have the stomach for.

Laura walks us through how she decided on her business path, how she financed it, and how she came to realize that the real opportunity was in expanding it through franchising. But it hasn’t all been rainbows and teddy bears—franchising created a whole host of challenges that Laura had to tackle in order to continue to grow and expand her business.

And grow her business she's done! Entrepreneur Magazine recently ranked Laura's company as one of the top 10 new franchises, and Spaulding Decon has been at the forefront of the coronavirus cleanup across the U.S. over the past six weeks.

If you’ve ever thought about creating your own franchise system from the ground up, this is the episode for you. Laura tells us how it’s done, how NOT to do it, how much to expect to pay, and all the good and bad that come with expanding your business nationwide.

If you have a strong stomach, make sure you listen to the end, when Laura tells us some of her favorite crime scene cleanup stories...

Check her out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

How she went from being a beat cop to cleaning crime scenes
How she funded and started her business
How she drives house to house to get leads
How her first hires were stay-at-home moms
How she got into franchising
The lesson she learned from hiring a consultant
Entrepreneur vs. franpreneur
Why brand culture matters
The common misconception in franchising
The biggest reason franchisees fail
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow52

Learn more about your ad choices. Visit megaphone.fm/adchoices

51: Business Opportunity Is Knocking… Answer the Door! With Nigel Guisinger

Tue, 14 Apr 2020 06:00:00 -0000

This show is a wake-up call for young and hungry entrepreneurs.

The main message: there is a massive wealth transfer underway in this country. An entire generation of business owners is reaching retirement age, and most don't have a clear succession plan in place.

So... who takes over these successful businesses?

Why not YOU?

That's the topic of today's show with Nigel Guisinger, an Oregon-based real estate investor who's also owned an appliance store, a glass company, and a laundromat among other ventures.

In this episode, you'll learn how to identify business owners who are part of this big shift (think "Millionaire Next Door" types). You'll learn how to approach them and open a conversation about succession plans. AND you'll hear Nigel's tips for buying businesses using seller financing—an effective strategy he's personally used to great effect.

You'll love how passionate Nigel is when it comes to the opportunities available to hungry investors—and the real-world stories he tells to bring these concepts to life. So listen to this episode, then identify a local business you could see yourself taking over someday soon.

Don't forget to subscribe to the BiggerPockets Business Podcast so you won't miss the next episode... and we'll see you next Tuesday!

In This Episode We Cover:

How to buy a business
Nigel's "the weak zebra" business strategy
The 3 things you can negotiate
Why he thinks there is so much opportunity right now
The first thing to check when buying a business
What it means to have a succession plan in your business
What he means by not leaving behind a single business
How to make sellers become partners
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow51

Learn more about your ad choices. Visit megaphone.fm/adchoices

50: The Disaster Loans That Could Save Your Business -- and Why You Should Apply Now with Angela Venti and Mike Regina

Tue, 07 Apr 2020 06:00:00 -0000

Today: Everything you need to know to get YOUR slice of $349B in emergency small business loans.

You'll learn which SBA disaster loans are available now, what the terms are, and -- most importantly -- how to apply ASAP.

Yes, there's a lot of money out there for businesses hurt by coronavirus. But the rollout of these programs has been messy and chaotic. Banks aren't used to lending so much money, so fast... with such little due diligence.

So it's crucial to know what you're doing when you apply.

Our guest Angela Venti is Director of Practice Growth at the accounting firm Alloy Silverstein. Toward the end of the episode we also speak to one of Angela's clients, Mike Regina, the co-owner of a construction management firm that has applied for these loans.

NOTE: This show was recorded on Friday, April 3. We're doing our best to make sure it's up-to-date but guidelines are changing in real-time. As always, work with a professional who can give you professional advice for your situation.

Let us know if enjoyed this episode of the BiggerPockets Business Podcast, and be sure to check out the rest of the podcasts on the BiggerPockets network. Just search "BiggerPockets" on your favorite podcast app.

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49: Coronavirus: Rising to the Challenge for Social Good with Stephanie Howard

Tue, 31 Mar 2020 06:00:00 -0000

During this unprecedented, uncertain time, here's a CHALLENGE for us all to collaborate for social good TOGETHER.

What are others doing during this difficult time to help their communities? What can YOU be doing to make a difference today?

On this episode, Stephanie Howard—owner of How and Why—joins us today from her industrial design studio. As an international award-winning designer of wearables for companies such as Nike, New Balance, and Reebok, Stephanie started her own firm nearly a decade ago. She previously led the innovation team at Seventh Generation, a company lauded for its focus on sustainability. Her work taps into connecting a large network to design mission-based products—and the current global health crisis is no exception.

Stephanie tells us how a family health scare thrust her into the world of caring for a loved one at home. These days, in the midst of COVID-19, her work has been reprioritized to lead a design challenge that each and every one of us can participate in to help others in the unfortunate event that we are faced with a similar circumstance.

Huge corporations such as 3M, Nike, Tesla, and many more are making headlines for retooling and repurposing their operations to provide PPEs (personal protective equipment) to hospitals—but each of us individually, as family members, as community leaders, has the power to make an impact. As entrepreneurs and small business owners, we are innovative, resourceful problem solvers. Learn how YOU can put your expertise to use during this time of uncertainty.

In This Episode We Cover:

The triad of product design
How she helps companies with their innovation planning
How macro trends differ from seasonal or fashion trends
How design has the power to move people
How to keep long-term relationships with clients
How she started a DIY face shield design movement
How anyone can help
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow49

Learn more about your ad choices. Visit megaphone.fm/adchoices

48: Shuttered, But Still Writing Checks to 100+ Employees: the View from the #1 College Bar with Bret Oliverio

Tue, 24 Mar 2020 06:00:00 -0000

On today's episode -- a "bad business decision" that simply had to be made... and a microcosm of what's happening to small businesses across the country right now.

Bret Oliverio—owner of Sup Dogs, voted the #1 college bar in the country in a Barstool Sports poll, had a bittersweet start in the restaurant business, committed to carrying on his brother’s legacy.

With absolutely no experience in the space, he and his wife worked tirelessly to build a thriving business employing 120 people, encompassing two locations, and generating millions in annual revenue.

Leading into the busiest season of the year, Sup Dogs was thriving. And it continued to thrive leading right up into St. Patrick’s Day weekend.

Then the coronavirus health crisis hit... and although it was a tough decision from a business standpoint, Bret was proactive in closing his two locations, using his influence in the community to encourage college students to stay put -- all while providing paychecks for his large team.

It hasn’t been easy, but he’s doing everything he can to maintain relationships, continue building his brand, and encourage others that with each passing day, we’re one day closer to this crisis ending.

Make sure you listen to the end, when Bret shares hope and optimism around the opportunities that these difficult times will inevitably bring.

In this very raw, real episode, he shares what we as family members, as business owners, as community leaders, need to be doing right now as we make our way day to day and look toward the future.

In This Episode We Cover:

How Bret started to operate a restaurant business with zero knowledge
How asking dumb questions made him better in his business
How to separate your brand from other businesses
How the COVID-19 pandemic has affected their business
How they're managing closing for two weeks
How putting aside ego can help you make ends meet
And SO much more!

Links from the Show

BiggerPockets

Check the full show notes here: https://www.biggerpockets.com/bizshow48

Learn more about your ad choices. Visit megaphone.fm/adchoices

47: Coronavirus: Business Strategies to Adapt, Dangers to Heed, and Opportunities to Watch for With Andrew Sherman

Tue, 17 Mar 2020 06:00:00 -0000

COVID-19 has presented challenges for all of us—not the least of whom are those who own a business or are in the process of starting, growing, or scaling a business.

In order to provide as much support and insight to our listeners as possible, we recorded this episode yesterday with Andrew Sherman, a prominent Washington, D.C. attorney, business school professor, and author of 26 books on every aspect of business.

Andrew shares his thoughts on where the economy goes next (will this economic event be "V-shaped" or "U-shaped"?), what business owners can do TODAY to best navigate the crises, and the crucial importance of risk management and emergency preparedness.

Don't own a business quite yet? There's still value here: Andrew outlines questions to think through if you plan to start a new venture this year AND shares what he believes to be the opportunities that are likely to arise over the next several months and years.

We hope you enjoy this episode of the BiggerPockets Business Podcast. If you do, we encourage you to share it with a friend or family member. Stay safe, and we'll see you next week.

In This Episode We Cover:

Where the economy might head next
Potential government interventions
How Andrew's clients are grappling with cash flow problems
Creative solutions in times of low customer demand
Where to turn for financing during an economic downturn
Which companies and industries have the most cash to deploy today
Creating an emergency fund to prepare for "black swan" events
Why this event is likely to create many entrepreneurs
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow47

Learn more about your ad choices. Visit megaphone.fm/adchoices

46: From Flea Filled Trailer to Flipper to Master Franchiser with Logan Hand

Tue, 10 Mar 2020 06:00:00 -0000

Do you feel like you’re too young to take on huge business challenges? Are you trying to figure out the best way to break into entrepreneurship but want the support of a big team behind you? Have you considered franchising but are looking for something a little bit bigger—that also won’t break the bank?

After this episode, you will find that you have a whole new perspective on what’s possible with scaling up a built-for-you system.

Logan Hand—master franchise developer for the new restaurant concept Mahana Fresh—learned at a young age that not only was it possible to break into franchising in a big way, but it could be done without a ton of cash in his bank account.

In this episode, he teaches us how he went from real estate wholesaler and house flipper to running a four-county, 30-franchise development for an up-and-coming restaurant brand. And he explains the ins and outs of this little-known franchising concept called master franchising or area franchise development.

Logan recounts his days of hustling to generate sales commissions and wholesaling fees. He came to realize, at the young age of 27, that building a business that could generate passive income—and eventually be sold—was the better path. He talks about how he decided to go the franchise route, buying a franchise that he could own and operate himself. Then, he realized that he could do the exact same thing—but on a much bigger scale.

If you’ve heard of franchising and want to learn more, or if you’ve considered franchising but want to learn how to do it bigger and better, this is the episode for you. Logan tells us how we should be evaluating franchises, how we can get money to buy one (or 30), and who that one person is who can provide you the support you need to make the right decision when it comes to buying into a franchise.

Make sure you listen to the end, when Logan provides some amazing tips for all the young entrepreneurs out there looking to get—and stay—motivated!

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

How he got into franchising
The parallels between real estate and franchising
Signing a franchise disclosure document
How he recruits new franchisees
Why location is important
How investment cost is based on a price per person in the area
How to work with franchise brokers
Why there's more risk in franchising than real estate
His tips for underwriting
Why you shouldn't buy into a fad or trend
Why he keeps close proximity to great people
And SO much more!

Links from the Show

BiggerPockets

Check the full show notes here: http://biggerpockets.com/bizshow46

Learn more about your ad choices. Visit megaphone.fm/adchoices

45: From Scrubbing Toilets to a $4M Business on Autopilot with Michelle Reed-Spitzer

Tue, 03 Mar 2020 07:00:00 -0000

Do you dream of the day you can be your own boss? Wish you could generate full-time income from your side hustle passion project? Or do you have a small business that you want to expand to something BIG, while simultaneously allowing you the time and financial freedom you crave? Becoming a franchise owner can be an effective path to make that happen!

Michelle Reed-Spitzer, owner of SIX MaidPro franchises, including the No. 1 MaidPro franchise in existence—runs her team from one central location. Meanwhile she has the freedom to travel, spend time on her boat, and zip around the Gulf Coast of sunny Florida in her shiny red convertible.

In this episode, Michelle teaches us what a successful franchise model has done for her in terms of scaling a business to the next level.

She tells us the story of her early days working hard cleaning houses, building up a client base, and hiring a few people to help. After "secret shopping" some new competition in town, she ultimately became a franchisee of that company, paying an initial franchise fee of just ONE DOLLAR since she brought an already-successful business to the table. Implementing MaidPro’s training, systems, and processes, she has mastered the formula to grow and expand with the help of an exceptional team.

Whether you’ve already explored the concept of franchising or know nothing about it, Michelle shares her expertise with one actionable tip after another. She fills us in on how franchises work, recommends items to think about before making the leap, and discusses the advantages—as well as potential pitfalls to avoid. And perhaps most importantly, Michelle is living proof that with hard work, focus, and determination, ordinary people can do extraordinary things.

Check her out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

Why you should surround yourself with the right people
How to "secret shop" your competition
How franchises work
What Right of First Refusal means
Finding the right location for your franchise
Finding your passion and figuring out the lifestyle you want
The importance of focusing on recurring revenue streams
How to do due diligence on the other franchisees
And SO much more!

Links from the Show

Chuck E. Cheese

Check the full show notes here: http://biggerpockets.com/bizshow45

Learn more about your ad choices. Visit megaphone.fm/adchoices

44: The Most Effective Marketing Technique You’re Probably Ignoring in Your Business with John Ruhlin

Tue, 25 Feb 2020 07:00:00 -0000

Have you considered that there may be a marketing channel for your business that you’ve never taken advantage of? One that could literally provide dozens—or hundreds—of times return on the cost of it? You may not have put much thought into it before, but after this episode, you will!

John Ruhlin—author of the bestselling book Giftology—knows firsthand the value of giving gifts as a way to build both your network and your bottom line. And on this episode, John gives us all the ins and outs of giving gifts in a way that will not only surprise and delight the recipients of those gifts but also catapult the success of your business in the process.

John tells us his story of how—by strategically spending $10,000—he was able to create and foster a relationship that has made him and his business well into the seven-figures. And how with much lower amounts than that, you can generate the same value for your business, as well.

John tells us why giving gifts in the business world is important; who we should be giving gifts to (hint: it’s not who you think!); which types of gifts we should—and SHOULDN’T—be giving to achieve maximum impact; and how often we should be giving gifts to achieve the best results.

Most importantly, John explains why most of the gifts we often give to our clients, vendors, colleagues, and potential partners are not just failing to help us foster those relationships but are actually HURTING our relationships!

And make sure you listen for John’s tip on how to give the most impactful gifts for the lowest cost: It’s all about picking the right categories.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

Why it's all about building relationships
The impact of giving at unexpected times
Why you should start sending handwritten notes
How to choose a gift that your recipient would appreciate
His Cameron Herold story
How to ask for something by offering value first
Why a good gift doesn’t make up for a bad service offering
How often you should send gifts
How to handle gatekeepers
The risks of gift giving
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow44

Learn more about your ad choices. Visit megaphone.fm/adchoices

43: Financial Freedom Through Multiple Streams of Income with Yaro Starak

Tue, 18 Feb 2020 07:00:00 -0000

Do you value freedom and time above all else? Are you craving a lifestyle doing what’s truly most important to you, while financially supporting yourself, your family, your hobbies, and your adventures?

Today’s guest has done just that, paving his own way and achieving freedom on many levels: financial, time, and mental. He’s taught thousands of people how to do the same. Today, he shares how you can do it, too!

Yaro Starak—an online entrepreneur earning a full-time income from the internet since 2004—walks us through his evolution of multiple businesses, identifying potential opportunities, and taking steps with minimal risk to start additional ventures. He debunks myths about passive income and digs deeply into the “how” of making a “laptop lifestyle” work.

Yaro gives actionable tips to identify areas in which you’re an expert, then use that expertise to earn income by sharing that information with others. He tells us the lessons he’s learned along the way: from early goals of simply making money to intentional, conscious decisions to do something you love to working with people you really enjoy.

And make sure you listen for Yaro’s recommendation on how to fast-track learning the ins and outs of a business you’re passionate about, closing your gaps in knowledge, and increasing awareness of how everything works before wasting time and energy charging full-speed ahead.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

How he built his "lifestyle business"
Focusing on starting a 4-hour work week business
Why entrepreneurs are always looking for opportunities
The 3 different types of freedom
Figuring out how business works
Why freelancing is a good starting point
How he's able to manage his business
His whole process in selling his courses and how you can do the same
How to be good at the 80/20 rule
The theory of constraints and sprints
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow43

Learn more about your ad choices. Visit megaphone.fm/adchoices

42: Building a Business You Can Sell for Top Dollar with David Barnett

Tue, 11 Feb 2020 07:00:00 -0000

Have you ever wondered how businesses are bought and sold? Or have you considered buying a business but don’t know where to start? Or maybe you've considered selling a business—or are starting a business that you’re hoping to sell at some point in the future.

Buying and selling a business seems complicated... but it doesn’t have to be that way!

David Barnett, business broker and author of six books including How to Sell My Own Business, knows firsthand how important it is that you build, structure, and manage a business in a way that will allow you to eventually sell it—even if that’s not your plan A. In this episode, he tells us why sometimes we have to sell even if we don’t expect to and how we can be certain to get top dollar if and when that time comes.

In addition, David helps us understand how businesses are valued, the most common reasons why business owners sell, the types of terms that can be negotiated when buying or selling a business, and why most businesses sell for less than you’d think.

And make sure you listen for David’s advice on how to handle situations where a seller is telling you one thing, but his financial statements are telling you another.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

The difference between business broker and real estate broker
Why the business marketplace is a secret
How business brokers work with buyers to get financing
How brokers are often dual agents
Some of the online marketplaces for business sales
Why businesses sell for a lot less than you think
The reasons people sell their businesses
How the value of a business depends on cash flow
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow42

Learn more about your ad choices. Visit megaphone.fm/adchoices

41: Outsourcing Your Way to Millions with Nathan Hirsch of Outsource School

Tue, 04 Feb 2020 07:00:00 -0000

Intrigued by the concept of virtual assistants? Understandably so—the time commitment and expense of office space and in-house employees can be intimidating. Luckily, there are alternatives…

Nathan Hirsch—serial entrepreneur and outsourcing expert—knows firsthand how difficult it can be to manage an office with lots of employees. And not only did he figure out a way to avoid it, he’s built several companies to help others do it, as well.

As founder of his previous company FreeeUp.com, Nathan created a marketplace of remote workers and virtual assistants to help entrepreneurs grow their businesses without the need for local employees. And as a follow-up, Nathan has created OutsourceSchool.com, an educational platform where business owners can learn how to manage their businesses efficiently and effectively by using remote employees.

In this episode, Nathan brings his expertise in outsourcing to our listeners, providing tons of actionable tips and ideas for how we can build our businesses without the overhead of office space and local employees. Nathan tells us how he built his Amazon store to over $25M in gross revenue and how he built and sold FreeeUp without a staff of local employees—only hiring remote help. He shares how we can do the same.

Make sure you listen for Nathan’s four-step process for harnessing the power of remote employees.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

Why he treats his remote team like they're in a real office
How he built another freelancer marketplace to cater to his needs
How he makes customer service his competitive advantage
Why he may never hire someone in person again
The 4-step process to dealing with remote employees
How to get on the same page with expectations
The traits of virtual assistants that you want to look for
Why Nathan prefers to outsource in the Philippines
3 different levels of people you hire: followers, doers, and experts
The 90-day rule
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow41

Learn more about your ad choices. Visit megaphone.fm/adchoices

40: Buying and Growing a Small Business With Little to No Risk With Brit Foshee

Tue, 28 Jan 2020 07:00:00 -0000

Have you ever considered buying a business but were terrified of paying more than the business is worth? Have you ever wondered what you can do to help ensure that a business you buy today will generate the numbers promised by the previous owner?

Well, today’s guest answers both those questions, helping us to minimize our financial risk when buying a small business!

Brit Foshee—real estate investor and small business owner—walks us through the process he used to buy his first five landscaping companies, how he consolidated them into one big company to increase their value, and how he did it all with minimal financial risk. And he tells us how we can do the same thing if we decide we want to go the route of buying a small business.

Brit tells us how he finds the businesses he buys, how he evaluates them, how he recruits partners to run them, and most importantly, how he gets the owners to all but guarantee their financial success. And for you real estate investors out there, you’ll be amazed at how similar buying a business is to buying real estate!

And make sure you listen for Brit’s recommendations on using “claw backs”—a way to literally guarantee that a business owner doesn’t misrepresent the numbers when selling you a business.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

Brit's story from buying a property to buying businesses
How people underestimate what it takes to get a business off the ground
How he finds available businesses on the market
Similarities between his business model and buying real estate
How a business with $1M in revenue is likely sustainable without the owner
Why he made a partner a part-owner
Come work "with me" vs. come work "for me"
Why he recommends the owner financing route when buying a business
How he reduces expenses and increases income right after buying
Why he thinks employees are #1
The top mistake owners make
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow40

Learn more about your ad choices. Visit megaphone.fm/adchoices

39: Creating Your Vision and Achieving Massive Success with Cameron Herold

Tue, 21 Jan 2020 07:00:00 -0000

Does the book, “Vivid Vision” sound familiar? Brandon Turner (host of the BiggerPockets Real Estate Podcast) raved about it when he we interviewed him on the show last year. Brandon credited the book with helping him overcome his vague thinking, providing him the insight to hone his goals and putting him on the path to massive success with real estate syndications.

In fact, Brandon raved so much about the book that we knew we had to have the book’s author on the show to provide our listeners a first-hand education on why creating a vision is important and how we should be doing it. And that’s what we’re doing today...

Cameron Herold -- best-selling author, founder of The COO Alliance and the operational brain behind several behemoth companies, including 1-800-GOT-JUNK -- is here to help you learn how to clearly define your business and life vision in a way that will put both you and your team on the path to success. Cameron breaks down the steps for defining your vision, documenting your vision (hint: it’s a lot more fun than you think), and then sharing that vision with your partners, employees and prospective employees to ensure that the entire team is aligned with YOUR vision for success.

And, for those of you who like to think about things from an analytical perspective, make sure to listen for Cameron’s mathematical formula for success…

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

Cameron's incredible backstory
Difference between CEO and COO
How vision impacts your business
Creative ways to relay your vision
The craziest vivid vision story
How vision helps you attract or repel the right people
The miracle morning for entrepreneurs
Cameron's secret formula to success
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow39

Learn more about your ad choices. Visit megaphone.fm/adchoices

38: Converting Customers Into Fans Who Grow Your Business for You with David Meerman Scott

Tue, 14 Jan 2020 07:00:00 -0000

Do you hate marketing? Do you hate sales? Do you wish there was an easy way to grow your customer base and your profits without relying on all the old bread-and-butter sales and marketing techniques that everyone else is using?

Today’s guest provides us a path to business growth that doesn’t hinge on being a professional marketer or salesperson.

David Meerman Scott—bestselling author of 11 books, including the just released Fanocracy—explains to us why the most powerful marketing force on the planet isn’t social media, television commercials, or any other traditional marketing technique. Instead, it is the ability to convert our customers into loyal fans. And he tells us how we can convert customers in our businesses into super-fans, helping us to scale and grow our business in ways that we’ve never considered.

David uses everything from neuroscience research to the band Grateful Dead to show us how we can convert our customers into brand ambassadors for our businesses. Whether your business is a product or a service, whether you have a recurring relationship with your customers or you only engage with them once in a lifetime, David’s techniques will provide you the tools you need to get your customers to grow your business for you.

And make sure to listen for David’s suggestion on using selfies to grow your business! It's brilliant.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

How to create fandoms to grow your business
Discover how the 4 levels of proximity could help you get noticed
Why you should take more selfies
Characteristics that make a true fan
How to convert your customers into loyal fans
A story that turned David into a fan of a company
Giving freely vs. giving with the expectation of receiving something
Why you shouldn't pay for attention
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow38

Learn more about your ad choices. Visit megaphone.fm/adchoices

37: Choosing the Right Niche—Follow a Business Startup Journey From Day 1 with J Scott

Tue, 07 Jan 2020 07:00:00 -0000

J Scott isn’t just the host of this podcast—he’s also a serial entrepreneur, who has a passion for starting businesses. And with 2020 now underway, J is finally ready to announce the launch of his latest endeavor, which he does right here on this episode of the BiggerPockets Business Podcast.

In this episode, J talks about his criteria for choosing an industry and a specific business, he details the new business that he’s launching this week, and he dives into the nitty-gritty details of his financial projections and growth strategy.

J tells us why “sexy” isn’t always the best choice for picking a business niche and how focusing on your existing strengths and expertise can help you create a “barrier to entry”—something that gives you a tremendous advantage over your competition and over others who might try to compete with you in the future.

Best yet, J has promised to come back every few months and update us on this new business journey, so that our listeners can learn from both his successes and his mistakes!

In This Episode We Cover:

J's backstory
Why sexy businesses have a ton of competition
The 4 things J looks for in a business
Plans to start a service business in the real estate industry
The kind of staff required to launch this business
Why redoing the existing website has been low priority compared to other marketing
The 2 sides of this business: emergency and rebuild
J's long-term plan
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow37

Learn more about your ad choices. Visit megaphone.fm/adchoices

36: ALL NEW Tips, Inspiration, and Words of Advice From Some of Our Favorite 2019 Guests

Tue, 31 Dec 2019 07:00:00 -0000

In 2019, the BiggerPockets Business Podcast was launched. In the past eight months, we’ve gotten nearly ONE MILLION downloads, as well as some tremendously positive feedback.

Our guests have included entrepreneurs who are just starting out, entrepreneurs who have built eight-figure businesses, and everything in-between. We’ve talked to business owners who have raised hundreds of thousands of dollars on Shark Tank and have even talked the the Sharks themselves.

We’ve also talked to bestselling authors of some of our favorite business books and to coaches who help entrepreneurs reach their full potential.

Now that we’re entering 2020, we wanted to revisit with some of our favorite and most popular guests from last year, and get their words of wisdom, encouragement, and advice for the new year.

In this episode, we’re bringing back a number of our 2019 guests to give us their best actionable tips and suggestions for entrepreneurs and business owners. Whether you’re planning to launch a business in 2020, are looking to scale your business, or are trying to overcome some business obstacles, today’s show is for you.

In This Episode We Speak To:

Josh Dorkin - BiggerPockets Founder
Trevor Mauch - Founder of Carrot
Brent Underwood - Co-Founder of BrassCheck
Jay Papasan - Co-Author of The ONE Thing
Christina Gillick - Owner of ComfyEarrings.com
Alan Donegan - PopUp Business School Co-Founder
Andy Seth - Flow Founder & CEO
David Greene - Co-host of the BiggerPockets Podcast
David Hoffeld - Author of the book Science of Selling
And Paige Wilcox - Owner of Wilcox Wellness & Fitness

Links from the Show

Link to the full show notes here: http://biggerpockets.com/bizshow36

Learn more about your ad choices. Visit megaphone.fm/adchoices

35: Starting a Brand New Business While Putting Family First with Carol Scott of Scott Silver Concierge Realty

Tue, 24 Dec 2019 07:00:00 -0000

Have you dreamed of starting a new business but can’t imagine how in the world you’d fit that into your already-packed family schedule? Love the idea of getting your significant other involved in your venture, so you can tackle the world together—power-couple style?

It CAN be done… and today’s guest is passionate about sharing how, with the right approach, you can even get the kids on board, too!

In this engaging episode, BiggerPockets Business Podcast host J Scott interviews his wife and co-host Carol Scott, as she launches a brand new business. Carol shares her expertise in leveraging the successes you’ve had in your personal and work life to create a company that generates income while prioritizing—and not compromising—your responsibilities at home.

Carol also provides actionable tips on creative hiring from the get-go to put together an impactful team that can help drive your vision. She also discusses the power in telling everyone you know, loud and clear, about what you’re doing.

Together, Carol and J teach how to instill values of collaborative entrepreneurship in the family and the crucial importance of a dedicated workspace to help shift mindsets, support one another, and make progress toward your goals.

And if you’re hung up on the expectation of perfectionism and doing it all, make sure you listen to Carol’s often-controversial take on how to overcome that unattainable, society-driven notion!

Enjoy, and subscribe to the BiggerPockets Business Podcast to continue learning throughout 2020 and beyond. Happy Holidays!

In This Episode We Cover:

Carol's backstory—from employee to stay-at-home mom
Her new business—a boutique real estate brokerage
What makes a real estate agent unique
The difference between working IN your business vs. working ON your business
How she juggles putting family first while running a business
The main reasons to hire somebody
Valuable tips on finding, interviewing, and hiring the right people
Advice for stay-at-home business owners
Family as the #1 priority
Tips for starting a business
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/bizshow35

Learn more about your ad choices. Visit megaphone.fm/adchoices

34: From NO Business Experience to $40M in Sales and Shark Tank Success with Jamie and Brian Ratner of CertifiKID

Tue, 17 Dec 2019 07:00:00 -0000

Are you concerned that your lack of business experience is going to hinder your ability to start and grow a company? Do you think that being a marketing expert is a prerequisite to getting your first customers? Well, that’s not the case... and our guests today are here to prove it!

Jamie and Brian Ratner—co-founders of CertifiKID, a multi-million dollar family-focused deal site—are here to tell you about how they started their company without business degrees, without a big team, and without a big marketing budget. And on this episode, they teach us how you can bootstrap your business and how building a team that buys into your vision can propel you to success.

Jamie tells us how she stood on the street corner handing out flyers, trying to find that first customer. And Brian tells us how—10 years later—they were able to put themselves in front of some of the most influential investors on the planet. Brian also tells his story about how he went toe-to-toe with Kevin O’Leary (from Shark Tank), negotiating a deal that would bring them a big six-figure investment and a realization of one of their big business goals.

And if you’ve ever dreamed of being on Shark Tank, make sure you listen for Jamie’s tip on how to bypass the cattle-call auditions and get straight to the decision makers!

Check them out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

Why it's important to move quickly and be the first to market
How to hire employees by reaching out to customers
How they follow trends to never become boring to their customers
How they complement each other in their business
How they got into Shark Tank
How they plan for success and not failure
Why building a strong team is their #1 priority
Why you should make appropriate sacrifices
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow34

Learn more about your ad choices. Visit megaphone.fm/adchoices

33: How to Generate Business No Matter the Product or Service with Pat Fenton

Tue, 10 Dec 2019 07:00:00 -0000

Having trouble generating business in your business? Having difficulty converting sales?

CEO, mentor, coach, and marketing expert Pat Fenton is here to talk about the principles of attracting—and converting—customers to your business. No matter what you offer, whether it’s a product or a service, the principles for getting business are the same.

Pat shares actionable steps on how to generate business, how to influence people to contact you, how to grow by expanding your network, how to create reciprocity, and how to add value above and beyond the competition to get continuous referrals and repeat business.

Make sure you listen for Pat’s words of wisdom about how to turn failure into success and how even those who fail the most can ultimately end up being the best.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

Why mentorship is a necessity
How you can strike out 7 out of 10 times and still be a superstar
Why top professionals like rejections
Why practice is where the money is made
Building on existing relationships rather than starting over with new customers
What to be aware of in partnerships
Asking yourself what problems you are solving
Understanding the sales process
Why capital is not the driver of success
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow33

Learn more about your ad choices. Visit megaphone.fm/adchoices

32: Building an App That Partners With Billion-Dollar Brands—But Only Because They "Just Got Started" With Wes Schroll and Tyler Kennedy

Tue, 03 Dec 2019 07:00:00 -0000

"If you wait until you have a perfect plan," says Fetch Rewards co-founder Tyler Kennedy, "you're never going to get started."

That line sums up Tyler's journey alongside his partner Wes Schroll. Today, they take us behind the scenes at their fast-growing startup, which employs 100-plus people and helps two million-plus app users earn discounts on everyday consumer products.

You'll learn how Fetch started "pivoting" right off the bat, how Tyler and Wes approached giant brands like Kraft and Dove (hint: start small), and how two magic words turn regular old customers into evangelists.

No matter what business you're in, you're in the business of looking for "win-win" arrangements. And in this interview, you'll learn how to do that from two creative, tenacious entrepreneurs who credit their success to getting started BEFORE they had it all figured out.

Download this episode, and make sure you're subscribed to the BiggerPockets Business Podcast so you won't miss the next one!

In This Episode We Cover:

What is Fetch Rewards
How the idea came to be
Focusing on the customer experience
The steps they took to build the app
How they scaled to 1.7 million users
How they earn money
Giving rewards to users (and getting even better at it)
What their company looks like from an organizational structure
Focusing on the customers first
The culture of the company
Why you should be a problem solver
Their individual roles
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/bizshow32

Learn more about your ad choices. Visit megaphone.fm/adchoices

31: Leveraging Your Network to Launch and Grow Your Business with Gavin Steinberg

Tue, 26 Nov 2019 07:00:00 -0000

Do you have a business idea but are afraid that you don’t know enough about the industry to achieve success? Do you worry that you’ll hit a roadblock that will keep you from growing your business to its full potential? These are scary thoughts that plague many entrepreneurs, but there is a simple solution to overcoming these risks!

Gavin Steinberg—real estate developer turned founder of the novel furniture subscription company The Everset—is here to tell you how he overcame these risks to his business. His solution is all about leveraging your network and finding other people who can help you navigate those areas of your business where you may not be the expert.

When Gavin decided to enter the world of furniture, he was like a fish out of water. It wasn’t an industry that he knew, but it was an industry that he wanted to be part of. Leveraging his relationships and relying on the help of others who did know the industry, Gavin was able to gain the expertise that he needed and lean on others to help his company grow and thrive.

In this episode, he tells us how we should be constantly expanding our network and recruiting others to help us grow in areas where we don’t have the knowledge or experience to do it ourselves.

Make sure you listen for Gavin’s words of wisdom about how unlikely it is that your first idea will drive your ultimate success and how you should embrace the changes your business will inevitably go through.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

How Gavin created a novel furniture subscription company
Where they offer their service and to whom
How he found his partner
How he's leveraging his network
Strategic partnership with real estate communities
Reaching out to customers by offering service as an amenity
3 things furniture should have: quality, reasonable price, and looks
How they got their first customers
The ability to say no
And SO much more!

Links from the Show

BiggerPockets Forums

Check the full show notes here: http://biggerpockets.com/bizshow31

Learn more about your ad choices. Visit megaphone.fm/adchoices

30: How to Guarantee Profit From Day 1 with Mike Michalowicz

Tue, 19 Nov 2019 07:00:00 -0000

Do you worry that after everyone and everything else in your business is paid, there will be nothing left for you? Have you been taught to believe that the first several years of your business must involve constant financial struggle? Well, it doesn’t have to be that way!

Mike Michalowicz—author of five amazing business books, including The Toilet Paper Entrepreneur and Profit First—knows firsthand how important it is to ensure that you get paid each and every day. And in this episode, he teaches how to make sure that you’re profitable in your businesses from day one.

Mike tells us his story of entrepreneurship highs and lows. After two early successes, he found himself in dire straights, not bringing in enough money to pay his bills and falling into depression. But it was these struggles that made him realize that there was a better way of running his businesses—a way that would ensure that he could take care of his family while his businesses would continue to grow.

The formula is simple, even if it’s not obvious. Mike breaks it down step by step, so that even the most skeptical among us will realize that immediate business profits are just a simple mindset shift away. He helps us realize that profitability in our business is already “baked in” and that by changing our habits, we can start extracting it TODAY!

And make sure you listen for Mike’s business-changing idea: start slow, let it grow.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!

In This Episode We Cover:

How Mike discovered his vocation despite his big failure
Why you don’t have to be a billionaire to be successful
The significance of the profit first formula
The 5 foundational bank accounts
Why you should start slow, and let it grow
How one company switched to profit first and innovated their way to earning more
What companies with debt should do
The Parkinson's law
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow30

Learn more about your ad choices. Visit megaphone.fm/adchoices

29: Scaling Multiple Businesses and Making a BIG Social Impact with Andy Seth

Tue, 12 Nov 2019 07:00:00 -0000

Want to "do well" AND "do good"? Andy Seth's done just that—building several businesses and doing big things in his community. In this episode, he shares how he did it.

You'll love hearing about Andy's journey from humble beginnings, like how he hustled at every turn and how he fought with what he calls "a terrible business partner"—his own ego! (Can anyone relate?)

Andy shares great tips for finding what you're really passionate about and maintaining your energy while juggling multiple pursuits. You'll learn why it's OK to bounce around as you look to make a real impact beyond success and money. And our conversation on hiring might totally change the way you look at job applicants.

Oh—and don't miss Andy's story about writing his book, Bling, in a shockingly short period of time. Andy is a super-thoughtful entrepreneur who's looking at the big picture and making a real difference in people's lives every day.

Check him out, and subscribe to the BiggerPockets Business Podcast so you won't miss our next show!

In This Episode We Cover:

Andy's upbringing and how he grew up struggling financially
Making $300K/year as a DJ in college
How he sold two tech companies before he graduated college
How to build businesses in parallel
How to not fall victim to your ego
His hiring and job description tips
How he was able to write a book in five days
Why he dislikes "world domination"
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/bizshow29

Learn more about your ad choices. Visit megaphone.fm/adchoices

28: Marketing Funnels, Automation, and an Actual 4-Hour Work Week with Ryan Dossey

Tue, 05 Nov 2019 06:00:00 -0000

Whoa! Today's episode is a masterclass in building a business that runs without your day-to-day involvement.

You might have heard of Ryan Dossey the real estate investor, but today he takes us behind the scenes of Call Porter, his live call answering business, employing 27 people in St. Louis, Mo.

You won't find Ryan in the office, though. He lives 1,800 miles away. And because he's put an executive team in place, he can focus on his "superpowers": content marketing and big-picture strategy.

You'll love hearing Ryan's tips on how to keep remote employees accountable, why "core values" aren't B.S., and how to screen potential mentors/coaches to make sure they know what they're doing.

This is a seriously inspiring episode, and you'll walk away ready to automate and delegate those tasks you've been meaning to get off your plate.

Download this one, and subscribe so you won't miss the next BiggerPockets Business Podcast episode!

In This Episode We Cover:

Starting a call center catered to real estate investors
How he became good on the phone
How Call Porter works
Vetting and hiring the right people
How the St. Louis "accent" helps them close deals
How he used paid advertisement and funnels to get clients
Incredible tools to gain more leads
Training employees to convert leads
Using How to Win Friends and Influence People principles
Automating the whole business process
Benefits of having employees work from home
Why you should establish core values in your company
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/bizshow28

Learn more about your ad choices. Visit megaphone.fm/adchoices

27: The 3-Step Social Media Strategy to Attract and Convert More Leads with Brendan Kane

Tue, 29 Oct 2019 06:00:00 -0000

There are tons of social media “experts.” But how many of them have gone from zero to one million followers in just 30 days?

Today's guest Brendan Kane did. And in this episode, he teaches us the straightforward strategy outlined in his book One Million Followers.

If you like the idea of attracting leads on social media but don’t know where to start, you’re in the right place. You’ll love Brendan’s simple recipe for creating content that attracts followers, spreads your message, and turns leads into customers. He's worked with everyone from Taylor Swift to dentists hoping to grow their practices—and his advice boils down to a few lessons you can apply right away.

This episode could gain you thousands of followers and help you form valuable connections. So don’t miss it! And subscribe to the BiggerPockets Business Podcast so you won’t miss the next one!

In This Episode We Cover:

How Brendan got into business online
From zero to 1 million followers in just 30 days
Which platform should you start with?
How much money do you need to spend?
His process involving hypothesizing, testing, and pivoting
75,000 tests
5 elements of content to test
2 reasons you should test a lot
What makes a good content?
The concept of hook points
Targeting your core audience
Do you really need viral content?
And SO much more!

Links from the Show

Check the full show notes on BiggerPockets: http://biggerpockets.com/bizshow27

Learn more about your ad choices. Visit megaphone.fm/adchoices

26: Fail Fast? No, Start Slow! Secrets from Building (and Exiting) the World’s Biggest Wine Brand with Michael Houlihan and Bonnie Harvey

Tue, 22 Oct 2019 06:00:00 -0000

How would you run your business differently if you started with the end in mind?

Today’s show is all about forming your exit strategy up front… and there’s no one more qualified to talk about that than the co-founders of Barefoot Wine.

Bonnie Harvey and Michael Houlihan weren’t even “wine people” when they went into business. Yet they found a way to outsell everyone else and eventually had giant companies competing to buy THEM. (They happily sold to Gallo in 2005.)

In this episode, you’ll learn the strategies that drove their explosive growth and the way in which you can apply them—no matter your experience level.

From the simple question that launched their business, to the pitfalls of “falling in love with your product,” to why every entrepreneur should meet business brokers for lunch once a month, this show is packed with practical, hard-won wisdom you can immediately implement.

Download this one, subscribe to the BiggerPockets Business Podcast, and share this episode with just one person who you think you would get value out of it!

In This Episode We Cover:

Barefoot’s (crazy!) origin story
The one-sentence piece of advice that guided their launch
Identifying a hidden opportunity in a competitive market
How to design an iconic logo
Why your market is more crucial than your product
Avoiding the unnecessary expenses that kill most businesses
How “worthy cause marketing” transformed their customers into advocates
How to take other brands' followers
The importance of ensuring your product display is correct
How to think about what retailers want
Preparing to sell a business
Using narrative storytelling to teach entrepreneurship
And SO much more!

Links from the Show

Listen on BiggerPockets: http://biggerpockets.com/bizshow26

Learn more about your ad choices. Visit megaphone.fm/adchoices

25: What You Can Learn from a Company that Manages 12,000 Contractors with Ken Davis of TaskEasy

Tue, 15 Oct 2019 06:00:00 -0000

Today we get a peek inside a company that handles lawn care for 800,000 properties across the U.S.

And although few of us will ever build such a behemoth, trust us—you will learn a ton from this episode with TaskEasy CEO Ken Davis.

In it, you'll hear how Ken started the company to solve his own biggest headache, why TaskEasy zeroed in on mowing lawns, and the biggest operations challenges the company faces as it services thousands of clients.

Also, Ken speaks to the importance of doing right by your very first customers before scaling, why ideas are a dime a dozen (execution—not so much), and how the right mentors can save you a fortune.

Ken also reveals his No. 1 tip on how to automate processes in your own business. So if you are looking to get more organized and think strategically about how your business is set up, download this episode and subscribe to the BiggerPockets Business Podcast so you won't miss the next one!

In This Episode We Cover:

The original vision of TaskEasy
Starting a lawn care company without owning a single lawn mower!
The difficulty of hiring a contractor
The power of technology and automation
How he manages his contractors
Their business processes
How they handle issues and conflicts
The single most difficult support request they take
How to turn a synchronous experience in support
Why they do tasks manually first
How they're marketing evolved over time
Why you should focus on the "ones and tens"
Why you should surround yourself with mentors
And SO much more!

Links from the Show

Check full show notes on BiggerPockets: http://biggerpockets.com/bizshow25

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24: LIVE from BPCon2019: Ask Us Anything!

Sun, 13 Oct 2019 06:00:00 -0000

All the BiggerPockets podcast hosts on stage in one place!

This bonus episode was recorded at the BiggerPockets Conference last week in front of a live audience of more than 1,000 people at the Gaylord Opryland Resort in Nashville, Tennessee.

We turned the mics over to our members, who fired a bunch of great questions at Scott Trench and Mindy Jensen, Brandon Turner and David Greene, Joshua Dorkin, and J and Carol Scott.

Our panelists covered some nitty gritty real estate topics like tackling vacancy and how to invest IRA funds, as well as big-picture concepts like motivation, marketing, and how to teach family members the importance of investing at an early age.

Also -- everyone reveals what animal they would be if they had to choose. And one member of the audience challenges David Greene to produce an analogy on the spot… listen to find out whether he performed under pressure.

Our first conference in 7 years was a big success, and we’re so thankful to everyone who came out to learn, network, and have a great time.

Download this bonus episode, and be sure to subscribe to all three shows so you won’t miss an episode.

Learn more about your ad choices. Visit megaphone.fm/adchoices

24: Achieving 'Time Freedom' and Franchising a Personal Training Business with Paige Wilcox

Tue, 08 Oct 2019 06:00:00 -0000

What if you documented every process that makes your business run?

Imagine how much easier it would be to scale and how much less stressful it would be to take a day (or week or month) off to spend with your family?

Today’s show is about creating standard operating procedures to make your life easier down the road. Paige Wilcox of Wilcox Wellness & Fitness breaks down how she and her husband built a personal training business that can run on autopilot—which eventually allowed them to open their first franchise.

You’ll learn how Paige thinks about systems, how she automated her email marketing, and how businesses can expand. Paige brings a ton of energy in this episode, and it’s clear how much she loves being in business for herself and putting her stamp on her community.

Download this episode and subscribe to hear more stories like hers!

In This Episode We Cover:

How a blind date lead to marriage and a business!
The story behind their business
How to start a wellness business with your spouse
What was wrong with their initial business model
How they scaled up their business from 30 to over 100 clients and growing!
Shifting from customer type to client type mindset
Automation and marketing machines
What is franchising and what made them decide to go that route
Their first franchisee
How they put everything on SOP
And SO much more!

Links from the Show

Learn more about your ad choices. Visit megaphone.fm/adchoices

23: Scientifically Proven Sales Techniques with David Hoffeld

Tue, 01 Oct 2019 06:00:00 -0000

Grandpa may have been a great salesman in his day. But if you’re using the same strategies he used (and most of us are), you’re ignoring powerful brain science that flips conventional wisdom on its head.

And you’re leaving a lot of money on the table.

In today’s episode, we’ll dive into new research with David Hoffeld, a sales trainer who wrote the bestselling book The Science of Selling.

After listening to this show, you’ll have a far better understanding of how your prospects think through concepts like fear and risk. You’ll learn how to overcome their objections by “priming,” how to use stories to reassure them, and how to address the six “whys” that explain every buying decision.

Plus, when you do lose a sale, you’ll be able to apply David’s framework for analyzing exactly what went wrong. That way, you'll know how to close the very next deal!

Turns out, potential buyers are often turned off not by the product itself but by the way it’s presented by the salesperson.

Listen to this episode to learn the “buyer-centric, science-based” sales methods David teaches his clients. If you like this show, let us know in the comments below! And be sure to subscribe to the podcast, so you won’t miss an episode!

In This Episode We Cover:

How a “make 100K/year” ad spawned David's start in sales
How our brains form buying decisions
What is “sales shame”
The importance of giving first, then asking
Providing value through knowledge and curating articles
Getting people to thank you for a cold call
40-50% of salespeople underperform vs. quota
The 6 "whys" that motivate people to ACTUALLY buy
Using stories to get past client’s fear of risk
Stories' ability to engage a different part of the brain
Analysis after losing a sale to strengthen process
Priming for commitment
Why putting too much emphasis on “the close” is misguided
Rejection based on the product vs. rejection based on the way a product is presented
Buyer-centric, science-based selling
Selling like our grandparents did
His thoughts on over-dependence on technology
And SO much more!

Links from the Show

Learn more about your ad choices. Visit megaphone.fm/adchoices

22: The Free Strategy to Reach WAY More Customers with PR Expert Josh Elledge

Tue, 24 Sep 2019 06:00:00 -0000

Like a lot of entrepreneurs, Josh Elledge got started trying to solve his own problem. After launching the personal finance tool SavingsAngel.com, he came to realize that by far the best way to generate brand awareness was to provide massive value to news organizations—who would in turn give him a free platform to promote himself!

If you’ve been struggling to get press or establish yourself as an expert, this episode might just change the whole way you approach publicity. Josh lays out a realistic path for starting off small (sorry, Oprah’s not going to pluck you out of obscurity), describes the two things you must do to raise your authority, and explains how to convert your newfound visibility into sales (without coming across as too “salesy”).

Josh gets into the nitty gritty of how to quickly and easily create a press kit, how to build long-term relationships with journalists, and when appropriate, how to lean into polarizing viewpoints to create true fans. Whether you’re a business owner or a subject matter expert hoping to raise your profile, this episode is a perfect guide for how to “let the media do your selling for you!”

Tell us what you think of this episode in the comment section below, and don’t forget to subscribe to the BiggerPockets Business Podcast on your favorite smartphone app so you won’t miss the next episode.

In This Episode We Cover:

Failing with 6 businesses succeeding on the 7th
How to be in front of an audience
How to do market research
Focusing on your online authority
How to build your online presence
Converting your presence to business
Media for visibility vs. media for authority
Why he prefers providing big value and how it affects his business
And SO much more!

Links from the Show

Learn more about your ad choices. Visit megaphone.fm/adchoices

21: Reframing the Rat Race: How to Use Your Day Job to Prepare for Entrepreneurship with James Anderson of Forged Axe Throwing

Tue, 17 Sep 2019 06:00:00 -0000

What went into building an (almost) seven-figure axe throwing business that earns hundreds of five-star reviews?

For James Anderson, it all started well before he left his 9 to 5.

As a marketer and tour guide, he learned how to create buzz, split-test, design systems, and craft world-class experiences… skills James later put to use bootstrapping the Whistler, B.C.-based business he co-founded.

In this episode, you’ll learn why James believes market research is “the most important work that you never get paid for.” He gives us his tips for measuring the effectiveness of both online AND offline marketing campaigns, reveals his company’s current profit margins, and shares a hilarious story about an exhausting grand opening that forced him to temporarily shutter the business on its very first day.

You’ll also learn how James diversified his business by developing scorekeeping software, how he handles insurance, what lessons he learned from a previous Christmas light venture, and the BIG opportunity most entrepreneurs aren’t taking advantage of today.

James’ story is a real blueprint for how to transition from a traditional day job into entrepreneurship, so if you’re interested in doing the same, make sure you listen to this episode today.

If you get value from the show, please rate and review us on iTunes, and subscribe to the BiggerPockets Business Podcast so you won’t miss the next one.

In This Episode We Cover:

Using your 9 to 5 as an internship for entrepreneurship
How James started with planting trees for 10 cents
How he got the idea of Forged Axe Throwing
What “soft adventure” is
James and his partner's business plan
How they found venues for axe-throwing
Their marketing strategy centered around creating excitement
Why they had to close on their first actual day of business
How to automate customer service
Traditional marketing vs. online marketing
How to track offline marketing efficacy
Decreasing “friction” for customers
Why they didn’t franchise
Opportunities for buying businesses
And SO much more!

Links from the Show

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20: The Questions You MUST Ask Every Potential Hire with David Greene

Tue, 10 Sep 2019 06:00:00 -0000

“Finding the right people.”

Ask any entrepreneur about their biggest challenge, and you’re likely to get some version of that answer.

So, when you’re building a team, how do you REALLY judge the character, motivation, and “fit” of a potential hire?

There’s a way. And on today’s episode of the BiggerPockets Business Podcast, David Greene reveals the EXACT questions he’s used to build out his team of real estate agents in the San Francisco Bay Area.

You might know David as the author of two books (Buy, Rehab, Rent, Refinance, Repeat and Long-Distance Real Estate Investing) and as co-host of the BiggerPockets Real Estate Podcast. But he also runs a thriving business buying and selling houses—and that’s the focus of today’s show.

You’ll learn how David learned to delegate tasks that drained his energy or didn’t fit his personality, how hiring his first assistant proved to be a HUGE turning point for his business, and the two things that set him apart from all the other agents out there.

Also, David shows us how “frame control” can allow you to help close more deals, how he looks for employees everywhere he goes (even towing garages), how he differentiates “checklist tasks” and “skill tasks,” and how to train for both. Plus, he touches on what toothpaste brands and Chick-fil-A can teach us about our own businesses.

If you ever feel overwhelmed by taking on another time commitment, listen for David’s tip about creating synergy between his various ventures and the secret to creating a lead “funnel.”

David’s story and work ethic are truly inspirational, and you’ll learn a TON from the way he uses systems and leverage to run his agent business like a well-oiled machine.

Listen to this episode—count up the analogies—and subscribe to the BiggerPockets Business Podcast so you won’t miss the next one!

In This Episode We Cover:

Being first in mind to his target audience
His first employee
How to leverage every part of the business
Helping other agents become better
Having a productivity coach
How to transition from you doing everything to delegating to a team
Checklist work vs. skill tasks
How to acquire talent using a personality assessment
Letting people tell you their story
How to manage time
Finding people with high standards
And SO much more!

Links from the Show

Listen to the episode on BiggerPockets: https://www.biggerpockets.com/bizshow20

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19: From “Naive” Newcomer to 8-Figure Revenue in 4 Years with Barnana Co-Founder Nik Ingersoll

Tue, 03 Sep 2019 06:00:00 -0000

Prepare yourself for an incredible tale of entrepreneurship. It features a hardscrabble upbringing, relentless optimism, negotiations with Amazonian tribesmen, and some bold guerrilla (“gorilla”?) marketing stunts.

Barnana has been making organic banana snacks since 2012. The founders call bananas “Mother Nature’s energy bar”—hence, the name.

When they started, they didn’t have much money of their own. So, they had to build a business that appealed to investors.

Today, co-founder Nik Ingersoll reveals exactly how they did that. You don’t get into 20,000 stores (including heavyweights like Whole Foods and Costco) without money. But as Nik explains, it doesn’t have to be YOUR money. In fact, one of the most valuable parts of this episode is Nik’s story of how he used “lean startup” principles to raise Barnana’s first round of funding.

Also, ever wondered how much it actually costs to make that healthy snack you’re munching on? Well, Nik breaks down Barnana’s supply chain and profit margins in detail—from working with distributors/middlemen, to using brokers to get Barnana’s products into stores, to getting certified as “organic.”

And he shares some great ways he’s generated free publicity over the years, including the launch of this farcical new product.

This is one of our best episodes yet. Tell us what you think, and subscribe to the show so you won’t miss an episode.

In This Episode We Cover:

Nik's background and how he has been hustling since he was a kid
Starting various businesses and founding Barnana
How he taught himself to code
Taking on a huge undertaking by starting a massive retail business
Barnana's crazy supply chain
Working with organic products
How he raised capital creatively
Figuring things out one part at a time
Channel strategy
Best advice for anyone who wants to get into the food retail business
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/bizshow19

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18: How to “Have it All” by Living with INTENTION with Brandon Turner

Tue, 27 Aug 2019 06:00:00 -0000

Be honest. Have you ever set an ambitious goal, mapped out a plan—and then watched that goal get buried under an avalanche of more urgent (but less important) responsibilities?

We bet you’re nodding. Maybe even wincing. Doesn’t feel great, does it?

Today’s show is about breaking that cycle.

And to help us, we brought in a familiar voice. Brandon Turner, co-host of the BiggerPockets Real Estate Podcast, thinks a LOT about this.

Today, he shares the tools he’s used to achieve financial freedom through real estate investing, move to Hawaii, improve his personal health, AND spend more quality time with his growing family—tools you can use to get clear on your vision and really stick to your next big goal.

You’ll hear about Brandon’s failed first business venture, how he got into real estate investing for cash flow, and how he discovered a way to bring BIG value to BiggerPockets as Employee #2, despite not owning a computer the year before!

Brandon also reveals the surprising reason he chose to go all-in on mobile home park investing (hint: NOT necessarily because it’s the “best” investment) and the workflow that allowed he and his partners to get hundreds of pads under contract in just a few months—the exact method he outlined in the new-look BiggerPockets Intention Journal.

Oh, and you’ll learn the meaning of “M.I.N.S.” and the role they plan in moving your business forward (ESPECIALLY when the going gets tough).

Brandon shares why writing out a “vivid vision” of your future might be the best thing you can do to move you closer to your ideal life, why he asks, “What would be awesome?” and then works backwards, and why he and his wife organize a goal-setting retreat together on the same day every year.

This is an awesome episode that lays out a battle plan for getting WAY more done while setting aside quality time for friends, family, and fun.

Download this one, and subscribe using your favorite podcast app so you won’t miss any future shows.

Listen on BiggerPockets: https://www.biggerpockets.com/bizshow18

In This Episode We Cover:

Brandon's mobile oil change business plan (that he didn't execute on)
How he flipped a house and spent all the money
Brandon's very first house hack
How he “got into the business of collecting units” and quit his job
How a cold email led to him working for BiggerPockets
The strategy he used to write 50 blog posts in a year for BiggerPockets
Brandon's thoughts on the path to 100 units
Why you should ask yourself, “What would be awesome?”
How to ask, “What if it was easy?” and work backwards towards your goal
How to balance family life and health with business
Why he chose mobile home park investing (hint: not because it’s the “best” asset)
How to "have it all" (as long as you’re focused and tracking everything)
Tips for setting goals as a couple
How to identify the “Most Important Next Step” (M.I.N.S.) and then time block it
The 90 Days of Intention Journal
The importance of writing down goals every day
And SO much more!

Links from the Show

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17: Using Fear as Fuel with Alejandro Velez and Nikhil Arora, Co-Founders of Back to the Roots

Tue, 20 Aug 2019 06:00:00 -0000

Today’s episode is proof that fear isn’t always a bad thing. In fact, it can be a powerful motivator. And more importantly, fear serves as a signal that you’re pushing yourself far beyond your comfort zone and blossoming as an entrepreneur.

Overcoming doubt is one of several topics we discuss with Alejandro Velez and Nikhil Arora, co-founders of a startup that produces a growing line of home gardening and food products.

You’ll love the story of how they met and hatched their idea in a college classroom, why they strive to practice “conscious capitalism,” and how they got PAID to collect the raw material they used to grow their first products (mushrooms grown out of used coffee grounds!). Alejandro and Nikhil also share their tips for raising capital and the story of how Back to the Roots struck deals with giant organizations like Whole Foods and the New York City Public School System.

This is a motivational show featuring two entrepreneurs who are wise beyond their years, and it’s packed with practical tips for scaling any kind of business.

Download this one today, and share it with two people you know would get something out of it! Oh, and don’t forget to subscribe to the BiggerPockets Business Podcast on Apple Podcasts or Google Podcasts so you won’t miss a beat.

In This Episode We Cover:

The concept of back to the roots
How they started and what is their product
The turning point where they realized the business potential
How they create and manufacture their products
Getting in front of retailers
Their tips on raising capital
Earning a million dollars in revenue
Demoing every weekends
The next evolution of the business
Adding more and more products
And SO much more!

Links from the Show

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16: Mastering Cash Flow and Finding Riches in “Headache” Jobs with 3Point Cleaning CEO Jesse McCue

Tue, 13 Aug 2019 06:00:00 -0000

Jesse McCue’s property management company had a problem: Try as they might, they just couldn’t find a thorough, reliable cleaning crew.

So, what did Jesse do? He threw up his hands and went back to “Dancing with the Stars.” Duh.

Kidding!

Jesse took matters into his own hands, and what started as a singles-and-doubles operation has grown to a thriving, 100-employee enterprise based in Bangor, Maine.

In this episode, Jesse maps out a battle plan YOU can use to start a service business. From starting a website to getting insured, he guides us through exactly how to get started making profit by solving someone else’s #1 problem.

Jesse breaks down how he multiplied his client base while barely spending anything on marketing, how he uses high-tech systems to monitor the performance of his night-shift employees, and how he uses checklists to systemize his hiring process so he’s not just relying on his gut.

Plus, he shares how he navigated a tough transition around the 30-employee mark. AND he warns us about a danger facing every small business owner -- a cash flow-management trap that’s always lurking... even if business is booming!

Listen to this episode today… Be sure to check out our back catalogue, and subscribe using your favorite podcast app so you won’t miss any future shows!

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15: How to Build a $100k/Month Real Estate Wholesaling Business with Max Maxwell

Tue, 06 Aug 2019 06:00:00 -0000

What are you doing that you're not good at and/or don't like doing? Fire yourself—seriously!

This episode is about delegating and systemizing, and who better to learn from than a serial entrepreneur who’s been tearing it up in real estate in recent years?

Max Maxwell is a wholesaler, meaning he finds deeply discounted deals, ties them up under contract, then assigns them to an end buyer for a fee. Today Max tells us about his journey, from discovering he was dyslexic to joining the Air Force (“getting shot at for $20K/year”) to going broke (twice!). After all that, Max shares how he ultimately enrolled in “YouTube University” to learn the art of wholesaling.

You’ll love the story of how Max’s business really took off when he delegated a weakness (data collection) and instead doubled down on his strengths (marketing and sales). Max also walks us through how to hire an overseas virtual assistant and how his first “V.A.” came to hire other team members once he began to scale up. He goes on to break down the structure of his business and reveal which marketing techniques brought in his juiciest deals.

Max runs through his dos and don’ts for building a personal brand, as well as describes how he’s been able to build four businesses based on his wholesaling! Plus, if you know anything about Max, you know he’s a smooth negotiator. So, we asked him which skills are most crucial when developing rapport or closing a deal.

Whether you’re in the real estate business or not, this episode is full of actionable advice for getting out of your own way and designing a well-oiled machine that works for you. So, don’t miss this one, AND don’t forget to subscribe, rate, and review the podcast on your favorite app!

In This Episode We Cover:

Why dyslexics often excel in business
Transitioning from the military to marketing to real estate
Structuring a real estate wholesaling business
Hiring and managing a virtual assistant
Building a personal, rather than a corporate brand
Active (highly taxed) income vs. passive income
Why “fake it ‘til you make it” is often misunderstood
The meaning of his motto, “You’re one deal away”
Finding purpose by building wealth for future generations
And SO much more!

Links from the Show

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14: Entering a Crowded Service Market and Crushing the Competition with Nick Huber

Tue, 30 Jul 2019 06:00:00 -0000

Want a blueprint for breaking into a competitive industry and taking down your bigger, more established competitors?

Well, that’s the focus of today’s episode with Nick Huber!

As a college student, Nick founded a storage business aimed at helping his classmates. But the story doesn’t stop there. Nick and his partner passed up corporate job offers and have since expanded Storage Squad into 11 states and runs a team of 350 part-time workers.

So how did Nick go from transporting items in his Cadillac DeVille and cramming them into his apartment... to signing on as the preferred storage provider for huge state universities?

The answer involves “lean startup” principles, oldschool marketing tactics like sidewalk chalk, and a relentless focus on developing a competitive edge over bigger companies with less of a personal touch.

You’ll be blown away by Nick’s resourcefulness, his tip about letting customers “see the whites of your eyes,” and how he was able to get executive help without giving away a huge chunk of the business.

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13: 3 Rules for Crushing It in Business with ‘Shark Tank’ Star Barbara Corcoran

Mon, 22 Jul 2019 16:00:00 -0000

What does “The Queen of New York Real Estate” look for in an entrepreneur?

As a “shark” on ABC’s “Shark Tank,” Barbara Corcoran hears a lot of pitches. She’s invested in entrepreneurs who have gone on to thrive... AND those who’ve failed or faded away.

So what separates them?

In this episode, Barbara shares what she’s learned both from the show AND her own remarkable, roller-coaster career.

You’ll hear how she began her business career as an 11-year-old (even making the local paper), how she was inspired by her father’s unhappiness working for someone else, and how a failed relationship sparked her ambition to become New York City’s biggest real estate broker (which she accomplished!).

You won’t want to miss the story of how she almost lost the Shark Tank job before it started, and how she fought tooth-and-nail to get the gig. You’ll hear her thoughts on investing in “the person,” rather than “the business,” when it makes sense to bootstrap vs. raising capital, why she distrusts entrepreneurs who use fancy jargon, and the surprising quality she values above all else.

If you are interested in what makes some people succeed and others fail, you will love Barbara’s insights. Check out this show, and subscribe using your favorite podcast app so you won’t miss the next one!

In This Episode We Cover:

Barbara’s upbringing in a big, competitive family
How a messy breakup lit her competitive fire
How she launched a successful real estate brokerage in New York City
Why sales is vital to every business
Juggling work and family commitments
Why it’s almost always better to bootstrap vs. taking on investors
Why she’s turned off by the words “pivot” and “burn rate”
Why Comfy Bros. turned out to be her best “Shark Tank” investment
The #1 reason entrepreneurs fail

Links from the Show

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12: Step-by-Step Case Study: Manufacturing, Marketing and Selling a Physical Product with Cody Berman of Arsenal Discs

Tue, 16 Jul 2019 06:00:00 -0000

How do you go about creating a product line out of thin air? In this episode, Cody Berman breaks down the process from start to finish -- and opens up about his exact costs and profit margins. Cody grew up playing this disc golf (think of it as “golf with frisbees”), and by the time he was 19 years old the game was growing FAST. He spotted a big opportunity in the equipment market… and decided to do something about it. You’ll learn how Cody and his partner went about their market research (cost per unit, engineering, official regulations, margins, markup, MSRP), how they launched a Kickstarter campaign to raise seed money, and their process for calling 200 (!) prototyping and molding companies to get the best deal possible. We also talk about the moments that almost made them quit -- from being told they would need $100,000 to start (they wouldn’t) to surviving a disastrous early production run that led to an all-nighter and a lot of wasted capital. Cody also reveals how he markets Arsenal Discs in online groups, how he handles packaging and shipping, and his tips for entrepreneurs thinking about selling via Amazon. Don’t miss this action-packed episode, and subscribe so you won’t miss the next one! In This Episode We Cover: The story behind Arsenal Discs How to start a business in college Meeting his business partner in college The story behind how they built the actual discs How to get from a product idea to an actual product The other hidden processes when starting a business Handling obstacles and rejections Doing whatever it takes to launch a product And SO much more! Links from the Show BiggerPockets BiggerPockets Money Podcast 26: Graduating College on Track for Financial Independence with Cody Berman BiggerPockets Money Podcast 17: Building a Lean Business With (Almost) No Capital with Alan Donegan Amazon Kickstarter Fiverr UpWork

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11: How to Build a World-Class Craft Brewing Company with Dave Thibodeau

Tue, 09 Jul 2019 06:00:00 -0000

Ever dreamt about getting paid to sit back and drink delicious beer all day? Well, keep dreaming. Yes, the beer industry is a lot of fun. But as you may have guessed, it’s hyper-competitive and demands a LOT of hard work! In today’s episode, Dave Thibodeau traces Ska Brewing’s evolution from scrappy underdog to top-100 brewery, competing against international conglomerates (all while keeping its edgy sense of humor). You’ll learn how Dave stumbled upon his passion in a book, how he and his partners bootstrapped the business by buying used equipment and sleeping in a Volkswagen bus, and how they marketed their brand’s “David vs. Goliath” attitude in a comic book. You’ll also hear how Dave and his partners expanded internationally, built a distribution arm to help other brewers (“coopetition,” he calls it), eventually scaled to 70 employees, and embraced the pain of a bad hops contract by releasing a limited-run, very hoppy brew called Bad Hop Contract. Don’t miss Dave’s advice for how to split up responsibilities among partners, and be sure to listen through to the end to hear him explain the big advantage smaller, more locally-minded businesses have when competing with international giants. Dave is a laid-back guy, who has managed to build a massive business while still remaining true to himself—so check him out in this episode, and subscribe so you won’t miss the next one! In This Episode We Cover: Why Dave looks at other craft brewers as “coopetition” How Ska Brewing expanded into overseas markets (They’re big in Sweden!) How a real estate investment made the company a ton of money What the “mom-and-pop” game is, and how to avoid it in your business Why Dave tries to hire people smarter than him Why he doesn’t blindly follow trends Why doing business locally helps his profit margins How diversifying into other products made his business stronger Why it’s so vital to make each employee feel important And SO much more! Links from the Show BiggerPockets BiggerPockets Business Podcast 03: How to Attract Media Attention and Turn Publicity Into Profit with Brent Underwood

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10: Building a 7-Figure Meat Snacks Company and Forming a Perfect Partnership with Peter Awad

Tue, 02 Jul 2019 06:00:00 -0000

How do you launch a profitable business without taking on a ton of employees or dealing with brick-and-mortar retailers? Peter Awad, co-founder of Mission Meats, breaks it all down in this episode. You’ll love hearing about Peter’s upbringing in a family of first-generation immigrant entrepreneurs. He also discusses how he got his start hustling in the early days of e-commerce (remember Mail Boxes Etc.?). You’ll also learn how Peter wound up miserable when he realized his job didn’t match his natural strengths and how interviewing other entrepreneurs shifted his perspective and inspired him to change careers. Peter offers useful insight into what makes a great (and terrible) partnership, how he and his partner came up with the same company name and logo independently(!), how he overcame his inability to focus, and why the person is more important than the idea. He goes on to explain the concept of a “slow hustle”—and how it may just help you navigate the ups and downs of entrepreneurship. Plus, Peter describes how Mission Meats is able to test products without a big upfront investment, how he gets instant customer feedback, why ego is the enemy of a profitable business, and how philanthropy motivates him to succeed. And be sure to listen until the end to hear a conversation about passing down business knowledge to the next generation. Download this episode today, and subscribe so you won’t miss the next! In This Episode We Cover: How Mission Meats uses “lean startup” principles How Peter overcame his “focus problem” by giving up on good ideas Why he likes to ask, “OK, but why YOU?” The importance of partners checking their egos at the door Why “slow hustle” sums up his approach to business How starting a podcast affected his career choices How to teach your kids about entrepreneurship And SO much more! Links from the Show BiggerPockets Slow Hustle Podcast with Peter Awad Caliper Yelp TripAdvisor

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9: The Secret to Starting a Risk-Free, Debt-Free Business QUICKLY with Alan Donegan

Tue, 25 Jun 2019 06:00:00 -0000

You’ve got your idea, and you’re ready to take over the world. Now, where should you start? Should you... write a detailed business plan? Buy the equipment? Take out a loan? Wrong, wrong, and WRONG, according to our guest today. Alan Donegan founded the PopUp Business School to teach a different approach—one that encourages entrepreneurs to measure feedback well before they go into debt or get themselves stuck in a rat race of their own making. In this episode, Alan shows us how to experiment to see if customers will actually pay for your offering (“people will always be nice to you up until the point when you ask them to take money out of their pocket”) and how to organize a trial run to determine whether you even enjoy running the business. You’ll love Alan’s advice to “fail fast and fail cheap,” and to create a “high-trust environment” so you can get paid up front. Plus, you’ll learn how some of the most valuable companies in the world got started using this lean model. Alan shares his thoughts on exactly when to quit your 9 to 5 and go all-in on your business. He also reveals how to keep your energy up when burning the candle at both ends and why understanding the “trinity of management” is vital to the success of your enterprise. This is one of our most actionable, knowledge-packed shows so far. Be sure to download it and subscribe to the BiggerPockets Business Podcast using your favorite app for more! In This Episode We Cover: What inspired Alan to start his training program How to conduct real-world market research How Amazon and Virgin used the method Alan teaches How to do a “trial run” for your business idea How to get others excited about your product Why saving a portion of profits might someday save your business And SO much more! Links from the Show BiggerPockets BiggerPockets Premium BiggerPockets Forums

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8: How to Use Words That SELL With Copywriting Ace Christina Gillick

Tue, 18 Jun 2019 06:00:00 -0000

What if we told you that mastering this one skill could allow you to replace your W-2 income, boost sales immediately, AND help launch your own thriving online business? Christina Gillick used copywriting to do all three of those things! In this episode, she shares her story and guides us through a crash course on persuasive writing. You’re going to love Christina’s tips for writing like you talk and using stories to grab your audience’s attention. And you’ll learn how to overcome objections without coming across as too salesy. Also, you know that old infomercial trick, “But wait… there’s more!”? Well, it works. And from Christina, you’ll learn how to close deals by making irresistible offers and attractive money-back guarantees. Worried you’re not a great writer? Listen for Christina’s advice on hiring a copywriter. Also, whether it’s a landing page, direct mail piece, or Facebook ad, Christina reveals how split-testing different versions will get you an optimal result. In fact, she used this strategy to drive sales in her own business, comfyearrings.com. Warning: this episode could change the way you think about marketing. Check it out, and subscribe to the show so you won’t miss an episode! In This Episode We Cover: What is copywriting? How Christina got into it The types of copywriter Figuring out your target market How to determine if content should be focused on facts or emotions The So-What test? Starting her own business Where to find copywriters How to become better at copywriting The creative P.S. Why you want to tell stories And SO much more! Links from the Show BiggerPockets American Writers and Artists Inc. LinkedIn Upwork Duluth Trading Spotify

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7: Crafting a 5-Star Experience that Keeps Guests Coming Back with Surf Resort Owner Ru Hill

Tue, 11 Jun 2019 06:00:00 -0000

A data-driven approach. Cutting-edge technology. A rethinking of the traditional corporate reporting structure. We’re willing to bet you wouldn’t associate these concepts with surfing. But Ru Hill is not an ordinary surfer. He’s a scientifically-minded entrepreneur who has used these ingredients to build an extraordinary business called Surf Simply in Nosara, Costa Rica. In this episode, Ru reflects on why more than 30% of his guests are repeat visitors (that’s 10X the industry average!) and reveals how he’s been able to improve the customer experience by focusing less on the customer… and more on his 35 team members. You’ll be blown away by Ru’s explanation of the Peter Principle and how he’s avoided this trap by doing away with a hierarchical reporting structure. He also explains why paying someone more doesn’t necessarily improve their performance. And listen up for the one thing entrepreneurs often get wrong about social media marketing. So, with guests on a 12-month waiting list, Ru plans to massively scale—right? Listen all the way through to hear what he plans to do next. And subscribe so you won’t miss a show! In This Episode We Cover: How Ru got started on his business and story behind it What A/B testing is and how it's helped him What artists should do at a young age Tips for finding the right employees His secret to getting repeat customers How to find the right coaches Why he doesn't do performance-based pay Whether you should scale a business or not The factors that make a satisfying life And SO much more! Links from the Show BiggerPockets BiggerPockets Money Podcast Gensler Study showing close relationships are what truly makes people happy

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6: How to Manage Your Time Like a Millionaire With Jay Papasan

Tue, 04 Jun 2019 06:00:00 -0000

We all share the same 24 hours… so how do peak performers seem to squeeze in so much more? Today, you’ll learn the tools author Jay Papasan uses to lead the publishing arm of Keller Williams Realty, all while growing a thriving family business (and raising two kids and a dog named Taco). For Jay, it’s not just about saying yes or no to opportunities. It’s about setting up systems (a virtual FAQ has saved him countless hours) and putting conditions around his commitments (use the words, “Yes, IF…“). Jay also goes in-depth on hiring and tells us why it’s a scary but worthwhile exercise to do the math on how much a single bad hire would cost a company. Looking for that one person who will take your business to the next level? You’ll want to hear about the “missing persons report” Jay uses to stay on the lookout for his next team member and the counterintuitive question he asks himself before each and every hire he makes. This episode is packed with proven wisdom from one of the sharpest business minds in the game. So make sure you listen through to the end, and subscribe so you won’t miss the next one! In This Episode We Cover: How to defend your time while still being generous How to scale your influence by organizing events How to set up regular “office hours” for networking Why it takes 30 hours to delegate a 1-hour task Goal-setting strategies for couples The question he asks himself before hiring anyone How to create a “missing persons report” to find new hires And SO much more! Links from the Show BiggerPockets KellerWilliams Realty

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5: Disrupting an Ancient Industry by Thinking Differently with Daniel Santana and Chris Bossio

Tue, 28 May 2019 06:00:00 -0000

Today’s guests are harnessing technology to change the face of a blue-collar, brick and mortar business that’s been around for 7,000+ years : barbering. Daniel and Chris break down exactly how they opened their first barbershop in the Tampa Bay area, and how reinvesting the profits allowed them to open 6 more in a few short years. They explain why every entrepreneur should set aside some funds for “oopsies.” And they offer tips on projecting expenses, choosing a location, hiring a team, and conjuring up creative ways to get customers in the door -- guidance that applies to each and every business. So, can a barbering business really scale? Theirs does… because they launched a line of barbering products including razors, shears, air compressors, and wireless charging mats. So if you’ve ever considered direct-to-consumer sales, you’ll want to listen for their advice on doing business overseas (hint: hire a consultant!) and growing sales online. Also, Chris reflects on building a massive Youtube following -- and how providing free education to his 250,000 subscribers helped build his company’s brand and attract high-caliber talent. If you want to change your industry by taking a fresh approach, this episode will leave you inspired and ready to take action today. Download this one now, and subscribe so you won’t miss the next one! In This Episode We Cover: How providing free education can be bring a high ROI How their product line began with mixing shave gel in their kitchen What is a gig economy Tips for traveling to China to meet manufacturers How they negotiated a sweet leasing deal with their landlord “Gatorade marketing” to local youth sports teams Becoming the community hub And SO much more! Links from the Show True Hair Culture Connecticut Barber Expo

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4: Building a 6-Figure Business Buying and Selling Items Online with Bill and Maida Webster

Tue, 21 May 2019 06:00:00 -0000

What does it take to jumpstart your own ecommerce operation right from your home? That’s the topic of today’s show with Bill and Maida Webster, a “retired” Connecticut couple who launched second careers as eBay sellers in the early 2000s. They came to love the wheeling and dealing—and soon realized the earnings would allow them to avoid dipping into their retirement savings. As Maida says, “eBay (literally) floats our boat!” You’ll learn Bill and Maida’s tips for researching comparable sales online and hear how they routinely sell items for as much as 6x the purchase price. They reveal how they source their niche products locally, then market them internationally to create bidding wars (Chinese buyers bidding on a sunglasses case?!). You won’t want to miss Bill and Maida’s story about how they helped an heir to a famous Hollywood couple by selling their belongings on consignment… OR their story about trying to figure out what to do with a U-Haul truck filled with antique dolls. Bill and Maida also reflect on working together as a married couple, and how they divide up their responsibilities (and physical workspaces) to avoid driving each other crazy. J and Carol can relate! This is an entertaining and insightful show that will inspire you to start looking around the house for items to sell. Whether it’s Amazon, Facebook, Craigslist, eBay, or another platform, if you’re looking to create a new income stream by buying and selling online, this episode is a perfect starting point. If you enjoy the episode, make sure you’re subscribed so you won’t miss an episode! In This Episode We Cover: How Bill and Maid were able to start an online business right after retirement Making your "small business" a "real business" Research and other skillsets that you need to start your eBay business The story of their first customer and first products they sold How the market dictates value How they got to the point of having over 2,500 items in their store How Bill was able to personally ship 23,000 items! Using social media and other sites to increase the visibility of your store Why they decided to do something great in their 60s And SO much more! Links from the Show Ebay Amazon Etsy Craigslist

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3: How to Attract Media Attention and Turn Publicity Into Profit with Brent Underwood

Tue, 14 May 2019 06:00:00 -0000

Do you want to know how to get your business noticed by reporters and generate positive press? Today’s guest has made a career out of doing just that. In this episode, he teaches you exactly how to make a splash through innovative (some would say crazy), outside-the-box techniques. Brent Underwood is a creative marketer who’s done publicity for musical artists, best-selling authors, and his own projects—including a ghost town he bought and plans to turn into a high-end resort. Today, Brent tells us how his career began with a cold email and how that led to him working with some of the most talented writers and marketers in the country. Brent also reveals how he gets into the heads of reporters and editors—and how you can do the same. He explains what a “handle” is, and why you need one to get your message to spread. And you won’t want to miss the most important lessons Brent learned after opening his own hostel in Austin, Texas, and how a goat helped boost business. This show is jam-packed with information that will help you generate buzz and get yourself in front of more clients and customers. Download it today, and subscribe to the BiggerPockets Business Podcast so you won’t miss an episode! In This Episode We Cover: Marketing career and Tucker Max story Sending a blind email The type of marketing that his company uses The power of creating an origin story The story of having a goat in the hostel Cost benefit marketing The power of word of mouth The story behind the 300-acre ghost town His thoughts on paid marketing And SO much more! Links from the Show Tucker Max Ryan Holiday 8 Make-Or-Break Business Rules That No One Teaches But Everyone Should Know (blog)

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2: Your Business Shouldn’t Make You Miserable. How to Ensure It Doesn’t with Trevor Mauch, Founder of Carrot.com

Tue, 07 May 2019 06:00:00 -0000

Think about your typical work day. Which activities drain you? Which energize you? And which do you wish you were doing more of? Asking these questions changed Trevor Mauch’s life for the better. In this episode, he guides us through an exercise that can help you do the same! For Trevor, it all began after a scary wake-up call. It wasn’t that his software company wasn’t doing well. In fact, Carrot—which builds high-converting websites for real estate investors and agents—recently landed on Inc.’s list of fastest-growing companies. Trevor even had enough cash to buy the domain name Carrot.com for a jaw-dropping sum (you’ll learn just how much). Instead, the wake-up call was a near-tragedy brought on by his hardcore “hustle and grind” mentality. At that moment, Trevor realized that working nights and weekends wasn’t sustainable. It also wasn’t helping the company, because that routine wasn’t allowing him to grow as a leader. Today, Trevor reveals the system you can use to delegate tasks that drain your energy (even if you’re great at them!). He also drops some great tips for ranking higher in Google and how creating local “content with context” can help you beat out bigger, better-funded competitors. And he reflects on how building a strong, clearly-defined brand has helped attract some of his most valuable team members. The result is an episode that’s part motivational speech, part marketing masterclass. So download, subscribe, and leave us a rating and review if you enjoy it! In This Episode We Cover: How Trevor started his journey to entrepreneurship Building a valuable asset that matters Predictable, consistent finances Focus on unique abilities Singular focus on the big thing Why he thinks building a company around your passion is a path to potential failure The Energy Audit How to build a strong brand Importance of having a great team Practical tips for ranking on Google The domain name story And SO much more! Links from the Show Matt Faircloth's BiggerPockets Profile What Is Your Energy Ratio? GoDaddy Agora Publishing Russel Brunson Mastermind

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1: How to Turn a Hobby Into a Booming Business (Then Get Your Life Back): The BiggerPockets Story with Joshua Dorkin

Thu, 02 May 2019 00:00:00 -0000

If you think you know Joshua Dorkin’s whole story... think again. In this debut episode, the BiggerPockets founder reveals exactly how he bootstrapped a hobby site into the world’s biggest online community of real estate investors. How he worked 100-hour weeks in his basement (and boxers). And how somewhere along the way, it dawned on him that he’d built a “lifestyle business” that left him with no real life. Joshua traces the business back to the days when Myspace was hot, and gives tips for building an online community that still resonate today. He describes a few moments when he almost quit ($15,000 for a website that didn’t work?!), and reflects on why he waited 8 years to make that game-changing first hire (Brandon!). But for as many lives as BiggerPockets has touched, this episode is about something more profound than one company’s growth. You’ll learn what that is when Joshua reveals why he’s been out of the public eye lately, and the reason he stepped back from day-to-day operations just as BiggerPockets reaches new heights. This show will give you a lot to think about -- whether you run your own business or you’re just thinking about taking that leap. It’s a perfect jumping-off point as we launch the BiggerPockets Business Podcast, and help one another make a real positive impact on the lives of our customers, our teams, and our families. Listen now and make sure you’re subscribed so you don’t miss an episode. And follow BiggerPockets Business on Instagram @BiggerPocketsBusiness! In This Episode We Cover: Joshua’s eclectic career path before founding BiggerPockets His first disastrous foray into long-distance real estate investing The void he sought to fill when he launched BiggerPockets How he attracted members to the site by providing value in other online communities The moment he broke down and almost quit How hiring a consultant led him to hire his first full-time employee, Brandon Turner Why employee “fit” is more important than impressive credentials Why sticking to his principles (no gurus, no upselling) was good for longterm business Why he decided not to return to day-to-day operations after taking a leave of absence How he negotiated a partial exit from the business by bringing on a private equity firm And SO much more! Links from the Show BiggerPockets Real Estate Podcast Brandon Turner's BiggerPockets Profile Scott Trench's BiggerPockets Profile BiggerPockets Money Podcast Joshua's Saturday Night Live Cameo Joshua's Personal Website Joshua and Brandon's Book: How to Invest in Real Estate

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Trailer!

Tue, 16 Apr 2019 00:51:35 -0000

Welcome to a real-world MBA for entrepreneurs. This show guides you through what it's really like to go into business for yourself. Your hosts are J and Carol Scott, former corporate managers-turned-house flippers. Every Tuesday, you'll meet founders, marketers, and side hustlers and learn lessons from the trenches of entrepreneurship. From the team that brought you the BiggerPockets Real Estate Podcast and the BiggerPockets Money Podcast (65 million combined downloads)... This is BiggerPockets Business. Episode 1 drops May 2nd... subscribe and stay tuned!

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