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Action Academy | Millionaire Mentorship For Your Life & Business
Every Business Struggle You’ve Wanted to Ask About (Solved Live in a Private Coaching Session) w/ Joe Moffett
00:53:47
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- [00:00]
A
Yeah, I think we can get started. Joe and I were just chatting. He and I met two years ago in Costa Rica. It's cool that he's gonna be joining us again.
- [00:07]
B
So, yes, I'm excited. First and foremost, for those of you that don't know who I am, my name is Joe Moffitt. Great to connect with all of you guys. And yes, we got to be. We got to meet in Costa Rica and I got to speak there, and it's gonna be fun to do it again in Cancun. If you guys are on the fence, I would say let's. Let's make sure you push you over to Edge tonight and get you there, because I will tell you all, all the events are powerful, but there's just something different when you're getting around face to face, belly to belly with people. There's just something that is different about that. So if you've never been to an event, you're on the fence. I would say it's hands down one of the most important things that you can do for yourself, for your future. So I would definitely encourage you guys to. To jump on.
- [00:52]
A
And actually I would say I met Rob Torcell and Costa Rica, and he is now my partner. We've been working in storage together for a year and a half.
- [01:00]
B
Come on. And I was coaching Rob a year prior to that, and then in Costa Rica, he made a shift. And there you go. Now you guys are partners. You guys are crushing. How many. You guys got a few deals under your belt already?
- [01:14]
A
Yeah, we closed. We wholesaled a deal to Hunter in the group last year, and then we closed on one in Texas four months ago and a really nice one off market. And that was when I would say, like, it was on my list from four years ago, but would never have closed it without Rob because he nurtured the relationship for six months. Like, he had the sales experience and knew to follow up. And the seller wanted to sell for two and a half million and in five years and no seller finance. And we got it for 2.1 within four months and with seller financing. So it was like I would have heard that and said, oh, there's no way this is going to work out for me. And Rob just kept following up and following up, and then, yeah, we got one more under contract in Texas as well.
- [01:58]
B
That is unbelievable. And that's what. And see, that's the power of partnerships, right? And so I know I'm preaching to the choir, but if there's anyone that's only a couple weeks New into Action Academy, your biggest asset is meeting people, connecting, finding out, do we have the right values? Do we align in the same vision? Is there a potential partnerships? Because you can only go so far alone. You can go fast alone, but you can't go far alone. And so when you have people that are in that, that position where their strengths are your weaknesses and vice versa, like you guys make each other compatible, I've seen it so many times throughout the last 10 plus years coaching people. I've coached 40,000 coaching calls. I've seen the patterns all the time, I see here all the time. And when you guys, when you can find a good partnership, and I always encourage, start with the divorce in mind first. If everything goes sideways, what do you guys do? But with that being said, you guys can accelerate and rock and roll. All right, real quick. I like to get kicked off with some celebrations. So if we could. Let's just type in the chat really quickly. If you got something that's like you, you're so proud of, you're pumped for, it could be you closing a deal, it could be you having a kid, it could be you catching yourself in a fixed mindset versus a growth mindset, or you found yourself in fear, but you moved on, I'd love to know. Or you could just unmute real quick. I always like to get kicked off with some celebration. So who wants to be the brave one to go first? All right, Christopher, new opportunity in private aviation. Okay, let's go. So we're all going to be flying to Cancun in your private jets, huh? Yeah, I'm looking at the email right now. We could, if you're in, if you're in the Tampa area, we could, we could probably link something up. I don't know. That's awesome. I'm out in the Boise, Idaho area, so I'm a little bit farther. But I'm sure we could get some action southwest of Tampa and then we'll go PJs. Yeah, it doesn't, it doesn't matter how you show up, not how you got like halfway there, but that's it. That's it. Show up in style. I know there's going to be style while we're there. Okay. Solely started a consulting business a month and a half ago. Got 15 contracts and three people hired on your team. Like, how freaking epic is that? Congrats. Let's see. Daniel, first, firstborn, came in this world and got a W2 promotion, 25k pay bump. I love that stuff. It's funny, I'm releasing a reel on why you shouldn't quit your job. And I know it's the antithesis of what Brian teaches here, but that 25k bump, it's like, how can we fund that, funnel that into an asset. Right. And not lifestyle inflation. So that's huge. Hunter just got two units rented out and just had a baby. Let's go. All you guys putting in work with these kids. I love it. All right, let's see. Oakley and I are getting. Getting married in one week. Nice. Love it. Locked. Locked in. My first complete stranger as a paid client. Let's go, Jackson. Freaking pumped for you, man on that. Getting married in one and a half weeks. All right, are you guys having an Action Academy wedding or where everyone's invited or is it just family only? I'd love to know that. Yeah. Everyone brings the gift that everyone is more than welcome to become. How about that? There you go. There you go. Or you could just put your wedding registry, wedding gift registry, whatever it's called on in the Action Academy wall and just get you a present. There you go. So awesome. Look at all these wins. I love this. I can go. We could probably spend all night, but I don't want to waste that. But I did see one person. Is it Annie? Been making some new hospitality and co living property connections while traveling and working in Colombia. Nice. I. That's what I do. I focus on co living and I love it. I think it's. I always say it's single family homes with multifamily returns. Doesn't take a ton of work either. And then seriously evaluating two businesses. Love it. I know Brian's been talking a lot around business acquisitions and yes, by 2030 that we are going to have the largest shift in wealth with these boomers really retiring. So if that's your lane, I would highly encourage you to lean in, partner and get after it. All right, so tonight what I want to do is just open the floor to coaching. Last. I think it was last time I was here, about a month ago, it was that we had some really good breakthroughs. And I want to continue that train leading into Cancun because the only thing that stopped you from where you want to go in your life or your business or your investment portfolio is the way that you think. I remember a line that Tony Robbins said that absolutely changed my life around business. He said the chokehold on any business is a site or on any business is the psychology of the business owner. And I heard that day one, I coached for Tony for almost eight years. And coaching his platinum partners like Brian. And so anyway, with that being said, it's what's our. The way we think determines whether we slow down, we go fast, we move forward, we don't move forward. And so our psychology is the biggest thing that we should observing. But the challenge for a lot of us is we're so freaking busy that we never stop to think about what we actually think about. But I guarantee you, if you really slowed down and started thinking about what you think about, you would actually catch yourself probably, I'd say a good 10 to 25% of the day. Being like, that doesn't make sense. I don't believe. Do I really believe that? But it governs your actions or lack thereof. And so that's why I'm a. It's so funny. Like, I have a coach for me, for my performance, right? I really, I know I'm speaking biasedly here as a performance coach, but after doing it for 12 to 15 years, you just see the patterns. But I have a performance coach, I have a marketing coach, I have a real estate coach. Like I have these coaches in my life. Why? Is it because I can't figure it out or I'm dumb or anything? No, the reason is because you're getting an objective opinion outside that can fold time for you. I don't want to waste years trying to figure it out or journaling for three years just to get an aha moment. I want to be able to say, have someone that has an outside perspective being able to pour into me and say, yeah, that pattern's not serving you. Or that's the reason why you've. It's supposed to be a speed bump, but you made it a wall. And so I want to make sure that tonight we take those walls that are in your mind psychologically and we knock them down. We want to open the highway up so you can just press on the gas and after it. So those limiting beliefs, those mindsets are the things that truly stop us from where we want to go. So with that being said, I want to open up the floor and we're going to just do some live coaching. I would just want to dive in, get after this thing. We could talk. I'd love to know, like, where are you challenged? Where do you feel stuck? What's holding you back? Or where do you think? What do you think is holding you back? Or even so, it's, hey, things are great, but I'm not going as fast as I want to. I want to accelerate that. And so I want to Take this floor and just open it up to anyone around those three areas that really want some one on one coaching. And the best part is it's free. So who wants to go first? This is always the fun part where the first person is the most courageous. But we have that awkward moment in the beginning. So you can raise your hand. Type me in the chat. All right. Oh man, I'm not good with names. G, you're up. You can unmute.
- [09:35]
C
How do you say your name? Hi, it's Gianna.
- [09:38]
B
Gianna. Okay. I don't want to say I was going to say it differently, so thank goodness I did it. Gianna, where are you calling?
- [09:44]
C
Thank you. I'm in Southern Cal.
- [09:46]
B
Ooh, San Diego, Riverside. All right. I was in San Diego and I think it was about 15 years ago. I did home energy upgrade sales and Riverside was the territory I played in.
- [09:57]
C
Okay, sounds good.
- [10:00]
B
What can I coach you on today?
- [10:01]
C
Yeah, so I've been encouraged to lean into my background in the healthcare space and when looking into businesses. And so I'm evaluating a couple businesses right now and I find that kind of where I get stuck is when I'm looking at their financials and then I'm wondering, okay, is everyone that makes a team run smoothly going to like bail once the business is acquired? I don't know how to get over that mental hump. And it really solidified when you were talking about the different things that kind of keep us from going to the next spot. And I think that's it. It kind of like frees. So what are some of the safety rails that are put in place? So you do acquire a business that has licensed clinicians already running it, that it will continue because that's what makes it go right.
- [11:00]
B
And so I'm going to touch on strategy. But this is more a psychology thing for you. When acquiring a business, the biggest thing is having everything in writing, right? That the owner's not going to solicit those workers to come to another endeavor. And sometimes there's even a non compete for the owner moving forward. But here's what I would ask you because it sounds, and you can correct me if I'm wrong, but it sounds like there's some fear to move forward on like an acquisition because you're afraid that you're going to be stuck high and dry, have this big bill and no one to help you correct.
- [11:34]
C
Because I know in the healthcare space like the trend, so I'm a physical therapist. So like the trend is problems securing and keeping good staff. So that's been since the pandemic, it's been exacerbated. So that's what I know. And then I'm just trying to see if there are any guardrails that kind of need to be put in place so that doesn't happen. Kind of like mass scale.
- [12:02]
B
And let me ask you if. Let's just take a moment out and step back. If you were one of the workers and a new owner was coming in, as a worker of that business, what would you want from the new owner?
- [12:18]
C
I probably want to be heard. So if there are any problems or situations, speak with the new owner about that. And then also I would want to know that there's job security.
- [12:32]
B
Let's just touch on this really quickly because job security is a big thing because you're stepping in as an employee from that point standpoint, you're stepping into a world of uncertainty, new ownership, changing. A lot of times we hear companies that merge or shift or get bought out, they want to bring their own people and their own staff in. So there might be some fear around that for them. So what do you think if being heard, but like a big one is job security? What do you think if you were to owner stepping in, what would be probably one of the first things you would address and how would you go about it?
- [13:06]
C
I would want to meet with the staff and see what are some of the current issues, whether with staffing or patients or scheduling, that affects the bottom line that they've seen as employees.
- [13:17]
B
Okay. Anything else?
- [13:21]
C
I would also want to know basically how I can make their life flow better with the business. So whether that is opening up time schedules where they can be available, say if they work two jobs and they can be available for split shifts. So just see what the needs are.
- [13:47]
B
Okay, so if you started implementing that, where you took time for them to be heard, you were looking at helping understand that there is job security here and looking at how you can make their quality of life better at work and at home. And then you didn't even mention the one thing. And I know as a new business owner, we don't want to always do this, but I will tell you, I remember talking to Jeff Hoffman and he said, billionaire from Priceline. And he said. And Brian interviewed him too, but one of the things he said is if you pay your A plus talent more than the position's worth, they won't go anywhere. So number one, most people are there for economics, not always, so we don't want to assume. But there's also an element of fear that they have that you can come in and give them certainty in the moment of uncertainty. And when you do that, they're going to trust you that much more right away. And if you give them a pay bump, that actually might eliminate any thoughts of moving anywhere else. You. Your biggest thing is don't lead with fear. And what I mean is don't focus on that around fear. Just from the fearful component. It's always good to mitigate. Okay, here's some of the issues that could come up if I acquire a business. But the focus isn't on what could go wrong. The focus is on, like we were just talking about, how do we mitigate those and how do we address them. So when I do acquire this business, we're actually solid and we can actually grow and scale from here. That should be your focus. Does that make sense?
- [15:24]
C
I like that. I like that. Yes, absolutely.
- [15:27]
B
And then throw on top of that, your number one job as a business owner. And again, this is Jeff Hoffman 101 for me. But he said, as the CEO, the owner of the company, my number one job is to always look for a plus talent. If you're always acquiring a plus talent, your business is going to go through the roof just by default. Right. And that's what allowed Jeff to go and become a billionaire so quickly. He was like, I just have. Everyone's an A player in my organization. I don't have B players. And just like you said, he took time to sit down with every single one of their people, get to know them, and what is their dream? What is their ultimate goal for working there? And he had them post a picture on their cubicles on where they were so that every day they can envision where they're going. And Jeff actually helped a lot of them achieve it. And then there's a very sentimental story about one guy he helped and his mom moved to Florida, I think it was. So I'm telling you, if you actually care and you focus on growing and giving them certainty in an uncertain time with a transition, I don't think you have anything to be afraid of. I think your biggest challenge is going to be you're going to have people that stick around for a long time now. You're always going to have your outliers. If any of you have ever done a PhD or master's degree in dead studies, you know you're going to have outliers in everything. But for the most part, I don't see a mass drove going away. I think you're, if anything, you're going to have a solid foundation. You're going to be able to build massively from there.
- [17:00]
C
That sounds good. That sounds good. And then also how do you mitigate when they're with insurances? When you're dealing with insurances and there could be like you bill but then the bill isn't paid by the insurance until three or four months later. I was reading one of the financials with one of the companies and they were saying they were starting to implement having the patients pay up front and then when the insurance pays and they reimburse them. But are there any other routes that you are aware of like in that space that kind of will make it not as a desert of funds because you're talking about billing a lot.
- [17:42]
B
Yeah. And that gets messy. That causes more manpower and costs more expenses on the books. Right. And that's why you see. So it's ironic. One of. I have, I have a team of coaches that worked for me for years and one of my, one of my coaches is a physical therapist. He's owns his own clinic in Boston, has been had it for I think 10 years and he, one of the things he had a challenge with was the insurance. And so for him and a lot of physical therapists out there, you're seeing them switch to a lot of just being cash based offices. I don't know if that's a direction you'd like to go, but it definitely eliminates that headache. But it might also reduce some of the overhead. I would say if anything the thought process is just like the same as leaving your W2. You don't jump from your W2 without having a nest egg just in case your business or your investing takes a little bit of a slow period. So I would make sure that there's enough reserves in the bank for that three or four months based on how many patients are coming in on average. And I would have a steady follow up process with insurance. Just many touch points throughout the month for them. Okay. Does that make sense?
- [18:56]
C
Yes. Thank you so much. I appreciate it.
- [18:59]
B
Yeah, absolutely. Thanks for stepping up and going first.
- [19:03]
C
No problem.
- [19:04]
B
Awesome. Cool. Who's next? Who wants to jump in? So who's got a big challenge to everyone just hitting their goals. Everyone's where they want to be.
- [19:15]
D
But yeah, I'd love to hear your experience with the co living. I at first thought I was going to go more into small business acquisition but the co living seems like a combination almost of small business and property. Property acquisition.
- [19:29]
A
So I like.
- [19:29]
D
I'd love to hear your response on.
- [19:30]
B
That look, I'll start off by saying business allows you to accelerate your income quickly. If you got a good business, there's people who buy bad businesses and real estate allows you to build wealth over a longer period of time. However, the belief that I hold is there's different strategies in real estate that can allow you to cash flow quicker and be able to get financial freedom faster. And because you're making more money. And for me I love co living because I'm paying single family prices to get almost commercial returns. And for example, I saw this guy on, on Instagram and he's a veteran and I'm, I have a background in the Marine Corps and so obviously I got targeted and he's, me and my wife are walking this like 50 or 60 unit apartment complex and we bought this when I was in the military. So when I got out I was good to go. And we're cash flowing $3,500 a month and I'm like, man, he probably had to put down like 3, 400 grand for something like that. And I'm like, in my co living I put down like 120 grand and I'm making 3, 500amonth in cash flow. And when I refinance to a lower rate, it's actually going to be four grand a month in cash flow. So from now look, does that happen all the time? No. But in certain cases if you can buy even especially an off market deal, you can capitalize big time on that. So for me I like that strategy. It got my wife excited about real estate. So she was excited. That was the first strategy that like lit her up. So I personally enjoy it because we have that ability to grow quickly, especially if you, if you're good at finding off market deals, you can grow very rapidly. You can make a few four to ten thousand dollars a month income in the year easy. But you gotta hustle. So hopefully that answers your question. Business. I, I'm a big fan of business, especially if you have someone that is managing it for you. At least that's my thought process. And so it's, is this moving you closer to that financial freedom? And this is what I'll, I'm gonna go on a quick tangent here. Everyone says they want financial freedom, but that is not what they want. I will say this in Cancun too. It's but a lot of times it's oh, I want the money, but then it's you can have all the money, but if you don't have the time then to spend the money or Enjoy the money, then what's the point if you're working 60, 70 hours a day? So we think, oh, I want time freedom, that's great. But I have someone I know someone that has time freedom and financial freedom, but they're landlocked. They have to be there for their business, their real estate. And so it's actually you want location freedom too. Ultimately, what I found is, and from coaching people over the years is that you don't, you want those three. But really underneath of all that, what you're really after is mental and emotional freedom. You want to have to not worry and you don't want to have to be thinking about something all day long, hoping it doesn't fall apart. And that's what I really feel like we're all after. Underneath of all of it is how do we create a business or a portfolio that allows us to have the time and location freedom, but more importantly the mental and emotional freedom to say I can enjoy life, I don't have to be tied to this business or this real estate portfolio, et cetera. So anyway, I'll ask this for you. You're making this decision back and forth. What's prevented you from making the decision on going a real estate path or a business path?
- [23:11]
D
I think the investment capital. So it sounds like small businesses get you the cash flow started and then to real estate next. But once I realized you could possibly do residential as a form of co living and then create it to be commercial, it seemed almost like house hacking with extra steps. And that's something that I could start with, I think. But I don't know if that's best, best use of my time to get started.
- [23:45]
B
So getting started. Here's what I will say. Depending on the business that you're looking for, is your goal to make a lot of money so that you can invest it, Invest into more assets.
- [23:57]
D
Yes. And I'm not in a super rush because I. I do like my W2. So I want to find something that it's a business that I believe in and want to scale and build for a long time. So I think I'm almost falling prey to having too many options and I'm trying to narrow down, narrow it down.
- [24:15]
B
Yeah. So then I would ask what is the. What's the lifestyle you want?
- [24:21]
D
I want to have time freedom and location freedom is the biggest thing. I could live on less money, but I'm already working fully remotely traveling in Formia. So it's something I want to keep. I don't want to give that up. But I also know I don't want to be an engineer forever. So I want to start building a business that I can scale, that can grow with me over time. Yeah, longevity, I guess is the thing I want to level up to.
- [24:50]
B
Yeah. And so would acquiring a business and having those responsibilities because every whatever path you go, you're going to have responsibilities. But a business can accelerate your income quicker to be able to invest more. If you go like the path of real estate, it could be a slower path because even if you're making $3,500 a month, that's only 40 grand a year. You know what I mean? Maybe a little over, but 40 grand a year is, it's going to be a lot harder to just take that and reinvest that year after year. It could be slower than if you have a company and I'm not saying to go either way, but a business, if it's going to allow you, the way Brian teaches, to find something that's going to replace your income, let's just say it's 150 grand a year and that's coming in every single year and you have that chunk of change to be able to go and invest into real estate or whatnot and do a co living, you might be able to accelerate that path quickly. I have a private client that I work with that's in my mastermind Gobundance and he's I, he owns a small business but he's man, I just need my real estate to get to about 50, 20 grand a month and he's I'll sell my company. So everyone's thought process and goals are a little bit different. My invitation to you is what write out, get clear on your lifestyle and I know you're pretty much there but will business help you get there or keep that lifestyle or would investing in real estate slash co living help you keep that lifestyle and go from there? Does that make sense?
- [26:18]
D
Yeah, it does. And as I'm ending my first month action academy, if you have clarity piece, I'm still finalized.
- [26:26]
B
Excellent. That was a little loud. That's awesome. And look, I said this when we started the first Costa Rica event and I'll say it now and I'm going to say it in Cancun. If you are not 100% clear, you are 100% unclear. And I live by that. I do that with my kids, I do that with my wife, I do that with people I go into business with. We have to be 100% clear. Otherwise we're not able to Move forward. You're just going to be throwing. You're just going to be throwing things against the wall and hoping it sticks. Versus, and I use this analogy with a client the other day, the sun puts off a ton of energy, but by the time it gets to us on Earth, it just gets us. It just heats us up. But if you could take that sun's energy and put it like this into a laser beam, it can cut through steel. And so we want to stop being like this and be more like this. And when you're clear, the more clarity you get, that's when you become a laser beam, and that's when you hit your goals. You break through barriers a lot faster. So while you're enjoying Columbia, I would just say take some time and really write down, like, what kind of lifestyle do I want? Which avenue is going to give me the best path right there. And I will say this. There is no right or wrong answer. So don't sit in fear that you're going to make the wrong decision. Because the question I pose is, what if every decision you make actually land you to your end goal? Would you be afraid to take a step forward? But we get so caught up in our head around that, and that holds us back from even making a decision. A decision happens in the moment. Everything leading up to that decision is just pondering information, gathering information, and then you get this analysis by paralysis, and it's like you just waste time. And time's the most precious thing. That's why I love coaching, is because it folds time for us and it allows us to move faster. And then you have your pods for accountability or a coach for accountability, either one. And you accelerate faster. So does that help? Okay. Awesome. Thank you. All right, solely, you're up. I hope I said it right. Solely, yes.
- [28:35]
E
Thank you so much. It's nice meeting you.
- [28:38]
B
Nice meeting you. Where are you calling from?
- [28:40]
E
Los Angeles.
- [28:41]
B
La. All right. I was in San Diego, but now I live in Boise. But what would you like some coaching on everything? All right, guys, the rest of the call. Everyone else, hold on. We gotta. No. What's the most important thing right now? The biggest thing that's showing up for you, that's holding you back.
- [29:01]
E
Yeah. So I think for me, it's a kind of a lot of what you had just mentioned with. And I think for me, what I'm seeking for is how to figure out what direction I need to branch off to next in my business. So to preface, I'm the one that started the consulting company a month and A half ago, and it has been, like, crazy. I have never imagined success like this. I have so many clients and people coming through, and I feel like there's a few different ways that it can go. And I'm having difficulty figuring out what direction I want to take it in. So as a preface, what I focused in initially is I help construction projects get permits. No one likes dealing with the government paperwork. And I used to work in local government, so I got all that down. So that's been my big target and where most of my clients lie right now, simultaneously. I'm also a geologist that can do designing septic systems. So I'm trying to figure out if and how these two can align or if I'm just focusing on two separate systems things and need to reel it in. So, yeah, I have big ideas and big dreams. I think for me, this is like the month and a half goal. But what I envision in the future is a whole, like, from concept to construction platform and being able to work with different companies that can provide that. So I guess I'm just. I feel like I'm stuck between two crossroads of trying to figure out where they overlap right now.
- [30:29]
B
Beautiful. So here's my question to you. You say, I feel like I'm in the crossroads are overlapping. My question is, do you even have one road built yet?
- [30:40]
E
I'm building it.
- [30:43]
B
Is that a statement or a question?
- [30:45]
E
I think a question. I feel like it's one of those things where as I'm walking down this trail, I'm building it as I'm walking.
- [30:51]
B
Is this the only thing you're doing right now? Is this like your sole income now?
- [30:55]
D
Yes.
- [30:56]
B
Okay, here's my invitation. I remember I had actually, I think Brian interviewed him on a podcast. One of my buddies, Chandler Bolt, you guys know him. Self publishing school, anyone? Oh, if you're ever looking to write a book, check out and Chandler Bolt, self publishing school. But I remember we were in a mastermind in San Diego. I think it was 2014, and he drew. He was really getting into marketing for the company, and he drew this diagram of an island over here, and then he drew a little person here. And he's. What happens for a lot of business owners is they go and they start making this bridge to the island, and then they're like, oh, look, Facebook ads. And they run all the way back, and then they run to the next and they build another bridge of Facebook ads. And they're like, oh, look, TikTok. And they run over here and create a TikTok. Bridge halfway and they never actually complete the bridge and they wonder why they don't make money. And so one of the things I would say is I wouldn't. You have great ideas or you have great business ideas and they're all going to be profitable more than likely. My question to you would be is, do you have to build both of them at the same time?
- [32:10]
C
Probably not.
- [32:12]
B
What would happen if you take this consulting construction where you're doing the projects or construction projects and doing the consulting for these guys, getting the permits and everything? What would happen if you were, you built a system where other people can do it without you and you were making 250 grand a year?
- [32:31]
E
That I would say is my current goal that I've been leaning towards is I feel like with the permitting part, I'm able to bring on people and really focus on getting those processes down so that someone else can take it over and just let that one run.
- [32:47]
B
So then why would you take your attention from building that into doing something else at this point in time?
- [32:54]
E
Because here's my only hang up is because right now with also designing septic systems, I'm in this interesting golden opportunity where there's only four or so people that do it and we're all having to rebuild the 10,000 homes that just burnt in the SoCal fires, of which at least 300, 400 of them might need new septic systems, whereas there's no opportunity like that in any other scenario. So do I hone in on that opportunity now? That's the battle.
- [33:31]
B
Yeah. I'm just curious which one's going to stand the test of time more.
- [33:38]
E
Probably both.
- [33:39]
B
Okay. Okay, got it. So you have this opportunity, this rare opportunity of the septic tanks. So then the question would be is how can, how quickly can you get people in place in this consulting path to be able to do what you're currently doing?
- [33:55]
E
Yeah, I think it. Hopefully soon, I think it could be in a few months.
- [34:01]
B
Would you miss the opportunity for designing the septics? No.
- [34:08]
E
I wouldn't.
- [34:10]
B
Okay, so you say hopefully soon. What has to happen in order for you to be able to for sure be able to make that happen?
- [34:21]
E
I know I would need to get all my processes in place, definitely have all of my procedures written out and be able to take somebody on that can or a team on that would be able to replicate this process to the point where I feel comfortable with it and would only need them maybe for some questions here and there. But yeah, it would just be getting other people in place in order to Perfect. That.
- [34:46]
B
Beautiful. And how many hours do you honestly work a day?
- [34:50]
E
Like 6ish. 8ish.
- [34:55]
B
Okay, 6, 8, like a normal day. Okay, got it. And what's the possibility if you can get some contracts for the design septic business, what could that do for your pocketbook if you did that also?
- [35:08]
E
Yeah, I could do that too. That would be great and helpful.
- [35:11]
B
How much would that bring in, roughly, you think?
- [35:14]
E
I would say so. I just put out a proposal today of about $30,000 for one profit. Profit, maybe more like 20, 25.
- [35:28]
B
Okay, beautiful. So it's. So then the question I'm curious about is how long is it going to take you to get your systems and processes dialed in? And how many hours a day would you need to put towards that so that you can get someone in there ASAP for sure. So that you can be able to go make 20 to 25 grand a pop on the other side while you're double dipping?
- [35:51]
E
Yeah, probably not too long. Honestly, I think if I just hone down on getting these processes a month or two to really get all the processes in place and just have someone onboarded to read through it and learn it all.
- [36:04]
B
Awesome. Absolutely. Here's what I'm trying to help with is nailing you down to be a hundred percent certain. Hey, you're saying a month or two, that's. That is wishy washy. And I get it. We're not 100% sure on that. But it's. What can we commit to on a daily basis that would allow me to have that system there in a month and a half so that you can have someone take over for you? That's what I'm. That's my charge to you is really to get down. Is like, how could you spend an hour and a half a day to commit to that so that process is knocked out. You can bring someone on board, replace yourself so you can be able to have this business that you can launch too. Does that make sense?
- [36:42]
E
It does.
- [36:44]
B
So that would be my charge to you, all right. Is how quickly can we get that those SOPs and processes and procedures unlocked. You do that, you'll be able to open up the door. But that can be a long stream of income while this opportunity with the wildfires presents itself. So cool. Awesome.
- [37:02]
D
Thank you.
- [37:02]
B
You got it. All right. Thank you so much. And Daniel, you're up. Hey, Joe.
- [37:10]
F
Slight shift. I was gonna sit here and listen to everything you said, and then you said something about a past life of yours doing energy upgrades.
- [37:20]
B
Yeah, it's ridiculous.
- [37:21]
F
I spent 10 years in the Navy. Nuclear power, 10 years doing power plant consulting, regulatory stuff. And what I'm trying to do now is energy reduction for homeowners. So I don't know if that's where you were or congruent kind of thing. But what I'm having the hardest time with is what feels like changing who I am in order to do sales, marketing, all this kind of stuff. So reaching out like I'm smart enough. I operated a damn nuclear power plant for 10 years and I can tell you how everything works and troubleshoot it and all that kind of stuff, but every time, hell just sitting here, my stomach turns. So it's like I gotta go knock on doors to try and sell a heat pump, water heater. Because that's where my first niche I found there's a lot of programs out there and it's a big push state and nationwide, especially over here in Hawaii. Energy costs are ridiculous. Highest in the nation by far.
- [38:27]
B
Yeah.
- [38:28]
F
So my question I guess is two part. How do I change who I am to accommodate that and be able to build it? And number two, what were you doing and how did you do it?
- [38:42]
B
Oh, I was just simply sales rep for about a three to five month period. Nothing significant or anything like that. I didn't have to knock doors or anything like that. So you have two options in this situation for you right now. As it stands, it's not a strength of yours. Correct. So it's not a strength. So you could leverage that out to someone where it is their strength. I just don't know where you are, whether you would want to pay hourly or commissions. Usually it's commissions is a better path. Or you can change the story that you keep telling yourself that you suck at something and that's not who you are. And I know it doesn't feel comfortable, but I'm telling you, the more you do something, the more comfortable you can get. So you get to decide, do you want to build the muscle of shifting and changing and growing your business or do you want to leverage it out? And again, there's no right or wrong. But like for you, what path is what comes up for you? What seems like the most interesting path.
- [39:41]
F
Leveraging out, is a money issue. Like you said, commission is probably the better way to do that. But then there's a lot of other things that hit me, like actually trying to hire somebody that would be good at it and want to help out. But then I also bounce back to the other side of building that muscle because even though I'm Gonna get out of knocking on doors as soon as possible. I'm gonna have to knock on somebody else's door that's a significantly bigger door. So if I don't fix it now, is it gonna hurt me later?
- [40:14]
B
I don't think there's anything to fix. I think it's just something you need to shift. Because fixing something would imply you're broken and you're not broken, but there's a shift and there's a shift in identity that can take place. An area that I know where. Let me ask this. Where's an area in your life like you're really freaking good at analyzing, getting.
- [40:34]
F
Down in the weeds, building out the plan, all that kind of stuff.
- [40:39]
B
Everything I hate to do. Awesome. So your strength is what I hate to do. Great. See, there's a need for everyone out there, right? And everyone has a strength. And so this right here is my strength. Being on camera or not just camera, but like outgoing, talking, presenting. This is my strength. Where. And it just comes more. It's natural to me. Where it's not as much you. Because my. Have you taken the disc?
- [41:04]
F
Yeah, I'm high.
- [41:07]
B
Okay. Yeah, I was gonna say. And I'm guessing your S is probably pretty much up there too. A little. But regardless, cd, you're cautious and you're gonna fight that. If you go knock doors, that's just gonna be an internal battle. You're gonna have to fight with yourself every day. Because a lot of people who are the cautious type, they're the ones that they're always questioning, oh, they're going to find out I'm a fake, I'm a fraud. They're not. They're going to know I'm not good enough. And that's. That plays sometimes consciously, but a lot unconsciously for high seas. But then here's the other part. Your high D, which is the executor, the driven one who makes things happen. And so for you, it's around you, not it's like a car. Have you ever driven a stick shift car?
- [41:50]
F
Learned how to drive in one?
- [41:52]
B
Yes. There you go. You got your best asset is going to be able to shift out of your C and into your D when you go knock doors. And it's going to take a shift in your identity, which I'll come back to in a moment. But that shift is also going to get you from getting out of analyzing, which you're really good at. First gear is easy to sixth gear. That high D to knocking on doors, connecting with people, building that rapport. That's where you're going to have to build that muscle. Shifting your identity from the analyzer. And I'm just making that up to the door knocker again. Making that up is where you're going to have a shift and being more successful than you would be if you just stay where you are. So here's my question to you. When you're, you feel your most strength, your most powerful, when you're analyzing. But there's a power behind that analyzing. And if we had to give that part of you a name that's, that's really freaking good there, what would you name that part of you? And you gotta make it powerful, playful, what would you name, Would that part of you be named? Let me give you a quick example. When I go to the gym, I don't go work out as Joe. When I go to the gym, I step into the identity of beast mode. Why? Because he actually puts out full effort when Joe runs or when Joe works out or runs. I'm no, I'm no, I'm no Jackson over here who runs like 12 miles as a warm up and he does five minute miles over here. But when I beast mode shows up, all of a sudden it's like all systems are go. What's. And we could be playful about it, but it's important to name that part of you because if you don't, you ne. It's like a guy got a puppy recently. If I don't name him, he never knows when I'm asking him to come forward, to come with me to come get something. So we have to name the puppy. And so we also want to name this part of you. And by the way, everyone listening, we all have multiple parts of us. And no, it's not a disorder. All right, so what would that part of you be called? That's just. He's confident, he's powerful. Who is that? Who's that guy?
- [43:58]
F
That's the in the weeds getting shit done guy. That's.
- [44:02]
B
Give him a name. Give him a name. Mr. Solution, Mr. Powerful. I don't care. Have fun with it. Danny the doer.
- [44:11]
F
Oh, there we go. We'll play with that for now.
- [44:15]
B
So here's my question. We'll just play with that. Like you said, if Danny the doer showed up, if that part of you showed up knocking doors, what do you think would happen? Are you going to be confident or are you going to be uncertain in that moment?
- [44:31]
F
Oh, I'll be confident about what I'm knowing, what I know and what I'm talking about beautiful. The connection part's what's going to be hurting me.
- [44:39]
B
Wow. So the first step, which is rapport building. How much have you ever worked on building rapport?
- [44:44]
F
Not a lot because it's always been, hey, I'm really good at this and I'll solve your problem. But it's never been an outreach position.
- [44:53]
B
So it's a new muscle to develop. How many people are on this call investing for the first time in real estate or business acquisition? You can type me in a chat. How many of you? Okay, I'm seeing a few hands. So this is their first rodeo to building their muscle that they're probably a little bit afraid of tackling too. So you're not the only one there, Danny de Doer. You're just having to tackle an area that you haven't put a lot of attention on. Like you have been analyzing deals and getting into the weeds and solving problems. If you took that tenacity and implemented that into studying and practicing and building rapport, you'll have the full package. You just gotta work on building that muscle. And that's something that I can't do for you or Brian can't do for you. Right. It's just something you got to practice over and over. But just like driving the stick shift car, it was a little awkward in the beginning. My guess is you stalled out, but you kept going. It was a little awkward stopping in the middle of a cross street after you got the light and you're like, everyone's looking and honking at you. But after a while, keep practicing. You got the hang of it. And that's the only element. That's the only. It's like those guys at the gym. All they do is work out their body, their upper body, but never their legs. That's the only body part that they need to work on to have the full package. You just need to work on your rapport building skills. And to be honest, it doesn't take a ton of work. I think you could easily get it within a couple weeks just really focusing on that. And I would bring that to your pod and practice with your pod. But I'm telling you, you build that muscle, but bring Danny to do her in that to the door. When you're building rapport too, you're going to see your business have a lot more success than if you just sit there and be passive. Does that make sense?
- [46:41]
F
Yeah. Thank you.
- [46:42]
B
Does that help?
- [46:44]
F
Yes. It's always the thing that's right in front of you, right?
- [46:48]
B
Yeah. Look here's the thing. You step in it. Practice stepping into that identity. Every day I go through the gym sometimes, and I'm walking through, and I'm like, if I was a billionaire, if I was, like, the billionaire, like, walking through this gym, how would I walk? And I just automatically shift my posture. I'm more confident, right? And so it's just a game that I play, stepping into these different identities. And we all do it anyway. A lot of us, we all put a mask on, right? We all put this mask on, especially when we get come in somewhere new. Sometimes we peacock or we try to act more successful than we really are. All you're doing is putting on an identity, right. We're really good at it. But no one uses this particular language that I'm sharing with you to really be able to label those parts of you. But we all do it. So practice with that. And I'm telling you, you're going to shift quickly. Awesome. Thank you. All right, all right. Hey, man. I don't know how to say your name. How do you say your name, boss?
- [47:50]
G
Gianni.
- [47:51]
B
Gianni. Okay, There we go.
- [47:53]
G
All right, all right.
- [47:55]
B
My jersey friend.
- [47:56]
G
Yeah. You started this off with, like, partnership. You go faster. To date, I have been. I'm pretty clear on my vision on what I want, and I have. Partnership has not been part of it as the first step. And the reason why is because it feels like another layer of complexity in something. Like, I've never bought a business, so that's going to be complex enough to now figure it out, how to run it with somebody, how to talk through what the divorce is like before you actually get there. Like, all those are things that are just extra elements that, in my mind, add complexity. So help me understand. I can see it as V2, right. Next business. Yes. Help me understand why I. Or should I reconsider that where I'm at right now.
- [48:43]
B
You don't have to partner. I've just seen.
- [48:46]
G
But I want to understand why you say it's. You're gonna go faster, bigger, badder. Elon Musk doesn't have a partner, Right. These guys, they have people that work for them. They hire good people. I know how to do that, but I'm trying. I hear this all the time. You're not the only person that says it. I want to understand what am I missing in this concept?
- [49:05]
B
Yeah. Great question, man. This is. Great question. This is huge. Most people partner because they're broke. And I don't mean it in a bad way. It's just like, they Partner. And I'm not saying this is for every case, but most people do it because they don't have the funds to actually hire people that can do the work for them. So they take, hey, you got this strength, and that's my weakness. But I got this strength, and that's your weakness. Let's work together. We'll wear everyone who starts a business, or usually the starts. They wear like, five, ten different hats. And if I can spread all those hats out, then that's worth it to me. But if you can hire people and you're damn good at it, then I would go that route because then why are you giving up more of the pieces when you could just hire people, provide for another family, and grow your business?
- [49:54]
G
Okay, so I'm. Thank you. Because I hear this a lot and you listen to these podcasts and everyone's find your partner superpower. I don't. I'm not here to tell you that I have every superpower by no stretch of the imagination. I know, but I don't know. I feel like it just adds complexity. So thank you for helping me get through what, you know, understand and validate a little bit more how I think about this. Appreciate that.
- [50:20]
B
You got it, man. And here's what I will say. Everyone is every. You know, anyone who's crazy in the beginning, right, they're going. They're going to do unorthodox things. People are going to say, oh, that's not the way to do it yet. They do it right. Elon Musk is doing things no one else. What's that?
- [50:40]
G
I said, we're from Jersey. We're born that way.
- [50:42]
B
And now. Yeah, I was going to throw that in there, too. We're bred. We're born a little bit different. And. But, yeah, if that lightens the load for you, run with that. And here's the thing. If you strike out, then you strike out. My biggest thing. And I teach my kids this is, did you take your freaking swing? Most people, they don't take their swing. And so you're like, hey, I can do this. I know this. I want to control this. Which most Jersey boys, we want to control our thing. So, Dane, if you have the money to go hire, then go hire people, because you can tell your employees, tell them, you know what they need to do, whereas a partner, they might not agree with you. And then you got this mass headache and you're going, you're fighting back and forth. And I've seen it. It just. It slows down growth. It slows down the business. But it can also be an asset too. If you have everything on paper says the divorce in mind. This is how we go. Most people, if they're clear on their roles and responsibilities in a partnership and you have that divorce implanted in, in, in an agreement, you know what to do. So most people are going to abide by it and it can be successful. But if you can hire people, go hire people, man.
- [51:47]
G
Well, man, I appreciate it. Thank you.
- [51:50]
B
Awesome. Awesome, man. Good. I love that. Those are the quick little breakthroughs that are life changing. And because, look, he could be giving up parts of his company instead of just running after hiring people to do what he needs to do. So with that. Okay, so before we wrap up here, here's what I will say. Just a couple closing things that I think is really important is first, thank you to everyone who stepped up, had the courage to say, hey, here's where I'm getting snagged up. Because when we can unhook you like a fish, when we can unhook you, you can be able to swim a lot faster on your path to your freedom and to your goals. And we get to spend only a certain amount of time I try to knock through, but for a lot of you on here, well, there's quite a few on here that I personally coach one on one. I know I coach Caitlin. She's not, she's not in the game right now because she's got 17 kids that she's attending to with the newborn, which we love her. But so with that being said, what I've found is a lot of times we just get in our own way and when we're in our own way, it slows down our growth. What I'll say is that if anyone has anything that they wanted to say but they didn't want to speak up tonight, that's okay. I'm going to put my IG in the chat and if you want to follow me and send me a message, I'll send you back. I will tell you. Brandon and Rob, they met and they partnered in Costa Rica. You might be meeting your partner there. You might be meeting your capital partner there. I coached Ben Call for years and the first time we ever met was in Costa Rica. And it was just so cool to see him grow and then present and now he's this monster like everyone wants. Ben, he's the man, man. And if you don't know who Ben is, you definitely want to get to know him. So anyway, if you're interested, reach out. Other than that, I appreciate you guys. Look forward to the next call and thank you, everyone who stepped up. You guys have a great night, and we'll catch up on the next one. Or in Cancun. Talk soon, guys.
- [53:46]
A
Thanks, Joe.