Join Brett Jennings in this episode of The Real Experts podcast as he interviews Mike Schumm, a serial entrepreneur who has built multiple businesses from scratch. Mike’s journey didn’t start with a clear path. From his humble beginnings in Long Island to becoming a successful business owner, Mike’s story is one of grit, adaptability, and lessons learned through real-life experiences.

Mike’s early years were shaped by hardship, and his first ventures involved small jobs like painting fences and mowing lawns to help him escape his tough environment. Eventually, he moved into larger endeavors, from running a painting business to growing a million-dollar meat distribution company, all while balancing family commitments. His relentless pursuit of success led him to the world of real estate, where he built a seventh-level real estate team and learned how to delegate and scale effectively.

In this episode, Mike shares insights on managing partnerships, dealing with failures, and the importance of systems and processes in business. From overcoming bankruptcy to finding new opportunities, Mike’s story is full of valuable lessons for anyone looking to grow both personally and professionally.

Here are the key takeaways:

(3:28) How a simple hustle earned enough to buy a car as a teenager

(9:02) Learning on the job to grow a booming business

(15:09) How one family decision brought down a successful business

(21:00) The power of niche marketing in business growth

(24:48) Growing a business from $200 a week to $1 million

(31:16) The key hire every business owner needs to scale

(35:13) Lessons learned from closing deals with high-profile clients

(39:41) What’s more important to clients – you or your team?

(44:43) Can a business bounce back stronger after bankruptcy?

(49:36) Balancing family and business for long-term success

(51:28) Can saying "no" drive business growth?

Tune in to hear how Mike's approach to life and business challenges can inspire you to take bold steps, embrace the unknown, and focus on creating long-term success.

About Mike Schumm

Mike Schumm is a real estate investor and coach with over 35 years of experience. He is the co-founder of Profytz Coaching, which is focused on real estate coaching. Over 30 years as an entrepreneur, he has built businesses in residential and commercial real estate, mentoring and scaling enterprises across North America with over 10,000 hours of coaching experience. Mike prioritizes time with his family, especially his son Mikey while balancing his professional responsibilities.

Contact Mike at:

Website

LinkedIn

Instagram

About Brett Jennings

Brett Jennings is the founder of Real Estate Experts and a recognized figure in the real estate industry, known for his expertise in luxury home marketing and negotiation, certified by Harvard Law. His achievements include being named in the top 1/10th of the top 1% of real estate groups by the Wall Street Journal. Beyond accolades, Brett is passionate about coaching clients through real estate decisions to impact their lives positively. His unique approach combines real estate knowledge, financial insight, and life coaching, ensuring clients navigate the market confidently.

Contact Brett at:

LinkedIn

Website

EP07: From Surviving to Thriving: Mike Schumm's Formula for Turning Failures into Fortunes

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