00:00:00.000 --> 00:00:00.560
In 08.
00:00:01.040 --> 00:00:08.800
I remember when I filed my taxes for 2008, my reported income to the IRS was negative to 50,000.
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Right.
00:00:09.919 --> 00:00:12.720
Which means my expenses exceeded my revenue.
00:00:13.119 --> 00:00:14.640
And that wasn't a tax strategy.
00:00:14.960 --> 00:00:16.399
That was not a tax strategy.
00:00:16.480 --> 00:00:18.719
That was real, right?
00:00:19.519 --> 00:00:22.879
If you're an entrepreneur who's built success, built stuck in the ground.
00:00:22.960 --> 00:00:24.239
This podcast is for you.
00:00:24.399 --> 00:00:29.519
On the Live More Show, we give you short, powerful conversations to help you become more tax savvy.
00:00:29.679 --> 00:00:31.359
I'm rich and totally free.
00:00:31.519 --> 00:00:33.359
Here's your host, Melanie Sigma.
00:00:38.880 --> 00:00:42.240
Most people who get hit by a market crash don't come back.
00:00:42.399 --> 00:00:49.759
They recover, maybe, but they don't come back bigger, more generous, and on mission to help 100 other people build millionaire-level wealth.
00:00:50.000 --> 00:00:51.600
My guest today did exactly that.
00:00:51.759 --> 00:01:05.280
Steve Trang started a real estate in 2007, got wiped out in 2008, rebuilt from foreclosure, and went on to build an eight-figure empire, a 700-episode podcast and one of the most generous movements in real estate industry.
00:01:05.519 --> 00:01:08.319
Steve, let's go back to 2008.
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What happened there?
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2008 was the real estate market crash.
00:01:13.760 --> 00:01:19.519
And I got into real estate in 2007 because I have irrational confidence.
00:01:26.239 --> 00:01:28.480
And I got a very humbling lesson in 08.
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In 09.
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In 08, I remember when I followed my taxes for 2008, my reported income to the IRS was negative 50,000.
00:01:38.959 --> 00:01:39.200
Right.
00:01:39.599 --> 00:01:42.560
Which means my expenses exceeded my revenue.
00:01:42.799 --> 00:01:44.480
And that wasn't a tax strategy.
00:01:44.719 --> 00:01:46.159
That was not a tax strategy.
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That was real, right?
00:01:48.560 --> 00:01:49.040
Oh man.
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Yeah, that was just not a good time to get in the real estate market.
00:01:51.359 --> 00:01:56.879
And being a brand new business owner, I think some of the newer some of the seasoned business owners may appreciate this, right?
00:01:57.040 --> 00:01:59.280
When you're new, you believe everything works, right?
00:01:59.439 --> 00:02:05.359
If you spend money here, like it's going to turn into this, and all you need is just like one sale from this, it's going to pay for itself, right?
00:02:05.519 --> 00:02:09.360
All these things, like, man, the number of stupid things I signed up for.
00:02:09.759 --> 00:02:12.960
Believing the salesperson that this is going to work for me.
00:02:13.120 --> 00:02:13.840
So yeah.
00:02:14.639 --> 00:02:14.960
I love that.
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Um, yeah, even face foreclosure in 09 because of losing really everything.
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Wow.
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Yeah.
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Yeah.
00:02:22.159 --> 00:02:25.919
Her mozy talks about the set the cycles of entrepreneurship.
00:02:26.479 --> 00:02:29.520
And that's what he describes as the valley of despair.
00:02:29.680 --> 00:02:35.039
It's like you think everything's gonna be easy, and then you realize, oh, it's really not, and you get humbled.
00:02:35.120 --> 00:02:39.919
And then from there, if you keep going, you can actually go up and get realization of your goals.
00:02:40.000 --> 00:02:40.639
So yeah.
00:02:40.800 --> 00:02:46.560
What was really encouraging that time was there were other realtors who do not fare well, other realtors and some clients.
00:02:46.719 --> 00:02:58.479
And what they were saying the whole time is like, we know it's really hard for real estate right now, but if you make it through this, you're gonna do really well because like you work really hard and you actually care.
00:02:58.719 --> 00:03:02.080
It's like okay, well, I'm gonna keep writing this until I figure this out.
00:03:02.319 --> 00:03:02.719
Yeah.
00:03:02.879 --> 00:03:04.639
Did you ever want to throw in the towel?
00:03:04.879 --> 00:03:13.919
I never wanted to throw in the towel, but in that time, my wife talked about because of how stressful it was, like she the word divorce was thrown out a few times.
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Fortunately, we made it through.
00:03:15.759 --> 00:03:19.199
But that was thrown out a few times, and she asked me, like, just go back to your job.
00:03:19.360 --> 00:03:22.719
Go back and go back to Intel and ask for your job back.
00:03:22.879 --> 00:03:23.919
And it's like, all right, fine.
00:03:24.000 --> 00:03:25.280
Like in the moment of weakness, I did.
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I went back.
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And fortunately, they're like, hey, we are too broke to even hire right now.
00:03:30.000 --> 00:03:32.560
And so thankfully, they didn't take me back.
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Otherwise, I would not have the life I have today.
00:03:34.639 --> 00:03:39.280
So yeah, there was throwing in a towel, but that was out of like care for her than it was like for me giving up.
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That's a good husband.
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Yeah.
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Now, and she's probably happy that it didn't work out that way.
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I don't know.
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I think she still prefers like a steady paycheck versus a roller coaster of entrepreneurship.
00:03:50.879 --> 00:03:51.199
Yeah.
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Do you feel like that season was good for you?
00:03:53.680 --> 00:03:59.759
Like, do you feel like what you walked away with that made you be able to do what you do now?
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Or do you feel like you just looked at the value of that?
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I needed to get crushed because of my I was cocky, right?
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Up to that point in my life, I've been able to do everything I wanted to do at a very high level.
00:04:12.159 --> 00:04:15.599
I went to ASU for engineering, that was easy.
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Went to grad school, that was not easy, but made it through.
00:04:18.959 --> 00:04:20.000
I worked at Intel.
00:04:20.079 --> 00:04:21.839
I was working 25 hours a week at Intel.
00:04:22.079 --> 00:04:25.040
Intel has its reputation of being like this sweatshop where everyone works crazy hours.
00:04:25.199 --> 00:04:33.040
I was working 25 hours a week, taking hour-long lunches, rolling in late, taking hour-long lunches, leaving early to go play basketball at lifetime because that's where all the NFL players played.
00:04:33.199 --> 00:04:35.360
Up until that point, my life was really easy.
00:04:35.759 --> 00:04:36.079
Yeah.
00:04:36.800 --> 00:04:43.519
So I needed that crushing uh of the ego in order to be the person I eventually became.
00:04:43.839 --> 00:04:44.160
Yeah.
00:04:44.319 --> 00:04:44.560
Yeah.
00:04:44.720 --> 00:04:50.160
I would say, yeah, humility, it builds humility, which allows you to do what you're doing now, probably.
00:04:50.240 --> 00:04:50.879
So that's great.
00:04:51.120 --> 00:04:51.519
Exactly.
00:04:52.160 --> 00:04:57.759
Now, going back, how long was that stretch where it was really difficult in 2008?
00:04:57.839 --> 00:04:58.800
How long did that last?
00:04:59.040 --> 00:05:11.360
Like a year and a half, two years, because at that time I was doing short sales, but the foreclosure business, the REO business, listing properties for banks was a thing, and it was hard to get into, but I was able to get into it in 2009.
00:05:11.600 --> 00:05:13.920
And it was just through creative strategies, right?
00:05:14.000 --> 00:05:16.879
And a lot of things, a lot of situations, the front door is sealed shut.
00:05:16.959 --> 00:05:23.120
They'll tell you go to bankamerica.com, go to wellsfargo.com and apply to become one of our realtors for listing properties.
00:05:23.199 --> 00:05:24.399
But it's a complete sham, right?
00:05:24.480 --> 00:05:26.079
They don't hire anyone through the front door.
00:05:26.480 --> 00:05:28.639
And you got to go through the back door or the side door, whatever.
00:05:28.720 --> 00:05:40.639
And so what I used to do at that time, 09, was I just took what was left on my credit card and I paid for hotel, airfare, and then paid to go to these REO events, these conferences where the bankers are at.
00:05:41.199 --> 00:05:44.800
And it was through there that I was able to get these accounts.
00:05:44.879 --> 00:05:47.199
Now, even going to there, that's still not enough, right?
00:05:47.279 --> 00:05:50.639
Training business cards, you're still one of these random faces.
00:05:50.959 --> 00:05:59.920
What I was doing is I was very intentional, was I was finding all the bankers, getting their cell phones, and then inviting them to go out to the clubs and go drinking and buying bottle service for them.
00:06:00.160 --> 00:06:08.879
Um and it was through going, taking them out drinking and buying them bottle service and all these other shenanigans that was able to get these listings from the banks.
00:06:09.279 --> 00:06:13.360
It's the personal stuff, the yeah, the building friendships, right?
00:06:13.680 --> 00:06:14.879
Exactly, exactly.
00:06:15.199 --> 00:06:19.759
Now, leading into that, you're now known as one of the best sales trainers in real estate.
00:06:19.839 --> 00:06:23.600
So, how did you get to that from where you were at there to where you're at now?
00:06:23.920 --> 00:06:24.560
Lots of pain.
00:06:24.720 --> 00:06:27.839
Again, starting in 07, I quit Intel as an engineer.
00:06:27.920 --> 00:06:35.199
So I was a horrific salesperson, probably one of the worst you'd ever meet, because I explained everything logically, factually, and I thought that's how everyone wants to buy, right?
00:06:35.439 --> 00:06:36.480
That's how I wanted to buy.
00:06:36.720 --> 00:06:39.360
And so that clearly failed for a very long time.
00:06:39.519 --> 00:06:44.399
And you pick up the books, you listen to CDs back then, audiobooks eventually.
00:06:44.720 --> 00:06:53.040
And it wasn't until 2018 where I actually worked with someone who was also a certified, or not certified, he who was a sales trainer.
00:06:53.439 --> 00:06:58.000
And it wasn't until I met him that everything I learned up to that point clicked.
00:06:58.240 --> 00:07:05.759
Because I've had all the bad experiences trying to buy people's houses, trying to list their houses on the market, showing buyers houses and so on.
00:07:06.000 --> 00:07:09.199
Had all these experiences where I couldn't quite get over the hump.
00:07:09.360 --> 00:07:12.160
And I got all the books, so I got like all the one-liners, right?
00:07:12.240 --> 00:07:14.399
They say back when I was realtor, you asked, What's your commission?
00:07:14.480 --> 00:07:17.040
And I always say something along the lines like, What's more important to you?
00:07:17.199 --> 00:07:20.879
The amount of commission you pay or the amount of money that makes your bank account after we sell your house.
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Okay, cool.
00:07:22.959 --> 00:07:23.920
So it's not really about the commission then.
00:07:24.000 --> 00:07:24.879
They're like, No, it's not realistic.
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Okay, great.
00:07:25.839 --> 00:07:35.600
So we all like you learn all these one-liners over the years, but it wasn't until 2018 where I actually hired a sales trainer that all my experience clicked.
00:07:35.680 --> 00:07:40.560
And then from that, I was able to share through my experience what's worked for us, and then translated that.
00:07:40.639 --> 00:07:48.240
And through all that, basically what I was able to do was this really nerdy way of saying that we reverse engineered sales, and that's what we can teach.
00:07:48.959 --> 00:07:50.720
Yeah, that would make sense.
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I'm just picturing an engineer selling, and I it's very probably very detailed, like giving him facts, laying out everything.
00:08:00.879 --> 00:08:04.560
Let me show you this 15 comps to justify why your property is worth what it's worth.
00:08:04.879 --> 00:08:05.040
Right?
00:08:05.120 --> 00:08:07.040
Let's go buy square footage and so on.
00:08:07.120 --> 00:08:09.279
Yeah, that's hilarious.
00:08:09.439 --> 00:08:14.720
So you saw the, I guess, the value that it brought to you, and so then you wanted to share that with others.
00:08:14.959 --> 00:08:23.199
No, actually, what I did was after I got it working for myself, I trained my team on it and we demonstrated who our team.
00:08:23.360 --> 00:08:27.279
And what happened is I'm in Phoenix, and so like there's like a lot of big operators here, right?
00:08:27.360 --> 00:08:31.839
So we had Jesse Burrell, Jared Vidalis, Pace Morby, like all these other people out here.
00:08:32.000 --> 00:08:32.399
Yeah.
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And they're asking me to train their teams.
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I was like, okay, that's cool.
00:08:36.159 --> 00:08:37.200
What honor, right?
00:08:37.440 --> 00:08:40.879
And then I spoke on stage at an event, and I was like, let me go ahead and share what's working for me.
00:08:41.039 --> 00:08:47.360
And from there, the amount of people that said, Hey, like, you've got something that I need.
00:08:47.600 --> 00:08:48.799
Can you teach me?
00:08:49.120 --> 00:08:54.240
And being a capitalist, like, we've got something here that we can monetize.
00:08:54.559 --> 00:08:55.279
That's great.
00:08:55.440 --> 00:08:58.080
So it just is out of pure need, that's great.
00:08:58.480 --> 00:09:06.639
So, what would you say is the biggest mistake that acquisition reps, sales reps make when they're on the phone with somebody that is motivated?
00:09:06.960 --> 00:09:12.080
Some of the biggest mistakes, the desire to be liked, and someone asks you a difficult question.
00:09:12.320 --> 00:09:14.720
They say up front, what's what are you gonna pay for my house?
00:09:14.960 --> 00:09:20.159
You have to be willing to not be liked and not answer that question because like it's really like you know the answer.
00:09:20.320 --> 00:09:22.000
So why don't we give it to them?
00:09:22.159 --> 00:09:22.399
Right?
00:09:22.559 --> 00:09:24.399
So that was one of the hardest things.
00:09:24.559 --> 00:09:29.120
The second thing is to understand that people don't buy rationally.
00:09:29.440 --> 00:09:31.840
This is 100% an emotional decision.
00:09:31.919 --> 00:09:36.000
There's not a 99% emotional, not a 50% emotional, it's a hundred percent emotional.
00:09:36.480 --> 00:09:51.039
So we gotta build this, we gotta remind the homeowner like how much pain and despair and everything that they've been going through the last three months to the last maybe three years, and how awesome it's gonna be when this is all done, right?
00:09:51.360 --> 00:09:53.120
And help them understand this gap.
00:09:53.519 --> 00:09:55.840
And then ultimately it's like, but what if we can't make this happen?
00:09:55.919 --> 00:09:58.399
So one more like take it away from him.
00:09:58.639 --> 00:09:59.039
Yeah.
00:09:59.279 --> 00:10:03.440
And it's that emotional journey, they're like, please just help me out right now.
00:10:03.919 --> 00:10:05.120
So we have to go through all that.
00:10:05.200 --> 00:10:09.120
And so the going through the emotional journey, I say that's a uh second big thing.
00:10:09.200 --> 00:10:10.639
And then what else is there?
00:10:11.120 --> 00:10:23.600
There's the trying to convince people think sales is a convincing role, which is understandable because if you if you think about when you watch movies, they always portray salespeople as just these monsters.
00:10:23.919 --> 00:10:29.600
And then we go to our experience when we're buying a car or buying some expensive product, and we deal with a pushy salesperson.
00:10:30.000 --> 00:10:33.440
But the reality in sales is I compare it to officiating and sports.
00:10:33.679 --> 00:10:38.000
How can you tell a game is well officiated in sports, you don't notice the refs, right?
00:10:38.320 --> 00:10:40.159
A well-efficiated game, you don't notice the refs.
00:10:40.320 --> 00:10:43.279
But a poorly officiated game, you really notice the officiating, right?
00:10:43.440 --> 00:10:44.639
Yeah, it's the same thing in sales.
00:10:44.720 --> 00:10:48.960
If a really good quality, if it was a really good sales conversation, you don't even notice the salesperson.
00:10:49.440 --> 00:10:51.679
But if you notice it was because it was a bad salesperson.
00:10:52.240 --> 00:10:53.039
I like that.
00:10:53.279 --> 00:10:56.799
I always equate sales, good sales to being service.
00:10:57.039 --> 00:11:01.759
So you're not really talking them into anything, you're just helping them get what they want and what they need.
00:11:02.000 --> 00:11:02.480
Exactly.
00:11:02.639 --> 00:11:08.159
That and helping them get out of their own way is because it's their own reasons that they don't get what they want.
00:11:08.480 --> 00:11:09.120
That's good.
00:11:09.279 --> 00:11:10.080
That's good.
00:11:10.399 --> 00:11:16.720
I've also heard it's like uh exposing a wound and then pouring salt on it so that they can feel it.
00:11:16.879 --> 00:11:18.000
Would you agree with that or no?
00:11:18.240 --> 00:11:19.440
Oh, even more than that.
00:11:20.080 --> 00:11:21.440
Not even pouring salt on it.
00:11:21.679 --> 00:11:23.759
We might use our fingers to really make sure the salt gets in there.
00:11:24.000 --> 00:11:26.639
Yeah, and rub it in, pour a little alcohol.
00:11:27.919 --> 00:11:29.840
Oh, that's making me cringe.
00:11:30.080 --> 00:11:35.919
Now, you built objection-proof selling around the idea that the best salesperson doesn't overpower.
00:11:36.000 --> 00:11:36.960
So we just talked about that.
00:11:37.120 --> 00:11:38.480
They remove the objections.
00:11:38.559 --> 00:11:40.159
What does that actually look like in practice?
00:11:40.320 --> 00:11:44.080
So removing objections, um, yeah, getting out of their way.
00:11:44.240 --> 00:11:44.399
Yeah.
00:11:44.720 --> 00:11:47.200
So the biggest thing is we talk about a concept of zooming out.
00:11:47.279 --> 00:11:52.639
And so, like, if they want to, for example, be closer to their grandkids, right?
00:11:52.799 --> 00:11:56.080
A common reason we're buying people's houses, they want to be closer to their grandkids.
00:11:56.639 --> 00:11:59.759
And then they'll say, But I need more money.
00:12:00.080 --> 00:12:08.799
And so when they say I need more money, they treat it as it's your price versus my price, and it's purely like we're operating in a vacuum, right?
00:12:09.600 --> 00:12:19.519
But realistically, if we look zoom out, what's happening is they're wanting an extra$30,000 is preventing them from being closer to their grandkids right now to come into their home, right?
00:12:19.600 --> 00:12:20.480
Like things I've said before.
00:12:20.559 --> 00:12:27.519
It's like when someone invites you, when someone invites a complete stranger into their home, it's because there's a problem that they've recognized they can't solve on their own.
00:12:27.840 --> 00:12:32.559
And so instead of me comp uh beating them up on price, I was gonna bring it back to them.
00:12:32.799 --> 00:12:39.360
Melanie, what I'm hearing from you right now is you want to get more money for your house, you want to get as close to top dollar as possible.
00:12:40.080 --> 00:12:51.679
And what I heard you say earlier was that it's killing you that you're not close to your grandkids, that you felt you you failed as a parent with your kids, and now is your time to make it up with your grandkids.
00:12:52.639 --> 00:12:58.639
And from our conversation so far, it sounds like getting more money right now is more important than being there with your grandkids.
00:12:59.759 --> 00:13:03.840
And they're like, And then now we're we're zooming out.
00:13:04.000 --> 00:13:04.639
What's more important?
00:13:04.799 --> 00:13:06.000
The grandkids or the money.
00:13:06.240 --> 00:13:07.759
Because if it's the money, there's no judgment here.
00:13:08.000 --> 00:13:09.120
I would probably value money.
00:13:10.000 --> 00:13:10.720
Grandkids, right?
00:13:11.039 --> 00:13:14.000
But if it's the grandkids, like, well, which is it?
00:13:14.159 --> 00:13:21.840
And now I'm putting it back on them where they're making the choice and they're expressing agency and autonomy, right?
00:13:21.919 --> 00:13:22.720
It's their decision.
00:13:22.799 --> 00:13:24.240
I'm not saying take it or leave it.
00:13:24.320 --> 00:13:25.679
We're not just arguing about price.
00:13:25.759 --> 00:13:29.759
It's like, look, you want a higher price, let me send you to one of my realtor buddies.
00:13:29.840 --> 00:13:31.039
I'll get you the most amount of money.
00:13:31.519 --> 00:13:31.679
Right?
00:13:31.759 --> 00:13:37.360
But if you're saying it's killing you that you're not with your grandkids right now, I can make this happen for you.
00:13:37.679 --> 00:13:40.240
So you want the time with your grandkids, or you want more money?
00:13:40.320 --> 00:13:42.399
Because you want more money, I'll connect you with my realtor buddies.
00:13:42.480 --> 00:13:43.039
It's not a problem.
00:13:43.279 --> 00:13:44.399
There's no sweat off my back.
00:13:44.480 --> 00:13:45.840
I don't need to buy your house.
00:13:46.159 --> 00:13:47.919
You tell me what you want what you need.
00:13:48.159 --> 00:13:48.960
And it's their decision.
00:13:49.039 --> 00:13:50.240
So it's not an objection anymore.
00:13:50.480 --> 00:13:52.879
They've they're choosing what they want.
00:13:53.200 --> 00:13:54.399
That's amazing.
00:13:54.639 --> 00:14:04.240
Now, the people like our listener is they're listening to the Live More show to pull themselves out of their business so they can use their business to live a life they love.
00:14:04.480 --> 00:14:06.960
Our listener is not going to want to be in sales forever.
00:14:07.039 --> 00:14:18.000
And so, what's the best thing they can do to prepare a sales rep to be able to train them so that they can do this kind of stuff and building up their their systems, all that stuff to be able to do that?
00:14:18.240 --> 00:14:20.720
Because that that's a skill that you just shared.
00:14:20.879 --> 00:14:21.200
Yes.
00:14:21.519 --> 00:14:23.919
It takes time and energy to build that skill.
00:14:24.159 --> 00:14:25.440
Yeah, there's a few different ways, right?
00:14:25.519 --> 00:14:27.120
Depending on how much money you want to invest into this.
00:14:27.360 --> 00:14:28.480
There's the books, great books.
00:14:28.720 --> 00:14:33.279
Never split the difference by Chris Voss, Can't Teach a Kid Right Bike at a seminar by David Sandler.
00:14:33.360 --> 00:14:34.639
There's gap selling by Keenan.
00:14:34.879 --> 00:14:35.919
There's great books out there, right?
00:14:36.320 --> 00:14:37.360
Or you buy courses.
00:14:37.519 --> 00:14:38.879
Jeremy Minor is a big name out there.
00:14:38.960 --> 00:14:39.919
He's got NAPQ.
00:14:40.080 --> 00:14:42.960
I've got my course out there, which we have for free now on YouTube.
00:14:43.440 --> 00:14:44.639
There's great courses out there.
00:14:44.799 --> 00:14:50.000
And then is you if you want to go even further, there's software or training with someone.
00:14:50.080 --> 00:14:51.919
We offer sales training, and there's a lot of other sales trainers.
00:14:52.000 --> 00:14:54.080
I just mentioned there's a lot of sales trainers out there, right?
00:14:54.159 --> 00:14:54.879
So we're one.
00:14:55.039 --> 00:15:03.759
And then we have objection proof AI, which is our latest thing, which reviews every single sales conversation and says here's an area for improvement from your salesperson.
00:15:04.080 --> 00:15:05.919
Long answer to your question, it's just investing your team.
00:15:06.000 --> 00:15:08.960
It's how much you want to invest in your team to get out of it.
00:15:09.200 --> 00:15:17.679
We have a lot of clients, we have over 200 clients that invest in their teams with us to get them the results that we can see as providing RI because they stay with us.
00:15:18.000 --> 00:15:20.799
But yeah, it really just comes down to like how much you want to invest in your team.
00:15:20.960 --> 00:15:35.759
The the biggest thing is we've seen from a lot of business owners the reason why other things they've said to us why they invest with us is that most business owners naturally are pretty good at sales, but they can't teach it because they're good at it.
00:15:36.080 --> 00:15:36.320
Right?
00:15:36.480 --> 00:15:39.279
The reason why I feel qualified is because I was an engineer and I sucked at sales, right?
00:15:39.440 --> 00:15:47.600
But like take someone like if you were to say Michael Jordan as your basketball coach and like you're struggling, he can't empathize with like your situation.
00:15:48.080 --> 00:15:49.840
So you can't jump really high.
00:15:50.159 --> 00:15:51.200
Like just jump higher.
00:15:51.279 --> 00:15:52.320
Why didn't you jump higher?
00:15:53.200 --> 00:15:53.919
That's true.
00:15:54.159 --> 00:15:59.679
So, and this is what we see with a lot of great business owners is that they're naturally good at sales, so they can't teach what they know.
00:16:00.159 --> 00:16:01.120
It's so true.
00:16:01.440 --> 00:16:04.480
So you have to have someone that can do it for you.
00:16:04.799 --> 00:16:06.159
It's a different skill set.
00:16:06.320 --> 00:16:12.960
It's when I played water polo, I was a very good water polo player, and then I went to go coach after I was done playing.
00:16:13.120 --> 00:16:23.279
And I'm like, this is a lot harder than playing because you actually have to figure out what they're doing wrong and teach a skill that came naturally in, you know.
00:16:23.519 --> 00:16:26.559
And then I refed, and that was a whole different skill.
00:16:26.720 --> 00:16:26.879
Yes.
00:16:27.120 --> 00:16:31.519
And you're so it is just different skills, and just because you can do it doesn't mean you can teach it.
00:16:31.759 --> 00:16:33.759
Yeah, that's a difficult, it's a difficult thing.
00:16:33.919 --> 00:16:38.960
So it's helpful to just be able to hire people like yourselves that has learned how to coach.
00:16:39.200 --> 00:16:40.240
So, what is this?
00:16:40.399 --> 00:16:43.360
The AI software you talked about, what does that look like?
00:16:43.519 --> 00:16:45.919
So it basically listens to your calls.
00:16:46.080 --> 00:16:48.320
Do you upload the transcripts and then it breaks it down?
00:16:48.639 --> 00:16:53.759
Yeah, so if you have a CRM that's like listening to your calls, then it's all automated.
00:16:53.840 --> 00:16:58.639
As soon as the calls finish, it shoots into our AI, air reviews it, and then shoots it back to you, right?
00:16:58.720 --> 00:17:01.519
It's all automated so long as you're using a CRM to record your calls.
00:17:01.679 --> 00:17:09.839
If you're not using a CRM to record your calls, then if you're having, for example, in-person appointments, or actually, even if you're using Fathom, or doing a Zoom call, you can still automate all that.
00:17:10.000 --> 00:17:16.079
But if you're doing in-person, we also have an iPhone app as well to record and then automatically upload.
00:17:16.240 --> 00:17:20.000
So basically, there's just no excuse not to do it unless you don't want to get better.
00:17:20.319 --> 00:17:21.839
Yeah, it's live action coaching.
00:17:21.920 --> 00:17:22.559
That's amazing.
00:17:22.720 --> 00:17:26.960
Have you looked at what the most common things are that the AI catches?
00:17:27.359 --> 00:17:33.920
The most common challenge people have is they answer questions with answers versus using stories to sell.
00:17:34.480 --> 00:17:38.400
So for example, if someone were to say, What makes you great?
00:17:38.640 --> 00:17:39.920
Like, why should I go with you?
00:17:40.160 --> 00:17:49.759
And I will say, Because of A, because of B, because of C, this is answering a question with an answer, which isn't actually what we want to do because we want to be liked.
00:17:50.160 --> 00:17:51.920
But that's ineffective for selling.
00:17:52.240 --> 00:17:52.400
Right.
00:17:52.640 --> 00:17:54.319
So if someone asks me, like, why should I go with you?
00:17:54.400 --> 00:17:56.799
It's like, I'm not really sure we you should go with us, honestly, at the moment.
00:17:56.960 --> 00:17:58.240
I don't know enough about your business.
00:17:58.559 --> 00:18:06.559
Um, but you know, what people what people have said is that they appreciate that I've been in the business long enough that I can understand their reps' questions.
00:18:06.960 --> 00:18:12.240
They appreciate the we have a format that they can follow consistently to get consistent results.
00:18:12.559 --> 00:18:16.720
And they like that it's hands-on support versus just reading out of a book.
00:18:16.880 --> 00:18:20.000
But I'm not sure any of those would be valuable to you.
00:18:20.400 --> 00:18:23.200
And from there, I'm telling a story, right?
00:18:23.599 --> 00:18:24.960
And like, oh yeah, I like those.
00:18:25.039 --> 00:18:25.680
Yeah, I like B.
00:18:25.759 --> 00:18:26.400
Give me B.
00:18:26.960 --> 00:18:27.599
Yeah.
00:18:28.079 --> 00:18:29.119
That's good.
00:18:29.839 --> 00:18:31.200
All right, I love that.
00:18:31.440 --> 00:18:32.000
Well, cool.
00:18:32.079 --> 00:18:36.240
So um, I want to jump into our section of the show called Costly Confessions.
00:18:36.400 --> 00:18:43.759
This is where our one-stop tax strategist sponsors the show, and their mission is to bring peace to taxes and purpose to profits to help you live more.
00:18:43.839 --> 00:18:49.200
So we want to dig into your wins, misses, and the lessons you learned that you now use to live more.
00:18:49.359 --> 00:18:54.960
So, yeah, what is one of the most expensive mistakes that you've made in business and what did it cost you?
00:18:55.440 --> 00:18:58.240
Most expensive mistakes was thinking I knew everything, right?
00:18:58.400 --> 00:18:58.640
Okay.
00:18:58.960 --> 00:19:02.799
So we mentioned that I started in 07, 08, it was terrible, right?
00:19:03.200 --> 00:19:11.279
In around that time, 07, 08, as the market was crashing, there were these hard money lenders and they lend money at 18% interest, which is crazy, right?
00:19:11.359 --> 00:19:12.000
Like that's credit card.
00:19:14.720 --> 00:19:20.880
But real estate that time was like$60,000 for a house that today is worth$400,000.
00:19:21.359 --> 00:19:21.680
Right?
00:19:22.000 --> 00:19:26.079
And so I'm looking at 18% as like that's stupid.
00:19:26.400 --> 00:19:27.759
Who's borrowing 18%?
00:19:28.960 --> 00:19:34.240
But if I bought all those houses for 60,000 at 18% interest, I would have cash flow from day one.
00:19:34.559 --> 00:19:34.880
Yeah.
00:19:35.119 --> 00:19:48.960
And all those houses, like the amount of wealth I could have created buying all these houses at 18% interest, but because of I was looking at it as the cost of money versus the opportunity if I did it.
00:19:49.200 --> 00:19:49.519
Right.
00:19:49.599 --> 00:19:52.000
I was asking the wrong questions because I thought I knew everything.
00:19:52.240 --> 00:19:52.640
Yeah.
00:19:52.880 --> 00:20:04.880
I remember I was in college during that that time, and I just think back always as oh, if I would have only known what I could have done then, mom, dad, I don't need to go to college.
00:20:04.960 --> 00:20:07.039
Just give me the money to buy houses.
00:20:07.200 --> 00:20:07.359
Yeah.
00:20:07.519 --> 00:20:10.000
Well, this opportunity might come again in near future.
00:20:10.079 --> 00:20:11.119
I don't know the way things are going.
00:20:11.599 --> 00:20:12.079
That's true.
00:20:12.160 --> 00:20:12.720
That's true.
00:20:12.880 --> 00:20:14.240
Always opportunities.
00:20:14.880 --> 00:20:20.000
We had a client that we got a$15 million deferral over the course of several years.
00:20:20.160 --> 00:20:22.640
And it was in that it was in 2008.
00:20:22.799 --> 00:20:25.359
He used it to invest in real estate at that time.
00:20:25.599 --> 00:20:27.039
And you can just imagine.
00:20:27.440 --> 00:20:28.799
Yeah, you can imagine.
00:20:29.039 --> 00:20:29.440
Yep.
00:20:29.599 --> 00:20:32.079
It was just wild what he has right now.
00:20:32.400 --> 00:20:32.720
Yeah.
00:20:33.039 --> 00:20:34.319
He's definitely a sense of millionaire.
00:20:34.400 --> 00:20:37.119
If he was able to buy$15 million of real estate back then, yeah.
00:20:37.200 --> 00:20:39.680
It's pretty cool what it does, compounded.
00:20:39.839 --> 00:20:40.160
Yeah.
00:20:40.480 --> 00:20:42.559
What now going back to costly confessions?
00:20:42.640 --> 00:20:48.720
What's a belief about sales or business that you held for years that you eventually realized was costing you?
00:20:49.200 --> 00:20:50.480
I need to think about it.
00:20:50.559 --> 00:20:55.920
It was uh an objection I accepted because that's how I buy, right?
00:20:56.079 --> 00:20:56.480
Yeah.
00:20:56.720 --> 00:20:58.880
I want data and I actually want to think about this.
00:20:59.039 --> 00:21:01.119
I will actually go and run sprite sheets.
00:21:01.279 --> 00:21:01.839
This is crazy.
00:21:02.000 --> 00:21:02.160
Right.
00:21:02.319 --> 00:21:03.279
So I need to think about it.
00:21:03.519 --> 00:21:03.920
Engineer.
00:21:04.319 --> 00:21:05.839
So I believed it, right?
00:21:06.000 --> 00:21:11.119
But the reality is people don't want to think about it because once the conversation's over, they don't think about it again until you call them back.
00:21:11.359 --> 00:21:11.519
Yeah.
00:21:11.920 --> 00:21:14.000
Everyone's too damn busy, overloaded, overwhelming.
00:21:14.400 --> 00:21:14.880
So true.
00:21:15.119 --> 00:21:15.599
Right.
00:21:15.920 --> 00:21:20.480
So it wasn't until I came to terms with the fact that people don't actually think about it.
00:21:20.720 --> 00:21:29.519
And like helped them and realizing that when they say they need to think about it, it just means I did a poor job of getting them emotionally involved in the process.
00:21:30.000 --> 00:21:33.920
Because once I got them emotionally involved in the process, the think about it went away.
00:21:34.400 --> 00:21:37.359
So yeah, I accept I need to think about it for far too long.
00:21:37.519 --> 00:21:39.839
Up until, again, meeting myself straight in 2018.
00:21:40.319 --> 00:21:48.640
Once I understood that we people buy, people sell the way they buy, and I was the problem in how I buy.
00:21:49.359 --> 00:21:50.240
That's so true.
00:21:50.400 --> 00:21:54.880
I'm more of like an impulsive buyer, so I just assume everybody is ready to jump ship.
00:21:54.960 --> 00:21:56.400
And so I'm always, yeah.
00:21:56.559 --> 00:21:59.759
Now, so that's what I've had to work around is some people actually want details.
00:22:00.160 --> 00:22:00.720
And want that.
00:22:00.880 --> 00:22:02.160
So how do you get around?
00:22:02.400 --> 00:22:09.039
So if you're getting that, if you're getting that objection, it means that you're not explaining it well or you're not getting to the actual need.
00:22:09.119 --> 00:22:12.319
Is that would you say that's actually fine enough pain?
00:22:12.559 --> 00:22:12.880
Okay.
00:22:13.200 --> 00:22:15.519
And we didn't find enough gain.
00:22:16.319 --> 00:22:17.279
Do you tell the client that?
00:22:17.359 --> 00:22:21.359
Like, hey, if you're telling me that it's because I didn't do a good job, so how do you get around that now?
00:22:21.680 --> 00:22:23.039
Well, they say I need to think about it.
00:22:23.119 --> 00:22:25.119
Like, I would just tell them I feel like I missed something.
00:22:25.359 --> 00:22:31.759
When you asked me to come over here, I understood that you were dealing with this and you're basically ready to get be done with it.
00:22:32.319 --> 00:22:34.079
But I clearly missed something.
00:22:34.319 --> 00:22:36.400
And then I'm gonna start asking more questions again.
00:22:36.720 --> 00:22:37.039
Okay.
00:22:37.359 --> 00:22:39.839
Yeah, you have to be able to sit in the uncomfortable.
00:22:40.160 --> 00:22:41.920
Very much willing to sit in the uncomfortable.
00:22:42.000 --> 00:22:43.680
Like getting which goes back to the very beginning.
00:22:43.759 --> 00:22:47.279
I said the number one mistake most salespeople make is the desire to be liked.
00:22:47.599 --> 00:22:57.119
Yeah, I would say that's probably a struggle I have, is thinking back, it's like even saying that and just sitting them, like continuing to push them that not you know, push them to feel uncomfortable.
00:22:57.200 --> 00:22:57.920
That's hard.
00:22:58.160 --> 00:22:59.279
It is hard.
00:22:59.599 --> 00:23:00.079
Yeah.
00:23:00.400 --> 00:23:04.559
But you're helping them because they've obviously called you for a reason.
00:23:04.640 --> 00:23:06.160
So it's very true.
00:23:06.640 --> 00:23:08.480
So that's what you have to come back to.
00:23:08.720 --> 00:23:11.279
Now I want to go back to your origin story a little bit.
00:23:11.440 --> 00:23:17.200
Your family fled communism in Vietnam and then China before coming to America, right?
00:23:17.359 --> 00:23:18.000
Yes.
00:23:18.400 --> 00:23:20.960
So did you were you born in America?
00:23:21.039 --> 00:23:24.480
And then if so, how did that how did that background change?
00:23:25.039 --> 00:23:26.960
I was born in Italy in a refugee camp.
00:23:27.279 --> 00:23:28.079
Italy, wow.
00:23:28.319 --> 00:23:28.559
Yeah.
00:23:28.640 --> 00:23:30.480
So my grandparents fled China to Vietnam.
00:23:30.640 --> 00:23:30.799
Okay.
00:23:30.960 --> 00:23:36.960
But lost everything in China, rebuilt everything in Vietnam, successfully rebuilt everything in Vietnam, and then they lost all that again.
00:23:37.119 --> 00:23:38.240
And so my parents fled.
00:23:38.400 --> 00:23:41.680
And when they fled on boats from Vietnam, they're called boat people.
00:23:41.839 --> 00:23:44.880
And like they were legitimately at risk of sharks, legitimately, right?
00:23:44.960 --> 00:23:47.359
Like sharks eating people and pirates, right?
00:23:47.440 --> 00:23:52.240
Because they're legitimately pirates, like raping and murdering people as they're and robbing them, right?
00:23:52.400 --> 00:23:54.000
When they were leaving the Vietnam.
00:23:54.160 --> 00:23:56.640
My parents are able to survive all of that, fortunately.
00:23:56.960 --> 00:24:02.160
And we were picked out by an Italian picked up by an Italian Navy ship, which is why I was born in the refugee camp in Italy.
00:24:02.400 --> 00:24:05.200
And so that's our ordinance or that's what came here with, right?
00:24:05.359 --> 00:24:10.960
I came here with a chip on our shoulders as immigrants with something to prove and got a rebuild, which we have.
00:24:11.200 --> 00:24:12.160
That's amazing.
00:24:12.400 --> 00:24:15.200
How do you think that shaped the way that you approach work?
00:24:15.440 --> 00:24:18.559
Do you feel like because you said that things you felt like things came easy to use?
00:24:18.880 --> 00:24:21.599
Do you think it's because you had work ethic that nobody else had?
00:24:21.759 --> 00:24:23.519
Um were you just smart?
00:24:24.079 --> 00:24:24.960
Resourceful.
00:24:25.200 --> 00:24:25.440
Yeah.
00:24:25.680 --> 00:24:26.799
Because I was pretty lazy.
00:24:27.599 --> 00:24:29.680
All the way through college, I never had the tryhard, right?
00:24:29.759 --> 00:24:30.880
Through high school I didn't have to try hard.
00:24:30.960 --> 00:24:32.240
Through college, I didn't have the try hard.
00:24:32.480 --> 00:24:36.160
The only thing I tried hard in in life up to that point was sports.
00:24:36.240 --> 00:24:38.319
Because I'm not national, I'm not athletically gifted, right?
00:24:38.480 --> 00:24:41.599
So I spent a lot of time in the gym working out on basketball.
00:24:41.759 --> 00:24:43.759
That's what that's the only thing I worked on, right?
00:24:43.839 --> 00:24:46.160
So like basically, if you left me open, you're gonna pay a price.
00:24:46.240 --> 00:24:47.200
I'm gonna hit the three, right?
00:24:47.359 --> 00:24:49.839
That's literally the only thing I worked hard on.
00:24:50.079 --> 00:24:54.960
And then when I went to grad school, until I got fell behind, the only thing I worked on was poker.
00:24:55.279 --> 00:24:56.079
I wanted to get good at poker.
00:24:56.319 --> 00:24:56.720
Poker.
00:24:57.599 --> 00:24:58.160
Statistics.
00:24:58.559 --> 00:24:59.440
Statistics, exactly.
00:24:59.519 --> 00:25:03.519
And even before then, like what I had to, I won't say I worked hard on, but I spent a lot of time playing video games.
00:25:03.680 --> 00:25:10.480
So work ethic is something I had when I needed it, but it's not something I always relied on.
00:25:10.559 --> 00:25:12.000
I would say it was really more resourcefulness.
00:25:12.160 --> 00:25:14.400
The the entrepreneurial, I'll figure it out.
00:25:14.640 --> 00:25:18.720
I would say that's what's I've always had with me is we'll find a way, we'll figure it out.
00:25:18.960 --> 00:25:23.200
Failing is not an option, and that's probably put in place by my parents, right?
00:25:23.359 --> 00:25:26.319
If you didn't get a 4.0, why didn't you get a 4.0?
00:25:26.480 --> 00:25:27.759
Go figure that out.
00:25:28.960 --> 00:25:29.839
I love that.
00:25:30.000 --> 00:25:31.039
Yeah, that's crazy.
00:25:31.200 --> 00:25:43.599
I had a teacher in college that came over from Vietnam on the boats, and I heard some of her stories, and it's pretty wild what they go through and what they've gone through to get the freedom that America provides.
00:25:43.759 --> 00:25:45.200
So yeah, it's amazing.
00:25:45.279 --> 00:25:47.279
That's the reason why I'm so grateful for what we have her, right?
00:25:47.359 --> 00:25:50.000
It's the reason why I'm so capitalistic, right?
00:25:50.160 --> 00:25:55.680
My parents, I had their book written, I haven't published it yet, but like they had guns drawn on them when they tried to land in Malaysia.
00:25:55.839 --> 00:25:56.079
Wow.
00:25:56.240 --> 00:25:58.480
Because Malaysia was tired of the refugees.
00:25:58.880 --> 00:25:59.200
Right?
00:25:59.359 --> 00:26:01.759
That's the world that they came from.
00:26:02.160 --> 00:26:03.599
That's crazy.
00:26:04.240 --> 00:26:08.880
Now you talk about wanting to make a hundred millionaires, right?
00:26:09.359 --> 00:26:09.680
Yes.
00:26:10.160 --> 00:26:11.680
What did that come from?
00:26:12.400 --> 00:26:15.440
I think it goes back to that capitalism, the entrepreneurship.
00:26:15.599 --> 00:26:20.559
And it also came from Andrew Carnegie, who at one point was the wealthiest man alive in history.
00:26:20.880 --> 00:26:28.880
And I remember there was an article, uh, a journalist asked him this, which was basically you've got 18 millionaires that work for you.
00:26:29.279 --> 00:26:32.480
How did you convince these millionaires, 18 millionaires to work for you?
00:26:33.119 --> 00:26:35.039
And he said, You're asking the wrong question.
00:26:35.200 --> 00:26:37.519
But they weren't millionaires until they worked for me.
00:26:37.920 --> 00:26:39.839
And for me, that was always like, man, like that's cool.
00:26:40.000 --> 00:26:42.240
He was able to create wealth for those around him.
00:26:42.799 --> 00:26:44.720
And that's what I wanted to do, right?
00:26:44.799 --> 00:26:49.440
It's like, man, like I'll know I'm doing a good job if I'm creating wealth for everyone around me.
00:26:49.680 --> 00:26:51.119
So that's the that's where that came from.
00:26:51.200 --> 00:26:59.599
And again, capitalism, entrepreneurship, the best way to preach the gospels of capitalism is to create a bunch of successful entrepreneurs.
00:27:00.880 --> 00:27:01.680
Love that.
00:27:02.079 --> 00:27:03.039
I love that.
00:27:03.519 --> 00:27:05.519
Now, living more.
00:27:05.759 --> 00:27:06.960
This show is about living more.
00:27:07.039 --> 00:27:09.279
How do you use your business to live the life you love?
00:27:09.359 --> 00:27:10.559
What does that mean for you?
00:27:11.279 --> 00:27:22.079
Boy, this is this is tough because I know we're supposed to be like wonderful fathers, mothers, spouses, and so on, right?
00:27:22.880 --> 00:27:26.079
But for me, I am in love with a game of business.
00:27:26.559 --> 00:27:32.079
So, like, even though I know in some ways this feels like a trap, this is the game I love.
00:27:32.319 --> 00:27:35.680
So for me, I just use it to continual continually level up.
00:27:35.920 --> 00:27:39.599
Now, with that being said, I take my kids to school every morning.
00:27:40.240 --> 00:27:40.559
Right?
00:27:40.799 --> 00:27:50.160
On Mondays, Thursdays, and Fridays, I take all three kids to school, and then on Tuesdays and Wednesdays I want to take the two older kids to school.
00:27:50.720 --> 00:27:53.279
So I spend time to take the kids to school.
00:27:53.519 --> 00:27:55.039
I go to every volleyball tournament.
00:27:55.839 --> 00:28:00.559
So when I'm at a volleyball tournament, during the game, my phone is in my pocket, I'm not looking at my phone.
00:28:01.119 --> 00:28:03.920
Between games, because volleyball tournaments are horrendously long.
00:28:04.559 --> 00:28:08.640
I am on the phone, I am doing stuff, but during the game, the phone's in a pocket, I'm paying attention.
00:28:08.799 --> 00:28:12.079
I'm definitely very intentional with that, intentional with my with my wife.
00:28:12.400 --> 00:28:19.920
But outside of those times, I'm still working, thinking about business 78 hours a week because I'm having fun.
00:28:20.400 --> 00:28:23.920
And that's the thing, it's it's you're not trapped in it, you're enjoying it.
00:28:24.079 --> 00:28:24.400
Yeah.
00:28:24.640 --> 00:28:32.960
And so I think that's what people need to be able to also give themselves permission if that's what if that's what it living more means to you, then that's amazing.
00:28:33.039 --> 00:28:35.200
And you're helping people in the process.
00:28:35.599 --> 00:28:39.359
So I think that you've built your business to be something that you truly enjoy.
00:28:39.680 --> 00:28:40.400
Yeah, I love it.
00:28:40.480 --> 00:28:41.200
I love every day of it.
00:28:41.279 --> 00:28:43.599
Like my kids, my young is like, Dad, why do you work so much?
00:28:43.759 --> 00:28:45.200
Like, it's not really working.
00:28:45.440 --> 00:28:46.960
Yeah, I'm playing.
00:28:47.599 --> 00:28:48.720
I mean that's awesome.
00:28:48.960 --> 00:28:51.920
With AI today, I describe this to my wife.
00:28:52.160 --> 00:28:56.880
I feel like every day with what we're doing with AI is when I was playing video games, right?
00:28:56.960 --> 00:29:00.160
When I was playing StarCraft, like I could play StarCraft for hours and hours.
00:29:00.640 --> 00:29:02.640
I feel like that's exactly how I'm living my life right now.
00:29:02.720 --> 00:29:06.079
It's like I'm just using the tools to just level up my business.
00:29:06.319 --> 00:29:07.440
Yeah, it's a game.
00:29:07.599 --> 00:29:08.720
Yeah, that's great.
00:29:08.960 --> 00:29:11.119
And it's great that you don't miss your kids' sports.
00:29:11.279 --> 00:29:12.880
My dad never missed my games.
00:29:13.119 --> 00:29:17.359
I never ever felt like the business was more important than me because he was a businessman as well.
00:29:17.519 --> 00:29:24.240
And that's what made me want to get into business because I never felt like you know, he he worked hard.
00:29:24.400 --> 00:29:25.519
It wasn't anything like that.
00:29:25.599 --> 00:29:30.880
It was more he was able to prioritize the things that are important because he had the freedom to be able to do that.
00:29:31.039 --> 00:29:31.200
Yeah.
00:29:31.359 --> 00:29:32.799
So I think that's great.
00:29:33.039 --> 00:29:35.200
And that's the reason why I do it.
00:29:35.680 --> 00:29:37.359
Yeah, for sure.
00:29:37.599 --> 00:29:47.920
I think even if I made the same amount, I would still want the freedom that entrepreneurship provides because you can't, you know, I like to be able to go where I want when I want with who I want.
00:29:48.160 --> 00:29:48.720
Exactly.
00:29:48.880 --> 00:29:49.200
Exactly.
00:29:49.440 --> 00:29:50.000
Yeah.
00:29:50.240 --> 00:29:56.480
Now, what would you go back and tell, Steve, back in 2007, 2008?
00:29:56.720 --> 00:29:59.440
What would you tell that version of yourself?
00:30:01.359 --> 00:30:02.319
I don't know.
00:30:02.559 --> 00:30:08.240
And the reason why I say I don't know is because the instruction would have been like, you need humility.
00:30:08.720 --> 00:30:17.200
But I also know about myself that I'm the kind of person who likes to learn, learn from other people's examples and so on.
00:30:18.079 --> 00:30:20.480
But I also need to face defeat.
00:30:20.960 --> 00:30:22.319
So I'll give you an example here.
00:30:22.640 --> 00:30:25.440
I had so many people say, Don't start a real estate brokerage, right?
00:30:25.519 --> 00:30:26.559
So many people like I admire.
00:30:26.640 --> 00:30:30.000
It's like, don't start real estate brokerage, doesn't make money, it's not profitable and this and that, right?
00:30:30.799 --> 00:30:34.559
And my response to that is I'll make it work, I'll figure it out.
00:30:34.880 --> 00:30:36.559
And I lost 10 years of my life.
00:30:36.880 --> 00:30:37.599
That was a disaster.
00:30:37.759 --> 00:30:39.680
If you're listening, do not start a brokerage.
00:30:39.839 --> 00:30:40.160
All right.
00:30:40.400 --> 00:30:47.039
So, but I needed to go through that experience because even though I had the answers, people told me the answers, I still didn't listen.
00:30:47.279 --> 00:30:52.480
And so even if I went back and told myself, like, hey you need humility, I probably wouldn't have listened.
00:30:52.640 --> 00:30:52.960
Right?
00:30:53.599 --> 00:31:00.720
I needed to fail and get punched in the face and have your legs kicked out to really learn the lesson.
00:31:01.359 --> 00:31:09.920
Yeah, I think that's the hard-headedness of uh sometimes the positive side of that also gets you in, gets you back, huh?
00:31:10.240 --> 00:31:10.559
Exactly.
00:31:10.640 --> 00:31:13.440
So you know, a lot of our strengths are also our weaknesses.
00:31:13.839 --> 00:31:14.960
Yep, I agree.
00:31:15.519 --> 00:31:19.039
What is the what's the biggest lie people believe about sales?
00:31:19.839 --> 00:31:25.279
The biggest lie people believe about sales that people do business with people they know and trust.
00:31:25.599 --> 00:31:26.240
I hear that quite a bit.
00:31:28.480 --> 00:31:30.240
People do business with people that they trust.
00:31:31.359 --> 00:31:42.799
So, like you can deal with so for example, if your your kid's a lot younger, but let's say a decade from now, God forbid, uh your daughter gets pulled over for a DUI, right?
00:31:43.519 --> 00:31:47.359
Drinking while in college, drove home, right?
00:31:48.720 --> 00:31:52.240
You got a friend who's a lawyer, right?
00:31:52.720 --> 00:31:54.720
She's pretty good, like how she is.
00:31:55.119 --> 00:31:58.000
She gets most cases dismissed, but not all of them, right?
00:31:58.240 --> 00:32:07.599
And you got this other scummy lawyer who like is friends with the judges, goes to the same golf club, gets 100% of the cases dismissed.
00:32:08.319 --> 00:32:09.599
Who are you going with?
00:32:10.079 --> 00:32:12.640
The good, yeah, the one that's gonna help my daughter.
00:32:12.880 --> 00:32:13.599
That's true.
00:32:13.920 --> 00:32:16.640
Not the one you like, but the one that you know is gonna get the job done.
00:32:16.960 --> 00:32:26.480
That's so true because actually I've worked for people or had people work with us that like I'm like, oh, I like the guy, but he's not gonna do what we need him to do.
00:32:28.160 --> 00:32:28.720
You're right.
00:32:28.880 --> 00:32:31.519
That's actually very you changed my mind on that.
00:32:31.680 --> 00:32:32.079
Yeah.
00:32:32.319 --> 00:32:33.440
That's true.
00:32:33.759 --> 00:32:44.319
What that's actually something that really means do what you say you're gonna do and follow through on things because that's where your reputation will bite you if it's not if it's not something that people will trust.
00:32:45.440 --> 00:32:49.599
What's one book that that changed the way you think about money?
00:32:49.920 --> 00:32:51.440
Oh, it changed the way I think about money.
00:32:51.680 --> 00:32:53.920
See, profit first, Mike Bikalowitz.
00:32:54.160 --> 00:33:00.799
Like, I was raised to go with money, I had no credit card debt ever, all the way until I got into sales.
00:33:00.960 --> 00:33:05.759
I paid every credit card bill off beginning every month, had no interest, right?
00:33:06.480 --> 00:33:12.799
And then for whatever reason, you get into business, you think about hustle and grind, right?
00:33:12.960 --> 00:33:14.720
Make your way through and pay yourself later, right?
00:33:14.799 --> 00:33:16.960
I'm gonna pay myself later on, right?
00:33:18.079 --> 00:33:18.799
But it doesn't work.
00:33:19.039 --> 00:33:22.319
Or it's not that it doesn't work, but the like the likelihood of that working is pretty low, right?
00:33:22.400 --> 00:33:23.359
And we saw so many people.
00:33:23.440 --> 00:33:30.400
Like when COVID occurred, I was telling my wife, I felt so bad, not for the people that were sick, probably would have been the rational thing.
00:33:30.720 --> 00:33:33.759
I felt bad for all the business owners who had their businesses shut down.
00:33:34.480 --> 00:33:39.920
Because they were the ones like one day I'll be able to pay myself, right?
00:33:40.079 --> 00:33:43.279
I'm gonna suffer, I'm gonna suffer, and I'm not gonna pay myself.
00:33:43.359 --> 00:33:49.359
I'm gonna I mean we're gonna live on within our means, and one day we're gonna it's all gonna pay off.
00:33:49.680 --> 00:33:56.319
And I don't know how many hundreds of thousands or millions of business owners that did not pay off because of COVID.
00:33:56.559 --> 00:33:57.119
Yeah.
00:33:57.359 --> 00:33:57.599
Yeah.
00:33:58.240 --> 00:33:59.119
That's the reality.
00:33:59.279 --> 00:34:00.400
That's a good, yeah.
00:34:00.559 --> 00:34:03.039
Do you do the profits for profit first method?
00:34:03.279 --> 00:34:06.720
Uh I mean, we could definitely do it better, but yes.
00:34:07.039 --> 00:34:08.400
To to an extent.
00:34:08.719 --> 00:34:12.559
Yeah, I mean we do it, but not to the numbers that Mike McHallowitz recommends.
00:34:12.800 --> 00:34:17.280
Yeah, that makes bookkeeping very expensive, but it does help with the cash flow.
00:34:18.159 --> 00:34:19.360
Yeah, I remember COVID.
00:34:19.519 --> 00:34:20.639
That was a wild time.
00:34:20.800 --> 00:34:26.239
We were doing the helping people guide get the guidance around the PPP loans and all that.
00:34:26.559 --> 00:34:49.440
And I just remember staying up till two or three in the morning reading about that stuff because I'm like, people's livelihood is on the line, their business is on the line, and it really I I just felt like extreme ownership over that because you're right, it is they sacrifice everything, and it's really just for the closing it down, that would be so sad.
00:34:49.760 --> 00:34:50.239
Rough.
00:34:50.400 --> 00:34:50.559
Yeah.
00:34:52.159 --> 00:34:52.960
Totally.
00:34:53.360 --> 00:34:57.840
Now, what do you do before a big sales call to get in the right headspace?
00:34:57.920 --> 00:34:58.719
Do you do anything?
00:34:58.800 --> 00:35:00.800
Or is it just more show up?
00:35:01.199 --> 00:35:01.519
No.
00:35:01.840 --> 00:35:02.559
Show up, yeah.
00:35:02.800 --> 00:35:03.119
Okay.
00:35:03.519 --> 00:35:05.119
Um you trust your skills.
00:35:05.360 --> 00:35:10.719
I trust my skills, but also it's funny because we've actually programmed, we're building an AI that can sell to you, right?
00:35:10.800 --> 00:35:10.960
Yeah.
00:35:11.119 --> 00:35:12.400
And so it's not released yet.
00:35:12.559 --> 00:35:17.920
And so the problem a lot a lot of times we have is preconceived notions, right?
00:35:18.320 --> 00:35:20.960
And so I want to show up with a blank slate.
00:35:21.119 --> 00:35:25.119
I want to know what's going on in your world, and I'm gonna find out through our conversation.
00:35:25.760 --> 00:35:32.000
So the challenge we have is if we if we do too much research, we might have we might be leading with wrong information.
00:35:32.079 --> 00:35:32.239
Uh-huh.
00:35:32.480 --> 00:35:36.400
And as far as mindset goes, as long as we follow our process, everything'll be fine.
00:35:36.480 --> 00:35:45.519
I have a belief, a conviction that if I do exactly what we teach people to do, then a sale is a naturally occurring event.
00:35:45.679 --> 00:35:55.199
Because again, people don't jump into a conversation with a complete stranger until unless they've identified there's a problem that they cannot solve on their own.
00:35:55.440 --> 00:35:57.440
I expect it's unreasonable, right?
00:35:57.599 --> 00:35:59.440
But I expect a hundred percent close rate.
00:35:59.920 --> 00:36:03.679
Even if what about if it's the the person doesn't need your services?
00:36:03.840 --> 00:36:09.119
Do you feel like that's that's if they don't need my service and we figure that out qualified, then we're gonna move them on.
00:36:09.199 --> 00:36:11.519
It's like that was not that was not a qualified prospect.
00:36:11.679 --> 00:36:12.320
Yeah.
00:36:12.719 --> 00:36:15.440
So 100% for qualified prospects.
00:36:15.679 --> 00:36:15.920
Yeah.
00:36:16.159 --> 00:36:18.400
And for me, I am fully disqualifying, right?
00:36:18.480 --> 00:36:19.920
Right, like we're gonna be very clear.
00:36:20.159 --> 00:36:22.719
It's not like I couldn't get it, that was not a qualified prospects.
00:36:22.880 --> 00:36:26.239
Like, no, like we know exactly why they should not go with us.
00:36:26.480 --> 00:36:27.440
I love that.
00:36:28.079 --> 00:36:31.039
That just asking questions, yeah, figuring out.
00:36:31.280 --> 00:36:35.440
And that actually, I think people love that because you're actually it shows you care.
00:36:35.599 --> 00:36:44.400
And so you're truly, it's like the doctor you're sitting down with that just wants you in and out versus the one that's sitting down and trying to understand your true needs.
00:36:44.719 --> 00:36:45.920
Yeah, exactly.
00:36:46.159 --> 00:36:51.440
We have uh we went to brought a loved one to a psychiatrist, and I could tell he cared.
00:36:51.519 --> 00:36:53.760
And by the way, I did all this research beforehand, right?
00:36:54.000 --> 00:37:08.079
But yeah, like we could tell he genuinely cared and he asked all the questions, and he cared not just about what my my loved one, but what my concerns were, and he talked to everybody versus just the five minutes, all right, take this pill and you'll be fine.
00:37:08.400 --> 00:37:11.280
Yeah, and then that builds the trust that you talked about.
00:37:11.519 --> 00:37:12.320
Exactly.
00:37:12.559 --> 00:37:14.320
Yeah, well, great, Steve.
00:37:14.400 --> 00:37:15.199
This was incredible.
00:37:15.360 --> 00:37:19.039
Thank you for spending time with us and pulling back the curtain on everything.
00:37:19.280 --> 00:37:41.519
If you as a listener, if anything in this conversation made you want to tighten up anything in your sales process, anything that Steve talked about that you feel you could gain value from, make sure you check out, actually check out anything in the show notes, but you can also text cash to 3377737s and to talk to an actual AI agent.
00:37:41.599 --> 00:37:45.760
Steve, you want to break that down a little bit, what they'll hear, what they'll experience if they do that.
00:37:46.079 --> 00:37:51.679
Yeah, when you text it, our AI agent will call you and you'll hear what our appointment setter actually sounds like.
00:37:51.840 --> 00:37:58.320
So if you want our AI to call your old leads, you'll hear what she'll sound like when she's calling it.
00:37:58.400 --> 00:38:04.320
So she'll be talking to you about your business, but that's exactly how she'll be talking to your old leads.
00:38:04.800 --> 00:38:05.599
Love it.
00:38:05.840 --> 00:38:08.880
It's pretty crazy what AI is doing these days.
00:38:09.199 --> 00:38:10.880
Uh it's unbelievable.
00:38:11.599 --> 00:38:15.440
It's like we're living in the future, but but now.
00:38:15.760 --> 00:38:17.039
Yeah, yeah, it's crazy.
00:38:17.199 --> 00:38:19.119
It's there's lots of concerns.
00:38:19.360 --> 00:38:20.079
Lots of concerns.
00:38:20.320 --> 00:38:25.199
Yeah, it's it is yeah, it's proceed with caution, but use it to your advantage while you can.
00:38:25.440 --> 00:38:26.719
Oh, yeah, absolutely embrace it.
00:38:27.039 --> 00:38:27.760
Not embrace it.
00:38:27.920 --> 00:38:29.280
Absolutely embrace it.
00:38:29.519 --> 00:38:31.039
But yeah, proceed with caution.
00:38:31.280 --> 00:38:32.079
Yep, for sure.
00:38:32.239 --> 00:38:32.719
I love it.
00:38:32.800 --> 00:38:34.079
I'm definitely gonna check it out.
00:38:34.239 --> 00:38:38.719
And I'm interested in even your AI, the objection proof where it breaks down the calls.
00:38:38.800 --> 00:38:48.239
I think that's such a valuable tool because it would be very expensive to pay for a coach to sit in on all of your calls, but you're able to just do that with AI.
00:38:48.320 --> 00:38:49.440
So it's so powerful.
00:38:49.760 --> 00:38:55.519
Make sure everything else in the podcast, Steve's podcast, his training, his 100 millionaire movement.
00:38:55.599 --> 00:38:56.400
Make sure you check that out.
00:38:56.480 --> 00:38:58.000
That's gonna be all linked in the show notes.
00:38:58.159 --> 00:39:02.639
You can follow him on Instagram, social media, and he just puts out a lot of value.
00:39:02.800 --> 00:39:06.000
So I would highly recommend checking out his stuff.
00:39:06.079 --> 00:39:08.719
We'll keep you seeing in the next one, keep the momentum going.
00:39:08.800 --> 00:39:09.679
We'll see you there.
00:39:09.920 --> 00:39:16.000
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