In a recent episode of the Raising Private Money podcast, renowned entrepreneurs Brad Sugars and Jay Conner delve into strategies and mindsets to help individuals revolutionize their lives and businesses within 90 days. From raising private money for real estate investing to creating self-sustaining enterprises, Brad and Jay provide actionable insights that can propel entrepreneurs toward success. This blog post unpacks key themes from their discussion to help you harness their wisdom for your ventures.
Raising Private Money: The Game-Changer for Real Estate Investors
Jay Conner, famously known as the Private Money Authority, emphasizes the transformative power of raising private capital. Traditional borrowing methods can often be cumbersome and risky, but Conner offers an alternative approach through leveraging private money. This method gives real estate investors a unique opportunity to secure funds more safely and effectively.
To help investors get started, Conner offers a free guide titled “Seven Reasons Why Private Money Will Skyrocket Your Real Estate Investing Business Right Now,” available at jconnor.com/moneyguide. The guide is rich with strategies and insights designed to elevate real estate businesses by tapping into the potential of private money.
Building a Self-Sustaining Business: Brad Sugars’ Blueprint
Brad Sugars, an internationally acclaimed entrepreneur and CEO of ActionCOACH, shares his expert method for creating self-sustaining businesses. A successful business, according to Brad, operates profitably without the owner needing to be constantly involved. To achieve this, Sugars outlines a structured approach comprised of:
- Mastery
: Developing a deep understanding of fundamental business operations. - Marketing
: Attracting and retaining customers through effective marketing strategies. - Systemization
: Creating efficient processes and automated systems to streamline operations. - Team-Building
: Assembling a competent and dedicated team. - Scaling
: Expanding the business systematically to ensure sustainable growth. - Exit Strategy
: Planning the business owner’s departure to ensure long-term business sustainability.
Brad mentioned that his new AI-powered business education platform is designed to help entrepreneurs master these elements efficiently, leveraging his robust network for rapid capital raising. His emphasis on having a reliable network underscores the importance of relationships and trust in successful business ventures.
Avoiding Burnout: The Power of Delegation
Both Brad Sugars and Jay Conner highlight their personal experiences to illustrate the importance of avoiding burnout through task delegation. Jay shares his initial mistake of trying to handle everything in his business by himself, which led to severe burnout. By automating and delegating tasks to both technology and people, business owners can focus on strategic growth instead of being bogged down by day-to-day operations.
Mindset: The Foundation of Success
A substantial portion of the conversation revolves around the significance of mindset in achieving business success. According to Brad Sugars, mindset constitutes a significant part of the success equation. Both he and Jay Conner agree that having dreams and goals are crucial drivers of performance and growth. Sugars shares his formula for success, which includes:
- Dreams
: Imagining grand visions for the future. - Goals
: Setting tangible targets derived from those dreams. - Learning
: Acquiring the necessary knowledge and skills to achieve these goals. - Plans
: Crafting strategic action plans. - Actions
: Consistently implementing the plans.
Brad emphasizes the importance of setting daily goals, noting that small, consistent actions accumulate to monumental long-term success.
Transforming Definitions of Success
Throughout the episode, Brad reflects on the evolving nature of success. While American culture often equates success with visual wealth, Brad now stresses personal fulfillment as the true marker of success. For him, success revolves around family and meaningful contributions, rather than materialistic achievements.
He uses an analogy to inspire listeners to pursue activities they enjoy and quit jobs they dislike for greater fulfillment. Personal fulfillment and the ability to change one’s life path are critical for true success.
Conclusion
The insights from Brad Sugars and Jay Conner provide a comprehensive roadmap to revolutionize your life and business within 90 days. By embracing private money solutions, building self-sustaining enterprises, delegating tasks, and cultivating a success-oriented mindset, entrepreneurs can unlock unprecedented levels of growth and fulfillment. For actionable steps and deeper insights, consider downloading Jay Conner’s free guide and exploring Brad Sugars’ training programs and podcast episodes. Remember, the journey to success begins with a single step, and with the right guidance, your transformation is just around the corner.
10 Discussion Questions from this Episode:
- Building a Strong Network: How can new entrepreneurs start building a strong, reliable network for raising capital, similar to the one Brad Sugars has created?
- Automation and Delegation: What are some effective strategies for automating and delegating tasks in a business, and how can entrepreneurs decide what to delegate versus what to handle themselves?
- Successful Business Definition: Brad Sugars defines a successful business as one that operates profitably without the constant involvement of the owner. Do you agree with this definition? Why or why not?
- Overcoming Burnout: Jay Conner shared his experience with burnout due to trying to do everything himself in his business. What are some signs of burnout, and how can business owners prevent it?
- Raising Private Money: What are the key reasons why private money can significantly boost a real estate investing business, as suggested in Jay Conner’s free guide?
- Exit Strategy: Why is it important for business owners to have an exit strategy, and what steps can they take to create one?
- Importance of Cash Flow: Brad Sugars emphasizes cash flow in the wealth equation. How does maintaining a healthy cash flow impact the sustainability and growth of a business?
- Pricing Strategy: What are the dangers of pricing services too low for new entrepreneurs, and how can they determine an appropriate pricing strategy?
- Mindset for Success: Both Jay Conner and Brad Sugars stress the importance of mindset in achieving business success. What mindset shifts might be necessary for someone transitioning from a regular job to entrepreneurship?
- Success Factors: Brad Sugars outlines five success factors: Dream, Goal, Learn, Plan, and Action. Choose one of these factors and discuss its importance and how you would apply it in your own business or personal life.
Fun facts that were revealed in the episode:
- Brad Sugars set a goal to retire at 25 and made his first million before he was 22.
- ActionCOACH operates nearly 1,100 offices in 84 countries.
- Brad uses the analogy “you’re not a tree, you can move” to emphasize personal change and mobility for fulfillment in life.
Timestamps
00:01 Raising private money without asking for it.
04:23 Teaching business ownership for independent success.
09:59 From retirement to investing: prioritize lifelong learning.
12:54 Lifelong learners, mentored, giving, integrity valued highly.
15:44 Success evolves; fulfillment over material possessions.
18:22 Business owners learn cash flow and independence.
22:37 Successful delegation; earning passively through development.
26:44 Feeling irreplaceable led to an overwhelming workload.
27:59 Automated outsourcing improves team efficiency significantly.
31:57 90-day plans for business, life, and wealth.
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Jay Conner is a proven real estate investment leader. Without using his own money or credit, Jay maximizes creative methods to buy and sell properties with profits averaging $67,000 per deal.
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Building a Self-Sustaining Business: Brad Sugars’ Revolutionary 90-Day Challenge with Jay Conner
Jay Conner [00:00:00]:
Welcome to another amazing episode of Raising Private Money. I’m Jay Conner, your host, also known as the Private Money Authority. And this is the show where we talk about raising private capital without ever having to ask for money. There are no applications. You do your underwriting. And how do we do that? By putting on our teacher hat and exposing people in our networks as to how they can get high rates of returns safely and securely. Well, here on the show, Raising Private Money, I have amazing guests who come here and join me, and we talk about all topics relating to real estate investing. But, you know, you’ve heard me say many, many times the phrase, It’s hard to own real estate until you own the real estate between your ears.
Jay Conner [00:00:50]:
My guest today has raised tens of 1,000,000 dollars in private money, And he’s about in just a moment to give you a checkup from the neck up to make sure that your mindset is right. Well, my friend and guest, he’s internationally known as one of the most influential entrepreneurs. He’s a best-selling author and keynote speaker. He’s one of the very best business coaches in the world. And throughout his 30-year career as an entrepreneur, he’s become the CEO of over 9 companies. He’s the owner of a multimillion-dollar franchise, which is called Action Coach. And so my dear friend is gonna get underneath the hood, as we call it. Get inside your mind.
Jay Conner [00:01:38]:
Have you ever had that self-talk, the way you ask yourself the question, am I gonna make it? Can I make it as an entrepreneur? Or maybe you’ve been an entrepreneur for some time, and you’re hitting some roadblocks. Maybe you’re having some difficulty with cash flow. Well, my guest can fix your cash flow, in a matter of minutes by talking with you about the principles that work that he has shared with so many of the business owners for so many years. In just a moment, right after this, you’re gonna meet my good friend and guest, mister Brad Sugars.
Narrator [00:02:16]:
If you’re a real estate investor and are wondering how to raise and leverage private money to make more profit on every deal, then you’re in the right place. On raising private money, we’ll speak with new and seasoned investors to dissect their deals and extract the best tips and strategies to help you get the money because the money comes first. Now here’s your host, Jay Conner.
Jay Conner [00:02:44]:
Well, hello there, Brad, and welcome to the show, my friend.
Brad Sugars [00:02:48]:
Good day, Jay. Good to be here.
Jay Conner [00:02:50]:
Good day. I mean, you say good day, Jay, like, you know, a perfect Australian or something.
Brad Sugars [00:02:57]:
Yeah. I don’t know if there’s such a thing as a perfect Australian. We’re all a bit of a joker at some level, I guess. We have a lot of fun, Aussies. That’s the way life’s supposed to be, isn’t it?
Jay Conner [00:03:07]:
Perhaps I should say my guess with the perfect Australian accent. How about that? I’ll leave you to the accent. Well, Brad, you have got you have just got a plethora of, different topics you can talk about from, you know, business coaching, wealth and finance, life coaching, advertising, increasing profits. I mentioned cash flow, in the intro. Yeah. So, I mean, you have been a business coach. You are a business coach to some pretty high-profile people. But when you boil it all down, what would you say that your top 2 or 3 expertise subjects are?
Brad Sugars [00:03:52]:
Oh, number 1 would be building wealth through business. So, like, you know, you teach people about raising capital to build to buy real estate. I teach a lot of people about raising capital and buying businesses. So where I buy companies, fix companies, and sell companies. I buy and oftentimes though, I’ll keep them. If I build them to a point where they run under management, I don’t need to be involved other than maybe a monthly board meeting. I’ll keep those. So that would be number 1, building wealth through it.
Brad Sugars [00:04:23]:
And so that’s where my book Billionaire in Training, we take people through the ladder of how you learn that because it’s the learning part that’s the hardest part of business success. The second would be about how to create a business that runs without you. So we’ve, through ActionCOACH, we’ve coached over 280,000 business people on how to build a business. And so we coach, we educate, and and teach them that sort of stuff. Because becoming a great business owner is different than being great at the job of the business. Being a great dentist doesn’t make you a great owner of a dental business if that makes sense. And so we teach people how to be a business owner and build a business that works so you don’t have to. 3rd, probably marketing.
Brad Sugars [00:05:11]:
Marketing is one of my absolute favorite things because it’s you know, the lifeblood of a business is get them and keep them. Get customers, keep customers. Get team members, keep team members. So getting them and keeping them would probably be, that was my latest book, Raise Your Hand Marketing so that people understand what marketing is, is to just get someone to say, hey, I’m interested. And then phase 2 of marketing is to get them to say, hey, I’m ready. So, yeah, I think that’s probably the 3 main areas. But I love my I teach on success all the time, Jay. And, you know, as you are very well aware, mindset is a massive part of people’s success.
Jay Conner [00:05:52]:
I believe it’s at least 90% of the success. You can have all the knowledge. You can have all the know what to do, what not to do, etcetera. But unless you’ve got the mindset to implement there’s the keyword, implement or take action. So let’s just start right there, Brad. I mean, you’ve coached and, you know, led a lot of people through your organization, built businesses, etcetera. What are the attributes? What kind of mindset does a business owner need to have to survive and thrive?
Brad Sugars [00:06:32]:
Yeah. It’s interesting because, you know, phase 1 of business is survival. Phase 2 is a thriving, type of thing. But I teach success in a 5 step formula. Dream, goal, learn, plan, action. So take your dreams first. And, you know, W Somerset Maughn, I think, put it best when he said nothing if not at first a dream. You know, not a little bit.
Brad Sugars [00:06:52]:
It’s just nothing. If you don’t dream and, you know, some people say to me, well, I don’t know what I want in my dreams. You kinda do, but let’s work with the opposite methodology. Write down everything you don’t want, and then let you know, I don’t wanna be broke. Right? What’s the opposite of that? I wanna have 10,000,000 in the bank and I wanna have a 100,000,000 in net assets or, you know, even a 1000000 in the bank and a 1000000 in net assets. Whatever your number is, you’ve gotta define your dreams. Because if you don’t if you don’t have massive dreams, there’s no need to do your best. There’s no need to perform at your best.
Brad Sugars [00:07:25]:
There’s no need to grow. Dreams then you know, dreams are 10 to 20 years out. You don’t know when they’re gonna happen. You don’t know how they’re gonna happen. As my good friend, Professor Alan Pease puts it, how is often the killer of dreams and goals. People write down a goal and they say, well, how am I gonna do that? Well, I don’t know how, so therefore it can’t be a goal. No. No.
Brad Sugars [00:07:46]:
No. That’s not the way goals work. So your dreams are 10 to 20 years out. Your goals are within 5 years sort of thing. And by the way, the most important goal isn’t the 5-year goal. It’s the one-day goal. So what are your goals tomorrow? If you don’t know what your goal is for the one-day see, if you hit your daily goals, then you hit your weeklies. If you hit your weeklies, you hit your monthlies.
Brad Sugars [00:08:06]:
Hit your monthlies, hit your annuals, and so on. But it’s the daily goal and the daily plan that is the most important plan and the most important goal. So goals, and I’ll give you an example from my life, Jay. When I was now you you remember mister Ron. Well, I met Mister Ron when I was 16 years of age, at Brisbane City Town Hall. Took all the notes, ran down to him afterward, and got him to sign my notes. 31, I was his opening act in, Sydney, Australia in front of 5,000 people. And I showed him my notes again at, 31.
Brad Sugars [00:08:39]:
And he said, yes. These are amazing. Please call me Jim. I said, yes, Mister Roan. But, as mister Rohn taught me at 16, you gotta set these goals. And so I set goals to retire at 25. Because, also, mister Rohn said, you know, it’s retirement’s not a function of age. It’s a function of finances.
Brad Sugars [00:08:59]:
So here I was, 16 years of age, set a goal to retire at 25, and I told some of my friends, of course, one of my friends told his dad, and his dad decided that he had to sit me down and lecture me as to how that can’t happen, won’t happen, and especially won’t happen for me. And, technically, his dad was right. 16-year-old me did not know how to do that, could not do that. But what he didn’t acknowledge and what most people don’t think about is that I could grow. I could learn. I could study. And so as I did that, I learned, grew, and studied, made my first million before I was 22. You know, got to be at a point actually, it took me 26 I tried to retire.
Brad Sugars [00:09:40]:
I had the business running cash flow. I’d sold companies on retainer. So I was I had money coming in and I lasted 3 weeks in retirement. I played golf with my dad. He was the only other retired person I knew. After 3 weeks in retirement, I was like, this is insane. I need to do stuff. I’m I’m I love being busy.
Brad Sugars [00:09:59]:
I love doing things. So I went from retirement to retirement and, got back to investing rather than just making the money. I started to manage what I made. So dreams than goals when it comes to learning. And this is the part I think that you do well Jay, but other people don’t. They don’t give themselves the time to study their goals and learn how. Like if someone said to you, you gotta run a marathon, people would say, okay, it’s gonna take me 6 or 12 months to practice, to train, to change my diet, to get a mentor, to people know that they’ve gotta give themselves time. But when they set a goal of wealth or they set a goal of doubling their income or they set a goal of, building a real estate portfolio, or growing their own business, for some strange reason, they don’t give themselves learning time.
Brad Sugars [00:10:51]:
The reason to set the goal is to define the books you gotta read, the podcasts you gotta listen to, the mentors you gotta get, and the groups you gotta join. You set the goal to define the learning. Then from the learning, you write the plan, and then from the plan, you go to work. Most people go from setting a goal to going to work. It doesn’t work that way. If you could have achieved the goal with your current knowledge, you already would have. So gain the knowledge, write the plan, and then get to work. So dreams times goals times learning times plans times actions equals success.
Jay Conner [00:11:26]:
I love it. And that’s what you call, I believe, the set of the 5 success factors. Right?
Brad Sugars [00:11:34]:
Yeah. So that formula for success, those 5 success factors, you know, I like we we do a success score. People can go on my website and do the success score and find out where they’re at and then find out what are the factors they can do to improve their chances of success in life. I think it oh, success is kind of an elusive thing for a lot of people. And it’s it’s I guess it’s because they don’t know how. And that’s, you know, people become wealthy by listening to you. They become successful by reading, studying, and learning. You know, that’s that’s what we want people to do.
Jay Conner [00:12:11]:
So I was on your show, which, by the way, you have an amazing show as well. You’re in general, buddy. The name what’s the name of your podcast?
Brad Sugars [00:12:19]:
It’s the big big success podcast. All we do is ask successful people, how did you get successful? What did you do? What did you and it’s amazing when you listen and we just put out our 100th episode. It’s amazing when you listen to 100 successful people about how they get successful. There are clues.
Jay Conner [00:12:38]:
Yes. Well well, how about giving my audience a few clues? What are some of the trends that you have or the threads that you have noticed that have woven through your 100 interviews of successful people?
Brad Sugars [00:12:54]:
Number 1, they’re learners. They are learners always every single person has talked about how much they had to learn. Number 2, they have mentors at some level, whether it’s a teacher, whether it’s by books, whether it’s by, courses, but they have mentors at some level or coaches at some level. Number 3, they have a giving mentality. They wanna give first, and receive second. That mentality, that way of going about things, whether it’s giving great service in their business, whether it’s giving value first and receiving second, whether it’s overdelivering on whatever their business does, but there’s definitely that giving mentality. And I think that the 4th one, which sort of very few of them say it, but it’s just woven into it. And that is, you know, your word is your bond.
Brad Sugars [00:13:50]:
Do things with integrity. You’ve got one chance at this thing called, relationships with the world and one chance at, holding that, way you are perceived, so make sure you do a good job at it. So
Jay Conner [00:14:05]:
I got 3 of them. So recap them again. Number 1 was what? Learners. Learning. Yeah.
Brad Sugars [00:14:12]:
Have a mentor, coach, someone who’ll push you, someone who’ll cajole you, someone who’ll make you do things that are uncomfortable that you don’t wanna do, but you know you have to do them to be successful. Yeah. Number number 3, give value. And number 4, do it with integrity and and
Jay Conner [00:14:30]:
I love it. I love it.
Brad Sugars [00:14:32]:
And it’s funny though, Jake. They’ve all taken such massively different paths to get to success. The path isn’t really what matters. What matters is how we approach it, I think, is probably the big thing.
Jay Conner [00:14:44]:
Yes. Success, in my opinion, is a very vague word because success can mean so many different things to so many people. Most often, when we say here in America, oh, well, they’re successful. That’s right. They are they are probably referring to what people can see, their their visual wealth, you know, their assets, that maybe other people think they own when they don’t even own them. They rent them. Right? You can never judge about Discover. But you’ve interviewed all these people.
Jay Conner [00:15:30]:
So when you boil it down, you personally, Brad, what’s your definition of success, and how do you know you have attained it if you can?
Brad Sugars [00:15:44]:
Yeah. It’s interesting because pretty much everyone I’ve spoken to on this subject, their definition has evolved over their lifetime. As a young man, my definition was definitely about the physical assets, having the cars and the watches and the the the all the things. Interestingly enough, when I got to the phase of having all of the things, it was like, is this what success is? What I’ve learned since is that success is really about the feeling of fulfillment. It’s about feeling fulfilled. And what fills your cup will be different over your lifetime. What before I was a dad, you know, I didn’t know how much that would fill my cup having great kids. And, you know, now I have 5 kids.
Brad Sugars [00:16:29]:
That level of fulfillment is very high. That fills my cup. And there’s times where it’s like, I could go to work and go and do that. I, you know, I just got someone just wanted me to go and do a speech in Dubai, and I’m like, you know what? No. That’s my kid’s birthday. I’m not gonna go. I’m gonna be with my kid because that’s what’s more important to me. So success comes down to what’s important to you.
Brad Sugars [00:16:52]:
And at different phases in life, different things are gonna be important to you. Knowing that your fulfillment is a priority and feeling fulfilled will lead to more success. You know, if you’re doing a job you hate, you’re not gonna experience fulfillment. Therefore, you’re not gonna feel successful. Whereas if you and people have asked me, are you saying I should quit my job and go do something else? Yes. Yes. I am. If you hate what you’re doing, go do something else.
Brad Sugars [00:17:26]:
You know, as the great Jim Rohn said, you’re not a tree. You can move. You know, it’s it comes back to Jay really about being fulfilled in life. And that’s why I’m very lucky in that my company, ActionCOACH, we have, you know, 1,000 and something offices. It’s just under 1100 offices in 84 countries now, and we coach business people. And everywhere I go, they get to tell me, thank you for doing what you do. You know, I feel great about the work we get to do every day, helping people increase their cash flow and build a better asset in their business.
Jay Conner [00:18:04]:
Would you say most of your clients are individuals who want to start a business and they wanna start it right? Or would you say most of your clients already have a business and they want it to run better or have it stop running them?
Brad Sugars [00:18:22]:
Yeah. Most of them, who are our clients at ActionCOACH are business owners. But at the Brad Sugars brand, I take the other group where I take those who want to start their own business, and teach them what it takes and what it looks like to start your own business. Because where we see business fitting into the wealth equation is twofold. Number 1, cash flow. You know, cash flow is a very massive potable wealth, not cash, but cash flow. Having the flow of money and, you know, independence or freedom comes when that cash flows, whether you’re doing the work or not. And its business is by far the highest return cash flow generator for the right type of people.
Brad Sugars [00:19:09]:
And when I say the right type of people, you’ve gotta have that entrepreneurial flare and you’ve gotta want to do that thing. You know, there’s a lot of people that prefer to have that safety of a job, and that’s brilliant. I love that there’s a lot of people that love that. But the cash flow side of it is it and then obviously building a business that you can sell. Every business person will have an exit at some point, You know? Whether they like it or not, it’d like to be in a pine box, or it can be an exit where you sell that thing to someone and get paid handsomely for building a great asset.
Jay Conner [00:19:43]:
Yes. Well, that’s great advice right there, Brad. So I’m gonna give you a very broad question so you can answer you can answer this whichever way you wanna go. But I know your answer is gonna be very valuable to all of our listeners, particularly those that are wanting to start a business or those who are already running a business. You know, you sort of alluded to this when we started. And, you know, I am a real estate investor. I primarily fix and flip single-family houses. I’ve done commercials as well, shopping centers, etcetera, but single family.
Jay Conner [00:20:17]:
So there’s a huge difference between being a real estate investor and doing deals and doing transactions and running a real estate investing company. 2 completely different, like, aspects. With that in mind, what are some common, mistakes or challenges that you see business owners and entrepreneurs have, let’s say, starting? I won’t be so broad as they’ve been seasoned, but starting that perhaps they haven’t thought about, before, you know, engaging and being an entrepreneur, what are the red flags and things that a new entrepreneur should be aware of? And that I know I know the list is long, but
Brad Sugars [00:21:07]:
Yeah. Yeah. We could we could spend weeks on that one, but I’ll give you the top 3. Number 1, being too cheap. Meaning, not charging enough for their services, not building in because when you go from you know, if you go from real estate investing where you got the 1 or the 2 and you’re doing that when you turn it into a business, now you got expenses. Now you have staffing. Now you got now you got now you got you can’t be pricing too low. You gotta build in that.
Brad Sugars [00:21:34]:
And that’s where I see most start-up businesses. They try they think, well, I can do it cheaper than the next guy. You don’t wanna be the cheapest. You actually wanna be ideal, you wanna be the most expensive. You wanna be at that top end of the spectrum because business isn’t about revenues, it’s about profits. And the only way to make profits is to make sure that you are getting value. You know, as a wise man once said, if you solve rich people’s problems, you make rich people money. You’ve gotta be more towards that top end.
Brad Sugars [00:22:04]:
Being the best of the best would be the ideal scenario of business. Number 2, they wanna do it all themselves. They think they’re gonna save money by doing it themselves and ultimately saving a wage or cost you a fortune. Mhmm. You know, they they it comes back to having professionals. I remember my first-ever property development. You know, I didn’t know what I was doing, and I was building a 4 pack of apartments. And, I brought in all the professionals to help me do it.
Brad Sugars [00:22:37]:
And by the end of the day, I thought, hey, I don’t need to do anything. And to me, that was like, yes, I’m successful. I didn’t need to do it and it still made me money. Last night, I was on the phone with, one of the town planners who we’re doing another development in Australia right now, and we think we’ll get somewhere between 67 and 73 apartments approved on this one particular development. But this guy, Jay, he knows more than I do. He’s better than me at this job by a mile. I know what questions to ask, but I don’t know how to do it and do the answers. And he’s also got the patience to deal with all of the wonderful people in the city, which I probably don’t have that level of patience anymore.
Brad Sugars [00:23:20]:
But you’ve gotta hire people better than you. You’ve gotta hire people better than you. You know, and that’s that’s a big part of it. And I think that we try and be, you know, you pay peanuts, you get monkeys. It’s it’s not much more complex than that. So number 1, be a better, you know, better pricing, higher pricing. Number 2, hire more people than you can afford. The better pricing allows you to afford great people.
Brad Sugars [00:23:44]:
But number 3, and this is gonna impact a lot of people and it’s part of why I wanted to be on your show today, raise capital. You don’t need to bootstrap it. The old, well, I keep hearing these words, you know, hustle and grind. Yeah. Hustle and grind. And I said, no. No. Hustle and grind is the new student.
Brad Sugars [00:24:06]:
You know, you gotta build the capital to be able to build the business. And to build the capital, you gotta write the plan. You gotta have the you know what I mean? You gotta have it thought through. And if let’s imagine Jay, you came to me with a business plan. Right? And you then went to 49 other very successful business people and you asked 50 successful business people to invest in your business and you showed them your plan, and 50 of them said no, there’s probably a pretty good chance you gotta rethink your plan.
Jay Conner [00:24:37]:
There’s a pretty good chance you should not do that plan.
Brad Sugars [00:24:42]:
You know, but if you should this this is where, and again, get back to the team. If imagine you, Jay, me, and Bill Gates well, let’s leave Bill out for now. He’s in the in the the negative books right now. You, me, Warren Buffett, and Elon Musk put a business plan together. We didn’t even tell people what was in the business plan. We just said it’s Brad Sugars. It’s Jay. It’s Elon.
Brad Sugars [00:25:07]:
It’s Warren Buffett. They’re gonna start a business. Do you want to invest? You know what people are gonna say? Yes. Yes. And they say, what’s the business? We’re not telling you. You just get to choose. Do you want to invest with these 4 successful people? That’s what ends up happening. You know, I think that people and this is a big part of raising capital.
Brad Sugars [00:25:26]:
It’s your it’s your track record. It’s who you are. It’s what you’ve done. It’s people gotta believe in you. They’re investing in you. They trust you. And the reason I can raise capital when I go to do things is because of three things. Number 1, I built a database.
Brad Sugars [00:25:42]:
I built a database over my entire life by teaching, by meeting people, by networking. I have a database of people that when I go to do stuff, I say, hey. I’m doing this. Anyone interested? Guess what happens? People are interested. Like, I’ve just started our new AI platform to teach people how to run their business, and we’re about to raise 6,000,000 for that one. And I’ll go out to the database, and I will be oversubscribed in the first 17 minutes. I guarantee it. As soon as I email a database, it’ll be done.
Brad Sugars [00:26:12]:
We’re in. Why? Because of my track record, because of what I’ve done. But I built the database, I built a track record, and guess what? I made some people some money. You know, it’s amazing how when you make some people some money, you get them to tell the world and, hey, presto. That’s the thing. But, you know, whether I raise capital through franchising, whether I raise it through joint ventures, whether I raise it directing shares, whichever methodology, we bring capital to the table because if you’re gonna run a business, it’s gonna need capital. There’s
Jay Conner [00:26:44]:
There’s a lot that you said, Brad, that I wanna unpack. But one thing that you said rings home to me, and it’s because it’s the way I screwed up. So the way I screwed up when I started running my business and opening it up, I felt like nobody else could do what I’m doing as well as I’m doing it. I guess I’m a guy that has testosterone. Right? And that’s just the way we think. Nobody else can do this as good as me. And I found myself running around with my hair on fire for about 12 hours a day.
Jay Conner [00:27:21]:
And I woke up about a year into this, and I said, wait a minute, Jay. I thought you quit that over there. Just start your own thing over here and have some freedom and have some time.
Brad Sugars [00:27:36]:
Yeah.
Jay Conner [00:27:37]:
And put your schedule. And why is it a year down the road, I’m working 3 times as hard as I did when I had somebody I’m on? Me a check. And this is not this was not my plan.
Brad Sugars [00:27:52]:
My joke on that one, Jay, is you thought you worked for an idiot before. Yeah.
Jay Conner [00:27:59]:
Thank you very much. And so I set out on a mission, Brad, after I was in this for about a year to automate everything in the world I could. And what’s the definition of automation, at least for me, is I’m either outsourcing to people or I’m outsourcing to technology and software that makes all of our lives so much easier. And so, for example, the proprietary software that we use for me to communicate with my entire team, like in real estate investing, I’ve got the same acquisitionist for 19 years that talks to all the sellers. And I’ve got the contractors, and I’ve got the realtors. We all communicate in the same software. I never speak to my acquisitionist, Kim, unless it’s her birthday, anniversary, or Thanksgiving, and I’m just wishing her well. And so what I discovered, Brad, is that for goodness sake, most of the team members that I brought in to start doing stuff that I was doing, they do it better than I ever was doing it myself.
Jay Conner [00:29:01]:
And so, you know, I found out the more I get out of the way and just be the 3D guy, which stands for dictate, delegate, disappear, and show back up when they least expect it, It just seems like I got my life back. And you know what’s funny? The less I actually implement and take action on that task, the more money I make.
Brad Sugars [00:29:30]:
The definition or my definition of a business is a commercial profitable enterprise that works without you. If you have to be there, it’s not a business. It’s a job, and you work for a lunatic. Let’s be blunt about that. Most of us most people don’t build a business. They build a job, and they’re stuck in there. They track themselves with the business. The the point of and we we take people through a 6 step phase.
Brad Sugars [00:29:57]:
We built the recipe. When I wrote the book, the business coach, it was about the recipe for how we, grow successful companies. And when I wrote that book, we’d already coached 13 and a half 1000 business people to success. So it wasn’t theoretical. It was this is what we do. And so we take them through the 4 areas of mastery to create a commercial enterprise. We take them through the 5 ways of marketing to get the cash flow running in the business. Then we take a look at the, 9 steps to systemization of the business, then the 6 keys to a winning team, and then the 5 disciplines of scale.
Brad Sugars [00:30:29]:
And then we hit the freedom choice of do you let the business run without you, or do you build an excitable, business? And I think Jay, that, you know, the way you build systems in your business is the way we built a system for building businesses. And that’s the success factor I love giving people is, like, this is, you know, as hundreds of thousands of companies have now gone before you following this system. If you follow it, you’ll build a great business too because you’ll become a great business owner, not just a great technician in your own business.
Jay Conner [00:31:02]:
Yeah. I wanna own my business. I don’t want my business to own me for sure. Mhmm. Brad, brilliant insights. I could talk to you for 4 more hours, but we’re out of time. But I know the audience wants to continue the conversation with you, about your coaching, business coaching, becoming an entrepreneur, becoming a better entrepreneur. Think of all the entrepreneurs out there, listening to this show that feel like they have created another job for themselves.
Jay Conner [00:31:35]:
They feel like they’re inside actually a cage. If you’re listening to my voice right now, how would you like to have someone help you create an exit strategy to where you can actually have your business that is salable? If you don’t think your business is salable, I guarantee you Brad and his team can help you out. Brad, how can they reach out to you?
Brad Sugars [00:31:57]:
Bradsugars.com to get the training stuff or action coach.com if they wanna jump over and get a coaching session. But, they can but here’s the real interesting thing I love to help people learn and grow. And if for the next 90 days, I spent half an hour with someone, and let’s just say we had lunch together. Now, of course, I’m not gonna show up every day for half an hour, but during COVID, I built myself a TV studio because I was bored, and I spent 30 days filming stuff about how to grow a successful business. 30 days on how to build success in life, this life success principles and strategies. And then 30 days on how to build wealth in your business. So build a business plan, a life plan, and a wealth plan over 90 days. So that’s that 90 days is what I think everyone should do.
Brad Sugars [00:32:45]:
Jump with me. Come spend 90 days with me, and there’s a super special deal with people. Click the link on yours, Jay. It’s instead of it being $3, we’ve given it to everyone for $297 right now. That’s one one-time payment. They can watch it as many times as they want. But lunch with me for 90 days might, well, they might start speaking Australian, but you never know. Maybe it’ll change the way they think, and therefore, it’ll change the way their life works out.
Jay Conner [00:33:12]:
I love it. Brad, thank you so much for your time and for sharing your expertise. Thank you so much.
Brad Sugars [00:33:18]:
Love being here, Jay. Thanks for all the work you do.
Jay Conner [00:33:20]:
You got it. And there you have it. Another amazing episode of Raising Private Money. I’m Jay Conner. So glad you joined us. If you happen to be watching or listening, rather, on iTunes, Spotify, or any of your favorite podcast platforms. Be sure and follow me, so you don’t miss out on upcoming episodes. And if you happen to be watching on YouTube, be sure and subscribe, like, and share.
Jay Conner [00:33:45]:
Be sure and click that bell on YouTube so you don’t miss out on the upcoming episodes. I’m Jay Conner wishing you all the best, and I’ll be looking forward to seeing you right here on the next episode of Raising Private Money.
Narrator [00:34:02]:
Are you feeling inspired by the knowledge you gained in this episode? Then head over to www.JayConner.com/MoneyGuide. That’s www.JayConner.com/MoneyGuide., and download your free guide that shares seven reasons why private money will skyrocket your real estate investing business right now. Again, that’s www.JayConner.com/MoneyGuide. To get your free guide. We’ll see you next time on raising private money with Jay Conner.