Ideas abound. In fact, there is no shortage of ideas… ever! That’s what Cash Flow Diary podcast guest and serial entrepreneur Toby Salgado talks with me about in this incredibly insightful interview. Toby took his first steps into entrepreneurship and sales at the tender age of 9 when he sold toilet bowl cleaners door to door, offering a double-your-money-back guarantee. Let’s just say he’s a natural! Later his experiences would lead him to open not just one but several successful businesses. There are reasons. That’s what Toby teaches others and talks about in this episode. For example, taking action steps and executing on your ideas. Does that sound familiar? I found myself nodding a lot as Toby answered my questions, because his viewpoints and mine are much the same. It’s pretty exciting to hear someone else say the things I always tell others! For example, Toby says your net worth is reflected by your network. Hey, it’s true. But he doesn’t stop there. He shares a couple of very cool “ninja secrets” in how to build your network relatively quickly. We also talk about how to get referrals, how to become the influencer in your circles, why taking action is critical, why building a great team is important and so much more. This episode is spilling over with helpful how-to’s that every entrepreneur and investor can use. Listen Now.
On this episode of Cash Flow Diary J. interviews Toby Salgado who is the creator of Super Agents Live. Toby deals with top producing real estate agents and only advises people who want to become millionaires. This podcast will help you make bigger, better, and badder progress!
7:18 Hearing the first ‘no’
8:53 Your net worth is your network
10:31 Finding your network
13:00 Quality vs quantity of team members
18:30 Consistency between multiple industries
22:32 Learning to recognize signals for opportunity
28:00 You don’t know what you don’t know
32:05 Due diligence process
35:48 Super Agents Live
37:29 Becoming a real estate agent
39:27 Investors contacting agents
43:59 Moving on from mistakes
45:44 Toby’s contact info
Main Questions Asked
- What’s your ‘origin story;’ who were you at the beginning?
- What was it like when you heard your first ‘no’ in sales?
- How do you go from toilet bowl cleaner to tech industry?
- How do I find out who is in my network and what ideas I should execute?
- Have you found the quality of people assisting in executing the vision to be key?
- What is consistent between the multiple industries you’ve been in that has allowed you to see success?
- Where did you learn to recognize signals for opportunity?
- What would you say to someone who wants to find his or her opportunity?
- Has there been a time when you’ve found an obstacle?
- How have your mistakes changed your due diligence process?
- What is Super Agents Live?
- What do you say to someone who wants to become an agent?
- How do investors interact with top producing agents?
- What is the one thing you would tell your former self?
- How do you move forward after a mistake?
Key Lessons Learned
- Look outside of your world for inspiration (even outside your area of expertise)
- Say yes and figure out how to do it later
- Your net worth is your network
- There are lots of good ideas but what is lacking is execution
- People often have a million dollar idea but just won’t go and do it
- If you are known for being good at execution people will offer concepts for you to make happen
- Facebook friend or connect on LinkedIn with people in your high school yearbook (this will build your network)
- When you have down time go though your cell phone contacts list and call or text your people (keeps you top of mind)
- Success is based on small windows of opportunity (take advantage of them)
- Where there’s chaos there’s cash flow
- The important thing is interpreting signals when they come your way and turning the signal into a solution that becomes a business
- Find a deal and you can find money
- There is a huge supply and demand imbalance which means there is lots of money but few educated individuals who know how to use the funds in an appropriate way
- You don’t know what you don’t know
- A great question to ask that will reveal what you don’t know you don’t know is: “What question am I not asking that you know I should ask?”
- You can find inspiration and answers in your own network (they will often crowd source their network for you)
- Real estate is the one thing that has built wealth for thousands of years
- Real estate has made more millionaires than any other industry
- Only 2% of real estate agents make more than $200K a year
- If you are an investor find an agent who has a niche so you can find deals
- Everything is about being able to sell and having influence.
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Links to Resources Mentioned
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