Category: Entrepreneurship

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We don’t work just to accumulate money. We work so we can live… Most people forget that. Jack Bosch

We don’t do a whole lot of Carrot Cast episodes on wealth, per se. Most of the people we have on here, or the topics that we talk about, of course, are related to helping you build wealth. But the thing is, most of us entrepreneurs go out building that business…building that first business. Creating those income streams. For some reason, we don’t implement the actual things that would help us to become financially free and actually truly wealthy. It’s not wealthy for being wealthy’s sake. I think it’s really that first thing that I mentioned before, with being free…being financially free, so you can go out there and do what you want to do.

For me, my definition of financially free is to never, ever have to worry about money. Where money isn’t even a factor in any of the decisions that we’re making. That, to me, is financially free.

Also, it’s where I’m earning the income doing the things that I love to do. Not grinding away. You could totally have to not worry about money ever, but you could have no life because you didn’t structure the way that you’re generating your income, in a way to where your money truly serves you, rather than you being a slave to it.

On this episode of the CarrotCast, I’ve got a special guest with me. A longtime friend of mine, Jack Bosch, who is an investor. He’s flipped thousands of pieces of land. He’s an apartment building buyer and owner now. We’re going to talk about his story and we’re going to talk about what he calls the wealth wheel.

The reason I brought him on isn’t that of the land investing, although we will talk about that a little bit. It’s not because of the apartment investing, which we’re gonna talk about a little bit. It’s not really necessarily his story from coming to Germany as an immigrant, broke and turned into an amazing seven and eight figure a year entrepreneur.

It’s the mindset that goes into building true wealth and how to really use real estate, whether you’re a wholesaler, a flipper, an apartment building investor, but especially if you’re a wholesaler or a flipper listening to this. Eight out of ten wholesalers and flippers that I talk to do not set up their businesses to build true wealth. They set up their businesses, honestly, to be high paying jobs. It ends up tying you down. It ends up doing the opposite of why you started that business in the first place.

This episode we’re gonna walk through the wealth wheel and some concepts out of Jack’s book that he wrote. Also, we’re gonna tell you how you can get a copy of his book for free because I really believe in the message that it puts out there on how you can really build true wealth and really gain real freedom in your business and from your business, rather than earning a high paid job for yourself.

Take notes and identify where on the wealth wheel you are. Odds are, you’re only probably doing one or two of the things on the wealth wheel and you’re going to perpetually be on this hamster wheel, where you’ve always got to work and always got to bust your butt in order to make the income, instead of the income working for you. Let’s dive in.

So listen to this episode of the CarrotCast and check out the other episodes at carrotcast.com.

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Learn some amazing methods and mindsets for how to achieve financial freedom and build true wealth… Enjoy!

2:20 – Why Trevor admires Jack’s ability to run his business and still be able to travel.
6:45 – Unpacking the mindset of traveling with family and using business as a vehicle for his passions.
12:30 – How to eliminate the stressors in your life in order to free up valuable time and build relationships.
16:15 – How Jack has built his real estate portfolio to produce lifelong, generational, cash flow.  Land flipping via seller financing to rentals.
22:05 – Delegating and trusting his team so he can concentrate on building consistent income.
25:35 – The “Growth Wheel” — the active to passive income cycle.
30:15 – The theory of cash flow — Getting yourself to the next asset faster.
34:35 – Free Book Offer

The FIRST 20 People Who Comment and Leave a Rating on iTunes Receive a Free Copy of Forever Cash by Jack Bosch

Once You Leave a Comment and Rating — Email Support@oncarrot.com — We’ll Verify and Send You a Free Copy.

36:05 – How to start getting out of debt and building financial freedom using the expansion model.
41:45 –  Building a passive income machine.
44:50 –  Peeling back the Cash Flow Wheel.
49:35 –  Planning out your income life.
51:55 –  Where Jack plans to take his business.
54:45 –  Tying it together: Be sure to check out these past CarrotCast that tie into Jack’s conversation.

• From 0 to 3,347 Multi-Family Units: “How I Did It” w/ Carlos Vaz
• Working Too Much And Profiting Too Little? I Interview My Favorite Author Mike Michalowicz
• Flipping Vacant Land: How Gary Horton Pivoted His Wholesaling Business In A Tough Market To Be On Track To Flip 100 Pieces Of Bare Land In 2017.

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This is a wakeup call… If you’re waiting for the World to come to you, if you’re waiting for business to come to you – even if you have the best tools out there – it’s going to be really, really hard to be an entrepreneur.

Trevor Mauch

Every business should have 1 or 2 key metrics that are your “north star” at any given time. Right now ours is Net Promoter Score because it is the simplest way to gauge overall happiness of our clients. In the spirit of transparency, we recently had 2 of the worst NPS ratings we’ve ever had in our 3+ years in business.

To give it context, our NPS is scaled from 1 (being bad) to 10 (being world-class amazing)…

Over 84% of our clients who have rated their experience w/ Carrot have rated it an 8 (77 people), 9 (102 people), or 10 (571 people).

So any time we get a rating that isn’t an 8, 9, or 10 it makes us take notice to see how we can improve the experience for every client who is willing to put in the work to be successful… and it also highlights the entrepreneurial mindset of those who are bound to crush it vs. those who will have a tough time.

In this episode, I discuss what I saw, why it happened, how we track net promoter score and also dive into the psychology of negativity in success.

Listen to our other episodes at www.CarrotCast.com.

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Find ways to rethink negativity and add positivity back into your business and life on this episode of the CarrotCast …

5:20 – Everyone can’t be happy or satisfied all of the time. That’s just the nature of the beast. That’s why we’ve implemented the net promoter score to track how satisfied our members are and to push Carrot to be the best.
8:25 – The unthinkable happened… we had two people within five minutes give us a rating of 1. Find out how we addressed these anomalies.
13:30 – What is your path to success? Do you have a strategy? Do you know your marketing numbers?
16:00 – The story of the second “1” rating: How the perception of “it’s not my fault, it’s yours” can have a negative impact on your life and business.
20:25 – The major differences between someone who will make an impact and someone stuck on the hamster wheel. Create a different mindset and own your failures and your successes.
25:00 – What a mindset transformation can look like. Sometimes it takes major events in your life to break down and make a change finally. Need some inspiration? Watch this…

29:30 – Making your purpose come true. Drown out negativity and fill it with positivity.

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There are so many reasons why a boom and bust business model is not good. One of the main reasons is that you can’t plan big… I want to wake up every morning on the first of each month knowing within a 10% variance what my income was going to be that month.  Trevor Mauch

Trevor Mauch has started several businesses over the years and is the CEO of Carrot, but his previous businesses grew to trap him in a life he simply wasn’t loving. Working too many hours, on things he wasn’t passionate about, making great money but without the passion for what he was doing, and a boom and bust business model that made it hard to plan ahead.

In this CarrotCast, Trevor dives into the simple concept that changed his business and life… setting “non-negotiables” that he decided to live by and build his next businesses by. You’ll hear his journey, what those 5 non-negotiables are, and how you can create your own.

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Dive in and learn Trevor’s 5 non-negotiables in business and life…

3:15 – Building a framework and mindset to right the highest highs and the lowest lows.
6:10 – How to mentally handle the transformations that occur while being an entrepreneur, finding your non-negotiables, and understanding how hard being an entrepreneur really is.
12:50 – Trevor’s non-negotiables. Going from a boom or bust business model to amplifying leads and adding humanity back into business.

17:00 – Non-negotiable #1: Focus on the BIG thing. Two great books to help you zero in on the big thing:

The Pumpkin Plan

Essentialism

19:25 – Non-negotiable #2: Have fun and have a big mission that you believe in at your core.
20:55 – Non-negotiable #3: Be consistent and predictable. Building a business that is the opposite of the boom and bust model.
23:30 – Non-negotiable #4: Build a long-term valuable asset. Ensure your family and your business are taken care of if something happens.
30:10 – Non-negotiable #5: Finding your purpose and working within your unique abilities.
36:10 – Finding that true purpose in your life.
50:30 – Timing is vital in life. Understanding what it takes to succeed and let the process unfold for you. 

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I get more excited seeing somebody else that is $20,000 in debt and they’re just wanting to get out of the rat race and they do their first deal and you can see on their face that their shackles are coming off of their hands and ankles… They’re realizing that they can do and be so much more in the world.
Jason Lucchesi

Jason Lucchesi jumped into real estate investing right when the last downturn started and built up a solid real estate investing business, shifting and changing as the market changed. But then he realized he’d built a business that he was a slave to.

He was working long hours, making a great income but no time to enjoy it, and not enjoying the business he’d built. Then he decided to stop grinding and start building a business he loved.

Jason talks about his journey and how he’s adapted his strategy as the market has shifted and talks about how he created systems and brought on people who could help him grow a business that flips 6-7 deals a month with little of his involvement so he could focus on his passion for coaching and helping others do what he’s done.

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Dive in and listen to Jason’s journey…

5:50 – What Jason’s real estate investing business looks like… team, deals, and focus.
9:35 – Diving into what people never talk about… Why do investors choose to teach others what has made them successful?
13:15 – Why putting time into finding your unique abilities, “superpowers,” is so important?
16:35 – Jason’s team dynamics and how he has created the perfect flow for his business.
18:50 – What pulled Jason into starting his real estate investing business?
21:50 – Shifting business to adapt to the current real estate market. How things have changed over the last several years.
25:20 – Jason’s opinion on what an investor should do in certain phases for the market to protect themselves and capitalize.
28:35 – How might the real estate investing business model shift over the next 24 months.
31:45 – Writing and publishing a book – “Right Flipping Now” – is Jason’s way of carrying on his story.
37:30 – Processes to eliminate extra work. How to run a business without the business running you.
43:30 – What is the best advice for an investor who is currently grinding away trying to make it happen?
46:20 – How to track and ensure your business “machine” is properly working.
48:10 – What Jason is most excited about in his real estate investing business right now and where he plans to go in the near future.

You can find out more about Jason at jasonlucchesi.com

Want To Apply To Collective Genius? Go Here

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The reality is, the guy flipping 250 homes, when you’re flipping 50, is that he might not be able to teach you a lot about real estate but he’s going to teach you a lot about running a business. His business and his problems are completely and vastly different than yours when you’re doing 50 deals.
Jason Medley

Many entrepreneurs try to go it alone for the first phase of their business career—the lone wolf. The “I’ll figure this thing out”—the rugged individualist.

But eventually, we discover that there are other people out there way smarter in many parts of business and life that we can learn from… and if we can get around a group of amazing people consistently, it can really uplevel our game.

I went through that conversation myself 7 years ago and joined my first Mastermind.

Don’t forget to check out our other episodes at CarrotCast.com.

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In this episode of the CarrotCast I talk about real estate investor mastermind groups with my guest, Jason Medley, the founder of the Collective Genius.

4:15 – How Trevor and Jason met and Jason’s path through real estate during the market crash years.
8:05 – Performing market research. How to pay attention to trends, market your business, and drive success.
10:20 – How the idea of real estate investor mastermind groups was born.
15:25 – The benefits of being part of a mastermind.
17:50 – What most wholesalers look at as a key metrics for tracking the market.
21:30 – Why it’s critical for someone who is up-leveling their business to take advantage of mastermind.
30:50 – How often you should focus on #1) ROI and #2) taking time off away from your business.
33:40 – What the structure of a mastermind group looks like. 
37:45 – Measuring growth in small numbers, building relationships, and leading for the long-haul.
43:50 – Why you need to set and operate from a clearly defined set of core values.
45:30 – Tax saving tip: 90% of rehabbers don’t know about – The DPAD “Domestic Protection Activities Deduction”
48:00 – Two other tricks to keep money in your pocket:

1. Export 90-days worth of leads and use them with an automated voice mail campaign system such as Slybroadcast.
2. Create an automated follow-up sequence for 12 months.

53:25 – The benefits of retargeting with Facebook by using a custom audience and targeting emails.
57:10 – Why Carrot decided to make Collective Genius an official partner.

If you are a Carrot member and interested in joining the nation’s top real estate professionals, then check out The Collective Genius in our marketplace. Learn more about the requirements to join The CG.

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If you really are looking for a way to brand yourself, to get started and test concepts, there’s not a better place than small town USA.
Jason Duff

Wholesaling and flipping are the gateway “drug” to long-term investing like my guest today focuses on.

Jason is one of my greatest entrepreneurial inspirations, a good friend of mine, and one of the most amazing real estate investors and community CHANGE AGENTS I’ve ever known.

In this episode Jason breaks down how he grew his outdoor advertising business to over 600 billboard faces in Ohio, how to strategically buy properties in the same area and bring businesses your community wants and gain equity in those businesses (in addition to the cash flow from your property), and why he’s almost single-handedly changing his small town community in Ohio.

If you’re not inspired by the end of this call, I don’t know what will get you going.

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In This CarrotCast Episode, We Cover…

2:50 – A little bit about Jason and his entrepreneurial/small business mindset.
7:30 – Why investing in a small town is so important to him.
9:40 – How Jason has built a very successful billboard advertising company with over 600 now in Ohio.
14:15 – His billboard business structure and what it costs to purchase and put up a billboard.
18:50 – How Trevor and Jason first met – Skydiving! And, how it turned into raising over $100,000 for microloans for women who have dealt with poverty. Also, check out opportunity.org.
25:00 – Bellefontaine Ohio – Jason’s business model for revitalizing Bellefontaine’s downtown scene.
29:00 – Pretty Awesome Lesson: How Jason scopes out major metropolitan and mid-level markets to generate ideas for small towns.
32:55 – How to build real estate synergy and the why going the extra mile really can make a huge difference.
37:05 – Why investing in self-storage turned into the ability to get financing for old, downtown buildings.
40:30 – How to benefit from tax credits and section 179 deductions.
42:20 – Passing along some important real estate lessons he wished he would have known before.
47:20 – What it means to him to save and promote a small town, creating a training for investors who would like to invest in small town USA, and what his vision is for the future. Get more inspiration by checking out and following Jason on Facebook.

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As an entreprenuer, you like to start new things and you want it to be perfect. But, a lot of times it’s hard to trust anyone other than yourself.
Mike Blankenship

You’ve considered quitting on the dream you’re pursuing. If you haven’t, then it’s just a matter of time. How do you give up on this give-up mindset?

Carrot’s latest intern on the Content team puts Carrot CEO, Trevor Mauch, on the hot seat, diving into Trevor’s past — the moments and lessons that have led to where he is today.

Mike asks questions regarding purpose, passion, the story of Carrot, and how Trevor was able to get through his biggest setbacks to come out even stronger.

This conversation will give you several actionable “success habits” that could change the direction of your life and your business.

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In This CarrotCast Episode, We Cover…

2:20 – Who is Mike Blankenship? – From Christian Ministry to trying to find a new passion.
7:40 – Connecting with great people – How Trevor and Mike connected.
9:30 – Mike discusses the freedom to creatively work on targeted content as one of the main reasons he chose to take an internship at Carrot.
15:20 – Trevor’s struggle to allow more authority within Carrot teams and his understanding, that, to attract “A” players, you must allow them to march forward without resistance.
18:10 – Q&A – How long has Carrot been a company?
19:45 – Q&A – What are the biggest setbacks Trevor has experienced with Carrot and how did he overcome them?

24:25 – Why it is important to set a mental tone for your day. The life of an entrepreneur can be one heck of a roller coaster ride.

Image Via Derek Halpern

26:10 – Part of finding your purpose is finding your unique abilities and learning how to work within them. One important step is creating a daily productivity program. Check out these examples…

Download Trevor’s Daily Productivity Worksheet

Download Adrian’s Daily Productivity Worksheet

32:40 – How Trevor deals with life and the struggles of entrepreneurship: Build a foundation so you’re living life rather than cleaning up messes.
33:20 – Why having a mission is vital for success, how to find it, and how to decide on a business model that fits within your purpose.
35:00 – Stories about culture, longevity, and finding a purpose that forces you out of bed.
44:30 – Being Practical – Stop focusing so much on finding your purpose and just do the best you can.
50:00 – Decluttering your life and amplifying your leaders using the Pumpkin Plan method.
54:30 – Take care of the little things and stop putting pressure on yourself to find purpose.
55:10 – Keys to keeping a positive attitude.
59: 50 –  Two pieces of advice for inspiring entrepreneurs: Incredibly easy methods that work.