Lessons from $30,000 hr Coaching w Grant Cardone Ep 275

In a candid discussion, the host reveals his experience with high-priced coaching from Grant Cardone, emphasizing the value of investing in skills and knowledge to accelerate personal and professional growth. He shares insights on prioritizing wealth strategy, the merits of diversifying income streams, and the importance of belief systems in achieving success. The host's key takeaways from Cardone include focusing on wealth accumulation, expanding lead generation across various industries, and the power of setting exponentially higher goals. Additionally, the host advocates for learning from anyone who excels in areas where one may lack expertise, regardless of their income level, and encourages a mindset shift from envy to intrigue to foster personal development.

• Grant Cardone is a high-value coach with a fee of $30,000 an hour.
• The speaker has invested in four hours of coaching, planning to use one hour each quarter.
• The intention is to learn and share the acquired knowledge.

I started getting one on one coaching with Grant Cardone, and if you're curious, it's $30,000 an hour. This quote indicates the level of investment the speaker is making for personal coaching with Grant Cardone and the high cost associated with such specialized, individualized guidance.

• Skills acquisition is essential in the early stages of development.
• Spending money to learn from experts can accelerate skill acquisition.
• Investing in skills can provide a return on investment by saving time.

In the beginning, you really just need to acquire skills. The speaker emphasizes the importance of skill acquisition at the start of one's career or learning journey, suggesting that foundational skills are crucial for growth and success.

• The speaker has spent significant amounts on coaching and information.
• Information is seen as a way to buy time back, learning skills faster than through self-study.
• The return on investment from learning skills quickly is considered the best investment.

Information is the only thing that allows you to buy time back. This quote highlights the speaker's belief in the power of information to accelerate learning and the acquisition of skills, effectively saving time that would otherwise be spent on longer, self-guided learning processes.

• After acquiring skills, character traits and beliefs become important.
• Self-work is necessary to develop the right character traits.
• Beliefs can be difficult to recognize and change without external help.

We question all of our beliefs except for those that we truly believe and those we never think to question. The speaker reflects on the difficulty of questioning one's deeply held beliefs, suggesting that it is a challenge to identify and address incorrect beliefs without external perspectives.

• The speaker sought advice on wealth strategy, income strategy, and managing personal brand and fame.
• It's important to address wealth before other objectives.
• The speaker has a conservative approach to investing, preferring stable returns over speculative investments.

You needed to deal with your wealth first. This quote shows that Grant Cardone identified wealth management as a priority in the speaker's strategy, indicating the importance of securing financial stability before pursuing other objectives.

• The speaker has accumulated significant wealth and has invested half in equities, specifically index funds.
• A risk-averse investment strategy is preferred due to the inherent risks in the speaker's entrepreneurial activities.
• Speculative investments like bitcoin are avoided in favor of more stable returns.

I buy indexes because they're the most stable. The speaker explains their investment choice, emphasizing the preference for stability in their investment portfolio, which contrasts with the risk-taking nature of their entrepreneurial ventures.

• Grant Cardone discusses his current financial strategy, involving equities and cash holdings.
• He is deeply invested in various real estate types: single-family homes, multifamily, and commercial properties.
• A key recommendation from an advisor was to buy a single large building to consolidate investments and focus.
• The idea is to solve the wealth management problem to free up attention and reduce the burden.
• Grant feels a diminishing drive to accumulate cash due to the complexity of managing wealth.
• His plan includes diversifying assets because of his lack of expertise in wealth management.
• Grant contemplates the opportunity cost of learning wealth management versus focusing on income generation.
• He prefers to partner with an expert in wealth management to get favorable deals and continue generating cash flow.
• Grant plans to invest in both single-family homes and large apartment buildings.

"So half my stuff is in equities, and the other half of my net worth is in, well, not net worth, but of my cash is just sitting there, more or less."

This quote indicates Grant Cardone's current asset allocation, with half in equities and the other half in cash.

"And so right now, I'm head deep into whole value life insurance, single family homes, multifamily, and then commercial, which is big apartment buildings and looking at the different vehicles there and seeing which one is best."

Grant is exploring various investment vehicles within real estate to determine the most suitable for his wealth strategy.

"And so his recommendation to me was buy one gigantic building and then don't worry about it."

An advisor has suggested that Grant simplify his investment strategy by focusing on a single large property investment.

"And so one of the biggest belief things that he gave me was that until I figure out my wealth strategy, I'm going to have so much attention on that that I won't be able to."

The advisor emphasized the importance of establishing a clear wealth strategy to alleviate the mental burden and refocus attention.

"And I'll share with you guys whenever what we decide to do as we do it. But I'm going to be putting half my stuff in hard assets and half of it in equities."

Grant intends to diversify his investments between hard assets and equities, sharing his decisions with his audience as he makes them.

"And the reason I'm diversifying is because I don't know. Very candidly, it's not my game, right?"

Grant admits his lack of expertise in wealth management as the reason for diversifying his investments.

"And for me, right now, I'm already at the disproportionate level of return on the information and skills that I have in income generation that, in my opinion, it makes more sense for me to continue to generate cash flow and provide value to the marketplace."

He believes that his strengths lie in income generation rather than wealth management, making it more sensible to focus on what he does best.

• Grant shifts the conversation to income generation and business strategies.
• He discusses the viability of brick-and-mortar businesses in the current market.
• Despite being less optimistic about brick-and-mortar, Grant considers the perspective that service-based businesses may still thrive.
• He mentions essential services like dental care, chiropractic services, and haircuts as examples of resilient brick-and-mortar businesses.
• Grant promotes his book "100 million dollar offers" as a resource for his audience and a potential avenue for future partnerships.

"And so the next priority after that was not dealing with, but talking about income generation in terms of which strategies."

The focus transitions to strategies for generating income and how to approach it effectively.

"I was curious about what his thoughts were on brick and mortar business and where he thought the entire tire space was going."

Grant is interested in the advisor's perspective on the future of brick-and-mortar businesses.

"I think retail is obviously still hammered, but in terms of like brick and mortar services, I think those will be okay."

He acknowledges the challenges faced by the retail sector but sees potential in service-based brick-and-mortar businesses.

"Hey, guys, real quick, if you're new to the podcast, I have a book on Amazon."

Grant takes a moment to promote his book, which he sees as a valuable contribution to his community and a potential basis for future business collaborations.

• Grant Cardone advised the speaker to leverage their expertise in lead generation by expanding into new verticals.
• Despite skepticism from others, the speaker believes in their premier ability in lead generation and is considering expanding their services.
• Grant Cardone's recommendation came from his own experience in diversifying from automotive sales to a broader market.
• The speaker acknowledges the strategic nature of such advice, contrasting it with tactical advice like running a Facebook ad.

"And so that was what his recommendation was, was you've done 100 million plus in a single niche. Now start expanding those skill sets to other verticals so that you can go after a bigger marketplace."

This quote highlights Grant Cardone's advice to the speaker to apply their proven skills in lead generation across different market segments to tap into a larger potential customer base.

• The speaker values the experiences and mistakes of those who are further along in their career, like Grant Cardone.
• Grant Cardone's past experiences offered valuable lessons specific to the speaker's situation.
• The speaker emphasizes the importance of learning from others to avoid repeating mistakes and to gain insights into successful strategies.

"But the point is, the reason I'm paying someone who's further along than me is that he's made mistakes."

The speaker explains the rationale behind seeking advice from more experienced individuals, which is to benefit from their past mistakes and learn how to navigate similar challenges.

• The speaker and Grant Cardone agree that lead generation is a critical and enduring aspect of business.
• The speaker is confident in their company's ability to provide exceptional lead generation services.
• Grant Cardone supports the speaker's focus on lead generation, reinforcing its long-term relevance.

"I don't think lead generation is going to be going anywhere."

This quote expresses both the speaker's and Grant Cardone's belief that lead generation will remain a vital component of business strategy, validating the speaker's decision to focus on it.

• The speaker is open to acquiring knowledge from any source, regardless of whether the provider is more or less successful than them.
• The quality of information is more important to the speaker than the success of the person providing it.
• The speaker has invested in coaching to acquire specific skills, even from someone who may earn less than them.

"I will buy information or get information from anyone I care about the quality of the information, not as much as the source."

This quote emphasizes the speaker's philosophy that the substance of the information is what matters, not the status of the person providing it.

• The speaker believes that anyone making more money than them must be better at something and sees this as an opportunity to learn.
• The speaker advocates for turning envy into intrigue and analyzing what skills or advantages others possess that they do not.
• The speaker encourages a systematic approach to identifying areas of improvement by looking at various aspects of business, such as market selection, acquisition, marketing, branding, sales, and client retention.

"There is a game that rewards value. There is some way that they're providing more value to the marketplace than I am. What is it?"

This quote reflects the speaker's mindset of viewing financial success as an indicator of providing value and seeking to understand how others achieve this to improve their own performance.

• The speaker challenges the audience to identify and acquire the skills that more successful individuals have mastered.
• The speaker suggests considering the sequence of business processes to pinpoint where others may be outperforming them, such as in demand generation, conversion, or scaling.

"Identify what it is, the skill that they have that you do not have."

The speaker urges the audience to recognize and learn the specific skills or strategies that contribute to someone else's success, with the goal of enhancing their own abilities in those areas.

• Messaging and copywriting are critical skills for effective communication and sales.
• Improving these skills can enhance one's ability to convey value and persuade customers.

just recently around copywriting and vsls because I think messaging is super important and it's something that I wanted to show up within my own skill set.

This quote highlights the speaker's recent focus on improving their copywriting and video sales letter (VSL) skills, acknowledging the significance of messaging in business.

• Assessing profitability and tax efficiency is crucial after making a sale.
• Having a better legal entity strategy can contribute to overall business efficiency.

And then after that, after you've made the sale, are they making a ton of profit. Are they tax efficient? Do they have a better legal entity strategy?

The speaker emphasizes the importance of considering profit margins, tax implications, and legal structures after closing a sale to ensure long-term success.

• One can learn valuable skills from individuals who earn less, as long as humility is present.
• Pride and envy can hinder personal and professional growth.

Fundamentally, if someone makes less than me and they are better at something than I am, I will pay them to learn it, right?

The speaker expresses a willingness to learn from others who may have lower income but possess superior skills, demonstrating an openness to self-improvement.

• Focus on building wealth.
• Scale lead generation across all verticals to grow the business.
• Set ambitious goals, exemplified by Grant Cardone's "ten x" philosophy.

those are my biggest takeaways that I got from grant in our first chat was that first, I needed to focus on wealth.

The speaker shares the first key takeaway from their conversation with Grant Cardone, which is the importance of focusing on wealth creation.

• Ambitious goal-setting can shift one's approach to problem-solving and open up creativity.
• Multiplying current goals by ten can lead to innovative strategies for achieving them.

whatever your goal is for 2021 or whatever year it is that you're watching, that's coming up, that's your goal. So it's obviously more than what you're doing right now, but if that goal were ten times bigger, how then would you approach it?

The speaker encourages listeners to consider how their approach to goals would change if those goals were increased tenfold, prompting a different mindset for problem-solving.

• It's important not to judge people without personal interaction or understanding.
• Recognizing others' strengths can be a learning opportunity.

Just literally don't judge people you've never met.

This quote advises against making judgments about individuals without having met them, which can limit one's ability to learn from others' expertise.

• While starting in a niche is beneficial for skill development, eventual expansion is key.
• Earning the right to scale through operational and acquisition skills is a strategic approach to growth.

I do think you need a niche in the beginning because you need to develop the skills in a less competitive environment. But once you win your niche, then you can expand beyond it.

The speaker suggests that mastering a niche market is a precursor to expanding into broader markets, emphasizing skill development in a less competitive space before scaling.

• Simply increasing goals numerically is insufficient; a different approach is needed to achieve them.
• Thinking bigger requires reimagining methods to reach more ambitious targets.

You can't work ten times harder, right? You can't spend ten times more time working, so you actually have to solve the problem in a different way than you would otherwise.

The speaker points out that one cannot simply work harder to achieve a goal that is ten times larger; instead, a new problem-solving approach is necessary.

• The speaker reflects positively on their learning experience and encourages listeners to apply the discussed concepts.
• The importance of thinking differently about goals and the process of achieving them is reiterated.

So otherwise, hope you have an amazing day, hope you found this valuable and like subscribe all that kind of stuff and I'll see you in the next bit. Bye.

In closing, the speaker wishes the audience well and expresses hope that they found the insights valuable, while also encouraging engagement with their content.