How To Build Wealth | Tips from Michael Del Prete

The average millionaire has 7 streams of income.

Building wealth starts with a plan.

In a recent enlightening podcast episode, Michael Del Prete, an accomplished real estate investor and the Arizona Real Estate Investors Association (AZREIA) executive director, takes listeners through his incredible transition from managing bands to building wealth. Del Prete's story is not just about the real estate market; it's a comprehensive guide on navigating life's transitions with entrepreneurial finesse and achieving success against all odds.

Listen now or keep reading below…

The Journey To Building Wealth

His journey began in Waterbury, Connecticut, with humble roots that planted the seeds for his relentless drive and determination. Michael emphasizes the importance of strategic partnerships, business coaching, and mentorship in his career evolution. From leveraging the expertise of others to harnessing resources and capital, his experience offers a roadmap for those seeking to make the leap from employment to entrepreneurship.

Insights for Wealth Building

Michael's narrative is rich with insights, particularly in understanding how seemingly unrelated early career gigs can lay the foundation for future success. The podcast delves into how personal milestones, such as marriage and the birth of his children, can significantly pivot one's professional trajectory. This pivot necessitated a search for stability but also opened doors to new opportunities, leading him to Phoenix, Arizona's dynamic real estate market.

Lessons On Scaling A Business For Building Wealth

Throughout the episode, Del Prete shares invaluable lessons on scaling a business. He discusses his role in the Arizona Real Estate Investors Association and how adapting to the shifting sands of market conditions, including the impacts of the COVID-19 pandemic, is crucial for growth. He emphasizes the significance of being in front of the right audience, which he achieved by taking the helm of an established association and leveraging its network to expand his reach.

Moreover, Michael highlights the benefits of wealth-building through real estate investment. He explains how associations like the Arizona Real Estate Investors Association (AZREIA) provide a platform where investors can access vetted business associates, from eviction attorneys to insurance companies. This community and support system are vital for navigating the complexities of property investment while focusing on strategic business growth and wealth building.

In the concluding chapter of the podcast, Del Prete encourages listeners to start their wealth-building journey, regardless of the size of their initial step. He underscores the notion that creating wealth is a marathon, not a sprint, and advises aspiring entrepreneurs to pace themselves for long-term success.

Conclusion For Building Wealth

In closing, the episode is not merely a discussion about real estate investment strategies; it is a comprehensive guide to achieving entrepreneurial success through adaptability, continuous learning, and strategic networking for building wealth. Michael Del Prete's story serves as a testament to the power of resilience and the potential to transform one's life through calculated risk-taking and a commitment to growth.

The key takeaway from this podcast is clear: whether you're looking to invest in the bustling market of Phoenix or elsewhere, the principles of entrepreneurship, wealth building, and property investment remain the same. Equip yourself with knowledge, surround yourself with the right people, like a mentor or business coach, and seize the opportunities that come your way.

With these strategies, you're well on your way to building a successful business and a wealthy empire.

The podcast episode is on Apple, Spotify, or other popular platforms.

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ARE YOU READY TO TAKE YOUR COMPANY TO THE NEXT LEVEL?

If so, schedule a call today with the premier small business coach. We’re ready to help you put in place the habits today that will unlock a lifetime of success tomorrow.

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How To Scale A Business | Tips From Andres Klaric

In the fast-paced world of technology and innovation, making the leap from a stable job to starting a tech company requires not only courage but also a deep understanding of the business landscape. Andres Klaric, the co-founder and co-CEO of Fuse, recently shared his entrepreneurial journey on my podcast, Small Business Pivots, providing a wealth of knowledge for anyone considering or currently navigating the startup ecosystem.

The discussion began with Andres’s background in automotive sales and how this experience, although seemingly unrelated to technology, was formative in his development as a business leader. The skills he honed in sales—such as handling rejection and connecting with customers from diverse backgrounds—proved invaluable as he transitioned into the tech industry. Andres’s leap into entrepreneurship wasn't simply a change in career path; it was a strategic pivot toward innovation and market disruption.

The episode delved into the intricate process of starting a business, emphasizing the importance of strategic thinking and planning. Andres highlighted the need for entrepreneurs to evolve their mindset from being a 'fox', chasing numerous opportunities, to becoming a 'hedgehog', focusing intently on one big idea. This evolution is crucial for laying a solid foundation for a business. Furthermore, Andres shared insights into the scalability of automation and how technology should augment human roles, not replace them. He addressed the critical steps of forming a corporation for liability protection and the commitment necessary to transform ideas into tangible actions.

Listen now or keep reading below…

A significant portion of the conversation centered around navigating business pivots. Andres detailed how customer demand for Fuse's loan origination technology prompted a pivot from being a loan broker to a technology provider. This strategic move underscored the importance of recognizing untapped market opportunities and the need for clear communication with stakeholders to manage transitions effectively. He discussed the challenges and rewards of such pivots, illustrating the value of being adaptable and responsive to market needs.

Another crucial topic covered was the formation and maintenance of successful business partnerships. Andres emphasized the importance of mutual respect, communication, and aligned incentives. He candidly shared the potential risks associated with starting ventures with friends or family and the benefits of a balanced business partnership that prioritizes both personal growth and enterprise value.

As the episode progressed, the role of AI in business development was examined. Andres acknowledged AI's potential while advocating for a strategic and security-conscious approach to its adoption. He reaffirmed the founder's critical role in sales and relationship-building, asserting that a founder's passion is irreplaceable in driving a business forward. For entrepreneurs facing stagnation, he advised a combination of passion and market awareness to overcome barriers and achieve success.

To wrap up the episode, the importance of continually improving business partnerships was highlighted. Regular, candid discussions with business partners were encouraged to identify areas for improvement and reinforce trust. The conversation concluded with an invitation for audience interaction and suggestions for future podcast guests and topics.

In summary, Andres Klaric's insights into starting and scaling a tech startup serve as an invaluable blueprint for entrepreneurs. His journey from automotive sales to co-founding a successful tech company illustrates the transformative power of strategic thinking, adaptability, and passion in the entrepreneurial landscape. This podcast episode is a testament to the idea that with the right approach and mindset, anyone can turn their passion into a profitable venture.

The podcast episode “Successful Business Pivots: With Fuse's Andres Klaric” is on Apple, Spotify, or other popular platforms.

👉 Don’t forget to subscribe to the show and leave a review. 👈

ARE YOU READY TO TAKE YOUR COMPANY TO THE NEXT LEVEL?

If so, schedule a call today with the premier small business coach. We’re ready to help you put in place the habits today that will unlock a lifetime of success tomorrow.

Small Business Growth | Tips from Erica Rankin

In the dynamic landscape of entrepreneurship, every success story includes challenges, learnings, and unwavering determination. In a recent episode of the Small Business Pivots podcast, entrepreneur Erica Rankin, the innovative founder, and CEO of Bro Dough, a Canadian edible cookie dough company, shared her inspiring entrepreneurial journey. Despite the hurdles and setbacks, Erica's narrative illuminates essential lessons for aspiring business owners, offering a beacon of guidance amidst the complexities of building a small business empire.

Leading by Example 

Erica's words echoed the importance of leadership grounded in personal example. By embodying the values and work ethic expected from the team, entrepreneurs cultivate a positive and productive work culture. Setting high standards, she stressed, is not just a managerial choice but a cornerstone of effective leadership.

““One of the biggest things I’ve learned growing my business is having non-negotiables. Taking care of your mental well-being, and physical are huge things for me!””

— Erica Rankin

Vision and Sacrifice

Erica's entrepreneurial journey underscored the significance of a crystal-clear vision. Entrepreneurs must meticulously assess every decision's alignment with their long-term goals. Additionally, she emphasized the willingness to make sacrifices that others might not comprehend. Entrepreneurship, she noted, often demands unconventional choices, necessitating a steadfast commitment to the greater vision.

Continuous Learning

Education, Erica asserted, is not confined to classrooms. Entrepreneurs must be perpetual learners, adapting to new insights, technologies, and market trends. She recommended the book "E-Myth Revisited" by Michael Gerber as a valuable resource. Erica encapsulated her belief in the phrase, "Lessons are caught, not taught," highlighting the experiential nature of entrepreneurial learning. Being receptive to lessons derived from real-life experiences equips entrepreneurs with a multifaceted understanding of the business realm.

Persistence and Focus

In a world where instant gratification often overshadows long-term goals, Erica's mentor's advice resonated deeply: "Outlast temporary." This wisdom encapsulates the ethos of unwavering determination. Entrepreneurs must resist transient temptations that divert them from their enduring vision. Persistence, she emphasized, is the bedrock upon which successful ventures are built.

A Roadmap to Success for Aspiring Business Owners

With strategic planning, adaptive learning, persistent focus, and a willingness to embrace growth, entrepreneurs can navigate the path of business ownership. Erica's story serves not merely as inspiration but as a practical roadmap, illustrating that with tenacity, resilience, and an never-give-up spirit, anyone can transform their passion into a flourishing business venture. Aspiring entrepreneurs, take heed; the journey might be challenging, but as Erica's story illuminates, the destination is worth every penny.

The podcast episode “Bro Dough: Unleashing the Sweet Success Of An Edible Cookie Dough Empire With Erica Rankin” is on Apple, Spotify, or other popular platforms.

👉 Don’t forget to subscribe to the show and leave a review. 👈

ARE YOU READY TO TAKE YOUR COMPANY TO THE NEXT LEVEL?

If so, schedule a call today with the premier small business coach. We’re ready to help you put in place the habits today that will unlock a lifetime of success tomorrow.