- Grant Cardone Featured Contributor.
Would you like to go for a ride with a super successful entrepreneur? Have you dreamed about sharing a cab—or nowadays getting an Uber—and finding yourself next to a Gary Vaynerchuk or a Warren Buffett? One of the shows I feature on GrantCardoneTV is raw and uncut where I take you right into the front seat of my daily life. You can ride along with me and my entrepreneurial guests as we explore Miami Beach. I manage to get each guest to confess about something personal from their past—unplanned and unedited. It’s called Confessions of an Entrepreneur, and it’s not for the feint of heart! Here are some of those who’ve stepped inside my car:
Shark Tank’s Kevin Harrington—Founder of As Seen On TV—he took a ride with me and talked about his biggest business regrets. He said he needs two losers to get a winner. A successful guy like Kevin makes a lot of mistakes, but the fact is, to get big takes risk. One of the things he talked about with me was that he assumed if he got sales and profits, everything would automatically happen. It doesn’t—you have to go and get the money no matter how much money your business is already making.
Kevin shared the fact that many times while he was profitable, he had no cash. Cash flow is the holy grail of business. You have to have capital to finance things. He had $100 million a year in sales and did $8 million in profit—but still had no cash because it was all tied up in inventory and other reinvestments into the business. I’ve said it before and I’ll say it again, cash is king. You need revenue coming in and lots of it.
Internet Marketer Frank Kern—What is the truth behind Frank Kern? Does he really surf all day out there in La Jolla? He confessed to me that he’s not good at selling people in person—he sells from a distance. Frank builds systems online that turn advertising into profit. I was reminded by Frank that when people start building their marketing list, they then neglect their list. Don’t be afraid to hit the list! I send emails out all of the time. If someone opts out, they weren’t going to buy something from me anyway.
LightSpeed VT founder Brad Lea—This guy reinvented the way training, learning, and communication is delivered, tracked, and measured. He really revolutionized web-based learning. Brad talked to me about going from having a job with nothing leftover after each month to having a company generating over $20 million dollars. Along the way his biggest mistakes included taking way too long to get there and cruising along rather than going 100 mph.
As we drove the streets of Miami, Brad revealed that procrastination is one of his biggest regrets. We discussed how we shouldn’t be reasonable and how we should quit trying to have “balance”. One thing Brad and I have in common is that we won’t delay firing people who should be fired. Hold people accountable—yourself included! Also, don’t ever quit. Knock on a door long enough and it will fall down.
CEO of Chargebacks911 Gary Cardone—This guy happens to be my twin brother. There are serial entrepreneurs and then there are lifer entrepreneurs. Gary is a lifer. He started out selling bananas for 18 months and learned from that experience that he could sell anything. We discussed his $150 million-dollar mistake and he also confessed he takes too much time to get things done. Other confessions included underestimating his own ability and not paying attention to his own environment. Gary reminded me that if you are a home-run hitter, why try to bunt? Don’t try and be something you aren’t. Be willing to fail.
You can subscribe to Confessions of an Entreprenuer on iTunes or go to GrantCardoneTV and subscribe. I want to teach you how to get rich and help you as an entrepreneur—because everyone in this day and age needs to boost their finances. One day, I want to interview you and talk about what made you rich but also have you confess to me your regrets along the way. Nobody is perfect so if you need some help, get yourself on Cardone University today.
Speaking of entrepreneurs, don’t miss out on the best conference of 2017. 10X GrowthCon is being held in Miami this March 17-19. Kevin Harrington, Brad Lea, and Frank Kern will all be there. Author Lewis Howes, CEO Andy Frisella, Kobe Bryant’s trainer Tim Grover, and motivational speaker Les Brown will be there as well. I’ll be doing live Q & A’s with these guys so there will be more confessions to come. Are you in?
Opinions expressed here by Contributors are their own.