This conversation with Shanda Sumpter changed my life.
For the first half of the episode, she teaches us how to grow a business to 10-figures (which, of course, she has done with. See HeartCore Business.)
The rest of the episode, she teaches us how to buy and sell a home using none of your own money.
It was so powerful because it was so actionable, so I had to go back and listen and write down a bunch of notes. There was so much gold I couldn't type fast enough! I would be furiously typing away while the audio played, then Shanda would say something else that I wanted to write down and I'd have to pause. It was crazy. See all my takeaways below in the form of scattered and abbreviated notes:
How to grow your business to 10-figures
- Empower the right leaders within the company to run different platforms and departments. "Who is the person I need to hire for that?" Shift to being about leadership.
- Use Indeed and write ads to the exact person you want to hire. "This is where we want to go." Share the vision. Articulate it and you will attract good people…
- Shanda's pitch: If you're addicted to your phone, a workaholic, obsessed with results, and constantly studying your craft. You forgot that you hit your goal because you already are working on the next. If that's you, keep reading. If not, stop because you will hate this job.
- Pay higher on the back end. Incentive ambitious people. You get paid every month for 12 months on one sale.
- Sales trainer paid 2% override and for every hire that stays 90 days.
- Increase the price point. Package it with how to build email list, business around it, etc. (regarding my business, Trend Up Media)
- Incentivize people to pay in full because you can invest that upfront cash in new hires and bigger reach.
- Hire a sales manager/trainer to hire and train salespeople. 8-10 sales per salesperson per month minimum. Now I focus on lead gen, marketing, fulfillment/operation
- The sales department puts pressure on the marketing department to deliver which then becomes an accountability game for me as an entrepreneur to grow my company.
- A sales director that wants to make money that grows the team to X number of people... How do I create the leads for them that are qualified? Reinvent the packages to grow this much bigger.
- Quote from Shanda: "People who are saying nobody's buying right now don't know how to take a prospect and shape them into a customer. Anyone who knows how to do that knows right now is a great time to be online."
How to generate life-changing wealth during a down economy
Pay yourself first - $X per month automatically deposited into a savings account to buy things with.
Think outside the box - Buy properties using none of your own money. Reach out to homeowners and say, "I'll take over the monthly payment and in two years I'll have this house off your hands or you can have it back." Wealth transfers.
Quote from Shanda: "People are trying to work their way to millions and that is ignorance. That is an employee mindset. You don't work yourself to millions; You leverage yourself to make millions."
Google "lease option". It's rent to own.
If you're going to rent it, you might as well rent to own it.
Promissory note - A signed document containing a written promise to pay a stated sum to a specified person or the bearer at a specified date or on demand.
Have to be making offers on a regular basis.
Quote from Shanda: "If you are comfortable, you are in a very dangerous position."
Quote from Shanda: "If you think you're just going to work for the rest of your life and you are going to make millions and every year is going to be amazing, you are sadly mistaken."
Quote from Shanda: "If you grow at the level you make money, you are making a mistake. You don't want to die with an 800 credit score. That's dumb. You want to use your credit to get access to cash to put money down on marketing campaigns that are working."
Say, "I buy homes cash. I will take over your house payment." Put signs out at busy intersections.
Call and make offers. Ask:
- How much money do you owe on it?
- How much equity is in the house?
Then...
- Tie up the home.
- Sell the home to an investor.
- Take a finder's fee on the property.
- Control the property.
- Google local investment groups.
- Bird-dogging deals.
- Bird dog fees.
You want to be so well grounded on how to create cash so you never have money be your boss. You have to master money for your life. You can't ever stop at your capacity for time or money.
Start tracking your time by the hour.
Do you start with a plan at the beginning of the day? Do you know what you are going to produce every hour? What am I going to produce this hour? Did I do it? Yes or no?
Google these:
- "What is a bird dog in real estate?"
- "How do you find real estate investors?"
- "Real estate investment groups"
Don't be afraid to do other countries. Buy in the UK because your money is worth more.
Ask real estate investment groups, "What are you educating your group on? I want to know in case I come across any deals you guys might want."
They say, "We like pre-construction real estate"
Go to developers. Say "my buyers want this deal. They want 30% discount on the property. They want this, that, the other thing. Can you create this deal?"
They create the deal.
I bring it back to the investment group and say, "Do you want this deal? My developer said he would do this."
They say yes. The deal is brokered together and I take a finder's fee on it.
Questions? Reach out to Shanda on Instagram. She'll respond.
Shanda Sumpter bio:
Shanda Sumpter is the Queen Visionary of HeartCore Business – a training company on the brink of hitting eight figures designed to give entrepreneurs the powerful systems they can use to share their gift and use those gifts to create profitable, sustainable businesses.
Today, Shanda is a dynamic speaker, trainer, and business coach, as well as a bestselling author and owner of a multi-million-dollar business and a wife and mom with plenty of time for family, self-development, hobbies, and rest. She lives in a beautiful house on the ocean, and loves her life!
It’s Shanda’s mission to give entrepreneurs the step-by-step systems they need to launch and grow their businesses – and transform their financial lives and the world.
She’s experienced her own journey from struggle to triumph: there was a time when she had only $500 to her name and was facing the prospect of moving back home to her parents’ house in Canada.
She knew then that it was time to make a change. So she hired a mentor.. and that became the catalyst for a domino effect of miracles that set the stage for HeartCore Business and its evolution into a multi-million-dollar company.
Visit Shanda at https://www.heartcorebusiness.com/.
