Posts by Daray Olaleye

BTM 68: The Art Of Deal Making With Ex-FBI Hostage Negotiator Chris Voss

Chris Voss is the CEO & Founder of the Black Swan Group Ltd and author of Never Split The Difference: Negotiating As If Your Life Depended On It. He has used his many years of experience in international crisis and high-stakes negotiations to develop a unique program and team that applies these globally proven techniques to the business world.

 

Prior to 2008, Chris was the lead international kidnapping negotiator for the Federal Bureau of Investigation, as well as the FBI’s hostage negotiation representative for the National Security Council’s Hostage Working Group. During Chris’s 24 year tenure in the Bureau, he was trained in the art of negotiation by not only the FBI but Scotland Yard and Harvard Law School. He is also a recipient of the Attorney General’s Award for Excellence in Law Enforcement and the FBI Agents Association Award for Distinguished and Exemplary Service.

 

Chris has taught business negotiation in the MBA program as an adjunct professor at University of Southern California’s Marshall School of Business and at Georgetown University’s McDonough School of Business. He has taught business negotiation at Harvard University, guest lectured at The Kellogg School of Management at Northwestern University, The IMD Business School in Lausanne, Switzerland and The Goethe School of Business in Frankfurt, Germany.

 

On today’s episode, we talk to Chris Voss about his journey and what inspired him to get into entrepreneurship. Growing up, Chris would always find different ways to make money from selling Christmas cards, cold drinks in front of the house, and more. He shares with us how watching “The Super Cops” movie inspired him to pursue a career in law enforcement. You’ll hear stories from when Chris was a FBI hostage negotiator and lessons learned you can use in when negotiating in business and life.

 

Chris also shares with us one of his favorite negotiation deals and what he learned from that experience that any aspiring entrepreneur can use to take their deals. Lastly, we wrap up the episode with some great action steps you can do today to become a better negotiator. Chris shares a neuroscience fact about having gratitude and a positive frame of mind can help you become smarter when making decisions in business and life.

 

Key Points From This Episode:

  • Chris takes us back to his early days and how he learn the value of working hard and figuring things out from watching his father in business
  • How Chris began his career in law enforcement and how an injury in martial arts ended up being one of the best things that ever happened to Chris’ career
  • Chris’ experience of working 5 months in a suicide hotline opened to door for him to start his career in hostage negotiation
  • The differences between terrorist/hostage vs. business negotiation  
  • Chris’ story of a 8-million deal and how you can leverage emotional intelligence when negotiating deals
  • The importance of diffusing negatives people have by observation (Did you know? 70% deals are made not to accomplish gains but to avoid losses which is effectively to solve problems)
  • How talking about “the elephant in the room” can help you build rapport and trust immediately (The story of Chris’ experience with middle eastern muslim hostages and witnesses)
  • How you can build better relationships with people if you show them that you understand who they are and what their fears and needs are
  • Examples of hostages experiences a 10 million random deal (being opening to coaching was key to success and  The birth of “that’s right” movement (when you summarize something from their perspective not from a neutral or your perspective and get the person to say that’s right)
  • Key Things To Practice When Negotiation (set the intention by putting the person’s best interest first → building rapport by being relatable → uncover the person’s problem and the costs of staying in this problem → decide if you can offer a solution or provide an alternative option for the person or outcome
  • Chris’ transition to hostage negotiation to helping other business professionals win at making deals
  • Why every negotiation is an opportunity and it’s up to you to learn how to leverage this moment in time
  • What is the objective of a negotiation: You need to focus on information gathering (find the best deal possible)  and relationship building (building rapport with the person)
  • What to pay attention to when negotiating with someone (gestures, movement, voice, etc.) and how you need to approach them to get the results you want

 

Links Mentioned in Today’s Episode

Chris’ Website: https://blackswanltd.com/

Chris’ Book: Never Split The Difference

TED Talk: The science of happiness

Chris’ Favorite Book: Barking Up the Wrong Tree

Chris’ Favorite Lifestyle Design App: Instagram- A simple, fun & creative way to capture, edit & share photos, videos & messages with friends & family. https://www.instagram.com/

 

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BTM 67: Free Up Your Time: Automate & Scale Using Remote Workers with Nathan Hirsch

Nathan Hirsch is a serial entrepreneur, expert in remote hiring and eCommerce guru. Selling online since 2010, Nate has sold well over $25 million worth of product through his eCommerce business. He is now the co-founder and CEO of FreeeUp.com, the hands-on hiring marketplace connecting hundreds of online business owners with pre-vetted remote workers.

 

After building a team of over 30 remote workers, Nathan found he needed a system to make remote-worker hiring better and scalable. His business specializes in assisting eCommerce and digital marketing businesses remove the hassle of having to recruit and interview before making a reliable hire. Less time recruiting & interviewing means more time making money. Nathan understands the frustration: he and his business partner faced the same struggles with hiring online and wanted to redefine the way it was done.

 

Nathan got a taste of the transition path that most people take (get good grades, go to university and get a nice paying job, etc.). During the summers as a high school kid, Nathan realized working for other people just didn’t motivate him so he learned at a very young age that if he wanted to be happy he had to work for himself.

 

He got a glimpse into the future and realized something had to change if he didn’t figure out an alternative path. Nathan majored in Business and started buying and selling textbooks to make extra money on the side.

 

After successfully selling books from his college campus, Nathan discovered Amazon and become addicted to learning more about this website. Nathan built up this large drop shipping business and multi-million business from his college dorm room and he knew he had to hire people to keep up with the demand.

 

Nathan learned that hiring is hard to find the right people that actually care about your business. From hiring that’s how he found out about the remote hiring world and wanted a faster way of doing it.

 

On today’s episode, we talk to Nathan about his journey from being a broke college kid to starting two successful companies. You’ll learn why you shouldn’t wait until you’re burnt out to start hiring and the pros and cons of hiring employees to your team vs. freelancers.

 

Nathan shares his advice on what you should outsource first in your business to take your growth to the next level. We also discuss the importance of focusing not only on skill but also attitude and communication when growing your team. Lastly, Nate explains how freedom is the the most valuable benefit of being his own boss and steps you can take today to build your empire.

 

Key Points From This Episode:

  • How to find pre-vetted freelancers and why it is important to start hiring out for certain tasks
  • The story of what Nathan was doing back in college and what his mindset like and how he began to formulate his entrepreneurial path
  • How Nathan went from being a broke college kid to starting two successful companies
  • The only way to be truly successful in life is to be an entrepreneur (what impact it had on Nathan)
  • What brought Nathan to the realization that he had to delegate tasks to start focus on revenue producing activities (how 1 conversation with his accountant changed his mindset about hiring)
  • How to set a timeline when you should starting hiring people to help you run your business
  • Why you should hire people slowly so that you can get some your time back (short term projects such us getting a website built, creating banner ads, etc.)
  • Suggestions for entrepreneurs who have a successful business on how to free up their time and start hiring these tasks out (what techniques you can use to start freeing up your time if you have a business that has taken off overnight and you don’t know where you’re going to find the time to starting hiring)
  • Nathan shares how you can come up with a list of everything you do on a day-to-day basis (be specific as possible). Put the list from easiest to hardest (circle the top easiest things) and that’s your starting point. If you want to go bigger and challenge yourself, come up with a 2nd list of things you’re not good at and what projects does your business need to get to the next level that’s on that list that you can’t do (these become your immediate projects in the next 3-6 months to hire someone to do this for you)
  • How has his business helped Nathan live out his personal goals  and dream his has for his life
  • The story of Nathan’s greatest mistake when starting his dropshipping business in college and lessons learned from that experience
  • Pros and cons of hiring employees to your team vs. freelancers
  • Recommendations on what you should outsource first in your business
  • The importance of hiring low-level people that can take things off your plate. If you have projects where you have projects your business needs, then hire specialist and expert people who can consult you and give you advice
  • Why you must focus not only on skill but also attitude and communication (what’s your method of picking the best freelancer to bring onto your team if you have two candidates that you like and you’re looking for a personality match)

 

Links Mentioned in Today’s Episode

Nathan’s Website: https://freeeup.com/

Nathan’s Favorite Book: Start with Why

Nathan’s Favorite Lifestyle Design App: Yet Another Mail Merge: Simply list all recipients’ email addresses in a spreadsheet and write your email template as a draft in Gmail. In one click, all emails are automatically sent to your recipients. Save time and be more efficient in sending mass emails. 

 

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BTM 66: Successfully Unemployed: Lifestyle Design Through Rental Properties with Dustin Heiner

Dustin Heiner is a real estate investor with 24 single family properties and blogger from California. Dustin is the founder and host of Master Passive Income, a Blog and Podcast about investing in real estate rental properties. In 2004, Dustin realized he would never be wealthy working for someone else, so he needed to change something.

 

He decided to work hard toward quitting his job and being his own boss. After reading Rich Dad, Poor Dad Dustin knew he needed to become an investor. So he started investing in real estate and start earning cash flow in 2006. (Yep, just before the crash in 2009) He took a weekend course from a real estate guru that cost $1,000 and that started him down the path of rental properties. From that $1,000, Dustin has grown his investment income to $8,500 per month. It only took him 8 years to do it. In 2016, Dustin quit his job working for the local government. He will literally NEVER have to work for someone else ever again.

 

On today’s episode, we talk to Dustin about all things passive income. Dustin shares with us several stories about his childhood growing up with a family who was involved with real estate and building homes. He developed a passion for homes and entrepreneurship. Real estate was the one thing that really worked for Dustin after attempting several other business opportunities.

 

Within 6 years of investing, Dustin had all of his income replaced by his income producing properties and could quit his day job. You’ll learn the importance of hiring a mentor to help you along the investing journey to avoid common pitfalls and mistakes. Lastly, Dustin shares with us his suggestions for first-time investors who would like to get started with little to no money down on a rental properties.

 

Key Points From This Episode:

  • The story on how Dustin started his entrepreneurial path as a teen delivering newspapers
  • Lessons learned from Dustin’s retail business that he applied directly to his real estate investing business
  • Importance of hiring and finding the right people when investing in rental properties
  • How Dustin utilizes online resources (monthly payments, maintenance requests, property management, etc.) to manage the real estate business from around the world
  • Why hiring the right mentor can help you avoid critical mistakes and teach you ways to save time and money while working towards financial freedom
  • What separates the people who find success with a mentor when investing vs. those who do not
  • The 3 key traits you need to take advantage of real estate opportunities
  • How getting rid of the “business” helped Dustin focused on the things that are important and took his real estate business to the next level
  • Why sticking to one main objective until you master it or its running itself is key to success
  • What Dustin’s lifestyle design looks like today (family time, working on his podcast, traveling, and more)
  • The concept of “buying with no money down” and lessons learned from not having the right property manager when starting to buy rental properties
  • Suggestions for first-time investors (using a FHA loan, buying a duplex or single family home)

 

Links Mentioned in Today’s Episode

Dustin’s Website: http://www.masterpassiveincome.com/

Dustin’s Podcast: http://www.masterpassiveincome.com/podcast/

Dustin’s Favorite Book: Richest Man In Babylon

Dustin’s Favorite Lifestyle Design App:

Evernote is the app that keeps your notes organized. Memos are synced so they’re accessible anywhere, and searchable so you always find what you need. https://evernote.com/

Google Docs brings your documents to life with smart editing and styling tools to help you easily format text and paragraphs. https://www.google.com/docs/about/

 

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BTM 65: LinkedIn Ads: What Real Estate Investors Need To Know with AJ Wilcox

AJ Wilcox is a long-time digital marketer who fell in love with the LinkedIn Ads platform in 2011. He founded B2Linked.com in 2014, which specializes in LinkedIn Ads account management, training, and consulting. Since then, he has managed hundreds of accounts and a combined $100 million in ad spend on the network. He has worked directly with several of LinkedIn’s top 10 accounts.

 

AJ’s entrepreneurial journey is deeply rooted in his faith. After he was fired from his last job, he was offered multiple job opportunities. He prayed to God to figure out what he should do and the answer was to turn them all down and start his own business — and he’s never looking back!

 

On today’s episode we talk to AJ all things LinkedIN. AJ shares with us how to promote your real estate investing business, tips on growing your thought leadership platform and more. You’ll learn how to utilize LinkedIn as real estate investor and entrepreneur.

 

We discuss what first steps you need to take on advertising on LinkedIn (how to get started and what to consider). We also dive into who AJ was before LinkedIn (college experience, mindset growing up, entrepreneurship journey).

 

AJ shares his story of how he got introduced into LinkedIn and how he grew investing into becoming the largest LinkedIn customer in the world (by amount spent, size of the account of campaigned they were using. Lastly, we wrap up the episode with some some action steps you can take today to start advertising and building a name for yourself on LinkedIn.

 

Key Points From This Episode:

  • How that apparent failure set up AJ of success
  • How AJ knew that entrepreneurship was the right path for him
  • AJ considers himself an accidental entrepreneur if he didn’t have divine help getting into it
  • What was the best investment AJ has ever made in himself and business
  • Bad recommendations from other LinkedIn experts and that’s not effective or
  • Tips and advice to entrepreneurs looking to use LinkedIn as a resource of hiring people
  • Break down of AMO (audience, message and offer)
  • How to position yourself as a thought leader on LinkedIn
  • What is the most effective way to get clicks for your offers (text, picture, video, mini-blog, etc.)
  • Why LinkedIn is the easiest network to go viral on
  • Differences of organic reach and advertising on Facebook vs. LinkedIn
  • Examples of posts you can create to get more reach and shares online
  • What questions to ask yourself when feeling unfocused
  • Importance of knowing that people want to do business with people not companies
  • The # 1 tip you can do today if you have a company and personal presence on LinkedIn to maximize exposure

 

Links Mentioned in Today’s Episode

AJ’s Website: B2Linked

Free checklist: 8 Things You Need In Order To Launch Ads on LinkedIn

AJ’s Favorite Books: DRIVE by Daniel Pink

Recommended Podcasts:

The LinkedIn Formed

Social Media Examiner Podcast

The Bad Crypto Podcast

Art of Charm Podcast

AJ’s Favorite Lifestyle Design App: Calendly: Say goodbye to phone and email tag for finding the perfect meeting time. https://calendly.com/

 

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BTM 64: Bigger & Faster Using Commercial Apartment Buildings with Chad Doty

Chad Doty has 12 years of experience as a multifamily investor, but he wasn’t born with real estate in his blood. Originally, Chad was a management consultant for Arthur Andersen. Watching that company meltdown prior to him making partner made him realize that letting outside circumstances control his life wasn’t for him.

 

So Chad then founded his own consulting company, only to realize he was simply trading time for money. Determined to control his own destiny, Chad decided to leverage commercial multifamily real estate to develop recurring, passive income. He formed 37th Parallel Properties, a private real estate acquisitions and asset management rm.

As the CEO of 37th Parallel Properties, Chad specializes in syndicating multifamily investments. His offerings allow investors access and opportunities to generate stable streams of tax-advantaged passive income and equity growth without needing to manage the property themselves.

 

Through this approach, Chad helps investors get access to tax-advantaged apartment investments that can produce income and equity growth that have historically retained their value through economic downturns and nationally cycles. Chad is a proven multifamily veteran with over 12 years of investing experience, another 10 years of management consulting experience, and $325 million dollars in real estate transactions.

 

On today’s episode, we talk with Chad about his story of growing up with his family and how working with his father taught him the importance of work ethic at an early age. Chad’s father gave him the book Think & Grow Rich at the age of 18 and Chad started to listening to inspiring and motivational speakers including Les Brown. Chad knew he wasn’t an entrepreneur but he did have a desire to learn and improve his life for himself and his family.

 

Chad talks about how he had a burning desire for more freedom and control after working in corporate after college. You’ll learn what inspired Chad to get into real estate and the purpose behind choosing multifamily as a the primary asset class for his investing.

 

We also talk about advice for any professionals who are currently investing in their 401K and what might be a good mix for investing to achieve financial freedom for you and your family. Chad shares with us the number # 1 reason his primary focus is multifamily (earning twice the money with half the time).

 

We breakdown the the biggest difference between investing in residential vs. commercial real estate properties and how Chad’s biggest failure set up him up for success. Lastly, we wrap up the episode discussing the benefits of investing in multifamily apartment buildings and how to handle downturns in the real estate investment market.

 

Key Points From This Episode:

  • The story about Chad’s wife telling him she was pregnant with their son switched his mindset to focus on gaining more time, freedom, money, control and be there for his son
  • Chad shares he didn’t grow up in real estate but rather picked it as a business analyst. He found that it had the best features that he wanted to build a wealth and get scale from people and time. After doing further research on real estate investing, he decided that multifamily was best real estate asset class.
  • Amazing advice for any professionals who are currently investing in their 401K and how they should go about investing
  • How you can decide what is a good mix when starting out in investing or should you focus on what investments are given to you as a default
  • Chad shares how his failures as an entrepreneur later set him up for success
  • The differences between residential vs. commercial real estate investing (trends, markets, etc.)
  • The # 2 life-changing things Chad implemented to improved his business (the theory of constraint and shifting your business to scale from how and what vs. why and who
  • Breakdown of types of residential properties (under 4 units) vs. commercial real estate (5 units +)
  • The main benefits of going big (purchasing multi family vs. single family/triplex/duplex)
  • At one point Chad had 100 cash flowing homes there was a market ()
  • The #1 myth in real estate about finding and financing a good deal (tip: money flows to people who know what they’re doing)
  • The lending environment with smaller real estate deals vs. multi family/commercial
  • Daray and Chad share their best advice on how to handle a downturns when investing
  • What classes of real estate Chad looks for and why (class A, B, C, etc.)

 

Links Mentioned in Today’s Episode

Chad’s Website: https://37parallel.com/

Recommended Books/Websites:

Think & Grow Rich

The Goal by Eliyahu Goldratt

Dan Sullivan: Strategic Coach

Chad’s Favorite Books:

The One Thing by Gary Keller

 

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