Episode 98 - An Interview with Ari Rastegar

Show Notes:

• [0:03] Introduction with Kent Clothier.
• [0:25] Ari Rastegar's background: overcoming adversity, family history, and educational journey.
• [1:50] The significance of environment and the drive to succeed amidst challenges.
• [2:23] Discussing the importance of communication and studying successful traits.
• [4:29] Insight into the educational paths of wealthy families and Ari's own learning journey.
• [5:19] Ari’s mentorship experiences and the value of personal growth.
• [7:24] The philosophy of 'making friends, not sales' in business.
• [9:11] Market dynamics, wealth creation opportunities, and economic downturns.
• [10:43] The concept of momentum in business and personal growth.
• [11:53] Real estate insights and the importance of building relationships for wealth creation.
• [17:13] Ari's path into real estate, guided by mentors and market understanding.
• [18:45] Strategies for raising private capital and understanding the capital stack.
• [19:18] Personal anecdotes of building relationships and networking.
• [22:04] The evolution of Rastegar's business and investment strategies.
• [23:18] Discussing the role of zoning and entitlements in real estate.
• [24:57] The significance of human connection in real estate.
• [26:41] Ari's approach to health and wellness as a key to success.
• [32:06] The importance of authenticity and relationship-building.
• [34:27] Ari's strategies for maintaining health and energy.
• [40:22] Deep dive into health optimization and its impact on personal and professional life.
• [48:04] Various health practices and their benefits.
• [51:56] The interconnection of health, energy, and success.
• [53:27] Final thoughts on dedication, intentionality, and the power of authenticity.
• [56:33] Closing remarks and information about Ari Rastegar's book, "The Gift of Failure."

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Key Points Discussed:

Marshall's NFL Journey:

• Shared his unique transition from the Indianapolis Colts to the St. Louis Rams and his decision-making process behind these career-altering moves.
• Highlighted the discipline, commitment, and consistency required to excel in professional football and how these skills translate into other areas of life.

Transitioning from Sports to Business:

• Emphasized the challenges athletes face when retiring from sports, focusing on identity reformation and new beginnings.
• Discussed the importance of financial literacy and making informed decisions, especially for individuals coming into sudden wealth.

Financial Literacy and Empowerment:

• Advocated for understanding investment vehicles, tax strategies, and asset protection to secure and grow wealth effectively.
• Shared personal anecdotes and professional experiences to illustrate the importance of being financially informed and proactive.

Advice for Aspiring Professionals and Entrepreneurs:

• Marshall stressed the importance of understanding the impact of one's decisions, whether in sports, business, or personal finance.
• Encouraged listeners to seek knowledge, understand the intricacies of their financial dealings, and not shy away from learning from mistakes.

Show Notes:

0:00 - Introduction: Host Kent Clothier welcomes listeners and introduces Dan Martell, a figure of resilience and success in the entrepreneurial world.

3:20 - Dan's Personal Journey: Martell shares his transformative journey from a troubled youth to becoming a successful entrepreneur, highlighting the pivotal moments and individuals who influenced his path.

12:45 - Navigating Uncertainty: Dan discusses his approach to decision-making in uncertain situations and how embracing uncertainty has been a key factor in his success.

18:30 - The Concept of the "Buyback Loop": Martell introduces his strategy for entrepreneurs to increase the value of their time, focusing on activities that fuel energy and progress.

27:10 - Redefining Success: Dan redefines success as a journey of becoming the person you needed during your darkest days and sharing that journey to inspire others.

34:00 - A Decade of Dedication: Martell emphasizes the importance of dedicating a decade to your dreams, sharing insights on how consistent effort over time can lead to remarkable achievements.

41:50 - Future Ventures and Inspirations: Dan talks about his upcoming projects, including a dedicated YouTube channel for entrepreneurial content and a state-of-the-art studio.

49:30 - Leveraging Social Media for Growth: The importance of choosing the right mentors and resources in the digital age, and how platforms like Instagram can be a tool for learning and connection.

58:15 - Closing Remarks: Kent summarizes the key takeaways from the conversation and thanks Dan for his valuable insights.

Special Offer Mentioned in the Episode:

- Mention Kent Clothier's name to Dan Martell on Instagram to receive a complimentary 47-page SOP for executive assistants.

Selling a Business

[2:27]

A business might experience a wide range of events. Thus, the first reason to sell a business is to protect against the unknown.

[5:16]

If you're holding on to your business for your kids, they don’t want it. According to research, just 2% of businesses effectively transition from one generation to the next because the children don't want it, aren't qualified for it, or don't know how.

Private Equity Company

[10:04]

The environment of acquisitions goes from the least appealing company, which has the most risk, is an owner-operated company.

[11:17]

When you work in private equity, businesses across all industries with revenues above $10 million and profits over $2 million are usually acquired for 15.4 times profits. Simply increasing the company's profitability and sales will enable it to attract customers of a different class.

[16:37]

They also frequently employ another tactic known as a roll-up. A roll-up means that we'll buy a ton of businesses, some of which may be competitors and others which may not. Seven different categories make up the acquisitions.

Importance Of Having A Mentor Or a Coach

[21:28]

People that attempt to accomplish this on their own will probably receive a reasonable offer. However, you can double the worth of the offer if you are familiar with the procedure. When you've never sold a company before, for instance, negotiating a deal with a private equity firm that has a staff that specializes in negotiations is like entering a gunfight with a knife.

[24:19]

People need to think about the process they could go through to fully optimize the value of their company.

[27:32]

Exiting without proper guidance, especially dealing with a tax liability, can cost you so much. For example, If you have a tax that costs 30 percent, and you exited with $100 million, you are going to pay a whopping $30 million.

[32:31]

Many people are unaware that most companies, particularly private equity firms, just desire one thing from a company. However, there may be valuable assets in the company that are valuable on an ongoing basis or have independent value over the income from this particular object that the company has to sell.

[40:17]

If you don't know what you're doing, get the expert. Don't let your ego get in the way of getting a full value.

Now Is The Time To Make an Acquisition

[42:06]

Because everything is on sale, now is the best time to consider acquiring. When people are uncertain, the multiples will be most advantageous to you. But don't feel predatory because you're supporting them in getting what they want.

[45:33]

There are two ways to approach a company or a competitor: direct and indirect. But the best approach will be direct.

[51:19]

To determine which company to acquire, remember that the market influences multiples in terms of what is popular. So you'll see that some items become popular and others fall out of favor.

Psychology of Human Beings

[1:01:36]

At the end of the day, a human being is a human being. There's always a human being behind the decisions. And the psychology of human beings is wild, whether it’s their ego or pride.

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You can follow Roland on his socials:

Facebook | Instagram | Linkedin | Twitter

Tommy’s Background

[2:32]

Tommy is the president of Prime Corporate Services. They've been in business for 10 years and has helped over 100,000 entrepreneurs structure their business.

[3:51]

They concentrate on entity structuring issues like asset protection, tax minimization from a structure perspective, business credit development, creating a separate credit profile for your business, tax preparation, tax filing, and general estate planning.

Avoiding Probate

[6:21]

People frequently claim a will in place, which is fantastic but expensive and time-consuming. And in most states, avoiding that probate is done by having a living trust.

[9:03]

Do a Google search on how to avoid probate in the state where you live or own property, regardless of where you are. Whatever the scale, it all depends on how the state will intervene. If the documentation needs to be set up, it could usually result in fortunes and real estate.

Benefits of Privacy

[14:05]

Privacy protects yourself and your loved ones because you don’t want people to know where your home is.

Numbers of Property in One LLC

[20:11]

There is no one right answer, but you can try to weigh your risk tolerance. If you have 100 doors, you care a lot less about one door than if you have five doors. Find out what your assets and liabilities are. You can choose the appropriate number of doors per LLC once you understand what that looks like.

Make Meaningful Moves

[25:55]

To move fast and make decisions quickly and accurately, when on the call, help them understand where you are currently. Inform them of your new status if applicable. If you have a lot of different entities, let them know who each entity is owned by and what you use it for on a daily, monthly, or annual basis so they can advise you on what needs to be changed, eliminated, or completely restructured.

Tax Strategy

[30:55]

Investing in a tax strategy is a huge component of building more wealth. It is not a cost but a strategic and logical investment in protecting wealth. The single biggest wealth extraction event in your life over and over will be taxed. And getting ahead of this in a meaningful way is so powerful.

[36:43]

Most people need to take advantage of all the available opportunities to strategically buy real estate, insurance policies, and other things to avoid paying taxes.

[46:16]

The typical business owner squanders about $9,000 annually. As you produce more wealth, that number increases so quickly. Thus, you will succeed if you have a team to assist you or educate yourself about investments that will benefit you from a tax perspective.

_______________________________________________________
Follow Kent on Socials!

Instagram: http://www.instagram.com/kentclothier

Tik Tok: http://www.TokTok.com/@KentClothier

_______________________________________________________

Go to https://www.primecorporateservices.com/ to start creating a tax strategy to protect your wealth and future.

You can also follow Tommy and Prime Corporate Services on their socials:

Facebook | Instagram

Entrepreneurs are Visionaries

[10:50]

Trevor believes that often, entrepreneurs are the visionaries or quickstarts—once they go into operation mode, they get bored. He doesn’t want that to happen to his company, and thus, he ensures to innovate to make the business exciting for him again.

[11:22]

Trevor shares a great story about his client scaling his business from zero to millions.

Delegating Duties

[13:00]

When you earn millions, Trevor explained that you need to have a delegating strategy on things you don’t want to be actively doing. He further explained that things get harder on this part where, without someone to delegate the task, and you do it hands-on, you get distracted and burn out.

Entrepreneur Freedom Formula

[16:04]

Trevor explained the entrepreneur freedom formula and how it is the core model of his company. The entrepreneur freedom formula centers around building a business of freedom and impact. He argued that being a lifestyle business is not bad for a period of time, and it’s all about what you have in the plan after it. That’s where the entrepreneur freedom formula kicks in.

[18:17]

Hustling and grinding is not long-term business strategy. Trevor explained that people should always remember it because “gears grinding for a period of time whittle and break down.” He further elaborated that even if you start earning good money and you enjoy them, it’s still incomplete without the true purpose of why you are doing it in the first place.

Vision Story

[24:37]

Trevor shared his Vision Story and why it matters. His vision story highlighted the importance of having to look so far ahead. Looking 20 years ahead is excellent for him to answer questions like, “What is my role? Am I still in business? What am I doing at that point?”

[31:14]

Trevor explains that entrepreneurs frequently run away from the businesses they grew. Either because they don’t like it, they hit the income ceiling, or they believe they are incapable of achieving something big. However, when you obtain consistent profit, you start running towards something new.

[32:14]

The bigger your goals, the longer the runway that vision needs to be. You lose the runway when you start losing that motivation and energy to move forward. That’s where the entrepreneur freedom formula comes in. What do you need to delegate to buy back your time to get more energy?

[33:45]

Figure out what gives you that purpose and build a consistently profitable business based on a good marketing strategy. Build that team, buy back your time, and start embedding the purpose of your business. Through it, you’ll lengthen the runway every three to five years.

Conclusion

[36:40]

Trevor explained the benefits of joining a mastermind. You have access and the privilege to talk to someone who’s three-step ahead and behind you. You’ll have a bird’s eye view of where you are currently as an entrepreneur. Talk to people who bought their time back through the entrepreneur freedom formula and see how you can employ it in your business to move a step forward to success.

Links:

Kent Clothier

Instagram: http://www.Instagram.com/kentclothier

Tik Tok: http://www.TikTok.com/@kentclothier

Join The boardroom Mastermind: http://www.Theboardroommastermind.com

Trevor Much

LinkedIn: https://www.linkedin.com/company/getcarrot/

  https://www.linkedin.com/in/trevormauch/

Website: https://www.trevormauch.com/

  https://carrot.com/

Twitter: https://twitter.com/tmauch

Facebook: https://www.facebook.com/thetrevormauch

Instagram: https://www.instagram.com/trevor.mauch/

Eddie Speed: Seller finance note ninja

Eddie Speed is a straight shooter, so we'll spare you the flowery pitch. Eddie is a Texas titan who for years has carefully crafted the art of strategic seller finance notes. In short, understanding and correctly executing the strategies he shares will double your opportunities, double your business, and ultimately, double your income. If you are an experienced deal maker, saddle up and hit the trail with us as we discuss riding the coming bull market all the way to a generational wealth kind of payday. 

Vinnie Fisher: CEO. Lawyer. Husband. Dad. 

Fun fact: 70% of Billionaires have created their wealth from recession rebounds. That fact, coupled with the whole "history repeats itself" fact, is a good indicator that a whole bunch of money is about to make its way into the hands of those seeking current opportunities...and you can bet your bottom dollar that Vinnie Fisher isn't going to miss out on any of it. As a tax lawyer, entrepreneur and all around numbers guy, Vinnie shares his journey of becoming financially fluent in his own businesses and details what specifically you should be able to answer about your company's financials. The time to get your sheet together is now, before you get your assets kicked. 

Trevor Mauch: CEO of Carrot

Falling asleep behind the wheel and nearly sending your family hurling off the side of a cliff... No, that's not a scene from a Hollywood blockbuster, that was the real life wake-up call for our next guest, Trevor Mauch. Long, exhaustive hours come with the territory of being an entrepreneur, but at a certain point, you have to ask; is your business supporting you or are you supporting it? Are you building a LIFE for you and your loved ones, or just an income? Kent and Trevor strap in for an "energy audit" to measure your drain/give ratios, and also discuss whether or not it's time to fire...yourself? Best of luck with that exit interview.

Jeff Fenster: Founder and CEO of Everbowl

Just about everyone who opens a restaurant has had experience in the industry. If 9 out of 10 restaurants fail, why is "experience" placed on such a high pedestal as a prerequisite? Jeff Fenster isn't buying it, and never has. What most see as an asset, Jeff sees as a liability. From payroll companies, to restaurants and even construction companies, Jeff is a serial entrepreneur that forges success through jumping in and figuring it out as he goes along. Jump in on this episode and prepare to "unevolve"; no experience necessary.