Innovative Approach to Syndicating Ownership of an Expansion Sports Team

In today’s episode, our guest is Sam Primm. Sam's unconventional approach to challenges, rooted in faith and openness, has led to remarkable success in real estate and education, as well as amassing a significant social media following. Despite his achievements, Sam remains humble and genuine, proving that success doesn't always require flashy displays. 

[2:08] Why should I listen to you? 

I suggest you listen to me because I offer a unique perspective. Perception, the lens through which we view the world, is a genuine perspective. It involves removing oneself from a situation to see it from the world's viewpoint, which is often the most beneficial. Hence, I believe we could have many engaging conversations about perspective and perception during our next coffee meet-up, delving deeper into the topic.

[3:00] Where do you get to the point of really wanting to hear the truth?

It's truly been quite a journey, my friend. We have ample time to delve deeper into this. In the past, my approach was simply to roll up my sleeves and outwork others, which certainly propelled me to a certain level of success. However, I've come to realize that mindset plays a pivotal role. When I adopted the mindset of seeing the bigger picture, I experienced significant personal, professional, and financial growth. Interacting with individuals who are far ahead of me has shown me that their mindset, more than anything else, has been the catalyst for their success. It's about shifting your paradigm and understanding that reaching the next level requires a certain degree of detachment from oneself, whether it's driven by vanity or a genuine desire to help others. 

[4:10] What was your mindset and experience prior to making this shift?

I was initially on the traditional path of working a job while attending college, following the idea of working until retirement, saving money, and living frugally. However, my perspective shifted when I started investing in real estate on the side with a friend and witnessed its potential. Recognizing this as my new path, we dedicated ourselves to real estate, eventually leaving our jobs in 2018 to fully commit. Entrepreneurship brought its challenges, including managing employees, payroll, and overhead costs. To overcome these hurdles and continue growing personally and professionally, I sought guidance from successful mentors and invested in mastermind groups. 

[5:58] What enabled you to overcome that hesitation and take the leap into pursuing what you're doing, considering that many people often find themselves stuck in a similar situation?

I believe there's likely some ignorance in simply diving into things without fully grasping the potential consequences or overanalyzing. However, this tendency to take action without hesitation can be both advantageous and problematic. While it propelled us forward, it also means I struggle to find contentment and live in the present moment. This approach has its benefits and drawbacks—it propelled us to quit our jobs and achieve significant success in real estate, but we often neglect to appreciate the journey. It allows us to bypass obstacles that might otherwise hold us back, but it also means we miss out on the opportunity to savour the experience. So, I think the main issue is that I acted impulsively without much consideration.

[7:20] What specific action or decision separated you from simply having a mindset shift to actually living the dream of quitting your job?

I believe I began to recognize the significance of sharing my story and its impact. As I started posting on social media and witnessing others' stories, it bolstered my confidence. Seeing the tangible impact on myself, my business partner, and others encouraged me to believe that if they could do it, we could too—both online through social media and collectively as a team. It was primarily about building confidence, as I needed to witness firsthand the effects of sharing our journey.

[8:00] How did you navigate conversations with your partner, friends, or even spouse who might have had doubts or concerns about your decision to pursue your business endeavours?

Moving forward, I'll refer to my business partner as Lucas. It became evident to us early on that when the right combination comes together, the synergy can be exponential. Having known each other since middle school, and then progressing through high school and college together, Lucas and I share a deep history. Our bond has been forged through various experiences, including standing up for each other in numerous situations. We even ran a painting business during college, balancing work with our shared interests. Transitioning into the real world after college, we realized that real estate offered a promising path to success, even without substantial initial capital. This shared realization led us to embark on our journey in real estate together, a decision that has led to tremendous growth. Currently, our team consists of 47 members, with around 15 of them being longtime friends. Despite the common advice against mixing business with personal relationships, we've found success in intertwining the two aspects of our lives.

[9:50] How do you maintain long-term relationships with individuals who may bring about challenges or headaches without compromising your standards? 

We've encountered our fair share of challenges along the way, but we've become adept at addressing them proactively by setting clear expectations and fostering open communication. Everyone on our team understands the value of their role, and we've occasionally had to reassign individuals to different positions. Fortunately, having multiple companies allows us to find the right fit for both the individual and the company culture. While we don't exclusively hire friends, knowing that they have our backs due to our longstanding relationships is invaluable. Trust and loyalty are paramount to us, as they are more important than simply hiring someone with a specific skill set. In our flipping company, for example, the COO, who happens to be Lucas's brother-in-law, oversees operations, and everyone respects his authority because we hold him accountable to certain metrics. 

[11:40] Can you describe a moment when you felt weighed down by challenges and how you navigated through them? 

Amid current worries and ongoing pivots, I'm reminded of one of our early challenges. About seven years ago, shortly after diving into real estate, Lucas and I encountered a setback when we purchased a trio of houses, only to realize that two of them were bad deals. Facing the prospect of bringing a substantial amount of money to the closing table to salvage the investment, I was ready to throw in the towel on real estate. However, Lucas remained level-headed and optimistic, assuring me that we would find a solution. This experience taught me the value of having a supportive partner to navigate challenges and persevere through setbacks in our entrepreneurship.

[18:15] Do you struggle with not only creating systems and SOPs but also with developing others to reach your level of skill and expertise?

Trust is paramount in any partnership, particularly when navigating challenges and accepting the inevitability of mistakes and inefficiencies as part of the growth process. I've come to understand that despite having meticulous standard operating procedures, human error is bound to occur. This realization has underscored the importance of surrounding myself with individuals who excel in areas where I may lack proficiency. 

[19:32] What specific area of expertise do you possess where you feel confident in offering guidance and support to others who may encounter similar challenges?

One of my strongest areas of expertise lies in handling social media, which I've dedicated myself to for the past two and a half years. Beginning in 2020, I focused extensively on building my presence across platforms such as TikTok, YouTube, Instagram, and Facebook. Through consistent effort, investing around 30 hours per week, I've been able to amass a combined following of 2.7 million followers. Having experienced firsthand the intricacies of social media growth, I often find myself approached for advice on this topic. I've observed that many individuals struggle with authenticity, often due to outsourcing video production or lacking original ideas. However, I've found that this issue can be easily resolved by prioritizing authenticity. Social media has become a skill that I've honed, and leveraging its power effectively has been one of my most valuable abilities developed over the past year.

[23:55] What is something that many people overlook or underestimate that you found to be essential?

For social media specifically, I've accumulated a substantial number of videos with over a million views—likely well over 50 in total. Interestingly, almost every one of these videos has been recorded on my phone and edited directly within apps. Conversely, I've also invested significant time and resources into more elaborate videos, which have been meticulously crafted by my editing team, sometimes taking up to 13 hours to complete. However, despite their polished appearance, these videos have often failed to resonate with audiences in the same way as the simpler, more authentic content. Through numerous discussions with peers, I've come to realize that simplicity and authenticity are what truly resonate across all platforms. People gravitate towards content that feels genuine and straightforward, as they're primarily seeking entertainment or quick information while scrolling through social media. This insight was gleaned from my own experiences, where I initially found success with raw, unfiltered content recorded solely with my phone. Attempts to "fancy it up" often resulted in a loss of traction, reinforcing the importance of simplicity and authenticity in social media content.

[23:54] What was the main focus for you as you began to delve deeper and refine your approach?

Initially, my approach to posting on social media was quite spontaneous—I didn't have a concrete plan in place. I would describe it as a "post-analyze-post" method, where I would upload content and then meticulously analyze the analytics afterwards. I'd examine why certain videos performed better than others, scrutinizing factors such as the background, hook, length, or background music. This process of trial and error continued for about three years, during which I focused on posting as frequently as possible in pursuit of potentially viral content. However, after amassing a significant following, I've begun to transition towards a more strategic approach. Now, I create content tailored specifically to three distinct avatars that we've identified as our target audience. This shift allows us to create videos to attract and engage with these specific demographics. Overall, my initial strategy of creating viral-worthy content without a specific target audience proved successful to a certain extent, but now I'm focusing on creating content with a more intentional and targeted approach. 

[39:18] What does your greatest direction look like for all these things coming together?

My original goal was one house a year for 10 years, which we surpassed. Then it was $25 million in real estate by 2025, achieved in 2020. Now, we've set bigger goals with deeper meanings: building a billion-dollar organization, owning a billion dollars in real estate, and bringing an NBA team to St. Louis. While NBA ownership is appealing, it represents more than just a status symbol—it signifies financial success, community impact, and job creation, all of which align with my vision for St. Louis's future.

[41:17] Do you want to revive the existing team or build an entirely new team from scratch?

My idea revolves around syndicating ownership of an NBA expansion team through social media. This entails offering small ownership shares to a broad audience, allowing individuals to invest in the team for a fraction of the cost. Unlike the Green Bay Packers' ownership model, this would be a legitimate investment, providing shareholders with returns and income akin to syndicating apartment complexes. By engaging fans across the country as stakeholders, we aim to raise significant capital and cultivate a loyal fan base that supports the team both financially and emotionally. It's a novel approach that could revolutionize sports ownership and fan engagement.

[48:08] What promise did God make to the world when he created you? 

I believe I'm here to inspire millions of people to break free from their ordinary lives so they can achieve more. By increasing their income, they can give and donate more, ultimately gaining financial stability and control over their lives.

Key Quotes

[3:45-3:49] If you want to get to a certain level; you have to remove yourself to a certain degree if you want to get there efficiently.

[17:17-17:21] You have to have had a certain modicum of success to learn some lesson.

How to connect with Sam Primm 

Instagram: https://www.instagram.com/samprimm

Facebook: https://m.facebook.com/fasterfreedomcommunity

LinkedIn: https://www.linkedin.com/samprimm