The Money Podcast David McCourt: Interview With a (Very Grounded) Billionaire
World-renowned entrepreneur David McCourt joins Rob in today’s podcast, listen in as they discuss everything from the benefits of property investment to the critical importance of having a mentor in your life who can help you weather the storm, make the right decisions and spot areas of opportunity after lockdown.
KEY TAKEAWAYS
- Real estate is a great investment because it can handle so much leverage. The only issue is that you always need a cash supply to maintain the property. Real estate is great when the market goes up and when it goes down, as long as you have cash. Right now every piece of real estate in the UK has been repriced, if you have the cash you are able to expand your portfolio.
- If someone wants to get out there and do their thing and put their name out there then they should just go ahead and do it. They should not feel the need to compare themselves to or copy other people, they should just want to be them in their unique space and take advantage of their opportunities.
- Unemployment and not training people for the new economy creates all sorts of mental health problems. Taking people's dignity away is a huge driver to deteriorating mental health. Entrepreneurs need to figure out how to create new jobs and new training programmes for those affected by job losses to avoid a Great Depression.
- Cheap businesses are usually cheap for a reason, whoever is looking to buy cheap after lockdown, should ensure they have some expertise in that area. All businesses have problems, but small businesses have fewer resources to deal with those problems.
- Mentors are valuable for everyone and everyone should have one in their life. It is good to have someone who has been through and survived their war, you may be dealing with a different war altogether but you need to have someone who has been through similar to help you think clearly.
BEST MOMENTS
“There’s always room for the best.”
“What you need to do is find something you love to do, and do it with people you love and then you have won.”
“All your stuff is going to be worth a lot less money, so you have got to buy more stuff.”
“Everyone needs a mentor, it is critical.”
VALUABLE RESOURCES
ABOUT THE HOST
Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur”
“If you don't risk anything, you risk everything”
CONTACT METHOD
Rob’s official website: https://robmoore.com/
Facebook: https://www.facebook.com/robmooreprogressive/?ref=br_rs
LinkedIn: https://uk.linkedin.com/in/robmoore1979
ABOUT THE GUEST
David McCourt is an Irish-American entrepreneur with experience within the telecom and cable television industries.[1] He was an early contributor to the development of transatlantic fibre networks and has founded or bought over 20 companies in nine countries. David is the author of the book 'Total Rethink: Why Entrepreneurs Should Act Like Revolutionaries', published in April 2018. The book became a Wall Street Journal best-seller in 2019