Intentional Growth #221: From Hitting Rock Bottom After an Exit to Building a Real Estate Empire Managing over 6,500 Properties
Kent took a company from $800 million to $1.8 billion in 30 months, exited, and then lost everything. He became depressed and spent a few years reinventing himself before finding his passion in real estate and entrepreneurship. Through Kent's incredible and raw story about realizing time is the most valuable asset he could ever have, you'll see how becoming intentional and scaling and growing your business the right way leads not just to success, but fulfillment.
What You Will Learn In Today's Podcast Interview
- Rock-bottom isn’t a final destination—bouncing back is hard work, but you can build something better if you take your wake-up call to heart.
- The difference between creating value and creating income.
- Whether you own a job or a business, what the difference is, and the dangers of becoming trapped in it.
- The ways data helps your bottom line and the power that comes from giving people what they want.
- Why micromanaging good employees will actually push them away.
- How common advice that keeps your aspirations low comes from dream-stealers who don’t know how to achieve their own goals—and what advice you should listen to instead. Don’t get conned into believing you have no control!
- Why you should scale your business to be sustainable without you at the helm.
- How to recognize the impact of your driving factors and assess if they’re working for you.
- Why you should hire people who challenge you and are smarter than you.
- How selling a company is like getting divorced from hundreds of people, all at once.
- If you pushed your ego aside, do you really need to be CEO? Could someone else do it?
- That roughly 35% of real estate transactions in a single family home are done with cash.
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Podcast Summary
If you don’t run into challenges, you’re not trying hard enough. Kent Clothier shares his incredible story that illuminates why down isn’t out and choosing to act with intention leads to greater success.
Learn how to turn obstacles into opportunities from someone who lost everything and then built an even stronger business after. There is no such thing as can’t in the business world, so you have to be honest with yourself—why are you really content with your status quo? How hard would you work to change it, if you knew what steps to take?
Creating income is hard work, but creating lasting long-term value and sustainable cash flow is harder. How hard are you willing to work, and for how long? Right now, if you were to take a week off work, what would happen? If your blood pressure went up at the thought, you don’t own a business; you own a job.
Is that really what you put all this hard work in for? How valuable do you think someone else is going to find your job, versus a company that doesn’t rely so heavily on its owner? Sometimes the obvious answers are the hardest to come to, as you'll hear all too clearly from Kent. Hire the right people to support you so that you aren’t taking the lead in every role—these people will be smart and challenging and you’re going to learn to love it as they help you achieve those goals that have always felt out of reach.
The last thing you should believe is that you are not in control of your own destiny, or that of your business. As Kent has demonstrated repeatedly over the course of his career, there is success hidden within every challenge you run into. If you’re not being challenged, you need to look at what’s holding you back because chances are . . . it’s you.
About the Guest:
Kent Clothier is President and CEO of Real Estate Worldwide (REWW), a multi-faceted real estate education company. He built award-winning real estate systems and compiled national data on real estate cash buyers and private lenders to lead him to intentional success.
He knows how to tailor what his businesses offer to what clients want. Kent has built eleven companies, flipped over 6,000 houses, and currently manages 6,500 properties over seven markets, soon to be eight.
Author of This Shit Works: A No-Nonsense Guide to Networking Your Way to More Friends, More Adventures, and More Success, Kent is big on chasing your dreams and living for the day. His way of doing this is showing people how he reached success and breaking it down as simply as possible so they can replicate it.
Quotes:
27:17 - “You have to surround yourself with people that are really smart, which means you’re going to have to invest in them, invest in yourself.” - Kent Clothier
42:23 - “They care about my company as much as they care about themselves because it’s authentic all the way through. And absolutely, I don’t care about doing that and pushing on, because the way I see it, they’re going to go either way. Either they’re going to be attracted--wildly attracted--to the best version of me, who I really am. Or, I’m absolutely going to repel you from the very beginning and you were never going to do business with me anyway. So who cares? Let’s just get it over with.” - Kent Clothier
49:05 - “It’s about time. I don’t want to waste yours and I don’t want to waste mine, right? My motto is that time is now. It’s on my wrist. I don’t wear a fancy watch. I wear a silly wristband and I have for ten years and I’ll be damned if everytime I look at my wrist, that bitch is right.” - Kent Clothier
63.20 - “When somebody sits there and tells me ‘I can’t’, I’m like ‘No. Let’s just be honest with each other.’ More importantly, you be honest with yourself because you’re the one that’s always listening to the words coming out of your mouth. Just replace those words with, ‘I choose not to.’ cause that’s really what you’re doing.” - Kent Clothier
Links and Resources:
Website: Kent Clothier
Twitter: @kentclothier
Instagram: @kentclothier
Mastering Your Cash Flow Digital Course
Reach out to me if you have questions about the boot camp!
You can also reach out to me via email at rtansom@arkona.io, on my LinkedIn.