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Have you ever heard about a billionaire going bankrupt and then shortly after becoming a billionaire again? Most people assume their rebound was luck or favoritism. Undercover Billionaire is a show trying to prove that anyone can become a billionaire in America. One of the show's stars, Grant Cardone, presents an incredibly in-depth behind-the-scenes commentary on what he was thinking, feeling, and doing to endure and accomplish this challenge. Grant Cardone has to build a million-dollar business in 90 days, starting only with $100, a cell phone, and an old truck. He is determined to prove that the real asset a self-made billionaire has is the knowledge and experience of the journey.
Day Thirty - Forty-Seven: The Halfway Point
Undercover Billionaire Behind the Scenes with Grant Cardone
Turn your basic necessitates into opportunities. Instead of just going to the store and buying groceries, you could partner with a local farmer to purchase their second-tier produce. While you could save a little money, it's vital that you make new contact. You can apply the same concept to your living situation. When you are looking for a place to live, make a note of the opportunities available. Million-dollar real estate is not just for millionaires; if you can learn how to bring all the pieces together, you can benefit without putting any money in. Discovery Channel didn't want Grant to buy real estate in this challenge because they believed it was not a business. However, he was able to use his knowledge alone to put together a real estate deal worth six million dollars. You have to learn to look for opportunities, especially in life's most basic needs.
You don't need a business plan or a website. It would be best to have a strategy and the ability to sell yourself. To win over partners and clients, you must share your goals and show them how they will benefit when you succeed. Show them that you are motivated to go beyond the finish line. The average advice is to make small investments and grow them slowly. Grant Cardone advises you to be prepared but go after significant investments. You will be afraid, but you should do it regardless. Creativity follows commitment. Commit first, and the rest will come. Grant only named the marketing company he built once he gained a few clients. Keep sight of your single target.
Money is easy to make when you get contacts and turn them into contracts. If you are starting from scratch, you need to pick up the phone. Cold calling is not dead, but you need to create credibility. The three best ways to earn credibility are aligning with someone credible and referencing relevant and verifiable success stories that capture their attention with big claims. Sales is a numbers game; you need to keep calling to determine who has your money. You may have to contact one hundred people to get ten contracts. The goal of the calls is to get a face-to-face meeting.
It would help if you were yourself but tailor your pitch to your potential client. If your client is competitive, then show them your competitive side. If they are sensitive, then open up to them. You must learn to read people to respond to their energy. The goal is not to be fake because not only does it not work long-term, it's exhausting. However, you are a complex person with ranging emotions. You can learn how to activate each part of yourselves that you can use to be memorable with a potential client. You must show them how committed to your shared goal you are.
Phone calls only get you so far; you must make in-person connections. Consider the places everyone shares, such as gyms, barber shops, & beauty shops. Find people connected to the community. Use your skill to earn their trust, then ask for their business and all the leads they can offer. Learn how to focus and cut your losses early so you don't waste time. You have to ask the right questions. Be willing to cut a meeting short once you realize there is no money.
You will have dire and off days. You will fail at a big pitch and lose a huge potential client. You will question everything you are doing. Are you doing the right things or completely missing the mark? You will genuinely consider quitting. The fight on the ground is terrible. You must have faith in your strategy to push yourself to keep going even when it doesn't seem to work. When you got nothing working, you will feel like you are nothing. Entrepreneurs must endure many ebbs and flows, so getting used to it is best.
Closing is what fuels the highs of entrepreneurship. Grant exposed a few closing tips he learned from 35 years of experience during the show.
- Never get emotional in a business deal. Do not react emotionally.
- Don't pay for the split game. The typical negotiation strategy is to split the difference. That strategy has no basis in anything and proves that the other partner doesn't have an actual number in mind. Instead of playing the split game, offer 25% of the difference.
- Do your homework and be able to break down your deal in the most simple terms. Engage your clients by asking questions throughout your pitch. You can answer every question, but you have to know the difference between real and nothing.
- Enough is never enough. You need to get aggressive and attack every outreach possible. Money follows attention. The benefit of working on multiple angles to the same goal is that when you hit the wall on one, you can quickly focus on another.
Every single self-made successful person developed the ability to find good deals and the contacts to accomplish a successful outcome. Once you become successful once, it becomes possible to win again. That's why becoming successful is so important. Muscle memory is why a self-made millionaire can go bankrupt but get it all back in less time than it took initially. Grant Cardone is a fantastic educator on becoming successful no matter what you know or have right now.
Works Cited
Cardone, Grant "Day Thirty - Forty-Seven: The Halfway Point" Undercover Billionaire Behind the Scenes with Grant Cardone, Grant Cardone Companies 2023. pp. 2:47:19 - 4:20:27
