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The Cardone Zone - 325: PP "Eric Thomas & Grant Cardone"
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325: PP "Eric Thomas & Grant Cardone"

The Cardone Zone

05/22/18

34m

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On this edition of Power Players Grant Cardone interviews The Hip Hop Preacher—Eric Thomas. He had a difficult childhood and eventually ended up homeless eating out of trash can. He had a victim mentality that so many struggle with in poverty and in fatherless homes. Now Eric produces massive success for himself and others speaking at churches, schools, and wherever else there is life—he goes to motivate and inspire. American success is real but you have to go out and get it. Eric Thomas grinds to the grind. He says you must have Intrinsic motivation. Don't grind for the wrong reason. Don't make excuses. Outwork and out hustle people. Excuse are everywhere and people complain about not having enough support. Most people want the reward, but not grind. They want the lottery. Shoot for the Nobel Prize. It is about changing people's lives. Eric says the problem with education is that for many students there is no clear purpose, you go to school because you have to. Eric had to be rich because he decided he couldn't be stuck at a job—he wants to own his time. It's not just about having a nice house and nice cars, being rich allows Eric be able to buy his wife the expensive medication she needs. TGIM is better than TGIF—keep grinding!

Previous Episode

1. You're not buying: If you don't buy, it's because you don't know what you're doing 2. Buying too small: This happens when you become scared thinking that big deals are riskier. This is false, small deals are riskier. 3. Buying on a Budget: don't be confined to what you can "afford". Don't have a budget when you buy, have a budget when you own. 4. Believing the Pro Forma: don't put significance on a fairy tale. 5. Underestimate expenses: taxes and insurance aren't fully understood. 6. Not funding Capital costs—roofs, carpets, etc. need to be funded, so set some aside for when you will need it. 7. Over leveraging—borrowing too much money. 8. Under leveraging—not borrowing money. 9. Buying on CAP rates: If you're only looking at 8 caps, you'll miss out on good deals that don't fit your criteria. 10. Not knowing: ignorance is not bliss.

Next Episode

1. Ask for referrals - it's easier to get referrals than to find a new customer. Don't ask "do you know anyone you can refer to me?" Instead be more specific "When you see what I did for you, who are the first 2 people you think of that need the same help?" Want a deal today? Write down 3 happy customers and call them now and ask for two names from each of them. 2. Upsell an existing customer or extend their current contract. 3. Call every customer you pitched in last 12 months who said no - chances are they still didn't make a decision on any products yet.

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