The real estate investor and motivational speaker talks about how he will face the new season of ‘Undercover Billionaire’.
5 min read
This article has been translated from our English edition.
When Discoverand challenged Grant Cardone He refused to give up his money, contacts and resources and build a million dollar business in 90 days. He said he would build a $ 10 million company instead.
The motivational speaker, real estate investor, author and entrepreneur is one of three candidates for the new season of Undercover billionaireall compete for seven numbers first. Your opponents are Elaine Culotti, a property developer, interior designer, builder and founder of House of Rock, and Monique Idlett-Mosley, Founder and managing director of the technology fund Reign Ventures. We caught up with Cardone to see how he rose to this challenge and how his strategy may or may not deviate from his usual plan of attack.
Did you have a plan, a great vision of what you became when you started?
Yes, I had a great vision … instead of building a $ 1 million business in 90 days, I wanted to build a $ 10 million business in 90 days! 10X lenses solve all problems. If the goal is big enough, you will discover the strategy.
Is that how you approach all projects?
I believe and experience that most people miss their goals and then stop because the payoff isn’t big enough. 10X is a business strategy and a proven way to solve problems of scale. Most companies fail because they are too small, they think they are too small, their reach is too small, and their income is too small. Building a 10-fold business is pure math. Follow the math. Follow the money. Do the work. I don’t follow my passions or what I like to do or what I’m good at, I follow the goal.
What do you think was critical to achieving this level of success?
Courage, creativity, commitment, conviction, coherence and trust. I know how to grow and scale in bankruptcy because I know you don’t need money to make money. This idea is a myth. When Discovery gave me $ 100 the first thing I did was deposit it into the bank so I couldn’t touch it. I don’t need money to start a business. I need people, not dead presidents. You make money when you connect with the right people who want to make money.
What do you always advise people who are just starting out?
Spend 95% of your time on the offensive (get money) and 5% on the defense (save and save). Spend all of your time getting customers and growing your business.
What do you look for when people suggest an investment?
I look at the person in front of the idea, concept or suggestion. How do you work? How do you spend your money? Do you own a house, a car, a Gucci belt? How do they communicate? What is the deal? Do you think big or small I measure the operator more than the investment.
If you were really starting from scratch, would you go the same way?
I wouldn’t go to college if it wasn’t for a billion dollar payday. I would only look at industries that are making massive profits, ignoring my passions and what I love to do, and instead figuring out how to enter a space with massive volumes and margins.
s always talk about accepting failure and learning from it. Do you agree? And does that make it a little harder when you have a camera in your face?
I don’t try to learn from my own mistakes, I try to learn from the mistakes others make. That doesn’t mean you won’t make mistakes. I do a lot, but that’s not how I learn. But when I start a business or buy real estate, I can’t afford to make mistakes. I have to make it work. Having cameras with me while doing this show just put more pressure on me to act. Nobody wants to fail, but nobody wants to fail when millions of people are watching.