Scott Royal Smith is a real estate investor and asset protection attorney in Austin, TX. Scott became an entrepreneur while still in law school, purchasing and running an auto mechanic shop, to pay his way through school. After graduating, Scott begin his law career as a high-stakes corporate litigator. He spent the last 8 years of his career analyzing real estate investment and asset protection. Today, Scott is the Founder and CEO of Royal Legal Solutions. A firm he built to offer tax, business and legal strategies to clients all over the U.S and Canada. He continues to educate the public on asset protecting strategies to help circumvent debilitating lawsuits for his clients.
Entrepreneurial Role Models:
- Scott’s CMO
- Tim Ferriss – author of The 4 Hour Workweek
When business started difficulties overcame:
“the hardest part is just getting everything off the ground because I don’t have a huge amount of skill sets – I am really really good at like two things. but to get a business up off the ground it takes so much and so many different levels. Everything from like how do you track all of the people coming in correctly that are your leads and how you going to follow up with them, how do you organise all of your client files, and how do you do customer relationship management, what are you going to do the website. There is actually just way too many things that I didn’t know how to do and really honestly just didn’t want to do at all because I thought they were boring and I didn’t have any desire to do them. I really just wanted to do the piece I like to do which is solving problems and talking to people about the problems that I solved, here is how I solved it and here is the best way that I can think to be able to do something…”…[Listen for More]
Favourite Books:
- The 4-Hour Work Week: Escape the 9-5, Live Anywhere and Join the New Rich Book by Timothy Ferriss
- The 4-Hour Body: An Uncommon Guide to Rapid Fat-loss, Incredible Sex and Becoming Superhuman Book by Timothy Ferriss
- The 4-Hour Chef: The Simple Path to Cooking Like a Pro, Learning Anything, and Living the Good Life Book by Timothy Ferriss
Favourite Quote:
“Never Never Never Give Up” Winston Churchill
Recommended Online Resources:
Reddit – gives you the best of the internet in one place. Get a constantly updating feed of breaking news, fun stories, pics, memes, and videos just for you.
Best Advice to Other Entrepreneurs:
“find something and start selling it right now. Don’t wait for anything else, don’t say oh I have to have XYZ is the thing first before I try to sell it but just get it and go to where people are at, and that can be potential customers, and ask them if they will buy it for $10 or whatever your price point is going to be. That is really the first step every entrepreneur has to take with any new product. And you don’t have to have anything else besides just your product and asking somebody they will give you a dollar for it to be able to find out whether you have a good idea or not”…[Listen for More]
More About Scott Royal Smith:
Neil’s Quote at the Beginning:
“What if you were always stuck in one place, your mind spinning and unable to go forward like tires clenched in mud, because the answers wouldn’t reveal themselves to you?” Will Lavender
Other Quotes From the Chat with Scott Royal Smith:
- “in different zones of where you are in the business build it takes different people to get you there. So you need somebody who can move fast, think fast and adapt very quickly at the very beginning of the business but then as it grows you actually need a lot more, stability becomes the new currency not adaptation. And how can you create things that are stable and repeatable”
- “become an authoritative resource just because you know more. And once you know more you will have more confidence than everybody else in that area and then you can just go up and start talking to people about it and start selling them on what you can do”
- “read more and go to more conferences. Just being exposed to lots more of diverse ideas and information would have been really helpful. Because I found that many times I innovated a whole new processor something or whole new way of approaching XYZ problem, it was new for me anyway and I created it from the ground up and I was really proud of it only to go to a conference and find out that somebody else was presenting my idea at the conference”
- “your success in your business is 100% predicated on your own personal development at most levels”
- “if you never give up and you always keep fighting you are always going to be able to find a way out of it. You only lose the moment you stop fighting”
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