Ryan G Wright is the CEO of Do Hard Money and podcast host of Income Hacker. He has been teaching others in the real estate investment industry for more than 20 years, is author to five books, and has been a speaker for groups ranging from Bank of America to the ReCaptivate Conference.
Entrepreneurial Role Models:
- Ryan’s Dad and Grandfather
Also mentioned
When business started difficulties overcame:
“I think the biggest difficulty any entrepreneur has and I had as well is capital. How are we going to pay for this? How are we going to do this? And really when you come down that road you have two options: you bootstrap it and you get friends, family, raise the money or figure out a way to do it; or you go and try and get someone to invest in you, get venture backed type stuff. And the venture backs usually very difficult depending on what type you are in or what history that you have. So for me it was bootstrap. The most difficult thing was this capital and how to raise capital. So what I decided to do and I decided at an early age was to live below my means. So if I made a dollar I didn’t spend a dollar, I invested, saved and try to always live below my means so that I would have capital I could invest myself without having to be beholden to other investors or not have the capital to do it. The downside to that is it’s a slow growth, it takes time and there is stressful moments along the way”…[Listen for More]
Favourite Books:
Atlas Shrugged by Ayn RandFavourite Quote:
Somebody said that it couldn’t be done,
But he with a chuckle replied
That “maybe it couldn’t,” but he would be one
Who wouldn’t say so till he’d tried.
So he buckled right in with the trace of a grin
On his face. If he worried he hid it.
He started to sing as he tackled the thing
That couldn’t be done, and he did it.Somebody scoffed: “Oh, you’ll never do that;
At least no one ever has done it”;
But he took off his coat and he took off his hat,
And the first thing we knew he’d begun it.
With a lift of his chin and a bit of a grin,
Without any doubting or quiddit,
He started to sing as he tackled the thing
That couldn’t be done, and he did it.There are thousands to tell you it cannot be done,
There are thousands to prophesy failure;
There are thousands to point out to you one by one,
The dangers that wait to assail you.
But just buckle in with a bit of a grin,
Just take off your coat and go to it;
Just start in to sing as you tackle the thing
That “cannot be done,” and you’ll do it.”It Couldn’t Be Done – Edgar Guest – 1881-1959
Recommended Online Resources:
Entrepreneurs’ Organization – The Entrepreneur Organization enables entrepreneurs to learn and grow from each other leading to greater business success and an enriched personal life
Best Advice to Other Entrepreneurs:
“the first million dollars… So when you are scaling from zero to a million of revenue for the year… The first million dollars is all about sales. And that’s a mistake I see a lot of entrepreneurs making is they try and have the perfect product, try and have the perfect customer service and the try to have the perfect whatever. And I am not saying those things and not important, you have got to have customers, you have got to have people in those things. But it’s all about sales, it’s all about revenue”…[Listen for More]
More About Ryan Wright:
Neil’s Quote at the Beginning:
“Creative without strategy is called art. Creative with strategy is called advertising.” Jeff I. Richards
Other Quotes From the Chat with Ryan Wright:
- “I think one of the big mistakes I made was being too cheap to not find and pay for mentorship. The more I’m looking at it, the more people where I have gone and said who is an expert, who’s done this, who’s been there and soliciting their help and paying for their help”
- “I think early on I was too hesitant or too cheap looking for cost rather than value to do that. And the more I’ve done that the more success I’ve seen”
- “I’m a little different, I like change so I embrace it. So, for me I had kind of the opposite issue of how can I make sure we don’t change too much. So, one of the things we do as an organisation is, we have a change log. Every time a change is made that’s pretty impactful for the organisation as a whole, we jot it down. And so, we can go back and look at the financial statements we can say what happened back in June. Oh, my goodness we lost three of our CSR’s or we lost this or we got this account or this happened. In so keeping track of the change log for us is really important”
- “the secret to success is really simple show up, show up on time and show up prepared”
- “everyone says it can’t be done and then somebody goes and does it”
- “there’s thousands who say can’t be done and you’ve got to figure out the way to do it. That’s what entrepreneurship is all about”
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