[01:33] What Has Albert Been up to?
Six years ago, Albert was dropping bombs with Brad, just before launching Driven 1. Over the years, he sought out mentors and successful businesses to learn entrepreneurship strategies. From LightSpeed, he learned how to scale the mortgage business by training other people to replicate his personal success. From Patrick Bet-David he learned about stellar systems and procedures. Today, he is making money, his companies are running on autopilot, he has a new daughter, and life is just great. But Albert is not resting on any laurels because even successful enterprises have to work at staying ahead of the competition.
[05:49] No, He Didn’t Grow up Rich
Albert learned a lot of things from people that started businesses from scratch, observing how they systemize things and organize resources. Not only did he learn, but he also started implementing. One of the key changes he made was to hire experts for various tasks like managing websites, graphic design, and videography. He swears by LightSpeed VT because ever since he implemented metrics in his systems and procedures, he has seen a dramatic improvement in performance in each of his companies.
[10:39] Feeling the Pressure
The first six years of entrepreneurship were not smooth sailing and Albert battled anxiety and heart attacks. Unlike Brad who doesn’t get stressed out about stuff, Albert constantly worried about keeping his employees and team alive. For budding entrepreneurs, it should be reassuring to know you can always find helpful information on social media, at seminars and with virtual training.
[15:22] Albert’s Success Formula
The formula that moved The Mortgage Guy to the next level was to focus on four things: sales, training, systems and Ferrari marketing. Yes, “Ferrari marketing” because Albert believes in creating an image that will make people want to listen to you. The type of mentor you choose could also make a difference to your level of success and that’s why he went from having a millionaire mentor to working with a multi-millionaire mentor.
[20:07] Proximity Is Power
Albert is not scared to put money on the line and pay a premium to be in the right environment. Being strategic about what event to attend or setting up office at the right address, does make a difference. For Albert, it meant getting access to Grant Cardone and Patrick Bet-David. Proximity made it possible to establish personal and business relationships through which he has learned life-changing lessons. People make the mistake of buying event tickets based on speaker line ups instead of choosing events based on who will be in attendance. You want to hang out with people who will bring you up or collaborate in your deals.
[22:41] Invest in Proximity but There Are Guarantees
Investing in proximity is not a guarantee that you will establish relationships; it simply gives you a practical opportunity to make a move towards your goal. When you get ideas from formidable mentors and then fail to execute, you lose their respect. Cody Grandadam invested in proximity and ended up hanging out with Daymond John.
[25:59] It Takes Courage
In Albert’s words, “You have got to have some big balls.” Sometimes it’s unclear how you’re going to pay your next check but you have to go on doing what needs to be done to keep the business running. He is not afraid of taking risks, having the courage to commit and then create money later. For the inaugural Driven, Albert had just enough to pay the deposit for Grant Cardone as speaker and to pay a deposit for the perfect venue. His funds were tied up in a transaction but that didn’t stop him from taking the first step towards bringing his dream to fruition. Advance ticket sales soon started coming in and the event was a huge success. Even his social media blew up from then on.
[32:57] Top Three Tips for Beginners
- You have to have courage to go all out, no matter what size of investment you have.
- You need a supporting spouse because if your partner is unsupportive, it’s unlikely that you’ll make it.
- Invest in real estate. Had it not been for real estate, Albert would not be where he is today.
[39:44] Bonus Tip- the Eight Mile Rule
Draw a line eight miles from the center of town in any direction and buy property there. Hold on to it and watch it appreciate as the city grows. Eventually, somebody will buy the property for way more than you paid for it.