The 5 Failures You Must Avoid (#5 Cost Me $1.2 Million Dollars!!)

The 5 Failures You Must Avoid (#5 Cost Me $1.2 Million Dollars!!)
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About Steve Trang
Steve Trang’s mission is to create 100 Millionaires. Why 100 Millionaires? Steve saw that assisting someone become a millionaire by building their business is a key measurable to helping them fulfill their dreams. People change and update their visions over time, but having the means to achieve them remains a necessity. Thus, creating millionaires means helping people live their dreams.
To further this mission, Steve started the Real Estate Disruptors podcast in 2018 to inspire wholesalers and real estate agents to double their incomes by adding a second leg to their business - working together on investment properties. The podcast has grown to over 100,000 downloads per month and over 3 million UA-cam views, with new guests sharing their success stories and imparting advice every week.
As a sales coach, Steve has helped thousands of clients generate millions in sales over the past few years in a variety of industries. His Disruptors Selling System teaches salespeople to ethically work with customers to discover their true needs, then craft a solution that works for the customer.
One of Steve’s favorite quotes is from the great Zig Ziglar: “You can have everything in life you want, if you will just help enough other people get what they want.” He heard this quote when he first got into real estate, and it has stuck with him throughout his entire career. In fact it’s one of the core values Steve lives by.
Steve is also a successful businessman. On top of owning single family rentals, he also owns apartments, co-founded a bank, and is a part-owner in several other businesses.

[@edwinnunez1953]

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[@flipanywhere]

**UA-cam Chapters for "How Ryan Weimer Lost $1.2MM Dollars On One Deal":**
00:00 Introduction to Ryan Weimer's $1.2MM loss
00:30 The shocking call from the GC and fire code issues
00:53 Ryan Weimer’s background and intro to the Disruptors show
01:20 Moving from San Diego to London: lifestyle and work shifts
02:36 Challenges of balancing family, work, and global moves
03:33 Boise’s real estate market boom and aggressive strategies
04:41 Sacrifices of late-night work schedules and family dynamics
05:57 Adjusting expectations with team and personal life in London
07:06 Differences between American and British cultures
08:09 Funny experiences learning British slang
09:30 Ryan’s college trip to London and cultural surprises
10:33 Seasonal affective tendencies in the UK and pub culture
11:08 Five business failures: lessons from the trenches
11:38 Treating a business as a property conveyor belt
12:49 Challenges with market shifts and liquidity problems
13:59 The reality of cash reserves vs. equity-rich situations
15:09 Surviving with creative finance and innovative deals
16:49 Flipping gone wrong and dealing with major financial losses
17:59 Strategy shifts to adapt to market downturns
18:59 Handling delayed property sales and cash flow stress
20:10 Losing $80K from a transaction coordinator error
22:21 Lessons learned from a costly oversight and lack of checks
23:33 Emphasizing accountability in team culture
25:06 The importance of careful hiring and rigorous screening
27:26 Predictive Index (PI) insights for hiring the right candidates
30:18 Developing a structured hiring process
32:01 Sales team challenges and building resilience
34:16 Preparing sales hires for long-term success
36:06 The value of persistence and self-reflection in adversity
38:22 Personal lessons from using PI for professional and personal growth
39:27 Adjusting family dynamics with shared self-awareness
41:07 Balancing Alpha personalities in relationships
43:39 Advanced tools like Enneagram for better interpersonal dynamics
44:09 Managing confidence and decision-making amid setbacks
46:36 Embracing failure as a growth strategy
47:55 The reality of long-term lessons from business challenges
49:47 Balancing ambition with calculated risk-taking
51:28 Planning for failures and mitigating risks effectively
53:13 The $1.2MM loss: development deal disaster explained
55:10 Choosing the wrong mentor and missing red flags
57:13 Development deal pitfalls and hard lessons learned
59:05 Delays, funding issues, and lender failures
01:03:13 Fraudulent contractors and legal complications
01:06:29 Liquidating personal assets to finish the project
01:09:54 Recovering with innovative creative finance strategies
01:16:49 Introducing the Wymer Method: 0% interest deals
01:20:47 Biggest deal success after learning from failure
01:24:19 Current team structure and recruitment focus
01:27:57 Importance of high cognitive scores in hiring decisions
01:30:18 Scaling wisely while maintaining team standards
01:37:41 Predictive Index insights for hiring and team dynamics
01:39:27 Building resilience through mentorship and community
01:45:15 Final thoughts: market opportunities and strategic growth

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Thank you for this!

[@cmayes22]

Where can I learn more about managing sales people or sales leadership?

[@DisruptorsPodcast]

Please email me at [e-mail] so I can tell you more about it. It's something we still offer and have added more into.