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Lewis HowesLewis Howes

"How I Went From BROKE To MILLIONAIRE In 90 Days!" | Grant Cardone & Lewis Howes

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Grant CardoneguestLewis Howeshost
Feb 17, 20211h 5mWatch on YouTube

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At a glance

WHAT IT’S REALLY ABOUT

Grant Cardone on Equity, Debt, Sales, Addiction Recovery and Undercover Billionaire

  1. Grant Cardone says wealthy people invest rather than spend and that money is not required to make money, a point he says he set out to prove on Undercover Billionaire by building equity through contacts in Pueblo.
  2. He describes how he pitched a mattress store owner, ran a promotion that he says produced $91,000 in sales, and took a 15% stake in the upside of the business plus an advance instead of asking for cash.
  3. Cardone explains his sales approach of leading with price and intention, qualifying buyers, and treating selling as a customer experience, and says he learned it by first duplicating a master's tapes after quitting drugs at 25.
  4. He argues that negotiations are often lost over face rather than money, that resenting a customer signals overreliance on too few, and that the 2008 crash led him to build scale and take on good debt.
  5. Cardone says money does not make him happy, that accomplishment does, and he admits the show strained his marriage and that laying off a 42-person department during COVID was a mistake he would repeat.

IDEAS WORTH REMEMBERING

5 ideas

Money is not required to make money, but the right contacts are.

Cardone says he never touched the $100 he was given and instead sought people with money, credit and credibility who could turn into contracts and equity.

Seek equity rather than a payday.

He calls hundred-dollar bills dead and equity the future, citing his 15% upside deal with the mattress store owner and Kevin Hart owning his show's platform.

Buy into a going concern instead of starting a new business.

Cardone argues America has too many businesses and that two-thirds break even or lose money, so adding value to an existing business is smarter.

Sell by being upfront and qualifying the buyer.

His steps are stating your intention, explaining what you offer, qualifying the lead, explaining the product, trial closing, and following up, with price shared early so the buyer can convince himself.

Resentment of customers signals overreliance.

Cardone says resenting a customer or a platform like Facebook means you have too few of them, so the answer is to widen your base.

WORDS WORTH SAVING

5 quotes

Hundred dollar bills are dead. They're from the past. Equity is the future. And you're better off with a future, if you believe in yourself, than you are with a dead Benjamin.

— Grant Cardone

Every accredited investor was a non-accredited investor at one time. Every whale was a minnow.

— Grant Cardone

If I resent my customer it is because I have too few.

— Grant Cardone

You're either gonna decay or you're gonna reboot yourself over and over again.

— Grant Cardone

I'm like a hungry dog on the back of a meat truck. I just won't let go.

— Grant Cardone

Read the available transcript
Investing versus spendingEquity over cashUndercover Billionaire in PuebloSales process and information-assisted sellingNegotiation and saving faceGood debt versus bad debtRecovery from drug addiction

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SPEAKERS

  • Grant Cardone

    guest

    Entrepreneur and sales trainer known for real-estate investing and sales frameworks; featured on Discovery’s Undercover Billionaire.

  • Lewis Howes

    host

    Podcast host of The School of Greatness and interviewer focused on personal development and entrepreneurship.

High quality AI-generated summary created from speaker-labeled transcript.

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