Tom Ferry Reading Blog

5 Key Takeaways from My Interview with Grant Cardone – #TomFerryShow

Tweet it Out: I loved @TomFerry's interview with @GrantCardone! So great! Lots of great topics. Thanks Tom!

Writing this blog simply cannot do this episode of the #TomFerryShow justice.

I really want you to watch my strange, fascinating, enlightening interview with Grant Cardone.

We talk about:

  • The difference between coaching and training
  • Our contrasting philosophies on saving money
  • The one thing we both agree real estate agents aren’t doing enough of

And just wait until you hear what he says about your dog!

But if you don’t have the time, or just prefer to read, I’m going to distill my 5 biggest takeaways from spending a recent day with Grant.

 

The Man Behind The 10X Rule

In case you’ve been living under a rock and don’t know Grant Cardone, he’s a sales expert, an author, a speaker, an investor… and one of the most driven people I know. He’s also quite a character (seriously…go watch the video!).

Here are my top 5 takeaways from our interview:

No. 1: “So many real estate brokers, you’re in the game, looking at deals, showing the stuff, but you never evolve past the sales model. You’ve gotta become more than a salesperson.”

I hope you take Grant’s point to heart. You are in prime position to not just sell real estate, but buy it. Grant’s whole emphasis is on producing passive income to set yourself up for your future.

This does NOT mean fixing and flipping houses. It means accumulating doors in bulk.

 

No. 2: “People will only do what they have to do. And they’ll wait until the last moment to do it.”

Grant says most people won’t do things they don’t want to do until they are forced to do them. That’s why he loves deadlines. Anytime you impose a time limit on a task, it creates greater urgency and accountability to get it done.

Great advice!

Free Real Estate Agent Coaching Consultation

 

No. 3: “Money sitting around always makes me lethargic. Get rid of the money.”

Here’s where Grant and I differ somewhat philosophically.

I believe it’s crucial to have savings for those “rainy day” situations that can pop up out of nowhere and wipe you out.

Grant’s view is that sitting on cash reduces one’s motivation. So he advises to invest your money and get it tied up so you know you have to go produce. Buy assets that either produce money or produce time, he says. When that money goes away, you’ll go back into create mode.

 

No. 4: “It’s not my money.”

While I might take a little more cautious approach when it comes to savings, I do love Grant’s outlook on money. I’ve said many times money is just a tool, and Grant’s philosophy aligns with that thought.

He says money doesn’t truly belong to anyone; we’re all just custodians of it for a period of time. We get to decide how to use it and who to give it to, but then you need to get back into the marketplace and recreate the money.

Money isn’t about the cars, watches or trips. It’s used to solve problems.

The ultimate use of money is to solve problems for yourself, your family and even people you don’t know. (“Nobody gives enough to charity,” he adds.)

 

No. 5: “You can’t get that from training.”

Grant’s breakdown of training vs. coaching was spot-on…

“Training is what I did as a young salesperson,” he said. “I’d wake up in the morning and I’d watch a tape. That was on my own. There was no coach involved. That was me, self-directed. A self-starter. I’m going to watch it over and over and over again, duplicate it, practice it and train it.

“The coach was when I got to the place. That’s the guy that could give me some feedback. Maybe I’m having trouble, I’m doing a presentation and it’s not going well. That’s when I go to my coach and say, ‘Hey dude, can you come watch what I’m doing? What am I missing? I have some blind spot …there’s something I cannot see.’

“You can’t get that from training.”


 

 

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