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40 minutes | Jun 11, 2021
57. Entrepreneurship vs Corporate Life
What's the difference between working for an entrepreneurial company vs a corporate company? On this episode, Eric Forney and Michael Bounds discuss The Team Success Handbook and some of the distinct differences between working for an entrepreneur versus a corporate company. They explain how an entrepreneurial company is one where everyone is married to the outcome and thus willing to take on any tasks that are necessary to improve the results of the company. Similarly, results are valued much more by the entrepreneur than time, effort and credentials, which are appreciated in a corporate sector. They talk about how opportunity drives the entrepreneur, not so much a paycheck, and how change is frequent when you work for an entrepreneur. To check out The Team Success Handbook, go to https://www.amazon.com/Team-Success-Handbook-Strategies-Entrepreneurial-ebook/dp/B0893R2SFP/ref=sr_1_3?dchild=1&keywords=the+team+success+handbook&qid=1623413203&sr=8-3 And watch the full episodes on YouTube here: https://www.youtube.com/channel/UCTz80Sf-vkaLV0aILIUVpxg
31 minutes | Jun 4, 2021
56. It's Not What You Say, It's How You Say It
We all know the words we choose to use matter, but just how important are the words we choose? On this episode, Eric Forney and Michael Bounds dive into how words shape the way the person listening to you feels about the conversation, and how to pick words that help you get certain desired outcomes. They discuss how powerful it is to ask people to imagine scenarios, and how incorporating future promise about a home is so invaluable as a Realtor. Eric shares how he has learned to use "I assume" in conversation with someone to get the truth out of them. Michael explains the similarities between staging a home and framing your conversation with appealing words. They conclude that you can have the exact same conversation with different words and have a different outcome based on the words you choose.
24 minutes | May 28, 2021
55. The Impending Foreclosure Crisis of 2021
Most Realtors you talk to right now are talking about how the market is going to get better when foreclosures start happening - but is that really going to happen? Eric Forney and Michael Bounds share their thoughts on the idea that we are approaching a foreclosure crisis, and, SPOILER ALERT, they aren't buying it. They discuss how the current issue in real estate right now is a supply problem not a problem necessarily caused by a recession. They break down how the provisions put in place by the CAREs act are such that the government is doing what they can to prevent foreclosures from happening. Similarly, banks aren't trying to get into the home ownership business, and Michael shares how long the typical foreclosure process takes, and how much can change in your life in that time to keep you from actually ending in a foreclosure. They discuss how the pandemic has disproportionately affected minority groups in regards to home ownership and how they hope policy changes can work to close that gap. Don't forget to check out all the episodes on YouTube! https://www.youtube.com/channel/UCTz80Sf-vkaLV0aILIUVpxg
17 minutes | May 23, 2021
54. CRYPTO UPDATE: Is It Too Late to Get in on Crypto?
NEW SEGMENT ALERT! The listeners asked and we listened - Eric and Michael are starting a new segment of Disruptance where they keep you up to date on everything happening with cryptocurrencies. This week, they discuss the drastic dip in the value of cryptocurrencies across the board, what caused it, what it means, and what you should do with this information. Eric also explains whether he thinks it's too late or not to buy into crytpo. Check out the full episodes on YouTube and comment any questions you're dying to have answered. https://www.youtube.com/channel/UCTz80Sf-vkaLV0aILIUVpxg
35 minutes | May 21, 2021
53. How to Outpace Inflation
How is inflation affecting real estate, and what can you do to get ahead of it? On this episode, Eric Forney and Michael Bounds discuss the headline floating around that we are in another real estate bubble. They agree that we aren’t in a real estate bubble like before, because we are really in an everything bubble, meaning with inflation, the price of everything is rising. With 20-40% of US dollars being printed in the last year, they tackle ways to get ahead of the resulting staggering inflation. They explain exactly how well hedged investments can protect you in this impending market of inflation, whether it’s Bitcoin, real estate, diamonds, metals, or anything that operates from a comparative market value perspective. Check out full episodes on Youtube: https://www.youtube.com/channel/UCTz80Sf-vkaLV0aILIUVpxg
40 minutes | May 7, 2021
52. Do Less to Do More
What do you do when your business has grown so large that you don't have time to keep up with everything in your life? Hopefully, you learn leverage instead of quitting. On this episode Eric Forney and Michael Bounds discuss the many benefits to learning how to leverage both personal and business tasks. They talk about how difficult it can be for entrepreneurs to start letting go of tasks and how handing off personal tasks at first can help you build up your leverage muscle. They dive into the different ways to get leverage, including virtual assistants. Michael shares how working with a virtual assistant has drastically changed his workflow.
37 minutes | Apr 30, 2021
The success of your organization is determined by the culture created in it, so how do you ingrain a culture that matches your vision? On this episode, Eric Forney and Michael Bounds talk about the importance of culture and how to indoctrinate it in your team. They dive into what makes up a culture - shared routines, rituals, traditions and values - and how to enforce systems that feed back into those pillars. They discuss cult as the root word of culture and that the positive version of a cult is an organization with a leader whose interests are outward toward their team and their clients instead of being self-serving. Check out the Disruptance YouTube channel to watch the full episodes. Also, leave a comment about any subjects you want Eric and Michael to cover. https://www.youtube.com/channel/UCTz80Sf-vkaLV0aILIUVpxg
37 minutes | Apr 23, 2021
50. Underrated or Overrated: Open Houses, Online Leads, Buyer's Agents and Culture
On this episode, Eric Forney and Michael Bounds continue the underrated or overrated series, debunking the possible lies you've been told about real estate and how to succeed in it. This week, they break down their different opinions on the usefulness of open houses, the insane prices of Zillow leads, how a buyer's agent might not help you and the bastardization of culture as a sales pitch. Check out the Disruptance YouTube channel to watch the full episodes, and comment if you disagree on any of their assessments of underrated or overrated. Also, leave a comment about any subjects you want Eric and Michael to cover. https://www.youtube.com/channel/UCTz80Sf-vkaLV0aILIUVpxg
31 minutes | Apr 16, 2021
49. The Last Opportunity For Wealth Building
In a real estate market with limited supply and investors paying over value for homes, this could be the last opportunity to build wealth with real estate. On this episode, Eric Forney and Michael bounds dive into the nature of today's real estate market and how it is increasing the wealth divide. They discuss how home ownership is the main source of wealth for most people, but as competition increases for buying a home, it's getting harder for them to take advantage of the many benefits of home ownership. They explain how investors are playing a whole different game than a first time home buyer - the investor is wanting to purchase an ATM and the first time home buyer wants to buy a place to live. They break down the huge benefits associated with having a mortgage over a landlord, and recommend that you can't afford to keep paying rent anymore.
31 minutes | Apr 9, 2021
NFTs Are Proof That You Better Know Your Story
What makes a piece of digital artwork sell for $69.5 million dollars? Scarcity, an NFT and a story. On this episode, Eric Forney and Michael Bounds discuss the rising emergence of NFTs, what they are, and how understanding them informs how you should be running your own business. They discuss the scarcity fundamentals that make NFTs so valuable and so trusted and how the story behind the digital artwork is what drives up it's price. They also explain the importance of an immutable public ledger as it pertains to creating indisputable value to certain items. Eric introduces the idea of digital real estate and how important it will be in the future for both advertising and creating entire businesses and experiences. They ultimately both agree that the popularity of NFTs should remind any business owner that it is their chief job to be the communicator of the story of their business.
33 minutes | Apr 2, 2021
47. The Government Doesn't Want You to Pay Taxes
Is it possible that the government doesn't want you to pay taxes? Eric thinks so (with the caveat that you should talk to your CPA and not just him) and this week, he explains why he thinks so. With over 90% of the tax code being made up of rules for credits and deductions, it seems that the tax code itself is set up to be used to decrease your tax liability. Eric and Michael discuss the meaning of contracts, and the difference between the content of a contract and the context of a contract. Any contract is written and then able to be interpreted in different contexts by different people, and the same approach can be applied to your taxes. They discuss a few interpretations of the tax code that are useful to know for your own business, and how the government wants the business owner to keep more of their profit to be able to then employ others who will go use their earnings on taxable events, stimulating he GDP. They conclude that the most honest thing you can do is understand all of the benefits of the tax code so that you can continue to make your employees' and your family's lives better. Check out Tom Wheelwright, who Eric mentioned in the episode, to learn more about tax planning https://tomwheelwright.com/
30 minutes | Mar 26, 2021
46. Underrated or Overrated: Listing Signs, 24/7 Service and Texting
On this episode, Eric Forney and Michael Bounds continue the underrated or overrated series, debunking the possible lies you've been told about real estate and how to succeed in it. This week, they break down their different opinions on how your listing sign should look, if you should be answering calls from your clients at midnight, and if you can run a successful business by texting clients (SPOILER ALERT Eric is kind of a boomer about it). Check out the Disruptance YouTube channel to watch the full episodes, and comment if you disagree on any of their assessments of underrated or overrated. Also, leave a comment about any subjects you want Eric and Michael to cover. https://www.youtube.com/channel/UCTz80Sf-vkaLV0aILIUVpxg
29 minutes | Mar 19, 2021
45. Underrated or Overrated: Fancy Clothes, Fancy Cars, Cash Offers and Bitcoin Offers
On this episode, Eric Forney and Michael Bounds start a new series of underrated or overrated, debunking the possible lies you've been told about real estate and how to succeed in it. In this episode, they break down their sometimes opposing opinions on wearing suits or sweatshirts, driving a granny caddy or a Viper, if cash is king or cash is trash, and if a Bitcoin offer on a listing is laughable or an exciting deal. Check out the Disruptance YouTube channel to watch the full episodes, and comment if you disagree on any of their assessments of underrated or overrated. Also, leave a comment about any subjects you want Eric and Michael to cover. https://www.youtube.com/channel/UCTz80Sf-vkaLV0aILIUVpxg
45 minutes | Mar 12, 2021
44. Who is Eric Forney? Part Two
On this episode, Michael asks Eric about who he is and how he got to where he is. Eric shares how his constant curiosity paid off for him in the jobs he worked before he transitioned into real estate. He explains how he learned a lot about how a business is run while he was at Sherwin Williams, because his mentors were great at both sales and running the business. He talks about learning about P&Ls when his job performance became dependent on them, and how he learned how to play the game of business through creatively working the P&L. He discusses what the transition to real estate was like after he got fired from Sherwin Williams. He discusses how he became totally obsessed with becoming the best agent, and when that happened realizing he needed a new goal, which came in the form of learning how to share his knowledge and teach other people how to sell by building up a team. He also talks about the difficulties of having and maintaining a team.
35 minutes | Mar 5, 2021
43. Who is Michael Bounds?
On this episode, Eric Forney asks Michael Bounds about who he is and how he grew his business to what it is today. Michael shares a few of his previous jobs he had before he discovered real estate when he went to buy his own home. The rep convinced him he could be good at real estate, so decided to pursue it. Michael explains how needing to beat out the competition motivated him to always be working. He discusses the obstacles he overcame with building a team, hiring people, leading people and creating clarity for his team.
40 minutes | Feb 26, 2021
42. The Entrepreneur's Guide to Apps
It's almost completely possible to run your business from your phone now, but which apps are the most useful for the entrepreneur? On this episode, Eric Forney and Michael Bounds share the apps they use most every day and how they improve their daily life. Eric discusses how YouTube is his source for learning anything and everything, and Michael explains how Audible helps him churn through books to gain knowledge. Michael breaks down how committing to using Zoom well has made it so he is able to sell real estate without leaving the house, and he can pack more meetings in per day than before. They also discuss the benefits of Slack, Click Up, Apple Notes, Google Calendar and more.
37 minutes | Feb 19, 2021
41. Do You Trust an Algorithm As Your Fiduciary?
What is the future of real estate and technology? In this episode, Eric Forney and Michael Bounds discuss Zillow's recent acquisition of ShowingTime, not long after their acquisition of DotLoop, and the repercussions this has on the real estate industry. They explain how the home buying process has friction in it for a reason, because it is a large, important transaction that has massive impact on the buyer and seller. While it might soon be possible for the consumer to book a showing immediately on Zillow, what that doesn't include is the filter of someone working with an agent, where the agent has qualified this person as someone interested in buying, and it's not a random person just being easily allowed into a listed home. They discuss how Zillow isn't innovating anything really, just acquiring companies in other service areas to real estate, and how it's so important to be at a company that owns its technology so your CRM and CRM data don't also get bought up by Zillow. They share all the work Keller Williams has done over the last 4 years to prepare for this shift in real estate where data and tech have become the most useful and combative part of the job.
38 minutes | Feb 12, 2021
40. The Death of the Solo-preneur
How will the solo real estate agent do in the new landscape of new technology and the on-demand nature of business? In this episode, Eric Forney and Michael Bounds share their thoughts on how they believe the solo-preneur is about to go extinct. They discuss how being a part of a team typically means access to the efficiency of systems and models, but sometimes the solo-preneur feels resistant to it because they want to do things their way. They talk about the benefits of working with different people, where you may be a visionary and could benefit from an integrator. In this climate where tech is going after all agents' market share, the individual agent is left being the one most affected, and sitting in that discomfort of that reality is the only way for the solo-preneur to realize they need to find a way out of it.
44 minutes | Feb 5, 2021
39. Why A Real Estate Investment Beats a Game Stop Stock Every Day
Real Estate to the moon! On this episode, Eric Forney and Michael Bounds discuss the unique situation that arose when a group of Redditors short squeezed Game Stop stock, and why, even though the short term gains of the stock are enticing, an investment in real estate still elicits far greater returns. They explain how the situation arose, and how hedge funds managed to make it impossible for retail traders to continue to trade the stocks, causing a loss of trust towards the stock market. Where stocks are income generating mainly based on speculation, and thus isn't a stable, predictable form of investment, real estate is heavily regulated and an extremely predictable investment. Michael and Eric discuss how short of random outside variables, buying real estate consistently earns you back 3x your investment over a 30 year period. While the allure of the possibility of making quick cash is enticing with the current stock market, there's no arguing the safety and guaranteed return on real estate.
26 minutes | Dec 25, 2020
38. Hindsight is 2020: What We Learned This Year
2020 was certainly not what anyone expected it to be, but that also means there was a lot that could be learned from it. On this episode, Eric Forney and Michael Bounds look back on the last year and discuss what they learned and what they would have done differently. Michael shares how having time to sit out on his deck helped him gain perspective on what's truly important, and how it could be heaven on earth if we all started acting a different way. Eric discusses how he created so many habits and routines around his environment in 2019, so losing that environment made continuing some habits more difficult. They discuss what was lost in only meeting people virtually and not physically, and how leadership had to change because of it.
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