What's up, everybody? I'm Chaz Wolfe Gathering the Kings podcast today. I've got Corey Reed on the Kings stage. My brother. How you doing? Doing well, man. Thank you for having me. Of course. It's a pleasure to have you. And, just like we were talking off stage, man, podcasting, you know, creating relationships, and, you know, just you just never know what happens from those relationships. So I'm excited to see where the relationship with you goes. Of course, I wanna get to know you better.
The listeners are here to extract your goodness today. So tell us what kind of business you got, brother. And a couple of business bad. Have a the foundational business was a residential real estate wholesaling company. So that's how I actually got my foot in the door in entrepreneurship. Yeah. The from that, we spun off into commercial real estate. I have a couple of funds that have acquired multifamily, mobile home park, and RV park, Nice.
Assets and then have a couple other spin off businesses surrounding a wholesale company. As you can see in the background here, we have a partners and profit division of that wholesale company where we specifically go and help other wholesalers scale their business up to, you know, 6 and 7 figures. Nice. We have a skip tracing company that we use to source all of our data from, and we also lend money at this point as well. So we got our hands a couple of a couple of different things here.
Yeah. I love that. We'll we'll talk about that a little bit because there's a difference in mindset. You know, there's a lot of people over the years that have asked me about being in different industries, doing different Kings, sounds like you're pretty similar to me where it's, like, a lot of things are happening at the same time now, but you took time to build kind of each thing and and and mold them together. It wasn't like you just decided to start 17 different things all at once.
That's right. Yeah. Yeah. Things have evolved and off of, if you have a good poor business, you know, there there's inevitably, like, supplemental products and things like that that form as a result for us, at least, as a result of the needs of our own business, a lot of these things were developed to suit our own needs and then other people, you know, that you meet along the way, They understand, okay. These guys are, you know, doing it at high level.
What are some of the resources that they're Kings? Then there becomes a demand for some of those things that you, you know, have as your, you know, for your own business. And so The wind up becoming, like, separate entities altogether. And that's kinda what's happened on our end. Yep. Exactly. I love that. We'll we'll get definitely get into Chaz.
Wanna know at this level, obviously, even before we were, you know, on the record button here, we were talking about that transition from warrior to Kings and and being in the daily to thinking a little bit more bigger picture and and team building. Obviously, you've got multiple divisions, multiple entities. You just gotta think a little bit bigger. So at this level of success, this level of monetary success, business success, I mean, you're in a great position. Why are you still pushing?
Like, what's motivating you, what's got you focused even at this level. Yeah. So for me, vision was always pretty big from the start. So maybe some people, the vision is smaller, and then they achieve it. And then maybe at that point, they have to change division and cut a regroup and and push for, but for me, I always knew that I wanted to build something, you know, pretty large scale right from the get go. So even when I started whole sailing.
I knew that the goal was never to, you know, just have a wholesaling company. I I knew right away that from that, I wanted to you know, acquire a large portfolio, a step into the private equity space and make that really the, the fundamental thing that we went after. So you know, it's just, like, I feel like it starts with your The and that why Kings of expands as you grow. You know, for me, the why started with I need to get my cell out of poverty and take care of myself.
And then once that's achieved, now we can look at our immediate circle immediate family, you know, making sure that my that my mom doesn't have to work anymore, things like Chaz, and that that that It just the vision just grows and grows and the the y continues to grow as you achieve more and you continue to push the envelope. So that's basically where on that now.
I've achieved that that kind of 1st level of of success where, you know, obviously myself, I'm financially free, my family, financially free, but now it's like, how can I continue to push the envelope forward so that Gathering more people than just my immediate circle? How can I make an impact on a larger on a larger scale? And and it's sort of where I'm at at this point. I love it. Do you think that or maybe what was the moment?
Because obviously The was, at some point, some sort of a transition from going from, like, okay, I'm gonna do a wholesale deal, like, oh my gosh. This is possible to Yeah. Well, I could get rich doing this to then, well, I can have a company or maybe there's multiple companies to Chaz help my family. I can help more people. Like, at what point did it turn from you, your family to this more impact that you're talking about, this kingly perspectives?
Yeah. You know, I I don't know if there was really a definitive point for me when the light bulb went off to, like, hey. This could be bigger than just me, but I had saw a lot of a a lot of companies and and things like that before I even got started that were already doing those days. And so they're Chaz was sort of what I wanted to strive towards before I even, you know, started doing anything on my own. You know, when I did the first wholesale deal, it was, like, literally you know, hey.
Like, I need to do this so I can put, you know, food on my plate. I was not in a good place whatsoever back The, so I it would further state for my mind was being able to to help and get back. But the cool thing is, man, is that as you go along, you meet people along the way who are a higher level than you or who are at that stage and they are giving back.
And so not only do you see that it's possible and and that it's, you know, it's feasible for you to be able to obtain that, but it gives you something to push toward, and it just makes it more just makes it more real. You know, when you actually meet these people along the way who are doing that and you're able to form these different connections and kinda see what's really possible for yourself. So Sort of where I'm at at this stage in the game.
It's like I built, you know, what I built to this point and have a certain level of success in taking care of the people that are important to me, but now it's like, man, you get on some of these shows. You meet some of these people or you're at an event and you're seeing somebody who's, you know, managing 1,000,000,000 of dollars and they're They're just giving back in a big way. They've started a foundation now. They're really giving to, like, causes that are important to them.
Yeah. And you're like, wow. This is something that's really doable. I'm on the same, you know, track as as what they've built, and I really like it brings it home for you. It's not like, a dream anymore. It's like, The. If I continue to do what I'm doing and I, you know, continue to do the right things, I'll be able to put my self in a position to do that. And maybe your cause, your why is not the same.
Sure. Is theirs, but all the same, it becomes like a reality that, you know, what I believe is important to me. Like, I have actually have the ability to go and and make an impact, in that. So pretty good. 100%. Let's go back into your story a little bit. Tell us how the first deal went down. Why wholesaling? What were you doing before? You said poverty. What what's the what's the good news here? Oh, man. Yeah. I could speak on this all day. So, yeah, hi.
You know, I came from a a a family where which is very non financial savvy. There was never conversations about finance, entrepreneurship, and my background was really in, like, x science, sports, things of that nature. That's what I went to. I went to college board and I went to college on a track and field scholarship. Nice. Getting yeah. Yeah. Your runner? Are you a jumper? What what would you do? Chaz was your what was your day? Distance runner. I was a miler. Uh-uh. So we was so far.
I'm 65. No chance I'm running miles. Now you give me a jump over a pole at any good day of the year. Oh my god. Yeah. I could imagine it. You prob 65. You gotta have some you gotta have some hops. I would hope so. Right? Donk on us over here. Exactly. That's awesome. But, yeah, so I I went school for Chaz, and that's sort of, like, where I was at.
I had no knowledge or vision of it's like I tell people, you know, I was literally, I think, 20, you know, twenty six years old before I really felt like I understood what a mortgage was. You know? So I just the lack of of financial education and just life skills, I feel like, is just a huge you know, there's just a lack of it right now in this in this country.
So what wound up happening to me is that I had moved out to to Los Angeles and was pursuing exercise science, like, strength conditioning work, you know, at an internship with USC and then the Rams. And so I was Wow. I was doing, you know, I was doing alright for myself, man.
I was trying to build a a career in that and then very quickly realized through travel and hours associated with The amount of time that it takes to make any, like, level of of money in that industry that that was just not gonna be for me. Yeah. Fortunately enough, while I was out there, I was living with a guy who was a engineer at NASA at the time, and he was Yeah. Extremely smart guy who's now my business partner today, but he, one day, was just like, man, you know what?
We should start a we should start a company. And I'm thinking in my head, like, what? How about how would we even do that? You know, I Yeah. At that point in my life, my association with a company is an invention. So I'm thinking, you know, I have to be able to go out and invent thing that the world has never seen to be able to, you know, monetize it turn into a company. Interesting. I'm yeah. So I don't know that any of these things are are companies. So long story short, I wind up.
He suggested we use something in real estate, and it just really piques my interest. So now I'm, yeah, I'm on the I'm online. I'm watching podcast, you know, a bigger pockets. I'm I'm going and, you know, going to fortune builders, events. And, you know, I wanna flip houses and all these things. And so I'm in Southern California, as I mentioned, and I determined that this that this is not a good area to be doing this.
From all the research I've done, all the people I've talked to, it's like, hey. You don't wanna start out in Southern California. And so I look up The places that are good, and one of the places that come across is Philadelphia. And my aunt at the lived just outside of Philadelphia. So I decide, you know what? I'm gonna just Yeah. I'm gonna get rid of everything, move back to Wow. Philadelphia, and I'm gonna try to start flipping houses. Chaz very quickly went sideways.
I wound up living in my aunt's basement. She was pregnant. Was not really a good time for me to be staying with her. Right. Didn't wanna give up on the dream. I wound up, you know, I was completely flat broke. In a hostel way to Philadelphia, you know, scouring the city, trying to be able to to do my first house flip. And What wound up happening is that I was just in such dire straits at that point. I just I really needed a a job.
So some sort of like sustainable income wound up doing some door to door sales, which asked me into a sales position with CoStar, which I don't know if you're familiar with them. Yeah. Yeah. For the listeners, anybody who's not largest provider, commercial real estate data in the world, And that was, like, my foot in the door into the real estate world.
I'm able to start connecting with brokers, with owners, with vendors, and in that same path, I decided to pursue wholesaling as a Kings of a quicker option and less risk, you know, more risk averse option to enter the real estate market. Yeah. We wound up doing our first deal started. This whole process tried to the 2017 surge phase and, you know, all the things I just mentioned. And then by 2018 of April, we did our first deal and it was an absolute nightmare of a deal.
It was the worst deal of my life still to this day, but we got it done and we made 10,000 bucks. And then took all that money, put it back into market, and use that to, what, to scale the company. Wow. I mean, I just the from the tidbits there, I mean, there's so many different we could go. The number one thing that I heard you say that I'm sure every listener can relate to to a degree is that you made a decision and you you personally moved across the freaking country. You know?
Stopped everything, stopped your career in in in fitness and or you know, science, it's like, you took a hard left turn. Betting on yourself. Would you agree with that? Yeah. 100%. Man, if I'm gonna I'm not a gambling man, but if I had to gamble, I'm gonna bet on me. Yeah. 100%. Do you think that that was innate? Did you learn that? Did you read that in a book? How did you like, in that moment, when you're like, okay. I mean, cut, like, let's break this down for a half second.
Moving across the country, moving in with your pregnant aunt. You have no source of income. Like, yeah. Chaz was for all intents and purposes, a pretty crazy move. How did you how did you have the gumption to do that? I had been there before. You know, it wasn't my first time in that position of not having anything. So I feel like almost being in that position before gave me a little bit more resilience in fear to wind up back there, but still What's the worst case scenario? Right?
You already know what it is. Right. You know, but but I think more so Chaz that is that I just have a belief in me. I know that I'm I'm marketable, that I have a skill set. I have, you know, certain level of of you know, intelligence and wit and just personability that I can make myself marketable and get into a job if I needed to. So I sorta took that with me. And and like I said, mind you, to this point, I had no career, no experience in sales. You know, was physical fitness.
I had been a personal trainer. Had been, you know, intern in strength conditioning in some, you know, corporate fitness environments, but never done any other, you know, position in in sales or finance or anything like that. So this is just like the belief in me at this point that, hey. Like, I can go and do this. And so I knew I needed to hit the job market again because I was in a position where I was negative in my bank account Chaz Yeah.
I do not wanna get back into the whole physical fitness realm of Kings. And I started to think about, well, what are some of professions that I can bring in some quick cash and that can put me a pad or, like, put me in the path to get to where I wanna go, which at this point, I still know that where I wanna go is I wanna launch this wholesale company. I wanna get into real estate, and I'm not letting that go.
And so it was like, sales, I think, is a great position for me that I could work with a variety of different companies. I can speak to people. I can pitch products. And, you know, it's kinda right. Then it's just a matter of, you know, tweaking your your resume and getting in front of people and then being able to show that Hey. I'm gonna be a valuable asset to your company.
Here's why here's why you should give me a shot of the position and, you know, that's that's sort of the route that I took, but it it really all came from just a belief in me.
If I Chaz didn't have that belief in me Chaz I was gonna be able to make that happen, then there's no chance that I go and make that move uproot my life and and what I had going for me at that point, which is what I think a lot of people fear prevents The from really taking the leap and going after what, you know, what they truly desire or what they, you know, they know in their heart is is what they want.
Yeah. You know, and that's that's the point I was gonna extract from this whole interaction back and forth here for the listener is that if There's obviously a certain degree. If they're listening today, they're a 6 figure business owner, they just haven't hit that 1,000,000 mark yet. There's some sort of belief that they have in themselves. They've taken a beginning of a chance Maybe they've been in business for a while. I don't know.
But the reality of it is is that I'm trying to give them permission through your story right now because that's really what you gave yourself. You gave your permission self permission to fail and succeed. In that moment, when you took that hard left turn and fully betting on yourself, you went all in, And you said, okay. Well, worst case scenario, I fail. Okay. Fine. Well, what does failure look like? Well, I go get a job. I I build up some cash reserve, and I probably do it again.
In fact, the first 200 recorded episodes of this show, my last question was, to the guest, what would you do if you lost it all? And every single one of them said, I'd do it again.
And so the confidence that you and I have today Chaz the previous 200 something guests have had The I'm trying to instill in a listener right now is if you only knew what we knew, which is, bro, if I lost it all or in your case, Worst some worst case scenario, I'll just go get a job or get get a sales career or something until a period of time, and then we would just do it again.
Chaz is a level of confidence that allows you to go all in, not necessarily just for success, but it also gives you self permission to fail because what happens if you fail? Cause guess what? You're probably gonna fail along the way. What happens if that happens? You bet on yourself you do it again. It's no big deal at that point. It removes the risk. It removes the The the the heaviness, like, you're talking about, would you like to add anything to that?
You know, one thing that I will add as well is that you don't start back in 0. If I were to fail today, I don't fail back to where I'd first started. Right? I've now at this point accumulated, and if you're doing it right, and I feel like if you're get to any level of success, you have no choice but to have accumulated relationship capital. Now you have all these different relationships with people that, you know, you didn't have when you first started. Right?
The only thing that you really don't have if you went back to complete square The is money. Right? If you lost all your money and you were back to 0, the only thing that now you don't have is is money. You still have the relationships. You have the knowledge, the education, you have the infrastructure. You you just you have this skill set now that nobody can take away from you regardless of how far you fall.
So The acceleration, you know, if I were today, wholesale becomes illegal, and that business is just wiped off the map. It doesn't matter any Right? Because there's so much more that I learned through going through it building that business than just how to wholesale a house. Yeah. So I can take those skills and I can apply them any business in the marketplace today, and I'll be rewarded for it. So that's one thing that people also have to realize that you never just fail back to nothing. Right?
You you know, The stuff, you know, you accumulate a lot of knowledge and relationships and just stays that are gonna help you out in your life along the way. So I feel like that's why every successful business owner that inevitably failed along the way. A lot of them wound up getting to a a really high place because they didn't fail back to 0. Yeah. I wanna get into some of your decisions here before I do that real quick.
Based on what you're saying here, I just it it's very similar language that we use in promotion for the the mastermind group inside of Gathering The Kings because What we've done is we've removed the X's and the o's. I'm sure as a wholesale, you're familiar with, you know, wholesaling masterminds and real estate masterminds and there's Yeah. Masterminds for electricians and and you name it. Right? Right?
But if you remove all of the X's and the o's, the only thing that you have left is what you just said. If if you took away my wholesale business, what would I do? Well, you would use your Gathering skills, your sales skills, your mindset, your team, building skills, your leadership, your all of these Kings. To go build another business. And so by removing those things inside of Gathering of the Kings, that's those are the things we get to talk about, which truly matter.
Across all different types of industries, we're bringing people from all different places just like we do with guests because you talking about wholesale, guy listening to right now who's electrician, it still is the same principles that are gonna make him successful if he applies what you've done. Hey, Chaz Wolfe here.
As many of you know, I have been on an absolute mission to help entrepreneurs from all across the country in many different industries, level up their game and grow their business, and intentionally connect with other entrepreneurs. We do Chaz, obviously, through the podcast, but We also have a peer to peer mastermind group specifically for 7 to 9 figure business owners.
We are bringing some of the best and most successful entrepreneurs and minds together in a regular and super intentional way to not only grow our network, but to be able to leverage And at a certain point in business, success becomes about leverage, leveraging time, leveraging resources, leveraging key relationships, The is exactly what we're doing inside of the peer to peer mastermind group called Gathering the Kings, specifically for 7 to 9 figure business owners.
So if that's you, if you're ready to level up your 7 to 9 figure business, even to the next level and get around other big hitters just like you, I want you to go to gathering the Kings dot com, fill out a short application, and, it'll come to an application, call with me and I wanna chat with you to see if it might be a good fit. Talk soon. So yep. Let's go into your decisions.
I wanna know a good decision that you made, Corey, along the way, maybe early on, maybe for his hit that first 1,000,000, that you can look back and you go, okay. That was, like, a, you know, pivotal moment, a good decision that I made, maybe something that the listener can replicate. So the first good decision that I made was just the decision to get into business for myself to begin with, and we've already now kind of covered what that looked like.
But if had I not done that, my life would would literally be completely different than it is today. So Chaz is the best decision that I feel like I've made so far.
Another great decision is just I feel like that decision that I made even before I made the decision, right, I told you that when I started Wolfe, that I knew wholesaling was not the end all be all goal for me, that I wanted to be able to get into the private equity space I knew that before I did it, but then the decision to actually do it has been another phenomenal decision that I feel like I've made in my business career because it's now given me
The economies of scale, and it's sort of an infinite ceiling in terms of what I can do in business. And I don't foresee that going away anytime if ever. So that's just another, I mean, there's a lot of decisions that it, you know, happened throughout my business career.
Some it's some bad But if I had to say that there's any two things that have really propelled me to the level that I'm at today, it's the decision to start in business and then the decision to get into private equity, you know, once I had established my business.
And the only other thing that I would say is a good decision was that the The decision to really, like, put my head down and build a business as opposed to, 1, having shiny objects syndrome and trying to get all these different days, all too early were to the, you know, try to be a guru after I did my first deal, which is what a lot of people inevitably do.
They have some small level of success and instead of using that and building on it and actually going out and putting in the work want to immediately transition into trying to teach others how to do it, and they get into all these different things and their business really never scales. So we did the opposite of that. It was like, The. Until we're really in a position where we feel like we're absolute experts at our craft, and there is just a real need to give back at that point.
You know, we're not going to step into that space until it's it's There's really a need there for it, you know, and not even a need from others, but a need from us, like, where we felt like, hey. We've really done something special here. And now let's tell other people about it. And so that's why I've been very much like a ghost. I think they'll, you know, that's pretty recent, you know, pretty recent time. Yeah. I love that that focus.
I think that everybody listening here today should take that away. I was even just talking about some something similar to this to someone a few days ago, I was talking about the difference between focus and discipline, and a lot of I know discipline. I know discipline. You're not gonna out discipline me. Yeah. But focus focus is hard, man. Focus is hard.
And so I think that what you're sharing is so valuable, especially for the listener right now, who hasn't been able to get to that specific point in revenue. It's not always just about revenue, but that is a measurement in business. And so you have to be able to just have a persistence for a period of time, the discipline persistence, and then the focus to be able to just right here. Let's look just right here. Disciplined not to move, the focus to stay right here. Just right here.
And so I think that you're, you're offering tons of value already, even though you're just coming out of the The, as you say. So let's flip the coin. Tell me about a bad decision, man. Something that you're just like, oh, I can't believe I did that, but it, you know, maybe it saved some time for the listener. Yeah. Well, here's one thing. If you're it doesn't matter if you're in a business in in anything at this point.
So We had actually up until recently a number of different physical office locations that we recently closed down, and To to give you the long story short, Wanna Poste has a ton of money. For one simple reason, we did not have and, like, any sort of exit clause in those leases, and we signed personal guarantees. Wow. So, yeah, we probably lost in total, you know, 100 of 1000 of dollars in those office locations because of the COVID environment that happens.
We started to have to compete with large players that went virtual and started recruiting in our marketplace. There was a stigma that had and people wanted to work from home and to be competitive, you really had to, you know, offer that that solution, which we didn't at the time. And so It just made sense when we finally all realized The. It made sense that we really need to command more of a virtual presence and what we were doing at that time.
And if anything, we need to really consolidate our our office, our eight person presence, and that cost it wound up costing us a lot of money for those two specific reasons. So I know that having an office is sexy. You know, people want it. They they feel like they need The to be credible.
Maybe in certain instances you do, but for what we were doing and for what probably a lot of people are doing, it's not necessary, and it's more so that you want to be able to show off and impress somebody and see, like, you're you're more credible. And that was a lot of the reason why we you know, why we did it. It wound up just really costing us.
And so if I had it to do over again, I would if I did get the offices, I would make sure that I had a clear exit clause in the lease that there were stipulations that if I wanna break the lease and get out, I can do that and that I would not per I'll never per definitely guarantee Elise again in my life. So Yeah. Hopefully, that's something that some listener on here is is considering or going through.
It winds up you know, changing the trajectory and their and their decision making process, and they save some money. Yeah. It's funny with the personal guarantee. A lot of times at the beginning, you to because you don't have any credibility. You don't have any history. And so, I mean, I've signed my name personally on a lot of stuff over the over the years of doing multiple business and in different industries and states.
However, I'll tell you a lot of times, people don't realize that they ask for it out of out of routine. Right? At the end of the contract, here's the personal guarantee. We don't think of it, so we sign it, and then that's the end of it. As opposed to saying, Hey. I I need this revised without the personal guarantee. And they go, oh, you don't wanna do that? I go, nope. It's under my business, and the business will take care of it. And and then a lot of times they go, okay. But poof.
Sure. Yeah. You don't know if you wanna mess. Sounds. You know? Yeah. I mean, back then, I didn't know. I didn't even think to like you said, I think twice. I just signed it, and then it came back to bite me. So, you know, in the future, I will try to rely more on the business and, you know, you can't get too roped into just one option either. You know, we got, you know, really facet with a certain space, and then it was, like, you know, do or die on that space. So I would not do that again.
I would keep my options, you know, more open to find something that really suited the need and that get away with not having to, you know, sign those guarantees and just Right. But sometimes you get boxed in and you really want something and so you're willing to kinda go out on a limb for it, and and we'll do that again. Yeah. Yeah. Keeping that emotion out of those business decisions.
Is tough, but you're so right because if you can practically look at the solution, does it get you what you want? Not what you want because you wanna be sexy or the new fun flashy thing, but practically, does it grow the business? Does it get does it get you what you want? So you're giving such good stuff here.
Tell me about a process, or maybe if it's a decision making, like, steps that you take now, that you've Kings been through all of this in a couple different businesses now, How do you make decisions Chaz come across your desk? How do you make a decision nowadays? So right now, we really look at the risk reward. Whereas in the past, we were willing to take a lot more risk up front. Now we're very strict on a risk on a risk reward standpoint.
So very recently, you know, we had a deal came across where we're gonna have to put a lot of money forward very early on, and we weren't sure if we would be able to raise the money to get the deal done. So we have to look at Hey. Based upon our equity stake in the deal, you know, and the amount of of monetary risk that's involved with this, what is the reward outcome look like for us if all goes well versus if we, you know, screw up and we lose, you know, all that that money that went hard.
And so, you know, we have to look at that stuff. And I have to look at, like, well, if I place the money into something else or into marketing, like, what is the expected return that I could get on that money versus taking the risk over here?
And so we've just Kings formed, like, pretty clear parameters for us now as a result of some of the failures that we've had guidelines in terms of you know, how much money we need to keep on us at all times and and the risk monetarily speaking for different opportunities that we're, you know, constantly coming across versus the the risk of what happens if we we fail.
That's sort of like a big part of our decision making process at this point, but it all came as a result of, you know, past failures. We we literally will write down all of our our, you know, quote unquote, you know, screw ups. So every time something doesn't go as planned or we, you know, we we fail on something, we have, like, a a spreadsheet going down that we can refer back to. And if we wind up in a similar situation, You can literally go back and look at it. You're like, hey.
We were in this situation before. Here's what happened. Has anything in our our company or our our knowledge base or, you know, anything that's gonna potentially take this in in a different direction this time to where we could actually feel comfortable making this decision that screwed us over the last time, or should we just look back to our prior mistakes? And, you know, it keeps it front of mind.
If you don't have those things in front of mind, do you tend to continue to make the same mistakes over and over again? Yeah. No. You're a 100% right. I loved how you gave a very practical use of creating a spreadsheet or some sort of a tracker. I think that a lot of people try to remember those things, but, man, it's tough to tough to remember the detail. A lot of times, we remember that we remember the emotion of being frustrated, but, well, how how do we not repeat the same outcome?
And so I think Chaz you're giving great stuff there. Let's switch over to the speed round. I wanna come to you at a little different angle here. My first question, the speed round, is a little bit about tracking. So we're kind of on the same line here. I wanna parlay right into this. If you could only pick one thing to track. You've got different businesses, that's fine. Across all businesses, You're gonna pick The metric to track forever and ever if it was dwindled down just to 1.
What would it be? As I now evolve into these different businesses, I think it would probably be BLTB or life lifetime value. So the lifetime value of the customer is something I didn't understand early on, especially, you know, you get deeper into this marketing game and things like that. I was very used to in the wholesale space Kings able to spend money and immediately recoup that money and continue to cycle forward.
And as you get into different product services industries, you very quickly realize that the immediate return on a customer is not the same as the lifetime value of a of a cluster or so. Right. And it just it it drastically impacts, like, how you conduct your business, where you spend money, how you market, how much you spend on market. There's just so many things that go into it.
So I think if you can really understand The you a lot of different things you could track and a lot of things that are important, but the lifetime value of the pest here for me is extremely important. It ties into a bunch of other Kings. So that's what I would say if I had to absolutely pick pick 1. Yeah. No. I I love that answer. I think that you're right. I think that it it's more applicable today than ever before war because we've got educated buyers. We've got educated clients.
And you can sell one thing to somebody pretty easily, actually. Yeah. But you're gonna have to keep doing that over and over and over if if there's not real value there or if you're not putting, like you said, the money time effort into the fulfillment or the experience of what you're offering and which then is in the retention tool. So I love what you're saying there. I think that's applicable to every listener out there today. How how they think about the front.
And you got you still have to have an acquisition tool. Like, you still gotta go market. You still gotta get new clients. Yeah. You never stop that. But, man, how do we keep? How do keep more of those into a a second project or into a second year of a mastermind, or how do we how do we how do we provide such an amazing experience to where people want to continue to do business with us. I think it's what you're saying, which is weird. No. It's a 100% true, man.
And and you're gonna have numerous touch points on a person that's gonna tie it and you're gonna have Ascension, you know, once they become a client and trying to send them to, you know, other products and services and So there's just there's so much that goes into it. And, you know, it's just extremely important to know kind of what the lifetime value The of your customers actually is, especially Chaz the your business moves forward and forward. So Yeah. Yeah. For sure.
You tend to send you tend to see people as people when you slow down enough Wolfe, first off, the money. So that's business owners. Right? If we know that the money's in retention, if we know that the money's in a a a higher LTV, The selfishly, we slow down because that's what we're attracted to Chaz the money. Yeah. But, simultaneously, because you slow down to try to provide a better experience, you actually become better person. You see the people for who they are.
You provide an actual better experience for humans because you start caring. It has it has weird effect. Exactly. Okay. Rory, what kind of book would you recommend?
A 4 or 6 figure business owner trying to get to the 7 figure If you're already a 6 figure business owner trying to get to the 7th figure mark, I would recommend scaling up two books that absolutely love his traction, and The its counterpart, a scaling up, which is kind of like the traction is like your, you know, your if you've never read traction, you're a 6 figure business owner, I would still start there because it's
just gonna give you such incredible foundation and things to focus on in your business that will inevitably help you to to to scale it to the next level. And then once you've really implemented a lot of those those EOS foundations, then scaling up is just how do we we take this to the next level.
So it's another one of those Kings of loaded questions where there's about a million different books that I could forward on to you that are gonna be, incredible business books, but that's one that I really firmly believe helps people develop, you know, clear systems and processes, places great importance on those Kings, and this gives you, like, a very clear path of things you can do that will propel your business forward, you know, to that next level. 100%. Love it.
What do you think about intentionally networking or masterminding with other entrepreneurs. I think it's literally the best thing that you can possibly do. I it's It's one of those things that there's just a non quantifiable, you know, outcome up front.
And then if you do it long enough, you to look back and see the exorbitant amount of money that you've made just and just The the way that your life has changed just through these different relationships and of the the knowledge experience that you've gotten through it. It's it's yeah. I can't say enough good things about it, and it's one thing that I, you know, try to do a a lot of.
It's just get out and meet as many people as possible, connect with as many people online as possible, attend as many events and masterminds of horses and and events that I can because you know, the the connection that you make are are really invaluable. Yeah. I love the one distinction that you've made that I haven't had really anybody ever.
Say quite before is not only just, of course, the relationships and what that's quantifiable to eventually, but that it's not quantifiable up front, and that if you just do it for a period of time. A long period of time is what you said. What is a long period of time for you? How long can you look back is Is it 90 days? Is it a year? Is it 5 years? I'm sure there's plenty of examples in both of those, but what would you say? I can look back to when I literally got started in business.
There's there's relationships that I have that I I literally made when I first started business that are bearing fruit now, and we're talking about back in 2018. So that's why I think it's another thing that it's just it's hard to quantify because these things sometimes just take so long to blossom.
And, you know, maybe you wind up doing things along the way, but, you know, before it, you know, if you wanna quantify, you know, in a monetary value, Sometimes it can just take a long, long time, and it's it's also tough too because maybe that person connected you with someone else or gave you a piece of advice that you The up using, and then that resulted in some sort of monetary gain.
So it's it's tough to quantify, but I Chaz look back over these last 4 years and tell you that through specifically relationships that I've made through masterminds Gathering events, networking with people online. Whatever the case may be, I have met a lot of people who have changed the course of how I do business or gave me a piece of information saved me a lot of money here or made me a lot of money there.
And so it's just while it's tough to quantify, if you do it for long enough, it's It's absolutely you can't ignore the fact that it's helping you in a lot of different ways. 100%. Okay. Last question. I already told you what I used to ask people as far as if they lost it all. So I'm not gonna ask you that one, but I am gonna ask you if you could go back to your younger Wolfe.
Maybe before you got started or maybe as you're getting started, what would be the one thing that you would whisper in your ear and to say to do maybe differently or to do instead, what what would you whisper in the younger Corey's ear? Start earlier. So that's the one thing that I regret is that I didn't start sooner. I didn't know what I didn't know, but If I had started even just a couple of years earlier, there's no telling where I would be today.
So I would tell my younger cell get get off your ass and get start start start sooner. That's where I would where I would go with that. I love The. Love that can the listener find you? Obviously, you got you got a wholesale company. You're you're in the private equity space. Like, there's a lot of reasons why someone listening today would maybe wanna connect with you. How can they find you? So easiest way to find me is gonna be through Instagram, probably, like, the main channel where I'm on.
My my handle is Corey Charles Reed, like, my full name, c o r y, Charles Reed, r e e d, or they can email me at Creed, c r e e d, at Moirai Chaz. So Moirai is m o I r a I, and then Chaz like capital. Perfect. We'll put all that in the show notes as well. So that way people can easily find you, put your your quotes and your book recommendations down there as well. You've been an absolute stud. Here today. Any final parting thoughts on on the on the Corey Reid? No, man.
I may just thrilled to be on the show to get a chance to meet you and get some information out there to your listeners. Hopefully, some of these people are able to resonate with what I've said or take a piece of information, apply it to life in their business and and make an impact. So Just appreciate you having me on the show, man. Thank you so much. You've been incredible. Thank you for being here. Blessings to you, your family, your team, your businesses. All of it. Thanks for being here.
Alright, brother. Thank you. Thank you for listening to Gathering the Kings today. I hope that you were able to pull out a few nuggets to go apply into your business right away. More importantly, though, I hope that you're realizing that it takes more to be successful than just being by yourself Kings it all on your own, carrying the weight all by yourself.
What I have realized, not only in my own journey from multiple businesses and multiple different industries, and now interviewing over 2 or 300 The very successful 7, 8, and 9 figure business owners is that it's tough to do it alone. And so gathering the Kings exists to Kings together successful entrepreneurs. In fact, we are putting together 1000 Kings, specifically who are grateful, but not done.
We're intentionally assembling kings who fight tooth and nail for their business, family, and communities, and here's what we believe Chaz in the pursuit of excellence in those areas, that it ignites within us the responsibility to govern power and forge a lasting legacy. So if that relates and and resonates with you, and you know that you need people around you sharp qualified other very successful business owners. I want you to go Gathering.
I want you to take a look at what we're doing and see if it makes sense for you to be part of our pursuit to 1000 kings. Talk soon.