After getting a sociology degree, he moves into finance. He then works on a few start-ups and has success. After this he forms his first big company and achieves a multi-million dollar net worth in his 30's. In every opportunity he got involved with, he had very little paralysis by analysis.
Key Points To Avoid Paralysis By Analysis
- Was always interested in making money
- Worked at start ups in the valley then started his own company at 31
- By 39 he had a net worth just under 5 million dollars
- Sold toilet bowl cleaners door to door as a child and made $800 in a little over a month
- Graduated college with a degree in sociology and religion
- Worked with a startup and helped them raise $8 million
- Started his own company to inform construction companies about new construction rules and regulations
- Mastered the art of getting to talk to the right people
- The 2008 housing market crash happened forcing him to find a different business model
- Avoided paralysis by analysis but taking advantages of opportunities
- Started doing bridge loans and was very successful because of them then the market shifted again
- Began buying and flipping houses but the market shifted again and he moved on once again
- Started working with a podcast Super Agents Live and managed to ride the early wave of internet podcasting
- Who is Your Success Role Model? Tony Robbins
- What Is Your Biggest Success? Successfully getting through a disastrous situation when he was managing his house painting company while he was attending college
- What Does a Typical Day Look Like for You? Wake up at 5:30 a.m., meditate, work, eat, go to the gym, spend time with his wife.
- What is our Favorite Quote? Alexander the Great, "Fortune favors the bold."
- What are Your Hobbies? Surfing, snowboarding, and skating
- What is the Best Business Book You Have Read? The Ultimate Sales Machine
- If There Was One Key Piece of Advice You Could Leave Listeners With About Achieving Success, What Do you Think It would Be? You need to bet on yourself and it's okay to fail because it's always possible to bounce back.
About our Guest, Toby Salgado
Toby got an early start. His first "business" was at age 9 when he saw a magazine advertisement selling toilet bowl cleaners wholesale. The ad said that the cleaners had a "double your money back guarantee". At first he thought of buying them and returning them for double his money but, after learning from his parents he couldn't do that he still wanted to see if he could make any money from this "opportunity". Toby had about $300 dollars and borrowed another $500 from his parents. He invested all of his lawn mowing money and the $500 dollar loan into toilet bowl cleaners. Toby went door to door and sold them all in a few months.
After graduating, Toby got a corporate job because he thought that's what you did. His first corporate job, he made a $28,000 dollar salary plus commission. He was selling equipment leases to growing companies. What? Toby went from making $50,000 working part time and now I was making $28,000 and working full time? Now he went backwards but, thought it was what you were supposed to do. The first year he was rookie of the year financing ISP's (Internet Service Providers). At the time he was financing probably 60% of all ISP's on the west coast. Toby did not let paralysis by analysis stop him!
Then, he quit his corporate job and started his second company–Allied Funding Group. It started by renting an executive suite–it was basically one room with a front desk girl with no windows. He started to do some deals but, was pretty bummed out. Toby realized that I couldn't imagine myself doing this same thing at 50 years old.
The rest of Toby's story can be viewed at his personal website, TobySalgado.com.
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- Rich Dad Poor Dad
- 4 Hour Work Week
- 10X Rule
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