[00:00:00] Speaker A: Is success about making the right move or having the courage to keep going until you do?
[00:00:07] Speaker B: Ramping up your business? The time is near. You've given it hard. Now get it in gear.
It's Passage to Profit with Richard and Elizabeth Gearhart.
[00:00:18] Speaker A: I'm Richard Gearhart.
[00:00:19] Speaker C: And I'm Elizabeth Gearhart. And we're your hosts.
[00:00:22] Speaker A: Welcome to Passage to Profit, the road to entrepreneurship. Today we have Scott Harris, founder of Magnetic Real Estate, who's helped drive nearly 2 billion in new York property sales. And he's also a national bestselling author of the Pursuit of Home, a real estate Guide to Achieving the American Dream. And he'll be discussing the emotional mistake that can turn your dream home into a costly regret.
[00:00:49] Speaker C: And then what does it take for a teenage father with no safety net to. To become a top industry CEO, real estate investor, music label founder, and author of More Than Just Luck? Well, you're gonna find out. Cause we have Greg Weir here and he is going to reveal how relentless resilience turns setbacks into a stronger comeback.
[00:01:12] Speaker A: And on top of all this, we're going to unpack how stolen AI secrets led to a federal conviction. But before that, it's time for your new business journey. We'd like to ask our panel, when you look back, what was the one decision or moment that most changed the trajectory of your business? And what did it cost you to make that decision? Scott, welcome to the show. Tell us about the decision that changed the trajectory of your business.
[00:01:39] Speaker D: I think the biggest decision I made, as you can imagine, you start out in real estate. You start out at one shop, then maybe move to another. But about four years into my business, I made a move to the third shop that I worked at, a big box brokerage firm. And we took over marketing a big building on the south side of Madison Square Park. This is where the Statue of Liberty was put together, all the pieces of the Statue of Liberty. And I moved to this new company and I took over working on the sales office for this big building that was a $350 million sellout. And it ended in a huge blow up. The developer went belly up. They had to sell the building to the next person. And I learned so much in that one year that I worked on this project. Both the things that my own greed, the greed of a developer, all of the deal making that we did, it set me in a direction that really opened my eyes to everything I did since then.
[00:02:37] Speaker A: Well, thanks for sharing, Greg. Welcome to the show. What was the one decision you made that changed the trajectory of Your business.
[00:02:45] Speaker E: Early on in my career, as I ventured off to my own business, there was like five of us as partners into a ten million dollar year business. Well, because we found out with that size of revenue, I'm making a lot of money. And everybody had their own agendas. So really, really early on, probably five years into our business, my partner and I at the end decided to eliminate three of them. Buy them out.
[00:03:10] Speaker A: Oh, you buy them out. Not like, not use mafia tactics like that.
[00:03:15] Speaker E: No, but. No. And my best advice anybody since that time is stay away from partnerships. Because what I found out with my partner at the end, when I sold a large company in 2022, for all intents purposes, his life changed four or five years before. So our revenue continued growing.5 or $10 million a year and he was enjoying life while Greg sat back and worked. So at the end, way to split the profits equally. So as I venture into the alarm business, we're in the process of buying his partnership out now because it grows AI.
We're popular, we're big. But at the same time, I'm not interested in doing it again to make somebody else rich. So any. My best decision and worst decision was partnerships. Getting them and getting rid of them.
[00:04:01] Speaker A: Yeah. Interesting. And it's tough to unwind those too. Elizabeth.
[00:04:05] Speaker C: Yes. So in 2010, Richard and I bought a building for his law firm and it has two stories.
And after Covid, well, everybody cleared out, right. And we're like, well what should we do with this building now? We've got 4,000 square feet. And I'm like, nobody's coming back, right. Richard goes in every day on one attorney and we have a halftime paralegal. But nobody wants to buy commercial real estate because nobody's going into work.
[00:04:31] Speaker D: Right.
[00:04:32] Speaker C: So we decided to make the top half of podcast studio. We had been using it to do this show actually from Richard bought all this fancy equipment. So we had like this high end equipment and we decided to turn it into a podcast studio. And that's the business I'm running now. And it's kind of a little slow because the stars are aligned against me. They keep shutting down the roads in front of our buildings. Nobody can get to the studio. But I do have clients that is building and it's fun.
[00:04:58] Speaker F: I love it.
[00:04:59] Speaker A: Well, for my transition point, I think a huge transition point in my career was when we started doing the radio show.
And it's kind of a decision put yourself out there in the public, which I had been reluctant to do for a long, long time. I'm mostly an introvert at heart. So taking a step out there and putting myself out in front of other people was transformative for me. And I think in the long run it's helped me a lot. I think it's given me confidence that I didn't have before. So my point and my lesson is get out there and do some things. And if you are able to put yourself out there through podcasts or blogging or whatever it is, you'll evolve and I think you'll appreciate the results of that. So, so much for your new business journey. Now we're going to turn to our guest, Scott Harris, founder of Magnetic Real Estate, who's helped drive nearly 2 billion in New York property sales. And he's also a national best selling author of the Pursuit of Home. What if everything you've been told about buying and selling real estate is backwards? Well, Scott Harris, founder of Magnet Real Estate and architect of nearly 2 billion in New York City property sales, says most people are chasing homes the wrong way and they're paying for it. So, Scott, tell us, how did you get started in real estate in the first place?
[00:06:26] Speaker D: Getting started in real estate really began long before my professional career began. My father is still in commercial real estate. He's a landlord. Where I grew up in New Orleans, my mom was the marketing director for a big a franchise of a big national real estate firm. So I grew up with real estate right around the kitchen table, both from the sense of learning about all the deals coming together on my mom's side and with my dad just how to run a business, all the craziness of tenants at the same time. My parents were divorced. I was going back and forth, back and forth as a kid. I didn't think about it until I really got involved in real estate years later.
And as I helped people find homes, I realized something was happening to me and I realized I was kind of healing the wounds of a broken home as a kid. And when I finally realized that, it was like this light bulb went off. And I just was able to bring a lot more compassion to the process of what people actually go through when they go to buy a home. It's very different than what people see on tv.
It's very different than what people think. It's not. It's much, much more than just the transaction, that's for sure.
[00:07:35] Speaker C: I know we want to dig into that, but before we do, I want to go back to what you said. How did you get the revelation that you were trying to fix what went wrong in your Childhood. Because the reason I ask is so many of us are held back by the trauma we endured as children. So how did you come to that revelation?
[00:07:53] Speaker D: There's something so satisfying about helping someone find a home. I mean, sure, salespeople and the deals and the rush of all that, but it was something much deeper. I really, I want to help people. I want to understand what makes people tick. That's always what I've loved. There's something about every person that makes them interesting and great. Everyone has a story, and I'm like a bartender. If you sit next to me, odds are I'm going to learn a whole lot of cool things about you. Because I just kind of want to listen. And at some point I'm like, you know, I'm doing something that's much bigger than a real estate deal. It felt like it was something sacred, honestly. Like I'm a part of their lives. I'm baked into their lives forever. And as I sort of unpack that maybe seven, eight years ago, I started to really think about it. And that realization of what we're doing, that was helping me.
It allowed me to be a lot more vulnerable with my clients and be more real with them. I could have said that that was the turning point for my business too, but I had a lot of successes before that. But just getting real with people and you start to connect and you go, wait a minute, what's happening here? But it took a long time of kind of self exploration.
[00:08:59] Speaker A: In your book the Pursuit of Home, you take a pretty kind of psychological approach to the whole process of home buying. And you talk about the different needs that are being met when somebody goes through the process of buying a home.
[00:09:14] Speaker D: A lot of buyers and sellers look at real estate agents, say, oh, these are people that open the door. They open the door and then they make a bunch of commission.
I would turn the whole thing on its head. About 95% of the time. We're doing anything but the transaction. Sure, you have to know your business, but we're therapists, we're cheerleaders, we're coaches, we're marriage counselors, all these other things. I mean, I was a psych major in college and I was a history minor. It's like where people and their stories come together. That's what's going on. You're managing the people. It's a people first business. And if you treat it like a transaction. And a lot of agents start by doing that. I know I sure did. I went in thinking, oh, I just want to get the Deal done and get paid and all this stuff. And then a couple years in, I'm like, it doesn't feel right at all. And I had to shift gears, and I started to realize that people are trying to do something big in their lives. And if you come from that future place, when you're there and you help them paint that picture, all of a sudden the process changes because they know you care, and you're focused on what you're trying to help them achieve, rather than just how many bedrooms, you know, what school district, and things like that.
[00:10:20] Speaker A: So one of the things that you mentioned is sometimes you act like a counselor or marriage counselor.
Can you give us an example of how that actually played itself out in a transaction that you did?
[00:10:30] Speaker D: Oh, all the time. But let's say there was a couple I sat with. They wanted to buy an apartment here in Manhattan where I do business. And I'm sitting there listening to the husband. I'm listening to the wife. He says something, she shoots him down. She's like, diminished, kind of just knocking him, knocking him. And something just didn't add up. I'm watching this unfold, and I'm just loud. Like, I'm creating space for them to. For the first time. Cause I would say most people spend more time planning their vacation than they ever do planning for what is really the biggest thing they're gonna do. One of the most consequential things they do. So they're in the room, and I'm just allowing them to kind of hear each other. And something is. They're just talking past each other. Or even worse, they got divorced a year later. Right. And so I'm kind of at the front end of just creating, like, what is this gonna be? Because. Because they have different communication styles. It's just like marriage. They have to come together, but when it comes to the home, they often haven't had anyone listen to them or ask them these questions. Not everybody goes to marriage therapy either.
[00:11:29] Speaker A: Right.
[00:11:30] Speaker D: Not everybody thinks they need it, but in that sense, it's really important to allow them to hear each other talk. And I'm just. I'm like that fly on the wall. The psychology of real estate is really about the people. And I have a whole system that I call the magnetic method. That's all about, how do you manage people from here to the closing table.
[00:11:48] Speaker C: Well, emotions do play a large part. So we love to watch Love it or List it. Do you know that?
[00:11:52] Speaker D: Oh, sure.
[00:11:53] Speaker C: Yeah. And so people will be in this tiny little house, and they can get another House that's much bigger, but they redo the tiny little house and they've always lived there. And so they stay in the tiny little house. That's a completely emotional decision. Right. Because they could have had a better house.
So how do emotions play into this and how do you work with that?
[00:12:11] Speaker D: Well, when we sit down with them, you start to get a sense of their communication style. But all the while, I know that buying a home moving is one of the most stressful things people put themselves through. So I'm meeting people at their absolutely most stressed out. So my job is to stay super calm. You know, I'm here, like I've seen it before. Yell at me, do whatever you need to do. I don't take anything personally. And people often, as the process goes along, at every step, people's baggage, people's emotional stuff shows up. They get an accepted offer on a property and all of a sudden they freak out. If they have trust issues, then the trust issues come out. If they have money issues, the money issues come out. If they have been burned, just relationship issues. I really think the home buying process is an emotional journey. It's actually a self help program in a lot of ways. And it's one that most Americans go through.
[00:13:03] Speaker A: Absolutely.
[00:13:03] Speaker D: Biggest self help program that there is, essentially.
[00:13:06] Speaker A: And how do you feel when you're going through this process?
[00:13:10] Speaker D: I am so in love with my clients.
The crazier they are, the more I love them.
I've talked to my agents yesterday. They're having like, the buyers are having a meltdown about something. And I said, have some compassion for these people. They are so stressed out. They're trying to sell, they're trying to buy their kids, they're throwing their whole life into the end up in the air. And. And it's stressful. And I often hear this every time they introduce me. That person's crazy, right? That person's crazy. That person's crazy. They're not crazy. They're just human beings. And I just have a lot of compassion for what they're going through.
And I'm here to guide them to really be that force for good for them. And at the end of the day, if they find a home that they love, it's going to change the course of their life. The house is like a foundation for everything they want to do in their lives. It's a partnership between them and this house. People start their businesses in their house. I mean, how many garage bands, garage businesses start that house is a big deal. And if they get it wrong, it could really cause a lot of problems in their lives, too.
[00:14:18] Speaker C: So in the real estate world, is your brand the compassionate realtor, the understanding realtor? How would you define yourself? And how could somebody build a brand like that?
[00:14:28] Speaker D: It takes a willingness to listen to the feedback you get.
A lot of times I wouldn't say, when I'm a nice guy, something has gone wrong, because being nice is telling people what they want to hear.
If anything, I want to be thought of as a kind person because kindness can be tough love. Kindness is telling people what they need to hear. But buyers or sellers have come to me and said, I, I'm calling you because someone told me that you were a lovely broker. Those are two words that don't go together. And I was like, huh? And I started to hear things like, you're not a jerk. You're not a beep. You know, like, you're not a bad guy. And we have a reputation that's probably along the same lines as tow truck drivers and meter maids. Like, real estate agents are not well thought of. In every business I've ever been in, a lot of them are shady. Like, have a bad reputation. I want to be that.
[00:15:20] Speaker A: Lawyers have that challenge too sometimes, right?
[00:15:23] Speaker D: Exactly.
[00:15:23] Speaker C: So I find that the. A lot of the real estate agents in our neighborhood, I hope I don't get in trouble for this. It feels like they're very prima donna ish and they're just doing it for their own egos.
Do you find a lot of people are that way in your business?
[00:15:37] Speaker D: I think agents get that reputation because we have to market ourselves and we have to put ourselves so out there to be top of mind. And it can feel a little tacky. Just it triggers you because you don't want to be that person doing that. And it's. You're really putting yourself out there in such a big way. You're on a billboard, you're on a bus stop, you're on the side of a bus. Right. Like, it's such a weird thing to do. And so I understand how it feels like they're doing it for themselves. But I have to say, like, I do all these videos and I'm on podcasts and stuff. I would rather just hang out with you one to one. And it's sort of a necessary thing that agents have to do sometimes. Oh, I'm not defending them, by the way.
[00:16:18] Speaker C: No, no. I just think there's different perceptions. You don't seem like a real estate agent like the ones I've met.
[00:16:24] Speaker D: I get that all the Time.
[00:16:26] Speaker C: Yeah, yeah, yeah. You seem a lot more real. And it's. I'm sure it's a difficult position to be put in because people. This is their biggest purchase of their lives, probably, and they're gonna blame you. Something goes wrong, right?
[00:16:38] Speaker D: Oh, all the time I'm the bad guy. What happens is before the closing, I get blamed for everything. And then I will get a call after because I just. I just listen, let them get their, you know, run. Take as much time as you need to get out your energy. And then they call me later like, I'm sorry.
I'm really happy in this home and all of that. But, yeah, we end up being the brunt. We bear the brunt of a lot of emotions, that's for sure.
[00:17:02] Speaker A: So what do you do when the couple are at odds and diametrically opposed and have completely different visions of what their house should be and what they should look like?
[00:17:13] Speaker D: I'll take it a step further. I'm working with a couple right now. Of course, I don't kiss and tell, but they want to spend about $3 million in Manhattan on the east side, which you think, oh, that's so much money. Maybe, but it's like a two bedroom apartment, right? Sometimes the wife is so excited. They live on the west coast. They want to have a place here. The husband I know has no interest in buying. He literally sabotages everything they see. And I'm okay with it. It's gonna take as long as it takes. What will end up happening is that the wife will end up saying, buddy, we're doing this and I don't care, and she'll make it happen, but I have to. It's almost like you just have to let. I call it align. There are four steps to my magnetic method. The first is just getting people activated and off the couch. The second is getting the two people. Usually it's a couple getting them aligned. And right now I'm just letting them act out, you know, letting the husband just shoot down things that I'm watching. And we're just letting it happen. We're not getting confrontational, but it takes time. When they're diametrically opposed. You have to. Sometimes you're a therapist, you're like, I hear you saying this, I hear you saying this.
You have to really be careful with the way you communicate so they know you care and that you're not just. You can ruin trust so quickly if you do or say the wrong thing. These are super successful people with a lot of money. This is the most liquid market in the country.
And it's crazy how you have to wear the money hat and the emotional hat and just know when to trade hats.
[00:18:38] Speaker A: When you are coaching other real estate agents, what are some of the things that you tell them not to do to destroy trust?
[00:18:47] Speaker D: You have to be very careful about how you explain things so that when you put forms and things in front of them, they don't go, what is this? They don't get. Because automatically the trust level, the trust level is so low.
You have to build the trust and be very strategic about when you have these conversations.
And you have to, it's care first, care first, care first. I think one of the biggest mistakes, it's not what you're saying to the client. It's just when they're acting out, you come to me and you just, all you do is complain about how they're this and they're that. And I'm like, these are human beings going through a tough thing. Your job is to care for them. When they know you care about them, the door opens and you get to hold their hand and get them. You will get them to the closing table. But it's hard.
[00:19:32] Speaker A: Well, that's great. We're with Scott Harris from Magnetic Real Estate coming up. We'll talk more with Scott and later we'll hear about the Google engineer caught selling AI secrets to the Chinese companies. Passage to Profit with Richard and Elizabeth Gerhardt. We'll be back right after this commercial break.
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[00:21:49] Speaker B: Now back to passage to profit once again, Richard and Elizabeth Gearhart and our
[00:21:54] Speaker C: special guest, Scott Harris, founder of Magnetic Real Estate and national best selling author of the Pursuit of A Real Estate Guide to Achieving the American Dream. Scott, what's your book about?
[00:22:06] Speaker D: What I describe is that what you see on tv, on reality tv, what you see on social media has really skewed the perception of what real estate really is and what it is. Buying a home is an emotional journey that you start on and it is a roller coaster that ultimately ends hopefully with a lot of self awareness of who you are and who you're becoming and that that home can be a real tangible representation of who you are and who you're becoming. Right. And it's a roadmap. How do you get off the couch and to the closing table and beyond?
And it's really, you could also call this book the psychology of real Estate. It's what actually happens that no one talks about and everyone goes through.
[00:22:50] Speaker C: So everybody should have to read this before they get their license, right?
[00:22:54] Speaker D: Whether they get their license as real estate agents or whether this is the book that real estate agents wish their buyers would read.
[00:23:00] Speaker C: Ah, okay.
[00:23:01] Speaker D: People just don't think about this as a real emotional journey, as a psychological, maybe a spiritual journey. So buyers go in this half cocked. They don't even realize that finding the right agent is a huge deal.
So huge.
[00:23:17] Speaker A: How do you find the right agent for you?
[00:23:19] Speaker D: Well, we're talking about one is like if I'm talking to home buyers, how do they find the right agent? Get to know your own communication style. Interview a couple of agents. You don't Just go with your cousin or go with your friend. They may not speak your language.
[00:23:34] Speaker A: So somebody once told me, pick the agent that has the most signs up in the neighborhood you want to live in.
[00:23:40] Speaker D: Well, we talked earlier about having that feeling that the agent really has their own interests at heart. If you feel that way about an agent, you don't hire them. Right? You can be an agent for 25 years and be so self centered that you kind of like feel you might, the buyer might feel like an afterthought. And somebody who might be doing this for two years cares deeply about you and, and they can work on a team or at a company where they learn enough about the real estate process, they're the perfect agent.
[00:24:09] Speaker A: And because they care about you and the transaction, there's a higher likelihood of success of you getting the home that you want. Because you're working with somebody who cares about the outcome, what happens.
[00:24:21] Speaker D: It's a very easy, you don't have to, this is not a neck up decision. If you are with an agent and all of a sudden you feel frustrated, like they're not listening to you, they're sending things that don't really work. They're just, it's not a connection. You can't focus on what's most important for you. That's a really easy litmus test. Are you frustrated? Do you feel like they're not talking to you in a way? Are they not giving you the information in the way that you can process it? You know, if you're emotional, it's very easy. In the book I talk about what, there's an assessment, right? There's an assessment that I, it's free resources. It's on our website too. But you can very quickly understand what is your personality type, what's your communication style and then interview them and see how you feel. It doesn't, it's not complicated at all. Anyone can understand, oh this person. This works. Even if you don't know your communication style, you just use that as a litmus test, it'll work. But if you get to know your own personality, you can actually tell someone, hey, I'm going to need more data.
I'm going to take a long time to make a decision. I'm going to have to see a lot of houses and some agents might go, well, I'm going to work with you and some other agents. Like I get it, you're a data driven person and somebody else is like an executive. They're like, if I can't read it in three bullet points on my phone. I'm not reading it. They just want you to build trust and then take care of it for them. Right. You have to know who your buyer is. And I tell buyers, you don't have to change.
You don't have to change your personality. It's my job as an agent to change your personality, to understand and navigate your personality.
[00:25:53] Speaker C: Well. When Richard and I moved up to the northeast, to New Jersey, we came from the Atlanta area. So we had a 4,000 square foot house in Atlanta that sold for a Pitt and Scoop.
[00:26:04] Speaker A: $300,000. It was $365,000.
[00:26:08] Speaker C: We came up here and we were crying. Anyway, the company assigned us a real estate agent. Was this little old lady. And I was like, is she the right agent for us? But it turned out she was.
And she was very patient with us because we were, of course, freaking out looking at these, like, older, smaller houses.
She drove me through this neighborhood and said, if you ever find a house for sale in this neighborhood, this is where you should buy.
Which we did.
And that was probably the best real estate decision we've ever made. Really? Yeah. So she was right. But I think her thing was she really knew the area.
And when you're coming from out of town to someplace, you really want somebody who knows the stuff but doesn't have their ego all involved in selling you like a house you can't afford, right?
[00:26:56] Speaker D: Yeah. It's sitting with you. And I talk about this very early on in the book. The questions that most websites, if you go on any real estate website, it's like, how many bedrooms? What's your neighborhood? You know, do you want to be next to this church or that or whatever.
These are all the wrong questions to start with because you get totally intimidated by the price point and you shut down. The questions should be starting with, who are you? What are you about? Like, just getting to know, like, what are you trying to do? You're moving to this area, why are you moving here? Try to understand, like, what are you trying to achieve in your life? If you get that right, people just relax. And all of a sudden they'll open up and they'll start saying things and they won't even realize what they wanted. Cause they start with a checklist.
99% of the time, that checklist is not the real checklist. The real checklist kind of emerges and it comes out only after people feel comfortable.
[00:27:50] Speaker C: There was one thing on our checklist that was non negotiable, though. We moved up here, and right after we moved up, it Snowed like crazy. So the one thing was a two car attached gar.
[00:28:00] Speaker D: You know yourself, you live in Atlanta, you live in Atlanta, you do not want to ever shovel snow. You got very used to no snow.
[00:28:06] Speaker A: We didn't want to shovel snow. Does it sometimes seem like people don't really know what they want? Sometimes?
[00:28:13] Speaker D: Every time?
[00:28:14] Speaker A: Yeah.
[00:28:14] Speaker D: If you think about anything in the world that you've been exposed to, nothing is more than homes. You're in, homes you're at your friends, homes you've lived in, lots of homes you've gone to summer camp and you're in a cabin. You, you're. Everywhere is a space. And on TV every day, you're seeing all of these images. Every commercial, every TV show, everything is a house and a space.
You have this preconceived notion of what it's supposed to be. NANCY MEYER MOVIES Every house is beautiful. It doesn't matter if you're like a janitor, you have a gorgeous house. This doesn't make any sense. So you have to unpack, kind of get below all of this noise, cut through it to get to what's real. So every time, what actually is important to you is something else. And you have to be open to learning what that is. And it's a really fun thing when people go, oh, I didn't realize that because they go into a house and there's a checklist that it's supposed to check all the boxes and they walk in and they don't like it and they're like, what is going on? I don't understand.
But you have to cut through that to really understand what you actually would love. That makes sense.
[00:29:21] Speaker A: Scott Harris, Founder of Magnetic Real Estate it's been an amazing conversation, but before we leave the segment, Scott, what is the one thing, the most important thing that you want to leave our audience with when it comes to buying or selling a house?
[00:29:35] Speaker D: Be prepared. Take some time to be prepared. Before you start, get clear on why are you doing this, what is most important to you. Start to understand your own communication style. Take a beat and just get to know yourself as much as you can. And talk to your spouse. 70% of people are buying with a partner.
So whether you're married or not, if you take that minute to be a little bit more prepared, this process can be fun. It can be fun. I promise it can be fun. It does not have to be stressful. It can be actually much more enjoyable if you just get a little bit more prepared.
[00:30:09] Speaker A: That's great. And where can people find you well,
[00:30:12] Speaker D: if they want to look up the book the Pursuit of home, they can go to pursue your home.com where you can get free resources. There's a whole bunch there that they don't have to necessarily buy the book right away.
And if they want to learn about what I do with my real estate agents in my real estate business, then go to magnetic re.com and now it's
[00:30:31] Speaker A: time for our AI segment. Elizabeth, take it away.
[00:30:36] Speaker C: Now it is time for real AI use cases Business Owners Roundtable. And I am going to start with Scott Harris, founder of Magnetic Real Estate and his website is magneticre.com and I am going to ask him, Scott, what is one way that you're using AI in your business?
[00:30:55] Speaker D: My favorite way that I'm using it in my business is that we are sifting through so many new listings and listings that have been updated with this and that and we are actually able. We curate like we don't just send listings to our clients. We actually curate them like, hey, this is something, this is why we like it. We've sold in the building this and that. It speeds up that curation process a ton because we match, we have our buyer list with all of what they looking, what they're looking for and the new listings and AI will match them up for us and spit out, you know, what ticks all the boxes within that and then we can look at it. It saves us sometimes hours and we spend a lot. That's one of the things we spend the most time. It can be a little tedious and it takes us away from engaging with the client. So AI is really helpful. I think it's going to make good agents so much more productive because 70% of real estate agents do zero to one deal a year. Those agents are either going to do more or they're going to get out of the business.
[00:31:52] Speaker C: The people that won't use it won't stay in the business.
[00:31:54] Speaker D: Absolutely.
[00:31:55] Speaker C: So Greg Weir and I want to say that his last name is spelled W I E R.
So Greg Weir with GregWeir.com and his book More Than Just Luck. What is one way that you're using AI in your business?
[00:32:10] Speaker E: Well, I have a secondary business. It's called Prudential Alarms and there we sell AI cameras. So license plate readers. When somebody pulls into a lot, if there was a criminal or something wasn't wanted, immediately notify the authorities. Gunshots on schools. If a loud bang goes off in the school, it will detect a gunshot versus a drop book or something. Cameras are every single Day they change.
We do everything from prisons to universities.
You know, you name it, we do it. But it's just typically you're changing every single day. So in facial recognition, that's the latest one. It's literally updated every single day. Some people saw last week during the Super Bowl. I did not see the commercial where Ring Doorbell sold their systems to Flock, I guess an agency that all the police agencies use and come to find out that becomes. I know, we'll talk a little bit later. It goes into intellectual property and property rights and AI, but that's all AI generated. And if you notice the. Like the woman that just disappeared in Arizona. Yeah, that was elaborate. A camera that picked that up. That's what that was. That was probably AI camera, if I had to guess.
[00:33:18] Speaker C: Okay, was it just a simple ring?
[00:33:20] Speaker E: They say it's a ring doorbell, but I would probably second it. Guess probably not.
[00:33:23] Speaker C: So you're using it in your cameras. Wow, I hadn't heard that before. That's pretty cool. And I hadn't heard the real estate one. So, Richard Gearhart with Gearhart Law. What's one main way you're using AI?
[00:33:32] Speaker A: Well, one way that we're trying to use AI and we haven't, but we haven't gotten it worked out yet is we have an intake process when we work with new clients. And there's files that have to be set up and engagement letters that have to be signed. And then we want to make sure we capture all the right information about the client.
And so we're trying to automate that. I have to say it has not been as smooth as I would have liked, but we're going to keep working at it. But we feel that there could be definite advantages in using AI to build that system.
[00:34:06] Speaker C: And I'm Elizabeth Gearhart with Gear Media Studios. And the way I'm using AI, I'm using it for this podcast, AI in business. And what I'm doing is I'm using it to generate large language model optimized descriptions to put on the website for this podcast and to put in the show notes and then schema code, which is a code that goes in the background to make it easier for large language models to read the transcripts of this so that eventually when Everybody's going to ChatGPT or Perplexity or Google Gemini for their answers, instead of doing like a regular search, the snippets hopefully from the show will show up.
[00:34:44] Speaker E: So.
[00:34:44] Speaker C: So I'm using it to optimize for LLM search. But I know that you Had a lot more to say.
[00:34:52] Speaker D: It's endless. I use it as a thought partner.
It's like the best assistant I've ever had. It speeds up my research. When I was writing the book, it helped me all the citations when I sort of use it to think through.
I do a lot of writing, social media. It helps me think through things, helps me map that out.
[00:35:14] Speaker A: I think you bring up a good point too, and that is you can ask AI for references so when they come to a conclusion or they give you information, you can say, well, what's your source for that? Right? And I think sometimes that's important. We were looking at a software not too long ago and it sounded great. And then we asked, well, what is the source for that? Well, it's the website that they put up. And so of course that's going to be full of marketing stuff, right? And so you have to double check sometimes, make sure that the place that they're getting the information for the answers is someplace that you can respect. And sometimes a website might be fine. I'm not knocking that. But in this particular case, it was marketing stuff. It wasn't the real technical specs of the website.
[00:36:01] Speaker C: This has been AI use cases, Business Owners Roundtable. You're listening to the passage to profit show. We will be right back.
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[00:38:07] Speaker D: Passage to profit continues with Richard and Elizabeth Gearhart.
[00:38:11] Speaker A: Quick shout out to our friends at WKAJ 11:20am and 97.9 FM in Utica, NY. Thanks for listening. And if you're new here, Passage to Profit is a top ranked entrepreneurial podcast and radio show heard in 38 markets. It's a place where founders share what really works. And now it's time for IP news. The race for artificial intelligence just turned into a criminal conviction. A former engineer at Google has now been convicted in federal court.
Prosecutors said that he stole confidential AI trade secrets.
[00:38:52] Speaker C: What was he convicted of, Richard?
[00:38:53] Speaker A: Well, he was convicted of stealing trade secrets and espionage. And he stole stuff from Google, like advanced AI model, proprietary chip and data center infrastructure. And none of this stuff was publicly available. They were all trade secrets of Google.
[00:39:10] Speaker C: Well, what's amazing is that this was not a civil lawsuit. It was criminal criminal prosecution. So that tells you how seriously the government's treating AI technology.
[00:39:21] Speaker A: Right. And federal trade secret theft carries some pretty heavy penalties. Aside from damages and fines, you can also go to jail. So this is something that is happening to this former Google employee.
[00:39:37] Speaker C: So it's really shifting the narrative from, oh, this is just normal corporate competition where we're stealing each other's secrets to. To protecting strategic technology as a national security issue. Right, Right.
[00:39:49] Speaker A: And given the importance of artificial intelligence and the AI race between China and the U.S.
this stuff is important. And when we have people who are transferring this information illegally, it hurts our competitive position.
[00:40:05] Speaker C: Right. And AI is now viewed as a strategic asset. It's used in defense systems, advanced computing, cybersecurity infrastructure. So governments see AI dominance as economic and military leverage.
[00:40:19] Speaker A: Absolutely. It's not just about chatbots it's about how our financial systems and healthcare systems work and logistics and national defense. And so whoever controls this AI has a big competitive advantage and they also control a lot.
[00:40:36] Speaker C: Right. And so innovation is accelerating, but so is enforcement. And we've spoken on this show many times about copyright enforcement with AI and we've continually said the courts have to get involved. And now it seems like they are because there has to be some legality wrapped around this.
[00:40:55] Speaker A: Absolutely. And you know, a lot of people assume that patents protect all of this technology, but they're really trade secrets. This is intellectual property.
And know how that's held by the tech companies. And the only way they can protect it is to keep it secret.
[00:41:13] Speaker C: Well, and I remember learning as a kid out Eli Whitney memorized the mechanics of the cotton gin and brought them over to United States and built one in the United States that took months.
This takes literally nanoseconds to steal and copy.
[00:41:28] Speaker A: Absolutely. And so in the 20th century, it was all about oil, and nowadays it's all about algorithms.
[00:41:37] Speaker C: So what does this mean for everyday people? Well, good question.
You know, AI is in your life whether you want it to be or not. So it's in banking, healthcare, transportation, national defense. And the security of those systems really matter to all of us?
[00:41:54] Speaker A: Absolutely. And it comes down to trusting the tech companies that are responsible for managing all of that. And that's really a stretch for me.
It really comes down to seven or eight people in the world who have control over these systems. And we like to think that they're working in the best interests of us all. But that may not be the case.
[00:42:17] Speaker C: Well, the innovation is exciting and everybody's wondering where it's going, but the accountability and security are becoming just as important. If we not more so, I think.
[00:42:26] Speaker A: Yeah. And in. In the age of AI, the most valuable asset is stuff that you really can't see. It's the information and how it's protected will definitely shape how we move forward in the future.
[00:42:41] Speaker C: So that segues us right into our next segment. Greg Weir. W I e r greg weir.com. he has worked in security. He's done a number of things in his life. He's pretty amazing. He's had many ups and downs. Welcome to the show, Greg. We want to hear your story. And we were talking about security in the last segment. How did you start? I know you got married right out of high school.
[00:43:02] Speaker E: I did.
[00:43:03] Speaker C: And you probably weren't rich then.
[00:43:05] Speaker E: Absolutely not, no.
[00:43:08] Speaker C: So what is your story?
[00:43:09] Speaker E: Mine was just a matter of knowing you had to do something to make up with yourself. Some people dream it and some people do it. I was one of those guys that always thought that if you do it, kind of follow the routine of education, you know, from post education, out of high school, in college. I mean, although I couldn't afford it, I didn't have any money. So that was the choice. Wasn't really an option. But I thought, you know what, if I can find something to do, I'll be the best at it. So I literally went out and got a job making $4 an hour as a security guard and kind of learned everything I could about the business. I took every job, every account, and I got to know people. And I learned early on the power to business is relationships. And then I spent about 11 years with international company, learned a lot, and I decided to actually move here to New York or stay in Detroit. And I chose stay in Detroit and left that company and I went into my own business.
It was tough. I didn't realize making payo every week was a problem. It was quite the hassle. Some of the things I never had to deal with before. But once you get past that, just do what you say you're gonna do, do it consistently, and you know, you'll find out that once the customer learns that about you, they'll stay with you. So I was fortunate in my 40 year or 29 year career on my own, I probably kept 95 or percent or more of the customers I had from day one because we did what we say we're gonna do. And then from there it's just doing strategies, developing good people. I mean, you know, you're only so good and you're only one person. So along the way you have to develop people and they get loyalty and they have to work hard for you. They have to trust each other. And I think once you do that, it's just, it's really. I don't make it sound simple, but those are all kind of the ingredients to becoming something and somebody. So taking something from absolutely nothing and turn it into a fortune using those basic ingredients.
[00:45:01] Speaker C: And it was more than just luck, right?
[00:45:03] Speaker E: It was absolutely more than just luck.
[00:45:04] Speaker C: Which is the name of your book.
[00:45:06] Speaker E: It is.
[00:45:06] Speaker A: Well, I love your story because it shows that America is still a place where you can start anywhere. And, you know, with a lot of perseverance and fortitude, you can achieve a lot, you can achieve your goals. And so I was looking through the show notes here, and it says that you faced betrayal, business collapse, and even attempts on your life. Oh, yeah, tell us about that.
[00:45:33] Speaker C: Yeah. Who tried to kill you?
[00:45:34] Speaker E: Business partners. That's where I formed my opinions from.
[00:45:37] Speaker A: No wonder you don't want any partners.
[00:45:39] Speaker E: Well, our revenue base, you know, starting off, you have nothing and you have a dream. And then over time, you build it. I personally have built over $1 billion a year in my lifetime career. About a billion. Billion too. And along the way, people, you start collecting money, you start collecting cars and houses and vacations, and they see you're in their way. So as one particular partner, I went to a. It's in the book. With a Lake Cumberland, a houseboat party, like a company getaway for the weekend in Kentucky. And we're on Waverunners. And I flipped one. Anybody knows boater safety is hands up in the air? Things flipped over. Don't go near the area. This guy went right at me and just ran me over.
[00:46:21] Speaker A: And purpose.
[00:46:23] Speaker E: On absolute purpose, yes.
[00:46:24] Speaker C: Who was he?
[00:46:25] Speaker E: Business partner. Who was the name? No, the name G. It's in the book.
But I didn't have him back. But that's just what people do. Another time, another business partner, he started doing side deals, something I was against with his drug partner. So I go to Florida. We had an office down in Fort Lauderdale, and I had this gut feeling. Just this gut feeling, don't stay in this room.
So I was at the Holiday Inn on the ocean, and I moved about a mile down the road. I go back the next morning, and the room's absolutely ransacked and tore apart.
[00:46:58] Speaker A: They were looking for you.
[00:46:59] Speaker E: They were looking for me, of course, because the dollars are so high. I mean, in the security guard business, it's a multiplier. So if you have a $50 million, your company is what I sold. It's worth a lot of money.
[00:47:10] Speaker A: Your life is like an action movie. I swear, the whole thing was.
[00:47:13] Speaker E: So looking at it being the best in that industry, I probably was, and probably still the best in it. But it was all done through just, you know, elbow grease. You can't go to school and learn that stuff. Nobody's learning that in college. You just gotta do the job.
[00:47:27] Speaker A: But how did you maintain resilience through all of that? Is that just something you do? Or did you have ways to build yourself back up after these?
[00:47:40] Speaker E: You have to. You surround yourself with people, and those people rely on you. They have the nice houses and cars and, you know, kids in college. And if you fall down, you can't get back up. You've now let them down. So the driving force is really for someone else. Because once you have financially everything in life you need or want, you can walk away, but you want others to join you. And that was the fun of it. So as a person, I'm eccentric. I mean, my style was taking 25, 30 people, whether it be Las Vegas or San Juan, Puerto Rico or, you know, San Diego, wherever we wanted to go for that year, it was all expenses paid. You know, we had suites at arenas that cost, you know, half a million dollars or more a year. Plus, plus, plus. So we were fun to work with, we were a fun company. And when you do those things, you have so, so much. You don't have a choice. You're so deep. Because really, until you sell, you really are financially well off because you're deep. So what the resilience is, it's called survival.
[00:48:42] Speaker C: So when you got married and you had a child, or your wife had a child shortly thereafter, how old were you?
[00:48:49] Speaker E: I was 18 and she was 16.
[00:48:51] Speaker C: Are you still married?
[00:48:52] Speaker E: Yes, 42 years later.
[00:48:53] Speaker C: You know, I have a lot of respect for you because a lot of guys would have just walked away from that, right?
[00:48:59] Speaker E: Oh yeah. I mean, that's what I was. I'm not gonna, you know, coming out of high school, I wasn't the guy that was probably marriage material. But you know, once you grow up together in it, it's kind of fun. Like seeing you two work together, it's kind of fun. It's not the money anymore. I think it's more the fun. It's the excitement of growing up with her was pretty much it. We were kids, you know, so, you know, going out and working 20 hours a day or there was no cell phones back then. I'll see you tonight. Walking at 11:12, 1, 2, 3, 4 o' clock in the morning. There's a lot of trust issues you have there. We've had one argument our entire marriage. One.
Well, just one.
[00:49:32] Speaker A: We've beat you on that score.
[00:49:35] Speaker C: That is what you need to teach people.
[00:49:37] Speaker E: Yeah, just one.
But we're fortunate, we're blessed. I don't, you know, if you work hard, I believe things come to you. But just cause you work hard doesn't mean it's gonna happen. But at the same time, give it your all. And that's a lot of people don't.
[00:49:51] Speaker A: So we were talking earlier about trust, right? And so you've been through all of this stuff with people like trying to kill you, but you still have to be able to trust people to do business, right? So how do you figure that out? How do you set Boundaries or guardrails to still trust people. But also, I guess, watch what you're doing.
[00:50:13] Speaker E: Probably the last 20 years in business, I allowed people into my life. Our parties at my house would be five or six hundred people.
[00:50:22] Speaker A: Wow.
[00:50:23] Speaker E: Being out all the time with them being part. So I kind of shut them out. I changed course because people knew too much about me. They knew the cars I was driving or how I live or how my house is laid out. And so I kind of changed the way things were done and didn't let people get so close anymore. And then I pick and choose who I do business with. I mean, you can work with me or for me, but that doesn't mean you get to know me. And I think because of that, because of those threats and because of those things that occur, just kind of the reality of the situation is people typically are evil and everyone has an agenda. I believe. You know, when you meet somebody, they call you, hey, how you doing, Greg? They want something, most likely, and jealousy drives a lot of it. Jealousy drives a lot of that hatred and those threats and, you know, it's,
[00:51:09] Speaker A: wow, so you've kind of paid a price for your success.
[00:51:12] Speaker E: Oh, 100%. I laid out in the book, I didn't pull any punches whatsoever. I laid out the truth. I wanted to lay out a story, a story about a kid that was poor, broke, made something of himself through hard work, never stole anything, never went to jail, never got in trouble, never did a drug, rarely drank, just stay focused, stay this, stay that. And then I just kind of took it to how. So this is what happened. And then the last maybe 100 pages tells you how to do it, how to work, sacrifice what you have to do. If you want to sit on the couch and do TikTok videos, you probably aren't going to get wealthy. And, you know, people say, you know, money isn't everything. Well, the truth is, it is. It may not be big money, may not be everything, but you need money to survive. And if you have a child, I think every responsibility is a parent to provide for them, whether it be clothes or shoes or education or cars or whatever. That's what's wrong with the world, I think.
[00:52:05] Speaker A: Well, it's hard to be happy if you don't have money anyway. Scott Harris, you have a question or comment?
[00:52:11] Speaker D: I think it's fascinating. I mean, when, when you started out, has it shifted from where you started with trust to now? When you start with maybe mistrust or were you always. You were in a business that was security based. So I. It seems like you might be naturally mistrustful to begin with. And that's not good or bad. It just what seems to me, yeah,
[00:52:33] Speaker E: when it comes to like customers, it's always trust each other. But when it comes to the people that actually run the business, don't allow money in your life. That was my mistake. I let too many people in my life. I let. I was very open. Whether it be I was obvious, I still am. Cars, exotic cars, cars costing 3, 4, 5, 600,000, $2 million.
And they're over here driving a 89 Buick. They're mad at me. So I didn't realize that growing up I had. I was just very blessed. I thought I was young. I call it. It's more than just luck, but it's also a lot of luck.
So I thought I could share with you how to do it. And I'll help you. I'll give you a job. I'll pay you six figures. When the market bears $50,000 or something, I'll open the door for you. Well, most people are going to do something different with that money. All I did was want to build to the next level. And I did all this with ever a bank loan. I never got a bank loan. And that wasn't because I was that good. My credit was that bad.
[00:53:29] Speaker C: So you had to figure it out.
[00:53:31] Speaker E: I only had to grow. I could only grow as fast as I could afford to grow. So working for, you know, weeks or months without a paycheck was pretty normal in the beginning of time because it was more important me to grow.
I already had the business lined up. It was just a matter of whatever. So when I finished, I was in the top 25 security guard companies in the United States out of over 5,000.
[00:53:53] Speaker C: Wow. Well, how did you eat if you didn't have a paycheck? How did you pay your rent and eat without a paycheck?
[00:54:00] Speaker E: We bought cows. Friends of mine, we split a cow together. That'd be. You'd have, you know, in those days.
[00:54:06] Speaker A: Not uncommon in Michigan, by the way.
[00:54:08] Speaker E: No, it's not uncommon.
[00:54:09] Speaker D: You're talking about a meat locker.
[00:54:10] Speaker E: Like a meat locker. Basically, you have a freezer in your garage and you got beef and that's how you live. There's no McDonald's, there's no restaurants or anything else. You just, you had your meals and that's what the kids ate and they had their macaroni and cheese and that was life.
[00:54:23] Speaker C: But where did you even get the money to by that? Did your parents help you or because you were so young.
[00:54:29] Speaker E: Yeah, I had no help.
[00:54:29] Speaker C: My parents would you go mow lawns in the summer or something?
[00:54:32] Speaker E: I'd. Funny, I did do that also. Wash windows, mowed lawns, whatever it took.
[00:54:37] Speaker C: Okay.
[00:54:38] Speaker E: Because that job making $4 an hour wasn't ever. So we just, whatever corner you could cut, I mean, we clipped coupons and you know, crazy stuff like that just to be able buy one, get one free. I remember going to store calculators and you know, you would exceed what you had in your pocket. So you put stuff back and that's, that's the way how you lived. So I always say when you live there, it's kind of like once you taste steak, you always want steak. When you've been poor, you never want to go back there. So my driving force was just, you know, have enough money to never worry again. And that's kind of where I, I sit back today I'm 62 years old. I could retire today if I wanted to. I still have about loving people in my camp that I care about and I want to see those loving get wealthy and then I'll walk out and I can do that probably in the next, probably three years.
[00:55:26] Speaker A: What about friends and family? Do you trust them?
[00:55:29] Speaker E: Well, the problem with, I mean, it's unfortunately a family, they're turned off by you. Because when you come from a poor family and all of a sudden you have everything. I mean, I live in a very large home, 10,000 plus square foot.
I have 45 plus cars. I have a house on the ocean. I have a lot of nice things. So when your poor family knows these things, they have no desire to deal with you. My father died when he was 48. My mom died at 59, my sister at 57, my brother at 50. That was it. And the outside family is just the relatives. The aunts and the uncles and grandparents obviously are gone. And they hate us, they don't like us because, you know, the kids are great, they're driving nice cars and all that. We're show offs and we are. I'm not going to, you know, because they didn't have anything. So when I got it, I was like, hey, look at me. It comes with other problems too. I mean, people look at you like you're a dope dealer or think you're doing something wrong and Iris gets into your business and that's all, that's all covered in the book. You have to go through all the processes and audits with them and they verify your income and. But I did Some exceptional things. I mean, I. Everything. We talked a little bit in the hallway about the music business.
I mean, I took, you know, just an ideal, turn it into a major record deal, work with a major artist, and made a ton of money off of it and did it. I tried it three or four more times and it didn't work out so well. So I got away from it. But I lived the life. I had a LA lifestyle for a number of years. And those are great stories. That's how I was able to write a book and tell those stories. Because I want someone to sit back and go, if that guy with no education, with no support, no money, how do you do it? And that's what it's about. So it's kind of inspiration. It's. Know how I'm not that smart. I always tell people, you know, if you put me against the average person, I'm not gonna, you know, pass the IQ test hiring the next guy. But I know how to do business. I know about relationships. I know how to work hard. I know how to tell the truth. And if you do those things, then you're able to accomplish something, I think. And that's kind of what I did. And if. Because so many people nowadays are so full of fluff, I mean, that's. That's a negative to them.
[00:57:33] Speaker C: So where in Michigan are you?
[00:57:35] Speaker E: Ann Arbor, Michigan.
[00:57:36] Speaker A: Okay.
[00:57:36] Speaker C: I guess.
[00:57:37] Speaker A: I think.
[00:57:37] Speaker C: I do think the attitude towards wealth and stuff is a little different there than it would be out here on the east coast. Because I think people on the east coast are, like, okay with wealth more because so many people here have it. I think Michigan is more rural and more.
[00:57:52] Speaker E: We were laughing and coming in this morning. We couldn't afford to live here. Although I have a lot of money, a lot of success. But, man, our driver was telling us what some of these houses cost in New York.
[00:58:02] Speaker C: Yeah.
[00:58:02] Speaker A: I decided I got a real estate guy right here.
[00:58:05] Speaker C: Yeah.
[00:58:05] Speaker D: He knows there's no better place to be wealthy. I was going to give you the other side because no one knows that apartment that you live in because from the street, you're just like everybody else. And I know people, billionaires, who you would never know. You know, they don't wear it on their sleeve.
And that kind of works here sometimes.
[00:58:25] Speaker E: Oh, I bet I can see it. I'm a victim of it. I mean, I'm a victim of my own showing off. Is it like I feel sorry for myself, but I see what you're talking about. Exactly. Because if I had to do all over again I'd have all this money. I still live in the trailer park. I probably own the trailer park, but no one would know it because it saves you a ton of money. When you get into legal fees, when you get audited by the irs, the legal fees are hundreds and hundreds of thousands of dollars.
[00:58:49] Speaker A: Do you sometimes think having money is more hassle than it's worth?
[00:58:53] Speaker E: No.
[00:58:54] Speaker A: Good.
[00:58:55] Speaker C: I'm glad to hear you say that because I don't even.
[00:58:57] Speaker A: Honestly, the way you were talking there, it's like, I don't really want this.
[00:59:00] Speaker E: No, no. I love it. You know, life's too short not to have it. You can't take it with you. So it's not all that. But one thing I do for people, no matter who they are. I will absolutely give everybody the best advice I possibly can to help you get where you want to go. I find time for everybody and that's kind of my style. I did it in Detroit. I went on to 13 other states too, and had the same success stories as far as the security guard business, but same concept, just taking it on the road and putting up offices and, you know, the brick and mortar and then servicing. And I made a lot of people a lot of money that listened to me. And I also saw a lot of people get the money and they're not responsible and they lose it for one reason or another. So no. I love money. I think everybody should love money. That's why we all do it. A lot of people are afraid to say that. A lot of people say, well, I'm conservative. I'm doing this. I got my 401k and I got that.
[00:59:51] Speaker A: Well, that's because they don't want to live under the same microscope that you do.
[00:59:56] Speaker E: That's correct. Oh, you're right.
[00:59:57] Speaker A: So it's just a matter of how much are you going to put up with. Right.
[01:00:02] Speaker C: So where did you get.
[01:00:03] Speaker A: It does have an effect, I think.
[01:00:05] Speaker C: Where do people get your book?
[01:00:07] Speaker E: My website's gregweir.com or more than just luck.com.
[01:00:10] Speaker C: is it on Amazon?
[01:00:12] Speaker E: It's not released yet. It will be on March 17th.
[01:00:14] Speaker C: Oh, so we got a pre copy.
[01:00:16] Speaker E: You did.
[01:00:16] Speaker C: Oh, I can hardly wait to read it. I'm going to read those last few pages about how I can do it.
[01:00:21] Speaker E: Yeah.
Always be able to. It's a lot of fun.
[01:00:24] Speaker A: After you figure it out, you can teach me. So well, this has been great. What a fantastic story and amazing insights and so thank you very much.
[01:00:37] Speaker C: So we're going to do something different. We're Going to have a group discussion. The decisions that shape everything.
[01:00:42] Speaker A: Yeah. All right. So theme of the show has kind of been about trust, right? You know, Scott and Greg have both talked about trust. So when do you trust your gut or when do you not trust your gut? Scott Harris.
[01:00:54] Speaker D: I will say that every decision that's ever been good in my life has come from my intuition.
Every time, whether it's to marry the woman that I married. Never made a better decision in my life. Anytime that intuition finally says, hey, it's time, you have to get quiet. Sometimes it just. It comes out. You're like, what? You know, you have that intuition. But how do you get there? Get there is most of the time by being present, just being with yourself, you know, really like locking into whatever you're doing.
The most success I've ever had is just being there with the person next to me. That's how you make decisions. When you say something, when to be quiet, when to ask for the business, when not to, when to shut up.
[01:01:42] Speaker C: It seems to me like you've done some work on yourself. Richard and I have done a ton of work on ourselves, and there are lots of times when I just sit in the silence and just kind of let my mind wander. I'm not meditating. I'm just letting my mind go. And. And I try to keep it focused on positive things, but I think part of it is knowing yourself and also just maybe tapping into the universe a little.
[01:02:02] Speaker F: What do you mean?
[01:02:03] Speaker D: I mean, that's. You're talking my language. I go for runs, I go for walks, and I have this phone in my pocket, and I have my ears on, and I have an idea, and I'm like, hey, Siri, make a note. It might even talk to me now, right? Like, I'm constantly just getting it out from my head out so that I can make sure I capture it. I mean, I have this creative energy that I can't control. It's got to come out. It comes out in my writing. It comes out. I still write music. I was in the music business. We didn't talk about that before I got into real estate. But you have to just allow it out, and when you get it out, there's more. It comes right behind. I mean, you've built how many businesses? My gosh. You have an inspiration to do it. You're like, I can't not do it. I got to do it. You light up when you start talking about your businesses. That's what brings. Seems to bring you a lot of joy.
[01:02:53] Speaker E: Agree. I think Intuition comes from the failures you had. You've tried it, you fell down, you skin your knee. You can't do that again. So the next time it approaches itself, you already know from your past experiences, this didn't work last time. Or that's kind of. I think that where your gut comes out, I'm with you 100%.
It's gotta feel good in the gut.
[01:03:13] Speaker D: I don't do it every time I've made a decision that I didn't follow. My gut bad always agreed. I'm like, ugh. I knew this was the wrong move and I did it anyway. And it blew up. Shocker. You know, like, never, ever has it failed me. I'm really grateful for that.
[01:03:29] Speaker A: So I'm gonna ask people here for a little bit of advice. So we're in the process of hiring a new marketing agency, and everything looked great, really liked the agency, said all the right things. Seems like a great fit. And yesterday I send her an outline of the New Jersey business plan that was created for Life Sciences, which is one of the sectors that I work in. And I had a one page summary. It's a 25 page plan. And I asked it, well, how does Gearhart Law fit into this? And I sent it out to our team, and I included her and one of her members there, and she came back and said, if you're going to be sending me crap like this, I don't want to work with you.
[01:04:17] Speaker C: She did not say that exactly.
[01:04:19] Speaker A: Well, I mean, but that was her. That was.
[01:04:21] Speaker C: She had a long explanation about why she didn't want to get this kind of stuff, and it was.
[01:04:26] Speaker A: No, no, no, no, no. This is my story.
[01:04:27] Speaker D: Yeah.
[01:04:28] Speaker A: All right, let me. Let me finish.
No, no, no, let me finish it. So I'm asking for their advice.
[01:04:35] Speaker C: Okay. What doesn't that mean, though?
[01:04:36] Speaker A: So in any case, now I'm like, you know, however, it came across as, to me as kind of rude and offensive.
[01:04:43] Speaker D: It came across the way it came across to you.
[01:04:45] Speaker A: And so I'm like, darn it. I mean, this was gonna be the magic bullet. But now with this email sitting there, I'm like, can I have a relationship with her? Because I really felt, you know, shot down. You're shaking your head.
[01:04:58] Speaker D: Like, I have two things I would say. Yeah, you have.
And Greg probably agree. One, you get on the phone with this person and you tell them, hey, you said this in this email, and I am upset.
Very carefully worded. You didn't make me upset. I'm upset. Right? Have a real conversation. And See what they say, that's one thing you can do, and the other is just to trust your gut. You're like, if this is how she reacts over email, maybe it's not the right fit. But you have to either. You have to have a conversation. I would say have the conversation, because regardless of what happens, I'm willing to have the hard conversations. That's part of my real estate business. You have to have the conversations. My wife's always like, don't do it, don't do it. Don't have that conversation. Don't say that to my mom. And I do it, but I do it with love. And if you start with, like, I care about you and I'm really excited about this relationship, and then this happened. They're not just a thing. They're not that way. You're like, this happened, and I'm upset. Like, what do you have to say about it? But maybe Greg has some different.
[01:06:00] Speaker E: I'm probably more old school. I believe the dog wags the tail and the tail don't wave the dog. You're the customer. That's where I came from, you know, customer service 100. I didn't. I didn't have to educate. I had to sell the, you know, safety and security. But it was a relationship. I've never in my career ever told a customer, I don't want to do business with you. Especially in the beginning. It's not going to go anywhere down the road. Maybe after some time I cancel them because they were just, you know, they're. They just weren't cooperative or unreasonable. But if it gets off bad, it's like a bad date.
[01:06:29] Speaker D: Right? You've built. The foundation is already cracked.
[01:06:32] Speaker A: Yeah.
[01:06:32] Speaker E: Yeah.
[01:06:32] Speaker D: I would say. I mean, I'm saying this because it's. There's never a bad. I say, like, everything can be solved in communication. And this is like, at least you know that. Like, you've had the conversation. I would say it's a good practice to have it, but ultimately you probably are not gonna do business with them. You're hurt. I hear it.
[01:06:49] Speaker E: Yeah.
[01:06:50] Speaker A: I mean, I am.
[01:06:50] Speaker D: And it's such a fragile thing. Like, it's such a vulnerable thing. You're trying to build this new business. You have this exciting business plan. Someone has to believe in you now.
[01:06:59] Speaker E: You gotta walk on eggshells in the future.
[01:07:01] Speaker C: Scott Harris, founder of Magnetic Real Estate Greg Weir W I e r gregwier.com
[01:07:07] Speaker A: it's been an amazing conversation.
[01:07:09] Speaker C: Passage to Profit with Richard and Elizabeth Gearhart.
[01:07:12] Speaker A: We'll be back with More after this.
[01:07:14] Speaker G: Do you hear that? That's the sound of uncertainty lurking under your hood. You know the feeling? I know I do. That sudden sinking sensation when you see a check engine light or your car unexpectedly breaks down and you're faced with sky high repair bills. It's time to shield against unexpected repairs with Car Shield. Car Shield is America's most trusted auto protection company and has an A rating with the Better Business Bureau. Don't let the fear of a breakdown keep you up at night. Trust the Shield Car Shield. And say goodbye to terrifying repair boots and hello to peace of mind. Your plan also comes with 24. 7 roadside assistance, courtesy towing, rental car options, and so much more. Don't wait till it's too late. Call Car Shield now before a breakdown. Protect your wallet. Protect your car with Car Shield. Get our best protection ever. Call now. You'll thank me later. 800-261-217-6800, 2612176. That's 800-261-2176.
[01:08:13] Speaker D: It's passage to profit.
[01:08:15] Speaker A: Now it's time for Noah's retrospective.
[01:08:18] Speaker C: Noah Fleishman is our producer here at Passage to Profit. And he never stops trying to make sense of the future by looking at the past.
[01:08:27] Speaker F: I just found out about a brand new smartphone device that's designed and functions like a vintage table telephone. I knew it was only a matter of time. A friend of mine who works with the elderly says it's a great new innovation. I asked her, where can I get one? Technology is always going to move ahead and fast, but that doesn't mean you have to be that old to prefer the grounded landscape that you remember best. Once this phone thing catches on, we're going to start seeing box shaped television sets again with curvature screens and a circular converter dial with just the six channels you want. 600 channels at once is a little too much for some of us.
After that, who knows? Maybe a renaissance in print publications. Wristwatches are gonna have new meaning all over again. Maybe a return to phone books. But the good news is there's plenty of traditional things in our lives that'll still never change. I was reminded of that the other day when I was in the department store and went online to use the restroom.
[01:09:21] Speaker B: Now more with Richard and Elizabeth. Passage to Profit.
[01:09:24] Speaker C: And now it is time for C Secrets of the entrepreneurial Mind. Scott Harris with magneticre.com what is a secret you can share with our listeners?
[01:09:35] Speaker D: It's so simple and it's so hard. Can you just be with your client. Can you actually sit there and not be distracted by your phone and not be thinking about the next appointment? Can you just sit with them and actually listen with no agenda? Can you do that? You will be huge.
And the other secret I think is a little bit more actionable. Like sitting there is like a really hard thing. It sounds easy. The other is just why don't you decide that you're just going to help them however they need help? Open your Rolodex. I want to be of service to you. That's what's built my whole business. I just want to help people. I help one guy land his biggest client. I help somebody else. You know, like a credit rating guy. Like constantly help people get jobs, whatever it is. You put those deposits in the bank of the universe and they come back with interest.
[01:10:23] Speaker C: Karma. Love it.
[01:10:24] Speaker D: Karma is undefeated. Karma is undefeated.
[01:10:27] Speaker C: I agree. So, Greg Weir with GregWeir.com what's a secret you can share with our audience?
[01:10:32] Speaker E: Always be available. In our business to this day, again, we pay people a considerable amount of money, usually 100% more than industry average. I do that because, first of all, I want them to be financially secure, but to always be available.
I want you on call 24 7.
No one's calling you at 3:00 o' clock in the morning. But if your house is broken into, you need to get hold of your sales guy or your tech or whoever, then answer that phone call. So I always say it's not so much a secret, it's just we're wide open about it is just take care of the customer. And you do that by being always available. We tell people we're always available. Our phones are always on. And that's a fact. It's been that way since the beginning of a time with me.
[01:11:11] Speaker C: No wonder you're successful. Richard Gearhart with Gearhart Law. Patents, trademarks, copyrights, what's your secret?
[01:11:17] Speaker A: I think one secret is we deal with a lot of clients who have products and inventions. You have to understand what is the leverage, the business leverage that your product or service offers.
So what advantage do they get by hiring you? And that advantage should exceed what they're paying for it. And if you can build that model and if you have that concept in your business, you'll be successful because people will see the value of what you're offering.
[01:11:48] Speaker C: And I'm Elizabeth Gearhart with Gear Media Studios. And my secret is going to be always read the fine print. But you don't actually have to read the fine print. What you can do is you can put the contract through ChatGPT or perplexity or Google Gemini and say, tell me the fine print and the reason I bring this up. I'm not sure if everybody knows about this, but we use this program called capcut for editing video.
Now they've changed their terms of service. I'm like, I checked the little box. I'm like, okay, you change your terms of service. No, I had Gemini spell it out for me. You retain, of course, the copyright to your work, but they have an unlimited license forever to do whatever they want with it, to use it in third party marketing, et cetera. And I'm like, we are never putting anything on capcut again. We'll use Descript to edit instead.
[01:12:37] Speaker A: So basically, if you edit a video of your kid's birthday party, they have rights to that and they can use it whenever they want, however they want for the rest of time.
[01:12:47] Speaker C: If we put this on there, they could take Scott's face and use it somewhere for their advertising or however they want.
[01:12:55] Speaker D: It's a good face, baby.
[01:12:56] Speaker G: I know it is.
[01:12:57] Speaker C: It's a great face. But do you want it?
[01:13:00] Speaker D: Like, no, of course not.
[01:13:02] Speaker C: But I mean, yeah. I mean, they could take your face and use it as a model for who knows what, right? And you've given them an unlimited license to your content forever. So read the fine print, but actually have Gemini or somebody do it for you.
[01:13:15] Speaker A: Well, that's all this week. Thanks for listening. Passage to Profit is a Gear Media Studios production. It's the nationally syndicated radio show appearing on 40 stations across the U.S. in addition, passage to Profit has also been recently selected by Feedspot Podcasters Database as a top 10 entrepreneur interview podcast. Thank you to the P2P team, our producer, Noah Fleishman and our program coordinator, Alicia Morrissey, and our social media powerhouse, Carolina Tabares. Look for our podcast tomorrow anywhere you get your podcasts. Our podcast is ranked in the top 3% globally. You can also find us on Facebook, Instagram X and on our YouTube channel. And remember, while the information on this program is believed to be correct, never take a legal step without checking with your legal professional first. Gearhart Law is here for your patent, trademark and copyright needs. You can find
[email protected] and contact us for a free consultation. Take care, everybody. Thanks for listening and we'll be back next week.
