June 3, 2025 • 40 mins
In today’s discourse, we delve into the intricate dynamics of business ownership and the profound concept of "exiting without exiting." This episode features an enlightening conversation with the distinguished entrepreneur, Jason Duncan, who elucidates strategies for entrepreneurs to liberate themselves from the quotidian demands of their enterprises while maintaining ownership.
follow me on IG https://instagram.com/thedustinheiner
Get my new real estate investing software free: incomebuilder.io
Get the FREE Course: https://masterpassiveincome.com/freecourse
Get the 1-on-1 coaching FREE strategy call here: https://masterpassiveincome.com/bookacall
Follow Dustin Heiner on Instagram: https://instagram.com/thedustinheiner
Check out all the other MPI Podcast Network Shows: https://masterpassiveincome.com/network
//BEST REAL ESTATE INVESTING RESOURCE LINKS
Start your LLC for only FREE! https://masterpassiveincome.com/formanllc
Great High Interest Savings Account: https://masterpassiveincome.com/cit
Get your business bank account here: https://masterpassiveincome.com/baselane
Get your business credit card with 2% Cash Back with NO FEE! https://masterpassiveincome.com/amex
Takeaways:
- The Master Passive Income Podcast emphasizes the importance of investing in real estate to achieve financial independence and generational wealth.
- Dustin Heiner, the host, has developed a comprehensive system to assist individuals in transitioning from an employee mindset to a successful real estate investor.
- Listeners are encouraged to take immediate action towards investing in real estate, as procrastination will hinder their long-term success and financial freedom.
- The podcast introduces the concept of 'Exit Without Exiting', which allows business owners to step back from daily operations while maintaining ownership and benefiting from the business.
- It is crucial for entrepreneurs to develop an exit strategy for their businesses early on, ensuring they do not become trapped in a situation without an exit plan.
- The Exeter Operating System (XOS) provides a seven-stage roadmap for business owners to transition from owner-operator to owner-investor, allowing for greater freedom and the ability to scale.
Links referenced in this episode:
Companies mentioned in this episode:
- Master Passive Income
- Real Estate Wealth Builders Conference
- Income Builder IO
- Russell Brunson
- Click Funnels
- Exit Without Exiting
- Root of All Success
financial independence, generational wealth, real estate investing, passive income, exit strategy, business exit, coaching entrepreneurs,...
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
Foreign.
You're listening to the MasterPassive Income Podcast Network.
Welcome to the Master PassiveIncome Show.
My name is Dustin Heiner, andI'm here to help you get financial
independence, creategenerational wealth, and afford anything
you want in life by investingin real estate.
And in today's show, I'm superpumped to be bringing on somebody
who has helped lots and lotsof people build businesses and exit
(00:24):
them, which means sell themfor a lot of money.
And.
And he's going to show us howwe can do it and how you can do it,
too.
All right, let's start the show.
Welcome to the Master PassiveIncome Podcast, where we talk about
investing in real estate witha special focus on making enough
(00:46):
money so you can quit your joband live the dream life.
And now here is your host,Dustin Heiner.
Hey.
Hey, what's up?
Super blessed as always tohave you here with me on the show.
Honestly, like, week afterweek, you coming back, listening.
I really, really appreciateit, honestly.
(01:08):
It gives me encouragement towant to keep putting out this podcast
to help more and more peopleto invest in real estate.
In fact, everything that I'vebuilt here at Master Passive Income,
from all the coaching thatwe've done, seeing thousands of students
now invest in real estate,becoming successful with the Real
Estate Wealth Builders Conference.
And now, you know, I have theIncome Builder IO software.
(01:28):
It's free right now.
Go ahead and get your free trial.
And a trial, it's not a triallike you get a free account if you
go in there.
We're basically testing itout, and it's a beta test, and so
we're just getting a lot ofpeople in there using it.
It's working great, but prettysoon we're going to have to charge.
Okay, well, I've been buildingall of this out.
Honestly, it's been because ofthe podcast.
This podcast has really beenthe, I guess, the flagship of Master
(01:53):
Passive Income and everythingthat I do.
And it shows by.
Whenever I ask anybody, youknow, how'd you hear about me?
It was through the podcast.
So I really appreciate you listening.
Honestly, week after week andeven going back and binging every
single episode, I get, so manypeople say, hey, Dustin, I did not
even need to take your coursebecause I just listened to your podcast
and I got the free course andI invest in real estate, and that's
(02:14):
exactly what I want.
I don't.
I don't need your money.
I make my money through realestate investing.
But in the end, the morepeople that I help serve, or more
people that I serve and Helpthem to invest in real estate.
The better my life gets andthe better their life gets.
So if you have not startedinvesting, definitely continue listening
to show.
I really want you to changeyour life.
That's number one.
But number two, get all myfree stuff and then change your life
(02:37):
by investing.
I absolutely love this proverb.
When is the best time to planta tree?
Well, it was 20 years ago.
The next best time isliterally today.
If you don't plant that treetoday, 20 years from now you'll be
thinking, man, I was listeningto Dustin's show.
I really should have boughtone property back then.
And then I would have scaledto have 10, 20, 30 properties.
(02:58):
But I didn't.
No, you don't want to be that person.
You want to be the person thatin 20 years from now you look back
and say, I'm so glad.
After listening to Dustin'sshow, I decided it was time to invest
in real estate.
Bought my first property, infact, last year I bought one single
family home.
This year I've bought three.
And I've also bought a 350unit apartment complex.
(03:19):
My goodness.
This is just, I spend most ofmy time just hanging out with my
family and it just so happensthat I get all these amazing deals
because everybody knows me asa real estate investor.
I want that for you.
I want you to be changing yourlife because you're investing in
real estate.
And here's another great thing.
So coming up, I'm going to bedoing, and it's a little teaser,
I'm going to be doing amastermind retreat for, for real
(03:42):
estate investors.
This is not Rubecon or theReal Estate Wealth Brothers Conference.
This is a small, intimate retreat.
Two days we're gonna behanging out with me and a few of
my expert real estateinvestors with me.
And it's gonna be curatedjust, and there's an application
process.
We don't just take everybody.
I think we only got 10 spotsleft and this is gonna be two days
(04:04):
hanging out with me.
We're gonna be in Denver inSeptember, middle of September.
Denver is where it's going tobe at.
So I'm going to give that moreinformation next week or the week
after.
But definitely keep that onyour radar or your mind that you
need to be in the right roomwith the right people.
Let me give you an example.
I want to help more people toinvest in real estate.
And I know that because ofMaster Passive Income I have an online
(04:27):
business and so I wanted tolearn from other experts.
So I recently spent $50,000 50, $50,000 to be in a mastermind
with the Russell Brunson hasclick funnels.
It's a software.
But then he also has coaching,business coaching.
Well, it's $50,000 for theentire year.
And there are retreats that Igo to and be a part of because I
(04:51):
want to be around the people.
It's not the coaching, I kidyou not.
Like I everything they talkabout, it's all great stuff.
But I go to be around thepeople because the people who are
are putting their money intoaction getting them in the right
places and in the right room.
That is the people who aredoing something that I want to be
(05:12):
around.
And so that's why I go and bea part of Masterminds.
That's why I go and be a partof other events where other people
are doing things that I wantto do.
And so if you are wanting toinvest in real estate, be on the
lookout.
Pretty soon I'm going to besharing that we are going to be doing
a retreat Mastermind in Denverin September.
So we're, like I said, very,very few people.
(05:33):
Watch out for the link of that.
But you need to be in the roomand there's two ways to get into
the room.
The right room, number one,you take your time and spend your
time getting into the right room.
And that's what I did.
And honestly I wish I wouldn'thave because it took so much longer.
You cannot make any more time.
You cannot earn anymore, youcannot create anymore.
(05:55):
You could always make moremoney, but you can't make more time.
And so what I realize now is Iwish I would have spent the money
because that was saved my life.
I retired at 37 years old.
If I would have spent somemoney and been in a room just like,
you know, $50,000 now, I wouldprobably have been able maybe to
retire at 34, 32, 30 years old.
In fact, my students are nowat 30, 32 years old, becoming financially
(06:20):
independent.
It's absolutely amazing thatif you're in the right room then
things will take off.
In fact, my business explodedonce I started to pay to be in the
right room.
So you can spend your time toget in the right room, which took
me a long time, or you couldspend your money.
If you spend your money, youcould always make more.
In fact, the $50,000 I spent,I've already made more than that
(06:41):
just by being in the room withthe right people, with the things
that I've learned with thecontacts and the networking and being
around the right people.
In fact, next week I'm goingto be going to Cancun.
Cancun.
There's an all inclusive thingthat there.
It's like a seven day retreatfor us.
In the morning you do reallyheavy business stuff, networking,
all that sort of stuff andthen have a great time in the rest
of this.
(07:01):
This, I guess all inclusiveplace with lots of fun stuff, excursion
or something like that, whatever.
I can't remember what the nameof this, but next week I'm going
to go to that.
But it's a business trip.
The great thing is it's avacation and it's a complete write
off because it's a business trip.
But there's so many greatthings about having a business, investing
in real estate, getting in theright room and then spending that
(07:22):
money because you don't wantto spend your time, you want to spend
your money.
Now, today's show I'm superpumped to bring on somebody I met
at another Mastermind eventthat I went to.
He and I were chatting in thehallways and he's got an amazing
business, amazing podcast.
I was recently on his podcastand he and I were talking about business
and about life and about podcasting.
We love chatting with otherpodcasters and we just hit it off.
(07:44):
And he has helped many peoplewith businesses grow their business
so that they can exit, whichmeans sell their business.
Now, you may not have abusiness, but if you're investing
in real estate, then that willhopefully get you to be financial
independent and that will giveyou 40 plus hours of your life back
to build businesses and thenyou could exit them or you might
(08:06):
already even have a businessor honestly you might even have real
estate that you're like, youknow, I want to exit this.
Well, you can.
And my guest who I'm bringingon today is a fantastic entrepreneur
and also wrote a fantasticbook as well, which I'll get into
just a second.
But let's bring on my guest,the real Jason Duncan on the show.
All right, here we go.
Welcome to Master PassiveIncome Podcast.
(08:27):
My name is Dustin Heiner andI'm here to help you quit that job,
that just over broke job byinvesting in real estate and having
businesses so you never haveto work a job again.
Today I'm super pumped tobring on a fantastic business owner.
He also has coached manybusinesses to become very, very successful
and also teaching them how toexit but exit meaning selling but
at the same time exit without exiting.
(08:49):
He has a best selling book, itis Exit without Exiting as well as
a fantastic podcast Root ofall success podcast.
I have the real Jason Duncanon the show.
Jason, thanks so much forbeing on the show, man.
I'm honored to be here, andthis is fantastic.
So as we met, we just startedchatting about how.
How much fun it is podcastingand how long we've been doing it.
(09:11):
So it's always terrificmeeting people who've been doing
podcasting longer than, like,a year, because, man, I meet a lot
of people that are podcastingand they've been doing it for about
a year, and it's like, oh,that's great.
Good for you.
But, you know, meetingsomebody's been doing it for quite
a while is always a blessing.
Now, you love to helpbusinesses, but you didn't start,
you know, helping business businesses.
I mean, you're a teacher, youknow, school teacher and being unemployed,
(09:33):
which I like being successfulin a point where you have money coming
in outside of your job.
But tell us about how you wentfrom a school teacher into being
a business owner now coaching businesses.
So I started teaching schoolin 2007 after 13 years being a pastor.
So I had been a pastor for avery long time, got sick of doing
that.
(09:54):
I said, I can't do this anymore.
I got to go somewhere elsewhere I can make a difference.
And so I went back to school,got a master's in education, started
teaching teaching school,taught 8th grade American history,
and absolutely loved it.
I didn't think I'd ever doanything different.
And then in 20, the spring of2011, my principal came to me and
said, hey, we need to talk.
I said, oh.
(10:14):
So he said.
He said, man, you know, theGreat Recession, because that was
coming out of the GreatRecession, which I'm sure as a real
estate investor, you're veryfamiliar with that.
He said, we have to cut twoteaching positions for next year,
and you're the last guy hiredin the building.
You don't have tenure.
And that's how I have to makethat decision now.
I was the number one teacherin the county in my subject area.
(10:35):
I was a model teacher.
People would come and watch me teach.
I had my administrator's license.
I planned on being ineducation forever.
Now I was making 38 grand ayear, and my wife was working full
time.
So, you know, we had, I don'tknow, probably household income of
70 to 80,000.
We lived in a.
What we thought was going tobe our forever home.
(10:56):
We things, life was good.
And then here I'm getting therug pulled out from under me as doing
the thing that I thought thatwas tough.
That was really.
That was April 2011.
Now, in March of February,March of 2010, I started a company
with a friend of mine.
It was his idea.
I had nothing to do with it.
(11:17):
I didn't want anything to dowith it.
And I kind of did itreluctantly with him.
And so we had been doing thatbusiness on the side, and it was
an energy business.
We were doing hydrogen and ethanol.
Nothing I was interested in,but it was fun.
It was cool.
It was something to do.
We weren't making any money.
And so I.
When I knew I wasn't going toteach, I first thought, I'm going
(11:40):
to go get another teaching jobat another school.
But there weren't any to be had.
I mean, everybody's having thesame problem.
Well, everybody's having thesame problem.
And I didn't want to move.
I mean, I guess I could havemoved and I could have got a job,
but, you know, this is ourhome, Middleton city, the Nashville
area is our home.
And we didn't want to move.
And so I applied at everyprivate school, every public school
in middle Tennessee.
Nobody was hiring.
(12:01):
No, I couldn't get a job tosave my life teaching.
And so I was walking this linebetween, do I.
Do I take this corporate jobwhich will essentially make me not
be able to pursue thebusiness, or do I go to the business
which is not making any money?
It's not making any money.
And that's a decision?
Yes.
My wife would say, there's no decision.
You know, what you do well.
So I knew that the ethanol andthe hydration hydrogen wasn't going
to work.
(12:21):
But I thought.
I looked at the.
At the marketplace at thetime, and LED lighting was just becoming
something people were considering.
I thought, we have this energyconcept company already in place.
Why don't we just retool itand do LED lighting rather than ethanol
and hydrogen?
Let's do that instead.
My business partner didn'tthink that was a good idea.
So we separated and he wenthis own way and I had this business
(12:42):
and I said, I might try this.
And I was going back and forth.
Well, the guy that I wasinterviewing with this corporate
job for, he kind of got thesense that I wasn't interested in
the job.
I had interviewed three timesor whatever the number was, and I
kept putting him off.
Hey, can you give me a couplemore weeks?
Can you get a couple more weeks?
And he called me and he said.
He said, jason, it sounds tome that you are not interested in
this job.
(13:02):
So we are formally withdrawingour offer.
Or our intent to pursue.
And so that was what I neededto push me over the edge.
And so I decided I'm goingfull in on the business.
And I told my wife, I said,babe, here's the thing.
August 15th is my lastpaycheck from the state.
If I don't have a deal comein, my money coming in by then, I'll
go get a real job.
And she was okay with that.
(13:24):
I mean, neither of us, wedidn't even know how to spell entrepreneur.
We didn't know what that word meant.
And I thought, okay, whatever,we'll try it.
August 12th, I got a deal.
Whoa.
Three days before my selfimposed deadline.
Yeah, it's pretty cool.
It's a pretty cool story.
And this is the LED company?
Yes, it's the LED company.
So, so that deal, the part ofthat, that deal, it was a, it was
(13:46):
a hospital here in middle Tennessee.
And so I like retrofitting thelights, retrofitting their lights
to LED.
So I've taken out all the T12fluorescent lights that were using
tons of energy, creating a lotof heat in the building and putting
an led.
And it was going to save thema quarter of a million dollars a
year in energy costs alone.
And we, we signed that project.
It ultimately ended up being a$2.3 million project.
(14:07):
It took about three years to complete.
The first check I got was only18 grand, so it wasn't like a lot
of money.
But the first big check I gotwas $626,000.
And it's like, okay, this is crazy.
I made 38 grand as a teacher,and now here I've got a check with
my company's name on it for $626,000.
I'm going to the bank.
(14:27):
And my banker looked at melike, what is going on?
Because they, they knew me.
I banked with them a long timeand I'd open up this, this business
checking account with like 100 bucks.
And here we are, cash in a$626,000 check.
What'd you do with the company?
Do you still own it?
No.
So in 2020, I exited dailyoperations and went through a four
(14:48):
month identity crisis.
Didn't know how to introducemyself, didn't know, who am I, what
am I doing in life?
And I had a coach and mentor Iwas working with, and he helped me
kind of understand that, youknow, I'm a teacher, I'm a leader.
I need to use those gifts toserve others and to enjoy the life
that, that I've been givenand, and how, but how do I do that?
I didn't know how to do that.
But, but out of that process,people would ask me, so you, hey,
(15:11):
you exited your companybecause they knew I wasn't working
in it.
I'd already moved my office, Iwasn't working in the office at all,
my employees were still there.
And I said, no, I exited.
And they said, well what?
Like did you sell?
No, I didn't sell.
So I, I exited without exiting.
And that was the first timethat phrase, that concept really
became a reality.
And so as I started tellingpeople that it became intriguing
(15:32):
to people.
And ultimately, long storyshort, ultimately I kind of doubled
down on that messaging,started coaching people on how to
do the same thing.
I wrote the book Exit WithoutExiting, telling my story of how
I exited the business.
And I, I maintained fullownership of that business until
the end of 2023.
And I, I ultimately exited totally.
(15:54):
So I don't own the business anymore.
But that was how Exit WithoutExiting was born.
That's, that's inspiringbecause you know, people think there's,
you know, you get intobusiness, you get into real estate,
you get into any type ofendure endeavor where you're investing
money or building something,then a good thought is how, what
are we going to do in the very end?
Like are we going to exit orare we just going to hold on to perpetually
(16:17):
and then eventually figure outwhat we're going to do?
But thinking of exiting,whenever I coach somebody how to
invest in real estate, a lotof people think they asked me the
question, well, Dustin, I havethis property, should I sell it or
should I keep it?
I'm like, well what's thepurpose of selling?
Oh, I want the capital to beable to buy something else or do
whatever they want with the money.
I said, well, why don't welook at instead of selling?
(16:40):
Because then you no longerhave a property that makes you money.
Because if you buy a propertymakes you money in cash flow, then
you're not going to have thatproperty makes you money and it's
not going to continue to grow equity.
How about instead we dosomething, we figure out another
way to get that money, whichis what you want.
Let's do a cash out refinancewhere it's a tax free loan from the
bank and you don't have to paytaxes on it.
Just like if you sold it, youhave to pay taxes.
(17:01):
Same thing.
If you get the cash in yourpocket without having to pay taxes,
then you still have theproperty making you money.
And then use that to make more money.
Is that the type of thinkinglike when you have a business, when
you talk about exiting withoutexiting, is it you get people in
place, systems and proceduresand processes.
Is there also any way to tapinto that equity that you built in
(17:22):
that business?
I'm sure there's a way to tapinto the equity, but that is a whole
different conversation.
So exit without exiting isreally about getting yourself out
of the weeds of daily operations.
Think about it this way.
There's three tiers of theentrepreneurial evolution.
Tier one at the bottom of the pyramid.
If you think about this interms of like a pyramid or triangle,
tier one is the owner operator.
(17:44):
90, 95% of entrepreneurs neverexit the owner operator stage.
That means they're focused on activity.
They don't even understand thebusiness is an asset.
They're just focused onactivity and revenue, that's it.
And everything revolves around them.
If they're not there, itdoesn't get done.
And that's where mostbusinesses are today.
And you know what, if that'swhat entrepreneur wants to do, you
(18:04):
just need to understand you'renot really an entrepreneur, you're
a business owner.
And there's nothing wrong with that.
That's just what it is.
Then there's tier two andthat's an owner manager.
And I'd say, I don't know, 2to 5%, maybe, maybe 5 to 8%, depending
on which, which studies youlook at.
Entrepreneurs move into ownermanager and this is where the business
still relies on them, butthey're not doing the activity.
(18:26):
They're.
They actually have teams andprocesses and employees to do that
for them.
But if they're not there, it'sstill going to, the business will
suffer.
And that's where I was.
I was an owner manager.
I had a really competent teamthat was doing most of the daily
operations, but they stillrelied on me to move the ball forward.
I was still there every day, Iwas still in every meeting, I still
(18:47):
led every meeting.
But I wasn't selling, I wasn'tdoing the projects, they were doing
that.
Tier three is owner investor.
And now very fewentrepreneurs, 2% entrepreneurs,
ever reach this.
And that is an entrepreneurwho is looking at the business as
an asset, not as an activity,not as a job, not as something they
have to do.
(19:08):
And I think the most slept onpassive income strategy for business
owners is the fact that youcan own a business as a passive investor,
just like you can in real estate.
I mean that's your whole gameis passive ownership of these companies,
these businesses that Are realestate financially, financially set
up as real estate, you can dothat as a business owner.
You can own an ice cream shop,a cigar shop, a car dealership, a
(19:29):
lighting company, whatever it is.
And if you set it up the rightway and become an owner investor,
you can actually qualify forpassive income tax treatment.
If you work.
And I'm not an, I'm not an accountant.
So everybody who's checkingthis, you can go look, talk to your
person.
Anytime you hear, unlesssomebody is an actual accountant,
anytime you hear any advice,talk to your accountant.
(19:50):
So, so if you are workingactively less than 750 hours a year
in that business, thattypically will qualify you to earn.
All that money earned ispassive, which means no Social Security
tax section, among other things.
There's other things it woulddo, but only, most people only think
of that in terms of real estate.
Well, if I'm real estateprofessional and I make $200,000
(20:10):
in passive income, that's notgoing to be taxed on Social Security.
There's other tax benefitsbecause it's passive, you don't have
to pay tax on it.
Well, you could do that in abusiness as well.
I like that idea.
I like it because, well,that's one thing I love, passive
income.
Because when you build abusiness that has inventory, doesn't
matter, it could be realestate inventory, it could be candy
(20:31):
bars like whatever yourcompany, your business owns.
If you are able to figure outa way to make sure that other people
are doing the work that they,that the business can grow without
you, then you have much moretime on your hands where you can
do whatever you want, buildmore businesses.
That's what I love to do.
Now it sounds like a companyhas to have a lot of revenue in order
to get there because you haveto hire the right people.
(20:51):
Is there like a stepping stoneor like maybe a roadmap that somebody's
starting the business and thenthey got to go through a couple steps
before they can actually dothat because they have to have enough
revenue, having a right teamand all that sort of stuff.
And I want to pause for just aquick second and say thank you.
So much for listening to the show.
If you've gotten anything outof the.
Show, I would appreciate it if you.
(21:12):
Went to anywhere that youlisten to.
Say Apple or Spotify orwherever and leave a five star review.
Honestly, I really appreciateyou leaving an honest review.
I just love giving all thisinformation out and I want to see
you succeed.
Also send this to one person,just tell one person, say, hey Dustin,
wants to help a million peopleto invest in real estate.
You need to listen to thisbecause it's going to change your
(21:33):
life.
Lastly, get my real estateinvestment course completely for
free.
Text the word rental R E N.
T A L rental to 33777 rental.
The 33777.
I'll literally give you mycourse showing you everything in
the business so that.
You can become financially independent.
But we've created a roadmap.
(21:54):
So we created xos, which isthe Exeter XOS Exeter Operating system.
And it's a seven stage systemto show you how to move from owner
operator, owner manager intoowner investor.
Now you asked, is there acertain amount of revenue that they
need?
There's not a hard and fast number.
But before I answer thatquestion, and don't let me forget
to go back to the revenuequestion because I want to address
(22:16):
that, but I need to addresssomething else.
You're talking about this ideaof, of passive ownership.
We're talking about is thererevenue to get to places, all that
type of stuff.
Well, think about this.
Your business has to have anexit plan or it is a dungeon.
(22:36):
If you build a business abuild a bit a building, build a building
with one way in, one way out,that's a jail, that's a dungeon,
right?
There's no exit, you go tojail, there ain't no out.
This is a one way in, youain't getting out.
Well, businesses are the same way.
We build businesses with oneway and no way out.
And I did that as anentrepreneur starting that business
in 2010.
(22:56):
I sure as heck didn't thinkabout what it's going to be in 2020
when I exit, or 2023 when Ifinally exit.
I didn't think about that andI didn't even contemplate it until
2018.
And even at that point, Ididn't understand what it really
was going to look like.
So how many business ownerstoday, perhaps listening to the show,
have never even sat down andthought, oh, what is going to happen?
(23:16):
Because you may say, well no,I love doing what I do, I don't want
to do anything else, that's fine.
I.
But you will exit thatbusiness, period.
There is nobody who won't exit.
Because you're either going todie, exit in the coffin or you're
going to succeed it to your,your kids who may or may not want
it, or you're going to sell itto somebody else or you're going
to shut it down, which is whata lot of businesses are doing today.
(23:36):
The baby Boomer Wave.
Right now most of thosebusiness are shutting down because
they have no exit plan.
By the way, call me, I canhelp you figure that out.
But that, so there's that.
Now going back to yourquestion about the revenue, there's
no hard and fast number butthe reality is you can't set your
business up to exit if you'rethe only person working in the business.
It just doesn't it, you arethe business because you are the
(23:58):
business.
You're a job owner, not abusiness owner.
So could an individual runninga single shingle, I call it single
shingle, a single shinglebusiness be doing 10 million revenue?
Could they?
For sure.
And is that an exitable business?
Yeah, I'm sure there's aninvestor somewhere that look at that
and go something weird'shappening here.
I could step in and even if itgoes down to 5 million, still great.
(24:21):
Yeah but that, those are anomalies.
The normal business, runningan ice cream shop, running a sandwich
shop, whatever, you got tohave a certain number of dollar amount
of revenue in order to buildsystems that are going to allow you
to exit.
So yes.
So in the Exeter club, themastermind that I lead, we, we only
take people who are doing atleast 3 million in revenue or more
or caveat at least 300k inbottom line net profit.
(24:44):
So we have some people thatdon't do a million in revenue but
they're high margin businesses.
And the reason we, the reasonwe have these financial guidelines
to be in the Exeter club isbecause we know you're going to have
to make some hires, there'sgoing to be some investments plus
you got to be able to affordthe services that we're providing
because in the Exeter club andwe, we have a, we have a finance
coach, we have a legal coachwith an investment banking coach.
(25:06):
You get a free valuation whenyou become come in.
So we'll show you that we havea mindset coach, we have a wealth
manager all on our team.
And so that's not free, that'snot inexpensive.
It is an investment in the mastermind.
So that's why we have thefinancial requirements so to go through
those seven stages of the XOS method.
Stage one is basic delegation.
Stage two is assemble yoursupport squad.
(25:27):
You got to have the people onyour team like a transaction coordinator
in the real estate world or anadministrative assistant.
Step three is your A team.
You start building themanagement team that's going to be
able to manage the, you know,manage the business while you're
not there.
And then step Four is when youstart systematizing things and automating
things.
Most coaches, that's thedifference between me and most coaches,
they start at step four.
Hey, just gotta have the right systems.
(25:48):
If the systems have nodelegation plan and they still rely
on you as the owner, it's justa system that relies on you.
Is it better than no system?
For sure.
But it ain't gonna make yourbusiness exitable.
And then step five is gonna bedoing the optimizing your cash flow,
like creating a cash flow machine.
So we'll show you how to setyour business up for.
There's recurring revenue,there's reoccurring revenue, and
(26:10):
there's project revenue.
So we'll show you how tofigure out how to get to those.
And then step six is exitwithout exiting.
And there's where you get tothe real choice.
Do I maintain ownership or doI sell?
Which is step seven.
And we can actually help you sell.
We have one client goingthrough a sale right now, and our
whole team can help with that.
We got the M and A attorney,we've got the investment banker.
(26:30):
We can do all that.
That's fantastic.
Especially when somebody isgoing through the business and starting
from scratch.
And then, I mean, it's noteasy to scale your business if you
don't know what you're doing.
You know, just if let's youfigure out you have a product you
want to start selling, thatyou can start that business and then
hire a couple people becauseyou realize, oh, I got to, you know,
get other people, do the work.
(26:51):
But getting that roadmap toget to the point where you are understanding
how to build the businessinstead of working in the business,
I love that.
What is your thought abouthaving the business?
At what point in this roadmapis it where you build the business
so that.
Not that it can run withoutyou, that's good, but then grow without
you and increase in revenuewithout it, without you.
(27:12):
That step six is that.
Because I know seven isexiting without exiting.
I think it starts with stagethree, which is getting your.
Your A team together.
And I think we don't.
We don't put enough stock inour A team.
Entrepreneurs who would be theA team.
Like, so your A team is yourmanagement team, your coo, your cfo,
your, Your general manager,your operations director.
(27:33):
They're the people that areactually calling the shots day to
day.
So if you think about thosethree tiers, the owner, operator,
owner, manager, owner,investor, owner, managers start replacing
themselves as manager.
That's why they can move up sothey got to have the A team to take
over those slots in the middle.
So I think entrepreneurs bynature are pretty egotistical, pretty
(27:55):
self centered and some ofthose are in negative ways.
But a lot of that's just inthe natural way that, hey, I'm the
best dude at this job.
Nobody can do it better than me.
Okay, that's probably true, atleast for a time.
But if we hang on to thatmentality, I call that the hero syndrome.
If we hang on to the herosyndrome, we stifle our business's
ability to grow without us.
(28:15):
It might be able to operatewithout us.
We might be able to go awayfor three weeks, but when we get
back, our inbox has 10,000email messages and we missed a hundred
texts and everything stalled,it kept going, but it stalled until
we got back.
That is not what I'm talking about.
So the A Team Stage 3, I thinkis the biggest place where you're
to answer your question, wherethat starts happening is we've got
(28:36):
to start thinking about who dowe put in there.
And you got to be able totrust them.
You got to hire them as theright fit for the organization more
than their abilities becauseyou can train ability, you can't
train fit.
So you got to make sure thatthey fit.
And then when you move tostage four, that system systemization
and optimization automation,that's when you put them in charge
(28:57):
of making those things happen.
Because even if they're onvacation, the system should still
work.
That's yeah, 100.
And when it can run withoutyou and grow without you, it seems
like it's exitable withoutexiting, as you say, because you
have the everybody else doingall the work for you.
So if somebody were to getstarted in the process, you know,
(29:18):
they already have a business,they're already making some money.
And so is one of the best waysto get started is not the systems.
Like you said, we got to getthe right people in place.
That's usually, you know,finding somebody on LinkedIn or you
know, is, is there, do youhave a maybe like a hack to find
good people?
I do.
I'm glad you asked that.
(29:39):
And you didn't know this.
We didn't set this.
So we teach in the Exeter Cluba 10 step process for finding, hiring,
onboarding and training theright teams.
And I'll give you a recentsuccess story.
So we've got a client whojoined the Exeter Club late last,
late last year, can't rememberwhen it was.
(29:59):
November, December.
And he has a very small business.
It's all online.
He has one full time employeeand she is more of a, a doer.
She's not a manager.
Like, she's, she's doing stufflike writing copy and she's maintaining
some of the stuff on the website.
But she's, she's a doer, she'snot a manager.
(30:21):
And as he came into theExorcist Club and started getting
exposed to everything weteach, it was pretty natural for
him to go, I have to have an A team.
I already have a support squad.
I don't need many.
Like, she used the support squad.
I've got to have an A teammember or I can't.
I will never be able to walkaway from this business.
That was his realization.
So we showed him our system,our ten step system.
(30:42):
And this is not indicative ofnormal results, I want to say.
That's what everybody says.
But he, he did our plan.
He had 700 applicants for ageneral manager position, which blows
my mind.
I don't even know how that's possible.
I'm certain that at least halfof those weren't even remotely qualified.
But hundreds of applicants,and I remember the day that they
(31:06):
started rolling in.
He sends me a video clip ofhis screen, like a video recording
on our signal app was how wecommunicate with our clients in the
Exeter club.
And it was just scrolling andscrolling on an Excel spreadsheet.
And I couldn't see it on myphone, I didn't know what it was.
And I wrote back, like, whatam I looking at?
I don't understand.
He goes, this is 700 peoplewho've applied for this position.
What do I do now?
(31:28):
I didn't have that in thething I didn't like.
That has never happened.
So ultimately he called itdown to about 90, 90.
And he did the next step inour process, which culled it down
to I think less than 15.
And he had interviews with, Ithink maybe five or six.
And he hired somebody and itwent fast.
He went through that process.
So yes, we do have a processto help you find the right people.
(31:51):
But the other thing that justhappened, like this is the first
time I'm announcing on thepodcast, is that we just partnered
with a national recruitingagency as an exclusive partner with
the Exeter club to providetheir headhunting and recruiting
services.
So now you can do it yourselfand we have a plan for that.
Or if you say, you know what,I'd rather pay a little extra and
I want somebody else to runthe process.
So we now have a partnershipwith a company that has 15 offices
(32:14):
across the United States andthey can recruit in every industry.
So if you need a financialperson, you need an assistant, you
need a salesperson, you needan engineer.
We, the Exeter Club now has apartnership with a company that does
that for our members.
And I've found the more busythat I get, the more likely I am
to say, I just don't have thetime to do this.
I want to, I want to hiresomebody else.
(32:36):
I want somebody else to takecare of this for me.
So many times, like even justrecently, with all the things I,
from buying real estate torunning my online businesses, live
in person events, like allthose things, it just takes up so
much time.
And then I'm like.
Because I'm also pretty frugal.
Like, I'm really, really frugal.
And then it took me to realizeif I don't have an assistant, then
(32:58):
I'm the assistant.
Like, if I'm not payingsomebody, let's say 25 bucks an hour,
then I'm my time, because I'mdoing that assistant type stuff is
$25 an hour.
I'm like, I know I'm worthmore than that because I make a lot
more than that.
And so I'm like, so it wakesme up to realize in finding the right
people to put in place, itreally just more frees you up.
It frees you up to have more time.
(33:19):
Because in the end, what I tryto do is build businesses that are
more passive, where I haveother people doing work, I have my
properties work for me.
You know, let's say myconference, having people come and
I have awesome people thatrun, run the business as opposed
to me doing it.
But then also like gettingquick back to the idea being able
to pay somebody to buy backyour time, to have your time, because
(33:39):
that's the one commodity youonly spend, you can't create, make,
earn, or get any more of.
And so if you could spend thatlittle bit of money, it could be
a lot of money.
But then to give a year, twoyears of your life back, how valuable
is that?
So once somebody does exitwithout exiting, what's the next
step?
Do you guys walk anybody through?
Like, okay, now your life is different.
(34:00):
Let's see what we can do differently.
That's part of what we focuson, is how do you prepare for the
next stage, how do you getready for that next, this next big
opportunity?
Because most of the guys wework with are probably in their 30s
and 40s, 50s maybe.
We have one guy is an 80.
This is pretty cool.
We Love him.
He's awesome.
(34:20):
He's been in business longerthan all of us have been alive.
You know, this is pretty cool.
But, but most of what I'msaying, that is most of the guys,
I have no intention of hangingit up and going.
Sitting on a beach like that'snot their retirement is.
I'm not part of that either.
Yeah.
And most of us are not like that.
Some are.
And some are ready like, I'm done.
I put my 40 years in, I'mready to go.
But most are going to wantanother thing.
(34:41):
They're going to want anotherbusiness, another opportunity.
The guy that we're workingwith right now in the exerclub to
sell his business, is he, he.
I think I, I want to say he'sin his 30s and he started this business
by himself.
It's a service based, homebased business and it's, it's doing
great.
And he's like, I don't want todo this anymore.
I am not interested.
I have another thing I want to do.
(35:02):
I want to do some traveling.
Okay, that's cool.
So his next step, he's gotfigured out and we're helping him,
helping them put that together.
So we have, we have a plancalled the X Plan and the X plan
framework is examine.
Like first of all, what is itthat you want?
Do you want to retire or doyou want to start another business?
You want to buy anotherbusiness or you want to spend time
(35:22):
with family?
You want to go on a missiontrip for three years, what do you
want to do?
That's examine.
P is prioritize.
Like what are your priorities?
What are you wanting to accomplish?
And then L is leverage.
What can you leverage to get there?
There is it people, Is it systems?
Is it money?
A is activate.
Okay, how are you going toactivate this to make it happen?
Then N is where you'reactually going to make that.
Make the necessity of what youhave to accomplish to make it, make
(35:45):
it all come down.
So you've got to go throughand navigate.
That's what the N stands for.
I said in the sense, it's navigate.
You navigate the system byputting in the, the, the, the, the
stop signs along the way.
Okay, at 30 days, this betterhappen at 60 days, this better happen
at 90.
We've got another client, hehas his business listed for sale.
And he came into the exorclubthinking, I want you guys to help
(36:08):
me figure this out.
So before, before anything, healready had it listed, came in, said,
can you help us get throughthis process?
And what we discovered is hisbusiness was not ready.
He had a lot of things heneeded to put together.
That doesn't mean it wasn't agreat business.
He has a great business.
It just wasn't ready.
So he wondered, well, why I'mnot getting any offers, why nobody
looking at this and our, ourcoaching team looked at it, said
(36:28):
here's why and he gets it.
But his X plan is leading to.
He has bought a three yearround the world trip on a, on a cruise
ship.
I'm not, I've never even knownthis existed.
But he did, he bought thisthing and he's like, I leave in September
of 2025.
So when he came in last, latelast year, he's like, we got to get
(36:50):
this thing done by 2025.
And so we met with himrecently to kind of get more of his
X plan put together and I toldhim, dude, I don't see how we're
going to be ready by September.
Said how does that change your life?
How does that change whatyou're going to accomplish?
He said, well there's going tobe some things that happen.
And so what we're doing iswe're going back and look at the
(37:11):
L and the plan, the leverage.
What can we leverage to getyou on the boat but you're still
going to have to operate thecompany from remotely.
Are you open to that?
Yeah, yeah.
Now ultimately originally hewanted to step away and have it done.
Soldiers out.
But now he started tounderstand the exit without exiting
mentality.
Oh, so with a laptop andInternet connection, which he won't
(37:31):
have, he won't have theInternet everywhere but he's gonna
have it most places he goes,he said, so I can actually leverage
that opportunity and I couldrun it.
And the way that deal works ispretty cool, is he can disembark
anywhere on the journey, comeback home, spend a month or two and
then go back and hop on theboat at the next stop, which I didn't
know.
This is pretty cool.
Yeah, like he actually boughta lease, a 15 year lease on this
(37:53):
boat.
It's pretty cool.
But it's a three year journey.
They do every three years,keep cycling.
That's not me.
I wouldn't do it.
I wouldn't.
That's what he wants to do.
So what we're doing with himis we're coaching him through how
to leverage.
That's what the L is toleverage through.
How do you, how do you make it happen?
Because you got your priority.
His ex, what he wanted tobegin with his examine was I want
to sell.
(38:13):
He's like, ah, you know what,I'll exit with that.
Exit.
Okay, now priorities, what'syour priorities?
I have to get operations andsales covered.
Okay, then how do we leverageto get that covered so that you can
get on the boat and then activate.
The activate part is westarted picking dates, okay, 30 days.
You have to have this happen.
If you don't hit this 30 daywindow and this hasn't happened,
if you get lazy, you're notgoing to be able to accomplish this.
(38:34):
You're going to not get on theboat in September.
And then 60 days and then 90days, we're running that through.
And then, and then thenavigate part, which is funny because
he's getting on a boat.
Navigate.
So the navigate part is we'regoing to help him navigate this whole
thing.
That's the whole point of theexercise club.
Man, this is, this is fantastic.
I love talking about business.
In fact, even though I investin real estate, what it comes down
to is I'm not an investor.
(38:55):
I'm a business owner.
My business owns inventory,which is my properties.
I just love every type of business.
So this is.
We could talk forever, ButJason, I know people want to reach
out to you, find you.
How can they find you online?
How can they connect with you?
You just Google the real JasonDuncan, you're going to find me.
You can.
If you ever use.
Have you ever used Perplexity?
No, I have not.
That's the coolest.
(39:15):
It's the coolest new AI.
Perplexity.
AI.
This is not what.
It's only, you know, itdoesn't only do what I'm about to
tell you, but you can go inthere and put who is.
And then the person's name.
Now obviously, if it's JohnSmith or David Jones or something,
there's too many of those.
But there's not many DustinHeiners in the world.
And if you just put the realJason Duncan, who is the real Jason
(39:36):
Duncan?
You'll find everything outthere about me.
As a matter of fact, you'regoing to be on my show, the Root
of All Success soon.
And that's part of how I puttogether the show notes and the questions
I'm going to be asking you.
I went to Perplexity, AI did that.
But anyhow, just Google thereal Jason Duncan.
Instagram the real JasonDuncan, YouTube the real Jason Duncan.
That's where you're gonna find me.
And check out his podcast, theRoot of All Success.
So, Jason, thank you so much.
(39:57):
For being on, man.
It's an honor, man.
Thanks for having me.
And that is it for today.
Go ahead and get my free realestate investing course.
Texas word rental to 33777.
R E N T A L to 33777.
You can also join my real estate.
Wealth Builders group coaching.
Get all my courses.
All right, guys, we'll see youin the next show.
See ya.
Foreign.
You're listening to the MasterPassive Income Podcast Network.
Welcome to the Master PassiveIncome Show.
My name is Dustin Heiner, andI'm here to help you get financial
independence, creategenerational wealth, and afford anything
you want in life by investingin real estate.
And in today's show, I'm superpumped to be bringing on somebody
who has helped lots and lotsof people build businesses and exit
(00:24):
them, which means sell themfor a lot of money.
And.
And he's going to show us howwe can do it and how you can do it,
too.
All right, let's start the show.
Welcome to the Master PassiveIncome Podcast, where we talk about
investing in real estate witha special focus on making enough
(00:46):
money so you can quit your joband live the dream life.
And now here is your host,Dustin Heiner.
Hey.
Hey, what's up?
Super blessed as always tohave you here with me on the show.
Honestly, like, week afterweek, you coming back, listening.
I really, really appreciateit, honestly.
(01:08):
It gives me encouragement towant to keep putting out this podcast
to help more and more peopleto invest in real estate.
In fact, everything that I'vebuilt here at Master Passive Income,
from all the coaching thatwe've done, seeing thousands of students
now invest in real estate,becoming successful with the Real
Estate Wealth Builders Conference.
And now, you know, I have theIncome Builder IO software.
(01:28):
It's free right now.
Go ahead and get your free trial.
And a trial, it's not a triallike you get a free account if you
go in there.
We're basically testing itout, and it's a beta test, and so
we're just getting a lot ofpeople in there using it.
It's working great, but prettysoon we're going to have to charge.
Okay, well, I've been buildingall of this out.
Honestly, it's been because ofthe podcast.
This podcast has really beenthe, I guess, the flagship of Master
(01:53):
Passive Income and everythingthat I do.
And it shows by.
Whenever I ask anybody, youknow, how'd you hear about me?
It was through the podcast.
So I really appreciate you listening.
Honestly, week after week andeven going back and binging every
single episode, I get, so manypeople say, hey, Dustin, I did not
even need to take your coursebecause I just listened to your podcast
and I got the free course andI invest in real estate, and that's
(02:14):
exactly what I want.
I don't.
I don't need your money.
I make my money through realestate investing.
But in the end, the morepeople that I help serve, or more
people that I serve and Helpthem to invest in real estate.
The better my life gets andthe better their life gets.
So if you have not startedinvesting, definitely continue listening
to show.
I really want you to changeyour life.
That's number one.
But number two, get all myfree stuff and then change your life
(02:37):
by investing.
I absolutely love this proverb.
When is the best time to planta tree?
Well, it was 20 years ago.
The next best time isliterally today.
If you don't plant that treetoday, 20 years from now you'll be
thinking, man, I was listeningto Dustin's show.
I really should have boughtone property back then.
And then I would have scaledto have 10, 20, 30 properties.
(02:58):
But I didn't.
No, you don't want to be that person.
You want to be the person thatin 20 years from now you look back
and say, I'm so glad.
After listening to Dustin'sshow, I decided it was time to invest
in real estate.
Bought my first property, infact, last year I bought one single
family home.
This year I've bought three.
And I've also bought a 350unit apartment complex.
(03:19):
My goodness.
This is just, I spend most ofmy time just hanging out with my
family and it just so happensthat I get all these amazing deals
because everybody knows me asa real estate investor.
I want that for you.
I want you to be changing yourlife because you're investing in
real estate.
And here's another great thing.
So coming up, I'm going to bedoing, and it's a little teaser,
I'm going to be doing amastermind retreat for, for real
(03:42):
estate investors.
This is not Rubecon or theReal Estate Wealth Brothers Conference.
This is a small, intimate retreat.
Two days we're gonna behanging out with me and a few of
my expert real estateinvestors with me.
And it's gonna be curatedjust, and there's an application
process.
We don't just take everybody.
I think we only got 10 spotsleft and this is gonna be two days
(04:04):
hanging out with me.
We're gonna be in Denver inSeptember, middle of September.
Denver is where it's going tobe at.
So I'm going to give that moreinformation next week or the week
after.
But definitely keep that onyour radar or your mind that you
need to be in the right roomwith the right people.
Let me give you an example.
I want to help more people toinvest in real estate.
And I know that because ofMaster Passive Income I have an online
(04:27):
business and so I wanted tolearn from other experts.
So I recently spent $50,000 50, $50,000 to be in a mastermind
with the Russell Brunson hasclick funnels.
It's a software.
But then he also has coaching,business coaching.
Well, it's $50,000 for theentire year.
And there are retreats that Igo to and be a part of because I
(04:51):
want to be around the people.
It's not the coaching, I kidyou not.
Like I everything they talkabout, it's all great stuff.
But I go to be around thepeople because the people who are
are putting their money intoaction getting them in the right
places and in the right room.
That is the people who aredoing something that I want to be
(05:12):
around.
And so that's why I go and bea part of Masterminds.
That's why I go and be a partof other events where other people
are doing things that I wantto do.
And so if you are wanting toinvest in real estate, be on the
lookout.
Pretty soon I'm going to besharing that we are going to be doing
a retreat Mastermind in Denverin September.
So we're, like I said, very,very few people.
(05:33):
Watch out for the link of that.
But you need to be in the roomand there's two ways to get into
the room.
The right room, number one,you take your time and spend your
time getting into the right room.
And that's what I did.
And honestly I wish I wouldn'thave because it took so much longer.
You cannot make any more time.
You cannot earn anymore, youcannot create anymore.
(05:55):
You could always make moremoney, but you can't make more time.
And so what I realize now is Iwish I would have spent the money
because that was saved my life.
I retired at 37 years old.
If I would have spent somemoney and been in a room just like,
you know, $50,000 now, I wouldprobably have been able maybe to
retire at 34, 32, 30 years old.
In fact, my students are nowat 30, 32 years old, becoming financially
(06:20):
independent.
It's absolutely amazing thatif you're in the right room then
things will take off.
In fact, my business explodedonce I started to pay to be in the
right room.
So you can spend your time toget in the right room, which took
me a long time, or you couldspend your money.
If you spend your money, youcould always make more.
In fact, the $50,000 I spent,I've already made more than that
(06:41):
just by being in the room withthe right people, with the things
that I've learned with thecontacts and the networking and being
around the right people.
In fact, next week I'm goingto be going to Cancun.
Cancun.
There's an all inclusive thingthat there.
It's like a seven day retreatfor us.
In the morning you do reallyheavy business stuff, networking,
all that sort of stuff andthen have a great time in the rest
of this.
(07:01):
This, I guess all inclusiveplace with lots of fun stuff, excursion
or something like that, whatever.
I can't remember what the nameof this, but next week I'm going
to go to that.
But it's a business trip.
The great thing is it's avacation and it's a complete write
off because it's a business trip.
But there's so many greatthings about having a business, investing
in real estate, getting in theright room and then spending that
(07:22):
money because you don't wantto spend your time, you want to spend
your money.
Now, today's show I'm superpumped to bring on somebody I met
at another Mastermind eventthat I went to.
He and I were chatting in thehallways and he's got an amazing
business, amazing podcast.
I was recently on his podcastand he and I were talking about business
and about life and about podcasting.
We love chatting with otherpodcasters and we just hit it off.
(07:44):
And he has helped many peoplewith businesses grow their business
so that they can exit, whichmeans sell their business.
Now, you may not have abusiness, but if you're investing
in real estate, then that willhopefully get you to be financial
independent and that will giveyou 40 plus hours of your life back
to build businesses and thenyou could exit them or you might
(08:06):
already even have a businessor honestly you might even have real
estate that you're like, youknow, I want to exit this.
Well, you can.
And my guest who I'm bringingon today is a fantastic entrepreneur
and also wrote a fantasticbook as well, which I'll get into
just a second.
But let's bring on my guest,the real Jason Duncan on the show.
All right, here we go.
Welcome to Master PassiveIncome Podcast.
(08:27):
My name is Dustin Heiner andI'm here to help you quit that job,
that just over broke job byinvesting in real estate and having
businesses so you never haveto work a job again.
Today I'm super pumped tobring on a fantastic business owner.
He also has coached manybusinesses to become very, very successful
and also teaching them how toexit but exit meaning selling but
at the same time exit without exiting.
(08:49):
He has a best selling book, itis Exit without Exiting as well as
a fantastic podcast Root ofall success podcast.
I have the real Jason Duncanon the show.
Jason, thanks so much forbeing on the show, man.
I'm honored to be here, andthis is fantastic.
So as we met, we just startedchatting about how.
How much fun it is podcastingand how long we've been doing it.
(09:11):
So it's always terrificmeeting people who've been doing
podcasting longer than, like,a year, because, man, I meet a lot
of people that are podcastingand they've been doing it for about
a year, and it's like, oh,that's great.
Good for you.
But, you know, meetingsomebody's been doing it for quite
a while is always a blessing.
Now, you love to helpbusinesses, but you didn't start,
you know, helping business businesses.
I mean, you're a teacher, youknow, school teacher and being unemployed,
(09:33):
which I like being successfulin a point where you have money coming
in outside of your job.
But tell us about how you wentfrom a school teacher into being
a business owner now coaching businesses.
So I started teaching schoolin 2007 after 13 years being a pastor.
So I had been a pastor for avery long time, got sick of doing
that.
(09:54):
I said, I can't do this anymore.
I got to go somewhere elsewhere I can make a difference.
And so I went back to school,got a master's in education, started
teaching teaching school,taught 8th grade American history,
and absolutely loved it.
I didn't think I'd ever doanything different.
And then in 20, the spring of2011, my principal came to me and
said, hey, we need to talk.
I said, oh.
(10:14):
So he said.
He said, man, you know, theGreat Recession, because that was
coming out of the GreatRecession, which I'm sure as a real
estate investor, you're veryfamiliar with that.
He said, we have to cut twoteaching positions for next year,
and you're the last guy hiredin the building.
You don't have tenure.
And that's how I have to makethat decision now.
I was the number one teacherin the county in my subject area.
(10:35):
I was a model teacher.
People would come and watch me teach.
I had my administrator's license.
I planned on being ineducation forever.
Now I was making 38 grand ayear, and my wife was working full
time.
So, you know, we had, I don'tknow, probably household income of
70 to 80,000.
We lived in a.
What we thought was going tobe our forever home.
(10:56):
We things, life was good.
And then here I'm getting therug pulled out from under me as doing
the thing that I thought thatwas tough.
That was really.
That was April 2011.
Now, in March of February,March of 2010, I started a company
with a friend of mine.
It was his idea.
I had nothing to do with it.
(11:17):
I didn't want anything to dowith it.
And I kind of did itreluctantly with him.
And so we had been doing thatbusiness on the side, and it was
an energy business.
We were doing hydrogen and ethanol.
Nothing I was interested in,but it was fun.
It was cool.
It was something to do.
We weren't making any money.
And so I.
When I knew I wasn't going toteach, I first thought, I'm going
(11:40):
to go get another teaching jobat another school.
But there weren't any to be had.
I mean, everybody's having thesame problem.
Well, everybody's having thesame problem.
And I didn't want to move.
I mean, I guess I could havemoved and I could have got a job,
but, you know, this is ourhome, Middleton city, the Nashville
area is our home.
And we didn't want to move.
And so I applied at everyprivate school, every public school
in middle Tennessee.
Nobody was hiring.
(12:01):
No, I couldn't get a job tosave my life teaching.
And so I was walking this linebetween, do I.
Do I take this corporate jobwhich will essentially make me not
be able to pursue thebusiness, or do I go to the business
which is not making any money?
It's not making any money.
And that's a decision?
Yes.
My wife would say, there's no decision.
You know, what you do well.
So I knew that the ethanol andthe hydration hydrogen wasn't going
to work.
(12:21):
But I thought.
I looked at the.
At the marketplace at thetime, and LED lighting was just becoming
something people were considering.
I thought, we have this energyconcept company already in place.
Why don't we just retool itand do LED lighting rather than ethanol
and hydrogen?
Let's do that instead.
My business partner didn'tthink that was a good idea.
So we separated and he wenthis own way and I had this business
(12:42):
and I said, I might try this.
And I was going back and forth.
Well, the guy that I wasinterviewing with this corporate
job for, he kind of got thesense that I wasn't interested in
the job.
I had interviewed three timesor whatever the number was, and I
kept putting him off.
Hey, can you give me a couplemore weeks?
Can you get a couple more weeks?
And he called me and he said.
He said, jason, it sounds tome that you are not interested in
this job.
(13:02):
So we are formally withdrawingour offer.
Or our intent to pursue.
And so that was what I neededto push me over the edge.
And so I decided I'm goingfull in on the business.
And I told my wife, I said,babe, here's the thing.
August 15th is my lastpaycheck from the state.
If I don't have a deal comein, my money coming in by then, I'll
go get a real job.
And she was okay with that.
(13:24):
I mean, neither of us, wedidn't even know how to spell entrepreneur.
We didn't know what that word meant.
And I thought, okay, whatever,we'll try it.
August 12th, I got a deal.
Whoa.
Three days before my selfimposed deadline.
Yeah, it's pretty cool.
It's a pretty cool story.
And this is the LED company?
Yes, it's the LED company.
So, so that deal, the part ofthat, that deal, it was a, it was
(13:46):
a hospital here in middle Tennessee.
And so I like retrofitting thelights, retrofitting their lights
to LED.
So I've taken out all the T12fluorescent lights that were using
tons of energy, creating a lotof heat in the building and putting
an led.
And it was going to save thema quarter of a million dollars a
year in energy costs alone.
And we, we signed that project.
It ultimately ended up being a$2.3 million project.
(14:07):
It took about three years to complete.
The first check I got was only18 grand, so it wasn't like a lot
of money.
But the first big check I gotwas $626,000.
And it's like, okay, this is crazy.
I made 38 grand as a teacher,and now here I've got a check with
my company's name on it for $626,000.
I'm going to the bank.
(14:27):
And my banker looked at melike, what is going on?
Because they, they knew me.
I banked with them a long timeand I'd open up this, this business
checking account with like 100 bucks.
And here we are, cash in a$626,000 check.
What'd you do with the company?
Do you still own it?
No.
So in 2020, I exited dailyoperations and went through a four
(14:48):
month identity crisis.
Didn't know how to introducemyself, didn't know, who am I, what
am I doing in life?
And I had a coach and mentor Iwas working with, and he helped me
kind of understand that, youknow, I'm a teacher, I'm a leader.
I need to use those gifts toserve others and to enjoy the life
that, that I've been givenand, and how, but how do I do that?
I didn't know how to do that.
But, but out of that process,people would ask me, so you, hey,
(15:11):
you exited your companybecause they knew I wasn't working
in it.
I'd already moved my office, Iwasn't working in the office at all,
my employees were still there.
And I said, no, I exited.
And they said, well what?
Like did you sell?
No, I didn't sell.
So I, I exited without exiting.
And that was the first timethat phrase, that concept really
became a reality.
And so as I started tellingpeople that it became intriguing
(15:32):
to people.
And ultimately, long storyshort, ultimately I kind of doubled
down on that messaging,started coaching people on how to
do the same thing.
I wrote the book Exit WithoutExiting, telling my story of how
I exited the business.
And I, I maintained fullownership of that business until
the end of 2023.
And I, I ultimately exited totally.
(15:54):
So I don't own the business anymore.
But that was how Exit WithoutExiting was born.
That's, that's inspiringbecause you know, people think there's,
you know, you get intobusiness, you get into real estate,
you get into any type ofendure endeavor where you're investing
money or building something,then a good thought is how, what
are we going to do in the very end?
Like are we going to exit orare we just going to hold on to perpetually
(16:17):
and then eventually figure outwhat we're going to do?
But thinking of exiting,whenever I coach somebody how to
invest in real estate, a lotof people think they asked me the
question, well, Dustin, I havethis property, should I sell it or
should I keep it?
I'm like, well what's thepurpose of selling?
Oh, I want the capital to beable to buy something else or do
whatever they want with the money.
I said, well, why don't welook at instead of selling?
(16:40):
Because then you no longerhave a property that makes you money.
Because if you buy a propertymakes you money in cash flow, then
you're not going to have thatproperty makes you money and it's
not going to continue to grow equity.
How about instead we dosomething, we figure out another
way to get that money, whichis what you want.
Let's do a cash out refinancewhere it's a tax free loan from the
bank and you don't have to paytaxes on it.
Just like if you sold it, youhave to pay taxes.
(17:01):
Same thing.
If you get the cash in yourpocket without having to pay taxes,
then you still have theproperty making you money.
And then use that to make more money.
Is that the type of thinkinglike when you have a business, when
you talk about exiting withoutexiting, is it you get people in
place, systems and proceduresand processes.
Is there also any way to tapinto that equity that you built in
(17:22):
that business?
I'm sure there's a way to tapinto the equity, but that is a whole
different conversation.
So exit without exiting isreally about getting yourself out
of the weeds of daily operations.
Think about it this way.
There's three tiers of theentrepreneurial evolution.
Tier one at the bottom of the pyramid.
If you think about this interms of like a pyramid or triangle,
tier one is the owner operator.
(17:44):
90, 95% of entrepreneurs neverexit the owner operator stage.
That means they're focused on activity.
They don't even understand thebusiness is an asset.
They're just focused onactivity and revenue, that's it.
And everything revolves around them.
If they're not there, itdoesn't get done.
And that's where mostbusinesses are today.
And you know what, if that'swhat entrepreneur wants to do, you
(18:04):
just need to understand you'renot really an entrepreneur, you're
a business owner.
And there's nothing wrong with that.
That's just what it is.
Then there's tier two andthat's an owner manager.
And I'd say, I don't know, 2to 5%, maybe, maybe 5 to 8%, depending
on which, which studies youlook at.
Entrepreneurs move into ownermanager and this is where the business
still relies on them, butthey're not doing the activity.
(18:26):
They're.
They actually have teams andprocesses and employees to do that
for them.
But if they're not there, it'sstill going to, the business will
suffer.
And that's where I was.
I was an owner manager.
I had a really competent teamthat was doing most of the daily
operations, but they stillrelied on me to move the ball forward.
I was still there every day, Iwas still in every meeting, I still
(18:47):
led every meeting.
But I wasn't selling, I wasn'tdoing the projects, they were doing
that.
Tier three is owner investor.
And now very fewentrepreneurs, 2% entrepreneurs,
ever reach this.
And that is an entrepreneurwho is looking at the business as
an asset, not as an activity,not as a job, not as something they
have to do.
(19:08):
And I think the most slept onpassive income strategy for business
owners is the fact that youcan own a business as a passive investor,
just like you can in real estate.
I mean that's your whole gameis passive ownership of these companies,
these businesses that Are realestate financially, financially set
up as real estate, you can dothat as a business owner.
You can own an ice cream shop,a cigar shop, a car dealership, a
(19:29):
lighting company, whatever it is.
And if you set it up the rightway and become an owner investor,
you can actually qualify forpassive income tax treatment.
If you work.
And I'm not an, I'm not an accountant.
So everybody who's checkingthis, you can go look, talk to your
person.
Anytime you hear, unlesssomebody is an actual accountant,
anytime you hear any advice,talk to your accountant.
(19:50):
So, so if you are workingactively less than 750 hours a year
in that business, thattypically will qualify you to earn.
All that money earned ispassive, which means no Social Security
tax section, among other things.
There's other things it woulddo, but only, most people only think
of that in terms of real estate.
Well, if I'm real estateprofessional and I make $200,000
(20:10):
in passive income, that's notgoing to be taxed on Social Security.
There's other tax benefitsbecause it's passive, you don't have
to pay tax on it.
Well, you could do that in abusiness as well.
I like that idea.
I like it because, well,that's one thing I love, passive
income.
Because when you build abusiness that has inventory, doesn't
matter, it could be realestate inventory, it could be candy
(20:31):
bars like whatever yourcompany, your business owns.
If you are able to figure outa way to make sure that other people
are doing the work that they,that the business can grow without
you, then you have much moretime on your hands where you can
do whatever you want, buildmore businesses.
That's what I love to do.
Now it sounds like a companyhas to have a lot of revenue in order
to get there because you haveto hire the right people.
(20:51):
Is there like a stepping stoneor like maybe a roadmap that somebody's
starting the business and thenthey got to go through a couple steps
before they can actually dothat because they have to have enough
revenue, having a right teamand all that sort of stuff.
And I want to pause for just aquick second and say thank you.
So much for listening to the show.
If you've gotten anything outof the.
Show, I would appreciate it if you.
(21:12):
Went to anywhere that youlisten to.
Say Apple or Spotify orwherever and leave a five star review.
Honestly, I really appreciateyou leaving an honest review.
I just love giving all thisinformation out and I want to see
you succeed.
Also send this to one person,just tell one person, say, hey Dustin,
wants to help a million peopleto invest in real estate.
You need to listen to thisbecause it's going to change your
(21:33):
life.
Lastly, get my real estateinvestment course completely for
free.
Text the word rental R E N.
T A L rental to 33777 rental.
The 33777.
I'll literally give you mycourse showing you everything in
the business so that.
You can become financially independent.
But we've created a roadmap.
(21:54):
So we created xos, which isthe Exeter XOS Exeter Operating system.
And it's a seven stage systemto show you how to move from owner
operator, owner manager intoowner investor.
Now you asked, is there acertain amount of revenue that they
need?
There's not a hard and fast number.
But before I answer thatquestion, and don't let me forget
to go back to the revenuequestion because I want to address
(22:16):
that, but I need to addresssomething else.
You're talking about this ideaof, of passive ownership.
We're talking about is thererevenue to get to places, all that
type of stuff.
Well, think about this.
Your business has to have anexit plan or it is a dungeon.
(22:36):
If you build a business abuild a bit a building, build a building
with one way in, one way out,that's a jail, that's a dungeon,
right?
There's no exit, you go tojail, there ain't no out.
This is a one way in, youain't getting out.
Well, businesses are the same way.
We build businesses with oneway and no way out.
And I did that as anentrepreneur starting that business
in 2010.
(22:56):
I sure as heck didn't thinkabout what it's going to be in 2020
when I exit, or 2023 when Ifinally exit.
I didn't think about that andI didn't even contemplate it until
2018.
And even at that point, Ididn't understand what it really
was going to look like.
So how many business ownerstoday, perhaps listening to the show,
have never even sat down andthought, oh, what is going to happen?
(23:16):
Because you may say, well no,I love doing what I do, I don't want
to do anything else, that's fine.
I.
But you will exit thatbusiness, period.
There is nobody who won't exit.
Because you're either going todie, exit in the coffin or you're
going to succeed it to your,your kids who may or may not want
it, or you're going to sell itto somebody else or you're going
to shut it down, which is whata lot of businesses are doing today.
(23:36):
The baby Boomer Wave.
Right now most of thosebusiness are shutting down because
they have no exit plan.
By the way, call me, I canhelp you figure that out.
But that, so there's that.
Now going back to yourquestion about the revenue, there's
no hard and fast number butthe reality is you can't set your
business up to exit if you'rethe only person working in the business.
It just doesn't it, you arethe business because you are the
(23:58):
business.
You're a job owner, not abusiness owner.
So could an individual runninga single shingle, I call it single
shingle, a single shinglebusiness be doing 10 million revenue?
Could they?
For sure.
And is that an exitable business?
Yeah, I'm sure there's aninvestor somewhere that look at that
and go something weird'shappening here.
I could step in and even if itgoes down to 5 million, still great.
(24:21):
Yeah but that, those are anomalies.
The normal business, runningan ice cream shop, running a sandwich
shop, whatever, you got tohave a certain number of dollar amount
of revenue in order to buildsystems that are going to allow you
to exit.
So yes.
So in the Exeter club, themastermind that I lead, we, we only
take people who are doing atleast 3 million in revenue or more
or caveat at least 300k inbottom line net profit.
(24:44):
So we have some people thatdon't do a million in revenue but
they're high margin businesses.
And the reason we, the reasonwe have these financial guidelines
to be in the Exeter club isbecause we know you're going to have
to make some hires, there'sgoing to be some investments plus
you got to be able to affordthe services that we're providing
because in the Exeter club andwe, we have a, we have a finance
coach, we have a legal coachwith an investment banking coach.
(25:06):
You get a free valuation whenyou become come in.
So we'll show you that we havea mindset coach, we have a wealth
manager all on our team.
And so that's not free, that'snot inexpensive.
It is an investment in the mastermind.
So that's why we have thefinancial requirements so to go through
those seven stages of the XOS method.
Stage one is basic delegation.
Stage two is assemble yoursupport squad.
(25:27):
You got to have the people onyour team like a transaction coordinator
in the real estate world or anadministrative assistant.
Step three is your A team.
You start building themanagement team that's going to be
able to manage the, you know,manage the business while you're
not there.
And then step Four is when youstart systematizing things and automating
things.
Most coaches, that's thedifference between me and most coaches,
they start at step four.
Hey, just gotta have the right systems.
(25:48):
If the systems have nodelegation plan and they still rely
on you as the owner, it's justa system that relies on you.
Is it better than no system?
For sure.
But it ain't gonna make yourbusiness exitable.
And then step five is gonna bedoing the optimizing your cash flow,
like creating a cash flow machine.
So we'll show you how to setyour business up for.
There's recurring revenue,there's reoccurring revenue, and
(26:10):
there's project revenue.
So we'll show you how tofigure out how to get to those.
And then step six is exitwithout exiting.
And there's where you get tothe real choice.
Do I maintain ownership or doI sell?
Which is step seven.
And we can actually help you sell.
We have one client goingthrough a sale right now, and our
whole team can help with that.
We got the M and A attorney,we've got the investment banker.
(26:30):
We can do all that.
That's fantastic.
Especially when somebody isgoing through the business and starting
from scratch.
And then, I mean, it's noteasy to scale your business if you
don't know what you're doing.
You know, just if let's youfigure out you have a product you
want to start selling, thatyou can start that business and then
hire a couple people becauseyou realize, oh, I got to, you know,
get other people, do the work.
(26:51):
But getting that roadmap toget to the point where you are understanding
how to build the businessinstead of working in the business,
I love that.
What is your thought abouthaving the business?
At what point in this roadmapis it where you build the business
so that.
Not that it can run withoutyou, that's good, but then grow without
you and increase in revenuewithout it, without you.
(27:12):
That step six is that.
Because I know seven isexiting without exiting.
I think it starts with stagethree, which is getting your.
Your A team together.
And I think we don't.
We don't put enough stock inour A team.
Entrepreneurs who would be theA team.
Like, so your A team is yourmanagement team, your coo, your cfo,
your, Your general manager,your operations director.
(27:33):
They're the people that areactually calling the shots day to
day.
So if you think about thosethree tiers, the owner, operator,
owner, manager, owner,investor, owner, managers start replacing
themselves as manager.
That's why they can move up sothey got to have the A team to take
over those slots in the middle.
So I think entrepreneurs bynature are pretty egotistical, pretty
(27:55):
self centered and some ofthose are in negative ways.
But a lot of that's just inthe natural way that, hey, I'm the
best dude at this job.
Nobody can do it better than me.
Okay, that's probably true, atleast for a time.
But if we hang on to thatmentality, I call that the hero syndrome.
If we hang on to the herosyndrome, we stifle our business's
ability to grow without us.
(28:15):
It might be able to operatewithout us.
We might be able to go awayfor three weeks, but when we get
back, our inbox has 10,000email messages and we missed a hundred
texts and everything stalled,it kept going, but it stalled until
we got back.
That is not what I'm talking about.
So the A Team Stage 3, I thinkis the biggest place where you're
to answer your question, wherethat starts happening is we've got
(28:36):
to start thinking about who dowe put in there.
And you got to be able totrust them.
You got to hire them as theright fit for the organization more
than their abilities becauseyou can train ability, you can't
train fit.
So you got to make sure thatthey fit.
And then when you move tostage four, that system systemization
and optimization automation,that's when you put them in charge
(28:57):
of making those things happen.
Because even if they're onvacation, the system should still
work.
That's yeah, 100.
And when it can run withoutyou and grow without you, it seems
like it's exitable withoutexiting, as you say, because you
have the everybody else doingall the work for you.
So if somebody were to getstarted in the process, you know,
(29:18):
they already have a business,they're already making some money.
And so is one of the best waysto get started is not the systems.
Like you said, we got to getthe right people in place.
That's usually, you know,finding somebody on LinkedIn or you
know, is, is there, do youhave a maybe like a hack to find
good people?
I do.
I'm glad you asked that.
(29:39):
And you didn't know this.
We didn't set this.
So we teach in the Exeter Cluba 10 step process for finding, hiring,
onboarding and training theright teams.
And I'll give you a recentsuccess story.
So we've got a client whojoined the Exeter Club late last,
late last year, can't rememberwhen it was.
(29:59):
November, December.
And he has a very small business.
It's all online.
He has one full time employeeand she is more of a, a doer.
She's not a manager.
Like, she's, she's doing stufflike writing copy and she's maintaining
some of the stuff on the website.
But she's, she's a doer, she'snot a manager.
(30:21):
And as he came into theExorcist Club and started getting
exposed to everything weteach, it was pretty natural for
him to go, I have to have an A team.
I already have a support squad.
I don't need many.
Like, she used the support squad.
I've got to have an A teammember or I can't.
I will never be able to walkaway from this business.
That was his realization.
So we showed him our system,our ten step system.
(30:42):
And this is not indicative ofnormal results, I want to say.
That's what everybody says.
But he, he did our plan.
He had 700 applicants for ageneral manager position, which blows
my mind.
I don't even know how that's possible.
I'm certain that at least halfof those weren't even remotely qualified.
But hundreds of applicants,and I remember the day that they
(31:06):
started rolling in.
He sends me a video clip ofhis screen, like a video recording
on our signal app was how wecommunicate with our clients in the
Exeter club.
And it was just scrolling andscrolling on an Excel spreadsheet.
And I couldn't see it on myphone, I didn't know what it was.
And I wrote back, like, whatam I looking at?
I don't understand.
He goes, this is 700 peoplewho've applied for this position.
What do I do now?
(31:28):
I didn't have that in thething I didn't like.
That has never happened.
So ultimately he called itdown to about 90, 90.
And he did the next step inour process, which culled it down
to I think less than 15.
And he had interviews with, Ithink maybe five or six.
And he hired somebody and itwent fast.
He went through that process.
So yes, we do have a processto help you find the right people.
(31:51):
But the other thing that justhappened, like this is the first
time I'm announcing on thepodcast, is that we just partnered
with a national recruitingagency as an exclusive partner with
the Exeter club to providetheir headhunting and recruiting
services.
So now you can do it yourselfand we have a plan for that.
Or if you say, you know what,I'd rather pay a little extra and
I want somebody else to runthe process.
So we now have a partnershipwith a company that has 15 offices
(32:14):
across the United States andthey can recruit in every industry.
So if you need a financialperson, you need an assistant, you
need a salesperson, you needan engineer.
We, the Exeter Club now has apartnership with a company that does
that for our members.
And I've found the more busythat I get, the more likely I am
to say, I just don't have thetime to do this.
I want to, I want to hiresomebody else.
(32:36):
I want somebody else to takecare of this for me.
So many times, like even justrecently, with all the things I,
from buying real estate torunning my online businesses, live
in person events, like allthose things, it just takes up so
much time.
And then I'm like.
Because I'm also pretty frugal.
Like, I'm really, really frugal.
And then it took me to realizeif I don't have an assistant, then
(32:58):
I'm the assistant.
Like, if I'm not payingsomebody, let's say 25 bucks an hour,
then I'm my time, because I'mdoing that assistant type stuff is
$25 an hour.
I'm like, I know I'm worthmore than that because I make a lot
more than that.
And so I'm like, so it wakesme up to realize in finding the right
people to put in place, itreally just more frees you up.
It frees you up to have more time.
(33:19):
Because in the end, what I tryto do is build businesses that are
more passive, where I haveother people doing work, I have my
properties work for me.
You know, let's say myconference, having people come and
I have awesome people thatrun, run the business as opposed
to me doing it.
But then also like gettingquick back to the idea being able
to pay somebody to buy backyour time, to have your time, because
(33:39):
that's the one commodity youonly spend, you can't create, make,
earn, or get any more of.
And so if you could spend thatlittle bit of money, it could be
a lot of money.
But then to give a year, twoyears of your life back, how valuable
is that?
So once somebody does exitwithout exiting, what's the next
step?
Do you guys walk anybody through?
Like, okay, now your life is different.
(34:00):
Let's see what we can do differently.
That's part of what we focuson, is how do you prepare for the
next stage, how do you getready for that next, this next big
opportunity?
Because most of the guys wework with are probably in their 30s
and 40s, 50s maybe.
We have one guy is an 80.
This is pretty cool.
We Love him.
He's awesome.
(34:20):
He's been in business longerthan all of us have been alive.
You know, this is pretty cool.
But, but most of what I'msaying, that is most of the guys,
I have no intention of hangingit up and going.
Sitting on a beach like that'snot their retirement is.
I'm not part of that either.
Yeah.
And most of us are not like that.
Some are.
And some are ready like, I'm done.
I put my 40 years in, I'mready to go.
But most are going to wantanother thing.
(34:41):
They're going to want anotherbusiness, another opportunity.
The guy that we're workingwith right now in the exerclub to
sell his business, is he, he.
I think I, I want to say he'sin his 30s and he started this business
by himself.
It's a service based, homebased business and it's, it's doing
great.
And he's like, I don't want todo this anymore.
I am not interested.
I have another thing I want to do.
(35:02):
I want to do some traveling.
Okay, that's cool.
So his next step, he's gotfigured out and we're helping him,
helping them put that together.
So we have, we have a plancalled the X Plan and the X plan
framework is examine.
Like first of all, what is itthat you want?
Do you want to retire or doyou want to start another business?
You want to buy anotherbusiness or you want to spend time
(35:22):
with family?
You want to go on a missiontrip for three years, what do you
want to do?
That's examine.
P is prioritize.
Like what are your priorities?
What are you wanting to accomplish?
And then L is leverage.
What can you leverage to get there?
There is it people, Is it systems?
Is it money?
A is activate.
Okay, how are you going toactivate this to make it happen?
Then N is where you'reactually going to make that.
Make the necessity of what youhave to accomplish to make it, make
(35:45):
it all come down.
So you've got to go throughand navigate.
That's what the N stands for.
I said in the sense, it's navigate.
You navigate the system byputting in the, the, the, the, the
stop signs along the way.
Okay, at 30 days, this betterhappen at 60 days, this better happen
at 90.
We've got another client, hehas his business listed for sale.
And he came into the exorclubthinking, I want you guys to help
(36:08):
me figure this out.
So before, before anything, healready had it listed, came in, said,
can you help us get throughthis process?
And what we discovered is hisbusiness was not ready.
He had a lot of things heneeded to put together.
That doesn't mean it wasn't agreat business.
He has a great business.
It just wasn't ready.
So he wondered, well, why I'mnot getting any offers, why nobody
looking at this and our, ourcoaching team looked at it, said
(36:28):
here's why and he gets it.
But his X plan is leading to.
He has bought a three yearround the world trip on a, on a cruise
ship.
I'm not, I've never even knownthis existed.
But he did, he bought thisthing and he's like, I leave in September
of 2025.
So when he came in last, latelast year, he's like, we got to get
(36:50):
this thing done by 2025.
And so we met with himrecently to kind of get more of his
X plan put together and I toldhim, dude, I don't see how we're
going to be ready by September.
Said how does that change your life?
How does that change whatyou're going to accomplish?
He said, well there's going tobe some things that happen.
And so what we're doing iswe're going back and look at the
(37:11):
L and the plan, the leverage.
What can we leverage to getyou on the boat but you're still
going to have to operate thecompany from remotely.
Are you open to that?
Yeah, yeah.
Now ultimately originally hewanted to step away and have it done.
Soldiers out.
But now he started tounderstand the exit without exiting
mentality.
Oh, so with a laptop andInternet connection, which he won't
(37:31):
have, he won't have theInternet everywhere but he's gonna
have it most places he goes,he said, so I can actually leverage
that opportunity and I couldrun it.
And the way that deal works ispretty cool, is he can disembark
anywhere on the journey, comeback home, spend a month or two and
then go back and hop on theboat at the next stop, which I didn't
know.
This is pretty cool.
Yeah, like he actually boughta lease, a 15 year lease on this
(37:53):
boat.
It's pretty cool.
But it's a three year journey.
They do every three years,keep cycling.
That's not me.
I wouldn't do it.
I wouldn't.
That's what he wants to do.
So what we're doing with himis we're coaching him through how
to leverage.
That's what the L is toleverage through.
How do you, how do you make it happen?
Because you got your priority.
His ex, what he wanted tobegin with his examine was I want
to sell.
(38:13):
He's like, ah, you know what,I'll exit with that.
Exit.
Okay, now priorities, what'syour priorities?
I have to get operations andsales covered.
Okay, then how do we leverageto get that covered so that you can
get on the boat and then activate.
The activate part is westarted picking dates, okay, 30 days.
You have to have this happen.
If you don't hit this 30 daywindow and this hasn't happened,
if you get lazy, you're notgoing to be able to accomplish this.
(38:34):
You're going to not get on theboat in September.
And then 60 days and then 90days, we're running that through.
And then, and then thenavigate part, which is funny because
he's getting on a boat.
Navigate.
So the navigate part is we'regoing to help him navigate this whole
thing.
That's the whole point of theexercise club.
Man, this is, this is fantastic.
I love talking about business.
In fact, even though I investin real estate, what it comes down
to is I'm not an investor.
(38:55):
I'm a business owner.
My business owns inventory,which is my properties.
I just love every type of business.
So this is.
We could talk forever, ButJason, I know people want to reach
out to you, find you.
How can they find you online?
How can they connect with you?
You just Google the real JasonDuncan, you're going to find me.
You can.
If you ever use.
Have you ever used Perplexity?
No, I have not.
That's the coolest.
(39:15):
It's the coolest new AI.
Perplexity.
AI.
This is not what.
It's only, you know, itdoesn't only do what I'm about to
tell you, but you can go inthere and put who is.
And then the person's name.
Now obviously, if it's JohnSmith or David Jones or something,
there's too many of those.
But there's not many DustinHeiners in the world.
And if you just put the realJason Duncan, who is the real Jason
(39:36):
Duncan?
You'll find everything outthere about me.
As a matter of fact, you'regoing to be on my show, the Root
of All Success soon.
And that's part of how I puttogether the show notes and the questions
I'm going to be asking you.
I went to Perplexity, AI did that.
But anyhow, just Google thereal Jason Duncan.
Instagram the real JasonDuncan, YouTube the real Jason Duncan.
That's where you're gonna find me.
And check out his podcast, theRoot of All Success.
So, Jason, thank you so much.
(39:57):
For being on, man.
It's an honor, man.
Thanks for having me.
And that is it for today.
Go ahead and get my free realestate investing course.
Texas word rental to 33777.
R E N T A L to 33777.
You can also join my real estate.
Wealth Builders group coaching.
Get all my courses.
All right, guys, we'll see youin the next show.
See ya.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Special Summer Offer: Exclusively on Apple Podcasts, try our Dateline Premium subscription completely free for one month! With Dateline Premium, you get every episode ad-free plus exclusive bonus content.