This month I have been highlighting entrepreneurs and their journeys in hopes of inspiring you in your journey. In case you missed them, you can read the stories of Pyromechs, Tyrell, and Samuel. This week, I wanted to share my entrepreneurial journey with you all. No matter who you are or what your situation is, you are never stuck. God promises to give us a more abundant life (John 10:10), so believe it.
What inspired you to be an entrepreneur?
There were several touchstone experiences that led me to become an entrepreneur. Some of you may know that I used to be a pastor. I had brought a group of young people up to an amusement park. The bus we were in broke down and we had to wait for someone to come from about four hours away to pick us up, so we stopped at a Village Inn restaurant.
Most of the kids didn’t have much money. I remember I was so embarrassed because I wanted to get a cup of coffee to warm up and I didn’t even have $1.50. I realized I never wanted to be in a situation like that again.
What led you to choose your business idea?
When I was a much younger man, the church I pastored was hosting a major conference. By major, I mean that we had seven private jets on the runway. There were some hitters in the house! These guest speakers flew in on private jets their ministries owned.
When the conference was over, two of the guys—who flew in on their own planes— and I went to the mountains for a couple of days of R&R. We went to a huge hot springs pool in the mountains of Colorado. As we stood in the heated water, which was a little less than waist deep, one of the guys looked at me and said, “Billy, what kind of plans have you made for retirement?”
Usually, a conversation would start with, “So, did you enjoy the drive up?” or “What did you think about the conference?” But this guy just jumped right in and asked me what kind of plans I had for retirement. I thought about my real estate investment and what little money I had put aside, but before I could respond, he said something that shook me to my core. He said, “If I did not have my ministry, I would be broke in 90 days. I would literally be out on the street.”
That terrified me! At the time, I was aspiring to be one of these men who had flown in on their ministry’s jets. That was my goal! I had a little investment real estate and had set aside a small amount of money, but I was mostly focusing on growing and building my ministry. So when he said that, I believe it was one of those divine connections God had stored in a treasure chest for me. God showed up in my life that day and began to show me something I had not yet understood.
When I returned home from that R&R trip, I began a journey. I was determined to replace all of my salary and benefits with passive income—income I didn’t have to work for. At the time, my salary, benefits, and travel felt like a pretty big paycheck, so that was a significant goal for me to try to reach. But I was determined. So I set my face like a flint, and here’s what happened.
By God’s grace, I caught the real estate market at just the right time in the U.S. During this time, I was developing and practicing the formulas that I now teach in my Real Estate Mastery course. I was learning how not to overpay for real estate. After the first ten properties and over the course of two and a half years, I finally reached my goal of replacing my income with passive income. I didn’t have to sell something or put in X hours to collect this extra income.
What is the biggest lesson you have learned in your entrepreneurial journey?
I always tell people this: you don’t know what you don’t know. In other words, there will be aspects of business or your industry that you won’t know. This means you either have to do the research or you have to contact it out. It’s okay not to know everything, but it’s not okay to not do anything about it.
What advice would you give to someone wanting to start their own business?
When I was a pastor, a single mom came into my office complaining about her job. As a pastor, you hear people complain a lot, but this woman was unusually grieved. She complained about this person and that person, this situation and that situation. I couldn’t believe her extensive list of complaints.
Finally, I looked at her and asked, “Why don’t you quit?”
She said, “I can’t quit. I’ve got to provide for my kids. I make good money there, I can’t do anything else.”
I asked, “Have you thought about working at another hospital? Have you thought about serving in another area of the medical field?”
I pressed her, but her response to every question was the same: “It won’t work.”
I remembered a contact I had in the medical profession and recommended that she talk to this person. Reluctantly, she agreed. From that one interview, she was offered three distinct positions, all of them paying more money than what she was currently making. She told me later that she wished she had talked to me sooner. I simply let her know there were other possibilities. All I did was let her know that she was not trapped.
There is not one person reading this blog who is permanently trapped. Everyone has possibilities.
You are not trapped. You have endless possibilities.
If you think you are trapped, you are believing a lie. God can and will help you change your circumstances if you are willing to move out of your comfort zone. Are you willing to look at the possibilities rather than focusing on the problem? God is the master of change! It’s time to stop complaining that there is no one to put you in the healing waters; go ahead and let the Healer touch you.
- feel stuck in the daily grind of 9-5, and it seems as though your dreams may be dying. You need inspiration. You need to revive your dreams.
- want to know which of the Seven Mountains you are meant to impact. Where is your sphere of influence? How can you make a difference?
- need to get out of debt, learn to become prosperous, and use your money to make a kingdom impact. You need a plan for your money that involves something bigger than you!
- want to tap into the desires of your heart and discover God’s plan for your life. You feel like there’s more. Now it’s time to find out what.
The annual WealthBuilders Conference is coming up NEXT MONTH! If you have ever wanted to know more about entrepreneurship, business, real estate, or financial freedom, this conference is for you!