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E111: How to Develop an Entrepreneur Mindset with Cardwell Thaxton
Cardwell Thaxton is the owner of the Cardwell Thaxton group, a real estate developer that specializes in renovating existing buildings and putting them back on the market for sale or for rent. Cardwell is a licensed real estate appraiser for over 20 years, working closely with lenders, attorneys, and mortgage companies, and investors.
Here are some power takeaways from today’s conversation:
Episode Highlights:
How Facebook Knows Everything
Everything now has moved over to the social networks so you have to reach a certain demographic. Facebook knows everything about your people. So it's easy to figure out the demographic you want. When people sign in, they tell Facebook everything about them – education, where they live, birthday – everything. If you want educated women between 27 and 50 with a four-year degree, Facebook has it.
Facebook continues to buy other companies to expand their footprint like Instagram and they just use their data to spread out to more and more people. And most people aren't aware that by using something free, it means they are the product. If you can't figure out what the product is when they're offering these things, you are the product.
Finding a Mentor
You might be in the business for 25 years. But it doesn't mean you're a good teacher or a good coach. Everyone's not cut out to be a teacher or a coach. It's just time-consuming. Finding a mentor is the biggest drawback right now because you have to put in at least 2,000 hours of guided work (that ends up being about two years or maybe a little bit less).
The Entrepreneur Mindset
If your goal is to put in your 25 years at the company and then retire, and your definition of retire is don't do anything, you're not going to probably understand the mind of an entrepreneur. An entrepreneur will work 80 hours a week for themselves so they don't have to work 40 hours a week for someone else.
The Power of Network and Buying Based on Emotions
Your network equals your net worth. It doesn't matter who you know, what matters is who knows you. You need to get out there and meet people because once they know about you, you're in.
A lot has to do with your personality, as well. Be memorable. Ask genuine questions. Learn how to close and how to ask closing questions and learn how to get to the real objection. People don't buy on based on logic, people buy based on emotion, and then they use logic later to justify the purchase.
Resources Mentioned:
The Cardwell Thaxton Group
Think and Grow Rich by Napoleon Hill
The 4-Hour Workweek by Tim Ferriss
Rich Dad, Poor Day by Robert Kiyosaki
Outwitting the Devil by Napoleon Hill
View all episodes
By Erik Cabral
5
5151 ratings
Cardwell Thaxton is the owner of the Cardwell Thaxton group, a real estate developer that specializes in renovating existing buildings and putting them back on the market for sale or for rent. Cardwell is a licensed real estate appraiser for over 20 years, working closely with lenders, attorneys, and mortgage companies, and investors.
Here are some power takeaways from today’s conversation:
Episode Highlights:
How Facebook Knows Everything
Everything now has moved over to the social networks so you have to reach a certain demographic. Facebook knows everything about your people. So it's easy to figure out the demographic you want. When people sign in, they tell Facebook everything about them – education, where they live, birthday – everything. If you want educated women between 27 and 50 with a four-year degree, Facebook has it.
Facebook continues to buy other companies to expand their footprint like Instagram and they just use their data to spread out to more and more people. And most people aren't aware that by using something free, it means they are the product. If you can't figure out what the product is when they're offering these things, you are the product.
Finding a Mentor
You might be in the business for 25 years. But it doesn't mean you're a good teacher or a good coach. Everyone's not cut out to be a teacher or a coach. It's just time-consuming. Finding a mentor is the biggest drawback right now because you have to put in at least 2,000 hours of guided work (that ends up being about two years or maybe a little bit less).
The Entrepreneur Mindset
If your goal is to put in your 25 years at the company and then retire, and your definition of retire is don't do anything, you're not going to probably understand the mind of an entrepreneur. An entrepreneur will work 80 hours a week for themselves so they don't have to work 40 hours a week for someone else.
The Power of Network and Buying Based on Emotions
Your network equals your net worth. It doesn't matter who you know, what matters is who knows you. You need to get out there and meet people because once they know about you, you're in.
A lot has to do with your personality, as well. Be memorable. Ask genuine questions. Learn how to close and how to ask closing questions and learn how to get to the real objection. People don't buy on based on logic, people buy based on emotion, and then they use logic later to justify the purchase.
Resources Mentioned:
The Cardwell Thaxton Group
Think and Grow Rich by Napoleon Hill
The 4-Hour Workweek by Tim Ferriss
Rich Dad, Poor Day by Robert Kiyosaki
Outwitting the Devil by Napoleon Hill