The New How Podcast

Summary
Alan Borovich, owner of Liberty Bell Management, shares his journey as an entrepreneur and the growth of his real estate business. He emphasizes the importance of building a strong team and hiring the right people. He discusses the challenges of starting out on his own, handling all aspects of the business, and gradually transitioning to hiring staff. He highlights the significance of having a clear vision and roadmap for the company and the importance of personal development for both himself and his team. He also talks about the value of one-on-one meetings with staff and providing opportunities for growth and education. Alan discusses the importance of open communication and feedback within a company. He shares his practice of delivering a quarterly plan to the entire organization, outlining goals and improvements. Alan emphasizes the need for effective use of technology in business operations and mentions the property management software Propertyware and the customizable CRM platform Podio. He also talks about the importance of mentorship and coaching in his personal and professional growth. Alan highlights the significance of having a clear vision and long-term perspective to overcome challenges and stay focused on the journey.

Keywords
entrepreneurship, real estate, team building, hiring, vision, personal development, one-on-one meetings, growth, open communication, feedback, quarterly plan, goals, improvements, technology, property management software, CRM, mentorship, coaching, vision, long-term perspective

Takeaways
Building a successful business requires hiring the right people and building a strong team.
Having a clear vision and roadmap for the company is crucial for success.
Personal development and continuous learning are important for both the entrepreneur and the team.
One-on-one meetings with staff can help solve issues, provide guidance, and foster growth.
Investing in education and providing opportunities for growth can help develop a talented and motivated team. Open communication and feedback are essential for effective leadership and decision-making.
Delivering a quarterly plan to the entire organization helps align goals and improve performance.
Utilizing technology, such as property management software and CRM platforms, can streamline operations and enhance productivity.
Mentorship and coaching play a crucial role in personal and professional growth.
Having a clear vision and long-term perspective helps overcome challenges and stay focused on the journey.

Sound Bites
“You can be a little vulnerable and say, guys, you know what, I’m not – We have a problem here. How do we fix this?”
“Why become an entrepreneur? Why start your own business? Like, where did that come from in your early days?”
“I always had this kind of inkling of, I want to be successful. I want to make a lot of money.”
“I don’t care about titles. I don’t care about hierarchy. We have flow of information time.”
“Having that open line of communication is very, very key.”
“I started doing the yearly vision prior for the last five years, but I really went into this quarterly plan.”

Chapters
00:00
Building a Strong Team: The Key to Success
09:21
Starting Out on Your Own: Challenges and Growth
14:43
Hiring the Right People: Building a Talented Team
21:43
Investing in Personal Development and Growth
22:12
One-on-One Meetings: Solving Issues and Fostering Growth
22:41
Open Communication and Feedback
23:59
Delivering a Quarterly Plan
29:40
Harnessing Technology for Streamlined Operations
34:21
The Impact of Mentorship and Coaching
39:32
Maintaining a Clear Vision and Long-Term Perspective

Update
Yieldeasy is now Finresi

Summary
Jeff Gophstein, co-founder and CEO of Finresi, shares his journey from entrepreneurship to founding a tech-enabled finance business. He discusses the challenges of raising venture capital, the impact of interest rates on the real estate market, and the evolution of Finresi’s business model. The conversation delves into the complexities of the startup world, the importance of talent acquisition, and the nuances of venture capital funding. The conversation covers a wide range of topics, including problem-solving in business, the vision for Finresi, the alternative investment market, the challenges of opening up to non-accredited investors, the impact of interest rates, and the future of various industries. The conversation also delves into the effects of the pandemic on real estate, the uncertainty around interest rates, and the resilience required as a founder.

Keywords
entrepreneurship, real estate market, venture capital, tech-enabled finance, interest rates, talent acquisition, startup challenges, business problem-solving, Finresi vision, alternative investment market, non-accredited investors, interest rates, pandemic impact on real estate, founder resilience

Takeaways
Entrepreneurship is driven by a deep-seated desire to create and build something out of thin air.
Venture capital funding is not always necessary for every business, and the decision to seek VC involvement should be carefully considered.
The real estate market is heavily influenced by interest rates, impacting the viability of business models and investment opportunities.
Talent acquisition and team structure play a crucial role in the success and efficiency of a startup.
The startup journey is filled with unknowns and challenges, but it also offers unparalleled opportunities for personal and professional growth. The excitement of solving business problems and the fun of tackling new challenges.
The vision for Finresi and its potential to tap into the alternative investment market.
The challenges and considerations of opening up to non-accredited investors.
The impact of interest rates and the uncertainty surrounding their future direction.
The resilience and perseverance required as a founder in the face of challenges and setbacks.

Sound Bites
“Entrepreneurship is driven by a deep-seated desire to create and build something out of thin air.”
“The real estate market is heavily influenced by interest rates, impacting the viability of business models and investment opportunities.”
“Venture capital funding is not always necessary for every business, and the decision to seek VC involvement should be carefully considered.”
“I just love solving problems, right? So like if you’re constantly in a business where it’s like problem at the prime, you know, people think problems like, Oh my God, I can’t have it. No, there’s good problems.”
“The alternative investment market is projected to be like 25 trillion in the next 10 years. And I think that’s a matter of the fact that it’s never been so accessible.”
“I think for us, it also protects us because if a person is not accredited and they’re venturing into an alternative investment, you know, there’s a lot of paperwork affiliated, like you sign a subscription agreement with a PPM.”

Chapters
00:00 Navigating the Real Estate Market and Entrepreneurship
13:00 The Impact of Interest Rates on Business Models
25:49 Navigating Business Challenges and Problem-Solving
27:29 The Vision for Finresi and the Alternative Investment Market
32:04 Challenges and Considerations of Opening Up to Non-Accredited Investors
38:29 The Impact of Interest Rates and Uncertainty
48:58 Resilience and Perseverance as a Founder

Summary
Adrian Sam, a member of CBRE’s multifamily capital markets team, shares his career journey and why he chose to work in real estate. He started his career in TV video production but transitioned to the event business. However, he felt the need for real wealth building and decided to pursue a career in real estate. Adrian emphasizes the importance of building relationships and networking in the industry. He recommends joining professional organizations and attending events to connect with like-minded individuals. Adrian also discusses why he chose to work at CBRE, highlighting the company’s global reach and diverse culture. CBRE has the best data aggregation and interpretation capabilities in the industry, making them a valuable resource for accurate information and insights. They have acquired various technology companies to enhance their platform and provide comprehensive data on submarkets, pro formas, comps, and more. Their ability to provide accurate and valuable information sets them apart from competitors. Brian Corcodilos took a significant risk in changing careers and entering the real estate industry, but he has found success by constantly learning, seeking mentorship, and staying motivated. He emphasizes the importance of investing in real estate and finding mentors who can provide guidance in both business and life.

Keywords
Adrian Sam, CBRE, multifamily, real estate, career journey, networking, professional organizations, relationships, wealth building, culture, global reach, CBRE, data aggregation, interpretation, technology, acquisitions, accurate information, valuable insights, risk-taking, career change, real estate industry, learning, mentorship, motivation, investing in real estate

Takeaways
Adrian started his career in TV video production and later transitioned to the event business before entering the real estate industry.
He emphasizes the importance of building relationships and networking in the real estate industry.
Adrian recommends joining professional organizations and attending events to connect with like-minded individuals.
He chose to work at CBRE because of the company’s global reach and diverse culture. CBRE has the best data aggregation and interpretation capabilities in the industry, providing accurate and valuable information to clients.
Acquiring technology companies has allowed CBRE to enhance their platform and offer comprehensive data on various aspects of the real estate market.
Brian Corcodilos took a significant risk in changing careers and entering the real estate industry, but has found success through continuous learning and seeking mentorship.
Investing in real estate is crucial for long-term financial growth and stability.
Finding mentors who can provide guidance in both business and life is essential for personal and professional development.

Sound Bites
“I actually started my career off in TV video production.”
“Multifamily was a space that made sense to me.”
“You can’t just do it nine to five.”
“We have the best of the best across the board.”
“We’re tracking cell phone data to find traffic patterns and growth points.”
“Celebrate meetings and not listings.”

Chapters
00:00 Adrian’s career journey: From TV video production to real estate
09:18 The importance of building relationships and networking in real estate
11:20 Joining professional organizations and attending events for networking
22:06 The Power of Data Aggregation and Interpretation
23:26 Enhancing the Platform: Acquisitions and Technology Integration
25:19 Taking Risks and Finding Success in the Real Estate Industry
26:17 The Importance of Investing in Real Estate
43:01 The Value of Mentors in Business and Life

Summary

Ken Weinstein is an active entrepreneur and real estate developer in the Philadelphia area. He is the president of Philly Office Retail, which has renovated and restored over 300 vacant properties in the region. Ken also founded Jumpstart Germantown, a community development program that trains and mentors local residents in real estate development. The program has expanded to 15 cities and has graduated over 2,500 mentees. Ken shares his journey as an entrepreneur and discusses his experience in the restaurant industry. He emphasizes the importance of confidence and trust in building a successful team. In this conversation, Brian Corcodilos discusses the importance of mission-driven work and core values in retaining employees. He also talks about his involvement in the new mayor transition in Philadelphia and the goal of bringing 10,000 affordable housing units to the city. The conversation touches on the challenges of zoning and the need for increased density to address the affordable housing crisis. Corcodilos emphasizes the importance of mentorship and learning from mistakes in entrepreneurship. Keywords entrepreneur, real estate development, community development, Jumpstart Germantown, Philadelphia, vacant properties, restaurant industry, confidence, trust, mission-driven work, core values, employee retention, mayor transition, affordable housing, zoning, density, mentorship, entrepreneurship

Takeaways

-Ken Weinstein is an entrepreneur and real estate developer in Philadelphia. -He has renovated and restored over 300 vacant properties in the region.

-Ken founded Jumpstart Germantown, a community development program that trains and mentors local residents in real estate development.

-Jumpstart Germantown has expanded to 15 cities and has graduated over 2,500 mentees.

-Ken emphasizes the importance of confidence and trust in building a successful team. Mission-driven work and core values are important in retaining employees.

-Zoning and density play a crucial role in addressing the affordable housing crisis.

-Mentorship and learning from mistakes are essential in entrepreneurship.

-Involvement in local politics can have a positive impact on community development.

Sound Bites

“You’re an entrepreneur, you’re a real estate developer, but you’re also giving back in such a massive way.”

“I wasn’t helping anybody. I was encouraging them. I was feeling better about myself because I was saying yes to folks.”

“We charge $125, and then I surprise the students on the last day on graduation day. We give that money to a nonprofit.”

“What makes Philly office retail different and why we retain a lot of our employees and retain our best employees is because we’re mission driven.”

“I’m just curious, you know, in your experience, how do you think you create housing that’s more affordable? What’s your what’s your macro broad brushstroke to that? My macro is doing exactly what Jumpstart is doing by focusing on our middle neighborhoods, not our struggling neighborhoods and not our hot neighborhoods.”

“So to start with, I acknowledge that you cannot improve a neighborhood without some gentrification. Yep. OK. I’d agree with that. So any developer that comes in and says to you, yeah, I can renovate all the vacant houses in this neighborhood, and there will be no displacement, no gentrification, that’s a lie.”

Chapters

00:00 Introduction: Ken Weinstein’s Background

01:24 From Entrepreneur to Real Estate Developer

15:25 The Birth of Jumpstart Germantown

23:40 Building a Successful Team

25:59 Mission-Driven Work and Employee Retention

30:07 Addressing the Affordable Housing Crisis

36:47 Gentrification and Neighborhood Improvement

39:35 Zoning and Density

45:12 The Challenges of Running a Restaurant

49:29 The Importance of Mentorship

Summary
In this episode of the New How podcast, Brian Corcodilos interviews Jack McGovern, a certified public accountant and owner of McGovern & Associates. They discuss Jack’s journey in the accounting world, his decision to start his own practice, and his expertise in tax compliance and financial planning. Jack emphasizes the importance of having a plan and managing your records in order to succeed in business. He also shares insights on leadership, building strong relationships, and making quick and informed decisions. Overall, the conversation highlights the key factors that contribute to entrepreneurial success.

Keywords
accounting, tax compliance, financial planning, business ownership, leadership, decision making, relationships, time management

Takeaways
Having a plan and managing your records are crucial for business success.
Surround yourself with the right people who share your vision and goals.
Make quick and informed decisions, and be willing to adjust if necessary.
Measure the pros and cons of opportunities before making a decision.
Treat others with respect and support their growth and development.

Sound Bites
“There’s really three reasons I think they don’t make one, they’re either underfunded, two, they have a bad business or three, they’re like have bad records or something like that.”
“Well, I hope that when I say this, that when the people listen to me talk, they don’t disagree, but there’s nothing I ask the people to do that I wouldn’t do myself or haven’t done myself.”
“You have to figure out what you like to do in life and then ⁓ figure out how you’re going to accomplish that.”

Chapters
00:00 Introduction and Background
02:50 Starting a Business: Planning and Record-Keeping
11:51 Leadership and Team Dynamics
29:08 Personal and Professional Growth
35:43 Final Advice for Entrepreneurs

Summary

Tara Torrance, owner of The Biscuit Lady, shares her journey from the real estate and mortgage business to starting a successful biscuit company. She talks about the challenges of being a young entrepreneur and the turning point that led her to pursue her passion for food. Tara emphasizes the importance of execution and consistency in business, as well as the power of social media in building a strong brand. She shares her experience of attracting customers from different states through social media and provides tips on using hashtags effectively. In this conversation, Tara shares her journey of starting a biscuit business and the challenges she faced along the way. She talks about the importance of passion and perseverance in entrepreneurship and the need to overcome self-doubt and imposter syndrome. Tara also discusses her plans for expansion, including opening a second location and potentially franchising the business. She emphasizes the importance of community support and taking care of employees by offering competitive pay and benefits. Overall, Tara’s story is a testament to the power of determination and the rewards of following one’s passion.

Keywords

entrepreneurship, restaurant industry, real estate, mortgage business, starting a business, success, challenges, passion, execution, consistency, social media, brand building, customer attraction, hashtags, entrepreneurship, starting a business, challenges, expansion, community support, employee benefits, passion, perseverance

Takeaways

Execution is key in turning an idea into a successful business. Consistency in posting on social media is crucial for brand building. Using trending audio and on-brand audio can help increase views on social media posts. Engaging with customers through comments and providing valuable responses can boost engagement. Hashtags should be relevant to the target audience and used in both the post and comments. Social media can attract customers from different locations and contribute to business growth. Passion and perseverance are crucial in entrepreneurship. Overcoming self-doubt and imposter syndrome is essential for success. Taking care of employees by offering competitive pay and benefits leads to loyalty and success. Community support is vital for the growth of a small business. Expansion and franchising can be viable options for scaling a successful business.

Chapters

00:00 Introduction to Tara Torrance and The Biscuit Lady

04:00 Transition from Real Estate to Biscuit Business

09:25 Idea Formation and Execution

14:10 Finding a Location and Setting Up the Business

21:07 Building a Strong Brand through Social Media

23:49 Attracting Customers from Different Locations

25:39 The Power of Passion and Perseverance in Entrepreneurship

28:52 Overcoming Self-Doubt and Imposter Syndrome

29:43 Taking Care of Employees: The Key to Loyalty and Success

33:19 The Importance of Community Support

38:39 Expanding and Franchising: Scaling a Successful Business

Summary
In this episode of the New How podcast, Brian Corcodilos interviews Justin Kaplan, Director of Development at Odin Properties. They discuss Justin’s background in architecture and real estate, his experience teaching English in Taiwan, and his journey into affordable housing development. Justin shares insights on the challenges of the current real estate market and the importance of taking calculated risks in entrepreneurship. He also talks about his involvement with the KB Foundation, a mentor-based program for inner-city youth. Overall, the conversation highlights the impact of affordable housing development and the importance of taking ownership in one’s work.

Keywords
real estate, affordable housing, development, entrepreneurship, mentorship, sacrifice, ownership

Takeaways
Justin Kaplan, Director of Development at Odin Properties, shares his journey into affordable housing development and the challenges of the current real estate market.
Taking calculated risks and being willing to make sacrifices are important aspects of entrepreneurship.
Justin emphasizes the importance of taking ownership in one’s work and the impact it can have on personal and professional growth.
He also discusses his involvement with the KB Foundation, a mentor-based program for inner-city youth, and the positive impact it has on the lives of young people.
The conversation highlights the significance of affordable housing development and the need for accessible and quality housing for all.

Sound Bites
“Take risks, especially when you’re young.”
“Take ownership and make sure the job gets done.”
“The KB Foundation exposes inner-city youth to a different way of life.”

Chapters
00:00 Introduction and Background
09:39 Transition to Odin Properties
31:43 Involvement with the KB Foundation
38:21 The Importance of Taking Ownership

Summary
Adam, Luca, and Patrick discuss their passion for Kava and Kratom and their plans to open a Kava bar in Philadelphia. They explain that Kava is a root of a plant from the Pacific Islands and has anxiety-reducing properties, while Kratom is a tree leaf that can be energizing or relaxing depending on the strain. They highlight the community-focused atmosphere of Kava bars and the potential health benefits of these beverages. The team discusses their roles in the business and the importance of educating customers about Kava and Kratom. They also mention their previous experience in the industry and their decision to sell their previous company due to differences in vision. Old City Kava plans to build a portfolio of Kava bars and expand its impact on people’s lives. They also discuss the potential for distribution and the importance of advocacy and education. The founders share their experiences with failure and the lessons they’ve learned. They emphasize the importance of following your instincts, holding yourself accountable, and not waiting for the perfect moment to start. They also discuss the challenges and benefits of working with friends and the need for clear roles and processes in a business.

Keywords
Kava, Kratom, Philadelphia, Kava bar, anxiety reduction, community, health benefits, education, business structure, previous company, Old City Kava, Kava bars, distribution, advocacy, education, failure, lessons learned, instincts, accountability, starting a business, working with friends, roles, processes

Takeaways
-Cava is a root from the Pacific Islands with anxiety-reducing properties, while Kratom is a tree leaf that can be energizing or relaxing.
-Cava bars offer a community-focused atmosphere and serve as a third space for socializing and working.
-Educating customers about Cava and Kratom is crucial for spreading awareness and growing the industry.
-The team has delegated roles based on their strengths and is focused on hiring employees who can provide sales and educational support.
-Their previous experience in the industry has given them insights and a leg up in starting their new venture.
-Old City Kava plans to build a portfolio of Kava bars and expand its impact on people’s lives.
-Distribution and advocacy are important goals for Old City Kava.
-Failure is a valuable learning experience in entrepreneurship.
-Following your instincts and holding yourself accountable are key to success.
-Working with friends can be challenging but rewarding with clear roles and expectations.
-Processes and systems are crucial for scaling a business.

Sound Bites
-“What is kava? If you had to, you know, again, someone that’s never drank it or tried it and is hopefully about to, what is kava and why should I be drinking it?”
-“We found that Cava bars down in Florida where we became exposed to these things, people would come and socialize and hang out, but there’s not the toxicity in the culture of alcohol like present in these Cava bars.”
-“Usually 20, 30 minutes. So yeah, that’s hot. I want to try it because I’ve never tried it.”
-“I’m super passionate about this industry. I’ve seen these products help people in so many different ways.”
-“We talk about distribution a lot, be it like raw materials product or bottled canned beverages trying to get into like wellness stores, grocery stores and everything.”
-“I think a lot of people are concerned about that. Like they know they want to do something, they have an idea, and they… they maybe don’t wanna take that leap because they’re like, I’m already so busy.”

Chapters
00:00 Introducing Cava and Kratom
08:41 The Effects and Experience of Drinking Cava
31:16 Learning from Failure in Entrepreneurship
43:01 The Importance of Processes and Systems in Scaling a Business

Summary
Mike Tester, founder of Tester Construction Group, shares his journey in the construction industry and the growth of his company. He discusses his background in architecture and how he transitioned to construction management. Mike emphasizes the importance of having the right team and culture in a company, as well as the challenges of finding qualified labor in the industry. He also talks about the impact of COVID-19 on the construction industry and the value of in-person collaboration. Overall, Mike’s advice for aspiring entrepreneurs is to gain experience and knowledge in the field before starting their own business.

Chapters

00:00 Introduction and Background
02:49 Early Career and Starting Tester Construction Group
06:09 First Projects and Growth of Tester Construction Group
09:55 Challenges and Successes in Building the Business
15:13 Adapting to Technology in the Construction Industry
24:58 Daily Habits and Work-Life Balance
30:06 Lessons in Business and Hiring Practices
35:01 The Impact of COVID-19 on the Construction Industry
39:48 Advice for Entrepreneurs Starting a Business
42:57 Closing Remarks