Wealth Acceleration Podcast

Winning Or Learning: On Turning Setbacks Into Success With Ace Allak (E42)


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I had the absolute pleasure of sitting down with Ace Allak—a powerhouse entrepreneur whose story is as inspiring as it is real. From nearly losing everything during the Great Recession to building a thriving empire that spans real estate, development, and mortgage, Ace proves that success isn’t about avoiding failure—it’s about learning from it. We dive into his journey from humble beginnings as the son of immigrants to leading Christie's International Real Estate in Utah, creating the MH Allak Foundation, and embracing the philosophy of “winning or learning.” Ace also shares game-changing insights like the “genius of and” mindset, why writing down goals rewires your brain, and how to create abundance without sacrificing what matters most.


KEY TAKEAWAYS:


  • Failure is not being wrong or bad; it is either winning or learning.
  • Success in business involves managing emotion.
  • Recognize opportunities and be willing to pursue them to solve problems.
  • The concept of "luxury" can be defined as providing a premium, ethical experience.
  • People deserve a great experience, regardless of how much they spend.
  • Embrace the "Genius of And" to achieve multiple goals simultaneously, rather than the "tyranny of or."
  • Writing down goals makes you 88% more likely to accomplish them by programming your subconscious mind.
  • Science and spiritual concepts can be harmonious and work together to achieve goals.


KEY TOPICS:

00:00 Ace Allak: A Story Of Serendipity And Success 

03:51 The Backstory: From Humble Beginnings To Success 

11:07 The Great Recession: Navigating Business Challenges 

15:29 The Birth Of Christie's: Filling A Market Need 

24:12 The Genius Of "And" And The Tyranny Of “Or” 

29:01 The Power Of Writing It Down: Achieving Your Goals 


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Wealth Acceleration PodcastBy Wade Reed