Business and Self-Development Q&A W/Reece Wabara |
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- Опубликовано: 8 фев 2020
- Welcome to episode #002 of the podcast. In this episode Reece and Lewis answer valuable questions from you viewers.
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Time stamps for questions below;
0:00 - Whats the key to making a successful business?
2:48 - Tips on scaling a brand?
6:33 - Tips on Facebook Ads?
16:10 - How much money do you need to start a brand?
25:14 - How to spot trends?
29:42 - Have we ever nearly ran out of money?
33:20 - What are our views on property investing?
40:57 - NEW TOPIC "Self-development"
41:01 - What are your top 5 books?
44:01 - Audio books vs Reading?
46:40 - Whats the point of reading?
47:37 - What are our daily routines?
58:40 - How do you know when to quit and move on from an idea?
01:05:07 - Should I buy into a business course?
01:08:47 - What makes a good leader?
01:12:03 - How much does luck play apart in being successful?
01:14:10 - What are our goals and visions for the next 10 years?
01:20:46 - How to over come the fear of starting a company with little money?
Time stamps are awesome, cheers.
I love how Lewis keeps drilling down on Reece's answers. The more detail the more value for us. Nice one!
Thanks MJB!
These two podcasts have been the best two podcasts I've watched for a long time, I can't wait for the next 100.
Jordan Pallett thanks so much!
This is brilliant. As someone who wants to get into the property game, this is invaluable and would love an in-depth podcast with Lewis just on property.
Thanks Doody!
I believe that this will become one of the most influential podcasts of this decade, keep pushing forwards Reece & Lewis - the plethora of knowledge you spill in these is invaluable, thank you!
Shooter thanks a lot! We will share our experience and hopefully help a generation
In regards to property Lewis touched on it briefly and the use of leverage, it’s not just a long game but it’s all about Reece diversifying his capital.
The thing with property and buy to let’s (BTL) is to purchase below the market value and buy a property you can add value to, you want to buy and refurb + fees (solicitors,stamp, surveyors etc) to equal the amount the bank will be willing to loan to the new value on the property.
So for an example you may have purchased at 150k + 25k refurb + 5k fees = 180k capital invested, the new value may be 220k and the bank will loan 80% loan to value (LTV) on a commercial mortgage. meaning they will kick back 180k meaning all your money has come out that you invested.
Ultimately meaning you have all your money back and you have a loan against the property, the key is that your tenant is currently paying your mortgage and fees etc for it to be managed and you take a small profit per month until the mortgage is paid of 10/15 years.
It’s important to buy in good areas with good tenants to avoid arrears but it’s one of the only true forms of passive income.
If the property rents out at £1000 a month, it’s costs £400 mortgage (roughly) £100 to manage and a further £100 for other cots
Your profit is £400 a month, so your making an additional profit until the mortgage is paid of and you’ve received all your money back from refinancing and when you go to sell the property in 15/20 years you will be able to sell the property for 220k
You can repeat this process as much as you physically can meaning you can turn 180k liquid capital into millions of pounds worth of assets that are part of a stable market, you’ve diversified your portfolio just for safe keeping, your initial investment has always come back to you, and you’re receiving a passive income for the next 15/20 years.
there’s a reason mass amounts of million/billionaires wealth either started with property or they’ve secured it and maintained it with property.
The thing you want to be looking at is if you know the high street is dying, is turn unused shopping centres to serviced living 👀 really kicking off in China and America, where they convert the buildings into a complex where you buy an apartment but you have all the luxuries and convenience of amenities, like a gym,pool and cinema. Not big in the UK at the moment but will be!
No cutting each other off just smooth communication 🔥🔥🔥
Real brain food... 10 years ago you could never have in-depth value from business moguls for free with 24 hour access.. so valuable very good content thank you
You're welcome 🙌
Episode three should be a detailed breakdown of both your business journeys so people understand you’ve lived what you are advising !
Literally been wanting these deeper insights from Reece for a couple of years now and thankful to Lewis, who frames the conversations very very well and keeps it on track. Hopefully you're both finding it enjoyable to show more humble insights i.e. Reece having to sell his cars to keep the business going. Very motivating.
Ash Takher thanks! We work great together!
Amazing podcast Lads
I love how you’ve also added time stamps, definitely helpful to see an overview (just like with any PowerPoint or a lecture) before you invest yourself in a 1+ hour video 👍🏼
🔑🔑
100% !
Everything you guys said relating to marketing and business fundamentals is absolutely bang on. I run a marketing agency and I often get clients expecting FB / IG ads to deliver 4 X ROAS when they haven't sorted back of house. I literally have had this conversation with people so many times. Good to see it spoken about broadly. No amount of advertising will fix a poor business model.
This is really helpful! Many thanks it is so rare to find such full informations in 1 video ☺️
Great pc! People take Aleem the wrong way sometimes but he’s honesty a very caring and considerate bloke. Emotions sometimes make communicating to others your journey more difficult.
Loved the due dilligence advice at the end from actual business owners - this is something im trying to warn people about due to property being so unregulated and fake gurus and sharks being everywhere
Aka Scamuel Leeds 😉
Big ratings guys, very solid discussion. Agree with everything you’ve said and strangely enough, I have a lot in common in terms of how you started. Hopefully I’ll be on here one day, give it a few years yet. Still in dev but in a different field. Keep it up 🙏🏽
Two absolute G’s, so much value in this 🙏🏼
Another great episode guys, love how raw this podcast is. Excited to grow myself along with the podcast! A topic I would love to see you two cover is how you deal or have dealt with the negativity around you- i.e. general public/ colleagues/ family etc. moaning about the weather, living for the weekend and all of that type of stuff that sinks into the subconscious- I know from the first two podcasts it's important to surround yourself with good people and those that are what you aspire to be & more but family and general public will always be there.
would love to see reece and the represent owners George and mike on here in the near future talking about their journeys and now being a successful brand.
So much information absolutely invaluable well done!
Amazing podcast! So so helpful!
Awesome episode! Thx a lot!!
Thoroughly enjoyed this guys. So informative and motivational 👌👊 thanks
Top 5 books read them all, really good recommendations! I like to use audible when I’m running
Great podcast. Learned so much!
You know what...this q & a between you boys is my favourite episode so far...where's your mate gone? Not seen him on any of your recent podcasts?
Idk how i found your last ep, but your boy is buzzing to see ep2! Keep it up guys!
Afsar, Thank you
Loving this
Christian Guzman on the podcast that would be epic.
Next time he's in the UK he'll be on if he has time 👊
Fingers crossed for that. Lewis I also know that you follow Fortnite and streaming so perhaps it would be interesting to have one of the UK top streamers/content creators around esports to come in and offer a different perspective on how such a business is run. I know Mongraal, Benjyfishy, AliA are UK based, surely there are more👍
@@walky7 Potentially yes! We plan on getting the best in each field on
CG on this podcast would be 🔥.
I can't wait for that
Nice value! Thank you for the podcasts!🙏🏼
Thanks Julian 👊
Great podcast guys. You're both amazing examples of individuals who give their all to anything they do! From the podcast set up, to the preparation & selection of questions, you both come across as if you've been recording podcasts for a long time! Keep up the good work, and keep providing VALUE!
Thanks Jake
I love this podcast 🥰🥰🥰
Appreciate you guys answering my question. Loving this podcast🙌🏼
Cheers josh
So much value. Thank you both. Much love and admiration from Buenos Aires!
Thank you
Can you do a video introducing yourselves and your backgrounds? Your two podcasts are the first time I've come across you guys. Really great content so far and I'm already a big fan!
Thanks Josh
Great Interview lads!
Thank you Wabara and Lewis
Cheppar our pleasure!
The value in this is unreal!
Cheers David
Would love to see 1yelir in IG & Reece talk apparel
Great content guys. Thanks
👊
Amazing content thanks guys! Gave me a lot to think about! 👌🏻
Thanks Leah
Thank you so much
Great content guys, keep it coming👍🏽
🙏
The 21 Irrefutable Laws of Leadership - great book.
I see my guy Lewis kicking about the building site in the wraith
👌
Awesome stuff guys, would defo be keen to hear your insights on business development, how you attain new customers etc, also would love to hear more on the property side of things 🙏🏼🚀
Thanks Mike
Lex would be a great pc guest!
I love the podcasts Lewis. I listened to this one while at the gym on the threadmill. I have never spent more than 50 mins on the treadmill but I am excited to say today I have spent 80 minutes as I wanted to finish your podcast. Truly motivational. If I could give some advice is to improve the audio in terms of volume. The sound is not really loud and I am sometimes struggling to hear what is being said. Other than that keep smashing it and thank you for putting this content out
Thank you dan
Dropping the value!
Cheers Chris. Glad you enjoyed
Great info guys, Lewis could you explain why you distanced yourself from Gymshark? Was the business going in a direction you didn’t agree with? I always thought you were a great personality for Gymshark
Quality podcasts Lads 💪🏽
michael kyriakides thank you
Hi can you go into more detail about your fasting journey’s?
What is lewis’ role within the business exactly? Appreciate the insight you both offer, excited to see whats coming in the future 👏🏼
Thanks Kieran, Co-Founder and now a silent shareholder 👊
Hey i love these podcasts aha. Wish i had some friends like this. But everything attracts, when you become like them then those people will be attracted.
If ur broke ur not gonna be hanging with the rich. Get sure money right, and then your social circle will develop its self and attract its self naturally.
16:51 Wednesday 6th May 2020
2 episodes in and already my favourite podcast on the internet 🤷♂️ can anyone recommend any other podcasts at all similar ? Thanks
Gus Adamiw no it’s just the best 🙏
Facts
Great podcast once again! Excellent analysis by both of use by both going into details about certain areas. One question Id like to ask or a few actually.
Are both of you religious?
What do u both think of brexit and its impact on sme/business in general.
Last question might be a bit tricky as I know you won't want to alienate any of your viewers but it is called the realism podcast after all!
Thanks jack, we'll add that to the list
You guys should look into getting “Urban Financier” onto the podcast, he has been involved in some of Chuckie Online podcast before - it’ll be great linkup!
His IG :@urbanfinancier 👍🏽
🙏
I second this^^ Urban Financier would be great!!
For sure, he’s brilliant to watch. @Lewis, your questions to him would be different and drill down into different areas. Would blow up I think, just look at how well his vid has done on Halfcast podcast
Thank you 🙏🏻
You’re welcome 🙏
Lets goo boys
🙏
when you both talk about fundamentals of a business, can you clarify the main ones.
i currently have a clothing business and the product is great but we dont have any sales, could you point me in the right direction.
how do you sell?
where do you sell?
how do you attract people to where you sell?
why do people buy from you?
you can't expect a general answer to such things; there is so much more to that
I've DM'ed both of you on IG and Lewis on LinkedIn, I'd love to hear from either of you - it would make my year to have my brain picked by you guys!
Unfortunately this is all we can do for now! 👊
Interview young and successful entrepreneurs, but only real ones. Not those who say "look at this video it's fireeeeee skrt skrt"
Great podcast, a lot of decent content. I'd say I know stock picking can be fun and lucrative, but I'd definitely stick a portion of your stock investment capital into index funds like the S&P500 or an 'all world' fund which just tracks the top 500 companies in the US or the world. Compound interest is a crazy thing with index funds. May seem slower potential growth but it's averaged 10% a year for well over 50yrs!
Noted!
Keep talking about what yall want I love it all. Heaton brothers separate would be cool.
Cheers Alex 👊
41:50 ---> Books to read
Want to know what kind of brand Reece would like to start after MDV. Very curious.
I think he started BeSaint Clo. But sold it already?
@@ivar_dgtl interesting. Thanks for sharing!
Love the podcast! I do have a question for you. You both are obviously successful but how do you go to and from the office in your supercar, or wear nice watches without annoying other employees? have you ever had any issues with this? Asking because we own a group of successful companies but are worried that coming into the office in something like a Ferrari, comments would be made and might demotivate people. interesting to hear your thoughts.
Hi Andrew, Well address still like this in future episodes. It all comes down to respect levels.
Guess what regardless people will still talk so you might as well do y what you want.
What websites or platforms do you guys use to invest? If anyone else has any suggestions please drop them below!
Role model. Do you have an email so that I can contact you to feature at some point one day on your podcast. Young entrepreneur in Switzerland driven by my vision! Also very very focused on self-development, learned so much about it thanks to my personal life. I look forward to hearing from you soon. Thank you.
How did Lewis become a co-founder of two large/successful businesses considering he started off with no money?
Hi Lewis, how do you price your product online. If it’s better then comp do you go cheapest? To beat competing on volume etc - we have product that is in technology better specification then anybody else on market we just want to price is correctly is it better to go higher so you can come down on sale later?
Why don't you expriment? Also start higher and come down lower. It's better to get cheaper than expensive.
When investing in companies such as amazon etc.. what websites/apps do you guys use?
Our banks offer this investing platform
Realism Podcast with Reece & Lewis is it like an isa or is it a separate account where you choose what to invest in?
Episode with George and Mike Heaton please
On the cards 👊
Realism Podcast with Reece & Lewis wow that was quick..thank you 🙏🏼
❗️QUESTION❗️ for Reece & Lewis
I currently have an business idea and plan but I’ve got a massive fear of feeling like a fraud, I’m stepping into an industry which has so many people further along and ahead of me, more knowledgable etc I’m a perfectionist so when I don’t know everything or have every answer it worries me that I’ll never gain traction because who wants to buy into someone business or platform when I don’t know everything?
Has there ever been a time you felt out of your depth in regards to industry knowledge or knowledge with running ads etc and how did you over come it?
Your first business is probably gonna fail, like for a lot of entrepreneurs. It's like lositn your virginity, it's always awkward at first, but it's the only way you can really learn and build confidence. A lot of competition means the market hot, which is a good sign. If you're too scared continue educating yourself on what you're not confident with (Google is your friend), and map out step by step in great detail how you will build this business. This last one will force you to think about it practically and identify the information you need. Anyway good luck on your journey! Don't hesitate to give an update in this thread later
Strive For Excellence I appreciate the advice 🙌🏽 it’s appreciated and definitely food for thought.
I have had previous business which I had passion for but I understood that not everything lasts and I think this is the main hesitation for my main passion, it’s wanting it so badly that you don’t want this idea that you love so much to be the idea that is a lesson instead of a blessing.
If any progress is made I’ll be sure to leave a comment 🙏🏽
Just Do It.
You say you've never been on a course but then how did you study facebook marketing, Google ads and etc. Did you not have a mentor?
Ghazzali Kulzir trial and error, google and RUclips! Like with everything we’ve learned
💎💎
👊
Best way to invest 10k UK?
Garyvee should learn from this not interrupting
Did you blow that £100 Mill?
Kinda feels like you're trying to pump the old juice.
Be thankful, mate. Time is money and they’re both donating generously. So much value in this content 🙏
The raspy balloon inadvertently fold because wrist experimentally return an a strange rule. clumsy, courageous way