In episode 112 of The Fierce Entrepreneur, Cindy Rodriguez interviews Dr. Matt Motil on how he was able to build passive income after going through a divorce, being diagnosed with cancer, and surviving the house crash.
Cindy Rodriguez has been an entrepreneur since the early 2000’s in some way, shape, or form. She started in entrepreneurship with her own web and graphic design company.
She is now a co-founder and in charge of marketing of a tech startup.
Let’s get started…
Dr. Matt Motil on How to Stay in the Entrepreneur Mindset
1. About Dr. Matt Motil
Matt lives in Northeast, Ohio.
He lives with his wife Amy, who’s also his business partner, and they have 5 children.
He enjoys traveling, and likes to draw, paint, and read.
Matt is a real estate investor that grew up in a household where college wasn’t an option, he was going.
He received a degree in mechanical engineering, and went on to get his MBA and PhD.
He has been in real estate since the 2000’s as a side hustle.
Matt helps remote investors invest in real estate in the Midwest Market.
2. Tell Me About Your Business and How You Got Started With That…
Matt helps remote real estate investors have success in the markets that he has service in.
His company basically takes care of everything for them to create passive income.
His business came together organically.
He started as a real estate agent, and had been doing real estate since the 2000’s (unofficially).
Matt fell in love with the passive income and after many years in the industry and more opportunity than he could handle himself, he decided to go full time with his business.
3. When Did You Know You Were an Entrepreneur?
Matt knew he was an entrepreneur in college.
In college, he joined a fraternity, where they “took over the world,” and was able to find a connect network.
He felt once he was able to create his own destiny, there was no going back. He was made to be an entrepreneur.
The momentum he gained as a college student was never going to be found in an employee.
It took him awhile to know that walking away from the construction industry did NOT make him a failure, but he always knew he was destined for more.
4. How Did You Deal with the Criticism Associated with Quitting Your Job and Pursuing Your Dreams?
Matt said it was hard.
He had to develop a thick skin, and block it out.
He had the support of his, Amy, and that was all that mattered.
If you don’t have that support, it’s hard to get out of your own head.
Are you willing to push through it?
5. What Was Your Greatest Entreprenuial Challenge?
Matt’s hardest challenge was the self doubt.
Even though he had done deal upon deal, there was always that fear of not doing it again.
It’s said that 80% of people fail, so having the ability to learn through the struggle was challenging.
A business is 2 steps forward, and 1 step back, so you almost need to remove yourself from the step backs.
Matt said you need to analyze the struggle so it doesn’t happen again. It’s all about asking the right questions to come up with solutions so whatever went wrong this time, won’t go wrong again.
6. What’s Your Favorite Business Book?
Matt loves audiobooks.
His favorite book is Rich Dad, Poor Dad. He read it as a college kid, and it opened his eyes.
His favorite business book is Traction.
7. If You Could Have Lunch With 1 Business Thought Leader Who Would It Be?
Matt picked two.
- Elon Musk
- Mark Cuban
He believes he would get more information from Mark Cuban because he finds their personalities similiar.
8. Aside From Not Wanting to Work for Someone Else and Your Family, What’s Your Why?
He realized he was in the “middle class trap” and how hard it is to get out with an entreprenuial mindset.
With being in the middle class trap, you find yourself being OK with burying yourself in debt.
Matt found college created good employees, and he was an entrepreneur!
Real estate helped him get out of this trap, and he wants to help as many people do the same thing!
9. What’s Your Favorite Internet Resource App?
Matt said Podio, which is an open source system that is web based.
You can create apps within the program that can be custom tailored for your business.
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