7 Millionaire Secrets I Wish I Knew Sooner in Business

Welcome to another insightful episode of The Raquel Show. Today, I'm diving deep into the seven lessons I wish I had known sooner when I was growing my business to its first million dollars. These lessons come from years of experience and the incredible journey of building a successful business from scratch. Whether you're just starting out or looking to scale your existing business, these insights are designed to help you fast-track your success.

In this episode, I reflect on powerful lessons such as the importance of mindset, the discipline required to generate revenue, and the value of investing in your growth. I also share personal stories, including how my initial investment in a coach led me to my first six-figure income and eventually a million-dollar business. Tune in to discover how speedy execution, expanding your circle, continuous learning, and maintaining a robust CRM can transform your business and life.

Key Takeaways:
Mindset is Everything: Believe in your goals to achieve them.
Discipline for Revenue: Consistent efforts lead to consistent results.
The Importance of Investment: Invest in your business and coaching.
Speedy Execution: Move fast and adapt quickly.
Expanding Your Circle: Surround yourself with smarter, successful people.
Never Stop Learning: Stay hungry for knowledge.
The Power of a CRM: Keep detailed records of your clients for long-term success.
For those looking to level up, I’m opening up my one-on-one coaching slots for two new clients. We also have the Agent Accelerator Program kicking off, designed to help you grow your business in just six weeks, and a retreat in September in Aruba. Visit LetsPlayBigger.com for more details.

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Thank you for joining me on this episode of The Raquel Show, and remember, keep pushing your limits to achieve your goals.

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Transcript

Raquel Quinet: 0:00

The most that I've ever paid for a coach was 100, 000 for a year, but it got us to our first million in our coaching business with no ads, all organic relationships. And my first real estate coach, which was in 1999, it was a thousand dollars a month. And I put it on a credit card and guess what? My credit card limit was 2, 500 and that was scary. But guess what? It got me to my first hundred K. Welcome to the Raquel show. This show is for entrepreneurs who want to play bigger in business and in life. And last week I had spoke to one of my past clients who I absolutely adore, Jillian Murphy. She is a sales coach in the online space who crushes it. When we first started working together in about 2021, she hit her first six figures and in less than six months, she had hit her first six figures in a month. And now she runs a million dollar business. Coaching Business, Coaching People on Sales. And her group consisted of early entrepreneurs who were just starting out. There were people in there that actually were starting out their side hustle and had a goal of 24, 000. And the highest one in there was about 200 to 250 as I got to hear all of their goals. And for those people that were at the 24, under 50, 000, I know how much it costs to actually be in that room. And so it really got me thinking, what if I was in their seat listening to some of the guest speakers that Jillian had brought in, which I know were her mentors or of high caliber. What's one thing that I would love to know? And it's one of the things that I also ask on the podcast when I interview people is what's one lesson you wish you would have known sooner? because just from that question, you can learn so much that could fast track your business. And in this episode, I want to share seven lessons. I wish I would have known sooner when I was growing my business to my first million or seven figures. Number one, is mindset is everything. Whatever goal you have, you have to believe it's possible. You have to believe it first because like the quote says, if you can believe it, you can achieve it. You have to bet on yourself. If you can't believe it, then you'll never take the actions required to go do it. If you don't believe it, then how are you going to sell others on your dreams or others that you can actually service them as clients? And that's why I believe that affirmations and visualizations are so important when you're trying to achieve a goal because you are pre programming your mind. Number two is discipline to do whatever it takes to create the revenue because without revenue in a business, you don't have a business. And from doing so, doing all the different things, you learn how to produce the results. And when you have the results, you just have to figure out how you got there. Because when you have your highest revenue, you're The key to that is figuring out all the things you did to achieve it because just like in real estate or owning your business, you have high months and you have low months. The goal is to keep producing high months and repeating the actions it required to get you there. You got to build the habits to operate on a schedule and you have to have the discipline to go do it because without revenue, like I mentioned. You don't have a business and it can only last for so long because guess what? Revenue gives us options. Revenue allows us to create the leverage. allows us to build the systems or to invest back into our business and take some for ourselves if we pay ourselves a salary. Number three is invest. You have to invest in your business and in things for it to grow exponentially. You won't know everything when you're starting out. And when you're growing, you have to figure out what the plan is. Who can I get the help from? How can I get there as quickly as possible? I hired coaches when it was scary and still today. 25 years later, I'm still hiring coaches because why? It puts pressure on me and it puts pressure on the business. And when I want to learn something, I know they have the experience to go do it quicker. It also holds me accountable so I don't slip too far. And when you want to go, let's say to your first million, and let's just say that you're at your first 100, 000. Right now you have a gap of 900, 000. Go pay a coach and tell them, what is it that I need? What are the skills that I need? What's the schedule look like? What are the action steps that I need? And what are the systems that I need? Instead of trying to figure it out on your own, I promise you, it will never cost you 900, 000 to hire a coach to get to your million. But it will cost you everything and it will slow you down if you try to figure it out on your own. And the top coaches that I see in our industry, in the real estate industry, online coaches is actually a lot more, is 40, That's top coaches that I see right now in the real estate industry. But you can make that up with the knowledge you get, the plan that you get, and could you actually double your business or even triple your business? when you hire a coach, You actually have to do the work. The most that I've ever paid for a coach was 100, 000 for a year, but it got us to our first million in our coaching business with no ads, all organic relationships. And my first real estate coach, which was in 1999, it was a thousand dollars a month. And I put it on a credit card and guess what? My credit card limit was 2, 500 and that was scary. But guess what? It got me to my first hundred K. I had never made a hundred thousand. And when you invest in your business, You bet on yourself. And you can go to lots of free training. You can go to even masterclasses today. You can go to even free masterminds. But think about it. We're in the middle of 2024. How many classes have you gone to? How many free masterminds have you been to? And how much have you actually executed? See, this is why you need coaches because they keep you on track in where you actually want to go. It is why coaches have made the biggest impact in my business and in my health by far. Number four is execution. Ideas are great, but without execution, they're worthless. Speedy execution matters. And I absolutely love spending time with people who move fast because it helps me move quicker. And in business, there are goals and deadlines. I think about. When you get into your business in the beginning, you seem to think, Oh, I have a business. I have all this free time in the world. And I remember my friends and family would tell me like, I didn't have a real job because I had my own business. But what I'll tell you is the most successful people in business are super disciplined. They move fast, like time is running out. And it's a great trait to have because when things change in your business, You pivot and you move quicker so that your business doesn't suffer. I'll even take a look at my best coaching clients, right? And I've been coaching for a long time. The ones that have doubled, tripled, 10X their business. They have one thing in common. They move super fast when it comes to execution. Look at Blockbuster, the company that went out of business as soon as Netflix hit the market because they refused to adjust. And in some of the masterminds today, during the calls. I'm super guilty of this, that I'm a part of, I am executing on those calls. I'll go off screen and I'll start creating things because when it comes to speed, it matters, right? I am guilty of being on Canva during a mastermind call because I just want to get it done. And sometimes it's quicker for me to get it done than to explain it to my team. I know, but when it comes to speed, it's a quality that I look for in my team. unless you are our bookkeeper or our accountant, because that is probably an area where I want to make sure all the I's are dotted and all the T's are crossed because you can lose a lot of money. Number five is expand your circle. Get around smarter people. Expand your circle and get uncomfortable. Relationships are the key in business. Get in those rooms that make you uncomfortable. Get in rooms that you feel that you shouldn't even be a part of because Growth does not happen in isolation. You have to sometimes get out of your comfort zone and out of your circle to get different results. They say you are the average of the five people you spend the most time with. There were plenty of rooms that I probably shouldn't have been in, but I was lucky enough. to squeeze my way in or to hang out with a friend that happened to go into those rooms. And I'll tell you, it exposes you to different levels of conversations, to different things that you never look at it the same way. Number six is never stop learning. Be hungry to learn everything in your business. I remember when I first started in real estate, I was eating, sleeping, breathing real estate. I was the first one in the office and usually the last one left. And it's still like that today. I still work the most as I'm navigating learning different things in our companies. I am constantly learning on the weekends. In between games. I usually will be listening to a podcast on my way to the games. I am learning and investing in courses today, and I can tell you a little bit about courses is I still, to this day when I'm learning something new, always want to coach that can fast track those courses for me. Because, here's the thing, I'm not afraid to ask people for help when I want to learn new things. It's probably a skill I learned early on because people are always willing to help you when you ask. I don't pretend that I know everything and when I first started out I used to ask all the top agents if I could help them so I would listen to their phone calls on how they prospected because when you're learning a script or you're learning things for the first time or you're building your skills it's so different from when you're reading it. or when you're actually listening to a top agent, navigate through a conversation with a potential prospect or a potential client. And I would listen to their phone calls or how they talk to their clients, how they negotiated their offers. I would ask them, could I sit in their open houses because they didn't have teams back then and people? safeguarded their business practice. Why? Because it was so competitive and nobody at the time wanted to share. If they had a listing appointment that I heard them book, I'd say, can I go with you Caesar on your listing appointment? I will be your assistant and just take notes. I did this all for free, but I gained the knowledge so quickly. And I'll never forget. The agent by the name of Ron Sweet, who reminded me of myself when he first started. He was my agent that was so hungry to learn. You could never tell by looking at him that he was going to be an agent that killed it. Why? Because he was my jokester who had such a big personality and made me see that a brand new agent could put 8 escrows in a month by his 3rd month. He started out with 2 his first month, then 4 his second month, And of course, in Coach Raquel fashion, I said, could you actually double that the next month? And he did, but he was rare because if he saw a class or he saw an appointment on my calendar, he would want to ride in the car with me and ask me all these questions. And he always had a notebook and he always made notes on days where I told him I was coming from another appointment. He'd be waiting at the property to meet me there. He was able to start a team. Lead a team. And I am so proud of him. So anytime that I think of learning something new, I think of getting into the Ron Sweet mode and number seven is have a CRM for your customers and know everything about them. A CRM is a database that stands for customer relationship management tool. I know it may be a pain, but having an email list or a database of having your information on your customers will be the best thing you ever do for longevity in the business. If you have a database with everyone you've met, just think about it. If you had put everybody that you have met in your life into one database and back then they used to say put everybody in your Rolodex or put everybody in your black book And it's so true and today you could probably use your phone, but think about if you put everybody in your Database, and maintained it. What would your business look like today? See, a CRM is so powerful because it remembers all the little things about your clients, about their dogs, about their special celebrations that it's really hard to keep track when you grow your clientele. And right now, I'm in the middle of organizing our database. It always seems like we're organizing our database. Because I've failed to tell team members how important it was having the information in one CRM and maintaining it. My first five years in the business was built on open houses and referrals and a CRM. My first four years of our coaching business was built on a CRM. on referrals with no ads, all organic relationships, and now we're expanding into different things. See, we are looking to get more exclusive with our private clients because one thing I've learned over these last couple of years is people don't want to be treated as a member. So remember that with your clients, treat people like it's your only client. if I were you, start going through your social media friends and start putting them into your database. And if you follow me on social media, one of my coaches actually challenged me to go through all of our social media friends and followers. And on IG, he said, Cut your followers that you follow and just go through that and see if you can get to 2, 000. We were at 6, 000. See, databases need to be maintained and updated. And some of the followers that I have are no longer in business, right? I had met them in 2020. And I think it's so important to have accurate information in your database because in real estate people move, people have divorces, people expand their families, and people change their emails and when you can have accurate information you can have better relationships and better conversations. You see when you're learning and growing Sometimes people don't understand the amount of effort you have to put in. And people used to tell me, Raquel, you work so hard. Yet around my friends and circle, they say I probably work the least. To whose standard are you actually measuring up to? Sometimes you're in a season. of your head down because you're just trying to make it. You're just trying to climb to the next level. It's supposed to be hard. It's supposed to be uncomfortable, especially when you're learning new things. And by doing things, you start getting comfortable. By doing the reps, it starts to feel comfortable. just to recap, when it comes to the seven things I wish I would have known when I was Hitting my first seven figure or million dollars is number one, mindset. Whatever goal you have, you got to believe it's possible. Number two is discipline to do what it takes to create the revenue in your business. Number three is invest. You have to invest in your business or in things for it to grow exponentially. Number four is execution. Ideas are great. But speedy execution is everything. Number five is expand your circle. Get around smarter people. Get around people that have the experience that have done what you want to accomplish, because when you're exposed to it, you can't unsee it. And number six is never ever stop learning. Be hungry to learn everything in your business. And number seven is have a robust CRM or database of your customers or clients. my friends, here's my challenge to you as we get into the second half of the year. Do we need to act as if we were just starting out? again, to change the speed of our business today? Do we need to challenge ourselves to get into different rooms? Or do we need to challenge ourselves for the second half of the year by operating like we truly only had six months to accomplish our 2024 goals? What would we need to change? You cannot change the first six months of 2024, but you can change the trajectory of the next six months by the choices you make today. And what got me thinking about this is, since my kids are out of school, is what would it look like if I Ran my business calendar year like a teacher. Nine months and I had the summer off and what if right now it was only six months? Could I work longer hours from Monday through Thursday and have Friday, Saturday, Sunday off? You got into business to create incredible things. And are you, I'm going to ask you, are you fully committed to actually playing bigger? And playing bigger takes massive action. And when we take massive action, we inspire others, especially others around us. So if you're looking to level up, we have several things to help you grow. First, I'm finally opening up my one on one slots and have room for two clients. So send me a DM if you're interested or go to our bio and fill out our application. And we have other things that we've got going on like our Agent Accelerator Program that we're kicking off that's designed to help you grow your business in six weeks. And we also have a retreat in September in Aruba. So if you're interested in any of this along with other things that we've got going on is go to Let'sPlayBigger. com. Thank you all for hanging out with me today. I appreciate you all. And if there is ever a topic you want us to cover, send me a DM. And until our next episode, don't forget to keep playing bigger, my friends. Thank you for listening to this episode and hanging out with me today. If you're loving the Raquel show and you've gotten value from it for your business, For your life. Please don't forget to hit the follow button. So you never miss an episode. I'd love to connect with you further. So text me at www. textraquel. com and send me a message. You'll be added to our VIP list for updates and special events. We're hosting for our community. I look forward to hanging out with you on the next episode.