It’s a vague dream most of us have that we’re not really sure how to define. We have that entrepreneurial itch, we’ve even build a small business of our own, but we don’t really know what it takes to make it to a level of true success. Tony Coretto is a guy who knows what it looks like and what it takes to achieve it. Tony and his partner began a business together without a lot of experience or savvy in the world of startup businesses. But as they learned in the school of hard knocks they discovered some timeless principles and strategies that made their business flourish. So much so that they sold it for big money and Coretto is now investing in real estate, dabbling in angel investing, and lots more.
Coretto and his partner didn’t really know what they were doing when they first started their marketing firm. They had mostly done contract work for others and inherited a big client from someone they had worked with in the past. That client opened their eyes to the possibilities of building something more significant and the journey began. On this episode of the Capital Gains podcast I’m speaking with him about the challenges they faced as the business grew, what they did to find the right team members, the psychological challenges of transitioning from part of the team to leader of it, and much more. Anyone who wants to become a successful entrepreneur will learn a lot from this guy. He is one.
As his company was growing, Coretto and his partner realized that the main thing holding them back from more growth was the two of them. They were the only ones doing the work for their clients and simply had no more bandwidth to add more. Their first step was to outsource some of the work to contractors, which worked for a while and helped them grow to the next level. But in time they came to see that full-time employees were the next step toward greater success. When they begin the process they learned very quickly that you have to take your time to ensure that you hire the right people. And if somebody is not working out, you need to do something about it quickly. You can hear the hard lessons learned from this successful entrepreneur’s climb to the top, on this episode.
When his business kept growing, Coretto and his partner began to entertain ideas for how they could grow their income and one idea was buying other related businesses. They were just at the point of exploring those possibilities when other business leaders began approaching them about buying their business. It wasn’t something they had thought about but figured they’d better consider it. Long story short - they sold the business for a tidy sum and today are doing the things they love to do - travel, family time, and more. Sounds like a dream entrepreneur success story, doesn’t it? You can find out how they did it, on this episode.
For my guest today that was a very valid question. He actually enjoyed building and running his business and felt that he had to find something to engage in that kept him sharp and built toward the future. He had already begun investing in real estate a bit and decided to crank up his investing quite a lot. That’s lead to the creation of a holding company, many rental properties, and possible land and real estate purchases in Costa Rica. You can hear what Corretto is up to and how he got there, on this episode.
Or at least it’s going to be. Think back to what happened to the alcohol industry once prohibition was lifted. Many companies sprang up overnight and the financial boom it was for smart investors was unheard of. The medical marijuana industry is poised to present a similar opportunity - only this time it offers an additional bonus - the use of cannabis as medicine is truly helping people (unlike alcohol). On this episode, Jonathan Twombly chats with Asher Troppe of Tress Capital about the opportunities that exist now and others that are coming as cannabis is becoming legal across the United States and even the world.
It’s easy to be skeptical about something that has come on the scene as quickly as the legalization of marijuana has. And with recreational use being pushed forward right alongside the medicinal uses it’s no wonder the average American is slow to accept the idea. But research and actual case studies are showing significant medical uses for marijuana that can’t be denied and those who are interested in investing in things that truly help others have an opportunity to both help and profit financially at the same time. This episode unpacks the legal and medical issues and paints a great picture of the opportunities that exist for savvy investors.
Every state in the United States has its own laws and guidelines for the use and production of medicinal cannabis, but it’s only a matter of time before common standards are created and enforced regarding the potency and use of it as medicine. The State of California has already passed a law that will soon require laboratory verification of the potency of medicinal marijuana. There are already companies that conduct lab testing to determine THC levels in medicinal cannabis - and they only serve about 5% of the medicinal market at this time. What’s going to happen when the regulations go into effect? Those companies will boom. The good news is, your investments could too. Find out more on this episode of Capital Gains.
It stands to reason that as regulation and law begin to legitimize the use of marijuana as a medicine that investment companies will step in to provide funding for the cannabis related companies out there and opportunities for investors. Tress Capital is one of those investment companies and on this episode you’ll get to hear from co-founder Asher Troppe about how Tress Capital is carefully positioning itself as one of the leading investment firms in the industry - and doing so from the standpoint of credibility and trust. It’s a great and revealing conversation.
It’s impossible for anyone to predict exactly what will happen in any industry. Investment forecasters have proven that to be true over the years. But all signs point to rapid and continued growth for the cannabis industry for the foreseeable future. With legalization spreading across the U.S. and more effective regulations coming into place each year, the need for companies and capital in the industry are going to become more and more in demand. Find out how you can get in on this growing industry at almost the ground floor, on this episode of Capital Gains.
Charlie O'Donnell is the sole partner and founder at Brooklyn Bridge Ventures. His fund makes seed and pre-seed investments to startups and was the first venture firm located in Brooklyn, the place Charlie was born and raised. Charlie’s got a particular interest in New York City startups and has gotten involved in the first round of funding for many companies to date, including Canary, Orchard Platform, Tinybop, Hungryroot, Clubhouse, Ringly, and goTenna. On this episode Charlie chats about his approach to choosing startups he is interested in investing in, what he looks for, why he thinks a good team and a great idea carry equal weight, and what he’d like to see happen in the realm of angel investing in terms of diversification.
It’s a proven fact that the return on investment (ROI) for the typical real estate deal far exceeds what you’ll see in the typical wall street investment. But the risks are - well - different. There’s a tremendous learning curve when it comes to real estate investing so you want to be sure you have your ducks in a row before you step into the game. Having a person like Joe Fairless as a resource and guide will definitely help you make that learning curve shorter, which is why he’s the guest on this episode of Capital Gains. Joe is an experienced real estate investor who makes money in real estate primarily through purchasing multi-family apartment buildings. On this episode you’ll hear how Joe got started, what he looks for in deals, and why he believes anyone can make money in real estate if they take the time to learn the business.