Building and Teaching Wealth
Building and Teaching Wealth
What is the importance of perseverance in both personal and business growth?
This all started when I got into business while working for another company, JC Nichols. I was successful there, becoming Rookie of the Year and exceeding company goals in ways that hadn’t been done before. However, tragedy struck. My wife and two children were in a head-on collision, and it left my youngest unable to walk. Overnight, we were facing a mountain of medical bills.
That’s when my drive became more intense. I had to provide for my family and cover the medical expenses, so I threw myself into the business even more. I built a strong, loyal team around me, and we started achieving significant success.
Now, my son, who was three at the time of the accident, is 21 and in his final year at K-State. He’s in a wheelchair, but he’s living without boundaries.
Looking back, it’s still tough, but those moments define us as individuals. You can either hide from challenges or face them head-on. When you dive in and give it your all, you don’t just make a difference for yourself. You impact everyone around you.
How can business owners recover from bad investments?
Success takes time, and nothing comes easy. We've faced many challenges along the way and didn’t always make the right decisions. In 2007, we thought it was a great idea to buy a subdivision in our hometown of Tonganoxie. However, we bought it at an inflated price, and by 2012, the value dropped from $2.4 million to $630,000.
We had a large note to pay, but instead of giving up or handing it back to the bank, we doubled down. A bank approached me with another subdivision deal, and I bought it for pennies on the dollar to help offset the losses from the first one. After figuring out the process, it became easier to repeat it.
The key is making it through tough times to reach better days. There were other challenges beyond 2007, but successful people are the ones who take the hits, learn from them, and figure out how to move forward.
Why are strong business relationships crucial for long-term success?
In addition to other strategies, we went back to what made us successful in the first place—our relationships. I’ve always prioritized building strong connections with everyone involved in our business, not just the customers buying homes but also title companies, banks, and personal lenders.
These relationships have been key to our success. When people are part of your success, they want you to continue succeeding because their success depends on it too. For example, during the housing crisis, banks had a surplus of properties. Because of the relationships we built, banks preferred to work with us to offload these properties. Even on a national level, we didn’t know everyone at Bank of America, but we had connections from Countrywide who vouched for us. As a result, we became the go-to team to handle developments in certain areas.
How can business owners use networking to build long-term client relationships?
Networks are incredibly valuable. Through networking, you're naturally going to gain clients. In my business, whether it's a banker or a printing company that handles all my printing needs, we also take care of their real estate needs.
We’re connected to their business, which is growing—they just built a new building. When they think about real estate, they think of us as partners. Networking helps these connections develop naturally. That’s why I always tell people in my business not to force things. Don’t be the pushy salesperson. Let relationships grow organically, and business will follow.
*This interview has been edited and condensed for clarity.*
