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So a big part of our thesis is that we can make this entire loan origination process work better with technology.

And by doing so, we can create a more profitable enterprise which can then be reinvested in either additional products and services for our customers or a more competitive product, or probably more likely some combination of the two.

I moved down from Rhode Island to start the company, just wanting to get around environment that I thought would be conducive to building out a technology and financial company. And they put you through the paces of what it means payday loans columbus ohio to start a company and you get to taste it if you will, before you do it. And the biggest thing that I think people that get it right do during this aspirational stage is they try to kill their deal or they try to kill their business. But what you really need to be doing is looking for all the reasons why this business is probably going to fail, because just statistically speaking, most businesses do. The people that are most likely to buy from you early are probably the ones that have the biggest problem and are most likely to pay you for it and you should find a way to extract that value out as quickly as you possibly can. And the second one, is actually run a financial model.

And this is one that almost no one does, but you could have a great idea that a lot of people are willing to pay you for that can never make money. And the other big one is understanding the actual cashflow on a pro forma basis of the company. All businesses go out of business because they run out of money.

And I loved your point about this is the part, or this is the timeframe where you should be actively trying to kill your business. Matt Rodak:Yeah, so I think the next stage which is a little bit less sunshine and rainbows from the aspirational stage is the stage that I call war mode. So if you run out of resources, you lose, like we talked about before. How are you building this excitement and this vision and enrolling people to effectively come work for you, either for free or likely at a discount to their market value? And what are you willing to exchange fdic affordable small dollar loan guidelines for getting those types of people along for the ride with you? You got to have an understanding of like, where are we going? So for us, our strategy and still is, was, we are focused on one to four family houses.

But you also have to realize, and this is one of, I think the advantages of being an early stage business is you have to be willing to change course as the battlefield evolves. I did all of our journal and our GLs on Sunday, that sucked. I hated that, but someone had to do it in order to close the books out on a monthly basis. So, got to tell you, Matt, number one, they aspirational stage sounds pretty darn fun. Please tell me three, four, and five, have some more of a happy medium baked in there somewhere. And this is the part of the business that setting things like your culture is super important. Now it becomes super important as what do we want to be when we grow up?

So I think coming out of that war mode and the war mode will define your culture a little bit, I think, how you act and how you react to things during that period.

But the peace time is really free loans for single mothers that opportunity of, think of in the US right after we fought for our freedom.

So for us, we came up with this acronym called HUSTLE, as we started to come out of our first war mode, say first war mode. And HUSTLE is an acronym for hard work, unity, success, transparency learn every day and empathy. We may not be the smartest or fastest or most well-capitalized company, but dammit, we can work hard. So not only writing it on the wall, but how do you instill those things in your every day interactions with one another and reinforce those things are, I think super important at peace mode. I love how you said defining what your success payday loans columbus ohio looks like through various means, including KPIs and knowing what your organization really looks like. And now this is the point that in peace mode where we actually focus on defining what this business looks like and who we want to be.

I love the whole, what do we want to be when we grow up? So I think stage four and stage five, they become somewhat of a fork in the road for where the business is going to go.

And a sign of this is you start to feel discontent within your people, maybe it gets hard to attract good talent. So the alternative to complacency, I think is this idea of what I call world domination. What do we want to do on a quarterly basis or an annual basis or even a weekly basis to create this culture? And it goes back to culture, and now this is money lending websites the next evolution of culture.

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How do we build this culture within our organization so that good is never good enough? The thing that I love about companies is, it creates a framework for people to achieve that personal improvement. The second one, I think that I get excited about is particularly, I think founders should be getting a lot of excited about is innovation. How do you come up with either new products, or new businesses, or new services, that now put you back into that aspirational stage of the company but not totally? Carol Scott:J, I want to take this for a second because I thinkā€¦ I love all of these analogies and I especially love how you wrapped it up fast pay day loans with world domination as the alternative to complacency mode and how critically important that is, especially with retaining your employees. Those companies that offered lots of new things, new growth, new challenges, exciting, fun things. There are certainly going to be founders who are really good at the aspirational stage and creating and having a vision. Matt Rodak:I think probably most startup founders, and I would include myself in this bucket, are good at the aspirational stage and the war mode stage. You have to be good at those stages, to get to the peace mode stage. So the people that make it through in the peace mode, I think generally are wartime CEOs. And they want to talk about all this stuff, instead of selling and building and getting rejected a thousand times before you get that one success. Some of, again, the EQ parts of the business, payday loans columbus ohio if you will, as opposed to the execution parts of the business. And I think the other piece of that is I read this the other day that as you start to become that peacetime CEO, less and less and less and less of your time should be spent in the business executing, which is also really, really hard for me. So in order for you to do that, as a naturally inclined wartime CEO, you got to bring the right people into the organization that are good at those kinds of things. And this is another super hard realization for a lot of people and myself included, is the people that got you through wartime mode, eventually need to either probably find a more narrowly defined role within the company or leave the company. So just like you said, Matt, it is so important to remain cognizant of how not only our roles change throughout this evolutionary process of a business, but how our employees and team members and payday loans columbus ohio other associate roles change to become successful and remain successful.
So best payday loan lenders to wrap up, Matt, what is advance payday loans no credit check next on the horizon for Fund That Flip? What is next in the pipeline for your world domination?

Matt Rodak:I was going to say world domination, of course.

So it sounds really easy on the face, but how do you one, hire the right person? Most, if not all of our customers are keeping some amount of these properties that need 30-year products to keep as portfolios. So at point of origination, we can just get you insured with replacement cost coverage, with the right co-insurance and everything else and purchase that at scale effectively so we can hopefully help bring cost down for our borrower. But I do want to ask one question from the four that I know our listeners will very much appreciate. And one, it starts to make you feel bad, inadequate. So I think what gets put out in the media and what companies put out is always the good stuff and never the bad stuff and you as a founder or CEO or business operator, you see both of it from your side probably with more of a focus on the bad stuff. So can you tell our listeners where they can find out more about you, where they can find out more about Fund That Flip, maybe where they can connect with you and anything else you want to mention to our listeners?

And thank you for sharing so much and being so open with us today. Really made me look through it with a different lens, and loved every little last bit of it. And we will talk to you next week here on the BiggerPockets Business Podcast. PATLive is available to answer your calls 365 days a year. Their virtual receptionists are all located in the U. Canva is personal loans fair credit the online platform that makes designing anything easy for you and your team. There are thousands of professionally-made templates to get you started and all the high-quality ingredients you need to customize your designs.