Scott Duffy with Grant Cardone Full Interview

Hey, everyone. My name is Scott Duffy with Entrepreneur magazine and S1 Media, and I am here with the one and only Grant Cardone. How you doing, brother?

Good, man. Good to have you. Good to have you in my home. And.

Well, so, okay, so we talked a lot of business, and everyone knows about 10x. Everyone knows, you know, the work that you've done in real estate and Auto, the Fortune 10, Fortune 100 companies you've done consulting with ranging from Google to Ford, building out sales processes and all kinds of cool stuff, right? We can talk about that. But what I really want to talk about is your killer daughters. Your daughters are awesome. And I saw three things when I walked in the door today, three things I seriously have never seen before. And it started with how they shook my hand, right?

Nice grip, right?

Well, it's not only a nice grip, but this is so cool. They shook both of them shook my hand, and they said, my name is and I can do anything. That was so cool. How'd you teach them that?

You know, so. So look, I, you know, I hear parents, I hear people meet kids, and they'll say, oh, your kids shy. I remember somebody walked up to one of my kids one day and said, oh, your kids shy? And I said, hey, man, my kids not shy. And I grabbed Sabrina. I said, look, you're not shy. You just. It's his responsibility to make you comfortable, too, you know? And I told the dude, I said, dude, my daughter's not shy. You're ugly. I didn't say that in front of her. But. And, and, and, but I told the kid, I said, look, look, you want to. You want to control how people feel around you, right? And. And you want to always have a sense of control. So we just started practicing. How do you introduce yourself? How do you make eye contact? What are you going to say? Who are you? What's your pitch? And so we worked out a pitch, you know, and. And I said, look, your name's Sabrina. Your name's Sabrina Cardone. You know, there's a lot of things you could say right now to get people's attention. A lot of people know me, so you could say, I'm Grant Cardone's daughter. You could say, I can do anything. But you want to. You want to snap. You want to set a hook. You want to get people's attention, right? And she's like, yeah, I can do anything.

What about the person who's started to sell? Okay, so their business is picking up. They're starting to sell. They want to generate more revenue. But they feel like they can't afford. Afford to hire a sales team or put sales processes in place. How do we handle that?

So again, like, like now, now we're down to, you know, there's 28 million small businesses in America, most of which read entrepreneur.com 22 million of them, though, need to read a little more and need to study a little more. Because 22 of the 28 million small businesses have no employees. Some guy or gal decided they're going to work for themselves.

I read a stat recently. 53% of all billionaires worked for someone else. Okay? 53% of them, okay? Now how many people do you know are like, I don't want to work for anybody else. This is what you hear people say, I don't want to work for anybody else and I don't want to sell, okay? 53% of all billionaires, okay, the hundred richest people on the planet, not just billionaires, the richest came from working for somebody else. So the point of that is this. You. You know, we don't know a company that's ever done it by themselves. Like one individual. Okay? Maybe Jesus is the. And Even Jesus had 12 guys working with him. Okay? So, so, right. I mean, he had a team, right? You got to have a team, man. I don't know how you're gonna. You want to become more than a salesman, you know, like, once you become a great salesperson, your goal is got to become. Want to become a great business person. And. And that means you need to. You need to understand money. Money is to be used to share with others so that you can get control of something bigger, right? So I don't want money to save money. You and I were brought up, but your mom, I'm sure, taught you, save your money. Save you money. Save for a rainy day, right? You heard that? Yeah. You live in Orange county, dude. It never even rains. See? See, she should have said sa.

Which, by the way. Which by the way, is really concerning to me, just kind of. Cause we're talking about your kids. Is I lived in an area where we have to pay extra attention to making sure that our kids really understand the value and the work that needs to go in, you know, to every single day to make these things. Yeah, yeah.

Like, the kid was going off today, and I said, look, here's the deal. Here's the 20 you earned. You can go buy your little thing. I don't give her a lecture about, it's not gonna be worth anything tomorrow. I said, or when you get to the store, Fondle the little package, look at it, smell it, do whatever you want to do with it. You can even open it there if you want to. Okay. And by the way, if you come home with the 20, I'll double it next week. So I'm trying to teach her. Right. She's got choices, right? So. So it's back to the.

But what you did is you. When you did that, I saw this. I saw this happen. It was awesome. What you did is. Is you said, think about that. Let's think about that. And you took her through that process.

Yeah. And then it's. It's her choice.

Yeah.

Now she gets to make the bad choice or the good choice or whatever that is. Right. So. And then I have to be disciplined enough. Look, he's rapping, Carter. And I have to be disciplined enough as a parent to stay, like, strong, like a stranger. Like, the real world is going to treat her later because they're. The real world is not going to give her a break. So back to this money thing. The. The, the, the. The. And this is why I would go back and do my career different. Because, look, the money thing needs to be figured out. Money concepts of yesterday, Dave Ramsey, even Kiyosaki, okay? These ideas of compound interest. For example, there is no compound interest on planet Earth today, okay? When you're paid a quarter of a percent at the bank, you can compound that every day. You can compound it any way. You can compound it every hour. Dude, it's a half a percent. And the compound interest was created at a time where our parents were earning 8, 9, 10, 12% at the banks. So that doesn't exist today. So you got to really start thinking about, do I want to save money? Money's earning a half percent. It's going down in value every second of every day. The purpose of money is you want to take money as fast as you get it and reinvest in your business and. Or reinvest in hard assets that can produce more money.

When's the right time to pay yourself?

I think the right time to pay yourself is like, when you. When. When you have so much money, you can't figure out how to get rid of the money. So I made a mistake early on of paying myself first. Like. Like, I. I took money. I hoarded everything. Okay? I've been terrified about money most of my career. So I would make money and I would hoard it. I would take any. Like, I've always lived on very little money. Like, I don't have a big. I'm not driving Lambos and Ferraris. I was in a Lambo yesterday, so I might be driving one. But. But, but. Because they're so sexy, right? But, but, but I know that I don't want to spend 250 grand on a liability, you know? I'd rather use somebody's 250, 000 car and get rid of it. This house. We rent this house. I come here, I use it. We leave. I'll never come back to this house. I know. For sure. Never, ever. Okay? The next time I come here, it's gonna be a different house. I get to use all these things. Like. Like, you know, sharing.

It's like the sharing economy. It's. Yeah, it's awesome.

Yeah, that's. That's the game. The game is not to own stuff. The game is to use stuff. Right? Even people. Now, I know. I know people are gonna hear that and say, oh, did he just say use people? Yeah, I did. Dude, they should use you, and you should use them. Me and Scott are using each other right now, and to the degree that we both win in a bigger way is good. Okay, but we're both losing something too. That whole win, win thing. Dude, there's always a loser. You're losing time right now. I'm losing time. I'm losing part of my Friday. You're losing part of your Friday. We both are willing to lose in order to win, right? So people need to rethink about saving, saving money. Kios, retirement plans. Why are you guys stashing money in a retirement plan when you hadn't even grown your business yet? See, I don't want a retirement plan, dude. I want a freaking business that freaking takes care of me.

When's the right time to pay yourself?

I think the right time to pay yourself is like when you. When. When you have so much money, you can't figure out how to get rid of the money. So I made a mistake early on of paying myself first. Like. Like, I. I took money. I hoarded everything. Okay? I've been terrified about money most of my. My career. So I would make money, and I would hoard it. I would take any. Like, I've always lived on very little money. Like, I don't have a big. I'm not driving Lambos and Ferraris. I was in a Lambo yesterday, so I might be driving one. But, but, but. Because they're so sexy, right? But, but, but I know that I don't want to spend 250 grand on a liability, you know, I'd rather use somebody's $250,000 car and get rid of it. This house. We rent this house. I come here, I use it. We leave. I'll never come back to this house. I. I know. For sure. Never, ever. Okay? The next time I come here, it's gonna be a different house. I get to use all these things. Like. Like, you know, sharing.

It's like the sharing economy. It's. Yeah, it's awesome.

Yeah, that's. That's the game. The game is not to own stuff. The game is to use stuff. Right? Even people. Now, I know, I know people are going to hear that and say, oh, did he just say use people? Yeah, I did. Dude, they should use you, and you should use them. Me and Scott are using each other right now. And to the degree that we both win in a bigger way is good. Okay, but we're both losing something too. That whole win win thing. Dude, there's always a loser. You're losing time right now. I'm losing time. I'm losing part of my Friday. You're losing part of your Friday. We both are willing to lose in order to win, right? So people need to rethink about saving. Saving money. Kios, retirement plans. Why are you guys stashing money in a retirement plan when you hadn't even grown your business yet? See, I don't want a retirement plan, dude. I want a freaking business that freaking takes care of me. So. So. And people are standing like, we don't have a key at my. My company. Because I don't. I think they're. I think they're freaking criminal, you know? I know. They were created for Wall Street. They weren't created for you. They were created. Some guys on Wall Street. Those. These guys are brilliant. Yeah. They're like, how do we get all the money? These are the conversations they have. They're sitting around, they're having drinks. How do we get all the money? Probably smoking some reefer. How do we get all the money? They're not thinking about. Dude. They're not thinking about selling you a product. Yeah. Oh, hey, what we should do, we should get our boys on in Washington to create a little thing where we give them a little benefit if they give us all their dough. And then. And then somebody else had too many drinks and they're like. And make sure they give it to us for 30 years, too. I mean, they just start masterminding, bro. And they're like, wow. Think we could do that? $3 trillion are sitting in kiosk right now. Ignored money. This is money. That has been abandoned and ignored that you can't even get access to. And by the way, if you wanted to, you'd be like, I'm going to get fined if I do that. I'm going to tell you, everybody should get that money. Who's got my money? Some of that money sitting on Wall street right now. Ignored. So I'd go get that money and then figure out what can I do to put it to use. Customer comes before service. You got to get a customer that will pay you and then complain. Okay, get a customer, don't take care of him first. Get a customer first, then service him. And I think a lot of people trying to service to get a customer, they never get and they never ask for any money.