The Ren Men Show Episode 22 – “Punched in the Face”

Guys, that alliteration with the hit boxer ain’t no good, cause usually a Boxer who is hit does not come back to win. I’d rather go with MMA and say that you have been taken down, but pull guard and will grind out a submission. It’s maybe not as catchy but more of a reality.

It’s good to see that not everybody is doing great, which might go into the category misery loves company There are always setbacks, just work through them, I am sure you’ll make it. You were the guys who got me off the bench again. I have been working hard on a lot of my projects so I can start creating some passive income, even though it’s not easy I see progress and I know, that if I keep the pace up I will succeed in a relatively short amount of time.

I have never been to New York, but these guys have made some fantastic “trips” http://www.nopromiseofsafety.com/?s=new+york&searchsubmit= , might be a bit out of the picture for your family trip though

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Grant and Alan,

Checked out episode 22 – I see that you’re ‘keepin’ it real’. There are bumps in the road for both in-house employees and business owners…At least your experiencing the bumps while trying to create something unique and personal.

Vending – I had a small vending company for a while – I ended up losing my motivation by encountering similar frustrations and disolved the company (Top Shelf Candy) liquidating my equipment on Ebay at about a 40% loss. That was around a decade ago, but I can relate to what you’re going through.

Auto Sales – I think that the challenges you’re facing with your recently acquired cars pertains to the age and mileage. You’ll likely want to establish a system for qualifying potential purchases – Maybe an 8/80 plan (not buying any cars older than 8 years with more than 80k miles). I’d try to target a 5/50 approach to gain confidence that you’re not setting yourself up to make lemonade. The wheels may cost a bit more at the onset, but it will take risk out of the situation while making the product more appealing to the purchasing public.

Watched the Do What You Love episode by Adam Baker. Good interview. Shame about the weather.

Take care,
Matt

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Good Episode. It’s always good to know that other people have set backs too, but that they can be over come.

Question on the property. You’ve got a formula you use to pick out houses (addressed in one of your first episodes) and it takes into consideration the appraised value… Why do you go thru with the purchase of a property if the appraisal doesn’t match your criteria? …oh… was this on the refinance portion of the formula, where you try to get your initial investment back out?

Sounds like you need to hire yourself a VP of vending for the Ren Vend Group… (wasn’t one of your mothers doing your cash collection?) If you are taking calls, doing repairs, and moving machines that doesn’t sound too “lifestyle design” to me! Maybe Sonny is looking for a job haha

Ready, Fire, Aim gets you off the bench fast… but it is going to take some course correction. I’m sure that on your first several houses you didn’t “know” what repairs would cost to fix. The Auto group will have a similar learning curve (actually, I’d guess it’ll be a little harder as there is more variety of issues in cars than homes). My suggestion would be to bring a mechanic with you on your auction runs… pay for the expertise you don’t have but know you need. I’m guessing a few hundred bucks for a good mechanic to go with you might have saved you more than he cost (at least in hind sight).

The big lesson I got out of this is that cash reserves are a BIG help and will cover mistakes while you gain new experience and knowledge.

thanks again for putting out such a quality show!

(oh… the volume of the intro scene seemed a bit loud compared to the rest of the show)

You guys kick A$$

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Hey guys,
I’m a new renmenion. I’ve gone back and watched several episodes though. A few things: I love how dynamic your team and businesses are. I love that you are family guys. I’m 28 and have 3 kids and sometimes wonder if starting a business will be too much of a risk. And last, thank you for sharing the details of your day-to-day struggles and successes. It is eye opening to see what entrepreneurship is all about. I know you had a rough week but these are the moments that will define you and take you higher.

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Guys,

I am a first-time commenter. I found you through the “Man vs. Debt” website. I have spent the last 2 slow days at the office watching all 22 episodes of the RMS straight through, awesome idea and job!

I want a lifestyle very similar to you guy’s. I am 37, 3 kids & wife, mortgage, but that is our only debt. I read 4HWW 2 years ago and started down the path of researching all I could about being in business… but I am still on the bench.

I LOVE cars! Your move to go into used car sales is very interesting. I would love to be able to fill the need you have for a salesman and mechanic; but I live in Denver. I would be very good at diagnosing cars at auction and giving you a good ballpark repair figure on site. I have done all my own repairs and maintanance to my own vehicles for years, and even worked in a garage for a month recently between jobs.

I hope to gleen tons more info from you guys, and I plan on reading Rich Dad, Poor Dad soon. I have read Crush IT!, T.P.E., The Tipping Point, The Richest Man in Babylon, and continue to be a sponge.

Renmenion always,

Andy Y.

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