Business Ideas That Will Change Your Life in 2024 | Abraham Gray
Wealthy Way
Ryan Pineda
4.8 • 2.1K Ratings
🗓️ 20 January 2024
⏱️ 62 minutes
🧾️ Download transcript
Summary
Meet Abraham Gray, a seasoned entrepreneur with experience in thousands of real estate deals and over 500 business sales, as he shares his journey on the Wealthy Way podcast!
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Connect with Abraham!
Instagram - https://www.instagram.com/abrahamgrayofficial/
YouTube - @abrahamgray
Abraham's entrepreneurial spirit dates back to his teenage years when he started his first business selling sports cards at card shows and later ventured into Beanie Babies.
During the 2008 market crash, Abraham invested millions in real estate, seizing the opportunity to hire top-notch employees who were available due to widespread layoffs. He emphasizes the importance of saving money while also actively seeking investment opportunities.
One notable venture involved being the first to establish a "we buy gold" store, capitalizing on the value of gold as a commodity. Abraham leveraged his ability to buy businesses from competitors, swiftly growing his own enterprises and eliminating competition—a strategy he notes as instrumental in the success of many large brands.
Abraham discusses his experience with businesses that may be considered fads, such as escape rooms and ax throwing. He highlights the profitability of escape rooms within a short timeframe and the cost-effectiveness of ax throwing locations.
Drawing inspiration from Ryan Pineda, Abraham joined Wealthy Creator, hired a camera crew, and underwent the course, significantly boosting his success. He emphasizes the power of a strong social media presence in opening up new opportunities.
Reflecting on past mistakes, Abraham emphasizes the importance of clear communication and well-defined responsibilities in partnerships. He now starts with small partnerships and progressively scales up based on successful collaboration. Additionally, he stresses the significance of building a top-rate team by hiring the best individuals and compensating them well.
Both Abraham and Ryan agree on the principle that being the best at what you do, regardless of the field, can lead to significant financial success.
Transcript
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| 0:00.0 | Most of my businesses have 15 to 30,000 a month coming in every single month from each business. |
| 0:04.4 | I don't do real estate. I don't do business. I don't do lending. I do all of it. |
| 0:08.2 | I was the first one in the country that ever have a We-By gold store. I opened up one, |
| 0:11.7 | and started making a ton of money |
| 0:13.1 | before you know what I had 200. |
| 0:14.3 | You had perfect timing on beanie babies, |
| 0:16.5 | real estate, gold, always have a bunch of ideas, |
| 0:19.3 | so I assume those three they hit hard. |
| 0:22.0 | My guess is there was 10 that didn't. |
| 0:24.4 | What do you see as some upcoming trends? |
| 0:26.4 | Obviously, I'm really heavy into. |
| 0:28.8 | What's up, well, builders today? |
| 0:32.3 | We are back at WealthCon. I got one of our speakers with us. This man dude he is diverse I one day hope to grow up to be like him. He has done thousands of real estate deals, has sold over 500 businesses. |
| 0:44.1 | I got Abraham Gray. What's up, what's up? |
| 0:46.8 | You know what's crazy is everybody always wants to be what the other person is doing. |
| 0:50.6 | Like I look at you, I'm like, like man this guy has blown up in social media like |
| 0:53.7 | the biggest following I'm like I want to be like Ryan when I grow up you know it's like always |
| 0:57.4 | you see what's you know unbelievable about the other person yeah well not but that's what's |
| 1:00.6 | good about getting together with high performers, right? |
| 1:04.0 | Because you can always take something from everyone else, right? |
| 1:06.4 | It's like, all right, dude, I want to learn social media. |
| 1:09.0 | All right, I got you and I'm like, bro, okay, so teach me how you did this. |
... |
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