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Secret Academy Episode - Matt Eldridge

Having no formal education, not even a high school degree, Matt Eldridge knew entrepreneurship was in his blood. With both parents operating businesses, Matt got the itch and launched a few small businesses in high school early in his career. After saving a bit of capital, Matt invested in real estate at the peak of the market and made a good fortune flipping properties utilizing to cut out broker and real estate agent fees. Matt had tremendous success and was even asked to help join the team to help grow the company. During that time Matt noticed his hard sell approach often came across as blunt in emails costing him sales. He knew this was a problem spread worldwide and invested several hundred thousand dollars in, a tool to help analyze the tone of emails for major corporations. Unfortunately, sign-ups didn't equate to sales and he had to cut his losses quickly after things didn't work out. From there Matt mixed his passion of golf and entrepreneurship and founded Foursum, a comprehensive mobile app for golf hobbyists that allows you to connect with friends but also improve your golf game. Having the best app on the market caught the attention of several professional PGA players and sponsors like Puma.

Lesson's in Today's Interview:
  • How Matt got the entrepreneur mindset with no college degree
  • The two things that matter: execution and surroundings
  • Why you should surround yourself with smarter people at all times
  • How Matt made his fortune through real estate flipping
  • Why the business model worked so well for Matt
  • How Matt was able to grow to earn Franchise of the Year Award
  • How awareness and observation give birth to Matt's business ideas
  • Why Matt believed in Lymbix/ToneCheck to invest over $500k of his own money
  • How Matt finds technical partners that complement his skill sets
  • Why it's important to control your emotions to cut your losses quick
  • Looking back, the reason why Lymbix failed and lessons learned
  • The birth around the idea of Foursum app
  • How he got Puma and professional PGA players to sponsor the app
  • Why it's important to identify where your customers hang out
Full Episode, Downloadable Podcast, and Other Episode Resources Available for Members Only:
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Frank Gruber
Founder of Tech Cocktail
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Ian Altman
Founder of Grow My Revenue