#10: Growing Your Net Worth From Nothing to More Than Three Million with Adam Sommers

Episode Notes

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Sponsors

FAEM Pro Services

www.faemproservices.com

www.sommersfinancial.com

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*Time Stamped Show Notes: *

[1:25] Wise moment of the week

• Failure is ok just learn from the first mistake.
• Even better, learn from others. 

[3:40] Sponsor plug www.faemproservices.com

[4:40] Introduction of Adam Sommers

[11:10] First job after college

• Corporate accounting software firm was not a good fit for him
• Moved back to St. Helens to work as an accountant for a company and did pretty much everything

[16:00] The problem with the corporate world

• They move too slowly
• Aren’t as close to the customer

[20:00] Side gigs helped Sommers Financial

• Teaching...frustrating

[23:30] The start of Sommers Financial

• Planning for people get to the next phase
• The next phase is assets paying you

[25:30] Side gigs

• Limo driver
• Coaching
• Uber driving

[27:00] Finding ways to put money towards assets

[29:00] Finding value in investments

• No dessert….doesn’t have enough value
• A third in your business, A third in the market, and a third in real estate

[31:52] How to set up a professional business space

• Branding, colors
• Layout

[34:00] How to make your tax bill lower

• Retirement plan 401k, IRA, Roth IRA
• Tax Strategy
• Real estate
• Call a certified financial planner

[37:40] Giving your customers a complete experience

• Think what else can you provide your customers
• One stop shop

[40:00] Ask your customers what they want

• Surveys
• Asking at the end of calls
• React to what your customers are saying

[42:15] Using your network to better guide your clients

• Chamber of commerce
• Other business groups
• Be careful of joining the wrong groups

[47:00] Mentorship

• First boss was extremely helpful
• Also a real estate investor
• Has another friend from college that helped a lot with real estate

[50:00] What is the key ingredient that you know now that you didn’t know when you started

• Important to have empathy with you customers
• Don’t take things personally

[52:00] Where can you find Adam Sommers on the web? 

• www.sommersfinancial.com

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-Extro: Another big shout out to Adam Sommers and this episodes sponsor ** FAEM PRO SERVICES***. And with that we Thank you for listening to episode 10 of the Against All Average podcast, we’ll see you next time! 

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