How to Turn Your Passion into Profit With Josh & Lisa Lannon
Ken had the opportunity to sit down with Josh and Lisa Lannon. They have such an inspirational story because they turned something they were passionate about into a profit. With Josh a bouncer at a club in Vegas and Lisa a police officer for the city they were two people who you would have never guessed would become two very successful entrepreneurs who gained financial freedom. Yet, they knew they both had a passion for those struggling with addiction and decided they were going to figure out a way to make that mission profitable. They studied, went to seminars, worked with Ken McElroy and Robert Kiyosaki, signed up for online programs, and really understood the business model they wanted to step into.
They felt making money on real estate was the way to go, but knew they needed to pay for that real estate. They decided to buy homes and use them for treatment centers. That way the treatment centers paid for the real estate. This business model exploded and before you know it that had a full fledged business that was serving their mission and paying off their real estate.
With such a successful business eventually they had a company offer to buy it. Upon selling the business, they were able to keep the real estate and currently the business they sold makes monthly rental payments to them on all of their properties. They figured out how to turn their passion into profit and so can you. You just need to educate yourself, have a plan, and know how to implement it and you too can live the entrepreneur life.
Full Transcript below.
- hey guys Ken McElroy here here with Josh and Lisa Lannon and my good friends also rich dad advisers and I wanted to ask them a couple questions because they have a really really super cool business and they've been able to build a business and buy real estate and invest all through doing things socially in other words they found kind of what they wanted to do and they turned it into a business and now of course they're multimillionaires so welcome guys thank you thank you yes so let's talk a little bit about you know because I know a lot of people like to do businesses and sometimes you know they want to do things that are that are you know doing well at the same time that they're making money and you guys have obviously done that very successfully can you talk a little bit about that?
Yeah I mean our passion is chemical dependency treatment so guys and gals are struggling with addiction and our primary focus is for veterans first responders and and in that you know we then go into that to make money we went into one for me to help me quit drinking yeah you know you're an addict yourself right yeah you know I mean whatever I haven't drink since 2000 the story is that you were an addict and you turned it into a business you turn that issue into something to help other people something that I was struggling the way they thought well if I'm struggling with this other people must be struggling with too so when I got sober built a business Lisa and I built a business helping other people get sober but the intention never was to make money it was that's an important point yeah right the money it was about helping others and we could do it through business and through real estate correct right and then what happened I remember is that's when you started seeking out your team absolutely and I mean we've read all the rich dead books Ken you know you're an advisor that goes back in 2001 so we read all this stuff we became students and we saw that the business could be real estate. We have a passion which was sobriety which was really cool so what they did is they bought these big houses like these mega mansions and then they started putting the attics in them right yeah and it was incredible business plan and so so the business of helping the people paid off the real estate yeah we went through all the licensing and accreditation process I mean we then real no we were doing it first we made a lot of mistakes we put the team together we hired the right people and we we had inpatient treatment centers yeah I remember at one time you had a lot of employees right how many how many do you have we had close to a hundred at one time yeah a hundred employee so I mean from starting from you know no knowledge at all right 100 employees and and then then you sold that right so we had a large private equity company come and make us an offer in late 2013 they made us an offer they wanted to buy out the business because of our reputation you know in the community of healing.
We went through the whole process in the beauty of it was we sold them the operations and we kept the real estate lease it back to him that was the best part right because yeah because now again the business is paying for the real estate right which is the model we talk about a Rich Dad so we sold the business but we kept the asset right so good so good and then what was really neat is then they took that money and then you bought a ranch we did right so let's talk about that cuz that's kind of the next journey and journey healing yeah and in talking to Robert and the guys who said don't lose your momentum I mean technically we could have retired in our 40s it could have been done well late 30s and don't lose momentum we had a passion we had a purpose there are huge problems out there that still need to be solved so we took that knowledge we took those resources.
We purchased a large ranch in Texas called warrior's heart and now we're focused just like I mentioned earlier for active military right veterans police firefighters first responders because they have no work to go well it's really neat about that you guys are way ahead of the curve on this issue because right now you're starting to see a lot about it you know then the 21 or 22 push-ups and all that is it 22 people die in a day right 22 veterans commit suicide a day yeah a day that's a big thing it's mind-boggling number is it's unbelievable to me I just what you know so you guys are way ahead of it and yeah we're the first private facility in the u.s. that caters specifically to this population no one else is doing it in the private sector they may have tracks but they're still in groups with with everyone else and it's not about the money I know that's so mind-boggling well and the really cool part is is that you get to hang out with like these these ex-military SEALs that's tonight but that's the best guys right because and they're all coming to you with PTSD and all that right yeah we've had guys from the DoD Department of Defense CIA the FBI Special Forces Special Operations you wanna do your job right right well you know they've been trained up to do a job now then they come home they go what where are my skill sets applied and there's a difficult time transitioning back yeah and what I hear mostly cuz we had an Army Ranger in our office for a while and he said in the military I could I could rely on everybody and everybody had my back and in the real world it's not necessarily that way right right unfortunately right yeah so that actually it kind of comes back to team you know because that's essentially what it is that's what he would say that's why we realist because you come out it's all dysfunctional and you go back in and you're back into a team again that's why teams are so important yeah right you guys are building that out so what what is your overall why like you know like you guys as you said you could retire but now you haven't now you've taken on you know the reward for doing a big project is a bigger prize right so so what's your why question well our wife for this is you know once we knew there was 22 veterans that commit suicide a day one law enforcement officer every approximately 30 to 60 hours depending on well you know the year it's like and no one's helping them so it's like what can we do to solve the problem you know being a retired law enforcement and family and military we know it we have friends that are in the military and they were just suffering it's like what can we do so that's our wife.
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If you ever have an idea of wanting to do something socially this is a great example of somebody who's doing good and they're making money because your company your is now paying for the ranch that's right right and that's creating for your net worth and it's a great place to park it's a great thing to do and you have your family there too and your kids are learning I'm sure just an incredible lesson as well right good and you guys are all kind of living and working together right so I have a question if somebody's getting into business right now and you guys know this happens a lot and their money is the motivation you know what would you say to that person well money is important I mean it controls all of our lives right it's important to have a basic understand the numbers and the numbers have to work because I could be passionate about my job my business but if it if it doesn't pencil out then you're just spinning your wheels so but if it's the primary driver is the money that's an addiction yeah then that's a drug that you're chasing and it's never enough that's a good point this is a guy that's that specializes in addiction - so it's true it's true it's never enough but if you work for a higher purpose a higher calling then you can be fulfilled and the money is great to have - but it's a byproduct of doing goodness work you have to be smart about the money it shouldn't be the primary yeah because money just amplifies what's going on inside it if I'm rot and I'm a jerk it when I have money it's just kind of a bigger jerk have that strong foundation that's strong why to get you up in the morning money's not gonna get you up every day yeah it will short-term I'll be a short-term hip and then yeah and you need more and more and more so let's say somebody has a passion or something that they're interested in and they want to start but they're not sure what are some of the first steps you know like like you guys took and what are some of the things that they could do to kind of get them some momentum right I think one of the first steps would be finding a mentor or coach who's already in that field I mean what a great way to learn from someone who's already doing it willing to share we found that most entrepreneurs are willing to share their knowledge they're not there to hold secrets but to give back.
I would say the first step for us is we became students again yeah we read books we studied we went to seminars like Blair seminars phenomenal we would be we became students we wanted to go to him and then apply the knowledge yeah that's the part I liked you know you actually brought a lot of things that you learned in some of the seminars back to your team absolutely to build the team part of the reason you guys got so much money where your business was because it was tight with all the principles that you guys had that's hot right yeah it was super good so I agree so find a mentor and get back to school that's not necessarily school right it doesn't have to be become students of what ya learn right go to the events and seminars and apply that knowledge yeah it's a lot different like if like my son's right now in school and he hates it right because he's sitting there listening but it's different if you're passionate about something that's right and you're going there and you have honor you're on a mission you know and you're thinking okay how can I take these things and apply it to what I'm trying to do - exactly you know what I mean it's a lot different it's more fun yeah it's not being addicted to acquiring more and more knowledge and never applying it yeah which happens all the time right another degree in and it's not necessarily about the Greeks it doesn't have to be through the traditional school system yeah correct that's the other part I like right you can you can leave that's a bad teacher yeah thanks guys I appreciate thank you.
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