Applying Sales After Leaving the Sales World w/Sam Silverman

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Episode Description

Welcome to the Freedom Point Real Estate podcast! Jeremy Dyer interviews today's guest, Sam Silverman, about why he left sales, how he still uses his sales skills as a LP investor, what he looks for in a deal or sponsor, how to decide which asset classes to focus on, what inspired him to started Fully Funded, and more.

Sam Silverman has been an entrepreneur since his early teenage years, starting with building and selling an event planning company at 14. After playing baseball in college at the University of Tampa and studying marketing, he started his career in software sales. Working for start ups, large private companies, and publicly traded companies, Sam led 100+ person sales teams and owned annual revenue portfolios of $50m+. During his corporate career, Sam built a portfolio of single family homes, but quickly transitioned to investing as a limited and/or general partner. He has invested in 65+ deals as a limited partner over the last five years. Over the last four years, Sam has sponsored projects across multiple asset classes in real estate, debt and service business roll-up strategies. Currently, he is focused on scaling his business buying platform and Fully Funded, his capital raising mastermind community.

CONNECT WITH SAM SILVERMAN!

Website: https://fullyfunded.capital/

LinkedIn: https://www.linkedin.com/in/samfullyfunded/

CONNECT WITH JEREMY DYER!

Website: https://startingpointcapital.com/

Instagram: https://www.instagram.com/startingpointcapital/

LinkedIn: https://www.linkedin.com/in/jeremydyer

Facebook: https://www.facebook.com/startingpointcapital

Book a Call! https://calendly.com/startingpointcapital/discuss-investing-with-jeremy-dyer?month=2023-12

Summary

Tip #1: Sales Is the Foundation of All Success

"Sales feeds everything. Whether it's personal life, dating, or business, the ability to create win-win scenarios is essential."

Sam emphasizes that mastering sales is the most critical skill for entrepreneurs, as it drives every area of business. He highlights that sales not only enable you to move from idea to revenue quickly but also foster personal growth through effective communication and relationship-building. The ability to influence others and create alignment ensures progress, whether you’re pitching a product or forming partnerships. Practicing sales techniques and seeking feedback is key to refining this vital skill.

Tip #2: Look for Undervalued Opportunities

"In the paving sector, small companies trade at 3-5x EBITDA multiples, like buying real estate at a 20-30 cap."

Sam shares how he identifies sectors with hidden value, such as paving companies with scalable potential. By acquiring complementary businesses and fostering synergies, such as feeding one company’s work into another, he creates exponential growth. This insight teaches entrepreneurs to look beyond traditional industries and assess opportunities based on scalability, necessity, and resilience to technological disruptions like AI.

Tip #3: Evaluate Sponsor Credibility and Ethics

"When things don't go as planned, will the sponsor maintain the same level of attention and detail?"

Sam underscores the importance of choosing investment partners with strong ethical foundations and long-term commitment. He advises investors to vet sponsors carefully, focusing on their track record, attention during challenging times, and dedication to fulfilling their promises. Trustworthy sponsors act as the backbone for ensuring the success of long-term ventures, which is crucial for mitigating risks.

Tip #4: Always Keep the End User in Mind

"At the end of the day, can the tenant or resident still afford it?"

This insight stresses the importance of practicality and affordability in real estate investments. Regardless of the business model or value-add strategy, understanding the end user’s capacity to pay ensures a sustainable investment. Entrepreneurs should balance ambition with empathy, aligning growth goals with the needs of the communities they serve.

Tip #5: Community and Accountability Fuel Growth

"Having people around you who are focused on the same thing is really powerful."

Sam highlights the benefits of creating or joining a supportive community like his Fully Funded program. Being surrounded by like-minded individuals fosters motivation, collaboration, and idea-sharing, which are essential for solving bottlenecks like capital raising. Entrepreneurs often face loneliness, but tapping into a network of peers provides the strategic insights and accountability needed to succeed.

Tip #6: Learn How to Scale Businesses Efficiently

"In multifamily, you have limited levers to pull. In business, you can create more synergy between operations."

Sam compares real estate and business acquisitions, emphasizing the broader opportunities in businesses with operational synergies. He explains how merging complementary operations amplifies efficiency and value. Entrepreneurs should focus on scalability by aligning processes, resources, and goals across ventures to unlock exponential growth potential.

Tip #7: Adapt to Changing Capital Markets

"Deals have gotten better, but capital has gotten harder to raise."

Sam addresses the shift in the financial landscape, where securing capital has become more challenging despite improved deal opportunities. This reality underscores the need for robust marketing systems and strategies to attract investors. Entrepreneurs should refine their capital-raising efforts by streamlining processes, leveraging technology, and building trust with potential investors.

Tip #8: Focus on Ethics for Long-Term Success

"It’s much harder to come back from unethical decisions than from a deal that didn’t go as planned."

Sam advises that ethical practices form the foundation of a sustainable career. While mistakes in execution can be corrected, a tarnished reputation is nearly impossible to rebuild. Entrepreneurs should prioritize transparency and integrity to build lasting relationships and ensure long-term business viability.

Tip #9: Invest in Skills That Offer Lifelong Returns

"Learn sales—it’s a transferable skill in any area of life."

Sam encourages listeners to focus on developing evergreen skills like sales, which are applicable in virtually every industry and stage of life. These skills enable adaptability and resilience, giving entrepreneurs the tools to succeed regardless of market fluctuations. Continuous learning and practice in areas like negotiation and persuasion empower professionals to thrive in various contexts.

Tip #10: Think Long-Term When Partnering with Others

"I’d rather find someone on the come-up who’s thinking about a 20-30 year horizon."

Sam stresses the importance of aligning with partners who are invested in long-term growth rather than short-term gains. This mindset ensures that all stakeholders remain committed to the vision even during difficult times. Entrepreneurs should seek collaborators who value persistence, shared goals, and sustainable growth strategies.