I had the pleasure of interviewing Rene Lacad, a 23-year-old college dropout turned six-figure entrepreneur. He’s generated over $2,000,000 in revenue for over 8 different companies and now travels the world running his businesses from his laptop.
Thank you so much for joining us! Can you tell us a story about what brought you to this specific career path?
It all started when I was attending a local community college. I barely graduated high school with a 2.1 GPA, and now my college GPA was even worse. I knew that there were only two options, I either forced myself to do something that I wasn’t truly passionate about, or I take the leap of faith and believe that everything would be okay.
At that point I knew what I had to do. For as long as I’ve remembered I’ve always been a risk taker and this was no different. I dropped out of college and began learning as much as I could about sales and marketing, the path that lead me to entrepreneurship.
Can you share a story about the funniest mistake you made when you were first starting? Can you tell us what lesson you learned from that?
I think the funniest mistake I’ve made is under negotiating on a business deal. It was one of my first meetings with a larger client, and I was a little nervous so I came in with a proposal that was WAY too low and I instantly knew I messed up when they agreed immediately.
When you go into negotiations, you almost expect a back and forth until you’re able to come to an agreement, but when they agree to your first proposal, you know you messed up. Biggest lesson always let the other party speak first.
Which tips would you recommend to your colleagues in your industry to help them to thrive and not “burn out”?
Two things come to mind. Setting goals and enjoying what you do. When you set goals you don’t burn out because you keep your eyes on the prize and love the feeling of getting closer to accomplishing them. The process is a lot less stressful on you when you know where you’re headed.
Enjoying what you do is fairly self explanatory. It’s the same reason professional athletes like Lebron James can continue to be excellent after playing basketball for over a decade. When you genuinely enjoy what you do, it starts to feel less like a burden and puts you in a state of flow.
How have you used your success to bring goodness to the world?
Going into entrepreneurship I quickly learned about providing value. The more value you provide to those within your sphere of influence, the more successful you become. I make sure I live by this ideology. I do everything I can to make sure that I use my platform to inspire other entrepreneurs and pay it forward. Ultimately I want to set an example of positivity for everyone that I interact with.
What are your “5 things I wish someone told me before I started my company” and why? Please share a story or example for each.
- Don’t underestimate yourself – When I started my first company I looked at it as a way to make money on the side while working a job. Had I known the potential from the beginning my company would be much farther along than it is now.
- Network – Understand the value of networking. A majority of the clients that my digital marketing agency works with come through referrals and the only way to get referrals in marketing. It never hurts to know as many people as you can.
- Know how much work you’re in for – The common misconception is that owning a company is less work than working for one, but that’s not true. I remember some days when we were starting up where I would work 12 to 14 hour days just to get my business on its feet. It’s just something that comes with being an entrepreneur.
- Build Systems – Systems make your life ten times easier. When I started my company a lot of simple, everyday tasks took a very long time to do when we could have gotten them done in a fraction of the time. By implementing systems, we’re able to be more effective with our time and in turn do a better job for our customers and clients.
- Think Long Term – Always look at the big picture whenever you start something. The ultimate goal has always been to scale your business as fast as possible, but if you don’t look at the big picture you encounter a lot of growing pains. By thinking long term, you’re always primed for growth.
You are a person of great influence. If you could start a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. 🙂
I would start a movement to give people the freedom to live life on their terms. Too many people feel trapped in their everyday life and that can have a negative impact on not only how they feel but others around them. The feeling of freedom and the positivity that comes with it is contagious, and if I can find that feeling I know others can too.
How can our readers follow you on social media?
You can follow me on Instagram at instagram.com/renelacad or add me on LinkedIn linkedin.com/in/renelacad/
This was very inspiring. Thank you so much for joining us!