082: Aged 32 in 2019, started Dashdot with a few properties that led into losses but didn’t give up and now averages $120,000 a month in collected fees and projects to hit $1.5 Million by the end of 2020. Grew FTE from 2 to the current 6 (Goose McGrath)

Presented by Troy Trewin

Troy has worked intimately with 26 businesses in 20 years. He knows their numbers, understands their growing pains and people issues and has helped with most financial aspects, as well as having coached on leadership and management.

February 25, 2021

In this episode, I interview Goose McGrath, the CEO at dashdot Buyers Agents, a buyers agency service that specializes in sourcing investment and homeowner properties that are under market value, with net positive yields, strong capital growth prospects, and that have value add potential through various instruments including subdivisions and renovations. Their core mission is to help business owners build prolific, profitable property portfolios so they can buy back their time, build a legacy, and have more fun.

Dashdot helps investors build profitable portfolios using their proprietary Holy Trinity Formula – a renegade strategy that challenges deep-seated beliefs and practices in the highly conservative Australian market. Tapping into an untapped niche on the buyer’s side, Goose built a profitable business with relatively less competition. It took Goose some time to find real estate, however. Right from when he was young, he ran his own business organizing music festivals. 

When he started in real estate, he had barely any knowledge or experience in the field and made some pretty serious mistakes. Goose may have achieved his own success now, but it was the turning points in his crazy journey that have given him the biggest learning experiences in his career. He says the hardest thing in growing a small business is mindset and that the one thing he would tell himself on day one of starting out in business is, “Be patient. It’s a long game” Listen in and learn a ton about how to grow a small business.

This Cast Covers:

  • How he got his nickname “Goose” and why he uses it as his official name.
  • Helping people buy properties as opposed to being real estate agents.
  • The huge difference in the Australian real estate market where buyers’ agency services are concerned.
  • Leaving school early to start his own business and the valuable lessons he learned to become an expert in real estate.
  • Building the Holy Trinity Formula to help them find properties that were cash flow positive, high growth, and with value add potential.
  • Currently owning three properties and the financing challenges that they have to navigate.
  • Why it’s a big mistake to focus on specific geographies when looking for properties to invest in.
  • From a series of messy spreadsheets to using data science and machine learning to develop a systemized process.
  • Starting out with a few properties and limited cash, and working hard on marketing to grow to as much as $180,000 in collected fees in some months.
  • Surviving through a 96% reduction in revenue during the Covid-19 pandemic to achieve the current $120,000 a month in collected fees.
  • The misalignment in their perspective of success that taught them the most valuable lesson in business.
  • Growing their business despite their cost per acquisition ratio being the lowest it’s ever been.
  • Funding the business from sweat equity, revenue, and profit minus any investors or credit.
  • Growing by focusing their time and attention more on running the business than on raising funding.
  • Overcoming burnout to come out stronger and smarter.
  • Having the strength of mind to forge forward despite the constant fear of not achieving business goals.
  • Learning that working harder doesn’t necessarily result in better performance.
  • Why the habit of looking into your finances every week is important.
  • Building a sustainable and kickass culture through regular interaction and coaching for their fully remote team.
  • The Vision Catch Up: How Goose ensures that his team is constantly working towards the core vision and goals of the business.
  • Constantly analyzing the six key areas of life to maintain work-life balance.
  • Investing in both his professional and personal development.

Additional Resources:

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Quotes:

“The easiest way to make money in business is to work out where the demand is going and stand in front it and open your wallet” – Goose McGrath

“Digital marketing and Facebook is just one traffic source, ” – Goose McGrath

“Marketing is about connecting with your customers more deeply and in as many ways as you can” – Goose McGrath

“Focus your time and attention more on running your business than on raising funding” – Goose McGrath

“Busy doesn’t equal better” – Goose McGrath

“Form the habit of going through your finances every week” – Goose McGrath

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Music from https://filmmusic.io “Cold Funk” by Kevin MacLeod (https://incompetech.com). License: CC BY (http://creativecommons.org/licenses/by/4.0/

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