E82 – John Matheson from Commercial Loan Success

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John Matheson is the CEO of Commercial Loan Success, a software and education platform that allows anybody who needs commercial financing to plug in their numbers and immediately find out if their聽transaction is lendable.

[2:39]聽What has been a big risk you have taken?
路聽聽聽聽聽 At 32 went off on his own
路聽聽聽聽聽 Started with $300 and started his own business
路聽聽聽聽聽 Took $100 and invested in real estate
路聽聽聽聽聽 Often other parties will come on board
路聽聽聽聽聽 In your personal checkbook you hate debt, but in business debt can be a good thing- leverage

[14:26]聽What is the most common mistake you see people make when starting a business?
路聽聽聽聽聽 Being underfunded is big- If you fail to plan you plan to fail

[15:22]聽Where did the idea of CLS come from?
路聽聽聽聽聽 As a real estate developer you鈥檙e always using debt
路聽聽聽聽聽 Banking process always seemed to be a mystery
路聽聽聽聽聽 There is always a knowledge gap- you never know what to expect
路聽聽聽聽聽 John met a partner who had a good understanding and the rest is history!

[20:52]聽What type of start-up do you typically help?
路聽聽聽聽聽 Any type of start-up that needs financing

[26:39]聽Do you have terms and conditions?
路聽聽聽聽聽 Typically, software in this space is expensive!
路聽聽聽聽聽 CLS wants to provide the software affordably, $149 per screener per year

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[27:21]聽Why do you think people struggle to achieve their dreams?
路聽聽聽聽聽 Dreams are goals, if you don鈥檛 get there you need to keep moving
路聽聽聽聽聽 If you stop you won鈥檛 get there

[28:18]聽Do you have any favorite books or podcasts?
路聽聽聽聽聽 Think and Grow Rich
路聽聽聽聽聽 Never Split the Difference

[30:0]聽Do you have a favorite quote?
路聽聽聽聽聽 When you reach the end of your rope, tie a knot and hang on!

[30:43]聽Any last advice?
路聽聽聽聽聽 Know before you apply

Link to a聽chapter in John鈥檚 Book

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