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 transaction is lendable.
[2:39] What has been a big risk you have taken?
· At 32 went off on his own
· Started with $300 and started his own business
· Took $100 and invested in real estate
· Often other parties will come on board
· In your personal checkbook you hate debt, but in business debt can be a good thing- leverage
[14:26] What is the most common mistake you see people make when starting a business?
· Being underfunded is big- If you fail to plan you plan to fail
[15:22] Where did the idea of CLS come from?
· As a real estate developer you’re always using debt
· Banking process always seemed to be a mystery
· There is always a knowledge gap- you never know what to expect
· John met a partner who had a good understanding and the rest is history!
[20:52] What type of start-up do you typically help?
· Any type of start-up that needs financing
[26:39] Do you have terms and conditions?
· Typically, software in this space is expensive!
· CLS wants to provide the software affordably, $149 per screener per year
Value Link Round
[27:21] Why do you think people struggle to achieve their dreams?
· Dreams are goals, if you don’t get there you need to keep moving
· If you stop you won’t get there
[28:18] Do you have any favorite books or podcasts?
· Think and Grow Rich
· Never Split the Difference
[30:0] Do you have a favorite quote?
· When you reach the end of your rope, tie a knot and hang on!
[30:43] Any last advice?
· Know before you apply
Link to a chapter in John’s Book