Episode 123
Have you ever wanted a micro masterclass on overcoming common struggles so that you can grow yourself and grow your business? You’re in luck!
Today we welcome Pat Mancuso, a highly recognized thought leader, entrepreneur, coach, and consultant. He has an ability that few possess, and that is to help business owners and leaders grow themselves and therefore grow their businesses.
As an entrepreneur himself, Pat has launched multiple businesses that have achieved high levels of success. Including a real estate brokerage firm that grew to over 800 agents and nearly one billion dollars in sales volume in less than four years.
As the CEO of Mancuso Consulting Group, Pat utilizes a proprietary system called RSTMM® which we’ll break down in this episode. RSTMM® is a highly effective tool to help organizations grow their leadership capabilities and performance by selecting the right people for the right seats and leading them to their highest potential.
Here are three reasons why you should listen to the complete episode:
- Gain insight into the proprietary system called RSTMM® that Pat utilizes to help business owners succeed.
- Get a micro masterclass on overcoming common struggles so that you can grow yourself and grow your business.
- Find out why accountability is so important to achieve your goals.
Episode Highlights
Who is Pat Mancuso
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- Pat Mancuso is a thought leader, entrepreneur, coach, speaker and consultant.
- CEO of the Mancuso Consulting Group.
- Licensed partner of RSTMM®.
- Host of The Success Ascent podcast.
His love for numbers
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- When Pat was in high school, he got excited about business.
- He then was fully immersed in a business program and recognized as business student of the year.
- He loved numbers and finance, going to college to become an accountant and start a CPA firm.
- However, he knew he didn’t want to become an accountant stuck behind a desk on a subconscious level.
How he got into the world of real estate
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- While doing an internship, they put him into a property management environment.
- The entrepreneur who led the company poured into him, and he became a certified property manager at the young age of 25.
- He did this for almost six years.
- The individual who sold him his first property told him that he could make a lot more money selling real estate and that he should consider it.
The start of his entrepreneurial journey
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- It took this individual two years to get Pat to join the business.
- Pat was newly married and had to consider no paycheck, no benefits, and no safety net.
- He ended up going for it, and this is where his real estate entrepreneurial journey started.
Burning the boats
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- In 1990, Pat got licensed with one of the largest independents in the country, becoming Rookie of the Year.
- To become successful in real estate, he knew he needed to burn the boats and go all in.
- Pat borrowed money from a family member, investing $18,000.
- He saw an opportunity, observed those who were successful, and saw that it was a mindset of treating it like a business.
- With the borrowed money, the business mindset, and going all in, he achieved a high level of success.
High level of success
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- As a successful salesperson, Pat moved into a leadership role, which set the foundation for him going forward.
- He was highly successful, staying with the company for 11 years.
- Pat saw a gap left in the leadership, leading him to look for another opportunity.
- Keller Williams came along to Minnesota, a much larger nationwide company with a lot to offer.
Opening up a brokerage firm
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- They made a very significant and risky move by opening up a brokerage firm that no one had ever done in the Twin Cities before.
- It would compete with two of the largest independents in the US that, at the time, controlled 75% of the market share.
- Everyone said it wouldn’t work, and they did everything they could to put them out of business, but they thrived.
- They grew in the first year from 11 agents to 80, opening up five additional franchises in total. They were nearly at a billion dollars in sales volume.
The key to success against market leaders
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- Pat had a chip on his shoulder because they said it couldn’t be done, and instead of taking the high road, they took the low road.
- This drove them to prove everyone wrong.
- Pat led seven partners, and failure was never an option.
- They also implemented systems that were taught to them by Keller Williams.
What is RSTMM®
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- RSTMM® stands for recruit, select, train, manage and motivate.
- Pat says he wouldn’t have been exposed to this model and system if he were not part of Keller Williams.
- Bayne Henyon created the model for consulting with small to medium-sized businesses and was hired when Keller Williams was hitting the ceiling.
- Being part of the Keller Williams International Master Faculty allowed Pat to teach the system for several years, freeing him to discover who he is.
- He had an opportunity to buy a license agreement for it, allowing him to make an impact by teaching entrepreneurs like you to grow yourself before being able to grow your business.
Common struggles entrepreneurs face
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- You’ve got to know who you are, and you can do this by getting a behavioral assessment; it’s freeing and can help you grow yourself and your business.
- Work on your mindset, limiting beliefs, and what’s holding you back.
- Get clarity on where you want to go, your goals, why, and purpose.
- Systemization is vital for the growth of your business.
Accountability
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- No human is perfect, but you need to commit 100%.
- If you don’t achieve your goal, celebrate what you have accomplished and assess how you can improve, learn, and grow.
- Have someone who is going to hold you accountable.
3 Powerful Quotes from this Episode
19:29 – “One of the most common things that happen when we meet with CEOs, and we validate their behavior is that they go whoa, now I understand why x, y, z; and it’s freeing.”
20:20 – “…If you tear down most people’s limiting beliefs, they go back to something probably early on in their life. And then every decision they make, every belief they have, is formulated around that. No one’s ever shown them how that’s impacting all of their decisions because most of that is subconscious.”
33:13 – “If CEOs, business leaders, and entrepreneurs master one thing of how to hire great talent, everything else will take care of itself.”
About Pat Mancuso
Pat understands what it takes to scale a business from the ground up while creating a solid foundation for future and ongoing growth.
He has consulted and coached some top entrepreneurs and business owners, facilitating over 30,000 coaching and consulting conversations where the goal is life and transformation. He recommends that you grow yourself so that you can grow your business.
Over the last 11 years, Pat has been a part of one of the most successful trainings and coaching events ever delivered. Worked with over 12,000 students in live classroom settings and a 41,000-person digital event. Pat has genuinely taken his ability to impact people’s lives and businesses to a whole new level.
Connect with Pat Mancuso
Pat Mancuso | Business Management Consultant
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Thanks for listening,
Darrell
