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In a candid interview on the Jeff Fenster Show, entrepreneur and real estate investor Kent Clothier shares his remarkable journey from making millions to facing financial ruin within two years.
His story is a powerful reminder of the importance of humility, resilience, and the willingness to learn from our mistakes.
Humility trumps pride
Clothier attributes his downfall to his pride and a lack of appreciation for what he didn’t know. He admits that he was too foolish to admit defeat and pursued litigation instead — a path that rarely leads to favorable outcomes. Reflecting on his experience, Kent says getting “knocked around” is necessary to achieve success.
One of the critical lessons Kent learned from his ordeal was the significance of humility, acknowledging that success often requires being humbled and learning from our failures.
The power of ‘reverse wholesaling’
Despite the setbacks, Clothier managed to rebuild his business from scratch using a concept called reverse wholesaling. He emphasizes the need to turn hustle into a well-structured business by developing systems and processes. This approach allows entrepreneurs to scale their operations and achieve sustainable success.
In the interview, Clothier shares valuable insights that can inspire and guide aspiring entrepreneurs. Here are a few quotes that encapsulate his wisdom:
- “You have to get knocked around a little bit to appreciate what it takes to be successful.”
- “The word ‘can’t’ is not in my vocabulary. I’m resourceful, and I’ll find a way to make it happen.”
- “Litigation is rarely the route to go. It’s not about winning or losing — it’s about finding a solution.”
Clothier also highlights the importance of core values in personal and professional life. His family’s core values revolve around four fundamental questions: why they do what they do, what they stand for, what they believe in passionately, and what they would be willing to die for. These values serve as a guiding compass for their actions and decisions.
Clothier’s journey from financial ruin to rebuilding his business is a powerful reminder of the importance of humility, resilience, and the willingness to learn from our mistakes. His story teaches us that success often requires getting knocked down and being resourceful in facing adversity. By embracing humility, developing systems, and focusing on opportunities, entrepreneurs can overcome challenges and achieve their goals.
About The Jeff Fenster Show
Serial entrepreneur Jeff Fenster embarks on an extraordinary journey every week, delving into the stories of exceptional individuals who have defied the norms and blazed their own trails to achieve extraordinary success.