Jim Toner is a well-known and extremely successful real estate investor who often travels around the country giving lectures about real estate investing. People frequently pay thousands of dollars to listen to him speak. Jim has great advice when it comes to real estate investing, and has helped thousands of people to make money in the real estate industry.
In addition to giving lectures, Jim also does a lot of philanthropy work, is a radio show host, does consulting work, and also has his own limited private client group. Further, Jim is a part of a group of entrepreneurs known as the “Band of Rebels.” The Band of Rebels are so-named because the view themselves as being rebellious against the “system” which he believes creates unnecessary obstacles for entrepreneurial activity.
Jim takes a somewhat unorthodox approach to his work schedule because he has a found a formula that he believes works very well for him. This formula consists of waking up at 5:30, clearing his head for a half hour, then going to the gym, and only starting work at 9:00 am. Toner also listens to books or podcasts while he is working out. He also takes a 20 minute nap in the early afternoon. He believes that this routine helps to optimize his productivity. He also believes in an action oriented approach and believes too many people waste time thinking about ideas and not actually putting them into place.
In terms of trends, Toner is not big on following them. The reason is because he thinks they are temporary and fleeting and that it makes a lot more sense to focus on the fundamentals and the long-term picture. He also takes a philosophical approach to setbacks and struggles and says that trouble happens to everyone, even billionaires. He advises people to just keep calm and remember that tomorrow is a new day.
Another one of Toner’s philosophies is that money is not the be-all, end-all measure of self-worth. According to Toner, there are more important things to judge one’s self by. He believes that there is always more money that can be made and even if a person loses all his wealth, he can still hold his head high and just start fresh with rebuilding his or her wealth.
Books are something that Toner values very highly. In fact, he even says that reading is non-negotiable for aspiring entrepreneurs. According to Toner, reading allows you to learn from people who have already been there and done it, so you can save yourself a lot of time if you acquire the knowledge that they are willing to put forth. One lesson that Toner has learned from reading is that it is not necessary to be an expert. All that you have to do to become successful is surround yourself with people who are strong in the key areas where you are weak.
Despite Toner’s major entrepreneurial success, he went through a period of failure. At one point in his career, he lost his business and went from making $1 million a year to not having any income at all. Luckily, through persistence and instinct, he was able to create a brand new business from scratch. He uses this story to provide inspiration to new entrepreneurs and to demonstrate that reliance and persistence are key for success as he details in his recent Ideamensch interview.
One piece of advice that Toner frequently gives to entrepreneurs and shares in his books is to designate a small percentage of their earnings to give away to other people, either through charity, heavy tips at restaurants, gifts to homeless people, etc. He says that for some reason, being charitable will help you to attract money and that famous businessmen like The Rockefellers and Andrew Carnegie also believed in and use this idea regularly. Toner practices what he preaches and recently even donated a lot of time and money to help a business associate who lost everything in a fire.
In terms of software tools, Toner is a big fan of clickfunnels. He says that he has no idea how to use it, but that it has been very beneficial for his businesses. He advises aspiring entrepreneurs to look into this software in order to help grow their businesses. Toner also advises people to read the book, Man’s Search for Meaning, which was written by Holocaust survivor, Viktor Frankl. The reason is because he believes it inspires people to learn how to overcome obstacles and deal with challenges.
Toner also is a big fan of the Oscar Wilde Quote, “To live is the rarest thing in the world. Most people exist, that is all.” Toner likes this quote because it reminds people to seize the day and to make the most out of their lives, not to merely drift through life aimlessly. Jim Toner is an inspiration for entrepreneurs all around the world.