Liam Leonard calls today’s guest on The Prosperity Perspective the “unexpected subject matter expert in government contracting.” Michael LeJeune truly tried everything! Yet, he still knows what it’s like to be bankrupt and running low on hope. Michael LeJeune now has a business where he holds the roles of government contract expert, business coach, best selling author, and leading practical strategist.
How did he get there?
Accompany them in their conversation and learn how Michael learned that the typical 401K route isn’t the only one and wasn’t the best for him, why doing local drive-through research is essential before signing on a new property, and why the “small businesses, small communities” are where he prospers.
3 Key Takeaways:
How Michael created a system where the money they spend on marketing is $0 but they have more leads coming in that they know what to do with.
Why you should be extremely patient when you’ve decided to look for property ownership potentials.
Looking at your investment strategy as a means to live both in retirement and in the now!
[00:38] Michael introduces himself
Army vet to governmental job
Finding out he has a knack for business
Helping government contractors understand the market
[2:28] Where Michael puts his income after he’s secure and comfortable
Michael opens up about their first 5 year struggle
Failing miserably, going bankrupt, and changing his mindset to “How can I learn from this? How can I figure out how to overcome this?”-Michael LeJeune
Learning to be very self-sufficient
“The other thing that going through that really dark period taught me was how to be very self-sufficient and say, “Hey, I don’t need an assistant for this. I need a system.”-Michael LeJeune
Securing a steady stream of leads coming in that aren’t dependent on things like Google ads
[7:22] Building a way that of all the money coming in, they will take most of it in profit
Accelerating through the 401K process
Property investment as a favorite
[8:45] Rebounding from bankruptcy: how Michael learned to rebuild
“I tried everything!”
Holding a position where all the money came from sales, not credit cards or loans
Taking a dozen part time jobs while trying to rebuild his business
Doing a lot a free stuff
Figuring out how to do things for themselves without spending money
“We really came from that perspective of if we can’t do it, we’re gonna learn how to do it. And so we’re going to sit and watch some YouTube videos and figure it out.”-Michael LeJeune
Doing the model smarter: getting overhead without spending your money
[14:53] One of the early things that he tried and wouldn’t do again
Don’t think that the 401K plan is the only strategy
“I can still do this, but I still need to do something that creates freedom”-Michael LeJeune
“I think the biggest lesson there is taking a look at the investment strategy and saying ‘will this create what you want? Or will it develop something like the 401K where you’re going to have freedom 30 years from now, if you’re fortunate enough to live that long?’”-Michael LeJeune
Deciding to stop living for your retirement and start living for now
[18:30] How Michael got to his position in a small town with small businesses
Moving to his wife’s family town
Meeting a real estate attorney
Comparing small town property prices to other towns
[21:34] Taking his small town/entrepreneur strategy to other vacation business locations
Driving their chosen “corridor” and choosing their favorite communities
Finding a real estate agent in that area that works for them
Remaining extremely patient for the right thing
[26:45] Michael explains his “red flags” when looking for new investment properties
How much of the downtown area is vacant?
How much of the downtown is kept well/clean?
How good of shape is the courthouse there?
Are the people friendly?
“I’ll tell you: upkeep is one of the biggest things. If it doesn’t look clean and neat...fresh painted, that sort of thing...those are all red flags to me.”-Michael LeJeune
The “broken down gas station”
[29:15] What’s got Michael most excited right now
Investing in other companies
Seeing cool ideas from passionate people that can go somewhere
Sitting in on business boot camps for business pitches
About Michael LeJeune:
Michael LeJeune is a bestselling author and master coach with RSM Federal. Michael hosts the wildly popular GovCon podcast Game Changers for Government Contractors, manages the Federal Access Knowledge-Base, and specializes in helping government contractors brand themselves as Subject Matter experts in their niche.
Michael and his business partner Joshua Frank have helped their GovCon clients win over $2.8 billion in government contracts and more than 30+ billion in IDCs. Over 1,000 Government contractors trust the Federal Access Knowledge-Base as their primary source of GovCon education, training, coaching, and practical strategies for winning government contracts.
Connect with Michael LeJeune:
Company website: https://rsmfederal.com/
Our membership portal and coaching plans: https://federal-access.com/
Our Podcast: Game Changers for Government Contractors - https://soundcloud.com/gamechangersforgovernmentcontractors
Connect with The Prosperity Perspective Podcast: