Aug 2, 2017
Crystal Boniello has a passion for running businesses on the side. She started flipping houses and made $80-$100K profit on each property. She then channeled those profits into launching 24-hour fitness centers making significantly higher profit. Crystal’s most recent position was as the Executive Assistant to the CEO and Manager of the Administration Staff. Her mother had always told her that she needed to have at least 4 different hustles going on so in case something falls apart, you will always have another income stream coming in. So, Crystal continued to work full-time as she began flipping houses and working on her fitness centers venture.
Show Notes
• Multitasking and other skills helpful for starting a business [1:45] • The conversation that lead her to find a business partner [5:18] • Finding the time to work on your business when you work a full-time job [6:35] • First steps to starting your own business [7:50] • How they found a location to open their first gym [9:45] • Why flipping houses was the first business venture she choose [12:12] • Outsource the bigger things and finding contractors you can trust [14:40] • What to look for when searching for a property to flip [18:40] • Placing a bid on a house [23:00] • Pay attention to the market, timing is the key [25:50] • How she overcame a downturn in the market [29:00] • Tips for managing a rental property [29:35] • Entering the fitness industry and opening a gym [35:00] • Why you shouldn’t wait until the doors open to start signing clients [39:50] • Devoting yourself to an idea and avoiding negativity [41:50] • The cost and profits in a gym business [47:10] • Plans to franchise her gym business [50:15]
Tips
• A woman makes a decision about a house within the first 15 seconds [3:00] • Align yourself with someone who has the same motivation as you [6:25] • Craigslist, Angie’s List, and Facebook are useful tools to find contractors [11:40] • Be willing to jump in and do some of the work – develop a skill set [17:20] • Don’t do trendy updates, stay with a classic look [22:25] • September - October is the best time to look for foreclosures [27:40] • If you’re serious about a product, people will take you and your business seriously [41:00] • Secure the place – don’t be afraid to commit and just do it [55:20]