October 24, 2017
Episode #20 – Frank Fallico – Research, trust, and family values
“The more you practice being happy, the happier you will be.”
If there is one thing that is obvious about Frank Fallico, it’s that he is a very happy person.
Born and raised in Toronto to Italian immigrants, Frank still lives and works in Toronto as a realtor, real estate investor and part time musician.
Beginning with his own company in the music world in high school, through a career in retail sales, right up to his real estate work today, Frank brings a unique human approach to everything he does.
His “integrity approach to selling” focuses on the human needs of the customer as opposed to the dollar value of the sale.
For the last ten years, this happily married father of two has built a thriving real estate investment portfolio, thanks in large part to his devotion to research and his natural trust in his decision-making process.
Enjoy this engaging conversation between Frank and REIN CEO, Patrick Francey. You will discover some unique perspectives on the true drivers of success: family, humanity and trust.
Selected Links and People Mentioned from this episode:
- 0:00 – A welcome and introduction from Patrick
- 5:48 – This will be a conversation not an interview
- 7:10 – Frank reveals his “elevator pitch” – matching opportunities with people
- 8:15 – Frank talks about his upbringing in the Italian culture in Toronto in the 60’s and 70’s
- 9:04 – The sacrifices of his parents help mould Frank’s outlook on life and business
- 10:55 – The Fallico family had few luxuries, but lots of love and moral direction
- 11:30 – The moral direction Frank learned from his father keyed his future in business and life
- 14:00 – Frank learns to deal with prejudice
- 14:38 – It was not until he went to school did Frank learn about Canadian culture
- 15:55 – A story his father told him when he was a teenager is the Rosetta stone for all of Frank’s business dealings
- 17:50 – “Dad taught me to learn to take chances…”
- 18:10 – Frank reminds us that you should never listen when someone tells you “it can’t be done…”
- 19:25 – Frank begins his music career with a demo tape and a ride to New York
- 20:02 – His music business hits the big time, with international sales and a nomination for a national award
- 21:40 – Frank’s first taste as an entrepreneur teaches him to “shoot for the sky”
- 22:07 – There was no internet or Google, so Frank had to do the research he needed to succeed the old- fashioned way: reading books and talking with people
- 22:50 – Frank transitions from the music business into the retail world with Home Depot
- 24:45 – Frank never really left the music world – he still writes music today – but he was dissatisfied with how the music world left him feeling empty
- 26:35 – Frank and his girlfriend (later his wife) talk about what the future holds for them
- 26:55 – Frank learns a valuable lesson from chess: how to plan farther ahead
- 27:58 – You need to look 3, 5 and 8 years ahead in your planning
- 28:54 – Frank has a “summer of soul searching”
- 31:50 – Frank learns another valuable lesson: the items you sell are things your customers love
- 33:45 – A “Statement of Character”: The music industry asks you to sell your soul just to close the deal, and Frank could not take that any more — do not sacrifice yourself when you chase success
- 37:00 – Another chat with his girlfriend and Frank states, “I am not a salesman!”
- 38:20 – Time to leave Home Depot and focus on another passion: fitness
- 40:05 – Frank decides to change how sales work in the corporate environment
- 40:35 – Discovery of “Integrity Selling”
- 43:00 – Frank takes a dramatic step to change his world
- 44:45 – Recruiting like-minded people is crucial to success
- 47:25 – Transparency is the key to selling anything – Leave behind the “BS” selling
- 49:25 – Frank says you must also be transparent with your suppliers
- 53:05 – Eight years – 2000 to 2008 – of growth in the retail fitness world
- 53:30 – After selling his business, it’s time to reflect on where Frank is in his life
- 54:18 – Frank’s passion for home ownership drives his next life phase – He takes many courses and meets Richard Dolan
- 55:25 – Frank learns that you must surround yourself with people better than yourself
- 56:18 – Ask yourself this: How are you using this home to build a better life?
- 57:30 – “I am not a realtor – I’m trying to elevate the conversation about real estate…”
- 58:25 – “What defines success? Success is a moving target”
- 59:57 – “How do you find happiness? I hit the mind-recalibration button. I find happiness in the simple things. I practice being happy.”
- 66:40 – Frank is a collector of good ideas – he reads as much as he works out in the gym
- 68:00 – What are the common threads that block success for real estate investors
- 69:50 – “Trust your plan”
- 72:15 – Frank’s biggest failure was a blessing in disguise
- 79:30 – What would Frank say to his 20-year-old self?
- 80:40 – “The biggest challenge most people have is to implement the things they already know!”
- 81:10 – What will Frank say to his 70-year-old self?
- 82:10 – Frank faces Patrick’s famous “rapid-fire questions”