Michael Morgan: Finding A Need & Building A Business To Fill It
Chatting With Champions Podcast Interview #69. Tyler Basu and Michael Morgan “Finding A Need & Building A Business To Fill It”
Michael Morgan has always had a fascination for finance, credit, and cars. After founding a very successful business focused on automotive transportation, he followed his passion by directly working in the automotive space for a major dealer group. After a successful career in the automotive space moving up to General Manager, he chose to leave the field to focus strictly on helping educate America on better credit practices.
Having all the knowledge of the automotive industry coupled with his understanding of what consumers struggle with during the credit process at a dealership, Michael co-founded Credit Forget It, an innovative credit platform that enables dealerships to help their clients reach higher levels of credit education and optimization. Today, Credit Forget It works with thousands of dealerships nationwide and has helped over 100,000 people optimize their credit while protecting their identity.
Visit Michael’s website: www.michaelemorgan.com
Topics discussed in this interview:
- How Michael got start in the automotive industry
- The process of starting and growing his first business
- Challenges faced as an entrepreneur and how he’s overcome them
- How a changing economy sparked a need for a new business
- Important lessons he has learned from his experiences
- Practical tips to help improve your personal credit score
- Michael’s definition of success
- Advice for aspiring entrepreneurs
- Really know what your strengths and weaknesses are. Cater towards your strengths. You can always outsource, for the most part, what your weaknesses are.
- You have to have an end goal in site, but you have to be a little bit flexible. Between A and B, even with the best laid out business plan, there has to be some flexibility. It’s not always a straight line.
- You have to accept what your shortcomings are. There are always ways to cope for them and move forward.
- As long as you can take away one good idea from any of the books that you read, it’s a worthwhile venture.
- There is no day like today. Take action. You’re going to make some mistakes along the way, but you can fix those mistakes. The biggest regret you’ll ever have is when you sit around and think I could have, I should have…
- Most of the time you’re not upset about the time when you actually took a chance and fell down – you get back up and you learn a lesson from it.
- Sometimes you have to start small. It’s not always pretty in the beginning. You have to put in a lot of hours, a lot of hard work, and overcome a lot of people saying negative things because they’re not willing to put in the work.
- You really have to keep your end goal in site, and be willing to work hard for it.