#219: Travis Hornsby: Trust in your Biggest Investment – Yourself


OVERVIEW:

Jason A. Duprat, Entrepreneur, Healthcare Practitioner, and Host of the Healthcare Entrepreneur Academy podcast talks with Travis Hornsby, Founder of the Student Loan Planner, and Host of the Student Loan Planner podcast. Travis looks back on his journey as a bond trader-turned-business owner. He also offers advice on personal finance and scaling a sustainable business.

EPISODE HIGHLIGHTS:

  • Inspired by his grandfather, Travis became interested in finance, graduated with a degree in economics, and traded bonds for a few years.
  • Travis “got his feet wet” as a bond trader. His market included cities and municipalities – he gave money to cities and states for building projects.  
  • Travis launched Student Loan Planner in 2016 after helping his wife and friends figure out their six-figure loan debt. His business helps people with $20,000-$1 million in student debt by creating custom student loan plans and refinancing loans at a lower interest rate.
  • He scaled his business using the flywheel model. This model focuses on always pushing forward, putting in the repetition, and building momentum until you reach a breakthrough. 
  • Travis explains what a bond is and what trading mutual funds look like.
  • He also discusses why he invests in index funds and why he became a chartered financial analyst. 
  • When it comes to launching your business, start with low price points to build a reputation and then use your good ratings to justify market positioning and gradual rate increases.
  • Online content is an ideal way to attract customers and build profit. Creating and managing the content takes time so hire people and build a team. 
  • Travis and Jason compare the flywheel method versus the venture capital method. 
  • As an entrepreneur, set your goals based on lifestyle, impact, and profitability. 

3 KEY POINTS:

  1. Student Loan Planner aims to help people with 6-figure student loan debts get to a 6-figure net worth through investing. 
  2. Be the best in the world for solving a specific problem and then reinvest. 
  3. Don’t be afraid to take risks because there are strategies to mitigate the risks. Focus on your goals and on what you can control.

TWEETABLE QUOTES:

“Human capital is so much more valuable than you realize.” – Travis Hornsby

“If you’re the best, you have to be able to back it up with a great reputation.” – Travis Hornsby

“One of the benefits of entrepreneurship is that the upside potential is huge.” – Jason Duprat

RESOURCES:

Student Loan Planner website https://www.studentloanplanner.com/

Student Loan Planner podcast https://www.studentloanplanner.com/podcast/

Student Loan Planner course https://studentloanplannercourse.com/

The Flywheel Effect – Jim Collins – https://www.jimcollins.com/concepts/the-flywheel.html

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