Disrupt the Disruptors: Interview with Wade Shealy, Founder and CEO of THIRDHOME

I recently went one-on-one with Wade Shealy, founder and CEO of THIRDHOME.

Adam: Thanks again for taking the time to share your advice. First things first, though, I am sure readers would love to learn more about you. How did you get here? What experiences, failures, setbacks, or challenges have been most instrumental to your growth?

Wade: I began my entrepreneurial career straight out of college working 80-hour weeks selling bibles and educational books door-to-door for straight commission. I rose through the ranks to become an award-winning District Sales Manager. This easily prepared me for many years ahead of entrepreneurial leadership.

In 1984, I began working in resort real estate, co-founding The Pinnacle Group in 1986 and growing it into one of the largest and most successful real estate companies on Hilton Head Island and the state of South Carolina.

When I developed THIRDHOME, it consisted of my ability to convince a few friends and former clients to trust me on signing up on a new way to leverage second home ownership for tremendous travel

opportunities. It was not an easy concept to sell. I knew from the jump that trust would be a vital factor in making this company successful. I also recognized quickly that there was no way I could do this alone and that the people around me were going to be my greatest assets. I needed a team that could truly understand and carry out my vision.

Adam: How did you come up with your business idea? What advice do you have for others on how to come up with great ideas?

Wade: It’s not one particular story that led me to THIRDHOME. It’s the combination of hundreds of conversations with my real estate clients that all echoed the same theme. I started to notice that when they were thinking about making a second home purchase, no matter how excited they were when they first bought it, almost all would be back within 5 years wanting us to sell their vacation home. When asked why, the same answer always came up: “We love it here but feel like we have seen and done everything there is to do and want to try somewhere new.” It dawned on me, why should you have to sell your home to travel? Why not exchange with other like-minded individuals by creating a group of people who all want to do the same thing?

For anyone struggling to come up with a good idea, remember to be patient with yourself. You want your idea to involve change, risk-taking, and innovation. It all about being a visionary.

Adam: How did you know your business idea was worth pursuing? What advice do you have on how to best test a business idea?

Wade: Many vacation homeowners who had purchased in the late 80’s and early 2000’s found themselves unable to sell with the financial crisis of 2008. THIRDHOME gave them a way to create a different kind of value from their home: the ability to leverage it to travel the world.

In 2010, I decided it was time to lean into what the market was asking for and I created THIRDHOME. We have quickly grown The Club from our first member in early 2010, with a beautiful home on the Yellowstone River in Paradise Valley, Montana, to over 15,000+ members who have homes across 100-plus countries.

My piece of advice to best test your business idea is to just get started. However, make sure you first understand who you are targeting and why.

Adam: What are the key steps you have taken to grow your business? What advice do you have for others on how to take their businesses to the next level?

Wade: The key is hiring people with positive energy and a true desire to help people. Our corporate culture has evolved into one of satisfied team players who are dedicated to doing a great job, helping one another, and ultimately encouraging our members to fulfill their travel dreams. The energy and spirit of my team constantly reassure me of the dream I started 10 years ago.

To take your business to the next level, there are several key pieces of advice worth considering. Firstly, prioritize innovation and continuous improvement. Stay on top of industry trends, consumer preferences, and emerging technologies to adapt and evolve your idea. Secondly, invest in your team. Hire talented individuals who align with your company's values and vision, and foster a culture of collaboration, creativity, and growth. Lastly, listen to feedback, engage with your customers, and go above and beyond to exceed their expectations.

Adam: What are your best sales and marketing tips?

Wade: In the ever-evolving world of business, mastering effective sales and marketing strategies is essential for success. My first and foremost best piece of advice in doing so is knowing your audience, and tailoring your messaging accordingly. Another essential tip is to provide personalized experiences and exceptional customer service. It leaves a lasting impression on clients, converting them into loyal advocates.

Adam: In your experience, what are the defining qualities of an effective leader? How can leaders and aspiring leaders take their leadership skills to the next level?

Wade: An effective leader possesses a unique set of defining qualities that inspire and guide their team toward success. Firstly, you need strong communication skills to articulate your vision clearly, foster collaboration, and provide constructive feedback. Next, leaders need to exhibit empathy and demonstrate effective listening when it comes to their team. They need to encourage innovation and foster a culture that encourages continuous learning and growth. Moreover, a great leader empowers their team, and seeks continuous feedback, while learning from both failures and successes.

Adam: What is your best advice on building, leading, and managing teams?

Wade: My advice is that we all need mentors. I’ve had one since 1976 who has turned out to not only be my mentor, but my best friend and the person I lean on for advice. In turn, I hope I have become that for others along the way. Not only has this mentor shared his knowledge with me, but he has also spent time on multiple occasions discussing his career journey with my team at THIRDHOME and even attended a company retreat. I aspire to give to others as he has given to me. Time and knowledge are both valuable assets, and I truly appreciate the time he has given to me and THIRDHOME.”

When it comes to managing teams and being an effective leader, the key is to surround yourself with positive employees who believe in your vision and have a desire to help – not only the clients but each other. I truly feel this in turn, creates a strong company culture.

Adam: What are your three best tips applicable to entrepreneurs, executives, and civic leaders?

Wade: First off recognize you can’t do it alone. Seek out mentors and surround yourself with others who believe in your vision. Secondly, foster a culture of not only innovation but a culture built on trust. Lastly, practice empathy. This way you can understand your customers' needs better and connect with your teams on a deeper level,

Adam: What is the single best piece of advice you have ever received?

Wade: It’s not enough to disrupt an industry. You need to disrupt the disruptors by making your service the most trusted name out there.

Adam: Is there anything else you would like to share?

Wade: Our members constantly show that they are generous, and we recognize that a community banding together for a cause is a powerful thing. We are currently exploring options on how we can create (or partner with) a non-profit where our members who travel the world can participate in giving back to other communities, near and far.

For now, we’ve begun weaving initiatives like Gorilla Trekking into our THIRDHOME Adventures – An extension of THIRDHOME that offers small and organized luxury group tours. Conservation is a subject that is near to my heart, as I served on the State Board of Land Conservation in Georgia for half a decade. During that time, I was also appointed to Georgia’s Marshland and Wetlands Protection Committee and was voted the “Tree Friendly Developer” for the state of Georgia. It’s always rewarding when we can support and bring awareness to any kind of conservation effort through the small-group tours offered through our Adventures.

Adam Mendler is an entrepreneur, writer, speaker, educator, and nationally-recognized authority on leadership. Adam is the creator and host of the business and leadership podcast Thirty Minute Mentors, where he goes one on one with America's most successful people - Fortune 500 CEOs, founders of household name companies, Hall of Fame and Olympic gold medal-winning athletes, political and military leaders - for intimate half-hour conversations each week. A top leadership speaker, Adam draws upon his insights building and leading businesses and interviewing hundreds of America's top leaders as a top keynote speaker to businesses, universities, and non-profit organizations. Adam has written extensively on leadership and related topics, having authored over 70 articles published in major media outlets including Forbes, Inc. and HuffPost, and has conducted more than 500 one on one interviews with America’s top leaders through his collective media projects. Adam teaches graduate-level courses on leadership at UCLA and is an advisor to numerous companies and leaders. A Los Angeles native, Adam is a lifelong Angels fan and an avid backgammon player.

Follow Adam on Instagram and Twitter at @adammendler and on LinkedIn and listen and subscribe to Thirty Minute Mentors on your favorite podcasting app.