Latest / InvestBetter.™ Podcast / Making better investment decisions: The power of a process

Transcript

Making better investment decisions: The power of a process · InvestBetter.™ Podcast

• 0:00
  SPEAKER_01: If you're an American entrepreneur, it is the most fun time to be alive.
• 0:03
  SPEAKER_02: What has been your experience with the traditional financial world?
• 0:06
  SPEAKER_02: So we've invested in businesses.
• 0:08
  SPEAKER_02: So now I have nine companies.
• 0:10
  SPEAKER_02: So when I meet with a client now and I'm like, okay, what do you want to do?
• 0:12
  SPEAKER_02: Okay, you want to buy real estate.
• 0:13
  SPEAKER_02: Okay, I'm gonna help you do it really well.
• 0:15
  SPEAKER_02: You wanna start two businesses?
• 0:16
  SPEAKER_02: Okay, let's talk about it and let's do it really well.
• 0:18
  SPEAKER_02: Versus youngsten was like, hey, by the way, I need you to buy this mutual fund before you leave my office, or I don't make money.
• 0:23
  SPEAKER_01: If I'm talking to another advisor right now, what I'd say is like, walk a mile in my shoes.
• 0:27
  SPEAKER_01: I want you to understand my portfolio and my strategy.
• 0:30
  SPEAKER_01: I want to be free to invest in the things I want to invest in.
• 0:32
  SPEAKER_01: If you can create a risk profile for all the things I'm doing, not just your part, sure, then that's goal.
• 0:39
  SPEAKER_01: The whole idea is if you know who you're talking to, speak their language.
• 0:44
  SPEAKER_01: Every one of us has like a wall up with other people.
• 0:48
  SPEAKER_01: But we lower the wall if we like them.
• 0:50
  SPEAKER_01: How do you lower other people's walls?
• 0:52
  SPEAKER_01: Well, there's four things that have to happen.
• 0:54
  SPEAKER_02: There's so when you look back at your story early on, was there this I have to prove people, prove to people that I have it, I'm gonna build businesses to make money, and then you broke out of that, or from an early age where you're like, No, at 21, I had a I had a uh I learned apprenticeship really early.
• 1:21
  SPEAKER_01: I had a professor, his name was John Cragan, and John was like, Jeremy, you're an entrepreneur.
• 1:26
  SPEAKER_01: He caught me in uh school in this small little liberal arts school.
• 1:30
  SPEAKER_01: And um, I basically uh learned from there how to use business as a platform for impact.
• 1:37
  SPEAKER_01: How do you how would you do you how do you make money and do good at the same time, right?
• 1:42
  SPEAKER_01: So we moved to Moscow because that's what you do.
• 1:45
  SPEAKER_01: That's what you do.
• 1:46
  SPEAKER_01: So but the uh no, the Soviet Union was falling apart.
• 1:49
  SPEAKER_01: This is the late the early 90s, and so um we were like one of the first groups in.
• 1:54
  SPEAKER_01: And so was it business friendly at this point?
• 1:57
  SPEAKER_01: Was it like should we go?
• 1:58
  SPEAKER_01: No, I mean it was it's it was sketchy.
• 2:00
  SPEAKER_01: Yeah, it was like uh Chicago in the 30s.
• 2:03
  SPEAKER_01: Wow.
• 2:03
  SPEAKER_01: So we had uh car bombs around us.
• 2:06
  SPEAKER_01: We lived with Bob and Mafia group.
• 2:07
  SPEAKER_01: Uh, we had some great partners that we went with, and then we started a uh Moscow Economic School, which is the largest private school in Russia still today.
• 2:16
  SPEAKER_01: And then we helped shape it and form it, and we brought teachers over.
• 2:19
  SPEAKER_01: So we had some great teachers that were there, and then we had this business team.
• 2:22
  SPEAKER_01: We built a marketing company and an accounting training business and all these different opportunities.
• 2:27
  SPEAKER_01: But it was uh had a client assassinated, we were in a coup attempt, uh, 150 people killed in our three block radius.
• 2:34
  SPEAKER_01: Wow.
• 2:34
  SPEAKER_01: Um, I mean, it was chaos.
• 2:36
  SPEAKER_01: That was my first book uh Making Your Leadership Come Alive, and it was uh all about Russia, mafia.
• 2:43
  SPEAKER_01: Uh, you know, so at an early age, yeah, like I went from Oklahoma to that.
• 2:49
  SPEAKER_01: Yes, and you were in your early 20s.
• 2:51
  SPEAKER_01: Yeah, I was 21.
• 2:52
  SPEAKER_01: Jeez.
• 2:52
  SPEAKER_01: And I lived there for a few years, and and uh it it shaped me probably more than anything.
• 2:57
  SPEAKER_02: Um what was the trigger to come back?
• 3:00
  SPEAKER_02: Like I've the Lord's kind of given me what I need in this season, it's time to go home.
• 3:03
  SPEAKER_01: Uh no, the uh I was getting married to my my wife, my bride.
• 3:08
  SPEAKER_01: Uh that was one, but we were gonna live in Russia, and then the Oklahoma City bombing happened.
• 3:12
  SPEAKER_01: And my father-in-law was in the Oklahoma City bombing.
• 3:14
  SPEAKER_01: In fact, I I was in a taxi cab and I'm uh on the radio in Russian that said the city of Oklahoma's blown up.
• 3:22
  SPEAKER_01: I'm like, well, my fiance's there.
• 3:23
  SPEAKER_01: Yeah.
• 3:24
  SPEAKER_01: Go, go, go, go, go.
• 3:25
  SPEAKER_01: I get to our house, I run upstairs, I turn CNN on, and I see as soon as I turn it on, my future father-in-law is walking down the ladder.
• 3:34
  SPEAKER_01: He's the third guy out, second guy out of the bombing of the Murray building.
• 3:39
  SPEAKER_01: Only a few survived, and he was one of them.
• 3:41
  SPEAKER_01: And he had heard a voice that said, Get under your desk.
• 3:44
  SPEAKER_01: Well, he was on a phone call.
• 3:46
  SPEAKER_01: He heard a voice go, get under your desk.
• 3:48
  SPEAKER_01: There was no one in the room.
• 3:49
  SPEAKER_01: He gets under the desk, it blows up, he gets up, and there's a foot around his desk, and the entire thing was cratered.
• 3:58
  SPEAKER_01: So that's that was a major reason to come back from just the family dynamic and all of that.
• 4:05
  SPEAKER_02: Yeah.
• 4:06
  SPEAKER_02: When who taught you how to make investment choices?
• 4:10
  SPEAKER_02: So part of what we do is challenge people that investing is not just about mutual funds, stocks, bonds, insurance, it's starting companies, it's investing in other people, investing heavily in yourself.
• 4:20
  SPEAKER_02: Did you start that way, or was there ever an influence from the industry of like Jeremy?
• 4:24
  SPEAKER_02: Here's the path you need to follow, and you had to reject it.
• 4:27
  SPEAKER_01: So I honestly, I'm an only child.
• 4:29
  SPEAKER_01: I'm a farm boy from Oklahoma.
• 4:31
  SPEAKER_01: We have a thousand acres, uh, it's a 106-year-old farm.
• 4:34
  SPEAKER_01: Uh, I'm the third, fourth generation.
• 4:38
  SPEAKER_03: Oh well.
• 4:38
  SPEAKER_01: Um, and so you've got that dynamic.
• 4:42
  SPEAKER_01: My mom had two flower shops, we had rent houses, and I was an only child.
• 4:45
  SPEAKER_01: You got it.
• 4:46
  SPEAKER_01: So my mom would give me incentives to sell.
• 4:49
  SPEAKER_01: Um uh if I had X dollars to pour into Mother's Day, how would I uh do marketing for flowers, right?
• 4:58
  SPEAKER_01: For Mother's Day.
• 4:59
  SPEAKER_01: Uh, my dad would constantly walk me through and go, okay, we're going to uh we're going to uh sow this field into wheat where we've got to put our inputs.
• 5:09
  SPEAKER_01: So understanding investment, I understood it very early on.
• 5:13
  SPEAKER_01: I plant something, I uh we have to uh uh fertilize it, we have to irrigate it.
• 5:19
  SPEAKER_01: Yeah, um, what's the total cost?
• 5:21
  SPEAKER_01: And I was always fascinated with like, okay, okay, what how much did this cost?
• 5:25
  SPEAKER_01: Where are we at?
• 5:26
  SPEAKER_01: What do we hope we get?
• 5:27
  SPEAKER_01: Nice.
• 5:28
  SPEAKER_01: Our yield will be X.
• 5:29
  SPEAKER_01: Yep.
• 5:30
  SPEAKER_01: And so we still farm together, my dad and I.
• 5:33
  SPEAKER_01: And um, this is our last year actually.
• 5:35
  SPEAKER_01: He's retiring.
• 5:36
  SPEAKER_00: Oh, wow.
• 5:36
  SPEAKER_01: And so it's our last year of us farming it as a family.
• 5:39
  SPEAKER_01: But we've always had this farm.
• 5:41
  SPEAKER_01: So it's always what are your inputs?
• 5:43
  SPEAKER_01: Yeah, what are your costs?
• 5:45
  SPEAKER_01: Yeah, um, you know, what's the return on on investment?
• 5:48
  SPEAKER_01: Yeah.
• 5:48
  SPEAKER_01: I've grown up in that.
• 5:50
  SPEAKER_01: I live in return on marketing investment, return on investment.
• 5:53
  SPEAKER_01: Yes.
• 5:54
  SPEAKER_01: So R O M I is something I'm thinking of constantly.
• 5:56
  SPEAKER_01: Okay, but it's it's like in anything.
• 5:59
  SPEAKER_01: So it's the mindset of if I sew it, what's the cost to get it to the point of yield?
• 6:07
  SPEAKER_01: Yeah, and what's my return on that yield, and was that worth it?
• 6:10
  SPEAKER_01: And so investment, uh, to me, that is in what investment looks like from the very beginning.
• 6:17
  SPEAKER_02: Got it.
• 6:18
  SPEAKER_02: The idea of asymmetric risk is really interesting.
• 6:20
  SPEAKER_02: The idea I think most people are like, hey, I'm gonna try this thing, I hope it works out.
• 6:24
  SPEAKER_02: Um farming is at times a risky endeavor.
• 6:29
  SPEAKER_02: Oh, it's a horrible business.
• 6:30
  SPEAKER_02: Yeah.
• 6:30
  SPEAKER_02: Um the factors are.
• 6:33
  SPEAKER_02: Yeah.
• 6:34
  SPEAKER_02: When did you start getting to like I'm I'm not just brave and gonna try things and hope it works out, but where like some process or strategy started coming into where you're like, I know if I do it this way, the probability of a better outcome is much higher.
• 6:47
  SPEAKER_01: Yeah.
• 6:48
  SPEAKER_01: All right.
• 6:48
  SPEAKER_01: So it's actually interesting because it when when I moved back to Russia, I ended up working for this family.
• 6:53
  SPEAKER_01: It's a really great family, but it was in the African American hair care business.
• 6:57
  SPEAKER_01: Okay.
• 6:57
  SPEAKER_01: All right.
• 6:58
  SPEAKER_01: And so I'm like, obviously.
• 6:59
  SPEAKER_01: Yeah.
• 7:00
  SPEAKER_01: Uh and so I became vice president of marketing for this company, and I was in charge of growing the business.
• 7:06
  SPEAKER_01: And and um, so super fun.
• 7:09
  SPEAKER_01: I was so I was a marketing background, super fun to be in that and try things.
• 7:14
  SPEAKER_01: And we got into dot-coms, then they sold the business.
• 7:17
  SPEAKER_01: And it was when they were selling the business, there was another guy for that I started working with, and then I got promoted up into the private equity group, and um, I was asked to help um build all of our dot-coms.
• 7:29
  SPEAKER_01: I was asked to help uh scale the the business and then eventually become COO of that company.
• 7:34
  SPEAKER_01: And we we did a roll up and we got to about 500 million in a roll-up of 17 companies.
• 7:40
  SPEAKER_01: Um, but in that process, I had the aha of um all money's not equal.
• 7:46
  SPEAKER_01: And I started to ponder and play with that for a while, meaning, how did we get the money to invest?
• 7:53
  SPEAKER_01: So uh to the farm, bank money is different than uncle money because there's different strings attached.
• 8:02
  SPEAKER_01: Sure.
• 8:02
  SPEAKER_01: And there's certain expectations attached.
• 8:05
  SPEAKER_01: So to me, uh investments are managing expectations.
• 8:09
  SPEAKER_01: Yeah.
• 8:09
  SPEAKER_01: To go, okay, what is it I'm trying to accomplish?
• 8:12
  SPEAKER_01: What do I hope uh we earn?
• 8:15
  SPEAKER_01: Yeah.
• 8:15
  SPEAKER_01: Uh do is it my money?
• 8:17
  SPEAKER_01: Am I borrowing the money?
• 8:18
  SPEAKER_01: How am I, what's my leverage?
• 8:20
  SPEAKER_01: Yeah.
• 8:21
  SPEAKER_01: And then what are all the strings attached?
• 8:23
  SPEAKER_03: Got it.
• 8:24
  SPEAKER_01: And that's why it's made so a lot of decisions now that I'm not involved with certain things because I don't want those strings attached.
• 8:31
  SPEAKER_01: Got it.
• 8:32
  SPEAKER_01: I want to basically I want to be free to invest in the things I want to invest in.
• 8:35
  SPEAKER_01: Got it.
• 8:36
  SPEAKER_02: Early on, though, you didn't have that luxury.
• 8:38
  SPEAKER_02: There were times where you're like, no, yeah, we I gotta just kind of deal with the process as it is.
• 8:43
  SPEAKER_01: Private equity.
• 8:44
  SPEAKER_01: We started with private equity and there's tons of strings.
• 8:46
  SPEAKER_01: Yeah.
• 8:47
  SPEAKER_01: And then when you see it and you're like, oh man, I don't want to do that.
• 8:51
  SPEAKER_01: Now, nothing against private.
• 8:52
  SPEAKER_01: There's some great private equity groups out there.
• 8:54
  SPEAKER_01: And private equity is really helpful for a lot of friends too.
• 8:58
  SPEAKER_01: If you but you have to go in with proper expectations, yeah.
• 9:01
  SPEAKER_01: And I think a lot of people don't.
• 9:03
  SPEAKER_01: So for me, uh, I started my own business uh with Giant.
• 9:07
  SPEAKER_01: Well, I had I had done well in my 20s, I had saved money, I had had some wins, some losses, and then uh with saved money uh for Giant.
• 9:17
  SPEAKER_01: So we we were ready to go.
• 9:19
  SPEAKER_01: Hit by a drunk driver in Mexico, near death experience, lost my life, was gone for four and a half, five minutes.
• 9:25
  SPEAKER_01: That reshapes everything.
• 9:28
  SPEAKER_01: Um it changed the way I viewed the future for sure.
• 9:32
  SPEAKER_01: And then we were out of network.
• 9:34
  SPEAKER_01: We were I'd quit my job, so we were a cobra out of network.
• 9:39
  SPEAKER_01: Good.
• 9:39
  SPEAKER_01: I had to pay uh all the m a lot of the money we had saved to start this company, went to uh fund a hospital wing in Cancun.
• 9:48
  SPEAKER_01: No way.
• 9:49
  SPEAKER_01: That's right.
• 9:50
  SPEAKER_01: I should have my name on that wing.
• 9:52
  SPEAKER_01: And so uh anyway, so literally we started with almost nothing.
• 9:57
  SPEAKER_01: So we and so to start from nothing, um, and we were 32 years old or whatever to start giant and um start with one client, start with another, start with another.
• 10:08
  SPEAKER_01: And then we started figuring out ways to uh leverage success with clients, uh getting equity in companies and doing some growth consulting and a few points here, and then we got some wins, and then that started to build, and that got us enough where we could have enough uh leverage to go acquire John Maxwell's assets, and then we put together an investor group and we had built a pass the hat fund with a bunch of um friends and family that just says, Hey, we're gonna have opportunities.
• 10:37
  SPEAKER_01: Do you want to play?
• 10:38
  SPEAKER_01: And so by doing that, that helped because when the opportunity came, we did pass the hat, we got enough.
• 10:43
  SPEAKER_02: And people had watched you they've seen us go.
• 10:46
  SPEAKER_02: Yeah, it wasn't a hey, let's hope this works out.
• 10:49
  SPEAKER_01: That's right.
• 10:49
  SPEAKER_01: Gotcha.
• 10:49
  SPEAKER_01: And then we go and buy John Maxwell out of the blue from some Oklahoma companies buying uh Maxwell, and then that put us from five states into 70 countries.
• 10:59
  SPEAKER_01: Wow, and then we built um, so then I just basically took it all apart and it was enjoy, maximum impact, all these things, and took it apart and found catalyst and built the catalyst brand, and then found leader cast and well built leader cast and then uh sold Maxwell, brought in Henry Cloud, other thought leaders, and started to scale um that way.
• 11:21
  SPEAKER_01: So um anyway, so but it it all is investment.
• 11:25
  SPEAKER_01: It's like you're you're you're finding investors or invest month to go after a strategy and have a great plan and hope you hit it.
• 11:35
  SPEAKER_01: Yeah, and I'd say we were hoping for a grand slam, we probably got a double on that deal.
• 11:40
  SPEAKER_01: Um, but you know, a double was better than nothing.
• 11:44
  SPEAKER_02: Yeah.
• 11:44
  SPEAKER_02: So how did you you lived in Russia, you were learning all this stuff, had some wins, and then a life event emotionally, what was that like when it felt like did my 20s even matter financially?
• 11:57
  SPEAKER_02: My savings are gone, we're starting over.
• 11:58
  SPEAKER_02: What was that like?
• 12:00
  SPEAKER_02: Or did that did your mind go that way, or was it like, let's just keep swinging?
• 12:03
  SPEAKER_01: No, I I don't think I don't think I think that way.
• 12:05
  SPEAKER_01: And it might be the farmer in me.
• 12:08
  SPEAKER_01: Sure.
• 12:08
  SPEAKER_01: Because every year you're like, all right, here we go.
• 12:11
  SPEAKER_01: Yeah, we got it in.
• 12:12
  SPEAKER_01: It's going back.
• 12:14
  SPEAKER_01: Got it.
• 12:14
  SPEAKER_01: Yeah.
• 12:14
  SPEAKER_01: So you're always inputting.
• 12:16
  SPEAKER_01: Yeah.
• 12:16
  SPEAKER_01: And I think that's I think that's the thing for for my view, successful entrepreneurs, they're always inputting.
• 12:23
  SPEAKER_01: You gotta put it in.
• 12:24
  SPEAKER_01: You gotta put the seed capital, you gotta put the money to invest to get that crop up.
• 12:31
  SPEAKER_01: Yeah, and then you have to have the equipment, you have to do all those things, right?
• 12:34
  SPEAKER_01: And then you find one year, oh my gosh, a bumper crop.
• 12:38
  SPEAKER_01: Yep, this is amazing.
• 12:39
  SPEAKER_01: And then some businesses, they they really take and they really, really work.
• 12:44
  SPEAKER_01: For me, though, uh, what it did do is it shifted me to diversified revenue.
• 12:50
  SPEAKER_01: And that's where I'm at now.
• 12:51
  SPEAKER_01: I diversify my not just diversify investment, sure, but diversify my revenue so all my eggs aren't in one basket.
• 12:57
  SPEAKER_00: Got it.
• 12:58
  SPEAKER_01: And so for me, I figured out that that's the best way for for me to live.
• 13:02
  SPEAKER_01: Okay.
• 13:02
  SPEAKER_02: So you were de-risking overall, yet you're still living in a pretty risky space, entrepreneurship, authorship, content creation, marketing.
• 13:10
  SPEAKER_02: But is it primarily because you have a family that you're like, I I can't be as risky in this season of my life, so I have to kind of have a foundation before I keep doing my thing.
• 13:20
  SPEAKER_02: What was the I don't think that way.
• 13:22
  SPEAKER_02: I don't know.
• 13:23
  SPEAKER_02: How did your wife think that way?
• 13:24
  SPEAKER_02: She risked her too.
• 13:25
  SPEAKER_01: My yeah, I'd tell you, my wife, Kelly.
• 13:27
  SPEAKER_01: Um, one of the gifts um of my life, the biggest gift was Kelly.
• 13:32
  SPEAKER_01: She has a um, I trust you.
• 13:34
  SPEAKER_03: Nice.
• 13:35
  SPEAKER_01: Uh, I'm not worried.
• 13:36
  SPEAKER_01: She's never ever been afraid of uh money and or lack of money.
• 13:43
  SPEAKER_01: So let me give you an example.
• 13:44
  SPEAKER_01: I told you we we literally were I'm on the surge.
• 13:48
  SPEAKER_01: I'm about to go back for surgery in Mexico.
• 13:51
  SPEAKER_01: Uh I had severed intestines, I had, I'm gonna, I was I was paralyzed and waist down.
• 13:56
  SPEAKER_01: There's a lot of things.
• 13:57
  SPEAKER_01: It's another time for another story.
• 13:59
  SPEAKER_01: But she um had total trust, total belief and faith.
• 14:03
  SPEAKER_01: So we they said we need to pay before the surgery.
• 14:07
  SPEAKER_01: Well, she uh she looks at me.
• 14:09
  SPEAKER_01: I remember her telling me, and I'm like, well, yeah, let's go, yeah.
• 14:12
  SPEAKER_01: And she's like, okay.
• 14:13
  SPEAKER_01: So she literally pays.
• 14:14
  SPEAKER_01: Well, we didn't know it was literally almost the exact dollar amount we had saved.
• 14:20
  SPEAKER_01: All gone.
• 14:21
  SPEAKER_02: Wow.
• 14:21
  SPEAKER_01: We get home, nobody knew that we had like just a checking account.
• 14:25
  SPEAKER_01: All of our savings were gone.
• 14:27
  SPEAKER_01: So the checking account was like we had one month, maybe.
• 14:29
  SPEAKER_01: Wow, uh, at that age of our with three kids.
• 14:33
  SPEAKER_01: And and so um we, you know, a bill, bill, bill, and I'm laying on the couch, and my little daughter comes and brings the mail, and it was bill, bill, bill.
• 14:41
  SPEAKER_01: And I had so much faith and trust because of what God had done in that accident.
• 14:46
  SPEAKER_01: Yeah, and that there was a number of things that just restored, like, I'm gonna believe, I'm gonna choose to have faith.
• 14:53
  SPEAKER_01: So I then open up and you can see there's a check.
• 14:55
  SPEAKER_01: You can tell a check, right?
• 14:57
  SPEAKER_01: And so I look and there's a check, and then I'm like, I'm not expecting a check.
• 14:59
  SPEAKER_01: Yeah, and I open it up and it's our first client, and he had sent it before we even left, but we didn't get it.
• 15:05
  SPEAKER_01: And said, I hope it's okay for tax reasons.
• 15:07
  SPEAKER_01: I need to pay you six months in advance.
• 15:10
  SPEAKER_01: Yes, it was the exact same dollar amount.
• 15:12
  SPEAKER_01: That's it was the we were just like, What?
• 15:15
  SPEAKER_01: Wow.
• 15:16
  SPEAKER_01: So we started giant with nothing, and then our first client pre-paying, which is prepaying usual, yeah.
• 15:24
  SPEAKER_01: And then we killed it with that client.
• 15:26
  SPEAKER_01: We helped them gross, and then we we got uh upside and equity and all types of opportunities, and that benefited them, benefited us.
• 15:34
  SPEAKER_01: Wow.
• 15:35
  SPEAKER_02: So anyway, yeah.
• 16:36
  SPEAKER_02: What has been your experience with the traditional financial world?
• 16:39
  SPEAKER_02: So I've I've been in 18 years.
• 16:41
  SPEAKER_02: I would probably say for the first eight, I was fully bought in, you know.
• 16:44
  SPEAKER_02: I I'm either a financial advisor that sells people life insurance, or I'm an advisor that sells mutual funds and stocks.
• 16:50
  SPEAKER_02: And the solution to all your problems is probably one of these things.
• 16:53
  SPEAKER_02: Yeah.
• 16:53
  SPEAKER_02: Hey, good news is I I can sell you this thing.
• 16:55
  SPEAKER_02: Yeah.
• 16:55
  SPEAKER_02: And then after meeting with entrepreneurs, real estate investors, something the most successful people I'm meeting have some of this, yeah, but it's not all of it.
• 17:03
  SPEAKER_02: Did have you come in contact with the traditional financial advice business?
• 17:08
  SPEAKER_02: And what's that been like?
• 17:08
  SPEAKER_01: Yeah, yeah.
• 17:09
  SPEAKER_01: It's exactly that.
• 17:10
  SPEAKER_01: It's that feeling of like, here's the feeling that most people, and especially I'd say in the last 30 years, it's I should be doing X, Y, and Z.
• 17:22
  SPEAKER_01: Because every commercial is, hey, well, do you do you know what's gonna happen to you after you retire?
• 17:27
  SPEAKER_01: Do you have enough to run?
• 17:28
  SPEAKER_01: You know, and everything is like I should.
• 17:29
  SPEAKER_01: Now compounding interest is awesome.
• 17:32
  SPEAKER_01: That's real.
• 17:32
  SPEAKER_01: Yeah, that's real, and it's great.
• 17:35
  SPEAKER_01: But compounding interest in the traditional service provider and and investment uh manager, those don't often go together.
• 17:45
  SPEAKER_01: Sure.
• 17:45
  SPEAKER_01: Uh, in my in my view.
• 17:47
  SPEAKER_01: So what I've chosen, what we've chosen is invest in ourselves.
• 17:50
  SPEAKER_01: Nice.
• 17:51
  SPEAKER_01: So we've invested in businesses.
• 17:53
  SPEAKER_01: So now I have nine companies.
• 17:55
  SPEAKER_01: I've had 30 businesses I've started, but nine companies specifically right now that I've invested in and poured into.
• 18:01
  SPEAKER_00: Yep.
• 18:02
  SPEAKER_01: And then we built uh uh development and we then funded that, and then we built a wedding venue, funded that.
• 18:09
  SPEAKER_01: So we funded our own projects, and then uh there's kind of strategies with each of them.
• 18:15
  SPEAKER_01: But the traditional, the feeling is like, guys, I guess I'm supposed to.
• 18:20
  SPEAKER_01: Sure.
• 18:20
  SPEAKER_01: I guess I have to, I need to.
• 18:22
  SPEAKER_01: And then for taxes, well, there's some incentives to put it in a SEP.
• 18:26
  SPEAKER_01: That's right.
• 18:27
  SPEAKER_01: And yeah, I just need to do that, I guess.
• 18:30
  SPEAKER_01: Yeah, but I really want to put it in Tesla or Bitcoin or whatever.
• 18:34
  SPEAKER_01: But this group over here is saying don't do that because they're not making commissions on it.
• 18:40
  SPEAKER_01: Yeah.
• 18:41
  SPEAKER_01: And so the incentives are off, yeah, in my view.
• 18:44
  SPEAKER_02: I agree.
• 18:45
  SPEAKER_02: Yeah, if your advisor only gets paid if you buy their thing.
• 18:48
  SPEAKER_02: I remember looking around, and as a young advisor, I probably didn't go about it as tactfully enough when I went to the leadership.
• 18:54
  SPEAKER_02: And I was like, hey guys, I think everything you've been doing for a while is not the right way.
• 18:56
  SPEAKER_02: You know, they take kindly to that.
• 18:59
  SPEAKER_02: But I think it was there was something in me that was like, I don't think I would be a good client for the business I'm in.
• 19:03
  SPEAKER_02: Yeah.
• 19:03
  SPEAKER_02: Like I would have too many questions, or I I like the idea of owning real estate or investing in a business.
• 19:08
  SPEAKER_02: Or the first time I realized a self-directed IRA is you can actually put money into that SEP, get the tax benefit, but you don't have to buy a mutual fund with it.
• 19:15
  SPEAKER_02: You can actually buy real estate or invest in a company with it.
• 19:17
  SPEAKER_02: I was like, and so I kept having these like epiphany moments that drove me to start legacy where it's like, what if we're just a consulting firm?
• 19:24
  SPEAKER_02: Yeah, like do people need to invest?
• 19:25
  SPEAKER_02: Yes.
• 19:26
  SPEAKER_02: Let's be really good at it.
• 19:27
  SPEAKER_02: Is insurance important?
• 19:28
  SPEAKER_02: Yes.
• 19:29
  SPEAKER_02: But if I only have an insurance policy to sell or a mutual fund to sell you, I'm probably leaving off tax strategy, estate plan, like all the other things that are needed.
• 19:36
  SPEAKER_01: And that right there, by the way, and I appreciate that because to the pure entrepreneurs, and that that's where I I fall into that.
• 19:43
  SPEAKER_01: Um, it it never feels like you understand my world or my mindset.
• 19:48
  SPEAKER_02: Yeah.
• 19:49
  SPEAKER_01: Because you're forcing me to come to you and do your game.
• 19:52
  SPEAKER_01: Yeah.
• 19:53
  SPEAKER_01: When I'm like, no, no, no, I need to have the conversation.
• 19:56
  SPEAKER_01: And if I have the conversation, I'll hear like, yeah, that's great.
• 19:59
  SPEAKER_01: But when you sell your business, let's put it over here.
• 20:02
  SPEAKER_01: Yep.
• 20:02
  SPEAKER_01: Yeah.
• 20:03
  SPEAKER_01: And I'm like, but I don't know if that's the best strategy.
• 20:06
  SPEAKER_01: Why I I need options.
• 20:08
  SPEAKER_01: Yeah.
• 20:09
  SPEAKER_01: And I need someone who can help me with options and be creative.
• 20:13
  SPEAKER_01: Yes.
• 20:13
  SPEAKER_01: And that is missing.
• 20:15
  SPEAKER_02: It is.
• 20:16
  SPEAKER_02: I do I coach thousands of advisors across the country.
• 20:19
  SPEAKER_02: Part was like, I'm doing this, I'm figuring this out.
• 20:21
  SPEAKER_02: I'm young.
• 20:21
  SPEAKER_02: I wish somebody would have grabbed me early on and been like, hey, maybe being an advisor is not learning to sell product the best.
• 20:26
  SPEAKER_02: It's being a great communicator.
• 20:28
  SPEAKER_02: It's like challenging entrepreneurs to make better choices, yet not pushing them down a path where they're like everything in their body is saying that's not the model that's got me where I need to go.
• 20:39
  SPEAKER_02: So I do see this shift happening where people advisors are realizing it, especially this new crop of talent, are like, I don't want to be a salesperson.
• 20:47
  SPEAKER_02: That's not appealing to me.
• 20:48
  SPEAKER_02: I'd rather coach and encourage people.
• 20:51
  SPEAKER_02: But when you think about your process, if you're coaching other people listening right now, I I'm currently actively still in the business.
• 20:57
  SPEAKER_02: We have a practice, love my clients, we manage a lot of money.
• 21:00
  SPEAKER_02: It's needed and I believe in it.
• 21:02
  SPEAKER_02: I just got to a place to where if you sit across from a professional and it feels like they're always pushing you in a direction, how would you encourage people?
• 21:11
  SPEAKER_02: You sounds like you kind of have a natural radar for that.
• 21:14
  SPEAKER_01: Well, so if I'm if I'm talking to another advisor right now, what I'd say is like, uh walk a mile in my shoes.
• 21:21
  SPEAKER_01: You're forcing me to walk in your shoes.
• 21:22
  SPEAKER_01: Sure.
• 21:23
  SPEAKER_01: So I want you to uh I want you to understand my portfolio and my strategy, and I want you to help engage and offer solutions to my strategy and portfolio.
• 21:32
  SPEAKER_00: Yeah.
• 21:32
  SPEAKER_01: So my portfolio, when I say portfolio, most people think of investment portfolio.
• 21:37
  SPEAKER_00: Yeah.
• 21:37
  SPEAKER_01: You've got high risk, you've got your conservative, you got some in bonds, whatever.
• 21:41
  SPEAKER_01: And you've got your your no, I'm like, no, my diversified revenue portfolio.
• 21:46
  SPEAKER_01: So it's almost looking at my whole life going, look, I can I can pour X dollars into your deal and make eight percent.
• 21:55
  SPEAKER_01: Yeah, or I can put the same amount of money into this business, yeah, and it might fail.
• 22:01
  SPEAKER_01: And I could have, yeah, shoot, I should have.
• 22:04
  SPEAKER_01: Yeah, and I've had lots of failing in those businesses I've started, or just haven't worked out, or what, but I could take that amount of money and make I don't know 200%.
• 22:14
  SPEAKER_01: I mean, so the the idea is really um understand my portfolio, yeah, play with me and be a resource for me.
• 22:24
  SPEAKER_01: Yeah, so now if if I had someone who came alongside me, instead of them going, hey, if you're ever interested, we've got a great blah blah blah that gets you X percent.
• 22:33
  SPEAKER_01: Yeah, I'm like, Well, you're not even trying to go, Jeremy.
• 22:38
  SPEAKER_01: Tell me about your business.
• 22:39
  SPEAKER_01: What are you trying to do?
• 22:40
  SPEAKER_01: Yeah.
• 22:40
  SPEAKER_01: Are you aware that you can take your SUP and put it into this and that instead of that?
• 22:46
  SPEAKER_01: Oh, yeah.
• 22:47
  SPEAKER_01: No, I'm not aware.
• 22:48
  SPEAKER_01: You never heard of that.
• 22:49
  SPEAKER_01: No, I never heard of that.
• 22:50
  SPEAKER_02: Yeah, I know earlier in my career when when I shifted to I have strategy meeting with clients, I don't do review meetings, I don't do like initial consult consultations.
• 22:59
  SPEAKER_02: It's like if you were in a room with me, like I'm gonna bring something to your attention you're probably not aware of.
• 23:03
  SPEAKER_02: And then I wrote the book, Wish I Knew That Sooner, which is probably a little too dense of ideas.
• 23:06
  SPEAKER_02: But I remember writing it, so excited of like, I'm just gonna blow people's minds.
• 23:10
  SPEAKER_02: Because I'm in a room on with clients on a whiteboard, and like, I've never heard of that.
• 23:13
  SPEAKER_02: Why didn't my CPA tell me that?
• 23:14
  SPEAKER_02: That there is this whole different world of strategy that exists outside of the blocking and tackling of finance.
• 23:20
  SPEAKER_02: Should you fund a Roth?
• 23:21
  SPEAKER_02: Yes.
• 23:22
  SPEAKER_02: Should you have insurance for your family?
• 23:24
  SPEAKER_02: Of course.
• 23:24
  SPEAKER_02: Like that's important.
• 23:26
  SPEAKER_02: But when I see somebody's plan dominated by insurance, and I'll play a game in my own head sometimes.
• 23:30
  SPEAKER_02: Like I'll look at someone's plan, I was like, I bet I can tell you where their advisor is from.
• 23:34
  SPEAKER_02: Yeah, yeah, right.
• 23:35
  SPEAKER_02: Just based on what you own.
• 23:36
  SPEAKER_02: Yeah, what they that most people's financial plans is a collection of products they bought over time.
• 23:41
  SPEAKER_02: And I'll say that in a meeting, especially to business owners written there, like, yeah, you just described my financial plan.
• 23:46
  SPEAKER_02: Like, and it does that's not what I want.
• 23:47
  SPEAKER_02: I want something better than that.
• 23:48
  SPEAKER_01: Yeah.
• 23:49
  SPEAKER_02: So when you went to buy the Maxwell brand, that feels like potentially one of the bigger moves you've made in business.
• 23:57
  SPEAKER_01: Uh yeah, I mean, it was.
• 23:59
  SPEAKER_01: So I um because that, you know, we put together an investor group with us, and so then, but and then I went and ran that.
• 24:07
  SPEAKER_01: And so what it did for me is it brought me into a whole nother world of like seeing on a grand scale of like moving parts, and then to we it was during 08, 09, 10, it was horrible.
• 24:20
  SPEAKER_01: Yeah, and yet everyone went out of business, but we had cash, and then we put we picked up market share.
• 24:25
  SPEAKER_01: Nice.
• 24:26
  SPEAKER_01: So we started then deciding um, so he had too many brands, so we um turned a lot of them off, yeah, and then decided to focus in certain areas and then uh kind of brought him into the 21st century of digital.
• 24:39
  SPEAKER_01: Nice, brought digitized everything he was working on, and then we're was able to sell it back to him, and then he was able to go and kill it, and he's done really well.
• 24:46
  SPEAKER_01: Okay, so he's taken it and now you know we had that for about four or five years.
• 24:51
  SPEAKER_01: Oh wow, and then we then kept the other pieces, catalysts and leader cast and all that.
• 24:57
  SPEAKER_01: But what it really did for me personally was it started to understand the journey of like what I saw where the world was going, and I couldn't get other people to play in the the way that I saw it happening.
• 25:10
  SPEAKER_01: So I had a couple, Pat Lancioni and Henry Cloud.
• 25:13
  SPEAKER_01: We went on this trip to I think we're in Salt Lake City together, and we just did this little retreat, and um, they were like, dude, you do it, you got great stuff.
• 25:21
  SPEAKER_01: Yeah, why don't you take and I was like, You mean I can?
• 25:24
  SPEAKER_01: Because I'd been playing Operator.
• 25:26
  SPEAKER_01: Got it, and all of a sudden it shifted to go, you know what?
• 25:29
  SPEAKER_01: I'm gonna go for it.
• 25:30
  SPEAKER_01: And what I was doing was I was learning 21st century learning.
• 25:33
  SPEAKER_01: Yeah, how do adults learn in the new world?
• 25:35
  SPEAKER_01: Yeah, and we were coming out of the 20th century learning, which is uh people writing notes, fill in the blank.
• 25:41
  SPEAKER_01: Sure.
• 25:42
  SPEAKER_01: Or like that's not how people learn.
• 25:44
  SPEAKER_01: So we're visual, okay.
• 25:46
  SPEAKER_01: We don't read, yeah, we're visual now.
• 25:48
  SPEAKER_01: So I started building tools and I started partnering with Steve Cochran, and we started creating these great tools, the five voices.
• 25:56
  SPEAKER_01: We started figuring out how do you actually get um adults to know themselves, lead themselves, and then how to multiply themselves to other people.
• 26:04
  SPEAKER_01: Okay, how do you get healthy?
• 26:05
  SPEAKER_01: Right.
• 26:06
  SPEAKER_01: So that that started with just two and then four, and then six, then twelve, and then it started to scale um uh globally.
• 26:13
  SPEAKER_01: Um, and so that's that work has been great.
• 26:16
  SPEAKER_01: And so, but then in that work, I'm a I'm not an operator.
• 26:20
  SPEAKER_01: Okay, and and I realize I can operate, but that's not my highest and best.
• 26:25
  SPEAKER_01: Okay, I'm an architect and a builder, so then I can architect, I can see the future.
• 26:30
  SPEAKER_01: And so God's given me that ability to see what's going on, what's happening, and then adjust.
• 26:36
  SPEAKER_01: So I've just been creating content now and company.
• 26:39
  SPEAKER_01: So we have we have giant, and it's mainly for coaches and consultants and HR uh uh people development.
• 26:47
  SPEAKER_01: And then I took that and built better, which is a sports brand.
• 26:50
  SPEAKER_01: Yeah, built one called Six Summers, training parents on these same tools for the 13 to 18 year olds.
• 26:55
  SPEAKER_01: We started creating content for licensing for coaches and consultants with cadence.
• 27:00
  SPEAKER_01: We start so now I'm working in lots of different elements.
• 27:04
  SPEAKER_02: Yeah, there still seems to be like an undercurrent of like we create content, we make we have brands.
• 27:09
  SPEAKER_02: These don't feel like completely separate businesses.
• 27:12
  SPEAKER_01: No, in fact, they're even tighter.
• 27:14
  SPEAKER_01: It's actually journeys to go.
• 27:16
  SPEAKER_01: Um, we're helping people go from something to something.
• 27:20
  SPEAKER_01: Got it.
• 27:20
  SPEAKER_01: So I'm working right now on a brand called Generations, and it's for ultra high net worth uh uh families, and it's basically helping them uh with their second, third, fourth generation.
• 27:32
  SPEAKER_01: And so what that does is it's basically training them personally, relationally, and professionally to prepare them for future inheritance, future leadership.
• 27:41
  SPEAKER_01: Yes, but there's no one's really done a great job of organizing that, and so that's a that's a journey that I'm working on.
• 27:48
  SPEAKER_02: So is that a test that a company has to pass in your mind before you launch it?
• 27:52
  SPEAKER_02: Like, does this pass the journey test?
• 27:54
  SPEAKER_01: Yeah, I have kind of a criteria.
• 27:56
  SPEAKER_01: I have a stage gate process, and then what I've done, this is brilliant.
• 27:59
  SPEAKER_01: I well, not me, but GPT.
• 28:02
  SPEAKER_01: Sure, sure.
• 28:03
  SPEAKER_01: Chat.
• 28:03
  SPEAKER_01: I've been building GPTs.
• 28:05
  SPEAKER_00: Okay.
• 28:05
  SPEAKER_01: And I've been building them as criteria.
• 28:07
  SPEAKER_01: So then I take an idea through the GPT and then it walks me through stage gates to go, hey, does it does it make sense from an economic scale?
• 28:17
  SPEAKER_01: Does it make sense for the big idea?
• 28:19
  SPEAKER_01: Is the market ready for this?
• 28:20
  SPEAKER_01: Nice.
• 28:21
  SPEAKER_01: Is it play into the kingdom, like what you know your values and what you're about?
• 28:25
  SPEAKER_01: And if it doesn't say yes, like if I I kill it.
• 28:28
  SPEAKER_01: Nice.
• 28:28
  SPEAKER_02: And so if you trust it, you trust it that much.
• 28:31
  SPEAKER_01: It's unreal.
• 28:31
  SPEAKER_01: That's great.
• 28:32
  SPEAKER_01: It's unbelievable what it does.
• 28:33
  SPEAKER_01: So now I've just been in this GPT building land.
• 28:36
  SPEAKER_01: That's fine.
• 28:36
  SPEAKER_01: So I've been using GPTs on different journeys.
• 28:40
  SPEAKER_01: Got it.
• 28:40
  SPEAKER_01: And um, and then we had one.
• 28:42
  SPEAKER_01: Um, this is the cool part of doing this is that sometimes you work on some things, and we had one of our teams working on a five voices AI.
• 28:50
  SPEAKER_01: So we took AI and we've uh merged it with our personality tool.
• 28:54
  SPEAKER_01: So now Five Voices AI, if if you know the personality of your wife or kids, you can ask AI and it's specific to their personality and wiring.
• 29:04
  SPEAKER_02: Like, how can I better ask this question to them?
• 29:06
  SPEAKER_01: Or read this text.
• 29:08
  SPEAKER_01: What are they saying?
• 29:09
  SPEAKER_01: Got it.
• 29:09
  SPEAKER_01: Uh, what's the right email?
• 29:11
  SPEAKER_01: What how do I do a performance review for a nurture connector?
• 29:14
  SPEAKER_01: So now the it's hyper personal.
• 29:17
  SPEAKER_01: Yeah, it's live.
• 29:18
  SPEAKER_00: Oh, let's go.
• 29:19
  SPEAKER_01: So that is uh, but but from there, we we found this opportunity that there's a journey that um HR leaders were looking for, and they were frustrated with traditional Gallup or surveys because it's like to get a survey, it takes three months to get the information.
• 29:36
  SPEAKER_01: The information's not really right.
• 29:38
  SPEAKER_01: Yeah.
• 29:38
  SPEAKER_01: So we're like, what if we with AI?
• 29:41
  SPEAKER_01: So anyway, the journey is we basically created a uh uh a business called Workplace, and we can now, it's like uh we can we can see the actual culture score of how your culture is live by the minute through the signals that are happening on Zoom, Microsoft Teams, or Slack.
• 30:01
  SPEAKER_01: And because of it, you now don't need to ever do a survey again.
• 30:05
  SPEAKER_01: So it's called workplace, and workplace now you can literally it's like a stock ticker for your culture.
• 30:11
  SPEAKER_01: Goodness.
• 30:11
  SPEAKER_01: And so you can see so that's an example of like that's a corporate journey.
• 30:47
  SPEAKER_01: Yep.
• 30:48
  SPEAKER_01: Um, and so what I what I do is I think of it, what are you try what are you frustrated with and where are you trying to go?
• 30:53
  SPEAKER_01: And then I'm building those journeys all in marriage and health and entrepreneurship and corporate, and then I build the companies.
• 31:03
  SPEAKER_01: Yeah, the journey becomes an offering or a product.
• 31:05
  SPEAKER_01: I then get a team leader of each of those, and then they become a company that scales, and I'm basically my own venture studio, I'm my own startup, but I'm I'm a journey studio, nice, is how I've kind of uh positioned that so super fun.
• 31:23
  SPEAKER_02: Everything you're talking about, like there's so much purpose in it.
• 31:26
  SPEAKER_02: Yeah.
• 31:26
  SPEAKER_02: Um, but it needs to be a good business as well.
• 31:29
  SPEAKER_02: Is there a point where you're like this can be a breakeven thing because the the impact is so, or is just the business owner inside of you like if this is a good enough idea and I structure it the right way, it also is going to be profitable.
• 31:39
  SPEAKER_01: So I I have in my GPT stage gate that it has to be able to make a million dollars in 18 months.
• 31:45
  SPEAKER_01: Got it.
• 31:45
  SPEAKER_01: So that if I can make a million dollars, it's on the it's on the road, yeah, then it will scale.
• 31:50
  SPEAKER_01: Got it.
• 31:51
  SPEAKER_01: Uh, but I'm learning um too, if there's not anyone else competing in this space already, don't go into it.
• 32:00
  SPEAKER_01: That some for some reason the market said don't.
• 32:02
  SPEAKER_01: Yeah.
• 32:03
  SPEAKER_02: Got it.
• 32:03
  SPEAKER_02: Okay.
• 32:04
  SPEAKER_01: So if there's already a player out there doing something in this space, then I'll go out.
• 32:08
  SPEAKER_01: Do it better.
• 32:08
  SPEAKER_01: I'll do it better.
• 32:09
  SPEAKER_01: Got it.
• 32:10
  SPEAKER_01: Because our the text better, the pr the look, feel, the brand.
• 32:13
  SPEAKER_01: Yeah.
• 32:14
  SPEAKER_01: Um, I've done too many things in the past where I'm like, I got a great idea.
• 32:18
  SPEAKER_02: First one ever.
• 32:18
  SPEAKER_02: First to market.
• 32:19
  SPEAKER_02: Yeah.
• 32:19
  SPEAKER_02: Yeah.
• 32:20
  SPEAKER_01: And all five of those people, yeah.
• 32:22
  SPEAKER_01: You know, uh, the left-handed uh blind welder group is just not the group that I'm going after.
• 32:29
  SPEAKER_01: No offense to blind welders.
• 32:31
  SPEAKER_02: But I don't think surely there's not any blind welders.
• 32:33
  SPEAKER_02: Hope not.
• 32:34
  SPEAKER_02: So one thing we're working workshopping is as an advisor, I can't sit with my client every day.
• 32:40
  SPEAKER_02: You know, I try to be the voice on their shoulder of like, hey, should you do that?
• 32:43
  SPEAKER_02: Let's I'll coach them up.
• 32:44
  SPEAKER_02: Is that can we create a system or a framework?
• 32:47
  SPEAKER_02: Tony Robbins the other day was on a podcast saying, like the most successful people see patterns and they have systems, like the GPT, you're creating like, I need to fact check myself.
• 32:55
  SPEAKER_02: Is this emotional decision?
• 32:56
  SPEAKER_02: Is this real?
• 32:57
  SPEAKER_02: And so we came up with what we call risk performance time and fees.
• 33:01
  SPEAKER_02: Is that if I can help somebody walk through this, almost like a GPT you're talking about, is like, what's the does the risk profile fit me?
• 33:07
  SPEAKER_02: Therefore, I need to know what I'm trying to accomplish.
• 33:09
  SPEAKER_02: Does the performance match the risk?
• 33:12
  SPEAKER_02: Is there enough upside here to justify it?
• 33:14
  SPEAKER_02: Is it gonna require too much of me to make happen?
• 33:17
  SPEAKER_02: I think of clients that love real estate, they want to get into it, and I'm like, do you realize that's probably gonna take some of your time?
• 33:21
  SPEAKER_02: Right.
• 33:21
  SPEAKER_02: Do you have the time to manage this thing?
• 33:22
  SPEAKER_02: And then finally, what's the the fees, the cost to go through this thing?
• 33:26
  SPEAKER_02: What as you go through it, this might be natural in your mind.
• 33:30
  SPEAKER_01: You ought to create a GPT.
• 33:31
  SPEAKER_02: I don't even know.
• 33:31
  SPEAKER_02: I was about to tell me that.
• 33:32
  SPEAKER_02: No, we're gonna talk about it.
• 33:34
  SPEAKER_02: But what is there something missing in there?
• 33:36
  SPEAKER_02: And you think about a process for people that haven't had your experience, we're trying to give them a little system.
• 33:43
  SPEAKER_01: Okay, so uh yeah, so here's the here's the rub between me and you.
• 33:47
  SPEAKER_01: Okay.
• 33:47
  SPEAKER_01: Okay.
• 33:48
  SPEAKER_01: Not not really, but uh people like you.
• 33:50
  SPEAKER_01: Again, I love how you think that's so different, which is needed.
• 33:54
  SPEAKER_01: So keep going even more aggressive to that direction.
• 33:57
  SPEAKER_01: Okay, because I need to I need to feel that you're an advocate for me.
• 34:01
  SPEAKER_01: Again, that you're walking with me, that you're not forcing me to come to you.
• 34:05
  SPEAKER_01: Got it.
• 34:06
  SPEAKER_01: So therefore, if I take my risk, I'm like, all right, I've got X amount of dollars.
• 34:11
  SPEAKER_01: I'm going to employ them and invest them somewhere.
• 34:13
  SPEAKER_01: Somewhere.
• 34:14
  SPEAKER_01: Okay.
• 34:14
  SPEAKER_01: So I'm gonna invest X dollars every year, partly for taxes, partly because I should, I'm gonna maximize my, you know, uh uh tax uh benefits.
• 34:25
  SPEAKER_01: But um I'm gonna have X dollars and then I'm gonna have extra additional dollars outside of what I was just gonna do for investments, but I'm gonna my companies are requiring them.
• 34:35
  SPEAKER_01: Sure.
• 34:36
  SPEAKER_01: But it goes back to like risk management as a whole.
• 34:39
  SPEAKER_01: If you can create a risk profile for all the things I'm doing, not just your part, sure, then that's gold.
• 34:46
  SPEAKER_01: Nice because now you're looking at my world, and now I'm gonna invite you in to analyze my entire world.
• 34:53
  SPEAKER_00: Yep.
• 34:54
  SPEAKER_01: And if you built a GPT and walk me through it, and then this is it interviews, it pulls out things that no human would.
• 35:02
  SPEAKER_01: And it's unbelievable.
• 35:04
  SPEAKER_01: So by pulling out different things and items, but then you're the guide, so you're the expert.
• 35:09
  SPEAKER_01: Yep.
• 35:09
  SPEAKER_01: Because you're the one, you're the Sherpa that's taking people through.
• 35:12
  SPEAKER_01: Yeah.
• 35:13
  SPEAKER_01: But if you can do that for me, then I'll know I'll feel great because I know I've looked at my entire risk portfolio.
• 35:20
  SPEAKER_01: Yeah.
• 35:21
  SPEAKER_01: Now I love the formula.
• 35:23
  SPEAKER_01: So having a formula for sure.
• 35:25
  SPEAKER_01: Okay to go.
• 35:26
  SPEAKER_02: Do you find most people have that?
• 35:27
  SPEAKER_02: Like when you're interacting in business, you're hiring people, or most people like I'm just waking up doing the best I can today, hoping it works out.
• 35:34
  SPEAKER_01: Yeah.
• 35:34
  unknown: Okay.
• 35:35
  SPEAKER_01: They might have an adage, my dad said, or I read Tony Robbins said, or blah, blah, blah said.
• 35:42
  SPEAKER_01: But that's a mantra, that's an adage, but that's not a system.
• 35:44
  SPEAKER_01: That's right.
• 35:45
  SPEAKER_01: To go, no, no, no, a process.
• 35:47
  SPEAKER_01: Like I so that's why I put all mine into GPTs.
• 35:50
  SPEAKER_01: So I have like six now that I use for different things.
• 35:53
  SPEAKER_01: It's your board of directors.
• 35:55
  SPEAKER_01: Yeah, it's so much better.
• 35:56
  SPEAKER_01: Oh my gosh.
• 35:57
  SPEAKER_01: There's no drama to it as well.
• 35:59
  SPEAKER_01: So I can I can do it, and I can do it at uh 11 o'clock at night.
• 36:03
  SPEAKER_01: Sure.
• 36:03
  SPEAKER_01: If or if I'm watching last night, I'm watching the football game, I'm on my GPT, taking an idea through it, and decided that's going on the back burner.
• 36:12
  SPEAKER_01: Got it.
• 36:12
  SPEAKER_01: Because as I went through it, I was like, yeah, not now.
• 36:15
  SPEAKER_01: Nope.
• 36:16
  SPEAKER_01: Okay.
• 36:17
  SPEAKER_01: So it it just but my point is that having a process is awesome.
• 36:22
  SPEAKER_01: Leveraging tech, even better.
• 36:24
  SPEAKER_01: Yep.
• 36:25
  SPEAKER_01: Now coming to me with communication to go, hey Jeremy, we want to look at your entire portfolio.
• 36:30
  SPEAKER_01: Yep.
• 36:30
  SPEAKER_01: Let's do it once a year.
• 36:31
  SPEAKER_01: We call that the big meeting, whatever.
• 36:33
  SPEAKER_01: Yep.
• 36:33
  SPEAKER_01: Then we have our check-ins or whatever.
• 36:35
  SPEAKER_01: Yeah.
• 36:36
  SPEAKER_01: But if I know that you are an advocate for me and seeing the entire picture, not just seeing this one picture.
• 36:46
  SPEAKER_01: Yeah.
• 36:46
  SPEAKER_01: And I think that's where most of the people in your business, they see this one.
• 36:50
  SPEAKER_01: Sure.
• 36:50
  SPEAKER_01: Because it's the dollars I'm going to put for tax.
• 36:53
  SPEAKER_02: Yeah, it's what wins you do the trip and uh the system's built.
• 36:56
  SPEAKER_02: Yeah.
• 36:56
  SPEAKER_02: And I remember reading the Casey Means book about and it was eye-opening of like, wait, that's how the healthcare system works.
• 37:01
  SPEAKER_02: And not that there was one piece that was the bad piece.
• 37:03
  SPEAKER_02: It's like, no, but when it all starts interacting together, this is what we get.
• 37:06
  SPEAKER_02: Yeah.
• 37:07
  SPEAKER_02: We spend the most money on it, yet we don't get the best outcomes.
• 37:10
  SPEAKER_02: Yeah.
• 37:10
  SPEAKER_02: And as I'm in the industry now, there are different levels where people are okay with the status quo because it works.
• 37:16
  SPEAKER_02: I remember at one point I was like, wait, 80% of financial advisors don't make it past five years.
• 37:20
  SPEAKER_02: That's wild.
• 37:21
  SPEAKER_02: Yeah.
• 37:22
  SPEAKER_02: Why are we why are we doing this?
• 37:23
  SPEAKER_02: And then I realized, well, at some point it's okay because those people, even though they're in for one or two or three years, they sell enough stuff.
• 37:28
  SPEAKER_02: Right.
• 37:28
  SPEAKER_02: And that stays on the books for these insurance or investment companies.
• 37:32
  SPEAKER_02: Like they got the assets.
• 37:33
  SPEAKER_02: Right.
• 37:33
  SPEAKER_02: So at some level, they're okay with it.
• 37:35
  SPEAKER_02: But the lower you go down in the hierarchy, it's we're in the trenches just getting beat up.
• 37:41
  SPEAKER_02: That to me, that that awareness, you know, and uh stop short of conspiracy theorists, but you're like, okay, does this system what how is it built and what's incentivized?
• 37:50
  SPEAKER_02: That's probably going to be the outcome.
• 37:52
  SPEAKER_01: And it's a funnel.
• 37:53
  SPEAKER_01: So what's the funnel that's leading them to those products?
• 37:56
  SPEAKER_01: Yeah.
• 37:57
  SPEAKER_01: Or leading to eat these foods or whatever it is, which then requires you to need healthcare.
• 38:04
  SPEAKER_02: That's right, yeah.
• 38:06
  SPEAKER_01: Because of the red dye that you've been eating forever, led to your uh kidney issues.
• 38:11
  SPEAKER_01: Yep.
• 38:11
  SPEAKER_01: Right.
• 38:12
  SPEAKER_01: Yep.
• 38:12
  SPEAKER_01: Which gets you on dialysis, which then get yeah.
• 38:15
  SPEAKER_01: Totally.
• 38:15
  SPEAKER_01: So so the the other the other idea is like, yeah, create funnels aren't bad, but create a funnel to get you to your um to your wrist tiff, whatever it was.
• 38:26
  SPEAKER_01: Yeah, rip tiff.
• 38:26
  SPEAKER_01: Rift tiff.
• 38:27
  SPEAKER_01: You're working on it, I'll give you a shirt.
• 38:28
  SPEAKER_01: Yeah, but then but by doing that, if you can lead to the funnel, but if I go through that funnel and I go, ah, but that feels good because it it actually helps me as an entrepreneur.
• 38:39
  SPEAKER_01: That's great.
• 38:39
  SPEAKER_01: It's an entrepreneurial roadmap to look at, no matter what I'm looking at, then I'm gonna invite you in to be a part of it.
• 38:47
  SPEAKER_01: I'm gonna want you to, I'm gonna want people because I need people to help me where I'm weak or where I need, but I don't want to be forced into that.
• 38:55
  SPEAKER_02: Yeah.
• 38:55
  SPEAKER_02: And so some of the best meetings I've had with clients or entrepreneurs, I'm on a whiteboard, I'm like, wait, how much time are you spending on this?
• 39:01
  SPEAKER_02: Or why are you doing that?
• 39:02
  SPEAKER_02: So you're spending 80% on something that's giving you 20% of your revenue.
• 39:05
  SPEAKER_02: Like it is this, like, I'm trying to extract like what do you truly want?
• 39:08
  SPEAKER_02: Where are you going?
• 39:09
  SPEAKER_02: But when you're talking about funnels, I said this this moment of like, I guess we're all probably in a funnel right now, whether we're aware of it or not.
• 39:15
  SPEAKER_02: Multiple funnels.
• 39:16
  SPEAKER_02: And is it taking us where we want to go?
• 39:19
  SPEAKER_01: Right.
• 39:20
  SPEAKER_01: Yeah.
• 39:21
  SPEAKER_01: And the stronger the funnel, the better the funnel, you don't know it.
• 39:24
  SPEAKER_01: Yeah.
• 39:25
  SPEAKER_01: And so, but we're uh our algorithms are a funnel.
• 39:29
  SPEAKER_01: Yeah.
• 39:30
  SPEAKER_01: Social media is a funnel.
• 39:31
  SPEAKER_01: What I click on is part of the funnel, right?
• 39:34
  SPEAKER_01: What we eat.
• 39:35
  SPEAKER_01: So yeah, I mean, if you and that's not conspiracy theory, that's just reality of called marketing.
• 39:40
  SPEAKER_01: Yeah.
• 39:40
  SPEAKER_01: That's marketing is nothing more than manipulation to get you to where lead you where we want to lead you.
• 39:48
  SPEAKER_01: Yep.
• 39:48
  SPEAKER_01: And we hope along the way, and so and the smarter the marketer you are, you're watching all the data to convince people to keep going.
• 39:58
  SPEAKER_02: So with the level of awareness.
• 40:01
  SPEAKER_02: So I think there's an idea of if people most people are comfortable enough, they'll kind of hold where they are.
• 40:07
  SPEAKER_02: Um most of us as humans will probably reject some type of challenge to our status quo.
• 40:13
  SPEAKER_02: I don't know if that just kicks in like a defensive response.
• 40:15
  SPEAKER_02: Like if you say early in my career, when I wasn't as good of a communicator, there were times I'd be in a meeting with somebody, it's like, I just challenged choices they made.
• 40:24
  SPEAKER_02: And they they don't like that.
• 40:25
  SPEAKER_02: Like you did something wrong, let's fix it.
• 40:29
  SPEAKER_02: Do you find when you're out in the world of business and life, you're very generous with your time and energy?
• 40:36
  SPEAKER_02: Are people aware of that they're stuck and are heading where they want to go?
• 40:41
  SPEAKER_02: Are people resistant to these like wake-up moments?
• 40:44
  SPEAKER_01: This is this is now I'm gonna give you a mad science that's awesome.
• 40:48
  SPEAKER_01: The five voices.
• 40:49
  SPEAKER_01: Because if you know there's five different types of personality and there's 16 different variations.
• 40:55
  SPEAKER_01: Okay.
• 40:55
  SPEAKER_01: So I'm gonna give you by percentage because it's fascinating.
• 40:59
  SPEAKER_01: Um, all right.
• 41:00
  SPEAKER_01: The the quieter voices, there's quiet voices and there's loud voices.
• 41:04
  SPEAKER_01: The quietest voice are 43% of the population.
• 41:07
  SPEAKER_01: Okay, they're nurturers.
• 41:09
  SPEAKER_01: Nurturers are 70% or female.
• 41:12
  SPEAKER_01: Uh, they are champions of people.
• 41:14
  SPEAKER_01: So they just want chicken soup for the soul.
• 41:16
  SPEAKER_01: Everyone wanted to just get along.
• 41:18
  SPEAKER_01: So if you challenge a nurturer too much, they're gonna withdraw and they're gonna pull back.
• 41:24
  SPEAKER_01: So you have to be cognizant of what they want.
• 41:28
  SPEAKER_01: They want everyone to just be good.
• 41:29
  SPEAKER_01: Got it.
• 41:30
  SPEAKER_01: What do they want with their investments?
• 41:31
  SPEAKER_01: They just want to know that they're okay and that they're well, that's 43% of the population.
• 41:37
  SPEAKER_01: Wow, the majority.
• 41:38
  SPEAKER_01: Yeah.
• 41:39
  SPEAKER_01: So if you understand that and know who you're speaking to, you're gonna communicate differently with them.
• 41:44
  SPEAKER_01: You're gonna challenge them differently.
• 41:45
  SPEAKER_01: Wow.
• 41:46
  SPEAKER_01: The next one is the creative, they're introverts, they're uh only 9% of the population.
• 41:50
  SPEAKER_01: They're the second quietest, but they see the future more before anyone else.
• 41:55
  SPEAKER_01: But they're in their head and they have this architecture, like blueprint of what the future is gonna be like, and they're always getting more data and they're putting it in their map.
• 42:04
  SPEAKER_01: And they'll you'll know because they'll go, well, and they'll look up and they'll left and like hard to explain.
• 42:09
  SPEAKER_01: And it's like all these big ideas, it's hard to get out of their small mouth.
• 42:13
  SPEAKER_01: Okay, and they always go with context because they're trying to catch you up and bring you up to speed.
• 42:18
  SPEAKER_01: Then you get into the guardians 30% of the population, uh, they're 70% men, they are accountants, uh, soldiers, military, black and white, left, right, A, then B, then C, then D.
• 42:32
  SPEAKER_01: Okay.
• 42:33
  SPEAKER_01: So if you're across from a guardian, they ask a ton of questions.
• 42:36
  SPEAKER_01: They're gonna want clarity, they're gonna want detail, they're gonna want data.
• 42:40
  SPEAKER_01: They want to know and make sure that what they have is not being screwed up.
• 42:45
  SPEAKER_01: So challenging them is almost challenging their data.
• 42:48
  SPEAKER_01: Got it.
• 42:49
  SPEAKER_01: Okay.
• 42:49
  SPEAKER_01: So you got to be really aware.
• 42:51
  SPEAKER_01: Yeah, ready, be ready and be buttoned up and go, hey, I know you're probably interested in here's the facts and the details.
• 42:58
  SPEAKER_01: And they're the ones that actually read it the stuff.
• 43:00
  SPEAKER_01: Yeah.
• 43:01
  SPEAKER_01: The then the voices get louder.
• 43:03
  SPEAKER_01: So the next voice is the connector, and they're 11% of the population.
• 43:07
  SPEAKER_01: I'm a connector.
• 43:08
  SPEAKER_01: Okay, they're like bees and they pollinate, they pollinate ideas and people.
• 43:12
  SPEAKER_01: Okay.
• 43:12
  SPEAKER_01: So they're always looking for trends and people and they translate people all the time.
• 43:17
  SPEAKER_01: But they are excited about exciting things.
• 43:20
  SPEAKER_01: Nice.
• 43:20
  SPEAKER_01: So if you challenge them, they can actually go into stress behavior and they'll they have subtle slander as their stress tendency.
• 43:28
  SPEAKER_01: So when you're not with when they're not with you, yeah, they're like, Did you get stin?
• 43:34
  SPEAKER_01: And then what do you think of them, really?
• 43:36
  SPEAKER_01: Yeah.
• 43:36
  SPEAKER_01: And they'll try to take you out because you challenged them.
• 43:39
  SPEAKER_01: Got it.
• 43:39
  SPEAKER_01: If they're immature.
• 43:40
  SPEAKER_01: Sure.
• 43:41
  SPEAKER_01: And then the loudest voice is the pioneer.
• 43:43
  SPEAKER_01: 7% of the population, they're like military generals, they see things and they take ground.
• 43:48
  SPEAKER_01: Got it.
• 43:48
  SPEAKER_01: And they allocate people and resources.
• 43:51
  SPEAKER_01: So they like challenge.
• 43:53
  SPEAKER_01: Okay.
• 43:53
  SPEAKER_01: As long as you're credible and competent, but they'll come hard.
• 43:58
  SPEAKER_01: You got to be ready to give it and take it.
• 44:00
  SPEAKER_01: Yep.
• 44:00
  SPEAKER_01: And then, but if you're true, if you're right, you'll say, Well, Tom, let me just tell you, dude, you might think this, but you're actually heading in the wrong direction and I can prove it.
• 44:09
  SPEAKER_01: Wow.
• 44:10
  SPEAKER_01: And then Tom's like, I like you.
• 44:12
  SPEAKER_02: All right.
• 44:13
  SPEAKER_02: So the smallest group are the ones that you can just outright challenge.
• 44:16
  SPEAKER_02: Yeah.
• 44:17
  SPEAKER_02: The others require much more.
• 44:21
  SPEAKER_01: Yeah.
• 44:21
  SPEAKER_01: So, but there's only five.
• 44:23
  SPEAKER_01: Sure.
• 44:24
  SPEAKER_01: And you're one of them.
• 44:25
  SPEAKER_01: Yep.
• 44:25
  SPEAKER_01: Your personality wiring.
• 44:26
  SPEAKER_01: So if you can figure yourself out and know what your tendencies are, a lot of people are just um, they're not emotionally aware of what it's like to be on the other side of them.
• 44:36
  SPEAKER_00: Yeah.
• 44:36
  SPEAKER_01: So they undermine themselves all the time.
• 44:38
  SPEAKER_01: So my latest book is called The Voice Driven Leader.
• 44:41
  SPEAKER_01: The whole idea is if you know who you're talking to, speak their language.
• 44:46
  SPEAKER_01: Yeah.
• 44:47
  SPEAKER_01: So I was in the airport the other day in Phoenix, um, getting it Uber, and I'm waiting for him.
• 44:53
  SPEAKER_01: And this guy comes next to me, and I can tell he's frazzled, and he's opening up Uber, and he does not speak English.
• 44:59
  SPEAKER_01: And then I look at him and I'm like, Do you give a rush peruski, duh?
• 45:02
  SPEAKER_01: And he was Russian.
• 45:04
  SPEAKER_01: Nice.
• 45:04
  SPEAKER_01: And he goes.
• 45:05
  SPEAKER_01: And he goes, duh.
• 45:07
  SPEAKER_01: Do you give a rush perusky?
• 45:08
  SPEAKER_01: And I'm like, duh.
• 45:09
  SPEAKER_01: He goes, oh.
• 45:10
  SPEAKER_01: And he goes, My wife is going to be so glad.
• 45:13
  SPEAKER_01: And he goes, I'm trying to get here.
• 45:15
  SPEAKER_01: And I typed it in for him.
• 45:16
  SPEAKER_01: Oh, and I'm like, uh, yeah, I don't know how you're planning to make it, but anyway, didn't speak a lick of English and I was able to speak.
• 45:24
  SPEAKER_01: But when I spoke his language, I wasn't forcing him to try to speak English.
• 45:27
  SPEAKER_01: Got it.
• 45:28
  SPEAKER_02: Makes sense.
• 45:28
  SPEAKER_01: I was speaking his language.
• 45:30
  SPEAKER_01: So when you're with When you're with prospects or clients, speak their language, you're going to be like the best thing ever.
• 45:37
  SPEAKER_02: Yeah.
• 45:38
  SPEAKER_02: My mind went to my onboarding process of assessing them.
• 45:42
  SPEAKER_02: We have a practical assessment that we're rolling out of like how do you see different parts of your plan?
• 45:47
  SPEAKER_02: Yeah.
• 45:47
  SPEAKER_02: Because I I'll know how I see it pretty quick because my mind works that way.
• 45:50
  SPEAKER_02: But I may think you're a three out of five on this, and you're like, I'm a one out of five.
• 45:53
  SPEAKER_02: I never think about it.
• 45:54
  SPEAKER_02: But the voices, I guess, if we almost knew every client's voice going in.
• 45:59
  SPEAKER_02: A hundred percent.
• 46:00
  SPEAKER_02: There's an element of that where I'm like, that feels like a lot of switching between my team and clients.
• 46:05
  SPEAKER_02: How do you manage it?
• 46:06
  SPEAKER_02: I mean, maybe it's just wired into you now.
• 46:08
  SPEAKER_01: Well, I know it so well.
• 46:09
  SPEAKER_01: So I have them take fivevoices.com.
• 46:11
  SPEAKER_01: Yeah.
• 46:11
  SPEAKER_01: It's free.
• 46:12
  SPEAKER_01: So number five, voices.com.
• 46:14
  SPEAKER_01: Send me your results.
• 46:16
  SPEAKER_01: Now, if you want to go do five voices AI, it's 10 bucks a month.
• 46:19
  SPEAKER_01: Sure.
• 46:20
  SPEAKER_01: And and you have to add that to it.
• 46:22
  SPEAKER_01: But it's free for five voices.
• 46:23
  SPEAKER_01: Nice.
• 46:24
  SPEAKER_01: So once you know it, have them send the results.
• 46:27
  SPEAKER_03: Okay.
• 46:28
  SPEAKER_01: And then you go, okay, you're a pioneer.
• 46:30
  SPEAKER_01: Got it.
• 46:31
  SPEAKER_01: So helpful.
• 46:32
  SPEAKER_01: Noted.
• 46:32
  SPEAKER_01: Yeah.
• 46:32
  SPEAKER_01: You're a nurturer.
• 46:33
  SPEAKER_01: Got it.
• 46:35
  SPEAKER_01: So then I'm just going to I'm going to treat you the way you want to be treated.
• 46:38
  SPEAKER_01: I'm going to speak your language.
• 46:40
  SPEAKER_01: Yeah.
• 46:40
  SPEAKER_01: And then I'm going to provide information.
• 46:43
  SPEAKER_01: And now I have an unfair advantage.
• 46:45
  SPEAKER_01: Yeah.
• 46:46
  SPEAKER_01: Because I'm speaking what how you want.
• 46:49
  SPEAKER_01: Yeah.
• 46:49
  SPEAKER_02: I do feel, and I've noticed this with a lot of advisors, there are the the rainmakers, the man, that that person's just fun to be around.
• 46:55
  SPEAKER_02: And those advisors I've found are like, people are going to work with me because they like me.
• 46:59
  SPEAKER_02: Not that I'm good at my job, but I'm fun to be around.
• 47:03
  SPEAKER_02: When you are out in the marketplace working with professionals, how do you balance like communication approach?
• 47:10
  SPEAKER_02: This kind of softer stuff with like, am I am I great at my job?
• 47:14
  SPEAKER_02: Like, am I investing in the technical side of what I do?
• 47:16
  SPEAKER_01: All right.
• 47:16
  SPEAKER_01: So every one of us has like uh walls up with other people.
• 47:21
  SPEAKER_01: It's just natural.
• 47:22
  SPEAKER_01: It's called self-preservation.
• 47:23
  SPEAKER_00: Yeah.
• 47:23
  SPEAKER_01: But we lower the wall if we like them.
• 47:26
  SPEAKER_01: Okay.
• 47:26
  SPEAKER_01: Okay.
• 47:27
  SPEAKER_01: So the the trick is how do you lower, how do you lower other people's walls?
• 47:32
  SPEAKER_01: Well, there's four things that have to happen.
• 47:33
  SPEAKER_01: There's there's two columns.
• 47:35
  SPEAKER_01: One is character and chemistry.
• 47:37
  SPEAKER_01: Okay.
• 47:37
  SPEAKER_01: The other is competency and credibility.
• 47:39
  SPEAKER_00: Okay.
• 47:40
  SPEAKER_01: So if I'm a thinker, I want competency and credibility first.
• 47:45
  SPEAKER_01: So do you do you know what you're talking about?
• 47:47
  SPEAKER_01: Uh-huh.
• 47:48
  SPEAKER_01: I don't have much time.
• 47:49
  SPEAKER_01: No.
• 47:49
  SPEAKER_01: What what do you have to offer that could be really helpful to me?
• 47:52
  SPEAKER_01: Yep.
• 47:53
  SPEAKER_01: And who else have you done it with?
• 47:55
  unknown: Okay.
• 47:55
  SPEAKER_01: Credibility.
• 47:56
  SPEAKER_01: Yep.
• 47:56
  SPEAKER_01: All right.
• 47:57
  SPEAKER_01: If I if you say something that's like, well, most do this, but we do this, I'm like, okay.
• 48:03
  SPEAKER_01: And here's how it's helped so and so and so and so.
• 48:06
  SPEAKER_01: Okay.
• 48:07
  SPEAKER_01: All right.
• 48:07
  SPEAKER_01: I'm gonna then I'm gonna go next backwards into do I do I trust you?
• 48:13
  SPEAKER_01: Do you seem trustworthy?
• 48:14
  SPEAKER_01: And do I like you?
• 48:15
  SPEAKER_01: Character and chemistry.
• 48:16
  SPEAKER_01: Okay.
• 48:17
  SPEAKER_01: If so, then the walls are down, and now you have an opportunity for influence.
• 48:21
  SPEAKER_01: Okay.
• 48:22
  SPEAKER_01: If you're a feeler, it's the opposite.
• 48:24
  SPEAKER_01: Character chemistry first.
• 48:26
  SPEAKER_01: Um, do I trust you?
• 48:28
  SPEAKER_01: Yeah, you seem like a good guy, man.
• 48:30
  SPEAKER_01: I've already felt that with you.
• 48:31
  SPEAKER_01: Yeah.
• 48:31
  SPEAKER_01: I mean, I've been around you a couple of times.
• 48:33
  SPEAKER_01: I'm like, all right, you're a good character.
• 48:34
  SPEAKER_01: Yeah.
• 48:35
  SPEAKER_01: Do I like you?
• 48:37
  SPEAKER_01: That's another thing.
• 48:38
  SPEAKER_01: Well, how much do I need to like you?
• 48:40
  SPEAKER_01: Yeah.
• 48:40
  SPEAKER_02: But is it the doctor with bad bedside manner, but they're the best of what they need.
• 48:44
  SPEAKER_01: Yeah.
• 48:44
  SPEAKER_01: But but so then do so.
• 48:47
  SPEAKER_01: I'm gonna start, I'm a feeler.
• 48:48
  SPEAKER_01: So I'm gonna start with character chemistry.
• 48:50
  SPEAKER_02: Got it.
• 48:51
  SPEAKER_02: Okay.
• 48:51
  SPEAKER_01: Because it's like instant, do I like, do I want to be around them?
• 48:55
  SPEAKER_01: Yep.
• 48:55
  SPEAKER_01: And then there's competency and credibility.
• 48:58
  SPEAKER_01: And so do you do I know your stuff?
• 49:00
  SPEAKER_01: Yeah.
• 49:00
  SPEAKER_01: Or do you know your stuff?
• 49:02
  SPEAKER_01: And then um, are you credible?
• 49:04
  SPEAKER_01: Same way, the walls go down.
• 49:06
  SPEAKER_01: Yeah.
• 49:07
  SPEAKER_01: And what happens then over time, when you're when you leave, we leave each other, the walls naturally go up a little bit.
• 49:14
  SPEAKER_01: Okay.
• 49:14
  SPEAKER_01: They just kind of default back up.
• 49:17
  SPEAKER_01: So when I'm with you again, there's still some work to be done.
• 49:20
  SPEAKER_01: Then it well, it's just natural, but it won't take long.
• 49:22
  SPEAKER_00: Okay.
• 49:23
  SPEAKER_01: Then it's like, oh, I really do like Sten.
• 49:25
  SPEAKER_00: Yeah.
• 49:25
  SPEAKER_01: Oh, it is really good.
• 49:26
  SPEAKER_01: And I might learn more information.
• 49:28
  SPEAKER_00: Got it.
• 49:28
  SPEAKER_01: But there's sometimes when you're around some people, the more you're around them, the walls go up.
• 49:33
  SPEAKER_01: Because you're like, you're good to be around for 48 hours, but after that, too much.
• 49:37
  SPEAKER_01: Yeah.
• 49:38
  SPEAKER_01: So I have I have uh had a situation with a partner that was been like that, where he was great for 48 hours, and then after that, the walls go up and he loses influence the more you're around him.
• 49:50
  SPEAKER_01: Got it.
• 49:51
  SPEAKER_02: So was that like the extrovert introvert energy colliding?
• 49:54
  SPEAKER_02: What was the discretion and discipline?
• 49:57
  SPEAKER_01: Got it.
• 49:58
  SPEAKER_01: Okay.
• 49:58
  SPEAKER_01: It was the uh you're saying too much.
• 50:01
  SPEAKER_01: You're letting them in too much into your mess of a world.
• 50:05
  SPEAKER_01: Got it.
• 50:05
  SPEAKER_02: So okay, makes sense.
• 50:07
  SPEAKER_02: So as we think about the investing, and the you know, we're launching this podcast to to help.
• 50:14
  SPEAKER_02: I wish I could sit at a table with every single person and walk them through our process, and that's not possible.
• 50:20
  SPEAKER_02: I also get to see the investment advisor world as I coach and speak all the time.
• 50:24
  SPEAKER_02: And there is this disconnect of the motivations for the industry.
• 50:28
  SPEAKER_02: And this isn't every advisor, and I think there's great advisors that are like, of course this works.
• 50:31
  SPEAKER_02: A lot of people are better off with a traditional advisor than they are without.
• 50:35
  SPEAKER_02: I'm okay with that.
• 50:37
  SPEAKER_02: But as soon as you see like, oh, whoa, there's a better way, you want everybody to know about it.
• 50:42
  SPEAKER_02: And so as we try to as we build this framework, launch this podcast, and like redefine investing, you are a coach, you create a bunch of content, but not being advisor, if you were sitting across encouraging somebody on how to invest, what would be your approach?
• 50:57
  SPEAKER_01: Well, I don't know if I'm gonna answer your question, but if it's if it's me, I'm gonna create a GPT experience.
• 51:03
  SPEAKER_01: I'm gonna interview them through this experience because you're now they're going to experience technology in a way they've never experienced it before.
• 51:11
  SPEAKER_01: And it's gonna be so wow that they're gonna be, oh my gosh, I just met with this guy.
• 51:16
  SPEAKER_01: They won't talk about it.
• 51:17
  SPEAKER_01: Uh it was unbelievable what it came what came out.
• 51:20
  SPEAKER_01: I just had never experienced that before.
• 51:22
  SPEAKER_01: They're gonna tell everyone they know.
• 51:24
  SPEAKER_01: It's referral.
• 51:25
  SPEAKER_01: So then an easy question when you meet with someone is a referral.
• 51:29
  SPEAKER_01: Hey, who do you know that's like you?
• 51:31
  SPEAKER_01: You're awesome.
• 51:31
  SPEAKER_01: Who do you know that would want the same experience?
• 51:34
  SPEAKER_01: Yeah.
• 51:34
  SPEAKER_01: Oh, I yeah, I got five.
• 51:36
  SPEAKER_01: Yeah.
• 51:37
  SPEAKER_01: And it just naturally flows from that perspective.
• 51:40
  SPEAKER_02: Do you talk people out of getting into business and investing the way you invest?
• 51:45
  SPEAKER_01: Um, yeah, I mean, so I have a I have we talked to last night, I have a philosophy of O's and X's.
• 51:52
  SPEAKER_01: So O people or people who have jobs, yeah, and they trade time for money and they become uh um, you know, they're a director, a VP, a senior VP, a CEO, big O, but their whole world is in that world.
• 52:05
  SPEAKER_01: And they so for that world of O's, and that's 90% of the population, for that world, they're used to every two-week paycheck, they're used to traditional products.
• 52:18
  SPEAKER_01: Sure.
• 52:19
  SPEAKER_01: They're they're marketed to very differently than X's because there's a wall right here called risk.
• 52:25
  SPEAKER_01: 10% of the world are entrepreneurs, they work for self.
• 52:29
  SPEAKER_01: O is for others, X, they work for themselves, and they have a portfolio approach.
• 52:35
  SPEAKER_01: Some might be an XO, their company is their job.
• 52:39
  SPEAKER_01: Yeah, and so it's more of an O, but they own it.
• 52:42
  SPEAKER_00: Sure.
• 52:43
  SPEAKER_01: But for me, I have multiple businesses, so I'm not traditional.
• 52:47
  SPEAKER_00: Yeah.
• 52:47
  SPEAKER_01: So traditional marketing is not gonna work for me.
• 52:50
  SPEAKER_01: Traditional, so if you know and understand who you're talking to, well, there's an O over here that's a government O because they're so reserved, they're just in it for their benefits.
• 53:00
  SPEAKER_01: You're gonna sell to them totally different than an ex or Elon Musk, the most amazing ex ever.
• 53:08
  SPEAKER_01: Um, you know, he's you're not gonna sell him uh a product.
• 53:12
  SPEAKER_01: Yeah, he's not going for that 8% mutual.
• 53:14
  SPEAKER_01: No, no, he's not so but my point it'd be so funny, wouldn't it, to have a video of someone trying to sell him that would be yeah.
• 53:21
  SPEAKER_01: But um, but that's understanding are they an O, are they an X?
• 53:26
  SPEAKER_01: Where are they?
• 53:27
  SPEAKER_01: And then who are they?
• 53:29
  SPEAKER_01: What's their wiring?
• 53:30
  SPEAKER_01: Yeah, now you have an unfair advantage because now if I know you're a pioneer, I'm going right for competency and credibility first.
• 53:38
  SPEAKER_01: Then I'll back into character and chemistry.
• 53:40
  SPEAKER_01: Yeah.
• 53:40
  SPEAKER_01: And that's not manipulation, it's called strategy.
• 53:44
  SPEAKER_01: It's smart.
• 53:45
  SPEAKER_01: Yeah.
• 53:45
  SPEAKER_01: I'm speaking your language.
• 53:48
  SPEAKER_02: So when think about diversifying your investing, you're is it fair to say the best rate of returns you've received are on things you've built yourself, invest in yourself?
• 53:56
  SPEAKER_02: That the maybe the sexiest part of your portfolio overall is not the Roth or the SEP, yet probably important to some degree.
• 54:03
  SPEAKER_01: Yes.
• 54:04
  SPEAKER_01: So could you expand on that?
• 54:05
  SPEAKER_01: Yeah.
• 54:06
  SPEAKER_01: So my strategy is my I I invest in my businesses.
• 54:10
  SPEAKER_01: I have uh I have invested, and then I've had traditional investments, you know, every year the tax things like I told you about.
• 54:16
  SPEAKER_01: Then I've had my try into investing in other other things.
• 54:21
  SPEAKER_01: And I, you know, I've raised money uh for some of our ventures.
• 54:24
  SPEAKER_01: I've raised$2 million recently for one venture and from people.
• 54:28
  SPEAKER_01: So I'm asking people to invest in me.
• 54:30
  SPEAKER_01: Yeah, uh, but when I've invested in other deals, uh I've had just moderate success.
• 54:37
  SPEAKER_01: And it's just not, you only have so much time and resources.
• 54:41
  SPEAKER_01: So like I'd rather put them in the things I'm excited about that are missional.
• 54:45
  SPEAKER_01: And when I did my oil tries and then just lost my shirt on on things, I'm like, I what am I doing?
• 54:53
  SPEAKER_01: That's not me.
• 54:53
  SPEAKER_01: I'm not an energy oil guy.
• 54:55
  SPEAKER_01: Yeah.
• 54:55
  SPEAKER_02: But you had somebody you knew in the space that you said, hey, I'm gonna kind of rely heavily on their expertise.
• 55:02
  SPEAKER_02: That's right.
• 55:03
  SPEAKER_02: When you look back at that decision, because you said that was one of the least beneficial investments you made.
• 55:08
  SPEAKER_01: Yeah.
• 55:08
  SPEAKER_02: I lost.
• 55:09
  SPEAKER_02: Did you not put it through a filter, didn't have a GPT then?
• 55:11
  SPEAKER_01: Like what I put it through the credibility of my friend.
• 55:14
  SPEAKER_02: So if it had one filter, yeah.
• 55:16
  SPEAKER_02: Okay.
• 55:16
  SPEAKER_02: But if it had others, there's a chance you wouldn't have done it.
• 55:19
  SPEAKER_02: That's right.
• 55:19
  SPEAKER_02: Today you wouldn't.
• 55:20
  SPEAKER_02: I wouldn't have done it.
• 55:21
  SPEAKER_01: No.
• 55:21
  SPEAKER_01: Now, at the same time, uh a couple of years ago, I invested in a I invested uh a lot of sweat equity and my know-how into a business that was a startup.
• 55:32
  SPEAKER_01: Uh, I get one percent of that business, and then I brought revenue or people uh to raise money to that.
• 55:40
  SPEAKER_01: So I invested in time and effort and energy and brought, so those are, you know, and I think this year I'm gonna win.
• 55:47
  SPEAKER_01: Nice.
• 55:47
  SPEAKER_01: So I think my oil worry might come back.
• 55:50
  SPEAKER_01: So but it's it's not my it's like again, once you know you have uh you have your skill set, you have a certain amount of time and energy.
• 55:59
  SPEAKER_01: I had to build a GPT to create my own criteria because left unchecked as a connector, I can say yes to too many things.
• 56:08
  SPEAKER_01: So I had to build my own system to go, should I, yes or no?
• 56:12
  SPEAKER_01: Yeah.
• 56:12
  SPEAKER_01: And last night it was like good idea, not now.
• 56:16
  SPEAKER_01: Not now.
• 56:16
  SPEAKER_02: That's good.
• 56:16
  SPEAKER_01: So I take that idea and put it in my idea bucket, and I have like 70.
• 56:21
  SPEAKER_01: So these ideas that are good for someone someday or me later.
• 56:25
  SPEAKER_01: Yep.
• 56:26
  SPEAKER_02: Do you go purge that list ever, or is it kind of this ever growing up?
• 56:30
  SPEAKER_02: Every year I go through it again.
• 56:31
  SPEAKER_02: Okay, and it's get re-excited about those.
• 56:34
  SPEAKER_01: Yeah, or or I know it's in there, but they don't have pressure over me anymore.
• 56:38
  SPEAKER_01: Because used to, I'd have an idea and it'd be like, hey, what about me?
• 56:41
  SPEAKER_00: What about me?
• 56:42
  SPEAKER_01: And I'm like, uh, no, I'm gonna put you in here.
• 56:44
  SPEAKER_01: Yeah.
• 56:45
  SPEAKER_01: And I know you're there.
• 56:46
  SPEAKER_01: And it's like ideas to me are like organisms, they're like alive.
• 56:49
  SPEAKER_01: Yeah.
• 56:50
  SPEAKER_01: And so they sit in there, but now because of AI and and the GPT system I built, they come alive faster.
• 56:57
  SPEAKER_01: Because now I can drop them in and now it's building.
• 57:01
  SPEAKER_01: Nice.
• 57:01
  SPEAKER_01: And so now I'm building a team that I can actually do something with these ideas.
• 57:06
  SPEAKER_01: And then a lot of them were like, okay, you're ready to go, you become a company.
• 57:10
  SPEAKER_00: Yeah.
• 57:10
  SPEAKER_01: And then Kevin, Seth, you're running it.
• 57:13
  SPEAKER_01: Whatever one of our guys is running it, and now it goes into an operational side.
• 57:18
  SPEAKER_02: I've run into man, that's a great idea.
• 57:21
  SPEAKER_02: It's there for the taking.
• 57:22
  SPEAKER_02: It checks every box except the people thing, because you can't run all of these.
• 57:27
  SPEAKER_02: How have you learned to like find these people, put the right people in place?
• 57:31
  SPEAKER_02: Yeah.
• 57:31
  SPEAKER_02: Because I think great ideas, if not manage well and launched well.
• 57:34
  SPEAKER_01: So every business and basics are a business plan, financial plan, and a people plan.
• 57:40
  SPEAKER_01: Got it.
• 57:41
  SPEAKER_01: So it's like, what's the business model?
• 57:43
  SPEAKER_01: What's the business plan?
• 57:44
  SPEAKER_01: What's the financial plan?
• 57:45
  SPEAKER_01: And a lot of smart guys just think, oh, we can just find people.
• 57:49
  SPEAKER_01: Yeah, that's right.
• 57:50
  SPEAKER_01: So what happens if you have a really good business plan and it's fully funded, but no people?
• 57:56
  SPEAKER_01: Right?
• 57:56
  SPEAKER_01: You got a great car that's just sitting there and it's running.
• 58:00
  SPEAKER_01: Sure.
• 58:01
  SPEAKER_01: And it's the gas is going, but there's it's not going anywhere.
• 58:03
  SPEAKER_01: Yeah.
• 58:04
  SPEAKER_01: So the same in the same way, if you have a business plan and people with no money, yeah, you're not moving.
• 58:09
  SPEAKER_01: If you have money and people and no plan, you're just cruising.
• 58:13
  SPEAKER_01: Yeah, you're you're just moving, yeah.
• 58:15
  SPEAKER_01: Uh, so that's the reality.
• 58:17
  SPEAKER_01: So for me, as a connector, um, I'm all ideas are easy.
• 58:22
  unknown: Okay.
• 58:23
  SPEAKER_01: Ideas are they're the share everywhere.
• 58:26
  SPEAKER_01: Yep.
• 58:26
  SPEAKER_01: Opportunity everywhere.
• 58:27
  SPEAKER_01: Yep.
• 58:28
  SPEAKER_01: And by the way, for those listening, the the golden era that Trump's talked about, the reason it is here with tech and the position of America.
• 58:38
  SPEAKER_01: If you're an American entrepreneur, it was it is the most fun time to be alive.
• 58:43
  SPEAKER_01: The most fun.
• 58:44
  SPEAKER_01: And I thought the dot com was fun.
• 58:46
  SPEAKER_01: I thought that the you know the internet era was fun.
• 58:49
  SPEAKER_01: This is the most fun time to be alive, in my opinion.
• 58:52
  SPEAKER_01: Yeah.
• 58:52
  SPEAKER_01: And so um, lots and lots of opportunities.
• 58:55
  SPEAKER_01: But so for me, I'm always ideas are are easy.
• 58:58
  SPEAKER_01: Collecting people are um what I'm always looking for.
• 59:02
  SPEAKER_01: So what I do in the same way that I have an idea bucket, I have a talent bucket.
• 59:07
  SPEAKER_01: So I'm always going, okay, I met with Carrie yesterday.
• 59:11
  SPEAKER_01: Where's she at?
• 59:11
  SPEAKER_01: How's she doing?
• 59:12
  SPEAKER_01: When would I ever need to use Carrie?
• 59:14
  SPEAKER_01: What would Carrie when I say use?
• 59:15
  SPEAKER_01: I mean like partner with partner with.
• 59:17
  SPEAKER_01: Yeah.
• 59:17
  SPEAKER_01: Uh would she be helpful?
• 59:19
  SPEAKER_01: Not okay.
• 59:20
  SPEAKER_01: So then uh, and then what about Tom?
• 59:22
  SPEAKER_01: And I met with Tom this weekend.
• 59:23
  SPEAKER_01: How's that?
• 59:24
  SPEAKER_01: You know, so I'm always like, Okay, but I'm because without it, business plan, people, financial plan, yeah.
• 59:30
  SPEAKER_01: All three have to be be there.
• 59:31
  SPEAKER_01: Yeah, so I just naturally have it as a connector.
• 59:34
  SPEAKER_01: Okay, and the way that connectors work, they can remember things for a long time.
• 59:39
  SPEAKER_01: They'll be like, hey, are you still looking for a truck?
• 59:41
  SPEAKER_01: Nice, that was 20 years ago.
• 59:43
  SPEAKER_01: I got a guy, yeah.
• 59:45
  SPEAKER_01: And and the connectors are I got a guy, got it.
• 59:48
  SPEAKER_02: I got an idea or I got a guy.
• 59:49
  SPEAKER_02: Yeah.
• 59:49
  SPEAKER_02: And what's tough is I wish sometimes I was that and I'm not.
• 59:52
  SPEAKER_02: I obviously have my own superpowers, but I think recognizing that's not a natural strength I've built.
• 59:59
  SPEAKER_02: Do you just make sure that you have friends that are connectors, you partner with connectors?
• 1:00:03
  SPEAKER_02: What's the solution?
• 1:00:04
  SPEAKER_01: Absolutely both.
• 1:00:05
  SPEAKER_01: And or find a connector, yeah.
• 1:00:06
  SPEAKER_01: That you in time, the now with connectors, you have to rein them in and you have to train them and apprentice them.
• 1:00:13
  SPEAKER_01: Got it.
• 1:00:13
  SPEAKER_01: So um in the voice trim and leader book, um, uh basically the the idea is know who the other person is and speak their language, but it's know where they are on the journey, the development journey.
• 1:00:26
  SPEAKER_01: Are they in the foundation onboarding stage?
• 1:00:29
  SPEAKER_01: Are they in the immersion stage where you're training them?
• 1:00:32
  SPEAKER_01: Are they in the empowerment stage where they're like just good?
• 1:00:35
  SPEAKER_01: Yeah.
• 1:00:35
  SPEAKER_01: Are they in the multiplication stage?
• 1:00:37
  SPEAKER_01: And to me, investing is multiplication.
• 1:00:40
  SPEAKER_01: It's like multiplication is the intentional transfer of knowledge, wisdom, skills into the other person for their benefit and my benefit.
• 1:00:48
  SPEAKER_00: Okay.
• 1:00:49
  SPEAKER_01: So I'm multiplying things into you because um one plus one equals three.
• 1:00:55
  SPEAKER_00: Yeah.
• 1:00:56
  SPEAKER_01: You couldn't do without me.
• 1:00:58
  SPEAKER_01: That's right.
• 1:00:59
  SPEAKER_01: I couldn't do without you.
• 1:01:00
  SPEAKER_03: Yeah.
• 1:01:01
  SPEAKER_01: You need a great connector to get to the next level, but that connector has to be mature.
• 1:01:06
  SPEAKER_01: Yeah.
• 1:01:07
  SPEAKER_01: That connector doesn't meander to someone else's camp.
• 1:01:10
  SPEAKER_01: They stay with you.
• 1:01:11
  SPEAKER_00: Yep.
• 1:01:12
  SPEAKER_01: So the incentives have to be right, the motivation has to be right, timing has to be right.
• 1:01:17
  SPEAKER_01: Yeah.
• 1:01:17
  SPEAKER_01: But it's it's ultimately um you're trying to get them into this empowerment stage, and then you want them to multiply, yeah.
• 1:01:24
  SPEAKER_01: Multiply leads, train up other people, and it's hard.
• 1:01:29
  SPEAKER_01: Oh, yeah.
• 1:01:29
  SPEAKER_01: And that's it's because it's hard to keep people because on one hand, the more successful you get, the more you're like, hey, I think I might do something else.
• 1:01:39
  SPEAKER_01: And then when you drift, the company drifts.
• 1:01:41
  SPEAKER_01: That's right.
• 1:01:42
  SPEAKER_01: And then they'll go, well, he's not really interested anymore.
• 1:01:44
  SPEAKER_01: This guy is.
• 1:01:45
  SPEAKER_01: Yeah.
• 1:01:46
  SPEAKER_01: And so then you lose people.
• 1:01:48
  SPEAKER_01: That's right.
• 1:01:48
  SPEAKER_01: Yeah.
• 1:01:48
  unknown: Yeah.
• 1:01:49
  SPEAKER_02: I think the loyalty is not promised idea.
• 1:01:51
  SPEAKER_02: You know, I think early on my career, I was like, I have all these people working for me.
• 1:01:54
  SPEAKER_02: The success is they work for me for the next 40 years.
• 1:01:58
  SPEAKER_02: And I've had to grow as a leader where it's like, no, sometimes launching somebody well is a gift.
• 1:02:03
  SPEAKER_02: And like seeing them succeed.
• 1:02:05
  SPEAKER_02: Yeah.
• 1:02:05
  SPEAKER_02: Even though for us it's not the best outcome.
• 1:02:08
  SPEAKER_02: Like it probably does impact my profitability negatively as I'd have to train and replace somebody.
• 1:02:13
  SPEAKER_02: But I think that's part of being a healthy entrepreneur.
• 1:02:17
  SPEAKER_01: And roles, I think that's important.
• 1:02:19
  SPEAKER_01: If anyone who's any entrepreneurs, you'll know this intuitively, but you're some of your roles, they have ideal age ranges.
• 1:02:28
  SPEAKER_01: And sometimes you stay with someone too long because you're loyal to them.
• 1:02:31
  SPEAKER_01: Oh, yeah.
• 1:02:32
  SPEAKER_01: And then and then their identity is well, I'm a vice president.
• 1:02:36
  SPEAKER_01: Sure.
• 1:02:36
  SPEAKER_01: I'm a VP.
• 1:02:37
  SPEAKER_01: Yeah.
• 1:02:38
  SPEAKER_01: I I worked my tail off to get to become VP, and now I'm staying here.
• 1:02:41
  SPEAKER_01: Yeah.
• 1:02:42
  SPEAKER_01: Like, well, then you're not multiplying.
• 1:02:43
  SPEAKER_01: We call it the green room.
• 1:02:45
  SPEAKER_01: Uh the green room is what happens when people go, they start eating the snacks meant for other people.
• 1:02:51
  SPEAKER_01: Oh nice.
• 1:02:51
  SPEAKER_01: They're they're they're stuck, they're not multiplying.
• 1:02:54
  SPEAKER_01: Yeah, they love their role, their their season, they've learned it all.
• 1:03:01
  SPEAKER_01: They're not learning anymore.
• 1:03:02
  SPEAKER_01: They're just regurgitating what they've already done.
• 1:03:05
  SPEAKER_01: So the idea is like, no, no, you always are always pushing people, but like there's some certain roles, like go to Chick-fil-A.
• 1:03:12
  SPEAKER_01: Sure.
• 1:03:13
  SPEAKER_01: The drive-thru window, yeah.
• 1:03:15
  SPEAKER_01: That's probably a four-year, three-year role.
• 1:03:17
  SPEAKER_01: Sure.
• 1:03:17
  SPEAKER_01: And then that person moves up to the next if they make it.
• 1:03:21
  SPEAKER_01: That's right.
• 1:03:21
  SPEAKER_01: And so you're always moving people through the assembly line.
• 1:03:24
  SPEAKER_00: Yeah.
• 1:03:25
  SPEAKER_01: Well, the same is true in organizations.
• 1:03:27
  SPEAKER_01: There's like a role, and those roles in today's world, they're three to five years.
• 1:03:31
  SPEAKER_01: Oh.
• 1:03:32
  SPEAKER_01: And then they're moving to the next or they're moving out.
• 1:03:34
  SPEAKER_02: And that's a good thing.
• 1:03:35
  SPEAKER_02: That's a good thing.
• 1:03:36
  SPEAKER_02: The process is healthy and good.
• 1:03:37
  SPEAKER_02: Our goal from an insider being in the business to say, hey, there's a better way to invest.
• 1:03:42
  SPEAKER_02: And when we were in the truck this morning, you're talking about what's coming.
• 1:03:45
  SPEAKER_02: You're seeing patterns.
• 1:03:47
  SPEAKER_02: Money's changing.
• 1:03:48
  SPEAKER_02: The way to invest and be successful is changing.
• 1:03:51
  SPEAKER_02: Without going full on, I got buddies that are like, sell all your investments and buy crypto, you know, super passionate that there's one way to do it.
• 1:03:58
  SPEAKER_02: Right.
• 1:03:59
  SPEAKER_02: Uh I want to I want to say there's probably 10 ways to get to where you want to be financially, but there's probably some common themes.
• 1:04:07
  SPEAKER_02: How would you coach people up on?
• 1:04:08
  SPEAKER_02: Is it before you're 40, invest every dollar in yourself?
• 1:04:12
  SPEAKER_02: What what are some really practical next steps you'd get people?
• 1:04:15
  SPEAKER_01: Yeah.
• 1:04:15
  SPEAKER_01: So first, when you um don't get swept in to the algorithms of the world that are political parties left and right, and well, look at Trump, he's doing this, or Trump's amazing.
• 1:04:26
  SPEAKER_01: He but you gotta like understand the bigger patterns.
• 1:04:30
  SPEAKER_01: Yeah.
• 1:04:30
  SPEAKER_01: So, like, what's happening with Greenland as a good example?
• 1:04:35
  SPEAKER_01: Well, Greenland is uh it's the undoing of the old war uh order because World War II system is over, it's crashed.
• 1:04:43
  SPEAKER_01: So if you understand what's happening, it's the alignment of the new era.
• 1:04:46
  SPEAKER_01: Sure.
• 1:04:47
  SPEAKER_01: So play that game first versus getting swept into um political this and that.
• 1:04:53
  SPEAKER_01: So I love to see patterns in the future of what's happening, and then you go, okay, well, what will happen with money, tokenization, um, current, you know, blockchain.
• 1:05:03
  SPEAKER_02: Yeah, um paper money's going away at some point, all blockchain, no argument there.
• 1:05:07
  SPEAKER_01: No and understand that trend.
• 1:05:08
  SPEAKER_01: Yep.
• 1:05:09
  SPEAKER_01: Um, you know, I've been telling people don't go to law school.
• 1:05:12
  SPEAKER_01: Yeah, do not go to law school right now.
• 1:05:14
  SPEAKER_01: Now that's an opinion.
• 1:05:15
  SPEAKER_01: Sure.
• 1:05:15
  SPEAKER_01: You can, but I'm telling you, there's we just lost our Harvard law school sponsorship.
• 1:05:20
  SPEAKER_01: Thank you.
• 1:05:21
  SPEAKER_01: But but you look and understand the dynamics of like where where's the puck going?
• 1:05:26
  SPEAKER_01: Skate to the puck.
• 1:05:27
  SPEAKER_01: Yeah.
• 1:05:28
  SPEAKER_01: Don't don't play the don't be surprised because it's been laid out for you.
• 1:05:32
  SPEAKER_01: So understand the global shifts, right?
• 1:05:34
  SPEAKER_01: Sure.
• 1:05:35
  SPEAKER_01: Then understand who you are and where you are.
• 1:05:38
  SPEAKER_01: And then uh, I mean, for me, I'm fully in on AI because I understand the dynamics.
• 1:05:43
  SPEAKER_01: Like it or not, it is.
• 1:05:44
  SPEAKER_01: That's right.
• 1:05:45
  SPEAKER_01: So I might as well maximize it to see what's the best usage of it and how does that change the way?
• 1:05:51
  SPEAKER_01: And it has totally changed the way that I'm seeing the world.
• 1:05:55
  SPEAKER_01: Yeah.
• 1:05:55
  SPEAKER_01: So now I'm recalibrating my entire business.
• 1:05:58
  SPEAKER_01: So our business is going to move from O's and just um bigger companies and bloat it to um agents, and very, you know, whether they're actual agents like chatbot agents or the agent economy, like you're a freelancer, you're gonna be moving to X.
• 1:06:15
  SPEAKER_01: But the problem is like 30% of the population is gonna be forced to be an X.
• 1:06:18
  SPEAKER_01: They're not ready or not ready.
• 1:06:20
  SPEAKER_01: And they don't know how to do it.
• 1:06:22
  SPEAKER_01: So you can either go spoil milk, sour grapes.
• 1:06:25
  SPEAKER_01: I'm so mad, frustrated, and bitter and victim, or you can be proactively learning it now.
• 1:06:31
  SPEAKER_01: So, in the same way from an investment strategy, partner with people who see the future.
• 1:06:36
  SPEAKER_00: Nice.
• 1:06:37
  SPEAKER_01: Partner with people who have a system for it.
• 1:06:39
  SPEAKER_00: Yeah.
• 1:06:40
  SPEAKER_01: Do not partner with people who have your money stuck in old systems that are about to dissipate.
• 1:06:44
  SPEAKER_01: And will fight change.
• 1:06:45
  SPEAKER_01: That's it.
• 1:06:46
  SPEAKER_02: Yeah.
• 1:06:46
  SPEAKER_02: Yeah.
• 1:06:47
  SPEAKER_02: I think the, and we'll wrap it up here, that if your current advisor, you know, there's a chance I've coached them, hang out with them, friends all over the industry, feels stuck.
• 1:06:55
  SPEAKER_02: They don't have good ideas.
• 1:06:57
  SPEAKER_02: The answer to the problem is still the same thing they've been saying for the last 10 years.
• 1:07:00
  SPEAKER_02: There's probably a sense there, and I find some people have this trigger in them, they just can't put words to it until I meet with them and I'm like this, this, and this.
• 1:07:06
  SPEAKER_02: And they're like, Yeah, that's it.
• 1:07:08
  SPEAKER_02: Like it never felt fully right.
• 1:07:09
  SPEAKER_02: It always felt like, you know, I think that funnel feeling maybe we all have without being able to put our finger on it, that there is a better way.
• 1:07:16
  SPEAKER_02: The the better way is changing in front of us.
• 1:07:18
  SPEAKER_02: And my hope for all the advisors listening and the entrepreneurs listening is like that advice starts evolving too, that it's strategy focused, it's it's not product focused.
• 1:07:28
  SPEAKER_02: Because I think if you're stuck there, you may still make some money for a little while, but I don't not I don't believe that's the future.