Latest / Wealth On Main Street / 293:  Infinite Banking Made Simple for Business Owners

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293:  Infinite Banking Made Simple for Business Owners · Wealth On Main Street

• 0:00
  Speaker A: Foreign.
• 0:11
  Speaker B: Welcome to wealth on Main street, where conversations about growing your wealth are fun and entertaining. Wealth isn't just about money. It's the skills and the knowledge that we develop to pass on to future generations. Tune in each week to grow your mindset and your net worth at the same time. How exactly does the world of corporate training intersect with the infinite Banking concept? Well, we're going to learn a little bit about that today. We're joined by the incredible Troy Trelevan, who is a corporate trainer decades with the Dale Carnegie organization in Canada in the Ontario and Maritimes environment, working directly with business owners, senior managers, department heads, helping coach hundreds of companies and thousands of leaders. We're excited about the conversation today because not only do you have an incredible background and experience, Troy, but you've now forged ahead in a new area of your life, which is incorporating Nelson Nash's infinite Banking concept into it. And I think that there's this great overlap between what you recognize through all the work you've done coaching companies and businesses, leadership training, and some of the things that resonate in both the language and the application of the infinite banking concept. So excited to have you with us on the podcast today.
• 1:31
  Speaker A: Awesome. I'm super excited to be here as well. It's my favorite topic currently, is ibc, and I know, I'm so happy to talk to you and, and you guys have been such an influence, so it's been. It's been great. So, yeah, thanks for the opportunity.
• 1:46
  Speaker B: We appreciate it. And you know, we had a chance to connect here recently, have a nice little pow wow before we were able to book this session. And I. I'm just really intrigued if you can maybe share with our viewers. Walk us through how the concept kind of entered your life. You kind of mentioned it's your favorite topic these days, and it seems to be entering conversations by default. So let's go. Let's rewind the tape a little bit and get to the point. Like, where did this even become something that you were deciding to look into in the first place?
• 2:15
  Speaker A: Oh, yeah, yeah. Well, it really was as recent as the spring. And I, my brother and I, we have coffee together every. He lives in town where I live, so every week or so we get together in the morning for coffee, and towards the end of one of our conversations, he goes, have you read this book? And it was like, I can't probably see it, but it's that one. And he goes, I go, isn't that like, something that, like I said, I've heard of it, but I I said, I'm really not sure. And I remember years ago back, I think I was, oh my gosh, it should be back in, I think before my kids were born. So my daughter was born in 2006, so it was probably 2005. And I saw something online about how you could do your own bank.
• 3:01
  Speaker B: Right.
• 3:02
  Speaker A: And. But I, I remember the time calling up a friend at Canada Life who I worked with and I said, hey, can you. Do you know anything about like, you can borrow from like an insurance policy? He goes, well, yeah, but it's really expensive. What are you talking about? And anyway, I didn't, I just left it. And so anyway, so in the spring, my brother says, have you read this book? I go, no, I haven't. Well, I got in my car as I was leaving and I went on to I think a grok. And I, I said on grok, because I had the voice thing. I go, tell me about IBC Infinite Banking Policy, Nelson Nash. And because I couldn't read the book while I was driving over back to my house and so it's started explaining it and I go, oh, this is cool. And then I dug into the book and I think I'd had it read within three days. And I, and then I, I started going online and then, and then I found like a whole bunch of videos on it and then I found Ascendant and then checked in and then I got talking to some of your people and so that was my, that was my first introduction, so. And since then it's just been crazy. Been fascinating for many in my sphere. Right, so.
• 4:12
  Speaker B: Right, yeah. Well, I love the first of all. So shout out to your brother for, you know, obviously thinking enough of, of you to, to mention the book. He, he must have got the copy somewhere. So that's kind of cool. And you guys are probably forging ahead a little bit, kind of, you know, obviously meeting for coffee regularly. You're, you're kind of co learning and embracing this a little bit, I'm guessing, along the way. Is that, is that, am I getting that correct?
• 4:33
  Speaker A: Yeah, totally. Totally. Well, Jeff, like, he's, he's been like in pharma sales a lot of his life. And so, and he and I always talk, you know, business and money and, and he's worked with me like off and on, like in coaching and that kind of thing. And so we always are sharing ideas about money and investments and things we've done over the years and we've done real estate projects together and things like that. And so yeah, money comes Up a lot with family. And yeah, we got talking about that. And so, yeah, so now we, that's. Every time we, we're together, we're always talking about that. And yeah, so he's very much into it.
• 5:16
  Speaker B: So, yeah, very cool. I love that. That's a great kind of a bonding almost area for you guys to, to continue a really cool part of your relationship. Now you mentioned that of course, you had a little bit of the, you know, we talked before we hit the record button about the Colby index. You mentioned that you also are an initiating quick start, like I am. That explains why when you got to your car, you had to get Grok to assist you so that not only could you be on the road driving and doing something, you could be filling your brain with what was most current in your mind. So it's kind of cool that. That sounds like Grok gave you some interesting pointers that, that wanted you to get. Get further. And then you, then your next step was that you kind of went to, you know, Uncle Google and you started typing in some stuff and that led you to YouTube, because YouTube and Google, kind of the whole combination there. And so you probably saw a lot of different things and at some point you circled towards, you know, the, the, the ascendant kind of sphere. What would you say took place between, you know, first kind of Google entry to eventually landing on like an ascendant video? What happened?
• 6:17
  Speaker A: Well, the getting on the YouTube videos was like, you got a lot of stuff, obviously there's a lot of, I think American stuff. There's lots of different combos. You see people talking about online and things like that. And I said, well, I definitely want Canadian, like, does it work in Canada? Like, that was my first thing. And so, so I think searching Canada, like, obviously ascended comes up. I think you're the preeminent player. And. And so I said, well, that definitely is. I want to start. And so I, Yeah, so, but I, I like spent like probably deep dived on it very much for a bunch of days in a row. And. But yeah, the, the ascended stuff came up most credible, wasn't hyped, but was, I think the integrity I, I saw like the, you know, going back to Nelson Nash. His name comes up everywhere. But you guys seem to have the most credibility from everything I was seeing related to that. And so I said, well, I'd rather go to the source than just kind of like my, you know, Dale Carnegie is my company. So Dale Carnegie is like, go to the. Oh, gee. Right. And so that's a Kind of, I think why I probably weigh ascendant. It was one that emerged first anyway, so that was the one that I really wanted to talk to at least.
• 7:42
  Speaker B: That makes a lot of sense. I mean really, the, you know, the fact that you've spent so such a, a career time frame with the Dale Carnegie organization and everything that happens there. And like you mentioned the, the og I mean, he's so well known even though he's long gone, that the legacy left behind. And so in a, in a similar light, that's kind of where Nelson Nash is, at least to our micro community. And we're, we're looking to expand that. So I think there's a, there's an automatic kind of bridge there between what was already true for you and going on in your life. Because I'm sure you've been to corporate events or training events where there's people doing things that are almost kind of, you would might say out of the Carnegie plague book a little bit, but maybe not providing homage to the person who really was the, the, the pioneer of that work. Right?
• 8:28
  Speaker A: Yeah, no, that, that's like dale Carnegie was 1912 when it first started, when he, he started as like training business. Well, no, he's businessmen because it was just how it was. And then it, and then it was on public speaking. And he quickly realized that it wasn't speaking these people wanted, it was confidence that came from speaking and it was how do I make my ideas clear when I'm trying to sell something or lead my team or. So he very quickly evolved the program and then, and then he started growing, started in New York City and then it spread all through North America and then across the world. And so, yeah, so everybody probably got their start. Like all the big names you've ever heard about have done a Dale Carnegie like Tony Robbins and Zig Ziglar and all those guys. And Nelson Nash, I noticed in Warehouse of Wealth he did the course. And so it's like kind of in the DNA if, like how to Win Friends Influence People, the book he wrote in 1936, that came out of listening to thousands of people in the courses, like for since 1912 to 1936. So it wasn't like he had a theory or something. Let me test this. It was more like he just heard this works with people, this works leading people, building rapport and all that. And so it became like a, the kind of the heart of everything. So everybody you see today quite often had their roots in Dale Carnegie. So our course is still very unique. Like it's not. It's really hard to duplicate for lots of reasons, and whether I talk about today or not, but it's really unique in that still can't be duplicated, which is unusual.
• 10:13
  Speaker B: So I agree, like, you know, having spent a fair amount of time with Nelson before he left us, he was a. He was a very unique and very prominent individual commanding a room from a speaking leadership perspective. But he did it with such a. Such a joy and a. And an integration with the room. It was really kind of wonderful to, to be a part of and experience. And I suspect that, yeah, a lot of that came from things he learned on, in his youth. And, you know, Nelson, he would tell a story about when the Strangest Secret came out by Earl Nightingale and he had, you know, the. I can't remember, it was a record, I think, that he got originally. And he said he wore that thing out and he was at a point where he had it completely memorized and like, he just had it on repeat the whole time. And so earlier in his life, he was really trying to build up those skills and that knowledge base and stuff. And he, he would always joke, he says, well, you know, it's not entirely true that you, you can become whatever you. You think about all the time, because if it were really 100% true, then, you know, men would become women. That was a line that he would use every once in a while, one of his sessions. Right. So, no, I was. It was so much fun to kind of be around him. And so I do think that there's this cool overlap and it's, there's something about what's within the roots. It's kind of like what you indicated, you know, what's the roots and the core of the Carnegie Organization and how everything stems from these pioneering ideas. And then, and then, and then it's also a grassroots expansion of a leadership concept that's really, you know, again, globally now, all over the place. And so similarly with Nelson, you know that the, the subtitle of his second book is A Grassroots Method of. I think it's ending the, you know, of a result of fractional reserve banking or something like. Ending fractional reserve banking.
• 12:08
  Speaker A: Yeah, yeah, right.
• 12:09
  Speaker B: So building your warehouse of wealth. And so Nelson really believed that this process that we. That we're embracing and that you and your brother and your family are now embracing is a way to be both. Be, you know, personally profitable, protected, and to separate yourself from a system of kind of overt control around the monetary supply. So that you were rooted in this individualistic area that allowed you to be part of the solution versus part of the problem. And the problem specifically we're talking about here is like is manufacturing of the money supply which happens in the commercial banking sector. Not to go down a fractional reserve rabbit hole. But our listeners are already familiar with that. So.
• 12:55
  Speaker A: Right, okay. No, it obviously resonated for all those reasons because yeah, I think it's as you said, like an individual, individualistic mindset. Like a freedom kind of mindset. Like this is how do I become free of the. We didn't, we don't see it. Right. You can't see the problem.
• 13:16
  Speaker B: Right.
• 13:16
  Speaker A: Until you see it. And then so I found it was just synced with everything that I believe and everything I care about. And as an entrepreneur, like I think I've heard this in other of your videos, other entrepreneurs saying I think I get it faster than the average person because when you run a business like you, you really see the value of having access to, to capital when you need it and it's always so expensive. And as a business owner, my whole career like it's always been so hard to you know, get access to money from a bank or something. You haven't been an employee. Right. So it's like always like could it make it easier and. But I totally missed out on how much money over the years I'm putting to banks and finance companies and, and, and Covid was super hard for us. Right.
• 14:07
  Speaker B: Like we, yeah, based company, you know.
• 14:11
  Speaker A: Yeah, exactly. We had to leave hotels where we were running classes and stuff. We had to go right online and here it hurt, it hurt us like we, we weren't fully prepared. We made it through thankfully and you know, we did have to take some things from the government that we've paid back thankfully. But I would never want to have to go through that again. And so for me, I really want, I want my company to be well set up in with the IBC concept and I want my clients who are business owners and senior leaders and everyday person to know about this because the sense of peace and freedom. I was just saying to my brother, actually we had coffee this morning, I said I got to tell you, like I've had such a sense of financial peace since starting my policies and it's just going to increase as things go on and on. And so yeah, that's, that's, yeah, that's where I'm at. I don't know how we got there exactly.
• 15:21
  Speaker B: Nelson would always say it, what a peaceful, stress free way of life it is when you get the banks out of your life.
• 15:26
  Speaker A: Yeah, yeah.
• 15:29
  Speaker B: And it's interesting, there was this experience that, I mean, I wasn't there, but he would tell a story. He went to, I think it was Austria and he was going to an Austrian economics event with the Mises Institute or something.
• 15:44
  Speaker A: Okay.
• 15:44
  Speaker B: And this was, he actually went with another colleague of ours, James Nethery, who was there, who has the Banking with Life podcast. Shout out to James. Amazing guy. I love James. And they were in the, you know, hotel lobby like having their coffee in the morning with their continental breakfast or whatever they had. And over the previous night on the news, on the tv, it was talking about like this massive meltdown from the financial markets during the global like financial crisis.
• 16:09
  Speaker A: Yeah, yeah, yeah.
• 16:09
  Speaker B: And Nelson just sat there sipping his coffee.
• 16:12
  Speaker A: Huh.
• 16:13
  Speaker B: Last night my cash values went up. You know, that, that, that was the summary of the statement. You know, like, what more do you need to say? And so, so that, that is a peaceful, stress free way of life when you know that that's, you know, it's a, it's a not, it's not a wish and a hope and a prayer. It's a reality.
• 16:31
  Speaker A: Right, right, right. It was funny you said that because just moments before we, we got talking today, I was checking stocks and this will make this. Who knows what will happen by the time somebody's watching this. But it was today, the S P at its highest level. And I, and I, I thought to myself ago, you know what? My, my policy hit the highest level today as well. And tomorrow it will be, and tomorrow will be another one. And so I laughed at it because usually I'm. In the old days, I would have looked, say, oh, where are the stocks today? And oh, you know, it's. I was up and down and getting older. I realized, okay, I know they're going to come back eventually. That's least. The theory has always been what they say so far. But I wouldn't be too. But it's unlike anything else having a policy like this because it's just better and better and better every day. And that's not like I didn't think the real world was like that. And so when I found the concept, it was like, no, this can't be right. My wife and she's going, are you sure? Like, and so it took a while for us to both get our heads around. Yeah, it's legit, but it takes a, it's not normal. And nobody's talked. Well, nobody I've talked to before, knew much, knew anything about this Right, right.
• 17:46
  Speaker B: Well, they won't be saying that two weeks from now because you're, You're. You're not holding the information in. You're. You're making sure that you're. Spread the word a little bit. So I want people to know. Yeah, yeah, I appreciate that. Now, you know, just, you know, circling back to your experience. So you, you did some of the initial work, the education, you got the book. You read the book. Yeah. Grok summarized it for you. You got some YouTube videos in. Yeah, I like how you said you did. You went deep for like three days, which for everyone else, that's like the equivalent. So a quick start going deep for three days is like the, the everyone else going deep for like a month, in essence, you know, in time equivalency. And then eventually you got connected to a member of our team. So you get to work with the amazing Liz Wall, who's an unbelievable everybody. She's just absolute heart of gold. And so you were able to get connected with her on our team. And so walk us through, like, what was the experience from your vantage point, having so many years, you know, decades in business dealing with business owners exclusively and leadership style. I'm just curious, what did you recognize and notice about the process that you kind of went through to eventually get on the other side where now you're embracing this concept and you're actually able to start participating in it?
• 18:56
  Speaker A: Yeah, well, the first step, as I remember, professionally booked an appointment with me, right. And so, so my wife and I, we got on the. The call with Liz and she said, so how did discover it? And what got listened carefully to what we were saying, and, and I was at that point going, okay, so, like, do you got, like, a form for me to sign or something? And she goes, well, I know I'm going to go. And she goes, well, she says, have you, have you read the book? I said, yeah, I read the book. And she. I said, I watched a ton of videos, too. She goes, well, something about like, no, this was before even. She got us to, like, figure out our finances and stuff. It was the meeting before. Oh, she said, can you. Have you watched Nelson Nash's documentary?
• 19:44
  Speaker B: Film.
• 19:45
  Speaker A: Documentary? And I said, no, I said, that sounds good. And so that Friday night, my wife and I, we turned on YouTube. We're watching it, and one of my daughters comes home and they get her and her boyfriend go, what are you guys doing? Oh, we're watching this video on Nelson Nash on a Friday night. This is. We're loving it. And Right. It Was like, you guys are nerds. And we go, no, we really like it. And so. And my wife is going, this guy's like, got great integrity and all this kind of stuff. And so it was, like, really good for me because I need her on side for ideas like this. And so, yeah, so she was really. She was really all in. And then I think the next time we told Liz that and we said, can you send us a few more videos? We want to, like, fill up our Friday and Saturday nights with some boring. Right? But so she kept loading us up with videos. But then I think it was a meeting or two later. She got us to, you know, look at our situation, you know, like, our financial situation, where we had debt and where money was going and all that kind of stuff. And then carefully analyzed it with us. And then later on, like, it was not, like, I kept waiting to say, like, okay, can we, like, sign? Like, where. How do we. How do I put my. My money down? And. And. But it was, like a very much zero pressure and. But still very compelling. Like, it was like I. I felt like I wasn't definitely not being rushed. It was very methodical in that we want this to work right for you. This has to be customized to your life. Not there's not one size fits all, which I thought there might be. Like, it's. Isn't there just a. And so she made it very clear to us. And then I got starting with two policies. So the first one, I have a corporation that I own my shares in, my Dale Carnegie Corporation. That's another. And so we did one on that, and then we did one in our. Our personal self. And. And so. So that was good. And yeah, so that's kind of how we moved into it. So that was.
• 21:55
  Speaker B: Got it. And then. And then once you went through the application process and the approvals and all that sort of stuff, got your first kind of premium paid, then you had an opportunity to now kind of step into. We'll call it, the next phase of your journey, which is where the real learning begins. And so what were some of the things that you recognize you started to get access to or were able to tap into once you kind of got into that zone where now you actually have a policy and you're ready to hit the ground running?
• 22:21
  Speaker A: Oh, yeah. I was psyched. I. I went to the portal, and the portal, the ascendant customer portal, is, like, amazing, and it's got, like. It's like a candy store of. Of ideas and inspiration. And it's funny, one of Your videos on how to track your policy. I don't know what you call it.
• 22:42
  Speaker B: But yeah, doing the amortization and everything, setting up, you know that it, the.
• 22:47
  Speaker A: Well it was the one actually. Yeah.
• 22:50
  Speaker B: Okay.
• 22:50
  Speaker A: So I think a few days in I, I got a. I, I did apply for a loan. Right. So.
• 22:55
  Speaker B: Right.
• 22:56
  Speaker A: And I got it obviously. And so, so I used it and I moved it into some things I needed to move it into. But then it would know it was the one about where you, so you, you look at your like on the equitable site where the values are and you plug in the values and so daily you see where your. Yeah, yeah, yeah. And the loan availability and everything. And so I still like do that religiously. I bet I'm gonna stop it soon. But I. Every day it's like the way I start my day as I go and I, I update myself just because it's so cool to watch, you know. Like I say it's every day, it's growing every day. And again seeing that and it's just a, A great practice and so the whole portal has been great because I'm looking forward to doing some, you know, creative things around ways to, ways to use the policies and ways and investments I can make and want to do different types like hard money lending, do some more real estate even you know, some dividend paying stocks. You know. Jason did a great video around that and so things like that like I really like seeing. And then. Okay. And then it was like became more clear. I think it was reading was it was one of your books, the I think Canadians guide to Wealth Building without Risk. I really started opening actually was before I read it but this made it come clear to me. My wife and I really got the idea of family banking and so that was like, like how could we now get our kids? We have four kids and so how do we now set them up? And they're all young adults, like they're all right. And so like 18 to 23. And so how do we help them? And so now it's like even more purposeful if that makes sense. Like it's like now it's about how do we make sure that we building this warehouse of wealth that we can all share and help each other out. And yeah, I am. I got some years left of course but in terms of them, they got so much and I just want them to have that peace of mind that I never had through those all those years. They're gonna have it. They don't even know they need it yet. But they're. They're gonna definitely benefit from what we're setting up and what they're going to continue to grow and all that. So that family banking part of it was not the initial draw, but I think now it's probably. It's the. The goal, it's the purpose, it's the. The spiritual part of it in a way, like, it's like there's a bigger thing leading this. Right. So bigger than us.
• 25:52
  Speaker B: It's got you more connected to the activity of the doing because of the value of what the doing creates for everyone around you.
• 26:00
  Speaker A: Yeah, that's it. Yeah. Well said. Yeah. Yeah.
• 26:04
  Speaker B: It's interesting. There's a couple things you mentioned, obviously, watching the documentary films. Thank you for mentioning the documentary film. If anybody wants, you can go to Nelson Nash Film. That's Nelson Nash film.com and you can watch that there. It's only one hour long. And so I always would say that Nelson is the wife whisperer. Right. So in a spousal situation, if someone's on board, someone's not on board because, you know, when. When somebody got the book and did the grok request before. So. So we always encourage people to sit down and watch with your spouse that documentary because it doesn't explain how the concept works necessarily, but it does explain you how it got created and why it's important and how Nelson. Nelson was as a human being around people. And so just to tell you a quick story, Troy, for me, it's hard for me to watch that without tearing up, because other than I miss Nelson. But also, there's a. There's a scene where he's signing books and he's actually signing the book to my daughter in that. In that video, in the documentary film. It's her name, right in the book. And so I have that book. My kids both know they have a signed copy of the book from Nelson. They know who Nelson is. They. My son met him when he was six months old. I have pictures with Nelson and my son. They aren't going to get that experience, but they know he's important and they know the book is important and they know they have one. They also know they won't get it unless they prove that they understand what's in it. So it's. It's set aside for them, but they're not going to get it unless they do certain things. They don't even know what those things are. It's not like there's a list of stuff that I've got pre. You know, a checklist necessarily. I have some of it up here, but it's about helping them be connected to what we want that family unit to be like. When it comes to the cycle of our money rolling through the family environment, I think that's really kind of what you're talking about, that resonation of the family banking model. And then, you know, additionally, you talked about, of course, all the resources available in the Ascendant, you know, membership site and you highlighted on a couple. But there, there is, there's, there's this continual. It's kind of like a buffet menu. So sometimes you show up to the buffet and you're like, oh man. Like, we got the salad bar, we got this over here, we got an ice cream machine. Like there's all these bonanza, right, all this stuff here. And you want a little bit of everything. But the key thing is you get to choose. You know, do you want the healthy stuff? Do you want the not so healthy stuff? Do you want more sauce? And so that's kind of what the Ascendant membership site is like. You know, the podcast and the Bankers Vault channel, we got a lot of content and it can be overwhelming for some people, but you get to, you know, how do you eat an elephant One, one bite at a time. So you have to chip away at your own schedule. Now you would have received probably when you got set up, a 12 step guide to getting started. You remember getting an email with something like that.
• 28:41
  Speaker A: Yeah, yeah, yeah.
• 28:42
  Speaker B: And it kind of walks through the first seven steps you do in like 30 minutes. It's like setting up your bank account, you know, basic things. Yeah. But then it kind of walks through a recommended learning path for the first 90 days and then it kind of goes, okay, here's the next six months and says you need to be committing, you know, about two hours a month roughly to your learning, at least in this timeframe. And then, you know, that's sort of the idea. And it's all about continual and constant growth. I think very connected to that same Dale Carnegie leadership model. Like, we're always growing, we're always curious. That's one thing I really appreciate about you, Troy. You're a very curious guy, I can tell you. You like to learn things. You know, there is an excitement around learning. So there's so much potential ahead of us. And, you know, there's things you're going to learn about the concept that I won't even know because it's going to be unique to, to you and you're going to share that amongst Your family. And then when we have our quarterly group coaching sessions. Have you attended one of those yet, by the way?
• 29:33
  Speaker A: Not yet, no.
• 29:34
  Speaker B: No. Okay. I can't wait. Those are great. So make sure you get on one of those.
• 29:37
  Speaker A: Oh, wait, a quarter. That's like on a Saturday.
• 29:39
  Speaker B: Yeah, one of the Saturdays.
• 29:40
  Speaker A: Online. Yeah, yeah, yeah. Not in person yet, but I. The online ones.
• 29:43
  Speaker B: Yes, the online ones.
• 29:44
  Speaker A: Yeah, yeah, yeah.
• 29:45
  Speaker B: And so those are fun because you get to see other people, you get to connect, and there's questions asked. The chat box just goes like bananas.
• 29:51
  Speaker A: Amazing.
• 29:52
  Speaker B: And. And there's good. Questions are good in action. Sometimes if we have enough time, we do some, like, breakout rooms in the Zoom where you can get in smaller groups and ask about, you know, you get to have a chance to connect with one another. And so there's a. There's a bonding experience that happens there. And you know, when. When you're embracing Nelson's concept and then you walk into a room and all of a sudden you start talking about whole life insurance. Like, you can very quickly be ostracized on the outside of the circle of the group of people. So, you know, you won't. You don't want to be a lone ranger. And that's part of why we want to embrace bringing people together in as many environments as we can so that we're. We're able to be connected around not just the same language, but the same elements that we're all embracing. We might have different financial makeup, different financial challenges, but we're all trying to control the banking process as it relates to our needs, and that's really what binds us together. And then doing something of value for the people we love and care about, which is our family.
• 30:49
  Speaker A: Yeah, no, that's. That's so true. I've also found value in the lunch and learns on Fridays a few of those and. Or I watch the recordings of them and it's every time, like, as you said, like, a new insight goes, oh, my gosh, you can do that with it. You can do that with it. And it's truly the infinite thing. Like, it's. Yeah. I don't want to say it again, but it just sounds. It's just so much in it that you never get on us. I still. So early, I look at somebody like, you've been doing this for so long, the things you would have understanding about this. But yeah, it's. That's what I want my kids to see, is that you're gonna have so many choices as you use this and think about this and, and getting my kids to read the books. Little challenging, sometimes boring. But I said, well, okay, watch this video first and then let's talk through the book as we go through and show them the illustration of like a student or something. And this is what. If you put your money in this instead of that, it will.
• 31:55
  Speaker B: What it'll create for you. That's one of the reasons we put pictures in our first two books so that we could. You had. You had different ways of learning it. A little bit shorter. It's not replacing Nelson's book. It's just like, here's a different way of assessing the information and maybe a shorter package, a couple of visuals to help see not only some of the problems in the world, but like how solutions can be those things. And that was kind of the intention of those. So I'm really, I'm really proud of those. And of course, our most recent book, Shout out to growing your own capital with my man Dan Allen, which we, we launched just recently. A lot of great feedback we're getting from that book already. And while it's written for farmers and ranchers, all of the elements of it are still the same. It's actually very good to just take the word farmer and rancher out and insert business owner because the. The same elements really do apply quite effectively there.
• 32:46
  Speaker A: I'm looking forward to getting that one for sure. And yeah, I love the idea. I think I heard Nelson talk about cow chow.
• 32:56
  Speaker B: To be growing your own cow chow. Yeah, that was the inspiration for our book. That was literally. That one line was the inspiration for the whole book. Yeah, I remember. So when Nelson, that. When that little clip that you saw when that was recorded, I was in the room for that. And because we were. We were recording for the documentary film and that was. That scene was recorded in David Stearns's house. We had to come and move all the furniture around. We had cameras set up and stuff. It was such a cool. We recorded there for, I think three days. And then we recorded some at the Sheraton Birmingham hotel. And then we recorded in Nelson's house in his office. And I think we hit one other location. And so, you know, the. The documentary film is one hour and it's got a ton of stuff in it. And then there was this whole treasure trove of other stuff that never made the film because you have to, you know, cut it down. And so thankfully, and we're extremely grateful for David Stearns, the Nelson Nash Institute, you know, Carlos Lara and Lee Beringer, who now is David's Nelson's granddaughter, she works now with them as well, is that we were able to, you know, they were agreeable and we were able to coax all that stuff out and start getting it pushed out onto YouTube. So all that content that was sitting there for five years of Nelson is now available. And it's, it's all these bits and pieces that we recorded that never kind of made the final film are all available. And it just warms my heart to know that I, I can, I can go and watch and reconnect with Nelson in that moment in time and any 24 7.
• 34:30
  Speaker A: Yeah. Oh, that's got to be a treasure. Yeah. You see, I know the clips you're talking about that weren't in the, the original movie, but I'm seeing them a lot. And then how much. I don't know how long you guys must have interviewed or how many times. Like was it that one time mainly or was it like many, many times?
• 34:51
  Speaker B: We went down to bir for a week and I mean we, we basically recorded for five days. You know, maybe not straight, but we were recording for five days. You know, we spent, we probably spent three and a half, four hours at, maybe five hours at Nelson's house. We stood three days at David's house. Those were, you know, like, like five, six hour days of recording. Now the tapes weren't running 100% of the time, but they were running for like two hour blocks because Nelson would just go, he wouldn't get up and stop, he would just keep going. He would just want someone to bring him a coffee. Like other than that, he, he would just keep going. He would say, well, all right, what's next? You know, he would do the next thing. He was a machine that way and he, you just never knew what he was going to say. He kept things very consistent and he never deviated from his message. But it was in what we refer to as Nelson isms, where it was the, it was part of like inflection points, but also just the little almost what you would call like throwaway jokes where he would just insert something in and. But when he did it, it also made like a new point. It was like a new connection point to elevate the, elevate what he was discussing at that time. So the idea of growing your own cow chow is like you gots to be growing your own cow chow. Because you know, if, if we were farmers and you had cattle and you weren't growing your own cow chow, I was buying my cow chow on the open market. You'd laugh me out of the, you know, laugh me out of the coffee shop. Right. So. So he would make these kind of connection points and, you know, he, he used it, he would always say this, that, you know, he was, he was sending books out to people in, you know, the last kind of. He would always send books, but in the last year of his life, he had a lot of them. He was extremely well read. And he would, you would all sudden get a book in the mail from Nelson.
• 36:37
  Speaker A: Wow.
• 36:38
  Speaker B: And I mean, he wouldn't to send it himself, but he would ask someone to send a book. Sure. And usually came with a little note. And I remember the last one I got from him, I remember I was driving. It's interesting. I was driving. I was still living in Sherwood park on my acreage, and I was driving to the community of Sherwood park. And I was driving past some fields and so there was cattle in the fields and there was some like, you know, grain or whatever. And I'm driving by, having this conversation on the road with Nelson about the book. And he says, well, you know, Richard, I'm just, I'm just finding high quality seeds and I'm looking to plant them in fertile soil. And I think you're fertile soil, you know. And that's how he would, he would make points about stuff. He says, well, you know, when you plant corn, you're going to get something else. Weeds. And if you don't take care of them weeds, pretty soon they'll take over your field. But if you do take care of the weeds, the corn stands out like a sore thumb, you know, and he would say, so you, you gotta, you gotta make sure you're keeping an eye out for all the weeds. He was talking about mental weeds. How are you cultivating and pulling the mental weeds that build up in your life right now? If that doesn't have a little. A little Dale Carnegie stitch to it attached, right?
• 37:50
  Speaker A: Oh, yeah. No, it's all about your. Yeah. It starts with your mind. And we're. When we're. We have something called the cycle of development. And it's. If you're going to improve yourself, you got to start with your mindset, your attitude. Do you see the need to change? Do you want to change? Do you think you can? Right then, knowledge, right. If you have your attitude right, this, the soil is right, the knowledge can be the seed. And if you implement it and practice it and water it and nurture it, it'll grow like it's predicted to grow. It's going to grow like in almost every case. And then you'll get the result and then you can keep replanting the new seeds that come out of it. And I, yeah, I find that tremendous. My brother and his grandfather was a dairy farmer and he, I remember as a kid back in the 70s, he built these two big silos and they were the biggest in the area at the time. Harvest store, I remember. And. But he was this real great business mind and I wish I could talk to him now about, you know, why he did it. At the times, I didn't appreciate it, but that was his thing. He have these, he. Lots of land and he'd take all, all the feed and put it in there. And he was, he did really well. Became very wealthy because of just good common sense. Recycle your own cow chow rather than buy from the market.
• 39:13
  Speaker B: So. Yeah, well, it's. I'm so glad you brought that up because. So in the new book growing your own capital, we, we literally use an example about the family grain bin. And this all kind of stems from. Again, shout out to Dan Allen, who's, you know, the, really, the, the primary core writer of this book. And the idea of the family grain bin, you know, why do, why do farmers have a grain bin? Well, or, or the silo. Well, it's so that you, you can take this large harvest, whatever it is, you can stockpile and store it and protect and preserve it. You're protecting it from like vermin, the elements, all these things. So you're protecting it and then you need it stored so that when the time is right, you can use it. Now you might store it because you can't sell it in the open market right now because it's a bad market time. Market price is low. So you're actually going to sacrifice the family and the whole harvest. If you sell it at a discount price, you might have to sell a little bit, but if you can stockpile a whole bunch, that market price is going to come back up. Now you can go throw it out in the grain truck and you can drive it out and sell it on the market. So you can control the timing of when you do things. When you have a proper storage facility, a warehouse, right? That's really what the, the grain bin is. And then, and then additionally, you know that, that grain bin, you fill it, but then it's going to start draining down, okay? So you can use it for your own feed, for your own animals, your. On your own farm purposes, okay? So you can use it yourself. You can sell it on the open Market, you can control the timing. When are you going to use it? When are you not? It protects the, it protects what's inside from the elements, you know, it's efficient, etc. But now it's draining, it's draining, it's draining because you use it well, eventually it's going to empty. Well, if it empties, you can't use it anymore. So you have to make sure you're putting more in. You gotta, you gotta refill it from the top, you gotta get the hopper going, you gotta put some more in there. So that is the cycle of capital flowing through the family's life. And so we have the family grain bin now and that's really another reference point. Again, this whole model, it stems from Nelson. He maybe didn't isolate it or iterate it that way, but we're just taking what he's given us and we're putting a, we're putting a new analogy attached to the, the, the, the thing that he's shown us how to do. And I think it's very relatable not just to farmers, but anyone who's grown up on a farm understands what that purpose is. You need a warehouse for these things and there's a reason why they exist. If, if they weren't valuable, you wouldn't see them all over farms when you drive out in the country, right?
• 41:48
  Speaker A: Oh yeah, it's. Love that analogy, man. It's tripped me out now how I see that connection and yeah, now it even makes more sense as to why my grandfather did it and how, yeah, don't steal the peas. And also I just thinking about the idea of maybe sometimes there's a bumper crop, right? What is it like a windfall, right, that then you place to store it, right. That bumper crop back to your.
• 42:15
  Speaker B: And if you don't have enough grain bins, but you had a bumper crop or you expanded your holdings, what do you need to do? You go and buy another grain bin so that you can fill up and preserve more for the next time that you need it. That's, that's no different than, okay, it's time to go get another policy. We're going to increase the size of the family system. It's exactly the same.
• 42:36
  Speaker A: That's so awesome. Yeah, I love, I love it.
• 42:39
  Speaker B: Yeah, it really is a good visual, but it's also very accurate and concise to what happens in a typical farming operation and really what happens with our money. It's just that people aren't looking at their money that way. So really what Nelson's done is he's. He's unveiled kind of like a shadow around how people keep their finances in these little boxes. And they look at them in these individual little components, but they don't look at them in a holistic environment. And they're not looking at the flow of money. They're looking at what do I have left over and how am I growing it rather than how is it flowing through my life and how efficient is it? Can I make it more efficient so that I can have more to grow?
• 43:17
  Speaker A: That's the mind blowing idea, right?
• 43:20
  Speaker B: Yeah. And none of that shows up in an illustration that you saw, did it? Try.
• 43:24
  Speaker A: No.
• 43:24
  Speaker B: No.
• 43:25
  Speaker A: Right.
• 43:25
  Speaker B: You needed to look at an illustration and Liz did a great job walking you through how it works and the mechanics.
• 43:30
  Speaker A: Yeah.
• 43:31
  Speaker B: But when it all comes down to it, is that what really mattered?
• 43:34
  Speaker A: No, that's right. That's not what really matters. Yeah. It's the, the day to day and the amount of interest that I've been paying all my life to things. I never knew there was a choice. Right. I never knew there was an alternative to it. And recapturing that is just. Yeah, it's just like a new idea that never. How would it cross your mind? And that's why I want people to know about this because like poor people who are going through their lives right now just probably just they don't know there's another way, a better choice. And if they started building some grain bins in their lives, they could just recapture all of that interest and.
• 44:17
  Speaker B: Yeah.
• 44:18
  Speaker A: And just be so much more peaceful.
• 44:19
  Speaker B: So.
• 44:20
  Speaker A: Yeah, it's real.
• 44:21
  Speaker B: Love it.
• 44:22
  Speaker A: Well.
• 44:22
  Speaker B: Well, Troy, what, what would you share. What would you share with somebody who is, you know, they're like you, somebody handed them a book or, or, or they're just. They've just randomly showed up on this podcast video and they are hearing this for the very first time. We just showed up in their feed. What was it that you would want to share with that individual about this process or this concept that you think would be the. The most important thing that they need to know right now about delving deeper?
• 44:53
  Speaker A: Okay. Yeah. I would say take the time to go deep with it and talk to somebody who knows. Don't take any preconceived ideas you may have heard about whole life or anything like that, because I probably had some of that in my background and I. And put that aside for just a few moments and really start seeing the potential of what could be there. And talking to somebody is probably the best way to do it. But definitely your research. Like if you don't read the book, like the book, I would say take an afternoon and go through it. And, and I, again, I read it like all the time. I got to play into my car just, and every time I get a new insight and it's, you gotta just, I would say to all my business owner friends, all my senior leaders that I work with, any and all the people that work in the clients, my clients that I get to work with, like, do, do a deep dive on this. This is not an investment. And I know and sometimes maybe go, oh, I want to do investments. You do, and this will help you do investments better. This, that's like get that tailwind going for you because, and then if, if you think this is dumb, come talk to me because. But I, I really know that if you do the right research on this, it will absolutely get you what you want. It'll make you feel really good. It's going to give you a big future, your family a big future. And you might not even think about that part for now, but just, it's going to help you more than anything. And I want everybody to know about this like yesterday. And so I, I'm, I'm building it into our system when we work with clients as a way of somehow getting this message across. And you can still invest in real estate and businesses and stocks or whatever thing you're interested in. And this is the way inventory, equipment.
• 46:58
  Speaker B: Marketing dollars, whatever your business needs. Yeah, I was chatting with a guy today, awesome guy who's got a millwork business, you know, cabinet installation business, doing great. He's got some great top line revenue, gross margins are, you know, greater than 25%. He's got a good team of people, he's doing really, really well. And you know, we're talking about embracing this, you know, for his, for his business. Had his accountant on, which was awesome too. So he made the accountant, he's actually in the middle of a shift. He said, he says, I, I, I'm choosing a new accountant, but I won't work with anyone that hasn't read this book.
• 47:28
  Speaker A: Oh, I love it.
• 47:29
  Speaker B: So he, he made the account, read the book before. And so he joined on the call today and he validated and confirmed everything I was saying, which was a lot of fun. It's a really good meeting. But talking about, you know, inventory and, and, and capital cash flows running through, it's like, look, every time you have a job, you're gonna have to go and pay for new cabinet doors and you Know all the stuff that you need to do and install. Well, the. But the money comes in, you get a deposit. It doesn't immediately go out right away to go buy that stuff. You're waiting for permits or for this. And, like, the job site's gotta be ready, you know, so, like, you have this period of time where money is sitting there. Maybe not all of it, but a chunk of it. How can we optimize that at these. You know, if that's happening in this cycle, throughout your business, month to month, month to month, how much of that can we control? The energy and optimize it to do more for your family before it leaves the business? And that's an area where we can spend a lot of time with people, which is super fun for me because, you know, there's always something new to learn. And every time I get to meet with someone and I get a chance to look at, you know, look underneath the hood of what's going on in their financial life, and their business is like, oh, my God, like, there's so many cool things that we can do here. I don't want to, you know, bamboozle you with all of them, but, like, let's take a look at these two and let's see if we can optimize here. And if we can optimize here, then maybe we can add in other layers as we go. You gotta do this. Get practice, get some reps, get better. Boom. Let's add something new. Do this, get better, add some reps, bad practice. And it's just like you're. You're like, leveling up little areas of your life, adding little efficiencies along the way.
• 49:03
  Speaker A: Yeah. Oh, I love that. Yeah. And. And that's what the coat. Like, that's what Elizabeth does, is like she takes us through step by step and just little things. And the coach is so valuable in this process. You can't do without a coach. I don't think, like, you eventually want to do. It's. It's your bank. But I mean, like, you need your coach to. To guide you through it.
• 49:22
  Speaker B: So.
• 49:23
  Speaker A: No, I. I love that.
• 49:25
  Speaker B: Well, I appreciate that you shared that. You know, anyone getting started, you need to. You need to a begin with the source material. Nelson's book, Speak to a coach, speak with someone who's actually doing it. Not someone who says that they are not really doing it. Show. Show me someone doing this who's never taken a policy loan and never repaid it back, and they're not doing anything.
• 49:43
  Speaker A: Okay.
• 49:44
  Speaker B: But I also think that you really recognize that there is an education start and don't try to circumvent or jump the gun and have someone explain it to you in 15 minutes because you can't learn how to control capital in an efficient way for the rest of your life as a lifestyle in 15 minutes. And if you can do something that could completely change the direction of your whole family's financial picture and that's going to cascade past your own life, isn't it worth taking a couple hours to start to figure out how to do that before you make a rash judgment? I think that's kind of how I would, you know, summarize, maybe the way that you shared it.
• 50:24
  Speaker A: Yeah, no, that's a wonderful way to say it. Yeah, yeah. And I always, I also want to make the point that I, I'm a skeptic by nature. And so if, if it comes across here because I'm pretty enthusiastic about it. Be skeptical. Skepticism is healthy, right? Like it's, it's a good thing. We don't want to fall for anything.
• 50:47
  Speaker B: Right.
• 50:47
  Speaker A: And so be skeptical. But validate, not cynical. Cynical is like, I don't buy anything, but skepticism is healthy and it's to really validate this. And so if I'm gonna leave a message to the people who I'm gonna tell about this, don't take my word for it. Definitely do your own research, but do the proper research. Don't just go to some random brother in law or the Internet or something.
• 51:15
  Speaker B: Yeah, so, yeah, totally. Yeah, I love that. Which is great. Now, you know, Troy, three decades with the Dale Carnegie organization, thousands of leaders that you've worked with directly, group environments, training platforms, the whole works one on ones in businesses. The Dale Carnegie himself, he probably did attend some Halloween parties in his, maybe in his youth, but I don't imagine that he often showed up wearing a cape. So while he might have thought of himself as a hero, a superhero in some degree, his legacy certainly, I would say is evidence that he, that he would be for a lot of people and probably for yourself and certainly your business partner. So, you know, given that today you're sharing something that's really valuable to you, something that you have agreed you're going to continue to share because of its value and importance, what would you say is who you most want to be a hero to?
• 52:12
  Speaker A: That's clearly my kids. Like, yeah, I, I want the legacy they see for me to, yeah, I want them to go as a hero. I say to my daughter who's like in second year university, right, now and I, I was talking to her about this process again and I said like Lucy, I don't want to bring it down, be a downer here, but I'm not going to be around forever. I really want you to understand this and use it to your full because I won't be here. And I saw a little tear coming around kind of thing. I was like, oh wow. I didn't realize, I didn't mean to be that like sentimental or, or, and but it became clear that I want to leave her with this and my other kids too with this kind of memory and, and, and storage. So, so well and so that's who I want to be a hero to is, is them for sure. And maybe sounds obvious, but that's who it is, is love that. Good question.
• 53:11
  Speaker B: Troy. How can people best get a hold of you if they want to learn more about the Dale Carnegie organization and what you guys do?
• 53:18
  Speaker A: Yeah, well, we take care of Ontario in the Maritimes, but Dale Carnegie is available everywhere. So in Canada, wherever you are Locally, go to Dale Carnegie.com and you'll be hooked up with your local person. And they're all amazing. They're all friends of mine and they will help you very much wherever you are. And so yeah, dalecarney.com and you'll get connected. But if you want a personal connection, just reach out to me and I'll happily get you to them. So yeah, that's it.
• 53:46
  Speaker B: Amazing. And you can check out the show notes for some of those links. For those of you joining us today, you will see magically, poof. Another video just popped up that says, oh my God, this is incredible content. Go ahead, click that right now and continue the journey of learning. Thanks for being with us today. Today it's time that you join our private member only community on Facebook. Go to wealthonmainstreet.com community. That's wealthonmainstreet.com community.