WEBVTT 00:00:00.000 --> 00:00:01.560 Hey everybody, welcome back to another episode 00:00:01.560 --> 00:00:03.879 of Vision Pros Live. I'm your host and coach, 00:00:04.080 --> 00:00:06.620 Fletcher Ellingson. So glad you're here. I'm 00:00:06.620 --> 00:00:09.759 so glad that you are in this conversation. Today 00:00:09.759 --> 00:00:13.320 on the show, we are talking with MC Laubscher. 00:00:13.439 --> 00:00:18.140 And he is an author of Get Wealthy For Sure. 00:00:18.359 --> 00:00:22.359 He also runs his business called Producers Wealth. 00:00:22.359 --> 00:00:24.920 And you can look him up at producerswealth .com. 00:00:25.100 --> 00:00:29.820 But before we get to what he does. First of all, 00:00:29.839 --> 00:00:33.200 welcome to the show, MC. Hey, thank you for having 00:00:33.200 --> 00:00:34.780 me. I've been looking forward to our conversation. 00:00:35.240 --> 00:00:38.320 Right on, man. And as I mentioned, I always like 00:00:38.320 --> 00:00:40.899 to start off with a win, either something professional 00:00:40.899 --> 00:00:44.500 or personal. And why do we do this? Because there's 00:00:44.500 --> 00:00:46.079 a lot of uncertainty in the world. There's a 00:00:46.079 --> 00:00:49.460 lot of suffering going on. And it's easy to focus 00:00:49.460 --> 00:00:52.299 on what's not going well. But we like to remind 00:00:52.299 --> 00:00:55.759 people that. There's also still a lot of good 00:00:55.759 --> 00:00:59.740 going on and we can be the cause in that goodness. 00:00:59.859 --> 00:01:01.740 So what's something that's going well for you? 00:01:02.320 --> 00:01:05.900 Well, I'll say that, you know, my wins are number 00:01:05.900 --> 00:01:10.390 one, my health and I keep. chomping away at it 00:01:10.390 --> 00:01:14.090 every day and chomping and chipping and working 00:01:14.090 --> 00:01:19.090 on it. I get my workouts in. I try to purposefully 00:01:19.090 --> 00:01:22.430 look at what I eat and how I spend my time and 00:01:22.430 --> 00:01:27.090 my energy and my focus. Also, my family, creating 00:01:27.090 --> 00:01:33.730 memories with them is another one. Just my overall 00:01:33.730 --> 00:01:36.769 state. I love the question and I love how you 00:01:36.769 --> 00:01:40.700 frame it because I like to focus on the things 00:01:40.700 --> 00:01:44.859 that I can control, and I can control how I feel 00:01:44.859 --> 00:01:47.200 every day, my energy, my workouts, my health. 00:01:47.939 --> 00:01:51.060 I can control that. I can control the environment 00:01:51.060 --> 00:01:53.739 in my own house. Everybody tries to change the 00:01:53.739 --> 00:01:56.140 world. I'm like, stop that nonsense. Fix your 00:01:56.140 --> 00:01:59.519 own house first. Start by making your bed. Start 00:01:59.519 --> 00:02:02.959 in your own house, right? So control the environment. 00:02:03.519 --> 00:02:07.019 Is it positive? Are you creating memories? Is 00:02:07.019 --> 00:02:10.360 there excitement? and then your state, as Tony 00:02:10.360 --> 00:02:12.620 Robbins would call it, because that's how people 00:02:12.620 --> 00:02:16.819 interact with you on the outside world, how you 00:02:16.819 --> 00:02:20.120 show up in your business, how you show up in 00:02:20.120 --> 00:02:23.580 your job, and how you show up everywhere else 00:02:23.580 --> 00:02:26.800 in your network. So those are my wins, things 00:02:26.800 --> 00:02:29.280 I can't control. You can win them every day, 00:02:29.379 --> 00:02:32.840 by the way. Hey, isn't that cool? I love that 00:02:32.840 --> 00:02:35.259 you just added that. Yeah, you can have a win 00:02:35.259 --> 00:02:39.719 every day. And it's easy to do. And what I heard 00:02:39.719 --> 00:02:41.879 you say was you're deliberate. You're intentional 00:02:41.879 --> 00:02:44.419 about creating the memories with your family. 00:02:44.439 --> 00:02:47.439 You're intentional about your workouts. You're 00:02:47.439 --> 00:02:52.340 intentional about influencing your state and 00:02:52.340 --> 00:02:56.680 how things operate in your house. And that's 00:02:56.680 --> 00:02:59.770 a big deal. You know, if you're listening to 00:02:59.770 --> 00:03:01.389 this or watching this and you're like, oh, big. 00:03:01.509 --> 00:03:05.810 No, no, no. It is a big deal. Start influencing 00:03:05.810 --> 00:03:08.349 and taking responsibility for things that are 00:03:08.349 --> 00:03:12.870 occurring in your house. Get your own house in 00:03:12.870 --> 00:03:16.270 order before we go out and start, you know, finding 00:03:16.270 --> 00:03:19.229 fault with everything else. Right. Take responsibility, 00:03:19.669 --> 00:03:24.310 deliberateness, intentionality. Those are powerful 00:03:24.310 --> 00:03:27.110 ways of being. So thanks for bringing that to 00:03:27.110 --> 00:03:29.830 the table today, man. Yeah. And the other thing 00:03:29.830 --> 00:03:32.669 is you have the things that you treasure and 00:03:32.669 --> 00:03:35.830 the things that are valuable to you in life you 00:03:35.830 --> 00:03:39.430 protect. So protect your health, protect your 00:03:39.430 --> 00:03:41.550 family, protect the environment inside of your 00:03:41.550 --> 00:03:44.289 house and protect your state. Those things are 00:03:44.289 --> 00:03:47.729 valuable. And again. You know, everybody, especially 00:03:47.729 --> 00:03:49.569 in my world, because, you know, we're in the 00:03:49.569 --> 00:03:53.110 financial world, everybody attaches a dollar 00:03:53.110 --> 00:03:56.150 sign to everything, you know, in the world. But 00:03:56.150 --> 00:03:59.120 I'm like, that doesn't cost you any money. protecting 00:03:59.120 --> 00:04:01.439 those things getting up and just doing a quick 00:04:01.439 --> 00:04:06.180 workout in a home gym or you know do a quick 00:04:06.180 --> 00:04:09.360 you know what was it an insanity insanity workouts 00:04:09.360 --> 00:04:12.780 you know back back in the day uh just just i 00:04:12.780 --> 00:04:15.560 mean just being active going for a walk that 00:04:15.560 --> 00:04:18.019 kind of stuff like that doesn't cost you any 00:04:18.019 --> 00:04:21.379 money um purposely and intentionally blocking 00:04:21.379 --> 00:04:23.879 of time to spend with your your family and creating 00:04:23.879 --> 00:04:26.639 cool memories uh if you have children and stuff 00:04:26.639 --> 00:04:28.279 with them that doesn't cost you any money you 00:04:28.279 --> 00:04:30.660 could do really cool things right where you're 00:04:30.660 --> 00:04:33.439 at inside of your own house and then just protecting 00:04:33.439 --> 00:04:35.279 the environment and protecting your state all 00:04:35.279 --> 00:04:38.399 none of that stuff costs any money but i mean 00:04:38.399 --> 00:04:41.379 i i consider it more valuable than uh you know 00:04:41.379 --> 00:04:45.069 a lot money in a bank account Yeah, exactly. 00:04:45.810 --> 00:04:48.209 And let's put it in another perspective, too. 00:04:48.269 --> 00:04:50.730 Like, how valuable is your health? How valuable 00:04:50.730 --> 00:04:52.730 is your fitness? How valuable is your body? Well, 00:04:52.870 --> 00:04:56.949 let me ask you this. If you got two arms and 00:04:56.949 --> 00:05:00.949 two legs and I give you $100 ,000 for one of 00:05:00.949 --> 00:05:03.589 your arms, is that enough money? You'd be like, 00:05:03.689 --> 00:05:06.149 no way. You're crazy. Okay, well, what is it? 00:05:06.170 --> 00:05:08.750 $500 ,000? No way. I'm like, a million dollars? 00:05:09.389 --> 00:05:11.730 You wouldn't even give me one of your arms for 00:05:11.730 --> 00:05:15.160 a million dollars. Right. You're not going to 00:05:15.160 --> 00:05:17.759 give me a leg for a million dollars. That's how 00:05:17.759 --> 00:05:21.439 valuable you are. You're you are a multi, multi, 00:05:21.459 --> 00:05:25.879 multimillion dollar value machine. And like you 00:05:25.879 --> 00:05:28.079 said, what do we do for the things that we that 00:05:28.079 --> 00:05:30.939 are valuable to us? Protect them. Invest in them. 00:05:31.240 --> 00:05:34.480 Right. Yeah. Yeah. I'm running. It's the same 00:05:34.480 --> 00:05:37.399 as that concept that, you know, with if you have 00:05:37.399 --> 00:05:40.120 to switch roles with Warren Buffett. Right. So 00:05:40.120 --> 00:05:43.029 Warren Buffett. I forget how old is he now, but 00:05:43.029 --> 00:05:45.310 he's probably in his 90s somewhere up there. 00:05:45.589 --> 00:05:48.610 So, you know, statistically, he's he's beaten 00:05:48.610 --> 00:05:50.829 the odds with a lot of things in life, but he 00:05:50.829 --> 00:05:54.310 doesn't have a very big runway left of life. 00:05:54.370 --> 00:05:57.470 Right. Right. But a very full, full life. So 00:05:57.470 --> 00:06:00.009 people would say, well, you know, would you switch 00:06:00.009 --> 00:06:02.839 spaces with Warren Buffett? And the response 00:06:02.839 --> 00:06:04.740 would be like, well, what do you mean? It's like, 00:06:04.800 --> 00:06:06.860 well, you'll have billions of dollars, but you 00:06:06.860 --> 00:06:10.220 probably have five to 10 years left to live if 00:06:10.220 --> 00:06:12.800 even so, if you're lucky. And most people would 00:06:12.800 --> 00:06:15.800 be like, yeah, no, I think I'd stay right where 00:06:15.800 --> 00:06:19.100 I'm at. So I'm like, so just you're yourself. 00:06:19.240 --> 00:06:23.079 You would not switch spaces with Warren Buffett 00:06:23.079 --> 00:06:26.139 right now because you're a time billionaire. 00:06:26.889 --> 00:06:28.870 Instead of just the money billionaire, right? 00:06:29.310 --> 00:06:33.410 Exactly. Yeah. Great, great analogy. All right. 00:06:33.449 --> 00:06:38.250 So you are in the world of finance. And so what 00:06:38.250 --> 00:06:42.269 I'm going to ask you now, MC, is tell us about 00:06:42.269 --> 00:06:43.970 your vision. This is called Vision Pros Live. 00:06:44.050 --> 00:06:48.959 So what is your vision? Yeah. So our mission 00:06:48.959 --> 00:06:52.639 and we're very mission driven at Producers Wealth 00:06:52.639 --> 00:06:55.860 is to elevate the financial well -being of business 00:06:55.860 --> 00:07:00.000 owners and their families. So we really help 00:07:00.000 --> 00:07:03.240 the helpers, you know, business owners and entrepreneurs. 00:07:03.439 --> 00:07:05.860 I mean, they are the producers and the creators 00:07:05.860 --> 00:07:09.860 of value that we see. on on in the world out 00:07:09.860 --> 00:07:12.720 there and they continue to do so and you know 00:07:12.720 --> 00:07:15.680 if you look at the climate globally i mean it's 00:07:15.680 --> 00:07:18.160 becoming tougher and tougher for business owners 00:07:18.160 --> 00:07:21.259 and entrepreneurs not to spread their ideas that's 00:07:21.259 --> 00:07:24.649 the easy part on social media But as far as building 00:07:24.649 --> 00:07:26.730 and growing and scaling businesses, when you're 00:07:26.730 --> 00:07:30.069 playing the tax game, you're playing the legal 00:07:30.069 --> 00:07:34.750 game, all these different frameworks and systems 00:07:34.750 --> 00:07:38.089 which we all operate in and switch back and forth, 00:07:38.209 --> 00:07:42.110 it's tough. It's a tough environment. So my vision 00:07:42.110 --> 00:07:45.709 as the founder and the vision of our company 00:07:45.709 --> 00:07:50.759 is to continue to provide. uh financial services 00:07:50.759 --> 00:07:55.500 and and strategies geared for business owners 00:07:55.500 --> 00:07:58.699 and their families we have found and seen that 00:07:58.699 --> 00:08:01.560 business owners and their families struggle why 00:08:01.560 --> 00:08:05.339 because they're following average financial advice 00:08:05.339 --> 00:08:09.660 and strategies now we're not in the game of average 00:08:09.660 --> 00:08:12.240 your audience is definitely not in the game of 00:08:12.240 --> 00:08:15.360 average average health yeah that kind of sucks 00:08:15.360 --> 00:08:17.199 i mean that means you're overweight right in 00:08:17.199 --> 00:08:20.939 fact Average relationships, that puts you in 00:08:20.939 --> 00:08:25.879 the divorce category, right? Average state, well, 00:08:25.939 --> 00:08:28.240 you're probably on antidepressants and depressed 00:08:28.240 --> 00:08:30.899 if you're average. So let's just toss the average 00:08:30.899 --> 00:08:33.179 out. Yet when it comes to financial advice and 00:08:33.179 --> 00:08:37.299 strategies, which is tailored towards 80 % of 00:08:37.299 --> 00:08:39.279 the people out there, the average person, right? 00:08:39.879 --> 00:08:42.480 That doesn't serve business owners and their 00:08:42.480 --> 00:08:45.159 families. So we are very, very mission -driven 00:08:45.159 --> 00:08:48.559 to bring strategies that are tailored for them 00:08:48.559 --> 00:08:50.259 and their families. And you would notice that 00:08:50.259 --> 00:08:53.139 I've thrown the families there too. Because if 00:08:53.139 --> 00:08:56.120 you look at the business owner, what actually 00:08:56.120 --> 00:08:59.200 is the purpose and drives and motivates business 00:08:59.200 --> 00:09:03.320 owners is their families. So having a plan and 00:09:03.320 --> 00:09:06.470 having strategies around them too. enables the 00:09:06.470 --> 00:09:08.610 business owner to then swing for the fences. 00:09:08.769 --> 00:09:11.649 So that's kind of our vision is to bring advanced 00:09:11.649 --> 00:09:14.529 strategies to them. And that's how we elevate 00:09:14.529 --> 00:09:17.629 their financial well -being for themselves and 00:09:17.629 --> 00:09:22.929 their families. Got it. So we got people listening 00:09:22.929 --> 00:09:29.230 now and watching this and they may not self -identify 00:09:29.230 --> 00:09:35.299 because. They might fall into several different 00:09:35.299 --> 00:09:38.000 camps. One of the camp is like, I already know 00:09:38.000 --> 00:09:39.980 it all or I'm doing all right. I'm doing pretty 00:09:39.980 --> 00:09:43.980 well or I've got good strategies. Another person 00:09:43.980 --> 00:09:49.259 might be like, hold on. MC, what is the average 00:09:49.259 --> 00:09:52.799 financial advice? Because am I practicing the 00:09:52.799 --> 00:09:55.919 average financial advice? Is that what I've created 00:09:55.919 --> 00:10:00.159 in my life? So give us just for kicks and giggles, 00:10:00.200 --> 00:10:04.940 give us one. example of some average financial 00:10:04.940 --> 00:10:07.980 advice that you think doesn't necessarily serve 00:10:07.980 --> 00:10:11.600 well, and then kind of bust that myth, if you 00:10:11.600 --> 00:10:14.879 will? Yeah, great question. So if you think about 00:10:14.879 --> 00:10:17.159 the average person, they're employed, right? 00:10:17.340 --> 00:10:21.019 And there's nothing wrong with that, but it's 00:10:21.019 --> 00:10:26.519 someone that has a W -2 or maybe a 1099. So the 00:10:26.519 --> 00:10:28.899 average financial advice is, hey, you should 00:10:29.399 --> 00:10:31.919 Max out all of your contributions to retirement 00:10:31.919 --> 00:10:34.879 plans and then maybe, you know, set up a separate 00:10:34.879 --> 00:10:38.179 brokerage account. And then lately, it's like, 00:10:38.179 --> 00:10:39.820 you know, maybe you throw in a couple of doggy 00:10:39.820 --> 00:10:43.299 coins in there, too, or or Bitcoin or something 00:10:43.299 --> 00:10:45.620 like that. But it's very much focused on on that. 00:10:45.759 --> 00:10:50.559 So why is that? Why is that advice geared to 00:10:50.559 --> 00:10:52.460 the average person? Why is it terrible advice 00:10:52.460 --> 00:10:55.120 for business owners? So if you think about business 00:10:55.120 --> 00:10:59.679 owners, your biggest. need as a business owner 00:10:59.679 --> 00:11:03.139 there's there's none bigger at all stages of 00:11:03.139 --> 00:11:07.139 being one is access to capital period full stop 00:11:07.139 --> 00:11:10.139 the end i mean without that you don't you don't 00:11:10.139 --> 00:11:12.940 have a business okay pause there for a second 00:11:12.940 --> 00:11:16.879 because because this is um an important thing 00:11:16.879 --> 00:11:20.379 your important concept that you're announcing 00:11:20.379 --> 00:11:23.639 and i and i want people to pause and really hear 00:11:23.639 --> 00:11:25.360 what you said what he's saying is the number 00:11:26.500 --> 00:11:30.179 One priority as a business owner is to maintain 00:11:30.179 --> 00:11:35.779 access to capital. Now, I'm going to press a 00:11:35.779 --> 00:11:38.519 little bit on that because we have people of 00:11:38.519 --> 00:11:43.139 all financial intelligence listening to this. 00:11:43.220 --> 00:11:46.580 And and I don't claim to be the best in that 00:11:46.580 --> 00:11:50.080 realm. So give me an example of what that means. 00:11:50.220 --> 00:11:53.970 Access to capital. Yeah. And back to just bringing 00:11:53.970 --> 00:11:56.590 it to why the average advice is terrible for 00:11:56.590 --> 00:11:59.970 the business owner. Think about it. When you're 00:11:59.970 --> 00:12:02.169 starting your business, you're all in your line. 00:12:02.470 --> 00:12:05.009 You're I mean, unless you come from a wealthy 00:12:05.009 --> 00:12:07.450 family, which that's not a problem at all. Good 00:12:07.450 --> 00:12:10.879 on you. you're all in you're self -funded right 00:12:10.879 --> 00:12:13.740 yes and then the business survives which is the 00:12:13.740 --> 00:12:16.860 first step it's like oh i'm not gonna go bk this 00:12:16.860 --> 00:12:19.480 is fantastic and it's not the bk as in burger 00:12:19.480 --> 00:12:23.179 king it's bankrupt um the second one is oh it's 00:12:23.179 --> 00:12:25.519 profitable this is great now it's taking off 00:12:25.519 --> 00:12:28.139 we've got liquidity and then you've got advisors 00:12:28.139 --> 00:12:30.120 which would never have looked at you in the beginning 00:12:30.120 --> 00:12:33.840 again It's not a problem. You're just not an 00:12:33.840 --> 00:12:36.399 ideal client at that point because you look like 00:12:36.399 --> 00:12:39.240 a broke person on paper because you have to be 00:12:39.240 --> 00:12:41.960 because you're all in. But they now come into 00:12:41.960 --> 00:12:44.720 your world and say, look, you've done a great 00:12:44.720 --> 00:12:47.200 job. Let's take some money outside of the business 00:12:47.200 --> 00:12:50.799 and diversify. Not a terrible strategy at all. 00:12:51.289 --> 00:12:53.570 But then what they do is say, let's give me some 00:12:53.570 --> 00:12:56.269 money. Give the money to me, the financial advisor. 00:12:56.309 --> 00:12:58.169 I'll put it in stocks, bonds and mutual funds. 00:12:58.269 --> 00:13:00.470 And you're diversified outside of your business. 00:13:00.669 --> 00:13:03.590 Problem solved. Well, number one, you lost control 00:13:03.590 --> 00:13:06.549 over the capital that you've used to continue 00:13:06.549 --> 00:13:09.070 to build and grow this company. And especially 00:13:09.070 --> 00:13:11.889 if you're between one and five, you know, three 00:13:11.889 --> 00:13:14.149 to five is the sweet spot of a million dollars 00:13:14.149 --> 00:13:17.220 of revenue. I mean, this is really where you 00:13:17.220 --> 00:13:19.480 still need a lot of your own capital to come 00:13:19.480 --> 00:13:22.039 in, right? You know, higher up than that, now 00:13:22.039 --> 00:13:24.539 we're looking at, you know, raising capital and 00:13:24.539 --> 00:13:26.860 partners and that kind of stuff. But I'm talking 00:13:26.860 --> 00:13:28.799 especially in the beginning phases. So you lost 00:13:28.799 --> 00:13:31.159 control of your capital, which you've used to 00:13:31.159 --> 00:13:35.399 float your business, manage all the cash flow 00:13:35.399 --> 00:13:37.759 in the business, and then grow it, hire employees, 00:13:38.080 --> 00:13:40.779 bring in technology. The second piece is it gets 00:13:40.779 --> 00:13:44.110 worse, and it actually gets comical. You are 00:13:44.110 --> 00:13:46.950 now investing in other people's businesses. You're 00:13:46.950 --> 00:13:49.769 giving Apple liquidity to grow their business. 00:13:49.990 --> 00:13:52.029 And again, I don't have a problem with Tim Cook 00:13:52.029 --> 00:13:54.470 and Apple. I'm recording this on an Apple computer. 00:13:54.730 --> 00:13:57.129 Hey, I'm from South Africa. I don't have a problem 00:13:57.129 --> 00:14:01.309 with Elon Musk and Tesla. But hey, Tesla doesn't 00:14:01.309 --> 00:14:03.769 need my money for more liquidity to build more 00:14:03.769 --> 00:14:08.059 electrical cars. My own business does. So the 00:14:08.059 --> 00:14:10.580 other thing that it also comes into play is when 00:14:10.580 --> 00:14:12.539 business owners start to grow a little bit of 00:14:12.539 --> 00:14:15.019 my capital, they always think of, you know, what 00:14:15.019 --> 00:14:17.639 should I be doing with my money now, too? And 00:14:17.639 --> 00:14:20.019 it's like, what should you be doing? I mean, 00:14:20.039 --> 00:14:22.399 I have people contacting me saying, hey, should 00:14:22.399 --> 00:14:25.659 I, you know, invest in this mobile home park, 00:14:25.740 --> 00:14:29.299 you know, over here? Dude, you literally bought 00:14:29.299 --> 00:14:32.240 like 10 medical practices, bought the real estate. 00:14:32.379 --> 00:14:35.659 Like, that's your game. I'm like, he's like, 00:14:35.799 --> 00:14:37.940 oh, I want to be a real estate investor. You 00:14:37.940 --> 00:14:40.600 are a real estate investor. you just control 00:14:40.600 --> 00:14:43.200 you control the businesses on top of the real 00:14:43.200 --> 00:14:45.240 estate too why don't you just continue to grow 00:14:45.240 --> 00:14:47.580 and scale that you know what you're doing you 00:14:47.580 --> 00:14:50.299 know that game better than any other game that's 00:14:50.299 --> 00:14:52.899 your best investment right there now you're putting 00:14:52.899 --> 00:14:54.679 your money in you know with someone else that 00:14:54.679 --> 00:14:56.379 you hope that they know what they're doing you 00:14:56.379 --> 00:14:58.740 know in a mobile home park and who knows if cousin 00:14:58.740 --> 00:15:01.720 eddie moves in who knows what happens over there 00:15:01.720 --> 00:15:04.639 right so i think the the big concept is like 00:15:04.639 --> 00:15:07.639 to think about it is you always want to maintain 00:15:07.639 --> 00:15:11.419 control over the capital and yet you do want 00:15:11.419 --> 00:15:14.600 to be diversified and not lose that control and 00:15:14.600 --> 00:15:17.320 then the other thing is you know look at your 00:15:17.320 --> 00:15:19.519 your business is your biggest investment at that 00:15:19.519 --> 00:15:21.919 stage especially in the stages that i just mentioned 00:15:21.919 --> 00:15:24.419 and that should be that should be the main focus 00:15:24.419 --> 00:15:27.039 so that's if you just look at the average financial 00:15:27.039 --> 00:15:29.899 advice how that could actually hurt you know 00:15:29.899 --> 00:15:32.000 the business owner and i'll just finish on that 00:15:32.000 --> 00:15:34.460 how could it hurt it the business owner well 00:15:35.049 --> 00:15:37.789 If you've diversified and you've lost control 00:15:37.789 --> 00:15:39.929 of your capital, you now have to go to the bank 00:15:39.929 --> 00:15:42.909 for a proctology exam just to get a line of credit 00:15:42.909 --> 00:15:45.970 or get access to capital, just to run your business, 00:15:46.029 --> 00:15:49.370 payroll, and so forth, and then invest in technology 00:15:49.370 --> 00:15:52.309 and employees and so forth. So you're always 00:15:52.309 --> 00:15:55.289 beholden to a third party that can cut you off 00:15:55.289 --> 00:15:58.149 or give you very unfavorable terms. And again, 00:15:58.409 --> 00:16:01.649 outside financing isn't bad, but when you're 00:16:01.649 --> 00:16:04.820 in a position of power. and you've got control 00:16:04.820 --> 00:16:07.840 over capital, it just puts you on a better footing 00:16:07.840 --> 00:16:12.820 when you're negotiating terms. Yeah. Okay. This 00:16:12.820 --> 00:16:15.539 is an interesting conversation, and I really 00:16:15.539 --> 00:16:21.000 encourage our listeners to listen in, pay attention. 00:16:22.919 --> 00:16:27.379 And I'm assuming you're not saying diversifying 00:16:27.379 --> 00:16:29.899 in investments, that's not a bad thing in itself. 00:16:30.750 --> 00:16:32.990 What you're saying is there's a there and I'm 00:16:32.990 --> 00:16:35.230 reading into this. There's probably a time and 00:16:35.230 --> 00:16:38.909 place for that. But at the early stage, you want 00:16:38.909 --> 00:16:44.149 to maintain influence over your existing capital 00:16:44.149 --> 00:16:48.389 to the best of your ability so that you're not 00:16:48.389 --> 00:16:53.409 at the whim of unfavorable terms of having to 00:16:53.409 --> 00:16:58.210 prove and defend your positions and really, you 00:16:58.210 --> 00:17:01.710 know, go with hat in hand. Can you help me, please? 00:17:02.289 --> 00:17:07.430 Not that that's bad. It just doesn't serve you 00:17:07.430 --> 00:17:11.450 as well as continuing to invest in your business 00:17:11.450 --> 00:17:16.549 and having some liquidity that you can tap into 00:17:16.549 --> 00:17:20.759 if needed. Am I hearing that correctly? Absolutely. 00:17:20.960 --> 00:17:23.660 Again, I'm not saying not to diversify and have 00:17:23.660 --> 00:17:25.420 other investments. There's definitely a time 00:17:25.420 --> 00:17:27.940 and a place. There's just in the beginning how 00:17:27.940 --> 00:17:30.220 you should be thinking about it and how you should 00:17:30.220 --> 00:17:32.660 be executing. It's completely different when 00:17:32.660 --> 00:17:34.960 the business is off to the races. You have a 00:17:34.960 --> 00:17:38.160 self -managing company that grows every single 00:17:38.160 --> 00:17:40.480 year, whether you're involved or not. But in 00:17:40.480 --> 00:17:43.059 the beginning stages, you want to have as much 00:17:43.059 --> 00:17:47.880 control as you can. here's a diversification 00:17:47.880 --> 00:17:51.400 story again um they were running a business out 00:17:51.400 --> 00:17:55.099 of a building so they bought the building eventually 00:17:55.099 --> 00:17:56.880 with three other tenants in it which they're 00:17:56.880 --> 00:17:58.799 the anchor building so now they have a real estate 00:17:58.799 --> 00:18:02.079 company which They're the anchor tenant. They 00:18:02.079 --> 00:18:03.900 own the real estate because they own the business 00:18:03.900 --> 00:18:06.420 on top of that. So he's now in the real estate 00:18:06.420 --> 00:18:08.480 game and he is in the business that he's in. 00:18:08.720 --> 00:18:11.720 And he has also still got control over his capital. 00:18:11.940 --> 00:18:15.240 And he knows that area. He knows the real estate, 00:18:15.339 --> 00:18:17.740 the tenants, the business, all that kind of stuff, 00:18:17.900 --> 00:18:22.339 which is great because I always jokingly say 00:18:22.339 --> 00:18:24.980 and bring it back to Elon Musk. We're not all 00:18:24.980 --> 00:18:27.099 Elon Musk. We're not running four or five different 00:18:27.099 --> 00:18:30.660 companies. And that just doesn't happen. So as 00:18:30.660 --> 00:18:34.000 soon as you start to go from, hey, this is my 00:18:34.000 --> 00:18:37.369 business. Oh, let's start. you know let's uh 00:18:37.369 --> 00:18:40.950 let's let's start buying car washes no that's 00:18:40.950 --> 00:18:43.009 a completely different business which you might 00:18:43.009 --> 00:18:46.069 not even be anywhere in the realm of car washes 00:18:46.069 --> 00:18:49.809 because you're uh you know you've got a hot dog 00:18:49.809 --> 00:18:52.049 franchise let's just say or something like that 00:18:52.049 --> 00:18:55.009 uh or a manufacturing company it's like it's 00:18:55.009 --> 00:18:57.609 not even in the same world so now all of a sudden 00:18:57.609 --> 00:19:00.009 your attention is split which this is a problem 00:19:00.009 --> 00:19:03.049 we all have you know it's a shiny object kind 00:19:03.049 --> 00:19:05.839 of thing and collectively On average, we have 00:19:05.839 --> 00:19:09.579 the attention span of an ad. Entrepreneurs and 00:19:09.579 --> 00:19:11.900 business owners, even worse, right? But you're 00:19:11.900 --> 00:19:15.160 taking away all that focus. And again, what moves 00:19:15.160 --> 00:19:18.420 is where your energy or efforts are behind and 00:19:18.420 --> 00:19:20.079 what your alignment is and eventually your capital 00:19:20.079 --> 00:19:22.319 in the beginning. So there is a time and place 00:19:22.319 --> 00:19:25.619 to band up with your buddy and go buy 20 car 00:19:25.619 --> 00:19:28.250 washes down the line. It's just in the beginning 00:19:28.250 --> 00:19:30.849 phase is your main focus, which is absolutely 00:19:30.849 --> 00:19:33.470 going to move the needle, is controlling your 00:19:33.470 --> 00:19:35.410 capital, using that, putting that behind your 00:19:35.410 --> 00:19:37.890 business and growing your business. Right on. 00:19:39.170 --> 00:19:43.130 That's great. Great conversation. And I think 00:19:43.130 --> 00:19:46.369 we uncovered a nice distinction for people to 00:19:46.369 --> 00:19:49.430 really consider and get curious. And I want our 00:19:49.430 --> 00:19:52.190 listeners to get curious, like, am I doing this? 00:19:52.269 --> 00:19:56.279 Am I maintaining? my ability to influence my 00:19:56.279 --> 00:20:01.119 own and tap into my own liquidity. It's not good, 00:20:01.200 --> 00:20:03.079 bad, right or wrong. It all comes back to, does 00:20:03.079 --> 00:20:06.160 it serve me and does it serve my business? So, 00:20:06.220 --> 00:20:10.000 right. Yeah, absolutely. I mean, the big, the 00:20:10.000 --> 00:20:12.579 big thing about the financial game and I had 00:20:12.579 --> 00:20:15.119 a conversation with a great entrepreneur this 00:20:15.119 --> 00:20:18.039 morning and I love talking to them, you know, 00:20:18.039 --> 00:20:20.539 and he said, you know, MC, I've never actually. 00:20:21.319 --> 00:20:24.240 Like taking a break, step outside the business 00:20:24.240 --> 00:20:26.960 and look from the outside in because we're so 00:20:26.960 --> 00:20:29.279 caught up in what we're doing. Right. Head down, 00:20:29.400 --> 00:20:32.680 grinding, you know, work, working very, very 00:20:32.680 --> 00:20:34.480 hard. And even if we're working on the business, 00:20:34.559 --> 00:20:36.700 you're working hard on the business. Sometimes 00:20:36.700 --> 00:20:38.740 when you just step away a little bit and, you 00:20:38.740 --> 00:20:41.619 know, and you look at, OK, how can we make this 00:20:41.619 --> 00:20:43.859 more effective? How can we make this more efficient? 00:20:44.259 --> 00:20:46.539 You know, one of the things that we look at. 00:20:47.240 --> 00:20:49.420 For him too, it's like there was a ton of cash 00:20:49.420 --> 00:20:51.839 flow leaks that he had in his business. Yours 00:20:51.839 --> 00:20:53.460 is very low -hanging fruit if you're listening 00:20:53.460 --> 00:20:56.660 to this. Do a membership audit on your business. 00:20:57.119 --> 00:21:00.579 You'll probably find like 20 to 25 things on 00:21:00.579 --> 00:21:03.779 average if you have a business of around a revenue 00:21:03.779 --> 00:21:05.779 of a million bucks a year. You probably have 00:21:05.779 --> 00:21:08.920 like 20 subscription memberships because everything 00:21:08.920 --> 00:21:11.579 is on subscription these days that you're not 00:21:11.579 --> 00:21:14.319 even using, which is costing thousands of dollars. 00:21:14.990 --> 00:21:18.009 for your business. So there's a ton of cash flow 00:21:18.009 --> 00:21:20.869 leaks that we identified for him. Then we figured 00:21:20.869 --> 00:21:23.250 out a way how to diversify his capital without 00:21:23.250 --> 00:21:26.029 losing control, create his own banking system. 00:21:26.210 --> 00:21:29.230 So he now has guaranteed access to capital all 00:21:29.230 --> 00:21:31.329 the time to keep growing and funding his business. 00:21:31.609 --> 00:21:35.210 And he's in control of this whole system. He's 00:21:35.210 --> 00:21:37.730 redirecting all of this money that was just flowing 00:21:37.730 --> 00:21:41.609 out of the business. back to his business and 00:21:41.609 --> 00:21:45.009 his family so sometimes and it's not massive 00:21:45.009 --> 00:21:47.609 shifts that you need to make right yeah yeah 00:21:47.609 --> 00:21:49.710 this i mean you could have three or four tax 00:21:49.710 --> 00:21:52.349 moves that a lot of people are not even aware 00:21:52.349 --> 00:21:54.690 of that could be a game changer for your business 00:21:54.690 --> 00:21:56.910 that's going to free up thousands of dollars 00:21:56.910 --> 00:22:00.269 per year compound that over the next 10 15 20 00:22:00.269 --> 00:22:02.910 years for your fat for you and your family Pretty 00:22:02.910 --> 00:22:06.269 big deal. So there's a little, you know, a lot 00:22:06.269 --> 00:22:08.809 of the times that the conversations that I have 00:22:08.809 --> 00:22:11.230 is like, you know, listen, you're crushing it. 00:22:11.930 --> 00:22:14.109 We're not going to get you to crush it more. 00:22:14.210 --> 00:22:16.450 We're going to make one or two tweaks that's 00:22:16.450 --> 00:22:19.430 going to exponentially increase what you're doing 00:22:19.430 --> 00:22:22.250 because it's going to free up more capital and 00:22:22.250 --> 00:22:24.509 put more capital behind the business, which by 00:22:24.509 --> 00:22:27.269 itself is going to get you better and bigger 00:22:27.269 --> 00:22:30.000 results in the end. Yeah, OK, good. And I want 00:22:30.000 --> 00:22:32.880 so there's three things. Just one second. I'm 00:22:32.880 --> 00:22:35.779 taking a note. I want to highlight this for our 00:22:35.779 --> 00:22:39.740 audience. So there's some practical things that 00:22:39.740 --> 00:22:46.279 MC is is talking about doing. And so I like what 00:22:46.279 --> 00:22:48.720 you said. We're not here to help. We're not here 00:22:48.720 --> 00:22:52.220 to to coach you to crush it more. What we're 00:22:52.220 --> 00:22:55.140 helping you to do is to become more efficient. 00:22:56.119 --> 00:23:00.190 Right. To go. Yeah. And so you're doing that 00:23:00.190 --> 00:23:02.789 by and these are just a couple of things that 00:23:02.789 --> 00:23:05.210 our audience can begin to do. But like, look 00:23:05.210 --> 00:23:07.690 at your subscriptions, look at your memberships. 00:23:08.289 --> 00:23:12.970 Are they still relevant? Have they gone up? And 00:23:12.970 --> 00:23:15.750 here's an and here's a great one. Can you negotiate 00:23:15.750 --> 00:23:20.490 a lower price? Because there's plenty of companies 00:23:20.490 --> 00:23:23.329 who. you're like you're overpaying or you're 00:23:23.329 --> 00:23:26.109 there's there might be the next tier down that 00:23:26.109 --> 00:23:28.349 can save you some money or maybe you just don't 00:23:28.349 --> 00:23:30.130 need it anymore you forgot about it and it's 00:23:30.130 --> 00:23:34.630 been on autopay right um he's also that uh what 00:23:34.630 --> 00:23:37.769 they excel in and are trained to do is look for 00:23:37.769 --> 00:23:41.349 the cash flow leak where is your business leaking 00:23:41.349 --> 00:23:44.950 money that you've been too busy to notice or 00:23:44.950 --> 00:23:48.470 maybe you've seen it and and you're like well 00:23:48.470 --> 00:23:52.200 it's just a drip And I don't have time to stop 00:23:52.200 --> 00:23:56.619 and, you know, fix that. No, no, no. Have a conversation. 00:23:56.660 --> 00:24:00.819 How much is that drip costing you? Right. And 00:24:00.819 --> 00:24:04.279 then and then ultimately, yeah, it's really just 00:24:04.279 --> 00:24:08.779 leaning into how do I get efficient in this business? 00:24:09.779 --> 00:24:13.420 So really, really good stuff. Hey, you know. 00:24:13.960 --> 00:24:16.140 I'm hoping that people are really picking up 00:24:16.140 --> 00:24:18.420 what you're laying down, and if they want to 00:24:18.420 --> 00:24:20.819 have a conversation with you, if they want to 00:24:20.819 --> 00:24:25.599 get a free copy of your book, tell us where to 00:24:25.599 --> 00:24:28.079 connect with you and how to get those things. 00:24:28.779 --> 00:24:31.059 Absolutely. If you're interested in just some 00:24:31.059 --> 00:24:33.460 of the ideas that I shared, it's a little bit 00:24:33.460 --> 00:24:36.799 different than what you're going to hear out 00:24:36.799 --> 00:24:39.819 there. I wrote a book called Get Wealthy for 00:24:39.819 --> 00:24:43.880 Sure, a pretty bold statement. Get rich quick, 00:24:44.000 --> 00:24:46.319 right? Get Wealthy for Sure, the number one financial 00:24:46.319 --> 00:24:48.720 strategy for business owners to multiply wealth 00:24:48.720 --> 00:24:51.700 predictably. And if you want a free e -book and 00:24:51.700 --> 00:24:53.619 audio book, because I know you're listening to 00:24:53.619 --> 00:24:55.619 this, so that's why I'm giving you the free audio 00:24:55.619 --> 00:24:59.000 book, you could go to GetWealthyForSure .com. 00:24:59.099 --> 00:25:03.309 It's Get Wealthy for Sure. When you download 00:25:03.309 --> 00:25:05.730 your free e -book and your audio book, there 00:25:05.730 --> 00:25:08.089 will be a link to book a call with myself and 00:25:08.089 --> 00:25:11.710 my team there too on the page where you can download 00:25:11.710 --> 00:25:15.089 the goodies from. And yeah, we would love to 00:25:15.089 --> 00:25:18.990 have a discussion with you and see if we can 00:25:18.990 --> 00:25:23.309 help. And if we have some ideas that can make 00:25:23.309 --> 00:25:26.950 your business more efficient, free up more capital 00:25:26.950 --> 00:25:30.140 for you. and then position more capital behind 00:25:30.140 --> 00:25:33.339 your business and behind your vision. Right on, 00:25:33.440 --> 00:25:36.279 right on. Well said. So get in touch with him. 00:25:36.759 --> 00:25:39.859 If this is resonating with you, MC, thanks for 00:25:39.859 --> 00:25:42.220 being on the show today. Again, you can go to 00:25:42.220 --> 00:25:46.299 producerswealth .com to get all the info, get 00:25:46.299 --> 00:25:50.660 the ebook or the audio book and call him for 00:25:50.660 --> 00:25:52.759 a conversation. It's just a free discovery call. 00:25:52.980 --> 00:25:57.819 Let's see if he can help you out. And hey. I 00:25:57.819 --> 00:26:00.819 want to appreciate you all for being here listening, 00:26:01.119 --> 00:26:03.859 and now it's time for you to get out there, be 00:26:03.859 --> 00:26:06.099 a source of kindness, be a source of contribution. 00:26:06.440 --> 00:26:09.200 You do have something to offer this world, and 00:26:09.200 --> 00:26:11.500 I believe in you. Thank you for being here today. 00:26:11.680 --> 00:26:13.460 I'm really happy that you tuned in to Vision 00:26:13.460 --> 00:26:16.079 Pros Live. I'm looking forward to seeing your 00:26:16.079 --> 00:26:18.859 reactions as these episodes continue to move 00:26:18.859 --> 00:26:20.819 forward. This is going to get more and more fun. 00:26:20.839 --> 00:26:22.700 We'll have more and more engagement as well. 00:26:22.720 --> 00:26:24.640 We'll invite people to participate in the show. 00:26:24.779 --> 00:26:26.819 And thank you for giving us your time and attention. 00:26:27.079 --> 00:26:29.740 Have an excellent time building out your vision 00:26:29.740 --> 00:26:31.079 and becoming a vision pro yourself.