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Speaker 1: If you're serious about building wealth in twenty twenty five,

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Speaker 1: then pay close attention because most people don't realize that

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Speaker 1: the same strategies that worked a decade ago.

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Speaker 2: They're just not going to cut it anymore.

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Speaker 1: The world has changed and if you don't change your

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Speaker 1: approach to wealth, you're never going to make you Now,

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Speaker 1: my name is Mark Wawsas. I'm an eight figure CEO.

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Speaker 1: I've built and sold multiple businesses through three boom and

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Speaker 1: bus cycles, and in this video, I'm going to show

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Speaker 1: you how to adapt and how to change to build

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Speaker 1: and protect your wealth in twenty twenty five.

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Speaker 2: So let's go.

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Speaker 1: So we're going to talk about building wealth in twenty

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Speaker 1: twenty five. But before we jump into that, we should

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Speaker 1: just establish what is the definition of the word wealthy. Now,

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Speaker 1: I believe that the definition of that word maybe changes

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Speaker 1: as you're in that pursuit, as you're in that growth period.

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Speaker 1: And so when I ask most people, and I've asked

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Speaker 1: hundreds of people, maybe thousands of people, what has been

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Speaker 1: truly wealthy mean to you? Most times they say time.

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Speaker 2: Freedom.

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Speaker 1: If I was wealthy, if I had enough money, then

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Speaker 1: I would have the freedom to do whatever I wanted.

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Speaker 1: And so that's all slimately the end goal, that's what

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Speaker 1: I like to think about. However, in the beginning, being

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Speaker 1: wealthy might be more about like financial independence. Do I

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Speaker 1: make enough money to at least live like I want

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Speaker 1: to live. Eventually it becomes do I have enough money

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Speaker 1: coming in maybe passively through my business where I don't

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Speaker 1: have to work as much? And then ultimately the goal

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Speaker 1: is to have that time freedom, and that's true wealth

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Speaker 1: for me, and that's the goal that I want for you.

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Speaker 1: So when we talk about building wealth in twenty twenty five,

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Speaker 1: we're really what we're talking about is having enough money

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Speaker 1: where I don't have to worry about it, so I

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Speaker 1: can have the time freedom. And the problem that I've

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Speaker 1: seen as I've been on my career building multiple businesses

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Speaker 1: and selling multiple businesses is most times people think that

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Speaker 1: in my business, I'll create the wealth the money that

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Speaker 1: I want, and then I'll have the time the wealth

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Speaker 1: as well. I like to think of time freedom, and

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Speaker 1: more importantly, not just time freedom, but time and location

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Speaker 1: freedom as being the keys the hallmarks of true wealth.

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Speaker 1: But most people have started this business and instead of

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Speaker 1: creating a business, what they've really done is created a

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Speaker 1: new job for themselves instead of having this free un

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Speaker 1: in life that they dreamed about, they probably work for

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Speaker 1: a worst boss themselves than they had before. And so

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Speaker 1: really the key is, how do I create that business

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Speaker 1: that can generate the revenue that I need to get

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Speaker 1: me to the point of true wealth, which is not

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Speaker 1: just having the money, but also having the time and

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Speaker 1: location freedom to live that truly wealthy life. Let me

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Speaker 1: tell you a story so you can understand what I'm

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Speaker 1: talking about. My first company that I sold off was

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Speaker 1: a high tech medical equipment company, and the company was great.

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Speaker 1: I had it for about seven years. I had about

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Speaker 1: a dozen people working there, and it threw off lots

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Speaker 1: of free cash flow.

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Speaker 2: The problem was is that.

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Speaker 1: It was a physical location and I had to show

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Speaker 1: up every day, and I had to manage the people

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Speaker 1: that were there. I had to keep them morale high.

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Speaker 1: I had to make sure that they were still working

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Speaker 1: and the wheels were still turning, and of course the

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Speaker 1: income was coming in. Now, I love the income that

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Speaker 1: was coming in, but I didn't want to be chained

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Speaker 1: down to that physical location on a regular basis. And

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Speaker 1: you know, I was reading too many books and watching

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Speaker 1: too many videos about the dream of having this passive income,

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Speaker 1: and so I thought, shoot, well, I'm stuck in this business.

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Speaker 1: One of my core values is freedom. It was going

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Speaker 1: against that, which causing massive stress in my life. That's

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Speaker 1: a whole other topic. And so I thought, well, if

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Speaker 1: I really want the passive income, I need to sell

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Speaker 1: this business, get multiple seven figures. I could use that

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Speaker 1: money then to go generate what I thought this was

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Speaker 1: a stream of passive income. I wanted to be free

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Speaker 1: of the business and have the life that I wanted,

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Speaker 1: the time and location freedom, And so I did. I

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Speaker 1: put the business up for sale and I managed to

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Speaker 1: sell it to the largest company, a Fortune four hundred company,

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Speaker 1: the largest company in the medical device space. Now what

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Speaker 1: was interesting about that is I thought I was freeing

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Speaker 1: myself from that business. But the deal hinged on me

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Speaker 1: working for that company for two years. Now, at first

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Speaker 1: I was a deal breaker for me. No way am

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Speaker 1: I going to work for somebody. I'm an entrepreneur. I

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Speaker 1: work for myself. And ultimately the whole point was to

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Speaker 1: sell the business, to become free from that business, not

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Speaker 1: work for it for two more years and for a boss.

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Speaker 1: But here's the thing, I realized that there was a

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Speaker 1: gap in my thinking, a gap in my knowledge, a

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Speaker 1: gap in my training. And so rather than saying no

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Speaker 1: and losing the deal, I said yes, and I approached

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Speaker 1: it as a learning opportunity. And what I realized is

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Speaker 1: as soon as the cell went through, I got to

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Speaker 1: stay in my own building, manage my own team. But

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Speaker 1: they put somebody that sort of was my liaison to

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Speaker 1: the company, and they helped me figure out how I

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Speaker 1: could install a set of systems in the business to

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Speaker 1: instantly remove myself. And within about less than ninety days,

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Speaker 1: using the systems that they taught me, I didn't really

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Speaker 1: have a job in the business anymore. I was still

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Speaker 1: there as the figurehead, and I was still responsible to

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Speaker 1: look at the numbers, report the numbers, and guide the

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Speaker 1: team and the vision. But all of a sudden, I

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Speaker 1: was free from the business in less than ninety days.

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Speaker 1: And then it hit me, I didn't need to sell

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Speaker 1: my business to be free from the business. All I

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Speaker 1: had to do was follow a proven set of systems

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Speaker 1: like Fortune five hundred companies use, and I could have

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Speaker 1: had the freedom all along. So if you really want

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Speaker 1: to build wealth, number one, you need to solve problems.

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Speaker 1: You need to have a business but most importantly, if

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Speaker 1: you have that business and you're feeling like you're just

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Speaker 1: not getting to that true wealth position that you want,

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Speaker 1: true wealth being time and location freedom, then you don't

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Speaker 1: have to sell the business. You don't have to start

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Speaker 1: another business. And what I tell most entrepreneurs that I

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Speaker 1: coach is that within about ninety days, you can have

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Speaker 1: the freedom that you want with just a few simple steps.

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Speaker 1: All right, so let me give you an idea of

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Speaker 1: exactly what we did here. Now, I can't give you

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Speaker 1: two years of education in a very short video. I

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Speaker 1: could make another video on it, but let me show

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Speaker 1: you the very first thing they had me do. Now, warning,

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Speaker 1: when they told me this, I thought it was ridiculous,

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Speaker 1: and as a matter of fact, I pushed back on

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Speaker 1: it and said I didn't want.

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Speaker 2: To do it.

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Speaker 1: It was ridiculous, it was stupid, it was a waste

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Speaker 1: of my time. But I can tell you right now

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Speaker 1: it transformed everything about that business. It transformed everything the

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Speaker 1: way that I look at businesses, and it's still something

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Speaker 1: I use to this day in every business that I

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Speaker 1: own or operate or advise into. Okay, so let me

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Speaker 1: break it down. The very first thing they had me

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Speaker 1: do was come up with a spreadsheet a Google sheet

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Speaker 1: back then it was an Excel sheet, and we broke

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Speaker 1: down the business into what are the key things that

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Speaker 1: have to happen inside of the business to make sure

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Speaker 1: that we have success. So what are the daily things

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Speaker 1: that have to happen and how do we measure them.

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Speaker 1: It's sort of like if you went to the hospital

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Speaker 1: and they took you up on a machine to check

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Speaker 1: your pulse all the time. Now these are known as

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Speaker 1: key key performance indicators or KPI's. Now each business is

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Speaker 1: going to have these differently, and each department could also

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Speaker 1: have these differently. But for the business it would be

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Speaker 1: for example, in this medical device company and be like,

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Speaker 1: how many calls did we get, how many orders did

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Speaker 1: we get, how many packages do we receive, how many

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Speaker 1: repairs do we get done, how many packages do we ship?

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Speaker 1: How much revenue do we collect? Now we entered this

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Speaker 1: into a sheet and every single day at four PM,

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Speaker 1: I had to enter these numbers. And I thought this

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Speaker 1: was ridiculous. I mean, the data is in the computer,

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Speaker 1: you could just get it, right, Why do I need

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Speaker 1: to pull this and put it into a spreadsheet? But

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Speaker 1: every day I did. I put it into a spreadsheet,

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Speaker 1: and what would happen is that spreadsheet would then go

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Speaker 1: to my person above me and they would compile that

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Speaker 1: with their data, and the person above them compile, person

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Speaker 1: above them compile, and we get all the way to

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Speaker 1: the CEO's desk every single day, so we could see

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Speaker 1: through the entire business, the pulse of the business. Now,

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Speaker 1: one thing about data is at first, if you haven't

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Speaker 1: been looking at data on a regular basis, it might

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Speaker 1: not make sense to you. But when you look at

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Speaker 1: data on a regular basis, on a consistent basis over

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Speaker 1: a long period of time, the data starts speaking to you.

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Speaker 1: What I've learned is that we need to identify what

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Speaker 1: are the core things you have to do in order

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Speaker 1: to achieve the.

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Speaker 2: Goal that you want.

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Speaker 1: And so this is the way that life works. If

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Speaker 1: I wanted to put on fifteen pounds of muscle, then

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Speaker 1: I would have to create a system to do that.

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Speaker 1: So how many calories would I have to eat? What

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Speaker 1: types of calories would they be? How many times would

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Speaker 1: I work out? What exercises would I do? How much

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Speaker 1: weight would I lift? And then I would track that

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Speaker 1: Here's how many calories right today? Here's my workouts for

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Speaker 1: today and over a period of time, I would ensure

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Speaker 1: that I was able to gain that weight.

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Speaker 2: And it's no different with your business.

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Speaker 1: How much revenue do I want to make, how much

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Speaker 1: time do I want to get off? Whatever those goals

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Speaker 1: are you have in your business, you have to identify

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Speaker 1: what are the successful steps I have to do, and

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Speaker 1: you have to track them every single day. Key performance

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Speaker 1: indicators KPIs. Now I've modified this since KPIs are sort

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Speaker 1: of lagging indicators. They tell us what happened. Now, what

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Speaker 1: I like to do is take the KPIs and match

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Speaker 1: them to a forward looking goal. So I don't know

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Speaker 1: if I'm tracking properly or not, but that's a whole

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Speaker 1: other subject. If you want me to break this down

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Speaker 1: in more detail, leave me a comment down below and

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Speaker 1: we can dive into this. But that's the very first

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Speaker 1: thing they had me do, which again I thought was ridiculous.

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Speaker 1: You might say, oh, yeah, I've heard this before, I

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Speaker 1: know this, but I'm guessing you're.

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Speaker 2: Not doing that in your own business. So start with that.

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Speaker 1: All right, Let's put this into actions so you can

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Speaker 1: walk away from this video with something tangible that you

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Speaker 1: can use. Right now when it comes to making these KPIs,

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Speaker 1: you want to have about five or six, no more

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Speaker 1: than that, and you want to understand what are the

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Speaker 1: key performance indicators.

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Speaker 2: For this role. And it just depends.

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Speaker 1: So for example, if I'm a salesperson, let's say that

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Speaker 1: I do high ticket sales on the phone, it might

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Speaker 1: be how many hours did I work? And these are

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Speaker 1: waterfall metrics, meaning each one qualifies the next. So for example,

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Speaker 1: how many hours did I work? I know if those

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Speaker 1: hours are any good? Well? How many phone calls did

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Speaker 1: I make? How do I know if those phone calls

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Speaker 1: were any good? How many minutes did I talk? How

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Speaker 1: do I know if those minutes were any good? How

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Speaker 1: many quotes did I get out? How do I know

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Speaker 1: if I put good quotes out? How many quotes did

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Speaker 1: I get returned back? And how do I know if

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Speaker 1: those were any good? Well? How many sales did I close?

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Speaker 1: And how I know if those are any good? How

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Speaker 1: much revenue do I collect? So each one qualifies into

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Speaker 1: the next one that would be for like a sales

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Speaker 1: based business. Okay, so now that we've done that exercise,

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Speaker 1: we know what the key things are in our business

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Speaker 1: and we start to track the data. The numbers Now

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Speaker 1: What this shows us is which of these areas.

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Speaker 2: We need to do more work in.

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Speaker 1: So now we have focus as to where we need

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Speaker 1: to go to improve our business. Now, the next part

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Speaker 1: is how do we start getting some time back right away? Well,

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Speaker 1: what we want to do is the first thing is

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Speaker 1: do a time audit or a time study. This is

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Speaker 1: something I do usually about twice a year, sometimes more

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Speaker 1: often depending on how I feel about how clear I

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Speaker 1: am and what I'm working on the business. Now you

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Speaker 1: can do is low tech or high tech. Low tech

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Speaker 1: is just get like an Excel spreadsheet and print it

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Speaker 1: out and literally use piece of paper and a pen,

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Speaker 1: and I set my iPhone up with a timer. In

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Speaker 1: every fifteen minutes, the timer goes off, and when that

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Speaker 1: goes off, I write down on the piece of paper

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Speaker 1: what am I doing, what am I working on? And

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Speaker 1: I do that typically for two weeks. Then at the

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Speaker 1: end of two weeks.

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Speaker 2: I look at that sheet of all.

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Speaker 1: The things that I've been doing, and I categorize them

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Speaker 1: and I break them down into creative tasks, management tasks,

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Speaker 1: ideation task, research tasks, or whatever those categories might be

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Speaker 1: for your business. Then once I've been able to categorize

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Speaker 1: what I'm spending my time on. I can start to think, okay,

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Speaker 1: of these tasks, which ones can I get rid of?

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Speaker 1: All right, now, Typically what we want to do as

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Speaker 1: an entrepreneur is start to move more towards the creative

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Speaker 1: task that's our zone of genius, and away from the

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Speaker 1: technical task. Technical task would be defined as something that's

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Speaker 1: done more than one time. If it's done more than

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Speaker 1: one time, I can create a system for that. I

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Speaker 1: can just record my screen while I'm doing it, or

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Speaker 1: record a camera of me doing it, and I can

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Speaker 1: then give that to somebody else to do. I want

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Speaker 1: to continue to move more and more to the creative

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Speaker 1: time so I can spend that on the higher value tasks,

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Speaker 1: again my zone of genius. So the only way to

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Speaker 1: really do this is to do this through a time audit,

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Speaker 1: so you can understand where you need to attack, sort

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Speaker 1: of like the KPIs. It's all about getting the data

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Speaker 1: so you can learn how to optimize on what you have.

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Speaker 1: Those two things right there would typically save most entrepreneurs

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Speaker 1: about ten hours a week if you can dial those in.

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Speaker 1: All right, so now you're well on your way to

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Speaker 1: getting true wealth again, time freedom, So you have a

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Speaker 1: business that's now being able to run sort of without

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Speaker 1: you or with less of you, it's hopefully throwing off

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Speaker 1: good revenue. We can talk about that later, but now

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Speaker 1: are you able to get that time freedom?

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Speaker 2: Now, let me tell you about a trap that you

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Speaker 2: have to watch out for. Now.

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Speaker 1: Most people again think that wealth is just money. So

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Speaker 1: I need my money my business to make as much

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Speaker 1: money as I can, because that's true wealth. But the

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Speaker 1: problem is that again the new rids think about time

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Speaker 1: and location freedom. And so rather than looking at my

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Speaker 1: business like a bank account, like a piggybank, and how

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Speaker 1: can I extras act as much wealth out of that?

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Speaker 1: If you put your investor on is how can I

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Speaker 1: put money back into my business to allow it to grow,

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Speaker 1: but more importantly, to buy back my time. You see,

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Speaker 1: if you're only focused on the amount of money that

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Speaker 1: you're making, then you're going to work eighty hours a

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Speaker 1: week because you're gonna want to do every task yourself.

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Speaker 1: You're never gonna want to hire anybody else to do that. However,

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Speaker 1: if you're focusing on time and location freedom, then you

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Speaker 1: realize that it's okay to give up some of that

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Speaker 1: money to allow people to do other tasks they can

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Speaker 1: do for you to get that time back. Now, that's

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Speaker 1: part of becoming true wealthy is having that time and

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Speaker 1: location freedom. The true pro realizes that by doing that,

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Speaker 1: and if I reinvest some of that time that I

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Speaker 1: get back into the business, then I'll grow even faster

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Speaker 1: in the wealth pursuit. A small business owner, are you

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Speaker 1: buried in all types of work keeping you from the

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Speaker 1: real thing that makes you money? Well that's where just

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Speaker 1: Works comes in. They're the all in one platform that

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Speaker 1: supports small business growth.

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Speaker 2: You can get all.

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Speaker 1: Their tools that help with benefits like pay role and

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Speaker 1: hire top talent internationally, internew markets, quickly scale international operations

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Speaker 1: without the workload, and for every how.

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Speaker 2: Do I do it? Question?

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Speaker 1: You can reach out to their expert staff from sole

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Speaker 1: proprietor or a team of twenty. Just Works empowers all

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Speaker 1: kinds of small businesses with real human support. So visit

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Speaker 1: justworks dot com slash podcast to join the thousands of

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Speaker 1: small businesses that trust just Works to take care of payroll, benefits,

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Speaker 1: compliance and more. Again, that's Justworks dot com slash podcasts.

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Speaker 1: All Right, so we are on our quest to getting

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Speaker 1: real wealth, time and location freedom. We have a business

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Speaker 1: now that's running on a system. We have a system

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Speaker 1: in place, we're growing, we know exactly where we need

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Speaker 1: to focus on that business. We've reclaimed some of our

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Speaker 1: time by doing our time audits. But now what do

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Speaker 1: we do well? What we want to do is we

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Speaker 1: want to use that business to get our time back first,

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Speaker 1: but then we use that business to generate well for

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Speaker 1: money that we then put into other assets.

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Speaker 2: Now, the key is what type of assets are you

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Speaker 2: buying now?

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Speaker 1: The problem is that traditional education, mainstream narratives, Wall Street,

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Speaker 1: and the Dave Ramers of the world are misleading you

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Speaker 1: down a very dangerous path. So forget the nine to

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Speaker 1: five save for forty years and put it into the

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Speaker 1: S and P five hundred index or four to one

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Speaker 1: kre mutual fund. Those assets are all fake. When I

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Speaker 1: say fake, what I mean is their returns are fake

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Speaker 1: because they're being measured against CPI or consumer price inflation,

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Speaker 1: which is a fake metric CPI or CPI. What we

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Speaker 1: want to do is we want to be buying trophy assets. Now.

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Speaker 1: Trophy assets are assets that are unique, They're rare, they're

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Speaker 1: scarce and they're a lot different than most general assets.

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Speaker 1: The S and P five hundred is doing seven eight

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Speaker 1: nine percent over whatever forty fifty sixty year period you

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Speaker 1: want to measure it, maybe twelve percent the last couple

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Speaker 1: of years. But the real rate of inflation is the

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Speaker 1: rate of debasement or the supply money supply increasing, which

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Speaker 1: is about ten percent per year since twenty nineteen. That's

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Speaker 1: the real rate you have to beat. And that's why

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Speaker 1: you look at yourss in P five hundred index mutual

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Speaker 1: fund and it's going up in value. It looks like

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Speaker 1: you're getting rich, but the reality is you're feeling more

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Speaker 1: and more poor. And that's because they're not keeping up

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Speaker 1: with the rate of inflation. So we want trophy assets,

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Speaker 1: scarce assets, rare assets. And consider this like beachfront property.

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Speaker 1: Consider it like lakefront property. Think of it like unique painting,

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Speaker 1: a unique car. Think of it like bitcoin, something that's

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Speaker 1: scarce that's hard to get. Now, let me give you

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Speaker 1: an example of why this matters. Since twenty nineteen, or

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Speaker 1: let's say the last four or five years, real estate

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Speaker 1: in the United States, the median the average real estate

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Speaker 1: across the United States has gone up by about forty percent. Well,

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Speaker 1: that's about the rate of the money supply increased in

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Speaker 1: the United States as well. Austin, Texas was the fastest

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Speaker 1: growing city in America for about the last twenty years,

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Speaker 1: and it's real estate went up a little bit faster,

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Speaker 1: went up about forty five percent because there was a

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Speaker 1: little bit more demand for that. But in Austin there's

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Speaker 1: a lake, it's called Lake Travis.

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Speaker 2: There's only so many.

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Speaker 1: Homes that are lake front on the lake. Those homes

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Speaker 1: went up about one hundred and fifty to two hundred

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Speaker 1: percent because they're scarce, because they're trophies, because they're hard

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Speaker 1: to replace.

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Speaker 2: So that's where the.

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Speaker 1: Rich people want to take their wealth. They want to

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Speaker 1: park it. And I like to think of it as

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Speaker 1: savings instead of more investing. I invest into my business,

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Speaker 1: so I create more money, and then I take that

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Speaker 1: money whatever I don't spend, and I save it, and

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Speaker 1: I save it in real estate, and I save it

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Speaker 1: in bitcoin, and I save it in other rare assets.

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Speaker 1: And the reason why I use the word saving as

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Speaker 1: opposed to investing is it changes my mental mindset around it.

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Speaker 1: You see, when I think of it as investing, that

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Speaker 1: means that's like active it's something I have to be

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Speaker 1: actively doing, and I want to be active in my business.

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Speaker 1: But saving in real estate and saving in bitcoin and

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Speaker 1: other scarce assets make me think of it being passive,

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Speaker 1: meaning I'm parking my money there and maybe I'm leaving

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Speaker 1: it there for five years, ten years, or maybe for

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Speaker 1: future generations. And so we're making the wealth, creating the

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Speaker 1: wealth in the business, and we're saving it or investing

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Speaker 1: it into scarce assets. Now, if you're still not quite understanding,

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Speaker 1: let me give you a couple examples of trophy assets

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Speaker 1: that I own today. So, for example, when the world

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Speaker 1: was sort of melting down during the pandemic, people were

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Speaker 1: starting to buy a freezer for the garage and put

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Speaker 1: meat inside their steaks inside there, I bought a ranch,

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Speaker 1: and so I bought a property outside of Austin, Texas,

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Speaker 1: a beautiful ranch property.

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Speaker 2: I have cows, I have goats, I have animals on there.

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Speaker 2: I have a place for my family to go a refuge.

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Speaker 1: And this is a very unique property because it's close

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Speaker 1: to Austin, but it's still far enough away. And so

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Speaker 1: this is a very unique property. And the reason why

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Speaker 1: it's a trophy property is it's one of those properties

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Speaker 1: that if you sold it, you may never get it back.

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Speaker 2: That's what makes it scarce.

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Speaker 1: Another example is currently right now, I have a house

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Speaker 1: that I'm building down in Mexico. Again, I like to

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Speaker 1: have options. I don't know how the world's going to unfold.

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Speaker 1: So I bought a property in another country and it's

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Speaker 1: on the beach. It's a beautiful bee each property. You

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Speaker 1: might have seen me posting about it on my social

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Speaker 1: media accounts. And again this is on the beach, beachfront property.

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Speaker 1: And again one of those properties where if I were

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Speaker 1: to sell it, I may never be able to get

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Speaker 1: that property back again. Now you might say, Mark, that's

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Speaker 1: great for you, you're so rich whatever. Well, number one,

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Speaker 1: there's ways that we get those assets to pay for themselves.

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Speaker 1: They don't cost us money. That's a whole other video.

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Speaker 1: If you want me to break that down, let me know.

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Speaker 1: But there's ways that we can all do this, even

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Speaker 1: if you have five dollars. So I mentioned bitcoin. Bitcoin

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Speaker 1: is a scarce asset and it's giving private property rights

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Speaker 1: to people all over the world with as little as

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Speaker 1: one dollar or five dollars. And I can tell you

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Speaker 1: that bitcoin is going up at a much faster rate

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Speaker 1: than those trophy real estate properties that I have with

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Speaker 1: a little bit of money right now, and you need

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Speaker 1: to get some trophy assets.

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Speaker 2: Bitcoin is a good option.

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Speaker 1: But what you realize is as you start to get

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Speaker 1: more money and more wealth, you don't need every single

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Speaker 1: dollar to return the highest amount to you, because you see,

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Speaker 1: at the end of the day, money is not what

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Speaker 1: we want. What we want is goods and services. Money

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00:18:56,920 --> 00:18:58,680
Speaker 1: is just a medium of exchange. Is the means for

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Speaker 1: us to get those assets. So I want money, I

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Speaker 1: want my assets to go up in value in bitcoin,

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Speaker 1: so one day I can.

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Speaker 2: Get the beach house. Okay, so I got the beach house.

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Speaker 1: But there's ways that each one of us can get

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Speaker 1: those trophy assets right now. All right now, I need

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Speaker 1: to give you one more reason why you need to

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Speaker 1: consider the types of trophy assets that you buy.

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Speaker 2: Now.

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Speaker 1: In the bitcoin community, which of course I'm a big

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Speaker 1: member of, we see this raging debate NonStop about what's

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Speaker 1: better bitcoin and real estate, Bitcoin and real estate, and

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Speaker 1: I think it's the wrong question. The right question is

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Speaker 1: how do I use different types of assets in the

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Speaker 1: right sequence to end up with more of both? Now,

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Speaker 1: how do we end up with more of both. Well,

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Speaker 1: there's two ways that we do that. One it's a

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Speaker 1: concept I call velocity of money, which is how do

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Speaker 1: I invest one dollar three times, five.

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Speaker 2: Times, ten times.

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Speaker 1: But more importantly for this, I want to talk about

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Speaker 1: tax efficiency. You see, whether you like it or not,

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Speaker 1: the government's your partner, and the government wants to take

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Speaker 1: about half of your income depending on where your what

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Speaker 1: state you're in, and your tax income bracket. But let's

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Speaker 1: just say they want to take a big chunk of

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Speaker 1: your income. And my goal is to reduce that amount

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Speaker 1: as best as possible, and the government gives us lots

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Speaker 1: of ways to do that. And so when I use

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Speaker 1: real estate properties, I get massive tax efficiency. Tax efficiency

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Speaker 1: became a big problem for me when I sold my

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Speaker 1: first business because now all of a sudden, we're getting

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Speaker 1: a multi seven figure liquidity event and you realize, oh, shoot,

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Speaker 1: I got to pay over seven figures to the government.

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Speaker 1: And so we started having to figure this out. And

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Speaker 1: so when we use trophy assets like real estate using

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Speaker 1: different tax incentives that are there, such as short term rentals,

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Speaker 1: accelerated depreciation, cost segregation, then that gives us a way

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Speaker 1: to then reduce our taxable income.

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Speaker 2: So I have more after tax.

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Speaker 1: Income to continue to invest into these trophy assets. All right, now,

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Speaker 1: I know we've gone over a lot of information and

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Speaker 1: maybe a little bit of overload, but hopefully it starts

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Speaker 1: to give you a vision of something that you can

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Speaker 1: drive towards. But let's make it a little bit more practical.

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Speaker 1: If you wanted to start today, what are the first

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Speaker 1: few actions that you would take? Well, if you're a

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Speaker 1: business owner, first thing that I would recommend is to

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Speaker 1: get those KPIs in place and start tracking those today,

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Speaker 1: not tomorrow.

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Speaker 2: Today.

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Speaker 1: Number two, I would do the time tracking study to

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Speaker 1: understand where you can save time. If you want a

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Speaker 1: time tracking study, you can download. I'll put a link

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Speaker 1: down to the description down below. And if you're not

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Speaker 1: a business owner, then you might want to watch this

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Speaker 1: detailed blueprint I've given out in this video of how

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Speaker 1: to go from zero to one million in twelve months.

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Speaker 1: As I break it down into monthly milestones, you can

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Speaker 1: follow along and you can watch this video right here.

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Speaker 1: I'll see you over there to your success.

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Speaker 2: I'm out