WEBVTT - Steal This $10M Blueprint to Become Financially Free! 0:00:00.120 --> 0:00:02.759 If you're serious about building wealth in twenty twenty five, 0:00:03.040 --> 0:00:06.120 then pay close attention because most people don't realize that 0:00:06.200 --> 0:00:08.480 the same strategies that worked a decade ago. 0:00:08.480 --> 0:00:10.000 They're just not going to cut it anymore. 0:00:10.240 --> 0:00:12.559 The world has changed and if you don't change your 0:00:12.560 --> 0:00:15.159 approach to wealth, you're never going to make you Now, 0:00:15.200 --> 0:00:16.959 my name is Mark Wawsas. I'm an eight figure CEO. 0:00:17.200 --> 0:00:20.040 I've built and sold multiple businesses through three boom and 0:00:20.079 --> 0:00:22.360 bus cycles, and in this video, I'm going to show 0:00:22.400 --> 0:00:24.880 you how to adapt and how to change to build 0:00:24.920 --> 0:00:27.160 and protect your wealth in twenty twenty five. 0:00:27.640 --> 0:00:28.159 So let's go. 0:00:30.200 --> 0:00:31.920 So we're going to talk about building wealth in twenty 0:00:31.960 --> 0:00:33.920 twenty five. But before we jump into that, we should 0:00:34.000 --> 0:00:37.480 just establish what is the definition of the word wealthy. Now, 0:00:37.680 --> 0:00:41.200 I believe that the definition of that word maybe changes 0:00:41.360 --> 0:00:44.479 as you're in that pursuit, as you're in that growth period. 0:00:44.479 --> 0:00:46.920 And so when I ask most people, and I've asked 0:00:47.000 --> 0:00:49.479 hundreds of people, maybe thousands of people, what has been 0:00:49.720 --> 0:00:53.520 truly wealthy mean to you? Most times they say time. 0:00:53.560 --> 0:00:53.920 Freedom. 0:00:54.040 --> 0:00:56.360 If I was wealthy, if I had enough money, then 0:00:56.400 --> 0:00:58.960 I would have the freedom to do whatever I wanted. 0:00:59.200 --> 0:01:01.480 And so that's all slimately the end goal, that's what 0:01:01.560 --> 0:01:03.840 I like to think about. However, in the beginning, being 0:01:03.840 --> 0:01:07.600 wealthy might be more about like financial independence. Do I 0:01:07.680 --> 0:01:10.280 make enough money to at least live like I want 0:01:10.319 --> 0:01:13.320 to live. Eventually it becomes do I have enough money 0:01:13.480 --> 0:01:16.319 coming in maybe passively through my business where I don't 0:01:16.319 --> 0:01:18.720 have to work as much? And then ultimately the goal 0:01:18.959 --> 0:01:22.039 is to have that time freedom, and that's true wealth 0:01:22.040 --> 0:01:23.640 for me, and that's the goal that I want for you. 0:01:23.840 --> 0:01:26.080 So when we talk about building wealth in twenty twenty five, 0:01:26.200 --> 0:01:28.760 we're really what we're talking about is having enough money 0:01:28.959 --> 0:01:30.480 where I don't have to worry about it, so I 0:01:30.520 --> 0:01:32.600 can have the time freedom. And the problem that I've 0:01:32.600 --> 0:01:35.680 seen as I've been on my career building multiple businesses 0:01:35.680 --> 0:01:38.640 and selling multiple businesses is most times people think that 0:01:38.720 --> 0:01:41.280 in my business, I'll create the wealth the money that 0:01:41.319 --> 0:01:43.720 I want, and then I'll have the time the wealth 0:01:43.760 --> 0:01:46.120 as well. I like to think of time freedom, and 0:01:46.160 --> 0:01:48.600 more importantly, not just time freedom, but time and location 0:01:48.800 --> 0:01:51.800 freedom as being the keys the hallmarks of true wealth. 0:01:51.840 --> 0:01:54.480 But most people have started this business and instead of 0:01:54.960 --> 0:01:57.000 creating a business, what they've really done is created a 0:01:57.080 --> 0:01:59.840 new job for themselves instead of having this free un 0:02:00.080 --> 0:02:02.680 in life that they dreamed about, they probably work for 0:02:02.760 --> 0:02:05.840 a worst boss themselves than they had before. And so 0:02:05.960 --> 0:02:08.639 really the key is, how do I create that business 0:02:09.000 --> 0:02:11.959 that can generate the revenue that I need to get 0:02:11.960 --> 0:02:14.600 me to the point of true wealth, which is not 0:02:14.680 --> 0:02:17.120 just having the money, but also having the time and 0:02:17.160 --> 0:02:20.200 location freedom to live that truly wealthy life. Let me 0:02:20.240 --> 0:02:21.760 tell you a story so you can understand what I'm 0:02:21.800 --> 0:02:24.040 talking about. My first company that I sold off was 0:02:24.080 --> 0:02:27.320 a high tech medical equipment company, and the company was great. 0:02:27.360 --> 0:02:29.240 I had it for about seven years. I had about 0:02:29.240 --> 0:02:31.520 a dozen people working there, and it threw off lots 0:02:31.560 --> 0:02:32.480 of free cash flow. 0:02:32.720 --> 0:02:34.359 The problem was is that. 0:02:34.480 --> 0:02:36.320 It was a physical location and I had to show 0:02:36.400 --> 0:02:38.320 up every day, and I had to manage the people 0:02:38.360 --> 0:02:40.359 that were there. I had to keep them morale high. 0:02:40.360 --> 0:02:41.799 I had to make sure that they were still working 0:02:41.800 --> 0:02:43.760 and the wheels were still turning, and of course the 0:02:43.800 --> 0:02:46.520 income was coming in. Now, I love the income that 0:02:46.600 --> 0:02:49.000 was coming in, but I didn't want to be chained 0:02:49.040 --> 0:02:51.320 down to that physical location on a regular basis. And 0:02:51.600 --> 0:02:53.440 you know, I was reading too many books and watching 0:02:53.480 --> 0:02:57.040 too many videos about the dream of having this passive income, 0:02:57.280 --> 0:03:00.800 and so I thought, shoot, well, I'm stuck in this business. 0:03:01.480 --> 0:03:03.720 One of my core values is freedom. It was going 0:03:03.760 --> 0:03:06.160 against that, which causing massive stress in my life. That's 0:03:06.160 --> 0:03:08.720 a whole other topic. And so I thought, well, if 0:03:08.760 --> 0:03:10.800 I really want the passive income, I need to sell 0:03:10.840 --> 0:03:14.840 this business, get multiple seven figures. I could use that 0:03:14.960 --> 0:03:17.799 money then to go generate what I thought this was 0:03:17.840 --> 0:03:20.440 a stream of passive income. I wanted to be free 0:03:20.720 --> 0:03:23.040 of the business and have the life that I wanted, 0:03:23.120 --> 0:03:24.920 the time and location freedom, And so I did. I 0:03:24.919 --> 0:03:27.079 put the business up for sale and I managed to 0:03:27.120 --> 0:03:30.840 sell it to the largest company, a Fortune four hundred company, 0:03:30.880 --> 0:03:34.400 the largest company in the medical device space. Now what 0:03:34.520 --> 0:03:37.320 was interesting about that is I thought I was freeing 0:03:37.360 --> 0:03:40.760 myself from that business. But the deal hinged on me 0:03:40.880 --> 0:03:43.440 working for that company for two years. Now, at first 0:03:43.480 --> 0:03:45.480 I was a deal breaker for me. No way am 0:03:45.480 --> 0:03:47.360 I going to work for somebody. I'm an entrepreneur. I 0:03:47.400 --> 0:03:50.280 work for myself. And ultimately the whole point was to 0:03:50.320 --> 0:03:53.400 sell the business, to become free from that business, not 0:03:53.640 --> 0:03:55.840 work for it for two more years and for a boss. 0:03:56.240 --> 0:03:58.640 But here's the thing, I realized that there was a 0:03:58.720 --> 0:04:01.160 gap in my thinking, a gap in my knowledge, a 0:04:01.160 --> 0:04:04.160 gap in my training. And so rather than saying no 0:04:04.320 --> 0:04:06.600 and losing the deal, I said yes, and I approached 0:04:06.600 --> 0:04:09.240 it as a learning opportunity. And what I realized is 0:04:09.280 --> 0:04:11.320 as soon as the cell went through, I got to 0:04:11.320 --> 0:04:13.440 stay in my own building, manage my own team. But 0:04:13.520 --> 0:04:16.640 they put somebody that sort of was my liaison to 0:04:16.720 --> 0:04:19.599 the company, and they helped me figure out how I 0:04:19.640 --> 0:04:22.560 could install a set of systems in the business to 0:04:22.680 --> 0:04:26.560 instantly remove myself. And within about less than ninety days, 0:04:27.000 --> 0:04:29.440 using the systems that they taught me, I didn't really 0:04:29.480 --> 0:04:31.240 have a job in the business anymore. I was still 0:04:31.240 --> 0:04:34.080 there as the figurehead, and I was still responsible to 0:04:34.120 --> 0:04:36.279 look at the numbers, report the numbers, and guide the 0:04:36.320 --> 0:04:38.680 team and the vision. But all of a sudden, I 0:04:38.800 --> 0:04:41.560 was free from the business in less than ninety days. 0:04:41.839 --> 0:04:45.000 And then it hit me, I didn't need to sell 0:04:45.000 --> 0:04:47.480 my business to be free from the business. All I 0:04:47.520 --> 0:04:50.320 had to do was follow a proven set of systems 0:04:50.360 --> 0:04:52.640 like Fortune five hundred companies use, and I could have 0:04:52.640 --> 0:04:54.680 had the freedom all along. So if you really want 0:04:54.680 --> 0:04:57.040 to build wealth, number one, you need to solve problems. 0:04:57.080 --> 0:04:59.080 You need to have a business but most importantly, if 0:04:59.120 --> 0:05:02.000 you have that business and you're feeling like you're just 0:05:02.080 --> 0:05:04.760 not getting to that true wealth position that you want, 0:05:04.800 --> 0:05:07.360 true wealth being time and location freedom, then you don't 0:05:07.360 --> 0:05:09.039 have to sell the business. You don't have to start 0:05:09.080 --> 0:05:11.640 another business. And what I tell most entrepreneurs that I 0:05:11.680 --> 0:05:15.120 coach is that within about ninety days, you can have 0:05:15.200 --> 0:05:18.280 the freedom that you want with just a few simple steps. 0:05:18.320 --> 0:05:19.800 All right, so let me give you an idea of 0:05:19.839 --> 0:05:22.160 exactly what we did here. Now, I can't give you 0:05:22.160 --> 0:05:24.360 two years of education in a very short video. I 0:05:24.360 --> 0:05:26.200 could make another video on it, but let me show 0:05:26.200 --> 0:05:29.200 you the very first thing they had me do. Now, warning, 0:05:29.480 --> 0:05:31.480 when they told me this, I thought it was ridiculous, 0:05:31.520 --> 0:05:33.080 and as a matter of fact, I pushed back on 0:05:33.120 --> 0:05:34.159 it and said I didn't want. 0:05:34.040 --> 0:05:34.320 To do it. 0:05:34.320 --> 0:05:36.000 It was ridiculous, it was stupid, it was a waste 0:05:36.000 --> 0:05:38.000 of my time. But I can tell you right now 0:05:38.080 --> 0:05:42.320 it transformed everything about that business. It transformed everything the 0:05:42.360 --> 0:05:44.200 way that I look at businesses, and it's still something 0:05:44.240 --> 0:05:47.120 I use to this day in every business that I 0:05:47.200 --> 0:05:49.359 own or operate or advise into. Okay, so let me 0:05:49.360 --> 0:05:51.920 break it down. The very first thing they had me 0:05:52.000 --> 0:05:54.880 do was come up with a spreadsheet a Google sheet 0:05:55.120 --> 0:05:58.120 back then it was an Excel sheet, and we broke 0:05:58.160 --> 0:06:00.520 down the business into what are the key things that 0:06:00.640 --> 0:06:03.559 have to happen inside of the business to make sure 0:06:03.680 --> 0:06:05.960 that we have success. So what are the daily things 0:06:06.000 --> 0:06:08.200 that have to happen and how do we measure them. 0:06:08.200 --> 0:06:09.520 It's sort of like if you went to the hospital 0:06:09.560 --> 0:06:11.080 and they took you up on a machine to check 0:06:11.120 --> 0:06:13.720 your pulse all the time. Now these are known as 0:06:13.839 --> 0:06:18.080 key key performance indicators or KPI's. Now each business is 0:06:18.080 --> 0:06:21.159 going to have these differently, and each department could also 0:06:21.240 --> 0:06:23.920 have these differently. But for the business it would be 0:06:24.000 --> 0:06:26.480 for example, in this medical device company and be like, 0:06:26.640 --> 0:06:29.240 how many calls did we get, how many orders did 0:06:29.279 --> 0:06:32.320 we get, how many packages do we receive, how many 0:06:32.360 --> 0:06:35.000 repairs do we get done, how many packages do we ship? 0:06:35.120 --> 0:06:37.640 How much revenue do we collect? Now we entered this 0:06:37.720 --> 0:06:39.880 into a sheet and every single day at four PM, 0:06:40.120 --> 0:06:42.080 I had to enter these numbers. And I thought this 0:06:42.160 --> 0:06:43.840 was ridiculous. I mean, the data is in the computer, 0:06:43.920 --> 0:06:45.440 you could just get it, right, Why do I need 0:06:45.480 --> 0:06:47.719 to pull this and put it into a spreadsheet? But 0:06:47.760 --> 0:06:49.600 every day I did. I put it into a spreadsheet, 0:06:49.600 --> 0:06:52.000 and what would happen is that spreadsheet would then go 0:06:52.160 --> 0:06:55.039 to my person above me and they would compile that 0:06:55.080 --> 0:06:57.520 with their data, and the person above them compile, person 0:06:57.560 --> 0:06:59.040 above them compile, and we get all the way to 0:06:59.080 --> 0:07:02.080 the CEO's desk every single day, so we could see 0:07:02.120 --> 0:07:04.680 through the entire business, the pulse of the business. Now, 0:07:04.680 --> 0:07:07.600 one thing about data is at first, if you haven't 0:07:07.600 --> 0:07:09.680 been looking at data on a regular basis, it might 0:07:09.760 --> 0:07:11.840 not make sense to you. But when you look at 0:07:11.920 --> 0:07:14.520 data on a regular basis, on a consistent basis over 0:07:14.560 --> 0:07:17.560 a long period of time, the data starts speaking to you. 0:07:17.920 --> 0:07:20.320 What I've learned is that we need to identify what 0:07:20.360 --> 0:07:22.720 are the core things you have to do in order 0:07:22.720 --> 0:07:23.400 to achieve the. 0:07:23.320 --> 0:07:24.080 Goal that you want. 0:07:24.160 --> 0:07:26.680 And so this is the way that life works. If 0:07:26.720 --> 0:07:29.640 I wanted to put on fifteen pounds of muscle, then 0:07:29.720 --> 0:07:31.840 I would have to create a system to do that. 0:07:32.080 --> 0:07:34.360 So how many calories would I have to eat? What 0:07:34.440 --> 0:07:37.000 types of calories would they be? How many times would 0:07:37.000 --> 0:07:39.680 I work out? What exercises would I do? How much 0:07:39.720 --> 0:07:42.160 weight would I lift? And then I would track that 0:07:42.280 --> 0:07:44.560 Here's how many calories right today? Here's my workouts for 0:07:44.640 --> 0:07:46.960 today and over a period of time, I would ensure 0:07:47.000 --> 0:07:48.280 that I was able to gain that weight. 0:07:48.360 --> 0:07:50.000 And it's no different with your business. 0:07:50.160 --> 0:07:52.120 How much revenue do I want to make, how much 0:07:52.120 --> 0:07:54.600 time do I want to get off? Whatever those goals 0:07:54.600 --> 0:07:56.520 are you have in your business, you have to identify 0:07:56.600 --> 0:07:58.920 what are the successful steps I have to do, and 0:07:59.000 --> 0:08:02.600 you have to track them every single day. Key performance 0:08:02.680 --> 0:08:07.120 indicators KPIs. Now I've modified this since KPIs are sort 0:08:07.160 --> 0:08:09.760 of lagging indicators. They tell us what happened. Now, what 0:08:09.840 --> 0:08:12.080 I like to do is take the KPIs and match 0:08:12.120 --> 0:08:14.120 them to a forward looking goal. So I don't know 0:08:14.120 --> 0:08:16.640 if I'm tracking properly or not, but that's a whole 0:08:16.640 --> 0:08:18.440 other subject. If you want me to break this down 0:08:18.440 --> 0:08:20.400 in more detail, leave me a comment down below and 0:08:20.480 --> 0:08:22.760 we can dive into this. But that's the very first 0:08:22.760 --> 0:08:25.600 thing they had me do, which again I thought was ridiculous. 0:08:25.960 --> 0:08:28.120 You might say, oh, yeah, I've heard this before, I 0:08:28.160 --> 0:08:30.200 know this, but I'm guessing you're. 0:08:30.080 --> 0:08:32.160 Not doing that in your own business. So start with that. 0:08:32.360 --> 0:08:34.160 All right, Let's put this into actions so you can 0:08:34.200 --> 0:08:36.280 walk away from this video with something tangible that you 0:08:36.280 --> 0:08:39.679 can use. Right now when it comes to making these KPIs, 0:08:39.880 --> 0:08:41.920 you want to have about five or six, no more 0:08:41.960 --> 0:08:43.960 than that, and you want to understand what are the 0:08:44.080 --> 0:08:46.480 key performance indicators. 0:08:45.880 --> 0:08:47.439 For this role. And it just depends. 0:08:47.600 --> 0:08:50.199 So for example, if I'm a salesperson, let's say that 0:08:50.240 --> 0:08:52.120 I do high ticket sales on the phone, it might 0:08:52.120 --> 0:08:54.200 be how many hours did I work? And these are 0:08:54.320 --> 0:08:58.080 waterfall metrics, meaning each one qualifies the next. So for example, 0:08:58.280 --> 0:09:00.440 how many hours did I work? I know if those 0:09:00.480 --> 0:09:02.480 hours are any good? Well? How many phone calls did 0:09:02.480 --> 0:09:04.120 I make? How do I know if those phone calls 0:09:04.120 --> 0:09:06.600 were any good? How many minutes did I talk? How 0:09:06.600 --> 0:09:08.080 do I know if those minutes were any good? How 0:09:08.120 --> 0:09:10.000 many quotes did I get out? How do I know 0:09:10.040 --> 0:09:11.920 if I put good quotes out? How many quotes did 0:09:11.920 --> 0:09:13.520 I get returned back? And how do I know if 0:09:13.520 --> 0:09:15.480 those were any good? Well? How many sales did I close? 0:09:15.600 --> 0:09:16.880 And how I know if those are any good? How 0:09:16.920 --> 0:09:20.600 much revenue do I collect? So each one qualifies into 0:09:20.640 --> 0:09:22.160 the next one that would be for like a sales 0:09:22.160 --> 0:09:25.160 based business. Okay, so now that we've done that exercise, 0:09:25.200 --> 0:09:27.120 we know what the key things are in our business 0:09:27.160 --> 0:09:29.760 and we start to track the data. The numbers Now 0:09:29.800 --> 0:09:32.839 What this shows us is which of these areas. 0:09:32.480 --> 0:09:33.640 We need to do more work in. 0:09:33.960 --> 0:09:36.800 So now we have focus as to where we need 0:09:36.840 --> 0:09:39.400 to go to improve our business. Now, the next part 0:09:39.480 --> 0:09:42.400 is how do we start getting some time back right away? Well, 0:09:42.559 --> 0:09:44.120 what we want to do is the first thing is 0:09:44.160 --> 0:09:46.679 do a time audit or a time study. This is 0:09:46.720 --> 0:09:49.640 something I do usually about twice a year, sometimes more 0:09:49.640 --> 0:09:51.960 often depending on how I feel about how clear I 0:09:52.000 --> 0:09:53.720 am and what I'm working on the business. Now you 0:09:53.760 --> 0:09:55.960 can do is low tech or high tech. Low tech 0:09:56.040 --> 0:09:58.280 is just get like an Excel spreadsheet and print it 0:09:58.320 --> 0:10:01.040 out and literally use piece of paper and a pen, 0:10:01.440 --> 0:10:04.040 and I set my iPhone up with a timer. In 0:10:04.120 --> 0:10:07.280 every fifteen minutes, the timer goes off, and when that 0:10:07.320 --> 0:10:09.080 goes off, I write down on the piece of paper 0:10:09.160 --> 0:10:11.160 what am I doing, what am I working on? And 0:10:11.200 --> 0:10:13.120 I do that typically for two weeks. Then at the 0:10:13.160 --> 0:10:14.280 end of two weeks. 0:10:14.080 --> 0:10:15.880 I look at that sheet of all. 0:10:15.679 --> 0:10:18.280 The things that I've been doing, and I categorize them 0:10:18.440 --> 0:10:22.680 and I break them down into creative tasks, management tasks, 0:10:23.000 --> 0:10:26.960 ideation task, research tasks, or whatever those categories might be 0:10:27.040 --> 0:10:30.440 for your business. Then once I've been able to categorize 0:10:30.480 --> 0:10:33.760 what I'm spending my time on. I can start to think, okay, 0:10:33.880 --> 0:10:37.000 of these tasks, which ones can I get rid of? 0:10:37.160 --> 0:10:38.600 All right, now, Typically what we want to do as 0:10:38.640 --> 0:10:41.319 an entrepreneur is start to move more towards the creative 0:10:41.360 --> 0:10:43.840 task that's our zone of genius, and away from the 0:10:43.840 --> 0:10:46.840 technical task. Technical task would be defined as something that's 0:10:46.880 --> 0:10:49.520 done more than one time. If it's done more than 0:10:49.600 --> 0:10:52.360 one time, I can create a system for that. I 0:10:52.400 --> 0:10:54.120 can just record my screen while I'm doing it, or 0:10:54.200 --> 0:10:56.199 record a camera of me doing it, and I can 0:10:56.240 --> 0:10:58.880 then give that to somebody else to do. I want 0:10:58.920 --> 0:11:00.840 to continue to move more and more to the creative 0:11:00.880 --> 0:11:04.360 time so I can spend that on the higher value tasks, 0:11:04.360 --> 0:11:07.240 again my zone of genius. So the only way to 0:11:07.280 --> 0:11:09.360 really do this is to do this through a time audit, 0:11:09.400 --> 0:11:11.840 so you can understand where you need to attack, sort 0:11:11.840 --> 0:11:14.360 of like the KPIs. It's all about getting the data 0:11:14.760 --> 0:11:17.040 so you can learn how to optimize on what you have. 0:11:17.440 --> 0:11:21.160 Those two things right there would typically save most entrepreneurs 0:11:21.440 --> 0:11:24.520 about ten hours a week if you can dial those in. 0:11:24.640 --> 0:11:26.480 All right, so now you're well on your way to 0:11:26.600 --> 0:11:29.600 getting true wealth again, time freedom, So you have a 0:11:29.600 --> 0:11:32.400 business that's now being able to run sort of without 0:11:32.480 --> 0:11:35.240 you or with less of you, it's hopefully throwing off 0:11:35.280 --> 0:11:37.920 good revenue. We can talk about that later, but now 0:11:38.280 --> 0:11:39.880 are you able to get that time freedom? 0:11:39.920 --> 0:11:41.240 Now, let me tell you about a trap that you 0:11:41.240 --> 0:11:42.600 have to watch out for. Now. 0:11:42.640 --> 0:11:46.040 Most people again think that wealth is just money. So 0:11:46.080 --> 0:11:48.280 I need my money my business to make as much 0:11:48.320 --> 0:11:51.040 money as I can, because that's true wealth. But the 0:11:51.120 --> 0:11:53.800 problem is that again the new rids think about time 0:11:53.840 --> 0:11:56.640 and location freedom. And so rather than looking at my 0:11:56.679 --> 0:11:59.319 business like a bank account, like a piggybank, and how 0:11:59.320 --> 0:12:01.400 can I extras act as much wealth out of that? 0:12:01.480 --> 0:12:04.200 If you put your investor on is how can I 0:12:04.240 --> 0:12:06.800 put money back into my business to allow it to grow, 0:12:07.000 --> 0:12:10.439 but more importantly, to buy back my time. You see, 0:12:10.600 --> 0:12:12.840 if you're only focused on the amount of money that 0:12:12.880 --> 0:12:15.000 you're making, then you're going to work eighty hours a 0:12:15.000 --> 0:12:16.960 week because you're gonna want to do every task yourself. 0:12:16.960 --> 0:12:19.559 You're never gonna want to hire anybody else to do that. However, 0:12:19.800 --> 0:12:23.079 if you're focusing on time and location freedom, then you 0:12:23.240 --> 0:12:25.920 realize that it's okay to give up some of that 0:12:26.080 --> 0:12:28.800 money to allow people to do other tasks they can 0:12:28.840 --> 0:12:32.520 do for you to get that time back. Now, that's 0:12:32.559 --> 0:12:34.400 part of becoming true wealthy is having that time and 0:12:34.480 --> 0:12:38.640 location freedom. The true pro realizes that by doing that, 0:12:38.880 --> 0:12:41.120 and if I reinvest some of that time that I 0:12:41.160 --> 0:12:44.200 get back into the business, then I'll grow even faster 0:12:44.360 --> 0:12:47.480 in the wealth pursuit. A small business owner, are you 0:12:47.640 --> 0:12:50.240 buried in all types of work keeping you from the 0:12:50.320 --> 0:12:52.920 real thing that makes you money? Well that's where just 0:12:53.000 --> 0:12:55.000 Works comes in. They're the all in one platform that 0:12:55.040 --> 0:12:56.680 supports small business growth. 0:12:56.880 --> 0:12:58.040 You can get all. 0:12:57.840 --> 0:13:00.560 Their tools that help with benefits like pay role and 0:13:00.800 --> 0:13:04.720 HR and compliance with transparent pricing. Now they help you 0:13:04.960 --> 0:13:09.520 hire top talent internationally, internew markets, quickly scale international operations 0:13:09.600 --> 0:13:12.160 without the workload, and for every how. 0:13:12.040 --> 0:13:13.000 Do I do it? Question? 0:13:13.200 --> 0:13:15.520 You can reach out to their expert staff from sole 0:13:15.600 --> 0:13:19.480 proprietor or a team of twenty. Just Works empowers all 0:13:19.600 --> 0:13:23.360 kinds of small businesses with real human support. So visit 0:13:23.520 --> 0:13:27.079 justworks dot com slash podcast to join the thousands of 0:13:27.120 --> 0:13:31.040 small businesses that trust just Works to take care of payroll, benefits, 0:13:31.200 --> 0:13:36.000 compliance and more. Again, that's Justworks dot com slash podcasts. 0:13:37.280 --> 0:13:39.440 All Right, so we are on our quest to getting 0:13:39.600 --> 0:13:42.200 real wealth, time and location freedom. We have a business 0:13:42.240 --> 0:13:45.240 now that's running on a system. We have a system 0:13:45.280 --> 0:13:48.000 in place, we're growing, we know exactly where we need 0:13:48.040 --> 0:13:50.719 to focus on that business. We've reclaimed some of our 0:13:50.720 --> 0:13:53.000 time by doing our time audits. But now what do 0:13:53.040 --> 0:13:54.719 we do well? What we want to do is we 0:13:54.760 --> 0:13:57.400 want to use that business to get our time back first, 0:13:57.480 --> 0:14:00.200 but then we use that business to generate well for 0:14:00.360 --> 0:14:02.320 money that we then put into other assets. 0:14:02.360 --> 0:14:05.200 Now, the key is what type of assets are you 0:14:05.280 --> 0:14:05.760 buying now? 0:14:05.760 --> 0:14:10.120 The problem is that traditional education, mainstream narratives, Wall Street, 0:14:10.120 --> 0:14:12.400 and the Dave Ramers of the world are misleading you 0:14:12.520 --> 0:14:15.880 down a very dangerous path. So forget the nine to 0:14:15.920 --> 0:14:17.839 five save for forty years and put it into the 0:14:17.880 --> 0:14:19.680 S and P five hundred index or four to one 0:14:19.720 --> 0:14:23.360 kre mutual fund. Those assets are all fake. When I 0:14:23.360 --> 0:14:26.480 say fake, what I mean is their returns are fake 0:14:26.880 --> 0:14:31.120 because they're being measured against CPI or consumer price inflation, 0:14:31.120 --> 0:14:34.520 which is a fake metric CPI or CPI. What we 0:14:34.560 --> 0:14:37.160 want to do is we want to be buying trophy assets. Now. 0:14:37.160 --> 0:14:40.680 Trophy assets are assets that are unique, They're rare, they're 0:14:40.720 --> 0:14:43.600 scarce and they're a lot different than most general assets. 0:14:43.840 --> 0:14:46.240 The S and P five hundred is doing seven eight 0:14:46.360 --> 0:14:49.360 nine percent over whatever forty fifty sixty year period you 0:14:49.360 --> 0:14:51.720 want to measure it, maybe twelve percent the last couple 0:14:51.680 --> 0:14:55.160 of years. But the real rate of inflation is the 0:14:55.280 --> 0:14:59.000 rate of debasement or the supply money supply increasing, which 0:14:59.040 --> 0:15:02.320 is about ten percent per year since twenty nineteen. That's 0:15:02.320 --> 0:15:03.960 the real rate you have to beat. And that's why 0:15:04.120 --> 0:15:06.280 you look at yourss in P five hundred index mutual 0:15:06.320 --> 0:15:08.880 fund and it's going up in value. It looks like 0:15:08.920 --> 0:15:12.720 you're getting rich, but the reality is you're feeling more 0:15:12.760 --> 0:15:15.120 and more poor. And that's because they're not keeping up 0:15:15.120 --> 0:15:17.880 with the rate of inflation. So we want trophy assets, 0:15:17.920 --> 0:15:22.720 scarce assets, rare assets. And consider this like beachfront property. 0:15:22.840 --> 0:15:26.760 Consider it like lakefront property. Think of it like unique painting, 0:15:26.840 --> 0:15:29.680 a unique car. Think of it like bitcoin, something that's 0:15:29.760 --> 0:15:32.000 scarce that's hard to get. Now, let me give you 0:15:32.000 --> 0:15:34.800 an example of why this matters. Since twenty nineteen, or 0:15:34.840 --> 0:15:37.040 let's say the last four or five years, real estate 0:15:37.080 --> 0:15:39.680 in the United States, the median the average real estate 0:15:39.760 --> 0:15:43.680 across the United States has gone up by about forty percent. Well, 0:15:43.680 --> 0:15:45.440 that's about the rate of the money supply increased in 0:15:45.440 --> 0:15:48.400 the United States as well. Austin, Texas was the fastest 0:15:48.400 --> 0:15:51.520 growing city in America for about the last twenty years, 0:15:51.640 --> 0:15:53.400 and it's real estate went up a little bit faster, 0:15:53.480 --> 0:15:55.800 went up about forty five percent because there was a 0:15:55.800 --> 0:15:58.000 little bit more demand for that. But in Austin there's 0:15:58.000 --> 0:16:00.000 a lake, it's called Lake Travis. 0:16:00.000 --> 0:16:01.280 There's only so many. 0:16:01.080 --> 0:16:04.240 Homes that are lake front on the lake. Those homes 0:16:04.240 --> 0:16:07.160 went up about one hundred and fifty to two hundred 0:16:07.200 --> 0:16:10.920 percent because they're scarce, because they're trophies, because they're hard 0:16:10.960 --> 0:16:11.520 to replace. 0:16:11.800 --> 0:16:13.200 So that's where the. 0:16:13.320 --> 0:16:15.160 Rich people want to take their wealth. They want to 0:16:15.200 --> 0:16:17.520 park it. And I like to think of it as 0:16:18.200 --> 0:16:22.720 savings instead of more investing. I invest into my business, 0:16:22.760 --> 0:16:25.400 so I create more money, and then I take that 0:16:25.520 --> 0:16:28.080 money whatever I don't spend, and I save it, and 0:16:28.120 --> 0:16:30.800 I save it in real estate, and I save it 0:16:31.000 --> 0:16:34.320 in bitcoin, and I save it in other rare assets. 0:16:34.320 --> 0:16:36.360 And the reason why I use the word saving as 0:16:36.400 --> 0:16:40.280 opposed to investing is it changes my mental mindset around it. 0:16:40.360 --> 0:16:42.920 You see, when I think of it as investing, that 0:16:42.960 --> 0:16:45.240 means that's like active it's something I have to be 0:16:45.320 --> 0:16:48.120 actively doing, and I want to be active in my business. 0:16:48.440 --> 0:16:51.480 But saving in real estate and saving in bitcoin and 0:16:51.520 --> 0:16:54.720 other scarce assets make me think of it being passive, 0:16:54.920 --> 0:16:57.440 meaning I'm parking my money there and maybe I'm leaving 0:16:57.480 --> 0:16:59.880 it there for five years, ten years, or maybe for 0:17:00.040 --> 0:17:03.400 future generations. And so we're making the wealth, creating the 0:17:03.400 --> 0:17:06.080 wealth in the business, and we're saving it or investing 0:17:06.240 --> 0:17:09.680 it into scarce assets. Now, if you're still not quite understanding, 0:17:09.720 --> 0:17:11.600 let me give you a couple examples of trophy assets 0:17:11.640 --> 0:17:14.840 that I own today. So, for example, when the world 0:17:14.920 --> 0:17:17.760 was sort of melting down during the pandemic, people were 0:17:17.800 --> 0:17:19.800