Speaker 1: If you're serious about building wealth in twenty twenty five,
Speaker 1: then pay close attention because most people don't realize that
Speaker 1: the same strategies that worked a decade ago.
Speaker 2: They're just not going to cut it anymore.
Speaker 1: The world has changed and if you don't change your
Speaker 1: approach to wealth, you're never going to make you Now,
Speaker 1: my name is Mark Wawsas. I'm an eight figure CEO.
Speaker 1: I've built and sold multiple businesses through three boom and
Speaker 1: bus cycles, and in this video, I'm going to show
Speaker 1: you how to adapt and how to change to build
Speaker 1: and protect your wealth in twenty twenty five.
Speaker 2: So let's go.
Speaker 1: So we're going to talk about building wealth in twenty
Speaker 1: twenty five. But before we jump into that, we should
Speaker 1: just establish what is the definition of the word wealthy. Now,
Speaker 1: I believe that the definition of that word maybe changes
Speaker 1: as you're in that pursuit, as you're in that growth period.
Speaker 1: And so when I ask most people, and I've asked
Speaker 1: hundreds of people, maybe thousands of people, what has been
Speaker 1: truly wealthy mean to you? Most times they say time.
Speaker 2: Freedom.
Speaker 1: If I was wealthy, if I had enough money, then
Speaker 1: I would have the freedom to do whatever I wanted.
Speaker 1: And so that's all slimately the end goal, that's what
Speaker 1: I like to think about. However, in the beginning, being
Speaker 1: wealthy might be more about like financial independence. Do I
Speaker 1: make enough money to at least live like I want
Speaker 1: to live. Eventually it becomes do I have enough money
Speaker 1: coming in maybe passively through my business where I don't
Speaker 1: have to work as much? And then ultimately the goal
Speaker 1: is to have that time freedom, and that's true wealth
Speaker 1: for me, and that's the goal that I want for you.
Speaker 1: So when we talk about building wealth in twenty twenty five,
Speaker 1: we're really what we're talking about is having enough money
Speaker 1: where I don't have to worry about it, so I
Speaker 1: can have the time freedom. And the problem that I've
Speaker 1: seen as I've been on my career building multiple businesses
Speaker 1: and selling multiple businesses is most times people think that
Speaker 1: in my business, I'll create the wealth the money that
Speaker 1: I want, and then I'll have the time the wealth
Speaker 1: as well. I like to think of time freedom, and
Speaker 1: more importantly, not just time freedom, but time and location
Speaker 1: freedom as being the keys the hallmarks of true wealth.
Speaker 1: But most people have started this business and instead of
Speaker 1: creating a business, what they've really done is created a
Speaker 1: new job for themselves instead of having this free un
Speaker 1: in life that they dreamed about, they probably work for
Speaker 1: a worst boss themselves than they had before. And so
Speaker 1: really the key is, how do I create that business
Speaker 1: that can generate the revenue that I need to get
Speaker 1: me to the point of true wealth, which is not
Speaker 1: just having the money, but also having the time and
Speaker 1: location freedom to live that truly wealthy life. Let me
Speaker 1: tell you a story so you can understand what I'm
Speaker 1: talking about. My first company that I sold off was
Speaker 1: a high tech medical equipment company, and the company was great.
Speaker 1: I had it for about seven years. I had about
Speaker 1: a dozen people working there, and it threw off lots
Speaker 1: of free cash flow.
Speaker 2: The problem was is that.
Speaker 1: It was a physical location and I had to show
Speaker 1: up every day, and I had to manage the people
Speaker 1: that were there. I had to keep them morale high.
Speaker 1: I had to make sure that they were still working
Speaker 1: and the wheels were still turning, and of course the
Speaker 1: income was coming in. Now, I love the income that
Speaker 1: was coming in, but I didn't want to be chained
Speaker 1: down to that physical location on a regular basis. And
Speaker 1: you know, I was reading too many books and watching
Speaker 1: too many videos about the dream of having this passive income,
Speaker 1: and so I thought, shoot, well, I'm stuck in this business.
Speaker 1: One of my core values is freedom. It was going
Speaker 1: against that, which causing massive stress in my life. That's
Speaker 1: a whole other topic. And so I thought, well, if
Speaker 1: I really want the passive income, I need to sell
Speaker 1: this business, get multiple seven figures. I could use that
Speaker 1: money then to go generate what I thought this was
Speaker 1: a stream of passive income. I wanted to be free
Speaker 1: of the business and have the life that I wanted,
Speaker 1: the time and location freedom, And so I did. I
Speaker 1: put the business up for sale and I managed to
Speaker 1: sell it to the largest company, a Fortune four hundred company,
Speaker 1: the largest company in the medical device space. Now what
Speaker 1: was interesting about that is I thought I was freeing
Speaker 1: myself from that business. But the deal hinged on me
Speaker 1: working for that company for two years. Now, at first
Speaker 1: I was a deal breaker for me. No way am
Speaker 1: I going to work for somebody. I'm an entrepreneur. I
Speaker 1: work for myself. And ultimately the whole point was to
Speaker 1: sell the business, to become free from that business, not
Speaker 1: work for it for two more years and for a boss.
Speaker 1: But here's the thing, I realized that there was a
Speaker 1: gap in my thinking, a gap in my knowledge, a
Speaker 1: gap in my training. And so rather than saying no
Speaker 1: and losing the deal, I said yes, and I approached
Speaker 1: it as a learning opportunity. And what I realized is
Speaker 1: as soon as the cell went through, I got to
Speaker 1: stay in my own building, manage my own team. But
Speaker 1: they put somebody that sort of was my liaison to
Speaker 1: the company, and they helped me figure out how I
Speaker 1: could install a set of systems in the business to
Speaker 1: instantly remove myself. And within about less than ninety days,
Speaker 1: using the systems that they taught me, I didn't really
Speaker 1: have a job in the business anymore. I was still
Speaker 1: there as the figurehead, and I was still responsible to
Speaker 1: look at the numbers, report the numbers, and guide the
Speaker 1: team and the vision. But all of a sudden, I
Speaker 1: was free from the business in less than ninety days.
Speaker 1: And then it hit me, I didn't need to sell
Speaker 1: my business to be free from the business. All I
Speaker 1: had to do was follow a proven set of systems
Speaker 1: like Fortune five hundred companies use, and I could have
Speaker 1: had the freedom all along. So if you really want
Speaker 1: to build wealth, number one, you need to solve problems.
Speaker 1: You need to have a business but most importantly, if
Speaker 1: you have that business and you're feeling like you're just
Speaker 1: not getting to that true wealth position that you want,
Speaker 1: true wealth being time and location freedom, then you don't
Speaker 1: have to sell the business. You don't have to start
Speaker 1: another business. And what I tell most entrepreneurs that I
Speaker 1: coach is that within about ninety days, you can have
Speaker 1: the freedom that you want with just a few simple steps.
Speaker 1: All right, so let me give you an idea of
Speaker 1: exactly what we did here. Now, I can't give you
Speaker 1: two years of education in a very short video. I
Speaker 1: could make another video on it, but let me show
Speaker 1: you the very first thing they had me do. Now, warning,
Speaker 1: when they told me this, I thought it was ridiculous,
Speaker 1: and as a matter of fact, I pushed back on
Speaker 1: it and said I didn't want.
Speaker 2: To do it.
Speaker 1: It was ridiculous, it was stupid, it was a waste
Speaker 1: of my time. But I can tell you right now
Speaker 1: it transformed everything about that business. It transformed everything the
Speaker 1: way that I look at businesses, and it's still something
Speaker 1: I use to this day in every business that I
Speaker 1: own or operate or advise into. Okay, so let me
Speaker 1: break it down. The very first thing they had me
Speaker 1: do was come up with a spreadsheet a Google sheet
Speaker 1: back then it was an Excel sheet, and we broke
Speaker 1: down the business into what are the key things that
Speaker 1: have to happen inside of the business to make sure
Speaker 1: that we have success. So what are the daily things
Speaker 1: that have to happen and how do we measure them.
Speaker 1: It's sort of like if you went to the hospital
Speaker 1: and they took you up on a machine to check
Speaker 1: your pulse all the time. Now these are known as
Speaker 1: key key performance indicators or KPI's. Now each business is
Speaker 1: going to have these differently, and each department could also
Speaker 1: have these differently. But for the business it would be
Speaker 1: for example, in this medical device company and be like,
Speaker 1: how many calls did we get, how many orders did
Speaker 1: we get, how many packages do we receive, how many
Speaker 1: repairs do we get done, how many packages do we ship?
Speaker 1: How much revenue do we collect? Now we entered this
Speaker 1: into a sheet and every single day at four PM,
Speaker 1: I had to enter these numbers. And I thought this
Speaker 1: was ridiculous. I mean, the data is in the computer,
Speaker 1: you could just get it, right, Why do I need
Speaker 1: to pull this and put it into a spreadsheet? But
Speaker 1: every day I did. I put it into a spreadsheet,
Speaker 1: and what would happen is that spreadsheet would then go
Speaker 1: to my person above me and they would compile that
Speaker 1: with their data, and the person above them compile, person
Speaker 1: above them compile, and we get all the way to
Speaker 1: the CEO's desk every single day, so we could see
Speaker 1: through the entire business, the pulse of the business. Now,
Speaker 1: one thing about data is at first, if you haven't
Speaker 1: been looking at data on a regular basis, it might
Speaker 1: not make sense to you. But when you look at
Speaker 1: data on a regular basis, on a consistent basis over
Speaker 1: a long period of time, the data starts speaking to you.
Speaker 1: What I've learned is that we need to identify what
Speaker 1: are the core things you have to do in order
Speaker 1: to achieve the.
Speaker 2: Goal that you want.
Speaker 1: And so this is the way that life works. If
Speaker 1: I wanted to put on fifteen pounds of muscle, then
Speaker 1: I would have to create a system to do that.
Speaker 1: So how many calories would I have to eat? What
Speaker 1: types of calories would they be? How many times would
Speaker 1: I work out? What exercises would I do? How much
Speaker 1: weight would I lift? And then I would track that
Speaker 1: Here's how many calories right today? Here's my workouts for
Speaker 1: today and over a period of time, I would ensure
Speaker 1: that I was able to gain that weight.
Speaker 2: And it's no different with your business.
Speaker 1: How much revenue do I want to make, how much
Speaker 1: time do I want to get off? Whatever those goals
Speaker 1: are you have in your business, you have to identify
Speaker 1: what are the successful steps I have to do, and
Speaker 1: you have to track them every single day. Key performance
Speaker 1: indicators KPIs. Now I've modified this since KPIs are sort
Speaker 1: of lagging indicators. They tell us what happened. Now, what
Speaker 1: I like to do is take the KPIs and match
Speaker 1: them to a forward looking goal. So I don't know
Speaker 1: if I'm tracking properly or not, but that's a whole
Speaker 1: other subject. If you want me to break this down
Speaker 1: in more detail, leave me a comment down below and
Speaker 1: we can dive into this. But that's the very first
Speaker 1: thing they had me do, which again I thought was ridiculous.
Speaker 1: You might say, oh, yeah, I've heard this before, I
Speaker 1: know this, but I'm guessing you're.
Speaker 2: Not doing that in your own business. So start with that.
Speaker 1: All right, Let's put this into actions so you can
Speaker 1: walk away from this video with something tangible that you
Speaker 1: can use. Right now when it comes to making these KPIs,
Speaker 1: you want to have about five or six, no more
Speaker 1: than that, and you want to understand what are the
Speaker 1: key performance indicators.
Speaker 2: For this role. And it just depends.
Speaker 1: So for example, if I'm a salesperson, let's say that
Speaker 1: I do high ticket sales on the phone, it might
Speaker 1: be how many hours did I work? And these are
Speaker 1: waterfall metrics, meaning each one qualifies the next. So for example,
Speaker 1: how many hours did I work? I know if those
Speaker 1: hours are any good? Well? How many phone calls did
Speaker 1: I make? How do I know if those phone calls
Speaker 1: were any good? How many minutes did I talk? How
Speaker 1: do I know if those minutes were any good? How
Speaker 1: many quotes did I get out? How do I know
Speaker 1: if I put good quotes out? How many quotes did
Speaker 1: I get returned back? And how do I know if
Speaker 1: those were any good? Well? How many sales did I close?
Speaker 1: And how I know if those are any good? How
Speaker 1: much revenue do I collect? So each one qualifies into
Speaker 1: the next one that would be for like a sales
Speaker 1: based business. Okay, so now that we've done that exercise,
Speaker 1: we know what the key things are in our business
Speaker 1: and we start to track the data. The numbers Now
Speaker 1: What this shows us is which of these areas.
Speaker 2: We need to do more work in.
Speaker 1: So now we have focus as to where we need
Speaker 1: to go to improve our business. Now, the next part
Speaker 1: is how do we start getting some time back right away? Well,
Speaker 1: what we want to do is the first thing is
Speaker 1: do a time audit or a time study. This is
Speaker 1: something I do usually about twice a year, sometimes more
Speaker 1: often depending on how I feel about how clear I
Speaker 1: am and what I'm working on the business. Now you
Speaker 1: can do is low tech or high tech. Low tech
Speaker 1: is just get like an Excel spreadsheet and print it
Speaker 1: out and literally use piece of paper and a pen,
Speaker 1: and I set my iPhone up with a timer. In
Speaker 1: every fifteen minutes, the timer goes off, and when that
Speaker 1: goes off, I write down on the piece of paper
Speaker 1: what am I doing, what am I working on? And
Speaker 1: I do that typically for two weeks. Then at the
Speaker 1: end of two weeks.
Speaker 2: I look at that sheet of all.
Speaker 1: The things that I've been doing, and I categorize them
Speaker 1: and I break them down into creative tasks, management tasks,
Speaker 1: ideation task, research tasks, or whatever those categories might be
Speaker 1: for your business. Then once I've been able to categorize
Speaker 1: what I'm spending my time on. I can start to think, okay,
Speaker 1: of these tasks, which ones can I get rid of?
Speaker 1: All right, now, Typically what we want to do as
Speaker 1: an entrepreneur is start to move more towards the creative
Speaker 1: task that's our zone of genius, and away from the
Speaker 1: technical task. Technical task would be defined as something that's
Speaker 1: done more than one time. If it's done more than
Speaker 1: one time, I can create a system for that. I
Speaker 1: can just record my screen while I'm doing it, or
Speaker 1: record a camera of me doing it, and I can
Speaker 1: then give that to somebody else to do. I want
Speaker 1: to continue to move more and more to the creative
Speaker 1: time so I can spend that on the higher value tasks,
Speaker 1: again my zone of genius. So the only way to
Speaker 1: really do this is to do this through a time audit,
Speaker 1: so you can understand where you need to attack, sort
Speaker 1: of like the KPIs. It's all about getting the data
Speaker 1: so you can learn how to optimize on what you have.
Speaker 1: Those two things right there would typically save most entrepreneurs
Speaker 1: about ten hours a week if you can dial those in.
Speaker 1: All right, so now you're well on your way to
Speaker 1: getting true wealth again, time freedom, So you have a
Speaker 1: business that's now being able to run sort of without
Speaker 1: you or with less of you, it's hopefully throwing off
Speaker 1: good revenue. We can talk about that later, but now
Speaker 1: are you able to get that time freedom?
Speaker 2: Now, let me tell you about a trap that you
Speaker 2: have to watch out for. Now.
Speaker 1: Most people again think that wealth is just money. So
Speaker 1: I need my money my business to make as much
Speaker 1: money as I can, because that's true wealth. But the
Speaker 1: problem is that again the new rids think about time
Speaker 1: and location freedom. And so rather than looking at my
Speaker 1: business like a bank account, like a piggybank, and how
Speaker 1: can I extras act as much wealth out of that?
Speaker 1: If you put your investor on is how can I
Speaker 1: put money back into my business to allow it to grow,
Speaker 1: but more importantly, to buy back my time. You see,
Speaker 1: if you're only focused on the amount of money that
Speaker 1: you're making, then you're going to work eighty hours a
Speaker 1: week because you're gonna want to do every task yourself.
Speaker 1: You're never gonna want to hire anybody else to do that. However,
Speaker 1: if you're focusing on time and location freedom, then you
Speaker 1: realize that it's okay to give up some of that
Speaker 1: money to allow people to do other tasks they can
Speaker 1: do for you to get that time back. Now, that's
Speaker 1: part of becoming true wealthy is having that time and
Speaker 1: location freedom. The true pro realizes that by doing that,
Speaker 1: and if I reinvest some of that time that I
Speaker 1: get back into the business, then I'll grow even faster
Speaker 1: in the wealth pursuit. A small business owner, are you
Speaker 1: buried in all types of work keeping you from the
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Speaker 1: All Right, so we are on our quest to getting
Speaker 1: real wealth, time and location freedom. We have a business
Speaker 1: now that's running on a system. We have a system
Speaker 1: in place, we're growing, we know exactly where we need
Speaker 1: to focus on that business. We've reclaimed some of our
Speaker 1: time by doing our time audits. But now what do
Speaker 1: we do well? What we want to do is we
Speaker 1: want to use that business to get our time back first,
Speaker 1: but then we use that business to generate well for
Speaker 1: money that we then put into other assets.
Speaker 2: Now, the key is what type of assets are you
Speaker 2: buying now?
Speaker 1: The problem is that traditional education, mainstream narratives, Wall Street,
Speaker 1: and the Dave Ramers of the world are misleading you
Speaker 1: down a very dangerous path. So forget the nine to
Speaker 1: five save for forty years and put it into the
Speaker 1: S and P five hundred index or four to one
Speaker 1: kre mutual fund. Those assets are all fake. When I
Speaker 1: say fake, what I mean is their returns are fake
Speaker 1: because they're being measured against CPI or consumer price inflation,
Speaker 1: which is a fake metric CPI or CPI. What we
Speaker 1: want to do is we want to be buying trophy assets. Now.
Speaker 1: Trophy assets are assets that are unique, They're rare, they're
Speaker 1: scarce and they're a lot different than most general assets.
Speaker 1: The S and P five hundred is doing seven eight
Speaker 1: nine percent over whatever forty fifty sixty year period you
Speaker 1: want to measure it, maybe twelve percent the last couple
Speaker 1: of years. But the real rate of inflation is the
Speaker 1: rate of debasement or the supply money supply increasing, which
Speaker 1: is about ten percent per year since twenty nineteen. That's
Speaker 1: the real rate you have to beat. And that's why
Speaker 1: you look at yourss in P five hundred index mutual
Speaker 1: fund and it's going up in value. It looks like
Speaker 1: you're getting rich, but the reality is you're feeling more
Speaker 1: and more poor. And that's because they're not keeping up
Speaker 1: with the rate of inflation. So we want trophy assets,
Speaker 1: scarce assets, rare assets. And consider this like beachfront property.
Speaker 1: Consider it like lakefront property. Think of it like unique painting,
Speaker 1: a unique car. Think of it like bitcoin, something that's
Speaker 1: scarce that's hard to get. Now, let me give you
Speaker 1: an example of why this matters. Since twenty nineteen, or
Speaker 1: let's say the last four or five years, real estate
Speaker 1: in the United States, the median the average real estate
Speaker 1: across the United States has gone up by about forty percent. Well,
Speaker 1: that's about the rate of the money supply increased in
Speaker 1: the United States as well. Austin, Texas was the fastest
Speaker 1: growing city in America for about the last twenty years,
Speaker 1: and it's real estate went up a little bit faster,
Speaker 1: went up about forty five percent because there was a
Speaker 1: little bit more demand for that. But in Austin there's
Speaker 1: a lake, it's called Lake Travis.
Speaker 2: There's only so many.
Speaker 1: Homes that are lake front on the lake. Those homes
Speaker 1: went up about one hundred and fifty to two hundred
Speaker 1: percent because they're scarce, because they're trophies, because they're hard
Speaker 1: to replace.
Speaker 2: So that's where the.
Speaker 1: Rich people want to take their wealth. They want to
Speaker 1: park it. And I like to think of it as
Speaker 1: savings instead of more investing. I invest into my business,
Speaker 1: so I create more money, and then I take that
Speaker 1: money whatever I don't spend, and I save it, and
Speaker 1: I save it in real estate, and I save it
Speaker 1: in bitcoin, and I save it in other rare assets.
Speaker 1: And the reason why I use the word saving as
Speaker 1: opposed to investing is it changes my mental mindset around it.
Speaker 1: You see, when I think of it as investing, that
Speaker 1: means that's like active it's something I have to be
Speaker 1: actively doing, and I want to be active in my business.
Speaker 1: But saving in real estate and saving in bitcoin and
Speaker 1: other scarce assets make me think of it being passive,
Speaker 1: meaning I'm parking my money there and maybe I'm leaving
Speaker 1: it there for five years, ten years, or maybe for
Speaker 1: future generations. And so we're making the wealth, creating the
Speaker 1: wealth in the business, and we're saving it or investing
Speaker 1: it into scarce assets. Now, if you're still not quite understanding,
Speaker 1: let me give you a couple examples of trophy assets
Speaker 1: that I own today. So, for example, when the world
Speaker 1: was sort of melting down during the pandemic, people were
Speaker 1: starting to buy a freezer for the garage and put
Speaker 1: meat inside their steaks inside there, I bought a ranch,
Speaker 1: and so I bought a property outside of Austin, Texas,
Speaker 1: a beautiful ranch property.
Speaker 2: I have cows, I have goats, I have animals on there.
Speaker 2: I have a place for my family to go a refuge.
Speaker 1: And this is a very unique property because it's close
Speaker 1: to Austin, but it's still far enough away. And so
Speaker 1: this is a very unique property. And the reason why
Speaker 1: it's a trophy property is it's one of those properties
Speaker 1: that if you sold it, you may never get it back.
Speaker 2: That's what makes it scarce.
Speaker 1: Another example is currently right now, I have a house
Speaker 1: that I'm building down in Mexico. Again, I like to
Speaker 1: have options. I don't know how the world's going to unfold.
Speaker 1: So I bought a property in another country and it's
Speaker 1: on the beach. It's a beautiful bee each property. You
Speaker 1: might have seen me posting about it on my social
Speaker 1: media accounts. And again this is on the beach, beachfront property.
Speaker 1: And again one of those properties where if I were
Speaker 1: to sell it, I may never be able to get
Speaker 1: that property back again. Now you might say, Mark, that's
Speaker 1: great for you, you're so rich whatever. Well, number one,
Speaker 1: there's ways that we get those assets to pay for themselves.
Speaker 1: They don't cost us money. That's a whole other video.
Speaker 1: If you want me to break that down, let me know.
Speaker 1: But there's ways that we can all do this, even
Speaker 1: if you have five dollars. So I mentioned bitcoin. Bitcoin
Speaker 1: is a scarce asset and it's giving private property rights
Speaker 1: to people all over the world with as little as
Speaker 1: one dollar or five dollars. And I can tell you
Speaker 1: that bitcoin is going up at a much faster rate
Speaker 1: than those trophy real estate properties that I have with
Speaker 1: a little bit of money right now, and you need
Speaker 1: to get some trophy assets.
Speaker 2: Bitcoin is a good option.
Speaker 1: But what you realize is as you start to get
Speaker 1: more money and more wealth, you don't need every single
Speaker 1: dollar to return the highest amount to you, because you see,
Speaker 1: at the end of the day, money is not what
Speaker 1: we want. What we want is goods and services. Money
Speaker 1: is just a medium of exchange. Is the means for
Speaker 1: us to get those assets. So I want money, I
Speaker 1: want my assets to go up in value in bitcoin,
Speaker 1: so one day I can.
Speaker 2: Get the beach house. Okay, so I got the beach house.
Speaker 1: But there's ways that each one of us can get
Speaker 1: those trophy assets right now. All right now, I need
Speaker 1: to give you one more reason why you need to
Speaker 1: consider the types of trophy assets that you buy.
Speaker 2: Now.
Speaker 1: In the bitcoin community, which of course I'm a big
Speaker 1: member of, we see this raging debate NonStop about what's
Speaker 1: better bitcoin and real estate, Bitcoin and real estate, and
Speaker 1: I think it's the wrong question. The right question is
Speaker 1: how do I use different types of assets in the
Speaker 1: right sequence to end up with more of both? Now,
Speaker 1: how do we end up with more of both. Well,
Speaker 1: there's two ways that we do that. One it's a
Speaker 1: concept I call velocity of money, which is how do
Speaker 1: I invest one dollar three times, five.
Speaker 2: Times, ten times.
Speaker 1: But more importantly for this, I want to talk about
Speaker 1: tax efficiency. You see, whether you like it or not,
Speaker 1: the government's your partner, and the government wants to take
Speaker 1: about half of your income depending on where your what
Speaker 1: state you're in, and your tax income bracket. But let's
Speaker 1: just say they want to take a big chunk of
Speaker 1: your income. And my goal is to reduce that amount
Speaker 1: as best as possible, and the government gives us lots
Speaker 1: of ways to do that. And so when I use
Speaker 1: real estate properties, I get massive tax efficiency. Tax efficiency
Speaker 1: became a big problem for me when I sold my
Speaker 1: first business because now all of a sudden, we're getting
Speaker 1: a multi seven figure liquidity event and you realize, oh, shoot,
Speaker 1: I got to pay over seven figures to the government.
Speaker 1: And so we started having to figure this out. And
Speaker 1: so when we use trophy assets like real estate using
Speaker 1: different tax incentives that are there, such as short term rentals,
Speaker 1: accelerated depreciation, cost segregation, then that gives us a way
Speaker 1: to then reduce our taxable income.
Speaker 2: So I have more after tax.
Speaker 1: Income to continue to invest into these trophy assets. All right, now,
Speaker 1: I know we've gone over a lot of information and
Speaker 1: maybe a little bit of overload, but hopefully it starts
Speaker 1: to give you a vision of something that you can
Speaker 1: drive towards. But let's make it a little bit more practical.
Speaker 1: If you wanted to start today, what are the first
Speaker 1: few actions that you would take? Well, if you're a
Speaker 1: business owner, first thing that I would recommend is to
Speaker 1: get those KPIs in place and start tracking those today,
Speaker 1: not tomorrow.
Speaker 2: Today.
Speaker 1: Number two, I would do the time tracking study to
Speaker 1: understand where you can save time. If you want a
Speaker 1: time tracking study, you can download. I'll put a link
Speaker 1: down to the description down below. And if you're not
Speaker 1: a business owner, then you might want to watch this
Speaker 1: detailed blueprint I've given out in this video of how
Speaker 1: to go from zero to one million in twelve months.
Speaker 1: As I break it down into monthly milestones, you can
Speaker 1: follow along and you can watch this video right here.
Speaker 1: I'll see you over there to your success.
Speaker 2: I'm out