Have you ever wondered how to build real wealth? The type that grows even when you're not working? The kind you can pass on to the next generation AND enjoy with them while you're still around? If you think building your business is only to earn money, then think again. In this episode BRIAN shares with us what real wealth building is and how to get there.
My Guest: Brian Walsh
Brian Walsh is considered a leading authority on entrepreneurship and human behaviour. He is the founder of The REAL Entrepreneur™, a private research and education organisation dedicated to empower entrepreneurs to live a life of true wealth, freedom and meaning. Brian is a self-made millionaire with a multi-million dollar business, which influences the lives of millions of entrepreneurs in over 140 countries. Brian has spoken live to over one hundred thousand entrepreneurs from all over the world.
Pivotal Moments
· What turning point took you from numerous unsuccessful businesses to finally pivoting and getting it to work.
· A mistake that a lot of people make is that they think that what we do is what makes us successful.
· It took Brian time to realize that it wasn’t what he was doing that was wrong, it was who he was that was wrong. True success, is when you find who you are. The journey to become the best version of yourself.
· Brian has been in business for 35 years. His failures are not failures because of what he did, his failures were manifestations of his own belief in himself and what he was worthy of.
· 2012 was when his shift happened.
· But over the last few years was the coming together of everything.
· One has to identify who they are. Look at your past and be truly grateful for it.
· Everyone has to have values. We need to understand everyone else’s values.
· Why do people start businesses? For 3 reasons: Money, people, or time. In other words we can say wealth, meaning and freedom-working yourself out of your business. We can wake up and ask our self how, can we create more of these 3 things in our life. Our business is a tool to do that.
· This focus is what 99% of entrepreneurs don’t get.
· Most people don’t use the word profit. They talk about cash flow. Paying bills. Creating salaries.
· When you start out you are creating your salary but once you have done that you can scale out.
· Wealth means you are making profit and are investing sums of money into your financial independence. Wealth is the accumulation of money and assets.
Advice
Most people’s reasons for wanting to succeed in business is wanting to be financially free. The problem is they don’t see it as that. Their void is success in business. So they reinvest in a business expand the business take it too far and push it over the edge, instead of just getting it profitable taking the money out and investing, until they are totally free. We have to exemplify this.
The only real passive income is living off investments. So once a business owner acknowledges that he can make passive income, what rules do we need to follow?
1. Listen to people who have done it.
2. If it is too good to be true, it probably is and you want to avoid that.
3. It is long and steady it is no overnight riches. Right now it is about making profit and taking a chunk of your dividend payment and put it into your investments. That is why you have a business. It is supposed to be an asset. Yet it is a liability for most people. It is a lot of conditioning.
Current Business Struggle
As your business grows, you have to keep growing. So for Brian it is a different game. It is a leadership game. He has to think about his ideas before he puts them into action. He is working on himself to being a good leader. There is still more that has to be done.
Quote
Your future is no reflection of your past.
You can have anything you want in life if you just help other people get what they want.
Resources & Links:
Part 1 of this episode where you hear more go to estierand.com/114-1
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