This podcast episode, hosted by Taylor Welch, features his personal story of going from poverty to making real money. In his story, Welch explains how he went from making $35,000 per year at a real estate company to making a freelance book of clientele that allowed him to make over $25,000 in one month. Welch emphasizes that in the beginning, he had to make tough decisions, such as choosing between getting an oil change and going on a date, because he was that tight on money. Welch's story serves as inspiration for those who are struggling to make ends meet, and his advice emphasizes the importance of partnering with wise people who can help determine the trajectory of one's life.

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OVERVIEW:

(00:47) I wasn’t born rich

(01:55) The decision to make a change

(03:00) A person with wisdom

(03:44) “We are freaking rich”

(05:00) Rich and poor mindset

(06:30) Your goals are so small

What if you could build a business in the modern world as big or as

small as you want without having to compromise the things that were the most

important to you in the very beginning?

This is the Wealthy Consultant Talks podcast with Taylor Welch and Mike Walker

as they share with you today, their learning lessons from stories in their

experiences over the past 10 to 15 years.

And share with you right here, right now.

Let's get into it.

What's up everyone?

This is Taylor Welch.

Welcome to a T W C Talks episode.

Mike is currently in the air flying to Nashville.

We have an offsite, uh, today with the team, and then we have

an event with, uh, a couple of clients tomorrow here in Nash Vegas.

It's a beautiful time to be alive, to be in business, to be of service.

And, uh, I thought that I would just take our normally reserved slot that we

record these episodes and take one solo because I have a, uh, a special thing to

teach you and to share with you today.

Let's start with the story.

I'll never forget the first time I made real money.

You've gotta understand this about.

I wasn't born into money.

I didn't inherit a bunch of money.

My family was middle class.

We ate, we never missed food.

We never missed a meal, but we didn't have everything that we wanted either.

We were, uh, we lived in a, in a, you know, a traditional moderate

house in a moderate suburb.

And uh, when I left for college and I got married and we started our

lives, me and my wife, we were dirt.

I'm talking like you would not believe the decisions we had to make

was like, do we get an oil change?

Do we have a a date night?

Because we can't do both because we're out of money.

And, uh, I had to learn how to budget every single penny.

Like every, I would, I would spend an hour trying to find

$3 that I couldn't reconcile.

We had a grocery budget, I, I think like 25 bucks a week for both of us.

We had a small little apartment in a suburb of Memphis t.

Server called Cordova, and uh, we had no money.

And I was like, well, this is awful.

I was working at a church and I was like, I guess this is just doing the

Lord's work, you know, like, uh, I'm getting paid in other ways, I guess.

But, um, we made the decision.

At one point, I remember it wasn't because of the money, it was

because of a multitude of different things, but she was like, baby,

You gotta do something different.

You're not sleeping.

You're, you're working a hundred hours a week.

Like there's, this isn't healthy for you.

It's not healthy for us.

Like my wife is a woman of wisdom and an advice, it's like a a, a derivative

of this podcast is when you are deciding who to spend your life with,

make sure that they are a person of wisdom, because that will determine

in many cases, the trajectory of your own life because you're partners.

You don't run your business and then marry someone and then run your business all by

yourself like they are still partnered in.

Now, that doesn't mean my wife makes every decision, like I

could just hear, hear it now.

I hear the objections now like, oh, do you ask your wife permission before you pay?

Mentor it?

No, but you know what?

I sure as hell include her in the decision.

I don't go off rogue doing my own thing all the time.

She's included in my decisions because she's a.

We are partnered on life and business and all things.

Anyways, that was the tangent on the side.

Anyways, we got into business.

Uh, I got into real estate and I, I started my own firm because I was,

uh, I was good at copywriting, I was good at writing marketing copy.

I was good at, uh, you know, mark marketing in general.

I just had an affinity for it.

And I helped my wife get a bunch of clients for a salon.

I was like, I didn't do this for other people.

And, uh, we went from making, you know, 30, $35,000 a year

at the real estate company.

Which shows you how poor I was at the church because the real estate

company, I felt rich compared to working at the church 35 k a year.

When that feels rich, I don't know where you came from, but if

35 k a year feels really good, where you came from is really bad.

And so, uh, we, we, we went from $35,000 a year to, to like, all of

a sudden I had this freelance book of clientele running copywriting for

people, and one month I build like 25.

And I was like, oh my God, Lindsay, we are freaking rich.

We, we never have to work again for money.

Like this is crazy.

Uh, because that one month paid for almost a year of expenses is how little

we, we had and how little, how little money, how little our expenses were.

And then it just grew and it grew in 30, $40,000 a month, 50,000 a month.

Then I started a business in doing consulting in addition to the copywriting.

$90,000 a month, hundred thousand dollars a month, $200,000 a month,

and, and I got addicted a little.

To this nonstop month after month, breaking revenue records,

grow, grow, grow, grow, grow.

And it was a process for me of unwinding that because when you come up poor, you

either have two options that you play.

There are two main extremes that you go to.

And if you're listening to this and you're coming from a position where you

haven't had a ton, Then this, you're gonna understand this tug of war.

The first path is because you've been poor in the past, you are afraid of

it, and you play really small and you keep yourself throttled and you don't

really push for things and you don't really reach for things because you

came up in the game having nothing.

And the biggest fear you have is going back to nothing through taking

risk, and that's how you deal with it.

The second way that people deal with it is they sell out to.

Money becomes a God to them.

And n nothing else matters except for the money.

And every single minute is optimized and it's all about the revenue.

It's all about the growth.

They have to hit their numbers.

If they don't hit their numbers, they might as well go back to

being poor, and that's how they deal with the fear of being poor.

But in both cases, the root cause is a fear that you will

go back to where you came from.

Isn't it true?

This is the fear that drives us, but people handle fear different ways.

Some people shrink from fear and some people are like, yo, I need to get

up on a plane and jump out the plane.

Like, I'm addicted to adrenaline.

I, I don't wanna go back, I don't wanna go back, I don't wanna go back.

And there's like crazy, crazy psychos and it's like I have to set

a revenue record every single month.

If I do not, I am going broke.

But there is a path of maturity in the middle.

When you realize this, you will never go back to where you came from

because that is where you came from.

It is not where you're.

It's basic and it's simple.

You'll never go back to where you came from because it's where you came from.

It's not where you are going.

Where you are going is new vision, new impact, new revenues,

new clients, new customers.

And my challenge for you today is this, simply to make sure your goals are big

enough, your container is big enough.

You know what happens when a, what's indicative When a person is

in a normal posture of growth and momentum, their old containers don't

contain them anymore because they.

If you're in the same place you were five years ago, there's something wrong.

You have to acknowledge that there's something wrong.

You're not growing.

Your old containers are containing the same thing, which means

what's inside the container.

You is not growing.

It is normal.

It is good.

It is healthy for you to outgrow different containers, different seasons,

different people, relationships, cities.

I'm not saying that you should nonstop be addicted and addicted

and addicted to like constantly buying a new car every four months.

That's what I'm saying.

But your goals should be big enough that they can contain more than just you.

Some of you're listening to this and you need to up-level your goals.

Your goals are freaking small.

Listen, you have an obligation to accrue wealth and resources greater

than you can currently imagine.

Why do you have that obligation?

Because there are people in the world that.

There are people in the world that need the example.

There are people in the world that need funded.

There are churches that need funded.

There are missionaries that need funded.

There are nonprofits that cannot survive without the wealthy

funding those initiatives.

The question you have to answer is, are you going to be one of those people who

is funding those initiatives, or are you gonna be one of those people who retreats

back into a place of safety and protection because you are so afraid of going?

To where you came from.

That's all I got for you today.

Audios, you're amazing.