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Where do we start this?
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An answer doesn t matter.
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We re having a good time, right?
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He couldn t wait to get in here.
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You need sales balls to make sales calls.
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I m tweeting that puppy.
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Okay.
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Welcome to the Cellar Dye Podcast.
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We re your hosts, Jeffrey.
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And Jen Gietemer.
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I m the author of The Little Red Book of Selling and 15 other bestselling books and the creator of the seven figure sales formula program.
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I grew up in Philadelphia, sold in New York City, but was smart enough to move to Charlotte, North Carolina.
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And I m the author of Sales in a New York Minute and creator of Breakthrough Business Babe Community.
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Fun fact, I m obsessed with our dogs and consider them humans.
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If you have a dog, you know exactly what I m talking about.
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SellerDai is for sales professionals, sales people, sales managers, entrepreneurs, and business owners who want to sell more at full price
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earn loyalty, and have an unlimited stream of referrals.
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Every single episode is gonna give you real-world, easy-to-implement solutions so that you can get your calls returned, your proposals read and acted on, all while creating relationships that you can take all the way to the bank.
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It s time to sell or die.
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We are joined today, you diehard Jew, by a person who actually understands the meaning and the value of money.
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And while you have credit cards and you might even have some cash, which is becoming a rarer commodity than anything I ve ever seen in my life,
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All of a sudden, there s hundreds of billions of dollars worth of nickels and dimes, and now you can t find them anymore.
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I don t know, they may have buried them in Cleveland or something.
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But Luis Yanez is an expert in finance, investing, and money.
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And I want to make sure that each of you
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understands what you need to do to earn yours and keep yours, and the part that you invest can grow.
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Please help me welcome the great Louis Yanis.
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Thank you guys for having me here.
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It s just a pleasure.
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I enjoy talking to you guys always.
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It s great to be on your podcast.
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All right, cut with the compliments.
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Let s get rolling here.
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Yes, you are correct though.
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We are great.
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And I appreciate you telling us that, but we re at the end of 2021.
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For a lot of people, it was a trying year.
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Any argument with that?
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I think it s really been kind of bifurcated.
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Some people it was really trying and other people made a ton of money last year.
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Yeah.
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That s always the way, but the ton of moneyers I think are a little bit fewer than in a normal year.
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A lot of people that have struggled with business, with whatever governmental policies exist in their community, whether it s a lockdown or a mask or a mandate, there have been rules that have been set in place that have never been set in place before in the history of the country.
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And we re having to deal with those.
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And I was wondering how you look at that from a financial perspective.
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How has that affected some of your customers?
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You know what, the customers that have followed the basic rules of good money management have done well throughout this, or they have not gotten hurt too bad.
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And let me explain a little bit, because one of the basic things that you want to do as any individual, you want to actually take a certain amount of money and you want to have a reserve that can put you through some bad times.
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And if you haven t been able to do that.
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that that really makes it really tough.
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So if you can put a year away, two years away of just liquid money of your expenses, you know, whatever your expenses are, have that set aside.
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Then when these rough times hit, you re prepared for it.
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So you really want to have, have your money bucketed in a few different ways.
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One is that reserve.
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And then you want to have some kind of intermediate term money where you re, you re more tactical, where you re looking opportunistically for things that can make money.
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but you re managing your risk along the way.
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And then you want to have some long-term money where you re really trying to get great rates of return long-term.
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And if you basically ask me to touch that money within the, you know, 10 years, I m going to like want to slap you across the head.
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You know, just, you re really holding it long, long-term.
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What s long-term then, like 40 years?
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10 years.
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When you think about the 10-year money, you think about the kind of five to 10-year money, and then how to be bulletproof if something goes bad.
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At least six months for people, if you have a two-income earning family, you want to have at least six months of liquid assets to pay for your expenses.
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If it s a single earner, you want to have at least a year.
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And if you re really conservative, up to five years.
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We re not that conservative.
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We re conservative, but we re not that conservative.
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It s interesting how many people might be liberal or conservative politically, but not the same fiscally or financially.
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Oh, that s true.
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Yeah, we have clients that are, you know, more liberal who say, I m glad that they re talking to me because I kind of just kind of, I m more of a rational, I m a little bit more libertarian minded.
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Yeah, I can see that.
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Are there mistakes that people are making that you should avoid?
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Absolutely.
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There s a lot of mistakes that are happening right now.
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It s actually rampant right now.
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What we re seeing is a lot of people are focusing a ton of money in technology companies that are way, way overpriced.
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We ve had an amazing run in tech stocks.
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And if you look at the value of these companies, they are extremely expensive relative to their earnings capabilities.
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So we re due for some breather there.
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And the last time I ve seen it like this, you know, it s been the dot com bubble.
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We saw similar type valuations.
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So people need to be thinking more towards owning real assets, things like precious metals, real estate, income oriented properties, and then owning the types of companies that make sense that can have pricing power with this inflation that we re seeing, which is likely to stay with us for some times.
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And we may even start to see interest rates rise at some point.
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Will interest rates rise in order to stem inflation?
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It kind of works the other way around.
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Inflation drives interest rates.
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So when we put money away in bonds, for example, we want to get compensated for inflation.
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So if inflation is going up, we re going to demand more interest rate.
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Theoretically, we should.
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Right now, we have what s called negative real interest rates, where the inflation rate is higher than the actual interest you can earn.
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And that s not sustainable.
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So that s gotta resolve itself, meaning that either rates are gonna rise or inflation should fall.
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Given what I m seeing, I think that rates are probably gonna rise.
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This is so interesting to me.
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When do you think is the right time?
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I m thinking about our salespeople, our business owners who listen, our diehards.
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And many of them already have financial advisors and many of them don t and
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don t even know if they should.
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Like, when is the right time to consider, oh, I should talk to someone who can help me with this versus like, just keep making more sales.
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If I keep making more sales, I ll have enough money in the bank.
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And then, you know, like, how do you know if you re ready?
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to talk to a financial advisor, I think when you ve got to the point where you re actually saving.
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So let me back up a little bit.
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The first thing I think entrepreneurs need to do, because I think a lot of salespeople and entrepreneurs are kind of in the same bucket, is they need to make sure that they re getting that positive cash flow situation done.
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And that means you look at yourself and say, am I in my unique ability?
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Am I matching my strengths to what the marketplace is demanding and earning enough money?
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And if you re not, get that figured out first.
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The second thing is once you ve got that rolling, you ve got to make sure that you don t let your expenses rise faster than your income.
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A lot of people, what happens is, especially salespeople I ve noticed, they ll tend to have amazing sales, but they ll raise their basic standard of living such that they don t have flexibility enough, enough room.
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So when times get a little bit rougher, they re still not saving.
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So they go in this up and down and up and down of saving.
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You got to get out of that cycle and give yourself room so that you can consistently save.
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Otherwise you ll never get ahead.
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And so is there a particular percentage you recommend someone saves?
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It really depends on their situation.
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I say as much as early as possible and as much as possible.
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Yeah, that s really the bottom line.
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But don t just throw the money into crazy stuff.
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You have to have a system.
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But getting back to the advisor, I want to answer the question about when do you talk to an advisor.
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I think generally a good financial plan, anybody can do that.
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Anybody can get a good financial plan once you ve got to the point where you re starting to save.
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You ve got to handle your current situation first.
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Once you ve got that situation done, then I say hire a financial planner.
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But make sure it s the right kind.
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Make sure it s somebody who is independent and unbiased, somebody who s not getting paid by commission.
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That s my personal view.
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Because you may not get unbiased advice, because they re going to be biased based on their products that they re selling.
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You want somebody who is fee only, somebody who is a fiduciary, who is legally responsible to be on your side of the table,
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to answer questions that are for you, not based on what their company wants them to sell.
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Isn t there a syndrome where when people start to earn money, they think it s never going to end?
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And so they think, I ll do this later rather than now.
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Let me have a good time now.
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Yeah.
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You know, I think that whole deferring gratification is the biggest challenge that people have.
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So the way you get around that is you have to actually pay yourself first.
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It s an old adage, but it does work.
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The first, you take the first amount of money that you get and you just take some percentage, even if, okay, let s say that you have a lot of expenses relative to your income right now.
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Just take a small percent something and get in the habit and then start increasing it over time because you won t miss it.
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If you take it right off the top, make it automatic.
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That s an interesting statement.
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You won t miss it if you take it right off the top.
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Like you won t even notice because it s like, you ll just cut out that extra Starbucks or 10 extra Starbucks and who knows?
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Like, you know, all the little stuff that adds up in order to compensate for what you have.
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That s right.
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But the big thing is to get your top line income going up as rapidly as possible.
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And that s the sales part, or the entrepreneur part.
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Getting yourself to where you have the vision right for your company, you have the right capabilities for your company that your clients want, and you have the reach, and you re increasing your reach so that you re growing.
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If you do that, then you re going to have the money to do all these things.
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And a lot of people, they haven t gotten past that first.
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You ve got to do that first.
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That s 100%.
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And that s why talking to you guys, getting more sales in the door, that s, you know, that s, I think a lot of people need to start with that.
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Once you get that, then be sure that you re saving along the way.
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Don t celebrate.
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You want to celebrate too, because if you don t celebrate and spend some of it, you re going to, you re going to be sad, right?
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Your life s going to suck basically, but you want to celebrate and save at the same time.
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It s interesting that it starts with making a sale.
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Yeah, absolutely.
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I may start with preparation to make the sale, but it s, you know, your capital flow starts when someone s willing to pay you.
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and how much they pay you really is determined by how hard you re willing to work, how smart you re willing to work, how prepared you are to work, how mentally up you are to be able to get out and do it, how dedicated you are, what your desire factor is.
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Those are the elements that can create the atmosphere for a sale.
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And then it s a matter of, okay, I made it.
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I got to build this relationship so I can make more sales, but I got to take my money and be smart about it, not just be happy about it.
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Very true.
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And I always recognize that no matter what business you re in, there s going to be ups and downs.
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So give yourself a little room, you know, as you grow.
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Most salespeople don t think of down.
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They only think of up.
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Yeah.
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I mean, definitely always looking for the up, but prepared for the down.
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It takes pragmatic bastards like you to throw ice in the hot tea.
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But it s good, you know, hi, my name s Lewis, I carry ice.
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What do you mean?
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Well, just in case you need a bucket dumped over your head, I got it.
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You should get those plastic ice cubes and just that s your business card.
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No, I m actually mostly about opportunity and you know, opportunity and then manage risk while you re seeking opportunity.
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That s the whole name of the game.
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And is that what you talk about in your book, the financial freedom blueprint?
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Yeah.
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And the book I talk about, I lay out seven steps to accelerate your path to prosperity is, is kind of the subtitle of the book.
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And I came up with that because that really is what it s about.
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It s about taking those steps that are actually going to lead you down the path.
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And most people really, all people need to take those seven steps one way or another.
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And if they miss any of those steps, they re going to have some problems somewhere along the way.
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So,
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I talk about how you lay out your goals, how you find out where you are, how you figure out where you re trying to go.
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A lot of people, they can t figure out.
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They just don t have the clarity about knowing where to go.
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And really, about a third of the battle is just figuring out where the hell do I want to go.
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It s not easy sometimes for people.
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But when you get that down and you get more clarity, then you can take really good action steps.
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But you don t have to necessarily do them sequentially, but you really need to go through these things.
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And I found that people that don t go through them wind up having problems down the line.
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And then I talk a lot about kind of the current environment too.
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Like we have so much crazy stuff going on with government spending.
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You know, we ve got, we ve, you ve got to invest differently.
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In fact, when you said something that really stuck with me, Jen, you said that you don t want to invest like your parents did.
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That is absolutely true.
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I m saying that all the time now, because the way that we are going to be successful now is not how your parents were successful.
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You have to think about what is the future and then do away with and eliminate
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the things that are from the past that are not going to be able to move forward.
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The Tesla is a prime example.
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That is the future.
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We want to be aligned with the future.
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And then we want to eliminate those things from the past.
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And it s happening very rapidly with all the technology that s happening.
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Yeah, it s interesting because, you know, my dad is very good at stocks and I just, I look at what he does.
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And even though he s been very successful at it, I can see all these new things coming in, you know, like cryptocurrency and NFTs and just various other elements in the market.
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And also like,
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what s going on in everything changing right now.
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It feels like everything is changing.
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And it seems like, and I d love to hear your take on this, but it seems like now more than the past a hundred years, how you invest your money is drastically, or how you should invest your money is drastically more different than ever before.
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Yeah, it s technological revolution.
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And we ve had periods like this before.
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This is not new in some way.
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Because when we had the industrial revolution, it was the same scenario.
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You had a lot of companies that were disrupted and new companies coming in.
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One thing I want to go back to is the way that investors did in the past where they thought about value and buying good, solid companies.
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There s really nothing wrong with that.
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The key difference, though, is you need to make sure that those are the adaptable companies.
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Because those companies that have solid businesses right now, their businesses may not be solid five years from now and 10 years from now.
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So you want to attach yourself to those companies that have solid businesses now that have that future.
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They have the management team and the products and services that are in high demand to adapt to the future.
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If they don t, and there s regulations that are going to keep them from doing that, you just want to eliminate them from the portfolio.
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Too many people are buying all the stocks.
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They re buying index funds and mutual funds that own everything.
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I don t believe in that.
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I don t think that s the way to go.
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I think you want to differentiate and eliminate it in your portfolio.
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Still diversify, but differentiate from the past.
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I want to throw one more thing into this.
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My dad taught me the secret of inflation in 1974.
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He said, earn more money, son.
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And that will eliminate some of the crap that s going to happen.
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But there s a difference in the way you look at the world right now.
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You either see
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good or bad.
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And the people that complain about the fact that gas is now $3 a gallon aren t looking for opportunity of what else they can do.
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They don t say gas is three bucks a gallon.
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Let me test drive a Tesla.
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They don t look at that next thing.
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They re complaining about the old thing and they live in, they wallow in that horseshit.
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I think a financial advisor with a bright outlook can actually help the person who s moaning about this shit costs more, whether it s diapers or gasoline, everything costs more.
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What s your point?
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Yeah, you have to put yourself in a position where your personal income and your personal assets are growing at a faster rate than taxes and inflation.
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And the way you do that personally is by being in your unique ability that is matched with the marketplace, where the marketplace is willing to reward you.
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And you have to figure out, it s your job to figure out,
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Where am I adding the most or creating the most value in the customer s eyes?
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One of the most important things I did this last year was we videotaped a bunch of our clients.
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We had a third party person video our clients and ask them a series of questions and testimonials.
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And we learned that a lot of the things that we thought were important were not what the clients were valuing.
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So focus on what your clients are valuing, and then you re going to get a lot better results.
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You re going to grow faster because you re going to have more people like them that you can duplicate, do better for.
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And you re going to really understand what it is that they value.
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And what they re valuing from us is not only the growth and the investments, but it s that peace of mind of knowing that it s like what you said, Jeffrey, turn your peace of wealth into peace of mind.
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That 100% defines it.
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We all want peace of mind with our finances.
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Let s go back here, though.
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Lewis just gave a gem and then defined it so he ran over it.
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He went back and videoed his customers, which he erroneously calls clients.
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And the challenge for you, Diehard, is do you know what your customer really wants?
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Have you ever asked your customer to, you know, let their hair down just a little bit and talk about what they want out of life, not just out of their business?
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What are they hoping for?
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What s their goal?
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Not their financial goal for 2022, but their family goal or their personal growth goal.
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What are those things?
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What are they keying on in this year that they haven t had a chance to key on last year?
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Masks and mandates, mutually exclusive from those questions.
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And to bring it back to what Louis said at the very beginning, it s really understanding their five to 10 year goal, their five to 10 year outcome that they re looking to achieve.
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You know, I talked to an old friend of mine this morning and generally have to talk about it because he wants a, he wants a networking advice and he s willing to pay for it.
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He goes, you know, I really I can t really deal with that right now because I have kids that are still in college.
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His thought process is defer until I pay for my kids college.
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And then he has that until then syndrome.
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And I think that s a bad syndrome because what happens is you get locked into that crap, into that thought process, and you re complaining about the fact that you have to educate your kids.
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Take it, Louis.
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Inaction is costing a lot of people a lot of happiness and wealth.
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It s the until then syndrome hurt me early in my life.
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I ll tell you a quick story.
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I always thought, you know, I got to finish college before I m going to get married.
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I m going to wait till after I get that career before I have kids.
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I m going to all these different things that I laid to do later.
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SPEAKER_00
I look back now in my life and I go, that was stupid.
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SPEAKER_00
I should have had my kids faster.
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SPEAKER_00
I should have, you know, who can, I was going to have the career anyway.
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SPEAKER_00
I got the job.
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Eventually I would have been fine getting married sooner.
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I would have all these things that you think I m going to do later.
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You wind up actually hurting yourself.
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And especially with finances, because there s this compounding effect.
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If you don t start investing and save saving early, it costs you a ton more later because you have to put a lot more money in to catch up.
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It s a bad thing.
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I just wanted to just add to Lewis.
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My parents did not plan to have me.
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They just had me.
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And I used to sign my postcards home from camp.
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You re a costly accident.
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Oh man.
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So going back to what Lewis said, the compounding effect is huge.
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I mean, think about if you had started saving since you were five years old, you know, and like, look at what we re doing with Gabrielle, where we take a portion of her allowance and it automatically, automatically, there s no option, transfers it into a savings account.
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And the only way it can come out is if I sign off on it.
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So.
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And so it s like, there is no choice because this kid is gonna learn the value of that because she s gonna like saving 10 or $20 a month doesn t feel like a big deal to her right now, but what it can create for her and her future is huge.
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And I have this concept and everyone thinks it s crazy.
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SPEAKER_02
And so I know I m onto something with it where
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By the time I m 40, I wanna be retired.
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And what I mean by that is I don t wanna stop working ever.
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I wanna work.
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I love working.
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But by the time I m 40, I want all of my things, my investments, all my financial elements to be affording my lifestyle so that everything I bring in is gravy.
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And that everything I do, I literally do,
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all the time because that s the cool, fun thing right now.
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It doesn t matter.
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And if I want to go play tennis for four hours in the middle of the day, I can because all of my investments are working for me.
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And so it s a hefty goal.
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Lewis is going to be signed up to the task of figuring out the how.
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I m not figuring out the how.
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Keep in mind, Diehard, Jen s 39 and a half.
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So she s- No, I m 38.
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I thought I was turning 39 this year, but I only turned 38.
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So you got two more years to play.
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Right.
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So Louis, you have two years, no pressure.
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That whole concept of, I call that independence day.
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When you have enough assets working for you, where work is optional,
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You know, it s just, that s where everybody wants to be.
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You want time freedom.
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You want relationship freedom.
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You want to have all those freedoms to do.
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And I think that s when you do your best work is when you re not skewed, when your brain is not skewed on those things that are not in what you re put on this place, this earth to do.
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Like you got to get yourself in that position as fast as you can and get yourself out of the obligation.
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Do it on the, I want to do this kind of bucket.
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As you look at Lewis,
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He s comfortable and he s secure.
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If he wasn t, he would have already held up his book, correct?
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Okay, cool.
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So our podcast listeners can t actually see that, but we ll share a link to the post to the book in the show notes for sure.
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SPEAKER_00
Yeah.
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You can go to path to real wealth.com path to real wealth.com.
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And then you can, you can get a, see about the book.
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SPEAKER_00
And then also my, my podcast is also on there too.
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If you want to hear conversations, I just had a conversation with the CEO of a, of a major investment firm.
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It was a really, really cool.
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Learned a lot from him.
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So anyhow, but yeah, you know, the thing about the book, let me tell you about the book.
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I m actually giving a lot of, I m giving 50 of these books away in the very near future to high school kids.
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because I believe every single high school kid should be required to take financial literacy classes because the financial illiteracy is off the charts.
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People need to understand the basics and people need to understand that we can t kill the goose that lays the golden eggs, which is capitalism.
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Without capitalism, you can t have your iPhone.
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You can t have all these great innovations that we have.
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So I m really, uh, that s kind of part of my vendetta too.
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It was an honor getting to work with you on your book.
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And I don t think we talked about it on the show at all, but you came to one of our writing weekends.
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It was really groundbreaking for me to do that because I was kind of in a stuck state where, you know, yeah, you have to keep in mind, I m a numbers financial guy, so I can write, but my writing is really dry.
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SPEAKER_00
What I learned from you guys is that, Hey, you need to be able to communicate and get your points across easy.
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And in a way that s understandable and how to tell stories and how to get your outline, how to lay out your book.
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So if anybody out there is wanting to write a book, you just, just sign up.
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SPEAKER_00
Don t ask about the money, just sign up.
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do it, you won t regret it.
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SPEAKER_00
So it helped me go fast, actually, basically sped me up.
2
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When the money guy says don t ask about the money, you know it s good.
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The return on investment s not an issue.
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It s not return on investment, it s return on your life and your career.
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It s return on your image and your character.
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Obviously, it is a huge return just based on your own personal gratification.
2
SPEAKER_01
When you take the book out of the box and it s your damn book, it s a whole other thing, isn t it?
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SPEAKER_00
Yeah, it definitely is.
2
SPEAKER_00
You know, it s like, I don t know if you ve ever read the book, The Artist s Way.
2
SPEAKER_00
Yeah, I actually have.
2
SPEAKER_00
So one of the things they talk about there is being an artist, if you re a writer, you re an artist too, to some degree.
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SPEAKER_00
It s a little bit scary because you re always thinking, what if, like, what if people think I suck?
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SPEAKER_00
What if people think my ideas are horrible?
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SPEAKER_00
What if I m really not a good writer?
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SPEAKER_00
You know, it helps you break through that because the truth is we all have something that we can say.
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SPEAKER_00
you know, some people more than others, but you know, there s, so you have to kind of think of it like art, in my opinion.
2
SPEAKER_01
Keep in mind, artists have cut off their ears, jumped off of buildings.
2
SPEAKER_01
And so I wanted to write a book called The Optimist s Way.
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SPEAKER_01
which is something about thinking that you can versus lamenting the shit that might happen that usually doesn t yet.
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And I think this is a big thing.
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SPEAKER_01
People pay hundreds of millions of dollars a year to see these people s artwork.
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I don t know what kind of a life Monet had, but I ll pay any amount of money to see a couple of paintings.
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The ideal is to get the outcome of the successful artist without all the crazy mental gymnastics.
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SPEAKER_01
But they re very sensitive people.
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They have the ability to see something with their eye and through their hand clarify it.
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And that s big sensitivity, big, big sensitivity.
2
SPEAKER_01
Wow.
2
SPEAKER_01
I, having been in the imprinted sportswear business for a decade, we hired graphic artists.
2
SPEAKER_01
They were always the most temperamental human beings on the planet.
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And from a financial standpoint, if they had 120 bucks and it was a bottle of wine for a hundred, they d buy the wine.
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So just be aware of the fact that they re not the most prudent people on the planet.
2
SPEAKER_01
Yeah, that s crazy.
2
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I m sure there s anomalies and our diehard listeners are probably the anomaly of that.
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Let s hope so.
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But I think that they should connect with Lewis as fast as possible.
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If you re making bank, you need to put someone, you know, you have a doctor.
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SPEAKER_01
you have an accountant, you have a lawyer, you need somebody to play with your money, to manage your money in a way where you feel secure about the what if, because there s a huge what if.
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And to me, if I was Lewis, I would have my business card and my title would be what if, because most people have not considered all the what ifs in the world, because no one could have predicted the bullshit that s going on right now.
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Nobody.
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SPEAKER_00
Well, some people did predict it, but those who didn t predict it may say they planned it.
3
SPEAKER_00
So we ll leave that for another episode.
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What you re reminding me of right now, one of the most important elements though, to be financially successful is flexibility.
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I have a saying that I always stick with, which is act with conviction, but reserve the right to change your mind.
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You have to have both elements.
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SPEAKER_02
So when you do all your analysis, if you ve done your work, you must act with conviction, or you won t benefit from your analysis.
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SPEAKER_02
But at the same time, reserve the right.
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If you get new information that says, hey, I shouldn t do this, and it has to be significant new information, you ve got to be able to change your mind.
3
SPEAKER_02
And too many people fall in one area, and they dig their heels in the ground, and they don t change.
3
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And that hurts them.
3
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Or people will do all this analysis, but never act on it.
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which is even worse to me.
3
SPEAKER_01
Yeah.
3
SPEAKER_01
So you brushed over a couple of things in the very beginning, warning people about tech stocks.
3
SPEAKER_01
Tell me what you think about real estate.
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SPEAKER_02
Well, in a lot of areas, real estate is really overpriced too.
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What I like personally right now is the rental business because historically when inflation goes up,
3
SPEAKER_02
Rental properties tend to have shorter term leases and those leases will go up as inflation goes up.
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So you tend to make more money in short-term rental properties.
3
SPEAKER_02
And I like the areas that are in the South where people are migrating because there s more demand that s increasing there and real estate prices are moving up at a faster rate than those other areas where there s exodus.
3
SPEAKER_02
So that s kind of what I think about real estate at this point.
3
SPEAKER_02
If interest rates begin to rise, it s not going to be a perfect uphill scenario because as rates rise, you ll have little bumps in the road.
3
SPEAKER_02
And if you can get yourself in a position where you can buy in those dips, probably a good idea.
3
SPEAKER_02
With that said, some stocks are going to do well.
3
SPEAKER_02
Probably the thing that doesn t make the most sense right now would be bonds.
3
SPEAKER_02
Bonds don t make a whole lot of sense because rates could rise, they could lose money.
3
SPEAKER_02
I think it makes sense to have some money in crypto, some money in precious metals, and to have money diversified in a lot of non-correlated assets right now.
3
SPEAKER_02
And don t rely on the government to bail you out of these things.
3
SPEAKER_02
Really?
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That s a bubble burster.
3
SPEAKER_00
I m just thinking about that comment because it s so against everything.
3
SPEAKER_00
Relying on the government, really for anything, is so against everything I stand by as an entrepreneur who wants to rely on myself.
3
SPEAKER_00
And so I was thinking about the depth of that comment of, yeah, well, who do you rely on?
3
SPEAKER_00
You rely on yourself.
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SPEAKER_00
You rely on your abilities to
3
SPEAKER_00
create and to make money and to figure out how to invest it correctly and get the right help.
3
SPEAKER_00
And it just made me go down this spiral of, okay, don t rely on them.
3
SPEAKER_00
Who do you rely on?
3
SPEAKER_00
Oh, boom, yourself, you know?
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There s three levels of government involvement.
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Number one is no reliance whatsoever.
3
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Number two is sometimes you need a crutch.
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SPEAKER_01
And number three is it s a way of life.
3
SPEAKER_01
And too many people use the government as a way of life.
3
SPEAKER_02
Yeah.
3
SPEAKER_02
The way that Jen s talking about it makes so much more sense.
3
SPEAKER_02
It s actually better for everybody because as you create, you re making other, your clients  customers  lives better.
3
SPEAKER_02
Everybody wins when you re creating and you re using your own personal power.
3
SPEAKER_02
All of society wins.
3
SPEAKER_02
There s a huge rabbit hole there.
3
SPEAKER_00
The imagery that comes to my mind is this ripple effect.
3
SPEAKER_00
You re creating for yourself, and that helps the people that you re helping, and then that helps them with the people they re helping, and like, it s just like the waves of like ripple, you know?
3
SPEAKER_01
Mushrooms.
3
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The Margaret Thatcher quote comes to my mind immediately.
3
SPEAKER_01
The socialism quote where she said, eventually you run out of other people s money.
3
SPEAKER_01
The challenge is making people realize and educating them that there s a better way of life than getting a handout.
3
SPEAKER_01
And I feel it s easy for a time, but when it goes away, you re in trouble.
3
SPEAKER_02
And that s why it s really important for like the diehards to stick with the community.
3
SPEAKER_02
When you find a community like this that has like-minded with the entrepreneurial, you have to stick with them because you gotta have the strength to be resilient and you need that support to continue on to create and to do well, because there s a lot of forces out there trying to keep you from doing that.
3
SPEAKER_02
So you got to have that support system for sure.
3
SPEAKER_01
And sometimes you re fooled at the very end.
3
SPEAKER_01
You know, sometimes you believe, believe, believe, believe and all of a sudden they take off their sheep s outfit and they re a wolf.
3
SPEAKER_02
Yeah.
3
SPEAKER_01
Oh yeah.
3
SPEAKER_01
So I liken it to a cactus.
3
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It s much easier to create the metaphor.
3
SPEAKER_01
When you re near a cactus, watch out for the pricks.
3
SPEAKER_01
I think that defines life in a, basically in a nutshell.
3
SPEAKER_01
Yeah.
3
SPEAKER_01
Yeah.
3
SPEAKER_01
Very good.
3
SPEAKER_01
It s Northeastern.
3
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You know, Jen and I grew up
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in a very fast paced, unforgiving area of the world.
3
SPEAKER_01
And everyone s in a hurry and everyone s matter of fact, not necessarily rude, but very matter of fact.
3
SPEAKER_01
And you don t have much time to make a decision in which direction to take.
3
SPEAKER_01
I think everyone needs to read Alice in Wonderland or reread Alice in Wonderland to understand that when you come to the Cheshire Cat, you need to know where you re going, not have no idea where you re going.
3
SPEAKER_01
Because you come to the fork in the road and you don t know which fork to take, you re going to wander.
3
SPEAKER_02
That goes back to preparation.
3
SPEAKER_02
If you re doing the preparation, when you have that split moment, if you ve done your homework, you know whether that s an opportunity or risk right in front of you.
3
SPEAKER_02
What is that?
3
SPEAKER_02
But if you haven t done your homework and you re just shooting from the hip, it s gonna be random.
3
SPEAKER_02
Your result will be random.
3
SPEAKER_01
It s a difference between preparation and preparation H. Oh my God.
3
SPEAKER_00
Okay, so on that note.
3
SPEAKER_01
So addressing our audience, you need to connect with Louis.
3
SPEAKER_01
At the very least, you need to get his book in your hands and actually read it.
3
SPEAKER_01
He s a brilliant investor and a very successful entrepreneur who s having a good time with his kids and his family.
3
SPEAKER_01
And I think that s an important thing to understand.
3
SPEAKER_01
He values family and life and lifestyle, but he s diligent about it.
3
SPEAKER_01
He doesn t have a shotgun, he has a rifle.
3
SPEAKER_01
And those are the elements that you can win from learning about why he does what he does and then how he does what he does.
3
SPEAKER_01
You need to know the how and the why behind it.
3
SPEAKER_01
Otherwise you re gonna have a lot of money and wonder where it went in 20 years.
3
SPEAKER_00
Lewis, give us that website again where people can go to get your book and connect with you.
3
SPEAKER_02
Go to pathtorealwealth.com.
3
SPEAKER_02
I ve got, that kind of leads to the book and WealthNet Investments, which is my registered investment advisory company, and the podcast, Market Call Podcast.
3
SPEAKER_02
That comes out every Thursday.
3
SPEAKER_01
You need to have the Cheshire Cat on the front page of your PATH website.
3
SPEAKER_01
The Cheshire Cat?
3
SPEAKER_01
Yeah, the one smiling, telling Alice that she don t know where she s going, and just say that I am, I m gonna teach you how to select your right path.
3
SPEAKER_01
Love it, love it.
3
SPEAKER_01
All right.
3
SPEAKER_00
Thank you so much for being a guest on our show.
3
SPEAKER_00
This has been awesome.
3
SPEAKER_01
Invest in the new year, in the most important person in the world, yourself.
3
SPEAKER_01
Amen to that.
3
SPEAKER_00
Until next time, diehards, I m Jen Gittemer.
3
SPEAKER_01
I m Jeffrey Gittemer, advising you to take your money and do something prudent with it, even if your ass falls off.
3
SPEAKER_01
Thank you so much for listening to Sell or Die.
3
SPEAKER_01
We hope that this episode has helped you transform the way you think, giving you new ideas, and provided you a new perspective on the sales and business challenges that you face every day, so you can get out there and win the customer all the way to the bank.
3
SPEAKER_00
If you enjoyed this episode, please take a second to rate and review.
3
SPEAKER_00
Each review helps us help more people just like you make a difference in this world.
3
SPEAKER_00
Don t forget to take a screenshot, share it in your Instagram stories and tag us at Jeffrey Gittimer and at Jen Gittimer.
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SPEAKER_00
See you next week.