EP 369 // How To Run A Business While Taking A 12 Month Vacation // Jackson Millan

EP 369 // How To Run A Business While Taking A 12 Month Vacation // Jackson Millan

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when you're deeply ingrained in your business and all roads are leading back to you and particularly if you're the main money maker in your business it can be really frightening to take extended time out of it but i've proven it time and time again with myself and our clients that when you take time away when you come back you will make more money it just happens and you need to take that time out of the business to test the systems and see what happens what's up everybody you're listening to the hustle and flow chart podcast with your boys mount wolf and joe fear jackson we're live and you are in the wilderness and it's freaking awesome man how are you doing i'm doing really well man i'm just living in the abyss yeah just trying to uh enjoy life as a traveling entrepreneurial gypsy so where in the world are you right now so i'm at a place called stanley tops which is about an hour south of sydney um in a place near wollongong and basically i'm on my way heading down to see my mum before we spend a year uh traveling around australia in our four-wheel drive and uh running our business from the road so it's very exciting we're day four now so we're still kind of adjusting i was going to say you're you're early on the road and you have the beard like you've been you've been on there for years and i love you exactly yeah man it's exciting so i mean we got connected through charles byrd and you know that guy is just a we've had him on the podcast a lot of people are just lighting up about his jv connections and processes and then got connected with you and i mean you're so dialed in with what you do as well i love your approach and um i mean so you you just you specialize in wealth creation for business owners and i thought you know like we've had some folks on before and this is always kind of a light bulb moment for business owners that are listening because i feel like this is the piece a lot of folks aren't thinking of or at least maybe they can uh maybe folks don't think they can attain that right now in their level of business or their time in business so brought you in and hopefully we can kind of dispel those myths and maybe someone wants to go on a crazy road trip for a year and still be cool you know financially and grow so i'm really looking forward to diving into it guys like i think there's a lot of us are taught to kind of shrink ourselves wealthy and like the the beliefs that we have around money and finance particularly as entrepreneurs can sometimes be skewed and aren't really conducive to creating what i refer to as a lifestyle business a business that can actually help you as a vehicle supercharge your path to financial freedom so i'm all about kind of really flipping the script for business owners helping them understand the language of money and then using their business properly to manufacture true financial freedom for for themselves and their families very cool yeah i was i was telling you right before we hit record that i just got back from an 11 day road trip with with my family and during that 11 days i probably got a total of about 30 minutes of work in you know i kind of figured out what was the bare minimum i could do on the road got everything front loaded did it all ahead of time and then saved the you know the few little things for on the road but other than those like 30 minutes that i spent i didn't manage to to get very much accomplished in the business so i'm really curious to to dive in and hear exactly how you're setting yourself up so that you're not stressed out about that kind of stuff yeah you've got to have the right systems and we've been working on for a year to really dial this in and kind of doing test trips and kind of working out exactly what life on the road needs to look like for us to be productive and because we've still got a business to run like this isn't really a holiday for us and so this is just the lifestyle that we're choosing to live so you're keen to kind of kind of pull the lid back on that and share with you guys exactly how we've how we've done it right oh man well let's let's make that a big piece and i'm i'm curious about the background so before you you got into the position into the lifestyle type business that you are running now um what was jackson like beforehand like was there a shift like a pivot moment for you yeah let's go back to the beginning because i guess but many people who kind of look at me they go jackson like you don't look like a typical finance guy like there's no kind of like like three-piece suits and like the polished look like you look like a mixture of like a hipster and a hoba and that's kind of what i'm going for i don't want to be a typical finance guy because i'm not and i got into this space because of my parents my parents were business owners my mum was a hairdresser she tried very hard to scale a successful salon and really struggled most of the way my old man was a bit of a dreamer entrepreneur at heart but didn't really stick to any of his business pursuits long enough to really see success and they always taught me good values as a kid and they always said jackson like if you want to be successful in life you need to work hard for it and this is coming from people that work 16 hour days for as long as i could possibly remember and i just i remember realizing pretty early on that there was a disconnect between what they were telling me and the reality of their situation and because if that what they told me was true they would have been squillioness but the reality was they weren't they they had to work very hard for every dollar they earned and ultimately i realized that there was something missing they were working for money as opposed to money working for them and i realized that something needed to change now this particularly kind of come to a head where my old man he's an incredibly hard worker my original mentor taught me so many great things and he basically worked himself to death and he worked for 40 years with his hope that he could retire at 65 be able to live this amazing lifestyle and kind of reap the rewards of all of his hard work and unfortunately at 66 he was diagnosed with late stage pancreatic cancer and he died shortly thereafter and it was like it was like a slap in the face for me because i could see myself going down that same trajectory of just working so hard like 60 70 80 hour a week and putting in the hours like chasing that that seven figure business at the time trying to chase all the accolades trying to fund my lifestyle of driving the sports cars and going on the expensive holidays and living this kind of like high ticket lifestyle and i realized that there's something dis there's a big disconnect this whole idea of deferring gratification for the future and definitely for like this greater tomorrow like saving for the rainy day right it just never resonated with me and i realized something had to change so i developed the mantra live for today and plan for tomorrow the whole idea of actually being able to have your cake and eat it too as a business owner because here's the thing we all have the ability to create a business that allows us the financial means to support whatever it is that we want now one of the lessons my old man taught me as a kid and i didn't really understand it when i was younger but i definitely understand it now is that anything that you can perceive you can conceive and it's just a matter of thinking big enough and most business owners are one-dimensional planners like okay i want to hit that seven figures i want to achieve this milestone i want to achieve that milestone but then all of a sudden they focusing on this one thing with their blinders on and then something else pops up and they go oh i need to choose i need to choose whether i'm going to grow my business and scale up to seven figures or beyond i need to choose whether i'm going to hire that next staff member or go on a three-month holiday and enjoy time down time with my family without having to worry about my business and there's reason it's that shrink yourself wealthy mentality it just doesn't work so fast forward you know we've scaled a multi-seven-figure business and we've got a team of 27 now we've got about 600 clients around the world and once again i'd fallen into this trap of creating a job for myself my previous business that i sold about three and a half years ago i'd got to a point that it was seven figures i could work four days a week 44 weeks a year i was making fantastic profits it was a great business but it just didn't align with my values anymore it was not the vehicle that was going to get me where i wanted to go so i sold it we started aureus and then kind of fell into the time for money trap and then i realized hey i'm not even following my own mantra anymore and 12 months ago we put the wheels in motion to get this business back to being a lifestyle business and when you've got a big business it's sometimes very difficult to turn the wheels fast enough to undo a lot of those things that you've done but luckily with this really clear north star of us leaving the plan was to leave on 30th of march i'm on my birthday um and uh we left a week late it just all fell into place we all work well to target when you set that target it's amazing what you can achieve yeah i think the thing that stood out for me there is the whole one dimensional target or goal you know focus uh what was like the the most difficult part or like was there kind of a flipping moment for you in business like where you started to kind of expand and maybe some struggles you went through during that time definitely i i find the hardest business to scale yourself out of is a business where you are the expert technician like if you understand the craft you are the master of the craft you're the the hero to the story it's like the jackson show it's the joe show it's the matchup right it's so hard for you to get yourself out of that and we call it the technician trap because you're like most of us as entrepreneurs particularly when you're running your own business and you're the technician like you're often a 10 out of 10 like you're the best that there is and there's this big j curve that the longer you remain in that technician role the bigger the j curve is when you exit out of that to try and replace yourself clients get the shits um systems break um it's so reliant on your ip and your skill set that you really have to simplify the way that you do things in order to deliver even close to the same value and it's really really difficult and i myself struggled with that more than anything and so it was about understanding well okay what do we need to do to turn this from being a service that's built around jackson as being an advisor in a wealth coach for 14 years now which is it's a unicorn it's almost impossible to replace two productizing the business and then creating the right systems the right frameworks that are conducive to our team delivering the same if not better value than if i was to do it myself that was the hardest thing i could see that it's like turning this ship you know this this big ship you've created it's like you almost have to balance the old with the new and this transition period i mean was it was it kind of like a smooth transition like that or was it just kind of like burn the old ways go full steam we tried to make it smooth because we didn't want to burn any clients in the process like we've got less than a two percent attrition rate in our client base our clients love us um our clients have been working with us for many years and the reason why we've been so successful is because we are a client success oriented business and we guarantee all of the work that we do and essentially like with money-back guarantees that if we don't get our clients a 4x roi from working with us we give them all their money back and to date we've never had to honor that arrangement because we invest so heavily in our clients success that we always get them results and the clients that do leave are typically ones that have gone the journey and they've actually made us redundant because that's our plan we want them to be able to make us redundant so we wanted to make sure that we could replicate that and the most important thing was about creating a system that allowed us to focus on the outcomes for each specific client and then turn it from being the jackson show to having a full team of advisors that could help get those clients those outcomes and hey it wasn't without its challenges like there were there were the things that didn't go to plan and and there were frustrations even still today but i think the most important thing and one of my good friends taught me this is that scaling a business is about getting prepared to have thousands of ego deaths there are so many opportunities there's so many opportunities where you want to roll up your sleeves and you want to dive back in and you want to save the day you want to be the superhero again you can't you just need to allow things to break and because systems are made to be broken when you make a system and you break it you can see the point of weakness and then you can improve it and take it to the next level and that has to happen yeah do you have any advice for people getting over that that sort of mental barrier that exists because i know what you're saying resonates with both of us heavily right like there's a lot of things in our business right now where we've said over the last what 13 years now since we've been in business we've said all right we're going to back ourselves out of this thing we're going to get somebody else to start doing it we get somebody else to start doing it and two months in we're like you know what it was working a lot better when i was doing it let me just go back to doing this again and i just feel like habits too you know on top of that and i feel like that cycle has sort of repeated itself so many times over the years of us finally going yes i got myself out of that and then a few months go by night and then we slowly start creeping ourselves back into it yeah so what sort of advice do you give people to get over those sort of mental barriers the most important thing is that we need to reposition the business as a vehicle as opposed to the destination itself because the the reality is for most entrepreneurs the business is actually the destination it is the be all and end all of their existence their measurement of success fulfillment achievement is all measured by the results they get in their business which is great like of course we should all be passionate about our business we love our business and it's it's something that we've created that we've put all the blood sweat and tears into it however it is not the destination it is our vehicle and we need to treat it as such so like look at publicly listed companies the the majority owners of those companies are not actively involved in those businesses so we've got to put our hat on and ask ourselves the question of is this if i was the ceo of a publicly listed company would i do this now or in another seat if i was a shareholder of a public listed company would i do this and the answer to most of those things i like that even the most childish don't do anything so so this is the the shift of frame now the problem is that as human beings we make the best decision that we have available on life's menu and businesses menu as well we typically always make the decision to step back into a role because we believe it's for the better good of the business now the only way that we can do that is we need to reframe the value of that decision we need to put better options on the menu so the analogy i like to use is let's say for example like you went into a restaurant and you open up the menu and you hate brussels sprouts like you're never going to order two serves of brussels sprouts right give me two of those suckers yeah yeah please i'm looking forward to being miserable tonight while i'm out eating dinner with my partner right you never do that you order something and it's only in hindsight that you realize that it's a bad decision so this is not about removing bad decisions from the menu this is about increasing the quality of the decision so how do we create different frames of reference different ways of looking at things and validating our decisions that ensure that it is actually for the greater good of the business because ultimately you've only got so much time and your time is more valuable likely spent in other parts of your business than stepping back into technician roles or kind of doing the doing as such yeah yeah and i mean you mentioned time i mean you mentioned your dad as well and and that whole proc because i've known too many people who've died far too young and it's the time element i don't think a lot of us are grounding ourselves and realizing okay yeah we have the ability to take on everything you know and and being in the roles that we are as ceos or you know leaders of our companies we are the ones that are basically introduced to all these opportunities and new problems that we know we can solve but you know that's a quick trap to kind of get your hands involved and start doing stuff unless you have these filters like you just said exactly and this is the reason why i created the f4 framework which is basically our north stars that we set for ourselves but we also set for all of our clients because if we can have a better measure of success of what is the actual goal that we're chasing and then we can ask ourselves the question like does this decision or what we're looking to do make the boat go faster then it makes it a whole lot easier to make those quality decisions so we aim for our clients to help them create a business that produces four hundred thousand dollars a year in profit allows them to work four days a week and 44 weeks a year and then fast tracks their way to four million dollars in net wealth so ultimately any decision that we make is does it improve my profit does it help me win back my time and it takes extended periods of time out of my business and does it allow me to turn my business profit into personal wealth and if the answer is no then why are you doing it let's go deeper on that if you don't mind yeah can we break that down to maybe some yeah i mean that is this is fascinating so i i don't know i don't know the best place to start for that but i mean the typical business owner i don't think is thinking in all these layers maybe there's a a monetary yearly goal let's let's start with the 400 400 000 a year in profit where where does the 400 000 number come from why is it an arbitrary number or is it a very specific number for a reason it's quite specific when people ask that jackson do you have a love affair with the number four and again no no my my lucky number seven so i could have turned it onto the sevens but the size wouldn't work so the whole idea of four hundred thousand dollars a year in profit is that with four hundred thousand dollars a year in profit we should have the ability to live a phenomenal lifestyle and have enough surplus left over that would allow us to get ourselves on track for that four million dollars in net wealth now we've worked with thousands of clients over the years and we've been able to work out that there is a point of diminishing returns in terms of personal income like you get to a point where you go from drinking like a 20 bottle of wine to drinking a hundred dollar bottle of wine you go from drinking driving a lexus to driving a porsche right um you go from flying in coach to flying at the pointy end of the plane like does your quality of life actually get any better probably not so it's a pretty good benchmark in terms of a really great personal income that will afford you and your family the opportunity to live an amazing life and have a solid surplus now the timepiece for most people when it comes to time most entrepreneurs if they're in the right business and they love their business and they're no longer doing the [ __ ] jobs the jobs that really frustrate them that they're not best use of their time that are outside of their zone of genius most people don't want to retire most people want to retire because they get burnt out because they're too reliant on in the business all roads lead back to them they're burning the candle at both ends but if they're doing the things that light them up that fill their cup most people don't want to retire so what they would like to do is buy their time back to have a three-day weekend every single week go play some golf spend more time with the family take up your hobbies again get fit get healthy whatever it is that you want to do and then have the ability to take at least two weeks every quarter to allow you to take some down time reflect revise and have a better lens when you come back into your business because i don't know about you guys like matt for yourself with that that trip that you took like how much more clarity did you have coming back from that that time away about what you wanted to do in your business yeah a ton i mean you could even see joe's laughing over here because i came back and i'm like dude i have so many insights about our business after this trip exactly there is a direct correlation between time out of the business and the success when you work on your business coming back into it because we we need that that prop we need proximity to get things done in our business but we need distance in order to get the frame of reference and think big picture that will allow us to push our business forward so it needs to be at a bare minimum two weeks every every quarter and four million dollars in net wealth is that if we assume that we get a five percent income and forgive the uh the birds in the forest here guys so that's awesome if we get four hundred thousand four million dollars in in wealth and let's assume that we get a five percent income on that wealth we should be able to produce two hundred thousand dollars a year in passive income so if you've got your four hundred thousand of active income two hundred thousand of passive income imagine the things that you could do yep and then you can reinvest that into higher higher earning vehicles if you wish you know depending on the scenario but yeah there's three stages to this guys like we go through trading time for money so then we could trade money for time so then we can then money for money and that's the aim of the game that's how people get wealthy and create generational wealth yep compound interest and you're just basically applying it all on that front yeah 100 interesting okay yeah oh man there's there's so many different things here but i think the clarity thing so going back to the whole time and time away from your business because i've been thinking a lot about this and i know every time i go on a trip this last year has been very wonky for many of us so i think that's probably stress levels and attention on a business might be heightened more than maybe a new business so people are even more close to things but yeah taking that step back or even if it's a long three-day weekend and not being around a computer or phone and just thinking going into nature is a great way you know and just start like it's almost like a whole macro picture you know it's like you start like you came back with massive insights you're like nope don't like to do that anymore i'm not even pumped up on this well i mean speaking specifically into my road trip like what happened was i spent 11 days not focusing on the business and realized how much i enjoy not having to focus on the business and then i came back and went we need to systematize the [ __ ] out of all the stuff that we're doing because it's so much better than not have to do it i agree 100 and look that can only happen when you have that distance from your business and and like it's it's really scary to start off with like when when you're deeply ingrained in your business and all roads are leading back to you and particularly if you're the main money maker in your business it can be really frightening to take extended time out of it but i've proven it time and time again with myself and our clients that when you take time away when you come back you will make more money it just happens and you need to take that time out of the business to test the systems and see what happens so i started this all started for me when i read the four hour work week and i was on a plane i was flying to brazil and i was reading the four hour work week and i just had this like this penny drop and i go wow i don't think i can get my business to four hours a week because it's a service business i think it's a little bit far-fetched for many businesses but i think i can definitely get myself to four days and i can drastically reduce my hours and i can really test the pace so what i started doing is i started taking a couple of days out of my business so i take two days off and i come back and i see what broke what didn't work i'd fix it and then i'd go for three days and then i'd go and do it again i'd keep increasing dates because ultimately different problems are going to arise obviously at different times when you leave but also for different durations of time and i think it really tests the the the value and the the the credibility of your systems the longer the amount of time you can take out of your business that's interesting i like that it's almost like split testing or you know seeing the limits and and now you're on a you're starting a road trip for 12 months i mean is this going to be the longest time that you've ever been well not totally away but kind of definitely and i guess the whole the whole idea of it was about really using it as an opportunity to really hand over a lot of these responsibilities and only focus on the stuff that's really going to push the needle forwards for me as a ceo of the organization and really empower the team to to kind of pick up on everything else and and start being the heroes themselves i'm curious what sort of things did you have to do in advance of leaving on this trip to to make sure that you felt real confident that things were going to keep cranking along while you're gone yeah great question so when we built the business my business partner sam and i and we did our original business plan we realized that we always wanted to be top heavy on client success to make sure that we could always deliver amazing results so for that reason we built our back-end delivery teams um much faster than what we built our front-end marketing and sales team so the vast majority of the marketing and the sales activity was done by sam and i and for that reason i realized that hey look if i'm going to be out in the bush and and like not out of internet access and like not not in contact with civilization um and i'm the money maker that's not going to work so the first thing we did is we we built a quadrant system so basically any decision that we make in the business we we consider the f4 framework and then the next thing we consider is the needs of the business so we break it into four quadrants there's marketing there's sales there's delivery and there's growth and what we do is we consider that cascading from basically left to right and so we go marketing sales delivery growth and we assess okay is our marketing capacity at the moment do we have enough leads to achieve our goals yes or no and if the answer is no then we need to focus on that first next we look at sales do we have a good system to have our pipeline of prospects and leads turn into paying clients then delivery do we have the ability to deliver exceptional outcomes to our clients to turn them from clients into raving fans to get them to refer like crazy and do we have good utilization of our delivery team and then growth do we have enough margin and cash flow to allow us to either take chips off the table or to reinvest back in to allow us to compound these four quadrants now the areas that lacked the most for us were marketing in sales so we built a sales team and we we hired some sales people we trained them in our way i simplified the sales process because it was very much built on my ip and we got somebody who'd never had a day of finance experience in his life and trained him to do our sales wow so we proved that prove the system worked and then marketing um still to an extent i do a lot of the marketing but my the marketing effort changed it became leveraged as opposed to one-to-one marketing it's now one-to-many marketing platforms like this speaking engagements uh writing books um doing pr all of these things are what now fuels our marketing machine because we we deliver a ton of value and then people just say hey i really like what this guy has to say i want to put my hand up and have a conversation super smart so would this be a similar format you would you would uh you know kind of guide your clients through to sprint to the 400k profit is kind of looking at their business in this format 100 and what we found in our experience guys is that the vast majority of businesses don't scale because their marketing and sales machine isn't supportive of scaling most business owners have this knee-jerk reaction to hire more technicians and then ultimately they end up always remaining as the money maker and they end up spreading themselves too thin between being a technician being a manager and being a leader of the business you can always find technicians to do the job that's typically the easiest part as long as you've got a systemized and productized service offering so if your service offering is too complicated simplify it and allow just the average person the median person when it comes to uh it comes to scaling your business to be able to do it because if you're trying to build the surface offering around you being the unicorn it's never going to work you're never going to find that person next thing you need to do is you need to get create a really simple sales system and that comes down to making sure that you're actually selling profitably one of the first things we do for all of our clients when we analyze their financial trajectory we help them build their personal financial roadmap we reverse engineer that into an income target we tell them how much profit and revenue that they need to produce and then normally they go oh [ __ ] that's a lot of sales that's a lot of clients i've got to work with and then we ask them okay when was the last time you increased your price never or a year ago or five years ago and we actually show them instead of just chasing more leads more leads more leads what happens if we increase your price by 10 or 15 or 20 and then the penny drops because ultimately it costs you nothing to increase your price if you can articulate your value then what's stopping you and then the last thing we do is we help them work out what are their numbers they need to hit so we can connect the leads that they need in their business to the outcomes that they're trying to achieve personally so if i can say hey guys you need 100 leads a month in order to hit your 400k year in profit and that's going to allow you to buy the beautiful house you want drive the car you want send your kids to the school that you want you're going to be a lot more invested to go chase that hundred leads right definitely that's that's really cool i mean i it simplifies the whole framework and it's something you can keep building on top of which is nice i mean because i would assume that's when you know that that's when the time focus comes into play it's like okay now let's start shaving off some work time of your work weeks and getting yourself in a much higher end position you know at least in your role in the company exactly and this is about putting a dollar value on that time as well because the reason why most people do like what we call the kind of the 20 tasks is because they don't actually have a value on their time and time is the rarest commodity that we actually have so the simple way that we do this is we work out okay based on where your business is at right now in terms of annual revenue work out how many hours you're doing a week on average times it by the average number of weeks per year and then divide your annual revenue by that weeks per year so let's do a quick example here guys i'm just going to pull out my trusty calculator let's assume that you're doing 60 hours a week and you're doing that 48 weeks a year so that's 2880 hours and let's assume that you're doing a million dollars a year in revenue that means that your hourly rate is 347 dollars an hour and of course if you can reduce the number of hours you're working it means your hourly rate is higher right so what tasks do you do that you couldn't outsource for less than three hundred and forty seven dollars an hour not many right yep yeah so yeah you start going down the list it's a quick yeah it's a quick thing you're like oh nope can't do that nope nope nope well i'm curious because there's there is a little bit of a chicken in the egg thing there too so like let's speak specifically to maybe smaller businesses that are kind of early on in their their growth phase and i think there's there's some struggles with feeling comfortable going and hiring so that that's when they sort of develop all these skills right they develop the skills in the early day where they feel like they're the expert and then they never feel comfortable going and paying to outsource it but also by that point they feel like they're the expert because they've done it so well in their business there's like this chicken or the egg thing where it makes it difficult to bring in new people so you know maybe the people that are struggling right now that feel like okay i can't afford to hand this off to somebody else what would you tell them you can't afford not to because ultimately the chicken or the egg is ultimately about that you only have so many hours and by freeing up your hours and investing it into the right place you will inevitably make more money and ultimately what we need to work out is there are really low cost solutions that we have available of using vas and and executive assistants overseas that will cost you about 10 an hour and can you get you out of all of the low value tasks so what i talk about in my second book is what we call the low value task matrix so we create another quadrant that we've got high value and low value tasks and we've got love and load and what we want to do is we want to go into a time audit of the last two weeks and dump all of your tasks that you've done into each of those four quadrants high value loves high value lows low valued love low value load work out on average per week how many hours are you spending in anything outside of that zone of genius the high value love tasks now the first thing we want to do is get rid of the low value load the things that aren't pushing the needle forwards that just need to be done but and you hate doing like checking your emails like a couple of years ago i did this analysis for myself when i was writing my second book and i worked out that i was spending about 720 hours a year checking my emails now it was mind-blowing to me and i did the calculation on it and i go okay well my effective hourly rate's about a thousand dollars an hour um i need to work out and 720 hours you do the maths that's it's nearly a million dollars a year in opportunity cost so i try i said okay i'm going to commit and teach my executive assistant how to run my inbox and i want to reduce my time spent in my emails for 30 minutes a day perfect and i said i'm going to give her a month to learn it and she mastered it in three days and you're like what was i waiting for exactly so this is what we do with our clients so there's low value tasks that are wasting your time that are stopping you from going out and getting more leads closing more deals and delivering more to your clients like just delivering value so if you to get out of that technician phase we need cash flow because we need cash flow to hire and the easiest way to do it is to get an executive assistant or a va train them in those low value tasks get yourself back into focusing on winning those clients increasing your pricing bringing in the deals building up the cash flow and then higher bringing the right people that are going to allow you to get out of that technician base and you might as well start with those tasks that are lowest value it's not a lot of risk either but it's kind of training i would assume really training your mind to let go of some of these things keep snowballing that upward well i'd also imagine if you start finding a bunch of low value loath tasks you could find you probably just don't even need them at all like you don't even need anybody to be doing them exactly and that's where we can systemize them out because what we typically go through is a framework that we call delete delegate and dominate we want to go through like once we outsource the tasks initially we then task that individual with making themselves redundant from those tasks as well and because we're trying to upskill that individual over time as well because if they're learning what you're what you do and helping you become really efficient then we want to make sure that they're being efficient with their time too because their productivity is directly tied to your productivity so if there's things that aren't best used they should be focusing on improving the system using automations or different tools to be able to streamline those tasks win back their time so they can add more value to you yeah see it's a big snowball effect going across the board i love the frameworks these are these are freaking perfect i mean this is this is the stuff i mean this is wealth education kind of in a nutshell but these are the mechanisms to kind of get to that point i mean so yeah what's that what's the biggest like so if someone says yeah this is all great and all but really i don't know just do it i mean are there common sticking points or i guess excuses that you hear that stop people yeah there are the biggest laps in people doing these things because it's all common sense stuff this is not rocket science guys um but ultimately the problem is that most people don't have a game plan when it comes to what they're actually trying to achieve outside of their business and we believe that focusing on repositioning your business as a vehicle comes down to having the right game plan outside of your business and what we focus on doing is we basically help our clients go through what we call a 20-year roadmap and the 20-year roadmap basically goes through all of their lifestyle and financial goals over the course of 20 years we then reverse engineer all of those goals into an action plan an income target then into a profit target then into a revenue target then into their kpis and their activity and by doing this this now allows us to align the activity with the outcomes that they really want and this is the the catalyst for reframe now many people when i talk about 20 years 20 years guys like they go oh gosh i don't even know what i want in a year let alone 20 years and this is on purpose this is about creating a shock to the system to get you thinking bigger picture about the consequences of inaction and the benefits of doing what you should be doing with your business and using it as that vehicle to manufacture financial freedom because i think the definition of financial freedom is being able to do what you want when you want and the vast majority of businesses and business owners have just created a job for themselves so all we need to do is do the opposite of that if we can create a business that isn't a job that we can do the things that we enjoy when we want to do it and have the freedom and flexibility to live life on our own terms whether that be living in a truck and traveling around like a entrepreneurial gypsy or whatever you define that success to be then business is fun again and that's that this is a mantra actually since matt you've been back remember we've been talking and saying this a lot is like you know what we want everything to be fun simple and consistent you know so i have that momentum but and fun is first funded first with our business we've we've made it a focus that if we're not having fun with things in our business that thing needs to go exactly we want everything we focused on to be fun and i think i think this is i mean this might be a sort of shift in topic but i feel like this is something we've talked about a lot on this podcast that i think is hard for a lot of people i don't know if that's the right wording but anyway um we've talked about this a lot in the podcast about enjoying the journey like when you're as an entrepreneur you should be more focused on enjoying what you're doing on a day-to-day basis and not focused on okay i need to get here and then i'll do x and then once i get here then i'll do x you know like the the journey should be where you're enjoying it not getting to that destination right and i think that's um that's sort of an over overarching theme of our podcast that we've been trying to to harp on and i feel like you embody that with what you're doing and without your teaching well you're talking my language because my book my first book is actually entitled enjoy the journey creating wealth and living the life and desire so this is definitely my mantra and and i fall into the trap myself guys that i've always been quite goals-oriented um and you there's always that next goal and like you you're so focused on achieving that thing and when you actually achieve it you go that's nice what's next and like you don't even stop to like to reflect on like the value of your accomplishments and it just it's not sustainable because that little voice in your head is always going to say i want more i want more i want more and and it's never good enough it becomes an addiction and then that's where many people just end themselves in a position where they're down against a dark and stormy road because they've been so focused on doing the work that they're actually not on the path for what they actually intended to create in the first place and it's so hard to unwind you speak to many successful entrepreneurs whether it be um jack ma from alibaba you speak to elon musk and all of these individuals they see all of the the kind of the glitz and the glamour and the the kind of the the the billion dollar lifestyles and and the kind of the the playboy uh the playboy appeal right but when you really boil it down it's like elon musk's whenever he speaks and people say don't envy me like i'm running multiple companies i've got all of these kids i work 16 18 hour days seven days a week there's nothing to envy and that's not the lifestyle that i want and that's not the lifestyle that the vast majority of business owners that i work with want either they want to have a business that fuels their dream lifestyle and allows them to live life on purpose yeah why i mean like i know elon's sleeping at his factory a lot of times and he's he will say that it's like do you really want to do that with your business maybe yeah he's probably not the north star for all of us to embody with someone like elon like his life's mission is also the goal of his company right like the goals of his companies are to colonize mars and to provide more sustainable energy and to reduce reliance on fossil fuels right like his mission in life is also his businesses and i think for most of us and most of the people listening our mission in life isn't also the goal of our business our mission in life is to enjoy time with family travel more you know experience the finer things in life and the business needs to be that machine that makes that possible for the mission outside of the machine thought about this a lot and and ultimately my business is a vehicle for me to live life on purpose because my whole mantra has been how do i empower as many business owners as possible to manufacture that financial freedom and realize that exact outcome that you've just mentioned matt and this is about getting your business sorted so you can you can work smarter not harder creating wealth so you can live life the way that you want now as opposed to waiting until you're old and gray and then the third part of this is creating generational wealth so you can provide future generations with the opportunity to do things that fill them with purpose not have to work because they have to and this is this is my life's work and what i'm committing myself to and just educating people around achieving those milestones because i feel that if more people can create generational wealth can allow their future generations to pursue the things that they're truly passionate about because they don't have to worry about money anymore i think the world's going to be a better place and it might even be a bit of break in the cycle like if we go back to you know our parents a lot of them have have had to work a lot of hours and then before that you know like there was you know the great depression type era and there are all these like there are a lot of war like there's a lot of this like you got to work really hard kind of thing and as entrepreneurs you're right i mean we're it's kind of like the warriors of old time like we're always on the hunt we're always after the next big game or or the big thing you know and and it's hard to just appreciate the moment sometimes for us to slow down and focus on what's truly important or where we're originally after it's not just let's go hunt and kill everything you know it's like no no hold on eat what you got or maybe enjoy and uh i don't know where this analogy is going but the whole point is like yeah it's hard to turn off that mind when you're so after it yeah definitely is made and i think it comes from one of two places it comes from either social conditioning that we're in the rat race it's what everyone else is doing and so it's what we think we should be doing and we just haven't taken the time to stop and actually ask ourselves if that's what we really want or it's an indicator that there's something deeper missing you're compensating for not truly being happy or fulfilled in your life and it's a harsh reality for many and i know that i fell into that trap for a very long time um it was actually prior to my father's passing i was that individual i was constantly trying to to keep up appearances to appear to be this hugely successful people a person like uh wearing all the brand names driving the sports car um like i kind of look at me and it was a compensation for lacking happiness and fulfillment and it was only when my father passed away that i truly understood that something was missing and i wasn't living life properly yeah yeah yeah no i i actually really you know obviously i'm going to qualify this with the the coronavirus and the pandemic was a horrible thing and and and all that but there is some good to come out of it and i think one of the things that is sort of a positive that come out of it is the way businesses are kind of trending and the way the the sort of workforce is trending right now i think it's been a big eye-opener for a lot of companies that hey we don't need people to come into the office every day but it's also been a big eye-opener for the employees realizing there's actually a better way and maybe this whole like nine to five five days a week sort of thing isn't all it's cracked up to be maybe and and i do really think that the the coronavirus pandemic sort of shifted the way a lot of people think about work and lifestyle and how they blend together and and i really do think we're sort of in a time right now where people realize like you can kind of blend the two together and there there can be fluidity between your personal life and your business and you can you know travel and still work for somebody else and and that sort of thing i think that's one of the the really good things to come out of the the pandemic and and i feel like people like us is it's something we might have figured out a little bit earlier than that but i do feel like there's this kind of cool global trend that's happening in that direction right now i agree with that completely like it was famously said bob winston churchill if we fail to learn from history we're bound to repeat it and if we go back like 150 years the vast majority of people were self-employed like the employment didn't exist employment is a construct of of the last hundred years of the industrial revolution because they needed employees to fuel the the machine but i think now it's coming full circle and people are coming back to really wanting that freedom and flexibility and i think far more people are going to become self-employed as part of the process yeah absolutely definitely agree yeah so i don't know this is i wanted i want to see more people doing road trips like you around wherever they live or or elsewhere um and just to kind of i want to get your vision on what you're doing because i i want to get a little glimpse of like what you do i've seen your dog pop its head out a couple of times yeah i'm also curious about like sort of what you know along the same lines of what joe's asking i'm curious about like what sort of equipment you're using and how are you actually making this work on the road yeah 100 look hopefully the listeners can appreciate the authentic experience of all of the noise in the background and everything that's going on but i guess that that's life on the road um so basically we we when we realized we wanted to do this 12 months ago and we decided that we wanted an over landing vehicle because we wanted to be able to go places where other people without this type of setup could never go and we wanted to be able to go to the the the very pointy end of australia to the cape and be able to go deep into the outback and where there's absolutely no one there um you days away from from from civilization and because we wanted to be able to place ourselves in in environments that could allow us to expedite our growth trajectory because as we've already spoken about like that growth comes from being out of your business being in different environments and taking that to the complete extreme is is my objective for the next 12 months because we're so used to being able to wake up in the morning going and sitting in our office turning on our computer sitting there in comfort going to the fridge having food there all these constants that we have that allow us to be in the moment and thinking exactly around what we're going to be doing in our business in our life is super imp is it's something that we all take for granted however in this environment there are no constants like i've got my dog here that's running around there's there's stuff that's happening around and we're moving every single day and there are absolutely no constants anything can happen and my mission is to work out how can i thrive in an environment that is constantly changing because if i can do this in this environment i can do it in any environment and i think that's a really powerful lesson so basically to give you guys a bit of a rundown we've got a toyota troop carrier and it's got a a pop top roof so if you look up there that's our bedroom and inside the back of the truck is our kind of office area and when the weather's not too great we've basically got our setup in there with a couple of desks and basically we've got solar on the roof we've got a lithium system uh i'm basically powering that from an inverter that's run by the solar at the moment and we've got basically everything that we need to have a house on wheels it's just a just a very very small house that we've got to uh we've got to learn to uh to live with so obviously as we said we're only about four days in so we're still getting used to uh to what that life looks like but i'm enjoying it so far it's um it's that excitement of the unknown that that i've always tried to chase and i think more people have to have the courage to throw themselves into the unknown and see what happens because that's where growth happens yeah man well you literally have a business as a vehicle because your business is printed on the side of your vehicle behind you which is really it's awesome so and it also makes a great colorful backdrop for videos and it does so anybody anybody want to know what he's the visuals he's showing you can go over to the youtube channel and see the video version i'm impressed man i'm just like i'm happy we we connected and thank you for sharing all these frameworks because you went deep with us and um like we're i know you have a podcast as well so talk a little bit about how folks can go find you listen to your show maybe work with you as well yeah so i've got a podcast called enjoy the journey podcast uh aptly named yeah so we've our main platform is spotify so feel free to find us there and i've also developed a 40-point business performance scorecard because what i find is that most people just don't know the options that they have on the menu and what they need to improve so it's super important to understand exactly how you're tracking in pursuit of using your business as a vehicle to create financial freedom and understanding what you need to be focusing on now out of the 40 points the average score is about 18 out of 40. which and we've run this with thousands of businesses so it actually means that the vast majority of businesses are below average but the good news is that typically when people do the scorecard they can improve their score by about 10 in 30 days or less so i'll give you guys the the link to that to add to the show notes and we've also yeah we work with service based business owners to help them increase their cash flow improve their profits and build personal wealth so if you are a service business anywhere in the world um you're looking to up your money your finance your profit and your wealth game and you'd love to have a conversation i'll also include a link for you guys to book a time with my team and have a conversation around how we can help you help you map out a game plan and and see how we can support you in pursuit of financial freedom right on my man well cool well yeah we'll link it in the show notes uh so you know to get that everyone throw them in all the news that we offer yeah so awesome anything else matt oh no we cover a lot of ground i feel like i feel like this conversation the timing of this conversation for where we are in our business right now was just like insanely spot-on so i really really appreciate you spending the time because i mean it was really valuable and i think it it hit home with both of us pretty pretty heavy so appreciate you man thank you my man appreciate it i'm glad for that guys it's been a pleasure and looking forward to catching up soon bye

2021-04-30 07:55

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