11 Compounding ROI’s to Build Your Wealth

Transcript

Unknown Speaker  0:01   The purpose of wealth talk is to educate, inform and hopefully entertain you on the subject of building your wealth. Wealth builders recommends you should always take independent financial tax or legal advice before making any decisions around your finances.

Unknown Speaker  0:19  
Welcome to Episode 51 of wealth talk. My name is Christian Rodwell, the membership director of wealth builders and I'm joined today by our founder, Mr. Kevin weyland.

Unknown Speaker  0:27  
Welcome to my office, Chris. Yes, the tractors are going a bit mad outside, so we're back.

Unknown Speaker  0:34  
I don't know whether it's coronavirus or mad cow disease. But you know, there's a bit of activity going

Unknown Speaker  0:39  
over. We won't sit too close to one another today. But now it's good to be back together today. And you know, we had our 50th episode last week. So we're kind of almost through the Seven Pillars now. Not quite.

Unknown Speaker  0:51  
We still got we've done a trot round though, haven't we given an insight into home capacity and pensions and investments and we've done quite a bit on purpose. property and business and we've definitely done the IP bit and see some of our students have written books and starting to power through. And john ventures we're tickling. And there's more to come, obviously joint ventures. But yeah, it's been a interesting troll through Did you have a thought in mind?

Unknown Speaker  1:19  
Well, picking up on last week's episode, we were speaking to Mike Davis there and there was a real threat of relationships and that return on interaction. Yeah, which is one of the ROI is that I know you've talked about in the past, Kevin, if I've got loads of Bora, wives, Chris, you know me. So, now that we've kind of talked about all the pillars, or lesson throats that we can draw together here, which almost provide a bit of a blueprint, almost a roadmap for someone to understand where they are on that journey.

Unknown Speaker  1:50  
What in the context of ROI I could probably do that.

Unknown Speaker  1:54  
Well, one of your key phrases Kevin is the ROI of Relationship opportunity idea. And yeah,

Unknown Speaker  2:01  
that's it. So yeah, I can and look, you know, the, we know that so many people don't make it, they don't even start the journey, you know, let alone get to the end, which is that say, we know the five levels of wealth by now, the one we're aiming for for all of our wealth builder communities at least get to financial independence, you know, that's level three, and then through to abundance and then through to leaving a wonderful legacy and these are all very laudable things. But where people get stuck and where they might want to think about, if they're getting stuck, it's probably an ROI issue. What I mean by that, Chris is, you know, if you heard from Mike, you can tell from me that I just love being curious about different ways you can build wealth and love getting distinctions from people, and I get them from everywhere, so I don't pretend like I know everything. I'm still a sponge for insights from other people. And that's the point you just made. That at the very, very beginning of your journey. You need to think, like your one relationship, one opportunity, one idea from a complete transformation of your wealth. And when you have that feeling almost childlike. It gives you a curiosity to not prejudge, because I see when people get stuck at the beginning. They don't even roll the dice. They don't even get to old camp road on the Monopoly board. You know, they're still stuck at go. But they ain't go in is two things. One is they prejudge instead of being that curious person and just be willing to explore and do things, you know, meet people and just get that started. The other thing that gets stuck on is they don't have a strong enough reason why. And the kind of interested people well, I'm interested in being wealthy. And the issue with that, Chris is if you are committed to it, you're absolutely certainly will take all the actions. If you're not committed but interested. You'll find every excuse under the sun. And we hear it, don't we? And they blame things. So the problem of not being wealthy does not lie outside of you. And the very essence of building wealth is to ensure that you have all of that control. So it doesn't matter what happens in the economy, interest rates, stock market coronavirus, nothing matters when you conclude the journey, but yes, it can derail you a little bit when you're on it. And this is why you need a reason to overcome inertia Remember we said in a previous podcast, an object at rest stays at rest unless something moves it. And you know, I'm pretty strong. So I like to kick people up the Cahoots the rear end a little bit to try and get but look, you know, it's fun and I do it for a good reason. Because I know people get stuck is their reason isn't strong enough. So if they are not pushing themselves, I'm willing to give them a little bit of a pool or a little bit of a kick just to overcome that inertia. So they're the two things that get people stuck at the beginning. So if you're feeling like you're prejudging, and you don't have that curiosity of the, you know, the relationship opportunity or idea, transformation, imagining you're going to be transformed. Because everybody who's wealthy is transformed inside, they become a different person. So you have to do that. And then secondly, if you're getting stuck, go back to your reason. Why is it strong enough? Is it powerful enough? Will it overcome when life gets in the way? You know, and it looks hard? Will you go ahead and carry on taking action? And that's where the two arrows are at the beginning. so helpful.

Unknown Speaker  6:13  
Yeah, it is. And we know that 95% of the population simply don't make it to a place of independence. Yeah.

Unknown Speaker  6:19  
And I get stuck there.

Unknown Speaker  6:21  
And we know the reasons why we hear it all the time. It's the fear of making mistakes. It's not having enough time just being too busy, perhaps thinking they don't have enough money to get started or just lack of funds. And the big one is just not really having the education not having a plan never really having been told, you know, how, how can you do this? How can you achieve this and having that belief, as you say, the mind slowed

Unknown Speaker  6:46  
Yeah, and I suppose really, Chris, if we boil it down, if we're reflecting on 50 weeks of our best effort to help people, I think probably another big one is overwhelmed. You know, it's seeing the picture is too big. Seeing the journey is too big instead of seeing the next step. And the next step is actually quite easy. Because the first step, the easy step, right? You don't have to think about how far you go and just think about the first step. It's always, always, always education. And that's the same thing about the curiosity, isn't it? It's been curious enough to say, I'm not going to prejudge the knowledge. I'm just going to spend some time to learn something and see how I react to it. And that sir, is an ROI return on intellects. Okay, so ROI, ROI number three ROI Oh, oh, yes. Okay, ROI number three, but that means you moving so you're stuck at the beginning. No reason to overcome inertia. You're not curious enough to think about the relationship opportunity idea concept. So overcome those Make sense? Step, the first step is education. Now we've given so many ideas on how to start education. Start with us. Start with somebody else, find money in your debits, get some free education, read some books, listen to something on Audible. Let something penetrate the core of an inch between your ears on start to do at least a little bit of that education. And when you do that, you'll find that if you've got a strong reason why you will do something about that, and the next thing to do, I think, is to get support. And that support, like any form of connection with somebody else is not to DIY, because the DIY journey is a miserable, lonely journey that gets you going down call this sucks. Don't say they're self serving me because we're helpers because this is not angled towards people working with us at all. Chris is just saying wherever you go and get help, whoever you choose to resonate with Find somebody you can learn to trust, you know, and that there are people trust worthy, worthy of your trust. Now if you do that, you get a return on interaction. Number four, return on interaction takes two forms. The interaction with a coach or guide, a mentor, a helper could be the interaction with a spouse or partner, a loved one. And it could be a connection to somebody else who's on the journey, usually, and ideally slightly ahead of you.

Unknown Speaker  9:40  
The reason why you would want to connect with somebody slightly ahead of you is they've already overcome some of the inertia that's held you back and they can show you the path. They can say don't go down this cul de sac. We've been there we've done that, as long as they come from a place of integrity. And that's why I'm proud of the wealth builder community because, you know, we have our community signed the Declaration, new Declaration of Independence, all about integrity, all about sharing all about helping and unreservedly and not for self purpose. It's not a promotional community. We try and stop that, obviously, one or two people will try and promote, but we stopped that. The whole idea is help. So when people help each other, and trust is involved in the whole process, then you get the very first financial return. But you don't get a financial return until you invest in the education, invest in the support, invest in connections, because you can't turn the wheel that R is going to sign you can't cheat the world. You can't cheat the wheel, you know. So you've got to get that level of support from people to try and make sure that you've taken care of the Jews. diligence piece. Now this is an odd ROI, Chris, because most people think about ROI, in kind of like a positive thing, like the return on my investment, what's the financial return. And that's what happens when you turn the wheel. But don't forget stage four, which is the DD stage, that due diligence stage. And that means your risk mitigating, you're looking very carefully about how to protect yourself, which therefore preserves the return of your investment now giving you to ensure order there. So due diligence, stage four, and the wheel of wealth helps you preserve your capital return of your investment. When you conclude the wheel. That's when you get the flow of cash, or the flow of capital. And that means you're getting a return on that total investment of your time. Your interactions, your education, you know, and you're turning that wheel. That's the first job. That's kind of like your first year as objective. So if you're on a wealth building journey, and for the most part we know and we never try and tell people, this is a get rich, quick scheme. It's a get rich certain scheme, and a get rich medium term, five to seven years for most people. First Year, actually, first month, overcome your inertia. month to 212. Turn the wheel, get something added to your asset income. So you're moving, you know, through the level of insecurity to security, and it doesn't matter how fast you go, but you should be able to turn at least one wheel. Everybody can turn one wheel and yet I don't know anybody you can. Yeah, so that would be objective number one. And if you turn it two or three times Great, yeah. But for most people want to turn anybody in doesn't matter what your time is no matter what. As long as you have combination, we don't do that you're getting nowhere.

Unknown Speaker  13:02  
And again, it comes back to the overwhelm that a Wiltern can just be a small wheel turn, it could be an extra hundred pounds a month,

Unknown Speaker  13:07  
it could be 100 quid a month, as long as it's something that meaningfully moves you towards your objective. So 100 pound a month could be a wheel turn. If it's, you know, lots of people do wealth in different ways. It could be just starting the idea of investing in tractors or something. So you're getting some money invested. So what you're getting is a growth on that money. You know, so it could be any measurement, at least if it's in the first year, you're not really so much measuring your asset income, you're more measuring your activity. So I'd say year one is activity driven. Not necessarily results driven, if you can get results as well. You're ahead of the game. Right? That makes sense. Yeah. So once you've done that, so you've got your you've done your DD you protected the return of your investment. You made the decision, you conclude your deal. You're getting a return on investment starting to measure something, something's happening. That's good. Well, for momentary is rising wealth thermometer is rising, right, but not too high, not more than 37.8. Because then you're gonna have to self isolate. So you don't want to go too high, but you want to get it moving. Once you get it moving. The next thing, Chris, it's all logical is you stop. And you pause, and you have a cup of tea in a kid. Can you have a little think? And you go, right? Was that a good wheel turn for me? Did you enjoy it? Did it give you the result? You want to turn the wheel completely and generate something for you? If the answer is no, it didn't. You discovered something about yourself, or the asset or the method by which you'd have to manage that asset that absolutely He said, No, no, no, not for me. You lift the wheel of some imaginary spindles. Yeah. Okay. You know, go talk. Yes, yes, or whatever, you know, like a cylinder. And you imagine and we're talking today you can see what I'm doing, but they can you lift the wheel off. You put it on the floor. You thank it for its contribution to your transformation. And say, thank you. We are number one, you are not right for me. Now, going back, not back to the start, because you've overcome inertia. And you've learned something, you turn a different way.

Unknown Speaker  15:40  
This is actually step seven, in a sense as to what it is. Yeah.

Unknown Speaker  15:43  
Now, we don't want to confuse too many steps in too many things in one. Yeah.

Unknown Speaker  15:51  
But our roadmap for building wealth, you know, it always comes to that point where you know, you make that decision and just to be clear for anyone listening perhaps, you know, Only a couple of episodes in and they're thinking what is what are we talking about?

Unknown Speaker  16:03  
Well back to number one.

Unknown Speaker  16:05  
So when we talk about turning a wheel, this is really a, you know, any kind of, you know, strategy within the pillars. So it could be a biter let

Unknown Speaker  16:14  
rebuttal, it could be investing in the stock market, it could be creating a business, you know, could be creating a side hustle, selling something online, it could be renting a room a home, you know, it could be any of the assets, and then the leverage that exists within each of the pillars could be creating a SAS or just doing something, just reducing the charges on your pension, it could be any number of different things that you can do. And the key thing is doing something you can measure, even if it's activity. And then once you get to that place where you found a wheel that turns you like the wheel, the wheels now adding cash or capital in your life, obviously, ideally cash flow but doesn't matter at the beginning. You want to measure something. You go again Yeah. If you enjoy that, we'll go again. You now you're going to be better like riding a bike, you know, you, you can imagine that or driving a car, you get better with practice, confidence, all of those things and you go home and this is this is not that hard work done at once you can do it again. And usually the second one was quicker. And you and you do so with with more speed and more competence, you say, and when you start turning wheels, and you know you're doing it you can imagine it is this is wheel number two. We will number three, that as a new ROI, return on impetus. You move in now, you know it's like the rocket coming out of gravity. The steam engine, getting a full head, you're moving you've overcome the hard stuff. And everybody's getting stuck at the beginning Chris and but once you've overcome it, it's so So easy. After that, just picture the cogs

Unknown Speaker  18:03  
turning and all connecting. And yes,

Unknown Speaker  18:06  
it really does work. So, you know if you're stuck now, go back to the beginning. If you're not sure of the wheel doesn't matter if your first wheel turns don't work. We hear a lot of people saying, you know, the numbers don't stack up. This doesn't stack up that doesn't stack up. Okay? Keep doing the activity until it stacks up. Or if it never stacks up, change the wheel. Yeah, you can't make things stack just because you keep banging your head against a brick wall saying well, then the pain isn't going away. Yeah, yeah, stop banging your head against a brick wall change to a different wall. And I'm mixing up my metaphors here, Chris, because I'm rambling. However, what ROI are we up to return on impetus? What number is that?

Unknown Speaker  18:51  
Let me say

Unknown Speaker  18:53  
six

Unknown Speaker  18:55  
is six or seven. Yeah. All right. Anyway,

Unknown Speaker  18:57  
we're cooking on gas now. Right. So once you Done impetus.

Unknown Speaker  19:02  
Now, if you imagine impetus, right, so it doesn't really matter what asset it is, when you've done it three times, you pretty much know exactly what you're doing. You know, three properties, three businesses three, the first one, you learn the second one, you got better the third one, you can crack it. That's pretty much what I normally see. So that's your key objective. When you get three solid wheel turns, your you should almost if not already be at security, which means you're free from the need to rely on business. That's you have to be in it or in a job you free from the need for that. I'm not saying give up your job, get rid of your business. I'm just saying your free gifts, that peace of mind now gives you more focus to either turn a different wheel which is more powerful. Okay, so you can use go back and say Now I know how to do that. You got the confidence, you're making more connections, you're getting more impetus, you get to a place where, you know, you can either choose a different wheel, or, which is a really popular thing to do, especially with property as an example, is, you run out of money because you're on leverage runs out. You then show your expertise, and you get something called return of investor. What that mean is, you show your competence and then people want to help you replicate that confidence, because your confidence is showing is generating cash flow. They don't know how. So the sort of people who would do that will more likely be either behind you on the wheel. And they would like to be an investor to learn what you know, come back to that point, or they're way ahead of you on the wheel people like my Davis Woods ample, who sees what you're doing and says, well, you're doing a great job, I'll just invest money for a return on their investment in a joint venture. So you can see people ahead of you and behind you, and they can become your investors and that's called return on investment. I teach people how to create solutions for investors behind them and ahead of them to make that really powerful so they never run out of the fuel to keep their journey going.

Unknown Speaker  21:31  
Making Sense like it Yeah, another one. Let's go

Unknown Speaker  21:36  
the next one. Magic now just keep thinking Chris, you've done it you've done it you've done it you've made all the money you now are independence you know you cooking on gas now are the people investing with you? they're seeking you out. They're following you. They're doing the you know, you know, that's happening. You can see in the Facebook group with some of our own students now even after nine months, 12 months. They start putting down the work they've done and documenting in a system and a process in a book, or an E book or a training course. Now, you know what that return is? It's an ROI. Yeah. What's that one return on in intellectual property return on IP? Yeah. And again, we're seeing students who've done that tends not to happen in the first 12 months, but certainly happens in subsequent years. You know, we've had a number of our ex students, if you like, don't need us anymore. They're the emphasis flying, right? So they don't need us. But actually, sometimes they come and help us, don't they, you know, they want to give back and that's another ROI, which I'll get to but the IP thing is really saying, Hey, I started off this journey, not knowing anything. I had a strong enough reason to overcome the inertia. I did exactly what I was asked to do. In the welfare of the community I followed, I followed I followed. Now people are following me. Now I have the right to be an authority. I have the right to show my expertise. And that's when you create an IP. So this really is where you're bringing leverage into play, because we're talking about the leverage of relationships. Yeah.

Unknown Speaker  23:23  
And we're talking about the leverage of intellect, which, you know, again, is tying everything we've talked about over previous episodes

Unknown Speaker  23:29  
with the fi rst model, the whole thing is an extraordinarily elegant, virtual circle of outstanding stuff. That means when, you know, when you get to a place of independence, and you follow this guidance, abundance is unstoppable. You can't stop because everything is working. But it's like a, you know, whatever analogy you want to work, you can't stop because energy to keep it going is teeny tiny. You know, because you're doing it, and people are following you. That's when you get to Mike stage, when you know he talked about impact. Remember that this is return on impact. This is now you're in a position where you no longer need to focus on yourself. Now remember, he said it still makes profit. But the ultimate vision of so many really successful entrepreneurs is no longer themselves.

Unknown Speaker  24:31  
Now. We say that with all the billionaires now, don't we? Well,

Unknown Speaker  24:34  
yeah, but let's not get ahead of ourselves. Right. So you know, it's, we're not suggesting people become billionaires. That's a very, very, very big number as we know. But if we can get people to be financially independent, and we know on average in our communities, 10 grand a month, 10 grand a month perfectly laudable. You can power through that through abundance, and then you've got your the ability then to impact on others. And so that's the next ROI, return on impact. You're giving back in so many different ways, whether it's through philanthropy, whether it's through, just, you know, charity, whether it's through just giving your time. So many people do that. And that's a key part of getting through to abundance, you know, and that's that's obviously important to Mike is important to me, and then the final one, we'll have to count them back now really wrongly, but the final one is return on inheritance. Now, what I mean by that is, you kind of documented your life's journey, you become the pioneer, of and the creator of your family's mission. So it's no longer about making money. This is about teaching and wisdom on how you started this Why you started this what you did? And I would encourage everybody to document that on the way in fact, I'd really go back to the beginning and then name it now. You know, I'd name your wealth business something now. We talked about that on a previous podcast, Team Rodwell, Team Rodwell, you have I'm not sure about that one right I think you need to go back to that drawing board but but but it could be that rod well being is a great one because it talks about well being Yeah, that could be financial health. All of those things, you know, so joking apart. If you go back and think, in that reason to overcome inertia, number one reason to overcome inertia. Number two, always seek out a relationship opportunity idea. Let's count them. Number two. Number three, return on intellect that's the beginning of the wheel. Yeah. Number four, return on interaction connect to not DIY. We're stopping you from drifting we're stopping you from downloading Then refocus on the return of your investment in the DD stage, that then leads you to turn off your investment number six. Yeah, where do we go from that? We do it again, return on impetus number seven. It's like you're moving through gears.

Unknown Speaker  27:17  
So at any time you can check in and see where you're getting stuck. Yes.

Unknown Speaker  27:21  
It's almost like

Unknown Speaker  27:24  
um, you know, when you're in a car, you know where you are, because you've got a dashboard, you have a dashboard, right? Right. Right. So you got a dashboard and in the old days where no cars were manual, you could you could tell where you were by the position of your hand. Now you can see it on your other heads up display or on your new electric Yeah. No, no, no, no, any electric car will do as a tax free benefit doesn't have to be a Jaguar I base, other electric cars are available, Chris. Then we go to, you know, impetus. Then we look for the investors to help continue that impetus. Then we create our IP, then we teach our IP to the next generation. That's it. So I think we've got 11 arise there. So I'm going to try and find 12. Somewhere, right? Because I get to help me we teach one ROI a month. Yeah.

Unknown Speaker  28:15  
But But I like that I really, because it's

Unknown Speaker  28:17  
almost like, you can see it's like a pyramid for good. Starting off at the bottom getting it right, moving up through the layers, transforming yourself as you go. And maybe these are a wiser little kind of aid memoirs, almost like a little judge, what am I what ROI am I working on them? So at least you can see it's a milestone. And if it takes 11 milestones, to be financially abundant, and you can work your way through that, if it's 11 or 12, it doesn't matter. But it's doable.

Unknown Speaker  28:50  
Yeah. You can really see here that this isn't something that you can achieve overnight. And if you commit to this and you just follow that process, then as you've said, many times five to seven years five to seven years

Unknown Speaker  29:02  
is normal. Some people can do it much more quickly. But usually it's because they've got a big chunk of fuel, whether it's from a work pensions or an inheritance or you know, whatever. Some lump sums come into their lives given big powerful financial leverage and a very powerful way to do that. Very powerful. Why? I mean, the powerful Why is the most strongest thing of all, once you've got that, you'll find the resources. You don't need the resources we've discussed before. You don't need the resources, you could find them, the resourceful nurses found, and we help with that. So you don't have to start with money. It isn't, oh, we just help people with money. Actually, we don't. It's we know it's harder when you don't have anything, but you can always find it.

Unknown Speaker  29:50  
Is that been useful? That is useful.

Unknown Speaker  29:53  
It's maybe we can create some kind of graphic here. I think that would be really helpful. That would be certainly that will Yeah, that will any point, as we said, give someone you know, a guide, almost like a blueprint there alongside the seven steps, which of course we already teach to our members.

Unknown Speaker  30:09  
Yeah. And where are we at with that then? So that's Wow. I mean, that's coming up as

Unknown Speaker  30:14  
a couple of weeks away from the launch, which is the 30th of March and actually before that on the 23rd. So next Monday, we will be releasing the free video training that you've put together for us, Kevin. And might I say, that's a very comprehensive training as well, which really talks about all the aspects of the wealth building process.

Unknown Speaker  30:32  
Yeah, there's no ROI is in there. I don't know. Maybe one or two but not not in the way you pulled it out of me today. But I hope I've Look, I gave up my best, right. Yeah. So whether people join the programme or not, doesn't matter. I just want people to be wealthy. It'd be great to be connected with people be great to be welcomed in the community. But if they don't, that's absolutely fine. I'm not worried about that. But we definitely want to have a really strong relationship with, you know, a good number of people that we can help them on the journey. guide him through it. And we got some brilliant, brilliant new coaches that have been, you know, trained in our in the IP and very much looking forward to showcasing them in a maybe on some kind of a video or something Krista just let people know the quality. Absolutely, people we got outstanding. Yeah,

Unknown Speaker  31:22  
no, I think we're all coming together in a couple of weeks time. So we'll undoubtedly do some some lives in the Facebook group. Right. Okay. Cool. Yeah. So if you're not already in the Facebook group, the wealth builders community, definitely do head over to wealth builders. co.uk forward slash Facebook. And if you've enjoyed today's episode, why not share this with at least one other person? That'd be nice. Give them the gift of the 11 00

Unknown Speaker  31:46  
gift because you never know you could be their relationship that transforms their wealth. So giving a gift at the beginning. Not a bad thing.

Unknown Speaker  31:55  
Pretty good stuff, huh? Thanks for that, Kevin. You're welcome. enjoyed it. As always, you Be back in the hot seat and

Unknown Speaker  32:02  
we will catch up again next week on wealth talk. Okay, see ya.

Unknown Speaker  32:10  
We hope you enjoy today's episode. Don't forget that we are constantly updating our resources inside the wealth builders membership site to help you create, build and protect your wealth. Head over to wealth builders co.uk slash membership right now for free access. That's wealth builders don't co.uk slash membership