Women In Business

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  0:20  
Oh, welcome to Episode 36 of wealth talk. My name is Christian Rodwell, the membership director of wealth builders. And I'm joined by the founder, Mr. Kevin Whelan.

Unknown Speaker  0:29  
Evening, Chris, good to talk to you again. How was America?

Unknown Speaker  0:33  
It was fantastic. Thank you. So I was attending a big marketing conference over in Phoenix, Arizona with some of the top online marketers in the world. And it was really, really fascinating and obviously, good to learn about the topic of business, which is where we're firmly entrenched this week and with a focus on women in particular in business. And I know we don't want to kind of overemphasise the difference between women in business men in business. But there's definitely some some some differences aren't there?

Unknown Speaker  1:03  
Well, yeah, when we look at the wealth position, it's undoubtedly the case, Chris, that women are behind the curve. When it gets to retirement, we saw that in recent episode where on average, women end up and certainly in terms of traditional retirement, you know, two thirds behind men, you know, the average retirement party is a third of the average man. So, you know, that speaks volumes. But what's great to see is the women featured today are really not starting behind on the marathon race, although they've got to the front of the race pretty quickly, and now they're powering through and very inspirational storeys from all three.

Unknown Speaker  1:40  
Yeah, all of our guests doing amazing things in very different spaces. And, you know, have started, you know, very early on as well certainly, will be hearing from Julian and from Charlotte. And they talk about, you know, being a female entrepreneur in their early 20s. And, you know, that definitely, were a few difficult times and that's no reason to hold them back and maybe even that in pushes them even more to Topsy be successful.

Unknown Speaker  2:08  
Well, that's true when you know use as an interesting thing in general, but also Sarah, who will hear from, you know, who's very much in the property space and she'll probably speak a word or two about how in property, you know, women often are least participating in some respects. You know, there's many challenges that women have often seen as a soft touching property. We hear and more about that, I guess when she tells her Yeah,

Unknown Speaker  2:37  
so I guess we better hand over to the women to tell the tales themselves. I think we burst

Unknown Speaker  2:43  
so shallow. Welcome to wealth Talk.

Unknown Speaker  2:45  
Thank you so much for having me.

Unknown Speaker  2:47  
Good. Now, Charlotte, give our listeners just very quick background as to what your businesses place

Unknown Speaker  2:52  
yet. So I'm Charlotte. I'm the CEO and founder of the technology business with a big difference could impact so impacts may aim is to help growing businesses have a real human connection with their customers. And we do that through sending genuinely handwritten letter cards and sustainable gifts. So they're all sent through their posts to good old fashioned bro mail. But they're all written by real people across the country. So we have over 400 people as part of our scribe tribe, but it's all done through a platform, but then them actually writing every single message on behalf of some of the biggest businesses in the UK.

Unknown Speaker  3:26  
Fantastic. Now, this is not your first attempt to businesses it.

Unknown Speaker  3:30  
Now, I've had a couple of other things before I'm sure it's not going to be my last either. No, and,

Unknown Speaker  3:36  
you know, what is your background been? And I know you started a relatively young age and you've won awards as well. You know, give us a little bit of the kind of storey of how things have evolved and how that entrepreneurial journey has been for you so far.

Unknown Speaker  3:50  
Yeah. So I mean, I feel it's always just been in me from a very young age and that my dad gave me my first personal development book at the age of 14, and I fell in love with just learning and growing in a business is a huge part of that. So my first kind of big business is actually a social business I ended up running when I was 19. We built toilets in Kenya out of recycled materials. We set up quite a big global franchise where we built toilets and helped entrepreneurs collect human waste and sell it as fertiliser, and helped military in the UK start businesses sold solar lamps, all kinds of great stuff. But every business that I started had a social purpose and made money at the same time, so it wasn't one above the other is all around how can you make money as an individual and as a business and help people and I did lots of things when I was younger, like set up online shops and makeup stores and all kinds of entrepreneur things even sold the typical lemonade from a lemonade stand. So my first business where I sold the shares and made some money there. So yeah, I've always had business ventures and endeavours but it's always generally been around how can I create a business is a win for me a win for the planet and the environment and a win for people across the world to so that My journey and that's obviously what inspired impact mixing tech and humans together.

Unknown Speaker  5:05  
Now with impact, one of the, you know, fundamental aspects that we talked about a wealth builders is generating recurring income in your business. So how have you gone about this with impact?

Unknown Speaker  5:17  
Yeah, great question. So internet started really organically, and just came off the back of and it was a franchise that were really struggling to contact busy CEOs. And they said they wanted to send handwritten notes, we started writing. So myself and my cousin was the first ever writer. And then we've got hundreds around the country, but it started and it wasn't very recurring. It was people doing campaign after campaign, and it meant that we were getting money very sporadically. And we started working for bigger businesses, which meant the big check sizes went up and up effectively, but it was still very sporadic. So we built an online platform, which is a little bit like MailChimp. For handwritten letters where a company can add their logo, they can personalise the message, upload their CSV file, copy and paste it in, press Enter just like you would an email but Obviously, we had real people writing the letters. And people came to us and they wanted to do it for customer loyalty, you know, saying thank you sometimes saying sorry. And that happens every day, week month, people wanted to welcome their customers again happened every day, week month. So we developed an online subscription model where companies could pay for a number of credits every month. And then they could spend those credits over a note cards and gifts. So we found a way after four years of tech development, we've built the only online platform in the world where you can order genuine handwritten letters A note, and businesses do it now every day, every week, every month and by number of credits. So it's been a long time coming. And it was only in July this year that our self serve platform model was really, you know, to stand on its own two feet. And now we don't touch the note cards. It's all done by our supply chain by our ham writers. So it took us four years and you know, over a million pounds worth of tech development, but it really was the best shift in our business model because now you know, we make money every single month from our clients and they keep coming back. I think we signed a three year contract with somebody This year as well. So that's the kind of money Where, where, you know, we're impacting people's lives do we have a lot of single mothers, a lot of artists that are making money from home writing, and effectively, we don't talk to anything from our side anymore. They're making money. Our clients are getting great results. So it's a win win for everyone.

Unknown Speaker  7:16  
But it sounds fantastic. Now with your 10 plus years experience in business, have you seen any advantages or disadvantages of being a woman in the business world at all? Charlotte?

Unknown Speaker  7:27  
Great question. Great question. Not the first I've had this one. And I think quite strongly about this. So being a woman and also being a very young woman, I started the business was 2122. And there are lots of stereotypes around that. You can't help that. I mean, I've been everyone thinks I was the secretary for a very long time or the receptionist so definitely had that awareness. You know, when's the CEO coming in? You're like yet that's me. But after you kind of get over that actually, being a young woman in business has been a big advantage for me. You know, I stand out in a room especially in the tech space. I've done a lot of stages around the world and I look different from a lot of the other People there. And that's never a bad thing. You know, when you're in a room and you're at a conference, and you look different to everyone else, you're definitely remembered. So I think it's really important for, you know, women to be seen in business because I generally believe when you're younger and you're thinking, you know, what career Can I have? What do I want to be if you can't see a woman in business, and you never think you could be one? If you can't see a woman in tech, you don't think it's possible? So for me, it's all around how many stages Can I get on and show young women? This is an option, you know, how can I show women that want a career change, this is an option. So I think it's really important to stand strong as a woman and show others that you can do it, but also at the same time, I'm just a human person in business too. So being a woman doesn't necessarily mean it's any harder or less hard than running a business as it is for anyone else, you know, because we still have the same challenges. We're still chasing revenue, we're still trying to grow our business. We're still raising investment. And the highs and lows of business are hard regardless of whether you're a woman or man. So I think the biggest thing for me has been learning how I use that to my strengths. You know, I'm a very hard on this leave. I even did I did a talk at a conference recently called What's love got to do with that, and I talk a lot about love and business. And that's just be I don't know if women are more likely to talk about that or not. But that's Charlotte Pierce, that's who I talk, you know, how I talk what I talk about. And so, sometimes women are seen as fluffier or more vulnerable, or you know, weaker than men. And I think that is all true, but you just need to know yourself and go Actually, I am quite a vulnerable person. I like sharing storeys, I like sharing the hard times, and actually using that as a huge strength and actually makes me an empathetic leader that I'm like that. So I think whether you're a woman or a man in business, it's really just checking in with yourself knowing who you are as a leader, who you are as a business owner, and making sure that you're running your business to your strengths. So yeah, I don't think it really matters woman or man, but as a woman, we do need to stand up and show other women that it is possible.

Unknown Speaker  9:45  
And as a final word, Charlotte, why do you think the business asset class is one of the best asset classes for building wealth?

Unknown Speaker  9:54  
I think just the creativeness to it you know, you can create a business that gives you personal wealth. That gives others around you Well, the benefits other business and other people, I think it's one of the most creative asset classes because you also design your life around your business too. I think they're so into, you know, into weaved, I wake up every day and I decide what I do what I'm working on the business that I know, I'm creating something that's much bigger than me, and much, you know, much bigger than in the world that I as an individual could be. And that's really exciting. And you know, you see your value on paper going up. And you know, at some point, you could sell the business or you know, you're you're becoming really profitable. There's just this tangible thing that you can see and create, but it's not just for you. And I think that's what makes it so amazing. It's for everyone else, too. So it's a really like selfless thing. business can be really selfless, if you create it to be.

Unknown Speaker  10:43  
Thanks so much for sharing with us today, Charlotte, and best of luck,

Unknown Speaker  10:46  
everyone. Thanks for having me.

Unknown Speaker  10:49  
Hi, I'm Sarah Walker. Welcome to wealth talk, Sarah.

Unknown Speaker  10:53  
Thank you.

Unknown Speaker  10:54  
So Sarah, would you mind just beginning by giving us a little background as to your connection with wealth builders and how you first connected

Unknown Speaker  11:00  
Yeah, so I met Kevin through I did Simon Zoo cheese mastermind graduate programme and I was a top performer on that, and a few years ago now, but Kevin was involved in some of that training about how to use your pension, how to generate wealth, you know, the pillar or the pillars of the talks by so that's where I first met Kevin. And you know, he's been influential in supporting you know, people getting control of their money and you know, getting control of their pensions which you know, is a worth a lot of money is like deferred pay I tell my children is like deferred pay got follow your pensions like maybe leave a job, don't need your money.

Unknown Speaker  11:41  
Met Kevin really was through that. Yeah.

Unknown Speaker  11:43  
Right. Now,

Unknown Speaker  11:44  
we talked about women in business today. And just before we talk about your current business, Sarah, would you mind just giving some backstory as to what you've been doing your background that last few years?

Unknown Speaker  11:56  
Yeah, so I got the new career in social housing. I stopped I'm in the local authority. My local council when we still had council housing as it was called in those days all been sold off, but under market that just government, Biden housing management, homeless, you know, house building, all sorts of stuff within within that sector, as well as supporting housing. And so more recently, the last 10 years, I was working for National Housing Association, procuring and building new affordable homes before I set up as my own business. And we're fortunate accommodation.

Unknown Speaker  12:34  
And I saw you on stage at an event A couple of years ago, and you were claiming a prize, weren't you? So tell us a bit about that.

Unknown Speaker  12:41  
Yeah. So I was a couple of years ago, I did Roger Hamilton's

Unknown Speaker  12:46  
a day where I was at wild card entry for his, you know, he looks for I suppose ethical businesses or businesses that can make a difference really. And we were just launching our product and our brand at the time, which is you know, hmm. Within the supportive housing under exempt accommodation status, and, and that was great. So you know, really, really enjoyed doing that and getting up on the stage and presenting part of that prize was a trip to Bali, which was great. And obviously working with them, you know, rock stars.

Unknown Speaker  13:17  
So, yeah. So you've had experience, obviously, as an employee, and then a business owner Now, what's your viewpoints? How have you found it as women in business, Sarah, and

Unknown Speaker  13:30  
yeah, so what so what pushed me really to become my own, make my own business become my own self employed was I've I've actually got a daughter with severe learning disability disabilities and disabled so she needs sort of full time care and I just, I just couldn't, I just didn't feel the corporate environment, married itself very well with a parent. And as you're a mum, you sort of take on that natural role and my job when I leave I was covering the whole of the Southwest as a senior project management. And I was doing everywhere from Chiro across to London back up to the Midlands, and it was, it was just way too much. So that pushed me to take that step, which was terrifying. You know, and really, you know, was very nervous about doing it. But I'm so glad I did, because it's given our family, the freedom that we need to be around Kate when she needs hospital or, you know, stuff like that.

Unknown Speaker  14:27  
So that's really out. And have there been any time since you've set up your business, Sarah, where you felt that things have been any easier or any harder based on the fact that you've been a woman in business?

Unknown Speaker  14:38  
Oh, yes, I do. I definitely think a woman in business and in property is quite as a very male dominated environment. So even when I was project manager, I was the only senior woman and I'd run my meetings, it was contractors were male. Everybody on site was male. You know, there's a very so I came from a male dominated environment, but I think Moving into property, try negotiate the deals trying to get below market value rent to rent, I think you'll seen as a bit of a soft touch, you know, because you're, you're a woman, you know, you're not, you know, perhaps taken quite as seriously as the men in the field are. So I have come up against that, which was a bit surprised by it as well. And also, and even to the extent of borrowing money, you know, are you married? Have you got a second income? Or, you know, what are you doing with that, you know, even some of those questions today? Well, I'm wondering if that was a, you know, a bloke going for that sort of money loan to value would you be asking him, you know, is his wife in it? I don't think you were, you know, some of that's been challenging. Yeah.

Unknown Speaker  15:40  
Okay. anyone listening now? So any advice you'd give someone who's looking to maybe transition from a job and start their own business as a woman? Are there any tips or advice?

Unknown Speaker  15:51  
Yeah, well, you can use our we can use our skills to our advantage. So you know, find a niche that you're passionate about, that you care about, and then that will come across to your audience. ism to the people that you're working with. So we work a lot with young people leaving care. And we run a pilot with our local council. So 16 and 17 year olds aren't allowed to stay with their foster families anymore. We had a young lad came to us who'd had nine different homes in his five years, he not even finished a year in school. So I had no qualifications, no prospects of the future, you know, and he came to us completely disillusioned with life and, you know, we were able to get him into a stable home, get him some proper training, get him an apprenticeship and really set him up on his way. And I think the rewards speak for themselves and that so the council, I you are on board with this, you know, these people are vulnerable, they need help, and you know, having that commitment to them has really helped to my business. Definitely, definitely.

Unknown Speaker  16:48  
So, Sarah, have you set your business up in any particular way, based on the niche that you're focused on? Yeah,

Unknown Speaker  16:53  
yeah, the best. I've set myself up as a social enterprise. So there's a recognised brand. I recognise your local 40 in a not a charity, and we're still run as a limited company. And it just means that 50% of our surplus is nonprofits goes back into the work that we do. And that's definitely, if you want to work with any vulnerable client group is definitely a subscription based service that will give you the recognition that you need with elected members and with your local council. So yeah, so that's what we do. That's great.

Unknown Speaker  17:24  
I'm glad you're now expanding your business into training and education as well.

Unknown Speaker  17:28  
So we've got a date for the 29th of November, if you'd like to come along, we're we're expanding into training and education. But that's all that's everything from JVN with a housing association to do development work all the way through to the work that I do supporting vulnerable adults, and you know, everything in between, really, so all the strategies you're taught in property you can do in the housing association sector, but people are unaware that you can do them. So that's quite a broad range of things that are doors that I can open up for people to get started. Fantastic.

Unknown Speaker  18:02  
Thanks so much, Sarah.

Unknown Speaker  18:05  
Yeah, I've enjoyed, I've enjoyed it. Thank you, thank you so much for the invite. It's great to encourage women to go out there and you know, start businesses because we can do it, we can do it differently. We can do it equally as well as all the men can do it. But I accept that women do tend to take on more of the caring role they take on more of the housework more of doing, you know, and that is difficult to juggle boys. If you become self employed and run your own business and you've got options. You've got more, you know, you can do more. So that's definitely helped us and we've definitely been growing and we're enjoying it. Yeah, where we like helping our young people. So that's great. Thank you very much.

Unknown Speaker  18:44  
Welcome to OFF TOP, Julian, how are you today?

Unknown Speaker  18:46  
I'm great. Thank you. Thank you for inviting me on the show.

Unknown Speaker  18:49  
You're welcome. Now Julie, and for our listeners, would you mind just giving a bit of background as to what your company does?

Unknown Speaker  18:55  
So creative nature is a free form brand, that create product That are completely delicious without doubt. So we have a range of snack bars, baking mixes and super foods that are better for you.

Unknown Speaker  19:07  
Excellent. Now, Julian, you've spoken my spread about race event actually, back in 2015. And then, a couple of weeks ago, I was watching Dragon's Den and I saw you on there as well. So um, so you've had a interesting few years by sounds of things.

Unknown Speaker  19:22  
Yes, it's been a roller coaster. I'm sure a lot of entrepreneurs say that, but there's definitely ups and downs every day. We've come a long way since we spoke to you. I spoke with you last. And we've launched into sort of major, multiple supermarkets, and we've literally just done a huge rebrand. So you'll see that shortly, launching.

Unknown Speaker  19:45  
Excellent. Now one of the aspects that we talk a lot about at wealth builders with regards to business is the recurring revenue model. Do you have recurring revenue in your business and how important is that for you, Julia?

Unknown Speaker  19:58  
Yes, I think it's it It's great to have recurring revenue. And it's really important when stabilising the business, especially as we were business at the beginning that didn't have any investment. So we had to basically grow organically. And having a business model that constantly has basically a lifetime value of a customer. So you understand when your customer enters the market, for example, when we supply say, into a quarter, what is the age range of that customer with with their female or male, and then also how many times they're going to buy within that year. And that's how you determine your product lifecycle. So that's really important when forecasting also understanding your cash flow. And then also we have a subscription model that's only recently launched on our website, which again, is a recurring revenue model, where the customer buys a subscription box every week or every month, and we know that this cash flow and this is going to help our cash flow ongoing.

Unknown Speaker  21:02  
Now we're we're featuring female entrepreneurs on this episode. Julian, have you found any difference being a female in the entrepreneur world as you've been developing and growing your business?

Unknown Speaker  21:13  
Well, when I first started, I was actually before as an entrepreneur, I was in banking, and that was a very male dominated career path for me. However, when I was an entrepreneur, I did found find there were more women entrepreneurs around. And however I did feel when I first started when I was 22, people weren't taking me seriously. And one of the reasons could have been because I was a woman. I had many episodes where we would be at trade shows, and people would think that I wasn't the owner. They would say No way. You can't be the owner. You're too young and obviously, female as well. And so things like that, I think, do cause some sort of issues, and women do have it slightly harder. However, I'm all for equality and I really think that women can do just as well as men.

Unknown Speaker  22:02  
Hmm. And what is it about business as an asset class that you particularly like Julia? And why do you see? And you know, what advantages Do you see over something like property as an asset class or something different.

Unknown Speaker  22:17  
And I really enjoy business. And I think that it's very, very fast paced. And there's a lot of decisions that need to be made as as an entrepreneur when you start up, and you're very much in control of your industry, and you can develop with the trends that are out there. And for me, personally, I chose to go and I chose to do products rather than services. And they're obviously very two separate ones. I think the product catalogue can actually be harder, only due to the amount of stock you have to hold so cash is always king in business and if you have to hold a lot of stock, your cash and get diminished quite quickly.

Unknown Speaker  23:00  
And for our listeners, Juliane who may be are interested in moving into business, they may still be working full time at the moment, what would be some kind of tips and lessons learned that you could share with them?

Unknown Speaker  23:15  
I would say the struggle is real. It's not you see the successful entrepreneurs. And it looks like they're successful overnight. But it's not that easy. However, there are just as just as many lows there are, there are so many highs as well. Getting your product for example into store and seeing it launch nationally. There's nothing that can compare. So I just think people have to be more sort of open to exactly what the business journey is. Get as much advice as you can. And just really start small because it doesn't matter how small you start. It just matters that you actually start because tape putting one foot in front of the other. You're You're further than you were yesterday. So I would say that that would be my main advice. Yeah, totally

Unknown Speaker  24:02  
agree and and finally Julia and tell us what that experience was like on Dragon's Den for you.

Unknown Speaker  24:09  
Dragons Den. People asked me about Dragons Den. And it was really really scary. I'm I was, I was I was very, very scared when I was in the den. And I was really nervous, which I'm sure you could probably tell from watching. But it was really worth it in the sense that it made me grow as an entrepreneur, it also made my partner grow. And after the den Ed, the response we got on the product was phenomenal. We also sold out in major supermarkets and we became their number one one of their top 10 sellers in for that year as well. So I think no matter how hard it was, during those two and a half hours or whatever it was, when they filmed it, it was worth it for the outcome. Yeah,

Unknown Speaker  24:58  
no congratulations on that and I I think it just sums up that if you're going to be an entrepreneur that you're going to have to push yourself outside of your comfort zone on more than one occasion on you.

Unknown Speaker  25:08  
Yes. And you just have to really step up to the plate, you just have to get on with it. Otherwise, it's it's eventually if you just keep on sort of avoiding doing things that are outside your comfort zone, you're never going to progress.

Unknown Speaker  25:24  
Thanks so much for sharing with us today. Julia.

Unknown Speaker  25:26  
Thank you so much.

Unknown Speaker  25:28  
Okay, so quite some insights there. Kevin, what did you pick up on in particular?

Unknown Speaker  25:33  
Well, you know, Charlotte is a very interesting storey isn't that she's such a driven person, both in passion and purpose. You know, and I don't know if you know, the storey Chris, but I met Charlotte when she was still at university. And she was introduced to me by her dad, who's one of my clients. Dad's called David. And I was went to see David went to his house and he asked me to spend some time with Charlotte and she You could tell she was a bright spark and Goddess, she moved on and done some brilliant things and speaking all over the world and raising money and really pushing the boundaries. And I think she's very determined. And I think she's absolutely saying, in no uncertain terms, there's no difference between men and women. And this should be about entrepreneurship rather than about female entrepreneurship. And you know what, she's absolutely right.

Unknown Speaker  26:24  
Yeah, absolutely. And, you know, ending there by saying, just know yourself and be confident in who you are. And and that doesn't matter. You know, what gender and knowing yourself and what your value is in the marketplace is key to be successful as an entrepreneur.

Unknown Speaker  26:41  
Yeah. And you can tell you know, they've stuck at it, you know, the technology didn't happen overnight. You know, businesses need time to be both invested in so that you change the business change, and you build the scale in time. So you know, I'm hoping for wonderful things for Charlotte, and I'm Sure, she'll be very successful and go on to do other things in the future to that will no doubt hear about.

Unknown Speaker  27:07  
Sarah's business obviously is in the property world. And we've done several episodes over recent months where we talked about eight GMOs and Sarah's businesses he knows within the supported housing sector.

Unknown Speaker  27:18  
Yeah, I mean, you could see as far as Sarah is concerned that she's absolutely bringing her own IP into plays. And she The, the work that she does in her business is a reflection of two things really her background, because she came from that place and understood the very needs of the people with whom or for whom she now serves. And also she's got that big reason why hasn't she you know, you can't ignore that the big reason why is her daughter who has special needs of our own so I think when you combine this similar thing of passion and purpose, but express in a different way, I think she's done an outstanding job and I think she did hint though, that you know, There are some challenges with women in property. And I've definitely seen in recent times with the increase in the use of modular construction buildings, Chris, where buildings are built in factories, that many women are turning to that, because they don't have to have this. This, this feeling sometimes of being, you know, an innocent woman talking to builders, and, you know, and those sorts of contractors, and just finding it a much easier way as well. So lots of things are evolving in property, and Sarah's doing a great job. And one thing I'd like to pick up on is something that Julia mentioned, she was talking about lifetime value of her customers, and how many times a customer will buy, you know, in a year and this helping with being able to forecast and, you know, know where your cash flow is coming from. So, you know, lifetime value, really critical metric, isn't it in business? Well, it's one of the key metrics in business and I'm sure we'll, we'll get to all of the metrics, Chris, when we dive a little deeper into the whole business thing, but understanding the lifetime value of the client is critical for a number of reasons. So if you know, for example that the client buys first time, and that's on us some round numbers, say they spend 1000 pounds, but they, you know, spend 1000 pounds a year for five years. Very, very simple example, then that value is 5000 pounds. So once you know the value of the client, let's say it was 5000, you got a much clearer picture of your predictability if it's once a year and you've got much clearer picture of what you're willing to spend to acquire that customer. And that makes a huge difference in terms of your marketing spend. So obviously, from her perspective, she did such a great job Didn't she have coming out of her comfort zone being scared at the beginning, which is another interesting point, that when it comes to building wealth, you either have to do it or don't do it. Simple as not trying, there's no drifting. There's no DIY in here. You just got to be a dynamo and push through and Giuliana is a inspiration in that regard to as In fact, all of our contributors today where

Unknown Speaker  30:04  
they will were indeed and another recurring theme was recurring income in the business. And that kind of leads us on quite nicely to where we're heading with next week's episode, doesn't that Kevin?

Unknown Speaker  30:15  
Well, it does. Because recurring income is the essence of wealth building, isn't it really, it's about having an asset where the income shows up. So you don't have to be there every day for it to do so one like a job and unlike the conventional business, where you're chasing the profit, doing the work and getting the money, so we'll talk much more about that. And when you begin in business with the end in mind, the lifetime value of the customer, the amount of recurring income is critical, not just to how you live your life inside your business, but ultimately, in many businesses, if you do it well. You can walk away from your business, very, very wealthy indeed.

Unknown Speaker  30:53  
And we have a special guest next week, a best selling author, someone that you've rubbed shoulders with and we'll be right back. showed us with again next year. So maybe we'll kind of leave it on that suspense. And and reveal all next week.

Unknown Speaker  31:07  
Yeah, we got to share that storey. You know, and I'll hinted His name is john. And john is just an outstanding guy in the field of helping entrepreneurs get the maximum possible value from the business. So when he shows up most people listen,

Unknown Speaker  31:22  
including me. Looking forward to that one. So today was really really good episode. I really loved hearing from our three guests and yeah, can't wait till next week. Look forward to see ya.

Unknown Speaker  31:36  
We hope you enjoyed 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.co.uk slash membership

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