This is my wife's paradise. As you described kind of be seen as that Google.
I've made some very dumb credit card decisions. Alright, check this out.
We actually did an excursion today where we went out whale watching. Now, we've seen whales on
previous trips. This one we didn't see any whales but we did see two different types of dolphins.
First, we saw a huge pod of bottlenose dolphins and they came up right to the boat.
You'd see them swimming under the water and then jumping out a lot of fun. I just love
dolphins. I love watching them play. It's fun just going out on the ocean as well.
-Hey, guys, welcome back. In this episode, I'm going to talk to you about how to buy and sell real estate
for financial freedom. -So, we do want you promise them nine things in the hooks. So we need to kind
of deliver on that. -Back to the due diligence research. -Okay and you can make sure you say this
to seven so they know kind of where you're at it. Helps give some reference. Alright, so the seven
of nine things. -Now, it's time for step seven to run your due diligence and your research.
Guess what? I'm going to show you a person that will do this for you or a company that will do
this for you and it's called the title company. -Okay, here we go. -Alright, how do I explain this?
I didn't understand profit and I want you to understand what profit is so you don't make the
same mistakes that I did for year after year after year. Okay, so, what I thought profit was is covering
my expenses. I thought that the money coming in needed to match what was going out and therefore
I had a successful profitable business. Oh man, that is so wrong and it's so painful and I'm so glad
that I just kind of took a leap. I learned from a lot of different books but no one actually said it
to me this plainly. I had to pay myself first. I learned that concept but it
was only when I tried it but I actually said, "Oh, that's what profit is", so what I did before
is I wanted to be a good employer so I made sure that I paid all my staff first and then I paid
myself what was leftover and sometimes there wasn't enough leftover and so I had to
scrimp and I had to use debt and then I had to catch up the next month. But then I finally
made a switch I'm like, "Alright, I've got to pay myself first. I'm going to pay the minimums on my
credit card." instead of trying to pay my credit cards down like I've been trying for years and
years and years and then having to bring the balance back up again. Okay, instead of doing that,
I paid the minimums on my credit cards. I paid myself first and I put money in savings.
So I put a couple thousand dollars in savings and I'm like let's see what happens here.
But I paid the minimums. I put money in savings and I was still able to pay my team. In fact,
when I paid my team last I've never been behind on paying my team. I was behind when I paid my
team first. I don't know if it's the weight that just came off of my shoulders or what.
But I knew that I had money in savings. So that if when I went to pay my staff if I didn't have
enough I knew that I would be able to because I had money in savings. The next month
I put another couple thousand dollars in savings and after several months of this I was like, "Oh,
over the past several months I've got this much in profit. It didn't go to my salary. It didn't go to
expenses or the payroll. I actually had profit", and I thought, "Oh, that's what profit is", I need
to factor in profit into what I'm charging. So I raised the prices on things so not only would it
cover cost and expenses and payroll and my salary but I had profit margin. I had profit built-in
there and because I sell things based on outcome I don't trade time for money or sell my hours
for money. But I sell for an outcome and because the outcome that I provided was so significant
I could charge a higher amount and I could put profit in there. I don't know how I could say it in
any other way so I just invite you to really think about it and look at your business and look
at what you're doing. Do you pay yourself first? Does your business actually have profit or are
you just covering your own expenses? Alright, my adventure for today, I come here to horsetail falls.
This is my first time. Wow, that is great. Check this out.
So, right down there is where the adventure began that's Alpine Utah.
-I don't have that audience and I would love to build it. I would love to build the audience who
sees me as some sort of a guru they want to follow. -The strategy that I use is to really help people
who have expertise, who want to build a following around that expertise, and as you described
kind of be seen as that guru as that authority. You know there's a lot of work and investment
that's put into this and so we've got to have a way that we're going to be able to bring a return.
Well and the reason that I've honed in on Youtube is I really feel that youtube has
some big advantages. One, it's a great way to really build that tribe. You know the
hundreds of thousands of subscribers that follow you and the second is that Youtube is a really
good promotion engine. Youtube search engine the Google search engine worked really well
for the strategy, I'm going to show you because people are searching for your your expertise.
They're going to Google on Youtube and asking questions. So they're not searching for you by name
but they're just typing in questions that if they did find you they would find their answer.
I've made some very dumb credit card decisions. In fact, the bulk of my adult life I carried a
huge credit card balance. Now, what I'm doing today is drastically different. I don't carry any credit
card balances. I use my American Express card it's got a high credit limit now but I pay it off a
couple times a month. I accumulate delta sky miles or whatever so I get free trips every once in a
while. That's really the only benefit that I get plus I have great credit, plus I get the security
that comes with using a credit card versus a debit card. See, that's a great place to be and
it's a smart way to use credit cards but I didn't understand any of this stuff. Back in my early 20s,
I got a credit card because I wanted to establish credit. I didn't have any credit history. So,
credit card is a great way to do that but I maxed out my credit card. So the first piece of advice
is when you get a credit card never carry a balance, never carry a balance. Seriously,
if you've got a 1,000 limit keep that around $50 or $100 and
fine use it but pay it off. Don't buy things if you don't have money in your checking account.
If you have money in your checking account then you can use your credit card to buy it
and then pay it off. Related to that the next piece of advice don't ever pay interest. Because if money
sits there on your credit card you're gonna pay the 6% or the 8% or the 12%.
I paid more like 18 to 21 percent something like that. It was just crazy. Interest is terrible.
When you have a balance on your credit card the interest that you earn that's the minimum payment.
They want you to keep that balance there and they only require you to make a small payment
so you're paying them interest and you're never paying down your credit card.
And then on our way back, we saw another huge pot I'd say 50 maybe even 100 I don't know. But
a whole bunch of common dolphins they're smaller but they're fun to watch. In fact,
I saw a baby it seemed like it was this big maybe this big or something like that. So, cute.
Now, what if you've already made a lot of mistakes with credit cards like I did back
in my college days and you've got a huge balance. Alright, this is going to sound counterintuitive
but for a time I actually want you to pay just the minimum payment. You think, "Oh, but this month
I've got an extra $300. Why don't I pay the minimum payment plus an extra $300?", okay, that sounds good
but guess what's going to happen the next month? Emergency is going to come up and you're going to
max out your credit card again. So here's what you do instead. Just pay the minimum payment and take
that $300 and put it into savings. Put it into savings. Pay yourself before
you pay it on your credit card. Then the next month just pay your minimum payment and put an
additional $300 into savings. See, what this does is it starts to change your mindset.
You're putting paying yourself as a priority and you're building yourself security. If you ever got
to a point where you couldn't make the minimum payment. Guess what? You've got a security blanket.
You've got your savings account. When I started doing this my whole paradigm changed and I was
actually able to pay off my credit card sooner. I would get to a point where I had so much in
savings that I could take a portion of it and just pay off the credit card completely. While
you're letting that sink in I want to show you the impact that you can have on a Youtube video
with an email campaign. This is pretty cool. So, this is the episode that when I'm recording this
I just launched a week ago. We're approaching the seven-day mark. I've got a new episode that
launches tomorrow and so before that one goes live I wanted to give this one an extra push.
It's been performing above average. If I go back to this screen here you see ranking by views
the video behind it was starting to catch up to it. There's only like a difference of 10 views and I'm
like okay I want this one to still stay number one on the top. I decided to do an email push and send
out the email like right about here and you can see in the last 48 hours between the hours of 2
and 3 pm we added 19 more views. We added 25 more views in that hour another 21 views. If you're not
having success in your business there's probably a few reasons why. The first reason that I see
you've probably quit too soon. You're not giving it enough time. So this means that you're not giving
your business enough time or you're not giving your Youtube channel enough time. Maybe it is
time to quit. Maybe it's time to quit that and to move on to something else and if that's the case
I call that just a pivot. But if you're calling it quits and you're just going back and getting a job.
That happens all the time. People just don't give it enough time. Another barrier that really keeps
people from success is they're not willing to take the risk. Now, I don't like extreme risk. I don't
like speculative risk or uncalculated risk but you have to risk something. You have to take a chance
on something that something is you. When I quit my job I did not know, I did not have a guarantee that
I'd be able to make an income but i took the leap and I made more money in the next month than I did
at my job. There's also been many months where I've made zero income... and I just kept at it.
I go to my mom and I'd say, "Mom, can I borrow some money?", she'd say, "Nate, why don't you just get a job?".
It hurts... But if you want to succeed in business you've got to take that risk and you've
got to expect those hard times. A big reason I see people not achieving success is they don't focus
on the end result and do activities that lead to that end result. Now, that sounds obvious but a lot
of times we're just spinning our wheels or we're just doing the busy work. We're keeping ourselves
busy. We're spending a lot of time on social media. We're designing things. We're tweaking things but
we're not selling or we're not doing things that are actually going to get that end goal. We're not
focused enough on that end goal we're focused on points that we think maybe will get us there
but our attention is not on that end goal and and fortunately for me, a blessing that I have is
I can't turn off that end result thinking. That's how my brain works. So, I see a step along the way and
I see a lot of people spending their time there and I'm like but I can see that that doesn't go
to the end result and I think that's why a lot of people aren't having the success that they want.
So I'm looking over at dana point and we're just around the bend here at Capistrano beach. This
place is beautiful. This has been a wonderful trip. A couple weeks ago you know we were in
island park Idaho, my paradise. Well, this is my wife's paradise. This is the area that she grew up
and staying right here on the beach has been a new experience for me. We've stayed in places
where we could then each day travel to the beach but just to stay here on the beach and actually
sleep at night with the sound of the waves has been a pretty cool experience.
We actually fly home tomorrow. I'm really excited to get back into the swing of things.