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Ep. 79 - Unlocking Entrepreneurial Success: Exploring Money Mindset and Business Strategies with Mariana Lacombe

Ep. 79 - Unlocking Entrepreneurial Success: Exploring Money Mindset and Business Strategies with Mariana Lacombe

Released Wednesday, 24th April 2024
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Ep. 79 - Unlocking Entrepreneurial Success: Exploring Money Mindset and Business Strategies with Mariana Lacombe

Ep. 79 - Unlocking Entrepreneurial Success: Exploring Money Mindset and Business Strategies with Mariana Lacombe

Ep. 79 - Unlocking Entrepreneurial Success: Exploring Money Mindset and Business Strategies with Mariana Lacombe

Ep. 79 - Unlocking Entrepreneurial Success: Exploring Money Mindset and Business Strategies with Mariana Lacombe

Wednesday, 24th April 2024
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1:16

Mhm.

1:24

Here we

1:25

are another episode, this time with Mariana

1:27

Lacombe with Quantum

1:29

Evolution. And this

1:31

episode is about a consultant,

1:33

a strategist, an international phenomenon

1:36

woman who is amazing. And we're going to learn

1:38

her story, but we really want to dive

1:40

into some myths. Debunk some

1:42

of those within coaching as well as some

1:44

of my own personal questions, as well as

1:46

what can you do today to get started?

1:49

So without further ado, Mariana, won't

1:51

you tell us your story?

1:53

Yes. Thank you so much. It's really great

1:55

to be here. I absolutely love

1:57

how you see money and wealth.

1:59

And that's pretty much my approach to things.

2:02

My, my story I come originally

2:04

from Brazil raised by

2:07

a very humble family, actually. So

2:09

my childhood was very humble. And

2:12

I've seen my family grow from nothing

2:14

and my, both my parents decided

2:16

to become different types

2:18

of entrepreneurs. My father is

2:21

more traditional and

2:23

my mother is the visionary

2:25

that takes massive risks. So

2:28

I grew up in that space where

2:30

my parents had multiple jobs.

2:32

They were also entrepreneurs. I

2:35

started working when I was 15. So

2:37

I started very early. And

2:40

I've always had lots of things happening

2:42

simultaneously. And the interesting

2:44

thing in my life is that numbers

2:47

to me were always very easy.

2:49

I would be the A plus student,

2:51

and math wasn't my problem at

2:54

all. So when I was choosing

2:56

my degree, I

2:58

decided to study psychology. And

3:01

my mother almost had

3:03

a heart attack because she thought

3:06

I would become like a CFO

3:08

or something like that, right? Because numbers

3:11

were easy. But to me,

3:13

the hardest thing to truly understand

3:16

and master has always been the human mind.

3:18

And I really wanted to dive deep

3:21

there very early because

3:23

I started to have very interesting

3:25

experiences with my own dreams.

3:27

I would dream with Rick mythology when

3:30

I had no idea what those things were like,

3:32

where is this coming from? So I had

3:34

this deep curiosity for the human

3:36

mind. And that's how I got started.

3:38

So I've always in business. And

3:41

I was always studying the

3:43

human mind, or human beings

3:46

in general, and why we do things, and why we

3:48

don't do certain things, and what makes people

3:50

successful, what doesn't make people successful.

3:53

And that's how I did it. So

3:55

then, I grew very rapidly

3:57

in the corporate world. I became

3:59

a director of human resources of a technology

4:01

company when I was 15, when I was

4:03

25, like 10 years later. So I

4:05

grew super fast, always

4:07

with my businesses on the side until

4:09

I decided to shift gears

4:12

and switch the side of the table

4:14

I was sitting on. I was always the one hiring

4:17

and now I want to be with people helping them

4:19

truly achieve amazing results. So

4:21

that's the background of my story. That's how

4:23

I got started.

4:24

That's amazing. And we talk about

4:27

your money mindset, and alluding to that,

4:29

but also usually for

4:31

all of us, our financial,

4:34

either prosperity or failures

4:36

come from your childhood, right?

4:39

Either comes from childhood trauma or you were

4:41

taught something, but it really does come from

4:43

your childhood. Which is, where most

4:45

parents go wrong is we don't

4:47

recognize that issue. So

4:49

you were able to have two

4:51

parents that are entrepreneurs, one more

4:53

of a visionary high mindset, the other

4:55

more of a hard worker. And so you got the best

4:58

of both worlds when it comes to being a business owner.

5:00

How, when you first did that and

5:03

had that mindset at 15 and started

5:05

working, how did you go from. Entrepreneur

5:08

mindset and having those to going into

5:10

the corporate world, because that seems like a backwards

5:12

way of doing things.

5:14

Yes, that is so true. Then I'm

5:16

going to share a bit of my physical philosophy

5:19

about how we show up. I

5:21

believe that entrepreneurship is so much

5:23

more a set of values

5:26

and beliefs than the role

5:28

that you choose for yourself. I always

5:30

saw myself as an entrepreneur, even

5:32

as a leader, even as a C level

5:35

executive, and I taught my

5:37

direct reports to be entrepreneurs,

5:40

meaning I wanted them to think

5:42

in terms of solving problems,

5:45

adding value to people, never

5:47

having a ceiling that

5:49

would limit their growth. I always

5:52

wanted them to think beyond their

5:54

job description. And that to

5:56

me is an entrepreneurial mindset.

5:59

So I've always seen myself being

6:01

an entrepreneur in any aspect of

6:04

business and life. I even remember

6:06

the, my first job, they

6:09

wanted to pay me. And I'm like

6:11

no, I don't want to get paid. I'm

6:13

here to learn. I should be paying you

6:15

guys to get this job.

6:18

And they were like, so confused. So

6:20

what is this girl talking about? But

6:22

it is the entrepreneurial mindset. So

6:25

in whenever when I was working corporate,

6:29

I had that mindset. I

6:31

took full ownership for my positions.

6:34

So often. I would bring

6:36

in, let's say, profit savings

6:38

that were not even part of my scope. Or

6:41

I would bring in new revenue

6:43

ideas to help the business grow.

6:46

Or I would bring in ideas

6:48

to acquire, merge with other companies.

6:50

So I was always that person. Sorry.

6:52

So I think that there is a big

6:54

opportunity for people, even in corporates, to

6:57

tap into this Entrepreneurial

6:59

mindset or way of being so

7:01

that they can even grow in their careers. You

7:04

don't have to be a business owner

7:06

to be an entrepreneur. I

7:08

absolutely love that and agree

7:10

as many percentages as possible. Usually a

7:12

hundred because even if you

7:14

are a W2 and you work for someone, if you have

7:17

that mindset, You are helping the

7:19

greater good, right? Yes. There are

7:21

risks of being a business owner. And I say this every

7:23

podcast, being a business owner sucks. There's

7:25

a lot that goes into it. But being

7:27

a W2 person, even if you have that entrepreneurial

7:30

mindset, you are helping so much

7:32

more. Now I will say there's a caveat

7:34

to that. Don't get taken advantage of.

7:37

So how did you go through the corporate world?

7:39

Bringing all the profitability, bringing all

7:41

these great ideas, bringing the entrepreneur inside

7:44

of a corporate setting. How did

7:46

you go about doing that without

7:48

feeling like you're getting taken advantage of from a

7:50

salary benefits position perspective?

7:54

That is a really great point because

7:56

I see a lot of people feeling very

7:58

resentful for what they do for

8:01

other people. I hear this a lot. I'm working

8:03

so hard to make people to make money

8:05

for other people. I'm not making money for myself.

8:08

That is the resentment for

8:10

me. We feel this way when there

8:12

is a lack of balance between giving and receiving.

8:15

That is the formula to resentment

8:18

to me and so. Sometimes,

8:21

and this actually just happened with me recently,

8:24

because I was partnering, I was working

8:26

with another company that

8:29

was very fulfilling to me. And

8:32

that wasn't necessarily directly paid

8:34

with dividends or with a salary,

8:37

but I felt really good. What does

8:39

that mean? I was giving a lot,

8:41

but I was also receiving a lot. I was

8:43

receiving a lot of opportunities to grow, a

8:46

massive opportunity to impact

8:48

people globally. I

8:50

was receiving my parts, not necessarily

8:52

in the monetary aspect of things, but

8:55

I was receiving a lot. So

8:57

we always have to find that balance, I believe,

8:59

so I like if you, if it's, if you're not receiving

9:01

that balance. In the form of money,

9:04

immediate money, present money, is it

9:06

going to be paying off in the future? Are

9:08

you going to be receiving dividends in the future?

9:10

And people quit their jobs

9:12

when they see that there's no way around

9:14

that giving and receiving balance. They're giving so

9:17

much more than the company is capable

9:19

of giving back. So

9:22

that is a big problem. And that's

9:24

one of the reasons why, when I was a director

9:26

of this company, I created a sustainability

9:28

program that actually

9:30

allowed people to give and receive in different

9:33

forms. So I had a lot of

9:35

philanthropy projects in

9:37

place because people would have

9:39

all the ways of receiving appreciation

9:42

and love and, the, and even

9:44

different ways of giving back. So

9:47

only for whoever is listening to this.

9:50

And if you're thinking about even becoming a business

9:52

owner, I think the formula is pretty much

9:54

the same. What I do

9:56

with my business with quantum evolution

9:59

is pretty much to reverse that formula

10:01

because business owners. They tend

10:03

to give so much to the business.

10:07

So much, but they don't receive

10:09

back. They work for the business. Like

10:11

the same thing when you're working in corporate,

10:13

you're working for corporate. What

10:16

are you getting out of it? And what

10:18

I do, I flip that relationship.

10:21

So now I teach my

10:23

clients to get the business to work

10:25

for them. So then now they get

10:27

to be the ones that receive. Right?

10:30

Actually the lack of balance between

10:33

giving and receiving was basically the reason why

10:35

I quit. Yeah. Because I want,

10:37

I was giving so much that

10:40

I couldn't see a way out. And

10:43

that's

10:44

so important that you say balance of

10:46

giving and receiving because it's more of the emotional

10:48

fields. It's not usually dollars. I think

10:50

corporate specifically, a lot of CEOs get this entirely

10:53

wrong because most of them are narcissistic. In my opinion,

10:56

they care more about money and all of those things

10:58

and how the stock's doing and the return

11:00

on investments and all those things. But like the. Employees

11:03

in the normal people care about how

11:05

are they being treated? Are

11:07

they able to be happy and live a life they

11:09

want to live under, whatever

11:12

structure it is. And that's feelings.

11:14

That's not money. That's feelings and emotions.

11:16

And that really is why

11:18

we're on the money mindset series today, but also in

11:20

general of why my

11:23

firm black mammoth, and we have no BS wealth

11:25

is. We need to get across to everyone

11:28

that in this world, humanity

11:31

and us caring for each other is

11:34

the only thing that we need right

11:36

now is money important. Yes, because our

11:39

society is integrated with it at this point, but

11:41

it is important for us to understand

11:43

that the emotions and feelings are tied to all

11:46

of these decisions. And it's, you

11:48

can't rely on because it's money. You can't rely

11:50

on because of that. And so I love the balance

11:53

of give and take. So you brought it

11:55

up. It was a really good little smooth

11:57

transition into your business with quantum

12:00

evolution. First of all, bad ass

12:02

name. Okay. I just love

12:04

it.

12:05

The second part is talk us through

12:07

how and why you named it quantum evolution.

12:09

Cause that's something we need to highlight.

12:11

Yes, thank you. The name

12:14

was definitely an inspiration

12:16

in many ways, and

12:18

I do believe that it translates

12:21

very much so how I see

12:23

the world and I, what I help

12:25

people do. I do believe in energy

12:28

and I do believe that everything is energy. Is

12:30

energy, including money and

12:32

money needs to flow money needs to move.

12:35

For me, when I talk about.

12:38

Evolving that

12:40

is what people really wants. People wants

12:43

to grow. People wants to evolve.

12:45

People wants to feel like they're growing

12:47

so that. They can give back.

12:50

This is the cycle. This is the most fulfilling cycle

12:52

in life. We want to grow, and

12:54

the more we grow, the more we can contribute

12:57

and give back, and we keep

12:59

receiving. So it's almost like this infinite

13:02

loop of great feelings,

13:04

as you said, right? Feeling really great

13:06

about life and feeling meaningful,

13:08

feeling important, and

13:11

feeling impactful. I

13:14

heard someone say, like a person that I follow,

13:17

she's an investor, she said that

13:19

if you really want to make a change in the world,

13:22

becoming a millionaire is taking a moral stand

13:24

for that cause. And it really hit my

13:26

heart, deep here in my soul, because

13:29

it is so true. I believe

13:31

that we, all good people,

13:33

great human beings, must be very wealthy.

13:36

Because if we are wealthy, we can make

13:38

so many wonderful things in the world.

13:41

I fight for that cause, that's how

13:43

my, the name of my company

13:46

came up because I

13:48

do believe in this expensive, prosperous,

13:51

abundant energy that we can all tap

13:53

into and how we can evolve

13:55

together. To become even better

13:58

human beings so that more people can

14:00

be impacted by our work. And

14:02

that is my cause, right? So

14:04

that, that's why my name is quantum

14:07

evolution.

14:08

That's amazing. Well done on that one. Thought

14:10

through. Love it. Love it. All

14:13

right, so obviously,

14:15

if we've got through the name, we went through your background. Now

14:17

we're, let's get into your services and what

14:19

you provide. I don't want to just, gloss

14:22

over it and call it coaching. I want you

14:24

to really hone in and let people know what the

14:26

services are. Because I think

14:28

it makes more sense in, and

14:30

we'll get to it of what, why I say, I don't

14:32

want to just label it coaching, but get into

14:34

your services, what they're about, what you're

14:36

about and what, how you actually help individuals

14:39

or a business owner, sorry.

14:40

Yeah, sure. In my world, I've

14:43

been doing this for a long time, and

14:45

I'm a strategist, I'm going to put it this way,

14:48

right? I can see many

14:50

moving pieces all put together

14:52

and organize them and line them up and

14:55

create a plan and execute that plan. I

14:57

have that ability to do those things.

15:00

So why am I saying that to you? Because

15:02

I know that the life

15:04

of a business owner is not simple

15:06

and it's not simplistic. It's highly

15:09

complex. If we just get

15:11

the mind at peace or the way your mind

15:13

is set, Poor entrepreneur, look at

15:15

like my story and how complex it is. We are

15:17

all that way, right? Every

15:19

time I listen to stories, I heard some of

15:22

the stories of our guests. It's

15:24

like this web of

15:26

information and events and stories

15:29

and goals and future. So

15:33

what I do with my clients

15:35

is to provide frameworks

15:38

to help them organize

15:41

their minds and their lives and their business

15:43

in a way that's highly optimized. So

15:46

one of my mantras in my business that we do

15:49

to do less, to do more, we do less. So

15:51

I'm all about really optimizing things. And

15:54

I know also that the bigger your business

15:56

is, the more complex this web will be. So

15:59

there are two different ways that I work with my clients.

16:03

For clients who are in

16:05

the seven digit

16:08

worlds, I know

16:10

that they have a team, they need

16:12

a team actually to be in that space. They

16:14

have systems, they have partners, the

16:16

complexity is much higher and their

16:19

money container is much bigger too. So

16:21

they need more money support even

16:24

in terms of mindset. So

16:26

in this case, I work with my clients individually.

16:29

And I, my

16:31

clients named me their ghost,

16:34

CEO. So I

16:36

become almost like as if I'm a

16:38

second CEO in their companies where

16:40

now I am the personal advisor

16:42

of the owner or the CEO, where

16:45

I help them weekly and

16:47

they have access to me at any time because

16:50

I know that problems happen like in a heartbeat

16:52

for people in this place, in the who

16:54

are actually in the space of their lives and their

16:56

business. So I want to make sure they can have

16:59

access to me right away. So

17:01

it's very how can I say tailor

17:04

made for their needs? So

17:06

I work with them individually as their personal

17:09

business advisor. And

17:12

then I also have a mastermind and

17:14

I did that because I'm a strategist. So

17:16

there are many things that are very

17:19

what can I say? Predictable because we

17:21

are all beings of pattern as well. We,

17:23

we have we do have those patterns. So

17:26

my mastermind allows more

17:28

people with different types of

17:30

businesses, even startups. to come in

17:32

and learn this methodology where you

17:35

do less or any more from the

17:37

business. So my one on one

17:39

program is called Freedom Alchemy and

17:41

my mastermind is called the CEO

17:44

Advisory. So that, those are the two ways

17:46

that I help people right out, right away.

17:48

I am so happy you brought up that they

17:51

need a team, like they have to have a team. Yes. I

17:53

talk about it all the time with business owners and

17:55

on obviously all my shows is To

17:57

be successful. You have to have a team, the most

18:00

successful business owners, wealthiest people in the

18:02

world have a team

18:04

that team can be made up of many different people,

18:06

parts in your business, on your business, outside

18:09

of your business. But if you do not have

18:11

one and you were trying to go this alone, you'll

18:13

drop a ball somewhere, something will fail, something

18:16

will happen. And that's usually in my

18:18

opinion, by most businesses fail

18:20

is because they don't have that team. They

18:22

don't have a strategist. They don't have.

18:25

My services, personal CFO, which aligns

18:27

a lot with what you do, which

18:29

we'll discuss off air. But it

18:31

allows them to work

18:34

in whatever role they are and allows

18:36

that team to do everything else. And

18:38

if you don't do that, businesses

18:41

fail. So I'm so happy you brought that up now.

18:44

And I want everyone to recognize

18:46

how we talked about strategists

18:49

and using that term as opposed to coaching. I,

18:51

for one, former athlete, understand

18:54

coaching. I understand how coaching

18:56

is in my industry, how coaching is

18:58

in a marketing tool for a lot of people

19:00

out there. I have TikTok. I have Instagram.

19:03

I've seen it all. We see it out there. Can

19:06

you talk to me about this?

19:09

We're in social media land right now, where

19:11

everyone seems to be a coach, right? A

19:14

financial coach, a mental coach, a business coach, name

19:16

it right there. They're out there and

19:18

they spew a lot of courses. They spew a lot of

19:20

books. They generically just talk about things

19:23

and why that is so much different than having

19:26

a strategist on their

19:28

team, as opposed to just like one of those

19:30

coaches that we hear about nonstop on

19:32

social media.

19:33

Yeah. Yeah. Thank you for

19:35

bringing this up as well, because that

19:37

is such a huge distinction

19:39

that people really don't understand

19:41

the difference because everybody now get to

19:43

be a coach. And by the

19:45

way, I was a coach for

19:48

many years, for a decade, like

19:50

owning this role. So what is the

19:53

role of the coach?

19:55

It is to help you, you

19:59

personally come up with your own solutions.

20:02

It is to help you come up

20:04

with your breakthroughs, your insights

20:06

based on questions, based

20:09

on specific exercises,

20:12

frameworks. There is a whole

20:14

methodology to it, which is fantastic.

20:17

I think that many times there is a big space,

20:19

even as a strategist, to be the

20:21

coach. Where you know

20:24

it is not the best thing to do to give

20:26

exactly what your client needs to do

20:29

to give the framework to give the strategy

20:31

to provide that the client many

20:34

times needs to come up with a solution

20:37

alone because there is this thing

20:39

called the human mind right and the

20:41

human condition and many people

20:43

they don't like actually to be told what to do

20:46

they'd rather just cover or

20:48

have the feeling it. Okay. Okay. That they are discovering

20:51

by themselves what is the best

20:53

way for them, that is

20:56

proven to be very effective. The

20:58

coach has methodologies to

21:00

lead the client to certain

21:03

breakthroughs insights.

21:06

So that the client can then take action

21:08

because it feels like they had

21:11

that breakthrough alone, right? So

21:13

that to me that's the distinction of a

21:15

coach and the coach is very focused on

21:17

what's happening now Based on

21:19

what you want in the future so

21:22

this is the framework what do you want now

21:24

based on what you want in the future and

21:26

The client comes up with a game plan

21:29

with the help of the coach The

21:31

strategist is very different. The strategist

21:33

is someone that was in the fields. The

21:35

strategist is someone that walks the walk

21:37

entirely, that knows

21:40

the secret, hidden

21:42

things that nobody knows about, knows

21:44

all the blind spots, and knows

21:46

exactly how to solve the problem,

21:49

and can give that solution right

21:51

away with a game plan, with accountability,

21:54

with processes in place. That,

21:56

to me, is the strategist. I've owned that identity

21:58

as well, because, yes, I've walked the walk,

22:03

excuse me, and I've done a lot

22:06

of things. Many times it

22:08

is so much better to give exactly

22:10

what the client needs based on.

22:13

Not only your experience, but based on the market

22:15

based on what's happened to the world based on

22:17

other people's experiences. So

22:20

there is a space for a strategist

22:23

or an advisor in

22:25

addition to the coaching space and

22:27

in the coaching space. There

22:31

are many people that will be

22:33

coaches of, say a relationship

22:35

coach or a business

22:37

coach, even that haven't

22:40

necessarily figured stuff out because

22:42

a lot of people and I've worked with hundreds

22:44

of coaches, by the way. So 1 of my

22:46

main ideal clients are actually coaches.

22:49

I help them grow their business. They

22:51

are choosing to work with people with

22:53

similar stories, as if we

22:55

are their clients or mirror reflections of themselves.

22:57

And many times they haven't figured that out

23:00

yet, so they're figuring it out

23:02

and they're like, I want to help people figure that out too.

23:05

So they get stuck in that sensation

23:08

of being like a set, like

23:10

a, how can I say, like an imposter

23:13

in the process. That's the biggest thing with coaches

23:15

when I'm working with them, they're afraid of being an

23:17

imposter because they haven't figured stuff

23:19

out. Which is different than the strategist.

23:21

The strategist has walked the walk. And

23:24

you as a strategist, I'm pretty sure you walked a walk.

23:26

Right?

23:26

And

23:27

that's the biggest thing.

23:28

Yeah, and obviously you're right on

23:30

that. And I think another big point of that is when

23:32

you've walked the walk, Or

23:34

have walked it with a client, whatever, the situation,

23:37

where we need to turn is

23:39

you can tell the client we're

23:41

not doing that. You cannot

23:43

exactly

23:44

coaches. I feel like I, and I, again, I'm

23:46

not speaking for everyone and I'll generalize it because

23:48

that's what I'm going to do, but I believe

23:50

coaches are more of yes, men and women. Yes,

23:53

you can do it. You just have the right mindset.

23:55

We can do this. We can get through this. Yes. As

23:58

opposed to there's a lot of times

24:00

in business that it just a straight up,

24:03

not yet, not now, not

24:05

ever, this doesn't, does not

24:07

need to be done. And I believe that is more powerful

24:09

and valuable than having someone

24:11

always behind you, propping you up with my

24:13

clients. And the ones that I

24:16

attract are the ones that are looking for those

24:18

people to be, I need you to

24:20

tell me no, when I'm going too

24:22

fast, too far or doing the wrong

24:24

thing. I don't need you to prop me up and say, yes,

24:27

like I know that'll come, but if you,

24:29

I need you to hone me in

24:31

and reign me in and allow me to do

24:33

the right things at the right time. And

24:36

that is way more powerful. And for me, that's

24:38

where the distinction between strategists. And

24:41

coaching comes into play. And I

24:43

just don't think that you

24:45

need as much of yes, people in your world.

24:47

I think our society has enough

24:50

of that. I feel like that's all we

24:52

see is all of that. And positivity

24:54

is great. Don't get me wrong, but all we see

24:56

is those successful outcomes. When there's

24:58

more failures and more things to learn

25:00

from on that side that we don't discuss,

25:03

right? We don't talk about those. We don't talk about

25:06

if you have a bad partnership and

25:08

The only way to get out is to spend 100,

25:11

000 in attorney's fees and take on debt We don't

25:13

talk about if you pick the

25:15

wrong product or the wrong Timing that

25:18

it costs you X amount in marketing and can

25:20

set you back two years. We don't talk about those things

25:22

And those are the things that as a strategist,

25:24

we've been through those. So we can say, guess

25:26

what? We're not going to go down that route. We've

25:29

been there. No let's do

25:31

it this way. That is why

25:34

we have this podcast. That's why I have you on here. I want

25:36

those discussions, not the, Hey,

25:38

I made seven figures this year for the

25:41

first time. Cool. But like how, and

25:43

what decisions did you not make? And

25:45

we're told not to make that actually led to

25:47

those.

25:48

Yes, I agree with you 100%.

25:51

I had an interesting

25:54

situation a month ago or

25:56

so, you're talking about hiring teams. And

25:58

this was something I've done my whole life as well. I've

26:00

hired thousands of people, in my,

26:03

as a director of human resources. I'm

26:05

working with these clients and they

26:08

do want to hire a team. I'm

26:10

like, okay, great. Let's now figure out who do

26:12

you really need to hire? For what

26:14

reasons? What is the purpose of the hiring?

26:17

What do you want to gain out of this team?

26:19

I wanna make sure that the team is not only an expense,

26:22

they have to be profit generators,

26:24

right? We are having this conversation. And

26:26

then they're like, okay, great. We're going to, we're going to come

26:28

up with a job description. So in the

26:30

next conversation that I have with them, they actually

26:32

come up with me, to me saying

26:34

that they hired two people like,

26:36

Oh, interesting. Who did you hire?

26:39

Oh, my friend who really needed a

26:41

job. And this guy

26:44

that's been asking for a job for a long time.

26:46

I'm like, Oh, okay.

26:49

Here's my opinion about this. Yeah. You

26:51

shouldn't hire these people. You

26:54

should not do this. This is why. And then I

26:56

gave them all the reasons. Now at the end

26:58

of the day, it's their decision

27:00

to do what they want to do. And

27:03

I don't necessarily like to be right. I

27:05

tell them that. Sometimes you can prove me wrong,

27:07

but I'm usually right. So

27:10

you shouldn't hire these people. Fast

27:12

forward two months. Here's what's

27:14

happening. They're spending so much time training

27:17

a team that's not the team that

27:19

they should be hiring instead. And

27:21

they are learning a lesson. That

27:24

is a lesson also that the strategy can, the

27:26

strategist can teach. Because

27:28

you're telling them to do something and they can

27:30

go against that and that's not good. Up

27:33

to them, but there is a

27:35

big lesson and the biggest lesson

27:37

is that nobody is going to replace their

27:39

time. The time that they wasted

27:41

with a strategy that wasn't aligned

27:43

necessarily with their goals. So

27:46

they are listening to me now more

27:48

than ever, and I love

27:50

the fact that you get to have that

27:52

freedom as well as a strategist

27:55

to be able to tell clients what

27:57

is the best way. And then ultimately

27:59

discuss what is the right, the best

28:01

path for that specific client. Yes

28:04

coaching is not necessarily going to

28:06

give you that outcome. If you are a business

28:08

owner listening to this and you want to work

28:10

with STOI so you're going to tell the truth. I'm pretty

28:13

sure not wanting you to figure

28:15

that out and waste all of your time and

28:17

your precious energy and money

28:20

with trial and error. situations,

28:23

you're going to give them the path. So that's

28:26

very valuable.

28:27

It is. And it's very valuable if you're looking

28:29

for one and you're, interviewing

28:31

and searching for a strategist make

28:33

sure that you

28:35

can one, relate to them and trust them,

28:38

but that they can be blunt and transparent

28:40

with you, that is, I believe, one of

28:42

the biggest characteristics that we have

28:44

to have. We have to be able to,

28:46

like in your situation, yeah, it

28:48

might be funny and jokable, but I'm gonna say,

28:51

I told you oh yes.

28:52

I always do that. I'm gonna fly it

28:53

out and say, See, I

28:55

told you so next time, right?

28:58

And you have to have those conversations.

29:00

And what people don't understand is,

29:03

The more wealthy and successful people, Have

29:06

those blunt, direct conversations. They

29:08

don't beat around the bush. And the reason they don't beat around

29:10

the bush is there's no time to, because

29:13

time, if you waste it is where, like

29:15

you said, that's our value. That's our resource

29:17

is time. We're trying to be as efficient

29:20

as possible. And us beating around the bush

29:22

for a half hour, trying to in our

29:24

way around, like trying to say, you told

29:26

yourself it's not worth it, you

29:28

went against what we said, it didn't

29:30

work, told you, so let's move on.

29:32

And I believe that builds even more trust. So if

29:35

you're looking to hire one of us or someone like

29:37

us, and there's differences between all

29:39

of us as well, just factor

29:41

that into it. All of it as

29:43

well. In my opinion, so we

29:46

get through strategy. Someone's

29:48

working with you. Why

29:51

would they? Want to, I know

29:53

we've alluded to it a little bit, but why would they want

29:56

to go hire strategists and more importantly, when

29:58

should they go hire someone

30:01

or strategy?

30:02

Yes. So

30:05

when you are, what

30:08

actually, when you decide that now

30:10

is truly the right time to get

30:12

work done, because a strategist will

30:14

get you to work, strategists will come up

30:16

with a plan and you're all going to hold, you're going

30:18

to be held accountable. For

30:21

that plan, and

30:23

1 of the main questions I ask my clients

30:25

or whenever they are before they become

30:28

my client is when now. Is

30:30

going to be the best time for you to get

30:32

started when now is going to be the best time

30:34

for you to get started. Because it has

30:37

to be at some point. If

30:39

you believe that you're

30:41

wasting your time and your energy

30:45

and your money trying to figure stuff

30:47

out by yourself, and if you imagine

30:49

that you had taken action a year

30:51

ago, you would be in a completely

30:53

different spot today, then

30:56

you have to reach out to someone and get help right

30:58

now, because you're now regretting

31:00

your decisions. You wish

31:02

you had made that decision a year

31:04

ago, you must make this decision

31:06

right away. I think that's the

31:08

biggest thing. Some

31:11

people are actually comfortable with what they have,

31:13

which drives me nuts. But if

31:16

that is true, if you're comfortable

31:18

where you're at, so don't

31:20

hire a strategist because the strategist

31:22

will get you to work, but that

31:25

is not true for entrepreneurs. Usually

31:27

entrepreneurs always wants to evolve and

31:29

grow. I would say that is the key question.

31:32

If you were regretting

31:34

a decision that you could have made in the past, you

31:37

gotta make it right now. And

31:40

how to trust this person, just look

31:42

at who this person really is. And

31:44

I would say, What

31:48

their values as well, right? What are the values?

31:50

I saw your stuff story. I'm like, great. We are

31:52

very much aligned in terms of values

31:54

and what we believe in. The name of your

31:57

podcast is absolutely genius

31:59

as well. It tells a lot about

32:01

your values and what you believe in and

32:04

look for these people with a.

32:06

A story of

32:09

success and not only

32:12

helping other people, but their personal

32:14

success and we know how they're

32:16

look for their upbringings, how

32:18

they were raised, how

32:21

they came up in the world, how they grew,

32:23

how they actually achieved what they are,

32:25

because that also tells you what they are capable

32:27

of doing for you. And with

32:30

you for me now is always the right time. Imagine

32:33

if we were waiting for

32:35

the stars to align to be able to make a decision

32:38

that we really need to make. That's

32:40

never going to happen. Never going to

32:42

happen. And one thing we can

32:44

never get back is time.

32:47

So time is the only thing. That

32:49

we can't get back. You can

32:52

recover. You can get your money

32:55

back. You can get your energy back.

32:57

You can get your house, your car,

32:59

your belongings back, but time you cannot.

33:02

So if currently, if you believe you're wasting your time,

33:06

raise your hand. That's

33:09

it.

33:10

Absolutely. Just take that next step. Yeah.

33:13

And I tell everyone was like, I work with a

33:17

female in a minority business

33:19

owners who are ready to take that next step. And

33:21

that's exactly what you're saying is it's when

33:24

you are, you feel like you're ready. You're probably

33:26

way past the time that you should have already done it,

33:29

but at least mentally you're like, okay, I have

33:31

to, I'm wasting too much time and energy and I

33:33

want everyone to recognize though, that it

33:36

will cost money. Let's be real. It's

33:38

going to cost money. Everything does,

33:40

but that time is

33:42

what you need to recognize of how much it's going

33:45

to save you. It's going to be a lot of work. I'm not

33:47

going to be wrong. I'm like, it's going to be a lot of work,

33:49

but it's going to free up your time eventually.

33:51

And that is where the value really comes from.

33:54

And everyone always asks me like, how much money should I spend on

33:56

a strategist or hiring you

33:58

or marketing, et cetera. And

34:00

I always say that your marketing budget,

34:03

which entertains social media and advertising

34:05

and all of that. Should be probably

34:07

20 percent of your overall budget. Okay.

34:10

And the reason for that is because there's a lot of moving parts

34:12

to it, but you need to go into it, building

34:14

that out to help you understand

34:17

what it's going to cost and take, and

34:20

guess what? All of that marketing

34:23

strategy, me. It's

34:25

for the journey. It's not, getting

34:28

rich tomorrow. It's building

34:30

in this process over a long period of

34:32

time and guess what? It never goes away. You

34:34

can't just stop doing it. It's not

34:36

a where I can put a band aid on it and

34:38

it heals up. We're good. No. You have

34:40

to always be working on it and moving

34:42

forward and adapting. And so that's

34:45

why I always say that, 20%. A lot of people

34:47

always say it should be less. Big

34:49

to differ. Look at the number. With

34:51

that, what are one

34:53

or two things you want to leave all the listeners

34:55

with? We give them a lot of great nuggets as

34:58

well, but what is like one or two

35:00

things that they could immediately

35:02

work on without hiring

35:04

one of us right

35:06

now today to hopefully change

35:08

that curve and allow them to take that step

35:10

to hire someone like that?

35:12

Yes. Wow. Oh my goodness. Two,

35:15

I think of

35:17

a few, but the number one thing

35:19

that comes to mind as you're

35:22

talking about how much money they should

35:24

be investing, or they should invest

35:26

in someone or a strategist to get support

35:30

is that they,

35:33

number one, they actually

35:35

acknowledge what is

35:37

the goal that they want? What is the vision that they have?

35:40

So let's say, they're making now

35:42

$500,000 per year,

35:44

but they actually, they want to be making $5

35:46

million actually per year. How,

35:51

the equivalent money that you're gonna be investing

35:53

in yourself is not about

35:55

the 500 that you're making right now.

35:57

It's about the 5 million you actually

36:00

want to make in the future. So

36:03

many times people make financial

36:05

decisions based on their

36:08

reality or their current financial

36:10

situation. And

36:12

they don't make decisions based on

36:14

what is required of

36:16

them to get the outcome that they want

36:19

in the future instead, right?

36:21

So sometimes that decision

36:24

can feel, they can feel

36:26

a little uncomfortable or

36:28

too bold, like you said, like investing

36:30

20 percent in marketing is

36:34

the minimum non

36:36

negotiable,

36:37

right?

36:37

Why? Because there's a big goal to be achieved.

36:40

If you are okay with your status quo right

36:42

now. You will need to invest 20

36:44

percent in marketing, but that's not what they want. So

36:48

I would say that whatever financial

36:50

decision they need to make, it needs to be

36:53

Something, of course, considering the

36:55

current situation, but most importantly, what

36:58

is required of them to get the final

37:00

outcome that they want. If you're

37:02

only comfortable spending a 1000 dollars, let's

37:04

say right now, and you're making 500,

37:07

maybe you're going to have to spend 10 times more than

37:09

that, or maybe 100 times more than

37:11

that to be able to get the 5 million. Let's say

37:13

even if you spent 100, 000 dollars, but

37:16

you're making 5 million, that makes

37:18

a lot of sense. All right. So

37:20

that's how I feel about this. I think that people

37:23

need to be more vision oriented

37:25

whenever they're making decisions in the now,

37:28

otherwise they're going to stay in the same place. That

37:31

would be my number one thing. And

37:33

the second thing is truly to understand

37:36

that now is always the best time. Always

37:39

the best time. One

37:41

of my main beliefs about

37:43

money is that every person

37:45

that has a decision To

37:47

work with me or to work with a strategist

37:50

to work with you story is that they

37:53

have money to be able

37:55

to invest. Or they

37:57

have access to money. So

38:01

many people, they don't make a decision to invest

38:03

in themselves because they have a belief that they don't have

38:05

money. They may not have money,

38:07

but you can have access to it. So

38:11

if right now, if you believe that you

38:13

don't have money, that is exactly

38:15

the reason why you need to work with

38:17

a financial strategist that will

38:19

show you how you can have the

38:21

money. Or how you can have access

38:24

to the money so that you can

38:26

reach that vision that you're looking for. All

38:28

right. So that is why I like the front, the strategist

38:30

is always necessary because

38:32

it's, this person will help you have access

38:35

to the money you want so that you can

38:37

make the money that you want. Or just

38:39

take the money that you want. So

38:41

I would say that. I would say that these two things

38:44

are the things that will help you take

38:46

that quantum leap. To

38:48

have the courage to do something

38:50

new. To do something different.

38:55

Different than what you've been doing so far. And

38:59

I would say those are my two go

39:02

to tips for you guys.

39:04

It's time to do something different. All right. And

39:06

you've heard it here from Ariella comb with quantum

39:09

evolution on the no BS wealth podcast

39:11

money mindset series, by the way, new

39:14

websites out to go to no BS wealth podcast.

39:17

com. We're trying to get no BS wealth. com, but

39:19

negotiation. So appreciate your

39:21

time. I look forward to blasting this

39:23

and I know we're going to have a lot of conversations popping

39:26

up from it. So thank you.

39:27

Thank you so much. That was awesome. The

39:29

proceeding program was sponsored by Black

39:31

Mammoth. Any awards, rankings,

39:33

or recognition by unaffiliated third

39:36

parties or publications are in no

39:38

way indicative of the advisor's future

39:40

performance or any individual client's

39:42

investment success. No award

39:45

ranking or recognition should be construed

39:47

as a current or past endorsement of black

39:49

mammoth. Information regarding specific

39:52

awards, rankings, or recognitions

39:54

is available on the Black Mammoth website,

39:56

www.black mammoth.com.

40:00

All investment strategies have the potential

40:02

for profit or loss. Investment

40:04

strategies such as asset allocation,

40:07

diversification, or rebalancing

40:09

do not assure or guarantee better

40:11

performance and cannot eliminate the

40:13

risk of investment losses. There

40:15

are no guarantees that a portfolio

40:17

employing these or any other strategy

40:19

will outperform a portfolio

40:21

that does not engage in such strategies.

40:24

This broadcast should not be construed by

40:26

any client or prospective client as

40:28

a solicitation to affect or attempt

40:30

to affect transactions and securities

40:33

or the rendering of personalized investment

40:35

advice due to various factors

40:37

including changing market conditions.

40:39

The information discussed in this broadcast

40:42

may no longer be reflective of current positions

40:44

or recommendations. While information

40:47

presented is believed to be factual

40:49

and up to date, Black Mammoth do not

40:51

guarantee its accuracy, and it should

40:53

not be regarded as a complete analysis

40:55

of the subjects discussed. The tax

40:58

and estate planning information discussed

41:00

is general in nature and is provided

41:02

for informational purposes only, and

41:04

should not be construed as legal or tax

41:07

advice. Listeners should consult

41:09

an attorney or tax professional regarding

41:11

their specific legal or tax situation.

41:14

Past performance is not indicative

41:16

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From The Podcast

NoBS Wealth

NOBS Wealth Podcast: Unpacking the Realities of Wealth and MindsetOverview:Join Stoy Hall in the captivating NOBS Wealth Podcast, where transparent, engaging conversations about wealth and mindset are at the forefront. As a wealth advisor at Black Mammoth, Stoy delves into the financial world with honesty and insight, cutting through the industry jargon to offer clear and actionable advice.Highlights:Money Mindset Series: Explore the intersection of psychology, emotions, and wealth. This series uncovers how your financial decisions are deeply influenced by your personal money story.Minority CFP Series: This series shines a light on the journeys of Black Certified Financial Planners, showcasing their contributions and diversifying perspectives in the financial industry.Alternative Investing Series: An exploration of investment opportunities beyond traditional stocks and bonds, revealing pathways to generational wealth through alternative investments.12 Days of Giving Series: This heartwarming series unveils stories of financial resilience during the holiday season. Listen to 12 client narratives, each revealing the emotional and human side of financial planning. From recent graduates to retirees, these stories emphasize the importance of mindset in overcoming financial challenges.Why Listen?The NOBS Wealth Podcast is more than just a financial advice platform; it's a source of inspiration and empowerment. Stoy Hall brings a wealth of knowledge and a unique, no-nonsense approach to discussing various aspects of finance. Whether you're navigating economic uncertainties or looking for innovative investment strategies, this podcast offers invaluable insights and personal stories to guide and motivate you in your financial journey.

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