April 16, 2025 • 31 mins
Eric Lloyd is a seasoned entrepreneur and trainer with a diverse background in various industries. Beginning his entrepreneurial journey at the age of 16, Eric made significant strides in commercial real estate by 21. His ventures have spanned landscaping, commercial cleaning, and real estate-based firms, showcasing his ability to create effective systems that drive business performance.
In addition to his professional pursuits, Eric is an experienced trainer with a demonstrated history in the financial services industry. He possesses skills in coaching, sales, entrepreneurship, and public speaking, reflecting his commitment to personal and professional development.
Beyond his career, Eric is a marathon runner, football coach, skiing enthusiast, and enjoys quality time with his horses. He is also a dedicated father to four children, balancing his professional achievements with a rich personal life.
During the show we discussed:
Executive coaching improves wealth through insights and better decisions.
Avoid mistakes like poor cash flow and mixing finances with planning and tracking.
Financial peace comes from setting goals and balancing finances.
Good sales strategies increase revenue and build wealth.
A financial scorecard tracks key metrics.
Entrepreneurs often overlook saving, diversifying, and managing risk.
Financial software, goal-setting, and regular reviews track progress.
Reinvest profits and monitor cash flow to scale a business.
Finding lost revenue boosts cash flow.
Passive income comes from investments, digital products, and automation.
Managing personal finances helps grow business and wealth.
Resources:
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:02):
(Transcribed by TurboScribe.ai. Go Unlimited to remove this message.) Welcome to the Business Credit and Financing Show.
Each week, we talk about the growth strategies
that matter most to entrepreneurs.
Listen in as we discuss the secrets to
getting credit and money to start and grow
your business.
And enjoy as we talk with seasoned business
owners, coaches, and industry leaders on a variety
(00:22):
of topics from advertising and marketing to the
nuts and bolts of running a highly successful
business.
And now, to introduce the host of our
show, financial expert and award-winning author, Ty
Crandall.
Hello, and thanks for joining us today.
I'm super excited you could be here because
today we're talking about building entrepreneurial wealth.
I mean, look, it's one of the most
(00:42):
important things that you need to know because
you're not just running a business to run
a business, right?
You're ultimately doing this to really establish wealth,
not just for your business, but for you
personally.
And we've got to give you the shortcuts
to be able to get there, and that's
exactly what we're gonna do today.
So with us is Eric Lloyd.
Now, Eric is actually a seasoned entrepreneur and
trainer with a diverse background in various different
(01:04):
industries.
So he actually had got his beginning in
his entrepreneurial journey at the age of 16,
and Eric made significant strides in commercial real
estate by the age of 21.
His ventures have spanned landscaping, commercial cleaning, and
real estate-based firms, showcasing his ability to
create effective systems that drive business performance.
Now, in addition to his professional pursuits, he
(01:24):
is an experienced trainer with a demonstrated history
in the financial services industry.
He possesses skills in coaching, sales, entrepreneurship, and
public speaking, reflecting his commitment to personal and
professional development.
Now, beyond his career, Eric is also a
marathon runner, a football coach, a skiing enthusiast,
and enjoys quality time with his horses.
(01:44):
He's also a dedicated father to four children,
balancing his professional achievements with a rich personal
life.
Eric, what's up, man?
Thanks for joining us today.
Hey, my pleasure.
I want to meet that guy.
He seems like he's kind of busy.
He seems pretty cool, right?
Like horses, it's all my favorite stuff in
one package.
Like we're going to be best friends, I
feel this.
Awesome, awesome.
No, my pleasure to be here.
(02:05):
So thanks for having me on, Ty.
Appreciate being here.
I appreciate you coming on.
Let me talk a little bit about executive
coaching to kind of get us started today,
because I think a lot of people, the
best of the best, have really strong coaches
that got them there, right?
And anybody that reads about the founders of
Google or Facebook or anything, they see that
they had them.
But I think small business owners, a lot
of us entrepreneurs are trying to go down
(02:27):
this path on our own, and we're not
really relying or using executive coaching.
And I think it's because we just don't
understand it very well.
So that being said, like, give me some
feedback.
How is it that an entrepreneur can leverage
coaching, executive coaching, to basically get closer to
building entrepreneurial wealth?
You know, Ty, I think you hit the
(02:47):
nail on the head, because most entrepreneurs, we're
very driven.
We're very autonomous.
We feel like we have to know it
all.
And the hard part is, is where do
we go to really get the information to
help us grow?
Well, we can go to places like your
podcast and follow information that way.
But when we look at things, we really
wanna say, okay, when we look at coaching
(03:07):
and what coaching is about, the idea is
really to look and see and identify where
you currently are, and then where you ultimately
wanna go.
And so it's like you're identifying your own
GPS or roadmap.
So it's like, okay, well, hey, I'm in
Miami and I wanna go to Tampa, and
I'm gonna drive, okay?
It's like, so you gotta have a GPS
(03:28):
to get there.
And so oftentimes what an executive coach does
is hones in on the skills that you
are tremendously good at and helps you to
leverage those.
We also help you identify maybe the skill
sets that you need some team members that
can help you to grow in those areas,
so you can maximize your time.
The cool thing is, is we want to
(03:49):
help you design the ultimate or architect the
life that you want.
And in and through that process, we use
key measurables like, okay, what is your revenue
doing?
How is this marketing campaign performing?
What's your ultimate exit strategy?
How much time do you wanna have in
and move forward?
And through a series of things like accountability
(04:11):
and a professional network and being able to
have those key players to help you to
win, that gives a little bit of a
30,000 foot view as far as what
the coaching process is like for an entrepreneur.
Wealth Factory, you really focus on helping entrepreneurs
build wealth.
And so what are some of the most
common financial mistakes that you're seeing that entrepreneurs
(04:33):
typically make?
Ooh, one of the most common mistakes that
are made is not having clarity on what
you're wanting to accomplish.
And not having clarity, it's like, okay, well,
I wanna grow my business by 20%
this year, or no, I wanna open up
10 different other locations.
I wanna franchise, I wanna expand quickly.
(04:56):
You know, it's like have clarity on what
you want and then have a system that's
based around you because we're all definitely unique
and have our own investor DNA.
But I think it's understanding where you are
today.
And one of the exercises that we go
through and most entrepreneurs, it's like, we're all
about the drive, drive, drive, drive, drive.
(05:17):
And oftentimes it's very important for us to
say, okay, where exactly are you right now
with everything from your estate plan?
Where are you right now with your finances,
your P&L?
Where are you right now with your debt?
Where are you right now with everything?
And we use that as a measuring stick
(05:38):
to say, okay, this is where you are.
And this is, you know, where do you
wanna go?
And so I think to answer that question
is one of the challenges is just understanding,
having clarity on where you are right now
and then where that entrepreneur ultimately wants to
go.
So I would say clarity would be the
biggest challenge, if you will.
(05:59):
Why do you think entrepreneurs struggle for this?
Because, you know, in the last two points,
it's really about knowing where you're going.
And I'll be honest with you, man.
I think in life, most people are lost.
Like I see this, it's kind of astonishing.
Most people are just going through life and
they don't even know where they're trying to
get to, what their goal is.
I'm a sailor, I'm a pilot.
So like to not know, like to start
off and not know where you're going could
(06:19):
be like disastrous in my world.
So like, why do we fail as entrepreneurs
to figure this out?
Why are so many people out there running
businesses and it seems like they get caught
in the muck of just getting things done
every day and they lose sight of the
direction of where they're actually trying to take
the organization?
Well, the awesome thing about what you just
mentioned is our mission here at Wealthfactory is
(06:41):
to help a million entrepreneurs attain financial peace.
And I think what happens is as entrepreneurs,
we get running so fast that sometimes we
don't enjoy the present and we don't have
the clarity that we wanna have in creating
that abundant life.
And so the idea behind that is, is
(07:01):
like you can be moving forward very quickly,
but also if you have the peace of
mind knowing that you're taken care of and
you've got things set up, or maybe you
decided you're gonna do things like cashflow banking
to where you're overfunding whole life insurance policies
and you're using that as a way to
fund businesses or you're using that as a
(07:23):
way to do different things.
So there's many different strategies that we key
in on to be able to help out.
So, but really at the end of the
day, it's really creating that financial peace because
it's like, as entrepreneurs, we're used to sprinting
and it's like sprint, sprint, sprint, sprint, sprint,
sprint.
But it's like, we gotta also enjoy the
process and create that abundant life.
(07:45):
Yeah, and I love the idea of financial
peace because I think that we all have
that.
It's interesting because when, sometimes I'll do a
podcast interview and somebody will ask me about
what I think about what we've done so
far.
And that really trips me up because my
mind is in the future.
Like I live in the future.
Like it's almost impossible to come to a
present moment.
And then it is impossible to go backwards,
(08:05):
like to even think about where I am
and what I've done.
And I don't think I'm alone in that.
I think a lot of us entrepreneurs struggle
with trying to be in the moment because
we are so forward-facing looking at what's
ahead.
So how do you get us grounded?
Like what do you do at Wealthfactory to
get people grounded in the present?
Ooh, one of the things that we do
(08:26):
is we have a professional network and that
professional network is designed not only with your,
you know, we have executive coaches, but we
call them wealth architects because we help you
design the life that you want to live
and create.
And so in that process, so let's say
one of the things that we do to
help you become present is, let's say we're
(08:48):
driving very, we're moving forward and maybe we
don't have a specific tax strategy to optimize
the way our business is moving.
Maybe we're not taking advantage of things like
our R&D credits, or maybe we're looking
at buying a commercial building for our business
and we need to look at cost segregation
opportunities.
(09:09):
And maybe we just get our taxes filed
to get them filed, but we don't have
a strategy.
So one of the things that we do
is, we do this thing called cashflow optimization.
We look at your current situation with a
unique set of eyes and say, okay, well,
have you considered this?
Well, this expense may be moving this around
over this way, you can optimize it.
(09:31):
And some of the greatest calls that I
have or the greatest connections, and I meet
with many of our clients face-to-face
and as I'm traveling the country, it's like,
hey, implementing this strategy ended up saving me
$150,000 on my taxes this last year.
Or now moving forward, I know how to
move and make this happen.
And so it's just a matter of looking
(09:52):
at those things.
And I would say it's unique to the
individual because we go through a process and
we use the team of advisors, but where
we can really make a difference is where
that individual entrepreneur may be having a challenge
or a struggle.
And that's where we can really help them
architect the financial future that they want.
And I love that because I think that
(10:14):
in a world where things are becoming more
automated and more AI based, I think that
you are the future, right?
It's this one-on-one deep relationship that
you can build to be able to lift
people up and help them through the difficult
process of entrepreneurship.
So I absolutely love it.
What are some of the other methods you're
using to help your clients and entrepreneurs accomplish
(10:34):
and gain financial peace?
Well, and one of the cool things that
we do, I'll just, this is an example
from this last week, and you mentioned AI
and I kind of, I smile a little
bit.
Yes, you do have one-on-one, but
what we do is we bring in different
professionals.
We have these weekly webinars and we have
these different interactions.
And one of our more recent one was
(10:55):
on the use of AI in your business.
And I was talking with this business owner,
he owns a financial firm, and he shifted
into using AI for his scheduling.
And he did that like two months ago
and across his team of 10 different employees
that he has, he's increased his bookings by
(11:18):
a hundred percent and he's increased his close
rate by 60%.
And so he's massively seeing the difference.
So what we do is we look at
what the individual circumstances are, and we're like,
hey, check this out.
By learning these couple of steps, you can
really enhance your business and really add value
(11:41):
to your customers and really build the brand
that you're wanting to build.
And so that's where I say it's unique
to the individual.
And that's where it gets fun because it's
like, yeah.
And for one individual, it might be a
tax strategy where it's like, hey, now I
have clarity.
For another individual, it might be, this is
a better way or a better funnel for
us to be able to move forward.
(12:01):
And sometimes it's like they may need certain
things where like, hey, I really wanna grow,
but where do I go?
And I need money to expand my business.
And that's where we bring you and your
team in to be able to help that
individual accomplish those needs.
Yeah, I love that and appreciate that as
well.
So how do you go through this diagnosis
(12:22):
process?
Like there's so many things an entrepreneur I'm
sure has problems that they're trying to tackle.
How do you triage that and figure out
the things that will have the greatest impact
to kind of address first?
Ooh, we have a very cool onboarding process
that identifies the most important things for the
individual that we're working with, the entrepreneur.
(12:43):
And then through that process, it brings forward
certain things.
So we have what we call a financial
scorecard.
We have different things that's highly interactive that
allows you to be able to look at
things.
And then based on the strategies that you're
wanting to implement, we do key introductions.
We're like, okay, let's look at taking action
(13:04):
here.
But before you take this action, let's talk
to one of our professional network tax advisors
and make sure that it fits for what
it is that you wanna do in moving
forward.
And so what happens is not only do
we have the practical discussion about it, but
we have a professional that helps to go
ahead and implement it.
I love your model so much because I
(13:25):
learned a long time ago in the beginning
stages of my entrepreneur journey that you do
what you do best and you outsource the
rest.
And it's not even just outsourcing.
It's just this idea, right?
That like everybody wants to do everything.
And then I really love this idea that
like you be really good at what you
do and then you find partners that are
really good and then have them help your
(13:47):
clients in those areas.
Why don't those entrepreneurs get this?
It seems like everybody tries to take it
all on and then they lose sight of
what their USP is, what they're really the
best at.
And I will say this in my earlier
years, Ty, I, you know, in driving, I
felt like I had to be the person
as an entrepreneur that knew everything.
(14:09):
And I clearly found out that I didn't
know everything.
And I clearly found out that having a
team can really elevate your game and having
the right players in the right positions on
the bus can help you really to win
and accomplish your goals.
Because then you have synergy and you've got
connections.
Then you can really, like you said, focus
(14:30):
in on what you do best and really
enhance that part of your business or your
entrepreneur life, whatever that looks like for the
individual.
What are you doing to help your clients
scale but still be able to maintain financial
stability?
Because what I found is that everybody wants
to scale, but the minute they start scaling
and growing, their margins shrink, sometimes to a
(14:52):
point where they start losing money.
And then it just becomes this stressful venture
where they're overwhelmed and then making less money
than they would have if they just would
have stayed at a level.
And so many people get to that million
and they try to climb to five or
10 and that just, it just falls apart.
So like, what do you do to help
your clients not fall victim to that?
I had a call earlier this week.
(15:14):
Well, I work with a, it's a couple.
They own a couple of dentists' offices, practices
and things like that.
And their goal is, like, she's the driver
and she wants to go ahead and add,
she wants to have 20 new locations in
the next five years.
Okay?
And he wants to grow incrementally at 10%,
(15:35):
okay, per year.
And so they have a little bit of
a, like, he wants to be safe and
she wants to be aggressive.
And the cool thing is, is you want
to look at it.
And in discussions, it's just identifying, well, if
you have a one or two businesses that
is fundamentally sound and you have.
And now a quick break to hear from
(15:57):
our sponsor.
Hey, it's Ty Crandall with Credit Suite.
Many of our subscribers want to get the
most money to grow their business at the
best terms.
Whether you're looking for startup capital, low interest
credit lines and loans, or business credit, we
can definitely help you.
So give us a call at 877-600
-2487, or schedule your free consultation at creditsuite
.com forward slash consult to see how much
(16:18):
money you can get approved for today.
A system built around that, that you can
expand on.
Then you want to have key relationships or
maybe key partnerships that can help you out.
But making sure that you're paying attention to
the fundamentals.
Because once you get locked in on things
like your taxes, your cashflow, your income and
your expenses, and then you're all about doing
(16:39):
the repeating or replicating that, you can grow.
It's great to be aggressive on it.
That's why we key so much in on
the fundamentals of saying, hey, this is where
you are.
We want to make sure we have the
fundamentals taken care of.
And oftentimes as part of that, we go
through an exercise.
We call it cashflow optimization, where it's like,
I like to call it find the money.
(17:00):
And I like to go through an entrepreneur's
financial scorecard and say, okay, well, where are
we going to find money?
And not that we're so focused on reducing
expenses, but far too often as entrepreneurs, we
rarely look back.
And just taking it in and maybe every
six months, looking back and saying, how can
I optimize what's taking place now?
(17:21):
And for example, I was having a conversation
with a wealth architecture member named Lisa.
And Lisa had just inherited five properties from
a family member.
And that family member had not increased the
rents in 20 years.
And you can imagine that each one of
the properties, these are all California properties, by
the way, each one of the properties was
(17:43):
underperforming by $2,000 a month, okay?
So it's just a matter of looking in
and seeing what's the optimization for that individual
that's going through the process, whether it's optimizing
the real estate portfolio they have or optimizing
their business that they have, or what is
(18:03):
it that they want to grow and maybe
their strategic partnerships that they can connect with.
And we also have a community, okay?
And the community at WealthFactory is one where
you can connect with other business owners and
like-minded individuals to synergize and just help
and be a support to each other.
One of the things that we really key
(18:23):
in on is we start every one of
our meetings and we talk about the wins.
We talk about each one of our wealth
architects goes around and shares three or four
wins from the previous week on how our
wealth architecture members are doing and how they're
implementing the strategies.
And so it's, yeah, we're forward-focused as
(18:44):
well and in moving forward.
You talked about real estate and I know
this is something you do personally as well
and have a vast experience of doing it.
What do you do to help identify and
capitalize on passive income opportunities?
Like what do you do to help your
clients actually identify and then actually capitalize on
passive income opportunities for them individually or for
(19:05):
their business?
So some of the things that we do
is we have a webinar series but we
also have a real estate course, okay?
And that real estate course is whether you're
a novice or you're a professional already.
So whether you have hundreds or thousands of
rental units and you wanna go to the
next level or you just wanna go ahead
and look at your first property.
The idea is look at what that investor
(19:27):
is looking for.
Are they looking for like consistent long-term
revenue?
I'm gonna buy a property at a certain
cap rate.
I want multifamily, I want my depreciation.
Like there's that investor.
You might have an investor that says, I
wanna be a little bit more aggressive.
I wanna get into short-term rentals and
(19:48):
maybe they do short-term rentals where maybe
the idea is to get a higher ROI
on that.
As long as you're taking care of your
occupancy and as long as you're doing things
along those lines, you may have investors that
maybe are hands-off and they're like, hey,
I'm into syndications where you're investing more in
someone else managing and doing those kinds of
things.
And so I think it just depends on
(20:10):
that investor's DNA, if you will, as far
as what they're interested in.
But the dynamics at the end of the
day is we look at their portfolio and
say, okay, are you maximizing the rents?
Are you maximizing your financing?
Which means you have the best rate and
term possible.
Are you in a place to be to
where you can?
(20:30):
And what we do is we tie in
the strategy based on what that individual's goals
are.
For example, working with Ashley in San Diego
and Ashley, she came to me as her
wealth architect and she said, hey, I want
to increase my net cashflow by $20,000
a month.
And so what we did is we looked
(20:51):
at, I looked at her current holdings and
her current, one of her holdings was a
Triplex in San Diego and she was negatively
cash flowing on that property $2,500 a
month.
So she was feeding it out of pocket.
But I just asked and I'm like, let's
look at the equity position.
Well, you have $750,000 in equity that
(21:12):
you're paying $2,500 a month to have.
So what if we repurpose that and do
a strategy like the 1031 exchange that allows
you to go buy other investments and increase
your cashflow?
So that's just one example.
So it depends on where that individual is
and it can be anything from, hey, I'm
considering real estate to, hey, I'm very advanced
and I want to use these advanced strategies.
(21:33):
So you just hit on a point that
I think is interesting.
How important is the personal financial scenario to
an entrepreneur successfully running a business and achieving
wealth?
Because it really seems like you're helping them
in both areas address these personal barriers they're
dealing with as well as business barriers.
So you must believe that those two combine
(21:54):
to be able to really accomplish true wealth.
Oh, yes.
And in combining the two, but we also
even get deeper and we ask questions about
what's your philosophy about money?
What's your relationship like with money?
And where does that come from?
And so we actually go through this thing
we call foundations.
(22:14):
And you'll find it's very enlightening for the
individual that we're working with.
It's very enlightening for the wealth architect as
well, because that brings forward the key targets,
if you will, to focus in on to
make adjustments that really kind of open the
floodgates.
And it's like, wow, I didn't consider this
(22:36):
ever, but now I'm able to move forward
and make things happen.
I will say this.
Normally when we have individuals start to engage
in working with Wealthfactory, we ask for a
year agreement, okay?
And that year agreement, what we find is
that the entrepreneurs that work with us, they
stay with us for years and years and
(22:58):
years, because they see the value in being
able to have that wealth architect or coach
that's continually helping them in moving forward.
Because it's like we evolve, right?
And it's like, I don't think any one
of us has ever achieved the level of
success.
And we're gonna say, oh, I'm there, I'm
done.
I think any entrepreneur knows that that's not
a reality where it's like, hey, I'm not
(23:20):
done growing.
I'm not done taking action.
I'm not done needing a team to be
able to help me move forward.
I'm interested, where do you find that a
lot of people get their relationship with money?
Because like me, I'm more of a spender
than a saver.
Like I like cool stuff.
My parents, 100% savers, like spend nothing,
say even in retirement, like when they have
(23:40):
a ton of money.
So like, I don't think I get that
from my parents, but like, what do you
find?
I mean, just to see like, where is
these relationships with money?
Where does that stem from when you're drilling
this down with your client?
Ooh, and it could be just like you
said, because your experience is the opposite.
So you said your parents were savers and
that you're great on spending.
I'm great at spending.
And I hope you don't mind, like we
(24:02):
were talking before this, you're like, yeah, man,
you gotta come hang out and you gotta,
I'll take you up on my plane and
we're gonna go do this.
And it's like, you're living that abundant lifestyle,
right?
But I think we've also experienced the opposite
where we're like, ooh, I really can't make
this move as an entrepreneur because it's really
cost-conscious and it's really holding me back
and maybe we get too much in our
minds.
(24:23):
And that can come from how we were
raised.
It can come from that.
It can come from maybe life experiences that
we've gone through, maybe a life switch.
It's like life happens to all of us.
And maybe that's had an impact on how
we view money and what our relationship is.
And so, but the idea is at the
end of the day, what we wanna help
(24:44):
you create is the, and define is the
abundant life and the abundant lifestyle that you
want.
Because I think freedom is something that is
uniquely intimate and different for us all.
For me, it's like, I want to, like
freedom for me is I can do whatever
I want and my decisions are not based
on not having money or having money.
It's like my decisions are based on my
(25:06):
values.
My decisions are based on the legacy that
I want to leave.
And many of us, we wanna leave a
legacy, but we don't even know how to
leave a legacy.
And so that's also part of what we
do in keying in on that foundations pieces.
Okay, what legacy are you wanting to create?
And how can you influence generations moving forward?
(25:26):
Much like the Rockefellers and unlike the Vanderbilts.
So the Rockefellers kept the generational wealth moving
forward.
Vanderbilts couple generations and it died off.
So just some different strategies that we use,
but we really key in on going back
to what you were talking about.
It's like, where do we get that financial
philosophy or relationship with money?
(25:49):
And it's different.
And that's why sometimes it's a easy conversation
and sometimes it's a more of an in
-depth conversation about where that entrepreneur, how they
feel about money.
So that to me is fun.
And that's why that's one of the main
reasons why I love being a part of
Wealth Factory because I was actually invited to
become one of the wealth architects.
And it's one of the individuals that was
(26:11):
like, there's no way you'd consider this.
And I'm like, no, there's no way.
But once I got to know the team
and the process and the strategy, I was
like, man, I wish I had this 25
years ago.
I could have done, I could have avoided
so many mistakes and accelerated my process.
What are some of the ways that we
haven't talked about there?
What's some of your best advice I should
(26:32):
ask to achieve true wealth, to achieve whatever
our version of financial freedom is?
What's some of your best tips or best
tip that we haven't kind of covered in
regards to this?
Continual growth, making sure that you're in a
place to where you're doing things like watching
your podcast.
Make sure that you've got a team that
(26:55):
really helps support your financial goals and your
objectives.
Goals, your goals have to be crystal clear.
When I say, when I mean crystal clear,
I'm talking about this.
So we do our family retreats.
It's kind of one of the things that
we talk about.
We want you to employ as well, or
retreat if it's you, yourself, whatever that looks
(27:16):
like.
And I was using this example.
I was talking to my son and we
wanted to go to New York.
We actually went to New York this last
October.
And I said, this is what clarity is.
And this is what clarity is not.
So clarity is, here's the start of clarity.
I wanna go to New York.
Okay, so let's say, is New York a
(27:37):
big place?
Yes, well, then what we do is we
say, okay, well, maybe we wanna go to
Manhattan.
So Manhattan Island, okay, yeah, that's still a
really big place.
There's lots of places there.
And I was like, maybe you wanna go
to Central Park.
Central Park's still a really big place.
But what we do on the goals, we
help gain clarity.
And here's what clarity is.
I'm gonna meet you on Tuesday at 2
(27:57):
p.m. in Central Park, the Bethesda Fountain
on the East side.
That's clarity and understanding where you wanna go.
Now, as entrepreneurs, we know that there are
gonna be roadblocks.
There are gonna be, we're gonna get rerouted
at times like that.
But we want you to have clarity in
the life that you wanna create.
So going back to your question on things,
(28:19):
it's like, have clarity on your goals.
Have a team that helps to support you.
My favorite saying is do one thing every
day that scares you by Eleanor Roosevelt, meaning
that you're doing one thing every day to
grow, that puts you maybe out of your
comfort zone.
And I think we're used to that as
entrepreneurs anyway.
(28:39):
So a combination of those things and just
make sure that you've got a process and
a team that helps you to get there.
So those would be kind of like my
thoughts.
Eric, we've just had time to kind of
scratch the surface of your knowledge and the
things that you could help us learn when
it comes to achieving true financial freedom and
achieving wealth, both for our business and for
us personally as well.
(28:59):
Where can everybody go that this is eye
-opening?
They're like, look, I want to learn more.
You are the one that's going to put
me on the path to where I wanna
be.
Where can everybody go to be able to
get more information than what we've been able
to dive into today?
So first off, I think that that's valuable.
But one of the things that we would
like to do at Wealthfactory is we'd like
(29:20):
to provide a gift to you to get
to know a little bit more about Wealthfactory
and a little bit more about the process.
We have a program that's called Capitalize.
We charge $2,500 for it.
And we'd like to, in honor of being
able to be here on this podcast and
just have our discussion with you and in
honor of you spending time to be here,
(29:41):
we would like to gift that to you,
okay?
So if you wouldn't mind grabbing a pen
and paper, if you text the word WEALTH,
W-E-A-L-T-H, WEALTH, to
801-758-8888.
(Transcribed by TurboScribe.ai. Go Unlimited to remove this message.) Welcome to the Business Credit and Financing Show.
Each week, we talk about the growth strategies
that matter most to entrepreneurs.
Listen in as we discuss the secrets to
getting credit and money to start and grow
your business.
And enjoy as we talk with seasoned business
owners, coaches, and industry leaders on a variety
(00:22):
of topics from advertising and marketing to the
nuts and bolts of running a highly successful
business.
And now, to introduce the host of our
show, financial expert and award-winning author, Ty
Crandall.
Hello, and thanks for joining us today.
I'm super excited you could be here because
today we're talking about building entrepreneurial wealth.
I mean, look, it's one of the most
(00:42):
important things that you need to know because
you're not just running a business to run
a business, right?
You're ultimately doing this to really establish wealth,
not just for your business, but for you
personally.
And we've got to give you the shortcuts
to be able to get there, and that's
exactly what we're gonna do today.
So with us is Eric Lloyd.
Now, Eric is actually a seasoned entrepreneur and
trainer with a diverse background in various different
(01:04):
industries.
So he actually had got his beginning in
his entrepreneurial journey at the age of 16,
and Eric made significant strides in commercial real
estate by the age of 21.
His ventures have spanned landscaping, commercial cleaning, and
real estate-based firms, showcasing his ability to
create effective systems that drive business performance.
Now, in addition to his professional pursuits, he
(01:24):
is an experienced trainer with a demonstrated history
in the financial services industry.
He possesses skills in coaching, sales, entrepreneurship, and
public speaking, reflecting his commitment to personal and
professional development.
Now, beyond his career, Eric is also a
marathon runner, a football coach, a skiing enthusiast,
and enjoys quality time with his horses.
(01:44):
He's also a dedicated father to four children,
balancing his professional achievements with a rich personal
life.
Eric, what's up, man?
Thanks for joining us today.
Hey, my pleasure.
I want to meet that guy.
He seems like he's kind of busy.
He seems pretty cool, right?
Like horses, it's all my favorite stuff in
one package.
Like we're going to be best friends, I
feel this.
Awesome, awesome.
No, my pleasure to be here.
(02:05):
So thanks for having me on, Ty.
Appreciate being here.
I appreciate you coming on.
Let me talk a little bit about executive
coaching to kind of get us started today,
because I think a lot of people, the
best of the best, have really strong coaches
that got them there, right?
And anybody that reads about the founders of
Google or Facebook or anything, they see that
they had them.
But I think small business owners, a lot
of us entrepreneurs are trying to go down
(02:27):
this path on our own, and we're not
really relying or using executive coaching.
And I think it's because we just don't
understand it very well.
So that being said, like, give me some
feedback.
How is it that an entrepreneur can leverage
coaching, executive coaching, to basically get closer to
building entrepreneurial wealth?
You know, Ty, I think you hit the
(02:47):
nail on the head, because most entrepreneurs, we're
very driven.
We're very autonomous.
We feel like we have to know it
all.
And the hard part is, is where do
we go to really get the information to
help us grow?
Well, we can go to places like your
podcast and follow information that way.
But when we look at things, we really
wanna say, okay, when we look at coaching
(03:07):
and what coaching is about, the idea is
really to look and see and identify where
you currently are, and then where you ultimately
wanna go.
And so it's like you're identifying your own
GPS or roadmap.
So it's like, okay, well, hey, I'm in
Miami and I wanna go to Tampa, and
I'm gonna drive, okay?
It's like, so you gotta have a GPS
(03:28):
to get there.
And so oftentimes what an executive coach does
is hones in on the skills that you
are tremendously good at and helps you to
leverage those.
We also help you identify maybe the skill
sets that you need some team members that
can help you to grow in those areas,
so you can maximize your time.
The cool thing is, is we want to
(03:49):
help you design the ultimate or architect the
life that you want.
And in and through that process, we use
key measurables like, okay, what is your revenue
doing?
How is this marketing campaign performing?
What's your ultimate exit strategy?
How much time do you wanna have in
and move forward?
And through a series of things like accountability
(04:11):
and a professional network and being able to
have those key players to help you to
win, that gives a little bit of a
30,000 foot view as far as what
the coaching process is like for an entrepreneur.
Wealth Factory, you really focus on helping entrepreneurs
build wealth.
And so what are some of the most
common financial mistakes that you're seeing that entrepreneurs
(04:33):
typically make?
Ooh, one of the most common mistakes that
are made is not having clarity on what
you're wanting to accomplish.
And not having clarity, it's like, okay, well,
I wanna grow my business by 20%
this year, or no, I wanna open up
10 different other locations.
I wanna franchise, I wanna expand quickly.
(04:56):
You know, it's like have clarity on what
you want and then have a system that's
based around you because we're all definitely unique
and have our own investor DNA.
But I think it's understanding where you are
today.
And one of the exercises that we go
through and most entrepreneurs, it's like, we're all
about the drive, drive, drive, drive, drive.
(05:17):
And oftentimes it's very important for us to
say, okay, where exactly are you right now
with everything from your estate plan?
Where are you right now with your finances,
your P&L?
Where are you right now with your debt?
Where are you right now with everything?
And we use that as a measuring stick
(05:38):
to say, okay, this is where you are.
And this is, you know, where do you
wanna go?
And so I think to answer that question
is one of the challenges is just understanding,
having clarity on where you are right now
and then where that entrepreneur ultimately wants to
go.
So I would say clarity would be the
biggest challenge, if you will.
(05:59):
Why do you think entrepreneurs struggle for this?
Because, you know, in the last two points,
it's really about knowing where you're going.
And I'll be honest with you, man.
I think in life, most people are lost.
Like I see this, it's kind of astonishing.
Most people are just going through life and
they don't even know where they're trying to
get to, what their goal is.
I'm a sailor, I'm a pilot.
So like to not know, like to start
off and not know where you're going could
(06:19):
be like disastrous in my world.
So like, why do we fail as entrepreneurs
to figure this out?
Why are so many people out there running
businesses and it seems like they get caught
in the muck of just getting things done
every day and they lose sight of the
direction of where they're actually trying to take
the organization?
Well, the awesome thing about what you just
mentioned is our mission here at Wealthfactory is
(06:41):
to help a million entrepreneurs attain financial peace.
And I think what happens is as entrepreneurs,
we get running so fast that sometimes we
don't enjoy the present and we don't have
the clarity that we wanna have in creating
that abundant life.
And so the idea behind that is, is
(07:01):
like you can be moving forward very quickly,
but also if you have the peace of
mind knowing that you're taken care of and
you've got things set up, or maybe you
decided you're gonna do things like cashflow banking
to where you're overfunding whole life insurance policies
and you're using that as a way to
fund businesses or you're using that as a
(07:23):
way to do different things.
So there's many different strategies that we key
in on to be able to help out.
So, but really at the end of the
day, it's really creating that financial peace because
it's like, as entrepreneurs, we're used to sprinting
and it's like sprint, sprint, sprint, sprint, sprint,
sprint.
But it's like, we gotta also enjoy the
process and create that abundant life.
(07:45):
Yeah, and I love the idea of financial
peace because I think that we all have
that.
It's interesting because when, sometimes I'll do a
podcast interview and somebody will ask me about
what I think about what we've done so
far.
And that really trips me up because my
mind is in the future.
Like I live in the future.
Like it's almost impossible to come to a
present moment.
And then it is impossible to go backwards,
(08:05):
like to even think about where I am
and what I've done.
And I don't think I'm alone in that.
I think a lot of us entrepreneurs struggle
with trying to be in the moment because
we are so forward-facing looking at what's
ahead.
So how do you get us grounded?
Like what do you do at Wealthfactory to
get people grounded in the present?
Ooh, one of the things that we do
(08:26):
is we have a professional network and that
professional network is designed not only with your,
you know, we have executive coaches, but we
call them wealth architects because we help you
design the life that you want to live
and create.
And so in that process, so let's say
one of the things that we do to
help you become present is, let's say we're
(08:48):
driving very, we're moving forward and maybe we
don't have a specific tax strategy to optimize
the way our business is moving.
Maybe we're not taking advantage of things like
our R&D credits, or maybe we're looking
at buying a commercial building for our business
and we need to look at cost segregation
opportunities.
(09:09):
And maybe we just get our taxes filed
to get them filed, but we don't have
a strategy.
So one of the things that we do
is, we do this thing called cashflow optimization.
We look at your current situation with a
unique set of eyes and say, okay, well,
have you considered this?
Well, this expense may be moving this around
over this way, you can optimize it.
(09:31):
And some of the greatest calls that I
have or the greatest connections, and I meet
with many of our clients face-to-face
and as I'm traveling the country, it's like,
hey, implementing this strategy ended up saving me
$150,000 on my taxes this last year.
Or now moving forward, I know how to
move and make this happen.
And so it's just a matter of looking
(09:52):
at those things.
And I would say it's unique to the
individual because we go through a process and
we use the team of advisors, but where
we can really make a difference is where
that individual entrepreneur may be having a challenge
or a struggle.
And that's where we can really help them
architect the financial future that they want.
And I love that because I think that
(10:14):
in a world where things are becoming more
automated and more AI based, I think that
you are the future, right?
It's this one-on-one deep relationship that
you can build to be able to lift
people up and help them through the difficult
process of entrepreneurship.
So I absolutely love it.
What are some of the other methods you're
using to help your clients and entrepreneurs accomplish
(10:34):
and gain financial peace?
Well, and one of the cool things that
we do, I'll just, this is an example
from this last week, and you mentioned AI
and I kind of, I smile a little
bit.
Yes, you do have one-on-one, but
what we do is we bring in different
professionals.
We have these weekly webinars and we have
these different interactions.
And one of our more recent one was
(10:55):
on the use of AI in your business.
And I was talking with this business owner,
he owns a financial firm, and he shifted
into using AI for his scheduling.
And he did that like two months ago
and across his team of 10 different employees
that he has, he's increased his bookings by
(11:18):
a hundred percent and he's increased his close
rate by 60%.
And so he's massively seeing the difference.
So what we do is we look at
what the individual circumstances are, and we're like,
hey, check this out.
By learning these couple of steps, you can
really enhance your business and really add value
(11:41):
to your customers and really build the brand
that you're wanting to build.
And so that's where I say it's unique
to the individual.
And that's where it gets fun because it's
like, yeah.
And for one individual, it might be a
tax strategy where it's like, hey, now I
have clarity.
For another individual, it might be, this is
a better way or a better funnel for
us to be able to move forward.
(12:01):
And sometimes it's like they may need certain
things where like, hey, I really wanna grow,
but where do I go?
And I need money to expand my business.
And that's where we bring you and your
team in to be able to help that
individual accomplish those needs.
Yeah, I love that and appreciate that as
well.
So how do you go through this diagnosis
(12:22):
process?
Like there's so many things an entrepreneur I'm
sure has problems that they're trying to tackle.
How do you triage that and figure out
the things that will have the greatest impact
to kind of address first?
Ooh, we have a very cool onboarding process
that identifies the most important things for the
individual that we're working with, the entrepreneur.
(12:43):
And then through that process, it brings forward
certain things.
So we have what we call a financial
scorecard.
We have different things that's highly interactive that
allows you to be able to look at
things.
And then based on the strategies that you're
wanting to implement, we do key introductions.
We're like, okay, let's look at taking action
(13:04):
here.
But before you take this action, let's talk
to one of our professional network tax advisors
and make sure that it fits for what
it is that you wanna do in moving
forward.
And so what happens is not only do
we have the practical discussion about it, but
we have a professional that helps to go
ahead and implement it.
I love your model so much because I
(13:25):
learned a long time ago in the beginning
stages of my entrepreneur journey that you do
what you do best and you outsource the
rest.
And it's not even just outsourcing.
It's just this idea, right?
That like everybody wants to do everything.
And then I really love this idea that
like you be really good at what you
do and then you find partners that are
really good and then have them help your
(13:47):
clients in those areas.
Why don't those entrepreneurs get this?
It seems like everybody tries to take it
all on and then they lose sight of
what their USP is, what they're really the
best at.
And I will say this in my earlier
years, Ty, I, you know, in driving, I
felt like I had to be the person
as an entrepreneur that knew everything.
(14:09):
And I clearly found out that I didn't
know everything.
And I clearly found out that having a
team can really elevate your game and having
the right players in the right positions on
the bus can help you really to win
and accomplish your goals.
Because then you have synergy and you've got
connections.
Then you can really, like you said, focus
(14:30):
in on what you do best and really
enhance that part of your business or your
entrepreneur life, whatever that looks like for the
individual.
What are you doing to help your clients
scale but still be able to maintain financial
stability?
Because what I found is that everybody wants
to scale, but the minute they start scaling
and growing, their margins shrink, sometimes to a
(14:52):
point where they start losing money.
And then it just becomes this stressful venture
where they're overwhelmed and then making less money
than they would have if they just would
have stayed at a level.
And so many people get to that million
and they try to climb to five or
10 and that just, it just falls apart.
So like, what do you do to help
your clients not fall victim to that?
I had a call earlier this week.
(15:14):
Well, I work with a, it's a couple.
They own a couple of dentists' offices, practices
and things like that.
And their goal is, like, she's the driver
and she wants to go ahead and add,
she wants to have 20 new locations in
the next five years.
Okay?
And he wants to grow incrementally at 10%,
(15:35):
okay, per year.
And so they have a little bit of
a, like, he wants to be safe and
she wants to be aggressive.
And the cool thing is, is you want
to look at it.
And in discussions, it's just identifying, well, if
you have a one or two businesses that
is fundamentally sound and you have.
And now a quick break to hear from
(15:57):
our sponsor.
Hey, it's Ty Crandall with Credit Suite.
Many of our subscribers want to get the
most money to grow their business at the
best terms.
Whether you're looking for startup capital, low interest
credit lines and loans, or business credit, we
can definitely help you.
So give us a call at 877-600
-2487, or schedule your free consultation at creditsuite
.com forward slash consult to see how much
(16:18):
money you can get approved for today.
A system built around that, that you can
expand on.
Then you want to have key relationships or
maybe key partnerships that can help you out.
But making sure that you're paying attention to
the fundamentals.
Because once you get locked in on things
like your taxes, your cashflow, your income and
your expenses, and then you're all about doing
(16:39):
the repeating or replicating that, you can grow.
It's great to be aggressive on it.
That's why we key so much in on
the fundamentals of saying, hey, this is where
you are.
We want to make sure we have the
fundamentals taken care of.
And oftentimes as part of that, we go
through an exercise.
We call it cashflow optimization, where it's like,
I like to call it find the money.
(17:00):
And I like to go through an entrepreneur's
financial scorecard and say, okay, well, where are
we going to find money?
And not that we're so focused on reducing
expenses, but far too often as entrepreneurs, we
rarely look back.
And just taking it in and maybe every
six months, looking back and saying, how can
I optimize what's taking place now?
(17:21):
And for example, I was having a conversation
with a wealth architecture member named Lisa.
And Lisa had just inherited five properties from
a family member.
And that family member had not increased the
rents in 20 years.
And you can imagine that each one of
the properties, these are all California properties, by
the way, each one of the properties was
(17:43):
underperforming by $2,000 a month, okay?
So it's just a matter of looking in
and seeing what's the optimization for that individual
that's going through the process, whether it's optimizing
the real estate portfolio they have or optimizing
their business that they have, or what is
(18:03):
it that they want to grow and maybe
their strategic partnerships that they can connect with.
And we also have a community, okay?
And the community at WealthFactory is one where
you can connect with other business owners and
like-minded individuals to synergize and just help
and be a support to each other.
One of the things that we really key
(18:23):
in on is we start every one of
our meetings and we talk about the wins.
We talk about each one of our wealth
architects goes around and shares three or four
wins from the previous week on how our
wealth architecture members are doing and how they're
implementing the strategies.
And so it's, yeah, we're forward-focused as
(18:44):
well and in moving forward.
You talked about real estate and I know
this is something you do personally as well
and have a vast experience of doing it.
What do you do to help identify and
capitalize on passive income opportunities?
Like what do you do to help your
clients actually identify and then actually capitalize on
passive income opportunities for them individually or for
(19:05):
their business?
So some of the things that we do
is we have a webinar series but we
also have a real estate course, okay?
And that real estate course is whether you're
a novice or you're a professional already.
So whether you have hundreds or thousands of
rental units and you wanna go to the
next level or you just wanna go ahead
and look at your first property.
The idea is look at what that investor
(19:27):
is looking for.
Are they looking for like consistent long-term
revenue?
I'm gonna buy a property at a certain
cap rate.
I want multifamily, I want my depreciation.
Like there's that investor.
You might have an investor that says, I
wanna be a little bit more aggressive.
I wanna get into short-term rentals and
(19:48):
maybe they do short-term rentals where maybe
the idea is to get a higher ROI
on that.
As long as you're taking care of your
occupancy and as long as you're doing things
along those lines, you may have investors that
maybe are hands-off and they're like, hey,
I'm into syndications where you're investing more in
someone else managing and doing those kinds of
things.
And so I think it just depends on
(20:10):
that investor's DNA, if you will, as far
as what they're interested in.
But the dynamics at the end of the
day is we look at their portfolio and
say, okay, are you maximizing the rents?
Are you maximizing your financing?
Which means you have the best rate and
term possible.
Are you in a place to be to
where you can?
(20:30):
And what we do is we tie in
the strategy based on what that individual's goals
are.
For example, working with Ashley in San Diego
and Ashley, she came to me as her
wealth architect and she said, hey, I want
to increase my net cashflow by $20,000
a month.
And so what we did is we looked
(20:51):
at, I looked at her current holdings and
her current, one of her holdings was a
Triplex in San Diego and she was negatively
cash flowing on that property $2,500 a
month.
So she was feeding it out of pocket.
But I just asked and I'm like, let's
look at the equity position.
Well, you have $750,000 in equity that
(21:12):
you're paying $2,500 a month to have.
So what if we repurpose that and do
a strategy like the 1031 exchange that allows
you to go buy other investments and increase
your cashflow?
So that's just one example.
So it depends on where that individual is
and it can be anything from, hey, I'm
considering real estate to, hey, I'm very advanced
and I want to use these advanced strategies.
(21:33):
So you just hit on a point that
I think is interesting.
How important is the personal financial scenario to
an entrepreneur successfully running a business and achieving
wealth?
Because it really seems like you're helping them
in both areas address these personal barriers they're
dealing with as well as business barriers.
So you must believe that those two combine
(21:54):
to be able to really accomplish true wealth.
Oh, yes.
And in combining the two, but we also
even get deeper and we ask questions about
what's your philosophy about money?
What's your relationship like with money?
And where does that come from?
And so we actually go through this thing
we call foundations.
(22:14):
And you'll find it's very enlightening for the
individual that we're working with.
It's very enlightening for the wealth architect as
well, because that brings forward the key targets,
if you will, to focus in on to
make adjustments that really kind of open the
floodgates.
And it's like, wow, I didn't consider this
(22:36):
ever, but now I'm able to move forward
and make things happen.
I will say this.
Normally when we have individuals start to engage
in working with Wealthfactory, we ask for a
year agreement, okay?
And that year agreement, what we find is
that the entrepreneurs that work with us, they
stay with us for years and years and
(22:58):
years, because they see the value in being
able to have that wealth architect or coach
that's continually helping them in moving forward.
Because it's like we evolve, right?
And it's like, I don't think any one
of us has ever achieved the level of
success.
And we're gonna say, oh, I'm there, I'm
done.
I think any entrepreneur knows that that's not
a reality where it's like, hey, I'm not
(23:20):
done growing.
I'm not done taking action.
I'm not done needing a team to be
able to help me move forward.
I'm interested, where do you find that a
lot of people get their relationship with money?
Because like me, I'm more of a spender
than a saver.
Like I like cool stuff.
My parents, 100% savers, like spend nothing,
say even in retirement, like when they have
(23:40):
a ton of money.
So like, I don't think I get that
from my parents, but like, what do you
find?
I mean, just to see like, where is
these relationships with money?
Where does that stem from when you're drilling
this down with your client?
Ooh, and it could be just like you
said, because your experience is the opposite.
So you said your parents were savers and
that you're great on spending.
I'm great at spending.
And I hope you don't mind, like we
(24:02):
were talking before this, you're like, yeah, man,
you gotta come hang out and you gotta,
I'll take you up on my plane and
we're gonna go do this.
And it's like, you're living that abundant lifestyle,
right?
But I think we've also experienced the opposite
where we're like, ooh, I really can't make
this move as an entrepreneur because it's really
cost-conscious and it's really holding me back
and maybe we get too much in our
minds.
(24:23):
And that can come from how we were
raised.
It can come from that.
It can come from maybe life experiences that
we've gone through, maybe a life switch.
It's like life happens to all of us.
And maybe that's had an impact on how
we view money and what our relationship is.
And so, but the idea is at the
end of the day, what we wanna help
(24:44):
you create is the, and define is the
abundant life and the abundant lifestyle that you
want.
Because I think freedom is something that is
uniquely intimate and different for us all.
For me, it's like, I want to, like
freedom for me is I can do whatever
I want and my decisions are not based
on not having money or having money.
It's like my decisions are based on my
(25:06):
values.
My decisions are based on the legacy that
I want to leave.
And many of us, we wanna leave a
legacy, but we don't even know how to
leave a legacy.
And so that's also part of what we
do in keying in on that foundations pieces.
Okay, what legacy are you wanting to create?
And how can you influence generations moving forward?
(25:26):
Much like the Rockefellers and unlike the Vanderbilts.
So the Rockefellers kept the generational wealth moving
forward.
Vanderbilts couple generations and it died off.
So just some different strategies that we use,
but we really key in on going back
to what you were talking about.
It's like, where do we get that financial
philosophy or relationship with money?
(25:49):
And it's different.
And that's why sometimes it's a easy conversation
and sometimes it's a more of an in
-depth conversation about where that entrepreneur, how they
feel about money.
So that to me is fun.
And that's why that's one of the main
reasons why I love being a part of
Wealth Factory because I was actually invited to
become one of the wealth architects.
And it's one of the individuals that was
(26:11):
like, there's no way you'd consider this.
And I'm like, no, there's no way.
But once I got to know the team
and the process and the strategy, I was
like, man, I wish I had this 25
years ago.
I could have done, I could have avoided
so many mistakes and accelerated my process.
What are some of the ways that we
haven't talked about there?
What's some of your best advice I should
(26:32):
ask to achieve true wealth, to achieve whatever
our version of financial freedom is?
What's some of your best tips or best
tip that we haven't kind of covered in
regards to this?
Continual growth, making sure that you're in a
place to where you're doing things like watching
your podcast.
Make sure that you've got a team that
(26:55):
really helps support your financial goals and your
objectives.
Goals, your goals have to be crystal clear.
When I say, when I mean crystal clear,
I'm talking about this.
So we do our family retreats.
It's kind of one of the things that
we talk about.
We want you to employ as well, or
retreat if it's you, yourself, whatever that looks
(27:16):
like.
And I was using this example.
I was talking to my son and we
wanted to go to New York.
We actually went to New York this last
October.
And I said, this is what clarity is.
And this is what clarity is not.
So clarity is, here's the start of clarity.
I wanna go to New York.
Okay, so let's say, is New York a
(27:37):
big place?
Yes, well, then what we do is we
say, okay, well, maybe we wanna go to
Manhattan.
So Manhattan Island, okay, yeah, that's still a
really big place.
There's lots of places there.
And I was like, maybe you wanna go
to Central Park.
Central Park's still a really big place.
But what we do on the goals, we
help gain clarity.
And here's what clarity is.
I'm gonna meet you on Tuesday at 2
(27:57):
p.m. in Central Park, the Bethesda Fountain
on the East side.
That's clarity and understanding where you wanna go.
Now, as entrepreneurs, we know that there are
gonna be roadblocks.
There are gonna be, we're gonna get rerouted
at times like that.
But we want you to have clarity in
the life that you wanna create.
So going back to your question on things,
(28:19):
it's like, have clarity on your goals.
Have a team that helps to support you.
My favorite saying is do one thing every
day that scares you by Eleanor Roosevelt, meaning
that you're doing one thing every day to
grow, that puts you maybe out of your
comfort zone.
And I think we're used to that as
entrepreneurs anyway.
(28:39):
So a combination of those things and just
make sure that you've got a process and
a team that helps you to get there.
So those would be kind of like my
thoughts.
Eric, we've just had time to kind of
scratch the surface of your knowledge and the
things that you could help us learn when
it comes to achieving true financial freedom and
achieving wealth, both for our business and for
us personally as well.
(28:59):
Where can everybody go that this is eye
-opening?
They're like, look, I want to learn more.
You are the one that's going to put
me on the path to where I wanna
be.
Where can everybody go to be able to
get more information than what we've been able
to dive into today?
So first off, I think that that's valuable.
But one of the things that we would
like to do at Wealthfactory is we'd like
(29:20):
to provide a gift to you to get
to know a little bit more about Wealthfactory
and a little bit more about the process.
We have a program that's called Capitalize.
We charge $2,500 for it.
And we'd like to, in honor of being
able to be here on this podcast and
just have our discussion with you and in
honor of you spending time to be here,
(29:41):
we would like to gift that to you,
okay?
So if you wouldn't mind grabbing a pen
and paper, if you text the word WEALTH,
W-E-A-L-T-H, WEALTH, to
801-758-8888.
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