September 11, 2025 • 26 mins
We all want to leave our children an inheritance, but the truth is—money alone isn’t enough. Before you pass on wealth, there’s something far more valuable you need to give them: the mindset, skills, and wisdom to steward it well. In this episode, we’ll talk about what you need to give them first, why it matters more than money, and how to intentionally prepare your kids for lasting impact and true legacy.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
You already went through the experience.
You already went through thechallenge.
You already overcame that.
Overcame it Like share thestory, share the story, share
those stories with your kids.
You would think they don'tmatter.
They do matter.
Someday your kid is gonna besomewhere and gonna have a high
stake deal or a high stakedecision they need to make.
And they're gonna say Iremember when mommy told me
about X, y, z or daddy told meabout XYZ, and in that moment I
(00:22):
knew what to do.
Speaker 2 (00:24):
Hi docs, Welcome to the EntreMD podcast, where it's
all about helping amazingphysicians just like you embrace
entrepreneurship so you canhave the freedom to live life
and practice medicine on yourterms.
I'm your host, Dr Imna.
Speaker 1 (00:42):
I think that you know , giving our kids for those of
us who are parents, our kidswealth is one of the most
powerful things that we can do.
Right, we set them up tosucceed at a different level.
We set them up where maybethere are certain challenges we
had that they didn't have tohave, you know.
Hopefully that becomes astepping stone and they can just
take that to a whole new level.
(01:02):
But I also believe that leavingyour kids well can be one of
the most damaging things you doto them At least let me speak
for myself one of the damagingthings I could do for my kids if
I don't give them somethingelse.
I'm a firm believer that youwant to give your kids wealth
and you want to give them thehow-to, the thing you did that
(01:25):
put you in a position to createthe wealth in the first place.
Right, so we create the wealthand we create the engine.
We install the wealth creationengine in them so they can
continue to reproduce the wealth.
Otherwise, I mean, it's notuncommon, right For someone to
inherit a whole lot and blow it.
It's not uncommon for people toinherit wealth and in two
generations, three generations,it's completely gone right and
(01:49):
us thinking, oh, I'm anexception to the rule.
Well, that's a little bit ofpride.
We have to ask ourselves, well,what do I need to do?
So my family is not a statistic, okay.
So for me, I have developedthese five things like by all
means give them money, by allmeans give them wealth.
But even more important for meis these five things that I give
them, and I see them as assets,I see them as quote, unquote
(02:13):
wealth.
It's not the actual dollars,but it's the thing that produces
wealth, right?
Okay, so what do I want to givethem?
What do I want to leave withthem?
Okay, so the first thing I'mleaving them is my victory
stories.
Right, is my victory stories?
And you're like wait what?
Yeah, it's my victory storiesBecause you see, the experience
(02:34):
I had as a kid, or experience Ihad growing up, or experience I
had as I started buildingbusinesses and all of that stuff
, my kids are completelyoblivious to that.
Right, if I don't share those,they'd be completely oblivious
and they would just think, likethis is the way life is, as
opposed to no life can be verydifferent.
And this is what you do to takeit to the next level, right,
(02:55):
and so if I shield them fromthose stories, I don't empower
them with the wisdom from myexperience, right?
So this is the wisdom I'mtransferring with them and
inside every story is themindset, is the method, is the
strategies, all of those thingsthat they can learn from, they
(03:16):
can glean from and they can useit in their world.
Now, I'm not expecting them tohave the experiences that I had.
The chances are they're not,but they can take it and apply
it with the level they findthemselves at and then take it
to the next level, right.
And so you know some of them.
It's not all finances, right.
Some of that is you know how Igot into medical school, which
was a very interesting storywe'll probably share on a
(03:38):
different day.
Talking about moving fromNigeria, like.
So I was born in California butI moved back to Nigeria when I
was six and I did come back toafter medical school, right.
So coming back through medicalschool after medical school, all
the challenges around there andwhat I did to overcome those
challenges and then get intoresidency and then complete my
(03:59):
residency.
I'm launching my first business,which is my private practice,
and the challenges I had, right,because they'll see me from a
place of strength, like mommy's,invincible and stuff like that.
But the challenges I had, thefears I used to have, how I
overcame them, how I took thatpractice, how we hit our first
hundred thousand, how we hit ourfirst million, how we became
(04:20):
team led, how I exited and allof those things, how I decided
you know, like I'm only going togive you know medicine after
being attending 10 years andafter that I'm retiring, and how
we worked through the processand, over a nine-year period,
was able to pull that off right,how we made it to the Inc 5000,
like all of those things.
Like sometimes we just thinkthey're stories.
(04:41):
No, these are so powerful, likeI haven't made the decision yet
, but I suspect I'm going togather my stories, I'm going to
have my husband gather hisstories and we're literally
going to create these legacypodcasts that they can listen to
and my grandkids can listen toall of those things, because
there's so much wisdom in that,there's so much they can learn
(05:02):
from that, there's so much theycan identify with and do their
own version and all of thosekind of things.
So you already went through theexperience, you already went
through the challenge, youalready overcame it.
Share the story.
Share those stories with yourkids.
You will think they don'tmatter.
They do matter.
Someday your kid is going to besomewhere and going to have a
high stake deal or a high stakedecision they need to make.
(05:25):
And they're going to say Iremember when mommy told me
about X Y Z or daddy told meabout X Y Z, and in that moment
I knew what to do.
Don't deprive them of yourvictory stories.
Right, you can literally takeinventory, like these are my
victory stories, right, you mayhave five, seven, 12, 24.
And you just tell them one at atime and tell them a lot.
Or you can have a hot seat andhave them ask you questions and
(05:45):
they'll pull those stories out.
But your stories are a gift.
They're as valuable as dollars,they're as valuable as an
investment fund.
They're so valuable, okay, sothat's number one.
Number one thing I'm givingthem.
The second thing I'm givingthem is my mindset.
Right Now, when I think about mymind, okay, I got into
(06:10):
entrepreneurship 15 years agoand before that I was into
personal development for a fewyears.
I actually have to go thinkabout how many years that was.
And so I have done a lot ofwork.
I've done a lot of work on mymind.
I have spent a lot of money onmy mind, I've read an
unbelievable number of books,I've listened to a crazy number
of podcasts, I've been in anumber of programs and all of
(06:32):
these things, and because ofthat, I've acquired superior
ways of thinking about money,superior ways about thinking
about business, superior waysabout thinking about building
relationships and the value ofsocial capital, superior ways of
thinking about so many things,and I could transfer them
dollars and not transfer them.
That way of thinking, which isjust, it makes no sense, because
(06:54):
the ROI on the way of thinkingis so much higher than the ROI
on the dollars, right?
And so you want to startthinking about these things like
what is my way?
What are these things that I'velearned that maybe are even
against cultural norms?
Right, there is this thing aboutit being, for instance, as
physicians, it's normal to havea loss of autonomy.
(07:15):
It's normal to be burned out.
It's normal to be working wayinto the night.
It's normal to.
You know, I don't subscribe toany of that, right, and I found
another way out.
Right, there are manyentrepreneurs who are like, oh,
my business is struggling andall of that stuff, but they
won't sell and they cannotrecognize that.
(07:36):
The problem is they won't sell,they won't build a referral
base, they won't ask people towork for them and stuff like
that.
There's so many people who arelike where would I find the time
to do all of these things?
I've learned the power ofdelegation, the power of
spending 80% of my time doing20% activities, the power of
automated, the power of buildingsystems so that the important
things are happening by quote,unquote, default.
(07:57):
I feel like it's myresponsibility.
I have such a great asset togive them, which is my way of
thinking.
Now they're going to take itand take it to a whole new level
, and someone may be saying, oh,isn't that brainwashing?
Everybody's being brainwashed.
Our minds, everybody, our mindsare impressionable, okay, and
(08:18):
we are going to reflect thepeople we spend the most time
with period end of story.
And so, because everybody'sbeing brainwashed, you want to
put the best information infront of them and that's what
I'm doing.
So yesterday it was so cool.
Yesterday I had a meeting, andit was the very first one.
We called it the Commonwealth,and I had my kids and I had
(08:44):
about eight of their cousins orso, or six of their cousins or
so, and I started this seriesteaching them about the power of
decisions, how to make properdecisions, how to recognize what
decisions have whatconsequences.
And I told them.
I said most adults have no ideawhat we're going to talk about.
(09:06):
I mean, they were from the ageof three to 15, right, so this
was super cool.
And they don't even know whatwe're going to talk about.
But you're going to learn itand so you're going to be so
smart.
And also and they loved it Likeone of them, she's nine, she
was like she's asking her mom.
She's like can Auntie Nneka dothis more than once a week?
Are we only going to do thisonce a week?
(09:27):
But it was so good, but whatwas I doing?
I was transferring.
It's intentional.
I was transferring a decisiontree Because for me, I'm like I
don't just make decisions.
Because I make decisions,there's an algorithm that runs
in my mind and you have analgorithm too, right, you may
(09:50):
just not recognize it, but weall have these algorithms that
are running.
And I was like what if I couldtake that algorithm, deconstruct
it and then teach it to them?
What, right?
Okay, so that's just an example, but you know, is just that
thing of transferring superiorways of thinking that you've
acquired to them, the superiorway of thinking that makes the
life you live now possible, thesuperior way of thinking that
makes the revenue you've beenable to create possible.
Now transfer it to them.
(10:10):
You might say my kids are young.
Oh my goodness, you have noidea what these people can, what
they can learn.
Just start, you'll learn how tocommunicate it.
Right.
I did catch stuff, okay.
Number three, third thing I'mtransferring is skills like
actual skills.
Okay, so back in the day, ifyour father was a carpenter, you
(10:32):
became a carpenter.
If your father was a farmer,you became a farmer.
And so there are these thingsof family skills.
Right Now it's a littledifferent.
You come and then you findyourself and then you go to
college, somewhere, whatever,whatever.
And for me I'm like uh-uh, I'mgoing to find the top, most
important skills that have mademe who I am, and you're going to
(10:54):
learn those.
Now you can choose to dowhatever you want.
Afterwards you can add newskills.
You can do whatever, but you'regoing to learn those.
Now you can choose to dowhatever you want.
Afterwards you can add newskills, you can do whatever, but
you're going to have the familyskills.
No, I didn't say the familybusiness, but you're going to
have the skills that have madeus who we are.
You're going to have them.
And so, for instance, you willsee that I've done this
experiment publicly with mydaughter, with Cheta.
She's 17.
Okay, she's 17.
(11:16):
And I thought about it.
I said, okay, if I couldtransfer business skills to her,
what do I want to transfer toher?
I want to transfer to her theskill of speaking.
I want to transfer to her theskill of selling.
I want to transfer to her theskill of networking, building
quality networks.
I said, if I give her thesethree, it doesn't matter where
(11:40):
she finds herself.
She will use these three torise to the top.
Okay, and so for me, what I didis I said, okay, I'm going to
have her go live once a week onFacebook.
Initially she went live in theFacebook group, in the Entremdi
Facebook group, and then, afterthat, she started going live on
my private page, on the EntremdiYouTube channel, my private
(12:03):
Facebook page.
You can actually go there andwatch some of her videos, and if
you do shout her out, she's a17-year-old, it'll make her
happy, and I have her practicespeaking.
And so then I taught her thespeaking framework and then she
would speak and come back.
We'd audit it, we'd improve,she'd go back again.
We audit, improve, go backagain.
And all of that.
Why am I doing that?
I want her to be great atspeaking.
(12:24):
Like, have that skill.
Now, that is a skill thatliterally creates millions of
dollars.
Like, why will I not give herthat skill?
That is almost more valuablethan any inheritance I'm going
to leave her.
If you think of wealth in thatway, right, okay.
And then this skill of speaking.
Most businesses that are undera million in revenue are under a
million in revenue becausesomebody doesn't want to sell.
(12:46):
That's it.
Not willing to sell, notwilling to sell in the right
volume, not willing to sell thisin the right way, and all of
those things.
Now, please don't misunderstandme.
It's not a judgment thing.
Yes, if you haven't hit amillion, you're working on it,
all that stuff, okay.
But everybody can agree that,oh, my goodness, most people
(13:06):
don't want to sell.
And if somebody can learn howto sell and become really good
at it before they find out thatpeople don't like it, that's a
good thing.
Right, and it's something I ranaway from.
I was just like I'm flat outnot doing that, I'm a
professional Professionals,don't do that.
Like I'm flat out not doingthat, I'm a professional
Professionals, don't do that,right.
And so I said, okay, you're incharge of the merch division.
I didn't put her in charge ofthe merch division because I
wanted her to be in charge ofthe merch division.
I put her in charge of themerch division because I wanted
(13:27):
her to know how to sell.
I want her to practice sellingevery week so she can do a
strong call to action everysingle week.
Right, and I'm going to keepupping the things that she will
sell.
But she's going to be a masterat selling.
And then, with networking, I setit up where she's interviewing
the doctors in the EntremetBusiness School.
(13:47):
Those are the people she'sinterviewing when she goes live.
So she has this opportunity tobuild her network.
Some of the photography, sheruns the mic, she does some of
the announcements and all ofthose things, and she has these
opportunities to buildrelationships with the doctors
in the on-training businessschool.
That's her doing her networking.
I do the same thing at church,I do the same thing when I take
her from my coaching programsand all of that.
(14:09):
I do that with even the babies.
I get them to where they'rebuilding networks with people
that I could not even have hadaccess to 10 years ago.
Do you see what I'm saying?
So I'm transferring skill.
These are family skills andyou're going to learn it.
So this is why, as anentrepreneur please hear me when
I say this every skill you needto learn to make your business
(14:31):
better, embrace it.
The evolution you need toexperience to make your business
better.
Embrace it.
Why?
Because now you have somethingthat you can then give to your
kids.
You can pass it on.
You can pass it on.
Your evolution is a gift toyour family.
Me, learning to speak, learningto sell, learning to lead
people, learning to build sevenfigure businesses, learning to
(14:51):
network, learning to you know,having an appreciation for
growth, having appreciation formentorship and coaching, and all
of that has put me in aposition where I can take those
things and transfer them to mykids and then they start off a
whole new level because they hadthat Okay.
The other thing, the fourththing, that I'm passing on to
(15:12):
them is the gift of adversity.
The gift of adversity, okay.
So if you're in a place whereyou had a challenging child.
I'm going to say challengingchildhood.
I'm just like things are betternow, right, Like the things we
needed to do then that peopledon't need to do now.
All of those things, the moresuccessful you become.
There's this tendency okay, ifyou're not on top of it.
(15:34):
There's this tendency to say,oh, I don't want my children to
go through what I went throughand you make life so easy for
them and they don't haveopportunities to fail and all of
these things.
If you put your child in thatposition, well, let me speak for
my child.
Okay, I don't want to judgeanybody's parenting.
I'm just here really to sharewhat I'm doing and it's a buffet
.
You can pick what you thinkwill work for your family.
But for me, if I do that, butfor me if I do that, I
(15:56):
understand that I'm setting mykids up to be failures, like
literally.
Why is that?
Because they're going to havefailed projects.
They're going to have so manythings that will not go
according to plan.
They're going to have so manychallenges in this life.
How do I know that?
Everybody has that.
They're not going to be thefirst four people in this
universe to have no challengesand not fail at anything, have
(16:22):
no challenges and not fail atanything.
And so if I can't train them onhow to handle adversity,
they're not going to be able tosurvive adversity.
There was a year my kids at thispoint were not swimming well or
anything like that.
I was like, oh my goodness, Ineed to put these kids in
competitive swimming.
And the only reason I wanted toput them in competitive
swimming because I wanted themto go and lose.
I want them to go for a gameand lose there and they're like
(16:44):
they're all crying and they'reall distraught and then we can
talk about well, this is how werespond to failure.
This is what we do.
This is how we process it.
This is how we bounce back.
This is not a class they canget in theory.
They're going to need to be inthe lab.
They're going to need thepractical stuff.
So you give them the gift ofadversity.
Right, that means they're onthe verge of making a mistake
(17:10):
and something and it's notsomething that's going to damage
their life or whatever.
Allow them make it.
Allow them fall on their facessometimes.
Allow them make it.
Allow them fall on their facessometimes, right, and then show
them how to get up.
I give them the gift ofadversity.
I give them the gift of that.
I put them in challengingsituations, I put them on stages
(17:31):
, I put them in leadershippositions so they can feel the
pain of it.
I'm not saying this as a I'm notsome sadist or whatever.
But if we can't equip our kidsagain, I'm not judging anybody's
parenting.
If I cannot equip my kids tobounce back from challenges, if
I don't like, I understand.
I didn't understand it when Iwas younger.
(17:52):
I understand that failure ispart of progress.
I understand that if you aregoing to learn to walk, you are
going to fall.
There's no way around that.
So I don't get thrown off somuch when I try to do something
that doesn't work.
But there are people who theytried to do something 10 years
ago and it didn't work andthey're still celebrating.
They're celebrating the 10thyear anniversary of something
(18:13):
that didn't work.
They didn't move forward, theydidn't do any of those things.
I don't want them to have.
I don't want them to have.
I don't want them to be that.
I want them to know this ispart of it.
I want them to have done thereps like, had so many failed
projects and practiced balancingback from it that they're good
now, like when stuff happens.
They're like it's part ofprogress, it's part of
(18:34):
succeeding.
The gift of adversity, the giftof adversity, the gift of
adversity Okay.
And then the fifth thing.
The fifth thing I'm giving mykids is and I've alluded to this
a little bit is the gift ofnetworks.
Okay, guys, your network isyour net worth.
Okay, your kid's net worth willbe their net worth.
(18:54):
Now, you've already built allthese relationships with people,
maybe people who are doingbusinesses much bigger than you,
people whose families you'veloved and you learned from them,
people who understand how tomultiply wealth, all these kinds
of things.
You can introduce your kids inthe mix, right.
(19:14):
And these become their networkstoo, right.
And so I introduce my kids toall kinds of people, I connect
them to all kinds of people, andI do it intentionally, and when
I do it, I train them on how todo that and how to maintain
those relationships and how tokeep the reciprocity bank full
(19:35):
and all of that stuff.
Why Do you know their people?
The only reason they'resuccessful is because of their
network.
The only reason that is howpowerful that one asset is right
.
And so I'm giving them that,okay, so what am I giving them?
My victory stories, my mindsets, my skills, the gift of
(20:01):
adversity and my networks.
Right, there are so many doors,for instance, for my daughter,
for my daughter Cheta.
There's so many doors thatright now can open for her with
one text message from her tosomebody in her network, because
she's building it right Now.
Imagine having those five thingsand depositing, installing
(20:25):
those five things in my kids,giving them the gift of those
five things and then giving themwealth.
They have the adversity tohandle, whatever comes with it.
They have the skill that theycan use to create more or to
multiply it.
They have the mindset thatwon't let them get thrown off by
that.
They have the stories, so theyhave this feeling of this is a
(20:49):
legacy, this is somethingentrusted to me, this is
somebody's whole journey, likethe fruit of someone's whole
journey that was transferred tome.
And then now it's myresponsibility, if you will, or
my opportunity, or my privilege,to take this to the next level.
It's not a pressure thing, it'san opportunity thing, it's a
(21:12):
gift, it's a privilege, butanyway, that's what I'm doing
with my kids, that's what I'mgiving to them, installing in
them, and someday there'll besome wealth transfer, but this
is what they get for now.
And in my mind, this is morevaluable because guess what, if
(21:34):
they didn't get any wealth, theycould create it.
They have the stories thatnormalize it and let them know
it's possible.
They have the mindset, theyhave the skills, they have the
net worth and they can handleadversity.
They can create it.
Even if they got nothing, theycould create it right.
So that's what I'm doing.
So for you, I want to invite you.
(21:54):
I talked about your evolution.
For you, I want to invite you.
I talked about your evolution.
I want to invite you to thensee that your evolution sets the
stage for you to have the bestassets to give your kids.
Okay, and you know, entremd,we're all about helping doctors
become the kinds ofentrepreneurs that can build
(22:14):
profitable businesses.
Have their time back, havetheir freedom back.
Six figures, seven figures,multiple seven figures, eight
figures, whatever number it isthat you want.
And if you're like now thatyou've put it this way, I
realize that when I work onmyself, I'm creating
generational wealth, becausethat's what you're doing.
That's what you're doing, infact, in the Ontario Business
(22:35):
School.
We have a name for the kids ofthe doctors in the Ontario
Business School.
They're called EBS Juniorbecause the things the parents
are learning is showing up intheir kids.
Their kids have launched bigbusinesses, they've launched
podcasts, they negotiate likebosses, they work in the
parents' business all kinds offun stuff happening.
And this is not anything formal, this is just based on the
(22:56):
parent's evolution.
Okay, and so if you're like man,I want to take my evolution a
little more seriously than I'vetaken it.
You know, book a call with myteam and they'll kind of walk
you through.
We have many ways of supportingdoctors and they'll kind of
walk you through what might bethe best next step for you.
And so, entremdcom, forwardslash call, that's EE-M-D,
entremdcom, forward slash calland my team will be really happy
(23:19):
to talk with you.
But I want to challenge you toprioritize your evolution and
your development.
I want you to start seeingthose things right, your stories
.
So you want to acquire morestories.
Right your stories, yourmindset, your skill, your
network and the gift ofadversity as assets.
(23:40):
Like the same way you'll see aproperty, like, oh, I'm going to
hand them this portfolio offive buildings.
The same way you see that isthe same way you see these
assets and you're like, I'mgoing to transfer these to my
kids.
Okay, I want you to prioritizethat.
Docs, listen, we're a new breedof docs.
We are doctors who are buildingbusinesses that are thriving,
(24:00):
building them in sustainableways.
So we have time freedom and wehave financial freedom and we're
the people who don't let all ofthis amazingness stop with us.
We're able to transfer it tothe next generation.
So I'm so honored that I get todo this with you.
Please share this episode withevery doctor in your world and
tell them oh, my goodness, Ifound the secret right.
(24:22):
Share it with them.
Let them listen to them.
Listen to it and let's do this.
And let's not just becomepeople who become phenomenal
entrepreneurs and all of thosethings, but let's become people
who do that and leave our familypowerful legacies.
Okay, all right, rooting forevery single one of you.
I'll see you on the nextepisode.
Go, book that call with my teamEntremdicom forward slash call.
(24:43):
I'll see you on the nextepisode of the Entremdi podcast.
You already went through the experience.
You already went through thechallenge.
You already overcame that.
Overcame it Like share thestory, share the story, share
those stories with your kids.
You would think they don'tmatter.
They do matter.
Someday your kid is gonna besomewhere and gonna have a high
stake deal or a high stakedecision they need to make.
And they're gonna say Iremember when mommy told me
about X, y, z or daddy told meabout XYZ, and in that moment I
(00:22):
knew what to do.
Speaker 2 (00:24):
Hi docs, Welcome to the EntreMD podcast, where it's
all about helping amazingphysicians just like you embrace
entrepreneurship so you canhave the freedom to live life
and practice medicine on yourterms.
I'm your host, Dr Imna.
Speaker 1 (00:42):
I think that you know , giving our kids for those of
us who are parents, our kidswealth is one of the most
powerful things that we can do.
Right, we set them up tosucceed at a different level.
We set them up where maybethere are certain challenges we
had that they didn't have tohave, you know.
Hopefully that becomes astepping stone and they can just
take that to a whole new level.
(01:02):
But I also believe that leavingyour kids well can be one of
the most damaging things you doto them At least let me speak
for myself one of the damagingthings I could do for my kids if
I don't give them somethingelse.
I'm a firm believer that youwant to give your kids wealth
and you want to give them thehow-to, the thing you did that
(01:25):
put you in a position to createthe wealth in the first place.
Right, so we create the wealthand we create the engine.
We install the wealth creationengine in them so they can
continue to reproduce the wealth.
Otherwise, I mean, it's notuncommon, right For someone to
inherit a whole lot and blow it.
It's not uncommon for people toinherit wealth and in two
generations, three generations,it's completely gone right and
(01:49):
us thinking, oh, I'm anexception to the rule.
Well, that's a little bit ofpride.
We have to ask ourselves, well,what do I need to do?
So my family is not a statistic, okay.
So for me, I have developedthese five things like by all
means give them money, by allmeans give them wealth.
But even more important for meis these five things that I give
them, and I see them as assets,I see them as quote, unquote
(02:13):
wealth.
It's not the actual dollars,but it's the thing that produces
wealth, right?
Okay, so what do I want to givethem?
What do I want to leave withthem?
Okay, so the first thing I'mleaving them is my victory
stories.
Right, is my victory stories?
And you're like wait what?
Yeah, it's my victory storiesBecause you see, the experience
(02:34):
I had as a kid, or experience Ihad growing up, or experience I
had as I started buildingbusinesses and all of that stuff
, my kids are completelyoblivious to that.
Right, if I don't share those,they'd be completely oblivious
and they would just think, likethis is the way life is, as
opposed to no life can be verydifferent.
And this is what you do to takeit to the next level, right,
(02:55):
and so if I shield them fromthose stories, I don't empower
them with the wisdom from myexperience, right?
So this is the wisdom I'mtransferring with them and
inside every story is themindset, is the method, is the
strategies, all of those thingsthat they can learn from, they
(03:16):
can glean from and they can useit in their world.
Now, I'm not expecting them tohave the experiences that I had.
The chances are they're not,but they can take it and apply
it with the level they findthemselves at and then take it
to the next level, right.
And so you know some of them.
It's not all finances, right.
Some of that is you know how Igot into medical school, which
was a very interesting storywe'll probably share on a
(03:38):
different day.
Talking about moving fromNigeria, like.
So I was born in California butI moved back to Nigeria when I
was six and I did come back toafter medical school, right.
So coming back through medicalschool after medical school, all
the challenges around there andwhat I did to overcome those
challenges and then get intoresidency and then complete my
(03:59):
residency.
I'm launching my first business,which is my private practice,
and the challenges I had, right,because they'll see me from a
place of strength, like mommy's,invincible and stuff like that.
But the challenges I had, thefears I used to have, how I
overcame them, how I took thatpractice, how we hit our first
hundred thousand, how we hit ourfirst million, how we became
(04:20):
team led, how I exited and allof those things, how I decided
you know, like I'm only going togive you know medicine after
being attending 10 years andafter that I'm retiring, and how
we worked through the processand, over a nine-year period,
was able to pull that off right,how we made it to the Inc 5000,
like all of those things.
Like sometimes we just thinkthey're stories.
(04:41):
No, these are so powerful, likeI haven't made the decision yet
, but I suspect I'm going togather my stories, I'm going to
have my husband gather hisstories and we're literally
going to create these legacypodcasts that they can listen to
and my grandkids can listen toall of those things, because
there's so much wisdom in that,there's so much they can learn
(05:02):
from that, there's so much theycan identify with and do their
own version and all of thosekind of things.
So you already went through theexperience, you already went
through the challenge, youalready overcame it.
Share the story.
Share those stories with yourkids.
You will think they don'tmatter.
They do matter.
Someday your kid is going to besomewhere and going to have a
high stake deal or a high stakedecision they need to make.
(05:25):
And they're going to say Iremember when mommy told me
about X Y Z or daddy told meabout X Y Z, and in that moment
I knew what to do.
Don't deprive them of yourvictory stories.
Right, you can literally takeinventory, like these are my
victory stories, right, you mayhave five, seven, 12, 24.
And you just tell them one at atime and tell them a lot.
Or you can have a hot seat andhave them ask you questions and
(05:45):
they'll pull those stories out.
But your stories are a gift.
They're as valuable as dollars,they're as valuable as an
investment fund.
They're so valuable, okay, sothat's number one.
Number one thing I'm givingthem.
The second thing I'm givingthem is my mindset.
Right Now, when I think about mymind, okay, I got into
(06:10):
entrepreneurship 15 years agoand before that I was into
personal development for a fewyears.
I actually have to go thinkabout how many years that was.
And so I have done a lot ofwork.
I've done a lot of work on mymind.
I have spent a lot of money onmy mind, I've read an
unbelievable number of books,I've listened to a crazy number
of podcasts, I've been in anumber of programs and all of
(06:32):
these things, and because ofthat, I've acquired superior
ways of thinking about money,superior ways about thinking
about business, superior waysabout thinking about building
relationships and the value ofsocial capital, superior ways of
thinking about so many things,and I could transfer them
dollars and not transfer them.
That way of thinking, which isjust, it makes no sense, because
(06:54):
the ROI on the way of thinkingis so much higher than the ROI
on the dollars, right?
And so you want to startthinking about these things like
what is my way?
What are these things that I'velearned that maybe are even
against cultural norms?
Right, there is this thing aboutit being, for instance, as
physicians, it's normal to havea loss of autonomy.
(07:15):
It's normal to be burned out.
It's normal to be working wayinto the night.
It's normal to.
You know, I don't subscribe toany of that, right, and I found
another way out.
Right, there are manyentrepreneurs who are like, oh,
my business is struggling andall of that stuff, but they
won't sell and they cannotrecognize that.
(07:36):
The problem is they won't sell,they won't build a referral
base, they won't ask people towork for them and stuff like
that.
There's so many people who arelike where would I find the time
to do all of these things?
I've learned the power ofdelegation, the power of
spending 80% of my time doing20% activities, the power of
automated, the power of buildingsystems so that the important
things are happening by quote,unquote, default.
(07:57):
I feel like it's myresponsibility.
I have such a great asset togive them, which is my way of
thinking.
Now they're going to take itand take it to a whole new level
, and someone may be saying, oh,isn't that brainwashing?
Everybody's being brainwashed.
Our minds, everybody, our mindsare impressionable, okay, and
(08:18):
we are going to reflect thepeople we spend the most time
with period end of story.
And so, because everybody'sbeing brainwashed, you want to
put the best information infront of them and that's what
I'm doing.
So yesterday it was so cool.
Yesterday I had a meeting, andit was the very first one.
We called it the Commonwealth,and I had my kids and I had
(08:44):
about eight of their cousins orso, or six of their cousins or
so, and I started this seriesteaching them about the power of
decisions, how to make properdecisions, how to recognize what
decisions have whatconsequences.
And I told them.
I said most adults have no ideawhat we're going to talk about.
(09:06):
I mean, they were from the ageof three to 15, right, so this
was super cool.
And they don't even know whatwe're going to talk about.
But you're going to learn itand so you're going to be so
smart.
And also and they loved it Likeone of them, she's nine, she
was like she's asking her mom.
She's like can Auntie Nneka dothis more than once a week?
Are we only going to do thisonce a week?
(09:27):
But it was so good, but whatwas I doing?
I was transferring.
It's intentional.
I was transferring a decisiontree Because for me, I'm like I
don't just make decisions.
Because I make decisions,there's an algorithm that runs
in my mind and you have analgorithm too, right, you may
(09:50):
just not recognize it, but weall have these algorithms that
are running.
And I was like what if I couldtake that algorithm, deconstruct
it and then teach it to them?
What, right?
Okay, so that's just an example, but you know, is just that
thing of transferring superiorways of thinking that you've
acquired to them, the superiorway of thinking that makes the
life you live now possible, thesuperior way of thinking that
makes the revenue you've beenable to create possible.
Now transfer it to them.
(10:10):
You might say my kids are young.
Oh my goodness, you have noidea what these people can, what
they can learn.
Just start, you'll learn how tocommunicate it.
Right.
I did catch stuff, okay.
Number three, third thing I'mtransferring is skills like
actual skills.
Okay, so back in the day, ifyour father was a carpenter, you
(10:32):
became a carpenter.
If your father was a farmer,you became a farmer.
And so there are these thingsof family skills.
Right Now it's a littledifferent.
You come and then you findyourself and then you go to
college, somewhere, whatever,whatever.
And for me I'm like uh-uh, I'mgoing to find the top, most
important skills that have mademe who I am, and you're going to
(10:54):
learn those.
Now you can choose to dowhatever you want.
Afterwards you can add newskills.
You can do whatever, but you'regoing to learn those.
Now you can choose to dowhatever you want.
Afterwards you can add newskills, you can do whatever, but
you're going to have the familyskills.
No, I didn't say the familybusiness, but you're going to
have the skills that have madeus who we are.
You're going to have them.
And so, for instance, you willsee that I've done this
experiment publicly with mydaughter, with Cheta.
She's 17.
Okay, she's 17.
(11:16):
And I thought about it.
I said, okay, if I couldtransfer business skills to her,
what do I want to transfer toher?
I want to transfer to her theskill of speaking.
I want to transfer to her theskill of selling.
I want to transfer to her theskill of networking, building
quality networks.
I said, if I give her thesethree, it doesn't matter where
(11:40):
she finds herself.
She will use these three torise to the top.
Okay, and so for me, what I didis I said, okay, I'm going to
have her go live once a week onFacebook.
Initially she went live in theFacebook group, in the Entremdi
Facebook group, and then, afterthat, she started going live on
my private page, on the EntremdiYouTube channel, my private
(12:03):
Facebook page.
You can actually go there andwatch some of her videos, and if
you do shout her out, she's a17-year-old, it'll make her
happy, and I have her practicespeaking.
And so then I taught her thespeaking framework and then she
would speak and come back.
We'd audit it, we'd improve,she'd go back again.
We audit, improve, go backagain.
And all of that.
Why am I doing that?
I want her to be great atspeaking.
(12:24):
Like, have that skill.
Now, that is a skill thatliterally creates millions of
dollars.
Like, why will I not give herthat skill?
That is almost more valuablethan any inheritance I'm going
to leave her.
If you think of wealth in thatway, right, okay.
And then this skill of speaking.
Most businesses that are undera million in revenue are under a
million in revenue becausesomebody doesn't want to sell.
(12:46):
That's it.
Not willing to sell, notwilling to sell in the right
volume, not willing to sell thisin the right way, and all of
those things.
Now, please don't misunderstandme.
It's not a judgment thing.
Yes, if you haven't hit amillion, you're working on it,
all that stuff, okay.
But everybody can agree that,oh, my goodness, most people
(13:06):
don't want to sell.
And if somebody can learn howto sell and become really good
at it before they find out thatpeople don't like it, that's a
good thing.
Right, and it's something I ranaway from.
I was just like I'm flat outnot doing that, I'm a
professional Professionals,don't do that.
Like I'm flat out not doingthat, I'm a professional
Professionals, don't do that,right.
And so I said, okay, you're incharge of the merch division.
I didn't put her in charge ofthe merch division because I
wanted her to be in charge ofthe merch division.
I put her in charge of themerch division because I wanted
(13:27):
her to know how to sell.
I want her to practice sellingevery week so she can do a
strong call to action everysingle week.
Right, and I'm going to keepupping the things that she will
sell.
But she's going to be a masterat selling.
And then, with networking, I setit up where she's interviewing
the doctors in the EntremetBusiness School.
(13:47):
Those are the people she'sinterviewing when she goes live.
So she has this opportunity tobuild her network.
Some of the photography, sheruns the mic, she does some of
the announcements and all ofthose things, and she has these
opportunities to buildrelationships with the doctors
in the on-training businessschool.
That's her doing her networking.
I do the same thing at church,I do the same thing when I take
her from my coaching programsand all of that.
(14:09):
I do that with even the babies.
I get them to where they'rebuilding networks with people
that I could not even have hadaccess to 10 years ago.
Do you see what I'm saying?
So I'm transferring skill.
These are family skills andyou're going to learn it.
So this is why, as anentrepreneur please hear me when
I say this every skill you needto learn to make your business
(14:31):
better, embrace it.
The evolution you need toexperience to make your business
better.
Embrace it.
Why?
Because now you have somethingthat you can then give to your
kids.
You can pass it on.
You can pass it on.
Your evolution is a gift toyour family.
Me, learning to speak, learningto sell, learning to lead
people, learning to build sevenfigure businesses, learning to
(14:51):
network, learning to you know,having an appreciation for
growth, having appreciation formentorship and coaching, and all
of that has put me in aposition where I can take those
things and transfer them to mykids and then they start off a
whole new level because they hadthat Okay.
The other thing, the fourththing, that I'm passing on to
(15:12):
them is the gift of adversity.
The gift of adversity, okay.
So if you're in a place whereyou had a challenging child.
I'm going to say challengingchildhood.
I'm just like things are betternow, right, Like the things we
needed to do then that peopledon't need to do now.
All of those things, the moresuccessful you become.
There's this tendency okay, ifyou're not on top of it.
(15:34):
There's this tendency to say,oh, I don't want my children to
go through what I went throughand you make life so easy for
them and they don't haveopportunities to fail and all of
these things.
If you put your child in thatposition, well, let me speak for
my child.
Okay, I don't want to judgeanybody's parenting.
I'm just here really to sharewhat I'm doing and it's a buffet
.
You can pick what you thinkwill work for your family.
But for me, if I do that, butfor me if I do that, I
(15:56):
understand that I'm setting mykids up to be failures, like
literally.
Why is that?
Because they're going to havefailed projects.
They're going to have so manythings that will not go
according to plan.
They're going to have so manychallenges in this life.
How do I know that?
Everybody has that.
They're not going to be thefirst four people in this
universe to have no challengesand not fail at anything, have
(16:22):
no challenges and not fail atanything.
And so if I can't train them onhow to handle adversity,
they're not going to be able tosurvive adversity.
There was a year my kids at thispoint were not swimming well or
anything like that.
I was like, oh my goodness, Ineed to put these kids in
competitive swimming.
And the only reason I wanted toput them in competitive
swimming because I wanted themto go and lose.
I want them to go for a gameand lose there and they're like
(16:44):
they're all crying and they'reall distraught and then we can
talk about well, this is how werespond to failure.
This is what we do.
This is how we process it.
This is how we bounce back.
This is not a class they canget in theory.
They're going to need to be inthe lab.
They're going to need thepractical stuff.
So you give them the gift ofadversity.
Right, that means they're onthe verge of making a mistake
(17:10):
and something and it's notsomething that's going to damage
their life or whatever.
Allow them make it.
Allow them fall on their facessometimes.
Allow them make it.
Allow them fall on their facessometimes, right, and then show
them how to get up.
I give them the gift ofadversity.
I give them the gift of that.
I put them in challengingsituations, I put them on stages
(17:31):
, I put them in leadershippositions so they can feel the
pain of it.
I'm not saying this as a I'm notsome sadist or whatever.
But if we can't equip our kidsagain, I'm not judging anybody's
parenting.
If I cannot equip my kids tobounce back from challenges, if
I don't like, I understand.
I didn't understand it when Iwas younger.
(17:52):
I understand that failure ispart of progress.
I understand that if you aregoing to learn to walk, you are
going to fall.
There's no way around that.
So I don't get thrown off somuch when I try to do something
that doesn't work.
But there are people who theytried to do something 10 years
ago and it didn't work andthey're still celebrating.
They're celebrating the 10thyear anniversary of something
(18:13):
that didn't work.
They didn't move forward, theydidn't do any of those things.
I don't want them to have.
I don't want them to have.
I don't want them to be that.
I want them to know this ispart of it.
I want them to have done thereps like, had so many failed
projects and practiced balancingback from it that they're good
now, like when stuff happens.
They're like it's part ofprogress, it's part of
(18:34):
succeeding.
The gift of adversity, the giftof adversity, the gift of
adversity Okay.
And then the fifth thing.
The fifth thing I'm giving mykids is and I've alluded to this
a little bit is the gift ofnetworks.
Okay, guys, your network isyour net worth.
Okay, your kid's net worth willbe their net worth.
(18:54):
Now, you've already built allthese relationships with people,
maybe people who are doingbusinesses much bigger than you,
people whose families you'veloved and you learned from them,
people who understand how tomultiply wealth, all these kinds
of things.
You can introduce your kids inthe mix, right.
(19:14):
And these become their networkstoo, right.
And so I introduce my kids toall kinds of people, I connect
them to all kinds of people, andI do it intentionally, and when
I do it, I train them on how todo that and how to maintain
those relationships and how tokeep the reciprocity bank full
(19:35):
and all of that stuff.
Why Do you know their people?
The only reason they'resuccessful is because of their
network.
The only reason that is howpowerful that one asset is right
.
And so I'm giving them that,okay, so what am I giving them?
My victory stories, my mindsets, my skills, the gift of
(20:01):
adversity and my networks.
Right, there are so many doors,for instance, for my daughter,
for my daughter Cheta.
There's so many doors thatright now can open for her with
one text message from her tosomebody in her network, because
she's building it right Now.
Imagine having those five thingsand depositing, installing
(20:25):
those five things in my kids,giving them the gift of those
five things and then giving themwealth.
They have the adversity tohandle, whatever comes with it.
They have the skill that theycan use to create more or to
multiply it.
They have the mindset thatwon't let them get thrown off by
that.
They have the stories, so theyhave this feeling of this is a
(20:49):
legacy, this is somethingentrusted to me, this is
somebody's whole journey, likethe fruit of someone's whole
journey that was transferred tome.
And then now it's myresponsibility, if you will, or
my opportunity, or my privilege,to take this to the next level.
It's not a pressure thing, it'san opportunity thing, it's a
(21:12):
gift, it's a privilege, butanyway, that's what I'm doing
with my kids, that's what I'mgiving to them, installing in
them, and someday there'll besome wealth transfer, but this
is what they get for now.
And in my mind, this is morevaluable because guess what, if
(21:34):
they didn't get any wealth, theycould create it.
They have the stories thatnormalize it and let them know
it's possible.
They have the mindset, theyhave the skills, they have the
net worth and they can handleadversity.
They can create it.
Even if they got nothing, theycould create it right.
So that's what I'm doing.
So for you, I want to invite you.
(21:54):
I talked about your evolution.
For you, I want to invite you.
I talked about your evolution.
I want to invite you to thensee that your evolution sets the
stage for you to have the bestassets to give your kids.
Okay, and you know, entremd,we're all about helping doctors
become the kinds ofentrepreneurs that can build
(22:14):
profitable businesses.
Have their time back, havetheir freedom back.
Six figures, seven figures,multiple seven figures, eight
figures, whatever number it isthat you want.
And if you're like now thatyou've put it this way, I
realize that when I work onmyself, I'm creating
generational wealth, becausethat's what you're doing.
That's what you're doing, infact, in the Ontario Business
(22:35):
School.
We have a name for the kids ofthe doctors in the Ontario
Business School.
They're called EBS Juniorbecause the things the parents
are learning is showing up intheir kids.
Their kids have launched bigbusinesses, they've launched
podcasts, they negotiate likebosses, they work in the
parents' business all kinds offun stuff happening.
And this is not anything formal, this is just based on the
(22:56):
parent's evolution.
Okay, and so if you're like man,I want to take my evolution a
little more seriously than I'vetaken it.
You know, book a call with myteam and they'll kind of walk
you through.
We have many ways of supportingdoctors and they'll kind of
walk you through what might bethe best next step for you.
And so, entremdcom, forwardslash call, that's EE-M-D,
entremdcom, forward slash calland my team will be really happy
(23:19):
to talk with you.
But I want to challenge you toprioritize your evolution and
your development.
I want you to start seeingthose things right, your stories
.
So you want to acquire morestories.
Right your stories, yourmindset, your skill, your
network and the gift ofadversity as assets.
(23:40):
Like the same way you'll see aproperty, like, oh, I'm going to
hand them this portfolio offive buildings.
The same way you see that isthe same way you see these
assets and you're like, I'mgoing to transfer these to my
kids.
Okay, I want you to prioritizethat.
Docs, listen, we're a new breedof docs.
We are doctors who are buildingbusinesses that are thriving,
(24:00):
building them in sustainableways.
So we have time freedom and wehave financial freedom and we're
the people who don't let all ofthis amazingness stop with us.
We're able to transfer it tothe next generation.
So I'm so honored that I get todo this with you.
Please share this episode withevery doctor in your world and
tell them oh, my goodness, Ifound the secret right.
(24:22):
Share it with them.
Let them listen to them.
Listen to it and let's do this.
And let's not just becomepeople who become phenomenal
entrepreneurs and all of thosethings, but let's become people
who do that and leave our familypowerful legacies.
Okay, all right, rooting forevery single one of you.
I'll see you on the nextepisode.
Go, book that call with my teamEntremdicom forward slash call.
(24:43):
I'll see you on the nextepisode of the Entremdi podcast.
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