Episode 428: Fire Yourself & Create Passive Income in 3 Years or Less with Bronson Hill

Welcome to another episode of the Above the Business podcast. My name is Bradley Hamner, your host. On today's episode, we have Bronson Hill. He's the bestselling author of the book Fire Yourself: Replace Your Working Income with Passive Income in 3 Years or Less. And the reason I want to have Bronson to come on the pod is because I know so many of you who are small business owners and entrepreneurs have taken some of the profits from your businesses reinvested those profits, whether it's in real estate, etc., with some passive income. And I thought that this would serve all of you. I try to think about small business and the people that we serve doing $300,000 to $3 million in top-line annual revenue as something like this is— I know for many of our members, these are things that they are either already currently doing, and I know a couple of members who have actually been able to do this. They've replaced their working income with passive income. And so I wanted to have Bronson to come on the podcast. So without further ado, here's my conversation with Bronson Hill. Bronson, welcome to the Above the Business podcast.

Hey Bradley, excited to be here, man. Love talking business and, uh, all things how to make business easier. So I know that's what you're in the business of, so excited to talk.

Yeah, no, no doubt about it. Well, listen, thanks for making the time. Listen, I've done the podcast for 5 years. I've never had someone actually have to flee from, uh, from the fires in, in California. So appreciate you being able to first First of all, I'm glad you're safe and appreciate you being able to, to make it on the podcast and you're, you're safe. So thanks so much for, for being on. Why don't you just tell our listening audience a little bit of your backstory? That's what we always start with, background and origin story, and kind of bring us to present day about what you do.

Yeah, thanks, man. I appreciate it. It's good. Always good to be safe and be away from the fire. I guess I bring the fire wherever I go and it's hopefully a different type of, you know, fire of the heart. But, but yeah, so I was a well-paid medical sales professional. I was making over $200,000 a year in surgery. So I was helping heart physicians with their different devices. And I kept saying, you know, I'd love to have something that I could sell or something that I could do that I wouldn't have to be making all this money for someone else or being really— in a way, I wasn't a business owner, but it was like being a business owner. You're kind of stuck to the business. I couldn't really get out of it. And so regardless whether you, you know, have a business or you're in a role like that as a well-paid professional, it's like you can be doing a time for money trade. And so people will say, I want to have financial freedom, but really to me it came down to time freedom, right? I wanted to have time to be able to take, you know, make multiple vacations a year. And if I, you know, in a lot of jobs or businesses, you don't show up, you don't get paid. And so it's really trying to figure out how to do that. And so in the process of doing that, I knew real estate. A lot of my friends that were wealthy had done real estate and I was like, everybody kind of knows, hey, I should do something in real estate. And so I did what a lot of people do is I bought a house and I bought another house, got to a small portfolio of houses, and I realized it was a lot of work. And so I, I found a mentor and realized that, you know, going larger would actually get me to my goal much faster because managing, you know, 30— I didn't have, but I had 4. But getting to 30 houses sounded like a lot of work, sound like another job, right? Trading one job for another. And so I started to learn about something called syndication, which is basically when we pool together different investors and we go buy big apartment buildings. And so did that for a number of years, done over 2,500 multifamily units. People do it for cash flow, appreciation, or tax benefits. And then also we've kind of ventured off into the business space. We're doing some different oil and gas and business stuff to provide strong cash flow, which is something that's been a little more challenging these days with, with real estate. So I wrote a book actually about it, as you mentioned, called Fire Yourself: How to Replace Your Working Income with Passive Income in 3 Years or Less. And I'm really passionate about helping business owners and professionals to leave their business or their job to be able to have, you know, passive income that, as Warren Buffett would say, you're making money while you sleep, right? So if it's something that you're actually involved in, it's not really passive. And so the goal, hopefully, of most business owners is to generate cash to be able to put into things that you don't actually run that generates cash for you. So while you sleep, it's actually making money. So a lot of things people say are passive are not actually passive. That's really my passion. Passion is really creating things like that for people, helping people on that journey, educate and just learn how to do that.

Well, you teed me up for my, I guess, second question, which is how do you determine what is passive? Because to that point, like, I have a— I guess I would say it's a lake house that's a short-term Airbnb. I mean, so it does not— doesn't do a ton of bookings. I don't, you know, 50 to 100 a year or something like that. I'm not trying to, you know, build an Airbnb portfolio, so to speak, or anything like that. At least I have not up to this point. And it is a lot of work still. To do that. And so to say, "Oh yeah, that's just inbox money," I'm like, "I don't know about that." So what do you determine and how do you define what is passive and what isn't?

Yeah. So it's a great question. I think if you were to look and say— actually, I would just love to ask you that. So with that, if you're comfortable sharing, if you look at how much you make on that minus your expenses and utilities and whatever, any fees and whatever, how much are you actually making from that lake house, would you say, per year?

Oh, I mean, it's probably cutting the expenses down by 50 overall, 50 to 60%.

Okay. And then so let's say, let's just say it's what do you say, which is $20,000 a year maybe or something like that or $25,000 or maybe not that much.

Yeah.

Yeah.

I'd say in 2024 it probably brought in $25,000. Yeah.

Yeah. $25,000. So then, like you said, it's a lot of work. So you have to kind of figure out, okay, what, what sort of amount of time am I putting in this? That's the thing that a lot of people don't value, right? And they don't look at and they say, and this is really the test and I talk about this in my book, if let's say you had 3 3 lake houses or you had 5 lake houses or 10, and you'd say, if I— can I 10x my current strategy right now? Most people, their eyes just like bug out of their head because they're like, it's a lot of work, you know. First of all, I don't want to spend the time doing that, right? So that's really the test. If you couldn't 10x currently what you're doing, it's not really scalable and it's not really passive. It doesn't mean you shouldn't do it, it just means you should look and say, well, if it's not— there's not a scalability there. So I think that that's really a big test for it. A lot of people say passive income is, you know, owning rental houses, or like in your case, a lake house, or it could be an online business, or it could be some other type of, you know, trading strategy online, but those things really are not passive. And so I think the thing is, you know, it comes down to your time. You know, hopefully, ideally with a passive investment, you are, you know, doing diligence on a group, you're doing it, you know, we do deals, other groups, there's many other groups out there that do different types of passive deals, looking at the actual opportunity, making a decision to invest and then sending your funds over. And once you invest at that point, it is passive. Now you can get statements, you check, make sure that the distributions show up, but it's, it is more passive. So it's not, there's nothing really that's fully passive, but I know people in these types of deals that are in, you know, 50 or, you know, many types of deals. And of course that can become a full-time job too. So maybe it's, you know, instead of 50, maybe it's 12 deals with a little more, you know, more resources in there. But again, it really comes down to being able to have a team of people, kind of the same thing you're doing and teaching people how to have a self-managing business or be above the business. You don't want to be in the business of your investments. I want to free up my time so that I actually can live life and then just kind of check in and have my investments kind of run themselves. Right. I have a team of people doing this for me rather than me doing it myself.

I would even say that if I was wanting to get into this, I don't even know if I would even put for me personally, and I'm trying to not make this about me. I'm actually trying to paint a picture for somebody who has said, Yeah, I would like to get into the passive market game, right? I'm making, you know, $200,000-$300,000 within my business personally now. And so we're able to live comfortably as a family. And so I'm wanting to, you know, put some money somewhere. I've got $5,000-$10,000 a month to be able, maybe even $20,000 a month that I can reinvest in something. Okay. Where do they begin? Where do they actually start now that they've had the idea, man, maybe in the back of their mind? They just don't know. Okay, now what, what do I do with this?

Yeah, what's next? And that, that is, that's the challenge, right? Okay, I have this idea, I want to, you know, do this. What's, what do I do? The first thing I tell anyone is, is to— the first thing is learning, right? You've got to actually learn about, well, what is this? What's out there? And then my book, uh, Fire Yourself, talks about this a bit. There are other great books like Rich Dad Poor Dad, other books that are just talking, kind of getting you in the mindset of how do you actually scale up wealth? What does this look like? I'm going to local meetups is great. Going to conferences about real estate investing. And what happens is it's a great idea when you, you know, you read it in a book or you hear it online, but when you're around somebody that has been in your situation, a lot of people that do invest in real estate are either business owners or former business owners. And so you get in a room with people that are doing it, or maybe friends that people have in their, you know, your network. You can kind of ask and say, hey, this is what I'm thinking about. What do you think? Or are you doing any of this? Or what do you— and when you— let's say you have another person who is a peer you've known for a while and they say, yeah, I've worked with these guys for for 10 years and here's the results and it's been great, right? That's a great referral, right? Because they're not really trying to sell you anything. And I think one challenge in the financial world is that people like myself, there's a lot of well-intentioned folks that are trying to help people like we are as well, but we're all biased, right? We want everybody to do our deals. So, a great way is to get around people that are not biased, that are in the same place that are doing some of these passive investments. And I think local real estate meetups, which are in most major or midsize cities, you can just search them online, meetup.com, you can find them. There are national conferences. Getting some of those peers that are actually, hey, I'm a passive investor, I'm not here to sell anything, right? I'm just here to kind of like, you know, share, you know, network and talk to other people. So I think that's really a big thing is kind of getting around other people. And then the kind of final thing I'd say is to make a decision. It's like, hey, I'm going to do this. I don't know kind of what I'm going to invest in. Maybe I've got $50,000 or I've got $100,000, you know, that I can invest. I want to do it within the next 60 days. And then it puts some time pressure on you to— so great podcasts like this. We have a podcast called the Mailbox Money Show, and there's just different ways that you can learn about groups that are operating deals. And then you can get on their deal list, you call them like we have a process where people go to our website, BronsonEquity.com, and they basically set up a call and they learn about our upcoming investments. So there's a lot of groups out there that do that as well. And so getting on a few of these lists is helpful. And then you kind of just say, yeah, within the next 60, 90 days, I'm going to pick one, I'm going to invest. And what you— there's a learning process that happens once you send those funds that you're going to pay pay attention, right? It's, it's the idea of playing poker for, for fun versus you're actually playing for money, right? When you're playing for money, you're gonna pay a little more attention. It's gonna be a little more important. It's the same like that with investing. It's just really, um, when you actually are invested, then you're going to learn, uh, you know, most likely the deal will probably go just fine. And then, you know, you want to actually, uh, you're going to ask questions, you're going to kind of learn, is this, is this a group that I want to do more deals with? So I think those are a few things: getting around the right people, educating yourself, and then making a decision that you actually are going to invest within the next, uh, 60 to 90 days.

What are typically the biggest mistakes made, even if those are mindset, mental mistakes about how they're, how they see it, how they approach it going into it?

Yeah, so I think, uh, one of the biggest mistakes I see in this is that, um, you know, most people— and I, I used to be a registered investment advisor, which is called an RIA. I still call myself an RIA. I'm a recovering investment advisor. So in my book, I talk about this, that Wall Street doesn't always kind of have our best interest in mind. There's a lot of misalignment of interest. You know, your, your fund manager or your Advisor can be making money while you're losing half of your portfolio, which we saw in 2008. And so there's a misalignment, right? I think people that manage over $100 million in a fund, 50% of them didn't have a single dollar in that fund, right? So most people that are doing private deals have a substantial amount of their income or their net worth or their, you know, in the investment as well. So, so I think that, you know, one of the things I see is that people are in traditional investments. It's not that traditional investments are bad. It's just that I love real assets because, you know, you don't have those misalignment of interests. You don't have a counterparty risk in the same way that you have for some of these stock and bond investments. You're not just kind of following the herd, which is kind of getting in these types of things. I also think that analysis paralysis is a big one. So again, having an idea that's like, oh, this, this sounds— you hear, I hear this on a podcast, I should do this. And then you don't know anybody has done it, right? You don't know a single person that's kind of done it. Just it's just, it's just an interesting idea. And that's where getting around other people can be really valuable. But I do think that, you know, most people that hear about syndication are like, you know, it's just going from, hey, I have a money person and they think this is kind of weird and whatever. Well, the money person typically is fund managers, registered investment advisor, a broker-dealer, somebody who you're working with who's a traditional Wall Street, you know, Morgan Stanley kind of person. They are incentivized to keep you into their investments—stocks, bonds, funds. There's a lot of hidden fees that we don't see. But, you know, that's really what, you know, you're encouraged to do, whether it's with your business, with your 401(k), with yourself. Your SEP plan. This is really what kind of the culture is. And they pay literally billions of dollars to educate you that this is traditional. And there was a time back after the, you know, the big Great Depression where people would say, why in the world would you ever invest in stocks? Because stocks went down 89% over a 5-year period and they didn't recover from where they were for 25 years. Right. So that hasn't happened obviously since, you know, the '20s, '30s. Almost 100 years ago, but it could happen again. So I think that we're educated that stocks and bonds are just, hey, these are safe, these are traditional investments. A lot of people, they're just really not versed in, hey, can I do something outside of what is traditional?

What is your thought? I've had this thought. I know small business. Why don't I just stick to what I know?

Yeah. Yeah. And I think in reality, I mean, there's a lot of good merit to that. If you look at kind of the wealthiest people on the, you know, the top 10 in the world, they all made their money through business, right? They all made their money through business. Yeah. Now, at the end of the day, you know, most people would like to say, hey, you know, with my business, I'd like to actually retire one day, right? I'd like to actually not have to do this. I've worked so hard. You know, there's a book out called The Five Regrets of the Dying, and it's basically a hospice nurse that talks about people as they get older. And a lot of them would say, I wish I'd spent less time at work. I wish I'd followed my purpose. I wish I had done things that were really meaningful or created meaningful memories with family. So these are things that, like, you know, there are people like Warren Buffett that are in their 90s that are like, you know, he talks about tap dancing to work and he runs businesses and he's an investor, whatever, you know, he has flexibility with and he's more of a kind of above the— even above the business and investing and that kind of thing. But, you know, I think if you have an opportunity, I mean, I think at the end of the day, you know, for somebody who's in their, you know, their 50s, 60s, or even their 40s, I talked to so many people and they're saying, you know, I want to get out of the grind. I don't want to be doing this in the same way anymore. And so maybe there's a way to go semi-passive with your business. But as you're making money, you are not diversified, right? So let's say I'm making $1 million a year and, you know, sometimes you just can't deploy it back in your business. Maybe you can, but even if you can deploy it in your business, should you? Right. Let's say that business fails for something out of your control. Business is inherently risky, right? No matter what your business is, maybe you have a A 50-year-old business, their businesses fail every year. A lot of businesses fail. So if the goal is to grow the business, to take money out of the business and hopefully put it in something else that's totally uncorrelated, right? So that if the business or the sector or the industry, you, whatever, something happens, or let's just say, um, as an individual, and this is something I talk about in my book, let's say, heaven forbid, I had a health issue or a family member had a health issue, or I was keeping him disabled. Would I be able to actually survive through my investments and not have to work and not have to rely on other people? And sometimes people get in a situation where they, they all of a sudden have a health issue and they've got to get out of their business, they've got to sell. And all of a sudden what they thought they had as this big nest egg really is not as valuable as they thought because it's so dependent on them or they just don't have anybody there. So the goal again is to grow wealth, to be able to pull it out of the business and then to be able to put it in something unrelated that can grow no matter what happens with their business. Right. So if the business thrives, the business fails, whatever, well, you've got this other thing over here that's totally uncorrelated. Now, again, some of the wealthiest people have kind of done some of that, some of it will double down on the business. If you think that there's 100x growth potential in your business, maybe it's worth sticking in your business for the next 5, 10 years and saying, I'm going to do this and whatever. But for most people that are small or mid-sized business owners, I think it's— if you can pull money out of the business, put it in something else that's going to grow the wealth, I think it's a much safer and better approach.

Personally, we're going to make an assumption here that your business is, is profitable, healthy, growing at the pace that you want. It's throwing off the personal income that you need it to be able to throw off for you. We're making all of those assumptions to lead to this question. How much money do realistically do I need to be either cash flowing monthly? Okay. Cause I think there's two different options here or sitting on before I even, before this becomes a, uh, something to consider. Yeah, I think it's a good question.

I look at it a little less in how much money you're making in your business, and I look at more of how much savings you have or how much money is kind of on the side. I mean, I think even you step a little higher than this is for me, you know, it's called the rat race number. Like, what's the number that I need to be able to live comfortably? We have my lifestyle. For me, I live in LA, but I was living, you know, pretty simply. This was, you know, 3 or 4 years ago working my corporate job. And I realized, you know, if I just looked at kind of bare bones, hey, if I'm going to travel a little bit, I'm going to cover my my housing, my, you know, insurance, my car, all the things you want to do. It was not a lot of money. It was like maybe $6,000 a month. So. Right. Some people would say their number is $10,000 or $15,000 a month. They live a different life. So that's fine. Well, that's, that's your rat race number. So if you have kids and you got to figure out everything, so we'll figure out what that number is. That's the first financial freedom number. So and again, it starts with small things. It's not like I've got to go from zero money in passive income to like $6,000 overnight or $10,000 overnight. It's, hey, can I add this year Can I add $1,000 or $2,000 or $5,000 a month, you know, potentially in passive income? Can I start growing that number? And if I build on that, that's what allows me to get to a place where then work or working in the business is optional, right? So it doesn't have to be this huge number. And again, I was making over $200K a year. This is a much lower number, but I realized I only needed that once I had that in my kind of coming in passively. I had a choice. Do I want to keep doing this at work or do I not? So for a lot of people, your question, it could be that, hey, I've got, you know, $5,000, $6,000, $10,000, you know, whatever coming in, $20,000 per month coming in or $50,000, whatever that number is. And you can say, okay, well, can I start taking money and putting it into this other bucket, which is really a passive income bucket that I start to grow that. And then, you know, it's just something psychologically happens when— and it happens at a job. Let's say I'm a professional, I work a job, and this is for me. I had a business and I was working a job. So maybe some people are are doing both, right? They've got a W-2 and they're doing a business. So once I got to where I had more money coming in from my business than I have my job, that was a very freeing feeling, right? Because I knew no matter if my boss was, was being ridiculous, I had the choice, the option to be able to leave. It's really tough when you know you can't leave and you're stuck to a business that forever is not, or a job that you're not enjoying. So I think it really becomes, comes down to giving you more options, giving you more freedom. And so let's say you are making, you know, $10,000 in your business. I look at how much can you save? Can you, can you find, you know, usually these investments or $50,000, $100,000 kind of minimum. So if you can kind of get that together where you still have liquidity, you know, obviously that's not the only, the only money somebody has because some of these deals, it takes several years for cash to start coming back or maybe 5 years for all the funds to hopefully come back. But there's, there's risks in investment. So I think that those are things to kind of consider when you look at kind of your financial situation.

Yeah. Yeah, I think that's, I think that's good. I mean, you know, yeah, and everybody's situation is different, especially, you know, you get lifestyle creep. Let's be honest with you, right? I mean, you know, you get lifestyle creep and, you know, you started out and, and early on, uh, you're making $6,000 a month and you feel like you had more money than when you're making $26,000 a month because of the kids and cars and all those kind of things. And things just kind of, you know, creep, creep up, so to speak, you know. So I, so I totally get that. Um, yeah. And so How do you, when someone comes to you and they're sitting on, you know, a pile of cash, $100,000, $250,000, $500,000, whatever that number may be, and they're starting to get into some of these, what are some of the things that you walk them through to help them to kind of see the varying levels of maybe risk and return that they may have? Versus maybe looking at alternative investments?

Yeah, so I think, you know, everybody has a different sense of risk tolerance and obviously age is a part of it. And, you know, that's one thing I've realized in finance, even as when I was a registered investment advisor, you couldn't really tell someone how to invest from a risk perspective. So, you know, we had this, this, this word called suitable, right? So you had to put people into suitable investments. I'm speaking as a traditional investment advisor, and that's why I was like, you know, The Wizard of Oz, where you see the man behind the curtain and just pay no attention. You kind of see the emperor with no clothes and you're like, oh my gosh, like, this is not actually what people think it is. But the word suitable, we use it in investing, is that you just had to put people into suitable investments. So if a guy's 90 years old and he's, you know, net worth of $4 million or something, you wouldn't put him into a venture capital kind of, you know, 10-year thing, high risk, whatever, because he needed— maybe he needed the income, right? It was like, well, he's going to be dead by the time this is done versus somebody who's younger. They can tolerate more risk. But the challenge with that word suitable is that I've never heard anybody say, you know, in my life, I'm really looking to just, you know, go on a suitable vacation or I'm looking for a suitable spouse. Right. Or I'm looking for a suitable business. The word is kind of a weird word. It's kind of like just an average, okay, whatever this is. And I've never wanted to be in suitable investments because I thought, well, I want to be in deals that I find are great deals or they're conservative deals or there's, you know, not a lot of risk or maybe there is risk, but there's a high reward potential. Right? So I want to kind of be in those type of deals. It is hard to evaluate on the front end. And we've had deals that, you know, we've made lots of money, we've lost some money in deals, and it's hard to evaluate on the front end what the actual risk profile is. There are certain things that I would say are lower risk profile. Some of the lower risk profile, one of these are our first position debt funds. So let's say, for example, there's a debt fund we're involved with. It's, it's like we're doing small loans for commercial properties. It's 50% loan-to-value, this kind of thing. So if anything goes wrong, you know, we take over the property at 50% of the cost into it and we're able to kind of either resell or take it over. So that's a very low-risk position. Higher risk, well, we have a deal that's— it's a potential 100x type return, right? But I think there's a sizable chance that it goes to zero, right? It's in a VC or tech area. And then we have other deals that are kind of, you know, like multifamily or other kinds of deals, oil and gas, other things that we see hopefully some more safety in that are, you know, steady cash flow or there's steady appreciation. But I think that, you know, as you talk about this in my book, how do you evaluate risk? I think it's important that you ask the question, two questions. One is, is how do I make money on this deal? What is the plan to make money? And that's what you do in your business, right? If anybody has a business, how am I making money or how will I make money on this? Like, what's the business plan? And then what's the primary risk or what are the one or two risks that you see are ways you could lose money? And when you have a call with that sponsor, the person operating that deal, you don't tell them what you think. And you say, what do you think is the biggest risk in this deal? And they may say something totally different, right? But it's very important you go eyes eyes wide open that, hey, you know, what are the things going in that could go not as expected? It could be the real estate property. Maybe the group doesn't operate it according to the best way, or maybe there's a higher— and maybe interest rates go up like we saw. That was, that was something that happened that caused risk to increase in these deals. So I think it's just asking those two questions, trying to poke holes. Um, also, and I think that's very helpful with the networking we talked about too, getting around other people that have been doing this for a while and showing them deals. Say, hey, here, I think— what do you think about this deal? Whenever— hear what they say, right? So you're kind of almost like getting in a group of people. And we actually have a mastermind called The Wealth Forum that we do this with high net worth individuals where they just kind of are in there sharing deals and sharing information. And again, it's really trying to facilitate those conversations around looking at deals that actually, you know, what actually makes sense for us and not in a place where people are pitching anything. It's just trying to say, how can we compare notes and work together? Hmm.

Yeah, I think it's right. You know, you've mentioned it a couple of times and I would just— I've talked about this on the podcast many times that And the longer that I've gone, the more that I actually believe this, what I'm about to say. And that is, you can call it whatever, mastermind, but being around other people, being in community with other people that are trying to do the exact same thing that you are. And so, and you know, and the biggest benefit, um, with our, my own program has been the community that, that people around. And so they're bouncing ideas off of one another and creation of small groups to take a thing that they're interested in or that they're working on together. And so sharing other people's deals, and you get the benefit of that, Bronson, because you were the one that was the curator of the— curator of the community, you know, right? Um, uh, even though the community really ends up becoming bigger, or the mastermind, whatever— again, whatever, I'm using community as a kind of a broad term— but the mastermind, um, because you were the one that created that and it becomes even bigger than you do because you get so much depth and nuance. I'm actually in a group myself. Um, there's— it's a WhatsApp group that actually spun off of a bigger, uh, a bigger group. Okay. And I kind of got into the WhatsApp group, um, casually, and there's probably about 80 people or so, business owners, really literally around the world. And this came up recently. People were talking about a particular business topic. And I found that topic to be interesting and I had not been super active in that chat really. I mean, I had it on mute and I said, actually, I'm really interested in that. I would love to know what people are doing specifically with this thing. It had to do with, kind of building a community in particular. And so I said, hey, is a couple of people interested in getting something together? Now I'm thinking there's going to be like 2. Ended up being 21 people we're meeting in 2 weeks from now, or jumping on a, on a Zoom from around the world to talk about this one thing. And it's like, wow, okay, I actually did not expect that. And there's no money exchange, it's just, it's just like pure, we're trying to learn from one another on these type of things. And I think that's super valuable, what you've been able to create there with other people looking to do the same thing with deals.

Yeah, it's amazing. It's— I actually was talking with a friend about this the other day. This person is a business owner, you know, high net worth, probably over $10 million, like, you know, in the business, but kind of, you know, outside of it, just kind of what we— a lot of us listening probably would want. And he was just saying, hey, you know, I'm looking at— he actually was thinking about our mastermind, whatever. But he also said, you know, I'm looking for this kind of a group. It was more of kind of like a— I describe it kind of like a bros group, right? He wanted to get together and do cool things and go to share life and whatever. And it's like, that's great. Well, it's really not our group, but that's— and I said, you know, he's looking around for— Why don't you start something like that? Or why don't you get together with some of you, like what you did, get together with some of your people around you and say, I'm looking for this. And so that peer group is huge. And so if anybody's in a professional network or a business network or whatever, you may think you're the only one interested in passive income, but you start asking around and you realize all these people are doing it, they're interested in it, they want to do a group in it. And you could actually be someone who just by being in the center of that, you get deals that you wouldn't have heard about and you get access to different events. I mean, it's just all like when we start talking with each other, each other, It doesn't have to be a paid-for thing. It can just be, hey, let's get together. Let's talk about this thing we're excited about.

So I think that's great. Yeah, yeah, totally agree. Yeah, I, I, I, I love business and I love golf and I'm like, oh yeah, I'm gonna start, I'm gonna, I'm gonna jump on this YouTube train and do, I'm gonna do golf and business.

Love it. Yeah, I'm a golfer as well, so I love, I don't golf as much as I like, but I did, I played in high school, so yeah. Yeah.

Well, Bronson, how, how do people need to get in touch with you if if they would like to learn more about what you do?

Yeah, I'm happy to touch base with anyone. You can go to our website, Bronson Equity. There's a free gift I have for your audience. It's basically a guide, a 40-page guide on inflation. So a lot of people don't talk about inflation right now, but we're seeing it, you know, food costs and gas costs, all these things are 50% higher than they were 4 years ago. And so there's a book called— ebook I wrote called How to Use Inflation to Your Advantage, right? So it just gives you some stuff probably you've never heard of around on real estate and using debts as well as precious metals and just some things that again are very a little bit outside the box. I always love kind of learning new things. So if you're a listener, text the word inflation to 33777. So if you text the word inflation to 33777, we'll send you a free copy of that. And then you'll hear about our upcoming deals and things that are going on in our newsletter as well. So, but this has been great, Bradley.

Really appreciate having me today. Yeah, for sure. All right. Got one last question before we jump.

Sure.

What do you think working above the business means to you?

You know, I love the principle of it, right? It's just the Michael Gerber, you know, working, not working in the business, working on the business, right? Being outside the business. And I think having a self-managing company is huge. And so it's something I want to grow wealth without taking up more time. And I hope for every listener too, that's the goal of you in your business, is that you're continually finding ways to buy back your time and get out of your business so that you can actually do the things that matter most. Because most people on their dying day, they don't say, I wish I had spent more time in my business. They say, I wish I'd done these other things that actually provide more purpose and more meaning, and they're around people that I love. So that's my hope for every listener, that they will find ways to do that, especially through your program.

Awesome. Bronson, appreciate you coming on, man. Thanks, Bradley. All right, everyone, here's the outro for the podcast. I really enjoyed that episode with Bronson. I, I know that that's a topic that a lot of people have. Thought about, and some of our members do quite well. And so I thought it would be worthwhile having someone else on to come in and think about, okay, what do you do with the money? Yeah, once you've made the money in the business, now where you begin to invest in it. So hopefully that's helpful to you. If it was, hey, send me a message, connect with me on LinkedIn. Um, love to hear, um, people that you would love to see on the podcast. It'd be a great way for us to be able to connect. Big shout out to our podcast sponsors: Club Capital, Coach P Consulting, Today App Pro, and Autopilot Recruiting. If you want to be able to build a bench in 2025, go to Autopilot Recruiting. They can help you to be able to bring on A players on your team. If you're an insurance agency owner, you want to develop not only yourself but also your team members, get around like-minded individuals that are also trying to do the same thing as you, go to Coach P Consulting. .com. Depending on where you have different tech, etc., I've talked about even in a recent email that I sent out about software that I would just simply was not using. But if you're an insurance agency owner and want to use a software that can really help you to be able to grow and scale your business in 2025 and beyond, go to todayapppro.com. And obviously, I mean, talking about money, you want to be able to have a plan, work with Club Capital, even consider their CFO services, be able to help to really get a plan and forecast ahead so you can forecast to make the money so you can go and invest in some of the things that Bronson was talking about today. Go to club.capital and book a demo. All right, everyone. Hey, we'd love to see what it means to be able to scale your business. That's what our Blueprint Community— we do. We help small business owners doing $300,000 to $3 million in annualized revenue to be able to scale by becoming the architect of their business. Best thing to do, go to my website blueprintos.com and register for one of my upcoming web classes and learn what it means and get our blueprint to scale. All right everyone, till next episode, lead well.