Money-Making Strategies & Responsibilities

Have you ever noticed there are two types of entrepreneurs? One type of entrepreneur is extremely busy in their business, absolutely just does not seem to be able to take a break. The other entrepreneur actually enjoys the money they make. Welcome to the Magnetic Marketing Podcast. So excited to be able to have you back. In this episode, we're going to be having a Q&A between Bill Glazer and the man, Dan Kennedy. We're going to be talking specifically about the money-making strategies and Responsibilities. Now, a lot of us look at the responsibilities in our business and we see those as paramount. That is first type of business owner. The second type of business owner, the one who actually is able to enjoy the money they make, has a different set of responsibilities, a different set of values. And in this episode, we're going to dive into the differences, lay out the 5 responsibilities for a Renegade Millionaire's desk reference and action guide, and how you can tell the difference, which between the two types of business owners. We're actually gonna start right there as we jump into money-making strategies and responsibilities with Bill Glazer and Dan Kennedy.

I don't think there's anybody that has had a bigger impact in the field of direct response than Dan Kennedy. The legend of Dan Kennedy should be ignored at your own peril. They're not really lessons, they're kinda laws that you live by. Dan opened my eyes to what small business marketing looks like. Dan teaches strategic direct response that is timeless. His ripple effect touches people who don't even know his name.

The world as we know it was changed because Dan Kennedy became obsessed with marketing.

Welcome to the Magnetic Marketing Podcast with your host, Dan Kennedy.

So today's call, we're going to be talking about, really about money strategies, and then on the The tail end of the call, we're going to be talking a little bit about enjoying the money, but the beginning part is really about money strategy. So, Dan, I want to just start right off with a question to pose to you, which is this: at our super conference that we just had, or at the info summit that we had before that, If I go and speak at a Glaser Kennedy chapter meeting, and if I ask people in the room how many of them are having a better year this year than last year, well, interestingly enough, if you ask at our SuperComets or InfoSummit, I would say close to 60% of the room, maybe 70% of the room raises their hands. If you ask at a chapter meeting, I usually see somewhere in the neighborhood of 35% to 50% of the room that raises their hand. Raising their hands. And I don't know how people would respond to those numbers, but if you went into a regular room somewhere, if you went to a local chamber of commerce and you asked them that question there, maybe at most 15% of the room would raise their hand given today's current economic situation. So I guess the first question I have for you about— and this really ties to money— is first of all, why do you think like if in the Glazer-Kenny world our numbers are so much— our members are being so much more, as a percentage, so much more successful than in the regular small business entrepreneurial world?

Well, I think that— first of all, I think that whether you're doing better year to year or not, and obviously we could play with the definition of better because it will mean different things to different people, but if you're doing better year to year, that still ultimately has more to do with your own behavior than it does anything else. And so I think that it would be fair to say that our members are by nature conditioning and discipline in most cases already before they become members, and in fact are in many cases attracted to becoming members because of the fact that they are already more focused on effectively managing their personal behavior in order to be successful than the general business population. In fact, if you use the Chamber population as an example, it's much more populated by what I would call shopkeepers with a shopkeeper mentality than business owners with an entrepreneur mentality. And so they're— a higher ratio of them is going to suffer and not do well when the economy suffers and doesn't do well because they're totally dependent on it, not really on their own initiative, agility, effort, etc. They're just literally showing up. And so I think it sort of speaks to the, the character, the mindset, the, the kind of person who comes through Blazer Kennedy doors, certainly the kind of person who comes through those doors and then sticks around. And then secondly, hopefully it's something of a tribute to the fact that we do a good job on several levels. One, getting people focused on effective and productive personal behavior, responsibility for what's going on in their lives financially and otherwise, rather than dependence on the vagaries of external circumstances, as well as providing them with good tools, technique, skills, strategies, examples, and so forth so that they have a pretty good toolbox to use given their willingness to use it.

Well, you know, I'm glad that you went on to further explain that because I had a follow-up question which was about the tools, and you did add that in that not only is it behavioral, but it's also having the tools that you need in order to accomplish. Better results. But I do now have a follow-up question to that, which is, so if you had to weigh both of them, where would you put the greater weight? And is it possible to have one and not the other?

Well, it's, you know, it's not very self-serving, but I would put the weight on behavior. There are certainly people, I know some, you know some, just in general observation we can see them, who have very limited toolboxes, deficient toolboxes, and/or are in poor opportunities, who still do well. Almost entirely because of personal behavior. On the other hand, there are people equipped with great toolboxes who don't do well at all because they never open the box, they never use the tools, they never stick to the box long enough to get good at using the tools. So, you know, if I had to weight it, I'd weight it on behavior, but there's a, you There's an implicit catch-22 there, and there's an implicit closed loop there in that you can have all of the, you can have a lot of very successful behaviors and still suffer mightily if you really lack tools. But you can certainly have a big toolbox and suffer mightily. If you don't have the personal willingness to kind of get your act together and use it.

So, and again, I wasn't planning on discussing this today, but if nothing else, I'm personally more fascinated by this right now. But let's talk a second about personal behavior, because I think the tools part is a little bit more clear to people. Tools we mean by tools, but in terms of personal behavior, can you describe what you've observed? I mean, again, if we loop this back to the Renegade Millionaire marketing system, the basis of the Renegade Millionaire system are the commonalities of the most successful entrepreneurs that you've worked with. So can you describe some of the personal behaviors that you've seen of the most successful entrepreneurs you've worked with?

It's kind of interesting. I was just very early this morning before my call day started, I was working on a series of faxes for Diamond members having to do with this exact topic, and it was sparked actually by a couple of private coaching calls and conversations with coaching members. And one of the things that Anybody that does one-on-one coaching, so you'll identify immediately, that is both fascinating and frustrating, is having fundamentally the same Groundhog Day conversation with somebody over and over and over again, sometimes month after month, sometimes with a few months' distance in between, but then it returns almost verbatim. Before, and the conversations usually have to do with something that is clearly evident and undeniable that needs to be done in the person's business that the person themselves realizes and acknowledges and complains about and yet procrastinates endlessly about doing. That may be firing somebody, that may be hiring somebody, that may be changing some modus operandi, reconfiguring a product. You know, the list is diverse and long, but the behavior is the same. And it's very clear to me this year with everybody I'm coaching that you can put the two-thirds of them that are thriving, kicking ass, taking names, and happy, and the one-third who would not describe themselves that way, you can really divide them by how much of this kind of procrastination they're engaged in over things that are clearly evident that need to be done in the business. And the ones who endlessly procrastinate about them because these things are difficult or unpleasant or require some temporary effort that nobody wants to do, are inconvenient, you know, they are struggling in their businesses. They're not having the financial gains that they want, and they're personally frustrated. And, and it all ties to this behavior. The ones who, you know, are fortunately the majority, as you pointed out, generally with membership, the majority who are moving ahead in every respect and pretty happy with what's going on, and the calls are pleasant because it's mostly good news and what's next. They're pretty decisive in a sense. As soon as they determine something needs to be done, they're doing it as quickly as is humanly possible and managing whatever the consequences of doing it are. So I think that's a big one. I think more specific to marketing, I think the— probably the biggest differentiator are people who are willing to invest a lot and engineer their businesses so they can invest a lot in acquiring best quality customers from every possible source. Versus those who are scared and timid or cheap or both and trying to acquire customers only from a few cheapest sources. So the front end of the marketing process that feeds the whole machine is a big differentiation factor.

What about—— and I'm not saying this from trying to be self-serving, so members listening don't do that, link them together— but what about those people who also invest in their education on an ongoing basis? So— and this is why it's going to sound self-serving— but like, for example, you know, there's no question that albeit that our diamond members or are a much smaller percentage of the total Glacier County membership than gold. The diamond members, when you see them at our national events, they're more successful generally than our gold members. Other thing that's fascinating is when you see diamond members at our national events, as a percentage of people at the event, they are a much higher percentage than the percentage that they represent as a total percentage of Glacier County membership. So about 40% of the people at our national events are Diamond, and whereas 40% of Glacier County membership is not Diamond. So therefore they not only are investing more in more education in Diamond, but they're also attending seminars, etc. Then if you move up to like the next level up at Glacier County, the Platinum members, the Titanium, small group mastermind members, again, they're even yet more successful. So wouldn't you also agree that, and again, I just want to reiterate, I'm not trying to do that as a suggestion to make people spend more money with us, but wouldn't you also agree that those people that are constantly working on their education and more information and associating themselves with coaches and mentors and other winning people there, that that is a behavior of more successful folks?

I would agree, and I would put it in— I would put it in broader context. You know, one of the things that is different about real high-income earners— so if you go back to The Seven Figures Academy is that, is that real high-income earners use leverage as opposed to just essentially labor. And you can only get so far, you know, by doing, no matter how skilled you are at what it is that you do or how valuable what it is that you can do. And so the real high-income earners are all about leverage, and leverage requires something on which to put the fulcrum. And one of the key points of leverage is information. Aristotle Onassis, who at the time was one of the richest men in the world, and I believe was the richest man in the shipping and freight business industry. Onassis' great quote is, is that wealth has a great deal to do with knowing something hardly anybody else knows. And that really— you know, most secrets actually are visible. It's just most people don't bother to look for them, and when they do, they if they bumble across one, they don't necessarily recognize that it is valuable. So if you think now about how these things link together, so if you work backwards from exceptionally high income to leverage and then backwards from leverage to where you get leverage, and there's 5 or 6 places to get it, one of them is information.. And now if you work backwards from information, where are you going to get information? Most people get 90% of their information from personal experience, which is slow, painful, expensive. Quite often you run out of life before you get enough experience to be really smart. There's a Pennsylvania Dutch saying about that, too soon old, too late smart. And so the winners really are getting their information by collecting it and aggregating it from other people's experience. Of course, you can't be indiscriminate about that. And so now to be self-serving, you know, we're a pretty good place to do that because there's a lot of prescreening done before somebody's on our stage, before even somebody's in our room. And so, you know, the networking is valuable, the relationships are valuable, all of that is pretty valuable. But, you know, not just obviously association with us. I mean, most highly successful people tend to be in more than one formal associative relationship. They tend to have their own inner, inner circle of advisors. They tend to get a lot of information from what I call dead experts, meaning historical information. They tend to read a lot. I mean, I can usually tell, I mean, I used to be able to predict when we were doing preview seminars years ago, you could tell who was going to have the best car in the parking lot based on who was the first person in the back of the room to buy. And you could tell who was driving a junker by who was the last person to ever get to the back of the room, then have 86 questions before they would buy, and then finally not buy and need to go home and think it over. And 90% of the time I was right. If you followed them out to the parking lot and took a look at what they were getting into, the predictive behavior was pretty accurate. I think the same thing is true, you know, Rohn's line, poor people have big TVs, rich people have big libraries. I think it's very true. I think people who are immersed in acquisition who are sifting, sorting, processing, organizing, and using information make more money because of the links that I described.

And so now I do want to move to a little bit more tactical stuff, but, and again, I didn't plan on having that conversation, but I thought that was maybe even more valuable than going into the tactical stuff. But now, Switching over to more tactical stuff, on page 57 of the Renegade Millionaire Desk Reference and Action Guide, you have there Renegade Millionaire money responsibilities, and you have 5 of them listed. One of them is make money. Second is liberate money. Third is invest, multiply money. Fourth is protect money, and the fifth is give money wisely. I want to just start right off with number 1, which is make money, which is in many ways just sort of like a duh, make money. It's kind of like I remember in the price strategies full-day bonus day that we did at, I think it was a super conference a couple of years ago. It was like 10 price strategies and the first one was raise your prices. So this one is make money.

—Well, make money, I mean, yeah, look, certainly on its surface it's, you know, obvious, and everybody understands it 'cause everybody does it. I mean, the poorest person on the planet does it. You know, unless they are chronically, permanently, lifetime, entirely unemployed. But fortunately, that's only about 10% of the population. So, you know, the ditch digger makes money, the clerk at the convenience store makes money, The kid who cuts grass makes money. The accountant makes money. The doctor makes money. The lawyer makes money. And in most of those cases, you know, what we're really talking about is hours for dollars, exchange of labor or labor plus expertise for money. And so everybody kind of understands that one and everybody gets that one. 95% of the people stop there., and they never get beyond that one. That one's pretty much essential to all the others, but just about everybody stops there. And even business people who are more sophisticated still tend to disproportionately invest their attention, education, time, energy, focus on that one. You know, if you ask somebody in business, how was your weekend, how was your week, how was your month, how's your year going, the answers they're going to give you mostly have to do with this first item on the list, not with the others. And, and that really tells you where their focus is.

So, so the next one is liberate money. And actually, on page 58, and because I know most of the people that are listening to this, they could go back to the Renegade Millionaire System, most of them already own it, and they could go back here to this call or when they get the recordings of it, get the manual in front of them. But on page 58 of the manual that comes with it, it talks about liberate money and it says ordinary entrepreneurs often have well over 50% to as much as 100% of their wealth locked up inside their own business, which kind of supports your point about most people just stop at number one, which is make money, you know. And then it goes on to say renegade millionaires systematically, constantly, and consistently extract money from their businesses. So, important point, but does that then, Dan, immediately loop over to once you extract that to invest, multiply money? Are those two linked together?

Well, yeah, look, the better a job you do, so to be tactical and simplistic, Right? The more valuable we make each customer, if you want to, the more valuable we make each transaction, the more valuable we make each customer, the more valuable we make each product, the more valuable we make each staff person, etc., etc. Two things are available to us, right? More money to reinvest in the business itself, in growth, in, in, in being willing to invest more to acquire more and better customers, or in expansion through diversification, multiplication, etc. And the more money there is to take off the table, to take out of the business without harming the business, in order now to turn around and do other things outside of the business. And how you apportion, you know, which of those things you do more of at any one given time has a lot to do with maturity of the business, your own age, your own interests, your own goals, etc. But because most business owners leave more money imprisoned in the business than they take out by not very effectively managing every one of those things I just said. How can we squeeze all the juice out of every transaction? How can we squeeze all the juice out of every customer? Squeeze all the juice out of every promotion? Squeeze all the juice out of every staff person? Because they leave more money imprisoned than they extract, they're usually severely handicapped in how much money they have to grow the business, and they often, because they think about all of the other things on the list as being done with money that's left over, they often never have any money left over, and so using a sequential process, they never get to those other things. And so, I mean, you can have two businesses that have fundamentally the same number of customers, and the same number of customers who go through their doors in a year's time, and one of them, that customer's worth $50, and to the other one, the same customer's worth $500. And it doesn't necessarily have anything to do with the customer. It has everything to do with everything they're doing to maximize the value of that customer. If you want a very specific example, so I just very recently had a power wash company come out and power wash the house and the driveway and the deck and the windows and, you know, anything outside that could be power washed. And initially I was pretty impressed with these guys because their trucks— they were doing a neighbor's place— so the trucks, good signage, staff kind of dressed professionally. When you inquire, the guy's got a good form. The guy that comes out and does the quotes, really good paperwork. Somebody wrote really good copy because the order form and the price list and the stuff you saw, all that's very well done, all right? And with a couple of glitches, basically they did a pretty good job, all right? But they've stopped there. The only sort of half-assed attempt at referrals is in the envelope with the copy of your invoice is a form to put referral names and addresses on and send it back for no good reason other than the fact that they did a good job. The techs make no attempt to get referrals. Nobody has followed up to get referrals. Nobody has followed up to sell anything else. Nobody has attempted to pre-sign me up for having this done every spring instead of every few years, and having it done every spring without having to think about it and remember who the hell did it and find them, sign me up and bill and charge me every month instead of once a year, so the $860 is painless, etc., etc., etc. We could do two calls on everything that should be and could be done with me by this company to monetize me. That now the story's three weeks old, so ample time has passed. Um, in another three weeks I won't remember who the hell they are. Um, and so they're going to get $800 out of me, and that's all they're going to get.. And if they did everything right and they did everything that could be done, there might be $3,000, $2,000, some number like that to get out of me, future revenue locked in place, and in referrals now maybe a multiple of that. So if you think about that now applied to any businesses every customer. We haven't even talked about now what do you do with every employee, what do you do with every job function, what do you do with every lead, what do you do with— you know, I have a client right now I'm working with, they generate 18,000 leads a month who they actually have face-to-face contact with. They sell to fewer than 500. Now they're making a ton of money. But if my math's right, that's $17,500 that are left over. And guess what they're doing with them? Nothing. Nothing. Now, there's more money in the $17,500 than there is in the $500. I promise you there is. And furthermore, you could take that money and turn around and use it to get more or to get better, or take it off the table and put it somewhere else. So most business people— and the boom years allowed for this a lot, you know, it was never smart but it was affordable to be sloppy. In some cases now it's not affordable to be sloppy, and people who don't know how not to be sloppy are puzzled and befuddled by it. But I mean, if you look at this power wash example and you think about every way that this satisfied customer could and should be turned into more money. That hasn't happened. It's shameful and sad, but it is commonplace.

So going back to the list of the Renegade Millionaire money responsibilities, we talked about making money, liberating money, and then investing, multiplying money. And the fourth item on the list is protect money. And, um, so first of all, what, what do you mean by that? Because, you know, you know, as far as invest, multiply money, um, that is almost counterintuitive to protect money when somebody would just read that.

So what is your— what do you— what is your implication there? Well, I mean, there's— there's the things that probably leap to people's mind, right? So there's sort of the insurance, proper paperwork, good contracts, knowledge that, you know, few relationships go the distance, be they business, marital, whatever. You know, if Mr. Schwarzenegger doesn't have a really good prenup, he's got big problems. He's got big problems anyway, but he's got bigger problems if he doesn't have a really good prenup.

Well, I did see he just signed a couple of new movie deals, so maybe that will help him out.

Yeah, like one of them he's getting $12 million for, and this divorce is going to cost him $250 million easy. Ah, well, it's a start. He's going to be doing Terminator 408 if he's not careful. But so, you know, there's that stuff. There's the more marketing business-oriented protections. There's how do you protect your brand, your reputation, your position, your prominence in the marketplace? How do you protect the equity in your customers, the relationship with your customers? How do you protect profit, profit margin? Price integrity and profitability, all of which is, you know, a big topic of discussion in the No BS Price Book. You know, it's not just about setting and presenting price. It's about how you protect your ability to price the way you want to price and thereby protect profit and protect profit margin. Gary Halbert used to say that, you know, he'd stack up his ability to make money with just about anybody, but his ability to keep any of it was ranked somewhere below a pig and a goat. And a lot of people are that way. There's a term in the financial world called high income underinvested. Which is what I was for the entire first decade of my working life. Made a lot of money, kept none of it. And a lot of businesses are the same way in the sense that there's a lot of money coming in, there's some money left over, but there's no real strategies to protect the ability of that business to always produce money, which again gets to the equity in the customer and the customer relationship, the equity and the position in the marketplace, the invention and reinvention ahead of things becoming obsolete, developing real high-quality staff, you know, all those things fall under the safeguarding of both money already made and the ability to continue to make money. Which if you want to be self-serving for a second, loops all the way back to always improving your personal value as well as the business value based on what you know. Because if you at any time essentially stop and begin to rely on only what has gotten you to the dance so far, it's only a matter of time before you're out the back door of the dance.

So I want to just talk about the fifth item on the list, and then I got a few other things I do want to cover on this topic before we open up the Q&A. But the fifth item on the list is give money wisely. And I've heard you talk about this before, and for the benefit of all of our Diamond members, would you please tell everybody what you mean by that?

Well, there's a, there's a somewhat of a brief discussion of the principle in the Wealth book, but the shortest, the shortest summation is a quote from Dr. Edward Kramer, which is, the hole that you give through is the hole that you receive through. And so there's not a good mathematical explanation for this. Because it defies high school math. But yeah, so there's a whole host of psychological reasons for this, and arguably there's some metaphysical reasons for this. There are also practical reasons for this. But being actively engaged in both charitable giving and giving of assistance to others when often it's no skin off your nose, but you have the ability to make a phone call or be of influence or be of assistance to someone. Both of these kinds of giving are beneficial. They're profitable. They return more than they cost with the caveat of giving wisely. And so by that I mean not giving indiscriminately, not giving out of guilt, obligation, or pressure, giving in attempting to help people who do nothing to help themselves, but giving intelligently. And there's nothing wrong with giving with forethought about how this can also be strategic and beneficial. You know, you will often see people publicly criticized, for example, because they incorporated or integrated charitable support or charitable giving into some sort of advertising marketing or business program or event, and they'll actually be criticized for that., and it's stupid criticism. A, if somebody benefits, somebody benefits, and if it can be done in a way that it also benefits the giver, there's no harm in that, and it facilitates more giving. So there's sort of strategic, purposeful, There's business interwoven giving. There's charitable giving. There's giving of influence and assistance. And all of it's productive and all of it's profitable if it's done intelligently.

So with that said, Dan, question for you, and this relates to this whole topic of making money. So if, and I'm not wishing this on you at all, but if all of a sudden Um, the— somebody came along and the government came along and, and scooped up all your assets, everything you got, okay?

And now you were left penniless with nothing.

They're having meetings about how to do that in Washington as we speak. The truth be told, they've been working on this for a while right now, and, and unfortunately they've been more successful than we have at stopping it. But, but, but putting that aside, so if they— I'm going to make make it harder on you. So they not only scoop up all of your assets, but they took your customer list. So you don't have a customer list anymore. Okay, what would you do in order to get returned back to where you were before?

It's interesting because variations of this question, as you probably know, show up on new member questionnaires, and you know, they get asked all the time.— and most of them are not smart enough actually to take away the customer list, which makes the answer somewhat easy. But first of all, you would always return to sort of marketing 101, so, you know, market, message, media.. And so, you know, a big question is who is there who can give me money? And secondarily, I suppose, in the scenario that you post, I would at least as a stepping stone, I would be very quickly, since you have deprived me of my customers, I would be looking for someone else's. And because of what we talked about earlier, which is that most entrepreneurs and business owners really do a very poor job of maximizing the value, extracting the value, monetizing the value of their customers. Most customers are waiting to buy more, do more, respond more. Than they're being asked to do. So I would be looking for a way to take what I know how to do, what deliverables I could provide, and run them at someone's already organized and put-together customers rather than thinking about how do I start over from scratch and go out and get a customer. You know, one at a time, which as you very well know, and it goes back to retail, I mean, in most businesses, the most difficult, the most time-consuming, and the most expensive thing in the world to do is rounding up that herd of good customers. And in almost every instance, somebody's already got, you know, a bunch of them. That are ideal for you, that it's not in your way. You know, so one of my earlier in the day private coaching calls, I have a client who's in the gym and fitness and fitness trainer industry and selling at price points from $500 a month to $5,000 a month business programs in that industry.. And we were talking about where his clients are coming from. And over 30% of them are coming from 3 affiliates, 3 joint venture arrangements he has with somebody, with 3 different companies that feed him their customers at a certain point for which he happily pays them well, but only once he has a customer, which is the opposite of buying advertising, which essentially you buy in advance in hopes of getting a customer. And if you're starting over, and in your scenario they have confiscated everything, you may not be in a position to do that. So, you know, we talk in the Renegade Millionaire system, there's a, you know, there's, there's money capital, there's other people's money, and there's other people's customers. And usually OPC or other people's customers is a much better form of capital than is actual capital. So, you know, I would be looking for who has organized customers already for me that I can tap into efficiently and quickly. You know, the fortune that you have hypothesized being taken away from me, which is not a happy thought, but is largely based on having done that repetitively and in different ways since the beginning. I mean, when you, like I, made a lot of money over a number of years with one tiny little niche essentially 4,000 members of a trade association. So the association is really the aggregator of the customer already there and waiting in place. My 9 years of speaking on the Success Tour in every city, he's— they're going in and spending $1 million or more to, out of 400,000 people in the city, find the 11,000 who are ideal customers for me and put them in one place and let me have a whack at them. Well, that's enormously valuable. And whether on a national scale or a local scale, I mean, that always exists for just about anybody and everybody in just about any business.

So that's the best answer I've got for you. Well, you know, as sort of a follow-up to that, So my— for all of our members know, my background was menswear retail and in that business for way too long and also became the marketing guru, if you would, to the menswear retail industry providing a sort of a version of magnetic marketing to that industry. And so I had a lot of contacts there, knew a lot of people there, and today that industry is just a shadow of what it was before. I've often asked myself the question of if I was still in that industry today, would I still survive? Although I do think I would, because I do think I would know what I would do now today in that industry, which almost nobody is doing in order to survive. But the biggest thing that I get, Dan, when I talk to the people that are still remaining in that industry, the few that are still there that I know, is the number one question I get from them is, Bill, how do I get out? That's what they're asking me. And it's interesting because where I originally go to is a place that you actually alluded to in your answer. Was I look at, well, what is the skills that you got that we can translate to someplace else?

What is the transferable skills?

So are they terrific at sales? Are they really smart at internet marketing? What, you know, what have they got that is translatable? And I think that the important thing about that is like, you know, where you went to is number one is you figured out, but first place you look at is who, you know, who's got other people's customers Where can I get that? But then you also added to that is then adding the skills that I've developed. So like in your particular case, unbelievable direct response copywriter is a skill that can be applied to any business at all. Great speaker from the stage, skill that can be provided almost in any niche at all. What? You're about out. Well, you know, marketing strategist? I mean, I'm not out yet. I can fuck up more. Brilliant marketing strategist, which is oftentimes seeing the opportunities nobody else sees. Great skill to move from one industry to the next and could be moved from one industry to the next. You know, people often said to me, have said to me, Dan, since we've facilitated our investors in Glaser Kennedy, they said to me, Bill, what happens if you don't like it? You know, what are you going to do? And, you know, I've never worried about that because I just knew that I could translate my skills anywhere I wanted to go. And I think it's a really important lesson for everybody, and certainly our Diamond members on this call, is that the people that are really at making money at will, they have this kind of sense, the fact that, you know, that they can just move their skills from one place to the next because the skills is the real equity piece. It's not necessarily the industry that you are in. So I mean, it's a point that I want to make to everybody. I will— I do want to spend a moment then and talk about something with you that we both agreed before the call is maybe a bit comical, which is I talked about the fact that we're going to talk about making money on this call, but also still having time to enjoy life. Frankly, it's comical because I don't know if you and I are qualified to talk about that or not. But at the same time, I do think that I do have some things to chime in there about that. But I'm going to start off with you about making sure that you have time to enjoy life. What is the Dan Kennedy philosophy on that?

And/or strategy to accomplish that? Well, I'll give you the biggest strategy, but I'll give you something else quick first. I got actually— and I forget his name, I got it somewhere— but a Diamond member sent me a fax the other day, and I forget now what it was prompted by too, but he said that his vision of hell is that most people in hell will be required to read and study endlessly, because that's the one thing they refuse to do in life. But that people like you and I will just be required to be on vacation. Um, here's, here's the biggest closed loop, I think. I think that, um, creating really good income and from it some level of wealth allows you to be very time efficient in getting your time off and your recreation or your personal enjoyment. Whereas actually the poorer you are, the less time efficient all that is, and therefore the harder it is to do. And so you begin by buying time before you can really afford to buy time because that's how you become more and more successful. So you have the ability to buy time. But it's so like, for example, I mean, you know, Carl and I were in Florida over the weekend. We went to the D23 event at Disney. And I mean, that's pretty cool, which, by the way, is something everybody ought to see at least once or twice. Yeah, but nobody's going to know what that means. So D23 is the adult fan club. I mean, it's a— see, it's the serious Disney fan club. And this is the smaller of the two annual events. There's about 1,200 people there. And essentially it looks like a Glazer-Kennedy superconference, except that it's a fan meeting. And so, but, you know, we, we We flew there Friday and had the entire day Friday, Friday evening, the entire day Saturday, Saturday evening, the entire day Sunday, and Sunday evening. And I worked for 3 hours on Friday morning before we left, and I was back at work at noon on Monday doing what I needed to be done, and then still was able to race on Monday night because we fly private.. If you flew commercial, you either have cheated the vacation time or you've really blown a day on either side of that just moving around. Because I'm able to force clients to come to me and meet with them at my home and organize my life in that way, I can do a full day of consulting, which ends at 4 o'clock every day. I can get an hour's rest. I can eat dinner. And because I'm 8 minutes from the racetrack, I can be there doing what I want to do that evening. If I had to go to the client's place of business to do my consulting and I had to fly commercial, it would take me a day to get there, a day to do the consulting, a day to get back, and I'd miss up to 3 nights of racing. So, you know, your ability to do these non-business, non-work things in a first-class manner and in a way that is extremely time efficient and still allows you to be productive and to really put in a lot of time on your business if you want to do that too. Survey. It's— I think I have it in the Affluent letter this month or next month, but the most recent Pew research, it will actually be no surprise to anybody except poor people, but the people most likely to be working 60 hours a week are people who earn $1 million a year or more. The next most likely people to be working 60 hours a week are people who earn 6-figure incomes. The least likely to be working 60 hours a week are people who have very low incomes. And— but you can work 60 hours a week and still have a lot of time off if you're able to be very, very efficient with both of those things, not only your work but your time off. So that's the number one strategy I got. And you know, it gets into a topic that was discussed at the Superconference of Autonomy. It gets into time management.

It gets into the willingness and ability to buy time in various and sundry ways. Thank you for listening to the Magnetic Marketing Podcast with Dan Kennedy. If you love hearing in on these lost Dan Kennedy talks and speeches and calls, then please let someone else know about this podcast. That's how you can help it to grow. And the more it grows, the more free Dan Kennedy we can bring to you. Also, Dan would love to give you the most incredible free gift ever designed to help you make maximum money in minimum time. Now this free gift comes with almost $20,000 in pure money-making information for free. Just for saying maybe. You can get this gift from Dan right now at noBSletter.com. Not only do you get the $20,000, $20,000 gift, you also need a subscription to 2 marketing newsletters that will be hand-delivered by the mailman to your mailbox each and every month. One from Dan Kennedy and one from me, Russell Brunson.

To get this gift and your subscription, go to NoBSLetter.com right now.