The Latte Factor: Why You Don’t Have To Be Rich To Live Rich with David Bach, Joe Polish and Dean Jackson - I Love Marketing Episode #347

You have to make a decision to be financially selfish and in the book it's called pay yourself first and it's learning how to stand up for your earnings and put yourself first.

I'm Dean Jackson, he's Joe Polish and.

This is the I Love Marketing podcast.

David Bach is a nine time New York Times bestselling author and considered one of the leading financial experts in America. David is a co founder of one of the fastest growing IRAs in America, AE Wealth Management, with over $6 billion in assets on its platform and he has 7 million books out translated into 19 languages. David's new book is totally different than anything he's written before. In fact, here's what Joe Polish said about David's new book. In less than an hour the Latte Factor can help you take control of your money and your life. Whether you're just starting out in business or you're an employee or mid career or in debt or just want to live the life you've always dreamed of, the Latte Factor can help you gain financial success, freedom and security. In this interview, David talks about the Latte factor and how it can positively transform your relationship with money forever. Don't miss another episode of I Love Marketing. Subscribe today. More information can be found@ilovemarketing.com subscribe if you'd like to learn more about the Genius Network annual event, go to geniusnetworkevents.com if you'd like to access the show notes or the exercise to help you take action on what was discussed, please visit ilovemarketing.com 347.

Hey everybody, it's Dean Jackson and it's Joe Polish.

And we have got a very special guest who's a good friend of ours, a guy by the name of David Bach. How are you doing David?

First of all, how can I not be good? I'm here back with the two of you guys. So thank you so much for being willing to do the podcast and it's good to be with you.

Let me just give everyone David's Bye. I've got a few notes here, they're kind of scattered around. I'll do my best to kind of improv and read a little bit just to piece it all together. We've got our buddy David Bak here. He's a nine time New York Times best selling author. So nine New York Times best sellers nine times. David, you're considered one of the leading financial experts in America. You are a co founder of one of the fastest growing RIAs in America, AE Wealth Management, which has over, I believe, 6 billion in assets on its platform right now. David, we've known each other for over two decades and I interviewed you many, many years before when you launched the Automatic Millionaire, which is a great book. And now what we're going to talk about today and the reason we're doing this is this is your 13th book and you've got 7 million books out translated into 19 different languages. And this book, which we'll mention in a moment, is totally different than anything you've written before. And the feedback is truly off the charts. And even before we started recording this podcast, both Dean and I were talking about the book because both of us have read it. I've even given what I think is I'll read my testimony actually. So I wrote to you in less than an hour. The Latte Factor can help you take control of your money and your life. The book is called the Latte Factor. Whether you're just starting out in business or an employee in mid career or in debt, or you just want to live the life you've always dreamed of, the Latte Factor can help you gain financial success, freedom and security. That's the testimonial that I gave you from the book, but there's also some other ones. Let me share a couple of inc said this 2019 book will completely transform your relationship with money and happiness. Our buddy Tony Robbins said David Bach is the one expert to turn to when you're intimidated by your finances. His powerful and easy to use program will show you how to spend, save and invest your money to afford your dreams. Vicki Robin, who's considered to be the Millennial Whisperer, said, sometimes a story is worth 10,000 pieces of unheeded advice. Let this lovely tale laced with practical wisdom inspire you to make a few elegantly simple changes without budgeting to build the wealth for a life you love. And there's dozens and dozens of these. You've gotten all kinds of like really respected people that have read the book and have given feedback. So are you surprised by all the early feedback on this or what are your thoughts on it?

It's funny, I just told somebody this story. My wife just walked by me a second ago. I didn't let her read the book until it was completely finished and she's would be my most critical audience, right? And I gave her the book and when she was done reading it, she had tears in her eyes and I was like, oh, that's a good sign. And then, you know, and then I said, believe it or not, the Next few people got to see was my mom and my dad. My parents have read every single book office they've ever written. And they both called me on a landline together, and they were like, this is the best book you've ever written. So that alone made me go like, okay, the work has worked, right? Because, you know, the people I love the most, it's had an impact on them. Now, as the book's going out into the world, and it's one thing to send it to your friends like you're a friend of mine, right? And so you read it, but then you were immediately blown away by it. That's the coolest thing ever. And then as I'm sending it out to readers and the feedback starting to hit, because we've got 700 people a week ago, we started basically our bestseller campaign, right? And part of the bestseller campaign, the most important part of it, is getting your tribe involved, right? So we created this insider VIP launch campaign. And I was just telling you before we started, I've got 720 people from my email list, from my community that have signed up, bought a book, and they're now a part of our insider group. So they're getting the first look at the book before the book comes out. And so there's a website. Website. There's a Facebook page. We've got a community page on Facebook. The comments that have been posted in the last three days since they got to read the book early are just unbelievable. So that's giving me, like, so much confidence. I'm just so excited to see that the book is touching people the way I wanted it to, because I had a really big dream with this little book, which I've been wanting to write this book, Joe, for 14 years, ever since I was on Oprah with the automatic millionaire. I kept bringing this book to my publisher, this idea for this book, and they kept passing. They didn't want me to do. This is a parable. They didn't want to. They didn't want a little storybook. And I love books or storybooks. Like, my life was moved by reading simple books like who Moved My Cheese? Right? That's a book that sold 28 million copies. I'm like, why hasn't anybody written a financial book that's like that? And my book was moved by the Alchemist by Paulo Coelho. So I had this dream to write this little book that people who wouldn't normally read a financial book, that's who I wanted to reach. And I want to reach with this book. The Next generation, like millennials, and there's 77 million of them. I want to be able to be a force of good to help younger people start saving and investing. And so I had this dream, like, what if I write this little book that transit all over the world? And the first person I really told the stream to in a really big way, believe it or not, you guys, was Paulo Coelho. So I went to Geneva and had dinner with Paulo and had lots and lots of wine and with our buddy Brendan Burchard. You know, about three in the morning, Paulo turned to me and he said, well, David, what is the book that your heart, your soul wants to write that you have not written yet? Like, only Paulo could say that your soul wants to write. And I was like, oh, Paulo, this is what it is. I started telling it to him, basically laying out with the latte factory. And he said it looked at me and he said, then, David, you must write that book. And I came home from Geneva and I said to my wife, how is seeing Paul? I'm like, oh, my God, it was the most amazing experience of my life. And I said, I told him about the latte factory. She goes, what do you say? He told me I should write the book. And she's like, well, I've been telling you to write that book for 10 years. Why don't you go write?

All of a sudden, now Paulo says it, and there you go, your new boyfriend. That's right.

So, you know, I actually dedicated the book to Paulo, and I just. I'm hopefully I still haven't had. I'm hoping it's going to get put in front of him from his assistant Monica. But I'm super excited to put this into the world and see what happens. I think it's going to be a little book that will really transform people's lives because it's a story and it's simple to get through, and you can read it.

Well, I can tell you that it is.

It's magical. I mean, that's the. You know, there's. The essence of it is that the story is effortless to read. You cannot not continue reading it. You keep going and you've packed it with such wisdom that it's like getting in in the form of this really effortless story to read. I can't wait till we're done so I could finish. I've got like 40 pages left to go, and I just can't wait to.

Finish it up since I love marketing, really has a lot of people that want to learn how to better market stuff, you have learned a tremendous amount. Very few people have had as many best selling books as you have, or sold 7 million books or been on Oprah multiple times and tons of media and all this stuff which is all about you going out and telling the story. They call them best selling books because you actually sell them. There's a lot of really well written books, but they don't have the best written award, they're the best seller. But in this particular case, I consider this a really great book, really well written. And even before this, I sent over, I have a PDF version of your book that you sent me, of course, a while back, and I sent you all of my notes and all the highlights and everything throughout it. Before we dig into the book, I want to talk about the marketing of the book. Because you're arguably one of the best marketers we've ever seen in the financial space, nonfiction for that matter. And you've got 11 national best sellers, nine consecutive New York Times bestsellers. A lot of people listening to this would love to, to know, like, how does one do that? I mean, there's no single answer to it. But I'd love to speak to that before we kind of get into the book.

Yeah, well, I mean, I would love to. And one thing I would say to marketers is actually go through the funnel. Go to thelattefactor.com and that website. All I can tell you is that hundreds of hours have gone in, thousands of hours of knowledge have gone into this website, but hundreds of hours of actual work went into this website. And this website is the beginning of our funnel. So as a marketer, there's always a beginning stage. And the beginning stage is it's all about activating your tribe. We have like a 22 point marketing plan. It's even longer than that. But like in the beginning stage of the marketing plan, the key is to activate your tribe. That's the Seth Godin phrase, right? Like your core fans, you gotta activate them. Because I'm trying to do more than have a best selling book. I'm trying to create a movie. The key is why you write books, in my opinion, and I write books to make a small dent in the world. I'm like, my north star is I want to impact millions of people. So my purpose with this book, super crystal clear. I want to have a massive influence over 77 million millennials, and inspire millions of millennials who may not have hope right now to realize that they are richer than they think, that they are, stronger than they know and that their dreams can still come true. I think we have to help this generation overcome a lot of obstacles that have been put in their place. And so I am super clear about why I am doing my work and I think that that's really important. I'm not doing my work to have another bestselling book. So from that clear purpose comes the marketing plan. And as I go back to like stage one, going through the funnel, if you go to the lattefactor.com and you can still go through the funnel, you can actually see how we activate our tribe. So we had a campaign where we started with, right now there's 720 people that we have identified as like, you're a core fan. And what we did in the marketing is we said we're not looking to just have you join us to buy a book. I'm going to spend the next two months with you, take you through the book, put it in your hands before the public, teach you more about money. So I can help you. But I'm looking for people to join us who want to help other people. So first I'm going to dedicate my time and energy and effort to helping you. But I want you to join me if you'll go out and then share this message with other people that you love. So by doing that, I've pre framed it, I've qualified these people and as they're joining in this movement now, there's already that kind of energy, right? Like in the Facebook page, our private member group, you hear people already going, oh my God, I've read this book. It's amazing. I can't wait to share this with people I love. And I've actually already done the math. I'm like, look, there's 700 of you in here and you all know 100 people. If you go share this with a hundred people, I'm going to touch 70,000 people. Today this book comes out. That's the best form of marketing the world is a friend telling you, yes, you need to go try this, right? Like, you need to go read this book, you need to go to this restaurant, you need to go into this coaching program, you need to go to this seminar. The best form of marketing is your best friend telling you, I did this. I loved it. It can help you. That's the central part of our first part of our campaign.

So the whole going back to activating your tribe for someone that is listening out there and for someone that has written so many books and has done things really well and has done things really wrong and has definitely put his time in. How many years ago was it when you wrote your first book?

Well, Smart Women Finish Rich came out the end of 1998. That book just came out for its 20 year anniversary edition. That was the first book which I worked on the idea of Strategic Coach. And when you and I met Strategic Coach, that book didn't even exist. That was an idea that I worked on in the Tony Robbins seminar and then on worksheets and Strategic Coach with Dan. So that's been 20 years ago. And yeah, I mean, I'm cutting you off, but what was the question you're going to ask me?

No, no.

Well, the question is what would you have told your younger self back then about what you wish you known? I mean, you also in the interview at the end of the book where you talk about your grandma, which I would actually like to ask you about that even before we dig into the content, your grandma Rose is that it took you a while to even leave your job, like three or four years. But you had this motivation and you finally, you just went and lived out your sort of dream and you did it in the form of books and educating people that way. But a lot of people have this idea of write a book and, and all that. But there's a lot more to it if you want to ever turn it into money and if you ever want to really have impact. And so what advice would you have given yourself early on knowing what you know now?

If I had known how hard this was going to be, I don't know that I would have done it. I mean, it's still like, it's still hard, right? I mean you and I were just talking about our day before this call, right? So like I had like a 10 hour day already of nonstop from TV, from videos for six hours to multiple podcasts. Us being here like I'm still working is harder, harder than I've ever worked. But I'm lucky because my passion is as high as it's ever been. So easier things are for me to tell you, like what we did, that is work that we keep doing. So it's been clear on what my purpose is. But then there's all types of things you need to help you make that purpose real. So partnerships, a huge part of my ability to have a massive platform has always been partners. And we've had partners from financial service companies to media companies where because we're going out with a cause related marketing today, that's a big phrase, cause related marketing or Purpose marketing. But I've been doing cause related marketing for over two decades, right? So my first cause was women and money. I found partners that cared about the same exact issue, that had the same exact customers, that basically came alongside with me and then worked on my thing together. Right. Today, I'm super clear on, like, we're trying to reach 77 million millennials. So there happens to be a whole bunch of companies and media players that want to be reaching Millennials. So we're partnering with those players, right? Like, CNBC has got a huge initiative around Millennials. And you'll see me hopefully all over the place on CNBC. I've done 38 videos and shows with CNBC in the last 12 months because they have a whole channel that's millennial focused. So I position myself as a thought leader with Millennials. And we have multiple partnerships, and every partnership that we have is going to help us spread the message because they know what we're focused on, and they're focused on the same thing. They want to be aligned with us. I'll even give you an example of a crazy partnership. This book starts in the Oculus. If you don't know what the Oculus is, it's basically that it's right next door to the Freedom Tower. It's like a four and a half billion dollar. It's above the subway station, which is now the largest subway station in Manhattan. So the story starts with Zoe Daniels, and she's 27 years old and she lives in Brooklyn. She's been working in Manhattan for six years. She's been living paycheck to paycheck. She's got her dream job in Travel magazine. She's an editor of a travel magazine, but she doesn't have a passport and she works so much, she never travels. And so she walks through the Oculus and she sees this LCD screen that is a football field log. It's one of the largest LCD screens in the world. And she sees on the LCD screen the words, if you don't know where you're going, you might not like where you end up. Well, that's the beginning scene of this book, which is almost like a movie, right? It could be a movie. So she comes up to the 911 memorial, and she has this moment where she sits down in front of the memorial and she starts asking herself the question, where is she going with her life? And that question, as the reader, you ask yourself, where am I going with my life? Well, we reached out to the developer of the Oculus. It's Westfield One of the largest developers in the world. And we said, we're launching this book and the story starts inside the Oculus. Let's partner together. Let's have an event at the Oculus and let's do a book signing event at the Oculus. Well, you know what? We are doing that on May 9th. We're gonna be. The book comes out May 7th. On May 9th, we're gonna have a book signing event inside the Oculus. And Westfield, isn't that amazing? We're not even. I should be careful. I say we're not having to pay for that. They're going to take that LCD screen and they're going to put the COVID down this football field link inside the Oculus. We're going to have this book signing event. I'm going to give out like a thousand books and sign them, and then we're going to get the media come, right? So like, I talked to CNBC today, I talked to Yahoo Finance. I'm like, guys doing this huge event come down to it. So those are examples of partnerships, right? Major developer, major media companies. And again, it's like this higher purpose and calling and people go, oh, my God, how did he pull this off? Well, believe me, every single aspect of everything I just told you is an enormous amount of work to pull it off. But it's cool, it's exciting, and it's fun. I love it.

Yeah, that is such a really great idea for people to actually, first off, thinking about partnerships, but who you can identify with a cause or a purpose and niche, which really, in a lot of ways is similar to the a profit activators that me and Dean talk about on I Love marketing, which is the very first one is what Dean, select a single target marketing it.

That's exactly right. You've nailed it right on the head with this whole, like, you know, if your audience is millennials, this is exactly what they need to hear. It's exactly the life experience that they're having collectively. You know, Zoe's got exactly the concerns and things of a millennial. It's so. Yeah, it's. It's amazing. It really is.

And by the way, the other thing is, we've also done this in a way in which I want baby boomers to buy this book, too. I want them to buy the book to give to their younger kids. Of course. So there's a baby boomer element in the book. And we're also marketing to baby boomers and we're saying to baby boomers, like, you know what, you know Your kids need to be doing a better job with their money, but they're never going to listen to you. Right. Just go buy this book and give it to them as a gift, and then hopefully they'll read it and then they won't need to suck off you anymore.

Yeah.

Coming at this from a barbell approach, we're actually hitting both sides of the marketplace. And also even tackled the issue of, like, what if I do read this in my 50s or my 60s and I feel like it's too late? So we even address that issue in the book. So, I mean, we've got lots of partnerships, and also we're coming at this from so many different angles. Like, of course, we're doing lots of podcasts, and of course I'm going to do all the television. And, you know, it takes a village and a team to pull this stuff off. I'm not sitting there by myself doing this. And I think the one thing I would tell you, like, I've always invested really big time in these book launches and these platforms. I have a digital marketing team that we've hired that's really good at doing digital marketing, because I'm not a digital marketing expert. I have a PR firm. I have a manager of the launch team. Just the Facebook side of it. I mean, there must be 50 people that we've engaged. These are freelance people.

Right.

These are all different companies that we've hired. And then I have a person who's been hired just to manage all the different people who we brought on board. We always have a ground tour. A ground tour, meaning I always go out and touch people face to face, live, because that's a huge part of this. And so I still go old school. We're gonna go to. I'm gonna go to a dozen cities between the week before the book comes out, all the way through the middle of June. And I'll be doing events with 5001-000200-03000, maybe up to 5000 people in a room. And those people all hear me live. They'll all get books. So you go back to media online, live events, 12 cities, media in those cities. All those cities are being heavily promoted by other people. So I'm going in and doing events with other financial advisors who are bringing me into the city. And then in some cases, those advisors are partnering with the university or they're partnering with a church. Like, we have an event we're going to do with the church. I think we're going to five. Church has 5,000 people. So there's all these other people who are out sharing the message. Again, it takes a team. It takes a village. I think the way we've been able to get people engaged in this, because it's about a bigger purpose, right? Like, everybody who's bringing me into their markets, they're bringing me in their markets because they care about this issue of helping their clients, kids learn how to be smarter with money. They want to make a difference in their community. Like, they care about the cause the way I care about the cause.

Yeah, no, I mean, that's a really important point. I really like that. I mean, if you can, even all the stuff that I've done back the day with Bill Phillips and the fitness thing, tying things into even the Make a Wish foundation, donating money to get people to not even feel, but to truly be contributing to something beyond themselves. There's all kinds of ways that you can package that. But the more that you want to be, you know, identify who you want to be a hero to and then take the steps to do it, all the better. You also said a funny thing in the beginning. I gave this talk several years ago. It was the first time that Jack Canfield had ever seen me give a speech. And he loved this line, which, I mean, I kind of heard it somewhere. I said, if I would have known being successful was this much work, I would have stuck with being a loser. And there's a lot to be said about just. There's a lot to it. You made this point, like, I don't know if I would ask you the question. Give it to you. I don't know if I would do it. But you still got the passion and you're still driven. The thing is, though, because we've interviewed Cal Newport on this podcast also, who wrote. Wrote the book so Good They Can't Ignore youe and Deep Work. And his latest book is called Digital Minimalism. I believe basically, his whole thing is develop a skill that's rare and valuable. Don't rely on passion, because, you know, passion is about what sort of value can the world bring to me versus what can I bring to the world. And so you actually really learned a tremendous amount about money, and you brought that skill to the world in a way that, you know, you wanted to make the most impact and help the most people. And you certainly have reached millions. And with this particular one, and I have to say this, I was involved a little bit when you wrote the book Automatic Millionaire. And I started taking that advice very seriously in my 20s, and I started putting money away every month and I made it automatic. And I mean, you know a lot of my story. And it is the one thing which is the whole premise of this book which differentiates how I've responded with money compared to a lot of my friends, because I have many colleagues that have brought in millions of dollars in sales and have kept none of them.

Actually. The dirty secret about marketers that most of them are broke.

Exactly. Yeah. Yeah, totally. I mean, the greatest thing that I learned when I. Well, not great thing. The great thing I learned, but one of the greatest, like I didn't realize how bad it was, was when I started Genius Network, there was two things that were really interesting to me. The first was how many people that are out there showing everyone their cars and. And all of this stuff about how extravagant, how smart they are and how big their launches are. Couldn't cut a check for 25 grand. That was the first thing. And that was like, wow, I didn't realize how many of these people are totally broke, but they're out there supposedly teaching other people how to be successful. And the second thing is how many of these people that are the ones that are dispensing advice to the world don't want to pay for it or acquire it themselves, meaning they think they're too cool for school and they are not very coachable. And it was a really, like, wow, I didn't realize. And I guess the third one is that there's seminar junkies at every level. No matter how much money is involved, there's people that bounce from this thing to this thing to this thing, looking for the secret. You know, part of it is just like, use something, master any particular area, and you're going to give yourself such an incredible advantage. So if every young person was to read this book, every. It doesn't matter young, it doesn't matter what age they are, because you address that in the book towards the end, you're like, what if I'm already 50 years old old or 60 or whatever, this would change someone's life. And after having read this book, and I mean, it goes back to the richest man in Babylon. I mean, there's a lot of things that have been written about saving money and putting things away. Your method, though, of just making it automatic is very much about what I call ELF marketing. Make it easy, make it lucrative, make it fun. This is an ELF way of what to do with your money because it's an automated thing, but you go deeper into the purpose behind it. And that's why I think, although some People may view this as just a simple book with a great story. Like, if you don't do this, your life is going to end up completely different than if you do, like everybody. And that's why it's such an important thing. I mean, if any parent or anyone listening to this, for one, did this for themselves first. But secondly, if you have any kids and you set them off in the right way, just like you have a story of a barista, I don't want to give the story away. They give Zoe the character, you know, some of these life lessons. I mean, you need to be that person to anyone in your life, because this is, you know, like this. I own this URL, which I've done nothing with yet, called the First Domino. I may write a book on it about, like, how I'm the first domino and how people have been the first domino to me, you know, the first thing. And this truly is one of those first domino moments for a lot of people with their money. Because, you know, people kill people over money. I mean, they do. It's such an important issue, and so much of our lives revolve around it and making it versus keeping it and how you interact with it. And people's money relationships are frankly dismal and pathetic. And that's what you've always been on a mission to, you know, to fix. And so anyway, that's my little.

No, I just. I totally appreciate that. And I want to say there's another thing that you did, too, and I want to come back to that in a second. My whole dream over these last 26 years with the work that I do has been to get people to take action. I just literally just shot these videos today on the topic. I said, you know, it's not about education. Education without action is useless. And so what I've done by making trying to make money as simple as possible and emotionally connecting people with the dots is get people to take action. One of the actions that you took after the Automatic Millionaire interview was because I have two premises. Pay yourself first one hour day of your income automatically, and then buy real estate. And you and I got off that call and you came back and I talked about the importance of entrepreneurs owning their building. And you immediately called me back and said, do you really believe that? My guest, Joe. I do. And then I think like less than six months later, you bought the building that still in, right?

No, actually, I bought another building first, then ended up selling that one and getting a bigger building. Yeah, but no, I. And I've had this one building now that I have our headquarters in for. I mean, I bought that 2005, 2006, but I'd even bought a building prior to that. But, yeah, yeah.

I mean, so you took action on it, and that's a game changer, Right? And that's, like, totally incredible things about doing these podcasts. Right, because you never know. What's the one idea someone take action on? There's some charts in the back of the book that I want to. You know, people can't see the charts, but I just want to tell the story of one chart in this book, because it's an example of how I got impacted by one simple idea. So the first chart in the back of the book is a chart that shows. It's called the Time Value of Money, and it shows a woman, Susan, putting $2,000 a year away from the age of 19 to the age of 26. So she puts $2,000 a year away in an IRA account, leaves her loan, never looks at it again. And by 65, she's got over $1,035,148. She's a millionaire. She's only put away money from the age of 19 to 26. Then her friend learns about the same idea at the age of 27, and she puts away $2,000 a year every year until the age of 65. She also does very well, by the way. She's got over $805,000, but she's got $200,000 less than her friend who started just six years earlier. And she had to put way more money away than her friend. And this chart was shown to me at the age of 27. So I was a Dean Witter. I was a financial advisor. I had basically just gotten into the business, and one of our Advisors, who was 61, was retiring, and he came and spoke to our class A training class. And he said, guys, it was almost all guys. Before I leave today, I want to show you this chart. So he handed the chart out. He said, here's what you should know about this business. He goes, the dirty little secret about financial advisors is that most of them do a terrible job managing their own money. And so most of the financial buyers back in your office in your 50s are broke. I'm 61, and I'm retiring because I'm rich. I did well for my clients, and I did well for myself. And so I want you to look at this chart. And he goes, is anybody in the room 27? And I raised my hand, and there were a couple Other guys in the class that raised their hand, he said, so look at this chart. All you need to do is put $2,000 a year away, and by the time you're 65, you'll have almost a million dollars. And he goes, look, there's no reason for you to be saving $2,000 a year. You're making so much money in this business that you should be saving way, but at a minimum, you should do this. It's not even $7 a day. And then he said, at a minimum, you should take this chart and you should show this to every single client you have. Because when the client comes in the office and they're 65, they've got kids, and you should give them this chart, and then they should go show their kids. And so I went back to the office, and I was like, wow, I need to at least do this. I need to do more than this, but I need to at least do this. This one little chart is one of the big things that inspired me to start saving and investing automatically all the time. And all the compound interest charts that I have in the back of the book, they're all proving true in my life. It doesn't happen in days. It happens in decades. But the decades, the money just starts to grow astronomically, and then money makes money.

That makes total sense. David, you know what I just realized, too? As you're talking about the demographic for this, the millennials and the parents of millennials, it dawned on me, you know, this book and the way it's written, it's timeless. It was just as relevant if you wrote it 30 years ago as today. I mean, it's going to be the same 30 years from now, because the parable is, you know, so timeless and great to read that I could see this being the new Evergreen College graduation gift for every graduating senior that graduates. You know, I remember seeing that. That Dr. Seuss book. Oh, the places you'll go, I think, is like. I think that book. There's some crazy amount of those books that are given as graduation gifts. Talk about, like, unlikely partnerships. But it might be something to bundle that book with your. With the latte factor, because it's just gonna, you know, balance out their. Their dreams and what they want to do with now an actual, practical, automatic plan to make that all happen.

You know, it's such a good idea. I just got chills from that. Such a good idea. That book, every year, the one you talked about, the Dr. Seuss book, that book is on the bestsellers, I think, every single Year, graduation time.

That's what I mean. I think it lights people up, you know, it's like that thing. But I think this is going to.

Set people up for.

For life.

I think we should bundle it up with what to expect when you're expecting.

Hey, there you go.

That's another great example. I really, again, appreciate you guys willing to do this podcast. I'm so grateful for your enthusiasm. I mean, Joe, like, I can't tell you when I sent this to you and I was like, hey, bud, I just want to show this to you so you can be able to take a look at it. And then you were so immediately like engaged in the book. And then you introduced me some amazing other people. I know we've known each other for 20 years, but I just deeply appreciate you as a human being, which, you know, but also how excited you were about this. So I thank you guys so much. I really appreciate it.

Yeah, no, totally, totally. So let's do this. Let's jump a little bit into the book. And I mean, we're not going to go. My questions are not going to be totally about the book. It is a short book, People can read it and all that. Before we talk about that, I want to ask you about your grandmother Rose. I know she's had like a huge influence on you. You've talked about her for as long as I've known you. And she's also heavily influenced in the book. So in the Q and A part of book, you tell a story about the biggest regrets in life and how that lesson shaped you. And it ultimately shapes the, you know, the main character, which is her name, Zoe, about her life in the book. And so can you talk about this a little bit?

Yeah, well, completely. So my grandmother is the one that really got me into the world of investing. She helped me buy my first stock at age 7. And it was McDonald's, which is my favorite restaurant in the whole world.

I hope it's still not your favorite restaurant though, is it still?

It's not anymore, no. But you know, I love my grandmother so much and she was a remarkable woman. She started with nothing. She didn't have a college education, and she basically taught herself how to invest. Starting at the age of 30, she had no money and she figured out that if she was going to not live paycheck to paycheck anymore, she had to do something about it. And she took charge of the family finances and over her lifetime she became a self made millionaire. So she was the person who was my role model, but she and she's also cool, smart women Finish Rich was dedicated to. And I was writing the book and getting ready to finish it, and she knew I was writing the book. And right as that was happening, she had a stroke. So my grandma was 86. She had a stroke. She lived in leisure, rural California, which is Laguna Beach. I went down on a plane to get her. I brought her back to the Bay Area where I live, put her in a nursing care facility. And I didn't know. I was naive. I didn't know that she. I thought she was going to get better. I mean, I just. I didn't know that. I didn't know that this conversation I had with her would be one of my last conversations. And I asked my grandmother had she had any regrets in life. And when I asked her that question, she said to me, no, I have. I don't. And she went through the reason she didn't have any regrets. She's like, you know, I've been very close to your father. Your father turned out so well, and he's been a great dad. And, you know, I'm close to you and your sister and look how well you're doing. And, like, she went through the things that she was grateful for. So I'm like, that's amazing, Grandma. And the next day, I went back to the hospital to see her, and I said, grandma, how did you sleep last night? And she said, terrible. I was up all night long thinking about all my regrets. And I was like, oh, sorry. And then she said, I want to tell you about them now. She'd had a stroke, so this wasn't just like, I want to tell you about them. She had, like. It was hard for her to get the words out, but her mind was still totally with it. And she went through her five regrets with me like she was 17 years old again, and she went all the way back to being 17. And she basically, at the end of telling me those regrets, I said to her, but, you know, grandma, you had such a great life. And I tried to make her feel better. And then she put her hands on me and she held me. She held my arm as tight as she could, and she said, I want you to listen to me, David, because this is going to be my last lesson to you. And she said, the lesson in my regrets is not what happened to me. She said, the lesson in my regret is that when I got to these points in my life that I shared with you, she said, I came to a fork in the road, and at that fork in the road, There were two different ways to go, right? Like, I could take one road, which was going to be where the dream really was, where I thought the gold was, where I thought the big thing could happen, but it was risky. And she said, then there was a safe road. And she said, the safe road, by the way, wasn't guaranteed, but it had less risk. And she said, all five of my biggest regrets I just shared with you, and now I'm here dying, and I will never know what could have been. And that's why they're my regrets. And so she. I know, right? And so she looked at me and she said, don't make the same mistake that I made. And she. And she said, so I want you to know what's going to happen. Because when you get to these big forks in the road, what happens is there's going to be. There's going to be this David, this little boy inside of you that wants to take the risk. And it's going to be like, let's go do this, let's go do this. And then there's going to be another David. He's like the big boy. Oh, I don't know if you take this risk. I'm really not sure if we should do this. And she's like, all I can tell you is you need to listen to your little boy and give him a chance to come out and play. And I mean, it brings tears to my eyes as I tell you that story. I left her. I never saw her again. She died a couple days and I left her and I went back to my office and I broke down in tears in my car, in my garage of my office, and I literally looked in the rear view mirror of my car and I told myself, david, in three years, you will leave Morgan Stanley and you will go for your dreams of just teaching people how to be smarter with money. Because that's what I wanted to do. The book Smart Women hadn't even come out yet, but I just knew in my heart I wanted to go out and try to help a million people. And I knew I had to leave the firm to do that. And it ultimately took me four years. And I picked up. I moved from San Francisco to New York on a wing and a prayer to do all these things. Everybody said, don't do this. Like, you've got this great career, you're making tons of money, you're set for life. You've worked here nine years. I really was set for life. Would have been a much easier lifestyle. And instead I moved to New York on a wing in a prayer to go do what I did. And then it's been hard, but it played out like way beyond anything I even could have hoped for. And then I wrote the Automatic Millionaire, and it played out even bigger. But. But along this whole journey has been what I've tried to do when I come to these folks in the road is listen to my little boy and give him a chance to come out and play. And that message is weaved into this book because this book's not just about money. This book is about listening to that little girl inside of you or that little boy inside of you and figuring out what that person's saying and when they're saying it so that you can get yourself out of your comfort zone and take the risk and go live rich now. And so my grandmother's story is weaved into this book. I hope what that's going to do is really wake up a lot of people to go. A lot of people who are listening right now, they're not living the life they want to live. They took a safe route and they're not happy, and they want to make a change. And by the way, that's okay. Even if you've had lots of success. Like, you can have a lot of success in life and want to make a change that's in fact, successful. Breathe. Wanting to make a change. One of the reasons people are so unhappy sometimes when they're successful is they reach their dreams and then they're bored. They don't know they're bored, but there's a voice inside of them that wants to go do something new because they've already accomplished what they wanted to accomplish. It's not that it's not fun to be successful. It's that what got you successful. There's something driving you to go do the next thing. And so you got to listen to the little boy or little girl inside of you. And so I tried to take that story, which I haven't shared, and bring it into this book to try to inspire more people to go for their dreams.

Wow.

Yeah.

Love it. That's the beauty of the book, though. There's a lot of these life lessons. The subtitle of the book is, you don't have to be Rich to Live rich, which is really important and really impactful. And what else could you say to like that?

If you're somewhere in your life right now where you feel stuck, the key is to realize that you can go and get yourself unstuck. So go all the way back to the beginning of the book, if you don't know where you're going, you might not like where you end up. We are always going through transitions in life, but we're not trained to go through them. The transitions we're trained for is like, okay, go to school, graduate, get married, have kids, retire. Those are. That's like a. Those are like, four major transitions. There's like, 25 more transitions that happen in between all that, and we're not trained to have those transitions. And the sooner you learn how to allow yourself to transition to what it is you really want in life on a regular basis, I think the happier you can be. There's also a whole thing in this book about sabbaticals. Right? Like, we've talked about sabbaticals.

You gave a talk about it at the. At the Genius Network annual event, which was great.

I tried really hard to get him.

To write the book. That's it.

Yeah, I know. You did. And we almost did. Right. Like, we did a whole podcast on sabbatical, and I did the speech on sabbatical. Well, I weaved the sabbatical story into this book because Zoe Daniels learns how to take breaks and take a sabbatical. And so I think we all work too much, and I think more of us need to be taking breaks. And I'm actually, in the end of this book, I tell the story, because what I'm doing next, this book is I'm going to do this tour I just told you about, and then I'm going to pick up and I'm going to move my family to Florence, Italy, at the end of July and go live in Florence, Italy with my family for a year and put my kids in the Internet. Yeah. Isn't that amazing? And so that's a part of my story. And, you know, I'm 52, and I'm like, I don't want to miss out on life. Like, I've had an amazing career and I'm not done working, but I've got a son who's going to be a sophomore next year, and I want to go abroad with my family for a year, and I want them to experience living abroad, and I want us to do it together. So I tell that story at the end of the book because I want to inspire people to go live their dreams.

The story from the beginning of that, with that saying of just, if you don't know where you're going, you might not like where you wind up. I mean, that's at any stage in life, you're Thinking if you're looking back at, just like you said, maybe you're already retired or you're looking back and you realize this isn't where I hope to end up when I was 20 something. But it's not too late. One of the great quotes that I took from the book was that, and I'll paraphrase, basically this premise of it was that you're going through your life, you're spending money, and you're making somebody wealthy. It may as well be you. Basically, you're either making someone else wealthy or you're making yourself wealthy. And you know, Joe, you were talking about owning the building. I did the same thing. I bought my office building. And it's one of those things where it's like an automatic thing that you, you would have been paying rent anyway. I just realized I've owned my building now for 12 years with a 15 year more. I hadn't even been paying attention to it, but in like three years, the buildings paid off. And I haven't even noticed it, you know, because it was just like what the rent would have been anyway. But all of a sudden, the building's gone up in value and the mortgage has gone down, and now you've got this asset. You know, same thing with my house sitting here that I just realized I bought it in my house in 2002. That's 17 years ago now. And it's like little things make a big difference.

Well, and also, so if you just continue down that line for a second, right, like that building's paid off, Joe's building. I don't know how close you're being paid off, but basically, once you have an asset like that, you have the option to stop working because the cash flow potentially from that property now pays for your lifestyle. You have to own assets that give you freedom. Right? And it's not just, you know, there's a big difference between being an investor and being a speculator. And you only have to own a couple assets to have financial freedom. That's the other thing. Like the automatic millionaire book. I taught how the person had bought one home, rented out, bought another home, paid themselves first automatically for three decades, and they retired at 52 and their income had been 50 grand a year. It's all possible when you take action and it doesn't have to be complicated. And even in the book, there's a whole thing about buying a home, right? Because so many millennials are putting off buying a home. And there are some other gurus out there that, you know, they're basically getting traffic online by telling young people they shouldn't buy home. You shouldn't buy a house. You should just rent. You need to be financially, you need to be free to, like, do whatever you want. And you should.

You shouldn't.

You should just rent. And the thing is, if you don't buy real estate, you never get on the escalator to building real well. And so the ultimate escalator building wealth is home ownership. And then when you're entrepreneur owning the real estate that your business is in, and those are two just incredibly powerful escalators to wealth that you get on that escalator. And just like you said, you turn around. Here's the crazy thing is now we. Because now we're older, we know this decades go by in the blink of an eye.

It's dead. I mean, really, we're talking about 20 years, like it says yesterday, because it really, to us, it feels like yesterday.

It feels like yesterday. I moved to New York 18 years ago, and unfortunately, I bought in New York. Had I been renting in New York, my rent would have tripled and I'd own nothing. Instead, I made millions of dollars by simply buying a condo in New York and living in it.

You know what?

So many of my friends and even clients now are young people. I mean, under the age of 30. And I had a youth panel at my Genius Network annual event this year where I had four people, three guys and a young gal 19 years and younger. And I had JP Sears, the funny redhead comedian up on stage with me. So I've been hanging out with a couple of them because they had moved to Arizona and stuff. So what I'm trying. And these are driven young people, not the average. They're out running businesses and consulting with Fortune 500s. I mean, doing stuff that I was trying to recover from being a druggist addict at their age. And basically what I'm seeing, though, is like, all right, I wanted to spend certain life advice to these guys because they have a drive that I never even had at that age. And they're certainly more driven than I am. However, I've kind of been over this road, like thousands of times, and I've seen the ups and the downs and the economies of different people and all the fame and what the good and the bad that comes out of notoriety and just trying to guide and direct them. And the beauty of reading your latest book is that this is going to become one of the staples that I give to people aside from just relationship advice and marketing advice and genius networking and Stuff is like, okay, on your pursuit of going out and making money, here's how you're going to interact with it, how you're going to engage with it. Because, I mean, I'd like to ask you the question, David, which always strikes me. I don't really quite know what to do because I'm very empathetic and I want to be helpful to people, especially friends. And as you know, about half my time is spent now helping people that struggle with addictions and recovery. There's a lot of people that are just. They just never did any of this, and they've lost the steam and they've lost the energy. And of course, I always want to be optimistic, and I do. There's that side of me that believes every passing moment is another chance to turn it all around. I mean, there's always a chance. I also, though, have a dear girlfriend. She's a doctor, and she does end life care. And there are people that I hear the stories of, people that will keep their loved ones on life support so they can continue to collect money because they just have none. And it's just. And there's so many people in the world that did not engage with their money and their finances in the right way. And they just. The whole Thoreau thing, quiet lives of desperation. What do you do with people that feel completely hopeless? And not everyone is. I believe hope heals. And that's why I think books and I think in two enthusiasm can encourage a lot of people to make different directions. And so some people have gotten to the point where they just feel like they're going to give up such a big problem.

I mean, this is ultimately what pushed me finally to write this book, aside from the Paula Coelho story I told you is that a couple years ago, an article came out in Atlantic magazine, which was based off the Federal Reserve statistics, which were 47% of Americans can't get their hands on $400 in case of an emergency. And I read this article and I was like, oh, my God, So what? Basically, 1 in 2Americans can't get their hands on $4 in case of emergency. Then you go past that. 60% of Americans, 6 out of 10 right now have less than $1,000 in savings. 7 out of 10Americans, right? 7 out of 10Americans. You guys live paycheck to paycheck for women. It's worse. Eight out of 10 women in our country right now are living paycheck to paycheck. When you look at what happened with the government shutdown, and it was Just like less than a million people. But let's just use a million people, make it a round number. You had a million people who basically, for the most part, had great. They got a government job. So theory, they're safe. And within two weeks, you have people who couldn't pay their rent to make their car payments, couldn't make their mortgage payments, and couldn't eat. When you look at what's happening in this country, our country is actually breaking down right now. When you look at the anger of the politics, it is an issue of most Americans are actually struggling. And what's happening is that capitalism is starting to not work. Ray Dalio had this great quote the other day on CNBC that basically, capitalism is not helping the bulk of people. And I'm paraphrasing that I'm not saying it the right way because I don't have it right in front of me. But what I said is, what's wrong in this country is that we don't have financial education in school. And you can't participate in capitalism if you don't know the rules. If you don't know the rules, you can't play the game. And so the challenge is that we haven't been teaching this stuff in school. So I had a grandmother teach this to me, and that's what changed my life. But most people, they don't have a grandmother teaching at the end. And so I guess politically, we need bipartisan support and effort to get mandatory financial education in school. And until that point, we've got to get people reading little books like the Latte Factory to go take charge of their financials.

Yeah. You know, here's the thing, because I don't want to leave off on the statement about capitalism, because I think a lot of times capitalism gets a really bad rap. I mean, going back to who was it that said a Hayek that said, you know, capitalism, you know, the problem with capitalism is that it was named by its enemies. And capitalism in its purest form is simply collaboration between individuals, exchanging money for value. And so it gets attacked a lot. And I often think, you know, what's the alternative? I mean, because capitalism is a system that works. And then there's, of course, corporatism. You know, like Michael Moore did a movie called Capitalism, and it was attacking corporations and me being a business owner, I don't think anything in that movie had anything to do with capitalism. I think he just hijacked a word to try to go after crony capitalism or whatever you want to call it. I do believe though, that there's a mass amount of anger and a lot of shifts and a lot of changes taking place in the world. You touch on it in the book about things like cryptocurrency. When Dean said this book is going to be timeless. I'm curious to see, let's go 20 years down the road in terms of exchange. The bottom line is no matter what the means of acquiring or buying or exchanges, you're going to get paid in a certain way. And what you do with that and how you interact with it has everything to do with how your future is going to show up. 5 years, 10 years, 20 years, 30 years, 40 years down the road. I love to dig deeper. I believe marketing is storytelling. I believe marketing is applied psychology. I believe the things that me and Deep talk about here are designed to help people that live in the world of capitalism, that live in the world of not time and effort, but the ability to produce a result. Talking with you about marketing this book. These are our capitalistic endeavors. And as long as we're creating value and we're not exploiting people, because there are certainly people that make money. I mean, there are cigarette companies and there's many companies that sell things that are damaging to people and they use entrepreneurial principles and under the umbrella of capitalism to do it. But I, I, you know, we've had John Mackey, you know, who wrote Conscious Capitalism, and there's lots of different ways to look at it.

Let me make sure you hear what I'm saying. And it's also what Ray Dalio is saying. I think again, I want to put words and raise mouth. Capitalism absolutely works. It's the best system we have. The net worth of Americans in 10 years has gone up by $31 trillion, the stock market since 2009. And you and I did a podcast back in 2009 when I said everything's on sale and recessions make millions years. The stock market's gone up 400% with reinvested dividends. If you're in the stock market, you're benefiting from capitalism. If you're in real estate, which has also gone up to an all time high, you're benefiting from capitalism. The challenge is half of America is not invested in the stock market and is not invested in real estate. And they're getting left behind. And so they're in capitalism, but they're on the side of spending. And what has to happen in order to be financially secure and not depend on the government, you have to move from the side of the ledger. Which is that you are a spender and a consumer to an equity owner and you have to own stocks and you have to own real estate in order to be on that side of the ledger. And so I guess it's just basic financial education. You can't play Monopoly and just go around the board and not buy houses. You have to have four greenhouses to get a hotel to win the game. If you go to work every single day and you don't keep any money for yourself, you have no hope. Right. Like that's a very stressful way to live. That's why living paycheck to paycheck sucks. So you have to make a decision to be financially selfish. And in the book it's called pay yourself first. And it's learning how to stand up for your earnings and put yourself first. And 26 years of teaching this stuff. My message hasn't changed. Just what I'm seeing in the last 10 years is that the people who listen to my message and use it, it's totally working. The question goes back to what you just said, which is how do we get the other half of America to use this stuff? A lot of people who aren't saving any money are still stopping at Starbucks every day and having a $5 cup of coffee. A lot of people who aren't saving any money who don't have $1,000 in savings went out and bought a new iPhone this year for a thousand bucks. Now they financed him. A lot of people who don't have any money went out and bought a brand new car. In the last 36 months, the average car payment in America is 503. Do. The average American works two to three months a year just for their new car. Nothing is a bigger waste of money than going out and buying a new car. If you have a car that is worth more than you have in your retirement account, you're an idiot.

Can we quote you on that?

That's great. That should be on the COVID of the book. Yeah.

You know, if you were driving a. If you were leasing a hundred thousand dollar car, or most people leasing 50, $67,000 car, but you somehow don't have a retirement account with 50, 60, $70,000 in it, then what are you doing? Right? Like I've done these videos lately that show like, take the $503, put it into an investment account, leave it alone three or four decades and you'll be a multimillionaire, drive cars for 10 or 15 or 20 years. Pretty soon young people will actually not even be Driving cars. Right. Because we'll all be doing these car shares. But, you know, right now there's 7 million people who are behind on car pay. It's because the car industry markets and spent more money and spent marketing cars than just about anything in America. And we've been trained to go get new cars constantly. We don't need new cars.

Yes.

The system is set up for Americans to spend every dollar they make in more. And so maybe I'm naive. I still think it comes back to financial education. I think the reason people don't do better is they don't know better.

Yeah, I agree. No, I agree. I mean, well, there's a lot of reasons. I'm also. Yeah. I mean, my whole thing is help people with their addictions. And I think there's an addiction to image. I think there's an addiction to struggle. I think there's an addiction to instant gratification. What I thought was a really smart thing with what you did in the book, because when you start talking about the latte factory years ago, you probably had a lot of people in the coffee business that were, like, wanting to attack you. Don't tell people. They miss the whole point of the metaphor. It could be cigars, it could be cigarettes, which you make a great point for smokers. It could be television subscriptions. It could be buying apps all the time. There's a million things that could be the latte factor, but the setting that you did it in and where Zoe learned all of her lessons. I want people to read the book. Actually, I don't want to give away the whole book, but it was really smart the way that you thought through. Knowing David all these years. This is not a book that he just knocked out. There's a lot of thought put into this book, which is why everyone really needs to get it going. To your point before, when I started talking about the marketing of it, the funnel, if you go to thelattefactor.com and this is no affiliate thing, me and Dean are not. If you buy the book or not, it isn't going to impact our income in one iota, which I think it should. I think people should just start sending us money right now. Since we're talking about money, they'll have to pay us separately.

Yeah.

You can watch all of David's marketing and participate in it, and the cost to you is free. Like, you can literally go look at the funnel that he's doing and how the marketing. So for all the marketers out there, that'll be very helpful. So let's cover a couple of things and then we'll let people just go and look at the marketing you're doing, get on the list. The book will be coming out. When's the book coming out?

The book will be out May 7. It'll be in stores everywhere online. And hopefully you'll see it in airports if you're going through them. And then, you know, we hope to have a lot of translations. So for people listening in foreign countries, you know, we'll have hopefully by then what countries the book is being translated in. And that'll be on our website, too. And there's two websites. There's davidbach.com and then there'll be the lattefactor.com so either one of those, we should have the ability for you to go find that book pretty quickly.

So just to confirm for right now, though, David, David, you're not charging people to watch the marketing of this, right?

They can go.

Well, actually, no, let me. Let's be clear. You can go the way you go all the way through the funnel. It's not complicated. You got to buy one book, right? So you enter the funnel, then you buy your one book, you email us. That's how you go into the real funnel. Then you get all the bonuses, then you get to the membership group. So, yeah, because we got to get people to buy a book so you can see the beginning of the funnel. Amen. Right?

Exactly.

Yeah.

Well, you know, let me say this thing. So Oprah has had a huge influence on you. The book has even a dedication to her. So, I mean, you were on Oprah a ton. So how did doing her shows change your life? Because that's always like everyone's, I want to get on Oprah. Are you going to do anything more with her?

Yeah, Well, I mean, it totally changed my life. It took five years to get a million books out. I got a million books out before I was on Oprah. It took five years to put a million books out. And after being on Oprah, we had like another million books out in like six months. That was the Automatic Millionaire. And then she had me right back and we did another show on the Automatic Millionaire. Smart couple, finished rich. And like in 90 days, I had four books on the bestseller list at one time, which is, I think, like a record. Like, we have had four books from the Wall Street Journal, USA Today, Business Week at once at four out of ten places. So that was an unbelievable year. And then she had me back again. We did an entire series on getting America out of debt when the recession started to hit, called the debt Diet, God bless her. I mean, it allowed me to be on a stage that tens of millions of people saw. And the amazing thing about the latte factor is that again, we did that. We did that latte factor on her show where we physically showed the money, right? Like, we had somebody track their expenses, sit in front of the audience, and then we put. She pulled back a sheet, and underneath that sheet was over a quarter of a million dollars in cash to physically show what this woman's latte factor was costing her. And that moment on television was the aha moment that really went all over the world, right? Like, people were calling their husbands and their wives and saying, like, we got to stop wasting our five to ten dollars a day because it could be worth a fortune. And what made people, like, what made people realize, you know, you don't have to be rich to start investing small amounts of money can change your life. And back to what you said, it was a moment that made people go, you know what? We really could do this. And that's what it takes. People going, we really could do this to actually go do it. I mean, that's why I dedicated book to her. Because after that show, I wanted to write this book. It's just my publisher didn't want it. And so the idea. And I didn't have the whole idea yet. I had the. Had a general idea, but I didn't have a story in my mind. It took 14 years for the story to actually come together in my mind, maybe 12 years, because John David Mann, who I wrote this book with, who's my co author, he wrote a book called the Go Giver. It's one of my favorite parables. And when he sent me the Go Giver to read for testimonials, it was over 10 years ago. And I said to John, then I have an idea to write the book, the latte factor. We should write it together. And we talked about this for 10 years. And finally I called him up and I said, okay, now I actually really have the idea. You have to come to New York and I'm going to walk you through the story. And I started him in the Oculus, and then we sat down. And then we sat down. One last thing I'll say here on like, like never giving up on your art. I decided to write this book and then sell it. So John and I worked on this book for nearly two years, and then we went out and auctioned it, which is not how usually I just do A book proposal and then auction the book proposal and write the book. I said, no, I'm going to write this book. And when I think it's perfect, then I'm going to auction it off because I don't want anybody else to change it unless I think they got some ideas to make. Could really make it better. So that's what we did.

Yeah. That's awesome. The Go Giver with Bob Berg is great. Once the book comes out, I want to actually kind of witness what happens. I almost feel like this is a before the rocket launch and then we talk to David after the rocket launch and see what sort of impact. I'd like to have us regroup and do another episode, you know, a few months out and just see what happens. I'd love to have people go pick up a copy of the book. And wherever you see this podcast, please, if it's on social media, if it's on ilovemarketing.com any questions, any comments, any questions you'd love to get answers from? David from? We'll do a future episode related to the content of the book and maybe even the marketing of it. Is there anything for at least this series or this episode of I Love Marketing that we have not talked about that we need to? Any questions that we should have discussed that we haven't yet, or any famous last words, David?

I guess one thing I'd just say the other way to get into our funnel that doesn't cost any money is go to davidbach.com and you can put your email in for our 3 Minute Sunday newsletter because that's what goes out to everybody. And, you know, we can do a future call on this, but like, one of the big secrets to our success has been our email list. So I know you guys imagine that. I mean, imagine that you guys teach a course on email math and, you know, people go, how have you gotten your book on to nine New York Times bestsellers? At the end of the day, it's our email list, right? Like, because. Because I can't count on Oprah or the Today show or CNBC or Yahoo, or insert name every time I launch a book. I don't know, right? Like you just said to me, I'm like, I don't know yet, right? Like, but I can count on. I have an email. And so I've nurtured that email list now for 20 years, and I turn around and send out an email, and then the people who really love me and listen to me come along. So I guess the last thing I just say is like, you know, take care of your email list. Because that's. It's the old story that 1000 true fans can move the, you know, move the world, move a business, move your life. Like, I think that's still totally true in this day and age where we're so overwhelmed with information. Still goes back to, do you have a thousand real fans? Because you have a thousand real fans, there's almost nothing that you can't do.

Honestly, I think that's one of the reasons me and Dean even do this. We're just constantly trying to help all the entrepreneurs that are out there trying to. To build their businesses and grow their things and sell their stuff, and just every little thing we can do that's going to give them an edge to help them be a better entrepreneur is what we're doing with this podcast. And it's really what I do with Genius Network. Genius Network is to bring the world's best, smartest, most capable geniuses and share what they know with other people and everyone gets better. I mean, that's at least the way I look at it. Dean, anything else you. You want to say? And if not, we'll just wrap up this episode and have people go get.

The book or at least get on.

The list to get the book.

I think that's the thing. Go get on the list and get the book. We're not afraid of people spending money, David. We want them to spend money in this situation. So we wanted to get over there and this is a great way to spend it.

Yeah.

Awesome.

Thank you, guys.

Yeah. So, as usual, David, always great talking with you and share this episode with somebody that you know. Get a copy of the David's book for all the young people in your life. Let us know what you think and we'll talk to you on the next episode of I love Marketing. So thanks.

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Sam.