This Wealth Formula Will Set You Free Financially (Use This Mindset Shift!)

This is the dumbest thing on the Internet.

I know what you're gonna say.

You know what I'm gonna say? Multiple revenue streams, multiple streams of income sounds really good, but actually is the thing that holds most people back. Rory Vaden, he's a personal branding expert.

One of the all time great speakers, author of multiple books. He's a coach behind the scenes for many of the names you know out there. Rory Vaden, welcome back to the show, brother.

Here's what most people do is they go like, oh, there's all of these ways I could make money. Just go on to Instagram or Facebook. You'll see an ad like every few minutes for like, you could make money doing Airbnb. You could become a speaker. YouTube, faceless videos, video courses. Yeah. Our strategy is, is to go, what if instead we figured out your one.

Thing for those watching and listening, what would be the next step to then creating financial freedom in their life?

So it's really simple. So here's what we're going to do. We're going to look at this through two lenses.

So.

Let'S start with the belief, the limiting belief or the errant belief that I think holds so many people back. And as we start to learn about money and we, we go, okay, I'm open to receiving more money. I want to grow my financial intelligence. Maybe you start studying money, maybe you start interviewing wealthy people, maybe you start listening to podcasts about money, there's something you're going to hear that sounds really good, but actually is the thing that holds most people back.

I know what you're going to say.

Do you know what I'm going to say?

Multiple revenue streams.

Multiple streams of income. I already knew you were multiple streams of income. Now this is, this is the dumbest thing on the Internet.

Well, here's the thing before you go there, because I'm going to give you, I'm going to push back in one way.

Yeah.

Because I think when you get clear on what you're supposed to be doing, there could be multiple streams within that thing. Where there's upsells, cross sells.

Yeah. Maybe add on, let's talk about.

You know what I mean?

Yeah.

But that's the only thing where I.

Think we're going to use your case.

Go ahead.

As a story of this. Go ahead. So now, by the way, so we're going to explain.

Now you're saying multiple streams of income is a dumb thing to believe in.

Well, multiple streams of income is terrible advice for someone who's just learning how to make Money, multiple streams of income is not a bad idea. It's just a bad idea for a beginner.

Okay, great.

That's all I'm saying. And when people first start learning about money, they learn from people who make money, teaching people how to make money. And in order to get people to pay attention, they say sensational things that make them think, like, oh, that's what I need. And this is like one of the sensational rappers. Like, you just need multiple streams of income, and if you pay me 50 grand, all teach you how to do it. Right? Like, that's, that's the thing. So I'm going to show a framework. And by the way, if you're, if, if you're, if you're listening to this, you may have heard me talk about this framework before with Lewis, but we've never talked about it in this context. We've only talked about it with your brand messaging. Today I'm going to talk about it with brand monetization. It's the same concept, but it's applied completely differently. So the concept is something that we call Sheehan's Wall. And we named this after a colleague of mine, Peter Sheehan. And I originally heard him kind of explain this in a more corporate. A more corporate environment ago, but we've adapted it to personal brands. And so basically, the way that this works is that you've got two different groups of people in the world. And usually when you and I talk about this, we're talking about building your personal brand, growing your influence.

Yes.

And we talk about on this side are people who are unknown, and on this side are people who are well known. And we talk about how to go.

From unknown to known.

Yes. But what we're going to do now is we're going to talk about this from basically going from, you know, broke to rich.

Yes.

Okay. Now here's what most people do is they go like, oh, there's all of these ways I could make money. And if you just go on to Instagram or Facebook and you're scrolling, like, literally, you'll see an ad, like, every few minutes for, like, you could make money doing Airbnb. You could, you could sell T shirts, Amazon and drop shipping. You could become a speaker, YouTube, faceless video, video courses. Yeah. You could do affiliate marketing. You could start your own marketing agency. I mean, like, literally. And that's what we do. And even inside of your business. And Louis, you're very graceful for letting us use you in, as example, use me. When Lewis first started working with us and you were Our very first client, Brand Builders Group, only exists because of.

You, by the way. Seven years ago. Isn't that crazy?

Seven years ago.

Wow.

Lewis, we listed every one of your revenue streams, and you had 17 revenue streams because all of your friends were doing free, plus shipping and courses and affiliate launches and speaking and private coaching.

Webinars, workshops and membership and everything.

And. And so.

And one on one and all the things.

And on the surface it seems like, oh, I could just add another revenue stream. It would be good.

Let me create all the offerings I can create because it gives people more chances to give me money.

That's right. The problem is, is that when you do that, you bounce off the wall. And the reason you bounce off of the wall is because of something we say all the way back in my first book years ago. Take the stairs. If you have diluted focus, you get diluted results. If you have diluted focus, you get diluted results. And this is true also about money. Most of us, by definition, have small businesses or smaller businesses, but if you have a business with less than 500 employees, like, you're a. You're still a small business. Most people watching this, listening to this, probably have a much smaller number. Well, let's just say that you have 10 units of resource. Okay. And that could be time, teen technology, capital prayer, whatever your units of resources are.

Yeah.

If I have 10 units of resource and I spread them across 10 initiatives, then on average, each initiative gets how many units of resource? 1. 1. So that's what most of the world does, is we go, oh, I have a new idea and a new idea and a new idea and a new idea, and someone else pitches me an idea, and I'm like, oh, great. Like, let's go do this. Let's go to this course about resour, know, reverse mortgages, and let's go to this course about, and, you know, whatever, making money in the market. And we're spreading our time team, attention, capital prayer across all these units of resource. Compared to what happens if you take those 10 units of resource and you lay them all down on one initiative, the likelihood of that one initiative succeeding goes up exponentially. And this is what we did with you, which you. You've been. So I mentioned this. I sent you our new book that's coming out, and I said, you've been so generous with your praise of us, but legitimately, I think maybe the only thing we ever really did for you was I asked you one rhetorical question, as I said, Lewis, what would happen if you stopped doing all of these things. And you just went all in on the podcast. It wasn't even a conclusion I had drawn. It was a. It was a question of going, you're doing all of these things, but you say you want to make, you know, impact 100 million lives. And this podcast, which is kind of like a side thing for you, is. Is really gaining momentum and you're really good at it. And you. And it's life giving. It's low stress. It doesn't require, like, massive expense. What if you just went all in on this and I don't think people really understand this story. In full year, you had a mastermind that was generating like, multi million dollars a year in revenue. You and Matt and I had one conversation in a hotel. Robbie, you were doing this.

Yep.

And. And you know, my friend Louis, y' all has. Has big cojones as we, as we sometimes say. We had one conversation, and he decided in one moment to walk away from more than $2 million in revenue in one conversation.

Yeah.

To go all in on the podcast.

Yeah. It's crazy. And it's crazy when you think about it.

It's crazy. And. And honestly, I was also, at the time, not totally convinced it would work.

So I was. I was like, hopefully this works.

Hopefully this works.

You got to have faith and you got to know that, like, oh, I could always go back to this also, if this doesn't work and I'm broke on my sister's couch, like, okay, I can make a few offers again and try to find a way to make money. But at the time, I wasn't feeling emotionally abundant. I was financially abundant. I wasn't feeling horrible, but I was feeling like a. You were stretched six or seven out of ten. I was like, nothing feels like it's really great. It's like, good, but it's not feeling abundant. So it wasn't like my life was horrible.

People were coming at you with all sorts of opportunities for all sorts of things, but you were. You were bouncing off the wall a bit. You were successful. By. By the world's, you know, definition, you were successful. But the way our strategy is, is to go, what if instead we figured out your one thing? What is the one thing that if you went all in on it and you could become. Now, again, normally, in our other conversations, we've talked about your brand messaging and your brand positioning, but the same is true about money. If we go, we call it, in brand mothers group speak, we call it your pbm, your primary business model. And we say one of the Most important tactical decisions you can make in your business is answering the question, what one revenue stream matters above all others? What is the one revenue stream that come hell or high water, like, when push comes to shove, we're going to make this revenue stream successful. We don't hope it's going to be successful. It's saying, we're committed to it. We're going to not do anything else until this one works. And, and if this one should ever fail, we immediately pull resources from anything else and pull them back here. And when you have 17, that's very hard to do because they're constantly pulling you. And when you look at rich people, since we're now talking about money, and you go, how do they break through the wall? Well, first of all, let's use the metaphor of a wall. So if we were going to, like, bust through this wall right here, if we start hitting with a sledgehammer all over, you know, we're not going to make much difference. Yeah, right. We're going to get. We're going to work hard, but we're going to be frustrated. But if we hit the same spot on this wall again and again and again and again, eventually we will get traction. Eventually it, you know, there'll be a crack, a divot, and then a hole, and then you break through the wall by hitting the same spot again and again. Now, once you're on the other side of the wall, right. Once you're rich and famous or wealthy and well known, as we say, in.

Your industry or in life or whatever it is.

Yeah. Then you can expand into other things, Right. So people like to use like, the Rock because they go, well, the Rock has a skin care line. Homeboy's making money from acting. He owns a football league. He's got tequila.

Wwe.

Yeah, wwe. I mean, he's like all these different, different things. But how did the Rock become the Rock? He was a wrestler.

One thing professional.

Can you smell what the Rock is cooking? Like, that is how the guy got famous. People like to use Elon Musk and they go, well, what about Elon Musk? You know, he's got like, Tesla and SpaceX. Yeah, he does. But he is the best example. Go look at Elon Musk's life. He got rich from one thing. Know what it was?

PayPal.

PayPal.

Yeah.

All of his money came from PayPal. He. And he took tens of millions of dollars. And then he. He spread this. Spread this cross because this person has resources. So remember, if you have diluted focus, you get diluted results. Now, it doesn't mean you have to be focused on it. It means someone has to be focused on it. When I have $100 million, I can hire people to wake up and be focused on it. But you as an individual person cannot be focused on a hundred things.

This Richard Branson, he's got, you know, boats and hotels and telephone companies, but he's able to hire the right people with the resources and they can go focus on this.

But in the beginning, how do you make his money?

One thing. Virgin Records. Virgin Records.

Virgin Records. Jeff Bezos, Amazon. Bill Gates, Microsoft. You know, our friend Jamie Kern, Lima IT Cosmetics. Sarah Blakely, Spanx. Right. You know, Jennifer Lopez. Right. They, they start as one thing. They are one thing. And the, and the key is going, how do I become the world's greatest or one of the world's greatest on one thing.

Yes.

Then multiple streams of income, if you want.

Yeah, yeah, yeah, right.

There's a lot to be said to just keep going. But, but you can hire people, you can get stuff done, but over here, if you do it, you're going to stay broke and you're going to stay, you're going to stay busy and you're going to stay broke, and it's frustrating.

So what's the, what's for those watching live or if you're watching the. The YouTube after the fact, what's the biggest takeaway you're hearing from Rory in this example and share how this has either supported you in your life by you applying this already or where you see this might be hurting you in your life with the things that you have going on. I'd love to hear in the comments below how this is resonating or speaking to you in this. And once we get clear on this, let's say people watching or listening and myself, I got clear on this and I started to eliminate certain things over a period of time. Some things I eliminated right away. Some things I limited in the next two years with a roadmap. Okay. I can't just cut out all this revenue right now because I got team and bills and expenses. So I'm not just gonna say note everything and try one thing that's not making that much money. Whereas originally I was a course and education business based on revenue streams, but I wanted to become an advertising business based on the content that I was doing with the podcast. And I wanted to get there, but I wasn't there yet. So I knew it was going to take time. It was going to take hiring the right people. It was going to take focus. And it wasn't going to happen overnight. There was a process of time doing that. But for those watching and listening, what would be the next step to then creating financial freedom in their life?

All right, so we got another drawing, another framework. We've never talked about this one before. So the next thing.

And for those watching and listening right now, if we can write up Lewishouse.com just so we have it there, slash brand call. I believe that's the link.

That's it, Yep.

Brand.

Call.

If anyone at any moment, you can go to this page and open it up and submit a form. Because Rory has been a great partner and a great friend over the years and we've had, I think thousands of people go through this process where if you're not clear on your business strategy right now, where you're going with your business, maybe you're distracted. You feel like, ah, having not to break through the $100,000 mark or half a million mark or 5 to 10 million mark or something is blocking you. Rory's worked with billionaires. He's worked with tons of New York Times bestselling authors, I don't know, like 30 of them, I think in the last few years now or something crazy like that. And he's helped people at all different levels of their financial process and their business process create freedom from peace of mind and clarity on how to do this. He's got an entire team here that will walk you through a free strategy call. If you go to this page right here, Lewishouse.com brand call. You can fill out a form to get on a phone with one of his key strategists to just help you get clarity on where you're at and what the next steps might be. So sign up for that call at any moment. We'll also link it in the comments below. But that'll be there for you guys to sign up. So go ahead. In this new framework you're talking about, love it.

So to your point about the transition because you made a split second decision to cut out a couple million dollars in revenue. That was a big, big, big swing. Which is a good point though, because you're able to do that when you're not married and you don't have kids and you don't have a lot of bills, one of the best things you can do financially to take more risk is reduce your expenses.

Yes.

Lower your appetite for material goods. And you know, if you don't have a lot of responsibilities, you can take more financial risk. So, but, but regardless of where you're at on your journey. The, this will, this will help you. So we call this the golden grid. And this is how you create the transition plan in your, for your financial future. So it's really simple. So here's what we're going to do. We're going to look at this through two lenses. So short term and long term. Okay? And we're going to just do a super simple exercise. Right here is what we call your, I said this earlier, your primary business model, your pbm. Then you have your secondary business model. Then we have ancillary revenue streams. And a huge part of the power of this is just getting clear in your own life, where am I and what am I dealing with? Now the most important one is this one. We want to identify what is the one revenue stream that matters above all others. But pragmatically speaking, we have to look at that through short term. Like it might be your day job, right? Some of you watching right now, it's like it might be your salary job. And you go, I have to succeed at work. I can't let that fail. It's paying the bills, it gives us health insurance and I'm saving money or like, you know, whatever. It could be a day job or it could be the thing you're doing now that you don't want to do. Like in your case, it was courses. Yeah, people thought of you in different ways, but in reality on your financial statements you made money from courses. The most money came from, most money came from courses. So even just being clear to go, okay, I'm a lot of things, but what am I really? And this is a simple question to answer because all you got to do is look, where's the cash flow coming from, right?

Do you ever walk out of the grocery store or fill up on your tank and just think to yourself, how is everything this expensive? Feels like prices are going up everywhere. But how great would it be if just once, just once something actually went down? Down in price? It'd be pretty amazing, wouldn't it be? Well, at Metro that's exactly what's happening. They're lowering their prices and are giving you a five year price guarantee. On talk, on text and on data one line now 20% lower. Family plans also lowered. Oh, and you also get a free 5G phone, all with no ID required and new no activation fees. Stop by your neighborhood Metro store, visit metrobyt-mobile.com or call to find out about their amazing offers.

So you're going to put something in here and, and here's the thing. This is what you need to do or you have to do. This is what you want to do long term. Long term. But you have to do what you have to do in order to earn the right to get to do what you want to do. Now, the lower your appetite for material goods and the less obligation you have in your life, the shorter the Runway can be because the more you can hit the gas pedal of risk and you can take off like you did now you're married man.

Yeah.

Yeah. So it's a little bit different. Fortunately, you married a sugar mama, so it was even better.

See the money magnet.

But we want one thing here, and we also want one thing here. Right? So the key is we want four one things in these boxes. And sometimes this drops to this, sometimes this drops here, sometimes, sometimes this drops off. So it's different for everybody. Now down here, you can dump other stuff.

Yeah. So like right now, my main business, primary business model is ads. Ads, advertising, sponsors, ads. But an ancillary revenue stream is. I've got a book, right? It's like a book and my audiobook and the physical copy and speaking.

Speaking might be on there, but you don't do that a ton.

I don't very. I don't do much at all. So it's like, I'll do it when it's convenient to me and it makes sense. But otherw I say not a lot of these things. The book is not like a massive revenue generator. It's more of a brand positioner and a service piece. How can I add value with my content and context?

And it's a gateway to your main thing.

It is. It's a gateway of drawing people in so that they'll consume my podcast in a deeper, more meaningful way. Things like that. I mean, if it makes a lot of money, great, but you don't have the control over that necessarily. You have to sell so many books to do that, so. But it's ancillary.

And when you slot it, things become super clear. But until you put each thing in here, you go. For a lot of us, in our mind, we have three things here. And you go, you're not gonna succeed with three things here.

Yeah, I'm a coach and I create content and I do sponsorships, and I write books and I speak and do workshops, and I do membership. It's like all these things at once.

And it's fine if this doesn't exist yet. That's long term. But we gotta go, what is practical and real? How do we keep the lights on, but also, what are we building towards? And we want to focus on this and ratchet this up as much as possible. And we have a. We have a rule called the 7030 rule, which is basically the way to make a transition, because we get asked this question a lot, right? Is like someone. Someone requests a call, and they go, well, I have a day job, and I really want to be a speaker. I really want to be an author, or I really want to become a coach. You know, we work with a lot of experts, and entrepreneurs are the two primary groups we work with. And they go, how do I know when to make the leap? And the answer is 7030 is you go, all right, so right now we got to go, what's the main thing? And that's like 100% of the money's coming from this thing. And then we want to build the new thing, and we build up the new thing, and to where the new thing is about 30%. And once it gets to 30, then you can make the leap and kind of like, go for it. Because it's hard to get it past 30 without going all in. But if you're at least 30% of your income is coming from that, you know it's going to work.

If you're doing 30% with 10, 15% of your time.

Exactly.

So it's like, okay, I'm doing this on the weekends or at nights or whenever, lunch break or whatever. I'm able to make this money. And now what if I had all my time, then I could go all in on it, and that 30 could get to, you know, maybe 50 pretty quickly, a percent of the money it was making, and then hopefully 100% and beyond. Yeah.

And when you look at money and doing new things, you hear the term Runway a lot. And I think that's actually a good. A good metaphor, because it's like, how long is my window to succeed with the new thing? You extend your Runway by limiting the amount of cash that you need to get the thing off the ground. So if you keep your expenses down, you work pretty lean, and you keep. You stay out of debt, and you. You know, then you're extending your Runway, you're giving yourself more time to take off before the plane just kind of crashes. So keeping the expenses down is a good thing, but that's where we got to start and go, all right, what is. What is in this now? There's really only five ways that personal brands make money that we've.

What's that? We see that as well.

Yeah. Sure. We can. Actually, let's do it on this. We got this up here. You want to do a new page?

Do a new page.

New. Put it up there again.

Run it up here again.

All right. Right here?

Yeah.

Okay. Lewis House.com,/brand call.

Okay, so, and so right now you're going to talk about the five different ways that personal brands can make money. Yeah. There's only five ways. There's not 12 or 17.

Really. We put them into five categories.

Okay, cool.

Okay. We call them the paids. So there's five ways to get paid. And if you, if you look at now, personal brand to us also, you know, we've talked about this on other interviews. It does not mean speaker, author, coach. Personal brand is simply the digitization of your reputation. So we work with professional service providers, accountants, lawyers, doctors, chiropractors, because they're still a personal brand. It's anyone who's using their reputation to.

Drive revenue for their local community services in their town or whatever might be their state. So not just someone who's also trying to reach a message to the world. Like a lot of personal brands you work with as well?

Yeah, yeah. I mean, we work with some of the most famous. I mean, you know, people who reach millions and millions of people. But, you know, when you and I started working together, as I looked this up, that you had started the podcast when? 2012.

Yeah, 12 years ago.

Yeah. So 2012.

It was been five years since we started this process. I was doing the podcast for five years.

You had done it for five years. It took you five years to get to 30 million downloads.

Yeah. Now it's over a billion.

When we started working together and we did Sheehan's Wall, you went from 30 million downloads to 100 million, 500 million. Two and a half, like years, something crazy. And then you've done another 500 million. It's over 500 million since then.

Yeah, yeah.

So billion. A billion. So it's. You're a great testimony to the power.

Because we went all in and made it the primary thing.

Right. And most podcasters, it's one of several things they do. So who's going to win? Somebody who just does it and it's all we care about. And it's top notch guests and top production quality and perfect editing and like just all we promote or someone who kind of has a podcast, they do a little bit on the side using zoom and crappy cameras. Right. You know, like that kind of thing. So. All right, so back to this. So if you, you have a Pile of followers and you want to turn them into a pile of cash. Five vehicles to do this.

And before you share the first one again, for those watching or listening, if this is resonating with you, leave a. Yes, leave a comment below that it's resonating. And if there's been an aha for you, let me know so we can see what you want to hear more of in the future around this type of content. Leave that. If you have a question around some of these things, feel free to type in a question as well so we can continue to be of service to you and know more of what you need to be successful. So the five things starts with what?

All right, so the P stands for products, physical products, right? This is Sarah Blankley with Spanx. This is Elon Musk selling Teslas. This could be selling day planners T shirts like it's a physical product. You go, you look at Shark Tank, it's almost all physical products.

That's food products.

That could be a. Yeah, it could be a shake, a vitamin, like a physical product. There's advantages and disadvantages of each of these. We can talk about it. The A is ads and affiliates. This is your model now. Yes, but it wasn't, it wasn't your primary business model when we met. So your primary business model was actually, this was selling information. So this is, this is courses, coaching, consulting, membership memberships, certifications, assessments. These are basically, you could think of this as digital product.

That's a college or university as well.

Yeah, college or university, great example. But you're, you're selling knowledge of some type. Then the D is deals, which are third party deals, book deals, TV deals, brand deals, movie deals, licensing deals. This is where somebody is, it's usually a royalty is involved. That's like the, the classic sign. It's usually later in someone's career stage. But you're being paid in advance to create something and then you have an earn out that you get like a long tail, you know, royalty or whatever. So there's deals and then there's the one that is the, this is the fastest path to cash. And this is the one that is the biggest opportunity that most of us can break free with is services. And this is a time for money exchange.

Okay, it's the fastest way to make money, but it's the hardest to scale.

Exactly. But people poo poo on this because they're like, oh, well that's not scalable. Well, some like coaching's a good example. Right. People will be like, oh, you don't want to do coaching. Coaching's not scalable. Well, two things. One, any service is scalable through one mechanism. You raise the price. Right. I used to do keynotes at $5,000. Now I do them at $65,000. It's the same keynote.

But is there a limit though? You can't scale to a million.

No. Well, I did an event, I did an event a few months ago, Tony Robbins, he got a million bucks. So you can go pretty high. Right? Right. So one on one coaching, you raise your fee. Consulting, you raise your fee. The other thing is you create other people and you train them. Like Brand Builders Group. Right. We have about a thousand clients in our coaching program. I know I can't coach a thousand people. That's why we have full time employees. We certify them as strategists. It's what they do.

So where, where would software go underneath?

Usually software is kind of like, it's information. It's like an information product.

Gotcha. You know, so like email marketing service.

Or software, a lot of that tends to sort of stick in here. You know, that's kind of like a digital product in some ways, but it tends to focus more on like now any of them can be good, all of them is bad. The idea is not that you should do them all. The idea is that you should choose one. And we have to weigh the advantages and disadvantages. And when we take questions, this would be, somebody could could say, well, I'm trying to choose between these and we could talk through maybe someone's personal situation. So these are the only five ways to make money. Now the question is, how do I know which one is the right one for me or which one is the best one for me?

How do we know?

Well, we use another acronym. We say look for the dares. Okay? D A R E S. Okay. Now the dares are the perfect characteristics of a perfect modern day business model. So we are looking for things that are D digital whenever possible, automated. A automated. R is recurring. E evergreen. Evergreen. And S scalable is scalable, digital, Automated, recurring, evergreen and scalable. So if you look at, if people.

Can assess this for themselves right now and just think of what is my business model or all the different things that I offer. Am I offering multiple things? One thing, do I have 17 revenue streams or am I going all in on one things? If you just looked at that first, you'll have a clear picture of maybe why something's working or why something's not working. And if you look at this as well, is My stuff, digital automated reoccurring, Evergreen scale, var. Or is it only one of these things? Then you can also have some awareness around if something's working in your favor or not working in your favor. And now what to do about it. Now next.

And so as you weigh, if you were to take each of these and give them a score of like each of these, it sort of tells you like okay, what's the right fit for me? You would also add stress. We, that's stress score. What's the stress score?

So how would you do both those scores?

Yeah, like if, if you were actually going to do it, you'd go okay, so products, you go, how digitized is this product? How automated is it? Right. So digital means it's digital. There's no physical.

Someone buys it and they get it instantly. You don't have to ship something.

That's right. You're manufacturing. You're not sourcing materials. You're not dealing with warehouses. You're not dealing with shipping. You're not dealing with refunds. Well, you still can have refunds.

You're not dealing with like someone shipping back a refund physically and having a.

Restore to assignment like. Yeah, that you're not dealing with. That automated means it's self service. Like a vending machine technically is automated. Even though it's not digital.

It's, it's, it's got some automation to it but you still have to go and serve it.

You, you do once for a month, but you go, what's the level of automation here?

Yes.

How much is the customer dealing with it themselves versus you having to provide.

Laundromats Automated, but you still have to go refuel it every once in a while.

Yeah, yeah, yeah. So there. We've not found a business model that is perfect on all of these. We get asked that question a lot. So the best example because we do get this question a lot is Netflix. So Netflix is digital. There's no physical inventory. It's automated. There's no salespeople. The customer is completely self select. It's recurring. You pay for it every month.

Don't they have ads and spawn promotions though? Don't they have. They spend money?

Yeah, you got a. Sell it perpetually. But the revenue is recurring. As a customer, you pay the 10 bucks a month. It's evergreen. Because once a movie is in there, you never have to update the movie. But it's not evergreen.

This is the part you have to keep fueling it.

New content all the time. Otherwise people cancel.

Yeah, yeah.

And then it's pretty scalable, right? Like it doesn't, you add a customer, it doesn't like change anything. So you know, there's different scores now. Like a Laundromat can be a great business, but you know, you gotta look at the stress core. And I also say you gotta look at passion, right?

Do you care about it?

Do you want to do it? Like there's, there's lots of ways to make money and, but it's also like with your, does it align with your personal brand and what you, what you want to do? So that's all. Those are all factors to this, right? So we're just kind of weighing these out and, and some of them it's like for you, you were doing this. So we knew that you understood the world of digital, but it was like you were launching stuff constantly and it was stressful. It's a lot. And meanwhile, it's like the podcast is sort of taking off to go, well, what if we just did this and the advertisers were just paying and it.

Wasn'T even making any money really. Then it was like barely low on the lip. We weren't even thinking about ads or affiliates at that time. Just because we're like, ah, we just want to give it away for free and help people and we don't, you know, any of that stuff.

It was a traffic source to sell courses. Really what it was at that time.

Yeah, it was.

But yeah, so, so each person is different and you know, we look at, you know, all of these things to help you and that's why it's like we can't tell you what's the right answer. It's, it's, it's unique for each person.

It's a self reflecting process, an assessment. It's assessing for yourself. We had a few questions come in here. I wanted to get to some of these. As a real estate investors or even just realtors in general, which category are they in with the paid section?

I'd probably. Well, real estate agents for sure are down here in services. We work with a lot of agents because you're using your personal brand, not because you want to sell a course. You could do that. But most of the real estate agents we work with, they're trying to drive more listings or something like that.

And if you're a real estate investor, then what would that.

Probably a time I would call that's a service.

Really.

It's. Yeah, it's like you're selling the service of your time to yourself because you're. But it's like you're investing the money, you're managing the money. This is like a real estate investor is like a financial advisor basically. Right? Like your, your business is finding opportunities to make money. So I would, you got to go.

Out and source deals, be on the phone, you got to go look at properties, you got to vet them, you got to do all the due diligence.

And we love real estate in terms of, you know, if you look at, if we went back to your quadrant three about going, just how do you make money? Yeah, there's a few things that really make money. Right. It's like, first of all, I have a friend, a good friend of mine, Jason Dorsey, he says the money's in the money. You just want to get rich, manage money. Just be in private equity. Take a small percentage of big transactions. Like you make money managing money because you're a conduit.

You are.

Banks make money, credit cards make money. They're just, you know, Venmo makes money. It's just little percentages of these big pies. Big pies.

Or it's like if you want to make money, like solve rich people's problems.

Solve problems for rich people. Yeah, you sell private jets, you sell yachts or whatever. But real estate is the other one. That's really great. Yeah, you know, we also, we tend to be in like information marketing is a great one. And, and you know, there's network marketing. Like people can make real money. We have a lot of billionaires that we work with. The 100 millionaires that are in that space.

Yeah.

So there's lots of different ways to make money. So real estate is, is a great one. But yeah, so I would put that one here in terms of what's that category. But yeah, it takes work. The point I was going to make is there's no such thing as, like, there's very few things that are true passive income.

And someone is asking about, you know, between all of these, what is Evergreen? And I'll share that from my perspective with the business model. I have one episode that I do on the podcast is not news related. So it's not like time bound of like, oh, I'm going to get a lot of views because I'm responding to something that happened, the news yesterday or today. And therefore everyone's going to watch this, but then no one watches it later. I do Evergreen content on the school of greatness. So I find a subject matter, an expert, a celebrity, someone who's fascinating or coming out with a new book with new research or Science. And I have them break down that subject matter. This piece of content right here, this is originally being recorded live from a Money Mastermind, or, excuse me, Money mindset class masterclass. But this is being recorded and it will be up on YouTube and audio forever. And we'll be able to use clips of this on social media. We'll be able to continue to monetize this, putting it up once and making money on it forever, potentially, as long as the platform's around and they keep allowing for monetization. So I have videos on YouTube or audio episodes that continue to make dollars every single day from five, six, seven, eight years ago. Some of them make 100 bucks a day, some of them make 5 cents a day. Right. But it's one piece of content and it's supposed to be evergreen, where it can live potentially forever or very long periods of time. So that's evergreen. A book is evergreen in a sense, as long as it doesn't need to be updated constantly. As long as it's not, I don't know, around an idea that then there's new research and science that like breaks this idea and it's outdated. So as long as you make it evergreen, like this book is meant to be evergreen for, I don't know, a hundred years, because it's more around mindset. It's not about what's happening in the market today and how to invest for the next two years. It's not about that. It's about understanding who you are, how you interact with money and how to have a better relationship with money. And I think that's now and going to be in a hundred years. So this is evergreen. This content that you're listening to, watching is evergreen. This format of paids and dares is an evergreen ip, an evergreen concept, intellectual property. Right. It's your own IP that this will last for a long time. You could use this IP for decades and it'll still be relevant for people today and in 10 years. So that's the concept of evergreen. Do anything else? Want to expand on that?

I mean, you. I think you hit it. Evergreen means it doesn't need to be updated. Yeah, right. If I wrote a book about AI or a book about social media, it's.

Got to be updated every three months.

Yeah, I mean, it's like it's outdated before the book hits the show.

Exactly, exactly.

So that's what Evergreen is. We have another question. It looks like that came in.

Yes.

What?

Where do I find a good accountability partner and mentor? Well, I think the first Place you want to start with, I think is finding the information depends on where you're at. If you're broke, I think the best place to start is finding free content where you respect someone's ideas or their story or their career or their legacy of their life. Where you can go and learn from them for free. So I have that with the podcast, where I bring free content from people. You might be able to read someone's newsletter or blog post or watch their content on social media, read their books, things like that. Where you can start depending on the level you're at.

By the way, on the free thing, it's good to pay for things. And even if you don't have money, like, you should share, share Lewis's content, share the episodes, like comment, leave reviews. You asked for a review on the book, you can pay. That's generous. That's creating the generosity flow of like, thank you for this incredible free content. Let me share it with a friend. That's how you pay and start that flow.

But if you're in. You know, when I was getting started, I was using LinkedIn to reach out to local leaders. I was joining Toastmasters. We were both in Toastmasters and I found a mentor who taught me how to do public speaking in Toastmasters. I think it's like a hundred bucks a year or something like that. So you can find it by joining communities or local business networking groups. You can find local mentors who are even just a few steps ahead of you, who you can really learn from. They don't have to be billionaires to learn from them. But if you're in the entrepreneur, content creator, personal brand expert, you're a doctor, you're a real estate agent, you're someone who is building credibility in an industry. The best place to find mentorship, truly, is to do a strategy call. And if you just go to lewishouse.com brandcall the link is right here, you can get a free strategy session from one of the Rory's top strategists here at Brand Builders Group. So I would go there. If you're looking to build your business, your personal brand, your messaging, and expand your influence, whether you're a doctor, a real estate agent, a dentist in a local community, and you want to expand there, or if you're an author, a speaker or content creator and you want to expand to the world, your message. Sign up for a call right now and get a free strategy call@lewishouse.com brand call. Let's see if there's another question.

This is good Go ahead. So it says how to scale. As a doctor. Like I. One, one client at a time.

Okay.

Okay. So when you look at how to scale a service. So I'm going to, I'm going to answer this question specifically, but then it's going to trigger me for a framework that I think will apply to everyone. Okay. So for a doctor. And one of our clients is Dr. Gabrielle Lyons. She's amazing. She had her on your show before. She's, she's phenomenal. So any type of service, I think the two fastest ways to scale a service, one is you raise your price. Right. As a speaker, this is there. I, my, one of my revenue streams, my secondary revenue stream is speaking. Right. You raise your price. The other is you train other people how to deliver the service for you. And you run the marketing and sales engine to drive, to drive that.

Leads.

Yeah, you're basically driving leads and customers, but then you're outsourcing the delivery. That's what I do now at Brand Builders Group is, you know, I don't coach very many people one on one. There's a few. Right. There's for the right price, for the right price. And there's high profile people that I work with, et cetera. But many times I don't need to be the one because our curriculum is so tight and trained to our strategists, we can scale it and it, we can offer it much cheaper because it doesn't, it's not dependent on me. So that would be one thing. But for both a doctor and for, for everybody, I want to do another monetization framework. I don't. We've never talked about this before either. So this is, this is good. All right, so let me put this back up here. Lewishous.com forward/brand call. All right. This concept is something that we call fractal math. So this is, this is an advanced monetization strategy. And you know, if someone's a doctor, I think this is, it fits anyone who is like a real expert, they can, they can do this. So here's the concept of fractal mass. The concept of fractal math says that 10% of your customers will invest 10 times more.

Really? Yes. 10% will invest 10 times more.

Yeah. So watch this. So let's say that you have a, let's say you have a $30 product. $30 product. And you have a thousand customers who bought it, right? So you have a thousand customers. That is 30,000 in revenue. Makes sense, right? So you got, you got sort of like this Kind of situation. You got 30 customers or $30 product times a thousand customers is 30,000 in revenue. Now, if you said, how do you double your revenue? One obvious way is double your customers. Double your customers, which is how most of us would think go get a thousand customers. And that's not the raw. It's not bad or wrong, but it is the most expensive way to double your revenue.

And it's the most. The hardest, probably. Right.

And the hardest. And the reason is because the hardest type of customer to get a new one is a new customer. Also, the most expensive type of customer to get is a new one.

Yeah.

Inversely, the most profitable type of customer to get is an existing one. And so if you apply this concept of fractal math here, and you go 10% of your customers, which are these thousand. So 10% of a thousand would be 100 will invest 10 times more, meaning they would buy a $300 product. So now you have more, like, you know, this kind of scenario, something like that.

What is a hundred times three hundred is.

This is thirty thousand.

Thirty thousand. There you go.

So you just doubled your revenue. Here's what's wild about this. You doubled your revenue without adding a single customer acquisition cost.

You just made a new offering.

What. What. What's happening here typically is intimacy is increasing. Okay.

So more time, more connection to you, more access to you. More something where you're invested in them. Deeper.

Yeah, you got it. It's. It is. So this continues on, right? So you'd have 10 of these people would buy a $3,000 product. That's another $30,000 in revenue. And then one person would spend $30,000. Yep. $30,000 product.

One.

Yeah. And one customer over here.

And the grass keep. Yeah.

But you've quadrupled your revenue without adding a single customer. Right. So if we kind of go like this, right? This is this. And this is something like this.

Wow.

Now, so that is how fractal math works. This is for advanced people. Remember Sheehan's wall in the beginning, you want to do this. You want to.

Don't want to add all these.

You don't want to start with all this. You want to do this, and you want to crush it.

Max it out.

Max it out when that baby's running on autopilot, Right. And if you're a doctor, there's a good chance where you go, like. Like you've been doing it for a hot minute, and you're like, how do I scale? I'm starting to think about that. You go, okay, how many customers have you had over the years? Some number of people will invest 10 times more. This is what, you know, my doctor, now, I pay my doctor. We have a private physician. We just pay a monthly retainer, whether I use them or not. But they're there. Like, they're on time. They come to you, to me, whatever. Like, if, if they're, I need a script or something, like they do telehealth. I mean, they're just.

They're not waiting lines at a cvs. You're not going to like, none of that urgent care, or you're just like.

Hey, and by the way, so we haven't talked about this, but one of the most important concepts of. Of how rich people think is most people spend time to save money. Rich people spend money to save time.

Yeah.

And that's when you really get, when you get into that, a healthy relationship with money. And you go, my time matters way more than my money. I will spend money. That's why we hire people, right? It's like we're hiring people constantly because it's like, I need stuff done so that I'm not doing it. I'm spending. When you do coaching, when you, you know, this question somebody asked is a great one about a mentor. Why do you spend money? Because it's like, you could figure out how to become a New York Times bestselling author all on your own. It's probably going to take you 20 years. I can teach you in two days how to do it. Like, exactly. Here's everything you do, and that's when we've done it several times. Yes, same thing. You know, you want to be a Hall fame speaker. Like, we can teach you in two days. Like, here's the system. You know, real estate investing, you could stumble your way through it. You could pay someone, not us, because we don't do this. Somebody to teach you how to do it. So you're spending money to save time. And that's what people are doing here, by the way. So if you look at increasing price points, what we. What we typically look at is you go, here's how to either make an offer more enticing or to have them pay more. Recall this. Making it. Making your offer sexy. Okay, so what we want is we're giving people. People will pay for speed. People will pay for execution, which is, like, done for you. People will pay for exposure, and then people will pay for intimacy, which is, you know, intimacy, which is access. Sorry, I'm running out of space here, but intimacy. So I was talking Talking about intimacy here, but that's how you, you move people this way by increasing the speed, increasing how much of it's done for them, giving them additional exposure or intimacy and. Right. What's the e execution execute?

So like when someone executes it for you?

Yeah. So for example, so I just use brand Builders group as an example. Right. So like somebody's asking this question, would a brand strategy call work if I don't yet have clarity on my brand? I'm a viewer who wants to speak to young athletes and students. Absolutely. You're the, you're the epitome of what, what we do today has been all about money. Normally what we do is help people get clarity on what their brand message is, who their audience is, all that, what problem they solve first. But we were a strategy firm first. What's happened is people are like, okay, well once I get clear on the strategy, who do you recommend I use to build the websites and write the copy and like do all the marketing automation and build Facebook ads? And we have not touched it because we weren't able to. But now we have reached a point of scale over seven years. We now have 50 employees and, you know, we're an eight figure business. We now have something called instant automation toolkit where we can help people execute upon some preset number of things that we do. That's execution. It's like, oh, it's done for you. Right. So speed, execution, exposure, intimacy. And intimacy. That's how you increase. You either increase the price or if you were just doing this and you wanted to get more people to buy this, you give them these as bonuses.

That's beautiful.

That's what creates conversion.

And someone was asking, how can I stay encouraged when. When others doubt my passion driven work? Why? I think one thing spe more time with people that are encouraging you and less time with the people that are discouraging you. Or just don't talk to those people about your stuff. If they're constantly doubting you or saying, ah, you should be going for something else. It doesn't mean you have to remove these people from your life forever. It's just maybe talk about your passion work and your projects with other mentors, friends who are kind of guiding and encouraging you more and really supporting you. And you can also have a conversation with those that are discouraging you if they're friends or family and say, hey, listen, I know you're worried about me doing this or you've seen me fail in the past, but this is something that really lights me up, and I want to feel close to you. I want to feel intimate to you. But sometimes I feel discouraged when I bring this to you. My request is that when I do bring it to you, you be positive with me. You accept it. You encourage me, you give me good feedback and coaching. Or you just don't doubt me. You know, you can be neutral. Just don't kind of crap on my ideas. So that's one thing I would do, is really find a couple of good people that believe in you, that are your cheerleaders. And at the end of the day, you may not be able to find that, but you've got to be the one to be a cheerleader to you. Either way, there may be seasons of life in that space.

One thing on this, because this is an important question where you go, how do I stay focused on my passion when other people are discouraging me? One of the things that is so true about this, you'll. You will never experience haters who are further ahead than you are.

Yeah, that's true.

Like, people who are successful, they don't have time to hate on other people. It's almost always from someone who is not on the journey. And the other thing is, like, don't. Don't take discouragement from someone who. You wouldn't take their advice. If they haven't done what you've done, don't take it. Their opinion is irrelevant. Now, if they have done what you're trying to do, I actually would listen to that person.

Listen to them.

I would listen to that person. But it's almost never someone who has done the thing you're trying to do.

Yeah, Rory and I have never left a negative review on another author's book. Never. We've never said, this book sucks. I'm going on Amazon and I'm typing how bad they wrote this book, because we know how hard it is to write a book and put it out there. You know, I've never gone to a podcast and said, this podcast sucks on Apple podcasts, because I know that people are doing what they're doing, and I'm not even thinking about that. I'm not even thinking, how do I leave a negative review and criticize someone? It's not really my place to do that unless someone is asking me for feedback. But speaking of feedback, I am asking you for feedback. Go to Amazon and leave me a review for the book and let me know again if this has been supportive or helpful for you in any way today. Leave a review and let me know your thoughts. Buy a copy for a friend as well. And let's help people have a more empowering, powerful relationship with money so they can feel emotionally abundant and create the financial abundance as well. And Rory, as we wrap this up, I don't think we knew exactly what we're going to create today, but I feel like from the beginning, if we go back to the beginning, for everyone watching live or anyone watching this replay, this evergreen piece of content that could last forever, we talked about the relationship each one of us has with money and trying to identify it as if it was a person and what that relationship looks like feels like in our interaction with money on a daily basis. We talked about our beliefs and our behaviors that are in alignment with our beliefs and probably why we have the money or the life we have today and the energy tied into money. Then we went over a number of frameworks that you taught me seven years ago that have helped create me a level of financial abundance that I didn't have before, with the level of peace around that money and less stress of trying to do it all. And also, this is stuff that you've been teaching people for the last seven years now. You've helped over a thousand clients that you have currently. You've helped a lot of billionaires launch books, get clear on their message, their brand identity. You've helped people at the beginning stages, people who have already made it at bigger stages, reinvent and everything in between. And so whatever spot you're at, whatever starting point you're at, whether you've made it and you're trying to reinvent or you're just getting started, I highly recommend you go to Lewishouse.com Brandcall right now and just fill out the form. It's a quick questionnaire you can get on a free, I think it's like a 15, 20 minute strategy call with one of your top strategists who have all this information, who's also been in these rooms, worked with these big influencers. How many New York Times bestsellers have you gone through this process or coached in some way now?

Well, we've had, we've helped 60 clients become New York Times USA Today, our national bestsellers. We've had 12 of our clients in the last 15 months have become New York Times bestsellers.

Right, exactly. And you've helped people scale their revenue streams, their opportunities, but again, just drive.

Leads to their business. I mean, it's just using your personal brand to get your expertise out there just like you do, adding value to the world, building trust at scale and Driving those as Warren leads into your business.

Exactly. So whatever point you're at, if you're looking for more emotional peace, you're going to get the frameworks from Rory and his team about how to get clarity on your business, which will give you more joy and peace emotionally, and not stress of trying to figure it all out. And if you're looking for more financial abundance, the same thing you'll get by going through the process and executing it when you sign up for Lewishouse.com Brandcall. So whatever point you're at, you're at the right place. Get signed up. And I want you to share below in the comments on YouTube or on social media, your biggest takeaway from today. Maybe it's something we said in the beginning, maybe it's one of these last things. Maybe it's one of the acronyms. There's all these different things. We've got pages of frameworks here. But what was the thing that stood out the most for you? Leave a comment below. I'm curious where you guys are at and how can we continue to support you moving forward. If you have a question, and if you want to learn something new about building your personal brand, your business, or your mindset around money, leave that question below and maybe we'll do some more content then in the future. Other than that, guys, thank you so much for being here today. We hope this has been valuable. I want to thank Rory for allowing us to use his incredible space here at Brand Builders Group. This again was the Make Money Mindset masterclass. The new book is out right now. Make sure you guys grab a copy, go to Amazon, go to your local bookstore, get a copy right now. If you already have one, get one for a friend. Go get one for a friend that you want to see. Continue to thrive in their emotional abundance and their financial abundance in their life. And please leave a review over on Amazon or Goodreads or wherever you want to leave a review. And with that, I appreciate it. Rory, any final thoughts around the biggest takeaway for you or that it's something that opened up for you from our conversation, whether something I said or something you said?

Well, I think the way that you present that metaphor of think of money as if it were a person. If you learn about the person, you care for them, you serve them, you treat them well, you're going to have a great relationship with that person. One thing that dawned on me that we didn't talk much about is those people who are in that quadrant two. Sometimes they think it's like Unholy to have money. But yeah, there's a great story right out of Jesus's mouth. It's the parable of the talents.

Yes. So good.

And, you know, basically he says, you know, if a master were to leave in. In leave his household, and he leaves, you know, these three people, these talents like money. He gives one guy five talents, one guy two talents, and another guy one. And he comes back years later, and the guy has five talents. And he says, you know, what have you done with these five talents? He said, I turned it into 10 talents. And he says, well done, my good and faithful servant. May you be blessed. And then he goes, the guy with two talents, he says, what have you done with my two talents? He said, I turned it into four talents, you know. And he says, well done, good and faithful servant. And then he goes to the one with one talent, and he says, what have you done? And he said, I was scared of losing your money. I know how shrewd you are. So I buried your talent, and here is your one talent return. And he says, you wicked and lazy servant, take your one talent and give it to the one who has 10 talents. Because he who has done well what has been given to him will be given even more. And he who has not done well with what he has, even what little he has will be taken away from him.

Wow.

All of us have. Whatever your spiritual beliefs is the power of God inside of us. We're creators. We're multipliers. We don't need to hoard money. We have a God that provides for us and cares for us. Right. Says right in the. Jesus talks about this like, God provides for the birds. The birds don't store up anything, and he provides for them. God clothes the flowers with beauty. They don't do anything. He provides it to them. So we're. We're the beneficiaries of a God who can bless us abundantly. Our only job is to take what we've been given in terms of our time and our talents and go out and serve people and help. So I would just say, serve, create, expand, multiply. That's how you make money easy.

That's a beautiful, beautiful way to close it up. So, Rory, thank you so much for your service, for teaching us, for helping me and my journey. I appreciate you guys all for being here, and we'll see you in the next interview. Thank you so much for watching this video. I hope you enjoyed it and let me know in the comments below. Your biggest takeaway, if you haven't subscribed to this channel, make sure to click the subscribe button right now like this video. And also if you're looking to create more financial freedom and live an abundant life, then make sure to get the new book Make Money Easy right now. The link is below. Go right to Amazon, get your copy and I can't wait to see you in the next interview. The first rule of entrepreneurship is you.

Use what you have.

And so that's because everyone focuses on resources rather than resourcefulness.

And so every self made billionaire and millionaire was in the exact same position as you because they were self made, which means that you have the same exact ingredients they had, which is nothing, but also nothing to lose.