7 Rules for Being Rich and Happy with Roland Frasier

Hey business lunch listeners. Welcome to today's show. Today's another snackable episode with Roland. These are bite sized episodes that you'll probably end up listening to over and over again because they're filled with so much value. But before we get into today's show, we have to give a special thanks to another listener who left a rating for the show. And this one is from Chava Castillo. They said, I've been listening for a while and the podcast is amazing. But I just heard episode 290 about TNC. I was there and remember seeing Ryan walking on the event floor angry. And I thought, why would he be angry? The event is going amazing. Now that I hear everything going on behind the scenes, it makes sense. But being my first TNC and following both of you in DM for years, I just have to say all of you do amazing stuff for us and we appreciate it. And Chava, we appreciate you. Thanks so much for being a part of the business lunch community and leaving us that amazing review. If you guys have enjoyed listening to the show and have an extra minute, we'd ask you to please consider leaving a rating on your favorite podcast platform. Now we're going to get into this quick snackable episode with Roland right after this break.

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Hey, business lunch listeners. If you want to scale your business, you have to know what's working and what's broken. And to date, Ryan and roland have started 13 companies from scratch. They've funded a dozen more and directly advised hundreds of CEOs and entrepreneurs on how to grow and scale their companies. And over the years, they've identified the eight key domains that allow a business to scale to eight figures and beyond. And they use those eight areas to help entrepreneurs and CEOs find their current strengths and weaknesses and understand the constraints that are getting in the way of them scaling. So if you want a quick and accurate look at what areas you can improve to scale your business faster, go and take our scalability assessment. It's an assessment that'll show you exactly where you need to focus to scale your business and achieve even your loftiest goals. In just five minutes, you'll know your exact scale constraints and you'll get instant, actionable steps on how to improve your business. So go to businesslunchpodcast.comScore to take the free assessment one more time. It's businesslunchpodcast.comScore.

Hey, look, I've got seven rules that I follow when it comes to Money. So the very first one of those is invest in quality over quantity. If you're buying a stock, if you're investing in a company, if you're trying to buy a suit or an outfit or clothing, anything in life, if you invest in quality over quantity, you're going to be happier. Quality lasts. Quality gives you greater utility, quality generally gives you greater happiness, and it's way fewer problems. So, so think about when you're making a decision between something or between a few things, and one thing's a little bit more expensive. Go for the quality thing or wait and save until you can afford it. It'll make you so much happier. So rule two of my seven rules of money is that you want to always invest in yourself. Your biggest investment that's going to pay the biggest dividend is always going to be to invest in yourself. Whether that's to have a great coach, to be part of a mastermind of successful people, to educate yourself through books, courses, or other trainings. Whatever it takes for you to invest in yourself, that's going to generate the greatest returns. Because you are a renewable resource. You are able to take your skills anywhere. And the more of them that you have, the smarter that you will be about making choices and the more options and choices you'll have. Always invest in yourself. The third of the seven rules is use a barbell investing philosophy. That's where you want the bulk of your investments. 90% of the things that you're investing. You want to be conservative. I've got a lot of money in cash just so I can take advantage of huge opportunities when they come, but also invest in other conservative things on the other end of the barbell. There's nothing in between. Don't invest in kind of so, so risky things. The other side of the of the barbell is make small bets with about 10% of your total investable money in things that have the opportunity to pay off in big ways. That might be crypto, it might be NFTs, it might be IPOs, whatever you like. It might be angel investing, it might be investing in your own business, but that barbell investing is going to make all the difference. You're going to preserve 90% of your cash. You're going to always have about 10% at risk. But a few of those 10% bets are going to pay off at 5, 10, 50, 100 times what your initial investment was. And that'll make all the difference. So the fourth rule of my seven money rules is that you should be thinking in buckets so that Means that you should have a bucket for cash. You should have a bucket for philanthropy or doing good for the world. I think you should have a bucket that goes to doing things for your family or with your family. You should have a bucket for travel and kind of entertainment, discretionary expenses. You should have a bucket for savings. You should have a bucket that's a cash reserves. And you might have more than that, but typically those are the buckets that I work with. And then you allocate every month, I'm going to put this much, this percentage of the money that I get that comes in is going to go into each of these buckets. And if you pre allocate that, then you'll always have money for savings. You'll always be building your investment, you'll always be thinking about doing cool things for entertainment. And it's a really great way to manage your money. Think in buckets. Rule number four, Rule five is that your business should always work for you, not the other way around. What does this mean? I see so many people who, they get into a business and they stick with it no matter what because they don't want to fail. And that's a terrible mistake. Because if a business isn't going to perform, you give it a certain amount of Runway, you give it a certain amount of capital. And if it's not performing, you don't keep failing. Feeding it, you let it go. Let the business go. Remember, the business is there to work for you, not the other way around. If it's not working for you within the time period and the capital you've allocated to make it go stop, don't keep investing in it. It will change your life to not spend all your time working in businesses that really shouldn't exist. Rule 6 is use the money that you make first to buy back your time. Buy back your time. So whatever it is that you're doing right now, from washing or walking the dog to mowing the grass, to doing your laundry, to cooking meals for yourself, whatever it is, doing your checking, all of those things are things that you can hire other people to do. And if you don't enjoy them or if they are worth less than what you can do with your time, which spoiler alert, they really are, then you get somebody else to do it. You can pay somebody else to do that and that buys back your time so you can spend your time on, on more important things. So rule six of the seven rules of money buy back your time. Rule seven is that, remember this is more of a mindset. Rule Right. Money is designed to provide you with freedom and options. Money is just a store of value so that you can do things in the future. That means it gives you options to do whatever you want to do, and it gives you the freedom to choose and not have to spend that much time making money. So if you ever find that the pursuit of money is costing you your freedom or it's limiting your options in a negative way, then don't do it. Use that as a guideline. That should be a rule that really governs all of the things that you do. Let money only provide you with freedom and options. Don't sacrifice freedom and options to get money. That's rule number seven of my seven Rules of Money.

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Hey Business Lunch listeners. We're gonna get right back to the show, but Roland wanted me to invite you to a brand new training that he's doing on acquiring businesses with no money out of pocket. It's something that he's talked quite a bit about on the show, but he's doing a free training where he's gonna walk through the entire process. So if you want to get access to that, go to businesslunchpodcast.com epic that's businesslunchpodcast.com epic and you can get sign.

Ever wondered how some people build real wealth through acquisitions while others just sit on the sidelines? Well, I'm here to tell you it's not about luck. It's about having the right system, the right deals, and the right guidance. And that's exactly what we give you in the EPIC Deal Fast Track. If you've been thinking about buying a business, but you keep getting stuck, whether it's finding the right deal, structuring the financing, or negotiating with sellers, you are not alone. Too many people waste months, even years just thinking about acquiring a business while the real opportunities pass them by. The EPIC Deal Fast Track is not another course. It's actually an implementation program and it's designed to get you from the idea to the acquisition in just 16 weeks or less. We work with you one on one to help you find, fund and close your first or next deal. And once you do, we're going to plug you into our elite EPIC board community so that you can keep scaling through acquisitions. We install three powerful systems in your business. The first is the Deal flow engine so you always have high quality off market deals coming to you. Number two, we give you our offer and funding system so that you can structure offers that get accepted and fund them creatively many times with no money out of your own pocket. And number three, our closing and integration system so that you don't just buy a business, you actually successfully run and scale it once you have acquired it. Plus you'll have direct one on one support from an epic deal advisor every step of the way and that's people that have actually come up through this system and done these deals themselves. That's the only way to become an epic deal advisor. And if you're serious about acquiring a business this year, don't just sit on the sidelines. Just text I'm in to 334-458-9034 and we'll get you in. So text I'm in to 334-458-9034 will get you in. No fluff, no wasted time, just real deal making from people that are actually out there doing deals right now. I'll see you there.