Taylor Welch Shares His Business Wisdom On Building Eight-Figure Companies

Hey, it's Mark Podolski, the land geek with a favorite niche real estate website, thelandgeek.com and on this week's Art of Passive Income podcast, the team is off. It is just me and I'll put on my anchorman voice. He's a big deal. Taylor Welch. Now, if you're not familiar with Taylor, he is the founder and CEO of a portfolio of online brands making the world happier and smarter. Since his first company he In 2015, he has helped over 150,000 individual customers and clients grow their influence and their profits. Today, he specializes in helping experts transition from the full time workplace to part time consulting using an array of proprietary models and frameworks. Oh, and by the way, he's. I don't know, how many, how many businesses have you built, Taylor? Eight figures.

Four. Four.

Eight figure businesses. He's so humble, he's not even talking about his entrepreneurship. Taylor Loach, welcome to the podcast.

Amazing intro. Well done. Your anchor voice never fails you.

Thank you. Thank you. So Taylor, let's just rewind the tape. And how did you start and build and sell your first company and then get to the point where you've transitioned now to helping other people?

So I actually was not an entrepreneur growing up. I never had aspirations to be an entrepreneur. I did not even really know what entrepreneurship was, if we're being honest. When I got married, I was working at a church and my wife was a hairstylist and rented a booth and a salon and, and for the first time when I met her, I was like, I didn't know that there was a world where you could make a living working for yourself. I just had never thought about it. So, long story short, I transitioned away from full time ministry into real estate through a firm in Memphis, Tennessee. At the time it was called Memphis Invest and I took over property management. And it was about six months in that the owners of the company, they recognized something in me and they said, if anybody can learn it, Welch can learn it. They called me Welch because there was another tailor that worked at the firm and they asked me if I would learn a tool called HubSpot, which at the time was a lot lesser known than it is today. So I got into it and for the first time discovered marketing through having to learn HubSpot. And it was a ravenous journey from there to learning copywriting, to learning direct mail. And you know, when I was putting the pieces together, learning the HubSpot, I started thinking about my wife and I was like, I think I can help her get More clients using marketing. It was this novel brand new idea for me. And so we tried it. Our first campaign worked. She did get clients from it and it was all over from there because that was the moment I connected my ability to work with an increased capacity to earn. Never before had I connected the two together because I had been on hourly rates and there was not a direct connection between if I do a better job here, I will make more money. And so I was at the real estate firm for another eight or nine months and the owners knew they could see it coming, that there was like an entrepreneurial bug with me. And from there we started. The first consultancy was called Traffic and Funnels. It got really big, really fast. We started another one, it got really big. We started another one, it got really big. And so I actually just transitioned out of that about two months ago. And a brilliant young CEO who worked with me years ago at Traffic and Funnels and he is running that brand. And I've got a carry in it. And so I'm still a partner in the brand. I'm just not running it anymore. And so that's kind of the story compressed into as short of a time frame as I can give it to you.

No, it's fascinating. And so when you think about marketing, because obviously you are an expert, how do you think about it? Philosophically.

It'S the slow but steady moving of the needle on your reputation with your target market or your addressable market. I think that in the past, marketing has been the ability that a business has to create its own Runway, to create your own growth curve in the future. But today there's so much out there in terms of selection and opportunity and competition and attention, and everything is shooting to maximize this three second window. That marketing, I feel like, is moving more to the underground. It's becoming more of a like reputation item. Like a good marketing team stewards the reputation of an organization.

A good marketing team stewards the reputation of an organization. So that's a profound statement. Can you elaborate a little bit more on that and even say what you're seeing as a mistake in the marketplace that you see regularly?

Yeah. So the elaboration would be how do you compete for market in an environment where the consumer has unlimited options, how do you compete? When Sam Walton was building Walmart, the landscape was relatively simple in that if you can lower the price and show up just where people live, you win. And then Bezos, who studied a lot of Sam Walton, had to change the game because he had to utilize the Internet to use the same principles, showing up where somebody lived didn't mean putting a store in their city, it meant showing up on the Internet where they are. And so now we've come through several cycles of this where today people are constantly connected, they're constantly being exposed to brand messages, market messages, sales messages. And so the way that a marketing team can penetrate into an environment now is to, instead of focusing on finding customers, it's naturally we're moving towards creation of customers. And how do you do that? You look at your customers and your clients right now and you ask this question, who were these people four years ago? Who were these people three years ago? Where were they? What did they want? What were they doing? And you begin to put out messaging and material that speaks to the version that they were years ago. And you tolerate a longer path, you tolerate a longer conversion cycle. The days of trying to compete on a 24 hour conversion or a three month conversion conversion or a six month conversion cycle, that's fine to do, especially with the startup. But the brands that are going to dominate long term, they'll wait years to convert a prospect to a customer and they will continue making an investment into the development of their market until that market flips into what we call sales qualified lead territory where they're actually going from a prospect to a customer. Does that make sense?

It does make sense. I'm just a little confused about why are we in our messaging re rewinding the tape of what that person was like three years ago as opposed to what they aspire to be three years from now.

It's the same thing, it's the same conversation, it's the exact same thing. Because the clients you have right now, they were aspiring to be the version they are now years ago. And so you're showing up in the sales cycle earlier is what we're doing. And so picture this, picture two scenarios. One, marketer is obsessed with the current, and they're obsessed with the current version. What's the problem that's being solved right now? How do we fix it? Let's say that 5% of the market is inside of that category. 5% is like, I'm actually looking for a solution, I want it fixed right now. And then marketer number two is focused on the middle 60% that's not currently experiencing the problem, but they know that they will at some point. And so what Marketer 2 does is they begin publishing a curriculum, say a newsletter, say books, say random materials that are not random, but they're blog articles or content or video on YouTube or whatever. And they've got 100,000 people that for 18 months have been watching their videos, buying their books, opening their emails. And then all of a sudden they wake up one morning, something happens in their life and they become problem aware. They're looking for a solution to a problem. Marketer 1 and Marketer 2 both solve the problem. But Marketer 2 has been involved in this person's life for 18 months publishing content. Who are they going to pick?

Marketer 2.

Marketer 2. Now, when you ask the question, why would they pick Marketer 2? The answer is not because of the sales message. The answer is not because of the video sales letter. It's not because of the copywriting. It's not because of anything outside of the fact that Marketer 2 played a relationship game and went back into time before the customer was ready and invested into the prospect. And so the brand reputation, brand affinity, belongs to marketer number two. So this is why I'm saying, what I'm saying is the marketing team's job is to steward the reputation of the organization. And the way that you do that is through brand affinity. And so direct response as we know it, which is like send a letter out, put a coupon in it and track it, there's a place for that. But it's severely minimized and throttled to the top 2 to 5% of people already looking. If you want to take over the entire market, you go after the middle 50%.

Totally makes sense. So I want to transition from marketing now into one of my favorite topics, passive income. Tell us a little bit about your passive income strategies or favorite passive income methodologies, if you will.

Yeah, first and foremost, I'm in a season of my life where I'm mostly interested in de risking the things that I invest in. I understand that there's a modicum of risk in everything, but I got to watch at the real estate firm pretty much every single thing that can go wrong with an investment. And it didn't happen often, but it happened every once in a while almost at random. And you know, the, the key things that I'm looking for today is how many ways can I de risk a deal. So, for example, I'll give you an example. There's a medical facility in, in Missouri. And I just bought this building. It's triple net, it's low cash flow. So it's like the 6 cap, but there's a 20 year lease on it. The lease is PG'd by the tenant and it's also PG'd by the owner of the, of the management company. So there's two PGs in front. It's rent is paid up front. You know, I've de risked that deal 17 different ways. Like the, it's a medical building, so they've been in business for a really long time, things like that. Or if you can go in and collateralize the deal against the assets of the owner or collateralize it against cross collateralized assets. That's my focus today is, you know, I have many ways to make money. My priority is not losing the capital that I'm arbitraging into the market. So certain deals I do for cash flow, certain deals I do for tax liabilities, certain deals I do for long term irr, which is different than cash flow. So another example, we're developing condos here in Nashville, Tennessee. And the IRR on that is like 37% over the next five, six years. And so that's a strategy that we're multiplying and multiplying that capital. The cash flow is only 10%. So the cash flow is pretty low, but the multiplication is really high. The medical facilities and the franchise buildings, those are small cash flow, but they can write off a really large percentage of them and not have to worry about them. And then you've got really fun deals in the middle. That's a 60 day hard money collateralized against another property that's 20 points or 20%. And those are like the cash flow opportunities that you can pull in, but the money is not multiplying, it's just paying you a return. So kind of three different types of deals that I'm focused on right now.

Okay. I love it. I love it. All right. When you have this much success and you're so young, it's interesting how you've started this podcast called Daily Mind Medicine. And actually Derek Gelbert was listening to your podcast and he's like, okay, you got to get this guy on your podcast just from listening to Daily Mind Medicine. Usually it's older people that, that sort of figure out like, hey, there's nothing externally out there that's really going to make me, quote, unquote, happy. It's an internal game. This is a mind game. What was the genesis of starting the podcast and what do you hope your listeners get out of it?

So the genesis is a great question. We were, it was right before COVID it was like January 2020, and I started talking to some of the people on my team about feeling like there was a need in the market for teaching people how to think just Good old fashioned, helpful curriculum. And I grew up. My dad was. Was upper. Upper management at Allstate Insurance, and he used to drag me to all of the conferences, and I would sit and listen to John Maxwell and Patrick Linccione and some of the great leaders of our path. I grew up listening to Zig Ziglar and Jim Rohn. And so I kind of cut my teeth on this idea of, like, it's your philosophy, it's not your circumstance that ultimately wins the battle. And so it was providential in that two months after we started talking about the podcast, the world broke and Covid happened, and everything you saw, everywhere was negative. It was the end of the world. Everywhere. Every news channel, every outlet. And so we released Daily Mind Medicine in the middle of the pandemic. And it grew really fast, I think, because everyone was. It was a relief. It was a relief to listen to somebody talk about ways to actually prosper in the middle of what people were calling an economic meltdown and a crisis. I think that my goal today. And we run a. We run a mastermind. I run several products, and one of the Mastermind products is called the Arena. It's the Arena Mastermind. And every Monday, I go live with my team and my faculty, and we break down. If you don't want to change the screen. But I've got, you know, 60 biographies here up on the wall. Churchill, Roosevelt, J.P. morgan, Einstein, Thomas Jefferson, Winston Churchill, Napoleon. It's like, you look at these people's lives and they're so much harder than our lives. Like, way harder. Like, one of the books that I'm about to teach on is Frederick Douglass. There's likely no one alive right now that went through what Frederick Douglass went through. But, yeah, we get trapped in our own perspective and we're like, this is the worst thing they could ever ask is like, no, no, no. You don't actually have a circumstance issue. You have an issue of perspective. You don't understand what's come before you, and therefore, you don't have depth perception or context into what's happening right now. And so we go live every Monday and we teach on this idea of thinking, how to bulletproof your thinking, how to upgrade your thinking, and how to ultimately win in the mind. Everything starts in the mind. It starts with the thought. And if you can think the right way, it will change the biology, it will change the chemistry of your entire body. And people take it for granted. And so daily mind medicine is kind of a supplemental tool to invest in your thinking every single morning. And it's totally free. And it's like, as you know, it's three minutes or four minutes. It's not a huge time investment. But we've gotten these crazy messages, people saying, I was going to take my life. And I heard an episode that a friend sent me and I didn't. Or my wife divorced me and I was going to end everything and I didn't. And all of these crazy, crazy stories about, you know, I found myself just, if I can go a day at a time and if I can get one episode at a time, then I'm going to be okay. And so ultimately, that was the goal. Like, I achieved the goal of, you know, helping people dial in their thinking. And what it's turning into is, you know, we're taking pieces now of the arena. Yesterday we talked on the realm of quantum, because people get trapped in Newtonian logic, which is linear. But when you get into the realm of quantum, it's energy. It's the compound interest of thinking properly. It's exponential. And we had hundreds of people on a call yesterday just crying, not from a place of conviction, but it's like, I can do this. I can do anything. And when you figure out that you can literally do anything, you can think, you think it, you can make it, your whole world changes. And so that's kind of the long way around to kind of tell the whole story of where it came from.

Yeah, I know. I love that. And, you know, you're really preaching to the choir with, with me and, and our audience, because the majority of the people listening to, to me in the podcast, like, I'm not like a Gary Vee or a Grant Cardone guy, where it's like hustle, hustle, hustle. The coach of hustle. It's more, let's step back and let's really create a framework for our lives where we could be happy, smart, and useful. All three. And not just smart, useful and just hustle and hustle, hustle. And really having that perspective as well that how lucky we are. We had a 2 and 7 chance of being born in China or India. And oftentimes, if I'm depressed, I'll think, well, what would it be like to live in a slum in India and yet and then be transformed into my life now or transported to my life now, like, and have that eye, those eyes. Like, everything would be amazing. Amazing. Just to get clean water so easily would be amazing. So I, I really love what you're doing there with, with that podcast, which leads me to, in the beginning before we, we talked is that you're a second mountain person. And you're like, what does that mean? Well, there's this brook by David Brooks called the second mountain. So the first mountain is egoic. And you, you know, your parents like, hey, get a good education, get a good job, get the nice house, get a nice car, go nice vacations, and you get to the top of the mountain and, and usually we're doing this, you know, before midlife. And then you get to the top mountain, you're like, oh, this is empty. And then so you go to the second mountain. And the second mountain is purpose, it's vocation, it's community, it's faith. And it's a harder mountain to climb, but it's a more internal mountain and it's more other focused. And so that's what I'm saying. Like when I, when I read your material and I look at what you're doing, you are more a second mountain person. My question, Taylor's number one, would you agree with that that there are two mountains that people climb and that when people are ready to go to that second mountain, what has to happen in their lives? Like, what did something happen in your life? You're like, okay, I'm ready to hit that second mountain?

Yeah, I would definitely agree. There may be even more, I don't know. But for me, I think the catalyst is the first few years of my journey. We could define them as just being transactional. There was a transaction in place and I was doing certain things for a good cause, but mostly it was to produce a certain output or a certain yield. And to an extent, I think people, you can't ever avoid 100% of transactional nature because there's always a reason or a rhyme to doing something. If you're making an investment, my hope is that you're investing to produce a yield. Well, that's a transaction. You're being transactional. But when it comes to living and like the sale on your life and setting that sale missionally rather than transactionally, you become a different person and you begin to make investments for non monetary returns. And so I don't think that it was like a conscious choice for me. My daughter was born in 2019 and obviously I think I achieved everything I wanted to achieve. And ultimately what I found out is that the way that I thought I would feel after achieving it, I didn't feel that way. And so it made me start digging and start thinking. And I realized that I'm working 100 hours a week and I'M pushing myself uphill, and I'm doing it all for my family while not seeing my family. And then once I arrive at the destination, I'm going to return to doing this. It doesn't make sense. It's a cyclical spiral. You know, it reminds me of that story of the guy who was, you know, he's. He's at this old village and there's somebody fishing. And he's like, you know, you could figure out how to sell these fish. And he's like, but why? He's like, well, because then you could sell the company and you could retire. And he's like, well, why? Because when you retire, you can come back here and fish. And he's like, well, that's what I'm doing right now. It's like, why are we doing this? What's the point? What are we pushing for? Ultimately, what I found for me is I didn't have that answer. The answer was not good enough. It was unworthy. It was insufficient. And so what I did is I fixed the answer. And the answer is no longer about me. It's about living fully. It's about enjoying the moments in between. It's about never missing a dance recital or a baseball game. It's about making sure that my wife has options. It's about making sure that I can choose whether I'm going to go into an office or not. It's about creating momentum in the areas that are most important. It's about being obedient to my mission and my calling. At the end of the day, more money doesn't equip or qualify you for your calling. And money is a byproduct of somebody being in alignment with their calling. And so there's a lot that, you know, I have gotten healthy from over the past couple of years. And I think the key takeaway here is if you can zoom past out to the end of your life and you can think about what are the most important moments or memories that you want to have as you are passing. The beautiful thing is that you can engineer those moments and memories now. You don't have to wait. And then any regret that you can imagine having at the end, you can prevent those regrets now. You don't have to wait until it is too late. And so that was a big moment for me. Everybody experiences hardship. Everybody experiences failure. But I've been fortunate to experience both winning and losing early on. I'm 33 years old. I have a long road ahead of me. And what I don't want is I Don't want to waste the next 20 years chasing some target that was never a good target. I want to make sure the target's right. That makes sense.

No, I love that. And, you know, it's. It's so funny because that Mexican fisherman story is actually in my book Dirt Rich. And I actually start every one of my boot camps with that story. Setting the stage of, why are we creating this passive income? Well, it's not to become a multimillionaire. It's the concept of enough. And once you have that, then you can really start going deeper into those things in life. Right? Because at the end of the day, it's all about relationships. But if you're constantly hustling, you won't have any of those relationships, and you'll look back on your life with regret. So you're writing a new book, and you say in this new book, you have a quote from.

From.

From Jim Rome. Don't. Don't join an easy crowd. You won't grow. Go where the expectations and the demands to perform are high. Jim Rome. And then you say, our greatest contributions to the world around us are made during our happiest and most blissful moments of existence. Therefore, we have a moral obligation, a duty, to engineer those moments as frequently and routinely as we can. Can you elaborate on that?

Yeah. It's the idea of being in flow and the idea of making sure that when you are, like, on the playing field and you're in the arena or you're on the court, when you are pushing yourself and exerting the effort necessary to move things forward, that you are engineering the arena or the game in such a way that the exertion is pleasurable. That it is. It feels good. Nobody wants to. I tweeted this the other day. The fastest path to burnout is to build something you don't care about. And you can accelerate that process by building it quickly. And it's just a simple idea. If you want to exert effort into something you don't care about, you're going to burn out. And then there's no bliss in that, and there's no pleasure in that. And likely there's not a lot of impact either. The winners, at the end of the day are the ones not who are sitting on a beach doing nothing, but who are exerting all of their effort to a worthy cause that they really care about. And it makes the game pleasurable. And if you're not enjoying the process, you're doing the wrong process. You're playing the wrong game.

Yeah, there's a concept. I'm gonna completely butcher this. I think it's called ooi day. I don't know if you're familiar. It's like this Asian concept of effortless effort. Are you familiar with that?

Yeah, yeah, I have heard of that.

Do you remember the name? I can't remember it.

I don't know what it's called. But it's the difference between something being easy and effortless. And I think that people look for easy and it's not possible. But if you can have something effortless, it really has to do with enjoyment of the process. So it could be effortless to go to the gym, because you love the gym, but it's not easy. It requires push and resistance. And in fact, the more you get into it, the heavier the weight becomes, the more enjoyable it is, the more it feels good, especially the day after. And so that's this idea of bliss in the workplace. Find things where you can push yourself and it is enjoyable to do.

So that's the game, and business is tough. Let's just play devil's advocate, Taylor. What types of things are you doing on a daily basis to help you become cognizant of, oh, wait, this thing that I'm doing right now, I have no joy. There's no flow. How do you pivot?

Well, I think the difference between. So think about drag versus resistance, and the goal for every entrepreneur or everybody doing anything should be to eliminate drag, but you can't eliminate resistance. And what's the difference between drag and resistance? Well, if you move through and you are passionate about the destination, and it's likely resistance, and you just have to push through it. Drag, to me, and this is something I discovered in my last season, is when you're pushing through resistance, but you do not care about the outcome. If you can wave a magic wand and arrive at the destination, you wouldn't care about the destination anymore, which is why there's drag, which is why there's burnout. But when you care about the destination, you're passionate about the destination, and it becomes resistance. And resistance converts to fuel. The more problems you have, the more powerful you have when you're on the right direction headed towards the right destination. So to me, it's really more about, like, can you get an alignment with the outcomes or do the outcomes not matter to you anymore? And if you've lost passionate about where you're headed, then nothing's going to change how it feels getting there.

Yeah, it totally makes sense. What advice do you give to these 20 somethings that want to be Taylor Welch and they want to, you know, have three eight figure businesses, they want to have exits, then, you know, quote unquote, be happy.

My advice would be to don't do it. My advice would be to pick one business that you really care about that you can see taking it through all the way because you may make more money. But you know, like right now I'm just doing one thing. I'm not really doing multiple things. I'm building the wealthy consultant. I am helping my clients maximize their market impact. I'm doing one thing and you know, everything else that I have ownership in is a minority ownership. And so I don't think I'll ever go back to that place of running seven things at the same time or even four things at the same time. My advice would be if you're wanting to be Taylor Welch, be Taylor Welch now, not Taylor Welch two years ago. Because what I've learned on the other side of the whole thing is that it's easier to be happy when you're effective and it's easier to be effective when you're focused. And therefore your happiness can be tied back into your focus. And the more things you have to focus on, the less happy you're going to become.

And how do you define happy? Because when I think of happy, I think of this momentary feeling that comes and goes and is sort of, you know, impermanent. And then I'm constantly chasing that next feeling, almost like a drug addict. I don't get the sense that's how you're defining it. How do you define happy?

Happiness to me is defined as being a be present and grateful for the state that you were in and the place that you're in and the work you get to do. And so it's not a dopamine hit, it's not chasing dopamine. It's a state and it's a decision. You can make a decision to be happy every single day. It's an interesting thing to define because I believe that once again, when somebody is transactional, it's impossible for you to define happiness appropriately. Because you're happy when things are good and you're unhappy when things are bad. They give so much control to their internal state dictated by their circumstances. But to me, I'm making less money now than I was a year ago, but I'm making more money than I was four years ago. Well, it depends on the timelines, right? So many people get caught up in these weird self perpetuated timelines. If you look at my life, six months from now, I'll probably be making more than I am right now, but I'll probably be making less than I was a year ago. It doesn't matter the end of the day. What matters is, do you go to bed at night and are you like, dude, I can't wait to wake up tomorrow morning. I wish sleep wasn't even a thing. Can you get yourself to that state where you're vibrating at that level? You're happy, you're going to achieve some pretty incredible things that way.

I totally agree. Just to push back on you, imagine someone who has four kids, they're single mother, they're listening to this podcast, and they're in debt, and every day feels like a struggle. How do they turn that mindset around so that they can find the joy, they can find the happiness, they can find that flow, and when they change that vibrational frequency, you and I both know they're going to get what we call money and they're going to get out of debt and they're going to be able to provide more value because they're not in this state of perpetual stress. Think of somebody holding the steering wheel too tightly and they can't turn. Then they kind of relax and like, oh, now I can move. What would your advice do to that person?

You have to choose who you're going to become and how you're going to think that's a choice. And so I would say what systems are in your life that are telling you who you're going to be even when you don't feel like that person? For me, it's the morning formula. We don't have time to get into that today, but at some point we can do some training on that. But it would be the morning formula for us in our crew, where it's like every single day you hop into a document that tells you who you are. Not from a place of circumstance, from a place of decision, who are you? And when you become that person, the things that that person has are drawn into your life because you make different decisions. Nobody can escape this fact that over the long haul of time, your circumstances are a waiting mechanism that reflects your choices on average. And so for somebody to be in a place of lack due to choices, there's nothing in your life that hasn't been A created by you, B allowed by you, or C, deployed for your benefit. Those are the only three categories that you have. And so we have to be honest about our situation financially. I'm in debt because of choices. I'm in debt because I allowed myself to do this, or I'm in debt because there's a higher power somewhere trying to teach me a lesson. I'm going to go all in. And so you make the decision. Over the course of history, your circumstances pay homage to the decisions that we make over time.

Okay, you're 33 years old. You're spouting a lot of wisdom. Who are your, say, three biggest influences in life?

First and foremost would be like, I think that, you know, I was raised in a Christian home, and so even today, my faith is very important to me. The Bible is the greatest business material ever. When you read through Proverbs and you read through King Solomon, King Solomon was the first recorded consultant, and a couple hundred million dollars paid for one visit. It's like, it's fascinating when you go into the Bible and you read it for what it is. And so I think that faith has a big part of it. John Maxwell would be a big one because I grew up on his material, listening to John Maxwell and being around my dad. And then I'd have to, you know, say, like, I was born probably lucky or blessed or however you want to call it, to have the parents that I had. You know, being able to grow up in a. In a home where my dad was part of corporate America and pretty high up in corporate America, and I was able to learn some things early on that I wouldn't have been able to learn elsewhere. And, you know, all of those things.

What would you say the greatest lesson, business lesson your dad taught you was sort of like, is that thread of today within that Taylor Welch DNA?

Probably, probably responsibility. You know, my dad grew up. He was, you know, like, on full scholarship, playing basketball for his college in Missouri. It was really good. And then he went into insurance and built his own book of business and grew from there. And probably this idea of responsibility, you know, I was held accountable as a kid. When I made a bad decision, I had to live with the consequences of that decision. I didn't get ninth place trophies. We were a competitive family. I've got two brothers. My youngest brother right now actually works with us on sales. And so he's competitive. We're all competitive. And more than anything, though, we were raised in a home that taught us we are going to have to take responsibility for the way that we behave while we're on this earth. And later that converted into a philosophy of money follows responsibility. And it's not shocking to me that the people that struggle the most with money tend to kick responsibility farthest away, like nothing is their fault. Everything is President Biden's fault, President Trump's fault, the government's fault, their boss's fault. And money is not respectful of that. If you actually look at money as an emotional resource, money is attracted to people who gather responsibility as close as they can and that becomes an energy. And so that came from my dad, ultimately, way back in the day.

Yeah, I'm stealing that now. I'm not. Do I need to credit your dad or do you? Money follows responsibility. I don't think I've heard that. I love that phrase. It's so profound, it's so pithy. And yet when you examine it, you can't find any fault in it. It really is just to the essence of if you want more money or even just any, any type of improvement in your life, that, that core fundamental of it starts with me. I, you know, I know that there's a great book by Jocko Willink, Extreme Ownership talks a lot about that, but I think he's looking at it from a leadership point of view as opposed to a life philosophy. So, Taylor, this has been phenomenal interview, phenomenal podcast, and your mentorship has been invaluable and I just want to thank you for taking your valuable time to help improve our listeners lives. However, we're at that point now in the podcast where I'm going to ask you for one more tip. A website, a resource, a book, something else actionable for the art of passive income listeners to go improve their businesses, improve their lives. What have you got?

Let me give you, can I give you two tips?

You can give me three tips if you want.

Okay, here's, here's the first tip. Let's stay, stay top level. My first step would be to listen to this podcast again right now. As soon as, like right now, start it over, listen to the whole thing again. Here's why you'll have more profound impact in your life if you read a small volume of great books over and over than reading a lot of new books every year. Same with podcasts. Some, some things are like food. And you don't just eat food one time, you eat it repeatedly. And as you eat it repeatedly, it converts into the energy that you have in your life. And so that would be the first step. Just get into the habit. When you have a good episode like this or you have a good book, just go ahead and read it again. Go double, double on it. The second tip is I published a lot of my ideas before they make it to the book, before they make it to podcasts, before they make it to courses on Twitter. So if you don't follow me on Twitter, twitter.com taylorawelch and I'll constantly throw ideas up there and they're all based on this philosophy of personal advancement, personal growth, building your net worth, building your net life, which is different than net worth, building your impact. And so those two things right away. And if you need a third, I'll think of a third. But that's two for now.

Well, I've got a tip of the week that I think you forgot about, which is I'm following you on the wealthy consultant. So I would say go to blog.taylorawelch.com.

That is a good one too. That's a good one too.

Yeah. And I'm really enjoying those. And Taylor, I'm like you, I think, you know, when it comes to the information I consume, less is way more. And I want just the, that quality over quantity. So I look at everything and I probably unsubscribe from almost everything. But yours has actually stuck with me. And I think that that says a lot about the quality of the content you're putting out there, which goes back to the beginning of the podcast. You're, you are establishing a long term relationship with your community. You're not, it's not just transactional. Oh, by the way, you know, and now let's upsell you to something or whatever until you're, you know, but I've got value for you when you're ready for it. In the meantime, here's, you know, here's more value to think about. More value to think about. Yeah, my, my other tip of the week is going to be go to consultingmemo.com forward/, trial one and we'll have a link to that. And I have another tip. Art of passive income listeners. The passive income empire. Training on luxury arbitrage, which we didn't even get a chance to talk about, which would be right up our alley. Go to, I'm gonna have that link as well. It's gonna be taylorawelch.com Taylor A. Welch. Stop. You know what I'm not going to forget about, I'm going to send you the link. It's a, it's a long, it's a long link, but you guys are going to love it. And it's all free.

So. And, and for the consulting memo, just do consulting memo.com and then people can get everything that they want from that. They don't have to put the trial in there. We'll hook it up for your audience.

Okay. Yeah, Here we go. Learn from the highest paid, most successful consultants in the world. I'm going to read it right now. I also want to thank you listeners and just remind you that the only way. The only way we're getting the quality of guests like Taylor Welch is if you do us three favors. You got to follow rate. Review the podcast. Send us a screenshot of that review to supportlandgeek.com I'm going to send you for free a signed copy of Dirt Rich. If you want to start building your passive income quickly, safely and efficiently, learn more. Just go to landgeek.com forward/training. Today's podcast is sponsored by flight school. And you know, we really want to help you get to a point in your life where you have escaped solo economic dependency and you are totally free. Which leads me to the end. Taylor, are we good?

We're good. Thank you for having me. It means a lot.

Anything. I should have asked you. I didn't ask.

No. Well, you should just ask when's the next podcast? And we'll just go ahead and get on the books.

We'll get that on the books. I'm looking forward to a part. Two. One, two, three. Let freedom ring. Thanks, everybody. There's like, man, I didn't know you'd be anywhere. I don't know if we do part two now we can.

Thanks for listening to the Art of Passive Income podcast. Are you ready to learn how to. You can start building a passive income without renters, rehabs, renovations, or rodents. Schedule a free consultation at thelandgeek. Com training. Let freedom ring.