This week’s guest on the podcast is Jackson Millan, wealth coach and author of the international best selling book ‘Enjoy The Journey: Creating Wealth & Living The Life You Desire.
Jackson has spent the last 15 years dominating the wealth and business strategy space having worked with over 1,000 clients to help them build over $1.5b in combined wealth. Jackson has personally scaled multiple 7 figure businesses and has helped many of his clients do the same.
Tune in as Richard and Jackson talk all about growing your wealth as a fitness business owner and some action steps on how to future proof their business.
If you like this episode be sure to subscribe to the Marketing Muscle Up Podcast by clicking here.
What next? Yes. Do I put my, do I put my money in crypto? Do I go buy another house? Do I put an extension on that? You know, should I just put the money under my bed?
Hey, welcome back to the marketing muscle up podcast show. In this episode, I’m really excited because we’re talking all about money. We’re talking all about profit. We’re talking all about wealth creation. Now don’t turn the podcast off because if this. Conversation scares you. You need to listen to it really, really carefully.
Now. Um, I’ve known this, uh, gentleman, uh, for a few years now and he really is the number one, uh, game player in this space. He’s Jackson Milan also known as the wealth mentor. Now he’s award winning entrepreneur and wealth coach. He’s been there, done that, which I like most importantly. He’s also the author of the international bestselling.
Enjoy the journey. Isn’t that interesting. Enjoying the journey, create wealth and living the life you desire. It’s been featured on the best selling list. Eight countries across 15 categories. That’s huge. Now over the last 15 years, Jackson’s spent dominating the wealth and business strategy space. Uh, not just a business coach in that space, but also helping to generate over 1.5 billion in combined with 1.5 with a B in combined wealth.
Um, and he’s personally scaled multiple seven figure businesses and I helped his clients do many of the same thing. I first met Jackson a few years ago. Um, I think an event or actually through a, through a good friend of mine. Uh, and, um, yeah, you’ve. We’ve been having a few conversations like this. And so I’m really interested to get into it.
Jackson, welcome to the podcast. Thanks for having me. I’m really looking forward to, uh, to chatting about, uh, money and wealth and, uh, all things financial. Yeah, totally. Now, um, I’ve got some preset questions here, but you know, your knowledge, uh, goes more than a few questions, knowledge, um, Jackson, you’ve, you’ve really, you’re in the forefront of changes.
And at the moment, Jackson, there’s a lot of changes happening in the space, you know, and specifically I do wanna talk. I wanna talk specifically about kind of smaller operators? Um, yes. You know, we work a lot in, as you know, in the health wellness lifestyle kind of space where people are impacting and making an impact to people and they want to create change in their lives.
But the one thing that I think most people, myself included, Jackson, we always leave ourself to the end because when someone says, you know, I, I have strategy calls with our clients. One thing I say is, well, you know, What, what financial goal do you wanna hit? What’s your revenue target? And it’s like, the eyes are just blank because they’re focusing on members not focusing on even revenue, but I really wanna focus on profit two.
So, Jackson, I, I guess my first question, I wanna go back a little bit, cuz you’ve got a personal story around this and this is the reason what I, I always love to go. Why are you a wealth coach Jackson? I mean, it sounds cool, but what’s the journey. What got you to this? . Yeah, it’s a really good question, mate.
So this all started with my parents, so my parents were business owners. My mom was a hairdresser. She was an award-winning hairdresser stuff. Phenomenal at what she did. Yeah. Um, some of the best in the country and my old man was just really great with his hands. He was a trade. He had lots of different trade businesses and he had the, the potential to be a great entrepreneur.
He was really good at starting things, but wasn’t very good with following through. Oh. And the grass was always greener on the other side. Oh yes, we can. We can all, uh, feature that. Yeah, exactly. But the big thing for them is that they were like Oliver twist, right? Mm mm. It was always hands out and it was just like, they would work incredibly hard and they would ask for more.
And it was if they were begging to be paid, what they needed to just survive. And survival was really what we did. We never really went without anything, but there was never any excess. There was just enough. And I come to realize that hard work didn’t mean financial freedom. Yep. And. I realized that my parents didn’t understand the language of money.
They were working for money as opposed to money working for them. So I decided that I was gonna go to down a path to kind of break the, the catalyst and I started training to become a financial advisor. Right. And I very quickly realized that the financial advice industry really only wanted to help two types of people.
They wanted to help people who were already wealthy and make them wealthier. Yes. Or they wanted to sell commission based products to people like my parents who quite frankly, didn’t need. Yep. And it really was disheartening for me and I was ready to hang up my hat, but then I asked myself, okay, if you’re gonna do this the way that you wanted to do it, what would it look like?
So I’ve been the term financial advisor and I started calling myself a wealth coach. And I started building a syllabus, a framework, a system that allowed me to educate my clients to make money work for them. And here is the fundamental issue, Richard, because most people, fitness professionals specifically are immensely passionate about what they.
Totally. And I I’m sure you agree that the vast majority of fitness and health professionals believe that health is a God given. Right. It’s a human right. Everyone should be entitled to be healthy. Yeah. That comes with a lot of guilt. Mm. Because I’m sure if they could, they’d probably do it for free. I know they’ do it for free and they do it close for free because they ask for what they really deserve.
But the problem is here that we’ve got this vicious cycle, this double edge sword. And this leads us to paying ourselves last, bearing ahead in the sand with the numbers, becoming a financial ignore, just expecting that hard work and more reps is going to result in, in better results. And it just doesn’t.
And there’s two things that you need a master in your business, your fitness business, specifically, you need a master, your marketing and you need to master your. And if you can nail those two things, you are unstoppable. You can work through recessions, you can work through events like the GFC. You can work through COVID, you can work through anything.
Those are just the tools that you need to be able to thrive in a modern day business today, particularly in a, a marketplace that’s so crowded, like the fitness space. Yeah, very interesting. And, uh, I think it’s very true, you know, we do want, yeah, we do want to help people and it’s really important to do that.
Um, you, you mentioned marketing and money and, um, you know, obviously that works well for us because we’re in the marketing and you’re in the money game. And, uh, yeah, we also believe that if you can’t get leads in well, And, and as our friend, Steve Jensen says sales solves all problems. Um, but you need leads to get to that point.
Um, let’s just kind of go, go like a micro point here. If a business is struggling at the moment, Jackson, when I say struggling, you mentioned that your parents, that you didn’t go without, but it was week to week. Pretty much, right? Yes. You got by. And I think. You know, is it safe to say Jackson that most people, I mean, you obviously are in this game, you are having those conversations.
I’m not in that degree. Where are most people with their finances, Jackson? It’s a really interesting point, mate. So we define people at a potential of five stages of what we call the wealth pyramid at the bottom of the wealth pyramid is what we call financial battle. These are people who are burning cash, they’re drowning financially.
Um, they’re essentially going to, to sink the ship, right? Yep. We’ve then got comfort. This is where people are treading water. They make just enough that they can pay the bills. They can keep going, but they’re, they, they’re not moving forwards. Yep. But we then got financial growth, but we’ve got surplus.
We’ve got profit and we’re making money work for us. We’re advancing, we’re magnifying our position. We’re progressing. Then we’ve got this highly covered financial freedom, which is basically achieved by two things. You own your home and it’s paid off and you have enough passive income that you can choose what you do with your.
And then we’ve got stage five, which is financial abundance. This is where we’re at a stage where we can focus on legacy impact and generational wealth. Now for the vast majority of people that I see right now. Yep. They’re on this tipping point of battle and comfort. Battling company, it’s VI it’s this vicious cycle that they get their head above water and they might get a one step forwards.
And then for some reason, they get hit for a six and they end up taking two steps backwards and they just can’t seem to break through this invisible ceiling to go from surviving to throne. Wow. That’s so good. Battle comfort, surplus, freedom, abundance. Wow. Very, very interesting. Um, and it makes so much sense when you put it that way.
And so let’s say for somebody who. um, I think it was the there’s three levels. I think it was the comfort. So let’s say you’re a personal trainer or a fitness professional, or a studio owner, and you are in the comfort stage. You’ve maybe had a battle stage a year ago and you’re, you’re smelling, something’s changing and you don’t wanna go back to there.
What could a person right now do to maybe change their mindset or to change their finances? Or do I have to, you know, open up a bank account or something? What could I do straight away that could help me to do. Yes, it’s actually all our mindset related, mate. You hit the nail on the head because here’s the thing.
We have run two different operating systems. Typically we either move away from. Or we move towards pleasure and fitness professionals are phenomenal at moving away from pain, right? It’s like, it’s even part of the, the actual fitness itself. Like you’re doing squats. You need to feel the burn. You’ve gotta squeeze out that last rep.
If you’re not feeling the pain, it’s not, it’s not working. You’re not building the muscle. Right. But that’s not how we grow a successful business and that’s not how we AMA wealth. It shouldn’t be painful. So, what we actually need to do is we need to shift from away from pain, which is what gets us out of battle and into comfort.
But the reason why we’re hitting that invisible ceiling is because if we’re in this comfort zone, this cushy part, then there’s no emphasis for us to get out of our comfort zone anymore. Oh yeah, totally true. We have this, what we have this, this principle that’s called a cognitive bias for loss aversion.
There’s actually been a, uh, a, uh, a Nobel prize that was issued in 2016 on this very thing, because what they were able to prove is that the emotion of a loss is twice as significant as the potential of a game. Wow. Yep. Now what that means to get you out of comfort and into growth is that you need to put twice as much effort into your future planning to get you from comfort to growth and beyond then you did to get outta battle amazing twice the amount of.
Twice the amount of effort, but those squats just do the last squeeze, the last set out. It’s probably a bit easier. It sounds like a hundred percent. It is. So we’ve got a framework for this Richard. Okay. The first thing we need to do is we actually need to focus on the individual themselves because the biggest mistake I see fitness professionals make is they treat their businesses.
If it’s the destination, it’s a vehicle. It is a wealth creation vehicle. It is like a shared portfolio. It’s like a property in actual fact, it’s better. Because there are very few businesses that can be a cash creation machine, like a fitness business. Yes. It’s phenomenal at generating cash. If you nail the numbers, what we need, need to work out is what are the numbers we’re trying to achieve?
So we actually need to map out your personal plan. So we’ve gotta ask ourselves, well, what do we need to be able to live a great lifestyle? So how we work this out is okay. Let’s do what we call a personal profit and loss. I hate the dirty B word budget. Yep. Personal profit and loss. Let’s work out what your ideal lifestyle costs you to pay your rent or to pay your mortgage, to eat nice food to go out on the weekend to have nice experiences.
Let’s assume that it’s a hundred grand a year. Sure. Beautiful. Firstly, what does the business need to do to consistently produce a hundred grand a year for you? Mm, there we go. Income target into profit target profit target into revenue, target revenue, target into members, members into leads. We can now link all of the activity to that outcome.
How much more invested are we? Mm, totally. We, we want those marketing want the sales to work. We want the conversion to work because we’re working in our favor now. Exactly. Next stage is okay. The a hundred grand say gives us the beautiful lifestyle, allows us to do the things we wanna do. Yeah. How much extra would I need above and beyond that to now start planning and building wealth to work towards buying my home, getting the next investment property building passive income streams, paying off debts.
Let’s say it’s one 20. Yep. Okay. Do the same exercise. So in, in the words of our, our good friend, Steve Jensen, we need our bare ass minimum. That’s the hundred. And the 120 becomes the stretch and that’s in the cushy zone where we find ourselves at that stage three of growth where financial freedom and the path towards it becomes presupposed as long as we can hit those numbers.
Wow. Very, very interesting. And, and makes sense when you look at it that way, because it’s almost like you, you want to win, you want to make sales, you want to do better marketing. Cause there’s a point for it sometimes. Do you think we lose our way? Like we just run a business and we think that’s the thing.
And we hope, and you know, you know, something that Jackson not gonna ask you that this is something that irritates me only because I used to do it where I ask a business owner, you know, what are you making each week? And I do the activity and they say, oh, you know, don’t pull myself a wage out and, and.
And then I go, okay, well, hang on, hang on, hang on. Back up, back up. You gotta eat some food, right? What do you spend eat? I don’t have a wage. I don’t have draw a weight, but then we go through and we look at what they actually physically pulled out a bank account. It might have been, they put their business card down.
Well, they might not have two accounts. They’re pulled out cash and it equates to a few hundred bucks. Let’s say 4, 5, 800 bucks. And, but they actually don’t realize they’re getting paid that, you know, talk about that. Is that a common thing that you see for small business owners, Jackson? No comment. The amount of time I send people go to the charcoal, chicken shop or sushi train or whatever, and run their business card is just appalling stop treating your business.
Like it’s an ATM , it’s not. Yeah. And look, I used to do this myself as well. Right. Um, and the, the, the penny drop for me is that I had an ex-business partner that I’m happily out of business with met for many years ago. We had a successful business, but yeah, we went to. An event at the casino. And I saw him use the business card to go CA take cash out, to go and gamble on the tables.
And I go, yeah, I don’t wanna be in business with this guy. Um, I actually had a mentor very early in my, my career. He said to me, um, never be in business with, with, uh, a gambler, a cheater or a drunk. And I go, okay, I’m gonna take that really personally, this is a warning sign and I’m not gonna do that. But the whole aim here is that you need to run your business.
Like you’re a professional. Okay. Yep. And we need to make sure that we put on the lens, ask yourself this. If I was the CEO of plus fitness mm. Of a public enlisted company, would I be allowed to do this? Mm great. Or how would I do things differently? And how things would it be done as you’d have a salary?
Typically that would be enough for you to be able to maintain your lifestyle, have comfort, not have anxiety about your day to day, week to week expenses. You’d have a bonus that is linked to the performance of the organization. So if you put in X amount of effort, that gets Y result, you get Zed. Yep. And thirdly, you would get a profit share for the shares that you own in the business as an.
Makes sense. And you can go to the charcoal chicken and get the sushi frame as much as you like, but there’s a line of separation. So we’ve got clarity. Between what is business and what is personal. And then I guess the same thing happens. Like you’ve gotta manage your budget over there in your family household for the a hundred thousand dollars or the whatever you’re taking.
And you might only be able to eat four charcoal, chicken instead of three that you know, that week, you know, so you just gonna manage that. I’d say, and that’s the come to Jesus moment that we sometimes need made, because this is the problem. This is Jesus moment. Yeah. That’s very interesting. Tell me about that.
The problem is that when you treat your business like an ATM and you’re taking these ad hoc drawings yeah. We’ve proven it that on average, you spend 15 to 20% more than if you set up the right structure. So just the pure mechanism of separating, creating a structure of the actual transfer of money, and also the way that we structure finances, both in your business and in your personal and your personal cash flow.
Yeah. We typically improve your surplus by 20. Outstanding. Um, I can definitely believe that. Um, you know, when I started off business, I started 17 Jackson. I, um, I, I probably had the same account that I was pulling out. No idea. And you, you start to realize, and you go, Hey, this, this can’t be right. This can’t be normal.
And then you go, I just wanna go get a job where I get paid every single week. But like, you can get paid every week, can’t you, you can do it. And I think that’s really a, a huge achievement for like, I think that’s one of the, you know, when you’re talking about those levels, the five levels, I think just being able to pay yourself a salary every single week, where you’re not late and you pay your super and you put your tax in there and that kind of stuff.
I mean, how good does it feel as a business owner to do that? It feels so good. And look, once again, I wanna use a fitness analogy here because this relates to your clients, right? You’ve got clients who come to the gym and you’re trying to get them to, to achieve their goals. Yeah. And they do what you tell them in the gym, but they eat shit.
They drink too much. They party, they’re not sleeping. They’re not drinking water. They’re not respecting themselves. How frustrating is it when you’ve set out this plan and you’ve tried to hold them to a certain standard and they disrespect themselves and the outcomes they’re trying to achieve. Like, there’s this negative correlation between the outcome they want and the activity that they’re doing to get there doesn’t make sense.
Mm. And it’s the exact same thing where you expect yourself to turn up with energy and vitality and clarity in your business to drive the results forwards, but you are not treating yourself with respect. Mm. Makes certain sense. Uh, it all comes back to those personal, um, daily, whatever you do to, to ensure that everything’s working in a bit of a flow, not a force.
Correct. Um, listen, let’s, let’s break up the podcast a little bit because I heard a rumor, uh, Jackson that I’ve got here. Um, you know, what’s one thing most people don’t know about you and. It says IG a huge star wars fan. Now I dunno if that’s a, a missed typo. Is that correct? Are you a star wars fan? I’m not a huge star wars fan, but I do like star wars.
Um, I’ve uh, my girlfriend is probably a bigger star wars fan than I am. Right. She’s a, she’s a big geek. Um, but uh, my in saying that my nickname is a kid was Yoda, so, um, Yoda that’s, uh, that’s where that come from. And, and there’s another interesting fact before we get to more questions. Um, now you’ve moved to, um, up north.
Yes, whenever I’m on your Facebook profile, Ja Jackson, you in between my household with Joey, we have a little snake problem here as well, where we are not as big as yours, but you know, it’s Jackson, the, uh, the snake man over there. That’s what we call you. Tell me about, um, you ripping snakes off. Your chicken pens.
I mean, how, how do you do that? And how’d you learn that Jackson? Cause you can learn things pretty fast. Uh, I’d love to digest just a little bit on this state conversation if we, yes, mate. So, uh, we, we spent about nine months traveling around Australia in a full drive, in search for our dream home and we found it in far north Queensland.
So we bought a 70 acre property that. Backs onto about 5,000 acres of world heritage rain forest, and we’ve turned it into an animal sanctuary. So we’ve got about 62 animals so far, um, plus the wild ones that run around. Um, but because we are in the middle of the rainforest, there are some big pythons, uh, and, uh, I think so far we’ve really relocated 35 or 40 35.
Wow. Yeah, I think the biggest one was about six meters and you really came those yourself. Jackson, is that. Well, the, the problem is where we are. There’s no way we’re getting a snake catcher out here. So I just, I, I had snakes as a kid. Yes. Um, so I’m not afraid of snakes at all. And I just realized that we needed to, to, to, to get the job done.
Uh, so I had my, my. Phone in one hand filming. I’ve got my other hand with a little hook, trying to get the snake. Uh, I try and capture all of it for, uh, the entertainment of, uh, my social media friends. it’s very entertaining. So it has, well talk, talk about marketing. It it’s, uh, you know, anything snake related is definitely gonna get, uh, Attention in any newsfeed that you have that’s for sure.
It’s very polarizing. I tell you, uh, I’ve got some people who have unfriended me because of their, their fear of snakes. I’ve had others who’ve conquered their fear. Um, so it’s, it’s polarizing. Definitely. Uh, you’re you’re my hero in that game. Joey’s got a 10 visit pass to the snake catcher here. I think we’re up to visit six.
So. I’ll try to definitely, uh, jump onto, uh, to your experience in that. But, but Jackson, getting back to the game of growing your fitness business, um, okay. Let’s say, okay, we’re on board and we are paying ourself. We are paying ourself and we’ve got a house and we are, we, we kind of getting the payments done and, and the business is kind of okay.
But a lot of people struggle Jackson then with, you know, what do I do? Do I keep just working really hard? Do I put my money? The little money that I might have, or the little profit that I might have and not to be negative here, if you have a lot of profit, you know, and I’m just trying to, I guess, pin it to, you know, a traditional business owner.
Who’s who’s done. Okay. They’ve got buy. They they’re okay. They’re paying themself. They, their kids are okay. Everything’s good. But it’s like where to them? What next? Yes. Do I put my, do I put my money in crypto? Do I go buy another house? Do I put an extension on that? You know, should I just put the money under my BA my bed?
What’s the, you know, the advice you can give advice around, you know, that kind of people maybe in. The the, the surplus, the freedom area kind of zone. Sure. Yeah. So look, ultimately this depends on the type of business that you want to grow. Right. And the aim of the game should be that you should be building wealth independent of your business.
Yeah. Um, because we can amass a huge amount of wealth in our business, but it’s risky. Right. Mm. And we’ve seen the number of fitness businesses who have been impacted through COVID what’s happened to their valuations. It hasn’t been nice. I definitely believe it will bounce back. Yeah. However, it’s gonna take time.
So for this reason, we wanna take our business profits and we wanna turn it into personal wealth. Okay. The aim of the game is there are only three predictable ways to build wealth in this world. Okay. There is business. So building value into your business, buying other businesses. Yep. There is property being your home and building an investment property portfolio.
Yep. And there is shares and we don’t wanna be stock pickers. Guys. Don’t pretend to be an investment guru and you’re like, oh yeah, I like BHP. Or I like CBA or I like Tesla or whatever accumulate the share market using index funds. Okay. That allow us to bet on entire markets, not individual companies. Got it.
Okay. So my strategy is exactly the same. My business at the moment is worth 6.2 million. I have a property portfolio that produces cash flow for me. Uh, and I’m in the price of, of accumulating two investment properties a year. And all of the remainder of my surplus goes into a single Vanguard index fund.
Okay. That’s diversified across the whole world. It’s. So the aim of the game here is that it’s just about the system of allocating money into wealth. The problem for most entrepreneurs is that it’s boring and it should be, it should be boring. Okay. Tick, the issue is that for most people, they try and get their kicks from their investing.
And that’s not where you should get your kicks from. So you don’t think I should. You don’t think I should download the coin spot app Jackson, look, I dabble in a little bit of crypto, but it’s money that I can afford to lose. Yeah. And I’ve said it, that I invest in speculative investments, startups, crypto, or anything of the, like, to a maximum of 5% of my net wealth and not all of that is allocated.
Um, I think I, at the moment, I probably only have about 70,000 allocated to speculative investments and it’s play money. Yep. So unless you’ve got a, a sizable portfolio, well, don’t go and speculate. Sure. There’s been lots of millionaires and billionaires created, but there’s been more people who have lost money as a result of that and money.
They couldn’t afford to lose. Then those who have been, have skyrocketed to financial freedom speculating on these untested, uh, asset classes. Yeah. Love it. Speculating. Okay. So very interesting. So basically you are saying, keep it simple. Um, you know, with those, with those allocations you have, and you know, when, and, and where we’re going a little bit deep here.
And, but, but when do you, let’s say you’ve got the one. And you may wanna get another and, and this is, this is something I literally just came across today. Right. Someone’s just got a house that I know, uh, just bought into a house. Their fitness business is doing okay. But not amazing. Okay. Um, they, and they’ve got a little bit of money that came in.
We’re talking about, uh, I think maybe 50 grand or something like that. I, in a profit. And so they’re saying, well, I wanna go buy some new equipment for my gym. I wanna red deck it. Do you think that’s the best way to go about now that $50,000 can go somewhere else? Jackson, what would you that specific answer?
I’d love to know your, your thoughts on that. Yeah. My, my thought process on this is, is that if we there’s so many business owners who use this, this guy’s, this, this throwaway line I’m gonna reinvest back into my business. Yes, reinvest. It is a, in nine times out of 10, it is a poor excuse for money mismanage.
Because they, and a reinvestment requires you to say, okay, I’m gonna go buy $50,000 of equipment. I know that it’s gonna take me 12 months for that equipment to be paid off for me to reach my break even point. Yep. And for every month thereafter, it’s gonna be providing me with a 10% yield. Right. Because it’s only when we can crunch those kinds of numbers that we can go and compare it to buying an investment property or investing it into the share market.
Because what we’re trying to do is understand the true opportunity. Of all of these investments side by side. Cause back on my previous point, if we’ve got three things, we invest in our business property and shares. Yep. What dictates me investing in one or the other. So for example, I buy businesses every single year.
I’m currently buying three at the moment and the calculations I’ve done on those businesses is each of those businesses provides me a 33% return on capital every. And I’ve used equity in my existing business to be able to acquire those. So zero cash down. So in actual fact, it’s an infinite cash on cash return.
So it’s a 30% return on equity, but infinite cash on cash return. So of course I do as much of that as I can, but I also recognize that business is risky. So I go and look to buy a residential property. Let’s say I put a 10% deposit down. Let’s say that property goes up by 10%. That is now a hundred percent return on my cash on cash.
Wow. So, because I understand those numbers, I have the ability to make objective forward facing decisions. The problem here Richard is that most people are doing this based on gut feel, gut feel or, or things that maybe their parents have done or not done, or advice have got somewhere. Correct. And the best thing that you can do is stop letting other people, fish for you and learn how to bait the hook and fish for yourself.
And it’s not that hard guys. And, and tell me then wealth you’re, you’re a wealth coach. Um, you know, as a wealth mentor, uh, whenever people are going, okay, go speak to your financial advisor. It sounds really big Jackson. Like I’ve gotta have a portfolio of a hundred million dollars to speak this financial advisor.
Can you just kind of tell us a little bit. What is a wealth coach and what is a financial advisor in. I guess the next question is like, well, how do I start, Jackson? How do I get moving? How long is this gonna take? Where where’s the first point of call? Yeah. So look, I, I, I sell like, I shit bag financial advisors, but I don’t mean to, they just serve a different purpose than what many people need.
Okay. So. The point of distinction is that a financial advisor typically is going to offer you a done for you solution. Okay. Yep. You’re gonna say, Hey, come to me, tell me what your goals are. Tell me what you’re trying to achieve. Tell me about your current financial situation. Yes. And I’m going to advise you what to do, and I’m typically going to manage your money on your behalf so you can outsource that responsibility to me.
Yep. That’s okay. However, you are now responsible. Like that person is now responsible. And your results are directly related to what that person does and you’re reliant on them. Mm. And as long as you understand that and you’re okay with that, then that’s fine. It’s like for our clients going to a AR like a marketing agency to go and get them leads, if, or they can probably learn themselves.
Exactly. Okay. Financial level. So, whereas a wealth coach will teach you the strategies. If they do it with you, they will take you through the same process of defining your goals, understanding your current position, but they will teach you the various strategies and tactics of how they work when to use them, how to evaluate them.
And most importantly, teach you the decision making frameworks to make better choices for yourself, because is it is my opinion that no one will ever love your money like you do. Mm. So. It is a duty of yours to learn how to manage it better for yourself, even at a foundational level. And what that then allows you to do is to bring experts in as you need to.
To outsource certain responsibilities, but at least you could hold them to a higher standard because you know what standard to hold them to as opposed to taking a blind leap of faith. Yeah, love it. Um, so it sounds like the wealth coach is needed for the majority of people, uh, to get this particularly a business owner, Richard, because the problem that I found in my experience with many financial advisors is that they only deal with personal.
Yes. They draw the line at what the business has already produced. Got it. But most of our clients they’ve got unlocked wealth in their business. We’ve had so many fitness businesses that have come to us who have been spinning the tires have been stuck in that comfort phase. Yeah. Which has limited them to buy their dream home, to build investment portfolios, to create passive income.
Yeah. And it’s only been through UN helping them unlock that hidden wealth in their business. That has allowed them to go on and build that personal wealth where a financial advisor typically is not going to be able to provide that level of service or advice or mentorship. Yeah, love it. Really, really interesting.
And, um, I love the personal story where this came from as well. Uh, I think it hits home hard because, um, you know, it’s really important that people know, okay. Yeah. This is something that I’ve been through or Jackson’s been through. It’s firsthand. Um, you know, really, really interesting, um, being fascinating really has now Jackson, before you wrap up, um, I guess my final question is, you know, what, how long is it gonna take?
Let’s say, I’m, we’re raising a hand now we’re saying, listen, this, this sounds like good sense. You know? Um, and, and I’m sitting here going, why didn’t I didn’t, why didn’t I think of that? You know what I mean? And what, what, how long do you think it takes for somebody to. And depending where they are, but how long does it take to somebody to get, I guess, better systems with their money, um, feeling confident with their money.
They may not have reached that financial freedom stage yet, but how long does it generally take for somebody to get on the right path? Um, in your experience it’s three months really is it’s three months of implementing the right financial foundations of renovating and getting all of the financial skeletons out of the closet.
Fixing things out, optimizing how money flows both personally and in your business and setting up the right systems. Yep. So we can automate things. We can streamline things. We can free out bandwidth and get you focusing on the future. And in our experience, our clients are on track to create financial freedom in 10 years or less on average, 10 years of this.
Excellent. And look, it is a marathon. And for some people it’s gonna sound like, oh gosh, 10 years is a long time, but I think most people overestimate what they can do in a year and underestimate what they can do in. And there’s so much we can achieve along that way. It’s not just not no financial freedom to financial freedom at 10 years, there’s a transitional framework, but the big part here is at least having a plan to follow a roadmap that’s gonna help you guide and make your good decisions confidently.
Yep. And as my book is titled, enjoy the journey along the way, cuz this is not about eating conflicts for dinner and shrinking yourself wealthy. Yep. My motto is live for today and planned for tomorrow. We should be able to live an amazing full rich life of experiences now and create financial freedom at the same time.
Love it. Jackson’s been so, so interesting. I look forward to getting you back and continu hearing about the snake stories and the financial freedom of, uh, well, what people can do with their business, cuz it is, you know, it’s, it’s great because you know, it makes more sense. People can market. People can sell people, can retain their clients for a reason, for a purpose, not just the daily grind.
Yeah. So it’s super interesting. Jackson, listen. Um, how, how do we get a copy of your book? How, how can we start some kind. Learning process. Um, you know, we’d love to know a bit more, how, how do we get a copy of the book or where can we get track in? Yeah, we’ve got a whole heap of goodies for you guys. So if you go to wealth, health check dot comu, that is wealth, health check dot comu.
You’re gonna a copy of all my best selling books, some, uh, scorecards, calculators, cheat sheets, and you’re gonna get our. 40 point financial performance scorecard, which is the top 40 things that get in the way of most business owners creating financial freedom. The scary thing is the average score is about 18 out of 40, which means most business owners are below average financially.
Yep. But the good thing is that most people can add at least five to their score in 30 days or less once they do the scorecard. So, um, go to wealth, health, check.com AU, uh, complete that, get all of the goodies and, uh, start implementing and taking action. And of course, if you wanna reach out and have a chat, all the details will be on there as.
Well, uh, the good thing about fitness pressure, they’re very competitive. So I’m sure they could try to smash that 40 to get to the highest they possibly can. Jackson’s been great. And if you are listening to this team, um, Jackson’s gonna be, uh, at our, our com immersive for our ninja and, um, ninja and comm community clients.
So look forward to hearing you there. If you are listening to this podcast, um, in real time, Jackson, thank you so much. Looking forward to hearing a bit more about, you know, unpacking this in more detail, uh, later at the immersive and, uh, thanks for your time. My pleasure, mate, chat soon. Cheers, mate, guys, if you’ve enjoyed this episode, the marketing muscle up podcast show, be sure to subscribe, um, and tune in for more episodes.
There are a hundred plus episodes season there for you to wait to help you to grow your health and wellness business. And, uh, I certainly got a lot of the, this episode, uh, profit revenue and, um, you know, making business to work for you. Thanks team coach. Next time in the marketing muscle up podcast show.