Mastering Consistency: The Key to Wealth and Wisdom | RMT229

So how are we doing so far? We've had an extraordinary I think Howard was a new blessing to our community and will be great for a lot of you who are qualifying and ready to roll, share electric, just so you know, Scott was on earlier. And we've been kind of laying down the psychology of being successful and how a lot of us have spent, you know, I've spent well in the seven figures on mentors, I mean, Bob Proctor alone probably got 25,020 Because he was 25 a year, I was probably six years with him and then I became his business partner, which then got paid back way more than that. So a lot of you you know, this is about learning, consuming, staying in the lane of psychological and philosophical but development. Like one of the things Scott just kind of bring you into the call is, you know, we shared and I talked about if you want to stay safe and stable and small, Suze Orman, Dave Ramsey, your people we are not we are the millionaire makers, we are the Grow big, go big, go home. And if you don't want that, that's fine, but you kind of join the wrong place, and then stay in a lane. So we're bringing Scott in. In fact, I'm inviting Scott, who's gonna do it publicly. You don't have to say yes or no. But every April and October, we do a live event. And I would like you there at all of them. So I got introduced to Scott through Lee Richter, who's actually big table member her and her husband are phenomenal, phenomenally successful. Northern, they're actually in brown, Oakland, Northern California Bay Area, holistic vets. They went to wards across the country. They're amazing business people. Lee is probably one of the best networkers that I've ever known. She calls me she said, Oh my gosh, because we helped her daughter Abby become worth a ton of money. So and she made her first money as an eight year old at my cash flow, or my three days to cash. So we've just had this great family relationship. And she said, Have you heard of my first sale, which was the the original name, I said, now she's had hurt her scotch. And I said, No. She said, Oh, my God, you have to meet him. So immediately, we met immediately I invested in what's now gravy sack. And from there, I'm gonna let you talk a little bit about your past, because I do want to set you up. I'm here from a mega wealth family, a legacy family. I mean, you grew up, you know, with an amazing structure of how to do this, you've had some amazing exits. And so he's not really here to talk just about gravy sack, which we've brought him on to talk about. But I do want you to talk about it, because everybody should have their kids in it. But start with just a little introduction of you and your family. And we're just excited to I'm gonna say grandfather you into our table, because I want you. I want you. I want y'all.

Absolutely if I'm, if I am not on another stage, I am here helping and guiding and doing what I can to support your community because they're all incredible people. And let me I'll give a little bit of background on my life. But I have some kind of some hard hitting truths to give to the room today. So I want to make sure we leave some time for that. But yeah, so I come, I come from for generations of entrepreneurs, mega success, hundreds of millions to billions of dollars, that the heritage that they built within us was a million times more important than the amount of money they left. And I think understanding financial principles and competencies are critical. But in our family, we mastered the art of the power mover, which means that every generation got the baton. So didn't matter how much money you were handed to you. What mattered was getting the mindsets and the skill sets and the financial skills. So you know, my dad and my grandpa, they built Inner West Bank, they grew it to 90 branches, they sold it to Wells Fargo for billions of dollars, put almost the entire thing in a charitable trust for widows and orphans all over the world. And you sit there and you think well, what they could have handed you $100 million on a platter, Scott. If I would have been handed that at a young age, it would have killed my value creation drive. It would have given me a life of imposter syndrome, and guilt and fear and shame I wouldn't have risked I wouldn't have learned the principles of investing all of the healthy struggles that turned me into the man I am today that turned Laurel into who she is today. Yeah. And I'm not saying you just leave your kids with nothing. That is not what I'm saying. What I'm saying is strong legacy comes from building up a last name that means something with your kids. Okay? If my parents gave left me a billion dollars today, it's going to be 2 billion in a decade. Okay, I'm prepared now. I understand it now. I know how to compound interest. I know risk and reward. I know consistency. I know grit. If I was handed that and covered everything growing up as a kid and pay and they paid for everything and they covered college and they covered it Every, every little thing I needed and jumped in when I had a problem and never let me skinned my knee and yelled at the teacher to get me a better grade and yelled at the coach to get me more playing time, I would not be standing in front of you today. So that's my heritage for generations in a row. I don't know your politics, but my grandpa became Ronald Reagan's bank chair, because of the type of person he was, and our family knows how to pass on to the next generation strength, stronger value, stronger faith, stronger mindset, stronger financial competencies. And I think that's true legacy is seeing your kids race by you and every metric. Yep, that's, that's true legacy. And so it's not about how many dollars you die with. In fact, I actually, I've been thinking a lot about generosity. And I've been thinking a lot about the link between generosity and investing. Oral this is kind of a thought. I mean, I go deep in these thought processes.

That's why I wanted you here and the order. And again, there's no casual answer about the sequence, we put this content to you, Sharon wasn't what a light warm up, because I knew Scott was going to bring and I invited him to bring heavy hitting like, let's get to it.

So we, you know, when you think of generosity and investing, you think, Well, those are antithetical, those are opposites. Those are contradictory. You give your money away, you can invest it, I actually have a different thought about this. I believe that a generous spirit is the best investor, a generous person, think about just for a second here, we teach our children sharing first, share a toy, share a pencil, share your lunch, you share, then we teach them to give, we teach them to help a neighbor, we teach them to earn money, we teach them to be generous with other people and help them get in mindset that is other oriented, selfless thinking. And then we teach them actually true generosity believes in an abundant mindset. If you believe tomorrow is going to be better than today, and that you can create value and that there's more to go around and the pie can get bigger, you're more generous. And you're also a better investor. An investor believes that tomorrow will be better than today and an abundant mindset rather than a scarcity mindset and an investor doesn't go mind mind, mind, mind mind. An investor has an open hand that says, You know what? The blessings that God gives me are the degree to which I can let it flow through me. An open hand versus closed fist is the best investor. That's someone who has delayed gratification that someone who thinks long term. So I just want to make that connection because I realized this recently that very few people ever make a connection between generosity and stewardship, of investment. And so I'm just realizing a lot lately when it comes to financial literacy with families, and financial competency with the family. So I love I love a generous person, because I know that what they touch will compound and what they and what they invest in, will grow. Because they are a great partner. They're a great investor. They're a long term thinker. So the hard hitting piece of advice I have today is this. Just like investments, compound, consistency, compounds. Consistency compounds in every area of your life. If you want to become wealthier, you have to practice consistent principles in your day, you have to do the first things first, you have to do the hard things. First, you have to do the same things over and over and over for them to compound. There's a reason why compounding interest is the eighth wonder of the world. Because the interest starts to gain interest on itself. It's the self multiplying magic in your life. And how many things in your life right now? Did you make a New Year's resolution to do? Or did you pay Laurel money to do and you thought I can do this once? I can do this for a week. I can do this three times. And then you stopped. Consistency compounds. Every wealthy truly wealthy person I know is not as is completely different than who they used to be, but not because of the money. They are the same person that they've always been in terms of their habits. They're the same person that continues to invest that continues to try new things that continues to grow in their learning that continues to read laurels books.

Read them first.

You continue what you what you keep doing compounds. You know, we're launching these webinars. And we're, we're we've done 19 of them. And the first 15 sucked. And then the whole time, the first 15 times, I'm like, we're done with this stupid stuff. This sucks. These are not getting us the ROI, the row as we need blah, blah. And I went and I met with five of my buddies, men and women that had done it a bunch. Hey, you know, look at this. Give me tweaks. What do you think? You know, people just feedback feedback, feedback, iterate, iterate, iterate, tweak, tweak, tweak. 16th. One for X ro s. Okay, look at ICE. Was the water any different? At 20? How does ice melt? Okay, let's just think about that for a minute. at 29 degrees, it's still ice, the temperature goes up just a little bit to 30 degrees, it's still ice, the temperature, it goes up a little bit to 31. It's still ice at 32 degrees. 33 degrees, it melts. It's the same thing. But it's consistent increase in temperature. The same is true with you guys. What is it in your life that has adding value to other people? What is it in your investing? That needs to compound with consistency? I know this is hard hitting. I'm speaking to myself. Yep, I am coaching myself as I talk. That's what great leaders

do. Yep. Always. Yeah.

So I am saying this to me, just like I am to you guys. I have seven books sitting right here that are on my list of the next and next to next. So consistency compounds. And so I really want you to take a second and think about that right? Write down? What are those three things where I am lacking consistency, but I know I need to continue in them.

And I want to Scott, I want to lean them into I mean, they've joined this community. Yes, this is my book. But you know what you are? I am Chad on the gravy stack team. Sharon, I mean, you've got to lean into consuming this knowledge. It can't just be because here's what happens. A lot of times I'm gonna come to a call. I have one question. I just want my one question answered. But the context of the question and the content, like even having Howard on the call, I think you saw the end of his creative finance. Some of you aren't ready for Howard, you're not even close, you don't even have your basic p&l and balance sheet. So do you have consistent financial records, I mean, I'm talking across everything we teach, like you've got to build to this growth and you got to build to a level, you've got to have a solid foundation of understanding and knowledge and some of you got to dig into the books, you've got to have to study you have to consume the act, the academy, Scott, we have I don't think he knows but the academy behind the table, which will get you an invitation to, ya know, 1000s of hours, it's 22 years of my life's content, all for them, like consume it. It's not just my content that was all poured into me. And then I poured it back into you. So again, detail about the generosity of blessing. A lot of you write your first book, I gave you the content if you don't get it out, you're not getting any more. Like people say why do you keep producing books because I keep getting given get like it just keeps coming squire to Scotland. So a blast. It just keeps coming. But if you hold it tight this knowledge, you talked about the flow of money, that's what we're talking about. Some of you hold it tight, and you just don't understand the principles. So you get this weird scarce and desperate behavior around it. It doesn't work.

Yeah, I I helped you up

for some more content.

Oh, good. So I just sat with John Maxwell the last few days. We were in we were in Cabo together. And a few amazing people. He stopped by for a few hours. And shared some just dropped some leadership bombs on the crew. But one of the things we were talking about after he left was a dear friend of mine. Between the three of us I think we've had 17 exits of businesses, billions and billions of dollars 50 million customers. And my friend John said not John Maxwell different John after John left, he said, the harvest of your life. In the seeds you plant not the crops that you reap the harvest. The harvest in your life comes from the seeds you plant, not the crops you reap. Everybody wants to have the big reaping of the crop. It's all in the seeds that are planted. All of it. Every good real estate deal is one on the buy every investment stock art's at the time you're in, and the length you're in, and the compounding of the investment. Every world class Person has not just had 10,000 hours. They've had 100,000 hours of work, and growth and compounding of these things. And so maybe the best practical tip I can give you guys, is something that my friend BJ Fogg taught me. BJ Fogg, he wrote a book called Tiny habits. He's Stanford behavior Institute. He is one of the sweetest men on the planet. But he's helped millions of peoples change their habits. And he taught me this thing called Map, M A P, motivation ability prompt. So now that you have those three things in your brain, what are the three things you want to compound over time? What are the three things that are going to set you up for financial success, namely, relational depth, motivation, motivation, ability, and prompt, write them all down. So motivation plus ability, plus the right prompt gets you in the right scenario to act on anything. So the goal here is to make your motivation high enough. The ability needed to do it low enough. And the right prompt at the right moment to do so let's start with like flossing. I don't like flossing for some stupid reason. I have a Sonicare. And I'm like I can I use my Sonicare twice a day. Why do I have to floss? It's all good. Well, one time my, my one of my best friends, he's the top dentist here in town. He runs the association of 1800 dentists. He was he after my teeth were cleaned. He walked in. And he just said some random comment to me. He goes, Yeah, did you see that study, they just connected lack of flossing to stomach cancer. The greatest cause of bacterial going into your gut and wreaking havoc for cancer. That was the motivation I needed to floss. Now the problem was, I really didn't like having the long flosser, and wrapping my finger around both and six times and then having it break four times. And it's annoying. Well, guess what, they have these little big bags of flossers that have the little two prong or on their not the one prong or the two prong or gets like double the stuff. There it is. And I and so I bought that I bought a whole bag of 500 of them. So I have no excuse ability ability went low. Now let's talk about prompt. Now I train myself, every time I'm finished, I finish brushing my teeth, guess what I do. I grab one of those flossers from the bag, and I plop it right on top of the toothbrush, like literally on the top of it. So the next time I see it, because I know I'm going to brush my teeth in the morning and at night. Next time I pick it up, there's a floss or hanging on it. Well done, I gotta floss. Now. That's called a prompt. You can do that with anything in your life. You have to have motivation, high enough ability, and the right prompt. So you should be doing that in reading reading a book. You don't have to say I'm gonna read this entire book today or this week. Now I'm going to do 10 pages. I'm going to do 10 minutes, 20 minutes. I'm going to start small because once you're in the habit, you it grows, consistency compounds you're going to do maybe it's exercise, you know, I have my stacked habit is I take a call a day and I walk I do an hour walk just on a call, but don't have to be at my laptop, that Zoom call on my phone is me walking for an hour. Yeah, I'm getting like three mile three and a half miles in more a day. Okay, because movement is key for long term vitality. So little habits like that. Investing your your your investments should be automated. Automated investments, take away the ability needed to do it.

And the emotion to get all stressed out about it when you don't know about it. Because your friend said you should be out and they don't know anything and then you go get out you should have stayed in. So again, right? Security.

Every time the world is yelling at you to do something, it's probably going to serve you to do the opposite. The late Charlie Munger, one of my favorite quotes when he turned to Warren Buffett, and he looked at me said, Warren, if everybody else wasn't so wrong all the time we wouldn't be so rich. That's funny. So think about it consistency compounds. So I, I'm here to lay the hammer down on the what was that?

That's why I brought you here. And he did exactly. And I appreciate because you nailed it. Yeah,

I just I'm guys, I'm talking to myself. I'm glad you're listening for me. Consistency compounds. So what are those three things, if you are launching a business right now or you want to hit that next milestone, everybody wants to get the quick hit to double their revenue. Everybody wants to have that one thing that can double their profits tomorrow. Those are possible. But those are only possible those opportunities only come to people that have consistency. That's compounding over time. Okay. Well,

and the way that I say that, too, I mean, you talked about, you know, the seeds versus a crop is everybody wants the homerun, but they're not willing to go out and practice the single, can you consistently get a single Can you at least get to first base every time when you get up to bat? are you just standing there going? I'm just waiting for the one time it doesn't work that way you don't have the muscle. You know, I always bring in my my exercise physiology backgrounds got to say you don't have the muscle conditioning to hit a home run. You can barely get to first base. So in muscle conditioning comes with reading, consuming. I mean, how many books do you think you've read Scott I just shared earlier I said I probably ever had, I know in my home library because my kids are going What are we going to do with this library. And it's 1000s of books. It's 1000s I consume that's I was 17 years old, I would read a book a month. And then I got to every two weeks I'd read a book. I mean, just anything I wanted to consume about personal development, development, business finance, like, I knew I didn't want to be an employee, I just consumed and then I started paying at 21 years old his first time I paid Bob Proctor 25 grand I was in college, I had no idea how the hell I was gonna get $25,000 and I applied for credit card. And I got one and I figured it out. So a lot of you just again that consistency. I love that you brought that in. That's a great, man, I'm gonna start using it because it is a compounds, but your knowledge compounds. That's right, nation, you can't keep building knowledge on a weak foundation. You don't even understand the basis, much less the stacked help. Yeah,

yeah, I, I read probably 1000s 1000s and 1000s. I don't even know how many now millions of dollars on coaching and mentorship. I have this kind of funny joke when people ask, because I do a lot of audibles. And I listened a lot. I compound different habits while I'm working out or driving, I claim I reclaim every moment of wasted time by learning. That's another stacked habit. But I that I kind of say this joke is people like to read books, I like to read people like that. So, you know, for me, I've I've realized in my life that the people I surround myself with are a book in there a book like Audible right in front of me. And they can take me to any chair any page in any chapter at any moment of their encyclopedia. So my my goal over the last 15 years has to find to find people where I am not just the dumbest guy in the room. I feel like the smallest. And that has really served me well. Because you find people that are just a wealth of knowledge. And they will give you resources, they will give you books, and when somebody you want to mentor you gives you something to do be the best student they could have ever had. And they'll give you whatever you want. Like it's they'll give you more information and more mentoring, like the the mentors in my life. They're like, do this, this and this. And my goal is to do it faster than anybody has ever done for them. And now they can't wait to tell me the next 10 things, right. That's how you become a good mentee. But again, it's consistency through repetition. And I know that that's that's can be crazy. For some of the people in the room. If you want a great relationship. Make date night, like non negotiable. Like date your kids too. Yeah, in fact, I have this I have this, this actually relates. I'm realizing Another thing about parents that what they do a lot is we tend to praise our children for their gifts. You're so smart. You're such a good painter. You're great at sports. I think what we need to do instead of praise their gifts is to praise their choices. They are not their gifts, right. In fact, if you keep praising them for their gifts that's going to become their identity and then the moment they fail, they think their identity is a mess. They lose confidence. But if we praise their choices, we're actually going to stoke the gift inside Have our children, it enhances their gifts, when you praise their choices, it actually helps a ton. If they don't do, if they don't succeed at something, but they made the right choice, you're going to teach them character by praising the choice, not the outcome. Because again, it comes back to habits, we want to consistently make good choices. Right? One bad choice can kill 100 good ones. But if you've got 1000s of good choices in a row, you're going to be able to see all those dumb ideas and throw them out the window real quick. So this is I think this is just a little come to Jesus moment for you guys. Those of you who are frustrated about the economy or the business deal, or the the EBIT DOM numbers, or the employee being stupid, or whatever, it would be a customer, a customer issue or client problem, a kid thing. It's a great time to be a little introspective here and say, What choices Am I making? To be that person? You know, I mentor a bunch of young men that are just crushing it. These guys are crushing it, they come to my house every month, there's a dozen of them, they get around the campfire. And we we hang out till midnight, and I just mentor them and coach them. And they always ask me about relationships. They always ask me about women. And the only thing I come to every single time is be the man that a woman of your dreams wants to be with. Be the business owner that the client of your dreams wants to work with. It's as simple as that. That one question will help you literally find all the holes in your business right now. So be that person now. Yeah, go ahead. LAUREL

exiting you April 22 23rd. We're going to be in Dallas, Texas, and you're going to be with us. All right.

Oh, long as I'm in the country,

yes. Is the answer. We're just going to figure out how Scott before I transition and so how Scott, given some feedback there in the chat is this like the most it's exactly what I was praying that you do. And thank you for that. Absolutely happy to help to talk about gravy stack. Because every one of you parents, I can tell you. It is one of the tools that you need in your in your tool chest. And especially I would say for those of you who haven't embraced parenting the way you know, Scott, and I do and have and similar. And this is this is one of several right Scott Cesar activity. It's it, you know, for Tristan, because we'd already set a bunch up. So this is she's like, Mama, she's just documenting another thing. So I'll be the first to say that. So we still do it though, because I want to what what's this changed for us in our home? Scott is her home tasks, the home economy of now she's learning like she's cooking with me now. She's when she's goes to the grocery store now. So she's bringing this the things that, you know, I'll be the first to say no, it's not like a surprise I had as a single mom, but my kids had nannies most of their life. They've had, you know, a second mom, a partner, I've had a partner and helping me live this life. So she but now I'm like, we're gonna start moving that stuff away. And you do it, you take on those gigs. And so now she's doing home things we're working, sir, because we have other stuff in other systems. So it's not the only system because I know some of you have been trained way before and some things that I've been doing. To me, this is an amazing compliment. For those of you who had things for you, those of you who've had nothing, this is your starting point. So talk about gravy sack. And then Austin and Damon we're going to transition to the academy.

Yeah, so things are going well, we've been building and building and building gravy stack is again, it's a it's a system for your home, with a bank account to teach your kids to create value everywhere they go. So it teaches them all of the core financial principles have save, spend, share, earn, invest, protect, borrow everything. And it does it through intrinsic motivation, which means that you don't have to fight your kids to do it, they get fired up to do it on their own. So you have expenses in the home that they're in charge of which gives them a motive to earn. They have expectations that they're doing in the home. That's their role, you don't pay for that stuff. And then you have a whole host of gigs that we give you or you can create your own to teach them all the capabilities and skills to earn money and they actually do earn money. And so we have a ton of families that are working in there right now and loving it. And then by the way, Laurel there's a couple updates. So in February, the relaunch of gravy stack goes live. So where we were rebuilding the entire app in React Native, so it's so much easier to do all the good and build the systems and the games are actually going to become more gigs. So we're moving the gaming engine into gigs, unlimited brain gigs and all these challenges that they do to earn. So that's a huge launch. And it's also going to be free to download. We're moving it to free, and it's going to be a freemium model. So they're giving us $1. Whenever they pay the kids on Pay Day, so no more paywall conversion goes through the roof. Yep. And people get fired up to help their families right away. And when they see the value, they're in it forever. So that's a huge change. And then our dinner table.com program is taking off. So we've done 400,000, almost in revenue in the first couple of months. It's our courses and workshops and trainings on family, legacy and financial skills. And so the big update I want to give everyone for that is, you know, we have our family money skills course, we have our foundations workshop, our 18 legacy strategies for your family. And now we have licensing. So we just launched this yesterday. And we're bringing in our first dozen licensees right now. So what they get is basically they can become a family, financial coach. They teach legacy, they teach the skills to the kids and the families. And they can white label all of our stuff and throw it right in there for their employees. For their customers, they can sell their own workshops and courses and coach families. And it's just a brilliant way to serve the people in your community, and in your business and your audience. So if anyone's interested in any of that, just email me, Scott at gravy stack that simple. And we'll get you the information on licensing, but not many advisors,

everybody put me into who the all those are. And then I want to be more involved in the dinners so that, you know, the few times I've been on, it's just like, you know, we just jam together. It's awesome. Yeah,

it's powerful.

I mean, you need you need four things as a successful family. You need tools, mindsets, skill sets, and values. Gravy stack is just a tool, right? And you can use a tool in any way you want it you gotta be trained and how to use the tool. So the dinner table is our mindsets and skill sets and values and all the tools for a successful family. So if anybody's interested just yet, Scott at gravy stack, just send me a quick email. We'll get you the info there. And yeah, we're looking forward to an awesome 2024. Big, big time for us. So

Scott, I want to see you in April. Gotta move your schedule around. We'll figure that out. Billing you there. And I appreciate you but we're wrapping at the top of the hour and about an hour we are already I don't even have to ask Him we will have you all back. So they're actually if you want to go through that you can get those our link on the gravy stack. So you can go there. And Scott, any last kind of words of wisdom or insights,

consistency compounds. I'm going to leave everybody with that. Write that on your wall.

Thank you. Thank you. Thank you appreciate you two pieces. And all of you. I hope that this just I mean we're only three hours and 37 minutes into this and we've got a short time to wrap up which I need to do and we're going to switch gears to the academy where all this consumption for your learning Thank you Scott is going to be