The Money Advantage® Podcast | Infinite Banking Concept & Family Banking

The Money Advantage® Podcast | Infinite Banking Concept & Family Banking

By Bruce Wehner & Rachel Marshall | Family Banking GuidesBusinessEntrepreneurshipEducationSelf-ImprovementInvesting
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The Money Advantage® Podcast | Infinite Banking Concept & Family Banking episodes

  • What Kind of Policy Do You Use for Privatized Banking?


    https://www.youtube.com/watch?v=au5k8SZsAus




    You’re on the hunt for the best life insurance policy to use for Privatized Banking. For this, not just any policy will do. You want to buy exactly the right kind of life insurance to get cash you can use, earn uninterrupted compounding, and have your dollars working in two places at the same time.Life insurance is a powerful product that can serve you in infinite ways at the same time.  But designing a life insurance policy in a way that fulfills its potential has become almost a lost art.



    One type of policy, with particular high-performance modifications, does Privatized Banking best.  The special design ensures that you have high early cash value and maximum long-term growth while maintaining its tax advantages.







    Table of contents* Why You’re Buying a Privatized Banking Policy* Your Questions About What Kind of Policy to Use for Privatized Banking, Answered* Where Privatized Banking Fits into Your Cash Flow System* What Kind of Life Insurance Policy Do I Need?* Term Insurance* Term Insurance and Privatized Banking* Universal Insurance* Traditional Universal Life (UL)* Variable Universal Life (VUL)* Equity-Indexed Universal Life (EIUL)* A Note About Variable Life Insurance* Universal Life, Variable Life, and Privatized Banking* Whole Life insurance* Premiums* Cash Value* Death Benefit* Whole Life Insurance and Privatized Banking* The Only Type of Life Insurance Company You Want to Work With* How Dividends Work* How Dividends Increase Your Policy’s Performance* The Tax Advantages of Specially Designed Life Insurance* What Are the Essentials to Make Sure the Policy Performs Best?* How Do I Build Cash Value Quickly to Invest in Opportunities?* What Makes the Policy Specially Designed?* Flexibility in How Long You Pay Premiums* Storing Your Money in Life Insurance Is Similar to Storing Your Money in the Bank, Only Better* The Bank*
    51 min
  • What Kind of Policy Do You Use for Privatized Banking?
    https://www.youtube.com/watch?v=au5k8SZsAus
    You’re on the hunt for the best life insurance policy to use for Privatized Banking. For this, not just any policy will do. You want to buy exactly the right kind of life insurance to get cash you can use, earn uninterrupted compounding, and have your dollars working in two places at the same time.Life insurance is a powerful product that can serve you in infinite ways at the same time.  But designing a life insurance policy in a way that fulfills its potential has become almost a lost art.
    One type of policy, with particular high-performance modifications, does Privatized Banking best.  The special design ensures that you have high early cash value and maximum long-term growth while maintaining its tax advantages.
    Table of contentsWhy You’re Buying a Privatized Banking PolicyYour Questions About What Kind of Policy to Use for Privatized Banking, AnsweredWhere Privatized Banking Fits into Your Cash Flow SystemWhat Kind of Life Insurance Policy Do I Need?Term InsuranceTerm Insurance and Privatized BankingUniversal InsuranceTraditional Universal Life (UL)Variable Universal Life (VUL)Equity-Indexed Universal Life (EIUL)A Note About Variable Life InsuranceUniversal Life, Variable Life, and Privatized BankingWhole Life insurancePremiumsCash ValueDeath BenefitWhole Life Insurance and Privatized BankingThe Only Type of Life Insurance Company You Want to Work WithHow Dividends WorkHow Dividends Increase Your Policy’s PerformanceThe Tax Advantages of Specially Designed Life InsuranceWhat Are the Essentials to Make Sure the Policy Performs Best?How Do I Build Cash Value Quickly to Invest in Opportunities?What Makes the Policy Specially Designed?Flexibility in How Long You Pay PremiumsStoring Your Money in Life Insurance Is Similar to Storing Your Money in the Bank, Only BetterThe BankSpecially Designed Whole Life Insurance ContractGuaranteed AccessInterestFlexible RepaymentsThe Limiting Factor Is Your ThinkingYour Decision PointRobert P Murphy, Austrian Economics, and How Privatized Banking Really WorksBuild Your Time and Money Freedom
    Why You’re Buying a Privatized Banking Policy
    Let’s back up to gain some context.
    You already have the cash to begin investing.  But instead of draining your savings account to buy the investment, you want to maintain control of your capital.  You know that you can maximize the long-term efficiency of your whole personal economy by using the Infinite Banking Concept.  With it, you get safety, growth, and access to your money.
    To implement this strategy, you’ll first store your capital in a life insurance contract.
    When you want to invest, you’ll borrow against your cash value, using a guaranteed loan feature.  And when you repay the loan, you have the flexibility to choose a pace that works for you.
    Because you’re not using your capital, but collateralizing it, you’ll continue earning uninterrupted compound interest.  Even while you invest, giving you returns in two places at once.
    Now that you’re ready to buy a policy to help you accomplish all that, what do you look for?
    Your Questions About What Kind of Policy to Use for Privatized Banking, Answered
    If you’ve ever spent a minute shopping for life insurance, the process can be downright overwhelming.  It’s easy to feel like the assortment of options is like Baskin Robbin’s 31 flavors. All might be good, but which one is best?
    Today, we’ll answer your most important questions about Privatized Banking policies:
    What kind of life insurance policy do I need?
    What are the essentials to make sure the policy performs best?
    Can I use any cash value life insurance product?
    What makes the policy specially designed?
    How do I ensure it won’t take forever to build up cash value and I can use my cash quickly to invest in opportunities?
    You’ll find out the three major types of life insurance, and why only one works for Privatized Banking.
    51 min
  • Turnkey Real Estate Investing in Memphis, TN, with Mid South Homebuyers


    https://www.youtube.com/watch?v=IVRE4Jk9XY4




    Get to know the team at Mid South Homebuyers.  This conversation will help you determine how and when turnkey rental real estate could help you invest for cash flow.



    Who Are Terry Kerr and Liz Nowlin Brody?



    Terry Kerr



    Terry Kerr was born in 1970 in Memphis Tennessee.  Except for some nomadic travel in his early twenties, has lived in Memphis his whole adult life. Terry enjoys water sports, hiking, and the Memphis Grizzlies with his family. He shares his life with his wonderful wife Elaine and two amazing kids, Amelia 17 and Andrew 13.







    Founder and CEO of Mid South Homebuyers, Terry fell in love with making ugly houses pretty in 2001 and set out to master the business of passing bargains on to bargain hunters. Over the last 15 years, Mid South Homebuyers has purchased, renovated, and sold 1,500+ single-family houses in Memphis to real estate investors across the US and the globe.



    As a turn-key seller, Mid South Homebuyers provides completely renovated investment property, with a built-in property management and maintenance team, to real estate investors who receive passive income while building wealth through real estate.



    Terry is fortunate to call Memphis Tennessee home, where the price-to-rent-ratios for investment property are the best in the country. He is extremely grateful to his incredible team for positioning Mid South Homebuyers as the premier turn-key seller in Memphis and the US. Mid South Homebuyers has renovated over 1.7 million sq. ft. of real estate in Memphis TN.



    Terry attributes the success of Mid South Homebuyers directly to the caring and passionate commitment of his incredible team of professionals who never stop trying to increase value and service for their investor partners.



    Liz Nowlin Brody



    Elizabeth Nowlin Brody is an avid real estate investor who has spent the last 16 years of her professional life working in multiple markets as a multi-unit property manager, a marketing director, a Realtor, a writer, and a public speaker. For the last 8, she's been working side by side with Terry Kerr building Mid South Homebuyers into one of the most successful turnkey providers in the U.S.



    Where Investing Fits into the Cash Flow System







    We love cash flow.  Cash flow today is the stepping stone for cash flow tomorrow.In the Cash Flow System, you first increase cash flow by keeping more of the money you make.  Then you protect your money.  Finally, you increase and make more.Investing is part of stage 3.  Building a cash-flowing asset portfolio of real estate and business accelerates time and money freedom.



    Conversation Highlights (Partial Transcript)



    Investments that Build Wealth Through Cash Flow



    [07:48] It's single-family, blue-collar real estate.  These are solid houses in solid neighborhoods.  Fortunately, about 52% of the Memphis population rent.  This gives us a really large pool of folks to work with.



    Here is the business model:  We’ll buy a house, do a full-blown renovation on the house. It's not a lipstick job. It's not just paint and carpet.  We rip off the roofs, gut the kitchens, gut the bathrooms, update the electrical, plumbing, new heating and air.
    59 min
  • Turnkey Real Estate Investing in Memphis, TN, with Mid South Homebuyers
    https://www.youtube.com/watch?v=IVRE4Jk9XY4
    Get to know the team at Mid South Homebuyers.  This conversation will help you determine how and when turnkey rental real estate could help you invest for cash flow.
    Who Are Terry Kerr and Liz Nowlin Brody?
    Terry Kerr
    Terry Kerr was born in 1970 in Memphis Tennessee.  Except for some nomadic travel in his early twenties, has lived in Memphis his whole adult life. Terry enjoys water sports, hiking, and the Memphis Grizzlies with his family. He shares his life with his wonderful wife Elaine and two amazing kids, Amelia 17 and Andrew 13.
    Founder and CEO of Mid South Homebuyers, Terry fell in love with making ugly houses pretty in 2001 and set out to master the business of passing bargains on to bargain hunters. Over the last 15 years, Mid South Homebuyers has purchased, renovated, and sold 1,500+ single-family houses in Memphis to real estate investors across the US and the globe.
    As a turn-key seller, Mid South Homebuyers provides completely renovated investment property, with a built-in property management and maintenance team, to real estate investors who receive passive income while building wealth through real estate.
    Terry is fortunate to call Memphis Tennessee home, where the price-to-rent-ratios for investment property are the best in the country. He is extremely grateful to his incredible team for positioning Mid South Homebuyers as the premier turn-key seller in Memphis and the US. Mid South Homebuyers has renovated over 1.7 million sq. ft. of real estate in Memphis TN.
    Terry attributes the success of Mid South Homebuyers directly to the caring and passionate commitment of his incredible team of professionals who never stop trying to increase value and service for their investor partners.
    Liz Nowlin Brody
    Elizabeth Nowlin Brody is an avid real estate investor who has spent the last 16 years of her professional life working in multiple markets as a multi-unit property manager, a marketing director, a Realtor, a writer, and a public speaker. For the last 8, she's been working side by side with Terry Kerr building Mid South Homebuyers into one of the most successful turnkey providers in the U.S.
    Where Investing Fits into the Cash Flow System
    We love cash flow.  Cash flow today is the stepping stone for cash flow tomorrow.In the Cash Flow System, you first increase cash flow by keeping more of the money you make.  Then you protect your money.  Finally, you increase and make more.Investing is part of stage 3.  Building a cash-flowing asset portfolio of real estate and business accelerates time and money freedom.
    Conversation Highlights (Partial Transcript)
    Investments that Build Wealth Through Cash Flow
    [07:48] It's single-family, blue-collar real estate.  These are solid houses in solid neighborhoods.  Fortunately, about 52% of the Memphis population rent.  This gives us a really large pool of folks to work with.
    Here is the business model:  We’ll buy a house, do a full-blown renovation on the house. It's not a lipstick job. It's not just paint and carpet.  We rip off the roofs, gut the kitchens, gut the bathrooms, update the electrical, plumbing, new heating and air.  The houses are in better shape typically when we finished rehabbing than it was when it was first built, just because of higher-end finishes.
    And we provide the best value for the resident that exists in the Memphis market.  We have slightly below market rents, with the best rehab, and so we have the lowest turnover, and that's the key. We have the lowest turnover of any management company in Memphis, so the longest resident average stay.  Turnover is the biggest killer for folks who own investment property, so if you can keep people in the house and keep them from moving out, that's the ticket.
    There are a lot of things that go into making that possible.  In big, broad strokes, if the resident is happy and the resident stays,
    59 min
  • Early Tap of the 401(k) Replaces Homes as American Piggy Bank (Reviewed)


    https://www.youtube.com/watch?v=xr8cAp9ygAQ




    Piggy banks may seem best suited to our childhood era.  We mentally organize them with wagon-rides, tooth fairies, and the endless pencil-sharpening of early grade school.  But as adults, we need and use piggy banks; they just come in a different form.  When people need money for life’s setbacks and lean times, one of the most accessed “piggy banks” is the 401(k), says Richard Rubin and Margaret Collins, in the Bloomberg article, Early Tap of 401(k) Replaces Homes as American Piggy Bank.Financial products are designed for a specific job.  They may disintegrate when called upon for side jobs outside their area of expertise.  The 401(k), intended for retirement planning, presents serious concerns when doubling as a piggy bank.  Taxes and penalties add hardship in some of life’s darkest financial times when money is tight.



    This article addresses the market and social forces that caused this phenomenon of this shift in asset choice.  It honestly assesses the problems with using the 401(k) as a piggy bank and proposes solutions.



    In addition to discussing the points of this article, we’ll separate fact from opinion.  We'll help you think through the savings and protection component of your personal economy.  Then, you’ll be able to progress toward time and money freedom, while best handling financial challenges along the way.







    Table of contents* Why You Need a Piggy Bank* Where a Piggy Bank Fits into Your Cashflow Creation System* The Problems with Using a 401(k) as a Piggy Bank* The Money is Not All Yours* A Penalty to Use Your Money* Penalties in the Billions* Required Repayments Limit Flexibility* A Retirement Crisis* The Systemic Financial Crisis in a Different Light* #1: Compartmentalized Money* #2: Lack of Accessibility* #3: Lack of Guarantees* Average vs. Actual Returns* The Shift from Using Home Equity as a Piggy Bank* Suggestions to Fix the Problem* The One Question We Should Ask Instead to Gain Control* A Better Alternative to Store Cash



    Why You Need a Piggy Bank



    Just because you’ve outgrown the childhood scrapes, bruises, and dirt under the fingernails doesn’t mean you’ve outgrown the need for a piggy bank.  One of the most predictable financial needs is to have accessible cash that you can
    37 min
  • Early Tap of the 401(k) Replaces Homes as American Piggy Bank (Reviewed)
    https://www.youtube.com/watch?v=xr8cAp9ygAQ
    Piggy banks may seem best suited to our childhood era.  We mentally organize them with wagon-rides, tooth fairies, and the endless pencil-sharpening of early grade school.  But as adults, we need and use piggy banks; they just come in a different form.  When people need money for life’s setbacks and lean times, one of the most accessed “piggy banks” is the 401(k), says Richard Rubin and Margaret Collins, in the Bloomberg article, Early Tap of 401(k) Replaces Homes as American Piggy Bank.Financial products are designed for a specific job.  They may disintegrate when called upon for side jobs outside their area of expertise.  The 401(k), intended for retirement planning, presents serious concerns when doubling as a piggy bank.  Taxes and penalties add hardship in some of life’s darkest financial times when money is tight.
    This article addresses the market and social forces that caused this phenomenon of this shift in asset choice.  It honestly assesses the problems with using the 401(k) as a piggy bank and proposes solutions.
    In addition to discussing the points of this article, we’ll separate fact from opinion.  We'll help you think through the savings and protection component of your personal economy.  Then, you’ll be able to progress toward time and money freedom, while best handling financial challenges along the way.
    Table of contentsWhy You Need a Piggy BankWhere a Piggy Bank Fits into Your Cashflow Creation SystemThe Problems with Using a 401(k) as a Piggy BankThe Money is Not All YoursA Penalty to Use Your MoneyPenalties in the BillionsRequired Repayments Limit FlexibilityA Retirement CrisisThe Systemic Financial Crisis in a Different Light#1: Compartmentalized Money#2: Lack of Accessibility#3: Lack of GuaranteesAverage vs. Actual ReturnsThe Shift from Using Home Equity as a Piggy BankSuggestions to Fix the ProblemThe One Question We Should Ask Instead to Gain ControlA Better Alternative to Store Cash
    Why You Need a Piggy Bank
    Just because you’ve outgrown the childhood scrapes, bruises, and dirt under the fingernails doesn’t mean you’ve outgrown the need for a piggy bank.  One of the most predictable financial needs is to have accessible cash that you can save for emergencies and opportunities.When you need to replace tires, have medical bills to pay, a child’s wedding or college, or want to buy a rental property, where will you get the cash?
    Having access to cash is such a consistent and guaranteed need.  By planning ahead and storing cash that will be there when you need it, you’ll bolster your peace of mind.
    But without available cash, you’ve got to use tools that aren’t ideal, like home equity, retirement savings, or a credit card.
    Where a Piggy Bank Fits into Your Cashflow Creation System
    Building a stockpile of savings is to help you weather months of tight income or unforeseen expenses will move you light years ahead towards peace of mind and financial stability.  But it’s just one small step of a greater journey of building time and money freedom.  
    That’s why we’ve put together the 3-step Entrepreneur’s Cash Flow System.  
    The first step is keeping more of the money you make.  This includes tax planning, debt restructuring, cash flow awareness, and restructuring your savings so you can access it as an emergency/opportunity fund.  This step frees up and increases your cash flow, so you have more to save, and consequently, more to invest.
    Then, you’ll protect your money with savings, insurance and legal protection.  Here, you’ll create the right canopy of protection in your financial life.  This second stage encompasses all aspects of Privatized Banking, a key savings and capital deployment strategy that secures your access to capital, maximizing your control, by allowing you to be your own banker.
    Finally, you’ll put your money to work and get it to make more by investing in cash-flowing assets to build time and mone...
    37 min
  • Infinite Banking Concept (IBC): The Golden Key that Unlocks Your Financial Life


    https://www.youtube.com/watch?v=0AIoJylhZNI




    You play a big game, and you want your money to keep pace. Being in control is essential to you, and your money is no exception.  You don’t have time to be strung along every year, hoping for better returns. Instead, you want to be able to count on your money to give you confidence and certainty. You want the cash available to invest in what you understand and control – what matters most to you. Because you’re discerning and savvy, you don’t place stock in magic bullets.  Instead, you want a system that works as long as you live, improving over time like a fine wine. The Infinite Banking Concept (IBC) fits your criteria.



    Privatized Banking is a golden key that unlocks and improves every other area of your financial life. With it, you reduce taxes, increase safety and liquidity, while earning competitive growth with built-in contractual guarantees. This elevates your ability to perform at the highest level in your life and business.







    Table of contents* The Ideal Solution* Where The Infinite Banking Concept Fits into Your Cash Flow System* What Do You Want Your Money to Do?* Why The Infinite Banking Concept Is the Perfect Hire* 1) Provide Safety, Control, and Certainty* 2) Accessibility* 3) Emergency/Opportunity Fund* 4) Uninterrupted Compound Growth* 5) Competitive Rate of Return* 6) Reduce the Interest You Pay* 7) A Debt-Free Weapon* 8) Tax Benefits* 9) Shrinks Opportunity Cost* 10) Increases Protection* 11) Each Dollar Does More Than One Job* 12) Peace of Mind* 13) Legacy Transfer* If Those Aren’t Your Goals, the Infinite Banking Concept Is Not For You* What Is The Infinite Banking Concept?* Infinite Banking Concept: A Process That You Do* What Makes Whole Life Insurance the Perfect Vehicle for the Infinite Banking Concept?* High Cash Value* A Place to Store Cash* Dividend-Paying* Whole Life Insurance* Contract* With a Mutual Company*
    51 min
  • LifeBook: Creating an Extraordinary Life, with Jon and Missy Butcher


    https://www.youtube.com/watch?v=Hkko7rdyVUc




    You are a creator!  You can create and live your own extraordinary life, starting right now. And here are the tools to do so, right at your fingertips!  Jon and Missy Butcher, founders of LifeBook, have embodied creating their own life. And you can do that too. To quote Steve Jobs, “Everything around you that you call life was made up by people that were no smarter than you, and you can change it, you can influence it. You can build your own things that other people can use.”



    If what you see around you is not helping you create the life and business you love, you can recreate it.  You can design your own life.



    What began as a personal transformation journey for Jon and Missy Butcher has now helped thousands transform their lives into a masterpiece by gaining a clear vision of the person they want to become and the life they want to live, and then mapping out the steps to get there.  Part of that process is recognizing the limiting beliefs you have in that area and developing a healthy consciousness instead that allows you to fulfill your potential.







    Table of contents* Where Your Mindset Fits into the Cash Flow System* Who Are Jon and Missy Butcher?* Jon and Missy Butcher Conversation Highlights (Partial Transcript)* The Beginning of an Extraordinary Life* A Respectful Disregard Allowed Them to Chart Their Own Path* LifeBook Was Born from Radical Personal Growth and Transformation* What Does It Mean to Have Wealth in Every Category of Life?* Abundance, Gratitude, and Wanting More* What Is Money?* An Empowering View of Money* FROM Conquest and Competition TO Collaboration and Creation* The Twelve Categories of LifeBook* The Four Questions to Ask and Answer in Each Category* 1) What are my beliefs in this category that control my behavior? * 2) What precisely, with clarity, do I want in this area of my life?* 3) Why do I want that? What's the purpose behind that vision? What am I going to gain if I achieve that, and what am I going to lose if I don't?

    * 4) What do I need to do to get it? What's my strategy? How do I move toward this every day?* Why LifeBook Works* Other Topics Discussed with Jon & Missy B...
    1 hr 5 min
  • LifeBook: Creating an Extraordinary Life, with Jon and Missy Butcher
    https://www.youtube.com/watch?v=Hkko7rdyVUc
    You are a creator!  You can create and live your own extraordinary life, starting right now. And here are the tools to do so, right at your fingertips!  Jon and Missy Butcher, founders of LifeBook, have embodied creating their own life. And you can do that too. To quote Steve Jobs, “Everything around you that you call life was made up by people that were no smarter than you, and you can change it, you can influence it. You can build your own things that other people can use.”
    If what you see around you is not helping you create the life and business you love, you can recreate it.  You can design your own life.
    What began as a personal transformation journey for Jon and Missy Butcher has now helped thousands transform their lives into a masterpiece by gaining a clear vision of the person they want to become and the life they want to live, and then mapping out the steps to get there.  Part of that process is recognizing the limiting beliefs you have in that area and developing a healthy consciousness instead that allows you to fulfill your potential.
    Table of contentsWhere Your Mindset Fits into the Cash Flow SystemWho Are Jon and Missy Butcher?Jon and Missy Butcher Conversation Highlights (Partial Transcript)The Beginning of an Extraordinary LifeA Respectful Disregard Allowed Them to Chart Their Own PathLifeBook Was Born from Radical Personal Growth and TransformationWhat Does It Mean to Have Wealth in Every Category of Life?Abundance, Gratitude, and Wanting MoreWhat Is Money?An Empowering View of MoneyFROM Conquest and Competition TO Collaboration and CreationThe Twelve Categories of LifeBookThe Four Questions to Ask and Answer in Each Category1) What are my beliefs in this category that control my behavior? 2) What precisely, with clarity, do I want in this area of my life?3) Why do I want that? What's the purpose behind that vision? What am I going to gain if I achieve that, and what am I going to lose if I don't?
    4) What do I need to do to get it? What's my strategy? How do I move toward this every day?Why LifeBook WorksOther Topics Discussed with Jon & Missy ButcherTransform Your Life Today with Jon & Missy Butcher's LifeBook SystemCreate Your Time and Money Freedom
    Where Your Mindset Fits into the Cash Flow System
    At The Money Advantage, we are a community of wealth creators.  We are entrepreneurially-minded business owners who are taking control of our lives and financial destiny.  We have a compass that always points back to the principles of wealth, not just to strategies or products.  You need the right mindset, philosophy, and principles of abundance, expansive thinking, creation, cash flow, and control in place first before any financial tactics can genuinely benefit and serve you.
    In the Cash Flow System, you first increase cash flow by keeping more of the money you make. Then you protect your money.  Finally, you increase and make more.
    This conversation on the mindset, philosophy, and principles of wealth creation fits right into the very first step of the first phase.
    Who Are Jon and Missy Butcher?
    Jon & Missy Butcher are serial entrepreneurs, whose life together revolves around their love for each other, their four children and their work.
    Together, they have founded 19 companies, organized around causes that matter.
    As creators of Lifebook, an extraordinary system that has helped thousands transform their lives from ordinary to a living masterpiece, Jon and Missy Butcher have discovered how to defy aging, experience long-lasting love, redefine education for their children and build the ideal living environment in which to thrive.
    Other companies Jon and Missy Butcher own or have co-founded include:
    Purity Coffee – our value proposition is the cleanest, healthiest coffee on earth.Artists for Addicts – our mission is to change the global conversation surrounding addiction from one of judgment to one of compassion –...
    1 hr 5 min
  • Don’t Be a “Rugged Individualist” – Delegate! (Reviewed)

    As entrepreneurs building growing businesses, it often becomes necessary to transform ourselves. Innovation requires shedding our old thought patterns and ways of operating, so we can embrace new ones that serve us better.  Dan Sullivan, of Strategic Coach, outlines this phenomenon in his growth-provoking article, Don’t Be a “Rugged Individualist” – Delegate!



    He contrasts two ways of being. As fledgling entrepreneurs, we embody the tenacity and grit of “rugged individualist.”  Perhaps initially we can’t afford to hire out.  We resort to doing everything ourselves, from marketing, sales, technical expertise, service, managing, hiring, training, picking up supplies, cleaning the bathrooms, etc.  But as we expand, this individualism can quickly become stunting, and downright ridiculous.



    The maturing business owner must shift from an “I can do it myself” perspective to one of “who can do this better than me?”



    Trying to do everything yourself limits the good you can do.  Instead, focus on your strengths, spend your time there, and delegate everything else. In this way, you’ll accomplish much more together as a team.







    Table of contents* Where Entrepreneurship Fits into the Cash Flow System* Why Delegation Is a Prerequisite to Creating Your Ideal Life* Rugged Individualism Comes from a Scarcity Mindset* The Two Top Reasons to Delegate* Guidelines for Effective Delegation* Start Before You’re Ready* Delegate to Build Your Wealth Creation Team



    Where Entrepreneurship Fits into the Cash Flow System







    We love Entrepreneurship.  Business owners emphasize and focus on cash flow over accumulation.



    In the Cash Flow System, you first increase cash flow by keeping more of the money you make.  Then you protect your money.  Finally, you increase and make more.



    Entrepreneurship is part of Investing in stage 3.  Building a cash-flowing asset portfolio of real estate and business accelerates time and money freedom.



    Why Delegation Is a Prerequisite to Creating Your Ideal Life



    In the early stages of business, you may be tempted to think that just because you’re good at your craft, that will automatically translate to building a successful business.  But often this start-up strength can become a weakness in the scaling phase.



    If you’re focusing on things that aren’t your core strength, you’re going to have a hard time moving forward.  Not only is it demoralizing and damaging to your confidence, but the progress is slow.  It arrogantly blinds you from recognizing the talents and skills of others around you.



    Building a self-sustaining business that doesn’t depend on you requires ...
    45 min

About The Money Advantage® Podcast | Infinite Banking Concept & Family Banking

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The Money Advantage® Podcast helps successful, legacy-minded families turn wealth into stewardship, unity, and multigenerational impact through the Infinite Banking Concept, Family Banking, legacy…

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