28. Paul Halme (Passive Income & Wealth)
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[00:00:00] Paul: Don't be scared. Those guys in the branches and stuff like that, they want new people coming in there because then they can educate You, get you to be an investor, and then the money sticks around. Then your 500 becomes 10 grand, becomes a hundred grand, becomes a million dollars, and you're a customer for 20, 30 years, and then they make all their money on the back ends.
[00:00:13] Paul: They want to help you, but people are always like, oh, we don't, when I get money, I'm gonna walk in there and get some help. It's like, no, start learning now. Walk in there and.
[00:00:24] Mickey: Most business owners and entrepreneurs are secretly sick of hustling, and if you are too, you're in the right place. Welcome to the Hustle Less Profit More podcast with me, Mickey Anderson, where we're revolutionizing success because you should have it all. Business success, lasting wealth, freedom, and fulfillment.
[00:00:44] Mickey: Join me on this quest to uncover the keys to defining and achieving success on our terms so we can all hustle. And profit more. Paul Halley went from working as a stockbroker for a major Wall Street firm to entrepreneur. He specialized in helping entrepreneurs fix their finances and buy assets to create passive income.
[00:01:07] Mickey: Chich something we are all passionate about. In this episode, we talk about the lessons he learned running fitness businesses and how you can translate those lessons into cash and passive income. I hope you enjoyed this episode. All right. Well, um, thanks again for being here. I'm excited to, to chat with you.
[00:01:26] Mickey: I would love to get started knowing how you went from Wall Street to being the finance person for not just martial arts gyms, but all entrepreneurs.
[00:01:36] Paul: Yeah, it's been a crazy story. Uh, it's been a crazy run. So I grew up, uh, small town in South Dakota of all places, and then ended up in Texas and one thing led to another ended.
[00:01:45] Paul: it was in 2001, and I met some guys. They were like, I'd see 'em at jujitsu. And I'm like, man, you guys dress pretty nice and nice cars. What are you guys doing? Like, oh, we're stockbrokers. I'm like, oh, I'd like to do that. And they were like, like, do you have a degree? And I was like, sure, yeah, I do. And they're like, cool, we're hiring.
[00:01:56] Paul: You know, as long as you got a good personality. And I'm like, oh yeah, I got that covered too. So ended up doing that in 2001, which was amazing. It was, I got to experience the.com burst and then of course nine 11 here in the US when the market's tanked and everything. So it was a really cool. To learn about money.
[00:02:09] Paul: Cause I grew up not talking about money. My parents didn't talk about money. It was kind of like, oh, don't talk about money. And I got to see the other side of the coin. But I'm like, money's not an evil thing. It's an amazing thing that, you know, gives you so many things you can do. And so I did that for uh, almost six years, you know, and it was crazy cause I had everything I ever wanted.
[00:02:24] Paul: The American dream, they called, I had the house wife, two kids, the dog corporate job, making great money, great benefits. And I just still wasn't happy. I was like, this is it. This is the next 40 years of my life is just trying to get. Promotion or laterally moved to a different department and get a raise and just something kept pushing me to do it.
[00:02:40] Paul: And my friend who I met in college in South Dakota, the reason I moved down to Texas is he was like, this is back in 1997. He's like, I'm gonna move to Texas and I'm gonna train to fight in the ufc. And I'm like, oh, that sounds horrible, but okay, cool. And so we came down here. And long story short, he actually did it.
[00:02:53] Paul: He fought in the ufc, one of the Ultimate Fighter four. His name's Travis Looter. Um, my best friend still. And he's the reason that I'm down here. So it, it's been crazy. And then he had a gym, I started helping out with hiss stuff and I'm like, man, it's entrepreneurship. Stuff's pretty cool. You can kind of come and go as you please.
[00:03:05] Paul: And you know, probably started for all the wrong reasons, but then fell in love with it. And I tell people I traded my 40 hour a week job for a hundred hour a week job . I just work all the time, but I.
[00:03:14] Mickey: Oh man, that's amazing. I feel like so many of us can relate to that because I know when I left, like my corporate quote unquote job, I was like, entrepreneurship, I'm gonna make my own hours, I'm gonna work less.
[00:03:23] Mickey: Doubled my hours, at least at first, like. So really what I wanna start with is, you know, you chat about this in your book, the Money Fight. Mm-hmm. , you talked about your childhood and how most of us don't learn about money or learn that money is an evil thing. And I'd love to know more about how our childhood shapes the way that we look at finances and money in general.
[00:03:42] Mickey: It's
[00:03:42] Paul: really bad. I mean, if you think about it, and I, I joke around about like, rich kids get an unfair advantage. And it's true. It's because I grew up, my family, you know, we were middle class, probably lower than middle class, but we had never had any money. We never did anything. Every time I ask for something and money doesn't grow on trees, we can't afford that money's evil.
[00:03:57] Paul: And it was like you program these kids to think like that. So here I am, move to Texas, you know, I've got this horrible mindset. I get a job as a stockbroker. I'm, next thing, don't talk to people on the phone that have like millions of dollars. And I'm like, like freaked out, like, oh my God, these must be.
[00:04:09] Paul: The smartest human on earth or the most, you know, blah, blah, blah. And they're like, no, I put off $400 a month away in my 401K for 40 years and now I have 2.3 million. And I'm like, wait a second. They're just average people doing things consistently. I'm like, there's nothing special. And then through Jujitsu's been an amazing gift.
[00:04:24] Paul: Like I've been so lucky that I got involved in jujitsu and then having my jujitsu gym. Cause I got exposed to a lot of people that I normally wouldn't of. I, you know, I have students that are surgeons, uh, lawyers, federal agents, police officers, all the different things. And then the ones that were entrepreneurs.
[00:04:37] Paul: Got closer to them because we have like weirder schedules, so it's like, you know, they're off work, people are working vice versa. So I'd go have lunch with them or I'd go to their house and see like talk to their kids and I'm like, wait a second, you guys talk about money and like investing and the future.
[00:04:49] Paul: My parents just told me, you know, get a job, get a pension, and maybe you can retire when you're 65. I was like, So, yeah, it's like mindset's such a huge thing and people, I still have like mind money mental blocks where it's like, oh my God, no, don't say that. You can't say that. You have to think differently about this.
[00:05:03] Paul: Cause there's, there's just so much opportunity
[00:05:04] Mickey: out there. You know what's funny that you mentioned that because I, I go through the same thing. I'll think like I'm on a roll, I'm thinking abundantly, I'm doing all like right mindset things and then all of a sudden I'm sh whacked with this whole like, down the spiral negative thinking about money, your finances or whatever.
[00:05:19] Mickey: And I think. I think you're, it's like an ongoing battle, right? You never actually get it. It's a journey, but as long as you keep moving in the right direction, you're gonna end up more successful.
[00:05:28] Paul: Yeah, exactly. It's, you just have to keep that mindset. And it's hard sometimes too, because you can catch yourself like watching the news too much and you're like, oh my God, how'd I get so negative?
[00:05:35] Paul: It's like, news is off. Turn the news off. It's like, get away. Go for a walk. You know? Go exercise. You feel better. Then your mind kind of clears. You're like, oh, okay. Life is not so crazy. It's not so bad. You know, the whole world's not gonna end, you know, so it's, they've been going, everybody knows that. It's been the last couple years of like, oh, what's gonna end the world now?
[00:05:50] Paul: like,
[00:05:51] Mickey: mm-hmm. every day. It's like, okay, come on. Can we get a break please?
[00:05:54] Paul: Just a.
[00:05:56] Mickey: Oh man. You know, a lot of our audience are service providers and brick and mortar businesses in the health and wellness industry, and I know you have a ton of experience there and something that you talk about is how most, I know martial arts gyms, but most service wellness businesses in general just don't make money.
[00:06:13] Mickey: Can you tell me more about why that is?
[00:06:15] Paul: It's basically become, it's a pattern. I saw a lot in my industry, you know, with Marks large gyms, and I started helping people in other industries and then going to these different conventions and marketing things to talk to people. And it's like, man, we all have the same problems.
[00:06:26] Paul: And a lot of times when you're getting started or things like that is you think you have to do everything cause you're trying to save a few bucks, but you're not doing the things you need to do. So what. , we're always working in our business. Like when, like when I first opened my gym, I, I joke around like I was the guy that locked, unlocked the door in the morning, did everything in between and locked the door at night.
[00:06:43] Paul: And then I'm like, who's doing the marketing? Who's doing this? And I'm like, uh, I don't know. We got a sign . So it's like, so then I was like, okay, I gotta start hiring people. So I got some good mentors who are like, no, you need to hire an assistant coach. You need to hire this. Then you could free up the time.
[00:06:55] Paul: So you're not doing these 10 to $15 an hour tasks, you're doing the thousand dollars an hour tasks where. You know, marketing, creating revenue, sending emails to old clients, to prospects. There's just so many things that we don't do in the business where, you know, if we focus on building the business, then it's like, oh my God, there's a lot of money in this.
[00:07:13] Mickey: Yes. You know, there's this mindset shift that I've noticed and it's, it's a hard one to get over. It's where you think you're saving yourself money, you're saving yourself. Money by doing it all yourself. Either it's gonna cost too much to outsource this or it's gonna take too much time to train someone else to do it or whatever.
[00:07:31] Mickey: We come up with all these different excuses. But once you get over that hump and realize that like time is your money and the more time you have, the more you can generate. It's just, it's wild. The changes you can
[00:07:42] Paul: create. Yeah, it's, it's, you get so much. . It just creates more and more leverage where you can do these things and they all compound and then you're doing the, the higher dollar things.
[00:07:50] Paul: Then you're like, Hey, we're making more money now. This is great . Now
[00:07:53] Mickey: when we talk about being profitable, uh, finding your market, I know can be really tricky. And then finding the language to speak to that market can be even trickier. Especially if you have like the curse of knowledge where like, say for example, you run a martial arts gym and you know, all the martial arts lingo.
[00:08:09] Mickey: Yeah. Don't
[00:08:10] Paul: use and you use it. Yeah, stop using
[00:08:13] Mickey: it. Exactly. Do you have any tips for the listeners on how they can first identify who their market is and then use the right language to speak to
[00:08:20] Paul: them? Yeah, one thing, and not to plug a book that's not mine, but like if you ever read Building a Story brand is like unbelievably amazing book that like gives you the roadmap to do a lot of these things.
[00:08:29] Paul: But one thing that helped me a lot is I changed the way I talked about things as I evolved. So in the beginning my gym was younger guys wanting to do M M A and all this stuff, and I'm like, , this avatar has no money. And it's like I'm marketing to a broke avatar and I'm like, okay, I want guys. So I went through a thing and listed out, like I have my whole avatar.
[00:08:46] Paul: I've listed out like, you know, he's 35 years old, he is married, two kids, has a great job, drives a, a Mercedes. You know, I know who I want. So when I talk, I talk differently than all my competitors do. It's like I tell people if they're. and like my big one, people like, oh, your gym's a little bit expensive.
[00:08:59] Paul: I said, yeah, we're the Apple store, you know, we're not the Walmart of Jiujitsu. And people are like, and then there's kinda like, whoa, wait a second, there's Walmarts of jujitsu. I'm like, oh yeah. Have you been in other gym? Have you smell this? I won't even tell you. Just go in there and smell it. And they'll be like, yeah, that place was gross.
[00:09:12] Paul: So I'm like, yeah. So I, I make our gym cater higher in like we have it cleaned all the time. We have air fresheners. I actually, I joke around cuz I'm a guy and it's a guy's world in the MMA world. Unfortunately I wish more women would get involved in it. But what I did one time when I was first really going out, this avatar is, Offered one of the moms in kids' class cuz she was a designer, like fashion stuff.
[00:09:29] Paul: Like she would help like women dress and men and all this. Like, she was super good at that stuff and I was like, Hey, can I have you walk my gym from front door to back door and through and write down everything that's wrong in your eyes? And I gave her a sheet of paper and I'm like, yeah, piece of cake.
[00:09:40] Paul: Nah. I got it back and it was two sides filled out. I was like, I was like, oh my God, I'm, I'm, because like for guys we're like, Hey, the gym's clean and it, it doesn't stink. Let's train . You know? And it's like, so it it, I, I just, you know, in any service industry you can do that. Just get that little extra, like the little thing they're not expecting.
[00:09:56] Paul: Like, people come into my gym, it's an m m A gym, but in the bathroom there's flowers, you know, in the windowsill there's flowers. It's like, there's bamboo trees, like these ones that have 'em from the gym too. So like, people are kind of like, it kind of relaxes people and they kind of feel more comfortable.
[00:10:08] Paul: So it's not like this, you know, egomaniac driven.
[00:10:11] Mickey: You know what I love about that advice? It's not like the big things. It's not believe restructuring your business. It's putting flowers on the table, right? Like , it sounds so simple, but those little pieces are so memorable and they set you apart in the mar.
[00:10:25] Mickey: Oh, I, I love that advice. .
[00:10:27] Paul: Yeah, it was so funny cuz I'd had the gym for probably. Oh God, 10. I've had my gym for 20 years next year, so 19 years this year. And I'd probably had the gym for 10 or 12 years and I'd never done any of that stuff. So now it was, it was so funny to hear somebody say like, well, you really need some flowers.
[00:10:40] Paul: And I was like, for what? And she's like, for the moms, you have a lot of, you have a kids' class, right? And I'm like, yeah, the moms like color. They like, you know, it's, it's just nicer. And I'm like, Never thought of that in my life, you know, and it's so, it helps, it gives my gym a different field than all the other gyms in the area cuz it's just so different.
[00:10:55] Paul: I love
[00:10:56] Mickey: that. You know, one of the things I hear all the time is my client is
[00:10:59] Paul: everyone though ? Yeah. No, you don't want everyone. Yeah.
[00:11:03] Mickey: It, it's, it's such a shift when you finally realize who your client is and it's not always the person. You first think, right? That can evolve over time and change over time.
[00:11:12] Mickey: When you build your website or you're looking at your website, obviously your physical location, you've made these small changes and tweaks to help cater to the audience, but your website is now a lot like a storefront. Are there ways that we can make our website more effective at attracting the right clients?
[00:11:26] Paul: Oh yeah, for sure. Definitely. It especially like could be service industry. Like I use AC a lot cuz I'm in Texas and ACS a big, big business here. People make a ton of money with that and it's like, look at your website compared to other people, are people happy on there? You know, like my website and my gym is happy people.
[00:11:41] Paul: It's not like big tough guys all like, ooh with their shirt off. It's like the last thing I want, I'm trying to cater to my avatar who was, you know, 35 years old, you know, was a little bit over. A little self-confident, you know, lost his edge from high school and college. And, and the wording too is spend, I tell people this, spend some money on a copywriter if you can afford it.
[00:11:57] Paul: If not, then go through like StoryBrand or go through some of these other, uh, Ray Edwards has another good, but I think writing copy that sells. But learn a little bit about copywriting cuz like my website. . If you go to my M M A gym website, it's like, you know, we cater to families. We're the cleanest gym in Keller.
[00:12:12] Paul: We're the most friendly, you know, the words that my competitors would never use and hopefully they're not listening to this, but , they won't do it. That's the funny thing too, is they listen to it, they won't do anything cause they think I'm insane. But my wording on my website's so different than everybody else.
[00:12:24] Paul: It's like I'm catering, I'm talking to that person. So when you look at your website, make sure your website's talking to that person, you know, cuz. , depending what your industry is and who your avatar is, you can dial it ins so well, you're speaking to that person and a lot of times they come in and they're, they're pretty much pre-sold.
[00:12:37] Paul: You're not even selling, you're just taking an order and helping them out with the best
[00:12:41] Mickey: solution. Yes. I love it. You're like qualifying your audience essentially. Like if you, if you fit this , you're, this is your place. Yes. I love that. Now, one of the biggest goals that I've had in my career, but I know a lot of our listeners have, is to find ways to earn passive.
[00:12:58] Mickey: Dun da . It seems like the, this mythological creature that everyone's trying to capture, right. . Um, but I know that, that you obviously have a great deal of insight to share on how we can start to generate some passive income in our
[00:13:12] Paul: lives. Yeah. That's one of my favorite subjects to talk about, but it's also the hardest one to talk about cause everybody wants it now.
[00:13:17] Paul: Mm-hmm. . And unfortunately, you know, if you followed like any of the crypto world stuff and all that stuff, everybody's like, oh, you. 25% forever and blah, blah. And it's like, that doesn't make any sense. How's this working? And of course we found out this year it actually didn't work, . So it's like, it's, I tell people, it's like passive income is the coolest sounding thing, but it, it takes forever.
[00:13:35] Paul: It's a really slow process. So I tell people is you gotta start now. You know, in the best. Like, I should have started 20 years ago. Well, you didn't, so let's start today. and just get started. Cuz you know, I'm 47 now. I've been doing this, I joke around, um, uh, was a broker. My first year was, I was 26, so I'm like halfway through my 40 year plan, which sounds weird to say out loud, but I'm not where I want, I'm not even, I'm just halfway where I'm trying to get to.
[00:13:56] Paul: But when I got to this point, at about that 15 to 20 year mark, you start seeing like crazy things happening and you're like, oh my God, I can do these things. So, and what I've been telling people even before, 2020 in the pandemic and everything is one of the hardest things to do is to realize once you start creating cashflow and profiting your business, you have to learn to take money out of your business.
[00:14:14] Paul: You have to move money away so you have something else that's building. So, you know, in the US IRAs, 401k, obviously you're self-employed. You probably can't get a 401k, but an ira, some kind of retirement account, an everybody knows an emergency account. , I tell people I have a fun account plan for like incidental expense account just to take that pressure off and then you start putting money away and it's so easy to show people, but they don't want to do the long term work.
[00:14:37] Paul: You know, there's so many different calculators out there you can use. And I have one with my book online that people can use. It's like, you know, if you put in $500 a month at 9.5% a year for 40 years is like $1.1 million. So anybody can do it, but you've gotta commit to 40. and people are like, well that sucks.
[00:14:52] Paul: I just wanna do what you're doing now. Cuz now when I'm at a phase where I'm like, I've been doing that and I max those things out, and now the businesses are doing good, so now I take money. That's from those things. And now I started buying into other businesses where I'm a silent investor. I have no say in anything, which means I have no responsibility, which to me is the ultimate.
[00:15:09] Paul: Passive income thing. But the problem is a lot of clients, I talk to, people in my world, they see what I'm doing. Like, well, I wanna do what you're doing. I'm like, well, did you do phase one and two? And they're like, Nope, I wanna do phase three. And I'm like, well, I hope you inherited a lot of money, or you have a rich uncle that's gonna give you money cuz it took me 20 years, you know?
[00:15:24] Paul: 15 to 20 years to get to this point where I could do these things. And that discouraged people. I don't wanna be discouraged. I want 'em to switch it, their mindset and think like, Hey, you know what? I'm gonna start this now. Like, I had a really cool story that was at a jujitsu tournament and I'd saw a student that I hadn't seen in years.
[00:15:37] Paul: It was a, a, a single mom, super nice lady. And she kept me. She's like, I have to thank you. And I'm like, You haven't been at my gym in like four years. I'm like, what do you, I mean, okay, yeah, you still do jujitsu? That's awesome. Great job. She's like, no, I've been, I read your book and I've been listening to the podcast you're on and I follow your Instagram.
[00:15:50] Paul: And she goes, I'm a single mom. I've never had any money in my life. And she goes, and I, so I started off real small with Acorn and then she's like, that got real basic. And then I started doing some other stuff. She, then I got a Vanguard account and she goes, I just hit. That has cleared 10 grand. I've ne I can't believe it.
[00:16:04] Paul: I have $10,000 and I'm like, you know what you're doing more than most people. Cause people always tell me like, when I get money, I'm gonna do this and then I wanna roll my eyes, but I don't want to look at 'em and roll my eyes. But internally, I'm rolling my eyes. I'm like, no, you're never gonna do this if you, if you wait till you have money, cuz you're never gonna have money.
[00:16:18] Paul: Cuz as the bigger my business gets, the more bills I have. But yes. But if you just start, you can do so
[00:16:23] Mickey: much. Oh, you know what? You just said something that I want the listeners to, to hear one more time. As your business grows, your expenses will, . It's natural. That's what happens. Your profit margins don't naturally keep going up unless you do it intentionally.
[00:16:37] Mickey: I what? Great advice, and I think so many of us wanna skip over the tough stuff. It's like when I, I worked in health and wellness as well back in the day and it's, no, I don't wanna do the crunches of the running. I just want the six pack abs . It's like,
[00:16:49] Paul: It's like not gonna happen. Oh, and we're all, and like I said, we're all guilty of it.
[00:16:52] Paul: You know, we start making more money. You get a nicer car, you buy the nicer workout clothes, you get the new Beats headphones, and you're like, at the end of the month, you're like, well, what'd you put away? And you're like, when I get money, you know, I'll talk to people that have been saying that for years.
[00:17:03] Paul: And I'm like, I'm like, you just start. And they're like, well, You know, what do you do? I'm like, I go just set up automations and do a dollar a day. And they're like, well that's not gonna make any difference. Likes make a more difference than your zero is. At least you're creating winning habits. Yes.
[00:17:17] Mickey: I love that.
[00:17:18] Mickey: You know, in fitness too, we'll hear people say like, well, if I, if I can't get a great workout, I'm not gonna work out at all. I'm only gonna go if I've got the hour and it's like, That doesn't work
[00:17:28] Paul: that way, . No. No. There's some days I'll, if I'm in a hurry, I'm like, I got, I'll sneak in a 15 minute workout.
[00:17:33] Paul: I'm like, I gotta do something or I'm gonna fall behind. You know? Same thing with your finances. You just have to do things. And the beautiful part is love 'em or hate 'em. Robinhood changed the game when everything shut down because I mean, they came in and they just. Took, I mean, you have these long-standing brokerages.
[00:17:46] Paul: I remember when I was a broker, people would call up on the phone, this is back, people use phones. They'd call up and they'd be like, Hey, I need to buy X YZ stock. I'm like, oh, okay. If I place the order, it's 60 bucks. If you do it online, it's 1495. And then Robin Hood came in and they're like, it's free. And then they got start getting everybody's money.
[00:18:00] Paul: So Fidelity, Schwab, Ameritrade like, all right, cool. We don't charge fees anymore either. So everything's getting so much better and so much more accessible. And that's one thing too, people are listening to, and I can't preach this to enough people, is don't be intimidated to walk into one of those places.
[00:18:11] Paul: Everybody's like, well, I. I need a hundred thousand dollars. I need a million dollars. I'm like, no, you need 500 bucks. It's like, don't be scared. Those guys in the branches and stuff like that, they want new people coming in there because then they can educate you, get you to be an investor, and then the money sticks around.
[00:18:23] Paul: Then your 500 becomes 10 grand, becomes a hundred grand, becomes a million dollars, and you're a customer for 20, 30 years. And then they make all their money on the back ends. They want to help you. But people are always like, oh, we don't, when I get money, I'm gonna walk in there and get some help. It's like, no, start learning now.
[00:18:36] Paul: Walk in there and you know, and if you ask a gazillion questions, yeah, they'll probably give you like a, a form and ask you to go to the website, but. You know, get past that uncomfortable
[00:18:43] Mickey: zone. Yes. I love that. I think any sentence that starts with when I make money, all is K is kind of a red flag. So anyone listening, if you hear yourself say that or think that immediately know that that's just not the way that it works,
[00:18:58] Paul: No, it never does. I always, I can find a way to spend the
[00:19:00] Mickey: money . It's so true. It's like time, right? However much time you give yourself is how long it'll take you to do a task. And I think money's the same way. However much money you think you need or will get. It's, you're limited, right? One question I have that's, I'm not sure how what you're gonna respond, so I'm really curious to know how you feel about getting financial advisors or if there is a better way to become educated and make smart investments with our money.
[00:19:24] Mickey: Yeah,
[00:19:25] Paul: I honestly like financial advisors. You know, it can be kind of tricky cuz like they can have very expensive feess. So I always tell people it's like you don't really need a. The stuff now is so good. I'll probably make some financial advisors mad, but the technology's so good, and the software's so good.
[00:19:38] Paul: You can go to a Fidelity or Schwab Ameritrade and they'll be, they'll have you fill out a form. Cause people always like, I don't know what to do. I'm like, well go in there. They'll have you fill out a form on your risk tolerance, what you're comfortable with, and these things will spit out a portfolio.
[00:19:48] Paul: It'll be like, well, you're moderate risk. You've got 37 years retirement. So here's our 70 30 portfolio with 10% international. People will probably listen to me like I'm speaking French right now, but don't worry, , start learning the terms. That's like a, a huge thing is just start learning. So, you know, go in there, they'll give you a portfolio and you're gonna be like, I don't know what this is, but then take it home, look at and, okay, US Growth, stock, Google, US growth stocks.
[00:20:10] Paul: You're like, oh wait, okay, that's, uh, you know, Coca-Cola and blah, blah, blah. Okay. You know, technology, you're, oh, that's Google, apple. I like Apple. Okay, cool. And then it's like international. And so you, you start to understand these things, but you can get so much help for free now that there really isn't a need for an advisor.
[00:20:25] Paul: Now granted, when you become like a high net worth person and you're just like, dude, I'm done, I'm gonna retire, then they have, like, they have really cool, they'll create income plans and help you, they'll manage the money and be like, Hey, you know, we're gonna invest this to get an 8% return. You're gonna withdraw 5%, you know, and this is how much you get every month.
[00:20:39] Paul: So that, at that situation, then it, it could be beneficial. With the technology and everything is so good now, it's like they do so much work for you for free. I mean, what, obviously the funds have fees and the ETFs have fees, but you don't see 'em and they're, they're so much smaller than they used to be.
[00:20:53] Paul: You know, it's
[00:20:54] Mickey: interesting cuz I was like, most people, I think I felt super insecure about money, about the terms I had. I really didn't have the lingo. And anytime I went to my bank or thought about investing, I immediately went into like cold sweats, , oh. It's like they're gonna
[00:21:07] Paul: think I'm stupid. Yeah. And no one does like, and that's the thing is we're all, we're, it's, we're all guilty of like these horrible, like we think, like I just did, uh, it was so funny.
[00:21:16] Paul: I was telling my one, some of my students, I just did my global entry thing in the US cuz like the world's opening back up. I'm like, oh, I'm a good global entry. And you had to list out all the places you've been. And I'm, you know, cause I do jujitsu and m a I go to some weird places and I'm like, you know, like, Brazil, Columbia, Thailand.
[00:21:28] Paul: I'm like, how this, this is kind of sketchy history, . So I looked in my head, I had all these things of like, oh my God, I'm so nervous there, and asked me all these questions and they literally asked me what the name of my business was and what I do. And then we talked about M M A and then they took my fingerprints and went on.
[00:21:40] Paul: I'm like, so I was stressed out for a week. And they asked me two questions that had nothing to do with my travel history. And one of my friends that worked for, uh, the government, he was like, dude, they already know anything about you already. It's like, you're, you're pre-approved or you're unapproved. I'm like, yeah, I know, but we worry about stuff that we don't need to worry about.
[00:21:54] Paul: Same with finances. It's just don't be intimidated. Go in there. They want to educate you. They'll send you to the right websites. All these websites have so much free education. It's so awesome.
[00:22:03] Mickey: Yeah. You know, one of the. Most, I wanna say powerful things that, that I did when I was first getting started was I literally just started Googling terms, like you said,
[00:22:10] Mickey: And I was like, I'm gonna cheat, cheat this. I'm gonna make a little workbook so I remember what all the acronyms and words mean, , so that when I ask questions, I at least sa sound somewhat smart. But I think it's, it's just a simple kind of step you can take as you start to uncover, okay, where am I feeling the most insecure?
[00:22:26] Mickey: And how can I make myself feel a little bit more empowered? Exactly. It's
[00:22:29] Paul: perfect. Yeah.
[00:22:30] Mickey: Um, I wanna get back to kind of more in a business. Set. Okay. Although passive income is super important and we all need to be putting that money aside and away on a regular basis, there are some places in our business where there are burning, flag burning, um, kind of fires that need to be dealt with before we can really just let our money work for us.
[00:22:50] Mickey: Um, and one of the challenges we have is, is. Converting clients. It's, it's getting prospects to actually buy. And I know that you have some insight onto ways, onto ways that we can make this more effective, and I'd love for you to share. This episode is brought to you by the Hustle, less Profit, more Club, the marketing solution for small businesses struggling to grow, learn how to ditch marketing that doesn't work, and creating no fluff, high powered marketing strategy that scales in the hustle, less profit.
[00:23:20] Mickey: This monthly business coaching program is designed for busy entrepreneurs and business owners who struggle to market their business. Inside you'll learn everything you need to set proper marketing goals, prioritize your efforts, and grow your business. Head over to hey Mickey anderson.com/club to learn more.
[00:23:39] Mickey: Now, back to the episode. Yeah.
[00:23:41] Paul: One thing I see a lot, and it's really unfortunate in like the service indu industry thing like that is you gotta collect email addresses, you've gotta collect phone numbers, you have to build a database. I talk to people all the time, they're like, well, you. I've got this many clients and I'm like, what's your, what's your, uh, prospect database?
[00:23:54] Paul: And they're like, uh, I got these forms people filled out once. I'm like, okay, you need a database. Because technology gives us, like, like we're talking with investing. Same thing with businesses. You, I can go into my crm, you know where all my clients are and I can see my current customers, prospective customers.
[00:24:07] Paul: I call 'em like cold leads of like, people are just like, we never did anything. And so like with my clients is we're always working leads. So like you're working the, the, the hot leads. that just filled out before on your website. Of course you're calling those, you're texting those. You're emailing those, and then after a while you're gonna get the percent that does something and you're get the percent that doesn't do anything.
[00:24:24] Paul: But you've gotta always be sending reactivation ones like the Dean Jackson nine word email one like, Hey, are you still interested in X, Y, Z? I mean, that's one of the biggest game changers ever. Send that to a cold lead list you'll get. A bunch of people will be like, oh yeah, I'm still interested. And then maybe 10% actually do something.
[00:24:37] Paul: But you always wanna react, activate your old leads. People like, whoa, they might opt out on my list if I have one. I'm like, oh, cool. Then they didn't want what you have. Don't not send offers cuz somebody might opt out. People are gonna opt, you could send them, Hey here's a link to a hundred dollars gift card and they're gonna opt out.
[00:24:49] Paul: Cuz people are just weird. But yeah, having a database, that's like the biggest thing, especially in service industries. I don't see, like, I have a really good friend who does AC. I bring that up again in Texas, but I'm like, I'm like, do you keep a database? He's like, no, I have the invoices and everything.
[00:25:00] Paul: I'm like, dude, just get something cheap. Just something basic. And you can put their name, email and some notes in there. And then like, you know, if business is slow, send out an email. Like, Hey, you know, we got, you know, 20% off, um, cleaning and. Preventions are, you know, uh, coolant adding, you know, if you have a restaurant, like I go, I go, drives me insane.
[00:25:18] Paul: I go to restaurants all the time. And you know, these lo the, the bigger ones are better than the mom and pops. The bigger ones will email you all the time, like Outback in the US like, Hey, y'all get a steak for 1399 with french fries today on a Wednesday. I'm like, oh, pretty good. I'm kind of hungry. Like mom and pop ones never email me.
[00:25:32] Paul: And I go to this one sushi restaurant and I'm like, do you guys ever do any marketing? Oh, we post on Facebook sometimes. And I'm like, you know, I mean, think about, it's like, what's your slowest day of the week? That's when your sushi special. You know, and email it out. But it's like people are like, ah, you know what's, that's for big companies.
[00:25:44] Paul: It's like, no, it's for everybody. And what
[00:25:45] Mickey: I love most about that approach is, you know, most of us when we're first starting our business, assume that like if I build it, they will come. ,
[00:25:52] Paul: I've been there, I did it. If
[00:25:53] Mickey: I have a great offer or great service, people will just know. Or like the people that I have will just always come back.
[00:25:58] Mickey: But it's not true. No, we are so distracted and, and I love that you take like a proactive approach. No, I'd love to ask them. . Let me ask. I'm gonna reach out. I'm gonna call them right away. I'm gonna do the thing because that's how you grow a.
[00:26:13] Paul: I love it. Yeah. And it's crazy. I tell in my industry the biggest line, oh, we're the best kept secret in town.
[00:26:18] Paul: I'm like, that sounds like you're broke. Mm-hmm. . It's like nobody wants to be the best kept secret in town. That's like the last thing I want to hear. I want to hear like, my favorite one is like, my wife used to get so annoyed. Now she's just used to it. We'll be at, go to dinner or we'll go to somewhere and like, Hey, what's up?
[00:26:31] Paul: You know, you're, you're the jiujitsu guy. I'm like, yep, that's me. I'm on, my face is on everything. It's like I'm on Instagram, Google, YouTube, Facebook, you name it, you gotta put up with my, if you live in my area, you gotta put up with my face and my gym and, but I'm known as the jujitsu guy, so it's like, Hey, yep, you wanna send your kids to do jujitsu?
[00:26:48] Paul: Your husband or your wife right over here. But everybody, people know me. You know, and so it's, it's, and you could become the AC girl. You could become the sushi guy. I mean, you could do so many cool things. It's like I go back to the old, you know, everybody's probably listening to Gary V if they're in entrepreneurship.
[00:27:02] Paul: I mean, he talks the most basic stuff, but just like get your name out there consistently all the time. Yes.
[00:27:07] Mickey: It's do the work. It's do the sit-ups. Nobody's gonna do your pushups for you. That's one of my favorite calls. .
[00:27:12] Paul: That's another good one.
[00:27:13] Mickey: Yes. Uh, okay, so we've got an entrepreneur. They're starting to put some money, take some money out of their business and put it.
[00:27:20] Mickey: you know that, that slow burn passive income. Yep. They're working hard, trying to convert more prospects. Is there anything else they can do in terms of their finances to start building like wealth over
[00:27:31] Paul: time? Yeah. There, so the, the biggest thing, and I tell people it all starts with, I call the. A velocity money machine because you know, money needs velocity.
[00:27:39] Paul: The more you create, the faster it goes, the more it spins and creates more power. So you're taking money, you're making money in the business, then you're creating cash flow, you're taking money out, you're doing that. And then what we look at is the next thing is like, okay, we're, how can we create more profitability in the business without destroying the business?
[00:27:54] Paul: Cuz people are like, oh, I'm gonna run all this big sale. I'm like, well you gotta be careful with that. So we'll do we call 'em cash? Um, like in our industry, so we'll be like, we'll have, uh, black Friday sale, you know, we'll have, uh, summertime Equipment sale, we'll have Christmas. We did what my, one of my we do is started doing, we copied Amazon because they had Black Friday and Christmas, you know, then they had prime days.
[00:28:15] Paul: We do Christmas in July. It's like, oh, let's just copy Amazon. They make more money than anybody on Earth. And, but what we do is we calculate it. So like, we'll be like, Hey, we're gonna have, like, we sell something always different that could increase profits. That's basically all profitable that we can. , you know, outta the business if we needed to or put some of that money back in business, some it out.
[00:28:31] Paul: And we look at like, okay, hey, if we do this, say we sell a two year membership, okay, let's make it a goal. We're only gonna sell five. So you're not like fake scarcity. It's like, cuz cash flow wise, I only wanna sell five cause I don't wanna take out more than five recurring memberships. And at the same time you run that sale to your current.
[00:28:45] Paul: Clients. And then you look at like, Hey, how do I get, now I gotta find five new clients to replace those five, so I don't take a hit in my monthly, uh, recurring revenue. And you run a promo of those people and you can look for different angles that compliment your business. So like I said, like like with the AC, you could find some kind of service agreement that you're selling or some kind of thing like that, or restaurants.
[00:29:04] Paul: There's always little ways to add things. And then from that you just keep increasing the amount of money you're taking outta the business and growing into other things. And then the big thing is, you know, people wanna get into real estate all the time. They wanna buy their own building. They. You know, they wanna do things like that.
[00:29:16] Paul: But I tell 'em, it's like, they was like, oh, when I, when I'm going back to it again, when I make money, I'm gonna buy my building. It's like, well why don't you start a building savings account and put money in there, you know, and like create assets. So when you go to the bank and the bank looks at your account and like, oh yeah, I see that you put, you know, you've got 40 grand in this account.
[00:29:31] Paul: Oh, that helps a lot. You've been with us for five years, they're gonna talk to you way better than if you've got no money and you've been at the bank for a few years and they're like, uh, you really don't make, you know you're not very good with money. Cause they can. What you're doing.
[00:29:42] Mickey: Yes. And you know, you said a word there that I wanna kind of dig into, which is asset.
[00:29:46] Mickey: Because I think a lot of us build our business and we think it's an asset , but it's really not .
[00:29:52] Paul: Yeah. It's, it can go away fast. . Yeah.
[00:29:55] Mickey: So when we're talking about creating financial security in our business and just in our lives, are there things we can do to make sure that we are actually buying assets and not things that are shiny objects that look like.
[00:30:06] Paul: That's the hardest thing too. Cause especially like people in the, in the gym world are like, man, I got this new treadmill and these new kettlebells and well, it's kind of an asset, but if you wanna go outta business, you're gonna get like a 20 cents on the dollar. So it's, I tell people like, those things are good and everything new mats at uh, m M A gym is good, but building real assets of like, okay, what do I want?
[00:30:23] Paul: Cause some people are scared to death of the stock market and they're like, I never wanna invest in the stock market. I'm like, I don't care. Don't invest in the stock market, but start looking at what assets do you. , do you want, do you wanna own a building? Do you want to have, um, do you want rental properties?
[00:30:35] Paul: Now the big thing is Airbnbs, everybody wants Airbnbs. So I'm like, all right, cool. You need money to buy an Airbnb. You need to have good credit to buy it. So make sure you have good credit. You're starting to put money in there and start looking for these assets. Cuz that's the hardest thing is like, you made a great example there.
[00:30:49] Paul: It's like we're entrepreneurs. Maybe we can sell it, maybe we can't. It's like you're not gonna get what it's worth unless it's like a really documented, very good service business. It's gonna be tough. But if you're building these assets along the way of like, oh yeah, I've got the business, but then I've got the three Airbnbs, and then I own my building, and then I've got a stock portfolio, and then I invested in so-and-so's yogurt shop and it's like, wow, you're, you're really doing well.
[00:31:10] Paul: So you. You can get to that point and then it goes right back to what we talked about earlier. You just gotta start . People are, are, it drives me like I'll keep ranting over and over again. Be like, it's not gonna happen when you make more money, . Unless, unless you make a gigantic windfall. And unfortunately all of us in the service industry, we're not gonna get this giant windfall of like, oh, hey, I sold my software for $3.8 million.
[00:31:32] Paul: Unless you do have software, then that's great for you, but it's pretty rare. Mm-hmm. , you know, You know, so, but look at what assets you want and how you can start acquiring them. And then make it a game where it's like you're doing it and you're like, oh yeah, this is great. You know, I'm, and to make it fun.
[00:31:45] Paul: Cause people are like, savings boring, savings sucks. I always tell people it's like, it's like, oh, my savings account. But it's like if you rename your savings account, like, you know, Tom's Airbnb or Tom's building is like, oh, I'm getting closer to buying that building. You know, and you talk to the bank like, Hey, how much do I need to get this building?
[00:32:00] Paul: Like, oh, you need, you know, 20% down, so you're gonna need like 40,000 or something. Like, okay, cool, now I got a number to work with. And they get excited and, and then you start building real assets, things that are, that you can like, touch and sell and move. .
[00:32:13] Mickey: You know what I love most about this is a lot of us have these like ambiguous goals.
[00:32:17] Mickey: Like I just wanna be rich. . Right. But it's so hard to even grasp how you would do it or what it would look like. Sometimes we have like we, we, I don't know. I always like visualize myself on M T v. Cribs. ,
[00:32:30] Paul: yeah, exactly.
[00:32:32] Mickey: But I think when you, when you set that goal of the thing you wanna buy and then build the account and actually start working towards that goal, it's like a, a real tangible, step-by-step process that you're going through.
[00:32:43] Mickey: So it's so much more rewarding.
[00:32:45] Paul: Oh yeah. And, and it's that it goes back to, you know, our subconscious and if anybody's read a lot of books or the reticular activation system, how your subconscious is always looking for things. But if you never plant that in your head, it's like when you get a new car and you like, you never saw the car before and you get it.
[00:32:59] Paul: No, it's all you see, you're like, . Everybody's got the same car I've got, but it, they've always been there. You just never recognize it. Cause your subconscious, I forget what the number is. It's like, see, it's like going through a gazillion different things all day long and we don't know it because it's just running on autopilot.
[00:33:11] Paul: But you start feeding at things and then you're like, well, I was looking at this building. And then now you start seeing buildings for sale and you're like, oh hey wait, that one might work. Oh, that one might work. Oh wait, wonder what they want for that one. Well, that one's a better deal. And you start seeing these things where before you were just, I'm just gonna get rich someday and I'm gonna have money.
[00:33:26] Paul: But putting things to it where your mind is like, how do I get there? How do I get to this thing?
[00:33:30] Mickey: Yes. You know, when I think about wealth or finances, it's usually not about me. It's about how can I secure my daughter and, you know, generational wealth . And when you talked about purchasing assets, that's exactly what I thought about.
[00:33:44] Mickey: I was like, what can I buy that I can, I can pass on? That's not just something that I get in cash, but something that's gonna have, you know, time, time. right. You talked about giving your kids an unfair advantage, and I kind of wanna know a little bit more about how we can, even if we didn't grow up in a household where we learned a ton about money or had that experience, if there's things we can do to help our kids, or maybe even our spouse or family members, , get
[00:34:10] Paul: on the same page a hundred percent with kids.
[00:34:12] Paul: Just start talking about money. Make money not. A taboo thing. Make it not an evil thing. Make it like, you know, talk about. Cause everybody's like, oh, you know, like if, if you see an article like Jeff Bezos or, or, uh, Elon Musk right now, he's always the hot topic, everything. But it's like, oh, Elon Musk is, and people are like, oh, he's a jerk billionaire.
[00:34:29] Paul: Or you could tell your talk to your kids like, oh, Elon Musk made all his money through PayPal and then he did this. And it's really cool because with money he's able to do these things. And then just talking to your kids just differently about money, like asking 'em about money. Like, Hey, what are you, what are your goals you wanna save up for?
[00:34:41] Paul: What are you saving up for? What are you trying to do? And then just give. The opportunity to just think differently. But for us as parents, it's like, I still do it. Sometimes my kids will be like, Hey, can I get this? And I wanna say, we can't afford. And I'm like, don't, can't say that. And I'm like, okay, well how can we af?
[00:34:55] Paul: And so I'll ask him now, and I've gotten better at, but I'm like, well, how can we afford it? You know, what, what? What are you gonna do? And my son will be like, well, I'm gonna, you know, do this, these chores and sell some old Xbox games, and then I'll sell these other shoes on eBay. Like, now we're talking. All right.
[00:35:09] Paul: And trying to, you know, to re, to reframe it. And then for people that are married, are dating, one of the best pieces of advice I can give anybody, I, I wish I could remember who gave it to me back in the past, but is go on money dates, like, and. And the people, like I have friends that are like, I can't believe you talk that much about money with your wife.
[00:35:24] Paul: And then a year later I'm like, and you're divorced, . It's like, cuz they don't, they wanna hide stuff, you know? And they're stressed out because they're hiding stuff from their wife. And I'm like, bro, talk to your wife. You know, like, like don't be like, they always wanna front like, oh, everything's fine honey, we can buy whatever.
[00:35:39] Paul: And I'm like, bro, you can't afford that. I know your situation. And they're like, and then they get stressed out and then they yell at their wife and then the wife gets mad at them and they're in these huge fights. And it's like when you're on date with your wife, when we first started it was goofy. All could be.
[00:35:50] Paul: Cause my wife didn't care about money, she didn't care about investing, finances, goals, none of that stuff. She just wanted to be a mom and raise kids and everything. I'm like, well, I'm like, that's great, but if something, I get hit by a bus tomorrow. You need to understand these things. So it took time and we go on dates and talk about stuff.
[00:36:03] Paul: Especially when you're poor, it's super easy. Cause you're like, Hey, we have nothing . It's like, you know, the original dates were like, well we've got nothing but we're putting money in a 401k. You know? And then it gets better and you start talking about things and. , you know, like, I'll give a good example.
[00:36:15] Paul: So we've done been doing it for years. I'll talk about like if I'm gonna buy some stocks or I wanna buy into some business, and then when the pandemic happened I was like, okay, my business isn't essential. We should buy like a subway franchise cuz those are essential and then we could, you know, blah blah blah.
[00:36:27] Paul: Then she goes, and then what happens when somebody calls in sick and you gotta go make sandwiches? I was like, yeah, I don't like this idea. Good job. Thank you for saving me that , because I was gonna invest, you know, I would invest a hundred hours researching it. Like, oh yeah, how do, to get the best sub, sub Who, what's the best sandwich franchise?
[00:36:41] Paul: And was like, really? My wife, one sentence. And I was like, yeah, I'm out. I'm out. Thank you. You saved me. But we talk about everything now and it's like, we'll talk about money. And I'll be like, Hey, I'm thinking about doing this. And she's like, well, you know, that's a little bit riskier. And I'm like, oh yeah.
[00:36:52] Paul: Like with crypto, I'd be like, oh, I put money into crypto, but never more than I could lose. And if we lose it, it's like, well that was fun. You. But it's entertaining cause you don't wanna miss out cuz all the fomo mm-hmm. . So, but you get these guys that literally were like, I didn't tell my wife, but I took out a cash advance on my credit card and I bought Bitcoin at 65,000 and now they haven't explained to their wife that, hey, I lost, uh, 78% of our money
[00:37:13] Paul: So it's like just having open discussions and talking about money, it takes a lot of pressure off and then you feel better and then you're. The relationship with your, your spouse and your kids, and you're talking about money. You're talking about all the things that rich people talk about. And then, um, my hope, like I tell my wife, like all my dream is just my kids to be better than me.
[00:37:29] Paul: It's like I want them to be more successful. I know I've. You talk to some people and they're just like, the parents are like, almost hold the kids back. And it's like, well, what are you doing? It's like, well, I was never that great. It's like, who cares? It's not your job. Make them better. I want my kids to be like, I want my dad or my son to be like, oh, hey dad, I got your new Porsche outside.
[00:37:45] Paul: I'm like, cool. What color is it? It's like that's, that's, that's the dream is to have these kids that become so successful by understanding. Like you said earlier, the abundance. It's out there. I mean, the secret. Yeah. You can't sit there and be like, oh, come to me. Money , but twiddle your thumbs. Think about it.
[00:38:01] Paul: Yeah. Think about it and go after it. And it's out there. I mean, there's just, it's insane. It's, there's just so much out there for everybody. ,
[00:38:08] Mickey: you had like the best line and I wanna make sure that I repeat it because I think it's, it's like for me, it's the biggest takeaway from today and it was anytime you want to say like, I can't, or I can't afford this, or we can't do this.
[00:38:20] Mickey: Yep. Reframe it into a question, how can I afford this? Yep, and go at it with curiosity. And that just completely blew my mind now because , I have those moments where I'll think, no, I can't do that. And instead of going right, instead of going, how can I do that? And having a completely different perspective, I'm just shutting myself down from even
[00:38:37] Paul: thinking about it.
[00:38:38] Paul: And that's the best part about being an entrepreneur if you're listening to this, is you're an entrepreneur, you think differently than a regular employee. Regular employee's, like, how do I get the most amount of money for the least amount of work? and squeeze as much as I can out of this hour, but entrepreneurs, but by saying like, we can't afford it.
[00:38:52] Paul: Or like if somebody comes in and you're like, Hey, you need to run these, this new ads, whatever, like, oh, I can't afford that. So you'd mind just shuts off completely. But if you reframe it, well, how can I afford it? Well, if I did this and I could do that, and if the ROI on the ad campaign does get us. Leads and customers, then we're gonna make more money.
[00:39:07] Paul: Or you know, but how can I afford it just opens up your mind, it gets you thinking, and that's where we're all, as entrepreneurs. That's one of our advantages is we're have to think through problems, but if we just shut it down completely, then we just go, okay, move on to the next thing. Yes.
[00:39:20] Mickey: Oh, I love that
[00:39:22] Mickey: I love it. Um, now I wanna chat a little bit about mindset, because I think really the underlying theme of this episode is, is money mindset. It's changing your perspective. Um, do you have any other tips for entrepreneurs on how they can shift their mindset and really kind of tap into that a abundant mindset?
[00:39:39] Paul: One thing, like listen to podcasts like this, like I listen to a lot of podcasts, , like almost too many podcasts and audio books. I'm like, I don't have enough time to listen to all these, but I find a way because as an entrepreneur you need that. You need to hear about and biographies, oh my god.
[00:39:52] Paul: Biographies are like so great because it's like you hear about like the, the, uh, shoe dog. Like, I never, like, I'm a Nike fan, I never understood the story. I listened to Shoe Dog and I'm like, wow, he has way, he had way bigger problems than I ever had in my life. A bigger problems equal, bigger money, you know?
[00:40:09] Paul: And then if you want to go to that route, or if you're a small service provider and you're like, I don't wanna deal with that, I just wanna have my thing looking for, um, Different things. Uh, like a really good book that just came out. And a good audio book is The Power of One More by Ed Mylet. It's just amazing.
[00:40:22] Paul: It's just so motivational and mindset. Um, I love, uh, the Compound Effect by Darren Hardy. It's a little bit older book, but everybody should read that book. I read, I make a point to read it at least once a year. It's one of my favorite books. It's super simple, super easy, but you, you read it and you're like, Oh my God.
[00:40:37] Paul: Yeah, I gotta do that. I gotta think that way. Atomic habits, uh, James Clear, just like little things add up and compound and help you to win, but just find positive things. And another thing too is find positive people to hang out with. Like, if you've got that one friend where you're just like, oh God, it's like, maybe it's time to, you know, don't cut 'em off, but dis distance 'em a little bit.
[00:40:57] Paul: You know, it's like, and look for those guys that are motivational and it's. in every industry, you're gonna find things, and I'm not telling you like to go join a group or anything, but you'll find groups in your industry of people, like they have a mastermind or they have something and you're like, you know, look, follow the people on Instagram.
[00:41:11] Paul: Stalk 'em a little bit. Like, oh, this guy, he, he's pretty cool. I'm gonna follow this one. So I follow, like my Instagram is like my, my hub of like my motivation too. Cause I find the people that I'm like, I wanna be like him, him, him, him and her. . Okay, cool. So I follow them. I watch their stories. It's like I try to understand what they're thinking, why they're doing the things they're doing, and then you just can't help but be happier.
[00:41:28] Paul: It's like, I love for social media, I love Instagram versus like Facebook and all that, like just blah. But Instagram's just a happy place. You know, with stories you see behind the scenes of people that are doing like real things. You know? Obviously you have your fake people and your influencers, but I like to follow people that are doing.
[00:41:43] Paul: Real things that motivate me and I'm like, man, I can do so much more. I'm 47, you know, whole fact. I live to be 147 and do really cool stuff, but who knows? But it's just finding. Thing to fire you up is such a huge advantage. Mm-hmm. ,
[00:41:57] Mickey: you know, I, I heard something. I was a competitive swimmer back in like another lifetime it feels like.
[00:42:02] Mickey: And that's a tough sport. . Oh man. Not quite mma. I'm not getting punched in the face, but sometimes
[00:42:07] Paul: you like it. The best part about swimming though is you could eat every, almost swimmers I know is like they eat like, 15,000 calories a day and they can't cuz it's, it's insane. It's so you eat a lot of food.
[00:42:15] Paul: Yes. . It's like, it's the program if you want to eat a
[00:42:18] Mickey: lot, . It's true. It's true. If you love carbs, then become a swimmer. Let me tell
[00:42:22] Paul: you. Oh yeah. Yes. It's crazy. .
[00:42:24] Mickey: Uh, one of the pieces of my advice I got when I was, so I was, I got a full ride scholarship to Marshall University, but I was choosing schools mm-hmm.
[00:42:31] Mickey: where I wanted to go. And I remember one of the, the piece of advice people gave me that I didn't take at the time was don't be a big fish in a small pond because you'll never have anyone to. And like success happens through osmosis, the people you're around, you are going to level up to their level. And if you're the top, you're gonna.
[00:42:49] Mickey: And of course at the time I was an ego-driven kid and was like, no, I wanna be the best. So I picked a smaller school. But looking back I can so see how those times where I was the worst person in the group or at the bottom level and how much that helped me lift up to the next level and you know, raise to the level of which the people around me were at.
[00:43:06] Mickey: And I love that approach when it comes to your finances and. Well,
[00:43:10] Paul: thank you. Yeah, it's, it's, you have to have that, it's like we're all competitive too. We're entrepreneurs, so it's like leveling up and finding people. Cuz if you just live in your small bubble, like I grew up in a small town and, and I probably would've been just like every other person doing smaller, but thing smaller things like that.
[00:43:24] Paul: But then I moved to a. Humongous city where I was just a nobody. No. And it was like, I just would find people and like, okay, that looks cool. This guy's successful. How did he and I, that's been one of my biggest, I call it like a cheat code to success. I just find people that are, do what I wanna do and then I just really nice to 'em and ask him questions and don't annoy 'em.
[00:43:40] Paul: And then people are super generous. They'll help you out. They'll give you tips. It's like even like I'll talk to people that are way outta my, uh, financial league on Instagram and they're super cool because I'm. Hey, can I pick your brain for five minutes? I'm always like, oh dude, that's so awesome. Hey, you know, I'm like sending 'em, like they'll post something.
[00:43:55] Paul: I'm like, oh, congratulations. And then if I do ask a question, they answer it cuz they're like, oh yeah, hey, this guy's not a total pain in my butt. He actually supports what I do, or I share their posts. Things like that. Just do the things for other people that you'd want people to do for you and you can make some crazy good connections for free.
[00:44:08] Paul: Yes.
[00:44:09] Mickey: Oh, I love that, that if people listened this advice, it. Incredible. I a hundred percent agree. I think, uh, just by being like a genuine human , you can make such powerful relationships. Like that's it. It's, it's really simple.
[00:44:22] Paul: Yeah. Cuz at the end of the day, we're all just people. Yeah.
[00:44:25] Mickey: Yeah. so true. Paul, is there anything else you wanna chat about or any topics we didn't get to dig into that you wanna chat about?
[00:44:30] Mickey: I, we,
[00:44:31] Paul: we kind of crushed it today. It felt good. , we covered a lot. Yeah, we did. We
[00:44:35] Mickey: went through.
[00:44:37] Paul: Yeah, people have listened to this one twice cause it's like there's a lot of good stuff in there. You had some really good questions and, and we went down some really good paths. You know, cuz, you know, mindset. It all starts with mindset, you know, is you have to, it's the life is, life can be hard, life can be painful.
[00:44:50] Paul: Or we can be like, Hey, you know what, this is the learning experience and it's how we take it. And you know, just staying positive, looking for the things that you can do, the opportunities and looking for the areas you can improve. And then just, just keep getting better and, . Life is so much fun when we do it that way, especially after the last couple years.
[00:45:05] Paul: We're like just looking for positive and I look for positive in everything anymore. I'm just like, I don't ever wanna go through that again. ?
[00:45:11] Mickey: Yeah, there's a great quote I have up on my wall and it's perpetual Optimism is a force multiplier, and I think it was Colin Powell who said it, but. . I, I'm, I'm not a hundred percent sure, but it's so true.
[00:45:21] Mickey: Right? Just that optimistic perception in life. It just absolutely makes
[00:45:25] Paul: everything better. No, a hundred percent. Yeah. Cuz you got, everybody's got those pessimist friends where you're just like, how do you function? It's like, what do you, do? You enjoy anything ?
[00:45:34] Mickey: I feel like we all have one of those, we all have immediately was like, yes,
[00:45:37] Paul: I know that person.
[00:45:38] Paul: Everybody's like, yep. But then, you know, there still can be your friend, but you just gotta distance 'em from your day to day, cuz. Take the, be like, oh, did you hear about so-and-so did blah, blah? And I'm like, oh my God. Here we go. . It's like turning off . Oh yeah. I, I like, I wanna, I wanna talk about money, I wanna talk about deals, I wanna talk about marketing, I wanna talk about sales.
[00:45:56] Paul: It's like, I wanna talk about like the future. I wanna talk about, you know, when I try to find people that are like that and then it becomes contagious. Then you, you have friends where you're always talking about different really cool stuff and it's, it becomes fun. Mm-hmm. , you feel the energy, right? Yeah.
[00:46:07] Paul: Yeah. The energy fires you up. Like, I'm fired up after this, so I'm just talking. Amazing. Getting. Yeah, .
[00:46:13] Mickey: Um, alright, so for anyone who's looking to learn more about you, maybe snag one of your two books, the Money Fight and How to Make Money with Your Martial Arts Gym, where can they find you
[00:46:21] Paul: online? Uh, website is uh, www.paulhalme.com.
[00:46:26] Paul: And then, like I said, Instagram's my favorite. Uh, instagram.com/pul. H a l m e. There's another Paul homie who's like a really old lawyer in California, so just like, which I'm like, that's the rarest name on earth. And we both have the same first name. I'm like, there's not many homies left in the world. And I'm like, how did this happen?
[00:46:41] Paul: Oh, but yeah, so mine's with the period on there. There are some fake accounts too out there, so don't, I do not have backup accounts. I'll never believe anything like that. It's so crazy when we talk about money and finance, those scammers. take over, try to take over and c clone your accounts and stuff.
[00:46:54] Paul: It's to, that's the one thing I don't like about Instagram right now. They do do a better job of, of getting rid of those. But, but yeah, I love Instagram. You know, I'm always doing stories. Hopefully as the world opens up, I'm doing more traveling. Pre 2000, I was traveling a ton and, you know, giving out travel hacks and money advice and tips, I dunno.
[00:47:10] Paul: Sorry, never money advice, money tips, there, there you go. I can't say advice, money tips, things I'm doing because, . One of the things I think is like, I wanna be an example, like some people are like, oh, you share a lot on, yeah. Cause I wanna be an example. It's like people motivated me to do what I'm doing and they're still motivating me, so I wanna motivate people to do better than me or do what I've done.
[00:47:28] Paul: Cause people just don't think they can do it. And then they're like, oh hey, we can do all these things. And it's just fun. Yeah. Like
[00:47:33] Mickey: information is free I find. And it's like less than 1% of people are actually gonna do it. . Oh yeah. It's crazy. And so there's no harm in.
[00:47:41] Paul: That's it. No. Yeah. Yeah. Just, yeah.
[00:47:43] Paul: It's, it's, and the, and the world's such a big place, you know? It's, it's
[00:47:46] Mickey: fun. Mm-hmm. amazing. Well, thank you so much. I learned a ton. I'm super excited and I'm sure the audience listening right now or watching, uh, is really pumped to start putting away that little bit of money at a time. Let that slow burn happen with their passive income while taking control of their finances and learning more.
[00:48:03] Mickey: Exactly. Just get started, now, today, right now, if we haven't. Do it . Amazing. Well, thank you so much, . Awesome. That was so much fun.
[00:48:22] Mickey: Thank you for joining me in another episode of the Hustle Est Profit More podcast. Thanks to our season one sponsor, ster Pursuit Marketing and Communications. You can find show notes and resources at hustles profit more podcast.com. If you enjoyed the. Don't forget to rate and review us where you get your podcasts.
[00:48:40] Mickey: Join us again next time to uncover more of the keys to achieving success, wealth, fulfillment, and freedom. Thanks for listening.
