BCS 275 – The Importance of Timing and Planning in Business and Investing

Business Coaching Secrets with Karl Bryan

In our latest episode, Karl Bryan and Rode Dog dive deep into crucial insights for business coaches, entrepreneurs, and investors alike. This episode is packed with actionable advice, from market valuations to emotional intelligence.

Three Key Takeaways:

Intelligent Decision-Making in Investments:

Karl Bryan emphasizes the importance of knowing your current position (the “little red arrow”) and having a clearly defined destination. Assess the timing and make intelligent, risk-aware decisions.

Cherish Life and Health:

Reflecting on personal loss, Karl underscores the importance of cherishing life’s fleeting moments. Prioritize your health and relationships, and remember that true wealth lies in life’s simple pleasures.

Presence in Business and Life:

Karl discusses the immense value of being present, both in business interactions and personal life. Emotional regulation and mindfulness can significantly impact your success and overall well-being.

Tune in to hear more about Karl’s journey, key entrepreneurial lessons, and practical strategies for achieving business growth. Plus, Karl shares a unique job experience from his backpacking days that shaped his public speaking skills!

Karl Bryan helps business coaches get clients. Period.

For more magic on how you can grow a coaching business by attracting small business owners, filling local live events, and closing more high-end coaching clients… go to focused.com

For a free subscription to my magazine, The Six-Figure Coach go to thesixfigurecoach.com/get-it

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Episode 275 Transcription

Intro [00:00:00]:
Welcome to another episode of Business Coaching Secrets, where we decode the art and science of building a thriving coaching business. Let’s uncover what’s in store today with none other than your boy, the Rode dog, and of course, the legend himself, Karl Bryan. Shoots.

Karl Bryan [00:00:20]:
Shoots. New intro. I like, man. You probably practice with that, man.

Rode Dog [00:00:25]:
Good job, buddy. I’ve got a. I’d say I have a face made for radio, but we know we’re talking about you. Actually, you know what? I take that back. I take it back. Shoots with those Chiclets. You’re a pretty handsome fella.

Karl Bryan [00:00:40]:
Short sideways nose. Don’t pretend like the sideways nose is incredibly sexy. Come on.

Rode Dog [00:00:45]:
This is what filters are for, bud. That’s how it works. That’s how it works. Anyways, what’s going on? What’s going on in the life of Dr. Karl Bryan treating all of his patients one at a time? What’s going on there?

Karl Bryan [00:00:59]:
Not a doctor, buddy. Working hard, man. Got lots of cool stuff going on. Playing with a. Playing with an acquisition that. Who knows what might happen? But doing lots, man. Keeping busy, you know, just doing what we do, bud. Doing what we do.

Karl Bryan [00:01:13]:
Got a new master class that I’ve been working on that, frankly, is going real good. It’s real funny, you know, you do a presentation, and, like, the way you got. If you’re thinking about doing a presentation, the way you got to do it is you got to do the damn presentation, and then immediately afterwards, iterate. You know what I mean? Adjust on the fly. Adjust on the fly. You know, action brings momentum. So anyway, it’s kind of cool, but working on that, man, it’s going real good playing with it. We’re good, bud.

Rode Dog [00:01:39]:
So you just. You just tease out acquisition in there. Hey, what are you, Alex Hermos? You all of a sudden acquisition dot com? What’s going on here, bud?

Karl Bryan [00:01:45]:
Yeah, actually, it’s. You know what? No comment. Shoots. Let’s keep going.

Rode Dog [00:01:51]:
All right, folks, there you have it. Big things happening@focus.com. and if you haven’t yet, subscribe today. All right? Boy, I’m getting bad at the shameless plugs. Hey. Horrible, horrible, horrible. Anywho, let’s dive right in. The first question I have for you, it’s funny because this one pops up every once in a while because, yeah, I don’t know, people just like to hate on colleges, I guess, but because again, young folks, right, like, coaches tend to mentor young people.

Rode Dog [00:02:25]:
And I guess one of the questions that we typically get is like, oh, shoot, do you. How much do you Rely on a mentor or should I just, should I go to college? Like, how many times you’ve been asked that, should I go to college, Karl? Like when you’re mentoring younger people, they’re asking you that, I’m sure. How do you respond to that these days?

Karl Bryan [00:02:42]:
Shoot straight out of the gates, not only opening, but you’re hitting me with the heart stuff.

Rode Dog [00:02:46]:
I’m not coming out weak today, boy. So let’s go.

Karl Bryan [00:02:49]:
Let’s jump right in. Okay. Should you go to college? Gosh, loaded question on steroids. Some love it, some hate it, some agree, some will disagree. But I, look, start with should you go to college? Look, I’d start. It’s the wrong question. My opinion, why do you want to go to college?

Karl Bryan [00:03:08]:
Right?

Karl Bryan [00:03:09]:
Not where, not what should you take. Why college? You know, should I start a company? Well, why do you want to start a company? Should you become a business coach? Well, why do you want to become a business coach? One of the things I’ve talked about for years and years, like, should I get a coaching certification? Certification? How do I do their shoots? You know, it’s look, the answer, why do you want a coaching certification? Get, I mean, like, that’s going to give you the confidence and you feel like it’s the right one and there’s, you know, reasons behind it. I think you should fill your boots. But if someone were to ask me and you didn’t feel like you really needed it, do you need it to become a, you know, kick butt coach? What you need are 10 clients and, you know, it’s like what I said, you got to get started. Let them, let the action lead to the momentum.

Karl Bryan [00:03:53]:
Right.

Karl Bryan [00:03:54]:
So. So not everybody needs to go to college to get a degree. You know, don’t fall into the trap of feeling pressure from, you know, I think dependent upon age. But there would be the teachers, there’d be the parents, there’d be the family, there’d be the, you know, people closest to you. Less than 50% left. Less than 50% of the people that go to college. And again, I don’t know, those stats accurate.

Karl Bryan [00:04:15]:
Right.

Karl Bryan [00:04:16]:
I’m kind of pulling that out. But it’s accurate. Accurate. Ish. 50% don’t get out, don’t graduate.

Karl Bryan [00:04:22]:
Right.

Karl Bryan [00:04:23]:
So I don’t know, I think. Right. You got to ask the right question. The right question. Criticism of college is not a criticism of learning and advancing your knowledge. Be very, very clear with that, especially for our young folk. You know, start with what do you want? What do you want to learn? Like, like, if you wanted to go into business like research the best 10 books for the skill that you desire.

Karl Bryan [00:04:48]:
Right?

Karl Bryan [00:04:48]:
Research the best 10 people in the industry for you to follow. Like you mentioned Hormosi a minute ago. Like again, Hormozi, truthfully, this guy is, you know, he is next level at educating, you know, spend his, his demographic tends to be, I don’t know about the young folks, but if you’re 25, I think you’d absolutely eat him up. And he just, he provides some unbelievable guidance, you know. So again, find the best people. Find, you know, on YouTube, find the channels and the interviews with, you know what I mean? These, these same individuals that you’re reading the books and then go to their interviews and then go to their own podcast, their own YouTube channel and study. So study the top 10 in the industry, not the influencers on Facebook.

Karl Bryan [00:05:31]:
Right?

Karl Bryan [00:05:31]:
Please, my heavens, not tick tock. For goodness sakes. Right? The, the 30 second clip. I just don’t know that it’s going to provide. It’s going to provide more questions and answers in, in many, many cases, right? No doubt there’s some value to be had in different ways. God bless you. Go for it. I remember, look, my dad, let’s see my own experience.

Karl Bryan [00:05:50]:
Look, my dad, he basically said, dad, I’m going to college. You know, my dad was a professional gambler and entrepreneur on Steriods. I mean, his business and gambling, lots of math. My dad’s like almost has a genius iq, right? He’s very, very good at math. I do not share his iq, unfortunately. But I can tell you that, you know, he, he just said, look, you’re going, you’re paying for it, first of all, right? Because I think in his head at the time, I didn’t take it that way. But he’s like, if he pays for it, if I pay for it, I’m going to take it ten times more seriously. If I then, then if he paid for it, it’d be more valuable if I did, right? Obvious reasons.

Karl Bryan [00:06:26]:
One of the things he said, like don’t, you know, wording Long, long time ago. But it’s like what I don’t want you to do is I want. You don’t want you get a college because you feel like somebody needs to sign a piece of paper on your behalf. Translation degree, right? The reason he said that I should go to college, and I do remember this very, very well, is he said go to it to make sure that you know that the people that go to college and the people that graduate aren’t any smarter than You. And frankly, that’s one of the reasons I grew up in a small town of 5,000 people. One of the reasons he said he had to get me out of that small town. And you can imagine that I had a lot of pushback because I was like, I had my buds and, you know, I was having a great time. And he said, look, I got to get you into the city so that you realize that these people aren’t, you know, better or smarter, what not than you.

Karl Bryan [00:07:15]:
Right. That was kind of his. His logic behind it. But yeah, he basically just said, look, once you get out of college, what you want out of it, it would be time to leave. And that, in his opinion, was not a signature. But. But if what I felt like I needed was a degree, is a certificate, is the diploma, well, then keep going, you know. And he did say, make sure you party and you meet lots of girls and that sort of thing, because he said, again, that’s.

Karl Bryan [00:07:39]:
That’s part of the experience. And frankly, I think that’s why he wanted me to pay for it versus him, because he didn’t think paying, you know, for me to go and party was on his bucket list. And by the way, when I did do. When I did go, possibly not coincidentally, I did 10 times better than I ever did in high school, you know. And why? Because I was studying business, I was studying advertising, I was studying marketing, I was taking accounting classes. And these things were things that I was interested in because I always wanted to be a business owner. Like, that was always. I had already been.

Karl Bryan [00:08:11]:
I started my first business, and I was like 14 years old, washing windows, mowing lawns. You know, many of us, I had a couple buddies that would work for me and, you know, so anyway, so I. I had already get going, but at the end of the day, I wanted to become a businessman. And that was, you know, my. My. The direction of my. I knew which. Which direction to put my sale because I knew where I was going, right? And then coincidentally, so I’m going to college.

Karl Bryan [00:08:35]:
And I ended up starting a marketing company targeting students at the college. So basically, my marketing professor, him and I were pretty close, and we’ve had some meetings and whatnot. You know, he liked me. I like him. A good guy. And he ran the school newspaper. And he, hey, you should come into the newspaper. My parents had a newspaper growing up.

Karl Bryan [00:08:52]:
And he said, you should sell some advertising for us. And I was like, yeah, okay, I’ll do that. One of the things that happened is, like, everybody answered the phone when you called from the college, everybody would take the call. So, translation. Okay, that told me something. So I ended up starting a marketing company, made fistful some money, quite frankly, went to the. From broke college student trying, you know, with a student loan, et cetera, to, you know, buying beers on the weekend for all my buds. And then I traveled western Canada doing the same for other colleges.

Karl Bryan [00:09:23]:
And it was a great, unbelievable learning experience. There is no doubt when I look back and some success that I have had, I look back at those times and say, you know, pretty interesting. And not. That’s not the path that most are going to follow. That’s not the kind of advice, frankly, that most dads are going to be giving out. Again, I was very lucky to have a great mentor and my father. But I just think what’s important is you’re thinking about. You’re thinking about going to college or the kid that you’re mentoring or the gal that you’re mentoring, or the young individual, the young, aspiring, successful individual.

Karl Bryan [00:09:56]:
I just think, you know, then should you start a company? The question is, why should you go to college? The question is, why should you get the certification? The question is, why should you follow through all, you know and get the degree? The question is, why? You know, because again, if you want to become a lawyer, the rules are different. If you want to become a doctor, the rules are different. You want to become a dentist, but you want to become an entrepreneur. I don’t need know that you need the signature. And quite frankly, the right personality type to become uber successful at business is normally the person that just does not need the signature. So little red arrow you are. Here is what I’m explaining there. Shoots.

Karl Bryan [00:10:30]:
Hope that answer helps. But that’s. That’s my answer, and it’s a convoluted one, because they’ll say that most of the people that make, you know, the $300,000 a year and let’s call that a high wage, they tend to have degrees from prominent universities. So different strokes for different folks, man. That’s my answer.

Rode Dog [00:10:49]:
Did you just say 300 grand? Let’s call that a high wage. What are you, Justin Trudeau? Out of touch with what real wages are? Shoots. What’s going on here, bud? All right, by the way, I’m gonna leave that one alone. As much as I’d love to go down that path, I love it whenever I hear you say, or anyone say, I just want to be a businessman. This reminds me of Jay Z, right? I’m not a businessman. I’m a business man. Yeah, love that, hey, quick aside before I get to the next one. And this might actually.

Rode Dog [00:11:20]:
This might pivot. Well, hard to say. Hard to say. You talked about you selling ads for a newspaper. What would you say was one of the. Because all I’ve ever known you as is this guy, right? Guru, legend. What else can I do to stroke.

Karl Bryan [00:11:44]:
Nobody’s used to this. Our listeners are going to be wondering what’s going wrong here.

Rode Dog [00:11:48]:
All the accolades on the business side just because he’s short and ugly. It’s all good. Okay, now that I got back to level playing field here, what would you say was the best job you ever had prior to all of this? That sort of gave you some of the best education, if you will?

Karl Bryan [00:12:03]:
No, buddy, this is easy, okay? I’ve told you the story. But this is. So I was traveling around Australia. It’s like a backpacker, right? And I got this job. So I walked by that was, you know, I was running out of money to do, to do. You know, I could have called my old man and yeah, he would have sent me a little bit of money, but I would have felt like that was failure, right? So I was like, ain’t doing that. And I walked by this whiteboard and our blackboard. Sorry.

Karl Bryan [00:12:29]:
Right. And it had been raining, so you couldn’t quite read it. And it said entertainment’s manager needed. And I was like, interesting. So I go put my backpack away to do, to do, to do. Get my room. I go into the office and I’m like, so what’s the, you know, entertainments manager needed? Like, is that a current thing? It looked like it was a little bit washed off. And they’re like, oh, yeah, we’re looking for somebody.

Karl Bryan [00:12:48]:
And I’m like, what’s that entail? And amongst many things. But, you know, taking people horseback riding and up on a. On a boat where we. We went cliff jumping and, you know, I was a little bit nervous and I’m jumping off this cliff. I’ve got absolutely no idea. And I’m looking back and I’m like, oh, here we go, right? And the guy leading the tour can’t exactly be scared to jump off the cliff. Anyway, so it was. It was rather.

Karl Bryan [00:13:09]:
It was pretty crazy. I take people on koala walks. But what I really did, my job, basically, in the interview, the guy, basically, he says, my job, people book here for three days and your job is to keep them for a week, okay? And the way you do that, you know, you fill them with beer, you show them a good time. So we do, you know, three on three. We would do soccer tournaments and volleyball, beach volleyball tournaments and all kinds of cool stuff. My job was to keep everybody entertained. And a big part of that was, let’s say at 5 o’clock when everybody’s about to, you know, sitting down, having a couple beers, about to have dinner, I would have to entertain everybody and do, you know, do games and that sort of stuff. So I was standing up in front of the crowd and basically, you know, getting people to put their hand up to, you know, play the game, come up and participate and do all kinds of stuff.

Karl Bryan [00:14:02]:
And it just, it taught me public speaking. And this is not, you know, for the famous of heart, I mean this is, you know, you, this is a hard crowd. I’ll give you the red hot tip, right. And, and one of the things, so this is an important part of it, I guess, because like you’re backpacking and without knowing Karl, no doubt, you probably get an idea. I’m 21 years old and not surprisingly, my goal is to meet a girl.

Karl Bryan [00:14:24]:
Right?

Karl Bryan [00:14:24]:
So that’s, you’re, you’re backpacking, you’re, you’re on a bus and you’re going from stop to stop to stop to stop and you’re trying to be girls, right? Which I was, you know, was I successful? Not really.

Karl Bryan [00:14:34]:
Right.

Karl Bryan [00:14:35]:
Every once in a while I might get lucky and have somebody was interested in me, but generally speaking it was not exactly successful. Right. But then I got the job as entertainment manager and I was at the front of the room and I was controlling the room and I was giving away free beer and getting people to, you know, to skull beer and you know, picking who was going to be chosen and you know, who would go on different teams for beach volleyball and who would be broken up in the teams for soccer, etc, and all of a sudden I gotta tell you that finding myself a date became ridiculously simple. Right. Like I never experienced before. Okay, translation. When I went into business coaching, I saw a guy do a presentation and I knew immediately, immediately what I needed to do was I had to get to the front of the room because business coaches were running around and business consultants were running around the city trying to get clients and going to networking functions and delivering their elevator pitches. And I knew with 100% certainty that if I got up in front of that room and I did a heck of a show and I entertained them and I told some jokes and I made them laugh and I educate them at a high level and I gave great examples and great step by step instruction that the Clients were going to be.

Karl Bryan [00:15:49]:
Not only. They were going to be reaching out to me, you know what I mean? And I was going to be able to charge more, have more compliance, have more authority over my clients in a good way. Not that I was looking for yes men and yes women, but they would be more compliant. And so basically without going. And I could go on and on, but I was living on an island in Australia called Magnetic island, and it was bloody fun. And that job right there was a needle mover where I learned the power of being the person at the front of the room. So there you go.

Rode Dog [00:16:21]:
I’m glad you pivoted into somewhat of a business. I’m like, this is all about meeting girls. It’s so good. So, folks, if you’re a business coach and you’re single, live events, this is.

Karl Bryan [00:16:31]:
Yes, yes. I tell you, Glennis Gasman, if she’s. She’s listening. I told her that, you know, she went through a bit of a rough patch to do. To do, to do. She’s been a client for, I believe, over like a long time, probably 10 years, probably listening. And I’ll tell you, she. I said, Glennis, a little bit of an aside.

Karl Bryan [00:16:49]:
When you start running these events, let me tell you, you are going to have some interest from the opposite sex with 100% certainty. And from our conversations and what you’re saying here, I think that’s going to be a good thing. So get ready and do it. Next thing you know, she came to business coaching mastery in Cancun on what? And that would be called her honeymoon. So there you go. So shout out to Glenyson Alex. So there you go. True story.

Rode Dog [00:17:14]:
Oh, my gosh. Okay. Well, there you go, bud. There you go. Okay. And by the way, this, it makes so much sense. Like, if anyone’s ever been to Karl’s house when he’s having a bit of a shindig and having people over. Yes, times a million.

Karl Bryan [00:17:30]:
I came by entertainment manager. Honestly, I can. I had so much fun. Anyway, forget. Let’s. Let’s keep going. Shoots. It was fun.

Rode Dog [00:17:38]:
Well, let’s. You know what? Actually not. Not a horrible pivot. I wasn’t sure how serious you’re going to get, but you kind of. You laid it low. So let’s go to the weekly Zen thought. What’s the Zen thought of the week.

Karl Bryan [00:17:49]:
Oh, Zen Thought. I really got. The fact that you asked us every week means that I really should have this in my head before I go. I’m going to take one straight from New Masterclass. I Believe this is channeling my inner Jim Rohn. I believe he’s the one that kind of said it first. But you motivate an idiot. They do stupid things quicker, right? Business coaches, business owners, people in business.

Karl Bryan [00:18:14]:
The kid that we just talked about, about to go to college, like, you motivate an idiot, they do stupid things quicker. They’re like, they don’t know what they’re doing. The next thing you know, they sign up for tens of thousands of dollars in the next four years of their life, you know, to get a degree in something that they’re actually not all that interested in.

Karl Bryan [00:18:28]:
Right?

Karl Bryan [00:18:28]:
Not such a great idea. But really talking about a business, again, you get, okay, you know, the business owners, like, they grow from 1 million to 3 million and they make less money at 3 million than they did at 1. That’s not the worst part of the story. The worst part of the story is that at 3 million, they’re more vulnerable. They’ve got more suppliers and more staff and accounts receivable is growing and they’ve got, you know what I mean? Like they, you know, they got one staff. A rogue staff member leaves and goes into competition with them. Somebody steals their database. Something gets, you know, you’re more vulnerable at 3 million than you are at 1.

Karl Bryan [00:19:03]:
And that’s not the cell translation. It’s not that you don’t want to grow from 1 to 3. You’ve got to protect your margins on the way from 1 to 3. So in my masterclass, I talk about math and margins over motivation, right? So motivate an idiot. They do stupid things quicker, cautious with that again, a business owner’s losing money on their clients and then they go sign up a bunch more clients. Not a great idea. Business owners got an accounts receivable problem and they step on the gas and pour gasoline on all their legion. Not a great idea.

Karl Bryan [00:19:34]:
But you know what? Actually also something on my mind. This is Keith Cunningham 101. You want to build a bit. I was talking to a buddy of mine at length and in depth over the weekend. Had something to do with acquisition that I mentioned earlier. Look, you want to build a. Exiting is an inferior conversation. Exiting is a low level thought and the higher level thought is build a business you could sell tomorrow, but you don’t want to.

Karl Bryan [00:20:04]:
There’s your zen thought, build a business you can sell tomorrow, but don’t want to. Help your client build a business they could sell tomorrow, but don’t want to. Right. I think that that has got power and maybe straight from my email off the top of my head and I hope I can remember this, but you know, we’ve got Christmas time stamp this, but Christmas and the holidays are on our way. You know, there’s six, six things to cherish. And now you’re gonna ask me what they are. I’m gonna ask myself there. You got time.

Karl Bryan [00:20:38]:
Beautiful thing. Cherish it. I just lost a very, very close mate last week. One of my dear. There was a time in my life where he was, you know, he and I were inseparable. Love, love, love. Shout out to Johnny T. If you’re into prayer, you could say a prayer for Johnny T’s family.

Karl Bryan [00:20:53]:
He’s got two kids and a beautiful wife that no longer have him. And believe me, this guy, this is a whole, you know, hundreds of people came to his funeral. Just unbelievable guy. But look, you know, time is one of those things where, you know, you’re spending it, but you don’t know how much you have left to spend, right? So cherish that health, obviously, you know, what do they say if, if you’ve got your health, you have 100 dreams. If you don’t have your health, you have one. Okay, and that goes for the billionaire, the trillionaire, the multi millionaire, the millionaire, etc, the guy in the, you know, the, you know, the Lamborghini or the massive house. Cherish it. A quiet mind.

Karl Bryan [00:21:34]:
This, I think again, you asked me about the Zen thought for me, you know, a quiet mind, I, I run pretty fast and I tend to take on, you know, things that I should or shouldn’t. But you know, I, you know what I mean? I kind of write checks with my mouth, my mouth that my backside’s got a cash every once in a while. Again, just a, you know, an optimistic and pure entrepreneur. I believe that a quiet mind is a beautiful, beautiful thing. And I think that that’s so relevant today because of that stupid thing that you’re probably holding in your hand right now. And that would be called that, you know, your iPhone or whatever you got, you know, your smartphone. So a quiet mind. I tell my daughter, I got an 11 year old daughter and I tell her all the time, you know, I’m bored.

Karl Bryan [00:22:18]:
I said, baby, boredom is a beautiful, beautiful thing, you know, because again, she gets bored and what does she do? She grabs that stinking iPad and she gets stimulated in a bunch of different ways. A quiet mind is a beautiful, beautiful thing. I think that, you know, for young kids, boredom is a, is a, is a beautiful teacher, real friends. Speaking of my buddy Joni T. Real friends, you know, like the last text he sent me has got two. Like, literally the last time I was with him, honest to goodness, I laughed so hard I nearly pissed my pants. And I do not exaggerate him and I. He was a lunatic in the absolute most awesome way.

Karl Bryan [00:22:58]:
Like a lunatic. But, you know, real friends. The last text message he sent me was like two laughing emojis, which is just so, so fitting. It’s crazy. But real friends, you know, and through that, I have found that I’ve been reaching. I had a. I had a face like on Saturday morning. I had a.

Karl Bryan [00:23:14]:
A chat with a buddy of mine that I haven’t seen in over a decade. And his health, by the way, is not all that great. It was just. It was. It was just a beautiful, beautiful thing. Shout out to Eddie, Jamie Edwards. Love, love, love the guy. And it’s just, you know, and we haven’t seen each other, we haven’t spoken in ages, man.

Karl Bryan [00:23:29]:
And we get on that phone and was like nothing else. So real friends, cherish them. Travel, you know, travel, it is a beautiful change of location can be a hack here. When you travel, your dreams are bigger. The goals for your business are bigger. That’s not by accident. So the entrepreneur that says, I haven’t had a holiday in three years, that ain’t a good idea. I haven’t had a day off in six months.

Karl Bryan [00:23:54]:
That is not a good idea. Again, a quiet mind. Travel, a good thing. And then. And then the last one, hopefully this is six. I might have missed one if I did. Apologies, but. And then the last one is House of Love.

Karl Bryan [00:24:11]:
You know, a house of love. That’s nothing more beautiful than that. So it’s the, the holidays approach. I think a nice Zen, like, thought is take a step back and just maybe, you know, list those five or six things and say, these are things that I’m going to cherish. And actually, and I will write this on my Facebook page, I guarantee, right at Christmas. But the ultimate gift you can get people that love you. Love equals time, right? So the greatest present you can give is your presence. And then if you want to slow down time, because what do people say during the holidays? It goes so fast.

Karl Bryan [00:24:47]:
It goes so fast. It goes so fast. This week is going to go fast. This month is going to go fast. Christmas is going to be gone before you know it. If you want to slow down time, the best way to do it is to give it your presence. So I often talk about, you know, going. I go on a walk on the beach, you know, most days, and what I do is I just.

Karl Bryan [00:25:06]:
I think about the sand underneath my feet. That’s a little hack for me.

Karl Bryan [00:25:10]:
Right.

Karl Bryan [00:25:10]:
And. And again, you’re talking to a guy who struggles mightily with this type of stuff. You know, meditation and that sort of thing. It just does not come naturally to me at all. And. And by the way, it’s like, the guy who can’t go to the gym will get the most out of the gym. The guy who can’t meditate, the gal who can’t meditate, if that’s you, you’ll get more from meditation than the person who can do it naturally. So maybe worth, you know, pushing yourself a little bit in that regard.

Karl Bryan [00:25:37]:
Be present. So being present could be something that doesn’t come naturally. You know, You. You know what I mean? You want to go, go, go, go. During the holidays, I encourage you to slow down. Give the. Give the time. Your presence.

Karl Bryan [00:25:49]:
Give your loved ones and close friends your presence. And I think that this could be a wonderful holiday season for you. That’s my answer. Shoots. How to do.

Rode Dog [00:25:59]:
Oh, my gosh, I’m all Zen.

Karl Bryan [00:26:03]:
Was that cheesy?

Rode Dog [00:26:05]:
Like, who is this guy? I don’t even know what happened. It’s so funny. Like, I almost want to. Like, by the way, like, I feel like, you know, my condolences with regards to your buddy, but there’s still a part of me is like, is he going to call his mom now? Like, is this, like, the last buddy where you’re talking about his mom, but last time you made some creepy comment about, like, something about his mom? Like, anyways. Oh, buddy. All right. I don’t know what happened to you, but you zenned right out. Island life.

Rode Dog [00:26:32]:
Hey, like, that’s it. It’s all going to be mellow until your altercation, which is. It’s gonna happen. I’m going to create some sort of a contest with Hudson of when the sharks coming. I don’t know when, but it’s coming.

Karl Bryan [00:26:48]:
All right, all right, let’s keep.

Rode Dog [00:26:50]:
Let’s keep it on the rails. It’s. It’s fascinating. Hey, listen. Okay, so you talked about one of the greatest skills you learned was the presence at the front of the room was one of the greatest things that you learned in Australia. What do you think is the most important skill that you can teach your clients? That again, folks, if you’re listening, like, Karl’s, like, coached and mentored and been part of business coaching for, what, two. More than two decades now? So it’s that whole, you know, as Tony Robbins said, you’d have to be an idiot to not see the patterns, Right? So like what, what would you say most clients typically don’t have? That would be the most important skill that you can teach them.

Karl Bryan [00:27:36]:
Yeah, and by the way, you’re right, man. I got started in 2004.

Rode Dog [00:27:42]:
Oh wow.

Karl Bryan [00:27:43]:
That’s a little two decade shoots. It’s two decades kind of. If I can’t do this, man, I can’t do anything. Okay, so hang on. So I want to make sure most important skill to teach your clients, small.

Rode Dog [00:27:55]:
Business clients, again, just based off your knowledge of having seen so many of them, you’re like, oh man, like this is the one skill that I see more often than not that they just simply don’t have. So what, what is that that a business coach can take and go, that’s it. That’s the one I need to do.

Karl Bryan [00:28:11]:
Okay, okay. Well if you can sell, you can’t coach it and if you can coach, you can’t sell. That’s a gross exact. That’s an exaggeration. And no doubt some can do both very handily.

Karl Bryan [00:28:21]:
Right.

Karl Bryan [00:28:21]:
But one’s going to come more natural. That would be, that would be the consistent. But I would just. So number one, like sales, right? Like think of when you somebody says sales, just think sell to one individual, get on the phone, get toes to toes, belly to belly, close somebody, right? So there’s no doubt if you want to be in the coaching game. Like every coaching call is a sale, right? You can’t keep your clients. I gotta tell you, it’s like you really got to look at, you gotta, you’re not selling your client on their abilities. You’re not selling your client on your abilities. You’re not selling your clients on the program and the Rodemaps abilities, right? So you know, you, you gotta all.

Karl Bryan [00:28:59]:
What do they say, ABC always be closing. You got to think of that as coaching. You’re, you know, you gotta, you gotta believe in them more than they believe in themselves. So marketing would be the next obvious one. And then selling is one to one and then marketing is one to many.

Karl Bryan [00:29:15]:
Right?

Karl Bryan [00:29:16]:
So. So marketing for sure. And then I guess if I were to reverse engineer. Okay, so how are you going to get good at marketing and you’re a coach. Look, offer creation. Like you’ve got to be able to raise somebody’s eyebrows like a new opportunity. If you’re going to be marketing, I can tell you this very, you know, spent. I sent, you know, countless amounts of dollars to the tune of hundreds of thousands of dollars.

Karl Bryan [00:29:40]:
No Doubt I’m in. I could be in seven figures. Who cares? Just let’s assume, like my own credit card, not somebody else’s, right? A new opportunity will outperform. Increase, right? So increase your profits by 20%. Will not.

Karl Bryan [00:29:55]:
Will.

Karl Bryan [00:29:56]:
Will not outperform. A new website, a new podcast, a new business plan, a new CRM funnel, a new list of prospects, a new sales system, a new marketing campaign, a new Facebook ad program, Right? So, and before you establish this, you must ask, what do you want? Right? You gotta establish where they are. And remember, business owners, what they’re gonna tell you is gonna be different from what they want. Generally, what they really want is freedom. But they don’t use that word. They use more clients, they use more money, they use more profit, more time off, they want more holidays, they want a more systematized business, right? Really what they’re doing is they’re, they’re telling you, I need freedom. I need to, you know that, that peace of mind I talked about earlier, that quiet mind. So sell that.

Karl Bryan [00:30:45]:
You know what I mean? So increase to a new opportunity, will outsell improvement all day long. But you know what, I’m gonna, okay, so I’m gonna go, I. Look, what are the. They want to be happier. You know what I mean? Like they, they want, they want to be happy. They want to become happy. They want to be happier, right? And, and remember, it’s not that they want to be happy, it’s what they want to be happier than their neighbors. They want to be happier than their brother in law.

Karl Bryan [00:31:10]:
They don’t want a bigger house. They want a bigger house than their neighbor. They want a bigger house than their brother in law, a bigger house than their friends, right? You want a better car, you want a better car than your friends. You want a better car than your neighbors. You want a better car than the one you have, right? So, so translation, context is everything. Context is everything. The ability to create that context, by the way, is a great way to learn how to make sales, right? Because remember, they tell you one thing, but they really, again, they tell you they want more revenue. What do they say? They want to make a million bucks, right? And again, they don’t use these words, but that means gross revenue.

Karl Bryan [00:31:49]:
But the problem with wanting a million bucks and getting a million bucks is they could make a million dollars in gross revenues and lose money. They can make a million dollars in gross revenues and make 60 grand. And translation, that’s a very vulnerable business because those profit margins are absolutely brutal, right? And they got to get to A million bucks. They would have some staff, they’d have some outlay, they’d have some risk involved, right? So the answer that I’m going to give the number one skill, I’m worried Rode dog’s going to laugh at this. But like how do I like the ability to manage their emotions. Like I think that’s the needle mover, right? Like if you’re going to want to grow your business and grow it profitably and take on staff and manage staff and build a sales team and manage a sales team and have happy clients and get testimonials from happy clients and get referrals and build the business that you want. The ability to manage those emotions, right? And just keep going the next step, you know, just keep going up. I’ve said this many a times but like if I knew, like knowing what I know now, what it takes to build, you know, an eight figure coaching company, like would I do it again? The question is I don’t know, right? Like my heavens, if I knew the amount of work and the 60 hour weeks and the pressure and the headaches and the dramas and the, you know, certain level of chaos being just, you know, an automatic.

Karl Bryan [00:33:13]:
With so many people and so many things and managing software, you know, and building out software and solving problems with software anyway, so that’s, you know, it’s the ability to manage those emotions the whole way. So the beauty is by ignorance is bliss is what they say, right? So by not knowing what it would take, it’d be so much easier for me to do it again versus now I know what it takes and I would go, you know what? I think a seven figure coaching business with ridiculously high profit margins sounds a little bit sexier. So anyway, so forget that the needle mover is the ability for yourself to manage emotions and the ability for your clients to manage their emotions. And I would complement that with the ability to influence others positively, right? Like that. Like the new offer, the new website, the new sales funnel, the new, you know, the new profitable program is really you, your ability to influence others, right? Like speak to the richest people in the world, right? And Tony Robbins has said exactly this so many times, right? You speak to them, interview them truthfully, they’re not that happy. Jim Carrey said this many a times and he has a famous quote around it where he wishes Everybody could have $10 million so that he could see it’s not the solution that they think it is, right? Money just makes you more of who you are. You know Robin Williams killed himself, right? Had everything Economically, my gosh, he had $10 million plus. Plus he had $10 million in his savings account would be my guess.

Karl Bryan [00:34:45]:
Right?

Karl Bryan [00:34:45]:
But, but they have that and they live in this complete desperation. Yes. And look, social media influencers. Oh, not good. Living your life by way of likes, comments, shares is just a brutal way, you know, and up. And by the way, what, you know, the thing about the Internet, it doesn’t stop. So you wake up at 3 o’clock in the morning and they’re checking their likes, they’re liking their, checking their comments, they’re checking their views and shares. And I think that we’re seeing that now, right? It’s just too damn public of a way to live life.

Karl Bryan [00:35:17]:
But they, they, you know, they like privacy is a beautiful thing. Ask a famous person. And I’ll tell you, once the toothpaste comes out of the tube, it doesn’t go back in.

Karl Bryan [00:35:28]:
Right.

Karl Bryan [00:35:28]:
So Macaulay Culkin would be the best example that I could give of that. Do you. Again, never, I don’t know get, I mean, never spoken to the man, but I’ll tell you that, I think that he will tell you that fame is something he would prefer to be without. You know, Justin Bieber, I don’t know, you tell me. But I just don’t know how happy he is with the level of fame, not being able to leave the house. You know, Mike, watch the Michael Jordan the Last Dance. You know what I mean? The guys have to. Most of the Michael Jordan stuff is him inside a hotel room smoking a cigar, you know, by himself, right? Because again, he goes outside and he gets freaking mobbed.

Karl Bryan [00:36:07]:
I had a YouTube channel for a while and honestly I stopped for that exact reason. I found myself being consumed by the views and the lack thereof. And you know, I. Anyway, so that’s, that’s what I would, I would dare say. Just. And by the way, maybe I don’t have, you know, in order to do that. You know, it’s the, it’s the emotional intelligence, it’s the managing of the managing of emotions that I think will allow somebody to build a successful influencer type world, right? Where, you know, YouTube, you know, views and whatnot is your barometer of success. So, and, and I just.

Karl Bryan [00:36:48]:
The person, it’s, it’s like the person, the elected official, the person who wants to become a politician, generally speaking, is the person who you don’t want to be a politician. It’s the person that says, I would never go into politics. That quite frankly, would be perfect for politics.

Karl Bryan [00:37:03]:
Right?

Karl Bryan [00:37:04]:
Well, the person who wants to be the YouTube influencer, wants to be the influencer, generally speaking, doesn’t have the emotional management of the person who would be ideal to manage the ups and downs of the likes and shares and views, etc. Anywho, where am I going? Not really sure. But you want to be able to help your clients become successful. Look, self sabotage, right? What happens? People build successful businesses and then they tear them to hell down, right? And believe me, I have been there, I have built multiple, multiple seven figure companies and I got to tell you, there was just different times that I can look back and just say look, I lit this thing on frickin fire. So emotional intelligence, it’s in, I don’t know if it’s in short supply, but I think that it’s not in the people that really need it. And you know, like real leaders, like if you want to be an influencer, what you really want to do, like you’re becoming a leader. Real leaders create more leaders, not the hanger on types, right? So I always say like if you, if you’re a successful business or you’re a business, if you’re a business coach using social media successfully, I got to tell you that you’re, you’re, I don’t need to sit down with you to know that you’re selling more to the lurkers than you are those that are liking, sharing and commenting on everything you’re doing.

Karl Bryan [00:38:24]:
Right?

Karl Bryan [00:38:25]:
So yeah, emotional intelligence, the ability to manage emotions, I just, I think it’s right up there. And that’s like expectations. Charlie Munger will say that expectations are opportunities to be disappointed. Expectations are opportunities to become resentful. Expectations are an opportunity for you to be let down and let down big time.

Karl Bryan [00:38:48]:
Right?

Karl Bryan [00:38:48]:
So you know Mary Kay, she’s got a famous saying. I sent this out in an email that I got lots of feedback on. It’s like I might not get this quite right, but every Mary Kay says, you know Mary Kay, you know the pink Cadillac to do, to do, to do. Hopefully you know who that is. Very, very successful MLM company for a Life again stood the test of time over many decades. And I think that’s somebody who you should possibly be listening to, maybe not. Shoot, you should be listening to Mary Kay way more. But anyway, so she, she says that you have a sign around your neck.

Karl Bryan [00:39:23]:
No, everybody has a sign around their neck that says make me feel important. So that’s what she, that’s the secret to her. Somebody said what’s the secret to your sales team? And she Said that I told them everybody’s got a sign around their neck that says, make me feel important. Important, you know, so. Shoots. That’s what I’m gonna say. That’s my, it’s, you know, managing emotions is very, very hard. That’s the good news and the bad news.

Karl Bryan [00:39:49]:
The good news is others don’t have it. The bad news is it’s hard for you to do it. You do it. And I think you, you know, you got the, the makings of somebody to build a 7, 8 figure business better than the others. So that’s my answer.

Rode Dog [00:40:04]:
There you go. There you go. You want to do one more?

Karl Bryan [00:40:06]:
Let’s go. Shoots. I’m good if you’re good.

Rode Dog [00:40:09]:
Okay. This is a little bit off the cuff. This is a little bit different because you talked about a skill that you might not have. Obviously, as I said before, you’ve seen a lot of different businesses and obviously with the economy the way that it is and things probably tightening up and possibly the recession, all that sort of stuff, it’s a long winded way for me to say, should I be encouraging my clients to have a bit of an emergency cash fund, like six months or whatever? Is that, do you think that’s A, our job as a business coach and B, do you think that’s even wise?

Karl Bryan [00:40:46]:
Ooh, okay. Beauty, loaded guy. I think it’s a great bloody question. That’s what I think. If you asked Dave Ramsey, he would say, I’ve never, in fact, I have heard him say it. He’s going to say hardcore. Yes. And then if you ask Grant Cardone, he’s going to say hardcore.

Karl Bryan [00:41:10]:
No. You know what I mean? So again, so little red arrow, you are here. Translation, risk tolerance is something that I would need to understand about the individual. Remember, without meeting the client. Their goal is wealth, freedom. And the reality of something like this is luck plays a role. And to say anything different is nuts. Like if you look at the most successful companies of our time and let’s call that Walmart and Facebook and Disney and Apple, et cetera, and Amazon, what did, what do they have in common? And it’s one thing that they played no part in and it’s called timing.

Karl Bryan [00:41:47]:
Right?

Karl Bryan [00:41:47]:
If Walmart would have been started right before a pandemic, I got bad news. I don’t care how, you know, you know, hard Sam Walton was working and how many, you know, helicopters he took over top of cities to, to manage the, you know, the, the flow of traffic, etc, that, that was not going to help him. So anyway, so Timing. And again, people don’t talk about that. Luck plays a part. Let me explain. So my thoughts are like, let’s say you got $10,000 burn, okay? Like it cost you $10,000 to live. So you say six month cash reserves.

Karl Bryan [00:42:18]:
And I’m pretty sure that’s what Dave Ramsey says. And by the way, Dave Ramsey, very smart guy, but I gotta say, he, if you listen to Dave Ramsey and you go, he doesn’t know what the hell he’s talking about, or you hear others saying, Dave Ramsey doesn’t know what he’s talking about. Dave Ramsey’s talking to staff members making $65,000 a year. That’s where his advice comes from. He does not talk to entrepreneurs.

Karl Bryan [00:42:40]:
Right.

Karl Bryan [00:42:41]:
So again, that’s very, you know, understanding. He understands his avatar, he understands his clients.

Karl Bryan [00:42:45]:
Right?

Karl Bryan [00:42:47]:
Okay. So let’s use 60 grand, if that’s okay, right. As our, our cash reserve over six months. And it might be 30 and it might be 60, whatever, 10 grand a month. Well, that 60 grand, if you left in a bank account the way that Dave Ramsey advises, it’s basically like losing money, right? Or what you, you know, assuming, you know, inflation. So that means that your cash is losing value. And Robert Kiyosaki screams that from the mountaintops. Is he right? Well, if you took that six, let’s just say you got to put 10% down to buy a house locally where you’re at.

Karl Bryan [00:43:21]:
Okay, well, what would that get you? You know, what is that going to get you? A $600,000 house, it sounds like, right? You put 20% down and I guess you got a $300,000 house. And that will vary wildly. Before you say that I’m wrong there, like, you know, Veterans often get zero, you know, can buy houses for 0% down in different places, and then a new home buyer can pay like 3%, right? So it varies a little bit. Or, you know, 0% down and 3% down. So let’s just assume 60 grand, though, is our number. You want to follow the 1% rule. Okay, the 1% rule is this, that if you buy a 3, $300,000 house, you rent it for 3 grand. And that means that if you have a $600,000 house, you’d want to rent it for 6 grand to be able to follow the 1% rule.

Karl Bryan [00:44:09]:
The bad news is that, you know, $1 million house is not going to rent for 10 grand. And by the way, the $6,000 house is probably not going to rent for 6 grand either.

Karl Bryan [00:44:18]:
Right?

Karl Bryan [00:44:18]:
So how would you get 10 grand out of a million dollar house, somebody’s listening. And go, oh, well, Airbnb it, right? Okay, well you could do that. And sure, you’d probably net ten grand a month and God bless you, that’d be awesome. But if you’re going to Airbnb your house, you just start that as a business, right? What does a business take? A business must be managed. It takes time, it takes resource, it takes focus, right? So as houses get more expensive, the good news is you then increase the capital gains. So you’re going to lose the 1% rule. White might not factor, but if you make 10% on a million dollar house, you just made 100 grand in capital gains. Translation, a good thing.

Karl Bryan [00:44:59]:
If you look at people that have made gobs and gobs and gobs of money in real estate, to be clear, okay, And Robert Kiyosaki won’t tell you this, but the real money comes from capital gains, as in, you know what I mean? Like, it comes from capital gains. That’s the $300,000 house being worth 600 grand in 10 years and the $600,000 house being worth 1.2 million in 10 years. And ideally, you got the rule of seven working in your favor where you get a 10% return and that means you double your money every 7.2 years.

Karl Bryan [00:45:29]:
Right?

Karl Bryan [00:45:31]:
So, but again, not everybody’s in a position to be able to go and, you know, buy a million dollar house. So you’ve got to start where you. So the 1% rule for the average would be where you want to be thinking. But what I’m trying to say is like taking $60,000 and leaving it in a bank account. Should you do that? And timing is the question, because if you live through a boom and your 60 grand sits in the bank account, it’s, it’s, you know what I mean? It’s depreciated big time because inflation’s up. That means the cost of the houses are up and you’ve lost a big opportunity.

Karl Bryan [00:46:04]:
Right?

Karl Bryan [00:46:04]:
So, so it’s luck. So, and the other thing is, if you’re going to buy a house, again, a little bit off topic, but the way that you manage to, like what I’d want to do is I want to buy a house where I can add a bathroom and I can add a room. Okay, what happens? I’ve now increased the value of the house. I could go back to the bank, I could refinance that. I could get my money out and potentially take that $60,000. And do what? And buy another one.

Karl Bryan [00:46:37]:
Right.

Karl Bryan [00:46:38]:
So what that takes and what I just said. If you’re going to buy a golf course, you need a plan. If you’re going to build a house, you need a plan. If you don’t have a plan, the golf course is going to be a dog’s breakfast. The house is going to be a dog’s breakfast. If you don’t have a plan to do what I’m describing, it’s going to go haywire. So make sure that you’re a little bit cautious with that because there are nuances to what I’m describing that we’d be on here for a long time in order to fill them all in. So you know what I mean? Look, speak to the pros in your area.

Karl Bryan [00:47:10]:
Speak to people that have done it.

Karl Bryan [00:47:12]:
Right?

Karl Bryan [00:47:13]:
Like again, and I am, ask me, am I investing $300,000 and following the 1% rule? And the answer is no. So I’m not the person to ask for that plan. There are people in your area, I would imagine, or people close to you that have done it. Don’t go to Facebook and go to the influencer. Go to somebody who’s got 10, 25, 50, 100 of these things, right? Ask them some questions they won’t get on the phone with you. Ask, offer to pay them for their time.

Karl Bryan [00:47:40]:
Right?

Karl Bryan [00:47:41]:
But translation, make a plan. Make a plan. What am I trying to say? Taking that 60 grand and should you just plunk it into your bank account? I think that’s a good idea. I think that’ll make some people, you know, your. Show me your risk tolerance. Show me your ability to sell. If you run into a cash flow problem, a good salesperson can go and solve it by picking up the phone and making things happen. Well, that person I would encourage to be a little bit more, you know, proactive in that regard versus somebody who can’t pick up the phone and sell something, somebody who had a job as an example.

Karl Bryan [00:48:17]:
I’d be encouraging them to, you know, be a little more. Be a little more cautious because they, they don’t have the ability to sell the. Sell their way out of trouble. And remember, speaking of a plan, in order to get ahead in real estate, you gotta own two houses, which is very relevant for this conversation.

Karl Bryan [00:48:34]:
Right?

Karl Bryan [00:48:34]:
So what most people do is they buy a house and then they have another kid or they decide they want a better house and they start making more money. And what do they do? They sell the one house and buy a second and upgrade. Well, you’re not, you’re not going to get anywhere if you Only own one house, you’ve got to own two, right? Do you not like that? You know, as part of your game plan, if you think that, you know, investing in real estate of you, like, if you own a house and it appreciated from 300 grand, 600 grand, and you now think that you have $300,000 of capital gains, which you do of equity, the problem is that I assume you have to live in a house. Do you know what I mean? So if you’re going to just sell it and rent, well, little red arrow, you are here. What stage of your life are at, Maybe that’s what you’re going to do and you guys are going to retire, the kids are out, your empty nesters. Okay, then, then that plan works. But if you’re 35, you’re 45. I don’t know if that’s the best plan.

Karl Bryan [00:49:31]:
The bottom line. So what you do is you go to the bank. If the house appreciated from 300 to 600, you go to the bank and instead of selling it, you go draw against the $300,000. You get a good percentage of it, 60 to 80. But let’s just say you get 60% of it and now you use that money to put down on the next house. Nuances to all of this stuff. Again, speak to people smarter than I. Speak to your accountant, Speak to people that have done it.

Karl Bryan [00:49:56]:
But that’s the way that you, you know what I mean? If the goal is because 60 grand, look, we’re looking for. What are people looking for? They’re looking for wealth, they’re looking for freedom, or that’s what entrepreneurs are looking for. You know what I mean? Well, you know, creating, you know, economic environment that’s favorable. I think that’s a really. These are the things, types of things that I, as a business coach, is this relevant for a business coach? Is this, is this helping the butcher, the make of the candlestick maker? Well, I think it is because the reason that they hire you is that they want to become wealthy. They want freedom, right? So understanding these things, as they start thinking about buying a bigger house, it’s like, well, wait, wait, wait, wait, wait. Before you go and sell that house to buy a bigger one, here’s what somebody on a podcast said that I agree with. What do you think? And let them digest.

Karl Bryan [00:50:46]:
And before they make the decision, I would talk to them about their risk, their risk tolerance. So back to the example. If real estate booms, the $60,000 sits in the bank account and depreciates versus if you were able to buy, hypothetically, a $600,000 house that becomes worth 800,000. Because the best time to buy real estate is during a boom. Well, that 60 grand could have turned into $200,000 of capital gains, right? So I don’t know that’s. And there’s risk in all of this. The way to get around it, it’s, look, it’s timing and a little bit of luck. And anybody says that what I’m describing right now does not take a little bit of luck would be kidding themselves because they don’t know what the economy is going to do.

Karl Bryan [00:51:34]:
They don’t know what real estate prices are going to do. They don’t know what the stock markets are going to do. They definitely don’t know what the crypto market’s going to do.

Karl Bryan [00:51:41]:
Right?

Karl Bryan [00:51:41]:
Everybody’s now go all in on crypto. Go all in on crypto. And I’m be cautious, be cautious. And I’m a fan of crypto, right. I’m putting in dough myself. But my gosh, I, I’m expecting a roller coaster of a ride, you know, not a one way. I, I said you could podcast on this podcast, Rode Dog. We talked about bitcoin getting to a hundred thousand dollars a lot.

Karl Bryan [00:52:04]:
Anyway, so, so there you go. Shoots. And I might just. So the other thing that the problem is what I’m describing, okay, is what the entrepreneur does not do with the 60 grand. Okay, what do they do with the 60 grand? They go buy $100,000 car. And that’s, you know, the rub and that’s the mistake. And maybe the 60,000, you know, $60,000 car, the hundred thousand dollar car makes them feel warm and fuzzy and that makes them a better business. It makes them a better businessman, it makes them stronger, it brings in some clients don’t know those things have happened.

Karl Bryan [00:52:38]:
But I think really, when you understand buying $100,000 car, it’s not just the price of the car, it’s the premium gas. It’s. They’ve got two sets of tires. They get a different size of tires on the front and a different set of tires on the back, right? They’ve got, you know, they’ve got rims, they got low profile tires more expensive. You’re going to go through more of them. When you take it in to get repaired, it costs you more money. You got to get insurance, it’s more expensive. Heaven forbid they’ve got interest payments on it, right? Well, $100,000 car, the interest payments on $100,000 car versus a $25,000 car are two different stratospheres, right? And not to mention, you buy a hundred thousand dollar car and let’s assume this is like a, you know, I mean, look, they want to drive it, right? Same when you buy.

Karl Bryan [00:53:23]:
The problem with the boat is that you want to take all your friends out. Well, that’s not so bad until all of a sudden it takes your focus away from the main thing. You got to keep the main thing. The main thing. Michael Jordan was Michael Jordan because he made the main thing. The main thing. He’s a billionaire through Nike because of, you know, his basketball skills, not his abilities to design shoes.

Karl Bryan [00:53:46]:
Right.

Karl Bryan [00:53:46]:
The big screen tv, you want to start to watch it. So anywho, shoots in closing, that was maybe a little long winded, but Elon Musk uses his money to invest in businesses. Place that 60 grand into your business is kind of where I was planning on, I was trying to direct. This took a, took me a while. But like, you know, you own your own business, hire a staff member, you could double and redouble your money in a very real and, you know, real and meaningful way if you don’t, you know what I mean? If your client doesn’t have staff members, they’re not investing in their own company. You know, that’s, that’s, that’s a bit of a mistake. So anyway, shoots. That’s my answer.

Karl Bryan [00:54:24]:
How did I do?

Rode Dog [00:54:25]:
Well, okay, so I know we got a wrap, but I want to just quickly get to this. Now you had, you made it very clear. Absolutely nobody knows what’s coming next. Hey, but Karl, hey, what are your thoughts around the recession coming? I totally set you up for that one. Nobody can predict it, but maybe Karl can. Folks, here we go. If the recession does come, what are your thoughts around a recession coming? How about that? I’ll soften the blow for you because nobody knows if it’s actually coming, but I’d love to get your thoughts around it just to close this loop.

Karl Bryan [00:54:59]:
Yep. I, My answer is that, okay, so Donald Trump was just elected and what’s every, what everybody is saying is that the economy’s going to boom. The economy’s going to boom. The economy is going to boom.

Karl Bryan [00:55:12]:
Right?

Karl Bryan [00:55:12]:
Go all in on crypto. Go all in on your investments. Well, what did everybody say during COVID right? It’s going to crash. It’s going to crash. It’s going to crash. It’s gonna, you know what I mean? And I, I thought the same thing, right? What did it not do? It did the opposite.

Karl Bryan [00:55:26]:
Right?

Karl Bryan [00:55:27]:
So my worry is that everybody is now singing the same. Remember the New England Patriots? They, you know, gonna go undefeated and end up losing in the Super Bowl. And everybody was like, they can’t lose the Giants. They can’t lose the Giants. They can’t lose the Giants. You know what my old man said to me? They’re losing to the Giants. So when it looks this obvious, things go sideways. And guess what? They lost to the Giants.

Karl Bryan [00:55:50]:
So I just, I’m going to make it short. And that is that. I do. I think a recession is coming. Do I think really good economic times are ahead? I do. I think there’s going to be. I think there’s a lot of really good things happening. And I think that we should be optimistic.

Karl Bryan [00:56:05]:
And remember, optimism can add 25 points to your IQ. So you should grab them. I should grab them. Rode dog. You should grab them. Everybody should.

Karl Bryan [00:56:12]:
Right?

Karl Bryan [00:56:13]:
But what I’m going to say is that, you know what nobody saw coming? Pearl Harbor. You know what nobody saw coming? 9, 11. You know what nobody saw coming? Covid, what did nobody see coming? The Lehman Brothers falling over and not finding a buyer.

Karl Bryan [00:56:27]:
Right.

Karl Bryan [00:56:28]:
So, you know, the dot com crash. Nobody saw it coming. So I’m just going to say that I don’t know. The influencer on Facebook doesn’t know. Warren Buffett will scream from the mountaintops that he doesn’t know. Donald Trump, I don’t believe, is pretending that he knows, but he does. You know, he’s saying that he’s going to do all these wonderful things and he thinks that they’re going to have, you know, wonderful, you know, upside. But what, when the punch in the mouth for the economy, what is consistent over the last hundred years is you don’t see it coming.

Karl Bryan [00:57:01]:
It scares me that everybody is talking about, you know, in crow, I was on with a, you know, some guys on Friday shout out some, you know, venture capital guy or sorry, private equity guys, and they do some impressive stuff. And they were just talking about, you know, the valuations are going to go through the roof. And I said to them what I just said to you, like, I get that and I think so too. But I’m also going to be a little bit, I’m personally cash heavy right now. And by the way, Warren Buffett is the same, right, to be clear, which kind of applies in the face of what I just said. But it, but it doesn’t because it’s little red arrow. You are here, right? Like an entrepreneur wants to make it and an investor wants to keep it, right? Like an Amateur thinks of what could go right, and a professional thinks of what could go wrong. It’s, you know, the ultimate strategy.

Karl Bryan [00:57:52]:
No, the ultimate. The ultimate competitive advantage is not a. It is not a strategy or a tactic. It’s a higher level of thinking. My thoughts are that I got no stinking idea and not pretending that I know. But I do want to throw a little bit of caution to the wind that I feel like it’s a little bit like the Patriots, you know what I mean? When they can’t lose. They can’t lose. They can’t lose.

Karl Bryan [00:58:18]:
Oh, something’s gonna come that Trump. It’s not going to be Elon Musk fault. It’s not going to be Trump’s fault. It’s not going to be. It’s going to be just something that we didn’t see coming. Translation, timing matters. And I don’t know, I just. I would be in little radar.

Karl Bryan [00:58:38]:
That’s it. That’s something to throw into your basket of Little red arrow, you are here. I don’t have the answers, but measure where you’re at. Coaching is this little coaching. Two rules. Two rules of investing. Don’t lose money. See rule number one.

Karl Bryan [00:58:54]:
Two rules of business. Now, rule number one, get clients. Rule number two, keep clients. Two rules of coaching. Measure two things. One, where are you? Rule number two, measure where you want to get to or define where you’re trying to get to your destination. Just think of your gps, little red arrow. You know, your GPS doesn’t work, but can’t establish where you’re at, Right? So those are the two.

Karl Bryan [00:59:23]:
You know, the framework of coaching right there. So little red arrow, you are here. And timing matters. Timing matters. You buy real estate during a boom, you look like a genius. You buy bitcoin during a boom, you look like a genius. You get early on real estate in New York, you look like a genius. So problem is, you could.

Karl Bryan [00:59:44]:
You could look the exact opposite if you guess right. If luck and timing work against you and you don’t have control over those factors. So just be. Make intelligent decisions. I think the answer to our $60,000 answer that I gave earlier, I think there’s somewhere in the middle, right? Six months. That might be a little bit overkill. Let’s. Let’s go three months, and then let’s put the three months, the 30 grand, in harm’s way in an intelligent way, with a plan out of that.

Karl Bryan [01:00:13]:
Shoots. There’s my answer. What do you think?

Rode Dog [01:00:15]:
Like it. Like it. Do you want to close us out with the one thing.

Karl Bryan [01:00:21]:
The one thing I think I just gave it shoots just, you know, the. Little red arrow, you are here. Establish what you want. Do the exact same thing with your client. Little red arrow, you are here. What do they want? But remember what they want. They’re going to give you all different frameworks, but where it ends, the. The pot of gold at the end of the rainbow is freedom for them, but they define freedom differently than I do.

Karl Bryan [01:00:46]:
You define freedom different than I do, and you know what I mean? Like, so everybody defines it slightly different, you know, Like, I grew up with a professional gambler, you know what I mean? The reality is that my level of risk tolerance as a newborn was significantly higher than the average bear. You know what I mean? Like, I can just. You know what I mean? It’s just, it’s, it’s, it’s, it’s just. It comes naturally. You know what I mean? That, you know, that aversion to risk, it just comes more naturally than it does to others. And remember, the number one skill that you can teach. You could teach me and I could teach you, and you can teach your clients is emotional regulation, you know, helping them manage their psychology. If.

Karl Bryan [01:01:29]:
Anyway, so that’s my answer sheets. There you go, bud. That’s. That’s what I’m doing. That’s what I’m saying. Perfect. All right, everybody.

Rode Dog [01:01:35]:
Well, thanks again for tuning another episode of Business Coaching Secrets with none other than. None other than. Wow, that’s. That’s real easy to say. The king of the Caribbean. The king of the sharks. The shark king. Ooh, I like where this is going.

Rode Dog [01:01:50]:
King Karl. If you’re not on the inside, if you’re not getting asked the pre show, you aren’t getting Karl’s daily emails. You just want to learn more about profit acceleration software and how to grow and scale your business coaching practice, visit focused.com and subscribe today and again. If you enjoyed the podcast, please, like, share. Do all the things as again, we are trying to hit as many people, make as big of an impact as we possibly can. And that is it for another week. We will see you on the next episode. And remember, folks, progress equals happiness.

Rode Dog [01:02:22]:
Take care, everybody.