In today's episode we talk about an integral part of business, Support. Make sure to tune in to find out what aspects of support we find critical and how you can begin that transformation into thinking like an entrepreneur.
Support and connection are integral parts of the wheel of wealth, which is step 5 in the WealthBuilders 7 step process for generating recurring income from assets. Our members have access to 7 different levels of support, but where can you find that support from otherwise? In this episode, Kevin and Christian share 3 aspects of support which are critical: it must be impartial, it must be proactive and it must challenge you to think of the correct answers to your questions, and begin that transformation into thinking like an entrepreneur.
Resources Mentioned In This Episode:
>> Download the Wheel of Wealth Template
>> Order the WealthChart A4 Wealth Planner
>> Register for Free Access to the WealthBuilders Membership Site
https://www.wealthbuilders.co.uk/membership
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Unknown Speaker 0:01 The purpose of wealth talk is to educate, inform and hopefully entertain you on the subject of building your wealth. Wealth builders recommends you should always take independent financial tax or legal advice before making any decisions around your finances.
Christian Rodwell 0:19
Welcome to Episode 64 of wealth talk. My name is Christian Rodwell, the membership director for wealth builders and I'm joined today by our founder Mr. Kevin Wieland.
Unknown Speaker 0:27
more
Christian Rodwell 0:28
interest. Nice to talk to you today. He did date Sunny, shining another week ahead. So we are actually really getting into an exciting stage with our members and it's worth just taking a second to talk about that because we launched our seven steps to wealth programme back in March and it was it was difficult period at the end of March just as we had gone into lockdown. So just want to say a big thank you to everyone that did join the programme and for the massive, massive progress that you're making. It's it's going so well. We're enjoying it. And it's really brought up an important factor which we want to focus on today. Kevin hasn't yet which is the importance of support and connection.
Unknown Speaker 1:08
Well, you know, support and connection are integral parts of the overall wheel of wealth, which is one of the fundamental tenets of the whole wealth building principles. I mean, wow, it feels quite a while Christians we mentioned will the wealth,
Christian Rodwell 1:25
whale of wealth we talked about back in episode nine of wealth talking. That was in April 2019. So yes, it has to be somewhere now.
Unknown Speaker 1:34
Wow. Well, I think we need to give a reminder of the wheel of Well, let me do that. So if you imagine if you're listening, there's a circle. And the circle is like a cog or a wheel or do something you can imagine that it needs to turn 360 degrees, and then when it does, it clicks. You've got yourself a click. Now what does that mean? Well, it means when you've got Full 360 Chris, by the time we've done that, and I'll talk about the elements of the wheel in a moment you have generated, or the intention anyway, is to generate a flow of cash coming into your life, which is then used to build your wealth. And for those who've seen our wealth chart, Chris, it builds that thermometer doesn't it? It sees that thermometer rising, as you see the recurring income coming into your life bit by bit by bit, all the second thing you can do, which is another part of wealth building, of course, is can generate a flow of capital, a lump sum, a nice payment for a successful project in your wealth building journey. And so that's the idea. And the wheel consists of five component parts like spokes in a wheel. And the first one which we probably talk about every single day, Chris is education. And second one is support The third is connections. The fourth is due diligence. And then the fifth is the action that you take, following all the guidance all the way through. Now while that sounds very simple, guess what people do though, Chris? Well, they might cheat the wheel, wheel down a bit, get a little bit of education and go straight to action and then usually go backwards. So or they get a bit of education, they spend their time in education. And it's really, really important to get an education and welfare isn't something you can really DIY isn't something you can just drift and bump into people or bump into things and find a pathway. It's a serious business, creating wealth, and some hard work put into doing it sequentially will work. So we've done enough about education over the course of the podcast, Chris, but probably what we haven't done really so much is talked about the importance of support. Of course, connected to support is the point of connected to that connection. So the whole idea of not just feeling that you've got some guidance, but also you're making connections to other people who bring that guidance to life, you bring the education, you'd be learning to life. So I think we can dive into some of those points, Chris, and the importance of how to get that support. Where is that support? Obviously, there's support for those who join our programmes, but, you know, we want to help everybody don't wait. So how do you get that support outside of that, and then connections, you know, how do we make connections inside the programme? And then how do you get those connections yourself if you're not part of the programme, so why don't we dive into that, Chris?
Christian Rodwell 4:50
Well, just before we do that, Kevin, let me read out one of our reviews, which comes from one of our members, one of our founding members, actually Danny Wade, which I think this emphasises the point We're talking about today. And then he left a lovely review for us on trustpilot this time, and Danny says I joined wealth builders in October 2019. It's been such an eye opener. Finally, I'm in a place that enables me to take to make confident and informed decisions about how to proceed with building my wealth and legacy. The way the programme is laid out is easily digestible. And the collaboration between the members is phenomenal. There's so much experience within the group, not only with the coaches, but with the members, that it's been easy to enhance my education and take steps forward on multiple pillars, really enjoying it hands down the best investment I've ever made. So again, summing up the support from the coaches and the support from the community and that just builds yourself confidence, doesn't it? It just helps you keep taking those small baby steps forwards, which we know is the key is just consistent action. moving forwards. Yes, the whole
Unknown Speaker 5:55
wealth building process is about momentum. And thank you for Danny for Not just, you know, following the programme, but also taking time out. Because this is a problem, isn't it, Chris, that life is busy life throws as throws curveballs at us from all directions. And it's really important to take the time to do this properly. And I think, you know, it's great that Dan has done that. We want to help anybody who is thinking about this for themselves, you know, how would they, how would they put some of those mechanisms around them themselves? And I can dive into that a little bit, Chris, and just to say that, some general principles and then we can talk about specifics, okay. Yeah, let's do that. Alright. So to me, the essence of support is, you know, I've already said, life is going to get in the way and always reasons why our attention is deflected. So having some thought about support means its focus. It's helping you keep momentum so you don't get derailed. You can be Put off quarter touch, we talked about the quote, didn't we a few weeks ago, about it's the same wind that blows on us all, but it's the set of the sail. That kind of makes the difference and what a supporter is somebody that you can work with who helps you keep adjusting that sail, and to help keep you on track. So while Yes, you'll get blown off, everybody gets blown off course. But the importance of doing that, and I think, to me, there are three aspects to it, Chris, that are fundamental. If you're going to engage professional support. First of all, the support must be impartial. What I mean by that is whoever's supporting you. You want them to be absolutely agnostic on what it is you do. So they should not be worried about which pillar, you're choosing which pathway you're choosing. They're there to help be your guide on that path, whatever path you choose. So they don't have a vested interest in going left or going right? And we see enough out there, Chris, don't we have gurus or guides or mentors where actually they're inextricably linked with selling you something that they own or belongs to them. That really means they're not impartial. And that worries me a bit. But hopefully, people taking good guidance can ask that question, you know what is in it for the supporter to make sure that, you know, they are staying impartial at all times. The second is, to me support must be proactive. In other words, not just simply reacting to you, but to help you second guess what's going on to ask you questions and continue to ask questions, not just now, you know what's happened now, because one of the important features as you create wealth, Chris is it's a momentum thing as you said, and as it moves as you move, you change and when People change. The tendency is they become smarter. And smarter people ask different questions as they turn the wheel. So the third aspect is you would want to be aligning yourself in support in some way that will help you with questions you're going to ask in the future. So in other words, a good guide or mentor will know what questions to ask that you didn't even think to ask. So what I mean? So they're not you're not just saying, Well, how do I do this? And how do I do that? You know, looking for someone who can ask you a better question. And that's what have you thought about this? Or have you thought about that? And that's really integral to the whole principles of support. And, you know, we love providing support, Chris, and we've got a whole structure that wealth builders do, but maybe we could ask you to tell us what that kind of support looks like. And then we can explain to people how to They could build a support mechanism around themselves.
Christian Rodwell 10:03
Yeah, definitely and just try run through some of the steps of support that we offer within the programme. I think there's often a confusion, Kevin, between what the role of the coach is compared to maybe a consultant and a mentor. role should we run through and just kind of clarify in our terms anyway, how we look at those different roles?
Unknown Speaker 10:22
Yeah, I mean, that's a great question, actually, Chris, because the language of wealth, it's like, you know, beauties in the eye of the beholder. Question, you know, the question around coaching, consulting, mentoring, guiding, what does it all mean? Well, to me, and the language we use within wealth builders, a coach is somebody who's there simply to be supporting you to hold you accountable. So it's to say you said you're going to do this. Did you do it? What got in the way? Let's talk about that. So The essence of a coach is the answers lie with you. But the coach keeps you focused on the track. That's what a coach does. In our view anyway, I know there's different language and different people use different things. We use the word consultant for where the individual consultant themselves have an expertise in this specific area. So if there's a particular part of your wealth plan, a particular pillar, and a particular strategy within that pillar that needs very, very specific knowledge, very specific step by steps, then a consultant would guide you to the place where they bring their knowledge so that way, it's, it's a collaboration, so the consultant has got more knowledge and collaborating on a specific area. And then finally, mentor, in our view again, a mentor is someone with more hope holistic knowledge, someone where the really it's not just talking about that one aspect that a consultant will talk about, but it's taking the holistic view of wealth. And of course, few people have a wide ranging set of skills and knowledge and ability to impart that. But where you can find a mentor than a mentor will get more from you. Because they are there, they will be impartial. They will be proactive, they will ask and answer questions for you. And that's the essence of of mentorship. And we refer to mentorship in guiding in a similar light, don't we? Because it's really more suppose you know, if I was to give an analogy, Chris, I'd say it's more like the sort of Dumbledore to Harry Potter or the Yoda to Luke Skywalker. It's, it's that wisdom and that wisdom, isn't there too much out there. There's not a great deal of wisdom. And, you know, if you find somebody that you really resonate with who has that wisdom, you know, that's important. So support is as important as education. And we all know we invest time and money in our education, that's part of life, and true of support as well. And I would regard it wherever you get it from as an investment. Because a good coach or consultant or mentor should be able to guarantee the outcome for you, in terms of reversing that risk taking that risk away, so that the amount of money that you spend, they can guarantee you'll get that money back and more. If they're so confident in their ability to add that value, then they should be able to do that. So that's a rough kind of sketch, Chris, of how we look at it.
Christian Rodwell 13:49
Yeah. And one of the big additions to the programme. This year, of course, is introduction of our brand new wealth coaches. So we we should give a shout out actually to brown Burn comb, Carol Robinson, Chris Henry in half Penny and Manish kataya. And we are so delighted that the five of you have now joined to support our group through by monthly coaching calls. And that's actually one of the seven different ways that we offer support Kevin, so maybe I should just quickly run through those seven just for people, both, you know, in the group who perhaps be good to have a reminder, but for anyone who may be is looking to, you know, to really advance their wealth building skills, and this may be something of interest in the future. So, so the seven areas of support that are available to all of our members Well, the first one is always to begin at home is to look for your spouse, your partner, family, friends, people that are close to you that you can talk to, and and they can hopefully give you some some wise words as well. And then secondly, we have online support. So as part of the programme, Monday to Friday, we have an online ticketing system where any one of our members can consider Made a question and get an answer within a few hours. And we have our private Facebook group, which is open to all our members and a place where they can connect and obviously get answers to questions. And we have an end of month review call with you and Kevin. So that's a chance for us to go through all of the education in the month and see how our members have been getting on and obviously answer any questions and help people get unstuck. And then we have monthly buddy groups. So these are something that really important as well, because it's really moving into the connection element here, Kevin, it's small groups of our members who get together, they create a whatsapp group, they communicate through that. And then they have a once a month call where they, you know, they go through, talk about what their challenges are, try and brainstorm together using their different wealth dynamics in collaboration there to help each other. And then we've got monthly progress reports and then we've got the BI monthly one to one calls with our wealth coaches, as we've touched on there, so lots and lots of support with In the programme, but for someone not in the programme, Kevin, there's other areas of support. And, you know, some of those may include online or certainly your spouse and partner as well. I think
Unknown Speaker 16:09
it's important with spouses and partners, you touched on wealth dynamics, Chris, we know that's a great tool that we use. And, you know, spouses and partners can help each other by understanding their different work dynamics. And as we've said many times, you know, you bring different forms of leverage to the table with your wealth dynamic, because you've got different ways of looking at things different ways of questioning and analysing things. So looking at your wealth dynamics, or getting a wealth dynamic done for husband and wife can often be quite revealing. You know, to show where things where you collaborate well and your worth, sometimes maybe there's a natural tension that can help but of course, there's so many online groups now Chris, with technology, there's there's different groups for different let's say different strategies. So there'd be an online group for, you know, something in the markets, there'll be an online group somewhere for property. They've been on blind group for business ownership or Amazon, you know, creating membership programmes, any form of wealth building, there'll be some form of Facebook group, and just look out for the, you know, the reviews, they get to join them, they're always free to join, get a feeling for whether you resonate with the people who are leading it, whether there's good interaction within the group, you know, so there's lots of things you can do for free. We're not suggesting you have to buy everything. I mean, there's some things that are really essential, you will never get a mentor for free, but you can get Facebook support, you know, that interaction between people where there's a particular strategy and it and I suppose, Chris, there's there's online and offline networking opportunities on there increasingly so. So you can In an online world, you can there's so many different groups in the offline world. There's networking events, and you can attend those and, and see how you how you interact with people and if that's your natural thing or not. And also you can build and create groups of your own if you've got an actual leadership style. So there's many ways that all of this can work for us to help people get some form of network around them, that shields them and makes them feel safer and more focused in a time when life is a big distractor. And I
Christian Rodwell 18:35
do think it's worth pointing out Kevin, that whilst there are so many great free groups online, you do have to be careful as to I guess, applying a filter to some of the information within those groups because there's a lot of people in there giving their opinions and we all have an opinion, right? Some right some wrong but you just have to be careful that not everyone in the group might be as the experienced and knowledgeable and so therefore, applying a filter, and again, another step of the whalers due diligence is not just taking the information as gospel that it's definitely true, but always kind of do your research and make sure before you take any action.
Unknown Speaker 19:14
Yeah, that's really important as well, Chris, and we certainly know that the more technical, the issue. So for example, you know, we've got an incredible support mechanism within our community in the UK, in SAS, the small self administer scheme, that sort of directors pension, where there's incredible power, but there's also danger, if you get it wrong with a high performance vehicle. And if you don't have the skill, you can easily wrap yourself around a virtual tree with HMRC. And we've got an incredible Facebook group there called SAS Alliance and lots of people join into that but even so, when people pose questions, you know, you get people who don't know enough giving an opinion and We call them sound bites. And you just have to be careful not to take action based on sound bites. So again, in all worlds, particularly, the more complex, the more important it is to find somebody that you trust and take time, you know, there's no reason why you need to rush into something and the people who are the loudest in the marketing are not necessarily the most natural fit. So you know, but do look and, and get look at reviews. You know, there's so many but Chris, you just mentioned trustpilot reviews, right? So there's lots of review systems that people can see what the whoever's buying some support, you know, what are they feeling about the group and, you know, there's just lots of good stories around, look out for those and, and just sprinkle a little bit of seasoning on there. And recognise there's some bad things around as well. So that's why we're pleased we have our group and we've got incredible reviews in our group and we're delighted that we continue to get those so If anybody's interested in the future, Chris, we should be opening up again. Another programme around about September. So manana.
Christian Rodwell 21:08
Yes, that's right. We will and we'll obviously be letting everybody know certainly those people who are already on the waitlist for the seven steps to our programme and if you're interested in perhaps finding out more about that programme, then head on over to wealth builders.co.uk forward slash seven steps to wealth and that's the word seven. All all lowercase together. So whilst we're talking about reviews, I think we've hit another milestone Kevin on iTunes this week, because we now 55 star ratings and we don't have any four star three star so let's hope we're not jinxing it here but 54 ratings so thank you to everyone who's been on there and and given us reviews and, and the latest review on iTunes is from Howard, who says For me, the podcast is a great accompaniment to my lockdown morning walk. I've started taking a notebook of labour As each episode is full of numerous nuggets, the key is implementing them which I am in the process of doing with clarity, thanks to both Kevin and Chris for putting over the methods of achieving financial freedom in a very easy to understand and simple way.
Unknown Speaker 22:14
That's nice. And you know, we are determined to do that. And he's absolutely right, isn't he that, you know, you've got to implement things. So that's why the wheel is so important. You know, yes, you spend some time in education. But unless you implement them, you take action, and you have to go through that process of, you know, we believe actually finding the support and making great connections. So she talks about connections, Chris, I say that. I mean, to me the value of connections is it's the most enjoyable part of the wealth building process. You heard Danny Wade mentioned it, about the collaboration between people, you know, so to me, what I love about wealth building is it's a it's an enjoyable experience. It's not a DIY experience. I've mentioned that before. Very expensive words. Do yourself. It's better to do it with others to collaborate with others, I don't mean collaborate with your money, necessarily, but to share and to be part of that sharing. And what I love about the connections is, first of all, you know, wherever you are on your journey, somebody else is always ahead of you and somebody else is always behind you. What we love to do in terms of the thought of connections, is to help connect you to somebody who's been there and learned lessons in the pillar or the strategy that you're wishing to engage in to turn your own wheel. And they've turned wheels ahead of you. And in our community, at least, there's an open book as part of their subscription into the concept of wealth builders. It's that declaration of independence that says, we'll share with people and we we almost have a vision of anyone who's wealth building Chris to have an arm stretched in front of them, reaching out to be helped And an arm stretched behind them to reach out and help somebody else. And that's the very essence of the culture. Isn't it behind web builders?
Christian Rodwell 24:07
Mm hmm. Yeah, most definitely.
Unknown Speaker 24:09
Yeah. So what I like about that, then is if you can connect with someone who's ahead of you, then they've already had the education. And they can show you not the academics, but how they brought that education to life in their own wealth building way. So you can see what they've done. And then by meeting them connecting to them in a real way, you can look at actually what needs to be done to take those nuggets and build them into something of value. And then that will help you discover is that still the right pathway for you? So it can do two things it can seller accelerate you massively. If you're already on the path and you discover somebody else and go, Wow, I didn't realise how, how good this was, and you can follow all their lessons, not just academically, as I said, Chris, but the practical aspects. And then all the connections that they built to the team that they built around them, you know, because that's another part of support, isn't it. So whatever strategy you're engaged in, you'll need some help along the way. If you improperly only build as you need lawyers, and so on, and every strategy, there'll be somebody else in support as you move forward into action. The other aspect to that is it stops you from making mistakes, it will prevent you from going backwards. And momentum is everything moving forwards, moving forwards with the wheel, never going backwards. It's almost like if you imagine your cars moving forward, and all of a sudden by accident, if you just stuck your car in reverse, you can imagine the noise and the gears clanking in there, and the whole thing and it can break the engine completely. And where we've seen people make mistakes, where they go from education straight to action, and they bypass support or bypass connections and certainly, there's a temptation for many to buy past the due diligence stage, we won't talk about due diligence today, maybe we'll pick that up on another episode, Chris. But the due diligence stage, if you bypass those, there's a danger of crunching those gears, locking up. And going backwards in my experience is when people go backwards, it kind of damages not just like an engine would be damaged, it damages their decision making for life. So it's important really, really important that small steps moving forward are much better than big steps that will send you going backwards, because you didn't follow the process properly. So that's what connections do it should be faster, safer and more enjoyable, to build wealth that way, than any other system I've ever seen. So that's why I'm delighted to be kind of leading the thought process here, Chris and delighted to connect with anybody who's out there, who's got something that they want to bring to help other people build their wealth. faster, safer and more enjoyable.
Christian Rodwell 27:03
Yeah, yeah. And we saw the excitement last week when we announced the buddy groups to our members. And that's what prompted us to, to really plug in again to the importance of support and connection, not just for our members, but for every one of our listeners who is really focused on building their wealth. So hopefully, that's been an enjoyable episode today. And a reminder to look around you who's your network? Who do you have in support at the moment and if you feel that that's lacking or you'd like some more than why not join our Facebook group, the wealth builds community, which can be found at wealth builders co.uk forward slash Facebook, and somebody else out
Unknown Speaker 27:38
there looking to build their wealth to you know, to find a buddy of your own if, if studying with us doesn't work for you, for whatever reason, but there will be somebody else so you know, where did you Where were you? What was your journey? Were you in employment and you were trying to escape that rat race to get out? Well, is there somebody else in the same position, you know, you got a family member who's in a similar position? Who do you know who's on the same pathway as you and then you can at least find that support to cut through the clutter of the daily tuning of the routine of trading time for money and find somebody else who can least hold you to account and you can hold somebody else to a camera, couldn't put it better myself. That's why that's why I'm in this role.
Christian Rodwell 28:24
Alright, it's been good. Good speaking today. Today, Kevin, and we'll catch up with everyone again on the next episode of wealth talk. Okay, see ya.
Unknown Speaker 28:35
We hope you enjoy today's episode. Don't forget that we are constantly updating our resources inside the wealth builders membership site to help you create, build and protect your wealth. Head over to wealth builders co.uk slash membership right now for free access. That's wealth builders.co.uk slash membership.