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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  

While Welcome to Episode 156 of wealth talk, my name is Christian Rodwell, the membership director of wealth builders. And I'm joined today by our founder, Mr. Kevin Whelan. Hello, Kevin.

Unknown Speaker  0:28  

Chris, always good to be with you. Yeah,

Christian Rodwell  0:31  

I know. It's good to be with our members. And today brings us another member spotlight. And it's Helen Crabtree. And Helen joined with her husband, David, just about a couple of years ago, actually, certainly during the pandemic. And yeah, we're hearing about her husband's business today.

Unknown Speaker  0:46  

But if I recall, it wasn't Helen, who joined the programme? Well, actually, yeah, it

Christian Rodwell  0:49  

was David, I remember on the phone, David in the city working long hours really, really quite unhappy with that lifestyle. And yeah, you know, David joined, Helen quickly jumped on the coaching calls. And, you know, before we knew it, Helen was building a business of her own.

Unknown Speaker  1:04  

Right? Well, I mean, that's good, isn't it, because when you know that, for example, the wealth builder programme is a family programme. It's not one person joins, it is available for husband and wife or another partner. And often we will see that someone is motivated, they've got a real strong reason why, like, in this case, David to escape that rat race to break free of the tyranny of the routine of the nine to five. And then the spouse gets involved with lots of Dynamo, as I'm sure we'll hear, when we talk about wealth dynamics, Chris, because I know she talks about that takes over in some respects, at least for herself anyway. And then it turns out to be quite a nice combination, and an elegant team that discovers the differences, and then harnesses those differences well, and said, and what some people do in wealth is they dwell on the differences, instead of harnessing them, so all will be revealed in an hour,

Christian Rodwell  2:08  

it will. And as usual, on our spotlight, what we do is kind of take a walk through our nine step recurring revenue roadmap, which is the process that we teach our members who join us in the wealth builders Academy to move from a place of financial insecurity through to security and then on to independence. And that's a journey, we know, from start to finish, you know, takes approximately five years, Kevin, so you know, first one or two years is always the early stages is just testing those ideas, turning a few wheels, as we say, in the wealth builders world, and, you know, just finding the right path. And then year two, year three really is where the momentum builds

Unknown Speaker  2:42  

up. Absolutely right question. And I think as Dan Hill said, in the podcast we did previously, you know, success, and failure is predictable. And we know that if people follow our roadmap, success is predictable. And if they try and break it, try and cheat the wheel, do things that will pull them apart in different directions, rather than keeping that energy focus and that momentum going, then in usually will fail that. But good to see that Alan and David, are not failing the process. They're following the process there. We're pleased to see that they're doing that doing really, really well. And probably a good idea to stop talking about let's listen to it.

Christian Rodwell  3:27  

Okay. Let's have a listen to Helen story. Hello, and welcome to wealth talk today.

Unknown Speaker  3:32  

Hi, lovely to see you, Christian.

Christian Rodwell  3:34  

Yeah, good to have you on Helen, and looking forward to hearing your journey since joining wealth builders. And we're going to be focusing on your business today, which you've set up and probably nearly two years ago now. So we'll hear the steps that you've taken along the way. And you first joined. So if we start with the beginning, like where it all began, what was the kind of catalyst? I believe it was you and your husband, or maybe Daveed actually husband who initially took that first step, and I remember having a chat with him. So why don't you just tell us what that early days was? Yeah,

Unknown Speaker  4:06  

of course. So I'm a teacher. And that was the head of department. But we've been very happy with that and hadn't really thought too much about much. I was I had little businesses on the side. And I've always been involved in things. But my husband David worked in the city, he was in investment banking. And he was the main earner but he was increasingly unhappy because he was working huge hours and wasn't with us. And it was put a real strain on us. And he was keen to find a way out whilst we could maintain the life that we were used to and obviously not lose our house and things like that. So he started exploring and investigating different opportunities and different sorts of schemes resources, did a lot of research and he honed in on wealth builders. So I chose that and when he told me about it, I became quite intrigued and the idea would have, okay, well I could do something new. I've been in the same position for a while, I'd quite like a bit of an adventure. And so we started on the wealth builders journey.

Christian Rodwell  5:05  

Yeah, yeah. And I always do remember, because obviously, as I say, as I was speaking to David, and then you just got really, really, like, involved and you were like driving the, the the ideas. And obviously, one of the first things we do when new members join is take the wealth dynamics assessment. So you took that assessment, Helen, and what was your profile?

Unknown Speaker  5:27  

Well, it was very funny, actually, I think it taught us both a lot about ourselves. So I found out that I was a creator, or creative, I remember what the wording is. And it fits very much. Because I tend to have a lot of ideas. And I like to start things. So I've had different businesses along the way, I've sort of done tap past classes, I've done dating things for people, but I tend to get bored quite quickly. And so I think it was really good to learn about myself. And to see what I would need to keep things sustained in order sort of, to grow businesses, rather than just start them. W on the other hand, was a lot, which fit very much. And it made a lot of sense why in business, we didn't really understand each other, because he needs to know everything, he used to have planned out every single step to sort of the nth degree before he's ready to go, was I've lost interest by that point. So it was it was really nice to sort of see those two profiles and to understand each other a bit more and see how we could help each other. And also when we needed to sort of say, Okay, we need to back off and let the other person do their thing. And that led us actually does decide that we should do different businesses and help each other. That's right, rather than sort of clashing heads and trying to work together, which was positive, I think,

Christian Rodwell  6:43  

yeah, and we'll come on to the pillars, obviously. But I know David's been focusing on property and you were focusing on business. And there's been a few other pillars that that you've utilised along the way since there. But before we get to that, let's just kind of look at the foundational those early steps that we have in the roadmap, which include just reviewing what you've currently got coming in and out of your life at the moment, and making sure that you've got a firm and secure roof in place as well. So tell us about some of the steps that you took there, Helen and what you've changed.

Unknown Speaker  7:14  

Okay, so first of all, we just sort of did a bit of like an appraisal of where we were, what money was coming in what money was going out. There wasn't a huge amount that we could tighten our belts on. When we took this step for Daveed, leaving the city which I'll come on to, we did tighten our belts sort of luxuries went away for a little while. But in terms of bills, we were doing quite well. But what we did realise is that we could use our house to generate more income, as suggested in wealth builders. So we now rent out the shed to a couple of people is quite big shed we have for storage, we rent out the the patio for a little while we rented out a room at the top of the house. But now we prefer to have our family privacy. So we use the house as a source of income. And then we also had a little look at the property that we have in Spain and how to increase the money that that brings in so we sort of extended the the months it was available to and looked at different avenues for advertising. And we will just increase the prices a little bit as we've got more reviews and we will look getting more known in the market.

Christian Rodwell  8:26  

Yeah, yeah. So step two debates is all about uncovering hidden money already in your life. So as you say you already had these, these things, but they just weren't maximised or optimised. And so you took those steps, which was great, and started to bring in some additional income. And then what about the roof? What what things did you learn about there?

Unknown Speaker  8:43  

Well, so with that, we I think we were probably slower than we should have been, because we were juggling a lot of things. But we started off pretty soon having conversations with some solicitors that you guys had recommended to us. And so we now have in place, the wills, the power of attorney and we've set up a trust so that our children will be cared for in the event of emergencies. And then then they'll have that when when they're older.

Christian Rodwell  9:11  

Yeah. And you mentioned the children there, Helen, obviously, you know, you and David working hard now to create a better lifestyle for yourselves with more freedom more time. But, you know, looking forward, the legacy aspects, you know, building wealth, something important, obviously, in terms of the whole family.

Unknown Speaker  9:27  

I think it is really, really important to us, because life is much harder, I think well will be much harder to for them to buy houses and things and it was for our generation. But at the same time, David and I are both very keen that they can stand on their own two feet. So we want to have a legacy that's for them, but we want them to be able to prove themselves first, I think is where we stand on that.

Christian Rodwell  9:49  

Yeah, yeah. And nothing better than really kind of, you know, getting that education yourself and being able to pass that on to them. So yeah, good skills. And of course, we've got the families programme coming soon as well. Also, yes,

Unknown Speaker  10:01  

that's funny because Oliver started little business she does baking and she sells her baking already. She's only nine. So

Christian Rodwell  10:08  

following her mother's footsteps there, yeah. Great. Okay, so foundation is in place the roof is in place giving you you know, that security, that peace of mind. Let's look at the assets then. So as we mentioned, you've set up a business, Helen. So tell us, what was the inspiration behind setting that business up and and tell us a bit about it.

Unknown Speaker  10:29  

Okay, so when we were sort of doing the wealth builders course, I remember one of the lessons that can't Kevin UD, but I remember Kevin, particularly saying that you need to sort of look at what's needed at the moment where there'll be gaps, and people are looking for things. And when we joined wealth builders, it was at the time that COVID was beginning to start. And there was a lot of, I probably should have said that I'm a teacher, and I've sort of run departments and things. And there are lots of children who were doing online learning, and they were just falling massively behind, or kids not paying attention or not understanding or poor quality lessons. And it came to me that there was going, there's always been a big demand for tutors, and it's been increasing, but that there would be in there, there is a demand for high quality tutors, who are qualified teachers who really, really know their stuff, because a lot of tutors can be quite substandard. And so I thought, well, if I can use the skills I've got from being a teacher and running departments and choosing staff to get these high quality tutors in, then this could be a business.

Christian Rodwell  11:38  

Yeah, so we're talking, we're talking about summer of 2020. around about that time.

Unknown Speaker  11:43  

Yeah. So that's when we started sort of first made the decision that that was the business I was going to do. And then I think things started in about September, October of that year.

Christian Rodwell  11:52  

Okay, so tell us what are some of the steps because for any strategy that you focus on, we've all got the process of turning the wheel of wealth. So that consists of obviously getting some education and some support connections to people that are already doing similar things. And tell us what were the first steps you took there about learning how to get that business up and running?

Unknown Speaker  12:12  

Well, first, there were there were two main first steps one, I think, came after a conversation with you. And it was sort of testing if the idea is viable if people are willing to pay for this service. So I started off just by word of mouth, saying to everybody that I knew this is what I'm thinking of doing, would they be interested, and I got a few customers. So from there, I could see that just just through a few conversations, that this looked viable. I then realised that I knew pretty much as zero about marketing, and about website. So I read a few books, one that really stood out to me was here for building a brand story.

Christian Rodwell  12:53  

Building your story brand. Yeah, Donald, one really, really good book really good.

Unknown Speaker  12:59  

In my own name of it, okay, so building, I read that. And then I sort of came up with a website design and wrote the text. And then I sort of used what you'd call personal leverage, I guess. And I made contact with an old friend who was in marketing and education, who I knew was good at websites. And we sort of paired up and he helped me to do the website. And from there, things are sort of just grown, but they were the first stage was learning how to build a website, basic marketing, some Facebook knowledge, and then just testing out the idea.

Christian Rodwell  13:33  

Yeah, yeah. And as you say, the first step is always validate, you know, get your first paying customer. And then, you know, start building from there. And, yeah, and you've got those quite quickly. So in terms of strategy, I guess it sounds like, you know, focusing online, I know, you were reaching out connecting with other groups in your area, where there were, you know, parents and, and yet bill at building things from there. So whilst you were doing that, obviously, David was was working on things as well. So the seven pillars that you can use to generate recurring income, you're obviously focusing on the business pillar there. What were some of the other pillars, we've got, obviously, your home, your pension, investments, property, business.

Unknown Speaker  14:16  

Okay. So David is sort of focusing on property, but he's sort of He's created a business around property whereby he's dealing with essentially two types of thing Commercial to Residential conversions, and then taking land and building on them. His background is in financial analysis. So he's very, very good at working out how much things will cost, how much you can pay, what profit you'll make. So he now is packaging deals for Commercial to Residential, very large scale projects. We've also started our SAS, so we've done all the paperwork for that in order to release our pensions. David is more are easy to release, some of mine can be released some not. It's a teacher's pension. And the plan is to put that into property.

Christian Rodwell  15:07  

Okay. And hope capacity as well. If you brought that into play

Unknown Speaker  15:12  

home capacity, meaning generating money from the home

Christian Rodwell  15:16  

and releasing, did you have you released? Sorry? Yeah,

Unknown Speaker  15:19  

sorry, I forgot about that. Yeah, we released equity on the house. I can't remember now exactly how much. But we released the maximum that we were allowed to do, because we bought our house eight years ago, and it's in London. So the value has gone up a lot. So we were allowed to do that.

Christian Rodwell  15:34  

Right. So again, and that'll be used mostly on building your property portfolio now expanding that, yes, yeah. Excellent. Okay. So yeah, lots of good examples to leverage there. You said relationship, leverage, really, of your connections, and certainly intellectual leverage your years of experience in the world of teaching there. So talking about focus, then, and obviously, you know, we have wealth coaches, and we have the support of the community, you mentioned at the beginning, being a creator difficult for you to kind of, you know, really focus on one idea without getting too distracted by new ideas. But, you know, for someone who's maybe in a similar boat, how important do you think it is to just, you know, focus on one thing and start seeing those results before moving on to something else,

Unknown Speaker  16:17  

I think it's really, really important. And I think it's, it's good to know early on that it will be challenging if you're a creator, like me to do that, because my tendency is to go and do something else. So I think what was really, really useful to me was the ideas in wealth builders about passive income, this idea that if you can get the business going and get other people's work to be generating the income, then in sort of a certain amount of time, you will be able to step back, but to accept that that's not something that will happen immediately. I think what was also really, really important was the idea of sort of outsourcing, and not doing everything yourself. So I think through you through Bronwyn, and through Ian, who was who was a coach of mine, for a while, I found a really excellent VA, I've used connections to get an SEO team in place. I've also got Facebook ads in place now. And I think it's really, really important if you're going to be able to grow the business and stick with it, to realise that you need other people's skills, and you can't do it all yourself. And if if you are somebody who tends to want to move on quickly, having these other people doing the jobs that you're not so keen on makes it more sustainable, because you can step back, but you can keep growing the business at the same time and overseeing it.

Christian Rodwell  17:37  

Yeah, yeah. And I think trusted connections is important as well, as you mentioned, you know, you're working with different people now. And it can be different knowing who's out there. There's so many people telling you that they can, you know, do good work for you. But hopefully, you know, the community has supported you there and given you good recommendations, which you're happy with. And, and in terms of results, then so obviously, you've been turning the wheel, you're generating income from your business. And let's look at kind of where you were couple of years ago, at the point you both joined, and where you're at now. So the nearly two years or so into the business hell and so. So yeah, let's talk about some numbers. What are you generating now in terms of income, okay,

Unknown Speaker  18:18  

so in terms of sort of income, I think my business brings through about six or 7000 pound comes into the bank, about two, two and a half 1000 of that is profit, because a lot of it is staffing. But it's now on a position where it's about 5050 passive income 5050 what I put in through my work. So the goal now I can see that it is it is possible to scale it up. I've got eight staff working for me now and about 25 hours of teaching. So now the plan is to scale up with the goal of being able to step back in a year or so and have that passive income coming

Christian Rodwell  18:59  

in. Yeah, no, that's fantastic achievement. And it's always harder at the beginning. Like we've everything it takes time to get the momentum going to build the confidence to kind of feel like as you say, you're on the right track. And then year, two year, three year when we start to see, you know, things really speed up. So that's brilliant, in terms of David, Where's David now in terms of, you know, he was in that rat race, as you say, when he joined? What's his situation?

Unknown Speaker  19:28  

So he left the city in November, we tightened our belts a little and my business was bringing in money at that point and more money than we'd had before through my side. So he left the city in November, and he started his business. He's much happier than he was he's secured. I think count of how many deals you secured a few deals. None of the cash has come in yet but the deals are secured. So it's a matter of a few weeks now, until he starts getting quite significant lump sums coming him.

Christian Rodwell  20:00  

Yeah, yeah. So, you know, again, that's fantastic. Because I remember, you know, he really wanted out he did want that, that, you know, independence. So, yeah, great results for you both. In terms of looking forward then Helen, you know, what, what do you see as being important to help you both keep on track now and to be able to hit your security and then eventually your independence figures?

Unknown Speaker  20:26  

I think I would find it hard. I think the next steps for me will be to increase my knowledge of marketing to do more online marketing to make more contacts and to find the right people to grow that way, and also to systemize. I think a lot of things that perhaps I'm doing manually need to be systemized I think to make more of automations to get them the banking systemized pay payments in and the things that other people that that my staff have worked are all automated. That's my next step in order that I can grow it and step back a little.

Christian Rodwell  21:05  

Yeah, yeah. So I think in in the two years, Helen, it's been great progress. Really, really pleased for you both and enjoying working with you, and wishing you all the best for the next year or two ahead.

Unknown Speaker  21:20  

Thank you. And I would just say to people, the beginning is really, really scary. You'll make mistakes, I'm still making mistakes, everybody is and you'll think it's all gonna go wrong. Try things except things will fail and just keep going and step by step. You'll get there. I hope we all will get

Christian Rodwell  21:35  

there. Great advice. Thanks for being a great guest today on wealth talk. Hello.

Unknown Speaker  21:38  

Thanks, Christian.

Christian Rodwell  21:41  

Okay, so really good to hear Helens progress there. We'll kind of dig into that in a bit more detail in just a moment, Kevin. Before we do. So, let's head over to Trustpilot. And have a look through our reviews this week. And I'm going to pull out one from Tony, who's left us a really lovely review. We know Tony well. And he says I would like to thank Kevin for the support in helping my wife and I weave the foundations of our business and vision to our future wealth planning over the last year, the information out there can be overwhelming, and Kevin helps us consolidate resources and a pathway with his guidance and reliable connections. This has been essential in creating the foundations to grow and protect our future wealth. Last, our main focus is property, the wealth builders concept of creating wealth through a diversity of recurring income assets. And he puts in brackets seven established and backed up pillars makes it the most holistic and comprehensive programme I've come across to date. And we've created our own company and the SAS wills and lasting power of attorneys and added another property to the portfolio. We've participated in a joint venture, and we're looking to start a new gateway business all within the last year. So thank you once again to Kevin and the team, Christian rich co Carol Robinson and the wealth builders community for the friendship and support.

Unknown Speaker  23:01  

Well, that's like a little novella. I think you should, I think we should watch that movie. You know, I mean, what Tony and his family have achieved in 12 months. Now, let's be clear about that, that they did engage with me personally, and just for anybody listening. There is the option it isn't something we promote an offer, particularly. But there are some people who either because they reach a certain stage in their life, there's a milestone, a new chapter, or the selling of a business coming out of the rat race. Some other reason that there's a very nice combination of financial leverage and time leverage. In other words, they've got an abundance of both. And then it makes sense, instead of having monthly coaching calls, really to have a more immersive wealth experience. And, and I'd like to do that and become a mentor for families and business owner families, mostly business owners, I have to say, because helping to create recurring income inside the business as well as outside. So it's a more it's a more of a challenging process than wealth created from financial assets that are held privately. But But Tony and his family embrace that. And, you know, I've had many meetings with, with him and his wife and the wider family, the two boys. And it's been a real real pleasure to be their guide and their mentor. And yesterday, you know, it was just as you described, just before the break there, Chris, you know, there's a small period where you've got to learn a lot before the momentum, and that's not unlike a business. We've heard Helen talk about your business. And I could share if you want to Chris, the seven stages of a business so that somebody started thinking about a business or has a business they can begin to put their own business into that context. Yeah, let's plays. Yeah, that's good. Yeah. Okay. So the first for most people anyway, once they determine they want to be an entrepreneur, and we believe that wealth comes from being an entrepreneur solving problems creating solutions. So the first is the idea, what's the problem? How do you solve that problem? And what's the impact of that problem? So I call up the idea stage. The next stage is to test the idea, you know, and who likes the idea? Does the idea carry some way of being able to deliver that idea consistently and profitably. And the best way to test that we found Chris, and we do this ourselves, always will be to test. So you create a workgroup, and we've got a brilliant community within wealth builders, for people to test their businesses and say, Well, who will help me test this idea out, to help me make sure that it's robust, it works, and there is a demand for it. And usually, you got you give the testers kind of free access, because you're seriously testing a business. And if that works, then you can move to the next stage, which is the startup, which is when you're really putting the infrastructure into the business to begin the trading. Now, assuming whether it's self employed, whether it's an LLP limited company, none of that's relevant at the start. It might be relevant at the end, certainly, but not at the start. And then it's into generating cash flow, stage four, seeing that there's money coming in, you know, an inheritance case, there was money coming in. And I think probably Helen would admit herself that there's money coming in. But she's still doing quite a bit of the work in the business. So the money, there's money being made, but there'll be squeezing on margins, and this sort of thing, if she's paying external coaches or tutors in her case. And that can be a challenge until you overcome that, which is then you Systemising

Unknown Speaker  27:04  

the process, you know, from there, so when you're Systemising, you're starting to turn that into more profit. So you're focused on profit, not just cash flow. And then the next stage after that is the scaling and systemization, where you're looking to work on that business, as everybody says, through you know, from the E Myth book, by Michael Gerber work on the business, not in the business. And that's the ultimate plan to be able to do that. So that you can create multiple exit strategies in the final stage of the business like a final stage in life, Chris is our exit strategy. And all the world's a stage and, you know, we need to choose our exit. And some of us exit left, like my dad who just died and didn't really leave a business. So the wealth wasn't created in the business, but many exit, right, and they can either sell their business to an acquirer, which ultimately gives the biggest premium, it gives the biggest value. And the more you've got recurring income and systemized business, the bigger the value, often seven, eight to 10 times more valuable than just a business that's turning over profit. And or you could sell it to the staff, you know, so there are ways you can create a long term plan to exit the business, sell it to the staff, and get money out tax free. So tax, you know, as an overlay to all of this, or you can pass it on to your family, because most businesses and I remember doing a presentation on this Chris at the biz X forum, speaking to 2000 business owners and less than 1% Chris, you know, we talk about 5% of people become financially independent 95% Don't 99% of businesses do not sell for more than a million. In other words, you know, 4 million quid is a benchmark for a reasonable business, and you put a million in the bank, when you sell it, most businesses don't sell at all. And those who do sell don't sell for anywhere near that. So consequently, wealth is got to be built for the most part, outside of the business first, inside of the business secretary. But I think Helen's on the right path, and David's on the right path. And while that was a very long answer to a very short question, I hope you get the idea.

Christian Rodwell  29:17  

Yeah, I'm still here. Don't worry, that was very elegant. I like that seven steps there. I think we can expand on that perhaps for our listeners and members, and create a kind of framework for people to follow there. So why don't we do though? Yeah. And you mentioned there just where you're at one of the ways to exit is, you know, perhaps selling to the team to the employees and we actually cover that on episode 103 of wealth talk. So that was all about employee ownership. Yeah, so I'll link to that in the show notes in case that's of interest to anyone who's listening. So that's yeah, let's you know, wind it back to the beginning I guess with Helen and we talked about her husband avid obviously, working long hours he was in the rat race Helens, a teacher So she's obviously working long hours as well, they've have a family. So like so many of our members, Kevin, you know, it's about how can people start breaking free of the time for money trap reliant on one source of income. And for both Helen and David, they were looking at different pillars. So Helen, obviously focusing on the business pillar, David had an interest in the property pillar. And, you know, we've talked about five types of leverage in our model. And our roadmap is Step five. And there's different types of leverage financial intellectual relationship, but with Helen, obviously, being a teacher, and spotting an opportunity during COVID, which is something Daniel Hill mentioned on last week's episode, you know, entrepreneurs, you know, really thrive when there's a bit of challenge out there, you know, because they spot these opportunities, and Helen absolutely did that. And she leverage leverage.

Unknown Speaker  30:49  

Yeah, that's a really good point, Chris. And I think there's, there are generally two points I'd make that one is business owners who are confident in what they do, they have this knowledge of their ability to be flexible and pragmatic in unusual circumstances, then they know they can change. They can pivot, they can switch gears, they can move fast, because they're receptive, they're tuned in to these changes. And what talents done, although she's not an established business owner, and very much hope she will be, she just spotted the opportunity. And the opportunity being you know, with COVID, with, with the pandemic, the lockdown, the impact on children's education, has been challenging. And therefore, to bolster that education through private tuition, smart move, very smart move. And I think we've got another member, new Morgan, who has really expanded hasn't been into the mental wellness of children in schools, you know, again, picking up on that challenge with what was going on when kids were in facemask kids, not being able to be with their friends, and so on. And he's doing a wonderful job. I just saw some posts from him, just in the last few days. So congratulations to new login. But this is the benefit of knowing a really robust framework about how to respond to opportunities. And Helen's done a great job in doing that.

Christian Rodwell  32:19  

Yeah, absolutely. And the benefit of obviously, being part of a community of like minded people who are supporting one another with with those efforts. So another thing again, that kind of a lot of a lot of parallels from last week's episode, Daniel Hill mentioned, creating a life by design. And I think Helen and David mentioned kind of referred to that at the beginning is having to tighten the belt a little bit, you know, there were certain things, they knew they were preparing for David to leave the corporate world, you know, that income stream wasn't going to be the same for a few months. So they had to look at, you know, what they were spending in their life, cut back on a few things. And sometimes you have to do that, right? You have to design what the next few months or the next year is going to look like. And it might be a little bit tricky, challenging at times.

Unknown Speaker  33:04  

It's important to stress though, Chris, you can't save your way to wealth. We don't have a programme that is called wealth. reducers is called wealth builders. And the reason for that is because you're position yourself to build wealth. Now, if you're going through dramatic change, and that was a double change going on in that family, wasn't it with both David and with Helen. And I think she mentioned tightening the belt, but I think tightening the belt is okay. It's a concept. Where I think for the most part, though, in the debits process, the process that we use, Chris, that kind of ruthlessly pulls apart someone's finances and a whole range of things from debt education, bills, insurance, tax and stock market fees. And we've done that many, many times. Now the debits process, it's often easy to find money that can help you tighten the belt because you're finding and discovering things and you're not just cutting things out. You're finding money that you can either redeploy or it makes it easy to move from insecurity to security, because the security place the first step if you live beyond insecurity, the first step on the journey to wealth is to get to security because security gives you the ability to claim back in time. Once you can achieve security the equivalent of whatever your lifestyle would be with a bite slightly tighten we call it a lockdown lifestyle. Chris, I think in previous podcasts, so you know, you're not gonna have everything but you know, it's temporary. It's not a permanent bite telling. penny pinching, scrimping on anything budgeting No, it's not that lifestyle at all. It's about taking a small step back to make a giant leap forward. And it's important distress that don't want anybody joining wealth builders thinking, Oh, I've got to do is tight, be frugal spend less than on, then I'm earning and I can invest the rest in the stock market that's not that's a slow path and a path of uncertainty with the stock market volatility. It's not a path I'm recommending to anybody. And that's of tradition. It's the path that's proliferated by the financial services industry, which wants to capture people on this long hold of money in stock market. Now, it's not about stock markets about you taking control. And you investing in your own stock, your personal stock, your intellectual stock, your relationship stock with your family members, as, as Helen and David have done remarkably well and so pleasing to hear that they spotted those differences in their work dynamic. Yes, you know, and I just loved the way she framed that. And we saw almost like as a celebration, once they discovered it, instead of because they saw it on a piece of paper and could see, we're different. But instead of that difference, pulling us apart, how can we make that difference come together as an accelerant. And I think they've done a great job, I was very pleased to hear that.

Christian Rodwell  36:13  

Yes. And obviously, congratulations to David as well, because throughout that period of time, he has now escaped the rat race, and he's doing what he loves every day. And we saw him just a couple of weeks ago, at the event in Brooklyn's we were at Good to see good to see him there. And, you know, he's using that financial analysis background now, to apply that to one of the entrepreneurial pillars, which is obviously the property portfolio pillar, and sourcing deals, helping other investors with, you know, with their with their property portfolio. So, you know, it's brilliant. And so often, people who do get stuck in a rut in a job, they kind of just want to get away from it. And they just forget about all those years of connections and experience and knowledge. But the key is definitely to not forget about it, that just to apply it to something where you have a bit more interest where you're more in control.

Unknown Speaker  37:03  

Yeah, it's an interesting one, Chris, I mean, often, when people who've had quite senior positions in like David did, in the world of you sort of corporate world, as I suppose, or indeed him, when we had somebody recently sold their business. And their identity, the very fabric of their being was, you know, I'm a city broker, whatever title and the MD of a, you know, X manufacturing company, and then all of a sudden, they don't have a title anymore. And in some respects, they can almost begin, mistakenly, I think, to believe they're renew be, you know, they're back to the very bottom, when in fact, they're not when they carry forward that intellectual leverage of what they did before in their business and careers. And try and find a way to bring that just as David Stone, as Helen has done, as I've done with my economics background, and you've done, it just shows that if you carry forward, I think, what was it, I think it was Daniel Priestley, who said, you're standing on a mountain of value, but you can't see it, because you're looking away. And it's right underneath you, because it's the very essence of who you are and what you've built up and the connections you've made over time. So definitely another good lesson. So thanks for bringing that up.

Christian Rodwell  38:23  

Yeah. So you know, Helen is definitely still building the business, but doing a great job, you know, generating two and a half 1000 pounds profit per month now. Now, some of her time is still going into that, as we mentioned, and sheep said for her, the key steps now moving forward, or to outsource more to systemize more those steps that you mentioned in that in that model earlier, Kevin. So, you know, congratulations to them both. They've been really great members of the wealth builders community. And, yeah, we look forward to seeing how things go in the next

Unknown Speaker  38:53  

year. Yeah. And you know, my final point about this is the value of the community. I mean, Tony, referred to that, although he worked directly with me, but he mentioned you mentioned, Carol, you mentioned the community. I think I was talking to a gentleman the other day, very smart guy, super smart guy called George. And John said to me, you know, I love what I do, but it's somehow quite isolating, you know, because he's making all the decisions in his business on his own. And while he's got a team around him, he's not discussing his wealth with his team, not discussing his wealth with the staff, you know, so I think there's a value in seeking out a community of like minded communities due to a trusted community, a holistic community. And as Tony elegantly said, you know, we are as far as I know it, Chris, and I'd love for anybody to tell me differently, the only completely holistic Centre of Excellence when it comes to building wealth. So whatever you want to do in wealth, whatever pill You choose whichever way you see yourself designing that, yes be open to other ways too. But I think we've managed to find or we continue to find and curate the best quality thought leaders, educators, teachers, suppliers and connectors around to try and build a really, really strong community for people to, to can envelop them to feel like they're not going to make a mistake. They're not going to be pushed or pulled in a direction for anybody self interest. And I think that should be coming out by episode 156. Chris, wealth talk, that we do an outstanding job in that and I'm blowing that trumpet. Because I was so you know, weld with Johnny's comment.

Christian Rodwell  40:45  

Yeah. So if you you know, are interested to find out a bit more about our community wealth builders Academy, you know, that process that helps you to move from places of financial insecurity through to independence, then head to wealth builders.co.uk For slash Academy, you can have a read, you can see everything that we do there all of our coaches that are involved in supporting our members and you know, book a call, have a chat with very informal, we want to get to know you want to make sure it's the right fit for both of us. The floor will take any further steps.

Unknown Speaker  41:13  

Cool. All right. Good. I

Christian Rodwell  41:15  

hope you enjoyed listening to today's episode. Thanks for being with us. Once again, Kevin. We will catch up Same time, same place next week.

Unknown Speaker  41:22  

I look forward to that as well Chris, and until then my friend See ya.

Unknown Speaker  41:29  

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/membership right now for free access. That's wealth builders.co.uk/membership

Transcribed by https://otter.ai

Episode summary

Helen shares her journey after joining WealthBuilders when her husband David became disillusioned with his job as an investment banker working in the City due to long hours and spending too long away from his family.

Tune in to hear the first steps Helen took when starting her business, GCSE masterclass, a private tuition service using her experience as a teacher to spot a gap in the market. Helen also discusses how she used her property to create additional recurring income, maximising her income and enabling a better lifestyle with more freedom and time for her family.

Episode notes

Helen shares her journey after joining WealthBuilders when her husband David became disillusioned with his job as an investment banker working in the City due to long hours and spending too long away from his family.  

Tune in to hear the first steps Helen took when starting her business, GCSE masterclass, a private tuition service using her experience as a teacher to spot a gap in the market. Helen also discusses how she used her property to create additional recurring income, maximising her income and enabling a better lifestyle with more freedom and time for her family.

Resources mentioned in this episode