Chasing Financial Freedom
Chasing Financial Freedom
Ep 307 | 5 Proven Strategies to Turn Entrepreneurial Challenges into Sustainable Success
What happens when a former US Marine, champion boxer, black belt, and internationally celebrated steel sculptor decides to reshape the entrepreneurial landscape? Meet Richard Walsh, CEO of Sharpen the Spear Coaching, who shares his journey from the brink of business collapse to becoming a successful coach. Richard brings 35 years of rich business experience, recounting how the 2008 financial crisis led him to reevaluate his priorities and pivot from a flourishing landscaping enterprise to a fulfilling career in personal training. His tale is one of resilience, value realignment, and the unwavering importance of family, proving that personal values can indeed drive professional success.
Have you ever wondered how to juggle immediate business needs with long-term aspirations? Richard Walsh unveils the secret: time management. Through the art of strategic time blocking and a clear exit strategy, Richard explains how entrepreneurs can maintain a laser-like focus on their business vision while deftly navigating distractions. His insights emphasize the peril of building on uncertain foundations and the vital balance between immediate sales and thoughtful planning. By mastering these techniques, listeners will learn how to resist the urge to respond to every ping of their phones and stay committed to what truly advances their business.
Success isn't a solo sport, and Richard underscores the importance of discipline and seeking support on the entrepreneurial journey. From technology boundaries that boost productivity to the myths of overnight success, Richard provides a reality check on building a robust business foundation. He stresses the need for a supportive team and prioritizing profit over gross revenue, sharing invaluable guidance for those eager to achieve sustainable growth. Join us as we unravel the strategies behind Richard's success, offering lessons every entrepreneur can apply.
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Hey guys, ryan DeMint from Chasing Financial Freedom Podcast. Hope you guys are having a great day. Today on the podcast we have Richard Walsh. Richard is the CEO of Sharpen the sorry Sharpen the Spear Coaching honing entrepreneurial warriors on the battlefield of business. I need more coffee this morning. Richard, welcome to the show.
Speaker 2:It's okay. Thanks, Ryan, Great to be here.
Speaker 1:You're more than welcome. Thank you for waiting. I know it was a little bit of a wait, but glad to have you on.
Speaker 2:Yeah, it's great to be here. I'm always ready to go. So, just ring the bell and we'll get started.
Speaker 1:So before we talk about what you're doing in the coaching space, can you give the listeners a little bit of who you are and your background?
Speaker 2:You bet. So I've been in business probably 35 years now, so I got a little bit of time under my belt. Best-selling author, again in business over 35 years. I'm a US Marine, I'm a champion boxer, I'm a black belt, I'm an internationally recognized steel sculptor, podcast host, husband, father of six. Yeah, there's a few things.
Speaker 1:Six Wow yeah.
Speaker 2:I'm guessing they're all grown up, they're. I got one who's 20. He's in the Marine Corps now. I have two 19s, two 18s and a 17-year-old, so almost done.
Speaker 1:Almost finished. First of all, thank you for your service. I know some people say it, but my dad served in the Army and I understand the sacrifices you make. So thank you, You're welcome.
Speaker 2:My privilege was my privilege.
Speaker 1:How many years did you do in the Marine Corps? Four years, okay, so I'm going to jump right in and go. What got you into the coaching space? What started this whole venture of 35 years?
Speaker 2:Yeah, back in the day when I came out of the Marine Corps, I had to work, right, so I got a job. I needed a pickaxe. So, yes, you do have to work. Surprise, some people take a little too much time off. But yeah, I got working for my $5 an hour, swinging a pickaxe all day, digging trench for cable. And, luckily for me, someone asked me to do a side gig. He says, hey, man, can you move? I've got this pile of granite like crushed granite that's down in Tucson, arizona. He said take it from the street to the backyard, spread it and all that. Use that instead of grass. I said I can do that, I work every day. So I spent my last $85 before payday on a shovel and a wheelbarrow Showed up on Saturday, shoveled 35 tons of granite and brought it to the back and about a hundred degrees got that done.
Speaker 2:But the best part, ryan, the guy came out, put a thousand bucks in my hand. Can't go wrong with that. I did the same thing the day before for 50 bucks. I'm like I know my future. That's when I learned my future was to work for myself. I'm going to get all the money and started that.
Speaker 2:So I started a landscape business. That turned into a custom water feature business. So ponds, waterfalls, streams, did that Started incorporating custom steel sculpture. Now I'm one of the best in the nation. I'm doing internet world-class exhibits with my steel and stone and all that stuff. And that was going great for about 20 years.
Speaker 2:And then 08, 09 hit. Let's say the economy was constricted, right, no one had to have a water feature Okay, no one. It wasn't a must have. They wanted like food and maybe a home would be nice. So that really hurt my business. I really hurt my business.
Speaker 2:But that just was the final nail that really took me out. So I lost my business, my home we had to relocate, sold everything. I decided I just didn't want to be, I wasn't going to do that anymore. So I had done this for 20 years and the best of what I did I was always chasing the next thing, the next award, the next committee I was on. I was doing all this great stuff. I thought being out front, not paying attention to my business, being the star and not doing that, that's what really caused the collapse.
Speaker 2:But at the same time, ryan, I woke up one morning with this epiphany that I've got these six little kids, now four years and younger, and they just love to see me when I come home at night they love me, and when I leave, one day my four-year-old was chasing my truck out the driveway, crying because I'm leaving, and I'm thinking man, what am I doing? I said if I stay on this path of business first, that's everything. I said. My kids are going to see that and I really truly believe more is caught than taught when it comes to kids. I said they're going to have broken marriages, failed relationships. Right, they might be good at business, but in general, like I'm going to ruin their futures. So I literally got up. I went in the office, shut the whole operation down and we were going to collapse the next three to six months anyways and maybe I could have saved.
Speaker 2:I did a bunch of things trying that weren't working, but I'm like I'm not going to do that to my kids. So I didn't know what I was going to do. But I shut it down, went to my yard, told all my guys my construction guy hey, we're not doing the same more, we're going to wrap it up this week. And they'd been with me over 10 years themselves. We were like family. So it was a tough decision but I really had to make that move. So that's what kind of launched me forward to start over. I had to start over because I had nothing Started working out.
Speaker 2:I was a big workout guy, started training at Anytime Fitness. I built a personal trainer program there, next home trainer of the year at that place. So I'm like, oh, so I'm an entrepreneur, so that means I got to go open a gym. So I went open my own bootcamp style training, had a gym grew that got into a construction business. After that scaled that. It was really great. But I did it right. This time I did it right where I had others doing the work instead of me doing everything. Changed that. So I got good at that right. So I'm doing these businesses and this is where it comes into. People start asking me how'd you do that? How'd you go from being way up all the way rock bottom, lose everything, and now you're back up on top again. So I started helping people in the mentor position, just showing guys what to do and, of course, again back to the entrepreneurial mindset mentors are free coaches get paid, okay.
Speaker 2:So I'm like I think I need to be a coach. So I wrote a book. I wrote a bestselling book called Escape the Owner Prison. It's the contractions that lead to scale regain, control and fast-track growth while loving life. So that came out, became a bestseller. I built an academy around that, started coaching people and went through a couple iterations and now we're here at Sharpened Spirit Coaching and I love it and that's how we got to where we're at.
Speaker 1:Wow, there's a lot in there to unpack, so you've got me odd. Those are great. It's a great story to hear that you went from the top to the bottom and all the way back up to the top again. Before we get into I've got a ton of questions, but before we get into that I got to say one. If anybody decided to continue to listen after by this point and they're like I'm done, I don't want to listen to this episode what would you leave them off with three nuggets If they were going to jump off.
Speaker 2:Okay, get help. I didn't get any help for 20 years. Get help, okay. Second thing create an exit strategy. If you want to know what that really means, you probably should stay on the episode, but you can go. If you have to go, all right. Third thing I'm going to say learn what your 5% is. Your 5% is the 5% of the business. Only you can do, because that's all you should be focused on if you're truly running a good business.
Speaker 1:And being a entrepreneur myself, I can relate to all of those and the struggles with those and so forth.
Speaker 1:I would say when I got into this 10, 12 years ago full-time, because podcasting is a passion, side hustle, day job is we're an affordable housing developer, workforce, housing whatever you want to call it and a lender I didn't know what I was getting into in the space and how competitively or how competitive the space is and how much it's dominated by nonprofits. I'm a for-profit and had no clue I was getting into. And if you would have asked me back then if I should have started a nonprofit with my for-profit, I would have said hell, no. Ask me two years ago. I would have said hell, yeah. And now we've got a nonprofit that I can compete on some of these gigs with, now that I'm not having to worry about the additional expense not expenses, but the bottom line when it comes to capital, because the capital is raised from public funds which I don't have an ROI on other than to build. So it was a total game changer. But it took almost seven, eight years for me to realize that.
Speaker 2:Yeah, we get stuck in our yeah, we get stuck in our lanes. I was the same thing. I mean, julian, I'm the best at what I do. I wasn't listening to anybody and I had a billionaire client trying to give me advice. What does he know about? What does he know about building water features? The guy's got manufacturing plants, he owns professional sports teams and he's just likes me. And that's how thick I was, but that's the jarhead in me. You know what I mean. It's just I'll do it all myself.
Speaker 2:It took twice as long as twice as hard me. You know what I mean. It's just I'll do it all myself. It took twice as long, twice as hard. I made it right. Then I didn't make it and if I would have listened to them, I'd probably still be doing this stuff, or someone else would be doing this stuff and I'd be reaping the rewards. So, yeah, I totally get it. Man, sometimes we've got such blinders on in our business and that's why when I say, ask for help, you need the outside eyes, because you can come into someone now in the for-profit space, the same thing and just and give them 10 things like in 10 minutes, right and just, and they'll go. Well, what are you talking about he goes yeah, this is. You keep doing this. What's going to happen, this is going to happen, this is going to happen, and then you're going to be broke, and then that's what I do.
Speaker 1:We can see things, because we've got the experience and we bring that to the table the I I know I had this mindset and I've grown out of it, but it was a real big struggle in the beginning was if I was going to get a, as you say, a mentor or a coach. We'll talk coach cost money. If you're starting up and you're a solopreneur or whatever and you don't have that additional capital, how do we work through that as entrepreneurs? Because I'm sure there's plenty listening saying I'm a solopreneur and I'm or it's a side hustle and I don't have the extra capital. I know I've got my answer, but I'd love to hear yours. Yeah, so you?
Speaker 2:know I've got my answer, but I'd love to hear yours, yeah. So now remember, I've been doing this 35 years. There were no coaches back then. There was no internet.
Speaker 1:Yeah, okay.
Speaker 2:So we weren't just so. To say you don't have a way today is inexcusable. You can get online startup courses. You can go into accelerators, you can. There's a million things you can do from a startup standpoint as a solopreneur. So there's really no excuse except research. Right, do a little research. You can find a lot of free ways to at least enlist in the podcast, like this Get into the stuff you need to educate yourself and apply things. But you can't listen just about the fairy tales. Okay, you got to have real world stuff, right Stuff that you can actually apply to your business with the different levels in your business. So there's a lot of application that needs to be done. And if you look, you're going to find different coaches at different levels. Right, there's no one coach for everybody. So you can find coaches who deal specifically with the startup realm right, you find them because they understand where you're at, they understand the cost and they develop group programs and things like that, so you can actually be a part of it and continue to learn very inexpensively.
Speaker 2:I do a startup program. It's all automated video, the whole thing. It's a hundred bucks a month and it'll give you everything you need to know from start all the way through the first couple of years. So it's and that's a hundred bucks a month. And I'm just going to say, if you can't afford a hundred bucks a month, maybe keep your main gig, yeah, okay. And then I you know what I mean Like stop the side hustle because you've got to have some priorities and shift a little something. But you'll be okay, you can do it.
Speaker 1:In the 35 years you've been doing this, what would you say the biggest mistake entrepreneurs have made while they've been working with you?
Speaker 2:I think two things. One I think they don't have an exit strategy. That's probably the biggest mistake and I want them to have it before they launch their business. And no one thinks that way. Okay, nobody does. They don't understand what it is. They think an exit strategy is just how much I'm going to get for my business, like they think that's their strategy. They don't put time to it or anything else. Right, there's way more to it. We don't have time to go through, but I can walk through all the points.
Speaker 2:It does become your greatest business filter. If you do it right, you can make, you can run all your decisions through that exit strategy and keep you on track of the main thing and get out in five years, 10 years, whatever you set, with the money you truly want. You build a business that someone truly wants to buy so you can get that number. You can build passive income right through allocating assets. You can do a lot of things because you plan for the exit and still build your business. You don't get distracted by shiny objects, stuff like that, because it all has to run through the exit strategy. If it gets you closer or faster to it, it's a go. If it detracts from it. It's a hard no. So that's one of the biggest mistakes, right, that's one of the biggest mistakes right there.
Speaker 2:I think when people are doing that, the other thing is not having the true vision of their business. I'm talking about who, how and why they serve their customers Truly, knowing what that means and what it all looks like inside your company. They don't build that kind of stuff out, what they're going to build in the next 18 to 24 months at a time. They don't have time for a vision because I get it they're all trying to make sales and make some income and keep things going and move the ball forward, but without that foundational vision they had nothing to build on. So you're building a house on the proverbial sand, right, and the first thing that comes along, they'll knock it down, it'll knock it down.
Speaker 1:So how would an entrepreneur balance that? Because that's a struggle, that's a real struggle. I struggled with it too. And you're out there, you're beating the pavement to make sure that you're bringing the money in, but also, at the same time, there's got to be a give and take also and grind okay, which is not a good culture to be in.
Speaker 2:You're not going to succeed by that. You're going to destroy yourself. You're going to destroy your family and everything else. So it's not work more, okay. You always hear work smarter, not harder, and all those cool cliches and everything else. But you do have to put a plan. You have to be very productive with your time, not busy.
Speaker 2:I use the rocking horse as the thing, right? You don't want to confuse motion and progress. A rocking horse stays in motion, doesn't make any progress. You don't want to be a motion guy, you want to be a progress person. And then you have to be very deliberate in that. And the problem when you're hustling so hard and I get it, I call it ignorance on fire. You're just going right. You're just going because you got to make this, you got to make this, you got to make payroll, you got to do this, got to do that. But you also have to block out that time to take that vision time when you're going to actually go up to 10,000 feet to look at your business. You do it monthly and do it quarterly. What are you going to do? I prefer every couple of weeks for looking at that, but people have to be able to come back to that so they understand. You're the captain of the ship. You got to know where you're going. I don't have that plan. How do I know where I'm going?
Speaker 1:Yeah, and it's for a good, substantial time. I struggled with time blocking and I don't know if you're a fan or not, but I use my mornings, for the first two to three hours is just quiet to where I'm time blocked. I'm not taking phone calls, I'm not taking text messages and I'm just focusing on items that are, I call, income producing for the business. And I know that. I don't know if it's the 5% like you referred to. I think it's in my top 10% because there are some things that I shouldn't be doing, but there is some training that I have to still do with this individual that I need to step up my game on. So that's one thing that's lacking. But until I started doing time blocking and being able to focus, I truly was just working in the business and not actually focusing on that 10,000 foot view, because it's a struggle every single day to keep your head above water.
Speaker 2:Yeah, it's a tactical versus a strategic right. Tactical is the fire that right now A problem. Someone comes in your office with a problem and you got to go put it out. The problem is that thing flares up again in three weeks, four weeks, because you never built a system that solves it from coming up in the first place. So we call them anchor activities.
Speaker 2:So you actually have non-negotiable time block, like you're talking about. Like that might be seven to 7.30 every morning, 30 minutes, and that's the time you spend looking at whatever or you're being creative during that time or whatever it is. So I'm a fan of that. You really have to find what works for you the best, but you have to create non-negotiables. If we're going to have this meeting, we're going to do it every Thursday at 10 o'clock. It's every Thursday at 10 o'clock, no exceptions, not because the tactical thing comes oh, I can't do it because this guy needs me. No one needs you that bad. Okay, that an hour of your day can be taken Like and if it is, you really got problems. Let's fix that.
Speaker 1:Yeah, it's that FOMO and I struggle. I still struggle with it sometimes to where I see a phone call and I'm doing something else or I should be focused. I just I have to tune it out because of the fear of missing out. They can leave me a message, I can call them back, whatever the case is. But the struggle with if you don't answer the phone or you don't respond to that text message is problematic because it distracts you from those critical tasks that you should be focused on during that time. And if anybody takes anything away from this, I was a huge. I couldn't fathom blocking out my calendar for the longest time, and now I do. And if I don't have it on there, I feel like I'm lost and I'm wasting time. So I book it out four to six weeks in advance just to make sure that's there. It doesn't matter what's going on, it's on there.
Speaker 2:Yeah, here's the thing. If you want to think about everybody, you should have no unaccounted for time.
Speaker 1:Yeah, that's true.
Speaker 2:No, if it's unaccounted and that goes for everyone who works for you they don't have an empty space. That's not catch up time. That's look at my phone time. That's what they play around being a one-handed worker On social media?
Speaker 1:yes.
Speaker 2:So another thing, a quick study just the dinging of a text. If you're in deep work and you're focused working, just a ding. I'm not talking about reading the message, just hearing that tone. It'll take you 20 minutes to get back into that deep work, to where you were, just by hearing it. Okay, so I'm telling you, put that sucker on silent to begin with, turn it over and put it away from you so you don't see it coming up or anything else. If it's that hour where you need to do that deep work, you might be writing hey, maybe you've got to write 500 words a day. You're working on a new book, all that's got to be off. You get one ding when you're in the throw of writing. You're done, it's ruined and you're going to be at 75 words and you're going to be finished. So we have to understand.
Speaker 2:They're tools or toys, right, the phone can be a tool or a toy. I treat it like a tool. My kids ask me dad, you don't have any games in your phone. I go because daddy don't play games. I just don't do it. I don't do ever, I don't. I played 20 minutes of video games with my kids in 20 years. 20 minutes, they killed me like 37 times. I go okay, everybody happy. You killed me 37 times, I'm done. I'm out now, never playing again, okay.
Speaker 2:I'm going to go make money.
Speaker 1:Would you say that focus time or that deep work time is a major contributor to businesses, not entrepreneurs?
Speaker 2:failing yes, absolutely, because they're looking for that rocking horse. They're looking for that busy distraction from doing the hard work and I don't mean hard work like I got to go work a shovel Focused on my business. Where is this going? Where is the next thing coming from? Where is this thing actually going? What marketing am I actually doing? What numbers am I looking at? What am I spending time on? Things that move the business needle in the right direction? So we're too easily distracted today with all the stuff, with everything around us, and when you want to just I don't want to I don't have the word to say if you really want to do something and be unique, because you're already in a unique category as an entrepreneur.
Speaker 1:Yeah.
Speaker 2:You're in a very small percentage. You want to go to the top of that. Do the stuff we were just talking about. Put that phone away, make it a policy. So anyone who works with you or does work with you knows you, understands. You don't answer a text immediately. You will get back to them and you don't answer an email. You start to understand. Listen, man, I'm doing big things. You know what you do when you do big things. You don't answer people's texts. Okay, and don't take it personal. Npib baby. Nothing personal in business. But here's the deal. This is how I have to operate. You can think I'm doing great and being successful. That's because I don't answer my friend's texts. Okay, till near the end of the day or whatever lunchtime it's. It's discipline, right? That's what it really comes down to.
Speaker 1:And it's the, it's discipline and being consistent, and that was one of the things when I first started doing it was the discipline was decent, but the consistency was crappy. And until I blocked it out on my calendar and I started pushing back on people like I would have two or three people consistently call me during that timeframe, call me during that timeframe and I just had to flat out tell them I'm not taking phone calls, I'm not taking text messages.
Speaker 2:I'm focused on getting the business move forward. Yeah, or in easier terms, I'm focused on feeding my family, if that's all right with you.
Speaker 1:Yeah, or that too.
Speaker 2:But I call it D3, right, so you got discipline, diligence and determination. Yeah, the three Ds. You put those three together, you're unstoppable no-transcript and then also posting.
Speaker 1:Talking to people connecting, I said if you could take that mentality and apply it to a business, you'll be very successful. By all means and correct me if I'm wrong I think where the game is won is being knocked down and getting back up every single time that you get knocked in the head. But you learn from that lesson and if you continue to learn, you're going to get, you're going to develop better skill sets to be able to get you over the top. It's just I don't know what, I don't know how to describe that, other than being knocked down has probably been the best thing for me, because it allowed me to learn from all my not just my, not just mistakes, but also situations that I've never been in.
Speaker 2:Yeah, I, it's. I always tell people winning everyone can win, anyone can win. Can you lose and come back and play the next day? That's what the champions are. They lose and they come back the next day and play. Okay, when you talk to these younger people, the big issue and one of the best comments I ever heard was they all want to be discovered and not developed. They all want to be discovered and not developed. Okay, they all want to be an influencer, but you don't like. You just said it nine years of consistent social media Okay, that's not being discovered.
Speaker 1:No, that's your typical overnight right.
Speaker 2:But that's your typical overnight success takes only 10 years. Yeah, okay, all these people who think these people just made it, go get the real story and you'll see how long they trained, practiced, failed, everything else and now it all looks easy because you put all the time in, just like when I coach people. I can see it all, I can say it all. It's great because I have 35 years, I have total failure, I have all this stuff. I've gone through, like you said, those scars. That's another reason, ryan, why it's hard to work with startups. They can't value what you bring. They don't have the scars yet. Yeah, they haven't been punched in the face, they haven't lost money, they haven't made really bad decisions and still try to overcome it. When you get to that place, oh, you want us, okay, you want us to compress 10 years into one. That'd be a good thing, because you start to realize, wow, this could be difficult. If only I knew someone who could help me. So that's where it comes.
Speaker 1:Wow, we could talk about this forever. We're coming to the end of this, but before we get to the end, a couple of things. Are you bringing on new clients or working with new clients? Absolutely, and the best place to connect with you to do that.
Speaker 2:SharpenTheSpearCoachingcom.
Speaker 1:And then for the entrepreneurs that say they can't afford coaching, can you explain your? I think it was the $100 program, whatever it was called.
Speaker 2:Yeah, it's a startup program, so it's all automated, fully automated accountability, everything else, the $100 program, whatever it was called. Yeah, it's a startup program, so it's all automated, fully automated accountability. Everything else is $100. Just reach out to me at sharpenthespiritcoachingcom, I'll dial you into that. It's a great place to start. It'll give you such a leg up. It'll give you an exponential increase in probability of your success.
Speaker 1:That was a mouthful. And when you say startup, can it be for any entrepreneur?
Speaker 2:Yes.
Speaker 1:Okay, perfect, because when you say startup, I'm immediately thinking, okay, someone's getting off the ground. I know some entrepreneurs that could probably use your system, so I'm definitely going to connect with them and see what they say. I might go looking at it. I'm always wanting to learn so and get better. I might go looking at it. I'm always wanting to learn.
Speaker 2:So and get better. Yeah, ryan, sometimes we need to take a couple of steps back. Remember when the free throw in basketball? Did they ever stop practicing?
Speaker 1:the free throw Okay.
Speaker 2:It's the same thing. Keep the fundamentals, go back to them, look at them. Do I still have them? Have I veered away from the fundamentals? Is that why things are wonky now?
Speaker 1:In the beginning, you want to build that foundation, because that's the whole business and you've got to keep it there and you also have to read. I was. I started to read a book. I know we're wrapping up, but I think it's called 12 weeks. I just got it. I can't remember.
Speaker 1:And basically for 12 weeks you're running your business and that's your annual results, and then every 12 weeks you're just resetting it. I'm only through the first chapter and already I'm drawn in. I'm like that's interesting. How am I going to be able to apply this? I don't know yet. I'm going to try, but setting goals for the year and then re-evaluating them quarterly or monthly or sorry, quarterly or semi-annually seems to be a little too far out in the future. I like the 12 weeks and you're reevaluating every one to two weeks to know exactly where you're standing 30, 60, 90 day goals.
Speaker 2:That's all you should be doing. You can have your little dream of five years from now, but so much is going to change. It won't even be. It'll be off the table in a year. You'll have to alter it. So just focus on 30, 60, 90 day goals. If your people focus that way, everyone starts achieving. That way, you're getting wins all the time and you're really seeing the business move forward. It's really critical.
Speaker 1:That is great, sir. Thank you for coming on. I love what you're doing. I love the passion. Guys, if you're listening and you want help, please reach out, because if you're doing this by yourself, you're just setting yourself up for failure. It doesn't work. You got to surround yourself with people that can do 95% of the work and you get to do 5% that you're very good at or 10% in my case and you get to do 5% that you're very good at, or 10% in my case. But if you're just doing it by yourself, how are you supposed to grow? You got to get help. You got to get people that are in your corner, that are going to take care of you, but also set straight and be honest with you.
Speaker 2:So, yeah, yeah, just remember this Lally. This last thing, remember people often drive their scorekeeper as gross revenue. Make more. Remember this saying take this home Gross revenue feeds the ego. Profit feeds the family. Focus on profit. Don't get enamored by the gross revenue. It doesn't mean anything, okay. It just means you're spending a lot of money and you're probably leaving a lot on the table.
Speaker 1:Okay, it just means you're spending a lot of money and you're probably leaving a lot on the table. So just remember that it's really important to understand profits what matters, not gross revenue. The end of the day, you want to be able to eat and put a roof over your head, sir, thank you, sir. Thank you for coming on, love what you're doing and we'll be chatting.
Speaker 2:Thanks, ron, it's been great.
Speaker 1:Have a good day.
