SFR 286: The Study Of Money – Stephen Larsen

SFR 286: The Study Of Money

Nov 12th, 2019 anchorwave

My friends, money is NOT neutral, it’s NOT bad – it’s GOOD.

Recently, I went to the bank (for my business accounts) and this teller (who was around my age) and just finished his MBA asked me…

(I’m not slamming higher education at all, but it was funny)…

“Hey, have you ever thought of what you should do with your cash?”

How entrepreneurs think about money

I was like, “Yes, I listen to rich people!”

“If someone’s NOT wealthy, I’m NOT gonna listen to them about financial advice!”

I didn’t mean it to be a degrading statement… but I think it was NOT something that he wanted to hear.

Steve Larsen and the study of money

He goes, “Steve, do you realize that you have more in your business accounts than most people do in their retirement accounts?”

I was like, “Yeah. It’s not gonna be there forever. It’s just the holding place while I wait for the next asset to go buy and it puts it into these other entities.”

THE STUDY OF MONEY

  • I’m NOT your financial advisor
  • I’m NOT your asset protection guy
  • I’m NOT your asset allocation person

… but that’s just how I look after my money personally.

*I LISTEN TO RICH PEOPLE*

People often reach out to me saying things like, “Steve! Are you doing X, Y, and Z?”

How entrepreneurs think about wealth

…. and I’m like, “Are you rich?”

And sometimes that’s offensive for people, but it’s smart for me to ask that, right?

If someone’s overweight I’m not gonna ask them how to lose weight, and it’s the same with money. If you’re not rich, I will NOT listen to your advice about money.

You may have people in your life who are well-meaning, but they might also be ill-informed.

How entrepreneurs think

And so, while they mean well, they may NOT be speaking the truth.

HOW ENTREPRENEURS THINK…

I was at Mastermind (probably almost a year ago) and this lady in the front row stood up (she was younger than me) and said:

“Hey Steven, I like what you do and I wanna do that stuff too. I think it’s awesome but my parents, (especially my dad), have a hard time with that stuff.”

The reason I’m bringing this up is that a lot of us have felt that way about people we love…

How entrepreneurs think about work

They’re well-meaning but ill-informed.

When people say, “Do this with your money! Do this with your business!” I look at them and I’ll ask myself…

“Self, is this person rich?”

If they’re NOT rich, I don’t listen!

The study of money and rich people

I believe that capitalism, getting rich and giving back and doing so on purpose is a matter of survival in today’s society.

Money is getting less valued and the cost of living has never been as high as in the last 10 years.

We’re getting phantom taxed and ‘nickeled and dimed’ in fees all over the place.

Inflation’s on the rise – so that when we get money, it’s worth less, and we need MORE of it for the exact same things.

When people are like “Money’s evil…”

Business money motivation

I’m like, “What’s wrong with you? No, it’s not.”

Money doesn’t change you, money amplifies you.

RICH JERK, POOR JERK

I was speaking at Rachel Pedersen’s awesome event ‘Boss Con’ and I shared that when I started this game I wasn’t playing full out because…

I was afraid that money was gonna change me

The study of money

…and A LOT of people have said that they’re worried about that as well.

“What if I get rich and I turn into a snob?”

I get that!

That was one of my big fears, so I had to sit back and recognize (and this is what I told Rachel’s audience),…

Wait a second, I’ve seen a lot of rich jerks in this life but I’ve also seen a lot of poor jerks.

Rich business money motivation

“Oh my gosh, rich jerk, poor jerk, that’s a thing”

And then there’s cool wealthy guy and cool poor guy… It has NOTHING to do with the money that you make.

Money isn’t what changes you, it just amplifies who you are.

If you’re an idiot when you were poor and you find some way into money, you’re gonna be a really rich idiot.

The study of money changing you

Those are the people who don’t usually keep the cash, right!

A lot of people who win the lottery are that way.

I’m NOT saying that people who win the lottery are idiots, I’m NOT insulting their intelligence – it’s just the reality!

How entrepreneurs think about losing money

If you’re not prepared for money… you tend to lose it!

QUESTIONS INVITE REVELATIONS

Too many times we ask ourselves:

  • Why am I NOT wealthy yet?
  • How come I’m NOT making money yet?

I will tell you…

The ‘me’ of two years ago’ could NOT handle what I’m doing right now, I’ve had to grow.

I was NOT worthy of what I was asking for. I did NOT qualify for the dream that I was shooting for.

The study of money mindset

My pursuit of that journey is what qualified me.

I believe that you should get rich on purpose… (it won’t happen by accident) and give back.

So next, I wanna dive a little bit deeper into the subject of money by sharing one of my favorite speeches from OFFERMIND with you…

I’m gonna break it up over the next four blogs… and this first part is called ‘Study Money’ …

The study of money not food stamps

It comes from a phrase I use “Study money, not food stamps.”

I’m NOT badmouthing anybody who’s been in a situation where they had to have food stamps, but I want to share my personal take on this with you…

PAYING TAXES IS NOT PATRIOTIC!

This is a pretty interesting graph….

The study of money and taxes

This is the year by year history of when taxes were introduced by the government.

Taxes are not patriotic to pay.

In 1792 when taxes first became a thing, they were NOT popular…

#Understatement

How entrepreneurs think about taxes

… when taxes where first announced American colonists, frustrated and angry at Britain for imposing “taxation without representation,” dumped 342 chests of tea, imported by the British into the Boston Harbor.

Paying taxes does not mean you’re a patriot.

I have some pretty strong opinions on taxation – which I will not apologize for.

Steve Larsen on the study of money

So here’s a question for you…

Q: Do you think taxes are gonna go up or down in the next five years?

A: We get taxed like CRAZY right now!

Check this out…

The study of money and minimum wage

I pulled this from Wikipedia…

Our minimum wage is actually going down.

(If you’re reading this, you’re probably trying to get out of the wages game, but if you still there, that’s okay… you’ll find a home here.)

So let’s look at the facts…

  • The amount of money we’re getting paid is going down.
  • Taxes are going up.
  • The cost living is going up

The cost of living has is increasing faster in the last 10 years than EVER before…

… it’s increasing like crazy!

Here’s the BIG picture…

  • The cost of living is going up
  • We’re getting paid less
  • We’re getting taxed like crazy.

And ‘cause we all need MORE graphs in our life, here’s an interesting one about inflation.

Inflation is going crazy too, so the money you’re getting paid is actually worth way less.

ARRRGH!

The study of money and inflation

Here’s the ANSWER = *Study Money*

“But Steven, money is evil.”

The study of money

#STUDYMONEY!

One of the things I am so proud of is that, when we were poor, my wife and I made a decision not to get food stamps.

I said, “This is gonna be hard babe, but pressure creates great systems – so let me feel the burn.”

How entrepreneurs think like Steve Larsen

…and we made an active decision NOT to get food stamps.

We had all these friends, (and I’m not throwing rocks at them), that were like, “Well if we can’t get a job, it’s okay, we’ll just get food stamps.”

We were in a college town with tons of students everywhere, so my wife worked for $3.50 an hour.

I HATE studying how to save money – it’s THE BIGGEST WASTE OF TIME ON THE PLANET.

So here’s what to do instead…

Take the same amount of effort you use to study saving money and put it into studying how to make money and suddenly, that problem goes away.

I am NOT here to teach you how to save cash, I’m gonna teach you how to:

  • Spend it
  • Collect it
  • Bring it to you

… ’cause there are some universal principles and laws that bring cash to you.

The whole get rich, give back movement, in my opinion, is a matter of survival.

BUILD YOUR PARACHUTE

Business money motivation safety net

It’s no longer, “Oh, that’s cool, you have a little side hustle.”

I think ‘side hustle’ is a weird term.

Side hustle???

“No son, it’s my front hustle. I do all of it there. What are you talking about? I’m going ALL in, both feet, ripping that cord.”

We’ve jumped out of the plane, we build the parachute while we’re falling and you know what’s funny?

The ground never really comes.

Business money motivation parachute

It’s hard to actually hit rock bottom in America because there’s so many freaking programs out there to save you, it’s insane.

But we get coddled…

We say, “Oh Don’t worry, we got food stamps. Don’t worry, there’s bankruptcy.”

We get lulled into this false sense of security and we’re like, “Uhhh….”

You kinda have to REALLY to hit rock bottom… you know what I mean?

I want you to be Capitalist Pigs in the eyes of society – because we will create MORE change than anything else.

Please, please be very highly money-motivated.

The study of money motivation

I challenge you NOT to live below your means…

Increase your means!

I’m NOT saying be a reckless spender… ’cause I’m not that either, but I am saying:

  • Increase The Means
  • Focus On The cash

WHAT RUSSELL SAID

It was my last day at ClickFunnels and as I’m walking out, Russell goes, “You nervous?”

I said’ “Yeah…” and he said, “Don’t worry about it.”

I was like, “Dude, I don’t have a product, I don’t have a funnel, I don’t have anything. What are you talking about, man?”

Russell eyeballs me and says, “You’ll be fine. What’s your goal?”

Me: “A million bucks in the first year.”

Russell smiled, “It’s not as hard as you think. You’ll be surprised at how easy it is.”

Business money motivation is easy

I was like, “Alright bro. It’s a million dollars, what are you talking about, man?”

… ‘cause it hadn’t been very long ago that we were really struggling.

That was nearly 2 years ago now! 😉

I want you to understand that money is always the byproduct of marketing.

Please focus on increasing the means and study money NOT food stamps!

#GetRichGiveBack

The study of money Steve Larsen

Alright!

*You* reading this right now, you’re in one of two scenarios.

Either…

You’re currently selling a product and you’ve got a slick sales funnel and traffic…

There are ads and you have content, bringing in new customers. You have upsells, downsells, and phone sales.

You’ve almost automated it, making money while doing everyday things.

Either that’s all set up and going…

OR…

The second option is you don’t have any of that, and you’re still trying to make this work and tie all of these pieces together.

If you want my help, just go to capitalistcoaching.com and see where you can get started.

Capitalist Pig the study of money

It took me a long time to get the skills for all this to get moving…

  • Writing the sales letter
  • Making the sales videos
  • Building the funnel
  • Writing follow-up emails
  • Promo campaigns
  • Promo emails
  • Fulfillment plans
  • Fresh new ads

… there’s A LOT.

And the path to move forward is different for each person.

So I created capitalistcoaching.com for you to check out where *you* need to start.

Whether you’re just starting out with…

  • No product
  • No list
  • No single clue on what to do next.

OR…

If you’re like one of our BIG corporate clients who just need to add more revenue and scale your offer, go to capitalistcoaching.com.

I don’t really believe in shortcuts, but I do know you can speed up the path on the journey

Figure out the BEST place to start by going to capitalistcoaching.com now.

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