Title: “Learning from Setbacks: Lessons from the 2006-2007 Financial Crisis”
Vision is essential for your business. In this episode of Profit First for REI podcast, Derek Dombeck will teach you how to create a vision for your business and your life. He will also help you make sure your business aligns with that vision.
Derek is a successful investor, national speaker, and international best-selling author. He has been in the real estate business since 2003 and founded Generations of Wealth (GOW).
Know more about Derek and things you should know about money. There is a lot of cool stuff and knowledge in this episode. Listen and enjoy!
[00:58] Introducing Derek Dombeck
[02:55] Generations of Wealth
[08:04] Why real estate?
[12:45] The Rule of 72
[15:42] Why do people live deal to deal?
[19:12] How to know what your vision is?
[26:04] The Hardworker
[31:01] Connect with Derek Dombeck
[11:00] “I wouldn’t be doing what I’m doing today if I never had that failure.”
[15:55] “They don’t know what their result is or their end goal is because they don’t have a vision.”
[22:44] “Once you have your vision figured out, you should share it with the world. You should start telling people because that makes it real.”
Connect with Derek:
Tired of living deal to deal?
If you are a real estate investor or business owner who is tired of living deal to deal and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. – David
Speaker 1 (00:00):
There’s plenty of masterminds out there in the world that are focused on building this big monster business and everybody’s comparing how many deals they’ve done and what their net worths are, and it’s a measuring contest nonstop, but that may not be what you want for your vision. For me personally, every summer I take a five to six week RV trip with my family and I don’t hardly work two hours a day during that six weeks. That’s part of my vision.
Speaker 2 (00:29):
If you’re a real estate investor who’s sick and tired of living deal to deal, then welcome home. Hear from everyday real estate investors just like you, and discover how they’ve completely transformed their business by taking a profit First approach. This is the profit first for REI podcast, where we believe revenue is vanity. Profit is sanity. It’s time to start making profit a habit in your business. So here’s your host, David Richter.
Speaker 3 (00:56):
Hey, my good friend Derek Beck on today. He helps you go through of some of the things you should know around money, things that he learned at a later age that he wish you would’ve learned earlier on. He goes through also how to create a vision for your business, for your life, and making sure your business lines up with that vision, which is awesome. You’re going to get the first couple steps there. I want you to get that because that is so important. So that way you’re not just running and gunning it without any purpose behind it. Be sure to tune in here, listen to it. It’s going to give you great insight and I know this can be the first couple steps and especially if you’re listening to this at an early part of the year, this can guide you for the rest of the year. Thank you for being a listener and enjoy the episode. Hey, welcome back to the Profit RI podcast. Super excited about this one with Derek Dom Beck, which I got to know him a lot better this year. Went to one of his events in Mexico, met a lot of great people and met him in person. We’re able to talk a lot. So really excited about it. I think he’s doing some of them very unique. That would happen there too, and we’ll get into that. But Derek, welcome to the show.
Speaker 1 (02:04):
Well, thank you for having me, Mr. Richter. I like to call you Mr. Richter because you’re that important to me.
Speaker 3 (02:10):
Wow, I appreciate that Mr. Richter is my father though. Just kidding. That’s great. Here we go. So I want to just give the audience a little bit of view of my relationship with you. Where in Mexico, I went to one of his events and spoke, but it was really cool because there was a bunch of kids there. There was kids and teenagers and they held some sessions for them specifically around money and around legacy building and it was definitely a unique experience. I’ve been a part of lots of masterminds, but this was the first one where I’ve seen kids invited and then holding sessions for the kids. So I thought that was really neat. Derek, and do you want to talk about a little bit about that and then we can go into your background and real say all that stuff, but that’s the fun stuff there.
Speaker 1 (02:55):
So the generations of wealth, that’s really our brand and it’s derived around number one. My peers and my mentors used to run a conference and when they retired from it, they voluntold us that we needed to take it over and it was a passing of the torch from that generation to us and then we made it our own. We have an annual event which is called the Generations of Wealth voyage on a cruise ship, which the last time when you spoke we were on land, but it’s not focused on the kids, but we encourage people to bring their kids. So the conference itself is advanced strategies and networking. It’s very, very in-depth discussions or presentations from speakers, but having the ability to bring your kids to something that’s in a family friendly environment, the kids do not or the parents don’t have to pay for the kids to be a part of the conference and they can sit in on as much or as little as they want.
And what I’m seeing now is on average we have 16 to 20 kids that come to these events and I have three children, 17, 12 and six are their ages and they are building a network of other kids from around the country. And I swear to you, David, they actually write letters to each other in snail mail and they stay in touch with social media as well, but they write letters to each other. They do a Christmas gift exchange, pick names, they send gifts across the country, they’re building a network of their own and maybe they’d get into a business, maybe they don’t get into real estate or whatever, but they know there’s a different way and they’ve got that support system because I’ll use my 17-year-old as an example, when she goes to high school, she can’t talk to her friends or other people in our local town the way she does with those other kids. No different than you and I can’t have that conversation if we just walk in and talk to a random stranger in Walmart.
Speaker 3 (05:03):
Speaker 1 (05:04):
It’s been really awesome to watch and a lot of the families get together multiple times a year. Some of us go RVing together. There’s a lot of stuff, but that’s really what generations of wealth is really, that’s the focus of it.
Speaker 3 (05:18):
I love it. I didn’t get exposed to that type of environment until I was in my twenties, mid twenties, which is still younger than even some people in the space. But then I saw this and I’m like, man, what you just said there is so key that they’re building that network and they’re learning to network from a young age with the like-minded people that they want to hang around with that they might become friends with in the future or see at these other events. I love that. I thought it made it different. Everyone talks about legacy and the generational wealth building and its life, but they don’t bring the next generation there to actually learn. So I thought that was really cool. Everyone got education there. From the advanced investors, like you say to the children as well too,
Speaker 1 (06:01):
We’re actually talking about amongst some of the closer families doing internships. I’m going to send McKenna down to Georgia for a month and they’ll send their kid up here because we all know whoever has kids listening to your show, I can tell my daughter to do something 30 times and she’s not going to listen. But if my friend Chris tells her she’s going to come back and say, dad, you can’t believe what Mr. Chris taught me. Well yeah, Kim, because it’s what I’ve been telling you for years. So that is in the works for some of us just privately we’re going to ship our kids back and forth.
Speaker 3 (06:39):
That’s a pretty great idea. I like that a lot. Getting the real world experience. I went to college but then I worked in a real estate company for a few years as an employee and that was so much more eye-opening than college actually working in it day-today, like almost an internship. It was a paid internship at that point because I was weren’t on the job and helping them, but that’s a great idea. I love that they get that real world experience and then they get to see is this something that they like to do? Do they want to do, and is this something that they’d want to continue on? And that is so great as the father of a 6-year-old. Yeah, I can relate. It’s like someone else tells her the same thing and it’s like, what the heck? We’ve been saying this for the past few years here and it’s like, yeah, they just listened to other people better and differently it seems like. So that’s a great idea.
Speaker 1 (07:28):
We were never that way when we were their age. Were we David? I think we listened to
Speaker 3 (07:32):
Everything. No, I listen to all elders all the time. Parents. Yeah, they were the best people ever. No idea where kids these days. Oh man, just kidding. No, that’s great. Okay, so I dove right into that kind of went for the jugular. I do. I think that’s what separates out you from a lot of the other events that I’ve been to and I want to share that with the listeners right away and I really respected that about you. So then I guess what took you even down this journey? Why real estate? Have you always been a real estate investor, parents raised you in the real estate investing world or how’d you get into it?
Speaker 1 (08:06):
So I came from blue collar family. My dad was in construction and I got into construction right out of high school. So I tell people all the time, they’re like, how did you do what you did? I said, I have a PhD and a good work ethic, a public high school diploma and a good work ethic. And it was beat into me. I mean, I had my first paying job when I was 12 years old. I worked on dairy farms, I did whatever I paid for my first car, all that kind of stuff. But when I got into my early twenties and I had a good job, I had bought my first piece of property with a small house when I was just before 21 years old. And so I had 20 acres in a house and I went to my five-year class reunion and I’m looking at my classmates that went to college and they’re still living at home driving their high school beater car and now they’ve got a lot of debt.
And then I saw that I took this small house and I tripled it in size, built a big workshop and I did it with the sweat equity and my skills as a carpenter. A couple years after that, mid twenties and I had met my wife, we had somebody that approached us, it was a financial advisor and he started teaching us how money worked and they were there to recruit of course, and they thought they were recruiting my wife. They ended up recruiting me and I got really passionate about learning all the things that they never taught me in high school how money actually works because I was like most teenagers, I grew up racing stock cars. So 18, 19, 20 years old, I buried myself in debt. I had to go to a racetrack and adrenaline junkie. So once I saw how money worked and it included real estate as well as stocks and life insurance and all those types of things, I really stuck to real estate.
That was, I knew that was it for me because I could do the work. Now looking back, that wasn’t necessarily the wisest choice to do all the work myself, then you can’t scale. But that was the start. And then we built up a pretty large portfolio in a short amount of time, relatively short amount of time. And then that little thing called 2006, 2007 happened and a lot of hard work went down the drain and became some dark times in our career and our life. But even that, as I look back on it today and when I get to lead a generations of wealth event or our masterminds or anything, I’m now understanding that was such a blessing because I wouldn’t be doing what I’m doing today if I had never had that failure. I truly believe that I was forced to learn how to get creative.
And I mean this is where I started finding these mentors and peers that later became some of my best friends because I wasn’t bankable. There wasn’t literally was not a bank in the world that would touch me and I had no control over my business. And I would argue anybody listening to your show, if you only use banks, you are not in control of your business at all. So moving forward, taking down properties, either controlling them or buying them outright, using partners, private money that we raised, creative structures, sub two, purchasing options, leases, all of those things stacked together, that became my driving passion and I’ve never done anything halfway. If I’m going to learn how to do something, I want to just pull in anything and everything and continue to learn it. I mean, to this day I’ve got half a dozen properties under contract right now and only one of ’em is a cash purchase and they’re all a little unique from anything I’ve done in the past, but I just keep tweaking it and it’s fun. I can definitely give you some case studies but want to keep you going in direction you want to go.
Speaker 3 (12:30):
Well, I was going to say there was so much there I could hone in on. The first thing I want to hone in on though is when you first went down that rabbit hole of you learned how money worked, what did you learn there that you wish you would’ve learned in high school or in school?
Speaker 1 (12:45):
Simple return on investment discussions. How the rule of 72 works. I can explain that to anybody in less than a minute. Why couldn’t a teacher explain to their junior class or senior class in high school about the rule of 72? The want to explain it?
Speaker 3 (13:07):
Yeah, explain it here so that way people know if they’ve never heard that before.
Speaker 1 (13:11):
Well, so you take the amount of interest that you are receiving on an investment or paying on a debt and divide it into the number 72 and whatever that number comes out to you, that’s how many years it’ll take to double your return on your initial investment. So if you took $10,000 one time and you didn’t add to it, you just put $10,000 into account and you were getting a 3% rate of return versus a 6% versus a 12%, do you have any idea how much difference over a period of 48 years, $10,000 could be based on those interest rates? Take a guess.
Speaker 3 (13:56):
Probably, I don’t know, a couple million,
Speaker 1 (13:58):
About $2.4 million difference. So $10,000 invested for 48 years at a 3% return is about 2.4 million. Less than $10,000 invested for 48 years at a 12% return. And if I had a whiteboard and I was able to do it for you real quick, I could show you. But the reality is that simple rule, that general guideline was so eye-opening and that and of course many other things. So when somebody is now looking at me and saying, I got my money in a bank cdd, it’s safe, or I’ve got my money in pick the investment vehicle because it’s safe. I think the only thing that they believe it’s safe is because they’re lacking education. It’s safe to them because they don’t want to go out and actually learn anything different. To me, I don’t get out of bed for under a double digit return. It just doesn’t make sense because the dollar’s devaluing so quickly and it’s not safe. You go bury your money in the backyard and take it out a year from now and see how much buying power you lost. It’s not safe.
Speaker 3 (15:14):
Right? Yeah, no kidding. Just go to the grocery store, right something and see it in the day to day. Okay, so that’s cool. So the rate of return. So that’s one of the things that stuck out to you, wish you would’ve learned in school, warn it at this class. It just makes me think because the first REI podcast. Okay, well then why do you think most investors real estate and people in real estate live deal to deal, they’re stuck in their own rat race? I like asking that question a lot on the show.
Speaker 1 (15:43):
I think it’s a hundred percent vision. You and I have both studied vision over the years, having a vision for your personal life, having a vision for your business. They don’t really know what their end result is or their end goal is because they don’t have a vision. So they look at it and say, well, I’ve got this deal, I just made 20 grand or 40 grand or 50 grand and I’m going to go do it again and do it again and do it again. But they start to get greedy in most cases and pretty soon you’ve got somebody, well, I’m up a quarter million dollars now I’m going to go and put it in the real estate roulette and bet on a big commercial deal that I’ve never done I have no experience in or whatever. They’re going to make a decision that they most likely didn’t fit their true vision of what they want in their life and they fail or they lose it all.
And I’ve lost it all before. So I know that feeling and I really don’t ever want to have that feeling again. Maybe I will. We don’t know. I mean hell, how many landlords that were doing it right, lost their butts with covid, right? So it doesn’t even have to be that you made a bad decision. Circumstances happen, but paycheck to paycheck, those investors, those flippers, and I shouldn’t even call ’em investors, flippers and wholesalers, and I am one, but that’s a job that is an active trader business that’s not investing and buying and holding stuff and building mailbox money and wealth. That’s investing. And I will be the first one to admit I get caught up in the quick buck too. I want to sell that property off and make a quick 50 instead of a slow 200. And that’s definitely a change in my direction.
Recently I’ve been involved in multiple businesses over the years and some with partners, some without, and sometimes partners have different visions which can lead you down a path that wasn’t necessarily what you thought. So I’ve not built the amount of wealth and the amount of assets that I projected I would by this age. So I think it’s important that you got to look in the mirror sometimes and maybe pinch yourself or smack yourself a little bit and say, Hey, why am I living paycheck to paycheck? Why am I living deal to deal eventually we all get older and I’ve got friends of mine. I mean they’re in their sixties, seventies, and they’re still have to do deals. I know I’ll still be doing deals when I’m that age because I want to, because I enjoy it. I don’t want to have to be doing deals at that age.
Speaker 3 (18:45):
That makes a lot of sense. Thinking you hit the nail on the head there because a lot of people just spin their wheels and they don’t have that vision of what it really looks like for them. They keep moving that goalpost. Just a few more deals and a few more nails to keep going. So then vision, I know we’ve studied about where would you say someone needs to start? I don’t know. Is there a book? Do you teach us in the things that you’re doing with your masterminds and events? It’s like how can people get a first step of how to know what the vision is? I think that’s one of the hardest things for people internally for a lot of them in their headspace. What do I really want and how do I even know how to figure out what that vision is for what I want to do? So what’s your guidance there?
Speaker 1 (19:28):
Yeah, I mean when we host our masterminds, the REI Circle of Trust, it’s very much vision focused. We’re first and foremost going to have a question or not a questionnaire, but I guess we’re going to sit down with our clients and extract what their goals are, what do they want from the mastermind? That’s the starting point of it. But then as we talk through what they wanted and this from experience, often they don’t know what they want or what they think they want was told to them by somebody else because plenty of masterminds out there in the world that are focused on building this big monster business and everybody’s comparing how many deals they’ve done and what their net worths are, and it’s a measuring contest nonstop, but that may not be what you want for your vision. For me personally, every summer I take a five to six week RV trip with my family and I don’t hardly work two hours a day during that six weeks.
That’s part of my vision and I don’t need to make more money because you made more money or other friends of ours made more money or did more deals and that’s hard. Most of us entrepreneurs are also competitive and we don’t like showing up at an event and our friends are all bragging about this a hundred units they just took down and we’re like, oh shit, I haven’t even bought a house in six months because we’re all posturing. I mean, we’re in a society full of people that are all social media driven and trying to impress everyone else. When you get over that, and most people do, I hope, get to that tipping point. I know I did where I don’t care what people think about what I have or I care that they know I’m a good person and I have good morals and ethics and I’m there to help them.
But I’ll be the first one to say I live in the middle of nowhere central Wisconsin. I don’t need to make a hundred million dollars a year to have a very comfortable life in the upper Midwest, and I’m okay with that. That’s not to say that I don’t want the finer things in life and I want that for my kids, but I’m not handing it to my kids either. They got to earn that. I tell ’em all the time, just you have a last name doesn’t mean you get all this right. You’ve got to earn it.
So I think the start of a vision, number one is you can do it in bullet points or story form, whatever is comfortable for you, but you have to start dreaming and doing it without filtering it with cost or time. So you start to just map it out and say, yes, I want that beach house. I want to be able to give 20 hours a week to volunteer at the hospital or whatever it is. But most people, 99% of people, especially if they’re analytical, they have a hard time dreaming and they have a hard time doing that without factoring in how am I going to pay for it or how am I going to have the time? And that’s the start of it From there, my true belief is once you have your vision figured out, you should share it with the world. You should start telling people and because that makes it real.
When I finally started embracing what I could do to help teach people and educate and telling peers and friends, I’m going to start this mastermind or I’m going to host this cruise, whatever example you want to use now I feel like a failure. If I don’t do it because the public knows I’ve proclaimed it to the world, I’m going to do this. If I didn’t proclaim it to anybody and I just kept this little piece of paper with my vision written on it in my bathroom, folded up where I can never see it again and I fail, nobody else knows but me. My belief is you share your vision and it’s a living, breathing document. It should be changing. You should review it all the time, but you should add to it. And as you hit milestones, you should celebrate those milestones. Oftentimes we don’t celebrate and then it doesn’t feel real either. Yeah,
Speaker 3 (23:56):
That’s good. That’s a good place to start. So write it down, bullet points,
Speaker 1 (24:00):
Share, share. There’s a time, David, where I would’ve never dreamed that I’d be being interviewed on podcasts, hosting all these national masterminds, doing all this stuff That wasn’t even in my vision. It got added over time, but this was never on my radar five, six years ago. It happens
Speaker 3 (24:22):
And then now it’s a part of it, I guess. Or if it’s not a part of it, you’d be like, how do I get out of this? I need to be getting out of this. Sometimes you get into those situations and you’re like, oh shoot, I don’t want to be doing this anymore.
Speaker 1 (24:36):
Well, when you have your vision clear, you use it as a measuring tool for shiny object syndrome. If I say in my vision I’m only working four days a week, nine to five, I’m not working Fridays, I’m not working Saturday or Sunday, and this new opportunity shows up and it requires me to manage a restaurant or a bar at night or weekends. Well, okay, new opportunity, vision, this doesn’t fit my vision, it’s out the door. Right? It’s really an important tool. Otherwise, again, just talking about myself, I will take on way more stuff than I can really handle. And still to this day, I get opportunities all the time and most of the time I’m pretty good at filtering and saying no. Every once in a while I say yes to something I probably shouldn’t have.
Speaker 3 (25:37):
And do you think that’s, because you had mentioned being reared to be a very hard worker and to be from 12 years old had a paying job. Do you think some of that now is, I know graduating out of it, not that you’re not a hard worker, but it kind of sucks you into, well, I need to be the hard worker. That’s kind of the identity that you had for so long. I don’t know, just something off the top of my head of where is that sometimes what rears its head because of where you come
Speaker 1 (26:04):
From? I dunno, my therapist hasn’t pulled it out of me yet. Mostly I don’t have a therapist. Okay.
Speaker 3 (26:09):
Oh, there you go.
Speaker 1 (26:11):
You are it. David, you are my therapist.
Speaker 3 (26:14):
Yeah, right now we’re going to put you on the couch.
Speaker 1 (26:17):
Yeah, I just lay back a little farther and talk to you. Right, there you go. I know for me personally, I’ve always been competitive. And so when somebody daress me or says You can’t do that, or they’re thinking, I can’t do that. Yeah, I want to prove ’em wrong, and that’s a driving force for me, which I got to be careful about. That could make me choose to do things that I shouldn’t or that I don’t have time for or takes away from other more important businesses or family stuff. But it’s also when the chips are down and your back’s against the wall. When you have that mentality, you come out swinging and often and oftentimes and most times you come out even better. And that’s at least the mentality I have and have proven that over the years. But again, any one of us can have an unforeseen challenge that happens. And honestly, just from a personal note, for myself this year, this year alone, I’ve buried three classmates all at 48 years old. Oh wow. And one was just a couple weeks ago, and you start looking at getting into your middle aged years and older. It’s not so much about money as it is time as you progress. So
Those constant reminders.
Speaker 3 (27:43):
Yeah. Now I like how you put the vision there too and you said it’s a living, breathing document as well. So it’s like, okay, as things come up in your life and you’re like, okay, I really want to focus on time versus the money and I need enough money to be able to buy back the time or whatever, just it crystallizes it and like you said, then it’s that filter for what you really want to be doing and really being able to put that focus and attention towards, well,
Speaker 1 (28:09):
Most people will have things, objects in their vision to start with the house, the vacations, the cars, and once you get that, I was just talking to a buddy of mine and he said his brother had a Ferrari and for the first two months it was awesome shiny car. After that, six months later it’s just a car. And he’d have friends that would come up to him and say, oh, I love your car. You just throw ’em the keys and say, yeah, take it. Take it for a ride. It’s got insurance, it’s just a car. Eventually the things become just a car in your vision, and then you start looking at more of the what can I do? Who can I help? The volunteer work, the nonprofit type of stuff. Philanthropy, that’s fairly natural progression as you get through it. But if you never have a vision at all, you never get past the things. You’re always thinking, well, the neighbor’s car is better than mine or the neighbor’s house is better than mine to the neighbor, it’s just a house, it’s just a car.
Speaker 3 (29:15):
Speaker 1 (29:16):
Speaker 3 (29:19):
That’s really good. I feel like that’s a good point there if you’re listening to this that you can’t do a vision wrong at the beginning. It could be the stuff and then it graduates two other things or whatever it might be, and it’s like just start with something so that way you can go through it and be like, okay, is this what I really want? Is this what’s really important to me? And it’s like your own learning progression and yeah, no, I love that you brought that up.
Speaker 1 (29:43):
And if you get to a point, David,
Speaker 3 (29:44):
Speaker 1 (29:46):
When people say to me, well, I’m already living my vision, then you’re not thinking broad enough, right? And that’s when you get past the stuff, that’s when you start going to what can I do for others?
Speaker 3 (30:00):
Yeah, that’s really good. It’s been really good. I’ve really enjoyed this because it’s talked about where you got the money mindsets and there’s a breakthrough up there and the return on investment to going through 2000 6, 7, 8 and how that’s made you where you are today and helping other people and now you have that perspective that a lot of people that have started over the last even 10, 11 years don’t have that. And it just makes you that much more valuable to be able to help them get to where they want to be and then where you are now and with the circle of trust and just being able to help people with their vision has been awesome. And I think you gave a lot of value there of just how do I start the vision? Can’t start it wrong, do something with it. I like how you said bullet points or story form. It’s like just get something out there and then it’ll progress. It should be a living breathing document. So there’s some tangible first steps right there. So then Derek, how do people get ahold of you or if they want to know about Circle of trust, whatever it is that you’re offering to make sure that people can connect with you after this?
Speaker 1 (31:01):
Yeah. Well first of all, if you don’t mind, I’d like to give away a book, a digital version of our books to your audience. So if they just simply email me and I still monitor my email, my assistant does, so it’s me answering you just say, Hey, I heard you on Mr. Richter show. It’s important. You say, Mr. Richter, I dunno if I ever told you this, but my mother is a Richter from her, from Holmes, from her maiden name, so I’m half Richter.
Speaker 3 (31:33):
Okay, I think we talked about that.
Speaker 1 (31:35):
Nice. I doubt we’re related, but anyways, so shoot me an email. My email address is Derek at global GOW, and so it’s D-E-R-E-K at G-L-O-B-A-L-G-O w.com. Just again say you heard me on David’s show and I’ll shoot you over the actually a couple books called Next Level Your Life and the other one is The Transformational Journey. I’m a co-author along with a bunch of really awesome other authors. The books were produced and published by Jim RoHS, former business partner, Kyle Wilson. He’s just been a great friend to me lately. And if you are interested in learning more about the Generations of Wealth Voyage, you can go to that website is GOW voyage.com and I appreciate David even bringing it up and we loved having you as a guest speaker. And yeah, that’s really it. Anything I can do to help your audience, don’t hesitate to reach out.
Speaker 3 (32:40):
Awesome. And I want you to go there if you need that help or if you want the visual, this is good stuff. He practices what he preaches is helping the next generation literally, and it’s not just has it in the title so many of the other ones seem to do. It’s like actually helping the next generation and putting them in the room there and giving them a platform as well too. So love that. Then you get the books, email, make sure and put Mr. Richter at the subject line. He’ll know exactly where it’s coming from right there if you do that and make it simple for you. So there you go. This has been awesome. And then if you’re like, Hey, what the heck? I have no idea what’s going on with my money. I need to learn some of the stuff that Derek learned way back when and you’ve never been taught any of that foundational stuff.
You can head over to simple cfo.com. We can book a call there and see if we can at least point you in the right direction, whether we can help you or if you need to be pointed in some direction. I want to just get you that foundational financial literacy and clarification so you can be on the right path. But that’s where I want to make sure you have someone on your team. And then I want to make sure also that you make profit a habit in your business. Do that, follow this, go rate it, like it, all that stuff. I want to make sure that you get all that value. Derek, this has been awesome. Thank you for sharing the vision and the first steps there and just all the different things that you’re doing. Love what you’re doing with your masterminds in your circles as well too. So thanks for being a great guest today.
Speaker 1 (34:01):
Thanks for having me. I appreciate it.
Speaker 2 (34:03):
This episode of The Profit First for REI podcast is over, but there are plenty more where that came from. Are you ready to learn how David and his team can help implement the Profit First system in your business? Schedule a discovery firstname.lastname@example.org right now. We’ll see you next time on the Profit First for REI podcast with David Richter.