148: Building Lasting Wealth with Garrett Gunderson

On this episode of Build Your Network, Host Travis Chappell interviews Garrett Gunderson, entrepreneur, financial advocate, founder of an Inc. 500 firm, and author of the NYT best-selling book Killing Sacred Cows.

Here’s what Travis and Garrett discuss in this episode:

  • About Garrett Gunderson
    • Paid contributor for Forbes and has spoken at MIT.
    • Garrett teaches entrepreneurs how to keep more of what they make and boost their bottom line without taking additional risk.
    • Garrett is excited to be back in the states after a Europe trip.
  • How do you think traveling has helped you gain new perspective on the world.
    • We’re all people.
    • He learned what he’s willing to tolerate and not tolerate.
    • Traveling is living his legacy and it’s helping his children mature.
  • Talk about what you’ve been able to accomplish and the hardships you’ve endured.
    • Bios give you a snippet of the best of someone’s life.
    • The same week he made the NYT and Inc. 500 he also suffered a loss on a real estate investment.
    • The higher our emotion, the lower our financial IQ.
    • A lot of entrepreneurs don’t celebrate enough.
    • He put on blinders on himself and it created a false sense of brilliance.
    • Killing Sacred Cows was a tell-all of his financial mistakes.
  • What would you say to somebody who’s fearful to do something that makes them uncomfortable?
    • The more successful people he spends time with spend the most time comparing scars.
    • Don’t learn the wrong lesson that prevents you from moving forward.
    • If you have any degree of vision, you’re going to make mistakes!
    • If we’re trying to appease people, fear is going to creep in.
    • I changed my family’s future by deciding to be an entrepreneur.
  • Give us a bird’s eye view of what a smart financial plan might look like.
    • Automate your savings and be deliberate with your investing.
      • Liquidity has been underemphasized.
    • Only invest in alignment with your investor DNA.
      • Focus instead of diversify.
    • Before you invest a dollar, focus on two things:
        • Find non-performing fees inside your investments and put your money back into your life.
      • Build and create economic independence.
    • Do you believe that what you know or who you know is more important, and why?
      • The value equation is his formula:
        • If you want more financial capital in your life it’s your mental capital multiplied by your financial capital.
        • Relationship capital is something you always deposit into first.
      • If you don’t know anything, you don’t get to hang out with anyone.
      • If you don’t know anyone, that’s a recipe for being broke.
      • All assets that add value are because of people.
      • Who we choose to spend our time with impacts confidence and the ability to deliver value.
    • Give us one way we can build a network properly.
      • Anytime you’re feeling scarcity, call key relationships in your life and make the conversation about them.
        • When they acknowledge and appreciate that, it elevates you.
      • Don’t waste your time trying to change people who don’t want to be changed.

The Random Round:

  • What profession other than your own do you think it would be fun to attempt?
    • A comedian or musician.
  • If you could sit on a park bench with anyone for an hour who would it be, and why?
    • Jesus
  • How do you like to consume content?
    • 1-1 conversations with content creators.
  • Give us a glimpse of your morning routine?
    • Start with meditation
    • Mobility work
    • Workout
    • Write a thank-you note to someone important in my life
    • Make cappuccino, have breakfast
    • Ask his son 3 things he’s grateful for, 3 things that make a great day, 1 thing that’s awesome about him.
  • What is something that you are not very good at?
    • Anything overly technical
    • Anything to do with fixing things with tools
  • What is your go-to pump up song?
    • Hey-Ya by Outkast
  • What is one place where we can find you the most?
    • Wealthfactory.com
    • Text 8015039667 but in the subject line WWRD for a free download of the book What Would the Rockefeller’s Do?

Tweetable Quotes:

  • The higher our emotion, the lower our financial IQ.
  • The people we love the most fear entrepreneurship.
  • If you don’t have fear, you don’t have vision.
  • All assets that add value are because of people.

Resources Mentioned:

Buildyournetwork.co – Podcast website

BYN.media/fb – Facebook Group

Wealthfactory.com – Garrett’s website

Killing Sacred Cows – Garrett’s book

What Would the Rockefellers Do? – book by Garrett

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