Marketing Secrets with Russell Brunson - Kids And Entrepreneurship (Part 3 of 3)

Episode Date: August 12, 2019

Kids, Business, Marriage - how do you do all the things? Get a glimpse during the last of this 3 part series on how to raise an entrepreneurial family! On today's super special episode, part three of three, Russell and his lovely wife, Collette are interviewed by Joshua and Ashley Latimer about being an entrepreneurial family. Here are the questions Russell and Collette answer in part three: What ways do you teach your kids about entrepreneurship and finances? What advice would you give a highly driven entrepreneurial family? How important is it to have a like minded community? So listen here to Russell and Collette as they answer these important questions. Transcript - https://marketingsecrets.com/blog/231-kids-and-entrepreneurship-part-3-of-3 Learn more about your ad choices. Visit megaphone.fm/adchoices

Hey everyone, this is Russell Brunson. Welcome back to the Marketing Secrets Podcast. Are you guys pumped for today? This is segment number three of three of my interview, of the interview with my wife, Colette. If you haven't yet, make sure you go to honorandfire.com and opt in to the Latimers. There are free family checklist systems that they posted.

It's free family checklist for entrepreneurial families. And it's amazing. What they're doing is so cool and I'm so grateful for this interview and that they created a really safe spot for my wife to be able to share her thoughts and her feelings. And I hope you guys are loving her even one-tenth as much as I love her

because she is such an amazing person. And so grateful to have her being able to share some of our experiences with you. So, all right, with that said, we're going to jump in right now to segment number three. Of three, and these are the last three questions they asked us. Question number eight is, what ways do you teach your kids

about entrepreneurship and finances? Question nine, what advice would you give a highly driven entrepreneurial family? And question 10, how important is it to have a like-minded community? So those next questions. I hope you guys enjoyed the series. If you have enjoyed it, please, please, please

go to, again, take a screenshot on your phone, wherever you are, post it on Facebook, on Instagram, social media, wherever you, wherever you post. And please tag me and tell me why you liked this segment and the session. I would love to hear some of the thoughts and the feelings about why you guys enjoyed this time with my wife. So, and maybe if you guys do let us know, maybe we'll do this more often and have her come on and share some more stuff. So, ah, so excited.

All right. That's a cute theme song. And we'll jump into the exciting conclusion of my interview with the Latimer family and my beautiful wife, Colette. So the big question is this, how are entrepreneurs like us who didn't cheat and take on venture capital for spending money from our own pockets? How do we market in a way that lets us get our products and our services and the things that we believe in out to the world and yet still remain profitable? That is the question and this podcast will give you the answer. My name is Russell Brunson and welcome to Marketing Secrets. How do you teach your children about entrepreneurship and what ways will this give them an unfair advantage in life? I think what, go ahead. All right. It was one of the cool things we, um, we did was,

um, a little, uh, two years ago we had Caleb Maddox and Emily, um, come out who are two young entrepreneurs and spend like the day with our kids, uh, which was really cool and kind of talked to him, got him excited about it. And then, um then Caleb and his dad, Caleb, his dad told us that what he did is he gave Caleb these success books and say, I'll pay you $20 for every book you read. And I thought it was the coolest thing. And so we started doing that with the kids. And some kids are more money motivated than others. But man, they've read tons of success books now. Like, Success, Rich Dad, Poor Dad for Teenagers, Success Dogs. Dallin's read both of my books, which is crazy. He's like, I don't understand most of the things, Dad, but I read them.

Well, and actually, Aiden, like, he'll be nine in August, but he's been putting little MP3 player plugs in his ears and walking around listening. So I think that's cool. Yeah, and so that's been big. I think we brought him to one Photo Hockey Live. They were young. It was crazy.

It was kind of hard. But this year, I think you know this, we're doing an event this summer specifically for kids so I can bring my kids to it. And so it's going to be really fun to kind of give them into that kind of thing. And then the other thing I really want to do we have to discuss this but um i had a friend uh her name's ray perry used to run these um homeschooling uh programs and she did these events where she'd have a homeschool parents and kids they'd come they'd have speakers on each topics one would talk stock market one would be real estate one would be internet marketing one would be ebay like all these different things and everyone would sell

the courses and they'd have the kids each go and buy a course each each um each uh each each event and that'd become their curriculum to learn like i want to learn about stocks and they go deep for next year on stocks or on real estate or everything was and so i kind of want to like have our kids pick things like that this summer in fact oh this is actually i forgot about this we had this on our family on sunday um we're trying to figure out because summer's coming soon and we don't want the kids to be like this all summer on their screens right um and so first we're like we're new screen free summer no screens all summer and they were all just like that's like what are we gonna do with them all day because you're gonna be working like this sounds horrible for everybody and like okay let's rethink this and then then like um when we

were in puerto rico hanging out with brendan bouchard he said something really interesting he said um because we're talking about social media one guy there was like i don't do social media it's a waste of time and brendan's like no you don't understand like i'm not a consumer of social media i'm not consuming it i'm producing because there's a difference as a producer i go and i produce something and i'm done and it's helping other people but i'm not saying they're consuming other people's things. And that was the aha of our kids. It's like, right now they're consumers. They sit there and they watch some stupid guy

with blue hair play video games for four hours and they're watching somebody else who produced. They're consuming. And I was like, I don't want you guys being consumers. You don't value, the world's not getting better because you're a consumer, you need to be producers. We talked about, with them we're talking about starting a YouTube channel,

and then each of them gets their own little playlist. It's like, hey, every morning, wake up, and, like, Ellie's our daughter, who's obsessed with the craft channel. Like, wake up, go watch a craft channel, figure out a craft you want to make, then go drive to the store, buy the stuff, come back, have you and your brothers film it, make the craft and edit it, and you're allowed to use as much screen time as you want as you're producing, but to produce a video that you're going to publish live, and now you produce something. So, like, our whole thought is, like, you can only use screen time as you want as you're producing but to produce a video that you're going to push publish live and now you produce something and so like our whole thought is like

you can only use screen time during summer to produce not to consume and then i thought it'd be fun for them is like there's you know skillshare and all these different sites like pick a skill you want to learn go learn it and then you make videos of you like teaching it back to people and so that's kind of goals helping then producers this summer instead of just consumers. I love that. That is gold. Can I squeak in a mini follow-up question to that though? Yeah. So like,

I just want to make sure I'm respecting your time and that we're just moving along and everything, but this is so, so amazing. But so what's your philosophy just on finance with your kids and stuff? Like, okay. Cause you've been broke and you've had lots of money and you're wealthy. what's your philosophy just on finance with your kids and stuff like, okay. Cause you've been broke and you've had lots of money and you're wealthy. How are your kids aware of it? Is that something you talk about? Do you do is,

is the business stuff just your front stage internet marketing stuff or in the home? Are you talking about, here's what we're trying to do. We're trying to go to a billion dollars in this. We're going to restructure our org chart and our model. Are you, is any of that happening or is it just dad Russell all the time? And there's not a wrong answer. I'm just think people will be curious. And then like, when it comes to

money, do you give them allowance? Do you teach them that they only get paid for value creation? Do you buy them a car when they turn 16? Do they have to buy it? Well, how does all that work for you guys? the first part of question i have not been good at that like bringing them into what i'm doing more a lot of times like we'll show them fun on our tv episodes and talk about like cool people are meeting so they see a little bit of that but we haven't talked about the finances or the goals or it's actually really interesting i'm glad you brought that up just to think about um and then on the other side we don't do allowances. They, they can work for money.

Uh, we haven't pulled weeds for money. We have them do books for money. I guess for money. Yeah. And I was like, here's money because you're alive. Oh, allow it. True allowance is like just pure socialism. It's like, you have a pulse.

Here's the money. It's like awesome. Right. But yeah. Yeah. It's funny. Cause some of our kids are super money motivated. Some are like down in LA, both like money. So Ellie will do something or like if they she scores the gold soccer we give her a dollar so she'll do stuff and then she's a consumer and she spends it like

she'll make money and then she drives to the to the juice place and she buys juice five seconds like drives her bike yeah she does not drive but like rides her like she gets there. You know, what we started doing is our kids love to play games and Fortnite and all that and watch YouTube and stuff, but they can only do it now by spending points. And so what they do, like when they take out the trash and do stuff, we have a little app that we built for my company called automate motivate. It's actually for businesses, but we use it with our kids. And so they get points as they're doing stuff, but they can only play game time when they're cashing their points for

an hour block of game time and it's been a complete ridiculous success like every day when they come home they're just like what can i do and they do it and then they can you know earn 30 minutes of game time it's kind of gamified that but it's not money directly and there's different things they get game time or go to the movies with mom or something it's been interesting but some of our kids want to buy game time and then the other one is like what can i buy on amazon right now like yeah he like wants it burns a hole in his pocket he would ride his bike to the store a store was near us we live in the middle of nowhere. That was great. Yeah. Thank you for all of that. So much, so much awesomeness. Question number nine is kind of for other people, right?

Like what advice would you give a highly driven entrepreneurial family? And what advice would you give their spouse? So sometimes like the man is the entrepreneur, sometimes the woman is, sometimes they both are. Oftentimes there's one is non-entrepreneurial one is a maniac what advice would you say to that young couple that's about to go down this crazy up and down have to fire they don't even know they're gonna have to fire 80 employees in one day five years from when they're starting but what would you say to them i say on my side like um i always think like i always tell people it like, you only be as successful as your spouse will allow you to be. And I'm so if I wouldn't, I look at everyone else I've ever dated before people I knew, if I didn't marry Colette, there's no way like we couldn't, we could have got here. Like, this is not possible. And I think I'm so grateful for her, like, how much grace she's given me during the times of like, of like the hard times or the low times or the times I didn't produce or times I didn't show up right or like you know it's so easy to hold judgments and hold grudges and hold things like that and she's never been that way you know it might be something we get an argument about but

then it's like it's gone and she forgives it's like it doesn't keep lingering and lingering i think a lot of times you see that relationship lingers lingers to the point where it breaks and she's never been that way it's just kind of like it's just she's i don't know she gives me i guess grace is like the word in my head that like, just forgiveness of like, I understand you're doing stuff. Doesn't make sense. It's not normal, but like, I still love you. And it's, it's, it's okay. So. Oh, it's so hard because I get the question all of the time,

like at funnel hacking or when people do run into us or like, give me some advice. Tell me what to do. I've had a couple of women just in tears. How do I support my husband? And it can go both ways. And it really made me think, I'm like, how did I allow Russell to live this dream? Like, how did I allow him to move forward without me cracking? The truth is, I did crack, you know, you go through all the things. And I mean, we weren't rich right out the gate. And so we had a little family work hard for all that you have. And I don't know, like, so you see, and you're like, but I want him to live his dream. I don't want him to be miserable with this life. So it's just kind of,

and everybody's so different. So advice is to me is hard because everybody is a different personality. But yeah, I would just say communication because I just learned that I would tell myself younger, my younger self that as well, communicate. And the other thing is do something for yourself. Like, um, so the advice to a highly driven, like, like for instance, he's the dreamer, like he's a dreamer and he's always like, what's your dream? And I'm like, I really don't know. Keep everybody alive. Keep up the house to be this mom, like, you know, and, um, but to do something for yourself, like go out with your girlfriends and breathe and communicate that with your husband, like, or your significant other.

And take some time for yourself because otherwise you're crack. And I did crack a lot. I learned the hard way, but also like podcasting all of these great, amazing tools that we have today. Like I would tell people that are out in this world to listen to all the positive things, like to get through these moments or how to deal with you know a dreamer and um i don't know yeah that was amazing that

was like a mic drop i'm pretty sure you know that was perfect too that was amazing but there is always tears and there's always a little something that's just human nature. But we're not perfect. Have you ever felt pressure to act like that's not the case? I mean, things are weird at home. You're a public figure because you made yourself internet famous. Yeah. But you know what I mean? Like, is there, what's that like?

Oh, what's that like? Oh, what is that like? I'm assembling. I think sometimes you feel, I mean, for sure you feel the pressure. It's funny too, because like people are like, how are you always happy? I'm like, you know, cause I'm happy. I'm clicking. Hey, how's it go guys? And you're like, all right, it's back to the fight. You know, like, you want to see what's actually happening here? We're really upset right now, you know, whatever. But it's interesting, like, um, it's interesting because I think a lot of times you feel like you want to see what's actually happening here we're really upset right now you know whatever but but it's interesting like um it's interesting because i think a lot of times you feel like you got to keep that posture because you but the fascinating thing is like the times that i don't like times i break posture and like i'm more vulnerable like frustration or things like that um that's when i feel like more like that's people actually connect anymore it's funny

um natalie hodgson talking about here yesterday she she did the instagram something about like you guys think of a nice cool calm collective mom i just screamed to my kids for 30 minutes i threatened to throw the tv over like i'm a horrible like all of a sudden she's like bawling her eyes out everything and she told me she's 351 dms from that one thing i should say i've never done that before like that's what that's what draws people in and i think that you know i think i feel like we've tried you know i don't know i i think there's always some of that but it's tried to be like more like but things are tough sometimes like i remember my very first wrestling practice with the kids out in the garage i did a whole podcast about like man that sucks like i want

to record this now so that someday i can like have my kids remember like the first practice how horrible it was how mean they were how they just let like i just try have my kids remember like the first practice, how horrible it was, how mean they were, how they just let like, I just try to share more of like the pain part. Cause that people actually resonate with that way more than, than the posture. People crave authenticity. Yeah. But now Russell's going to choreograph fights so that he can do great.

I'm just kidding. Okay. Oh no, I, I a hundred percent agree. You get great content. I'm just kidding. Okay. What was the club was going to say? Oh, I'm sorry. Oh no, I,

I a hundred percent agree. I don't feel like, I mean, sometimes maybe I'm like, Ooh, let me get dressed up a certain way. That's why when people come up, I'm like,

Oh, I don't have makeup on, but like who cares? Whatever. For just seriously real people. Yeah. Yeah. Yeah. Okay.

Never do that. Sure. You don't. I did that. We just talked to Alison Prince and her husband. Oh, I don't know where it came from. And he did it twice in that interview. He can't, he's not allowed to do that. It just felt right. It's hilarious. I love it. It's not right. It's not. Okay. Last question. What's up everybody. This is Russell Brunson. I've got something really cool for you today

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Hey, this is Russell Brunson, and I want to jump in really quick to share with you a new assessment I found out that is insanely cool. You guys know I'm obsessed with personality profiles and assessments, but this one is different because not only does it help you understand yourself, but more importantly,

especially for us who are entrepreneurs, it helps us understand our employees, our teams, and get people sitting on the right seats in the bus so they can get more stuff done. I just had a chance to interview Patrick Lanchoni talking specifically about this new assessment they created called Working Genius. And the Working Genius is awesome.

Like this test, I had actually blocked out an hour to take it because I was so excited for the new assessment. And it only took me like 10 minutes or less to get it done. Yet, even though it takes only 10 minutes, like you can actually apply this immediately. I took it for myself. I had my team take it. And what's cool about it is from there,

we figured out exactly what people's working geniuses are. And that's important because if you're building a team or a company, you got to figure out, make sure that you have, first off, the right people, but make sure the right people are sitting in the right seats on the bus. And this is what this assessment will teach you how to do. Now, normally this assessment, you can go to workinggenius.com and there's two G's in

the middle, workinggenius.com, but I got you a 20% discount on the assessment, which is only $25. So don't stress. It's not an expensive test at all, but you get a 20% discount off when you put in the keyword secrets at checkout. So go to workinggenius.com. Again, two Gs, working genius, two Gs in the middle, workinggenius.com, and then use promo code secrets, S-E-C-R-E-T-S at checkout, get 25% off.

But then go take the test. Again, it takes you 10 minutes, but even in a 10 minute session, you will get something that is so insanely valuable to help you understand yourself, to make sure you're working in a spot that's going to be the most joy, number one. But then number two, it's going to make sure that you are with your teams, getting them in the right seats as well. So anyway, I love this assessment. Go check it out at workinggenius.com and enter the promo code secrets for 20% discount. Take this test for yourself and for your team. And I promise you it'll change the working dynamics amongst everybody and help your company to grow. How important is having a like-minded community

as an entrepreneurial family? Like we wanna like assemble all these people that care about crushing two comic clubs and doing huge things in business. Not about money, it's just who you are. It's what you are. But equally and more so care about crushing it at home and just

just connecting with your spouse and being the super parent how important for those people is it to be in community with other weirdos like that i know i think it's super important we had this yesterday your interview cled asked dallon one of our our oldest twin nine minutes oldest anyway about like what he likes about this thing and he he's like, you know, I don't, I don't like being wealthy because I have friends at school that make fun of me for being a rich kid. And it's like, oh, you know, that's right. Like, you know, and it's funny is then the kid who said that I specifically know who it was.

He told his dad told me, he's like, he's like, my kids asked me how can I have my own restroom at our house? Why can't I get a job like Russell's? So it's like funny because like both me how come I don't have my own restroom at our house. Why can't I get a job like Russell's? So it's, like, funny because, like, both kids, like, the opposite direction. But I think it's important because it's, like, we live differently, right? Like, most people, they wake up in the morning, they go to 9 to 5, they come home, they watch TV, or they drink beer, they follow, you know, like, that's, like, the majority of the world. And it's, like, we're out here trying to change the world and have fun and do the things. And it's, like, thinking about other people besides just ourselves and we're trying to create and it's

like the more they're around other people doing that the more they're not like embarrassed of it it's like oh like it broke my heart right hearing that yesterday i'm like god that's that's how he feels because he's embarrassed like we need to get them around more people who are creating because because you know you hang we we hang out with kayla maddox like that night he's writing a book because kayla was you know like the more you're doing that the more inspires more they're able to see kind of what's what's possible so i think that's a big reason why we're doing the the kid event in the summer so they can get they can plug into that we're having a couple kids speakers come as well and just so they can i want them to have their eyes open to like oh my gosh

i could do this too this is cool it's not a bad thing. It's a super positive thing. And yeah. Yeah, no, I agree. It's a big deal. I'm like, Oh, I really appreciated getting these questions beforehand because I really did. I was asking my kids the same thing. And so it was interesting to get each of their, you know, their perspective. But anyway, well, thank you guys so much. We're actually part of what we're working on is this thing. It's called the Family War Plan.

It's not a journal. We're not going to call it a journal because that's not cool enough. We're going to call it the war plan. But it's for families and it has all this crazy stuff. If we, I don't know when they'll be done or whatever, but if we get them done in time, I want to just give a bunch to ClickFunnels to give to the families that come to the thing with their kids. Gosh. I don't know if they'll be done or not, but it's so epic.

And thank you, thank you, thank you, thank you, thank you. Thank you. A triple thank you, thank you. And you were fabulous. Absolutely fabulous. Really good. I'm super impressed. I'm so proud of you.

Thank you. You're natural. I'm not natural. We're starting a podcast together. You did a great job. Yeah, you did a great job. Enjoy. I'm assuming you're having a day off because you've been doing crazy, ridiculous things.

I'm making him go to Zumba tonight. That's our date night tonight. We're going to have a Zumba. Maybe some blackmail happening here in the future. I just saw yesterday that Zumba's dancing. I did not know that. He'll just phone into Instagram. It's like really hard dancing.

You don't stop. You keep going. I thought it was like a workout. I've never done it either. Dave told me yesterday that it's salsa dance. It'd be amazing. Congrats, too, on your wrestling thing. That was a random thing to do

that no one literally does. Life crisis, friends. Bringing back the glory days. You look like you're in beast mode, though. You're smashing people, dude. Way to go. We only showed you guys the highlights when I was smashing. The two I got smashed in, you didn't see anything from that.

Did you get wrecked by someone, or was it cool? Yeah, I lost two matches. I won five matches. So it all said and done. It's amazing. You just started training a few months ago for it, didn't you? We had three practices before we went because I hurt my neck. It was fun, though.

We had a great time. There's a kid's room at the same time, so next year I'm going to bring all the kids and collect. We're going to do a family party. Yay, a wrestling party. She thought she outgrew the wrestling. It'll be fun. Oh, my gosh. You might be my new favorite person on the entire planet.

I'm a big fan. We'll bring honey. We'll bring Colette honey too from our honey bee. I don't even know if you like honey. I love honey. Okay, we'll bring it. I'm going to get the bee and put the honey right in the jar for you. Oh my gosh.

Melt the bees. Melt the bees. You're going to melt the bees? Oh my gosh. I assume that's how it works. You got to melt the bees. Oh my gosh. I assume that's how it works, right? I don't know. Yeah, I don't know either. All right.

Thank you, Russell. Thank you. Thanks, you guys. Thank you. Thank you. Bye. Bye. Want more marketing secrets?

If so, then go get your copies of my two bestselling books. Book number one is called Expert Secrets and you can get a free copy at expertsecrets.com. And book number two is called Dotcom Secrets, and you can get your free copy at dotcomsecrets.com. Inside these two books, you'll find my top 35 secrets that we've used to become the fastest growing non-VC backed SaaS startup company in the world.