The Mindset Mentor - The Most Important Investment

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Starting point is 00:00:41 and if you have not yet done so, hit that subscribe button so that you never miss another podcast episode. And if you're out there and you love this podcast and you have not yet given us a rating and review, however you listen to us, please do me a really quick favor. Get out your phone, give us a rating review on Apple or Spotify, however you listen to us. The more positive rating reviews that we get, the more that they show this to people who have never listened to this podcast, which then allows us to grow. So if you would do that for me, I would greatly, greatly appreciate it. Today, I'm going to be talking about the most important investment that you can make. Now, before we dive into it, I'm not a financial advisor, so you can take that from the very beginning. This isn't any financial advice or any of that type of stuff. I'm going to tell you what I am doing. I'm going to

Starting point is 00:01:21 tell you what I have done, and I'm going to tell you what I see some of the most successful people in the world doing in the past, but also right now. I've been getting a lot of messages about what to do, what's coming up in the future, what to do with money, how to use it. And the way that this came about is I had a guy that knocked on my door. He was this 19-year-old kid. He knocked on my door. And I love people that knock on my door because that's a hard job. And I didn't do door knocking back in the day, but I did in-home sales and it was hard. And so I love to see when somebody will put in the work and actually show up and do the hard stuff.

Starting point is 00:01:53 And so this 19-year-old kid, he knocks on my door and he talks to me about pest control and all this stuff. I ended up buying pest control from him and he ends up asking for some advice. And he said, I'm probably the youngest person in my neighborhood. And so he was asking me like, hey, how'd you get here? What did you do? All this stuff. Because I said, when I was younger, I was 19, was when I first got into sales. And I told him about what I had done and all of this stuff. And he's like, hey, man, I've got a question for you. I've got some extra money right now that I've been saving up. What do you think

Starting point is 00:02:23 that I should do? He said he was thinking about buying a truck. And I was like, number one, first off, does your car work right now? He's like, yes. But I was thinking about upgrading to a truck. I said, how much longer do you think your car will last you? He's like, at least another couple of years. I said, what I would recommend doing is literally holding off as long as you possibly can and putting that money in the right place. And he's like, well, you know, so what should I do? Should I put my money in real estate? Should I put in the stock market? Should I put in crypto? What do you think? And, you know, here's what I'll say. Real estate is solid. You know, if you leave something in there long term, it's really solid. The stock market, if you make the right investments and

Starting point is 00:03:01 you leave it in there for a long time, it's solid. Crypto, it's up and down, but I personally believe blockchain is going to be here for the long term. But what I told him is this, and this is what I think is important for everybody, especially with the economy that we're going into, but across all economies, this is important. The most important investment that you could ever make is investing into yourself. And that might sound corny and all of that if you really think of it, but it can go from reading a book and investing $15 into yourself, or it could be investing $15,000 into a business coach if you're trying to grow your business or whatever it is that you might be doing. The one thing that I know more than anything else, the best return on investment that I've had over the past 16 years is taking money and putting it into myself, getting coaches,

Starting point is 00:03:44 getting mentors, finding people who are where I want to be and saying, hey, how much would it cost for you to teach me how to get to where you are? And that started very first off with my very first coach where he had the mindset that I wanted. And I was like, hey, I want to know how you got to where you are. Can you coach me on mindset? And he just happened to be a mindset coach. He helped me out that way. Or if you're in a business and there's somebody who's further along in a very similar business than you, what would it be worth for you to be able to pay them and to have them teach you how to get to where they are and save yourself 10 years? Now, I do want to say one thing that's very important before we dive deeper into it. No matter what economy, all of the stuff that's

Starting point is 00:04:22 coming forward, you have to make sure that you have cash. You have to be able to pay your bills. You have to be able to make sure you have a little bit of a nest egg for like three to six months. And then after that, I think it's very important to take that extra money and invest it into yourself. Don't go out and buy a new car. Don't go buy jewelry. Don't go buy a nice bag. What I would recommend is if you're not where you want to be is doubling down on yourself, doubling down on your own personal education. I remember I had this really big moment in my life where I had just left the job that I was at and I was driving down the road and in a stoplight, I saw a man who was homeless and he had a sign in front of him. And I thought to myself,

Starting point is 00:05:01 okay, I'm in the middle of building this brand new business. I just left my job. I have a brand new house that I just bought. I had a new mortgage, all of this stuff. And I had this moment of clarity that felt so good. In the moment of clarity, I thought, even if I'm in the same position as this guy, where I happen to be homeless and have a sign on the road, and I lose my house, and I lose my car, and I lose everything. The one thing that no matter what

Starting point is 00:05:26 happens to me, no matter how much money it is or is not in my bank account, the one thing that can never be taken from me is my knowledge, is my personal development, is what I have put into myself. And this is why you can see it over and over and over again. Someone can become a millionaire, they can lose it all, and then within a couple years, they can get it all back again. Why? Because they had the knowledge that they needed to, in this case, become a millionaire. So once you have knowledge inside of your head, that knowledge can never be taken from you. And so doubling down on yourself is the most important thing. And it helps you long-term, it helps you create the life that you want to, but it also helps your family long-term. Think about how you working on yourself, trying to become better, putting your time, money,

Starting point is 00:06:09 and energy into yourself is going to make you better, is going to make your spouse better, is going to make your children better, and it's going to make everybody else's life around you as well. And so a lot of people will invest in the companies and that's great. Like I've invested into a few companies recently. I invested into a pasta company that's really low carbs. It's called It's Skinny Pasta. And then I invested into a low sugar, which is turning into a no sugar candy company. It's called Project 7. They're in the process of switching their name, but I don't think I can legally tell you what that new name is going to be. But those are two companies that I invested in, which is just like I invested into them.

Starting point is 00:06:44 But even though there's going to be a return on investment, sure, later on down the road, it's not something that I would say, hey, this is something everybody should do because that is way more riskier. Investing into yourself, there's basically no risk. That's the best part about it. And I'm not just talking about money. I'm talking about energy, investing the energy into yourself, making sure that you take time away from Netflix and put it into a reading or put it into a course or whatever it is

Starting point is 00:07:09 that might be. And so this kid is at my door and he's like, what should I do? I was like, you should invest in yourself. That's what you should do. He's like, what does that even mean? He didn't want to go to college. He had dropped out. He's got some extra money in his bank account.

Starting point is 00:07:20 And I said, what you should do is if you don't, I said, first off, do you want to be knocking doors the rest of your life? He said, no, absolutely not. I said, what do you want to be doing? He's like, I'm not really sure. I said, if I were in your situation, here's what I would do. You can take this with a grain of salt or you can do it, whatever is it you want. What I would do is I would go online and I would Google whatever it is that I'm interested in, conference. So if you're really interested in crypto, look up crypto conferences around you. If you're really interested in getting better at sales because he was knocking on doors, and maybe you want to get better at sales and marketing, why don't you look up marketing

Starting point is 00:07:55 conferences in 2022 and just see what's coming up down the road. Because what happens is this, you end up meeting people at those conferences. You end up seeing people at those conferences that are on stage and you're like, holy crap, that person did that? I didn't even know that that thing was possible. I told him that one of my mentors, who is also a friend of mine, I met him at a conference four years ago. He's in the same industry that I'm in. And at that point in time, my business was at like $500,000 a year. His business was over $4 million a year. And I was like, hold on. This guy's in the same industry as me. And his business is crushing my business.

Starting point is 00:08:33 We became really good friends. I ended up paying $25,000 to join his mastermind that year. So I paid him 25 grand out of my pocket because I want to be around him. I wanted to learn from him, all of that stuff. Now my business is actually doing more than his businesses. And I don't say that to brag. I say it because he was a piece of my success. And I think now that investing that $25,000 was one of the best things that I ever did. Now, you might not have $25,000 to invest, and I'm not trying to say that you should put all your life savings into something. What I'm saying is that will never be taken from me

Starting point is 00:09:05 in any investment that you put into yourself, into your own knowledge, into your own personal development, to your spiritual development can never be taken from you once it is inside of you. I don't know about you, but that sounds like an amazing deal to me. That sounds like something that can never be taken from me. I'm sitting in my office right now. Everything in my office could be taken from me if shit hit the fan, but they can never take the knowledge out of my brain. They don't have one of those little men in black mind erasers that Will Smith would walk in and erase my entire mind. What I have in my brain, I will always have in my brain. And that's pretty awesome if you start to think about it. Now a word from our sponsor, BetterHelp. How well would you take care of your car if you had to keep the same car your entire life? Well, you have the same mind your entire life,

Starting point is 00:09:53 so why don't you treat your mind the same way that you would treat that car? There are plenty of ways to support a healthy brain, like learning a new language, taking power nap, but there's also BetterHelp online therapy. I personally believe that every person should see some therapist at some point in time in their lives. It doesn't mean that there's anything wrong with that person. It just means that they're looking to improve. And BetterHelp is an online therapy that offers video, phone, and even live chat online-only therapy sessions. So you don't have to see anyone on camera if you really don't want to. It's also much more affordable than in-person therapy.

Starting point is 00:10:26 And good news is that you could be matched with a therapist within under 48 hours. And for those of you guys that are out there and love discounts, the amazing thing about listening to this podcast is our listeners get 10% off their first month when you go to betterhelp.com slash dial. That's betterhelp.com slash dial for 10% off your first month. Hey, everybody. It's time to grow into the best version of yourself. And one way to do that is through books. Books have always been and probably will always be one of the most essential pieces to learning and growing. And that's why I think Blinkist is so amazing. Although many books

Starting point is 00:11:02 have great content, a lot of them have what I like to call fluff stories. Stories that are put into a book to hammer, hammer, hammer a point home. But if you already get the point, there's not really a need for five different stories about that same one point. Blinkist, you have all of the most important ideas and takeaways from the world's top nonfiction bestsellers, all in 15-minute reads or listens. You can use these Blinks to get inspiration, learn more about books that you like to read next, broaden your knowledge, and get new perspectives. They have amazing books like The Subtle Art of Not Giving a Fuck, Atomic Habits, The Power of Habit. And right now, Blinkist has a special offer for just our audience.

Starting point is 00:11:39 Go to Blinkist.com slash mindset to start your seven-day free trial and get 25% off of a Blinkist premium membership. That's Blinkist spelled B-L-I-N-K-I-S-T, Blinkist dot com slash mindset for 25% off and the seven-day free trial, Blinkist dot com slash mindset. So when you look at the way money is spoken about, the way money is used, and the way money is, I guess you would say, deployed in the world, in the Western world, it's usually to go buy things. It's to go buy a thing. It's to go buy something materialistic. I think one of the biggest mindset shifts that everybody can have is not to just go

Starting point is 00:12:20 buy stuff because eventually you just have a bunch of crap everywhere. But what you can really do is if you really want to make the right investment is to make the investment into yourself. And so if you're out there and maybe you work for a company, you're 45 years old, you've been there for a while and you're not really fulfilled, but really what makes you come alive is making jewelry. And you're okay at it. You're decent at it. Is there a conference that you could go to? Are there people around you that you can meet up with? Is there a big city an hour and a half away from you and you can see if they have any sort of meetups for jewelry creators? Are there people where you can see, you can go on etsy.com and

Starting point is 00:13:00 you can see that this person's got a ton of jewelry, they're making a ton of money. Can you figure out that person's information and send them a direct message and be like, hey, is it possible, you know, can I pay you for an hour of your time and just see what they happen to say? See if maybe they have some knowledge for you. Because what happens when you do this, when you read a book, when you hire a mentor, when you take a course, when you go to a conference, what you're doing is you're collapsing time. You're taking time and you're collapsing it so you don't have to spend as much time. So like for instance, my friend who I told you about a few minutes ago when I joined his mastermind, I took all of his mistakes. I learned from all of his mistakes, all of his failures. I

Starting point is 00:13:37 found out what didn't work and what did work. And I didn't have to spend years figuring it out. He said to me, this works, trust me. And I was like, okay, I'll roll with it. And all I did was what he told me to do. And guess what? It saved me years. It saved me, that $25,000 saved me hundreds of thousands, if not millions of dollars. And so what I'm saying to you is the best investment you could ever make is into yourself. If you have a business, the best investment you could ever make is into your business. So instead of, you know, if you have an extra, extra money, instead of saying, Hey, how can I invest this in a crypto or the stock market or any of those things? No, no, no. Take that extra money, invest it into your business. You know, if you've been following along in the

Starting point is 00:14:16 podcast and you've been seeing the videos on, you know, Instagram or YouTube, TikTok, all that stuff you've seen around the new studio a little bit. If you follow me on Instagram, you've seen around the new studio a little bit. I invested a ton of money to be able to get a studio to invest into my business. Because what I happened to do is I was talking to a mentor of mine. I was like, hey, I've got some extra money. I'm thinking about putting X amount of dollars into this. He goes, no. He's like, that's like a down payment on a house. Why don't you, or a down payment on a place you can turn into a studio for you. Why don't you just put that money into a studio? I was like, man, that's a really good idea. Cause he goes, what you're doing now is working, isn't it? And I go, yeah. And he goes, and if you kind of like put more money into it,

Starting point is 00:14:57 would it work better? And I was like, uh, yeah. And he goes, so that's basically like gasoline on a fire, right? I go, yeah. And he goes, so why the hell would you take your money and put it into somebody else's business when you could take that money and put it into your own business and see 10 times the return by doing that? And so what I want you to realize through this, and some people might be like, well, but they say, don't put all your eggs in one basket. I am of the belief to put all of your eggs in one basket and then to watch that basket. I don't want to spread myself too thin. I want to go on one thing and one thing hardcore. And so what I want you to think about is this, is what do you want to learn? What do you want to get better at? Do you want to learn mindset? Do you want to learn personal

Starting point is 00:15:37 development? Do you want to learn business? Do you want to learn how to be an XYZ? What is it that you want to learn and want to get better at? And is there a book? Is there a conference? Is there a course? Is there a mentor that you can find to teach you that? Because nothing in this world can take away the knowledge that you put into yourself and knowledge that you gain. And so if you think about that and you're like, man, I'm kind of nervous with what's going on in the economy, with how the world is shifting about what's happening. The thing is I say, you've heard me say it over and over again at Pascal Buys, is when you see uncertainty outside of you, how can you build certainty inside of you? How can you start to go, you know what,

Starting point is 00:16:15 the world is shifting, the world is changing. It seems like careers are changing. A lot more people are going online and business is happening online. how can I figure out how to make myself fit for the future that's coming in down the road? What do I need to learn? Who do I need to hire? What books do I need to read? What do I need to do to make sure that I invest into myself? One of the things that I always say to people, and I say this a lot of times when I'm running, you know, I'm on stage, I'm talking to people, is I go, hey, who knows how much you spend on your car per month? And everyone raises, I'm like, who budgets your car per month? Oh, you spend $400. Okay. Raise your hand. If you do your phone, if you do your car insurance, if you do your mortgage, everybody's hand goes up. And I go,

Starting point is 00:16:56 who here has a budget for your own personal development? Nobody's hand ever goes up. And I'm like, you're telling me that you know how much you want to spend on yourself on your phone. You're willing to spend $150, $100 a month on your phone, $1,200 on the phone itself, but you don't have a budget for yourself and your own personal development. Seems kind of crazy, doesn't it? When you actually start to think of it and you should have some sort of personal development, business development, spiritual development, whatever it is you're trying to get better at, relationship development, parental development. You should have a budget of how much you're going to be spending into yourself. We spend so much money on things, but the best investment that you can make is

Starting point is 00:17:40 investment into yourself. What can you do to find the right person for you, to find the right books, to find the right conferences, to find the right mentors so that you can collapse time, you can learn faster, you can learn better, and you can get to where you want to go in life. And you know that no matter what happens in any economy, ups and downs, no matter where it is, that the knowledge that you build into yourself is going to be knowledge that's going to help you into your future and knowledge that can never, ever be taken from you. So the most important investment that you can make is in yourself. So make sure you spend your time, your money, and your energy wisely. So that's what I got for you for today's episode. If you

Starting point is 00:18:21 loved this episode, please share it on your Instagram stories and tag me at RobDialJr, R-O-B-D-I-A-L-J-R. Once again, quick reminder, at the end of this week, Friday and Saturday, I'm doing a live two-day event. So if you want to join, go to robanddean.com. Once again, robanddean.com. It is absolutely free. And we're going to be talking to you about how to build yourself into a person that can thrive in any environment, any economy, anything that life throws at you. So once again, it is robanddean.com. It's absolutely free. I'd love to see your face there on the Zoom call. And with that, I'm gonna leave it the same way

Starting point is 00:18:54 I leave you every single episode. Make it your mission to make someone else's day better. I appreciate you, and I hope that you have an amazing day.

The Mindset Mentor - The Most Important Investment

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