The Russell Brunson Show - 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

With TD Direct Investing, new and existing clients could get 1% cash back. Great! That's 1% closer to being part of the 1%. Maybe, but definitely 100% closer to getting 1% cash back with TD Direct Investing. Conditions apply. Offer ends January 31, 2025. Visit td.com slash dioffer to learn more. Hey everyone, it's 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 Latimer's, their free family checklist systems that they posted. It's free family checklist for entrepreneurial families. And it's, 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 10th 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 is, how important is it to have like my, uh, 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 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. And maybe 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 it. It'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, we're 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 answers.

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? Go ahead. All right. One of the cool things we did was um a little two years ago we had caleb maddox and emily um come out who 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 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. 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, he'll be nine in August,

but he's been putting a 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 um 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 um we're doing i'm doing an event this summer specifically for kids so I can bring my kids to it. Um, and so it's going to be, it's going to be really fun to kind of give them, um,

into that kind of thing. And then the other thing I really want to do, we haven't discussed 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 have a homeschool parents and kids. They've come, they had speakers on each topics. We'll stock market wouldn't be real estate wouldn't be internet marketing wouldn't be ebay like all these are things and everyone would sell the

courses and they had the kids each go and buy a course each each um each uh each each event and that become their curriculum to learn like i want to learn about stocks and they go deep next year on stocks or on real estate where 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 like we're new screen free summer no screens all summer and they were all just like that's like what are we going to do with them all day because you're going to be working like this sounds horrible for everybody and we're 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 there's a difference like 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 is like right now they're they're consumers sit there and they watch some stupid guy with blue hair play video games for four hours right they're watching somebody else who produced they're consuming and i was like i don't want you guys being consumers like you don't value

like the world's like better because you're a consumer you need to be producers we talked about um with them we're talking about like starting a youtube channel and then each of them gets their own little playlist and say hey every morning wake up and like ellie's our daughter who's obsessed with the craft channel like like wake up go watch a craft channel figure 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 channel like like wake up go watch a craft channel figure 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 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 push publish live and now you produce something 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 skill share 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 them 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 um yeah so like you can execute on it i just want to make sure i sure 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 because 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 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 and it's good. We've got 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 be curious. And then like, when it comes to money, do 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 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. And then on the other side, we don't do allowances. They can work for money. We have them pull weeds for money. We have them do books for money. Well, I guess for money. Yeah. Allowance is like, here's money because you're alive. Allowance, true allowance is like just pure socialism. It's like you have a 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 and Ellie, both like money. So Ellie will do something or like if they, she scores a 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's drives to the, I, 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 just not drive but like rides her yeah she gets there you know what we started doing is our kids love to play games and fortnight and all that and watch youtube and stuff but they can only do it now by spending points and so 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, 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 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. what would you say to them i say on my side like um i always think like i always tell people it's 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 like if i didn't marry colette there's no way like we couldn't we could have got here. It's just not possible.

And I think I'm so grateful for her, how much grace she's given me during the times of the hard times or the low times or the times I didn't produce or times I didn't show up right. It's so easy to hold judgments and to hold grudges and hold things like that, and she's never been that way. It might be something we get an argument about, but then it's gone and she forgives. 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 that's what i said oh it's so hard because i get the question all of the time like at funnel hacking or and people do run into us or um 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 really made me think, so 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 of 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 um take some time for yourself because otherwise you 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 an amazing that was like a mic drop i'm pretty sure you know that was amazing but there's 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 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 because I'm happy I'm clicking hey how's it going 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 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 and 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 an instagram something about like you guys think of a nice cool calm collective well i just screamed at 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 and 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 think there's always some of that, but it's tried to be like more like, but things are tough sometimes. Like I remember the 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 to share more of like the pain part because that people actually resonate with that way more than in the posture and people in. People crave authenticity.

Yeah. Now Russell's going to choreograph fights so that he can get great content. I'm just kidding. Okay. Oh, no. I 100% agree. I don't feel like... Sometimes maybe I'm like,

oh, we get dressed up a certain way. That's why when people come up, oh, I don't have makeup on but like who cares whatever for just seriously real people. You're at totes. Yeah. Yeah. Okay. You never do that. Sure you don't. He did that last time. I did that we just talked to Alison Prince and her husband. Oh. I don't know where it came from. It just came out. And he did it twice in that interview. He can't. He's not allowed to do that.

Don't do that. It just felt right. I can't. It's hilarious. I love it. It's not right. It's not. Okay.

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Like we want to 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, but equally and more so care about crushing it at home and just, just connecting with your spouse and be 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, you were preparing for the interview, Kled asked Dallin, one of our oldest twin, nine minutes oldest, anyway, about what he likes about this thing. And he's like, you know, 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, what? 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 ask me how can I have my own restroom at our house? Why can't I get a job like Russell's? And then like, so it's like funny because like both kids like the opposite direction. But I think it's important because it's like, like we live differently, right? Like most people, they, they wake up in the morning, they go to nine to five,

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 here in that yesterday. I'm like, God, that's,

that's how he feels. Cause he's embarrassed. Like we need to get them around more people who are creating. Cause, because you know, we, we hung out with Kayla Maddox, like that night he's writing a book. Cause Kayla was, you know, like the more that you're doing that, the more inspires, the 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 kid event in 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 and um 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 experience if if we i don't know when they'll be done or whatever but if we get them done in time we're i want to just give a bunch to click funnels to give to the families that come to the thing with their kids gosh um 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. Thank you. Triple. Thank you.

Thank you. And you were fabulous. Absolutely. 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 Zumba. Maybe some blackmail happening here in the future. Zumba's dancing. I did not know that. It's like really hard dancing. You don't stop. You keep going. I thought it was like a car, like a workout. I've never done it either. Dave told me yesterday that it's, that it's salsa dance or something.

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. 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? I lost two matches. I won five matches. 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 tournament at the same time. Next year I'm going to bring all the kids and Collette. We're going to do a family party. Yay, a wrestling party. She thought she outgrew the wrestling party. 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 Collette Honey, too, from our Honey Bee. I don't even know if you like honey. I love honey. Okay. We'll bring you some honey. We'll bring Collette 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, right? I don't know. Yeah, I don't either. All right.

Thank you, Russell. Thank you. Thanks, you guys. This was fun. thank you Russell thank you thanks you guys thank you bye one more marketing secrets if so then go get your copies of my two best-selling books book number one is called expert secrets and you get a free copy at expert secrets calm and book number two is called calm secrets and you get your free copy at calm secretssecrets.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.