Thinking about a liquidity event? Click here to book your FREE strategy call.
April 17, 2023

Author And Thought Leader Patrick Cummings Shares How To Have It All In Business And Life (#221)

Author And Thought Leader Patrick Cummings Shares How To Have It All In Business And Life (#221)

“What has to happen over that period of time for you to feel like those three years were just like amazing?” - Patrick Cummings

Patrick Cummings is an entrepreneur, business coach, wealth management advisor, and published author committed to helping others balance their lives for happier outcomes. He worked in the corporate world for twelve years before deciding, when his children were toddlers, to start his own business and gain control of his time. An active member of his community, Patrick lives in Washington State with his wife, Brooke.


Click here to subscribe to The Sell My Business Podcast to save time and effort.

SELECTED LINKS FOR THIS EPISODE

pnpstrategies@outlook.com

Pnpstrategies.com

PNP Strategies (@PNP_Strategies) / Twitter

Patrick Cummings (@pnp_strategies) • Instagram photos and videos

PNP Strategies | Spokane WA

Patrick Cummings - Chief Executive Officer - PNP Strategies | LinkedIn

Book : The Family-Business Balancing Act: An Entrepreneur's Guide to Being a Family Man

Cockroach Startups: What You Need To Know To Succeed And Prosper

FREE Deep Wealth eBook on Why You Suck At Selling Your Business And What You Can Do About It (Today)

Book Your FREE Deep Wealth Strategy Call

Resources To Have You Thrive And Prosper
The Deep Wealth Podcast brings you a wealth of world-class thought leaders who share invaluable resources and insights. Click the link below to access the resources, gear, and books that either our guests or the Deep Wealth team leverage to increase success:

https://www.deepwealth.com/thrive

Contact Deep Wealth:

Help us pay it forward by leaving a review.

Here's to you and your success!

As always, please stay healthy and safe.

Hey there, did you enjoy the latest episodes of The Deep Wealth Podcast? I have a small favor to ask, and it could mean big things for you. 

Subscribe to The Deep Wealth Podcast and join us in changing the game for business owners like yourself. Subscribe now on your favorite podcast platform. By subscribing, you'll be ahead of the curve with insights from industry leaders, innovators, and disruptors shaping the business world. Whether you're commuting, at the gym, or unwinding, the Deep Wealth Podcast is your source for the next big idea that could take your business and health to new heights. Click on that subscribe button, stay inspired, and step into the future with us.

Also, have you considered leaving a review for The Deep Wealth Podcast? Your feedback fuels us to bring you top-notch guests and world-class content. Your insights are invaluable to us.

The Deep Wealth Podcast is proudly presented by our flagship 90-day Deep Wealth Mastery program.

Avoid the fatal mistake of assuming the skills that built your business are the same for your liquidity event. Up to 90% of liquidity events fail. Even worse, "successful" liquidity evens have business owners losing out on 50 to over 100% of the deal value. 

Why take that risk? 

Deep Wealth Mastery is here to boost your profits, enhance your business value, and arm you with strategies that guided our founders towards a 9-figure deal. From startup entrepreneurs to those edging towards billion-dollar revenue marks, our system is delivering real results.

Deep Wealth Mastery is a game-changer and the only program designed from our founders' 9-figure deal. 

Our graduates have had nothing but praise:

"I wish I had access to Deep Wealth Mastery before my liquidity event as it would have been extremely helpful. Deep Wealth Mastery exceeded my expectations in terms of content and quality," shared Stacey C.

"The investment I made in the Deep Wealth program pales in comparison to the value I've created and will receive in the future," said Sanjay S.

"A company that is attractive to sell is also a great one to own. The Deep Wealth Mastery program gives me the best of all worlds," voiced William S.

Subscribe to The Deep Wealth Podcast now and weigh in with your review. 

If you're ready to ignite your success journey with Deep Wealth Mastery, click here to email us to take the next step in securing your future.

Transcript

[00:00:00] Jeffrey Feldberg: Welcome to the Deep Wealth Podcast where you learn how to extract your business and personal Deep Wealth.

I'm your host Jeffrey Feldberg.

This podcast is brought to you by Deep Wealth and the 90-day Deep Wealth Experience.

When it comes to your business deep wealth, your exit or liquidity event is the most important financial decision of your life.

But unfortunately, up to 90% of liquidity events fail. Think about all that time and your hard earned money wasted.

Of the quote unquote "successful" liquidity events, most business owners leave 50% to over 100% of the deal value in the buyer's pocket and don't even know it.

I should know. I said "no" to a seven-figure offer. And "yes" to mastering the art and the science of a liquidity event. Two years later, I said "yes" to a different buyer with a nine figure deal.

Are you thinking about an exit or liquidity event?

Don't become a statistic and make the fatal mistake of believing the skills that built your business are the same ones to sell it.

After all, how can you master something you've never done before?

Let the 90-day Deep Wealth Experience and the 9-step roadmap of preparation help you capture the best deal instead of any deal.

At the end of this episode, take a moment and hear from business owners like you, who went through the Deep Wealth Experience.

Patrick Cummings is an entrepreneur, business coach, wealth management advisor, and publish author committed to helping others balancer lives for happier outcomes.

He worked in the corporate world for 12 years before deciding when his children were toddlers to start his own business and gain control of his time. An active member of his community, Patrick lives in Washington State with his wife Brooke. Welcome to the Deep Wealth Podcast, and I have a fellow business owner, author, thought leader, an all-round terrific guy with us.

We are gonna give you a different perspective coming out of this episode that I promise you, so, hang on to your seats you're in for a heck of a ride. But all good things. Patrick, Welcome to the Deep Wealth Podcast. And you know, Patrick, there's always a story behind this story, and actually, you have an interesting story.

So, what's your story, Patrick? What got you to where you are today? What's going on with that?

[00:02:28] Patrick Cummings: Well, my story I'll keep it as short as I can, but I was raised by a single mom. My dad left when I was five. My brother moved away to be with my dad when I was nine. My mom was a school teacher and as a school teacher, you know, make a lot of money and it was a tough time.

Didn't have my brother, didn't have my dad and I probably had too many males in my life from high school and different things that were probably not a good influence. So, growing up didn't know I didn't have anything. Started working at a very young age, mowing neighbor's lawns, things like that just to help my mom, and certainly miss my dad.

I would see my dad every other week for a day, day, and a half. Typically it was always at work for him. He was a school administrator, athletic director, so he was always working. My mom remarried a wonderful man when I was 18. They're still married today. My mom's 85. He's 89. Doing well, but he went through a terrible financial situation where he ran a company and had a hostile takeover and he didn't even know that the business was for sale. He owned 48% of it. And two years after the business sale, the bank walked in and shut the place down. And that's how his kind of career ended. And so, I had this desire to be able to help my mom and my stepdad.

But at the same time, my dad was still alive. I got into the corporate world and realized very quickly that I didn't wanna be a corporate pawn. And what I mean by that is they would pick you up on Sunday and move you on Tuesday and your family follows and you do whatever they tell you to do.

And I did that for 11 years when my daughter was healthy born I decided to make a change. And late 1999, got into the investment business and when I did that I found myself doing a lot of the same things my dad did and I was working way too much.

And my kids had come to work with me at some point in time and I was working at night and caused a lot of problems. And I just realized as they were getting into elementary school that I didn't want to continue that.

 And as I talk about in my book, I just got a lot of things wrong when I became my own boss and I just decided that there's so many men that I've met, that say they want to be an entrepreneur. They want to be an entrepreneur for time freedom, but they work way more than they ever would work.

If they work for somebody else, they're not putting their family first. They say they are, but they're not. And the other part is men typically aren't vulnerable.

And I am pretty vulnerable in my book.

[00:04:54] Jeffrey Feldberg: Well, let's talk about that. We'll talk about the book and for all of our female listeners out there, if you're saying, hey, you know what, I think I'm gonna tune out here. This is just for all the dudes out there, I'd say think again. You all have men in your life. And why not be the light, the light in the darkness?

For these men in your life that you can give them some counsel and some advice, maybe they can even go and pick up the book. And speaking of the book, it's the most important business that any of us have if really open and honest about it. The family business, that's the title of the book, The Family - Business Balancing Act: An Entrepreneur's Guide to Being a Family Man.

And Patrick, just before we jump into it, a quick story for you. I've been very fortunate. I have met incredibly successful entrepreneurs, founders, business owners, you name it. And when they get real and we get real in all my conversations, the one common theme that I hear from them is, you know, Jeffrey, it's great that I have all the material trappings and the financial success, but when I look back, it was a huge sacrifice.

I don't have many regrets they say, but one of the regrets is whether it was their immediate family or the parents, brothers, sisters. I didn't have the relationship or I missed family events and so, there's always moderation. There's always balance. For the listeners out there, we're gonna be talking about that today, and here are some guideposts for you to follow through.

Big picture-wise Patrick, when all said and done, what would you want the listeners to know once they've read your book? They've read the book, they loved it, they're walking away from it. What would be big picture wise, and then we'll go into the details. One or two strategies that they can anticipate walking away with.

[00:06:35] Patrick Cummings: Yeah. I would say one of the biggest things is and I've been challenged with this in the past, is I hear a great idea. I write it down somewhere. I get back busy in my everyday life and I forget about it. And I think the takeaway here is number one it's about making a little bit of progress.

It's not about being a perfect dad or a perfect mom or a perfect spouse, but it's about making a little bit of a move in the right direction. If it truly is important we all keep a time system, We all have calendars, we all have reminders on our phones.

Just put a reminder in there that, family first or you wear a bracelet. I wear a bracelet that my son made me. It's just a little tiny thing that reminds me of him and to take that step back and I'm doing this for my family.

[00:07:21] Jeffrey Feldberg: Some great advice. Just keep it front and center. And, as business owners, we do this all the time in the business. If something's important, what do we do? We schedule it in why? Because we wanna make sure we're not distracted. Well, family same kind of thing. Great strategy that you're suggesting.

[00:07:37] Patrick Cummings: And the one thing that my wife and I have been doing now for over 10 years, probably 12 years, is she is on my calendar every Thursday for an hour and a half for lunch.

[00:07:47] Jeffrey Feldberg: I love it.

[00:07:48] Patrick Cummings: and I'm not allowed, and it's by my choice. I'm not allowed to take my phone.

[00:07:53] Jeffrey Feldberg: I love that great strategy. And you know what I'm all about rituals. Rituals, which form our days, which turn into weeks, months, quarters, years, decades, and beyond. And it all starts with a single act on any given day. And so, Patrick, let's set this up. There's three parts to your book. I really like how you organize it.

Part number one, Dad's challenges. So, set this up for us in terms of, okay, what's going on out there for us dads that are looking to make a living, support the family. What are you seeing, Patrick? Maybe the hobby is, and the not-so-obvious, what should we know about this?

[00:08:29] Patrick Cummings: Well, for me we're all raised differently. My wife was raised in a family where it was very dictatorial.

You're gonna do what Dad says. It's best to be seen and not heard. And if you're heard, that's probably not a good thing. I was raised by a mom who was very loving and outgoing and embracing and so when you come together, I'd come home oftentimes, and there's a fight between them and I'm in the middle.

You do what your model, what did my dad do? My dad was the provider. He worked all the time. And so that's probably the biggest challenge I talk with a lot of young men, about young families, about is they were raised different. They don't discipline the same. And how do you don't wanna be the bad guy either? And so, that's one of the biggest challenges I think that we face.

[00:09:16] Jeffrey Feldberg: And we're gonna get into this in terms of the remedies, the prescriptions of what we can do. But that's a terrific setup in terms of what's there. We're talking offline very briefly about this, Patrick, and you can tell me if you think I'm way off base or if there's something to it.

The pandemic, and as I like to say, our hearts go out to all the people who suffered. Some people lost loved ones, friends, relatives, tragic. At the same time though, on the flip side, there's always two sides to a coin. And one of the things that the pandemic brought out for people's awareness is the importance of family time. Having a family life and hopefully, it's starting to make it easier in the workplace in terms of taking some of the time off, having that lifestyle that really supports that. So let's go into some of the strategies that you're talking about, so, in part two, Making Time for What Matters.

Right off the bat, and I'll throw this out there, would love to get your insight. It's taking yourself off default. And for the listeners, again, we're gonna have a link in the show notes. I encourage you to click on the link, get the book. This will be a nice prelude for you, but what's going on with that?

Taking yourself off default, Patrick, what do you want our listeners to know for that?

[00:10:25] Patrick Cummings: Well, taking yourself off default is talk about the fact that we're creatures of habit and it's very difficult to break those habits. My dad would come home from work if, when I saw him, he would sit down, he would take the newspaper, throw it up above his face.

And don't bother me cause I'm reading the newspaper.

How many times do we come home and we flip open our device, iPad, iPhone, whatever device you're using to do a mental download? We do that. And sometimes we need to do it, not at the end of the day, middle of the day. My wife does it after a really rough day in the veterinary office. But you gotta recognize that you gotta take yourself off of whatever you're defaulting to and slowly make some changes there. Maybe you come home and you've had a brutal day and you just don't have anything left. It's okay to talk to your family about it. It's okay to say, hey, I'm not uptight with you guys.

I had a really rough day. This is what occurred. Let me have a few minutes to myself to decompress, download, do whatever, but then switch it up. Don't turn off. Don't turn on, Monday night football and sit there and do that. What are your kids doing?

What is your wife doing? And my daughter, like a lot of girls loved horses.

So, we had a couple of horses and soI did not like taking care of the horses, but I was involved in that. And so, I would make sure that I was taking special time with her to do that. My son was into anything with wheels and motors. We'd buy engines that didn't work and we'd tear 'em apart. And I have a degree in economics, I mean, I work in the financial world. I'm not a good mechanic, but taking the time to show them that their interests truly matter and doing the same thing for your significant other. My wife is very creative, very artsy. We'll sit down and we'll do glass work together and we'll do glass fusing and so what I mean by taking yourself off default is number one, recognizing what is my habit that I want to break. And just again, oftentimes we place in front of ourselves this false horizon that we have to get it perfect. I'll tell you what, we broke a lot of bolts and we broke wrenches and bloody fingers working on these car parts.

It was that time of me showing my son that I was truly interested in what he was doing. And now today works Arrow McLaren IndyCar.

[00:12:48] Jeffrey Feldberg: Wow.

[00:12:48] Patrick Cummings: Just being involved in what they're doing and show them that you care. How often, I mean, it's embarrassing to bring this up, but how often do you go out to dinner and you look around the restaurant and you see everybody at the table?

With their device and they're not paying attention to one another. And I think we've really gotten away from that over the last several years. The pandemic made some of those things worse. It made, working from home I think compounded some of that problem because you couldn't get away from it.

Again what is it that you wanna make a little bit of a difference and ask? Ask your family for their input.

[00:13:23] Jeffrey Feldberg: Yeah, some good advice Patrick. And what I like with what you did of making the time for what matters, so, that's really the outcome, what we want to get, and taking yourself off default and the next three chapters for me really brought it home because one of the strategies you're saying is, and it's really mindset and it goes into rituals.

Who's your most important client? I think if we ask a hundred business owners, I don't know if any one of them would say, my family, but you bring it right up front and center. Make sure that your most important client in how you spend your time, how you look at things is your family, and what a beautiful way to do that.

What a, just a gift in changing the mindset. And then from there, you're also sharing, hey, learn to step away and then make the most of your time. And Patrick, what you said earlier, It's such a gift because I know for a lot of parents and we've all been there, our children have activities and, oh gosh, I gotta drive through traffic.

I gotta go there. I could be doing other things. But what if instead of having a business call with your kids in the car, instead of listening to the radio, we change it up, hey, I have uninterrupted time with my children or with my spouse, my significant other with my family. How do we make the most of it, as I like to say, magic moments and really take what could be the boring, the mundane, and turn it into memories and magical times in terms of what we can do?

Some terrific strategies that you're putting out there for us. And then you give us a foundation in parts one and two, and then in part three, you start giving us the strategies. I mean, ultimately, as you say, building better relationships, and there's a number of strategies that you put out there. Is there a favorite one that you have that you want to jump into for our listeners of those strategies?

[00:15:05] Patrick Cummings: Oh boy. There's so, many that pop into my brain. I mean, the first thing that pops into my brain was pray before entering. And what I did there was, I was showing up at home and a lot of times that conflict was there and, I would sometimes come into the house and be angry and I hung a little note off my garage door opener that said, pray before entering.

Just for me to pull it back and be grounded again. Okay. What am I doing? I'm walking into my house. I'm gonna be a dad, I'm gonna be a professional father. That part was very important. Not backing down on things that you said you were gonna do.

You know, how many times have, we said, we'll I'll do this tomorrow, or we'll get to that the next time?

And I really gotta, I really gotta take this. And then, you know, your family starts to say, well, there's an unkept promise.

So, if you're doing that, we need to stop. But, you know, ultimately to lead up to all of this is you have to recognize that we only have so much emotional energy per day. Unfortunately, we can't look at the computer and say, oh, I'm getting down to a quarter of a tank.

We have to figure that out. And if this is important, how much emotional energy do you want to retain so, that you have that left when you get home?

[00:16:14] Jeffrey Feldberg: Exactly.

[00:16:15] Patrick Cummings: How do we retain some of that and so, again, maybe you gotta put it on your calendar energy level. I've canceled meetings, I've canceled half of a day because of what occurred that morning. I wasn't gonna be in a good mindset number one at work. But I wasn't gonna be a good mindset when I was at home.

And just recognizing that also recognizing that next week doesn't have to be your best week ever. Because we only have a short amount of time with our kids.

[00:16:42] Jeffrey Feldberg: And Patrick, as you're going through this and you started to cover some of it and it got me thinking, there's listeners out there who are hearing both of us talk and to be a little bit on the cynical side, don't hold it against me, I'm just gonna throw it out there. I'm sure some may be saying this to themselves.

Okay. Yeah. Patrick, you have a great story. Good for you and Jeffrey. Sure. Nice book that's there and everything else. But you don't know my life, I'm busy. I don't have enough hours in the day. I'm actually building the business for the family. So, I can provide so we can have a terrific life, so we can have financial stability and ultimately financial freedom. All the things that we talk about in Deep. Wealth in a nine roadmap. But that's another conversation. But to get there, gentlemen, and to get there. I just don't have the energy or the time that you're suggesting to be able to do it. I mean, if I have time in the schedule, I wanna get another client.

I want to grow the business. so, Patrick. I'm not saying that's right and there's no judgment whatsoever against that. A lot of listeners find themselves in that situation,

 So, what did you do and how do we talk them off the cliff for someone who's having that kind of mindset?

[00:17:47] Patrick Cummings: Well, I mean, early on, obviously if you're not paying the bills, you're not gonna be able to open the door to, to go into your business. so, there, so, there is a level that you have to reach. You have to be able to pay your bills and your staff or whatever the situation is. Everything comes at a cost. How much do we have to have at the beginning of the month to survive the month?

We never sat down and talked about, how much time is it gonna take me to do that. Because when you're first building the business, there is no revenue. There's no income. And so I get that.

[00:18:15] Jeffrey Feldberg: Sure.

[00:18:15] Patrick Cummings: The challenge is, expenses expand to eat up available income. Work expands, eat up, available time. Expenses will expand eat available income. What level do we really need to be at? This young guy that I was talking to the other day said if I don't do $300,000 of income this year, I'm a failure. I said, what? Who put that on you? We live in eastern Washington. You make $300,000 you're at the top 1% income earners. So, who's setting that bar? And I think setting a realistic expectations, because, when I first started, I was knocking on doors six days a week. I mean, literally knocking on doors to introduce myself to try and get clientele.

I had to do that to survive. But they're at some point, number one, you can't do that forever because if you do, you're gonna live a lonely life.

Maybe it is. You say, okay, one day a week, I'm shutting it off. And you're not checking emails and voicemails and things like that. Balance doesn't mean I'm gonna spend 50% of my energy here and 50% of my energy here.

You can't do that running a business.

Even if you can give 'em one day, one night where everybody sits down at the dinner table and you're having a conversation about what's going on at school, what's going on in their lives, and you're spending that time with them that maybe you weren't. My dad works six days a week.

I don't recall him ever asking me really how I was doing when I was growing up and so.

[00:19:38] Jeffrey Feldberg: That's your chapter eight. Take an interest in having some love and respect and Patrick, with what you're sharing with us and for our listeners out there, if what Patrick is saying is resonating and you're saying, hey, yeah, that's me. Well maybe life is talking to you and you're not listening because if you're spending all the time in the business and sure. Startup mode is startup mode. We get that and getting a bu a business established, I get that as well. But if it's like that 24/7 year over year, something's wrong, something's not right, and it's time to take a step back and make an adjustment. I've yet to meet a successful person who later on in life said, geez, I wish I would've had more business meetings, or, I wish I would've had more hours in the office.

It's usually, gosh I wish I would've had more outings with my significant other or with my children, that's what we're talking about, so if your future self, really what we're saying here is if your future self can come back to present day, do this for your future self. To have your future self. Thank you.

Thank you for giving me such an amazing future with loved ones and memories and family around me. So taking an interest Patrick you're sharing that. You didn't necessarily have that growing up, and it sounds like you've made that course correction with your family and others in your life, so how has that made the difference? I mean, that's a terrific and easy takeaway strategy for all of our listeners. What should we know about that?

[00:20:59] Patrick Cummings: Well taken an interest. My daughter loves horses. My wife's a veterinarian, but she's not that into horses. And my son was playing lacrosse, but he was also really interested in BMX bicycles and doing tricks and all these different things. And then later on, obviously building engines and whatnot.

And so, my wife and I would alternate, if my son was doing an event one weekend here and my daughter's over here, we would alternate back and forth and I liken going to a horse show

[00:21:28] Jeffrey Feldberg: Sure.

[00:21:29] Patrick Cummings: to watching paint dry, like it is the worst.

My daughter was so excited that I was there and today, and my son too. My daughter today is one of my best friends. She's off in veterinary medical school like her mom. I don't see her hardly ever but she'll call me and ask if we can go do something together. And it's just so special. And our son is the same way. Unfortunately, we live in Spokane. He lives in Indianapolis, working on a race team.

So, what are we doing now? We're getting passes to all the events or tickets to all the events that we can, and we're traveling and seeing him at the races. I think those things kept our family together. Taking an interest with what my wife likes. I hate shopping. I hate shopping.

But I'll go along and we'll walk through different, stores and whatnot. And oftentimes I'll say, Hey, I'll meet you outside. I'm just gonna go out and watch people. But taking that time and taking an interest is really important. I wanna, I want to step back here for a second. You talked about something I said about my family being my most important client, and I want to put this out there, is I had somebody really angry challenge me on your family's not a client.

And I said you're exactly right. And one of the reasons I put that in there was the shock and awe factor of saying that, do you treat him as good as your best client? But how many times, if you're sitting with your best client, would you answer the phone in front of him or answer a text message?

That's my point. That's the point of saying that

[00:22:55] Jeffrey Feldberg: or you're with a prospective client or even a client, you're taking an active interest. So, how are things, tell me about your family. What's been going on in your world? And it's all too easy to ignore the people around us. The most important business, the family business.

I'm so gonna say it's a client. I hear what you say, but the analogy is spot on. And Patrick, let me ask you this before we start wrapping up. I know you also do coaching and you're out there making a difference, paying it forward, working with successful individuals. It would be great, almost like a Jekyll and Hyde kind of approach here.

Pareto's Law, 20% of the actions that we take are likely causing 80% of the outcomes in our life, and no judgment on those outcomes that they may be what we call positive. They may be called negative but for your clients, your coaching clients that are having some challenges, is there a typical Yeah, sure.

Most of my coaching clients are getting into challenges when they're doing these top one, two, or three things. What would that be of what you're seeing?

[00:23:53] Patrick Cummings: Well, I challenge people on the fact that number one challenge I see a lot of the people I work with is the fact that are you really spending the effort working. When you say you're at work.

Are you scrolling through Facebook or Instagram or whatever social media is there, and are you really putting the focus on work when you say you're there?

And then the second part is and I saw this as we started coming outta Covid, is the lack of interaction with other people. And some young guys in our office, we meet every month and they're going out after work. Going to the bar because they didn't have any time together. And I'm saying now time out.

How frequently are you doing this? Has this kinda reintroduction to society created an issue where you missed your friends so much? You're starting to go down this path of I don't want to go home because I've been at home for the last two years. Those are some of the bigger items that I am running into.

I think the work expanding to just fill up the time has really become more and more of an issue. My business partner you know, he has three kids and I commend that guy as far as he gets a phone call that he needs to go pick his son up from daycare or whatever. He's on it and other people just don't.

I see 'em going to the bar. I see 'em, going to the gym. I got my pilot's license this last year, finally. I've been working on it for years and years and years. Thank you. It took forever. But when I did that, I promised my wife it wasn't gonna take time from her.

I took that time away from work and what did it cost me?

It cost me extra income or, whatnot that I could have gotten at work. But I think going back to your question of one of those big challenges coming out of Covid is making sure that we are going back and we are focusing on our family. That's something I've seen quite a bit lately.

[00:25:49] Jeffrey Feldberg: Some sage advice coming outta there in terms of what to do and what not to do. And I like how you're saying, hey, if you're gonna do something for yourself, take it outta your schedule, not your family schedules your kid's schedule your spouse's schedule. I'll throw a stat out there, Patrick, we had a management consultant on the podcast, and don't hold me to the exact number, but I'm not far off.

And what they would do is for leaders and all of our listeners in the Deep Wealth community, their leaders in their own right, they would shadow them. And time track to the second what they were doing.

They said that when they added things up of how much actual productive, strategic, useful time the average leader is spending.

I fell off my chair during the podcast. It's single digits. I wanna say it's seven minutes or nine minutes in an entire day of what's going on. Now, granted leaders, we have people calling out to us and wanting time, and it's not always our own, but it just goes to show to your point, how are we spending our time?

Are we wasting our time on non-productive things or things we just shouldn't be doing at all that we could put either for ourselves or for our family? So, love where you're going with that. Patrick, we're at the point in the podcast. We're gonna start wrapping things up and I'm privileged to ask this question for every single guest you included, here it is.

Let me set it up for you. Think of the movie Back to the Future. In the movie, you have that magical DeLorean car that will take you to any point in time. So, here's a fun part, Patrick, imagine now is tomorrow morning you look outside your window. Not only is the DeLorean car there. The door is open and it's waiting for you to hop on in so you hop into the car and you're gonna go back to any point in your life, Patrick, as a young child, a teenager, whatever point in time it would be.

What are you telling your younger self in terms of, hey, Patrick, here's some life lessons, or some wisdom, or do this, but don't do that. What would that sound like?

[00:27:47] Patrick Cummings: Ooh, that is a tough question. I like it. I like it and I'm gonna come back to you with a question of my own. I would probably go back all the way to when I was going into college, and the reason is I had been injured pretty badly playing football and wrestling in high school and went through significant surgeries and rehabilitation and so I thought that I really wanted to get into sports medicine and my dad was all about me getting into sports medicine and being on the football field and working on football players and stuff. And I quickly realized that was not what I wanted to do. I couldn't work on people that were hurt cuz it just brought too much back into me and I didn't spend any time thinking about what is it that I really want to do.

What is my unique ability? What do I really wanna do? And so I went into college, got a degree in economics, went to work for a big corporate company. Going back, I really wish that somebody would have steered me in a direction of doing what you're passionate about. How can you be passionate about economics?

Not, I'm not dissing anybody that's an economist but it wasn't my passion, my passion's, helping people. And I wish I would've taken that route now, probably wouldn't have the kids, I have, probably wouldn't have the spouse I have had I done that. But if I was gonna do it over again, I would've really followed my passion.

And one of the things that I would challenge people, who are listening is, are you doing what you're really passionate about or are you doing it because you can make a lot of money? We only go around this plant, this thing one time

And do what really drives you, you're passionate about in yeah.

I would say do that. I ask that same question but in the reverse.

What I ask is, if Jeffrey, you, and I are sitting here three years from today having the same conversation. What has to happen over that period of time for you to feel like those three years were just like amazing?

[00:29:48] Jeffrey Feldberg: Great question as well to get people to think and put their mindset in the right place.

[00:29:52] Patrick Cummings: yeah. Yeah.

[00:29:54] Jeffrey Feldberg: And Patrick, we're gonna have this in the show notes for our listeners, so it'll be a point and click it can't get any easier. Again, we'll have the link for your book there. If someone wants to reach you online, what would be the best place for them to do that?

[00:30:06] Patrick Cummings: yeah. So P N P Strategies. PNP stands for progress, not perfection.

pnpstrategies.com is my website or they can email me at pnpstrategies[at]outlook[dot]com.

[00:30:20] Jeffrey Feldberg: Terrific. And again, for our listeners, pick up the book, the Family Business Balancing Act, an Entrepreneur's Guide to Being a Family Man. Links are in the show notes for you and Patrick, as we wrap this up, a heartfelt thank you for your wisdom, your insights, and your stories, and most importantly, for paying it forward.

And as you'd like to say here on the Deep Wealth Podcast, as we wrap it up, please continue to say healthy and safe.

[00:30:43] Patrick Cummings: Thank you. Thanks for having me. It's been a lot of fun.

[00:30:45] Sharon S.: The Deep Wealth Experience was definitely a game-changer for me.

[00:30:48] Lyn M.: This course is one of the best investments you will ever make because you will get an ROI of a hundred times that. Anybody who doesn't go through it will lose millions.

[00:30:58] Kam H.: If you don't have time for this program, you'll never have time for a successful liquidity

[00:31:03] Sharon S.: It was the best value of any business course I've ever taken. The money was very well spent.

[00:31:09] Lyn M.: Compared to when we first began, today I feel better prepared, but in some respects, may be less prepared, not because of the course, but because the course brought to light so many things that I thought we were on top of that we need to fix.

[00:31:25] Kam H.: I 100% believe there's never a great time for a business owner to allocate extra hours into his or her week or day. So it's an investment that will yield results today. I thought I will reap the benefit of this program in three to five years down the road. But as soon as I stepped forward into the program, my mind changed immediately.

[00:31:47] Sharon S.: There was so much value in the experience that the time I invested paid back so much for the energy that was expended.

[00:31:57] Lyn M.: The Deep Wealth Experience compared to other programs is the top. What we learned is very practical. Sometimes you learn stuff that it's great to learn, but you never use it. The stuff we learned from Deep Wealth Experience, I believe it's going to benefit us a boatload.

[00:32:11] Kam H.: I've done an executive MBA. I've worked for billion-dollar companies before. I've worked for smaller companies before I started my business. I've been running my business successfully now for getting close to a decade. We're on a growth trajectory. Reflecting back on the Deep Wealth, I knew less than 10% what I know now, maybe close to 1% even.

[00:32:29] Sharon S.: Hands down the best program in which I've ever participated. And we've done a lot of different things over the years. We've been in other mastermind groups, gone to many seminars, workshops, conferences, retreats, read books. This was so different. I haven't had an experience that's anything close to this in all the years that we've been at this.

It's five-star, A-plus.

[00:32:56] Kam H.: I would highly recommend it to any super busy business owner out there.

Deep Wealth is an accurate name for it. This program leads to deeper wealth and happier wealth, not just deeper wealth. I don't think there's a dollar value that could be associated with such an experience and knowledge that could be applied today and forever.

[00:33:15] Jeffrey Feldberg: Are you leaving millions on the table?

Please visit www.deepwealth.com/success to learn more.

 If you're not on my email list, you'll want to be. Sign up at www.deepwealth.com/podcast. And if you enjoyed this episode, if it added value, if you walked away with some new insights and strategies, please leave a review on your favorite podcast channel. Reviews help us reach new listeners, grow the show. And continue to create content that you'll enjoy and as we wrap up this episode as always please stay healthy and safe.

Click here to book your free exploratory strategy session.

Enjoy the interview!