“Leap a little bit further because you will have leaped and you will have failed, but you got up every time and you got up stronger, and so let's accelerate that education” - Tim Redmond
For over 35 years, Tim Redmond has been growing highly successful businesses including his work at PriceWaterhouseCoopers, growing a software company from 2 to 400 employees then selling it to Intuit, Inc. and helping over thousands of business owners gain time and financial freedom. Tim is also an author and speaker throughout the world whose leadership maxims have been featured in John Maxwell’s 21 Irrefutable Laws of Leadership.
He currently leads one of the most successful business growth coaching firms in the world whose team has led over 1500 business owners through their unique and powerful processes to improve all areas of their business to more than double revenues, triple profits and realign their businesses to releases the owners to boldly live their purpose, love their families and better serve their communities.
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Your liquidity event is the most important financial transaction of your life. You have one chance to get it right, and you better make it count.
But unfortunately, up to 90% of liquidity events fail. Think about all that time, money and effort wasted. Of the "successful" liquidity events, most business owners leave 50% to over 100% of their deal value in the buyer's pocket and don't even know it.
Our founders said "no" to a 7-figure offer and "yes" to a 9-figure offer less than two years later.
Don't become a statistic and make the fatal mistake of believing that the skills that built your business are the same ones for your liquidity event.
After all, how can you master something you've never done before?
Are you leaving millions on the table?
Learn how the 90-day Deep Wealth Experience and our 9-step roadmap helps you capture the maximum value for your liquidity event.
Click here to book your free exploratory strategy session.
Enjoy the interview!
[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.
For over 35 years, Tim Redmond has been growing highly successful businesses, including his work at Price Waterhouse Coopers, growing a software company from two to 400 employees. And then selling it to Intuit and helping thousands of business owners gain time and financial freedom.
Tim is also an author and speaker throughout the world whose leadership maxims have been featured in John Maxwell's 21 Irrefutable Laws of leadership. He currently leads one of the most successful business growth coaching frozen the world whose team has led over 1500 business owners through their unique and powerful processes.
To improve all areas of their business to more than double revenues. Triple profits and realign their businesses to release the owners to boldly live their purpose, love their families, and better serve their communities.
Welcome to the Deep Wealth Podcast, where we help you extract both your business and personal Deep Wealth. But for today, we're really gonna focus on your business deep wealth, pun intended because, for most business owners, you've got the golden handcuffs.
Your wealth is locked up in the business. And truth be told, you probably haven't even begun to unlock the majority of it. How do you do that? How do you grow your business? Forget a liquidity event, forget all of that stuff. How do you just create a thriving business? What a loaded question, but it's a real question.
And that's what we're gonna be talking about today with our guest, Tim, and you heard a bit about him in the official intro. But Tim, welcome. Welcome to the Deep . Wealth podcast. A pleasure to have you with us.
[00:03:10] Tim Redmond: Yeah, really good. I'm looking forward to diving in. I think it's gonna be if not entertaining, hopefully very helpful to our folks that gather around to watch this so it
[00:03:19] Jeffrey Feldberg: From your lips to God's ears. We're gonna do that. And there's always a story behind the story, Tim. So what's your story? What got you to where you are today?
[00:03:28] Tim Redmond: I'll do this very brief, but I'm one of 11 kids, so my parents they love sex or they love kids, or they love both and I've learned all kinds of negotiations, we're jumping in and helping the family even, you know, at a young age. And that's just what I grew up doing. But I started out studied accounting, went to work for Pricewaterhouse Coopers, and but all this time I wanted, I just love the idea of running and growing businesses and so I hooked up with this guy and he is a new and starting this software company. We grew a software company and as a CPA and he was a CPA.
We wrote it, we wrote a bunch of programs for CPAs. And we grew it up about 15 years. We became the fourth-largest distributor of CPA software. We had intuit by us the Quick and QuickBooks people on the professional side and went to work for them to help transition. We had 22,000 clients at that point.
And after that, I started a nonprofit, traveled around. And here's what's interesting, I would travel around talking about leadership, effective leadership, pers go winward. We outward leaders define reality. Lot of great concepts. And talk about growth and business. And I would have people come up to me afterwards, entrepreneurs would come up, business owners and say, hey, do you offer coaching?
I go sure, what's your question? And sometimes I'd sit down there for an hour helping them not realizing that there were people with these million-dollar coaching businesses. And so I shifted into a focus on coaching rather than travel around speaking.
And so we coached through probably a couple thousand businesses, a lot of contractors, home builders, plumbers, electricians, those contractor types. Also specialty docs, pain management chiropractors, urgent care centers. So those are the two main areas that we focused on. But right now we, we maintain about 150, 160 clients that we coach on a weekly basis.
I've got a team of seven coaches, and we're growing, Thank goodness we're growing on that, and just by word of mouth is just people's results that they're getting. So that's where I am now and I love what I do. I wake up early. Cuz I love to do what I do.
[00:05:49] Jeffrey Feldberg: That's phenomenal, and I suspect you are probably not looking forward to Friday, unlike everyone else because it's, my goodness, I gotta wait two more days till Monday so I can get back in the saddle and make the difference
[00:06:01] Tim Redmond: as I get older in age I have promised my wife, I said, Listen, I'm 61. Last year I wrote a 25 years and working, there's no retirement there, but I'm gonna take more time away from the office and I've agreed to chase her around real fancy resorts. And so that's our negotiation right now.
And I chase her until she catches me. And so it's a great, everybody wins with this deal.
[00:06:24] Jeffrey Feldberg: That's terrific and you're really walking the talk and leading the way the business is running without you. While you're doing that. What better way to do it? And, before we kick off things I have to tell you, and for our listeners, we'll have this in the show notes. You can click on a link to get to Tim's book and check out the title Power to Create: The Ultimate Guide to Eliminate Scarcity and Massive Results for Yourself and Others and you can't see Tim holding up the book very proudly. We can
[00:06:52] Tim Redmond: Oh yeah.
[00:06:53] Jeffrey Feldberg: but
[00:06:53] Tim Redmond: Sorry about that.
[00:06:54] Jeffrey Feldberg: That really says it all. So why don't we start at the opposite side of things, because offline, you and I were talking and I shared when I first got into business. My best friend was failure, which was hard, but I learned that failure when you can understand it and work with it, has many gifts and it often teaches you more than success.
And so generally speaking, and I know every business is different and in its own right has its own story to tell. That said though, Tim, generally speaking, maybe Pareto's law here, 80% of the problems most businesses face is probably coming from 20% give or take of specific issues or things that they're doing or not doing.
So why don't we start with that? When a business owner approaches you, Hey, Tim, help me take my business to the next level, and you and your team. Now take a look at that. Where are business owners going wrong? Why don't we start with that?
[00:07:46] Tim Redmond: So with our clients now we're going after more Main Street companies or 5 million or less. We do have a number of companies, much more than 5 million, couple over a hundred million, but most of our mainstay is our main straight businesses under $5 million. And so we find that they come to us and says, hey, help me get more quality leads.
I wanna get more sales and get more profits and I just wanna grow my business, but I don't know how to get these leads. The big mistake that they make is they want leads, but they haven't defined their purple cow. Remember Seth Gooden's book 20 years ago? Purple Cow. It still works today.
And the idea for these great listeners is, his kids were in the back and they were driving out of Paris on vacation and they were getting excited. When they pass a farm, they look at the black and the brown and the white cows and they go, Look at the cows. Look at the cows.
And then after about four or five of these farms, you knows, say, hey, we're passing another farm. Here's some more cows. Ah, we've already seen him. And Seth thought about it, said listen, if they were a bright, shiny purple cow, they'd still be talking about it 20 years later. And so a lot of business people don't take time to find the purple cow in their business.
How are they unique? Why should these customers, these prospects, choose them and not all the other alternatives, why should, why are they the better alternative? Why are they the best choice? You've gotta be able to say that in very simple terms. And it's even good, Jeffrey, to to use some humor with it.
We create this one sheet where it really, it has the, here's what we do, and here's what the typical person does. And their list is all great. And the typical person's loser, they usually laugh at that. But I remember one plumber coming in, driving. He is a local plumber here in Tulsa, Oklahoma.
And he had a sign in the back on the side of his truck and says, We wear belts. And I go, Why is we wear belts? Why? He goes plumbers are famous for showing off their butt cracks when they work. And he said, we just wanna work against that. So we actually built part of this purple cow around this no-butt crack guarantee.
You know, So if you see our butt crack during our time at your house or your office working labor is free. Honest to goodness Jeffrey, people would call up laughing saying you're the no-butt crack plumber, and boom, I want you to come. So, you know, There's just the purple cow is one. There is not offering a no brainer, a offer, a no brainer offer is like, you know, they look at it and it's a real simple to take the next step, I remember talking to one guy, he called me, he said, hey, I've got this business. I'm trying to launch it, this cold calling and I said tell me about the workflow.
What's the first meeting? The first meeting is two hours. I said You've got a date on the first date. You're asking them to marry you. He goes, Huh? I said, A two-hour. Who's got time for that? Respect their time and grow their trust. Start with maybe a, first short call for a 10-minute call. Then the assessment, and having those no-brainer offers, you know, hey, dollar for the first visit, or whatever it is to get their attention. A lot of folks make it difficult to take the first step. And so I've got I can go literally on and on for 50 examples of different mistakes that business owners make. So we can dive into this further if you want, or wherever you want to go with this, Jeffrey.
[00:11:17] Jeffrey Feldberg: Well, You know what's interesting in your book, the first section, which you call identify, which is actually very similar to the nine-step roadmap here at Deep Wealth, we call that the big picture. And in the book, you're talking about what's the mess? And then cleaning up and an interview with the creator, and then the lies of scarcity.
So why don't we talk momentarily about the lies of scarcity? Because so much of business, and this frustrates all those logical people out there who are spreadsheets and excel and Google Sheets and everything else, that life doesn't happen in business unless it's in a complicated formula in a spreadsheet.
But oftentimes the success is on the art side of business, not the science side. And so talk to us about the mindset. So what are the lies of scarcity for our listeners?
[00:12:02] Tim Redmond: Okay, so there's three main lies that I talk about. The first lie is there's not enough. And when you think about there's not enough, you're gonna be striving your brain's gonna be solving towards there's not enough. And it wants to make sure that becomes true in your life.
And it shuts down a lot of the creative capacities, which leads to the second lie that not only is there not enough, but I must not be enough. So you begin to sit down when you should be standing up, you're reacting against instead of creating towards. You're trying to survive rather than thrive. And these are nice little catchy sayings, but it's really true.
It's the emotional state that you have as you approach your business. Is it bigger than you? Is it overwhelming to you? Is it not fair or, Are you more than enough? And do you have more than enough? And are you gonna figure out the way and are you capable instead of being capable? So that really has a lot of plan, at least the third lie.
And we think I can't enjoy where I am now because I don't have enough and I'm not enough. And so we always, we come into this third line that says more is always better. That goes really deep and I can spend some time on that. But the more is always better.
It gets, you always looking, not paying attention to now the problem for you to solve now, the solution for you to bring into the earth now to get your full attention now. And so you find that you're always looking somewhere else and that lack of focus and the lack of intensity of.
Really hurts a business. I'm helping my son. He's 26 years old and I've got three sons and a daughter. My youngest son, he played football in college. He's built like a Greek statue just, and he started this online fitness program, and the first couple months it just stared at him.
He stared at it, stared at him, and nothing was happening. And I go, listen, your energy your business is begging you to pour your energy into it. It's lacking energy. It cannot generate energy on its own. You're not gonna build it and come. You gotta work your ass. To get people to come and get going here.
So we had this goal in this third month that says, Okay, let's go for 20, Dad, There's no way. And get 20. I said, Let's set your mind to it, and let's see how we can do it. We broke it down and what actually creates these calls and this and that, and so we mathematically mapped it out and followed that plan and he closed 21 people.
[00:14:34] Jeffrey Feldberg: Look at that. That's amazing.
[00:14:35] Tim Redmond: And so I'm just telling you that there is massive growth in your company and a lot of times when people will say this, almost not connected. They say the biggest obstacle in my business is the person I'm looking at in the mirror. That's true, but how, what? How are you stopping that?
Don't just be self-degrading. Get your business in motion it. People need your product or service. Don't be selfish, don't be lazy. We need all of you to show up. So stand up instead of sitting down, go forward instead of getting blown away back. It is tough and you do it while you're crying and when you're afraid, that's okay.
That's how business goes. I'm sorry, I sound like I'm preaching now. I don't mean to be, but I'm telling you, Jeffrey, I'm reminded. He's now a friend. His name is Michael. And he builds sheds in Arkansas. Okay. And he had actually had a pretty good business. He was doing 80 - 100 thousand dollars a month, but he wasn't making any profit.
He was like $5,000 hardly paid for his labor and so he is in his late 66. And he's no retirement and just working 60, 70 hours a week in the business. And after a few months of working with him, we began to free him up, and really, two years we built him to about 500,000, between 5 and 600,000. He had went from a zero to 5% net income to 15 to 20%.
He's making 50, 75, a hundred thousand dollars a year. He's now. Spending three weeks a month chasing his wife around their condo in Florida one week a month to run the business. And so your business can be a vehicle that take you to where you wanna go. You just, you gotta pour into it though.
[00:16:25] Jeffrey Feldberg: Really like how you look at that whole mindset because isn't it the truth? I like to say our inner thoughts create our outer world. And so if you have that imposter syndrome, I'm not good enough, and why me and who am I to be doing? You've lost before you even begun. And so how you tackle that right up front is terrific.
For our listeners, something to think about. Tim, you and I were both people of faith and spirituality and I know in your book you talk about God, and for some people that may turn them off. And if you happen to find yourself in that category, maybe inside of the term, God.
Think of maybe spirituality or the universe or whatever's going to really turn your crank on that side of things. And preface that because I wanted to circle back to something that you said in your book, and it's actually chapter nine, and you say, God loves Monday morning. And most people when they think of Monday morning, They dreaded.
In fact, the statistics are out there and don't hold me to this, but I wanna say that the most number of heart attacks and deaths are on Monday morning. And they attribute that to people hating their work, not wanting to go in. And that's their ultimate Exit. And so you know what's going on with God loves Monday morning.
[00:17:39] Tim Redmond: Okay. For Jewish people or people that worship on Saturday, Or it may be Sunday. That's a formal worship day. And we think that's the day that God really gets praised and God gets, that's God's favorite day and my theology and no matter where you are, and you understand the DNA molecule that allow what leads you towards some intelligent design.
So however you define that intelligent design, I just happen to think it's personal and not impersonal, but God loves to create. As a matter of fact, that's the first verse of the Bible. In the beginning, God did the thing he loved to do most and he set a pattern cuz it says in the Bible he created us in his own image.
And were created to create. And so when you show up at work, it's a creative process. Yeah, but all I do is make widgets and move on, so doesn't matter. All I do is sweep the floor. Well do it like, Martin Luther King Jr. said, is just do it as if you're sweeping the course of heaven. Do it with all your heart.
Cuz it's a creative process and God loves to join us in that creative process. He gets more excited about the creative process working in us and through us. And it's a very personal thing. Work to me is a very spiritual thing. I have spoken to a group of over 20,000 people in Bogota throughout the world. And I feel the presence of God is much on me talking to a plumber. I talked to one plumber that he wrote me a text not too long ago. He said this is the first vacation I've ever been on when my business is making money when I'm on vacation.
Because when I would go on vacation, the business would go on vacation. But I mean now he was making about $3,000 a month. And now he's making 35 to $40,000 a month in profit besides paying himself a good salary. And so these kinda stories is just I love what I'm doing. I feel like this is, I'm helping to liberate people in their business so that their business works for them instead of them and just having a dreaded job that leads nowhere.
[00:19:50] Jeffrey Feldberg: As you talk about that, Tim, what's going through my mind? I'm thinking of a couple of things actually. Number one, always go the extra mile. Regardless of what you do, you know, it's not a to-do checklist that you check it off. It's just as an entrepreneur, as a business founder, hey, we make the world go around.
And part of that is always going the extra mile, but, and this is the key thing, not expecting anything in return. And then the second point to what you're saying, which again, my wheels we're turning as you were talking, is the passion when we're passionate about solving a very painful problem.
That passion oozes through. We go the extra mile, we have the extra oomph to get things going and get things out there. And so why don't we do a 180 now because you're talking about where some businesses tend to fall offside? So let's do a quick thought experiment. And it could be any number of your clients here.
They've been working with you for a while. You've put into place your strategies, your coaching, your system, and now they're firing, and all cylinders, things are working exactly as they should be. What's the difference? Are there three to five things that perhaps they're now doing that they weren't doing, and what would those be?
[00:21:02] Tim Redmond: Okay to narrow down to three to five is I wish it was more simpler than that, but let me just go, not in any particular order of importance. When I think about another plumber who is he and his brother-in-law were working about 80 to 90 hours a week and hardly any profits and just working themselves to a frenzy.
And so we got a hold of them and we built the foundation of their business on what we call reputation marketing. That is the capital that they created with the customers they had that loved their work and built on the foundation. And we did that through the Google My Business and optimizing that.
Helping them get over a thousand Google reviews legitimate customers that came in. And we have a very effective process on that. And they have built that business from just based on that reputation. And then just a number of other things we did we cut the marketing budget in half through this program and they grew to my last conversation with him was a couple days ago, and they're at $900,000 a month. They've literally grown 10 x He's got the one partner, I didn't talk to both of them, but he's got well over a million dollars. He's bought some property in a certain country that he wanted to vacation in, and he's just thoroughly enjoying life and he's working about 40 hours a week and sometimes he works less than that. That's one thing. Another thing here is we had a client that was barely able to run three jobs and they were construction company and we'd talking about this power planning process that's beginning, the beginning, beginning of the day, we have them start out with their todo list and their calendar, and they'd go through all the emails, they'd go through all the text messages, they'd go through like these questions that we would design questions uniquely to their business so they can touch every aspect of their, each stage of their pipeline, open contracts, existing contracts, staff that need to be addressed.
And he thought through it all and he put it on the to-do list. And the calendar. And the calendar is the most important things. And he began to, he increased within a matter of months of going from managing three jobs to managing 10 jobs easier and more succinctly through that planning process.
We have another construction company in Dallas that he is a real strong leader and he wanted to control everything. And I said just there's this, I call it Matthew 25 Management System. It's from a passage, the Bible, but it's where a master went away and gave these servants some talents or some money to multiply it.
And when he came back, he had them come in and met with them. They gave account of what they did. I said, who ran the meeting? The master or the servant? He goes the servant they, Yeah. So change it to that, where they own what they're doing. They get clear expectations and then we're gonna compare what did they actually do?
And they give a report and he was behind and remodeling these apartments, Jeffrey, he was behind by three months, which is just killing their profits on this deal. Within two months of doing this, he ride the ship. He released the staff to fix their own problems, and he finished the project two months ahead of schedule.
[00:24:40] Jeffrey Feldberg: Wow. Powerful. And so when you look at that, and we've talked about the end game here, of what's happening when you're involved, when they're putting your system in place. What's changed with the business owners? So if we could take a snapshot in time, and Tim, we took a snapshot of the mindset and inner talk and whatever else is going on with the business owner.
And then we fast forward to any one of the stories that you share, the success stories what's going on, what's changed for the business owners what has happened to their inner game?
[00:25:14] Tim Redmond: So they, first of all look at their business from the mindset of you're a tool. And you're a servant that works for me instead of reporting and just being victimized by the business. So they get an owner's mindset and owners have to own stuff, good and bad, that mindset of ownership is really key.
A lot of people own a business, but they don't have that mindset of ownership, of just they own it. And if it's to be, it's up to me.
But in doing that, another aspect that I see that really hinders a lot of business owners is they will try to over control. And what they can't control, they shut down.
And there's a continuum with everything. And I think there's an antithesis of control. The antithesis of control is growth.
So we have to learn to give up control in order to get the growth. It doesn't mean to go crazy, but you have planned training and you're giving people responsibility, and you do the three-step process of training anybody.
First, you show them second, you do it together, and three, they show you. And you take time for that process for them to really get it down, but then they begin to own the business. And now you can begin to pull back and look at. It's just like what I'm doing right now. Another one of my sons runs his business.
He owns part of the business. He gets paid really well, and I'm busy looking at buying businesses. It's funny that you're into helping to sell businesses. I went through your book, I haven't read a word for word, but I went through and it's a lot of, pretty, very well written here, but a lot of really powerful concepts in it.
And the idea is just being able to let go and let them make mistakes and let them correct it. And you have that system where they come in on a regular basis. For my son and I, we meet twice a week for businesses that I buy and own. The structure is that after I get them set up here, that either myself or one of my coaches will meet with the head guy one hour a week and that's it.
Boom, that's it. And they stay on track with it and they give account to things. And that's a really important to learn to let go so that people can begin to grow your business outside of your direct control.
[00:27:43] Jeffrey Feldberg: We talk about letting go. Again, we say here at deep wealth, the same thing just in different ways, and it is actually one of our X-Factors that insanely increases value of a business. This is step number two of our nine-step roadmap, and we ask a simple question. And Tim, if you ever wanna see business owners squirmish and just wiggle around and not give you a direct answer, does the business run without you?
That's the question. And unfortunately for most business owners, the answer is no. Even with a business that has a management team, more times than not, the business owner just holds that management team and they can't make a decision without the blessing of the business owner. And so with what you're talking about of, hey, give up that control, bring in people better than you, smarter than you to run the business so you can go back to doing what you do best, finding the next painful problem, creating a market disruption, taking the business to the next level.
You're putting it out of business so you can go back into a bigger business. So absolutely resonate with what you're saying. You know, For our listeners, quick check in with you because Tim's been talking about different businesses and some are more in the plumbing or other kinds of areas, and you may be thinking that's all fine and good, Tim, but hey, I'm a corporate person.
I'm in the corporate world, and I wanna remind everyone that Tim came from the corporate world. He had a software company, high tech grew from two people to 400 people using the exact same principles. And that's what I love about business.
And we find the same thing in the Deep Wealth experience. We have manufacturing companies, we have high-tech companies. And they do different things, but best practices are best practices. So for our listeners out there, really take to heart what Tim is sharing in terms of the strategies. It really applies for, regardless of what industry you're in, it's gonna apply to what you're doing is just a matter of knowledge is only power if you know what to do with that knowledge.
And Tim is sharing with us both the knowledge and what to do with that. Tim, you've talked about the change in mindset that business owners will go through once they've gone through your system and they've become acclimated with that. And one of the things that I imagine comes outta that, and you talk about this in chapter seven of the book, Purpose changes everything.
And it sounds so simple on paper, but as I like to say, let's not confuse simple with simplicity. So talk to us about that. So what's going on with purpose changes everything. You know why that and how has that made a difference?
[00:30:08] Tim Redmond: Yeah. Purpose is really the why. Why do I have a plan till I'm 85? Why do I plan on writing another 25 year plan when I'm 84. There's a concept I talk about earlier in the book. Its called First be fruitful, then multiply. And so if we're not creative and we're not being fruitful here, there's something in us that dies.
And so to have a purpose is to have a why. What drives you? I wanna take good care of my family. Great. Awesome. Thumbs up, two thumbs up. I wanna leave a legacy for my kids. Good, great. Hopefully, it's as much education as this money, cause if they don't understand the money thing, it's just given to them, they're not gonna value it as much.
Whatever your why is, for me, I have actually done formal ministry and I've done this kinda work. I've done accounting work, I've done auditing work, I've done consulting. And all of it. I've made it, I've made it serve my purpose. This is equipping me so I can come up with better solutions for the people that I wanna serve.
I got a guy that I started coaching with him and he was at $10 million. He's now at about $120 million. And we just went on river cruise a couple months ago with our wives and actually it was, that was pretty good. Anyway but I've been challenging him for the last couple of years to add a zero to his operations and, but through a very different way.
And so he's really now starting to wrap his brain around that. And he sees that his purpose behind that is he doesn't need anymore money. Right now he's making over $10 million a year in profit. And so he's no more free government cheese, no more food stamps. He's off of all that, It's my warp sense of CPA humor.
But anyway, so he's got a purpose beyond just making money for himself and his kids and his family, and doing great trips with awesome people. And so he really has a purpose now of funding certain types of operations that's gonna help people in a certain way and it requires a lot of money.
And so now he's got like a drive behind to say, boom, I can do this now. And he set his mind to, So if you don't have a purpose to work towards, is kinda like, you know, if you don't have a clear goal to go for and the why behind it. You're gonna allow distractions and disappointments and obstacles to shut you down or to slow you down, or to stifle your kind of energy you need to pour in your business.
So that, that's what we're talking about here is a purpose that drives the why of what you do is really, it drives the what you do and how you get it that.
[00:32:57] Jeffrey Feldberg: And Tim, I'm gonna throw something your way in. I'm a big believer that the only silly question is the one that never gets. So at the risk of asking a silly question, but not at the risk of not asking it. For many business owners, they're doing what they're doing. They're on autopilot, and maybe they've just forgotten over the years the why behind the business.
So if I find myself in that situation today, what strategy or advice could you give me of how do I find my purpose? What maybe question should I be asking? What should I be doing to get my North Star back to get me back on point?
[00:33:34] Tim Redmond: Yeah, I would pull back several steps and not think about your work. Just think about when you're watching the news or you read a story, what upsets you? What really pos you on, on different topics that is an indication of that your assignment or your purpose may be attached to that.
What gives you tremendous joy? What, when you do things and usually in the service of others or in the giving of others or the creating of something, what gives you more joy? You know what? Pay attention to that. Like I think about my son who's really knows about the fitness and how your body works, and he's got great testimonies of people losing weight and getting in shape.
But he loves the transaction, he loves the deal that he gets to do that, that's kinda his purpose. And so I wanna help him set up, I mean, he's gonna do it himself and I'm encouraging him to set up a business where he does just what he loves to do, so much. So pulling back and finding out what you love to do, what turns you on, what brings you joy.
And if you're not sure about that, I would encourage you to get a coach that specializes in helping or a specialist that specializes in helping you come alive on the inside. And we're created for connection, And I mean I've got four coaching organizations right now working on our business now, and we're a coaching organization like we know the answers. People are paying us for the answers, but yeah, I'm still wanting expert advice on certain things to grow. That's just what I did.
[00:35:11] Jeffrey Feldberg: Some terrific insights there, Tim. And again, from a business owner side of things, I'm hearing what you're saying and the wheels are starting to turn. And really one simple takeaway from what you said alone. And if a listener walks away with nothing more than that, Perhaps that was worth the price of admission because really what it sounds like, it goes back to, does a business run without you?
And for listeners, why not do an inventory? Look at what you're doing over the course of a day, even write it down. Do that for a week, and then why not take your activities and put them into one of two columns? Love it, hate it, keep it simple. And all the stuff that's in the hate it, outsource it to other people who can do it.
And Tim, back to your point and going back to here's how you find your purpose. And as a business owner, we do have this luxury only focus on what we love to do. What has us feeling energized? What keeps us smiling? What gives us that purpose? What gives us that oh my goodness I don't like that it's Friday because I gotta wait till Monday now to get back in the saddle and do what I love to do.
Thoughts on that?
[00:36:12] Tim Redmond: I think it's absolutely right on and doing what you love to do and keeping focused on that. And just pulling back and I am looking to buy businesses from owners that are bored and withdrawn and have checked out cuz I can get a business cheaper that way.
And you're helping the seller side to say, don't sell it here. I went from seven digits to nine digits. I skipped a digit, And but I'm looking for that. So if you feel bored and you're disengaged and you're, that's a horrible place to be in. And so get somebody alongside you, a counselor, a coach, or somebody just to help you ask questions within yourself.
The quality of the answers that you're giving and the quality of the reality you live in are tied back to the quality of the questions you're asking yourself. Why am I not excited? There's a better way to ask that. It says, man, what would really excite me? And why is this have to happen to me is, that's a horrible question.
What awesome thing am I learning from this situation? Don't be like one of those business owners that I'm looking to buy from. They're checked out and they're bored and they're not, they're they got their hand off the helm of their business cuz they're just, they're checked out.
And I'm looking for those kind of businesses to buy.
[00:37:34] Jeffrey Feldberg: Well, Tim, you know, nudge, nudge, wink win. How about we do this instead of those businesses selling below market value? How about we, You and I team up and we'll work with that business owner and they'll go through the 90 day Deep Wealth Experience. They'll go with your coaching and they'll come out of it reinvigorated.
You know, quick story as I'm talking about this. Had a business owner who was like, Jeffrey, I think I'm at end of my ropes here. I just I'm not in love with the business anymore. I just wanna go out. But tell you what, I'm gonna give it one last kick at the can. Let me see what you can do. Went through the Deep Wealth Experience. Heard a short while later. Wow, I'm in love with my business again. I have not had so much fun. I can't remember the last time I had so much fun. Profits are up, growth is like gangbusters, and you know what, Jeffrey? I don't really wanna sell the business now. I can just see myself, doing this and going on for many years.
And as we like to say, Deep Wealth keep a thriving and profitable business forever or sells it tomorrow. But at least you have a choice and both choices are absolutely fantastic.
[00:38:35] Tim Redmond: That's excellent. What a way to conclude this conversation. That is really good. I love it.
[00:38:41] Jeffrey Feldberg: And before we go into our wrap-up question, I have another question for you because I know you have a very special package that you've put together for the listeners out there that it's worth quite a bit of money that they're not going to have to pay for. So, what's the special package that you have?
[00:39:00] Tim Redmond: We have for folks that are actual business owners, and you express some kinda love for Jeffrey Feldberg and his podcast. You know, we offer, when we meet with people, we offer what we call a growth plan. And it's really an experience where we look at the business, we do a SWAT analysis, what's good and bad about the business, the opportunities they have.
Where they are currently in revenue, we actually do a business model where we create a new business model based on capacity, and then we find out what their three-year goal is, and then we recalibrate that with this new capacity. And then during the growth plan, we actually give them eight to 10 concrete steps based on what we talked about up to that point where if they can implement it themselves or we're a do it for you coaching company, so we do a lot of things for you, implement it. And but this thing will be the surest pathway to get to that three-year goal wherever you have that. And so companies typically will make, if they're already in operation, they'll typically add at least a hundred thousand dollars of profits if they'll follow that plan.
So that's why we normally charge $2,500 for. If they have an email to me, tim[at]redmondgrowth[dot]com, or go to our website and have something about Jeffrey Feldberg and leave a five-star review for his podcast then we'll wave at $2,500 fee and then get big growth plan at no cost.
[00:40:27] Jeffrey Feldberg: Well, it doesn't get any better than that. And again, for listeners, we're gonna have all of this in the show notes. It'll be a point-and-click for you. But Tim, why don't we do this? You and I can just talk to the cows, come home as the saying goes, but we are bumping up again sometime. So I'd like to walk you through a thought experiment and I get the privilege to ask every guest on the podcast.
[00:40:45] Tim Redmond: Please.
[00:40:45] Jeffrey Feldberg: Here's the question for you. Think about the movie Back to the Future, and in the movie you have that magical DeLorean car that can take you to any point in time. So Tim, here's where the fun begins. It's tomorrow morning. You look outside your window and there it is. The DeLorean car is not only there, but the door is open and it's waiting for you to hop on it.
So you go in and you can now go to any point in your life, Tim, as a young child, a teenager, an adult, whatever point in time it would. Tim, what are you telling your younger self in terms of, Hey, Tim, here's some life wisdom or some lessons, or do this but don't do that. What does that sound like?
[00:41:22] Tim Redmond: Oh gosh. This is this is good. I've been through a lot of real hard times and almost died as a kid, but, as a baby and
[00:41:30] Jeffrey Feldberg: Oh my goodness. That sounds like a story in and of
[00:41:32] Tim Redmond: Yeah. I had to learn to read and write all over again and a brother that died. I would say that hey, I'm back from the future and you are more capable than you're giving yourself credit.
Take bigger risks. Leap a little bit further because you will have leaped and you will have failed, but you got up every time and you got up stronger, and so let's accelerate that education and you'll meet me in the future, even bigger than what I am now.
[00:42:05] Jeffrey Feldberg: Wow. I love that. Take big risks and just really put yourself out there and we don't hear that today. We need more of that. So some terrific advice for our listeners. Tim, I know you were kind enough to share your email a little bit earlier. Is that the best place if people wanna reach you online?
[00:42:22] Tim Redmond: Yeah, if you go through the website, my staff will get it, if you wanna interact with me, if you have any questions for me, my email is tim[at]redmondgrowth[dot]com and it'll be on the show notes like, you said. But yeah, just email me directly or you can go through our website and my staff will take care of this whole growth process.
[00:42:43] Jeffrey Feldberg: Terrific. Tim, it's an official wrap for this episode, and as we do that heartfelt, thank you for taking part of your day and spending with us on the Deep Wealth Podcast. And as always, please stay healthy and safe.
[00:42:54] Tim Redmond: Excellent. Thank you so much.
[00:42:55] Sharon S.: The Deep Wealth Experience was definitely a game-changer for me.
[00:42:59] 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.
[00:43:09] Kam H.: If you don't have time for this program, you'll never have time for a successful liquidity
[00:43:13] Sharon S.: It was the best value of any business course I've ever taken. The money was very well spent.
[00:43:20] 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.
[00:43:35] 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.
[00:43:58] 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.
[00:44:08] 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.
[00:44:21] 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.
[00:44:40] 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.
[00:45:06] 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.
[00:45:25] Jeffrey Feldberg: Are you leaving millions on the table?
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