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Mr. Biz Radio: Ask Mr. Biz - How to Live a More Prosperous Life

Unedited transcription of the show is included below:

 

Welcome to Mr. Biz Radio Biz Talk for biz owners during the next half hour, Mr. Biz, Ken Wentworth, a leading business advisor, and two time bestselling author we'll cover topics. That'll help business owners run their companies more profitably and more efficiently. If you're ready to stop faking the funk and take your business onward and upward, this show is for you. And now here's Mr. Biz, Ken Wentworth.

All right. Welcome. Well, Mr. Biz Radio with me, Mr. Biz, Ken Wentworth.

And this week we have we've got another topic that I know is going to resonate with everyone. And this is, you know, whether you're an entrepreneur or a business owner, you're a wantrepreneur, you're, you're none of the above. The topic that we're going to cover and the guests we have this week is going to be something you're going to want to listen to. We're going to talk about, and it's going to sound a little bit generic on the, on the surface, but I will explain a little bit better, but we're going to talk about how to live a more prosperous life. Everybody wants that right now. Who could you get to talk about that? Right. There's a lot of quote, unquote gurus out there and people who, you know, as I say, they think the funk they, they say they're a guru and they can help you live a more prosperous life or something like that, fill in the blank, but they haven't walked the walk, right?

They're talking the talk, but they haven't necessarily walked the walk. Well, our guest this week has walked the walk and then some he is an entrepreneur. He's a New York times bestseller. Matter of fact, he's not written one or two or four or 10 books. He's written 14 books. Yes, 14. Amazing. As a matter of fact, those books have been translated into 25 different languages. I'm trying to tell you, this guy is the real deal. Again, we don't have some guy that's faking the funk here that he's going to, he's going to tell it to you. Our guests this week went from a jail cell to being a successful entrepreneur without further ado, please, Mr. Biz nation, give a warm welcome to Mr. Randy Gage, Randy, welcome to the show.

Hey, Ken, great to be on with you.

Yeah, look, I've been looking forward to this since we stumbled across my assistant stumbled across your profile and she said she sends me people. She'll find people randomly until she's always prospecting for guests and she sent me your profile and I'm like, holy crap. How number one, how I've not heard of Randy before. And number two, please get him on the show ASAP. So, so why don't, why don't we get started with talk about your entrepreneurial journey. So I, you know, some of the, some of the background that I gave during your intro there, I mean, you know, gosh, I can't wait to hear this. So tell us a little about your entrepreneurial journey, Randy.

Okay. Well, I guess it starts with being in a jail cell as a teenager being in jail for at 15 years old for armed robbery and burglary. I had been teenage alcoholic, teenage drug addicts. I made some, let's say questionable choices in life. So we could put that mildly. But I was fortunate. I got a public defender and the judge who believed in me and I was given probation with the opportunity to turn my life around and I did. I took it seriously. But I was coming from a, a simple, very unsophisticated background.

Single mother had raised three of us by herself and we were poor and everybody we knew were poor. Everybody in my family was poor. There were no entrepreneurial role models. So I just worked my way up from a dishwasher and a pancake house to cook and waiter and manager trainee and assistant manager and manager, and kind of making it to manager, which was really like my big lifelong dream, because at that level of sophistication, that's about as big as you could dream. Right. And at least me anyway.

But I realized, wow, I I'm a manager now. And I make less money than my waiters and waitresses the good ones because yeah, they don't, they're, you know, I was on a salary, they got paid based on how good they were servicing their customers. And it kinda, I realized, okay, I, I need to become, I need to own my own restaurant. And so while that wasn't the first time, especially very successful, it opened me up to being an entrepreneur. And that was where the first breakthrough was

Interesting. Yeah. So you know, I, I worked fast food at a restaurant I actually worked at at a Bob Evans originally. And then I moved on from there, Randy and moved to gosh, I'm not, I don't even think they're around anymore racks restaurants. It was a fast food. They did roast beef primarily. And so I know that game and I'll tell ya, working your way up and the work there is no joke. It definitely w matter of fact, I feel so strongly about Randy. We've got three girls and our oldest two are old enough to work. And we told each of them that they each have to work at least six months in the food service industry, just so they can get an appreciation for it, for the hard work, for the rolling your sleeves up and have an appreciation for those folks who serve you when you go to a restaurant and having a respect for them appropriately.

Yeah, love it. I love it. I wish more people did

That. Yeah. Well, and they, and as a matter of fact, our, our our second she's, she's still there. She likes it. So she may end up being a Randy gage here. So from the, from the initial restaurant and, and, you know, some of the lessons you learned there, what, what led you to where you're at now?

Well, I kind of, I got involved in direct selling and I was able to build a very large team after learning, or, you know, struggling for some years, but then kind of learning the understanding about leverage that, Hey, if I want it to become wealthy, I had to understand leverage and I couldn't just trade hours for dollars. So I did direct selling. I got involved in real estate and I became an information entrepreneur. So I really felt like all three of those occupations allow me to practice leverage, and that's where I was going to create my wealth.

Yeah. And I think that's a really good distinction to make. And I think it's interesting. You see entrepreneurs, you know, as, even with clients, I have you see, as they go through that process of realizing that the, the hours for dollars, as you mentioned, that there's only so many hours in the day, and there's only one of you. And so you know, gaining that leverage, especially if you're going to be the primary source of whatever the product or service is in this case, you know, information, as you mentioned, you know, you have to find a way to, to figure out that leverage. And then once that becomes successful, as you mentioned, you know, getting into some other ventures that create that passive income to position you for wealth, frankly.

Yeah. I, I just did a show yesterday with a neurosurgeon who was one of the most successful neurosurgeons in the world. And, but he recognized, Hey, if I'm not operating on somebody, I'm not getting paid. And he got kinda more involved in medical research and biotech, and now he's running a biotech startup helping, helping find cures for diseases and medicines for illnesses. And he's totally remade his life. He's just so happy. He went from this high stress linear position, which listen to your you're a neurosurgeon, you get paid a lot of money per hour, right. You you're going to trade those hours for dollars. He got a lot of dollars, but he wasn't, if he wasn't trading those hours, he wasn't getting them.

Yeah. Yeah. Huge distinction to make for every entrepreneur, every owner out there to start to realize that and make sure that they're, you know, positioning themselves you know, for down the road, whatever that, you know, even their exit, but even pre prior to the exit, you know, making sure that you're positioned to be able to exit whenever you want to. Whenever that might be. So again, this week we're talking with Mr. Randy Gage, you can find out more at www.randygage.com and his last name is actually spelled g-a-g-e www.randygage.com. Also follow him on social media, LinkedIn, Facebook, Twitter. He's got a YouTube channel with a bunch of videos, Instagram, all of that good stuff on, out more about what Randy is doing. We're going to come back after the break, give the Mr. Biz tip of the week. And we're going to out more about what Randy does and how he helps entrepreneurs.

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Check out both of Mr. Biz’s national bestselling books, “Pathway to Profits”, and “How to Be a Cash Flow Pro” on Amazon. Now, once again, here's Mr. Biz,

Hey, welcome back to Mr. Biz Radio. And by the way, that intro about both of my best selling books, considering that you know, our guests this week has written 14 books. I feel very inadequate. I gotta, I gotta step up my game here by the time it is it's it's time for the Mr. Biz tip of the week. And this week is the tip is actually a quote from someone, a loyal listeners are hurting. You mentioned her before. Her name is Sara Blakely. She is the founder of Spanx, which is a women's undergarment company. You haven't heard of her, definitely suggest to go out and follow her. She is amazing. She's just really super cool woman. But her quote is, go ahead, make mistakes. The worst thing that can happen is you become memorable. And I I've heard her speak before, actually several times.

And one her story behind that quote is when they would sit down as a family to eat dinner in the evening, her father would ask her and her brother, what did you fail at this week? Or what did you fail at today? Right. And if you didn't have something to tell him, he would encourage you. You're not trying enough. You're not trying different things. So he was encouraging them to, to fail at things and to hit those obstacles, because those are what you learn from. Right. And so super, super important, a great lesson. And so that is the Mr. Biz tip of the week from Ms. Sara Blakely.

So let's get back into talking with Mr. Randy Gage, author of 14 books, not just two like Mr. Biz - 14 books. So let's start there. How the heck do you write 14 books, Randy?

Actually, it's the question is the other way, how do I not write 14 books? Fair enough. 400 books, because I feel like there's, I always like three or four or five ideas cooking around in my brain that I say, oh my God, that, that has got to be my next book. And it's really more a case of narrowing them down, you know, it's cause I write from my experience, I, I'm not you know, I'm a high school dropout, right? So I'm not writing business books from some theories that our professor taught me in an MBA program. I'm writing about how I made payroll and what I did when I didn't have enough money to make payroll. What I did when the tax authorities seized my restaurant, because I couldn't pay the taxes. And how did I work my way out of debt?

Right. I try to take the, the universal circumstances that happened to all of us and then really going deeper into, okay, what's the personality part that makes that happen? What is the mindset that makes that happen? What is, you know, my last book is called radical rebirth and I feel like it's the culmination of all my, my whole life's work and entrepreneurs are crazy for it. And they think I've written it for entrepreneurs, but I did. It's really written for anyone because it's just the, how to look at what is the conditioning you have in your life? What is the programming you have? What kind of core foundational beliefs have you been literally brainwashed with literally indoctrinated with, right. Probably before you were 10 years old. And then how does that play out in your adult life, in your marriage and your relationships and your job or your business and your success. And I do believe there are timeless principles, first principles about prosperity. And so one way or another all of my books find their way back there. I believe.

Well, it's interesting because I, you know, as I was going down and doing some show prep and looking through you know, some of the books, even just looking at some of the book titles and then clicking through a couple of them, reading a few pages here and there to sort of get a feel of some of them. I think that's one of the things that I really I could see it right through, even just with that, you know, sort of a, more of a macro view of things is that's one of the things I can appreciate is at least for myself. And I think as you can see from the success you've had with your books is that's what people like. You know, they don't want to hear a professor talk about theory. They want to hear like, Hey man, this is what happened.

I was in the trenches and I got crushed by X, Y, and Z. And here's how I got out of this. Not, you know, a plus B equals C kind of stuff. You know, I think really resonates with folks when you have those real life experiences. And the other thing I think, and I'm, I'm sure you get this feedback all the time. Randy is it's absolutely overwhelmingly inspiring. So for the person out there that may be struggling as an entrepreneur, struggling in some aspect of their life. And they think that they're inadequate, they're, they're just never going to measure up whatever it might be. They're never going to be successful when they read a book like one of yours and they hear, Hey, this Randy Gage guy, who's really successful. Look at the stuff that he's overcome. Right. And if he can do it, I can do it.

And he dug himself and pulled himself up by the britches and got through these things. So I think that's a, it's pretty fantastic. And so again, go out to www.Randygage.com and it's again, his last name is spelled G-A-G-E. As a matter of fact, while you're there, you can sign up for his newsletter, it's called “Gage on Prosperity”, and you can also get a free ebook. He's got 50 secrets of prosperity. So you can go out and sign up, get that free ebook. I would definitely encourage you guys to do that. But talk to us a little bit, we've only got about about three minutes left in the segment here. So it's kinda tough to try to summarize all this, right. But talk to us a little bit about how you help folks. When they, you know, you coach them, you work with one-on-one with them.

I think any entrepreneur, any business, ultimately, we are going to create prosperity and success by doing one of, or two or three of three things. And those three things are you add value, you solve problems, or you envision possibilities. Adding value is very simple. If you can show someone how to make their product or service better, faster, more cost, effective, more powerful less expensive to produce. If you can add value at any point in that process, they will joyfully gratefully, lovingly crawl naked over broken glass and throw money at you say, of course, if you can, you know, if you could show general motors how to save $5 on the tail lights of every car they produce, they look at how many millions of cars they make. It's a, wow. We save five bucks on each of that. And, and, and Ken Wentworth could show us how to do that.

We'd be happy to give him a buck for every one of those 30 million cars. Right. so we saw, you know, we add value or we solve problems, right? And then the same thing. If you have an obsess, you know, an abscess tooth on a Sunday morning, you're just looking for a dentist who will do emergency hours. You're not looking for coupons or discounts or early bird special. You're like, I need somebody to make my problem go away. And if you can solve problems for people, they will again, crawl naked over broken glass to pay you. And then the third possibility usually involves one of the other two they're solving problems or any value, but it's envisioning possibilities. And that's what Steve Jobs did with the iPad. Nobody thought they needed an iPad. Nobody thought they needed something between a computer and a telephone, but when he envisioned the possibility, everybody wanted to have one. So when I'm working with companies, client, you know executives, we're, we're usually drilling down to that, Hey, how can we do one or more of these three things for your marketplace?

Awesome. I think those are three there while they're, you know, sort of a macro view. I think as you deep dive deep into each one of those are just so many different ways you can go. And I I'm sure we'll talk a little bit about that as we get into the third segment here. And when we talk about, Randy's going to give us some tips on how to live a more prosperous life. And so again, got the www.Randygage.com, follow him on LinkedIn, Facebook, Twitter subscribe to his YouTube channel. And on Instagram, on Twitter, she was radio.

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To submit questions to the show, email them to This email address is being protected from spambots. You need JavaScript enabled to view it.. Now, once again, here's Mr. Biz.

All right. Hey, welcome back to the show again, we're talking this week with Mr. Randy Gage, and this is probably the moment that a lot of people have been waiting for. Not that the first two segments haven't been amazing, but hearing from someone like yourself, Randy, to tell us all right. So give us some tips. And again, we've only got nine minutes. I'm sure you could talk about this for nine days. But, but give us some tips on how we can live a more prosperous life.

The first step is you got to accept your abundance. You've got to accept your prosperity, and that's not, I'm not just being buzzwordy or cute, understand that you can't be treated for prosperity. You have to be open to receive it. And so that starts with the kind of the process that I'm, I'm looking at in the radical rebirth book, where I tell people to break, you could break. I think you could break down your life into six main areas, right? Like work and career money and success, health and wellness, marriage and relationships, right? And each of those areas, you have core foundational beliefs. That again, and I use language earlier. I said, you were brainwashed during doctrinated with as a, as a kid, but I believe that's true, right? If your parents are bickering all the time, one or is abusive to the other one is cheating on the other.

You have a core foundational belief about marriage by the time you're six, seven years old. Sure. If everybody in your family is overweight, everybody's on 15 prescriptions. By the time they're 15, you're 50 years old, right? You have a core foundational belief about health and wellness as a child. And people say, well, are you suggesting that I'm sabotaging my success? Or I ran my business in the ground. And at 40 years old because of a belief that I developed a childhood. And I say, yeah, I really do believe that. So you have to do the work of looking at what are your core foundational beliefs in those each area and each of those areas, when did you get them? How did you get them? And do they really serve you? And like in the entrepreneurial world, we all consciously want to be successful. Most of us consciously want to be wealthy, but most of us have a mind viruses that, you know, programming that we got as young children, that money is bad.

Rich people are evil. It's spiritual to be poor. That if you want to be a successful, hard charging entrepreneur, you got to be a horrible parent, right? Cause if you watch billions or you watch six session, or you watch Dallas or dynasty of you see, you know, wherever the entrepreneurs, the wealthy people, the billionaires, if you look at how they're portrayed, what's the subliminal programming and all that. That's what it teaches you. You're taught that for a company, for a business to succeed. You have to exploit the workers and plunder the environment and be an irresponsible corporate citizen and be a money grubbing you know, CEO who doesn't care about the planet. That's, you kind of recognize and find all of those negative beliefs and programming, and you've got to blow them up. You got to eviscerate those beliefs, and then you've got to replace them with beliefs that empower you with belief, that money is a tool.

Money is a resource. And then the more money I can create in my business, the more good I can do. The more successful my company becomes, the more people I can help, I can help my employees. I can help my shareholders. I can help my clients. I can help the world at large. That's you know, that would be the first big, big tip is, is start there, go back and find out what kind of programming do you have. And I bet you'll find out it's probably poverty consciousness, not prosperity consciousness. And you need to blow that up if you want to become successful.

Yeah, no, it makes perfect sense. You know, Grant Cardone people listen to show, heard me, mentioned him a bunch of times and he, you know, he takes some heat. Sometimes he's got a jet and he's got this and that. And you know, a lot of people look at that as he lives a bit of a life of excess. And he talks about the same sort of thing, Randy, is that money's not evil, right? If, if you can't, if you can't financially take care of your own family, how are you going to financially help others? And so you have to take responsibility for that. And as you mentioned, accepted, you know, accept prosperity, don't expect that you know, the best I can do is make 50 grand a year and oh, well you know, you have to accept that. And I think that's a huge first step. So I love that one.

Yeah. I mean, somebody is going to say, well, but money doesn't buy happiness. And I'm going to say, that's true. And poverty doesn't buy happiness either. Right? Let's just be real poverty sucks. Right? Poverty causes people to lie and cheat and steal and even kill. So let's lose this popular mind virus that there's something inherently noble or spiritual about poverty because there isn't it's

I agree. I agree. What's another one. Give us another one. That was, that was amazing. And I think that one you could, oh my gosh. We could spend a ton of time on that, but give us another one. We've got a few minutes left here. I'd rather, I'd like to get one more out of you if we could.

Yeah. well, let me throw two in to see if I can sneak them in quickly. Number first one would be, get out of debt. You learn to use debt to empower yourself, not ex, not enslave yourself, right? When you go and you see, okay, there is a 12 unit apartment building for a million dollars, and I can put down a hundred K and I can borrow 900,000, but that'll produce a positive cash flow every month. Even if I figure X percent vacancy and I will be getting rent that pays off, Hey, that's a great way to employ debt because you're using debt as leverage, right? But when you say, well, we're going to open this new consulting practice. So we should get a really swanky office and a 25 foot long mahogany, you know, conference table and you know, dial up the, well, now we're just going into debt in a way that's not going to empower us.

Right. So saying, you know, oh, wow, they've got a high HD TV on sale and a new living room suite with no payments for two years, that's not debt. That's going to empower you. That's debt. That's going to enslave you. So smart entrepreneurs, employee debt in a mindful, empowering way. And the last thing I would go back to leverage is ask yourself is how can I employ leverage here? What can I do? How can I run my business? How can I run my company in ways that allow me to escape trading hours for money and allow us to actually practice leverage? Because if you look at Mark Cuban and Bill Gates and Oprah Winfrey and the wealthiest people in the world, you will see that all of them have found some way to practice leverage, right? They don't just trade hours for money. They found a way to put their money to work for them.

Absolutely. Absolutely. Well, I, I got to tell you, Randy, I didn't know the side effect of having you on the show was I was going to get writer's cramp from writing down notes from what you're saying, but unfortunately that did happen. And unfortunately it happened. So man, Randy, this has been a wealth of information. I really, really appreciate you coming on the show again, go out to www.Randygage.com again, G-A-G-E www.Randygage.com. Follow him on LinkedIn, Facebook, Twitter, YouTube channel Instagram, Randy. Thank you so much again for coming on the show. I appreciate it.

Thanks. Great to be on with you.

Awesome. Awesome. Well guys, I'm sure you enjoyed that. It was an amazing show. Thanks for listening as always have a great week and don't forget as always, you know what I'm going to say. Cash flow is king.

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