Welcome to another episode of Explode Your Expert Biz Show, brought to you by http://gtex.org.uk/,
I am your host, Simone Vincenzi, The Experts Strategist, and this is the podcast for experts who want to become the ultimate authority in their niche while making an impact in the world.
If you want to make 6 figures presentations and become awesome at Selling From The Stage without compromising your integrity I have created The Ultimate Selling From Stage Checklist.
The most comprehensive checklist to create a pitch that sell without being a douchebag.
Today I have the pleasure to Interview Steve Owbridge
Steve is a financial educator, public speaker, coach and mentor to thousands of people. From £95k in debt to financial and time freedom he has the knowledge, experience and passion to help people achieve their goals in reality instead of just in theory.
In this episode, we talk about:
- The top secrets to achieving your financial goals
- How to get out of debt
- What to do with your money when you are ready to make it grow for you
Connect with Steve Owbridge
To become a GTeX Member, Apply here:
If you want to make 6 figures presentations and become awesome at Selling From The Stage without compromising your integrity I have created The Ultimate Selling From Stage Checklist.
The most comprehensive checklist to create a pitch that sell without being a douchebag.
To receive daily support in your coaching and speaking business, join our private Facebook Group EXPLODE YOUR EXPERT BIZ https://www.facebook.com/groups/explodeyourexpertbiz/
Also, make sure you subscribe to the podcast so you don’t miss any other episode.
If you want to reach out to me with your questions, you can email me at Simone@gtex.org.uk that comes right to my inbox.
– Hello ladies and gentlemen, welcome to another episode of Explode Your Expertise Biz show, today I’m here with the one and only, Steve Oubridge, how you doing Steve?
– Hey, I am awesome Simone, thank you!
– Oh fantastic! Now last time we met it was about I think four years ago, three and a half, four years ago.
– In a hotel in London Bridge in front of London Bridge station
– That’s right, yeah it was, yeah.
– And I don’t even remember what we talked about. I think we just got to know each other.
– Connect, we just connected actually.
– This is what you do, this is what I do. Cool, fantastic, awesome! And then we kept in touch in the social media world and I think this interview is well overdue. Gotta say, this interviews well overdue. So we’re going to talk all things about financial awareness, money, keeping money, really important for every single business owner so if you are listening, stay until the end ’cause you will love this interview. So, before we get into the nitty gritty, let’s go get to know you a bit more so what’s your story, what’s your background?
– Okay, so wow, I mean I have a background in business, I ran a training company, a family business for 12 years. I set up Cisco Academys for Cisco Systems in Nigeria. Trained over 5,000 people there, we impacted about 80 schools while we were there. My first career was in the motor industry, started as a junior and I kinda went up to run car dealerships, won a few national awards in marketing at the end of year and also like a new business of the year award. So, I got a lot of kind of experience in various different business, I owned web hosting company for a while, installed that and now I’m in financial education but the funny thing is, with all of those careers that I’d had and I’d make pretty good money, I just did everything wrong with money. I kinda lived this lifestyle that I thought I should live you know and I used to just use credit cards for everything and I was really materialistic and I wanted people to respect me and think I was somebody and so I got into all of this debt and I always say I was a money expert and what I mean by that is that I was an expert at spending money. But I was so good Simone, see I never spent my money, it was always visa or mastercard’s money and what I did is I accumulated all this debt and basically I got to the point where I actually had 95,000 pounds in personal debt.
– So I’m sure you would agree that I was an expert at spending money, right?
– Yep, yep.
– Now don’t get me wrong, I had a great time accumulating that debt. I travelled the world, I had Gucci cufflinks, an Armani suit, I looked really successful, but in reality, my money would go in on the first of the month, go out on the second of the month, and I was living hand to mouth for the rest of the month. And it got to the point where, you know I did all the clever things, like balance transfers and using one credit card to pay the other and all those things and maxed everything out and it was fine and then it got to the point where I couldn’t pay the bills. I got to the point where the interest rates went up and then it became really difficult. And I remember things like, just not having any money. And going to, I remember the one time I went to the shop and I needed milk but I had no money so I had this change pot with ones and two peas in it. I know, you’ve probably got a change pot, right?
– Yeah yeah yeah
– So I kind of got this change pot and I had these coppers and I kind of did this and I was a bit embarrassed, I was kind of bein’ a bit cagey with my money and I’ve got the milk and went up to counter and put it down all these ones and two peas, and I was very quiet and then they did this thing where they count it off the counter like this, whoosh whoosh whoosh, and it was really loud and I thought oh my God, I can’t believe how embarrassing that is and it just was a tough time. Then I kind of found what I do now, I started to learn the things we teach, because I’m sure you know the phrase, knowledge is power. But it’s the application of knowledge that’s the real power.
– Start to learn what we teach, apply it, became debt free within a few years and now you know, I’m fortunate to be in a situation where you know, we have a good income, we drive nice cars, live in a nice house, and live a lifestyle that many people aspire to have. And I don’t say that to impress you, or to impress the listeners, but more to impress upon you and them that it doesn’t matter where you’re starting from, if you get the right knowledge, the right coaching and support, you can get to where you need to go. So that’s where we are now, I’m very blessed, I get to spend my time equipping people to change their financial life and achieve their goals and dreams in reality. So that’s kinda my story.
– I’m really curious about what a fascinating story, I’m really curious about so in a couple years, you like repaid almost like 100,000 pound debt?
– Yeah, yeah.
– So what changed, what changed? ‘Cause I’m sure a lot of people listening right now and they’re like wow, so some people might take like six, seven years to pay off 10,000 .
– Sure, sure. Well you know the thing is, there’s lots of things. First of all there’s several strategies that you can use. There’s debt acceleration strategies, mortgage acceleration strategies, sometimes it’s about taking stock of where you are right now often you’ve got an asset over here, a liability over there, there’s things you can do. And you’ve got to get really clear with what your goals are. So with any kind of planning whether that be in business or in personal finance, it’s about having a clear, concise mental picture of where you want to be. Understanding what you’re trying to achieve and then working backwards and saying well what strategies do I need to use to get to where I’m going.
– Where’s my destination, where am I now, what’s the route I need to take to get there? And then adjust on the way for traffic, right?
– Same sort of thing. And so there was a few things but I think the key thing is and I love to say I came in, I earned all that money, I did it, that wasn’t how I did it, in fact, I ended up paying 51,000 pounds back, not 95. Because again, you can negotiate with creditors, you can do all these things that they don’t want you to know but if you know, you can do it, right? So knowledge is power, right?
– So I didn’t pay that much I did things like create some equity on some of my assets, and I really just, in a way it was more about getting the knowledge, yeah I made some money too but really doing smarter things with my money and making smarter decisions was really the key. So again for anyone listening I would say that first of all, getting a financial education is key, and being disciplined to apply those principles. The challenge you have in the UK well any country actually is that it’s not that there’s a lack of financial education, it’s that there is a systematic mis-education of finance for people. People tell us to ask all the wrong questions, the banks tell us, ask what’s my APR interest rate, and you know what’s my monthly payment? Well, that’s the wrong question to ask if you’re gonna borrow money but they told us to ask those questions, right?
– So they’re kind of setting us up, they’re training us to do the wrong things. And so you need to train differently, you know?
– Okay, so let’s stop for there, I’ve got a lot of talking points, off of now just what you said, so I’m really excited to ask. So, number one is what are the things not to do? Like what are some of the things that you’re saying okay, these are the mistakes that a lot of people make or that you personally made to put yourself in debt, other people put themselves in debt, so what are some of the top three no go, like if you keep doing this, you’re gonna end up broke?
– Okay so the first thing is and there’s two things okay, there’s mindset and there’s skillset.
– Okay? And so mindset, the good thing about mindset and skillset is mindset can be developed and skillset can be learned. And so it’s the same with money. So think first of all about the money mindset. You’ve gotta stop thinking about what other people think of you, you gotta stop dressing to impress if you can’t afford to do that, you’ve gotta stop trying to keep up with the Jones’. Just ’cause they drive a newer BMW than you do doesn’t mean you should go get one on finance. You gotta in a way, it’s all about being comfortable with yourself and where you are in your life. You can’t compare with other people. Now you can compete with them but don’t compare with them because we all started from different positions in life. You know we started with different advantages and so you gotta just understand that. So the first thing is understand where you are and be realistic with it. Nothing wrong with optimistic but too many people have got this mindset that, and this was me. So I would say something like well, it doesn’t matter if I borrow money because I know I’m gonna be successful, so I know I’m gonna be able to pay it back. ‘Cause I’ve got belief and if someone would say to me well how do you know?
– Don’t question my
– My belief
– My beliefs. At the end of the day, how could you not believe in me, you’re supposed to be my friend, right? And so how is all this a negative thing, you’re being negative about my business, you’re not supporting me. So, that was the first thing, the second thing is you’ve got to another mindset thing, you’ve got to be really clear about what you’re trying to achieve and learn how to connect your goals with your emotion. And so when you can connect your goals with your emotion, then you make smarter choices, it’s easier to be disciplined. So for example, let’s say you’ve got a goal that you wanna be debt free. You gotta start, first of all you gotta dig into that a little bit more about what does it mean to be debt free, how is it gonna feel when I become debt free? If I don’t become debt free, how’s that gonna feel? That’s gonna feel pretty crappy. If I do, it’s gonna be amazing. Maybe you’ve got kids and you’re thinking well what impact does that have on my children? If I become debt free, if I don’t become debt free. So think about it, get into it. And connect that with emotion.
– ‘Cause then what happens is when you’re out shopping, let’s say we use our wives or partners for this example. So you know a lady is out shopping and she sees this pair of shoes and she says oh I need a new pair of black shoes, and she says the thing I need, right? Because we buy with emotion.
– Of course, of course.
– And we justify with logic. I need it! Now she’s got five pairs of black shoes at home. But she says not like these black shoes! These black shoes have got a nice buckle or a nice heel. I need them! And they’re on sale, right! So she justifies. Now, here’s the thing. If the goal is to be debt free, and your emotionally connected to that goal, then what happens is you say well I really want these shoes but I really wanna be debt free more, so I’m not gonna buy the shoes. So, that’s one of the real key mindset things. And again, just to give you a couple of budget things if you’d like so again first thing, don’t compare to other people and I guess it’ not enough but get clear with your– don’t not connect your goals emotionally. There you go. Most people’s problem is they don’t know where they spend the money, you know? They don’t monitor their spending. There’s loads of apps these days, there’s loads of you know, tools out there free tools, that you can use to monitor what you spend.
– It’s simple! So you’ve gotta know, you’ve gotta budget basically. I know it sounds really simple but people don’t budget. I’ve asked people well what do you spend on food every month and they go I don’t know. About um, well you know, this about is not good enough. I did an experiment one time, I got an app that was all about monitoring what I spent and all I put in there was like if I bought Acosta coffee or at McDonalds or whatever it is, eating out. And I found out at the end of the month, I spent over 200 pounds on drinks and snacks. And coffees and stuff. And I thought, gosh, I don’t know how many jars of coffee you can buy for 200 pounds but it’s a lot more than the cups of coffee that I had. So you just gotta really think about it. I mean there’s loads of strategies you can use but I’d say the mindset is the first step because if you’re not thinking right, you can have all the strategies practically but you’re not gonna do them anyway. So you gotta really get into that. You know, you have to interrupt me ’cause I’ll just go on.
– I mean I’m absolutely, it’s about the mindset, it’s about not comparing yourself with others because also you don’t know their financial situation. They might be getting themselves in huge debt.
– To show off their lives and you think they have all their shit together.
– And you know something, Simone. Especially in the culture that we have, where it’s about branding yourself. You know you get situations where people, they’re big brands, they look the part, they’ve got great websites and listen there’s nothing wrong with branding yourself. Absolutely, that’s part of marketing, right? But then you’ve also gotta be very real. Just because you’re branding yourself as successful, doesn’t mean you’ve gotta go and spend loads of money on jewellery, you can brand yourself without having to go spend loads of money so that you have actually got–
– I need to let people in into an inner secret because people all the time they always compliment me for my suits, I’ve got the suits, I mean I’m Italian, it’s something I love suits. But I never spent more than 100 pounds for a suit. And so you can find great clothing or pieces of accessories, I love watches. Absolutely love watches. My most expensive watch I think has been like 150 pounds. So what’s important for me is that it looks good.
– As long as it looks good. This one is the best one, I got a pair of shoes and everyone keeps complimenting me for these shoes and they’re like oh my God these shoes are amazing, where did you get them? They’re all shiny! Like oh my God! They cost me seven pounds. And I’ve been using them for a year and a half! And they are my speaking shoes. So to make your point, you can brand yourself to show like at the end of the day you mentioned, it’s important. It’s the first point of contact people have of you and your business in particular if you have a personal brand but you don’t have to get yourself in huge debt to look good that’s what I’m hearing you say.
– You don’t have to be, yeah, you know you don’t have to. Look if you can go spend 150, two, 300 pounds on a pair of shoes, and relative to your income, that’s fine, it’s funny, it’s all relative isn’t it? I was chattin’ to a colleague of mine yesterday. You know he’s like four, 500,000 a year income earner and you know we’re talking about how, we were talking about cars actually. He wants to get a Jag and we were talking about how to do that and which one and you know, sharing goals and stuff. And I said it’s funny because when you’re not– If you’re making 100,000 a year, then there’s a certain level of car you can drive. If you’re making 50,000 a year, you’re driving maybe a different level of car.
– If you’re making a million a year, there’s a different level car. But it’s all relative. You could say well you go and lease a really nice you know Jag for 1,200 pounds a month for example.
– Um and for someone, that’s what they pay in rent, right? It’s like well that’s a ridiculous amount. But if you make 50,000 a month, well it’s not really that much. The same person that says well that’s too much,
– Is taking home two grand a month and they’re spending 400 pound a month on their Ford. You know, no disrespect to Ford but you know, on whatever car! Plus, they probably got bad credit, so they’re paying a higher interest rate. ‘Cause they had to go through some dodgey credit company with big interest, so they’re even paying more in some respects than the person that did the big car. So, it’s all relative, you know?
– It’s fascinating. I love that, I absolutely love this, what we’ve been talkin’ about so far. It’s definitely been a huge part of my personal growth in the past four or five years. In particular since I met my wife.
– Because you’re budgeting for two now, aren’t you?
– Well no it’s not even budgeting for two. I wasn’t the kind of person who– I didn’t even have a credit card before, I didn’t even know like two, three, four years ago what a credit score was . So I was completely like financially ignorant, 100%. And I had like a lot of errors in my account so I didn’t even know what that would mean and so on. So when I met my wife, and she has been attending a lot of financial seminars before she was like okay, let’s have a look at your credit score and I was like what’s a credit score? And so we sign up with different tools to check credit score and it was rubbish. And the only credit cards I could afford, like the only would that would accept was here in the UK we have Aqua or Vanquis, it would’ve been like a 64 percent APR or something. But that’s where I started. So I’ll wrap up the story later but I want to go now into more strategic part, now we know what not to do. What are some of the things that people can do? Now that we’re making a bit of money with our business? What are some of the things that we can do to manage our money in a smart way?
– Instead of wasting it.
– Okay so the first thing is, just ’cause you increase your income, it doesn’t mean you should increase your lifestyle straight away. One of the biggest mistakes people make is whether that’s in any kind of business or in a network marketing business or a franchise business, whatever you’re doing, what people will do is they have a couple of good months, they start making an extra one or two thousand more and they think yeah, I’ve made it, check me out! I can go and afford to get that Mercedes now! And then they go and get some Mercedes leased and they get too busy driving around the Mercedes that they actually forget to continue doing their business in the same way that got them there and now their income drops, now they got the pressure of paying a Mercedes payment. So, the first thing is, you gotta give yourself time, get the income to grow but don’t change your lifestyle too soon okay, not first thing. You know with business, it doesn’t just go like this, it kind of goes like this, right?
– And you know so especially if you’re distracted by cruising around town in a new car, maybe it goes down like that at that part. Or you take some holidays because I deserve it!
– I made it!
– Yeah! And now you got the extra money now that went on the holiday ’cause I deserve it, we justify again. And then your business struggles and now you got some pressure, when you’re under pressure it’s a lot harder to do your business because of the stress of having to earn money, you know if you’re sitting in front of a client and you need money, it’s a lot harder than when you sit there going whether you buy or don’t buy, it really doesn’t make a difference to me, I got money. You know, it’s a lot different feeling. So the first thing is that. Second thing is you gotta start doing smart things with the money in terms of savings. So you gotta start saving, start investing. So again there’s lots of different varieties of this and you should come up with one that suits you. The one I like is 10 10 10 70. Where you know 10 percent of your income, we believe that giving is a good thing, so give to your church, your charities, dogs home, cats home whatever floats your boat, but giving is a good thing and wealthy people understand the value or selling into other people’s lives. So give, give is good. So 10 percent just give to something, you know. The second thing is you save and so 10 percent of your money you save. Save up first of all for an emergency fund. So don’t say well I’m saving for my holiday so I’ll do my emergency fund later because what if you go on a holiday and you have an emergency! You need to go and have your emergency fund first, and again, you can start with like 1,000 pounds ’cause a lot of issues would be dealt with with 1,000. But really, you wanna look at six, 12 months of expenses as an emergency fund if you can, you gotta build up to that. Then you can save for other stuff, save for the holiday, save for the deposit on the house, whatever it happens to be. The next 10 percent you gotta invest, you gotta put that into the global economy, property, precious metals, whatever it is, again I’m not gonna tell you where to put it but wherever you feel is gonna give you return but the key thing is you put it in there, investing is medium to long term, it’s money you never touch, you just let it do its job which is grow until it’s achieved its objective, right?
– You’re sending it on a mission as someone talked about money being like little soldiers, you’re sending ’em out to work you know?
– Yeah yeah yeah.
– So you’re sending them on a mission and when they’ve achieved their mission of growing that money into an amount that gives you a retirement that you want, well then they’ve completed their mission. And then you try and live on 70 percent of your income. Now most people when you teach that, they say that’s great Steve, sounds ideal, but I’m just not gonna be able to do that. Well for most people, they already do it ’cause the tax man takes 25 to 30 percent of their income already, so they’ve already got used to doing it because the tax man took all their money. So all it is is learning how to kind of tax yourself, pay yourself first, and then change your lifestyle to do that. So it is again, discipline. Now, if you really are in that situation where you just can’t do that, well as you know, it’s not about focusing on what you can’t do but about focusing on what you can do.
– It’s about reframing to the positive, but I can’t do 10 10 10 70, but maybe I can do five five five 85. Maybe I can do one one one 97. Most importantly, I can put some kind of strategy in place to get me into the habit of looking at this stuff.
– Because it’s your habits that determine your success. So it’s a habit you can develop, you know? Plus you know one kind of off the top of my head example.
– That’s incredibly useful, so 10 percent, give it away.
– 10 percent save it for for emergencies.
– Ideally you want to run to a point where you have six to 12 months of expenses away.
– Yeah, yeah
– Then the other 10 percent invested and then the rest, live off it, like do whatever you want.
– The key thing about the emergency fund Simone is that, the purpose of the emergency fund is ideally you hope you never touch it, right?
– Because nobody wants an emergency, it’s an unforeseen event. So an emergency, by the way, for anyone whose listening who loves shopping, an emergency is not that a particular handbag or gadget is on sale, that’s not an emergency.
– It’s not the new watch, the new watch is not an emergency.
– Oh this watch is one sale, it’s an emergency!
– Ahhhhh no
– But it’s things like when your boiler breaks, or your car breaks down
– And you would’ve had to go put that on your credit card or borrow money like you see these ab lids on television, you know quick quid, hey my cars broke down, hey quick quid, 75 percent APR, thousand percent APR, we’ve helped you, yet we’ve not helped you, we’ve helped us.
– You know? Well if you’ve got an emergency fund, you don’t go and do quick quid and you know get into more debt. I mean don’t even get me started on Pay Day Loans. 4,000 percent APR, I mean
– It’s crazy.
– It’s just evil. You know, it’s wrong. It’s not even ethical. That’s just the truth of it. Everything we do, it’s about a mission. The culture that we’re in, it’s a mission driven business, it’s not a commission driven business. If you help enough people get what they want, you get what you want. And it’s not to mention, great that we get paid to do what we do, but the best part is developing people.
– Helping people change their lives, that’s the best part. Money as you know, someone like you, you’ve got a great income, you know. You’re just making an impact but you don’t get up every morning I’m sure, you may correct me if I’m wrong. But you don’t get up every morning thinking about how much money you can make, but more about the impact you can make.
– That fair to say?
– Absolutely, 100 percent.
– Because you understand that your impact determines your income. Right?
– And when I say that to people they go yeah but I just like helping people, I don’t wanna make money. I said well look, your impact determines your income, but your income determines your impact. More money you’ve got, more impact you get.
– So you gotta make some money of it. I completely agree with you.
– One of the great things you’re saying, if you wanna help the poor, the first step is to not be one of them.
– Yeah, yeah yeah, absolutely. It’s really interesting what you mentioned about in terms of what you live off of. But even if you are a business owner as well, you want to be able to separate your business income from your personal income. And that’s a big one for everyone within business. And you know at the beginning, they’re very blurred lines and if that’s the only money that you have, it’s easy to just say okay that’s my money. But for example, I believe for the past few years, my income is 3,000 pound a month. That’s what I live off of, that’s it. My business partner, 3,000 pound a month. We pay the stuff, we pay the rest, all the money is kept in the business
– Yeah, of course.
– Then we do the investment in the business and by saving, we started investing in other companies, in micro agencies, to help that, to create an additional flow for the future.
– But it’s so easy for you to start having this success and think, now you know I’m a speaker, I need to look the part, so I’m gonna go and get my Lamborghini now so I’ll lease that because I need it for marketing, right?
– I don’t even have a car! I don’t even have a car .
– But it’s easy, right? But so many people do that, don’t they?
– Yeah, yeah, no, I–
– We know there’s people out there that do that.
– Absolutely, and it’s all about the appearance. It’s all about the appearance, but I think that you mentioned first thing, as long as you’re comfortable in yourself and you don’t need to explain to others because other people will judge you no matter what, whether you have the Lamborghini, whether you don’t have a Lamborghini, they will all have their opinion of you.
– So what really matters is the opinion you have of yourself, as you said before.
– I’m gonna tell you a Lamborghini story actually.
– Go for it, go for it! We always like Lambo stories.
– My son is 10 and I said to him, I said, so he said he wants to get a Lamborghini. I said okay, well what colour do you want? He wants like an orange one. And I said so that’s great, I said well what are you gonna do when you grow up? What business or jb are you gonna do? And at the time he said well I wanna be an air traffic controller I said well that’s great, okay. So let’s go find out how much an air traffic controller makes so we looked online and it was like 60,000 a year or something like that. I said well you’re gonna take home two and a half, 3,000 a month maybe. I said well let’s look up how much it takes to lease a Lamborghini, it was like a couple of thousand a month. I said okay so then you got insurance and fuel and all that and so I said so how are you gonna live and pay for rent or mortgage or food? And he kinda, he’s so funny, he’s 10, he just kinda went I think I’ll just do what you do. I said, well I don’t have a Lamborghini at this point but to be fair we’ve been looking at Lamborghinis this week and he’s going, can we just get a Lamborghini I said mate, maybe in two or three years we can look at one but right now, I said look it’s gonna be much better when you’re a teenager, right?
– He said yeah. I can pick you up and drop you off at your girlfriend’s house.
– Right now you can’t–
– Yeah, exactly.
– That’s brilliant.
– So we’re finding what we’ve got but you know, he’s funny ’cause he’ll be at school and we wouldn’t consider ourselves rich but he’ll be at school and he said to me the other day one of the kids at school said is your dad rich? And I said well what did you say? He went I just said yeah. I said, well I wouldn’t say we’re rich mate, we’re comfortable
– We’re good.
– We’re not rich, you know?
– And also what is rich, yeah?
– But he’s rich though because I said to him, I asked him, you know if there’s anything he can change in his life, what would he change? And he thought about it, he went ehh nothing really. I have an awesome life, you know. I said okay, that’s kind of what you want to hear as a parent, isn’t it?
– Very proud of him.
– I want to ask a couple of questions before we wrap up on something, if you are a business owner and you want to kind of future prove yourself because a lot of times, we would not have, the business depends on us.
– And you see a lot of businesses that they go bust because there is a health scare or there is a moment where the entrepreneur cannot function anymore or maybe there is a death, whatever.
– Touch wood, none of these things will happen but they can happen and it’s naive to think that they will never happen. So, what are some of the things that as entrepreneurs that we can do to future prove ourselves.
– Do you know, it’s a great question and I’m really glad that you asked it because so many people don’t think like that and so there’s lots of protections and things out there so you’ve got things like life insurances and critical serious illness covers, income protection, also available for self-employed people. So there’s lots of things that people can have. The challenge people have is they don’t know what to get and how to work out what they need and then they get sold something that sometimes isn’t the right thing so that’s why kind of what we do is from an educational perspective. But definitely, again one of the biggest things that frustrates me is that people who’ve got this mindset that well it will never happen to me. I’m fit and healthy, I know this week of a lady that died of 30 years old and left a child behind. Our closest family friend died at 44 years old last year. And I know that people die, it’s unexpected, you don’t know. You get serious or critical and you can’t work, well what happens to your business? There’s a few things that you can do. Now when you get to a point where your business is big enough that you’re able to leverage other people’s time, other people’s skills and take time out of your business and it runs itself, and that’s when you’ve got a real business when your business runs whether you’re there or not, right?
– Using the power of leverage. So I’m fortunate that in the kind of business that I’m in, if I am away on holiday, my business still works, still makes money. If I’m sick, my business still works, still makes money and it’s good! So in that respect, it’s good because I’m using the power of leverage but also, you know if you have multiple income streams, that also helps too. So in your business, you have multiple income streams, future brief in your business is the bit that you can do which is build your business and have multiple income streams and also understand that when the economy is good, your business is good and when the economy is bad, your business is good. So for example, in our sector where we’re financial education when the economy is bad, our business is great, people need help, they need to make more money so we offer them to opportunity to earn more money. They need help with getting out of debt, they just need help. When the economy is good, our business is great because they need mortgages, they’re buying houses, they need more protection. So we kinda win whatever is happening.
– Yep yep, yeah.
– So that’s great for us! So that’s why we just continually increase! So that’s kind of the business side. From the personal perspective, if you are running your business and it relies on you and your family relies on you particularly if you’re the bread winner then you need to make sure that if you can’t work and therefore can’t bring in income, you’ve got something I place that would do that for you in terms of some kind of protection or insurance to make that happen, ’cause yeah, it can be devastating and I’ve gotta say, even when you’re an employee, same thing Because we all know people that have been made redundant. You know, and people often tell you jobs are bad, business is good and look I agree that a business is a way to become wealthy not a job because a job you trade time for money and using the power of leverage and building a business gives you unlimited income potential. So I get that, but at the same time, you might be amazing at your job and say well I’ve got job security, I’m sure you’ve heard that before. I have job security!
– Until you’re made redundant!
– Yeah, right! It’s job security when you go, yeah, I’ve got job security because I’ve been in my job 12 years and they love me there, and then they bring in a new boss that doesn’t like you and now you know, you’re out. Or you might be amazing at your job and I do this at seminars sometimes, how many of you are employed? And then a lot of people have their hand up and I said how many of you are good at your job and funny enough, always more people put their hand up for that you know, like they didn’t get the question. Yeah I said you know, it doesn’t matter how great you are at your job, if your boss is bad at their job, your job is in jeopardy!
– Right! It doesn’t matter how good you are, you can still lose yours ’cause they’re terrible at their job. Big companies didn’t close down because of people on the ground.
– They closed down ’cause of the people at the top who did the wrong thing!
– Yeah yeah.
– So, you know, things like you gotta get protection for stuff like that. And don’t have this mindset that it will never happen to me because I can give you countless examples where it does. It’ just important to do and again in your business, in your personal life. ‘Cause think about it, why do you go into business? Yes, you’ve got a mission, you’re passionate, but ultimately, and most people wouldn’t do it for free, they wanna make money.
– So questions is why do you wanna make money? Well I want a nice lifestyle. Well what kind of lifestyle? Well I haven’t really thought that far ahead. Well what if you can’t earn money? Do you still want the lifestyle? Well yeah. Well what are you doing to make sure that happens? Uhhh nothing, I’m just hoping it’s all gonna be okay, and I don’t get sick and I don’t get cancer. Look, one in three people get cancer. That’s crazy, right!
– That’s a ridiculous statistic!
– And yet, you know. So thankfully it’s not me or you. It’s the two of us.
– Someone put it very well early in my business education, and it was hope for the best and be prepared for the worst.
– And I think that’s the most realistic approach we can put on it because yes it’s important to have that positive mindset, it’s important to pay attention to what you have or what you don’t have, it’s also important to see what if something, what if things don’t go to plan, what’s my backup plan?
– What will happen then? What can I put in play? So if something happened then I got my ass covered so then I can focus even more on the things that I want. Just gives you that piece of mind knowing that you have your back covered.
– Yeah, absolutely. Absolutely. And you know the thing is, you know that when you do that it takes some pressure off you as well. And when you’re working without that kind of pressure, it helps so especially if you’re married or if you’ve got kids, you’ve gotta look out for your family and here’s the problem a lot of time, people say well if I do that and have that back up plan, then that means I don’t have faith in my business or in myself, that’s negative. No no that’s ignorance. That’s not being smart. Just because you say I have protection, so for example, I have a life insurance policy for me, for my family and we’ve got policies for various things now I’m hoping I never ever have to use them, but I know that if I don’t make it home tonight from a meeting, my family is taken care of for the rest of their lives and that costs me less than it costs to insure my car.
– Now to me, that’s a no-brainer.
– Yeah yeah, absolutely. So, Steve it’s time to wrap up this interview. It’s been absolutely fantastic. Now for people who want to know more about what you do, how you can help them in their financial education as well as maybe some of the products and services you have where can they find out more about you?
– Best thing to do is probably Facebook. Facebook me, I mean you can Google me, Steve Oubridge, online I’m pretty easy to find but yeah, Facebook is probably where I do most of my kind of communication, I have like a free coaching group on there as well which I hope you’re gonna contribute a few little likes for me, that would be awesome if you could do that.
– Absolutely, absolutely, I will definitely do that. What’s the name of the group?
– It’s just, free business and personal development group and again if they find me, they’ll find the group but again it’s just something I started, people kept asking me questions and I thought you know what, I’ll just set up a group and I’ve got to say I’ve got no thoughts or ideas on monetizing or anything like that, it’s just a place that I can say hey let me share some stuff if you get value from it, that’s great. Share it with somebody, you know? The nice thing for me I think is because I don’t make my money from Facebook lives or YouTube channel or whatever, I make my money in my business so when I throw this stuff out there, I don’t have to get paid for it, it’s just something I can give and hopefully impact some people to just make some changes in their lives and succeed you know? So yeah, Facebook Steve Oubridge is the place to find me.
– There will be the link of Steve’s Facebook account and as well the group here in the show notes so you can scroll down and connect with Steve. Definitely definitely someone really worth connecting with as you can see, he’s a good human being and I think that’s the most important, sometimes in this world you never know who to follow, who to trust and I can say that Steve is a good person so make sure you get in touch.
– And I gotta say to everybody listening and again not just because you said nice things about me but part of the reason I connected with you is I’ve watched what you’ve done and you know we haven’t chatted for a long time, but I have been watching you closely over the years and seeing what you’ve been doing and how you and you business partners have been really building and you know I’ve watched you at some of your lives and again, I like to connect with people that I like and that I feel are good people and again that’s why I, for you, I said hey let me connect you with this other person because I think you guys would get on. You know, there’s a big community out there, not everybody in the community is a good person, some of them are just money hungry people trying to sell you crap. But you know I can say that watching what you’ve done you guys are doin’ a great job and so yeah, it’s been good to watch.
– I appreciate, thank you very much. So guys, if you’re listening, make sure you sign up to our programmes.
– Yeah listen, I think your products are not super expensive, I mean you’re really really good value though I think.
– Well that’s alright with us, we make the services and we are interested in getting people results and a good return on what they paid us.
– That’s right, yeah yeah.
– Steve, thank you very much, it’s been a pleasure to–
– Be with you on this show. Ladies and gentlemen, thank you for watching, if you haven’t subscribed or listening, if you haven’t subscribed to the show, make sure you subscribe right now and until next time remember that together we grow exponentially! Ciao, take care!