The Power of Time and Creating Your Own Future
The way we live today is our choice. The way we live tomorrow is also our choice. This simple yet profound saying holds true for each and every individual on this planet. We have the power to determine our own future, and it is up to us to shape it in the way we desire. This concept extends beyond just our personal lives; it also applies to businesses and organizations.
When it comes to building a successful team in business, it is crucial to understand what future your team members want to create. If you're not helping them shape that future, they will find someone who will. Time holds the key to the true value of a team. The people we surround ourselves with, the ones who are on our team, greatly impact our success and our ability to achieve our goals.
As a business owner, every client and every employee is on your team. They contribute in different ways - one brings capital, while the other brings human capital. Together, they create the products or services that make your business successful. The same principle applies even if you're an individual working a regular job with a W-2. The people you work with and your family also form your team. That's why it is essential to have some form of ownership in a business.
Having ownership in a business doesn't mean everyone needs to be an entrepreneur. Ownership in a business can come from owning shares in established companies like Apple or Google. This ownership is how you build long-term wealth and secure your retirement. Retirement benefits like 401(k) plans and ESOPs (Employee Stock Ownership Plans) are all centered around ownership in assets that appreciate over time.
If all you get from your job is cash or a 401(k) match, you're missing out on the opportunity to have ownership in the machine you work in. Every business is like a machine, and you have to decide whether it's the right place for you or if you should find a business where you can have ownership alongside your salary and benefits. This is why it is important for every business to consider implementing some form of employee ownership, like an ESOP. By sharing ownership with your employees, you create a sense of loyalty and commitment. When people have a stake in the success of the company they work for, they are more likely to stick around for the long term.
When your people feel secure and taken care of, they will be more dedicated, productive, and loyal. This is the key to building a thriving and successful business. It's not just about the financial benefits; it's about creating an environment where people feel like they are part of something bigger than themselves. It's about empowering individuals to make their own decisions and live the lives they want to live.
This notion of empowerment extends beyond business and into society as a whole. The American Dream is not a predefined concept; it is whatever each individual wants their life to be. The idea that home ownership is the epitome of the American Dream is arbitrary and driven by institutions like banks. It's important to understand the rules of the game we live in and not blindly follow societal norms.
To create a tax strategy plan that aligns with your desired life, you need to first ask yourself, "What life do I want to live?" Taxes are based on past history, but we should be focusing on creating a future we desire rather than just paying for past actions. As a nation, we need to shift our approach to tax strategy, moving from simply taxing people to developing strategies that align with individual goals and dreams.
It's crucial to have a dream and be proactive in chasing it. Building the life you want is a continuous journey, and the tools and strategies you use may change over time. The important thing is to have your own dream and work towards making it a reality. True success and fulfillment come from living a life aligned with your dreams and aspirations, not just accumulating wealth for wealth's sake.
Leaders, like Elon Musk, who are brave enough to bridge the gap between the real and virtual worlds, are crucial for our society's progress. They take risks and make investments that have a significant impact on our lives. It's important for each of us to chase our dreams, whatever they may be, and not be concerned with what others think. It's about creating the life you want for yourself, not living up to someone else's expectations.
In the end, it's not about the destination; it's about the journey. The impact you make along the way and the life you create for yourself are what truly matter. So, focus on living your life today and not just saving everything for the future. Embrace the training ground that is the present and believe in yourself. Happiness and success come from chasing your dreams and living a life that aligns with your values and aspirations.
As I continue to share my own journey publicly, I hope to inspire others to pursue their dreams, make their own decisions, and create the lives they want to live. Whether it's through entrepreneurship, getting into politics, or making a difference in your chosen field, what matters is that you are actively striving to accomplish what you want.
So, take charge of your own future, create your own path, and make a positive impact in the world. Time is the most valuable resource we have, and it's up to each of us to make the most of it. Let's strive to leave a better world for future generations and build a culture that values freedom, empowerment, and the pursuit of individual dreams.
Daily Podcast Journal:
0:00 - Introduction
1:20 - The Power of Time and Building a Team
2:08 - Ownership in a Business
3:31 - The Value of Time and Importance of ESOPs
4:40 - Creating a System for Living the American Dream
5:39 - Understanding the Rules of the Game
6:06 - The Importance of Tax Strategy
8:10 - The Journey of Impact and Change
11:52 - Chasing Dreams and Finding Success
13:29 - Training and Belief in Oneself
13:59 - Finding Happiness and Freedom
14:19 - Conclusion
Daily Journal Transcript:
Good morning. Good morning.
Good morning. There's our flag, ready to rock. It is February 2.
It is a Friday at 07:42 a.m. It's gonna be a good day. So, I was thinking about one of my favorite quotes.
I don't know if it's a quote. One of my favorite sayings that I internalize a lot. And it is.
The way I live today is my choice. The way I live tomorrow is also my choice. And so the way I live today may not be how I live tomorrow.
And that is true for each and every individual on this planet. We determine our tomorrow. And so if you want to build a team, you need to figure out what tomorrow they want to create, because if you aren't helping them create that tomorrow, they'll find someone who will.
And that's the power of the true power of time. The true value of time is who's on your team, and whose team are you on? So, when you're a business owner, every client and every employee are on your team. They are on your team.
One's bringing the capital, one's bringing the human capital. Together, they create the product that makes you successful. If you're an individual, the w two job, your role, that's the team you're on.
And then your family is your team. And that's why I believe everyone should have ownership in a business. I don't believe everyone should be an entrepreneur.
There are two wildly different things. So, if you think about ownership in a business, that could be Apple, it could be Google, it could be whatever business that is, that ownership is how you retire. Any retirement benefit, 401, esops, everything is around ownership in an asset, and that's how you build wealth, is you own assets that appreciate over time that are valuable.
And so where you work, if all you get is cash or a is, you're not getting ownership of the machine you work in. And every business is a machine. And so you've got to decide, hey, is this the right place for me, or should I find a business to work with? Where, on top of the 401 and the salary and everything else, I also get ownership in the machine I work within.
And that's why I think every business should look at some version of an ESOP, because that's how we take care of our people through time, and that's how you get people committed to you long term. When they have a vested interest in the success of your company, they will stick around longer, they will be more dedicated. When your people feel secure, when they feel taken care of, they will stay with you longer.
And that's the whole premise of what I'm trying to do, is how do we create a system not designed around retirement, instead design around living the american dream. And what is the american dream? Whatever the heck you want your life to be. The american dream lives in each and every one of us.
It isn't some dream that corporate says, oh, this is the american dream is home ownership. You know why the american dream is home ownership? Because banks needed something to sell so they could collect interest on a regular basis. All my opinion, but a mortgage is a product for the bank.
I'm not saying that's good or bad. I'm saying we need to understand the rules of the game that we live and operate within. Those rules dictate everything.
If you don't understand the rules of the game you're playing, it is impossible to win. And that's one of the reasons poorly managed and ran companies have a lack of vision. A lack of vision results in a lack of rules and a lack of a standard way to make decisions about how we're moving forward in the future.
So you've got to look at what do you want out of life? And that's the first question. When it comes to building a tax strategy plan. The one and only question you need to ask yourself is, what life do I want to live? Because taxes are based off past history, right? When we pay taxes, it's because of something we've done in the past.
Buy a house, guess what? You pay property taxes and you pay it every year. They never go away, right? You buy something at the store, you pay sales tax. Buy gas, you pay gas tax.
That is all because of something you've done in the past. It's not based off creating something in the future. And that's where I believe we as a nation are wrong.
We've never done tax strategy. We've only taxed people. We've only said, hey, we need more money.
We're going to do this. Instead of looking at and saying, man, look how messed up everything is. It's all going to hell in a handbasket.
Let's fix it. You know what we need to do to fix it? Raise money. That's how you fix something.
You need capital and you need human resources. So that's what we're doing. We're raising money and sharing ownership of the machine designed to fix things with everyone that helps us be successful.
Because the true value of time is in freedom. The true value of time is in empowering people to make their own decisions, empowering people to live the life they want to live. It's not about telling anyone what to do.
It's not about controlling anything. And that's the America I want to live in. That's the culture.
That is the society I want to help create. Who knows if we'll get there? But at the end of the day, the time's going to pass anyway. So what is it that you are trying to do? What is your tax strategy plan? See my tax strategy plan.
I love America. I grew up in a fantastic America. I believe we still have a great America, and I believe we're going through some hard times.
My goal is to leave a better America than I grew up with for my kids. And guess what? I've got my entire life to chase that goal. And whether it's through getting into politics, whether it's through entrepreneurship, taking companies public, building a holding company, not the mode, the tools we use to make that a reality, will change through time.
The rooms we need to sit in will change through time. And that's okay. And that's why I create daily content, is because I want people to follow this journey, see what moves we're making, what rooms we're in, what conversations we're a part of, and learn from those.
To make your own decisions, to decide how you want to run your company, to decide which company you want to work for. That's why I do everything publicly. People do not want to live life the way I'm living it.
Sharing. I am giving up my privacy. That is the entire point.
I'm giving up my privacy for all of us to maintain our privacy, because someone's got to lead, and who knows. Who knows where it ends? But the point is not about the end. It's about the journey.
It's about the impact. It's about the change. It's about the life you want to live.
When you're 75, do you want to say, yeah, I'm a billionaire. Great. That's very cool.
I'm a capitalist through and through. I think that's awesome. But why? To what end? What is the purpose? It's one of the reasons I admire Elon Musk, and I believe he's one of the most important humans of our lifetime.
What he's done with SpaceX, Starlink, what he's done with Tesla, Neuralink, these are all bridge companies bridging the real world with the virtual world, helping us grow as a society. What he's done with Twitter is amazing. He's literally given us free speech back the world would not be where it is today if Elon Musk had not risked $44 billion to buy a social media platform.
I truly believe that. So that's what we're doing. We're chasing dreams.
And the goal is to show people, hey, this is how I'm chasing my dream. I don't care what your dream is. I don't care if you work with me or not.
I don't care about any of that. What I care about is, are you chasing your dream? Are you trying to accomplish what you want to accomplish? Because that's where success lies. That's where fulfillment lies.
That's where happiness lies. But it all starts with having your own dream. So, is it a dream to own a house? Whatever that dream is.
New car? Maybe you want a Tesla. Maybe you want to go on a cruise. Maybe.
Who knows what you want to do? Whatever it is, focus on it. Focus on living your life today, not trying to save everything for the future. I think it's funny how important we think we each are.
If you span the timeline 50 years, every single one of us is completely and utterly irrelevant. Not trying to be a pessimist. I'm just trying to explain how much happens each and every day now, it's not irrelevant if you're homeless, struggling to pay your bills.
It's hard. But over 50 years, right now is your training ground. I'm definitely in my training ground.
The number one thing I'm training is my belief. My belief in me. I have been my biggest cheerleader, and I will continue to be it whether anyone else is or not.
Again, it's all irrelevant. What's relevant is, are you trying to create the life you want to live? Answer that question, and you'll find happiness. You'll find freedom.
Anyways, I hope you guys have a great Friday. I hope you do some fun and exciting stuff this weekend. I know we're doing a family movie night and nine.
It's going to be awesome. So, with that, we will talk to everybody soon, and see you later. Bye.