Patrick Donohoe

How Comedy Breaks Through Self-Defense Mechanisms With Garrett Gunderson, Part 3

TWS 15 | Comedy

 

How can you change a person’s mindset without offending them? Through comedy. Patrick Donohoe welcomes back Garrett Gunderson for part 3 of the series. In this episode, Garrett shares his mission to help shift peoples’ mindsets for financial abundance, the best way of which is to poke fun at financial myths to open everyone’s minds! Otherwise, you may offend people who hold tight to these myths, and they’ll end up shutting you off! Tune in and discover the power of comedy.

Watch the episode here:

Listen to the podcast here:

How Comedy Breaks Through Self-Defense Mechanisms With Garrett Gunderson, Part 3

There’s a saying that embodies the idea of absolute and unwavering commitment. That saying is “burn your boats,” which is to say when you make a decision or a commitment, there’s no plan B, no escape clause, no way to back out of the commitment. My good friend, Garrett Gunderson has made a pretty bold commitment. He’s made one of the riskiest moves that I have seen in a long time. He spent what most people would consider a fortune on training, coaching, Hollywood-level film producer and production crews, and other consultants to create this one-hour comedy special primarily focused on the topic of money and personal finance.

In June of 2021, I was fortunate to be invited to live taping. It is seriously a Level 10. It met all expectations and exceeded them. It’s honestly hilarious. Before this film is made available, Garrett is going to be doing a multi-city tour and it may be coming to a city near you. Why did he do it? Why comedy? The taboo topics of politics and religion have a stepchild, which is money and personal finance. The stack of cognitive biases that prevent the mind from rationally evaluating financial strategy is pretty thick. The exception is someone having an open mind.

However, the rule is that what’s familiar with the status quo, it’s to stay on that course. Garrett hypothesizes that humor is a catalyst to breaking through these filters but he’s written three books. One of them is a New York Times Bestseller. He has been in the space for years. Despite what most would consider a success, his mission is to breakthrough what keeps holding people back from living a life that they truly want. He’s spoken on videos and has a pretty broad social media audience and he’s taken this message he believes as far as he can go. In this three-part series, you are going to learn a few things about what he’s doing and why he’s doing it.

Number one is how powerful ideas have made their way into our belief systems and with any betting scrutiny or evaluation, how difficult it is to go back and objectively understand these beliefs without shortcuts, such as humor. Number two, you are going to learn a unique perspective on wealth and what people are after with their goals like retirement or financial freedom. In the third episode, we are going to talk about Garrett’s journey where he’s put his essentially successful career and reputation at risk, why he’s done it and everything that has led up to this point in time in his decision. You are going to love these episodes. I can’t wait for you to experience this new content from Garrett and to learn more about his tour. If it’s coming to a city near you, go head over to FreeFlow.group.

What’s up, Garrett?

I’m doing good. I’ve got to spend a little time with you, which was nice, doing some comedy for your financial guys.

You have come such a long way. I remember back in the early days, decade-plus, you always had humor but you brought it to a totally new level. I’m excited to talk about what you are up to. At first, I want to set the stage because there are people that have not heard you before. I was hoping you would walk through your journey in the financial advising and the personal finance space. You have written two bestselling books and New York Times Bestseller is one of them. You have experienced quite a bit. I would love to hear about your journey because I think that will set the stage for what you are doing now.

I won $5,000 for being the young entrepreneur of the year as a teenager. That seemed like a ton of money for me. I came from a coal-mining town. I had this crazy thought when they handed me the check but it feels to me that much money in that second. Honestly, that sounds ridiculous but that’s what a teenager’s mind was. I was thinking, “This is amazing.” I want to invest it. Part of it is because I lived in this little town and I want to get to the big city, which to me, Salt Lake City was big and intimidating but it’s not. Coming from a town of 12,000 and seeing big. I have tried to invest the money but I was under eighteen and my mom wouldn’t sign off as a custodian because the Italian side of my family would put cash in coffee cans and put them in the cellar. It was like everything felt risky.

If you could save on tax, that’s a pretty guaranteed rate of return. Click To Tweet

Looking back, it would have been because that was the ‘90s. I probably would have put everything in the stock market because it was doing so well in the ‘90s, not knowing why or how it would work. I remember when I was eighteen, this guy that worked for World Financial Group came and showed me this variable universal life policy and ran the illustration at 18%. If I was $70 a month, I was going to be a multimillionaire. Forty years down the road before I was 65, that’s illegal to show 18% first off and no investment in the history of the world has ever had 18% a year for that time. It was fascinating. I’m like, “This is compound interest if it’s not taxable.” That led me into asking a lot of questions and giving an internship when I was nineteen years old for Guardian and Park Avenue Securities now.

You know the way that works and the internship was to bring your family and friends so we can let sell them products. The guy that ran that was very big on whole life. I, at the time, didn’t think my whole life was that sexy. I liked the variable whole life because Guardian had this variable whole life product. You can put it in the market, which was again, in the ‘90s, it was doing well then in the year 2000, two things happened. Number one is this dude from New York came here. He was bald but had a ponytail. He had a New York attitude, he was teaching and he was slamming variable whole life.

He’s like, “These are the ‘90s. This is the best you will ever do.” I’m going to compare because it was early 2000 and it started dipping for a couple of months. He was like, “I’m going to compare with this a couple of months that I’m at great decade to what whole life would do. This is even with no risks or minimal risks compared to high risk.” I remember getting a sinking feeling in my gut. The good news is Guardian will let you convert the policy over to your whole life. We went through and started converting policies. Also, at the time, I went back to one of my professors from college, Steven Harris, who managed $5 billion of municipal bond funds for strong investments.

They were the number two investment company in the world at the time. He was the number one investment advisor in the world, not an advisor manager or a money manager for $5 billion municipal bonds. He was always number one as well as the guy, then he decided to become a professor. He walked away at 55 and said, “My next 25 years is going to be to pay it forward and be a professor.” We became friends and he’s helped me dissect what was going on in the market. I didn’t really know what I was doing. Between that guy from New York and him, I’ve got all my clients but went out stock market.

I started and doing that in March of 2000. Everyone but one was out by May of 2000. For those that don’t remember, 2000 until 2002 was three double-digit negative years in a row. I saved hundreds of thousands, would have been millions, I just didn’t have that much money under management because I was a kid and most of my clients were family and friends from small towns but it helped me preserve some of those relationships. It was hard to tell people. I didn’t know how to tell them I was doing but that began my journey.

A mutual friend of Mike and I started flying together all over the country. It was 26 straight months I flew somewhere to interview people to go to symposiums or workshops because I wasn’t married yet. I had that made some money in college. I didn’t have a lot of expenses. I owned a property in Cedar City, Utah where I went to school. My then-girlfriend now-wife was living there while I was living in her parent’s basement because I was such a cheapskate back then and spending everything on learning this stuff. That’s when I started to focus on efficiency.

TWS 15 | Comedy

Comedy: Back in the day, the court jester could make fun of things that were real, that anyone else would get killed by the royalty.

 

I realized if you could save on tax, that was a pretty guaranteed rate of return. If you can save on interest, that’s a pretty guaranteed rate of return. If you could save on non-performing fees, hidden commissions or improper structure to investments, that was a guaranteed return or if there were duplicate coverages or again, improper structure with insurances. These were all ways that you could put more money in your pocket without having to take more risks.

I teamed up with three other young guys that were always asking questions, showing up to these kinds of things and we partnered in a firm called Ingenuity. We started this thing and it was $20 a month because we realized we can make people more money but they are still the same person mentally. We would have people be like, “My friend did better than the stock market. Now that I’m not in the stock market, you told me not to be in it. What do you know?” We figured we’ve got to help people with their mindset.

These producer perspectives, we email out to people five days a week. We had these producer symposiums or producer forums once a month. We started opening up in different places and we would bring speakers in. We send newsletters and interviews once a month on CD that we would match people. It started to focus on mindset while we were still helping people with their finances.

You get the exposure to the mechanical, the more objective numbers side of things, you go and study. You timed the perfect. Not sure nobody knew that dot-com was coming or when it would hit but great timing, then you pivot and now you have a combination of number side of things, making people more money but then mindset. What led to that shift into the mindset as opposed to continuing down the path of making people more money?

My partner Les McGuire was very philosophical. We were in a program called Strategic Coach and every time we would fly to Chicago to go to these sessions, we would get in these healthy debates, talking about things and dissecting everything. We would always talk about our clients and what was happening with them. I was doing annual reviews every time in person. I was doing quarterly phone calls. I was proactive with that. No matter what was going on with their finances, they still seem to have the same level of stress, the same issues.

We were seeing they are investing in our lives, going to things like landmark education and strategic coach. It turned me from being a total asshole the only kind of an assholeand then eventually, I think I have evolved to a pretty decent person. Thank God for my wife, I did all this work because I looked back to the person I was. We recognize the impact of solving our lives.

Invest in yourself because you are your greatest asset. Click To Tweet

We had this philosophy that the best investment is yourself. Invest in yourself, you are your greatest asset like, “What are we doing to help people with that? We are helping them with their assets, not with the key mindset. That’s why we started that membership, which was called The Producer Revolution. It was a pretty sizable movement, it created some fanatics and we had some philosophies that could have been developed a little bit more. I remember the answer to every problem was to create more value and don’t be a consumer. It was almost some angst and judgments that can’t log with it, which is visceral. You give when you’re twenty years old and think you know everything. It progressed. It wasn’t perfect though. That was back before we had to build our own platforms. There wasn’t WordPress, Kajabi or all these plug-and-play things.

We were hiring developers, building along with C Sharp platforms and spending hundreds of thousands of dollars then it becomes antiquated so quickly. It was a good step in the right direction because I remember in December of 2006, I was in Phoenix with one of my clients and he was good at mapping things out. We were writing this seven-stage process called the Freedom Fast Track and the second stage are Sole Purpose Activator. It was a foreign, weird thing to think about considering someone’s sole purpose, which is their values, script or how to operate, what their abilities and also, what they are passionate about in the highest context of how they live.

To put that in a financial program, and then later I was like, “This is what makes personal finance personal. It’s common sense now but at the time, it’s radical. It’s out there, it seemed almost airy-fairy and I’m going to get attacked a little bit but not too bad. Eventually, I wrote the book Killing Sacred Cows shortly after that. Now, I’m in a whole other world of recognizing that there are not as many people that want to be educated as they want to be entertained and finance is super intimidating for a lot of people.

What led to that understanding? Not to say that people all stayed the same over the last couple of decades but now we have a different society. Social media took place in between the time you started and, now I would say from a political and communication standpoint, even internationally, the world is now getting way more connected. What are some of the experiences that you have had that started to set your course a little bit different than you may have thought in the beginning?

When I started speaking more heavily in 2005, we had some events before that but my other partners did some of the speakings. I was only doing it here and there but in 2005 I was speaking every month for our own things, going and flying to other places. When I was going to speak at other people’s events, sometimes I would be in a breakout session back in those days. I was a breakout session on finance and I might be going up against any other session. It was hard to get as many bodies in my session as everybody else’s session. I started hiring a lot of coaches. Roberto Monaco, Jonathan Sprinkles, Teresa Easler, everything around speaking to be like, “I can’t be a financial guy that people are intimidated by money and board to listen to it.”

I started doing that and then I remember I went and spoke at this event in Vegas. It was all dentists. Every speaker had time on the main stage but for a very short time, it’s ten minutes. Sometimes the dental events get CE credits for going to courses. I’ve never got to offer CE credits so I’m now competing with people that are known in that industry and that might be icons, maybe they are the best oral surgeon or they have CE credit and I’m a financial guy. I remember I had been working for a while with these coaches, I’ve got up and I did my ten-minute talk. I had the smallest room in actual physical size. I had only a small square to standard because people are sitting on the floor.

People are outside the door looking in because I’m joking around a little bit but I’m giving them a lot of information. My tonality is going up and down. I’m not monotone and I’m not wearing a tie. I started growing my hair right around that time. It was like this entirely foreign thing. That was the first taste I had of it. That was like, “There’s something different.” A lot of times, there were events that you would do short videos to say what the description of your thing was.

TWS 15 | Comedy

Killing Sacred Cows: Overcoming the Financial Myths That Are Destroying Your Prosperity

I started learning marketing so I could write what it was and I could engage in different levels. I saw that in entertainment at a pretty early time. There are a lot of times where I would show up at an event and one of my coaches, Michael Port, would say a surprise and delight speaker. Nobody knew my name but I would be the number 1 or number 2 rated speaker out of 15 to 20 speakers because I could bring that energy and entertainment.

I was in Italy for a summer with my wife and taking all this time to relax. We had so many good nights where we are all joking around and having fun. I had two months of time off, I was thinking of writing some jokes for fun. Right, when we came back from my birthday, we went to Atlanta Braves Cave, I’m telling her some jokes and she’s laughing. My wife is like, “Where are you getting these jokes?” I’m like, “From my own brain.” I’m proud of myself here because I make her laugh but she’s not a fan.

She’s not like, “Garrett is some money guru.” She’s like, “Take out the garbage. I knew you from college.” I remember she comes to one of my events. There are more than 30 people at this event. I finished speaking, she goes to the bathroom and someone in the bathroom goes, “Are you Garrett’s wife? Congratulations.” She goes, “Congratulate him.” She’s not impressed and she’s laughing.

That was a Friday. That Sunday, I flew from Atlanta to Vegas and one of my friends, Keith Yackey, he’s a star, our next speaker and hilarious. One of the funniest dudes you are ever going to hear. I’m like, “I’ve got a 50-minute financial thought.” He said I was one of the funniest dudes. How do I do this? I walked out on stage and I go, “Maybe the worst introduction I have ever had but he did mention I wrote a New York Times Bestselling book called Killing Sacred Cows, which might sound amazing, flattering and tell the very first podcast I ever did.

The guy called it, “Killing Scared Crows” the entire hour and a half.” In the end, he says, “What should I invest in?” I’m like, “I’ve got a few suggestions. Bifocals, literacy, a new career.” The crowd is laughing, I’m teaching, I’m getting a setup and I call my buddy who’s a comedian at the airport I said, “Come around with us tomorrow.” For two hours, we wrote some jokes. I did an open mic.

From August 2017, comedy became hot but during COVID, it became more of a complete pivot into a way to integrate my career because you were there the night that I filmed my special. We are called the American (D)ream where I took this merge of money and funny, and did an entire comedy special with some of the biggest names to ever produced comedy being involved like Executive Producer Marty Palmer who won an Emmy with Seinfeld, my editor Michael Schultz won an Emmy with Chris Rock, my director has more comedy specials on Netflix than any other director and he was up for the Emmy Fresh Prince Reunion.

They understood that there is no court jester for finance who’s out there poking fun at it. Back in the day, the court jester could make fun of things that were real that anyone else would get killed by the royalty. I’m like, “I can start poking fun at something so that we can start looking at it differently.” When I show up and talk negatively about a 401(k), it’s offensive to some people. It hurts them because they have worked so hard to put money in it, then I tell jokes about it and it goes, “That’s true.”

That’s where I was going to go. First, the magician or the funny archetype, that’s a hard archetype to own. Naturally, that’s not your archetype but yet you have discovered this part of your personality that connects to people at a different level. In my experience in finance, you can easily toe the line of making people wrong and offending them. We have all done it. In the financial world, it’s interesting where some very determined belief systems are reinforced by books, personalities and media. If you think or believe something different, it doesn’t even matter the logic behind it. From an emotional level, people are like, “Don’t talk to me.”

Important Links:

About Garrett Gunderson

TWS 15 | Consumeristic SocietyI am the author of the New York Times and Wall Street Journal bestselling personal finance book Killing Sacred Cows: Overcoming the Financial Myths That Are Destroying Your Prosperity.

Founder and Chief Wealth Architect of the Inc. 500 firm, Wealth Factory. A regular on ABC’s Good Money, he has been on Fox, CNBC, as well as hundreds of radio interviews, and I contributor for Forbes. I also am a frequent speaker at workshops and conferences and live in Salt Lake City.

I have also been interviewed by some of the greats in the personal development space like Hal Elrod, Robert Kiyosaki, Ryan Moran at the Capitalism Conference, Dan Sullivan from Strategic Coach, the Mindvalley Podcast, Project Life Mastery with Stefan James, Joe Polish of Genius Network, Entrepreneur on Fire with John Lee Dumas, The Science of Flipping with Justin Colby, The How of Business, and many more!

Love the show? Subscribe, rate, review, and share!

Join The Wealth Standard community today:

Wealth In A Consumeristic Society With Garrett Gunderson, Part 2

TWS 15 | Consumeristic Society

 

We’re in a consumeristic society where our idea of wealth lies in the physical things we get to have. So we consume and consume thinking that it is the only way we can quench that thirst. Garret Gunderson is back in this second part of the series to redefine the game. He shares his unique insights on wealth and what people are after with their goals. He also taps into the power of intuition, allowing it to guide him to achieve the things he wants and make a better impact.

Watch the episode here:

Listen to the podcast here:

Wealth In A Consumeristic Society With Garrett Gunderson, Part 2

There is a saying that embodies the idea of absolute and unwavering commitment. That saying is, “Burn your boats,” which is to say when you make a decision or a commitment, there’s no plan B, no escape clause, no way to back out of the commitment. My good friend, Garrett Gunderson has made a pretty bold commitment. He’s made one of the riskiest moves that I’ve seen in a long time. He spent what most people would consider a fortune on training, coaching Hollywood-level film producers, production crews and other consultants to create this one-hour comedy special, primarily focused around the topic of money and personal finance.

In June of 2021, I was fortunate to be invited to live taping. It is seriously a level ten. It met all expectations and exceeded them. It’s honestly hilarious. Before this film is made available, Garrett is going to be doing a multicity tour and it may be coming to a city near you. Why did he do it? Why comedy? I would say the taboo topics of politics and religion have a stepchild, which is money and personal finance. The stack of cognitive biases that prevent the mind from rationally evaluating financial strategy is pretty thick. The exception is someone having an open mind. However, the rule is that what’s familiar with the status quo, it’s to stay on that course.

Garrett hypothesizes that humor is a catalyst to breaking through these filters but he’s written three books. One of them is a New York Times Bestseller. He’s been in the space for years. Despite what most would consider a success, his mission is to breakthrough what keeps holding people back from living a life that they truly want. He’s spoken on videos. He has a pretty broad social media audience. He’s taken this message, he believes as far as he can go. In this three-part video show series, you’re going to learn a few things about what he’s doing and why he’s doing it.

Number one is how powerful ideas have made their way into our belief systems, with any betting scrutiny or evaluation, how difficult it is to go back and objectively understand these beliefs without shortcuts such as humor. Number two is the unique perspective on wealth and what people are after with their goals like retirement or financial freedom. In the third episode, we’re going to talk about Garrett’s journey, where he’s put his essentially successful career and reputation at risk, why he’s done it and everything that has led up to this point in time and this decision. You are going to love these episodes. I can’t wait for you to experience this new content from Garrett, to learn more about his tour. If it’s coming to a city near you, go ahead over to FreeFlow.group. Enjoy.

I don’t know if we’re designed to sit still. He’s certainly not the type to sit still.

It’s cool to look back. I was a miser when I was first married. I was all about the game of preservation, cutting and budgeting. My kids are fascinated when they hear these stories because they don’t know that version of me. I remember my youngest. She goes, “I thought it would be the best thing for our family at the time.” I was like, “That was so healing.” In our first year of marriage, I felt like my wife was going, “What did I get into?” I’m like, “We need to balance this checkbook. Why are you spending so much on your classroom? You’re supposed to get paid as a teacher, not that you’re paying out. Why is this electrical bill so high?” It’s ridiculous.

She was patient. She keeps holding a mirror up and saying, “Is this what you want? Is this who you want to be?” She creates that powerful listening for me where I’d be like, “I could probably do better.” You’ll love that version but I appreciate this version even more. We can probably go on. We should totally do another one of these. This is what I get that we’re not talking finance because people can learn finance from your book or my book and all this stuff. This is the stuff that’s underneath it that captures wealth.

TWS 15 | Consumeristic Society

Consumeristic Society: Intuition is the source. It is the divine path or divine wheel.

 

That’s where I want it to go. I believe, maybe it’s not direct but there is a total correlation between your enjoyment of life, who you are, your understanding of wealth and your experience of wealth. We all live in a society that we should be in amazement 24/7 because of how we get to live compared to the past, yet there are still people that are miserable. You then have people with lots of money. There is this insatiable thing where they think that physical things are going to quench that thirst. I look at my experience with things. I would love to get your thoughts. Your levels of impact have improved. With impact, I mean ways in which you create wealth. It’s improved because of your internal improvement. I’m not sure if there’s a direct correlation but I know that there is a tie, at least that’s my experience.

We’re in a consumeristic society where the eternal quest is for more.

The limbic part of our brain is like that monkey brain, all it knows is to consume as much as possible.

We're in a consumeristic society where the eternal quest is for more. Click To Tweet

In redefining the game, it changed everything for me. What if more peace and less worry? What if more leisure and less sacrifice? What if more meditation, recreation and less frustration? In my twenties, I had so much ambition of more revenue, even more employees so I could tell people how many employees I have. Do you remember my office back then? It was way extravagant for I was out at that point in my career. It was about more shows and less personal growth because I didn’t have time for it. The work was being at work versus the work is working on myself. I had enough of it because there was a care of what if I do this work.

I can remember one of our mutual friends, Vince. He’s like, “Go to Myanmar.” I thought it was going to make me a better financial advisor. It did but not for the reason I thought it would. In my twenties, I did a lot of talking in this show but now I’m focusing on listening more. Not just listening to people but listening to intuition because I felt like intuition is the source. It is the knowledge that it is the divine path or divine wheel. I can have free will but that could detour a lot of times than listening to that intuition. I still have a choice, whether to pay attention to it or not. That might be a little bit deeper on a philosophical level but I’ve found that to be true.

I don’t know if it was listening to my intuition. I was in LA and walking. I saw this kid looked like he was in pain, in angst and mental pain. He didn’t look like he’d been homeless or if he had been homeless like, “Don’t talk to him, just walk by.” It was inconvenient because there were two other people. I’m walking to the airport and I see this girl. She’s a little bit heavier but she was beautiful. I’m like, “Go tell her she’s beautiful.” He’s like, “I’m married. That might be weird.” My intuition was like maybe she’s needed to hear that at that moment. I start rationalizing and justifying out of safety, protection, convenience, inconvenience or hustler. When I’m listening to my intuitions, I had a dream to write a one-man show. It was a dream. I woke up. I’m like, “I’m doing it.” You’ve seen it. You’ve seen the impact it has. It’s not even officially out yet but that’s intuition.

Important Links: 

About Garrett Gunderson

TWS 15 | Consumeristic SocietyI am the author of the New York Times and Wall Street Journal bestselling personal finance book Killing Sacred Cows: Overcoming the Financial Myths That Are Destroying Your Prosperity.

Founder and Chief Wealth Architect of the Inc. 500 firm, Wealth Factory. A regular on ABC’s Good Money, he has been on Fox, CNBC, as well as hundreds of radio interviews, and I contributor for Forbes. I also am a frequent speaker at workshops and conferences and live in Salt Lake City.

I have also been interviewed by some of the greats in the personal development space like Hal Elrod, Robert Kiyosaki, Ryan Moran at the Capitalism Conference, Dan Sullivan from Strategic Coach, the Mindvalley Podcast, Project Life Mastery with Stefan James, Joe Polish of Genius Network, Entrepreneur on Fire with John Lee Dumas, The Science of Flipping with Justin Colby, The How of Business, and many more!

Love the show? Subscribe, rate, review, and share!

Join The Wealth Standard community today:

The Concept Of Wealth And Winning In Life With Garrett Gunderson, Part 1

TWS 15 Garrett Gunderson | Winning In Life

 

Winning in life isn’t easy. We all want to live comfortably and not deal with pain, but life doesn’t always work out like that. We will always experience hardships. Join Patrick Donohoe and the Founder and Chief Wealth Architect at Wealth Factory, Garrett Gunderson, as they delve into experiencing life with all its uncertainties. Garrett shares personal experiences that shaped him to be the person he is now. He also talks about how he dealt with his insecurities and allowed his vision to expand beyond his comfort zone. Finally, he shares how he was able to change things in his life in order to live winning it.

Watch the episode here:

Listen to the podcast here:

The Concept Of Wealth And Winning In Life With Garrett Gunderson, Part 1

There is a saying that embodies the idea of absolute and unwavering commitment. That saying is “burn your boats,” which is to say when you make a decision or a commitment, there’s no Plan B, escape clause, way to back out of the commitment. My good friend, has made a bold commitment. He’s made one of the riskiest moves that I’ve seen in a long time. He spent what most people would consider a fortune on training, coaching, Hollywood level film producer and production crews and other consultants to create this one-hour comedy special, primarily focused on the topic of money and personal finance. In June of 2021, I was fortunate to be invited to the live taping. It is seriously a Level 10. It met all expectations and exceeded them. It’s honestly hilarious.

Before this film is made available, Garrett is going to be doing a multi-city tour and it may be coming to a city near you. Why did he do it? Why comedy? I would say the taboo topics of politics and religion have a stepchild, which is money and personal finance. The stack of cognitive biases that prevent the mind from rationally evaluating financial strategy is pretty thick. The exception is someone having an open mind. However, the rule is what’s familiar with the status quo it’s to stay on that course.

Garrett hypothesizes that humor is a catalyst to breaking through these filters. He’s written books, three of them, one of them, a New York Times bestseller. He’s been in the space for many years. Despite what most would consider a success, his mission is to break through what keeps holding people back from living a life they truly want. He’s spoken on videos has a broad social media audience. He’s taken his message, he believes, as far as he can go. In this three-part video podcast series, you’re going to learn a few things about what he’s doing and why he’s doing it.

Number one is how powerful ideas have made their way into our belief systems with any vetting, scrutiny or evaluation and how difficult it is to go back and objectively understand these beliefs without shortcuts, such as humor. Number two, you’re going to learn a unique perspective on wealth and what people are after with their goals like retirement or financial freedom. In the third episode, we’re going to talk about Garrett’s journey where he’s put his essentially successful career and reputation at risk, and why he’s done it and everything that has led up to this point in time and decision. You guys are going to love these episodes. I can’t wait for you to experience this new content from Garrett to learn more about his tour and if it’s coming to a city near you, go head over to FreeFlow.group. Enjoy.

What is interesting about what I’ve learned from you because of this pivot that you’re making is when you have this humor, first off tapping into that, you got to be vulnerable. I’m not sure if you can fake funny. Maybe you can. I don’t know, but I feel like that’s the genuine person when they’re funny. Number one, I think it brings down those barriers, but then number two, comedy in general, talk about taboo things, off-limits things. Even if you go to Chris Rock standup or Eddie Murphy standup, they talk about hardcore shit you don’t talk about at a dinner table or a conference.

Going through rough times is okay. You have to learn how to process through pain. Click To Tweet

Without the comedy, it’s like canceled. People are angry.

I think that’s an interesting dynamic where these experiences that you’ve had have taught you about personal finance is a challenging industry. You’re always up against belief systems, but you figure out a way where you tapped into something genuine by yourself, able to connect with people at a different level where they’re now open to talking about what was off limits before.

I wrote this poem and part of it says, “Comedy is the key when no other will do. Love is the answer but can’t always get through.” Satire is pointing out what we hide, but everybody already knew. That’s my summation of why comedy is so profound because they say that when you scare someone to death, they remember. I don’t want to do that to people. It’s almost as effective to make someone laugh. I was talking to my sound engineer. We’re doing the final processes of a special. He goes, “There are so many gut punches in this. I’m a specialist. I have to be candid with you. When they told me what you were doing, I thought, how is that ever going to work? It’s great.” It’s cool to win over some intense critics in that world with a lot of like stature and knowledge. Some of it hasn’t. Some pay me to do. It’s a joke that happened to come out that night that I was not expecting to say. It was too funny not to include, but I think that theme is there. I think that it’s going to help the masses face a topic that they’ve been afraid of.

I’ll make one more comment. I don’t want to get into some topics specific to the special but also your experience. I’d say that, as you look at humor, roasting, whatever comes to mind when Demi Moore was roasting Bruce Willis. It was fascinating because those are things without that platform. The conversation does not take place. It’s almost like society has gotten to this superficial level, which I think we’re all involved with. It’s who you are, but then it’s who you are in public.

There’s a joke in my special that my manager is scared of. You’ve heard the joke because you were there. I’m talking about kids that they don’t labor. They don’t need Labor Day off. Driving around at Uber isn’t labor. We’re going to Jamba Juice that’s typing on a Zoom meeting isn’t labor. Having a baby is labor. That’s why they call it that because it’s hard ass work that wrecks the woman’s body. Ladies, you deserve a few hours off afterward. He was like, “You can’t say that joke.” It’s a joke because it’s stupid that guys would say something like that or feel that way. That’s what makes it funny. It’s not like I’m saying it as a sexist. I’m saying it as the opposite. How stupid are we? That’s why you get a laugh out of it, but we’re a sensitive society.

TWS 15 Garrett Gunderson | Winning In Life

Winning In Life: One of the driving forces of human beings is freedom, including financial freedom.

 

The sensitivity is that conflict between who we are in public and internally. I think that gap continues to widen. These are thoughts everybody has, but nobody’s willing to express because it would violate some stigma associated with their public personality or profile.

My set’s pretty clean because it’s not made much funnier with vulgarity. I want to have a reach. In my everyday life, I swear a lot more than when I’m on camera. I’m also thinking about it like, “Does it add to it?” There’s plenty of jokes that I remember. I posted one of my comedy sets, and someone was like, “This was supposed to be cleaned. The sexual innuendos here are so Philly.” I have a filthy mind, what am I going to say? I don’t want to mute myself. I want to be able to say things that other people can’t say and that’s what makes it funny.

I also want them to remember some things that help them in life, but the goal is to be funny first. It’s not another lecture. I am truly declaring myself a comedian based upon who’s involved with the project, and I think, “Where it’s going?” I remember I did a practice run for a group of your advisers. You were laying on your side at one point laughing at my insurance jokes. I was like, “This is fun. This is good.” That’s good because I was doing a lot of Zoom at the time to prepare. Zoom is not as fun as people in the same room as you. You can only hear laughter one way a lot of times on Zoom. It’s been a challenge, but a good one.

Let me hit on something to pivot the conversation. You want to get through to people to help them, paraphrasing. When we first met, there was a sincerity and genuineness about you where you wanted to make a difference. You talked about the things that you thought were most important for other people to know. Your journey led you to the point where even though you were saying the things that would help people, there was resistance on that initial layer that they were not able to get past. Therefore, they weren’t helped. Maybe get into where you’ve come with your understanding of what wealth is. What are people pursuing? Maybe unpack why aren’t people achieving levels of life that they want, especially in a society where all the information, all the books, everything’s there to do it, but people are still stuck in a sense?

Wealth to me is knowing what your win is and living by your rules and win, not everybody else’s. We lose well when we try to conform to society, to please others at our own expense, buy into this notion that this is going to be a temporary thing, that we’re going to give up so much of what we enjoy so that one day we can find a live a life that we can love. The problem is those habits become who we are. I had this conversation with someone that said, “I’m leaving social media.” I’m like, “How are you going to do business?” There was business before social media, there will be business after, but social media is not part of my win, my wealth. I don’t want to have digital assets where how I’m viewed is based upon the number of subscribers, of likes or of comments.

It’s important to know how to show and choose love even when it's difficult. Click To Tweet

I start thinking superficially about what would be viral or what would be controversial versus being who I am. This is a weird notion, but I’ve had like a Renaissance in my life where I decided hobbies were going to be as valuable to my wealth as my business activities. They would be on par. They wouldn’t be beneath that. I started taking courses on being a barista. My friend, my client, and I built this thing called The Roast, which has got a big bougie seat to pull up behind my e-bike. It’s got a chalkboard that you open up, an expresso machine put up there, a generator on it, and a sound system. I could roast coffee while I roast bad financial ideas. It’s almost like jaywalking would be on the street.

I’m like, “That’s fun.” I became a whiskey sommelier, and then I started learning how to fish, taking classes at Trager. I went and shot an elk with a bow. I started doing these things that weren’t anything to do with money. They were about my enjoyment. I started thinking about like, “What art do I enjoy in life? What are art forms that I would do for myself?” I write some poetry sometimes. Obviously, comedy was part of that. Some of that crossed over into a business world or a financial aspect. The start was considering my life and myself valuable enough to take time for myself for no other reason than I would enjoy those moments. Not because of validation by the external world. By doing that, I feel like I could be more connected to the world versus having the world tell me what wealth is or what my win is. That has been this revitalization of my life in the last few years. I feel more inspired, more ability to connect with people.

A lot of my hobbies have to do with satiating experiences, either meditative experiences or satiating. Satiating experiences are how I can create conversations that lead to connection? When I’m making a latte, I’m listening to someone. We sit down, have that latte and have a conversation while we sip on that latte, which prolongs that conversation. I started smoking a tobacco pipe maybe once a week or so. I ended up doing that with my dad, who grew up a Mormon. That was a surprise that he enjoys it. They texted me talking about he was having some tobacco and pontificating something about life. My mom’s like, “That reminds me of my dad. He used to smoke every Sunday.” I was like, “That’s a 30-minute smoke.” It was a beautiful artifact.

I started to invest in hobbies. I have this philosophy in life that I win when I play. I play doing comedy. Even my new website I’m writing now, I’m writing things that are funny and enjoyable that are part of that process. I created life on my rules and on what my win is. I’m not trying to retire from anything. I’m not trying to run from anything. I’m no longer trying to hide from anything. That can be difficult at times, but it’s so rich and rewarding. That’s wealth. When you know your win, and you’re living your life based upon winning all the way along, not about arriving somewhere.

That was the point I was going to make. I would say follow-up question because this is something that I think most people would resonate with. That would be nice. They look at you, others that fit that persona. They say to themselves, “I have to do this first in order to do that.”

TWS 15 Garrett Gunderson | Winning In Life

Winning In Life: Pain is a gift even if we don’t like the wrapping. It’s a tap on the shoulder so that we could do better.

 

That’s sacrifice. Unfortunately, we learned that through conversations and culture. Did you ever play the Game of Life, the board game?

Yeah.

The only way you win is by getting your college degree in that group. That creates a subtle belief about why we have to go to college. We played Monopoly. How do you win a Monopoly? Get as many things as possible. It’s a zero-sum, winner-take-all game. We start buying into that belief with capitalism. It isn’t what true capitalism or free market would be. It’s what cronyism becomes. It’s the survival of the fittest versus collaboration. I’m like, “I’m playing games that everybody else told me to play, go to college, get a degree, have a big business, grow that business,” which was always about, “I’ll take care of my health later. I’ll have time for my family later.” Those were always in the background and then the great line that all business owners never tell their spouse, which is, “I’m doing this for you,” but it’s not. It’s for our fulfillment of our narcissistic ego. There’s an unfillable void of more is better. All those kinds of things that we learn in society, especially here in America.

There is merit to some of that. There’s a lot of false reward to a lot of that, especially when we’re trying to prove something to other people. I was practicing my comedy set and I had a terrible night. It was on Zoom, had some people on, including someone who used to coach me in speaking and I had some friends in the dining room. There’s a chef in the kitchen. It was at my friend’s house. My wife’s doing her culinary homework in the kitchen. It’s noisy. They’re like, “How long can you be done in an hour?” My set is an hour and a half. The worst thing you can do is take an hour and a half in comedy and make it an hour.

The best thing you can do is go, “I won’t share a third of my set.” I condensed it. The guy said, “You sucked.” I did. That’s the truth. It wasn’t good. What was hard is not to have that be a chip on my shoulder and be like, “Wait until I do this.” What I did was I waited, and a month later, I finally shared it. He goes, “I can’t believe that it’s the same thing.” I’m like, “Yeah, I had an off night.” I definitely did. I learned a big lesson from that. The big part of the lesson was along the way, enjoying it. It’s not waiting for April 15th, but being like, “I had this set in March in Ogden at the Wise Guys theater there.” It was like, “It was an amazing set. It was one of the best nights.” I’m like, “It wasn’t. The April 15th was good.” As a standalone, that was a win. That was an enjoyment. Enjoy that moment. Extract that moment. Even leading up to that night, the last line, I thought, was awesome.

Intuition is such a gentle nudge. It's an inner note and a gut feeling. Click To Tweet

I couldn’t wait to sit. I was like, “I want to enjoy every moment on that stage.” Often in life, we’re trying to get to the next moment. It’s a silly movie. A movie that impacted me was Click. He could fast forward through anything. He missed everything. Most people would do that without proper perspective. We’ve learned that pain is something to avoid. What I’ve learned is pain is part of the process. It’s a gift even if we don’t like the wrapping. It’s a tap on the shoulder. If we’re willing to go through it with love and compassion, the other side of that pain is always a connection and lesson. My wife walked up to me and I’m like, “What’s up?” She’s like, “I’m sad because trying to get our son in this camp, but he’s got to have certain vaccinations.” My son had an adverse reaction to a vaccination back in the day. He’s not up to speed on certain tetanus and polio, which I don’t even understand why he had to have that. She’s like, “I don’t think they’re going to let him in the camp. He’s struggling with friends.”

I was like, “If you need to call the camp and have me on the call, I’ll be on the call.” Otherwise, I was doing my best not to get sucked into thinking that I have to make her happier. That’s my responsibility or that there’s something wrong with her being sad. She was able to get a hold of the camp and they’re going to let him in. Even when she did, I do a lot of times, which is we suffer the future. We start thinking about what’s coming up, about what can go wrong with that? We start our suffering now for something that hasn’t even happened and 99% of what we worry about never is reality. The stuff that is the biggest problem is things we could have never predicted. I feel like we’re going to have the tools and have the lessons through those, even if it is painful. The people that struggle the most are the ones that try to avoid the pain, hide and run from the pain, go around the pain when going through it is the only way.

I was reading Meditations by Marcus Aurelius. The definition of a meaningful life hasn’t changed at all since then. Yet, the world has become more complex. It’s been more difficult for people to have those moments of meaning.

We are better at faking things now. We have tools to make things look and feel real.

It makes it even more difficult.

TWS 15 Garrett Gunderson | Winning In Life

Winning In Life: When we try to conform to society and please others at our own expense, we’re going to give up so much of what we enjoy.

 

Filter and social media editing, I don’t know how to describe it without sounding too crazy, but I’ll say it. I’m at acupuncture, relaxing. I have this moment of clarity. I felt like it was God say, “There’s nothing to worry about. I’ve got you. You’ve got this. When you make mistakes tonight, it’s part of the process. Make that it’ll be okay.” I didn’t make as many mistakes in Show 2 as I did Show 1. At Show 1, I forgot where I was at one point. This girl, Trivinia was laughing so hard. I got distracted because she thought the word cavemen are funny. I kept saying cavemen, but then at the end, I go, “Does anyone know where I’m at?” Everybody started laughing because I’m making a mistake. My manager yells out. I picked it back up. In the second show, the mistake is, remember the tooth bunny. I meant Easter bunny but said, “The tooth bunny.” That stayed in the special and it was a mistake, but it was funny.

I had talked about the Easter bunny. No wonder we have a problem with pedophilia. You have a stranger in a costume here. Kids go to them and they’ll give you things for free. I go, “That reminds me of a story with my wife,” and everybody started laughing because the last word was a pedophile. What it was supposed to be referencing was free because she went to spring break when we were dating instead of, “I don’t need any money because the guys are super nice. They’ll give you drinks for free.” Those were accidents. Those were mistakes that made it funnier. The fact that I went in with this knowing I was able to be in that moment without fear. I didn’t tense up. I laughed with you guys.

I rolled with the punch. In life, we try to control the uncontrollable and that creates unnecessary stress and worry. That worry starts to become who we are instead of who we really are. Everybody gets a dumbed-down lesser version. That’s not present because of how we handle pain, of what we think is right and wrong, and of how we don’t want to be judged. Ultimately, we don’t show who we are because we think that if we’re someone else that people like us more. That’s my estimation.

I’ve done a lot in my life. I don’t think you can completely avoid that. It’s part of our makeup. We’re aware of it.

I have too many windows open that are running in the background, still learning the software down. I can be like, “Why am I worried about that? I’m going to call that person. This person texts me back. Do they not like me?” I’ll call him instead of sitting there and like worry about it. I always think, “Maybe they have other things going on,” or maybe a lot happening is in their life. If they don’t like me, that’s up to them.

You’re walking on the side of the road and met a stranger. You have ten minutes to talk to him. What do you tell him? We’re all human beings. We all essentially suffer from the same programming in a sense. We’re all part of the experience where stuff happens and respond to it in very similar ways. It’s this never-ending pattern that we get stuck in. You’re talking to someone for a brief period of time. What do you say?

Wealth is knowing what your win is and living by your rules. Click To Tweet

What would life be like if we trusted ourselves more? What would life be like if we listen to our intuition? Intuition is such a gentle nudge. It’s an inner note. It’s a gut feeling or a light feather face. It’s super easy to ignore, but the more we ignore it, the more we have unrest, even depression. We succumb to scarcity. Intuition doesn’t always lead us towards the easy path. That’s the thing. That’s why we like to ignore it sometimes. Sometimes it leads us down a challenging yet rewarding path. Sometimes because we think that we’re too alone or we’re not capable or haven’t been done before.

When I say we, I could be good at talking myself out of any of this. I had hernia surgery, November 3rd, 2020. I was in my bed for several days. I was eating gummies for pain management to go to sleep. I didn’t want to take any opioids. I don’t do good with weed at all. It makes me disconnected. I can’t even formulate good sentences. I found myself being like, “I think I could be a comedian. This is stupid. This is dumb.” That time I was like, “I think I’m going to do a special. I’d written it out.” I turned on The Zen Diaries of Garry Shandling that was done by Judd Apatow. It was him talking about his doubts of ever being good enough to be a comedian and all this stuff. I was like, “Okay.” He has some cool things he wrote in his journal, which reminded me about things I’ve written in my journal. I was like, “I’m going to do this. Can you walk downstairs because of surgery?” November 15 was when I called comedian Marcus and said, “I want to write this. Do you want to help me?”

I think we could write a special by January and then I’m very cats. My managers, chemistry starter podcast, email, somebody does it April 15th. I was considering it. All of a sudden, a brand new comedian is going to film an hour special. I started writing November 15th. I remember April 15th where most professionals are going to take a year to do this. I’m on Zoom five days a week, testing this out. You were there for one of them. I’m like walking, reciting, rowing and rewriting. It worked out great, but it was uncomfortable. I had to face so many demons of insecurity, of how to be direct with people, how to ask for what I want and to allow a vision to expand beyond my comfort zone, to make changes and to like say no to things, I could truly focus on this, how to allow other people to support me.

There were many things that had to go on for that to occur. Who I am from January 2020 to who I am now? I feel like I have to reintroduce myself to the world from who they knew in the past. I’m willing to listen to intuition. I’m willing to do the harder things and process through pain. I’m convinced on other side is love and connection. I feel worthy of love. I feel that I still have insecurities, but I still love myself even if I’m imperfect. I’ve adopted a statement perfectly imperfect as part of my life. I don’t have the answer, but I do have the question.

My question at all times, whether it’s convenient or inconvenient, is what would love choose? What would love do, how would love show up? I used to think that what was most unique about us was our abilities because that’s maybe a strategic coach concept. What makes us most unique is how we show love, express love, receive love. I’m like, “What if I mastered that? What if I invested in that?” Not in all the other stuff about more, but how to show up as love, how to choose love when it’s difficult, when I want to pout and be a victim, when someone I feel is wrong, me or said something negative about me? It’s like someone I look up to when I said, “I don’t want to be part of this anymore of something I was on the board.” He was like, “That’s going to impact us. “

TWS 15 Garrett Gunderson | Winning In Life

Winning In Life: When we try to control something that is beyond our control, it creates unnecessary stress and worries. That worry starts to become who we are.

 

I’m like, “I know, but you’ll figure it out. What am I going to do? You always found a way.” In the past, I’ve been like, “You’re right. Let me do it even though I don’t feel like I have the time or capacity or that I don’t feel like this is my calling because I want to appease you.” I was like, “We can still be in a relationship. You can even go tell people I’m an ass and I’ll be okay” because I’ll keep showing up as love and part of the time is having clear boundaries. It’s ten minutes of what I would tell someone.

What I took from that is the question you ask yourself, especially when you’re experiencing fear or anxiety or stress.

This shit’s easy when things are good.

The primal part of us shows up when things are not how we expected. Number one, it’s the awareness of it. Number two, it’s not relying on those carnal instincts. It’s strategically designing a way in which you can ask yourself different questions and catch yourself. Obviously, be more present and enjoy that moment.

I don’t know how you feel about this. The way I feel about this is I have the ultimate testing ground and having a wife and having kids because I can be neutral about things in business and not take much offense to it or not have a drag me into drama or a lot of emotion. If I don’t get my way with my wife, I can find myself on a path. I could find it harder to ask for forgiveness immediately or to not be right at the moment. That is the ultimate place because I’ve shown her more of who I am and I’ve shown anyone else in the world. There was a time where I believed if she didn’t love me, I wasn’t lovable because I’ve shown her so much. When I recognized that was a limiting belief, I’m able to even give her more love without the fear of is it reciprocated or what if she doesn’t like this about me? I joke that this is like the 26th version of who she’s been married to. I’m like the only woman that’s been married to more men with one marriage is Danielle White. Garrett White’s wife. He’s on Version 35.

It’s one of those things where I hope that’s what we all pursue. I don’t think there’s this end to our becoming. It’s weird. You have so much brilliance and meaning when you’re living in the present moments. That’s what all exists, but it’s this constant awareness that you can continue to do iterate, improve and be better, not to take away from how you are right now, but be even better and continue to improve on the experience.

Important Links: 

About Garrett Gunderson

I am the author of the New York Times and Wall Street Journal bestselling personal finance book Killing Sacred Cows: Overcoming the Financial Myths That Are Destroying Your Prosperity.

Founder and Chief Wealth Architect of the Inc. 500 firm, Wealth Factory. A regular on ABC’s Good Money, he has been on Fox, CNBC, as well as hundreds of radio interviews, and I contributor for Forbes. I also am a frequent speaker at workshops and conferences and live in Salt Lake City.

I have also been interviewed by some of the greats in the personal development space like Hal Elrod, Robert Kiyosaki, Ryan Moran at the Capitalism Conference, Dan Sullivan from Strategic Coach, the Mindvalley Podcast, Project Life Mastery with Stefan James, Joe Polish of Genius Network, Entrepreneur on Fire with John Lee Dumas, The Science of Flipping with Justin Colby, The How of Business, and many more!

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The Framework For Financial Independence

TWS 14 | Financial Independence

 

According to science, our brain does not have the capacity to process the information that bombards us daily. That is why it creates these shortcuts or cognitive biases. Our cognitive biases rule our behavior, especially towards our finances. On today’s show, Patrick Donohoe speaks about these biases from a financial perspective, foremost of which is the notion of retirement and why it is so appealing to so many. Get out of what you have been conditioned on so you can gain that financial independence as soon as possible and not have to wait 20, 30, or 40 years. Tune in to this episode to learn how.

Watch the episode here:

Listen to the podcast here:

The Framework For Financial Independence

I’m grateful for this episode. We had to be reminded about the principles of freedom and independence. I thought I’d use this show to speak to that from a financial perspective. I’m going to be talking about a mental model or framework for financial independence. It’s changed my life and I believe it could change yours. At the end of the episode, I’m going to give you a tool. It’s a calculator that will help you quantify these ideas. I’m going to explain the different pieces of it.

First, I want to create some context. It’s fascinating to think about how science has made us all aware that our brain simply does not have the capacity to process the information that bombards us on a daily basis. It’s not able to keep up with how innovative society has become. As a response, the brain creates these shortcuts or cognitive biases. There are over 100 proven cognitive biases. The Visual Capitalist has an amazing infographic. It gives you an idea of how all of these cognitive biases are connected. What this tells me is that even if we want to be objective and assess a situation, scenario, opportunity or inner working with absolute objectivity, it’s not possible. Our mind has prevented that. Being aware of these cognitive biases is vital. The primary ones are, first, cognitive dissonance. It is what happens when we hear our exposed information is contrary to what we believe. We go to this carnal state. We come up with why our opinions are right and why theirs is wrong. At first, it feels unnatural.

The second is confirmation bias. It is looking for groups or friends that all essentially believe what we believe, think how we think, have the same opinions. The other is the halo effect. It is when a political figure, a sports figure, celebrity, gives an opinion about something that is not within their expertise, yet we still take it as if it were. Our cognitive biases, if you think about it, we all have them. It’s part of our survival mechanism. We don’t choose. It’s unintentionally created because we’re wired to survive. We are looking for things constantly that could prevent our survival. Look at 2020, we all went primal to some degree, at least I did a few times where things were chaotic, unknown, and whether it’s toilet paper, water or whatever, you still want a primal.

TWS 14 | Financial Independence

Financial Independence: Even if we want to be objective and assess a situation with absolute objectivity, it’s not possible because our mind is preventing that.

 

Our mind creates these unintentional frameworks, biases, perspectives. It results in what we think about the most. There’s a very strong set of perspectives and biases around the personal finance world. I’ve been in this world for decades. I’ve written a book. I’ve done hundreds of podcasts and concluded something. First off, there’s a biased toward this notion of retirement that’s what you should be doing. It’s where all financial behavior originates to some extent. Pursuing something for 40, 50 years as a career and not having to do that anymore. There’s a whole industry, trillions of dollars around reinforcing this idea. Whether it’s asset management, insurance, brokerages and you can point to all different advertisements that continually speak to this idea of retirement. For years, I criticized the qualified plans, mutual funds, perspective until I realized something. I finally considered why retirement was appealing. It’s appealing not because people want to retire. The definition of retirement is to be taken out of service, essentially become useless. Nobody wants to become useless.

The motivation and what creates the framework is people have this urge, natural desire to be free to not have to do things any longer. That driving force compels people to act. That is the path at least they believe is going to help them achieve that. I believe there’s a much simpler way. I know you were thinking, “I’ve saved for twenty years. I have all this money in the market. I’ve been successful. I’ve been successful in my career. I’m going to work another ten years and I’m done.” Some of you may be saying that and I get it. First off, I’m genuinely inspired by the dedication, energy, commitment and fortitude to achieve these ends because many people just don’t ever retire. It’s incredibly a frustrating series of events for people. There are those that do that ended up realizing it’s not what they thought it would be and ended up going back to work.

My discovery in this profession and ultimately become my mission is to inspire and motivate people to gain financial independence as soon as possible. Not wait 20, 30 or 40 years because we’re not promised that we’re going to survive or it’s going to be the same circumstances we believe we’re going to be in at that point in the future. There are lots of different perspectives and biases around this idea of retirement. I want you to step back and start to realize that we have these cognitive biases. They’re reinforced and unintentionally created. We operate our vibes based on those belief systems. This is why this tool that I was referring to before is important because it quantifies it. It puts something into math or something that’s more objective than an opinion.

We all have cognitive biases. It's part of our survival mechanism. Click To Tweet

You can access the calculator at TheWealthStandard.com/Calculator. You can complete it in less than one minute. What the calculator does is it gives you an outcome. That outcome is a date that you could be potentially financially independent. I’ve come to realize that financial independence is not a dollar amount, it’s more of a mindset. The mindset is most often created based on a couple of factors. Number one, you have investment cashflow. You have passive income coming in every single month. That pays either half or the majority of your living expenses. When you establish that, there’s still a gap. I believe that gap as far as from the outcome of independence and freedom, it’s filled by a profession, a career or meaning full work.

Work that aligns with who you are. It’s something that you love doing and you connect what you do with how you benefit others that are very high level. You come to this conclusion that you are meant to do this. It’s that type of meaningful work. I believe we’re all unique. We may not be operating or doing what that type of work is right now. That is where you start to pursue that type of work and find opportunities to do it, where you don’t necessarily have to work full-time but you work because you love it. You recognize it because you have cashflow and passive income coming in. You are not living to work. You are working and doing meaningful work in order to live. This engages these feelings of independence and freedom what I believe everyone’s after.

You don’t have to wait 20, 30 or 40 years. Many of the people I work with are able to do it right now. The fact that they know they can do it right now gives them this sense of freedom and independence that they don’t necessarily have to be doing what they’re doing. It is now a choice. What I encourage is to be open to these ideas. I know what you’re saying, it’s contrary to many of your belief systems as they stand right now. If you connect with the outcome of retirement, it’s freedom and independence. Consider the possibility that it is possible. That feeling can be achieved sooner than 20, 30 or 40 years into the future.

TWS 14 | Financial Independence

Financial Independence: The notion of retirement is so appealing not because people want to retire but because of this natural desire to be free and not have to do things any longer.

 

The parts of this calculator that are most important are you enter in your income or what you make on an annual basis, the investible assets that you currently have and then you use a couple of factors. The rate of return you’re getting from your assets. Also, it’s the establishing of a reasonable rate of return to gain passive income. When you have that number, usually we look at 50% of your current income as this freedom income which is doing meaningful work on your terms at 50% of what your current income is. When you look at the growth of your assets and the cashflow that would come from that plus 50% of your current income, that is going to equate to whatever dollar amount you have to earn on your investments and gives you a specific date at which you could potentially be financially independent. This calculator opens eyes.

By no means does it get down to every single detail of how things work but it gives you an idea of what is possible. When you realize that, you start to look at investments and work differently, what you’re doing for a career. That is the point of the calculator. It gets you out of what has been conditioned, what cognitive biases rule your behavior especially your financial behavior. It puts you into this position of, “There could be another way. Here is potentially a path that gets me what I want sooner.” I believe we live in an amazing era. There’s a lot of chaos. There is a lot that is going wrong and news, websites, social media point all of these negative factors out. That comes from this natural carnal state of wanting to survive. We’re always looking for what can hurt, harm and kill us because our brains are wired to survive thousands of years ago, not in our era. I believe, there are miracles are happening all around us if we’re aware whether it’s the innovation with healthcare, food, energy. There are some amazing things happening.

I believe that meaningful work, being able to connect who we are, we’re naturally gifted with the value creation for others in receipt of an exchange with monetary exchange. This is a level of living that is possible for more people now than ever before. At the same time, it is first the recognition that you have to make certain changes and do things that snap you out of what and why you’re doing it in to look at another way. TheWealthStandard.com/Calculator is a link to download this specific tool so you can see where you stand and how far off you are from financial independence. There are some other resources there as well. I hope you can take advantage of that offer. It’s free. No cost. Hopefully, you’ll gain a better understanding of what’s possible for you. I wish you a great week of celebrating and being aware of the principles of independence and freedom. I hope you get to spend it with people that you love. Have a blast. Until the next episode.

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Decoding Greatness: Reverse Engineering Success With Ron Friedman

TWS 13 Ron Friedman | Reverse Engineering Success

 

Is top performance something you’re born with or do you have to practice 10,000 hours to achieve it? If those are the only two choices, then most people would have given up on success already. But what if somebody said you could reverse engineer success and get to it quicker? Award-winning organizational psychologist and nonfiction author Dr. Ron Friedman goes one step further. In his latest book, Decoding Greatness, he argues that we actually reverse engineer top performance all the time. The missing key is being intentional about it. In this conversation with Patrick Donohoe, Ron explains how his book and the free course that goes along with it teach us how to emulate what the greatest thinkers and doers in history have done to carve their own path to success. Do you think you’re not born with enough talent to make it? Is practicing 10,000 hours too much of an investment for you? Tune in and learn why you shouldn’t give up on success just yet.

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Decoding Greatness: Reverse Engineering Success With Ron Friedman

I have been studying mental models and information frameworks. The reason being is I’m learning that more information is not beneficial to people. Our brains are designed to survive. They’re old and have not evolved to the point where we’re able to properly evaluate and understand new information, especially as it relates to making progress. Our brain forms these shortcuts that allow us to make sense of things, but they are cognitive biases, preventing us from understanding new information and evaluating new processes. These mental models and frameworks are a more conscious and intentional way of understanding new information. More information without these mental models and frameworks will go in one ear out the other. We will continue to reinforce what we already believe and understand, which prevents us from getting what we want. I’m going to speak to that more in more detail on the next episode.

In this episode, I have an organizational psychologist joining me. He has a new book out that we discuss. It is an informational framework that you will want to know about. Dr. Ron Friedman is an award-winning psychologist. He is serving the faculty of the University of Rochester. He has consulted political leaders, nonprofits and many of the world’s most recognized brands. He is published in multiple newspapers, The New York Times, The Washington Post, The Guardian and magazines like Psychology Today and the Harvard Business Review. I can keep going on and on with his accolades.

He founded an organization called Ignite80 which is a learning and development company that translates research in Neuroscience, Human Physiology and Behavioral Economics into practical strategies that help working professionals become healthier, happier and more productive. The 80 out of that company name is based on studies that have been done that show the percentage of employees who are disengaged at work.

His new book is Decoding Greatness which is a way to reverse-engineer success and apply it to your specific life. It’s a great mental model or information framework. You should pick up the book. There is also a website that you can get access to. The access is a free course. All you have to do is buy the book, take a picture of the receipt and then upload that to a link that is available on DecodingGreatnessBook.com, which will show you how to apply this information framework or mental model to your life to gain even more success. Thanks for supporting the show. Enjoy this interview with Dr. Ron Friedman.

Ron, it’s awesome to have you on. From your background, you’re a voracious reader and intellectual. You’ve already written one book. I’m excited to interview you. Thanks for taking the time. Welcome to the show.

It’s my pleasure.

I thought it would be helpful to start with what led to the decision to write another book. You wrote a book in 2014. Writing another book is quite an endeavor, especially Simon & Schuster being your publisher. What led to that decision?

TWS 13 Ron Friedman | Reverse Engineering Success

Decoding Greatness: How the Best in the World Reverse Engineer Success

I love reading. One of the best ways I can apply reading academic journal articles is translating that into plain English so that everyone has access to the insights. That’s the genesis of my first book called The Best Place to Work. In that book, what I did was I took over 1,000 academic journal articles and translated them into plain English so that regardless of whether you’re a CEO or someone starting out, you had access to the latest science about how to elevate your performance and create a great workplace. My background is in Social Psychology. My experience was I left academics after teaching for a period of years and I joined a polling firm. My job was to measure public opinion, figure out what customers believe and how we shift those opinions by applying psychological principles.

In that experience of being in the corporate world, after having studied top performance in the lab and writing about it in academic journals and book chapters, what I discovered was that there’s a massive gap between what science knows and what business does. I wrote a book that showed organizations how to become great workplaces, but there was something missing from that first book. What was missing is that even within the best organizations, there’s a range of performance levels. Some people are top performers, others are not. The question was, “What are top performers doing differently?” That became the focus of Decoding Greatness which identifies a particular skill that they have that is learnable to all of us that we can then use to both accelerate our abilities and succeed faster.

How would you characterize we? You put us in a group as far as how we succeed faster. Who’s the person that was in your mind as you were writing?

I’m thinking about business professionals who do work that involves some level of creativity and that’s about any kind of knowledge worker. If you think about creativity, the prototypical thought that comes to mind is artists or poets but creativity at its core is about problem-solving. We all need to be creative in the way that we approach to solve problems. If your job involves any problem-solving or creativity, this is a book that’s going to show you how to succeed faster.

How would you characterize the obstacles? What was in the way of those who were in these creative leadership positions? What holds them back?

This is the big idea of the book. If you think about the stories we’ve been told about how people succeed they fall into two camps, the first story is that greatness, top performance or success comes from talent. The idea is we all have certain inner strengths that we’re born with and the key to finding your greatness is to identify your talent and then find a field that allows your innate strengths to shine. The second story is that greatness comes from practice. This is the Malcolm Gladwell story, 10,000 hours and practice. Eventually, you will elevate your skills and get to a higher level of performance but within knowledge work and work that involves creativity, thought and problem-solving, there’s a third story. It is one that people don’t often talk about but it is a remarkably common path for artists, entrepreneurs and inventors. That path is reverse engineering.

Reverse engineering simply means finding examples that are the best in your field and then working backward to figure out how they were created and how you can apply them to create something entirely new. Within Silicon Valley, this is an approach that is very well-known. This is how we got the personal computer, laptop, mouse and iPhone but it’s also how Stephen King and Malcolm Gladwell learned to write, Pablo Picasso and Claude Monet learned to paint and people like Judd Apatow learned to write comedy. Reverse engineering turns out to be a lot more common than anyone had ever realized. It’s something we don’t often talk about. I wanted to bring it to the fore demystified and show people how they can apply it in their lives to become more successful.

When it comes to top performance, there is a massive gap between what science knows and what business does. Click To Tweet

You, as a psychologist, the specialty and understanding what makes people tick and why do they do what they do, you have to look at the two primary stories that you referenced. Those stories have been recurring over again. With psychology, we’re designed in a sense to develop habits. We keep doing things the way we’ve done them and it’s hard to break those habits. What are typically the events, feelings and experiences people in the camp of repeating those stories thinking that’s the road to success? What do they have to experience in order to be open to a new story?

There’s some truth to both of the stories. I’m not suggesting that talent or practice doesn’t matter. Both of those things matter. The challenge with those two stories, however, is that they’re not the only paths. More than that is we’ve been told these stories for so long that they’ve become problematic from the perspective of, “If I don’t feel like I have talent or ten years to invest in practice, then I capitulate.” I’m like, “Greatness is for somebody else. That’s not for me but this is a faster way to learn.” Part of the reason this has remained under the radar for so long is because we’ve been taught that if you study someone else’s work too closely then you’re going to copy their work, hack and there’s something wrong with you.

The truth is that’s how learning happens. We study others, figure out what their model is and then find a way to make it our own. To be clear, this isn’t about copy because even if you do copy, chances are you won’t be successful. The reason you won’t be successful is, let’s say I figured out what you’re doing on your website, I steal it and making my own. Some countries do that. They copy products and intellectual property. It’s not what we’re talking about. What we’re talking about is having an analytical framework for understanding why something works. To follow through on that example, if I copied your website, am I going to have the same revenue as you have? No, because there’s going to be a mismatch between my expertise, experiences, personality and your execution, number one. Number two is that audience expectations shift over time.

I gave an example in Decoding Greatness of the book Twilight. Everybody remembers this book. It’s about a teenager falling in love with a vampire. After Twilight came out, there was an explosion of young adult books about kids falling in love with vampires and they all failed. It wasn’t because they were all terrible. It was because audiences were familiar with the formula and were bored by it. What worked was a few years later, Abraham Lincoln fighting vampires. That exploded because it evolved the formula. That’s what we’re talking about. It’s figuring out why something works, identifying the different elements that make it unique and then combining it with other elements to evolve it in a new direction that allows you to be more successful by leveraging something that was successful in the past but also evolving it to make it consistent with your actual strengths.

What comes to mind as you were giving that example is that directly copying something is prone to failure. At the same time, there’s a framework such as a hero’s journey that is evident in so many different movies and books, yet it’s this very similar if not the same framework that then could be applied to what you were referencing before, the uniqueness and individual creativity of somebody.

I’ll tell you a story that builds on that. This a story in the first chapter of Decoding Greatness about Kurt Vonnegut. Everyone has heard that name. He is a very famous writer. What Kurt Vonnegut would do for fun is take stories and turn them into pictures. What I mean by that is he would graph them out where on the X-axis at the bottom from left to right was time from the beginning of the story to the end of the story. On the Y-axis from the bottom to the top was the trajectory of the protagonist’s fortune. Meaning, “How are things going for the main character? Are things good or bad?” As he did this what he realized is that if you take all the stories ever told, there are six basic stories. One of them is the hero’s journey. He called it the man in a hole.

The other thing he realized when he did this was that a lot of the stories that we have fallen in love with we don’t realize them but they’re the same story. They have different characters. He gives the example of Cinderella and compares that to Annie. If you think about it, it’s the same story. At the beginning of the story, both Cinderella and Annie are in a bad place. Annie is an orphan on the street. Cinderella was being abused by her stepsisters and stepmother, then something good happens. Cinderella gets invited to the ball. Annie gets rescued by Daddy Warbucks then something bad happens. Annie gets taken by people pretending to be her parents. The clock strikes midnight. Finally, they both live happily ever after by being reunited with the person they were meant to be with all on. It’s the same story. We don’t realize it.

TWS 13 Ron Friedman | Reverse Engineering Success

Reverse Engineering Success: A lot of the stories we have fallen in love with are the same story. They just have different characters.

 

Years later, computer analysts took thousands of movie scripts, Broadway shows, novels and looked to see what the patterns were. What they found was, analytically, Vonnegut was right. There are six basic stories. Once you know those formulas, many things become clear. For example, Harry Potter is a book that we all love. The movie is great. When you read it, it’s so easy to be enchanted by the characters, setting and storyline. When you step back and analyze what’s happening, what you realize is, “This isn’t the first time I’ve heard of an orphan who is living with his aunt and uncle who has whisked away on an adventure to find an evil villain and discovers their secret powers. There’s another story like that and it’s called Star Wars.” That doesn’t mean that JK Rowling’s work isn’t creative, entertaining or remarkable, but when you recognize that there’s a formula at play, that empowers you to create your own unique fit.

That’s why I wanted to go off on that tangent again. It’s the idea that there are these formulas out there that you can copy using the word you used before. It doesn’t mean that you’re not creative or unique. A lot of it is Psychology. You can have a lot of psychological background as to why these stories lead to a successful outcome. Let me get into the third story that you’re talking about, reverse engineering. What is that formula? How can somebody take that formula and apply it to their uniqueness and creativity?

What I love about this is that it is applicable to any field. Regardless of what you do, there’s a way that you’re going to be able to apply this. It is distinct to the particular field. To give you some examples, I’m a writer. Non-fiction writers will often go to the back of the book to the bibliography to see, “What are the sources that went into creating this book?” Chefs will order dishes to go. They’ll take an intricate sauce and line it up on a white plate. Sometimes there’s a magnifying glass involved and they’ll look to identify, “What are the ingredients that went into this dish?” Photographers will look for clues that are hidden within the image. For example, they’ll look at the reflection in the eye of the person in the image because that tells them where the light source was placed. They look at the length of the shadows that tell them the intensity of the light.

I don’t do that because I’m a novice but experts have these techniques that they use to work backward and deconstruct how something was created. The critical thing is to think about don’t passively enjoy something when you come across it, whether it be a website, well-written email or presentation deck that you found impactful. Take a step back and think about, “What’s different about this example? What can I learn from this? How do I apply this to the thing I’m working on?” To make this concrete, the first step to reverse engineering is to become a collector. What I mean by that is to start your collection of works that you consider remarkable. When we think about collections, we think about physical objects, artwork, wine or stamps. That definition is way too narrow. Collections extend to knowledge work as well. Designers collect logos. Marketers collect websites. I’m a writer. I collect powerful words, stories, academic articles and sometimes I look to pair them up, “What’s a good story that connects to this study?” That’s the key to supercharging your creativity.

Also, once you have that collection, you can start comparing what’s in that collection versus what didn’t make it. That process is like playing Spot the Difference, which we played as kids. We got two images side-by-side and compare them, “What’s different about this versus the other?” That’s what you’re looking to do here because of that process of getting analytical about, “What’s different about this?” example, once you do that consistently, you can’t help but identify the ingredients that made it successful and you’re forcing yourself to think on the blueprint’s level. You’re not thinking about like, “What’s happening on the word level?” You’re zooming out and looking at the totality of a piece. That’s where you start identifying patterns.

Let me take a step back when a person goes in and decides, “I’m going to start identifying patterns outside of what I’m doing to lead to more success.” It’s typically because they face some chokeholds, disruptions or challenges. Talent and effort only got them so far. The frustration of not being able to get to the next level typically in my experience at least leads to, “I need to find another path.” This next path is, “I’m going to go and reverse-engineer the successes that I see whether it’s at the macro-level or micro-level like a website, book, movie or leadership style.” When you’re reverse engineering this, what’s the other part of the formula where someone is able to extract the ideas and then apply them to their particular situation?

First, if you’re waiting until you’re in a bad place, that’s too late, you got to do this all the time. This is a mindset. This isn’t about a one-time shortcut or fix. We talked about starting a collection. You need a process. That process should be easy for you to use so that you use it. If it’s not easy, you’re not going to do it. For me, it could be bookmarking things. I can put things into Google Docs. Some people like to use Pinterest. You need a process that allows you to dump it somewhere quickly so that you don’t have to think about it but then you have that option to revisit it later on.

Figure out why something works, identify what makes it unique, and combine it with other elements to evolve it in a new direction. Click To Tweet

You asked, “What becomes the process for using this?” The answer is once you’ve started analyzing what makes things unique, you can create a template. I like to use the word templatized. It’s not a word. It should be a word because you can take a well-written email and figure out what’s happening in each of the paragraphs. I call this reverse outlining. Outlining is when you bullet-point what you’re going to put in a finished piece. Reverse outlining takes somebody else’s finished piece and then works backward to create an outline of what is happening in terms of order and chronology. Once you do that, you can create a template for yourself.

I’ll give you an example of how I learned this. This is how I came across the idea of reverse engineering and what initially sparked the book. In graduate school, I needed to write academic journal articles in order to get a job as an academic. I didn’t know how to do it. It was a painful process. Nobody taught me how to do it. There was no course on how to write academic journal articles. Everyone was supposed to go figure out how to do it themselves. For a long time, I was stuck. Until one day, I decided, “Instead of trying to stare at a blank screen and try to come up with it, I was going to take some other academic’s work, bury myself in it and read one article after another. Because this guy was a great writer, I wanted to understand why he was great.”

Through that process of reading one article after another, what I came across was a formula and it was apparent once you had read every article one at a time in a row. What you would discover is that he starts off the article by posing some startling facts, something that was surprising and eye-opening then he would pose a rhetorical question, do a literature review and then present his thesis. That was the formula. Once I knew that I had a template for writing academic journal articles. All I needed to do was find my startling fact, pose my rhetorical question, do my literature review and then present my thesis. That was my approach to identifying his formula.

Once I knew how to do that, I realized that I had an approach that I could use for writing anything. It’s how I wrote my first book proposal, book and presentation decks as a consultant, finding great examples, working backward, creating a template and then applying it. When I would share with people what I was writing in Decoding Greatness, if they were a creative professional, invariably the reaction was the same, which is, “I’ve been doing that all my life and never read about it. I didn’t know that was a thing.” The intention in writing this book is to show people, “This is how the top performers are doing it and how you can apply it to create your marketing materials or whatever it is you need to create, this is an approach that can help.”

Something is coming to mind and this may seem somewhat bizarre. Elon Musk has praised this idea of reasoning by first principles and talks about what first-principles thinking is versus how most people think which is thinking by analogy, taking what already exists and applying that by slight variation. How does reasoning by first principles differ than reverse engineering? Are there some similarities and harmony with those two ideas?

Reasoning by first principles is breaking something down to the primary purpose. If you look at Tesla, Elon Musk says that the first principle that led to Tesla’s success was creating a sustainable battery. If you go to SpaceX, he says that first-principles thinking led to being able to recycle rockets. It leads to this fundamental baseline idea. It wasn’t taking the electric car that already existed and improving it. In a sense, it’s reverse engineering. That’s why I’m asking the question, breaking it down to the fundamental principles and reasoning up from there.

I want to distinguish between reverse engineering as figuring out how person A created something versus reverse engineering as figuring out how I can learn from that thing that he created and recreate it myself. My focus is more about how I can recreate it much less than what was their intention or how they went about it because that’s irrelevant for me. What I’m more interested in is how I can build my skills. That’s the way I look at it. For example, I might be able to give you an analysis of Barack Obama’s speaking style or how Malcolm Gladwell writes. In the book, I reverse-engineer the most popular TED Talk of all time. It’s Sir Ken Robinson. I show you what he’s doing differently versus everyone else. I’m not interested in how he wrote it. I want to understand what makes it work and what I can learn from it.

TWS 13 Ron Friedman | Reverse Engineering Success

Reverse Engineering Success: The first step to reverse engineering is to start your own collection of works that you consider remarkable.

 

That’s where I see a harmony between the two ideas. That’s what I was trying to get to because it’s not necessarily using words or body language. It’s not the specific point but it’s more of the framework and the outlined idea that is general enough but not specific to exactly what they were talking about. Your book goes through a lot of this. As you look at what makes people tick, everyone wants to be successful but people aren’t. Some of it is the unwillingness to change because it is too hard.

It provides again that third path which I like. It’s not to discount necessarily paths 1 and 2 because there’s still relevance there but this is path 3, which is more of a shortcut. It’s the ability to find what’s already successful and the commonalities so that you can be successful. Number one, what are some examples that you’ve seen based on this work that led you to believe that this was the truth? What have you seen as failures of a person not able to take these ideas and apply them to their situation? It’s important sometimes to identify the successes but also, if you don’t use it, what’s going to happen?

We talked about Vonnegut as an example. He’s a prime example because it’s a real creative field. I’ll show you ways in which other people have applied this in a way that perhaps is different than the way you’re thinking. One of my favorite stories in the book is the story of Barack Obama. Most people don’t realize this. When he first entered politics, he was a little bit of a disaster. He got trounced his first race for Congress. He lost by a margin of more than 2 to 1. The problem, if you can believe it was that he was a terrible speaker. He was a law school professor. He was used to talking in abstractions and lecturing students. Voters do not like to be lectured to and they let them know when it came time on Election Day. He was lost for a while, broke and thinking about leaving politics.

When someone in his campaign staff said, “Why don’t you take a look at what pastors are doing at the church and how they’re engaging their listeners?” He came back a little while later and all of a sudden, his speaking style was transformed. He was now telling stories from the Bible, using repetition and inflections on certain words. He was modulating and his tone was slowing down at times for effect. That approach transformed him and the rest is history. What I love about that story is that Barack Obama didn’t go and find his talent. He didn’t spend 10,000 hours practicing. He looked at what was working in a different field and incorporated it into his approach. That systematic approach of looking around at other fields not what’s going on in your industry turns out to be critical. It’s to identify and spot the difference, “What are they doing differently? How do I apply this to my field?”

Another great example of this is The Doors’ Light My Fire. When you hear Light My Fire, it sounds pretty different. When you look at the story of how that song was written, initially, they came up with a song that was rock and roll. Some people in the band didn’t like it. They called it Sonny & Cher, which at that time was a way to dismiss something as not being unusual. It’s mainstream and lame. They decided that they were going to riff on this rock and roll song by adding elements from other genres to make it a little bit different. They added bossa nova to the beat and baseline. They started the song by riffing on Johann Sebastian Bach. Those different musical elements are combined to create something that was completely unique.

It was by looking at what was going on in different genres and combining the elements. That’s how creativity happens. “What happens when you don’t do this?” The problem is that we think that creativity is about thinking deeply and going inside, but that’s not how creativity happens. Creativity happens by looking at what’s going on in other fields, genres and combining the elements that are working into unique and novel combinations. We’re often told that practice is the way to get better, but the problem with that formulation is that outside of sports, you can’t practice an idea you’ve never considered. If you are looking inward and operating within intellectual blinders and if you want to get better, particularly in knowledge work, if you’re working in any white-collar job, the only way to get better is to study others and figure out why it is that their work is successful and how you can apply that to your work.

What goes through my mind is people are naturally inclined to be creative. It’s the formula for expression. There is no formula. People try to express themselves in different ways, and it doesn’t work. This is ultimately a formula so you can take that unique creativity and have the formula to express it successfully.

One of the formulas for evolving is willful ignorance. Click To Tweet

To make this concrete, let’s say you’re a real estate magnet reading this and you want to start a podcast. You have a formula you could potentially use by the one that’s used here or you can listen to other podcasts and figure out what you like about those podcasts and what makes them different. You can combine those elements and use them with your expertise to create something that is brand new that allows you to express your ideas in a completely new way.

The alternative to this is to find your talent. What are you good at? Think about it for yourself or practice. By the time you have practiced your 10,000 hours, no one is listening to your podcast because you were terrible the first 10,000 hours. You’ve got to get it right out of the gate. The way to do it is by reverse engineering what’s working for other shows. Maybe figuring out what other genres or forms of entertainment capture your attention and see what’s working there.

In my case, I’m a writer. It would be easy for me to say, “Gladwell is the most successful writer. Why don’t I figure out what he’s doing and apply that formula?” That’s not going to work because many writers have tried that. His work is now popular. People are aware of the formula. It’s not going to work if you copy his formula. In my case, what I have found as a reader is that I don’t have the patience for long stories. I like quick stories that get right to the action item. I embrace that about myself.

In my book, I’ve got hundreds of stories about both celebrities and business titans that show you why what they’re doing is working and how you can apply it. That style is a little bit different because it’s quick and action-oriented but I embrace that about myself as a reader and I’ve emulated that. I made it concrete as a writer and executed against it. The point here is not simply to copy blindly. It’s to be more sensitive to why something is successful, listen to your preferences and be methodical in bringing that to life.

Ron, this has been awesome. I’m learning a lot and looking forward to reading/listening to your book. Any final words? There are some definite nuggets of wisdom in this interview. Anything else you want to leave the audience with?

I want to emphasize something we said, which was that the stories that we tell ourselves about success matter. If you have assumed that you don’t have the talent or the 10,000 hours and therefore it’s too late for you to either switch careers or try something new because it’s never going to happen, I want to urge you to rethink that. This book is going to show you how to get there faster by learning from the best. All you need is a methodical approach to learning from the best so that you can accelerate success. That’s what Decoding Greatness allows you to do.

Especially these days, there’s so much information and media. There are so many ideas out there, people’s attention and capacity to learn is almost in this state of inertia. They’re looking for shorter ways and those nuggets. I like how you’ve broken it down into simple terms.

One of the strategies in the book for evolving formulas, in other words, we talked about if you take a formula that’s working and apply it to yourself, you’re probably going to fail. You want to evolve it somehow. One of the formulas for evolving is willful ignorance. What I mean by that is deliberately not listening to all the podcasts and not reading all the newsletters everybody else is listening and reading to because by tuning out the same influences as everyone else, you will have different ideas than everyone else. It’s about being very deliberate about what you consume and combine those elements with the best practices in your field. It’s all about intentionality and having a method. That’s what I’m trying to help people achieve.

TWS 13 Ron Friedman | Reverse Engineering Success

Reverse Engineering Success: The stories that we tell ourselves about success really matter. If you just assumed that you neither have the talent nor 10,000 hours to practice, you need to rethink that.

 

There’s a power with vulnerability and authenticity. It’s one of those first turning of the lock of creativity or at least the expression of creativity happens. It’s well said. Thank you for that final thought. Ron, it was awesome to meet you. Thanks again for being on the show. How can readers learn more about you? I know your book is on Amazon and Audible but do you have another material website? Are you on social media? Give out some of those links so that people can follow you.

If you’re interested in the book, you can get it in any bookstore, but once you do, go to DecodingGreatnessBook.com and send us your receipt because we will send you a free course on how to apply the strategies. You can also find me at RonFriedmanPhd.com and at my company website, Ignite80.com. The reason it’s called Ignite80 is because over 80% of employees are not fully engaged at work. The mission of Ignite80 is to teach leaders science-based principles they can use to help elevate people’s productivity, performance and make them healthier, happier and more successful.

We’ll have you back on to do another episode on that. Ron, you’re awesome. Thank you for your time. I appreciate it. It’s great to meet you. Good luck with your book.

Thank you.

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About Ron Friedman

TWS 13 Ron Friedman | Reverse Engineering SuccessRon Friedman, Ph.D. is an award-winning psychologist and founder of ignite80, a consulting firm that helps smart leaders build extraordinary workplaces.

 

 

 

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