Start Thinking Rich
In this episode of Richer Soul, two incredible guests, Dr. Brad Klontz and Adrian Brambila, dive deep into financial psychology and the entrepreneurial journey. Brad, an expert in behavioral finance, shares his insights on the mental roadblocks we face with money, while Adrian, a successful internet entrepreneur, offers a unique perspective on building wealth through hard work and creativity. Together, they explore the intersection of money, mindset, and success.
Key Takeaways:
Money Learning:
Inherited Money Beliefs: Brad shares how growing up in a lower-income household with strong work ethic values influenced his approach to money. However, as he advanced in his career, he realized the importance of addressing his limiting beliefs around wealth accumulation, which he terms "money scripts"—subconscious beliefs about money that can hold people back financially.
The Role of Mentorship: Adrian highlights how mentorship played a pivotal role in shaping his financial knowledge. From learning about Roth IRAs in college to understanding the power of minimalism and online entrepreneurship, mentors guided him toward smart financial choices.
Bios:
Key Discussion Points:
Brad’s Story: Brad reflects on his journey from racking up $100,000 in student loan debt to discovering the field of financial psychology. A pivotal moment came when he lost money trading stocks and realized his psychological patterns with money were holding him back. This motivated him to explore why “intelligent people do stupid things with money” and led him to research money scripts.
Adrian’s Entrepreneurial Path: Adrian shares his early life growing up in a Mexican immigrant family and the lessons they instilled about working hard for money. His journey from running parts at a Toyota dealership to becoming a six-figure entrepreneur illustrates how grit and resilience, combined with a minimalistic lifestyle, can lead to financial freedom.
Overcoming Money Trauma: Both guests discuss the importance of addressing money-related trauma. Brad reveals how money trauma can manifest in poor financial decisions and how therapy can help resolve these deep-seated issues. Adrian touches on how cultural and family influences affected his money mindset but how he learned to transform those influences into a source of strength.
Achieving Financial Independence: Adrian explains how his transition from a traditional job to making money online gave him control over his time and financial future. He stresses the importance of diversifying income streams and being adaptable in the face of challenges.
Conclusion: This episode provides a comprehensive look into the mindsets behind financial success, highlighting both the psychological and entrepreneurial aspects of money management. Brad Klontz and Adrian Brambila offer valuable lessons on how to overcome mental roadblocks and take actionable steps toward financial independence. Whether you’re struggling with money trauma or looking for inspiration to build your wealth, this episode offers tools and insights to help you achieve your goals.
Check out this previous episode with Brad Klontz: Ep 391 How to Master Your Financial Psychology with Brad Klontz: https://richersoul.com/ep-391-how-to-master-your-financial-psychology-with-brad-klontz/
Links:
startthinkingrich.com/rocky
@DrBradKlontz.
Adrian Brambila Official Site: https://adrianbrambila.com/
Richer Soul Life Beyond Money. You got rich, now what? Let’s talk about your journey to more a purposeful, intentional, amazing life. Where are you going to go and how are you going to get there? Let’s figure that out together. At the core is the financial well being to be able to do what you want, when you want, how you want. It’s about personal freedom!
Thanks for listening!
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Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
The Mentally Strong Leader
In this episode of Richer Soul, Scott Mautz, an acclaimed author, keynote speaker, and former Procter & Gamble executive shares powerful insights from his new book, The Mentally Strong Leader, focusing on how mental strength can be the leadership superpower that helps people overcome adversity and thrive in their personal and professional lives. The conversation touches on Scott’s personal journey, the six “mental muscles” every leader needs, and the science behind building effective leadership habits.
Key takeaways:
Money Learning:
Scott shared his first major money lesson when he ran a pool-cleaning business as a high school student. He quickly realized that profitability hinges on a simple but often overlooked principle: your revenue must exceed your expenses. This early lesson in financial management taught Scott the importance of understanding costs and managing a business efficiently. Interestingly, Rocky pointed out that many adult business owners still struggle with this concept, underscoring the critical need for better financial literacy, both in personal and business contexts.
Bio:
Scott Mautz is the founder and CEO of Profound Performance, a keynote training and coaching company. He is a former executive at Procter & Gamble, where he successfully ran four of the company’s largest multi-billion-dollar businesses. Scott is also a multi-award-winning author, with titles including Leading from the Middle, Find the Fire, and Make It Matter. Named a “Top 50 Leadership Innovator” by Inc.com and a "CEO Thought-Leader" by The Chief Executives Guild, Scott is dedicated to helping leaders cultivate mental strength. He is also a faculty member at Indiana University’s Kelley School of Business for Executive Education and a top instructor at LinkedIn Learning.
Key Discussion Points:
Building Mental Strength: Scott emphasizes that mental strength is crucial for leadership, especially in today’s fast-paced, high-pressure world. He introduces the concept of six “mental muscles” that leaders need to develop: fortitude, confidence, boldness, decision-making, goal-focus, and messaging. These are the pillars of mental strength, and they help leaders stay resilient in the face of adversity.
Habit-Building Science: One of the key elements of Scott’s approach is the idea of habit-building science. He explains how habits can shape behavior and how leaders can build mental strength by adopting practices that reinforce resilience and clear communication. For example, reframing setbacks as opportunities to learn is a habit that strengthens fortitude over time.
Confidence with Humility: Scott points out the importance of balancing confidence with humility. While confidence is necessary for effective leadership, it must be tempered with a willingness to listen and adapt. This balance creates a culture of trust and respect within a team, which is essential for long-term success.
Reframing Setbacks: Scott shares practical strategies for reframing setbacks, an essential habit for mental strength. Leaders often face challenges, and those who can view these moments as learning experiences rather than failures build resilience. This mindset shift is crucial for staying positive and proactive in difficult times.
The Power of Messaging: Effective communication is one of the core “mental muscles” Scott talks about. He explains that leaders need to send clear, purposeful messages to their teams. This requires intentionality, precision, and consistency. The ability to convey the right message at the right time can make all the difference in motivating and leading a team.
Conclusion:
In this episode, Scott Mautz delivers a masterclass on the mental strength required to lead effectively in today's challenging world. His insights on habit-building science, resilience, and leadership balance provide listeners with practical tools they can apply immediately in their personal and professional lives. Scott's personal journey, from learning tough money lessons early in life to leading massive organizations, offers a compelling example of how anyone can cultivate mental strength. Whether you are a seasoned leader or just beginning your journey, this episode is full of wisdom that will help you build the mental fortitude necessary to thrive.
Creating Clarity
In this episode of Richer Soul, we dive into the world of leadership engagement with Chad Brown, a seasoned expert in coaching founders and executives. Chad has a unique approach to helping leaders unlock their full potential by mastering both the art and science of leadership. Through his coaching, he empowers his clients to achieve unprecedented results while also finding fulfillment in their work. Let’s explore Chad’s fascinating journey, the insights he’s gained from his experiences, and the lessons he shares about leadership, growth, and living a purpose-driven life.
Leadership as a Balance of Art and Science: Chad explains that effective leadership is both an art and a science. While technical skills and knowledge are important, emotional intelligence, trust-building, and personal fulfillment are equally critical in becoming a successful leader.
Work-Life Integration, Not Balance: Chad challenges the traditional notion of work-life balance, calling it a myth. Instead, he advocates for work-life integration, where professional and personal lives are aligned to bring purpose and fulfillment across all areas of life.
The Power of Trust in Leadership: Chad highlights two types of trust: one that can accelerate team performance and one that can be devastating. Understanding and fostering the right kind of trust in your team and clients can significantly boost the effectiveness and success of a leader.
Creating New Results through Leadership: Leadership, according to Chad, is about guiding teams and clients to create unprecedented results. This requires constant development, tough conversations, and a willingness to push beyond comfort zones.
Lessons from Financial Struggles: Chad’s early experiences with money were marked by financial instability, particularly from his father's work as a drywall contractor. These struggles taught him about the scarcity of money, and the whiplash effect financial issues can have on family plans and emotions, like a canceled family trip to Disneyland that left a lasting impact.
Work Ethic from a Young Age: Chad started working at the age of 12, helping in his father’s drywall business. This experience gave him a strong work ethic but also ingrained some less-than-ideal money habits that he later had to overcome. His experience taught him that hard work doesn’t necessarily equate to smart money management.
Changing the Money Narrative: Chad discusses the importance of rethinking how we view money. By shifting away from unhealthy habits and beliefs that were picked up during childhood, it’s possible to form a healthier relationship with money and create financial stability.
Financial Coaching in Leadership: Chad shares how leaders often need to develop their financial understanding to be better managers and decision-makers. His coaching includes guiding leaders to overcome their limiting financial beliefs, thereby unlocking new possibilities for both personal and professional growth.
Bio:
Chad Brown is a leadership engagement expert and the founder of Chad L. Brown Coaching & Consulting. He coaches leaders to create new, unprecedented results through a combination of leadership science and personal fulfillment. His passion for leadership ignited while running a media production company, Shade Tree Films, which serviced global brands like Volkswagen, Target, and Pixar Animation Studios. After selling the company in 2021, Chad focused on coaching full-time, working with founders and executives to help them navigate the challenges of leadership. When not working with clients, Chad enjoys embarking on wild adventures in the Utah mountains with his family.
Key Discussion Points:
Early Experiences with Money and Work: Chad shared that his early experiences with money were not ideal. Growing up in a small town in Utah, his family struggled financially. His father, a drywall contractor, worked hard but often faced financial instability, which left a lasting impression on Chad. One particularly painful memory was a canceled family trip to Disneyland due to unexpected financial troubles. This experience shaped Chad’s perspective on money, hard work, and the importance of financial stability.
From Shade Tree Films to Leadership Coaching: Chad’s journey into leadership coaching began with the founding of Shade Tree Films in 2008. The media production company quickly grew, servicing major global brands. While running this business, Chad discovered his passion for leadership and achieving results through others. After selling the company in 2021, he transitioned to coaching full-time, working with founders and executives to help them navigate the challenges of leadership.
The Art and Science of Leadership: Chad emphasizes the importance of balancing the art and science of leadership. He coaches leaders to not only focus on results but also to find fulfillment in their work. He discusses how effective leadership requires understanding both the technical aspects of managing a team and the emotional intelligence to foster trust and connection within an organization.
Work-Life Balance vs. Work-Life Integration: Chad challenges the idea of work-life balance, calling it a myth. Instead, he advocates for work-life integration, where personal and professional lives are harmonized. He believes that leaders should focus on integrating their passions and purpose into both their work and personal lives to create a more fulfilling experience.
Free Resources for Founders: Chad shares his free assessment, the "4 Pillars of Founder Freedom," which helps leaders identify key areas for growth and scalability. He also offers access to his resource, "5 Critical Founder Beliefs That Kill Scalability," which outlines common beliefs that hold back leaders and how to overcome them.
Conclusion: Chad Brown's insights into leadership and personal growth offer valuable lessons for anyone looking to improve their effectiveness as a leader. His focus on integrating purpose into leadership, embracing difficult conversations, and achieving fulfillment in both work and life makes his coaching approach unique and impactful. If you're a leader or aspiring entrepreneur, Chad’s lessons are a must-learn for achieving lasting success and satisfaction.
Unlocking Joy: The Power of Daily Gratitude
Harnessing Quantum Physics for Personal Growth and Healing