Ask the Expert: Millionaire Maker – Loral Langemeier

This is Amplify You the podcast about you discovering your message and broadcasting it to the world. If you're a coach, author or speaker, you'll want to tune in. If you're looking for the best return on your time investment, to get your message out to the world in a bigger way. We're giving you full access behind the scenes look of how we're running our podcasts, how our clients have found success, and what you can do to launch your podcast today. The world needs your message. I'm Michelle Abraham, the host join my family as we unleash your unique genius and find the connections you need to launch your venture today. Join us and let's get amplified.

Hello Hello Amplify You family Michelle Abraham here today and have I got an amazing guest for you today, guys. I have gotten one of our amazing clients and feature podcasters lorilynn Mar here, and she is the millionaire maker. And oh my gosh, so many other things I want to tell you about her. But first, let's just say hi, hey, Laura, how are you? I'm good. Thanks. How are you doing today?

I'm great. And I can't wait to teach people how to be millionaires.

I love it. So let me just share a little bit more about you with our audience. And I know like I feel like most people already know who you are from your name. You've been on so many international stages, your entrepreneurial thought leader, Speaker been on tons of TV New York Times bestselling author five times. And I just think that I actually saw you speak in Vancouver probably about 15 years ago. And I was just like, you'd flown there in a private jet with your daughter. And your speaking I was like, I want to do that. And I just thought that was so cool. I'm so I'm very honored to have you here with us today on our podcast, and our entrepreneurs listening today. They start their business with like the the goal of being a millionaire. I would say most people do that's kind

of just like 100 How about at least 100,000 there?

Why is the 100,000 some of them start smaller, but I know their end goal is being a millionaire, why or not many people, especially women not making it to that millions,

What happens with most people is because you're taught that to get to actually make money, you have to have a job. And if you need more money, you get another job. What's not introduced early enough in life is being an entrepreneur. And most people don't know how to walk into being an entrepreneur. Some people are not designed to be it's better to be on a team. Women though, for example. I mean, it's fascinating to me, because I kind of laugh at the statistics are like, Oh my gosh, the pandemic has had so many people get to the workforce, it's like, they've all been in the workforce, I think the difference is they decided actually really getting the worst, like really create service and be an entrepreneur. But the number one mistake Michelle, that people make is they stay a solopreneur or you know that, that that just under their own, you know, whether it's a social security number to candidates or SSN number, you can't operate under yourself, you need to have a company with a different bank account, corporate structure, where you get to like legally write off all the deductions that you have with it. And most people I think, just say I'm gonna do a business, like as a side hustle to make a little money. And I think you know me well enough, I make fun of side hustles if you're going to create a side, hustle, hustle. Like the difference between a side hustle and a hustle in my vernacular is 100,000 if you're gonna go for it, don't get out of bed for less than 100 grand, it's a lot of work to be an entrepreneur. And I know that a lot of people tell you that. And as a mom, and if you're a woman out there and you have kids, bring them along with you, like bring them on this journey, put them in, you know, employment, your company. So I know I think there's a lot of reasons as you heard, I just like downloaded hundreds of like tons of reasons why. I think the biggest one though, is there's not a lot of us mentors. You know, Sharon Lechter was the only really woman mentor who was an available mentor like you could look at the Oprah's of the world and you know the whoever whatever the Martha Stewart has been amazingly financially successful. Elon has been successful. There's been TV people, but who's been out in the streets really helping and then being evey. ailable because there's a lot of CEO women, but they're not mentoring. So when you really think about women who want to look at women and want to be a mom and want to be a wife or want to be a partner, and don't know how to put it together, I think women just back out and play small. I don't think so. I know. So I've been doing this for too long. And I listened to him. And I think they should lean in and totally be the nurturer and the caregiver. I mean, I am I care for so many of my clients like you, do you care for me? Well, you know.

Well, thank you. And so

I think my massive step up and let us help you become amazing because you are, you just aren't ready to monetize yourself?

How would you suggest the first steps for someone to just like, step up and step into it? Call me. So

Wow. And we're how are they making the money? Is it like through their own like expertise? Or is it like what do you think the best strategy is?

Yeah, and I mean, I like that you're saying that it doesn't have to be something you love right away. I mean, could eventually be something you love, but just get started. And I think that's the key is just get started. So you were mentioning earlier about corporations and how you need to have a corporation company behind your business. So how is it too early right from the get go to start a corporation? Or do you need to have a little bit of revenue coming in first?

love that idea so much. We just got back from our team retreat in Mexico, I took our team members there and my kids came, they came to the one where we took our clients on a few months ago and just that exposure to different cultures, different people. I think that alone is really helpful for them to see and to see us like having a business and making our own money and doing our own choices and being able to afford those things because of those choices we've made I think has been really helpful in them growing up. So if you were to ask your kids, Laura Well, it's been one of the therapy Favorite Things like growing up with a mum and entrepreneurial Mum, what would you say that? What would they say?

Well, I know they would be different at this point, both of both of them would say, they've been to six or seven continents, they've traveled the world they've seen a lot. So they know they're extremely privileged from that perspective. I would say the, both of them would say their adult, their ability to interact and get out behind this thing with cultures and people from all over the world, and especially my son. I mean, he remembers meeting and flying on helicopters with Tony Ryan Blair, Colin Powell. I mean, Trump, we did the whole Trump tour, whether you like him or not, I mean, he puts on pretty world class stuff. I mean, the Kiyosaki, we're all doing our exposure and their exposure, which now fast forward. So I was talking about my son, he's 23 years old. You don't think he knows how to build a Rolodex, you don't think he knows how to build the database. He's in Congress right now. He was going to be an intern. He is an intern. I said, yeah. But speak to the like, you know, like, go straight up. If you want to meet a congressman, or go meet who you want to meet, you're in Washington, DC, for God's sakes, as you guys talk to the intern son party with him on the weekend, but like, during the day, go take them out for coffee. Anyway, fast forward, he's only been there about a little over a month, and he just got a massive job. Like he moved from intern to and, and he's got to be a CPA. So all of that, I think the interaction, the cultural interaction, the openness to just people just knowing how to make their own money at boat, my boat, my kids, I could set him free today, doesn't matter what I'm doing for generational wealth, that's just going to be additive. Because I want a huge generational legacy around the work that I've done. But my kids both could go make their money and be totally independent today. And they do things like tutor. And again, get your kids as a mom, that's like, you know, don't become the bank. I don't care how old they are. My kids started little companies when they were four. I mean, clearly I'm around and I'm helping them but have them not think Oh, mom and dad or the bank, I have to go ask them for money. What could they do? Like my kids, both tutors still do today, my daughter nanny, she does a lot of graphics. She does video editing. He does all of our travel. He's a complete travel agent. He knows how to book travel and build up credit card credit points like crazy. So engage them, have them be part of the family dynamic. And I think the moms, especially speaking to moms out there, you're gonna have a way better experience in being an entrepreneur, because you're not gonna feel guilty. They're gonna come along. I hate them when they come along. Like my kids did order forms. I mean, you remember my daughter, she passed out card picked up cards, and I said order forms. She got paid that day very specifically for those tasks. So there's a visual immediate gratification to it. Not like it's just part of a paycheck they don't see.

Amazing. What do you wish people knew about making money that is not talked about a lot.

Those are great. It's so good. You have so many Laurel isms. And one of the ones I love is like lazy Assa. Oh, why don't you just dive into that word for a minute? Because I think that will have helps propel people.

Yeah. Well, the reason I talked about lazy assets a lot. And again, like in my career, I had to go back and teach people how to make money to get the voice to go, you know, to learn to invest is if you're not making a lot, you don't need to learn a lot about investing because you're just going to make and spend. That's the pattern of broke people. When you make and your attention is I want to go buy property. Like I think my daughter would be an amazing interior designer. I know she would I mean her ability to craft an entire city in Minecraft. The one way her mind works is fascinating. So I'm gonna go out and buy probably a duplex or four Plex with her. And we're gonna go rehab together my daughter. She's like, Mom, you're crazy. I said, Yep, I probably am. But I know once you get the rhythm of it, because of like, just her own room is like her her friends come over her room ago. Oh my gosh, let me just her own little interior designer of her room. I said you can do this like and she would be amazing. But again, I am going to go give her the experience of it. If she doesn't like it, we'll flip the house make some money, we'll be done. She likes it. That could be a new, you know, career path for her. Yeah, what if you engage your kids, don't leave them back there and say, you know, this is my personal life and this is my professional life. You have a life. Bring them all.

I love it. So resonate with that we moved off a grid we live like on a lake, we're gonna take a boat to my house like, and my kids were like, now they're immersed in like they have to see me wearing the hat. It's a part of our heart of our life. So I just resonate with that a lot. LAUREL I know your time is so precious. And we want to thank you so much for having me and for being here with us today. And spending the time where can we you're gonna give a couple tickets away to your event we're gonna put that in the show notes link where else can we connect with you as Laurel go ask questions there.

Asklaurel.com is asking any questions there and to get the tickets in fact we'll we'll code them so we know everybody's come from your direction. If you go to Laurel Lor A L dot club you can get actually an e book copy of the millionaire maker I just remembered this link and you can get two tickets to the millionaire intensive and it's every three weeks so we're doing one March 16 So I'm not sure when we're podcast is airing but every three weeks on a Thursday or here dive and I teach it I don't sell it out to you know my protegees I teach it so I want to be with you front facing and help you with your money and business issues.

I love it. Well thank you so much for being here with us today. You've given a lot of insight to our audience and a lot of things for them to think about and I just love the your attitude of just get started and make it a business right from the get go because you're setting that intention, you know right from the beginning. So thanks so much Laurel, have a fabulous day and amplify your family go out there. Go get Laura's book go to ask her Oh, go get the tickets or event she will change your life and you will not regret it. Have a great day everyone.