Kimberly Spencer (00:04)
Hello, hello and welcome back to the Crown Yourself podcast. I am your host, Kimberly Spencer, and I am so honored to have with me Lloyd James Ross. He is an entrepreneur, investor, international speaker, and the host of the award-winning podcast, Money Grows on Trees. Lloyd has built multiple seven-figure businesses, earned a two-comma club award from ClickFunnels, and holds the Legacy Club millionaire title with Isagenix. But beyond the accolades is what truly sets Lloyd apart is his approach to time.
which is why I have him here today to discuss his latest amazing book, Becoming Time Rich. My favorite quote already is, results are all that matter. You don't get extra points for working harder or putting in more effort. And if the devil can't make you sin, he will make you busy. Lloyd, welcome to the Crown Yourself podcast.
Lloyd Ross (00:51)
⁓ Hey Kimberly, what's up? Thanks for having me on. That's
a very nice introduction. So I'm excited to be here and to, you know, talk about this, this incredible concept of time is more valuable than money. There you go.
Kimberly Spencer (01:06)
It is a concept that I have loved and lived by though not always lived by. And since you are so well-versed in money and your podcast with Money Grows on Trees is goes so deep into it. I wanna kick this off with first asking what is the future of money that you see right now?
Lloyd Ross (01:25)
Well,
it's a really interesting question because there's a very obvious popularity to Bitcoin as a currency. And it's funny with Bitcoin, you hear most about it when it hits a new record high in fiat currency. And so all the Bitcoin holders, they get excited for fiat gains. And it's very much a paradox.
Kimberly Spencer (01:42)
Mm-hmm.
Lloyd Ross (01:51)
because you can't have one without the other. So I find a little bit amusing. mean, I think what's happening in the world of money is that people are looking for a stable currency because what we've all experienced in the last, say, four years since COVID is incredible inflation and inflation is a pernicious tax on us. It's a tax and it's brought about by government spending. That's how it's created.
And once they debase the currency from the gold standard, they were able to print money, which they've done. And it has absolutely wrecked the value of fiat currency across the world. And if that continues, they will inflate the fiat currency to nothing. And I think people are gotten onto that. So what they're trying to do, by all rights is trying to prevent inflation from wiping away their wealth. they're buying things like Bitcoin and gold has gone on a 44 %
care this year, because people are searching for it for this ability to not lose wealth. But I'm not one of those people that has bought Bitcoin or not one of those people that's bought gold. I tend to I'm a bit of an agitator when it comes to those types of currencies. Because I'm a business guy. I'm a real assets guy. So like I like to buy productive businesses, productive public companies, which is stocks.
Kimberly Spencer (02:58)
Mm-hmm.
Lloyd Ross (03:06)
And of course, I am I am a proponent of real estate, but in the last couple years, I haven't been because it's been completely overvalued. And I think what we're seeing now, especially in the United States is we're seeing our home prices now come down. And we're seeing it in Canada. We're seeing it in New Zealand. The only place we're not seeing it yet is where I live in Australia, because we have this immigration policy that's preventing it. you know, so I that's what's happening in the world of money where it's going to go in the future. I'm not too sure.
but it is difficult to replace the USD as the reserve currency because it's actually backed by the United States, which is the most powerful country in the world. it's not, you you're not going to wake up one day and all of a sudden it's not going to be there. You know, like the currency is going to be there. So I, these things tend to not be solved so quick to change. It will be a gradual thing.
Kimberly Spencer (03:42)
For now.
Yeah, I think there is an interesting correlation that I'm seeing economically between time and money. And I think your book, Becoming Time Rich, came at an incredibly timely time for focusing on what is true wealth.
Lloyd Ross (04:06)
Ha
Yeah, and you can get caught up with ⁓ true wealth being just about money, because when people say, I want to be successful, what they mean is I want to be financially successful. And what they also mean when they say that inadvertently is they want to be seen to be wealthy amongst their peers, to have the things their peers don't have to generate social status and social standing. And that's generally what they mean by that. The problem with that is that if you just chasing money and social status,
It's an endless, endless game that you cannot win. don't think so. often in my life, there's been periods where I've probably tried to get some status, but really I've learned to actually build a life where I have more flexibility of my time. And I made the decision in 2010, after I read the book, The Four Hour Work Week that I wanted a four hour work week that really
set the scene for me as to what my vision would be for my life. I wasn't one of these people that wanted to just endlessly work and even build a big business with lot of people. I never had that conquering objective. I had a lifestyle objective. And the reason for it is because time is so valuable. I didn't want to be one of those people that went to work till 65 and regretted just being in the office all the time. And it just didn't make any sense to me. I was like, well, this doesn't make sense. And then later on, as I talk about in the book, I learned that
one doesn't negate the other. That was an interesting revelation for me that I could have wealth and I could have time. And I think that was the paradigm that broke for me and I shifted into a new one that completely transformed how I think about money, how I think about time. I can have both and by all accounts, I have both because only two days ago I got back from a month with my wife in Thailand and we only came back because we have a little dog and
We didn't want him to forget who we are. So we could have saved that, but we had this life where we have flexibility, we have geo flexibility, have, I mean, I work from home, I don't commute. We've really built a life that's really, that suits us for what we wanna do, with who we wanna do it with, when we wanna do it. And so you can actually have both, money and.
Kimberly Spencer (06:02)
You
Yeah, think
it was the question that was posed to you in the beginning that you wrote about of when did you decide that having more businesses meant you had to be busier? That cracked me open. ⁓ I was literally breastfeeding my daughter as I read this and like tears came down. That was such a paradigm shift.
Lloyd Ross (06:32)
Yeah. Crack me open too. Crack me open too. Yeah.
Wow. So good.
Kimberly Spencer (06:50)
What in your quest to become time rich though, what has challenged your ego the most?
Lloyd Ross (06:56)
Well, what challenged my ego the most was that the feeling that I had to do it all myself because I was either the best at that, or no one understood it as well as I did. No one could do it as well as I could do it. No one cared about as much as what I cared about it. And that, that prevented me from scaling the productivity in the businesses and starting more businesses because you have to relinquish control and you have to give up the ego that you're not the best in your business at everything. That happened to me. There's a story in the book.
where it really happened, like where I've released the control completely. we scaled massively in our education business. We are wanted on a friend's yacht in the sea of Cortez in Mexico. And we were going out for six days on this yacht, this private yacht. And at that time, right when we left the harbor at La Paz, our sales team was coming in to take over the sales of one of our businesses that I'd never done before. And I was like biting my nails thinking,
is this going to work? And then as we left the harbor, all of the phone reception went away. Like there was no wifi, there was no, this is before Starlink, there was nothing. I couldn't even send a text message. And then my friend said, yeah, you won't be able to get that for six days. I was like, what? What? We just, like, I had nowhere to go. And so I had to be patient and just put my phone away for six days and I came back.
Kimberly Spencer (07:55)
Hahaha
Lloyd Ross (08:18)
And we got into La Paz Harbor six days later. And I remember my phone pinged and I ran upstairs and I tried to get reception and our first sale came through that I didn't do. I had no impact in the business in six days. And it just absolutely went on a tear to multiple millions of dollars beyond that. So I was the roadblock. I was the bottleneck in the business. I was. And yeah. And I then applied that same principle across our other businesses and they all did better.
Kimberly Spencer (08:37)
Yeah, so.
What do you find is your zone of genius as the visionary? Because this is something that our audience really struggles with because it's in the relinquishing of the thinking. It's not just a task. It's easy to start hiring the tasks and delegating that. But once you get to a certain level, there's a level of thinking and training that thinking or hiring for that thinking that gets tricky.
Lloyd Ross (08:58)
Yeah.
Well, that's because you don't hire for the thinking, partner for the thinking. So that's the difference. And partnerships, which is what I talk about in the book too, is that partnerships are the most potent way to scale your time and money at the same time. Like we have one of our businesses, I've got a partner in the market who does the marketing and his brain and his efforts and his strategy, strategic thinking are there.
Kimberly Spencer (09:12)
Hmm
Lloyd Ross (09:36)
And I haven't the other partner, he's he's in the acquisitions. So he's in the backend sales team, he runs the sales team, and his think strategic thinking is there. And I'm on the delivery side, and my strategic thinking is there. So I don't, I do think about the marketing, I do think about the sales, because we have, you know, monthly meeting and buy it bi weekly updates. But we're all rowing in the same direction, but we are in charge of different things. And that alleviates your need to
be tinkering with everything in the business. But the reason they are they are strategically thinking about is because they have ownership. Like, like they have, it's a handshake agreement, but they have ownership of their space because one, they participate in the profits of the business. That's why their partners and two, they have autonomy and ownership, I don't micro manage them. And by doing it, setting it up that way, you're enabling them to be strategic thinkers. So
Kimberly Spencer (10:31)
that's such liberation right there.
Lloyd Ross (10:33)
Yeah, like, I would say partnerships is when that's the area most people should get good at. It's just so much easier. Like we bought a business I talked about in the book briefly because my business partner said please don't tell everyone about our business strategy. So I allude to it in the book. And we bought we're buying a group of laundromats. And so we've already bought our first one we're looking for our second acquisition. And
Kimberly Spencer (10:49)
you
Lloyd Ross (10:59)
I wouldn't have been able to do that had I not learned the partnership rule because I wanted to own them because I was listening to Cody Sanchez forever. And I mean, I've always wanted to own a laundromat. It's a very good systemized business. it's not going to be, you know, disrupted by AI. It's, it's quite incredible business actually. And I wanted, but I can't even do my washing at my own house. I, I, I, I'm not a mechanical person. It's, I'm, it's not my zone of genius.
Kimberly Spencer (11:07)
Yeah.
Lloyd Ross (11:24)
But I wanted one because I'm a business guy. I'm a finance guy. I understood what a good business deal looked like. I could finance it. I could do all that stuff. And so I needed an operator. So a buddy of mine had a coffee with me once. He showed me a real estate deal. He was trying to do one of my opinion. I said it was terrible. He said, well, what should I do? I said, well, you're an operations guy. Why don't you buy a laundromat? He goes, I don't have the money. I said, well, I've got the money. I would buy that. But how about we go into partnership? He said, sounds good. So we shook our hands. That was about 18, 12, 13 months ago.
And we went and bought one. Now he does the operations. I've only been there once. Just because I was interested to see what it looked like. But so like, that's the type of partnerships you can develop. That's that it's collaborative. It's the only way like look at Elon Musk. I believe he's based in in in Texas. Yeah. And so look, look like he would go he's got like
Kimberly Spencer (12:02)
I love that.
Yeah.
Yeah, outside of Austin.
Lloyd Ross (12:23)
I don't know how many companies he's got. I've lost count. But the reason he's done that is because he has systemized them delegated and he's got partners in those businesses. No question.
Kimberly Spencer (12:31)
Mm-hmm.
Yeah.
When you're sourcing a partner, how did you discover what your zone of genius is compared to other people's? Where you know to a T, like this, not just the resources, but the skill sets that you bring to the table that are uniquely yours, only you do really phenomenally with ego aside.
Lloyd Ross (12:49)
Yeah.
Well, it's, it's how you feel about the work that would dictate that. like, I can do sales, but I'm not like, my God, I can't wait to do my sales calls. So I can do it, but it doesn't bring me joy or light me up. I can do marketing. That doesn't bring me joy and to run an ad account. So your feeling towards those things will tell you what your zone of genius is, because what you should be able to do is work in an area that lights you up in your greater
Kimberly Spencer (13:07)
Mm.
Lloyd Ross (13:25)
So two things. So for me, it's the delivery is the teaching. I've got a high spiritual gift in teaching, exhortation, you know, leading, I lead teams. Well, I like to, I like to deliver and teach and influence people. So I'm, stay in that zone. I had to find people for the other two areas though, which was marketing and sales. And I even had to get an assistant in the delivery side of the administration of it because I don't like administration of delivery. like to
do the do. So I think it emerges as you build the business, you will feel irked by an area or lit up by an area and that is telling you where you should sit in the business and you should, as Dan Sullivan says, he says "You should outsource everything but your genius." But when it comes to partnerships, partnerships is not so much when you first start out like who's good at what it's more about like, generally speaking, you have five things you have skills.
Kimberly Spencer (14:07)
Mmm.
Lloyd Ross (14:20)
network, you have money, you have time, and you have energy. So they're the five things that everyone has, or hasn't got. And the idea of a partnership is to find which ones of those you have. Like, let's say you only got three of them, and then find the person that's got the two missing ones. So it's like a jigsaw puzzle that comes in and connects. So like, for example, with our laundromat business, I had the money, I had the network, I had
What else did I have? Skills? Oh, no, I didn't have the skills. I had no money in the network. was it. I had to think I had to. And then I had, you know, like and I needed the three. So Adrian came along with the energy, the skills and the time. So I even said to him, I said, man, I don't have time for this. You have to know this. I don't have time for another business. Like, just so you know, so you're coming in to fulfill that gap. And I know you don't have the money. So I'm bringing that to the table. So I think those things emerge.
Kimberly Spencer (14:53)
Hahaha
Mm-hmm.
Lloyd Ross (15:18)
and you find your feet in the business. Now what has to happen at that point is when your partner shows strength in an area, you have to let them run with it. You don't both have to be the best at it. Just find where you sit and do it well there and compliment each other. And if you're both complimenting each other, it's a wonderful partnership.
Kimberly Spencer (15:29)
Yep.
that's that a hundred percent speaks to an experience I had with my e-commerce business over a decade ago. And letting them run with it was the hard one. Cause my, ⁓ my partner brought the money and I brought the time and sweat equity and, but the letting them run with it, that was where we clashed. And I think that, eventually within two years, the partnership dissolved and I had a buyout, but that experience really showed me.
Lloyd Ross (15:57)
Yes.
Kimberly Spencer (16:10)
where skill sets are and in recognizing and really honoring your Zone of Genius and other people's Zone of Genius. My partner is great in the admin side. I am not. Very much not so. and I love that you brought up Dan Sullivan because you took Dan Sullivan's famous quote of like, it's who, not how. And you took it a step further of finding the who for the who. So you don't have to do the how. And that is partnerships.
Lloyd Ross (16:28)
Yes.
Yeah. Yes. ⁓
yes, that's partnerships. That's correct. Yeah, that that's the who for the who like our sales, my partner in the in the education business who looks after the sales, he recruits and train sales team, he recruits and trains appointment centers and he brought in like, it just prevents me having to deal with too many people use have one core person and I deal with it. Yeah. So the who for the who
Kimberly Spencer (16:50)
Yeah.
What belief about money or time do you find yourself ever still wrestling with, do ⁓ you find yourself ever wrestling with, know, privately, if after everything you've taught, you're like, ⁓ this belief still comes back up.
Lloyd Ross (17:01)
Bye.
Well, yeah, because we're not none of us. We don't we're not perfectly we're not perfect. So like when you write a book, it's an interesting experience when you write a book is you write it for yourself as much as everyone else. Like, I write this book, this book just as much for me as I did for everyone else, because I wanted to be better at my time over money ⁓ mentality. And I wanted to be better at being a time master. So it was, you know,
Kimberly Spencer (17:15)
We're not perfect.
Okay.
Lloyd Ross (17:34)
it serves that purpose too. Because we sit on a scale of being the time master or not the time master. In fact, wealthiness and busyness sit on polar opposites of the same scale. That's why you'll find a lot of busy people aren't that wealthy. And a lot of wealthy people aren't that busy. And so I wrestle with occasionally I get opportunities come up where I can do a keynote talk or I have an opportunity where I can go make some money.
Kimberly Spencer (17:48)
Mm-hmm.
Lloyd Ross (18:04)
And I have to stop myself and turn down certain opportunities to get paid because that's working hard for money. It's working hard for a one time payment. And so I have this, I had this idea to go on this keynote circuit and speak. I had to pull myself back and say, what the heck are you thinking? Like that is just, it is working hard for money. Whereas what you want to do is you want to build a system that
Kimberly Spencer (18:26)
Hmm.
Lloyd Ross (18:30)
produces money consistently, which is what our one, three, four businesses do, they do that so well. But I can still be seduced by, I want to go do a bit of work here and get paid like a laborer, you know, like, I got out of that. So didn't have to do it. you do get seduced back in to these opportunities to go and make some money. And I think Robert Kiyosaki sums up pretty well when he says, you know, don't the poor work hard for money. And so it's like, well, if I can work hard to
Kimberly Spencer (18:42)
Yeah.
Lloyd Ross (18:58)
build a system that produces consistent money, what I'm doing is I'm actually building a time machine. And I much prefer to build those time machines, which are businesses that I do to just go work for money. Does that make sense?
Kimberly Spencer (19:10)
yeah.
One of the things that I really identified with in your book was the busier you are, the poorer you get. And it's really interesting when I remember back years ago in my first business, I was a freelance Pilates instructor. was 19 years old. I knew nothing, but I taught in a really wealthy community. And there was a big difference between people who were busy, wealthy, I mean, they had money.
But I wouldn't say that they were wealthy because they were busy themselves with things that were not purposeful. So when you free yourself of the need of money because you are not only wealthy, but you also have time richness, how do you maintain that alignment with your purpose?
Lloyd Ross (19:42)
Yeah.
well, you still have a purpose. just transcend the, the, the laboring part of that purpose. So you, your, your work style and input changes, but the purpose remains the same. Like in, in, in, in, my businesses, my, my, for three of them, the objective is to help people make, manage or multiply their money. That that's across the three of them in our education business, our network marketing business, and our.
Kimberly Spencer (20:03)
Yeah.
Lloyd Ross (20:23)
events business. That's the objective. So that's the purpose. And I've never lost that purpose. That's the the whole idea why we got into it. That remains but where you sit in the business you want to sit in the highest ROI of your time into those businesses and that's not at the base level, sending the emails and
You know, like that's not, that's not where you want to sit. You want to sit at the place you have the most leverage, the highest ROI of your thinking and time. And so the purpose shouldn't change, but the type of work you do should change and will change. You'll transcend it generally.
The purpose for me has always been well, can I work in a capacity that helps people, changes the world a bit, lights me up, brings me joy, and also allows me to build assets and really position ourselves so we don't have to worry about money again. And that's basically been the mission for the last 15 years for me. So and my wife, we both share the same mission. Thankfully. Yeah, we...
Kimberly Spencer (21:23)
love that you've built it with your wife.
Lloyd Ross (21:26)
You don't ever anticipate doing, you know, building a business with your spouse or like, that's not why you get together. But it just so happened for me that it worked out great. Because when we first started in network marketing, we've built that entire business together, like, by all accounts to we've built Alicia's involved in the others as well. It all like she were were ingrained in all of them. But we really built that network marketing like to
Kimberly Spencer (21:46)
Mm-hmm.
Lloyd Ross (21:54)
from the very beginning to all the way as we do now, we run it together too. She does a lot of work in that and, that was a great training ground for our marriage in a business at the same time. And you just find where it took to, it takes a few little, disagreements in the first place, like, are you like me? You know, and you realize that people don't have the same personality type. They're not the same strengths. So part of that, that journey was to figure out what
I should be strategically incompetent at and accepting that I'm strategically incompetent in that area and just letting it go. And same with Alicia. So for example, she doesn't like to speak on stage or do the training as much as what I do. She can still do it. Like she's amazing. Like she speaks, she's incredibly powerful speaker and train everything, but it doesn't light her up.
She's like, oh, and so I love that. It's easy for me to do that. It lights me up. I'm good. I can be there. But what she's great at is she's great at, um, you know, doing a lot of the organizing in the backend. does a lot of the presentation. She does a lot of the managing of the challenges she does. Like the reporting, like she's just so good. She's very conscientious. She's an ex paralegal. So she's very conscientious with the administration of things too. So she's excellent at that. And we've found over time that just
that we're not supposed to be great or love everything in our businesses. Let's find out what we're good at, what we love, and let's see if that works. And it just so happens we're super compatible in that area. We compliment each other. And that was a great discovery. And we apply that same metric to every business we touch.
Kimberly Spencer (23:33)
Yeah, that's such a gift in understanding the relationship dynamics, because some couples can work together and some cannot, because they're two. Either they're two alike or they don't have the same fit.
Lloyd Ross (23:40)
Yeah.
Yeah, they're two alike or, or they don't share the same vision to like what's great about Alicia is that from the very beginning, we would do these vision boards together. And we just were on the same part. Like, of course, who doesn't who wants to commute to work and work nine to five, like, she wasn't she's not gonna build for them not built for this, man, like, get me out. So it was the same value, we have the same values, which helps.
Kimberly Spencer (24:09)
I love it.
Now, I know that you experienced a loss as a child, that not many kids experience when your father lost a $50 million business.
Lloyd Ross (24:22)
Yeah, yeah, when I was 11.
Kimberly Spencer (24:25)
So how did that shape your paradigm of your relationship with money, how you think about money and how you value it?
Lloyd Ross (24:34)
Well, what's great is that I was able to model the behaviors of what it looked like to create success. My dad was always working away. He was in sales. He worked very hard. And my mom, you know, effectively raised us. He did too, but like she was there like as a full-time mom. And so I saw that works. Like that actually worked out really well.
Kimberly Spencer (24:49)
Yeah.
Lloyd Ross (24:55)
In the end, they separated, got divorced. But it worked well for what what success looks like to create a partnership. And I got to experience and watch his behaviors of what it took. And that was great, because I realized at an early age that, man, like, it takes a lot of hard work. Like, my dad taught me to work weekends. Like, it's a flipping combat sport. If you want to win, you have to go out with an attitude to win, win the day, win the morning, win the evening, win the week.
just get after it. And I think that helped me a lot. Now, when when I was 11, and he lost that he lost that business, it was like a top company in the state, he was 38. And it had that 30,000 insurance clients, was the largest managing insurance agency in the country at 38. And I, you know, it's amazing, really the story. And by all accounts, they got there was an unlawful termination of the contracts, they went to court was all in the papers, I was in school and
It was it was terrible. But but like seeing him lose it all. ⁓ go bankrupt. And then have four children, you know, in private like, and then go from this beautiful home to this small little hey, didn't didn't bother me. Like, I'm not a status. I could care less. I was having a ball but I was 11. I was pretty happy. But to see now looking back go through that.
and then rebuild it is like, I'd hate to start from zero right now. And bankruptcy is not zero, it's behind zero. And I hate to do and I hate to do it with four young children. And so I just think it's unbelievable that someone can come back from like, I know he my dad says to me, well, I had no choice. You got to get up and go to work. But I think that there's so much inspiration I can draw from that. So I
Kimberly Spencer (26:24)
Yeah.
Lloyd Ross (26:42)
I never, yeah, I knew that money at that time, you know, I remember he took me into the lounge room when he lost everything and said to me, we've lost everything. And I just bawled my eyes out because it was obviously visibly upset himself. And you don't ever see your dad like lose everything. So, but I never really attached sadness to money. just, it's not, it's never money's fault. Like I never ever have blamed money for anything. If I've just seen it as an absolute tool for choice in life. I've, I've seen it as the ultimate choice.
choice maker. I've never seen anything differently to that. And if I never had it, it wasn't money's fault. was my fault. And I think I just saw it's always extreme ownership. And I think I'll probably learn it from my parents. They never blamed or complained or justified. Never. I've never even heard them complain, blame or justify in my whole life. So they never ever slipped into victimhood, even at the worst possible times where they could. We never heard them say anything that would dictate that it was anyone else's fault, but their own. And so they just had extreme ownership.
And I guess I picked that up and learned that that would be the better approach for.
Kimberly Spencer (27:45)
That is such
a gift to be able to learn that at such a young age of extreme ownership.
Lloyd Ross (27:53)
Yeah, I don't even know. It just, I think it was like, well, I looked at people that were in Victor, but it just didn't seem effective. Well, that doesn't seem effective. I'm just gonna not do that. I think it's more about that. I don't think I ever really discovered this, you know, magic, extreme ownership principle. But it just didn't. I like to move through life and find effective things that I think I like to pick up and ineffective things and by all accounts to my parents, both of them.
Kimberly Spencer (28:00)
It's not!
Mm-hmm.
Lloyd Ross (28:19)
they've done effective things with money and both done ineffective things with money. And that will be the first to say it, but I've taken the best from both. And I've tried to implement the best I can, the best principles from both. And I think that's what's helped me to not just chase success and money, but chase purpose and time and family as well. Like I've, I have, I have had it. I've had it all. Like I have everything. I have both time, family time.
I've traveled the world. We've got money. We have no debt. We have investment. I have, you can do it all.
I haven't put money on a pedestal to be the be all and end all because I've left a lot of money on the table because I haven't put it as the most important thing in my life.
Kimberly Spencer (29:04)
What would you say is your favorite
failure in your quest to become time rich?
Lloyd Ross (29:08)
Well, thankfully, I've not had any catastrophic failures yet. So I've been very cautious about, you know, thoughtful and, you know, I'm lucky as well. I have been lucky. So I think I could say that my mistake I made was not sticking with an index fund strategy and now investing from the start, it's probably cost me about a million bucks.
Kimberly Spencer (29:12)
Yeah.
Lloyd Ross (29:32)
in lost opportunity. think also
It's hard to say, it? Because I don't really have...
If I change the past, perhaps I don't have the life that I have now, which I love. it's hard for me to say what I've really made, but I couldn't tell you any catastrophic errors. I haven't really had them.
Kimberly Spencer (29:47)
Yeah.
the hardest lesson that you had to learn.
Lloyd Ross (29:53)
Well...
I was in high school and I got indoctrinated into university. And when you're in university, get indoctrinated into nine to five, I became a lawyer and I was indoctrinated into nine to five and I was working for a developer in Abu Dhabi in nine to five work. And so the lesson I learned was I had to unlearn the things that I'd learned. And it was like, how am going to get out of this? Like success is hard no matter what path you take. It's challenging. It's supposed to be, but
to exit that career and then go into entrepreneurship is I think a lot harder than just starting out entrepreneurial. Like I should have just come out of school and started a business. But it just wasn't the, the world wasn't like it is now. It was you either go to university or go to trade. And so I went to university. And so I guess the lesson was to unlearn nine to five life. And even in my business with my dad, the hard lesson was
Kimberly Spencer (30:29)
Yeah.
Lloyd Ross (30:48)
like I had to go out on my own at some point. And to transition and do that, I had an uncomfortable conversation with him. I had to walk away from my academic life of my CFA charter that I was studying for. And I had to kind of like detach myself from those things and move into my own realm. So I think that was that was a very important lesson. And I think the lesson of like traditional education is terrible.
Kimberly Spencer (31:13)
yeah. We homeschool so there's
Lloyd Ross (31:15)
very. Yeah, it's
just terrible. It it's very impractical. It's theoretical based. It doesn't really help you get employment. It certainly doesn't help you have skills to make money. Nothing. It just is very archaic, old fashioned. And yeah, it's very, very due for disruption, which is happening now.
Kimberly Spencer (31:35)
It's very much, I think COVID was the big disruptor with education when people, everything went online. Yeah, it was a mass adoption.
Lloyd Ross (31:42)
When everything went online, right? adopt. Yeah.
Well, I think AI is the ultimate disruptor. Like, like, like I don't see a world where universities survive in their current form with physical buildings and so forth. It possibly might in the sense of the network. I think that's important. So people connecting is important, but the way the lessons are taught and how that's done and so forth is it's less effective.
Kimberly Spencer (31:49)
⁓ for sure.
Lloyd Ross (32:11)
but people are actually just doing it to get the accreditation. So it's more, I wouldn't call it education, I'd call it accreditation. That's what it really is, because it's certainly not education.
Kimberly Spencer (32:21)
Yeah, yeah, I dropped out of college two weeks before I was supposed to start, so, and just.
Lloyd Ross (32:27)
There you go. that
was smart. I wish I had have done the same, but anyway.
Kimberly Spencer (32:31)
Yeah, it's, and
I have to give credit to my parents for being entrepreneurs and the first generation entrepreneurs who were like, you're going to succeed. You have the hustle.
Lloyd Ross (32:39)
Yeah, well,
my grandparents were all entrepreneurs, my parents are both entrepreneurs. No one in our family went to university. I don't know why I ended up there. But I think what happened was, you know, like, again, the kids at school were all going to uni and our parents had never been. They both dropped out in grade 10. That's what they did back then and got a job. And they just thought that the university was the be all and end all. And it turned out that that was absolutely not absolutely wrong because it opened up doors. But like
Kimberly Spencer (32:46)
Yeah.
Lloyd Ross (33:09)
think about this sometimes I think, God, if I just finished school at 17 instead of buying a degree, my dad helped me start my first laundromat, I'd be flipping so rich. I'd be like 50 million 100 like I would I would just be so much further along. A friend of mine he knew he wanted to be an entrepreneur at in grade 10. I interviewed him on my podcast he exited his business for 600 million. He started Culture Kings. Yeah, and he just knew so
Kimberly Spencer (33:33)
for him.
Lloyd Ross (33:37)
I knew too in my heart, I just had no ability to influence the environment around me to change the path. I just got sucked up in it.
Kimberly Spencer (33:44)
that really is a testament to the power of the environment that you surround yourself with. And that's why I love your podcast and going onto the People's Podcast, because what that does is it surrounds, it allows the audience to expose themselves to a new environment of a new way of thinking, because there is a cost of innovation. And where do you see...
Lloyd Ross (34:01)
Yeah.
Kimberly Spencer (34:07)
becoming time rich. Do you see time in the future with the prevalence of AI? A lot of people are going to have a lot more time on their hands because there's going to be a lot fewer jobs.
Lloyd Ross (34:18)
Um, that they said that they said that many years ago, they said, they said that all, you know, in the year 2025, you know, we're probably going to be working one day a week. And it just hasn't happened because we're where we what happens is it's like an athlete that, um, there's a saying in athletics. It's something like, it doesn't get easier. You just get faster. And so I think what happens to us in our work life is.
Kimberly Spencer (34:21)
In a way.
Ha
Hmm.
Lloyd Ross (34:46)
we don't work less, we just achieve more with the time we put into it. So AI is enhancing the speed of productivity, but it is not changing currently the overall time we're committing to work. It just allows you to achieve 10 times more in that timeframe. So I would say our productivity without question is going to increase massively. Whether that translates to free time is to be seen.
because we're not good at that. We are built to effectively work. We're kind of like ants. Like our place in the universe is to work and be purposeful and be productive. Well, that's how we are. That's why we get so much joy from work. That's why you see a lot of people retire and flip and just lose themselves. So I would say that we'll have more flexibility. We choose to work on the projects we want to work on. So we'll have more choice. We'll probably find more purpose in that choice.
⁓ But many of the people in the world will just completely tap out of the labor market and they will find no purpose and they will have some very challenging mindset things to go through. But I've seen this before when people retire, they do also find themselves busy in retirement. My mom was my mom was like, said she's been retired for a couple years. I said, Hey, got much because I'm busy. I got here. You know, and, and so you choose
⁓ to your level of busyness, I think. it's, and so,
To summarize, think it's gonna be like more productivity, so more ROI for our effort, more choice, less labor intensive style work and more strategic thinking, and more connective type work than, you know, heavy duty content stuff. So the style of work will change, what we work on will change, our level of productivity will change, but I do promise you this, the same...
obstacles that come up with your time, where you're taking on too much, you don't have a definite chief aim, you're not engaging leverage and partnerships and people and systems to do the work for you. And, you know, you're not prioritizing work correctly, that will always follow people around. That's why when I wrote the book, I wrote it for those four principles, because it doesn't matter how things evolve technologically, I promise that people are still going to be making those errors as they go along. So
you, whether AI or whatever else will change things is irrelevant, you must change it. So if you want to win back your time, you must deploy these principles today, forever. So I think that's what will continue.
Kimberly Spencer (37:17)
Yeah, people are always gonna people.
Lloyd Ross (37:21)
always
gonna people they're always going to take on more than they should. They'll always say yes to things they shouldn't though. they'll always be reactive and not proactive though. You know, we slide down this scale of wealth and busyness we keep sliding up and down and the idea is to catch yourself sliding back down. And, you know, really intentionally move yourself back up.
Kimberly Spencer (37:41)
How do you discern your yes?
Lloyd Ross (37:43)
Well, there's a quick way to do it in your heart. If it's not a hell yes, then it's a no. You know, really like, like someone will say something and it's like, it's not a hell yes, it's a no. But we do, we do carry a lot of social debt in our lives. And the thing with relationship building is that you've got to repay the social debt, because there has to be a level of reciprocity in relationships. So for example, some friends of ours, they want to go on a
Kimberly Spencer (37:58)
Okay.
Lloyd Ross (38:11)
a heli skiing trip in New Zealand, which is completely not what we want to do. But they're such good friends. And even fact one's a business partner, and went into a family. So we treasure the relationship so much that we will say yes to things like that sometimes that we don't really want to do because the relationship is more important than the, you know, the feeling of like, don't want to do that. So we do it for those reasons. So I would say that
Yeah, if there's no important relationship involved, and it's not a hell yes, then it's a no and just say it. No, it's not me. No, thanks. But it's a feeling you get and, we don't have the courage to be disliked and we don't want to be disappoint anyone. And so we say yes to things for that reason. And we start people pleasing. And it does rob our time. We end up doing things we don't want to do. So what I find funny now is that when there's a musical or
something that comes up, my wife absolutely just taps me out of that. So she doesn't even ask me. And there's certain things that I do, I'd kill me. And I can't bear it. And so there's things that I do too that I don't even ask her. You know, I just wouldn't. And because I know that's a hell no. And so just...
Kimberly Spencer (39:05)
You don't like musicals?
my gosh.
Lloyd Ross (39:24)
Saying yes to the things that are super effective for you, it doesn't destroy relationships, is the way to do it.
Kimberly Spencer (39:30)
Would you say that
relationships are the most powerful form of currency?
Lloyd Ross (39:35)
No question. No, because the world's about people without people you just it's meaningless. And people will put you into so many different opportunities, they'll add value to your life in immeasurable ways. So whether it's for a reason, a season or a lifetime, the people connection part. I mean, the old saying network determines net worth, it's, it's the most important thing because you can't do success by yourself.
Kimberly Spencer (40:02)
Mm-hmm.
Lloyd Ross (40:02)
You
just can't. mean, what that does look like success by yourself looks like nine to five, capped income, no time, no scalability, you know, no richness, like that that's what doing it by yourself looks doing it by yourself is nine to five employment, that's doing it by yourself because you are doing 100 % of the effort. Right? And whereas in business and scaling wealth, and when your time back is where you relinquish that belief.
Kimberly Spencer (40:23)
Yep.
Lloyd Ross (40:29)
and realize that other people must succeed with you. you like John D Rockefeller said it best. He built Standard Oil like the biggest, biggest company in the world and became the richest man in history just about. And he didn't work that much. What I read, I just finished his book and profound how he had time for his children. He gardened, he loved to be at home and he built this incredible massive company. And so
he did that because he had this saying I much prefer to get other people to do something like, I much prefer to do 1 % of the effort and get 100 % of the outcome. So like having leverage, having other people do the work. And he often said that the busy person has no time to make money.
Kimberly Spencer (41:15)
I think that that is such a testament because there's our audience. have a lot of women in the audience. And I was just on a ⁓ conversation with a group that I've been a part of for six, seven and eight figure business women and about how study shows that women will typically overwork, do the extra credit, go that at next level. And meanwhile, there's entrepreneurs like my eight year old son who are like, how can I hack this?
How can I, and men will apply for a job that is, they're 60 % qualified for, women won't even apply for it if they're 80 % qualified. And so there's this disparity and maybe it's societal, maybe it's generational, but when in your practice, in all of your businesses with how you train and coach and lead, what...
Lloyd Ross (41:49)
you
Kimberly Spencer (42:04)
What is the number one belief system that you see that people have to overcome in order to have to really make that leap into wealth?
Lloyd Ross (42:11)
they've got to find the who, not the how. That's critical. The question people ask is, well, how am going to do this? How am going to do this? How? And they start to tinker. And even with the job applications, like what you just said, is they go, how am I, if I apply for this job, how am going to do it? And it's just the wrong question. It's always who. It's always who. Like, we in our...
Kimberly Spencer (42:12)
you
you
Lloyd Ross (42:33)
business, we have this objective to be better at appointment setting and just in talking in our ⁓ off my Instagram account. Because I'm, we have some some, a really, we have a solid system with it now, but it's not interactive. And it could be a lot better. But didn't, you know, it's so quick to ask, or how am going to do this? How am I going to do this? But because I've learned who and we've got business partners, one of my partners said, actually, I know the person.
who work with this particular big influencer in their AI setup for their Instagram account. And he's now a freelancer. He's out of there. And he's got the system. You want a meeting? I was like, yes. So three days ago, I got on a call in a meeting and he said, oh, I've got it all. said, you're in. What are the terms of the agreement? What's the terms of the partnership? What do you want? And he told me, so that'll work fine. When can we start? And bang. So now he is handling that whole setup. He'll run it. He'll...
And I don't have to, I don't have to develop him, train him, you know, grow him. He's been grown already by someone else. I just grabbed him and put him in there. So, so I would say the paradigm shift that has to happen is that, that you have to do it all yourself is incorrect. It's, it's the ultimate sabotage. It's not going to work out like that. It, and the reason why you're running all around all the time and busy, busy is because you haven't worked this out yet that you're, you're not supposed to do everything. So.
The who, not the how ask who not how is so much more important. And I struggled with that for a long time because when you're recruiting for a position and paying someone away, it's a lot more difficult because you've got to train them. But what I learned too, was that the right person that comes on, they don't need much training. They don't need any micro management and they just get on with things. So the best thing you can learn when you bring on a
partner or a person or resource or a VA or whatever, is if they're not a superstar to start with, they're never going to be one.
Kimberly Spencer (44:29)
⁓ Preach Lloyd, that is 100 % true. And also that superstar will tend to scare away, may run away if they see that they are only performing with other BNC players.
Lloyd Ross (44:44)
Yes. Well, that's why you have to pay them well. So you know, like people say to me, like when I first was scaling education business, some of my friends said, how what you're paying people that I was like, yes. Because if I don't, I want to get to keep them. I want to keep them. They're high performance. And if I don't, we didn't have audacious goals like x y z per month. And fun goes like I'm sharing this fun goal, we're go on a yacht together. As a team, once we hit this goal, we're gonna pay for everyone to go on this yacht.
Kimberly Spencer (44:46)
Mm-hmm
Lloyd Ross (45:12)
And if you don't have those cool, fun visions and you don't have these big goals and you don't pay people well, then you're going to attract BNC players and it just makes your life hard. So I'm, I definitely prefer to pay more. that doesn't mean go crazy. It just means, you know, remunerate the kick-ass A players. And they just do so much with the work. Like I really don't work that like even in all of our business, we have A players.
Kimberly Spencer (45:37)
Yeah
Lloyd Ross (45:39)
and what's interesting is the B players do find their way out. Eventually, if the culture is an A player culture, the B players don't fit in. They know it, they leave and it's done. So set the standard, but by all accounts, it sounds like you're, lot of your listeners would be A players. The challenge is an A player entrepreneur is if you're an A player entrepreneur, you think you're the best. You think no one else can do it. You, you just want to do everything. You just have this control and that is the biggest challenge.
Kimberly Spencer (46:06)
Yeah, it requires a lot of humility, I would say, to be the one who says, I actually am not the best at all the things business. Here's my lane and this is what I'm going to stick in and the other 25 hats that you have to wear or not wear you shine.
Lloyd Ross (46:13)
Yep. Yep. Yep.
Yes, correct. And you have to get used to working less and making more money.
Kimberly Spencer (46:27)
How did you get used to that?
Lloyd Ross (46:30)
Well...
Well this is-
got a friend, his daughter, we're at church one day. And she said, there's this verse in the Bible. And it says, you know, basically, along the lines of, don't have to toil to create wealth. Wealth doesn't come through toil. And that that challenged my paradigm so quickly. Like, I was like, What do mean, there's no toil? I got worked hard and blah, blah, blah, blah, blah. You don't toil to create wealth. What do you do? And
Kimberly Spencer (46:46)
Mm-hmm.
Lloyd Ross (47:00)
The answer is you find others to do the toiling. And for them, it's not toiling, it's their genius. And that's how you do it. So you actually, it's true. And I think you just have to realize that.
that
Money will be developed through people, systems and capital leverage and it doesn't require any of your physical effort. That's the greatest shift you can make in scaling wealth and having success in business is that the toil is not how you get rich. again, not that your listeners wouldn't perhaps go out and grab the book called Titan.
John D Rockefeller story, but there's so many principles in that that resonate with like he was the founding
OG of scaling money and business and not toiling like he's the man. so everyone else that's gone after him, like even Warren Buffett, I look at some of the things John D Rockefeller did. And Warren has just absolutely stolen that from John D Rockefeller, that style, that life setup. And I thought Warren Buffett coined it all. And I thought he was the guy that really, but it wasn't, it was John D. And
Kimberly Spencer (47:47)
Yeah.
Lloyd Ross (48:14)
So and also a very pious guy and people don't know this about him. They always think he's a big baddie, but he's not. He went to church. He stayed with his wife, his life. He raised great children. He was there for them. He built great business. know, some of the business principles he had were, you know, I would say controversial for sure. But as a person, he was probably one of the most well put together people ever.
Kimberly Spencer (48:38)
Yeah.
Lloyd Ross (48:38)
So
I think these things are so interesting to find out. And so I think one of the things you can do to really craft your own style and what you want in life is to read biographies like that. Because one of my brother in law said to me, we were scaling education business and we were getting like 300 purchases a month and 600 leads and it was just gone. The marketing just exploded.
And I was in this position where I'm like, should I outsource? Should I delegate the sales? Like, that was this moment. And we had breakfast together and he said, Lloyd, you aren't the first person to do this. I was like, that's such a good line. I always remember. was like, that was really good line. And I was like, you're right. Like this has been done before. What am I doing? And I just went out and I said, yeah, put this like this, these business principles across the board have been done.
It's just that you're not seeking someone who's better than you to show you to put them in place. So you're, you're still trying to work it out yourself, but John D Rockefeller figured it out in the 1800s. He's got this great line in the book where in his office, he said, you know, we have this culture in office where, where that not where one person cannot just know everything you have to always teach. So when you learn something in the office, you teach someone else. So they had this really good culture of
Kimberly Spencer (49:52)
Mm-hmm.
Lloyd Ross (49:56)
delegation and systemization and that once you learn to roll, you teach the roll and get out of it as fast as you can.
Kimberly Spencer (50:05)
That's funny,
I just read that in Mike Malkowitz's book, Clockwork. And same thing, as soon as you master that role, then have that person teach it and do the training. borrowed it from John D.
Lloyd Ross (50:08)
I think.
There you go. So John D. Rockseller, that's great.
John D. D. Crafted it all. So if you want to know the OG of business, it's him. And so why not just read his book? And there's a great book that I've been told to read now that I've read his biography. So I'd like to start with the biography first. I think if school taught like, you know, if they taught how Newton developed, why Newton developed calculus, if we knew the story, it would make the education so much better.
Kimberly Spencer (50:31)
Mm-hmm.
Lloyd Ross (50:43)
So if you want to learn principles, learn the biography of the person that Connor probably created them and then read the principles. like read Titan. If you want to learn about John D Rockefeller's life. Now I'm going to go and read the Rockefeller habits, which is the principles of how he built the things, but I'll find it a lot more joyful because I know about the man.
Kimberly Spencer (50:55)
Mm-hmm.
You gotta have the story.
Lloyd Ross (51:01)
So
you gotta have the story, otherwise it's like, how did this come about?
Kimberly Spencer (51:08)
And it's so easy for people to project their own perceptions of, he must have had it easy, or, he was born into this, or,
Lloyd Ross (51:13)
⁓ yeah, like, yeah.
well, it's what fascinating is once I read the book, I brought up, so I got a mentorship program. ⁓ and one of my students, like I brought up Johnny Rockefeller and she, and I said how amazing he was and, and she hadn't read the book, but of course she comes out and says, yeah, but he created the, pharmaceutical industry and, the schooling and, and he read the book and he didn't.
He was the greatest philanthropist and he gave the most and they created the most incredible medical breakthroughs. They did. He had no control over where the medicine would go with government. Like he had no control over that. That's how it eventuated. He didn't know. He went with great intention and he did amazing things. But she came forward and went, no, he didn't. So she's just regurgitating what society's told her to tell about John D. Rockefeller, but it's absolutely not true.
So I like to go to the core. And I just said to her, read the She went, she went, okay. So, you know, you go to the source, don't always believe what you hear through people because it's been distorted for history.
Kimberly Spencer (52:21)
think one of the things I admire so much about you, Lloyd, is that you are such a student, but you are a student and a plier. A lot of people get stuck in the learning loop of, me just learn more, let me just consume more, let me just read another book, take another course, do another thing, thinking that that's doing, but it's not actually taking those actions. So if you were to give three clear cut, take this, this, and this step to become time rich right now in this next week.
to liberate yourself a bit, just a bit. What would that be?
Lloyd Ross (52:54)
Yeah.
Well, it's really interesting. You bring that point up. It's very observant of you to bring that up because it's so true. One of my mentors once said to me, Lloyd, learning is like taking a left step and doing is like taking a right step. And he said, most people are just taking left step, left step, left step. And that's why they go around in circles. And it feels like work, but it's fake work. Learning is important. Like sharpening the axe is important.
learning is like sharpening the axe, but you got to swing it. So point just sitting there sharpening the axe all day long and not cutting the tree down. You know, so you got to blunt and again and do it again. So it goes hand in hand. So when you take a left step, you learn when you take action, you take a right step, you walk forward. So that's how it works. You learn take action. So to answer your question, the reason why in this my new book become time rich, the reason why the end of every chapter, I have specific actionable exercises and at the back of the book,
I have a very clear list of of what to go do now. This is a long list. Here it is here, like at the end, it's got little check boxes next to it. So I would say, the reason I have that in there because I know people are addicted to learning. They're learning addicts and all they want to do is go, I finished the book. Yes. And I'm like, I don't want that for you. I want you to learn from the book and action it by. So I would say if you want to better your time, read the book and go to the back and tick off.
Kimberly Spencer (53:59)
Mm-hmm
Lloyd Ross (54:20)
every single one of those activities. And if you do that, I would, without a doubt, I promise you'll find you'll run your time back and you'll be better without a doubt. So that's
Kimberly Spencer (54:31)
Amazing.
I love the fact that you included the list on the back and then the actionable bite size, here's what you learned, go do it now. And like just take $10 and open an investment account.
Lloyd Ross (54:39)
Hmm. Yes.
Yes.
Yes. I've read books, Kimberly, where, like I read a book once called Never Split the Difference by Chris Boss. Great book. And what is great about it is there's this incredibly powerful language.
pattern or conversational framework called labeling and mirroring. And it's where Chris Voss teaches you how to build instant rapport without having to go and ask them about where they live or build common ground. It's so powerful. It's potent. So when I read the book, I saw how potent it would be if I learned if I applied it. Now what's cool about it is so simple to apply. Literally, it's like three words and three other words.
every time. It's just it's the most craziest, simplest thing ever. So when I read it in the book, I put the book down, we come back from a flight, we went back into the airport, we're waiting for our bags to come out on the carousel. And I just put the book away. And I, when my wife came up to talk to me, I applied it to her instantly. And I just applied it and I started applying it other places too, as fast as I could. And you know what, I've never finished the book. I've never finished the Chris Boss book. Because what I took away from that
is that language pattern that I now use every day. And it's so valuable that I don't need to read the, I'm sure there's some other great things in it, but one thing I took away is I just took away that. So I would say that...
just take away one thing from whatever it is you read and most importantly apply it but also master it. Apply it over and over and over again, right? So like some people give me feedback with the book lately and they're like leaving reviews and it's been great. a lot of them have said, you know, what's your favorite chapter? And they said, you know what? The elimination chapter for me is so powerful. And so they're now actually applying it like.
Someone reached out to me said, Lloyd, I've dropped this and I feel so empowered. So if you get one thing from it that you can apply, just do it. Apply it. Much more important.
Kimberly Spencer (56:47)
Yeah, I applied
this immediately and hired a mother's helper. That was my application.
Lloyd Ross (56:53)
Well done.
Far out. That's great. There you go. Perfect. Great.
Kimberly Spencer (56:56)
Yeah. Yeah. Cause I was like at those little projects
around the house, they were just driving me crazy. didn't want to take the time to do them hired somebody to come in once a week and take care of it. Like I cried when she was like, I'm going to take the car seats out and vacuum them. was like, my God, this is amazing. Because that was, that was her skillset. She was so hiring for that and free. It was liberating. So thank you.
Lloyd Ross (57:01)
Yeah ⁓
That's good.
Yeah.
Well, you know, it's like,
you're welcome. Well done for applying. mean, people wouldn't do they'll think about it, not do it. But, you know, it's interesting, we don't want to delegate because we feel like we're enslaving people, we don't want to burden them with work, our work, but you prevent them from scaling up. And in the book, I talk about your delegation is their personal development. So like, she wants to work, she has a skill set, she wants to apply to make money. If you don't delegate, you're preventing her from leveling up and scaling up and making money.
Kimberly Spencer (57:38)
Mm-hmm.
Yeah, I got to be her first client. She'd never like, this was her first business. I was like, it was amazing. So, and that's my takeaway of putting this into direct action. And I love what you said about the book that you read and how you put it in immediate action, which really follows Tim Ferriss's four hour work week of the art of incompletion. ⁓ And you don't have to complete something to put it into action and to...
Lloyd Ross (57:53)
Wow. There you go. That's great. What a great example.
Yes, that's good.
Kimberly Spencer (58:15)
to weaponize it and make it amazing. So Lloyd, I have loved our conversation and I love the work that you're doing in the world. I would love to shift into a little bit of rapid fire to wrap this up. Who is your favorite character in a book or a movie and why?
Lloyd Ross (58:17)
That's right. Yes.
I love repertoire.
⁓ my goodness, favorite fictional character.
I like Iron Man. Who's the superhero I'm going for? Yeah, I like Iron Man. I like Indiana Jones too. Yeah.
Kimberly Spencer (58:41)
Yeah, I can see that. What person alive
or alive and in their time would you want to trade places with just for a day? Like to be in their body to experience how they experience the world.
Lloyd Ross (58:52)
Well, God, it would be interesting to have been Warren Buffett born in the 30s and come out through that golden era. Would have been interesting to be, even John D. Rockefeller and come up through the Gilded Age. I think those are interesting times and why not be in the Western days and experience that. That would be interesting. Yeah.
Kimberly Spencer (59:10)
Yeah.
What is your daily or weekly money routine?
Lloyd Ross (59:14)
I have a monthly routine where I look at our accounts and I do our auditing of our accounts and businesses. So I think it's a monthly routine. It's, is more money coming in and going out is all I really care about. And if it's not the case, I have to shift things and cut costs. Like this is the most important thing.
Kimberly Spencer (59:25)
Yeah.
Yeah, cash flow and profit. What do you define to be your kingdom?
Lloyd Ross (59:32)
Yep. Yep.
a little family. A little fam-
Kimberly Spencer (59:37)
What
is the one principle that you want the next generation to take with them that you think...
Lloyd Ross (59:45)
Well, I think it's
that, yeah, the time is more valuable than money and you can have both time and money at the same time.
Kimberly Spencer (59:51)
And lastly, how do you crown yourself?
Lloyd Ross (59:54)
How do I crown myself?
How do I crown myself? I crown myself by giving far more value than I take.
Kimberly Spencer (1:00:02)
Amazing. Lloyd, how can we find you? I know we can go to all the places to get Become Time Rich because you can grab it on Amazon and we will leave the links below. But how can we find you? How can we work with you? What is the best platform to connect with you on?
Lloyd Ross (1:00:19)
Well, I think it's really cool that I get to say this, but in North America, I think we're in chapters bookstores in this book. So you can walk into the bookstore, hopefully you'll find it. ⁓ Yeah, so because we have a North American publisher with Wiley. But the best place to find me Yeah, you can go to my Instagram account. It's Lloyd James Ross. You can catch me there. In fact, I'm really excited about our YouTube channel. That's just scaling at the minute. So you can find me on YouTube. Same thing, Lloyd James Ross, some fun episodes there.
Kimberly Spencer (1:00:26)
Amazing!
Lloyd Ross (1:00:45)
And you can jump into the money grows on trees podcast on Spotify, money grows on trees. It's pretty easy to find. And there's like 300 and something episodes to sink your teeth into. So they're the best place to find me. I've got free content across those three platforms and that's the best way to engage.
Kimberly Spencer (1:01:00)
Amazing. Lloyd, thank you so much for your time with us on the Crown Yourself podcast. As always, my fellow sovereigns, own your throne, mind your business, because your reign is now.
