01:08 Hey, welcome back to the show. I am so excited today to have Curtis May because he's the kind of guy you always need to have in your back pocket. Curtis, I want them to know why. Who are you and what kind of problems do you solve with your business?

01:22 Well, thanks Todd for having me. So what I'm known for, I guess, is helping families and businesses manage their money so they can feel safe and free at the same time. Okay. And so, so I focus on four major areas. I figured out where you are right now. So what is your present position? Everybody's got a, it's like a financial GPS. Here's where you want to go, but you got to know where you are now. Okay. then

01:34 What does that mean?

01:35 I want to understand what you have, what you like and don't like about it. Cause a lot of times people have a bunch of stuff, but if the objective is to become, which my objective is to help our clients become and remain financially free, right? Which is passive income greater than expenses. So a lot of people are shocked to realize that typical financial advice is not designed to do that for them. It's designed for assets under management to line Wall Street's pockets, but it's not designed to generate cashflow for you. So, and then, you know, so I want to make sure that money flows well, right. For saving and growing. one of the areas that we talk about is really cashflow control is where I start with people. Right. And so it's really four things, cashflow control. Then I want you, once we control your cashflow, I want you saving 15, 20 % or more of your gross income. Gross, right? Saving safe liquid accessible guaranteed. want you to have my third pillar is like maximum protection. That's defense, that's insurances, that's asset protection. And it's like, it's like Game of Thrones. You got to build a moat around the cast because people are trying to get in and take your goal, right? You have to build it, you have to play defense, right? I'm the defensive coordinator. I'll talk to people who would invest in, right? And then, you know, I want to make sure you're protected no matter what happens and helping your money grow over time. you know, I help people. I'm the keep it guys. There's three skills of money, make it keep it, grow it. I'm the keep it guy and the grow a guy. Okay. And then we just, you know, we check in with people to make sure, cause a plane is off course 90 % of time. So we check in with people quarterly to make sure that they're staying on track with whatever the goals they told me they want. If you're in my accountability program, you just give me permission to kick your butt every 90 days and make sure you're on track.

03:43 I love this because you know, most of the listeners of this podcast are people that own a business. They're growing a business and to your point, make it, keep it, grow it. I love that. You're the keep it, grow it. The listeners of this podcast are hopefully making it and that's the focus here is that they're making it. Now how do I keep it and grow it? And while you're talking about personal finance as well as kind of like helping them leverage their personal finances into more growth into their business, which I think is awesome. Talk to us about what's important in your client avatar. Like what do they got to be doing in order for you to feel like you can help them build a program that has those defenses, that has a growth strategy? How are you doing that? And how do you qualify your client avatar?

04:37 So I need them to be, well, to have income. can't steer a parked car. 

04:39 Amen.

04:40 but the, you know, I need them to be coachable. Like I don't do assets under management, so I don't need them to have a quarter million dollars of investable assets and blah, blah, blah. Like, you know, and so the people that meet that find me one, they, they're, they're looking for work optional income. Right, so they're tired of the Wall Street roller coaster and not having control, right? And so when they find me, they often have these problems. They're not fully protected across the board. So we look at all their protection. They don't have a plan for what happens to their money after they're gone. So have no estate or legacy plan, okay? Their money, 

05:19 I would say that's most people.

05:20 Yeah, yeah. And so their money isn't flowing well. So they don't have extra money besides what they earn because of an inefficient cash flow structures. That's the first thing that we talk about and they have no income from any outside their main source of income. So they have like one income stream and you know what you want to do is you want to save money. You want to buy or build cash flow assets because if you're in business, I want you to be everybody's looking for this big exit. I want you to become independent independent of the business through your real estate or whatever the other asset classes that you like. You should take your money. And maybe it's by, it's the buy one apartment building a year for the next 10 years, know, something like you need to have a, because the purpose of business is to make money. And then what do you do with the money so that you can live the life you've already dreamed? It's not the goal is not to be in business being the business of painting, but okay. Your goal is to become a sovereign individual to be able to do what you want when you want to do it. We call it in our system. tie, excuse the language. We call it gain to a position of FU. Right? And so, FU is passive income, twice your expenses as the starting point. So that if somebody tells you, you know, COVID, you know, government says, we're going to shut the government down, FU, I can last without changing my lifestyle for a year or two. Right? And so you have to put yourself in the FU position. And then the last thing I do, I guess, is people, I've even heard about becoming their own banker, but it needs to be done properly. And, you know, using life insurance and then what I do, they, don't know who they can trust to explain the concept and structure it properly and using the correct product. So those are the type of things that I deal with. There's all one thing and depends on, you know, cause it starts with cashflow control, but when you find me, that's what you like because you realize kind of that, okay, if you already have a business, well, your best investment is in the business. It's not sitting at some fund manager you never met. So I just, I grew up in business. I, okay, yeah, I'd rather invest in people, you know, in a assistant, in a marketing campaign, you know, in a coat is a better ROR. And so if you talk to a typical person, they don't want to hear that. There's no way for them to get paid off of that. Cause if it doesn't fall under grid or they're under the actions under management. So you just gotta, you know, you need.those people, but you've got to keep your own counsel. You're your best financial advisor. So that's, that's, that's when story time.

07:55  I love that. No, I love it. And for those listening, know, this is likely he's talking to you. And this is he's talking to me, he's talking to you because if you don't have something like this structured, which I've made an attempt to structure something like this in my 20s. And now that I'm just about 50, it's like I'm reevaluating it all. And turns out I didn't do it quite right. There's a lot of people selling you this concept that don't structure it right. And Curtis, I know that you're the type of guy that does this the right way because just in our short conversation for the show, what you were talking about and the way you were talking about it, it totally resonated with me because I just got my butt kicked by someone else saying, Todd, it wasn't structured right and we got to fix it for you. And so I challenge any of you listening, you got to be thinking, we saw what COVID did to us all. we saw those of us that are old enough remember what happened with the other financial crisis in 2008, nine. And those that were ready, it wasn't a big deal. Those that weren't, surprisingly, I was more ready in eight, nine than I was in 2020. And I got my butt kicked and it wasn't comfortable. And for you, it may not have been comfortable either. Find a Curtis May, find a way to assign someone who can help you direct you through this wealth management part because to his point, if your passive income isn't twice of what your living expenses are, knowing your burn rate, I mean, imagine if it was. How awesome is that? So Curtis, how do you...

09:26 What is your peace of mind index if it's like that? Because financial planning is not wealth management. that financial planning is five parts, helping families, average families, not rich families, spend, cash flow management, save, invest, insure, and plan for financial independence. So investing is one of five things. And so people focus on that.

10:22 Right, I love it, I love it. So take a step, 

10:23 So and they have a must -go box, too.

10:24 Yeah, yeah, no, dude, no, take a step back here, 

10:28 captainscouncil.com

12:07 A lot of our listeners are hearing you and they're saying, yeah, yeah, yeah, I need to do that, but tell us how you've been able to implement, execute this personally in a way to build and grow your business based off of this strategy, because a lot of people want to hear that somebody's going to put their actual effort into what they're preaching, right? And are you eating your dog food? Are you making this work for you? And if so, share with us how you've been able to grow your business based off of.

12:36 Yeah, you know, yeah, absolutely. Because I was stuck. mean, I was so one, my business was so, so right. So I had to learn what business I was in, which is the marketing business. Right. And then it's not what you earn is what you keep. So one of the things I had to do was I adopted a, first I read, I'll tell you, I like books. Right. So I do a little bit differently, but basically I'd read profit first. Right. So I was making money. But I wasn't keeping money. wasn't paying myself first. I wasn't set aside money for estimated taxes. Right. So what I did first thing I had to do was learn and that took me a couple of years to kind of get that together. had to focus on stabilizing my income. So I was out of scarcity. Okay. And then I, you know, I, I save. So for example, I, in my, if y 'all do profit first, what I do is I have revenue come in. I say 15 % for profit. I set aside 15 % like off the top. So money hits my account, 15% for profit into my profit account, right? So 15 % into my tax account. That's the big game changer. Like, so last time you attack the account and said, yo, $25 ,000 taxes for the last two years for the first time I had it. I wasn't stressing out. Where is this going to come from? We're profit. I have no money in my account. And, so that was huge. All right. And then I, I try to run our business on. So I had to figure out my life costs and I try to run our business on like 35, 40 % of my gross revenue. And then I run payroll and then I try to run the business on like 35%. So I really sort that out. It's like the game is won and lost at cashflow control. So now people talk about infinite banking. So what I do is that 15 % and that other 15%, 30, I flow through, I have six permanent insurance policies. And so, I create a, you know, so as I create the, structure called a wealth coordination account, and then I move money into that. And then from that into our policies, and I use the policies for major capital purchases or opportunities or coaching programs or investments down payments, that kind of stuff. So, so really it's like, you start where you are, you don't have to make a lot of money. just start where you are. So, but what I did was I grew my number one asset was my business. And then I, but I already now. I had a plan to tell my money where to go instead of asking where it went. That's where I start with people at. That's kind of what I, so your own cooking, said, where's it going? I need to tell it where to go when it hits my account. And then, you know, I'm obsessive about, okay, how much did save? What did we make? And I don't see my P&L every week, you know, because I come from retail, right? So I needed to look, got, was used to, my family was in the bar business. My dad was sick, I was running the barAnd I had to do my PNL Sunday morning before I went to church. would go in, I would look at the numbers. was like, cause I needed to know, could I get paid? Because I had payroll. I had to, you know, I had to pay my manager. You know, I had a, but I had to set aside money to buy more stock for the next week. You know, did we make any money? You know, so here's what came in here. And I just had a simple little spiral notebook in out, right? Here's what came in. Here's what went out. Like, so most people don't even do that though.

16:02 Dude, Curtis, I was just gonna say that. Most business owners I talk to, like, if they're sub $1 million, they're not even doing that most of the time. And that's why they're sub $1 million. You know what I mean? It's like, the minute you start to actually understand that there's growth blockers in your business and understanding your financials is one of them. If you're not understanding where your cash is going, and I love how you're talking about telling it where to go as opposed to asking where it went. That's like the perfect statement. I've never, I mean, it's just, it's awesome. I love the way he said that.

16:37 We have a process called cashflow mapping, right? So that's one of the first things I do. Where's your, let's separate church and state. If you're in business, all right, here's your business or businesses or your real estate. So we got to separate that. And then how much of that ends up in your personal, where you want to build wealth at, know, cause people leave it in the business, but if you got to pass through. It's all yours, right? So you don't, you leave in the business. You think you're saving money in taxes or not. You need, I would argue is risk you're leaving in a business. Cause if you get sued, all that money's in place. So you need to put it somewhere that's, you know, it's all that's whole other strategy, you know that here's the, I'll end with this point that was gives you measure gets done.

17:17 I love it. I love it. Okay, so as you've been able to grow your business, and I love, I mean, that's a very biblical thing, right? As things get measured, things get done, and we know what it means to be a good steward versus one that just kind of hides it away, right? Or in this case, lets it go without knowing, without telling you what to do. 100%.

17:40 You have parable of the talents. the Bible, don't get me started with that, but the talks about money, like a lot, you know, a lot. 

17:51 No, you can go, you can go, man. Yeah.

17:52 And so what happens is, cause I'll do, I was spoken at, you know, churches like black churches with the pastor. said, listen, have y 'all ever read a rabbi Lapkins book, you know, thou shall prosper. I says, you know, they are only using the Torah, which we would call the old Testament. And so somehow y 'all are missing all these money lessons cause y 'all broke. Okay.

18:08 There's a lot of them! Yeah.

18:09 And it is a lot of them. And Gold has mentioned like six or eight times in Genesis as a good thing, you know, and Abraham was rich. How rich? In cattle, in, in.

18:22 And why did God bless Abraham with all those riches when he left Egypt? Because he needed it to build a nation. I mean, there's things that God does, he gets very involved in our lives. And I love that you're a man that agrees with me on that because as you become a good steward of what you've been blessed with, you can then be a better steward too and teacher to those around you on how to build an environment where your family can be family and your love can be love.

18:52 And you have to teach it. Like one of the things we teach is you want to leave a legacy of wealth and wisdom. Because it says in Bible, what? My wise mother's her son's first children's children, right? So, but how do you teach that? Right?  I'm reading, I'm reading Laura Langmeier's book, How to Make Your Kids Millionaires. And I got my youngest is 13. So I'm gonna make that a case study. She's got about five friends on her block and we're gonna play cash flow. And I'm gonna develop little capitalists out of these kids, because I got to inoculate them from the Marxist school teachers and college professors. 

19:26 They're definitely not going to learn it there.

19:27 No, no, because the book, Rich Dad Poor Dad, said, would wealthy people teach their kids that the poor and middle class do not? Right? So they're going to learn at home. so, and see, the thing is, if you're listening to this, everybody is an example. You're either a good one or a bad one.

19:44 Totally, totally. 

19:48 So we have to be a good example.

19:49 Now, a lot of people are listening to this thinking, if I'd only done that in my 20s, if I'd only done that in my 30s, now I don't know what I'm doing in my 40s, is it too late for me even start something like this? Walk us through that mindset shift because I know it's not too late, and you know it's not too late, what's gotta change up here to make this actually work?

20:14 Yeah, everything. it starts with your mindset. Like, so the thing to work on is mindset. You know, I understand, you know, when I said is you, right? So it's mindset, mindset, what you think, what you would know, what you read, watch, listen to, hang around mindset. That's where you get your mindset from your philosophy. As Jim Rowe would say, most people don't have a money problem. have philosophy problem. And then it's your skillset. Right? So most people don't see money. If you, people say, need to make more money. Money is the results of creating value in the marketplace of serving people. Right. So you have to, so what people have to work on first time is production. have to be best in class at something. Okay. So you can maximize on your income. So, cause that's what you can start. See the fastest path to cash, I believe is business. Right. Not in that, you know, investing in a business, but investing in an enterprise so that you can generate new money. So you have to learn the game because it's better tax wise is better. You know, it's, it's a whole thing. so you have, so it's not too late because we were people think it's too loud. was talking to this guy the other day and he was like, don't know. He's 61. So it's too late for me. said, what do you make 147,000? Okay. But 67,000 of it was from a military two pensions he had. So I said, really. You need $6 ,600 a month. Right. So now could you buy a, a, a rental a year that netted you $400 or $500 a month for the next 10, 12 years. See, so what you got to do is shift from what I call the accumulation theory. This is why you think they're behind too late, right? 

21:55 I love that you're saying this. Yeah. Yeah. Keep going. Yeah.

21:56 Right. So the accumulation theory is buy and hold dollar cost average, get out of debt. the S and P is the center of the financial universe. You're in it for the long haul, all that stuff. So you're putting up 100 % of money, take 100 % of risk to maybe make 25, 30 % of profits. Now that's not me. Curtis has no original thoughts. That's Jack Bogle, right? And so yeah, you're not going to make it. See, if you had a, you're 40 years old and you're one to retire at 65 and you're making 120 grand a year, 100 grand a year, if you had, I asked you, if you had a $2 million, you think you'd be okay? yeah. I said, well, let's, let's look at that. The safe withdrawal rate is 4%. Right. 4 % of 2 million is 80 ,000. So I'm sorry, dude, you're short, right? Because you're, but what if you now you investing, Todd is about becoming something, not about buying something. So this is the problem because that that's transformations work. Right. And so you gotta want to be a business owner. You want to have to, you want to be a real estate investor. You just can't throw your money at Vanguard or wherever. And then hope you just hoping, that that The fun man is really smart. See, so you have no control over anything. And that's to me, that's it. That's so you got to want to be the boss. You've got, it's like, what's that? My favorite movie is one of my favorite movies is the replacements with, Tina Reeves and with Gene Hackman and, and Keenan were like, he was a quarterback. He's like, listen, I, know, he, he handed it off. says, I gave you the ball. He says, I read blitz coach. says, winners always want the ball. Right. And so then towards the end of movie, he says, well, I wanted the ball. says, winners always do. So you've got to want the ball in terms of being in control of your finances and you have to generate cashflow. so, so what I teach is the velocity method. So if you look at Mr. Wonderful, if you study money or millionaire next door, see principles, successfully clues, right? So what do they do? See, Mr. Man Babylon said, well, how do you, how, what credit do you give to your  wealth advisor, he said stock converter, but wealth advisor, it says terminology to why you're a millionaire, 11%. So there's not that, right? They built businesses, they bought real estate, they were in control of their thing, right? So you're thinking you're behind because you're out of control, you're hoping somehow the stock market is gonna take you to glory. And so you're gonna have to do the hard work of becoming to take control of your finance. that, it's not too late. Like you could do that. And I interviewed a guy, he's a big guy for your show, Bronson Hill. He's got a book called, what did he call it? It's called, I just bought it. was called, basically it was like how to get out the, how to become financially free in three years or less. But it was all on basically rejecting the, I call the accumulation theory and focuses on velocity and cashflow. Cause you can't eat equity, right? So you know what mean? You gotta, you gotta focus on cashflow. And so if you make that switch. That's what I've done. That's what we teach. So I don't do like the assets under management. So I don't sell investors because I don't think that that's how you win. So that's the thing. You got to learn how to become. So that's reading, you know, just give you all some pointers like the Rich Dad's Guide to Investing, the Lifestyle Investor. I like Laura Langmeier stuff you know, and learning how to buy assets. Income follows assets, right? So you got to buy assets that send you a check, but you have to track it. Like we have a process called personal financial snapshot. under, we track velocity, you know, every year. So it's like, all right, you, here's your assets, here's the cashflow, here's your income. And are you matching that? Because the goal is for your assets to be at least surpass your expenses or match your income. And if you're not doing that, well, what are doing? So that's a long answer, Todd. I'm sorry, but is that.

26:02 Totally, totally. I'm a huge advocate. Now, dude, I love it. And honestly, this is a different interview than most on my podcast, but I think this is super relevant because if you're a business owner and you're not thinking about these things and you're not trying to incorporate these strategies into your personal life, let alone your business, you really are setting yourself up to fail because you can only starve yourself so long. And we always, as entrepreneurs, we think, man, if I can just hit this revenue number, then I'm going to start putting some stuff away. If I can only hit this benchmark, then I'm going start putting stuff away. And that day never comes and that benchmark always moves a little higher. And so you're

26:42 Yeah, yeah. Because the business will eat up, if you're really surprised first, right? The business will eat up all the money you give it, right? 

26:46 It's like Pac-Man, dude, it's like those ghost monsters are coming in and it will just.

26:50  Yeah. So you have to make a decision,

26:52 Totally.

26:53  that I'm, so people say I can't pay myself first. Yes, you can. That's the decision.

26:58 Right, right. I'm with you, 100%.

27:00 So that, and so you got to look at the business is the engine that drive. If you don't have a job, the business is the engine that drives it, but you've got to take control of the money and you got it. What is yours? See most of the business owners tied up. They don't have a plan for financial independence. They just think I'm going to build this business and I'm make a lot of money. And yeah. Yeah.

27:20 Once it exits, yeah, once it exits, it's gonna be my big payday. The reality is most people don't even know or have an exit strategy. And so, you know, that's something we do talk about a lot on my show and on my channels is your exit strategy will help you identify that you need a personal strategy like this with Curtis and you need to have this mindset in your business that you have to pay yourself. You've got to be someone who's who's a you are the most valuable employee in the business. In almost every case, the founder needs to be taken care of. Otherwise, wife starts nagging, kids start going to college. Like you got stuff that's happening that you can't just like wish it upon them. And so. 

28:08 And you got to have a life, right? 

28:09 Right, and you got to have a life.

28:10 So you don't want to work all the time where kids don't know you, they can't stand you, you know? And so Dan Sullivan from Strategic Co says, listen, as an entrepreneur, you will not double your income until you double your time off, right? So you have to create, you know, so this is what the E -Myth is about, how to create a business that works so you don't work all the time. And so, and so you got to look at your business as the asset and you have to go to work on it. Like, you know, one of the things that helped me grow is I kind of look at our business. I'll talk a little business a little bit of, cause that's what helped me last year in like, so I'd sell insurance. Like one of the, teach infinite banking. that's your insurance, right? Well, last year with me and two VA's and a transaction coordinator, I was number 14 in the nation with, you know, all 100 % virtual business because I know what business I'm in. I'm in the marketing business, right? So I look at our business and I got sold this from Dean Jackson, right? So I look at my business in three parts, before, during, and after. When I go to events, is this a before unit idea, during unit idea? So I look at them as three businesses within a business. So my before unit is attract, capture, nurture. So how do you attract people? I like workshops and seminar stages. I was at this thing with Pete Vargas, know, winning stages, power partners or strategic alliance partners. So just came from a networking event this morning. I don't go to events looking for clients. I'm, I met a mortgage guy, right? I'm looking for, a woman who's in public relations. So I'm thinking, well, would she be a good interview for my show? You know, how could this, so I, you know, cause successfully these clues, what, you know, what problems. Are my bookkeeper, do I need a fractional CFO? Right. And so I've met people at events that I keep in my back pocket so that I don't interview them and say, look, here's a person. Here's what they do. Here's their number. Let's see if what they do fits of what you're looking for. So I use that. Then I look at, you know, referrals, obviously existing customers, most people don't manage your database. They just kind of, or if they keep a database, then they don't talk to them anymore. They don't know, they don't know if somebody dropped off and reactivating customers. So I'm a bit, so where did I learn this stuff? Planet Dan, Dan Kennedy, right? Jay Abraham, right? Old school Russell Brunson today, but the foundation of all that stuff. So if you're not like looking at that stuff, you don't know what business you're in because you have to become a marketer of the thing and not just a doer of the thing. And so that's kind of what helped drive me to be in the, you know, the top 20% of the, of, this company and I've been with them five years because while I got with them, started to learn this stuff. And then every year I got a little bit better. So as my revenue gets better, that 15%, sometimes more, because I don't, try not to, I'm not, what I'm doing is making sure that my lifestyle doesn't go up with my income. Right? So you got to create a lifestyle ceiling. That's the other thing. You don't go get a new car and you know, all that stuff. Cause you're just at a higher level of broke. We're more toys.

31:17 Totally, No, dude, I get it. That's awesome.

31:24 So anyway, that's my story, Todd. I'm sticking to it.

31:26 I love it, man. Dude, Curtis, I love this conversation and it's a great time to cut it for my listeners, because this is about their viewing lifespan here. It's about 30 minutes. But listen, 

31:41 Right, You're home now. Right.

31:42 We're on the home stretch. But I challenge everyone out there listening to this show, if you don't have one of these strategies in play, or if you want someone to take a look at it, I highly recommend you talk to Curtis and really have him take a look, see what you're up to. And I know you've got some things you want to give. We're going to put links to all that in our show notes. And so I appreciate you being here. I appreciate all the wisdom. I appreciate your get it done -ness that you've been doing as a business owner and as an operator of your team and all that kind of stuff. So thank you so much for the time. And those listening, please do check it out. And I know you've got some assessments, some kind of financial wellness things you like to throw out there.

32:26 Yeah. So in the show notes, we'll, we'll put a link to our financial scorecard, our financial IQ scorecard. if you, I I'm big on saving on liquidity, right? So if you will text, all caps be the bank, all one word, don't separate, separate separation to five, five, four, four, four. (BETHEBANK to 55444) We'll send you our free report just, think as a cover screws me duck on it. So, you know, just trying to accumulate, but you, know, you need liquidity to allow you to buy or build assets that have cash flow. So, you know, what comes first, the chicken or egg, you got to save so that you can invest. So we're talking about that. And then you'll, well, you know, follow me, follow the show, find out more about the madness that is Curtis. And then on all of our shows on LinkedIn or wherever, there's a link to my schedule, scheduler, whatever that is. And if you'd like to have a, you know, a strategy session and see how some of this stuff might work for you, we're happy to jump on and talk about what we want to talk about. Nothing for sale.

33:30 Love it. Love it. Curtis, you're the man. I appreciate it. And all of you listening, please do check it out. And I hope you continue to grow and scale your personal life along with your business. That's this is all about, growth and scaling on all aspects of your life. So thanks again, Curtis, for being here and thanks all of you for listening.