Have you considered your future wealth?

Episode Transcription

 

Den Lennie (3s):
Hey folks. It’s Den here, it’s episode 243 of the, how to scale a video business podcast. And as we edge ever closer to Christmas, this is the last shorty of 2021. We will have another episode of the main show on Thursday, and then again on the 30th. But today I wanted to just share the conversation we just had inside the VBA. As we wrap up the year, this is our last coaching call for the year, and we had an amazing chat about wealth and what that means, and how you can create more of it.

Den Lennie (47s):
But first of all, I want to talk about the idea of wealth in a more esoteric way. It’s not just about money and monetary wealth, but I see wealth as time, money, and freedom, and the money enables you to pay the team to create the freedom and the time for you to do other things like work on yourself, become a better leader, read more. And the thing that’s fairly clear in all the businesses that succeed is that they move away from being a videographer or a filmmaker to a business owner.

Den Lennie (1m 30s):
And for that part, you can still touch some of the components of filmmaking, but it actually creates a greater purpose in your business journey. And so we had a conversation around what that means because it’s very easy to get a business to a point where it’s delivering great revenue and access cash, excess profits, but it’s what you do with those profits that create passive income streams down the line for your future. And so we had a great conversation about this idea of wealth and wealth creation and, and playing a bigger game, taking businesses to the next level.

Den Lennie (2m 15s):
And the next year, this is where we’re at with the VBN or the mastermind. It’s been every three years in January since we first launched it in this form. We’ve been running masterminds for about five, six years, but the VBA, as it stands today, the group coaching program, a mastermind where we meet every week for 90 minutes. It has been running for nearly three years. And so we were talking today about this idea of wealth and how to go from, you know, in the early stages, you go from how to go from a freelancer to business owner. The next level up is going from a business owner to a business operator where you are actually building a vessel that propels you in your family forward, and you are the captain of that ship.

Den Lennie (3m 5s):
So with that, you need to have, acquiring new opportunities needs to be happening on autopilot. You need to be converting those into sales, to some degree in autopilot, and then you can be delivering the service. And those three components are, I guess, the guts, if you like, the core of your vessel, the engine or the sales, I suppose, for want of a better word. And then you’re the captain and the captain of the ship needs to be a great leader. The captain of the ship doesn’t need to go down and fix the engines or cook the dinner or she needs to create the vision for the direction, set the course, and steer the ship.

Den Lennie (3m 51s):
And in order for you to be in the best possible shape, you need to work on your performance, which means being aloud, reading up on the waterways, reading up, and not being on the outlook for icebergs. So if you’re standing on the helm of a ship, you need to set the direction for the island and avoid the obstacles along the way. And that really is your role as a business owner. And in order for you to focus on the destination, which is your wealth, you need to delegate, you need to have a team of people. You need to have leadership, and you need to have a core crew on the ship, who are your commanders. You need a commander in charge of marketing. You need a commander in charge of sales. You need a commander in charge of customer service.

Den Lennie (4m 33s):
You need a commander in charge of operations. And, with those four roles, they then coordinate all of the team underneath. And what typically happens in a video business is all of the efforts go into operations, the shooting, the production, the post-production, the delivery. And then the business owner tends to be head of marketing, head of sales, head of the customer service. And so you want to get the crew with real clarity around their roles and what’s expected of them and what their goals are, their KPIs or key performance indicators, how you measure the roles, and then you’ve got the vessel itself.

Den Lennie (5m 15s):
And for that, you need to have a clear purpose. You know, where are you headed? Where does the crew know where you’re headed? Where are you going? What is the purpose of this business? Who do you serve? Why do you serve them? Then you need to hire great people. And the culture and the purpose are what bring and attract great people to not only work with you but work for you. And for them to work effectively, they need systems. They need systems and processes that are clearly laid out and all of that will automate the profit part. And so, if you want to have freedom, and if you want to have the ability to create a vessel that provides wealth for you and your family in the future, you’ve got to start thinking of your business in those terms.

Den Lennie (6m 4s):
And, getting to a seven-figure video business is not out of the realm of the possibilities. In fact, I have a number of clients who’ve done it. And, it’s actually less complex than you might think. It will probably take longer than you realize, but I’ve seen one business recently do it in 18 months because they followed the process and what we have. I’m not embarrassed to say this. In fact, I’m positively proactively encouraging you listening to this, to come and talk to us because this is a proven system. This is a process of steps that when executed correctly make the outcome inevitable.

Den Lennie (6m 45s):
It’s like seeing we have the GPS, we have the coordinates, we know the ocean. We know how to get from here to there. Whether that’s five figures to six figures, six figures to seven figures, we’ve done it. We know how to do it. And we know the steps. And so if you’re looking for the roadmap, but also an incredible community, I can call every one of my clients, a friend, and we have an incredible culture in our community. And it’s been cultivated that hasn’t just happened. It’s been cultivated. And, the culture is something that is created by the members. And, there’s an incredible support group of very successful business owners inside the VBA.

Den Lennie (7m 29s):
And I’m thrilled that we’ve just wrapped up the year with some great success stories and some great lessons. And, I want to leave you with this. Every single person in the VBA has had a stonking year. Think about that when the rest of the world is complaining, that COVID has destroyed the business. And inside the video business accelerator, members are having their biggest December’s over their biggest years ever. They’re having record years. Why do you think that is? What do you think is they’re doing differently from perhaps what you are doing currently sitting in your business? So I want you to have a think about, where your businesses are over Christmas and are you sitting in a position where you’ve had, a rocket year and you knew exactly where you’re going next year and how you’re going to create wealth.

Den Lennie (8m 14s):
And I’ll leave that there for today. And I will see you for another episode on Thursday. Ask yourself this. Has owning your own video business, been everything you dreamed it would be when you first got started? It might be hard to admit, but think about whether you’re genuinely achieving everything you set out to when you made that decision to grab the camera and go it alone. Are you really working less? Are you really earning more? And are you really in control? Chances are you’re bloody good at what you do, but you’re having to work like a dog 70 plus hours a week, whether it’s filming, editing, marketing, or any of the other jobs that come with being the big boss of your own video company.

Den Lennie (8m 54s):
When you’re managing projects constantly searching out for new clients and worrying about cash flow, it’s easy to lose sight of the bigger picture or make real progress. Let’s face it. That stress is the last thing you need when you’re trying to run a profitable company that supports you and the people you care about. Truth is a business that provides financial professional and personal freedom really is achievable, but maybe you’ve got that nagging feeling that you’re overworked, lacking stability, and struggling to get to where you really want to be right now. It could be that you just don’t know how to make a positive change on your own. So I created the video business accelerator coaching programs to really supercharge your video business.

Den Lennie (9m 34s):
With these unique coaching programs, you’ll learn all the tools you need to get complete confidence in the success of your video business. You can take the first step on your journey to a successful business that doesn’t control your life. Let me show you how. Head over to denlennie.com and click on accelerator.