141. The Family Office: How Multi-Millionaires Think About Wealth Creation | Richard C. Wilson

The ONE Thing

NOVA Media

Business, Careers, Entrepreneurship

4.8 • 1.1K Ratings

🗓️ 28 May 2018

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

How do you think about creating wealth… or do you even think about it? In this episode, we reveal the mindset required to create a net worth of $20M, $100M, or even more. The people we are talking about today did not inherit their money – they just think differently about wealth creation. To teach us about this mindset, we are talking to Richard C. Wilson, CEO of the Family Office Club Association, the largest community in the industry with offices that manage in excess of $1 Trillion in Assets Under Management. In this episode, you will learn... [9:30] The strategic habits that can make your someday vision a reality. [13:50] How to identify what you should be focusing on learning. [23:00] What Richard’s clients focus on to create a long-term competitive advantage. [26:50] Where you should invest your funds. [32:30] The ONE thing you can do, over time, to make an executive team opportunity easier or unnecessary. The ONE Thing to Implement From This Episode: The people who achieve extraordinary financial success, in Richard’s experience, didn’t get there through diversification – they got there through focus and planning. They understood what the big, long-term goal was and they made sure their actions, every day, were aligned and in integrity with their vision. Of everything you heard in this episode, what’s the ONE thing you can do to make achieving that lifestyle easier or unnecessary? Think BIG, and then go really small. Links & Tools From This Episode Learn more at familyoffices.com Connect with Richard: Twitter | LinkedIn Want to join Jay & Geoff for the very first The ONE Thing Mid-Year Reset Retreat (June 23rd & 24th in Austin, TX)? Head over to the1thing.com/resetretreat. AWESOME FREE RESOURCES FOR YOU! Get more support & accountability: Join the Living Your ONE Thing Community Form your first power habit with your 66 Day Challenge Calendar Check out our awesome blog! Mentioned in this episode: Factor 75 Head to FactorMeals.com/one50 and use code one50 to get 50% off. That’s code one50 at FactorMeals.com/one50 to get 50% off! Factor 75

Transcript

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0:00.0	This is the One Thing Podcast where we teach you the surprisingly simple truth behind extraordinary results.
0:08.0	My name is Jeff Woods. I'm the Vice President here at the One thing team. On page 114 of the book you have the seven circles,
0:16.7	the seven most important areas of your life, your spirituality, your physical health,
0:21.5	your personal life, your relationships, your job, your business, and your finances.
0:27.6	In this episode today we are diving into the circle of finances, specifically how multimillionaires think about wealth
0:36.8	creation. The person you are going to meet today is the CEO of the Family
0:42.0	Office Club and you're going to quickly learn what a family office is,
0:45.6	but once you have a net worth of 20 to 30 million and up, you start thinking about forming a family office and the net worth of the people that this guy works with are anywhere from that 20 million up to 100, 200, 500 million dollars.
1:03.4	And the purpose of this is to dive into the mindset required to get there.
1:08.0	How did these people think long before they had that type of a net worth?
1:12.0	Because these people did not inherit that money they created it.
1:15.4	What was their mindset?
1:17.1	Where did they focus?
1:19.0	How did they think about their business and protecting their business? and then once they were at that
1:23.8	level what are the things they think about now? The reason that we believe this is
1:28.5	important to you is because when we talk about setting goals it's not about just
1:32.3	asking where do I want to be in mapping a goals, it's not about just asking,
1:32.6	where do I want to be in mapping a plan out?
1:34.5	It's about time traveling into the future.
1:36.9	Someday from now and asking,
1:38.9	what would life look like if it was absolutely amazing
1:42.3	in my spiritual life, my physical health, my personal life, my
	...

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