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The Bronson Equity Experience
26 Plays1 month ago
Bronson Hill, the Founder and CEO of Bronson Equity. Bronson is a former medical device sales executive turned full-time investor and entrepreneur. He's raised over $30 million from investors and helped countless people unlock the power of passive income through real estate syndications and alternative assets.
But Bronson’s journey isn’t just about numbers and deals. It’s a powerful story of stepping out of the corporate world, embracing risk, and building a life rooted in financial freedom and purpose. He’s also a speaker, author, and thought leader who’s passionate about helping others break free from the rat race and achieve true wealth.
In today’s conversation, we dive deep into Bronson’s entrepreneurial journey, the mindset shifts that changed his life, his books and insights on passive income—and the practical steps you can take to start investing smarter.
So, whether you’re an aspiring entrepreneur, a seasoned investor, or someone looking to build wealth beyond your 9-to-5, this episode is packed with value.
Stay tuned, and let’s dive into the story of Bronson Hill.
Don't forget to like and subscribe !
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Transcript
The Role of Mentorship
00:00:07
Speaker
Yeah, I would say, you know, get a mentor, you know, and get a mentor. And it doesn't necessarily have to be a like, hey, ask somebody, hey, will you be my mentor? Just really go into people that you respect. And I think if you go to someone who's further along in their career and you just tell them, hey, I see this in you and I appreciate how you do this. And, you know, I admire how you lead yourself, you lead your family, you're leading your business.
00:00:27
Speaker
And is it okay if we got coffee once a month or if I got together with you and just, you know, I asked you some questions or can I email you? A lot of times it doesn't have to be a formal thing. I've had formal mentors and I've had a lot more informal mentors.
00:00:39
Speaker
And it's just really great when you're going through something challenging just to be able to pick up the phone and say, hey, I'm having a challenge here. What would you do in this situation? Right. Because really when we get by ourselves, we're, ah you know, we we don't know what to do.
00:00:53
Speaker
um we can get stuck. Right. And sometimes a mentor, they can give you an idea or they can open a door through a relationship of like, you know, you should talk to this friend over here, or you should talk to this resource that I know.
00:01:04
Speaker
And so that's where people that have gone, you know, been around a long time, ah they'll be able to help. And so the older I get, the more I realize how great it is to to be a mentor, and to really be able to help other people. So I can't mentor everybody, but you know, for the right person, I actually be able to help this person. Hey, here's, su I would do this a little different. I would would look at this. What do think about this? And so I just try to, you know, find ways that we can be helpful to other people.
00:01:23
Speaker
And so I think it's really, it's really positive. So I think, you know, the value of getting mentors, getting peers, really having people in our life that can and speak into it is really valuable.
Bronson Hill's Career Transition
00:01:48
Speaker
and welcome to a not exciting episode um the entrepreneur speaks podcast the podcast that brings you inspiring conversations with entrepreneurs from around the world who are making things happen breaking boundaries and building businesses that matter i'm your host kofi animedu and today we have an amazing guest joining us bronson hill the founder and ceo of bronson equity
00:02:19
Speaker
Bronson is a former medical device sales executive turned full-time investor and entrepreneur. He's raised over $30 million from investors and helped countless people unlock the power of passive income through real estate syndications and alternative assets.
00:02:39
Speaker
But Bronson's journey isn't just about numbers and deals.
00:02:44
Speaker
It's a powerful story of stepping out of the corporate world embracing risk, and building a life rooted in financial freedom and purpose.
00:02:56
Speaker
He's also a speaker, author, and thought leader who is passionate about helping others break free from the right risk and not achieve true wealth.
00:03:07
Speaker
In today's conversation, we dive deep into Bronson's entrepreneurial journey, the mindset shifts that changed his life, his books and insights on passive income, and the practical steps you can take to start investing smarter.
00:03:27
Speaker
So whether you're an aspiring entrepreneur, a seasoned investor, or someone looking to build wealth beyond your 9 to 5, this episode is packed with value.
00:03:40
Speaker
Stay tuned and let's dive into the story of Bronson Hill. Welcome to my show, Bronson. Kofi, really excited to be here, man. Love talking about helping people become more free and living out what they're here to do. So I'm excited to have this conversation.
00:03:56
Speaker
All right. So good to have you once again. So for listeners who may be new to your work, can you tell us a bit about yourself and what Bronson Equity is all about?
00:04:08
Speaker
Yeah, so I was a, you kind of get my my story a little bit, but I was a well-paid medical sales professional, was making over $250,000 per year, i had a great job. But the thing I really didn't have is I didn't have control over my time. I wasn't able to take time off. I worked with a couple of physicians that i've made millions of dollars a year, but they would work 60 to 80 hours a week every week.
00:04:29
Speaker
And then if they didn't go to work, they didn't get paid. And so to me, it didn't really feel like financial freedom. So to me, I think a lot of people say, hey, I want to be financially free. But really what most people want is they want time. They want to have time to be able to, hey, I've got my expenses covered. I've got my stuff I need to be able to live. And then what is it I want to create? i think it's something like 65% of workers are disengaged at work or they don't like their job. And so it's it's kind of tragic, right? What if you could do something that you really find purpose and meaning in and really be able to pursue that full time so was able to start to learn about real estate uh you do what a lot of people did in the us s where i just started to raise money for real estate um and then i i realized it wasn't really getting me to wealth fast enough a lot of people think that if i just own a rental house or two or three then i'll basically you know be able to be become financially free but it takes a lot of times five ten
00:05:18
Speaker
20 years to be able to
Real Estate Syndication and Cash Flow
00:05:19
Speaker
get there. And especially these days, there's not a lot of cash flow. So I learned about syndication, which is basically just doing larger deals together. So our first multifamily deal was 225 units. I raised a little bit of money for that, invested some of my own money.
00:05:32
Speaker
And then we were able to basically as as a partnership, be able to buy this building, did very well in that investment. And then over time, just continue to more Actually, now it's been about um close to $50 million dollars raised from investors and just really you know finding a way to help people find cashflow, appreciation, or tax benefits or a mix of those three in what they invest. So this all comes from the phrase Warren Buffett has this this quote where he says, unless you learn how to make money while you sleep, you will work until you die. And so Kofi, a lot of people like... um you know, we just keep working. Even if you're making a lot of money, it's like the goal is either to work more or to maybe put it in stocks, which are very volatile.
00:06:08
Speaker
And so, you know, if you can find a way to actually own assets that create cashflow and have some sort of inflation hedge, you're doing really well, right?
Entrepreneurial Risks and Rewards
00:06:15
Speaker
You're out able to actually make your money actually work for you, right? Because a lot of people would say, hey, um you know, I don't want to fire, you know, the main of my book behind me here is fire yourself. So it's like, how do I fire myself? But a lot of people are like, hey i enjoy my job. I enjoy what I do.
00:06:29
Speaker
And so, but that's not really the point is is what happens if you became, you know, God forbid you became disabled or you had a family member that was disabled you had something that changed in your situation, all of a sudden you needed to take some time off.
00:06:41
Speaker
Would you stop making money and not be able to live because, um you know, you have to go to work. So really the goal is to try to create passive income that really works for you even when you're not working. And then it's truly scalable. And then I see people be able to live a life. They dream, really pursue the things that are really important to them, the purpose that they want. so that's really what really gets me excited and gets me up in the morning.
00:07:00
Speaker
All right. So thank you for this introduction. We'll really unpack a lot of the things you've said. We'll talk about your book. We'll talk about what you really mean by passive income.
00:07:12
Speaker
But let's go way back to the beginning. So how did your entrepreneurial journey begin? Was there a specific moment that kind of sparked your move into entrepreneurship? Yeah.
00:07:23
Speaker
Well, it all began with a young boy and a dream. I'm just kidding. I don't want to go back that far. um No, I think that for me, um you know, I really, i was doing well. I'd always kind of had an entrepreneurial mindset where I was like, I want to do my own thing, but, you know, a lot of my family's in education. And so I just kind of followed a path. I ended up getting, him you know, a BA and then a master's degree. And um You know, those are not bad things, but my know my dad's a a professor, college professor. My mom's a teacher.
00:07:48
Speaker
My grandmother was a teacher. or My sister's a teacher. or My aunt and k uncle are teachers. Everybody's a teacher. So the teacher route, at least in the U.S., is very much kind of like everything should be stable and you're going for like, you safe you know, safe, secure job with a benefit and a pension. You're kind of going for that safety route.
00:08:04
Speaker
But the problem with that is if you are entrepreneurial, you're it's a totally different way to live. You know, i mean, it's just, it's a very different mindset. So for me, I always had said, um you know, I want to launch my own thing. I want to really branch out, but I just, I'm kind of afraid to. And I also, um you know, I also have this kind of sense in me, I didn't want to be 70, 80 years old and live with regrets and be like, man, I wish I had tried. I wish I had tried to do something.
00:08:26
Speaker
And so I think a lot of times we get in these situations where um it's it's it's, you know, we we know we want to move towards something that it could be a relationship. It could be a a job, it could be some sort of big thing and we get scared or we just, oh, this feels unfamiliar. It feels, but a lot of the growth happens when we step outside of our comfort zone. So for me, it was really the idea of like, well, can I do this on the side? So while i was doing medical sales and I started, started working 40 hours a week, maybe I dialed it down about 30 hours a week. and then I started really ramping up on the other side. So I was hustling for a while. I was doing 30, 40 hours a week in real estate. So i was doing both.
00:08:59
Speaker
and But then I started to get to where after a few years, so couple of years, my my income basically had covered from real estate was more than my income or it replaced my income from the medical sales
Choosing Passion Over Stability
00:09:08
Speaker
job. Right. So then and that case, I was like, okay, what do i do so that I, you know, I want to switch to this, but it felt like a very unnatural movement. Like, oh, do i do I leave this great job? My whole family's like, you're crazy. You're making this great money. Why would you ever leave your great job?
00:09:20
Speaker
But, uh, you know, when when I left my job, it really opened up a lot of opportunities for me, a lot of possibilities And allowed me to really create, you know write the book, to do the podcast, to do a lot of things that I really wanted to do.
00:09:31
Speaker
And so a lot of times we just don't think of it that, you know, time is really our most precious resource, right? Going back to that financial freedom is that if we can simply figure out out what it is we really want and then move towards it. So to me, it was like, hey, if I had my own company, my own investments, my own thing that I could create, instead of making millions of dollars for someone else,
00:09:50
Speaker
And me getting a salary and getting um but bonuses, I could basically be a part of the equity side. And so there is more risk in a way on being ah an entrepreneur or kind of doing it as an investor. But there's also a lot more upside, which I really appreciated. I still want us to spend some time on your submission because a lot of people have great ideas.
00:10:09
Speaker
But then there's one thing that really stopping them to move forward. That is fear. So they become very comfortable in their comfort zone. But what gave you that confidence to take the sleep?
00:10:24
Speaker
um You know, I think there's there's a saying, you know, sometimes when in life, if you have to make a bet, you know, bet on yourself. And so um I think there's something to that, you know, what gave me confidence to be able to make the jump?
00:10:35
Speaker
um What really, you know, there's and there's a quote that says, you're the average of the five people you spend the most time with. And it's pretty true almost in every area of life. So if I look at my life and I see as far as wealth, I see as far as spirituality, I see as far as health, if I have different health goals, um I'm probably average of most of the people I spend time with. So if I want to make an improvement, so I i run a lot, I do a lot of these they have these races here where you run, you compete with other people your age. And so as I get older, i just I get better just simply by not, but just by continuing to race. And so I get older, I can able to do well. But one of the things I've realized with health and wealth and spirituality is getting around people that are way are much better than me. So hiring a coach,
00:11:12
Speaker
getting in the room with people that are training. Maybe it's on the on the you know the the wealth side, kind get in the room with the people that are 10 to 100x more wealthy than me and basically just be in there. And just by being around them, I'm going to really be able to gather a lot. So for me, when I came when i was first wanting to leave, I talked to friends and family and they're all like, oh, you're crazy.
00:11:31
Speaker
Why would you ever want to leave this great job? But what happened is I got in a group of entrepreneurs And met with them. We met together for a year and, and you know once a month or we'd meet for four hours. And after a few months, I shared, hey, this is what I want to do. this is my goal.
00:11:44
Speaker
um And they all said, without exception, they were like, yeah, you should leave your job pretty much as soon as possible. And then one of the guys said, yeah, and if it doesn't work out, you could always go back to medical sales. And I was like, oh, wow, like I could always go back. Like it kind of opened up a new possibility i didn't see for myself.
00:11:58
Speaker
And so I think that, you know, again, it's it's important to be around other people and be supported by them, but it's really careful who you should be very careful who you listen lot times your family They don't want you to be you disappointed. They don't want you to be hurt. So they'll of times discourage you ah because they're just not geared like you. And so when you talk to people that ah have done it, have really done what you want to do, they'll have a totally different approach and they'll help to reframe things for you. So again, there are a lot of people that want to be mentors. A lot of people wonder like, how do I get a mentor? What do I do?
00:12:24
Speaker
I think a lot of it, you just got to be willing to be, ah to go ask for it, to talk to them. Hey, can I meet with you once in a while? Can I share? Here's where I'm at. I admire this about you. And lot of people will, know, they'll take time to meet with you and it's really valuable. So I really, really appreciate the mentors that I've had. And I think that's really that's really lot of confidence to move forward, even in certain times.
00:12:42
Speaker
All right. So my guest, once again, is Bronson Hill. Bronson Hill of Bronson Equity. Now let's talk about Bronson Equity. So Bronson Equity has become a strong name in the world of syndication and passive investing.
00:12:57
Speaker
But what really inspired you to build this business? And what was your vision from the start? Yeah, so I think, you know, really,
Founding Bronson Equity
00:13:05
Speaker
um i had partnered with a couple other ah guys, a couple other guys on their business and and was building it and it was going well. We really had a good time working and we raised together. We raised about $15 million dollars together. So I got a lot of experience by doing that talk with a thousand investors one-on-one.
00:13:20
Speaker
And then after a while, I kind of realized, you know, I think, again, I'd love to kind of do my own thing. I'd love to be able to create my own content, really be able to kind of put things out there. And so, um you know, I think there's kind of a natural progression in life and especially in business where, you know, partnerships typically don't last forever. A lot of partnerships last, you know, of two to seven years. Some people are lifelong partners in business, but a lot times you're kind of partners for a while and then it kind of changes into something else. And so,
00:13:43
Speaker
I think you know being able to to to be flexible and say, hey, yeah okay, i want to start this this business. And really we really exist to help people learn about financial freedom, have financial education, as well as ah great investing opportunities, right? And so our values are being very conservative in the deals that we do, um you know really trying to make sure we're very transparent and really going for a long-term partnership with investors. And those are, to me, they sound pretty basic, but a lot of groups, they don't operate that way, right? They don't they want to and don't want to hear from investors after they raise money.
00:14:10
Speaker
um They don't want to you know, just, I don't know communicate as well or be just transparent. I think it's, it's just, I look at it like, you know, i want to do it in a way that's like, we feel like family, we feel like partners, we're going along this journey. So to me, when when you build a business or you build a brand, um it's something, and this is more kind of from a a business owner side, it's it's super valuable because you have something that's really yours. I mean, obviously, ah social media, they can shut you down, you know, other things can happen, but you have an email list, you've got a brand, you've got people that like what you're doing and who you are, um that really speaks, right? People will follow you because they like you. They they know, like, and trust you.
00:14:44
Speaker
So I think that um when you build a business, um it really allows you to really scale to a much higher level than what you were doing before. And so I love the ability to to have a business, be able to do new things. We're getting into a lot of private equity stuff now and buying businesses and oil and gas and other projects that are outside of real estate.
00:15:00
Speaker
And I think that um you know just having those options is is super valuable. All right. Let's still spend some time on what do you just said. Because you've raised millions in capital from investors.
00:15:12
Speaker
But what's been key to earning and in them maintaining the trust of your investor network? Yeah. I mean, I think trust is something that's really interesting. know, you can, trust is slowly gained, but it, uh, somebody recently said it's gained by kind of like the drop full, but it's lost by the bucket full. Right. So it's like, you know one moment somebody says or does something, it shows kind of their true colors and they can lose all their trust. They can lose all their that could be they have the people. So but I think that, you know, and it's not that, you know, we've done deals that have gone phenomenally well and people invested with us. They've made a lot of money. We've done very well together. We're very grateful for that. We've had deals that have really struggled. We've lost investor money, right? So we've had all the range of above. And I think the only thing we can say is that, you know, it's not just what happens. It's how you go through it, how you own your part in it.
00:15:56
Speaker
ah Even if something's not necessarily our fault, ah we'll still say, hey, this happened or this bad scenario happened. Like we're going to own that and say, we're really sorry we brought you this and I invested my own money and whatever. But like,
00:16:07
Speaker
You know, you can't change what's happened. You can just really walk through it and say, okay, well, you know, if somebody works with us and we want to have full ownership. And so regardless, um you know, I think at the end of the day, um you know, people are more important than money. People are more important than our own business. And I think that's when you meet people that are in business and they really put people first and you can tell because sometimes they'll say, hey, you know what?
00:16:29
Speaker
um We're really not the best ones to help You should try this competitor over here. They're going to be great. Right. And that's but that's unusual. You're sending up somewhere else. But like it's actually what's going to help them. And that's a very trust building conversation. And there may be a chance to work together later or maybe they'll refer you to somebody else.
00:16:42
Speaker
But it's kind of rare, honestly, at least in in the U.S. it's It's kind of a rare thing where people are actually um referring people. you know, people to to competitors or are saying, Hey, we did this and and we own this part of it. And here's our what we're learning. And, and, and just with investors to really taking those calls, even when people are upset or they're, you know, something happens, it's not preferable because, you know, when everything's going great, you're like, you're here, everybody loves you and everything's awesome. But, you know, I think character is really shown when things are not going well. Right.
00:17:09
Speaker
And so I think that when it comes to that, I think it's just being transparent with people because people know when they're getting a sales pitch, you know, one thing about sales and being medical sales, people know when they're getting pitched something and people know when it's just genuine, like, Hey, I just want to help you i just want to help you get where you want to go. And, you know, we have our deals we love, but there's also a lot other groups out there as well. And so there's plenty to go around, right? If I can just help enough people like Zig Ziglar said, if I, you can have anything you want in life, if you just help enough other people get what they want. Right.
00:17:34
Speaker
oh right.
Passive vs Active Income
00:17:36
Speaker
Now let's break some concepts down. We talk about a lot of concepts, but i want our listeners and viewers to really appreciate some concepts and we'll build up upon these concepts.
00:17:48
Speaker
So let's start off with three three concepts. Let's start off with what it mean you mean by passive income, what do you mean by active income, and what do you mean by multifamily assets.
00:18:03
Speaker
So let's start with the first one. What is passive income? Yeah, so well let's start with active income. active Active income is what you work for. So you go to work, it's a time for money trade, you do this job and they pay you this amount or it's this many hours for this rate.
00:18:18
Speaker
That's active income, right? Or maybe I own a rental house, but I'm doing all the work myself, right? So the more active you are in an investment, it means you're you're doing the work. A passive investment, now there's some that would say there's nothing there's really no such thing as a passive investment. And ah in some ways I agree that passive investments invest investing is kind of a myth.
00:18:37
Speaker
because everything takes some work, right? But there are things that are more passive, right? So ah a more passive way to invest is instead of me going and buying a a rental house and managing it, or even having a property manager management, me managing the manager, maybe I find a group that is buying an apartment building, or they're buying an oil and gas well,
00:18:55
Speaker
And I say, hey, um I'm going to do my work. My work on the front is to vet the team, to vet the deal, look, make sure it looks good. and And then I invest my my cash into it. And then I basically, you know, keep an eye on the statements. I kind of watch it. But from the point, typically the work is on the front end where you're vetting the team, you're vetting the deal.
00:19:11
Speaker
And then you invest. And then basically, hopefully the goal, as we talk about on our podcast, of the Mailbox Money Show, is that it's all about watching that those funds come in, watching to see, okay, that's that's the part. But the work really, it's much less work. And that's where I see some people that are invested in, you know, sometimes 10, 20, 30, 50, 70 different deals. i think 70 is a bit much, but some of these passive deals where they're able to scale their wealth up over time without them doing the work, right? So it's the whole making money while you sleep.
00:19:38
Speaker
And the test, there's a test that I call, it's called the passive, test If you can't 10x the current strategy that you're doing. So imagine somebody has three rental houses, I had four rental houses at one point, let's say somebody has three rental houses.
00:19:51
Speaker
And if you couldn't immediately go to 30 to 10x that so go to 30 from three to 30 rental houses, and, you know, basically be able to quickly acquire those, get a manager in there do all that.
00:20:01
Speaker
And a lot of people, when I share this, their eyes just get a bug out of their head because they realize like, oh my gosh, what I'm doing is not actually scalable, right? So what is scalable is when you develop the skill of being able to analyze deals, be able to put money to things that you feel comfortable with.
00:20:16
Speaker
No deal is ever going to you know go exactly the way you want. Some will go better, some will go worse. Some will you know work out phenomenal. Some are will be ah maybe a loss. but Just the idea that you are able to analyze those and put money into things and grow your wealth passively over time. It's it's a skill. It's like a muscle. And so I think that's what's really valuable.
00:20:31
Speaker
um So that that answers the passive active question. And then you were asking about multifamily investing. Yeah. Yeah. So multifamily investing is, I've described it a little bit, but it's, um you know, you can, you can go buy an apartment building, you know, there, it gets much more efficient over about 60 units. Once you're at about 60 units, um you basically can go and you can have a property manager that's on site typically. So instead of, you know, if you had a 10 unit, you know, somebody had managed to manage six different 10 unit buildings to get, you know, the same efficiency versus 60 units in one place, they can just stay at that one unit the whole time.
00:21:04
Speaker
Maybe they help lease out a little bit. Maybe there's a full-time or part-time and maintenance person that's there instead of, you know, you know, many houses. If you had 60 houses, but you have to go to the repair guy. You'd be paying more for them per hour.
00:21:15
Speaker
They would go to the, uh, to the house. Then they'd have to go to Home Depot to go get the part and then come back. And it's very inefficient versus the, at, at apartment building. Typically it's the same, you know, type of, uh, it's one set of plumbing, one, one roof,
00:21:27
Speaker
ah Same type of appliances typically, and obviously some of the same colors so when you're painting. So it's much more efficient. You also get a discount on the labor because a lot of these people are more full-time in the maintenance or the leasing side. So ah how it really works, you know it works similar to these other passive deals where we pool ah investors together. So we'll say, okay, we're raising $3 million dollars or $5 million dollars for this deal.
00:21:47
Speaker
We're going to raise $50,000 or $100,000 at least from each investor. Some people might put in more. But um basically pulls up and then based on how much people put in, that that determines how much ownership they have, how much cashflow they're getting.
00:21:59
Speaker
And it basically really determines um you know how they're going to ah be compensated over time. So the goal of ah of a good multifamily deal is to hopefully through cashflow and appreciation about double ah the investment in about five years.
00:22:13
Speaker
And so um you know about 15% kind of average annual return is kind of what we look for 15 to 20%. And that would basically about double um maybe 1.8 to 2 equity multiple in five years. So the goal is really to try to have an asset that you own, that cash flows that will appreciate over time, do some work on it, do some renovations, increase the rents as people move out so that you can continue to increase the value of the property.
00:22:38
Speaker
All right. So now let's spend some time talking about your books.
Insights from 'Fire Yourself'
00:22:42
Speaker
Can you tell us about your latest book and what really inspired you to put this together? Yeah, so I have one book out here. This is Fire Yourself. It's an Amazon number one bestseller um for, it's been about the last year a half that we've had that out. So it's basically the subtitles, replace how to replace your working income with passive income in three years or less. So if somebody's interested in learning more about passive income, you can find that on Amazon.
00:23:07
Speaker
ah The second book is basically, I have had interviews with over 2,500 high net worth ah investors, typically 2 million net worth, sometimes much higher, 10, 20, 30, 50 million or more. And what's really come out of this is just some interesting things around mindset, right? What are people doing that's actually allowing them to scale wealth? What are things that they're doing? In the U.S., it's common. and i don't know how it is ah where you're at, but you know basically um there's this common belief that either come from money or you're not. you The rich get richer and the poor get poorer, right? There's this idea that like you're either whatever c class you're in, that's kind of where you are. But ah in 2019, Fidelity Investments, a firm here did a study and found that actually 86% of
00:23:46
Speaker
of millionaires are self-made. so that means almost nine out 10, actually, they they didn't inherit their wealth, right? They actually, they they figured out a way to do it. So that should actually be very encouraging for somebody who does not come from wealth is that um there actually are habits and mindsets around wealth that that are learnable, teachable things that can allow people get to the next level.
00:24:07
Speaker
So that was really, really encouraging. So one of the things that came out of this, ah Kofi, was this idea of, I call wealth worthiness. A lot of times we we don't walk into ah a situation where we can 10X our wealth or we have a great investment deal. A lot of times we will self-sabotage, we'll talk ourselves out of it ah because we just really don't feel worthy of it. A lot of times we have this you know idea that, hey, I make $100,000 a year And that's kind of what I make. and And that's, there's kind of like this thermometer, right? That kind of keeps people at a certain level. And for some people that make a million dollars a year, they'll just kind of feel like, oh, I'll find a way to make a million dollars year. So there's kind of this like expectation we have in ourselves of what we feel like we're worth.
00:24:47
Speaker
And so um you see this also in relationships, right? This idea of worthiness, right? If I go, if I'm a single guy and I show up at a party and there's a beautiful woman there and I want to go talk to her. If my self-talk has been, oh, I'm not good looking. She'd never like me. I have nothing to offer.
00:25:02
Speaker
Well, how's that conversation going to go? Right. It's probably not going to go very well if it happens at all. Right. Because I will have kind of defeated myself in my mind. But if I'm like, Hey, I've got something to offer. She'll be lucky to talk with me, you know, kind of thinking, it I don't have say loud. But if I feel that from the inside, i really feel like I have a personal worth and I'm worthy of having a relationship with a beautiful woman. and well, then that's good that may go very differently, right?
00:25:21
Speaker
So I think that um you know there's this idea of worthiness is how we talk to ourselves, how we visualize ourselves, what we see about ourselves. um A lot of people will stay where they're at on his for a certain level of income for a long time or they regress, or they'll take incremental improvements. They'll go from 100,000, 125,000, 150, they'll kind of have these little jumps and over time they'll ah make a lot of money.
00:25:42
Speaker
But there are people that make these big jumps, right? They go from, ah you know, I had i had a 20X jump in my net worth in about four years, right? I went to multiple seven figure net worth. Well, how did that happen? it It came because I created this person of this is the person that I am.
00:25:55
Speaker
so when these opportunities came around, I was able to walk forward and really step into those. And then the world, universe, everything responded to that. Just saying, oh, this person's showing up this way. This is who they are. Right, you've just emphasized mindset shifts for world building, but I still want us to spend some time to address this.
00:26:15
Speaker
What are some of the most important mindset changes that entrepreneurs need to adapt in order to be able to build well?
Mindset for Wealth Building
00:26:25
Speaker
So, you know, Tony Robbins, who I follow, he's a motivational speaker. He talks about, um you know, success in life is about 80% psychology.
00:26:33
Speaker
So just kind of getting in the right mindset. And you think, well, why is that? Why is mindset such a big deal? Because I've realized in my own life, um I've had a shift in my mindset. I've done some work and therapy or I've addressed certain things.
00:26:45
Speaker
I've done something really challenging, moved toward it. And all of a sudden I have this huge breakthrough. And it's like, well, why is that? And I think that there's just this incredible connection between personal development and entrepreneurial success. i've I've met people that have done, you know, raised hundreds of millions of dollars or have a net worth of hundreds of millions of dollars.
00:27:03
Speaker
And they, you know, they have these mindset practices that have allowed them to make these big jumps. So, um so, so what, what is the connection there? I think really it comes down to just the idea to be, you know, resilient, to be flexible, to grow.
00:27:15
Speaker
ah Some of the things that I do a lot of is visualization and just, know, I have these things called whisperings where I, It's not just what we say to ourself in a mere like an affirmation. It's basically what do we whisper to ourselves when we're out?
00:27:26
Speaker
We're facing a challenge. Do we are we able to get to a place where we're actually creating something new? um There's a great book out. It's an older book called Think and Grow Rich. It's by Napoleon Hill, which is not my cousin, even though we had the same last name. But um he yeah you know he wrote this book years ago. And he basically, he said this. He said,
00:27:43
Speaker
You should spend 30 minutes a day ah thinking about the person that you intend to become. Spend 30 minutes a day imagining or thinking about the person that intend to become. why would you do that? It's not a lot of time, especially in our day, maybe 80 years ago, they had more time. Well, why is that 30 minutes?
00:27:59
Speaker
Well, it's because it's really powerful. If you think of yourself, if you take whatever you're making right now in your job or I'm making in my career or my business, the person who, you know for me at a 10X of my wealth right now, that's a different person than I am right now, right? I'm actually a different person there.
00:28:16
Speaker
So if I think of what does it feel like, not just to have the money, but to be the person who's been able to achieve that, right? He's been able to do those business deals, has been able to raise that money or do whatever those things are in those investments or business to be able to get there. So I think it's when we visualize it and we step into, we feel what that would feel like in our body. we We think about walking in a room with that sense of power. We think about being able to create in the ways we want to create.
00:28:38
Speaker
There's a lot of power there. And so um I think you know people that I've watched that are very successful, they have these type of practices where they'll they'll visualize, they'll step into it, they'll have ah this connection with, hey, if I'm gonna go 10X, I've gotta let go of like 80% of what I was doing and just focus on this 20% to really be able to get there. so So I think I don't have a silver bullet on how to do it, but I do know just really getting clear on what you want, so really getting clear on on imagining and dreaming big and realizing you know a lot of us, we're just simply limited by our own imagination
00:29:09
Speaker
And our discipline to be able to sit in that and just imagine what that feels like to be that person. All right. All right. Thank you so much, Bronson, for sharing this with us.
00:29:21
Speaker
Of course, yeah. I had this teacher back in the day who used to always stress that their mind is indeed a terrible thing to waste. He kept on saying that. their mind is a terrible thing to waste.
00:29:33
Speaker
Now let's revisit passive income and investing in syndications. In your experience, what do you think are some of the most common misconceptions people have about passive income and investing in syndications?
Clarifying Passive Income Myths
00:29:48
Speaker
um I think there's a number of things. I think, you know, a lot of people think that, um you know, we talked about owning rental homes, that that would be passive. I don't think that's very passive at all. I think that's actually an active way. Even if you have a property manager, it's an active way to invest.
00:30:02
Speaker
um I think also people will get into online businesses or trading stocks or options online. Uh, it's not that those can't work. It's just, they're not passive. Right. So the whole thing is it's about scalability. And you know, what I did when I was had, you know, four rental houses, as I realized I was actually creating for myself another job, you know, i was actually saying, well, if I get to 10 or 20 or whatever, well, eventually that becomes another job where you're actually creating yourself,
00:30:26
Speaker
another, like more work to do. Right. And you can say, well, I'm not actually running it. It's the property managers that are running these homes. But you know, at the end of the day, it's, it's still a lot of work. They're going to ask you, Hey, you know, the tenant trashed this over here, or Hey, what do we do here? Or what do you want Like it's, it's constant information and back and forth. even though you're not the manager, they're asking you for all this stuff.
00:30:45
Speaker
And so um I just think so anyways, we own homes and kind of, you know, yeah even had property managers who realized that. So I think that, you know, when comes to passive income, it's just really looking at, you know, what's really going to give me control over my time. Is there a way both to grow my wealth and also to continue to grow my my financial freedom. And it doesn't mean it has to be a syndication. Syndication is you the fancy word for just pooling money together to go buy something, but it could be something that you're investing in someone else's company or you're investing in some other type of a thing that you see, hey, this could be something that has a big upside. I feel like I understand
00:31:19
Speaker
kind of the primary risks of this deal. My book, Fire Yourself, I talk about this, like, how do you vet a deal? How do you know when deal is a good deal or not a good deal, whatever asset class it's in, whether it's real estate or oil and gas or, or a private business or anything like that. So I think, again, it just comes down to who's doing the work.
00:31:34
Speaker
And, you know, what do you perceive those risks as being? Because if it's something that you have the ability to actually, um you know, really fully, you know, understand as as well as you can, and you see, hey, well, you know,
00:31:46
Speaker
This deal, if it goes well, we're going to make a lot of money. And if it doesn't, then you know we might lose a little bit, but I feel like it's manageable. ah we have For example, we have one deal that is more of a venture capital deal, which just means it's a little it's higher risk. It's more of a new kind type of company, but it's in the oil and gas space. It's technology play there. And it's if it works the way we think, i mean, it's it's a 10X to one hundred x type of thing, right? Which is huge, right?
00:32:07
Speaker
But I also think there's a pretty good chance it goes to zero, right? So it's like... So, I mean, you know, there there are some of these things we'll make ah decisions to invest with high upside. um Also with the the understanding that, you know, some of the the things that we do may not work out the way we want. So if it doesn't work out the way we want, what what what actually does that look like for you as an investor? So that's that's a more, that's an unusual example I shared. Typically, we try to do things that are very stable, that we see very low risk in that are, you know, 10 to 20% They're just kind of like plotting along that are really solid, but ah every investment is different. I think it's just very important that you understand what you're investing in, what the primary risks are and how the, how it's going to make money.
00:32:42
Speaker
All right. So you've been on this journey for quite some time. Can you share some of the useful lessons you've picked up along the way with us?
Networking and Education
00:32:53
Speaker
Yeah, I think there's really a couple of things. One, um you know anybody who wants to grow in any area of life, and we talked about ah the average of the five people we spend the most time with, but there's two things really that gets you there. They don't sound that sexy, but they're awesome. like One is networking. So getting in the room with amazing people, sometimes even paying to be a part of a room like that. Like we've have our a group called the Wealth Forum, which is high net worth investors. People pay to be a part of the group. They come to live events.
00:33:18
Speaker
um It's great. And then everybody's kind of in there really trying to add value to other people. So really the value of of getting mentors and being in the room and getting peers is is really, really valuable. And then the second thing um is the education piece, right? Is really being somebody who devours great podcasts like this one, right?
00:33:34
Speaker
ah Who listens to or or reads awesome books, right? watch Watches the the YouTube videos and gets on the courses. all these things, right? There's so much out there that we can learn. And I think the older I get, the more I realize, um the more I can learn, right? The more there is out there to be able to learn. But it's something that, you know, if you just simply are are curious and you're able to kind of say, hey, well, how would this work or what happens here?
00:33:56
Speaker
ah There's a saying by Brian Tracy. He's another motivational speaker. And he says, you know, if you want to earn more, you have to learn more, right? And so it's just the, you know, Warren Buffett will also say the best investment you you make is in is is in yourself, right? That's the best investment you can make.
00:34:10
Speaker
So I think that a lot of times we overvalue, we want a quick scheme. We want some sort of thing that, hey, it's going to 10X or you know higher. And I talked about an investment that can do that. But yeah know we we want to go for these big swing for the you know stars kind of things. But a lot of times it's just taking time, getting around people, learning what they're doing, learning about their successes and their failures.
00:34:28
Speaker
And then also saying, hey, you know what can I learn? What can I learn from this situation? What can I, you know, great question when you're in a room with amazing people is, Hey, I'm just new this. Or what's, what's one challenge you've What's, what's been the, know, know you've had some successes, but what's the biggest thing that you would do differently, right? Cause you're from that. going to learn, man, that might save you a lot of money and a lot of time from, from avoiding a certain mistake they made. Right. So I think that the networking piece of meeting people and not just shaking hands and, you know, hand out business cards is actually like, well, what is it this person needs? What do they want? Is there a way I can help them
00:34:59
Speaker
And that's great. And a great networking is just really trying to help other people. And then the education piece. Like I mentioned, you know, last year i read 90 books this year, I'm trying to read 90 to a hundred books. And it's just, these are things that really, really help us to grow and become better people.
00:35:11
Speaker
And so I think that it's really very important. We have an education plan as well. All right. So just as he said, if you want to earn more, you have to learn more. And these are nuggets from my guest, Bronson Hill.
Music as a Creative Outlet
00:35:25
Speaker
Bronson, we are just about wrapping up. But I read that you're singer and songwriter of about 75 songs. Tell us about that part of your life. You're going sing something, right? yeah yeah Yeah. Cashflow jingle.
00:35:41
Speaker
No, I've written about, yeah, over a hundred songs now over the years, a variety of songs, some gospel or spiritual songs, some are more love and heartbreak songs. So just kind of become a type of therapy where I just you will sing and, you know kind of things I've gone through my life. And it's a great way to be able to express, you think it's so important that we have a balanced life. i mean, some people that are so into just career or just work or just these things, I think it's, we're missing out on something, right? And of course there are times where work's going to go great.
00:36:07
Speaker
Investing is going great. And some of this not going to go as well. and so if you have a balanced life, you family, you've got people that love you, you've got hobbies and things that you enjoy. I think it's so important. So I do enjoy, i do enjoy writing a song once in a while, and it's fun to be able to just express and create. I had an ambition one point to write a passive investing song and kind of put a bunch of funny things in there, but I didn't really quite get around to creating one that it was really good so i'll have to keep working on that all right but before we wrap up you have to give us a feel of one of your songs before we wrap up oh man i don't know have warm up i have to warm up a little bit but yeah there's uh uh there's a bunch i think that you know again i i don't know where to know what i would share i didn't get my get to get the guitar out and start playing so i'm a little more comfortable with the guitar are you me's musical as well kofi
00:36:53
Speaker
I'm trying to be. Yeah. Okay. Maybe we'll sing a duet sometime. Maybe next time we'll sing a duet then. All right. All right. But before we sign off, what will be your pieces of advice for entrepreneurs coming up?
Advice for Emerging Entrepreneurs
00:37:09
Speaker
What will be your pieces of advice for these entrepreneurs? Yeah, I would say, you know, get a mentor, you know, and get a mentor. And it doesn't necessarily have to be a like, hey, asking somebody, hey, will you be my mentor? Just really go into people that you respect. And I think if you go to someone who's further along in their career and you just tell them, hey, I see this in you and I appreciate how you do this. And, you know, I admire how...
00:37:30
Speaker
You lead yourself, you lead your family, you're leading your business. And is it okay if we got coffee once a month or if I got together with you and just, you know, I asked you some questions or can I email you? Because lot of times it doesn't have to be a formal thing. I've had former mentors and I've had a lot more informal mentors.
00:37:45
Speaker
And it's just really great when you're going through something challenging, just to be able to pick up the phone and say, Hey, I'm having a challenge here. What would you do in this situation? Right? Because really when we get by ourselves, we're ah you know we we don't know what to do, um we can get stuck, right? And sometimes a mentor, they can give you an idea or they can open a door through a relationship of like, you know you should talk to this friend over here or you should talk to this resource that I know.
00:38:10
Speaker
And so that's where people that have gone you know been around a long time. ah they'll be able to help. And so the older I get, the more I realize how great it is to to be a mentor and to really be able to help other people. So I can't mentor everybody, but you know, for the right person, I actually be able to help this person. Hey, here's, su I would do this a little different. I would, here would look at this. What do think about this? And so I just try to, you know, find ways that we can be helpful to other people.
00:38:29
Speaker
And so I think it's really, it's really positive. So I think, you know, the value of getting mentors, getting peers, really having people in our life that can speak into it is really valuable. All right. So before we sign off, what will be your last words for my listeners and viewers?
00:38:43
Speaker
um Yeah, so I guess i wanted I wanted to give a gift to your audience here. I always love adding value. And so we have this guide about inflation. So um everybody's kind of worried about inflation. You know, costs in the U.S. are about 50% higher than they were four or five years ago before COVID. And so um how do you take advantage of that? How do you actually get on the side instead of being in the pain of things cost more in the grocery store at the pump?
00:39:06
Speaker
um And so this is a guide I put together. It's called How to Use Inflation to Your Advantage. And it has some things in real estate and lending and ah precious metals, even just you know some borrowing, some really creative strategy you probably haven't heard of and some other stuff I didn't share.
00:39:19
Speaker
If you text the word inflation to 33777, we'll send you a free copy of that. And then you'll also kind of get notified um about any of our upcoming things that we're working on. So if you text the word inflation to 33777, we can keep you posted on what we're up to.
00:39:35
Speaker
All right. So thank you, Brunson, for sharing your rich experience with us today on my show. We wish you the very best. Thanks so much, Kofi. It's great being here. All right. So this has been another exciting episode of the Entrepreneur Speaks podcast.
00:39:51
Speaker
I'll come your way next time with another inspiring and in interesting interesting episode. I remain your host, Kofi Animedu. As always, do take good care of yourself and let's continue to keep hope alive.
00:40:06
Speaker
Cheers. please be sure to subscribe to the entrepreneur speaks podcast on all your favorite podcast channels and if you have any questions or feedback feel free to reach out to us on social media or in the comments section below
00:40:26
Speaker
The Entreprenor Speaks