In this podcast episode, we discuss how to make money, manage money and master money to become rich. Our featured guest on the show is author, public speaker, and entrepreneur Rob Moore.
On the Show Today You'll Learn:
- From broke to millionaire
- Lessons learned from interviews with 21 billionaires and 100+ multi-millionaires
- The link between emotions and sound financial decisions
- The risks of entrepreneurship
- The importance of seeking mentorship
- Overhyped and underhyped trends in finance
- The evolution from currency to cryptocurrencies
- The realities of cryptocurrencies and the future of money
Links & Resources
About Our Podcast Guest: Rob Moore
Rob Moore is an author, public speaker, entrepreneur, property investor, property educator, business mentor and content creator. Rob's mission is to teach the world how to make money, manage money and master money. Whether you're a young entrepreneur, property entrepreneur, have a business idea or just thinking about how to start a business, you'll get the value and business motivation you need to succeed from Rob. His moto is, If you don't risk anything, you risk everything!
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Claus Lauter: Hello, and welcome to another episode of the e commerce coffee break podcast. Today, we want to talk about how to make money, how to manage money and how to master money. And finally, how to become rich. Now, this is a huge topic and I have an expert with me that really can tell us a little bit on how to do it the right way.
Our guest today is Rob Moore. He is an author, public speaker, entrepreneur, property investor, property educator, business mentor, and content creator. You most likely know him as the host of the disrupt disruptors podcast and YouTube channel. In more than a thousand episodes, he has interviewed billionaires, authors, entrepreneurs, and investors, all of them disruptors in their own niche.
He also performed a 46 hour speech on investment and business advice and broke the Guinness world record in the longest speech marathon. Rob's mission is to teach the world how to make money and master money. And his motto is, if you don't risk anything, you risk everything. So let's dive right into it.
Hi, Rob. How are you today?
Rob Moore: Good. Klaus. Thanks for having me on your show. Great to have
Claus Lauter: you on the show, Rob. I understand that early in your life financially you had a bit of a rough time. Tell me about it.
Rob Moore: Yeah. Well, I was broke Klaus. When I was 25 years and 11 months old. I was 50, 000 ish in credit card, on credit card debt, consumer debt, liability debt.
There was no mortgage in that, which I would maybe regard as good debt. There was a car loan, but I'd sold the car. But I still was paying off the loan, even though I'd sold the car and no one ever taught me about making money and managing money. No one ever taught me the things like being an overweight kid would affect how you spend your money and where you spend your money and you'll spend money based on your emotions.
No one ever taught me that, why don't they teach that at school? But I didn't know any of this. My dad. He got me working age six and then he instilled in me a rebellious, disruptive entrepreneurial streak where if I'm honest, I was probably non conformist and I liked my dad had a sense of freedom and he was the boss.
And I looked up to him and liked that about him. He looked like he was the man and no one told my dad what to do. And I think I wanted that from age six, but cause I had to go to school and get the degree and get a job because I got stuck in the system like we all do. And I worked on and off for my dad until I was.
25 years and 11 months and then on December the 15th, 2005, my dad had a big nervous breakdown in his pub in front of all of his customers he got beaten up by the police section by the police diagnosed with bipolar disorder locked up in ward five, which is the ward for people with mental health issues.
In my, city hospital, they wouldn't allow us to see him for two to three months,
it wasn't immediately because I was in shock, but I would say it was in the following weeks, I started to feel intense shame, I felt guilt that my dad had put me through school and university and got me working age six. And here I was broke depending on them. I couldn't, I wasn't independent. I depended on my parents for money.
And that's fine when you're 15, but it's not fine when you're 26. And that shame and guilt ate away at me. And it actually got to a point where it turned into motivation. I went to a property network meeting, meeting locally in my city that had been going on for years. I just didn't know. And there I met my business partner of today.
We've been in business since then. So that's. Approaching 17 years and we own 340 properties between us. We'll rental units because some of the properties have a hundred units in them. We've got 5, 1, 350 tenants and one of the biggest management companies in my city for property. We are in the UK is largest property training business.
I'm an author of 18 books. Plus I'm. I've just finished my 19th and almost my 20th. I became a millionaire aged 31 and a decamillionaire aged 35 and then I stopped counting. And that was all because on December the 15th, 2005, I felt enough shame about where my life was at that I finally decided to do something about it.
Now, I know that's quite a long answer, but it's actually the short version.
Claus Lauter: And actually it makes sense. If you're standing with the back to the wall, there's only one direction you can go and that's forward. And I think with the motivation that you had you made it very far. Now, we have a lot of listeners who are solopreneurs, who are side hustlers, who want to get into the world of entrepreneurship, mainly with e commerce, with online marketing.
And I think a lot of them are in the same situation or have been into that situation before. Now you, in your own podcast, in the disruptors podcast, you're talking to a lot of people who. have become successful. Very few people are born rich. And you have heard a lot of stories from these people. What's the sort of the common nominator that you heard from all of these people?
What drives them? What gets them motivated to get up in the morning?
Rob Moore: Okay, well, I've interviewed 21 billionaires, as well as 100 plus multimillionaires. So I'd have to be an idiot not to know the common themes. One of them is that there is no such thing as self made. You can't be successful on your own.
And you're led to believe that if you are broke and you come from the hood, and you do good, and you turn your life around from the ghetto, and you make money, you're led to believe in the movies that that's something that you did, and it's actually called self made. But you need your customers.
You need your suppliers, you need your outsourcers, you need your VAs, you need your staff. And I learned that quite quickly because I was lucky enough that I found a couple of big mentors in the early days. There was someone who does Dragon's Den in the UK and a property billionaire and I managed to get their counsel in 2009 and 10.
And they taught me things like this. You need to build a great team. There is no I in team. In order to be successful, you need good accountants, good lawyers. You need to make yourself redundant. and bring other people through and leverage their skills and talents. So that's common in virtually everyone that I've interviewed.
The second one, it's quite common for you to hear that hard work equals success, but this isn't true. This is a myth because if hard work equaled success, Then the people down the mines mining the coal and the gold and the people building the buildings and doing the labor and the construction physically with their hands, they would all be billionaires, but actually they're not.
So what I learned is hard work is important to start to get off the ground. When you're starting at the lower level and labor is the lowest level of earning. Vision is the highest level of earning. You've got labor management strategy vision., the visionaries, you don't see them with the axe in the gold and the coal mines.
They own the gold and the coal mines., they're creating ideas for the future of humanity. So you start with hard work to get up from labor to management as quickly as possible. But as soon as you become a manager you've got an outsourcer, you've got a VA, you've got a head of sales, a head of marketing, a head of HR, a head of recruitment, and your job is to manage them and effectively have them be your laborers.
So hard work gets you going, but smart work gets you rich. And this isn't something, because everyone says the hustle, the grit, the grind. That can be a bit, that advice, if it's too relentless, can be a bit toxic. Because no one gets to the end of their life and wished they'd worked harder.
That just doesn't happen. And people do say that, maybe their divorce was caused because of how hard they worked. I remember seeing a famous director saying, Oh no, it was the Star Trek guy. With the bald head. He was in Star Trek for decades. his name.
Luke B, begins with B anyway. Someone will find it out. No, Patrick someone. Patrick Stewart. There we go. We got there in the end. Patrick Stewart said he doesn't have a relationship with his children anymore because he was so obsessed with work. And that's sad. But that's because he worked hard, but he didn't figure out how to work smart.
So that would be the second thing. And then the third thing, and by the way, there's probably like 21 of these but the third thing is having a good relationship with money. I love money and I have a love affair with money. I don't have a toxic relationship with money. I don't envy rich people. I'm not jealous of rich people.
I don't hate billionaires for not paying tax. If anyone's successful and they're younger than me, I hat tip to them, good on you. I want them to succeed. I don't want them to fail. And I love being paid and I will add value, but I love being paid. And anyone I know that's rich., they love money. They might not want to brag about it because they might not want to rub it in other people's faces, but don't get me wrong, they love money.
No one ever, I don't know anyone who said, oh I hate being rich, I'm giving it all away. There might be people who become philanthropists, and over the, towards the end of their life they make sure they die with nothing, that's different. I'll probably make sure I die with nothing but my last giveaway will be on the day before I die, and I'll be rich until then.
So these are probably the three common things that come up. Okay.
Claus Lauter: Let's talk a little bit about entrepreneurship and getting started. So if you want to have a boring, comfortable and safe existence, you probably do not become an entrepreneur. And your motto is if you don't risk anything, you risk everything.
What kind of risks or how much risks should you take to get started to become a millionaire at the end of the day?
Rob Moore: Okay. Now, this really depends where you're at. Because I didn't take much risk when I started because I didn't have anything, if I'm fair with myself, I missed four years.
If I'm brutally honest with myself, I missed seven where I wasn't paying in enough pain and my back wasn't quite against that wall. So if anyone is like I was in December, 2005, where You're broke. Things are bad. You're at quite a low point. You're actually risking nothing because what's the worst that'll happen?
It doesn't work and you can go back and get a job. That's the worst that'll happen. However, if you're a lawyer on 300 grand a year, and you've got three kids and three cars and a big mortgage, your risk is higher. I was saying this on a podcast I did just before yours, Klaus. I said, sometimes, look, I'm an entrepreneur through and through.
And if I could Help the world become an entrepreneur. I probably would cause I prefer the lifestyle, it's not always the right time. And everyone says, Oh, you should start now. But actually, if you're a lawyer earning 300 grand in someone else's firm, and you want to set up your own firm, it's probably dumb to quit.
After listening to me, and it's probably start. It's probably wise to start a plan maybe have a goal in 12 or 24 months to launch your business if you've got a lot of dependents and overheads. So there's more than one way to work for yourself. Here's the thing, though, the more comfortable your life is.
The less risk you will take, and the more in pain you are, the more risk you will take. But here's the problem. Most people aren't good enough at tricking themselves into pain. They wait and wait and wait until... They get fired until they have a health scare and they can't work for a year until a loved one passes away But what you can trick yourself into creating pain like I like to feel shame sometimes Because shame is very motivating.
I don't like the feeling but I like what it makes me do I probably like the least nothingness, neutrality, apathy, yeah, well, whatever, that's dangerous because nothing happens when you're going, yeah, well, whatever. Things happen when you're really committed and excited, or you're really down and there's no choice.
But what you want to try and create and gamify yourself to create those. feelings within you, rather than wait for the world to do it for you. 100
Claus Lauter: percent agree. My experience is pretty much the same. People only change when the pain level is high enough. And you shouldn't wait until the pain becomes unbearable to change because then your brain and your mind is fogged and you probably will do this.
The wrong decision. So if the pain settles in, look for a way to change your existence or when you want to go, let's come back to, to make money, manage money and master money. Now, as you said in the beginning, there is no financial education in the school system. I'm not aware of anyone getting this, so you need to do it by life experience and having the right mentors.
What's the right approach to find a mentor to somebody who's trustworthy and to really have someone on your side or by your side. To start managing
Rob Moore: money and master money. So this is one of my favorite subjects I will be your humble student and I will listen to you if you've done what I want to do and you are where I want to be.
So you're more experienced in e commerce than me. I don't have my own online shop. For setting up my own online shop, I will listen to you. I will let you critique me. I will let you give me constructive, critical feedback, even if that can sometimes feel negative and damage my pride. And I will do what you tell me, not what I think.
Until such time as I overtake you. And I like to try and overtake my mentors because that's a nice challenge. But the problem is, in school, you're taught by broke teachers. In economics, the teacher is broke. My daughter has just, she's nine, and she's just started her own e commerce business selling bracelets.
She hand makes them. She made a hundred pounds in forty five minutes. What's that? A hundred and twenty five pounds an hour. I know a lot of people. All right, it's her first hour,, and I taught her that and I gave her a bit of guidance. You have to find someone who's where you want to be.
That's step one. Step two is you need to obsessively Gobble up everything you can of there. So let's just say, for example, I was that person of choice. I've written 18 books, money, life leverage. You go read or listen to them. I've done nearly a thousand episodes of disruptors. You go and get the back catalog and listen to them.
I Have a second channel called more money secrets. You go and consume all of that. I run live events. you come to the live events. And what you want to do is you want to stalk a few. Now, the problem, what a lot of people do is they follow every influencer and if that's overwhelming and what, if you follow every influencer, like for example, I'm friends with Grant Cardone.
I'm friends with Robert Kiyosaki. I don't know Dave Ramsey, but what Dave Ramsey says and what Robert Kiyosaki says is the opposite and they are both very successful, but they're just talking to a different type of client. Now Robert Kiyosaki is more me. Because I want to build assets, I don't need to worry about getting out of debt.
I want to be in a lot of debt good debt and by the way, you've got to do your research and check that the person that you're following is the real deal. You could do a company's house check. You can see how many books have. Written, you can go and read some of the reviews. You can ask a few people who know them.
know, one's perfect by the way. You'll find criticism on everyone, but you can do a breadth. Okay. So then once you've consumed all of their entry level content, books and free stuff, then you want to tap them up on their high level stuff, which is maybe you can get one to one mentoring with them or join one of their masterminds.
And I've invested about 1. 3 million. In training, education, mentoring, and masterminds for myself and my staff in the last sort of 15 years. Because the more you learn, the more you learn.
Claus Lauter: Yeah. I'm a big fan of lifelong learning. It never stops things change. And I'm getting upset when people give me the impression that I know it all because no one does.
When it comes to money and we saw things like EFT is coming up and crypto and all of these things. What do you think has been overhyped or underhyped in the financial
Rob Moore: sector? fiat currency has been overhyped, because in 1971, when Nixon took money off the gold standard, a one ounce Kruger round of gold was the same value as the money that could purchase it.
Now, the money that could purchase that one ounce of gold has gone down more than 85%. So a dollar in 71 is less than 15 cents now. But if gold was $50 back then, it's now over $2,000. So gold's gone continually up as has real estate as has the stock market paper money has virtually disappeared its value.
So one of the biggest scams is the fiat currency system. It is a ponzi scheme because if the government decide, oh, we're in 300 trillion of debt. Rather than pay that off, I just want to erode that debt, they could print 300 trillion dollars and pump it into the economy, and now all of a sudden, your dollar is worth less.
because there is more supply. But you've been taught to save your money, work for money. You should work for assets and you should invest your money. You should work for knowledge you'll work for money only because that's how you're paid. But as soon as you're paid in money, that's like going to set fire to itself.
So you've immediately got to invest. Invest it. fiat currency is ma majorly overhyped. I don't think that Bitcoin or cryptocurrencies are overhyped because I think they're the evolution of money. Cash was in the form of stones and chalks and shells. In prison it would be cigarette.
And then it evolved into real precious metals and then debased metals and then cotton derivative notes and then plastic polymer notes and then digital transactions. And so crypto is just the next evolution of money. So that's not overhyped. It's just the evolution of money. Money loves speed and it hates friction.
So anything that can make money move faster, money's likely to evolve into. I actually quite rate the stock market because the top 500 companies in America and the top 100 companies in the U in the UK, they're always going to outperform inflation. Because they're the best companies in the world, because they're spread over 500 companies, it's better than money being in one bank.
Because if one company goes bust out of the 500, you've lost a hundred, a five hundredth of your money. If you're, if the bank goes bust, you've lost it all. So the banking system is also overhyped., I interviewed Robert Kiyosaki this week, and he believes the pound is dead. America is dead. He believes the empire is falling
he believes this is an historical occurrence. It's a recurring historical theme. He believes that silver and gold and owning gold mines and real estate. That's the future.
Claus Lauter: Yeah. I'm seeing it on a day to day basis. Argentina right now has an inflation rate of 140%. So the prices are getting adjusted here every week.
And interesting enough, people are buying like crazy. And you mentioned it is because the salary or whatever they make. It's nothing worse next week. So basically the restaurants are pumping, the shops are full because people are transferring their money into goods or just trying to get something out of it.
I'm with you. I see this here really bad level before we come to the end of our coffee break today. Is there anything that you want to share with the listeners that we haven't covered yet?
Rob Moore: If there's one thing that comes to mind and if we did this tomorrow, it might be different, but what just comes to mind now that we haven't covered. is understanding how your emotions are linked to your financial decisions. Because generally, if people can't master their emotions, they'll generally never make or maintain money.
But if you're good at controlling your emotions, you're probably good at controlling your money. And the most obvious example is delayed gratification. Children. They'll take the sweet over the money because they can't delay the gratification, but some adults are still doing the same thing. They're spending the money because they're elated or depressed, and they're using the spending of money.
As therapy they even call it retail therapy. You get paid, you go shopping to feel good. So if you can master delaying your emotion and your gratification, i. e. save, invest, before you spend, pay yourself first, pay everyone else later, then you're going to build wealth. That's an example of the most obvious emotion, but generally extreme emotions erode wealth.
If you're elated, you might be like champagne for everyone. I'm celebrating. And you might end up spending 50 grand on champagne and you might regret it. And then if you're depressed, you might be spending money on pills and potions and addictions and isms, alcoholism, drug addiction to try and make yourself feel better.
Whereas if you're neutral, you are most logical and you'd be like, hmm, money. Invested goes up in value. Therefore I should invest this rather than spend it. I should not save. I should invest. I should try and buy assets that go up in value, or if they go down in value by the depreciation curve, don't buy a new car, don't buy a new house.
if anyone's watching or listening, have a think now, where are your emotions costing you money? And how can you manage that? So I'll give you an example. I am because I was an overweight kid and I had a lot of, , baggage around people pleasing and non conflict avoidance. And I just wanted to be noticed and loved for who I am.
When I wasn't, as soon as I started spending money, I would spend money to be noticed. I would buy vibrant clothes I would buy things I couldn't afford. I would always try and buy the best bike or the best car because I wanted other people to notice me and that's really expensive., I would say there's a part of that's still there, although I've...
So now what I'll do is I'll buy the thing used, or I'll buy the thing that will go up in value, or I'll buy the thing through the company so I can save the tap. So I'm still doing it. I'll buy watches and I love gold watches. But the gold watches I buy go up in value, not down. So I get to enjoy the watch.
Whereas I'd have bought one for five grand and it would have been worth two and a half grand in a year. And now I can buy one that's worth a hundred grand and it'll be worth, Half a million in 10 years so I chat. I didn't really change as a person. I just changed the behavior of those emotions. So people will spend money on what's most important to them.
So if you make investing and building a business. and long term wealth. If you make them important to you, you'll all of a sudden change where you spend the money. So yeah, that'd probably be the one thing I would add that we haven't yet covered.
Claus Lauter: Yeah, absolutely true. I think as an entrepreneur or as a inspiring entrepreneur, that's something you should keep in mind.
It's money and it's investing. It is a tool and as. The more neutral you're using it, the better at the end of the day, you will feel cool. Now, Rob, you have a ton of content. You have your YouTube channel, you have your podcast, you have books and so on. Where should people start getting into your
Rob Moore: content?
Okay, well, if you just look on Amazon or Audible, you'll find 18 of my books by just typing in Rob Moore. If you went on to podcast, you'll find my disruptor show and my money show, which between them, 1, 250 episodes. But actually I think the core hub to start is rob. team. So rob. team is my digital financial freedom platform to help people start and scale a business and make, manage and multiply money.
It has totaling almost 10, 000 members and it's got hundreds of hours of courses, resources, and masterclasses on the subject of money and business and social media. It's less than 22 pence a day. You can cancel anytime. There's no ongoing contract. You can try it. But because I've got nearly 10, 000 entrepreneurs already in there and I've got hundreds of hours of content going back years.
That's probably the best hub to start. And you just type in R O B dot T E A M rob. team. And then from there, if you want to specialize in starting a business or money or building a brand on social media, you can specialize after that. But I'd say that's the core hub rob. team.
Claus Lauter: Excellent. I will put the link in the show notes as for the podcast, you YouTube channel.
I'm listening to your YouTube channel quite frequently. So there's a ton of good content in there, even for someone who's in business for quite some time. Thanks so much for your time today. I think all listeners have to listen twice to this episode. There's so much good content and there are so many good golden nuggets in there.
And I hope to speak to you soon again.
Rob Moore: Thanks so much. Klaus, it's been a pleasure. Thank you.
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