David Roy Newby is the Owner and Manager of Legacy Builders, where he coaches successful entrepreneurs on how to maximize their legacy with their family, business, and charity work. His book, Beyond Billions, wields the wisdom of the ancient King Solomon to help business leaders create a legacy of multi-generational wealth and success. In addition to his coaching work, David is also the Founder of Solomon Wisdom Society (SWS), the most exclusive club for billionaires globally.
Here’s a glimpse of what you’ll learn:
- How David Roy Newby’s biggest weakness ultimately became his greatest superpower
- The skill set that is foundational to creating a long-lasting legacy
- David discusses the shocking long-term failure rate that most billionaires face
- The discovery that motivated David to create the first mastermind for billionaires
- David’s tips for engaging with thought leaders who are impressive—and intimidating
- The two biggest risk factors to becoming a millionaire or billionaire
- Letting go of “either/or” paradigms and replacing with “and” models
- How to balance being a billionaire with your role as a loving and attentive parent
- David’s secret to getting immediate response rates from billionaires: have fun and be unique!
- David shares his 31 Day Challenge
In this episode…
Do you want to use your business to build a legacy that lasts? According to legacy coach David Roy Newby, this is more challenging than it seems, even for the most successful entrepreneurs. Today’s billionaires have a 97% chance of losing all their wealth by their grandchildren’s generation. So, what is the key to establishing a long-lasting, multi-generational legacy of success?
As David says, it’s all about creating a culture of affirmation. After engaging with hundreds of billionaires and growing his own business from the ground up, David has discovered that the best investment is always family. By affirming your children and grandchildren, you can empower them to uphold and sustain your legacy of success for generations to come.
David Roy Newby, a renowned legacy coach, joins host Dan Kuschell in this episode of Growth to Freedom to talk about building a legacy that lasts. David shares how to avoid the long-term failure rate that most billionaires face, the importance of being yourself when making business connections, and his tips for balancing entrepreneurship with parenthood. Stay tuned!
Resources Mentioned in this episode
- Growth to Freedom with Dan Kuschell
- David Roy Newby on LinkedIn
- David Roy Newby on Facebook
- Legacy Builders
- Beyond Billions: Create a Legacy of Multi-Generational Success Modeling King Solomon’s Trillionaire Wisdom by David Roy Newby
- All the Money in the World by John Pearson
- Richistan: A Journey Through the American Wealth Boom and the Lives of the New Rich by Robert Frank
- The Billionaire Who Wasn’t: How Chuck Feeney Made and Gave Away a Fortune Without Anyone Knowing by Conor O’Clery
- No B.S. Direct Marketing: The Ultimate No Holds Barred Kick Butt Take No Prisoners Direct Marketing for Non-Direct Marketing Businesses by Dan Kennedy
- Schedule Your Breakthrough Strategy Call
- Free Mini Business Growth Toolkit
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Dan Kuschell 0:02
Welcome to growthtofreedom.com, the show that brings you inspiration, transformation and leadership. We’re helping you connect the dots, see the blind spots, and get unstuck. So you can go out and create more leads, more sales, more profitability. More importantly, so you can go out and have a bigger impact, have a bigger reach and make a bigger contribution. Is that what you want? Well, if that is what you want, then you are going to love today’s segment. Today’s session, today’s guest expert, why we’re talking about going beyond billions creating a legacy that lasts? Is that something that you’d want to know more about, from someone who’s actually interviewed and worked with over 130 billionaires, someone who is a legacy coach to some of the top entrepreneurs in the world that want to forge not just money opportunity, but a lasting legacy? Right? And by wielding some of the wisdom from the ages? What do I mean by ages, the wisdom of King Solomon? In fact, I don’t know if you know the story. Did you know that King Solomon built a $4 trillion fortune through his enterprises? Right. So our guest expert, David Roy Newby is an expert at being able to share insights from some of the top experts, billionaires, entrepreneurs, and what he’s learned in the wisdom of King Solomon. He’s a popular speaker he shares and does share the stage with some of the top result leaders in the world royalty billionaires Robert Kiyosaki, David Green from Hobby Lobby, the Rockefellers and a whole lot more. Do you think he could share a thing or two with you about going beyond billions and creating a legacy that last? Well, I think so. And if you’re excited to learn some of it, then insight grab a pen right now, grab a piece of paper, be ready to jot down if you’re driving, guess what? pullover right now, if you’re on the treadmill, get off, go into the other room, grab a piece of paper, or come back to this episode. That’s another way you can do that. If you want to come back to this episode, you can do that at growthtofreedom.com/299 that’s growthtofreedom.com/299. If you never want to miss an episode, go to growthtofreedom.com/subscribe. So David, welcome. It’s great to have you here, man. How are you?
David Roy Newby 2:19
Thank you, Dan. It’s awesome to be here. I’m ready. I just missed the 300 I want to wear my Gladiator outfit. But I have my pen and paper. So I’m ready.
Dan Kuschell 2:28
You’re ready, you’re gonna take notes of your own stuff? Well, that’s I want to dive into David because you know, it’s not that often or common, that, you know, we’re able to, you know, connect with somebody who, you know, is interviewed work with top entrepreneurs. Over 130 billionaires, you wrote a book Beyond Billions, right about creating a legacy. So why did you Why Why are you so focused on this idea of beyond billions and creating a legacy that lasts especially in the times that we’re in right now with COVID? And more?
David Roy Newby 3:00
Yes, certainly I had the gift I didn’t think of as a gift when I was younger of being descended from three forefathers, before me immediately that all murdered family members. So until about six years ago, I was definitely afraid of anyone finding out about how messed up my family was, and thinking less of me and I had a real fear of embarrassment. And as I release that, that fear, I started opening up with people, other mainly other business people about my personal development process, the journey and what I was going through. And that actually led to me getting invited to speak to several billionaires. And it was very fascinating how this idea that your biggest weakness could become your biggest superpower if you learn to remove the disempowering aspects of whatever it is from your past. So what I really found fascinating, Dan is talking to a lot of business owners. oftentimes there’s some kind of a childhood wound of rejection, or lack of affirmation that drives them to prove themselves to their parents that doubted to a teacher that doubted them to the world that doubted them. And I think that’s a great motivator. I think there can be even better motivators, because if you are staying if you stay in a hurt space your whole life emotionally, you wish you become a multibillionaire. I’ve talked to billionaires who have these challenges. You cannot give your kids what you don’t have. So if you never have fullness in your own heart, and you never lead your team from love, you can leave from fear or love, right, the whole carrot and the stick right? Yeah, both both are effective both have their purpose. I think it’s better in general to lead from love first the carrot and use the stick when necessary. This is coming from a guy who got five spankings a day as a kid I was very strong willed. So I just found that if you learn to have fullness and lead from a place of love, when now you can teach that to your kids, and I think that skill set is foundational creating a culture affirmation is foundational to creating a legacy that lives beyond your grandkids because the stats are just horrible Why Why did I even strategically go start talking to a lot more billionaires number one other people listen to you it’s just smart marketing right? If you if you if you help billionaires and you study what do I have to offer a billionaire right the wisdom of a trillionaire, so I help billionaires access King Solomon’s wisdom very strategically with in their business. But the other thing is, that’s criminal what the failure stats are. Since the 80s, Merrill Lynch, all the big UBS all the big banks internationally have been serving their their wealthiest clients. I know one guy he works with, like 120 billionaires at UBS. 90. Within one generation, however, how much when you leave your kids? Okay, the Giving Pledge members talk about this, um, you know, how much money should we give our kids so that we don’t ruin them? So that they’re not destitute? But they’re not the rich version of welfare queens or kings right? This is a question they’re asking each other? Well, within one generation, no matter how much money you leave your kids, what do you leave on 5 million, or 5 billion, 75.5% of them have lost that money, your grandkids, 92.5% of them blow whatever is left, which usually is not that much. So to me, it’s criminal. And for most billionaires, the failure rate is even higher, it’s more like 97%, with the money on with the grandkids. And so to me, it’s just crazy that you could literally right now someone listening to this, you could build a business bigger than Jeff Bezos or Bill Gates. And by time your grandkids are done with it, it’s all gone. There’s nothing I mean, look at Vanderbilt use the most famous example. He was the Bill Gates of his era in the 1860s, and 70s. All we have to show for his wealth today is two things, we have the Biltmore, the biggest mansion built on a national North Carolina and Vanderbilt University. That is all we have to show for that much wealth. by tying his great grandkids came along there was not a single millionaire amongst his heirs. To me, like, that’s not an exception. That is the rule. And to me, that’s criminal. So that’s why I focus like on family and not business, mainly, when I engage with billionaires or other successful millionaire business owners, it’s like that is the foundational key to creating a lasting legacy of success. And I just think, we put so much effort into building our business, it’s criminal, that we would know that there’s a crack in the foundation and, fix it. When you realize that now you can strategically address that challenge that any successful person you look up to deals with that same challenge. So that’s, that’s really like, what makes me tick. It’s family wounds and looking at what how do I fix this, I go to one of the highest wisdom possible.Your biggest weakness could become your biggest superpower if you learn to remove the disempowering aspects. - David Roy Newby Click To Tweet
Dan Kuschell 7:44
And as you’re watching or listening right now, like what’s popping up for you, you know, what childhood wounds, right, or damage that you may be still carrying, that might be holding you back from being whole? Right? Not only as a human being, but also being able to serve your business to serve your community to serve your family to serve your kids. Right? And like, what would happen for you, if you were able to really number one, get clarity around those wounds? And then go, you know, what, what if I just what if you just let go of that past and step in to today your future? and step into your best self and be better today than you were yesterday? Like, what would happen? Right? And then on top of that, what could you learn from what David just shared on the idea of like, most millionaires and billionaires, the generational wealth idea is dissipated. Now, you might be wondering, Well, what, what can you do different? And we’re gonna get to that through the course of our conversation today. So you’re gonna want to stick around, grab a pen and paper, you’re gonna want to stick around to understand, like, what do billionaires do? That’s different and unique to those who aren’t. Right? Like, what are they doing differently? Like, I don’t know if you’re wondering that. But I remember as a kid, I grew up in the inner city of Detroit. I wondered like, what are they doing different than my dad, who’s you know, working his tail off a couple jobs, my mom working, it’s a You, you, you probably know a story like that don’t use you’re watching or listening. Right? You have a version of this? What do they do different? Would you like to know? Well, when we come back, we’re going to take a deeper dive with David, where he’s going to reveal that he’s going to talk about, you know, how does he meet and get to connect and speak with hundreds of billionaires, right, we’re going to talk about how your childhood can play this role and what you can do about it. Starting today, we’re going to talk about how to avoid the number one failure mistake that most people who are going for wealth or building wealth or have created wealth, deal with and it’s real. We’re going to help you avoid that and a whole lot more. Right after this with David Wright Newby on growthtofreedom.com. Thanks for listening to this episode of growthtofreedom.com. Are you struggling to get a steady flow of new clients every day? Or maybe hit a plateau or hit a wall and growing your business? Well, let’s help you solve this problem today. Let’s review your business and have a conversation. You can do that for free today at breakthroughstrategycall.com, that’s breakthroughstrategycall.com. In addition, if you’re looking for a simple way to implement some of what we’ve been talking about in today’s episode, I want to encourage you to get our free small business toolkit, you can get that at activate.breakthrough3x.com, that’s activate.breakthrough3x.com. If you’d like access to the special resources and all the show notes for this special episode, make sure to visit growthtofreedom.com. Welcome back to growthtofreedom.com. Now, David, I just have to ask you because again, like you know, you’ve meet connected spoken, you have done all these amazing, fascinating things with billionaires, right? Like, how have you met all of these billionaires? Like what? And as importantly, what can we learn from what you are doing that we could go on and not be maybe looking at them as like they’re on this mountain of untouchables? Right? But rather they’re human beings with insecurities, fears, challenges, you know, things that they struggle with, too, and how do you meet them where they’re at? Talk to talk to us about that?
David Roy Newby 11:27
Yeah, certainly, I’m the biggest foundational step for me, the first step down was realizing what you just said, they’re human beings. They put on their pants the same way I do. They have 24 hours in a day just like I do. And so when I realized that I’ve always liked studying about billionaires, I actually remember the first time I thought of getting a hold of a billionaire was in 2007, on a business trip, a trade mission to the Philippines, my wife home country that I was a missionary in as a child. And I was at the fanciest Hotel in Manila. And we had just left this big meeting with like the president some other big, you know, some of the biggest business people in the country. I think there are one or two billionaires in the room. And the thought occurred to me because Solomon talks a lot about masterminding like, there’s a way that seems right to a man, but it ends to death, ends in death. But in a multitude of counselors, victory is a short in a multitude of counselors, wisdom is found. And I’m like, wow, okay. And I had met all these people doing great, great things. These are all Philippine American business people that have made multi millions in the US, and we’re looking to do business and help support the Philippines economy doing trade with with Filipino companies. And it just jumped out to me like, these guys would get so much better results if they would collaborate with each other because a lot of them were, were sponsoring kids and paying their tuition like private scholarships. They were doing feeding programs for the homeless, they were building houses, they’re doing all this great nonprofit work. They’re all doing it on their own. And I’m like, Man, these guys would do so much better if they mastermind you together. And so then I asked the question, because I’m pretty, pretty extreme. I was like, well, I wonder how many mastermind groups exist in the world for billionaires. So then I did three years of research found out at that time, there were no mastermind groups, and there was a billionaires that just really surprised me. So over the next few years, I just had a lot of research I have about every book by written by a modern day living billionaire. And a few books about billionaires that I’ve read, I did a lot of market research, what makes them tick, the book, Richistan is great for research, as well as All The Money in the World. Those two books, I highly recommend if you want to go deeper on the psychographics of what makes billionaires tick. So I did that research. It was during that period.
Dan Kuschell 13:38
By the way, can you repeat the names of those two books again?
David Roy Newby 13:40
Sure. All The Money in the World? Yep. I heard about that one from Dan Kennedy. And the other one I found myself it’s called the Richistan. Yeah, it’s like Afghanistan, but Richistan. It’s about this population of people about the size of the population of Afghanistan, that are all 100,000,002 billionaires, which I think it’s only like, 180 200, no, no, Afghanistan’s around a million people. 100 million plus, I think there’s around about a million people total globally. So it was really interesting to me that I’m studying these two books. One of the biggest keys I saw about how billionaires think differently than us that is they see the world as a proving ground, and most multimillionaires see the world as a playground. So it’s really important to realize that they think global impact as part of why I love being on your show is then you’re not a billionaire yet. But you I’m speaking that into your future. I said that yet part, but you’re very focused on global impact. How can I make the biggest impact possible? I think the Giving Pledge that Bill Gates and Warren Buffett created, by the way inspired by Chuck Feeney, who I read a book about him, right when the Giving Pledge was created. That book is called the billionaire who wasn’t and he was actually listed as like the 14th richest person on earth. The world when Forbes first came out with a rich list, and that they didn’t, he’s the founder of duty free shops internationally. What people don’t realize is he had already put 90% of his wealth into his foundation. And it wasn’t felt like the mid late 90s that Forbes caught on and figured out that he had created this foundation. He was so good at keeping a hush hush, everyone you gave money to He’s like, you can’t tell anyone. But it was just really empowering for me, then while I’m doing all this research and starting to think, well, I maybe I should create a mastermind for billionaires because no one’s created one, you know, and Bill Gates and Warren Buffett created the Giving Pledge. During that period, I was doing my market research. And that was a great proof of concept to me. That Wow, okay, I’m on the same page with with Bill Gates and Warren Buffett, like, how can we make a bigger impact, you know, this, this failure rate is not good, and Chuck Feeney was their inspiration to create the Giving Pledge. So, you know, just at that point, I did worry about a few more of these years of market research and a lot of work on my own thinking. And then I basically put together my own mastermind for billionaires. So I had to do a lot of personal development work to work on my own self worth. Because everything I did in business up until 2012, I was to prove my worth to my stepdad who told me when to adopt me when I was seven, and my birth father, who was not listed on my birth certificate. So for me the biggest crack in my foundation, you know, psychologically was thinking, I’m rejected, I’m not good enough, I have to prove myself. And so the first few billionaires that I talked to, I was crazy nervous, I wanted them to approve of me, I wanted them to like me, as I released that it just became to be at peace with myself. And I encourage you to do this as well. really be aware, whenever you’re around someone that that you look up to that impresses you, what’s going on for you emotionally, what are you feeling nervous, if you feel the tightness in your chest, like becoming aware of your state is so empowering, because, you know, then you can, you can go deeper on that. And there’s so many things you can do, you can do the Wim Hof breathing method, you can, you know, do certain kinds of stretches, tree leisure, relax your musculoskeletal system, just to really be able to place a piece. And then really, once you’re in a place of peace, then you can put all of your energy into serving the person and not caring about impressing them. And so, as I’ve talked to lots and lots of billionaires, I made that shift. And then the quality of my conversations went up with went up with them. A lot of you did ask how did I come to talk to them, I basically did two things. I was studying Dan Kennedy since oh four. And he talked a lot his book is sort of like my second Bible. I’m a Christian. So I read the Bible every day, nothing sacrilegious here, my second Bible is his book, no BS marketing to the affluent, I think dog eared and underlined about a third of that book and put notes for my billionaire club in there. And so that really helped me also our mutual friend, Joe Polish, he had a he came out with a checklist on how to very strategically approach a high high net worth person with an approach of adding an offer of adding value to what they care about. I think you share the story of how he engaged with Richard Branson very strategically. And I modeled that in that helped me with my first few billionaires I talked to, and I’ve done since then, shock and awe campaigns and mailed billionaires. And that’s how I got three of them to agree to 33 I mailed I got three to respond to me, and agreed to be interviewed for my latest book Beyond Billions. So after that, I got invited to speak at NASDAQ and Harvard Club and a few other places. And doing publicity for the book helped them. And then I got invited to overseas to speak to like a group of like, 120 billionaires at one time, which was very humbling. But at the same time talking about state Dan. It was interesting because I was a little bit nervous before I gave that presentation. I only get by really a seven minute presentation, I came out like an hour, hours. And um, when I got up there on stage, I was just like, so calm. And it was a very fascinating thing. But I was just so calm, it was like I channeled my energy into I’m here to serve these people. And I did that and there was no nervousness at all. So that’s what the biggest shift I’ve noticed is if you work on your state, and you’re strategic with marketing, whether it’s a multimillionaire and an actor or some other thought leader you look up to you want to engage with or a billionaire. Those two things really creative marketing, coming from a place of service and being in a calm state are the two keys to engaging I think with anybody.
Dan Kuschell 19:32
Now as you’re listening or watching right now. I mean, there’s so much to unpack here. But ideally, like what stands out for you, what’s one step that you can take here? Is it related to a calming state and in creating peace letting go of the past so you can step into a peaceful state today in the present in the moment? Is it focusing on strategic marketing? Right? Understanding what moves them is different than what moves you and focus on them and how you can go plant value seeds in their life to open these doors, these opportunities, these relationships, or maybe you connected with David and where he talked about, you know, his childhood and some of the insecurities he felt when he even just walked up on stage initially and then got into a state of peace and calm and how it made a difference, like, what action steps are you going to take now? David, there’s so much here now for someone who might be you know, hearing this or hearing the concept of, of playground versus proving ground? Like what’s your layman’s terms version of the of the two of those? Because if that’s such a powerful difference between billionaires and just say millionaires, or or below, like, how would you define those two things?
David Roy Newby 20:45
I think there are a couple main temptations that often get amplified the more success we have. Number one is pride. Proverbs all through proverbs Solomon talks a lot a lot a lot about pride about the the destructiveness and warnings about being prideful. He says, I pride comes before a fall, but humility comes before honor, the more successful we get, you hit your first million, your first 10 million, your first hundred million, your first billion, the temptation becomes easy to think I have it figured out. Once you start thinking that, oh, even if you really have any particular business skill set, it’s usually only a matter of time before that can turn into complacency. And that could turn into pride. And then you stop listening to counsel, you stop innovating, and your business is dead. That is definitely one of the factors in the 92 to 95% failure rate of wealthy families within one to two generations. Um, again, you know, the 95 is for billionaires 92 for millionaires. What’s interesting to me is the other big thing that a lot of people we all need to watch out for, is, is like, we should enjoy what we’re doing. But at the same time, we need to be diligent. Another one is Solomon’s teachings is that a lot of people are one or the other. They’re like Workaholics. They’re like I’ve talked to many, many multimillionaires who told me when I’m spending time with my family, I can’t stop thinking about my business. And I’m wondering, am I not productive my downside or something that’s happening, that’s going awry, that’s going wrong that I could, that I that I need to be taken care of. And the more you can build a B quadrant business using Kiyosaki’s language. And if your business has less of an S quadrant where it needs you to be there, that can help you. But the other type of other thing is when you build a really good B quadrant business and your business does run without you it can run for a year without you know, it can be easy to stop managing or managers and confirming that they’re doing everything with excellence and watching the people under them. Make sure that operationally everything is being done with excellence. Solomon says, keep close watch on the condition of your flocks. That’s basically your business right back then people were a lot of farmers keep close watch on the condition of your flocks for wealth is not secured for future generations. The Solomon warned about this major failure made the millionaires and billionaires have 3000 years ago in his writings. So I think that being pride in becoming complacent are the two biggest risk factors. So a lot of billionaires the one one of the games they play is like who can build the bigger yacht, the game isn’t played out because basically, the some of these guys have built 550, 600 foot yachts and there are very few docks in the world that are even big enough for them to dock at. Literally like it illegal in the same places as Carnival Cruise Lines. That’s sort of boring, right? Right. I do want to go to the Poconos or whatever fancy schmancy place you like to hang out, you like to go to some exotic islands in the Philippines like near other places. So um, you know that game was played out Gleaners definitely love competition. They love playing games, but they think, what can I prove to the world? Not Okay, now I’ve made 500 million or I’ve made 5 billion. Let me just go live the life of Riley and sit on the beach all day. I mean, Tony Robbins talks about it. And I remember hearing him say that, in that one of the success events He’s like, once you retire, and I did it myself and you like just chill out for 30, 90 days. Most people if you’re wired as an entrepreneur, after 30 or 90 days, you’re bored out of your mind and you want to do something productive. We are wired to produce to create, um, you know, so like the idea of just you know, playing a lot and be in a playground, you should have played your life. I like a 10 year old just a week ago, I thought my god daughters in Chicago had a backflip on a swing set. Um, I took gymnastics, I taught myself how to backflip out of a swing set, and I still do it and I’m 46 years old. Well, I love having play. I think we should have fun and play inside of our business. With that understanding. It’s good to think, what can I prove as possible to the world that’s a very powerful question to ask yourself and others of billionaires, they think that way.What can I prove as possible to the world?’ That's a very powerful question to ask yourself. - David Roy Newby Click To Tweet
Dan Kuschell 25:03
And as you’re listening, or you’re watching, what can you prove to the world? Right? And it starts with you, what can you prove to you? What can you prove to your, your family, your kids, your, your team, your community? Right? And then start to look, you know, how what would have to happen for you to have a bigger impact, a bigger reach, make a bigger contribution, more of a global type perspective? Right. Sometimes it’s just the thinking the power of a great, a great question. Now, speaking of, you know, billionaires, you know, let’s speak to the elephant in the room, you know, you just brought up family, you know, the mix of playfulness versus proof, proof-fullness, if there is such a word.
David Roy Newby 25:45
And, and it is now you just created it.
Dan Kuschell 25:47
Right here on the show, right? So, you know, and that whole idea of getting, you know, getting bored after selling a couple companies, you know, I like you like others that have, you know, built and exited some things, I found that to be absolutely true. Number one, I found myself bored to tears. And number two, I felt like something was missing, a purpose. I felt actually I went into some depression over it because just be truth be told, I didn’t have that next thing completely aligned and set up. And then I thought I was weird. I thought I was abnormal. And I stayed inside of myself, David. And lo and behold, when I finally had the courage to just step out and express and share with a couple other people, a handful of other people what I was going through, I found out it was very common. And, you know, with people who built grown and sold, you know, multi multiple million dollar companies. So, family, let’s talk about family, because I think the elephant in the room is that a lot of people have this perspective to be wealthy, millionaire or billionaire or, you know, or just success. I have to give up one to get the other. And what have you found in your discovery at this with, you know, the billionaires, especially not just billionaires money, but billionaires who, like we open the show up creating a legacy that last speak?
David Roy Newby 27:07
Yeah, certainly. So um, there’s two things I actually heard one billionaire say that any guy can be a great dad, but very few people will make the sacrifices necessary to become a billionaire. Now, on one hand, mathematically, he’s true. He’s right. There’s only 2200 official billionaires in the world about 2600 if you include the European and a few American and Asian billionaires, but guys, you know, are tied to the CCP that want to stay off the grid, right? I’m not picking on them. It’s just even even the Rockefellers like when the when the guy that I shared the stage with his grandfather just passed by five years ago, he was the last official billionaire in the Rockefeller family. But as our mutual friend Garrett Gunderson has said, that Family Stone has over $200 billion, it says all in trust, none of this is tied to individuals name anymore. And so it took them a long time to get off the grid of being on the billionaire illustrates the Forbes list. However, you know, no matter where you are, whether you’re a first generation person making the wealth, or you’re a fifth generation person looking to steward wealth, letting go of either or thinking is very powerful. We’re often taught you have to pick a or b, you can, you know, Danny, I don’t your dad called you, you’re a kid, Daddy, you can play football or baseball this afternoon, which do you want to pick? And life sort of trains us to think either or? I think that we always we should let go of either or paradigms and look for and paradigms. How can I, that guy was asking, How can I become a billionaire, I have to sacrifice. You do have to sacrifice but he came with a false conclusion, the limiting belief conclusion, he had to sacrifice his family to be a billionaire. Just as shifting to an and solution. And and mindset goes, how can I achieve all of my impact in success goals and fulfill my plans, and have a great family and have great health? And have fun while I’m doing it? You start asking that question. Now you get I mean, we have these amazing, beautiful minds. I studied neurosurgery for four years, when I was a kid, like from 12 to 16. And my mom’s anatomy teacher was in neurosurgery and I went to class with her. Dissected some human bodies. He saw my interest level, he gave me some of his surgical journals. So that in reading a Reader’s Digest article about Ben Carson, mean, our brains are so fascinating. We have so much brain power. There’s a Bible verse, I can do all things through Christ who strengthens me. I mean, we have so much creative capacity that we don’t utilize, and there’s that quote, you know, humans only use 10% of their brain power. I don’t like to focus so much on a percentage. But I like to say, use your brainpower to ask empowering questions. And so the either or paradigm is the number one thing you got to get out of like, I made it to building a great business, make all the impact I want to make and have an amazing family. That’s the first shift you need to make. Once you do that, then how do I build a great family I think for most guys Women are better at this. And this guy said, awesome, which is awesome for them, Dan, but for us, it’s extra work. We need to think of our, our, we compartmentalize, oftentimes a lot of men do mentally. And so we needed to think of our family as the number one most important division of our business. Now, you just think, okay, I’m building all these systems and all these, we invest hundreds of thousands and millions of dollars in our business to make it effective, effective, we need to take that same investment mindset and invest in our family. So once you number one, think of your family as the number one important division of your family within your business, then the question becomes, well, what systems do I build for this division? So I think like creating a culture of affirmation, where you continuously affirm your spouse, and your heirs, and your teammates, the other teammates on your business, for who they are in their skill sets, and and even their personality traits, when you affirm them for that, in addition to what they do, normally, we only affirm people, they do what we want, right? We give them the Attaboy, hey, you hit your sales targets, George, great job out of way, right. We’re oftentimes only get praise, when we do something, you start praising people in your life for who they are. It just, it just does amazing things for them. So let go of either or thinking, think and create a culture of affirmation. And the last thing is skills transfers. I’ve talked to lots of billionaires and multimillionaires whose kids want nothing to do with them, because their business was the favorite child. And oftentimes, when I’m talking to the heir, the business still is their favorite child. Hmm. When you start treating your children as important as your business, and you start having that and thinking and you incorporate and pass on your skill sets to your kids, then they will actually take the time to listen to you and learn from you. Because they know that you love them. It’s not because you know, you want them to do good to make to not make you look bad. You know, there’s a lot of limited thinking when you again, going back to the foundational wounds, whether you’re a billionaire in a boat, or a multi millionaire, or you’re working towards becoming a multi millionaire, if you’re walking wounded, if you’re in that wounded state, you’re not going to be able to if you’re not feeling affirmed yourself, you’re not able to give it to your kids or your spouse or your team members. So I think that create affirming people for who they are, is like so empowering and so that they listen to you. And when you do skills transfers, when you train them, they receive all of that, and just personal quick story. As I let go of a need to prove myself and I let go of that rejection identity, I actually did a rite of passage ceremony for each of my sons. So my older son, I did it for him at 16. My younger son, I did it for him at 14. And basically I said, I affirm them, I said you are a young man now, like I love you, I’m proud of you, you have all these traits, like that’s so awesome. I’m so honored to be your dad. And then I actually had to pick some other men to be like their Council of Advisors, these other men and I had them write letters to them, some of them actually chose to read their letters out loud to them and in front of other people. And we were just affirming them and empowering them. And the other thing I did was I encourage every listener to consider doing this, your daughter also in my book Beyond Billions I talked about strategically how to do a boy only ceremony or a girl only ceremony or a blended one. And how to use best practices of American Indian tribes that Maasai tribe in Africa, Jewish culture is the most common thing that most Americans are aware of apartments for about mitzvah to incorporate all those best practices and how you want to do your ceremony. But the other really big thing I did then is I told my son From now on, I no longer going to tell you do this, because I said so because I’m your Dad, I’m going to advise you as an older man advises younger men. And I really honored that commitment. So like my 14 year old, from 12 to 14, he was rebellious against me. In the last two years, he’s 16 now, he has rebelled against me, because I’m not the man, I’m not the one laying down the law. I just advise him and remind him of what the rules are when he doesn’t follow the house rules. Just like if you rent a house from somebody, you got to follow their house rules or they’ll evict you, right, or they’ll be a consequence. And this has been amazing. So I think whether you’re doing that with your teammates, or your kids, if you just talk to them. As often, as a boss, we can get into that parent do it because I said so or else I’m firing you. If we do it from a place of a more successful person or a person of higher authority, advising someone under our care, it’s an amazing shift in the relational dynamics. So that’s just a practical example of what I’ve experienced in my family as I shift in how I talk to my sons.Use your brainpower to ask empowering questions. - David Roy Newby Click To Tweet
Dan Kuschell 34:43
And as you’re listening or watching right and there’s so much wisdom here that David is sharing with you I hope you’re grasping and if you are missing piece, I’d encourage you to come back to this episode of growthtofreedom.com/299. Make sure that you get all of it because there’s Just so much here, you know, number one is you’ve let go of this either or thinking number two is that you build a culture of affirmation number three is that you look to have skills transference. And number four, is if you your kids, your family was walking around as walking wounded, or in this employee mindset, they’re going to rebel. And what would happen if you just shift to become the advisor, what would happen if you shift and you didn’t give your wife or your partner, your spouse or your kids leftovers any longer? What if they were a an important division of your company, whether you’re aspiring millionaire, you’re already a millionaire, whether you’re on your way to being a billionaire, or you’re a billionaire, these work, David’s proven they work, he can show you how they can work for you, too. Now, David, you know, some something that I’m fascinated by is, you know, you’re doing all kinds of cool stuff with these, you know, billionaires, as well as some of the top entrepreneurs in the world. Right, share some of the share some of the cool stuff that you do with with all these people, and how you help them.
David Roy Newby 36:07
Yeah, so one thing that’s really fine is, I always like to test different creative marketing. So I’m Joe folly, just calm you use the number one guy in the US for this, I highly recommend working with him, I oftentimes will send video cards, which is basically like one of those singing birthday cards, but instead of me open instead of someone singing to you, you’re actually watching them on video. There’s some other name for him, I call them video cards. I have mailed video cards to several billionaires that I know. And normally even when you know them, you’re looking at a three to six week a schedule a conversation with them, communication cycle, they’re just they’re just that busy. And so even if like their assistant calls you two days later, after getting the package, they’ll be like, Yeah, he’s available in six weeks. Like that’s a real common thing. Um, so I actually emailed one billionaire in Australia, a video card, and he emailed me like the day he got it. He was like, David, this is so awesome. Like, I’ve never got one of these things. Like, how in the world could I get one and thank you so much like, like, I’m getting like an immediate response rate, versus let’s talk in six weeks. So if you just be outlandish, and have fun in your business, then you can have amazing breakthrough results. So that’s one thing that I found very interesting as you would think, a billionaire, they’ve seen everything, they’ve done everything, it’s very hard to get them excited. And we all still have our inner kid our thing where like, we just love something, and, and so tap into that. So I really enjoy interacting with billionaires and just seeing what makes them tick. You know, other ones, sometimes I’ll mail them like candy from the decade that they were kids, you can get candy from the 50s. There’s companies that sell like 50s and 60s and a lot the average millionaire doesn’t become a billionaire until like 67 to 72 years old. The tech guys that are billionaires in the 30s and 40s. Huge, huge, huge exception to the rule. So it’s this need to enter into their world. By the way, I mean, I haven’t done this yet. But I’ll even let you know like, like, I’m planning. I’m going to talk I must. I’m not gonna say everything but like, I have so few people who know Elon Musk. And I’m planning to. And I’ve been to his headquarters, I actually went to Tesla headquarters two days before Christmas in 2011, like three months before the Model S came out. There were four people in the whole building. And there was not a security guy there. I was so tempted to go in this room that I do not enter because I knew a completed Model S was in there. But I was like No, I’m not going to get that Elon’s crap, Elon’s crap list and like never be able to buy a Tesla again. So I resisted that temptation. But he loves our mutual friend Steve Sims. He’s throwing all kinds of themed parties for Elon Musk, at least two. So he loves the movie Spaceballs. I’m going to email him like the Lord helmet helmet. And I’m not going to say all the stuff I’m going to put inside of it, I’ll keep that between me and him. But it’s like, if you just have fun, it take the time to find out what makes someone tick and what kind of stuff they loved as a kid. You can tap into that. So I always start with playfulness. And and I always talk to them about family. Most people want to talk to them about business. The reason I have a eight to 10% response rate from billionaires then it’s not because I’m anybody special I’m a frickin welfare kid. I’m my parents are from Rochester just north of you know downtown Detroit. My parents are from Metro Detroit. You know I’m a descendant from a bunch of abusive murderers like there’s there’s a lot of people in jail for assault and there’s drug abusers and alcoholics in my family. Like I’m not some Look at me as some special guy like, you know, bleeders. I want to talk to me because I’m for because I’m impressive on paper from those regards. Why did he is because I talked about family and I have fun and I don’t talk to about money, everybody else talks about money wants to do a deal. And I just show up differently. So I think that’s the coolest element anyone watching or listening to this can take from our interview, is be willing to show up differently and be yourself. And don’t think you need to be like other people, you know, the Me Too movement is good. It’ll raise the awareness that we need to treat women better. But don’t be Me Too like, show up like everybody else are late, Dan Kennedy calls it marketing and stuff. So he got me some cool things that I’m doing with some billionaires are like, helping them create plans for five generations of their families were like, their legacy will not die with the grandkids. And I call that financial success failure. You know, it’s sad to me that the more financially successful you become, the more likely your family is to fail. But that’s just the reality of what we’re dealing with. So my my bigger thing that I want to create is once the Solomon Wisdom society has 40 members, you know, we can, you know, I proven that like, hey, a bunch of these high profile, billionaires are talking even in the interviews about changes in their family. It’s like to shift what happens in the estate planning and succession planning industries, because most of the focus is on the business and the money. And the focus needs to be on the family. So like, that’s my bigger impact goal is to take what I prove with billionaires, and how a lot of service providers help their multimillionaire clients, help the family be empowered because of their wealth. Instead of disempowered long term. That’s my bigger why and what I’m working towards.Be willing to show up differently and be yourself, and don't think you need to be like other people. - David Roy Newby Click To Tweet
Dan Kuschell 41:32
And as you’re listening right now or watching right now, what can you learn from David, you know, be more playful, be different, be unique, right? Don’t have me to itis, right? Don’t get you know, marketing incest, right? You don’t you want to avoid all that. And you want to show up differently, and likely take an approach the personal approach, family side or other things, besides just doing a deal or the money sign right. Now, obviously, David, we’re just scratching. I mean, I wish we had hours to just go deeper and deeper and deeper into you know, your world and how you’re making an impact how you’re making a difference. If people want to connect with you. They want to learn more about how you can help them their business, their family. I mean, there’s so many layers of what you can do. Where can people connect with you and get in touch with you?
David Roy Newby 42:17
Well, yeah, I would say the first thing is they can read the book Beyond Billions. That really gives you the templates for a lot of what I’m serving billionaire. So just so you know, like the membership levels are 2.5, up to 3.5 million a year. For the billionaire fraternity I created nothing against women, it’s just a strictly a math thing. 95% of the billionaires who created their wealth are men. So that’s why I created a fraternity. I’m not being sexist here. I love. I love Sara Blakely, I love a lot of our female billionaire friends. That’s the first thing for literally for something that they’re investing in 2.5 or 3.5 million a year, for 20 bucks, you can get a lot of the same templates. Second of all, like I would say, people can follow me on Facebook or LinkedIn. I love family, food, and fun. So you know, a lot of times I’m posting pictures of food and stuff I’m doing with my family. So and I do talk about, you know, my fan page, I talk about business strategy, and how to empower your family also. So those are probably the best ways to get to follow me.
Dan Kuschell 43:17
So if you’re looking to empower you, your business, your family, I encourage you to get David’s book today. Right now we have a link on the page, you can go check it out, or go on Amazon, Beyond Billions, David Roy Newby, get the book, not only get it for you get it for those you care about, get it for your your friends, get it for your family, get it for your team, right, especially if you’ve got a team of your inner circle, make sure you get this book in their hands. Again, there’s a link on the page, you can come back to this episode of growthtofreedom.com/299, hit the link, get the book and then reach out to David on Facebook. Reach out on LinkedIn. You’d be amazed at how many of the top most successful people are available. If you just reach out the right way. Don’t come at it with a deal. Don’t say Oh, I got a thing you can promote. Right? I would encourage you to come at it from a person to person, a human being perspective and you’d be amazed at how many doors that will open up for you including the ability to connect with David so go check out his Facebook page while the link in the show notes here as well on the page. You’ll also have a link to LinkedIn you can just look up David. David Roy Newby, David Roy Newby, or David Newby. Either way, you can get connected with him on social media now David is we wind this down. What’s something I should have asked you that we didn’t get a chance to cover yet?
David Roy Newby 44:42
Um, I think you did an amazing job Dan, you’re, you’re like me, I saw you taking notes when I was saying stuff. So I appreciate your diligence sir. Um, I think we covered mainly the main basis. The only last thing I always encourage people to do is, um, you know, I want to give people a 31 day challenge. This is a guy that was mentoring me when I was in college when I was just like, I wanted to help people, but I was very just crazy, you know, a messed up young man. He gave me this challenge. Proverbs has 31 chapters, you know, a lot of times we read books about billionaires, we read Forbes, we do all these things, because we want to get success cues from them, Solomon was worth 4 trillion to put that wealth in perspective, that’s a combined net worth of over 80% of the world’s billionaires today, and one person. And the book of Proverbs is about how to have the most successful life possible in every area of health and, well, family. So I encourage you to do this 31 Day Challenge, whatever your day of the month, it is, for the next 31 days, read that chapter of Proverbs. So like on the first time you chapter one, and just do that for 31 days, you know, for the month, you’re doing it in only has 30 days at a day. Um, that book is very powerful. It is the most powerful recorded wisdom ever. And I created an app called Solomon Says so I actually took all of his teachings and arranged them by topic and sub sub topic because the average chapter covers sometimes like five or 10, or 15, topics sort of jumps around. And so I encourage everyone do that challenge because you know, if you, if you want to have the most success possible, that is the best recording of how to be successful, you know, ever written down. So I did, that’s the last thing I do people with.
Dan Kuschell 46:31
So as you’re listening, or you’re watching right now, I want to encourage you to take David’s challenge, read one chapter a day for the next 31 days, from Proverbs, one chapter a day, taking a few minutes each day, and watch how it transforms your life. And after 31 days to reach out to David and let him know the impact that that exercise had. And then if you want to, you know, engage in a conversation to learn how David can help you, your your business, your family, build a legacy that lasts number one, get his book Beyond Billions, either on audio or get it to read, get it in your hands, get it in those people that you care about their hands as well. And then reach out to David. Right, because you just might be amazed at how many different ways David can help you not only directly, but also indirectly the people he’s connected to the, you know, he runs in big circles, big councils of experts. In fact, we have somebody that we mutually know, which is how we met, which is Kevin Thompson, and Kevin has been a good friend for both of us. I’ve known Kevin for over 15 years. And he’s one of the most down to earth, humble people that you’ll ever meet. He runs a group in your community called tribe for leaders that David and I happen to connect and interact with, as well. And so Kevin got us connected and said, you know, you’ve got to have David on your show. And boy, was he right? There’s just so much wisdom here. So I encourage you get David’s book, take the 31 day challenge and apply what you’ve gotten here in today’s segment again, you can come back to this episode of growthtofreedom.com/299. That’s growthtofreedom.com/299. Or if you never want to miss an episode, go to growthtofreedom.com/subscribe. David, is we really winding this down. I’m fascinated by, you know, stories and you know, the backstories and such you’ve got two kids. Right? I’m curious, what do you hope to leave your kids? Right, with? As far as like this passing like you You spoke of this ceremony? Right? You know, as they get into their 20s and become community leaders, leaders at home, leaders in the community, what do you what are some of the values or attributes that you hope most get passed along for them from you?
David Roy Newby 49:00
I’m definitely affirmation is the number one thing, because I heard a lot of negative talk growing up. And so just really, I want to see them continue that. That habit of affirmation. And it’s pretty cool because my older son is 20. And he actually like invited me to go skateboarding with him and one of his friends in downtown Detroit. We’re right next to the ambassador bridge in southwest Detroit. And for those of you who are aware of the Detroit area, there was a school that my son’s a 20 year old, usually at that age, you’re not hanging out with your parents and it’s like, wow, okay, that is a fruit that’s a result of the shift and how we relate to each other. So I really want to see them continue creating that culture of affirmation and skills transfer and like my younger son is really interested in a movie. So like, I want to produce movies for him one day. I don’t want to provide them or he wants what he wants to do, but I’m introducing him to people I know in the movie industry. My older son is really into cars. We live like two miles from the Ford world headquarters. So he’s pursuing engineering and I’m just really excited to empower him to fulfill his dreams. And then have he and his brother both together, have things that we do together as a family, like impact things, I think it’s really important to empower your kids with their own interest. And don’t make them feel like they have to run the family business, you should always I want my kids to have the freedom to know that dad already has a succession plan for his business. And I have, there’s no pressure on me to take over it like, like, a lot of kids feel like my parents making me feel like I have to pick between what I’m passionate about and the family business. And that’s the number one gift I want to give them is that they can pursue their passions, do everything they want to do, and the businesses continue to make the impact that it’s going to make, and I that’s like one of the biggest gifts I want to give my sons.
Dan Kuschell 50:54
And there you have it, like you get the personal side, you get the glimpse at the family side. And you also get, you know, literally the wisdom of studying, you know, Solomon, a $4 trillion Empire, it’s not just about the money, it’s about leaving a legacy that lasts, if you want to leave a legacy that lasts, you want to start a legacy to build a legacy to last David’s got a lot of wisdom that he can share with you. Go get his book, take his 31 Day Challenge, then reach out to him and see where there’s some opportunities to connect and help each other. And I imagine that if you’re in his world, there’s probably a lot he can help you with. And ideally, you’re gonna bring some to the table, as well. But start, take the first step right now take the first step take action, ideally, I mean, he mentioned the notes, I have three and a half pages of notes here. Right? And, man, there’s so much to unpack, well, guess what, if you come back to this episode of growthtofreedom.com/299, you’ll actually see all the notes related that we took all the resources that David shared the action steps that he shared from, you know, treating your family as the number one division in your business, right from letting go of either or thinking moving towards a culture of affirmation to skills transference, he talked about, you know, realize that we’re all in some way impacted by being walking. He talked about theater in marketing, he talked about using video cards, having fun, he talked about so many different things. I hope you’ve gotten as much out of this as I have. And I encourage you, though, if you just bring it in and bring it in as entertainment, that’s one thing. And that’s one level of engagement and enjoyment. But on the other hand, like what would happen for you if you took what David shared with you, and you did take action and imagine just 31 days from now, taking him up on that challenge of just reading a few minutes a day for 31 days, and reading Proverbs. And then you got his book, and you got what he’s discovered, you know, literally working with hundreds of billionaires condensed down, you know, I don’t know, 10,000 hours multiplied by over 100 in a book that you have as a checklist to build your lasting legacy to create your legacy beyond billions. Like what would that be worth that? On top of that? What if you reached out to David after taking those first couple steps, and you’re able to develop a relationship with one of the coolest, coolest cats around? Right One of the coolest human beings you’ll ever meet? He’s so down to earth he’s so humble yet doing so many amazing things to impact more people like us like you like me, right? So I encourage you to take action with what you’ve learned what you’ve gotten here. Don’t just let it be entertainment. Here’s an action plan. Ideally, you’ll follow it so I encourage you if you have questions reach out to us. You can come back to this episode of growthtofreedom.com/299, that’s growthtofreedom.com/299. Never miss an episode you can go to growthtofreedom.com/subscribe, take action seize the day. We’ll see you next time on growthtofreedom.com. Thanks for listening to this episode of growthtofreedom.com. Are you struggling to get a steady flow of new clients every day? Or maybe hit a plateau or hit a wall and growing your business? Well, let’s help you solve this problem today. Let’s review your business and have a conversation. You do that for free today at breakthroughstrategycall.com. That’s breakthroughstrategycall.com. In addition, if you’re looking for a simple way to implement some of what we’ve been talking about in today’s episode, I want to encourage you to get our free small business toolkit. You can get that at activate.breakthrough3x.com, that’s activate.breakthrough3x.com. If you’d like access to the special resources and all the show notes for this special episode, make sure to visit growthtofreedom.com.