In this episode, Dr. Forrest and Tim discuss the benefits of the High Speed Alliance, including the creation of passive income streams and finding something like “the best board of directors you could imagine.” Listen in to learn about the journey to Freedom and Legacy!
Books mentioned in this podcast
Quotes in this podcast
- Jim Rohn – “You are the average of the 5 people you spend the most time with”
- Dr. David Phelps – “Your network is your net worth”
The following is a transcript of the podcast audio.
TK: Dr. Bryant, How are you today?
FB: Hey I’m doing great Tim. Thanks for asking. How are you?
TK: I’m doing well. We are both here in the sunny state of Alabama today. Sunshine and birds singing and people cutting the grass.
FB: Yeah, absolutely. Gorgeous spring day.
TK: So you’re doing well. You just returned from a trip from Philadelphia, didn’t you?
FB: That’s right. I was at a mastermind meeting for one of my good friends up there. Who just started a mastermind very similar to what we’re gonna be doing here.
TK: Well, very good. Let’s talk about what we’re doing here. This is the high speed podcast-the high speed alliance. Why don’t you start. This is our very first show. Start by just telling us what is the high speed alliance?
FB: Let’s start with, who it’s for. If you’ll allow me. Let’s start with who needs to be listening to this podcast. And who needs to be paying attention. The High Speed Podcast for the High Speed Alliance is focused towards dentists and doctors and small business owners. Those are the people that we’re trying to reach out to. And we are going to team them up with some of the brightest professionals from around the country in every industry. We’re gonna have real estate professionals, stock market experts, business and marketing coaches, dental gurus, medical gurus. We’re gonna have some of the brightest people in every industry in the same room and on some of these podcasts as we go along. And for a small business CEO, it’s gonna be similar to the best board of directors you could imagine.
TK: I like that point because I’m an entrepreneur. You’re a younger entrepreneur than me but I always found that it was nice to have a board of directors or a mastermind group. Someone to bounce ideas off of. To help you make decisions. It’s really helpful having other brands, isn’t it?
FB: It absolutely is. Sometimes, especially for a lot of doctors and dentists they feel like they operate in a vacuum. They don’t have a lot interaction with other doctors unless they’re in a group practice. A lot of times a lot of those business decisions they have to make on their own. A lot of times they don’t have a business background. They don’t have anybody to talk to. A lot of time they have to fumble along and then make a lot of mistakes along the way. So that’s one thing we wanna do. We wanna take doctors in every level. Of Course the younger one’s we can sure show them the way not to make a lot of mistakes. But for the middle age and even closer to retirement, some of those things we can really share and make up some lost ground really quickly by some of the techniques that we’re gonna be talking about.
TK: You can teach old dogs new tricks. It never is too late for someone to learn how to make more money and hold on to it and multiply, right?
FB: Absolutely, well most of our members they’ve worked so hard for that money and you just hate to lose that. And that happened, it happens all the time in a lot of doctors that I’ve talked with. A lot of them have lost big chunks and so sometimes I’m talking multi-million dollars mistakes. So we want to minimize those and we want to help our members to get into a very solid, safe types of investments.
TK: Let’s talk a little bit more about that.
TK: Because we talk about who should be a member of the high speed alliance? Let’s talk about the alliance itself gives us kind of an overview of what it is and some of the benefits and what members can gain.
FB: Sure. Absolutely. So, really what we do we start off is we start off with the business. Most of our members have their own business. So we want to give them guidance to maximize the business that they’re already in. That’s always the number one. Let’s see if we can maximize, strategize, make sure those things working as efficiently as possible. And that’s generating the highest income for the CEO or for the doctor. Return on investment is just, that’s so far down the road if the business is not operating efficiently. And we don’t have that active income coming in to the doctor. You can’t even talk about investment returns until we make sure that piece of the puzzle is taken care of. So once we look at that. Then we look at that income that’s flowing to the doctor and to the personal checkbook. And we go in and will spend some time into tax and tax efficiency. Making sure that we’re going in to the right environment. There’s a lot of different environments. There’s a lot of confusion out there with IRA’s, retirement plans. There’s a lot of things that we’ll talk about that most doctors just don’t even know. It’s unbelievable. When I started going down this road a few years ago. Some of the things I was learning, “Why didn’t somebody tell me that?” But there’s so much out there that most people just don’t even know. So once we kind of figure out what that tax efficiency is. And which environments we need to be playing in a lot of times that’s multiple environments. Then we start looking at a creating a passive income money machine. So we want to generate multiple streams of revenue, multiple streams of passive income coming towards the doctor. And then we can funnel those things so that those streams of revenues some of those are going towards retirement. We can focus those towards education and for college savings. And then also our big two buzz words are freedom and legacy. Those are really the two things we were looking at. We want the CEO to have the freedom through their investments to know that they can have the life that they want to have. That they don’t have to go to work and do the things that they’re doing because they have to. They get to do those things because they want to do that and they don’t have to do it for the money. So that’s a really big thing for us. So, doctors and CEO’s generally have an incredible wealth building opportunity because a lot of times they are high-income earners but they’re also very bankable. So, they are able to go and borrow money and they’re able to leverage that education that they’ve got. So, through that leverage and high income they can leverage that into a high net worth. So, just sadly a lot of doctors and CEO’s just really don’t understand that. And so a lot of the money just gets dumped into the checking account and then it just gets burned up. And so you have to tell those dollars where to go. There’s a law of rising expenses which basically means as the income goes up so go the expenses. And so that’s one of things we look at as far as capping those expenses to make sure that the money is working for us and generating more money versus just getting spent. So we’re gonna flip that mentality around. We got to the tell the dollarss what exactly what we want them to do. Tell the dollars exactly what we want them to do. And this podcast, will just supporting high speed alliance. We’re gonna be releasing weekly podcast. We’re gonna be releasing some good information with some market leaders. And so our listeners, I hope that you’ll just tune in and stick with us. And we’re gonna give information about events coming up and we’re just gonna have some really awesome people coming on here. And I’m just really excited to share a lot that any information.
TK: You know one thing that really appeals to me is what you have planned for high speed alliance is not only education but there’s a lot of mentoring and that sort of thing. And you touched on this, a lot of young guys and gals coming out of med school or dental school they have that high income potential. They have that bankability but they do not have the either entrepreneurial sense or they don’t know how to manage that money. So the money comes in and it just you know, “I’ve got my degree, I’m gonna stop buy at the mercedes dealer. And I’m gonna go get me a nice, big house. ” But at the end of the day, you and I both know a lot of medical professionals who have made a lot of money but have failed to hang on to.
FB: Exactly. And a lot of doctors and CEOs they just really, they have this entitled mindset. I’m a doctor, and you know the doctor down the street got a big house, so I need a big house. He got a brand new car, so I gotta get a new car. They’re just keeping up on the joneses. And they have this perception which is not reality that they have to live this lifestyle. And a lot of times in today’s environment, a lot of these doctors get out of medical or dental school with a tremendous amount of debt. And they’re going into a practice where maybe the income is not exactly. Where they want it to be and they just get in this downward spiral. Where they get this huge debt, they have this huge lifestyle. And then, just not sending money ahead to save up for retirement and for college and for freedom and legacy. It’s just not happening and so they up struggling. And they struggle and they struggle and they struggle. And that’s one thing we want to break them out of that mindset and we want to put them on the right path. I wanna go back to the one thing you mentioned earlier.
FB: The format of the high speed alliance we’ll have 4 meetings a year. Every good, we are on the mastermind format and so every good mastermind has 3 things. And this is really important. This is one thing. One is the education and you mentioned that. The education is gonna be huge part of that because we’re gonna be bringing topics and subjects that a lot of these doctors and CEOs they don’t have a business backgrounds and even people who do have a business background that know a lot about of wall street investing. They really don’t know these techniques. So this is, a lot of these gonna be stuff that they’ve never heard before. So there’s a lot of education that goes on there. And there’s also the networking that I alluded to earlier. We’ll have some people at the top of their game from all different industries that are gonna be in the same room and so you get a chance to talk with attorneys, and accountants and real estate pro’s and people who know about stock market. And know about cash value life insurance and know about precious metals and other doctors. If you need to talk about you know what’s going on medically or dentally or marketing or business or hiring or firing. I mean all of those things we’re just gonna be touching on so many different subjects. But the third thing we got the education, we got the networking and then the third thing is accountability you could have the greatest plans in the whole world but if you don’t follow through on those plans nothing changes. So one thing we do through in between the quarterly meetings we’ll have a weekly contacts and monthly contacts. We actually say, “alright, you said you gotta do this so how’s that plan coming along.” So, we have that accountability through the coaching program to make sure that you’ve got these plans and we’re gonna help you. We’re not gonna beat you up if you don’t do it. Because we know that everybody is super busy but we’re gonna hold your hand and say, “alright, you said this is important to you and we made this plan and we got to follow through these steps and you know remember why you’re doing this. You’re doing this for your family, you’re doing this so you don’t to work so hard, you’re doing this so you can have your freedom and your legacy.” So that’s a huge huge point.
TK: But you know, you making a point. Because, a lot of times ofcourse, I’ve never been to medical profession. I’m a software entrepreneur by trade. And you know, it’s lonely at the top or the middle or wherever you are. And I think that’s gonna be the same in your profession either dental or medical or what have you. You are the guy or the gal that’s really, you know. You’re the one out there killing and dragging it at home. And it can get very lonely. And I think having someone that holds you accountable in a positive manner is gonna be very helpful.
FB: Sure, you’re the top of the pyramid and everybody that works for you is typically below you. And you can’t go to them for advice and a lot of times you feel this competition. If there’s another guy just like you down the road. You don’t wanna go share you woes and your challenges or your opportunities with them. Because they might take advantage of it or you know steal your marketing or whatever. There’s a lot of things, that comes back to one thing a lot of people fall into is the mindset of scarcity. That resources are limited, that there’s not enough deals, there’s not enough patients, there’s not enough money out there. That’s one thing I truly believe in and that’s one thing that we will preach is the mindset of abundance. There’s plenty of money, there’s plenty of deals, there’s plenty of patients out there, there’s plenty out there. So you don’t have to worry about them so overprotective of this one little thing. It’s a mindset of plenty.
TK: Right. I think it’s Jim Rohn is the one who said, “you are the average of the 5 people that you hang out with.”
FB: Oh, absolutely.
TK: And if you are not hanging out with successful, smart, intelligent people. You’re gonna end up like me. So.
FB: I totally believe that. And one of our mantras is, your network is your networth. So, the people that you’re really hang out with. And like Jim Rohn said. The 5 people that you really hang out with. You’ve gotta be like those 5 people. So you know, you gotta pick those 5 people pretty carefully. And so, we just invite more people to listen. And if you’re interested in coming to an event like this. We’re we got some high level, some eagles in the room. There’s gonna be some amazing people out there.
TK: Right. We know, we’ve talked about the high speed alliance. I wanna talk a little bit about you. Because your story really epitomizes the alliance. Tell us about you.
FB: Well, it’s a short podcast so I’ll try to be quick. I’m a dentist by trade. I’ve practiced for 20 years. I started off as an employee and grew the business. We grew 500% over certain period of years. We went from one office to 3 offices. And had a lots of doctors and lots of providers and it was really successful. I had some health issues about 6 years ago and I wasn’t able to practicing dentistry so I knew I was gonna have to. I could sit at home and would try to figure out something else to do. So I went into financial planning. I did financial planning. As the financial advisor for a few years. I was a securities licensed and help high networth individuals with their finances. To how to build their finances and also how to protect them. So, I’ve got a lot of experience and then I’ve also been a real estate investor for about 20 years. I started off doing it differently than I do it today. I started off being a speculative investor. And some of those things worked out and some of them don’t. So I certainly got some got hit over the head a few times. And that’s how you learn. And I want the people that come our group to realize that it’s a safe place that we believe in doing due diligence on projects and we believe in doing due diligence on the people that actually come there. So, most of the people that are gonna be in that room I’ve worked with personally or I have a business relationship with them. They’re vetted. And, just were not going to go into risky types of investments. So, most investments we do today are for passive income. We look for cashflow. We’re not looking for to knock it out at the park. We’re not looking for big speculative investments. We’re safe alot of the real estate stuff that we do is in fly over states in middle of America. We’re buying rental properties and you know there some more exotic things that we do but that’s a lot of times the place that we start helping people get a portfolio of properties with good management, with good teams and good people that we worked with the know. That’s one of the places that we looked at. So anyway, high speed alliance is kind of the culmination of my dental experience, my experience as financial advisor and also as a real estate investor and then plus the contacts that I’ve made over 20 something year of career. And so I’m just excited to, you know one thing I do wanna say about that. I’m not a guru. I don’t know all the answers and that’s why I love this model. I’m basically a facilitator. I know a lot about a lot of different subjects. I read a lot, I watch t.v., I do a lot of self-education and professional education. I think for our members, I think your investments and yourself is one of the best investment that you can make. Invest in yourself, invest in your business and then of course, you know -invest in your time. And that’s another thing that we’re really gonna preach. Don’t know how much, I think we’re gonna getting in towards the end of the time. But as far as legacy and really diving into what’s really important for the future and really diving into how much and where we want to invest that time with family? And we want to think about the future. And we want to think about what’s important to you? What causes that are important to you? What do you wanna give back to your community? What do you wanna give back for eternity and for those that are left behind? And so, we’re going to do a lot of depth on that subject to figure out. We get one life to live and so this is it. You don’t get another one and so you know one day we’re all gonna be called home and we’ll have to answer for what we did here. And so, I wanna be a good steward of the time that I’ve got here and so I wanna help others do the same.
TK: You know I really like that word legacy. Because so many people living here and now. Without really worrying or regard about the future. Especially if they’ve got kids or grand kids. It’s what can I ask from me right now? And what can I buy right now? You know, I think a lot of people just forget about the legacy aspect of accumulating and managing wealth.
FB: Absolutely. I totally agree. Totally agree. That doesn’t happen by accident. Legacy just doesn’t happen by accident. Because we’re all so busy. And, well it can happen by accident but it may not be the legacy that you want to leave behind. So sometimes legacy is not always a good word. Sometimes it can be a bad word if you mis-managed or if you just ignore it. If you just are just cruising along and you don’t pay attention to the family to the causes. What you stand for? Why do you do the things you do everyday? If you ignore those things and you don’t check-up every now and then to see. You know, what’s important to me? What road am I on? and Am I gonna get there? So, those things are critically important. So we just wanna, you know a lot of times that I just kinda get to push to the background but unless bring it. Let it bubble up and spend some time meditating on that. Thinking about what you really wanna do and what you stand for, it’s not just gonna happen.
TK: I think you just came up with the title of our first book-Intentional Legacy.
FB: Oh, well.
TK: There you go. I bet. Do you have a book with that title?
FB: Hang on a second.
TK: What are the odds?
FB: I wish I could take credit for this. But I’ll give a shoutout to David McAlvany (link https://davidmcalvany.com/book/) for this incredible book Intentional Legacy that I’m holding in my hand right here. I’ve read one cover to cover and I need to read it again.
TK: You know what I think I have that book. That’s probably at the back of my mind where that came from. What a great title for a book. Well, let’s talk a little bit We’ve got about. We’ve got a few minutes left. We gonna talk a little bit about this podcast itself. How often we’re going to do this? Sometimes I’ll be here. Sometimes it’ll just be you. But talk about the frequency of the podcast, the newsletter, the quarterly events.
FB: Sure, sure. Thanks. Our attempt is to send out a podcast every week. That’s the plan. We’re gonna send out newsletter probably monthly. And then we’re gonna have a quarterly meeting. So our first, If you’re listening and you wanna write this down. Our first event is gonna be July 29th and 30th in Huntsville, Alabama. And the final venue is not decided yet. But July 29th and 30th I would like. Well, I’m on this let me go ahead and throw out the website which is www.highspeedalliance.com. So if you go there you can some more information. Sign up for a newsletter. Make sure we got you in our contacts. I wanted to. We kinda talk a little bit about why? Also, if you’ll let me, I wanna talk about -why not? Why not do the high speed alliance? Because that was, that to me that’s almost as an important question is. Why we’re doing this is why not? And Luke 12:48 “To whom much is given, much is expected.” And I just truly feel very blessed in my life and I’ve learned a lot of things some of them you know it had always been a pretty ride. And you know I’ve gotten knocked down lots of times And I’ve always found a way to get back up. There were sometimes when I stayed down a little longer than I wanted to. But I always got backed up. And so, I really feel like through everything that I’ve been through I’ve really learned a lot and I’ve got a lot to share. And by putting this together, we’re just gonna really be able to help people. Our tag line is “Further faster together. So further faster further. We gotta help them get further than they think can go on their own. We’re gonna get there faster than they think they can get there. But we gotta do it together. There’s no way that you’re gonna be able to do. There’s no way I could be where I am now if I didn’t have some people that were helping me get here. So, you can’t run this journey. You can’t do it alone. And so I’m trying to create something where people can come and they can be a part of something really big. And they can really focus on their goals and they can achieve those.
TK: You know. I think that’s awesome. Who wouldn’t wanna be a part of that?
FB: Yeah. Exactly.
TK: Again. This is the debut show for the high speed podcast. It’s part of the high speed alliance. And , Dr. Bryant this has been fascinating. I think you are really kicking off something wonderful here. I hope that people take advantage of it. Tell us where we can go to learn more.
FB: Go to highspeedalliance.com and we’re gonna have lots of information there about upcoming events. Like I said, make sure that you sign up to be on our contact list because we’ll have lots of information. We’ll have blogs and we’ll let you know when podcast is coming out and the newsletter and events coming up. So we’ll just have all the information will be there. And if you would like to contact me directly my email is firstname.lastname@example.org. Shoot me an email. Love to hear from you.
TK: Alright Doc. It’s been a great show. Any parting words on your debut. I know this is your very first podcast and you have knocked it out of the park.
FB: Alright, alright.
TK: Any parting words?
FB: Thanks Tim. Yeah, I’ve got one. A good friend of mine said. We just talked about what we like to do. And really for us it’s about lifestyle. What we do it’s just that’s how we live. The business that we’re creating, this is what I do everyday. And so I just wanna share it with others and a good of friend of mine said that he likes to do 3 things everyday. He likes to do good, have fun and make money. And so, I like that and that’s one thing we’re trying to do. We’re trying to help people and do good. And make money and have fun. So you know, come with us!
CONTACT DR. BRYANT
Dr. Forrest Bryant
CEO, High Speed Alliance