Kids, Business, Marriage – how do you do all the things? Get a glimpse during the last of this 3 part series on how to raise an entrepreneurial family!
On today’s super special episode, part three of three, Russell and his lovely wife, Collette are interviewed by Joshua and Ashley Latimer about being an entrepreneurial family. Here are the questions Russell and Collette answer in part three:
-- What ways do you teach your kids about entrepreneurship and finances?
-- What advice would you give a highly driven entrepreneurial family?
-- How important is it to have a like minded community?
So listen here to Russell and Collette as they answer these important questions.
I think sometimes you feel, I mean for sure you feel the pressure. It’s funny too because people are like, “how are you always happy?” because I’m happy when I’m clicking, “Hey! How’s it going guys!” and then it’s back down and you’re like back to the fight. You want to see what’s actually happening here, we’re really upset right now or whatever. But it’s interesting because I think a lot of times you feel like you have to keep that posture. Because the fascinating thing is the times that I don’t, the times I break posture and I’m more vulnerable with frustration or things like that, that’s when I feel like, that’s when people actually connect with me more.
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Hey everyone, this is Russell Brunson, welcome back to the
Marketing Secrets podcast. Are you guys pumped for today? This is
segment number 3 of 3 of my interview, of the interview with my
wife, Collette. If you haven’t yet, make sure you go to
Honorandfire.com, and opt into the Latimer’s and get their free
family checklist system that they posted. It’s a free family
checklist for entrepreneurial families. And it’s amazing.
What they’re doing is so cool, and I’m so grateful for this
interview and that they created a really safe spot for my wife to
be able to share her thoughts and her feelings. And I hope you guys
are loving her even 1/10th as much as I love her,
because she is such an amazing person, and I’m so grateful to have
her being able to share some of our experiences with you.
Alright with that said, we’re going to jump in right now to
segment number 3 of 3, and these are the last 3 questions they
asked us.
Question number 8: What ways do you teach your kids about
entrepreneurship and finances?
Question 9: What advice would you give a highly driven
entrepreneurial family?
And question 10: How important is it to have a like minded
community?
So those are the next questions. I hope you guys enjoyed the
series. If you have enjoyed it, please, please, please go to, again
take a screen shot on your phone or wherever you are, post it on
Facebook, Instagram, social media wherever you post, and please tag
me and tell me why you like this segment of this session. I’d love
to hear some of the thoughts and the feelings about why you guys
enjoyed this time with my wife. And maybe if you guys do, let us
know, maybe we’ll do this more often, have her come on and share
some more stuff.
So excited. With that said, let’s queue up the theme song and
we’ll jump into the exciting conclusion of my interview with the
Latimer family and my beautiful wife, Collette.
Ashley: How do you teach your children about entrepreneurship,
and what ways will this give them an unfair advantage in life?
Russell: I think …
Collette: go ahead.
Russell: One of the cool things that we did was a little, about
two years ago we had Caleb Maddox and Emily come out, two young
entrepreneurs, and spend the day with our kids, which was really
cool. They kind of talked to them about it, got them excited
about it. And then Caleb and his dad, Caleb’s dad told us that what
he did is he gave Caleb these success books and said, ‘I’ll pay you
$20 for every book you read.” And I thought that was the coolest
thing, so we started doing that with the kids.
Some kids are more money motivated than others, but man, they’ve
read tons of success books now on success. The Rich Dad Poor Dad
for Teenagers, Success Dogs, Dallin’s read both of my books which
is crazy. He’s like, ‘I don’t understand most of the things dad,
but I read them.”
Collette: Well and actually Aiden, he’s out, he’ll be 9 in
august, but he’s been putting little mp3 player plugs in his ears
and walking around and listening. So I think that’s cool.
Russell: Yeah, so that’s been big. We brought them to one Funnel
Hacking Live, but they were young and it was crazy and it was kind
of hard. But this year, I think you know this, we’re doing a new
event this summer specifically for kids so I can bring my kids to
it. So it’s going to be really fun to kind of get them into that
kind of thing. And then the other thing I really want to do, we
haven’t discussed this, but I had a friend, her name is Rae Perry,
used to run these home schooling programs, and she would do these
events where she would have the home schooled parents and kids
would come, they’d have speakers on each topic.
So one of them would talk stock market, one of them would real
estate, one would be internet marketing, one would be eBay, all
these different things. And everyone would sell their courses, and
then they’d have the kids each go and buy a course each event, and
that’d become their curriculum to learn. I’m going to learn about
stocks, and they’d go deep the next year on stocks, or on real
estate, or whatever their thing was.
So I kind of want to have our kids pick things like that in the
summer, in fact, this is actually something, I forgot about this,
we had this on our family night on Sunday. We’re trying to figure
out, Summer is coming soon and we don’t want the kids all summer on
their screens, right. So first we’re like, “We’re going to do a
screen free summer, no screens all summer.” They were all just
like, “Ahh.”
Collette: So was I.
Russell: Then Collette’s like, “Well what are we going to do
with them all day? You’re going to be at work, this sounds horrible
for everybody.” So okay, let’s rethink this. And then when we were
in Puerto Rico hanging out with Brendon Burchard he said something
really interesting. He said, because we were talking about social
media and one guy there was like, “I don’t do social media, it’s a
waste of time.” And Brendon’s like, “No, you don’t understand I’m
not a consumer of social media, I’m not consuming it, I’m producing
it. There’s a difference. As a producer I go and I produce
something and I’m done, and it’s helping other people. But I’m not
sitting there consuming other people’s things.”
And that was the aha with our kids. Right now they’re consumers,
they sit there and watch some stupid guy with blue hair play video
games for 4 hours, watching somebody else produce, they’re
consuming. And I was like, “I don’t want you guys being consumers.
You don’t value, the world is not better if you’re a consumer, you
need to be producers.” So we talked about, with them we talked
about starting a YouTube channel and then each of them gets their
own playlist. And we say, “Every morning wake up and…” Ellie’s our
daughter who’s obsessed with the craft channel. “Wake up, go watch
the craft channel, figure out what craft you want to make, then
drive to the store, buy the stuff, come back, have you and your
brothers film it, make the craft, then edit it. And you’re allowed
to use as much screen time as you want, as you’re producing. You’ve
produced a video that you published live, and now you’ve produced
something.”
So our whole thought is you can only use screen time during the
summer to produce, not to consume. And then I thought it would be
fun for them, there’s the email skill share, and all these
different sites. I’m like pick out a skill that you want to learn,
go learn it and then you can make videos of you teaching it back to
people. So that’s kind of the goal, helping them be producers this
summer instead of just consumers.
Ashley: I love that.
Joshua: That is gold. That is gold. Can I squeak in a mini
follow up question to that though?
Russell: Yeah. Like if we’ll execute on it. I don’t know.
Joshua: I just want to make sure, respecting your time that
we’re just moving along and everything, but this is so amazing. So
what’s your philosophy just on finance with your kids and stuff?
Okay because you’ve been broke and you’ve had lots of money, and
you’re wealthy. Are your kids aware of it, is that something that
you talk about? Is the business just your front stage, internet
marketing stuff, or in the home are you talking about, “Here’s what
we’re trying to do, we’re trying to go to a billion dollars. And
we’ve got to restructure our org chart and our model.” Is any of
that happening or is it just dad-Russell all the time. And there’s
not a wrong answer, I just think people would be curious. And then
when it comes to money, do you give them an allowance, do you teach
them that they only get paid for value creation, do you buy them a
car when they turn 16, do they have to buy it? How does that all
work for you guys?
Russell: The first part of the question, I have not been good at
that, bringing them into what I’m doing more. A lot of times we’ll
show them funnel hacker tv episodes and we’ll talk about a couple
people we’re meeting, so they see a little bit of that. But we
haven’t talked about the finances or the goals. That’s actually
really interesting, I’m glad you brought that up just to think
about.
And on the other side, we don’t do allowances, they can work for
money. We had them pull weeds for money, we had them read books for
money.
Collette: That’s allowance, well, I guess for money. Yeah.
Russell: Allowance is like guaranteed, “Here’s money because
you’re alive.”
Collette: Oh.
Joshua: Allowance, true allowance is like just pure socialism.
You have a pulse, here’s some money. {inaudible}
Russell: It’s funny because some of our kids are super money
motivated, and some aren’t. Dallin and Ellie both like money. Ellie
will do something, or like, if she scores a goal in soccer we give
her a dollar. So she’ll do stuff. And she’s a consumer. She spends
it. She’ll make money and then she drives to the juice place and
buys juice 5 seconds later.
Collette: Drives her bike. She drives…she does not drive.
Russell: Rides, yeah.
Collette: She gets there.
Joshua: Well, you know what we started doing? Our kids love to
play games, Fortnite and all that, watch YouTube and stuff but they
can only do it now by spending points. So what they do, when they
take out the trash and do stuff, we have a little app that we built
for my company called automate motivate, it’s actually for
businesses, but we use it with our kids.
Ashley: Or employees.
Joshua: They get points since they’re doing stuff, but they can
only play game time when they cash in their points for an hour
block of game time. And it’s been a complete ridiculous success.
Every day when they come home they’re just like, “What can I do, I
wanna…” and then they do it, and they can earn 30 minutes of game
time. It’s kind of game-ified that, but it’s not money directly.
But there’s different things, they get game time, or they can go to
the movies with mom or something.
Ashley: It’s been interesting, some of our kids want to buy game
time, and then the other one is like, “What can I buy on Amazon
right now?” He wants, it burns a hole in his pocket, he would ride
his bike to the store if a store was near us. We live in the middle
of nowhere.
Joshua: Well, that was great. Thank you for all of that, so much
awesomeness. Question 9 is kind of for other people. What advice
would you give a highly driven entrepreneurial family, and what
advice would you give their spouse? So sometimes the man is the
entrepreneur, sometimes the woman is, sometimes they both are,
oftentimes one is not entrepreneurial, and one is a maniac, what
advice would you say to that young couple that’s about to go down
this crazy up and down, they don’t even know if they’re going to
have to fire 80 employees in one day, 5 years from where they’re
starting.
Russell: {inaudible}
Joshua: What would you say to them?
Russell: I’d say on my side, I always think, I always tell
people, you can only be as successful as your spouse will allow you
to be. And I’m so, I look at everyone else I ever dated before,
people I knew, if I didn’t marry Collette, there’s no way we could
have got here. It’s just not possible. And I think I’m so
grateful for her, how much grace she’s given me during the times of
like, the hard times, or the low times, or the times I didn’t
produce, or times I didn’t show up right. It’s so easy to hold
judgments and to hold grudges and to hold things like that, and
she’s never been that way. There might be something we get in an
argument about, but then it’s gone and she forgives, and it doesn’t
keep lingering and lingering.
I think a lot of times you see that in a relationship, it
lingers and lingers to the point where it just breaks. And she’s
never been that way. It’s just kind of like, I don’t know, she
gives me, I guess grace is the word in my head, just forgiveness of
like, I understand that you’re doing stuff, that doesn’t make
sense. It’s not normal, but I still love you so it’s okay.
Collette: Oh, it’s so hard because that question all the time,
like at Funnel Hacking or when people do run into us like, ‘Give me
some advice, tell me what to do.” I’ve had a couple of women just
in tears, “how do I support my husband.” And it can go both ways.
And it really made me think, because I’m like, “How did I allow
Russell to live this dream? How did I allow him to move forward
without me cracking?” But the truth is I did crack. You know, you
go through all the things and I mean, we weren’t rich right out the
gate. So we had a little family, worked hard for all that you had.
You see and like, I want him to live his dream, I don’t want him to
be miserable with this life, so it’s kind of, everybody is so
different. Advice to me is hard because everybody is a different
personality, but I would just say, communication. Because I just
learned that I would tell my younger self that as well,
communicate. And the other thing is do something for yourself.
So the advice to a highly driven, for instance, he’s the
dreamer. He’s always like, “What’s your dream?” and I’m like, ‘I
really don’t know. Keep everybody alive, keep up the house, to be
this mom.” But to do something for yourself, go out with your
girlfriends and breathe, and communicate that with your husband, or
your significant other. Take some time for yourself because
otherwise you’ll crack. And I did crack a lot. I learned the hard
way. But also, podcasting, all these great, amazing tools that we
have today, I would tell people that are out in this world to
listen to all the positive things to get through these moments. How
to deal with a dreamer. I don’t know.
Joshua: That was an amazing answer.
Ashley: That was like a mic drop.
Joshua: I’m pretty sure you know. That was perfect.
Ashley: I think so too, that was amazing.
Collette: There’s always tears, and there’s always a little
something, that’s just human nature. But we’re not perfect.
Joshua: Have you ever felt pressure to act like that’s not the
case? I mean, things are weird at home, you’re a public figure,
because you made yourself internet famous. But you know what I
mean? Is there, what’s that like?
Collette: What is that like? Why am I stumbling?
Russell: I think sometimes you feel, I mean for sure you feel
the pressure. It’s funny too because people are like, “how are you
always happy?” because I’m happy when I’m clicking, “Hey! How’s it
going guys!” and then it’s back down and you’re like back to the
fight. You want to see what’s actually happening here, we’re really
upset right now or whatever. But it’s interesting because I think a
lot of times you feel like you have to keep that posture. Because
the fascinating thing is the times that I don’t, the times I break
posture and I’m more vulnerable with frustration or things like
that, that’s when I feel like, that’s when people actually connect
with me more.
It’s funny, Natalie Hodson I was talking with her yesterday, she
did an instagram or something like, “You guys think I’m a nice,
cool, calm, collected mom, I just screamed at my kids for 30
minutes, I threatened to throw the TV over, I’m a horrible mom.”
All these things, she’s like bawling her eyes out and everything.
And she told me she had 351 DMs from that one thing, she said,
“I’ve never had that before.” That’s what draws people in. And I
think that, you know I feel like we tried you know, I don’t know, I
think there’s always some of that, but I’ve tried to be more like,
things are tough sometimes.
I remember at the very first wrestling practice with the kids
out in the garage, I did a whole podcast about like, ‘Man, that
sucked.’ I want to record this now so someday I can have my kids
remember the first practice, how horrible it was, how mean they
were, how they just let, just try to share more of the pain part,
because people actually resonate with that way more than the
posture.
Joshua: People crave authenticity. But now Russell’s going to
choreograph fights so that he can make great content.
Collette: Ha, ha.
Joshua: I’m just kidding. Collette was going to say something,
I’m sorry.
Collette: Oh no, I 100% agree. I don’t feel like, well sometimes
maybe, I’m like we get dressed up a certain way, that’s when people
come up I’m like, ‘ugh. I don’t have makeup on.” But who cares,
whatever. Seriously, we’re all people.
Joshua: Totes.
Collette: Yeah, yeah.
Ashley: We never do that ever.
Russell: Sure you don’t.
Ashley: He did that last time.
Joshua: I did that, we just talked to Alison Prince and her
husband and I don’t know where it came from it just came out.
Ashley: And he did it twice in that interview. He’s not allowed
to do that. Don’t do that.
Joshua: It just felt right.
Collette: That’s hilarious, I love it.
Russell: {inaudible}
Ashley: It’s not right. It’s not. Okay, last question, how
important is having a like minded community as an entrepreneurial
family?
Joshua: Like, we want to assemble all these people that care
about crushing two comma clubs and doing huge things of business,
not about money, it’s just who you are, it’s what you are, but
equally and more so care about crushing it at home and just
connecting with your spouse and being a super parent. How important
for those people is it to be in community with other weirdos like
that?
Russell: I think it’s super important. Yesterday when we were
preparing for the interview Collette asked Dallin, our oldest twin,
9 minutes oldest, about what he likes about this thing. And he’s
like, “You know I don’t like being wealthy because I have friends
at school that make fun of me for being the rich kid.” And for us,
it’s like, “ugh” and it’s funny because the kid who said, I
specifically know who it was, his dad told me, he’s like, “My kids
ask me how come I don’t have my wrestling room at my house? Why
can’t I get a job like Russell’s?”
So it’s funny because both kids, the opposite direction. But I
think it’s important because it’s like, we live differently right.
Most people, they wake up in the morning, they go to 9 to 5, they
come home, they watch tv, or they drink beer, you know, that’s the
majority of the world. And we’re out here trying to change the
world and have fun and do other things, and thinking about other
people besides just ourselves, and we’re trying to create. And the
more they’re around other people trying to do that, the more
they’re not embarrassed of it.
It’s like, it broke my heart hearing that yesterday because I’m
like, if that’s how he feels because he’s embarrassed, we need to
get them around more people who are creating. Because you know,
when he hangs out with Caleb Maddox that night he’s writing a book
because Caleb you know, the more you’re doing that, the more it
inspires, the more they’re able to see kind of what’s possible. So
I think that’s a big reason why we’re doing the kid event in the
summer so they can plug into that. We’re having a couple kid
speakers come as well, so they can see, I wan them to have their
eyes opened to, “Oh my gosh, I can do this too, and this is cool.”
And it’s not a bad thing, it’s a super positive thing.
Collette: Yeah, I agree. It’s a big deal. I’m like, ugh. I
really appreciated getting these questions beforehand because I
really did, I was asking my kids the same thing, so it was
interesting to get each of their perspectives. But anyway…
Joshua: Well, thank you guys so much. We’re actually, part of
what we’re working on is this thing that’s called the family war
plan. It’s not a journal, we’re not going to call it a journal,
because that’s not cool enough, we’re going to call it a war plan.
But it’s for families and it has all this crazy stuff.
Ashley: it’s an experience.
Joshua: If we, I don’t know when they’ll be done or whatever,
but if we get them done in time, I want to just give a bunch to
Clickfunnels to give to the families that come to the thing with
their kids.
Collette: Gosh.
Joshua: I don’t know if they’ll be done or not. But it’s
so epic and thank you, thank you. Triple thank you, thank you.
Ashley: Thank you, and you were fabulous, absolutely
fabulous.
Russell: Really good, I’m super impressed. So proud of you.
Collette: Awe, thank you.
Russell: You’re a natural.
Collette: I’m not a natural.
Russell: We’re starting a podcast together.
Joshua: You did a great job.
Ashley: Yeah, you did a great job.
Joshua: Enjoy, I’m assuming you’re having a day off since you’ve
been doing crazy, ridiculous things.
Collette: I’m making him go to zumba tonight.
Russell: That’s our date night. We’re having some zumba.
Collette: There may be some blackmail happening here in the
future.
Russell: I just found out yesterday that zumba is dancing. I did
not know that.
Joshua: You’ll just own it and do an instagram.
Ashley: It’s like really hard dancing, you don’t stop, you keep
going.
Russell: I thought it was like a cardio, like a
workout.
Collette: I’ve never done it either.
Russell: Then Dave told me yesterday that it’s salsa dancing or
something.
Collette: It’s going to be amazing. That’s our date tonight.
Joshua: Congrats too, on your wrestling thing.
Russell: Thanks, so much fun.
Joshua: {inaudible} thing to do that no one literally does,
except for Russell.
Collette: Mid life crisis friends. Bring him back to glory
days.
Joshua: you looked like you were in beast mode though, you were
smashing people, dude.
Russell: I only showed you guys the highlights, when I was
smashing. The two I got smashed in you didn’t see anything from
that.
Joshua: Did you get wrecked by someone, or was it close.
Russell: yeah, I lost 2 matches, I won 5 matches. So when all is
said and done it was…
Joshua: It’s amazing, and you just started training a few months
ago for it, didn’t you?
Russell: We had three practices before we went, because I hurt
my neck. So it was, it was fun though. We had a great time. Next
year, and there’s a kid tournament at the same time, so next year
I’m going to bring all the kids and Collette, and we’re going to do
a family party.
Collette: Yay, a wrestling party.
Russell: She thought she outgrew the wrestling.
Collette: It’ll be fun.
Ashley: Oh my gosh, you might be my new favorite person on the
entire planet. I’m a big fan.
Joshua: We’ll bring Collette honey too, from our honey bees. I
don’t even know if you like honey.
Collette: I love honey.
Joshua: Okay, we’ll bring it. {Inaudible} the bee and put the
honey right in the jar for you.
[back and forth inaudible}
Collette: Oh my gosh.
Russell: I assume that’s how it works. I don’t know.
Collette: I don’t know either.
Joshua: Alright, thank you Russell.
Ashley: Thank you.
Russell: Thanks you guys, it was super fun.
Collette: Thank you, thank you.
All: Bye.
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