(B) Roland Frasier: How To Build Lasting Wealth, Influence, and Happiness

In this episode we discuss how to make the most important decisions in your life. Where should you spend your time? How do you evaluate different opportunities? Are you focused on creating wealth or income, and which is more important for you? Should you make a big change in your career or industry? We dig into all of these important questions and give you the tools to answer them with our guest the legendary Roland Frasier. Roland Frasier is a serial entrepreneur who has founded, scaled or sold dozens of different businesses.  He is currently CEO of the War Room Mastermind, where he advises over 150 major companies and principal in DigitalMarketer.com, among several other successful online companies. Roland has experienced business success in several industries including real estate, law, publishing, consulting, and many others. He has worked with major companies such as Microsoft, Infusionsoft, Etihad Airlines, Harper-Collins Publishing and Uber.The biggest business breakthroughs often come from applying unexpected places and cross applications The importance of creating models and frameworks for solving business problemsTake what you read and break it down into something that’s simple and useable How do you take what you’re reading and learning and turn it into something that is actually usable and applicable?The Long and The ShortThe dangers of being “cash poor” and “asset rich”Are you over-focused on income or wealth? Are you a dancing bear? Its so easy to get trapped into reinvesting 100% of your profits into growing your company How do you balance our time between short term income creation and long term wealth creation? Formula: Income Needs = Long Term Growth Desires + Lifestyle Costs + Cushion If you want yourself too far on one side or the other, it’s time to rebalance your focus a bitLife is so fragile - you have to balance living for today and living for tomorrowClassify your opportunities as either “wealth” opportunities or “income opportunities”You should be hustling, but you shouldn’t be