EP 444 – Unveiling An Entity with Aaron Young

NCS 444 | Entity

NCS 444 | Entity

 

Starting an LLC or limited liability corporation can be easier to maneuver once you know how to handle the right documents and deal with the right people. Aaron Young from Laughlin Associates talks more about the unveiling of a new LLC and what steps you need to take when creating an entity to ensure that it is alive. He also talks about being self-employed as a businessman and the importance of doing something else or following a formula rather than sticking to something that does not work. Aaron also talks about why you should seek counsel from the right people, acknowledging that not knowing some aspects in LLC must not be taken negatively but as a necessity for you to generate more success.

Listen to the podcast here:

Unveiling An Entity with Aaron Young

We are always honored. We have a special guest and our brother from another mother. He’s one of our best friends out there. He’s an all-around great guy who has a passion for helping other entrepreneurs succeed. Our good friend, Aaron Young, from Laughlin Associates. What’s up?

It’s good to be here. It’s always fun to be with you every time. I am always grateful that you bring me back.

You’ve got your Magnify Your Wealth Summit kicking off. You’ve got a thing coming up that you’re doing in Italy. Why don’t you talk a little about that first?

I teach a class called the Unshackled Owner. It’s designed to help people that have grown a company. They’re doing well but their business has taken over their life. They want to figure out how to rethink and how to run the business so that they have more time and freedom to enjoy the money they’ve created. We’ve been doing that for several years. We always thought we would do a small group eventually. Finally, some of the students who are all owners of successful businesses started saying, “When can we do it?” That’s a nice way to start something new when people are asking for it. You know that because you’re always very in tune with your audience.

I’ve rented a 23,000 square foot villa, about 50 minutes outside of Florence, Italy out in Tuscany. We’ve got this small group of people that are going out there. We’re going to do these three times a year. It will be small and intimate, no more than twelve people mastermind group. This is our first one. I’ve been to lots of other people’s events, but I’ve never done anything like this before. The beauty of it is, and you know this, I was talking to Lee Morgan, my business partner at Laughlin. It’s great that once you’ve learned how to not just make money yourself, but how to start to scale it and how to make a business out of the thing that you’re good at, it’s exciting because you can go off.

I’m going to be there for sixteen days to teach a three-and-a-half-day class. You’re going to be away on a trip for almost three weeks. My business partner is going off on a trip for two and a half weeks to where you’re completely let go. You disconnect. As a matter of fact, you said we couldn’t do an interview together next time because you’ll be at sea on the day that we would normally do it. There are reasons people should be listening to you and to me for that matter. If they want to create something that creates wealth that isn’t dependent on showing up 9 to 5 every day to do specific work. If you want to learn how to build wealth and not just have a job, there is a way to do it. It’s not luck. It’s not fairy dust. It’s a formula. When you follow the formula, it will work.

For our audience out there for the first time, Aaron is the CEO of Laughlin Associates. They’re a company out in Reno, Nevada that specializes in working with entrepreneurs and business owners and helping to create entities, asset protection, structuring deals, and working with a variety of professionals to help grow your business in the long run. He always says, “Start with the end in mind.” Aaron is an expert at building businesses, starting businesses, and helping other entrepreneurs unshackle or break the chain that’s shackling themselves to their business. That’s one of the great things that you were talking about. If you’re the person that has to show up and turn the lights on and do everything, you’re not a business owner. You’re employed by yourself.

NCS 444 | Entity

Entity: Lift yourself up into a realm where you’re living at a different level than that.

 

You’re self-employed. Most people that say they have a business are truly self-employed. They do work for themselves. They do get to call the shots. If they stop working, the revenue at least significantly drops. It may not end but it significantly drops. There’s nothing wrong with that. I celebrate the fact that they did it. They’re making a living at it. It’s a very challenging way to live. I’m going to be 55. It’s only three years of my adult life that I have a job. That was a very significant position in a big public company. I was their Vice President of sales for a large multinational. The point is I know what I’m talking about when it comes to being “self-employed.”

What I learned early was that you don’t have to be self-employed. You can start a business, follow a system, and begin to extricate yourself from the day-to-day operations. I’m the Chairman of Laughlin. My business partner and I bought it in 2001. It’s been a few years since I’ve even walked in the door of that office. We have dozens of employees and tens of thousands of clients. If you build it, the team will run it. You can own it like owning real estate. How many of these real estate investors want to be the one plunging the toilet, painting the walls, mowing the lawns or do you get a team of people to help you manage your assets? You can do that in business.

I’ve been talking to somebody and we’ve got an active group online, our WCN Crew Facebook page and our different basecamp groups and things like that for people that are like, “How often do you do this and how often do you audit your own loans?” I’m like, “No offense, you probably shouldn’t be auditing your own loans.” You’re going through every file. You’re double-checking insurance. You should not be doing that. Most people, no matter how many systems they have, they can only effectively operate somewhere between twenty and thirty loans. If you’re high tech and you’re used to a lot of things, maybe you can add a little bit more to it. You’ve got to put systems in place or if they want to go from zero to six figures, hire an assistant. Bring on somebody to do the stuff that you don’t want to do.

I don’t know how people, if you want to be a business owner and you want to make money, are doing things like taking care of your lawn, cleaning your house, following up on the stacks of business cards that you get, unless it’s meditative in some way for you. You need to have people to come and do that. If all you do is sit on the couch and watch TV all day, if you could more efficiently or effectively leverage your time to where you’re mostly doing high-value work, whether that’s a revenue-generating work. It’s radical self-care where you’re going on a cruise, you’re getting a massage, you’re sleeping in one more hour or you’re exercising something that makes you sharper, something that sharpens the saw, that’s great.

Some of the wealthiest and most brilliant people I’ve ever met in my life, I’m thinking of two of my idols, one of them is a guy named Jeff Flamm and the other guy is a guy named Winston Churchill. Winston Churchill has been gone for a while. Jeff Flamm is an active business owner. He’s a real estate investor. He lives in Utah. Both of those guys were pretty busy. Churchill had a thing going on with the whole World War II rebuilding Europe and the Middle East. Jeff Flamm is running a $1 billion real estate empire. They both learned to oil paint. They would take time every week to paint because it got them out of all the craziness, and they could only focus on the canvas. When we look at assistance, housekeepers or anything like that, you don’t have to go and be a slave at your desk. What you need to do is keep your brain sharp. Warren Buffett spends six hours a day sitting in a chair reading because that keeps him sharp. It’s not all about, “How hard did you work?” It’s what you are doing to make yourself better at accomplishing whatever it is you’re trying to accomplish to make money.

You’re an expert on your business, Scott, but you’re also an expert about a lot of stuff. You’ve learned many things about marketing, technology and sports. You’ve known many things. All of which when somebody meets you, adds to your credibility and they want to do work with you. For your audience, quit doing the mundane stuff that somebody that’s making minimum wage can do for you. Lift yourself up into a realm where you’re living at a different level than that. Some people are going to say, “That’s very ivory tower of you, Mr. Young. That’s fine if you have the money.” Scott, have you always been rich? No. You know my story, have I just had this perfect trajectory?

No, that’s the thing that most people don’t realize, there’s no perfect trajectory. It’s peaks and valleys. What you work towards is that the valleys are become higher than the peaks ever were, to begin with.

You get out quicker. You’ll meet people sometimes who are flash in the pan. They did something and they made a lot of money, they got famous or something happened. When their moment is over or when that company is sold or whatever, you’ll see that they can’t repeat it. They never learned how they got there. They were in the right place, right time and took the right opportunity. It was great. It was successful. I know a ton of people who’ve done mind-blowing big brands and created things that everybody reading this has heard of, who never were able to get back to that level again. The people that learn the why of how or the reason what made it happen tend to be able to repeat it over and over again. You look at Richard Branson. He had lots of things that didn’t work. He knows how to get out of it quick and go do something else that does work. I noticed now Virgin Trains in Europe. There are Virgin airlines. Now they are going to have Virgin rails. Jeff Bezos has tried lots of things that didn’t work but a lot of his stuff seems to be working too.

The thing about doing something is having a little bit of patience too. Many entrepreneurs, if they don’t see immediate results on things, give it up and walk away. You and I had the discussion. I totally side with you that a lot of people want to try to pursue their passion, but if there’s nobody buying their passion, it doesn’t work. The guy from the show, The Profit, talks about the fact that if he’s in a business that’s failing, he does not go down with the ship. Most entrepreneurs go down with the ship because they can’t let go of the wheel to let it go and move on to something else. That’s what successful entrepreneurs do. They get something to try. If it’s sinking, they don’t sit there and go down with the ship. They move on and with the different laws that are available to us out there, they’re able to do that for different things.

I meet people all the time, men and women, who will sit with me privately with tears running down their face saying, “I feel like I’m so close on this thing.” I’m like, “How long have you been working on it?” They’re like, “Five years and I’ve put all of my life savings into it. I’m in debt. I’m losing my marriage.” I’m like, “Why are you still doing it? Why are you doing this?” They were like, “I’ve invested all this time and money.” They’re like gamblers who are losing all their money but they think, “On the next hand, I’m going to make the money back.” Just stop and do a sanity check. Does this make any sense? People will do it.

Brian Tracy is the guy that I heard quoted this old Turkish proverb years ago and it said, “No matter how far you go down the wrong road, turn back.” It’s a brilliant thing because people will say, “I’m making such a good time on the road. Why would I stop?” It’s like, “You’re going the wrong way. Come back, we can help you.” This is a philosophical discussion that I’m sure we could spend an entire hour on. All the people we’ve seen that have continued to chase their tail and wonder why they’ve lost all their money, why they’ve lost relationships, and why they’re miserable. You don’t have to do that. There are lots of things to do in this world. If something’s not working, either figure out why it’s not working or maybe it’s a bad thing to do and do something else. Don’t be so locked into the thing you told everyone you were going to do, that you keep doing it when it becomes a fool’s errand.

One of the things that are great here is we’re big fans of Laughlin Associates. Our mastermind members and a lot of our students are clients of your court bail protection. One of the things that I learned, and I’ve spent time looking through your Magnify Your Wealth Summit that you held twice a year, one of the big things that most entrepreneurs get excited about is setting up their entity. They’re going to set up their LLC, not a DBA but actual entity. It’s the first thing that separates me because I get people all the time like, “I’m going to buy my own name.” I’m like, “You don’t want to do that. Careful there. You don’t want to run the car off the cliff.” There are some things you want to do to set things up. A lot of people go out and get an entity. They get an LLC, S corp, C corp or whatever it may be. That’s not the first step. Many people will go set that entity up, but they won’t do the things that they need to keep that LLC compliant. What I thought I would do here because I created an LLC with you. I’ve got this box, I flipped it open and I’m like, “It is my.” What is it, Aaron?

That’s going to be your corporate record book. You said a lot of people set things up themselves. They will go to the Secretary of State’s website or they will go to LegalZoom and they will look for the cheapest thing they can do. It is filing a name. You are paying the state tax or the state fee to lock in your name. The state has said, “You are now We Close Notes Incorporated.” Most people leave it right there. They can do that for $99 or $199. I’m glad you brought this up because many people are screwing this one up.

It’s like you go to Disney World and you walk up to the ticket booth. You buy a ticket and you give them $119 or how much it is to get in there now. You go, “Here’s $120 so I can go stand in line and eat $25 hamburgers.” It’s like you go up and you buy your pass to get in, you’d go back to the parking lot and go to the mall or something. You never walk into the park. You paid for it, but you never got what you bought. All you got was permission to go into the park, but you never got the value that you paid for. When people go and file their name for $99 or whatever and pay their state fees, it’s like they bought the ticket, but they never got what they bought. What they need is what I think you’re going to show us.

NCS 444 | Entity

Entity: Seek counsel, not advice.

 

That’s the thing, you say it all. If you’d ever heard Aaron speak or seen him speak at Note CAMP or Virtual Note Buying Workshops or things like that, there’s a slide that Aaron does about all the updates that you’ve got to provide to your entity, quarterly updates, and we’ll get that monthly updates or things like that. If you’re going to make a decision, you’ve got to do that. This is your corporate book. I’ve got this nice leather-bound binder that comes in and it has the name of the entity. I went ahead and created a separate entity for the podcast because we now have sponsors and things like that. I want to separate that off.

What is it called? Is it called We Close Notes?

We Close Notes is the main company. This is separate. The podcast now is an entity called the NCS Podcast LLC because we’re getting courted by some very big sponsors like banks and a couple of other things as well too. We’re getting some good traction from this. This little side of things that we’ve done has done a good job. We’re like, “Let’s create an entity and do a little protection with it.” Inside the binder, you’ve got a couple of things. You’ve got the minute books. You’ve got the certificate.

I was looking to see if there was a leather pouch in there.

There is. It’s on the back. I’ve got the leather pouch. Do you want to tell me what’s in the leather pouch here?

That’s an embossing thing. It’s like a corporate seal. A lot of people get excited when they open up their corporate book. The first thing they see is normally this very heavy thing. It’s a corporate seal and it’s in this little leather pouch. They get the corporate seal and they put it together. It’s got this pointy metal thing and you go emboss a piece of paper with it. If you’re not careful, you’ll rip right through the paper.

I do not see it, actually. It’s weird.

We’ll figure it out or is it a rubber seal? It doesn’t matter.

It’s probably in here.

The old ones have metal seals. Some of them still do and some people get a rubber seal. That’s more like a stamp.

It’s got my stamp on there.

There it is. The embossing thing right there is what it should look like. If all you do is file with the state, all you end up getting is a document that says, “Filed.” We’re using a corporation as an example, you’re getting your Articles of Incorporation. It says, “On this day, this thing was formed,” and it gives you a little bit of state information different from state to state. It says, “We as a governing body, the Secretary of State, acknowledged that you are legit,” and that there’s a new paper person that was just born.

Tell everybody out there what’s the famous words you like everybody to repeat at every workshop.

“I am not the corporation and the corporation is not me. I am not the LLC, the Limited Liability Company is not me. We’re separate. I’m a human flesh and bone person. That’s a paper person, but in the eyes of the law, they’re equal.” Inside you’ll have your articles, LLC. Go ahead and ask me your questions.

NCS 444 | Entity

Entity: Customers stay for a long time if you help them to be successful.

 

You’ve got IRS documents and you’ve got membership listings.

They call it a membership certificate in a corporation. It would be a share of stock. They’re the same thing. You also said membership listings. For your audience, if you’ve ever formed a corporation or an LLC, you must have share certificates. If you don’t fill that form out and take it out of your corporate book and give it to yourself or whomever else, you don’t own the company if you don’t issue the stock to you, the human. Once you’ve issued that certificate, you need to write it in the stock ledger or it’s a membership list. The languaging is slightly different for LLCs and corporations, but they’re effectively the same.

In an LLC, you have an operating agreement. In a corporation, you have bylaws but they’re the same thing. This is how we’re going to conduct business. The articles are the same. It’s officially set up by the state. The bylaws are operating agreement. This is how we’re going to operate. The share certificates or the membership certificates are the only things that identify who owns it. That’s got to be kept in a ledger which is there. There’s a place for two more things: minutes and resolutions. Limited Liability Companies were originally designed so they didn’t have to do board meetings. They didn’t have to go through all the rigmarole. The flip side to this, and everybody reading this matters, limited liability meant limited liability from other owners, not from the outside world. The LLC was created to take the place of a general partnership.

That means by definition there are two or more people involved. You don’t have to have a two-member LLC, but the only way to get the value from an operating business that’s a limited liability is to have more than one owner. Otherwise, as a sole owner or as a one owner company, you have better protection as a corporation. If Scott and I were starting a business together, if we weren’t going to go raise outside equity, we weren’t going to sell shares, we were going to start a business, we would almost certainly set up an LLC. The greatest amount of liability either one of us could have would be whatever the value of our ownership is in the LLC. It doesn’t spill over onto the other person’s value. It doesn’t spill over into either one of our personal estates. It’s only our ownership in that business.

Nobody else can get hurt in a partnership. If I had a lawsuit against me personally, I lost and there was a judgment against Aaron Young. If Aaron Young’s estate couldn’t satisfy it, all of my partners would get a bill from the judgment creditor saying, “You all have to jump in and pay a portion of this debt.” That sucked when you get a $50 million or $100 million judgment against a doctor for somebody dying on the operating table, that put a whole bunch of doctors into bankruptcy. We had to change that and Limited Liability Companies were born not that long ago. They’re terrific when used properly. If you’re a one-owner business and you’re using it for your day-to-day operating, not just to hold a piece of real estate, but as your operating business, let’s talk and see if that’s the best way to do it.

That’s why things are important because people are like, “I’m going to do this because somebody told me this or I don’t need to do that.” You need to do a lot of things. I was talking about protection. Everybody’s a little bit different. You always want to talk to an expert. We’re not here to give legal advice. I’m not an accountant or an attorney. You still want to talk with those professionals. You want to seek counsel, not ask advice from your buddy on the couch next to you.

Just because you know a divorce lawyer, it doesn’t mean they’re the best person to give you corporate law advice. It’s like you wouldn’t use a corporate lawyer to help you figure out seismic responsibilities on a piece of real estate. You’d get a lawyer that specializes in that. You seek counsel from people who know what you’re talking about. That’s why a foot doctor does not want to talk to you about your allergies. It doesn’t mean they didn’t go to medical school. They note, “I don’t know much about that.” You know somebody at church or one of your kids’ teammates’ parents is a lawyer, find counsel. I loved what you said about seek counsel, not advice. Seek counsel from people who know what they’re talking about, which is why we come to Scott Carson to learn about notes.

We’re filling this stuff out here but that’s not it. I have a phone call with Debbie at Laughlin. What is Debbie going to do? She’s going to give me counsel in the next steps.

What she’s going to do next is you have to have your first official meeting of the company. You’ll do your organizational meeting with Debbie. Every time any significant decision is made, the law says there must be a board resolution at or near the time of any significant decision. There are hundreds and hundreds of things that need to be memorialized with a board resolution. It’s because if you get sued and you haven’t done it, they’ll say, “We’re going to ignore your entity and treat you like a sole proprietor.” If you get audited and you’re trying to defend all the corporate deductions you’ve taken, if they look at your record book and they say, “You’re not acting like a real business because you’re not holding meetings, keeping minutes and passing resolutions.” You don’t qualify for these hundreds of deductions that you’ve taken.

I know of one guy, one of our clients, he became our client after this bad experience. In one hour, he found out that over $250,000 of deductions were disallowed in an audit simply because they hadn’t kept corporate minutes and passed resolutions. They looked in that book and there was nothing in it. The auditors said, “We’re dealing with a sole proprietor, not a corporation.” They disallowed over $250,000 in deductions that a sole proprietor didn’t get, that somebody who owned an entity did get. There are a lot of benefits. There’s a little responsibility and the responsibility is no joke. If you ever get looked at and you haven’t done it, you are messed up, you’re screwed. It’s a bad moment when they disallow $250,000 in deductions. That’s a bad day at work. Audits and lawsuits are bad enough without finding out that there was something very simple you could have been doing that caused a tremendous amount of pain and expense.

The thing too is it’s correctable. Many people have made the mistake of starting LLC. When I originally started, I made those same mistakes. I went out and created an LLC. I didn’t know about corporate record books. I didn’t know about meetings. I created it because somebody told me I needed to do that being in business. When I first met you and saw what you’re doing, I can remember sitting there going, “I’ve totally screwed up,” but it’s totally correctable. There is a vaccine for that. As we like to say, “There’s a cure for stupidity.” There is a cure for a beginner when it comes to it.

You just didn’t know. How many people had no clue that you could buy distressed debt from a bank or a hedge fund? Who knew? I never knew that until I met you. I heard you speak down in San Diego and I thought, “How did I not know that you could even do this?” It seems counter-intuitive that the banks would sell off stuff that they could hold on their books. If they don’t have a performing debt, it’s better for them to dump it than to hold onto it. I never knew that until I met you. First of all, a lot of us don’t want to acknowledge that we don’t know something. It can be awkward to call and say, “I heard this show and maybe I’m supposed to be doing something with my corporation or LLC, am I messed up?” I want you to know that if you do happen to call Laughlin, you’re not going to get any shame for that because you’re amongst the 95% plus of the people who didn’t know what they were supposed to do. We have tens of thousands of companies that we provide that service and do it for you. Debbie is one of the fantastic people in the department. She’s easy to work with it. She hasn’t shame you, did she?

No. She follows up once a month. We have other entities as well. It’s a phone call once a month, “What did you do this month? What did you do last month? What’s coming up? Let’s do this.” Putting these things together to make sure that you’re getting those types of deductions. Making sure you have everything that matches up for you to do that. She helps with that, “Let’s get this filed. You need to get this filed. I’ll create an email over to you, you sign it and slap it in your binder.”

It’s super easy. That’s why once people do it, once they work with us, it’s over 87% renewal. Once you find out how easy it is to have somebody like Debbie or anybody else in that department, everybody there is great. Once they find out how easy it is and how painless it is, they are able to relax. Everybody that ever formed a business entity, especially anybody that ever got one of those books that you have. They know they’re supposed to do something, but they don’t know what to do so they do nothing. When all of a sudden, we go, “We can relieve the stress from you and get it done,” and they do it, they go, “That was easy.” They’ll say, “Thank you for putting our website up, look at that.”

That’s what I thought because I’ve had a text message and I was like, “How do I get started?” It’s easy, Aaron and his team have put together a dedicated website for our students in our note nation. It’s called CorpVeilProtection.com, or if you can’t jump in front of a computer, you can always call 1-800-648-0966. You’ll get on the phone with somebody over at Laughlin and talk about you heard him on this show, on Facebook or on the radio. They’ve got options here. It’s not that expensive. For your first LLC, it’s $995. If you need to split up in payments, they’ll do payments plans for you. They report it to the credit bureaus for your company too, which is a nice thing.

It’s to build corporate credit or to build business credit. We have business credit companies who refer their students to us simply because we report to the credit bureau. They get the big benefit of protecting their business at the same time. I had somebody show me in a book one time, some corporate credit book from an author I’ve never heard of and never met. Here’s my company right in the book going, “One place you’d go to build corporate credit is Laughlin Associates. They showed you exactly what to do.” I’m like, “This is in somebody’s freaking book.”

We’ve got Merrill Chandler on with CreditSense and we’re all friends with him. He’s speaking at your event here. He’s talking about building business credit and lines of credit. This is a great way to do that to help build your entity. Once again, it’s 1-800-648-0966. When you talk to somebody, say, “I was reading this blog with Scott and Aaron Young talking about your court veil protection, about protecting my assets or CYA with your books,” or that you’ve got an entity and you need to get your books back in order. It’s not meant to be evasive. It’s not meant to be shaming. The whole goal for this is to help you. It’s totally empowering.

You’re going to be happier when it’s done and caught up.

I got a little tickle when I saw this show up and I’m like, “It’s hard to believe.” We have multiple entities for our real estate. We’ve got the We Close Notes as an S corp, as our parent company. We’ve got a couple of holding companies and things like that for stuff to protect our assets. There’s a whole different layer of asset protection as you grow your business and you get started. For many people that they’re looking to get started with your first entity, pick up the phone and give them a phone call. They’ll walk you through it. That’s what you don’t understand. It is the very thing you mentioned, “I’ve got a friend,” or “I’ve got a real estate attorney.” They’re not going to take the time to call you monthly to set up all the documents.

No, and if they did, that would be $600 a month.

That’s the beauty of what Laughlin Associates does. I want you to check it out, CorpVeilProtection.com, Debbie and the whole crew over there, Brent, Meghan and Scott. There are so many great people over there.

We have a great team. No question about it. The clients loved them. That team that you’re talking about that does the corporate veil stuff, they’re the ones that get all the thank you cards, the cookies, the candies, the presents at Christmas time. They’re the ones engaging with people on a regular basis and helping relieve the stress. It’s a great thing to provide for people.

You’re going to be coming here in Austin for the mastermind. For those out there, one of the great things too, Aaron is coming in and spending time with our mastermind group. We’ve got a few people and they’re coming for the sneak peek, just come in and hang out. If you want to come in and visit with Aaron, Brent is flying in as well.

Brent will stay for the whole time and hold meetings with people. Brent Buscay is our VP of Operations. He’s been with the company for many years. He’s our representative to the industry association. He’s incredibly skilled. He does this stuff every day. He’s in the business running the day-to-day where I own the business. It’s a different responsibility.

They’ll get an opportunity to sit down with him. We’re looking forward to that. We’ll probably have right around 50 people once we get everything finalized here. Steph has been working on that, dealing with hotel reservations and FNBs and all that good stuff.

You guys always do a fantastic job.

We look forward to it. It’s our three favorite weekends of the year when we’re not traveling. With our students, it’s the stuff we enjoy doing because they are the people that are taking action. They’re the people that are making the offers. They are closing out deals. They’ve invested in finding success in their own industry. We’ve invested in them as well as trying to make sure that they find success. Just like you are with your mastermind, your inner circle, and the things you’re going to be doing in Tuscany as well.

One of the reasons I love working with you is we’re like-minded. The goal isn’t just to sell something or make the dollar. We’ve learned that if we help the customer become successful because both of us are positioned to work with people over a long period of time. If you help the customer to be successful, they will stay to be your customer for a long time. It’s way better to have these deep, long-term relationships than to be constantly having to hunt for the next person to buy my widget. Everything that we do at Laughlin is designed to be with people on the journey for the long haul. Thankfully, and I give all the credit to my team, we are successful at keeping clients for a long time. I’ve got clients that go back to the ‘80s. They still come out to the event once in a while. They go on the boat cruise with us on Mission Bay, and they talk about no one hardly Laughlin, the old man, and his son. That’s all before I bought it in 2001. What a great legacy.

That’s the whole idea. Who knows where we’re going to go with the show? We’ve seen some great strides and things like that. It’s time to give birth. We have a birthday. We got pregnant with the show. We’ve birthed the entity and doing some other things as well here. We’re evolving too. We’re taking some things differently. We’re doing a commercial note boot camp. We’ve been talking back and forth about that. We launched that initially. We’ve already got some amazing speakers lined up for it. Aaron is going to be speaking on that as well. I reached out to the number one owner of mobile homes in America, the biggest company and they immediately responded back. They are going to be speaking on this, Clayton Homes. I was stoked about that. We’ve got some other big people that were excited about. Our company is evolving. We’re doing some crazy things. Fun things always keep it going and rock and rolling along.

It’s the same thing, I mentioned about Richard Branson, starting law thing. You’re doing it. My Unshackled Owner thing started as people were asking me, “How do you do what you do?” I thought, “I’ll teach a class.” Who knew that over 200 companies ended up going through it in the last few years? It has grown into a coaching thing like accountability for these CEOs. These are all successful people. Two of the people in the class have companies north of $30 million in sales. These are not slouchy people. One of them is over $100 million in sales. That’s the fun thing about being an entrepreneur. If you measure, if you figure out what’s working, your show has had tremendous growth. People are interested and they like you as the messenger.

In my case, the Unshackled Owner thing was a little side hustle. I wonder if anybody will show up and it’s turned into a multimillion-dollar operation. Sometimes we try things and they don’t work and they go, “Are you still doing the thing?” You go, “No, I checked it,” because we don’t have to go down with the ship. We pursue things that the market wants and not just things we want to do. Things that people want us to do that they will pay attention to and they will pay us. Everybody should learn that lesson that wants to be in business. Find out what the market wants, do that and you’ll make money. Out of that surplus, out of your wealth, you can pursue all the passion things you want to pursue. I don’t try to force it down people’s throats.

Be you, keep plowing forward and focus on the things. Make sure you look at where you’re at and where you’re going and that you’re not killing or strangling yourself by shackling yourself to something that’s not making any sense. Focus on growth, focus on evolving, getting counsel, not advice, and taking the next steps to separate yourself from the crowd. Once again, thank you so much. Check it out, CorpVeilProtection.com, Laughlin Associates out of Reno, Nevada. It’s a great company out there to help hold your hand beside the creation. They will help you. Here’s the best analogy. They won’t just birth the baby. They will hold your hand and help you raise the baby as you go. Thanks so much.

Thanks, Scott.

Check them out if you’ve got an LLC or entity there, or you don’t have one, reach out to Laughlin, reach out to the Corporate Veil Protection. Tell them that Scott sent you and they will help take care of you. They might help you out with your first entity as well in a variety of ways. Go out, take action, and we’ll see you all at the top.

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About Aaron Young

NCS 444 | EntityAaron Young is a renowned entrepreneur with more than 30 years experience and several multi-million dollar companies under his belt.  Aaron has made it his life’s work to arm business owners with success formulas that immediately provide exponential growth and protection.  Fully embodying the concept of the unshackled business owner, he inspires others to do the same by empowering them to build strong companies while proactively protecting their dreams.

This is what Aaron knows.  When you have the right systems and culture in place, you can build a business that works for you.  One that is optimized for cash flow, growth and progress.

A lifelong entrepreneur,  trusted advisor to CEOs, Outsourced Chief Strategy Officer and creator of The Unshackled Owner (a program for entrepreneurs looking to build a business … not just a glorified job),  Aaron is armed with the expertise needed to quickly get to the heart of complex issues, identify solutions and illuminate the path to forward progress.  His unique vantage point sets him apart from the crowd as a voice of real-world knowledge and authority.  Connect with Aaron at www.aaronscottyoung.com.


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