Interview with Rana Saini, Founder of the Influencer Project
On this week’s episode, Rana Saini on the importance of being very good at solving a very clear problem with a very clear solution. Rana is an ex-personal trainer come entrepreneur and now runs the Influencer Project where he helps business owners become influencers on LinkedIn.
He shares his insights on what made him pursue entrepreneurship, where the biggest opportunity for wealth creation is and why having a goal and a strategy is what ultimately should drive people towards the path they take.
01:49 – Rana’s childhood influences on money and wealth
03:29 – Anxiety around money & taking risks
05:36 – Reasons for wanting to run a business
09:21 – Having the mindset for building sustainable wealth
11:56 – What would you do if you had to start over?
13:50 – Finding a purpose for building wealth
15:43 – Earning your financial freedom
18:22 – Becoming an influencer in your space
21:42 – Thank you
Q: You grew up in a traditional family. Tell me how money showed up in your home?
- Parents both worked in the government
- They weren’t poor or rich – middle class upbringing
- Remembers questioning why he couldn’t have “luxury” things
- Raised by a single mum – money was one of those things they looked to save
- Money was scarce rather than abundant
Q: How has your upbringing influenced your relationship with money in adulthood?
- Money still gives him anxiety but he’s not scared to take risks
- At 15, he got his first job because he wanted to buy the things he wanted
- His motivation stemmed from the fact that he wanted to earn money so that he could buy things he wanted
- Recalled that he knew he could have whatever he wanted, he just needed to earn it
Q: You run a very successful business, you’re an author and a committed entrepreneur. What is it about running a business that’s caught your attention?
- First started as a personal trainer and could earn good money from it
- He got to a point that he decided to work for a franchise group – Vision
- Personal Training – and got a call from his sister after his mum had a really bad health scare
- It was during this time, he looked at his list of clients, he knew that if he stopped working, he stopped getting paid
- He read Rich Dad, Poor Dad by Robert Kiyosaki
- Remembers learning about what assets he has and what he needs when he retires
- The definition of a corporate entity is a business that runs independent of its owner
- He wanted to create something that gives him money, no matter what he was doing, would pay him
Q: On a spectrum of how easy to how hard it is to make money, where do you think you sit?
- There’s a skillset and mindset component of making money
- The skillset part is easy. However, the mindset part is the most difficult because you need to think about how to sustainably make money
- The only way you can do this is to get out of the way of your business
- You need to figure out how to replicate yourself and either do this through people or processes (automation)
Q: You’ve had a very successful partnership with your business partner. If you woke up tomorrow and the business was gone, what would you do first?
- He’d look at things pragmatically and assess the basics of business – what is the offer that needs to be created, who are the people who need this offer, where are these people and how do you find them?
- He’d create a solution around a common problem they have
Q: For many entrepreneurs, their business gives them the highest ROI. If you think about your own journey, what has been the biggest struggle around building wealth?
- A plan – earning money is one thing but keeping it and accumulating it is a whole different game
- The strategy and plan to why you need wealth and the plan that should come with it is why you should be accumulating wealth
- Money’s just a resource – it’s like water and food
- Money needs a purpose and an enabler of something
- Purpose is what drives wealth, it’s not just about profit
Q: Why does financial freedom matter to you?
- He wants the freedom to do what he wants, how he wants, when he wants and with who he wants
- He uses a metaphor based on The Gladiator which compares business owners with gladiators. For a gladiator, if you win the championship, you win freedom. In business, this is the same – you’ve got to learn how to innovate, adapt and change until you’ve earnt your freedom
Q: Where do you see the greatest opportunity for people to create wealth over the next decade?
- You’ve got to adapt to the environment a la Darwinism
- Those who choose not to adapt, then you’ll be left behind
- The biggest opportunity is to be agile enough and open enough to look at how you can solve one problem really well for a group of people
- An influencer for example, isn’t about the vanity. Instead, it’s about leadership and advice as an expert
- There’s never been a better time to be an influencer in your own world
- You don’t need to be the best in the world, but just your world and niche
- Double down on being an influencer in your niche or space, providing a very clear result for a very clear problem
In this week’s episode, I talk...