Interview with Taki Moore, the Million Dollar Coach
On this week’s episode, Taki Moore, the Million Dollar Coach shares with us his insights on how despite being considered the Mark Zuckerberg of coaches for coaches, he cares very little for money. Instead, he shares about how he counts people rather than money, what it was like living a nomadic life with his family for three years and how you can create money in the current economic situation.
Connect with Taki:
01:45 – Moving from nomad lifestyle to settling down
05:26 – Childhood influence on wealth and mindset
08:46 – Reconciling Freedom and Wealth regarding the Black Belt Program
11:25 – Are there money limits when holidaying?
13:33 – Teaching kids about money and success
17:58 – Was making money easy or hard? Solving problems
22:01 – Advice for building wealth: solving problems on a level playing field
26:33 – Thank you
Q: One of the things I know about you is that your parents separated when you were younger. How did each of them influence you when it came to money?
- Mum and Dad split up when he was 2 and he lived with his mum
- Personality-wise, he’s very much like his mum with elements of his dad
- Very socialist family – money was perceived as bad and people who had it were not good people
- Dad was good with money and was an architect
- He was disciplined and saved well
- Taki felt like there was such a difference between the way his parents lived separately
- Noticed that there wasn’t as much warmth with Dad even though he was considered more financially well-off compared to his mum – Taki drew correlations between these environments with money
Q: I learnt from mutual friends that you don’t care much for money. How does that reconcile with the fact that you’re running a program to teach coaches how to make a lot of money?
- The program is about three things – more money, more impact, more freedom
- If he had to pick two out of three, he’d pick freedom and impact
- He definitely wants his clients’ revenue to go up. If he ran a program about impact and freedom, zero people would sign up
- Selling money and tricking people into meaning and freedom, he’ll take that everyday
Q: When you think about holidaying and spending money. Where do the limits lie?
- FThere’s no limits
- Loves staying at nice places rather than Airbnbs
- First three months of their nomad trip, they stayed at boutique hotels that were costing $2,000 a night
Q: You seem to leave your decision making around money to Kiri-Maree, how does it influence the way you speak about money in the household? How do you teach your kids about money?
- When we first met, I make the friends and she keeps them
- Because of Kiri-Maree, she’s been the prime force in his family investing
- They have 6 kids with 3 living with them and 3 that aren’t – all with very different upbringings
- The older kids grew up with a poorer upbringing
- In terms of teaching, he read a book called the Barefoot Investor
- Applied the 3 jobs 3 minutes 3 jars system and made parenting about money so easy
Q: You are very good at making it look like it’s easy to make money. If we assume that wealth creation and money are two separate disciplines – what do you care about when it comes to wealth?
- He doesn’t really care yet but probably should care more
- He lives very much in the present rather than the future
- Not a long-range thinker or planner
- He doesn’t find making money particularly difficult and offer to solve it
- If you’re useful you’ll make money, if you’re not useful then you won’t
- It’s been hard to get used to the idea of making and having money
- When he first moved to Sydney and made $23,400. He was really good at his job. When he asked for a pay rise, he got a $2,000 a year pay rise. When he did his first ever webinar, he picked up 46 new clients and $30,000. This changed his world
Q: You speak often to younger people about life and business. If you were to give advice to people who are uncertain about what a post COVID world looks like, what would your advice be?
- Taki tells of a story of one of our mutual contacts, Jason Everett. Listen to it at 23 min
- There’s a level playing field and if you decide you’re gonna win, it means you’re going to be okay
- As much as the macro economy changes, as long as you have a solution to a problem, then you’ll be fine
- The strategy is – how do you find problems you can be useful for?
- He’s never counted money rather than the people he helps. Money is secondary
In this week’s episode, I talk...