Blog Posts

HPR 81 | Freedom From Money Bondage

Heartrepreneur® Radio | Episode 81 | How To Gain Freedom From Money Bondage with Damion Lupo

HPR 81 | Freedom From Money Bondage

As a bestselling author in personal finance and money thinking, Damion Lupo’s key to freedom from money bondage and living a fulfilled life is the unique approach of breaking rules and making more mistakes faster than the competition. You don’t learn a whole lot when you win. It’s when you lose something that you’re gaining a lesson. The faster you can gain those lessons, the faster you can grow. He said the secret to financial freedom is not cash or cash flow, but confidence and the ability to believe that you can create. As long as you have that, it doesn’t matter if you lose things because you can go create it.

I have a guest. His name is Damion Lupo. He is a best-selling author in personal finance and money thinking. He is host of the Transformation Nation podcasts, owner of 30 plus companies and founder of his own martial art, Yokido. He has a unique approach to living a fulfilled life by breaking rules and making more mistakes faster than the competition. That’s his key to success which I find very fascinating. He leads three global companies with one unified mission: to free people from money bondage.

Listen to the podcast here:
How To Gain Freedom From Money Bondage with Damion Lupo

Welcome to Heartrepreneur Radio, Damion.

It’s so good to be here. Thank you for having me.

I’m so excited because there’re so many places I can go with you. There’s so much that you’ve done and there’s so much that you’re doing and I’m excited about that. Let’s start with where it began and the beginning of your intro. Tell us a little bit about the Transformation Nation podcast.

Transformation Nation is about having conversations where we disrupt the ideas on finance and money and giving views and tools to shift them into a place of freedom because we’ve got a lot of information out there around money that’s floating around and ideas, but we’re using old ideas that are still keeping people trapped. One of them is if you have $5 million or $10 million at retirement, you are good but you are probably going to be more scared than if you have nothing. We dive into these things so that we can empower people with real financial freedom and the secret to finding freedom is not cash flow. It’s confidence. It is the ability to believe that you can create because once you have that, it doesn’t matter if you lose things, you can go create it and it’s not a matter of being a coin or by chance. It is by your design.

It’s by your design, not by chance. There’s so much truth in that. I don’t know too many people, I know less than five, who have been an owner of 30 plus companies. How has that happened for you and what’s your drive?

This is one of the things where once you do something a few times, it becomes normalized. There’s a cognitive bias where we do things and then it is what we do. This started when I was eleven because I was frustrated. My parents told me “No, we don’t have any money,” so I started a business selling video games so that I could play games. Once you get that experience of doing some business, it’s funny because even when the thing doesn’t work, as an entrepreneur you realize, “I can try something else.” You realize that the school system that told you that mistakes were bad had nothing to do with the real world of being an entrepreneur, and the more mistakes you make, the more you grow, the better you get. As your lessons compound and as your growth expands, it’s fascinating because the businesses get bigger as you get bigger based on these mistakes, not because you did everything that you read in the book. It’s fascinating to process. It gets addictive.

It’s interesting because I find it addictive too. People asked me. I started my first company when I was 21 and this is my ninth and people say, “Why do you keep doing that?” I’m like, “I don’t know. It’s fun. It’s a game. It’s easy, it’s effortless, and there is a systematized pattern no matter what it is,” and I love that you used the word addictive because my husband said to me, “Are you ever going to stop?” and I’m like, “I can’t imagine.”

 

HPR 81 | Freedom From Money Bondage
Freedom From Money Bondage: Once you realize that failing is a verb, it is something that we do, it’s not who we are, you realize that’s the key to learning.

Why would you ever stop? You could play. You go to work, but you’re playing. Why would you stop doing that? That’d be crazy.

I am so with you on that. In the beginning when you and I were chatting, I said to you that I found you interesting and I’m going to explain what I mean by that and I mean that the audience would be engaged with you and here’s what I’m thinking. I believe that the audience wants to have more success in their businesses and at the same time, they want to have more juice out of life. You have this approach where you have a fulfilled life and you do it in an interesting way that’s different than others. Can you tell us what you’re all about in that area?

It’s important to understand where I started to get that foundational shift to where it is today. Back in 2000s, I spent about eight years building up a lot of money, a lot of wealth in my real estate business, and I had a $20 million portfolio that ultimately I lost in 2008 with the meltdown. When I lost that money, I lost my identity because everything was about success and it was about more. I wasn’t driving something that had a deep mission. I was driving things to find ways to consume more. When I lost that, I was lost. I spent a couple of years trying to figure out what to do and I had asked the question, “What is true?” When I did that, it led me to some other interesting conversations in finding out who I was.

Then I had this crazy painful moment with my dad a couple of months before he died where he looked at me and he said, “I had so many things that I wanted to do.” He was dying of cancer and I felt regret. I felt somebody that hadn’t lived all out, that hadn’t lived a mission, that hadn’t gone into the day with this fire, and I thought, “I’m never going to be in that position and I’m going to help as many people as possible to never have that situation happen.” At that point I realized, “I’ve got all this talent and I’ve got this ability and I’m not using it, so how can I use it and max it out and empower people.” That’s where the mission shifted to where it got created and it’s to free a million people from financial bondage and that’s what’s so fulfilling. I went from a place of success to where I get up and I can’t wait to do things and talk to people because I know this mission is being accomplished in my life matters with the empowerment of other people and the freedom from the financial bondage. That’s the shift that happened.

My mom died of emphysema in 1996 and she was literally my best friend on the planet and then my girlfriend died seven days later at the age of 40 of breast cancer. At the time, I was president of a national healthcare company and I had owned many of my own businesses and then got into corporate America and couldn’t figure out how to get out. I made the decision after I lost both of them and I transitioned, I said, “No, life has to be more delicious, more fulfilling, more juicy, and I’m going to go live a delicious life and it’s not going to be about working in this corporation.”

I quit and I started my coaching and consulting business on the dime, on the spot, right then and there. I relate a lot to, “I wanted to have people to have freedom in their life,” and freedom from being what I call a wage slave, so similar to your concept of money bondage. I wanted people to be able to have empowering businesses that they own and to create a life along with their businesses. Does that resonate?

It totally resonates. There’s a shift. I don’t know if you are doing this. A lot of us have done this or doing this. There’s this playing not to lose versus playing all out and playing. What you and I do is playing which everybody in the audience can do. If they’re not doing it, it is wake up and play and have a life where they’re so excited to be in it versus being in defense all the time. Unfortunately that’s how people end up playing. I see people in their twenties and they are playing it safe and they are afraid of venturing out and living something that’s heart-centered and I think, “Why? What are you afraid of?”

Is your amygdala so powerful that you’re afraid that a tiger is going to jump out of the woods? Granted, I grew up in Alaska so you could be eaten by the thing outside. There were bears out there, but if you don’t live in Alaska, you’re probably not going to get eaten by something. You’re letting your primal instincts trap you into something that never allows you to have a fulfilled life. You have to do something different than a knee-jerk reaction your way through life.

One of the things that you also said that woke me up, “Breaking rules and making more mistakes faster than the competition.” Can you expand on that?.

There’s a thing that we’ve attached to because of school where if three out of ten things are wrong in whatever you’re doing, you’re an average student. If you get half of them wrong, you’re a failure. We’re taught that failure is a noun and we identify with mistakes turning us into a failure. Once you realize that failing is a verb, it is something that we do, it’s not who we are, you realize that’s the key to learning because you don’t learn a whole lot when you win. It’s like, “Great,” but when you have pain associated with losing, and oftentimes that means losing money, you pay attention to it.

That’s one of the reasons that if you go hire a coach or a mentor and you’re paying a price, you’ll pay attention because there’s pain involved in not doing that. If it’s free, it doesn’t matter just like winning. Winning is like, “Ho hum,” but when you lose something, you’re gaining the lesson and the faster you can gain those lessons and the faster you can grow, it is the confidence muscle that’s expanding. That’s where the power is and that’s where you have these monumental leaps and the impact that drives a fulfilled life where you’re contributing. It’s not about being in a state of security and always chasing the defense.

HPR 81 | Freedom From Money Bondage
Freedom From Money Bondage: If you make an investment, you’re more committed.

As I’m thinking about my own life, a couple of mistakes that I made with my businesses that did cost me a lot of money and those lessons ended up being powerful because the next business and the next business were easier and better. The other thing that you said when we invest in coaching or consulting or whatever it is, we do take it more seriously. If you pay a weight loss program $5 a week and you’re about to eat ice cream, you’re probably like, “It’s $5.” If you’re paying a nutritionist a few thousand dollars, you’re probably more serious, more committed, and rethinking that. I also liked the bit about the confidence muscle.

When you have a mentor and you’re going into the darkness, you’re going into the woods, figuring out your stuff, you get to leverage off of their certainty around things so that you’re not always on edge. You can say, “I trust this person. I paid this person to help guide me,” and it allows you to move faster into that space of growth, so you’re not hesitating because you go, “How bad could this be?” The mentor’s job in large part is to do two things: one, to help you leverage from their mistakes so you can keep your knees attached to your legs; and the other thing is that they’re going to pull that inner guru that’s out of you because it’s often trapped.

It’s not that they’re necessarily super brilliant. I paid a mentor $10,000 a month about ten years ago, and we’d have a half hour conversation and that seems an insane amount of money for most people. I paid attention to that conversation so closely every month and it allowed me to accelerate everything I was doing. I combined years into months and that can do wonders for you, creating a life that doesn’t take decades; it can happen relatively quickly.

I always remember that I paid a consultant $25,000 for one hour of his time and everybody thought I was nuts and yet, I’m more than paying attention. I hung on every word, I took every action he said, and at the end of that year, I had made an extra million dollars all because of the $25,000 and because of how seriously I took that. I always say, “If you make an investment, you’re more committed.” In my experience, the mentor was so funny because I remember at the end of the session saying, “You’re so brilliant,” and he said, “No, I’m not. I have brilliant clients who are willing to invest a lot of money because they’re going to do what I say.”

That’s amazing and it’s funny if somebody is hesitating. I’ve seen this over the years, people hesitate to invest in a great coach or mentor and what that tells me is they’re not ready to commit to doing the work that they’re going to have to do and what they’re doing is they’re saying, “I’m not quite sure I’m going to do the thing.” It’s not about the mentor or the coach having the intelligence or the experience; it’s their commitment because once you commit, paying $25,000 to somebody is the go. It’s the trigger, the gun goes off and you’re off the races, but you got to pay the price. You’ve got to write that check to go up to the starting line and start the race. Otherwise, you won’t quite do it in and it’s a powerful trigger and only very few people do that because they’re afraid of whether they’re going to be committed enough.

How can people connect with you and get in touch with you? That your message is going to resonate to the Heartrepreneur audience.

The best way to reach out and connect with me is to go to DamionLupo.com. You’ll be able to get access to the work that I’m doing with the financial freedom of the planet and follow however it works for you. If you like Twitter or Facebook, whatever it is, it’s all there. You’re going to be able to download some of my books and you download them there. They are in e-form and whenever you’re ready to grab those resources, they’re going to be available for you.

Damion, I appreciate it. It’s DamionLupo.com. I highly recommend that you pay attention. Damion is on the cutting edge of where we need to be and how we need to be thinking and you can be more successful if you follow him. Damion, thank you so much for joining me on Heartrepreneur Radio.

Thank you, Terri. It has been a pleasure.

For the audience, make sure that you don’t miss an episode. If you didn’t subscribe, you could’ve missed Damion Lupo, so make sure that you do that. If you dig the show, please share it. Give us a five-star review, and if you like to read the episodes as an article, they appear on Heartrepreneur.com/Blog, so be sure to go over there and make sure that you catch them as well.

About Damion Lupo:

HPR 81 | Freedom From Money BondageAmerican Sensei. Yokido Founder. 5th Degree Black Belt.

Financial Mentor to Transformation Nation.

Best selling author in personal finance. Rewriting the rules and plan for retirement.

MISSION
To Free 1 Million from Financially Bondage.

A new 1% in America. I believe you have a right to live free from the financial shackles of uncertainty and bondage that trap most of society by a system of corruption, cronyism and mass marketing lies by the financial institutions who get richer while their customer gets poorer. I believe it is time for honesty, empowered main street and freedom from the system that feeds on the population. It’s time to choose. It’s time to be FREE.

FINANCIAL TRANSFORMATION
I believe every human has a life of freedom and joy awaiting once it breaks free from the confusion and chaos of financial illiteracy. By studying and applying my teachings and by answering the questions I ask that tap the inner guru inside every man and woman, we have the chance to tap into the space where all answers lie.

To inspire and empower every willing soul towards financial freedom and abundance through lessons, insights gained from 20 years of martial arts study, trench warfare and financial training wealth creation.

My love for and belief in you, my student combined with your desire to transform will create the confidence you need to live, to be Free.

FROM VICTIM TO VICTOR.
My work and philosophy is designed for the person ready to take action and to be accountable to a 10X vision. I believe in you and know you can create a rich life by DESIGN instead of a poor life by DEFAULT.

Are you ready to take responsibility for everything?

Wealth is a choice. My life is dedicated to guiding you to Financially Freedom – Financial Reinvention.

Your time is now. Are you ready?

Important links:
Love the show? Subscribe, rate, review, and share!
Join Heartrepreneur® Radio community today:
<---test

Leave a Comment

Your email address will not be published. Required fields are marked *

Do you want higher paying clients?Count me in