Why Most Businesses Fail: The Secret to Succession Planning with Daniel Feman

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History Leader Insight.
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I'm Chad Coe with Co-Fanancial Group, where we talk about wealth that's different than what you normally do.
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Today we're going to dig in.
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I'm excited for our guest, Daniel Feynman, the founder of Build It Backwards.
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Daniel's the author of the book on succession planning systems.
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He's worked with companies in over 30 countries, from small businesses up to Apple Hilton, and he calls the lack of succession planning a ticking time bomb in most every organization.
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Welcome to the show.
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Thanks very much, Jad.
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I'm looking forward to our conversation.
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Well, with a big smile today, I think that we're going to have that, especially as we start to dig in how you got started.
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And then you've worked in over 30 countries.
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I'm fascinated to hear more about that.
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So share with us, if you will, how did you get started in the world of succession planning and commitment?
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Well, I was a commercial banker, but frustrated with the lack of my ability to really meet my clients' needs.
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So at one point, a variety of things came together.
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My wife suggested that I would do better in my own shop than working for banks that didn't appreciate it.
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So I took the leap.
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And if it wasn't for her, it never would have happened.
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But we started the organization with, let's see, no clients, no plan, and no money, because I was fully unprepared.
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And as I worked with clients over the years and saw what they really needed versus what they wanted, and saw what we were able to create for them, succession planning and transition planning, and we can separate those two, became a critical part of what more and more organizations needed and started to appreciate.
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So what is it like?
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As we kind of just talk about where you are today, where you've worked with companies like Apple and Hilton, and now you're saying obsessed with succession planning, but you know, you're working with some of these major corporations.
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What are you sharing the box?
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The major things that we share with these global thousand.
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I mean, I'm working with another one next week, is really the training side.
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Our practice is divided just about evenly into the consulting side and the training side.
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Many of the largest organizations in the world have the resources.
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They just need somebody to come in and point them in the right direction and give them a roadmap.
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So that's what I've done with some of these, you know, international organizations.
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The smaller firms that we typically work with, because most of our firms, Chad, most of our clients, are on the lower end of the middle market, if you will, typically under 200 million in annual revenues.
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We use the same models, we just scale them down.
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And that's how we've been very successful because we evolve the models since we've developed them over these years.
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Let's talk about what your bread and butter is and how you primarily help people.
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Is in this whole succession planning.
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And what we know is that when people don't plan for the future, it's a ticking time pretty helping people avoid the things that could go bad.
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Absolutely.
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That was the the whole impetus behind developing this.
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And if you look over my shoulder, you can see the book right there.
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It developed and evolved as I recognized that organizations weren't really planning any of their own future.
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So we designed it with the concept of future-proofing the organization, creating a legacy within the organization, whether it's public, private, government, for-profit, not-for-profit, et cetera, so that they could create the future for the organization that they wanted, regardless of where they were today.
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So that's one of the elements that I think is so critically important.
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And you start by saying, where are we today and where would we like to go?
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And then we craft, we build it backwards, a roadmap to get them from today to their ideal.
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So most people get stuck early on, meaning you have a founder, you have someone that's kind of like very rigid in the way that they are.
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The employees may not work well with them.
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It looks like you've come up with the five phases of succession planning, helping people to be able to build and operate a company that's scalable and sellable.
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Tell us how that evolved and let's go through some of the steps.
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Well, what is interesting to me is that, again, as you mentioned earlier, I've had the privilege of working in over 30 countries.
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And many people presume that business is done differently in different countries.
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And absolutely there are uniquenesses to every region and every country.
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But what is common is the lack of a blueprint, the lack of a roadmap to get a company from where it is to the next step.
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Most organizations are basically on a hamster wheel.
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It's today, it's this week, maybe even this quarter.
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So, what I recognized early on, and a number of my clients were generous enough to allow me to work with them, we said, how can we get you to an ideal situation?
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Let's assume that you could control things and you could create your own ideal outcome.
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What would that be?
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And so we really helped them, or in some cases, force them to create a vision, a true ideal horizon.
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From that ideal vision, we reverse engineer the roadmap to take them from where they are.
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And Chad, it's very important.
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This is not a two-week or a two-year journey.
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To really create your ideal succession, it should be 10, 20, even 30 years in the future.
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So you don't have to be limited by your beliefs today.
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It's what you would like to have happen, the ideal, the perfect.
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Because, Chad, your organization and you do great work on the financial side.
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If you could have everything you wanted 10, 20, 30 years in the future, what would that look like?
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And I'm not asking you right now, because we'd need to work on that specifically.
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But by writing that on the wall, it becomes more real.
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And then saying, okay, assuming you could achieve that, let's create the actual steps, the actions, the responsibilities, the metrics.
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And suddenly, even if you fall short, you're a heck of a lot further down the road than you would have been otherwise.
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So you're speaking my language now because I have the abundant life roadmap, and I truly believe that goals are one of the most important things you could have.
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And in the books I've written, I believe the universe conspires to make these things happen.
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There's some people who believe that, there's some people that don't, but I believe that by being focused on where you want to go, success is more likely to happen.
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And the fact that you are taking people through this plan and looking out not just three to five years, but 10 and 20 and even 30 years into the future about what you want is really big picture and something that's a gift to those people that let you take them through it, in my opinion.
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I completely agree with you.
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It makes people uncomfortable.
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Let's be honest.
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People, for the most part, don't believe that their unique business, and everyone has a unique organization, can possibly make those long-term plans because in their unique organization, and I hear this constantly, things change too fast.
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Well, the tactical elements, the little emergencies day-to-day absolutely do.
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But if you have that long-term vision, you can accomplish much more.
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And I'll draw a quick analogy.
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If you ever sail lake, particularly in the ocean, you don't go in a straight line.
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It doesn't work that way.
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You've got tides, you've got winds, etc.
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You're tacking and jibing and making constant adjustments, but you know where you want to go.
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And all of us would love to control our own future.
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So I say, great, write it down, commit to it, and we'll find a way to achieve it.
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I love everything that you're saying now.
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When you say build it backwards, we touched on it a few minutes ago.
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You have to touch on where you want to be and then work backwards to get there.
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Why do so many people build it forward and not take the time to build it backward?
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Perfect question.
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And the answer might or might not be obvious.
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The reason is that's how we're taught.
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We're taught, here's where you are today.
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What do you want tomorrow?
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What do you want next week?
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What do you want next month?
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It is natural.
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It's the way most individuals, most organizations have been trained throughout their entire career, formally or informally.
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I have always been a little bit of a contrarian.
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And I stumbled across this actually many, many years ago, and recognized that when I set a long-term goal, somehow I was even, again, falling short of it.
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I was further ahead than if I only worked with short-term goals.
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So I've incorporated that into each of our models.
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And as I've shared that with clients, the typical reaction after some period of implementation is damn, this works.
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Yeah.
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And not only does it work, but I'm going to encourage everyone to do it.
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But now we deal with a lot of business owners.
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We have a lot of them that are watching today.
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And I think they leave a lot on the table.
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They don't plan, like as an example for succession planning.
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So I'll give you an example.
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I worked with my grandmother.
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She was 88 years old.
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She ran a bookkeeping firm.
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She had no idea what the next thing was because she was going to work until she passed away at 99.
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I just met another friend of mine.
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He worked with his father with a company that had over 100 employees and they didn't get along.
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And the private equity comes in and buys them out.
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But it didn't have to be that way because it's it's about relationships and they struggle.
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Yeah.
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It's very unfortunate because I'm a firm believer that most of us, if not all of us, have the ability to accomplish more, but also create more options for ourselves.
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If we're on the hamster wheel, if we're only looking at today and tomorrow, that's what we're going to focus on.
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But if we can get people to recognize the benefit to them of focusing long term, whether they stay in the firm, whether they merge, acquire somebody else, change direction, or sell, it gives them more options because the organization is stronger financially, operationally, reputationally.
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There is no downside other than a little bit of time invested to create your own success.
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Yeah.
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So you say that every executive will be remembered for what happens after they leave, but I think that founders and visionaries don't feel that way.
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I think that they lose their identity, they don't have hobbies, they're frustrated with what would happen after they retire.
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They hear that their friends retired and then they passed.
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So I'm saying to myself, I don't know if I care about my legacy.
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Some even say I'm dead.
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Why do I care?
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So what are your thoughts around this whole legacy?
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And then I want to talk about how they could better get along with the people that are most important to them.
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Okay.
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Well, having seen a number of organizations fail after they lose their founder, and put good, honest working people out to pasture on the street, I say this doesn't have to happen.
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Organizations, they're made up of individuals, a founder or second, even third generation, whether it's family-owned or not.
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If we want the most for ourselves, if we want the most for the organization, that doesn't come from luck, that comes from planning.
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And if you plan to, well, let me back up.
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Every one of us is going to leave our organization, Chad.
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The question is vertically or horizontally?
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So I don't want to die behind my desk.
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Right.
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But I want to have the organization be as strong as it can be when I leave it.
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Maybe that's my ego, maybe that's something else.
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So the founders that say, I don't care, I'm going to be dead.
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Well, it sounds like they plan to die at their desk.
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My goodness, all the things that they could have done and enjoyed, they're giving up when they don't have to.
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They can have both.
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Succession planning, Chad, is for the future proofing of the organization strategically long term.
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Transition planning is where we sit down with you, the founder or C suite member, and plan your next chapter so you can get the best of your life individually as well as organizationally.
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I like what you're saying.
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Now I want to talk about why so many of these people that found companies, and again, not the ones that buy and sell, but the ones that have actually built something and they want it for their next generation or their future.
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Why do you think so many founders, CEOs, presidents have a hard time talking about money with the generation below them, with their kids, with the family members that are most important to them?
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As a matter of fact, Daniel, I think that it's a statistic that companies might go second generation, but they very rarely go third or fourth generation because people come in and they weren't trained from the first generation.
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Extremely critical point.
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So often, what I have seen is founders have a difficult time outgrowing their entrepreneurial mindset.
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They don't typically bring in professional management to take the organization to the next level.
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So you and I found a company and we do extremely well.
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And it's 10, 15, 20 years down the road, we still, believe it or not, have some concern about starting and running the company.
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We have this entrepreneurial mindset.
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We aren't trained as professional managers.
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So we're not as objective as we might be.
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Talking money is always an uncomfortable subject, particularly with the next generation, let's say with our children.
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And if we don't or are not forced to have a legitimate, comprehensive series of conversations, usually that are guided by somebody, the next generation is not going to be ready, willing, or able to take the reins and continue the growth.
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So to your point, yes.
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I read something not long ago that less than 3% of family-owned organizations make it past the third generation.
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Yeah.
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First generation goes.
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Yeah, as an example, I have kids in my, in my three boys.
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I thought they'd come into my company.
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They're not necessarily interested today.
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I hear it from a lot of other people.
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And once in a while, someone's able to have their children come in and where you could have a mature relationship around it.
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But in many cases, we we just don't see it.
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So the other question I like to ask is people's childhood, whether it's yours or the founders, do you find that people that have a harder childhood achieve differently and maybe become stronger, better, faster than those people that had an easy gifted childhood with everything that just kind of worked their favor?
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That's a very interesting question.
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I don't have any scientific data, but I can give you some anecdotal observations.
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Those people that had to work for it, those people that had to figure it out, those people that had to find a way to succeed in spite of, typically, in my experience, have done better for longer.
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Those people that are gifted something don't have the drive, haven't typically had to work for it.
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So they don't appreciate the value there, not the cost, but the value.
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So yes, I have seen in my experience a true difference.
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So when you think about leadership, what's a defining moment that shaped your philosophy?
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Probably it was when I was working in a factory in undergraduate school.
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Okay.
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I had a manager who was didn't graduate high school, but had a lot of street smarts.
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And he confronted me at one point to make a decision on who we should promote within the department.
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And I decided I was gonna take all of my knowledge, which was almost nothing.
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I was 19 years old, all my experience, and analyze the the guys in the team.
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And I took more and more and more time, and he finally came to me and said, Look, give me a decision or you're fired.
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And I panicked and I blurted out a name.
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And he said, Interesting, and he walked away.
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Now I know I'm gonna get fired.
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A few hours later, we're done for the day.
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He comes over and he said, What did you learn today?
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I don't know.
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He said, Making a decision is critical.
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If you make a good decision, you move forward.
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You make a bad decision, you can change it.
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No decision stops progress.
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He said, If I can teach you one thing, make a decision and move forward.
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That was critical to me.
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So, you know, you're working with a lot of corporations, a lot of people that have a lot of answers, but you have to have a pet peeve.
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What are people doing inside of corporate America that's a pet peeve of yours and bothers you and wishes they would change it?
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One of my pet peeves is people talking about doing what's good for them, but never getting around to doing it.
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I have talked to three different prospective clients in the last two weeks who absolutely knew they needed to do and wanted to do their own commitments, Chad.
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Succession planning for the firm, transition planning for themselves.
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They asked me for a proposal.
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I gave them a proposal, and in each case, I said, great, when I can get around to this, I'll call you back.
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Yeah.
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When I get around to it.
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And they don't ever get around to it.
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We deal with a lot of people that need the it takes a special person to say yes.
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And if everyone's listening to this show, start to say yes.
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You're going to see a lot more progress and have a lot more fun in life as new opportunities show up.
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That's why they call it improv.
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It's yes and instead of saying no all the time.
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Very true.
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So, what are you most passionate about right now in your work life?
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Are you doing anything today that's really driving you?
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Because a lot of people I find reach plateaus or they get bored with what they're constantly doing and they're not passionate.
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Well, the reason I keep working with clients, the reason I keep writing books, the reason I keep doing podcasts like this is because I'm truly passionate about making a sustainable difference with clients.
00:21:18.640 --> 00:21:21.279
I want to be able to sit down with a client.
00:21:21.519 --> 00:21:25.759
Let's say you decide that you want to engage us, Chad.
00:21:25.920 --> 00:21:27.200
I'm going to challenge you.
00:21:27.279 --> 00:21:28.559
I'm going to bring our tools.
00:21:28.640 --> 00:21:40.480
I'm going to work with you and your team to lay out your success roadmap to optimize what you can do in your firm and what you can do for your clients.
00:21:40.720 --> 00:21:44.880
So I'm touching not only your firm, but your clients.
00:21:45.279 --> 00:21:49.839
And I was asked recently what legacy I wanted to leave behind.
00:21:50.079 --> 00:21:58.400
And it reminded me of Krista McAuliffe was the teacher that went up in the Challenger spacecraft that blew up, unfortunately.
00:21:58.559 --> 00:22:02.880
And she said, I touch the world I teach.
00:22:03.279 --> 00:22:12.960
My passion is to teach organizations and teach their leaders how to create and sustain better organizations for generations.
00:22:14.480 --> 00:22:17.839
So some of my guests have been able to answer this and others haven't.
00:22:18.000 --> 00:22:23.200
But I find that a lot of entrepreneurs and business people look at their business as the retirement plan.
00:22:23.359 --> 00:22:38.319
And I look at money and entrepreneurs as you have to have a balance, that you have to put away money in your retirement accounts and you as well as know that when you sell your company or transition your company, you're going to have some money there for your retirement.
00:22:38.559 --> 00:22:44.319
What are your thoughts around founders and entrepreneurs when it comes to paying themselves first?
00:22:45.440 --> 00:22:55.920
Well, it goes back to the millionaire next door, was the first time I read the concept of paying yourself first, living below your means, and living on a budget.
00:22:56.160 --> 00:22:59.759
And I went, wow, that makes a lot of sense.
00:23:00.319 --> 00:23:09.039
Many, many entrepreneurs, founders, C-suite occupiers, I don't think really appreciate that.
00:23:09.839 --> 00:23:13.519
And I just finished reading The Richest Man in Babylon.
00:23:13.839 --> 00:23:16.799
And that is one of the concepts in that book.
00:23:17.200 --> 00:23:17.759
Good one.
00:23:18.000 --> 00:23:18.480
Yep.
00:23:19.200 --> 00:23:20.640
Yes, it sure is.
00:23:20.880 --> 00:23:23.839
And so I'm just about to write a review of that.
00:23:24.079 --> 00:23:26.400
But it's a matter of education.
00:23:26.720 --> 00:23:34.559
The financial education in this country, I think, is lacking when it comes to teaching some of the fundamentals.
00:23:34.799 --> 00:23:53.519
If we could get everyone in school to appreciate the concept of paying yourself first, living on a budget, some of those basic principles in both of those books, then people could have the financial balance that's you talk about so often that is so critically important.
00:23:53.839 --> 00:23:54.480
Yeah.
00:23:55.599 --> 00:23:56.720
No, they definitely do.
00:23:56.799 --> 00:24:01.519
What do you think keeps people from delegating and feeling like they need to do it yourself?
00:24:01.920 --> 00:24:03.279
And your smiling is huge.
00:24:03.359 --> 00:24:04.240
I love it.
00:24:04.960 --> 00:24:05.599
Ego.
00:24:06.559 --> 00:24:11.279
I think a big part of it, Chad, is I can do it better than anybody else.
00:24:11.440 --> 00:24:19.519
So rather than my taking the time to teach someone or taking the time to delegate, I'm just going to do it.
00:24:19.920 --> 00:24:29.759
Well, my response to that is when God gives you more than 24 hours in the day, then maybe you don't have to delegate.
00:24:30.240 --> 00:24:38.319
But a smart leader recognizes that they're not the best at everything, they're the best at some things.
00:24:38.960 --> 00:24:44.480
So I coined a phrase many years ago: do what you do best and hire the rest.
00:24:44.960 --> 00:24:49.039
And I think it's critical to delegate everything you can.
00:24:51.519 --> 00:24:55.759
You know, I'm with you on that because it's the one thing that you could delegate.
00:24:55.839 --> 00:25:11.599
You could help you like the bottom line is you could read a book, but if you don't have someone like yourself asking the questions and listening and caring about who they are and what they stand for and what they want, I think you just end up waking up every day being very repeatable, doing the same thing that you always did.
00:25:11.839 --> 00:25:26.079
I love the idea of coaches, mentors, and guides, even the authors and the people who have really dug in to help these CEOs, presidents, and founders who get stuck, they're not happy, they're working way too many hours for not enough money.
00:25:26.319 --> 00:25:31.119
Some of their employees are making more than them, and it gets to be really frustrating.
00:25:32.000 --> 00:25:33.599
Yeah, I don't disagree.
00:25:33.680 --> 00:25:35.920
I mean, you see the bicycle over my shoulder.
00:25:36.160 --> 00:25:37.920
That's actually a Lego.
00:25:38.079 --> 00:25:44.640
I am a cyclist, and there are times that I will get worn out or frustrated or something's on my mind.
00:25:44.880 --> 00:25:48.799
I literally go jump on my bike and go for a ride.
00:25:49.039 --> 00:25:52.319
Let my subconscious kind of cogitate on things.
00:25:52.559 --> 00:25:58.319
And when I come back, invariably I've got a thought that I'm going to try to implement.
00:25:59.200 --> 00:26:04.400
We all are good at something, but none of us are good at everything.
00:26:04.640 --> 00:26:07.200
So find what you're particularly good at.
00:26:08.079 --> 00:26:13.599
Find who in the room is smarter than you on those other things and optimize.
00:26:13.680 --> 00:26:21.440
And this comes from creating a plan, even if it's aspirational, implementing the plan, making adjustments.
00:26:21.519 --> 00:26:24.240
And my goodness, we can do better.
00:26:24.720 --> 00:26:25.759
We can do better.
00:26:25.920 --> 00:26:37.519
And with riding your bike and taking the time to actually meditate while you're putting the bicycle Lego together, you're thinking about abundance and what life looks to you like when you're actually living the life that you chose.
00:26:37.920 --> 00:26:42.400
And from the amount of times you've smiled during this podcast, I think that you live an abundant life.
00:26:42.480 --> 00:26:44.400
What does abundant life look like to you?
00:26:44.480 --> 00:26:48.559
And what do you wish abundance looked like to your clients that worked with you?
00:26:49.200 --> 00:26:52.240
Well, I'll break that into two separate elements.
00:26:52.559 --> 00:27:21.279
Having a nice home that we've worked hard to achieve, having a loving spouse and partner, being able to appreciate our children, having a business that I really appreciate and enjoy working in and sharing with others, and being financially secure because I kind of followed some of the rules we talked about earlier.
00:27:21.599 --> 00:27:25.440
And no, I didn't get a Rolex watch the first time I got a bonus.
00:27:25.680 --> 00:27:27.599
In fact, I don't own a Rolex watch.
00:27:27.759 --> 00:27:32.640
I have a couple of nice watches, but we tried to live within our means.
00:27:32.960 --> 00:27:41.599
And going back to that particular book, it allows you to be in a position where you have independence.
00:27:41.759 --> 00:27:42.880
That's abundance.
00:27:43.039 --> 00:27:48.559
And yes, I do meditate every day because it helps get my mind straight.
00:27:48.960 --> 00:27:56.240
So family, friends, home, and oh, by the way, enough money so we can be comfortable.
00:27:56.400 --> 00:27:59.599
That's so when you make decisions, Daniel, to hire someone.
00:27:59.759 --> 00:28:02.720
Well, a financial advisor, an attorney, an accountant.
00:28:03.279 --> 00:28:06.880
What goes through your head when you're wanting to, or even a consultant like yourself?
00:28:06.960 --> 00:28:10.319
What goes through your head when you need and want to hire someone yourself?
00:28:10.480 --> 00:28:13.359
What are some of the things that people should be asking or think about?
00:28:14.480 --> 00:28:16.000
Are they ethical?
00:28:16.880 --> 00:28:20.480
Are they going to teach me something that I don't know?
00:28:21.039 --> 00:28:27.039
Are they going to give me direction but allow me to make the decision?
00:28:27.359 --> 00:28:29.839
And do we have reasonable chemistry?
00:28:31.599 --> 00:28:33.119
Those are all really great.
00:28:33.200 --> 00:28:36.480
And I think part of it is the chemistry and do you relate to each other?
00:28:36.640 --> 00:28:44.000
Very different than when you inherit somebody or inherit an accountant or you work with the person you hired and then they pass you down to someone else.
00:28:44.160 --> 00:28:45.279
It's not the same.
00:28:45.440 --> 00:28:50.640
Like as an example, I have ADD and I talk fast and I kind of like get interrupted and do things.
00:28:50.720 --> 00:28:52.720
But people that hire me like that.
00:28:53.119 --> 00:28:57.920
Very different than the person who's very methodical, very slow, and likes to have two-hour meetings.
00:28:58.079 --> 00:29:01.440
It's not the same as the person that they hire.
00:29:01.519 --> 00:29:06.880
So I do like the way you said that, and I appreciate you putting that out into the audience.
00:29:08.000 --> 00:29:10.400
So now it's time I want to transition over.
00:29:10.559 --> 00:29:14.319
You've written three books and you've done extremely well with them.
00:29:14.480 --> 00:29:16.960
They've been very highly recommended.
00:29:17.119 --> 00:29:21.359
Share with us, if you will, each book and what they stand for to you.
00:29:22.319 --> 00:29:22.640
Okay.
00:29:22.880 --> 00:29:30.880
Well, the one in the middle, the improving productivity by fair means or foul, came almost as a whim.
00:29:31.519 --> 00:29:37.039
My co-author there, Tony Miller, is considered a global expert on HR.
00:29:37.200 --> 00:29:40.720
And the idea of this came when we were having dinner one night.
00:29:40.960 --> 00:29:42.799
We wrote it almost on a whim.
00:29:42.960 --> 00:29:52.400
There is a disclaimer halfway through the book because there are ways that are productive ways to increase in increase productivity.
00:29:52.480 --> 00:29:54.880
And then there's questionable ways.
00:29:55.039 --> 00:29:56.880
So we put a disclaimer in there.
00:29:57.119 --> 00:30:03.440
The one on the right, the book on business, was one of the more interesting collaborations I've ever had in my life.
00:30:03.680 --> 00:30:12.000
I made the mistake of bringing in 16 colleagues, all experts in their area, and we collaborated in each of the 26 chapters.
00:30:12.079 --> 00:30:13.920
This is more like a desk reference.
00:30:14.400 --> 00:30:16.559
But I did learn one thing, Chad.
00:30:16.799 --> 00:30:19.599
I like working with one co-author.
00:30:20.160 --> 00:30:25.839
It's impossible to work with a dozen because everyone suddenly becomes an expert.
00:30:26.240 --> 00:30:27.200
Everyone's an expert.
00:30:27.279 --> 00:30:27.839
I hear you.
00:30:28.160 --> 00:30:28.400
Yeah.
00:30:28.559 --> 00:30:32.880
But the one on the left, the succession planning system, that's our most recent book.
00:30:32.960 --> 00:30:44.559
And that's the one that seems to be in greatest demand right now when we're working with many, many organizations on their succession plans and their personal transition plans.
00:30:44.720 --> 00:30:47.599
And the model of that came right out of this book.
00:30:47.680 --> 00:30:52.160
So that's our real, if you would, our hot button today.
00:30:52.319 --> 00:30:54.640
That's what seems to be in the greatest demand.
00:30:54.960 --> 00:30:57.440
And where does people where do people find these books?
00:30:57.759 --> 00:31:00.559
Well, you can get everything, of course, on Amazon these days.
00:31:00.799 --> 00:31:06.960
Barnes Noble, I think, carries the the succession planning and the the business desk book.
00:31:07.279 --> 00:31:10.160
And anywhere else that you buy books.
00:31:10.720 --> 00:31:11.200
Beautiful.
00:31:11.359 --> 00:31:12.640
What about build it backwards?
00:31:12.720 --> 00:31:14.799
Are they able to get the books on your website?
00:31:15.359 --> 00:31:16.480
Yes, they can.
00:31:16.720 --> 00:31:23.440
And anybody who has a challenge, if you can't find the book, give me a call, send me an email.
00:31:23.839 --> 00:31:25.920
I'm happy to help you.
00:31:26.240 --> 00:31:32.480
And what I do with my clients is believe it or not, clients still like signed books.
00:31:32.640 --> 00:31:37.359
So typically when I get engaged by a client, they say, Daniel, can I have a signed copy?
00:31:37.440 --> 00:31:42.160
And I said, okay, it's not going to add any value, but I'm happy to sign it over to you.
00:31:42.480 --> 00:31:42.960
You know what?
00:31:43.039 --> 00:31:45.200
There's something special about signed anything.
00:31:45.359 --> 00:31:46.960
And I want people to know too, right?
00:31:47.039 --> 00:31:50.319
They can reach out to you via email, they can reach out to you on LinkedIn.
00:31:50.480 --> 00:31:51.519
We're consultants.
00:31:51.599 --> 00:31:53.039
We're here to be able to help people.
00:31:53.200 --> 00:31:54.880
This isn't a one and done.
00:31:55.039 --> 00:31:58.000
We're doing the podcast because we want to bring value to you.
00:31:58.160 --> 00:31:59.920
That's what we care about most.
00:32:00.799 --> 00:32:09.759
And as a cyclist, as we continue to transition in our in our interview, what kind of hobbies do you have other than bicycling that you want to share with us?
00:32:10.480 --> 00:32:13.279
Well, believe it or not, I've turned into a gardener.
00:32:13.519 --> 00:32:16.960
We we moved back in April.
00:32:17.119 --> 00:32:20.559
We moved from, we had lived to the beach for the last 24 years.
00:32:20.799 --> 00:32:25.200
We moved back to Westlake Village, and we have a real backyard now.
00:32:25.359 --> 00:32:31.440
So yes, we're growing vegetables, we're growing roses, I've got nine fruit trees.
00:32:32.000 --> 00:32:34.720
So yes, that I find it relaxing.
00:32:34.880 --> 00:32:40.000
It is somewhat meditative, but I also I get to eat what I grow, which I think is important.
00:32:41.440 --> 00:32:52.240
And music is another very important feature for me, very important habit or or hobby.
00:32:52.640 --> 00:33:09.680
And the only unfortunate thing about that chat is I've reached that age where some of my favorite bands, you know, they all break up when they're young in theory, but some of them, the members are passing away, and that's not good.
00:33:10.960 --> 00:33:12.000
So I'm very fortunate.
00:33:12.160 --> 00:33:16.720
JJ French from Twisted Sisters is going to be on the podcast coming up here in a few weeks.
00:33:16.799 --> 00:33:18.160
So I'm looking forward to that.
00:33:18.480 --> 00:33:20.079
That'll be great.
00:33:20.720 --> 00:33:21.519
I hope so.
00:33:21.680 --> 00:33:23.519
I hope my equipment works.
00:33:23.920 --> 00:33:28.400
But it seems thank you so much.
00:33:28.559 --> 00:33:33.440
So, what are some of the favorite movie or genres and music that you like?
00:33:33.680 --> 00:33:35.440
Music and movies that you like.
00:33:35.599 --> 00:33:38.559
Give us a couple and then we're gonna continue to move on.
00:33:38.960 --> 00:33:46.640
Well, I'm a big Eagles fan in all iterations of that group.
00:33:47.279 --> 00:33:49.119
I'm a big Queen fan.
00:33:49.279 --> 00:33:53.839
It's I thought Freddie Mercury was an amazingly interesting character.
00:33:53.920 --> 00:33:55.839
And let me give you one quick anecdote.
00:33:56.079 --> 00:34:02.240
Yeah, one of the greatest jazz festivals in the world is in Mantreux, Switzerland, right on the lake.
00:34:02.559 --> 00:34:08.800
And I went there when I was teaching in Geneva, took the train up, and was rather surprised.
00:34:08.880 --> 00:34:20.400
There's only one life-size brass statue in front of the music hall in Mantreau, and it's not of any John Cole train or any of the other jazz legends.
00:34:20.639 --> 00:34:22.320
It's Freddie Mercury.
00:34:23.360 --> 00:34:27.199
I don't know why, but I found it fascinating.
00:34:30.239 --> 00:34:30.639
Yeah.
00:34:30.880 --> 00:34:36.079
I think he's fascinating and just extremely confident and different than today.
00:34:36.159 --> 00:34:43.199
These people grew up and spent their 10,000 hours doing what they loved versus what they thought that they had to do to get where they wanted to go.
00:34:44.000 --> 00:34:45.679
Which I think makes a big difference.
00:34:46.719 --> 00:34:48.719
So I do want to wrap up, Daniel.
00:34:48.880 --> 00:34:58.559
You've been a great guest, and I would wish that everyone reaches out to you at Daniel Feynman at builditbackwards.com.
00:34:59.119 --> 00:35:07.599
You're talking to someone that's going to help you build your business, help you build it for the future, and do it in a way that's going to be fun and that's going to work.
00:35:08.639 --> 00:35:10.800
And so that's that's the Daniel.
00:35:10.960 --> 00:35:17.920
Now, for me, Cofinancial Group is in business to be able to help you with consulting, with financial planning.
00:35:18.159 --> 00:35:26.320
We actually have the abundant life roadmap where we take you through your values and your goals to help you reach your financial plan and your destination.
00:35:26.480 --> 00:35:27.760
We don't take it lightly.
00:35:27.920 --> 00:35:35.119
At cofinancial.com, you can also download my book, Your Financial Dream House, creating abundance through smart planning and investing.
00:35:35.360 --> 00:35:37.360
We do the podcast to be able to give back.
00:35:37.519 --> 00:35:39.440
We have incredible guests on this show.
00:35:39.679 --> 00:35:47.119
Daniel is one of them, and we want you to go out and to be able to watch what he's doing, check out his website, and to get his books at Amazon.
00:35:47.280 --> 00:35:50.800
Or on his website where he'll sign it for you and then send you a copy.
00:35:51.039 --> 00:35:52.239
Daniel, it's been a pleasure.
00:35:52.400 --> 00:35:54.320
Thank you so much for being here today.
00:35:54.639 --> 00:35:56.159
Chad, thank you very much.
00:35:56.320 --> 00:35:57.440
This has been a pleasure.
00:35:58.079 --> 00:36:00.480
Well, you've been a great guest, and thank you again.
00:36:04.800 --> 00:36:06.159
So hold on for me.
00:36:06.400 --> 00:36:08.320
One, two, three.