CFO of Gant Companies & Smart Money Management Derick Gant visits with SOB to talk about how we can accomplish tasks and achieve goals by being the best that we can be. He also shares his insight on money management. You can connect with Derick on Twitter and Instagram.
Style of Business
-Podcast Show Notes-
In this episode, Keetria interviews Derick Gant, founder and CEO of Smart Money Management, an organization helping people manage their debt and build wealth. Listen as Derick gives SOLID financial and business advice. He explains the importance of living “The 24K Life”—a life that is dedicated to being solid gold physically, mentally, and emotionally to name a few. Being at your peak trickles into all areas of your life and contributes to the success you so desire in life. So, tune-in as Derick describes the importance of physical fitness, what it means to live a balanced life, and some financial tips and tricks that will help you achieve freedom from the shackles of debt.
Time Stamped Show Notes:
- Keetria introduces Derick to the show
- Derick has been managing money, helping people get out of debt and building wealth for years!
- Two kinds of clients seek out Derick for advice:
1. Clients who have a large retirement fund and want optimal returns
2. The second type are those who need advice with managing their debt, fixing their credit, buying a house and/or retirement planning among other things
When a new client, Derick starts off with a discovery meeting to find out where the client currently is and where he needs to go financially
o Primary aim is to help clients manage their debts; debt shackles a client to a terrible way of living
- Misconception that rich people do not believe in watching their budgets; they know exactly how much they have and how much they are spending
- Even people who do not have enough money need to be a militant about sticking to their budget; learn to live WITHIN your means
o Plan for future purchases and avoid spending all you have in your checking account
- Derick explains the philosophy behind “The 24K Life”
o Be the BEST version of yourself physically, mentally, emotionally, financially, educationally and spiritually
o Maximize your gifts and talent to increase your value in the workplace
o If you strive to be 24 karat gold (purest form) in your life, then GREAT things are going to come to you no matter what!
- Realize your true potential by taking time to invest in yourself
- Nobody is going to hand you a bar of gold; you need to dig out the nuggets
- To be financially fit, you need to be physically fit
o Your outer world represents your inner world
o If you are fit, you are mentally sharper
o People judge you by your physical fitness
- Strive to be in great physical, mental and financial shape
o If you are unbalanced, you’re not going to be happy and productive
- Finding a coach is the best way to become physically fit; seeking out like-minded people is another way
o Know yourself, and avoid lying to yourself
o Invest in a coach or consider buying fitness books
- People who are sick of their life and know they deserve better are the ones that turn their life around
- You can be physically fit in spite of having a ton of responsibilities; you can do whatever you put your mind to
- Weight-loss tip from Derick: do not focus on how much you need to lose, just focus on your next meal
- Has a gift of taking complicated information, diluting it down to digestible bites for people to fix their lives
o Wants to genuinely help people get to the next level, so that they can help somebody else do the same
- Develop a great team of people to propel you on the path of high growth
o Invest in building relationships with your banker and accountant
o Find mentors who have done what you want to do; people love to talk about themselves, and finding mentors is not as hard as it seems
- Know your product inside out; if you don’t believe in your product, no one else is going to
- Challenges faced while setting up 24K
o Clearly communicating his thoughts to his prospective customers through his content was Derick’s greatest challenge
o Keep patience and believe in what you are doing
- Derick shares his social media experience
o Has solidified value face-to-face with prospects and clients
o Has a viewing audience of 25,000 across all mediums
o Got a chance to do a local Ted Talk because of his influential social presence
- Key components of entrepreneurial success
o Make your personal financial life as solid as you possibly can; make it your side-hustle and work it so hard that it becomes your main resource of revenue
o Set aside $10,000; the first reason why people fold is because they run out of money. Segregate your personal finances from your business. Make sure that if you use your new business as a second stream of income to get that started, then you will never jeopardize your primary source of income until you can flip your secondary with your primary
- “Anything will work if you do. So, roll up your sleeves, whatever it is that you are trying to do, and go to work. And, don’t quit. Don’t let anybody tell you, you can’t get it done”
- Connect with Derick on his website, Facebook, Twitter or Instagram
- Connect with Keetria through her website or Twitter
3 Key Points:
- You cannot be financially fit without being physically fit; strive to be in great physical, financial and mental shape.
- Make your personal financial life as solid as you possibly can; make it your side-hustle and work it so hard that it becomes your main resource of revenue.
- The first reason why people fold is because they run out of money—segregate your personal finances from your business and work to make your secondary source (the business) your primary source of income.