[00:00:00] Intro: Welcome to Private Banking Strategies Podcast with Vance Lowe and Seth Hicks, your secret weapon to protect your assets and never have to start over financially again Vance and Seth help high net worth individuals, families, business owners, and investors structure an asset-protected, tax-free fortress for their families.
[00:00:21] Intro: Learn how to keep what you earn and use the velocity of money to create your own private banking system. Join us on this journey as we explore the secret strategies of the rich and political elite and help you take total control of your financial security. Now, onto the show.
[00:00:38] Seth Hicks Esq.: Hello, and welcome to Private Banking Strategies podcast with Vance Lowe and Seth Hicks.
[00:00:43] Seth Hicks Esq.: Vance, how are you today?
[00:00:44] Vance Lowe: I’m doing wonderful, Seth. How about yourself?
[00:00:47] Seth Hicks Esq.: Doing good. Doing good. We’ve been talking about the investments that may be hiding right under your nose, and we’ve had a conversation about some of our clients and how they understand certain [00:01:00] investments better than Wall Street, and that is their own business ecosystem.
[00:01:04] Seth Hicks Esq.: And one of our primary examples, a shining star, is a dentist who came to us recently and said, “Hey, I’m looking for an investment opportunity,” and was considering various real estate opportunities and things that he really didn’t have any expertise in. And we began to look through his own business operations and found that he actually could manufacture pieces of dental equipment that he was outsourcing and finance that through his own bank and actually get a multiple touch on money already coming under his control, own the equipment, own the financing, own the interest payments, and begin to operate like a banking entity within his own dentist practice.
[00:01:46] Vance Lowe: See, if we go right back to the beginning, Seth, it reminds me of an old saying and a problem when we’re looking for this type of asset, this type of investment. I don’t know if you’ve ever heard it said, “Well, I’m looking [00:02:00] for a forest, but there’s too many trees in the road.” Okay? And when we are so close to something, our own company, our own business, many times we overlook an opportunity because we can’t see it with our own eyes.
[00:02:13] Vance Lowe: And this is a perfect example that you’re bringing up, yeah, and we should fully develop that so people can understand. But what they have in their own possession and their own circumstances probably could amount to a far more lucrative return on investment than anything else someone can imagine.
[00:02:32] Seth Hicks Esq.: One of the mistakes that we see is successful entrepreneurs, successful professionals, doctors, lawyers, dentists, chiropractors, or even other very successful business people in their lane try to take money they’ve earned and invest in some magic investment that they know nothing about, and go 100% into real estate when they’ve got no real estate experience.
[00:02:58] Seth Hicks Esq.: And many [00:03:00] times those don’t turn up the way that they were intended to turn up.
[00:03:04] Vance Lowe: That is so true. I’ve seen so many people make that type of mistake. They think because they’re successful at what they’re doing, they can- and also transfer that success into another category that they really have no experience being in and wonder why they lose money
[00:03:21] Seth Hicks Esq.: But on the success side of the equation, for example, our client who’s a dentist that we’re referring to understood that he was outsourcing manufacturing of dental equipment, that he could easily purchase the equipment through his own bank financing and effectively stop outsourcing that, bring it in-house, and that was the best ROI on available cash that he had.
[00:03:47] Vance Lowe: And see, that, that stemmed from a little technique that we taught in helping people take on this banker’s mentality. It’s called the what if situation. Our brains are always moving forward in our [00:04:00] capacity of what we’re doing. Well, I wonder if I could do this. I wonder if I could do that.
[00:04:04] Seth Hicks Esq.: A dentist or a doctor or a lawyer, they understand their patients and procedures.
[00:04:09] Seth Hicks Esq.: They understand their systems and potential equipment. Even in the context of a normal office, you’ve got leasing of equipment. You’ve got all sorts of expenses that are many times purchased through third parties, financed through third parties, and you’re losing the interest and the ability for your bank to make the interest in a tax-free compounding system.
[00:04:31] Seth Hicks Esq.: So discovering those opportunities is what we like to help our entrepreneurs, business owners, doctors, dentists, and even lawyers realize. And when they understand that and operate and replace those outside sourcings with internal ones, their wealth begins to snowball with multiple touches on the same dollars.
[00:04:52] Vance Lowe: Yeah. We take a look at the syndrome of the, of a mass amount of money filtering through the hands, especially these [00:05:00] dentists and doctors and their operations. Mega dollars are floating through their hands, and it’s just a process of how much of that they can keep, what opportunity they have to put new procedures in place to capture more of that.
[00:05:15] Seth Hicks Esq.: And it’s not an opportunity that comes from a hot stock- No, yeah … or some type of insider trading opportunity, but it comes from paying attention to where money is already moving within your business and being familiar with how you operate.
[00:05:29] Vance Lowe: It’s also the control. When we get a hot tip, it means we’re gonna transfer the control of our money to someone else.
[00:05:37] Vance Lowe: Now we’re in introduced risk. What we’re talking about here, Seth, is this is our control. This is our world. This is us putting the money to work and keeping total control of it.
[00:05:48] Seth Hicks Esq.: That’s right. So not leaving the circle of competence that the business owner professional has already. They just widen their expertise and competence, and that’s [00:06:00] how become more proficient in your investment than Wall Street is with stocks and equities.
[00:06:06] Vance Lowe: Oh, absolutely.
[00:06:07] Seth Hicks Esq.: So I wanna just highlight for a moment the false assumption that comes into- The business owners and some, some folks’ minds that a real investment has to be separate from the work that they do and created in some other class of asset, which is nothing further from the truth. We find the most success is when people use the excess capital and dry powder that they have in their own familiar asset classes.
[00:06:36] Vance Lowe: Yeah, it is. I’ve got a, a personal friend who’s a neurosurgeon, very successful, one of the top neurosurgeons in the United States, and he developed a bank- this banking concept. Pretty soon he not only owns his practice, but he owns a age intervention type of clinic, and now he owns the hospitals. And it just keeps going because it’s all [00:07:00] about what he’s doing and in his profession and the control that he can take on it, and it just…
[00:07:05] Vance Lowe: It’s amazing what one man can do in his lifetime when they’re dedicated- Yeah. Sometimes- … and they stay in their field.
[00:07:11] Seth Hicks Esq.: That’s right, in their field. Sometimes those opportunities, they come to, to folks disguised as expenses and bills, financing costs, lost margins that you can effectively create a system and strategy within your business so that it’s all flowing back into the main reservoir.
[00:07:30] Seth Hicks Esq.: And whereas an outside opportunity may be a polished pitch deck and, and perfect pro formas and no way that it could fail with your projections, but those often do fail, and it’s the inside opportunities that are most lucrative.
[00:07:45] Vance Lowe: Yeah, and it’s, it goes back to the question at the end of the day, who has control of the money?
[00:07:49] Vance Lowe: Where does the money end up? Money has no value, and if it’s within our control, the more we can exchange it, the more times it will multiply itself, and the more control we [00:08:00] have over it. So a lot of expenses can be looked at, what if I were to control? What if I was able to do this? This is where the opportunity lies.
[00:08:09] Vance Lowe: It’s well within your expertise and well within the stuff that you have to give up money or control of money in order for your business to function.
[00:08:18] Midroll: Did that story feel like it was about you? Do you feel like you are generating a lot of revenue, but are not moving forward as fast as you would like? Do you feel you should be making more progress toward your financial goals?
[00:08:33] Midroll: Do you feel stuck? Let us help you get unstuck. Are you ready to take action and get your own private bank? Please visit us at www.privatebankingstrategies.com.
[00:08:49] Seth Hicks Esq.: One of the things that we like to do that we did with our dentist client and friend is teach the one step away principle, and that’s deploying capital where existing [00:09:00] knowledge reduces unknowns and im- improves your control, like you’re saying.
[00:09:04] Seth Hicks Esq.: We map the money that is leaving the business, and equipment financing, equipment purchases, inventory, factoring, real estate costs, distribution, manufacturing, all those types of different aspects can be financed in-house many times. And when we begin to turn over those rocks and look, we can find the opportunities.
[00:09:26] Vance Lowe: Yeah, we sure can. Here’s a common one, Seth, that a lot of business owners know that a lot of times you start in business by renting your facility And then it’s very easy to understand and do the numbers. Well, what if I were to own this place? Now I can get, and I can get this, and if the building is large enough, I can lease out to other tenants and literally get the building overhead completely paid for.
[00:09:50] Vance Lowe: Okay, what equipment do I have? What do I have to purchase in order to operate business? What if I own that, and I depreciated that, and I [00:10:00] self-financed that?
[00:10:00] Seth Hicks Esq.: And that, I know that you had done that previously, owned the building and rented out commercial space to other business owners, and it didn’t distract from your core operation, core business.
[00:10:12] Seth Hicks Esq.: In fact, it created an economy of scales that was much easier to manage than, say, owning a apartment building in another state. It’s true. So and we find that with doctors too. Sometimes if they have a medical facility and they wanna create a medical office complex, and they can lease out to other medical business tenants, that it creates an economy of scale and works very efficiently.
[00:10:33] Seth Hicks Esq.: Folks, this is a short discussion on a deep topic, and we’re wanting to help our audience begin to reframe opportunities that come your way and begin to think like a banker in how you operate and think like a banker in how you keep control of the money that, that you earn. A banker will ask, “How do I create a cash flow repayment system?
[00:10:57] Seth Hicks Esq.: And how is the capital secured? What do we do [00:11:00] in downturns and operating structures?” It’s a different mentality than, “Oh, this is a great investment. I’m just gonna hand my money off to someone else.” Those rarely succeed.
[00:11:09] Vance Lowe: The banker’s mentality is so different, and I, I was surprised to learn at the beginning that there was that mentality and that it was a tight, tightly held secret.
[00:11:21] Vance Lowe: And because of that, and now that we understand that, bankers look at money totally different than the average person. It’s the asset. It’s the golden goose, so to speak. Once they get a deposit, once they get money and get control of it, they never, ever wanna lose control of that money, and it all focuses around the control, the getting it out to work, and getting it back in volume.
[00:11:45] Seth Hicks Esq.: The control improves the investment’s structure, and instead of having a grass is greener type mentality and the best opportunity perhaps with the polished slide deck and highest projected return, that’s often Doesn’t [00:12:00] hold water. It’s the one that’s right under their nose with the fewest unanswered questions and that they understand really well.
[00:12:07] Vance Lowe: And when it comes to financing, either with your own bank or with a real bank, the more that you have the control of it and it’s your industry and it’s your forte, the more people and investors are willing to buy into it if that’s what’s necessary. Right. When you go outside that, then you’re just another person, unskilled person throwing money at an opportunity.
[00:12:30] Seth Hicks Esq.: I wanna give our audience, invite them into this discussion that you and I have had and are putting out there for listeners to dig into. Folks within your own business, your own investment endeavors, I want you to review the 10 largest checks that your business wrote in the last year. And for each one of those big checks that you wrote, those 10 large checks over the last 12 months, ask this, this question: Could we own this asset, this expenditure?
[00:12:57] Seth Hicks Esq.: Could we provide this service that we’re paying [00:13:00] for? Could we finance this equipment or this purchase or this lease ourselves internally? Or could we negotiate a flow such that we’re getting multiple touches on the same dollar? And then ask the question, would doing so be outside of our realm of expertise and competence, or would it widen it and strengthen it?
[00:13:21] Vance Lowe: Yeah, either widen it or strengthen it, or just the opposite. Would it dilute and cause us a problem? Nobody seems to want to do this. That’s where I think we have a unique opportunity to help people expand. If the flow of money’s coming in and they want to do more things and they want to be more efficient and they want to be more profitable, there’s a big idea right here.
[00:13:41] Vance Lowe: Here’s the question, practical things to be asking ourselves right now.
[00:13:45] Seth Hicks Esq.: Yeah, so before, folks, you search out that next perfect investment, perfect golden goose opportunity, study where your current business is already sending the money, spending the money, financing. Purchases [00:14:00] and customer acquisition costs.
[00:14:01] Seth Hicks Esq.: Do an analysis on that and join us in this discussion. You can come to our website, folks, at privatebankingstrategies.com, and you- we’ve got a tool there in the bottom right corner called Put Vance in Your Back Pocket, and it’s a tool that we’ve built to help you explore these ideas and ask questions.
[00:14:20] Seth Hicks Esq.: And it’s as if you were on a private one-on-one call with Vance or I, as it provides you guidance through our content. We’ve got almost 200 podcasts and blog, article after blog article, and resources there that were built for you to help you understand and apply private banking strategies to your business and to how your family wealth can grow.
[00:14:42] Seth Hicks Esq.: Vance, any closing remarks today?
[00:14:44] Vance Lowe: No, I just think that today’s society puts us at plateaus where a lot of times we become complacent or we’re satisfied. But on the other hand, those who are entrepreneurs, those who are self business [00:15:00] owners, and they’re feeling successful, and they have excess flow that they want to put to work, there’s no schooling out there, there’s no process out there that to turn to to find a real advantage versus a, a risky opportunity.
[00:15:15] Vance Lowe: That’s what we’re talking about here, so there’s tools out there. Go to… Like I said, go to our website and see and get some questions answered for yourselves and see if there’s an angle or an opportunity you can pursue.
[00:15:27] Seth Hicks Esq.: And ultimately, folks, if you come to a place where this content’s resonating with you, you’ll have the opportunity to schedule an exploratory call with Vance and see how the actual application will work, and he will map out an eight-year plan for you that shows you step-by-step how to operate within what you’ve identified.
[00:15:48] Seth Hicks Esq.: And that’s available to you through emails that we send. So if you put your name and email and you’ll have the opportunity to schedule that call with Vance. And take advantage of these resources. They’re completely free to [00:16:00] you. There’s no charge for an exploratory call. There’s no charge for the AI tool that we’ve got that answers your questions, and we built it for you.
[00:16:08] Seth Hicks Esq.: So if the content resonates with you folks, subscribe, share the content, and see how it will work for you in an eight-year exploratory call. Thanks for joining us today, and we look forward to seeing you next time and joining you in on our discussion.
[00:16:24] Vance Lowe: Bye for now. Hope to see you again soon.
[00:16:26] Outro: Did that story feel like it was about you?
[00:16:29] Outro: Do you feel you should be making more progress toward your financial goals? Do you feel stuck? Let us help you get unstuck. Are you ready to take action and get your own private bank? Please visit us at www.privatebankingstrategies.com.
[00:16:50] Outro: Thank you for listening to the Private Banking Strategies Podcast.
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