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39 An Entrepreneurial Take on the Do’s and Don’ts of Financial Podcasting

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39 An Entrepreneurial Take on the Do’s and Don’ts of Financial Podcasting

 

Kurt Dupuis:
Welcome to The Whole Truth, where two wholesalers help financial professionals build great practices and thrive in a rapidly changing industry. We'll bring you the stories and voices from those on the front lines of this change. And we'll have some fun along the way.

Steve Seid:
This is more than a podcast. We're building a community of financial professionals who are growing, forward thinking, and want to get better. Thanks for listening and contributing to the discussion.

Disclosure:
The views expressed herein are those of the participants and not those of Touchstone Investments.

Steve Seid:
Now welcome everybody to the whole truth from the bay area, California. I am Steve Seid.

Kurt Dupuis:
And from the reigning world series championship, Atlanta Braves, I'm Kurt Dupuis in Atlanta.

Steve Seid:
The whole year, that's what's going to happen.

Kurt Dupuis:
Well, I've done it a few times now...

Steve Seid:
That's true.

Kurt Dupuis:
And I think it's building moment... Its like, on the show.

Steve Seid:
I'm just jealous. All my teams are such a gigantic mess that, I'm jealous of anybody that's experiencing any kind of success. Are you a basketball fan? I don't even know if you are.

Kurt Dupuis:
Oh, that's like a tier two or three sport for me.

Steve Seid:
A tier three. Yeah. Yeah. Well

Kurt Dupuis:
I'll watch March madness and I'll watch like the finals in the NBA that's that's about it. Hawks had a run last year. I kind of got into it.

Steve Seid:
Hawks - a good team…. scrappy

Yeah. Yeah. I get that. I won't spend extensive time, but as we record this, I'm a Brooklyn Nets fan and our boy James Harden, I think it was less than a year after he complained his way out of Houston to come to Brooklyn, now has complained his way out of Brooklyn. So

Kurt Dupuis:
But you've got Ben Simmons.

Steve Seid:
Yeah. I mean does Ben Simmons even play basketball? I hope, we think, maybe.

Kurt Dupuis:
He doesn't shoot well. And I'm an LSU guy. I still have to say that.He definitely needs some work.

Steve Seid:
Listen, if you start talking yourself into, into potential here. So of course I'm like, yeah, you know, ideal Ben Simmons, but this is not a basketball podcast. So we will quickly...

Kurt Dupuis:
Not yet.

Steve Seid:
...chop that off. Not yet, I want to take it in that direction, but this is a phenomenal episode. We have a financial professional on by the name of Lee Michael Murphy, great interview really enjoyed him. Fantastic guy. And the reason that we had him on is we are looking to have more financial professionals on, but particularly people that are doing really innovative and different things. And in the case of Lee, he started his own podcast and they are a hundred plus episodes in, it's called The Free Retiree Show. He's on it with, with two of his colleagues. It's clear to me that they, you know, they're friends, that's clear because it's a very entertaining show. They have great, great banter back and forth. Really entertaining to listen to. We wanted to basically have him on and say, okay you started your podcast, you're a financial professional. There's not a million of those types of podcasts. We've talked to one in Brian Doe, but there's not that many particularly ones, any that we can see that goes, you know, beyond a hundred episodes. So we were dying to have him on and just ask him some questions.

Kurt Dupuis:
One of our missions with this show is to bring the stories and the voices of people on the front lines right? This industry's changing all the time, so Lee Michael Murphy checks both of those boxes. So his story is interesting. So we get into how he got into the business, but really, we kind of tried to get him to create a checklist or like a do's and don'ts if podcasting is something you're interested ...actually this week I had a guy say I've always wanted to do that. I've always thought about that. And it's like, well, great. We have a show coming out with a peer of yours that talks about his experience. So anybody that is doing anything creative, I think will benefit from this. But particularly if you're going down the podcast route a lot of do's and don't a lot of lessons to be learned and you could learn it by listening to this rather than doing it yourself. So with that being said, we'll get into our interview with Lee Michael Murphy as always please subscribe, tell your friends about the show, leave us a review that helps other people find the show and reach out to us with any comments, questions or basketball?

Steve Seid:
Yeah. I'll take those questions.

Kurt Dupuis:
Sure. All day. The whole truth@touchstonefunds.com. Shoot us an email. And here is our interview with Lee Michael Murphy.

Steve Seid:
We are absolutely delighted to have Lee Michael Murphy on the show. Lee, thank you so much for taking a few minutes to chat with us.

Lee Michael Murphy:
Oh thank you guys. It's an honor to be on your podcast. Appreciate it.

Steve Seid:
One of the big reasons we wanted to have you on is you're a financial professional.

Lee Michael Murphy:
Yeah, I think we just passed ten years officially in the industry. So been at it for a while, but yeah, been a podcaster for about two and a half years now.

Steve Seid:
That's kind of what we wanted to talk to you about is podcasting as a medium. And it's not that hey, every financial professional needs to go out and start a podcast, but it is a pretty good medium for connecting with an audience in a different way. And, and we really want to get into that with you. So let's start with your story first as a financial professional, how'd you get in the business?

Lee Michael Murphy:
You know, for me, I think I was one of the weird ones I figured out that I wanted to be in this profession probably when I was twelve. I figured it out. Then I was like, I wanted, I didn't know what it was called but I knew...… that I wanted to go that route. But the reason that was is, my grandfather, he came to the country way back when, he didn't have any money. And he became very successful through his investing. He invested in real estate, invested in stocks, securities, that sort of thing. And he made a lot of money.

And with that money, he was able to send my sister and myself to private school. I mean, he paid for our education. So looking back through my childhood, I was definitely a misled kid. And if I had probably gone to some of the schools that were there or didn't have the money to go to these nicer places, I probably would've run into some problems.

Steve Seid:
Yeah.

Lee Michael Murphy:
And I didn't realize that part then, but as I got older, I was like man what my grandfather gave me was such an amazing gift. To be able to give us this education, create opportunities that weren't there and that came through money. And so money you know, as you guys know, it's not the end all be all, but man, it sure does give you... That's the truth of it does give people a lot more opportunities. And I figured, man, what can I do to give that gift to other people? And so from an early age, I was like, I want to do that, but I don't know what that is. And then as I progressed, I figured out, oh, you know, that's, there's a career for that. It's called financial advising.

Kurt Dupuis:
So did you start right after school?

Lee Michael Murphy:
You know what? I started not immediately after school because I started, when I got out of school, got out of college, it was 2008. And so there was not a lot of financial professional jobs available.

Kurt Dupuis:
Would've been a perfect time.

Lee Michael Murphy:
Right. The perfect time. I was like, man, this is... destiny is not there because no one likes this profession right now. So I went and washed cars for Enterprise Rent a Car for about a year and a half. Did some credit cards sales...

Kurt Dupuis:
Is that right?

Lee Michael Murphy:
Yeah man, and that was actually... In hindsight that was such a great path because you know, jobs like going door to door sales, working for Enterprise Rent a Car, they just work you to the bone and they just make you very appreciative for everything after that point. So I'm actually, I'm actually very glad that was my path. But like man, getting your tie sucked up in a vacuum cleaner while you're washing someone else's rental car, it is very few experiences that are much more humbling than that. And so

Kurt Dupuis:
Good times.

Lee Michael Murphy:
Yeah.

Kurt Dupuis:
Good times

Lee Michael Murphy:
You know, but it makes you so grateful afterwards so. But that was my start. And then I got my experience in sales and marketing through that. So it was very valuable. And then I was a top performer for Enterprise and I used that as part of my resume to get into finance and then I made the leap.

Kurt Dupuis:
I love the gratitude in your voice. There's...

Steve Seid:
Definitely.

Kurt Dupuis:
There's often a lack of gratitude in this business. But going back to your grandfather's story, like if you can't connect with the fact that money can change, it has the potential, not always, but money can change people's lives and we are connected with that story. Like that's how I explain what I do to my five year old or six year old. Right?

Lee Michael Murphy:
Yeah, absolutely. And you know, what's funny is from the 2008 financial to crisis, there's so many people that are naysayers about what financial advising is and you know, they're always, "oh that banks are evil, financial people are evil, blah, blah, blah." And it's like part of where I found my success, when my career really took off, I kind of looked at that and I was just like, you know that these people are so stupid. They have no idea what they're talking about. And that's, I think...

Kurt Dupuis:
That's a narrow view.

Lee Michael Murphy:
It's a narrow view. Right? And then if you think about like, everyone, the media wants you to believe that like financial advisors are evil, finance is evil, banks are evil, but man, the truth is if you think about our profession, it's a godsend to any civilization, any country. If you look at their banking systems that have, if they have that structure in place, I mean that's where all the success happens. That's how people generate wealth. That's how people get their home. That's how people get paid for jobs. And you know, that's how people create wealth. I was like, man, all the stuff in the media that people talk about our profession, how it's bad, it's negative. It's like you got to look past all that and realize we help create opportunity as financial advisors, which I'm assuming a lot of your listeners are.

Steve Seid:
No doubt.

Kurt Dupuis:
Totally.

Steve Seid:
Yeah, yeah, no doubt about it.

Kurt Dupuis:
Well, give us the big picture of your business. Like the types of clients you serve or, you know, how would you describe your practice?

Lee Michael Murphy:
I just describe my practice as successful families. For me, it's living in the Silicon valley. So I got your average Silicon valley power couple, which is, they have a couple kids, they have a white picket fence and they pay way more than they need to for everything, because they live in Silicon valley. That's kind of the average client that I have. They could be mid-career or they could be into that retirement phase.

Steve Seid:
Okay.

Lee Michael Murphy:
But even the ones that are in the retirement phase tend to be retired VPs, executives that just left Silicon valley.

Kurt Dupuis:
Let's jump into the podcast. What's the story there? Like what made you want to get into it? Give us the background.

Lee Michael Murphy:
It started with wanting to voice my opinions on just certain topics in finance. One thing about finance, as you guys know, there's a lot of different messages out there of what works and some things work a lot better than others. And just having the experience in the industry, I got to see strategies that work and the strategies that didn't. But all too often, there's a lot of things that are out there in the media, in terms of things you can invest in that don't work. And there's a lot of what we call BS around them.So the guys that I started, the podcast...

Kurt Dupuis:
That's the technical term?

Lee Michael Murphy:
Yeah. That's our politically correct term.

Kurt Dupuis:
That's the finance word or something?

Lee Michael Murphy:
We felt that there's just a lot of misinformation. And we said let's create a podcast that just gives it to people straight. And we talk about all these things and we try to use academic data, but really just kind of peel back the onion per se and just really figure out what the truth is behind these things. Like do penny stocks work? Is crypto the place to invest in? Is day trading where it's at? Life insurance as an investment, what does that look like? So all these things that you hear about, but people don't really understand, our goal was to just have honest conversations to get that information out there. Let's think about what's going to get people the most success towards getting financially free. We figured career success is one thing that, all the clients that I work with that have been relatively successful, they're generally have done a great job in their career. Secondly, they've done a great job with their money, and then third, they have the right mindset. So we put all those together and the thing was just, give clear honesty and just make it entertaining. So that was our idea and we just ran with it.

Steve Seid:
That's phenomenal. And, and when you had this idea, had you ever done any podcasting? Did you know anything about it? Because we had a similar type of journey and I'm curious what you, how it was for you?

Lee Michael Murphy:
You know, absolutely not. I knew nothing about podcasting. I knew zero about social media as we were talking before I got on. I mean, I got into Facebook a couple years ago. That's how behind the curve. I am like, you know my grandparents were further ahead of the curve than I was when it comes to technology. They're almost...

Kurt Dupuis:
You're probably already ready to delete it too.

Lee Michael Murphy:
So I just, I figured this is something that I could get into, but I looked at it and I said what's... Why would this be valuable right? Because before you jump in anything, you've got to look at what makes it a valuable use of your time? And so, what I realized as I had started downloading podcasts and I realized, man, I have these people on my phone and they've been there for a while, probably years now. And I've never deleted them. I always circle back to these people because with a lot of ways of getting education, you might sign up for an online course, you might pick up someone's book, but then it's done you generally don't come back to it. With podcasting I realized, I keep going back to these people. They're on my phone, they've built this consistent trust with me and I've gotten into this habit of listening to them time and time again. And I said, you know what, that's a really smart marketing strategy right? That's where I figured it's a good use of my time.

Steve Seid:
What is success for you? So for us, when we were starting our show, we weren't doing this to compete with Joe Rogan and get hundreds of thousands of listeners. We were doing this because we had an audience that we wanted to speak to. And as long as that audience was engaged with us, that's all we needed. But how did you think through what success looks like for you guys?

Lee Michael Murphy:
I mean in a general sense, success was just giving great information that we feel like helped people. So that was the number one, can we get that out to people? Could we do a good job of that? And I think that's the first part is, can you give great information that's really going to help people and make their financial journey different, I think we do a great job of that. On the personal level, as you know, a lot of your listeners are financial advisors. I think it's to build up a database of people that listen to you, that you can get some of their data. You can invite them to listen to different podcast episodes. I think that's the other thing is having that collection of data, was the other thing.

That was the business goal, is try to get these group of listeners to one, in the near short term, reach out to me and reach out to my friends that do the podcast with me for help in career, finance, legal. Because the podcast that we do, we have a guy that's an executive at LinkedIn he helps with the career stuff, I do the finance, and then our attorney does the legal stuff. Keeping people out of the hot water. It was something that was naturally around me. These guys that were very close friends of mine. But when I thought about it, I was like, it just makes sense. For people to move forward, they've got to get their career down. They got to get the money down. They got to avoid the big mistakes, which is the attorney. We didn't really want the attorney because who wants an attorney?

Steve Seid:
Right.

Lee Michael Murphy:
But, he helps people navigate situations where they make the wrong decisions. All that worked together and right now it helps us each in the jobs that we have. But that eventually, we'll be able to build like an E-course out. So that's kind of the end goal, but we're a long ways from that. Right now we're just enjoying what we're doing right now, we're enjoying the fruits of the labor that we're getting, but there is a bigger goal for us. And that eventually will probably be an e-course at some point.

Kurt Dupuis:
I could probably count on one hand the number of financial professionals that I know that have a podcast. What are some big lessons that you could share for financial professionals that are considering starting one for themselves?

Lee Michael Murphy:
We made a massive mistake in the beginning is, we had a great format we had great synergy, and we got that feedback immediately from people. Because what we did is we sent the podcast out to about fifty people and said, "Do you like what we're talking about? Does it resonate with you?" And pretty much, most of them loved it. We sent it to a lot of random people that we didn't know so we would get honest feedback. And then we probably had one negative person and he was like... he was an older professor from Santa Clara University, and he said, " You guys aren't very professional. You guys joke around too much." And we're like, all right well...

Steve Seid:
Wow, that's what makes a good podcast, yeah.

Lee Michael Murphy:
Yeah so we're like you're obviously not going to be our listener, but overall we felt that, do we have something? Do we have something that people want? And that it was clearly a resounding yes. So I would say, if you get into it, what it's going to distinguish you? There are hundreds and hundreds of downloaded recordings of boring people talking about boring stuff.

That's just our industry. Right? And so you have to figure out a way how you can make it entertaining and different. So I think that's the first part, figure out what's going to make you different. And we decided that we're going to try to be as entertaining as possible, push the envelope a little bit. And that's kind of like our brand. And it's funny because I sit down with clients that hear me and they're like, oh my gosh. You're like, you're so different. Like the personality that we get on the podcast is like funny and it's a little bit crazy. But then when we're sitting down with you, you're very business oriented. But for the podcast, I think you have to have that element. That's going to be entertaining and draw people in and what your brand is right? And it can't be dry and boring. People don't want to listen to dry and boring

Kurt Dupuis:
A word that both that resonated with both of us was info-tainment. It's like we want to be sharing good information, but we just want to make it lighthearted and fun. So that's a word that's always kind of stuck in the back of my mind, if I think of our ideals for what we're trying to create here, that's a crucial part of it.

Lee Michael Murphy:
Absolutely. So the first one is creativity. The next part was consistency. That's where we messed up also. So we had this great reviews of people that were like, we love what you guys are doing. And then we took a break. We're like, we put out some good episodes and then we're like, oh, we're going to take them month off, no, let's like take six weeks off. And we had really good listenership when we started, we came back, no one came back to us. We lost a bunch of listeners. And so I think that's another thing is when you get into the podcasting world, you have to realize you're going to have to be consistent. You don't get success unless you can consistently put out information. You have to say, we're going to commit to every Wednesday, we're putting out an episode. And if we are behind on schedule, or we haven't had a chance to record. We're going to have to get together and put down an emergency episode to make sure we're getting consistent with what we do. And so that's the thing is when you go into it, you have to, you can't just be like, oh, I'm going to give this a try because it's not going to work. You can't limp in here.

Steve Seid:
Yeah.

Lee Michael Murphy:
You have to be like, this is my strategy. I'm going to stick with it. I know that I'm not going to get immediate results, because we didn't, we didn't get immediate results. It took a while for us to get the sort of listenership that we have now, and these loyal people that listen to us, it takes a while. And that only comes with being consistent and not expecting anything immediately.

Steve Seid:
Speaking of producing content on a regular basis, we produce a show every three weeks because we'd like to do it more, but there's a lot of hurdles that we have to go through. We have to go through our compliance department, our marketing department. There's a lot that goes into it. We're very fortunate that we're able to do it. And we have a firm that backs us. What were those hurdles like for you? How'd you get the go ahead?

Lee Michael Murphy:
I think I wore my compliance department down all the episodes I kept giving to them. I think my sheer volume and consistency they're like basically on our podcast, we like to like, kind of push the envelope. So we might drop an F bomb or a curse word here and there. Or like some of our jokes, might be not professional all the time. And so I was kind of getting a lot of that like, "Well just make sure you don't insult anyone." And it's like, we're just trying to have a good time when we do it. And so we got a lot of that in the beginning, which was surprising, very few of the, oh you said this and it wasn't up to what the FCC wants you to say. Every now and then there was something like, oh, you said this, this could be construed as... You get a little bit of that, but know what what the rules are, know what you can say and what you can't say, and then you're less likely to have compliance, really give you a bad time.

Cause I think from all the volume I gave them, they're like, okay, this guy might be annoying on the things he's saying, but ultimately he's not going to do anything that's illegal. And so they just...

Steve Seid:
Yeah, he's playing in bounds.

Lee Michael Murphy:
I can give you guys a couple of the other ones like just so...

Steve Seid:
Yeah, please.

Lee Michael Murphy:
There's five, I gave five ones for anyone that's trying to start a podcast that I think you got to figure out before you go into it. So we talked about the first one, have some creativity and something that makes you unique. Secondly, consistency, consistency is king. Third is getting help to put the podcast out. Because another thing that I didn't realize is a podcast takes a ton of time. I do not have the time to edit a podcast, make all the content for the podcast, push it out. Because if you're thinking about it, you have to schedule your podcast with your guests and whoever, whatever host you have right? So that probably takes a half hour, or an hour of scheduling, right? Going back and forth, then you have to think of the content.

That's another hour, right? So let's say we're up to two hours just with your content. There's your recording, let's give you another hour for recording. That's three hours. Then you have to edit that. That's double the time at the very minimum. So you're up to five hours. Then you have to make your content, that's probably six hours. Then there's the technical difficulties or putting it out there, there's another half hour right there. So, I mean, you're looking at a project that is probably going to take, if you're doing it on your own, six to seven hours a week. I mean, it really takes up that much time. So I got assistants to help me with this.

Steve Seid:
Yeah.

Lee Michael Murphy:
So I get the best part about podcasting. Because if I, honestly, if I was doing all of that other stuff, it wouldn't be fun.

Kurt Dupuis:
It wouldn't get done. Yeah.

Lee Michael Murphy:
I would probably quit, I'd probably be like, this is not enjoyable anymore. But for me I designed it so that I really enjoy it. You know, my assistant is great and says, this is when you're supposed to record, this is who you're recording with, this is what they're about. And they do all the editing, helps with the promotion, I go over it and give my feedback, but it takes minimal time. So I think that's what you have to think about as well is how can you make it work for your life?

Steve Seid:
Same thing for us, we've got a firm that helps us with editing and we've got our marketing support from our home office, which is phenomenal. So great points. Let's transition, we talked a little bit about how it is impacting your marketing efforts, but I'm interested in it from two sides, one with current clients, do they listen? Do you do something for client, current clients? And then the second part being the prospects

Lee Michael Murphy:
In terms of the current clients, I think some of them listen. So I think that's been a good thing. In terms of the new clients, so one thing I noticed that's very interesting is when I would get new clients on board before, I felt there was more of an interview process from the client, like they would ask me more questions. They'd barrage you, " Tell me about this, tell me about that. And you might win the business, you might not, for whatever reason. I feel that since I have a podcast, now I have a much higher conversion percentage on all new clients. And I think...

Steve Seid:
They feel like they know you.

Lee Michael Murphy:
Yeah. Because the thing is they actually will do their research on you. So they see my podcast, maybe in my email underscore or they Google me and they're like, oh he's got a podcast, they do their research. And I can tell when I'm doing the initial meetings with these people, when we're getting to know each other, I can tell that they've listened to my podcast just through our conversations. And they ask a lot less questions because the trust is already there. You've already established yourself as a trusted resource. And they've spent probably hours of time listening to you, hearing your voice, hearing your concepts, and so right there you've made your sales process easier honestly. As a financial advisor you want to build trust, that's the foundation on how business is built is building trust. And a podcast can be a great way to do it. I get a lot of people that just contact me because they listen to the podcast, which is great. And then a lot of people that they're already sold on what I do. So I get less of those like, oh, we just want to interview you and ask you all these questions. They've already done their research and they've already decided. So I think that's an amazing benefit of having a podcast.

Steve Seid:
A big predominant part of the buying decision is done before anyone even meets you. So they're going to do that research. And if you have something else that helps build that trust. Yeah, you just said it, it makes it that much easier for you in terms of conversion. And some people think, you know that, there's so many podcasts out here. So it's a hard thing to get attention. But the truth is, we just talked about it, a lot of them go away quickly. And when you actually get somebody to focus and listen to that episode, it's completely uncluttered. When someone's listening to you on a podcast, you've got their attention, even if they're doing yard work, you've still got a big portion of their attention.

Kurt Dupuis:
Especially when they're doing yard work.

Lee Michael Murphy:
But if you get five listeners, right? That's like five people that have your undivided attention.

Steve Seid:
Yes.

Lee Michael Murphy:
And it's extremely valuable. Think about it like that.

Steve Seid:
We talked about some of the benefits now, you've mentioned downside being time. Is there any other downside from your perspective?

Lee Michael Murphy:
It all comes around like time and the work that's involved with it, right?

Steve Seid:
Yeah.

Lee Michael Murphy:
That's I think the big issues with this, is just like, if you're going to get into it, make sure you have that process in place. Because know that each episode is going to take a lot of time. You're going to have to spend a lot of time getting guests and you know, you're going to have to go on other podcasts too, to create awareness about what you're doing. So, I mean all the negative around it is, do you have the time available to make it part of what you do? It can't be just a random idea. You have to commit to this, besides that. I don't think there's really many other negatives for, I mean, you know, I think there's always the chance, right if you say something that's recorded and it's not legal, I mean, there's an issue there.

I haven't run into that, knock on wood, but you know, that's one of the issues that's out there. But that's not one that really concerns me.

Steve Seid:
Yeah.

Lee Michael Murphy:
And I think for most people that's probably not what they're concerned about it's just, can they put in the time and effort. Just to save people, that decision making, if they say like, I'll try it for a couple months and see how it works. Don't do it.

Steve Seid:
Nope.

Lee Michael Murphy:
That's going to be a complete waste of your time. Like I have...

Kurt Dupuis:
There's plenty of other ways to market that don't require that consistency.

Lee Michael Murphy:
Exactly.

Kurt Dupuis:
Who are some of the more interesting folks you've had on or, things that you learned from guests on your podcast?

Lee Michael Murphy:
Yeah, that's one of the most amazing benefits of having a podcast. So, a great point, I didn't think about mentioning that, but when I started this podcast, I thought I have a message that I want to give to people that I think is going to help them. I do want to have more awareness on my business. Those were my first reasons for getting into podcasting. But the thing that I didn't see, is exactly what you said, the cool people that you meet along the way. I think two of the top economists in the US come on in recent months, like the top twenty ranked economists coming on my podcast, is something I could have never thought of before. The face of the largest advisory firm in the US coming on my podcast.

Steve Seid:
Yeah.

Lee Michael Murphy:
It's wild like that...

Kurt Dupuis:
Yeah.

Lee Michael Murphy:
...these people actually reach out to me and say, "Hey, we want to be on your podcast." I'm like," Oh, okay, like this is crazy."

Steve Seid:
Isn't that great? Yeah.

Lee Michael Murphy:
I mean, it's wild, I didn't even have to reach out to these people. Jose Benitez Cong came on and he was one of the first five people to work on the iPhone, him and four other people talking about how we're going to build this phone, called the iPhone and bring it to market. That was an amazing interview. So I think his thing was all about, how can you figure out if you're in the right place? He gave amazing advice on that. For the financial advisors, I would say, one guy that stuck out was Jeremy Schneider. We probably had him on about a few months back.

The reason I would say I'm recommending him just specifically for your audience, is because he's an entrepreneur. A lot of financial advisors are entrepreneur focused. He created a website called Rent Links and he sold it for millions of dollars. And then he made Personal Finance Club, which is an online course, that teaches people about finance. He made that a business and now it's well over a million dollars and he's working on a company called Nickel. I think they're, they're in AI and they're going to try to make that a billion dollar company. So obviously he's a very successful dude, knows what he's doing. And I just asked him what is it that you... what you see from entrepreneurs that makes them successful? And his whole thing was overcoming failure is the key to his success. And I think it's something I've noticed with a lot of people we interview is can you be persistent and overcome all these failures?

And I think that, that's a huge part of, anyone that's trying to be successful, I think that that's the one of the main drivers. But then he mentions consistent daily improvement. Most of us don't think about what can you do each and every single day, a little bit different to get better? And I think, that's what separates him from so many other people. I think consistency is one thing, but having the mindset every single day. Being like, what can I do a little bit different today, little bit better? And he described it to me as like, day after day, that makes the difference. That's how people create these dreams that become reality is having that sort of mindset.

Steve Seid:
What a challenge to yourself, challenging yourself in that way. That's amazing.

Lee Michael Murphy:
Yeah, so there's all kinds of great interviews we've had on there. But I'd say, for people that are on entrepreneurship, definitely check his episode out. But there's so there's so many other great ones we have on the Free Retiree Show. So just check it out if you guys get a chance.

Kurt Dupuis:
How much did you have to pay off the other guys to put your name on the podcast rather than the other co-hosts?

Lee Michael Murphy:
You know, believe it or not, they actually were... I haven't got any fight on that one so.

Steve Seid:
Oh man. Good friends, good friends.

Lee Michael Murphy:
Yeah, but you know what? The honest thing is I don't even want my name on the podcast. It just shows up that way after you download it shows, I was like, oh, there's my name in it.

Steve Seid:
Oh is that Right?

Lee Michael Murphy:
Yeah, I didn't expect that.

But you know, you have to have the mindset that it's going to benefit everyone equally. And I have that mindset as well, going in with these guys, I want them to reap the benefits just as much as I do. So, that's another thing of having a successful podcast, like you guys do, it's always better when you have a co-host right?

Steve Seid:
Oh definitely.

Lee Michael Murphy:
It's a bit more fun.

Steve Seid:
Oh God yeah.

Kurt Dupuis:
I have to remind Seid of that when he tries to kick me out sometimes but, yes.

Lee Michael Murphy:
Yeah. You got to remember that.

Steve Seid:
I will tell you that the dynamic that the three of you have on your show is incredible, it makes it such an enjoyable listen.

Lee Michael Murphy:
Thank you, man thank you. And that's just genuine friendship there.

Steve Seid:
How many episodes have you guys done so far?

Lee Michael Murphy:
We are at, I think one 102, think we did a hundred and two.

Steve Seid:
Congratulations. You crossed the hundred mark. Everyone, check out that show The Free Retiree Show. Thank you to Lee Michael Murphy for coming on. It was awesome to get to talk to you about this. It's something that I hear from our financial professionals all the time. It's like, they're thinking about doing these different types of mediums, but sometimes they just won't take that step. So hearing from one of their peers, a successful financial professional like you, is really valuable to our audience. So thank you so much for coming on, we really appreciate it.

Lee Michael Murphy:
Thank you guys, it's been an honor to be on your podcast and I love what you guys are doing as well. Appreciate you guys.

Steve Seid:
We'll do it again, definitely, thanks so much for coming on. We're going to transition to the Costanza corner. This is The Whole Truth, stick with us.

Kurt Dupuis:
And welcome back to the Costanza corner where we like to end the show on a high note. Steve, are we going to leave on a high note today?

Steve Seid:
Yeah, but is it cool if I do an animal one? I know I do it a lot. Can I do one animal? Can I do it?

Kurt Dupuis:
I do music, you do animal that seems to be our brands.

Steve Seid:
Can I do that?

Kurt Dupuis:
Yeah, sure.

Steve Seid:
And science and we got some good you know... but this is like really cool. Everyone loves tigers right? We like them, we appreciate them. Do you like tigers?

Kurt Dupuis:
I mean, I'm an LSU tiger, so sure.

Steve Seid:
No, no, I mean like big cats, aren't they like amazing like lions and...

Kurt Dupuis:
Yeah, and Tiger King what was that Netfilx show that was awesome.

Steve Seid:
Well here's the deal, like you know they're amazing, they're incredible. You ever see a tiger at the zoo? These things are amazing, but here's the crazy thing about it, unfortunately, and the downside of this, and the reason why we're going to talk about the upside is because, they went down to pretty low amounts. And this particular article I read, had to do with the Siberian tiger, so think a big you know... the typical orange tiger with the stripes, a couple days ago, a couple decades ago, actually there was down to like forty of them, and that's it. And now what they're starting to see is, you know there's an article that they're finding paw prints everywhere. And those numbers have gone from really less than fifty tigers in the world, to now they're estimated over six hundred. So they're back to thriving and I just found that to be...

Kurt Dupuis:
Off the endangered species list now?

Steve Seid:
I still think they're endangered, but clearly they're coming back a success story about conservation out in Siberia. So I found that to be incredibly joyful and that's my Costanza Corner.

Kurt Dupuis:
Didn’t we talk about this with that turtle that single handedly replenished the population?

Steve Seid:
Yes, I like these stories. I like how there's only two of them or five of them.

Kurt Dupuis:
That turtle was a busy man.

Steve Seid:
Yeah, and it's like, okay, it is your job to repopulate, but no, no that's awesome man.

Kurt Dupuis:
Challenge accepted.

Steve Seid:
Yeah, there's more tigers, I think that's a good thing. To me, that's a good thing so, thanks everyone for listening, we'll see you next time.

Kurt Dupuis:
You can find The Whole Truth and subscribe for free on Apple Podcast, Spotify, or your favorite podcast app. We'd love it, if you took the time to rate and review the show on Apple Podcast. It helps others find the show. And for more episodes of The Whole Truth, go to www.touchstoneinvestments.com/the whole truth. That's Touchstone Investments dot com slash the whole truth. All one word.

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Please note that this content was created as of the specific date indicated, and reflects views as of that date, it will be kept solely for historical purposes and opinions may change without notice in reacting to shifting economic, market, business, and other conditions. Touchstone Funds are distributed by Touchstone Securities Incorporated, a registered broker dealer and member FINRA and SIPC.