Hi, I’m Terry Brock, and welcome to a truly transformative episode crafted just for you—an entrepreneur on the journey to financial wisdom.
Today, we dive deep with my good friend, the illustrious Willie Jolley, CSP, Certified Speaking Professional, Speaker Hall of Fame member, and Cavett Award recipient. Together, we unravel the profound difference between simply being rich and truly attaining wealth.
Grab a seat and a notepad; you won’t want to miss a moment of this enlightening conversation.
Join us as we explore the mindsets that define financial success. Willie outlines five distinct money mindsets, starting with those living day-to-day, all the way to those thinking in generational terms.
But why stop there? Willie delves into strategies for creating wealth that work for you—even when you’re fast asleep. Learn the power of owning assets, generating passive income, and thinking long-term.
This is vitally important for Entrepreneurs like you and me.
We also take a journey through history, tracing the footsteps of financial legends and modern success stories like Junior Bridgeman and Magic Johnson.
What’s their secret? The ability to learn skills and invest wisely. Discover how these strategies can apply to your life and business for exponential growth in your financial journey.
But it’s not just about the nuts and bolts. We discuss the importance of a winning mindset and continuous learning in staying ahead of the curve—especially in today’s AI-driven world.
Willie shares the keys to making sound decisions, living below your means, and ensuring financial security for future generations.
This dialogue is not only about understanding wealth; it’s about fostering significant and purposeful change in how you approach your finances. I invite you to lean in, engage, and consider how these insights can be a catalyst for your own entrepreneurial journey. Let’s get started on building a life of enduring legacy and abundance. Your future self will thank you.
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Here’s a link to the video:
https://youtu.be/nMHPhSMiuyo
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Here are some timestamps that can be useful for you:
00:00:00 – Introduction by Terry Brock Terry introduces the theme of the episode, emphasizing the importance of understanding the difference between being rich and wealthy for entrepreneurs.
00:01:09 – Introduction of Guest: Willie Jolley Terry introduces Willie Jolley, noting his accomplishments and the value he brings to the discussion about wealth creation.
00:02:17 – Overview of Willie Jolley’s New Book Willie discusses his new book and his long-running SiriusXM show, “The Willie Jolly Wealthy Way Show,” highlighting his insights on wealth creation.
00:06:31 – The Difference Between Being Rich and Wealthy Willie starts discussing the main topic of the episode, defining five money mindsets and illustrating the key differences between being rich and being wealthy.
00:13:08 – Generational Wealth Example Willie shares insights from an interview with the Dale Carnegie Institute’s president, illustrating the concept of generational wealth.
00:23:36 – Opportunities in the AI Revolution Discussion about the AI revolution, aligning the wealth topic with new technological opportunities.
00:26:46 – Importance of Mindset and Continuous Learning Willie emphasizes the critical role of mindset and ongoing learning in wealth creation, especially for entrepreneurs.
00:32:37 – Closing Remarks and Resources Terry and Willie wrap up the episode, mentioning available resources and future book publications aimed at helping individuals grow wealth and improve mindset.
Here’s a Spanish language summary for your convenience:
En este episodio, Terry Brock entrevista a su amigo Willie Jolley sobre la diferencia entre ser rico y ser adinerado. Terry explica que, como emprendedores, es crucial entender esta distinción para poder vivir de manera independiente y centrada en la libertad. Ser rico, según Terry, se trata de ganar dinero al proporcionar servicios o productos que otros necesitan, mientras que la riqueza se trata de generar ingresos incluso mientras duermes.
Willie Jolley, reconocido como un profesional de la oratoria y miembro del Salón de la Fama de Oradores, comparte su experiencia tras años de entrevistar a creadores de riqueza en su programa de radio. Willie ha estado conduciendo el “Willie Jolly Wealthy Way Show” en SiriusXM durante diecinueve años, donde ha aprendido sobre la mentalidad del dinero a través de muchas entrevistas con personas exitosas.
Willie describe cinco tipos de mentalidades financieras: indigente, pobre, clase media, rico y adinerado. Los indigentes y pobres piensan a corto plazo, a nivel diario o mensual, mientras que la clase media y los ricos piensan a nivel anual o decenal. Por otro lado, los adinerados piensan en términos de generaciones, buscando construir un legado que dure más allá de su propia vida.
Durante la entrevista, Willie comparte la diferencia entre ser rico y adinerado. Ser rico es dinero que ganas por lo que haces; es decir, por un trabajo o actividad puntual. En cambio, ser adinerado implica generar dinero mientras no estás trabajando activamente, por medio de inversiones o activos que se aprecian con el tiempo.
Willie se enfoca en la importancia de tener múltiples fuentes de ingreso y en enseñar a las futuras generaciones sobre la gestión y el valor del dinero. Él menciona cómo, a lo largo de los años, muchos atletas y artistas han alcanzado la riqueza pero no la han mantenido debido a una falta de planificación a largo plazo.
Por último, resalta el valor de la educación continua y el aprendizaje constante como pilares para alcanzar y mantener la riqueza. Considera crucial que las personas desarrollen una mentalidad positiva y proactiva para poder aprovechar las oportunidades que surgen, especialmente en un mundo en constante evolución como el actual, influenciado por tecnologías disruptivas como la inteligencia artificial.
Here’s an English language transcription of the entire episode for your convenience
Terry Brock [00:00:00]:
As entrepreneurs, money is a very important part of what we do, and we’re striving for that goal of being self sufficient, wanna be freedom oriented so that we can live our lives the way we want. And that means we gotta understand the difference between rich and wealthy. We talk a lot about AI here, and their way to become rich is to provide needs that others have. You take care of them. They want you. They give you money because you help them. That helps you to get rich. But there’s a big difference between rich and wealthy.
Terry Brock [00:00:27]:
And in this episode, I got a chance to interview one of my buddies that I’ve known for a long time, CSP, certified speaking professional, speaker hall of fame, and Cabot award recipient, Willie Jolley, my buddy. And he talks about how you can do this, what you need to do, what you need to put into place so that you become not only rich, which comes from making some money, but wealthy. Money that’s being created when you are sleeping, when you’re doing other things. As entrepreneurs, we need to know that, and that ties in directly with what we talk about with AI. So I want you to listen to this. Find out the kinds of things that are there. You know me, Terry Brock. I’m with you, helping you with Gina Carr here at Stark Raving Entrepreneurs.
Terry Brock [00:01:09]:
We wanna help you to not only become rich, but also wealthy. Sit down, take some notes, get ready for a fun time in the next few minutes as I get a chance to talk with my buddy, speaker hall of fame member, certified speaking professional, doctor Willie Jolly.
Willie Jolley [00:01:26]:
As an entrepreneur, we know that money is very important. What we wanna do is to make sure we have the right frame of mind.
Willie Jolley [00:01:31]:
You
Willie Jolley [00:01:32]:
know, if you have your mindset in a different way, oh, it’s bad you make money, then you’re not gonna do really well. But if you’re thinking, okay, I wanna do this for abundance, to make the world better, yes, to take care of yourself and your family, but others as well. And you have to look at ways that we can do that. What does it mean to be rich versus wealthy? Well, to find out some more about that, we’ve got my buddy, my brother here, Willie Jolly, joining us to talk about that. Willie, good to have you with us today.
Willie Jolley [00:01:58]:
Terry Brock, always a privilege and a pleasure to be in your presence. Well, it is great to have you here.
Willie Jolley [00:02:02]:
Willie’s speaking here in Orlando. We’re here in Orlando. He just finished. Getting ready to head out and get on the airplane and head back home. I thought, wait a minute. Before we do that, let’s see if we can get this genius, my brother here. Tell us a little bit about that new book he’s got coming out. Tell us about that book you’ve Yeah.
Willie Jolley [00:02:17]:
The book is so exciting. I’ve been on SiriusXM now for nineteen years. Nineteen years? For nineteen years. You. And the show is called the Willy Jolly Wealthy Way Show. And now it’s the Willy Jolly Wealthy Way Show and podcast because, of course, we are taking advantage of the technologies that you’ve taught me so well over the years.
Willie Jolley [00:02:38]:
Well, that technology is important. And you’re the right one. Really, you have done that through the years.
Willie Jolley [00:02:42]:
Yes.
Willie Jolley [00:02:42]:
You see something new and I’m there. I’ll come on excited. Oh, this is really good AI, for instance, today. Yes. But you embrace that from a good practical point of view, kinda like you’re doing with the money.
Willie Jolley [00:02:51]:
Well, yes. But I must say to people that Terry Brock is my go to. He’s my go to because maybe twenty years ago, this thing called the Internet came out, and we were using computers completely as part of our ongoing operation. I was afraid of a computer.
Willie Jolley [00:03:12]:
Well, a lot of people are because we don’t know it. We’re it’s unknown, and so it’s fear.
Willie Jolley [00:03:16]:
And so I was scared I’m gonna mess up, and everything will go. Poof. And it’d be erased. And it intimidated me, and I called you one day. I said, Terry, I’m having a real struggle mentally with this computer. I have a friend, and you gave me such a great analogy. You said, Willie, do you have a stapler on your desk? I said, yeah. I do.
Willie Jolley [00:03:38]:
Do do you use the stapler? Yes. And does it help you? Yeah. I I need to staple stuff. He said, that’s what a computer is. It’s an extension of your arm. It’s an extension of yourself where you can use it. If you mess up, it’s okay. If you staple too many times or it doesn’t work that time, just calm down, figure it out, and fix it.
Willie Jolley [00:03:59]:
And once I got past my fear, I started looking at technology differently, and that’s voluntary. I was I was afraid. So, so, anyway, this show, nineteen years on XM, has been a show that I first struggle with what I wanna call it. The Willie Jolly Show, or what is this about? You know, people say, does that mean he’s a gonna sing? Is it a music show? Because people knew me as a musician primarily coming from that era to becoming a guest speaker. Right. Or is it a youth motivational show? Because I was into youth motivation
Willie Jolley [00:04:34]:
Yeah. You have to love young people.
Willie Jolley [00:04:35]:
With my early years in NSA and speaking. And I kept saying, no. I wanna talk about success. Well, the Willy Jolley success show. Well, what does that mean? And then I kept fooling around with it until I got alliteration. I learned about alliteration and willy jolly wealthy. Everybody wants to be wealthy. The willy jolly wealthy ways show.
Willie Jolley [00:04:58]:
I like that. That that word. The willy and so I started interviewing my NSA friends first because I had those on my rolodex and those who were about success and about achievement. And then as time went on, I started having greater success on the show, and the show became the number one self help show in America for, wealth building and and and self help activities. And then I started getting calls from the David Rubensides, when they have a book out, the billionaire. Dave Stewart. Many people don’t know he’s the wealthiest black man in America. He had a book out.
Willie Jolley [00:05:36]:
I got a call from his 15. David John from Shark Tank. When people the general Colin Powell and his book came out, bless his heart. When people people have a a big event, the a listers, I started getting calls from. Gladys Knight. Let’s see. George Foreman, his movie came out. I’m getting these calls saying, we wanna be on your show.
Willie Jolley [00:06:00]:
And so that’s how the show came to be. And as I started thinking, what was it that I was learning? Because I’m interviewing these wealth creators. They’re a list because they got best selling books, so they wanna be on the best sellers list. They got a new book. What what can I learn? And one day, Terry, the proverbial light bulb that we see in the cartoon that goes on Yeah. Those are nice when they go off and you said head Yeah. Went off. And I said, there is a difference between being rich and being wealthy.
Willie Jolley [00:06:31]:
Okay.
Willie Jolley [00:06:31]:
Well, let’s get into the nitty gritty on that then. What is the difference? Sometimes we think, well, they mean the same thing That’s right. But they don’t. I I’m in agreement with you. Tell us, what’s the difference between being rich and being wealthy?
Willie Jolley [00:06:43]:
Well, first, before I give you the the difference between them, let me give you what I’ve learned is the five money mindsets that we see in our culture, in our country, in our world. We have five money mindsets. The first mindset is the indigent. The indigent tend to have a one day mindset. Every day, you’ll see them on a corner with a cardboard box saying, give me enough money to make it through the day. And everybody will repeat that. I have a a guy in Washington, DC who who is who grew up in the neighborhood where I live. Now in a upper nice neighborhood in Washington, upper middle class, upper wealthy neighborhood.
Willie Jolley [00:07:32]:
But he grew up in that neighborhood in an apartment, and his mother died. And he kinda lost it. And he eventually could not sustain the apartment. She had a nice apartment in a nice building, and he got evicted. And he did not wanna live in a shelter. He did not wanna live, in a lesser nicer part of town. So he he found a pastor who who allowed him to live on the back porch of a a house connected to the a church. He did that for years.
Willie Jolley [00:08:17]:
And then when they sold that house and built a new church, he got another neighbor who said you can live in his car. He had an abandoned car he was gonna fix up and back out, and he’s been living there for years. And I said, why don’t you go and get a get a get a place? The city gives indigent people. He said, no. I’m not I love this neighborhood. This is a very nice neighborhood. And that’s what I wanted where I wanna live. So I wanna have it.
Willie Jolley [00:08:48]:
Location, location, location. I’ll just do it in a car. But I say that to say the indigent sometimes have a mindset that I just do enough to get by. Yeah. Okay? I just want enough to get by. So you have a day to day mindset.
Willie Jolley [00:09:02]:
Okay. So we got the indigent. What’s the next category?
Willie Jolley [00:09:04]:
Is the the poor. The poor or the fixed income who are the month to month mindset. Every month, they get a check, whether it’s a welfare check, whether it’s a Social Security check, and they they live on that for a month. They they operate. They sustain. They survive month to month. That that that check is a day late. It it creates all sorts of havoc.
Willie Jolley [00:09:31]:
Mhmm. Then you got the middle class. The middle class tend to have a year to year mindset. Did I make more money this year than last year? The do I have a cost of living raise this year? And that’s how they operate year to year. Then you get the rich. The rich tend to think decade to decade. You see it most prominently prominently in sports or entertainment.
Willie Jolley [00:10:00]:
Yeah. In sports, often, I’ve heard the story of they can have a lot of money coming in, but they’re not planning ahead.
Willie Jolley [00:10:05]:
That’s correct.
Willie Jolley [00:10:06]:
And that becomes the danger that that’s why you think he was rich. Well, yeah. Now they don’t have any money.
Willie Jolley [00:10:11]:
Well, they they they become rich because they get a contract that may be a ten year baseball player will get a ten year contract for a hundred million dollars. And for ten years, they are living the highlight. They got eight Rolls Royces, six Mercedes, two Bentleys. They got a plane. They got a helicopter. They got a a mansion in Florida. They got a mansion in California. They got a mansion in Vegas.
Willie Jolley [00:10:36]:
They are balling and enjoying life. But at the end of that ten years, if they haven’t prepared and they don’t modify their lifestyle,
Willie Jolley [00:10:49]:
they’re gonna be broke. Or if they don’t do something that you recommend, investing
Willie Jolley [00:10:53]:
That’s right.
Willie Jolley [00:10:53]:
And getting the skills, etcetera. So, and we know that’s what we need to do.
Willie Jolley [00:10:57]:
That’s right. And so they we sign that over seventy percent of professional athletes are broke five years after retirement.
Willie Jolley [00:11:04]:
Yeah. I’m thinking, by the way, you remind me of interview I had once with Magic Johnson. Mhmm. When American Express was launching their blue for business card, they asked me to come move up to, New York and did an interview with him. Even then, he was investing in businesses. Yes. He was very smart. Not only a wonderful man, by the way, one on one off camera.
Willie Jolley [00:11:23]:
Wonderful guy. Yes. But he was doing the right thing. Absolutely.
Willie Jolley [00:11:27]:
So and I real quick. There’s another one who I recently who recently passed away, and I did a tribute show for him. His name was Junior Breachman. Now most people don’t know his name, yet he he was the fourth wealthiest ex athlete in America. Magic I mean, Tiger Woods, Arnold Palmer, David Beckham, and then it was Junior Bridgeman. He started by playing basketball. He was a sixth man. He never made more than $350 $350,000 a year.
Willie Jolley [00:12:03]:
He plays for thirteen seasons. But during the summer, he became a intern for Wendy’s. He would work at a Wendy’s flipping burgers, learning a business, and he and he saved majority of his money, lived below his means. He bought a when he retired, he bought a Wendy’s burp hamburger place. Mhmm. By the by in five years, he had a hundred. And then he found chilies. And then another five years, he had over a hundred.
Willie Jolley [00:12:37]:
And then he took all of that. He gave some of the restaurants to his children and sold off the rest and bought the the biggest Coca Cola bottling, operation in Canada. Yeah. And if
Willie Jolley [00:12:52]:
I can make an observation, I don’t know him. I may not know him, but he learned skills. That’s right. He learned valuable skills that people need. How do you make a hamburger? How do you take care of Coca Cola? And all these different things. So he learned the details of that. That’s right. And then applied that to create wealth.
Willie Jolley [00:13:08]:
That’s right.
Willie Jolley [00:13:08]:
To make money. And I think that’s kinda what you’re driving at.
Willie Jolley [00:13:10]:
That’s what I’m driving. You see where I’m going.
Willie Jolley [00:13:11]:
You see where I’m going.
Willie Jolley [00:13:12]:
You see where I’m going. I really like it. And so most rich oh, you see them in athletes and in entertainment, by a rapper or a and they they got joke all around in that. But if they don’t learn about business, then the music industry shifts every decade or so. We we had rock and roll. We had blues. We had we had, Boogie Woogie at one time, and then we had disco. It stayed around for about ten years.
Willie Jolley [00:13:40]:
And then you got rap and and and each innovation of it. Yeah. And it’s continuing
Willie Jolley [00:13:46]:
to move even faster today That’s right. Because of AI and what we can do with it.
Willie Jolley [00:13:50]:
The AI and the Internet and but let’s say rich people, rich as you’ve seen in athletics or entertainment. Then the fifth mindset is the wealthy. The wealthy tend to think generation to generation to generation. Scripture teaches us that a good man leaves an inheritance for his children’s children’s great grandchildren. And so when I got that, those five mindsets, I said, wow. About wealth generation on my XM show, I interviewed the president of the Dale Carnegie Institute.
Willie Jolley [00:14:31]:
Mhmm. And who is that?
Willie Jolley [00:14:32]:
His name is what’s his name? I can’t say what’s his name right now, but, he’ll come to me in a moment. But, anyway, he was he had a new book out. I get a call, and he’s the president of the Dale Carnegie Institute. He’s not a Carnegie. He’s he’s a hired man. And so we were talking, and I said, tell me the business model for Dale Carnegie. Well, Dale Carnegie Institute teaches leadership and communication skills as a franchise. I said, okay.
Willie Jolley [00:15:01]:
How many franchisees do you have? He told me the number of franchisees all over the world. I said, and what’s the franchise fee? He say say, we pay a franchise fee to get in, and then you pay us a a yearly fee. I said, what’s the yearly fee? He told me. I said, let me do a quick calculation. This many franchises times that fee. Woah. That’s a lot of money.
Willie Jolley [00:15:25]:
Some serious money.
Willie Jolley [00:15:27]:
Serious money. And I said to him, okay. Let me ask you a question. Where what where’s the stock? What’s the stock name? I can buy some of the stock there. I wanna be in on this. Said you can’t. I said, why? He said, it’s not on the stock market. It’s a private company.
Willie Jolley [00:15:44]:
Really? I said, who owns the company? He said, the family. I said the family owns the company. I said, he said, yeah. I said, how long? And here’s where it blew my mind. A hundred and ten years. A generation is twenty five years. That’s how they calculate a generation that in twenty five years, you expect people to get married and have children. That’s a new generation.
Willie Jolley [00:16:07]:
But they are almost five generations of this guy starting something that thought generationally, that’s generational wealth.
Willie Jolley [00:16:16]:
That’s long term. It’s not just, oh, I need money today. Right. Like going back to the indigions that you were talking about. Right. People that, don’t have much, they just need food for today. Right. Versus we’re thinking long term.
Willie Jolley [00:16:27]:
So help me how entrepreneurs can start thinking more long term, to think in terms of creating wealth rather than just trying to get rich. Okay. Now let’s
Willie Jolley [00:16:35]:
circle back to your original question. What is the difference between being rich and wealthy? And it’s Yeah. Profound. Rich it is a simple premise, and the book goes into greater detail and talks about the history of money and the mindsets of money, riches money you make for what you do, whatever it is. You cook, you clean, you you create content, you play basketball, you play football
Willie Jolley [00:17:00]:
Professional speaker. Professional speaker.
Willie Jolley [00:17:02]:
Speaker is is money you make from doing something where people give you money in exchange for that service or that product. Mhmm. Wealth is money you generate while you’re at home at night in bed sleep. Mhmm. It’s from what you own.
Willie Jolley [00:17:21]:
What you own. So you’re investing in a company, stock market, would be one example of how to do that. Yep. Learning a skill that people want, and then you’re able to multiply that Yep. Without you just doing your
Willie Jolley [00:17:32]:
in other words, you’re not getting paid by the hour. That’s correct. Or by the job or by the task. You’re getting paid by what you own that generates money, and you have nothing that you have to do beyond owning it for all intents and purposes. Of course, you gotta monitor it and watch it and but but that is the difference between being rich and being wealthy. And rich is good. If you’re a speaker, an entrepreneur, and people pay you a nice fee to do what you do, that’s great. Mhmm.
Willie Jolley [00:18:04]:
But how do you get to wealthy? That’s when you look at the other ways that can generate wealth, I e, multiple streams of income. And there are multiple streams of income. You’ve got to have money and income stream from what you do. Then you have to have an income stream from what you own, like INU, and, we have investments. But, also, I have money coming in from royalties. I have money coming in from my media, from my radio programs that are repurposed. I have money coming in from real estate. I have money coming in from, some of the other programs we created that can sustain themselves without me doing them.
Willie Jolley [00:18:49]:
And so that’s where you start to see wealth creation, and that’s where you start to be able to scale those businesses, those wealth wealth opportunity. So which is good, wealthy is better is gonna be I think it’s gonna be a landmark book that every household needs, every and everybody in your family needs. Because people talk about generational wealth. I’ve got a I’ve got a company, and I’m creating generational wealth. The problem is that is not true because Dale Carnegie has generational wealth. Most people, they leave a nest egg for their children. And if it’s not a hard asset that generates more assets, that money and my one person I wrote in the book said, assets grow and and develop, or at least they’re
Willie Jolley [00:19:40]:
supposed to. Yeah. They’re supposed to
Willie Jolley [00:19:42]:
Money and cash evaporates. Mhmm. It just goes up.
Willie Jolley [00:19:46]:
Inflation can be do that
Willie Jolley [00:19:47]:
as well. Inflation engine. And the other thing we tell in the book I talk about is how important it is to teach your children or your heirs about money. Yes. And what how money works. And so wanna say we encourage people to do get a trust. Make sure you get your your your assets into a trust, your home, your your assets, and and you put parameters on the trust as to how it can be divvied out. It’s good to have a will.
Willie Jolley [00:20:17]:
You gotta have a will. But then the wise ones don’t just have a will. They have a trust. Yes. And they and they can come they can demand and control how the money’s gonna be allocated. So we got a trust that is setting up we’re setting it up for a hundred years. Mhmm. And our goal is a hundred years from now.
Willie Jolley [00:20:36]:
Someone in fact, someone asked me in an interview one day, what’s the job what’s your biggest goal? My biggest goal that a hundred years from now, some child will walk into a room and see a picture of me and my wife, Dee, and run up and kiss it and say, thank you, great great great great granddaddy, great great great great grandmama. For what you did a hundred years ago to build a business for us, to create revenues for us, and let us have a home, and let us be able to have education, that’s our goal. Now I will never get to see it, Terry, but that’s my goal. There’s an old saying that the great ones, they plant trees that take eighty years to grow when they’re in their eighties. They’ll never sit under those trees. Yeah. But they do it because they’re thinking, future Yes. Minded.
Willie Jolley [00:21:21]:
So the book I want people to go, and they can preorder the book. It’s at richisgood, wealthy is better Com. People, I’m preordering this book in droves. I’m amazed. We’re still trying to finish the the production and the the editing and getting it out. There’s still a few months off, but when it comes out, we think it’s gonna be a huge book. Which is good? Wealthyisbetter.com. And so in the book, we talk about the different ways the different types, the eight, wealthy the eight income streams you need to know about.
Willie Jolley [00:21:54]:
We talk about the five money mindsets. We talk about, what separates the the real achievers from just getting by achievers. And we talk about, also, very important, the different types of money. One of the things you’ve talked about is AI, and we’re now realizing that this thing called crypto. And so the there are new digital forms of money. There are new ways that money will be generated via AI. And as I said by the way, for those who don’t know, I recently had Terry on my ex m show because he’s the key, the king, the the coupon of AI. He knows this stuff inside out.
Willie Jolley [00:22:37]:
And so I wanted my, listeners to learn from a real expert about AI. So I had Terry on, and then I knew about the stock raving entrepreneurs. And then my my show is a show that is heavily listened to by entrepreneurs, intrepreneurs, and small business people. So I said, I gotta have Terry on. And so when we did the interview, I said something at the beginning of the interview that Terry, you were able to concur. I said, people say that AI is gonna put you out of business or take your job. No. AI won’t take your job.
Willie Jolley [00:23:16]:
The person who understands and uses AI well Yeah. Will take your job.
Willie Jolley [00:23:20]:
Exactly. And right now, we’re seeing a shift, and I think it’s important. For those of you that are watching this, Think about it. We’re in an AI revolution that is changing our world today. And that means there’s opportunities there that didn’t exist before. But as you study it and you say, oh, okay. I can do this. I can implement that.
Willie Jolley [00:23:36]:
Because of AI, it’s a major change. Kinda like when we saw the Internet come around. It created new jobs that didn’t exist before. AI is the same thing. And so that’s why, well, I wanted to have you on here because I’m really excited about the book you have Yeah. And the impact that it is already having on people even before it’s out. Yeah. And I think that’s gonna be the way that we start thinking.
Willie Jolley [00:23:55]:
And that’s why one of the things I wanna do, I talk a lot about the nuts, bolts, and wiggle pins. Here’s what you should do. Get chat GPT, get perplexity, use these. That’s very important. But what Willie’s talking about comes before that, that you have the mindset to think, it’s okay to be wealthy, and here’s what I need to do, start thinking in that direction. What would you say to those entrepreneur that’s watching this that says, okay, I wanna do something, but what kind of mindset do they need? What’s the best thing to get started?
Willie Jolley [00:24:21]:
You know, I I spoke as you you said, I’m here in Orlando speaking. I spoke for Truist Bank today, and they are my sponsors for my Accenture as well as for my podcast. And someone asked that question. What what because they had open time for asking questions. But what is this the number one thing you would recommend, doctor Jolly, for doing? As I said, number one is remember your inputs determine your outputs. Mhmm. Garbage in, garbage out. Good stuff in, good stuff out.
Willie Jolley [00:24:49]:
You’ve got to be able and willing to learn. You must be in school. It’s an ongoing process. The the wealthy ones are always reading and developing themselves. They’re growing their thinking, and they’re focusing on the mindset, not just the skill set. Mindset and skill set are both important, but one is much more important than the other. Yes. Well, mindset is critically important.
Willie Jolley [00:25:15]:
Yeah. I I use the analogy that every year on draft day on NFL, a talented football, basketball player is drafted into major leagues or the professional ranks. And they had multimillion dollar contracts, and they’re just doing great. But remember what I said, five years after retirement, seventy percent over seventy percent percent of professional athletes are broke. Why? Because they focused first on a skill set rather than on a mindset. Mhmm. When you develop the mindset, then you will start to realize that you can’t spend all your money. You must live below your means and develop margin.
Willie Jolley [00:26:00]:
And that margin is the difference between what you bring in and what you’re able to live on, and that margin is what you use for investing Absolutely. And making the most. Everybody should be involved in a four zero one k or some sort of SEP or some sort of retirement plan. Because if we left and learn nothing else from COVID, is that the world can be turned upside down in a moment. We all know on March, I think it was nice. I remember on somewhere like 2020, my world flipped upside down. All my dates, I I was booked almost all all through the month, year of 2020. They went away like that.
Willie Jolley [00:26:35]:
Yep. All the money went away like that. But thank God we had invested. We had put away some money. We had some money saved for a rainy day because that was a rainy day.
Willie Jolley [00:26:46]:
It was a rainy year. So I’m a hell yeah. I’ll go longer.
Willie Jolley [00:26:49]:
So I wanna encourage everybody a couple of things. One, go to wjwow.com. W j wow, w 0 w Com. We have free resources there. As I would tell you, it’s your input determines your output. We have reef resources, digital books. We have audios. We have some music, things just to encourage you, and it’s free.
Willie Jolley [00:27:13]:
Go ahead and sign up or get get that free stuff and just and and and you can also sign up for my weekly newsletter that goes out Monday every Friday when I tell about the guests for my XM show and the lessons I learned in the interview. Plus, you can get access to my one minute motivational message every day, Monday through Friday. It’s on syndicated radio, in 49 markets on on radio, terrestrial radio, what we call. And then it’s also on social media that we send it out, and it’s a one minute short form message. Why do we do that? Because if you woke up this morning and it was cold and dreary and damp and clammy. What does your body want to do?
Willie Jolley [00:27:59]:
Move to Florida.
Willie Jolley [00:28:01]:
I had to show that. I had to be in Florida a little bit. Yeah. Well Occasionally, I’m in Florida. Y’all It does.
Willie Jolley [00:28:07]:
I would get it all day. Both days, a winner, really.
Willie Jolley [00:28:09]:
Yeah. So you I like that, though. But if you you don’t wanna get out of bed on those days. Yeah. Right. Bad. But if you woke up and it was sunny and bright and beautiful and glamorous and warm and birds are singing, you don’t wanna miss any of that beautiful day, so so you get busy. The same is true for your psyche.
Willie Jolley [00:28:27]:
If you wake up and you hear or if you had every day and woke up and heard how many people get killed, how many fires there were, how many little children you got snatched, how many new pandemics are on the way, how bad the economy is, it puts a cloud over your brain.
Willie Jolley [00:28:40]:
Oh, yeah.
Willie Jolley [00:28:40]:
Okay? And you’re not quite as active. But if you woke up and you heard a positive, upbeat message like this one, this is one of people’s favorite. Every morning in Africa, a gazelle wakes up. And those must run faster than the fastest lion, or it will be killed and eaten. Also, every morning in Africa, a lion wakes up, and those must outrun the slowest gazelle, or it will starve to death. It does not matter whether you are a lion or a gazelle. When the sun comes up, you better be running. Exactly.
Willie Jolley [00:29:09]:
And then you hear something positive like that every day. It puts some endorphins into your system. It gives you a positive mindset, and then you’re more apt to take advantage of that moment and do something where and if you do something, you try something, you attempt something, statistics show that out of those attempts, you’re gonna succeed more. And if you do that, you’re gonna you’re gonna win more, and that’s what we wanna do. So here’s what I got coming up. I got which is good, wealthy is better, will be out in the spring of of the year. Then a few months after that, we got a new book that’s in the copper called You Can Win Now, If You Know How. Mhmm.
Willie Jolley [00:29:46]:
And then the third one that wrong. That’s right. Yeah. Yeah. And then the third one is the new theology of achievement. Many people know I have a master’s degree in theology and a doctorate in theology, but I’m not a preacher. I am a theologian who understands achievement, and I want people to achieve and win and use the principles that I find powerful in the bible that can help you to win. And so I have, built this this my dissertation when I went to get my doctorate was so warmly received.
Willie Jolley [00:30:17]:
The the president, when I did my oral presentation, the president and the dean of the of the school sat in the back of the room, and they said, when are you leaving? Because it was California Graduate School of Theology. I said, you leave me right after my class, but I’m leaving tomorrow. They said, good. We’re gonna take you to lunch. And they offered me over lunch to become a professor at the university because they said, we need theologians to understand business and how business work and how you have synthesized theology and achievement and business into a so this new book, The New Theology of Achievement, will be out, after you can win now if you know how. Richard comes after Rich is Good. Wealthy is Better. One more thing I wanna hear people, wjy.com.
Willie Jolley [00:31:00]:
And if you just wanna access all of my websites, we have a suite of sites that you can go to one place and look at our business site, our motivation site. I wanna be a speaker site, our music site, a motivation for young people site, a faith based site. We got a bunch of sites, a goal setting site. You can go to winwithwillie.com.
Willie Jolley [00:31:25]:
Win with willie Com. Make sure willie can be spelled different ways.
Willie Jolley [00:31:29]:
Yeah. Either way you spell it, I will or take it in. Okay. But it’s w I l l I e. But you’re right. That is why we buy up all of the Willie ways you spell.
Willie Jolley [00:31:38]:
Good planning. Yeah. Good. And keep that in mind for those of you that have something similar to that. That’s exactly ways, make sure you get them all.
Willie Jolley [00:31:44]:
It’s worth it, but we don’t want and we try and make our websites easy to remember and repeatable. So that’s why winwithwillie.com, w j wow Com. If you wanna be a speaker, it’s you canspeaknow.com, y 0 u can speak now Com.
Willie Jolley [00:32:01]:
I win, Willie.
Willie Jolley [00:32:01]:
People will learn how to become a speaker. So all of those things are things that we wanna do. We wanna help people grow. We wanna help them succeed, and we’ve had a new monica. Well, what do you do, Willie? I had Mark LeBlanc on it. You know, he he’s big on being able to tell people what you do in a way that’s repeatable Mhmm. And it creates a meaningful conversation. What I do? I help you grow your wealth by growing yourself.
Willie Jolley [00:32:28]:
Well, you do that, and you help many people, me through the years. We’ve known each other now for over thirty years. Over thirty years. That’s right. Long time, and you’re my brother.
Willie Jolley [00:32:37]:
Yes. We talk about that often. Yes.
Willie Jolley [00:32:39]:
You are my brother. You have helped so many people. You’ve helped me. And for those of you watching this, you’re listening to this, you’re watching it, get to know this man. I know him one on one. When he goes through tough times, we’ve been able to be in some of those together. He’s a a strong man. He’s got a lot of wisdom.
Willie Jolley [00:32:54]:
When things are going well, he’s sharing that with others as well. This is a man you wanna get to know. Well, jolly Thank you, brother. I really appreciate you.
Willie Jolley [00:33:02]:
Here’s here’s the thing I wanna tell everybody. We got one more thing. Not only do we have a similar head Yes. Together, but we are also in the speaker hall of fame Yes. And we are Cabot recipients. Exactly. And that’s a big deal, and I’m very grateful that you supported me in my becoming a Cabot.
Willie Jolley [00:33:18]:
Yes. Indeed. And I
Willie Jolley [00:33:19]:
thank you for that.
Willie Jolley [00:33:20]:
Yes, sir.
Willie Jolley [00:33:20]:
And I’m honored to be I’m honored to be the first African American man to get a Cabot.
Willie Jolley [00:33:24]:
Oh, yeah. That’s correct.
Willie Jolley [00:33:25]:
Yeah. And so but to be able to have a cabin and and we both knew cabinet and Yes, sir. How he impacted lives and be able to serve. Service is the rent we pay for our space on this earth. So Yes.
Willie Jolley [00:33:36]:
That would also We’ll talk about that. He’s talking to make the pie bigger.
Willie Jolley [00:33:39]:
That’s right.
Willie Jolley [00:33:39]:
And and matter of fact, putting that together, we even have a day every year, March the fourteenth. Yes. That day, because it’s 03/14, was the start
Willie Jolley [00:33:49]:
of pie. That’s right.
Willie Jolley [00:33:50]:
And so that’s why we say make the pie bigger. So this is something that’s gonna get to know this man. He’s my brother, and, Willie, love you a bunch.
Willie Jolley [00:33:57]:
Thank you. I love you, Terry, and thank you. And, yeah, I’m entrepreneur. Oh, dude. Let me tell you one more thing. And I start reading entrepreneurs. In one of my books, I don’t know whether it was a setback set up for a comeback or turn setbacks into greenbacks or an attitude of excellence or it only takes a minute to change your life. One of those four books.
Willie Jolley [00:34:15]:
I remember writing about entrepreneurism, and someone that’s fine. What is an entrepreneur? And my definition of an entrepreneur is someone who designs and determines their destiny. I like that. They design and they determine their destiny. And if you’re a stark raving entrepreneur, you’re someone who’s willing to go crazy to design and determine your destiny and not let anything stop you. So as I said at the end of my XM show, I’ll say to each and every one of you, for sure, your best is yet to come. Keep it safe and keep moving ahead. Have a great day.
Willie Jolley [00:34:51]:
Alright. Well, and John, we really appreciate that. And those of you listening to this, think about these pearls of wisdom he’s got, a lot of truth in this. You probably wanna go back over this one and watch it another time. It’s good, but review this. Make sure you see it there. And come over and see us as Star Quaming Entrepreneurs. Gina Carter and I are delighted to be able to show you the nuts, bolts, and whittled pens of how to make that happen.
Willie Jolley [00:35:14]:
And with a mindset that William Jolly has been talking about, you can do it. I’m Terry Brock. Looking forward to hearing from you.
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