In the last decade, I’ve hired almost 700 people.

In this thread I will teach you how to hire, build (and KEEP) a world class team.

If you’ve ever felt “too much to do, not enough time,” read this 🧵 Table of Contents

In this thread I will cover the TYPES of labor, the different traps of compensation, how to build great CULTURE — and we’ll tie it up with a bit of practical advice if you’re just getting started.

Let’s go…

A thread on how I build companies

(This will 1,000% change your life and business forever if you STUDY it — don’t just read it, dissect this) #1 There are two main ways to build consulting / training brands…

The easiest (and quickest) is the “genius” model. Genius with a thousand helpers. In short, YOU are the business. Create content, publish it — have a few VAs and a training product and you’re in business…

To be successful, you have to fail (a lot).

Here are a few lessons on handling failure from the late great Walt Disney: 1/ At age nineteen Disney & Ub Iwerks founded Disney Commercial Artists in Kansas City. The firm lasted one month, dying from the lack of contracts or income.

A list of uncommon principles that will help you WIN in life and business.

I’ve paid ~$70M for these (and counting)

🧵 Quitting on time feels like quitting “too soon.” By the time it feels right, it’s usually too late.

Don’t be afraid to quit things that are no longer meaningful to you.

Poor people crave income.

Rich people crave assets.

Wealthy people crave time.

And time inevitably leads to legacy.

Here’s how to advance through the levels: Level 1: Cash + Cash Equivalents

Level 2: Non-variable + Collateralized

Level 3: Variable + Collateralized

Level 4: Variable, no collateral

Level 5: Speculative

You need to allocate properly from the bottom to the top… read this for more:

https://twitter.com/932750336179294208/status/1410706617780379650

BEHOLD (an opportunity)

It’s been ~8 months since I’ve had an executive assistant.

My previous EA was promoted, about 87 times and she is now my chief of staff and partnered into multiple companies.

When the time came to replace her, I decided I didn’t want one. Sometimes it’s nice getting in the weeds a bit and seeing what’s actually taking time and what isn’t…

We have grown a lot, and it’s about time for me to bring in another EA. My EAs are not your normal standard ’average’ EA position.

Updated $1B plan…

It’s been a while since I’ve gone hard on the thread game, but let’s dive in for another… you will likely make money just by reading this.

A year ago I decided I wasn’t enjoying the pace of my life.

I started writing about it here:

https://twitter.com/taylorawelch/status/1451919951321780229

And another:

https://twitter.com/taylorawelch/status/1450087725013651464

For the most part - if you’re a consultant / educator -you should just pretend recessions don’t exist.

Here are some risks that I’m hedging up though, if you want to be ahead of changing landscape 🏆 1. Operating capital from 3-4 months non variable to 9-12 months non variable.

I run my organizations lean, I want my cash in things that grow. But have raised the bar so we have more runway if needed.

I got called out on Twitter for being lazy in my posts lately 😅

When I resigned from the holding company in June, I took a few weeks to redesign what I wanted.

From 2014 to 2021, I was hauling. Didn’t really pause more than a few days and never got out “beyond” the next decade regarding vision. This led to fatigue, and burnout. Burnout doesn’t come from working too hard, it comes from not knowing where you’re going.

So in the summer, I designed.

Yesterday I got to hang with clients in Nashville.

Always a special time with incredible people.

The topic of recession came up and in most cases my advice (unless you’re trading day to day) is just to ignore it. BUT… It depends on the niche, industry, model, etc etc etc — one person in particular was concerned about growing if we’re heading into winter…

Here is what I told him.

In the Bible, there’s a story about two men named Paul & Silas.

They were thrown in prison because they were preaching about Jesus and wouldn’t stop.

In prison, they started worshipping.

The gates collapsed and everyone was saved and followed Jesus - even the guards. There are tons of stories like this in the Bible.

Storms drying up. Prison doors breaking open. Wars won supernaturally and provision given
when it was impossible.

I’ve read these stories my whole life but this morning I realized something about myself.

13 lessons that will make you happy as they make you rich: ✅ You can do ten times as much as you think you can but it will probably take you twice as long as you thought it would… don’t stop in the middle

✅ If you win too soon you won’t savor it, and will always wonder if you just ‘got lucky’

In May I started a new brand on the side.

Right before sabbatical.

It’s at 300k/mo and climbing. I can’t tell you everything I’m working on right now because half of it is under NDA and the other half you won’t know about it until you see it…

But what I *can* tell you is — you’re about to see me everywhere.

People were hating on my HELOC tweet a few weeks ago. Let me show you how this works.

To the pretend money Twitter folks who can’t count just sit down for a second and listen.

This will change your life 🧵 1. In 2017 I bought a house in Franklin TN for $535k.

We paid mortgage on it for 3 years cause I didn’t know an alternative.

I appraised it at $650k, got 80% LTV first lien HELOC (that means it paid off the mortgage) for a balance of $520k.

My current asset stack.

NFA

1. Whole life permanent insurance

After funded these are accessible at 90-95% LTV and the interest is free. Grows compounded every year @ 6% tax free.

👇👇👇 2. Long term triple net commercial.

Medical facilities. Restaurants with good finances, track records etc.

Usually 20 year leases and I always require rent guarantees from the corporate and usually personal levels for first few years during risk curve.

10 of my FAVORITE books. If I was starting over, I’d start by re reading these.

Here are the notes: 📚 The Road Less Stupid

By Keith Cunningham. He made (and subsequently lost) several 9 figures… and wrote a book with the lessons:

taylorwelch.notion.site/The-Road-Less-…

Last night someone delivered a car to my house.

Was supposed to be there at 7:30 and ended up being 10p due to “traffic” in Nashville.

At first I was kind of annoyed but when the guy pulled up he said “is this your house?”

I said yea it is. He goes, “What do you need and how can I work for you?” 😂

Turns out this young dude actually owns the car transportation company. Bought a truck 5 years ago and now has trucks and semis that transport cars all over the country.

A thread on creating wealth in the consulting niche…

By creating wealth I mean accumulating the capital and resources, along with accompanying skill set, to retire at any age with enough assets to pay the bill.

#BEGIN The idea is not ‘perpetual’ labor or work but rather, predetermined targets and systems that eventually work your time down to hyper-leverage.

To the extent you can make decisions BEFORE the “deciding” is needed, you will be successful.

“Comparison is the thief of joy.” Theodore Roosevelt

Six ways comparison steals from you and how to reverse them each: 1. Comparison inflates the success of other.

Fix: remember they are mortal. No one has any advantage over you except time & belief.

In 2018 people told me consulting was in a “massive bubble.”

In 2019 they told me to stop buying real estate “at the top.”

In 2020 they told me to stop hiring people as the economy was about to fracture.

People love to hear themselves talk.

I found my crew. I pay attention to what they say.

I ignore almost everybody else.

There is a path forward in all environments, all circumstances, and all economies.

Nothing will ever trap you behind your ability to “think, plan, and asapt.”

My favorite book by 500M net worth author Felix Dennis.

Everybody talks about his main book (How to Get Rich), but I think his follow up “The Narrow Road” is better.

Here are some favorite takeaways: First you can buy the book here. It’s worth a further study.

amazon.com/Narrow-Road-Br…

-Tenacity will eventually trump all other qualities, whether inherited, acquired, or mimicked.

-Forget glamour if the getting of money is your priority.