Knowing What Advisors Everyone Needs in Their Life – a Look Under the Hood

Show Notes

Paul Hood of Hood CPAs will be sitting down with Clay Clark and talking about knowing what advisors you need in your personal life and business.

NOTABLE QUOTABLE – “You are the average of the five people you most associate with,” Tim Ferris

FUN FACT – Who is Mike Maples Jr? –

  1. He has been on the Forbes Midas List since 2010 and was also named one of “8 Rising Stars” by FORTUNE Magazine. Before becoming a full-time investor, Mike was involved as a founder and operating executive at back-to-back startup IPOs, including Tivoli Systems (IPO TIVS, acquired by IBM) and Motive (IPO MOTV, acquired by Alcatel-Lucent.) Some of Mike’s investments include Twitter, Twitch.tv, ngmoco, Weebly, Chegg, Bazaarvoice, Spiceworks, Okta, and Demandforce. Mike is known for coining the term “Thunder Lizards,” which is a metaphor derived from Godzilla that describes the tiny number of truly exceptional companies that are wildly disruptive capitalist mutations. Mike likes to think of himself as a hunter of the “atomic eggs” that beget these companies.
    1. Link to 4 Hour Workweek podcast – The Man Who Taught Me How to Invest
      1. https://tim.blog/2017/12/16/the-man-who-taught-me-how-to-invest/
  1. The 4 Advisors every one Must Have:
    1. Attorney – Have one before you need one.
      1. Clay’s recommendation – Winters and King – www.wintersking.com – Call Wes Carter.
      2. Paul’s recommendation – Mysock, Chevaillier & Bolden, L.L.P. – http://tulsataxlaw.net/
    2. Financial Planner – Look for someone who is not just an “asset gatherer” or someone that is trying to put commission-based products on you.
    3. Consultant / Coach – Find someone in your life with expertise in the areas you want to grow. Learn from mentors and not from mistakes.

Accountant – Sit down with a proactive accountant to help you reverse engineer your financial needs to meet your future goals.

Business Coach | Ask Clay & Z Anything

Audio Transcription

Broadcasting from the thrivetime show studios in beatbox. That ross is toast everyone cpa in every way, but he’s a gentleman it’s time to take a look under your financial hood with paul hornand. Yes, welcome back to the way I look under the hood with paul hood, my name is clay clark and I am fired up to be joined here with paul hood, because paul typically this time of the year is an account and you guys have nothing going on so far. You didn’t interrupt the group, the vast nothingness. Do you have going on to spend an business coach hour with us really I mean that’s so you’re you’re swamped right now. Are you not? We are seven days a week. It’s crazy is great. Thank you. Jesus. Can you walk us in i. Just walked me into the what is going on at hood cpas, this time of your typical day in your schedule there, a hood cpas about every 30 minutes on the hour. Typically I try to stagger my days to where I have late appointments. We take appointments up into the evenings or saturday’s. Where were you know? This is the time of your work. Kind of balancing to extend that we try to push through is a clientoh money, you’ll just fun stuff, like that everybody’s excited about. What’s going on with the irs? How many clients do you guys work with hood cps? We have right, now., 3000 clients, you’re, helping all of these clients, father taxes it feels like I met with half of them last week, 5 weeks. How do you feel how you feel about it? I feel great. You know, I know your shirtless right now that don’t know but don’t feel bad I’m going to melt just standing beside him. He looks go good. I have i, have a reason for his activities, because we’re talking to me about advisors and the advisors that you put in your life, those people that you surround yourself with are going to declare for you. What is newall right then this is. This is big. This is big. I, don’t know! If we’re going to write this down because I’m telling you if you, if you get this idea, it’s going to change your life right to tim ferriss is the best selling author of a book called the. 4-hour workweek he’s not the first one to say it, but I think he says it very articulately in his book tools of titans.

But he says you are the average of the five people you, most associated with an inch app I want to put that on the show notes there again you are the average of the five people you, most associated with so again, if you’re hanging out with paul hood-and you said what’s going on, what’s going on, what are you up to man? What are you doing what’s going on? He would say to you when I got a fitness competition in 5 weeks, I have a growing company with thousands of clients. It’s tax season over by the way I’m also-and you have a list of things-he’s doing it’s, not a one-upmanship. He just has business coach goals so we’re going to talk about it, I’m going to go through all the different advisors paul that people should have I like to you to get your take on. Why this kind of advisor so important in your life, whether you choose to be an employee or employer these for advisors, absolutely critical, the first. What is the attorney now? The attorney is somebody that, if your ass, if you’re a small business owner, you definitely don’t want to wait until you have a problem to find one, because if once you need an attorney, it’s too late, good advice, kind of throughout life, I think I’m prepared for everything. I really really really really really feel strongly and passionately about everybody. Listen if you own a business finding an attorney paul. Can you talk to me cuz if it’s weird, because accounting is kind of like it’s weird, it’s where it’s at so it’s on the bridge between the entrepreneur and the lawyer is accounting. It seems like a lot of time to the lawyer the accountant to get involved in things. Are you have to work together on things talk to me about? Why everybody needs to have a solid attorney across is all the lines for for advisors, as we don’t know what we don’t know that you know I’ve been in business for a long time, I’m 50 years old and have done well. God bless me, but just last week, I called you and I thought.

I knew an answer and I said you know what maybe i, don’t so I called my attorney anna and he just kind of giggled and said:no, it’s quite the opposite. You should be concerned about a b and c, and you know the attorneys that I’m not a big fan of attorneys. You know, but as a genre genre, but you know if you get a good one, and you know the broncos are specialty. So sometimes you need a firm that specialize in different different areas of the law but they’re there to protect you and you know it’s the reason you say:don’t wait till you’re in trouble to call an business coach approved attorney is because if you would have called an attorney first, you maybe would not have been in that trouble, because their job is to protect you advisor. To get up, if you’re, if you’re asking me who’s going to turn who’s I want I want just give me a recommendation. We’re not allowed to fish air I can’t make any money as a result of endorsing this attorney, but I would recommend that everybody out there would use winters and king, and that’s the attorney that I’ve used for a long long time. They represent everybody from td jakes to joel, osteen, to joyce meyers, to craig, rochelle, life, church and then I tricked them into representing me, and so they are.

There are really really a top-notch firm and when you get a letter from winters and king, let’s save somebody’s trying to rip you off and employees try to take advantage of you or you find yourself in a dispute, a non-compete agreement, or you find yourself with false litigation you’re facing when you get a letter from the winter’s king letterhead, the other attorney the other person. You know that the attorney representing the person going after you, then you should go, but they are using winters and king. Oh, we probably don’t want to fight so that they have a reputation forking in litigation. Attorney that your buddies with you might recommend wasn’t out there maybe give him two options. You know I did a lot with tax attorneys. You know the irs gets to a certain point on here and I’m. Also, a farm here in town called my sock and chevalier I use them a lot. I use a furminator chevelle your but you’re, not you’re. Not here it’s cooler to say, chevalier, don’t you think I mean it like that. It reminds me of the busta rhymes song pass the courvoisier several around that. If you guys you know really, it depends on the need and what type of oil you need. I’ve got some some firm in bartlesville I use a lot, but if they go to my website, you know what play we’re offering a free hour power, and so it may be talking about that good of our website and fill out the form and we’re also giving away a snowball book by warren buffett into the minea man, who has thousands of clients, has grown hood cpas, and you want to really learn how to get become proactive about your accounting. Paul hood is offering a free copy of business coach favorite warren buffett’s book snowball, warren buffett book snowball snowball is the only authorized biography that warren buffett has ever allowed to be done at the only time he sat down with somebody to do an extended, extended interview. It’s very detailed called snowball, it’s a massive book and he was going to give you a free copy of the book snowball as well as an hour of his time to sit down with you and help. You become proactive about your finances. If you just go to hood cpas. Com, somebody might be saying to yourself what would that i? Don’t know what that was you just. Did you just say that website I was just trying to ride up there? What was that website? That website is hood? Cps.Com hood, cpas. Condo next, the next advisor, but it needs is a financial planner.

Why does everybody need a financial put in what does a financial plannerwell? You know that that word is thrown around a lot in a lot of people think that they know who a financial planner is, but the reality is as most people that call themselves financial planners or actually asked that gathers or you know they push products and financial planner when I do. Basically you put your money in the thing and I go bowling. It’s like it’s like multiply, multiply. What, i, say to my clients:cuz I’m, a financial planner, yeah i, hear that all the time I got license to to do pretty much any financial product about 18 years ago, because I got tired of my clients coming in and if they told me who they were meeting with or it was this financial house or that insurance company I could tell him about 80% of what they were invested in it without even knowing whether they were 8 or 80 or lights, and he is so. We basically do it when you what you, what you, what you would have to be an idiot, if you don’t do a new order, you know I’m saying so a lot of times I give someone a new buddy long time, I give them to annuities sims 3. It doesn’t really matter sometimes I get my phone nobody’s. I. Tell you I’m all about diversification. I mean you want want to know what I’m doing or t3 and nobody you know and then I’m a praying business coach mantis out, but they typically has to buy, hold and pray type strategy that before it goes bad and I bet. You got that you know. God gives a certain skills and talents and analysis and planters somebody that actually says it’s kind of like a clay I’d like it to a personal trainer. You know you set a business coach goal and you back into the process and and where you want to go and then where we need to go and then you execute your plan and then you measure the plan and that’s what I finish want to suck somebody’s going to help. You reverse engineer from your goals, figure out what you need to be doing now to reach the goal exactly everybody out there. You have to have these for advisors in your life. If you don’t have these for advisors in your life, you are going to make poor decisions. Okay, so I make sure recap in this one you have toi have an attorney. You have to have an attorney I recommend, winters and king and west carter. You can find them at winters, king.Com winters king.Com. Do you have to have a financial planner I’ll be at a self-serving recommendation? I can tell you we are on the show called the look under the hood with black hood and I can tell you. This I have run into I’m, not going to say thousands I’ve run into dozens of your clients, one particularly particularly particularly worked at the radio station, and so when they found out that you were an advertiser I got a call and they said it’s so fun to see that paul hood is going to be advertising because I’ve used him for over a decade and he’s awesome, he’s really kind help me get everything figured out and didn’t talk down to me.

He really treated me like a human went on and on and on then I was at a business conference conference and I see this large muscular man he’s probably six foot for a mountain of a manhe’s at the conference you know down down, and protein shakes and papa get the 260 lb just message. You bitch i, can bench more and he’s out there a clifton cars and stuff, and then he’s also telling me I talk to you in a bit seriously when we do for these i, don’t a business called colaw, fitness and I said how many locations do you have a media? Like you know you do you start up where you at I’ve got three locations:joplin I’ve got one in bartlesville of god. One in topeka and I said:we’d see how big are they like? You. I, like you know, six foot by 6 foot or square foot to wear pajamas. You know and I said who’s your accountout there who are listening if you’re looking for a financial planner without reservation, I would recommend that you would use paul hood with hood cps, it’s so good nice. Now one of them is it paul hood does he’s giving away a free copy of warren buffett’s snowball book written by just turning into warren buffett’s snowball book. That book is the only authorized biography that warren buffett has ever I’m allowed supposed what time his life. He sat down with somebody for weeks and sat down and told him all of his moves, and you can get that book and a one-hour consultation with paul hood to hood, cpas,, i, probably 300, plus dollars and fifty bucks time, plus a copy of that book. The next advisor every entrepreneur, every business owner every employee needs to have in your life is you need to have either a consultantor, a couch importance of having a consultant or a coach in your life and that this could be in the area fitness. This could be the area of growing your business, but you got to have somebody who had who knows the way and who has gone the way and can show you the way she was already gone to the mountaintop. That can show you specifically what you need to do to move from where you are right now in your life too early we want to beat you up, I mean you got to have somebody that can help.

You coach you along the path to success. Well, and it’s like we always say on the drive time show and look under the hood is learn from mentors, not mistakes, and especially when we’re talking about these areas of your life with finances and things that you’re building over a lifetime, you don’t want to start off making a lot of mistakes. So it was somebody like paul. You know we’re working with just the other day and they told me they said hey listen, I have been for my entire life time. I’ve been building websites and drupal and I said your entire lifetime. How old are you and lisa going to let you know for the last 5-6 yearsopen a business now this is going on. You know five six years, I’ve been using drupal I didn’t realize that the website that I built is it even find apple in google search with that’s not good. We had this discussion. We help the person switch the website over to wordpress and now they’re, making a lot of money things that you can do if you have an advisor in your life, otherwise you’re going to have to learn from mistakes. It’s up to you, learn from mentors or mistakes, stay tuned as look under the hood with paul hood, and now what time show studios in key box that rocks it’s toast number one cpa in every way, but he’s a gentleman it’s time to take a look under your financial hood with paul horn. Oh yeah woke up with paul hood. My name is clay clark in the former us sba entrepreneur of the year absolutely excited to be here with you today. Talk about a subject that I I really do believe is neglected i. So many people don’t know about this concept, but if they don’t understand how the people that you surround yourself absolutely dictate your future, you know tim ferriss is the best selling author of a business coach book called the 4-hour work week and I have notable quotable that he says his newest book called the tools of titans where he says you are. The average of the five people you most associated with no. This is a really fun store here. I, don’t know what to do if you listen to a lot of tim, ferriss I’m, not recently, but I have in the past yeah. So let me just give you the idea of this guy. What he decided to do was he decided to take this one principle and make it his entire life mantra? This was like his whole thing, so he moves to silicon valley when he moved to silicon valley’s, a college student news from princeton to silicon valley season, silicon valley and he’s doing like sales and he’s doing like outbound sales in a call center, and he ends up getting this idea to write a book. Long story short. He meets up with this guy named mike, maples jr and he says I want to write a book. I might be able to just you understand. Mike maples jr want to put him on the show notes. He actually was one of the early investors in twitter invested in uber and he is hit a lot of homeruns. So this is how he wrote the book, but probably would enjoy the stories of my writing. The book here, mike and I’m, trying to figure out what I should call the book and he wanted to call it.

You know the 4-hour workweek was one idea and the other one was like making money by dealing drugs or something great. It will put a link to the interview of mike, maples jr will put an interview to the link to the interview is, if you can hear this all link it good is mike said why don’t really care what you call the book, let’s just run ads. First written the book, you tell you right about what you going to do is going to run ads for the book titles. You think they’re going to work and goes, but I haven’t written the bucket when they click it. You’ll get a 404 error, which means you’re, not a website there and we’ll just track it. It seems like totally counter into it. She goes okay, so they run ads turns out. The 4-hour workweek was the book that the best title said. He says what I do now. This is what we want to do if you want to go to the bookstore and you want to take your book covers that we’ve been working on and you want to cover put it on books that are already there any sick. Is that legal doesn’t matter to go to the bookstore? Take the book covers that you’ve made up and wrap books that are on sale that are like the best our area and put them there and see which one people pick up. Because are you kidding me so he goes to the book stores and he’s counting how many times people pick up the book. The book I realize it’s not the right business coach book and it’s going to be weird, but the point is just track it. So this is before even wrote them and then he says:here’s the deal if we buy thousands of copies of the book, it’ll trigger the supply chains and you’ll be a heat seeker in the new york times, and then, if we keep doing that, you’ll be a new, york, times bestseller and if he will buy the book, because you are in fact in the cellar, here’s the deal the book.

It has to be good, no different than other book. So then he says to mike maples both take him as he says. Do you mind if I just invest in exactly what you invest in any investor, so I’m investing in things that you know I’m investing, tim millions of dollars into stock money into that stock? I don’t know but I like proportionately. Do it. So if you’re, putting a million and I might go to put in like 2000, can I just follow, you I can understand exactly what you’re investing nieces, yeah, okay, so tim ferriss ends up going from having a net worth of like $100,000 to like millions before he’s 35 is the result of just walking in the footsteps of mike maples jr in the podcast is on the 4-hour workweek. It’s called the man who taught me to invest with interviews, mike maples juniors. Let’s talk about that somebody out there who was just working off of guesswork. They don’t know what to do you as a an accountant and is a financial planner. You actually help people make a make a planet. That’s that right there could be a life-changer. You could be everybody’s mike, maples jr, my friend. Well, you know we try, but you know the the moral of that story is as mike maples knew. What the end result wanted to meet. You know wants to write a book, but the what’s the purpose for writing, but yeah you want to serve and you want to benefit people, but the reality is:is a dude want to sell this hotel is booked right, and so he started with the end in mind and soul lot of times an advisor, whether it’s a business coach like you, clay or a cpa that you know that, like us that can consider both all the business coach tax identification pill side. We start with the m in mind:where do you want to go? Why do you want to go there and then, let’s design this plan to get there, and you said it allows us to think outside the box because people-even all of us, we don’t know we don’t know you have to seek that advice. But the starting point is the end is where you want to be in and that’s what I think the more of that story? Don’t you think play i, do i, think there’s just so many people out there that we’re out there going through life blind but I probably should invest in this.

You know cuz I mean what do you think and your friend is like what time is it? Who are you? Where are my parents i? Don’t remember the last night that I do it too I mean it’ll, be at marshalls and you’re like well. I have a little bit of ice cream left tonight, 3 a.M. And it’s closer what’s on, and then it’s the paid programming it comes on there and it’s like do you want to own your own island? Do you and you put back to the station where it’s like? You can donate a dollar day to feed a kid i. Don’t like this y’all go back to go back in and do you want to make a million dollars a day or something of your own couch blonde haired, lady and some guy I used to work, at., domino’s and now I’m, making like a million dollars and I was i, guess i, don’t know if you’re wanting to make him in 2 hours or if you want to work on time and all this is what I have a secret system they’re going well I’ve got a little bit of a limit left on that credit card might as well by the business coach system to this, isn’t that they they shipped us at them to you.

They got the system they run around your tongue. Your buddy I got the app for a fitness competition. You look good. What kind of secrets of the illuminati want me to know? This makes a lot of sense. This is how most people are invested, but if you could have heard cpas. Com put see a pcp dot-com, you can schedule an actual proactive consultation with paul hood. Now paul hoodies, going to he’s easy, is benevolent dictator. Okay, he’s going to give you a free copy of warren buffett’s books, know, which is the only authorize book, only authorized biography that warren buffett is allowed to read his lifetime. What’s an actual in-depth interview with warren buffett and give you an hour of his time, were you going to ask him hey what hey man, what time what’s the secret system and then there is no secret system there, but there is a proven that since I want to talk about this next advisor, every entrepreneur needs to have. You have to have an account. Come on that dude, you have an business coach accountant, do the show. Is it look under the hood with paul hood tulsa’s number one cpa in every way, so I want all the wizards to do is i. Want you to not believe anything that paul hood is saying and I’d like for you to look up the google reviews while we’re talking, so you can pull it up on your smartphone to type in tootsie, pa reviews or hood cpa tulsa, hood, cps claremore, and you can see reviews from thousands of customers that he’s worked with but paul. Why are you humbly submit in yourself as the cpa everybody needs to know, play it again? It’s it’s hard to say stuff like this cuz i, don’t want to sound selfish feeling. Good. God bless me. We do really really well and I was taught a long time ago. If you want advice, you check the fruit on the tree and you know you know we do well. I put. The key is up for whatever reason:i have the ability to think outside the box, not to just look at one plus one is two and in a we can sit down and look at with the end in mind. We can say I’m, not an attorney, but we can talk about trust. We can talk about investing. We can talk about taxes, just a comprehensive planning approach to be proactive to look forward to get you where you want to go business coach weather rather than most accountants or even flinch. Planters of face planted grass that gathers the accounts or just looking at horse store call dad and put it on a tax return. Her financial statement-they don’t bring much future benefit to the table, is kind of like in accounting, yoda and so. I would just ask you this on a scale of 1 to 10. 10. Is your your regular account if it a scale of 1 to 10 10 is that they are very proactive and you feel like you’re ahead of the game and if a woman is like you’re behind, you are always react if you feel like you’re, never quite getting to where you want to go. I would ask you to write your account. If your account is eating less than 10. You got a call, paul hood, at, hood, strut, hood cbs.Com today and schedule.

A one-on-one consultation will give you a free copy of the of the book. I’ll look under the hoodie hook, you up with his book you’ll, get with warren buffett’s book to give you a copy of warren buffett’s book snowball. The only authorized biography, two guys ever put together and he’s going to give you that knowledge that you need, because she kept you half. You just have to how to proactive account. You have to do what you have to do is going to help you get your goals. Instead of all the sudden just say hey next week, we’ve got a whatever tax bill coming out. There’s, something kind of similar in here that I just noticed a minute ago, when you asked everybody to google hood cpas I’m, seeing that mr. Hood hear your 201 google reviews, 200 reviews, man, that is a game changer gratulations, but I work not to brag, but that’s just one of our three off. That’s what I’m talking about i, think about their two highly reviewed spot trust and just look him up everybody out there. You got a little bit of time. Freedom. Today you got probably an hour of power party to go mow the lawn right and trying to go out to baskin-robbins. You know probably sneak in and grab eliza body, everybody out there be business coach proactive this weekend and go to hood cpas., compliments, hood, cpas., com and schedule a one-on-one consultation with the hood teeth. I know you might be busy, you might be saying:i want to watch that show I really like the tv. A lot of things but I’m just telling you go to hood cpas, and schedule that 101 at consultation today, you will see you next week, I look under the hood

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