{"version":"1.0.0","segments":[{"speaker":"Victor Lagos","startTime":3.24,"endTime":5.01,"body":"Welcome to the"},{"speaker":"Victor Lagos","startTime":3.24,"endTime":5.01,"body":"Debt to Financial Freedom"},{"speaker":"Victor Lagos","startTime":5.01,"endTime":8.4,"body":"Podcast. I'm your host Victor"},{"speaker":"Victor Lagos","startTime":5.01,"endTime":8.4,"body":"Lagos and the founder of Lagos"},{"speaker":"Victor Lagos","startTime":8.4,"endTime":11.61,"body":"Financial. I've been in the"},{"speaker":"Victor Lagos","startTime":8.4,"endTime":11.61,"body":"finance and lending industry for"},{"speaker":"Victor Lagos","startTime":11.61,"endTime":15.06,"body":"16 years, and I've personally"},{"speaker":"Victor Lagos","startTime":11.61,"endTime":15.06,"body":"made financial mistakes and"},{"speaker":"Victor Lagos","startTime":15.06,"endTime":18.84,"body":"learn from them. I started this"},{"speaker":"Victor Lagos","startTime":15.06,"endTime":18.84,"body":"podcast to share stories and"},{"speaker":"Victor Lagos","startTime":18.84,"endTime":22.44,"body":"lessons on my own journey, and"},{"speaker":"Victor Lagos","startTime":18.84,"endTime":22.44,"body":"to share insights that may help"},{"speaker":"Victor Lagos","startTime":22.44,"endTime":25.65,"body":"others on their journey. And I"},{"speaker":"Victor Lagos","startTime":22.44,"endTime":25.65,"body":"interviewed people that I've"},{"speaker":"Victor Lagos","startTime":25.65,"endTime":28.95,"body":"connected with that share the"},{"speaker":"Victor Lagos","startTime":25.65,"endTime":28.95,"body":"same values and mission to help"},{"speaker":"Victor Lagos","startTime":28.95,"endTime":33.18,"body":"others create financial freedom."},{"speaker":"Victor Lagos","startTime":28.95,"endTime":33.18,"body":"My goal this podcast is to share"},{"speaker":"Victor Lagos","startTime":33.18,"endTime":37.41,"body":"raw, honest, transparent and"},{"speaker":"Victor Lagos","startTime":33.18,"endTime":37.41,"body":"helpful stories that you can"},{"speaker":"Victor Lagos","startTime":37.41,"endTime":41.01,"body":"relate to and inspires you to"},{"speaker":"Victor Lagos","startTime":37.41,"endTime":41.01,"body":"take control of your finances"},{"speaker":"Victor Lagos","startTime":41.22,"endTime":44.52,"body":"and only have debt that brings"},{"speaker":"Victor Lagos","startTime":41.22,"endTime":44.52,"body":"you closer to financial freedom."},{"speaker":"Victor Lagos","startTime":46.08,"endTime":49.98,"body":"Everything on this podcast is"},{"speaker":"Victor Lagos","startTime":46.08,"endTime":49.98,"body":"general in nature. And for"},{"speaker":"Victor Lagos","startTime":49.98,"endTime":53.61,"body":"education purposes only. None of"},{"speaker":"Victor Lagos","startTime":49.98,"endTime":53.61,"body":"your personal objectives,"},{"speaker":"Victor Lagos","startTime":53.64,"endTime":57.66,"body":"financial situation or needs has"},{"speaker":"Victor Lagos","startTime":53.64,"endTime":57.66,"body":"been taken into consideration. I"},{"speaker":"Victor Lagos","startTime":57.66,"endTime":61.41,"body":"highly recommend you seek"},{"speaker":"Victor Lagos","startTime":57.66,"endTime":61.41,"body":"personal financial, legal"},{"speaker":"Victor Lagos","startTime":61.5,"endTime":65.76,"body":"taxation and credit advice"},{"speaker":"Victor Lagos","startTime":61.5,"endTime":65.76,"body":"before you take any action on"},{"speaker":"Victor Lagos","startTime":65.88,"endTime":71.07,"body":"what has been heard on this"},{"speaker":"Victor Lagos","startTime":65.88,"endTime":71.07,"body":"podcast. Welcome to episode six"},{"speaker":"Victor Lagos","startTime":71.1,"endTime":74.49,"body":"of the debt to financial freedom"},{"speaker":"Victor Lagos","startTime":71.1,"endTime":74.49,"body":"podcast. I'm your host, Victor"},{"speaker":"Victor Lagos","startTime":74.49,"endTime":78.42,"body":"Lagos. I'm also the founder of"},{"speaker":"Victor Lagos","startTime":74.49,"endTime":78.42,"body":"loggers financial finance"},{"speaker":"Victor Lagos","startTime":78.42,"endTime":84.03,"body":"brokerage business, Philip Khao,"},{"speaker":"Victor Lagos","startTime":78.42,"endTime":84.03,"body":"he's my next guest today. Philip"},{"speaker":"Victor Lagos","startTime":84.03,"endTime":87.21,"body":"Khao is a chartered accountant,"},{"speaker":"Victor Lagos","startTime":84.03,"endTime":87.21,"body":"and a director of self"},{"speaker":"Victor Lagos","startTime":87.21,"endTime":90.69,"body":"accounting. He's also the co"},{"speaker":"Victor Lagos","startTime":87.21,"endTime":90.69,"body":"host of a new podcast called"},{"speaker":"Victor Lagos","startTime":90.69,"endTime":95.67,"body":"Solve to Evolve. Phil grew up in"},{"speaker":"Victor Lagos","startTime":90.69,"endTime":95.67,"body":"a single parent household and"},{"speaker":"Victor Lagos","startTime":95.67,"endTime":98.16,"body":"quickly learned the value of"},{"speaker":"Victor Lagos","startTime":95.67,"endTime":98.16,"body":"money and the importance of"},{"speaker":"Victor Lagos","startTime":98.16,"endTime":102.12,"body":"financial control at a very"},{"speaker":"Victor Lagos","startTime":98.16,"endTime":102.12,"body":"young age. His mom would always"},{"speaker":"Victor Lagos","startTime":102.12,"endTime":105.87,"body":"tell him that money doesn't grow"},{"speaker":"Victor Lagos","startTime":102.12,"endTime":105.87,"body":"on trees. And it still resonates"},{"speaker":"Victor Lagos","startTime":105.87,"endTime":110.07,"body":"with him to this very day, you"},{"speaker":"Victor Lagos","startTime":105.87,"endTime":110.07,"body":"could say that was destined to"},{"speaker":"Victor Lagos","startTime":110.07,"endTime":112.47,"body":"be a business that he was"},{"speaker":"Victor Lagos","startTime":110.07,"endTime":112.47,"body":"destined to be a business"},{"speaker":"Victor Lagos","startTime":112.47,"endTime":115.92,"body":"advisor. And after 15 years of"},{"speaker":"Victor Lagos","startTime":112.47,"endTime":115.92,"body":"working on his craft in the"},{"speaker":"Victor Lagos","startTime":115.92,"endTime":119.61,"body":"public practice, and for"},{"speaker":"Victor Lagos","startTime":115.92,"endTime":119.61,"body":"multinational corporations, he"},{"speaker":"Victor Lagos","startTime":119.61,"endTime":123.45,"body":"now provides business advisory"},{"speaker":"Victor Lagos","startTime":119.61,"endTime":123.45,"body":"to SMEs to install financial"},{"speaker":"Victor Lagos","startTime":123.45,"endTime":126.87,"body":"control and help them grow and"},{"speaker":"Victor Lagos","startTime":123.45,"endTime":126.87,"body":"operate a sustainable business."},{"speaker":"Victor Lagos","startTime":128.16,"endTime":128.79,"body":"Welcome, Phil."},{"speaker":"Philip Khao","startTime":129.29,"endTime":131.72,"body":"Thanks, Victor."},{"speaker":"Philip Khao","startTime":129.29,"endTime":131.72,"body":"What an intro. And thanks for"},{"speaker":"Philip Khao","startTime":131.72,"endTime":133.07,"body":"the plug, really appreciate it."},{"speaker":"Victor Lagos","startTime":133.47,"endTime":134.76,"body":"Oh, good, man,"},{"speaker":"Victor Lagos","startTime":133.47,"endTime":134.76,"body":"thanks for have actually been"},{"speaker":"Victor Lagos","startTime":134.76,"endTime":137.1,"body":"watching your podcast, I really"},{"speaker":"Victor Lagos","startTime":134.76,"endTime":137.1,"body":"like it. It's very informative."},{"speaker":"Victor Lagos","startTime":138.09,"endTime":140.73,"body":"You and your business partners,"},{"speaker":"Victor Lagos","startTime":138.09,"endTime":140.73,"body":"obviously, you've got quite a"},{"speaker":"Victor Lagos","startTime":140.73,"endTime":143.04,"body":"bit of experience. And you've"},{"speaker":"Victor Lagos","startTime":140.73,"endTime":143.04,"body":"focused on different things,"},{"speaker":"Victor Lagos","startTime":143.07,"endTime":146.13,"body":"which is great. But I wanted to"},{"speaker":"Victor Lagos","startTime":143.07,"endTime":146.13,"body":"share with the audience about"},{"speaker":"Victor Lagos","startTime":146.13,"endTime":149.22,"body":"how you and I connected. We"},{"speaker":"Victor Lagos","startTime":146.13,"endTime":149.22,"body":"connected last year through a"},{"speaker":"Victor Lagos","startTime":149.22,"endTime":152.19,"body":"networking organization that"},{"speaker":"Victor Lagos","startTime":149.22,"endTime":152.19,"body":"we're both a part of called BNI."},{"speaker":"Victor Lagos","startTime":153.3,"endTime":155.61,"body":"So Phil is actually the"},{"speaker":"Victor Lagos","startTime":153.3,"endTime":155.61,"body":"president of the chapter that"},{"speaker":"Victor Lagos","startTime":155.61,"endTime":159.69,"body":"we're in. I'm actually really"},{"speaker":"Victor Lagos","startTime":155.61,"endTime":159.69,"body":"glad that we met because you"},{"speaker":"Victor Lagos","startTime":159.69,"endTime":161.85,"body":"actually gave me a lot of"},{"speaker":"Victor Lagos","startTime":159.69,"endTime":161.85,"body":"inspiration at the beginning"},{"speaker":"Victor Lagos","startTime":161.88,"endTime":164.85,"body":"when I started my business last"},{"speaker":"Victor Lagos","startTime":161.88,"endTime":164.85,"body":"year, because I was earning"},{"speaker":"Victor Lagos","startTime":164.88,"endTime":170.58,"body":"earning decent money at my job."},{"speaker":"Victor Lagos","startTime":164.88,"endTime":170.58,"body":"But I knew that I could actually"},{"speaker":"Victor Lagos","startTime":170.58,"endTime":174.54,"body":"do it on my own. Because I had"},{"speaker":"Victor Lagos","startTime":170.58,"endTime":174.54,"body":"the support around me. And you"},{"speaker":"Victor Lagos","startTime":174.54,"endTime":177.33,"body":"helped me because you were able"},{"speaker":"Victor Lagos","startTime":174.54,"endTime":177.33,"body":"to, you know, look at the"},{"speaker":"Victor Lagos","startTime":177.33,"endTime":180.9,"body":"numbers and project where I"},{"speaker":"Victor Lagos","startTime":177.33,"endTime":180.9,"body":"needed to go and what work I"},{"speaker":"Victor Lagos","startTime":180.9,"endTime":185.43,"body":"needed to get there. So I want"},{"speaker":"Victor Lagos","startTime":180.9,"endTime":185.43,"body":"to sort of touch on that a"},{"speaker":"Victor Lagos","startTime":185.43,"endTime":188.37,"body":"little bit. Because I feel like"},{"speaker":"Victor Lagos","startTime":185.43,"endTime":188.37,"body":"there's a lot of business owners"},{"speaker":"Victor Lagos","startTime":188.4,"endTime":191.49,"body":"or potential business owners out"},{"speaker":"Victor Lagos","startTime":188.4,"endTime":191.49,"body":"there that don't get the"},{"speaker":"Victor Lagos","startTime":191.49,"endTime":195.06,"body":"numbers. And they're good at"},{"speaker":"Victor Lagos","startTime":191.49,"endTime":195.06,"body":"what they do. But because they"},{"speaker":"Victor Lagos","startTime":195.06,"endTime":198.06,"body":"don't get the numbers, they"},{"speaker":"Victor Lagos","startTime":195.06,"endTime":198.06,"body":"might end up creating like a job"},{"speaker":"Victor Lagos","startTime":198.06,"endTime":201.21,"body":"for themselves and a hard job."},{"speaker":"Victor Lagos","startTime":198.06,"endTime":201.21,"body":"So it's actually worse than if"},{"speaker":"Victor Lagos","startTime":201.21,"endTime":203.94,"body":"they're employed. Do you think"},{"speaker":"Victor Lagos","startTime":201.21,"endTime":203.94,"body":"that that happens a lot?"},{"speaker":"Philip Khao","startTime":204.72,"endTime":207.48,"body":"Yeah, that's right."},{"speaker":"Philip Khao","startTime":204.72,"endTime":207.48,"body":"I think, Well, look, firstly,"},{"speaker":"Philip Khao","startTime":207.51,"endTime":210.78,"body":"congratulations on that. And I'm"},{"speaker":"Philip Khao","startTime":207.51,"endTime":210.78,"body":"glad we met as well. So look, I"},{"speaker":"Philip Khao","startTime":210.78,"endTime":214.62,"body":"remember that conversation we"},{"speaker":"Philip Khao","startTime":210.78,"endTime":214.62,"body":"have I was driving down I think"},{"speaker":"Philip Khao","startTime":214.62,"endTime":218.25,"body":"it was the end for you called me"},{"speaker":"Philip Khao","startTime":214.62,"endTime":218.25,"body":"and you said fuel. I'm thinking"},{"speaker":"Philip Khao","startTime":218.25,"endTime":221.94,"body":"about this. And I'm thinking"},{"speaker":"Philip Khao","startTime":218.25,"endTime":221.94,"body":"about oh, actually, before you"},{"speaker":"Philip Khao","startTime":221.94,"endTime":226.02,"body":"said that you said you were"},{"speaker":"Philip Khao","startTime":221.94,"endTime":226.02,"body":"asking me all these questions to"},{"speaker":"Philip Khao","startTime":226.02,"endTime":228.84,"body":"set up the right structure,"},{"speaker":"Philip Khao","startTime":226.02,"endTime":228.84,"body":"things like that. Oh, yeah, do"},{"speaker":"Philip Khao","startTime":228.84,"endTime":231.84,"body":"that. Yeah, exactly. And I was"},{"speaker":"Philip Khao","startTime":228.84,"endTime":231.84,"body":"thinking, What is going on? Why"},{"speaker":"Philip Khao","startTime":231.84,"endTime":233.97,"body":"is he asking me so many"},{"speaker":"Philip Khao","startTime":231.84,"endTime":233.97,"body":"questions, but I had the time"},{"speaker":"Philip Khao","startTime":233.97,"endTime":236.34,"body":"to, you know, chat to you just"},{"speaker":"Philip Khao","startTime":233.97,"endTime":236.34,"body":"because I was stuck in traffic."},{"speaker":"Philip Khao","startTime":236.34,"endTime":239.79,"body":"Sydney traffic's are always"},{"speaker":"Philip Khao","startTime":236.34,"endTime":239.79,"body":"good. And so you know, I think"},{"speaker":"Philip Khao","startTime":239.79,"endTime":242.55,"body":"from there, I gave you a lot of"},{"speaker":"Philip Khao","startTime":239.79,"endTime":242.55,"body":"information and insight. And I"},{"speaker":"Philip Khao","startTime":242.55,"endTime":246.84,"body":"think, from that, the next time"},{"speaker":"Philip Khao","startTime":242.55,"endTime":246.84,"body":"we saw each other the next week,"},{"speaker":"Philip Khao","startTime":246.84,"endTime":249.48,"body":"you said, You know what, Phil,"},{"speaker":"Philip Khao","startTime":246.84,"endTime":249.48,"body":"thanks for the advice. I'm going"},{"speaker":"Philip Khao","startTime":249.48,"endTime":253.83,"body":"to jump in and do it myself and"},{"speaker":"Philip Khao","startTime":249.48,"endTime":253.83,"body":"pretty happy for you that you've"},{"speaker":"Philip Khao","startTime":253.83,"endTime":258.06,"body":"done that. And I feel like a lot"},{"speaker":"Philip Khao","startTime":253.83,"endTime":258.06,"body":"of people always think about"},{"speaker":"Philip Khao","startTime":258.06,"endTime":262.08,"body":"doing things. But then they"},{"speaker":"Philip Khao","startTime":258.06,"endTime":262.08,"body":"don't really action. It's always"},{"speaker":"Philip Khao","startTime":262.08,"endTime":265.89,"body":"thinking, thinking thinking, and"},{"speaker":"Philip Khao","startTime":262.08,"endTime":265.89,"body":"I don't do anything about it."},{"speaker":"Philip Khao","startTime":265.95,"endTime":269.94,"body":"And you know, inaction leads to"},{"speaker":"Philip Khao","startTime":265.95,"endTime":269.94,"body":"nothing, really. So I'm glad"},{"speaker":"Philip Khao","startTime":269.94,"endTime":274.77,"body":"that you've jumped in and done"},{"speaker":"Philip Khao","startTime":269.94,"endTime":274.77,"body":"that. Now, when you say a lot of"},{"speaker":"Philip Khao","startTime":274.77,"endTime":279.75,"body":"people get into business, and"},{"speaker":"Philip Khao","startTime":274.77,"endTime":279.75,"body":"they end up working harder than"},{"speaker":"Philip Khao","startTime":279.75,"endTime":284.01,"body":"their job. It's true. And I"},{"speaker":"Philip Khao","startTime":279.75,"endTime":284.01,"body":"would say generally, in the"},{"speaker":"Philip Khao","startTime":284.01,"endTime":290.13,"body":"first year of business, it's"},{"speaker":"Philip Khao","startTime":284.01,"endTime":290.13,"body":"always the hardest. Yeah, but he"},{"speaker":"Philip Khao","startTime":290.13,"endTime":294.96,"body":"should get easier and easier,"},{"speaker":"Philip Khao","startTime":290.13,"endTime":294.96,"body":"right? If you're, if you've got"},{"speaker":"Philip Khao","startTime":294.96,"endTime":298.29,"body":"a focus, you've got a plan and"},{"speaker":"Philip Khao","startTime":294.96,"endTime":298.29,"body":"you're working towards that."},{"speaker":"Philip Khao","startTime":298.95,"endTime":302.46,"body":"Your focus will become your"},{"speaker":"Philip Khao","startTime":298.95,"endTime":302.46,"body":"reality. But a lot of people are"},{"speaker":"Philip Khao","startTime":302.46,"endTime":306.78,"body":"fixated in just doing the work,"},{"speaker":"Philip Khao","startTime":302.46,"endTime":306.78,"body":"getting it done. What's next,"},{"speaker":"Philip Khao","startTime":306.99,"endTime":310.62,"body":"doing it without purpose. And so"},{"speaker":"Philip Khao","startTime":306.99,"endTime":310.62,"body":"what they find is in three years"},{"speaker":"Philip Khao","startTime":310.62,"endTime":313.47,"body":"time, four years time, they"},{"speaker":"Philip Khao","startTime":310.62,"endTime":313.47,"body":"continue loading up on their"},{"speaker":"Philip Khao","startTime":313.47,"endTime":317.13,"body":"workload, they don't have the"},{"speaker":"Philip Khao","startTime":313.47,"endTime":317.13,"body":"balance, they end up working a"},{"speaker":"Philip Khao","startTime":317.13,"endTime":320.01,"body":"lot higher than than they would"},{"speaker":"Philip Khao","startTime":317.13,"endTime":320.01,"body":"if they were just doing a job."},{"speaker":"Philip Khao","startTime":320.49,"endTime":326.79,"body":"And so what they need to do is"},{"speaker":"Philip Khao","startTime":320.49,"endTime":326.79,"body":"actually ask for help. Some"},{"speaker":"Philip Khao","startTime":326.79,"endTime":329.97,"body":"people go, I guess they're"},{"speaker":"Philip Khao","startTime":326.79,"endTime":329.97,"body":"pretty narrow minded, they're"},{"speaker":"Philip Khao","startTime":329.97,"endTime":333.3,"body":"very good at what they do. So"},{"speaker":"Philip Khao","startTime":329.97,"endTime":333.3,"body":"that they just continue doing"},{"speaker":"Philip Khao","startTime":333.3,"endTime":336.78,"body":"that without thinking about big"},{"speaker":"Philip Khao","startTime":333.3,"endTime":336.78,"body":"picture as to why they got into"},{"speaker":"Philip Khao","startTime":336.78,"endTime":341.07,"body":"business. And that's to reach"},{"speaker":"Philip Khao","startTime":336.78,"endTime":341.07,"body":"financial freedom, in essence,"},{"speaker":"Philip Khao","startTime":341.07,"endTime":345.9,"body":"right? Everyone wants that work"},{"speaker":"Philip Khao","startTime":341.07,"endTime":345.9,"body":"life balance. And so, yeah, a"},{"speaker":"Philip Khao","startTime":345.9,"endTime":349.86,"body":"lot of people need to, I guess,"},{"speaker":"Philip Khao","startTime":345.9,"endTime":349.86,"body":"take a step back, sometimes look"},{"speaker":"Philip Khao","startTime":349.86,"endTime":352.23,"body":"at the progress and go, you"},{"speaker":"Philip Khao","startTime":349.86,"endTime":352.23,"body":"know, what, how do I actually,"},{"speaker":"Philip Khao","startTime":353.07,"endTime":355.8,"body":"instead of working in the"},{"speaker":"Philip Khao","startTime":353.07,"endTime":355.8,"body":"business, how do I now work on"},{"speaker":"Philip Khao","startTime":355.8,"endTime":358.86,"body":"the business? How can the"},{"speaker":"Philip Khao","startTime":355.8,"endTime":358.86,"body":"business, how can I build the"},{"speaker":"Philip Khao","startTime":358.86,"endTime":363.27,"body":"business, so he operates without"},{"speaker":"Philip Khao","startTime":358.86,"endTime":363.27,"body":"me, because right now, a lot of"},{"speaker":"Philip Khao","startTime":363.27,"endTime":365.67,"body":"business owners in the first,"},{"speaker":"Philip Khao","startTime":363.27,"endTime":365.67,"body":"second, third, maybe fourth"},{"speaker":"Philip Khao","startTime":365.73,"endTime":369.9,"body":"year, the buck stops at them. If"},{"speaker":"Philip Khao","startTime":365.73,"endTime":369.9,"body":"they're not in the business, if"},{"speaker":"Philip Khao","startTime":369.9,"endTime":372.66,"body":"they get injured, the business"},{"speaker":"Philip Khao","startTime":369.9,"endTime":372.66,"body":"is screwed, they're gone."},{"speaker":"Victor Lagos","startTime":372.899,"endTime":375.839,"body":"That's very"},{"speaker":"Victor Lagos","startTime":372.899,"endTime":375.839,"body":"common. They call that key man"},{"speaker":"Victor Lagos","startTime":375.839,"endTime":379.619,"body":"dependency. And it's a scary"},{"speaker":"Victor Lagos","startTime":375.839,"endTime":379.619,"body":"place to be when you hire"},{"speaker":"Victor Lagos","startTime":379.619,"endTime":383.579,"body":"people, and they're all their"},{"speaker":"Victor Lagos","startTime":379.619,"endTime":383.579,"body":"payroll, their entire life is"},{"speaker":"Victor Lagos","startTime":383.579,"endTime":387.599,"body":"based on you working and being"},{"speaker":"Victor Lagos","startTime":383.579,"endTime":387.599,"body":"available. So if you get sick,"},{"speaker":"Victor Lagos","startTime":387.599,"endTime":389.969,"body":"if you take a holiday, if you"},{"speaker":"Victor Lagos","startTime":387.599,"endTime":389.969,"body":"have a kid, you want to travel"},{"speaker":"Victor Lagos","startTime":389.969,"endTime":395.009,"body":"overseas, and the business"},{"speaker":"Victor Lagos","startTime":389.969,"endTime":395.009,"body":"doesn't have you? Well, it falls"},{"speaker":"Victor Lagos","startTime":395.009,"endTime":396.089,"body":"apart. So"},{"speaker":"Philip Khao","startTime":396.269,"endTime":399.209,"body":"it's, it's scary. I"},{"speaker":"Philip Khao","startTime":396.269,"endTime":399.209,"body":"mean, look, there's insurance"},{"speaker":"Philip Khao","startTime":399.209,"endTime":401.279,"body":"for it, but you don't want to be"},{"speaker":"Philip Khao","startTime":399.209,"endTime":401.279,"body":"paying insurance for your life."},{"speaker":"Philip Khao","startTime":401.279,"endTime":405.479,"body":"But it is scary. Like if you go"},{"speaker":"Philip Khao","startTime":401.279,"endTime":405.479,"body":"out in business on your own, God"},{"speaker":"Philip Khao","startTime":405.479,"endTime":409.079,"body":"forbid something happens to on"},{"speaker":"Philip Khao","startTime":405.479,"endTime":409.079,"body":"the on the ski slopes or"},{"speaker":"Philip Khao","startTime":409.109,"endTime":412.349,"body":"whatever you're doing sporting"},{"speaker":"Philip Khao","startTime":409.109,"endTime":412.349,"body":"activity, you know, how are you"},{"speaker":"Philip Khao","startTime":412.349,"endTime":414.959,"body":"going to earn that income? And"},{"speaker":"Philip Khao","startTime":412.349,"endTime":414.959,"body":"especially those not in a"},{"speaker":"Philip Khao","startTime":414.959,"endTime":419.369,"body":"service based business? They're"},{"speaker":"Philip Khao","startTime":414.959,"endTime":419.369,"body":"even more screwed, right? So"},{"speaker":"Philip Khao","startTime":419.369,"endTime":425.279,"body":"it's having a plan or for"},{"speaker":"Philip Khao","startTime":419.369,"endTime":425.279,"body":"thinking forward about? How do I"},{"speaker":"Philip Khao","startTime":425.429,"endTime":428.429,"body":"build this business? So it"},{"speaker":"Philip Khao","startTime":425.429,"endTime":428.429,"body":"doesn't need me. And that's what"},{"speaker":"Philip Khao","startTime":428.429,"endTime":434.609,"body":"a business is. It can operate"},{"speaker":"Philip Khao","startTime":428.429,"endTime":434.609,"body":"without you being in otherwise,"},{"speaker":"Philip Khao","startTime":434.609,"endTime":440.309,"body":"you're really just an employee"},{"speaker":"Philip Khao","startTime":434.609,"endTime":440.309,"body":"or family run owned business."},{"speaker":"Philip Khao","startTime":441.149,"endTime":441.569,"body":"Yeah, and I"},{"speaker":"Victor Lagos","startTime":441.57,"endTime":444.69,"body":"think a lot of"},{"speaker":"Victor Lagos","startTime":441.57,"endTime":444.69,"body":"people don't plan ahead, or"},{"speaker":"Victor Lagos","startTime":444.69,"endTime":447.78,"body":"don't ask for help. And they"},{"speaker":"Victor Lagos","startTime":444.69,"endTime":447.78,"body":"think that they can just keep"},{"speaker":"Victor Lagos","startTime":447.78,"endTime":451.44,"body":"doing what they do, and it will"},{"speaker":"Victor Lagos","startTime":447.78,"endTime":451.44,"body":"get better. You know, I used to"},{"speaker":"Victor Lagos","startTime":451.44,"endTime":454.26,"body":"be someone that used to put my"},{"speaker":"Victor Lagos","startTime":451.44,"endTime":454.26,"body":"head in the sand when it came to"},{"speaker":"Victor Lagos","startTime":454.26,"endTime":458.16,"body":"the finances. My wife really"},{"speaker":"Victor Lagos","startTime":454.26,"endTime":458.16,"body":"helped me with that, to just"},{"speaker":"Victor Lagos","startTime":458.25,"endTime":461.7,"body":"face to face the facts look at"},{"speaker":"Victor Lagos","startTime":458.25,"endTime":461.7,"body":"and say, What are my numbers"},{"speaker":"Victor Lagos","startTime":461.7,"endTime":465.81,"body":"look like? And the numbers are"},{"speaker":"Victor Lagos","startTime":461.7,"endTime":465.81,"body":"literally just money in and"},{"speaker":"Victor Lagos","startTime":465.81,"endTime":470.1,"body":"money out. Right? And when is"},{"speaker":"Victor Lagos","startTime":465.81,"endTime":470.1,"body":"when is when a payments due? And"},{"speaker":"Victor Lagos","startTime":470.1,"endTime":472.5,"body":"where's the money coming from to"},{"speaker":"Victor Lagos","startTime":470.1,"endTime":472.5,"body":"pay them? It's literally that"},{"speaker":"Victor Lagos","startTime":472.5,"endTime":477.09,"body":"simple. But what happens is when"},{"speaker":"Victor Lagos","startTime":472.5,"endTime":477.09,"body":"you're on the tools, and you're"},{"speaker":"Victor Lagos","startTime":477.09,"endTime":479.61,"body":"doing your job, and you think,"},{"speaker":"Victor Lagos","startTime":477.09,"endTime":479.61,"body":"Okay, I'm doing a good job, I'm"},{"speaker":"Victor Lagos","startTime":479.61,"endTime":481.8,"body":"gonna have customers money is"},{"speaker":"Victor Lagos","startTime":479.61,"endTime":481.8,"body":"gonna come in, I'll be able to"},{"speaker":"Victor Lagos","startTime":481.8,"endTime":485.37,"body":"pay the bill. But then, you"},{"speaker":"Victor Lagos","startTime":481.8,"endTime":485.37,"body":"know, invoice doesn't get paid,"},{"speaker":"Victor Lagos","startTime":485.7,"endTime":489.36,"body":"it's late, customer pulls out,"},{"speaker":"Victor Lagos","startTime":485.7,"endTime":489.36,"body":"you know, anything can happen,"},{"speaker":"Victor Lagos","startTime":489.36,"endTime":491.76,"body":"all of a sudden, you don't have"},{"speaker":"Victor Lagos","startTime":489.36,"endTime":491.76,"body":"enough money to cover the bills."},{"speaker":"Victor Lagos","startTime":492.24,"endTime":495.6,"body":"And then you're in a, you know,"},{"speaker":"Victor Lagos","startTime":492.24,"endTime":495.6,"body":"in a backward spiral at this"},{"speaker":"Victor Lagos","startTime":495.6,"endTime":498.96,"body":"point, because you're chasing"},{"speaker":"Victor Lagos","startTime":495.6,"endTime":498.96,"body":"your tail. And, and the whole"},{"speaker":"Victor Lagos","startTime":498.96,"endTime":502.32,"body":"point of this podcast is to"},{"speaker":"Victor Lagos","startTime":498.96,"endTime":502.32,"body":"teach people about financial"},{"speaker":"Victor Lagos","startTime":502.32,"endTime":506.19,"body":"freedom from multiple angles. So"},{"speaker":"Victor Lagos","startTime":502.32,"endTime":506.19,"body":"I did want to ask you, you did"},{"speaker":"Victor Lagos","startTime":506.19,"endTime":509.01,"body":"touch on that earlier. But what"},{"speaker":"Victor Lagos","startTime":506.19,"endTime":509.01,"body":"does financial freedom mean to"},{"speaker":"Victor Lagos","startTime":509.01,"endTime":509.22,"body":"you?"},{"speaker":"Philip Khao","startTime":510.75,"endTime":513.21,"body":"Yeah, okay,"},{"speaker":"Philip Khao","startTime":510.75,"endTime":513.21,"body":"financial freedom. So I mean,"},{"speaker":"Philip Khao","startTime":514.53,"endTime":518.28,"body":"what it means to me personally,"},{"speaker":"Philip Khao","startTime":514.53,"endTime":518.28,"body":"is, is being able to give back"},{"speaker":"Philip Khao","startTime":518.7,"endTime":521.64,"body":"to my mom, you know, you"},{"speaker":"Philip Khao","startTime":518.7,"endTime":521.64,"body":"mentioned that I was raised in a"},{"speaker":"Philip Khao","startTime":521.64,"endTime":525.81,"body":"single mother household, she did"},{"speaker":"Philip Khao","startTime":521.64,"endTime":525.81,"body":"quite a lot. For my sister and I"},{"speaker":"Philip Khao","startTime":525.84,"endTime":529.11,"body":"growing up, you know, father"},{"speaker":"Philip Khao","startTime":525.84,"endTime":529.11,"body":"left us at an early age haven't"},{"speaker":"Philip Khao","startTime":529.11,"endTime":534.06,"body":"seen him since. And so he or she"},{"speaker":"Philip Khao","startTime":529.11,"endTime":534.06,"body":"sorry, effectively worked two"},{"speaker":"Philip Khao","startTime":534.06,"endTime":539.28,"body":"jobs just to get put us into"},{"speaker":"Philip Khao","startTime":534.06,"endTime":539.28,"body":"school. And she did a lot for"},{"speaker":"Philip Khao","startTime":539.28,"endTime":542.73,"body":"us, just to give us a better"},{"speaker":"Philip Khao","startTime":539.28,"endTime":542.73,"body":"life. And I'm sure all parents"},{"speaker":"Philip Khao","startTime":542.73,"endTime":546.24,"body":"do that. So it might be a little"},{"speaker":"Philip Khao","startTime":542.73,"endTime":546.24,"body":"bit cliche, but financial"},{"speaker":"Philip Khao","startTime":546.24,"endTime":550.26,"body":"freedom means giving back to her"},{"speaker":"Philip Khao","startTime":546.24,"endTime":550.26,"body":"giving back and being able to"},{"speaker":"Philip Khao","startTime":550.26,"endTime":553.98,"body":"now support my family, so that"},{"speaker":"Philip Khao","startTime":550.26,"endTime":553.98,"body":"they don't have to go through"},{"speaker":"Philip Khao","startTime":553.98,"endTime":557.7,"body":"the hardship that one my mother"},{"speaker":"Philip Khao","startTime":553.98,"endTime":557.7,"body":"went through, and two that I had"},{"speaker":"Philip Khao","startTime":557.7,"endTime":561.81,"body":"to go through as well. So I"},{"speaker":"Philip Khao","startTime":557.7,"endTime":561.81,"body":"think financial freedom just"},{"speaker":"Philip Khao","startTime":561.81,"endTime":564.93,"body":"means and I think for most"},{"speaker":"Philip Khao","startTime":561.81,"endTime":564.93,"body":"people would mean that they"},{"speaker":"Philip Khao","startTime":564.93,"endTime":568.14,"body":"don't have to worry about money."},{"speaker":"Philip Khao","startTime":564.93,"endTime":568.14,"body":"You can make a decision without"},{"speaker":"Philip Khao","startTime":568.17,"endTime":573.54,"body":"worrying, knowing that are not"},{"speaker":"Philip Khao","startTime":568.17,"endTime":573.54,"body":"thinking about the bills to pay"},{"speaker":"Philip Khao","startTime":573.6,"endTime":577.98,"body":"that are coming up going on"},{"speaker":"Philip Khao","startTime":573.6,"endTime":577.98,"body":"holidays, thinking about oh, I"},{"speaker":"Philip Khao","startTime":577.98,"endTime":582.78,"body":"need to budget for that. So"},{"speaker":"Philip Khao","startTime":577.98,"endTime":582.78,"body":"getting to that point. I'd be"},{"speaker":"Philip Khao","startTime":582.78,"endTime":588.09,"body":"pretty happy but I guess to take"},{"speaker":"Philip Khao","startTime":582.78,"endTime":588.09,"body":"it a step further. Financial"},{"speaker":"Philip Khao","startTime":588.09,"endTime":593.85,"body":"freedom, what it looks like for"},{"speaker":"Philip Khao","startTime":588.09,"endTime":593.85,"body":"me is actually freedom. Right?"},{"speaker":"Philip Khao","startTime":593.85,"endTime":596.88,"body":"So I think all of us talk about"},{"speaker":"Philip Khao","startTime":593.85,"endTime":596.88,"body":"financial freedom, but more so"},{"speaker":"Philip Khao","startTime":596.88,"endTime":603.15,"body":"we're really craving freedom"},{"speaker":"Philip Khao","startTime":596.88,"endTime":603.15,"body":"meaning If I want to be able to"},{"speaker":"Philip Khao","startTime":603.15,"endTime":611.01,"body":"do what I want, when I want, and"},{"speaker":"Philip Khao","startTime":603.15,"endTime":611.01,"body":"how I want. And at that point, I"},{"speaker":"Philip Khao","startTime":611.01,"endTime":614.25,"body":"can retire. And I'm hoping that"},{"speaker":"Philip Khao","startTime":611.01,"endTime":614.25,"body":"you know, in a few years, yeah,"},{"speaker":"Philip Khao","startTime":614.28,"endTime":617.25,"body":"because retirement for me"},{"speaker":"Philip Khao","startTime":614.28,"endTime":617.25,"body":"doesn't, it's not about sitting"},{"speaker":"Philip Khao","startTime":617.25,"endTime":621.57,"body":"on the beach sipping on"},{"speaker":"Philip Khao","startTime":617.25,"endTime":621.57,"body":"cocktails chilling out, I can't"},{"speaker":"Philip Khao","startTime":621.57,"endTime":625.02,"body":"do that, like, after two days,"},{"speaker":"Philip Khao","startTime":621.57,"endTime":625.02,"body":"my mind goes numb, I need"},{"speaker":"Philip Khao","startTime":625.02,"endTime":632.07,"body":"something to do. Freedom to me"},{"speaker":"Philip Khao","startTime":625.02,"endTime":632.07,"body":"is or retirement is not means to"},{"speaker":"Philip Khao","startTime":632.07,"endTime":637.89,"body":"me is where I can own there are"},{"speaker":"Philip Khao","startTime":632.07,"endTime":637.89,"body":"working different businesses own"},{"speaker":"Philip Khao","startTime":637.92,"endTime":643.68,"body":"various businesses and be able"},{"speaker":"Philip Khao","startTime":637.92,"endTime":643.68,"body":"to run that and sort of pick and"},{"speaker":"Philip Khao","startTime":643.68,"endTime":644.94,"body":"choose when I work in."},{"speaker":"Victor Lagos","startTime":645.09,"endTime":648.27,"body":"Yeah, so it's kind"},{"speaker":"Victor Lagos","startTime":645.09,"endTime":648.27,"body":"of like, high level involvement."},{"speaker":"Victor Lagos","startTime":648.6,"endTime":652.08,"body":"So you don't, businesses don't"},{"speaker":"Victor Lagos","startTime":648.6,"endTime":652.08,"body":"need you to operate. But you can"},{"speaker":"Victor Lagos","startTime":652.08,"endTime":656.49,"body":"come in with an oversight of the"},{"speaker":"Victor Lagos","startTime":652.08,"endTime":656.49,"body":"management and, you know,"},{"speaker":"Victor Lagos","startTime":656.49,"endTime":659.25,"body":"someone else's handling the"},{"speaker":"Victor Lagos","startTime":656.49,"endTime":659.25,"body":"operations. And you can come in"},{"speaker":"Victor Lagos","startTime":659.25,"endTime":662.7,"body":"with strategy. And, you know,"},{"speaker":"Victor Lagos","startTime":659.25,"endTime":662.7,"body":"just see how everything's going,"},{"speaker":"Victor Lagos","startTime":662.73,"endTime":663.12,"body":"just get"},{"speaker":"Philip Khao","startTime":663.12,"endTime":665.91,"body":"my it's just, it's"},{"speaker":"Philip Khao","startTime":663.12,"endTime":665.91,"body":"just to get my brain ticking."},{"speaker":"Philip Khao","startTime":666.51,"endTime":670.11,"body":"And, you know, I guess, for me,"},{"speaker":"Philip Khao","startTime":666.51,"endTime":670.11,"body":"I like challenges. Yeah. And"},{"speaker":"Philip Khao","startTime":670.11,"endTime":675.39,"body":"that's why I kind of chose to"},{"speaker":"Philip Khao","startTime":670.11,"endTime":675.39,"body":"focus on business advisory, or"},{"speaker":"Philip Khao","startTime":675.42,"endTime":679.59,"body":"businesses, because a lot of"},{"speaker":"Philip Khao","startTime":675.42,"endTime":679.59,"body":"businesses go through a lot of"},{"speaker":"Philip Khao","startTime":679.59,"endTime":682.59,"body":"challenges and problems and"},{"speaker":"Philip Khao","startTime":679.59,"endTime":682.59,"body":"obstacles. And I like when"},{"speaker":"Philip Khao","startTime":682.59,"endTime":686.34,"body":"clients come to me with a"},{"speaker":"Philip Khao","startTime":682.59,"endTime":686.34,"body":"particular issue, and they've"},{"speaker":"Philip Khao","startTime":686.34,"endTime":689.13,"body":"got no clue what to do, or there"},{"speaker":"Philip Khao","startTime":686.34,"endTime":689.13,"body":"might have a clue, but they just"},{"speaker":"Philip Khao","startTime":689.13,"endTime":693.03,"body":"need help. And going on that"},{"speaker":"Philip Khao","startTime":689.13,"endTime":693.03,"body":"journey with them from point A"},{"speaker":"Philip Khao","startTime":693.06,"endTime":697.02,"body":"to point D, and then being able"},{"speaker":"Philip Khao","startTime":693.06,"endTime":697.02,"body":"to see the result. And how it"},{"speaker":"Philip Khao","startTime":697.02,"endTime":700.59,"body":"makes them feel is amazing."},{"speaker":"Philip Khao","startTime":697.02,"endTime":700.59,"body":"Yeah, it's amazing."},{"speaker":"Victor Lagos","startTime":701.13,"endTime":704.22,"body":"No, no, I really"},{"speaker":"Victor Lagos","startTime":701.13,"endTime":704.22,"body":"love that. You genuinely care."},{"speaker":"Victor Lagos","startTime":704.22,"endTime":706.92,"body":"That's why I invited you to come"},{"speaker":"Victor Lagos","startTime":704.22,"endTime":706.92,"body":"on the show. Because, you know,"},{"speaker":"Victor Lagos","startTime":707.7,"endTime":710.85,"body":"there's many people out there"},{"speaker":"Victor Lagos","startTime":707.7,"endTime":710.85,"body":"that do have a business, and"},{"speaker":"Victor Lagos","startTime":710.85,"endTime":713.19,"body":"they don't know numbers, and"},{"speaker":"Victor Lagos","startTime":710.85,"endTime":713.19,"body":"they don't plan ahead and or"},{"speaker":"Victor Lagos","startTime":713.19,"endTime":715.89,"body":"have someone to guide them"},{"speaker":"Victor Lagos","startTime":713.19,"endTime":715.89,"body":"through that. But you genuinely"},{"speaker":"Victor Lagos","startTime":715.89,"endTime":721.14,"body":"do that. And you you help your"},{"speaker":"Victor Lagos","startTime":715.89,"endTime":721.14,"body":"clients to achieve that, you"},{"speaker":"Victor Lagos","startTime":721.14,"endTime":722.79,"body":"know, I wouldn't say you hold"},{"speaker":"Victor Lagos","startTime":721.14,"endTime":722.79,"body":"their hand, but you keep them"},{"speaker":"Victor Lagos","startTime":722.79,"endTime":727.38,"body":"accountable. You and you create"},{"speaker":"Victor Lagos","startTime":722.79,"endTime":727.38,"body":"measures to track their"},{"speaker":"Victor Lagos","startTime":727.38,"endTime":729.87,"body":"progress, because there's a"},{"speaker":"Victor Lagos","startTime":727.38,"endTime":729.87,"body":"saying that you know, what gets"},{"speaker":"Victor Lagos","startTime":729.87,"endTime":734.07,"body":"measured, gets managed, or what"},{"speaker":"Victor Lagos","startTime":729.87,"endTime":734.07,"body":"gets measured gets done, right."},{"speaker":"Victor Lagos","startTime":735.24,"endTime":737.31,"body":"But I did actually want to ask"},{"speaker":"Victor Lagos","startTime":735.24,"endTime":737.31,"body":"you, you touched on your"},{"speaker":"Victor Lagos","startTime":737.31,"endTime":740.04,"body":"personal story. And thank you"},{"speaker":"Victor Lagos","startTime":737.31,"endTime":740.04,"body":"for sharing that. Because I"},{"speaker":"Victor Lagos","startTime":740.04,"endTime":743.34,"body":"think the why is so important in"},{"speaker":"Victor Lagos","startTime":740.04,"endTime":743.34,"body":"what we do, you know, give back"},{"speaker":"Victor Lagos","startTime":743.34,"endTime":746.01,"body":"to our family, get back to our"},{"speaker":"Victor Lagos","startTime":743.34,"endTime":746.01,"body":"parents. And, you know, I just"},{"speaker":"Victor Lagos","startTime":746.01,"endTime":750.36,"body":"want to acknowledge you because"},{"speaker":"Victor Lagos","startTime":746.01,"endTime":750.36,"body":"it's not an easy thing to not"},{"speaker":"Victor Lagos","startTime":750.36,"endTime":754.05,"body":"have a father growing up. I"},{"speaker":"Victor Lagos","startTime":750.36,"endTime":754.05,"body":"can't personally relate, my dad"},{"speaker":"Victor Lagos","startTime":754.05,"endTime":756.78,"body":"has been around and he's still"},{"speaker":"Victor Lagos","startTime":754.05,"endTime":756.78,"body":"around, my parents are married."},{"speaker":"Victor Lagos","startTime":757.14,"endTime":760.41,"body":"But I know many people are in"},{"speaker":"Victor Lagos","startTime":757.14,"endTime":760.41,"body":"similar situations to where"},{"speaker":"Victor Lagos","startTime":760.41,"endTime":763.44,"body":"they've had to put that hat on"},{"speaker":"Victor Lagos","startTime":760.41,"endTime":763.44,"body":"and be be the man of the house."},{"speaker":"Victor Lagos","startTime":763.44,"endTime":768.27,"body":"And I can imagine it's a tough"},{"speaker":"Victor Lagos","startTime":763.44,"endTime":768.27,"body":"thing to take on that"},{"speaker":"Victor Lagos","startTime":768.48,"endTime":771.9,"body":"responsibility at a young age."},{"speaker":"Victor Lagos","startTime":768.48,"endTime":771.9,"body":"And then to get to where you are"},{"speaker":"Victor Lagos","startTime":771.9,"endTime":775.44,"body":"and to be able to give back. I"},{"speaker":"Victor Lagos","startTime":771.9,"endTime":775.44,"body":"think that's, you know, I"},{"speaker":"Victor Lagos","startTime":775.44,"endTime":776.4,"body":"commend you for that. So"},{"speaker":"Philip Khao","startTime":776.429,"endTime":778.289,"body":"yeah, it's made me"},{"speaker":"Philip Khao","startTime":776.429,"endTime":778.289,"body":"who I am. And look, you can't be"},{"speaker":"Philip Khao","startTime":778.319,"endTime":781.649,"body":"a tough childhood, I wouldn't"},{"speaker":"Philip Khao","startTime":778.319,"endTime":781.649,"body":"change a thing. Because if I, if"},{"speaker":"Philip Khao","startTime":781.649,"endTime":784.619,"body":"I did, then maybe I wouldn't be"},{"speaker":"Philip Khao","startTime":781.649,"endTime":784.619,"body":"sitting here right now. And one"},{"speaker":"Philip Khao","startTime":784.619,"endTime":786.179,"body":"of the things I'm doing right,"},{"speaker":"Philip Khao","startTime":784.619,"endTime":786.179,"body":"so yeah, look,"},{"speaker":"Victor Lagos","startTime":786.18,"endTime":788.79,"body":"everything happens"},{"speaker":"Victor Lagos","startTime":786.18,"endTime":788.79,"body":"for a reason. We learn from"},{"speaker":"Victor Lagos","startTime":788.79,"endTime":793.05,"body":"experiences we we grow from"},{"speaker":"Victor Lagos","startTime":788.79,"endTime":793.05,"body":"them. And then when we have our"},{"speaker":"Victor Lagos","startTime":793.05,"endTime":797.43,"body":"own children, we get to, you"},{"speaker":"Victor Lagos","startTime":793.05,"endTime":797.43,"body":"know, be the parents that we"},{"speaker":"Victor Lagos","startTime":797.76,"endTime":801.36,"body":"wanted, if that makes sense."},{"speaker":"Victor Lagos","startTime":797.76,"endTime":801.36,"body":"Yeah, yeah. And you do have a"},{"speaker":"Victor Lagos","startTime":801.36,"endTime":806.37,"body":"child. I don't yet my wife right"},{"speaker":"Victor Lagos","startTime":801.36,"endTime":806.37,"body":"on the journey. But look, I,"},{"speaker":"Victor Lagos","startTime":806.55,"endTime":809.64,"body":"from what I know of you, I'm"},{"speaker":"Victor Lagos","startTime":806.55,"endTime":809.64,"body":"sure you're an awesome father to"},{"speaker":"Victor Lagos","startTime":810.0,"endTime":813.87,"body":"try to. So I wanted to ask a"},{"speaker":"Victor Lagos","startTime":810.0,"endTime":813.87,"body":"little bit about your"},{"speaker":"Victor Lagos","startTime":813.87,"endTime":816.24,"body":"professional history, you"},{"speaker":"Victor Lagos","startTime":813.87,"endTime":816.24,"body":"touched on the fact that you"},{"speaker":"Victor Lagos","startTime":816.24,"endTime":819.48,"body":"focus more on business advisory,"},{"speaker":"Victor Lagos","startTime":816.24,"endTime":819.48,"body":"but can you tell us a little bit"},{"speaker":"Victor Lagos","startTime":819.48,"endTime":822.39,"body":"about your, your professional"},{"speaker":"Victor Lagos","startTime":819.48,"endTime":822.39,"body":"history? And what led you to be"},{"speaker":"Victor Lagos","startTime":822.39,"endTime":826.11,"body":"a partner at solve accounting"},{"speaker":"Victor Lagos","startTime":822.39,"endTime":826.11,"body":"and focus on being business"},{"speaker":"Victor Lagos","startTime":826.11,"endTime":829.47,"body":"advisory or virtual CFO for"},{"speaker":"Victor Lagos","startTime":826.11,"endTime":829.47,"body":"businesses? Yeah, so"},{"speaker":"Philip Khao","startTime":829.65,"endTime":833.43,"body":"I touched on why I"},{"speaker":"Philip Khao","startTime":829.65,"endTime":833.43,"body":"got in, or sorry, why I wanted"},{"speaker":"Philip Khao","startTime":833.43,"endTime":836.28,"body":"to get into business and mainly"},{"speaker":"Philip Khao","startTime":833.43,"endTime":836.28,"body":"that was motivation for my mom."},{"speaker":"Philip Khao","startTime":836.28,"endTime":841.32,"body":"So you know, with that, in my"},{"speaker":"Philip Khao","startTime":836.28,"endTime":841.32,"body":"mind, at the age of 17, we"},{"speaker":"Philip Khao","startTime":841.32,"endTime":844.65,"body":"finished high school. At the"},{"speaker":"Philip Khao","startTime":841.32,"endTime":844.65,"body":"time, there was a lot of"},{"speaker":"Philip Khao","startTime":844.71,"endTime":850.86,"body":"accounting fears, or accounting"},{"speaker":"Philip Khao","startTime":844.71,"endTime":850.86,"body":"conventions going on, and I was"},{"speaker":"Philip Khao","startTime":850.86,"endTime":853.5,"body":"like, I didn't know what I"},{"speaker":"Philip Khao","startTime":850.86,"endTime":853.5,"body":"wanted to do. But I thought"},{"speaker":"Philip Khao","startTime":853.5,"endTime":857.97,"body":"accounting was I mean, it's"},{"speaker":"Philip Khao","startTime":853.5,"endTime":857.97,"body":"typical Asian, you know, become"},{"speaker":"Philip Khao","startTime":857.97,"endTime":860.82,"body":"an accountant become a lawyer,"},{"speaker":"Philip Khao","startTime":857.97,"endTime":860.82,"body":"but I thought, Look, it's"},{"speaker":"Philip Khao","startTime":860.82,"endTime":863.67,"body":"something that I don't mind"},{"speaker":"Philip Khao","startTime":860.82,"endTime":863.67,"body":"doing. I know a little bit about"},{"speaker":"Philip Khao","startTime":863.67,"endTime":866.37,"body":"it. So I went to all these"},{"speaker":"Philip Khao","startTime":863.67,"endTime":866.37,"body":"accounting fairs then and"},{"speaker":"Philip Khao","startTime":866.37,"endTime":870.9,"body":"decided to apply for accounting"},{"speaker":"Philip Khao","startTime":866.37,"endTime":870.9,"body":"Cadet ships. You know, the big"},{"speaker":"Philip Khao","startTime":870.9,"endTime":876.03,"body":"four the Metis was unsuccessful,"},{"speaker":"Philip Khao","startTime":870.9,"endTime":876.03,"body":"you know, failed. I was like,"},{"speaker":"Philip Khao","startTime":876.33,"endTime":880.38,"body":"Oh, well, I'll try something"},{"speaker":"Philip Khao","startTime":876.33,"endTime":880.38,"body":"else. So then I ended up getting"},{"speaker":"Philip Khao","startTime":880.41,"endTime":885.63,"body":"a job at Toys R Us. So this was"},{"speaker":"Philip Khao","startTime":880.41,"endTime":885.63,"body":"at Toys R Us paramount. I worked"},{"speaker":"Philip Khao","startTime":885.63,"endTime":889.29,"body":"there and thought this is not"},{"speaker":"Philip Khao","startTime":885.63,"endTime":889.29,"body":"too bad. You know, making a bit"},{"speaker":"Philip Khao","startTime":889.29,"endTime":892.8,"body":"of money first job. And then a"},{"speaker":"Philip Khao","startTime":889.29,"endTime":892.8,"body":"few months later before"},{"speaker":"Philip Khao","startTime":892.83,"endTime":895.95,"body":"University was going to start so"},{"speaker":"Philip Khao","startTime":892.83,"endTime":895.95,"body":"I ended up getting into Bachelor"},{"speaker":"Philip Khao","startTime":895.95,"endTime":901.44,"body":"of Business in in UTS. I got a"},{"speaker":"Philip Khao","startTime":895.95,"endTime":901.44,"body":"call For a friend named Kathy,"},{"speaker":"Philip Khao","startTime":902.28,"endTime":905.79,"body":"and she, she got a cadetship."},{"speaker":"Philip Khao","startTime":902.28,"endTime":905.79,"body":"She called me and she said,"},{"speaker":"Philip Khao","startTime":906.39,"endTime":910.35,"body":"Phil, we've got an opening, you"},{"speaker":"Philip Khao","startTime":906.39,"endTime":910.35,"body":"should apply, you might get in."},{"speaker":"Philip Khao","startTime":910.8,"endTime":915.81,"body":"And so that opportunity came, I"},{"speaker":"Philip Khao","startTime":910.8,"endTime":915.81,"body":"applied. The next week, I got"},{"speaker":"Philip Khao","startTime":915.81,"endTime":920.31,"body":"the job, my first job. So I was"},{"speaker":"Philip Khao","startTime":915.81,"endTime":920.31,"body":"working full time as an"},{"speaker":"Philip Khao","startTime":920.31,"endTime":923.88,"body":"accountant or junior accountant,"},{"speaker":"Philip Khao","startTime":920.31,"endTime":923.88,"body":"doing a lot of photocopying, and"},{"speaker":"Philip Khao","startTime":923.94,"endTime":928.65,"body":"mailing and admin work, right."},{"speaker":"Philip Khao","startTime":923.94,"endTime":928.65,"body":"But that then, was the stepping"},{"speaker":"Philip Khao","startTime":928.65,"endTime":933.0,"body":"stone to my professional career."},{"speaker":"Philip Khao","startTime":928.65,"endTime":933.0,"body":"So I was working in public"},{"speaker":"Philip Khao","startTime":933.03,"endTime":936.81,"body":"practice for the next eight"},{"speaker":"Philip Khao","startTime":933.03,"endTime":936.81,"body":"years, and now you work like"},{"speaker":"Philip Khao","startTime":936.87,"endTime":941.61,"body":"they're working like a dog, you"},{"speaker":"Philip Khao","startTime":936.87,"endTime":941.61,"body":"get underpaid. But I think even"},{"speaker":"Philip Khao","startTime":941.61,"endTime":946.65,"body":"so, you learn so much. And"},{"speaker":"Philip Khao","startTime":941.61,"endTime":946.65,"body":"without that experience, I don't"},{"speaker":"Philip Khao","startTime":946.65,"endTime":949.65,"body":"think I'd be the business"},{"speaker":"Philip Khao","startTime":946.65,"endTime":949.65,"body":"advisor I am now."},{"speaker":"Victor Lagos","startTime":950.28,"endTime":952.14,"body":"So you got a lot"},{"speaker":"Victor Lagos","startTime":950.28,"endTime":952.14,"body":"of exposure to a lot of"},{"speaker":"Victor Lagos","startTime":952.53,"endTime":954.42,"body":"different businesses and large"},{"speaker":"Victor Lagos","startTime":952.53,"endTime":954.42,"body":"businesses"},{"speaker":"Philip Khao","startTime":954.42,"endTime":957.9,"body":"100% 100%, I think"},{"speaker":"Philip Khao","startTime":954.42,"endTime":957.9,"body":"my time at BDO was probably the"},{"speaker":"Philip Khao","startTime":957.9,"endTime":961.98,"body":"best time in terms of work and"},{"speaker":"Philip Khao","startTime":957.9,"endTime":961.98,"body":"professional. There was a lot"},{"speaker":"Philip Khao","startTime":961.98,"endTime":964.41,"body":"of, we had a lot of"},{"speaker":"Philip Khao","startTime":961.98,"endTime":964.41,"body":"international clients that would"},{"speaker":"Philip Khao","startTime":964.41,"endTime":969.69,"body":"come and look to invest into"},{"speaker":"Philip Khao","startTime":964.41,"endTime":969.69,"body":"Australia. And we will then act"},{"speaker":"Philip Khao","startTime":969.69,"endTime":973.47,"body":"as their outsourced finance"},{"speaker":"Philip Khao","startTime":969.69,"endTime":973.47,"body":"function. So set them up and"},{"speaker":"Philip Khao","startTime":973.47,"endTime":976.77,"body":"then be their finance team on"},{"speaker":"Philip Khao","startTime":973.47,"endTime":976.77,"body":"ground until they will big"},{"speaker":"Philip Khao","startTime":976.77,"endTime":981.03,"body":"enough to, I guess hire"},{"speaker":"Philip Khao","startTime":976.77,"endTime":981.03,"body":"internally. And so that's where"},{"speaker":"Philip Khao","startTime":981.03,"endTime":986.19,"body":"my business advisor experience"},{"speaker":"Philip Khao","startTime":981.03,"endTime":986.19,"body":"had come from mainly. And then"},{"speaker":"Philip Khao","startTime":988.38,"endTime":991.86,"body":"after the eight years, my wife"},{"speaker":"Philip Khao","startTime":988.38,"endTime":991.86,"body":"said to me or not my girlfriend"},{"speaker":"Philip Khao","startTime":991.86,"endTime":994.44,"body":"at the time, she's she said, You"},{"speaker":"Philip Khao","startTime":991.86,"endTime":994.44,"body":"know, I wanted to move to"},{"speaker":"Philip Khao","startTime":994.44,"endTime":999.75,"body":"London. I was like, Shit, I'm"},{"speaker":"Philip Khao","startTime":994.44,"endTime":999.75,"body":"pretty comfortable here, you"},{"speaker":"Philip Khao","startTime":999.75,"endTime":1002.51,"body":"know, hanging out with the boys"},{"speaker":"Philip Khao","startTime":999.75,"endTime":1002.51,"body":"and doing work focusing on my"},{"speaker":"Philip Khao","startTime":1002.51,"endTime":1008.12,"body":"career. But eventually, after a"},{"speaker":"Philip Khao","startTime":1002.51,"endTime":1008.12,"body":"bit of talking, you know, back"},{"speaker":"Philip Khao","startTime":1008.12,"endTime":1012.44,"body":"and forth, I decided to move."},{"speaker":"Philip Khao","startTime":1008.12,"endTime":1012.44,"body":"But before I decided to move, so"},{"speaker":"Philip Khao","startTime":1012.44,"endTime":1016.25,"body":"I was 25. At that time, I"},{"speaker":"Philip Khao","startTime":1012.44,"endTime":1016.25,"body":"thought to myself, look, if I"},{"speaker":"Philip Khao","startTime":1016.28,"endTime":1018.92,"body":"move, I want to come back and"},{"speaker":"Philip Khao","startTime":1016.28,"endTime":1018.92,"body":"open my own business and do"},{"speaker":"Philip Khao","startTime":1018.92,"endTime":1025.22,"body":"something, what should I do? So"},{"speaker":"Philip Khao","startTime":1018.92,"endTime":1025.22,"body":"I was thinking about and then"},{"speaker":"Philip Khao","startTime":1025.22,"endTime":1028.1,"body":"when you think about these"},{"speaker":"Philip Khao","startTime":1025.22,"endTime":1028.1,"body":"things, there's just so many"},{"speaker":"Philip Khao","startTime":1028.1,"endTime":1030.32,"body":"ideas, but then there's so many"},{"speaker":"Philip Khao","startTime":1028.1,"endTime":1030.32,"body":"excuses that you make for"},{"speaker":"Philip Khao","startTime":1030.32,"endTime":1032.75,"body":"yourself, like you might work,"},{"speaker":"Philip Khao","startTime":1030.32,"endTime":1032.75,"body":"it's too hard. And then I"},{"speaker":"Philip Khao","startTime":1032.75,"endTime":1035.45,"body":"thought, You know what, why"},{"speaker":"Philip Khao","startTime":1032.75,"endTime":1035.45,"body":"don't I just I've been working"},{"speaker":"Philip Khao","startTime":1035.45,"endTime":1037.52,"body":"in accounting for eight years,"},{"speaker":"Philip Khao","startTime":1035.45,"endTime":1037.52,"body":"why don't I start my own"},{"speaker":"Philip Khao","startTime":1037.55,"endTime":1042.05,"body":"accounting firm. I mentioned"},{"speaker":"Philip Khao","startTime":1037.55,"endTime":1042.05,"body":"this to my mentor at the time."},{"speaker":"Philip Khao","startTime":1042.59,"endTime":1047.12,"body":"And still now Chris, my business"},{"speaker":"Philip Khao","startTime":1042.59,"endTime":1047.12,"body":"partner. And he said, Dude, just"},{"speaker":"Philip Khao","startTime":1047.12,"endTime":1050.27,"body":"join me. Just join solve. And"},{"speaker":"Philip Khao","startTime":1047.12,"endTime":1050.27,"body":"I've already created, the brand"},{"speaker":"Philip Khao","startTime":1050.33,"endTime":1053.81,"body":"systems are in place, all you"},{"speaker":"Philip Khao","startTime":1050.33,"endTime":1053.81,"body":"need to do is get a laptop, and"},{"speaker":"Philip Khao","startTime":1053.81,"endTime":1057.74,"body":"I'll send you some work. So I"},{"speaker":"Philip Khao","startTime":1053.81,"endTime":1057.74,"body":"moved to London worked a full"},{"speaker":"Philip Khao","startTime":1057.74,"endTime":1060.47,"body":"time job as a financial"},{"speaker":"Philip Khao","startTime":1057.74,"endTime":1060.47,"body":"controller for various"},{"speaker":"Philip Khao","startTime":1060.47,"endTime":1063.95,"body":"companies. enjoyed my time there"},{"speaker":"Philip Khao","startTime":1060.47,"endTime":1063.95,"body":"getting the commercial"},{"speaker":"Philip Khao","startTime":1063.95,"endTime":1068.21,"body":"experience at nighttime. So a"},{"speaker":"Philip Khao","startTime":1063.95,"endTime":1068.21,"body":"couple of hours I work on solve."},{"speaker":"Philip Khao","startTime":1068.33,"endTime":1072.65,"body":"Chris was feeding me a lot of"},{"speaker":"Philip Khao","startTime":1068.33,"endTime":1072.65,"body":"jobs over the time. I got to a"},{"speaker":"Philip Khao","startTime":1072.65,"endTime":1078.11,"body":"point where I blame him for"},{"speaker":"Philip Khao","startTime":1072.65,"endTime":1078.11,"body":"making me wear glasses because I"},{"speaker":"Philip Khao","startTime":1078.11,"endTime":1080.84,"body":"was always in front of the"},{"speaker":"Philip Khao","startTime":1078.11,"endTime":1080.84,"body":"computer in the daytime, at"},{"speaker":"Philip Khao","startTime":1080.84,"endTime":1085.67,"body":"night. And so I got glasses"},{"speaker":"Philip Khao","startTime":1080.84,"endTime":1085.67,"body":"aware that went away, it went to"},{"speaker":"Philip Khao","startTime":1085.67,"endTime":1091.91,"body":"work. And then 2019 I came back"},{"speaker":"Philip Khao","startTime":1085.67,"endTime":1091.91,"body":"to Australia and I had I was at"},{"speaker":"Philip Khao","startTime":1091.91,"endTime":1095.09,"body":"a crossroads. And a lot of"},{"speaker":"Philip Khao","startTime":1091.91,"endTime":1095.09,"body":"people might be experiencing"},{"speaker":"Philip Khao","startTime":1095.09,"endTime":1102.65,"body":"this. But do I go out? And do I"},{"speaker":"Philip Khao","startTime":1095.09,"endTime":1102.65,"body":"go out and find a full time job"},{"speaker":"Philip Khao","startTime":1102.89,"endTime":1107.45,"body":"back in the city where it will"},{"speaker":"Philip Khao","startTime":1102.89,"endTime":1107.45,"body":"take me an hour to get there an"},{"speaker":"Philip Khao","startTime":1107.45,"endTime":1112.34,"body":"hour back over a week that's 10"},{"speaker":"Philip Khao","startTime":1107.45,"endTime":1112.34,"body":"hours of travel, make my 150"},{"speaker":"Philip Khao","startTime":1112.34,"endTime":1116.87,"body":"grand whatever it is, or do I"},{"speaker":"Philip Khao","startTime":1112.34,"endTime":1116.87,"body":"back myself and go full time"},{"speaker":"Philip Khao","startTime":1116.87,"endTime":1119.87,"body":"we've solved I was earning 40"},{"speaker":"Philip Khao","startTime":1116.87,"endTime":1119.87,"body":"grand at that time, probably"},{"speaker":"Philip Khao","startTime":1119.87,"endTime":1125.21,"body":"less than that a year. I thought"},{"speaker":"Philip Khao","startTime":1119.87,"endTime":1125.21,"body":"about the train ride. And I was"},{"speaker":"Philip Khao","startTime":1125.21,"endTime":1132.11,"body":"like nah, stuff that. And so I"},{"speaker":"Philip Khao","startTime":1125.21,"endTime":1132.11,"body":"backed myself. And that first"},{"speaker":"Philip Khao","startTime":1132.11,"endTime":1138.68,"body":"year was very hard. You just"},{"speaker":"Philip Khao","startTime":1132.11,"endTime":1138.68,"body":"constantly back against the wall"},{"speaker":"Philip Khao","startTime":1138.68,"endTime":1145.31,"body":"thinking about where is the"},{"speaker":"Philip Khao","startTime":1138.68,"endTime":1145.31,"body":"money gonna come from? It was"},{"speaker":"Philip Khao","startTime":1145.31,"endTime":1148.91,"body":"scary. I was looking to also buy"},{"speaker":"Philip Khao","startTime":1145.31,"endTime":1148.91,"body":"a property at the time. So I was"},{"speaker":"Philip Khao","startTime":1148.91,"endTime":1152.72,"body":"like, how am I going to do this."},{"speaker":"Philip Khao","startTime":1148.91,"endTime":1152.72,"body":"But look, in the end, I was able"},{"speaker":"Philip Khao","startTime":1152.72,"endTime":1158.87,"body":"to succeed, focus. I did a lot"},{"speaker":"Philip Khao","startTime":1152.72,"endTime":1158.87,"body":"of things. I would apply for"},{"speaker":"Philip Khao","startTime":1159.71,"endTime":1164.96,"body":"jobs, full time jobs, but come"},{"speaker":"Philip Khao","startTime":1159.71,"endTime":1164.96,"body":"in with an angle of, hey, why"},{"speaker":"Philip Khao","startTime":1164.96,"endTime":1167.42,"body":"don't you hire me as a"},{"speaker":"Philip Khao","startTime":1164.96,"endTime":1167.42,"body":"contractor or an outsourced"},{"speaker":"Philip Khao","startTime":1167.42,"endTime":1171.89,"body":"accounting firm to do your"},{"speaker":"Philip Khao","startTime":1167.42,"endTime":1171.89,"body":"finance manager role. I did a"},{"speaker":"Philip Khao","startTime":1171.89,"endTime":1174.92,"body":"lot of that. And I eventually"},{"speaker":"Philip Khao","startTime":1171.89,"endTime":1174.92,"body":"land the client, which was about"},{"speaker":"Philip Khao","startTime":1174.92,"endTime":1179.21,"body":"50 grand II. And that was a big"},{"speaker":"Philip Khao","startTime":1174.92,"endTime":1179.21,"body":"client for me at the time. And"},{"speaker":"Philip Khao","startTime":1179.21,"endTime":1184.7,"body":"so just the perseverance that"},{"speaker":"Philip Khao","startTime":1179.21,"endTime":1184.7,"body":"I've found. Being in the first"},{"speaker":"Philip Khao","startTime":1184.7,"endTime":1188.21,"body":"year on your own, trying to find"},{"speaker":"Philip Khao","startTime":1184.7,"endTime":1188.21,"body":"work, being hungry being"},{"speaker":"Philip Khao","startTime":1188.21,"endTime":1191.96,"body":"motivated, led me to that. I"},{"speaker":"Philip Khao","startTime":1188.21,"endTime":1191.96,"body":"tried a lot of different things."},{"speaker":"Philip Khao","startTime":1191.96,"endTime":1194.93,"body":"I tried BNI at that time as"},{"speaker":"Philip Khao","startTime":1191.96,"endTime":1194.93,"body":"well. I wasn't good at it. But"},{"speaker":"Philip Khao","startTime":1194.93,"endTime":1200.0,"body":"that job board application or"},{"speaker":"Philip Khao","startTime":1194.93,"endTime":1200.0,"body":"the job board angle was really"},{"speaker":"Philip Khao","startTime":1200.0,"endTime":1200.69,"body":"Successful"},{"speaker":"Victor Lagos","startTime":1201.02,"endTime":1203.39,"body":"actually like that"},{"speaker":"Victor Lagos","startTime":1201.02,"endTime":1203.39,"body":"you looked at a different angle"},{"speaker":"Victor Lagos","startTime":1203.39,"endTime":1206.09,"body":"you applied for jobs that were,"},{"speaker":"Victor Lagos","startTime":1203.39,"endTime":1206.09,"body":"you know, advertised for"},{"speaker":"Victor Lagos","startTime":1206.09,"endTime":1209.39,"body":"employees. But you actually went"},{"speaker":"Victor Lagos","startTime":1206.09,"endTime":1209.39,"body":"in there with a proposal and"},{"speaker":"Victor Lagos","startTime":1209.39,"endTime":1213.05,"body":"said, rather than hire me as an"},{"speaker":"Victor Lagos","startTime":1209.39,"endTime":1213.05,"body":"employee, I still stay self"},{"speaker":"Victor Lagos","startTime":1213.05,"endTime":1216.26,"body":"employed, you don't have the"},{"speaker":"Victor Lagos","startTime":1213.05,"endTime":1216.26,"body":"obligation of payroll tax,"},{"speaker":"Victor Lagos","startTime":1216.38,"endTime":1219.53,"body":"superannuation and all these"},{"speaker":"Victor Lagos","startTime":1216.38,"endTime":1219.53,"body":"changes, and then you created an"},{"speaker":"Victor Lagos","startTime":1219.53,"endTime":1222.38,"body":"opportunity for you so. So I"},{"speaker":"Victor Lagos","startTime":1219.53,"endTime":1222.38,"body":"think that's a really powerful"},{"speaker":"Victor Lagos","startTime":1222.38,"endTime":1225.68,"body":"thing for people out there that"},{"speaker":"Victor Lagos","startTime":1222.38,"endTime":1225.68,"body":"that are hungry, and they do"},{"speaker":"Victor Lagos","startTime":1225.8,"endTime":1228.89,"body":"want to go out on their own,"},{"speaker":"Victor Lagos","startTime":1225.8,"endTime":1228.89,"body":"there is a way to still have"},{"speaker":"Victor Lagos","startTime":1228.89,"endTime":1232.49,"body":"that security of the recurring"},{"speaker":"Victor Lagos","startTime":1228.89,"endTime":1232.49,"body":"income, like you're employed,"},{"speaker":"Victor Lagos","startTime":1232.73,"endTime":1235.49,"body":"but still have a bit of your"},{"speaker":"Victor Lagos","startTime":1232.73,"endTime":1235.49,"body":"freedom because you can have"},{"speaker":"Victor Lagos","startTime":1235.49,"endTime":1238.64,"body":"multiple employees, right? Does"},{"speaker":"Victor Lagos","startTime":1235.49,"endTime":1238.64,"body":"that? That's exactly right. It's"},{"speaker":"Victor Lagos","startTime":1238.64,"endTime":1242.42,"body":"just about balance of time,"},{"speaker":"Victor Lagos","startTime":1238.64,"endTime":1242.42,"body":"right? Because when you contract"},{"speaker":"Victor Lagos","startTime":1242.42,"endTime":1245.48,"body":"out to them, it's not"},{"speaker":"Victor Lagos","startTime":1242.42,"endTime":1245.48,"body":"contracting out for 40 hours a"},{"speaker":"Victor Lagos","startTime":1245.48,"endTime":1249.89,"body":"week, it's contracting out for"},{"speaker":"Victor Lagos","startTime":1245.48,"endTime":1249.89,"body":"work. Right, right. So as long"},{"speaker":"Victor Lagos","startTime":1249.89,"endTime":1252.71,"body":"as you complete the work, they"},{"speaker":"Victor Lagos","startTime":1249.89,"endTime":1252.71,"body":"don't care about the hours that"},{"speaker":"Victor Lagos","startTime":1252.71,"endTime":1253.16,"body":"you get, it's"},{"speaker":"Philip Khao","startTime":1253.16,"endTime":1254.9,"body":"a bonus to the"},{"speaker":"Philip Khao","startTime":1253.16,"endTime":1254.9,"body":"employees there a soldiers"},{"speaker":"Philip Khao","startTime":1254.9,"endTime":1258.95,"body":"because they wouldn't have to"},{"speaker":"Philip Khao","startTime":1254.9,"endTime":1258.95,"body":"pay for full time staff. And you"},{"speaker":"Philip Khao","startTime":1258.95,"endTime":1262.91,"body":"know, I'd come to them and say,"},{"speaker":"Philip Khao","startTime":1258.95,"endTime":1262.91,"body":"do you really need you know,"},{"speaker":"Philip Khao","startTime":1262.91,"endTime":1266.6,"body":"someone full time This job can"},{"speaker":"Philip Khao","startTime":1262.91,"endTime":1266.6,"body":"be done in three days, per week."},{"speaker":"Philip Khao","startTime":1267.35,"endTime":1270.38,"body":"So I did have about five"},{"speaker":"Philip Khao","startTime":1267.35,"endTime":1270.38,"body":"interviews or so and was able to"},{"speaker":"Philip Khao","startTime":1270.41,"endTime":1273.47,"body":"get one and that kind of set me"},{"speaker":"Philip Khao","startTime":1270.41,"endTime":1273.47,"body":"up for the rest. And then I was"},{"speaker":"Philip Khao","startTime":1273.47,"endTime":1277.43,"body":"like, Okay, well, I like doing"},{"speaker":"Philip Khao","startTime":1273.47,"endTime":1277.43,"body":"this type of stuff. I like"},{"speaker":"Philip Khao","startTime":1277.43,"endTime":1279.98,"body":"working with businesses, I was"},{"speaker":"Philip Khao","startTime":1277.43,"endTime":1279.98,"body":"doing taxes as well. But I"},{"speaker":"Philip Khao","startTime":1279.98,"endTime":1283.52,"body":"thought, Look, I don't really"},{"speaker":"Philip Khao","startTime":1279.98,"endTime":1283.52,"body":"like tax too much. I enjoy more"},{"speaker":"Philip Khao","startTime":1283.55,"endTime":1286.73,"body":"working with clients and"},{"speaker":"Philip Khao","startTime":1283.55,"endTime":1286.73,"body":"creating value, or adding value"},{"speaker":"Philip Khao","startTime":1286.76,"endTime":1291.08,"body":"forward looking. So that's kind"},{"speaker":"Philip Khao","startTime":1286.76,"endTime":1291.08,"body":"of what motivated me to focus on"},{"speaker":"Philip Khao","startTime":1291.17,"endTime":1293.18,"body":"business advisory over the last"},{"speaker":"Philip Khao","startTime":1291.17,"endTime":1293.18,"body":"few years."},{"speaker":"Victor Lagos","startTime":1293.24,"endTime":1296.09,"body":"Okay, yeah, that"},{"speaker":"Victor Lagos","startTime":1293.24,"endTime":1296.09,"body":"makes sense. And you did mention"},{"speaker":"Victor Lagos","startTime":1296.09,"endTime":1299.0,"body":"about wanting to buy a property."},{"speaker":"Victor Lagos","startTime":1296.09,"endTime":1299.0,"body":"So a lot of my listeners, they"},{"speaker":"Victor Lagos","startTime":1299.0,"endTime":1302.45,"body":"are property investors are on"},{"speaker":"Victor Lagos","startTime":1299.0,"endTime":1302.45,"body":"the journey to to grow their"},{"speaker":"Victor Lagos","startTime":1302.45,"endTime":1307.16,"body":"portfolio. Do you own investment"},{"speaker":"Victor Lagos","startTime":1302.45,"endTime":1307.16,"body":"properties? And did anyone help"},{"speaker":"Victor Lagos","startTime":1307.16,"endTime":1308.45,"body":"you? Or did you do it all"},{"speaker":"Victor Lagos","startTime":1307.16,"endTime":1308.45,"body":"yourself?"},{"speaker":"Philip Khao","startTime":1310.55,"endTime":1314.36,"body":"Yeah, good"},{"speaker":"Philip Khao","startTime":1310.55,"endTime":1314.36,"body":"question. I think, for me, I"},{"speaker":"Philip Khao","startTime":1314.36,"endTime":1319.76,"body":"purchased my first property in"},{"speaker":"Philip Khao","startTime":1314.36,"endTime":1319.76,"body":"2011. I was 21 at the time, and"},{"speaker":"Philip Khao","startTime":1319.76,"endTime":1322.61,"body":"then you know, when we're 21,"},{"speaker":"Philip Khao","startTime":1319.76,"endTime":1322.61,"body":"we're going back to back"},{"speaker":"Philip Khao","startTime":1322.61,"endTime":1324.92,"body":"clubbing nights, Friday,"},{"speaker":"Philip Khao","startTime":1322.61,"endTime":1324.92,"body":"Saturday nights getting wasted"},{"speaker":"Philip Khao","startTime":1324.92,"endTime":1329.66,"body":"having fun, right? But my mum"},{"speaker":"Philip Khao","startTime":1324.92,"endTime":1329.66,"body":"actually pushed me. So thank God"},{"speaker":"Philip Khao","startTime":1329.66,"endTime":1333.86,"body":"for my mum. She said, Well, at"},{"speaker":"Philip Khao","startTime":1329.66,"endTime":1333.86,"body":"the time there was free stamp"},{"speaker":"Philip Khao","startTime":1333.86,"endTime":1337.64,"body":"duty on property purchases, and"},{"speaker":"Philip Khao","startTime":1333.86,"endTime":1337.64,"body":"she said, You need to take"},{"speaker":"Philip Khao","startTime":1337.64,"endTime":1340.67,"body":"advantage of this. You're"},{"speaker":"Philip Khao","startTime":1337.64,"endTime":1340.67,"body":"working full time, go get a"},{"speaker":"Philip Khao","startTime":1340.67,"endTime":1343.82,"body":"property. So she helped me"},{"speaker":"Philip Khao","startTime":1340.67,"endTime":1343.82,"body":"purchase my first property was"},{"speaker":"Philip Khao","startTime":1343.82,"endTime":1345.11,"body":"in Fairfield. Was it a"},{"speaker":"Victor Lagos","startTime":1345.11,"endTime":1347.09,"body":"guarantor loan? Or"},{"speaker":"Victor Lagos","startTime":1345.11,"endTime":1347.09,"body":"did she come up with a deposit"},{"speaker":"Victor Lagos","startTime":1347.09,"endTime":1349.79,"body":"or you had a deposit she she"},{"speaker":"Victor Lagos","startTime":1347.09,"endTime":1349.79,"body":"acted"},{"speaker":"Philip Khao","startTime":1349.79,"endTime":1355.1,"body":"as a guarantor. But"},{"speaker":"Philip Khao","startTime":1349.79,"endTime":1355.1,"body":"I suggest to secure the"},{"speaker":"Philip Khao","startTime":1355.16,"endTime":1359.84,"body":"mortgage, and I made repayments"},{"speaker":"Philip Khao","startTime":1355.16,"endTime":1359.84,"body":"moving forward. So that was in"},{"speaker":"Philip Khao","startTime":1359.84,"endTime":1363.8,"body":"2011. And it's look, it's very"},{"speaker":"Philip Khao","startTime":1359.84,"endTime":1363.8,"body":"important for people if they're"},{"speaker":"Philip Khao","startTime":1363.8,"endTime":1366.92,"body":"able to get into property,"},{"speaker":"Philip Khao","startTime":1363.8,"endTime":1366.92,"body":"because it's a stepping stone to"},{"speaker":"Philip Khao","startTime":1367.34,"endTime":1373.22,"body":"wealth. That was in 2011, a few"},{"speaker":"Philip Khao","startTime":1367.34,"endTime":1373.22,"body":"years later, I decided this,"},{"speaker":"Philip Khao","startTime":1373.55,"endTime":1375.77,"body":"there was no equity in the"},{"speaker":"Philip Khao","startTime":1373.55,"endTime":1375.77,"body":"property. And I decided, You"},{"speaker":"Philip Khao","startTime":1375.77,"endTime":1378.83,"body":"know what, I'm gonna put some"},{"speaker":"Philip Khao","startTime":1375.77,"endTime":1378.83,"body":"equity out and build a granny"},{"speaker":"Philip Khao","startTime":1378.83,"endTime":1383.48,"body":"flat at the back. Did that and"},{"speaker":"Philip Khao","startTime":1378.83,"endTime":1383.48,"body":"then the property started paying"},{"speaker":"Philip Khao","startTime":1383.48,"endTime":1387.32,"body":"itself off, was so positively"},{"speaker":"Philip Khao","startTime":1383.48,"endTime":1387.32,"body":"geared, didn't have to worry"},{"speaker":"Philip Khao","startTime":1387.32,"endTime":1390.59,"body":"about it 25 of the time, before"},{"speaker":"Philip Khao","startTime":1387.32,"endTime":1390.59,"body":"I left to London, so that was"},{"speaker":"Philip Khao","startTime":1390.92,"endTime":1394.28,"body":"amazing for me not having to"},{"speaker":"Philip Khao","startTime":1390.92,"endTime":1394.28,"body":"think about the repayments, or"},{"speaker":"Philip Khao","startTime":1394.28,"endTime":1400.25,"body":"transferring money over. And so"},{"speaker":"Philip Khao","startTime":1394.28,"endTime":1400.25,"body":"that was amazing. The next or"},{"speaker":"Philip Khao","startTime":1400.25,"endTime":1402.86,"body":"four years after that, I made"},{"speaker":"Philip Khao","startTime":1400.25,"endTime":1402.86,"body":"another purchase in Central"},{"speaker":"Philip Khao","startTime":1402.86,"endTime":1406.97,"body":"Coast. This time it was an"},{"speaker":"Philip Khao","startTime":1402.86,"endTime":1406.97,"body":"apartment, there wasn't a lot of"},{"speaker":"Philip Khao","startTime":1406.97,"endTime":1410.42,"body":"capital growth compared to the"},{"speaker":"Philip Khao","startTime":1406.97,"endTime":1410.42,"body":"land I purchased in Fairfield."},{"speaker":"Philip Khao","startTime":1411.23,"endTime":1415.37,"body":"So for me for going through that"},{"speaker":"Philip Khao","startTime":1411.23,"endTime":1415.37,"body":"personal experience, I now tell"},{"speaker":"Philip Khao","startTime":1415.37,"endTime":1418.49,"body":"friends and family and sometimes"},{"speaker":"Philip Khao","startTime":1415.37,"endTime":1418.49,"body":"clients when they ask, you need"},{"speaker":"Philip Khao","startTime":1418.49,"endTime":1421.82,"body":"to buy that. Like, that's where"},{"speaker":"Philip Khao","startTime":1418.49,"endTime":1421.82,"body":"you're gonna get the capital"},{"speaker":"Philip Khao","startTime":1421.85,"endTime":1426.26,"body":"growth. There may be some"},{"speaker":"Philip Khao","startTime":1421.85,"endTime":1426.26,"body":"anomalies where apartments may"},{"speaker":"Philip Khao","startTime":1426.26,"endTime":1430.34,"body":"go up a bit more, but majority"},{"speaker":"Philip Khao","startTime":1426.26,"endTime":1430.34,"body":"of the time, it's going to be"},{"speaker":"Philip Khao","startTime":1430.34,"endTime":1433.94,"body":"land. Why do you think that is?"},{"speaker":"Philip Khao","startTime":1430.34,"endTime":1433.94,"body":"I think it's just the demand."},{"speaker":"Philip Khao","startTime":1434.93,"endTime":1437.78,"body":"Everyone wants, he probably"},{"speaker":"Philip Khao","startTime":1434.93,"endTime":1437.78,"body":"would have seen this with COVID"},{"speaker":"Philip Khao","startTime":1437.78,"endTime":1440.72,"body":"as well, right? Everyone was"},{"speaker":"Philip Khao","startTime":1437.78,"endTime":1440.72,"body":"kind of locked in their houses"},{"speaker":"Philip Khao","startTime":1440.75,"endTime":1443.9,"body":"in their homes, and those that"},{"speaker":"Philip Khao","startTime":1440.75,"endTime":1443.9,"body":"were locked in their apartments,"},{"speaker":"Philip Khao","startTime":1444.41,"endTime":1447.17,"body":"couldn't go out to your"},{"speaker":"Philip Khao","startTime":1444.41,"endTime":1447.17,"body":"backyard. You couldn't get fresh"},{"speaker":"Philip Khao","startTime":1447.17,"endTime":1449.72,"body":"air, you couldn't go to the"},{"speaker":"Philip Khao","startTime":1447.17,"endTime":1449.72,"body":"front yard, couldn't go for some"},{"speaker":"Philip Khao","startTime":1449.72,"endTime":1457.4,"body":"walks. And so that probably, I"},{"speaker":"Philip Khao","startTime":1449.72,"endTime":1457.4,"body":"guess, was the big reason as to"},{"speaker":"Philip Khao","startTime":1457.4,"endTime":1461.39,"body":"why the property market surged"},{"speaker":"Philip Khao","startTime":1457.4,"endTime":1461.39,"body":"just ordering COVID and post"},{"speaker":"Philip Khao","startTime":1461.39,"endTime":1463.73,"body":"COVID Because a lot of people"},{"speaker":"Philip Khao","startTime":1461.39,"endTime":1463.73,"body":"were locked in their homes and I"},{"speaker":"Philip Khao","startTime":1463.73,"endTime":1470.63,"body":"thought I need the perfect home"},{"speaker":"Philip Khao","startTime":1463.73,"endTime":1470.63,"body":"or jail home at time to be able"},{"speaker":"Philip Khao","startTime":1470.63,"endTime":1474.86,"body":"to kind of live freely and not"},{"speaker":"Philip Khao","startTime":1470.63,"endTime":1474.86,"body":"be confined in an apartment. So"},{"speaker":"Philip Khao","startTime":1475.94,"endTime":1477.14,"body":"that's probably the reason"},{"speaker":"Victor Lagos","startTime":1477.89,"endTime":1480.5,"body":"it would make"},{"speaker":"Victor Lagos","startTime":1477.89,"endTime":1480.5,"body":"sense the other way. My"},{"speaker":"Victor Lagos","startTime":1480.5,"endTime":1484.04,"body":"understanding is that if you"},{"speaker":"Victor Lagos","startTime":1480.5,"endTime":1484.04,"body":"think about supply and demand,"},{"speaker":"Victor Lagos","startTime":1484.73,"endTime":1488.21,"body":"the more obviously the more"},{"speaker":"Victor Lagos","startTime":1484.73,"endTime":1488.21,"body":"supply there is. Its prices are"},{"speaker":"Victor Lagos","startTime":1488.21,"endTime":1491.42,"body":"going to drop will be fairly"},{"speaker":"Victor Lagos","startTime":1488.21,"endTime":1491.42,"body":"stable, right? But if there's"},{"speaker":"Victor Lagos","startTime":1491.48,"endTime":1495.77,"body":"less supply it, it's scarce. And"},{"speaker":"Victor Lagos","startTime":1491.48,"endTime":1495.77,"body":"but if there's a lot of demand"},{"speaker":"Victor Lagos","startTime":1495.77,"endTime":1499.82,"body":"that will push prices up, land"},{"speaker":"Victor Lagos","startTime":1495.77,"endTime":1499.82,"body":"is scarce. You can't just keep"},{"speaker":"Victor Lagos","startTime":1499.82,"endTime":1502.64,"body":"making Keep more land, right?"},{"speaker":"Victor Lagos","startTime":1499.82,"endTime":1502.64,"body":"You know, you can rezone land,"},{"speaker":"Victor Lagos","startTime":1502.64,"endTime":1506.15,"body":"but it's usually further out."},{"speaker":"Victor Lagos","startTime":1502.64,"endTime":1506.15,"body":"Whereas when you're building"},{"speaker":"Victor Lagos","startTime":1506.15,"endTime":1509.96,"body":"apartments, you can just keep"},{"speaker":"Victor Lagos","startTime":1506.15,"endTime":1509.96,"body":"building up and up. So that"},{"speaker":"Victor Lagos","startTime":1510.47,"endTime":1514.25,"body":"airspace Exactly. So you don't"},{"speaker":"Victor Lagos","startTime":1510.47,"endTime":1514.25,"body":"actually own the land, right?"},{"speaker":"Victor Lagos","startTime":1514.28,"endTime":1517.4,"body":"You're paying council rates for"},{"speaker":"Victor Lagos","startTime":1514.28,"endTime":1517.4,"body":"your entitlement of it, but you"},{"speaker":"Victor Lagos","startTime":1517.4,"endTime":1520.79,"body":"don't own the land. So you just"},{"speaker":"Victor Lagos","startTime":1517.4,"endTime":1520.79,"body":"own the airspace, you don't even"},{"speaker":"Victor Lagos","startTime":1520.79,"endTime":1524.72,"body":"own the walls. So you can't even"},{"speaker":"Victor Lagos","startTime":1520.79,"endTime":1524.72,"body":"you know, knock it down, or, you"},{"speaker":"Victor Lagos","startTime":1524.72,"endTime":1526.88,"body":"know, add another room, you need"},{"speaker":"Victor Lagos","startTime":1524.72,"endTime":1526.88,"body":"to get permission from the"},{"speaker":"Victor Lagos","startTime":1526.88,"endTime":1531.53,"body":"strata, body corporate. So,"},{"speaker":"Victor Lagos","startTime":1526.88,"endTime":1531.53,"body":"yeah, too, I think as well, that"},{"speaker":"Victor Lagos","startTime":1531.74,"endTime":1534.29,"body":"helps learn to appreciate more"},{"speaker":"Victor Lagos","startTime":1531.74,"endTime":1534.29,"body":"than the unit."},{"speaker":"Philip Khao","startTime":1534.5,"endTime":1538.01,"body":"Yeah, and as I was"},{"speaker":"Philip Khao","startTime":1534.5,"endTime":1538.01,"body":"saying, you know, land or"},{"speaker":"Philip Khao","startTime":1538.01,"endTime":1542.06,"body":"property purchase is effectively"},{"speaker":"Philip Khao","startTime":1538.01,"endTime":1542.06,"body":"a stepping stone to wealth, when"},{"speaker":"Philip Khao","startTime":1542.06,"endTime":1547.4,"body":"I got back from London in about"},{"speaker":"Philip Khao","startTime":1542.06,"endTime":1547.4,"body":"in 2019. And I was going out my"},{"speaker":"Philip Khao","startTime":1547.4,"endTime":1551.21,"body":"own work and my own and the wife"},{"speaker":"Philip Khao","startTime":1547.4,"endTime":1551.21,"body":"and I and needed to get out of"},{"speaker":"Philip Khao","startTime":1551.21,"endTime":1556.73,"body":"our parents place. But because I"},{"speaker":"Philip Khao","startTime":1551.21,"endTime":1556.73,"body":"had those previous investments,"},{"speaker":"Philip Khao","startTime":1556.76,"endTime":1561.29,"body":"there was equity there for me to"},{"speaker":"Philip Khao","startTime":1556.76,"endTime":1561.29,"body":"then utilize and make a purchase"},{"speaker":"Philip Khao","startTime":1561.29,"endTime":1568.82,"body":"of a main residence in the area"},{"speaker":"Philip Khao","startTime":1561.29,"endTime":1568.82,"body":"we want. Now, at the time, the"},{"speaker":"Philip Khao","startTime":1568.82,"endTime":1574.04,"body":"interest rates were about 2%, I"},{"speaker":"Philip Khao","startTime":1568.82,"endTime":1574.04,"body":"think they will low 2%. And I"},{"speaker":"Philip Khao","startTime":1574.04,"endTime":1576.32,"body":"couldn't get enough funding"},{"speaker":"Philip Khao","startTime":1574.04,"endTime":1576.32,"body":"because the market was surging"},{"speaker":"Philip Khao","startTime":1576.32,"endTime":1578.54,"body":"at the time, and everything was"},{"speaker":"Philip Khao","startTime":1576.32,"endTime":1578.54,"body":"going through auction, so"},{"speaker":"Philip Khao","startTime":1578.54,"endTime":1582.44,"body":"everything was overpriced,"},{"speaker":"Philip Khao","startTime":1578.54,"endTime":1582.44,"body":"whatever it was guided that, add"},{"speaker":"Philip Khao","startTime":1582.44,"endTime":1587.36,"body":"another one 200,000. And so the"},{"speaker":"Philip Khao","startTime":1582.44,"endTime":1587.36,"body":"property we were going for, it"},{"speaker":"Philip Khao","startTime":1587.36,"endTime":1589.52,"body":"was gone at a certain value, and"},{"speaker":"Philip Khao","startTime":1587.36,"endTime":1589.52,"body":"we're like, okay, that's"},{"speaker":"Philip Khao","startTime":1589.52,"endTime":1592.55,"body":"probably going to go over. And I"},{"speaker":"Philip Khao","startTime":1589.52,"endTime":1592.55,"body":"need more money, but the banks"},{"speaker":"Philip Khao","startTime":1592.55,"endTime":1595.37,"body":"wouldn't give it to me. So I"},{"speaker":"Philip Khao","startTime":1592.55,"endTime":1595.37,"body":"decided to go with alternative"},{"speaker":"Philip Khao","startTime":1595.37,"endTime":1599.03,"body":"lending, which I think is might"},{"speaker":"Philip Khao","startTime":1595.37,"endTime":1599.03,"body":"be important to your listeners"},{"speaker":"Philip Khao","startTime":1599.03,"endTime":1603.02,"body":"there. And the reason why I'm"},{"speaker":"Philip Khao","startTime":1599.03,"endTime":1603.02,"body":"mentioning this is because the"},{"speaker":"Philip Khao","startTime":1603.02,"endTime":1607.64,"body":"alternative lending was more"},{"speaker":"Philip Khao","startTime":1603.02,"endTime":1607.64,"body":"expensive. The interest rate was"},{"speaker":"Philip Khao","startTime":1607.64,"endTime":1611.75,"body":"about 5%, I had to pay an"},{"speaker":"Philip Khao","startTime":1607.64,"endTime":1611.75,"body":"application fee of about 20"},{"speaker":"Philip Khao","startTime":1611.75,"endTime":1616.37,"body":"grand or so I held that"},{"speaker":"Philip Khao","startTime":1611.75,"endTime":1616.37,"body":"property, my main residence for"},{"speaker":"Philip Khao","startTime":1616.4,"endTime":1620.63,"body":"the next 12 months. So really,"},{"speaker":"Philip Khao","startTime":1616.4,"endTime":1620.63,"body":"that property purchase cost me"},{"speaker":"Philip Khao","startTime":1621.35,"endTime":1626.24,"body":"another 50 grand, roughly 4050"},{"speaker":"Philip Khao","startTime":1621.35,"endTime":1626.24,"body":"grand. But when I decided to go"},{"speaker":"Philip Khao","startTime":1626.27,"endTime":1629.39,"body":"or make that decision, I"},{"speaker":"Philip Khao","startTime":1626.27,"endTime":1629.39,"body":"thought, like it's my main"},{"speaker":"Philip Khao","startTime":1629.39,"endTime":1634.94,"body":"residence, I'm gonna stay here"},{"speaker":"Philip Khao","startTime":1629.39,"endTime":1634.94,"body":"for some time. And 50 grand is"},{"speaker":"Philip Khao","startTime":1634.97,"endTime":1639.77,"body":"nothing when you think about"},{"speaker":"Philip Khao","startTime":1634.97,"endTime":1639.77,"body":"being able to live where you"},{"speaker":"Philip Khao","startTime":1639.77,"endTime":1644.24,"body":"want, in a house that you want."},{"speaker":"Philip Khao","startTime":1639.77,"endTime":1644.24,"body":"And I thought that's just a"},{"speaker":"Philip Khao","startTime":1644.24,"endTime":1647.75,"body":"small price to pay. And a lot of"},{"speaker":"Philip Khao","startTime":1644.24,"endTime":1647.75,"body":"people overlook that. They go,"},{"speaker":"Philip Khao","startTime":1647.75,"endTime":1650.57,"body":"Oh, interest rates are too high,"},{"speaker":"Philip Khao","startTime":1647.75,"endTime":1650.57,"body":"I can't I don't want to buy that"},{"speaker":"Philip Khao","startTime":1650.57,"endTime":1654.26,"body":"property, or I've got to pay an"},{"speaker":"Philip Khao","startTime":1650.57,"endTime":1654.26,"body":"extra 20 grand, I don't want to"},{"speaker":"Philip Khao","startTime":1654.26,"endTime":1659.39,"body":"buy that that's the I guess"},{"speaker":"Philip Khao","startTime":1654.26,"endTime":1659.39,"body":"they're kind of losing sight of"},{"speaker":"Philip Khao","startTime":1659.42,"endTime":1663.83,"body":"the bigger picture. Because I've"},{"speaker":"Philip Khao","startTime":1659.42,"endTime":1663.83,"body":"made that decision to spend that"},{"speaker":"Philip Khao","startTime":1663.83,"endTime":1667.52,"body":"extra 50 grand before refinance"},{"speaker":"Philip Khao","startTime":1663.83,"endTime":1667.52,"body":"for that, right? You know, that"},{"speaker":"Philip Khao","startTime":1667.52,"endTime":1674.9,"body":"property itself has gone up by"},{"speaker":"Philip Khao","startTime":1667.52,"endTime":1674.9,"body":"70% in two, three years. And so"},{"speaker":"Philip Khao","startTime":1674.9,"endTime":1678.23,"body":"you know, 50 grand is nothing,"},{"speaker":"Philip Khao","startTime":1674.9,"endTime":1678.23,"body":"it's a drop in the ocean."},{"speaker":"Philip Khao","startTime":1678.23,"endTime":1678.53,"body":"Really?"},{"speaker":"Victor Lagos","startTime":1678.56,"endTime":1680.9,"body":"Would you say that"},{"speaker":"Victor Lagos","startTime":1678.56,"endTime":1680.9,"body":"was a bit of luck in terms of"},{"speaker":"Victor Lagos","startTime":1680.9,"endTime":1684.08,"body":"timing, that it went up 70%."},{"speaker":"Victor Lagos","startTime":1680.9,"endTime":1684.08,"body":"Because that's a huge spike in a"},{"speaker":"Victor Lagos","startTime":1684.08,"endTime":1688.13,"body":"short amount of time, when you"},{"speaker":"Victor Lagos","startTime":1684.08,"endTime":1688.13,"body":"made a decision. When you made"},{"speaker":"Victor Lagos","startTime":1688.13,"endTime":1691.94,"body":"that decision, to spend an extra"},{"speaker":"Victor Lagos","startTime":1688.13,"endTime":1691.94,"body":"50 grand pay the higher rate,"},{"speaker":"Victor Lagos","startTime":1692.63,"endTime":1695.06,"body":"did you have that in your mind"},{"speaker":"Victor Lagos","startTime":1692.63,"endTime":1695.06,"body":"that it's going to grow in value"},{"speaker":"Victor Lagos","startTime":1695.06,"endTime":1697.31,"body":"in the short term, or it was"},{"speaker":"Victor Lagos","startTime":1695.06,"endTime":1697.31,"body":"more the fact that you're going"},{"speaker":"Victor Lagos","startTime":1697.31,"endTime":1699.86,"body":"to live in the property. And"},{"speaker":"Victor Lagos","startTime":1697.31,"endTime":1699.86,"body":"that was something that was"},{"speaker":"Victor Lagos","startTime":1699.86,"endTime":1701.72,"body":"important to you willing to pay"},{"speaker":"Victor Lagos","startTime":1699.86,"endTime":1701.72,"body":"the price for that? Look, I"},{"speaker":"Philip Khao","startTime":1701.72,"endTime":1705.38,"body":"didn't think in the"},{"speaker":"Philip Khao","startTime":1701.72,"endTime":1705.38,"body":"short term had grown by 70%. But"},{"speaker":"Philip Khao","startTime":1705.38,"endTime":1708.38,"body":"I knew over time that I that I'd"},{"speaker":"Philip Khao","startTime":1705.38,"endTime":1708.38,"body":"be holding that you would grow"},{"speaker":"Philip Khao","startTime":1708.68,"endTime":1712.61,"body":"substantially, maybe not 70, but"},{"speaker":"Philip Khao","startTime":1708.68,"endTime":1712.61,"body":"substantially, but because of"},{"speaker":"Philip Khao","startTime":1712.61,"endTime":1715.52,"body":"that now that's going to help me"},{"speaker":"Philip Khao","startTime":1712.61,"endTime":1715.52,"body":"facilitate or facilitate my next"},{"speaker":"Philip Khao","startTime":1715.52,"endTime":1720.14,"body":"purchase of an upgraded main"},{"speaker":"Philip Khao","startTime":1715.52,"endTime":1720.14,"body":"residence. Yeah, but because I,"},{"speaker":"Philip Khao","startTime":1720.2,"endTime":1723.74,"body":"you know, in my mom, thank God"},{"speaker":"Philip Khao","startTime":1720.2,"endTime":1723.74,"body":"for her once again, pushed me"},{"speaker":"Philip Khao","startTime":1723.74,"endTime":1728.42,"body":"into getting that first property"},{"speaker":"Philip Khao","startTime":1723.74,"endTime":1728.42,"body":"purchase land. So much equity"},{"speaker":"Philip Khao","startTime":1728.42,"endTime":1732.59,"body":"was there was so much equity"},{"speaker":"Philip Khao","startTime":1728.42,"endTime":1732.59,"body":"over time that it was able to"},{"speaker":"Philip Khao","startTime":1732.59,"endTime":1737.48,"body":"then I guess, facilitate my next"},{"speaker":"Philip Khao","startTime":1732.59,"endTime":1737.48,"body":"purchases, it keeps going up."},{"speaker":"Philip Khao","startTime":1737.48,"endTime":1741.56,"body":"And I've been once I get to the"},{"speaker":"Philip Khao","startTime":1737.48,"endTime":1741.56,"body":"ER, once my wife is happy with"},{"speaker":"Philip Khao","startTime":1741.59,"endTime":1744.53,"body":"the home that we live in, then I"},{"speaker":"Philip Khao","startTime":1741.59,"endTime":1744.53,"body":"can start you know, thinking"},{"speaker":"Philip Khao","startTime":1744.53,"endTime":1748.4,"body":"about making other property"},{"speaker":"Philip Khao","startTime":1744.53,"endTime":1748.4,"body":"purchase for investment. Yeah."},{"speaker":"Victor Lagos","startTime":1749.12,"endTime":1750.68,"body":"No, no, that's,"},{"speaker":"Victor Lagos","startTime":1749.12,"endTime":1750.68,"body":"that's really great. Thanks for"},{"speaker":"Victor Lagos","startTime":1750.68,"endTime":1752.81,"body":"sharing that because there's a"},{"speaker":"Victor Lagos","startTime":1750.68,"endTime":1752.81,"body":"couple of things I wanted to"},{"speaker":"Victor Lagos","startTime":1752.81,"endTime":1756.11,"body":"touch on with what you"},{"speaker":"Victor Lagos","startTime":1752.81,"endTime":1756.11,"body":"mentioned. A lot of people want"},{"speaker":"Victor Lagos","startTime":1756.11,"endTime":1759.32,"body":"to get the home first, and then"},{"speaker":"Victor Lagos","startTime":1756.11,"endTime":1759.32,"body":"buy investment properties later."},{"speaker":"Victor Lagos","startTime":1760.25,"endTime":1763.16,"body":"When you want to buy the home"},{"speaker":"Victor Lagos","startTime":1760.25,"endTime":1763.16,"body":"first, you're limited with what"},{"speaker":"Victor Lagos","startTime":1763.16,"endTime":1766.97,"body":"you can get into because usually"},{"speaker":"Victor Lagos","startTime":1763.16,"endTime":1766.97,"body":"the home you want is in the area"},{"speaker":"Victor Lagos","startTime":1766.97,"endTime":1768.77,"body":"that you want to live in. It's"},{"speaker":"Victor Lagos","startTime":1766.97,"endTime":1768.77,"body":"somewhere you might have grown"},{"speaker":"Victor Lagos","startTime":1768.77,"endTime":1773.03,"body":"up. And if it's in Sydney or"},{"speaker":"Victor Lagos","startTime":1768.77,"endTime":1773.03,"body":"Melbourne, that price can be"},{"speaker":"Victor Lagos","startTime":1773.24,"endTime":1778.01,"body":"unreachable right now. But you"},{"speaker":"Victor Lagos","startTime":1773.24,"endTime":1778.01,"body":"went in on the angle of I want"},{"speaker":"Victor Lagos","startTime":1778.01,"endTime":1781.04,"body":"to go in at 21 By the way,"},{"speaker":"Victor Lagos","startTime":1778.01,"endTime":1781.04,"body":"that's it's very impressive that"},{"speaker":"Victor Lagos","startTime":1781.04,"endTime":1784.13,"body":"you're able to buy a property at"},{"speaker":"Victor Lagos","startTime":1781.04,"endTime":1784.13,"body":"21. And, you know, great that"},{"speaker":"Victor Lagos","startTime":1784.13,"endTime":1786.71,"body":"your mom really helped you to"},{"speaker":"Victor Lagos","startTime":1784.13,"endTime":1786.71,"body":"get in. And I'm sure there's"},{"speaker":"Victor Lagos","startTime":1786.71,"endTime":1789.71,"body":"other people that can get that"},{"speaker":"Victor Lagos","startTime":1786.71,"endTime":1789.71,"body":"helped them their parents, but"},{"speaker":"Victor Lagos","startTime":1789.71,"endTime":1793.13,"body":"you bought it as an owner"},{"speaker":"Victor Lagos","startTime":1789.71,"endTime":1793.13,"body":"occupier, but then you moved to"},{"speaker":"Victor Lagos","startTime":1793.13,"endTime":1798.71,"body":"the UK, so then it converted to"},{"speaker":"Victor Lagos","startTime":1793.13,"endTime":1798.71,"body":"an investment property. So then"},{"speaker":"Victor Lagos","startTime":1798.71,"endTime":1801.86,"body":"you went up in value you access"},{"speaker":"Victor Lagos","startTime":1798.71,"endTime":1801.86,"body":"the equity and you built granny"},{"speaker":"Victor Lagos","startTime":1801.86,"endTime":1805.76,"body":"flats and now became positive"},{"speaker":"Victor Lagos","startTime":1801.86,"endTime":1805.76,"body":"cash flow. And then because it"},{"speaker":"Victor Lagos","startTime":1805.76,"endTime":1809.12,"body":"went up in value even further,"},{"speaker":"Victor Lagos","startTime":1805.76,"endTime":1809.12,"body":"you then extracted that growth,"},{"speaker":"Victor Lagos","startTime":1809.12,"endTime":1812.42,"body":"the equity, use that as a"},{"speaker":"Victor Lagos","startTime":1809.12,"endTime":1812.42,"body":"deposit to buy your home. So"},{"speaker":"Victor Lagos","startTime":1812.42,"endTime":1815.03,"body":"yes, you did buy it initially as"},{"speaker":"Victor Lagos","startTime":1812.42,"endTime":1815.03,"body":"an owner occupier, but you were"},{"speaker":"Victor Lagos","startTime":1815.03,"endTime":1817.49,"body":"21. So you weren't buying the"},{"speaker":"Victor Lagos","startTime":1815.03,"endTime":1817.49,"body":"dream home, you're buying"},{"speaker":"Victor Lagos","startTime":1817.49,"endTime":1820.46,"body":"whatever you can get to get the"},{"speaker":"Victor Lagos","startTime":1817.49,"endTime":1820.46,"body":"government stamp duty"},{"speaker":"Victor Lagos","startTime":1820.46,"endTime":1824.54,"body":"exemptions. So if you are"},{"speaker":"Victor Lagos","startTime":1820.46,"endTime":1824.54,"body":"listening, that's another angle"},{"speaker":"Victor Lagos","startTime":1824.54,"endTime":1828.08,"body":"to look at it. Because now Phil"},{"speaker":"Victor Lagos","startTime":1824.54,"endTime":1828.08,"body":"has got a couple of properties"},{"speaker":"Victor Lagos","startTime":1828.08,"endTime":1831.44,"body":"up his sleeve, he's looking at"},{"speaker":"Victor Lagos","startTime":1828.08,"endTime":1831.44,"body":"the next. And he's also a"},{"speaker":"Victor Lagos","startTime":1831.44,"endTime":1834.2,"body":"business owner. So this is what"},{"speaker":"Victor Lagos","startTime":1831.44,"endTime":1834.2,"body":"I always talked about to people"},{"speaker":"Victor Lagos","startTime":1834.2,"endTime":1838.28,"body":"that you've got to have multiple"},{"speaker":"Victor Lagos","startTime":1834.2,"endTime":1838.28,"body":"streams of income. And if you"},{"speaker":"Victor Lagos","startTime":1838.28,"endTime":1841.04,"body":"want to create a small fortune,"},{"speaker":"Victor Lagos","startTime":1838.28,"endTime":1841.04,"body":"you got to do a bit of both two"},{"speaker":"Victor Lagos","startTime":1841.04,"endTime":1844.04,"body":"things. One is spend less than"},{"speaker":"Victor Lagos","startTime":1841.04,"endTime":1844.04,"body":"you earn and invest the"},{"speaker":"Victor Lagos","startTime":1844.04,"endTime":1848.27,"body":"difference. And then use"},{"speaker":"Victor Lagos","startTime":1844.04,"endTime":1848.27,"body":"leverage to buy property, which"},{"speaker":"Victor Lagos","startTime":1848.27,"endTime":1852.68,"body":"is what you did, and to create,"},{"speaker":"Victor Lagos","startTime":1848.27,"endTime":1852.68,"body":"and or provide something of"},{"speaker":"Victor Lagos","startTime":1852.68,"endTime":1855.59,"body":"value that other people are"},{"speaker":"Victor Lagos","startTime":1852.68,"endTime":1855.59,"body":"willing to pay for. And that's"},{"speaker":"Victor Lagos","startTime":1855.59,"endTime":1858.5,"body":"having a business. So"},{"speaker":"Victor Lagos","startTime":1855.59,"endTime":1858.5,"body":"accounting, so you're doing"},{"speaker":"Victor Lagos","startTime":1858.5,"endTime":1862.94,"body":"that, too. So what I wanted to"},{"speaker":"Victor Lagos","startTime":1858.5,"endTime":1862.94,"body":"ask you is, what are some of the"},{"speaker":"Victor Lagos","startTime":1862.94,"endTime":1867.59,"body":"things that you're currently"},{"speaker":"Victor Lagos","startTime":1862.94,"endTime":1867.59,"body":"applying itself that are helping"},{"speaker":"Victor Lagos","startTime":1867.59,"endTime":1870.38,"body":"you create more of this"},{"speaker":"Victor Lagos","startTime":1867.59,"endTime":1870.38,"body":"financial freedom, and let you"},{"speaker":"Victor Lagos","startTime":1870.47,"endTime":1871.79,"body":"do more of what you enjoy?"},{"speaker":"Philip Khao","startTime":1872.57,"endTime":1875.72,"body":"Good question, I"},{"speaker":"Philip Khao","startTime":1872.57,"endTime":1875.72,"body":"guess more specifically to solve"},{"speaker":"Philip Khao","startTime":1875.78,"endTime":1879.71,"body":"the business and what we're"},{"speaker":"Philip Khao","startTime":1875.78,"endTime":1879.71,"body":"doing, we we currently, we have"},{"speaker":"Philip Khao","startTime":1879.71,"endTime":1884.36,"body":"a lean business model on lean"},{"speaker":"Philip Khao","startTime":1879.71,"endTime":1884.36,"body":"structure. What that means is we"},{"speaker":"Philip Khao","startTime":1884.36,"endTime":1888.62,"body":"don't have fixed rent an office"},{"speaker":"Philip Khao","startTime":1884.36,"endTime":1888.62,"body":"space, we use a co workspace. So"},{"speaker":"Philip Khao","startTime":1888.62,"endTime":1891.74,"body":"that's pretty helpful. The fact"},{"speaker":"Philip Khao","startTime":1888.62,"endTime":1891.74,"body":"that we're a service provider,"},{"speaker":"Philip Khao","startTime":1891.74,"endTime":1894.8,"body":"having zoom allows us to"},{"speaker":"Philip Khao","startTime":1891.74,"endTime":1894.8,"body":"communicate with our clients"},{"speaker":"Philip Khao","startTime":1895.04,"endTime":1900.38,"body":"without having to travel, waste"},{"speaker":"Philip Khao","startTime":1895.04,"endTime":1900.38,"body":"time traveling, or having an"},{"speaker":"Philip Khao","startTime":1900.38,"endTime":1905.72,"body":"office space. We also outsource"},{"speaker":"Philip Khao","startTime":1900.38,"endTime":1905.72,"body":"most of our data entry work and"},{"speaker":"Philip Khao","startTime":1906.32,"endTime":1910.19,"body":"compliance work to the"},{"speaker":"Philip Khao","startTime":1906.32,"endTime":1910.19,"body":"Philippines. And they've been"},{"speaker":"Philip Khao","startTime":1910.28,"endTime":1914.18,"body":"pretty good in terms of getting"},{"speaker":"Philip Khao","startTime":1910.28,"endTime":1914.18,"body":"the work done from start to"},{"speaker":"Philip Khao","startTime":1914.18,"endTime":1919.43,"body":"finish. People over there really"},{"speaker":"Philip Khao","startTime":1914.18,"endTime":1919.43,"body":"hungry, the employee market in"},{"speaker":"Philip Khao","startTime":1919.43,"endTime":1922.22,"body":"Australia it's it's it's pretty"},{"speaker":"Philip Khao","startTime":1919.43,"endTime":1922.22,"body":"dire at the moment you can you"},{"speaker":"Philip Khao","startTime":1922.22,"endTime":1924.83,"body":"probably hear across all"},{"speaker":"Philip Khao","startTime":1922.22,"endTime":1924.83,"body":"industries that it's very hard"},{"speaker":"Philip Khao","startTime":1924.83,"endTime":1929.39,"body":"to find someone good. And if you"},{"speaker":"Philip Khao","startTime":1924.83,"endTime":1929.39,"body":"do find someone good, you're"},{"speaker":"Philip Khao","startTime":1929.42,"endTime":1933.83,"body":"probably going to have to really"},{"speaker":"Philip Khao","startTime":1929.42,"endTime":1933.83,"body":"overpay. So now that we've kind"},{"speaker":"Philip Khao","startTime":1933.83,"endTime":1938.48,"body":"of in a world of I feel like"},{"speaker":"Philip Khao","startTime":1933.83,"endTime":1938.48,"body":"it's globalization is has kind"},{"speaker":"Philip Khao","startTime":1938.48,"endTime":1941.63,"body":"of taken over. And you can"},{"speaker":"Philip Khao","startTime":1938.48,"endTime":1941.63,"body":"actually find really good"},{"speaker":"Philip Khao","startTime":1941.87,"endTime":1945.56,"body":"motivated people in the"},{"speaker":"Philip Khao","startTime":1941.87,"endTime":1945.56,"body":"Philippines or anywhere else in"},{"speaker":"Philip Khao","startTime":1945.56,"endTime":1951.26,"body":"the world. Not a fraction of the"},{"speaker":"Philip Khao","startTime":1945.56,"endTime":1951.26,"body":"price but a better price. And be"},{"speaker":"Philip Khao","startTime":1951.26,"endTime":1955.13,"body":"able to do the same work because"},{"speaker":"Philip Khao","startTime":1951.26,"endTime":1955.13,"body":"they're hungry. And I can relate"},{"speaker":"Philip Khao","startTime":1955.13,"endTime":1957.23,"body":"to that, because I went to the"},{"speaker":"Philip Khao","startTime":1955.13,"endTime":1957.23,"body":"UK, I had to learn a bit of the"},{"speaker":"Philip Khao","startTime":1957.26,"endTime":1965.69,"body":"local legislative tax laws"},{"speaker":"Philip Khao","startTime":1957.26,"endTime":1965.69,"body":"there. And the only takes you if"},{"speaker":"Philip Khao","startTime":1965.69,"endTime":1969.71,"body":"you're willing to you can do it."},{"speaker":"Philip Khao","startTime":1965.69,"endTime":1969.71,"body":"Alright, so those are the two"},{"speaker":"Philip Khao","startTime":1969.71,"endTime":1973.52,"body":"things. And I think the third"},{"speaker":"Philip Khao","startTime":1969.71,"endTime":1973.52,"body":"thing as well as being able to,"},{"speaker":"Philip Khao","startTime":1975.2,"endTime":1980.63,"body":"I guess, pay your employees"},{"speaker":"Philip Khao","startTime":1975.2,"endTime":1980.63,"body":"differently. So we all were"},{"speaker":"Philip Khao","startTime":1980.63,"endTime":1982.91,"body":"quite, we're quite used to the"},{"speaker":"Philip Khao","startTime":1980.63,"endTime":1982.91,"body":"traditional way of paying them"},{"speaker":"Philip Khao","startTime":1982.91,"endTime":1986.78,"body":"gross wage. This is what you're"},{"speaker":"Philip Khao","startTime":1982.91,"endTime":1986.78,"body":"gonna get, that's your package."},{"speaker":"Philip Khao","startTime":1987.29,"endTime":1990.44,"body":"But it's now about"},{"speaker":"Philip Khao","startTime":1987.29,"endTime":1990.44,"body":"incentivizing, incentivizing"},{"speaker":"Philip Khao","startTime":1990.44,"endTime":1993.8,"body":"them, giving them a bit of you"},{"speaker":"Philip Khao","startTime":1990.44,"endTime":1993.8,"body":"know, skin in the game so that"},{"speaker":"Philip Khao","startTime":1993.8,"endTime":1997.97,"body":"they're working as hard. And"},{"speaker":"Philip Khao","startTime":1993.8,"endTime":1997.97,"body":"they feel a part of the team and"},{"speaker":"Philip Khao","startTime":1997.97,"endTime":2002.59,"body":"not just the unemployed grinding"},{"speaker":"Philip Khao","startTime":1997.97,"endTime":2002.59,"body":"away. So that might be putting a"},{"speaker":"Philip Khao","startTime":2002.59,"endTime":2006.67,"body":"commission or bonus scheme in"},{"speaker":"Philip Khao","startTime":2002.59,"endTime":2006.67,"body":"place. But that helps to retain"},{"speaker":"Philip Khao","startTime":2006.67,"endTime":2011.5,"body":"as well. So we've got that in"},{"speaker":"Philip Khao","startTime":2006.67,"endTime":2011.5,"body":"place. We also have a different"},{"speaker":"Philip Khao","startTime":2011.5,"endTime":2017.74,"body":"corporate structure to most we,"},{"speaker":"Philip Khao","startTime":2011.5,"endTime":2017.74,"body":"Mr. Business partners. We don't"},{"speaker":"Philip Khao","startTime":2017.74,"endTime":2022.36,"body":"take a wage. So a lot of"},{"speaker":"Philip Khao","startTime":2017.74,"endTime":2022.36,"body":"business. A lot of people that"},{"speaker":"Philip Khao","startTime":2022.36,"endTime":2024.91,"body":"get into business think okay,"},{"speaker":"Philip Khao","startTime":2022.36,"endTime":2024.91,"body":"how do I extract cash out of the"},{"speaker":"Philip Khao","startTime":2024.91,"endTime":2030.43,"body":"business, I've got to pay myself"},{"speaker":"Philip Khao","startTime":2024.91,"endTime":2030.43,"body":"a wage. But for us, we don't do"},{"speaker":"Philip Khao","startTime":2030.43,"endTime":2034.21,"body":"that we issue dividend access"},{"speaker":"Philip Khao","startTime":2030.43,"endTime":2034.21,"body":"shares to the partners. And we"},{"speaker":"Philip Khao","startTime":2034.21,"endTime":2037.87,"body":"extract fully franked dividends"},{"speaker":"Philip Khao","startTime":2034.21,"endTime":2037.87,"body":"from that small tax efficient."},{"speaker":"Philip Khao","startTime":2039.22,"endTime":2043.51,"body":"And from that we can still get"},{"speaker":"Philip Khao","startTime":2039.22,"endTime":2043.51,"body":"loans, we can still refinance,"},{"speaker":"Philip Khao","startTime":2043.51,"endTime":2046.51,"body":"you know, as a broker, you may"},{"speaker":"Philip Khao","startTime":2043.51,"endTime":2046.51,"body":"have come across those that"},{"speaker":"Philip Khao","startTime":2046.51,"endTime":2051.91,"body":"either earn salary or those that"},{"speaker":"Philip Khao","startTime":2046.51,"endTime":2051.91,"body":"earn dividends. So those are the"},{"speaker":"Philip Khao","startTime":2051.91,"endTime":2056.26,"body":"couple of things that we do"},{"speaker":"Philip Khao","startTime":2051.91,"endTime":2056.26,"body":"specific to solve that allows us"},{"speaker":"Philip Khao","startTime":2056.35,"endTime":2059.11,"body":"more financial freedom to do"},{"speaker":"Philip Khao","startTime":2056.35,"endTime":2059.11,"body":"things that we want to do."},{"speaker":"Victor Lagos","startTime":2059.89,"endTime":2063.64,"body":"It sounds like"},{"speaker":"Victor Lagos","startTime":2059.89,"endTime":2063.64,"body":"you've applied what you teach"},{"speaker":"Victor Lagos","startTime":2063.67,"endTime":2067.0,"body":"others to do in your own"},{"speaker":"Victor Lagos","startTime":2063.67,"endTime":2067.0,"body":"business, which I think is"},{"speaker":"Victor Lagos","startTime":2067.0,"endTime":2071.14,"body":"really powerful because you're"},{"speaker":"Victor Lagos","startTime":2067.0,"endTime":2071.14,"body":"sharing real life experience and"},{"speaker":"Victor Lagos","startTime":2071.14,"endTime":2076.27,"body":"wisdom that can translate into"},{"speaker":"Victor Lagos","startTime":2071.14,"endTime":2076.27,"body":"any business. You know, of"},{"speaker":"Victor Lagos","startTime":2076.27,"endTime":2080.86,"body":"course, you know, the way you"},{"speaker":"Victor Lagos","startTime":2076.27,"endTime":2080.86,"body":"hire staff and outsource and the"},{"speaker":"Victor Lagos","startTime":2080.86,"endTime":2084.64,"body":"way you train them is also"},{"speaker":"Victor Lagos","startTime":2080.86,"endTime":2084.64,"body":"another piece to that right. And"},{"speaker":"Victor Lagos","startTime":2084.67,"endTime":2088.15,"body":"we can always go deeper and how"},{"speaker":"Victor Lagos","startTime":2084.67,"endTime":2088.15,"body":"you do that. When someone's"},{"speaker":"Victor Lagos","startTime":2088.15,"endTime":2090.88,"body":"overseas. That's a challenge to"},{"speaker":"Victor Lagos","startTime":2088.15,"endTime":2090.88,"body":"someone. How do you train"},{"speaker":"Victor Lagos","startTime":2090.88,"endTime":2094.12,"body":"someone to do do the job and you"},{"speaker":"Victor Lagos","startTime":2090.88,"endTime":2094.12,"body":"can't even meet them face to"},{"speaker":"Victor Lagos","startTime":2094.12,"endTime":2097.24,"body":"face. If you come from a"},{"speaker":"Victor Lagos","startTime":2094.12,"endTime":2097.24,"body":"corporate background, which I do"},{"speaker":"Victor Lagos","startTime":2097.24,"endTime":2100.0,"body":"as well. I used to work at"},{"speaker":"Victor Lagos","startTime":2097.24,"endTime":2100.0,"body":"Macquarie Bank. You get trained"},{"speaker":"Victor Lagos","startTime":2100.0,"endTime":2102.91,"body":"And with a buddy system. So"},{"speaker":"Victor Lagos","startTime":2100.0,"endTime":2102.91,"body":"someone will show you the ropes"},{"speaker":"Victor Lagos","startTime":2102.91,"endTime":2105.04,"body":"face to face, you can ask"},{"speaker":"Victor Lagos","startTime":2102.91,"endTime":2105.04,"body":"questions, take notes, and you"},{"speaker":"Victor Lagos","startTime":2105.04,"endTime":2109.0,"body":"get to practice on the job kind"},{"speaker":"Victor Lagos","startTime":2105.04,"endTime":2109.0,"body":"of like a cadetship. But when"},{"speaker":"Victor Lagos","startTime":2109.0,"endTime":2111.7,"body":"you're training someone"},{"speaker":"Victor Lagos","startTime":2109.0,"endTime":2111.7,"body":"overseas, you need to be pretty"},{"speaker":"Victor Lagos","startTime":2111.7,"endTime":2116.44,"body":"proficient with Zoom or, you"},{"speaker":"Victor Lagos","startTime":2111.7,"endTime":2116.44,"body":"know, Google meet or, you know,"},{"speaker":"Victor Lagos","startTime":2116.44,"endTime":2120.61,"body":"teams or whatever it is. record"},{"speaker":"Victor Lagos","startTime":2116.44,"endTime":2120.61,"body":"that, and then create a process"},{"speaker":"Victor Lagos","startTime":2120.61,"endTime":2121.57,"body":"manual as well."},{"speaker":"Philip Khao","startTime":2121.84,"endTime":2124.78,"body":"Yes, standard way"},{"speaker":"Philip Khao","startTime":2121.84,"endTime":2124.78,"body":"of operating. Yeah, yeah. Like,"},{"speaker":"Philip Khao","startTime":2124.78,"endTime":2127.15,"body":"I guess I'll add a bit more to"},{"speaker":"Philip Khao","startTime":2124.78,"endTime":2127.15,"body":"that, like five other things"},{"speaker":"Philip Khao","startTime":2127.15,"endTime":2131.53,"body":"that we do as well, but would"},{"speaker":"Philip Khao","startTime":2127.15,"endTime":2131.53,"body":"probably apply to most"},{"speaker":"Philip Khao","startTime":2131.53,"endTime":2135.97,"body":"businesses. The first one is to"},{"speaker":"Philip Khao","startTime":2131.53,"endTime":2135.97,"body":"understand their cash flow, or"},{"speaker":"Philip Khao","startTime":2135.97,"endTime":2139.84,"body":"the cash money going in money"},{"speaker":"Philip Khao","startTime":2135.97,"endTime":2139.84,"body":"going out. And you touched on"},{"speaker":"Philip Khao","startTime":2139.84,"endTime":2142.33,"body":"that before. But if you have an"},{"speaker":"Philip Khao","startTime":2139.84,"endTime":2142.33,"body":"understanding of how that all"},{"speaker":"Philip Khao","startTime":2142.33,"endTime":2147.13,"body":"works, you're able to plan ahead"},{"speaker":"Philip Khao","startTime":2142.33,"endTime":2147.13,"body":"for the future. And you can make"},{"speaker":"Philip Khao","startTime":2147.19,"endTime":2150.88,"body":"strategic decisions that won't"},{"speaker":"Philip Khao","startTime":2147.19,"endTime":2150.88,"body":"impact your bottom line, or the"},{"speaker":"Philip Khao","startTime":2150.88,"endTime":2154.75,"body":"business at all, in an adverse"},{"speaker":"Philip Khao","startTime":2150.88,"endTime":2154.75,"body":"way. Having financial controls"},{"speaker":"Philip Khao","startTime":2154.75,"endTime":2158.83,"body":"is another part of that. The"},{"speaker":"Philip Khao","startTime":2154.75,"endTime":2158.83,"body":"second thing is having in we've"},{"speaker":"Philip Khao","startTime":2158.83,"endTime":2160.81,"body":"mentioned that just now, but"},{"speaker":"Philip Khao","startTime":2158.83,"endTime":2160.81,"body":"having a standard way of"},{"speaker":"Philip Khao","startTime":2160.81,"endTime":2165.22,"body":"operating, that's going to bring"},{"speaker":"Philip Khao","startTime":2160.81,"endTime":2165.22,"body":"so much in efficiencies in the"},{"speaker":"Philip Khao","startTime":2165.22,"endTime":2168.52,"body":"business. When you think about"},{"speaker":"Philip Khao","startTime":2165.22,"endTime":2168.52,"body":"training staff, whether that's"},{"speaker":"Philip Khao","startTime":2168.55,"endTime":2172.27,"body":"you know, domestically or"},{"speaker":"Philip Khao","startTime":2168.55,"endTime":2172.27,"body":"overseas, you're going to train"},{"speaker":"Philip Khao","startTime":2172.27,"endTime":2177.91,"body":"them, you investing your time,"},{"speaker":"Philip Khao","startTime":2172.27,"endTime":2177.91,"body":"you might be 234 months that you"},{"speaker":"Philip Khao","startTime":2177.94,"endTime":2181.06,"body":"spend with them. And then"},{"speaker":"Philip Khao","startTime":2177.94,"endTime":2181.06,"body":"another four months later, they"},{"speaker":"Philip Khao","startTime":2181.06,"endTime":2185.47,"body":"decide I'm done with this, I'm"},{"speaker":"Philip Khao","startTime":2181.06,"endTime":2185.47,"body":"gone. Now you just wasted four"},{"speaker":"Philip Khao","startTime":2185.47,"endTime":2188.38,"body":"months training them, now you"},{"speaker":"Philip Khao","startTime":2185.47,"endTime":2188.38,"body":"got to wait another two months"},{"speaker":"Philip Khao","startTime":2188.38,"endTime":2191.92,"body":"or so finding a replacement,"},{"speaker":"Philip Khao","startTime":2188.38,"endTime":2191.92,"body":"then spend another four months"},{"speaker":"Philip Khao","startTime":2191.92,"endTime":2195.52,"body":"training then the new person."},{"speaker":"Philip Khao","startTime":2191.92,"endTime":2195.52,"body":"And so all that time adds up."},{"speaker":"Philip Khao","startTime":2196.99,"endTime":2200.86,"body":"And that's a lot of cost,"},{"speaker":"Philip Khao","startTime":2196.99,"endTime":2200.86,"body":"because time equals the money"},{"speaker":"Philip Khao","startTime":2200.98,"endTime":2204.07,"body":"that doesn't show up on your"},{"speaker":"Philip Khao","startTime":2200.98,"endTime":2204.07,"body":"financials that you've just"},{"speaker":"Philip Khao","startTime":2204.43,"endTime":2207.52,"body":"wasted, or that's gone. But if"},{"speaker":"Philip Khao","startTime":2204.43,"endTime":2207.52,"body":"you've got a standard way of"},{"speaker":"Philip Khao","startTime":2207.52,"endTime":2210.04,"body":"operating, you've got procedures"},{"speaker":"Philip Khao","startTime":2207.52,"endTime":2210.04,"body":"in place, if you have the right"},{"speaker":"Philip Khao","startTime":2210.04,"endTime":2213.82,"body":"systems in place, you've got"},{"speaker":"Philip Khao","startTime":2210.04,"endTime":2213.82,"body":"automation as well, that's gonna"},{"speaker":"Philip Khao","startTime":2213.82,"endTime":2217.27,"body":"save you a lot of time, because"},{"speaker":"Philip Khao","startTime":2213.82,"endTime":2217.27,"body":"when that person leaves, the"},{"speaker":"Philip Khao","startTime":2217.27,"endTime":2220.21,"body":"next one can come in, they can"},{"speaker":"Philip Khao","startTime":2217.27,"endTime":2220.21,"body":"you can train them once, it"},{"speaker":"Philip Khao","startTime":2220.21,"endTime":2223.39,"body":"might take them a month, but"},{"speaker":"Philip Khao","startTime":2220.21,"endTime":2223.39,"body":"they've got kind of like a Holy"},{"speaker":"Philip Khao","startTime":2223.39,"endTime":2227.23,"body":"Bible to refer to in terms of"},{"speaker":"Philip Khao","startTime":2223.39,"endTime":2227.23,"body":"how to do their job. So it's"},{"speaker":"Philip Khao","startTime":2227.23,"endTime":2230.41,"body":"very important for growing"},{"speaker":"Philip Khao","startTime":2227.23,"endTime":2230.41,"body":"businesses to have a standard"},{"speaker":"Philip Khao","startTime":2230.41,"endTime":2235.6,"body":"way of operating, so they can"},{"speaker":"Philip Khao","startTime":2230.41,"endTime":2235.6,"body":"save the time. The other thing"},{"speaker":"Philip Khao","startTime":2235.6,"endTime":2239.02,"body":"is the is having a retention"},{"speaker":"Philip Khao","startTime":2235.6,"endTime":2239.02,"body":"plan for the biggest asset of"},{"speaker":"Philip Khao","startTime":2239.02,"endTime":2242.83,"body":"your business, that's your"},{"speaker":"Philip Khao","startTime":2239.02,"endTime":2242.83,"body":"employees. If you have that in"},{"speaker":"Philip Khao","startTime":2242.83,"endTime":2246.25,"body":"place, you know, the good ones"},{"speaker":"Philip Khao","startTime":2242.83,"endTime":2246.25,"body":"will generally leave but you're"},{"speaker":"Philip Khao","startTime":2246.25,"endTime":2251.53,"body":"able to make their life as easy"},{"speaker":"Philip Khao","startTime":2246.25,"endTime":2251.53,"body":"as possible, as fun as possible,"},{"speaker":"Philip Khao","startTime":2251.65,"endTime":2253.57,"body":"and then make good money,"},{"speaker":"Philip Khao","startTime":2251.65,"endTime":2253.57,"body":"they're not going to want to"},{"speaker":"Philip Khao","startTime":2253.57,"endTime":2259.84,"body":"leave you. The fourth one is to"},{"speaker":"Philip Khao","startTime":2253.57,"endTime":2259.84,"body":"understand your business model."},{"speaker":"Philip Khao","startTime":2261.67,"endTime":2264.97,"body":"So your business grows every"},{"speaker":"Philip Khao","startTime":2261.67,"endTime":2264.97,"body":"year, you as a business owner"},{"speaker":"Philip Khao","startTime":2264.97,"endTime":2267.79,"body":"would know what you were"},{"speaker":"Philip Khao","startTime":2264.97,"endTime":2267.79,"body":"thinking about what you thought"},{"speaker":"Philip Khao","startTime":2267.79,"endTime":2271.57,"body":"about your business two months"},{"speaker":"Philip Khao","startTime":2267.79,"endTime":2271.57,"body":"ago has now changed today, it"},{"speaker":"Philip Khao","startTime":2271.57,"endTime":2274.66,"body":"changes every day as a business"},{"speaker":"Philip Khao","startTime":2271.57,"endTime":2274.66,"body":"owner. So every year you should"},{"speaker":"Philip Khao","startTime":2274.93,"endTime":2277.54,"body":"sit back and go, Okay, what does"},{"speaker":"Philip Khao","startTime":2274.93,"endTime":2277.54,"body":"my business look like now? How"},{"speaker":"Philip Khao","startTime":2277.54,"endTime":2280.45,"body":"am I generating revenue? What am"},{"speaker":"Philip Khao","startTime":2277.54,"endTime":2280.45,"body":"I spending on? What am I"},{"speaker":"Philip Khao","startTime":2280.45,"endTime":2285.76,"body":"investing in. And at that point"},{"speaker":"Philip Khao","startTime":2280.45,"endTime":2285.76,"body":"in time, if you have a really"},{"speaker":"Philip Khao","startTime":2285.76,"endTime":2287.95,"body":"good understanding of your"},{"speaker":"Philip Khao","startTime":2285.76,"endTime":2287.95,"body":"business understanding of where"},{"speaker":"Philip Khao","startTime":2287.95,"endTime":2290.92,"body":"you are now you're able to then"},{"speaker":"Philip Khao","startTime":2287.95,"endTime":2290.92,"body":"set goals and plan for the"},{"speaker":"Philip Khao","startTime":2290.92,"endTime":2295.21,"body":"future, which leads to my fifth"},{"speaker":"Philip Khao","startTime":2290.92,"endTime":2295.21,"body":"point, being able to sit there"},{"speaker":"Philip Khao","startTime":2295.45,"endTime":2300.88,"body":"annually or maybe every half"},{"speaker":"Philip Khao","startTime":2295.45,"endTime":2300.88,"body":"year, set your goals. What do"},{"speaker":"Philip Khao","startTime":2300.88,"endTime":2305.68,"body":"you want to achieve in the next"},{"speaker":"Philip Khao","startTime":2300.88,"endTime":2305.68,"body":"five years? 12 months, six"},{"speaker":"Philip Khao","startTime":2305.68,"endTime":2310.33,"body":"months, three months? a month?"},{"speaker":"Philip Khao","startTime":2305.68,"endTime":2310.33,"body":"The most easiest way to do it is"},{"speaker":"Philip Khao","startTime":2310.45,"endTime":2313.66,"body":"through a 12 month strategic"},{"speaker":"Philip Khao","startTime":2310.45,"endTime":2313.66,"body":"plan. What do you want? What are"},{"speaker":"Philip Khao","startTime":2313.66,"endTime":2317.59,"body":"the four things you want to"},{"speaker":"Philip Khao","startTime":2313.66,"endTime":2317.59,"body":"achieve that year? Put it in"},{"speaker":"Philip Khao","startTime":2317.59,"endTime":2320.95,"body":"quarters, and then break it"},{"speaker":"Philip Khao","startTime":2317.59,"endTime":2320.95,"body":"down. Okay, what do I need to do"},{"speaker":"Philip Khao","startTime":2320.95,"endTime":2325.15,"body":"to achieve that every month? And"},{"speaker":"Philip Khao","startTime":2320.95,"endTime":2325.15,"body":"what you'll find is, and we've"},{"speaker":"Philip Khao","startTime":2325.15,"endTime":2328.75,"body":"done this ourselves, you will"},{"speaker":"Philip Khao","startTime":2325.15,"endTime":2328.75,"body":"progress because you're focusing"},{"speaker":"Philip Khao","startTime":2328.75,"endTime":2331.99,"body":"on one thing, not on many, if"},{"speaker":"Philip Khao","startTime":2328.75,"endTime":2331.99,"body":"you focus on too many, you're"},{"speaker":"Philip Khao","startTime":2331.99,"endTime":2334.39,"body":"just everywhere. You're not"},{"speaker":"Philip Khao","startTime":2331.99,"endTime":2334.39,"body":"gonna make any progress. But if"},{"speaker":"Philip Khao","startTime":2334.39,"endTime":2337.33,"body":"you're consistent, and you"},{"speaker":"Philip Khao","startTime":2334.39,"endTime":2337.33,"body":"follow your plan, you will make"},{"speaker":"Philip Khao","startTime":2337.33,"endTime":2337.96,"body":"the progress."},{"speaker":"Victor Lagos","startTime":2338.23,"endTime":2340.39,"body":"Yeah, no, that's"},{"speaker":"Victor Lagos","startTime":2338.23,"endTime":2340.39,"body":"really powerful. Thanks. Thanks"},{"speaker":"Victor Lagos","startTime":2340.39,"endTime":2343.27,"body":"for sharing that. Because"},{"speaker":"Victor Lagos","startTime":2340.39,"endTime":2343.27,"body":"there's a lot of people out"},{"speaker":"Victor Lagos","startTime":2343.27,"endTime":2346.51,"body":"there that are like that, right?"},{"speaker":"Victor Lagos","startTime":2343.27,"endTime":2346.51,"body":"They've got the energy, they've"},{"speaker":"Victor Lagos","startTime":2346.51,"endTime":2350.08,"body":"got the enthusiasm, but they"},{"speaker":"Victor Lagos","startTime":2346.51,"endTime":2350.08,"body":"spread themselves too thin,"},{"speaker":"Victor Lagos","startTime":2350.41,"endTime":2353.32,"body":"right? They go for the shiny"},{"speaker":"Victor Lagos","startTime":2350.41,"endTime":2353.32,"body":"object, and they're trying to do"},{"speaker":"Victor Lagos","startTime":2353.32,"endTime":2356.71,"body":"a bit of everything everywhere."},{"speaker":"Victor Lagos","startTime":2353.32,"endTime":2356.71,"body":"But they don't really hone in on"},{"speaker":"Victor Lagos","startTime":2356.71,"endTime":2360.85,"body":"that one thing that's going to"},{"speaker":"Victor Lagos","startTime":2356.71,"endTime":2360.85,"body":"change everything they master"},{"speaker":"Victor Lagos","startTime":2360.85,"endTime":2363.19,"body":"that, then everything else"},{"speaker":"Victor Lagos","startTime":2360.85,"endTime":2363.19,"body":"becomes easier."},{"speaker":"Philip Khao","startTime":2363.25,"endTime":2365.44,"body":"Yeah, I'm not gonna"},{"speaker":"Philip Khao","startTime":2363.25,"endTime":2365.44,"body":"lie. I was lucky that I would"},{"speaker":"Philip Khao","startTime":2366.73,"endTime":2370.12,"body":"hear about an ID in the"},{"speaker":"Philip Khao","startTime":2366.73,"endTime":2370.12,"body":"automated look into this. And"},{"speaker":"Philip Khao","startTime":2370.27,"endTime":2373.99,"body":"then we look into that. But then"},{"speaker":"Philip Khao","startTime":2370.27,"endTime":2373.99,"body":"I just thought, when I look back"},{"speaker":"Philip Khao","startTime":2373.99,"endTime":2378.31,"body":"over the last year, I'm like, No"},{"speaker":"Philip Khao","startTime":2373.99,"endTime":2378.31,"body":"way like I achieved nothing, or"},{"speaker":"Philip Khao","startTime":2378.31,"endTime":2381.25,"body":"archieved something but not well"},{"speaker":"Philip Khao","startTime":2378.31,"endTime":2381.25,"body":"wanted to go. Alright, so"},{"speaker":"Philip Khao","startTime":2382.12,"endTime":2385.36,"body":"definitely plan ahead and"},{"speaker":"Philip Khao","startTime":2382.12,"endTime":2385.36,"body":"focusing"},{"speaker":"Victor Lagos","startTime":2385.72,"endTime":2387.43,"body":"and having that"},{"speaker":"Victor Lagos","startTime":2385.72,"endTime":2387.43,"body":"target that goal that you're"},{"speaker":"Victor Lagos","startTime":2387.43,"endTime":2391.66,"body":"working towards. It keeps you"},{"speaker":"Victor Lagos","startTime":2387.43,"endTime":2391.66,"body":"focused on what's important. So"},{"speaker":"Victor Lagos","startTime":2391.66,"endTime":2397.09,"body":"if you're doing a lot of things,"},{"speaker":"Victor Lagos","startTime":2391.66,"endTime":2397.09,"body":"and then you analyze saying is"},{"speaker":"Victor Lagos","startTime":2397.09,"endTime":2401.08,"body":"that actually bringing me closer"},{"speaker":"Victor Lagos","startTime":2397.09,"endTime":2401.08,"body":"to that target And that goal, or"},{"speaker":"Victor Lagos","startTime":2401.08,"endTime":2405.22,"body":"is it very meat away from it."},{"speaker":"Victor Lagos","startTime":2401.08,"endTime":2405.22,"body":"And if it's bringing you away,"},{"speaker":"Victor Lagos","startTime":2405.52,"endTime":2410.08,"body":"then you can call it you can,"},{"speaker":"Victor Lagos","startTime":2405.52,"endTime":2410.08,"body":"you know, put it on hold, you"},{"speaker":"Victor Lagos","startTime":2410.08,"endTime":2413.44,"body":"know, for your spare time if you"},{"speaker":"Victor Lagos","startTime":2410.08,"endTime":2413.44,"body":"have any, and then focus in on"},{"speaker":"Victor Lagos","startTime":2413.44,"endTime":2418.09,"body":"what's more important, and get"},{"speaker":"Victor Lagos","startTime":2413.44,"endTime":2418.09,"body":"it to that goal. And then by"},{"speaker":"Victor Lagos","startTime":2418.09,"endTime":2421.6,"body":"working with someone like"},{"speaker":"Victor Lagos","startTime":2418.09,"endTime":2421.6,"body":"yourself, you can sit down in"},{"speaker":"Victor Lagos","startTime":2421.6,"endTime":2424.42,"body":"six months time and say,"},{"speaker":"Victor Lagos","startTime":2421.6,"endTime":2424.42,"body":"Alright, this was the goal that"},{"speaker":"Victor Lagos","startTime":2424.42,"endTime":2430.36,"body":"I said, Where am I now? Did the"},{"speaker":"Victor Lagos","startTime":2424.42,"endTime":2430.36,"body":"actions I took bring me closer"},{"speaker":"Victor Lagos","startTime":2430.36,"endTime":2434.26,"body":"to it? Did I exceed those goals"},{"speaker":"Victor Lagos","startTime":2430.36,"endTime":2434.26,"body":"wanted to raise the bar? Or was"},{"speaker":"Victor Lagos","startTime":2434.26,"endTime":2438.04,"body":"I, you know, way off the mark?"},{"speaker":"Victor Lagos","startTime":2434.26,"endTime":2438.04,"body":"And if I was, what were the"},{"speaker":"Victor Lagos","startTime":2438.04,"endTime":2441.49,"body":"actions I took, that didn't"},{"speaker":"Victor Lagos","startTime":2438.04,"endTime":2441.49,"body":"allow me to get there? And what"},{"speaker":"Victor Lagos","startTime":2441.49,"endTime":2444.58,"body":"actions can I take for the next"},{"speaker":"Victor Lagos","startTime":2441.49,"endTime":2444.58,"body":"six months that will allow me to"},{"speaker":"Victor Lagos","startTime":2444.58,"endTime":2448.99,"body":"get there, or reduce that, I"},{"speaker":"Victor Lagos","startTime":2444.58,"endTime":2448.99,"body":"guess, at Target write something"},{"speaker":"Victor Lagos","startTime":2448.99,"endTime":2451.81,"body":"more realistic, because if it's"},{"speaker":"Victor Lagos","startTime":2448.99,"endTime":2451.81,"body":"too far, you don't end up"},{"speaker":"Victor Lagos","startTime":2451.81,"endTime":2454.12,"body":"working at all? Because it's"},{"speaker":"Victor Lagos","startTime":2451.81,"endTime":2454.12,"body":"like it feels impossible to do."},{"speaker":"Victor Lagos","startTime":2454.54,"endTime":2456.94,"body":"So it's got to be a little bit"},{"speaker":"Victor Lagos","startTime":2454.54,"endTime":2456.94,"body":"outside your comfort threshold,"},{"speaker":"Victor Lagos","startTime":2457.21,"endTime":2459.34,"body":"but not too far out that you"},{"speaker":"Victor Lagos","startTime":2457.21,"endTime":2459.34,"body":"just tell yourself, it's"},{"speaker":"Victor Lagos","startTime":2459.34,"endTime":2460.09,"body":"impossible, right?"},{"speaker":"Philip Khao","startTime":2460.69,"endTime":2462.67,"body":"Yeah, that's Ryan."},{"speaker":"Philip Khao","startTime":2460.69,"endTime":2462.67,"body":"And look, if you have a goal,"},{"speaker":"Philip Khao","startTime":2463.06,"endTime":2465.64,"body":"you need to have a plan. And if"},{"speaker":"Philip Khao","startTime":2463.06,"endTime":2465.64,"body":"you don't have a plan, then you"},{"speaker":"Philip Khao","startTime":2465.85,"endTime":2469.0,"body":"you've got no direction. You"},{"speaker":"Philip Khao","startTime":2465.85,"endTime":2469.0,"body":"just kind of aimlessly trying to"},{"speaker":"Philip Khao","startTime":2469.0,"endTime":2471.94,"body":"do these things to try and get"},{"speaker":"Philip Khao","startTime":2469.0,"endTime":2471.94,"body":"there. And as you say, you need"},{"speaker":"Philip Khao","startTime":2471.97,"endTime":2476.11,"body":"to hold yourself accountable."},{"speaker":"Philip Khao","startTime":2471.97,"endTime":2476.11,"body":"And if you can't ask for help"},{"speaker":"Philip Khao","startTime":2476.14,"endTime":2479.02,"body":"seek someone else to hold you"},{"speaker":"Philip Khao","startTime":2476.14,"endTime":2479.02,"body":"accountable. Otherwise, you're"},{"speaker":"Philip Khao","startTime":2479.02,"endTime":2480.1,"body":"not going to make the progress."},{"speaker":"Victor Lagos","startTime":2480.22,"endTime":2481.57,"body":"You mentioned"},{"speaker":"Victor Lagos","startTime":2480.22,"endTime":2481.57,"body":"before that your business"},{"speaker":"Victor Lagos","startTime":2481.57,"endTime":2485.89,"body":"partner was your mentor. I"},{"speaker":"Victor Lagos","startTime":2481.57,"endTime":2485.89,"body":"didn't know that. So would you"},{"speaker":"Victor Lagos","startTime":2485.92,"endTime":2491.29,"body":"say that having a mentor early"},{"speaker":"Victor Lagos","startTime":2485.92,"endTime":2491.29,"body":"on was a key part of your"},{"speaker":"Victor Lagos","startTime":2491.29,"endTime":2491.89,"body":"success?"},{"speaker":"Philip Khao","startTime":2493.12,"endTime":2495.91,"body":"Yeah, what I would"},{"speaker":"Philip Khao","startTime":2493.12,"endTime":2495.91,"body":"say is, I think most of us go"},{"speaker":"Philip Khao","startTime":2495.91,"endTime":2498.82,"body":"through when we're working,"},{"speaker":"Philip Khao","startTime":2495.91,"endTime":2498.82,"body":"especially in corporate, or"},{"speaker":"Philip Khao","startTime":2498.82,"endTime":2501.79,"body":"maybe even as a trainee, or"},{"speaker":"Philip Khao","startTime":2498.82,"endTime":2501.79,"body":"whatever it is, if you're"},{"speaker":"Philip Khao","startTime":2501.79,"endTime":2505.09,"body":"working in a bigger company with"},{"speaker":"Philip Khao","startTime":2501.79,"endTime":2505.09,"body":"a lot of people, you generally"},{"speaker":"Philip Khao","startTime":2505.09,"endTime":2509.08,"body":"do have that senior that mentor"},{"speaker":"Philip Khao","startTime":2505.09,"endTime":2509.08,"body":"that you would always refer to."},{"speaker":"Philip Khao","startTime":2510.1,"endTime":2514.81,"body":"So I would say, like later,"},{"speaker":"Philip Khao","startTime":2510.1,"endTime":2514.81,"body":"later down the track, when I got"},{"speaker":"Philip Khao","startTime":2514.81,"endTime":2517.75,"body":"out of this, when I got into"},{"speaker":"Philip Khao","startTime":2514.81,"endTime":2517.75,"body":"business by myself, and Chris"},{"speaker":"Philip Khao","startTime":2517.75,"endTime":2523.3,"body":"was there definitely helped make"},{"speaker":"Philip Khao","startTime":2517.75,"endTime":2523.3,"body":"me who I am today. But you know,"},{"speaker":"Philip Khao","startTime":2523.45,"endTime":2529.09,"body":"over the, over a couple of years"},{"speaker":"Philip Khao","startTime":2523.45,"endTime":2529.09,"body":"that over the first two years"},{"speaker":"Philip Khao","startTime":2529.09,"endTime":2532.48,"body":"where I was working with him,"},{"speaker":"Philip Khao","startTime":2529.09,"endTime":2532.48,"body":"and you know, using him as a"},{"speaker":"Philip Khao","startTime":2532.48,"endTime":2537.01,"body":"mentor, I learned a lot from"},{"speaker":"Philip Khao","startTime":2532.48,"endTime":2537.01,"body":"him. But then, you know, I kind"},{"speaker":"Philip Khao","startTime":2537.01,"endTime":2540.97,"body":"of then started doing my own"},{"speaker":"Philip Khao","startTime":2537.01,"endTime":2540.97,"body":"thing. And focus on business"},{"speaker":"Philip Khao","startTime":2540.97,"endTime":2544.36,"body":"advisory and he was more tax, so"},{"speaker":"Philip Khao","startTime":2540.97,"endTime":2544.36,"body":"I couldn't really go back to him"},{"speaker":"Philip Khao","startTime":2544.36,"endTime":2550.42,"body":"on business advisory stuff. So I"},{"speaker":"Philip Khao","startTime":2544.36,"endTime":2550.42,"body":"think it's important as a"},{"speaker":"Philip Khao","startTime":2550.45,"endTime":2552.46,"body":"business owner, if you're"},{"speaker":"Philip Khao","startTime":2550.45,"endTime":2552.46,"body":"operating on your own, it's"},{"speaker":"Philip Khao","startTime":2552.46,"endTime":2555.79,"body":"important to have that mentor."},{"speaker":"Philip Khao","startTime":2552.46,"endTime":2555.79,"body":"And that's why I decided to sign"},{"speaker":"Philip Khao","startTime":2555.79,"endTime":2559.09,"body":"up with a business coach to work"},{"speaker":"Philip Khao","startTime":2555.79,"endTime":2559.09,"body":"with them. Work with someone"},{"speaker":"Philip Khao","startTime":2559.09,"endTime":2563.56,"body":"that's done it before, and be"},{"speaker":"Philip Khao","startTime":2559.09,"endTime":2563.56,"body":"able to pick their brain. And"},{"speaker":"Philip Khao","startTime":2563.56,"endTime":2566.17,"body":"you know, my first conversation"},{"speaker":"Philip Khao","startTime":2563.56,"endTime":2566.17,"body":"with the business coach was"},{"speaker":"Philip Khao","startTime":2566.8,"endTime":2570.25,"body":"enlightening, because all the"},{"speaker":"Philip Khao","startTime":2566.8,"endTime":2570.25,"body":"things he was saying was what I"},{"speaker":"Philip Khao","startTime":2570.25,"endTime":2573.01,"body":"was thinking. But I couldn't say"},{"speaker":"Philip Khao","startTime":2570.25,"endTime":2573.01,"body":"that to Chris, because Chris"},{"speaker":"Philip Khao","startTime":2573.01,"endTime":2576.82,"body":"wouldn't get it. He just thinks"},{"speaker":"Philip Khao","startTime":2573.01,"endTime":2576.82,"body":"about tax all the time. And so"},{"speaker":"Philip Khao","startTime":2576.82,"endTime":2582.64,"body":"it was it was I was really very"},{"speaker":"Philip Khao","startTime":2576.82,"endTime":2582.64,"body":"happy to have that in place."},{"speaker":"Philip Khao","startTime":2582.94,"endTime":2588.31,"body":"Just because I can now refer or"},{"speaker":"Philip Khao","startTime":2582.94,"endTime":2588.31,"body":"downside of these and be able to"},{"speaker":"Philip Khao","startTime":2588.31,"endTime":2594.34,"body":"build what I want to do with all"},{"speaker":"Philip Khao","startTime":2588.31,"endTime":2594.34,"body":"the things in my mind thinking I"},{"speaker":"Philip Khao","startTime":2594.34,"endTime":2596.47,"body":"could have done this for myself,"},{"speaker":"Philip Khao","startTime":2594.34,"endTime":2596.47,"body":"but it would have taken me two"},{"speaker":"Philip Khao","startTime":2596.47,"endTime":2599.17,"body":"years because I've got to do all"},{"speaker":"Philip Khao","startTime":2596.47,"endTime":2599.17,"body":"the tests and trials before"},{"speaker":"Philip Khao","startTime":2599.17,"endTime":2602.92,"body":"getting there. But with him in"},{"speaker":"Philip Khao","startTime":2599.17,"endTime":2602.92,"body":"place, it's it's definitely, I'm"},{"speaker":"Philip Khao","startTime":2602.92,"endTime":2605.56,"body":"definitely getting there"},{"speaker":"Philip Khao","startTime":2602.92,"endTime":2605.56,"body":"quicker. So having a mentor in"},{"speaker":"Philip Khao","startTime":2605.56,"endTime":2609.16,"body":"place with you, you're asking"},{"speaker":"Philip Khao","startTime":2605.56,"endTime":2609.16,"body":"for help is important."},{"speaker":"Victor Lagos","startTime":2609.64,"endTime":2613.21,"body":"Yeah, I think it's"},{"speaker":"Victor Lagos","startTime":2609.64,"endTime":2613.21,"body":"for the audience that are"},{"speaker":"Victor Lagos","startTime":2613.21,"endTime":2616.18,"body":"listening, I think it's"},{"speaker":"Victor Lagos","startTime":2613.21,"endTime":2616.18,"body":"important that you, you really"},{"speaker":"Victor Lagos","startTime":2616.24,"endTime":2620.02,"body":"hone in on what Phil just said"},{"speaker":"Victor Lagos","startTime":2616.24,"endTime":2620.02,"body":"there, which is having a mentor,"},{"speaker":"Victor Lagos","startTime":2620.35,"endTime":2623.47,"body":"but also investing in a business"},{"speaker":"Victor Lagos","startTime":2620.35,"endTime":2623.47,"body":"coach, they're two different"},{"speaker":"Victor Lagos","startTime":2623.47,"endTime":2626.5,"body":"things. Some people think a"},{"speaker":"Victor Lagos","startTime":2623.47,"endTime":2626.5,"body":"mentor, and a coach are"},{"speaker":"Victor Lagos","startTime":2626.65,"endTime":2630.34,"body":"interchangeable. But a mentor"},{"speaker":"Victor Lagos","startTime":2626.65,"endTime":2630.34,"body":"usually doesn't charge you,"},{"speaker":"Victor Lagos","startTime":2630.67,"endTime":2633.43,"body":"right, there's someone that you"},{"speaker":"Victor Lagos","startTime":2630.67,"endTime":2633.43,"body":"look up to someone that can give"},{"speaker":"Victor Lagos","startTime":2633.43,"endTime":2637.06,"body":"you advice in their particular"},{"speaker":"Victor Lagos","startTime":2633.43,"endTime":2637.06,"body":"field, they may not know how to"},{"speaker":"Victor Lagos","startTime":2637.09,"endTime":2639.04,"body":"operate and run a business, but"},{"speaker":"Victor Lagos","startTime":2637.09,"endTime":2639.04,"body":"they may be good at their"},{"speaker":"Victor Lagos","startTime":2639.04,"endTime":2642.13,"body":"particular skill. And that might"},{"speaker":"Victor Lagos","startTime":2639.04,"endTime":2642.13,"body":"be the profession that you're"},{"speaker":"Victor Lagos","startTime":2642.13,"endTime":2647.56,"body":"trained in a coach a business"},{"speaker":"Victor Lagos","startTime":2642.13,"endTime":2647.56,"body":"coach doesn't really have, they"},{"speaker":"Victor Lagos","startTime":2647.56,"endTime":2651.19,"body":"may not even know your industry."},{"speaker":"Victor Lagos","startTime":2647.56,"endTime":2651.19,"body":"They may they may not. But what"},{"speaker":"Victor Lagos","startTime":2651.4,"endTime":2656.17,"body":"they should know is how to"},{"speaker":"Victor Lagos","startTime":2651.4,"endTime":2656.17,"body":"operate a business, and how to"},{"speaker":"Victor Lagos","startTime":2656.17,"endTime":2660.94,"body":"look at your business and create"},{"speaker":"Victor Lagos","startTime":2656.17,"endTime":2660.94,"body":"a pathway for you. So with"},{"speaker":"Victor Lagos","startTime":2660.94,"endTime":2663.97,"body":"business advisory, it's a little"},{"speaker":"Victor Lagos","startTime":2660.94,"endTime":2663.97,"body":"bit of coaching, but it's more"},{"speaker":"Victor Lagos","startTime":2663.97,"endTime":2667.09,"body":"around the numbers and the"},{"speaker":"Victor Lagos","startTime":2663.97,"endTime":2667.09,"body":"strategy on getting there as"},{"speaker":"Victor Lagos","startTime":2667.09,"endTime":2670.78,"body":"opposed to what would you say"},{"speaker":"Victor Lagos","startTime":2667.09,"endTime":2670.78,"body":"like it's not? Yeah,"},{"speaker":"Philip Khao","startTime":2671.53,"endTime":2673.51,"body":"I guess the"},{"speaker":"Philip Khao","startTime":2671.53,"endTime":2673.51,"body":"difference between a business"},{"speaker":"Philip Khao","startTime":2673.51,"endTime":2678.34,"body":"advisor and a coach is the coach"},{"speaker":"Philip Khao","startTime":2673.51,"endTime":2678.34,"body":"will tell you what to do. But"},{"speaker":"Philip Khao","startTime":2678.34,"endTime":2683.2,"body":"the business advisor will help"},{"speaker":"Philip Khao","startTime":2678.34,"endTime":2683.2,"body":"you do what they tell you."},{"speaker":"Philip Khao","startTime":2683.2,"endTime":2685.93,"body":"Right. So I'm a bit more I would"},{"speaker":"Philip Khao","startTime":2683.2,"endTime":2685.93,"body":"you would say I'm a bit more"},{"speaker":"Philip Khao","startTime":2685.93,"endTime":2689.92,"body":"hands on. I do. Get stuck in in"},{"speaker":"Philip Khao","startTime":2685.93,"endTime":2689.92,"body":"do a bit of the work with the"},{"speaker":"Philip Khao","startTime":2689.92,"endTime":2693.28,"body":"client, help them implement"},{"speaker":"Philip Khao","startTime":2689.92,"endTime":2693.28,"body":"things, help them, talk to them"},{"speaker":"Philip Khao","startTime":2693.28,"endTime":2697.09,"body":"about you know, their numbers,"},{"speaker":"Philip Khao","startTime":2693.28,"endTime":2697.09,"body":"their performance and then going"},{"speaker":"Philip Khao","startTime":2697.09,"endTime":2700.18,"body":"Okay, well let's implement this"},{"speaker":"Philip Khao","startTime":2697.09,"endTime":2700.18,"body":"and show them and do some work"},{"speaker":"Philip Khao","startTime":2700.18,"endTime":2704.2,"body":"for them. So it's working with"},{"speaker":"Philip Khao","startTime":2700.18,"endTime":2704.2,"body":"that business owner. Whereas the"},{"speaker":"Philip Khao","startTime":2704.2,"endTime":2708.01,"body":"coach is more, I guess, teaching"},{"speaker":"Philip Khao","startTime":2704.2,"endTime":2708.01,"body":"you how to do things."},{"speaker":"Victor Lagos","startTime":2708.28,"endTime":2710.47,"body":"No, no, you know"},{"speaker":"Victor Lagos","startTime":2708.28,"endTime":2710.47,"body":"what I want to share something"},{"speaker":"Victor Lagos","startTime":2710.65,"endTime":2714.34,"body":"now that you, you sort of broke"},{"speaker":"Victor Lagos","startTime":2710.65,"endTime":2714.34,"body":"down the differences. A lot of"},{"speaker":"Victor Lagos","startTime":2714.34,"endTime":2718.48,"body":"people out there, they, and I"},{"speaker":"Victor Lagos","startTime":2714.34,"endTime":2718.48,"body":"was in the same position where I"},{"speaker":"Victor Lagos","startTime":2718.48,"endTime":2721.78,"body":"started business. And this is"},{"speaker":"Victor Lagos","startTime":2718.48,"endTime":2721.78,"body":"not my current company, when I"},{"speaker":"Victor Lagos","startTime":2721.78,"endTime":2726.58,"body":"started in 2016, I invested into"},{"speaker":"Victor Lagos","startTime":2721.78,"endTime":2726.58,"body":"coaching programs, right"},{"speaker":"Victor Lagos","startTime":2726.91,"endTime":2731.32,"body":"courses, and the content is"},{"speaker":"Victor Lagos","startTime":2726.91,"endTime":2731.32,"body":"great. They usually put you in a"},{"speaker":"Victor Lagos","startTime":2731.32,"endTime":2733.93,"body":"program, whether it's a few"},{"speaker":"Victor Lagos","startTime":2731.32,"endTime":2733.93,"body":"months, or sometimes it can be a"},{"speaker":"Victor Lagos","startTime":2733.93,"endTime":2736.54,"body":"year, but you're committed to it"},{"speaker":"Victor Lagos","startTime":2733.93,"endTime":2736.54,"body":"financially. And you're"},{"speaker":"Victor Lagos","startTime":2736.54,"endTime":2740.2,"body":"committed to it, where you, you"},{"speaker":"Victor Lagos","startTime":2736.54,"endTime":2740.2,"body":"turn up and you learn the"},{"speaker":"Victor Lagos","startTime":2740.2,"endTime":2742.54,"body":"content. And you know, there"},{"speaker":"Victor Lagos","startTime":2740.2,"endTime":2742.54,"body":"might be some exercises that you"},{"speaker":"Victor Lagos","startTime":2742.54,"endTime":2745.66,"body":"do, but you don't really apply"},{"speaker":"Victor Lagos","startTime":2742.54,"endTime":2745.66,"body":"it in your business, because the"},{"speaker":"Victor Lagos","startTime":2745.66,"endTime":2748.36,"body":"stuff you're learning may be too"},{"speaker":"Victor Lagos","startTime":2745.66,"endTime":2748.36,"body":"advanced compared to where your"},{"speaker":"Victor Lagos","startTime":2748.36,"endTime":2751.3,"body":"business is up to. So it's all"},{"speaker":"Victor Lagos","startTime":2748.36,"endTime":2751.3,"body":"knowledge. So you're just adding"},{"speaker":"Victor Lagos","startTime":2751.3,"endTime":2755.47,"body":"in all this information. But the"},{"speaker":"Victor Lagos","startTime":2751.3,"endTime":2755.47,"body":"execution is the most important"},{"speaker":"Victor Lagos","startTime":2755.47,"endTime":2759.85,"body":"piece, because they say"},{"speaker":"Victor Lagos","startTime":2755.47,"endTime":2759.85,"body":"knowledge is power. But"},{"speaker":"Victor Lagos","startTime":2760.9,"endTime":2764.05,"body":"knowledge that isn't applied"},{"speaker":"Victor Lagos","startTime":2760.9,"endTime":2764.05,"body":"doesn't do anything. It's really"},{"speaker":"Victor Lagos","startTime":2764.05,"endTime":2768.4,"body":"nice action need action."},{"speaker":"Victor Lagos","startTime":2764.05,"endTime":2768.4,"body":"Exactly. So the reason I"},{"speaker":"Victor Lagos","startTime":2768.4,"endTime":2772.03,"body":"mentioned that is because this"},{"speaker":"Victor Lagos","startTime":2768.4,"endTime":2772.03,"body":"time around, it was more around"},{"speaker":"Victor Lagos","startTime":2772.03,"endTime":2774.61,"body":"the action rather than, you"},{"speaker":"Victor Lagos","startTime":2772.03,"endTime":2774.61,"body":"know, gaining more knowledge."},{"speaker":"Victor Lagos","startTime":2774.64,"endTime":2778.93,"body":"And by working with a business"},{"speaker":"Victor Lagos","startTime":2774.64,"endTime":2778.93,"body":"coach, yes, told me what to do."},{"speaker":"Victor Lagos","startTime":2778.99,"endTime":2781.66,"body":"But it was up to me to do it. So"},{"speaker":"Victor Lagos","startTime":2778.99,"endTime":2781.66,"body":"it'll keep me accountable."},{"speaker":"Victor Lagos","startTime":2782.32,"endTime":2785.62,"body":"Working with you, Phil, in the"},{"speaker":"Victor Lagos","startTime":2782.32,"endTime":2785.62,"body":"beginning, you did the numbers,"},{"speaker":"Victor Lagos","startTime":2785.62,"endTime":2788.23,"body":"you plugged it out for me, like"},{"speaker":"Victor Lagos","startTime":2785.62,"endTime":2788.23,"body":"if I had to build that"},{"speaker":"Victor Lagos","startTime":2788.23,"endTime":2790.54,"body":"spreadsheet that you put"},{"speaker":"Victor Lagos","startTime":2788.23,"endTime":2790.54,"body":"together for me would have taken"},{"speaker":"Victor Lagos","startTime":2790.54,"endTime":2793.39,"body":"me hours. And it wouldn't have"},{"speaker":"Victor Lagos","startTime":2790.54,"endTime":2793.39,"body":"even been close to what you put"},{"speaker":"Victor Lagos","startTime":2793.39,"endTime":2796.09,"body":"together. It's because it's what"},{"speaker":"Victor Lagos","startTime":2793.39,"endTime":2796.09,"body":"you do day in day out. So you"},{"speaker":"Victor Lagos","startTime":2796.09,"endTime":2800.83,"body":"understand it. So yes, you have"},{"speaker":"Victor Lagos","startTime":2796.09,"endTime":2800.83,"body":"to pay for this service. But if"},{"speaker":"Victor Lagos","startTime":2800.83,"endTime":2805.33,"body":"it's doing work that you don't"},{"speaker":"Victor Lagos","startTime":2800.83,"endTime":2805.33,"body":"know how to do, and it's higher"},{"speaker":"Victor Lagos","startTime":2805.33,"endTime":2807.28,"body":"level, and it's going to"},{"speaker":"Victor Lagos","startTime":2805.33,"endTime":2807.28,"body":"actually allow you to achieve"},{"speaker":"Victor Lagos","startTime":2807.28,"endTime":2810.52,"body":"your goals. Well, that's a good"},{"speaker":"Victor Lagos","startTime":2807.28,"endTime":2810.52,"body":"investment. But if you're just"},{"speaker":"Victor Lagos","startTime":2810.91,"endTime":2814.09,"body":"investing into courses or"},{"speaker":"Victor Lagos","startTime":2810.91,"endTime":2814.09,"body":"knowledge, what that can"},{"speaker":"Victor Lagos","startTime":2814.09,"endTime":2816.28,"body":"actually do for a lot of people."},{"speaker":"Victor Lagos","startTime":2814.09,"endTime":2816.28,"body":"And it did that for me as well"},{"speaker":"Victor Lagos","startTime":2816.49,"endTime":2821.11,"body":"is it gave me more on my to do"},{"speaker":"Victor Lagos","startTime":2816.49,"endTime":2821.11,"body":"list. So it added more mental"},{"speaker":"Victor Lagos","startTime":2821.62,"endTime":2824.29,"body":"baggage. So it creates more"},{"speaker":"Victor Lagos","startTime":2821.62,"endTime":2824.29,"body":"pressure, it's like, oh, now I"},{"speaker":"Victor Lagos","startTime":2824.29,"endTime":2827.29,"body":"gotta do that too. And you still"},{"speaker":"Victor Lagos","startTime":2824.29,"endTime":2827.29,"body":"got to do your day to day. So"},{"speaker":"Victor Lagos","startTime":2827.29,"endTime":2829.75,"body":"it's always good, I think to use"},{"speaker":"Victor Lagos","startTime":2827.29,"endTime":2829.75,"body":"a business advisor that will"},{"speaker":"Victor Lagos","startTime":2829.75,"endTime":2830.98,"body":"actually execute,"},{"speaker":"Philip Khao","startTime":2831.46,"endTime":2835.9,"body":"you use the right"},{"speaker":"Philip Khao","startTime":2831.46,"endTime":2835.9,"body":"word investment versus cost."},{"speaker":"Philip Khao","startTime":2836.44,"endTime":2842.68,"body":"Some people see, you know, coach"},{"speaker":"Philip Khao","startTime":2836.44,"endTime":2842.68,"body":"or a marketing person or an IT"},{"speaker":"Philip Khao","startTime":2842.68,"endTime":2847.57,"body":"person or an accountant as a"},{"speaker":"Philip Khao","startTime":2842.68,"endTime":2847.57,"body":"cost. But they should think"},{"speaker":"Philip Khao","startTime":2847.57,"endTime":2849.79,"body":"about it as an investment in"},{"speaker":"Philip Khao","startTime":2847.57,"endTime":2849.79,"body":"their business, because it's"},{"speaker":"Philip Khao","startTime":2849.79,"endTime":2853.03,"body":"going to free up their time to"},{"speaker":"Philip Khao","startTime":2849.79,"endTime":2853.03,"body":"do other things, and not working"},{"speaker":"Philip Khao","startTime":2853.03,"endTime":2856.09,"body":"the business but you know, work"},{"speaker":"Philip Khao","startTime":2853.03,"endTime":2856.09,"body":"on it, so that they can build it"},{"speaker":"Philip Khao","startTime":2856.09,"endTime":2859.9,"body":"to a point where they can step"},{"speaker":"Philip Khao","startTime":2856.09,"endTime":2859.9,"body":"out. Right? So the right word"},{"speaker":"Philip Khao","startTime":2859.93,"endTime":2860.47,"body":"investment."},{"speaker":"Victor Lagos","startTime":2860.499,"endTime":2862.539,"body":"Now, I love that"},{"speaker":"Victor Lagos","startTime":2860.499,"endTime":2862.539,"body":"you touched on that. Because"},{"speaker":"Victor Lagos","startTime":2862.599,"endTime":2866.799,"body":"sometimes people think about"},{"speaker":"Victor Lagos","startTime":2862.599,"endTime":2866.799,"body":"business, and they don't realize"},{"speaker":"Victor Lagos","startTime":2866.799,"endTime":2873.399,"body":"how powerful it is when you have"},{"speaker":"Victor Lagos","startTime":2866.799,"endTime":2873.399,"body":"access to revenue before tax. So"},{"speaker":"Victor Lagos","startTime":2873.819,"endTime":2877.359,"body":"give you an example. If you're"},{"speaker":"Victor Lagos","startTime":2873.819,"endTime":2877.359,"body":"earning say 200 grand a year, at"},{"speaker":"Victor Lagos","startTime":2877.359,"endTime":2882.549,"body":"your job, gross before tax, what"},{"speaker":"Victor Lagos","startTime":2877.359,"endTime":2882.549,"body":"would you get after tax 120,"},{"speaker":"Victor Lagos","startTime":2882.549,"endTime":2887.739,"body":"maybe or less than, yes, you get"},{"speaker":"Victor Lagos","startTime":2882.549,"endTime":2887.739,"body":"120 grand, then, if you want to"},{"speaker":"Victor Lagos","startTime":2887.739,"endTime":2891.429,"body":"invest into professional"},{"speaker":"Victor Lagos","startTime":2887.739,"endTime":2891.429,"body":"development, or personal"},{"speaker":"Victor Lagos","startTime":2891.429,"endTime":2894.429,"body":"development, things that's"},{"speaker":"Victor Lagos","startTime":2891.429,"endTime":2894.429,"body":"gonna, you know, the highest"},{"speaker":"Victor Lagos","startTime":2894.609,"endTime":2898.779,"body":"high value skills that are gonna"},{"speaker":"Victor Lagos","startTime":2894.609,"endTime":2898.779,"body":"allow you to earn more, or allow"},{"speaker":"Victor Lagos","startTime":2898.779,"endTime":2903.639,"body":"you to get time back later, you"},{"speaker":"Victor Lagos","startTime":2898.779,"endTime":2903.639,"body":"now need to justify to the tax"},{"speaker":"Victor Lagos","startTime":2903.639,"endTime":2908.919,"body":"office that that was required"},{"speaker":"Victor Lagos","startTime":2903.639,"endTime":2908.919,"body":"for you to do your job. So you"},{"speaker":"Victor Lagos","startTime":2908.919,"endTime":2912.729,"body":"can justify that you're still"},{"speaker":"Victor Lagos","startTime":2908.919,"endTime":2912.729,"body":"using the 120 Grand to spend on"},{"speaker":"Victor Lagos","startTime":2912.729,"endTime":2915.099,"body":"it. And then you're trying to"},{"speaker":"Victor Lagos","startTime":2912.729,"endTime":2915.099,"body":"get the money back after tax"},{"speaker":"Victor Lagos","startTime":2915.099,"endTime":2918.249,"body":"right and your tax return. But"},{"speaker":"Victor Lagos","startTime":2915.099,"endTime":2918.249,"body":"you've only got access to 120,"},{"speaker":"Victor Lagos","startTime":2918.279,"endTime":2921.219,"body":"not 200 You still got to pay"},{"speaker":"Victor Lagos","startTime":2918.279,"endTime":2921.219,"body":"your mortgage or your rent and"},{"speaker":"Victor Lagos","startTime":2921.219,"endTime":2923.439,"body":"all the other expenses and see"},{"speaker":"Victor Lagos","startTime":2921.219,"endTime":2923.439,"body":"Do you have anything left to"},{"speaker":"Victor Lagos","startTime":2923.439,"endTime":2927.609,"body":"cover that cost to invest in"},{"speaker":"Victor Lagos","startTime":2923.439,"endTime":2927.609,"body":"your future? Well, on the flip"},{"speaker":"Victor Lagos","startTime":2927.609,"endTime":2931.599,"body":"side, if you're self employed,"},{"speaker":"Victor Lagos","startTime":2927.609,"endTime":2931.599,"body":"you're making 200 grand first."},{"speaker":"Victor Lagos","startTime":2931.929,"endTime":2934.959,"body":"So now you can invest that 80"},{"speaker":"Victor Lagos","startTime":2931.929,"endTime":2934.959,"body":"grand that you would have spent"},{"speaker":"Victor Lagos","startTime":2934.959,"endTime":2939.369,"body":"in tax earlier on these"},{"speaker":"Victor Lagos","startTime":2934.959,"endTime":2939.369,"body":"expenses. Investments, I should"},{"speaker":"Victor Lagos","startTime":2939.369,"endTime":2941.799,"body":"say, that's gonna give you more"},{"speaker":"Victor Lagos","startTime":2939.369,"endTime":2941.799,"body":"time it's giving you more"},{"speaker":"Victor Lagos","startTime":2941.799,"endTime":2945.519,"body":"development, allow you to, you"},{"speaker":"Victor Lagos","startTime":2941.799,"endTime":2945.519,"body":"know, upskill yourself that you"},{"speaker":"Victor Lagos","startTime":2945.519,"endTime":2950.679,"body":"can earn more. And all of this"},{"speaker":"Victor Lagos","startTime":2945.519,"endTime":2950.679,"body":"is tax free expenses. So it's"},{"speaker":"Victor Lagos","startTime":2950.679,"endTime":2953.949,"body":"like people don't see it that"},{"speaker":"Victor Lagos","startTime":2950.679,"endTime":2953.949,"body":"way. They're stuck in this, you"},{"speaker":"Victor Lagos","startTime":2953.949,"endTime":2957.249,"body":"know, it's a cost or whatever."},{"speaker":"Victor Lagos","startTime":2953.949,"endTime":2957.249,"body":"But that's that's a lot more"},{"speaker":"Victor Lagos","startTime":2958.119,"endTime":2961.029,"body":"accessible money that you have,"},{"speaker":"Victor Lagos","startTime":2958.119,"endTime":2961.029,"body":"which is a legal tax deduction"},{"speaker":"Victor Lagos","startTime":2961.029,"endTime":2962.979,"body":"you're allowed to you're"},{"speaker":"Victor Lagos","startTime":2961.029,"endTime":2962.979,"body":"supposed to, because that's"},{"speaker":"Victor Lagos","startTime":2962.979,"endTime":2965.439,"body":"gonna allow you to earn more"},{"speaker":"Victor Lagos","startTime":2962.979,"endTime":2965.439,"body":"later. And then the taxman gets"},{"speaker":"Victor Lagos","startTime":2965.439,"endTime":2967.329,"body":"paid at the end, rather than"},{"speaker":"Victor Lagos","startTime":2965.439,"endTime":2967.329,"body":"first."},{"speaker":"Philip Khao","startTime":2967.42,"endTime":2969.43,"body":"Yeah, that's right."},{"speaker":"Philip Khao","startTime":2967.42,"endTime":2969.43,"body":"A lot of people don't see the"},{"speaker":"Philip Khao","startTime":2969.43,"endTime":2972.76,"body":"opportunity costs. It's not"},{"speaker":"Philip Khao","startTime":2969.43,"endTime":2972.76,"body":"tangible. But if you really sit"},{"speaker":"Philip Khao","startTime":2972.76,"endTime":2976.72,"body":"down and think about it, you"},{"speaker":"Philip Khao","startTime":2972.76,"endTime":2976.72,"body":"know that $2,000 investment in"},{"speaker":"Philip Khao","startTime":2976.72,"endTime":2980.74,"body":"your business advisor or your"},{"speaker":"Philip Khao","startTime":2976.72,"endTime":2980.74,"body":"marketing team will be worth it"},{"speaker":"Philip Khao","startTime":2980.74,"endTime":2983.92,"body":"because you're not going to see"},{"speaker":"Philip Khao","startTime":2980.74,"endTime":2983.92,"body":"the results now, but that's why"},{"speaker":"Philip Khao","startTime":2983.92,"endTime":2987.67,"body":"it's an investment. You'll see"},{"speaker":"Philip Khao","startTime":2983.92,"endTime":2987.67,"body":"the return later down the track."},{"speaker":"Philip Khao","startTime":2988.0,"endTime":2989.83,"body":"And if you don't, then you know,"},{"speaker":"Philip Khao","startTime":2988.0,"endTime":2989.83,"body":"try and get your money back."},{"speaker":"Victor Lagos","startTime":2991.48,"endTime":2996.67,"body":"Exactly. Alright."},{"speaker":"Victor Lagos","startTime":2991.48,"endTime":2996.67,"body":"So for the people out there, you"},{"speaker":"Victor Lagos","startTime":2996.67,"endTime":2999.46,"body":"know, business owners,"},{"speaker":"Victor Lagos","startTime":2996.67,"endTime":2999.46,"body":"entrepreneurs or even employees"},{"speaker":"Victor Lagos","startTime":2999.46,"endTime":3004.44,"body":"with a sign hustle that, you"},{"speaker":"Victor Lagos","startTime":2999.46,"endTime":3004.44,"body":"know, things that they don't do"},{"speaker":"Victor Lagos","startTime":3004.44,"endTime":3007.53,"body":"straight away. And we touched on"},{"speaker":"Victor Lagos","startTime":3004.44,"endTime":3007.53,"body":"the coaching part, but what do"},{"speaker":"Victor Lagos","startTime":3007.53,"endTime":3010.86,"body":"you think there's some tips that"},{"speaker":"Victor Lagos","startTime":3007.53,"endTime":3010.86,"body":"we can give them that would"},{"speaker":"Victor Lagos","startTime":3010.86,"endTime":3013.68,"body":"actually help them succeed? If"},{"speaker":"Victor Lagos","startTime":3010.86,"endTime":3013.68,"body":"they did it earlier."},{"speaker":"Philip Khao","startTime":3015.45,"endTime":3017.1,"body":"Yeah, I mentioned"},{"speaker":"Philip Khao","startTime":3015.45,"endTime":3017.1,"body":"some of these points already."},{"speaker":"Philip Khao","startTime":3017.1,"endTime":3020.22,"body":"But for those listeners"},{"speaker":"Philip Khao","startTime":3017.1,"endTime":3020.22,"body":"specifically, it's it's"},{"speaker":"Philip Khao","startTime":3020.22,"endTime":3024.39,"body":"understanding their numbers and"},{"speaker":"Philip Khao","startTime":3020.22,"endTime":3024.39,"body":"cashflow. If you have a real"},{"speaker":"Philip Khao","startTime":3024.51,"endTime":3028.71,"body":"understanding of how you're"},{"speaker":"Philip Khao","startTime":3024.51,"endTime":3028.71,"body":"going, you're going to be able"},{"speaker":"Philip Khao","startTime":3028.71,"endTime":3035.16,"body":"to make better decisions. The"},{"speaker":"Philip Khao","startTime":3028.71,"endTime":3035.16,"body":"other thing is having goals. It"},{"speaker":"Philip Khao","startTime":3035.16,"endTime":3039.39,"body":"sounds cliche, but you need to"},{"speaker":"Philip Khao","startTime":3035.16,"endTime":3039.39,"body":"have goals, like you need to set"},{"speaker":"Philip Khao","startTime":3041.61,"endTime":3043.89,"body":"something for yourself to"},{"speaker":"Philip Khao","startTime":3041.61,"endTime":3043.89,"body":"achieve because if you don't,"},{"speaker":"Philip Khao","startTime":3043.89,"endTime":3046.71,"body":"you're just aimlessly doing what"},{"speaker":"Philip Khao","startTime":3043.89,"endTime":3046.71,"body":"you're doing. And you know, as"},{"speaker":"Philip Khao","startTime":3046.71,"endTime":3049.89,"body":"we touched on earlier, you're"},{"speaker":"Philip Khao","startTime":3046.71,"endTime":3049.89,"body":"going to over time, just going"},{"speaker":"Philip Khao","startTime":3049.89,"endTime":3054.57,"body":"to be end up working harder than"},{"speaker":"Philip Khao","startTime":3049.89,"endTime":3054.57,"body":"you were as an employee. And the"},{"speaker":"Philip Khao","startTime":3054.57,"endTime":3057.6,"body":"third thing is asking for help,"},{"speaker":"Philip Khao","startTime":3054.57,"endTime":3057.6,"body":"why that's so important. Like,"},{"speaker":"Philip Khao","startTime":3058.41,"endTime":3062.16,"body":"when I first started business, I"},{"speaker":"Philip Khao","startTime":3058.41,"endTime":3062.16,"body":"had an ego, I thought I knew"},{"speaker":"Philip Khao","startTime":3062.16,"endTime":3067.02,"body":"everyone knew everyone thought I"},{"speaker":"Philip Khao","startTime":3062.16,"endTime":3067.02,"body":"knew everything. But when I"},{"speaker":"Philip Khao","startTime":3067.02,"endTime":3071.49,"body":"decided to, you know, start"},{"speaker":"Philip Khao","startTime":3067.02,"endTime":3071.49,"body":"networking, and start investing"},{"speaker":"Philip Khao","startTime":3071.49,"endTime":3074.28,"body":"in a business coach, I realized"},{"speaker":"Philip Khao","startTime":3071.49,"endTime":3074.28,"body":"that I didn't know that much."},{"speaker":"Philip Khao","startTime":3075.33,"endTime":3078.42,"body":"And it's always good to be the"},{"speaker":"Philip Khao","startTime":3075.33,"endTime":3078.42,"body":"dumbest in the room, right now,"},{"speaker":"Philip Khao","startTime":3078.45,"endTime":3080.79,"body":"because then you're gonna learn"},{"speaker":"Philip Khao","startTime":3078.45,"endTime":3080.79,"body":"so much, you're gonna get so"},{"speaker":"Philip Khao","startTime":3080.79,"endTime":3083.64,"body":"much out of that and be able to"},{"speaker":"Philip Khao","startTime":3080.79,"endTime":3083.64,"body":"apply that moving forward, I"},{"speaker":"Philip Khao","startTime":3083.64,"endTime":3084.96,"body":"hate being the smartest in the"},{"speaker":"Philip Khao","startTime":3083.64,"endTime":3084.96,"body":"room."},{"speaker":"Victor Lagos","startTime":3086.4,"endTime":3088.71,"body":"When you say, it's"},{"speaker":"Victor Lagos","startTime":3086.4,"endTime":3088.71,"body":"always good to be the dumbest in"},{"speaker":"Victor Lagos","startTime":3088.71,"endTime":3093.06,"body":"the room. Like, that's very"},{"speaker":"Victor Lagos","startTime":3088.71,"endTime":3093.06,"body":"deflating to the ego. Because"},{"speaker":"Victor Lagos","startTime":3093.06,"endTime":3095.31,"body":"you enter a room and you feel"},{"speaker":"Victor Lagos","startTime":3093.06,"endTime":3095.31,"body":"dumb, you feel, you know,"},{"speaker":"Victor Lagos","startTime":3095.34,"endTime":3098.82,"body":"uncomfortable, but I get the"},{"speaker":"Victor Lagos","startTime":3095.34,"endTime":3098.82,"body":"angle you're coming from."},{"speaker":"Victor Lagos","startTime":3098.82,"endTime":3102.24,"body":"Because if you're the dumbest in"},{"speaker":"Victor Lagos","startTime":3098.82,"endTime":3102.24,"body":"the room, then you get to learn"},{"speaker":"Victor Lagos","startTime":3102.24,"endTime":3105.51,"body":"from your peers. And say that"},{"speaker":"Victor Lagos","startTime":3102.24,"endTime":3105.51,"body":"you're the average of the five"},{"speaker":"Victor Lagos","startTime":3105.51,"endTime":3108.33,"body":"people you spend the most time"},{"speaker":"Victor Lagos","startTime":3105.51,"endTime":3108.33,"body":"with. And that's on, you know,"},{"speaker":"Victor Lagos","startTime":3108.33,"endTime":3111.51,"body":"intellectual level, it's on a"},{"speaker":"Victor Lagos","startTime":3108.33,"endTime":3111.51,"body":"financial level. So you got to"},{"speaker":"Victor Lagos","startTime":3111.54,"endTime":3113.46,"body":"upgrade your, your inner circle,"},{"speaker":"Victor Lagos","startTime":3111.54,"endTime":3113.46,"body":"let's"},{"speaker":"Philip Khao","startTime":3113.55,"endTime":3116.34,"body":"remove the ego. And"},{"speaker":"Philip Khao","startTime":3113.55,"endTime":3116.34,"body":"you're right, you got to change"},{"speaker":"Philip Khao","startTime":3116.34,"endTime":3121.77,"body":"your environment, like I was in"},{"speaker":"Philip Khao","startTime":3116.34,"endTime":3121.77,"body":"an environment where I would"},{"speaker":"Philip Khao","startTime":3121.77,"endTime":3125.01,"body":"share my business stories and"},{"speaker":"Philip Khao","startTime":3121.77,"endTime":3125.01,"body":"trials and tribulations and"},{"speaker":"Philip Khao","startTime":3125.01,"endTime":3128.58,"body":"successes, and no one would"},{"speaker":"Philip Khao","startTime":3125.01,"endTime":3128.58,"body":"really care about it. Or they"},{"speaker":"Philip Khao","startTime":3128.58,"endTime":3132.3,"body":"might say, yeah, great work. But"},{"speaker":"Philip Khao","startTime":3128.58,"endTime":3132.3,"body":"there was no feedback or insight"},{"speaker":"Philip Khao","startTime":3132.33,"endTime":3137.7,"body":"back and I just wanted I was"},{"speaker":"Philip Khao","startTime":3132.33,"endTime":3137.7,"body":"yearning for that. Just the same"},{"speaker":"Philip Khao","startTime":3137.7,"endTime":3141.09,"body":"energy that and so that's part"},{"speaker":"Philip Khao","startTime":3137.7,"endTime":3141.09,"body":"of the reason why I joined BNI"},{"speaker":"Philip Khao","startTime":3141.12,"endTime":3144.45,"body":"because then I was able to"},{"speaker":"Philip Khao","startTime":3141.12,"endTime":3144.45,"body":"surround myself with like minded"},{"speaker":"Philip Khao","startTime":3144.45,"endTime":3146.55,"body":"business owners like yourself,"},{"speaker":"Philip Khao","startTime":3144.45,"endTime":3146.55,"body":"and we had this conversation"},{"speaker":"Philip Khao","startTime":3146.55,"endTime":3152.01,"body":"before. But now we can share our"},{"speaker":"Philip Khao","startTime":3146.55,"endTime":3152.01,"body":"stories. And that then creates"},{"speaker":"Philip Khao","startTime":3152.1,"endTime":3156.3,"body":"more motivation for us to then"},{"speaker":"Philip Khao","startTime":3152.1,"endTime":3156.3,"body":"grow our businesses, because you"},{"speaker":"Philip Khao","startTime":3156.3,"endTime":3159.33,"body":"might tell me something. And I"},{"speaker":"Philip Khao","startTime":3156.3,"endTime":3159.33,"body":"might say, You know what, that's"},{"speaker":"Philip Khao","startTime":3159.33,"endTime":3162.99,"body":"actually a good idea. I'm going"},{"speaker":"Philip Khao","startTime":3159.33,"endTime":3162.99,"body":"to use that too. Instead of all"},{"speaker":"Philip Khao","startTime":3162.99,"endTime":3167.79,"body":"great work. Yeah. So that's,"},{"speaker":"Philip Khao","startTime":3162.99,"endTime":3167.79,"body":"that's, that's something that I"},{"speaker":"Philip Khao","startTime":3167.79,"endTime":3173.13,"body":"really enjoyed. Not really had"},{"speaker":"Philip Khao","startTime":3167.79,"endTime":3173.13,"body":"to do. It was hard. But you"},{"speaker":"Philip Khao","startTime":3173.13,"endTime":3175.71,"body":"know, once again, putting"},{"speaker":"Philip Khao","startTime":3173.13,"endTime":3175.71,"body":"yourself in that environment,"},{"speaker":"Philip Khao","startTime":3175.71,"endTime":3179.46,"body":"you're gonna end up achieving"},{"speaker":"Philip Khao","startTime":3175.71,"endTime":3179.46,"body":"great things or doing the same"},{"speaker":"Philip Khao","startTime":3179.46,"endTime":3182.04,"body":"thing that everyone else is"},{"speaker":"Philip Khao","startTime":3179.46,"endTime":3182.04,"body":"doing in their environment. So"},{"speaker":"Victor Lagos","startTime":3182.07,"endTime":3185.58,"body":"yeah, no, I'm glad"},{"speaker":"Victor Lagos","startTime":3182.07,"endTime":3185.58,"body":"to share that because that was"},{"speaker":"Victor Lagos","startTime":3185.58,"endTime":3188.46,"body":"really powerful. Me too, I"},{"speaker":"Victor Lagos","startTime":3185.58,"endTime":3188.46,"body":"reckon, I recognize that being"},{"speaker":"Victor Lagos","startTime":3188.46,"endTime":3192.03,"body":"part of that network was so"},{"speaker":"Victor Lagos","startTime":3188.46,"endTime":3192.03,"body":"powerful, because I was around"},{"speaker":"Victor Lagos","startTime":3192.06,"endTime":3195.06,"body":"like minded people. And when"},{"speaker":"Victor Lagos","startTime":3192.06,"endTime":3195.06,"body":"you're an employee, and you"},{"speaker":"Victor Lagos","startTime":3195.06,"endTime":3198.6,"body":"spend time with other employees"},{"speaker":"Victor Lagos","startTime":3195.06,"endTime":3198.6,"body":"that don't think like this, then"},{"speaker":"Victor Lagos","startTime":3198.6,"endTime":3202.23,"body":"it's harder to think bigger."},{"speaker":"Victor Lagos","startTime":3198.6,"endTime":3202.23,"body":"Because everyone else is"},{"speaker":"Victor Lagos","startTime":3202.23,"endTime":3204.81,"body":"thinking smaller, even though"},{"speaker":"Victor Lagos","startTime":3202.23,"endTime":3204.81,"body":"you want to think bigger,"},{"speaker":"Victor Lagos","startTime":3205.11,"endTime":3207.27,"body":"they're just reminding you that"},{"speaker":"Victor Lagos","startTime":3205.11,"endTime":3207.27,"body":"they don't think that way. So"},{"speaker":"Victor Lagos","startTime":3207.27,"endTime":3209.61,"body":"then when you start talking"},{"speaker":"Victor Lagos","startTime":3207.27,"endTime":3209.61,"body":"about your business ideas, or"},{"speaker":"Victor Lagos","startTime":3209.61,"endTime":3213.18,"body":"what you want it to do, that the"},{"speaker":"Victor Lagos","startTime":3209.61,"endTime":3213.18,"body":"conversation doesn't flow, they"},{"speaker":"Victor Lagos","startTime":3213.18,"endTime":3215.97,"body":"don't relate to you, they don't"},{"speaker":"Victor Lagos","startTime":3213.18,"endTime":3215.97,"body":"know what you're going through,"},{"speaker":"Victor Lagos","startTime":3215.97,"endTime":3218.85,"body":"they can't give you advice or"},{"speaker":"Victor Lagos","startTime":3215.97,"endTime":3218.85,"body":"give you motivation. If"},{"speaker":"Victor Lagos","startTime":3218.85,"endTime":3220.95,"body":"anything, they'll probably try"},{"speaker":"Victor Lagos","startTime":3218.85,"endTime":3220.95,"body":"to bring you back to their level"},{"speaker":"Victor Lagos","startTime":3220.95,"endTime":3223.92,"body":"and say, no, no, you know, stick"},{"speaker":"Victor Lagos","startTime":3220.95,"endTime":3223.92,"body":"to the job. Like having you"},{"speaker":"Victor Lagos","startTime":3223.92,"endTime":3227.37,"body":"around. That's true, you know."},{"speaker":"Victor Lagos","startTime":3223.92,"endTime":3227.37,"body":"So that was one of the questions"},{"speaker":"Victor Lagos","startTime":3227.37,"endTime":3230.16,"body":"I wanted to ask about people"},{"speaker":"Victor Lagos","startTime":3227.37,"endTime":3230.16,"body":"that are thinking about leaving"},{"speaker":"Victor Lagos","startTime":3230.16,"endTime":3232.59,"body":"their job and starting a"},{"speaker":"Victor Lagos","startTime":3230.16,"endTime":3232.59,"body":"business, but they're worried"},{"speaker":"Victor Lagos","startTime":3232.59,"endTime":3235.32,"body":"about the security for their"},{"speaker":"Victor Lagos","startTime":3232.59,"endTime":3235.32,"body":"families, like what advice would"},{"speaker":"Victor Lagos","startTime":3235.32,"endTime":3235.8,"body":"you give them?"},{"speaker":"Philip Khao","startTime":3237.93,"endTime":3242.01,"body":"If any, if anyone"},{"speaker":"Philip Khao","startTime":3237.93,"endTime":3242.01,"body":"is thinking about that? I mean,"},{"speaker":"Philip Khao","startTime":3242.01,"endTime":3244.35,"body":"before you dive into it, you"},{"speaker":"Philip Khao","startTime":3242.01,"endTime":3244.35,"body":"have to be smart about it. So"},{"speaker":"Philip Khao","startTime":3244.41,"endTime":3248.43,"body":"you know, start, have a have a"},{"speaker":"Philip Khao","startTime":3244.41,"endTime":3248.43,"body":"have a conversation with your"},{"speaker":"Philip Khao","startTime":3248.43,"endTime":3250.83,"body":"wife or husband first. Yeah, let"},{"speaker":"Philip Khao","startTime":3248.43,"endTime":3250.83,"body":"them know what's happening."},{"speaker":"Philip Khao","startTime":3250.83,"endTime":3255.06,"body":"They're important. But then it's"},{"speaker":"Philip Khao","startTime":3250.83,"endTime":3255.06,"body":"saying, Okay, well, I'm gonna do"},{"speaker":"Philip Khao","startTime":3255.06,"endTime":3258.57,"body":"this. Let's be smart about let's"},{"speaker":"Philip Khao","startTime":3255.06,"endTime":3258.57,"body":"firstly, take care of our"},{"speaker":"Philip Khao","startTime":3258.57,"endTime":3262.59,"body":"financial budget, the family"},{"speaker":"Philip Khao","startTime":3258.57,"endTime":3262.59,"body":"budget, sit down, do the budget,"},{"speaker":"Philip Khao","startTime":3263.19,"endTime":3267.39,"body":"how much money is coming in"},{"speaker":"Philip Khao","startTime":3263.19,"endTime":3267.39,"body":"without my full time job? Or"},{"speaker":"Philip Khao","startTime":3267.42,"endTime":3271.59,"body":"what money is going out? That"},{"speaker":"Philip Khao","startTime":3267.42,"endTime":3271.59,"body":"will be a hit in the face."},{"speaker":"Philip Khao","startTime":3271.62,"endTime":3275.01,"body":"They'll slap in the face of"},{"speaker":"Philip Khao","startTime":3271.62,"endTime":3275.01,"body":"reality like, oh, okay, maybe."},{"speaker":"Philip Khao","startTime":3275.28,"endTime":3277.44,"body":"And they must start thinking,"},{"speaker":"Philip Khao","startTime":3275.28,"endTime":3277.44,"body":"Oh, maybe I shouldn't do this."},{"speaker":"Philip Khao","startTime":3277.92,"endTime":3280.83,"body":"But I mean, before you start"},{"speaker":"Philip Khao","startTime":3277.92,"endTime":3280.83,"body":"looking at expenses, think about"},{"speaker":"Philip Khao","startTime":3280.83,"endTime":3284.85,"body":"what you can cut down. Look at"},{"speaker":"Philip Khao","startTime":3280.83,"endTime":3284.85,"body":"your insurances. Go get them"},{"speaker":"Philip Khao","startTime":3284.85,"endTime":3288.6,"body":"recorded. Bring the premiums"},{"speaker":"Philip Khao","startTime":3284.85,"endTime":3288.6,"body":"down. Do that exercise for your"},{"speaker":"Philip Khao","startTime":3288.6,"endTime":3291.27,"body":"expenses, have a real"},{"speaker":"Philip Khao","startTime":3288.6,"endTime":3291.27,"body":"conversation about yourself. So"},{"speaker":"Philip Khao","startTime":3291.27,"endTime":3295.23,"body":"that's the starting point. The"},{"speaker":"Philip Khao","startTime":3291.27,"endTime":3295.23,"body":"second then is stop making"},{"speaker":"Philip Khao","startTime":3295.23,"endTime":3298.92,"body":"excuses. I was speaking to a"},{"speaker":"Philip Khao","startTime":3295.23,"endTime":3298.92,"body":"friend who was trying to get"},{"speaker":"Philip Khao","startTime":3298.92,"endTime":3303.45,"body":"into businesses as well, and all"},{"speaker":"Philip Khao","startTime":3298.92,"endTime":3303.45,"body":"I could hear was excuses coming"},{"speaker":"Philip Khao","startTime":3303.45,"endTime":3308.91,"body":"from him, like, Oh, I better go"},{"speaker":"Philip Khao","startTime":3303.45,"endTime":3308.91,"body":"on holidays. Got to wait till I"},{"speaker":"Philip Khao","startTime":3308.91,"endTime":3312.48,"body":"get my 10 year long service"},{"speaker":"Philip Khao","startTime":3308.91,"endTime":3312.48,"body":"leave or go to do this and that."},{"speaker":"Philip Khao","startTime":3312.84,"endTime":3316.44,"body":"And I was just like, dude, all I"},{"speaker":"Philip Khao","startTime":3312.84,"endTime":3316.44,"body":"hear is excuses, just, you know,"},{"speaker":"Philip Khao","startTime":3316.62,"endTime":3321.54,"body":"get into it. And so he actually"},{"speaker":"Philip Khao","startTime":3316.62,"endTime":3321.54,"body":"got into it now, thanks. He said"},{"speaker":"Philip Khao","startTime":3321.54,"endTime":3324.6,"body":"thanks to me, which is great,"},{"speaker":"Philip Khao","startTime":3321.54,"endTime":3324.6,"body":"I'd love to see that. But yeah,"},{"speaker":"Philip Khao","startTime":3324.6,"endTime":3327.33,"body":"stop thinking about it. And if"},{"speaker":"Philip Khao","startTime":3324.6,"endTime":3327.33,"body":"you've been thinking about for a"},{"speaker":"Philip Khao","startTime":3327.33,"endTime":3332.88,"body":"long time, then stop thinking,"},{"speaker":"Philip Khao","startTime":3327.33,"endTime":3332.88,"body":"start doing start doing right,"},{"speaker":"Philip Khao","startTime":3332.88,"endTime":3335.37,"body":"there's no excuse to stop making"},{"speaker":"Philip Khao","startTime":3332.88,"endTime":3335.37,"body":"excuses. And I said before,"},{"speaker":"Philip Khao","startTime":3335.37,"endTime":3337.89,"body":"like, your first year is going"},{"speaker":"Philip Khao","startTime":3335.37,"endTime":3337.89,"body":"to be the hardest year, but it"},{"speaker":"Philip Khao","startTime":3337.89,"endTime":3341.1,"body":"will put your back against the"},{"speaker":"Philip Khao","startTime":3337.89,"endTime":3341.1,"body":"wall. And you're going to be so"},{"speaker":"Philip Khao","startTime":3341.1,"endTime":3345.18,"body":"hungry and motivated to try and"},{"speaker":"Philip Khao","startTime":3341.1,"endTime":3345.18,"body":"achieve what you need to achieve"},{"speaker":"Philip Khao","startTime":3345.18,"endTime":3349.56,"body":"or generate the revenue you need"},{"speaker":"Philip Khao","startTime":3345.18,"endTime":3349.56,"body":"to survive, to take care of your"},{"speaker":"Philip Khao","startTime":3349.56,"endTime":3353.73,"body":"family. That's important. And"},{"speaker":"Philip Khao","startTime":3349.56,"endTime":3353.73,"body":"that's kind of what led me to"},{"speaker":"Philip Khao","startTime":3353.73,"endTime":3357.84,"body":"then apply for jobs and then"},{"speaker":"Philip Khao","startTime":3353.73,"endTime":3357.84,"body":"spin it so that I could just"},{"speaker":"Philip Khao","startTime":3357.84,"endTime":3360.84,"body":"contract to them. You're gonna"},{"speaker":"Philip Khao","startTime":3357.84,"endTime":3360.84,"body":"find yourself thinking outside"},{"speaker":"Philip Khao","startTime":3360.84,"endTime":3363.84,"body":"the box when when you do and"},{"speaker":"Philip Khao","startTime":3360.84,"endTime":3363.84,"body":"you're kind of thrown into the"},{"speaker":"Philip Khao","startTime":3363.84,"endTime":3370.62,"body":"wall. And then, when you do"},{"speaker":"Philip Khao","startTime":3363.84,"endTime":3370.62,"body":"start it sits, being telling the"},{"speaker":"Philip Khao","startTime":3370.62,"endTime":3372.72,"body":"public about it, no, not the"},{"speaker":"Philip Khao","startTime":3370.62,"endTime":3372.72,"body":"public, but telling your friends"},{"speaker":"Philip Khao","startTime":3372.72,"endTime":3376.17,"body":"and families, whether that's B,"},{"speaker":"Philip Khao","startTime":3372.72,"endTime":3376.17,"body":"whether that be social media, or"},{"speaker":"Philip Khao","startTime":3376.17,"endTime":3379.56,"body":"conversations, but tell everyone"},{"speaker":"Philip Khao","startTime":3376.17,"endTime":3379.56,"body":"in your network, Hey, I've gone"},{"speaker":"Philip Khao","startTime":3379.56,"endTime":3382.83,"body":"in full time, your true friends"},{"speaker":"Philip Khao","startTime":3379.56,"endTime":3382.83,"body":"and family will be the first"},{"speaker":"Philip Khao","startTime":3382.83,"endTime":3386.97,"body":"ones to support you. Whether"},{"speaker":"Philip Khao","startTime":3382.83,"endTime":3386.97,"body":"that's sharing, or letting"},{"speaker":"Philip Khao","startTime":3386.97,"endTime":3391.32,"body":"everyone else know, or being a"},{"speaker":"Philip Khao","startTime":3386.97,"endTime":3391.32,"body":"customer, or client. And that's"},{"speaker":"Philip Khao","startTime":3391.32,"endTime":3394.77,"body":"going to give you a little bit"},{"speaker":"Philip Khao","startTime":3391.32,"endTime":3394.77,"body":"of stability to start. The other"},{"speaker":"Philip Khao","startTime":3394.77,"endTime":3397.74,"body":"thing is then to remove the ego"},{"speaker":"Philip Khao","startTime":3394.77,"endTime":3397.74,"body":"and start networking and start"},{"speaker":"Philip Khao","startTime":3397.74,"endTime":3401.4,"body":"asking for help, because you"},{"speaker":"Philip Khao","startTime":3397.74,"endTime":3401.4,"body":"don't want to be on your own and"},{"speaker":"Philip Khao","startTime":3401.4,"endTime":3405.9,"body":"other people that have done what"},{"speaker":"Philip Khao","startTime":3401.4,"endTime":3405.9,"body":"you're doing right now. And"},{"speaker":"Philip Khao","startTime":3405.9,"endTime":3408.33,"body":"that, you know, five years down"},{"speaker":"Philip Khao","startTime":3405.9,"endTime":3408.33,"body":"the track, they're successful,"},{"speaker":"Philip Khao","startTime":3408.63,"endTime":3412.44,"body":"ask them for help, whether"},{"speaker":"Philip Khao","startTime":3408.63,"endTime":3412.44,"body":"that's just tips and tricks, or"},{"speaker":"Philip Khao","startTime":3413.28,"endTime":3416.25,"body":"how they're structured, how"},{"speaker":"Philip Khao","startTime":3413.28,"endTime":3416.25,"body":"they're generating revenue,"},{"speaker":"Philip Khao","startTime":3417.84,"endTime":3422.25,"body":"connections to people within the"},{"speaker":"Philip Khao","startTime":3417.84,"endTime":3422.25,"body":"same industry, to try and build"},{"speaker":"Philip Khao","startTime":3422.25,"endTime":3428.55,"body":"your business. Those are the"},{"speaker":"Philip Khao","startTime":3422.25,"endTime":3428.55,"body":"main things, but what I would"},{"speaker":"Philip Khao","startTime":3428.55,"endTime":3432.27,"body":"say is if you ultimately fail,"},{"speaker":"Philip Khao","startTime":3428.55,"endTime":3432.27,"body":"in the business idea that you've"},{"speaker":"Philip Khao","startTime":3432.27,"endTime":3436.38,"body":"gone ahead with, just know that"},{"speaker":"Philip Khao","startTime":3432.27,"endTime":3436.38,"body":"you've got a safety net to fall"},{"speaker":"Philip Khao","startTime":3436.38,"endTime":3441.27,"body":"back on, and that's to go back"},{"speaker":"Philip Khao","startTime":3436.38,"endTime":3441.27,"body":"to your job. Right? They're"},{"speaker":"Philip Khao","startTime":3441.27,"endTime":3443.43,"body":"gonna make a lot of money there."},{"speaker":"Philip Khao","startTime":3441.27,"endTime":3443.43,"body":"But at least if you've planned"},{"speaker":"Philip Khao","startTime":3443.43,"endTime":3446.55,"body":"ahead, you go, Okay, well, I've"},{"speaker":"Philip Khao","startTime":3443.43,"endTime":3446.55,"body":"got six months or 12 months,"},{"speaker":"Philip Khao","startTime":3446.79,"endTime":3450.3,"body":"where I can work by myself or"},{"speaker":"Philip Khao","startTime":3446.79,"endTime":3450.3,"body":"work tomorrow on this business."},{"speaker":"Philip Khao","startTime":3450.3,"endTime":3452.91,"body":"And if I fail, I won't have"},{"speaker":"Philip Khao","startTime":3450.3,"endTime":3452.91,"body":"money, and I'm going to need"},{"speaker":"Philip Khao","startTime":3452.91,"endTime":3455.16,"body":"money will apply for a job"},{"speaker":"Philip Khao","startTime":3452.91,"endTime":3455.16,"body":"you'll get, you'll probably get"},{"speaker":"Philip Khao","startTime":3455.16,"endTime":3459.6,"body":"a job in two months, especially"},{"speaker":"Philip Khao","startTime":3455.16,"endTime":3459.6,"body":"given the market market"},{"speaker":"Philip Khao","startTime":3459.63,"endTime":3460.41,"body":"conditions now."},{"speaker":"Victor Lagos","startTime":3461.73,"endTime":3463.71,"body":"That's really,"},{"speaker":"Victor Lagos","startTime":3461.73,"endTime":3463.71,"body":"really good advice that you"},{"speaker":"Victor Lagos","startTime":3463.71,"endTime":3466.59,"body":"gave, that's probably better"},{"speaker":"Victor Lagos","startTime":3463.71,"endTime":3466.59,"body":"advice. And I can think off the"},{"speaker":"Victor Lagos","startTime":3466.59,"endTime":3470.28,"body":"top of my head, but not really"},{"speaker":"Victor Lagos","startTime":3466.59,"endTime":3470.28,"body":"thank you for sharing that. One"},{"speaker":"Victor Lagos","startTime":3470.28,"endTime":3476.25,"body":"thing I do want to just add to"},{"speaker":"Victor Lagos","startTime":3470.28,"endTime":3476.25,"body":"that is when you work for"},{"speaker":"Victor Lagos","startTime":3476.25,"endTime":3481.23,"body":"someone, and you're good at what"},{"speaker":"Victor Lagos","startTime":3476.25,"endTime":3481.23,"body":"you do, people, or your employer"},{"speaker":"Victor Lagos","startTime":3481.47,"endTime":3485.55,"body":"will recognize that, and they"},{"speaker":"Victor Lagos","startTime":3481.47,"endTime":3485.55,"body":"will give you a pay increase,"},{"speaker":"Victor Lagos","startTime":3485.88,"endTime":3488.4,"body":"regular increase, and they may"},{"speaker":"Victor Lagos","startTime":3485.88,"endTime":3488.4,"body":"even give you incentives to"},{"speaker":"Victor Lagos","startTime":3488.4,"endTime":3494.49,"body":"stay. But no matter what, or how"},{"speaker":"Victor Lagos","startTime":3488.4,"endTime":3494.49,"body":"much they pay you, you're"},{"speaker":"Victor Lagos","startTime":3494.49,"endTime":3499.47,"body":"helping someone achieve their"},{"speaker":"Victor Lagos","startTime":3494.49,"endTime":3499.47,"body":"dreams, not yours. And if you're"},{"speaker":"Victor Lagos","startTime":3499.47,"endTime":3502.59,"body":"good at what you do, and they"},{"speaker":"Victor Lagos","startTime":3499.47,"endTime":3502.59,"body":"recognize that, then maybe it's"},{"speaker":"Victor Lagos","startTime":3502.59,"endTime":3506.28,"body":"time that you recognize that"},{"speaker":"Victor Lagos","startTime":3502.59,"endTime":3506.28,"body":"you're good at what you do. And"},{"speaker":"Victor Lagos","startTime":3506.28,"endTime":3511.08,"body":"you apply that to achieve your"},{"speaker":"Victor Lagos","startTime":3506.28,"endTime":3511.08,"body":"dreams. So I'm gonna leave it at"},{"speaker":"Victor Lagos","startTime":3511.08,"endTime":3516.99,"body":"that. I want to ask you, how can"},{"speaker":"Victor Lagos","startTime":3511.08,"endTime":3516.99,"body":"people find and connect with you"},{"speaker":"Victor Lagos","startTime":3516.99,"endTime":3518.16,"body":"and your team itself?"},{"speaker":"Philip Khao","startTime":3518.97,"endTime":3522.69,"body":"Yeah, so they can"},{"speaker":"Philip Khao","startTime":3518.97,"endTime":3522.69,"body":"find me on LinkedIn, Phillip,"},{"speaker":"Philip Khao","startTime":3522.72,"endTime":3528.33,"body":"Cal, pH i and IP, k h. Au."},{"speaker":"Philip Khao","startTime":3522.72,"endTime":3528.33,"body":"Otherwise, they can email me at"},{"speaker":"Philip Khao","startTime":3528.33,"endTime":3531.87,"body":"Phillip that solver"},{"speaker":"Philip Khao","startTime":3528.33,"endTime":3531.87,"body":"counting.com.au Or do a Google"},{"speaker":"Philip Khao","startTime":3531.87,"endTime":3534.06,"body":"search. I think it's pretty easy"},{"speaker":"Philip Khao","startTime":3531.87,"endTime":3534.06,"body":"to find people now."},{"speaker":"Victor Lagos","startTime":3534.6,"endTime":3536.67,"body":"Awesome. Thanks so"},{"speaker":"Victor Lagos","startTime":3534.6,"endTime":3536.67,"body":"much for coming on. I really"},{"speaker":"Victor Lagos","startTime":3536.67,"endTime":3538.8,"body":"appreciate it. And I'll see you"},{"speaker":"Victor Lagos","startTime":3536.67,"endTime":3538.8,"body":"next week."},{"speaker":"Philip Khao","startTime":3538.95,"endTime":3540.69,"body":"Thanks for having"},{"speaker":"Philip Khao","startTime":3538.95,"endTime":3540.69,"body":"me, Victor. Appreciate you"},{"speaker":"Philip Khao","startTime":3540.72,"endTime":3543.18,"body":"having me on your podcast."},{"speaker":"Philip Khao","startTime":3540.72,"endTime":3543.18,"body":"You're doing great things here."},{"speaker":"Philip Khao","startTime":3543.18,"endTime":3547.77,"body":"And I think the long goal, the"},{"speaker":"Philip Khao","startTime":3543.18,"endTime":3547.77,"body":"long term vision for you here is"},{"speaker":"Philip Khao","startTime":3547.77,"endTime":3552.03,"body":"going to be massive just because"},{"speaker":"Philip Khao","startTime":3547.77,"endTime":3552.03,"body":"you're doing great things to"},{"speaker":"Philip Khao","startTime":3552.03,"endTime":3556.8,"body":"help other people try and get to"},{"speaker":"Philip Khao","startTime":3552.03,"endTime":3556.8,"body":"financial freedom."},{"speaker":"Victor Lagos","startTime":3557.79,"endTime":3560.97,"body":"That's the goal"},{"speaker":"Victor Lagos","startTime":3557.79,"endTime":3560.97,"body":"and one episode at a time."},{"speaker":"Victor Lagos","startTime":3561.15,"endTime":3564.81,"body":"Awesome. Thanks. Thank you."},{"speaker":"Victor Lagos","startTime":3561.15,"endTime":3564.81,"body":"Thanks, everyone for listening."},{"speaker":"Victor Lagos","startTime":3565.05,"endTime":3568.38,"body":"Stay tuned for the next episode."},{"speaker":"Victor Lagos","startTime":3565.05,"endTime":3568.38,"body":"See you soon."}]}