E155: How to Achieve Financial Freedom By Becoming A More Effective Leader

Kelly Schols is a financial and accountability coach, speaker, and success mentor. The president of Kelly Schols Inc., he is also the author of Never By The Book and the host of the podcast of the same name. After becoming a debt-free millionaire by the age of 40, he developed a passion for teaching others his simple and straightforward message of financial freedom through countless workshops across the country.

In this episode, we talked about leadership, coaching, finance, accountability…

Show notes

• Introducing Kelly Schols. [1:34]
• Kelly’s journey to becoming debt-free and a millionaire by 40. [2:35]
• On coaching and mentoring business owners in the home service industry. [4:30]
• Understanding compounding interest using a drinking analogy. [9:35]
• Being financially responsible. [12:20]
• Kelly’s lowest point, financially, and how he bounced back and got on his way to becoming a debt-free millionaire. [14:44]
• What to do to bounce back from your lowest financial point. [16:19]
• Advice for entrepreneurs who are struggling to become financially free. [21:45]
• The difference between Kelly’s two-hour class versus his six-hour workshop. [22:22]
• The best way to build discipline: Tactics for confronting business, financial, and life obstacles to face them head-on and with tenacity. [25:09]
• Charging the right price, taxes, and honest financials. [29:15]
• The characteristics of really bad leaders. [34:46]
• Why the employees are a crucial part in the manual-making process. [39:55]
• Tips for motivating your team and your employees. [40:53]
• Why employees become disinterested in training programs that are not broken down and simplified properly. [42:03]
• The two types of people in a relationship when it comes to money. [44:30]
• Joint accounts, separate accounts, and handling finances as husband and wife. [46:28]
• What readers can expect from Never By The Book. [48:52]
• How to get more information about Kelly. [54:42]
• Three books on Kelly’s reading list. [55:20]
• Kelly’s most important piece of advice to home service business owners. [56:45]
• Why unions can be a good thing. [1:02:18]

Resources And People Mentioned:

• kellyschols.com
• Dave Ramsey
• Profit First by Mike Michalowicz
• The Compound Effect by Darren Hardy
• Ellen Rohr
• The Millionaire Next Door by Thomas J. Stanley
• Donald Trump
• Warren Buffet
• Extreme Ownership by Jocko Willink and Leif Babin
• The Dream Manager by Matthew Kelly
• The Wealthy Barber by David Chilton
• The Six Dimensions of Change by Kenny Chapman
• Napoleon Hill