Findependencehub.com – Financial Independence with Jonathan Chevreau

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[00:00] SPEAKER_01: Welcome to Canada's podcast.
[00:05] SPEAKER_03: I wear a few different hats as a CFO.
[00:08] SPEAKER_03: Whatever hats, CFOs like Imran need to wear.
[00:11] SPEAKER_03: Sages, tools and insights can make sure they fit.
[00:14] SPEAKER_03: Sage, helping business flow.
[00:15] SPEAKER_01: Welcome to Canada's podcast.
[00:18] SPEAKER_01: I'm Phil Wistler, founder.
[00:20] SPEAKER_01: And today we have John Sterevo.
[00:24] SPEAKER_01: And we know you're going to have a special
[00:27] SPEAKER_01: independence summer issue.
[00:29] SPEAKER_01: And talk about some of the things that John could pass on
[00:34] SPEAKER_01: from his own business,
[00:36] SPEAKER_01: independence.com.
[00:39] SPEAKER_01: To other entrepreneurs who are like us all,
[00:43] SPEAKER_01: driving for independence.
[00:47] SPEAKER_01: So John, before we get going on things,
[00:50] SPEAKER_01: I think it would be really good to give it.
[00:52] SPEAKER_01: I mean, I should say that John and I have done it together
[00:55] SPEAKER_01: for a few years and great friends in the world together.
[01:00] SPEAKER_01: So we have a history.
[01:01] SPEAKER_01: So it might be a little bit more friendly than normal.
[01:07] SPEAKER_01: But John, why don't you give everyone a three-ball
[01:10] SPEAKER_01: minutes off who's going to have a raise
[01:13] SPEAKER_01: and independence summer?
[01:15] SPEAKER_02: OK, well, we're sitting in the back house of a house
[01:17] SPEAKER_02: that was paid for with the mortars and paid for.
[01:19] SPEAKER_02: He's a pre-assessor working for you at the Great
[01:22] SPEAKER_02: Department of the North, way back in the time of the 80s
[01:26] SPEAKER_02: and technology.
[01:28] SPEAKER_02: I sort of went and moved as a teacher,
[01:31] SPEAKER_02: realistically from a state-of-the-rate
[01:33] SPEAKER_02: about technology to the global mail,
[01:36] SPEAKER_02: to ready about money for financial products,
[01:39] SPEAKER_02: several of the kind of satellites.
[01:41] SPEAKER_02: So we've thrown out, you spoke to us as we're
[01:43] SPEAKER_02: in independence to those very few people in the world
[01:46] SPEAKER_02: who don't know what to be,
[01:47] SPEAKER_02: specifically a contraction of financial independence.
[01:50] SPEAKER_02: So, independent financial independence.
[01:53] SPEAKER_02: Famed it.
[01:54] SPEAKER_02: Hopefully I coined the term.
[01:56] SPEAKER_02: And so I wrote an novel, an actual novel
[01:58] SPEAKER_02: called, independent data.com.
[02:00] SPEAKER_02: And that's basically just the day.
[02:02] SPEAKER_02: And just to say, hey, I'm not working because I must,
[02:07] SPEAKER_02: financially speaking, I'm working because I choose to be
[02:09] SPEAKER_02: engaged in the road.
[02:10] SPEAKER_02: I want to give back, and he's structured routine in my day.
[02:15] SPEAKER_02: But it's not just just to pay the mortgage,
[02:17] SPEAKER_02: because the mortgage, as the book says,
[02:20] SPEAKER_02: the foundation of financial independence,
[02:22] SPEAKER_02: isn't paid for home.
[02:24] SPEAKER_02: And there'd be relief with the clubly home here.
[02:26] SPEAKER_02: He is paid for.
[02:30] SPEAKER_01: Including the waterfall you're hearing about.
[02:32] SPEAKER_02: Well, the waterfall was tax-efficient.
[02:34] SPEAKER_02: That was the year of the 2008.
[02:37] SPEAKER_02: I think the government gave us a little financial incentive,
[02:40] SPEAKER_02: a tax credit, the home renovation tax credit.
[02:42] SPEAKER_02: So you're be glad to know that this was a tax-efficient
[02:45] SPEAKER_03: and additional to that.
[02:48] SPEAKER_01: So you don't explain about independent services
[02:55] SPEAKER_01: constantly, not everybody knows about it.
[02:58] SPEAKER_01: So what do you mean?
[02:59] SPEAKER_02: Yeah, I mean, it's probably not quite as well-known
[03:02] SPEAKER_02: as it will be in May or the last week.
[03:03] SPEAKER_02: You're all funny.
[03:04] SPEAKER_02: We've been going since 2014.
[03:07] SPEAKER_02: At the time, I was the editor-in-chief
[03:09] SPEAKER_02: at BunnySets Magazine, where I still
[03:11] SPEAKER_02: ran a column on retired money.
[03:14] SPEAKER_02: Once a month, I still had some of their stock market stocks.
[03:18] SPEAKER_02: So when I left full-time, I sort of declared
[03:22] SPEAKER_02: by Femte de Pethn's day at that time.
[03:23] SPEAKER_02: I think I was 59 or 16 years old.
[03:26] SPEAKER_02: And there's a bit of an incentive to the kicking going
[03:30] SPEAKER_02: for a year or two without having the certain means
[03:34] SPEAKER_02: of support.
[03:35] SPEAKER_02: So I thought, well, I mean, I like doing this stuff,
[03:37] SPEAKER_02: so I'm going to launch the Penedex independence
[03:40] SPEAKER_02: which was basically a spin-off on the Penedex
[03:43] SPEAKER_02: or novel Femte de Pethn's day.
[03:45] SPEAKER_02: The originally published in Canada in 2008,
[03:48] SPEAKER_02: and the United States edition in 2012, or thereabouts.
[03:53] SPEAKER_02: So having been a newspaper guy,
[03:56] SPEAKER_02: my motto was always a story of eight keeps the editor away,
[03:59] SPEAKER_02: along with the longest begins to go over the mail,
[04:01] SPEAKER_02: write editors a story every day that don't bother you
[04:04] SPEAKER_02: to do a social one-year-to-one day,
[04:05] SPEAKER_02: wouldn't care anything of this.
[04:07] SPEAKER_02: So I set out from the get-go to write a blog
[04:10] SPEAKER_02: or have a blog written for me every business day
[04:13] SPEAKER_02: because he's two weeks a year from 2014
[04:16] SPEAKER_02: on which I more or less have kept to lock off Saturday Sunday.
[04:21] SPEAKER_02: Lately, I've been experimenting as I even get
[04:24] SPEAKER_02: two particular type of value of guess you would call it,
[04:26] SPEAKER_02: with just doing, at least in the summer, four day weeks.
[04:29] SPEAKER_02: So I don't always publish a Wednesday right now,
[04:32] SPEAKER_02: just to give a little self-appointing.
[04:34] SPEAKER_02: So either I write these blogs
[04:36] SPEAKER_02: or I have what's called guess blogs,
[04:38] SPEAKER_02: we have advertisers, you know, write them out,
[04:40] SPEAKER_02: for example, B-O, R-C-T-F,
[04:44] SPEAKER_02: and I do, like, a geplicinize advertise.
[04:47] SPEAKER_02: So very for that, they get a monthly sponsor blog,
[04:50] SPEAKER_02: which is clearly identified as a blogging content.
[04:54] SPEAKER_02: They know it's related, you know, false advertising.
[04:57] SPEAKER_02: But still, essentially, it's all about,
[05:00] SPEAKER_02: I would say, it's targeted people who are
[05:03] SPEAKER_02: 10 or 20 years from what we used to call retirement,
[05:06] SPEAKER_02: what was I call independent,
[05:08] SPEAKER_02: or people already in sending retirement.
[05:10] SPEAKER_02: I mean, you could argue you and I fill in our
[05:13] SPEAKER_02: extremities.
[05:14] SPEAKER_02: And you could say, that's gonna say,
[05:16] SPEAKER_02: they think these are independent,
[05:19] SPEAKER_02: but we're, you know, there's a difference
[05:21] SPEAKER_02: between retirement and independent.
[05:23] SPEAKER_02: And why is it a difference to retirement
[05:25] SPEAKER_01: in sending a pendant?
[05:26] SPEAKER_01: It's been a pendant, it's been a pendant,
[05:27] SPEAKER_01: it's been a necessary means for your retirement.
[05:29] SPEAKER_01: It means that, you know, surviving,
[05:35] SPEAKER_01: this going surviving.
[05:38] SPEAKER_03: Yeah, as I was done.
[05:39] SPEAKER_02: Yeah, as you can be independent, but not retired.
[05:42] SPEAKER_02: But helping the other way around,
[05:43] SPEAKER_02: you can't be retired, but not independent.
[05:46] SPEAKER_02: I can't be out there.
[05:47] SPEAKER_02: I know there's some people trying to be,
[05:49] SPEAKER_02: I try to be retired,
[05:50] SPEAKER_02: and I'm helping you, independent,
[05:51] SPEAKER_02: and that doesn't work.
[05:52] SPEAKER_02: I'd definition, if you're not independent,
[05:54] SPEAKER_02: your expenses exceed your income.
[05:56] SPEAKER_02: That way lies madness.
[05:57] SPEAKER_01: This is the people that kind of live on, you know,
[06:01] SPEAKER_01: and in the time we've been writing about financial matters,
[06:06] SPEAKER_01: but let's say some dependent payments have got going.
[06:10] SPEAKER_01: I mean, what's being the major feedback?
[06:17] SPEAKER_01: What are people looking for?
[06:19] SPEAKER_02: Well, I think we could call the term whatever you want.
[06:23] SPEAKER_02: We could call it a personal finance,
[06:24] SPEAKER_02: like money, financial freedom.
[06:27] SPEAKER_02: You know, you look at the global mail
[06:29] SPEAKER_02: with some of the mass publications,
[06:31] SPEAKER_02: they seem to be obsessed with the term retirement,
[06:33] SPEAKER_02: it's just that you're even sure it has weight.
[06:35] SPEAKER_02: So the distinction between financial independence
[06:38] SPEAKER_02: and retirement, so the role is off some of these people.
[06:42] SPEAKER_02: But it doesn't really matter.
[06:43] SPEAKER_02: So people basically, what I think independent,
[06:46] SPEAKER_02: what I mean by, well, people really mean by it,
[06:49] SPEAKER_02: is they don't want to work as a salary employee,
[06:52] SPEAKER_02: with a boss, with the meetings,
[06:55] SPEAKER_02: haven't been performed since the pandemic,
[06:57] SPEAKER_02: you know, you have to commute like an hour a day
[06:59] SPEAKER_02: to get to some office at an eight o'clock in the morning
[07:01] SPEAKER_02: on nine o'clock or whatever on Monday and go going until Friday.
[07:08] SPEAKER_02: And of course, as a salary employee,
[07:10] SPEAKER_02: you're getting taxed rather heavily
[07:13] SPEAKER_02: as we are on an interesting thing, not so hard.
[07:17] SPEAKER_02: So I think it's, people think that they want to retire
[07:21] SPEAKER_02: from bad.
[07:23] SPEAKER_02: But in most cases, there's a lot of financial blog,
[07:26] SPEAKER_02: I mean, independent stuff has lots of competition.
[07:28] SPEAKER_02: And most of these people tend to be former salary employee,
[07:32] SPEAKER_02: who are wanting to become as for your site,
[07:35] SPEAKER_02: they want to become out of her nerds.
[07:38] SPEAKER_02: So in that case, if I could just be self-employed,
[07:41] SPEAKER_02: somebody retired, they're already getting a certain amount
[07:44] SPEAKER_02: of pension income and investment income,
[07:46] SPEAKER_02: but maybe they're 55, they're not really ready to pack
[07:50] SPEAKER_02: an income or another 20 years.
[07:52] SPEAKER_02: So they build a business and they get, you know,
[07:53] SPEAKER_02: if it's about financial independence,
[07:57] SPEAKER_02: they become authors, they write their own,
[07:59] SPEAKER_02: they write a book about it, they sell publishers,
[08:01] SPEAKER_02: they market it, they be podcast like this.
[08:06] SPEAKER_02: But it's all on their turn.
[08:08] SPEAKER_02: They're ready, they're working for themselves.
[08:10] SPEAKER_02: They may have choose to have employees.
[08:13] SPEAKER_02: Personally, I've never had employees,
[08:15] SPEAKER_02: like I admire people who have done it,
[08:18] SPEAKER_02: and like yourself, but you can be a one mad man
[08:21] SPEAKER_02: or a philanthropist, and I'm a philanthropist,
[08:23] SPEAKER_02: but I'm also incorporated for the tax reasons
[08:26] SPEAKER_02: and limited liability.
[08:29] SPEAKER_01: That's interesting.
[08:31] SPEAKER_01: So, you know, in terms of gaining from the family,
[08:39] SPEAKER_01: it was a kind of a magic series of steps,
[08:44] SPEAKER_01: you know, what's going to be for it,
[08:47] SPEAKER_01: then you have to be like, so,
[08:50] SPEAKER_01: so some of the beginning there aren't a scenario
[08:53] SPEAKER_01: to get any sort of, with it, with a new beginning
[08:57] SPEAKER_01: to independent.
[09:00] SPEAKER_01: From your side, so that it's four steps,
[09:04] SPEAKER_01: but then, to the four steps,
[09:06] SPEAKER_01: that they, it's a tape, no one's not going down,
[09:10] SPEAKER_01: you know what I mean, but if you take,
[09:12] SPEAKER_01: you're going to have a much better,
[09:14] SPEAKER_01: a little success practice.
[09:16] SPEAKER_02: Yeah, well, I mean, number one, of course,
[09:18] SPEAKER_02: you've got to get the point where you're living
[09:20] SPEAKER_02: within your means, and that the money coming in,
[09:23] SPEAKER_02: looks like running a business.
[09:25] SPEAKER_02: You better have more money coming in,
[09:26] SPEAKER_02: the money going out, or you're going,
[09:28] SPEAKER_02: by definition, into debt,
[09:30] SPEAKER_02: get these days, if you're free to go on higher,
[09:32] SPEAKER_02: so all of a sudden, you're not turning it into,
[09:34] SPEAKER_02: money eighths free anymore,
[09:36] SPEAKER_02: not like zero to two percent,
[09:37] SPEAKER_02: it's more like, you know,
[09:38] SPEAKER_02: five to eight percent, if you have a more,
[09:40] SPEAKER_02: maybe more on credit cards.
[09:42] SPEAKER_02: So in Fiddle Pen is day to book,
[09:44] SPEAKER_02: the novel, we talk about the pictures,
[09:46] SPEAKER_02: we have a couple, Jamie and Shina,
[09:48] SPEAKER_02: and they have different views on spending,
[09:50] SPEAKER_02: Jamie of the big spender,
[09:51] SPEAKER_02: save a builder, like yourself,
[09:52] SPEAKER_02: the builder who wants to build businesses,
[09:54] SPEAKER_02: Shina is more of a consumer consumption,
[09:56] SPEAKER_02: and she's got the same credit card habit,
[09:58] SPEAKER_02: and she sure has ever write off that.
[10:00] SPEAKER_02: So first day at stage,
[10:01] SPEAKER_02: you know, I'll say any of the financial plans
[10:03] SPEAKER_02: that you're asking about,
[10:04] SPEAKER_02: is to eliminate all forms of debt,
[10:06] SPEAKER_02: consumers get high interest,
[10:07] SPEAKER_02: but then after that,
[10:09] SPEAKER_02: if you're thinking of starting a business
[10:10] SPEAKER_02: with a non-punner,
[10:12] SPEAKER_02: you need to have the emergency cushion,
[10:14] SPEAKER_02: because you can't really count on
[10:15] SPEAKER_02: billions meeting your expenses in the first year.
[10:19] SPEAKER_02: So ideally, you've put aside enough money
[10:20] SPEAKER_02: for your personal existence,
[10:22] SPEAKER_02: your rent or your mortgage and the food,
[10:25] SPEAKER_02: and the utilities and all that,
[10:26] SPEAKER_02: is taking care of for a year
[10:27] SPEAKER_02: while you make the sales calls and you build the business.
[10:31] SPEAKER_02: Having done that,
[10:32] SPEAKER_02: it worked to have a little bit surplus,
[10:34] SPEAKER_02: you know, you could start reinvesting it
[10:35] SPEAKER_02: into either more assets or perhaps
[10:38] SPEAKER_02: building a bigger cushion.
[10:40] SPEAKER_02: As I said earlier in the book,
[10:42] SPEAKER_02: about the book,
[10:43] SPEAKER_02: the foundation of financial independence
[10:45] SPEAKER_02: in my view is a paid for home.
[10:48] SPEAKER_02: Not that easy and Toronto-avancative are these things.
[10:51] SPEAKER_02: I'll feel sorry for young people
[10:52] SPEAKER_02: who are just trying to go on for this world.
[10:57] SPEAKER_02: Once you've got the good of the big mortgage,
[11:00] SPEAKER_02: you know, tends to be in your business
[11:02] SPEAKER_02: or 40 or something,
[11:04] SPEAKER_02: then as a matter of building the nest egg
[11:05] SPEAKER_02: to the point where you live by the,
[11:08] SPEAKER_02: it's called the 4% rule,
[11:10] SPEAKER_02: where for example, if you have a million dollars,
[11:14] SPEAKER_02: you should be able to account
[11:15] SPEAKER_02: of getting $40,000 a year,
[11:17] SPEAKER_02: 4% of a million is $40,000.
[11:20] SPEAKER_02: That's the inflation of justice.
[11:22] SPEAKER_02: So if you think you can live on $40,000 a year forever
[11:26] SPEAKER_02: or your own group,
[11:28] SPEAKER_02: then that's what you're going for.
[11:29] SPEAKER_02: And you probably achieve that
[11:31] SPEAKER_02: to remix the stock bonds and ETFs,
[11:33] SPEAKER_02: covering those assets right.
[11:36] SPEAKER_00: Starting a new business is an exciting journey,
[11:39] SPEAKER_00: but it also comes with its fair share of risks.
[11:42] SPEAKER_00: Business insurance,
[11:43] SPEAKER_00: safeguards your hard work
[11:45] SPEAKER_00: by protecting your assets
[11:46] SPEAKER_00: without it a substantial liability claim
[11:49] SPEAKER_00: could put your personal finances at risk.
[11:53] SPEAKER_00: Lability insurance also gives you a competitive edge
[11:55] SPEAKER_00: in the market.
[11:56] SPEAKER_00: Visit Zensurance forward slash,
[11:59] SPEAKER_00: save 35, to get a free quote
[12:01] SPEAKER_00: for the low cost insurance protection you need.
[12:04] SPEAKER_00: So you can focus on your growing business.
[12:08] SPEAKER_01: There's one more thing that we want to be covered
[12:10] SPEAKER_01: from the outside.
[12:12] SPEAKER_01: So then we call victory last with time.
[12:15] SPEAKER_01: What is that?
[12:18] SPEAKER_02: Well victory lap retirement is another book
[12:19] SPEAKER_02: that I co-rode with our chat,
[12:21] SPEAKER_02: a next corporate banker, my track, my drag,
[12:24] SPEAKER_02: I get with the TV, RBC, all of those banks.
[12:27] SPEAKER_02: And he had this dream of basically,
[12:30] SPEAKER_02: he was reading the financial,
[12:32] SPEAKER_02: he's an author, that's how he learned about it.
[12:35] SPEAKER_02: And kind of approached me one day,
[12:36] SPEAKER_02: but they all got this idea for a book called Victory lap retirement.
[12:40] SPEAKER_02: He never written a book,
[12:41] SPEAKER_02: and he realized it was a good talent for them.
[12:43] SPEAKER_02: I doubt that.
[12:44] SPEAKER_02: So I said, I'm sure we can,
[12:46] SPEAKER_02: I got about with the publishers,
[12:48] SPEAKER_02: and Warner and so did,
[12:49] SPEAKER_02: set about the cartoonist Steve Lee,
[12:51] SPEAKER_02: so next was cartoonist, by the way.
[12:53] SPEAKER_02: And so we co-wrote this book called Victory lap retirement
[12:56] SPEAKER_02: when we were in the Soviet Union,
[12:57] SPEAKER_02: and it was actually additionary
[12:58] SPEAKER_02: to the new exhibition,
[13:00] SPEAKER_02: the US financial planner.
[13:03] SPEAKER_02: And essentially Victory lap retirement is life after independence.
[13:07] SPEAKER_02: So, the benefit of this day is covering,
[13:09] SPEAKER_02: everybody's been in the job,
[13:10] SPEAKER_02: a young nearly ready to get married,
[13:12] SPEAKER_02: you start to worry about forage,
[13:13] SPEAKER_02: and get your first job,
[13:14] SPEAKER_02: up to when you're to declare your independence,
[13:16] SPEAKER_02: and let's say it's inches,
[13:17] SPEAKER_02: and falls on the lake of Ireland.
[13:19] SPEAKER_02: From the moment on,
[13:21] SPEAKER_02: a 55 on, if you've received your achieved independence,
[13:24] SPEAKER_02: now you're in your victory.
[13:25] SPEAKER_02: You're not retired yet.
[13:28] SPEAKER_02: You're basically gone from the point
[13:30] SPEAKER_02: to entrepreneurs, self-employee,
[13:32] SPEAKER_02: and maybe you're gonna have a 10 or 15 year awkward period.
[13:37] SPEAKER_02: And at least you might maybe have seven years,
[13:39] SPEAKER_02: every five, you decided to be classically fully retired
[13:42] SPEAKER_02: and move old, so.
[13:43] SPEAKER_02: But if you're gonna stay in get there,
[13:46] SPEAKER_02: and the way you get there,
[13:47] SPEAKER_02: you begin your victory lap retirement.
[13:49] SPEAKER_02: Unless you're a civil servant,
[13:50] SPEAKER_02: or you work for the auto-automound,
[13:52] SPEAKER_02: and you have a defined benefit-pension plan,
[13:54] SPEAKER_01: which is very rare.
[13:55] SPEAKER_01: We said today, we're gonna be.
[13:57] SPEAKER_02: Yeah, but you'll often if you can, but now.
[13:59] SPEAKER_01: But what you view on fornets if you can,
[14:01] SPEAKER_01: we know let's be real about it.
[14:03] SPEAKER_01: On for ownership,
[14:05] SPEAKER_01: in our day,
[14:08] SPEAKER_01: you're created by
[14:11] SPEAKER_01: done realizing you couldn't work to somebody,
[14:14] SPEAKER_01: or somebody's pulling out,
[14:15] SPEAKER_01: or folding down,
[14:17] SPEAKER_01: and off of your own,
[14:18] SPEAKER_01: you're going on for fornets.
[14:21] SPEAKER_01: I don't think it's in the same mix
[14:25] SPEAKER_01: as it was,
[14:26] SPEAKER_01: you know, funny, funny, real strong.
[14:30] SPEAKER_02: Well, I don't think everybody is coming from there,
[14:32] SPEAKER_02: and I think, as I say, our daughter,
[14:34] SPEAKER_02: a lot of the way I do,
[14:36] SPEAKER_02: I think, you know, really,
[14:37] SPEAKER_02: she just goes head and job with the provincial government,
[14:40] SPEAKER_02: or you know, on a while,
[14:41] SPEAKER_02: and like hang in there for 35 years,
[14:43] SPEAKER_02: get that defensive plan,
[14:44] SPEAKER_02: and you can be free forever at the 55,
[14:48] SPEAKER_02: but other young people are divorced,
[14:51] SPEAKER_02: Leon, from the real,
[14:52] SPEAKER_02: the TikTok generation,
[14:54] SPEAKER_02: and they know they've got all the social media feel
[14:56] SPEAKER_02: to promote themselves,
[15:00] SPEAKER_02: and you know, you've had partnerships
[15:03] SPEAKER_02: that you don't have to be a sole pro-party.
[15:05] SPEAKER_02: You're going to find somebody else who's got
[15:07] SPEAKER_02: what are the skills that are complimentary?
[15:10] SPEAKER_02: Yes, as opposed to,
[15:12] SPEAKER_02: you could be the salesperson,
[15:14] SPEAKER_02: you're the creative person,
[15:15] SPEAKER_02: whatever the mix is,
[15:16] SPEAKER_02: you don't want to have new flights.
[15:18] SPEAKER_02: You want somebody else,
[15:20] SPEAKER_01: and I think in your own career,
[15:21] SPEAKER_01: you've done it.
[15:22] SPEAKER_01: Yeah, that was exactly right.
[15:24] SPEAKER_01: You know, you don't want,
[15:24] SPEAKER_01: you don't want to do the same things
[15:26] SPEAKER_01: you talked to,
[15:26] SPEAKER_01: or you want someone to compliment you,
[15:28] SPEAKER_01: someone that's still your life.
[15:31] SPEAKER_01: So, if you want to ask me some questions,
[15:33] SPEAKER_01: or we'll kind of round up
[15:35] SPEAKER_01: with this sort of financial,
[15:38] SPEAKER_01: entrepreneurship kind of conversation,
[15:40] SPEAKER_01: she would throw a couple of things at me.
[15:42] SPEAKER_02: Yeah, so instead of her new journalist,
[15:46] SPEAKER_02: me source, now I'm going to be the journalist,
[15:48] SPEAKER_02: and my natural,
[15:49] SPEAKER_02: when you are going to be the source,
[15:51] SPEAKER_02: so I get to be the boss,
[15:52] SPEAKER_02: and I'm not sure,
[15:53] SPEAKER_02: all right, Mr. Bliss.
[15:55] SPEAKER_02: So you claim to be a lawyer,
[15:57] SPEAKER_02: but you're a premier.
[16:00] SPEAKER_02: Tell us about CP.
[16:01] SPEAKER_02: Canada's popular.
[16:02] SPEAKER_01: I was a volunteer for something I had an idea of,
[16:05] SPEAKER_01: going up a million,
[16:07] SPEAKER_01: a bit like you, John,
[16:08] SPEAKER_01: and I saw five years ago,
[16:10] SPEAKER_01: and we were podcasting with emerging five years,
[16:13] SPEAKER_01: and there was a lot of enthusiasm about me,
[16:16] SPEAKER_01: but no one would take me to the theater with me.
[16:20] SPEAKER_01: And I also told that they were a little bit,
[16:25] SPEAKER_01: I thought, I'm a well-man, you could come.
[16:28] SPEAKER_01: A lot of soul listeners,
[16:31] SPEAKER_01: you find the entrepreneurial,
[16:32] SPEAKER_01: find it be an entrepreneurial podcast,
[16:35] SPEAKER_01: you knew that was a business,
[16:36] SPEAKER_01: and some of them are stuck in some of the society,
[16:39] SPEAKER_01: but I kind of come from the old school,
[16:42] SPEAKER_01: I wanted a network basically.
[16:44] SPEAKER_01: I think if you live in a country,
[16:46] SPEAKER_01: you can't really look after something,
[16:48] SPEAKER_01: or you want to have,
[16:51] SPEAKER_01: you used to be journalists in the city,
[16:56] SPEAKER_01: that I could have.
[16:57] SPEAKER_01: So we really developed a national entrepreneurial network.
[17:03] SPEAKER_01: So we have, you know,
[17:04] SPEAKER_01: basically from the island,
[17:07] SPEAKER_01: alongside to Atlantic,
[17:09] SPEAKER_01: where we have post-the-crosser company,
[17:12] SPEAKER_01: all from around the planet.
[17:13] SPEAKER_01: And so,
[17:16] SPEAKER_01: we also, one of the things I found five years ago,
[17:20] SPEAKER_01: everyone was interviewing tech entrepreneurs,
[17:23] SPEAKER_01: and there was not really much going on for others.
[17:28] SPEAKER_01: And I could understand that,
[17:29] SPEAKER_01: if you're an entrepreneur,
[17:30] SPEAKER_01: just for really glad about whether you're a tech
[17:32] SPEAKER_01: or a hairdresser or a farmer,
[17:34] SPEAKER_01: or what the heck you are,
[17:35] SPEAKER_01: you're not a entrepreneur,
[17:36] SPEAKER_01: you're running your own stock,
[17:38] SPEAKER_01: running your own farm,
[17:39] SPEAKER_01: you're not a entrepreneur.
[17:41] SPEAKER_01: So I wanted to get some of those stories,
[17:43] SPEAKER_01: as well as the kind of,
[17:46] SPEAKER_01: the hot,
[17:46] SPEAKER_01: destruction,
[17:47] SPEAKER_01: technology,
[17:48] SPEAKER_01: kind of things
[17:49] SPEAKER_01: that seemed to be about eight to five percent
[17:52] SPEAKER_01: of the podcast that I do about the list,
[17:54] SPEAKER_01: because no different set that I expect
[17:56] SPEAKER_01: would be competitive.
[17:58] SPEAKER_01: And that's what was up in the brilliant
[18:00] SPEAKER_01: of the show,
[18:03] SPEAKER_01: Canada's economy on,
[18:05] SPEAKER_01: sort of multiple areas,
[18:08] SPEAKER_01: and it techs still a big piece of it,
[18:09] SPEAKER_01: but it certainly not the only piece of it.
[18:11] SPEAKER_01: Every stone count of it,
[18:13] SPEAKER_01: economy in terms of diversity,
[18:18] SPEAKER_01: and it's great.
[18:19] Speaker UNKNOWN: This fun,
[18:20] SPEAKER_01: from that,
[18:20] SPEAKER_01: it's been really exciting five year journey.
[18:23] SPEAKER_01: And we are,
[18:24] SPEAKER_01: we have become the number one brand
[18:26] SPEAKER_01: in this kind of podcast across the country,
[18:30] SPEAKER_01: and it's done as well.
[18:32] SPEAKER_01: And, you know,
[18:33] SPEAKER_01: it's a business channel,
[18:34] SPEAKER_01: speaks to people,
[18:36] SPEAKER_01: that are interested in business,
[18:37] SPEAKER_01: running their business,
[18:38] SPEAKER_01: understanding the people from others,
[18:41] SPEAKER_01: and so this,
[18:42] SPEAKER_01: the lessons learned from other,
[18:44] SPEAKER_01: and that's,
[18:45] SPEAKER_01: that's the invaluable,
[18:46] SPEAKER_01: you know,
[18:46] SPEAKER_01: that's by little contribution.
[18:49] SPEAKER_02: It is, what it is now,
[18:51] SPEAKER_02: five year after the early years of the exception,
[18:54] SPEAKER_02: has it changed?
[18:54] SPEAKER_02: How is it different than other podcasts?
[18:56] SPEAKER_01: Well, I think the truth is,
[18:57] SPEAKER_01: one of one we started audio,
[18:59] SPEAKER_01: that was all it was,
[19:00] SPEAKER_01: and to me,
[19:01] SPEAKER_01: I mean, that was interesting,
[19:03] SPEAKER_01: because I love radio always,
[19:05] SPEAKER_01: and this was a new radio,
[19:08] SPEAKER_01: basically where I could choose my channel,
[19:10] SPEAKER_01: and I didn't have to listen to all the other crap,
[19:12] SPEAKER_01: I could just listen to what stuff I wanted,
[19:14] SPEAKER_01: and that was,
[19:15] SPEAKER_01: that was a cool idea of it.
[19:18] SPEAKER_01: And then,
[19:21] SPEAKER_01: we merged about two years ago,
[19:23] SPEAKER_01: two and a half years ago,
[19:25] SPEAKER_01: we went videos,
[19:27] SPEAKER_01: five years ago,
[19:28] SPEAKER_01: we went a little bit decadent,
[19:30] SPEAKER_01: and that was time that Google was,
[19:33] SPEAKER_01: made it set for Visual,
[19:34] SPEAKER_01: which was about a movie,
[19:35] SPEAKER_01: YouTube,
[19:35] SPEAKER_01: so I thought,
[19:36] SPEAKER_01: that's people personally,
[19:38] SPEAKER_01: kind of thing.
[19:40] SPEAKER_01: Video podcasts,
[19:42] SPEAKER_01: and you know,
[19:43] SPEAKER_01: and get number one spot,
[19:44] SPEAKER_01: and we're all thinking,
[19:46] SPEAKER_01: and that,
[19:47] SPEAKER_01: but it's funnier now,
[19:51] SPEAKER_01: that we get a lot of views,
[19:54] SPEAKER_01: but,
[19:56] SPEAKER_01: audio still wins,
[19:58] SPEAKER_01: but by quite a quite an amount.
[20:01] SPEAKER_01: People love to watch,
[20:04] SPEAKER_01: we do that,
[20:05] SPEAKER_01: I think you're listening to your podcast
[20:06] SPEAKER_01: when you're watching a lot.
[20:07] SPEAKER_01: I, you know,
[20:08] SPEAKER_01: Mike is looking at the podcast and the daughter,
[20:11] SPEAKER_01: but it's just the way things are,
[20:17] SPEAKER_01: that's the way it works.
[20:19] SPEAKER_01: So,
[20:20] SPEAKER_01: audio still good video can be very useful
[20:22] SPEAKER_01: in terms of seeing and exchange
[20:25] SPEAKER_01: and getting closer to it in terms of,
[20:28] SPEAKER_01: in terms of,
[20:30] SPEAKER_02: Yeah, I certainly found that,
[20:32] SPEAKER_02: I use Spotify,
[20:34] SPEAKER_02: so for the product,
[20:35] Speaker UNKNOWN: it's like,
[20:35] SPEAKER_02: well, I don't know,
[20:37] SPEAKER_02: I think it ever felt,
[20:38] SPEAKER_02: it's,
[20:39] SPEAKER_02: it's a pretty seamless thing.
[20:40] SPEAKER_02: Yeah, we're on everything,
[20:42] SPEAKER_01: so I don't mean,
[20:43] SPEAKER_01: we're going to Spotify's Apple,
[20:45] Speaker UNKNOWN: 
[20:45] SPEAKER_01: but,
[20:45] SPEAKER_01: but,
[20:46] SPEAKER_02: so I mean,
[20:48] SPEAKER_02: I was going to ask you what you like
[20:50] SPEAKER_02: about being a non-converter,
[20:51] SPEAKER_02: but,
[20:51] Speaker UNKNOWN: 
[20:52] SPEAKER_02: it's,
[20:53] SPEAKER_02: it's,
[20:54] SPEAKER_02: it's financial, right?
[20:55] Speaker UNKNOWN: I mean,
[20:55] SPEAKER_01: I like the independence of it.
[20:57] SPEAKER_01: I like the creativity of it.
[20:59] Speaker UNKNOWN: I mean,
[21:00] SPEAKER_01: you create a problem,
[21:03] SPEAKER_01: you're going to solve it yourself,
[21:04] SPEAKER_01: and get out of it.
[21:06] SPEAKER_01: But you see an opportunity,
[21:08] SPEAKER_01: you can be the first there,
[21:10] Speaker UNKNOWN: 
[21:11] SPEAKER_01: or do it better than what people are doing,
[21:13] SPEAKER_01: and that's all that's all that's happened back in talent,
[21:15] SPEAKER_01: you know,
[21:16] SPEAKER_01: and for me,
[21:18] SPEAKER_01: I'm done long enough,
[21:20] SPEAKER_01: but that's my,
[21:22] SPEAKER_01: my way is on deck,
[21:24] SPEAKER_01: and so on,
[21:26] SPEAKER_01: so that's sort of,
[21:28] SPEAKER_01: just where it works,
[21:29] SPEAKER_01: it works for me,
[21:30] SPEAKER_01: to done,
[21:31] SPEAKER_01: I have an idea,
[21:32] SPEAKER_01: I'm trying to get around to the floor,
[21:36] SPEAKER_01: 30,
[21:38] SPEAKER_01: 30,
[21:40] SPEAKER_02: I mean,
[21:41] SPEAKER_02: if you're not here,
[21:42] SPEAKER_02: you obviously,
[21:43] SPEAKER_02: the revenue comes subwise,
[21:45] SPEAKER_02: and I'm not sure if I like sex,
[21:46] SPEAKER_02: but the revenue model,
[21:48] Speaker UNKNOWN: I guess,
[21:48] SPEAKER_02: is the revenue,
[21:49] SPEAKER_01: so this is the media,
[21:51] SPEAKER_01: it's the media platform,
[21:52] SPEAKER_01: so rather than you've done,
[21:53] SPEAKER_01: the funds,
[21:54] SPEAKER_01: media,
[21:54] SPEAKER_01: basically,
[21:55] SPEAKER_01: the sponsorship from advertising,
[21:58] SPEAKER_01: from funds and podcasts,
[22:00] SPEAKER_01: so obviously,
[22:02] SPEAKER_01: from funds and podcasts,
[22:03] SPEAKER_01: for people who want to get their story out,
[22:06] SPEAKER_01: and that's important,
[22:09] SPEAKER_01: and all of marketing,
[22:10] SPEAKER_01: additional marketing around that,
[22:12] SPEAKER_01: and also from social looping,
[22:15] SPEAKER_01: from building up the audience.
[22:18] SPEAKER_01: I mean, a lot of our stuff is organic,
[22:20] SPEAKER_01: but if you want to be successful,
[22:22] SPEAKER_01: then it becomes multi-channel marketing,
[22:25] SPEAKER_01: but if it's multi-channel media,
[22:27] SPEAKER_01: you have 45,000 months of private newsreaders,
[22:33] SPEAKER_01: that go by every month,
[22:34] SPEAKER_01: so that's something like a 20% open year.
[22:37] SPEAKER_01: So that,
[22:39] SPEAKER_01: you know,
[22:39] SPEAKER_01: that's pretty,
[22:40] SPEAKER_01: that's pretty much the sound.
[22:42] Speaker UNKNOWN: And so,
[22:43] SPEAKER_01: we're very lucky to be on it.
[22:46] SPEAKER_01: Do you push the sound around social media,
[22:48] SPEAKER_02: and there's a lot of new ones,
[22:49] SPEAKER_02: like,
[22:49] SPEAKER_02: threads,
[22:49] SPEAKER_02: Facebook,
[22:50] SPEAKER_02: and that's the thing.
[22:51] SPEAKER_02: Yeah, we do,
[22:51] SPEAKER_01: we push it a lot,
[22:54] SPEAKER_01: and then,
[22:55] SPEAKER_01: you know,
[22:55] SPEAKER_01: if we're in use,
[22:56] SPEAKER_01: we're working with,
[22:58] SPEAKER_01: with it,
[23:00] SPEAKER_01: and advertiser,
[23:01] SPEAKER_01: or sponsor,
[23:02] SPEAKER_01: then we will,
[23:04] SPEAKER_01: you know, do what you do with social,
[23:07] SPEAKER_01: you know,
[23:09] SPEAKER_01: you know, demo it,
[23:10] SPEAKER_01: and the social network,
[23:13] SPEAKER_01: and so on.
[23:14] SPEAKER_01: Here's the,
[23:15] SPEAKER_02: so if you want to listen to the podcast,
[23:17] SPEAKER_02: or want to get,
[23:18] SPEAKER_02: follow you on social media,
[23:19] SPEAKER_02: maybe you're watching today's podcast,
[23:22] SPEAKER_02: we're going to reach you on X,
[23:24] SPEAKER_02: I guess they call it now,
[23:25] SPEAKER_02: and they say,
[23:27] SPEAKER_01: we'll say our X,
[23:28] SPEAKER_01: so I mean,
[23:29] SPEAKER_01: I've got a big channel,
[23:30] SPEAKER_01: I'm interested,
[23:32] SPEAKER_01: Facebook,
[23:34] SPEAKER_01: YouTube,
[23:35] SPEAKER_01: obviously YouTube,
[23:37] SPEAKER_01: YouTube,
[23:37] Speaker UNKNOWN: 
[23:38] SPEAKER_01: it's very big,
[23:39] SPEAKER_01: and you set all of the main deposits.
[23:43] Speaker UNKNOWN: 
[23:44] SPEAKER_01: Apple,
[23:44] SPEAKER_01: bought a violin,
[23:46] SPEAKER_01: that's what you know,
[23:46] SPEAKER_01: you were,
[23:47] Speaker UNKNOWN: you were,
[23:48] SPEAKER_01: you were,
[23:49] Speaker UNKNOWN: 
[23:49] Speaker UNKNOWN: you were,
[23:49] Speaker UNKNOWN: you were,
[23:49] SPEAKER_01: you were,
[23:49] SPEAKER_01: but if they want to follow you personally,
[23:53] SPEAKER_01: I mean,
[23:53] SPEAKER_01: you have a,
[23:54] SPEAKER_01: well,
[23:55] SPEAKER_01: let's write down this podcast.com,
[23:57] SPEAKER_01: you can see everything that I've done,
[23:59] SPEAKER_01: and do that,
[24:01] SPEAKER_01: and
[24:03] SPEAKER_01: I would rather not be followed personally
[24:05] SPEAKER_01: and be followed by the bottom.
[24:07] SPEAKER_02: We can follow me,
[24:08] SPEAKER_02: God's Shepherd,
[24:09] SPEAKER_02: Twitter,
[24:09] SPEAKER_02: God's Shepherd,
[24:10] SPEAKER_02: God's,
[24:11] SPEAKER_01: that's filled with it.
[24:14] SPEAKER_01: All right,
[24:14] SPEAKER_01: and we're just,
[24:15] SPEAKER_02: I'll just,
[24:16] SPEAKER_02: I'll just forward my follows over to you then.
[24:19] SPEAKER_02: Okay, well, last question.
[24:22] SPEAKER_02: What do you know now that you wish you,
[24:24] SPEAKER_02: did you put when you first started out in business?
[24:28] SPEAKER_01: This person was a land business,
[24:30] SPEAKER_01: and in business,
[24:31] SPEAKER_01: I would say,
[24:36] SPEAKER_01: I used to be known
[24:37] SPEAKER_01: in the early,
[24:39] Speaker UNKNOWN: 
[24:39] SPEAKER_01: in the early,
[24:40] Speaker UNKNOWN: 
[24:40] Speaker UNKNOWN: 
[24:40] SPEAKER_01: in the early,
[24:41] Speaker UNKNOWN: in the early,
[24:41] Speaker UNKNOWN: 
[24:43] SPEAKER_01: in the early,
[24:43] SPEAKER_01: in the early,
[24:44] SPEAKER_01: oh, right, you don't,
[24:45] SPEAKER_01: and that was obviously the wrong thing
[24:51] SPEAKER_01: and then a mind drop it could be on you,
[24:53] SPEAKER_01: but you have to be girlfriend,
[24:55] SPEAKER_01: you have to be a woman,
[24:58] SPEAKER_01: you have to go either way.
[25:00] SPEAKER_01: Not stupid or gonna offer to be an hour too 2012,
[25:04] SPEAKER_01: but if you do that,
[25:05] SPEAKER_01: then stop spending time with this etcetera.
[25:09] SPEAKER_01: There should be fun ponp,
[25:10] Speaker UNKNOWN: but he can't,
[25:11] SPEAKER_01: he can't do it,
[25:12] SPEAKER_01: a width, this is 10 to 9 percent further. So you have to quantify it and it comes out,
[25:19] SPEAKER_01: the analysis comes out out of it, then you have to go. And the faster you derive at the
[25:26] SPEAKER_02: beginning, the better you think. Okay, well, it sounds like another version of fin
[25:34] SPEAKER_02: dependence and then glad that you're sort of well on the way to your victory lap retirement.
[25:38] SPEAKER_01: Yeah, well, John, I don't know that I will retire, but I'm really seeing you and thanks for
[25:43] SPEAKER_01: someone telling us about that. We're forward to a little bit of a fine trip going to be
[25:48] SPEAKER_02: profit. All right. Contact us at info at canadaspotcast.com