The future of AI is a topic of discussion in this soliloquy by R. Kenner French. He emphasizes the importance of being on the right side of AI and becoming a leader in the industry. The ethical components of AI are also highlighted, with the need for leaders to shape the future of AI in an ethical manner.

Those who do not adopt AI may be left behind and potentially replaced by artificial intelligence. The potential benefits of using AI in business and expanding one's role at work are also mentioned. The soliloquy concludes with a reminder to invest time and resources in learning about AI to be part of the conversation and help shape its future.

Takeaways

• Being on the right side of AI and becoming a leader in the industry is advantageous.

• Ethical considerations are important in shaping the future of AI.

• Those who do not adopt AI may be left behind and potentially replaced by artificial intelligence.

• Using AI in business can lead to growth, efficiency, and expanded roles at work.

• Investing time and resources in learning about AI is beneficial for individuals and organizations.

Sound Bites

• The future of AI, will it be on the right side or the wrong side?

• If you're not adopting AI, you're probably not going to be at the forefront.

• Ethics aside, someone is going to be pushing the envelope as far as ethics go.

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Monday-Thursday 8:00 AM – 5:00 PM (Pacific)

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R. Kenner French shares three tax hacks for real estate investors. The three hacks discussed are: 1) utilizing a defined benefit plan to lower tax liability, 2) taking advantage of R&D tax credits for artificial intelligence investments, and 3) setting up a captive insurance company for risk mitigation and tax benefits.

These hacks can help real estate investors save money legally, morally, and ethically.

Takeaways

• Utilizing a defined benefit plan can lower tax liability for real estate investors, especially if they have no employees.

• R&D tax credits can be obtained for investments in artificial intelligence, providing a dollar-for-dollar tax credit.

• Setting up a captive insurance company can offer tax deductions and allow for better management of funds.

• These tax hacks can help real estate investors save money legally, morally, and ethically.

Sound Bites

• I have three tax hacks for real estate investors.

• Defined benefit plans may lower your prior year's tax return.

• R&D tax credits. Oh my gosh. Especially nowadays, everyone's doing artificial intelligence.

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Monday-Thursday 8:00 AM – 5:00 PM (Pacific)

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Chris Johnsen, a civil attorney specializing in business law, shares insights on selling a business and the importance of building structures and systems to make a business more marketable. He emphasizes the need to start thinking about selling a business about five years in advance and recommends resources like the book 'Clockwork' and the podcast by John Warrillow.

Chris also discusses the significance of having clean and organized books, the role of attorneys in the selling process, and the benefits of infinite banking and self-directed investing.

Takeaways

• Start thinking about selling a business about five years in advance and focus on building structures and systems that make the business more marketable.

• Having clean and organized books is crucial for a successful business sale.

• Consider working with an attorney to navigate the selling process and protect your interests.

• Explore the concept of infinite banking and self-directed investing as alternative financial strategies.

Sound Bites

• Start thinking about these things about five years out from the time that you want to sell your practice.

• The number one deal killer is messy books.

• It makes sense to meet with an attorney early on, even right after starting a business, to optimize the rate of return when selling.

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Monday-Thursday 8:00 AM – 5:00 PM (Pacific)

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R. Kenner French and Deborah Woodruff discuss a case study involving a client who is two years away from retirement and is uncertain about managing their 401k. They explore various options for rolling over the 401k into an IRA, the importance of conservative investing as retirement approaches, and the significance of asset allocation in retirement planning.

The discussion emphasizes the need for a solid retirement plan and the flexibility to adjust investment strategies based on market conditions and personal confidence.

Takeaways

• The client is two years away from retirement and nervous about the economy.

• Rolling over a 401k to an IRA can be tax neutral.

• Investors should be more conservative as they approach retirement.

• IRA is a tax-deferred strategy, not an investment itself.

• Asset allocation is crucial for retirement planning.

• Short-term investors should avoid aggressive investments.

• Lifestyle funds adjust their investment strategy as retirement approaches.

• Regularly revisiting the retirement plan is essential.

• A solid plan helps guide investment decisions over time.

• Without a plan, investors risk poor outcomes in retirement.

Sound Bites

• He's two years from retirement.

• IRA is a banner of a congressional act.

• It's not an investment, but it's a banner.

• Without a good plan, you might end up in Texas.

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Monday-Thursday 8:00 AM – 5:00 PM (Pacific)

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Colby Jones discusses his expertise in event planning, particularly for entrepreneurs. He emphasizes the importance of budget management and how he aims to provide value without charging fees.

He explains that there are no deals too small for him and shares insights on how he can help entrepreneurs save money while organizing successful events. He also highlights the significance of events in boosting business success and the collaborative approach he takes with clients to ensure their needs are met.

Takeaways

• Colby Jones is known for his expertise in event planning and cruises.

• Budget is a primary concern for entrepreneurs when planning events.

• Colby aims to provide the best value without charging high fees.

• There is no deal too small for Colby when it comes to events.

• Colby can help entrepreneurs make money through effective event pricing.

• He has experience with large-scale events, including music festivals.

• Building connections is crucial for successful events.

• Events should be designed to minimize distractions for attendees.

• Colby emphasizes collaboration in the event planning process.

• He is launching a YouTube channel and podcast to share more insights.

Sound Bites

• I want your success, not your money.

• Events are really easy to do.

• I work for you, not against you.

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Monday-Thursday 8:00 AM – 5:00 PM (Pacific)

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R. Kenner French discusses the evolution of artificial intelligence (AI) and its significance for small business owners. He shares insights , highlighting key themes such as the importance of ethics in AI, the future applications of AI technology, and the growing adoption of AI in traditional industries.

Kenner emphasizes the necessity for business owners to engage with AI to remain competitive and offers resources for further learning.

Takeaways

• AI is crucial for small business owners to stay relevant.

• Attending AI conferences can provide valuable insights.

Ethics in AI is becoming a significant concern.

• The cost of AI technology is decreasing, making it more accessible.

• Traditional industries are beginning to adopt AI solutions.

• AI is evolving rapidly, with new applications emerging frequently.

• Business owners should invest time in understanding AI.

• Automation through AI can enhance business efficiency.

• Networking with others in AI can foster innovation.

• Resources like books can provide additional guidance for entrepreneurs.

Sound Bites

• AI is changing.

• Spend an hour a day on AI.

• Get a copy of my book.

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Monday-Thursday 8:00 AM – 5:00 PM (Pacific)

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Angela Duncan, also known as Miss Finance, discusses tax liens and their potential for high returns. She explains that tax liens are created when people don't pay their property taxes, and investors can buy these liens at auction. If the property owner doesn't pay the taxes, the investor may end up owning the property.

Angela emphasizes the importance of doing thorough research and due diligence before investing in tax liens. She also mentions the potential tax advantages of investing in tax liens through qualified plans like Roth IRAs. She offers coaching and education on tax lien investing.

Takeaways

• Tax liens are created when property owners don't pay their taxes, and investors can buy these liens at auction.

• Investors may end up owning the property if the owner doesn't pay the taxes.

• Thorough research and due diligence are essential before investing in tax liens.

• Investing in tax liens through qualified plans like Roth IRAs can offer potential tax advantages.

• Angela Duncan offers coaching and education on tax lien investing

Sound Bites

• Let's talk tax liens. Let's give the basics of tax liens.

• You could get a huge rate of return.

• Tax liens make a lot of sense.

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Monday-Thursday 8:00 AM – 5:00 PM (Pacific)

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Bob McIntosh, a marketing guru, shares valuable insights on building a successful business. He emphasizes the importance of having a professional and trustworthy website to boost credibility. Bob also highlights the significance of integrity in business and how it breeds trust with customers. He discusses his journey of building his marketing firm and the role of personal branding in attracting clients.

Bob explains the impact of email marketing on his business growth and the power of building relationships through speaking engagements. In this conversation, He discusses the importance of email marketing and the high ROI it can generate. He emphasizes the power of storytelling in email marketing and how it can engage and connect with the audience.

Bob also shares two mistakes he made in his business: not continuing to write emails consistently and not outsourcing fulfillment. He highlights the significance of follow-up in marketing and how it can build trust with customers. Overall, the conversation provides valuable insights into effective email marketing strategies and the importance of consistent follow-up.

Takeaways

• Invest in a professional website to enhance credibility and attract customers.

• Integrity is crucial in building trust with clients and customers.

• Personal branding can significantly contribute to business growth.

• Email marketing remains a powerful tool for building relationships and generating leads.

• Speaking engagements can be an effective way to connect with potential clients and showcase expertise. Email marketing can generate a high ROI, even if it's a quarter as good as the industry average.

• Storytelling is a powerful tool in email marketing and can greatly improve its effectiveness.

• Consistent follow-up is crucial in building trust with customers and increasing conversions.

• Outsourcing tasks that you're not good at, such as fulfillment, can help your business grow faster.

• A good CRM can automate follow-up communication and make it easier to stay in touch with customers.

Sound Bites

• Do not underestimate the power of a great website to boost your bottom line.

• Integrity is utmost in what we do and breeds customers and clients who will believe in you.

• 97% of people will judge your business's credibility based on only the design of your website.

• Imagine spending $1 and getting $10 back.

• Email marketing that works is storytelling at its finest.

• Email marketing is the only way to go.

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VastSolutionsGroup.com

Phone: 415-212-8189

Email: info@vastsolutionsgroup.com

Monday-Thursday 8:00 AM – 5:00 PM (Pacific)

Thank you for listening!