003 | Michael Wilding | Shoe Designer, Racing Pundit, Online Businessman & Adventurer
From a theatrical background, high-end shoe designer Michael Wilding taught himself a successful system to make money from horse racing online before going on to teach others how to do it too. Michael is an Infusionsoft “power user” and taught Nicola Cairncross some amazing things you can do with Campaign Builder that make internet marketers sigh with envy!
My name is Michael Wilding and I make a living online.
In my career I have worked as a professional actor, senior footwear designer, professional bettor and internet marketer, as well as a variety of other short-term and rather humorous jobs which you will find me writing about occasionally in the pages of the site!
Internet marketing has allowed me to combine all the skills I’ve learned throughout my other professions in a unique way to give me a different view of how we can use marketing to build relationships that allow us to communicate on a personal level with our readers.
My personal life has been no less exciting. I’ve recently got married and the third person in our family is BeeBee, our Staffordshire Bull Terrier. My passion outside of work is for travel, having been to over 50 countries and trying to get to at least one or two more every year. During these travels, I’ve been chased through the streets of Bangkok, been homeless in Cape Town and evacuated by the military from a Mexican jungle!
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Nicola: Hi, I’m Nicola Cairncross, and you’re listening to the Money Gym, podcast. Where I interview successful entrepreneurs and investors and ask them, if they could go back in time and give their younger selves one big tip about money, what would it be?
I really hope you enjoy the show. Michael Wilding describes himself as a shoe designer, horse racing pundit and adventurer. From a theatrical background, high-end shoe designer, Michael Wilding taught himself a successful system to make money from horse racing online, before going on to teach others how to do it too.
He’s an Infusionsoft, power user, and he taught me some amazing things you can do with Campaign Builder that make internet marketers sigh with envy.
In his career, he’s worked as a professional actor, senior footwear designer, professional bettor and internet marketer, as well as a variety other short term and rather humorous jobs, that you’ll find him writing about occasionally on the pages of his website.
His personal life has been no less exciting. He’s recently got married and had a baby, and the fourth person in their family is BeeBee, a Staffordshire Bull Terrier. Mike’s passion outside work is for travel, having been to over 50 countries. And he tries to get to at least on or two more every year.
During those travels he’s been chased through the streets of Bangkok, been homeless in Cape Town and evacuated by the military from a Mexican jungle, on the brink of death.
What about your business money, how have you been with money all your life, and are you good with it now, do you look after your money or do you have act or something ?
Michael: I’ve never been shy of spending, but at the same time, I’m always been cognizant of what I’m spending it on. So I only buy things that, I pursue that have value, I wouldn’t buy something just because I wanted it, whatever the price tag. I’m very conscious of actually, if it’s worth what I’m being asked for it.
I actually think, I mean it’s interesting you say this, because in my businesses, with other people I’ve known, in their businesses one of the things that I think, that a lot of people are actually scared to do, is invest.
I think a lot of people are scared to invest any money into it, because they’re worried, as you say, or we talked about it, it may not work which is obviously a very real and fair reason to worry about it.
But if you can afford that amount of money, and you know it may not work. Then I actually think, getting over the fear of investment is one of the biggest things.
So spending money on the right things and asking yourself, actually is it going to make me more money back? That can be either a product, but it could also be outsourcing, how much is my five hours a week worth, or my 10 hours a week worth? Is it worth spending that money, because I could make more, by doing something else?
Whereas, I think the numbers scare people, and instead of looking at it like that, they may get a course on writing killer e-mails. How to write killer e-mails? When you’ve already got 10 sitting on your computer.
Actually do you need another course, because probably all the information you need, you either know or you’ve got. So you’re only getting a tiny amount out of another course that someone’s going to write. Whereas actually if you sat down originally and gone, what am I good at?
Actually, I’m not very good at writing e-mails, that’s not my strong point, and I know that, and I’m accepting that. So in fact it’s better for me to get an outsource to write my e-mails for me, because they’ll do it faster. It will take them less time than me, and it’s going to free me up for another six hours a week. And during which time I can do something that I know that I’m damned good at.
Nicola: It’s interesting you say that, because I think this… I mean I’ve been through this whole thing. I’ve had online business for years and didn’t outsource anything. We either learned it in-house or we did it in-house. I think there’s a bit of a gap when people are starting to make a bit of money, and they needing that money to, or they want that money to live on.
They’re reluctant to invest as you say, because it feels like it’s the only spare cash they’ve got but if they can evaluate, am I likely to make more than this back within a year? ‘Cause I think like a property investor, because that’s what my background is, is wealth creation and learning about compound interest, and return on investment through property and things.
So I always think to myself. Am I spending this money on something that’s likely to bring me back more than this money within a year? If so, it’s a 100% return on investment, and it’s a good deal.
Michael: There’s a really interesting saying, which I think is Japanese saying, it’s not a saying, it’s an outlook even and that is, when you look at the price of something, you should look at it from the perspective of, how often are you going to use it and divide it’s worth across the amount of times you’re going to use it.
So for example, let’s say you’re going to buy a £2,000 pair of luxury shoes that you’re going to wear once. That pair of shoes is going to cost you £2,000. Now I’m going to buy a car that I’m going to use 200 days of the year, 30,000 grand, but it’s going to last me for 10 years. So I’m going to use this car 20,000 times, it’s actually costing me a £1.0 a use. Where’s the shoes are costing me £2,000 a use.
Nicola: That’s a great way to look at it .
Michael: In fact the car is a better investment from that perspective in terms of what you’re getting out of it.
Nicola: Also there’s the emotional impact. I live in a centre of a town and when I was going through tough times, I didn’t really need a car, because I could go to London on the train, and I could walk everywhere in the town, and I could get a buss to Brighton. But actually what happened was, a friend offered me her car, she offered me to rent it and when I went to pick it up, it turned out to be a really nice Mercedes soft-top. The emotional impact of driving a lovely car like that, even if I only drove it twice a week, was quite dramatic.
I think you’ve got to weigh-up the emotional benefits as well. Having a nice holiday, that’s another thing, isn’t it? I don’t need to convert you to the holiday thing, you love to travel .
Michael: I think it’s a very underestimated thing, like getting away from your environment. How important that can be? Because in your environment you have, obviously everything around you, all the pressures around you, day to day, they’re always there. Then as soon as you walk out of that environment for a period of time, they disappear, and you get a totally different perspective.
A great example of that, is that when I’m abroad, I can do the same amount of work in four hours, that will take me 10 when I’m in my office at home.
Nicola: Because you’re forced to focus, aren’t you?
Michael: Exactly, I look at it and I go, this is what I need to do. It has to be done by this time, because I’ve got an hour. It is done, you just focus and do it and the worries around you kind of disappear.
Nicola: You’ve been listening to Nicola Cairncross, on the Money Gym, podcast. If you’d like to find out more about the Money Gym, and how we can help you become more financially intelligent, just come on over to www.themoneygym.com. We’ll see you over there.
If you want to get control, get out of debt, make more money then grow that money by becoming a confident investor, check out the amazing offer we are making around “The Money Gym” book today!