Franklyn Rosario, MBA is the President and CEO of MyLifePlanUSA.com
Aside from simply being an amazing person, mentor, and colleague, Franklyn's core values are community and education. His company provides financial planning for businesses, medical professionals, sports professionals & celebrities. Their focus is on protection, accumulation, real estate investment, and retirement. In addition, Franklyn has a skilled team of financial experts placed strategically across the United States.
Meet Franklyn at the Millennial Money Matters Summit 12/12/2020 @ Noon EST.
~Click here to join the conversation or rewatch the event~
This interview was transcribed from video with some gentle editing for clarity.
Franklyn, a lot of your thought process comes down to this entrepreneur mindset. How has an entrepreneur mindset helped you be successful? How do others begin the journey, and how do you suggest other people build that same thought process?
Yeah, that's a good question. So believe it or not the first secret sauce to that is actually a vision. Before you go to bed, you need to write three personal things that you will accomplish, and at least three business things that you will accomplish. That way when you wake up, you already have that.
Right before we had this conversation earlier today, I was just watching a video on YouTube that was explaining this. There's a phenomenon I'm explaining to you right now, in which, when you have a vision, you write it down, the more you talk about it, the more you write it down, and not only write it down one time, I want to do this, it's like wake up every day writing it down, write it down, write it down, what is your vision, what is your vision.
Aside from that, it's kind of funny because an entrepreneur is not made out of money, it makes money. It has creativity, but that creativity comes from having that vision, having the gratitude and, and having the thought process and having that hope and belief. At the same time, when you put all those together it's work. It's work because you know, even to read something, it's time, it's work. To write something, it's time, it's work, you know what I mean? The most important thing, the icing on the cake is finding a good mentor. Because it doesn't matter how much (of a) entrepreneurial mindset you have, if you don't have a good mentor, it may take you a while. Finding a mentor these days is not that difficult. You can go to YouTube. There's a lot of people that are talking about how to do this, how to do that, how to build a business. There's Jim Rohn. There's Dan Hardy. That's how I started.
Of course, reading and listening to books will help you to get on the entrepreneur rollercoaster because it is a rollercoaster. It's not something that you run in a straight line. It could go up, it could go down. I'll give you a perfect example. I spent five years preparing myself to open a business in which I'm going to be in the community helping everybody. I opened in January, and then we had a pandemic. I had to close down and I came back home, spoke with my wife, "what are we going to do?" And I say, "well, I want to create a business where we can help people plan their life." And that's how we come up with "My Life Plan" The business has everything that I already do, which is financial planning, life insurance protection, we're going to add there too, in the near future, car insurance, pretty much anything related to insurance and financial planning as a whole.
It takes time, and I did not do all of this, even though I know, some of those areas, one of the things that I do remember from my MBA classes is that you have to know when you do something, or you have somebody else do something. When you take that aside, as an entrepreneur, you know, and you say, hold on a second, I'm gonna make some money, I'm gonna find somebody who can build this, who can do this for me, when you think that way, things are going to become more possible. As an entrepreneur, sometimes, people have an idea or want to create a creative idea. But they don't, because they don't share the work. They're trying to do everything themselves. And that's a recipe for failure, there.
The Millennial Money Muse