Entrepreneurship requires a full commitment to one’s own ideas.
As the president and owner of Tweed Financial Services, Rusty Tweed has utilized his extensive expertise in financial planning and investing to assist countless clients in developing a sound, individualized, and goal-oriented plan for securing their financial future. Rusty, serves as the president and CEO of TFS Properties, Inc., a licensed Real Estate Brokerage specializing in replacement properties for 1031 exchanges, has close to 25 years of experience in the financial services industry and is known for specializing in estate planning, asset management, new business development, and investment properties , along with many other areas of professional expertise. In addition he is the founder of Mold Zero, a unique company for mold elimination with offices in Los Angeles and Clearwater, Florida.
Rusty has been a resident of the Greater Los Angeles area for 30 years. Originally Rusty grew up in Waterloo, Ontario home of the prestigious University of Waterloo. This is where Rusty studied Mechanical Engineering in the early coop program that spawned RIM (the Blackberry) and many other high tech firms, making Waterloo the high tech capital of Canada. As a firm believer in the almost limitless value of education, Rusty regularly shares his industry knowledge and experience with others through several mediums, including his digital publication, Tweed Economics. Rusty also hosts educational courses and seminars covering a wide range of subjects that include finance, taking advantage of tax regulation and investment strategies in real estate.
Where did the idea for Tweed Financial Services come from?
Back around 1989-90 I was buying and selling foreclosures. When the real estate market tanked in 1991, I decided to branch out and started Tweed Financial Services.
I realized that financial planning was needed alongside real estate investing to assist people in a more comprehensive over view of their financial future. Being totally focused on just buying and selling properties was not enough, which is what the real estate downturn back then taught me. You need an overall plan which included retirement planning and estate planning alongside income needs.
There is just no way around it: Financial planning is complicated and just about everyone can benefit from access to the thoughtful and detail-oriented advice and expertise we provide.
What does your typical day look like and how do you make it productive?
I’m involved with several businesses, all of which require my attention on a daily basis. I’m an early riser and follow a similar routine each day to ensure I am as productive as possible. Before getting into the daily fray of business I work out, I’m a firm believer in looking after myself, so the first thing I do is a 45-60 minute exercise program. From there you’ll find me reading and responding to any emails I’ve received in the last 24 hours. I also do business across the country in all time zones, so quite often I’m on the phone early.
How do you bring ideas to life?
I thrive on details, so I am always collecting and analyzing whatever information I have available to me. I am subscribed to multiple newsletters, economic forecasts, real estate market analytics and often go to conferences around the country where I keep abreast of the current markets. Doing this on a regular basis allows me to draw those initial connections that lead to an important new idea.
What’s one trend that really excites you?
The ease of finding information through the internet has really been helpful in educating people about financial planning, and it is exciting to see how many people are committed to planning ahead with the goal of protecting their financial future. Unfortunately though, the internet is unregulated and one has to be very careful about the information one draws. Anyone can write anything on the internet, which leads to some crazy ideas being posted, but then there’s some real brilliance as well. Sorting through the good and bad is very important.
What is one habit of yours that makes you more productive as an entrepreneur?
I’m habitually analytical, and this trait allows me to be more productive through the constant review and evaluation of every aspect of my companies.
What was the worst job you ever had and what did you learn from it?
Even though I love math and the sciences, when I first worked in pollution control engineering, I quickly found out that being stuck in a cubicle 9-5 wasn’t my thing. I loved being analytical, but I also needed to interact with people and be in control of my own fate, which lead me in the direction of becoming an entrepreneur early on.
If you were to start again, what would you do differently?
My only regret is that I delayed founding Tweed Economics for some time, mostly out of the concern that I might spread myself too thin. Writing and publishing this digital resource has actually had the opposite effect and has instead helped me be so much more productive each day.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
I’m always in search of educational opportunities, so my recommendation is for all entrepreneurs to either become or continue to be a dedicated student regardless of the progress made as an entrepreneur.
What is one strategy that has helped you grow your business? Please explain how.
Writing articles, as well as hosting seminars and educational courses, has allowed me to connect with so many more people in a way that has helped my business grow.
What is one failure you had as an entrepreneur, and how did you overcome it?
Perhaps this is not quite a failure, but I had the opportunity to found several additional companies along with Tweed Financial Services. Instead of taking immediate action, I chose to delay these pursuits out of an abundance of caution.
What is one business idea that you’re willing to give away to our readers?
I believe that the ideas we are most likely to vigorously pursue are the ideas we come up with ourselves. Entrepreneurship requires a full commitment to one’s own ideas.
What is the best $100 you recently spent? What and why?
I’m always looking for new ideas that might help me better serve my clients, so I recently spent a little more than $100 on an educational seminar held in Los Angeles.
What software and web services do you use? What do you love about them?
Having an excellent CRM that is workable for your style and business is probably the most important. Also I insist that anyone working for me is well versed in Excel, it’s a must for anyone in business.
What is the one book that you recommend our community should read and why?
The Art of War, by Sun Tzu is excellent. Not that life is a war, but business is a game of strategy and Sun Tzu’s advice on strategizing has helped me immensely.
Key Learnings
- I believe that the ideas we are most likely to vigorously pursue are the ideas we come up with ourselves. Entrepreneurship requires a full commitment to one’s own ideas.
- My only regret is that I delayed founding Tweed Economics for some time, mostly out of the concern that I might spread myself too thin.
Connect:
Rusty Tweed on LinkedIn:
Mario Schulzke is the Founder of ideamensch, which he started a decade ago to learn from entrepreneurs and give them a platform for their ideas.