Creating Legacy Income with Her Kids in Tow

Hey there. This

is Laurel, and welcome back to laurels. Real Money talks a podcast about money. How do you make it? How do you keep it? How do you invest it? How Why use a team that's an integrated team in a very segregated financial services world? Most financial professionals, banking, all of it, insurance, they do not talk to each other. So we're that integration. We're that place where they're actually going to talk on your behalf, for you, your family, your legacy. Today, I have Megan Smith with me, and she and Orion brand new clients to big table, and she won a competition at the last big table of getting the most names, phone numbers and emails even interested in. So it was really cool. So she texted me back afterwards. She said, Well, didn't I win your podcast? So I said, Absolutely. So I invited her to come live. She's a stay home mom. I would say these, I think stay home moms actually are so relevant. I mean, they're raising brains, and you have seven of them. So Megan comes with seven kids, and she's also running a daycare, home daycare and some other businesses, so I wanted to interview her from that perspective. So if you're a stay home parent, or you are weren't wondering, what are the tools and skills how to do this? And then she's got a trajectory towards homeschooling, so a lot of good stuff. So Megan, let's start off and just give us a little background on how you got started. Obviously, you started having babies, and then what brought in entrepreneur hope, because a lot of stay home moms do a lot of activities, but they actually don't formally run a business. So give us some background on how you got there.

Okay, so I would say that originally, I've always kind of been an entrepreneur at heart, but daycare and homeschooling was not my original calling, so I thought, but being that I wanted to be a mother that was present and my children's lives, it just kind of came to a natural decision for me. It was just made for me whenever I had my children, and I still wanted to financially contribute to my household if I'm going to be at home and I'm going to be taking care of my kids anyways, why not help out some of their moms and dads out there and take on their littles as well? So that kind of put me on the path that I'm on now.

So talk a little bit about your upbringing, what shaped the way that you're parenting today and making these decisions.

So I come from a large family myself. There are six kids in my family, so eight and my family and I had very driven parents. Both of them were entrepreneurial. And for me, they taught us, if you want something, you gotta go after it. You've gotta do it yourself. So I think that that really instilled a hard drive within my system if you want something, no one else in this world is going to do it for you. You've gotta be the one to go and put your hands on it and run and go. So that's what

I'm all about. And how would you describe your family dynamics in a few words? But your your current family? You seven kids in a row?

Yes, I would say that we are a loving family, very ambitious and united. We were all we've always got each other's backs.

That's awesome. So talk about a typical day in the businesses. So you have a home daycare and what else, as far as So,

yeah, so home childcare, and then I would say, along with that, naturally comes a side party business. So I'm always throwing a birthday party or some special event occasion, so I do that on the side. Tell myself how to do all the balloon work, all the fun things, and then also with the childcare, I feel like that kind of just brings creativity. So you're always trying to keep things interesting, and, you know, on looking through a child's eyes. So that creativity part of the party business. Those kind of went hand in hand. And then my husband, Orion, I help him with a rolling video games trailer, which also kind of ties into that party business, yeah, and so, and that's fun, because it's not just a limited, you know, for children, adults can use it too. And then he also has a lawn care business on the side and handyman business. So we stay busy amongst all the things.

So talk a little bit about the the party business, because there's a lot of money in the party business. I mean, you could also run jumpy jumps. I mean, you do a lot of things, but you bought a it's actually like a trailer, isn't it? Talk about the

video? Yes, yeah. So that rolling video games trailer. It's an enclosed trailer that's climate controlled, so you can use it in the middle of winter, you can use it in the middle of summer. It doesn't matter what's going on outside. The inside is comfortable, however or however. If you have a beautiful day, you can let down the back of the trailer, and it just becomes kind of this open it's got six TVs total, and then two on the outside. And so you can use it for video gaming. And if you can think broad and creatively, you know that you can also use it for watch parties or Super Bowl gatherings, you know, fun movie events and things like that. So really, the sky is the limit there. You can use it for some. You think karaoke nights with the girls, so it's really TVs on wheels. That's just limitless possibilities there.

And so what's the revenue model on that? Since we're a money show, I always want to talk about the businesses. So we're going to come back to the home school, like the home schooling that's coming up, and ideally, we're going to make a deal that you help bring this into, at least around your area, those homeschool moms, yes, how to make your kids millionaires, plus you need to learn it for yourself. That's right. We'll come back over there. I want to stay on the video business to go, how did you just kind of talk to the financials of buying it? Because a lot of people out there they they want something else to do. I have other folks that are in the big table that actually they do set up the whole jumpy jump parties. I have others that have set up the fake the face painting parties, I know like, collectively, if you do it all, you're going to make the most money, including the catering of cakes and all the goodies. So talk a little bit about that, because it is a six figure party. Businesses are six seven figure businesses done, you know, expanding,

yeah. So originally we paid out 65,000 just that was the startup cost for the trailer. We did get a loan for doing that. And then you're looking at parties at 250 an hour is typically what you can bring in. So it really depends, honestly, if you can get it out there by word of mouth, right, fingers crossed, that's just hoping and praying, the sit and pray method, if you will. You've got to have a great marketing team behind you, so we are immersing ourself right now into someone that's on your team with Mr. Steve, so that way we can get some great marketing out there and really just kind of go out into our city. There's not very many of these out right now. So we're hoping that this is going to take off. We just bought it back in October of 2024, so it's still very new to us. But we're hoping that we get so many parties booked that we're just, you know, hiring on help left and right. So that's our goals. There

is there any colleges next to you? I was just thinking, it'll be fun. So yeah, yeah, rat and especially front and sorority,

yes, yeah, yeah. So we're hoping, Orion's hoping, to start going and parking at all the tailgate parties, see, so you don't even have to think as like, as far as rental for the parties. You can go sit somewhere where you're permitted, and you can rent by the hour, you know. So we've got tailgate parties. MTSU is right beside us, and then we also have Vanderbilt right up the road at Nashville. So lots of opportunity there as well.

Awesome. So I love that you have that and expanding. We're going to check back in on that, but let's go back to your home. Right? Motherhood mindset. Intro, you know, being a mom, obviously, with seven kids, full time job. So how are you incorporating right? New to the big table? How are you starting to incorporate the wealth into the conversation. Obviously, the kids are being raised around the business of the conversation. So talk a little more about the time and energy and how you spend it.

So for me personally, as far as the time and energy goes, I feel like I have to focus more on my energy throughout the day, just a complete process, because you have to spend the right amount of time right towards your own family, towards your personal growth, towards your business, and you have to make sure that all of this gets equal love and attention, so that way you don't lose your mind, if you will, right? So being a stay at home mom is hard enough, right? So then you throw a business on top of it, and you've got to make sure you're grounded. So for me personally, something that I would, you know, say works for me is I always make sure that I wake up early in the time so I can have my spiritual and my personal, personal just time. And I feel like that really helps me set the tone for the day. And that really helps throughout the day. If I find that I'm ever feeling a little bit overwhelmed or overloaded, I do my 10 breaths method. I know sounds little silly, right? You might do this with kids, but hey, it works with adults, too. So sometimes you just gotta take a step back for yourself, take a few breaths and go back to what I say is, I'm a list lady, so I've got a list. I go through it all day, every day, and if I can get to an end of the day where everything is checked off, that is the celebration. So I do not feel defeated when my list gets more on it than when I started throughout the day, because sometimes I'm adding constantly to the list. And that's what keeps me driven and going, is I always have something to do, and so I've got something to look forward to and something to drive me for the next day. So I feel like definitely having some sort of structure. Your structure might, might not be a list person, but for me, that's what works for me. So what

are other like? Routines, hacks. I mean, I would assume you you time block, right? Different things, different kids, different, you know, areas, yeah, yeah. So routines, hacks, systems, things that other stay home, parents that also want to be an entrepreneur, because it's a challenge to do both. So you're doing both, but share some of your wisdom and experience.

Well, I would definitely say I am more of a flexible and laid back person, so although I do have a structure laid out for myself and time blocks, as you will say, if I go past. Certain tie blocks or I use less and more of the other. Don't let that stress me out. So I feel like kind of managing that appropriately, and knowing that if you pass a certain spot where you want to be for the day, don't let that be an end game. It's not time to quit and start over, like, I mess it up. You know, days over days done. If I spend more time in one area than the other. For me, that doesn't mean like, Okay, we're done here. That means move on to the next and we'll catch up there when we will add it back to the list, and we'll get we'll get to that point. But I feel like, for me, I definitely nap time. If you have older children who are not napping, then there is still a thing that is called rest time people, okay, put their heads in a book, drawing words, anything of that sort, that will keep them busy, but just like a quiet mental break for the day. So that's a two hour period for me. And that is a two hour period where I get stuff done. PG version for you, Laurel, so that is where I can really focus. So I know I've got that two hour crunch period. And then another fact for me personally, once again, is I, I like to wake up early. As a mom, we all know as soon as you're awake right, the kids are calling for you, so wake up between 330 and 4am I know that's a little bit early for some but I make sure that I go to bed earlier than it before, because those morning hours are crucial for me, that's when I get my personal stuff done outside of my nap time. Also would say that making sure you have outside help. You can't get it done by yourself. You need team. And so for me, it's making sure that you have that set up throughout your week, whether that I could spend hours upon hours upon hours doing laundry, it's a mountain every day with nine people. And so you've gotta think, you know, what, if I can outsource this, even if it's to a younger child, then it might come in and more. So be a mother's helper if you can't afford a cleaning service, well, there's ways to get around it. Think about, you know, you gotta think outside the box. So there might be another sweet little homeschool girl who's at home and she's looking to make money, and this would be a great person to bring into your home, and she could help you fold laundry while you're on your computer, doing business out of things for whatever it is that you're looking to do outside of the home. So those are a few things that help me

and what are your non negotiables? I love this question. Your non negotiate non negotiables are core values that you're instilling in your kids. Because I started doing goals and values with my kids at three, four years old, like, really young. And it's remarkable watching them as now 18 to 26, year old, you know, adults, right? My daughter's going off to college, and I just, I watch her behavior, and all that goal setting and all that time blocking and all that, you know, value structure, it just keeps, you know, it's, it's deep in their roots. So yeah, a little bit about your non negotiables and core values. Because I think, I don't think so. I mean, having wrote this, what I really learned the most about this book, which you're going to be shocked Megan, is how few people parent because the phone, or, you know, an iPad, is usually the parent not like real activities. And like you said, real, real thinking about it. And I'm a huge fan, just so I want to reiterate one thing you said, and you went quick, is hiring the kids through the actual and again, not as don't pay them allowance, but through tasks. Is the way that I got my kids entrepreneur as well. So if laundry was the thing, which that wasn't my kids thing, but taking out trash, My son loved doing dishes, like all those things, somebody has to do them. You might as well hire the your kids to do them. So I don't want to walk past that, because that's an important one that you it just is so work ethic, I think, into the kids by employing them and getting somebody else would have to do so speak a little bit about that. Your non negotiables, the core values, the tasks, how that all plays in this critical that's really the anchor in my mind of how you develop the roots deeply in your kids. Yeah,

so I would say one of our non negotiables is we are a faith based family and household, and I feel that plays a lot into all of their inner beings and understanding just kind of where we come from, that we really we look at being kind and respectful and, you know, just giving gratitude for the things that we are given, those, those are all major things for us. And so, sorry, there, there we go. Sorry, I was reconnecting. Okay, sorry about that. And so don't

stop. So editors time block. Go ahead and edit that out really quick. That'll be great. So go ahead and start. And so, yeah, go ahead.

Okay, start back there. Okay. So, so being a faith based home is definitely one of our non negotiables that we kind of try to instill in all of our children. I feel that that really plays into their inner beings, just just knowing that kindness and gratitude towards the blessings and things that were given in this life. Yes, we do have to work hard for our things, and I believe that they understand that so me and Orion, my husband, we when Orion goes out to work a lawn care gig or even a rolling video games. Trailer. We've got, you know, little coach shirts that we'll put on the kids, and they're right beside him, helping him. They're pulling weeds. They're digging up things. I feel like this teaches children just what, what is worth, right? You can be given so many things in this life, and it's, it's nice for a child to learn that, yes, I can work, I can work hard, and that there is some sort of thing that's put back inside of me that makes me feel good about what I just did. I'm not saying that you have to work hard for everything you get. You feel like once you get things going, and the children can see everything initially starts with, you have to put the effort into it. You have to be the one behind it to get everything started. And then you can bring on help. So they see, they notice, whenever you bring on more team, right, that that's going to make your load easier and a little bit lighter. So I feel like just faith based, knowing the difference between hard work and just having gratitude for things in life, really big things that we hold dear to us in our family unit. So

what's evolved? I mean, you're pretty new to the big table, but what's evolved in your kind of understanding or now you are teaching your kids differently about money.

They are all my oldest two are already looking forward to renting a booth next Big Table event and selling something. They have been talking for the past, you know, since we've gotten home from Reno, right? They've been talking about, what are we going to sell? How are we going to market it? You know, Hey, Dad, can you help me make a logo for this? And so we're sitting here on the backside of things, trying to explain to them, okay, well, let's think and talk about, are you going to have to put money forward for this, or should we take pre orders? Don't you think that would be the smart thing is take pre orders, not put all of our money out for and so their minds the way they're turning I'm like, yeah, that hit me hard, too. Okay, I had to put everything out before I could bring anything back. So when I thought about the pre order, I'm like, Yeah, although this just makes sense. So this community has really brought a light, not only to me and Orion, but I really think just kind of turning the way that they're that they're thinking going my number two said to me, so we were doing some paper mache over the Easter months, and one of my children said, I can't do this. I can't make this perfect. And he said, well, there is no such thing as perfection, only progress. Am I? Am I right? Mom? That's what Laurel said. I was like, You know what? I'm not even sure if those are her exact words, but I think she would follow in line with you on that, because she does agree perfection is not a thing. So I was like, I just love how their minds are soaking it up. It's so much easier to take in when you're younger than when you're older, and having to retrain your entire mindset and the way your brain works. So I love that we're being able to kind of give that gift to them, that we're learning through your community well,

well, and I love that they're gonna have a booth, because that'll be so eye opening. You know, children have always been our charity. So those of you in our big table bring your kids, especially with the under 18 kids, and then get a booth that would be new to have the kids have a booth for a long time. That'd be super fun. Plus it just models again for a lot of the adults, bring your kids and keep them with you, assuming you're kind of walking through this book a little bit with your kids, and some of the steps and the checklists and things like that.

So that one is on my next read by list. I've gotten through three of the books we just started. So on this one is on my next reader.

This one, there's 87 points of a checklist, like never paying the kids in allowance to starting a Roth IRA to then the older ones. How do you employ them legally back into your company? So those will be things that'll be coming soon for you. And Orion Talk a little bit though, how have your kids inspired and influenced you to have to become greater? I know, for me, being a single mom, walking into parenting, knowing I was going to be a single mom with my son, Logan, you know, I took it on a very different way, because I immediately got help knowing it's going to be me. Am I building army around all of us and that support, but they become your info, inspiration and your influence. And I knew when I started I wanted to do legacy different, but it took, you know, really, until my son was almost in his 20s, before I really started writing about the legacy, because I needed to use it as my little experiment. So there's a part of that I know you as a mom of seven, they're influencing you and you're influencing them, but talk a little bit about that, I think that's that's what's beautiful about this arrangement and the way that you're parenting and doing this,

yeah, well, I think, first of all, people can be very close minded, just in general, to think that what they have right now in this world might be just what was handed to them. It was the cards, and it's what they've been dealt. And so I think really learning as a parent that what you have you can change, and even more, so you can change it for your child and for their child is honestly something that has really driven me and O'Brien, everyone should want better for their child, right? So if I. Say, Hey, I want to farm with 50 acres. I want a wedding venue. I want all these things. And then my son comes up behind me and he says, Mom, that's great, but I want a farm. And I want one fingers. I don't want you to be mad at that. I'm like, son, yes, I want you to have everything more than me. You know, I think that's great. So I think that it really for me and Orion both to think we kind of had this mind altering thing together where we were like, hey, what? Like, we're not dead. In fact, we are still young, and we are thriving. We're surviving. And so why are we not pushing harder? So I think that really finding your community has been a fire lit underneath to us, we're both already very driven people, and then when we found your community and just the the support that we could get there, it was kind of like, Alright, let's go, let's run, let's roll. And so knowing my dreams have gotten way bigger, my what I want to leave for my children, I mean, I don't even know fair minds could fathom for it, you know, and for their children and their children's children so and I believe that your point of like, we've gotta teach our kids this, if we don't teach our kids this, if there are children out there just inheriting wealth, what did that do for anyone that's not going to do good for anyone? And so I want to make it a purpose and a goal for me, when I look at wealth, for me, it's, it's more like it's freedom. Don't want to have to take a quote, unquote vacation. I want to live my vacation every day of the year. I want to be able to do what I want when I want to do it. And I want my passion to help drive that. I know that, you know, that takes some work to get there, but that is, that's initially, you know, that's the the goal, the end game. And I want my children to know that where their heart is and where they feel like they're led to be stewards for that. They can do that too, you know. So I feel like with them watching me and Orion do it, that it's just going to be appalling for them, and it will, it will come naturally to them. They won't have to retrain or rewire their brains to get there. So I'm very hopeful and excited to see it happen

well, and they'll just layer into your legacy, right? And I think one thing I just want to acknowledge, too, about what you said, is, so many parents, you know, set, like I said, an enormously high bar, but my kids bar is to out, like, they can't wait to, like, 10x me. I mean, especially my son, he's like, Yes, done great. Watch me. I mean, so yeah, give that back because they feel like there's a threat. So just want to acknowledge the parenting and the work you're doing, and we'll be back in touch with you. Uh, people want to follow you on social media. How do they follow you? And we'll put that in the show notes for those of you that have been watching, and I'd say the beginning of Megan's story, and we'll watch his success as she grows with this yes community. So social media for them to follow you if they'd like to Yes. So

I am on Facebook as Megan Smith, down in the middle Tennessee area or Nashville, Tennessee. I'm not sure where it shows on there. I'm also on Tiktok as at MAMA Meg underscore, oh, seven. And then my Instagram is the same as my Tiktok. I'm not as active on Instagram, but I am more active on Facebook and Tiktok,

okay, well, we'll stay in touch. We appreciate you being here, and we'll continue our conversations about how you're going to get this make the kids millionaires even further into the families of the country in the world. So thank you, Megan and those of you that Thank you. Thanks for listening. We are here every Friday on the new podcast. We'll be back next Friday with another big message from another guest. If you have any questions at any point, go to ask laurel.com A, S, K, L, O, R, a, l, ask laurel.com ask a question, make request. We'll be back next week. Do.