teaches Robert about food deserts and indoor tower farming and the importance of developing programs nationwide to not only end hunger but to create systems that make healthy options more convenient. Convenience has risen up and in many low income neighborhoods there are a plethora of fast food options but no healthy options and this leads to a rise in the incidence of diabetes and other food related illness. THis is not a we should this is a we must make healthy eating more convenient and sustainable.
A little bit about Felecia...
Felecia Froe, MD is the owner of Money With Mission, an investment company focused on empowering professional women to build wealth and achieve financial freedom through social impact investing. As a real estate syndicator, Felecia has partnered with like-minded investors and has raised money for several social impact projects, including a residential assisted living home in Kansas City, Missouri focusing on providing elderly residents experiencing memory problems with personalized care. With her partners at the Eco Alliance Group, she is providing healthy food to food desert areas with indoor vertical farms and grocery stores. In addition to real estate investing, Dr. Froe is a licensed urological surgeon with over 20 years of experience. She has written many Best Selling books including "How to Create Wealth that Outlives You". Plus, she is an advocate for sharing the great work others are doing for their community through her podcast Money With Mission Podcast.
Robert Peterson 0:00
Our guest today is Dr. Felicia Froe. Felicia is the owner of money with a mission. An investment company focused on empowering professional women to build wealth and achieve financial freedom through social impact investing. As a real estate syndicator. Felicia is partnered with like minded investors in his raised money for several social impact projects, including a residential assisted living home in Kansas City, focusing on providing elderly residents experiencing memory problems with personalized care. With their partners at the echo Alliance group. She's providing healthy food to food desert areas with indoor vertical farms and grocery stores. In addition to real estate investing, Dr. Froe is a licensed urological surgeon with over 20 years of experience. She has written many best selling books, including how to create wealth that outlives you. Plus she's an advocate for sharing the great work others are doing for their community through her podcast. Money with a mission. Dr. Felicia Froe teaches Robert about food deserts and indoor tower farming and the importance of developing programs nationwide to not only end hunger, but to create systems that make healthy options more convenient. Convenience has risen up and in many low income neighborhoods. There are a plethora of fast food options, but no healthy options. And this leads to a rise in the incidence of diabetes and other food related illness. This is not a We should this is a we must make healthy eating more convenient and sustainable. Felice. It's so great to meet you. So great to have you on the show. Thank you so much for joining me.
Felecia Froe 2:35
Thank you for having me. I'm excited to be able to share with your audience.
Robert Peterson 2:40
And I want to thank our mutual friend Billy Keels for introducing you and man, he's such a wonderful, young man, I want to say young man. I'm a grandpa and he's a father. I guess I can say that that way. But what a great introduction. And I'm just looking forward to sharing your story. your passion with our audience. So
Felecia Froe 3:05
Billy and I have been friends for a while and I don't I guess I don't think of him as a young man. But he's kind of like my brother. So he's like, my, like, you'd have to be my little brother, I guess if we were gonna be in that family. So yeah, he's a young guy.
Robert Peterson 3:17
Fair enough. Felicia, we just start each episode with our guest, sharing their journey into this entrepreneurial space and the impact they're having and how they made that transition.
Felecia Froe 3:29
Okay, so as you guys heard, I'm felici. Froe MD. I did not start as an entrepreneur. I was thinking about this earlier, I was like, did I even know what an entrepreneur was? Or do I use that word? Back when I started into everything that I do medicine, particularly, and I don't remember I know I use it a lot more now, obviously. But my family, my father was a veterinarian or is a veterinarian, my mother's social worker are both very highly educated. And that's what they expected of us. And even back then my grandparents were very educated. And that's back in a time when black people were not educated. But they strove past all of that. We came very educated. So our family lineages go to school, get a job, work there till you retire, and then enjoy your life. That's what I knew. So that's what I did. I figured out what I wanted to do. And that's also a long story, but we can go there later, become a physician, become a urologist, and at the time, I became a urologist in 93. I was one of the first 100 female urologists in the country. started that whole practice and for those who don't know, urology has been primarily a man's field or it's a field that treats mostly male issues. Yes, women have urinary tracts, and yes, we do treat women and kidney stones and that kind of stuff, but mostly it's guys. So you can imagine it was a little bit of a struggle, a little bit of an interesting ride through residency, but once I got into practice, I started working mostly with female Urology. But in my practice, it was about two or three years into that when I just had this. This is not the last thing you're going to do or and and at the same time is this all there is. So that stay there was very scary. I've just gone through all of this stuff to become a physician. And now I'm at the maybe this isn't it? Interestingly, oh, I know what I was like, How do I get to this to the book I read Rich Dad, Rich Dad, Poor Dad, I got there because a friend of mine, we moved to Kansas City, we actually went into business with some other physicians bought a building, we were going to live in that building live in that building practice From that building. And we were starting another business and a woman introduced me to Rich Dad, Poor Dad. It hadn't occurred to me that I was an entrepreneur at this point at all. I'm a physician, I'm doing this thing that she introduced me to that book, I read that book, which was just like, Oh, it's so many terms that I hadn't ever really thought about that made so much more sense to me. And it was From that point, I'm going to say that I really, really began the entrepreneurial journey and working with this woman, Cheryl, who was in insurance, she owned an insurance business, she pretty much kind of started this business. It's not with traditional brand name insurance, she started an insurance company for truckers, building that business into something big. And now doing some real estate things too. But at that time, we were looking to start a Women's Health Center in our town. And that didn't go but it was the start of that journey for me working with her and working with another physician who we're both learning From her. That was where we started in Rich Dad Poor Dad, we played cashflow one on one, I got into real estate investing. And we built that real estate investing so fast. Actually, I started to take my first leap into investing in a single family house. One of my patients went with me to show me she was a real estate investor, and she never seemed to be working. So I wanted that. So she went with me to this first house and we went through and she said, look, look, if you don't buy it, I'm gonna buy it. If you buy it, we'll let you use our crew to rehab it. If you buy it, and can't rent it or start losing money on it. I'll buy it From you. So there's no loss there at all. That was our beginning. We built up to 18 properties in about two years in the 2006 2007 2008 timeframe. Okay, Matt, we lost all of those properties in that 2008 2009 2010 timeframe, basically, because we had a lack of capital and didn't exactly know what we were doing. We had read a book, we started doing it and just kind of got caught up in that whole situation. So that was our first really, really big lesson in investing to be well capitalized. And actually our first really big lesson in entrepreneurship, be able to keep your it's a cashflow game, it really is that I heard you talking to another one of your guests about bottom that was my bottom
Felecia Froe 8:19
lost all of our stuff. My marriage fell apart at that point in that not to say that that thing in and of itself was the end of my marriage or caused the end of our marriage, it was the time to end it and start all over again. So that's what we did. And I realized that I did want to do real estate investing. I thought that was the way to achieve the things I wanted to achieve, which was financial freedom and having passive income. thought at that time. That was the thing that I was supposed to be doing. From that long time ago, that first seed that got planted about this isn't what you're going to do for the rest of your life. This seemed like that was what it was where I was going with that. So go back in and over time realize kind of really like this just single family house thing. I learned about syndications and investing with other people and building a team. It's like, hey, I really don't like apartments. This is just kind of boring. And I can't resort to something like this which is good and like medicine, I can do it and I can be good at it. But it's kind of boring for me. I learned about residential assisted living, which was finding homes and building a home for the elderly to take care of them in a home-like setting and not an institutional like setting that struck me as a purpose. That was a reason to do something, not just to make money. And we built our first residential assisted living home shortly thereafter. And I had my company at that time called something else and working with some people working with a coach working with some really good business people was like this name that you have doesn't make any sense. I'm not even gonna tell you what the name was. doesn't make any sense. And just so happened, I had decided I was going to do a podcast and I had gone online and bought a bunch of URLs. And I bought money with a mission. And she said, Why isn't your name money with a mission because that's what you do. Everything you talk about is having an impact. It's about doing something for something besides money. I fought it, I fought it, I fought it. When I finally accepted money with a mission, it became like, Oh, what am I what was about? What was ing about is that this is who I am: money with mission, this company, investing helping people invest, realizing that you can invest to have social impact, and a financial return that's just became everything to me. And it was that once I got there that I really could start going in the direction I wanted to go of having a social impact. Plus helping people get a financial return. , so much more ups and downs. So that whole chain, that whole thing, that's the highlights of the situation.
Robert Peterson 11:02
Nice. So are you still primarily investing in residential assisted living facilities, or that that was the beginning,
Felecia Froe 11:10
That was the beginning. And no, I'm still trying to figure that model out a little bit, because we had bought one and we were running it and I decided I don't want to run an assisted living home and I want to either buy it and put an operator in there, or something along those lines. But running one is very, very challenging. And I was long distance. And it's just so much. In that timeframe, I met other people. So one of the things about being an entrepreneur and deciding that this is where you're going if you don't, I don't know, when I started calling myself an entrepreneur, I don't really remember that. But when you're doing something, and you have a reason you start working with other people in meeting a ton of people networking, and I don't even call it network, it's just going to events, you meet people. And I had met this guy who was interested in growing food and places where we don't usually grow a lot of foods, so indoor controlled farming, and he was starting a project. And he asked me if I could be the fundraiser for it. So I got into that project. And then we actually ultimately built a grocery store in the food desert. We actually haven't gotten the indoor controlled farming thing done but the grocery store and the food desert has become such a huge thing for me realizing getting food to people and just kind of the whole process of making that happen. And that and the impact that it has had on the town that we're in Tulsa, Oklahoma, is just amazing to me and so now I'm really working a lot into affordable housing and affordable housing with groceries intertwined into that model so that we don't create more food deserts in addition to building a model where we can put grocery stores and food deserts and those grocery stores can be self sufficient and profitable. So that's where more where I'm focusing at this point is that type of thing affordable housing with food good and helping people understand how to eat so that part is more my that's my medical side coming out and that one of the most first one of my most frustrating things with medicine is that and you were talking to it was your one of your last guests that I listened to Zack we're talking about the mind body connection and in traditional Western medicine we don't connect those things at all it is about fixing whatever body part is bothered at that point and not helping you understand what your mind is doing to affect that body part.
Robert Peterson 13:40
There's so many places we could go police YES
Robert Peterson 13:47
MAN Yes, you just Al , so my mother just spent the last four and a half years in residential assisted living and I'm just gonna share it openly that it's been a nightmare. And not because of the facility because of staffing and yes and poor management and so I don't need to go down that road. I just had to get it off my chest. But I'm glad that you've recognized the challenge and management and said let's go somewhere else and do something
Felecia Froe 14:19
different. It is very challenging because of the staffing model. My dad's wife was just in a bigger facility . they're building them now big but they look small on the inside when you're there. he was so unhappy with that because of staffing. He said just people are just in their state. There's a lot of problems. There's a lot of problems
Robert Peterson 14:39
and I understand staffing issues, their staffing issues across the country, their staffing issues across industries. I've spoken to a fight boy manufacturer to a young man who's doing events and event planning and they all say like we pay well. Well, we take care of our people. And we still, , so many challenges. And of course, the challenges in assisted living is obviously these are people that are at the end of their life. And they're like two year olds. And so they have a lot of needs, and they need a lot of care. You need people that are heart centered to be employed, they're not people that are just trying to make 20 bucks an hour. There's a huge difference.
Felecia Froe 15:24
Yes, there's definitely a difference. And you, though, there are special people that are meant to do that.
Robert Peterson 15:31
yeah, and they should be taken care of,
Felecia Froe 15:33
We can talk about a lot of things. As far as why it's hard to find people and the way our society is today, there's so many places to go with that. But that's all right.
Robert Peterson 15:42
You said that there are people there absolutely where my mom was also under hospice care. And once she was under hospice care, this was a different set of people that are caring for her and traveling From facility to facility. Those people ultimately saved my mom's life and saved her well being because the staff had actually abandoned the facility. The people working for the facility left it and left it empty with five residents that were there at that time. Yeah, craziness. But
Felecia Froe 16:11
oh, that's the nightmare. Oh, yeah, no, but
Robert Peterson 16:14
My challenge is that these things are popping up, obviously, our country's aging faster than it's been, it's growing and, and there's more and more people that need that level of care. But when a family like ours who's cash paying, we're not using Medicare, Medicaid, and you're spending the amount of money that we were spending Yep, they should be able to have staff, that they should be able to have staff. And so it's just a terrible other place that if you're listening, and you have a heart for that, this is an area where entrepreneurs need to step in and create great solutions.
Felecia Froe 16:50
That yes, that will and or whether it's a home, or if you're Have your parents when you're they're getting to that or even if you're young, and your parents are young, and your parents are doing great, start thinking about there's going to come a time, when they are going to need some help. And whether you invest for yourself or you just like, you have to have the money to make it happen. So however you go about it, somebody's in your house to help take care of them, you take care of them and don't go to work, whatever. Just think about all the reasons to invest. And I know we talked about it, we're coming out of school, we're taught to invest so that you can retire, a lot of life happens before you retire that you need money for. So that's my whole thing is that you gotta have it, you got to have income coming in multiple streams as far as much as you can
Robert Peterson 17:36
just had a conversation with a group of my clients this morning. And, and someone mentioned, yeah, I helped that 19 year old, , put $50 a month in, in the Roth IRA. I'm like, Man, I wish somebody would have told me to put $50 in a Roth IRA when I was 19. Yeah, because that would be, that'd be a huge thing. , our family was blessed that my dad did the thing, he worked his tail off for 28 years for the same company. And he saved 20 to 30%. From the time he was 40, he started late because he lost everything and had to start over but my parents had the resources for my mom to be in a facility that was $6,000 a month. That's not many, not many folks have that kind of mistake. Yeah. And our government is pretty much for good or for bad. The system is created now that you either have your own money, and you have to spend it to do it, or you're broke, and the government will take care of it and give you the same level of care, just so , the same level of care. And the sad thing is, there's lawyers out there telling you, hey, get rid of all this money, hide all this money and, and and be broke, because that's what's that's what's better for you to not have to pay for it. It's not a good idea. I wish our family would refuse to do that. But there are people out there making that recommendation. Yeah,
Felecia Froe 18:56
There definitely are people out there making that recommendation, but it's not the same level of care. As residential assisted living homes that are private pay only they're not even going to take folks that are getting government assistance. And it is definitely different. Imagine that you're paying, he's paying $6,000 a month and can't get good staffing. Imagine if you're getting, if you're good, $5,000 A month is what the government might be paying or $3,000 depending on what your parents need. And then , that just drops the staffing down there you have at least in our home, we had to have staff or one staff member for every six residents in some of these places. There's one staff member for 20 And so it's really tough, really hard.
Robert Peterson 19:43
But I like what you said. Let's get some investments. Let's get some real estate, get some assets that are earning rental properties that are earning and earning equity and and those are things that you can sell if you need to take care of a loved one and plan on that. And so I like that that solution is, is wisdom, ? It's just the
Felecia Froe 20:04
stuff to think about, even if you have an asset, cash flow, so you don't necessarily have to sell it, it's cash flowing for you. So you can use that money to pay for that kind of stuff. That's even better. So even
Robert Peterson 20:16
better, absolutely. Al . So one of the things you started early or started working on is women's health care, obviously, you are women in a man's world, and in a lot of ways, and now, you want to empower women and, and target women and let women know that, hey, there's a place for you to invest, there's a place for you to learn about investing. I'm a huge champion of this I, the idea that women have been in the household and, and having these roles where they don't feel empowered to invest, they don't feel encouraged to invest. I saw this chart that talked about money and talked about the areas of money and women are equal with men, when it comes to paying the bills, women are equal with men, when it comes to saving women are equal to men when it comes to understanding these levels of money. But there's this huge inequality when it comes to investing.
Felecia Froe 21:17
Yes, yes, women will not invest at the same rate as men. And there's probably lots of reasons for that. And some of them I've cited are a lot more risk averse, which I don't know if it's necessarily true. We spend a lot more time. So another little statistic is, we actually do better over time with our investing than men do. Mostly I believe, because we spend more time on the Front end investigating that and understanding it, before we invest. Sometimes we spend too much time putting it on, take a long time to pull the trigger and lose out on the opportunity cost. Because of fear of losing money, as opposed to fear, as opposed to the thought of gaining money so that we let our fears guide us a little more than the potential upside of something. And one thing I like to say is, money is not a finite thing, there's so much money in the world. And money can be made in so many different ways. And it's just too for us, we have to it's our mind set with money, who thinks just thinking of money as a thing to have, and I have it in my bank, and it looks pretty and like go to my bank account, it's got this many zeros or whatever, that's doing nothing for you, you're actually losing with that one, because inflation is taken away From you. So having your money out doing something working for you, just like you're out working for money, let money work for you. And then you do better in the long run. You really do. So
Robert Peterson 22:51
There's two parts to that. one is we've got an entire generation that was taught not to talk about money. Yes, it's typically lower income, middle income. , we don't talk about money. We don't say when they get into a marriage, they don't talk about money. They don't make plans with money. They're just working for money they've been taught now, your value is based on what you can earn per hour. And, and we're not having these conversations about how money works. We're not playing cashflow one on one and learning that whoa, wait if I buy a restaurant and it does this, and I get more money, and really even monopoly monopoly is really cashflow when I want things in the focus level. And yes, and people get caught up in it, we've created a culture of spenders, rather than a culture of people understanding that money is made to work, money is made to do something for you, rather than be the end game. And even looking at my dad's investment strategy. And, and they did a great job, they did fit that they did exactly what you're supposed to do. And we'd go to his investment advisor and they pull up the computer and they pull up a chart and say, well see if you live to your 95 this is where you got to sell the house. And if your expenses are at this level , you have to sell the house. And then is that what it's all about? Is this this? Well, if you lived in 95, you got the exact amount of money to maintain your lifestyle. Yeah, versus having the cash flow and, and other opportunities to leave legacy and think beyond these retirement years. And just plan for retirement. Is there , first of all, there's a problem with that because my wife nearly died last year and and if she had she's, she's not even 50 yet and so all those retirement plans working her health to the bone and hating her job and feeling miserable in her life. And that mind-body connection is impacting her body and her future. Yeah, yuck, wait. That's not the that's not the end game. And so people need to think bigger with their money they need to Think bigger with their opportunity and, and not get so fear based in their decision making
Felecia Froe 25:06
100% agree and that the thought of, , it's that whole thing of you work, work, work, work, work until you can retire. And like we said, so many things happen in between starting work and retiring, that may require you not to work as much. , we have the wage gap of women making 80, I don't remember the number 83 cents for every dollar. And part of that is about, we have to leave the workforce at some point, many of us have to have our children take care of our children, maybe take care of a parent or somebody else who needs care, then we get back in the workforce and we're already behind. As opposed to you start out and you're in the workforce, you put your money into something that's going to grow and give you more money, send you money with friends, lots of money just keeps coming back, he's coming back, and you're gonna keep spending because you have to, we have to consume. But if you if it's working harder for yourself than you are for it, you have more of it to do that with and more options in your life, to do the things you want to do. You don't necessarily have to put your kids in daycare if you don't want to, if you want to be great I'm not saying quit your job, if that's what you love, do it. I promise you, you'll love it more if you don't have to do it, you could do something else if you wanted to. That's the biggest thing.
Robert Peterson 26:22
Just having options We creating options where you don't feel like you're a slave to your job, , you're stuck, I got to, I have no option. I have no options. Americans feel like they have no options when they really do have options if they would explore them. And I love that. You mentioned the wage gap. And obviously, you mentioned a justification for the difference, ? Women take some time off to have babies, they take some time off to take care of their family. But in my mind, It's inexcusable that there's not more women at the table. There's not more women voices in the entrepreneurial space and in the corporate space. Because women bring a different perspective. And women bring a different expertise and a different skill set to the table in a different way, like you talked about women, women who are investing are in it for the long game, and they're not making. They're not making an emotional pull to protect the money like some men are. And that's interesting to me, because some of the reasons that at least the way the church would say women aren't qualified to lead aren't qualified to be in positions of leadership is because of the emotional side of the protector side or the Mama's side. And, and so it's interesting to me that the women actually do better. But that we're missing I know the church is missing out From my perspective of 20 years of ministry, not having women in, in the boardroom and in the room where the decisions are being made, that we're missing a voice, we're missing the piece and it and it breaks my heart that that's happening across the board. Although more and more like women CEOs, there are women rising up to those positions. But there's not enough, it's
Felecia Froe 28:04
It's happening. And the thought of this whole, that women cannot do it because we are emotional or whatever, what emotions are a part of everything, everything. So we all have them, we all have them. And if we can work together, it doesn't mean that women should lead everything. It doesn't mean that men should lead everything if we work together. , it makes me just like, How much better would we be? If we listen to each other? If we talk to each other? If we came to some, collaborate between all of us, and come up with a much better idea than any one of us could have had together. That's a world I would love to be in. That's just amazing to me.
Robert Peterson 28:46
Me too. Well, and obviously, part of the wage gap is this idea that you don't talk about money and the companies have gotten away with this idea of you can't tell anybody your salary. Well, that's BS, because now I'm sitting across somebody who's working the same exact job I'm doing, we're getting the same exact outcome. And , then I've got one friend who's really good at Excel spreadsheets, and he can do the work in two hours that somebody else takes eight hours. Yeah, it's like, wait a minute, what? Where's the fairness in that either and write and talk about what we're getting paid. That's one of our challenges now is we need to make it okay to talk about money. I want to talk about money. I want to talk about the interest rate I'm paying. I want my neighbor to know what fees I paid when I bought my house so they know what fees they should be paying when they bought their house. And making sure our mortgage rates are fair. If we're talking about money, a lot of this inequality goes away because they can't get away with
Felecia Froe 29:41
- Yes, exactly. 100% And even if you can't think about talking to your neighbors about your money, talk to your kids about your money, let your kids understand this the whole way it works.
Felecia Froe 30:26
And the other thing about my kids, they, I wanted them to see that life is not always easy. Things happen that make you have to figure it out, you have to pivot, you have to change course, because something didn't work out the way you wanted it to. So all that stuff would be to me if we just would start with our kids. Yes, they see hard things. They they are smarter than we give them credit for and can come back From things and we give him credit for things that have to be protected and bubble wrapped and all that because the kids are here to save us, I promise you and we have to give them the tools to do
Robert Peterson 31:03
that. Absolutely. Well, I , it's interesting. We were missionaries. We lived in South America for 10 years. And everybody the first question was always How do your kids handle it? Like, whatever, my kids are fine. Like they learn Spanish naturally faster than I could, they stick out to me they they travel is normal to them. This different culture is normal to them. They aren't kids, my kids don't have any issues. I've got all the issues. I'm the one that's a mess. I can't figure this out. I'm the one who wants to learn Spanish. I gotta take a nap every day. Like, what about me? I love that you want to. So I'm a big mindset coach, I deal with mindset all the time and so much trash about money is planted by our parents. And intentionally like, yes, they go to the store and you want a little toy and your parents say we can't afford the can't afford that though. Instead of saying, Remember, we've got to pay for the mortgage and the water bill and the gas bill, electric bill and so so really, we could afford that. But then we'd have to give up something else, or things or having the conversation in the real world with real terms. So that kids understand that, Oh, I I understand how money works. You can't just we can't just spend it at random on a toy because we've got to do all these other things. Or conversation. It's quick and easy to just say, oh,
Felecia Froe 32:22
we can't afford it. It's easy. That's the easy or this the same thing. parenting is challenging us. So sometimes it is because I said so because I don't feel like going into that now. Sometimes it is. Most of the time to me there's a conversation around it. We can't afford it. That's not an answer. How could we afford it? Do we have this, this, this and this and this to pay? How do you think we could afford to get that and let your kids come up with creative ideas on how they could actually get that? Well, maybe if I did this, maybe if I did that, maybe if this happened, we'd have more than I could do. That's the way you get your kids to really understand how money works to me. Just that changed that little bit of the phrasing. Well, how could we afford it? Then you gotta go through all the things you have. So they can see that they're like, oh, I don't know, Mom, I don't know how we could do that. I don't know, Dad, how could we do that? Oh, but empower. Empower.
Robert Peterson 33:20
Empower that mind to come up with creative solutions? And man, you just never know, the options that are? And that questions the power of curiosity. And that seed of curiosity and your kids and, , I, one of the guests I've had on they were planning a trip to England and they're going to Harry Potter and so the kids are asking for ice cream. And there's a well we can choose: we can have ice cream today, but we're going to miss out on some spending money when we're in Harry Potter's wizarding world. So which, which would you rather have and, and the kids were like, I want ice cream like, yeah, so they still might choose ice cream? Yeah. But at least now they've got it, they've got an option and they got an understanding of the sacrifice they might be making and there's too much in our world of taking away the consequences. Yes, yes. Yeah, we as a culture have been trying to take away the consequences of mistakes and the truth is there's consequences when you make mistakes, there's consequences of losing a game there's consequences of failing and running out of money. But yet, if you're having that conversation, and you're showing the kids look, I we we got into this this investment stuff and we ran ourselves too thin we didn't have enough cash flow and, and and we're starting over like, I'm so proud of my dad twice our family moved back into mobile homes and started over and my parents my dad was a steel worker and union job in the 80s. And in 1982 it all went away. And then they sold the dream house on the two acres of land and we moved to the big city again and bought a mobile home and started over Yeah, yeah. And it Yeah. Dad didn't talk about it as much because I, obviously his pride and everything else, but I saw it I saw what we did I saw that you're looking back as an adult at least I can say I saw it. Yes. And, and you can start over. Yeah, you can start over no matter what age you're listening to this, you can be in your 60s and you can start over and the monkeys out there, ? If you're somebody in your 60s, you've got so much expertise, so much wisdom, so much to offer the world, that there's people out there that need that wisdom and are willing to pay for it. And they will compensate you Well, if you put it out there in a way that they can consume it.
Felecia Froe 35:38
That's really interesting, one of the things that I was told as a physician, talking to other physicians, when I was talking about I want to do this forever, I want to go do this I want to do they like what else can you do? You're a doctor, that's all you do, that's what you do. And I actually bought into that for a while and then it clicked. It's like, wait, I became a doctor. I can do anything. But it's just sort of
Robert Peterson 36:01
the opportunity cost that the sunken cost fallacy is so big, so many areas in so much business. . And so most physicians, and I know, I know some , my mom, my mom worked for a physician and his son became a physician. And his son hated it. And, and well, his son now happens to be a really good comedian, and an announcer for American Ninja Warrior. Really, yeah, my mom worked for his father and he became a physician and he hated it. But that sunken cost fallacy implies that because of the investment that you've made, you can't stop and go and change it. And there's too many entrepreneurs, there's too many businesses out there focused on the sunken cost, instead of the opportunity. Yeah. And so they're missing out and you got past it, like you recognize, wait a minute, that's in my past, that's all bull. It's irrelevant. If I cut that off, it doesn't matter, I can still make a choice to pivot and do something completely new. valuable and so important for other people to hear.
Felecia Froe 37:14
I didn't think about it as the financial side , you just said the sunken costs the sunken cost fallacy, I'm more thinking about it, they thought mentally that we weren't, like, We're smart people, that incredibly smart. I can do a lot of things. I just gotta figure it out. And are there things I'm out here trying to do, like, I have no idea how to do that, of course, of course. And then I'd listened to somebody and I was like, okay, I can figure that I can do that. Okay, and or, or if you like, you don't want to figure it out. There's so many people out there wanting who love doing that thing you hate doing. So many, it's just, there's no reason not to take a step. If that's what you want to do something different. It's scary as heck, it's scary. Take it, and your wings are going to come out I promise just
Robert Peterson 38:04
so much power in what you just talked about, and entrepreneurs, solopreneurs especially feel like they've got to wear every hat that the chief every everything officer Yeah, and, and they'll never scale their business will never grow beyond their limitations. And, and if they cut off some of those things that they hate doing and and outsource them and hire somebody and pay somebody, they'll make twice as much because they free up so much energy and so much time and, and their heart can be in it because they're doing the thing that they really love. Yep. And so don't get caught up in this idea that you Oh, I'm the entrepreneur I got, I got to do it all I got to I got to do the bookkeeping and the accounting and I got it, I gotta go out and do the clients and the sales and the marketing. And no, you can outsource a bunch of that stuff and focus on the thing that brings you joy and passion. And so now you've combined your business with your outreach, you've combined your business with your conscious contribution to the community. And that's one of the most beautiful things that contribution is such an important part of that flow of money and, and making an impact in the community. And so I love this sustainable food in the desert and, and creating these farms in cities that can sustain and create food. So share more with me about your drive for that and how it's working and how you want to multiply that and scale that.
Felecia Froe 39:29
The interesting thing is we've just had a little bit of a setback, how sometimes you're working with people that just don't, it just happens you work. I've learned a lot of lessons in the past couple of years about how to choose who I'm going to work with. So recently, I've just had a little break up and, like, a couple days ago, it's been it still feels still has the sting of it. Or it's, , it's a part of the whole thing, ? It's like, Okay, I gotta get out of bed. I gotta move on. Yes, I lost money there, but I got it. Move on. I still believe in food, I still believe in healthy food, I still believe that people need access to healthy food. Before our grocery store came into this food desert, there were 15 fast food restaurants and a two block area stretch with no place to get fresh food. There's still 15 fast food restaurants, but there is a full service grocery store there now too. So you have a choice, you can go in there and get fresh produce, you can go in there and get fresh meat not already cooked, probably heavily processed food that's going to cause all the kinds of things in your life
Robert Peterson 40:37
that well in our country sacrificing health for convenience. , we're sacrificing a lot of things for convenience and convenience, convenience Trumps so many things in life if you're not intentional. People, too many people are living by default. And, their lives are going through the motions and convenience, in that model wins. Which of course in our free market, our free market economy that obviously drives businesses in decisions, we if we satisfy this convenience, if we can make it easier, they're gonna keep pushing the button and keep on spending their money with us.
Felecia Froe 41:17
Yeah, I guess my frustration with that part is that if we made it more expensive, people would buy better food. So we have good food.
Robert Peterson 41:28
I don't are good. Cigarettes and cigarettes are $10 a pack.
Felecia Froe 41:31
There's less smokers than there were before. There's less. Is everybody gonna stop going to McDonald's? No, people are still buying them. No, they are.
Robert Peterson 41:41
But I saw that. I don't know. I just saw it at a Circle K little gas station. I'm like $10 a pack. I'm like, Oh, my I liked it. Holy smokes. I had no idea. Like, I wasn't even paying attention. I know, not a thing in my world. But I quit when they were $10 a carton, I tend to like it, man, and I only smoked for a short time because it was just peer pressure in the military. And, once you're, I hope once you're educated that the majority of that you realize Holy smokes. This is the worst thing in the world that could be doing to my body but
Felecia Froe 42:16
didn't even taste good. The other thing is that it doesn't even seem like it's gonna taste good.
Robert Peterson 42:19
? Exactly. Yeah, no, there's nothing I don't know.
Felecia Froe 42:23
I guess maybe I'm optimistic that if we change our pricing structure to get healthier foods for cheaper that people would do it. Maybe the convenience will always went out. I don't know. I was part of a program here called Fresh RX food as medicine 50 diabetics out of control diabetics, we provided them fresh produce every two weeks and our results we did for one year we just finished our first year they lost over 200 pounds it might have been over 400 But I don't want to exaggerate so over 200 pounds a one C which is a measure of your how well your diabetes is controlled normals six we still we took people eight and above we had our best result was somebody From 14 down to six with just changes in their food so of course now they're a once the six they have less medicine which means they can they have more money because they're not spending money on medicine
Robert Peterson 43:20
will add more capability because they're not stuck. They're not stuck in his body that's rebelling against them they're
Felecia Froe 43:26
in that less risk of losing limbs less risk of heart attack less risk of the health care cost for that change. I don't even I don't remember the number so I'm not gonna lie but it was in the multiple 1000s double digit five digit 1000s of dollars well, and
Robert Peterson 43:45
That's a solution to a rising epidemic. This is not diabetes not going away anytime soon. And our culture is on a crash course with with a crisis ultimately insulin all drugs
Felecia Froe 44:00
do not fix it. drugs do not cure it.
Robert Peterson 44:03
We don't, we don't cure disease in this country.
Felecia Froe 44:06
We manage symptoms, we manage it and yes, exactly treat
Robert Peterson 44:09
symptoms, treats a disease. It's a disease care system because it's focused on disease and not focused on health. My god, you're the doctor and we aren't going down this road yet. And so I guess here we are.
Felecia Froe 44:21
It was the thing about medicine. It is the thing about medicine that I hate that the the business side of medicine is the hardest part because we are it is a business, you do have to make money, you have to cover your overhead you have to do all those things, but you're restricted on how much you can actually take in per person that you see because of insurance. So if you can't pass on your increasing costs to your patient, you have to get it From somewhere so you end up seeing more patients or doing more procedures. They actually do go together more. You see more people, more people are coming through, more people coming through which means you have less time with each one. Have them which means you're going to order more tests because you don't have time to really understand their problem and get that mind-body connection, helping with them. Help them understand that. So you order more tests, which costs more money, then they're on medication because there's no conversation about fixing it actually fixing the problem, we're going to treat that symptom. Here's your medicine for your high blood pressure, Here's your medicine for your back pain, Here's your medicine for your whatever thing, think of the thing of the thing. There's, well, how many drugs are advertised on TV, your social anxiety disorder, your whatever things what?
Robert Peterson 45:37
I can't even imagine the patient God, it's like Googling and taking it to the doctor and saying, I diagnose myself on Google and I saw you, I saw it. So I know that a doctor is gonna love it when a patient comes in and says, I need this drug because this person looks so happy on TV, and it'll fix all my problems. And but it's, it's back to that convenience thing. We would rather take a pill, yes, then change our lifestyle. Yes, we would rather take the quick fix, then do the thing that and so it's a culture. This is a cultural shift that has to happen. We have to care about health, we have to care about our body and how it impacts our mind. And we have to care about fixing living, living healthy rather than living for convenience and medicine is more convenient than the lifestyle change.
Felecia Froe 46:34
100%. Particularly in urology, one of the things we see is going into the bathroom too often. I just go to the bathroom too often. Well, number one, what's too often more often than my friends? Okay, so you go every two hours, believe it or not, guys, every two hours is a good amount of time to go to the bathroom. Especially if you're hydrating yourself. Drinking. Well, you go unless more than that. Okay, we'll talk about what you drink? I drink coffee all day long. Okay, well, so I'm probably not gonna make you a lot better. And it's just an irritant in and of itself. But I drink. I've been doing this all my life. Okay, well, now you have a problem. So you can either cut it back or you live with your problem. I'm never going to make you where you want to be. But I want a pill to fix me. Okay, here's the side effects of that medicine.
Robert Peterson 47:22
And the worst side effects, their side effects. Oh, yes, but the worst, the worst and it comes up all the time. Because I'm, I'm big into the mind. I understand. So our mind was designed to support this body and make the body feel really good. And, there's triggers in our mind that are triggered with anxiety and stress. And they've dumped cortisol and adrenaline into the body for fight and flight. Well fight and flight is designed to run away or get in a big ol brawl. Yep. And the majority of people are getting this anxiety and stress sitting at their desk or sitting at the couch. And their body dumps adrenaline cortisol brain dumps that into their body. And the body goes as they're sitting still, instead of not triggering fight and flight, not triggering anxiety and stress and choosing to react differently and recognize that they have a choice where the body can drink dopamine, oxytocin, serotonin, and these other endorphins that guess what, you feel better? Feel better? Yes. Instead, we're going to the doctor and saying, I feel sad. What can you give me and now we've got on top of the diabetes epidemic, we've got this epidemic of depression and anxiety that were popping a pill to feel better treat the symptom. Rather than have discussions about the cause and understand that guessing what this drug is going to jack you up even worse, it's going to make your emotions go look across the board. And so now you're not going to experience joy at the same level when you will experience sadness at the same level and, and so it's just more convenient, ? It's, I can take a pill to feel better instead of Whoo, I have to exercise or oh, I
Felecia Froe 49:05
I have to deal with this emotion I need to deal with actually actually deal with this
Robert Peterson 49:12
deal with the crappy life. I just read it for myself. Well, and emotions we've been , I don't know. I was told men don't cry. I was told not to be angry. I was told, suck it up buttercup. Rather than recognizing that these emotions are like a dashboard. It's like a trigger telling my body Ooh, something's happening.
Felecia Froe 49:29
It's happening on Yeah, wow.
Robert Peterson 49:31
Okay. Wait, I'm angry.
Felecia Froe 49:35
What's wrong with this?
Robert Peterson 49:36
My kids are irritating me. Oh, no, wait. I'm allowing my kids to have an expectation for my children that they're not eating. Can I change the expectation or can I change the children and we don't learn we don't learn
Felecia Froe 49:51
think about this at all. That's a lot of thinking there. That's a lot of thinking. It is.
Robert Peterson 49:55
There's a lot of thinking but, if we were taught if we were taught how Our emotions work the same way as if we were taught how money works. Yeah, imagine how much there'd be a few people that would lean in on that. you'd rather not take a pill that numbs. .
Felecia Froe 50:12
I can't imagine not wanting to treat yourself without a pill. But I know there's people that don't just don't ever and maybe you've noticed like I've noticed every time there's a new drug, that thing just blows up. And now there's a big problem with that thing because we need to be able to sell our drugs. So this is the thing I woke up the other night that this whole thing that's been going on for the past few weeks I woke up the other night and wonder why is my bed vibrating? What's happening here? I have this cooling thing on my bedside because this thing that's wrong turned it off. still vibrating is the fan air conditioners running is the fan like vibrating the house what's going on, turn off the air conditioner. I'm still vibrating with what is happening. I got up walking to the living room and now all of a sudden I felt my leg. It's like, oh my gosh, it's me vibrating.
Robert Peterson 51:02
Okay, this diagnosis is taking a while.
Felecia Froe 51:07
Okay, I'm gonna go back to bed. This is bad, this is bad. I've got way too much happening. I should not be vibrating. So I ultimately went back to sleep and woke up the next day and said I gotta get this out of my life. I gotta stop fighting this situation. This has got to go otherwise this is not going to end well for me physically. So seeing that is just , that was an extreme example to me, because I had never had that before. Lots of fight and flight is happening. Everybody has it, everybody hasn't. We react to the smallest things like a ding on your computer when you didn't expect to do that's a reaction that we have. We just act so fast that we don't even see it or feel it. And but it affects you
Robert Peterson 51:51
realize, realizing that there's actually a choice, the brain is actually waiting for you to choose. Yes, the brain is waiting for you to choose. And most people choose by default, because they don't realize that they can choose. And they choose the drama they choose. obviously like drama pays ? Television is full of all this drama that pays news is full of all this drama that pays because people absorb it Facebook and social Dr. Phil up because of all the drama that people love, they lean into the drama, they pay for the drama. But if you step out of the drama, and you choose the things that you're putting into your mind in it, that gives you more power to choose. Wait, the kids are doing something. Am I irritated by that? Or am I? Oh, they're just havin fun. Yeah. And then even processing the emotions ? Now I can recognize Okay, that's anger. Ooh, what's going on? I can ask myself, Oh, what's going on? Rather than, , go through the house throwing stuff around. Yeah, that's typical. Yes, because it's not my fault. And plenty of people. You hear him all the time. Don't make me angry. Wait, what? , tell your mother not to make me angry. Wait, how is she making you angry? Yes.
Felecia Froe 53:02
Why the whole victim is the victim and not taking responsibility is a big pet peeve of mine. And when
Robert Peterson 53:08
that whole culture, it's in our culture is saying that this diabetes, this is somebody else's fault. It's not your
Felecia Froe 53:13
fault. You're fat. It's not your fault.
Robert Peterson 53:16
So now we're now suing. We're suing Walmart and CVS for the opioid crisis. How on earth is it their fault? They're, they're just the pharmacists, they're, they're the distributors. They're not and now we're treating them like drug dealers, like we didn't. Big Pharma created the problem. Doctors are just trying to help their patients not be in pain. They've done exactly what the patient asked him to do to get me out of pain and helped me not be in pain. And they've got the solution. It's here. Yes. And now we're going to cut, we're going to blame the middleman, man. Yep. We don't want consequences. And we want to put the consequences on somebody else. And nobody wants to take responsibility. And that's the first step for everybody is to take responsibility.
Felecia Froe 53:57
It's no responsibility. It's your own finances,
Robert Peterson 54:01
man, if we take responsibility for our finances, and our time and our thoughts. And then, of course, now you mentioned a broken relationship. And that's the other piece our schools don't teach relationships. Yeah. And you talked about entrepreneurship is all about relationships. So now entrepreneurs are learning about money, they're learning about time, and they're learning about their relationships. That's why I believe entrepreneurs are going to save the world because they're the ones at the Front edge of this, of this opportunity of new food and, and health and, and, and taking responsibility for all these aspects of your life. And what an incredible opportunity to pass that on to our children. As entrepreneurs. Look, you can take responsibility for your time and you can take responsibility for your money and you can take responsibility for your thoughts and then you can take responsibility for your relationships. And you're taking responsibility for yourself and that's elevates you Due to the 1% Yeah, no point 1% probably goes,
Felecia Froe 55:05
That's huge, that is that, wow, all we could do. That was huge if everybody just would. And I said, just like, it's so easy, but it's not hard. You can do it.
Robert Peterson 55:18
It is easy, but it does take work. It takes work,
Felecia Froe 55:21
It takes work, it takes I'm hearing yourself and what you're saying to yourself, and how you're thinking and how you're talking to other people. If you just start noticing how people talk to each other, and just the words that they say like, okay, the words weren't bad, but just you could have put them together a little bit differently. And they are
Robert Peterson 55:40
sarcasm is so big in our culture. And everybody thinks that sarcasm is this cool thing. And, and we're throwing darts at each other.
Felecia Froe 55:48
It's such a passive aggressive way to talk Oh, aliases, just
Robert Peterson 55:51
in the worst, the worst happens in your family. You don't do that, you wouldn't ever talk to your grandma. That way. You don't talk to your workers that way. And yet you go home and talk to your family and yourself that way. Yeah. What are you doing? And I want you to think our marriage is trashed, because we're going home and we're being smartasses with our family. And, and, yeah, these are the people you're supposed to be lifting up and building up. And that's, so that's the name of my company. Add value to life, add value to entrepreneurs, because I want to lift people up. Yeah, , my marriage to lift my wife up, I want to make her better. I want to make my kids better. Instead of there's so many parents that are fearful of their kids being better than them, man, I want my kids to be better. Oh,
Felecia Froe 56:29
man, my kids are better than me. They are so much better than me. And my daughter, I have two daughters, 27 and 30. And they both give me so much. And just different ways to see things like well, even one time I sent my niece something, and she reacted in a way that I didn't understand why just watch you get so angry. I said to my daughter, what I said, she goes well, I can see how that could have happened, you could have said that a little differently. And it just made me look like, oh man. I gotta apologize to her for the way that came. But they are always so on me, always, always showing me different ways, different things, and ways to be more responsible even. And they are doing it. And we hold each other and like you said, lift each other up to be meta.
Robert Peterson 57:20
So just like, I told the story once From the stage about getting down on my knees and apologizing to my son for making, I was wrong. I made a mistake. And I want him to know that I own it. I heard him and I wanted him to know that. Look, I care. I'm going to own that. And I'm going to try not to do it again. Yes. I had people tell me, I would never, I would never talk to my kid that way. I'm like, what? It's never about power and control. Mike, my role as a father is temporary. It's a position I've been given responsibility for for a short term. Yeah, this human being has to go out and, and, and create a life of their own. It's not about power and control. And so many relationships end up being about power and control. And we all see where that goes. We'll see what happens when, when you exercise authority in that way. one of my big things, and I hope it comes through and podcasts on a regular basis is I'm a champion for getting rid of these categories that we obviously we're all in these categories, ? We male and female and black and white and and all the other minorities and we put people in these boxes and then and we say no, no, in that box, you can only do this or in this box, you can only do that and and it's giving us permission to devalue a person based on this category that we've put them in. And we know we're all humans, we're all human across the board, every single one, eight, nearly 8 billion on this planet. And what happens if we all start saying, I want to do something that helps other humans? Yes,
Felecia Froe 59:01
the human race. I'm like, I'm such a human race person. When you talk about racism, like what I thought there was only one human race and everything else is an ethnicity or culture or something else.
Robert Peterson 59:11
And, and let's embrace the differences, let's learn From the differences. And it's the same thing. I want to eliminate these gaps. There's no reason for these gaps. And sure there's, there's an education gap. women didn't get into the workforce until the 40s. they didn't get to go to school. what, there's so much smarter, there's so much wiser, there's so much instinct, intuition that they have that they bring to the table, even if they don't have an education, they have a really
Felecia Froe 59:40
muddy, yes. And that's one thing I really practice is I can learn something From everybody, anybody, anytime it doesn't matter what their education is, it doesn't matter. It doesn't none of that matters. Everybody has a different experience and asking questions and listening is the way we're we're going to solve have so many of our problems if we would just do that ask if you're not making an assumption that is exactly what to be curious, don't make assumptions that you understand where somebody is, by the way they look the way they dress, what they do,
Robert Peterson 1:00:13
Even if they're, that's the challenge is we make this erroneous assumption that our way is . Yeah. And so everybody else's way of doing stuff has to be wrong. Yes. Instead of trying to say, Well, you do that differently than I do it? How come? I've been in Africa watching people sweep dirt floors in, here in here, we wouldn't sweep dirt floors, most of the time. But yeah, it's just different. That's not wrong. They're getting rid of the dust. And for them, that's what , that's what they want to do. So just embrace the differences and, and learn to try to understand the differences. And, oh, that's actually really cool. Why do you do that that way?
Felecia Froe 1:01:01
That might make some sense for my life. Let me try that. Imagine that.
Robert Peterson 1:01:06
Felicia, chatting with these entrepreneurs, and I want you to share your big dream.
Felecia Froe 1:01:15
Oh, my big dream is? Wow. Well, in the food round, there's no food deserts, that everybody has access to get healthy food on a bigger scale, that people would come together and share ideas in a way that we could all work together to make everything better for everybody. So then that collaboration, instead of us cooperating for a little while doing this, let's do this together, students come together and throw out all the ideas. So we come up with a better idea than any one of us could come up with together and make whatever that thing is we're working on. Every but all of us have a thing we're here to do, all of us have a thing we're here to do better. Get with the other people that are here to do that with you and go, that's that's my dream of a better world, by everyone working together to create that thing. That's my big one. It's like I just, it just can happen, I believe it really can happen. Absolutely.
Robert Peterson 1:02:17
. So I just end every episode with you, giving you the chance to share your words of wisdom with these entrepreneurs that are listening.
Felecia Froe 1:02:26
I guess the biggest one is if you're thinking about being an entrepreneur, stop thinking about it, do it. Just put your big girl on big boy pants on and do it. You don't have to quit everything else before you do it. But take that step to start contributing what you're here to contribute. Because if you hear it in your heart, that is what you are here to do. If you're doing something already and you're hearing you should be doing something different. It's time to make that change. Do what you're here to do. And all the rest will fall into place.
Robert Peterson 1:03:00
So good. Felicia, thank you so much for joining me today. What a wonderful conversation. We went all over the place a little bit. it was very
Felecia Froe 1:03:09
fun. Hope. Yes. Yes, I hope it helps somebody I really do. That's why I love talking to people. I really that's a part about medicine that I really, really enjoyed was getting to meet somebody and get to know them and help them to understand a problem. And we just didn't have time for that on a regular basis. So I'm doing it in a different way.
Felecia Froe 1:03:28
Like it. I love it.
Robert Peterson 1:03:30
Thank you so much was just fantastic.