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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador

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Speaker 1: accused of murdering a Texas man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States

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Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 1: crossings are at the lowest levels ever recorded, and over

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Speaker 1: one hundred thousand illegal aliens have been arrested. If you

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Speaker 1: are here illegally, your next you will be fined nearly

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Speaker 1: one thousand dollars a day, imprisoned, and deported. You will

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Speaker 1: never return. But if you register using our CBP home

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Speaker 1: app and leave now, you could be allowed to return legally.

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Speaker 1: Do what's right.

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Speaker 2: Leave now.

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Speaker 1: Under President Trump, America's laws, border and families will be protected.

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Speaker 3: Sponsored by the United States Department of Homeland Security.

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Speaker 4: All right, guys, welcome back, ey l Maryland Edition DC Edition.

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Speaker 4: Actually yeah, shout outs to DC. Shout out the District

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Speaker 4: of Columbia for sure. So before we start, we just

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Speaker 4: got to think you guys, we had a crazy event

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Speaker 4: this morning, and you also had a crazy event as well,

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Speaker 4: so don't talk about that for sure. But yeah, yeah,

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Speaker 4: we had a crazy, crazy event. Day two will be tomorrow.

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Speaker 4: Well by the time you heit, it'll be over. But

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Speaker 4: the DC Weekend d m V Weekend was a tremendous

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Speaker 4: success in Atlanta. We're coming next. That's our next stop.

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Speaker 4: January twenty fifth and January twenty sixth. We headed to

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Speaker 4: the a Way. We're going to do it big out

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Speaker 4: there for the whole weekend.

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Speaker 5: So a big shout out to Capital Events Group Man

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Speaker 5: Tiarhani Dera Man, he did an amazing job putting that together,

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Speaker 5: So definitely shout out to him. Man, if you're in

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Speaker 5: the DC area and you need an event plan, hit

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Speaker 5: my man out.

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Speaker 4: Man the most the most important person. Yeah, sure, that's

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Speaker 4: that's a fact. That's the fact. So all right, I'm

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Speaker 4: excited about this episode for a few different reasons. A

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Speaker 4: lot of people they always tag us like who they

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Speaker 4: want to see. We try to accommodate as much as

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Speaker 4: we possibly can. So Kezia Williams, if you don't know,

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Speaker 4: she's the CEO of Black Upstart and yeah, she has

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Speaker 4: that signature.

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Speaker 2: Man, Listen, you're not drag it out.

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Speaker 6: Man.

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Speaker 7: It's like seven's and then the end like three's and

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Speaker 7: then like another.

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Speaker 4: Now she's really dope. She's a big proponent of financial literacy.

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Speaker 4: She's a big proponent of entrepreneurships, definitely in our community

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Speaker 4: and teaching, teaching entrepreneurship. She has a whole program. We're

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Speaker 4: gonna talk about that. So one of the things I

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Speaker 4: like about her, like if you follow her Instagram page,

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Speaker 4: is that she always like posts like these Twitter posts

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Speaker 4: that she puts up and it's like seven different ones,

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Speaker 4: so you always got to go to the sexual but

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Speaker 4: it's like real life you got left right, but it's

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Speaker 4: real life common sense stuff that people can use. And

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Speaker 4: a lot of times people they've been asking us like,

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Speaker 4: you know, we love all of this high finance and

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Speaker 4: stuff like this, but how do I pick my fall

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Speaker 4: one k? Or like how do I budget? Prop? How

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Speaker 4: do I start a business? So these are all things

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Speaker 4: that she posts like on a daily basis on Instagram

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Speaker 4: and I'm sure all other social media outlets. Is what

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Speaker 4: I follow on Instagram and also with her company, the

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Speaker 4: Black up Start, they help people start businesses, like they

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Speaker 4: give them the fundamentals of how to start a business, so.

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Speaker 5: Employ people, Like that's one of the things, like they

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Speaker 5: have a lot of entrepreneurs, but how many can employ people.

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Speaker 5: I think that's that's commendable that.

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Speaker 2: Though.

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Speaker 4: So so all right, so first and foremost, thank you

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Speaker 4: for joining us, appreciate it.

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Speaker 2: Thank you for having me. Congratulations to you.

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Speaker 7: Vote on your events, and I think all the Instagram

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Speaker 7: stories and it was like people upon people all this

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Speaker 7: black excellency, So we.

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Speaker 4: Had too of you. You had an event, Black Upstart

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Speaker 4: had an event, and then your legion had an event.

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Speaker 4: We didn't know we was having events, and so the

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Speaker 4: events was already set, but we had events at the

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Speaker 4: same time. Pretty much y'all. But it was dope. You know,

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Speaker 4: that's just that's just that's just that just means that

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Speaker 4: the energy is out there, and you know, it's the

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Speaker 4: time for for for financial literacy and entrepreneurship.

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Speaker 3: The communities already, man, so that that's even more so.

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Speaker 4: Can you tell us your journey how you became an entrepreneur, because,

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Speaker 4: like I said off camera, but you I like for

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Speaker 4: a few different reasons, but one of the reasons is

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Speaker 4: that you you have it. What we call like a

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Speaker 4: traditional job. We'll talk about that, but you have a

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Speaker 4: company as well. A lot of time people feel like

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Speaker 4: it's one of the other, right, and it's not true.

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Speaker 4: Like even Troy. Troy is an educator and he's an

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Speaker 4: entrepreneur as well. Entrepreneurs So, but the hardest part, I

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Speaker 4: think for most people is mindset. Like we will talk

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Speaker 4: about strategy and all that all day, but the mindset

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Speaker 4: is the most important thing. And it's very difficult for

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Speaker 4: somebody to leave or to jump off the porch and

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Speaker 4: to land. It is somewhere where it's kind of unknown,

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Speaker 4: you don't really know. It's like typewalking with no safety net.

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Speaker 4: So how did you start your entrepreneur journey?

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Speaker 7: Okay, that's a great, great question. So I like to

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Speaker 7: tell folks that the nine to five is a fixed income.

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Speaker 7: So you work eight hours, you get paid. Eight hours,

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Speaker 7: you work ten hours, you get paid, eight hours, you

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Speaker 7: work twelve hours, you get paid.

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Speaker 2: How many hours you get paid? Hey hour.

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Speaker 7: It's a fixed income. And it's one of those things

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Speaker 7: that I wasn't taught growing up. So like I was

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Speaker 7: taught that the definition of success was you go to

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Speaker 7: high school and you get a diploma, you go to college,

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Speaker 7: you get a degree, and then you go and get

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Speaker 7: a good government job with benefits, and then you retire.

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Speaker 7: And that's the definition of success, right.

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Speaker 5: Yeah.

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Speaker 7: When I graduated from college, I did exactly what my

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Speaker 7: mother told me to do, and I spent six years

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Speaker 7: working for the federal government and I worked in counterintelligence,

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Speaker 7: counter weapons, and master instruction counter terrorism. I had a

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Speaker 7: clearance a top secret sci full scope polygraph. Only thirteen

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Speaker 7: thousand people in the nation have that clearance. But I

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Speaker 7: would go to work every day at nine am and

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Speaker 7: five pm. I would run out as fast as I could.

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Speaker 7: And during the time when I would be off of work,

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Speaker 7: I would participate in endeavors that I started. And at

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Speaker 7: that point, I didn't consider myself an entreprene the words.

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Speaker 7: So one of the endeavors that I participated in was

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Speaker 7: Young and Power for Obama, which I was telling you about.

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Speaker 7: And this was an initiative that galvanized young black professionals

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Speaker 7: across the country to raise money for then Senator Obama.

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Speaker 2: This was in two thousand.

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Speaker 7: And eight, Yeah, when he was Senator Obama, and it

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Speaker 7: was young black professionals from six different cities.

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Speaker 2: We would host.

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Speaker 7: Fundraisers the fundraisers would cost anywhere between twenty to fifty

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Speaker 7: dollars and we would donate one hundred percent of the

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Speaker 7: money to campaign. Before he was elected, we raised a

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Speaker 7: quarter of a million dollars. And when he was elected

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Speaker 7: and became President, Barack Obama matha for President. We hosted

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Speaker 7: a collection of inaugural events. Reverend Al Sharpton came, We

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Speaker 7: had Jesse Jackson, he was there. Oprah she drove by

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Speaker 7: the car, she waved to the wave, counted one day.

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Speaker 2: Shake her hand. We all gonna take her hand. But

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Speaker 2: it was a great event.

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Speaker 7: We raised another quarter of a million dollars, so I

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Speaker 7: was about half a million dollars by time everything was

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Speaker 7: said and done. In the entire time, I was working

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Speaker 7: nine am to five pm, and I was working young

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Speaker 7: in Power for Obama from six pm to about one

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Speaker 7: am in the morning. But when everything ended, folks started saying,

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Speaker 7: you know what I mean, Raising money for President Obama

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Speaker 7: was great, but I was only interested in politics just

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Speaker 7: because of him, And so folks began to really ask

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Speaker 7: the question like what was next? And what came from

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Speaker 7: that is a nonprofit that I started, Capital Cause, where

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Speaker 7: I trained young black philanthropists to raise money for startup

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Speaker 7: nonprofit organizations, and we had five thousand members. We raised

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Speaker 7: about sixty thousand dollars and gave away five thousand dollars

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Speaker 7: grants to these businesses. And still throughout all of that,

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Speaker 7: I did not consider myself an entrepreneurs.

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Speaker 3: What inspires you to take that route?

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Speaker 4: Right?

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Speaker 3: You raised money for politics? What said entrepreneurs are?

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Speaker 4: Yes?

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Speaker 8: Yes.

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Speaker 7: So it was a six year worker for the federal

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Speaker 7: government and as I was telling Rasha, my boss is

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Speaker 7: switched up and I was working for white men at

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Speaker 7: that time. I switched up to a white woman and

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Speaker 7: we sat down and she said to me that, you know,

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Speaker 7: I don't think that you're qualified to do this work.

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Speaker 7: And I was like, well, why don't you think I'm qualified?

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Speaker 7: And she was like, because you don't have a pH d,

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Speaker 7: you don't have a master's degree, you have a bachelor's degree,

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Speaker 7: and here you are writing national security reports that the

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Speaker 7: Vice President of the United States are seeing. So I'm

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Speaker 7: about to switch up your job responsibilities. And she changed

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Speaker 7: our responsibilities from writing these reports to organizing travel for

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Speaker 7: the office. So I would go to work at nine am,

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Speaker 7: I get out of five VM and still get paid

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Speaker 7: six figures, then this will be okay. But then three

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Speaker 7: months later she switched out my job responsibilities again. She

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Speaker 7: was like, I just think organizing travel is too complicated

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Speaker 7: for you, just like national.

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Speaker 2: Security reports each complicated for you.

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Speaker 7: So now you're gonna be printing badges for people in

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Speaker 7: the office when non secure people come and visit. And

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Speaker 7: so I was like, okay, well, am I still gonna

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Speaker 7: be getting paid like six figures. I'll work from nine am,

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Speaker 7: I'll leave at five pm. And so did that for

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Speaker 7: three months, and then three months later she came back

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Speaker 7: and she was like, making badges was also too complicated

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Speaker 7: for me and above my pay grade. And she asked

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Speaker 7: me to take my chair and follow her down a

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Speaker 7: hallway and we stopped outside of a bathroom.

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Speaker 3: Oh like, literally take the chair.

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Speaker 7: Take the chair had wheels on it. We was walking,

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Speaker 7: she was tipping, I was tippling with my child.

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Speaker 2: I was like, oh, Laura, where are we going?

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Speaker 7: And we ended up outside of a bathroom and she said, well,

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Speaker 7: I want you to sit down and for every non

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Speaker 7: clear person that comes in, it'll be your job to

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Speaker 7: buzz them in and out of the bathroom. And I

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Speaker 7: remember asking myself and asking her, am, I still gonna

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Speaker 7: get paid six figures, but at.

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Speaker 3: That point question change.

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Speaker 4: I can never changed.

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Speaker 2: Because I was there nine am five pm. I was

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Speaker 2: walking out of the door.

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Speaker 7: But I asked myself like, YEO, it was great being

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Speaker 7: paid six figures, but you know, work to me meant

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Speaker 7: more than that, Like the value that I was creating

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Speaker 7: outside of work, raising money for Obama, helping young black

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Speaker 7: philanthropists give back, that was the work that was really fulfilling.

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Speaker 7: And coming to work every day and sitting outside of

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Speaker 7: the bathroom watching people. Well, I want to watch people

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Speaker 7: do their business, but they were going there watching the.

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Speaker 2: Door when they were going hit it out. They need

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Speaker 2: their business.

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Speaker 7: But so after about two weeks, I called it my

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Speaker 7: mom and I was like, Mom, like, I can't do

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Speaker 7: this anymore. I need to quit my job. And she

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Speaker 7: was like, do you have anything saved up? At that point,

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Speaker 7: I had about three months worth of savings and she

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Speaker 7: was like, well, babe, I think you should have another

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Speaker 7: job lined up. And I was like, I don't think

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Speaker 7: I can do it, Like I can't come in here

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Speaker 7: every single day and open this door for people.

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Speaker 2: Yeah, exactly.

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Speaker 7: And she was like, well, if you want to quit baby,

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Speaker 7: like I got you. And I remember quitting my job,

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Speaker 7: like I quit my job, but I was so excited.

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Speaker 2: Have y'all ever quit it out before you could job? No,

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Speaker 2: you could, y'all.

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Speaker 4: I did.

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Speaker 3: I did quit.

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Speaker 2: How'd you feel?

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Speaker 3: It was great?

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Speaker 8: Yeah?

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Speaker 7: I mean I felt excellent, Like I went running out there.

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Speaker 7: I was like, oh my god, I am so free,

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Speaker 7: like no more than nine a five?

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Speaker 3: Right, yeah?

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Speaker 7: But then Friday hit. I was like my friends time

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Speaker 7: that I wasn't getting paid. I was telling her shod.

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Speaker 7: I called up unemployment and I was like, I guess

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Speaker 7: I better get on this unemployment and get this check.

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Speaker 7: I remember talking to the lady. I was like, yeah,

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Speaker 7: I quit my job and I heard did y'all like

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Speaker 7: pay fifty percent of your paycheck? So I'm just trying

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Speaker 7: to figure out, like how do I submit this paperwork?

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Speaker 7: And she was like, you said you quit?

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Speaker 4: And I was like, yeah, I.

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Speaker 7: Said I quit, And she was like, yeah, you don't

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Speaker 7: get unemployment when you quit your job.

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Speaker 4: Yes.

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Speaker 2: I was like, did I say I quit? Like what

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Speaker 2: have meant?

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Speaker 4: Was a right?

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Speaker 2: Could I have fire?

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Speaker 7: And so she was like, yeah, that's the unemployment for you.

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Speaker 7: And if there was you wouldn't getting fifty percent of

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Speaker 7: your paycheck. So I was unemployed for six weeks. And

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Speaker 7: during those six weeks, a woman who worked with me

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Speaker 7: with Younger Power for Obama called me and she was like,

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Speaker 7: I have a job, and the job is launching a

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Speaker 7: national entrepreneurship in this where you would teach African American

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Speaker 7: undergraduate students how to start a business before they graduate

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Speaker 7: from school. Especially since a black undergraduate student's college degree

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Speaker 7: is equivalent to a white person's high school diploma.

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Speaker 4: Can you talk about that? You talk about that?

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Speaker 2: Yeah, absolutely, so.

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Speaker 4: About what a black college degree is equivalent to a

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Speaker 4: white diploma.

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Speaker 7: Yes, a black person's college degree is equivalent to a

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Speaker 7: white person's high school diploma, which means that a black

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Speaker 7: person can go to the same high school as a

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Speaker 7: white person, go to the same college as a white person,

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Speaker 7: and apply for the same job as a white person,

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Speaker 7: but when they get higher their pay is separate and unequal.

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Speaker 3: So yeah, I think I read a statistics somewhere. It's

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Speaker 3: very similar.

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Speaker 5: It was like middle class black family is equivalent to

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Speaker 5: a poor white.

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Speaker 2: Family, poor white family.

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Speaker 7: Yeah, and black women, especially I mean black people in generally,

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Speaker 7: our parents teach us to work twice as hard, to

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Speaker 7: be twice as smart, to go into work and be

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Speaker 7: twice as exceptional, and somehow, some way will be the

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Speaker 7: same as a white person. At the end of the day,

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Speaker 7: black women is actually will lose eight hundred and forty

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Speaker 7: thousand dollars over their working career, not because they're our smart, intelligent,

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Speaker 7: or well equipped to do the job, but simply because

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Speaker 7: they're black and they're women.

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Speaker 4: So black women graduate college at the fastest rate, at

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Speaker 4: the highest rate out of any ethnic group.

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Speaker 2: I think that's what analysts say.

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Speaker 4: Yeah, but they're not paid obviously at the same.

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Speaker 2: Level they're not paid.

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Speaker 7: And I think that that's why it's no question while

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Speaker 7: black women are the fastest growing segment of entrepreneurs, Like

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Speaker 7: I like to tell people that, Like, I don't think

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Speaker 7: that black people are starting businesses because they want to

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Speaker 7: be the next Black Bill Gates. Love Beyonce, but the

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Speaker 7: next Black Bill Gates are the next Steve Jobs or

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Speaker 7: the next Mark Zuckerberg. They're starting businesses because they want

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Speaker 7: to be economically free. They want to be able to

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Speaker 7: pay themselves with their companies refuse to pay them despite

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Speaker 7: being qualified for them. That represents economic freedom. And economic liberation.

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Speaker 5: We had a guess who actually was talking about the

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Speaker 5: exact topic, and they was saying, even with that, the

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Speaker 5: entrepreneurism getting loans to.

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Speaker 4: Start fenture capitals. So black women are starting businesses at

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Speaker 4: the fastest rate, but they get venture capital at the

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Speaker 4: smallest rate out of any ethnic group, gender group in America.

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Speaker 4: So it doesn't really make sense if you think about it,

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Speaker 4: because it's like you would figure more entrepreneurs, you would

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Speaker 4: get at least some sort of venture capital. That's what

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Speaker 4: venture capital is. They lend money to entrepreneurs, but they

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Speaker 4: get the least amount of funding from venture capital.

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Speaker 7: I think what's interesting is that black people need to

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Speaker 7: have a more dynamic conversation around funding and so I

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Speaker 7: think when it comes to VC, that percentage is absolutely true.

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Speaker 7: But that's not the only type of business that black

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Speaker 7: people are starting. Isn't innovations driven enterprises, which is what

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Speaker 7: that is the type of businesses that qualify for venture capital.

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Speaker 7: There are two types of businesses that you can start.

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Speaker 7: There's a SMEE and there's an ide. There's a small

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Speaker 7: medium sized enterprise where you can raise a friends and

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Speaker 7: family round. You can go on to razoo. If you're

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Speaker 7: starting a nonprofit. If you're starting with Razoo is a

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Speaker 7: crowdfunding platform for five on one c three nonprofit organizations

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Speaker 7: where you can invite your friends to go on and donate.

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Speaker 7: The only way that you can qualify to get on

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Speaker 7: Razoo is if you have an IRS designation. If you

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Speaker 7: have a for profit or let's say you're a sole proprietor,

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Speaker 7: which means that you do business as yourself, you can

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Speaker 7: go on to Indiegogo. You can go onto what a

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Speaker 7: lot of people think it's an unpopular site, but go

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Speaker 7: funding and you can do the same thing. You can

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Speaker 7: ask your friends and family essentially to invest in your

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Speaker 7: business idea or to contribute towards your business idea. But

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Speaker 7: for a small medium sized enterprise, in addition to doing crowdfunding,

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Speaker 7: you can also do bank loans and you can also

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Speaker 7: fund your own business. That's fundamentally different than an ID

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Speaker 7: an innovations driven enterprise. We're essentially going into debt by soliciting, yes,

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Speaker 7: angel investment and also venture capital, and those people are

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Speaker 7: betting on you to serve a global market, while small

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Speaker 7: medium sized enterprises serve a small or regional market. So

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Speaker 7: those are your nail saligns. Those are your hair stylists,

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Speaker 7: those are your local coffee shops.

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Speaker 4: So all right, that's interesting. What's it called a ip ID?

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Speaker 7: So that is an innovation driven enterprise ns ME, which

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Speaker 7: is a small or medium sized enterprise.

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Speaker 4: Okay, So do you think that that's a that's an

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Speaker 4: issue though with Black community as a whole, where I

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Speaker 4: see most businesses and the business ideas are small. The

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Speaker 4: problem with small businesses that for the most part, they

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Speaker 4: stay small and you can't scale it. They don't really

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Speaker 4: make that much. Most majority of business owners don't make

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Speaker 4: money like we know that, like the average employee makes

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Speaker 4: more than a business owner, like per average. One of

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Speaker 4: the reasons is that most businesses are small, very small, right,

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Speaker 4: Like one person so like the grocery well not the

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Speaker 4: grocery stores, but the delis, the bodegas if he was

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Speaker 4: in theas there, the barbershops, the local restaurants. Do you

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Speaker 4: think that that's an issue with Black entrepreneurship that it's

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Speaker 4: always a lot of times not on a bigger global vision,

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Speaker 4: it's more on a community based, small vision.

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Speaker 7: I think it's important to know the data. So currently

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Speaker 7: there are two point five six million Black entrepreneurs, but

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Speaker 7: only one hundred and ten thousand of them have the

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Speaker 7: capacity to employ least one person. Now, what you're speaking

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Speaker 7: about is probably the two point four million people who can't. Right,

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Speaker 7: the one hundred and ten thousand black entrepreneurs who are

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Speaker 7: employers employ less than a million people, but there are

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Speaker 7: eighteen point five million black people in the workforce. That

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Speaker 7: means that a majority of black people work for somebody

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Speaker 7: who don't look like them, which means tomorrow, if those

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Speaker 7: employers were to come in and fire every single black

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Speaker 7: person on the back on the payroll, those black folks

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Speaker 7: would be what unemployees. Yeah, and that soil, they would

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Speaker 7: be essel and they would be on employed. So Black Upstart,

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Speaker 7: I'm glad you're talking about this. What we do is

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Speaker 7: we teach black entrepreneurs not just how to start a business,

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Speaker 7: but how to start a business that can create a job,

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Speaker 7: so they don't have to go begging other people to

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Speaker 7: do for them where they are capable of doing for themselves. Now,

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Speaker 7: for black entrepreneurs, the average black entrepreneur grosses less than

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Speaker 7: six figures and revenue, which means that a lot of

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Speaker 7: black entrepreneurs are starting businesses and their lifestyle businesses, which

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Speaker 7: means that they're just essentially hustling. And what a hustler

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Speaker 7: does is they wake up every single day and they

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Speaker 7: try to get money. While entrepreneur wakes up every day

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Speaker 7: and what they're doing is they're doing business. They're creating

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Speaker 7: systems and processes so that when they're business scales, other

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Speaker 7: people can work for their business outside of just them.

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Speaker 7: So I think that there's a difference between the barbershop

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Speaker 7: owner who probably has employees, the coffee shop owner, even

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Speaker 7: if it's just them, they employ themselves, and the person

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Speaker 7: on the side of the street who's hustling and trying

403
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Speaker 7: to sell to every single person that walks by them. Right,

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Speaker 7: I think it's important for black people to realize the

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Speaker 7: money that exists in our communities. So when I read

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Speaker 7: the statistic about black entrepreneurs gross and fewer than six figures,

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Speaker 7: I also read statistics about Asian entrepreneurs and white entrepreneurs

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Speaker 7: and Native American entrepreneurs, and all of them gross more

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Speaker 7: than six figures. In fact, Asian entrepreneurs have less entrepreneurs than.

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Speaker 2: Black folks, but they gross double the amount of revenue.

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Speaker 7: Why because when you look at the businesses that they start,

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Speaker 7: They start businesses in their own communities, and then they

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Speaker 7: come over to the black communities and start businesses. So

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Speaker 7: people always ask me like, okay, Kizia, what type of

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Speaker 7: business would you start if somebody gave you a million dollars?

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Speaker 7: And I always tell them that I would start a

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Speaker 7: Chinese food delivery service, And well, can you fly rice?

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Speaker 4: Oh?

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00:19:33,560 --> 00:19:36,360
Speaker 2: No, I can't fly rice. Can you fry one sign? No?

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Speaker 7: I can't fly one sign? In fact, I can't cook,

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Speaker 7: which is probably why I'm not married. So like, if

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Speaker 7: anybody knows I want to play like matchmaker, like I'm.

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Speaker 3: Down for it.

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Speaker 2: Exactly.

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Speaker 4: So.

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Speaker 7: But when we go into a beauty supply store and

427
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Speaker 7: a person on the other end of the counter is

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Speaker 7: selling you hair grease and do rag and I good

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Speaker 7: remy track and they don't look like you, we don't

430
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Speaker 7: think twice about it, but people will laugh once twice

431
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Speaker 7: a black woman selling fried rice and a one time.

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Speaker 7: The reason why agent entrepreneurs are able to gross over

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Speaker 7: six figures and employ them is because they're not only

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Speaker 7: getting money in their own community, but they are capitalizing

435
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Speaker 7: off of the one point three trillion dollars that black

436
00:20:13,720 --> 00:20:16,239
Speaker 7: people are spending every single day. And so what I

437
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Speaker 7: like to tell black entrepreneurs is that you have to

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Speaker 7: look at what we're currently spending our money on. Every

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00:20:22,119 --> 00:20:26,960
Speaker 7: single year, the Nielsen Consumer Index Report publishes how Black

440
00:20:27,000 --> 00:20:31,240
Speaker 7: people spend their money. The top five things are refrigerated drinks,

441
00:20:32,160 --> 00:20:38,840
Speaker 7: dry vegetables, ethnic care, care goods and supplies. Contraceptives is one,

442
00:20:39,480 --> 00:20:42,480
Speaker 7: Diverse is another one. Laundry detergent. I know that y'all

443
00:20:42,520 --> 00:20:45,360
Speaker 7: know about True that's a black on laundry detergent company.

444
00:20:45,760 --> 00:20:47,840
Speaker 7: When you look at the top five businesses the black

445
00:20:47,880 --> 00:20:52,400
Speaker 7: people normally start, it is admin services, waste for mediation.

446
00:20:52,840 --> 00:20:53,560
Speaker 2: Third is other.

447
00:20:53,800 --> 00:20:57,600
Speaker 7: So that's like an amalgamation, maybe like a compilation of

448
00:20:57,600 --> 00:20:58,800
Speaker 7: many different businesses.

449
00:20:59,000 --> 00:21:00,480
Speaker 2: And what you don't see is an alignment.

450
00:21:01,119 --> 00:21:02,919
Speaker 7: When you look at the types of businesses that other

451
00:21:03,080 --> 00:21:06,560
Speaker 7: entrepreneurs start, they are prevalent on the list where our

452
00:21:06,600 --> 00:21:10,320
Speaker 7: dollars are being spent Black people's Again, one point three

453
00:21:10,320 --> 00:21:12,680
Speaker 7: trillion dollars is not a blank check for other communities to.

454
00:21:12,640 --> 00:21:15,879
Speaker 3: Sign real quick. You said that you train entrepreneurs.

455
00:21:15,920 --> 00:21:18,440
Speaker 5: Obviously I'm thinking through a curriculum one, but you also

456
00:21:18,440 --> 00:21:19,280
Speaker 5: do a hands on approach.

457
00:21:19,320 --> 00:21:20,000
Speaker 3: What does that look like?

458
00:21:20,359 --> 00:21:23,960
Speaker 7: Okay, So for the Black Upside curriculum, we host a

459
00:21:24,000 --> 00:21:27,800
Speaker 7: six day pop up school and it happens over three

460
00:21:27,800 --> 00:21:30,520
Speaker 7: weeks and six days. And during our six days, we

461
00:21:30,680 --> 00:21:36,560
Speaker 7: teach audiation process, the minimum viable product creation, business CANVUS

462
00:21:36,600 --> 00:21:39,760
Speaker 7: development and in the end, we teach them how to pitch. Yeah,

463
00:21:39,800 --> 00:21:41,960
Speaker 7: so that's what we do with Black up Start. We

464
00:21:42,000 --> 00:21:44,119
Speaker 7: start with crowdfunding and I know we had just had

465
00:21:44,119 --> 00:21:48,280
Speaker 7: a conversation about crowdfunding, but we teach them essentially how

466
00:21:48,320 --> 00:21:49,639
Speaker 7: to turn their contacts into.

467
00:21:49,560 --> 00:21:53,200
Speaker 2: Capital contact contact like capital.

468
00:21:53,240 --> 00:21:55,080
Speaker 7: So it starts with that before we even see them

469
00:21:55,119 --> 00:21:56,280
Speaker 7: on the first day of class.

470
00:21:57,000 --> 00:21:59,320
Speaker 3: And how many teachers just you or is it a team?

471
00:21:59,560 --> 00:21:59,679
Speaker 6: No?

472
00:22:00,080 --> 00:22:01,600
Speaker 2: So there is faculty.

473
00:22:02,600 --> 00:22:04,080
Speaker 7: And one of the things that I love about Black

474
00:22:04,160 --> 00:22:07,080
Speaker 7: Upstar that I definitely should mention is we always teach

475
00:22:07,080 --> 00:22:09,280
Speaker 7: in a black environment. So like right now you all

476
00:22:09,320 --> 00:22:12,119
Speaker 7: are in Southeast DC, and we started off in the

477
00:22:12,119 --> 00:22:15,280
Speaker 7: Microsoft Innovation Center, which is located on Saint Elizabeth East

478
00:22:15,320 --> 00:22:17,520
Speaker 7: Campus in Southeast and DC.

479
00:22:17,640 --> 00:22:23,200
Speaker 2: They say South, Like what f South? We have black faculties.

480
00:22:23,359 --> 00:22:26,040
Speaker 7: So we have one faculty come in every single day

481
00:22:26,119 --> 00:22:29,280
Speaker 7: and they teach on a very specific topic. We have

482
00:22:29,400 --> 00:22:32,480
Speaker 7: contractors that come in and help with website development. All black,

483
00:22:32,640 --> 00:22:36,240
Speaker 7: black photographers, black videographers, and when they pitch, they pitched

484
00:22:36,240 --> 00:22:39,520
Speaker 7: their innovation in the community. And so now you have

485
00:22:39,640 --> 00:22:42,880
Speaker 7: black consumers connecting with black entrepreneurs. And for us, it's

486
00:22:42,880 --> 00:22:45,720
Speaker 7: about recycling the black dollar, all.

487
00:22:45,720 --> 00:22:47,840
Speaker 4: Right, dope, dope. So the next type, we're going to

488
00:22:47,880 --> 00:22:50,840
Speaker 4: talk about some different ways that people can get up

489
00:22:50,880 --> 00:22:53,199
Speaker 4: and running and get into the game as far as

490
00:22:53,320 --> 00:22:56,320
Speaker 4: entrepreneurship concerned, all right. So we're gonna talk about some

491
00:22:56,440 --> 00:23:01,240
Speaker 4: actionable items and some systems to help people out, all right.

492
00:23:01,320 --> 00:23:06,399
Speaker 4: So the audiation process, the audiation process. Audiation process can

493
00:23:06,480 --> 00:23:07,240
Speaker 4: explain what that is.

494
00:23:07,720 --> 00:23:12,080
Speaker 7: Absolutely, So we teach the audiation process, and it's a

495
00:23:12,160 --> 00:23:16,680
Speaker 7: six step process that teaches new small business entrepreneurs how

496
00:23:16,720 --> 00:23:20,000
Speaker 7: to launch their enterprise in less than thirty days and

497
00:23:20,160 --> 00:23:24,040
Speaker 7: with less than one thousand dollars in startup capital. So

498
00:23:24,200 --> 00:23:27,280
Speaker 7: the first step is your problem statement. So please note

499
00:23:27,440 --> 00:23:29,639
Speaker 7: that it's not a business idea problem statement.

500
00:23:29,640 --> 00:23:30,359
Speaker 4: Problem statement.

501
00:23:30,640 --> 00:23:33,359
Speaker 7: What type of problem are you trying to solve and

502
00:23:33,400 --> 00:23:35,600
Speaker 7: for whom? So for black upstart, it would be black

503
00:23:35,760 --> 00:23:40,640
Speaker 7: entrepreneurs have a problem starting businesses that create jobs. Normally,

504
00:23:40,840 --> 00:23:43,159
Speaker 7: entrepreneurs get hung up on the first process because they

505
00:23:43,200 --> 00:23:45,439
Speaker 7: want to tell you about their idea. That's their baby,

506
00:23:45,600 --> 00:23:48,080
Speaker 7: and so we say, you need to divorce yourself from

507
00:23:48,160 --> 00:23:51,359
Speaker 7: your idea. Talk about your problem, and your problem should

508
00:23:51,359 --> 00:23:54,600
Speaker 7: be broad enough so that there are several different solutions

509
00:23:54,680 --> 00:23:59,080
Speaker 7: that can address that problem. Number two is called investigation,

510
00:23:59,440 --> 00:24:02,480
Speaker 7: and what that is is market research. And so with

511
00:24:02,600 --> 00:24:04,920
Speaker 7: market research, what you do is you look at other

512
00:24:05,000 --> 00:24:08,399
Speaker 7: companies that are solving that problem and you look at

513
00:24:08,400 --> 00:24:10,640
Speaker 7: a few things. You see if they're sme we talked

514
00:24:10,640 --> 00:24:13,359
Speaker 7: about that earlier, a small medium sized enterprise or innovation

515
00:24:13,480 --> 00:24:16,440
Speaker 7: driven enterprise. You look and see if they have employees,

516
00:24:16,520 --> 00:24:18,760
Speaker 7: because you want to know if the business has scaled,

517
00:24:19,080 --> 00:24:21,679
Speaker 7: and you look and see if they have if they

518
00:24:21,720 --> 00:24:25,280
Speaker 7: sell products and services. After that, you list five things

519
00:24:25,280 --> 00:24:27,879
Speaker 7: that you like about that company and five things that

520
00:24:27,960 --> 00:24:30,720
Speaker 7: you would change, and each of that each of those

521
00:24:30,760 --> 00:24:33,040
Speaker 7: items on that list should address the problem that you're

522
00:24:33,040 --> 00:24:36,000
Speaker 7: trying to solve. Now, when you move on to step three,

523
00:24:36,119 --> 00:24:39,160
Speaker 7: which is called the idea expression, you use the five

524
00:24:39,200 --> 00:24:42,480
Speaker 7: things that you would change to create your unfair competitive advantage.

525
00:24:42,520 --> 00:24:44,720
Speaker 7: So for Black Upstart, we looked at other businesses that

526
00:24:44,800 --> 00:24:48,520
Speaker 7: were training entrepreneurs and we realized that businesses weren't really

527
00:24:48,600 --> 00:24:52,920
Speaker 7: saying that I want to train black entrepreneurs. They were

528
00:24:53,000 --> 00:24:55,199
Speaker 7: dressing it up in coded language like we want to

529
00:24:55,200 --> 00:24:57,959
Speaker 7: help people of color, we want to help minorities. Are

530
00:24:58,000 --> 00:25:00,159
Speaker 7: you disadvantaged, Come over here, let me teach you how

531
00:25:00,200 --> 00:25:03,200
Speaker 7: to start a business. Like we knew that our unfair

532
00:25:03,200 --> 00:25:06,679
Speaker 7: competitive advantage would be that we would explicitly state that

533
00:25:06,760 --> 00:25:09,200
Speaker 7: we would train black entrepreneurs and this would be a

534
00:25:09,240 --> 00:25:13,359
Speaker 7: one hundred percent black experience. So for number three, again,

535
00:25:13,440 --> 00:25:15,600
Speaker 7: you put your unfair competitive advantage in there and you

536
00:25:15,680 --> 00:25:19,760
Speaker 7: say I sell this to this particular person, and say

537
00:25:19,800 --> 00:25:20,680
Speaker 7: how it's different.

538
00:25:21,080 --> 00:25:22,240
Speaker 2: It should be one sentence.

539
00:25:22,720 --> 00:25:24,760
Speaker 7: Usually when you talk to an entrepreneur and you ask

540
00:25:24,800 --> 00:25:27,760
Speaker 7: them about their business, they're gonna tell you a whole book,

541
00:25:28,000 --> 00:25:28,680
Speaker 7: all right.

542
00:25:28,840 --> 00:25:29,760
Speaker 2: Because it's their baby.

543
00:25:30,440 --> 00:25:32,240
Speaker 7: But if you can't say it in a sentence, if

544
00:25:32,280 --> 00:25:34,199
Speaker 7: it can't be like your elevator pass, you know, if

545
00:25:34,200 --> 00:25:37,879
Speaker 7: it said it's a sentence, then it's too long. Also,

546
00:25:38,000 --> 00:25:41,120
Speaker 7: if you get to step number three and your business

547
00:25:41,119 --> 00:25:43,359
Speaker 7: idea hasn't shifted or changed, or you don't have better

548
00:25:43,440 --> 00:25:45,800
Speaker 7: understanding on why you're doing business and in that way,

549
00:25:46,240 --> 00:25:48,480
Speaker 7: then that means that you have to start over because

550
00:25:48,480 --> 00:25:52,240
Speaker 7: you never got a divorce. So step number four is

551
00:25:52,240 --> 00:25:55,200
Speaker 7: your customer demographic. And for a customer demographic, you're gonna

552
00:25:55,200 --> 00:25:59,240
Speaker 7: list out twenty different descriptors about the person who is

553
00:25:59,320 --> 00:26:02,480
Speaker 7: looking for a solution to that problem, and that looks

554
00:26:02,520 --> 00:26:05,040
Speaker 7: like how old are they, how much money do they make?

555
00:26:05,080 --> 00:26:06,840
Speaker 7: What is their race, what is their gender? Who do

556
00:26:06,880 --> 00:26:09,680
Speaker 7: they follow on social media? Where do they currently work?

557
00:26:09,720 --> 00:26:11,760
Speaker 7: Because you cannot make the assumption that they're looking for

558
00:26:11,800 --> 00:26:13,880
Speaker 7: your new business idea, which doesn't exist yet.

559
00:26:14,400 --> 00:26:17,040
Speaker 5: These questions are format it already pologies.

560
00:26:17,480 --> 00:26:19,800
Speaker 7: And then number five is your user persona. You take

561
00:26:19,800 --> 00:26:21,800
Speaker 7: all of those descriptors and you tell a story. So

562
00:26:21,880 --> 00:26:24,800
Speaker 7: like Lakeisha is twenty six and she works at booz

563
00:26:24,800 --> 00:26:26,960
Speaker 7: Allen Hamilton and she makes sixty two thousand dollars, So

564
00:26:27,000 --> 00:26:30,320
Speaker 7: you tell a story. And then last is your innovation.

565
00:26:30,880 --> 00:26:33,800
Speaker 7: And then innovation is something that is new, original, important

566
00:26:33,960 --> 00:26:36,719
Speaker 7: that you could sell to other people for profit. And

567
00:26:36,840 --> 00:26:40,040
Speaker 7: it should be an MVP, which is a minimum viable

568
00:26:40,040 --> 00:26:43,720
Speaker 7: product creation. What can you make with a minimum amount

569
00:26:43,760 --> 00:26:48,280
Speaker 7: of resources that people can actually pay you for. Okay,

570
00:26:48,680 --> 00:26:49,919
Speaker 7: you need to be able to make it with one

571
00:26:49,920 --> 00:26:51,760
Speaker 7: thousand dollars. You need to be able to launch it

572
00:26:51,800 --> 00:26:53,879
Speaker 7: in thirty days. And the reason why we set that

573
00:26:53,920 --> 00:26:56,800
Speaker 7: parameter is because entrepreneurs dream big. So you might be like,

574
00:26:56,840 --> 00:26:59,240
Speaker 7: what I want is a nail salon, but perhaps all

575
00:26:59,280 --> 00:27:01,760
Speaker 7: you can afford is a pop up shop where people

576
00:27:01,800 --> 00:27:03,800
Speaker 7: come and you do their nails on a Saturday at

577
00:27:03,800 --> 00:27:06,000
Speaker 7: a community center that you've rented, and that cost you

578
00:27:06,040 --> 00:27:07,920
Speaker 7: two hundred dollars just to pop up in three hundred

579
00:27:07,920 --> 00:27:10,639
Speaker 7: dollars for supplies. The reason why I say that is

580
00:27:10,640 --> 00:27:13,320
Speaker 7: because once you get small right, once you learn how

581
00:27:13,359 --> 00:27:15,280
Speaker 7: to use what you have, start where you are and

582
00:27:15,320 --> 00:27:17,200
Speaker 7: do what you can, then you learn.

583
00:27:17,080 --> 00:27:18,280
Speaker 2: How to start a jib.

584
00:27:19,040 --> 00:27:21,800
Speaker 7: So that's the six step ideation process.

585
00:27:22,080 --> 00:27:22,720
Speaker 4: There you have it.

586
00:27:22,800 --> 00:27:26,200
Speaker 3: That was detailed detail and the only.

587
00:27:26,040 --> 00:27:27,800
Speaker 7: Thing that I want to say with the entrepreneurs, sometimes

588
00:27:27,800 --> 00:27:30,760
Speaker 7: people don't define entrepreneurs, but an entrepreneur is someone who

589
00:27:30,760 --> 00:27:33,600
Speaker 7: starts a business that has the chance of two things.

590
00:27:33,640 --> 00:27:36,480
Speaker 7: That's profit and success. We like to say that would

591
00:27:36,480 --> 00:27:39,280
Speaker 7: black upstart that if you're selling a product or service,

592
00:27:39,359 --> 00:27:40,680
Speaker 7: then nobody wants to buy.

593
00:27:41,040 --> 00:27:44,879
Speaker 2: You don't have a business. You have a high B difference.

594
00:27:45,560 --> 00:27:48,359
Speaker 5: How many entrepreneurs are you looking for? How many do

595
00:27:48,400 --> 00:27:50,119
Speaker 5: you guys take like, is it per year? How do

596
00:27:50,200 --> 00:27:54,359
Speaker 5: y'all do it? So I'm sorry answered okay, I was

597
00:27:54,359 --> 00:27:57,280
Speaker 5: gonna say, is it money that's allocated for the amount

598
00:27:57,320 --> 00:27:59,520
Speaker 5: of business you can or entrepreneurs that you can take?

599
00:28:00,040 --> 00:28:04,040
Speaker 7: So it's competitive. We accept between ten to fifteen people

600
00:28:04,080 --> 00:28:07,720
Speaker 7: per class. We get about two hundred applications for each class.

601
00:28:07,960 --> 00:28:10,040
Speaker 7: When we first started, it was tuition based, and so

602
00:28:10,119 --> 00:28:13,240
Speaker 7: we would train our entrepreneurs to raise their tuition, which

603
00:28:13,280 --> 00:28:16,920
Speaker 7: was five hundred dollars per person. The average entrepreneur would

604
00:28:16,960 --> 00:28:19,280
Speaker 7: raise anywhere between seven hundred to one thousand dollars, and

605
00:28:19,320 --> 00:28:21,880
Speaker 7: every dollar that they raised above their tuition they kept

606
00:28:21,920 --> 00:28:25,639
Speaker 7: and used to make their minimum viable product creation. But

607
00:28:25,760 --> 00:28:29,479
Speaker 7: then as a business matured, we partnered with CDFI's, so

608
00:28:29,520 --> 00:28:33,360
Speaker 7: those are community development financial institutions. So in North Carolina

609
00:28:33,400 --> 00:28:35,919
Speaker 7: we work with Carolina Small Business Development Fund and what

610
00:28:36,040 --> 00:28:41,120
Speaker 7: happens is they actually cover up CDFI, So that's a

611
00:28:41,160 --> 00:28:45,280
Speaker 7: community development financial institution and they take bets on entrepreneurs

612
00:28:45,280 --> 00:28:48,120
Speaker 7: that banks won't, So if you haven't made your first sale,

613
00:28:48,160 --> 00:28:51,240
Speaker 7: they're more willing to make a five thousand dollars loan

614
00:28:51,280 --> 00:28:54,240
Speaker 7: to you and take that risk and the government backs.

615
00:28:53,920 --> 00:28:55,920
Speaker 2: Them in the event that you default on the loan.

616
00:28:56,640 --> 00:28:58,400
Speaker 7: So I say that to say that we partner with

617
00:28:58,440 --> 00:29:01,560
Speaker 7: CDFIs and they cover the cost of tuition and in

618
00:29:01,640 --> 00:29:04,840
Speaker 7: exchange for that, entrepreneurs get free education and they pipeline

619
00:29:04,880 --> 00:29:08,440
Speaker 7: into funding opportunities. So we see with Carolina Small Business

620
00:29:08,480 --> 00:29:11,520
Speaker 7: Development Fund, every single entrepreneur graduated with access to fifty

621
00:29:11,520 --> 00:29:13,720
Speaker 7: thousand dollars in funding destide their business.

622
00:29:15,240 --> 00:29:17,600
Speaker 4: So all right, that's crazy. So once they started with

623
00:29:17,640 --> 00:29:21,560
Speaker 4: the fifty thousand, then what because now it's like you

624
00:29:21,680 --> 00:29:24,720
Speaker 4: have the money, but you have to actually do it.

625
00:29:24,760 --> 00:29:27,479
Speaker 4: Cause it's one thing to actually research and have all

626
00:29:27,520 --> 00:29:32,160
Speaker 4: the information, but execution is always the most important thing.

627
00:29:32,240 --> 00:29:34,320
Speaker 4: So like as far as is that part of the coaching,

628
00:29:34,400 --> 00:29:39,280
Speaker 4: like for people, like the execution once you've reached the

629
00:29:39,360 --> 00:29:43,520
Speaker 4: point where you're actually, okay, I have my my MVP,

630
00:29:43,800 --> 00:29:45,680
Speaker 4: I have earners.

631
00:29:45,680 --> 00:29:46,040
Speaker 3: What's up.

632
00:29:46,160 --> 00:29:49,200
Speaker 8: You ever walk into a small business and everything just works,

633
00:29:49,560 --> 00:29:52,880
Speaker 8: Like the checkout is fast, the seats are digital, tipping

634
00:29:53,120 --> 00:29:55,560
Speaker 8: is a breeze, and you're out the door before the

635
00:29:55,600 --> 00:29:59,920
Speaker 8: line even builds. Odds are they're using Square? We love

636
00:30:00,080 --> 00:30:03,160
Speaker 8: supporting businesses that run on Square because it just feels seamless.

637
00:30:03,320 --> 00:30:05,840
Speaker 8: Whether it's a local coffee shop, a vendor at a

638
00:30:05,880 --> 00:30:08,760
Speaker 8: pop up market, or even one of our merch partners,

639
00:30:09,000 --> 00:30:12,800
Speaker 8: Square makes it easy for them to take payments, manage inventory,

640
00:30:12,880 --> 00:30:16,760
Speaker 8: and run their business with confidence, all from one simple system.

641
00:30:17,240 --> 00:30:19,840
Speaker 8: If you're a business owner or even just thinking about

642
00:30:19,920 --> 00:30:23,000
Speaker 8: launching something soon, Square is hands down one of the

643
00:30:23,040 --> 00:30:26,480
Speaker 8: best tools out there to help you start, run and grow.

644
00:30:26,760 --> 00:30:29,760
Speaker 8: It's not just about payments, it's about giving you time

645
00:30:29,880 --> 00:30:31,600
Speaker 8: back so you can focus on what.

646
00:30:31,600 --> 00:30:32,800
Speaker 3: Matters most Ready.

647
00:30:32,840 --> 00:30:36,200
Speaker 8: To see how Square can transform your business, visit Square

648
00:30:36,280 --> 00:30:40,960
Speaker 8: dot com backslash go backslash eyl to learn more. That's

649
00:30:41,000 --> 00:30:46,440
Speaker 8: Square dot com backslash, go backslash eyl. Don't wait, don't hesitate.

650
00:30:46,560 --> 00:30:48,920
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651
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Speaker 8: pushing your vision forward. This episode is brought to you

652
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660
00:31:22,200 --> 00:31:26,760
Speaker 8: Boring since eighteen sixty five. Brilliantly Boring since eighteen sixty

661
00:31:26,800 --> 00:31:30,080
Speaker 8: five is a service mark of the PNC Financial Service Group, Inc.

662
00:31:30,520 --> 00:31:33,920
Speaker 8: P and C Bank National Association Member FDIC.

663
00:31:36,120 --> 00:31:40,000
Speaker 6: You just realized your business needed to hire someone yesterday.

664
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665
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667
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668
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669
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670
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673
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674
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675
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676
00:32:26,200 --> 00:32:28,760
Speaker 6: and support our show by saying you heard about Indeed

677
00:32:28,800 --> 00:32:33,120
Speaker 6: on this podcast. Terms and conditions apply hiring. Indeed, is

678
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Speaker 6: all you need.

679
00:32:34,400 --> 00:32:38,480
Speaker 4: Have all of the elevated pitch everything that you just outlined.

680
00:32:38,520 --> 00:32:40,880
Speaker 4: I have that, have it. It's perfect. My business plan

681
00:32:41,000 --> 00:32:45,360
Speaker 4: is perfect. Now what hey like, what's the execution part

682
00:32:45,360 --> 00:32:45,600
Speaker 4: of it?

683
00:32:45,920 --> 00:32:46,120
Speaker 2: Hey?

684
00:32:46,120 --> 00:32:48,760
Speaker 7: So I think that's a really good question. Our CDFIs

685
00:32:48,840 --> 00:32:52,080
Speaker 7: work with the entrepreneurs over a year to scale their business.

686
00:32:52,200 --> 00:32:54,680
Speaker 7: And so, you know, we talked about business card entrepreneurs

687
00:32:54,760 --> 00:32:56,320
Speaker 7: or people run around here or all the time talking

688
00:32:56,320 --> 00:32:57,920
Speaker 7: about I gotta business, I gotta be Is this all they

689
00:32:57,920 --> 00:33:02,120
Speaker 7: got is a business card? So with them they qualify

690
00:33:02,160 --> 00:33:05,360
Speaker 7: for up to fifty thousand dollars in capital. But first

691
00:33:05,480 --> 00:33:08,680
Speaker 7: they do have to show proof of concept and that's

692
00:33:08,720 --> 00:33:11,880
Speaker 7: where that sixth step innovation comes in. We talked about

693
00:33:11,920 --> 00:33:14,160
Speaker 7: how the boot camp ends. The boot camp ends with

694
00:33:14,240 --> 00:33:17,440
Speaker 7: a graduation, and that graduation it's not your traditional pitch competition,

695
00:33:17,960 --> 00:33:20,160
Speaker 7: Like it's not you stand up there, you tell people

696
00:33:20,240 --> 00:33:22,360
Speaker 7: your idea and then there is a winner, because that's

697
00:33:22,360 --> 00:33:24,400
Speaker 7: not the way business sorts.

698
00:33:24,480 --> 00:33:25,280
Speaker 2: It's not shark tank.

699
00:33:25,440 --> 00:33:27,280
Speaker 7: It's not two or three people decide that your business

700
00:33:27,280 --> 00:33:29,160
Speaker 7: is viable and all of a sudden you win. No,

701
00:33:29,360 --> 00:33:32,400
Speaker 7: you know, your business is viable when you're making sales.

702
00:33:32,720 --> 00:33:35,800
Speaker 7: And so how our graduation day works is entrepreneurs bring

703
00:33:35,840 --> 00:33:40,360
Speaker 7: their innovations to the graduation and people walk around and

704
00:33:40,400 --> 00:33:43,160
Speaker 7: they give them real time feed forward on their innovation

705
00:33:43,600 --> 00:33:45,600
Speaker 7: and they respond to if they want to if they

706
00:33:45,680 --> 00:33:49,040
Speaker 7: like the innovation by actually buying it. And so they

707
00:33:49,120 --> 00:33:52,240
Speaker 7: already have an MVP that the CDFI helps them position

708
00:33:52,320 --> 00:33:55,360
Speaker 7: in the marketplace, and they monitor their seals over the year,

709
00:33:55,480 --> 00:33:58,200
Speaker 7: and as their business grows, then their access to funding

710
00:33:58,240 --> 00:33:59,320
Speaker 7: does as well as.

711
00:34:00,160 --> 00:34:03,280
Speaker 5: Right, is there still a role that black ops start

712
00:34:03,360 --> 00:34:04,960
Speaker 5: plays as the business takes off.

713
00:34:05,280 --> 00:34:08,000
Speaker 7: So that's a good question because we talked about our

714
00:34:08,040 --> 00:34:11,360
Speaker 7: businesses having events right on the same thing. So we're

715
00:34:11,400 --> 00:34:15,839
Speaker 7: now launching skillhouse You and skillhouse You is an opportunity

716
00:34:16,000 --> 00:34:19,719
Speaker 7: for entrepreneurs and also wealth creators as well to get

717
00:34:19,800 --> 00:34:23,200
Speaker 7: additional training after that. Right, So, like launching, the starting

718
00:34:23,200 --> 00:34:26,040
Speaker 7: point is always really exciting when somebody first buys your stuff.

719
00:34:26,040 --> 00:34:28,399
Speaker 7: I'm sure y'all remember when somebody bought y'all's Cubicodi easy

720
00:34:28,400 --> 00:34:30,880
Speaker 7: and it got your first little cash at or whatever

721
00:34:30,960 --> 00:34:34,360
Speaker 7: y'all use, like, Yeah, you know, but staying a business

722
00:34:34,800 --> 00:34:38,040
Speaker 7: right is a lot harder than that, And so for

723
00:34:38,160 --> 00:34:40,759
Speaker 7: black ops starting through Skillhouse you what we're doing is

724
00:34:40,760 --> 00:34:43,120
Speaker 7: we're teaching people like how do you read a cash

725
00:34:43,160 --> 00:34:45,320
Speaker 7: flow statement? Like how do you engage in account and

726
00:34:45,320 --> 00:34:46,960
Speaker 7: if you can't afford an account? And how do you

727
00:34:47,120 --> 00:34:49,480
Speaker 7: use quick and loans? You know, what are those very

728
00:34:49,520 --> 00:34:52,600
Speaker 7: specific skills that you need, like what is an NDA?

729
00:34:53,000 --> 00:34:54,960
Speaker 2: What is a noncompete? You know?

730
00:34:55,000 --> 00:34:57,440
Speaker 7: And when you're looking for visibility, like how do you

731
00:34:57,560 --> 00:35:00,000
Speaker 7: market when you don't have a budget? And I think

732
00:35:00,120 --> 00:35:02,960
Speaker 7: sometimes we do focus our conversations so much on starting

733
00:35:03,160 --> 00:35:04,600
Speaker 7: that we don't get to the other side of the

734
00:35:04,640 --> 00:35:06,919
Speaker 7: conversation is how do you scale pass?

735
00:35:07,080 --> 00:35:11,600
Speaker 4: Just you so business plans? You do business plans, We don't.

736
00:35:11,719 --> 00:35:12,960
Speaker 2: We do business canvases.

737
00:35:13,600 --> 00:35:17,319
Speaker 4: Okay, because a lot of people have asked us, can

738
00:35:17,360 --> 00:35:19,799
Speaker 4: you cover business planning on your leaders because like each

739
00:35:19,840 --> 00:35:23,080
Speaker 4: week we cover a different topic and we haven't covered

740
00:35:23,120 --> 00:35:26,279
Speaker 4: business plans. But what you just laid out kind of

741
00:35:26,320 --> 00:35:29,680
Speaker 4: sounds like a business plan. So what's a business canvas?

742
00:35:29,880 --> 00:35:32,759
Speaker 7: So ideation process actually mirrors a lot of what you'll

743
00:35:32,800 --> 00:35:36,200
Speaker 7: find in a business canvas that is a one page

744
00:35:36,239 --> 00:35:38,960
Speaker 7: document that asks a lot of the same questions that

745
00:35:39,040 --> 00:35:41,320
Speaker 7: you see on a business plan. So it's going to

746
00:35:41,360 --> 00:35:44,520
Speaker 7: ask you, like what is your value proposition? And who

747
00:35:44,600 --> 00:35:47,160
Speaker 7: is your customer segment? And what are your cost structures.

748
00:35:47,239 --> 00:35:49,080
Speaker 7: It's going to ask you what are your key partnerships,

749
00:35:49,080 --> 00:35:51,920
Speaker 7: what are your key relationships? But it's all on one page,

750
00:35:51,960 --> 00:35:53,800
Speaker 7: and it challenges you to think through some of the

751
00:35:53,840 --> 00:35:57,320
Speaker 7: critical components of your business so that you can start

752
00:35:57,440 --> 00:35:59,520
Speaker 7: up in a lean way. And I'm sure y'all probably

753
00:35:59,520 --> 00:36:02,239
Speaker 7: heard the term monology like lean startup, right, Like how

754
00:36:02,239 --> 00:36:04,200
Speaker 7: do you start get proof of concept and get to

755
00:36:04,200 --> 00:36:06,319
Speaker 7: the point where you actually want to commit the time

756
00:36:06,680 --> 00:36:09,840
Speaker 7: to write a fifty or sixty page business plan. The

757
00:36:09,920 --> 00:36:12,760
Speaker 7: problem with most entrepreneurs is they'll write fifty or sixty pages.

758
00:36:12,880 --> 00:36:15,440
Speaker 7: Then they'll get started and they'll try to sell something

759
00:36:15,440 --> 00:36:17,239
Speaker 7: and nobody will buy it, and they'll think they have

760
00:36:17,280 --> 00:36:19,840
Speaker 7: to write another business plan all over again. The business

761
00:36:19,840 --> 00:36:22,880
Speaker 7: campus being one page and asking those critical questions just

762
00:36:23,000 --> 00:36:25,600
Speaker 7: on one sheet of paper allows for people to get

763
00:36:25,600 --> 00:36:26,800
Speaker 7: to testing a lot quicker.

764
00:36:27,360 --> 00:36:31,560
Speaker 4: So what about obstacles the entrepreneur's face. Can we talk

765
00:36:31,560 --> 00:36:35,320
Speaker 4: about some The biggest one is funding. That's the biggest one.

766
00:36:35,239 --> 00:36:38,239
Speaker 7: Right, I wouldn't say that's the biggest one say the

767
00:36:38,239 --> 00:36:43,000
Speaker 7: biggest one is I think the biggest obstacle facing black

768
00:36:43,160 --> 00:36:46,800
Speaker 7: entrepreneurs is trying to succeed in business as a white person.

769
00:36:48,000 --> 00:36:48,520
Speaker 4: What's that mean?

770
00:36:49,080 --> 00:36:54,239
Speaker 2: So Beyonce Beyonce rapping about like I might just be

771
00:36:54,400 --> 00:36:56,759
Speaker 2: the next black Bill Gates, and the making.

772
00:36:57,200 --> 00:37:00,719
Speaker 3: That was bar y'all, like, yeah, I said.

773
00:37:00,480 --> 00:37:03,359
Speaker 2: That, But I love her. I love her.

774
00:37:03,520 --> 00:37:06,600
Speaker 7: However, I think the deseroneous. Like I do a lot

775
00:37:06,640 --> 00:37:10,160
Speaker 7: of work in Atlanta, and there was one particular experience

776
00:37:10,160 --> 00:37:12,520
Speaker 7: that I had where I ran into a room. I

777
00:37:12,640 --> 00:37:14,319
Speaker 7: really did run into the room because I'm a type

778
00:37:14,360 --> 00:37:15,120
Speaker 7: of personality.

779
00:37:15,400 --> 00:37:16,720
Speaker 2: And there was another.

780
00:37:16,520 --> 00:37:18,400
Speaker 7: Person run into the room too, the facilitator, and he

781
00:37:18,480 --> 00:37:20,040
Speaker 7: was asking the kids like who wants to be the

782
00:37:20,040 --> 00:37:21,839
Speaker 7: next Black Bill Gates? Who wants to be the next

783
00:37:21,840 --> 00:37:25,280
Speaker 7: Mark Zuckerberg? Who wants to be the next Steve Jobs?

784
00:37:25,320 --> 00:37:27,480
Speaker 7: And all the kids were really excited because it was

785
00:37:27,520 --> 00:37:29,799
Speaker 7: like a coding a free coding camp. And I was

786
00:37:29,840 --> 00:37:31,880
Speaker 7: excited too. I was like, oh my gosh, this is

787
00:37:31,920 --> 00:37:34,279
Speaker 7: something great. Everybody's going to be a Bill Gates. But

788
00:37:34,320 --> 00:37:37,680
Speaker 7: then I realized that the facilitator was lying to the

789
00:37:37,800 --> 00:37:41,680
Speaker 7: children because no matter how hard they tried, they could

790
00:37:41,719 --> 00:37:44,880
Speaker 7: never grow up one to be white, two to be

791
00:37:44,920 --> 00:37:47,759
Speaker 7: a white male, three to be a white male benefiting

792
00:37:47,800 --> 00:37:48,760
Speaker 7: from privilege.

793
00:37:49,120 --> 00:37:50,120
Speaker 2: And so the more I.

794
00:37:50,000 --> 00:37:51,840
Speaker 7: Reflected on it, the more I realized that we just

795
00:37:51,880 --> 00:37:54,719
Speaker 7: don't have to teach white male privilege or the white

796
00:37:54,840 --> 00:37:59,239
Speaker 7: entrepreneurial the blueprint, that there is a black entrepreneurial blueprint. Right,

797
00:37:59,320 --> 00:38:01,839
Speaker 7: so like and Still Valley, I think no one ever

798
00:38:01,960 --> 00:38:07,320
Speaker 7: talks about the guy who invented the predecessor to the Nintendo,

799
00:38:07,680 --> 00:38:11,600
Speaker 7: which is a model f gaming system. Right he dined

800
00:38:11,640 --> 00:38:14,120
Speaker 7: as equals with Steve Jobs. No one talks about how

801
00:38:14,120 --> 00:38:17,120
Speaker 7: Mary McCoy Bethune raised money to start her business, which

802
00:38:17,200 --> 00:38:19,439
Speaker 7: was selling meat pass to the mineworkers down the street.

803
00:38:19,520 --> 00:38:21,359
Speaker 7: She started with a one room schoolhouse before she got

804
00:38:21,360 --> 00:38:24,839
Speaker 7: to Bethune Cookman University. More contemporary examples like Issa Ray.

805
00:38:25,120 --> 00:38:27,680
Speaker 7: People want to talk about how she's on HBO now

806
00:38:27,680 --> 00:38:31,640
Speaker 7: with Insecure but Awkward Black Girl was funded by a

807
00:38:31,719 --> 00:38:34,799
Speaker 7: part of her salary and fundraising on YouTube where she

808
00:38:34,880 --> 00:38:38,600
Speaker 7: introduced her series for free. So I think for black entrepreneurs,

809
00:38:38,680 --> 00:38:41,840
Speaker 7: we have to learn how our predecessors did it without

810
00:38:41,880 --> 00:38:45,239
Speaker 7: the benefit of white venture capital dollars or without the

811
00:38:45,239 --> 00:38:48,799
Speaker 7: benefit of banks allocating US money. One other example, because

812
00:38:48,800 --> 00:38:52,759
Speaker 7: I'm from Richmond, Maggie L. Walker started and well she

813
00:38:52,840 --> 00:38:55,600
Speaker 7: was the first woman at that not black woman, but

814
00:38:55,640 --> 00:38:58,799
Speaker 7: the first woman to charter a bank. She funded that

815
00:38:58,880 --> 00:39:02,360
Speaker 7: bank with charitable contributions. Do you know how many black

816
00:39:02,400 --> 00:39:05,440
Speaker 7: people go to a charity every single Sunday which is

817
00:39:05,520 --> 00:39:07,960
Speaker 7: the church? Those are five and one C threes. A

818
00:39:08,000 --> 00:39:10,279
Speaker 7: five and one C three funded a for profit bank.

819
00:39:10,600 --> 00:39:12,400
Speaker 7: So I'm saying, if we could study history, I think

820
00:39:12,440 --> 00:39:14,560
Speaker 7: that we would be able to figure out better ways

821
00:39:14,560 --> 00:39:15,320
Speaker 7: to be successful.

822
00:39:15,520 --> 00:39:18,400
Speaker 5: We gotta study it and highlighted because a lot of times,

823
00:39:19,400 --> 00:39:23,479
Speaker 5: especially when in school, right when US history is taught,

824
00:39:23,719 --> 00:39:29,319
Speaker 5: yes this is definitely omitted. So highlighting it, understanding it,

825
00:39:29,360 --> 00:39:32,440
Speaker 5: and study. And now that we have access to the

826
00:39:32,440 --> 00:39:34,960
Speaker 5: internet and we have access to social media where these

827
00:39:35,120 --> 00:39:38,440
Speaker 5: stories could be highlight you know, the future generations there

828
00:39:38,480 --> 00:39:39,600
Speaker 5: will be different stories now.

829
00:39:39,800 --> 00:39:42,120
Speaker 7: I feel like, yes, yes, or I think they will

830
00:39:42,160 --> 00:39:43,840
Speaker 7: be remembering of the stories that have been on to.

831
00:39:44,040 --> 00:39:44,680
Speaker 3: Create one right now.

832
00:39:44,920 --> 00:39:46,200
Speaker 2: Yeah, I don't.

833
00:39:49,320 --> 00:39:51,400
Speaker 4: So what would you say some other some other obstacles

834
00:39:51,400 --> 00:39:52,880
Speaker 4: are outside of that.

835
00:39:53,400 --> 00:39:55,239
Speaker 2: Outside of that, I mean, you set funding and I

836
00:39:55,280 --> 00:39:56,080
Speaker 2: agree with that. I just.

837
00:40:00,080 --> 00:40:04,400
Speaker 7: They fund funding was coming. We talked earlier about the

838
00:40:04,440 --> 00:40:07,319
Speaker 7: difference between a hustler and an entrepreneur. I think that

839
00:40:07,320 --> 00:40:10,359
Speaker 7: that's important. I think the other thing is is that

840
00:40:10,600 --> 00:40:13,080
Speaker 7: I think that people get caught up on this whole

841
00:40:13,120 --> 00:40:16,040
Speaker 7: thing about were you born an entrepreneur or can you

842
00:40:16,080 --> 00:40:18,200
Speaker 7: become an entrepreneur? You know, most people are like I

843
00:40:18,280 --> 00:40:20,560
Speaker 7: was born this way, I woke up like this right,

844
00:40:20,600 --> 00:40:24,440
Speaker 7: But no, I think entrepreneur can absolutely be taught. You

845
00:40:24,480 --> 00:40:27,560
Speaker 7: talked about us living in an information economy, Like we

846
00:40:27,760 --> 00:40:32,440
Speaker 7: are fortunate to live in a time period where information

847
00:40:32,560 --> 00:40:34,840
Speaker 7: is basically at your fingertips. So like, what I like

848
00:40:34,880 --> 00:40:36,360
Speaker 7: to tell people who want to start a business and

849
00:40:36,360 --> 00:40:38,920
Speaker 7: people who want to create wealth is don't swim in

850
00:40:38,960 --> 00:40:43,600
Speaker 7: the ocean of knowledge and drown and ignorance. So that's important.

851
00:40:44,719 --> 00:40:47,440
Speaker 7: The last thing I think that I would say is

852
00:40:47,480 --> 00:40:49,640
Speaker 7: I don't think that you have to be the smartest

853
00:40:49,680 --> 00:40:53,320
Speaker 7: person in the room to be a great entrepreneur.

854
00:40:53,480 --> 00:40:55,920
Speaker 2: So people normally think you have to have a PhD.

855
00:40:56,000 --> 00:40:58,040
Speaker 7: You know, we talked about that when we first got started,

856
00:40:58,120 --> 00:40:59,560
Speaker 7: or you know, they think that you have to be

857
00:40:59,640 --> 00:41:02,960
Speaker 7: a Strada student, Like I graduated from high school with

858
00:41:03,160 --> 00:41:06,160
Speaker 7: like a two point three g p A. I wasn't

859
00:41:06,200 --> 00:41:08,680
Speaker 7: the brightest student, but I was motivated and I was committed,

860
00:41:08,760 --> 00:41:11,120
Speaker 7: and I thought that, you know, with me, if I

861
00:41:11,160 --> 00:41:13,799
Speaker 7: could try hard enough, you know, if I if I

862
00:41:13,800 --> 00:41:16,680
Speaker 7: could really commit myself to a passion, then I could,

863
00:41:16,960 --> 00:41:18,600
Speaker 7: you know, I could overcome the obstacle.

864
00:41:20,120 --> 00:41:22,520
Speaker 2: Just one quick start on the story though, Gosh, I

865
00:41:22,520 --> 00:41:23,440
Speaker 2: don't thinkure about his name.

866
00:41:23,480 --> 00:41:27,040
Speaker 7: Okay, I'm not gonna tell that story.

867
00:41:28,000 --> 00:41:30,680
Speaker 2: What's the guy? Hold on, who's the guy who had

868
00:41:30,680 --> 00:41:32,160
Speaker 2: the pink? Y'all? Ain't never had a perm in your

869
00:41:32,160 --> 00:41:34,839
Speaker 2: head box? What's the name?

870
00:41:41,200 --> 00:41:44,440
Speaker 5: No, we just actually covered the industry.

871
00:41:44,920 --> 00:41:52,520
Speaker 4: We just did that whole episode he had at the man.

872
00:41:53,600 --> 00:41:58,520
Speaker 7: Oh oh yeah, like this, I wonder Okay, yeah.

873
00:41:59,640 --> 00:42:01,000
Speaker 4: All right, So in the last semeon, we're going to

874
00:42:01,040 --> 00:42:03,600
Speaker 4: talk about some financial literacy stuff and things that every

875
00:42:03,680 --> 00:42:05,440
Speaker 4: day people can use in their day to day life

876
00:42:05,520 --> 00:42:07,799
Speaker 4: to make better financial decisions and just become more knowledge

877
00:42:07,840 --> 00:42:10,239
Speaker 4: all the way around. All right, So now we want

878
00:42:10,239 --> 00:42:12,600
Speaker 4: to talk about UNCF, But first I'll talk about some

879
00:42:12,640 --> 00:42:15,840
Speaker 4: financial literacy topics because I know it's something that you're

880
00:42:15,840 --> 00:42:18,440
Speaker 4: passionate about, especially like on social media Instagram and stuff

881
00:42:18,440 --> 00:42:22,680
Speaker 4: like that. So all right, you said that you talk

882
00:42:22,719 --> 00:42:26,759
Speaker 4: about making smart decisions a lot like mindset budgeting. I

883
00:42:26,800 --> 00:42:29,440
Speaker 4: see you you speak about that a lot. Can you

884
00:42:29,480 --> 00:42:31,439
Speaker 4: talk about that the importance of it.

885
00:42:31,760 --> 00:42:32,400
Speaker 2: That's important.

886
00:42:34,239 --> 00:42:37,880
Speaker 7: I'm passionate about entrepreneurship and we were just talking about that, Like,

887
00:42:37,960 --> 00:42:43,680
Speaker 7: I really think that black people should consider entrepreneurship and entrepreneurship.

888
00:42:43,840 --> 00:42:46,359
Speaker 7: Entrepreneurship means that you can be entrepreneurial at your job.

889
00:42:46,840 --> 00:42:48,920
Speaker 7: But I don't think that every black person should be

890
00:42:48,920 --> 00:42:51,960
Speaker 7: an entrepreneur. Do I think that every black person should

891
00:42:51,960 --> 00:42:56,040
Speaker 7: be an owner of assets? And so on Instagram? You're

892
00:42:56,080 --> 00:42:59,719
Speaker 7: right with professor Keys. I talk a lot about how

893
00:42:59,760 --> 00:43:02,759
Speaker 7: people can be owner of assets because I do think

894
00:43:02,760 --> 00:43:05,319
Speaker 7: that if you can multiply your streams of income, you

895
00:43:05,360 --> 00:43:07,920
Speaker 7: can achieve the same type of economic freedom that I

896
00:43:07,920 --> 00:43:09,960
Speaker 7: believe the entrepreneurship provides.

897
00:43:10,719 --> 00:43:14,080
Speaker 4: So like, what does that mean, like multiply like what.

898
00:43:14,200 --> 00:43:15,560
Speaker 2: Kind of of income?

899
00:43:15,760 --> 00:43:18,120
Speaker 4: Like Like you said, like everybody can be an owner

900
00:43:18,160 --> 00:43:18,640
Speaker 4: like the owner.

901
00:43:18,520 --> 00:43:22,440
Speaker 7: Of a house, owner of assets, owner of assets and assets.

902
00:43:22,480 --> 00:43:24,440
Speaker 7: I think you can talk about multiple assets like you

903
00:43:24,480 --> 00:43:27,160
Speaker 7: can yes own your home, you can own stocks, you

904
00:43:27,160 --> 00:43:29,040
Speaker 7: can own bond, you can invest in your four O

905
00:43:29,160 --> 00:43:31,239
Speaker 7: one K, so like that type of owner.

906
00:43:31,280 --> 00:43:33,200
Speaker 4: Okay, so at least because you said that one of

907
00:43:33,239 --> 00:43:35,319
Speaker 4: the things you're really passionate about is the four one K? Yes,

908
00:43:35,640 --> 00:43:37,359
Speaker 4: so why are you passionate about one K?

909
00:43:37,800 --> 00:43:41,520
Speaker 2: So when I was going to get that good government.

910
00:43:41,200 --> 00:43:49,320
Speaker 7: Job, Actually, my very first job was as a receptionist.

911
00:43:49,360 --> 00:43:52,920
Speaker 2: Okay, so, and that was where I got a government job.

912
00:43:53,360 --> 00:43:56,320
Speaker 7: And I remember when I first got my first paycheck,

913
00:43:56,440 --> 00:43:58,319
Speaker 7: my mom was like, well did you invest with your

914
00:43:58,360 --> 00:44:00,040
Speaker 7: four and one K? And I was like, well, what's that?

915
00:44:00,200 --> 00:44:02,360
Speaker 7: And she was like retirement. I was like, mom, like

916
00:44:03,040 --> 00:44:05,360
Speaker 7: about that plain one? Like, well, I'm trying to like

917
00:44:05,600 --> 00:44:07,520
Speaker 7: I'm trying to go Tavy hour and she was like

918
00:44:08,080 --> 00:44:09,600
Speaker 7: you better happy hour at four one K?

919
00:44:13,239 --> 00:44:13,479
Speaker 2: Yes?

920
00:44:13,640 --> 00:44:16,319
Speaker 7: Yes, And I'm very grateful for that because people ask

921
00:44:16,400 --> 00:44:18,600
Speaker 7: me sometimes like what did I learn about financial literacy?

922
00:44:18,800 --> 00:44:21,120
Speaker 7: And I really learned it from my mother before I

923
00:44:21,120 --> 00:44:23,480
Speaker 7: started teaching it to myself. And she was like, the

924
00:44:23,640 --> 00:44:26,839
Speaker 7: earlier you start investing in your four on one K,

925
00:44:27,280 --> 00:44:28,759
Speaker 7: the better. And she was like, and it's going to

926
00:44:28,840 --> 00:44:31,440
Speaker 7: be difficult if you're like actually taking your money and

927
00:44:31,480 --> 00:44:35,320
Speaker 7: investing it. Talk to your employer and ask them about

928
00:44:35,320 --> 00:44:38,000
Speaker 7: their retirement plan. And usually they deduct it from your

929
00:44:38,120 --> 00:44:41,640
Speaker 7: check before you even see it posted in your direct deposit.

930
00:44:42,080 --> 00:44:44,480
Speaker 7: And she challenged me to also ask them about matching.

931
00:44:44,520 --> 00:44:46,160
Speaker 7: So I didn't even know what that meant, but she's like,

932
00:44:46,200 --> 00:44:48,719
Speaker 7: go ask him about matching. And at that time, my

933
00:44:48,760 --> 00:44:53,000
Speaker 7: employer was matching six percent. So six percent of my salary,

934
00:44:53,080 --> 00:44:55,440
Speaker 7: that's what that means. So I think at that plat's

935
00:44:55,440 --> 00:44:57,799
Speaker 7: making twenty nine thousand dollars, so whatever six percent of

936
00:44:57,840 --> 00:45:01,280
Speaker 7: that was, every dollar I contributed up to that amount,

937
00:45:01,320 --> 00:45:03,680
Speaker 7: they would match it. So my mom was like, that's

938
00:45:03,760 --> 00:45:05,600
Speaker 7: free money. Do you like free money?

939
00:45:05,680 --> 00:45:07,040
Speaker 2: And I was like, well, I mean, is that a

940
00:45:07,120 --> 00:45:07,920
Speaker 2: rhetorical question?

941
00:45:09,040 --> 00:45:10,720
Speaker 3: Yes, I like free money.

942
00:45:11,800 --> 00:45:15,239
Speaker 7: And it turns into six thousand dollars And so it

943
00:45:15,400 --> 00:45:17,279
Speaker 7: just automated. When I left that job, I rolled it

944
00:45:17,320 --> 00:45:20,800
Speaker 7: into an individual retirement account and IRA and every single

945
00:45:20,880 --> 00:45:22,880
Speaker 7: job that was one of the first questions that I asked,

946
00:45:22,920 --> 00:45:24,120
Speaker 7: Do you have a retirement aplount?

947
00:45:24,200 --> 00:45:25,960
Speaker 2: How can I contribute? And do you match?

948
00:45:26,480 --> 00:45:29,879
Speaker 7: And at my age now in my thirties, I told

949
00:45:29,920 --> 00:45:34,560
Speaker 7: him early I was fifty two thirties. I happened to

950
00:45:34,600 --> 00:45:37,040
Speaker 7: look at my four one k earlier this year because

951
00:45:37,080 --> 00:45:37,600
Speaker 7: my friend.

952
00:45:37,680 --> 00:45:38,760
Speaker 2: We were having a conversation.

953
00:45:38,800 --> 00:45:40,680
Speaker 7: He was like, yeah, I got like four hundred thousand

954
00:45:40,719 --> 00:45:42,520
Speaker 7: dollars in my four one counts, Like you got what?

955
00:45:42,719 --> 00:45:44,200
Speaker 7: I was like, let me see what I got up

956
00:45:44,200 --> 00:45:46,359
Speaker 7: in my IRA, my four one K. At that point,

957
00:45:46,400 --> 00:45:47,920
Speaker 7: I was working at UNCFS, so I had a four

958
00:45:48,040 --> 00:45:50,600
Speaker 7: h three B account. The difference four one K is

959
00:45:50,600 --> 00:45:54,760
Speaker 7: normally for for profits, four three B is for nonprofit organizations.

960
00:45:54,920 --> 00:45:55,839
Speaker 2: They both do the same thing.

961
00:45:55,880 --> 00:45:58,880
Speaker 7: You invest in four one ks, and I had almost

962
00:45:58,880 --> 00:46:01,879
Speaker 7: two hundred thousand dollars and I had not looked at it,

963
00:46:02,239 --> 00:46:03,839
Speaker 7: and so I was like, you know what, what if

964
00:46:03,840 --> 00:46:06,080
Speaker 7: I started actively managing it? Like this was one of

965
00:46:06,080 --> 00:46:08,439
Speaker 7: the best pieces of advice that my mom gave me.

966
00:46:08,680 --> 00:46:11,279
Speaker 7: And there's one statistic I want to share that's all

967
00:46:11,320 --> 00:46:15,279
Speaker 7: Motley fool that if you start investing one hundred and

968
00:46:15,320 --> 00:46:18,400
Speaker 7: twenty four dollars a week at the age of twenty

969
00:46:18,480 --> 00:46:22,160
Speaker 7: five into your retirement account, you can essentially retire with

970
00:46:22,200 --> 00:46:24,600
Speaker 7: a million dollars assuming a six percent.

971
00:46:24,320 --> 00:46:25,800
Speaker 2: Return on your investment portfolio.

972
00:46:26,520 --> 00:46:29,239
Speaker 7: And that means that at twenty four you can be

973
00:46:29,520 --> 00:46:31,520
Speaker 7: or twenty five you can be contributed one hundred and

974
00:46:31,560 --> 00:46:33,680
Speaker 7: twenty seven dollars a week. You can do that at

975
00:46:33,719 --> 00:46:37,000
Speaker 7: thirty five, forty six, fifty four and that number never has.

976
00:46:36,880 --> 00:46:39,080
Speaker 2: To change in order to reach the one million dollar mark.

977
00:46:39,480 --> 00:46:41,719
Speaker 7: So with all these people on Instagram talking about like

978
00:46:41,800 --> 00:46:44,719
Speaker 7: twenty twenty is about like a bunch of millionaires, but

979
00:46:44,760 --> 00:46:46,160
Speaker 7: if you ask them what their plan is, they don't

980
00:46:46,200 --> 00:46:49,080
Speaker 7: have it. It's going to be like a really good

981
00:46:49,080 --> 00:46:50,360
Speaker 7: opportunity for them to start.

982
00:46:50,239 --> 00:46:51,120
Speaker 3: Twenty twenty vision.

983
00:46:51,400 --> 00:46:54,520
Speaker 4: Yeah, So you manage your own portfolio with the phone k,

984
00:46:54,600 --> 00:46:55,960
Speaker 4: like you pick your own funds.

985
00:46:56,080 --> 00:46:58,359
Speaker 7: I don't, but I'm starting to really learn. I didn't

986
00:46:58,360 --> 00:46:59,760
Speaker 7: even know that that was an option.

987
00:47:00,239 --> 00:47:01,319
Speaker 3: I know a guy that can help.

988
00:47:01,400 --> 00:47:01,960
Speaker 2: You know a guy.

989
00:47:02,360 --> 00:47:03,120
Speaker 3: We'll talk after.

990
00:47:05,760 --> 00:47:06,040
Speaker 4: We'll talk.

991
00:47:09,320 --> 00:47:11,520
Speaker 7: But one thing that I did learn is that you

992
00:47:11,520 --> 00:47:15,839
Speaker 7: can select a target based account. Yeah, that's that's based

993
00:47:15,880 --> 00:47:19,040
Speaker 7: on your age and so like they basically invest the

994
00:47:19,160 --> 00:47:21,719
Speaker 7: risk level according to the younger you are the risk

995
00:47:21,800 --> 00:47:24,080
Speaker 7: your investments that you can make, and then the older

996
00:47:24,120 --> 00:47:26,840
Speaker 7: you are the less risk because you're getting closer.

997
00:47:26,480 --> 00:47:29,279
Speaker 4: To Yeah, the target target day fund is always good,

998
00:47:29,320 --> 00:47:31,400
Speaker 4: I think a good option because it's it's it's like

999
00:47:31,440 --> 00:47:33,399
Speaker 4: an auto pilot. Yeah, but you know the thing we're

1000
00:47:33,440 --> 00:47:35,200
Speaker 4: retirement accounts. Is that you want to be aggressive when

1001
00:47:35,239 --> 00:47:37,200
Speaker 4: you're young and conservative as you get older. Yeah, So

1002
00:47:37,239 --> 00:47:39,040
Speaker 4: a lot of times it's hard for people to kind

1003
00:47:39,080 --> 00:47:42,080
Speaker 4: of change it up themselves manage their own portfolio because

1004
00:47:42,080 --> 00:47:43,720
Speaker 4: you got so much stuff going on. But the target

1005
00:47:43,800 --> 00:47:46,680
Speaker 4: date is like designed to become more conservative as you're

1006
00:47:46,680 --> 00:47:49,080
Speaker 4: closer to that target date of your retirement.

1007
00:47:49,120 --> 00:47:50,040
Speaker 2: I got a question for you.

1008
00:47:50,360 --> 00:47:56,560
Speaker 7: Do you know that God should be talking to shout.

1009
00:47:56,360 --> 00:47:57,839
Speaker 5: Out to you and the friend who had the four

1010
00:47:57,920 --> 00:48:00,600
Speaker 5: hundred thousand one even having that type a conversation.

1011
00:48:00,719 --> 00:48:01,279
Speaker 2: Absolutely.

1012
00:48:02,480 --> 00:48:05,520
Speaker 5: There's not many people that I know outside of the

1013
00:48:05,520 --> 00:48:08,680
Speaker 5: group of Leisures team, but that have those type of conversations. Yeah,

1014
00:48:08,920 --> 00:48:10,200
Speaker 5: a lot of times people say you will go as

1015
00:48:10,200 --> 00:48:11,520
Speaker 5: far as your conversations taking.

1016
00:48:11,520 --> 00:48:15,440
Speaker 7: Absolutely what I meant that that Okay, put that on.

1017
00:48:19,360 --> 00:48:21,480
Speaker 4: And the four one K is not something that it's

1018
00:48:21,520 --> 00:48:25,360
Speaker 4: not the most sexy investment, right, but it is practical.

1019
00:48:25,520 --> 00:48:26,280
Speaker 2: It's very practical.

1020
00:48:26,440 --> 00:48:28,680
Speaker 4: And I always tell people like, you got to put

1021
00:48:28,840 --> 00:48:32,359
Speaker 4: different assets away for different things. So the four one

1022
00:48:32,400 --> 00:48:34,440
Speaker 4: K is for your retirement. It shouldn't be your only

1023
00:48:34,520 --> 00:48:38,040
Speaker 4: investment that you're having life, but for a long term

1024
00:48:38,080 --> 00:48:40,640
Speaker 4: retirement savings. Is great, especially, like you said, if they match,

1025
00:48:40,680 --> 00:48:43,560
Speaker 4: that's free money. She'll always try if you can try

1026
00:48:43,560 --> 00:48:46,080
Speaker 4: to contribute at least up to the match, yeah, because

1027
00:48:46,120 --> 00:48:47,440
Speaker 4: that's that's pretty much free.

1028
00:48:47,239 --> 00:48:47,919
Speaker 2: Money, right.

1029
00:48:48,080 --> 00:48:50,279
Speaker 7: And the other thing that I didn't know until I

1030
00:48:50,280 --> 00:48:53,359
Speaker 7: started doing my research as well is that you can

1031
00:48:53,520 --> 00:48:55,680
Speaker 7: use some of the money in your retirement account for

1032
00:48:55,800 --> 00:48:56,800
Speaker 7: very specific purposes.

1033
00:48:56,800 --> 00:48:58,440
Speaker 2: Because if you were draw early, there will.

1034
00:48:58,280 --> 00:49:00,320
Speaker 7: Be the penalties. But you can lose like tenth thousand

1035
00:49:00,360 --> 00:49:02,719
Speaker 7: dollars for a down payment on your first home. You

1036
00:49:02,760 --> 00:49:06,440
Speaker 7: can use ten thousand dollars of it for educational expenses.

1037
00:49:06,480 --> 00:49:08,439
Speaker 7: You can use another ten thousand if you have any

1038
00:49:08,440 --> 00:49:12,600
Speaker 7: emergency health considerations. That's thirty thousand dollars if you invest

1039
00:49:12,600 --> 00:49:14,319
Speaker 7: that much, if it's in your portfolio, that you can

1040
00:49:14,320 --> 00:49:14,919
Speaker 7: actually use.

1041
00:49:15,000 --> 00:49:16,880
Speaker 4: And another thing with the four one ca a lot

1042
00:49:16,880 --> 00:49:19,520
Speaker 4: of flexibility with the four one K is that you

1043
00:49:19,560 --> 00:49:21,440
Speaker 4: can borrow from it most of the time, like up

1044
00:49:21,440 --> 00:49:24,080
Speaker 4: to fifty percent up to fifty thousand. So but the

1045
00:49:24,120 --> 00:49:25,480
Speaker 4: good thing with the full I mean, it's pros and

1046
00:49:25,480 --> 00:49:28,239
Speaker 4: cons obviously because you're borrowing from your retirement, but if

1047
00:49:28,280 --> 00:49:30,800
Speaker 4: you have no other place to access money, most of

1048
00:49:30,800 --> 00:49:33,560
Speaker 4: the time, most people like the most money that they

1049
00:49:33,560 --> 00:49:35,719
Speaker 4: have saved is in a four one k, so now

1050
00:49:35,719 --> 00:49:37,719
Speaker 4: you can borrow from that. It's not a low interest rate.

1051
00:49:37,719 --> 00:49:39,160
Speaker 4: Then you went from a bank, it was like three

1052
00:49:39,239 --> 00:49:41,799
Speaker 4: four percent. So you're pretty much borrowing from yourself and

1053
00:49:41,800 --> 00:49:44,839
Speaker 4: you're paying back yourself as opposed to taking a bank loan,

1054
00:49:44,880 --> 00:49:47,919
Speaker 4: let's say of ten percent or just using your credit

1055
00:49:48,000 --> 00:49:51,440
Speaker 4: card at twenty one nineteen percent. You're borrowing at a

1056
00:49:51,520 --> 00:49:53,759
Speaker 4: much lower rate and you're borrowing from yourself, so you're

1057
00:49:53,760 --> 00:49:55,960
Speaker 4: paying yourself back. So it's a lot of flexibility that

1058
00:49:56,000 --> 00:49:58,000
Speaker 4: people don't fully. I think a lot of times people

1059
00:49:58,080 --> 00:50:01,080
Speaker 4: these are just basic general investments. But it's like, this

1060
00:50:01,160 --> 00:50:04,360
Speaker 4: is what's gonna for the average American, Right, this is

1061
00:50:04,400 --> 00:50:07,120
Speaker 4: gonna make you a millionaire. Absolutely your house a four

1062
00:50:07,160 --> 00:50:10,120
Speaker 4: to one k. Like you said, most people aren't going

1063
00:50:10,160 --> 00:50:12,719
Speaker 4: to start a business. We hope that everybody does, but

1064
00:50:12,920 --> 00:50:15,640
Speaker 4: it's just not realistic, right. Most people are not gonna

1065
00:50:16,200 --> 00:50:21,280
Speaker 4: have a million different exotic investments and make a million

1066
00:50:21,320 --> 00:50:24,000
Speaker 4: dollars off bitcoin. It's just not gonna happen. But it's

1067
00:50:24,120 --> 00:50:26,280
Speaker 4: very practical to have a million dollars in your retirement

1068
00:50:26,280 --> 00:50:27,759
Speaker 4: a home, stuff like this, So I think like these

1069
00:50:27,760 --> 00:50:32,520
Speaker 4: are conversations that outside of the really exciting sexy stuff,

1070
00:50:32,840 --> 00:50:35,399
Speaker 4: we got to have these conversations as well, for sure.

1071
00:50:35,600 --> 00:50:39,080
Speaker 4: For sure. So I saw I saw something that you

1072
00:50:39,239 --> 00:50:42,400
Speaker 4: have put I think it was yesterday where you said

1073
00:50:42,400 --> 00:50:48,560
Speaker 4: that I guess a relationship had ended because over yeah,

1074
00:50:48,760 --> 00:50:49,680
Speaker 4: you put it on Instagram.

1075
00:50:49,760 --> 00:50:53,080
Speaker 5: So it is we're watching everything, We're watching everything.

1076
00:50:53,600 --> 00:50:56,759
Speaker 4: So the reason so it's holiday time. It's holiday time.

1077
00:50:56,880 --> 00:51:01,640
Speaker 4: It's holiday time, right, so people have to be responsible

1078
00:51:01,640 --> 00:51:04,719
Speaker 4: with this spending, right, and you gotta think about generational

1079
00:51:04,760 --> 00:51:10,680
Speaker 4: wealth over short term gratification. So how do you feel

1080
00:51:10,680 --> 00:51:16,600
Speaker 4: about that? About the guy? Just general, just the whole general.

1081
00:51:16,920 --> 00:51:20,560
Speaker 5: Can you give us a paraphrase version of what happened?

1082
00:51:21,960 --> 00:51:26,440
Speaker 7: Yeah, I was, I was dating this guy. We went

1083
00:51:26,480 --> 00:51:29,839
Speaker 7: out for a couple of months, and he asked me

1084
00:51:29,960 --> 00:51:32,800
Speaker 7: to buy him some really expensive shoes for his birthday

1085
00:51:32,840 --> 00:51:37,799
Speaker 7: in fact eight hundred.

1086
00:51:37,960 --> 00:51:44,640
Speaker 4: I mean, if you are asked you.

1087
00:51:42,239 --> 00:51:47,839
Speaker 7: Only like months maybe to on a possible month, like.

1088
00:51:47,040 --> 00:51:47,759
Speaker 2: Like do I love it?

1089
00:51:50,160 --> 00:51:50,479
Speaker 4: You feel?

1090
00:51:50,480 --> 00:51:50,520
Speaker 7: Like?

1091
00:51:50,560 --> 00:51:53,759
Speaker 4: That was? That was like the test, like not that much.

1092
00:51:56,160 --> 00:51:59,799
Speaker 7: And the conversation came after I had just told him

1093
00:52:00,200 --> 00:52:02,319
Speaker 7: that I had paid off all of my debt, like

1094
00:52:02,680 --> 00:52:06,879
Speaker 7: credit card, car student loans, so like we were celebrating.

1095
00:52:07,000 --> 00:52:09,080
Speaker 7: It was like, well, now that your credit card is

1096
00:52:09,120 --> 00:52:11,480
Speaker 7: like on a zero dollar ballance, like you can afford

1097
00:52:11,520 --> 00:52:11,920
Speaker 7: these shoes?

1098
00:52:13,480 --> 00:52:16,759
Speaker 2: No, bro, like my interest right, you just said it

1099
00:52:16,800 --> 00:52:17,760
Speaker 2: was double digits.

1100
00:52:17,760 --> 00:52:19,279
Speaker 7: Are you about to make you put eight hundred dollars

1101
00:52:19,320 --> 00:52:22,880
Speaker 7: back on it? So he broke up with me, and

1102
00:52:22,960 --> 00:52:24,680
Speaker 7: I actually think that was a good decision.

1103
00:52:24,840 --> 00:52:26,160
Speaker 3: I knew it was a good decision.

1104
00:52:26,719 --> 00:52:29,680
Speaker 7: So yeah, So for me, it really is about being

1105
00:52:29,719 --> 00:52:35,280
Speaker 7: fiscally responsible and not buying liabilities and masking it as

1106
00:52:35,320 --> 00:52:38,080
Speaker 7: an asset like that shoe is not going to in

1107
00:52:38,080 --> 00:52:39,359
Speaker 7: my pin. I don't know much about shoes. I don't

1108
00:52:39,360 --> 00:52:40,640
Speaker 7: think it's gona appreciate a value.

1109
00:52:44,480 --> 00:52:49,640
Speaker 3: Different right, high course value very lower turn.

1110
00:52:49,719 --> 00:52:51,880
Speaker 4: Now it's emotions a lot of times too. It's people

1111
00:52:51,920 --> 00:52:56,120
Speaker 4: have to be you have to think lost term, yeah obviously,

1112
00:52:56,400 --> 00:52:59,200
Speaker 4: but you can't get caught up in short term gratification.

1113
00:52:58,680 --> 00:53:00,839
Speaker 2: Sor term gratification. Yeah.

1114
00:53:01,160 --> 00:53:02,799
Speaker 4: And I see you talking about that. And also I

1115
00:53:02,800 --> 00:53:04,880
Speaker 4: see you talking about a lot like even with like relationships.

1116
00:53:04,880 --> 00:53:06,719
Speaker 4: I think that's important, Like when you say that like

1117
00:53:07,440 --> 00:53:09,440
Speaker 4: high data balls say like I see you post a

1118
00:53:09,440 --> 00:53:12,640
Speaker 4: lot about relationships and it's like that's a big component

1119
00:53:12,640 --> 00:53:15,960
Speaker 4: of wealth building. Yeah, right, And it's like a lot

1120
00:53:16,000 --> 00:53:20,120
Speaker 4: of times like who you're with will dictate like or

1121
00:53:20,239 --> 00:53:23,160
Speaker 4: at least have a part to play in how you think, right,

1122
00:53:23,160 --> 00:53:25,760
Speaker 4: because it's like peer pressure, Like if you're around somebody

1123
00:53:25,800 --> 00:53:27,760
Speaker 4: that's constantly telling you, like, we need to get this ascess,

1124
00:53:27,760 --> 00:53:29,600
Speaker 4: we need to do this, you're gonna automatically like if

1125
00:53:29,640 --> 00:53:31,319
Speaker 4: you're around your friends and saying that, or if you're

1126
00:53:31,320 --> 00:53:33,640
Speaker 4: around somebody it's like, let's just go to the mall,

1127
00:53:33,719 --> 00:53:36,040
Speaker 4: let's go on the trip, Like your mind's gonna be

1128
00:53:36,080 --> 00:53:37,840
Speaker 4: on that as well. Right, So, I what do you

1129
00:53:37,840 --> 00:53:38,360
Speaker 4: feel about that?

1130
00:53:38,440 --> 00:53:41,640
Speaker 7: Like, like I mean, I think he definitely was to

1131
00:53:41,680 --> 00:53:43,560
Speaker 7: watch my videos when he asked that question. But like

1132
00:53:43,560 --> 00:53:45,080
Speaker 7: one of the things that I like saying is that

1133
00:53:45,120 --> 00:53:48,280
Speaker 7: we're not flexing with liabilities anymore, Like this running around

1134
00:53:48,360 --> 00:53:51,600
Speaker 7: with Gucci like two weeks after you already was like

1135
00:53:52,280 --> 00:53:55,480
Speaker 7: you know, hashtag and f Gucci. You know, like you know,

1136
00:53:55,560 --> 00:53:58,040
Speaker 7: it's not that that's not the new flex. And what

1137
00:53:58,080 --> 00:54:00,359
Speaker 7: I really love about this whole movement that earn your

1138
00:54:00,400 --> 00:54:02,759
Speaker 7: leasures doing the Black up Start is getting into is

1139
00:54:02,800 --> 00:54:05,840
Speaker 7: that people are realizing that assets is the new flex.

1140
00:54:06,000 --> 00:54:06,560
Speaker 2: We do talk.

1141
00:54:06,600 --> 00:54:09,799
Speaker 7: I do talk a lot about relationships and the importance

1142
00:54:09,880 --> 00:54:13,520
Speaker 7: of breaking generational curses of poverty. I think sometimes we

1143
00:54:13,680 --> 00:54:16,799
Speaker 7: romanticize the struggle, like we sit here, we talk about.

1144
00:54:16,520 --> 00:54:17,560
Speaker 4: Oh, you start.

1145
00:54:19,120 --> 00:54:20,759
Speaker 7: From the bottom, but they don't want to get to

1146
00:54:20,800 --> 00:54:23,520
Speaker 7: the But we hear part right, And I think that

1147
00:54:23,560 --> 00:54:26,520
Speaker 7: the person that you partner with definitely does have an

1148
00:54:26,560 --> 00:54:29,200
Speaker 7: influence on how you are going to live that life.

1149
00:54:29,200 --> 00:54:32,240
Speaker 7: When you get married to someone, when you're in relationship

1150
00:54:32,440 --> 00:54:34,680
Speaker 7: with someone, you begin sharing a lot of things with them,

1151
00:54:34,719 --> 00:54:37,200
Speaker 7: and it's more than just emotions. It can be finances too,

1152
00:54:37,719 --> 00:54:41,000
Speaker 7: where you start making those and you start making those

1153
00:54:41,080 --> 00:54:44,000
Speaker 7: joint decisions together, like buying the house, you gonna be

1154
00:54:44,000 --> 00:54:47,080
Speaker 7: talking about who has bad credit, who doesn't have bad credit?

1155
00:54:47,160 --> 00:54:48,920
Speaker 7: You know, like when you're talking about, hey, we need

1156
00:54:48,960 --> 00:54:50,759
Speaker 7: to invest in a four to one case, so a

1157
00:54:50,800 --> 00:54:53,560
Speaker 7: percentage of my paycheck is already being you know, contributed

1158
00:54:53,600 --> 00:54:55,239
Speaker 7: towards this, your partner may be like, well, how come

1159
00:54:55,280 --> 00:54:57,880
Speaker 7: we can't go on vacation this year? And so I

1160
00:54:57,920 --> 00:55:01,080
Speaker 7: think it's important for people to get one that same

1161
00:55:01,120 --> 00:55:02,480
Speaker 7: page yes with one another.

1162
00:55:02,880 --> 00:55:05,719
Speaker 4: So no, it's important and it's a conversation that we

1163
00:55:05,760 --> 00:55:08,080
Speaker 4: don't have a lot. Yeah, we need to have like

1164
00:55:08,080 --> 00:55:09,440
Speaker 4: a whole episode on relationship.

1165
00:55:09,560 --> 00:55:10,600
Speaker 3: No, somebody actually asked me.

1166
00:55:10,760 --> 00:55:12,600
Speaker 5: A good friend of mine was saying that, you know,

1167
00:55:12,760 --> 00:55:15,160
Speaker 5: we talked about credit, but what happens when your spouse

1168
00:55:15,160 --> 00:55:17,239
Speaker 5: doesn't have great credit and the pressure.

1169
00:55:17,000 --> 00:55:18,759
Speaker 4: That or they ruin your credit or they ruin yours

1170
00:55:18,800 --> 00:55:20,440
Speaker 4: because they don't have it. You got a sign a

1171
00:55:20,480 --> 00:55:22,200
Speaker 4: car for the crazy.

1172
00:55:22,480 --> 00:55:27,880
Speaker 5: Yeah, I don't think that those are like, those are

1173
00:55:27,880 --> 00:55:29,960
Speaker 5: the conversations that you should be having dating.

1174
00:55:30,040 --> 00:55:30,880
Speaker 2: I'm not married.

1175
00:55:31,040 --> 00:55:33,840
Speaker 7: I'm not in a relationship right now, but I have

1176
00:55:33,960 --> 00:55:36,560
Speaker 7: been very intentional about when I do, you know, meet

1177
00:55:36,560 --> 00:55:38,440
Speaker 7: someone that I'm interested in. We do go out, Like

1178
00:55:38,520 --> 00:55:40,680
Speaker 7: on that first and second day, I'm asking like what

1179
00:55:40,719 --> 00:55:41,400
Speaker 7: are you reading?

1180
00:55:41,520 --> 00:55:43,800
Speaker 3: Like do you credited?

1181
00:55:44,200 --> 00:55:45,680
Speaker 7: I mean I think that that could be a question

1182
00:55:45,719 --> 00:55:47,560
Speaker 7: for the third day.

1183
00:55:48,160 --> 00:55:50,040
Speaker 2: First the second day, I'm like, well, what are you

1184
00:55:50,120 --> 00:55:50,719
Speaker 2: interested in?

1185
00:55:50,960 --> 00:55:53,640
Speaker 7: Like, you know, it's payday, so I just bought to

1186
00:55:53,719 --> 00:55:56,279
Speaker 7: read like do you got a Robin Hood account? You know,

1187
00:55:56,280 --> 00:56:03,520
Speaker 7: the person's looking at me, cross that.

1188
00:56:00,640 --> 00:56:01,160
Speaker 2: What you mean?

1189
00:56:01,320 --> 00:56:03,760
Speaker 3: Like that movie exactly?

1190
00:56:04,280 --> 00:56:06,799
Speaker 7: So you know that's how I know exactly where the

1191
00:56:06,800 --> 00:56:09,399
Speaker 7: mindset is there's a guy actually that I connected with

1192
00:56:10,440 --> 00:56:13,960
Speaker 7: who teaches about socks, and we connected on the phone

1193
00:56:14,040 --> 00:56:16,560
Speaker 7: and like literally for four hours we were talking about

1194
00:56:16,600 --> 00:56:19,520
Speaker 7: exchange traded funds, real estate investment trusts, like he was

1195
00:56:19,560 --> 00:56:22,240
Speaker 7: telling me how he wanted to like invest in housing,

1196
00:56:22,360 --> 00:56:24,400
Speaker 7: like we were talking about like I didn't know. I

1197
00:56:24,480 --> 00:56:27,919
Speaker 7: just started repairing my own credit because I didn't know

1198
00:56:27,960 --> 00:56:30,839
Speaker 7: when you pay off all of your debt, like that

1199
00:56:30,920 --> 00:56:33,799
Speaker 7: can drop your credit or like I literally close my

1200
00:56:33,920 --> 00:56:37,799
Speaker 7: credit card after I paid it all, and thirty days

1201
00:56:37,880 --> 00:56:40,280
Speaker 7: later when I got the notification that my credit had dropped,

1202
00:56:40,320 --> 00:56:42,440
Speaker 7: Like at that point, it was too late to reopen

1203
00:56:42,480 --> 00:56:44,360
Speaker 7: the card and I had that car for twelve years.

1204
00:56:44,440 --> 00:56:46,719
Speaker 7: He and I had that conversation about what it took

1205
00:56:46,760 --> 00:56:48,960
Speaker 7: to rebuild our credit. Like I think that we need

1206
00:56:49,000 --> 00:56:51,359
Speaker 7: to change how we start connecting with people, whether it's

1207
00:56:51,400 --> 00:56:53,360
Speaker 7: friends or whether it's a person who you're in a

1208
00:56:53,440 --> 00:56:54,920
Speaker 7: relationship with or trying to get.

1209
00:56:54,760 --> 00:56:57,640
Speaker 3: In a relationship. Conducting, not speaking conducting conducting.

1210
00:56:58,600 --> 00:57:02,320
Speaker 4: That's a fact that don't don't player, so don't play itself.

1211
00:57:03,840 --> 00:57:04,759
Speaker 2: I feel like there's a story.

1212
00:57:08,360 --> 00:57:11,200
Speaker 4: Like I always say, positive peer pressure, positive pair pressure

1213
00:57:11,239 --> 00:57:13,480
Speaker 4: is something that we we learned early on as far

1214
00:57:13,480 --> 00:57:16,480
Speaker 4: as like even your your friends, right, it's like, we

1215
00:57:17,000 --> 00:57:20,200
Speaker 4: know negative peer pressure, yeah, obviously everybody knows that, but

1216
00:57:20,360 --> 00:57:22,640
Speaker 4: positive peer pressure is like if you're around people that's

1217
00:57:22,720 --> 00:57:25,000
Speaker 4: like doing well. Like if you're in a school and

1218
00:57:25,040 --> 00:57:27,040
Speaker 4: everybody's doing well, nobody wants to be the dumbest person

1219
00:57:27,040 --> 00:57:31,080
Speaker 4: in class, so you're gonna naturally push yourself to not

1220
00:57:31,120 --> 00:57:33,360
Speaker 4: be the dumbest person in class, right, And that's positive

1221
00:57:33,360 --> 00:57:35,560
Speaker 4: peer pressure. So it's the same thing with finance, like

1222
00:57:35,560 --> 00:57:38,480
Speaker 4: if you're around people that are making smart decisions, that's

1223
00:57:38,520 --> 00:57:41,280
Speaker 4: doing things, that's you know, buying real estate, you're not

1224
00:57:41,320 --> 00:57:42,960
Speaker 4: going to be the one slacker. You don't want to

1225
00:57:42,960 --> 00:57:45,080
Speaker 4: be that one slacker. You want to have good credit,

1226
00:57:45,120 --> 00:57:47,280
Speaker 4: like your friends to have good So I think that

1227
00:57:47,280 --> 00:57:49,800
Speaker 4: these conversations are dope and it's really changing the narrative,

1228
00:57:50,080 --> 00:57:51,840
Speaker 4: especially in our community because it for a long time,

1229
00:57:51,840 --> 00:57:54,320
Speaker 4: it's not it wasn't nobody was having a conversation.

1230
00:57:54,560 --> 00:57:56,960
Speaker 3: Nobody was having better conversations.

1231
00:57:57,360 --> 00:58:02,640
Speaker 4: That's what we're doing. So all right, well, thank you,

1232
00:58:02,920 --> 00:58:03,760
Speaker 4: thank you for coming.

1233
00:58:03,800 --> 00:58:08,440
Speaker 2: Oh my god, our time is up. O. Thank you

1234
00:58:08,480 --> 00:58:09,160
Speaker 2: for having me.

1235
00:58:09,360 --> 00:58:12,680
Speaker 4: I had a lot of fun. So how can the

1236
00:58:12,680 --> 00:58:15,479
Speaker 4: people contact you, how can they get information on Black

1237
00:58:15,560 --> 00:58:18,120
Speaker 4: Upstart any events you have coming up we're supposed to deal.

1238
00:58:18,440 --> 00:58:22,160
Speaker 7: Yeah, So they can follow the Black Upstart, that's the

1239
00:58:22,320 --> 00:58:26,280
Speaker 7: tag Black up Start. They can also follow me at

1240
00:58:26,360 --> 00:58:30,680
Speaker 7: KIZI at MW k e z I A MW. We

1241
00:58:30,720 --> 00:58:34,560
Speaker 7: will be hosting boot camps across the nation in twenty

1242
00:58:34,600 --> 00:58:39,400
Speaker 7: twenty in six different markets, so North Carolina, Baltimore, Atlanta,

1243
00:58:39,520 --> 00:58:44,640
Speaker 7: New Orleans, Tulsa, Oklahoma. We're going back to Johannesburg, South Africa,

1244
00:58:45,040 --> 00:58:48,160
Speaker 7: and we'll release the whole list of cities the first

1245
00:58:48,200 --> 00:58:50,880
Speaker 7: week of January. And each one of those experiences are

1246
00:58:50,960 --> 00:58:55,200
Speaker 7: sponsored by CDFIs. So we'd love to train up entrepreneurs

1247
00:58:55,240 --> 00:58:57,280
Speaker 7: and give you access to funding upon graduation.

1248
00:58:57,560 --> 00:58:59,600
Speaker 4: So all right, don't we gotta we gotta collapse on

1249
00:58:59,680 --> 00:59:07,959
Speaker 4: top South Africa.

1250
00:59:08,080 --> 00:59:10,800
Speaker 3: Let's do that. That conversation.

1251
00:59:12,840 --> 00:59:15,240
Speaker 4: It Troy some housekeeping on.

1252
00:59:15,320 --> 00:59:18,000
Speaker 5: Shout everybody on patreon dot com. You know that's Proud

1253
00:59:18,000 --> 00:59:19,920
Speaker 5: to Pay program. We got some new members. I want

1254
00:59:19,960 --> 00:59:24,000
Speaker 5: to give them a shout out. Chris Ken, Ricardo and Sirita.

1255
00:59:24,000 --> 00:59:24,880
Speaker 5: I hope I pronounced that right.

1256
00:59:25,480 --> 00:59:27,320
Speaker 4: Did you know.

1257
00:59:29,200 --> 00:59:30,800
Speaker 5: That happens a lot. They're like Yo, man, I love

1258
00:59:30,840 --> 00:59:33,360
Speaker 5: my shoutout, but you left the letter out. I'm trying

1259
00:59:34,120 --> 00:59:36,160
Speaker 5: if I mispronounced it. I love you still. Thank you

1260
00:59:36,200 --> 00:59:40,440
Speaker 5: for signing up for Early Leisure uh for Patreon that

1261
00:59:40,560 --> 00:59:42,400
Speaker 5: gives you access now to early Leisure dot com.

1262
00:59:42,480 --> 00:59:44,000
Speaker 3: You know, if you're a tear four or five member,

1263
00:59:44,040 --> 00:59:45,200
Speaker 3: you have access to.

1264
00:59:45,160 --> 00:59:50,560
Speaker 5: Our our new online school Man University and shot has

1265
00:59:50,560 --> 00:59:52,880
Speaker 5: to merch on. So that's that's on this way, the

1266
00:59:52,920 --> 00:59:55,640
Speaker 5: new merch for Early Leisure University. And obviously I'm wearing

1267
00:59:55,680 --> 00:59:58,480
Speaker 5: ascess of reliabilities and so this season it's cold in

1268
00:59:58,480 --> 00:59:59,440
Speaker 5: New York. It's cold d C.

1269
00:59:59,800 --> 01:00:02,600
Speaker 3: So I'll get you a hoodie and keep your point.

1270
01:00:02,680 --> 01:00:02,800
Speaker 4: Man.

1271
01:00:02,840 --> 01:00:04,680
Speaker 5: We appreciate it allows us to do things like this,

1272
01:00:04,800 --> 01:00:07,440
Speaker 5: come to DC and touch base with some people who

1273
01:00:07,440 --> 01:00:08,560
Speaker 5: are doing some amazing things.

1274
01:00:08,920 --> 01:00:11,240
Speaker 4: Yeah for sure. And once again the merch e Yo

1275
01:00:11,400 --> 01:00:14,560
Speaker 4: University to the new wave that we're on right now.

1276
01:00:14,560 --> 01:00:16,360
Speaker 4: This is a really really dope platform. And you can

1277
01:00:16,600 --> 01:00:18,520
Speaker 4: teach a class for us what we do, Yeah for

1278
01:00:18,560 --> 01:00:20,640
Speaker 4: sure we do. We do three classes a week and

1279
01:00:20,680 --> 01:00:23,240
Speaker 4: we have like guest lecturers that we kind of rotate

1280
01:00:23,240 --> 01:00:25,200
Speaker 4: from our alumn that you're an alum. That's what we

1281
01:00:25,240 --> 01:00:30,800
Speaker 4: call our guests. So yeah, Yo University is really really

1282
01:00:30,840 --> 01:00:33,439
Speaker 4: dope platform that we're really proud of. And once again,

1283
01:00:33,520 --> 01:00:36,120
Speaker 4: d m V thank you for the hospitality Atlanta. We

1284
01:00:36,160 --> 01:00:39,200
Speaker 4: will see you guys soon January.

1285
01:00:39,440 --> 01:00:41,680
Speaker 3: That's a fact you put in your calendar.

1286
01:00:43,840 --> 01:00:46,800
Speaker 4: Five up for sure. So and the book tip of

1287
01:00:46,840 --> 01:00:51,240
Speaker 4: this week is the African American African American entrepreneurship then

1288
01:00:51,280 --> 01:00:54,800
Speaker 4: and now. So this whole conversation, well, the large majority

1289
01:00:54,800 --> 01:00:58,080
Speaker 4: of conversation was about entrepreneurship. So there's something that we

1290
01:00:58,080 --> 01:01:00,520
Speaker 4: want to just keep encouraging people to become. We'll not

1291
01:01:00,600 --> 01:01:04,240
Speaker 4: just come become entrepreneur just to say you're entrepreneur, to win,

1292
01:01:04,440 --> 01:01:05,920
Speaker 4: like you don't want to just play the game, want

1293
01:01:05,920 --> 01:01:09,400
Speaker 4: to actually win and that help other people. Yeah, exactly,

1294
01:01:09,440 --> 01:01:11,000
Speaker 4: And that's what happened to Plan is about. And that's

1295
01:01:11,000 --> 01:01:13,920
Speaker 4: what happened strategy is about. So that's what it's about.

1296
01:01:14,040 --> 01:01:15,880
Speaker 4: So once again, thank you guys for rocking on us. We'

1297
01:01:15,880 --> 01:01:16,520
Speaker 4: see you next week.

1298
01:01:16,560 --> 01:01:20,600
Speaker 6: Pase pease, you just realized your business needed to hire

1299
01:01:20,640 --> 01:01:26,280
Speaker 6: someone yesterday? How can you find amazing candidates fast? Easy?

1300
01:01:26,760 --> 01:01:30,160
Speaker 6: Just use indeed, stop struggling to get your job posts

1301
01:01:30,160 --> 01:01:33,880
Speaker 6: seen on other job sites. With Indeed sponsored jobs, your

1302
01:01:33,920 --> 01:01:35,920
Speaker 6: post jumps to the top of the page for your

1303
01:01:35,920 --> 01:01:39,240
Speaker 6: relevant candidates, so you can reach the people you want faster.

1304
01:01:39,760 --> 01:01:43,560
Speaker 6: According to Indeed data, sponsored jobs posted directly on Indeed

1305
01:01:43,760 --> 01:01:47,560
Speaker 6: have forty five percent more applications than non sponsored jobs.

1306
01:01:47,840 --> 01:01:51,040
Speaker 6: Don't wait any longer. Speed up your hiring right now

1307
01:01:51,120 --> 01:01:53,760
Speaker 6: with Indeed, and listeners of this show will get a

1308
01:01:53,840 --> 01:01:56,800
Speaker 6: seventy five dollars sponsored job credit to get your jobs

1309
01:01:56,840 --> 01:02:01,240
Speaker 6: more visibility at indeed dot com slash p d k

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Speaker 6: A t z thirteen. Just go to indeed dot com

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Speaker 6: slash p O d k A t z thirteen right

1312
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Speaker 6: now and support our show by saying you heard about

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Speaker 6: Indeed on this podcast. Terms and conditions apply. Hiring Indeed

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Speaker 6: is all you need