1 00:00:00,400 --> 00:00:02,120 Speaker 1: You know, like you want to own the market. 2 00:00:02,240 --> 00:00:06,280 Speaker 2: So the plan is that you can go so fast 3 00:00:06,880 --> 00:00:09,880 Speaker 2: that no one be able to compete, and at scale 4 00:00:10,320 --> 00:00:13,680 Speaker 2: it will become super super profitable because. 5 00:00:13,360 --> 00:00:16,040 Speaker 1: You'll have everyone. 6 00:00:16,079 --> 00:00:19,599 Speaker 2: You know, So there's a lot of upfront investment that 7 00:00:19,720 --> 00:00:22,440 Speaker 2: requires that, but you just push out all your competitors 8 00:00:22,760 --> 00:00:25,320 Speaker 2: and then you own the market. For instance, taking like 9 00:00:25,360 --> 00:00:28,880 Speaker 2: a salesforce, you know, they own the market. So we 10 00:00:29,000 --> 00:00:32,080 Speaker 2: want to be a salesforce of the barbershops around the world. 11 00:00:32,200 --> 00:00:35,559 Speaker 2: So and that that requires capital, it requires speed, it 12 00:00:35,600 --> 00:00:36,519 Speaker 2: requires execution. 13 00:00:37,040 --> 00:00:39,320 Speaker 3: So that's kind of that's why you're raising money. 14 00:00:40,880 --> 00:00:44,120 Speaker 4: So over the past week or so, I've had conversations 15 00:00:44,159 --> 00:00:48,080 Speaker 4: in different places with no less than six entrepreneurs in 16 00:00:48,120 --> 00:00:50,720 Speaker 4: the health, beauty and wellness spaces. 17 00:00:50,960 --> 00:00:52,320 Speaker 5: So just that as a sign. 18 00:00:52,080 --> 00:00:55,560 Speaker 4: To put together an episode that outlines how black entrepreneurs 19 00:00:55,640 --> 00:00:59,920 Speaker 4: in these spaces cannot just create jobs for themselves because 20 00:01:00,000 --> 00:01:05,039 Speaker 4: scale of business that employs people and generates high value revenue. 21 00:01:05,120 --> 00:01:07,600 Speaker 4: The Small Business Administration put out a report a few 22 00:01:07,720 --> 00:01:11,560 Speaker 4: years back that stated, and I'm paraphrasing, that minority owned 23 00:01:11,560 --> 00:01:14,760 Speaker 4: businesses eighty percent of them in fact, are in the 24 00:01:14,800 --> 00:01:18,679 Speaker 4: bottom twenty percent of industries for revenue. This means that 25 00:01:18,760 --> 00:01:22,039 Speaker 4: we do a great job of creating businesses that don't 26 00:01:22,080 --> 00:01:25,199 Speaker 4: employ people outside of ourselves and maybe a family member, 27 00:01:25,640 --> 00:01:28,959 Speaker 4: and our revenues are low. We're not making enough money 28 00:01:29,160 --> 00:01:33,760 Speaker 4: to grow significant businesses because we're creating unscalable operations in 29 00:01:33,800 --> 00:01:37,560 Speaker 4: the industries that are already frost with low top lines, 30 00:01:37,840 --> 00:01:42,120 Speaker 4: businesses like daycares, landscaping businesses, barbershops and more. And if 31 00:01:42,120 --> 00:01:44,839 Speaker 4: you're doing that, there's no problem. I'm just talking about 32 00:01:44,840 --> 00:01:49,280 Speaker 4: the general landscape. So on today's episode, I bring you 33 00:01:49,320 --> 00:01:51,960 Speaker 4: to conversations with black people who've done it in these 34 00:01:52,000 --> 00:01:55,560 Speaker 4: industries and are still killing the game. First up is 35 00:01:55,600 --> 00:01:57,640 Speaker 4: a snippet of a conversation I had on this here 36 00:01:57,680 --> 00:02:02,000 Speaker 4: Podcasts with Cordney adelaia founder and CEO at the Main Choice, 37 00:02:02,440 --> 00:02:05,200 Speaker 4: one of the largest brands in the headcare space. And 38 00:02:05,240 --> 00:02:08,520 Speaker 4: we'll follow that up with the conversation from Afrotech executive 39 00:02:08,520 --> 00:02:11,160 Speaker 4: Los Angeles that I had with Dave Saban and Song 40 00:02:11,280 --> 00:02:15,120 Speaker 4: Larn from Squire, which is built a barbershop point of 41 00:02:15,200 --> 00:02:18,200 Speaker 4: sale and management system. 42 00:02:18,400 --> 00:02:19,280 Speaker 5: Courtney at LAE. 43 00:02:19,639 --> 00:02:22,560 Speaker 4: When you look at the field of black women and 44 00:02:22,720 --> 00:02:27,400 Speaker 4: men who start off in beauty, health wellness companies. Do 45 00:02:27,440 --> 00:02:29,799 Speaker 4: you think they go hard enough? Like what keeps them 46 00:02:29,800 --> 00:02:32,600 Speaker 4: from achieving the type of level of success You've achieved 47 00:02:32,639 --> 00:02:32,919 Speaker 4: in this. 48 00:02:32,960 --> 00:02:37,160 Speaker 6: Industry generally speaking, Do I think they go hard enough? 49 00:02:37,320 --> 00:02:40,120 Speaker 6: I would have to Unfortunately, I would have to say no. 50 00:02:40,919 --> 00:02:44,080 Speaker 6: I think for some reason, people think that when you 51 00:02:44,240 --> 00:02:47,920 Speaker 6: operate on an average level, or if you're able to 52 00:02:48,000 --> 00:02:52,119 Speaker 6: excel by just giving average. I think sometimes people think 53 00:02:52,160 --> 00:02:55,560 Speaker 6: that's enough. But in order to really scale something and 54 00:02:55,600 --> 00:02:58,360 Speaker 6: take it to the next level, it is going to 55 00:02:58,480 --> 00:03:02,040 Speaker 6: require blood, sweat, in tears that I've come to the 56 00:03:02,120 --> 00:03:06,840 Speaker 6: conclusion most people are not willing willing to do, you know, 57 00:03:07,000 --> 00:03:11,200 Speaker 6: or they think that giving normal or average is okay, 58 00:03:11,320 --> 00:03:11,800 Speaker 6: and it's not. 59 00:03:12,560 --> 00:03:14,840 Speaker 4: I've seen a lot of people, you know, with shade 60 00:03:14,840 --> 00:03:18,240 Speaker 4: butter companies and lotion companies and hair companies and et cetera. 61 00:03:18,800 --> 00:03:21,400 Speaker 4: And I'd like you to speak to like knowing your 62 00:03:21,480 --> 00:03:24,160 Speaker 4: numbers a little bit, because like how do you price 63 00:03:24,360 --> 00:03:26,920 Speaker 4: in early? How do you get to figuring out what 64 00:03:26,960 --> 00:03:28,960 Speaker 4: those unit costs out? Like what does it cost to 65 00:03:28,960 --> 00:03:29,840 Speaker 4: make one bottle? 66 00:03:30,520 --> 00:03:34,840 Speaker 6: Right? That is such an interesting conversation and topic because 67 00:03:35,240 --> 00:03:37,160 Speaker 6: it's the number one pain point when I do the 68 00:03:37,200 --> 00:03:41,000 Speaker 6: master classes. I'll ask somebody their costs. Most people can't 69 00:03:41,040 --> 00:03:43,480 Speaker 6: answer it, how much does it cost you to make 70 00:03:43,480 --> 00:03:46,040 Speaker 6: this product? Or they'll tell me, oh, it's this. I'm like, 71 00:03:46,080 --> 00:03:49,360 Speaker 6: wait a minute, are we talking about the top, the bottle, 72 00:03:49,520 --> 00:03:52,400 Speaker 6: the lid, the ingredients? And they're like, okay, well, okay, 73 00:03:52,440 --> 00:03:55,280 Speaker 6: let me add the Wait a minute, who shipped this stuff? 74 00:03:55,840 --> 00:03:57,920 Speaker 6: Did it shipped from there to you? And who paid 75 00:03:57,920 --> 00:03:58,520 Speaker 6: for this shipping? 76 00:03:58,600 --> 00:03:59,480 Speaker 1: Who I pay for it? 77 00:04:00,080 --> 00:04:02,360 Speaker 6: You have to put the shipping cost in there. So 78 00:04:02,480 --> 00:04:05,000 Speaker 6: if you don't know your numbers, if you don't price 79 00:04:05,040 --> 00:04:08,280 Speaker 6: your stuff right, I've seen it once and I would 80 00:04:08,320 --> 00:04:11,400 Speaker 6: definitely say that is one of the leading costses why 81 00:04:11,480 --> 00:04:14,880 Speaker 6: people cannot scale their company. There are some people out 82 00:04:14,880 --> 00:04:19,119 Speaker 6: there who have good products, good services, but this stuff 83 00:04:19,200 --> 00:04:20,960 Speaker 6: is not priced right, and they're like, oh my god, 84 00:04:21,600 --> 00:04:25,279 Speaker 6: I legit had ten thousand dollars in sales this month, 85 00:04:25,560 --> 00:04:29,400 Speaker 6: but I have zero dollars in my account. How your 86 00:04:29,480 --> 00:04:32,600 Speaker 6: numbers is not right. You can't even afford to run 87 00:04:32,640 --> 00:04:34,960 Speaker 6: a sell if you wanted to. You can't even give 88 00:04:35,040 --> 00:04:38,240 Speaker 6: twenty five percent off. You can't get free shipping if 89 00:04:38,279 --> 00:04:40,520 Speaker 6: your numbers is not priced where it's supposed to be. 90 00:04:41,040 --> 00:04:44,400 Speaker 6: So I think that's that's definitely up there as number one. 91 00:04:44,880 --> 00:04:45,599 Speaker 3: There's number one. 92 00:04:47,160 --> 00:04:50,920 Speaker 4: So does it require building a CpG company consumer package 93 00:04:50,960 --> 00:04:53,720 Speaker 4: a good company? Does it require venture funding? How can 94 00:04:53,760 --> 00:04:54,520 Speaker 4: you bootstrap this? 95 00:04:55,600 --> 00:04:55,840 Speaker 3: No? 96 00:04:56,040 --> 00:04:58,839 Speaker 6: I think nowadays, I like, I got a philosophy that 97 00:04:58,920 --> 00:05:03,160 Speaker 6: says grow as you go. That means you can go 98 00:05:03,200 --> 00:05:05,839 Speaker 6: out there on social media. You can, And this is 99 00:05:05,839 --> 00:05:08,680 Speaker 6: why it's important that I teach how to run social 100 00:05:08,680 --> 00:05:11,360 Speaker 6: media and grow it because these are quote unquote free 101 00:05:11,400 --> 00:05:14,320 Speaker 6: ways to market. If you make a dollar, and this 102 00:05:14,400 --> 00:05:17,080 Speaker 6: is one thing I was always committed to for years, 103 00:05:18,040 --> 00:05:21,280 Speaker 6: every dollar that I made, I put it right back 104 00:05:21,320 --> 00:05:25,359 Speaker 6: into my company. You spend to five thousand dollars to 105 00:05:25,400 --> 00:05:29,719 Speaker 6: build your company. And let's say you've you've had four 106 00:05:29,760 --> 00:05:32,920 Speaker 6: thousand dollars worth of sales, Well, you still haven't made 107 00:05:32,960 --> 00:05:35,240 Speaker 6: any money yet, you know what I mean? 108 00:05:35,440 --> 00:05:36,800 Speaker 5: Because you spend. 109 00:05:36,520 --> 00:05:41,320 Speaker 6: Five So that again, that's that's that's the tough part. 110 00:05:41,360 --> 00:05:43,960 Speaker 6: But can you grow as you go? You don't necessarily 111 00:05:44,040 --> 00:05:46,279 Speaker 6: have to get funding, you know. And one thing I 112 00:05:46,320 --> 00:05:49,520 Speaker 6: always say, especially African Americans, we don't need funding. 113 00:05:49,560 --> 00:05:50,279 Speaker 3: We need support. 114 00:05:50,960 --> 00:05:51,760 Speaker 6: That's what we need. 115 00:05:51,839 --> 00:05:52,599 Speaker 3: We need support. 116 00:05:53,120 --> 00:05:55,520 Speaker 6: And I think if you have a good connection with 117 00:05:55,600 --> 00:05:59,560 Speaker 6: your consumer, which is one thing that's top of my priority. 118 00:05:59,800 --> 00:06:01,839 Speaker 6: I'm going to make sure I give a good product, 119 00:06:02,279 --> 00:06:05,640 Speaker 6: make sure I ship on time, make sure I'm transparent 120 00:06:06,000 --> 00:06:09,440 Speaker 6: if there's any hiccups along the way. You have to 121 00:06:09,480 --> 00:06:12,240 Speaker 6: be transparent with your consumer. We have we all have them. 122 00:06:12,760 --> 00:06:14,640 Speaker 6: I never ask for someone to give me a pass 123 00:06:14,760 --> 00:06:16,880 Speaker 6: or I need two weeks to get this product to you. 124 00:06:16,920 --> 00:06:18,880 Speaker 6: If there's a hiccup, I'm going to come to you 125 00:06:19,000 --> 00:06:22,760 Speaker 6: directly as the owner. We've had a hiccup. This is 126 00:06:22,800 --> 00:06:23,480 Speaker 6: how I'm going. 127 00:06:23,360 --> 00:06:24,040 Speaker 3: To resolve it. 128 00:06:24,680 --> 00:06:27,400 Speaker 6: And when you do that, no one can. They can't 129 00:06:27,440 --> 00:06:30,560 Speaker 6: help but to respect that and appreciate it and support you. 130 00:06:31,000 --> 00:06:32,480 Speaker 3: So do you have to have funding? 131 00:06:32,640 --> 00:06:33,080 Speaker 1: You don't. 132 00:06:33,520 --> 00:06:38,880 Speaker 6: You just need to really learn communication and relationships. And 133 00:06:38,920 --> 00:06:41,040 Speaker 6: I think that's key. 134 00:06:42,880 --> 00:06:44,680 Speaker 4: So I won't speak for all of us, but I 135 00:06:44,680 --> 00:06:48,279 Speaker 4: would imagine that any of my guys listening to this episode, 136 00:06:48,320 --> 00:06:52,360 Speaker 4: what if had at least one barber barbershop experience where 137 00:06:52,400 --> 00:06:56,240 Speaker 4: the barber is late, the unprofessional, they don't accept the 138 00:06:56,320 --> 00:06:59,080 Speaker 4: kind of payment we have, or we might be traveling 139 00:06:59,120 --> 00:07:01,160 Speaker 4: and don't know how to buying a local barber to 140 00:07:01,200 --> 00:07:05,400 Speaker 4: tighten up our faith This is a common issue, pervasive 141 00:07:06,040 --> 00:07:08,719 Speaker 4: and one that Dave Sylvin Song l Aryn decided to 142 00:07:08,760 --> 00:07:12,440 Speaker 4: take on together, building a suite of tools to help 143 00:07:12,480 --> 00:07:16,400 Speaker 4: barbers be more professional on the business end and provide 144 00:07:16,560 --> 00:07:20,400 Speaker 4: education to barbers to not only see themselves as contractors, 145 00:07:20,480 --> 00:07:24,600 Speaker 4: but it's business people. Squire is a barbership point of 146 00:07:24,680 --> 00:07:28,240 Speaker 4: sale and management system, and this conversation, which was held 147 00:07:28,240 --> 00:07:31,280 Speaker 4: between me, Song and Dave, was held at the first 148 00:07:31,320 --> 00:07:35,680 Speaker 4: Afrotech Executive Los Angeles, where just a little bit previously, 149 00:07:36,000 --> 00:07:38,960 Speaker 4: the co founders of Squire had announced a sixty million 150 00:07:39,000 --> 00:07:42,400 Speaker 4: dollars Series D funding ground which would then value the 151 00:07:42,440 --> 00:07:45,960 Speaker 4: company they built together at about seven hundred and fifty 152 00:07:46,080 --> 00:07:50,520 Speaker 4: million dollars. In the conversation you're about to hear, we 153 00:07:50,640 --> 00:07:54,600 Speaker 4: discuss everything from Silicon Valley investor disbelief in the value 154 00:07:54,640 --> 00:07:57,480 Speaker 4: of the market, how to get out and talk to 155 00:07:57,480 --> 00:08:00,600 Speaker 4: people who you're building products for, and how barbers can 156 00:08:00,600 --> 00:08:05,200 Speaker 4: see themselves as businesses and realize the market opportunity when 157 00:08:05,240 --> 00:08:08,920 Speaker 4: they turn up their professionalism while still finding a way 158 00:08:08,920 --> 00:08:12,320 Speaker 4: to keep their hustler's mentality. If you know a barber, 159 00:08:12,880 --> 00:08:16,160 Speaker 4: shad this episode with him to all the future CEO's 160 00:08:16,280 --> 00:08:18,840 Speaker 4: entrepreneurs out there, listen closely because my guys from Squire 161 00:08:18,880 --> 00:08:20,960 Speaker 4: are about to take this stage and show y'all the 162 00:08:21,000 --> 00:08:24,520 Speaker 4: winning formulas for startups. Please give a more welcome Dave South, 163 00:08:24,560 --> 00:08:40,079 Speaker 4: Vin song Luran from Squire. You know when you got 164 00:08:40,120 --> 00:08:43,200 Speaker 4: money you walk like that. When you got money, you 165 00:08:43,360 --> 00:08:44,560 Speaker 4: just we walk different. 166 00:08:46,640 --> 00:08:51,360 Speaker 5: It was a good year Squire. 167 00:08:52,120 --> 00:08:53,600 Speaker 4: How many of you guys, first of all, know what 168 00:08:53,640 --> 00:08:55,480 Speaker 4: Squire is before? I want to tell them the level set. 169 00:08:58,400 --> 00:09:01,520 Speaker 4: So if you are a wound the other startup, raise 170 00:09:01,559 --> 00:09:03,240 Speaker 4: your hand. I just want to I wouldn't know who's 171 00:09:03,280 --> 00:09:04,800 Speaker 4: in the room right now. If you are a founder 172 00:09:04,800 --> 00:09:06,800 Speaker 4: of a start if you're running a company, all right. 173 00:09:07,840 --> 00:09:10,360 Speaker 4: If you are an investor in companies and you can 174 00:09:10,360 --> 00:09:12,160 Speaker 4: still be a starting to founder too. If you're an investor, 175 00:09:12,200 --> 00:09:13,960 Speaker 4: all right, So we want to know who's in the room. 176 00:09:14,280 --> 00:09:17,040 Speaker 4: If you are an executive, you climbing up the corporate ladder, 177 00:09:17,160 --> 00:09:20,199 Speaker 4: you are working for an enterprise, raise your hand. Also, 178 00:09:20,280 --> 00:09:22,079 Speaker 4: we just want to know who's in the room. If 179 00:09:22,120 --> 00:09:25,719 Speaker 4: you are other, I don't know what else that is. 180 00:09:25,760 --> 00:09:27,880 Speaker 4: If you're unemployed, you came to talk to Charles, you 181 00:09:27,920 --> 00:09:30,960 Speaker 4: came to talk to Levi's all right. We got a 182 00:09:30,960 --> 00:09:35,160 Speaker 4: couple of those in here too. So you guys are 183 00:09:35,200 --> 00:09:39,360 Speaker 4: in acquisition mode. You're aggressively looking to acquire. Let me 184 00:09:39,440 --> 00:09:42,120 Speaker 4: take these sunglasses off. I'm sitting directly in the sunlight 185 00:09:42,200 --> 00:09:46,319 Speaker 4: right now. Your team is growing quickly, You've got great technology. 186 00:09:46,720 --> 00:09:50,720 Speaker 4: What's most important at this stage for Squire acquiring talent 187 00:09:51,480 --> 00:09:54,560 Speaker 4: or acquiring gaps in the technology that you guys have. 188 00:09:55,360 --> 00:09:58,680 Speaker 2: I think right now the most important is acquiring talent. 189 00:09:59,320 --> 00:10:02,920 Speaker 2: Talent As an people, I think we reached your critical 190 00:10:03,440 --> 00:10:06,080 Speaker 2: point in the scale of the business where you know, 191 00:10:06,679 --> 00:10:10,079 Speaker 2: we need that layer of excellence at the top, and 192 00:10:10,120 --> 00:10:12,800 Speaker 2: that's kind of where we are at this point. 193 00:10:13,000 --> 00:10:15,200 Speaker 4: So just so of y'all know, like these guys just 194 00:10:15,400 --> 00:10:19,880 Speaker 4: raised sixty million dollars Series D, tripling their valuation, which 195 00:10:19,880 --> 00:10:22,280 Speaker 4: they tripled about a year ago. So this is like 196 00:10:22,320 --> 00:10:25,839 Speaker 4: the second triple the of the Evaluation's a billionaire boys 197 00:10:25,920 --> 00:10:27,560 Speaker 4: right now that we're talking to. So I just want 198 00:10:27,559 --> 00:10:29,199 Speaker 4: you all to recognize who's on. 199 00:10:29,160 --> 00:10:29,840 Speaker 5: Stage right now. 200 00:10:29,880 --> 00:10:31,479 Speaker 3: Close, close, close, close. 201 00:10:31,480 --> 00:10:33,959 Speaker 5: No, it's a billionaire boys in there. 202 00:10:34,520 --> 00:10:37,920 Speaker 4: So you guys are not barbers, but you do build 203 00:10:38,000 --> 00:10:40,680 Speaker 4: technology for barbers and people who get that haircut, and 204 00:10:40,720 --> 00:10:43,959 Speaker 4: so I wonder what the feedback loop was like when 205 00:10:44,000 --> 00:10:46,400 Speaker 4: you were building your company. I did hear that you 206 00:10:46,440 --> 00:10:48,480 Speaker 4: guys bought a barbershop or you ran the barbershop in 207 00:10:48,480 --> 00:10:50,280 Speaker 4: New York just to get your hands dirty and learn 208 00:10:50,280 --> 00:10:52,760 Speaker 4: about what it actually took to run the operation. How 209 00:10:52,800 --> 00:10:55,920 Speaker 4: do you ensure that you're building something that barber's need, Like, 210 00:10:55,960 --> 00:10:58,160 Speaker 4: what is that feedback loop like as you're building a 211 00:10:58,200 --> 00:10:59,800 Speaker 4: product for something that you don't do? 212 00:11:00,120 --> 00:11:03,439 Speaker 7: Yeah, I mean it starts with talking to your customers 213 00:11:03,480 --> 00:11:06,360 Speaker 7: as much as possible, trying to really learn from them, 214 00:11:07,040 --> 00:11:10,719 Speaker 7: inserting yourself into their environment. So before we had our barbershop, 215 00:11:10,920 --> 00:11:13,400 Speaker 7: we were just going sit in shops for like hours, 216 00:11:13,720 --> 00:11:16,760 Speaker 7: talking to people, talking to barbers, talking to owners, and 217 00:11:16,800 --> 00:11:18,520 Speaker 7: you know, you want to try to understand and know 218 00:11:18,600 --> 00:11:20,880 Speaker 7: your customers, like better than they know themselves. 219 00:11:21,080 --> 00:11:23,800 Speaker 3: That's the goal. And yeah, that's so that's what we did. 220 00:11:23,800 --> 00:11:25,640 Speaker 7: And it's a constantly, like you said, feedback if you're 221 00:11:25,679 --> 00:11:28,000 Speaker 7: just getting information and just learning from them. 222 00:11:28,440 --> 00:11:30,640 Speaker 4: So there are so many barbers out there that had 223 00:11:30,640 --> 00:11:34,720 Speaker 4: you probably imagine who needed your product, maybe had an 224 00:11:34,760 --> 00:11:37,880 Speaker 4: idea for a product like this. What was it that 225 00:11:38,000 --> 00:11:40,280 Speaker 4: was so special about you guys that made it work 226 00:11:40,880 --> 00:11:43,679 Speaker 4: and is really creating a lot of value in the 227 00:11:43,720 --> 00:11:45,040 Speaker 4: marketplace for those guys today. 228 00:11:45,200 --> 00:11:48,400 Speaker 3: I mean, we started from our perspective. 229 00:11:50,160 --> 00:11:53,560 Speaker 2: We you know, both Sung and I back in like 230 00:11:53,600 --> 00:11:57,800 Speaker 2: twenty fourteen twenty fifteen were busy professionals and you know, 231 00:11:57,880 --> 00:12:01,480 Speaker 2: every couple of you know, couple of days of weeks 232 00:12:01,520 --> 00:12:05,000 Speaker 2: we had to get a haircut, and the process, the 233 00:12:05,080 --> 00:12:08,280 Speaker 2: process was very archaic. It hadn't changed since you know, 234 00:12:08,360 --> 00:12:12,040 Speaker 2: we were kids. So we actually took from a took 235 00:12:12,040 --> 00:12:14,880 Speaker 2: a consumer approach to it first and say hey, what 236 00:12:14,920 --> 00:12:18,000 Speaker 2: would be the best solution to make our lives easier? 237 00:12:18,400 --> 00:12:22,920 Speaker 2: And then when we got into the real, you know, business, 238 00:12:23,000 --> 00:12:25,680 Speaker 2: we understand the problem wasn't the consumer, it was on 239 00:12:25,760 --> 00:12:27,760 Speaker 2: the business side of things. 240 00:12:28,880 --> 00:12:29,640 Speaker 5: So I mentioned this. 241 00:12:29,760 --> 00:12:32,400 Speaker 4: A lot of barbers had this idea, and some people 242 00:12:32,440 --> 00:12:34,080 Speaker 4: are still out there trying to do the but you 243 00:12:34,120 --> 00:12:37,480 Speaker 4: guys found you know, incredible success so far. 244 00:12:38,160 --> 00:12:39,760 Speaker 5: How much of the value of what. 245 00:12:39,679 --> 00:12:42,720 Speaker 4: You're doing is it the idea versus the consistency, the 246 00:12:42,720 --> 00:12:43,720 Speaker 4: hard work of the grind. 247 00:12:43,880 --> 00:12:45,720 Speaker 3: I mean, it's all about the execution. 248 00:12:46,480 --> 00:12:49,480 Speaker 7: And we were I mean, it's one of those ideas 249 00:12:49,480 --> 00:12:51,559 Speaker 7: where it's not rocket science, like a lot of people 250 00:12:51,640 --> 00:12:53,679 Speaker 7: have thought about it, and like you said, a lot 251 00:12:53,720 --> 00:12:55,679 Speaker 7: of barbers would always tell us like, oh yo, man, 252 00:12:55,720 --> 00:12:57,800 Speaker 7: I had that idea, like I've been working on that, 253 00:12:57,880 --> 00:13:00,679 Speaker 7: and a I got an app for a vart It's like, yeah, 254 00:13:01,480 --> 00:13:06,240 Speaker 7: so that's cool. But we're it's like it's a lot 255 00:13:06,280 --> 00:13:08,600 Speaker 7: harder than you think it is to like build an app, 256 00:13:09,200 --> 00:13:11,280 Speaker 7: and and we we would. 257 00:13:12,400 --> 00:13:14,240 Speaker 3: It's like execution is really what. 258 00:13:14,200 --> 00:13:17,120 Speaker 7: Matters, and like staying consistent and going through the hard 259 00:13:17,160 --> 00:13:21,280 Speaker 7: times and just like continuing to strive for your goal 260 00:13:21,760 --> 00:13:24,680 Speaker 7: and not everybody's like willing to put in that long 261 00:13:24,800 --> 00:13:27,319 Speaker 7: term like you know, commitment until they see see their 262 00:13:27,320 --> 00:13:28,360 Speaker 7: idea come to fruition. 263 00:13:29,760 --> 00:13:31,199 Speaker 3: And one of our. 264 00:13:31,160 --> 00:13:33,200 Speaker 7: Pet peeves is like we hate when people call Squire 265 00:13:33,280 --> 00:13:36,080 Speaker 7: barber app because like there's so much more to it. 266 00:13:36,120 --> 00:13:39,160 Speaker 7: Like the app is like probably five to ten percent 267 00:13:39,200 --> 00:13:40,520 Speaker 7: of the entire product suite. 268 00:13:40,920 --> 00:13:42,320 Speaker 3: It's really like a full. 269 00:13:42,160 --> 00:13:45,560 Speaker 7: Like management system back and ended in like almost like 270 00:13:45,600 --> 00:13:49,640 Speaker 7: an operating system for the barbershop. But a lot of people, 271 00:13:49,679 --> 00:13:51,920 Speaker 7: a lot of barber still here squaring and I think 272 00:13:51,920 --> 00:13:54,559 Speaker 7: barber app, so you know it is what it is. 273 00:13:56,520 --> 00:13:59,680 Speaker 4: I mean, you guys got accepted into arguably one of 274 00:13:59,679 --> 00:14:02,880 Speaker 4: the most prestigious accelerators in the game back in like 275 00:14:02,880 --> 00:14:05,079 Speaker 4: twenty fifteen. I think you graduated twenty fifteen, so you 276 00:14:05,120 --> 00:14:08,720 Speaker 4: probably went twenty sixteen, Okay, And this was at a 277 00:14:08,720 --> 00:14:12,520 Speaker 4: time when Silicon Valley still didn't believe that black haircare, 278 00:14:12,600 --> 00:14:13,840 Speaker 4: black beauty and etc. 279 00:14:14,280 --> 00:14:15,880 Speaker 5: Was a valuable proposition. 280 00:14:17,559 --> 00:14:21,160 Speaker 4: If you guys, you're sitting here today as the billionaire boys, 281 00:14:21,200 --> 00:14:24,880 Speaker 4: you know, really really successful entrepreneurs, But if you're reading 282 00:14:25,080 --> 00:14:29,680 Speaker 4: Squire's application to ye Combinator back then, what is it 283 00:14:29,760 --> 00:14:33,120 Speaker 4: about your proposition to that accelerator that says, you know what, 284 00:14:33,200 --> 00:14:34,120 Speaker 4: let's let these guys in. 285 00:14:35,000 --> 00:14:36,320 Speaker 1: We applied three times. 286 00:14:37,560 --> 00:14:41,040 Speaker 2: I mean, I think the kind of like the trait 287 00:14:41,200 --> 00:14:45,880 Speaker 2: is persistent, you know, not giving up running through walls 288 00:14:46,120 --> 00:14:51,440 Speaker 2: or jumping over fences. And I think I think, you know, 289 00:14:51,840 --> 00:14:54,480 Speaker 2: we didn't have the first time we applied. 290 00:14:55,240 --> 00:14:56,240 Speaker 1: We didn't, We weren't. 291 00:14:56,560 --> 00:14:59,240 Speaker 2: We should have gotten in the second time we applied 292 00:14:59,760 --> 00:15:02,280 Speaker 2: in you know, we didn't get into the core batch, 293 00:15:02,320 --> 00:15:04,440 Speaker 2: but we got into like a kind of like a 294 00:15:05,360 --> 00:15:08,880 Speaker 2: fellowship program that allowed us to get into the batch 295 00:15:08,960 --> 00:15:11,280 Speaker 2: the next time. But I think the fact that we 296 00:15:11,360 --> 00:15:14,000 Speaker 2: didn't get on it gave up even if we weren't 297 00:15:14,120 --> 00:15:17,200 Speaker 2: ready from our technology standpoint to get into the program. 298 00:15:17,600 --> 00:15:21,640 Speaker 2: They saw that, you know fire and like I tell 299 00:15:21,960 --> 00:15:25,440 Speaker 2: you know, folks and founders all the time, it's ninety 300 00:15:25,480 --> 00:15:28,840 Speaker 2: five percent founder at the beginning. At the beginning, it's 301 00:15:29,000 --> 00:15:31,000 Speaker 2: all about the founder. You don't invest in the business. 302 00:15:31,000 --> 00:15:33,640 Speaker 2: The business is going to change, but what doesn't change 303 00:15:33,760 --> 00:15:36,520 Speaker 2: is the person you're investing in. And you know, when 304 00:15:36,560 --> 00:15:39,320 Speaker 2: I now you know, invest in companies, that's what I 305 00:15:39,960 --> 00:15:43,440 Speaker 2: look for, is that that hunger, that grit, that determination, 306 00:15:43,960 --> 00:15:46,720 Speaker 2: because that is the that is the key to success. 307 00:15:46,960 --> 00:15:50,160 Speaker 2: And I think y Comrador they saw that among in us. 308 00:15:51,000 --> 00:15:54,480 Speaker 4: So there's so many people in this room even who 309 00:15:54,480 --> 00:15:57,800 Speaker 4: are getting accelerated into new roles, whether they be founders 310 00:15:57,800 --> 00:16:01,440 Speaker 4: seeing real opportunity for their off or they are in 311 00:16:01,520 --> 00:16:04,760 Speaker 4: the corporate space and they're getting promoted and finding success 312 00:16:04,800 --> 00:16:07,600 Speaker 4: that way. How did you guys learn how to be 313 00:16:07,760 --> 00:16:11,880 Speaker 4: CEOs and how to be entrepreneurs and successful entrepreneurs and 314 00:16:11,960 --> 00:16:16,760 Speaker 4: chief executives of millions and millions of dollars you're executing 315 00:16:17,040 --> 00:16:19,240 Speaker 4: to make sure that that's strategically placed so that you 316 00:16:19,280 --> 00:16:23,280 Speaker 4: create value for yourselves and for your investors. Very high 317 00:16:23,320 --> 00:16:27,200 Speaker 4: stakes and you're raising this money often during the pandemic. 318 00:16:28,160 --> 00:16:31,280 Speaker 4: How did you learn how to be good executives? And 319 00:16:31,320 --> 00:16:32,760 Speaker 4: how are you still learning how to do that? 320 00:16:34,920 --> 00:16:36,880 Speaker 7: Yeah, I mean, I think one of the greatest skill 321 00:16:36,920 --> 00:16:40,000 Speaker 7: sets for entrepreneurs to be successful is the skill of 322 00:16:40,520 --> 00:16:44,280 Speaker 7: learning and of continuously learning. Because if you're at a 323 00:16:44,320 --> 00:16:47,840 Speaker 7: company that's successful, the company that Squire was, or we 324 00:16:47,920 --> 00:16:50,560 Speaker 7: had ten employees, was different when we had fifty employees 325 00:16:50,720 --> 00:16:52,040 Speaker 7: versus now two hundred employees. 326 00:16:52,080 --> 00:16:53,400 Speaker 3: It's a totally different company. 327 00:16:53,680 --> 00:16:56,520 Speaker 7: So the skills that you developed early on you have 328 00:16:56,560 --> 00:16:58,920 Speaker 7: to constantly be like leveling up and like learning and 329 00:16:59,080 --> 00:17:02,720 Speaker 7: educating and and trying to, you know, learn from your mistakes. 330 00:17:02,840 --> 00:17:06,560 Speaker 7: You can't stay fixed in one in one area. You 331 00:17:06,560 --> 00:17:08,479 Speaker 7: can't stay fixed in like one phase. You have to 332 00:17:08,640 --> 00:17:11,840 Speaker 7: constantly be growing. So I think that's probably like the 333 00:17:11,880 --> 00:17:14,000 Speaker 7: biggest thing that I would say. There's no one skill 334 00:17:14,080 --> 00:17:15,919 Speaker 7: I can say if you learn this, you'll be a founder. 335 00:17:15,920 --> 00:17:19,639 Speaker 7: It's really trial and error and learning from your mistakes. 336 00:17:19,520 --> 00:17:19,679 Speaker 1: You know. 337 00:17:19,760 --> 00:17:22,040 Speaker 4: So you said something early in the conversation about getting 338 00:17:22,080 --> 00:17:24,560 Speaker 4: out and talking to the people who that you're building 339 00:17:24,600 --> 00:17:26,880 Speaker 4: your product for, and you guys today are in over 340 00:17:26,920 --> 00:17:31,679 Speaker 4: two thousand shops internationally even can you talk about what 341 00:17:31,800 --> 00:17:34,159 Speaker 4: some of those early conversations were like when you just 342 00:17:34,160 --> 00:17:36,320 Speaker 4: got this idea and you're going to talk to barber's, 343 00:17:36,760 --> 00:17:39,480 Speaker 4: what is that conversation like, so that you're asking the 344 00:17:39,560 --> 00:17:42,040 Speaker 4: right questions so you can get the answers that you 345 00:17:42,080 --> 00:17:42,879 Speaker 4: need to build something. 346 00:17:44,280 --> 00:17:47,679 Speaker 2: You know, first of a lot of bad haircuts, you know, 347 00:17:47,840 --> 00:17:53,880 Speaker 2: because like you know, I've gone to shops and Sacramento 348 00:17:53,960 --> 00:17:56,680 Speaker 2: where no one looks like me there, and you know, 349 00:17:57,040 --> 00:17:59,000 Speaker 2: in order to get. 350 00:17:58,800 --> 00:18:00,200 Speaker 5: A half hour someone's time. 351 00:18:01,800 --> 00:18:04,560 Speaker 2: Chair, so I have to get There's times I've gotten 352 00:18:04,600 --> 00:18:09,120 Speaker 2: three haircuts in a day. But but I think most 353 00:18:09,160 --> 00:18:13,520 Speaker 2: importantly it's just asking the questions that you want to 354 00:18:13,560 --> 00:18:16,719 Speaker 2: know and you know, delivering on what you said. So 355 00:18:17,280 --> 00:18:21,679 Speaker 2: for example, you know you ask, It's same thing with 356 00:18:21,800 --> 00:18:24,520 Speaker 2: like you know, if you're asking for investment, it's like, hey, 357 00:18:24,920 --> 00:18:27,840 Speaker 2: what do you need? Okay, and if I build X, 358 00:18:28,000 --> 00:18:30,360 Speaker 2: Y and Z, will you come on? And you get 359 00:18:30,359 --> 00:18:32,879 Speaker 2: the commitment. Once you get the commitment, it's up to 360 00:18:32,920 --> 00:18:35,960 Speaker 2: you to go execute against that. And then when when 361 00:18:35,960 --> 00:18:38,560 Speaker 2: you come back and say hey, I've done it. It's 362 00:18:38,640 --> 00:18:42,040 Speaker 2: very hard for people to say no when you say, hey, 363 00:18:42,480 --> 00:18:44,640 Speaker 2: here's the goal line. I'm at the goal line, now, 364 00:18:44,800 --> 00:18:48,520 Speaker 2: what's up? So that a lot of those conversations had 365 00:18:48,680 --> 00:18:49,479 Speaker 2: we had early on. 366 00:18:50,240 --> 00:18:53,480 Speaker 4: You know, it's one thing to find success domestically, but 367 00:18:53,640 --> 00:18:57,000 Speaker 4: you guys are on three continents now, and there's a 368 00:18:57,040 --> 00:18:59,240 Speaker 4: lot of people in this room who are creating value 369 00:18:59,320 --> 00:19:00,520 Speaker 4: for people all across the. 370 00:19:00,440 --> 00:19:01,280 Speaker 5: World who looked like us. 371 00:19:01,280 --> 00:19:03,080 Speaker 4: I don't know where Michelle went, but she's you know, 372 00:19:03,240 --> 00:19:05,760 Speaker 4: her audience is not just here in the United States 373 00:19:05,760 --> 00:19:10,199 Speaker 4: and the Tavio if you people like that, They're creating entertainment, 374 00:19:10,359 --> 00:19:13,680 Speaker 4: news media for people who live all across the world. 375 00:19:13,880 --> 00:19:17,320 Speaker 4: How do you find success building something for people who 376 00:19:17,359 --> 00:19:20,679 Speaker 4: live alife like we've not seen here domestically. 377 00:19:22,600 --> 00:19:25,520 Speaker 7: Yeah, I think the advantage for Squire for us is 378 00:19:25,560 --> 00:19:30,000 Speaker 7: that barbershops have mostly the same we're anywhere in the 379 00:19:30,000 --> 00:19:32,320 Speaker 7: world for the most part. You know, you can there's 380 00:19:32,320 --> 00:19:34,320 Speaker 7: only so many ways to cut hair, you know, there's 381 00:19:34,320 --> 00:19:35,840 Speaker 7: only so many kind of services you can do. 382 00:19:36,520 --> 00:19:37,760 Speaker 3: So so for us. 383 00:19:37,600 --> 00:19:40,919 Speaker 7: Like launching in Canada or launching in the UK, like 384 00:19:41,680 --> 00:19:45,040 Speaker 7: it didn't require like fundamental like shifts in our product 385 00:19:45,119 --> 00:19:48,680 Speaker 7: during like our business model or strategy. There are nuances 386 00:19:48,720 --> 00:19:51,520 Speaker 7: cultural nuances that you have to be, you know, cognizant 387 00:19:51,560 --> 00:19:54,520 Speaker 7: of We definitely made some mistakes the first time when 388 00:19:54,520 --> 00:19:58,240 Speaker 7: we tried to launch in London, and that's was earlier 389 00:19:58,280 --> 00:20:00,840 Speaker 7: on and I was a lot of it myself. 390 00:20:00,880 --> 00:20:01,560 Speaker 3: I flew out there. 391 00:20:01,640 --> 00:20:04,720 Speaker 7: We had this big customer like forty fifty location, and 392 00:20:04,800 --> 00:20:06,960 Speaker 7: we thought we were just gonna get them on and uh, 393 00:20:07,040 --> 00:20:09,560 Speaker 7: you know, we fucked up, like we just didn't. We 394 00:20:09,600 --> 00:20:11,399 Speaker 7: didn't do it well, we didn't on board them well, 395 00:20:11,560 --> 00:20:14,760 Speaker 7: we didn't. We didn't realize like some of the nuances 396 00:20:14,760 --> 00:20:16,639 Speaker 7: about how they operated things there, and it was a 397 00:20:16,640 --> 00:20:19,080 Speaker 7: horrible experience and we kind of had to go back 398 00:20:19,119 --> 00:20:21,520 Speaker 7: with that table between our legs and learn from that 399 00:20:21,600 --> 00:20:24,720 Speaker 7: and a few months later we eventually successfully did it. 400 00:20:24,760 --> 00:20:27,440 Speaker 3: But uh so, Yeah, so for us. 401 00:20:27,320 --> 00:20:29,800 Speaker 7: The international expansion is not it's probably it's not like 402 00:20:29,840 --> 00:20:31,320 Speaker 7: a lot of other places. But I would say, like 403 00:20:31,560 --> 00:20:34,040 Speaker 7: learning the culture nuances of every country that you're trying 404 00:20:34,080 --> 00:20:35,200 Speaker 7: to get into is very. 405 00:20:35,080 --> 00:20:38,520 Speaker 4: Important, you know, Dave, I've interviewed you on the podcast 406 00:20:38,520 --> 00:20:41,960 Speaker 4: before you and you've heard before. I'm sure that when 407 00:20:42,000 --> 00:20:44,080 Speaker 4: investors are looking to invest in a company, one of 408 00:20:44,080 --> 00:20:44,920 Speaker 4: the questions is, you. 409 00:20:44,840 --> 00:20:47,520 Speaker 5: Know, what makes you the right person to do this. 410 00:20:48,400 --> 00:20:52,280 Speaker 4: What would you guys say about those early conversations with investors, 411 00:20:52,680 --> 00:20:55,199 Speaker 4: how you convinced them that you were building something that 412 00:20:55,240 --> 00:20:56,520 Speaker 4: you were able to execute on. 413 00:20:57,600 --> 00:21:02,320 Speaker 2: I mean, I mean, I think the journey is super 414 00:21:02,320 --> 00:21:07,760 Speaker 2: super important. Like when early on, you know, people said, 415 00:21:07,880 --> 00:21:12,720 Speaker 2: you know, we got a lot of passes. Investors used 416 00:21:12,760 --> 00:21:15,200 Speaker 2: to think, you know, we were because we were black. 417 00:21:15,560 --> 00:21:18,280 Speaker 2: We were targeting in black barbershops, so a lot of 418 00:21:18,320 --> 00:21:22,640 Speaker 2: it was market size related. But you know, I guess 419 00:21:22,720 --> 00:21:26,320 Speaker 2: it's a combination of we actually did the work, so 420 00:21:26,440 --> 00:21:29,320 Speaker 2: we ran a barbershop, so we thought we were uniquely 421 00:21:29,800 --> 00:21:34,119 Speaker 2: positioned to build the best software for barbershops, barbers and 422 00:21:34,160 --> 00:21:37,840 Speaker 2: barbershops because we actually sat there in the kitchen and 423 00:21:38,680 --> 00:21:42,719 Speaker 2: built the software. From that perspective, and the other thing is, 424 00:21:42,880 --> 00:21:46,879 Speaker 2: you know, tenacity, we didn't give up, you know, and 425 00:21:46,960 --> 00:21:49,800 Speaker 2: you know, I think and we didn't get the best deals. 426 00:21:50,040 --> 00:21:51,879 Speaker 2: You know, we didn't get the best deals early on, 427 00:21:52,920 --> 00:21:55,639 Speaker 2: but you know, I think around like twenty nineteen, there 428 00:21:55,640 --> 00:21:58,720 Speaker 2: was an inflection point where the business started taking off 429 00:21:59,119 --> 00:22:02,080 Speaker 2: and then we're able to you know, track capital at 430 00:22:02,640 --> 00:22:05,440 Speaker 2: at at prices that are very advantageous to us. 431 00:22:05,840 --> 00:22:07,680 Speaker 4: I want to go in there because you've you've gone 432 00:22:07,720 --> 00:22:09,760 Speaker 4: on the record talking about how venture capital can be 433 00:22:09,840 --> 00:22:13,840 Speaker 4: a necessary evil and what are some of the advantages, 434 00:22:13,840 --> 00:22:17,200 Speaker 4: because so many of us do struggle with raising capital, 435 00:22:17,680 --> 00:22:20,600 Speaker 4: But what are some of the benefits of raising capital 436 00:22:20,800 --> 00:22:23,040 Speaker 4: that you guys have found to be true? 437 00:22:23,480 --> 00:22:26,000 Speaker 5: Generally for startups, technology startups. 438 00:22:27,480 --> 00:22:29,520 Speaker 7: It gives you fuel, you know, it gives your time, 439 00:22:29,680 --> 00:22:32,720 Speaker 7: it gives your fuel, gives your resources. It allows you 440 00:22:32,760 --> 00:22:36,000 Speaker 7: to like move faster than competition and just really try to. 441 00:22:35,960 --> 00:22:38,359 Speaker 3: Like own the market. Yeah, help my brother out right here. 442 00:22:39,000 --> 00:22:39,600 Speaker 5: All of us are. 443 00:22:41,480 --> 00:22:46,800 Speaker 3: Nothing up. And it's it's a it's a it's a 444 00:22:46,840 --> 00:22:49,440 Speaker 3: strategic advantage, you know, and it can be used. 445 00:22:49,560 --> 00:22:52,159 Speaker 7: It can be used as real as a shield and 446 00:22:52,280 --> 00:22:54,879 Speaker 7: as a sword, like aggressively, so you can do things 447 00:22:54,920 --> 00:22:57,439 Speaker 7: that an undercapitalized company just won't be able to do, 448 00:22:57,840 --> 00:22:58,760 Speaker 7: and you can hire. 449 00:22:58,560 --> 00:22:59,200 Speaker 3: The best people. 450 00:23:00,240 --> 00:23:02,960 Speaker 7: So, you know, there are some disadvantages to raising money, 451 00:23:03,000 --> 00:23:05,680 Speaker 7: and we can talk about that, but I think that 452 00:23:05,720 --> 00:23:08,280 Speaker 7: the advantage is outweigh the disadvantages for sure. 453 00:23:08,640 --> 00:23:10,520 Speaker 4: I do want to talk about that because when we 454 00:23:10,600 --> 00:23:14,920 Speaker 4: see these in many ways outrageous numbers, when we talk 455 00:23:14,920 --> 00:23:17,399 Speaker 4: about a company can raise something like sixty million dollars, 456 00:23:17,440 --> 00:23:19,680 Speaker 4: like you guys, and you know, somebody like a delayed 457 00:23:19,680 --> 00:23:22,439 Speaker 4: partnell with play versus, you know, raise ninety million, one 458 00:23:22,480 --> 00:23:26,040 Speaker 4: hundred dollars, and these numbers you often and I heard 459 00:23:26,080 --> 00:23:28,040 Speaker 4: like you guys weren't even looking to raise at the time, 460 00:23:28,640 --> 00:23:33,879 Speaker 4: and why does a company need that kind of capital? 461 00:23:34,800 --> 00:23:37,159 Speaker 4: And so when the public is reading these stories like 462 00:23:37,200 --> 00:23:38,880 Speaker 4: what's the plan, like what do you what's the plan? 463 00:23:39,280 --> 00:23:39,520 Speaker 1: What are you? 464 00:23:39,560 --> 00:23:40,800 Speaker 5: How are you going to deploy this capital? 465 00:23:40,920 --> 00:23:43,040 Speaker 1: I mean? And of one, you know, like you want 466 00:23:43,080 --> 00:23:43,879 Speaker 1: to own the market. 467 00:23:44,000 --> 00:23:48,120 Speaker 2: So the plan is that you can go so fast 468 00:23:48,640 --> 00:23:51,640 Speaker 2: that no one be able to compete, and at scale 469 00:23:52,080 --> 00:23:56,720 Speaker 2: it will become super super profitable because you'll have everyone, 470 00:23:57,840 --> 00:24:01,359 Speaker 2: you know, so there's a lot of upfront investment that 471 00:24:01,480 --> 00:24:04,200 Speaker 2: requires that, but you just push out all your competitors 472 00:24:04,520 --> 00:24:07,080 Speaker 2: and then you own the market. For instance, take like 473 00:24:07,119 --> 00:24:10,639 Speaker 2: a salesforce, you know, they own the market. So we 474 00:24:10,760 --> 00:24:13,480 Speaker 2: want to be a sales force of the barbershops around 475 00:24:13,520 --> 00:24:16,960 Speaker 2: the world. So and that that requires capital, it requires speed, 476 00:24:17,240 --> 00:24:20,479 Speaker 2: it requires execution. So that's kind of that's why we're 477 00:24:20,520 --> 00:24:21,159 Speaker 2: raising money. 478 00:24:21,320 --> 00:24:21,520 Speaker 1: You know. 479 00:24:23,240 --> 00:24:25,520 Speaker 4: The song said something early like he doesn't appreciate what 480 00:24:25,560 --> 00:24:27,520 Speaker 4: people call it just a barbershop, because that's like just 481 00:24:27,600 --> 00:24:30,560 Speaker 4: one little sliver of your offering. And you do have 482 00:24:30,600 --> 00:24:34,160 Speaker 4: that that client relationship management software in there, you do 483 00:24:34,200 --> 00:24:37,760 Speaker 4: have those analytics that you probers. But I'm curious on 484 00:24:37,840 --> 00:24:41,199 Speaker 4: how too many of our barbers see themselves as just 485 00:24:41,240 --> 00:24:43,560 Speaker 4: somebody who just goes and cuts heads. They don't see 486 00:24:43,560 --> 00:24:46,439 Speaker 4: themselves as a business. And they are business, but they 487 00:24:46,440 --> 00:24:48,920 Speaker 4: don't see themselves so they therefore they may not implement 488 00:24:48,960 --> 00:24:53,320 Speaker 4: business practices. How much of what you're offering, how do 489 00:24:53,400 --> 00:24:55,960 Speaker 4: you educate them on how to use analytics? How do 490 00:24:56,000 --> 00:25:00,320 Speaker 4: you educate them on how to deploy for themselves ACQUI 491 00:25:00,320 --> 00:25:02,359 Speaker 4: your relationship management portion of your offering. 492 00:25:03,240 --> 00:25:04,520 Speaker 3: Yeah, yeah, it is. 493 00:25:04,560 --> 00:25:09,760 Speaker 7: That is a challenge, particularly for like black barbershops. It's 494 00:25:09,880 --> 00:25:15,359 Speaker 7: we've historically been so undercapitalized and overlooked in many ways 495 00:25:15,359 --> 00:25:18,119 Speaker 7: that a lot of times our entrepreneurs, our small business 496 00:25:18,119 --> 00:25:20,320 Speaker 7: owners don't have the resources and experience. 497 00:25:21,080 --> 00:25:22,119 Speaker 3: So we try to educate. 498 00:25:22,119 --> 00:25:25,000 Speaker 7: We try to train our salespeople to be very consultative, 499 00:25:25,320 --> 00:25:28,000 Speaker 7: to like really explain to them like all the benefits 500 00:25:28,040 --> 00:25:30,360 Speaker 7: that Squire brings. And also we try to get them 501 00:25:30,359 --> 00:25:33,200 Speaker 7: to understand the benefits of not being a cash only 502 00:25:33,240 --> 00:25:36,280 Speaker 7: business in the twenty fifth century, like, they're gonna lose. 503 00:25:36,400 --> 00:25:38,359 Speaker 7: Every cash only business is gonna lose. It's just a 504 00:25:38,359 --> 00:25:41,840 Speaker 7: matter of when. And some of them are resistant to 505 00:25:41,880 --> 00:25:44,280 Speaker 7: that for you know, obvious reasons. 506 00:25:44,560 --> 00:25:46,879 Speaker 3: But we think that in the long run they'll be 507 00:25:46,880 --> 00:25:47,320 Speaker 3: better off. 508 00:25:47,359 --> 00:25:50,440 Speaker 7: They'll be able to earn more money, more repeatable, consistent 509 00:25:50,480 --> 00:25:52,160 Speaker 7: money by taking accepting cards. 510 00:25:52,720 --> 00:25:54,440 Speaker 3: And that's what consumers are. 511 00:25:54,560 --> 00:25:57,080 Speaker 7: Everybody here has a smartphone and a debit card or 512 00:25:57,119 --> 00:25:59,840 Speaker 7: credit card like and that's where the future is going, 513 00:26:00,200 --> 00:26:02,560 Speaker 7: not back to cast. So that's something that we try 514 00:26:02,600 --> 00:26:03,800 Speaker 7: to get them to understand as well. 515 00:26:04,359 --> 00:26:07,560 Speaker 4: You know, I've reassource where you've you know, you've expressed 516 00:26:07,560 --> 00:26:10,600 Speaker 4: that you want yourself to be an indicator that raising 517 00:26:10,640 --> 00:26:13,199 Speaker 4: this amount of capital is possible, but you want to 518 00:26:13,440 --> 00:26:15,159 Speaker 4: open the door for other people to be able to 519 00:26:15,240 --> 00:26:18,119 Speaker 4: raise these levels of capital. Can you talk a little 520 00:26:18,119 --> 00:26:20,800 Speaker 4: bit about if you see the landscape for us being 521 00:26:20,840 --> 00:26:23,800 Speaker 4: able to raise significant capital, not just one hundred thousand 522 00:26:23,800 --> 00:26:26,000 Speaker 4: dollars checks, not just twenty five thousand dollar checks. 523 00:26:26,200 --> 00:26:27,760 Speaker 5: Do you see that landscape changing. 524 00:26:29,040 --> 00:26:32,880 Speaker 2: It's supposed to get easier. It's supposed to get easier, 525 00:26:33,359 --> 00:26:37,280 Speaker 2: And I mean that wholeheartedly. I don't want it to 526 00:26:37,280 --> 00:26:39,800 Speaker 2: be difficult for the next round of entrepreneurs to come by. 527 00:26:40,240 --> 00:26:44,720 Speaker 2: You know, obviously we're not typical entrepreneurs in the sense 528 00:26:44,760 --> 00:26:49,000 Speaker 2: of you know, Silicon Valley, but you know, what we've 529 00:26:49,000 --> 00:26:54,920 Speaker 2: done hopefully allows folks to raise capital earlier and easier, 530 00:26:56,119 --> 00:26:58,120 Speaker 2: you know, because they have a you know, the vcs 531 00:26:58,160 --> 00:27:01,919 Speaker 2: are over melt overwhelmingly, you know, white, white folks, and 532 00:27:01,920 --> 00:27:03,800 Speaker 2: and you know they have to point to they have 533 00:27:03,880 --> 00:27:07,679 Speaker 2: the pattern match. And I understand pattern matching because you know, 534 00:27:07,840 --> 00:27:12,600 Speaker 2: humans naturally pattern match. But now, hopefully the thought is 535 00:27:12,640 --> 00:27:16,280 Speaker 2: the more successful we come, we become, the more easier 536 00:27:16,320 --> 00:27:18,880 Speaker 2: it is to you know, pattern match against us. 537 00:27:19,440 --> 00:27:22,000 Speaker 1: And uh, that's what it's. It's it's all about. 538 00:27:22,760 --> 00:27:25,280 Speaker 2: We We got a lot of passes early on, a 539 00:27:25,280 --> 00:27:27,960 Speaker 2: lot of the hundreds, a lot of no's, a lot 540 00:27:27,960 --> 00:27:30,600 Speaker 2: of knows, a lot of fucking knows, and and and 541 00:27:30,840 --> 00:27:33,760 Speaker 2: those folks are I know some of those folks have 542 00:27:33,840 --> 00:27:35,600 Speaker 2: personally reached it out and said I didn't see it, 543 00:27:36,160 --> 00:27:39,240 Speaker 2: but you know, good luck. And the hope is next 544 00:27:39,240 --> 00:27:43,280 Speaker 2: time they see a squirelike company guys would not traditional 545 00:27:43,280 --> 00:27:46,320 Speaker 2: backgrounds or what you can say traditional, they will give 546 00:27:46,359 --> 00:27:48,760 Speaker 2: them a chance, because you know, to them, you know 547 00:27:49,000 --> 00:27:51,679 Speaker 2: it's it's not that big of a deal, but to 548 00:27:51,720 --> 00:27:53,880 Speaker 2: the founder and our entrepreneur, it can make a world 549 00:27:53,880 --> 00:27:55,000 Speaker 2: of difference. 550 00:27:55,320 --> 00:27:57,240 Speaker 1: So so that's the hope and that and that's a goal. 551 00:28:11,480 --> 00:28:11,760 Speaker 5: Alright. 552 00:28:11,880 --> 00:28:13,640 Speaker 4: So before I get out of here today, I want 553 00:28:13,680 --> 00:28:18,360 Speaker 4: to drop a line about afro Tech Executive for this episode. 554 00:28:18,480 --> 00:28:20,880 Speaker 4: In the last we've dipped our toes in the water 555 00:28:21,320 --> 00:28:24,520 Speaker 4: of what it's like to be at an afrotech executive event, 556 00:28:24,760 --> 00:28:28,960 Speaker 4: events that are solely focused on C suite executives, founders, 557 00:28:29,000 --> 00:28:31,680 Speaker 4: and vcs, where we talked with some of the biggest 558 00:28:31,760 --> 00:28:34,840 Speaker 4: names in the industry about how it really goes down 559 00:28:34,880 --> 00:28:39,880 Speaker 4: behind the scenes in intimate environments. By the way, so far, 560 00:28:39,960 --> 00:28:43,840 Speaker 4: we've touched down in Los Angeles, Miami, Brooklyn, and just 561 00:28:44,000 --> 00:28:46,840 Speaker 4: announced a couple of days ago is the next afro 562 00:28:46,960 --> 00:28:50,440 Speaker 4: Tech Executive Event, and it'll be held in Washington, DC. 563 00:28:50,920 --> 00:28:54,280 Speaker 4: Meet us in the nation's capital for our last East 564 00:28:54,320 --> 00:28:58,000 Speaker 4: Coast stop in this series for twenty twenty two. Join 565 00:28:58,080 --> 00:29:02,160 Speaker 4: us for an evening celebration of connections community. The ones 566 00:29:02,200 --> 00:29:04,320 Speaker 4: we built this year and the ones we're gonna grow 567 00:29:04,400 --> 00:29:07,360 Speaker 4: is shining the light on the opportunities to cultivate black 568 00:29:07,400 --> 00:29:10,720 Speaker 4: wealth with some of the best and brightest in the game. 569 00:29:12,120 --> 00:29:13,480 Speaker 5: Tickets are available now. 570 00:29:13,440 --> 00:29:18,360 Speaker 4: At Experience dot afrotech dot com and I so look forward. 571 00:29:18,520 --> 00:29:19,400 Speaker 3: To seeing you there. 572 00:29:21,120 --> 00:29:23,640 Speaker 4: Black Tech Green Money is a production of Blavity Afro 573 00:29:23,800 --> 00:29:27,400 Speaker 4: Tech on the Black Effect podcast Network and iHeartMedia and 574 00:29:27,400 --> 00:29:31,120 Speaker 4: it's produced by Morgan Debonne and me Well Lucas, with 575 00:29:31,240 --> 00:29:35,680 Speaker 4: the additional production support by Lovebeach and Marissa Lewis. Special 576 00:29:35,680 --> 00:29:38,400 Speaker 4: thank you to Michael Davis, Jermaine Hall, and the Carlsavon 577 00:29:38,520 --> 00:29:40,040 Speaker 4: Young you know like the Wine. 578 00:29:40,240 --> 00:29:41,400 Speaker 5: Yes that's his real name. 579 00:29:42,520 --> 00:29:44,440 Speaker 4: Learn more about my guests and other tech di's rather 580 00:29:44,440 --> 00:29:47,400 Speaker 4: as an innovators at afrotech dot com and if you 581 00:29:47,440 --> 00:29:50,440 Speaker 4: are enjoying Black Tech Green Money, leave us a five 582 00:29:50,440 --> 00:29:55,760 Speaker 4: star rating on iTunes. Go eat your money piece and 583 00:29:55,840 --> 00:29:56,080 Speaker 4: love 584 00:30:03,640 --> 00:30:03,680 Speaker 6: Not