Speaker 1: It's time for the b a qa A the b
Speaker 1: a qa What to say the ba qa with Manday
Speaker 1: the ba qa A. Hello ba Fam, I am back
Speaker 1: to answer more of your questions on this week's b Aqa.
Speaker 1: This question comes from listener Chelsea. Chelsea says, hey, ladies,
Speaker 1: I am twenty six years old and currently working in
Speaker 1: my first full time Big Girl career JOm. I'm working
Speaker 1: on transitioning to another job now. I have good credit
Speaker 1: for my age and I make good money, but I'm
Speaker 1: always working on a bigger bag. I have my own
Speaker 1: small business and very few bills, but I want to
Speaker 1: hear from you, ladies. What would you tell your twenty
Speaker 1: something self, knowing everything that you know now? I am
Speaker 1: very I'm a very proactive person, so I am working
Speaker 1: on getting into personal finance more and planning for the future.
Speaker 1: I love your show and I appreciate your advice. You know, Chelsea,
Speaker 1: this question came out a really good time for me
Speaker 1: because I was just sitting the other day in my
Speaker 1: car on the way to pick up dinner or something
Speaker 1: for the family. I sometimes give myself little errands just
Speaker 1: so I can go be alone in the car. Anyone
Speaker 1: out there also do that even if I sit in
Speaker 1: the driveway for like an extra ten minutes when I
Speaker 1: get back, like that is precious quiet time for me.
Speaker 1: But I was reflecting on my drive and I was
Speaker 1: thinking about my three bees, the book, deal, the Beyonce,
Speaker 1: the baby, and I really, yes, I'm proud of myself
Speaker 1: that I accomplished those things this year. But I looked
Speaker 1: back and I was like, you know who accomplished that,
Speaker 1: Baby Mandy when she was twenty four and opened her
Speaker 1: first four oh one K and started to invest. She's
Speaker 1: the one I can thank for the ability that I
Speaker 1: have had to build this life for myself, and she's
Speaker 1: the hero of my story. I'm getting to enjoy the
Speaker 1: fruits of baby Mandy's labor. And as I was thinking
Speaker 1: about that, God, it made me want to just like
Speaker 1: reach back in time and give her such a big
Speaker 1: hug because she worked so hard. I'm still working hard
Speaker 1: right and in another twenty years, ten years, I might
Speaker 1: be looking back and saying, ooh, thirty six year old Mandy.
Speaker 1: She was my queen. She did it all for me.
Speaker 1: But I will always have a soft spot in my
Speaker 1: soft spot in my heart for the baby Mandy of
Speaker 1: my early twenties because when there are so many reasons,
Speaker 1: distractions of opportunities to go a different way, to follow
Speaker 1: the social media pressure to put on a big show,
Speaker 1: go on vacations, you know, show off that you're doing
Speaker 1: well and you got no kids and you're having fun,
Speaker 1: and try to keep up with you know, the joneses.
Speaker 1: At that age, Baby Mandy made a different decision and
Speaker 1: decided I'm going to keep lifestyle inflation out of my picture.
Speaker 1: And lifestyle inflation, as I've said, lifestyle creep another word
Speaker 1: for it, that is like the silent killer of wealth.
Speaker 1: I promise you so many people could be genuinely debt free,
Speaker 1: wealthy well into like early like twenties and thirties if
Speaker 1: they just could beat down lifestyle inflation. So if I
Speaker 1: could go back, I would say, this is the best
Speaker 1: thing that you did, baby girl. Like the fact that
Speaker 1: when you ten x your net worth and you ten
Speaker 1: xt your income by quitting jobs and learning how to
Speaker 1: be a badass negotiator and getting those big raises as
Speaker 1: you jump from job to job and move through your career,
Speaker 1: you didn't let the extra earnings drive you to start
Speaker 1: spending more in places that didn't really like they weren't
Speaker 1: a huge value to you. And by that I mean
Speaker 1: I wasn't going out and upgrading my apartment to get
Speaker 1: the better you know, the better location, the luxury unit
Speaker 1: with the washer dryer. That living in New York City,
Speaker 1: that's kind of like a status symbol, like, oh, you
Speaker 1: have a washer dryer in your building or in your unit.
Speaker 1: Like first of all, where do you live Jersey, because
Speaker 1: that's not happening in Manhattan. But unless you got real, real, real,
Speaker 1: real big money. But you want to improve your lifestyle.
Speaker 1: You want to go out more for drinks after work,
Speaker 1: You want to you want to go on those vacations,
Speaker 1: you know, you want to go to the Hamptons like
Speaker 1: you see and TV and sex and the city you know,
Speaker 1: in the summertime and escape the city and all of that.
Speaker 2: And you want to be able to.
Speaker 1: Do the big New Year's Eve celebrations and all the
Speaker 1: things that you know, think about when you associate with
Speaker 1: New York and what you do here and being in
Speaker 1: your twenties and all of that. But I really got
Speaker 1: quiet with myself in my twenties and I was like,
Speaker 1: I value financial freedom. I never want to go back
Speaker 1: to that fear and anxiety that I felt after I
Speaker 1: moved to New York and I got let go from
Speaker 1: my very first job. I was laid off like three
Speaker 1: months after I joined back in twenty ten, and I
Speaker 1: never wanted to feel like that again. And I said,
Speaker 1: I value feeling safe. I value feeling free to make
Speaker 1: decisions that I want to make, not because I'm desperate
Speaker 1: to find a job to keep my lifestyle. And that
Speaker 1: is what I would tell any twenty something today is
Speaker 1: start to get really clear on what you value, why
Speaker 1: you are making the choices you're making today financially, and
Speaker 1: how that's going to get closer to the goals that
Speaker 1: you value. So for me, I was like, yes, it's
Speaker 1: nice to go out. And don't get me wrong, I
Speaker 1: had hell of fun in my twenties. I had a
Speaker 1: big ass wedding that I paid for cash, thirty thousand
Speaker 1: dollars wedding in Savannah, Georgia that I have no regrets about.
Speaker 1: But I was only able to save up for that
Speaker 1: wedding and I didn't want to take on debt for
Speaker 1: that wedding. By making some serious lifestyle choices to enable me,
Speaker 1: like as I was increasing my income, my husband and
Speaker 1: I moved in with his family. For I think we
Speaker 1: lasted about eight months. It was, you know, did what
Speaker 1: I could with my in laws, my future in laws.
Speaker 1: But we were able to save and set aside cash
Speaker 1: that wedding so that you wouldn't be taking on a
Speaker 1: lot of debt. And that's not the choice that a
Speaker 1: lot of people make when they finally get to you know,
Speaker 1: at the time I was making I had just gotten
Speaker 1: a new job and was making over one hundred and
Speaker 1: fifty thousand dollars a year, and I chose to live
Speaker 1: like a broke like like I did, like I wasn't,
Speaker 1: you know what I mean? And I did it for
Speaker 1: a time so I could give myself something that I valued,
Speaker 1: you know later. So looking back on baby Mandy in
Speaker 1: her twenties, I would say, that's the smartest thing that
Speaker 1: she did. So get clear on your values, Chelsea. What
Speaker 1: do you where do you want to see yourself in
Speaker 1: ten years? And what financial choices can you make now
Speaker 1: to get yourself there? So for me, it was about
Speaker 1: keeping my debt low and setting early habits to invest.
Speaker 1: And I didn't focus on how much I was setting aside.
Speaker 1: I just focused on or how sorry I didn't focus
Speaker 1: on how much I was like making in the market.
Speaker 1: I just focused on setting a goal of I'm going
Speaker 1: to be contributing ten percent automatically, and I'm going to
Speaker 1: increase that by one percent each year, and I'm going
Speaker 1: to continue this habit. And the beautiful thing about just
Speaker 1: focusing on the habit of investing and just automating it
Speaker 1: and forgetting it is that as you earn more, like
Speaker 1: you're talking about, I'm working on a bigger bag right now,
Speaker 1: as the bag gets bigger, the cut that you're taking
Speaker 1: for your investments is going to get bigger right along
Speaker 1: with it. And as you grow, you know, get older,
Speaker 1: time goes on, those investments will grow, you know, in shallah,
Speaker 1: hopefully most of the time, they will grow. Right. So,
Speaker 1: if you can just get clear on your values and
Speaker 1: set the habits of saving and investing now, I mean,
Speaker 1: you're already going to be so so far ahead of
Speaker 1: your peers and really stick with those values. And remember,
Speaker 1: like when you start looking and getting tugged in other
Speaker 1: directions and people are trying to get you to do
Speaker 1: this bottomless brunch and take this vacation, like if it's
Speaker 1: not true to you and your goals like get really
Speaker 1: secure and strong in saying no and setting that boundary
Speaker 1: and letting your friends be a part of your life,
Speaker 1: be a part of your life in other ways that
Speaker 1: are of value to you.
Speaker 2: You know.
Speaker 1: For me, I like to take vacations. I like to
Speaker 1: travel with my friends, but I was going to keep
Speaker 1: it small and I was going to go with friends
Speaker 1: who wanted to vacation at my level, you know, who
Speaker 1: weren't going to pressure me into like spending extra for
Speaker 1: first class this, or you know, the luxury villa versus
Speaker 1: the smaller bed and breakfast, you know what I mean.
Speaker 1: So I think that that's also really important is making
Speaker 1: sure that the people you surround yourself with respect your values.
Speaker 1: They don't have to have the same values or want
Speaker 1: the same things you want, but they need to respect
Speaker 1: you and where you're coming from. What I also love
Speaker 1: about you, Chelsea, you personified brown ambition. You got your
Speaker 1: first full time, big, big girl career job that you said,
Speaker 1: but you also have your small your own small business
Speaker 1: on the side, having your own source of independent income.
Speaker 2: Oh baby, Mandy.
Speaker 1: Did this in her twenties and I love her for it.
Speaker 1: She started brand ambition, and you know, obviously went on
Speaker 1: to do other creative endeavors that I'm doing now in
Speaker 1: my thirties. But just starting something in your twenties and
Speaker 1: not thinking about I need to may become a millionaire.
Speaker 1: I need to have this business, you know, get I
Speaker 1: need to become a unicorn billionaire, you know, billion dollar business,
Speaker 1: something like that, but just starting something like there's no
Speaker 1: way you're gonna be able to enjoy the fruits of
Speaker 1: any labor if you never do the labor first, right,
Speaker 1: And sometimes some of us get psyched out by the
Speaker 1: goal that's seeming too large, Like if I start a business,
Speaker 1: it has to be perfect, it has to bring in millions,
Speaker 1: you know. But and then you let that psych yourself
Speaker 1: out and you never start it. But just starting to
Speaker 1: plant the seed of some kind of entrepreneurship in you're
Speaker 1: in your early twenties to bring an additional income for
Speaker 1: yourself that it's going to give you professional resilience, meaning
Speaker 1: your big girl job it doesn't love you back. I
Speaker 1: learned that very early in my twenties. The job does
Speaker 1: not love you back. So having your own source of
Speaker 1: find like financial your own source of income, so that
Speaker 1: you can protect yourself on top of having savings, having
Speaker 1: another source of income that's not tied to your nine
Speaker 1: to five makes you so much more resilient, So I
Speaker 1: think that that's excellent. I would definitely, you know, give
Speaker 1: my baby Mandy in her twenties, a huge, huge round
Speaker 1: of applause for always kind of staying independent and having
Speaker 1: something of her own, even as I gave my all
Speaker 1: to my employer, saving a little bit for myself as well.
Speaker 1: And I love that you're doing that too. But you
Speaker 1: sound like you're an amazing shape, Chelsea, and I'm so
Speaker 1: damn proud of you, and I can't wait, like right now,
Speaker 1: if I were you, I would just like be have
Speaker 1: a shit eating grin on my face at all times,
Speaker 1: because I know for a fact, Chelsea, and you need
Speaker 1: to know this too, that in another ten years, when
Speaker 1: you're my age thirty six, you are gonna be like
Speaker 1: doing it. You're going to be living the life that
Speaker 1: you're dreaming of right now, and you can be like
Speaker 1: me in whatever version of your life you want to
Speaker 1: be in. But reflecting back and saying thank you so much,
Speaker 1: twenty six year old Chelsea for making those choices, because
Speaker 1: now I am thriving and I am loving my life
Speaker 1: exactly as I wanted to. And I wish that for
Speaker 1: so so many of us out there. Right, So you
Speaker 1: got time on your side.
Speaker 2: Good for you. Girl.
Speaker 1: Listen, if you're listening to this show and you're thirty six,
Speaker 1: forty six, fifty six, and you're like, damn it, I
Speaker 1: wish I was Chelsea. Now you still got time. Age
Speaker 1: ain't nothing but a number. But you asked Chelsea about
Speaker 1: something I'd tell my twenty something self, you know. But
Speaker 1: the trick here is that no matter what age you are, like,
Speaker 1: start telling yourself these lessons now and in another ten
Speaker 1: years we all have, you know, we don't know how
Speaker 1: much time we're going to get. We hope we have
Speaker 1: lots of time, right, and I do believe that it's
Speaker 1: never too late to start making changes and start changing
Speaker 1: your approach to money and to your career and your
Speaker 1: finances so that you can thrive and start a new
Speaker 1: you know, a new chapter for yourself. So I hope
Speaker 1: that this was helpful, Chelsea, and thanks for giving me
Speaker 1: a chance to reflect. And you know, pat baby Mandy
Speaker 1: on the shoulder for doing the damn thing. And I
Speaker 1: hope in another ten years I'll be just as proud
Speaker 1: of who I am now, for making the decisions that
Speaker 1: I am now that are going to help me continue
Speaker 1: thriving in my forties and beyond. I'm going to take
Speaker 1: a quick break and be right back with question number two.
Speaker 3: And I'm back and I'm black and I'm brown ambition.
Speaker 2: Shit, I'm back and I'm black and I'm brown Ambish.
Speaker 3: Shit. I'm black and I'm black and I'm brown ambition.
Speaker 3: Don't you wish we could be friends?
Speaker 2: Hey? Okay, so we are back for question new it all? Dude.
Speaker 3: I was talking to one of my mentees today that
Speaker 3: recently just lost his grandmother a couple of days ago,
Speaker 3: so just had me thinking about grief all over again.
Speaker 2: And he has been in business for a couple of years, and.
Speaker 3: You know, he's been having a hard time, and he
Speaker 3: was just asking, like, how do you just even start, Tiffany.
Speaker 3: You know, like he's it's been like, I think like
Speaker 3: five years. He's made a little money here there, you know,
Speaker 3: and it's like not from this big budget niece to
Speaker 3: space where like I have an access and knowledge of dad,
Speaker 3: how do you just start? And so me answering the
Speaker 3: question for him, and it's funny because he called me.
Speaker 3: And then I have another mentee who has like a
Speaker 3: business that you probably know if I say it, but
Speaker 3: still he was kind of struggling too. He has a
Speaker 3: business with his wife, and I was like, I know
Speaker 3: his wife for a long time, and we were talking
Speaker 3: on the phone for like an hour, and I was
Speaker 3: just kind of pouring into him, and I thought, this
Speaker 3: is going to be a good question to answer, like
Speaker 3: how how do you how do you start, you know,
Speaker 3: how do you start to walk towards success in business?
Speaker 3: And what both of them they both have businesses that
Speaker 3: very much are good for the community, you know, like
Speaker 3: it's good for our community, Like these are black centric
Speaker 3: focus businesses that are meant to uplift and uphold and
Speaker 3: enhance and empower our communities. And so they've been doing
Speaker 3: that work for a number of years and they're like,
Speaker 3: but I'm not making sustainable money. And this lesson took
Speaker 3: me a long time to learn.
Speaker 2: But you've been a learner.
Speaker 3: Tip that you can't go get you a notebook, go
Speaker 3: get you a notebook. So here's a lesson I had
Speaker 3: to learn because I too have a community based business
Speaker 3: that doing a good job with the community side is
Speaker 3: not the same thing as making money. I know. It's like, what, Okay,
Speaker 3: you have to have an impact plan if that's what
Speaker 3: you so desire, and then.
Speaker 2: A separate income plan.
Speaker 3: Many of us who start businesses to be of service
Speaker 3: to our people, we already have the impact plan. We
Speaker 3: know it's built into our DNA or you I'll get
Speaker 3: a help right and then like, and I know it
Speaker 3: took me four or five years of perfecting my impact
Speaker 3: plan and wondering why I was still broke before I
Speaker 3: realized I don't actually have a plan to make money.
Speaker 3: I just assume if I make the bigger the impact
Speaker 3: money would come. Is say, lie, maybe every once in
Speaker 3: a while you get a little lucky.
Speaker 2: You're almost like you hit a lick.
Speaker 3: But the truth of the matter is that's not actually
Speaker 3: how it works. Like, that's really actually not how it works.
Speaker 3: That like you have to have a separate income plan.
Speaker 3: Here's a crazy thing. You can have major impact make
Speaker 3: no money. You can have all this income and not
Speaker 3: have impact on people in a positive way.
Speaker 2: That's the crazy part.
Speaker 3: Like you could if you could literally just have an
Speaker 3: income plan and have a successful business.
Speaker 2: But how you want to sleep at night? Because I
Speaker 2: sleep good.
Speaker 3: So I like to have an impact and an income plan. Okay, now,
Speaker 3: how you and yours do in your household, that's up
Speaker 3: to you. But what I'm saying is is that you
Speaker 3: always have to have an income plan. How will I
Speaker 3: make money? Separate from the impact, How will I make money?
Speaker 3: And so I started. Once I realized that I started
Speaker 3: to really look at I'm like, Wow, all the things
Speaker 3: I'm doing to create impact, none of these.
Speaker 2: Things make me money.
Speaker 3: And if I'm being honest, the budget Niza, which is
Speaker 3: my first business, my first baby, I still struggle with
Speaker 3: them because my first mind is always impact, impact, impact.
Speaker 3: I'll give you an example. I recently did a wealth
Speaker 3: walk in Maryland, and so my wealth walk went really good.
Speaker 3: Like the first wealth walk I had in Jersey, I
Speaker 3: think like fifty people showed up, which was nice.
Speaker 2: We just walked and talked about money.
Speaker 3: The second walk I had a Mayland, about one hundred
Speaker 3: people showed up, and then this time we went live
Speaker 3: and four thousand people showed up live.
Speaker 2: It went great, But the.
Speaker 3: Wealth Walk is impact, and it was such a heavy
Speaker 3: lift for my team, and it cost me money to
Speaker 3: fly out there and to get a hotel to hire
Speaker 3: the photographer and Da da.
Speaker 2: Da da dah. There was no income menia and people
Speaker 2: keep saying, ooh, can you do a wealth walk?
Speaker 3: Kick you, I can't afford to do that, and I'm
Speaker 3: struggling with I want to do more wealth walks because
Speaker 3: they were It was so amazing because one y'all know,
Speaker 3: I've been a walking child, right, snches since has been getting.
Speaker 2: Snatched, right.
Speaker 3: And I know for our community, especially for black and
Speaker 3: brown people, but especially for black women, the impact of
Speaker 3: like of distress and diabetes and high blood pressure and hypertension,
Speaker 3: all these things we carry in our body, that walking
Speaker 3: is a great tool that for the majority of us,
Speaker 3: is not overly taxing. You know, it's a community based activity.
Speaker 3: It's so good for your legs and your limbs, and
Speaker 3: also for most people, not everyone. I know that everyone
Speaker 3: is not able. But the beautiful part about the Wealth
Speaker 3: walk is that we walk and then those who could
Speaker 3: not walk, we came back anyway to a you know, safe,
Speaker 3: secure place, and then we talk about money. And the
Speaker 3: last one I did was with the counsel Counselman at
Speaker 3: Large Will Juando in Maryland, and he talked about how
Speaker 3: to how to lean into legislation and your politicians in
Speaker 3: a way that will impact your wealth.
Speaker 2: So it was awesome.
Speaker 3: I mean, Will was so knowledgeable from how to get
Speaker 3: money for your businesses to how to purchase a home
Speaker 3: using the tools available to you in your state.
Speaker 2: It was just so impactful. No income, all of that awesome.
Speaker 3: And I know if I do the next one two
Speaker 3: hundred and the next one three hundred and next one
Speaker 3: front and no income, and I realize, okay, I have
Speaker 3: to have an income plan. And so some of the
Speaker 3: things I can do is I can sell T shirts
Speaker 3: like Wealth Walk T shirts.
Speaker 2: I thought about that.
Speaker 3: Also, I can say, hey brands, hey brands, looking like
Speaker 3: you always do, why don't you sponsor or Wealth Walk?
Speaker 3: Because you get these people in person one hundred, two hundred,
Speaker 3: three hundred, and then on top of that, you get
Speaker 3: thousands of people watching the walk the talk part of
Speaker 3: the Wealth Walk, and so there's like, you know, potential
Speaker 3: for sponsorship there.
Speaker 2: So I have not done those things yet.
Speaker 3: But what I'm saying is that even me a season entrepreneur,
Speaker 3: fifteen years in the game, I still struggle with the
Speaker 3: income impact component.
Speaker 2: Okay. And so I was telling my mentees about so
Speaker 2: here's how I had him start and hopefully these these
Speaker 2: will help for you. You ready, get shippad down.
Speaker 3: I know you probably driving the car, and to pull
Speaker 3: over to the side of the road, get your pen on,
Speaker 3: and say.
Speaker 2: Here are the steps.
Speaker 3: One I always visualize whenever I'm trying to reach your goal.
Speaker 3: I always visualize a white board, typically a corkboard, and
Speaker 3: I say, put your numbers on the board. So I
Speaker 3: want you to visualize a whiteboard or a corkboard and
Speaker 3: put a number at the top of the board. And
Speaker 3: so that number can be a number of people you
Speaker 3: want to sign up for your email list or whatever.
Speaker 3: But we're talking about income right now. So we're gonna
Speaker 3: put an income number on the board. And it has
Speaker 3: to be.
Speaker 2: Folk. It has to be based on something concrete.
Speaker 3: So for one of my mentees, it was based upon
Speaker 3: he was filing some paperwork for his big or whatever,
Speaker 3: and like he had some lawyer fees and blah blah
Speaker 3: blah blah, and I was like, add up those fees
Speaker 3: so you can get very clear on the number, you know,
Speaker 3: So for you, you want to get very clear on
Speaker 3: So I don't want you to just come up with
Speaker 3: some random and oh, I would love to make ten thousand.
Speaker 2: I don't care about all that.
Speaker 3: What number do you need to make for a specific reason,
Speaker 3: because it's going to give you purpose to walk toward it.
Speaker 3: So you might say, honestly, I need to make three thousand,
Speaker 3: five hundred because that's how much three months worth of
Speaker 3: rent and the place that I want to rent, I
Speaker 3: don't know, and just make it to them. Or maybe
Speaker 3: you need to get materials for whatever, the paintings that
Speaker 3: you sell and the materials you added it all up,
Speaker 3: it's like two hundred, I don't know. Get that number
Speaker 3: on the board and a timeframe. Numbers are critical, So
Speaker 3: that's going to go on the top of your board.
Speaker 3: You can go on a real board or the board
Speaker 3: in your head. Okay, that goes first on the board. Okay,
Speaker 3: very clear. So it's the number that you need to hit,
Speaker 3: specific number based upon a specific goal and a timeframe.
Speaker 3: Those two numbers go on top. Second on the board.
Speaker 3: Is that's your must make number. Second number on the
Speaker 3: board is your like to make numbers. So let's just
Speaker 3: say it's twelve hundred dollars is what you need to
Speaker 3: make in order to buy the materials to do your paintings,
Speaker 3: but ideally you would love to make two thousand dollars
Speaker 3: in the next three months. So maybe you said to yourself,
Speaker 3: you know, I want to like, you know, I have
Speaker 3: three months because I don't know essence fast or invest
Speaker 3: fast or whatever's coming up, and I need my painting
Speaker 3: to be ready by then, you know, or whatever. I'm
Speaker 3: just making it up like that's why you have the
Speaker 3: three month timeframe. You need to make the twelve hundred
Speaker 3: because you added up how much pain and whatever things
Speaker 3: you need are gonna cost you in twelve hundred is
Speaker 3: what you need to make.
Speaker 2: Second number on the board what I like to make.
Speaker 3: It would be cute if I could make two thousand now, okay,
Speaker 3: a little boost up, a little reach. So that's the
Speaker 3: second number on the board. You with me, okay. Third
Speaker 3: thing on the board is I want you if you
Speaker 3: already have been in business, I want you to write
Speaker 3: down a number of ways you've already made money before.
Speaker 3: So you might say, you know, I did sell one
Speaker 3: painting before, or I did sell a T shirt before,
Speaker 3: or you know what, my sister's best friend did pay
Speaker 3: me to make a cake. I need you to write
Speaker 3: down all the ways you've made money before, and if
Speaker 3: you haven't made any money because you're brand new, I
Speaker 3: need you to write down ways that people have made
Speaker 3: money in the space that you're in before. I'm not
Speaker 3: talking about big, big ways. I'm talking about people who
Speaker 3: are similar size to me. You're like, Yo, my homegirl,
Speaker 3: you know she sold I don't know, acrylic nails, or
Speaker 3: she's done retightening of.
Speaker 2: Hair or whatever that is.
Speaker 3: So either ways you've made money before, or ways that
Speaker 3: you've seen someone who's about at your level has made
Speaker 3: money before. Okay, write down as many ways as possible.
Speaker 2: You're ready.
Speaker 3: So remember number one, how many time frame and a
Speaker 3: specific amount that you want to make within that timeframe
Speaker 3: based upon specific goals, not just these random things, based
Speaker 3: on specific goals. Two, same timeframe, but your stretch goal,
Speaker 3: add another five hundred to it, and add thousand to it.
Speaker 2: Stretch goal.
Speaker 3: Three ways that you've already made money in this space already,
Speaker 3: or ways that you've seen people who are at your level,
Speaker 3: very beginner level made money in this space.
Speaker 2: Okay, and so we're.
Speaker 3: Doing three now three A is now here or here
Speaker 3: are the ways that because you can't do all the
Speaker 3: things right, So let's just say you write down ten
Speaker 3: different ways that you've made money in this way before,
Speaker 3: or you've seen people who are beginning make money in
Speaker 3: this way.
Speaker 2: You can't chase all of them.
Speaker 3: So you're going to write down these four questions You're
Speaker 3: going to ask yourself and it has to say yes
Speaker 3: to these four for you to decide if maybe you're.
Speaker 2: Gonna do it.
Speaker 3: One you have to ask yourself, like ideally, you know,
Speaker 3: I think it's three questions, really, but really, like I said,
Speaker 3: have you made money in this way before?
Speaker 2: Right? Have I made money in this way before? Or
Speaker 2: have I.
Speaker 3: Seen someone who is very beginning make money in this way?
Speaker 3: Because we want to know is it possible. We're not
Speaker 3: guessing out here now. This is not your life business
Speaker 3: plan and you're planned for. This is a make money
Speaker 3: now plan the next three months, right or four months
Speaker 3: or whatever? Have I made money like this before? Have
Speaker 3: I seen a beginner make money like this before?
Speaker 2: Yes? Moving along? Two? Can I do this by myself?
Speaker 3: Because one of my friends he was like, oh, if
Speaker 3: I only had a team, I'm like, what that's like
Speaker 3: saying if I only had a magic wand duh?
Speaker 2: If we all have humongous.
Speaker 3: Teens, if we only had a million dollars, if we
Speaker 3: only had no worries, if I only get eat cake,
Speaker 3: can I get fat? I mean, what are we saying?
Speaker 3: Of course, but you don't got none of them things?
Speaker 3: So step two is can I do it without a team?
Speaker 3: Can I do this by myself? Like I said, this
Speaker 3: is not a forever plan. This is just in the
Speaker 3: moment plan so I can get to my first major
Speaker 3: financial goal.
Speaker 2: You know, can I do this by myself? When I
Speaker 2: first the first six seven years, by Jesus, it was
Speaker 2: me myself and not that's all I got to.
Speaker 3: The end and don't know. Okay, can I do it
Speaker 3: by myself? That's question number two? If you can't do
Speaker 3: it by yourself, Like, if you're fortunate, then maybe you're
Speaker 3: you're significant others helping and maybe you got a sister helping.
Speaker 3: Great Q for you, but in large part for most
Speaker 3: of us, can I do this by myself?
Speaker 2: To start?
Speaker 3: Third question? Can I is this possible within a time frame?
Speaker 3: Because sometimes what I will find, especially with a new
Speaker 3: entrepreneurs so I'll have these huge ideas, but that's a
Speaker 3: five year plan. Bro were talking about five months from now, Max,
Speaker 3: Like don't give me no five year plan. You don't
Speaker 3: have no money coming in tomorrow, like you might not
Speaker 3: be here in five years to see that through. Can
Speaker 3: I do this within my time frame? I would not
Speaker 3: make a time frame more than five months, honestly, I'm
Speaker 3: looking like three months on the average that timeframe, you know, Like,
Speaker 3: can I do this within the timeframe?
Speaker 2: Is that possible? Yes?
Speaker 3: I can bake a cake and sell a cake within
Speaker 3: three months? Okay, there you go. And then fourth is
Speaker 3: do I not have to come out of pocket?
Speaker 2: Really? Or is it nomenal meaning?
Speaker 3: Like hmm, like what can I do to keep my
Speaker 3: cost as low as possible because I don't have any money?
Speaker 3: You know, like maybe baking a cake? You'm like, oh,
Speaker 3: I do have to spend a little bit money to start. Well,
Speaker 3: what's cheaper than the cake? Our cookies cheaper than cakes?
Speaker 3: I could sell that instead, you know what I mean?
Speaker 3: Or can I do pre orders of these cakes instead
Speaker 3: for people who already eating cakes from me? Can I
Speaker 3: do it without taking much money out of pocket? Or
Speaker 3: zero money out of pocket? You see how you have
Speaker 3: to be clever? So those are the fourth questions you're asking.
Speaker 3: Under number three, have I done this before made money
Speaker 3: because you want to. I don't want you guessing. So
Speaker 3: that is your preliminary I ain't never made no real money.
Speaker 3: I'm still super new in business. Or you've been in
Speaker 3: business for a while, but you're not really sure, like
Speaker 3: you know why you're not making no money. That is
Speaker 3: a preliminary income plan.
Speaker 2: Ain't that good job. I'm not gonna lie. I'm smart,
Speaker 2: you know, but for real, that's a preliminary plan.
Speaker 3: And when I told it to my two and I've
Speaker 3: got about three male menties everybody else's like women, and
Speaker 3: I told it to them, they were like, oh my gosh,
Speaker 3: I could do that. Right away, they started texting me like, Yo,
Speaker 3: here's all the fees that I have to pay, and
Speaker 3: so I know my number thirty eightundred dollars. I know
Speaker 3: my number twelve hundred dollars. Okay, in three months, I
Speaker 3: really have to have it done or this thing expires. Okay,
Speaker 3: but my stretch numbers, I would love to make forty
Speaker 3: five hundred dollars. Okay, here are the three ways that
Speaker 3: I've made money before. Then we started to look at
Speaker 3: those ways. Once those ways answer those four questions, boom,
Speaker 3: I've made money like this before I've seen someone do it. Boom,
Speaker 3: it don't take more money out of pocket or very little.
Speaker 2: Boom.
Speaker 3: I could do it within a timeframe. Boom, I could
Speaker 3: do it by myself and answer those questions. Then we
Speaker 3: started to like, I said, let's put some money, more
Speaker 3: money on the board. Once you start to you look
Speaker 3: at your list of number three, you start to eliminate
Speaker 3: those things. So don't say yes to those four questions.
Speaker 3: And then I started to say, Okay, you sold merch
Speaker 3: before you told me that the merch made you two
Speaker 3: hundred and fifty dollars. Can you put merch down for
Speaker 3: five hundred? I think if you did two fifty on
Speaker 3: some old la la la la, I think you do
Speaker 3: five hundred in three months, if you did two fifty
Speaker 3: in one month. He was like yes, So now we're
Speaker 3: starting to cross things off the board because you want
Speaker 3: to make three thousand dollars. Okay, you already down like
Speaker 3: we've already maybe we can put merch down for five
Speaker 3: hundred dollars. So now you're down to twenty five hundred
Speaker 3: dollars that needs to be made. What else I could do?
Speaker 3: Speaking okay, because before he was like, oh I don't
Speaker 3: know how many speaking engagements A how I should charge
Speaker 3: for speaking engagement. But now buruh I said, look, if
Speaker 3: it was me, I'm looking at the board, I'm looking
Speaker 3: at the people who want me to speak. You let
Speaker 3: them know I would love to make fifteen hundred, but
Speaker 3: in your mind you might take six or seven hundred, okay,
Speaker 3: And so you might even push to say, you know,
Speaker 3: do you have a budget of two thousand? If they
Speaker 3: push back to fifteen or at least a thousand, a thousand, damn,
Speaker 3: you already halfway done. Because he said, there's some speaking
Speaker 3: people who have asked him to speak, and he's always
Speaker 3: been like, oh no, I'm like, get your no less
Speaker 3: than five hundred, push for at least one thousand dollars,
Speaker 3: you know, but ask for maybe twenty twenty five hundred.
Speaker 2: See what they say.
Speaker 3: So he was already like, yo, okay, merch down for
Speaker 3: five hundred, speaking down for fifteen hundred.
Speaker 2: Boom, Now we're.
Speaker 3: At two thousand, other three thirty five hundred that you need, boy,
Speaker 3: you know, And so slowly but surely you see how
Speaker 3: you go from I don't know what that do to boom.
Speaker 2: Boom boom, boom boom boom boom boom. Let's go back.
Speaker 2: Oh that was first ices in that when I was
Speaker 2: a kid. I'm like, do you remember that?
Speaker 1: Saw?
Speaker 2: Boom boom boom. Let's go back to my room. Tell
Speaker 2: I was like in the second grade anyway.
Speaker 3: But you see how you go quickly from like here,
Speaker 3: it's an actuable income plan that I can do today?
Speaker 2: Is that really helpful?
Speaker 3: Because then you can start assigning amount that you believe
Speaker 3: you can make. That's why asking yourself the question, have
Speaker 3: I made money in this space before, because then you
Speaker 3: can say, if I was able to make two hundred,
Speaker 3: maybe I can make four. Or if my friend or
Speaker 3: someone who I saw do it, you know, I see
Speaker 3: that they if I can estimate they made about a thousand,
Speaker 3: maybe I could do two thousand. You see what I mean.
Speaker 3: So I hope that was helpful. You know, I love
Speaker 3: me some personal finance, but I also love some business.
Speaker 3: So here's the thing.
Speaker 2: Here's the thing.
Speaker 3: When you started out friends, if you want me to
Speaker 3: mentor you which you know you do know you no,
Speaker 3: you no, you know you do. I actually have a
Speaker 3: mentorship program called mymntor Tiffany dot com. Use this platform
Speaker 3: called Patreon and it's twenty bucks a month. It's like
Speaker 3: two sixteen for the year, because I think you get
Speaker 3: like ten percent off if you pay for the year,
Speaker 3: and the benefit if you pay for the annual is
Speaker 3: when I come to your city. So whenever I go
Speaker 3: to a city, I try my best to have a
Speaker 3: mentee dinner with about twenty to twenty five women as
Speaker 3: much as a restaurant will allow, which usually they cap
Speaker 3: it at twenty five, and then we have dinner together
Speaker 3: and we get to like introduce ourselves to each other,
Speaker 3: share our businesses. I mean, it's just an amazing time.
Speaker 3: Like in Maryland it was about twenty two of us.
Speaker 2: It was awesome. But if you pay annually, I.
Speaker 3: Set aside the first half of the tickets for annual
Speaker 3: members to because it always sells out. I set aside
Speaker 3: the first half of the tickets that they get to
Speaker 3: buy first, and then I leave it like I open
Speaker 3: up to the rest of the mentees. That's the benefit
Speaker 3: of being an annual member. You get ten percent off
Speaker 3: and you get access to things before everybody else because
Speaker 3: it always always sells out. So yeah, if you want
Speaker 3: to join, you on a twenty bucks a month, my
Speaker 3: mentor Tiffany dot com. I don't talk about personal finance there.
Speaker 3: Don't come there like I need. I have to live
Speaker 3: richer academy that if you want a personal finance like
Speaker 3: you know, courses. But my mentor Tiffany, is really me
Speaker 3: mentoring you in business. Okay, So hopefully that was helpful.
Speaker 3: I know that was kind of around or word, but
Speaker 3: I just know that was really helpful for them, and
Speaker 3: you know, hopefully that was helpful for you.
Speaker 2: And I will see you.
Speaker 3: At the next b a q A A b a
Speaker 3: q A wit to say the b a q A
Speaker 3: with Tiffany the b a q.
Speaker 2: A see your next Friday. All right, bye, y'all, Hey,
Speaker 2: ba fam.
Speaker 1: We could not do this show without your support or
Speaker 1: the support of our team behind the scenes. The brann
Speaker 1: Viision podcast is produced by Imani Crosby and Dennis and
Speaker 1: Plinsky is our in house tech guru. I am your
Speaker 1: co host Mandy Woodrif Santos, and we will see y'all
Speaker 1: next week, ba Fam.