1 00:00:00,160 --> 00:00:03,480 Speaker 1: Still living in manually taking notes. There is a better 2 00:00:03,480 --> 00:00:05,560 Speaker 1: way to start the new year with auto dot ai 3 00:00:05,720 --> 00:00:09,040 Speaker 1: automatically get meeting notes. Auto dot ai works for virtual 4 00:00:09,039 --> 00:00:11,719 Speaker 1: meetings like Zoom, Microsoft Teams, and Google Meet. Sign up 5 00:00:11,720 --> 00:00:13,360 Speaker 1: on the web for free or download in the app 6 00:00:13,360 --> 00:00:15,960 Speaker 1: stores auto dot ai. That's O T T e r 7 00:00:16,120 --> 00:00:20,680 Speaker 1: dot Ai. This podcast is sponsored by Better Help Online Therapy. 8 00:00:20,800 --> 00:00:24,680 Speaker 1: I'm Michlene Maloof and I'm Nadiadesi, licensed therapists and hosts 9 00:00:24,680 --> 00:00:27,200 Speaker 1: of Getting Better Stories of Mental Health. Join us for 10 00:00:27,200 --> 00:00:30,560 Speaker 1: discussions with Megan Trainer, Chris Bosh, Rebel Wilson, and more, 11 00:00:30,680 --> 00:00:34,360 Speaker 1: from discussing motherhood to immigrating to general mental health. Our 12 00:00:34,440 --> 00:00:37,680 Speaker 1: guests are awe inspiring. We all struggle with the same things, 13 00:00:37,840 --> 00:00:40,600 Speaker 1: so let's talk about it and de stigmatize them. Find 14 00:00:40,640 --> 00:00:43,839 Speaker 1: our new podcast, Getting Better Stories of Mental Health on 15 00:00:43,880 --> 00:00:49,960 Speaker 1: iHeart Apple Podcasts and Spotify. Sticky notes email alerts a 16 00:00:50,120 --> 00:00:53,640 Speaker 1: string around your finger. They're just not big enough. So 17 00:00:53,720 --> 00:00:56,280 Speaker 1: here's a big reminder from the California Lottery. Tomorrow's Mega 18 00:00:56,280 --> 00:01:00,120 Speaker 1: Millions jack potties over three million play now please. Players 19 00:01:00,360 --> 00:01:03,280 Speaker 1: must be eighteen years older to purchase player find Yes. 20 00:01:03,320 --> 00:01:06,280 Speaker 1: This is Rashan McDonald and welcome to Money Making Conversation. 21 00:01:06,400 --> 00:01:09,600 Speaker 1: I am your host each Money Making Conversation talk show 22 00:01:09,680 --> 00:01:12,960 Speaker 1: that it is about entrepreneurship and entertainment. I provide the 23 00:01:13,000 --> 00:01:17,560 Speaker 1: consumer and business owner access to interviews with celebrities, CEOs, entrepreneurs, 24 00:01:17,560 --> 00:01:20,880 Speaker 1: and industry decision makers. It's important to understand that everybody 25 00:01:20,920 --> 00:01:24,600 Speaker 1: travels a different path to success. That's because your brand 26 00:01:24,680 --> 00:01:27,120 Speaker 1: is different. The challenges you're facing your life are different. 27 00:01:27,280 --> 00:01:30,040 Speaker 1: So stop reading other people's success stories and start writing 28 00:01:30,080 --> 00:01:32,600 Speaker 1: your own. Now. You can be motivated by their success 29 00:01:32,680 --> 00:01:35,280 Speaker 1: because their stories can offer direction and help you reach 30 00:01:35,319 --> 00:01:38,120 Speaker 1: your goal through your plan and committed effort. The Money 31 00:01:38,120 --> 00:01:41,920 Speaker 1: Making Conversation interviews provide relatable information to the listener about 32 00:01:41,920 --> 00:01:47,280 Speaker 1: their career that you can have in financial planning, entrepreneurship, motivation, leadership, 33 00:01:47,600 --> 00:01:50,240 Speaker 1: overcoming the arts, and how to live a balance life. 34 00:01:50,680 --> 00:01:52,920 Speaker 1: It's really important and I appreciate everybody who listens to 35 00:01:53,000 --> 00:01:56,480 Speaker 1: Money Making Conversation. As the brand continues to grow, UH 36 00:01:56,520 --> 00:01:59,560 Speaker 1: not only in the United States, but worldwide Canada, Ireland 37 00:01:59,680 --> 00:02:02,680 Speaker 1: or straight Your New Zealand. Really starting to notice a 38 00:02:02,720 --> 00:02:04,240 Speaker 1: lot of people are starting to listen to the show 39 00:02:04,320 --> 00:02:07,800 Speaker 1: via podcast and via syndication in the United States. My 40 00:02:07,880 --> 00:02:12,000 Speaker 1: next guest is the CEO and owner of Bella Sloan Enterprises. 41 00:02:12,480 --> 00:02:15,680 Speaker 1: His company not only helps you repair your personal credit, 42 00:02:15,840 --> 00:02:19,320 Speaker 1: but also educates them on the topic. In addition, his 43 00:02:19,400 --> 00:02:22,639 Speaker 1: company helps small to medium sized companies with funding via 44 00:02:22,680 --> 00:02:25,919 Speaker 1: their credit that bear their VI business credit. His company 45 00:02:25,919 --> 00:02:28,000 Speaker 1: has been in operation for with thirteen years in the 46 00:02:28,000 --> 00:02:31,440 Speaker 1: Philadelphia area. He has turned his passion of helping others 47 00:02:31,639 --> 00:02:35,160 Speaker 1: into a thriving business. Please welcome to Money Making Conversation. 48 00:02:35,560 --> 00:02:39,720 Speaker 1: Herman Doshi, Good morning, Good morning, Thank you for having 49 00:02:39,720 --> 00:02:42,359 Speaker 1: me today. I appreciate you, my friend. Life is good 50 00:02:42,400 --> 00:02:45,640 Speaker 1: for you. And I'm I'm assuming you're in the Philadelphia 51 00:02:45,639 --> 00:02:48,400 Speaker 1: area right now. Yes, I am. We all hunkered down 52 00:02:48,520 --> 00:02:51,160 Speaker 1: right now, have good Well, I'm hunkered down in Atlanta. 53 00:02:51,639 --> 00:02:53,880 Speaker 1: I would love that I got I'm a Texas boy, 54 00:02:53,919 --> 00:02:56,360 Speaker 1: so born to raise in Houston, so I want to 55 00:02:56,360 --> 00:02:58,000 Speaker 1: get back to Texas. But you know, right now I 56 00:02:58,040 --> 00:03:00,880 Speaker 1: got all the family Atlanta dealing with this pandemic and 57 00:03:00,919 --> 00:03:03,160 Speaker 1: not allowing it to win. I want to reach something 58 00:03:03,160 --> 00:03:05,280 Speaker 1: that I took from your website about your mission statement 59 00:03:05,280 --> 00:03:07,840 Speaker 1: before we start the interview. It's a good really positive statement. 60 00:03:08,360 --> 00:03:11,799 Speaker 1: Our mission is to help our clients reach financial literacy 61 00:03:12,280 --> 00:03:16,359 Speaker 1: through through credit education and repair. In addition, we teach 62 00:03:16,760 --> 00:03:20,160 Speaker 1: and help entrepreneurs to obtain the capital and credit they 63 00:03:20,200 --> 00:03:23,720 Speaker 1: need to fuel their dreams. Whether you are just starting 64 00:03:23,760 --> 00:03:27,720 Speaker 1: your business or looking for millions in capital to expand, 65 00:03:28,040 --> 00:03:30,720 Speaker 1: we have solutions that can help you fund your endeavor. 66 00:03:30,760 --> 00:03:35,040 Speaker 1: That's your mission statement. Correct? What does that mean in 67 00:03:35,040 --> 00:03:37,120 Speaker 1: the sense as far as because you went from so 68 00:03:37,400 --> 00:03:39,400 Speaker 1: like you can go from the small businessman to the 69 00:03:39,480 --> 00:03:42,680 Speaker 1: multimillion dollar business is trying to move forward in a 70 00:03:42,720 --> 00:03:46,480 Speaker 1: stronger direction? How do you balance that? That? That that extreme? 71 00:03:48,400 --> 00:03:50,960 Speaker 1: So when when what what I like to do is 72 00:03:51,080 --> 00:03:55,080 Speaker 1: when I'm doing promotions or advertising social media, or when 73 00:03:55,120 --> 00:03:57,480 Speaker 1: I'm speaking in front of a group of people, I 74 00:03:57,640 --> 00:04:01,080 Speaker 1: like to present the end gold potential clients. So the 75 00:04:01,120 --> 00:04:03,800 Speaker 1: goal is to be successful in your business, whether it's 76 00:04:03,840 --> 00:04:06,280 Speaker 1: monetary or the amount of people that you're helping. Right, 77 00:04:06,800 --> 00:04:10,040 Speaker 1: And we're showing the you know, real estates or people 78 00:04:10,080 --> 00:04:13,240 Speaker 1: that are in trucking the open restaurants, right, So we're showing, 79 00:04:13,280 --> 00:04:16,560 Speaker 1: we're showing that future goal. Why I do that is 80 00:04:16,600 --> 00:04:18,760 Speaker 1: because in order to get to that goal where I'm 81 00:04:18,839 --> 00:04:22,120 Speaker 1: where I'm helping the small and medium businesses. We have 82 00:04:22,240 --> 00:04:24,880 Speaker 1: to backtrack to how they got there, and how they 83 00:04:25,000 --> 00:04:28,719 Speaker 1: got there was through financial literacy, which started with having 84 00:04:28,920 --> 00:04:33,360 Speaker 1: a budget, saving your money, investing it wisely, and also 85 00:04:33,480 --> 00:04:36,480 Speaker 1: primarily repairing your credit. Because that's how a lot of 86 00:04:36,520 --> 00:04:40,120 Speaker 1: my beginning entrepreneurs started to get the capital to fund 87 00:04:40,160 --> 00:04:42,120 Speaker 1: their dreams. It all started there. So that's why I 88 00:04:42,160 --> 00:04:44,840 Speaker 1: really push it for our community and all communities to 89 00:04:45,000 --> 00:04:48,560 Speaker 1: be really, really literate and how the credit system works. 90 00:04:49,480 --> 00:04:51,440 Speaker 1: You know, it's the really interesting to me when you're 91 00:04:51,440 --> 00:04:53,720 Speaker 1: talking about are we talking about business credit or just 92 00:04:53,839 --> 00:04:57,920 Speaker 1: a personal credit? All you're just talking about yes, yes, 93 00:04:58,040 --> 00:05:00,359 Speaker 1: because we all started we all start out with personal credit. 94 00:05:00,360 --> 00:05:02,279 Speaker 1: We're all, we all start out there. You know. It's 95 00:05:02,360 --> 00:05:05,279 Speaker 1: it's always a joke, you know how you know people 96 00:05:05,520 --> 00:05:08,359 Speaker 1: use their kids to co sign for loans. It's running 97 00:05:08,440 --> 00:05:11,279 Speaker 1: joke within the you know in the urban communities. And 98 00:05:11,480 --> 00:05:13,240 Speaker 1: if you might own a you might own a car, 99 00:05:13,320 --> 00:05:15,039 Speaker 1: didn't even know it, you know, because your mom wanna 100 00:05:15,040 --> 00:05:16,640 Speaker 1: get dad put your name in it and messed up 101 00:05:16,680 --> 00:05:20,280 Speaker 1: your credit. So how does one For some reason, I 102 00:05:20,320 --> 00:05:22,000 Speaker 1: would tell you this, Herman, for some reason, when I 103 00:05:22,040 --> 00:05:24,120 Speaker 1: was eighteen, I knew I had to have good credit 104 00:05:24,160 --> 00:05:26,840 Speaker 1: for some reason. I was very protective of my credit 105 00:05:26,839 --> 00:05:29,760 Speaker 1: when and I got my first serious card. And you know, 106 00:05:29,760 --> 00:05:33,000 Speaker 1: I'm gonna call out some old credit cards to Montgomery Ward. 107 00:05:33,200 --> 00:05:36,159 Speaker 1: You know, man, I was happy, man J. C. Penny. 108 00:05:36,440 --> 00:05:38,360 Speaker 1: And when I got there a serious card back there 109 00:05:38,400 --> 00:05:40,839 Speaker 1: was We got a serious card back. There was just 110 00:05:40,839 --> 00:05:43,360 Speaker 1: like getting a green American Express card. That was like 111 00:05:43,640 --> 00:05:46,000 Speaker 1: that was like the bomb to get a serious card. 112 00:05:46,320 --> 00:05:49,479 Speaker 1: So how do how does one look at it today? 113 00:05:49,680 --> 00:05:51,760 Speaker 1: How does one protect their credit? First of all, and 114 00:05:51,800 --> 00:05:53,560 Speaker 1: how does one I'm gonna ask you two questions. How 115 00:05:53,560 --> 00:05:55,480 Speaker 1: do you want to protect their credit? Personal credit? We're 116 00:05:55,480 --> 00:05:57,440 Speaker 1: gonna talk about that first, and then how does one 117 00:05:57,560 --> 00:06:02,799 Speaker 1: build their personal credit? So let's start with building it first, 118 00:06:02,880 --> 00:06:06,400 Speaker 1: and then we'll talk about protection of it. So building um, 119 00:06:06,440 --> 00:06:09,839 Speaker 1: the credit first again starts with you understanding it and 120 00:06:10,279 --> 00:06:13,640 Speaker 1: being educated on it. So the older your credit is, 121 00:06:13,720 --> 00:06:15,919 Speaker 1: the better it is, and being educated on it. So 122 00:06:15,960 --> 00:06:18,000 Speaker 1: I got my first credit card when I was seventeen 123 00:06:18,080 --> 00:06:20,520 Speaker 1: years old. I'm thirty nine right now, so my credit 124 00:06:20,640 --> 00:06:23,880 Speaker 1: is really really old. So start early. Educate your children 125 00:06:23,920 --> 00:06:26,600 Speaker 1: and your youth on credit and how it's definitely gonna 126 00:06:26,640 --> 00:06:29,600 Speaker 1: help them UM later on in life because UM, as 127 00:06:29,680 --> 00:06:32,480 Speaker 1: your credit ages, you're gonna get credit limit increases. So, 128 00:06:32,560 --> 00:06:34,960 Speaker 1: like one of my oldest credit cards is like fifteen 129 00:06:35,000 --> 00:06:37,480 Speaker 1: sixteen years old. It's an m X and it has 130 00:06:37,480 --> 00:06:40,200 Speaker 1: like a twenty five dollar limit. Now that type of 131 00:06:40,240 --> 00:06:42,680 Speaker 1: credit card on my credit report makes me look really 132 00:06:42,720 --> 00:06:47,039 Speaker 1: really strong as opposed to someone who's thirty five and 133 00:06:47,080 --> 00:06:50,080 Speaker 1: they just started working on their credit and they have 134 00:06:50,200 --> 00:06:52,719 Speaker 1: like a secure card with a limit of five hundred dollars. 135 00:06:52,760 --> 00:06:55,000 Speaker 1: We both could have a seven hundred credit score. But 136 00:06:55,120 --> 00:06:58,080 Speaker 1: my profile looks better because it's thicker and it's an 137 00:06:58,080 --> 00:07:00,120 Speaker 1: older card. And that's not the only one I have 138 00:07:00,200 --> 00:07:01,919 Speaker 1: on there. I have a car note, you know, I 139 00:07:01,960 --> 00:07:05,159 Speaker 1: have a mortgage. I have demonstrated to the banks that 140 00:07:05,279 --> 00:07:08,200 Speaker 1: I have been responsible with money over X amount of time. 141 00:07:08,440 --> 00:07:10,560 Speaker 1: So that's why I teach people to start building your 142 00:07:10,600 --> 00:07:16,080 Speaker 1: credit young. The older it is more stronger it gets. Now, UM, 143 00:07:16,120 --> 00:07:22,360 Speaker 1: protecting your credit is a daily, monthly UM responsibility. I 144 00:07:22,440 --> 00:07:27,160 Speaker 1: tell people all the time, how UM like me. All 145 00:07:27,200 --> 00:07:31,920 Speaker 1: my credit cards are on auto pay right because life happens, 146 00:07:32,200 --> 00:07:37,920 Speaker 1: you will forget. I agree with you, you know, because 147 00:07:37,920 --> 00:07:40,160 Speaker 1: I've been I've resisted to that auto pay, you know, 148 00:07:40,160 --> 00:07:42,880 Speaker 1: because I hate people taking money without me controlling that. 149 00:07:43,000 --> 00:07:48,040 Speaker 1: That's the words. It's wor. But I don't care how 150 00:07:48,080 --> 00:07:50,000 Speaker 1: small it is, it's still bothers me. I was like, no, 151 00:07:50,120 --> 00:07:52,600 Speaker 1: I want to log in and do it myself. But 152 00:07:52,640 --> 00:07:55,800 Speaker 1: what I what I will say though, is um, from 153 00:07:55,800 --> 00:07:58,360 Speaker 1: my this is a great tip for my new um, 154 00:07:58,800 --> 00:08:01,040 Speaker 1: my new people who are new to building credit and 155 00:08:01,080 --> 00:08:06,600 Speaker 1: they had that habit that got them into um, negative credit. 156 00:08:06,800 --> 00:08:10,000 Speaker 1: So I want to start new positive habits. And then 157 00:08:10,080 --> 00:08:11,960 Speaker 1: when you're responsible enough, Hey, you know I can log 158 00:08:12,000 --> 00:08:13,800 Speaker 1: in every day to do that, but I give that 159 00:08:13,840 --> 00:08:16,840 Speaker 1: tip to you, don't do it yourself, um right now, 160 00:08:17,160 --> 00:08:20,400 Speaker 1: So I mean put it on auto pay. So with 161 00:08:20,520 --> 00:08:25,440 Speaker 1: the auto pay, though, just put in the minimum that's required. 162 00:08:26,000 --> 00:08:28,120 Speaker 1: So say, for instance, you know it still is a 163 00:08:28,200 --> 00:08:31,920 Speaker 1: thousand dollars, right, just the minimum payment of fifteen dollars 164 00:08:31,920 --> 00:08:34,560 Speaker 1: a month. Have them take it out, right. You don't 165 00:08:34,559 --> 00:08:36,280 Speaker 1: need to pay it all off. Just if you just 166 00:08:36,360 --> 00:08:40,319 Speaker 1: pay the minimum. You've never been late, and as you 167 00:08:40,400 --> 00:08:42,360 Speaker 1: pay down the debt and you throw chunks at a 168 00:08:42,559 --> 00:08:44,520 Speaker 1: I'm just gonna put it ext your two D stimulus 169 00:08:44,600 --> 00:08:46,560 Speaker 1: check came in. Let me put this extra thousand. That's great, 170 00:08:46,800 --> 00:08:49,079 Speaker 1: and your credit score goes up. The less debt urine. 171 00:08:49,400 --> 00:08:51,319 Speaker 1: But as long as you paid it on time every 172 00:08:51,360 --> 00:08:54,240 Speaker 1: single month, that's something that's the that's the most important 173 00:08:54,240 --> 00:08:56,320 Speaker 1: thing on your credit is not being late. We'll gonna 174 00:08:56,320 --> 00:08:59,000 Speaker 1: tell you some man learn something right there at the minimum. 175 00:08:59,000 --> 00:09:01,280 Speaker 1: Because I'm a resistant guy. You know right now, I'm 176 00:09:01,320 --> 00:09:03,880 Speaker 1: fortunate and my credit score I checked before I got 177 00:09:03,880 --> 00:09:06,480 Speaker 1: on the interview, which was eight hundred and thirty. That's 178 00:09:06,520 --> 00:09:08,800 Speaker 1: my credit score, the most the highest you can get, 179 00:09:08,880 --> 00:09:12,560 Speaker 1: eight hundred and fifty and so and so. But I 180 00:09:12,600 --> 00:09:16,560 Speaker 1: also know that Rushan has missed like this year, I 181 00:09:16,640 --> 00:09:20,000 Speaker 1: missed a couple of payments because I've been resistant to 182 00:09:21,040 --> 00:09:23,600 Speaker 1: my my because I have my Chase card and then 183 00:09:23,640 --> 00:09:26,400 Speaker 1: I have my City Bank card, which you know I 184 00:09:26,440 --> 00:09:29,280 Speaker 1: can pay the minimum, like you said, okay and so, 185 00:09:29,559 --> 00:09:31,920 Speaker 1: and I missed him a couple of times where if 186 00:09:31,960 --> 00:09:35,000 Speaker 1: I just did taking your advice and just reshing just 187 00:09:35,080 --> 00:09:38,120 Speaker 1: me the minimum, just put the minimum auto, I wouldn't 188 00:09:38,120 --> 00:09:40,520 Speaker 1: even have missed. I don't know you can do that. 189 00:09:40,600 --> 00:09:42,920 Speaker 1: I always felt that when you talk, when you put 190 00:09:42,920 --> 00:09:45,200 Speaker 1: it on auto, you gotta pay the maximum of that month. 191 00:09:45,280 --> 00:09:48,439 Speaker 1: And that's what I've been doing. Resistant Okay, cool, got you? No, No, 192 00:09:48,480 --> 00:09:50,880 Speaker 1: not just a minimum. That's all you need to pay. 193 00:09:50,920 --> 00:09:53,000 Speaker 1: So whether the that is still there or not, thirty 194 00:09:53,640 --> 00:09:55,920 Speaker 1: or credit scored, the most important factors just paying it 195 00:09:55,960 --> 00:09:58,280 Speaker 1: on time, so you know when you crossed the bench 196 00:09:58,360 --> 00:10:00,280 Speaker 1: and you have that chunk to pay down and paid down. 197 00:10:00,280 --> 00:10:03,560 Speaker 1: But just don't be late. That's the beauty of talking 198 00:10:03,559 --> 00:10:06,640 Speaker 1: to an expert. That's what the harm adult. You're an expert. 199 00:10:06,880 --> 00:10:09,559 Speaker 1: Let's listen. I started to ask you some general questions, 200 00:10:09,559 --> 00:10:11,360 Speaker 1: and we know that you've been and you've been in 201 00:10:11,440 --> 00:10:14,520 Speaker 1: this business for thirteen years. You know that the name 202 00:10:14,520 --> 00:10:18,439 Speaker 1: of your company is uh, Bellastone Enterprises. First of all, 203 00:10:18,520 --> 00:10:21,000 Speaker 1: tell us tell us about that name, and then tell 204 00:10:21,040 --> 00:10:25,720 Speaker 1: us about your business. So Bellastone Enterprises is um. You know, 205 00:10:25,720 --> 00:10:28,600 Speaker 1: there's a difference between having a hobby and running a 206 00:10:28,640 --> 00:10:31,680 Speaker 1: real business. So you know I've been dippling dality and 207 00:10:31,720 --> 00:10:34,480 Speaker 1: credit credit for quite some time. Right, I had to 208 00:10:34,520 --> 00:10:37,360 Speaker 1: put a pen in that story. So Bellas is the 209 00:10:37,440 --> 00:10:40,960 Speaker 1: name of my daughter, my first one, and um, when 210 00:10:41,000 --> 00:10:44,680 Speaker 1: I was on my baby moon with my wife, we 211 00:10:44,720 --> 00:10:47,600 Speaker 1: went to Italy, Right, I was still working at the time, 212 00:10:47,679 --> 00:10:50,439 Speaker 1: had a full time job. Wonderful, amazing trip. We've gone 213 00:10:50,520 --> 00:10:54,240 Speaker 1: for fourteen days, traveled all over Italy and we were 214 00:10:54,240 --> 00:10:58,719 Speaker 1: on a train to pizza right and I realized. I 215 00:10:58,760 --> 00:11:00,560 Speaker 1: was like, wow, I wish I can do this whenever 216 00:11:00,600 --> 00:11:03,520 Speaker 1: I want, right, But what happened was I had to 217 00:11:03,559 --> 00:11:06,600 Speaker 1: ask somebody permission to be gone for fourteen days, and 218 00:11:06,640 --> 00:11:09,480 Speaker 1: it bothered me the entire trip. Got home, I spoke 219 00:11:09,520 --> 00:11:12,000 Speaker 1: to my brother, he's also an entrepreneur, has his own business, 220 00:11:12,040 --> 00:11:15,800 Speaker 1: nine business consultation, and he was like, listen, the only 221 00:11:15,800 --> 00:11:17,760 Speaker 1: way you'll be freeze if you own your own or 222 00:11:17,760 --> 00:11:20,200 Speaker 1: else you'll always have to ask somebody permission. And I 223 00:11:20,240 --> 00:11:22,360 Speaker 1: was like, well, what business am I gonna start. He's like, listen, 224 00:11:22,600 --> 00:11:25,640 Speaker 1: you've been doing credit prepair for everybody for free because 225 00:11:25,760 --> 00:11:28,040 Speaker 1: it was just something important. It really I was doing 226 00:11:28,040 --> 00:11:29,520 Speaker 1: it for free. It was a skill that I learned 227 00:11:29,520 --> 00:11:33,480 Speaker 1: a while ago when my father's UM information got on 228 00:11:33,600 --> 00:11:36,160 Speaker 1: my credit report and I had to write the letters 229 00:11:36,200 --> 00:11:38,720 Speaker 1: to fight it, and he was like, you should charge 230 00:11:39,080 --> 00:11:41,480 Speaker 1: people to do it. I was like, like, this is important. 231 00:11:41,480 --> 00:11:44,760 Speaker 1: He's like, no, they're going to pay somebody. They might 232 00:11:44,800 --> 00:11:46,960 Speaker 1: as well pay you thank you. So I was like, 233 00:11:47,160 --> 00:11:49,160 Speaker 1: I was like, you know what, You're absolutely right. So 234 00:11:49,200 --> 00:11:51,280 Speaker 1: I got a couple of friends I did their credit 235 00:11:51,280 --> 00:11:54,760 Speaker 1: reports for free, and then I started posting their results 236 00:11:55,040 --> 00:11:59,320 Speaker 1: on social media and then the business started growing and 237 00:11:59,360 --> 00:12:02,240 Speaker 1: booming from there. And what else helping my business grow 238 00:12:02,320 --> 00:12:07,160 Speaker 1: is that giving in people valuable information for free. It's 239 00:12:07,200 --> 00:12:11,000 Speaker 1: super important because if you're giving me such valuable information 240 00:12:11,040 --> 00:12:13,920 Speaker 1: for free, imagine if I pay you. So that's how 241 00:12:13,960 --> 00:12:17,160 Speaker 1: I started building my business. You know, it's really interesting 242 00:12:17,200 --> 00:12:22,040 Speaker 1: because we do that. We're afraid to charge people for services. 243 00:12:22,160 --> 00:12:25,439 Speaker 1: Sometimes we're afraid to put a dollar amount because you're 244 00:12:25,440 --> 00:12:27,440 Speaker 1: afraid to lose the relationship. Or if they say no, 245 00:12:27,600 --> 00:12:29,600 Speaker 1: what if they start talking to you? But guess what 246 00:12:30,120 --> 00:12:31,839 Speaker 1: if the only reason they're talking to you because you're 247 00:12:31,840 --> 00:12:34,200 Speaker 1: providing the pre service, you might want to stop talking 248 00:12:34,240 --> 00:12:38,320 Speaker 1: to them because they're using you. I'm really enjoying the conversation. 249 00:12:38,360 --> 00:12:41,640 Speaker 1: I'm talking to the CEO and on a Bella Slan Enterprises. 250 00:12:41,960 --> 00:12:44,520 Speaker 1: His company not only helps you repair your personal credit, 251 00:12:44,640 --> 00:12:47,680 Speaker 1: but also educates you on the topic. His name is Herman. 252 00:12:47,880 --> 00:12:49,800 Speaker 1: Don't you We'll be right back in our next break. 253 00:12:49,880 --> 00:12:51,480 Speaker 1: We're gonna have a lot of more questions. You know 254 00:12:51,480 --> 00:12:53,560 Speaker 1: when right now in the middle of it, COVID ninteen. 255 00:12:54,000 --> 00:12:56,720 Speaker 1: You know everynledge is p P P. Is the government 256 00:12:56,760 --> 00:12:58,640 Speaker 1: really gonna help us this time around, because I know 257 00:12:58,679 --> 00:13:01,439 Speaker 1: I missed out on that loan las time, so I'm 258 00:13:01,440 --> 00:13:03,840 Speaker 1: not happy and I'm not I'm not comfortable I'm gonna 259 00:13:03,840 --> 00:13:06,120 Speaker 1: get something this time, Arani either be right back for 260 00:13:06,240 --> 00:13:12,160 Speaker 1: more money making conversations. 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With auto dot ai, you can search the 288 00:14:45,200 --> 00:14:48,400 Speaker 1: meeting notes, insert images, playback the audio, and share them 289 00:14:48,400 --> 00:14:51,240 Speaker 1: with your friends or coworkers. You can capture action items, 290 00:14:51,280 --> 00:14:55,040 Speaker 1: remember meeting details, and keep everyone informed. Auto dot ai 291 00:14:55,120 --> 00:14:58,560 Speaker 1: works for in person or virtual meetings like Zoom, Microsoft Teams, 292 00:14:58,560 --> 00:15:01,040 Speaker 1: and Google meet. Sign up for Afraid at auto dot 293 00:15:01,080 --> 00:15:03,880 Speaker 1: ai or download the app for free auto dot ai. 294 00:15:04,040 --> 00:15:08,040 Speaker 1: That's O T T E R dot Ai. Hi. This 295 00:15:08,120 --> 00:15:11,040 Speaker 1: Rashan McDonald and you're listening to money making conversation. Always 296 00:15:11,040 --> 00:15:12,720 Speaker 1: having a good time on this show, always talking to 297 00:15:12,720 --> 00:15:15,160 Speaker 1: individuals who come on the show to make a difference 298 00:15:15,160 --> 00:15:17,760 Speaker 1: in your life. They have passion. They turn that passion 299 00:15:17,760 --> 00:15:20,600 Speaker 1: into money. They turn that money into a career. They 300 00:15:20,600 --> 00:15:23,600 Speaker 1: turned their career into life, a future that they can 301 00:15:23,640 --> 00:15:25,800 Speaker 1: control their own destination. I know there are a lot 302 00:15:25,840 --> 00:15:28,280 Speaker 1: of people out there who are working for people. This 303 00:15:28,360 --> 00:15:30,800 Speaker 1: is not a slam on you, but this is an 304 00:15:30,800 --> 00:15:33,000 Speaker 1: opportunity to show you even if you're working a ford 305 00:15:33,120 --> 00:15:35,720 Speaker 1: our week job, you can be successful in that four 306 00:15:35,760 --> 00:15:37,920 Speaker 1: day our week job if you have the right techniques, 307 00:15:37,960 --> 00:15:40,760 Speaker 1: the right understanding. But right now I'm talking to all 308 00:15:41,160 --> 00:15:44,080 Speaker 1: entrepreneur who went for fourteen days on the trip and 309 00:15:44,120 --> 00:15:48,520 Speaker 1: he was mad for fourteen days. You had to ask 310 00:15:48,600 --> 00:15:51,720 Speaker 1: for permission to be gold for fourteen days. You know, 311 00:15:51,960 --> 00:15:54,720 Speaker 1: it's really great that something has to trigger that level 312 00:15:54,800 --> 00:15:57,240 Speaker 1: of inspiration. You know something has to going off in 313 00:15:57,240 --> 00:15:59,680 Speaker 1: your mind. Go you know something, man, I can do better. 314 00:15:59,720 --> 00:16:02,520 Speaker 1: I can be better I can. I can. Uh, I'm 315 00:16:02,520 --> 00:16:05,000 Speaker 1: not an a forty hour week guy. But it's also 316 00:16:05,080 --> 00:16:09,640 Speaker 1: a fear that's tied to that, isn't it. Talk about 317 00:16:09,680 --> 00:16:13,920 Speaker 1: that very very much so because you know there there 318 00:16:14,000 --> 00:16:17,640 Speaker 1: is a safety net and if I do this, somebody's 319 00:16:17,640 --> 00:16:20,680 Speaker 1: gonna give me this right that that that work week. 320 00:16:20,760 --> 00:16:23,480 Speaker 1: And you know, I'm not saying anybody's brain washed or 321 00:16:23,680 --> 00:16:25,440 Speaker 1: you know what makes you happy, it's good for you, 322 00:16:25,560 --> 00:16:30,120 Speaker 1: right then do that. Um. But what I realized was, UM, 323 00:16:30,120 --> 00:16:33,440 Speaker 1: when I started processing that trip and the permission of 324 00:16:33,480 --> 00:16:36,840 Speaker 1: it all was that I was kept. They decided what 325 00:16:36,960 --> 00:16:40,040 Speaker 1: my value was worth. I couldn't make more money if 326 00:16:40,080 --> 00:16:43,200 Speaker 1: I wanted to write. But you know, there are people 327 00:16:43,200 --> 00:16:45,240 Speaker 1: out there that are actually doing it. Don't let me 328 00:16:45,320 --> 00:16:47,560 Speaker 1: see that, because once I saw it and I was like, wait, 329 00:16:47,640 --> 00:16:49,440 Speaker 1: this guy makes what I make in a month, or 330 00:16:49,480 --> 00:16:51,720 Speaker 1: he makes when I'm living a week, So it can 331 00:16:51,800 --> 00:16:54,360 Speaker 1: be done. So now that I know it can be done, 332 00:16:54,400 --> 00:16:56,560 Speaker 1: I'm going to figure out how it can be done. 333 00:16:56,840 --> 00:17:00,640 Speaker 1: So I could, you know, leave a legacy um for children, 334 00:17:00,640 --> 00:17:03,640 Speaker 1: so you know, um, everybody picks this credit. But learning 335 00:17:03,640 --> 00:17:06,320 Speaker 1: how to build a brand, learning how to be give 336 00:17:06,400 --> 00:17:09,240 Speaker 1: good customer service, learning how to be the best credit 337 00:17:09,240 --> 00:17:11,480 Speaker 1: repair person I can be in show businesses. How to 338 00:17:11,480 --> 00:17:15,720 Speaker 1: get funding is what elevated UM my business after that? Cool? 339 00:17:15,880 --> 00:17:18,000 Speaker 1: Now that's key right now. Okay, we talked about the 340 00:17:18,040 --> 00:17:21,160 Speaker 1: personal credit. Okay, we all that's relatable to anybody because 341 00:17:21,200 --> 00:17:23,160 Speaker 1: you have to go personally before you go to business. 342 00:17:23,400 --> 00:17:25,600 Speaker 1: Now let's shift over to to the business side, because 343 00:17:25,920 --> 00:17:27,639 Speaker 1: you know that was a part that confused me, you know, 344 00:17:28,000 --> 00:17:30,560 Speaker 1: having to get it done in Bradstreet number, gott to 345 00:17:30,680 --> 00:17:33,479 Speaker 1: establish all these difference, a lot of different techniques that 346 00:17:33,520 --> 00:17:35,560 Speaker 1: you have to do, and you have to get people 347 00:17:35,600 --> 00:17:38,040 Speaker 1: to you know, uh reference you, and they have to 348 00:17:38,040 --> 00:17:41,320 Speaker 1: be tied to a certain amount of dons and active 349 00:17:41,400 --> 00:17:45,640 Speaker 1: dons and Bradstreet number. So let's talk about that whole business. 350 00:17:45,680 --> 00:17:48,320 Speaker 1: Credit and building out your business so you can bid 351 00:17:48,320 --> 00:17:52,120 Speaker 1: on government opportunities or r FPS and all that stuff, 352 00:17:52,160 --> 00:17:54,840 Speaker 1: because it really is a lot of things that are 353 00:17:54,880 --> 00:17:57,159 Speaker 1: happening out there. Whether you're established in a bakery or 354 00:17:57,280 --> 00:18:01,800 Speaker 1: established in then I T firm or lels on that's corporation. 355 00:18:02,119 --> 00:18:04,520 Speaker 1: It really goes. Do you work with somebody s c 356 00:18:04,680 --> 00:18:07,360 Speaker 1: P a firm of We're just talking about credit only here, 357 00:18:09,119 --> 00:18:12,320 Speaker 1: so yes, um, UM, let me talk to you first 358 00:18:12,359 --> 00:18:14,840 Speaker 1: about the business credit aspect of it, and then I 359 00:18:15,160 --> 00:18:17,679 Speaker 1: want to go more so into the team aspect. So 360 00:18:17,840 --> 00:18:21,280 Speaker 1: business credit is credit in your business is name, not 361 00:18:21,400 --> 00:18:23,480 Speaker 1: in your personal name. So that's one of the benefits 362 00:18:23,480 --> 00:18:25,000 Speaker 1: for it. So you know how when you max out 363 00:18:25,000 --> 00:18:27,240 Speaker 1: a credit card, it drops off, it drops your credit score. 364 00:18:27,560 --> 00:18:30,160 Speaker 1: Because you have a business credit card and your business 365 00:18:30,160 --> 00:18:32,600 Speaker 1: owns that credit card, that debt doesn't show up on 366 00:18:32,640 --> 00:18:34,720 Speaker 1: your credit report. So you can max it out for 367 00:18:34,800 --> 00:18:38,400 Speaker 1: real estate deals or trucking or advertising, whatever you need 368 00:18:38,440 --> 00:18:40,520 Speaker 1: to do to invest in your company to get a return, 369 00:18:40,960 --> 00:18:43,600 Speaker 1: and it won't hurt you personally. That's the benefit with it. 370 00:18:43,680 --> 00:18:46,400 Speaker 1: That's why I always preach it to my people, UM, 371 00:18:46,440 --> 00:18:48,800 Speaker 1: and to all communities. Why you know, get your LLC, 372 00:18:48,960 --> 00:18:51,600 Speaker 1: get that documentation, get your done in brasstreet number, and 373 00:18:51,600 --> 00:18:54,919 Speaker 1: go get yourself some business credit cards. UM. Now, what 374 00:18:55,040 --> 00:18:56,720 Speaker 1: was the other thing after that we were discussing. I 375 00:18:56,720 --> 00:18:59,240 Speaker 1: wanted to well, it was it was? It was about 376 00:18:59,240 --> 00:19:01,040 Speaker 1: It was It was about first of all, you answer 377 00:19:01,080 --> 00:19:03,479 Speaker 1: the questions about the business, but also growing the business 378 00:19:03,480 --> 00:19:07,359 Speaker 1: outside of the whole process of establishing yourself and getting 379 00:19:07,359 --> 00:19:11,320 Speaker 1: the loans and getting the money, and how does that Okay? 380 00:19:11,560 --> 00:19:15,480 Speaker 1: So after you get your initial business credit, like, I'll 381 00:19:15,480 --> 00:19:17,880 Speaker 1: tell you how I did mine. I think I got 382 00:19:17,920 --> 00:19:20,439 Speaker 1: like a one of my first business credit cards was 383 00:19:20,480 --> 00:19:23,760 Speaker 1: like twenty two thousand dollars, right, because the limits and 384 00:19:23,840 --> 00:19:26,800 Speaker 1: business credit are much much higher than personal credit. That's 385 00:19:26,840 --> 00:19:29,440 Speaker 1: another reason to get it right. Um, it was zero 386 00:19:29,520 --> 00:19:32,600 Speaker 1: percent interest for this card, and American Express gave me 387 00:19:32,720 --> 00:19:36,280 Speaker 1: twenty months zero percent interest. So when I maxed out 388 00:19:36,280 --> 00:19:38,800 Speaker 1: the card for a real estate deal, it cost me 389 00:19:38,840 --> 00:19:42,360 Speaker 1: one and eighty nine dollars a month zero percent interests. Right, 390 00:19:42,760 --> 00:19:47,200 Speaker 1: So I was able to complete six real estate transactions 391 00:19:47,240 --> 00:19:49,760 Speaker 1: in twenty months with that money. So I flipped that 392 00:19:49,800 --> 00:19:56,200 Speaker 1: twenty thousand dollars six times before the interest rate hit credit. Yeah, 393 00:19:56,280 --> 00:19:58,560 Speaker 1: before it kicked in, but I already made my money. 394 00:19:58,760 --> 00:20:00,320 Speaker 1: I paid them back their money, and that's what I 395 00:20:00,320 --> 00:20:02,280 Speaker 1: did next. When the zero percent ran out, I went 396 00:20:02,400 --> 00:20:07,120 Speaker 1: out another business credit card bank and Key Bank gave 397 00:20:07,160 --> 00:20:10,560 Speaker 1: me forties thousand dollars in business credit, zero percent interest. 398 00:20:10,600 --> 00:20:12,639 Speaker 1: And I'm still working on that money right now, flipping 399 00:20:12,640 --> 00:20:14,760 Speaker 1: in a whole bunch of times before that interest kicks in. 400 00:20:15,080 --> 00:20:17,000 Speaker 1: So that's why I'm trying to you know, because I 401 00:20:17,400 --> 00:20:20,320 Speaker 1: got my good credit right personally, I leveraged that to 402 00:20:20,440 --> 00:20:23,640 Speaker 1: get business credit and now I'm using credit to make 403 00:20:23,680 --> 00:20:26,320 Speaker 1: money and not to buy stuff. And that's and that's 404 00:20:26,320 --> 00:20:31,600 Speaker 1: what really people need to understand about leveraging credit, not 405 00:20:31,720 --> 00:20:34,760 Speaker 1: your personal money, you know, leveraging credit money you can 406 00:20:34,800 --> 00:20:37,280 Speaker 1: go get and and then all of a sudden, when 407 00:20:37,320 --> 00:20:38,960 Speaker 1: you need it, you can go get it. And that's 408 00:20:38,960 --> 00:20:41,320 Speaker 1: really the key because a lot of people they wait 409 00:20:41,400 --> 00:20:44,520 Speaker 1: till they wait till till it's too late, you know, 410 00:20:44,880 --> 00:20:46,840 Speaker 1: the data's on them and looking at scuare in the ass, 411 00:20:47,040 --> 00:20:49,520 Speaker 1: and then they can't go they can't go anywhere to 412 00:20:49,640 --> 00:20:52,199 Speaker 1: fix that problem. And you're talking about Rashaun, go out 413 00:20:52,240 --> 00:20:55,080 Speaker 1: there and get the line of credit zero. Interesting, when 414 00:20:55,080 --> 00:20:56,879 Speaker 1: it's available, you can go get it. It's called a 415 00:20:56,880 --> 00:20:58,920 Speaker 1: line of credit. And so that's what I've tried to 416 00:20:58,960 --> 00:21:00,919 Speaker 1: do in my life. You know, this is almost like 417 00:21:01,240 --> 00:21:04,440 Speaker 1: a really powerful refresher course for me because the fact 418 00:21:04,480 --> 00:21:07,880 Speaker 1: that you know, you you even I'm considering the expert 419 00:21:07,920 --> 00:21:11,080 Speaker 1: though Herman, that doesn't mean I'm an expert, because you know, 420 00:21:11,240 --> 00:21:13,879 Speaker 1: you don't do stuff all the time and keep keeping 421 00:21:14,359 --> 00:21:16,040 Speaker 1: like like if you don't if you know Spanish, you 422 00:21:16,040 --> 00:21:18,160 Speaker 1: don't space say Spanish, you don't speak it all the time, 423 00:21:18,800 --> 00:21:20,560 Speaker 1: you want to lose it. And the same thing with 424 00:21:20,600 --> 00:21:23,159 Speaker 1: these muscle memory you're talking about. Rashan. I have a 425 00:21:23,200 --> 00:21:26,040 Speaker 1: business opportunity where I was. I was passionate about it. 426 00:21:26,080 --> 00:21:27,840 Speaker 1: Then my brother had to slap me upside of the 427 00:21:27,840 --> 00:21:29,840 Speaker 1: here and say, boy, what'd you just start charging people? 428 00:21:30,080 --> 00:21:32,080 Speaker 1: And then that then you go, you think, and then 429 00:21:32,119 --> 00:21:34,080 Speaker 1: then then the crazy question comes out of your mouth. 430 00:21:34,240 --> 00:21:40,520 Speaker 1: You think they'll pay me, And that's that's when you 431 00:21:40,520 --> 00:21:43,480 Speaker 1: start saying, what is my value? And that's the number 432 00:21:43,480 --> 00:21:47,600 Speaker 1: one problem that people have and going into business. They 433 00:21:47,640 --> 00:21:50,320 Speaker 1: do not understand their value. And that's when you have 434 00:21:50,359 --> 00:21:53,160 Speaker 1: to do the research. You have to look at competitors, 435 00:21:53,160 --> 00:21:56,000 Speaker 1: what they're charging and what they're offering, and then you 436 00:21:56,080 --> 00:21:58,560 Speaker 1: fall in line. You don't have to match them, but 437 00:21:58,680 --> 00:22:01,720 Speaker 1: falling the hide and the low fall in the middle. 438 00:22:01,800 --> 00:22:04,560 Speaker 1: So you can get started and have a justification. Say hey, 439 00:22:04,640 --> 00:22:06,240 Speaker 1: if you know, if you if you think I'm high, 440 00:22:06,400 --> 00:22:09,800 Speaker 1: go over there, go over there exactly. You know, you know, 441 00:22:09,920 --> 00:22:13,040 Speaker 1: my my reputation of what I've done for you justifies 442 00:22:13,119 --> 00:22:15,679 Speaker 1: me charging you this I have for work history and 443 00:22:15,720 --> 00:22:18,520 Speaker 1: so so that's really important when I'm talking to you 444 00:22:18,560 --> 00:22:21,600 Speaker 1: and development it. But also you're gonna talk about remember 445 00:22:21,600 --> 00:22:24,040 Speaker 1: the CPA side, the team side of it. Remember that 446 00:22:24,119 --> 00:22:25,760 Speaker 1: was the other question side I wanted to find out 447 00:22:25,760 --> 00:22:28,399 Speaker 1: because we started on you. You said, Roshan, let me 448 00:22:28,400 --> 00:22:32,160 Speaker 1: talk about this part before we get to the team side, right. 449 00:22:32,840 --> 00:22:39,080 Speaker 1: So definitely get yourself a tax um professional or c 450 00:22:39,280 --> 00:22:42,400 Speaker 1: p A. I think that's another thing that our community 451 00:22:42,480 --> 00:22:48,160 Speaker 1: is definitely lacking. Understanding taxes also UM and UM and 452 00:22:48,200 --> 00:22:51,920 Speaker 1: how to not always pay taxes legally, because that's another thing. 453 00:22:51,960 --> 00:22:54,080 Speaker 1: Like it's one thing to make money, but you have 454 00:22:54,160 --> 00:22:55,760 Speaker 1: to do your best to keep money. So I do 455 00:22:55,840 --> 00:22:58,359 Speaker 1: have a professional that does work on my taxes, and 456 00:22:58,440 --> 00:23:02,199 Speaker 1: we actually have a biden monthly. Every other month, we 457 00:23:02,280 --> 00:23:04,720 Speaker 1: have a meeting to see what the company has done. 458 00:23:04,960 --> 00:23:08,119 Speaker 1: Let's pay some taxes early. UM, here's some strategy to 459 00:23:08,119 --> 00:23:10,399 Speaker 1: help you differ in keeping more of your money and 460 00:23:10,400 --> 00:23:13,240 Speaker 1: paying less taxes so that when April comes around in 461 00:23:14,080 --> 00:23:16,639 Speaker 1: one I'm in good standing. You know, the government just 462 00:23:16,680 --> 00:23:20,320 Speaker 1: want their money, pay them their money. But also what 463 00:23:20,440 --> 00:23:22,719 Speaker 1: I from what I realized from my mentors that are 464 00:23:22,760 --> 00:23:25,520 Speaker 1: in my life, is that there's many tax um rules 465 00:23:25,520 --> 00:23:28,520 Speaker 1: and regulations that the government has in place for entrepreneurs 466 00:23:29,040 --> 00:23:32,360 Speaker 1: business owners. Um that you can that you can help 467 00:23:32,440 --> 00:23:33,800 Speaker 1: keep a lot of your money. And if I could 468 00:23:33,800 --> 00:23:36,800 Speaker 1: worry with just just a couple of them. So um, 469 00:23:36,920 --> 00:23:39,280 Speaker 1: when I because I have that piece of paper that 470 00:23:39,320 --> 00:23:42,640 Speaker 1: says I'm an LLC or business So when I fly 471 00:23:42,840 --> 00:23:44,879 Speaker 1: to Miami, I could have happened to be going to 472 00:23:44,920 --> 00:23:48,560 Speaker 1: see my my aunt, right because I discussed business on 473 00:23:48,600 --> 00:23:50,560 Speaker 1: that trip. I'm on the airplane and I give somebody 474 00:23:50,600 --> 00:23:53,120 Speaker 1: my business card. I'm at the gas station, I talked 475 00:23:53,119 --> 00:23:56,520 Speaker 1: about credit repair. Now I'm able to write off that 476 00:23:56,640 --> 00:23:59,920 Speaker 1: plane ticket or that hotel because now it's a busy 477 00:24:00,000 --> 00:24:01,879 Speaker 1: and the strip and there's a tactic that a lot 478 00:24:01,960 --> 00:24:05,320 Speaker 1: of these fortunate five companies are using to keep a 479 00:24:05,400 --> 00:24:07,400 Speaker 1: lot of the money that they earned. And we can 480 00:24:07,440 --> 00:24:09,919 Speaker 1: do the same thing if we have that piece of 481 00:24:09,920 --> 00:24:12,320 Speaker 1: paper which is an LLC and documentation that you are 482 00:24:12,320 --> 00:24:16,919 Speaker 1: in real business. That's key, the real business terms. You know, 483 00:24:17,359 --> 00:24:20,359 Speaker 1: you heard me kind of like jokingly complain about what 484 00:24:20,600 --> 00:24:23,879 Speaker 1: the you know, the pandemic that we are in. Really, 485 00:24:24,240 --> 00:24:27,040 Speaker 1: when you're talking about trying to resolve or you can't 486 00:24:27,040 --> 00:24:29,159 Speaker 1: just switch on the lights right now and fix the 487 00:24:29,200 --> 00:24:31,880 Speaker 1: problem in this country because you know at four point 488 00:24:31,920 --> 00:24:35,520 Speaker 1: four million people are applying for unemployment and you know 489 00:24:35,720 --> 00:24:38,320 Speaker 1: the states are slowly reopening. We're talking about me a 490 00:24:38,320 --> 00:24:41,879 Speaker 1: couple of years before we even see a complete turnaround 491 00:24:42,080 --> 00:24:45,439 Speaker 1: of the results of this turnaround. What advice are you 492 00:24:45,520 --> 00:24:47,800 Speaker 1: giving to your clients and what are you giving to 493 00:24:47,840 --> 00:24:50,680 Speaker 1: any potential customer that will come to you right now 494 00:24:51,000 --> 00:24:54,800 Speaker 1: who's seeking opportunities to fall in the potential loans because 495 00:24:54,800 --> 00:24:58,919 Speaker 1: we know they're tighter now, restrictions are tight. What advice 496 00:24:58,920 --> 00:25:03,440 Speaker 1: are you giving them right now? So the obvious one, UM, 497 00:25:03,480 --> 00:25:05,360 Speaker 1: without having to the labor at the point, is when 498 00:25:05,359 --> 00:25:07,560 Speaker 1: you put yourself in position. I always say that first, 499 00:25:07,600 --> 00:25:10,080 Speaker 1: when you're in position with good credit, a lot of 500 00:25:10,080 --> 00:25:12,919 Speaker 1: these resources are still accessible to you. So I have 501 00:25:13,000 --> 00:25:15,000 Speaker 1: a lot of clients who I fixed their credit or 502 00:25:15,000 --> 00:25:17,640 Speaker 1: they came to me with good credit. They're still getting capital. 503 00:25:17,920 --> 00:25:19,960 Speaker 1: It may not be as much as it was before 504 00:25:20,600 --> 00:25:23,240 Speaker 1: um this prerecession area that we're in, but they're still 505 00:25:23,280 --> 00:25:26,520 Speaker 1: getting capital to make some moves. Number Two, I want 506 00:25:26,520 --> 00:25:28,480 Speaker 1: to talk to your entrepreneurs of people who are trying 507 00:25:28,480 --> 00:25:31,520 Speaker 1: to get into this game. Is to be able to 508 00:25:31,600 --> 00:25:34,479 Speaker 1: shift and pay attention to what's going on around you 509 00:25:34,800 --> 00:25:38,920 Speaker 1: to make your business successful. So here's an example of this. So, um, 510 00:25:38,960 --> 00:25:42,280 Speaker 1: it was probably three weeks ago. UM, I'm in my 511 00:25:42,600 --> 00:25:46,199 Speaker 1: home office um slash man case and UM, I hear 512 00:25:46,240 --> 00:25:48,679 Speaker 1: a lot of rockets upstairs. I go upstairs and my 513 00:25:48,720 --> 00:25:51,560 Speaker 1: wife is working out in the living room. I've never 514 00:25:51,640 --> 00:25:53,680 Speaker 1: done that before, and I'm like, why are you, why 515 00:25:53,680 --> 00:25:56,800 Speaker 1: are you making all this going? And then I look over. 516 00:25:57,080 --> 00:25:59,680 Speaker 1: She has her laptop open, the cameras pointing to her, 517 00:25:59,760 --> 00:26:02,080 Speaker 1: and she's connect she's connected it to the flat screen 518 00:26:02,160 --> 00:26:05,439 Speaker 1: TV and it's a workout class. Somebody's doing a workout class. 519 00:26:05,680 --> 00:26:08,240 Speaker 1: I was like, oh, that's really interesting. So I tap 520 00:26:08,320 --> 00:26:10,560 Speaker 1: on the screen and it's a zoom call and there 521 00:26:10,560 --> 00:26:13,040 Speaker 1: are a hundred and sixty five people from all over 522 00:26:13,080 --> 00:26:16,280 Speaker 1: the world on this phone call, on this zoom call, 523 00:26:16,320 --> 00:26:19,240 Speaker 1: excuse me, working out together as the Caribbean themes. Everybody 524 00:26:19,240 --> 00:26:21,639 Speaker 1: got their flags out there, dancing and working out, and 525 00:26:21,880 --> 00:26:23,720 Speaker 1: I was so intrigued by it. I sat down and 526 00:26:23,720 --> 00:26:26,560 Speaker 1: I watched the whole thing. And then the lady you know, 527 00:26:27,000 --> 00:26:29,600 Speaker 1: gave everybody opportunity to dance with their families and made 528 00:26:29,640 --> 00:26:33,360 Speaker 1: it a real community um situation because we're all stuck 529 00:26:33,400 --> 00:26:37,040 Speaker 1: home together. I actually emailed the lady after we've been done. 530 00:26:37,040 --> 00:26:38,359 Speaker 1: I was like, well what do you do? Because I 531 00:26:38,359 --> 00:26:40,600 Speaker 1: was so intrigued. She's like, well, I I own a gym, 532 00:26:40,840 --> 00:26:42,600 Speaker 1: and of course nobody could come to the gym. So 533 00:26:42,680 --> 00:26:44,520 Speaker 1: she's like, I decided to, you know, do this phone 534 00:26:44,520 --> 00:26:47,080 Speaker 1: call to keep everybody motivated. And I was like, listen, 535 00:26:47,119 --> 00:26:51,680 Speaker 1: when the gym's open again, right, continue, bring your laptop 536 00:26:51,760 --> 00:26:54,840 Speaker 1: to your class and tea the same situation, and charge 537 00:26:54,880 --> 00:26:56,800 Speaker 1: five dollars for the link for the zoom link. I 538 00:26:56,840 --> 00:26:59,000 Speaker 1: bet you people will still pay for it because while 539 00:26:59,080 --> 00:27:01,400 Speaker 1: people were locked in and you figured out a way 540 00:27:01,440 --> 00:27:03,560 Speaker 1: to bring people together. And she's, oh my god, that's 541 00:27:03,560 --> 00:27:05,720 Speaker 1: a brilliant idea. Like it's two people on this call. 542 00:27:06,119 --> 00:27:08,240 Speaker 1: Imagine what it's going to be like when you open again. 543 00:27:08,440 --> 00:27:11,240 Speaker 1: So being able to be creative and shift your business 544 00:27:11,720 --> 00:27:15,840 Speaker 1: up to something new, especially online um, is a great 545 00:27:15,880 --> 00:27:18,359 Speaker 1: strategy for entrepreneurs to still be able to make money. 546 00:27:18,480 --> 00:27:21,160 Speaker 1: That's what Peloton is doing. That's all they're doing right now. 547 00:27:21,600 --> 00:27:24,040 Speaker 1: They're doing you know, they're sitting up there, somebody's training, 548 00:27:24,080 --> 00:27:27,879 Speaker 1: they're charging amazing numbers, and it's really smart. It's like, 549 00:27:27,920 --> 00:27:30,040 Speaker 1: you know, your visionary from that standpoint, you see an 550 00:27:30,040 --> 00:27:32,320 Speaker 1: opportunity to make money and you can tap it to it. 551 00:27:32,520 --> 00:27:34,080 Speaker 1: But you know what she's doing the same thing we 552 00:27:34,119 --> 00:27:38,320 Speaker 1: talked about early afraid to charge. She's providing a service. 553 00:27:38,800 --> 00:27:41,119 Speaker 1: Say say she got a hundred sixty people and she 554 00:27:41,200 --> 00:27:43,760 Speaker 1: said ten dollars. She might go down the fifty. She 555 00:27:43,840 --> 00:27:46,160 Speaker 1: might go down the fifty, but at fifty she didn't 556 00:27:46,160 --> 00:27:48,600 Speaker 1: have before, and she would get back up to it. 557 00:27:48,920 --> 00:27:52,440 Speaker 1: You know what I'm saying. And it's really it's gonna 558 00:27:52,440 --> 00:27:55,800 Speaker 1: share it. Everybody's gonna share the link. Absolutely, yeah, but 559 00:27:55,920 --> 00:27:58,000 Speaker 1: you're it's really interesting. I would you tell people, you know, 560 00:27:58,320 --> 00:28:00,359 Speaker 1: you can let people come into your business for free 561 00:28:01,040 --> 00:28:02,919 Speaker 1: and you can charge a dollar. They're coming with a 562 00:28:02,920 --> 00:28:06,080 Speaker 1: different attitude. Yeah, if they want to know what they're 563 00:28:06,080 --> 00:28:08,800 Speaker 1: spending their money on. And so if you're charging people 564 00:28:08,840 --> 00:28:12,679 Speaker 1: for this workout, then guess what you're presented differently as well. 565 00:28:13,400 --> 00:28:16,040 Speaker 1: But also they'll understand the value of what they're getting 566 00:28:16,080 --> 00:28:19,280 Speaker 1: out of it, and they are shared more than saying that, Hey, 567 00:28:19,320 --> 00:28:21,000 Speaker 1: you know, I'm just doing this thing over here. It's 568 00:28:21,040 --> 00:28:23,719 Speaker 1: for free. People don't promote free as much as they 569 00:28:23,720 --> 00:28:26,240 Speaker 1: promote something they get out of something they pay for. 570 00:28:26,680 --> 00:28:30,000 Speaker 1: In this case, you're just understanding that my listeners should 571 00:28:30,040 --> 00:28:32,600 Speaker 1: understand this. How can I get in touch with you, Herman? 572 00:28:32,920 --> 00:28:34,840 Speaker 1: And also how can you give me a banner? I 573 00:28:34,880 --> 00:28:37,400 Speaker 1: got a weekly newsletter goes out to ninety thousand people 574 00:28:37,400 --> 00:28:40,360 Speaker 1: every Friday morning at nine am. Definitely love to promote 575 00:28:40,360 --> 00:28:42,600 Speaker 1: your brand, promote your business because that's what money Making 576 00:28:42,640 --> 00:28:44,720 Speaker 1: Conversations all about. But tell us how to reach out 577 00:28:44,720 --> 00:28:47,640 Speaker 1: to you. So um, you can reach out and call 578 00:28:47,760 --> 00:28:51,440 Speaker 1: my office. We're open Monday through Friday nine am to 579 00:28:51,760 --> 00:28:54,880 Speaker 1: seven pm Eastern Standard Time. Our phone number is six 580 00:28:54,920 --> 00:28:58,560 Speaker 1: O nine eight three to three five five two. That's 581 00:28:58,680 --> 00:29:01,600 Speaker 1: six O nine can read two three five two, and 582 00:29:01,640 --> 00:29:05,840 Speaker 1: you can email me at info at Bella Sloan Enterprises 583 00:29:05,840 --> 00:29:08,800 Speaker 1: dot com. That's info at b E L l A 584 00:29:09,480 --> 00:29:12,560 Speaker 1: s l o A N Enterprises E N T E 585 00:29:12,800 --> 00:29:16,880 Speaker 1: R E R I S E S dot com. My man, 586 00:29:17,080 --> 00:29:18,480 Speaker 1: I want to thank you for coming on my show 587 00:29:18,520 --> 00:29:21,720 Speaker 1: Money Making Conversation. He's the CEO and the owner Bella 588 00:29:21,800 --> 00:29:24,920 Speaker 1: Sloan Enterprises. Definitely, um, I want to hear from me 589 00:29:24,960 --> 00:29:26,680 Speaker 1: in the future. Definitely get that banner to me so 590 00:29:26,720 --> 00:29:28,920 Speaker 1: I can promote you on my social media as well 591 00:29:28,920 --> 00:29:32,200 Speaker 1: as in my newsletter. Thank you, sir, thank you so 592 00:29:32,280 --> 00:29:34,120 Speaker 1: much for having me have a bread. If you want 593 00:29:34,120 --> 00:29:36,520 Speaker 1: to hear more episodes of money Making Conversations, go to 594 00:29:36,560 --> 00:29:40,560 Speaker 1: Money Making Conversation dot com. I'm Rashean McDonald. I'm your host. 595 00:29:42,640 --> 00:29:45,360 Speaker 1: In this season of giving, Cools has gifts for all 596 00:29:45,400 --> 00:29:48,000 Speaker 1: your loved ones. For those who like to keep it cozy, 597 00:29:48,200 --> 00:29:52,880 Speaker 1: find fleeces, sweaters, loungeware, blankets and throws. Or support minority 598 00:29:52,880 --> 00:29:56,040 Speaker 1: owned or founded brands by giving gifts from Human Nation 599 00:29:56,200 --> 00:29:59,640 Speaker 1: and Shame Moisture. 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