WEBVTT - Study Hall: Blueprint To Build A Restaurant Empire 0:00:00.040 --> 0:00:03.600 An illegal alien from Guatemala charged with raping a child 0:00:03.680 --> 0:00:07.480 in Massachusetts. An MS thirteen gang member from Al Salvador 0:00:07.720 --> 0:00:11.840 accused of murdering a Texas man of Venezuelan charged with 0:00:11.920 --> 0:00:15.840 filming and selling child pornography in Michigan. These are just 0:00:15.920 --> 0:00:19.680 some of the heinous migrant criminals caught because of President 0:00:19.720 --> 0:00:23.320 Donald J. Trump's leadership. I'm Christy nom the United States 0:00:23.320 --> 0:00:28.120 Secretary of Homeland Security. Under President Trump, attempted illegal border 0:00:28.160 --> 0:00:31.680 crossings are at the lowest levels ever recorded, and over 0:00:31.760 --> 0:00:34.960 one hundred thousand illegal aliens have been arrested. If you 0:00:35.040 --> 0:00:38.920 are here illegally, your next you will be fined nearly 0:00:39.000 --> 0:00:43.000 one thousand dollars a day, imprisoned, and deported. You will 0:00:43.040 --> 0:00:46.680 never return. But if you register using our CBP home 0:00:46.720 --> 0:00:50.120 app and leave now, you could be allowed to return legally. 0:00:50.479 --> 0:00:55.240 Do what's right. Leave now. Under President Trump, America's laws, 0:00:55.400 --> 0:00:57.840 border and families will be protected. 0:00:57.920 --> 0:01:03.200 Sponsored by the United States Department of Homeland Security. 0:01:06.720 --> 0:01:08.800 All right, guys, So a lot of people asks us 0:01:08.800 --> 0:01:10.520 how do they make a podcast? So I'm let you 0:01:10.680 --> 0:01:14.840 on a secret on the easiest, most productive way to 0:01:14.959 --> 0:01:17.360 start a podcast and get it up and running. And 0:01:17.400 --> 0:01:20.880 that is the app called Anchor is free. They have 0:01:20.959 --> 0:01:23.120 all kinds of cool creation tools that allow you to 0:01:23.200 --> 0:01:26.040 record and edit your podcast right from your phone a computer. 0:01:26.480 --> 0:01:28.800 They will distribute your podcast for you to all of 0:01:28.840 --> 0:01:33.000 the major outlets including Spotify, Apple, Google, manymore, and you 0:01:33.040 --> 0:01:36.160 can make money from your podcast with no minimum listenership. 0:01:36.400 --> 0:01:39.280 It's everything you need to make a podcast in one simple, 0:01:39.400 --> 0:01:43.120 easy place. So if you're interested in starting a podcast, 0:01:43.480 --> 0:01:47.480 go download the free Anchor app or go to anchor 0:01:47.640 --> 0:01:49.520 dot fm to get started. 0:01:49.600 --> 0:01:50.160 Let's do it. 0:01:55.640 --> 0:02:00.520 My graduates from my school being forts bad drop bag 0:02:00.600 --> 0:02:03.960 drop or Mike drop bag drop drop. 0:02:14.520 --> 0:02:16.000 You know from the time when I was young, like 0:02:16.000 --> 0:02:18.240 you're killing the guys, familiarize you what you know my 0:02:18.280 --> 0:02:20.240 story about when we're being young always had a model 0:02:20.240 --> 0:02:22.520 of cutting out the middlemunth right. So like, if you 0:02:22.560 --> 0:02:25.200 take my restaurant, I sell breakfast and brunch. How many 0:02:25.240 --> 0:02:27.040 times have you been to brunch on a Monday morning? 0:02:29.360 --> 0:02:29.520 Never? 0:02:29.880 --> 0:02:30.000 Yea. 0:02:32.440 --> 0:02:35.240 So now I'm in the industry in which seventy percent 0:02:35.280 --> 0:02:37.880 of my customer base is gonna come Saturday Sunday, right, 0:02:38.320 --> 0:02:40.680 And then I'm in a white neighborhood, so a lot 0:02:40.680 --> 0:02:42.560 of my clients I was black, which means that they 0:02:42.639 --> 0:02:44.680 drove to the restaurant, right, I don't have parking, so 0:02:44.760 --> 0:02:46.600 you drove, you had to go out of your way, 0:02:47.000 --> 0:02:48.760 you know. And then from when you finally get in there, 0:02:48.800 --> 0:02:50.920 you're looking for an experience and that can't happen in 0:02:50.919 --> 0:02:54.200 thirty minutes. So being able to really identify who my 0:02:54.240 --> 0:02:57.040 customers are and what they want allow me. 0:02:57.000 --> 0:03:00.360 To really focus on just a small nation audience. So 0:03:00.720 --> 0:03:01.760 most people can admit they have. 0:03:01.760 --> 0:03:03.639 A mental brunch on Tuesday nless you live in LA 0:03:03.800 --> 0:03:05.160 you're like wealthy issue, you know what I mean? You 0:03:06.960 --> 0:03:08.960 know what I'm saying, So like it was easier for 0:03:08.960 --> 0:03:11.040 me to be able to figure out what really miss. 0:03:11.120 --> 0:03:13.840 I'm also a several pieces to it. I don't have 0:03:13.880 --> 0:03:14.519 to cut labor. 0:03:14.720 --> 0:03:16.880 Everybody coming on the same time, everybody get paid the 0:03:16.919 --> 0:03:18.600 same amount of things they can go home and kind 0:03:18.600 --> 0:03:21.639 of gazing labor in that way, no food goes the 0:03:21.680 --> 0:03:23.600 ways we run everything a small bash and when we're 0:03:23.600 --> 0:03:25.520 out of things, we're out of things because people understand 0:03:25.520 --> 0:03:29.040 the concept, right, So those things really made sense. And 0:03:29.120 --> 0:03:31.200 then also I knew that it would create in the 0:03:31.280 --> 0:03:33.079 loure in a sense that people would want to come 0:03:33.160 --> 0:03:37.400 there and it would foundationally be a destination place. So 0:03:37.400 --> 0:03:39.400 it's like, now everybody got a cram in these two 0:03:39.480 --> 0:03:40.640 days for this place. 0:03:40.680 --> 0:03:41.480 That's really remarkable. 0:03:41.480 --> 0:03:43.280 It's like a limited quantity of Yeah. 0:03:43.120 --> 0:03:43.920 It's limited quantity. 0:03:44.000 --> 0:03:48.760 Yeah, you know that approach, that model is pretty pretty brilliant. 0:03:49.080 --> 0:03:50.680 The fact that y'all is doing it, because. 0:03:50.520 --> 0:03:53.160 One of the fastest growing chains in America is called 0:03:53.440 --> 0:03:56.040 First Watch. It's like this restaurant Cheam, and they have 0:03:56.080 --> 0:03:59.480 a similar model where they've specialized just in breakfast and brunch, 0:03:59.800 --> 0:04:02.240 but they only open from seven to two thirty and 0:04:02.320 --> 0:04:03.360 their thing was like the same thing. 0:04:03.360 --> 0:04:07.240 He says. It's like the work quality of it, Like everybody. 0:04:06.840 --> 0:04:09.360 Loves coming because it's notices one shift, and then the 0:04:09.440 --> 0:04:13.600 employee retention rate is great because people have work home 0:04:13.640 --> 0:04:17.000 balance where they can get home, they great kids up, 0:04:17.040 --> 0:04:19.920 and they can still make dinner and everybody loves it. 0:04:19.960 --> 0:04:21.640 So like, that's interesting that you guys are doing because 0:04:21.720 --> 0:04:23.159 it seems to be a trend that's them to start 0:04:23.200 --> 0:04:24.880 happening in the country. 0:04:25.160 --> 0:04:29.040 And also all right, so because in this show, so 0:04:29.080 --> 0:04:31.080 a lot of shows I'll watch in YouTube, like I'll 0:04:31.080 --> 0:04:33.920 watch these Gurules quote unquote Gurules on YouTube for forty 0:04:33.920 --> 0:04:35.800 five minutes, and I don't I don't know what I 0:04:35.839 --> 0:04:39.800 actually watched. It's like they talk in circles for forty 0:04:39.800 --> 0:04:43.200 five minutes and then it's like, Okay, subscribe to my 0:04:43.520 --> 0:04:46.440 private YouTube channel premium nine hundred dollars. 0:04:46.440 --> 0:04:48.279 I'm more for go to my seminars. 0:04:48.279 --> 0:04:49.920 So it's like, we're going to give you the straight 0:04:50.400 --> 0:04:52.680 blueprint of how to be successful. Whether you're taking the 0:04:52.800 --> 0:04:54.240 eyes up to you, but we want to give you 0:04:54.279 --> 0:04:56.040 all the two that you need to be successful. So 0:04:56.600 --> 0:04:59.919 can we talk about as far as like revenue, like 0:05:00.080 --> 0:05:03.920 how your revenue model actually works, because the thing about 0:05:03.960 --> 0:05:06.400 it is that, especially in the black community, how I 0:05:06.440 --> 0:05:09.720 see it is that entrepreneurs, we have three types of 0:05:09.720 --> 0:05:12.200 businesses that we always aspire to be right. 0:05:12.120 --> 0:05:13.640 To our say, let's do the list. 0:05:13.839 --> 0:05:17.039 Barber shop here, salon number one, that's number one, right, 0:05:17.200 --> 0:05:21.240 and then clothing store yep, and then a restaurant. I 0:05:21.279 --> 0:05:23.719 don't know why, but everybody is like everybody's dreaming to 0:05:23.720 --> 0:05:25.839 have a restaurant, right, and it's one of the hardest 0:05:25.880 --> 0:05:27.719 businesses to actually be successful. 0:05:27.760 --> 0:05:30.520 And like I think like ninety five percent of restaurants. 0:05:30.080 --> 0:05:31.960 And kind of came to the conclusion that it's a 0:05:32.000 --> 0:05:32.640 status thing. 0:05:33.120 --> 0:05:36.080 But yes, your model, but Joins is actually worked, it's working, 0:05:36.200 --> 0:05:37.920 and it's still a status yeah yeah, yea. 0:05:39.000 --> 0:05:42.440 So it's about revenue, and like, how yeah, can you 0:05:43.240 --> 0:05:45.719 in the restaurant industry, just specifically in my industry, you 0:05:45.720 --> 0:05:48.640 have three general costs, which is you have label costs, 0:05:48.680 --> 0:05:51.320 you have food costs, and then you have overhead, right, 0:05:51.320 --> 0:05:53.160 it's overhead or the fixed cause, which is the cost 0:05:53.160 --> 0:05:58.400 of the building operating expenses, whether it's trash and mobile, greational, moval, gas, electric, 0:05:58.560 --> 0:05:59.760 you cable things like that. 0:05:59.760 --> 0:06:01.600 Those things won't go away. They're fixed, right. 0:06:01.880 --> 0:06:03.680 And then you have labor cause, which is obviously the 0:06:03.720 --> 0:06:07.400 cost of having people on STAB that can officially execute 0:06:07.440 --> 0:06:08.080 whatever it is. 0:06:08.040 --> 0:06:10.520 That you want to do. And then you have food costs. 0:06:11.200 --> 0:06:13.640 So I scaled the model in a way in which 0:06:13.640 --> 0:06:16.599 the profit was already built in. So it was I 0:06:16.720 --> 0:06:18.159 like to call it winning at the table. So I 0:06:18.200 --> 0:06:20.320 went at the table. Like for example, with me, my 0:06:20.400 --> 0:06:22.640 highest price selling item is a chicken and waffle, but 0:06:22.680 --> 0:06:25.720 it's the most highly consumed item. A lot of times 0:06:25.760 --> 0:06:27.680 people who are in the restaurant industry They tend to 0:06:27.680 --> 0:06:29.760 sell things because they having a lower to them, or 0:06:29.760 --> 0:06:31.600 they look really nice, or they think it's going to 0:06:31.640 --> 0:06:34.599 attract a certain crowd of people, not considering food costs. 0:06:35.040 --> 0:06:36.960 Food costs can really sink the ship if you don't 0:06:37.000 --> 0:06:39.560 really focus on that. My fixed costs and my labor 0:06:39.600 --> 0:06:43.400 costs are below the industry standard. So like say, for example, 0:06:43.480 --> 0:06:45.200 let's take a chicken and weal for example, right, and 0:06:45.240 --> 0:06:47.039 I say, all right, it takes me two dollars to 0:06:47.040 --> 0:06:49.960 make this chicken and waffle. And I'll ask a young kid, 0:06:50.040 --> 0:06:52.039 so what are you selling for? They said six dollars? Why, 0:06:52.320 --> 0:06:55.000 because that's what I thought I should sell it for. First, 0:06:55.040 --> 0:06:56.800 It's like, if you take me, I'll take the chicken 0:06:56.800 --> 0:06:58.279 and walf for a two bucks, And I know my 0:06:58.440 --> 0:07:01.280 food costs to be twenty percent right side times about five, 0:07:02.080 --> 0:07:02.520 So I've. 0:07:02.400 --> 0:07:04.320 Already won at the table. I don't have to make 0:07:04.360 --> 0:07:04.840 an assumption. 0:07:05.279 --> 0:07:07.359 But then I might add a two dollar margin on 0:07:07.400 --> 0:07:09.400 it and sell it for twelve dollars a while, because. 0:07:09.200 --> 0:07:10.960 Now you're gonna take you ten souls. You're gonna want 0:07:10.960 --> 0:07:11.560 syrup to go. 0:07:12.120 --> 0:07:14.360 You know, it might be a situation where they might 0:07:14.400 --> 0:07:16.240 burn your chicken the off and now you gotta make another, 0:07:16.960 --> 0:07:18.520 so you have to win at the table. 0:07:20.000 --> 0:07:21.960 In my industry, the margin is about five to. 0:07:22.000 --> 0:07:24.800 Six percent for the owner of what you'll typically make, 0:07:24.840 --> 0:07:27.600 which you'll typically net. I'm netting, I mean twenty five 0:07:27.720 --> 0:07:30.840 thirty percent. So I'll break the model down as real simple. 0:07:31.920 --> 0:07:34.840 My fixed costs weekly at seven hundred dollars between the 0:07:34.880 --> 0:07:37.280 supper club and homemade bunch, with grows anywhere from fifteen 0:07:37.280 --> 0:07:39.840 to twenty grand. My full cost is twenty percent. So 0:07:39.920 --> 0:07:41.960 let's take the twenty grand, which is the tying number. Right, 0:07:42.000 --> 0:07:44.320 So my food cost is twenty percent. That means that 0:07:44.400 --> 0:07:46.360 four percent four thousand goals to food. 0:07:46.440 --> 0:07:46.640 Right. 0:07:46.800 --> 0:07:49.560 I already told you that my fixed costs was seven hundred, right, 0:07:49.600 --> 0:07:51.800 which leads me roughly at forty seven hundred. That leads 0:07:51.840 --> 0:07:52.720 me at fifteen to three. 0:07:53.360 --> 0:07:55.600 Right. I run a seven man band. 0:07:56.320 --> 0:07:58.360 I pay all of them a salary, So all seven 0:07:58.400 --> 0:07:59.760 people get seven hundred. 0:07:59.440 --> 0:08:02.120 Dollars a piece. It's forty nine hundred. Right. They'll leave 0:08:02.160 --> 0:08:03.920 me with ten grand gross. 0:08:05.040 --> 0:08:07.280 By the time that now that is extracted, maybe I 0:08:07.320 --> 0:08:09.480 might walk away with seventy five hundred, maybe eight grand, 0:08:09.720 --> 0:08:11.760 you know, considering that I got stay taxes, and I 0:08:11.800 --> 0:08:14.520 also got my personal income tax. So now how is 0:08:14.520 --> 0:08:16.280 it that I'm able to make three hundred and fifty 0:08:16.280 --> 0:08:20.560 thousand dollars a year when we only gross a million dollars? 0:08:20.600 --> 0:08:22.240 But in a technical restaurant for me to make a 0:08:22.360 --> 0:08:23.960 undred fifty thousand dollars a yeah, I had to gross 0:08:24.000 --> 0:08:27.160 five million dollars. It's a winning model. Why because my 0:08:27.200 --> 0:08:30.200 fixed costs are low? Why because my my food costs 0:08:30.200 --> 0:08:32.000 have already been priced out. So I made sure I 0:08:32.040 --> 0:08:33.800 want it the table, and then I put all my 0:08:33.840 --> 0:08:36.040 employees on a salary wage. That way, I don't get 0:08:36.040 --> 0:08:39.200 caught up in hourly in doullars. So it makes sense 0:08:39.200 --> 0:08:40.679 for us right now. 0:08:40.760 --> 0:08:44.880 Blueprint, that's that's what I take. We appreciate. 0:08:45.640 --> 0:08:47.120 First of all, I want to thank you for saying that, 0:08:47.200 --> 0:08:50.199 because a lot of times people they don't give the 0:08:50.240 --> 0:08:52.720 blueprint right, or they don't they're like, stink you with 0:08:52.760 --> 0:08:54.760 their numbers, or they're like it's hit, it's hit a secret. 0:08:54.800 --> 0:08:57.520 So I want you to fully appreciate store with you. 0:08:57.720 --> 0:08:59.400 They don't believe the trucks, that's. 0:08:59.240 --> 0:09:02.040 Not even I want you to fully appreciate somebody just 0:09:02.080 --> 0:09:05.320 coming in and laying it on the table, right, Like 0:09:05.360 --> 0:09:06.839 I said, we want I don't know what else we 0:09:06.880 --> 0:09:09.080 can do. Try to help you out the best way 0:09:09.120 --> 0:09:12.480 we possibly can. But it's important to have a plan. 0:09:12.559 --> 0:09:14.120 That's the thing I like when we spoke on the phone. 0:09:14.200 --> 0:09:15.320 You have a plan in place. 0:09:15.400 --> 0:09:15.640 Right. 0:09:15.840 --> 0:09:18.360 Then, another quick piece I will advise people to really 0:09:18.360 --> 0:09:22.360 focus on, too, is play small ball for a while. 0:09:22.360 --> 0:09:24.560 Don't get so caught up on perceptional what people think. 0:09:24.600 --> 0:09:26.800 So like, for example, if you were to say, Derek, well, 0:09:26.840 --> 0:09:28.640 how would you scale your brand if you had no money? 0:09:28.720 --> 0:09:29.520 Let me give you that right? 0:09:29.600 --> 0:09:30.240 So all right? 0:09:30.240 --> 0:09:31.920 For example, if I had no money, I had the 0:09:31.960 --> 0:09:34.080 same food, what I would do is I would do 0:09:34.120 --> 0:09:36.080 a pop up and I would do collapse. 0:09:36.559 --> 0:09:38.280 You see what I'm saying. Like say, for example, you 0:09:38.360 --> 0:09:39.240 guys have a podcast. 0:09:39.320 --> 0:09:41.520 I'm sure you gotta eat eventually, and I would say, well, 0:09:41.600 --> 0:09:42.680 let me pop up at the podcast. 0:09:42.760 --> 0:09:44.560 Bring some attention to my brain and I'll make you 0:09:44.559 --> 0:09:45.480 guys chicken and waffles. 0:09:45.559 --> 0:09:48.640 Right, pop ups create collapse because now your attention to 0:09:48.640 --> 0:09:50.680 who you are, So the things that you can focus 0:09:50.720 --> 0:09:52.400 on what you're free, which is your content that you 0:09:52.440 --> 0:09:54.079 can produce and put out right. 0:09:54.360 --> 0:09:55.520 The image of your brand. 0:09:55.280 --> 0:09:57.680 And the projections and the messages that you convey, and 0:09:57.720 --> 0:09:59.800 then the relationships that you can create based off of 0:09:59.840 --> 0:10:02.440 the that you created, which can allow you to a 0:10:02.520 --> 0:10:03.560 further part of your brand. 0:10:03.559 --> 0:10:04.600 That's the reason why I'm here. 0:10:04.920 --> 0:10:08.160 So now those collapse create situations where now you can 0:10:08.200 --> 0:10:10.400 generate enough money to maybe not get a restaurant, a 0:10:10.440 --> 0:10:13.000 brick and mortar, but maybe a food truck, maybe a car, 0:10:13.760 --> 0:10:15.160 and then the car generates flow. 0:10:15.400 --> 0:10:17.520 You have to understand that flow is data. 0:10:18.040 --> 0:10:20.200 So all the customers who come into my restaurant, I 0:10:20.240 --> 0:10:22.160 make sure that they're aware that I have a separate club. 0:10:22.360 --> 0:10:24.520 I make sure that they connect with me through social media. 0:10:24.679 --> 0:10:26.200 I make sure I got your phone number and I 0:10:26.240 --> 0:10:27.280 make sure I got your email. 0:10:27.800 --> 0:10:29.599 So now I'm texting you pictures of the chicken and 0:10:29.600 --> 0:10:31.679 waffle while you at work all day. You know what 0:10:31.720 --> 0:10:33.680 I'm saying, And I'm creating that flow. 0:10:33.679 --> 0:10:36.199 There's another concept that we execute from time to time 0:10:36.400 --> 0:10:38.280 called a brunch and go, a brunch pop up of 0:10:38.360 --> 0:10:41.360 which I can show pictures of my meals right and 0:10:41.400 --> 0:10:43.080 I can send them out a mass text them. 0:10:43.280 --> 0:10:45.240 You guys can order them through the cash app, and 0:10:45.240 --> 0:10:46.560 then you can come pick them up from my house. 0:10:47.000 --> 0:10:49.520 That's a very effective, very efficient, very clean way in 0:10:49.600 --> 0:10:52.040 which you don't have any weights, you don't have any overhead, 0:10:52.080 --> 0:10:53.000 you don't have any labor. 0:10:53.200 --> 0:10:54.760 It's easy to scale a brand that way. 0:10:55.360 --> 0:10:57.200 And that's like one of the things that again that 0:10:57.760 --> 0:10:59.680 we're starting to see the restaurant industry grow to is 0:10:59.679 --> 0:11:02.000 like these ghost restaurants, so they stay at home restaurants, 0:11:02.040 --> 0:11:04.800 but people are making them based on their orders, you 0:11:04.880 --> 0:11:07.320 know what I mean. And Chick fil A actually just 0:11:07.760 --> 0:11:10.600 created two fulfillment centers where it's just delivery, so you 0:11:10.760 --> 0:11:12.480 order and they just ship it to you again and 0:11:12.559 --> 0:11:15.080 saves money on food costs because we're only making it 0:11:15.080 --> 0:11:16.000 when somebody orders it. 0:11:16.080 --> 0:11:19.400 Yeah, and the data, like you said, that's important. 0:11:19.960 --> 0:11:24.120 The data you said, data is you said something. 0:11:24.440 --> 0:11:26.839 Data is information, you said. 0:11:27.559 --> 0:11:30.480 So I'll say it to say this, be interested in 0:11:30.520 --> 0:11:32.520 the people who are interested in you, so like casing 0:11:32.559 --> 0:11:32.800 for them. 0:11:33.480 --> 0:11:35.679 You and your wife come into the restaurant, right, it's 0:11:35.679 --> 0:11:36.640 full of you guys. 0:11:36.360 --> 0:11:38.320 So I've already brought you in so it's easier for 0:11:38.360 --> 0:11:41.360 me to sell laterally, which means that now I could 0:11:41.400 --> 0:11:44.000 feel like data from you and say, look, I know you're. 0:11:43.880 --> 0:11:46.000 Interested in the brunch. How would you feel about a sell, 0:11:46.200 --> 0:11:47.880 how would you feel about a wedding? How would you 0:11:47.920 --> 0:11:48.800 feel about an event? 0:11:49.040 --> 0:11:51.800 And then grow your business latterly with the people who 0:11:51.800 --> 0:11:54.520 are coming in. I learned that my first store, and 0:11:54.600 --> 0:11:57.040 just being ron being real that, you know, I thought 0:11:57.040 --> 0:11:58.800 I had all these great products and I thought that 0:11:58.840 --> 0:12:02.160 people needed them, so I would go outside to the 0:12:02.160 --> 0:12:04.440 people who I felt needed them, and they weren't interested 0:12:04.440 --> 0:12:06.360 in them. But you guys are sitting here right now 0:12:06.400 --> 0:12:08.520 and you want them, and it's easier for me to 0:12:08.559 --> 0:12:08.960 be able to. 0:12:08.920 --> 0:12:09.480 Grow my brain. 0:12:09.880 --> 0:12:12.400 Also, in terms of wealth accumulation, it's always easy to 0:12:12.440 --> 0:12:14.199 grow loud only so that you can accumulate. 0:12:14.240 --> 0:12:15.600 Well, what do I mean by that? 0:12:15.679 --> 0:12:18.000 Meaning like, as opposed to me getting seven stores, I 0:12:18.000 --> 0:12:20.720 can find seven streams in one store. So now you 0:12:20.760 --> 0:12:23.000 got to realize that I can, I can coach, I 0:12:23.040 --> 0:12:26.760 can consult, I can speak. I got the restaurant, I 0:12:26.800 --> 0:12:29.360 got the food truck, I got events, I got the 0:12:29.400 --> 0:12:32.000 brunch and go. That's seven streams of income. The average 0:12:32.040 --> 0:12:34.959 manionaire got six to seven streams of income. I don't 0:12:35.000 --> 0:12:37.120 need anything else for me to get wealthy. I just 0:12:37.160 --> 0:12:40.760 need to perfect the things that I'm doing, all right, So. 0:12:40.760 --> 0:12:44.240 Yeah, so all right, so the next topic we're want 0:12:44.240 --> 0:12:47.520 to go to is scaling your business and taking your 0:12:47.520 --> 0:12:49.480 business to the next level. All right, So now you 0:12:49.559 --> 0:12:54.200 have the backstory, you have the current story, or we're 0:12:54.200 --> 0:12:56.720 gonna take it to the next level. Before I even start, 0:12:56.920 --> 0:12:58.920 we were kind of being whether we're going to do 0:12:59.080 --> 0:13:01.959 the last segment on some other stuff that's in the 0:13:02.040 --> 0:13:06.120 news right now. It's entertaining, but this is more important, Right, 0:13:07.400 --> 0:13:08.880 We're gonna we're gonna get back to that next week. 0:13:08.920 --> 0:13:11.040 We're gonna give you some more entertaining stories next week. 0:13:11.080 --> 0:13:14.560 But this is something that you can actually utilize in 0:13:14.600 --> 0:13:16.760 your day to day life and be successful and make 0:13:16.840 --> 0:13:18.640 some money. So we thought that this would be more 0:13:18.640 --> 0:13:20.600 important to cover for the last segment. So now we're 0:13:20.600 --> 0:13:23.559 going to go into how to scale your business, right, 0:13:23.600 --> 0:13:25.559 because it's one thing to have a business. It's another 0:13:25.559 --> 0:13:27.800 thing to have a successful business. It's another thing to 0:13:27.800 --> 0:13:31.320 have a successful business that can run without you and 0:13:31.559 --> 0:13:34.400 can grow into multiple locations and you can actually make 0:13:34.440 --> 0:13:36.880 some money from because we know that most entrepreneurs aren't 0:13:36.920 --> 0:13:42.920 really making money. They're struggling, right, So scalability, what's your 0:13:43.160 --> 0:13:46.800 ideas on scalability. 0:13:45.360 --> 0:13:47.480 All right, So for me, it always starts with the 0:13:47.600 --> 0:13:49.360 end in mind, you know what I mean. So the 0:13:49.400 --> 0:13:50.920 only way that you can scale is no where you're 0:13:50.920 --> 0:13:53.839 trying to go. Always related to like if we get 0:13:53.880 --> 0:13:56.400 out of here right now, we're all going somewhere, whether 0:13:56.440 --> 0:13:58.800 it's a real light, whether deer run across the road, 0:13:58.800 --> 0:14:01.960 whether it's stop shine, you continue to go. A lot 0:14:02.000 --> 0:14:04.480 of entrepreneurs are just starting, so it's like you start 0:14:04.480 --> 0:14:05.839 the ignition up to the car and. 0:14:05.840 --> 0:14:06.720 Like now you're waiting. 0:14:07.120 --> 0:14:08.960 No one's going to give you direction because we don't 0:14:09.000 --> 0:14:11.880 have any mentors. Speaking from an African alnment perspectives, I 0:14:12.000 --> 0:14:15.040 say so in terms of the scalability of the brand, 0:14:15.040 --> 0:14:17.120 you have to have a vision as to how you 0:14:17.200 --> 0:14:20.240 see opportunity in your industry for you to be able 0:14:20.240 --> 0:14:21.400 to grow in perpetuity. 0:14:21.880 --> 0:14:23.960 So it always starts for me with my grandkids. 0:14:23.960 --> 0:14:25.640 So like we say, I don't hustle for my first name, 0:14:25.680 --> 0:14:28.600 my hustle for my last right, So like why get 0:14:28.600 --> 0:14:31.880 the trucks because the stores already told you the store model, right, 0:14:32.080 --> 0:14:36.000 So the trucks are for my grandkids. So when it 0:14:36.040 --> 0:14:37.600 comes to scaling your brand, you have to you have 0:14:37.640 --> 0:14:39.360 to be focused on a handful of things. You have 0:14:39.400 --> 0:14:41.800 to have low overhead. You know what I'm saying. You 0:14:41.840 --> 0:14:43.800 have to know how to grow to your brand laterally 0:14:44.280 --> 0:14:46.880 in a way in which that you can generate multiple 0:14:46.920 --> 0:14:50.080 streams without no more cars. So like, okay, I did 0:14:50.080 --> 0:14:51.960 the supper club, so let's talk about the supper club. 0:14:52.080 --> 0:14:53.200 Or if you look at the supper. 0:14:52.920 --> 0:14:53.720 Club, may you right? 0:14:54.040 --> 0:14:56.600 I got Lamb Shops broccoli and asparagus, right, but it's 0:14:56.600 --> 0:14:59.600 the same Lamb Shops that's where eggs and potatoes. 0:14:59.680 --> 0:15:03.120 At the runch. So I'm not selling anything else. If 0:15:03.160 --> 0:15:05.560 you don't buy that brunch, I'm gonna dim the lights down. 0:15:05.560 --> 0:15:06.320 You're gonna buy to night. 0:15:09.320 --> 0:15:11.760 Yeah, you know what I'm saying. It's like we have 0:15:11.880 --> 0:15:14.120 to understand what it's gonna take. So I think low 0:15:14.160 --> 0:15:18.200 overhead is key. I think bringing in partnerships, Creating partnerships 0:15:18.240 --> 0:15:21.680 is definitely key for black businesses. If you don't create partnerships, 0:15:21.680 --> 0:15:24.040 the days of being self employed and sitting in your 0:15:24.080 --> 0:15:25.880 house doing someone's taxes and think you're gonna be on 0:15:25.880 --> 0:15:26.560 a fortune five. 0:15:26.440 --> 0:15:27.040 Hundred, it's over with. 0:15:27.240 --> 0:15:31.560 Yeah, that's yourself partnership collaboration. A lot of times in. 0:15:31.560 --> 0:15:34.920 Our community we are so hesitant to work with each 0:15:34.960 --> 0:15:36.640 other because it's like I want to make it out. 0:15:36.680 --> 0:15:38.520 I want to make it out, not knowing that if 0:15:38.560 --> 0:15:40.760 we look across like that person trying to make it too. 0:15:41.160 --> 0:15:42.920 Yeah, like I told you, Like with the Supper Club, 0:15:42.960 --> 0:15:45.760 it's Randy Problay, who's a partner of mine, and Kevin Vaughan. 0:15:46.080 --> 0:15:49.280 These gentlemen come on and endoor the stresses of starting 0:15:49.320 --> 0:15:49.880 up something new. 0:15:49.920 --> 0:15:53.080 But I've gotten better and better at you so constantly 0:15:53.200 --> 0:15:55.640 challenging myself. Like when I built out the first restaurant 0:15:55.640 --> 0:15:57.440 ever six months, the second one was four months. I 0:15:57.520 --> 0:15:59.800 built out the Supper Club in forty days. I'm talking 0:15:59.800 --> 0:16:01.960 about we had no MENIU, we had nothing. We just 0:16:01.960 --> 0:16:03.280 had a general feeling them. 0:16:04.520 --> 0:16:06.760 This episode is brought to you by P and C Bank. 0:16:07.160 --> 0:16:09.920 A lot of people think podcasts about work are boring, 0:16:10.120 --> 0:16:13.960 and sure they definitely can be, but understanding of professionals 0:16:14.040 --> 0:16:17.320 routine shows us how they achieve their success little by little, 0:16:17.680 --> 0:16:21.320 day after day. It's like banking with P and C Bank. 0:16:21.800 --> 0:16:24.600 It might seem boring to save plan and make calculated 0:16:24.640 --> 0:16:27.720 decisions with your bank, but keeping your money. Boring is 0:16:27.760 --> 0:16:31.080 what helps you live or more happily fulfilled life. P 0:16:31.200 --> 0:16:36.040 and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly 0:16:36.080 --> 0:16:38.720 Boring since eighteen sixty five is a service mark of 0:16:38.760 --> 0:16:42.000 the PNC Financial Service Group, Inc. P and C Bank 0:16:42.400 --> 0:16:45.160 National Association Member FDIC. 0:16:47.720 --> 0:16:48.400 Ernest What's up? 0:16:48.480 --> 0:16:50.960 You ever walk into a small business and everything just 0:16:51.120 --> 0:16:54.280 works like the checkout is fast, the receipts are digital, 0:16:54.800 --> 0:16:57.800 tipping is a breeze, and you're out the door before 0:16:57.800 --> 0:17:01.960 the line even builds odds are they're using Square. We 0:17:02.120 --> 0:17:04.639 love supporting businesses that run on Square because it just 0:17:04.680 --> 0:17:07.920