1 00:00:00,080 --> 00:00:02,840 Speaker 1: Aba Fam, it's one of the best days of the week. 2 00:00:02,920 --> 00:00:06,040 Speaker 1: It is time for another Holiback Monday. This week we're 3 00:00:06,080 --> 00:00:09,520 Speaker 1: looking back at our episode with wealth strategist and author 4 00:00:09,600 --> 00:00:13,399 Speaker 1: doctor Pamela Jolly. Doctor Jolly. First of all, who doesn't 5 00:00:13,400 --> 00:00:16,040 Speaker 1: love someone called doctor Jolly amazing, So tune in if 6 00:00:16,079 --> 00:00:19,160 Speaker 1: you want advice on everything from how to hire right 7 00:00:19,239 --> 00:00:21,840 Speaker 1: for your family business to how to prepare your business 8 00:00:21,840 --> 00:00:24,000 Speaker 1: for the future, go ahead and give it a listen. 9 00:00:30,320 --> 00:00:37,000 Speaker 2: Hey, hey, hey, we're back. We're super Black today. As 10 00:00:37,040 --> 00:00:44,120 Speaker 2: per usual, we're Brown Ambition. Hey Mandra and special guests. 11 00:00:44,159 --> 00:00:49,040 Speaker 1: Hey, hey to hello to our special guest today, doctor 12 00:00:49,080 --> 00:00:51,880 Speaker 1: Pamela Jolly. I cannot wait to introduce you to y'all, 13 00:00:52,159 --> 00:00:54,400 Speaker 1: To you guys, to our ba Fam. I was actually 14 00:00:54,440 --> 00:00:56,440 Speaker 1: on a panel with doctor Jolly a few weeks ago 15 00:00:56,520 --> 00:00:58,800 Speaker 1: and afterward just wanted to know more. You know how 16 00:00:58,800 --> 00:01:00,920 Speaker 1: on a panel everyone gets like seven and a half 17 00:01:00,960 --> 00:01:03,760 Speaker 1: minutes to speak, but doctor Jolly seven and a half minutes. 18 00:01:03,760 --> 00:01:05,560 Speaker 1: I was like, I need more. Let me let me 19 00:01:06,360 --> 00:01:09,119 Speaker 1: make her talk to me some more. So invited her 20 00:01:09,120 --> 00:01:10,880 Speaker 1: to the show today and I cannot aways tell you 21 00:01:10,920 --> 00:01:12,160 Speaker 1: about her. So let me just give you a little 22 00:01:12,160 --> 00:01:13,959 Speaker 1: bit of a rundown, Doctor Jolly'll let you say hello, 23 00:01:14,360 --> 00:01:16,720 Speaker 1: but let's put some respect on your name and your experience. 24 00:01:16,920 --> 00:01:20,000 Speaker 1: Doctor Pamela Jolly y'all is a wealth strategist, a renowned 25 00:01:20,000 --> 00:01:23,880 Speaker 1: speaker and author committed to guiding men, women, business owners, 26 00:01:23,920 --> 00:01:28,160 Speaker 1: faith leaders, and young professionals toward building legacy their way. 27 00:01:28,360 --> 00:01:30,800 Speaker 1: She is a I mean, how many degrees I can't 28 00:01:30,800 --> 00:01:33,600 Speaker 1: even keep track. She's a graduate of Hampton University, the 29 00:01:33,640 --> 00:01:38,360 Speaker 1: Wharton School of Business, Boston University School of Theology, and 30 00:01:38,520 --> 00:01:43,880 Speaker 1: Graduate Theological Foundation. After building a successful career in finance 31 00:01:43,920 --> 00:01:46,880 Speaker 1: working for companies like Nations, Bake Accenture, and a private 32 00:01:46,880 --> 00:01:49,840 Speaker 1: equity firm she helped build called The Boy Partners. In 33 00:01:49,880 --> 00:01:53,320 Speaker 1: two thousand and four, Doctor Jolly launched Torch Enterprises, which 34 00:01:53,360 --> 00:01:56,720 Speaker 1: is her strategic investment firm that focuses on women and 35 00:01:56,800 --> 00:02:01,040 Speaker 1: minority owned businesses, and in twenty fifteen she launched The 36 00:02:01,200 --> 00:02:05,120 Speaker 1: Narrow Road, which is a methodology focused on educating anyone 37 00:02:05,160 --> 00:02:09,520 Speaker 1: wanting to build wealth via ownership and equity. Doctor Pamela Jolly, 38 00:02:09,600 --> 00:02:12,880 Speaker 1: Welcome to Brown Ambition. So tell us about Torch at 39 00:02:12,880 --> 00:02:15,560 Speaker 1: its Heart. What is Torch Enterprises and what do you 40 00:02:15,600 --> 00:02:16,720 Speaker 1: do as a wealth strategist. 41 00:02:17,280 --> 00:02:20,360 Speaker 3: Yeah, so great question. So torch stands for passing the 42 00:02:20,400 --> 00:02:23,280 Speaker 3: torch from one generation to the next to build legacy 43 00:02:23,320 --> 00:02:27,200 Speaker 3: wealth via ownership and increased equity. And so I started 44 00:02:27,200 --> 00:02:30,240 Speaker 3: Torch Hard to Believe twenty years ago based on something 45 00:02:30,280 --> 00:02:33,840 Speaker 3: that really frustrated me that relative to the contributions that 46 00:02:33,880 --> 00:02:37,520 Speaker 3: African Americans have made to America, we just didn't known enough. 47 00:02:38,040 --> 00:02:40,800 Speaker 3: We just didn't have enough wealth. And because I have 48 00:02:40,840 --> 00:02:43,440 Speaker 3: worked my entire career in financial services, I wanted more 49 00:02:43,440 --> 00:02:46,280 Speaker 3: of us to understand that we're not starting from nothing, 50 00:02:46,520 --> 00:02:49,480 Speaker 3: that our legacy is very valuable, and so how do 51 00:02:49,560 --> 00:02:53,400 Speaker 3: we really blend our belief that we will do well 52 00:02:53,600 --> 00:02:57,200 Speaker 3: with finance, business and strategy. So I raised capital and 53 00:02:57,280 --> 00:03:01,080 Speaker 3: awareness for African Americans and their African American businesses and 54 00:03:01,120 --> 00:03:06,520 Speaker 3: their communities. I work with large philanthropic organizations, national banks, 55 00:03:06,760 --> 00:03:10,760 Speaker 3: large organizations, as well as small businesses and communities. I 56 00:03:10,800 --> 00:03:13,280 Speaker 3: love what I do. It's been an amazing journey that 57 00:03:13,480 --> 00:03:17,840 Speaker 3: really started to shape itself post Katrina in New Orleans. 58 00:03:17,840 --> 00:03:20,200 Speaker 3: So I'm indebted to the city of New Orleans. Love 59 00:03:20,760 --> 00:03:23,240 Speaker 3: love New Orleans. But I've worked in over ninety three 60 00:03:23,240 --> 00:03:26,200 Speaker 3: cities across the country. So I love our community and 61 00:03:26,320 --> 00:03:29,000 Speaker 3: I see it as a business and I look forward 62 00:03:29,000 --> 00:03:32,359 Speaker 3: to elevating that standard with as many black people as possible. 63 00:03:32,840 --> 00:03:35,000 Speaker 2: She said, I love us for real. Okay, shout out 64 00:03:35,000 --> 00:03:39,720 Speaker 2: to money for real. For real. Well, I'm excited that 65 00:03:39,760 --> 00:03:41,680 Speaker 2: you're here because I know we're really going to like 66 00:03:42,200 --> 00:03:45,840 Speaker 2: leaning heavily on talking about business and what it looks 67 00:03:45,920 --> 00:03:49,080 Speaker 2: like to be a successful black business kind of what 68 00:03:49,120 --> 00:03:50,840 Speaker 2: are the mistakes that we're making that you see across 69 00:03:50,880 --> 00:03:54,680 Speaker 2: the board, and what we can do to minimize those mistakes, 70 00:03:54,680 --> 00:03:57,520 Speaker 2: get access to capital, and do what businesses are meant 71 00:03:57,520 --> 00:04:00,720 Speaker 2: to do, which is grow and pass along. Well super jazz, 72 00:04:00,760 --> 00:04:03,280 Speaker 2: because you know, Mandy and I are both business owners. 73 00:04:04,320 --> 00:04:05,480 Speaker 2: So I'm just excited you're here. 74 00:04:06,600 --> 00:04:09,960 Speaker 1: Awesome, grateful to be here both of you. And I'm curious, 75 00:04:10,000 --> 00:04:12,040 Speaker 1: like as one of the things you encounter. I mean, 76 00:04:12,040 --> 00:04:14,520 Speaker 1: obviously you work on the ground with black and brown 77 00:04:14,560 --> 00:04:19,359 Speaker 1: owned businesses quite often, and for me, as a newbie 78 00:04:19,360 --> 00:04:22,680 Speaker 1: business owner, I think sometimes I wonder if I'm not 79 00:04:22,720 --> 00:04:25,400 Speaker 1: thinking big enough with my business. You know, I just 80 00:04:25,400 --> 00:04:26,760 Speaker 1: want to make it through the first year. Make through 81 00:04:26,760 --> 00:04:29,400 Speaker 1: the first year, yah, And of course having listened to 82 00:04:29,480 --> 00:04:32,719 Speaker 1: Tiffany and had sort of a back back back seat 83 00:04:32,760 --> 00:04:37,000 Speaker 1: to watching her build multiple businesses over the past. I 84 00:04:37,040 --> 00:04:39,640 Speaker 1: don't know, in your decade we've known each other. It's 85 00:04:39,640 --> 00:04:42,240 Speaker 1: been a privilege. But sometimes I'm like, am I allowed 86 00:04:42,240 --> 00:04:44,520 Speaker 1: to think that big yet? And what do I have 87 00:04:44,640 --> 00:04:46,880 Speaker 1: to lose by not thinking big early? 88 00:04:47,680 --> 00:04:47,880 Speaker 3: Yeah? 89 00:04:47,920 --> 00:04:48,320 Speaker 1: What I mean? 90 00:04:48,880 --> 00:04:51,480 Speaker 3: Yeah? Definitely. Well, first of all, it is big for 91 00:04:51,560 --> 00:04:55,159 Speaker 3: you to have sustained a business for a year. You know, 92 00:04:55,200 --> 00:04:58,640 Speaker 3: the reality of small businesses and the tenure of them. 93 00:04:59,040 --> 00:05:01,520 Speaker 2: I did do that having commanded I didn't want to 94 00:05:01,520 --> 00:05:02,400 Speaker 2: put interrupt I was. 95 00:05:02,400 --> 00:05:05,880 Speaker 3: Like, I need you to take ownership of that, right 96 00:05:05,960 --> 00:05:09,000 Speaker 3: because the first year, you know, it's what I call 97 00:05:09,040 --> 00:05:11,839 Speaker 3: the idea phase. You know, you got an idea, But 98 00:05:12,600 --> 00:05:17,520 Speaker 3: business is a series of consistently increasing levels of opportunity, right, 99 00:05:17,600 --> 00:05:22,440 Speaker 3: So it's increasing relationships, it's increased knowledge gain, it's increasing 100 00:05:22,560 --> 00:05:25,000 Speaker 3: steps that have to be streamlined and organized. And so 101 00:05:25,080 --> 00:05:28,760 Speaker 3: that first year is really you teaching you. Like, am 102 00:05:28,760 --> 00:05:31,320 Speaker 3: I a business owner? I believe the call to entrepreneurship 103 00:05:31,360 --> 00:05:33,839 Speaker 3: is a call from God because it's a faith walk 104 00:05:34,040 --> 00:05:37,480 Speaker 3: in many ways, and then that first year it definitely is. 105 00:05:38,400 --> 00:05:40,160 Speaker 3: So I think that you know, when we think about 106 00:05:40,160 --> 00:05:43,880 Speaker 3: businesses one to three, you're really figuring it out. And 107 00:05:44,360 --> 00:05:47,840 Speaker 3: I think importance of seeing things big. Think about Stephen 108 00:05:47,839 --> 00:05:49,560 Speaker 3: Covey where he says, you know, begin with the end 109 00:05:49,600 --> 00:05:51,920 Speaker 3: of mind. You know, you got to focus on your 110 00:05:51,960 --> 00:05:54,320 Speaker 3: exit as soon as you start, Like, how do you 111 00:05:54,400 --> 00:05:56,719 Speaker 3: want to exit this business? Do you want it to 112 00:05:56,720 --> 00:05:59,240 Speaker 3: die with you? Eighty five percent of businesses or lifestyle 113 00:05:59,279 --> 00:06:01,479 Speaker 3: businesses or do you want to pass the torch to 114 00:06:01,520 --> 00:06:04,720 Speaker 3: the next generation? What is this really? You know, some 115 00:06:04,760 --> 00:06:07,880 Speaker 3: lifestyle businesses are for a specific phase and in that 116 00:06:07,960 --> 00:06:10,640 Speaker 3: specific phase of time, you know, then you learn and 117 00:06:10,720 --> 00:06:12,800 Speaker 3: I want to do something different. That's the other thing 118 00:06:12,800 --> 00:06:15,960 Speaker 3: that I would encourage emergent business owners as I call them. 119 00:06:16,279 --> 00:06:18,760 Speaker 3: Don't feel so locked in that you don't feel like 120 00:06:18,800 --> 00:06:22,320 Speaker 3: you can do anything else. There's a tremendous amount of opportunities, 121 00:06:22,600 --> 00:06:24,719 Speaker 3: but you've got to steward and manage your capacity. 122 00:06:25,400 --> 00:06:27,839 Speaker 2: No, that's really powerful because I so when I first 123 00:06:27,839 --> 00:06:31,240 Speaker 2: started my business and where I'm at year fourteen, I believe, 124 00:06:31,920 --> 00:06:35,280 Speaker 2: I know, and so it's from fourteen years I've made 125 00:06:35,320 --> 00:06:37,919 Speaker 2: probably just over thirty million dollars. And this gross obviously 126 00:06:37,960 --> 00:06:41,080 Speaker 2: because you know, I got thirty million. That's my bank account. 127 00:06:41,760 --> 00:06:46,440 Speaker 2: But you know, but I feel like with each iteration 128 00:06:47,200 --> 00:06:50,039 Speaker 2: I have gotten clear on the end in mind. At 129 00:06:50,040 --> 00:06:52,279 Speaker 2: the beginning, the budget Ee was like, can we pay 130 00:06:52,279 --> 00:06:55,440 Speaker 2: these bills? That was the point. And so I made 131 00:06:55,640 --> 00:06:57,640 Speaker 2: a business where I was the Sun, Moon and Stars 132 00:06:57,680 --> 00:06:59,960 Speaker 2: like many of us do, which is nothing wrong with it. 133 00:07:00,680 --> 00:07:04,560 Speaker 2: But I realized that, like, what if I don't want 134 00:07:04,560 --> 00:07:08,600 Speaker 2: to do Budgetista forever? And ever, how do I cuse 135 00:07:08,960 --> 00:07:12,000 Speaker 2: what I've created here to build an additional business where 136 00:07:12,040 --> 00:07:13,880 Speaker 2: I'm not the Sun winning Stars? And so I created 137 00:07:13,960 --> 00:07:17,320 Speaker 2: my online school literature Academy where I'm one of many 138 00:07:17,560 --> 00:07:21,640 Speaker 2: financial educators there, which is great. So it's not heavily 139 00:07:21,680 --> 00:07:25,520 Speaker 2: tied to the Budgetista and all the Budgetista is a 140 00:07:25,560 --> 00:07:27,680 Speaker 2: die with me business, you know, like I just did 141 00:07:27,680 --> 00:07:30,480 Speaker 2: my will and in it it says something happens to me. 142 00:07:31,440 --> 00:07:33,400 Speaker 2: My sisters are instructed to just sell it and take 143 00:07:33,440 --> 00:07:35,480 Speaker 2: the proceeds and split it four ways, because what you're 144 00:07:35,480 --> 00:07:37,760 Speaker 2: going to do, you're gonna be Budgetesta sys, you know. 145 00:07:38,240 --> 00:07:39,960 Speaker 2: And so but then my second business, I have a 146 00:07:39,960 --> 00:07:44,200 Speaker 2: business partner, but I'm a majority owner. And what that 147 00:07:44,240 --> 00:07:48,080 Speaker 2: looks like is that it can continue without me for 148 00:07:48,120 --> 00:07:50,880 Speaker 2: the most part, where I have almost pulled myself almost 149 00:07:50,880 --> 00:07:53,240 Speaker 2: out of it. I'm probably like eighty percent gone, like 150 00:07:53,320 --> 00:07:55,760 Speaker 2: whereas if they have a CEO there, that's not me anymore. 151 00:07:56,480 --> 00:07:59,200 Speaker 2: My face is largely missing, although we still use budgetesta 152 00:07:59,240 --> 00:08:01,080 Speaker 2: to do some promos stuff, but even that, we are 153 00:08:01,680 --> 00:08:03,600 Speaker 2: slowly short and chipping away. And I would say, by 154 00:08:03,640 --> 00:08:05,840 Speaker 2: the end of next year, you won't see me at all. 155 00:08:06,600 --> 00:08:09,000 Speaker 2: And that's a business where something happens to me. You know, 156 00:08:09,080 --> 00:08:12,360 Speaker 2: my shares go to my sisters as well. They're not 157 00:08:12,440 --> 00:08:13,239 Speaker 2: voting shares. 158 00:08:13,320 --> 00:08:13,480 Speaker 1: You know. 159 00:08:13,560 --> 00:08:16,520 Speaker 2: My business partner also has the ability to buy them 160 00:08:16,520 --> 00:08:19,160 Speaker 2: out should he decide to do so, or if he 161 00:08:19,160 --> 00:08:21,360 Speaker 2: doesn't buy them out, they just continue to you know, 162 00:08:21,440 --> 00:08:25,280 Speaker 2: get their peace, you know. But now this third bus, 163 00:08:25,320 --> 00:08:28,680 Speaker 2: now I've started other smaller businesses in between then, but 164 00:08:29,040 --> 00:08:31,520 Speaker 2: this third business that I'm doing now, I'm very clear, 165 00:08:31,640 --> 00:08:33,320 Speaker 2: like for the first time, I'm really clear at the 166 00:08:33,400 --> 00:08:35,280 Speaker 2: end in mind is I'm building it to sell within 167 00:08:35,320 --> 00:08:38,880 Speaker 2: five years, like, and I'm really clear on that. And 168 00:08:38,920 --> 00:08:40,760 Speaker 2: so can you share with us kind of like how 169 00:08:40,800 --> 00:08:43,040 Speaker 2: can especially when you're first starting out, how can you 170 00:08:43,040 --> 00:08:44,400 Speaker 2: get clear with the end in mind when you're like 171 00:08:44,440 --> 00:08:45,679 Speaker 2: I'm just trying to pay bills. 172 00:08:46,280 --> 00:08:49,000 Speaker 3: Yeah, well get clear about how you're going to pay 173 00:08:49,000 --> 00:08:52,320 Speaker 3: the bills, right, So, marry yourself to your market, marry 174 00:08:52,360 --> 00:08:55,480 Speaker 3: yourself to your target market. Make sure you're building something 175 00:08:55,480 --> 00:08:58,320 Speaker 3: that you love. Make sure you recognize what you do 176 00:08:58,400 --> 00:09:01,240 Speaker 3: best and what you don't do best. Start to elevate 177 00:09:01,240 --> 00:09:04,600 Speaker 3: your trust levels so that you can hire appropriately, you know, 178 00:09:04,920 --> 00:09:09,200 Speaker 3: really getting very focused. Seventy one percent of hiring decisions 179 00:09:09,240 --> 00:09:12,280 Speaker 3: in small businesses, our mistakes, those are very call not 180 00:09:12,440 --> 00:09:16,199 Speaker 3: just them zero. So yes, so it's. 181 00:09:16,040 --> 00:09:18,480 Speaker 1: Not that because we usually go to our family and 182 00:09:18,520 --> 00:09:19,319 Speaker 1: friends first, because. 183 00:09:19,160 --> 00:09:21,040 Speaker 2: First of all, we're about ninety percent over here. 184 00:09:23,040 --> 00:09:26,280 Speaker 3: Well, here's what I believe based from my experience. I 185 00:09:26,320 --> 00:09:28,920 Speaker 3: think it has largely about the blind spots that we 186 00:09:29,000 --> 00:09:31,360 Speaker 3: have about what we really need. Yeah, you know, so 187 00:09:31,440 --> 00:09:33,720 Speaker 3: I really think that people should take some time to 188 00:09:33,800 --> 00:09:37,679 Speaker 3: write out, you know, what is that job description and 189 00:09:37,760 --> 00:09:40,600 Speaker 3: how does it really impact the business. The other thing 190 00:09:40,679 --> 00:09:44,800 Speaker 3: is you know, looking at you know, employment of other people. Both, yes, 191 00:09:44,840 --> 00:09:48,080 Speaker 3: it is an expense, but it's also an investment. It's 192 00:09:48,160 --> 00:09:51,800 Speaker 3: leadership and so it's building relationships. So is this just 193 00:09:51,840 --> 00:09:54,520 Speaker 3: a transactional job where they if they show up, praise God. 194 00:09:54,520 --> 00:09:56,240 Speaker 3: If they do what they tell you, praise God? Or 195 00:09:56,600 --> 00:09:58,880 Speaker 3: is it really you want someone to think with you, 196 00:09:58,880 --> 00:10:01,520 Speaker 3: you know, build with you, with you. So it's really 197 00:10:01,520 --> 00:10:04,680 Speaker 3: getting very clear about that. But I think in the beginning, 198 00:10:04,720 --> 00:10:06,600 Speaker 3: you know, when you don't have enough money, when we 199 00:10:06,600 --> 00:10:08,600 Speaker 3: said we hire our friends and family because it's cheap. 200 00:10:09,120 --> 00:10:11,679 Speaker 3: I think getting very clear about what you can do 201 00:10:11,720 --> 00:10:14,280 Speaker 3: by yourself and the capacity in which you can do it. 202 00:10:14,800 --> 00:10:17,800 Speaker 3: Some folks get so married to such a large vision 203 00:10:17,840 --> 00:10:20,480 Speaker 3: at the end that they kind of discount what they're 204 00:10:20,520 --> 00:10:22,960 Speaker 3: able to do in the beginning. You know, what can 205 00:10:23,040 --> 00:10:26,680 Speaker 3: you actually do with the time that you have? So 206 00:10:26,760 --> 00:10:29,520 Speaker 3: I think it's really important to be very focused and 207 00:10:29,640 --> 00:10:31,960 Speaker 3: very clear. In my work with the Narrow Road, I 208 00:10:32,000 --> 00:10:34,880 Speaker 3: created a predictive modeling component. One of my last jobs 209 00:10:35,200 --> 00:10:38,440 Speaker 3: in corporate America was a market research strategist, so learn 210 00:10:38,480 --> 00:10:40,960 Speaker 3: how to create different algorithms and typing tools and the 211 00:10:41,000 --> 00:10:44,160 Speaker 3: importance of segmenting the market. And what I created was 212 00:10:44,200 --> 00:10:47,840 Speaker 3: a predictive modeling component. So I type people and once 213 00:10:47,880 --> 00:10:51,000 Speaker 3: you understand your wealth identity, we're able to get really 214 00:10:51,080 --> 00:10:53,640 Speaker 3: clear about how do you articulate what you do and 215 00:10:53,679 --> 00:10:57,600 Speaker 3: what you need in order to successfully build the relationships 216 00:10:57,600 --> 00:10:59,920 Speaker 3: required for your business to be successful. 217 00:11:00,160 --> 00:11:04,720 Speaker 2: Somebody to get a hold of that, ask it for 218 00:11:04,760 --> 00:11:06,360 Speaker 2: a friend. 219 00:11:08,720 --> 00:11:12,040 Speaker 3: So my first book was written eight years ago, right 220 00:11:12,080 --> 00:11:15,120 Speaker 3: after my dad passed away, and a larger publisher, so 221 00:11:15,240 --> 00:11:17,560 Speaker 3: I publish it with my own publishing company and then 222 00:11:17,600 --> 00:11:21,160 Speaker 3: a larger publisher, Worthy Publishing that's run by Marva Allen, 223 00:11:21,160 --> 00:11:25,000 Speaker 3: who owns Human Bookstore. She approached from the pandemic. I 224 00:11:25,040 --> 00:11:28,040 Speaker 3: love her too. She's amazing and she actually was one 225 00:11:28,120 --> 00:11:31,080 Speaker 3: of my first clients when I launched Torch in New York, 226 00:11:31,360 --> 00:11:34,360 Speaker 3: and so was so excited. Well, she took the book 227 00:11:34,520 --> 00:11:38,680 Speaker 3: and we reorganized it and it's coming out September twelfth. 228 00:11:39,120 --> 00:11:42,599 Speaker 3: Oh oh, concolation, thank you. And so this is the 229 00:11:43,120 --> 00:11:46,199 Speaker 3: second edition of The Narrow Road, and inside of it 230 00:11:46,240 --> 00:11:49,360 Speaker 3: is the Wealth Identity Typing Tool. And then I have 231 00:11:49,600 --> 00:11:52,360 Speaker 3: a wealth Finishing school that's launching in November where I 232 00:11:52,440 --> 00:11:55,400 Speaker 3: really help people own their identity and really build wealth 233 00:11:55,440 --> 00:11:57,920 Speaker 3: their way so they can build the right relationships with 234 00:11:57,920 --> 00:11:59,800 Speaker 3: the financial professionals. Because that's what I wanted to say 235 00:11:59,840 --> 00:12:02,480 Speaker 3: to one, I'm so proud of your trajectory and what 236 00:12:02,520 --> 00:12:05,319 Speaker 3: you're doing. But even hearing you. You can tell you've 237 00:12:05,360 --> 00:12:09,520 Speaker 3: spoken to professionals that you trust and you understand they've 238 00:12:09,520 --> 00:12:13,520 Speaker 3: given you advice, you've applied that advice, you've gotten their results, 239 00:12:13,600 --> 00:12:15,960 Speaker 3: and you're moving forward. So that's how you do it. 240 00:12:16,040 --> 00:12:19,199 Speaker 3: You basically start with the solid foundation and you build, 241 00:12:19,240 --> 00:12:20,360 Speaker 3: grow and expand from there. 242 00:12:20,440 --> 00:12:23,000 Speaker 1: Okaba fan, we will be right back with more of 243 00:12:23,000 --> 00:12:26,400 Speaker 1: our conversation on legacy building as black business owners with 244 00:12:26,440 --> 00:12:27,880 Speaker 1: doctor Pamela Jolly. 245 00:12:29,040 --> 00:12:31,760 Speaker 2: And we're a back more with doctor Jolly. 246 00:12:32,440 --> 00:12:35,679 Speaker 1: I'm curious at what point because I know Tiffany and 247 00:12:35,720 --> 00:12:37,679 Speaker 1: I talked about you know, the budget needs to for example, 248 00:12:37,720 --> 00:12:40,760 Speaker 1: and you haven't taken any funding Tiffany throughout your ever 249 00:12:40,960 --> 00:12:43,480 Speaker 1: your business is right, of course, I haven't taken any funding. 250 00:12:43,480 --> 00:12:45,520 Speaker 1: You have the occasional friend who's like, I want to invest, 251 00:12:45,520 --> 00:12:47,120 Speaker 1: and I'm like, in what I want to buy me 252 00:12:47,160 --> 00:12:51,160 Speaker 1: a better webcam? I don't know. But taking on investments 253 00:12:51,240 --> 00:12:53,320 Speaker 1: and when do you do you work at all with that? 254 00:12:53,480 --> 00:12:55,920 Speaker 1: You know that piece of it? When do I identifying 255 00:12:55,960 --> 00:12:59,120 Speaker 1: when you need outside capital and when it can be 256 00:13:00,200 --> 00:13:05,199 Speaker 1: beneficial versus actually becoming something that can be cumbersome or 257 00:13:05,240 --> 00:13:06,400 Speaker 1: like be an issue down the road. 258 00:13:06,920 --> 00:13:09,240 Speaker 3: Yeah, So in my book, what I talk about is 259 00:13:09,280 --> 00:13:13,800 Speaker 3: there's four capital relationships. The least intimate relationship with capital 260 00:13:13,840 --> 00:13:17,600 Speaker 3: is transaction, right, So literally it's all a lot of 261 00:13:17,600 --> 00:13:19,480 Speaker 3: hard work. It does have equity in it, but it's 262 00:13:19,520 --> 00:13:23,120 Speaker 3: sweat equity and you work extremely hard. That next one 263 00:13:23,160 --> 00:13:25,040 Speaker 3: is a joint venture, and that's when you bring on 264 00:13:25,120 --> 00:13:27,760 Speaker 3: that friends and family who can support you where you're 265 00:13:27,760 --> 00:13:30,480 Speaker 3: a week now, whether they do it financially. My two 266 00:13:30,520 --> 00:13:33,760 Speaker 3: investors and first two investors in my company were my grandmothers. 267 00:13:34,200 --> 00:13:36,440 Speaker 3: And when black women that you don't expect to be 268 00:13:36,480 --> 00:13:38,960 Speaker 3: able to write checks write you checks, you get cash 269 00:13:39,000 --> 00:13:42,319 Speaker 3: flow positive and profitable a lot faster than others might try. 270 00:13:42,880 --> 00:13:46,000 Speaker 3: So I'm so grateful that it was my grandmothers who 271 00:13:46,000 --> 00:13:49,680 Speaker 3: believed in me that invested That next level of capital 272 00:13:49,960 --> 00:13:53,200 Speaker 3: is where growth capital. Now, growth capital can be either 273 00:13:53,280 --> 00:13:57,160 Speaker 3: debt or equity, and I want people to understand the difference. 274 00:13:57,480 --> 00:14:00,800 Speaker 3: You know, debt has rules and regulation. So the financial 275 00:14:00,840 --> 00:14:04,640 Speaker 3: services industry is the highest regulated industry in the country, 276 00:14:04,960 --> 00:14:06,800 Speaker 3: So they can't give you money because they like you. 277 00:14:07,480 --> 00:14:09,520 Speaker 3: They have to give you money because you fit a 278 00:14:09,520 --> 00:14:12,440 Speaker 3: certain criteria. That's a good risk for them to take 279 00:14:12,760 --> 00:14:15,720 Speaker 3: to deploy capital for you. Now there's different types of 280 00:14:15,720 --> 00:14:18,000 Speaker 3: debt capital that you can get. And during the pandemic, 281 00:14:18,360 --> 00:14:20,400 Speaker 3: and so many things happened in the pandemic as it 282 00:14:20,440 --> 00:14:23,960 Speaker 3: relates to minority owned businesses, people started to realize that 283 00:14:24,000 --> 00:14:26,680 Speaker 3: many minority own businesses did not have a relationship with 284 00:14:26,720 --> 00:14:30,440 Speaker 3: a financial institution that they trusted or understood. A tremendous 285 00:14:30,440 --> 00:14:34,120 Speaker 3: amount of capital was deployed to CDFIs who across the 286 00:14:34,120 --> 00:14:36,960 Speaker 3: country are cash flow lenders. But that means that you've 287 00:14:37,000 --> 00:14:39,840 Speaker 3: got to have positive cash flow. That means that you 288 00:14:39,920 --> 00:14:42,720 Speaker 3: have to understand what your operating budget is, and what 289 00:14:42,880 --> 00:14:45,760 Speaker 3: is the deficit in your operating budget, and what would 290 00:14:45,800 --> 00:14:48,040 Speaker 3: it take for you to build up the working capital level. 291 00:14:48,560 --> 00:14:52,040 Speaker 3: And so then the next level is equity. From my perspective, now, 292 00:14:52,080 --> 00:14:55,400 Speaker 3: equity is the most intimate relationship you can have in 293 00:14:55,480 --> 00:14:58,400 Speaker 3: terms of capital. Equity means that you no longer can 294 00:14:58,400 --> 00:15:00,960 Speaker 3: do everything you want to do. You've got to align 295 00:15:01,040 --> 00:15:03,680 Speaker 3: your vision with those who are investing in you. The 296 00:15:03,760 --> 00:15:06,160 Speaker 3: outcome that they see might be different than the outcome 297 00:15:06,160 --> 00:15:08,960 Speaker 3: that you see. It also might be further down the 298 00:15:09,040 --> 00:15:11,440 Speaker 3: road that you can afford to look and may or 299 00:15:11,440 --> 00:15:15,520 Speaker 3: may not include you right. Equity requires an exit, a 300 00:15:15,600 --> 00:15:18,720 Speaker 3: defined exit in a specific period of time, with a 301 00:15:18,760 --> 00:15:22,520 Speaker 3: specific return on investment, and so oftentimes some of us 302 00:15:22,640 --> 00:15:25,280 Speaker 3: like to jump in skip steps straight to equity. 303 00:15:25,800 --> 00:15:26,040 Speaker 2: You know. 304 00:15:26,200 --> 00:15:28,680 Speaker 3: One of the things that I want people to think 305 00:15:28,680 --> 00:15:31,040 Speaker 3: about is if you have pre revenue, right, you are 306 00:15:31,040 --> 00:15:33,360 Speaker 3: a pre revenue company and you're looking for equity. There 307 00:15:33,360 --> 00:15:35,680 Speaker 3: are some industries where you do need to raise that 308 00:15:35,720 --> 00:15:38,920 Speaker 3: type of money, But Tiffany and Mandy, you are the 309 00:15:39,240 --> 00:15:44,200 Speaker 3: earn your way right. There's there's earners and there's owners. 310 00:15:44,480 --> 00:15:47,600 Speaker 3: But these earners who they earn their way. Some people 311 00:15:47,600 --> 00:15:50,720 Speaker 3: call it bootstrap. I call it reality. You know, I've 312 00:15:50,760 --> 00:15:53,800 Speaker 3: never raised capital outside of my grand My grandparents and 313 00:15:53,960 --> 00:15:56,640 Speaker 3: my best friend's parents invested in me in the beginning. 314 00:15:56,800 --> 00:15:59,480 Speaker 3: After that, I was able to continue to self invest 315 00:15:59,520 --> 00:16:01,480 Speaker 3: in my enter price to be able to build, grow 316 00:16:01,520 --> 00:16:04,720 Speaker 3: and expand it amazing. But ownership was important to me, 317 00:16:05,200 --> 00:16:07,800 Speaker 3: and passing the torch was important to me. And so 318 00:16:08,080 --> 00:16:10,320 Speaker 3: once again, you've got to get clear about your end. 319 00:16:10,360 --> 00:16:13,600 Speaker 3: What's really important to you is equity capital back not 320 00:16:13,720 --> 00:16:17,240 Speaker 3: at all. Equity capital is amazing, but it's a different 321 00:16:17,360 --> 00:16:20,680 Speaker 3: type of relationship that you have with others around the 322 00:16:20,760 --> 00:16:22,080 Speaker 3: vision for your enterprise. 323 00:16:22,720 --> 00:16:25,200 Speaker 1: So you see them as sorts of like stepping stones, 324 00:16:25,480 --> 00:16:28,520 Speaker 1: you know, starting smaller and then maybe like you want 325 00:16:28,560 --> 00:16:31,040 Speaker 1: to maybe start with like self funding a little bit 326 00:16:31,120 --> 00:16:33,920 Speaker 1: and then seek out like a friends and family around 327 00:16:33,920 --> 00:16:35,760 Speaker 1: of fundraising. I remember when we. 328 00:16:36,160 --> 00:16:38,520 Speaker 3: Yeah, So here's what I'll tell you because it dilutes you. 329 00:16:38,760 --> 00:16:38,960 Speaker 2: Right. 330 00:16:39,000 --> 00:16:40,920 Speaker 3: So if you in the beginning memory we talked about 331 00:16:40,960 --> 00:16:44,080 Speaker 3: the idea stage of business. When you're in the beginning 332 00:16:44,080 --> 00:16:47,120 Speaker 3: stages of trying to figure it out and you raise equity, 333 00:16:47,200 --> 00:16:50,200 Speaker 3: they're not investing in the idea. They're investing in that 334 00:16:50,280 --> 00:16:53,720 Speaker 3: idea maturing to exit. And so you might say, well, 335 00:16:53,760 --> 00:16:56,760 Speaker 3: I want to pivot. Well, if the business is doing well, 336 00:16:56,800 --> 00:16:59,600 Speaker 3: they're going to say why unless you can prove the 337 00:16:59,640 --> 00:17:03,360 Speaker 3: business case all over again. And so it's important for 338 00:17:03,400 --> 00:17:06,840 Speaker 3: you to have the cadence of your capital with the 339 00:17:06,880 --> 00:17:08,760 Speaker 3: cadence of your business. 340 00:17:09,320 --> 00:17:10,760 Speaker 2: It's one of the reasons why not that I was 341 00:17:10,760 --> 00:17:12,800 Speaker 2: ever offered because you know, a black woman, But it's 342 00:17:12,840 --> 00:17:14,200 Speaker 2: one of the reasons why I was like, I don't 343 00:17:14,240 --> 00:17:17,200 Speaker 2: want to take any outside financial I mean aside from 344 00:17:17,200 --> 00:17:21,679 Speaker 2: like if family and friends wanted to invest, but a 345 00:17:21,720 --> 00:17:25,320 Speaker 2: friend of mine just sold his blog for you know, 346 00:17:25,400 --> 00:17:29,240 Speaker 2: eight figures and I suspect close to maybe like forty 347 00:17:29,280 --> 00:17:31,080 Speaker 2: or fifty million dollars. And he was like, I know 348 00:17:31,119 --> 00:17:35,840 Speaker 2: they're beating down your door, Tiffany. I'm like, now, despite 349 00:17:35,960 --> 00:17:38,640 Speaker 2: all the success, despite that, we you know, we've only 350 00:17:38,680 --> 00:17:42,160 Speaker 2: had profitable years, some years more certain than others. I mean, 351 00:17:42,160 --> 00:17:45,000 Speaker 2: now the Budgetista is like rocking and rolling. Like I 352 00:17:45,000 --> 00:17:47,760 Speaker 2: was talked to my CFO the other day. She was like, Tiffany, 353 00:17:47,840 --> 00:17:51,080 Speaker 2: because I have not focused on budget Most of my 354 00:17:51,119 --> 00:17:53,320 Speaker 2: focus has been the Literature Academy for the last six 355 00:17:53,400 --> 00:17:55,160 Speaker 2: or seven years when I opened it because it needed 356 00:17:55,240 --> 00:17:57,840 Speaker 2: just a lot, and so the budget NISTA was like 357 00:17:58,000 --> 00:17:59,840 Speaker 2: kind of on the back barner and it just made 358 00:18:00,720 --> 00:18:03,080 Speaker 2: because it was a solid business that made money connect 359 00:18:03,160 --> 00:18:05,639 Speaker 2: what I call kind of like accidentally. But now that 360 00:18:06,320 --> 00:18:09,479 Speaker 2: I'm no longer the CFO of CEO of that business, 361 00:18:09,560 --> 00:18:11,920 Speaker 2: I focused on the budget NISA, and we have been 362 00:18:11,960 --> 00:18:15,679 Speaker 2: slaying our profit margin to the point where she's like, 363 00:18:15,680 --> 00:18:17,560 Speaker 2: we need to spend more. I'm like, oh, what seventy 364 00:18:17,680 --> 00:18:22,040 Speaker 2: nine percent? Like we knew that just we have doubled. 365 00:18:22,119 --> 00:18:23,720 Speaker 2: I mean I told her in the beginning of the year, 366 00:18:23,760 --> 00:18:25,320 Speaker 2: I said Okay, this is what I want to make 367 00:18:25,880 --> 00:18:28,359 Speaker 2: by the end of the year, and we're already there 368 00:18:28,440 --> 00:18:31,160 Speaker 2: plus some and I was like, all right, some new goals. 369 00:18:33,000 --> 00:18:36,520 Speaker 2: And so I guess my question is it's like, because 370 00:18:36,520 --> 00:18:39,520 Speaker 2: now I'm in this place in space where I want 371 00:18:39,520 --> 00:18:42,639 Speaker 2: to do less, so I really want and I'm not 372 00:18:42,640 --> 00:18:44,840 Speaker 2: gonna lie. When I heard that he had sold his business, 373 00:18:44,880 --> 00:18:47,200 Speaker 2: I got a little salty because I was just like, well, 374 00:18:47,200 --> 00:18:50,680 Speaker 2: why not me? Why not me? With all that I've 375 00:18:50,680 --> 00:18:53,240 Speaker 2: built and grown? Why not me? And I said, well, Tiffany, 376 00:18:53,240 --> 00:18:56,280 Speaker 2: have you intended it to your point doctor Jolly? And 377 00:18:56,320 --> 00:18:58,240 Speaker 2: I had not. I don't want to sell Budgetista because 378 00:18:58,240 --> 00:18:59,399 Speaker 2: I'm not going to lie, he asked me. He's like, 379 00:18:59,440 --> 00:19:00,840 Speaker 2: if you want, I can get budgets are ready to 380 00:19:00,880 --> 00:19:03,600 Speaker 2: sell in sixteen months. And I was like, no, because 381 00:19:03,600 --> 00:19:05,919 Speaker 2: it's still something that I really enjoyed doing. So instead, 382 00:19:05,920 --> 00:19:09,480 Speaker 2: I'm building something else that probably take about five years, 383 00:19:09,680 --> 00:19:15,200 Speaker 2: I'm estimating. But because I just it feels very disheartening 384 00:19:15,520 --> 00:19:18,080 Speaker 2: that I hear people who are not doing nearly as 385 00:19:18,200 --> 00:19:20,920 Speaker 2: much as what you know black and brown women are 386 00:19:20,960 --> 00:19:23,879 Speaker 2: doing that don't get those same opportunities. It's just really frustrating. 387 00:19:24,400 --> 00:19:26,919 Speaker 3: Well, I hear you, Tiffany, and if you would allow 388 00:19:27,040 --> 00:19:30,719 Speaker 3: me to kind of go deeper into that for a second. 389 00:19:30,880 --> 00:19:33,960 Speaker 3: I mean again, I said that equity is the most 390 00:19:33,960 --> 00:19:37,680 Speaker 3: intimate relationship that you can have. But also as black 391 00:19:37,680 --> 00:19:41,439 Speaker 3: and brown individuals, particularly African Americans. You know my research, 392 00:19:41,480 --> 00:19:43,119 Speaker 3: what I found is that we're the only people in 393 00:19:43,160 --> 00:19:45,760 Speaker 3: America who were first capital before we ever made capital, 394 00:19:46,560 --> 00:19:49,720 Speaker 3: and so we can't help but look at business as personal. 395 00:19:50,440 --> 00:19:53,199 Speaker 3: And so I hear you, and I've read your books 396 00:19:53,200 --> 00:19:56,119 Speaker 3: and I've also listened to you from the beginning. Budgeinista 397 00:19:56,480 --> 00:19:59,520 Speaker 3: is a heartbrand. From my perspective, you care about your people, 398 00:19:59,600 --> 00:20:02,240 Speaker 3: you care about what you offered. It's hard to sell that. 399 00:20:03,080 --> 00:20:05,520 Speaker 3: And the other thing is that when people don't understand 400 00:20:05,560 --> 00:20:09,320 Speaker 3: our hearts. You know, black women are so powerful in 401 00:20:09,359 --> 00:20:11,879 Speaker 3: their own right, but oftentimes we don't toot our own 402 00:20:11,920 --> 00:20:14,399 Speaker 3: homewns because we're too busy doing what needs to be 403 00:20:14,440 --> 00:20:16,000 Speaker 3: done to be able to move things that we care 404 00:20:16,040 --> 00:20:20,640 Speaker 3: about forward. And so as a result, it's about relationship. 405 00:20:21,040 --> 00:20:23,560 Speaker 3: I'm not saying that there isn't any bias in the marketplace, 406 00:20:23,560 --> 00:20:26,639 Speaker 3: but I am saying that as it relates to investing 407 00:20:26,800 --> 00:20:30,280 Speaker 3: in black women, own brands if you will. It's still 408 00:20:30,320 --> 00:20:34,560 Speaker 3: uncharted territory. We're still very much at the emergent stages 409 00:20:34,720 --> 00:20:37,560 Speaker 3: of building business relationships to be able to do so. 410 00:20:38,280 --> 00:20:40,800 Speaker 3: And you said it yourself, if you really wanted to 411 00:20:40,880 --> 00:20:44,520 Speaker 3: do it, you could, right. But the beautiful thing about 412 00:20:44,560 --> 00:20:47,080 Speaker 3: it is you have a choice. Wealth is a choice. 413 00:20:47,359 --> 00:20:49,719 Speaker 3: You're able to choose how you build wealth with the 414 00:20:49,760 --> 00:20:52,440 Speaker 3: assets that you have been able to build and grow 415 00:20:52,480 --> 00:20:55,960 Speaker 3: and expand. So the other thing about with a Budganista brand, 416 00:20:56,000 --> 00:20:57,560 Speaker 3: I mean, if someone bought it, they might have a 417 00:20:57,560 --> 00:20:59,600 Speaker 3: different vision, and all of a sudden, you see yourself 418 00:21:00,040 --> 00:21:03,040 Speaker 3: all over the place, not portraying the true authentic. 419 00:21:02,640 --> 00:21:03,320 Speaker 2: Selling cult for you. 420 00:21:03,400 --> 00:21:08,360 Speaker 1: Five Yes, I was thinking like a prepaid debit card. 421 00:21:08,840 --> 00:21:14,240 Speaker 2: Oh girl. I told him no to Budgetista. Although he 422 00:21:14,359 --> 00:21:16,160 Speaker 2: was like, I think you can get this amount of money, 423 00:21:16,160 --> 00:21:18,560 Speaker 2: I was like, yeah no, but so I do have 424 00:21:18,720 --> 00:21:21,000 Speaker 2: like this other I bought a company a couple of 425 00:21:21,359 --> 00:21:24,960 Speaker 2: years ago and I've been sitting on it and I've 426 00:21:25,000 --> 00:21:26,760 Speaker 2: just been trying to figure out what to do with it, 427 00:21:26,840 --> 00:21:28,760 Speaker 2: and I thought, you know what, this would actually be 428 00:21:28,880 --> 00:21:32,800 Speaker 2: really great. So I'm working on now, like and to 429 00:21:32,880 --> 00:21:34,960 Speaker 2: your point, building relationship, I just had a really great 430 00:21:35,040 --> 00:21:40,000 Speaker 2: chat with a vice president of a huge financial organization 431 00:21:40,000 --> 00:21:41,840 Speaker 2: that I've known for a number of years, just to 432 00:21:42,040 --> 00:21:45,240 Speaker 2: ask what would you need this to be in order 433 00:21:45,280 --> 00:21:48,080 Speaker 2: for this type of company to be interested. And so 434 00:21:48,119 --> 00:21:50,679 Speaker 2: I'm starting to have those conversations and realizing, oh, I 435 00:21:50,760 --> 00:21:52,600 Speaker 2: need those type of relationships to ask because I'm not 436 00:21:52,600 --> 00:21:54,560 Speaker 2: going to build willy nilly. If I'm going to build 437 00:21:54,600 --> 00:21:57,800 Speaker 2: this new company like and sell it, then I need 438 00:21:57,840 --> 00:22:02,520 Speaker 2: to know who would buy and why and what does 439 00:22:02,520 --> 00:22:04,400 Speaker 2: that look like. So I'm very clear about what I'm 440 00:22:04,400 --> 00:22:07,399 Speaker 2: building because I was just like, Okay, I do want that. 441 00:22:07,480 --> 00:22:09,959 Speaker 2: I want to have an exit, not even for the money, 442 00:22:10,200 --> 00:22:12,639 Speaker 2: but for the Can you do it, Tiffany? Because everything 443 00:22:12,640 --> 00:22:15,000 Speaker 2: I've set my mind to has happened, and this would 444 00:22:15,040 --> 00:22:20,159 Speaker 2: be the biggest external expression of doing something, and so 445 00:22:20,200 --> 00:22:22,480 Speaker 2: I'm just really curious as to can I do it? 446 00:22:22,800 --> 00:22:24,840 Speaker 2: And if I can, then I can bring that information 447 00:22:24,920 --> 00:22:27,120 Speaker 2: back to women who look like me who don't typically 448 00:22:27,119 --> 00:22:28,680 Speaker 2: have access to that type of information. 449 00:22:29,359 --> 00:22:31,240 Speaker 3: I love it, and you can do it, and you 450 00:22:31,320 --> 00:22:34,840 Speaker 3: will do it. And I think what's really powerful about 451 00:22:34,840 --> 00:22:37,240 Speaker 3: what you're saying is that you have the end already 452 00:22:37,280 --> 00:22:42,280 Speaker 3: in mind. So you're building the vision not solely to yourself, right, 453 00:22:42,359 --> 00:22:45,040 Speaker 3: You're allowing people to weigh in and influence that vision 454 00:22:45,600 --> 00:22:47,840 Speaker 3: so that it is palatable to the marketplace. 455 00:22:49,720 --> 00:22:51,679 Speaker 1: I feel like I'm still in that. I'm glad you 456 00:22:51,720 --> 00:22:53,440 Speaker 1: gave me three years, said one to three years, or 457 00:22:53,480 --> 00:22:55,439 Speaker 1: in that id phase, I'm like, I don't know what 458 00:22:55,520 --> 00:22:58,760 Speaker 1: the end looks like. I'm feeling good, but I'm of 459 00:22:58,800 --> 00:23:02,639 Speaker 1: course I'm so much earlier in the process that for me, 460 00:23:02,880 --> 00:23:04,840 Speaker 1: it's harder to come to that end. And maybe I'll 461 00:23:04,840 --> 00:23:07,000 Speaker 1: come to a place where it's like, well, this is 462 00:23:07,000 --> 00:23:10,000 Speaker 1: the life. And I hadn't heard that term before. Lifestyle business, 463 00:23:10,240 --> 00:23:13,080 Speaker 1: you know, made money is made money. It's like budgeties 464 00:23:13,119 --> 00:23:15,639 Speaker 1: and no one else can just be that. But I 465 00:23:15,640 --> 00:23:17,240 Speaker 1: think that's the thing I had to I just haven't 466 00:23:17,840 --> 00:23:21,639 Speaker 1: given myself the time to think beyond this at this point. 467 00:23:21,640 --> 00:23:24,600 Speaker 1: It's just some so all in with this, and I 468 00:23:24,640 --> 00:23:27,560 Speaker 1: feel like I just want to focus on this for now, 469 00:23:27,920 --> 00:23:32,120 Speaker 1: but always still be open to like this can't last forever, right, 470 00:23:32,640 --> 00:23:37,040 Speaker 1: Like I can't. It's not sustainable forever, so what will 471 00:23:37,080 --> 00:23:39,760 Speaker 1: come next? And I think to your point about relationship 472 00:23:39,800 --> 00:23:42,240 Speaker 1: building is surrounding my I feel like it's important to 473 00:23:42,280 --> 00:23:45,800 Speaker 1: surround myself with other people doing similar like that entrepreneurial 474 00:23:45,800 --> 00:23:47,920 Speaker 1: spirit and having businesses of their own, so I can 475 00:23:48,000 --> 00:23:50,919 Speaker 1: learn and just always be in the mix with that 476 00:23:51,080 --> 00:23:53,719 Speaker 1: to see what they're doing and to learn from their insights. 477 00:23:54,320 --> 00:23:56,720 Speaker 1: Which has been a big part of what I focus 478 00:23:56,800 --> 00:23:58,560 Speaker 1: on this year is building those relationships. 479 00:23:59,600 --> 00:24:01,720 Speaker 3: I think that's awesome. So the first principle in the 480 00:24:01,800 --> 00:24:07,280 Speaker 3: narrow Road is that seeing is believing, right, so really imagining, 481 00:24:07,320 --> 00:24:11,520 Speaker 3: but also seeing other models of businesses that started and 482 00:24:11,560 --> 00:24:13,359 Speaker 3: you have got this wonderful one right in front of 483 00:24:13,400 --> 00:24:16,680 Speaker 3: you of tifany, but like saying you know what is 484 00:24:16,800 --> 00:24:20,639 Speaker 3: possible and then being able to really measure what you want. 485 00:24:20,760 --> 00:24:23,639 Speaker 3: But also one of the things I love about business ownership, 486 00:24:23,960 --> 00:24:26,600 Speaker 3: you really got to get clear about what you want, yeah, 487 00:24:26,720 --> 00:24:30,560 Speaker 3: because if not, you'll have a lot of people encouraging 488 00:24:30,560 --> 00:24:32,159 Speaker 3: you to do things that you may not want and 489 00:24:32,200 --> 00:24:35,320 Speaker 3: you might own a successful business, but it's not bringing 490 00:24:35,359 --> 00:24:37,840 Speaker 3: you Because we're talking about wealth. We talk about money 491 00:24:37,880 --> 00:24:40,919 Speaker 3: a lot. Anybody can get rich, but to build wealth, 492 00:24:40,960 --> 00:24:43,879 Speaker 3: that's a fulfilled life. So Mandy, start thinking about what 493 00:24:43,960 --> 00:24:46,640 Speaker 3: you want the work that you're doing to be able 494 00:24:46,680 --> 00:24:49,520 Speaker 3: to allow you to do to fulfill your life, and 495 00:24:49,600 --> 00:24:52,560 Speaker 3: if we can put a definitive timeline around it, you know, 496 00:24:52,720 --> 00:24:56,159 Speaker 3: the window for wealth building. You know, we have forty 497 00:24:56,240 --> 00:24:59,680 Speaker 3: years of increasing levels of income to finance eighty plus 498 00:24:59,800 --> 00:25:04,159 Speaker 3: years of living. So think about what does that look like, 499 00:25:04,720 --> 00:25:07,240 Speaker 3: and then run some projections that make some sense for you. 500 00:25:07,720 --> 00:25:09,760 Speaker 3: And there may be some areas of your business that it 501 00:25:09,800 --> 00:25:12,240 Speaker 3: can partner with other people, it can do other things 502 00:25:12,640 --> 00:25:14,879 Speaker 3: and open up avenues for you to be able to 503 00:25:14,920 --> 00:25:18,640 Speaker 3: move forward. But cast that vision in that forty year 504 00:25:18,720 --> 00:25:21,560 Speaker 3: window so that at the end of that you can 505 00:25:21,600 --> 00:25:26,280 Speaker 3: afford retirement and beyond, because it's really really important that 506 00:25:26,320 --> 00:25:30,240 Speaker 3: you are able to sustain a lifestyle beyond the workface. 507 00:25:30,680 --> 00:25:34,000 Speaker 3: I want more black women now than anything before to 508 00:25:34,080 --> 00:25:38,160 Speaker 3: get excited about retirement because there are so many opportunities 509 00:25:38,440 --> 00:25:41,479 Speaker 3: for black and brown women in particular to really make 510 00:25:41,520 --> 00:25:43,280 Speaker 3: an impact. But I want you to be able to 511 00:25:43,359 --> 00:25:46,679 Speaker 3: afford to show up and show out, and we've got 512 00:25:46,720 --> 00:25:48,840 Speaker 3: to plan today in our window of opportunity to be 513 00:25:48,840 --> 00:25:49,399 Speaker 3: able to do that. 514 00:25:49,880 --> 00:25:50,480 Speaker 1: I'm trying to. 515 00:25:50,400 --> 00:25:53,720 Speaker 2: Do that because honestly, one of the biggest mistakes that 516 00:25:53,760 --> 00:25:57,760 Speaker 2: I made is Budganista was going for going sake. So 517 00:25:58,080 --> 00:26:02,720 Speaker 2: with the Budgenesa had just beyond. I just was following 518 00:26:02,720 --> 00:26:05,480 Speaker 2: the lead of like the business in the business was 519 00:26:05,480 --> 00:26:07,679 Speaker 2: telling me what to do versus me telling the business 520 00:26:07,720 --> 00:26:10,200 Speaker 2: what to do. And I struggle with that for a 521 00:26:10,280 --> 00:26:14,760 Speaker 2: really long time, and especially as it became more successful, 522 00:26:14,800 --> 00:26:17,639 Speaker 2: because I was just like, well, isn't this what I 523 00:26:17,680 --> 00:26:20,560 Speaker 2: worked towards? So you know what I mean, it was 524 00:26:20,720 --> 00:26:22,199 Speaker 2: I really had a hard time with it because I'm like, 525 00:26:22,680 --> 00:26:25,359 Speaker 2: you know, the external feedback was go keep going, go 526 00:26:25,440 --> 00:26:28,160 Speaker 2: keep going, but then internally I was like, I kind 527 00:26:28,160 --> 00:26:30,920 Speaker 2: of am don't want to go keep going, or maybe 528 00:26:30,920 --> 00:26:33,600 Speaker 2: I want to go in a different direction. And so honestly, 529 00:26:33,680 --> 00:26:36,040 Speaker 2: it took for like, you know, quite honestly, my husband 530 00:26:36,080 --> 00:26:37,520 Speaker 2: passing away last year for me to. 531 00:26:37,480 --> 00:26:40,840 Speaker 3: Be like, so sorry, Tiffany, thank you sorry, for. 532 00:26:40,760 --> 00:26:43,560 Speaker 2: Me to get super clear or I'm not doing this anymore. 533 00:26:44,440 --> 00:26:46,840 Speaker 2: I'm not, you know, And it made me really clear 534 00:26:46,880 --> 00:26:50,240 Speaker 2: that I had too many people on the team. You know, 535 00:26:50,240 --> 00:26:52,439 Speaker 2: most of them were really wonderful, but I was just like, 536 00:26:52,960 --> 00:26:55,200 Speaker 2: you know, you actually don't need to make as much Tiffany, 537 00:26:55,760 --> 00:26:57,800 Speaker 2: like you know, like I said, now, I mean, at 538 00:26:57,800 --> 00:27:01,640 Speaker 2: one point, you know, I was spending like I don't 539 00:27:01,680 --> 00:27:04,040 Speaker 2: even know it was three times or our operating expenses 540 00:27:04,080 --> 00:27:05,600 Speaker 2: for a budget, these who were three times what they 541 00:27:05,640 --> 00:27:08,920 Speaker 2: are now we actually make more and then keep more. 542 00:27:09,240 --> 00:27:11,439 Speaker 2: So I'm like, and I do way less work. And 543 00:27:11,480 --> 00:27:16,640 Speaker 2: it took like this, like abrupt shift to say, Tiffany, 544 00:27:16,680 --> 00:27:19,240 Speaker 2: what do you actually want to do? Because it's not this. 545 00:27:19,960 --> 00:27:23,200 Speaker 2: You're always working and it's great that everybody wants you 546 00:27:23,240 --> 00:27:25,240 Speaker 2: to be on every podcast and every show and every 547 00:27:25,280 --> 00:27:28,080 Speaker 2: this and every opportunity and every speaking engagement, but at 548 00:27:28,080 --> 00:27:31,400 Speaker 2: what cost to you personally? And are you even really growing? Well, 549 00:27:31,560 --> 00:27:34,560 Speaker 2: that's the part that's the part that's crazy, is that 550 00:27:34,960 --> 00:27:37,959 Speaker 2: as much as I was making as a business, I 551 00:27:38,080 --> 00:27:40,720 Speaker 2: wasn't personally growing as much wealth as you would think 552 00:27:41,000 --> 00:27:44,159 Speaker 2: because I was giving it all away all exactly. I 553 00:27:44,160 --> 00:27:45,879 Speaker 2: don't even know how I meant to become a millionaire, 554 00:27:45,920 --> 00:27:48,120 Speaker 2: quite honestly. Like my financial advice was like God looking 555 00:27:48,119 --> 00:27:50,320 Speaker 2: after you, Tiffany, because you really shouldn't be as much 556 00:27:50,320 --> 00:27:52,480 Speaker 2: as you were paying people. Everybody was getting six figure 557 00:27:52,840 --> 00:27:55,959 Speaker 2: so I wasn't even making six figures, like you know, 558 00:27:56,040 --> 00:27:58,520 Speaker 2: I was paying everybody's six figures salaries for the most part, 559 00:27:58,520 --> 00:28:02,600 Speaker 2: everybody's getting paid well, everybody had insurance. Everybody had and 560 00:28:02,640 --> 00:28:05,679 Speaker 2: so now that's not so, you know, I'm down to 561 00:28:05,760 --> 00:28:08,960 Speaker 2: like three people, well two people, my three myself included. 562 00:28:09,359 --> 00:28:12,760 Speaker 2: I do wigh less. I work, you know, I work 563 00:28:12,800 --> 00:28:15,200 Speaker 2: only really the things I really enjoy or that pays 564 00:28:15,240 --> 00:28:20,199 Speaker 2: super duper well. And so I'm just conscious of not 565 00:28:20,359 --> 00:28:22,919 Speaker 2: letting kind of like that creep in. And so for 566 00:28:22,960 --> 00:28:26,920 Speaker 2: those who are listening, you know, it's not I tell 567 00:28:26,920 --> 00:28:28,520 Speaker 2: this to all my mentees all the time, that it's 568 00:28:28,640 --> 00:28:31,439 Speaker 2: not just success for success sake, but how will it 569 00:28:31,520 --> 00:28:34,080 Speaker 2: meet you? Will you be healthy, happy and whole? You know, 570 00:28:34,119 --> 00:28:36,280 Speaker 2: because you can have all of the things and yet 571 00:28:36,359 --> 00:28:39,520 Speaker 2: none of the things. And I was there. I wasn't unhappy, 572 00:28:39,960 --> 00:28:43,440 Speaker 2: but certainly I was overwhelmed. You know that you can 573 00:28:44,200 --> 00:28:46,200 Speaker 2: What is it that there's a quote that says that 574 00:28:46,600 --> 00:28:50,120 Speaker 2: anything in its excess becomes its opposite. You know, like 575 00:28:50,160 --> 00:28:52,080 Speaker 2: you can actually drink so much water you're drawing yourself. 576 00:28:52,240 --> 00:28:54,480 Speaker 2: A friend of mine almost poisoned herself because she ate 577 00:28:54,480 --> 00:28:58,640 Speaker 2: too many carrots. Yes, so like you know it's healthy 578 00:28:58,680 --> 00:29:00,160 Speaker 2: because she was in middle school, so you know, it's 579 00:29:00,200 --> 00:29:02,880 Speaker 2: so extra in those I was like your orange is 580 00:29:02,920 --> 00:29:05,000 Speaker 2: that normal? She's like, I don't know, but I love carrots, 581 00:29:05,360 --> 00:29:07,560 Speaker 2: And sure enough she fell out in class and it 582 00:29:07,600 --> 00:29:10,680 Speaker 2: turns out that she had like damaged her liver because 583 00:29:10,680 --> 00:29:13,040 Speaker 2: she needs to carrots. So I just share that to 584 00:29:13,080 --> 00:29:15,920 Speaker 2: say that, like, you know, especially like you know, Mandy, 585 00:29:16,000 --> 00:29:17,920 Speaker 2: folks are in your position that are kind of starting 586 00:29:17,960 --> 00:29:20,880 Speaker 2: out that you know, not letting it get ahead of 587 00:29:20,880 --> 00:29:23,280 Speaker 2: you and beyond you. So that way you're actually one 588 00:29:23,320 --> 00:29:25,960 Speaker 2: growing wealth, which is the purpose, and two that it's 589 00:29:26,040 --> 00:29:27,760 Speaker 2: meeting you healthy, happy and whole. 590 00:29:29,600 --> 00:29:33,400 Speaker 3: So you know the pathway that you were on. You know, 591 00:29:33,800 --> 00:29:37,560 Speaker 3: the wealth is generational, right, and I talk about legacy wealth, 592 00:29:37,600 --> 00:29:40,440 Speaker 3: which is cross generational. It takes three generations to build 593 00:29:40,520 --> 00:29:43,600 Speaker 3: legacy wealth, only one generation to lose it. But when 594 00:29:43,640 --> 00:29:47,000 Speaker 3: four generations connect, the wealth will begins to turn. So 595 00:29:47,120 --> 00:29:50,760 Speaker 3: every generation is an opportunity to advance the collective forward. 596 00:29:51,280 --> 00:29:54,680 Speaker 3: But the first generation creates a standard and it works 597 00:29:54,720 --> 00:29:58,680 Speaker 3: extremely hard. And Tiffany, what you just described were the 598 00:29:58,760 --> 00:30:02,880 Speaker 3: components of a first generation business, right, that second generation 599 00:30:03,000 --> 00:30:07,200 Speaker 3: builds on that with structures and systems and relationships, and 600 00:30:07,200 --> 00:30:09,760 Speaker 3: that's what you describe that you have. Now you know 601 00:30:09,800 --> 00:30:14,240 Speaker 3: that third generation acquires you've done that too, acquires additional 602 00:30:14,280 --> 00:30:18,680 Speaker 3: opportunity through work that they have not done themselves, so 603 00:30:18,720 --> 00:30:22,680 Speaker 3: they partner with others. And then the fourth generation basically 604 00:30:22,720 --> 00:30:25,480 Speaker 3: expands it as a model, a whole model where yes, 605 00:30:25,600 --> 00:30:28,800 Speaker 3: you work hard, yes you have systems, Yes you partner 606 00:30:28,840 --> 00:30:31,760 Speaker 3: with other experts in areas that you don't have. But 607 00:30:31,800 --> 00:30:34,920 Speaker 3: here's the model, and it's culturally relevant. And so that's 608 00:30:34,920 --> 00:30:37,720 Speaker 3: what I encourage many of our businesses spend some time 609 00:30:37,800 --> 00:30:41,800 Speaker 3: to build the internal culture. The internal culture is why 610 00:30:41,840 --> 00:30:44,360 Speaker 3: your people will work and you don't have to pay 611 00:30:44,400 --> 00:30:47,280 Speaker 3: them six figures at the door. They can work their 612 00:30:47,280 --> 00:30:50,880 Speaker 3: way up because they understand what the blueprint requires, because 613 00:30:50,920 --> 00:30:53,680 Speaker 3: you've written the blueprint. And so my prayer is that 614 00:30:53,760 --> 00:30:56,200 Speaker 3: more of our companies will really work to establish a 615 00:30:56,240 --> 00:30:59,160 Speaker 3: working culture where people want to live out their career 616 00:30:59,240 --> 00:31:02,560 Speaker 3: there or or bring their best and then move on 617 00:31:02,640 --> 00:31:07,760 Speaker 3: to another level, but leave it better than they found it, 618 00:31:07,840 --> 00:31:10,080 Speaker 3: because that's where we are right now and elevating our 619 00:31:10,080 --> 00:31:13,400 Speaker 3: standard of business. So many of our businesses don't employ 620 00:31:13,480 --> 00:31:17,040 Speaker 3: anyone or employ so many people that they impinge upon 621 00:31:17,040 --> 00:31:21,760 Speaker 3: their profitability. The last thing I'll say is that parody 622 00:31:22,000 --> 00:31:25,240 Speaker 3: is a reality that should we get to that in 623 00:31:25,280 --> 00:31:28,760 Speaker 3: our community would change the game for everyone. You know, 624 00:31:28,920 --> 00:31:33,000 Speaker 3: data shows that African American and Brown owned businesses they 625 00:31:33,120 --> 00:31:37,760 Speaker 3: hire their own, So our growth really provides opportunities to 626 00:31:37,760 --> 00:31:41,040 Speaker 3: build wealth for more than just ourselves. And so really 627 00:31:41,080 --> 00:31:43,840 Speaker 3: thinking about the bigger picture and moving forward in a 628 00:31:43,880 --> 00:31:46,040 Speaker 3: way that fulfills your life with a wealth outcome that 629 00:31:46,120 --> 00:31:49,280 Speaker 3: you believe it is critical. And those two things are 630 00:31:49,440 --> 00:31:52,720 Speaker 3: as important as the other pieces in terms of the 631 00:31:52,760 --> 00:31:55,160 Speaker 3: money and the financials. I'm a warton grad. I love 632 00:31:55,200 --> 00:31:57,400 Speaker 3: the financials. But here's the thing. I want you to 633 00:31:57,400 --> 00:31:59,640 Speaker 3: live and enjoy your life, but I also want you 634 00:31:59,640 --> 00:32:01,400 Speaker 3: to under and why you're doing it so that the 635 00:32:01,440 --> 00:32:04,240 Speaker 3: next generation is following you wants to pick up where 636 00:32:04,240 --> 00:32:08,560 Speaker 3: you left off because you've finished off a platform that 637 00:32:08,600 --> 00:32:09,120 Speaker 3: makes sense. 638 00:32:09,480 --> 00:32:11,920 Speaker 1: So basically, Tiffany's done like four generations of work. 639 00:32:12,160 --> 00:32:14,680 Speaker 2: So I feel like I've been working on the trust. 640 00:32:14,760 --> 00:32:16,840 Speaker 2: Now that's like the last little piece, like I call 641 00:32:16,920 --> 00:32:19,360 Speaker 2: my thing financial wholeness, which is like these ten components 642 00:32:19,400 --> 00:32:22,960 Speaker 2: of your financial life, and the tenth component is estate planning. 643 00:32:23,400 --> 00:32:25,680 Speaker 2: And of course it just has to look different when 644 00:32:25,760 --> 00:32:28,160 Speaker 2: you have a business. And so one of the things 645 00:32:28,200 --> 00:32:29,440 Speaker 2: I you know, I have to really get clear on 646 00:32:29,600 --> 00:32:33,440 Speaker 2: is what happens to my businesses when I'm no longer here, 647 00:32:34,240 --> 00:32:36,760 Speaker 2: and what if, like you know, like my sisters are 648 00:32:36,800 --> 00:32:40,120 Speaker 2: no longer here, what about their children? So really creating 649 00:32:40,160 --> 00:32:44,800 Speaker 2: to your point, doctor Jolly, like a model that the 650 00:32:44,880 --> 00:32:47,840 Speaker 2: wealth can be extended, even if it's not specifically through businesses. 651 00:32:47,880 --> 00:32:50,720 Speaker 2: Maybe it's like, okay, then here how here's how the 652 00:32:50,720 --> 00:32:54,800 Speaker 2: funds are continue to be invested, so that way beyond you, 653 00:32:54,800 --> 00:32:57,920 Speaker 2: you know that you know that the wealth continues there. 654 00:32:58,680 --> 00:33:00,760 Speaker 2: I saw this little old lady on I was watching 655 00:33:00,840 --> 00:33:03,840 Speaker 2: some of YouTube documentary about this woman from the Appalachia, 656 00:33:03,880 --> 00:33:06,160 Speaker 2: and I just remember being so impressed with her because 657 00:33:06,280 --> 00:33:10,280 Speaker 2: her family had two hundred acres in Appalachia, and you know, 658 00:33:11,120 --> 00:33:13,160 Speaker 2: on the surface, you would think like, okay, you know, 659 00:33:13,280 --> 00:33:15,920 Speaker 2: she like stopped going to school on fourth grade. You know, 660 00:33:16,080 --> 00:33:18,680 Speaker 2: she herself said that she wasn't very educated, but she 661 00:33:18,720 --> 00:33:21,520 Speaker 2: had sent all her kids for good schooling. As she said, 662 00:33:21,760 --> 00:33:23,120 Speaker 2: and she said, you know, one of my sons is 663 00:33:23,160 --> 00:33:25,200 Speaker 2: a lawyer, one of my daughters is a teacher. You know, 664 00:33:25,280 --> 00:33:27,240 Speaker 2: they don't want to live here in the backwoods of Appalachia, 665 00:33:27,280 --> 00:33:29,360 Speaker 2: but I sent them off and one thing I did 666 00:33:29,520 --> 00:33:32,360 Speaker 2: was she said, is I put my two hundred acres 667 00:33:32,360 --> 00:33:35,200 Speaker 2: into a trust because won't be no weak links here. 668 00:33:35,800 --> 00:33:38,000 Speaker 2: And I thought that was genius. She said, because this 669 00:33:38,120 --> 00:33:42,120 Speaker 2: land does not belong to any individual person. It belongs 670 00:33:42,160 --> 00:33:44,680 Speaker 2: to our family line. And so she put it in 671 00:33:44,680 --> 00:33:48,200 Speaker 2: a trust. That like, so they all get to benefit financially, 672 00:33:48,520 --> 00:33:51,239 Speaker 2: but not just you, your kids, kids, kids kids, And 673 00:33:51,320 --> 00:33:53,800 Speaker 2: if Walmart comes knocking and says, we'd love to buy, 674 00:33:53,840 --> 00:33:57,640 Speaker 2: you know, one hundred acres, the trust says now, because 675 00:33:57,680 --> 00:33:59,520 Speaker 2: it's not up to that person because she's no longer here. 676 00:33:59,560 --> 00:34:04,280 Speaker 2: And I just thought, wow, that how smart and genius 677 00:34:04,320 --> 00:34:06,600 Speaker 2: this was that she was looking after great great great 678 00:34:06,880 --> 00:34:09,720 Speaker 2: grand babies that she would never meet, but she would 679 00:34:09,719 --> 00:34:10,799 Speaker 2: have a positive effect on. 680 00:34:11,760 --> 00:34:15,560 Speaker 3: And that's what's so beautiful. She's incorporated the family business, 681 00:34:15,960 --> 00:34:20,160 Speaker 3: so it's no longer a lifestyle business. It's a legacy business. 682 00:34:20,280 --> 00:34:23,480 Speaker 3: And so that's really where the opportunity is. And she 683 00:34:23,640 --> 00:34:26,359 Speaker 3: sounds like of the generation the wealthiest generation in our 684 00:34:26,400 --> 00:34:30,040 Speaker 3: community is our grandparents' generation. You know, they have the 685 00:34:30,080 --> 00:34:33,319 Speaker 3: ability to be able to afford to look beyond themselves 686 00:34:33,719 --> 00:34:36,520 Speaker 3: and want better. And so my prayer is that when 687 00:34:36,560 --> 00:34:38,440 Speaker 3: we get to that age. We can do the same, 688 00:34:38,520 --> 00:34:41,160 Speaker 3: but we've set it up a lot earlier, and it's 689 00:34:41,239 --> 00:34:45,080 Speaker 3: compounding and growing at a faster rate because what they're 690 00:34:45,120 --> 00:34:48,160 Speaker 3: doing is setting that strong foundation so that your nephew 691 00:34:48,200 --> 00:34:51,440 Speaker 3: who's a genius has a balance sheet with some equity 692 00:34:51,480 --> 00:34:53,960 Speaker 3: on it when he shows up at the equity table. 693 00:34:54,480 --> 00:34:58,040 Speaker 3: And so oftentimes, you know, we show up with an idea, 694 00:34:58,120 --> 00:34:59,720 Speaker 3: but I want us to show up with an idea 695 00:35:00,160 --> 00:35:03,919 Speaker 3: equity and ask somebody to match that. And so that's 696 00:35:03,960 --> 00:35:08,839 Speaker 3: really where the generational transfer of wealth, not just financial wealth, 697 00:35:08,880 --> 00:35:12,440 Speaker 3: but intellectual, social capital and spiritual really matters. 698 00:35:12,880 --> 00:35:15,239 Speaker 1: Well, Doctor Pamela Jolly, thank you, thank you, thank you 699 00:35:15,280 --> 00:35:18,360 Speaker 1: so much for joining Ground Ambition. Please tell BA fam 700 00:35:18,400 --> 00:35:20,239 Speaker 1: where they can find out more about you and get 701 00:35:20,239 --> 00:35:22,760 Speaker 1: a copy of that book that's coming out September twelfth, 702 00:35:22,880 --> 00:35:23,359 Speaker 1: Is that right? 703 00:35:23,920 --> 00:35:26,719 Speaker 3: Yes, so September twelfth in a book in a black 704 00:35:26,760 --> 00:35:32,120 Speaker 3: bookstore near you, as well as Amazonandwordy dot com. And 705 00:35:32,239 --> 00:35:36,440 Speaker 3: also I'm at doctor Pamela Jolly on Instagram and then 706 00:35:36,480 --> 00:35:39,120 Speaker 3: Torch Enterprises dot com is the website where you can 707 00:35:39,160 --> 00:35:42,279 Speaker 3: pre order. I really really appreciate this opportunity to be 708 00:35:42,320 --> 00:35:45,600 Speaker 3: on this amazing podcast, Tiffany and Mandy. I've listened to 709 00:35:45,680 --> 00:35:48,160 Speaker 3: other episodes. I love what you're doing in terms of 710 00:35:48,239 --> 00:35:51,399 Speaker 3: raising awareness and encouraging people to think about the things 711 00:35:51,400 --> 00:35:53,480 Speaker 3: that we need to think about so that wealth can 712 00:35:53,560 --> 00:35:56,239 Speaker 3: become a standard in our community. So thanks so much 713 00:35:56,280 --> 00:35:56,799 Speaker 3: for having me. 714 00:35:57,960 --> 00:36:03,560 Speaker 1: Thank you awesome, thank you, jolly excellent, thank you all right, 715 00:36:03,600 --> 00:36:06,040 Speaker 1: Ba Fam, thanks for taking a little walk down memory 716 00:36:06,120 --> 00:36:09,400 Speaker 1: laying with us and what an awesome throwback episode that was. 717 00:36:09,880 --> 00:36:12,359 Speaker 1: Make sure to check out Brown Ambition podcast. We air 718 00:36:12,480 --> 00:36:15,920 Speaker 1: every Monday, Wednesday and Friday wherever you get your podcasts. 719 00:36:16,160 --> 00:36:21,279 Speaker 1: Bye Ba Fam.