WEBVTT - Serial Entrepreneurship and Creating a YouTube Business with Minority Mindset Founder Jaspreet Singh #241 0:00:00.240 --> 0:00:02.880 Welcome to How the Money. I'm Joel and I and 0:00:03.000 --> 0:00:06.800 Matt's and today we're discussing serial entrepreneurship and creating a 0:00:06.840 --> 0:00:30.320 YouTube business with Minority Mindset founder Joss Breezing. Jos Spreez 0:00:30.360 --> 0:00:33.280 seeing is our guest today and he can probably be 0:00:33.280 --> 0:00:37.040 best described as a serial entrepreneur, but a life of 0:00:37.200 --> 0:00:40.960 entrepreneurship that wasn't always the plan. Just Breez was born 0:00:41.000 --> 0:00:43.280 to immigrant parents and he grew up bilingual in a 0:00:43.280 --> 0:00:46.560 traditional seek family, with a strong expectation that he was 0:00:46.600 --> 0:00:49.440 going to be a doctor. All that to say, he's 0:00:49.479 --> 0:00:52.199 not a doctor now, or at least not currently. His 0:00:52.320 --> 0:00:55.760 YouTube channel, Minority Mindset, has close to six and fifty 0:00:55.760 --> 0:01:00.200 thousand subscribers, and through Jos spreezz educational and entertaining videos, 0:01:00.320 --> 0:01:03.400 he is able to share wisdom around personal finance and investing. 0:01:04.040 --> 0:01:07.279 We're excited to talk all about entrepreneurship, what it means 0:01:07.319 --> 0:01:09.959 to have a minority mindset, and then how to go 0:01:10.000 --> 0:01:13.280 about building a YouTube channel from scratch. So, Josh s freet, 0:01:13.440 --> 0:01:15.840 thank you for joining us, Thank you for having me. 0:01:15.880 --> 0:01:19.560 I'm excited and that was a very good introduction. We 0:01:19.800 --> 0:01:21.360 we do our best. Matt does a good job in 0:01:21.440 --> 0:01:24.760 formulating the bios. Jos Brett. So every uh, we we 0:01:24.840 --> 0:01:27.160 know you do not drink, but Matt and I we 0:01:27.200 --> 0:01:28.880 like a craft beer every every once in a while, 0:01:28.880 --> 0:01:30.880 and so on this episode we're having an I p 0:01:31.000 --> 0:01:33.399 A by a local brewery called Three Taverns. And part 0:01:33.400 --> 0:01:35.760 of the reason that we enjoy a beer is because 0:01:36.480 --> 0:01:39.959 it's this sign of us splurging on something in the 0:01:40.000 --> 0:01:42.080 here and now what we're also doing our best to 0:01:42.240 --> 0:01:45.479 save and invest for the future. Um and so yeah, 0:01:45.520 --> 0:01:47.319 I want to know, like, is there anything that you 0:01:47.520 --> 0:01:49.320 like to sploage on in the here and now while 0:01:49.320 --> 0:01:52.280 you're also handling your money. Well, you know, right now 0:01:52.480 --> 0:01:55.240 at the time of me doing this podcast, I honestly 0:01:55.240 --> 0:01:57.840 don't spend a lot of money on much. I'm not 0:01:57.880 --> 0:02:01.400 traveling because of this pandemic. I'm not a big person 0:02:01.440 --> 0:02:03.840 on fancy clothes or all that. But one thing that 0:02:03.880 --> 0:02:06.480 I do spend money on that us spend money on beer, 0:02:06.800 --> 0:02:10.520 I would say, is food. I am a big foodie. 0:02:10.639 --> 0:02:14.320 I work out a lot, so I justify my eating 0:02:14.360 --> 0:02:18.359 habits because those calories. I love food. That's not how 0:02:18.360 --> 0:02:22.639 many calories that eat, is how many calories are burned right, Yeah, 0:02:22.639 --> 0:02:25.400 and wings in particular, right, is that that's your that's 0:02:25.440 --> 0:02:30.560 your big love? Yeah, I I love I mean honestly anything, burgers, 0:02:31.000 --> 0:02:36.920 Indian food, Mexican food, Italian food, like I'm anywhere. I 0:02:36.960 --> 0:02:39.200 love it. Man, that's so good. All right, Just before 0:02:39.240 --> 0:02:41.840 we dive, you know, into what minority mindset is all about, 0:02:42.200 --> 0:02:45.360 we we'd like to talk about your entrepreneurial endeavors. You know, 0:02:45.560 --> 0:02:47.760 like early on, when you were in high school, you 0:02:47.800 --> 0:02:50.520 started hosting parties as a side gig. How did that 0:02:50.560 --> 0:02:55.240 come about? Did you have experience with the event production? No, 0:02:55.440 --> 0:02:57.040 so it's kind of funny. So I grew up, like 0:02:57.040 --> 0:03:00.240 you were saying, in a traditional Indian household, where when 0:03:00.280 --> 0:03:01.640 I was in eighth grade, of I'll just back up 0:03:01.639 --> 0:03:03.160 a little bit. I'll show you guys what I mean. 0:03:03.560 --> 0:03:05.840 My parents were very serious about me becoming a doctor, 0:03:05.960 --> 0:03:07.920 and so in eighth grade and everyone's like trying to 0:03:08.480 --> 0:03:12.400 do social studies and basic math and stuff like that, 0:03:12.480 --> 0:03:15.360 my parents caught me an mcat tutor, which is somebody 0:03:15.400 --> 0:03:19.160 who gets you ready for medical school. So, uh, that's 0:03:19.160 --> 0:03:21.280 what I was doing in eighth grade. And I had 0:03:21.360 --> 0:03:24.639 no idea of what business was or what entrepreneurship was. 0:03:24.680 --> 0:03:27.240 I've always been an entrepreneur. I felt like when I 0:03:27.240 --> 0:03:29.520 was in elementary school, I was a paperboy. I used 0:03:29.560 --> 0:03:32.040 to cut people's lawns. But then in high school, I 0:03:32.080 --> 0:03:34.600 picked up a drum, an Indian drum called They're told. 0:03:34.840 --> 0:03:38.960 It's like a big loud drum that nowadays people play 0:03:39.000 --> 0:03:40.560 at weddings. And I was always a big fan of 0:03:40.560 --> 0:03:43.120 it because I was really like Indian music. And so 0:03:43.160 --> 0:03:45.120 I started playing this drum. I got it from India 0:03:45.640 --> 0:03:49.000 and um I was playing it at an uncle's wedding. 0:03:49.080 --> 0:03:52.120 I was thirteen years old, and the DJ who was DJ, 0:03:52.640 --> 0:03:56.240 was like, hey, just breathed, why don't you play with 0:03:56.240 --> 0:03:59.560 me as someone else's wedding. And I'm like okay, because 0:03:59.600 --> 0:04:01.920 like I'll pay you a hundred dollars or something. I'm like, okay, 0:04:03.240 --> 0:04:05.120 thirteen years old, A hundred dollars a lot of money. 0:04:05.640 --> 0:04:08.200 So I started doing that when I was like thirteen fourteen, 0:04:08.520 --> 0:04:11.200 and when I was sixteen. Now I'm in high school, 0:04:11.840 --> 0:04:15.280 middle junior year or something like that, and the d 0:04:15.400 --> 0:04:18.240 J I was working with presented this idea said, hey, 0:04:18.240 --> 0:04:21.280 look there's this new restaurant that's opening up and they 0:04:21.279 --> 0:04:24.560 are interested in hosting parties there? How would you be 0:04:24.600 --> 0:04:27.240 interested in hosting teen parties? Do you invite your class 0:04:27.240 --> 0:04:30.400 friends and you know, we can split the costs and 0:04:30.720 --> 0:04:32.839 kind of make it work. And I was like, okay, 0:04:33.200 --> 0:04:36.600 uh So from there I started, um, I got into 0:04:36.640 --> 0:04:39.880 the event planning side of things. I started hosting these 0:04:39.920 --> 0:04:42.280 teen parties. I was I didn't have much money, so 0:04:42.360 --> 0:04:44.440 it was more of the DJ kind of fronting the cost, 0:04:44.520 --> 0:04:48.080 but I would invite the people. And now we had 0:04:48.120 --> 0:04:51.599 an event planning business where I would invite my classmates 0:04:51.640 --> 0:04:53.800 to this restaurant and we would host parties and we 0:04:53.800 --> 0:04:56.000 would charge them cover. And I didn't think much of 0:04:56.000 --> 0:04:58.039 it at the time, but when I went to college, 0:04:58.240 --> 0:05:01.520 that business grew. So tell us about that then, How 0:05:01.560 --> 0:05:03.200 did how did things go down to college? And did 0:05:03.240 --> 0:05:06.680 you just like, were you finding out at that point 0:05:06.720 --> 0:05:10.119 in time that you had a bug for entrepreneurship, creating things, 0:05:10.320 --> 0:05:14.520 running your own business? Yeah, you know, I did, Like 0:05:14.640 --> 0:05:17.280 I really enjoyed the entrepreneurship and business side of things, 0:05:17.320 --> 0:05:19.600 and I started to realize I had this bug. And 0:05:19.640 --> 0:05:21.919 I went to college, so I had no idea what 0:05:21.960 --> 0:05:24.200 college was supposed to be like in America. I thought 0:05:24.600 --> 0:05:27.200 people go to college to study, and like Friday nights, 0:05:27.200 --> 0:05:30.720 people would be in the chemistry lab doing reactions and 0:05:30.760 --> 0:05:33.120 studying and doing all this. So I'll go to college 0:05:33.200 --> 0:05:37.800 not knowing what to expect, and everybody is partying and 0:05:37.880 --> 0:05:40.320 I am mind blown. Like I don't drink. I'm not 0:05:40.400 --> 0:05:42.680 too into parting. I liked hosting the parties because I 0:05:42.680 --> 0:05:44.120 like the business side of it, but I was never 0:05:44.160 --> 0:05:47.400 into partying. I never liked drinking. Uh, never got into drinking. 0:05:47.960 --> 0:05:50.640 And that's when I was like, Holy cow, what's going 0:05:50.680 --> 0:05:53.839 on here? So I needed something to do on Friday nights, 0:05:54.200 --> 0:05:56.640 and I wasn't too interested in going to the parties. 0:05:56.880 --> 0:05:59.000 So that's what I At this point, I've had a 0:05:59.000 --> 0:06:00.960 lot of friends and the d J and kind of 0:06:00.960 --> 0:06:04.080 the wedding planning and event planning business, and so I 0:06:04.120 --> 0:06:05.800 was like, you know, why don't I bring this high 0:06:05.800 --> 0:06:08.839 school teen party business to college. So I started going 0:06:08.839 --> 0:06:12.080 to the venues and talking to the owners, and long 0:06:12.120 --> 0:06:16.359 story short, by my sophomore year, I had a contract 0:06:16.440 --> 0:06:21.160 with almost every club on campus to do parties with us, 0:06:21.160 --> 0:06:24.240 and we were hosting and certain venues we were hosting 0:06:24.279 --> 0:06:26.839 college nights every Thursday. Other venues. We were doing once 0:06:26.839 --> 0:06:28.920 a month type of things that we got into concerts 0:06:28.960 --> 0:06:32.640 and shows. And that was kind of like my first 0:06:32.839 --> 0:06:37.000 real real business And it was a big shocker to 0:06:37.080 --> 0:06:39.720 me because I was making pretty decent money and I 0:06:39.760 --> 0:06:42.039 was in school and I was studying to be a 0:06:42.080 --> 0:06:43.960 doctor at the time, and I had no idea that 0:06:44.040 --> 0:06:45.960 you can make money without a degree. Like this is 0:06:45.960 --> 0:06:48.640 how kind of naive I was, where I thought that, okay, 0:06:48.960 --> 0:06:50.680 the amount of money you make in life is depending 0:06:50.720 --> 0:06:53.960 on what degree you get. And uh so, now my 0:06:54.000 --> 0:06:57.000 mind really opened up because I got an entrepreneurship. I 0:06:57.000 --> 0:07:00.040 don't have any like entrepreneur friends or investor friends. And 0:07:00.640 --> 0:07:02.800 I was making this money. I started reading business books 0:07:02.800 --> 0:07:05.839 and that's how I got into investing because this was 0:07:05.880 --> 0:07:10.560 actually like during the Great Recession, so like the tail 0:07:10.640 --> 0:07:13.000 end of the Great Recession, and realistic prices were dirt cheap, 0:07:13.680 --> 0:07:16.239 and that's when I started investing in real estate because 0:07:16.520 --> 0:07:18.480 realistic from was so cheap and I had money that 0:07:18.520 --> 0:07:19.960 I was making, I don't know what to do with it. 0:07:20.160 --> 0:07:22.240 I was going to buy a car. Um that was 0:07:22.280 --> 0:07:24.800 actually you know, we talked about what do you spend 0:07:24.800 --> 0:07:26.520 money on when if you asked me that question ten 0:07:26.600 --> 0:07:28.520 years ago. My ass and would have been very different. 0:07:29.520 --> 0:07:32.360 Back when I was in high school in early college, 0:07:32.400 --> 0:07:33.800 you know, it was all about, Okay, I want that 0:07:33.880 --> 0:07:36.160 new watch. I can't wait till I can buy a Beamer. 0:07:36.280 --> 0:07:38.640 I can't wait till you know, have those flashy looking things. 0:07:39.440 --> 0:07:41.560 And when I started to make real money, I was like, man, 0:07:41.880 --> 0:07:43.800 I can't wait till I buying you three series. I 0:07:43.880 --> 0:07:46.840 want to buy a new Beamer. But uh, I started 0:07:46.840 --> 0:07:49.840 reading this book, these books about business, and I started 0:07:49.880 --> 0:07:52.120 like learning more about investing, and I was like, you 0:07:52.160 --> 0:07:54.120 know what, instead of buying a car, I'm gonna buy 0:07:54.120 --> 0:07:56.840 a condo. And that's when my mind really opened up 0:07:56.880 --> 0:07:59.520 and I got into money management and investing and learn 0:07:59.560 --> 0:08:02.920 more about entrepreneurship. Nice man, So, so, yeah, you're making 0:08:02.920 --> 0:08:06.640 money from the production business basically there in college, and 0:08:06.760 --> 0:08:09.240 it sounds like you were learning about investing, you know, 0:08:09.360 --> 0:08:12.080 at the same time while you're It sounds like from 0:08:12.120 --> 0:08:13.960 just some different books you're reading. I guess that was 0:08:14.000 --> 0:08:16.360 around ten years ago. So do you still own that 0:08:16.400 --> 0:08:18.760 first investment property today? Has that? Has that been a 0:08:18.760 --> 0:08:21.680 good one for you? Yeah? I do, I do, so 0:08:21.800 --> 0:08:24.200 that condo I picked it up for eight thousand dollars, 0:08:24.200 --> 0:08:27.440 and it sounds crazy. It's like eight thousand dollars was 0:08:27.480 --> 0:08:29.640 not the downpayment, that was the actual price of the condo. 0:08:30.040 --> 0:08:34.199 And to put it in perspective, this was like two thousand, twelve, 0:08:34.240 --> 0:08:36.520 eleven twelve, something like that, and so it was like 0:08:36.800 --> 0:08:38.880 and I'm based in Michigan, so we were hit really 0:08:38.880 --> 0:08:42.120 hard by the Great Recession. And a few years prior 0:08:42.160 --> 0:08:43.640 to me buying this condo, if you look at like 0:08:43.679 --> 0:08:46.680 the historical records, the previous owner purchased it for a 0:08:46.720 --> 0:08:50.319 hundred and fifty thousand dollars and because of the recession, 0:08:50.760 --> 0:08:53.360 the banks sold it for eight thousand dollars. So I 0:08:53.360 --> 0:08:55.640 picked it up for eight thousand, and then I rented 0:08:55.679 --> 0:08:58.120 it out for six hundred dollars a month. I had 0:08:58.160 --> 0:09:00.840 no idea at the time, just thought that was normal 0:09:00.880 --> 0:09:02.560 because I hadn't you know, I don't know wheny real 0:09:02.640 --> 0:09:05.040 estate investor friends. I just kind of jumped in, not 0:09:05.160 --> 0:09:06.640 knowing what I was doing. I don't have anyone to 0:09:06.679 --> 0:09:09.520 talk to, so I didn't realize that it was this 0:09:09.600 --> 0:09:11.400 was like a great deal. I just thought that was 0:09:11.440 --> 0:09:13.679 normal because that was the first time I had experienced 0:09:13.760 --> 0:09:18.760 real estate, so I still own it and yeah, so 0:09:18.760 --> 0:09:21.120 so just in general, are you a fan of real estate? 0:09:21.160 --> 0:09:23.800 Is that something that you've continued to pursue, like as 0:09:23.880 --> 0:09:28.200 you're developing the other businesses essentially that you have also 0:09:28.240 --> 0:09:30.640 become interested like starting up a YouTube channel and stuff 0:09:30.640 --> 0:09:32.199 like that, which we're gonna ask you more about later. 0:09:32.480 --> 0:09:35.000 But are you are you generally a fan of real estate? 0:09:35.040 --> 0:09:37.000 Are you doing more of it? And then people that 0:09:37.080 --> 0:09:40.120 come to to watch your YouTube videos, how do you 0:09:40.440 --> 0:09:42.760 talk to them about real estate now that you're kind 0:09:42.760 --> 0:09:45.800 of ten years into the real estate investing game. Yeah, 0:09:45.920 --> 0:09:48.720 I am definitely a fan of real estate. I am 0:09:48.720 --> 0:09:52.679 still pretty active and realistate investing. I am always looking 0:09:52.679 --> 0:09:55.320 for deals, So I'm a big fan of real estate investing. 0:09:55.320 --> 0:09:57.559 I talked about it all the time on a YouTube channel. Um, 0:09:57.559 --> 0:10:00.319 I prefer realistate investing over the stock market. I actually 0:10:00.360 --> 0:10:02.400 just released a video on this not too long ago. 0:10:02.480 --> 0:10:04.839 But the stock market has been getting a lot of 0:10:04.960 --> 0:10:07.080 tension recently just because of you know, the crash and 0:10:07.120 --> 0:10:09.720 everything going on. The stock market moves very quickly, right, 0:10:09.720 --> 0:10:11.960 you can buy and sell a stock in two seconds, 0:10:12.240 --> 0:10:14.800 which is why you know the stock market moves so 0:10:14.880 --> 0:10:16.520 much faster than real estate. You can see it go 0:10:16.600 --> 0:10:20.479 up or down. Real estate is much slower moving. And um, 0:10:20.520 --> 0:10:22.280 what I'm paying attention to in real estate, this is 0:10:22.320 --> 0:10:25.400 recorded in is what's going to happen over the next 0:10:25.840 --> 0:10:29.400 one and a half two years when for bards programs 0:10:29.400 --> 0:10:33.640 start to really and and the free money goes away. 0:10:33.800 --> 0:10:36.840 And we might if if we're still feeling the effects 0:10:36.840 --> 0:10:38.440 of this recession, how that's going to affect the real 0:10:38.559 --> 0:10:41.160 estate market. So that's something I'm paying attention to, something 0:10:41.200 --> 0:10:43.160 I'm talking about on our YouTube channel and our financial 0:10:43.240 --> 0:10:46.560 news better. So I am really involved in real estate. 0:10:46.600 --> 0:10:48.000 I'm a big fan of real estate as a long 0:10:48.120 --> 0:10:51.480 term investment. Nice well, so just be you know, you 0:10:51.480 --> 0:10:53.679 were on the premed track, like you mentioned this when 0:10:53.679 --> 0:10:55.800 you went to school, and you know, you thought you 0:10:55.840 --> 0:10:59.240 were gonna be be a doctor based on parental expectations, 0:10:59.240 --> 0:11:02.319 you know, but now you're basically an online entrepreneur as 0:11:02.320 --> 0:11:05.640 well as a teacher, real estate owner and investor. Like, 0:11:05.720 --> 0:11:08.400 so what happened to cause you to to make such 0:11:08.480 --> 0:11:11.080 a drastic shift? You know? Was it you realizing that 0:11:11.120 --> 0:11:13.080 you didn't necessarily need to have a degree, like you 0:11:13.120 --> 0:11:15.600 mentioned uh, in order to make any money. Is that 0:11:15.640 --> 0:11:18.120 what caused you to kind of change gears? There? No, 0:11:18.679 --> 0:11:22.040 So I I always thought, Okay, you know, I'll become 0:11:22.040 --> 0:11:24.319 a doctor and I'll just do entrepreneurship after because I'll 0:11:24.320 --> 0:11:26.280 make my parents happy. I'll become a doctor, then I'll 0:11:26.280 --> 0:11:30.200 start a business after that. But towards the end of college, 0:11:30.240 --> 0:11:33.200 I was like, man, that's a really long journey because 0:11:33.240 --> 0:11:35.640 it takes like ten years to become a doctor's medical 0:11:35.640 --> 0:11:39.400 school residency fellowship. And I'm like, you know, maybe that's 0:11:39.440 --> 0:11:42.320 a little bit too much of a commitment. So that's 0:11:42.320 --> 0:11:43.800 when I was like, you know, maybe I'll just do 0:11:43.880 --> 0:11:46.000 more of entrepreneurship. And this was a weird time for 0:11:46.040 --> 0:11:48.880 me because I started to get really fed up and 0:11:48.920 --> 0:11:52.360 sick of the event planning business because I don't drink, 0:11:52.600 --> 0:11:55.320 I don't really like parties. I wasn't really into the scene. 0:11:55.480 --> 0:11:57.360 I just like the business side of things. And towards 0:11:57.440 --> 0:11:59.600 the end of college, I was getting read up, really 0:11:59.600 --> 0:12:00.960 fed up with it because I was doing it for 0:12:00.960 --> 0:12:02.560 the wrong reasons. I was doing it for the money 0:12:02.600 --> 0:12:05.560 instead of for like my passion, and the money was good, 0:12:05.920 --> 0:12:08.679 but my heart wasn't in it, and so that's when 0:12:08.720 --> 0:12:11.520 I really started to get more into other things. I 0:12:11.559 --> 0:12:14.520 got into real estate more heavily, um so not just 0:12:14.559 --> 0:12:17.160 real estate investing. I got my real estate salesperson license. 0:12:17.440 --> 0:12:21.640 I also got into real estate wholesaling, and then I 0:12:21.640 --> 0:12:25.080 started a sock business. So a funny story was I 0:12:25.120 --> 0:12:29.199 was taking a class on public speaking and I was 0:12:29.240 --> 0:12:31.880 a little bit of a procrastinator at the time, and 0:12:31.920 --> 0:12:34.200 we had this project where I was supposed to pitch 0:12:34.240 --> 0:12:37.760 to the class a business idea. So the class was 0:12:37.760 --> 0:12:39.960 supposed to be like your venture capitalist and You're supposed 0:12:39.960 --> 0:12:42.160 to pitch an idea to them. And I was like, oh, 0:12:42.160 --> 0:12:44.520 that's easy. I like business, this will be no problem. 0:12:44.520 --> 0:12:46.520 I'll come up with it later. And so I kept 0:12:46.520 --> 0:12:48.160 putting it off, putting it off, and then one day 0:12:48.160 --> 0:12:50.480 I was late to class like normal, and so I 0:12:50.559 --> 0:12:52.400 picked up a backpack and it happened to be raining 0:12:52.400 --> 0:12:56.320 this day, true story, and I'm running the class and 0:12:56.440 --> 0:12:58.080 on the way to class, I step in the puddle. 0:12:58.200 --> 0:13:00.800 My foot gets soaked, and I get to class. I'm 0:13:00.800 --> 0:13:02.680 like panting, right, I'm like out of breath, I'm late, 0:13:02.800 --> 0:13:04.960 I'm wet, And then the teacher comes up to me 0:13:05.000 --> 0:13:06.960 and she goes just pretty, this is is your turn. I'm 0:13:07.000 --> 0:13:09.680 like my turn for what She's like, yes, you're turning 0:13:09.679 --> 0:13:12.319 to present the business idea. And I was like, oh 0:13:12.360 --> 0:13:14.400 my god. So now I'm standing in front of the class, 0:13:14.559 --> 0:13:17.520 dripping wet, my feet are soaked, and I'm trying to 0:13:17.559 --> 0:13:19.280 come up with a business idea. I'm like, just pretty think, 0:13:19.320 --> 0:13:22.160 just pretty think, just pretty think. And I don't know 0:13:22.160 --> 0:13:24.240 where this came from, but out of like nowhere, I 0:13:24.280 --> 0:13:25.920 had this idea. I was like, okay, what about water 0:13:25.960 --> 0:13:28.200 resistance socks because my feet were soaking wet and I 0:13:28.240 --> 0:13:32.640 hate wet socks, so off the top of my like tongue, 0:13:32.679 --> 0:13:36.640 I just like pitched this random water resistance sock idea 0:13:36.679 --> 0:13:38.319 to my class and I sit down and I was like, oh, 0:13:38.360 --> 0:13:42.359 you know, that's kind of a cool idea. So I 0:13:42.400 --> 0:13:44.760 went home that day and I was like, I wonder 0:13:44.800 --> 0:13:47.599 if these socks exist because I've never heard of them. 0:13:47.640 --> 0:13:49.439 So I started doing some research on it, and there's 0:13:49.480 --> 0:13:52.520 like waterproof socks for like hunters and people that are 0:13:52.559 --> 0:13:55.840 really involved in you know, the wilderness type stuff, but 0:13:55.880 --> 0:13:58.680 there were no like water resistant athletics socks and just 0:13:58.720 --> 0:14:01.280 regular daily wear socks. So then I went on a 0:14:01.280 --> 0:14:04.760 mission and I created these water resistance socks and ended 0:14:04.800 --> 0:14:06.720 up going to law school at the same time, because 0:14:06.760 --> 0:14:08.280 you know, my parents were like, Okay, if you don't 0:14:08.320 --> 0:14:10.280 become a doctor, you got to become an attorney. So 0:14:10.400 --> 0:14:12.200 I got into law school and I was working on 0:14:12.240 --> 0:14:16.920 the sock business, and I launched the sock business towards 0:14:17.000 --> 0:14:19.920 the end of my first year in law school, and 0:14:20.240 --> 0:14:23.600 right before the launch, I was approached by a marketing 0:14:23.640 --> 0:14:26.960 company who said, hey, Desperty, your about to launch this business. 0:14:27.360 --> 0:14:29.960 How about you hire us to do your marketing and 0:14:30.000 --> 0:14:31.760 we will make sure you get all these sales and 0:14:31.760 --> 0:14:34.280 will do all this advertising for you. And it was 0:14:34.320 --> 0:14:37.280 They're asking for quite a bit of money, but I 0:14:37.320 --> 0:14:39.400 was like, I don't know. I think I could do 0:14:39.400 --> 0:14:40.840 it myself, because at this point I thought I had 0:14:40.840 --> 0:14:43.160 some good marketing experience. And they were like, oh, no, 0:14:43.200 --> 0:14:46.520 don't worry. We have a one money back guarantee, so 0:14:46.560 --> 0:14:48.800 if you do not love our service, we will give 0:14:48.840 --> 0:14:51.080 you every penny back, even the money that we put 0:14:51.120 --> 0:14:54.200 in advertising. And I was like, okay, you know that's 0:14:54.240 --> 0:14:57.360 that's a fair uh approach. So I gave them the 0:14:57.360 --> 0:15:00.040 money and then I remember the very next day. So 0:15:00.040 --> 0:15:01.560 I gave them the money on one day, and the the 0:15:01.800 --> 0:15:03.880 next day I started to have this weird feeling in 0:15:03.920 --> 0:15:05.760 my gut. I was in the gym. I remember this. 0:15:05.800 --> 0:15:08.320 I was doing like the chest fly and I just 0:15:08.360 --> 0:15:09.600 had this weird feeling. I was like, you know, I 0:15:09.640 --> 0:15:11.320 just I feel like I can do it better. I 0:15:11.320 --> 0:15:14.760 don't know why. So I called up the guy and 0:15:14.800 --> 0:15:16.760 I was like, hey, man, um, I know we haven't 0:15:16.760 --> 0:15:18.880 started yet, but I want to just do the marketing myself. 0:15:18.880 --> 0:15:21.600 Could you refund me? And he was like, yeah, sure, 0:15:21.640 --> 0:15:23.920 no problem, and put you on hold. Puts me on hold. 0:15:24.640 --> 0:15:26.880 A minute goes by, two minutes go by, three minutes 0:15:26.920 --> 0:15:29.560 go by, and now I just hear like b b 0:15:30.000 --> 0:15:32.680 beep beep, and then the phone gets disconnected. So now 0:15:32.880 --> 0:15:34.680 call back and my call is not going through. It 0:15:34.720 --> 0:15:37.200 says this number, no number no longer exists. I called 0:15:37.200 --> 0:15:39.640 the other two numbers that I have, no one's picking up, 0:15:40.120 --> 0:15:43.360 and that's when I realized I just got screwed. Um. 0:15:43.840 --> 0:15:46.640 So I called up an attorney, found out that my 0:15:46.680 --> 0:15:48.960 money was gone, and at this point I had lost 0:15:49.000 --> 0:15:52.520 pretty much all our marketing budget, but our sock business 0:15:52.520 --> 0:15:55.760 did really well. We ended up doing just overs worth 0:15:55.760 --> 0:15:59.560 of pre orders in the first thirty days. So I 0:15:59.600 --> 0:16:03.040 was like, Okay, this sucks. This sucks, like there's so 0:16:03.040 --> 0:16:05.520 many entrepreneurs out there trying to start a business, but 0:16:05.600 --> 0:16:07.320 then there's people like this that are like trying to 0:16:07.400 --> 0:16:10.240 hurt entrepreneurs. So that's when I was like, you know, 0:16:10.280 --> 0:16:12.160 what do I do? So I ended up putting out 0:16:12.160 --> 0:16:14.200 this class on you. DEMI just I don't even know 0:16:14.200 --> 0:16:15.840 what you DEMI was at the time. I was just 0:16:15.880 --> 0:16:18.120 so irritated, and I wrote this, put this class out 0:16:18.120 --> 0:16:20.080 there and how to launch a business without getting screwed over, 0:16:21.080 --> 0:16:24.200 and I titled it under Minority Mindset. I don't know why. 0:16:24.280 --> 0:16:26.400 I just always felt that I had this minority mindset 0:16:26.520 --> 0:16:29.480 where I thought different than the majority of people, and 0:16:29.560 --> 0:16:31.640 so I put it out there not really thinking much. 0:16:32.240 --> 0:16:35.160 And there were so many people that enrolled in this 0:16:35.280 --> 0:16:38.160 course and they really liked it, and they were like, dude, 0:16:38.480 --> 0:16:41.840 can you please get on social media because your content 0:16:41.920 --> 0:16:44.840 is really good? And I was like, okay, I'm running 0:16:44.880 --> 0:16:47.080 a sock business, but I'll start a minority mindset district 0:16:47.120 --> 0:16:51.120 camp page. So I started this Instagram page called Minority Mindset. 0:16:51.240 --> 0:16:53.280 Of the whole concept of just thinking differently than the 0:16:53.360 --> 0:16:56.880 majority of people. So this meant starting a business if 0:16:56.880 --> 0:17:00.440 that's what your passion was, following your dreams, managing your 0:17:00.440 --> 0:17:03.400 money smartly. And I started putting random pieces of content 0:17:03.440 --> 0:17:05.400 that came to my mind on Instagram. I don't really 0:17:05.400 --> 0:17:06.960 think much of it because I don't know much of this, 0:17:07.080 --> 0:17:11.680 like online digital space. I just thought I was selling products, 0:17:11.680 --> 0:17:16.560 selling socks. And then slowly people on Instagram were like, hey, 0:17:16.640 --> 0:17:20.960 just start a podcast, start a blog. And I didn't 0:17:21.000 --> 0:17:22.920 know how podcast was at the time. So again I'll 0:17:22.920 --> 0:17:25.160 show you how naive I was. So I was like, 0:17:25.440 --> 0:17:28.280 uh no, I'm not gonna start a podcast and blog. 0:17:28.640 --> 0:17:31.040 I'm not very good at writing, so no, I can't 0:17:31.040 --> 0:17:33.280 do a blog, but I'll start a YouTube channel. I 0:17:33.359 --> 0:17:35.119 knew what YouTube was, and I like talking, and I 0:17:35.600 --> 0:17:37.399 think I was good at talking, so I was like, 0:17:37.400 --> 0:17:40.200 I'll start a YouTube channel. So I started making videos 0:17:40.240 --> 0:17:44.520 about money management and investing and launching a business, just 0:17:44.520 --> 0:17:46.960 from my own experience, things that I wish somebody would 0:17:46.960 --> 0:17:49.400 have told me when I was getting started. At this point, 0:17:49.440 --> 0:17:51.639 I kind of hit this crossroads, were like, Okay, the 0:17:51.760 --> 0:17:55.280 sock business is cool, it's making money, but our patent 0:17:55.720 --> 0:17:58.200 got denied, like our water resistant technology that we had 0:17:58.359 --> 0:18:00.920 the patent was denied, so we'd have to go all 0:18:00.960 --> 0:18:03.520 into just building a sock brand. But I'm not too 0:18:03.600 --> 0:18:06.280 passionate about socks. Like it's cool. I'm making money, but 0:18:06.480 --> 0:18:07.919 at the end of the day of socks, right, I 0:18:07.960 --> 0:18:10.560 learned my lesson with the entertainment business, where you know 0:18:10.600 --> 0:18:14.320 your passion, your interest really matters. Minority mindset. I'm not 0:18:14.400 --> 0:18:16.960 making much money, I'm not actually making any money, but 0:18:17.000 --> 0:18:19.360 it's fun and it's cool, and I actually really love 0:18:19.520 --> 0:18:23.000 talking about money management and entrepreneurship and following your dreams 0:18:23.040 --> 0:18:25.560 and the whole idea of taking different than the majority 0:18:25.560 --> 0:18:27.280 of people. So I decided to go all in with 0:18:27.320 --> 0:18:31.440 minority mindset. And now we are a full financial news 0:18:31.440 --> 0:18:35.120 and education company and we published a daily financial news letter. 0:18:35.240 --> 0:18:38.280 We have articles published on our website every single day 0:18:38.320 --> 0:18:41.160 related to the financial news and financial education, and then 0:18:41.520 --> 0:18:44.840 on YouTube we published videos related to financial news and 0:18:44.840 --> 0:18:47.760 financial education. Nice dude, Well, hey, hey, we want to 0:18:47.800 --> 0:18:49.879 ask you more about minority mindset and kind of what 0:18:49.920 --> 0:18:52.280 you're up to right now and how things are going 0:18:52.600 --> 0:18:54.439 on that front, and also just kind of you know, 0:18:54.480 --> 0:18:58.120 what your philosophy is behind minority mindset. So we'll get 0:18:58.119 --> 0:19:10.080 to some of those questions right after this break. All right, Joe, 0:19:10.080 --> 0:19:12.000