1 00:00:06,440 --> 00:00:10,160 Speaker 1: Is that time again. It's time for the b a 2 00:00:10,560 --> 00:00:14,120 Speaker 1: q a, the b a q a, the b a 3 00:00:14,520 --> 00:00:18,320 Speaker 1: q a, the b a q a. Okay, it's time 4 00:00:18,360 --> 00:00:21,560 Speaker 1: for brown ambition question and answers. You have questions, we 5 00:00:21,680 --> 00:00:24,799 Speaker 1: have answers. Ish If you're not your mama, We're not 6 00:00:24,840 --> 00:00:27,960 Speaker 1: your financial advisor, we're not your doctor, your therapist. We 7 00:00:28,200 --> 00:00:30,520 Speaker 1: just two brown girls on the Internet doing the best 8 00:00:30,560 --> 00:00:31,440 Speaker 1: we can. Okay. 9 00:00:32,080 --> 00:00:33,920 Speaker 2: I don't want to be served with a lawsuit in 10 00:00:33,960 --> 00:00:36,559 Speaker 2: the middle of Wegmans, y'all. Nah no, no, no, no, 11 00:00:36,560 --> 00:00:39,440 Speaker 2: no no. These are answers with the side of t 12 00:00:41,280 --> 00:00:43,760 Speaker 2: just coming from you know, your financial besties who have 13 00:00:43,880 --> 00:00:46,720 Speaker 2: ideas but not all of your information. So take it 14 00:00:46,760 --> 00:00:49,000 Speaker 2: with a giant grain of salt. But we got some 15 00:00:49,159 --> 00:00:54,240 Speaker 2: juicy business questions today, potentially a baby pyramid scheme. We 16 00:00:54,280 --> 00:00:57,480 Speaker 2: have to save some from someone from So let's do it. 17 00:00:57,600 --> 00:00:58,720 Speaker 2: Where should we start? 18 00:00:59,120 --> 00:00:59,520 Speaker 1: All right? 19 00:00:59,600 --> 00:01:03,160 Speaker 2: This from a listener who wants to remain anonymous, And 20 00:01:03,440 --> 00:01:06,360 Speaker 2: they say, I took out a five thousand dollars loan 21 00:01:06,480 --> 00:01:08,959 Speaker 2: to help with startup costs of a new business venture. 22 00:01:09,360 --> 00:01:12,160 Speaker 2: The payments are one hundred dollars a month for five 23 00:01:12,280 --> 00:01:15,399 Speaker 2: or six years. I'm expecting to profit two hundred to 24 00:01:15,440 --> 00:01:18,480 Speaker 2: three hundred dollars a month initially from my business. My 25 00:01:18,600 --> 00:01:21,240 Speaker 2: question is should I use those profits to pay off 26 00:01:21,240 --> 00:01:23,160 Speaker 2: the loan or should I use my nine to five 27 00:01:23,280 --> 00:01:26,160 Speaker 2: income to pay off the loan and use the profits 28 00:01:26,200 --> 00:01:30,240 Speaker 2: to continue to grow slash expand this new business. Thanks 29 00:01:30,280 --> 00:01:33,319 Speaker 2: in advance for exclamation marks. 30 00:01:33,800 --> 00:01:37,560 Speaker 1: Well Annie aka anonymous, Honestly, me and Andy were like 31 00:01:37,560 --> 00:01:40,520 Speaker 1: potato patato. I mean, well, I guess on the if 32 00:01:40,560 --> 00:01:45,960 Speaker 1: we're being super techy technical right technical Tuesday, I would say, 33 00:01:46,080 --> 00:01:50,560 Speaker 1: because you want to make sure ideally that the business 34 00:01:50,600 --> 00:01:53,720 Speaker 1: is looping in the business. But everyone knows in the beginning. 35 00:01:53,800 --> 00:01:56,720 Speaker 1: You know that it's you personally and your job likely 36 00:01:56,800 --> 00:02:01,080 Speaker 1: or whatever side husele you have that is funding the business. 37 00:02:01,120 --> 00:02:03,480 Speaker 1: But if your business is able to pay off the 38 00:02:03,520 --> 00:02:06,720 Speaker 1: loan that you took, certainly you can do so. But 39 00:02:06,880 --> 00:02:08,400 Speaker 1: you paying it off with your nine to five it 40 00:02:08,400 --> 00:02:10,800 Speaker 1: doesn't really I just say all that to say it doesn't. 41 00:02:11,040 --> 00:02:13,880 Speaker 1: I want to say it doesn't matter because you personally 42 00:02:13,960 --> 00:02:15,800 Speaker 1: took off the loan out the loan, not the business, 43 00:02:15,800 --> 00:02:16,680 Speaker 1: so you owe it. 44 00:02:17,040 --> 00:02:17,280 Speaker 2: Yeah. 45 00:02:17,280 --> 00:02:18,880 Speaker 1: But if it was me, honestly, I probably would just 46 00:02:18,880 --> 00:02:21,040 Speaker 1: say I took out the loan, I'll pay it back. 47 00:02:21,120 --> 00:02:23,280 Speaker 1: I'll use my money to invest back in my business. 48 00:02:23,560 --> 00:02:26,160 Speaker 1: Because I'm working, I don't necessarily need the business funds 49 00:02:26,240 --> 00:02:28,960 Speaker 1: just yet, so instead I'll just reinvest. That's likely what 50 00:02:29,000 --> 00:02:31,280 Speaker 1: I would do. But if you don't do that, it's 51 00:02:31,320 --> 00:02:34,720 Speaker 1: not wrong technically, I don't think. What do you think, Mandra, Yeah, 52 00:02:34,800 --> 00:02:35,400 Speaker 1: I mean I don't. 53 00:02:35,400 --> 00:02:37,400 Speaker 2: I'm not mad at the idea of thinking of your 54 00:02:37,440 --> 00:02:40,640 Speaker 2: business and personal expenses differently. Yes, I wish, even in 55 00:02:40,680 --> 00:02:42,640 Speaker 2: my first year of business, and I know this. I 56 00:02:42,680 --> 00:02:44,760 Speaker 2: know that you it's better off. You're better off just 57 00:02:44,840 --> 00:02:47,760 Speaker 2: keeping everything simple. But sometimes I would run out of 58 00:02:47,840 --> 00:02:50,360 Speaker 2: checks from my personal account and then just like, let 59 00:02:50,440 --> 00:02:52,240 Speaker 2: me get these MANDI money checks real quick. I saw 60 00:02:53,320 --> 00:02:55,480 Speaker 2: so maybe the landscaper got a check from my business 61 00:02:55,560 --> 00:02:55,959 Speaker 2: last week. 62 00:02:56,000 --> 00:02:56,560 Speaker 1: Maybe he did. 63 00:02:56,680 --> 00:02:59,520 Speaker 2: And it's fine. But I like the idea of putting 64 00:02:59,520 --> 00:03:01,800 Speaker 2: it in two different buckets because you know, and it 65 00:03:01,840 --> 00:03:04,400 Speaker 2: also it's like what we say to name your savings accounts, 66 00:03:04,400 --> 00:03:06,960 Speaker 2: almost like give that money a job. And if you 67 00:03:07,040 --> 00:03:09,560 Speaker 2: tell yourself, oh, this is my business profit, you're more 68 00:03:09,639 --> 00:03:11,840 Speaker 2: likely to probably use it for those business expenses and 69 00:03:11,880 --> 00:03:14,519 Speaker 2: maybe keep it separate and not dip into it when 70 00:03:14,960 --> 00:03:17,079 Speaker 2: you know you run out of checks in your landscaper 71 00:03:17,160 --> 00:03:18,959 Speaker 2: is like knock, knock my money. 72 00:03:18,960 --> 00:03:21,760 Speaker 1: In the beginning of businesses, it's really messy. You try 73 00:03:21,760 --> 00:03:23,720 Speaker 1: it to be. It's like high school. You know you're 74 00:03:23,720 --> 00:03:25,519 Speaker 1: gonna be messy girls high school, but try not to 75 00:03:25,560 --> 00:03:28,600 Speaker 1: be as messy. 76 00:03:27,960 --> 00:03:31,600 Speaker 2: Trying, but I keep doing. It's not about me, it's about. 77 00:03:33,440 --> 00:03:35,480 Speaker 1: Yeah, so like yeah, so, like, like Bettie said, if 78 00:03:35,480 --> 00:03:38,680 Speaker 1: you could keep it separating clean, that's ideal. One thing 79 00:03:38,680 --> 00:03:40,040 Speaker 1: I will say. I was just telling what this one 80 00:03:40,080 --> 00:03:42,120 Speaker 1: to my one of my mentees, and I was telling 81 00:03:42,160 --> 00:03:45,160 Speaker 1: her because her finances she's like year two and a 82 00:03:45,200 --> 00:03:48,400 Speaker 1: half and her taxes were just a mess. And I 83 00:03:48,440 --> 00:03:50,960 Speaker 1: had told her in the very beginning, look into maybe 84 00:03:51,000 --> 00:03:54,560 Speaker 1: having a bookkeeper, because you know, although she has a 85 00:03:54,600 --> 00:03:58,280 Speaker 1: financial background, she's got her degree in finance, still running, 86 00:03:58,320 --> 00:04:00,640 Speaker 1: you know, doing your business finance on top of everything else. 87 00:04:00,680 --> 00:04:03,080 Speaker 1: So I'm like a bookkeeper girl, you know, twenty thirty 88 00:04:03,120 --> 00:04:05,200 Speaker 1: bucks an hour. You want them to create a profit 89 00:04:05,240 --> 00:04:07,320 Speaker 1: and law statement every month because that's what you'll give 90 00:04:07,360 --> 00:04:09,520 Speaker 1: to your accountant so you're not scrambling at the end 91 00:04:09,520 --> 00:04:12,160 Speaker 1: of the year. Of course, you didn't listen. We never listened, girl. 92 00:04:12,200 --> 00:04:13,840 Speaker 1: I didn't do my taxes for the first two years 93 00:04:13,840 --> 00:04:16,159 Speaker 1: of having a business. My accountant had to run me 94 00:04:16,200 --> 00:04:20,160 Speaker 1: down in Shopwright, which is a major literal. Carlos man 95 00:04:20,240 --> 00:04:23,960 Speaker 1: me down shop right, Carlo, Yes, I saw him in Shopwright, Mandy. 96 00:04:24,000 --> 00:04:26,880 Speaker 1: I tried to make a youth joke. He said, no, 97 00:04:27,480 --> 00:04:31,279 Speaker 1: you come here now. Just imagine it's smaller. 98 00:04:31,800 --> 00:04:33,799 Speaker 2: You know, it was baby Budgetissa. She was a shopwright, 99 00:04:33,880 --> 00:04:34,480 Speaker 2: not Whole. 100 00:04:34,240 --> 00:04:37,600 Speaker 1: Foods for those who don't know. Shop Rights, like on 101 00:04:37,640 --> 00:04:41,120 Speaker 1: the East Coast, is very it's very low cost supermarket. 102 00:04:41,360 --> 00:04:44,200 Speaker 1: And so Carlos is our brown and mission accountant too. 103 00:04:44,200 --> 00:04:45,240 Speaker 1: He's super nice and dope. 104 00:04:46,160 --> 00:04:46,840 Speaker 2: Like yeah. 105 00:04:47,200 --> 00:04:49,440 Speaker 1: He was like, Tiffany, I have been called me what 106 00:04:49,480 --> 00:04:50,720 Speaker 1: he had been calling a text me And I was 107 00:04:50,760 --> 00:04:52,400 Speaker 1: like la la la la la la la la la la. 108 00:04:52,440 --> 00:04:55,159 Speaker 1: So yeah, so just imagine me in Shopwright with the 109 00:04:55,160 --> 00:04:57,640 Speaker 1: big old Shopwright cart, trying to make a quick turn 110 00:04:57,680 --> 00:05:00,440 Speaker 1: down the aisle, and Carlos was like, Tiffany, I was like, 111 00:05:00,680 --> 00:05:02,640 Speaker 1: if you know Carlos, He's like, I don't know. I 112 00:05:02,680 --> 00:05:04,520 Speaker 1: won't even say he's short. Sorry Carlos, but he made 113 00:05:04,520 --> 00:05:06,719 Speaker 1: me like might head a little shorter? So he was 114 00:05:06,720 --> 00:05:08,760 Speaker 1: like timpany, but he has like the biggest, brightest smile. 115 00:05:08,800 --> 00:05:10,720 Speaker 1: He is so friendly, and he was like, what are 116 00:05:10,760 --> 00:05:12,640 Speaker 1: you doing. I was like no, no, no. He's like, do 117 00:05:12,680 --> 00:05:14,320 Speaker 1: you want to go to jail? I was like I don't, 118 00:05:15,560 --> 00:05:17,719 Speaker 1: so he said honestly, he was so nice. 119 00:05:17,720 --> 00:05:18,919 Speaker 2: He was like, I want to go to jail. 120 00:05:20,880 --> 00:05:22,400 Speaker 1: He was like, what are you afraid of? I said, 121 00:05:22,440 --> 00:05:24,120 Speaker 1: I'm afraid of how much I owe. He said how 122 00:05:24,200 --> 00:05:25,640 Speaker 1: much do you think you o? And I said thirty 123 00:05:25,680 --> 00:05:28,159 Speaker 1: thousand dollars and he looked at me like did you 124 00:05:28,200 --> 00:05:31,400 Speaker 1: even make thirty thousand? I don't know why I had that. 125 00:05:31,760 --> 00:05:33,240 Speaker 1: I don't know why I had that in my mind. 126 00:05:33,320 --> 00:05:35,520 Speaker 2: He said, thirty gave me like fifteen k first, girl, 127 00:05:35,839 --> 00:05:36,480 Speaker 2: I just had to. 128 00:05:36,440 --> 00:05:37,960 Speaker 1: My mind it was thirty. I don't know why. And 129 00:05:37,960 --> 00:05:41,479 Speaker 1: then he was like, no, you o eight. I was like, oh, 130 00:05:41,560 --> 00:05:43,000 Speaker 1: he said, but you would have old. I think it 131 00:05:43,040 --> 00:05:45,280 Speaker 1: was like near four. I was like, well what, I oh? Eight? 132 00:05:45,279 --> 00:05:46,599 Speaker 1: He said, that's what happens when you don't find your 133 00:05:46,640 --> 00:05:48,640 Speaker 1: taxes in time and you don't pay for two years. 134 00:05:48,800 --> 00:05:53,160 Speaker 1: And I was like, okay, okay, that's so from then on, 135 00:05:54,160 --> 00:05:56,520 Speaker 1: you know, I said, no, more of that. So Manny 136 00:05:56,520 --> 00:05:59,000 Speaker 1: and I just sharing these horror stories just so you know. 137 00:05:59,400 --> 00:06:01,680 Speaker 1: And even so you are going to be a little 138 00:06:01,720 --> 00:06:04,240 Speaker 1: messy you're a new business owner, try to be as 139 00:06:04,360 --> 00:06:07,839 Speaker 1: little messy as possible, especially with your finances. Get yourself 140 00:06:07,880 --> 00:06:10,640 Speaker 1: an accountant, get yourself a bookkeeper who can do those 141 00:06:10,680 --> 00:06:14,320 Speaker 1: profit and law statements so you don't scramble. And remember 142 00:06:14,360 --> 00:06:17,440 Speaker 1: that your the money part of your business is literally 143 00:06:17,440 --> 00:06:20,520 Speaker 1: the life's blood, so it needs to flow in order 144 00:06:20,560 --> 00:06:23,080 Speaker 1: for your business to maintain. I don't care how successful 145 00:06:23,120 --> 00:06:25,840 Speaker 1: you are. If the financial part, the taxes, the bookkeeping, 146 00:06:25,880 --> 00:06:27,960 Speaker 1: all that stuff is a mess, then your business will 147 00:06:28,000 --> 00:06:29,760 Speaker 1: eventually catch up and be a mess too. 148 00:06:30,080 --> 00:06:33,480 Speaker 2: Yeah. I need Carlos to come track me down sometimes 149 00:06:33,520 --> 00:06:36,120 Speaker 2: because I switched to an escortor at the beginning of 150 00:06:36,200 --> 00:06:38,560 Speaker 2: this year, okay, and we did all that, and then 151 00:06:38,640 --> 00:06:40,440 Speaker 2: like the year just went by and I was still 152 00:06:40,440 --> 00:06:42,320 Speaker 2: doing things Like you know, when I was just at 153 00:06:42,320 --> 00:06:45,160 Speaker 2: a regular LLC, I would just pay myself, like write 154 00:06:45,160 --> 00:06:47,760 Speaker 2: myself a check basically, and I just kept doing that. 155 00:06:50,240 --> 00:06:52,360 Speaker 2: Last week, I had like the most moments at three 156 00:06:52,400 --> 00:06:55,440 Speaker 2: am when I was like ugh, email Carlos and his 157 00:06:55,520 --> 00:06:57,839 Speaker 2: wife Tian, who does my bookkeeping, and I was like, you, guys, 158 00:06:58,000 --> 00:06:59,880 Speaker 2: I don't know what I'm doing wrong, but I feel 159 00:06:59,880 --> 00:07:00,680 Speaker 2: like someone needs. 160 00:07:00,600 --> 00:07:01,200 Speaker 1: To look at me. 161 00:07:01,680 --> 00:07:03,760 Speaker 2: Can someone come look at me? Look at I just 162 00:07:03,760 --> 00:07:06,680 Speaker 2: wanted to be babysat. And they're like and he's like, no, no, no, no, 163 00:07:06,720 --> 00:07:08,200 Speaker 2: Now you're an escorp. You need to be a W 164 00:07:08,279 --> 00:07:10,600 Speaker 2: two And I'm like, yeah, I know, but shouldn't you 165 00:07:10,640 --> 00:07:13,360 Speaker 2: be doing these things even if you have an accountant, 166 00:07:13,480 --> 00:07:16,000 Speaker 2: like they don't always like they're busy. It's taxis and 167 00:07:16,000 --> 00:07:18,160 Speaker 2: all that kind of stuff. So even me, I'm like, okay, 168 00:07:18,240 --> 00:07:21,360 Speaker 2: someone needs to I don't know what something's off here, 169 00:07:21,560 --> 00:07:24,880 Speaker 2: but at least me reaching out and hopefully i'll I'll 170 00:07:24,880 --> 00:07:27,960 Speaker 2: start paying myself with it like an actual W two employe. 171 00:07:28,000 --> 00:07:30,640 Speaker 1: I mean you can take owner's draws, you know, like a. 172 00:07:31,280 --> 00:07:33,280 Speaker 2: That's what I've been doing. I just tell myself that. 173 00:07:33,360 --> 00:07:36,560 Speaker 2: I'm like yeah, but it was like, what's this? It 174 00:07:36,600 --> 00:07:37,880 Speaker 2: has to look like it? What do you mean? 175 00:07:38,040 --> 00:07:40,360 Speaker 1: Well, meaning like you can't just like make a transfer 176 00:07:40,400 --> 00:07:42,640 Speaker 1: from one account to another account. It has to like 177 00:07:42,720 --> 00:07:44,440 Speaker 1: you know, be sent to you as like, oh, this 178 00:07:44,520 --> 00:07:46,440 Speaker 1: is an owner's draw like you know, you get your 179 00:07:46,480 --> 00:07:48,640 Speaker 1: cause I get my regular I'm an escort for both 180 00:07:48,680 --> 00:07:51,280 Speaker 1: of my main companies as well. One of them, though 181 00:07:51,280 --> 00:07:53,360 Speaker 1: I'm considering going to a sea corp. So for those 182 00:07:53,360 --> 00:07:55,560 Speaker 1: of you who are like one of these letters, so an 183 00:07:55,800 --> 00:07:58,480 Speaker 1: LLC from what I remember, is like the way the 184 00:07:58,560 --> 00:08:00,800 Speaker 1: state looks at you as a relation to the way 185 00:08:00,840 --> 00:08:04,600 Speaker 1: you're incorporating, right, and so s corpse are also LLC's. 186 00:08:04,640 --> 00:08:08,240 Speaker 1: And what makes LLC's special is that it's a pass 187 00:08:08,320 --> 00:08:12,520 Speaker 1: through entity. That just means that when you pay taxes, 188 00:08:13,000 --> 00:08:16,160 Speaker 1: the business passes through to you and the tax is 189 00:08:16,160 --> 00:08:19,880 Speaker 1: going your personal tax return. Right, So when you are 190 00:08:19,920 --> 00:08:23,400 Speaker 1: a sole proprietor LLC or say like a partnership LLC, 191 00:08:23,600 --> 00:08:26,040 Speaker 1: you are still considered like self employed. When you become 192 00:08:26,080 --> 00:08:28,960 Speaker 1: an es corp. That means Mandy officially is a is 193 00:08:29,000 --> 00:08:31,440 Speaker 1: an employee of her business and she no longer has 194 00:08:31,520 --> 00:08:35,160 Speaker 1: to pay self employment tax. That's the benefit from adding 195 00:08:35,559 --> 00:08:38,800 Speaker 1: es corp to your LLC. It's like, ooh, but that 196 00:08:38,880 --> 00:08:41,040 Speaker 1: typically you don't You shouldn't do that probably around maybe 197 00:08:41,080 --> 00:08:43,680 Speaker 1: like one hundred thousand a year mark you though, because 198 00:08:43,679 --> 00:08:47,560 Speaker 1: then it's like, okay, now my self employment tax is 199 00:08:47,600 --> 00:08:50,160 Speaker 1: going to be too expensive if you're making under one 200 00:08:50,200 --> 00:08:53,040 Speaker 1: hundred thousand dollars a year. Self employment tax you know, 201 00:08:53,120 --> 00:08:54,880 Speaker 1: in relation to the other taxes you would pay as 202 00:08:54,920 --> 00:08:57,880 Speaker 1: an es corp, is probably manageable. Once you start to 203 00:08:57,880 --> 00:09:00,160 Speaker 1: make six figures are more considering. You want to talk 204 00:09:00,200 --> 00:09:02,440 Speaker 1: to your attorney, talk to your accountant. They'll help guide 205 00:09:02,480 --> 00:09:05,600 Speaker 1: you and they'll do they'll see taxes as a sole 206 00:09:05,679 --> 00:09:09,600 Speaker 1: proprietor LLC taxes as a as an es corp. And 207 00:09:09,640 --> 00:09:11,640 Speaker 1: then you know, they'll let you know where you know 208 00:09:11,679 --> 00:09:14,200 Speaker 1: you'll save. And so you move over to the LLC side. 209 00:09:14,240 --> 00:09:16,560 Speaker 1: You are now an employee. So Mandy is no longer 210 00:09:16,679 --> 00:09:19,720 Speaker 1: self employed. She has to pay herself a salary. 211 00:09:20,360 --> 00:09:21,640 Speaker 2: You know it's the worst. 212 00:09:21,880 --> 00:09:26,079 Speaker 1: Yea, Now that's what it starts to get out to 213 00:09:26,080 --> 00:09:28,400 Speaker 1: pay payroll taxes though, because that's where I'm like, damn, 214 00:09:28,640 --> 00:09:30,440 Speaker 1: I'm behind three months on payroll taxes. 215 00:09:30,440 --> 00:09:32,760 Speaker 2: Now, yes, I've never ahead. 216 00:09:32,800 --> 00:09:34,880 Speaker 1: I'm telling you, like, honestly, I've made so many mistakes. 217 00:09:34,920 --> 00:09:37,319 Speaker 1: I'm not even because first of all, Carlo said it, 218 00:09:37,320 --> 00:09:38,720 Speaker 1: I think it's time to become a sea corp. Now, 219 00:09:38,720 --> 00:09:40,520 Speaker 1: when you're a sea corp, it is not an LLC. 220 00:09:41,040 --> 00:09:44,480 Speaker 1: It does not pass through onto your personal taxes. And 221 00:09:44,520 --> 00:09:46,280 Speaker 1: when I say passed through on your personal taxes, I 222 00:09:46,320 --> 00:09:49,240 Speaker 1: mean this that your company makes one hundred thousand dollars, 223 00:09:49,760 --> 00:09:53,000 Speaker 1: you spend fifty thousand, and there's fifty thousand left over. 224 00:09:53,280 --> 00:09:57,000 Speaker 1: Maybe of the fifty you give yourself twenty five for payment, 225 00:09:57,440 --> 00:09:59,560 Speaker 1: and then you say, I'm going to save twenty five. Oooh, 226 00:09:59,800 --> 00:10:03,000 Speaker 1: the the government does not care that saved twenty five. 227 00:10:03,120 --> 00:10:05,960 Speaker 1: It's money that was earned and not spent on the business, 228 00:10:06,120 --> 00:10:08,440 Speaker 1: so they look at it as your earned income. So 229 00:10:08,480 --> 00:10:10,400 Speaker 1: you're going to have to pay taxes on the twenty 230 00:10:10,440 --> 00:10:12,800 Speaker 1: five you received and the twenty five you do not receive. 231 00:10:13,320 --> 00:10:15,160 Speaker 1: I did not know that. In the beginning, I was like, 232 00:10:15,200 --> 00:10:17,360 Speaker 1: why am I? I felt broke. I was paying so 233 00:10:17,400 --> 00:10:20,120 Speaker 1: much in taxes, not realizing that my company should be 234 00:10:20,200 --> 00:10:23,160 Speaker 1: chipping in because some of that money was still left 235 00:10:23,200 --> 00:10:25,800 Speaker 1: over in the company for savings, and so that's just 236 00:10:25,840 --> 00:10:28,640 Speaker 1: the whole thing. But then I switched to I thought 237 00:10:28,679 --> 00:10:30,800 Speaker 1: a sea corp. We had felt out the paperwork, didn't 238 00:10:30,800 --> 00:10:34,200 Speaker 1: realize it didn't go through. A sea corp is different 239 00:10:34,200 --> 00:10:36,640 Speaker 1: in that you are now an employee, just like anes corp, 240 00:10:36,840 --> 00:10:39,439 Speaker 1: but except for it's not a pass through the company. 241 00:10:39,480 --> 00:10:41,280 Speaker 1: Will pay its own taxes. It doesn't pass on to 242 00:10:41,360 --> 00:10:44,280 Speaker 1: your personal like for example, Jeff Bezos. Imagine him paying, 243 00:10:44,840 --> 00:10:47,160 Speaker 1: you know, taxes on the trillion dollars. You know he 244 00:10:47,320 --> 00:10:50,200 Speaker 1: paid taxes in a copy now, but let's pretend like 245 00:10:50,200 --> 00:10:53,360 Speaker 1: he paid so Sea Corps. As you start to make more, 246 00:10:53,840 --> 00:10:56,240 Speaker 1: you know, maybe like seven figures or maybe multiple six 247 00:10:56,280 --> 00:10:58,480 Speaker 1: figures than a Sea corp might make more sense. I 248 00:10:58,520 --> 00:11:00,160 Speaker 1: thought I was a seed court Mandy, and we were 249 00:11:00,160 --> 00:11:01,960 Speaker 1: filing taxes for like two or three telling me that 250 00:11:02,000 --> 00:11:04,440 Speaker 1: you were something like that. I was not a Sea corp. 251 00:11:08,160 --> 00:11:08,319 Speaker 2: Yo. 252 00:11:08,440 --> 00:11:11,400 Speaker 1: When I tell you the amount of undoing, the amount 253 00:11:11,440 --> 00:11:13,920 Speaker 1: of undoing, I was like, say what now? So you 254 00:11:13,960 --> 00:11:16,040 Speaker 1: say what now? I was like, so, I guess we applied, 255 00:11:16,160 --> 00:11:18,280 Speaker 1: but you know it didn't go through or whatever happened. 256 00:11:18,760 --> 00:11:21,760 Speaker 1: And I saw I'm filing taxes incorrectly when I tell 257 00:11:21,800 --> 00:11:24,920 Speaker 1: you the amount of money because Sea Corps technically lowered 258 00:11:24,920 --> 00:11:28,120 Speaker 1: my tax my tax burden. So they're like, oh, sis, 259 00:11:28,360 --> 00:11:30,080 Speaker 1: you wasn't supposed to get them breaks. Not only do 260 00:11:30,160 --> 00:11:32,080 Speaker 1: you owe us, you owe us money on what you 261 00:11:32,200 --> 00:11:35,560 Speaker 1: owed as so I know, I'm just saying all this 262 00:11:35,640 --> 00:11:38,480 Speaker 1: to say, like, child, get your finances in order get 263 00:11:38,520 --> 00:11:41,160 Speaker 1: your finances in order when it comes to your business. 264 00:11:41,160 --> 00:11:43,160 Speaker 1: So good luck. Sorry, I hope we didn't scare you. 265 00:11:44,920 --> 00:11:49,920 Speaker 2: It's like, it's just a five thousand dollars loan dollars 266 00:11:49,960 --> 00:11:51,400 Speaker 2: a month. That's a pretty good that's all. That's a 267 00:11:51,480 --> 00:11:55,880 Speaker 2: nice you know, a monthly payment there. Okay, well, let's 268 00:11:55,920 --> 00:11:58,000 Speaker 2: that was that. That went in the directions that I'm 269 00:11:58,000 --> 00:11:59,520 Speaker 2: so glad it went in. But let's take a quick 270 00:11:59,600 --> 00:12:02,560 Speaker 2: break and we'll come back with your next question for 271 00:12:02,559 --> 00:12:06,800 Speaker 2: the BAQA. All right, we are back and let's get 272 00:12:06,800 --> 00:12:11,680 Speaker 2: into our second question. This one's interesting from Jessica. Jessica says, 273 00:12:11,800 --> 00:12:14,560 Speaker 2: I met a wonderful girl in a retail store one day. 274 00:12:14,760 --> 00:12:17,000 Speaker 2: She was so nice and invited my boyfriend and I 275 00:12:17,080 --> 00:12:19,559 Speaker 2: for coffee. She was really well put together and was 276 00:12:19,600 --> 00:12:22,360 Speaker 2: excited to leave her corporate job and pursue her passion. 277 00:12:22,800 --> 00:12:24,920 Speaker 2: When we got to coffee with her, she started to 278 00:12:25,000 --> 00:12:28,800 Speaker 2: mention a mentorship and being part of a mentorship opportunity 279 00:12:28,800 --> 00:12:31,679 Speaker 2: from wealthy people. In short, I'm pretty sure it was 280 00:12:31,720 --> 00:12:33,880 Speaker 2: a pyramid setup. Do you all have a point of 281 00:12:33,960 --> 00:12:35,880 Speaker 2: view on these? I don't think it's for me, but 282 00:12:35,880 --> 00:12:38,000 Speaker 2: I would love to know your insights since some people 283 00:12:38,080 --> 00:12:42,840 Speaker 2: seem to be successful with it, that story took a turn. 284 00:12:42,880 --> 00:12:44,480 Speaker 2: I met a wonderful girl. I was like, oh, it's 285 00:12:44,520 --> 00:12:46,680 Speaker 2: a love story. Oh no, it's a horror story. 286 00:12:48,280 --> 00:12:50,600 Speaker 1: I was thinking. I was like and then it was like, wait, 287 00:12:50,800 --> 00:12:52,680 Speaker 1: is this a swinger story? What's happening? Because it's like 288 00:12:52,720 --> 00:12:56,079 Speaker 1: me and my boyfriend, I'm like, I'm confused. Yeah, what 289 00:12:56,120 --> 00:12:56,520 Speaker 1: are these? 290 00:12:56,640 --> 00:12:58,839 Speaker 2: Is there a wealthy people offering no bullship as a 291 00:12:58,840 --> 00:13:00,280 Speaker 2: pyramids game? I haven't heard of this. 292 00:13:00,960 --> 00:13:05,080 Speaker 1: I well I've heard of so right now. What's really 293 00:13:05,080 --> 00:13:07,560 Speaker 1: big that I've seen is that there are a lot 294 00:13:07,600 --> 00:13:11,880 Speaker 1: of masterminds that that's the new thing and so, but 295 00:13:12,080 --> 00:13:14,959 Speaker 1: not in the not with a pyramid structure. So not 296 00:13:15,080 --> 00:13:17,000 Speaker 1: like you know, you bring somebody in and so the 297 00:13:17,000 --> 00:13:19,040 Speaker 1: pyramid structure. Maybe you want to explain like what like 298 00:13:19,080 --> 00:13:21,120 Speaker 1: you know, like one of these like pyramid structure looks 299 00:13:21,160 --> 00:13:21,680 Speaker 1: like and then. 300 00:13:21,640 --> 00:13:25,680 Speaker 2: Blue la row And who's the people that sell the knives? 301 00:13:25,800 --> 00:13:27,200 Speaker 2: I don't know. I just know I have to save 302 00:13:27,280 --> 00:13:31,520 Speaker 2: several Yeah, So basically it's it's it's think of a pyramid. 303 00:13:31,559 --> 00:13:33,040 Speaker 2: You have the people at the very tippy top who 304 00:13:33,080 --> 00:13:36,240 Speaker 2: are actually making money, and then they recruit other people 305 00:13:36,280 --> 00:13:38,720 Speaker 2: to come in and start selling the product or getting 306 00:13:38,760 --> 00:13:42,960 Speaker 2: members into their into their business, and then those members 307 00:13:43,080 --> 00:13:45,480 Speaker 2: bring in other recruits, and then those recruits bring in 308 00:13:45,520 --> 00:13:47,880 Speaker 2: more recruits. And the lower down the pyramid that you get, 309 00:13:47,880 --> 00:13:50,559 Speaker 2: the harder it is to actually make money from it. 310 00:13:50,640 --> 00:13:54,560 Speaker 2: And yeah, they it's also called the multi level marketing 311 00:13:54,720 --> 00:13:59,360 Speaker 2: yes MLMs. MLMs, and I feel like there's a very 312 00:14:00,000 --> 00:14:04,240 Speaker 2: agressive public relations campaign to try to save face for MLMs, 313 00:14:04,320 --> 00:14:06,760 Speaker 2: and people are like really, you know, they get kind 314 00:14:06,760 --> 00:14:08,920 Speaker 2: of upset whenever you talk about them and dog on them, 315 00:14:08,960 --> 00:14:13,760 Speaker 2: but they target working home sorry women so often, especially 316 00:14:13,800 --> 00:14:16,000 Speaker 2: women who work from home or who are stay at 317 00:14:16,000 --> 00:14:19,920 Speaker 2: home mothers or parents, like and because of that population, 318 00:14:19,960 --> 00:14:22,600 Speaker 2: because they're coming for us, you know, I just feel 319 00:14:22,640 --> 00:14:25,120 Speaker 2: more like we have to really be careful and be 320 00:14:25,360 --> 00:14:29,280 Speaker 2: aware of what it is. So a mastermind. 321 00:14:29,920 --> 00:14:32,160 Speaker 1: So we'll also say this real quick about MLM. The 322 00:14:32,360 --> 00:14:36,600 Speaker 1: thing about MLM, the marker of it being unsavory is 323 00:14:36,640 --> 00:14:38,640 Speaker 1: that there's less a push for you to actually sell 324 00:14:38,680 --> 00:14:41,000 Speaker 1: the product or service and more push for you to recruit. 325 00:14:41,960 --> 00:14:44,000 Speaker 1: So it's like, wait, you know, like you have like 326 00:14:44,080 --> 00:14:47,600 Speaker 1: Lula Row, like literally it wasn't so much that the 327 00:14:47,600 --> 00:14:51,080 Speaker 1: people who were selling Luloo were actually making money selling 328 00:14:51,120 --> 00:14:54,120 Speaker 1: the leggings. It was if I can find a Mandy 329 00:14:54,280 --> 00:14:58,120 Speaker 1: underneath me, then she has a mandatory amouth that she 330 00:14:58,240 --> 00:15:02,080 Speaker 1: has to buy. So it literally wasn't like Mandy's selling us, 331 00:15:02,080 --> 00:15:03,960 Speaker 1: She's buying it. And so I get a percentage of 332 00:15:04,200 --> 00:15:06,560 Speaker 1: anything that Mandy has bought or sold. I get a 333 00:15:06,560 --> 00:15:08,760 Speaker 1: percentage of that. And so Mandy's like, well, dang, you know, 334 00:15:08,760 --> 00:15:10,560 Speaker 1: I'm running out of money. Let me sign up my sister. 335 00:15:10,760 --> 00:15:12,520 Speaker 1: So then her sister has to buy a certain amount. 336 00:15:12,720 --> 00:15:14,760 Speaker 1: So it was less about like, oh, selling this great 337 00:15:14,760 --> 00:15:16,920 Speaker 1: product or service and more about signing people up. So, 338 00:15:17,040 --> 00:15:20,120 Speaker 1: just so we're clear, that's why pyramid schemes and those 339 00:15:20,240 --> 00:15:24,600 Speaker 1: MLMs are so detrimental, because the underlying business is not 340 00:15:24,640 --> 00:15:27,680 Speaker 1: good business. You know, it's just about recruiting people versus 341 00:15:27,680 --> 00:15:30,560 Speaker 1: selling good things. But masterminds typically are different. 342 00:15:31,000 --> 00:15:32,920 Speaker 2: You were almost going to join the mastermind or did 343 00:15:32,960 --> 00:15:35,280 Speaker 2: you join the mastermind? You're gonna go to some kind 344 00:15:35,280 --> 00:15:37,920 Speaker 2: of conference. I feel like that, zions you too. 345 00:15:38,720 --> 00:15:40,520 Speaker 1: So yes, my business coach environment, it was a lot 346 00:15:40,520 --> 00:15:41,600 Speaker 1: of money. I want to say it was like ten 347 00:15:41,640 --> 00:15:44,400 Speaker 1: thousand dollars. You know, for that week or whatever. Yeah, 348 00:15:44,400 --> 00:15:47,440 Speaker 1: it's a lot. So but the thing about it is 349 00:15:47,440 --> 00:15:50,120 Speaker 1: is that there's no recruiting, Like it's not like hey, Tippy, 350 00:15:50,120 --> 00:15:52,400 Speaker 1: you bring somebody in, you get money. But it doesn't 351 00:15:52,400 --> 00:15:55,280 Speaker 1: mean that there that their masterminds can't be scams to 352 00:15:55,360 --> 00:15:58,520 Speaker 1: anything can be a scam. So a mastermind, at its core, 353 00:15:58,680 --> 00:16:02,440 Speaker 1: when it's good, is a group of people who are 354 00:16:02,480 --> 00:16:05,320 Speaker 1: working toward like whatever success. You know, we could all 355 00:16:05,320 --> 00:16:08,720 Speaker 1: be from different backgrounds, and then and you are supposed 356 00:16:08,760 --> 00:16:11,840 Speaker 1: to share the knowledge that you know and like almost 357 00:16:11,840 --> 00:16:13,680 Speaker 1: into a pot, and then people can kind of pull 358 00:16:13,720 --> 00:16:15,680 Speaker 1: from that pot like, oh, I know marketing, Well that's 359 00:16:15,680 --> 00:16:18,080 Speaker 1: great because I know copywriting. Well that's great because I know, 360 00:16:18,400 --> 00:16:20,680 Speaker 1: and you're supposed to you're supposed to share that. And 361 00:16:20,720 --> 00:16:25,000 Speaker 1: then typically there's someone maybe who is for some masterminds, 362 00:16:25,120 --> 00:16:27,800 Speaker 1: it's all peers, and for some masterminds there's like one 363 00:16:27,840 --> 00:16:30,720 Speaker 1: person that might be like the mentor of the mastermind. 364 00:16:30,880 --> 00:16:33,280 Speaker 1: And so like, I'm not opposed to masterminds. The only 365 00:16:33,280 --> 00:16:37,040 Speaker 1: thing now they've become so expensive and you wonder, like 366 00:16:37,080 --> 00:16:38,880 Speaker 1: what's the return. I certainly have friends who are in 367 00:16:38,920 --> 00:16:40,760 Speaker 1: some and they say that you know, it's been great, 368 00:16:40,760 --> 00:16:43,200 Speaker 1: Like it's all these wealthy people teaching other wealthy people 369 00:16:43,240 --> 00:16:45,800 Speaker 1: how to be wealthy. I've been to one, like I'm 370 00:16:45,800 --> 00:16:47,800 Speaker 1: went to Vegas. I remember, I can't remember how much 371 00:16:47,800 --> 00:16:49,160 Speaker 1: it was, but it was like for people who were 372 00:16:49,200 --> 00:16:51,520 Speaker 1: seven figures trying to be eight figures. And certainly I 373 00:16:51,600 --> 00:16:53,640 Speaker 1: learned a lot, but there was a lot of upselling 374 00:16:53,800 --> 00:16:56,520 Speaker 1: at that mastermind meaning at the end saying you learned 375 00:16:56,560 --> 00:16:58,280 Speaker 1: all of this, you can learn even more for a 376 00:16:58,400 --> 00:17:01,640 Speaker 1: hundred thousand dollars. Literally it was a twenty thousand dollars upsot. 377 00:17:02,040 --> 00:17:09,880 Speaker 1: I was like, bruh, I flew a economy here, so yeah, 378 00:17:09,920 --> 00:17:11,400 Speaker 1: but would you ever don more? 379 00:17:12,040 --> 00:17:16,000 Speaker 2: I don't know. I did invite myself to an informal 380 00:17:17,080 --> 00:17:21,399 Speaker 2: like an informal group of fellow online entrepreneurs and just 381 00:17:21,480 --> 00:17:23,560 Speaker 2: you know who get together on zoom every once in 382 00:17:23,600 --> 00:17:24,920 Speaker 2: a while. But it's not like a Paige. It's just 383 00:17:24,960 --> 00:17:28,280 Speaker 2: like a networking group because I'm really trying to want 384 00:17:28,320 --> 00:17:31,240 Speaker 2: I want to like find support and find like among 385 00:17:31,280 --> 00:17:33,720 Speaker 2: my peers and all that anyway, so that to me 386 00:17:33,800 --> 00:17:36,000 Speaker 2: has a value. But I'm not necessarily I don't know 387 00:17:36,040 --> 00:17:38,320 Speaker 2: if I'm I don't know. I'm always open to input. 388 00:17:38,359 --> 00:17:41,520 Speaker 2: And I have worked with a business coach and you know, 389 00:17:41,760 --> 00:17:44,760 Speaker 2: and I'm I'm definitely open to that, but I don't know, 390 00:17:44,880 --> 00:17:47,200 Speaker 2: Like I did get in. I did see an ad 391 00:17:47,240 --> 00:17:49,880 Speaker 2: for like a two day sort of one of those 392 00:17:49,880 --> 00:17:51,919 Speaker 2: is that what you were saying, like you're at seven figures, 393 00:17:51,920 --> 00:17:53,720 Speaker 2: you want to be eight or six figures or seven 394 00:17:53,800 --> 00:17:55,320 Speaker 2: or something like that. It was two days and it 395 00:17:55,359 --> 00:17:59,240 Speaker 2: was like fifteen thousand dollars and nah, no, I mean, 396 00:17:59,320 --> 00:18:02,400 Speaker 2: I don't think I'm able to invest that much from 397 00:18:02,440 --> 00:18:04,040 Speaker 2: what I'm making as a business. Like right now, I'm 398 00:18:04,080 --> 00:18:05,480 Speaker 2: kind of looking at the math and I'm like, oh, 399 00:18:05,480 --> 00:18:08,959 Speaker 2: that's a couple months worth of income, and nah, daycare 400 00:18:09,040 --> 00:18:12,080 Speaker 2: is expensive. So yeah, math at math and I at 401 00:18:12,080 --> 00:18:13,760 Speaker 2: a certain point, of course, you want to invest in 402 00:18:13,760 --> 00:18:17,000 Speaker 2: your business, and as a business owner, you know, depending 403 00:18:17,040 --> 00:18:19,359 Speaker 2: on how you structure it, those business expenses can be 404 00:18:19,920 --> 00:18:22,080 Speaker 2: deducted and like it actually helps you to reduce your 405 00:18:22,119 --> 00:18:24,160 Speaker 2: text liability. But I would want to I would say 406 00:18:24,200 --> 00:18:26,400 Speaker 2: to this person, you didn't mention the name of the program, 407 00:18:26,640 --> 00:18:28,280 Speaker 2: but I wouldn't sign up to anything. Right then, I 408 00:18:28,280 --> 00:18:30,439 Speaker 2: will google the hell out of it and look for 409 00:18:30,480 --> 00:18:34,280 Speaker 2: reviews and look for testimonials and be really. 410 00:18:34,080 --> 00:18:35,760 Speaker 1: Clear of the t online. 411 00:18:35,840 --> 00:18:38,359 Speaker 2: Yeah, I'm just surprised. What an old fashioned way to 412 00:18:38,400 --> 00:18:41,119 Speaker 2: recruit just meet someone in a store. I feel like 413 00:18:41,160 --> 00:18:43,119 Speaker 2: I got my don't talk to me face on like 414 00:18:43,320 --> 00:18:46,600 Speaker 2: stone cold, do not approach me like. 415 00:18:46,880 --> 00:18:49,919 Speaker 1: So, you know, it seems odd because it's like, now 416 00:18:50,440 --> 00:18:54,000 Speaker 1: here's the thing, Like it's it's one thing for like, Okay, 417 00:18:54,040 --> 00:18:56,879 Speaker 1: you are in this business space and someone says, hey, Mandy, 418 00:18:56,920 --> 00:18:59,240 Speaker 1: I know you started a business and you know this 419 00:18:59,280 --> 00:19:01,120 Speaker 1: is thing. This thing is working for me. But for 420 00:19:01,119 --> 00:19:02,560 Speaker 1: me to just be walking in the store, you don't 421 00:19:02,600 --> 00:19:05,080 Speaker 1: know anything about me. You know what what value add 422 00:19:05,119 --> 00:19:06,800 Speaker 1: are you adding? You know what I mean? So to me, 423 00:19:06,880 --> 00:19:11,000 Speaker 1: this rings like scammy Versus I might tell Mandy, Hey, Mandy, 424 00:19:11,040 --> 00:19:13,480 Speaker 1: you know last week last year, I spent a weekend 425 00:19:13,920 --> 00:19:16,320 Speaker 1: in Cobble learning from these people. I think it's a 426 00:19:16,359 --> 00:19:18,239 Speaker 1: really good idea. You should you should come. You know 427 00:19:18,680 --> 00:19:21,520 Speaker 1: that's different, like you know, so then Mandy might say, okay, 428 00:19:21,600 --> 00:19:24,159 Speaker 1: like I don't get paid if Mandy comes, and it 429 00:19:24,280 --> 00:19:26,480 Speaker 1: might be expensive, but I'm like, you know, I really 430 00:19:26,720 --> 00:19:28,399 Speaker 1: got to learn all these things and got to connect 431 00:19:28,400 --> 00:19:32,720 Speaker 1: with different people. So in general, masterminds are you know, 432 00:19:32,960 --> 00:19:36,040 Speaker 1: not bad ideas, it's just as long as you're clear 433 00:19:36,119 --> 00:19:39,520 Speaker 1: on what your desired outcome is. It's in alignment with 434 00:19:39,560 --> 00:19:41,800 Speaker 1: where you actually want to go. And like, you know, 435 00:19:41,800 --> 00:19:44,320 Speaker 1: I would definitely get some like referrals, like I said, 436 00:19:44,359 --> 00:19:46,479 Speaker 1: because all my friends are so many masterminds. Somebody these 437 00:19:46,480 --> 00:19:50,000 Speaker 1: masterminds Mandy fifty thousand dollars for the year, and I'm 438 00:19:50,080 --> 00:19:54,440 Speaker 1: just like, are they selling gold up in there? It 439 00:19:54,680 --> 00:19:56,320 Speaker 1: just and I've been in a couple and I'm not 440 00:19:56,359 --> 00:19:57,959 Speaker 1: gonna lie. We've gotten on the phone and I'm like, 441 00:19:58,359 --> 00:20:01,359 Speaker 1: so I've only ever joined free one. I mean, and 442 00:20:01,359 --> 00:20:02,959 Speaker 1: maybe that's why they haven't been so great. But I've 443 00:20:03,000 --> 00:20:04,480 Speaker 1: been on a couple and after a couple of calls, 444 00:20:04,480 --> 00:20:06,199 Speaker 1: I'm like, oh my god, this is not useful, this 445 00:20:06,240 --> 00:20:08,600 Speaker 1: is not helpful. So I've left. So maybe because they're 446 00:20:08,640 --> 00:20:14,960 Speaker 1: free so they weren't as focused, but pyramid schemes knew mastermind. 447 00:20:15,200 --> 00:20:19,600 Speaker 2: Maybe Yeah, I'm suspicious of like any business that's kind 448 00:20:19,600 --> 00:20:23,520 Speaker 2: of built on convincing people they can't do something on 449 00:20:23,560 --> 00:20:26,560 Speaker 2: their own that they need, you know, guidance or they 450 00:20:26,600 --> 00:20:30,440 Speaker 2: need this particular method or strategy. And as a career coach, 451 00:20:30,480 --> 00:20:33,439 Speaker 2: myself I think about that often because I want my 452 00:20:33,560 --> 00:20:36,800 Speaker 2: value to always be that I'm someone who can help 453 00:20:36,840 --> 00:20:40,760 Speaker 2: you see through blind spots and encourage and make you 454 00:20:40,760 --> 00:20:43,680 Speaker 2: feel more capable of doing it. And I love the 455 00:20:43,800 --> 00:20:46,119 Speaker 2: term coach. I've really I think in the past I 456 00:20:46,160 --> 00:20:48,640 Speaker 2: was always like coach and what is that? But I mean, 457 00:20:48,640 --> 00:20:50,960 Speaker 2: what better way to describe what it is that you 458 00:20:51,000 --> 00:20:54,040 Speaker 2: know I do through my work and actually helping people 459 00:20:54,040 --> 00:20:57,600 Speaker 2: be the best versions of themselves. But I would tell 460 00:20:57,680 --> 00:21:00,560 Speaker 2: someone immediately if I felt like I'm not probably the 461 00:21:00,640 --> 00:21:03,000 Speaker 2: right person for you right now or the right you 462 00:21:03,000 --> 00:21:05,920 Speaker 2: know what I mean. And even for my group coaching program, 463 00:21:06,040 --> 00:21:08,280 Speaker 2: I know one of them, one of the makers wanted 464 00:21:08,320 --> 00:21:11,640 Speaker 2: to know, is there a referral co a referral fee 465 00:21:11,760 --> 00:21:15,200 Speaker 2: if we refer people to makers? And I was like, no, 466 00:21:15,400 --> 00:21:17,240 Speaker 2: I don't want people to feel like they need to 467 00:21:17,280 --> 00:21:18,840 Speaker 2: refer people and they're going to make money off I 468 00:21:18,880 --> 00:21:20,720 Speaker 2: want you to refer people because you got so much 469 00:21:20,720 --> 00:21:22,639 Speaker 2: out of it, you know what I mean, And that 470 00:21:22,680 --> 00:21:23,920 Speaker 2: word of mouth is powerful. 471 00:21:23,960 --> 00:21:26,080 Speaker 1: With that, I feel like, you know, and maybe as 472 00:21:26,080 --> 00:21:28,000 Speaker 1: you grow you might have like a you know, someone 473 00:21:28,040 --> 00:21:30,959 Speaker 1: might actually bring in genuinely their sister or whatever, and 474 00:21:31,000 --> 00:21:33,199 Speaker 1: you I mean you you might reconsider because I mean 475 00:21:33,200 --> 00:21:35,600 Speaker 1: I don't have any referral programs either, but for example, 476 00:21:35,600 --> 00:21:37,840 Speaker 1: the Literature Academy, it's something I'm looking into because a 477 00:21:37,840 --> 00:21:39,399 Speaker 1: lot of people are like, oh my gosh, this is 478 00:21:39,400 --> 00:21:41,520 Speaker 1: what I'm wanting. So you know, it's been six years, 479 00:21:41,560 --> 00:21:43,720 Speaker 1: so I'm open to that. But a girl, if you 480 00:21:43,720 --> 00:21:45,320 Speaker 1: need a coach, you got two coaches right here. You 481 00:21:45,359 --> 00:21:47,480 Speaker 1: need a career coach, where can they? Where can she 482 00:21:47,520 --> 00:21:47,879 Speaker 1: find you? 483 00:21:47,960 --> 00:21:50,400 Speaker 2: Mandy oh mandymoney dot com? 484 00:21:51,160 --> 00:21:53,159 Speaker 1: Right? And then if you want a mentor, a mentor 485 00:21:53,240 --> 00:21:58,280 Speaker 1: in business, entrepreneurship, personal and professional development, and it's just 486 00:21:58,440 --> 00:22:01,600 Speaker 1: my mentor Tiffany dot com. So sis, And meanwhile, it's 487 00:22:01,600 --> 00:22:04,600 Speaker 1: ten months for me. So first of all, let me 488 00:22:04,680 --> 00:22:06,960 Speaker 1: let me laugh. Like, so, I sent real clear guidelines 489 00:22:06,960 --> 00:22:08,520 Speaker 1: about like what I will and will not do in 490 00:22:08,760 --> 00:22:11,320 Speaker 1: my mentor tivity space, and a woman emailed me was like, 491 00:22:11,359 --> 00:22:14,159 Speaker 1: I'm really disappointed because I expected that was gonna have 492 00:22:14,160 --> 00:22:17,040 Speaker 1: a one on one with you. I'm like, well, one, 493 00:22:17,160 --> 00:22:19,760 Speaker 1: it's clear in what like the video and what I wrote, 494 00:22:19,760 --> 00:22:22,160 Speaker 1: like when you sign up, But she was like, maybe 495 00:22:22,160 --> 00:22:25,919 Speaker 1: I'm being unrealistic. Assis, it's ten thousand a month Yo, 496 00:22:26,000 --> 00:22:29,359 Speaker 1: that's not even babysitting ten whole thouars a month. And 497 00:22:29,440 --> 00:22:31,520 Speaker 1: you thought that we were going to get on, you know. 498 00:22:31,560 --> 00:22:33,159 Speaker 1: And I really try to be clear. Every time I 499 00:22:33,160 --> 00:22:36,040 Speaker 1: teach a lesson, I'm like, hey, let's just re establish boundaries. 500 00:22:36,160 --> 00:22:38,840 Speaker 1: This is what it's gonna look like. Mom says, you 501 00:22:38,840 --> 00:22:39,920 Speaker 1: thought it's gonna get on a call, and I was 502 00:22:39,960 --> 00:22:42,480 Speaker 1: gonna be like, ooh child. Anyway. Now, don't get me wrong. 503 00:22:42,560 --> 00:22:45,239 Speaker 1: I do mentoring for like the ten people who are 504 00:22:45,240 --> 00:22:47,359 Speaker 1: mentor and it's free. We just talk, you know. But 505 00:22:47,440 --> 00:22:49,600 Speaker 1: I was just like, that's not what this is. This 506 00:22:49,640 --> 00:22:51,600 Speaker 1: is really digital group mentoring. I'm trying to make it 507 00:22:51,640 --> 00:22:53,719 Speaker 1: as accessible as possible. But I just thought that was 508 00:22:53,760 --> 00:22:57,439 Speaker 1: like a month. Says I would hate to be baby saying, yo, Chid, 509 00:22:57,440 --> 00:22:59,200 Speaker 1: because you must be like, here's your two panties, see 510 00:22:59,240 --> 00:23:00,359 Speaker 1: you next next week. 511 00:23:01,000 --> 00:23:03,160 Speaker 2: Girl. I mean, my cousin Anna makes twenty five dollars 512 00:23:03,200 --> 00:23:05,720 Speaker 2: an hour babysitting. How should I be a full time? No? 513 00:23:05,840 --> 00:23:07,880 Speaker 1: The children know I can't. 514 00:23:07,920 --> 00:23:11,719 Speaker 2: Other people's children know. Well, listen, you can buy your 515 00:23:11,720 --> 00:23:14,000 Speaker 2: own damn coffee. You know. You don't need someone else 516 00:23:14,040 --> 00:23:16,760 Speaker 2: to buy you a coffee in a random store. But 517 00:23:16,800 --> 00:23:19,640 Speaker 2: thanks for the fun, fun story, Jessica, and be safe 518 00:23:19,640 --> 00:23:22,159 Speaker 2: out there, y'all, be safe out there in these streets. 519 00:23:22,280 --> 00:23:25,159 Speaker 2: All right, all right, well this was your week. Be 520 00:23:25,320 --> 00:23:28,800 Speaker 2: a Q and A. We will see y'all next week. 521 00:23:29,119 --> 00:23:30,720 Speaker 2: If y'all want to ask your question and have it 522 00:23:30,720 --> 00:23:33,280 Speaker 2: featured on the show, go to Brandambission podcast dot com 523 00:23:33,320 --> 00:23:36,479 Speaker 2: and click ask us anything. You can also email us 524 00:23:36,480 --> 00:23:40,120 Speaker 2: at Brandambition Podcast at gmail dot com or slide into 525 00:23:40,160 --> 00:23:44,440 Speaker 2: our DMS on Instagram Brand Ambition Podcast on ig Don't 526 00:23:44,480 --> 00:23:47,320 Speaker 2: say that we are not available to you, okay. Three 527 00:23:47,359 --> 00:23:50,359 Speaker 2: different ways for y'all to submit your questions. Okay, and 528 00:23:50,400 --> 00:23:53,040 Speaker 2: don't forget to subscribe to our new newsletter. Go to 529 00:23:53,080 --> 00:23:56,080 Speaker 2: brandimissionpodcast dot com and find out how to join the newsletter. 530 00:23:56,160 --> 00:23:59,520 Speaker 2: You get updates from us, insights into the show, all 531 00:23:59,600 --> 00:24:03,120 Speaker 2: kinds of fun goodies. So that's that, hey, ba fan, 532 00:24:03,240 --> 00:24:05,600 Speaker 2: We could not do this show without your support or 533 00:24:05,640 --> 00:24:08,359 Speaker 2: the support of our team behind the scenes. The Brown 534 00:24:08,400 --> 00:24:12,359 Speaker 2: Emission Podcast is produced by Cumulus Podcast Network. It's edited 535 00:24:12,400 --> 00:24:16,159 Speaker 2: by the wonderful Emani Crosby and produced by Tanya Bustos. 536 00:24:16,520 --> 00:24:19,800 Speaker 2: Dennis Stimplinsky is our in house tech guru, and I 537 00:24:19,880 --> 00:24:22,800 Speaker 2: am Bandy Woodard Santos, your co host, and I will 538 00:24:22,800 --> 00:24:24,000 Speaker 2: see y'all next week.