Latest / Black Business Live Podcast / Wealth, Wisdom, and Faith - The Unfiltered Strategy for Generational Legacy
Transcript
- 0:04Tolu Akindunni: Hello, everyone. We are back here at the Black Business Live Podcast Studios, and we have an amazing episode lined up for you. I've got a sister. Yes. A woman of purpose.
- 0:22A woman of power. She is the CEO of multiple enterprises. She's also the founder of the Adisa table and the Wealth table. At the same time, she is the managing director and the senior partner of HR and Curb. And beyond that, she's also the president of Bull Enterprises.
- 0:46You can see she's got a coat of many colors. Mhmm. And we are so excited today because we're gonna be having a heart to heart with Ms Ticki, Favaroth
- 0:55Ticki Favaroth: Thank you. Thank you.
- 0:57Belva Bell: Welcome. Welcome. Welcome. Welcome, Ticki.
- 0:58Ticki Favaroth: Thank Thank you for allowing me to be here.
- 1:01Tolu Akindunni: Yeah. It's such a pleasure to have you. Thank you for saying yes
- 1:03Belva Bell: Yeah.
- 1:04Tolu Akindunni: To our show, Ticki.
- 1:05Ticki Favaroth: Thank you. Thank you for asking. Thank for inviting me and creating the space to pour out, to share, to reflect, and also just give God the glory for all the things that He is doing in my life and those that are around me.
- 1:22Belva Bell: Absolutely. I absolutely love it. Well, first of all, folks, hold on.
- 1:26Tolu Akindunni: We have to stop the set. Stop the show.
- 1:29Belva Bell: Because we didn't know that we have a special VIP in the house tonight, today. We are so thankful and grateful that she's gonna bless us on the stage tonight. So, without any further ado, let me introduce Miss Lia Favaroth.
- 1:44Ticki Favaroth: Yes.
- 1:45Belva Bell: Hey, Lia. Hi, Lia. So, Leah, how old are you? Eight years old. Eight years old.
- 1:52And what do you wanna be when you grow up? A dress designer.
- 1:55Tolu Akindunni: A dress designer.
- 1:57Belva Bell: Tell us more about that. I create dresses for proper days and important days.
- 2:04Ticki Favaroth: Oh, I
- 2:05Belva Bell: love that. For proper days and for important days.
- 2:08Ticki Favaroth: Yeah.
- 2:09Tolu Akindunni: Congratulations. Yes.
- 2:11Belva Bell: Well, we can't wait to see your fashions, honey.
- 2:13Tolu Akindunni: Yeah.
- 2:13Belva Bell: Thank you for stopping by. You, Leah.
- 2:17Tolu Akindunni: Oh, that's so exciting. Yes. Is.
- 2:20Ticki Favaroth: She's She's just gonna know that her future's already being set You know. Before her, but we'll let her
- 2:26Tolu Akindunni: go in Indeed. Indeed. So so, Ticky, we we have so much to unpack today, don't we? Let's go. Yes.
- 2:33And, you know, I've known you for for well, since I came to The States, really, from from NAWBO, the National Association of Women Business Owners. And like I said, you're a woman of many colors. You you've you're also the entrepreneur in residence, so the executive in In at Kentucky State University. You've you've been involved in the Bell Enterprises. Yeah.
- 2:55Look, we can tell that you're a woman with purpose. Thank you. You've got purpose driven initiatives, but also faith based. Yes. Right?
- 3:02And then you've you've now got the Wisdom Table.
- 3:05Belva Bell: Yes.
- 3:05Tolu Akindunni: Which you're launching soon.
- 3:07Ticki Favaroth: Yes. It's already launched.
- 3:08Tolu Akindunni: It's launched. I just had It's launched. Yes. Actually, yes. It's live on the website.
- 3:11Yes. So tell us about that. How did you get how did what motivated you to set up the the wisdom table?
- 3:17Ticki Favaroth: So, first of all, thank you for the question and, you know, I appreciate that you've taken the time to just think about my journey.
- 3:27Tolu Akindunni: Mhmm.
- 3:27Ticki Favaroth: And one of the things that, like you, maybe about three years ago, I had an opportunity to sit down with the Father. And we sat down and was able to I call it track and trace in my prayer group, kinda track and trace where He's blessing you. And one of the things that he and I agreed on is that I was going to leave the earth empty. And the way that you do that in Legacy, and I said, What do I have? I spent fifteen, twenty years in corporate.
- 3:57I left corporate, started HR and Co, which is a full service human capital. I've sat on some boards, helped launch the Bow Collective as the Vice President and COO. We have our for profit. And one of the things that I'm doing in the Wisdom Table is taking that wisdom and knowledge and helping the next gen of founders and CEOs and families accelerate their path. And I'm so thankful.
- 4:24We launched the Wisdom Table back in the summer, and right now I have seven female founders that I am spending time as their fractional kind of CEO, giving them the wisdom and knowledge to aggressively accelerate their plan. And then also working with some folks around their family office, not necessarily selling securities or insurance, but helping them design the blueprint for what they want their family legacy to be strategically and then inviting them to my trusted network of individuals to activate whether it's life insurance, whether it's policies, land, different things that every family may want to put as a part of their legacy. So long story short, it's just been you just have to move when he's moving you and he's given me the grace to do all the things that I have.
- 5:18Tolu Akindunni: Yeah. And it's beyond. It's beyond here you're talking. You're not talking about just having a business because we've heard a lot of that. Grow your business, scale your business.
- 5:25You talked about land, insurance, legacy. It's generational wealth, isn't it?
- 5:31Ticki Favaroth: Yes. Yeah. Yeah. And generational wealth for me goes beyond money. It is the family practices.
- 5:38It's the prayers. It's the expectation. It's the passing down of knowledge. It's expanding territory in the way you think and move and act. And, you know, we have some exciting things that I'll talk about a little later, but for me, even having Leah here, this is normal so that as she gets ready to take up her mantle, she has seen this.
- 6:01She understands what it is, which will accelerate the future for her and then her kids and then their kids as we think long term.
- 6:08Tolu Akindunni: Mhmm. And and the bible says from generation to generation to the fourth generation. Yes.
- 6:14Ticki Favaroth: And I've asked him for 10.
- 6:15Tolu Akindunni: 10. Alright. Come on.
- 6:17Belva Bell: Love that. One of the things that I love the most about you, Tiki, is when we first met, you said, I am a spiritual first and then I'm a CEO. And you don't hear that or see that in the, you know, traditionally anywhere in corporate America. So how has that influence given you the space to create to be able to create from a place where you are here in leaving a legacy and ensuring that your your succession plan is established. Yes.
- 6:47Ticki Favaroth: So one of the things that I will say unequivocally, the Bible is the instructions.
- 6:52Belva Bell: Mhmm.
- 6:52Ticki Favaroth: And one of the things is that you have disciples. Some of them are in church. Some are evangelists on the street, some of them are in the marketplace. I believe I've been called to disciple in a different way in the marketplace. Also too, when I think about my own life, good, bad and indifferent, and everything was not a crystal stair, so let me just be clear.
- 7:15But what I do know based upon my relationship with Father is that I could have nothing apart from Him. I've had my prodigal daughter moments and I've done things, but in this season he said all that my hands will need he will provide. And so I just live and rest in that promise and I can see the fruits of his labor and him trusting me to do many more things. So beautiful.
- 7:44Belva Bell: Thank you for sharing that.
- 7:45Ticki Favaroth: Thank you for asking. Thanks for asking.
- 7:47Tolu Akindunni: Yeah. I like it when you say on your website that you are the woman behind That's the right. Yeah. That's such a powerful statement because you're there standing up behind them and saying, Yes, go on, I'm cheering you on.
- 7:59Ticki Favaroth: Yes, yes. Or supporting. You know, I think about just even the Bow Collective, Nick Colbert Johnson, who's our founder and CEO, Godhead gave her this vision to bring best in class women. And get it, there's a lot of organizations. There's the ABCs of organizations.
- 8:14But what was uniquely different about this when I answered the call is that she wanted to create a safe space for black women business owners where we can begin to know, like, and trust and support each other. I was one of the first 50 founding members and a founding officer. And I think about that junctional road when I had a chance to make a decision to do what I always did or to be like, Wait a minute, there's this opportunity. So in helping her even push that seed from 50 members to 400 and standing behind a vision that was given to her. I've been in training for four years.
- 8:54So some of the women that I'm supporting today, this is not about position. This is not about me. It's about what do you want to do? Are you ready? Here's how I can help you and let's run as fast as we can.
- 9:09You're gonna make mistakes, but those are normal. Yep. Those are not normal. Stop. Go.
- 9:14Stand. And that's how the father wants to run with us as well.
- 9:17Tolu Akindunni: Yeah. And that's a that's such a nice transition because, obviously, with HR and Co, well, obviously, you you you led your very successful career in corporate, then you went into HR and Co, and you helped to build systems and processes that help organisations succeed. But now you've kind of transitioned more into this executive architect role. That's the sort of thing you're you're you're you're you're articulating, where you're not just transforming, but you're orchestrating and you're architecting the future of many more executives. Tell us about that.
- 9:50How did you make that switch?
- 9:51Ticki Favaroth: Oh, my gosh. You just told me that I made the switch. I think that I think about dry places in my own life. I think about how hard it was for me to grow and scale my first business over 1,000,000. What it took to be sad some days and alone some days.
- 10:17And people give you bad advice or they give you a little bit and not the whole thing and how much time and money. But, you know, I count it all joy. HRNCO is still there. We still support clients in the government, commercial nonprofit. Obviously, with everything that's going on today, we all having to kind of regroup.
- 10:38But what I realized, and I think this is a part of the transition of being in the bow, when you're around 400 brilliant women from the sea to the wall, you learn to love women a different way. It's not about money, it's not about class, it's not about style and what I have. Because you can go from a $100,000,000 Sister to a $200,000 Bow Sister. But it's about this heart posture of, Sis, what do you need? I love that.
- 11:10My son just graduated. I'm going through a divorce. I just lost a parent. An employee just passed away. And those are the things that they don't tell you how to navigate and how to be there.
- 11:27And I've had sisters fly in just for the day and say, I just want to sit and talk. Here's where I'm at. What do you think? And I'm like, let's just talk. And so I do believe I'll still be a practitioner.
- 11:40I'm actually working on some new technology. But I think I find joy in listening and saying, you can have this and I want to help you. I think I borrowed a part of not necessarily the heart, but the umption to do it from the work that I've done in the bow.
- 12:00Belva Bell: Yeah. What I absolutely love about the bow so much, as you have shared, is it sounds more like a sisterhood. It sounds like a place where all of the women are likely on one accord with the same vision and purpose to move forward. So as the collective, what types of movements are you all maybe involved in that you can share with our colleagues?
- 12:22Ticki Favaroth: You know, the philosophy is very simple. Capital, contracts, community, champion our causes, and then just making sure that we have the right kind of communications. And our founder and CEO, we've put together strategy helping women business and their health and grow. And it changes. Some seasons you're up, some seasons you're down, some seasons you're present, some you're not.
- 12:53And so we're actually going through a major transition as we pivot for the next season of what the organisation will look like, and so I'm super excited about that.
- 13:02Belva Bell: I love to hear more. Thank you for sharing.
- 13:04Tolu Akindunni: Yeah, absolutely. No, no, followed the Bow Collective since the onset really, and I haven't joined yet, it's something that I, you know, I just just haven't joined. But it's it's it's so important what you said because now in this climate, we've we've got all the government cuts happening. Yes. There's all the Made in America stuff and everyone's thinking, okay, what does that really mean?
- 13:26Something made in America? People are looking at insourcing rather than outsourcing. Yeah. So tell us a little bit more about how The Bow Collective is is helping women to rethink these strategies.
- 13:38Ticki Favaroth: Well, think it's different. So I wanna I'm a I'm a take a step back from The Bow and let's just talk about the general conversation that's happening. And this is all businesses whether you're in the boat or not. So I think number one, we are all getting up to speed with change. What has changed?
- 13:58What is changing? And then where are you in that change? Having a human resources consulting business, obviously I was impacted by contracts and so it had made me sit down and think about my company, like, where are you? What got you here is not going to get there. And so I believe all businesses went into a season called pivoting.
- 14:19Looking at what you have, what can you do and how do you move forward. Also, too, looking at your assets. In good seasons, did you store away? Do you have a lifestyle business or do you have a company? And those are questions that, you know, many business owners kind of ask.
- 14:41And then where are you now and what do you do? So even like with my business, we've done a lot of consulting. We've worked with global organizations, local. But now I've had to look at this thing around technology. Mean, AI and this and all of these things.
- 14:58And so my team has come up with something that we're working through, but I can't just rest on consulting anymore. Yeah. So I've had to pivot as well.
- 15:06Tolu Akindunni: And that's such an important thing, particularly for our community. Right. So I'm speaking out there to members of our community. Sometimes we always feel like, oh, the odds are against us as black business owners. But what we're hearing now is that this is the opportunity to pivot, embrace technology, and embrace a new way of doing things to help us to to get to what the new normal is going to be.
- 15:27Ticki Favaroth: If you're not thinking about technology, if you're not looking at how to automate your business, if you're not looking at how to pull back out your strategic plan and rethink through start, stop, continue, if you're not thinking about a new forecast or growth model, you're already behind. Some companies are surviving and some companies have products or solutions, But for most, organizations, even with the tariffs or if you're doing technology or even in the, retail industry, everyone has been impacted. And I just said it's a season to sit down
- 16:02Tolu Akindunni: Mhmm.
- 16:03Ticki Favaroth: To go back to the fathers, okay, what are we doing now? Get your new blueprint and kinda go from there.
- 16:08Tolu Akindunni: Absolutely. So so, Tiki, you have, you know, you've you've you've mingled with the rich and fakes. No. But but to be to be to be to be more serious, you know, you've worked with corporate leaders, executives, you've been on the leadership journey, you've you've seen a lot of things.
- 16:25Ticki Favaroth: I have.
- 16:26Tolu Akindunni: How has that impacted you in your own personal leadership journey?
- 16:30Ticki Favaroth: Yes. Well, when I think about the totality of my career, I'm very grateful and I'm writing this book and I talk about corporate being a she. That she and I had a relationship. I grew up in some of the best organizations with the best leaders. I supported some of the best global CEOs that taught me about getting things done.
- 17:03And I can say while I had a relationship with corporate and there were some things about our relationship that I didn't like and not getting promoted, the right salaries and we know that. I travel the world. I have people today that I still reach out to, CEOs that I can call. But what I learned was around incubating new ideas and executing. And I took that learning into my own business.
- 17:31As matter fact, my first client was the company that I left. And since that time, in consulting with companies, all kind, I've refined and harnessed what is it that a leader is really looking for and they're looking for people that want to drive results. They want to deliver stakeholder value. They want to have employees that are highly engaged in doing the work And there are many competing factors. We had COVID and we have, you know, things happening to families and people are leading organizations.
- 18:07And so how has it impacted me? It has made me very thankful. It has given me more grace to be a gracious leader and CEO and peer, and it has given me the insight that we are still human at the core. Because even being a CEO, people are like, you never, you know, give any feelings. It's like, well, in this case, it's not appropriate for me to do that.
- 18:34Now when I get home, might be like, I can't believe. But I have to show calmness, confidence, execution, and keep myself level headed so that we accomplish the mission. So I think it's just been phenomenal, and there are a lot of CEOs, if you're out there, that I work with as a part of your team. I'm very grateful that not only did I have a seat at the table, there were a lot of tables I created at corporate America which allowed me to do it externally.
- 19:06Belva Bell: I love that so much. Thank you so much for sharing. So, because you share so much, you give, give, give, I don't know how you find all the time in the world to do all the things that you do, but we're so thankful and grateful for Thank so how can we support you? How What can our givers give? What can our viewers support you?
- 19:27Where could they sign up or learn more about your programs, projects? Tell us more, we can't get enough of you, miss Tate.
- 19:32Ticki Favaroth: Yes. First of all, thank you for that. Alright, how can you help me? Number one, believe. If you are in a dry season in your life and you feel like you are at rock's bottom, that is the best place to be because there's no place but up.
- 19:51Number two, I'm gonna give a couple of shout outs from the stage. I am supporting some amazing founders to take their hope and dream to accelerate them, and some of these are projects that I love. So number one, I have a founder that's coming up. She has an amazing therapy. We do get therapy.
- 20:14It's called Love and Therapy and it's fun and she's And she's going to be launching her practice next month. If you are stressed, families, couples, your kids, this founder, she has found how to put the love back in our life. And often times I find myself with her counseling me and she's like, I can't be a therapist, I don't want you to be. Number two, black female founder here, and all of this is in Dallas, L'Allure Wellness, She has a mobile wellness. If you need to do IV, if you need to do sculpting weight, a nurse practitioner that cares about the wealth of your body, I think that's great.
- 21:01And then the final, I have two sisters, Paris and Eris out of DC, Butterland. They have a hair care product, and there's some from one of her daughters being sick and finding ingredients to not have her daughter be sick. All of these will come with discount codes. I'll share those. Wow.
- 21:18And then finally, I'm working on an international trip to Ghana where we're gonna be working with the government to bring families and businesses into Ghana on matchmaking, which will be launching in January. And I want you guys to join me on the trip Wow. Live as we begin to build relationships with the diaspora. So, I'm super excited that the institution in The Republic Of Ghana has made a decision to trust me to bring this knowledge and expertise to the nations and I am ready to do that.
- 21:58Tolu Akindunni: Wow. This is so exciting. Yes. Y'all have a good endorsement. Yes.
- 22:07I'm so excited.
- 22:08Ticki Favaroth: Yes. I am excited too. I'm excited too.
- 22:10Tolu Akindunni: Yeah. When?
- 22:11Ticki Favaroth: When? Yes. So as of right now, we're gonna launch in January. I wanna take 50 delegates with me so that we have an amazing experience, but we believe it's gonna be sometime between June and August. We are waiting on the Office of the President to lock in specific dates and times and then obviously all the logistics that go into that.
- 22:32But we were going to kick off our messaging in January and hopefully you will be one of the 50 that will go with us to get citizenship, buy land, extend your company, coach another company, do art, go to the gate of no return. Oh, And experience what that is and and engage with others around the world. So that is that is like my heart project right now.
- 22:59Tolu Akindunni: Oh, yeah. No. I'm so Honestly, because I'm Nigerian. So you talk about the gate of no return. Yes.
- 23:05You have one in Lagos.
- 23:06Ticki Favaroth: Yes.
- 23:07Tolu Akindunni: But yes, we do. And and I've been to Ghana before when I was seven years old, so I am so looking forward to going back and, you know, just helping on this journey because, you know, you're talking about global enterprise right there, isn't it?
- 23:20Ticki Favaroth: Yes. Trust. And I will say, my dad is from Kenya. I've never been to Kenya. And it's gonna give me a time to reconnect with my legacy
- 23:29Tolu Akindunni: Mhmm.
- 23:29Ticki Favaroth: And my family in the continent. So I'm excited about it.
- 23:32Belva Bell: I am beyond excited. I don't have the words, the vocabulary. If I could just burst into sparkles right There you go. Sparkles, sparkles. That's exactly what confetti, that's what I am right here.
- 23:45Tolu Akindunni: Oh, yeah.
- 23:46Belva Bell: Oh, gosh.
- 23:47Tolu Akindunni: That's so amazing.
- 23:48Belva Bell: Invitation is life changing.
- 23:50Ticki Favaroth: Yes.
- 23:51Belva Bell: It will be. Won't be the same when we come out.
- 23:53Ticki Favaroth: We'll not be the same and I don't wanna be the same. I wanna be the same.
- 23:56Belva Bell: No. In perfect timing. And also perfect timing because we will be filming this process as far as we can go, all the way to Ghana. And we'll be filming it here and along our journeys, right? And so we'll be recording this content as well and we'll be sharing it with season two.
- 24:14And you'll be recording live. Live.
- 24:16Ticki Favaroth: We'll do a stage like this.
- 24:18Tolu Akindunni: In Ghana. Yes.
- 24:20Belva Bell: I know. Said. Morph it.
- 24:21Tolu Akindunni: Can't wait. Can't wait. I'm just like, yeah. Let's go. Yes.
- 24:26But I love it. One thing, because we as we round up because Yeah. Because, you know, you're what you're talking about is generations and generations before us Yes. And generations to come. Yes.
- 24:36And so, tell us legacy do you wanna leave for that generation to come? What do what do you want to be remembered for?
- 24:44Ticki Favaroth: Oh, that is a very good question. If I when the father calls me home, I wanna be remembered as a woman, a faith driven CEO that left her full legacy behind for her daughter and other daughters, both domestically and internationally, and that I sowed a seed that produced a harvest in someone's life.
- 25:14Tolu Akindunni: Amen. That's Amen. That is beautiful.
- 25:18Belva Bell: Thank you so much. We're honored that you're here and the CEO in charge are. Yes. Yes. The Yes.
- 25:26Aflia, thank you.
- 25:27Tolu Akindunni: Thank you. And speaking of the continents Yes. The motherland, we have a special gift for you today. So this brand is called Abela
- 25:35Ticki Favaroth: Yeah.
- 25:35Tolu Akindunni: And it's the Yoruba Yoruba word for candle. Okay. And she founded her business in 2016, so she's been going for almost ten years now. In The States? She's in Nigeria.
- 25:46So we we have used something from the motherland.
- 25:48Ticki Favaroth: Oh, how perfect. And and Like, this is like synergistic.
- 25:54Tolu Akindunni: Synergistic. Exactly. Exactly. And the fragrance in the in the products tell the story of the natural fragrances of of Africa. So so when we show you the gift, you'll see what we mean.
- 26:06Of course. One of them is a palm tree. And then one of them is is it it's a fragrance the they call it the cutting comb. They use it to line. It's a wooden comb they use to to to sort of line the hair for for cornrows.
- 26:20Somehow, she managed to get that fragrance. So so that's in the gift and then there's a third gift for the little CEO in residence as well. So all from the motherland. All from the
- 26:31Belva Bell: motherland. Yes. Yes. And here comes the gift.
- 26:38Tolu Akindunni: There you go.
- 26:42Belva Bell: Thank you.
- 26:42Tolu Akindunni: Thank you. So as I was saying, so Abela, she is the business, Abela World is a cultural innovation enterprise, and they're focusing on reconnecting people with their African heritage through olfactory storytelling and technology. So so we want to reconnect you to your African heritage just before your trip to Ghana. There it goes.
- 27:06Ticki Favaroth: Thank you. Thank you. I'll read this at the end.
- 27:09Tolu Akindunni: There. Yeah. There, of course. So so that's the little diffuser. I was talking about it being the palm tree of Oh.
- 27:18Yeah. So it's bit
- 27:19Ticki Favaroth: I of smell
- 27:20Tolu Akindunni: it. Oh, yeah. It's Igeokwae, which is a palm tree, very famous on this coast. So if you're if you're gonna be in Ghana, we're gonna be by the coast, looking at gonna there. Bottom.
- 27:30Ticki Favaroth: Indeed. And we gotta go here.
- 27:32Tolu Akindunni: Yep. And and then obviously we've got the room spray with a with a hair liner, so you could spray that. Oh, this
- 27:40Ticki Favaroth: is for the room?
- 27:41Tolu Akindunni: For the room, room room and linen spray. And then we've got a little gift for the little madame as well. It's a little pouch, So you can She's CEO in charge. She is running the show. So so there you go.
- 27:57With your fashion business, you can like put all your stuff in there. Thank
- 28:01Ticki Favaroth: you. You. No.
- 28:03Tolu Akindunni: We're we're so grateful that you came on the show. It's a thank you so much. Thank you for sharing your initiative. Yeah. Yeah.
- 28:08Thank you for for taking us on the journey with you. Thank you for just the work that you do. You know, as I mentioned before, I've known you since I came, and you were one of the people that I fell into I fell into your hands, basically, as Mentorship Director for NAWBO. And I've just learned from you both directly and remotely, so thank you again for for being here. Yes.
- 28:30Ticki Favaroth: I thank you guys for creating this space and for pressing through. Every voice counts, and you continue to do what you're doing and ask God to bless the work of your hands as you continue to add others and other voices. And thanks for sharing your platform because you wouldn't didn't have to do that. So I really appreciate it. Thank you.
- 28:49Appreciate it. And accommodating Leah and making her feel right at home as she gets ready at some point to take over what has been there. And I will say, it's just like I am planning for her, the father has planned for us. Yes. Yeah, well.
- 29:05Thank you
- 29:05Tolu Akindunni: so Thank you. Well, thank you everybody. And till next time, we'll be back on the Black Business Live Podcast.
- 29:12Belva Bell: Thank you. You.
- 29:13Ticki Favaroth: Bye bye.
- 29:13Tolu Akindunni: Bye bye.