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Study Hall: Business Blueprint with Kezia Williams · Earn Your Leisure

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Speaker 2: Hi, Alena, it is your term. That's right, Eyl takeover.
1:01
Speaker 2: Will we come into Atlanta y'all?
1:02
Speaker 3: Yes? January twenty fifth. January twenty sixth two day event
1:06
Speaker 3: we have Starting out January twenty fifth, live podcast. We
1:09
Speaker 3: have PTG boys. They're killing the car industry right now.
1:13
Speaker 3: Brandon Medford EYL alumni and his two partners will be there.
1:18
Speaker 3: Mister and missus two weeks out killing the fitness game
1:21
Speaker 3: in Atlanta. Yeah, the first couple of Atlanta. They will
1:25
Speaker 3: be guested none other than one of the top realtors
1:29
Speaker 3: in Atlanta, Keanna Watson, top five percent realtor in Atlanta,
1:33
Speaker 3: will be there to talk about Atlanta real estate. And
1:37
Speaker 3: also the legend himself, Curate Burns Curative Culture Kenny Burns
1:41
Speaker 3: EYO alumni will be our guest. We will have other
1:43
Speaker 3: alumni in the building. We will have following the live
1:46
Speaker 3: podcast is an open bar, private dinner, private networking event.
1:50
Speaker 3: It's going to be crazy.
1:51
Speaker 4: That's just day one.
1:52
Speaker 3: Day two we have a workshop planned for you guys.
1:55
Speaker 3: We have Alex good Energy, the King of Trucking EYOL alumni.
2:00
Speaker 3: We have Andy from Y two K Credit Solutions about
2:02
Speaker 3: credit around EYOL alumni, MG, the mortgage Guy EYOL alumni
2:07
Speaker 3: will be in the building to talk about real estate
2:09
Speaker 3: for financing your real estate deal. And then also the
2:12
Speaker 3: King of Wholesaling, Max Maxwell and EYO alumni himself be
2:16
Speaker 3: in there to teach real estate wholesaling. So today event
2:19
Speaker 3: All the information is on our website.
2:21
Speaker 4: And over now.
2:22
Speaker 3: Don't wait till it's too late. Get your tickets Atlanta.
2:25
Speaker 3: We will see you soon. Can't wait to touch the TEMs.
2:27
Speaker 2: Right, don't wait, don't hesitate going on lead your dot
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Speaker 2: com right now, hit events stap.
2:31
Speaker 4: We'll see you there.
2:37
Speaker 3: All right, guys, welcome back, ey L Maryland Edition. DC Edition. Actually, yeah,
2:43
Speaker 3: shout outs to DC, shout outs the District of Columbia
2:45
Speaker 3: for sure. So before we start, we just got to
2:48
Speaker 3: think you guys, we had a crazy event this morning
2:52
Speaker 3: and you also had a crazy event as well, so
2:55
Speaker 3: don't talk about that for sure. But yeah, yeah, we
2:57
Speaker 3: had a crazy, crazy event. Day two will be tomorrow,
3:00
Speaker 3: will by the time you hit it'll be over. But
3:02
Speaker 3: the DC Weekend d MV Weekend with a tremendous success
3:06
Speaker 3: in Atlanta. We're coming next. That's our next stop. January
3:09
Speaker 3: twenty fifth and January twenty sixth, we headed to the
3:11
Speaker 3: A going our way. We're going to do it big
3:13
Speaker 3: out there for the whole weekend.
3:14
Speaker 2: So a big shout out to Capital Events Group Man
3:19
Speaker 2: Sharani Tiarhani Ida Man. He did an amazing job putting
3:22
Speaker 2: that together. So definitely shout out to him. Man, if
3:26
Speaker 2: you're in the DC area and you need an event plan,
3:29
Speaker 2: hit my man out man.
3:30
Speaker 3: The most the most important person. Yeah, sure, that's that's
3:33
Speaker 3: a fact. That's the fact. So all right, I'm excited
3:37
Speaker 3: about this episode for a few different reasons. A lot
3:39
Speaker 3: of people they always tag us like who they want
3:41
Speaker 3: to see that we try to accommodate as much as
3:50
Speaker 3: we possibly can. So Keezier Williams if you don't know,
3:55
Speaker 3: she's the CEO of Black Upstart And yeah, she has
3:58
Speaker 3: that signature.
4:00
Speaker 5: Man, listen, you got drag it out man.
4:04
Speaker 4: It's like seven a's and then the end it's like three.
4:07
Speaker 5: Inns and then like another.
4:10
Speaker 3: Now she's really dope. She's a big proponent of financial literacy.
4:14
Speaker 3: She's a big proponent of entrepreneurships, definitely in our community
4:19
Speaker 3: and teaching, teaching entrepreneurship. She has a whole program. We're
4:22
Speaker 3: gonna talk about that. So one of the things I
4:26
Speaker 3: like about her, like if you follow her Instagram page,
4:28
Speaker 3: is that she always like posts like these Twitter posts
4:31
Speaker 3: that she puts up and it's like seven different ones,
4:35
Speaker 3: so you always got to go to the sextual. But
4:37
Speaker 3: it's like real life you got slots to left left.
4:44
Speaker 3: But it's real life, common sense stuff that people can use.
4:48
Speaker 3: And a lot of times people they've been asking us like,
4:50
Speaker 3: you know, we love all of this high finance and
4:52
Speaker 3: stuff like this, but how do I pick my full
4:55
Speaker 3: one k? Or like how do I budget? Prop? How
4:57
Speaker 3: do I start a business? So these are all things
5:00
Speaker 3: that she posts, like on a daily basis on Instagram
5:03
Speaker 3: and I'm sure all other social media outlets. Is why
5:05
Speaker 3: I follow on Instagram and also with her company, the
5:09
Speaker 3: Black up Start. They help people start businesses, like they
5:13
Speaker 3: give them the fundamentals of how to start a business so.
5:16
Speaker 2: Employed people, Like that's one of the things like we
5:18
Speaker 2: have a lot of entrepreneurs, but how many can employ people?
5:20
Speaker 2: I think that's that's commendable that point.
5:24
Speaker 5: But I love it though.
5:27
Speaker 3: So so all right, so first and foremost, thank you
5:30
Speaker 3: for joining us. Appreciate it, thank.
5:32
Speaker 5: You for having me. I have said congratulations to you,
5:34
Speaker 5: vote on your events, and I feel like I saw
5:37
Speaker 5: the Instagram stories and it was like people upon people
5:39
Speaker 5: all this black excellency.
5:41
Speaker 3: Yeah, so we had too. You you had an event,
5:44
Speaker 3: Black Upstart had an event, and then your lesion had
5:46
Speaker 3: an event. We didn't know we was having events, and
5:47
Speaker 3: so the events was already set, but we had events
5:49
Speaker 3: at the same time pretty much. Yah. But but it
5:54
Speaker 3: was dope.
5:55
Speaker 4: You know.
5:55
Speaker 3: That's just that's just that's just that just means that
5:57
Speaker 3: the energy is out there and you know, it's the
6:00
Speaker 3: time for financial literacy and entrepreneurship.
6:04
Speaker 4: The communities already, man, so that's even more so.
6:07
Speaker 3: Can you tell us your journey how you became an entrepreneur, because,
6:10
Speaker 3: like I said off camera, but you, I like for
6:11
Speaker 3: a few different reasons, but one of the reasons is
6:13
Speaker 3: that you you have it what we call like a
6:16
Speaker 3: traditional job. We'll talk about that, but you have a
6:18
Speaker 3: company as well. A lot of time people feel like
6:20
Speaker 3: it's one or the other, right, and it's not true.
6:24
Speaker 3: Like even Troy Chroice is an educator and he's an
6:28
Speaker 3: entrepreneur as well. Entrepreneur So, but the hardest part, I
6:32
Speaker 3: think for most people is mindset. Like we will talk
6:34
Speaker 3: about strategy and all that all day long, but the
6:37
Speaker 3: mindset is the most important thing. And it's very difficult
6:40
Speaker 3: for somebody to leave or to jump off the porch
6:43
Speaker 3: and to land into somewhere where it's kind of unknown.
6:46
Speaker 3: You don't really know. It's like type walking with no
6:48
Speaker 3: safety net. So how did you start your entrepreneur journey?
6:53
Speaker 5: Okay, that's a great, great question. So I like to
6:57
Speaker 5: tell folks that the nine to five is a fixed
6:59
Speaker 5: and come. So, you work eight hours, you get paid.
7:03
Speaker 5: Eight hours, you work ten hours, you get paid, eight hours,
7:06
Speaker 5: you work twelve hours, you get paid. How many hours
7:09
Speaker 5: you get paid? Hey hour. It's a fixed income. And
7:14
Speaker 5: it's one of those things that I wasn't taught growing up.
7:16
Speaker 5: So like I was taught that the definition of success
7:19
Speaker 5: was you go to high school and you get a diploma.
7:22
Speaker 5: You go to college, you get a degree, and then
7:24
Speaker 5: you go and get a good government job with benefits,
7:27
Speaker 5: and then you retire. And that's the definition of success.
7:31
Speaker 2: Yeah.
7:31
Speaker 5: So when I graduated from college, I did exactly what
7:35
Speaker 5: my mother told me to do, and I spent six
7:38
Speaker 5: years working for the federal government and I worked in
7:41
Speaker 5: counter intelligence, counter weapons, and master instruction counter terrorism. I
7:46
Speaker 5: had a clearance, a top secret sci full scope polygraph.
7:49
Speaker 5: Only thirteen thousand people in the nation have that clearance.
7:53
Speaker 5: But I would go to work every day at nine am.
7:55
Speaker 5: At five pm, I would run out as fast as
7:58
Speaker 5: I could, and during the time when I would be
8:02
Speaker 5: off of work, I would participate in endeavors that I started.
8:05
Speaker 5: And at that point I didn't consider myself an entrepreneur.
8:08
Speaker 5: So one of the endeavors that I participated in was
8:13
Speaker 5: Young and Power for Obama, which I was telling you about.
8:15
Speaker 5: And this was an initiative that galvanized young black professionals
8:18
Speaker 5: across the country to raise money for then Senator Obama.
8:24
Speaker 5: This was in two thousand and eight, Yeah, when he
8:26
Speaker 5: was Senator Obama, and it was young Black professionals from
8:29
Speaker 5: six different cities. We would host fundraisers. The fundraisers would
8:32
Speaker 5: cost anywhere between twenty to fifty dollars and we would
8:34
Speaker 5: donate one hundred percent of the money to the campaign.
8:38
Speaker 5: Before he was elected, we raised a quarter of a
8:40
Speaker 5: million dollars. And when he was elected and became President,
8:43
Speaker 5: Barack Obama mathro President. We hosted a collection of innaugural events.
8:49
Speaker 5: Reverend Al Sharpton came, We had Jesse Jackson, he was there. Oprah.
8:54
Speaker 5: She drove by the car, she waved the wave, counted
8:58
Speaker 5: I want to open one day, shake her hand. We
9:01
Speaker 5: all going to shake her hand.
9:01
Speaker 4: Yeah, But it was.
9:03
Speaker 5: A great event. We raised another quarter of a million dollars,
9:05
Speaker 5: so I was about half million dollars by time everything
9:08
Speaker 5: was said and done. In the entire time, I was
9:10
Speaker 5: working nine am to five pm, and I was working
9:13
Speaker 5: young in Power for Obama from six pm to about
9:16
Speaker 5: one am in the morning. But when everything ended, folks
9:19
Speaker 5: started saying, you know what I mean, Raising money for
9:23
Speaker 5: President Obama was great, but I was only interested in
9:26
Speaker 5: politics just because of him, And so folks began to
9:29
Speaker 5: really ask the question like what was next? And what
9:31
Speaker 5: came from that? Is a nonprofit that I started, Capital Cause,
9:34
Speaker 5: where I trained young black philanthropists to raise money for
9:38
Speaker 5: startup nonprofit organizations, and we had five thousand members. We
9:43
Speaker 5: raised about sixty thousand dollars and gave away five thousand
9:46
Speaker 5: dollars grands to these businesses. And still throughout all of that,
9:50
Speaker 5: I did not consider myself an entrepreneur.
9:52
Speaker 4: What inspires you to take that route?
9:54
Speaker 5: Right?
9:54
Speaker 4: You raised money for politics? What said? You know what
9:57
Speaker 4: entrepreneurs are? Yes?
9:58
Speaker 5: Yes, So it was a six your work for the
10:00
Speaker 5: federal government. And as I was telling Rasha, my boss
10:04
Speaker 5: is switched up and I was working for white men
10:08
Speaker 5: at that time. I switched up to a white woman,
10:11
Speaker 5: and we sat down and she said to me that,
10:14
Speaker 5: you know, I don't think that you're qualified to do
10:17
Speaker 5: this work. And I was like, well, why don't you
10:19
Speaker 5: think I'm qualified? And she was like, because you don't
10:21
Speaker 5: have a PhD, you don't have a master's degree, you
10:23
Speaker 5: have a bachelor's degree, and here you are writing national
10:25
Speaker 5: security reports that the Vice President of the United States
10:28
Speaker 5: are seeing. So I'm about to switch up your job responsibilities.
10:32
Speaker 5: And she changed our responsibilities from writing these reports to
10:36
Speaker 5: organize and travel for the office. So I would go
10:38
Speaker 5: to work at nine am. If I get out of
10:41
Speaker 5: a five VM and still get paid six figures, then
10:44
Speaker 5: this will be okay. But then three months later she
10:48
Speaker 5: switched up my job responsibilities again. She was like, I
10:50
Speaker 5: just think organized and travel is too complicated for you,
10:53
Speaker 5: just like national security reports is to complicated for you.
10:56
Speaker 5: So now you're going to be printing badges for people
10:58
Speaker 5: in the office when Nazi people come and visit. And
11:01
Speaker 5: so I was like, okay, well, am I still going
11:03
Speaker 5: to be getting paid like six figures. I'll work from
11:06
Speaker 5: nine am, I'll leave at five pm. And so did
11:09
Speaker 5: that for three months, and then three months later she
11:11
Speaker 5: came back and she was like, making badges was also
11:14
Speaker 5: too complicated for me and above my pay grade. And
11:17
Speaker 5: she asked me to take my chair and follow her
11:19
Speaker 5: down a hallway and we stopped outside of a bathroom.
11:22
Speaker 4: Oh, like, literally, take the chair.
11:23
Speaker 5: Take the chair had wheels on it. We was walking,
11:26
Speaker 5: she was tipping, I was tippling with my chair. I
11:28
Speaker 5: was like, oh, Laura, where are we going? And we
11:30
Speaker 5: ended up outside of a bathroom and she said, well,
11:33
Speaker 5: I want you to sit down and for every non
11:35
Speaker 5: clear person that comes in, it'll be your job to
11:37
Speaker 5: buzz them in and out of the bathroom.
11:40
Speaker 4: Oh.
11:40
Speaker 5: And I remember asking myself and asking her, am I
11:43
Speaker 5: still gonna get paid six figures? But at that point
11:46
Speaker 5: question changed her never changed because I was there nine
11:50
Speaker 5: am five pm. I was walking out the door. But
11:52
Speaker 5: I asked myself, like, Yo, it was great being paid
11:55
Speaker 5: six figures, but you know, work to me meant more
11:58
Speaker 5: than that, Like the value that I was creating outside
12:00
Speaker 5: out of work, raising money for Obama, helping young black
12:02
Speaker 5: philanthropists give back, that was the work that was really fulfilling.
12:05
Speaker 5: And coming to work every day and sitting outside of
12:06
Speaker 5: the bathroom watching people, well, I want to watch people
12:09
Speaker 5: do their business, but they were going there watching the door.
12:10
Speaker 5: When hit it out, they did their business. But so
12:13
Speaker 5: after about two weeks, I called it my mom and
12:15
Speaker 5: I was like, Mom, like, I can't do this anymore.
12:17
Speaker 5: I need to quit my job. And she was like,
12:19
Speaker 5: do you have anything saved up? At that point, I
12:21
Speaker 5: had about three months worth of savings and she was like, well, baby,
12:23
Speaker 5: I think you should have another job lined up. And
12:25
Speaker 5: I was like, I don't think I can do it,
12:27
Speaker 5: Like I can't come in here every single day and
12:29
Speaker 5: open this door for people. Yeah, exactly. And she was like, well,
12:32
Speaker 5: if you want to quit, baby, like I got you.
12:34
Speaker 5: And I remember quitting my job, like I quit my
12:36
Speaker 5: job and I was so excited. Have you'all ever quit
12:38
Speaker 5: it off before you could job?
12:40
Speaker 4: No, you could, Joab, I did quit.
12:42
Speaker 5: How did you feel?
12:43
Speaker 4: It was great? Yeah?
12:44
Speaker 5: I mean I felt excellent, Like I went running out there.
12:47
Speaker 5: I was like, oh my god, I am so free,
12:49
Speaker 5: like no more than nine of five right, Yeah? But
12:52
Speaker 5: then Friday hit It's like her friends time that I
12:55
Speaker 5: wasn't getting paid. I was telling me shod I called
12:57
Speaker 5: up unemployed and I was like, I guess I better
12:59
Speaker 5: get on this on deployment to get this check. I
13:01
Speaker 5: remember talking to the lady and I was like, yeah,
13:02
Speaker 5: I quit my job and I heard did y'all like
13:04
Speaker 5: pay fifty percent of your paycheck? So I'm just trying
13:06
Speaker 5: to figure out, like how do I submit this paperwork?
13:08
Speaker 5: And she was like, you said you quit? And I
13:10
Speaker 5: was like, yeah, I said I quit. And she was like, yeah,
13:11
Speaker 5: you don't get unemployment when you quit your job.
13:15
Speaker 4: Yes.
13:15
Speaker 5: I was like, did I say I quit? Like what
13:17
Speaker 5: have meant?
13:17
Speaker 1: Was?
13:19
Speaker 3: Right?
13:19
Speaker 5: Could I have fire? And so she was like, yeah,
13:21
Speaker 5: that's the uneployment for you, and if there was, you
13:23
Speaker 5: wouldn't getting fifty percent of your paycheck. So I was
13:26
Speaker 5: unemployed for six weeks. And during those six weeks, a
13:28
Speaker 5: woman who worked with me with Younger Power for Obama
13:30
Speaker 5: called me and she was like, I have a job,
13:34
Speaker 5: and the job is launching a national Entrepreneurship initiative where
13:37
Speaker 5: you would teach African American undergraduate students how to start
13:40
Speaker 5: a business before they graduate from school, especially since a
13:43
Speaker 5: black undergraduate student's college degree is equivalent to a white
13:47
Speaker 5: person's high school diploma.
13:49
Speaker 3: Can you talk about that? You talk about that?
13:50
Speaker 5: Yeah? Absolutely?
13:52
Speaker 3: So about what a black college degree is equivalent to
13:56
Speaker 3: a white high school diploma.
13:58
Speaker 5: Yes, a black person's college degree is equivalent to a
14:01
Speaker 5: white person's high school diploma, which means that a black
14:04
Speaker 5: person can go to the same high school as a
14:07
Speaker 5: white person, go to the same college as a white person,
14:10
Speaker 5: and apply for the same job as a white person,
14:12
Speaker 5: but when they get higher they're pay is separate and unequal.
14:16
Speaker 4: So yeah, I think I read a statistics somewhere. It's
14:19
Speaker 4: very similar. It was like middle class black family is
14:22
Speaker 4: equivalent to a poor white family, poor white family.
14:24
Speaker 5: Yeah, and black women especially, I mean black people in generally,
14:26
Speaker 5: our parents teach us to work twice as hard, to
14:29
Speaker 5: be twice as smart, to go into work and be
14:31
Speaker 5: twice as exceptional, and somehow, some way will be the
14:34
Speaker 5: same as a white person. At the end of the day,
14:36
Speaker 5: black women especially will lose eight hundred and forty thousand
14:39
Speaker 5: dollars over their working career, not because they're not smart, intelligent,
14:42
Speaker 5: or well equipped to do the job, but simply because
14:44
Speaker 5: they're black and they're women.
14:46
Speaker 3: So black women graduate college at the at the fastest rate,
14:49
Speaker 3: at the highest rate out of any ethnic group.
14:52
Speaker 5: I think that's what analysts say yeah.
14:54
Speaker 3: But they're not paid obviously at the same level they're
14:56
Speaker 3: not paid.
14:57
Speaker 5: And I think that that's why it's no question. And
15:00
Speaker 5: while black women are the fastest growing segment of entrepreneurs,
15:03
Speaker 5: like I like to tell people that, like, I don't
15:06
Speaker 5: think that black people are starting businesses because they want
15:08
Speaker 5: to be the next Black Bill Gates love Beyonce, but
15:10
Speaker 5: the next Black Bill Gates or the next Steve Jobs
15:13
Speaker 5: or the next Mark Zuckerberg. They're starting businesses because they
15:16
Speaker 5: want to be economically free. They want to be able
15:18
Speaker 5: to pay themselves with their companies refuse to pay them
15:21
Speaker 5: despite being qualified for them. That represents economic freedom and
15:25
Speaker 5: economic liberation.
15:26
Speaker 2: We had a guess who actually was talking about that
15:29
Speaker 2: exact topic, and they was saying, even with that, the
15:31
Speaker 2: entrepreneurism getting loans to start venture capital.
15:35
Speaker 3: So black women are starting businesses at the fastest rate,
15:38
Speaker 3: but they get venture capital at the smallest rate out
15:42
Speaker 3: of any ethnic group, gender group in America. So doesn't
15:47
Speaker 3: really make sense if you think about it, because it's
15:48
Speaker 3: like you would figure more entrepreneurs, you would get at
15:51
Speaker 3: least some sort of venture capital. That's what venture capitals.
15:53
Speaker 3: They lend money to entrepreneurs. But they get the least
15:56
Speaker 3: amount of funding from venture capital.
15:58
Speaker 5: I think what's interesting is that black people need to
16:01
Speaker 5: have a more dynamic conversation around funding, and so I
16:05
Speaker 5: think when it comes to VC, that percentage is absolutely true.
16:09
Speaker 5: But that's not the only type of business that black
16:11
Speaker 5: people are starting. Isn't innovation driven enterprises, which is what
16:14
Speaker 5: that is the type of businesses that qualify for venture capital.
16:17
Speaker 5: There are two types of businesses that you can start.
16:19
Speaker 5: There's a SME and there's a ide. There's a small
16:22
Speaker 5: medium sized enterprise where you can raise a friends and
16:25
Speaker 5: family round. You can go on to razoo if you're
16:28
Speaker 5: starting a nonprofit. If you're starting a Razoo is a
16:31
Speaker 5: crowdfunding platform for five on one c three nonprofit organizations
16:35
Speaker 5: where you can invite your friends to go on and donate.
16:38
Speaker 5: The only way that you can qualify to get on
16:40
Speaker 5: raezoo is if you have an IRS designation. If you
16:44
Speaker 5: have a for profit or let's say you are a
16:46
Speaker 5: sole proprietor, which means that you do business as yourself,
16:49
Speaker 5: you can go on to Indiegogo. You can go onto
16:53
Speaker 5: what a lot of people think it's an unpopular site,
16:55
Speaker 5: but go funding and you can do the same thing.
16:56
Speaker 5: You can ask your friends and family essentially to invest
16:59
Speaker 5: in your business idea or to contribute towards your business idea.
17:02
Speaker 5: But for a small medium sized enterprise, in addition to
17:05
Speaker 5: doing crowdfunding, you can also do bank loans and you
17:08
Speaker 5: can also fund your own business. That's fundamentally different than
17:11
Speaker 5: an ID an innovations driven enterprise. We're essentially going into
17:15
Speaker 5: debt by soliciting guess angel investment and also venture capital,
17:18
Speaker 5: and those people are betting on you to serve a
17:20
Speaker 5: global market, while small medium sized enterprises serve a small
17:25
Speaker 5: or regional market. So those are your nail saligns, those
17:27
Speaker 5: are your hair stylists, those are your local coffee shops.
17:31
Speaker 3: So all right, that's interesting. What's it called a ib ID?
17:35
Speaker 5: So that is an innovation driven enterprise and as me,
17:38
Speaker 5: which is a small or medium sized enterprise.
17:40
Speaker 3: Okay, So do you think that that's an issue though
17:43
Speaker 3: with Black community as a whole, where I see most
17:47
Speaker 3: businesses and the business ideas are small. The problem with
17:50
Speaker 3: small businesses that for the most part, they stay small
17:54
Speaker 3: and you can't scale it. They don't really make that much.
17:56
Speaker 3: Most majority of business owners don't make money like we
18:00
Speaker 3: know that like the average employee makes more than a
18:03
Speaker 3: business owner, like per average. One of the reasons is
18:07
Speaker 3: that most businesses are small, very small, right, like one person,
18:12
Speaker 3: So like the grocery store, well not the grocery stores,
18:17
Speaker 3: but the delis, the bodegas, if he was in the youngdegas,
18:21
Speaker 3: the is that.
18:24
Speaker 5: Yore I have a seven girl from Virginia.
18:28
Speaker 3: The barbershops, the local restaurants. Do you think that that's
18:33
Speaker 3: an issue with black entrepreneurship that it's always a lot
18:37
Speaker 3: of times not on a bigger global vision, it's more
18:41
Speaker 3: on a community based, small vision.
18:43
Speaker 5: I think it's important to know the data. So currently
18:46
Speaker 5: there are two point five to six million black entrepreneurs,
18:49
Speaker 5: but only one hundred and ten thousand of them have
18:51
Speaker 5: the capacity to employ a least one person. Now, what
18:54
Speaker 5: you're speaking about is probably the two point four million
18:58
Speaker 5: people who can't write. The hundred than ten thousand black
19:01
Speaker 5: entrepreneurs who are employers employ less than a million people,
19:05
Speaker 5: but there are eighteen point five million black people in
19:07
Speaker 5: the workforce. That means that a majority of black people
19:10
Speaker 5: work for somebody who don't look like them, which means tomorrow,
19:15
Speaker 5: if those employers were to come in and fire every
19:18
Speaker 5: single black person on the back, on the on the payroll,
19:21
Speaker 5: those black folks would be what unemployees. Yeah, and that
19:25
Speaker 5: soil right, they would be essel and they would be
19:28
Speaker 5: on employed. So black upside, I'm glad you're talking about this.
19:30
Speaker 5: What we do is we teach black entrepreneurs not just
19:33
Speaker 5: how to start a business, but how to start a
19:35
Speaker 5: business that can create a job so they don't have
19:37
Speaker 5: to go begging other people to do for them where
19:39
Speaker 5: they are capable of doing for themselves. Now, for black entrepreneurs,
19:43
Speaker 5: the average black entrepreneur grosses less than six figures in revenue,
19:47
Speaker 5: which means that a lot of black entrepreneurs are starting
19:50
Speaker 5: businesses and their lifestyle businesses, which means that they're just
19:52
Speaker 5: essentially hustling. And what a hustler does is they wake
19:55
Speaker 5: up every single day and they try to get money.
19:57
Speaker 5: While an entrepreneur wakes up every day and what they're
19:59
Speaker 5: doing is they're doing business. They're creating systems and processes
20:03
Speaker 5: so that when they're business scales, other people can work
20:06
Speaker 5: for their business outside of just them. So I think
20:09
Speaker 5: that there's a difference between the barbershop owner who probably
20:13
Speaker 5: has employees, the coffee shop owner, even if it's just them,
20:15
Speaker 5: they employ themselves and the person on the side of
20:18
Speaker 5: the street who's hustling and trying to sell to every
20:21
Speaker 5: single person that walks by them. Right, I think it's
20:24
Speaker 5: important for black people to realize the money that exists
20:27
Speaker 5: in our communities. So when I read the statistic about
20:30
Speaker 5: black entrepreneurs gross and fewer than six figures, I also
20:33
Speaker 5: read statistics about Asian entrepreneurs and white entrepreneurs and Native
20:36
Speaker 5: American entrepreneurs, and all of them grows more than six figures.
20:40
Speaker 5: In fact, Asian entrepreneurs have less entrepreneurs than Black folks,
20:45
Speaker 5: but they gross double the amount of revenue. Why because
20:49
Speaker 5: when you look at the businesses that they start, they
20:52
Speaker 5: start businesses in their own communities and then they come
20:55
Speaker 5: over to the black communities and start businesses. So people
20:58
Speaker 5: always ask me, like, okay, Kizia, what type of business
21:01
Speaker 5: would you start if somebody gave you a million dollars?
21:04
Speaker 5: And I always tell them that I would start a
21:06
Speaker 5: Chinese food delivery service, And well, can you fly rice?
21:10
Speaker 3: Oh?
21:10
Speaker 5: No, I can't fry rice. Can you fry one sign? No,
21:13
Speaker 5: I can't fry one sign. In fact, I can't cook,
21:15
Speaker 5: which is probably why I'm not married. So like if
21:17
Speaker 5: anybody on the past, I want to play like matchmaker,
21:20
Speaker 5: like I'm down for it exactly so. But when we
21:26
Speaker 5: go into a beauty supply store and a person on
21:28
Speaker 5: the other end of the counter is selling you hair
21:31
Speaker 5: grease and do rag and a good remy track and
21:34
Speaker 5: they don't look like you, we don't think twice about it,
21:36
Speaker 5: but people will laugh once twice a black woman is
21:38
Speaker 5: selling fried rice and a one time. The reason why
21:41
Speaker 5: agent entrepreneurs are able to gross over six figures and
21:44
Speaker 5: employ them is because they're not only getting money in
21:45
Speaker 5: their own community, but they are capitalizing off of the
21:48
Speaker 5: one point three trillion dollars that black people are spending
21:51
Speaker 5: every single day. And so what I like to tell
21:53
Speaker 5: black entrepreneurs is that you have to look at what
21:56
Speaker 5: we're currently spending our money on. Every single year, the
22:00
Speaker 5: Nielsen Consumer Index Report publishes how black people spend their money.
22:05
Speaker 5: The top five things are refrigerated drinks, dry vegetables, ethnic care,
22:11
Speaker 5: care goods and supplies. Contraceptives is one, diverse is another
22:17
Speaker 5: one laundry detergent. I know that y'all know about true
22:20
Speaker 5: that's a black on laundry detergent company. But when you
22:23
Speaker 5: look at the top five businesses the Black people normally start,
22:26
Speaker 5: it is admin services, waste for mediation, third is other.
22:30
Speaker 5: So that's like an amalgamation maybe like a compilation of
22:34
Speaker 5: many different businesses. And what you don't see is alignment.
22:38
Speaker 5: When you look at the types of businesses that other
22:40
Speaker 5: entrepreneurs start, they are prevalent on the list where our
22:43
Speaker 5: dollars are being spent black peoples. Again, one point three
22:47
Speaker 5: trillion dollars is not a blank check for other communities
22:49
Speaker 5: to sign.
22:50
Speaker 4: So real quick, you said that you train entrepreneurs.
22:53
Speaker 2: Obviously I'm thinking through a curriculum one, but you also
22:55
Speaker 2: do a hands on approach.
22:56
Speaker 4: What does that look like?
22:57
Speaker 5: Okay? So for the Black of Side curriculum, we host
23:01
Speaker 5: a six day pop up school and it happens over
23:04
Speaker 5: three weeks and six days, and during that six days
23:07
Speaker 5: we teach idiation process, the minimum viable product creation, business
23:13
Speaker 5: campus development, and in the end, we teach them how
23:15
Speaker 5: to pitch. Yeah, so that's what we do with Black Upstart.
23:19
Speaker 5: We start with crowdfunding and I know we had just
23:21
Speaker 5: had a conversation about crowdfunding, but we teach them essentially
23:25
Speaker 5: how to turn their contacts into capital.
23:28
Speaker 4: Contact like capital.
23:30
Speaker 5: So it starts with that before we even see them
23:32
Speaker 5: on the first day of class.
23:34
Speaker 4: And how many teachers just you or is it a team?
23:36
Speaker 1: No?
23:37
Speaker 5: So there is faculty. And one of the things that
23:40
Speaker 5: I love about Black Opstar that I definitely should mention
23:43
Speaker 5: is we always teach in a black environment. So, like
23:45
Speaker 5: right now you all are in Southeast DC, and we
23:48
Speaker 5: started off in the Microsoft Innovation Center, which is located
23:51
Speaker 5: on Saint Elizabeth East Campus in Southeast and DC. They
23:55
Speaker 5: say south, Like what south? South? We have black faculties.
24:00
Speaker 5: So we have one faculty come in every single day
24:03
Speaker 5: and they teach on a very specific topic. We have
24:06
Speaker 5: contractors that come in and help with website development, all black,
24:10
Speaker 5: black photographers, black videographers, and when they pitch, they pitch
24:13
Speaker 5: their innovation in the community. And so now you have
24:16
Speaker 5: black consumers connecting with black entrepreneurs. And for us, it's
24:20
Speaker 5: about recycling the black dollar.
24:22
Speaker 3: All right, dope, dope. So the next type, we're going
24:25
Speaker 3: to talk about some different ways that people can get
24:28
Speaker 3: up and running and get into the game as far
24:30
Speaker 3: as entrepreneurship concerned. All right, So we're gonna talk about
24:33
Speaker 3: some actionable items and some systems to help people out.
24:38
Speaker 3: All right, So the audiation.
24:40
Speaker 5: Process, the audiation process.
24:42
Speaker 3: Audiation process can explain what that is.
24:45
Speaker 5: Absolutely. So we teach the audiation process, and it's a
24:49
Speaker 5: six step process that teaches new small business entrepreneurs how
24:54
Speaker 5: to launch their enterprise in less than thirty days and
24:57
Speaker 5: with less than one thousand dollars in startup capital. So
25:01
Speaker 5: the first step is your problem statement. So please note
25:05
Speaker 5: that it's not a business idea problem statement.
25:07
Speaker 3: Problem statement.
25:08
Speaker 5: What type of problem are you trying to solve and
25:11
Speaker 5: for whom? So for black upstart, it would be black
25:13
Speaker 5: entrepreneurs have a problem starting businesses that create jobs. Normally,
25:18
Speaker 5: entrepreneurs get hung up on the first process because they
25:20
Speaker 5: want to tell you about their idea. That's their baby.
25:23
Speaker 5: And so we say, you need to divorce yourself from
25:25
Speaker 5: your idea, talk about your problem, and your problems should
25:29
Speaker 5: be broad enough so that there are several different solutions
25:32
Speaker 5: that can address that problem. Number two is called investigation,
25:37
Speaker 5: and what that is is market research. And so with
25:40
Speaker 5: market research, what you do is you look at other
25:42
Speaker 5: companies that are solving that problem, and you look at
25:46
Speaker 5: a few things you see if they're sme we talked
25:48
Speaker 5: about that earlier. A small medium sized enterprise or innovation
25:51
Speaker 5: driven enterprise. You look and see if they have employees,
25:54
Speaker 5: because you want to know if the business has scaled,
25:56
Speaker 5: and you look and see if they have if they
25:59
Speaker 5: sell products and services. After that, you list five things
26:02
Speaker 5: that you like about that company and five things that
26:05
Speaker 5: you would change, and each of that each of those
26:08
Speaker 5: items on that list should address the problem that you're
26:10
Speaker 5: trying to solve. Now, when you move on to step three,
26:13
Speaker 5: which is called the idea expression, you use the five
26:16
Speaker 5: things that you would change to create your unfair competitive advantage.
26:20
Speaker 5: So for Black Upstart, we looked at other businesses that
26:22
Speaker 5: were training entrepreneurs, and we realized that businesses weren't really
26:26
Speaker 5: saying that I want to train black entrepreneurs. They were
26:30
Speaker 5: dressing it up in coded language like we want to
26:32
Speaker 5: help people of color, we want to help minorities. Are
26:35
Speaker 5: your disadvantaged? Come over here, let me teach you how
26:37
Speaker 5: to start a business. So like, we knew that our
26:40
Speaker 5: unfair competitive advantage would be that we would explicitly state
26:44
Speaker 5: that we would train black entrepreneurs, and this would be
26:46
Speaker 5: a one hundred percent black experience. So for number three,
26:50
Speaker 5: again you put your unfair competitive advantage in there and
26:53
Speaker 5: you say I sell this to this particular person and
26:57
Speaker 5: say how it's different. It should be one sentence. Usually
27:00
Speaker 5: when you talk to an entrepreneur and you ask them
27:02
Speaker 5: about their business, they're gonna tell you a whole book,
27:05
Speaker 5: all right, because it's their baby. But if you can't
27:08
Speaker 5: say it in a sentence, if it can't be like
27:10
Speaker 5: your elevator picks, you know, if it said it's a sentence,
27:13
Speaker 5: then it's too long. Also, if you get to step
27:16
Speaker 5: number three and your business idea has been shifted or changed,
27:20
Speaker 5: or you don't have better understanding on why you're doing business,
27:22
Speaker 5: and in that way, then that means that you have
27:25
Speaker 5: to start over because you never got a divorce. So
27:28
Speaker 5: step number four is your customer demographic. And for a
27:31
Speaker 5: customer demographic, you're gonna list out twenty different descriptors about
27:35
Speaker 5: the person who is looking for a solution to that problem.
27:39
Speaker 5: And that looks like how old are they, how much
27:42
Speaker 5: money do they make, what is their race, what is
27:43
Speaker 5: their gender? Who do they follow on social media? Where
27:46
Speaker 5: do they currently work? Because you cannot make the assumption
27:48
Speaker 5: that they're looking for your new business idea which doesn't
27:50
Speaker 5: exist yet.
27:52
Speaker 4: These questions will format it already.
27:54
Speaker 5: Yeah, and then number five is your user persona. You
27:57
Speaker 5: take all of those descriptors and you tell a story.
27:59
Speaker 5: So like Lakisha is twenty six and she works at
28:02
Speaker 5: booz Allen Hamilton, and she makes sixty two thousand dollars,
28:04
Speaker 5: So you tell a story. And then last is your innovation.
28:08
Speaker 5: And an innovation is something that is new, original, important
28:11
Speaker 5: that you can sell to other people for profit. And
28:14
Speaker 5: it should be an MVP, which is a minimum viable
28:17
Speaker 5: product creation. What can you make with a minimum amount
28:21
Speaker 5: of resources that people can actually pay you for. Okay,
28:26
Speaker 5: you need to be able to make it with one
28:27
Speaker 5: thousand dollars. You need to be able to launch it
28:29
Speaker 5: in thirty days. And the reason why we set that
28:31
Speaker 5: parameter is because entrepreneur's dream big. So you might be like,
28:34
Speaker 5: what I want is a nail salon, but perhaps all
28:36
Speaker 5: you can afford is a pop up shop where people
28:39
Speaker 5: come and you do their nails on a Saturday at
28:41
Speaker 5: a community center that you've rented, and that cost you
28:43
Speaker 5: two hundred dollars just to pop up in three hundred
28:45
Speaker 5: dollars for supplies. The reason why I say that is
28:48
Speaker 5: because once you get small right, once you learn how
28:51
Speaker 5: to use what you have, start where you are and
28:52
Speaker 5: do what you can, then you learn how to start agile.
28:56
Speaker 5: So that's the six step ideation process.
28:59
Speaker 3: You have it.
29:00
Speaker 4: That was detailed detail and the only.
29:03
Speaker 5: Thing that I want to say with the entrepreneurs, sometimes
29:05
Speaker 5: people don't define entrepreneurs, but the entrepreneur is someone who
29:08
Speaker 5: starts a business that has the chance of two things.
29:11
Speaker 5: That's profit and success. We like to say that would
29:14
Speaker 5: black upstart that if you're selling a product or service,
29:16
Speaker 5: then nobody wants to buy. You don't have a business.
29:20
Speaker 4: You have a high difference. How many entrepreneurs are you
29:24
Speaker 4: looking for? How many do you guys take?
29:26
Speaker 5: Like?
29:26
Speaker 4: Is it per year? How do y'all do it? So
29:29
Speaker 4: I'm sorry answered okay that I was gonna say. Is
29:32
Speaker 4: it money that's allocated for the amount of business you
29:35
Speaker 4: can or entrepreneurs that you can take?
29:37
Speaker 5: So it's competitive. We accept between ten to fifteen people
29:41
Speaker 5: per class. We get about two hundred applications for each class.
29:45
Speaker 5: When we first started, it was tuition based and so
29:47
Speaker 5: we would train our entrepreneurs to raise their tuition, which
29:50
Speaker 5: was five hundred dollars per person. The average entrepreneur would
29:54
Speaker 5: raise anywhere between seven hundred to one thousand dollars, and
29:56
Speaker 5: every dollar that they raised above their tuition they kept
29:59
Speaker 5: and used to make their minimum viable product creation. But
30:03
Speaker 5: then as a business matured, we partnered with CDFI's, so
30:07
Speaker 5: those are community development financial institutions. So in North Carolina,
30:11
Speaker 5: we work with Carolina Small Business Development Fund and what
30:13
Speaker 5: happens is they actually CDFI, So that's a community development
30:19
Speaker 5: financial institution and they take bets on entrepreneurs that banks won't.
30:24
Speaker 5: So if you haven't made your first seale, they're more
30:26
Speaker 5: willing to make a five thousand dollars loan to you
30:29
Speaker 5: and take that risk, and the government backs them in
30:31
Speaker 5: the event that you default on the loan. So I
30:34
Speaker 5: say that to say that we partner with CDFIs and
30:37
Speaker 5: they cover the cost of tuition and in exchange for that,
30:40
Speaker 5: entrepreneurs get free education and they pipeline into funding opportunities.
30:44
Speaker 5: So with cd.
30:46
Speaker 4: Earners, what's up?
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Speaker 5: With Carolina Small Business Development Fund, every single entrepreneur graduated
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Speaker 5: with access to fifty thousand dollars in funding inside their business.
33:43
Speaker 3: So all right, that's crazy. So once they started with
33:45
Speaker 3: the fifty thousand, then what because now it's like you
33:49
Speaker 3: have the money, but you have to actually do it.
33:52
Speaker 3: Because it's one thing to actually research and have all
33:55
Speaker 3: the information, but execution is always the most important thing.
34:00
Speaker 3: So like as far as is that part of the coaching,
34:02
Speaker 3: like for people, like the execution once you've reached the
34:07
Speaker 3: point where you're actually, Okay, I have my MVP, I
34:11
Speaker 3: have all of the elevator pitch, everything that you just outlined,
34:16
Speaker 3: I have that. I have it. It's perfect. My business
34:18
Speaker 3: plan is perfect. Now what I mean like, what's the
34:22
Speaker 3: execution part of it?
34:23
Speaker 5: And so I think that's a really good question. Our
34:25
Speaker 5: CDFIs work with the entrepreneurs over a year to scale
34:29
Speaker 5: their business. And so you know, we talked about business
34:31
Speaker 5: card entrepreneurs or people running around here all the time
34:33
Speaker 5: talking about I got a business, I got a business.
34:35
Speaker 5: All they got is a business card. So with them
34:38
Speaker 5: they qualify for up to fifty thousand dollars in capital.
34:42
Speaker 5: But first they do have to show proof of concept
34:45
Speaker 5: and that's where that sixth step innovation comes in. We
34:49
Speaker 5: talked about how the boot camp ends. The boot camp
34:51
Speaker 5: ends with a graduation, and that graduation is not your
34:53
Speaker 5: traditional pitch competition, Like it's not you stand up there,
34:57
Speaker 5: you tell people your idea and then there is a winner,
34:59
Speaker 5: because that's out the way business parts. It's not shark tank.
35:03
Speaker 5: It's not two or three people decide that your business
35:04
Speaker 5: is viable and all of a sudden you win. No,
35:07
Speaker 5: you know your business is viable when you're making sales.
35:10
Speaker 5: And so how our graduation day works is entrepreneurs bring
35:13
Speaker 5: their innovations to the graduation and people walk around and
35:18
Speaker 5: they give them real time feed forward on their innovation
35:21
Speaker 5: and they respond to if they want to if they
35:23
Speaker 5: like the innovation by actually buying it. And so they
35:26
Speaker 5: already have an MVP that the CDFI helps them position
35:29
Speaker 5: in the marketplace, and they monitor their salves over the
35:32
Speaker 5: year and as their business grows, then their access to
35:35
Speaker 5: funding does as well as.
35:36
Speaker 2: Their business grows, right, is there still a role that
35:40
Speaker 2: black Upstart plays as the business takes off.
35:42
Speaker 5: So that's a good question because we talked about our
35:45
Speaker 5: businesses having events right on the same day. So we're
35:49
Speaker 5: now launching skillhouse You and skillhouse You is an opportunity
35:53
Speaker 5: for entrepreneurs and also wealth creators as well to get
35:57
Speaker 5: additional training after that. Right, So the starting point, it's
36:01
Speaker 5: always really exciting when somebody first buys your stuff. I'm
36:03
Speaker 5: sure y'all remember when somebody buyt y'all's cuebody got your
36:06
Speaker 5: first little cash hat or whatever y'all use, Like, yeah,
36:10
Speaker 5: you know, but staying a business, right, it's a lot
36:13
Speaker 5: harder than that. And so for black ofps starting through
36:16
Speaker 5: skillhouse You, what we're doing is we're teaching people like
36:19
Speaker 5: how do you read a cash flow statement? Like how
36:21
Speaker 5: do you engage in account? And if you can't afford
36:23
Speaker 5: an account? And how do you use quick and loans?
36:25
Speaker 3: You know?
36:26
Speaker 5: What are those very specific skills that you need, like
36:29
Speaker 5: what is an NDA, what is a non compete? You know?
36:32
Speaker 5: And when you're looking for visibility, like how do you
36:35
Speaker 5: market when you don't have a budget? And I think
36:37
Speaker 5: sometimes we do focus our conversation so much on starting
36:40
Speaker 5: that we don't get to the other side of the
36:42
Speaker 5: conversation is how do you scale past just you.
36:45
Speaker 3: So business plans? Do you do business plans?
36:48
Speaker 5: We don't, We do business canvases.
36:51
Speaker 3: Okay, what's because a lot of people have asked us,
36:54
Speaker 3: can you cover business planning on your leaders Because like
36:57
Speaker 3: each week we cover different topics and we haven't covered
37:00
Speaker 3: business plans. But what you just laid out kind of
37:03
Speaker 3: sounds like a business plan. So what's a business canvas?
37:07
Speaker 5: So ideation process actually mirrors a lot of what you'll
37:10
Speaker 5: find in a business canvas. That is a one page
37:13
Speaker 5: document that ask a lot of the same questions that
37:16
Speaker 5: you see on a business plan. So it's going to
37:19
Speaker 5: ask you what is your value proposition and who is
37:22
Speaker 5: your customer segment? And what are your cost structures. It's
37:25
Speaker 5: going to ask you what are your key partnerships, what
37:26
Speaker 5: are your key relationships? But it's all on one page
37:29
Speaker 5: and it challenges you to think through some of the
37:31
Speaker 5: critical components of your business so that you can start
37:35
Speaker 5: up in a lean way. And I'm sure y'all probably
37:37
Speaker 5: heard the terminology like lean startup, right, Like how do
37:40
Speaker 5: you start, get proof of concept and get to the
37:41
Speaker 5: point where you actually want to commit the time to
37:44
Speaker 5: write a fifty or sixty page business plan. The problem
37:47
Speaker 5: with most entrepreneurs is they'll write fifty or sixty pages.
37:50
Speaker 5: Then they'll get started and they'll try to sell something
37:53
Speaker 5: and nobody will buy it, and they'll think they have
37:54
Speaker 5: to write another business plan all over again. The business
37:57
Speaker 5: campus being one page and asking those critical questions is
38:00
Speaker 5: just on one sheet of paper allows for people to
38:03
Speaker 5: get to testing a lot quicker. So that's what we teach.
38:06
Speaker 3: Okay, so what about obstacles the entrepreneur's face? Can we
38:10
Speaker 3: talk about some? The biggest one is funding, That's the
38:14
Speaker 3: biggest one.
38:14
Speaker 5: Right, I wouldn't say that's the biggest one.
38:17
Speaker 3: The biggest one is I think.
38:19
Speaker 5: The biggest obstacle facing black entrepreneurs is trying to succeed
38:24
Speaker 5: in business as a white person.
38:27
Speaker 3: What's that mean?
38:28
Speaker 5: So Beyonce Beyonce rapping about like I might just be
38:33
Speaker 5: the next black Bill Gates and the making that was
38:37
Speaker 5: var y'all like when.
38:39
Speaker 4: I said that.
38:41
Speaker 5: But I love her. I love her. However, I think
38:44
Speaker 5: the deseroneous like I do a lot of work in Atlanta,
38:47
Speaker 5: And there was one particular experience that I had where
38:50
Speaker 5: I ran into a room. I really did run into
38:52
Speaker 5: the room because I'm a type of personality, and there
38:55
Speaker 5: was another person run into the room to the facilitator,
38:57
Speaker 5: and he was asking the kids like, who wants to
38:59
Speaker 5: be the next Black Book Gates? Who wants to be
39:00
Speaker 5: the next Mark Zuckerberg? Who wants to be the next
39:03
Speaker 5: Steve Jobs? And all the kids were really excited because
39:06
Speaker 5: it was like a coding a free coding camp. And
39:08
Speaker 5: I was excited too. I was like, oh my gosh,
39:11
Speaker 5: this is so great. Everybody's going to be a Billa Gates.
39:13
Speaker 5: But then I realized that the facilitator was lying to
39:17
Speaker 5: the children because no matter how hard they tried, they
39:20
Speaker 5: could never grow up one to be white, two to
39:24
Speaker 5: be a white male, three to be a white male
39:26
Speaker 5: benefiting from privilege. And so the more I reflected on it,
39:30
Speaker 5: the more I realized that we just don't have to
39:31
Speaker 5: teach white male privilege or the white entrepreneurial the blueprint,
39:36
Speaker 5: that there is a black entrepreneurial blueprint right So like
39:39
Speaker 5: in Silicon Valley, I think no one ever talks about
39:42
Speaker 5: the guy who invented the predecessor to the Nintendo, which
39:47
Speaker 5: is a model f gaming system. Right, he dined as
39:51
Speaker 5: equals with Steve Jobs. No one talks about how Mary
39:53
Speaker 5: McCoy but Thune raised money to start her business, which
39:56
Speaker 5: was selling meat paths to the mineworkers down the street.
39:58
Speaker 5: She started with a one room school house before she
40:00
Speaker 5: got to Bethune Cookman University. More contemporary examples like Asa Ray.
40:04
Speaker 5: People want to talk about how she's on HBO now
40:07
Speaker 5: with Insecure but Awkward Black Girl was funded by a
40:11
Speaker 5: part of her salary and fundraising on YouTube where she
40:14
Speaker 5: introduced her series for free. So I think for black entrepreneurs,
40:18
Speaker 5: we have to learn how our predecessors did it without
40:21
Speaker 5: the benefit of white venture capital dollars or without the
40:24
Speaker 5: benefit of banks allocating us money. One other example, because
40:28
Speaker 5: I'm from Richmond, Maggie L. Walker started and well she
40:32
Speaker 5: was the first woman at that not black woman, but
40:35
Speaker 5: the first woman to charter a bank. She funded that
40:38
Speaker 5: bank with charitable contributions. Do you know how many black
40:41
Speaker 5: people go to a charity every single Sunday, which is
40:44
Speaker 5: the church? Those are five and one C threes. A
40:47
Speaker 5: five and one C three funded a for profit bank.
40:50
Speaker 5: So I'm saying, if we could study history, I think
40:51
Speaker 5: then we would be able to figure out better ways
40:54
Speaker 5: to be successful.
40:54
Speaker 2: We gotta study it and highlight it because a lot
40:57
Speaker 2: of times, especially when school, right when US history is taught,
41:03
Speaker 2: yes this is definitely omitted. So highlighting it, understanding it,
41:08
Speaker 2: and study. And now that we have access to the
41:11
Speaker 2: internet and we have access to social media where these
41:14
Speaker 2: stories can be high you know, the future generations there
41:17
Speaker 2: will be different stories now.
41:19
Speaker 5: I feel like, yes, yes, or I think they will
41:21
Speaker 5: be remembering of the stories that have been on.
41:23
Speaker 4: Top create one right now, Yeah, I do.
41:28
Speaker 3: So what would you say some other some other obstacles
41:30
Speaker 3: are outside of that.
41:32
Speaker 5: Outside of that, I mean you said funding, and I
41:34
Speaker 5: agree with that.
41:35
Speaker 3: I just.
41:39
Speaker 5: Fund so funding was coming. We talked earlier about the
41:43
Speaker 5: difference between a hustler and an entrepreneur. I think that
41:46
Speaker 5: that's important. I think the other thing is is that
41:50
Speaker 5: I think that people get caught up on this whole
41:52
Speaker 5: thing about were you born an entrepreneur or can you
41:55
Speaker 5: become an entrepreneur? You know, most people are like I
41:57
Speaker 5: was born this way, I woke up like this, right,
42:00
Speaker 5: But no, I think entrepreneur can absolutely be taught. You
42:03
Speaker 5: talked about us living in an information economy, Like, we
42:07
Speaker 5: are fortunate to live in a time period where information
42:12
Speaker 5: is basically at your fingertips. So, like, what I like
42:14
Speaker 5: to tell people who want to start a business and
42:15
Speaker 5: people who want to create wealth is don't swim in
42:18
Speaker 5: the ocean of knowledge and drown and ignorance. So that's important.
42:24
Speaker 5: The last thing I think that I would say is
42:26
Speaker 5: I don't think that you have to be the smartest
42:29
Speaker 5: person in the room to be a great entrepreneur. So
42:33
Speaker 5: people normally think you have to have a PhD. You know,
42:35
Speaker 5: we talked about that when we first got started, or
42:37
Speaker 5: you know, they think that you have to be a
42:39
Speaker 5: straight a student. Like I graduated from high school with
42:42
Speaker 5: like a two point three GPA. I wasn't the brightest student,
42:46
Speaker 5: but I was motivated and I was committed, and I
42:48
Speaker 5: thought that, you know, with me, if I could try
42:51
Speaker 5: hard enough, you know, if I if I could really
42:53
Speaker 5: commit myself to a passion, then I could you know,
42:56
Speaker 5: I could overcome the obstacle just one quick So I'm
43:00
Speaker 5: the story though, gosh, I don't thinking about his name. Okay,
43:03
Speaker 5: I'm not gonna tell that story.
43:07
Speaker 4: What's the guy.
43:07
Speaker 5: Hold on, who's the guy who had the pink? Y'all?
43:10
Speaker 5: Ain't never had a perm in your head?
43:11
Speaker 4: You know?
43:13
Speaker 5: Box, what's the name?
43:18
Speaker 4: I don't think.
43:20
Speaker 2: We just actually covered the industry and we just did
43:24
Speaker 2: that whole episode the way the barb he had any.
43:31
Speaker 3: You got the band in it?
43:33
Speaker 5: Oh? Oh yeah like this stuff? Want to Okay?
43:35
Speaker 3: Yeah, all right, So in the last semeon, we're going
43:40
Speaker 3: to talk about some financial literacy stuff and things that
43:42
Speaker 3: every day people can use in their day to day
43:44
Speaker 3: life to make better financial decisions and just become more
43:47
Speaker 3: knowledge all the way around. All right, So now we
43:49
Speaker 3: want to talk about un c F, but first I'll
43:51
Speaker 3: talk about some financial literacy topics because I know it's
43:54
Speaker 3: something that you're you're passionate about, especially like on social
43:56
Speaker 3: media Instagram and stuff like that. So all right, you
44:00
Speaker 3: said that when you talk about making smart decisions a lot,
44:03
Speaker 3: like mindset budgeting. I see you you speak about that
44:07
Speaker 3: a lot. Can you talk about that the importance of.
44:10
Speaker 5: It, that's important. I'm passionate about entrepreneurship and we were
44:15
Speaker 5: just talking about that, Like, I really think that black
44:19
Speaker 5: people should consider entrepreneurship and entrepreneurship entrepreneurship means that you
44:24
Speaker 5: can be entrepreneurial at your job. But I don't think
44:26
Speaker 5: that every black person should be an entrepreneur? Do I
44:29
Speaker 5: think that every black person should be an owner of assets?
44:33
Speaker 3: And so?
44:34
Speaker 5: On Instagram? You're right with professor Keys. I talk a
44:37
Speaker 5: lot about how people can be owner of assets because
44:41
Speaker 5: I do think that if you can multiply your streams
44:43
Speaker 5: of income, you can achieve the same type of economic
44:46
Speaker 5: freedom that I believe the entrepreneurship provides.
44:49
Speaker 3: So like, what does that mean, like multiplied like stream
44:54
Speaker 3: of income? No, like you said, like everybody can be
44:56
Speaker 3: an owner, like an owner.
44:57
Speaker 5: Of a house, owner of assets, owner of assets and assets.
45:01
Speaker 5: I think you can talk about multiple assets like you can, yes,
45:04
Speaker 5: own your home, you can own stocks, you can own bonds,
45:07
Speaker 5: you can invest in your four on one K, so
45:09
Speaker 5: like that type.
45:10
Speaker 3: Of own Okay, So at least because you said that
45:12
Speaker 3: one of the things you're really passionate about is four
45:13
Speaker 3: one k? Yes, So why are you passionate about four
45:16
Speaker 3: one k?
45:16
Speaker 5: So when I was going to get that good government job.
45:22
Speaker 4: Right now?
45:23
Speaker 5: Always, Actually, my very first job was as a receptionist, okay, So,
45:30
Speaker 5: and that was where I got a government job, and
45:32
Speaker 5: I remember when I first got my first paycheck, my
45:35
Speaker 5: mom was like, well, did you invest in your four
45:37
Speaker 5: one K? And I was like, well, what's that? And
45:39
Speaker 5: she was like retirement. I was like, mom, like one,
45:43
Speaker 5: like why no, I'm trying to like I'm trying to
45:45
Speaker 5: go to happy hour and she was like, you bet
45:47
Speaker 5: a happy hour dot four one K? Yes, yes, And
45:53
Speaker 5: I'm very grateful for that because people will ask me
45:55
Speaker 5: sometimes like what did I learn about financial literacy? And
45:58
Speaker 5: I really learned it from my mother before I started
46:00
Speaker 5: teaching it to myself. And she was like, the earlier
46:03
Speaker 5: you start investing in your four on one K, the better.
46:07
Speaker 5: And she was like, and it's going to be difficult
46:08
Speaker 5: if you're like actually taking your money and investing it.
46:11
Speaker 5: Talk to your employer and ask them about their retirement
46:15
Speaker 5: plan and usually they deduct it from your check before
46:18
Speaker 5: you even see it posted in your direct deposit. And
46:21
Speaker 5: she challenged me to also ask them about matching. So
46:23
Speaker 5: I didn't even know what that meant, but she's like,
46:25
Speaker 5: go ask them about matching. And at that time, my
46:27
Speaker 5: employer was matching six percent, so six percent of my salary,
46:32
Speaker 5: that's what that means. So I think at that plas
46:34
Speaker 5: making twenty nine thousand dollars, so whatever six percent of
46:37
Speaker 5: that was. Every dollar I contributed up to that amount,
46:40
Speaker 5: they would match it. So my mom was like, that's
46:42
Speaker 5: free money. Do you like free money? And I was like, well,
46:45
Speaker 5: I mean, is that a rhetorical question?
46:48
Speaker 4: Yeah, I like free money.
46:50
Speaker 5: And it turns into six thousand dollars and so it
46:54
Speaker 5: just automated. When I left that job, I rolled it
46:56
Speaker 5: into an individual retirement account and IRA and every single
47:00
Speaker 5: job that was one of the first questions that I asked,
47:02
Speaker 5: do you have a retirement apout? How can I contribute?
47:04
Speaker 5: And do you match? And at my age now in
47:07
Speaker 5: my thirties, I told him early I was fifty two thirties.
47:13
Speaker 5: I happened to look at my four one K earlier
47:15
Speaker 5: this year because my friend we were having a conversation.
47:17
Speaker 5: He was like, yeah, I got like four hundred thousand
47:19
Speaker 5: dollars in my four one cous like he got what.
47:21
Speaker 5: I was like, let me see what I got up
47:23
Speaker 5: in my IRA, my four one K. At that point
47:25
Speaker 5: I was working at UNCFS, so I had a four
47:27
Speaker 5: h three B account. The difference four one K is
47:29
Speaker 5: only for for profits four three B is for nonprofit organizations.
47:34
Speaker 5: They both do the same thing. You invest in four
47:36
Speaker 5: one ks and I had almost two hundred thousand dollars
47:39
Speaker 5: and I had not looked at it, and so I
47:41
Speaker 5: was like, you know what, what if I started actively
47:43
Speaker 5: managing it? Like this was one of the best pieces
47:45
Speaker 5: of advice that my mom gave me. And there's one
47:48
Speaker 5: statistic I want to share that's all Motley fool that
47:51
Speaker 5: if you start investing one hundred and twenty four dollars
47:55
Speaker 5: a week at the age of twenty five into your
47:58
Speaker 5: retirement account, you can essentially retire with a million dollars
48:02
Speaker 5: assuming a six percent return on your investment portfolio. And
48:06
Speaker 5: that means that at twenty four you can be or
48:08
Speaker 5: twenty five you can be contributed one hundred and twenty
48:10
Speaker 5: seven dollars a week. You can do that at thirty five,
48:13
Speaker 5: forty six, fifty four and that number never has to
48:16
Speaker 5: change in order to reach the one million dollar mark.
48:18
Speaker 5: So with all these people on Instagram talking about like
48:20
Speaker 5: twenty twenty is about like a bunch of millionaires, but
48:23
Speaker 5: if you ask them what they're plan is, they don't
48:25
Speaker 5: have it. It's going to be like a really good
48:28
Speaker 5: opportunity for them to start twenty twenty vision.
48:30
Speaker 3: Yeah, so you manage your own portfolio with the phone k,
48:33
Speaker 3: like you pick your own funds.
48:35
Speaker 5: I don't, but I'm starting to really learn. I didn't
48:37
Speaker 5: even know that that was an option.
48:39
Speaker 4: But I know a guy that could help.
48:40
Speaker 5: You know a guy, Please, we'll talk.
48:45
Speaker 4: The door bus.
48:48
Speaker 5: But one thing that I did learn is that you
48:50
Speaker 5: can select a target base accountget Yeah, that's that's based
48:55
Speaker 5: on your age and so like they basically invest the
48:58
Speaker 5: risk level according to the younger you are the risks
49:00
Speaker 5: your investments that you can make, and then the older
49:03
Speaker 5: you are the less risk because you're getting closer to retire.
49:06
Speaker 3: Yeah, the target target day fund is always good, I think,
49:09
Speaker 3: a good option because it's it's like an auto pilot. Yeah,
49:11
Speaker 3: but you know the thing with retirement accounts is that
49:13
Speaker 3: you want to be aggressive when you're young and conservative
49:15
Speaker 3: as you get older.
49:15
Speaker 5: Yeah.
49:16
Speaker 3: So a lot of times it's hard for people to
49:18
Speaker 3: kind of change it up themselves manage their own portfolio
49:21
Speaker 3: because you got so much stuff going on. But the
49:22
Speaker 3: target date is like designed to become more conservative as
49:25
Speaker 3: you're closer to that target date of your retirement.
49:28
Speaker 5: I got a question for you. Do you know that
49:29
Speaker 5: God should be talking to.
49:30
Speaker 2: Her shout out to you and the friend who had
49:36
Speaker 2: the four hundred thousand and four one K even having
49:38
Speaker 2: that type of conversation.
49:39
Speaker 5: Absolutely.
49:41
Speaker 2: There's not many people that I know outside of the
49:44
Speaker 2: group of Alisius team, but that have those type of conversations. Yeah,
49:47
Speaker 2: And a lot of times people say you will go
49:49
Speaker 2: as far as your conversations taking.
49:50
Speaker 5: Absolutely, you know what I mean, So that you need
49:51
Speaker 5: tweet that that was good, you can put that. Okay,
49:54
Speaker 5: I'll put that all that.
49:58
Speaker 3: And for one K is that's something that is not
50:00
Speaker 3: the most sexy investment, right, but it is practical.
50:04
Speaker 5: It's very practical.
50:05
Speaker 3: And I always tell people like you got to put
50:08
Speaker 3: different assets away for different things. So the full one
50:11
Speaker 3: K is for your retirement. It shouldn't be your only
50:13
Speaker 3: investment that's you have in life, but for a long
50:17
Speaker 3: term retirement savings is great. Especially like you said, if
50:19
Speaker 3: they match, that's free money. She'll always try if you
50:21
Speaker 3: can try to contribute at least up to the match. Yeah,
50:24
Speaker 3: because that's pretty much free money, right.
50:27
Speaker 5: And the other thing that I didn't know until I
50:29
Speaker 5: started doing my research as well, is that you can
50:32
Speaker 5: use some of the money in your retirement account for
50:34
Speaker 5: very specific purposes because if you withdraw early there will
50:37
Speaker 5: be the penalties. But you can use like ten thousand
50:39
Speaker 5: dollars for a down payment on your first home. You
50:41
Speaker 5: can use ten thousand dollars of it for educational expenses.
50:45
Speaker 5: You can use another ten thousand if you have any
50:47
Speaker 5: emergency like health considerations. That's thirty thousand dollars if you
50:51
Speaker 5: invest that much, if it's in your portfolio, that you
50:53
Speaker 5: can actually use.
50:54
Speaker 3: And another thing with the four one case, A lot
50:56
Speaker 3: of flexibility with the four one K is that you
50:58
Speaker 3: can borrow from it time, like up to fifty percent,
51:01
Speaker 3: up to fifty thousand. So but the good thing with
51:03
Speaker 3: the full I mean, it's pros and cons obviously because
51:05
Speaker 3: you're borrowing from your retirement, but if you have no
51:07
Speaker 3: other place to access money most of the time, most
51:10
Speaker 3: people like the most money that they have saved is
51:13
Speaker 3: in a four to one K, so now you can
51:15
Speaker 3: borrow from that. It's not a low interest rate. Then
51:17
Speaker 3: you went from a bank it was like three four percent,
51:19
Speaker 3: So you're pretty much borrowing from yourself and you're paying
51:21
Speaker 3: back yourself as opposed to taking a bank loan, let's
51:24
Speaker 3: say of ten percent, or just using your credit card
51:27
Speaker 3: at twenty one nineteen percent, you're borrowing at a much
51:30
Speaker 3: lower rate, and you're borrowing from yourself, so you're paying
51:33
Speaker 3: yourself back. So it's a lot of flexibility that people
51:35
Speaker 3: don't fully. I think a lot of times people these
51:37
Speaker 3: are just basic general investments. But it's like, this is
51:40
Speaker 3: what's gonna for the average American, right, this is going
51:43
Speaker 3: to make you a millionaire. Absolutely, your house a four
51:46
Speaker 3: to one k. Like you said, most people aren't going
51:49
Speaker 3: to start a business. We hope that everybody does, but
51:52
Speaker 3: it's just not realistic, right, Most people are not gonna
51:55
Speaker 3: have a million different exotic investments and a million dollars
52:00
Speaker 3: off bitcoin. It's just not gonna happen. But it's very
52:03
Speaker 3: practical to have a million dollars in your retirement, a home.
52:05
Speaker 3: Stuff like this. So I think, like these are conversations
52:07
Speaker 3: that outside of the really exciting sexy stuff, we got
52:12
Speaker 3: to have these conversations as well, for sure. For sure.
52:15
Speaker 3: So I saw I saw something that you you have
52:18
Speaker 3: put I think it was yesterday where you said that
52:21
Speaker 3: I guess a relationship had ended, because yeah, you put
52:28
Speaker 3: it on Instagram, so it.
52:29
Speaker 4: Is we're watching everything. We're watching everything.
52:32
Speaker 3: So the reason so it's holiday time, it's holiday time.
52:36
Speaker 3: It's holiday time, right, so people have to be responsible
52:40
Speaker 3: with this special right, and you got to think about
52:43
Speaker 3: generational wealth over short term gratification. So how do you
52:49
Speaker 3: feel about that?
52:51
Speaker 5: About the guy?
52:52
Speaker 3: Well, just general, just the whole general.
52:56
Speaker 4: Can you give us a paraphrase version of what happened?
53:01
Speaker 5: Yeah, I was. I was dating this guy. We went
53:05
Speaker 5: out for a couple of months, and he asked me
53:09
Speaker 5: to buy him some really expensive shoes for his birthday.
53:12
Speaker 5: In fact, eight hundred ball maid ball made.
53:17
Speaker 3: I mean.
53:21
Speaker 5: Only been like two months maybe to on a possible month,
53:25
Speaker 5: like like do I love it?
53:27
Speaker 3: Don't you feel?
53:29
Speaker 4: Like?
53:29
Speaker 3: That?
53:29
Speaker 5: Was?
53:30
Speaker 3: That was like a test that.
53:30
Speaker 5: Was like not that much. So And the conversation came
53:37
Speaker 5: after I had just told him that I had paid
53:40
Speaker 5: off all of my debt like credit card, car, student loans,
53:44
Speaker 5: so like we were celebrating and it was like, well,
53:46
Speaker 5: now that your credit card is like on a zero
53:49
Speaker 5: dollar ballance, like you can afford these shoes?
53:52
Speaker 6: No, bro?
53:53
Speaker 5: Like my interest right, you just said it was double digit?
53:56
Speaker 5: Are you about to make you put eight hundred dollars
53:58
Speaker 5: like on and so he a coup of me. And
54:02
Speaker 5: I actually think that was a good decision. I knew
54:04
Speaker 5: it was a good decision. So yeah, So for me,
54:07
Speaker 5: it really is about being fiscally responsible and not buying
54:11
Speaker 5: liabilities and masking it as an asset like that shoe
54:16
Speaker 5: is not going to in my opin, I don't know
54:17
Speaker 5: much about shoes. I don't think it's going to appreciate and.
54:19
Speaker 4: Value notty right high cause value very lower. Turn.
54:28
Speaker 3: Now it's emotions a lot of times too. It's people
54:31
Speaker 3: have to be you have to think long term, yeah, obviously,
54:35
Speaker 3: but you can't get caught up in short term gratification ratification. Yeah,
54:40
Speaker 3: and I see you talking about that. And also I
54:41
Speaker 3: see you talking about a lot like even with like relationships.
54:44
Speaker 3: I think that's important, Like when you say that like
54:46
Speaker 3: high data balls say, like I see you post a
54:48
Speaker 3: lot about relationships, and it's like that's a big component
54:51
Speaker 3: of wealth, don't they. Yeah, right, And it's like a
54:55
Speaker 3: lot of times like who you're with will dictate like
54:59
Speaker 3: or at least have a part to play in how
55:01
Speaker 3: you think, right, because it's like peer pressure, like if
55:04
Speaker 3: you're around somebody that's constantly telling you, like, we need
55:06
Speaker 3: to get this assets, we need to do this. Right,
55:07
Speaker 3: you're gonna automatically like if you're around your friends and
55:09
Speaker 3: saying that, or if you're around somebody it's like, let's
55:12
Speaker 3: just go to the mall, let's go on. Your mind's
55:14
Speaker 3: gonna be on that as well. Right, So, I what
55:16
Speaker 3: do you feel about that? You know?
55:18
Speaker 5: Like, I mean, I think he definitely wasn't watch my
55:21
Speaker 5: videos when he asked that question. But like one of
55:23
Speaker 5: the things that I like saying is that we're not
55:24
Speaker 5: flexing with liabilities anymore. Like this running around with Gucci
55:28
Speaker 5: like two weeks after you already was like you know,
55:31
Speaker 5: hashtag and f Gucci, you know, like you know, it's
55:35
Speaker 5: not that that's not the new flex. And what I
55:37
Speaker 5: really love about this whole movement that earned your leisures
55:40
Speaker 5: doing the Black up Start is getting into is that
55:42
Speaker 5: people are realizing that assets is the new flex. We
55:45
Speaker 5: do talk. I do talk a lot about relationships and
55:48
Speaker 5: the importance of breaking generational curses of poverty. I think
55:52
Speaker 5: sometimes we romanticize to struggle, Like we sit here, we
55:55
Speaker 5: talk about.
55:55
Speaker 3: Oh, you was started from the bottom bay, we came
55:57
Speaker 3: from from the bottom.
55:58
Speaker 5: But they don't want to get to the But we
56:00
Speaker 5: hear part right, And I think that the person that
56:03
Speaker 5: you partner with definitely does have an influence on how
56:06
Speaker 5: you are going to live that life. When you get
56:09
Speaker 5: married to someone, when you're in relationship with someone, you
56:12
Speaker 5: begin sharing a lot of things with them, And it's
56:14
Speaker 5: more than just emotions. It can be finances too. When
56:17
Speaker 5: you start making those you start making those joint decisions together,
56:21
Speaker 5: like buying the house, you gonna be talking about who
56:24
Speaker 5: has bad credit, who doesn't have bad credit? You know,
56:26
Speaker 5: like when you're talking about, hey, we need to invest
56:28
Speaker 5: in a four to one case, so a percentage of
56:30
Speaker 5: my paycheck is already being you know, contributed towards this,
56:33
Speaker 5: your partner maybe like, well, how come we can't go
56:35
Speaker 5: on vacation this year? And so I think it's important
56:37
Speaker 5: for people to get on that same page yes with
56:41
Speaker 5: one another.
56:42
Speaker 3: So no, it's important, and it's a conversation that we
56:44
Speaker 3: don't have a lot and yeah, we need to have
56:47
Speaker 3: like a whole episode on relationship.
56:48
Speaker 4: No, somebody actually asks me.
56:49
Speaker 2: A good friend of mine was saying that, you know,
56:51
Speaker 2: we talked about credit, But what happens when your spouse
56:54
Speaker 2: doesn't have great credit and the pressure of that.
56:56
Speaker 4: Or they ruin your credit or they ruin yours because
56:58
Speaker 4: they don't have it.
56:58
Speaker 3: You got a co sign a car for.
57:01
Speaker 2: Yeah, I don't think that those are like those are
57:07
Speaker 2: the conversations that you should be having dating.
57:09
Speaker 5: I'm not married. I'm not in a relationship right now,
57:12
Speaker 5: but I have been very intentional about when I do,
57:15
Speaker 5: you know, meet someone that I'm interested in. We do
57:16
Speaker 5: go out, like on our first and second day, I'm
57:19
Speaker 5: asking like what are you reading?
57:20
Speaker 4: Like what are you?
57:23
Speaker 5: I mean, I think that that could be a question
57:24
Speaker 5: for the third day. First the second day, I'm like, well,
57:28
Speaker 5: what are you interested in? Like, you know, it's payday,
57:31
Speaker 5: so I just bought to read Like do you got
57:33
Speaker 5: a robin Hood account? You don't know? Persons looking at
57:36
Speaker 5: me cross that like that, like that what you mean?
57:40
Speaker 4: Like exactly?
57:43
Speaker 5: So you know, That's how I know exactly where the
57:45
Speaker 5: mindset is. There's a guy actually that I connected with
57:49
Speaker 5: who teaches about socks, and we connected on the phone
57:53
Speaker 5: and like literally for four hours we were talking about
57:55
Speaker 5: exchange trade and funds, real estate investment trusts. Like he
57:58
Speaker 5: was telling me how he wanted to like invest in housing,
58:01
Speaker 5: like we were talking about, Like I didn't know. I
58:03
Speaker 5: just started repairing my own credit because I didn't know
58:07
Speaker 5: when you pay off all of your debt like that
58:10
Speaker 5: can drop your credit or like I literally close my
58:13
Speaker 5: credit card after I paid it all, and thirty days
58:17
Speaker 5: later when I got the notification that my credit had dropped,
58:19
Speaker 5: Like at that point, it was too late to reopen
58:21
Speaker 5: the card and I had that car for twelve years.
58:23
Speaker 5: He and I had that conversation about what it took
58:25
Speaker 5: to rebuild our credit. Like, I think that we need
58:28
Speaker 5: to change how we start connecting with people, whether it's
58:30
Speaker 5: friends or whether it's a person who you're in a
58:32
Speaker 5: relationship with or trying to get in a relationship.
58:34
Speaker 4: Conducting not speaking conducting conducting.
58:36
Speaker 3: Yeah, that's a fact that don't don't play it. So
58:40
Speaker 3: don't do that. Don't play it.
58:43
Speaker 5: I feel like there's a story behind it.
58:47
Speaker 3: Like I always say, positive pair pressure. Positive pair pressure
58:50
Speaker 3: is something that we learned early on as far as
58:52
Speaker 3: like even your your friends. Yeah right, it's like we
58:56
Speaker 3: know negative peer pressure. Yeah, obviously everybody knows that, but
58:59
Speaker 3: positive pressures, like if you're around people that's like doing well,
59:02
Speaker 3: Like if you're in a school and everybody's doing well.
59:05
Speaker 3: Nobody wants to be the dumbest person in class, so you're
59:07
Speaker 3: gonna naturally push yourself to not be the dumbest person
59:11
Speaker 3: in class, right, And that's positive fear pressure. So it's
59:13
Speaker 3: the same thing with finance, Like if you're around people
59:15
Speaker 3: that are making smart decisions, that's doing things, that's you know,
59:19
Speaker 3: buying real estate, you're not gonna be the one slacker.
59:21
Speaker 3: You don't want to be that one slacker. You want
59:23
Speaker 3: to have good credit like your friends have. So I
59:26
Speaker 3: think that these conversations are dope and it's really changing
59:28
Speaker 3: the narrative, especially in our community, because it for a
59:30
Speaker 3: long time it's not It wasn't nobody was having this conversation.
59:33
Speaker 3: Nobody better conversations. Well that's what we're doing that. So
59:40
Speaker 3: all right, well, thank you, thank you for coming.
59:43
Speaker 5: My god, our thank you for having me at all.
59:51
Speaker 3: So how can the people contact you? How can they
59:53
Speaker 3: get information on Black Upstart, any events you have coming up,
59:56
Speaker 3: what's supposed to deal?
59:57
Speaker 5: Yeah, so they can follow the Black Upstart, that's the
1:00:01
Speaker 5: tag Black up Start. They can also follow me at
1:00:05
Speaker 5: Kizi at mw k e z I a MW. We
1:00:09
Speaker 5: will be hosting boot camps across the nation in twenty
1:00:13
Speaker 5: twenty in six different markets, so North Carolina, Baltimore, Atlanta,
1:00:18
Speaker 5: New Orleans, Tulsa, Oklahoma. We're going back to Johannesburg, South Africa,
1:00:24
Speaker 5: and we'll release the whole list of cities the first
1:00:27
Speaker 5: week of January. And each one of those experiences are
1:00:30
Speaker 5: sponsored by cdf i's So we'd love to train up
1:00:33
Speaker 5: entrepreneurs and give you access to funding upon graduation.
1:00:36
Speaker 3: So all right, don't we gotta we gotta collapse on? Yeah, sure,
1:00:41
Speaker 3: South Africa.
1:00:43
Speaker 5: You can get food out.
1:00:47
Speaker 3: Heah, let's do that.
1:00:48
Speaker 4: That conversation.
1:00:50
Speaker 5: That's today.
1:00:51
Speaker 3: I love it, Troy some housekeeping it on.
1:00:54
Speaker 2: Shout everybody on patreon dot com. You know that's all
1:00:56
Speaker 2: Proud to pay program. We got some new members. Want
1:00:59
Speaker 2: to give them a shout out. Chris Ken, Ricardo and Sirita.
1:01:03
Speaker 2: I hope I pronounced that right. They kill you didn't
1:01:04
Speaker 2: pronounce how you know, lady? That happens a lot of it.
1:01:09
Speaker 2: Like Yo, man, I love my shoutout, but you left
1:01:11
Speaker 2: the letter out. I'm trying, Sirita. If I mispronounced it,
1:01:14
Speaker 2: I love you still, thank you for signing up for
1:01:15
Speaker 2: Early Leisure uh for Patreon that gives you access now
1:01:20
Speaker 2: to early leisure dot com.
1:01:21
Speaker 4: You know, if you're a Tier four or five member,
1:01:23
Speaker 4: you have access.
1:01:24
Speaker 2: To our new online school Man University and Rashot has
1:01:29
Speaker 2: to merch on. So that's that's on this way the
1:01:32
Speaker 2: new merch for Earnily Leisure University. And obviously I'm wearing
1:01:34
Speaker 2: the assets over liabilities.
1:01:36
Speaker 4: It's so the season. It's cold in New York. It's
1:01:38
Speaker 4: cold d C. So I get you a hoodie and
1:01:41
Speaker 4: keeps a point man.
1:01:42
Speaker 2: We appreciate it allows us to do things like this,
1:01:43
Speaker 2: come to DC and touch base with some people who
1:01:46
Speaker 2: are doing some amazing things.
1:01:48
Speaker 3: Yeah for sure. And once again in the merch eyl
1:01:50
Speaker 3: University to the new wave that we're on right now.
1:01:53
Speaker 3: It's really really dope platform. Maybe can teach a class
1:01:56
Speaker 3: for us what we do, Yeah for sure, we do.
1:01:58
Speaker 3: We do three classes a week and we have of
1:02:00
Speaker 3: like guest lecturers that we kind of rotate from our
1:02:03
Speaker 3: alumn that you're an alum, that's what we call our guests.
1:02:08
Speaker 3: So yeah, Yo University is really really dope platform that
1:02:10
Speaker 3: we're really proud of. And once again d M v
1:02:13
Speaker 3: Thank you for the hospitality Atlanta. We will see you
1:02:15
Speaker 3: guys soon January.
1:02:18
Speaker 4: That's a fact you put in your calendar.
1:02:23
Speaker 3: Five up for sure. So and the book tip of
1:02:26
Speaker 3: this week is, uh, the African American African American entrepreneurship
1:02:30
Speaker 3: then and now. So this whole conversation, well the large
1:02:33
Speaker 3: majority of conversation was about entrepreneurship. So there's something that
1:02:37
Speaker 3: we want to just keep encouraging people to become entrepreneurs,
1:02:39
Speaker 3: but not just come become entrepreneur just to say you're
1:02:41
Speaker 3: an entrepreneur to win, like you don't want to just
1:02:44
Speaker 3: play the game. You want to actually win and that's.
1:02:47
Speaker 4: Help other people.
1:02:48
Speaker 3: Yeah, exactly, And that's what happened. The plan is about,
1:02:49
Speaker 3: and that's what having strategy is about. So that's what
1:02:52
Speaker 3: it's about. So once again, thank you guys for rocking
1:02:54
Speaker 3: with us. We'll see you next week.
1:02:55
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