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Scholars Corner: The Steps to Business Banking & Business Credit · Earn Your Leisure

• 0:00
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 0:03
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 0:07
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 0:11
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 0:15
  Speaker 1: some of the heinous migrant criminals caught because of President
• 0:19
  Speaker 1: Donald J.
• 0:20
  Speaker 2: Trump's leadership.
• 0:21
  Speaker 1: I'm Christy nom the United States Secretary of Homeland Security.
• 0:25
  Speaker 1: Under President Trump, attempted illegal border crossings are at the
• 0:29
  Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal
• 0:33
  Speaker 1: aliens have been arrested. If you are here illegally, your
• 0:37
  Speaker 1: next you will be fined nearly one thousand dollars a day, imprisoned,
• 0:41
  Speaker 1: and deported.
• 0:42
  Speaker 2: You will never return.
• 0:44
  Speaker 1: But if you register using our CBP home app and
• 0:47
  Speaker 1: leave now, you could be allowed to return legally.
• 0:50
  Speaker 2: Do what's right. Leave now.
• 0:53
  Speaker 1: Under President Trump, America's laws, border and families will.
• 0:57
  Speaker 3: Be protected sponsored by the United States Department of Homeland Security.
• 1:00
  Speaker 4: So business banking is important, Okay, you want to keep
• 1:04
  Speaker 4: all of your transactions and a business account for bookkeeping,
• 1:09
  Speaker 4: for taxes, and to just help you get access to funding. Right,
• 1:16
  Speaker 4: So remember, if you want to. You don't want to
• 1:18
  Speaker 4: co mingle your funds. You don't want to have some
• 1:20
  Speaker 4: personal things going on, and you have business bank account,
• 1:22
  Speaker 4: you take it from here switching over there, like we're
• 1:24
  Speaker 4: not doing all that. We're gonna keep this legit and
• 1:27
  Speaker 4: we're not gonna get trouble by nobody's no irs is
• 1:30
  Speaker 4: the States, none of that. So remember you want to
• 1:32
  Speaker 4: keep your funds separate, separate, Okay, so only use your
• 1:38
  Speaker 4: business account for business transactions and you use your personal
• 1:41
  Speaker 4: account for your personal transactions.
• 1:43
  Speaker 5: All right.
• 1:45
  Speaker 4: Definitely you want to establish our relationship with your local
• 1:48
  Speaker 4: bank establishments. You definitely want to do that. I know
• 1:52
  Speaker 4: that credit unions often are known for you know, giving
• 1:58
  Speaker 4: out the bag or whatever like that. But then we
• 1:59
  Speaker 4: have these great big banks like Bank of America, Chase, right,
• 2:04
  Speaker 4: and they're giving out banks too. So definitely consider yourself
• 2:09
  Speaker 4: as a little bit of a polygamus when it comes
• 2:11
  Speaker 4: to dating banking world. Okay, when you just loyal to
• 2:14
  Speaker 4: one bank, we loyal to a lot of banks. We
• 2:17
  Speaker 4: married to a lot of banks. Okay, do your credit
• 2:19
  Speaker 4: unions do those big banks. I'm telling you, don't just
• 2:23
  Speaker 4: establish one account, establish a couple accounts all right, especially
• 2:27
  Speaker 4: if you need like a credit card, you want to
• 2:30
  Speaker 4: start maybe with a Tier one credit card to help
• 2:33
  Speaker 4: you get like established if you don't have credit. Okay,
• 2:36
  Speaker 4: I want you to remember that on Saturdays at nine
• 2:39
  Speaker 4: fifteen Brandon he has the business funding course and baby
• 2:46
  Speaker 4: his notions or is it no, he has this document Honey.
• 2:52
  Speaker 4: It took me days to look through that document and
• 2:55
  Speaker 4: I was like, oh, yeah, I'm doing this, I'm taking this.
• 2:58
  Speaker 4: So definitely, if you need more information about business funding
• 3:03
  Speaker 4: nine fifteen, I believe on Saturdays and Sundays he's got
• 3:07
  Speaker 4: the weekend courses, tap in, go back and look at
• 3:10
  Speaker 4: some of them videos, go into that study hall. Then
• 3:14
  Speaker 4: click on that link with that notion. That thing is
• 3:16
  Speaker 4: full lot of gems. Okay. So overall, establish credit early
• 3:23
  Speaker 4: and use it wisely. All right, we ain't mixing no
• 3:27
  Speaker 4: business in personal, but if you do, that's your business.
• 3:30
  Speaker 4: So the final part right of setting up your credit
• 3:34
  Speaker 4: repair business is to make sure that you get you're
• 3:38
  Speaker 4: surety buy. And this was such a pain point for
• 3:41
  Speaker 4: me because to be a legit business, yes, you do
• 3:45
  Speaker 4: need to have it to operate. I do understand some
• 3:47
  Speaker 4: of us are not at that financial place. Where we
• 3:49
  Speaker 4: could drop fifteen hundred dollars for one state and another
• 3:54
  Speaker 4: state is charging US three hundred and another state is
• 3:57
  Speaker 4: charging US seven fifty. I understand saying that, but I'm
• 4:02
  Speaker 4: going to tell you, because you know I'm being honest,
• 4:05
  Speaker 4: you need to have some type of insurance. Okay, you
• 4:08
  Speaker 4: need to have it now. Flexing with the time that
• 4:12
  Speaker 4: you get it is up to you. I do recommend
• 4:15
  Speaker 4: maybe you get a couple of clients in that state,
• 4:18
  Speaker 4: and if your surety bond is like one hundred, like
• 4:21
  Speaker 4: fifteen hundred dollars or one thousand dollars, you know, definitely
• 4:24
  Speaker 4: have to negotiate, you know, a couple of times. But
• 4:29
  Speaker 4: get some clients because then when they come in, they
• 4:32
  Speaker 4: can help offset the costs of that surety bond. Okay,
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  Speaker 4: So you may not know this upfront, so establish a
• 4:40
  Speaker 4: relationship with a few bond companies beforehand. It's okay to
• 4:45
  Speaker 4: pick up the telephone and call people. And don't be surprised.
• 4:48
  Speaker 4: Some people still work and remote. So you can call
• 4:51
  Speaker 4: them and hear the little dog in the background, you
• 4:53
  Speaker 4: can hear the baby crying, somebody on their lap nursing.
• 4:56
  Speaker 5: It's fine.
• 4:56
  Speaker 4: They want to talk to people. They want to have
• 4:58
  Speaker 4: this connection, so feel free to make as many phone
• 5:01
  Speaker 4: calls as you need if you have the time to
• 5:04
  Speaker 4: establish relationships. You don't have to buy anything right now. Okay.
• 5:09
  Speaker 4: So again, depending on your state, you may have to
• 5:13
  Speaker 4: pay five to fifteen percent of the buying amount, So
• 5:17
  Speaker 4: this could get costly if you ain't calif on you
• 5:20
  Speaker 4: and they buying as one hundred thousand dollars. Okay, just
• 5:24
  Speaker 4: putting it out there, all right, do your due diligence, yes,
• 5:33
  Speaker 4: get coverage and be safe. Then sorry, okay, I want
• 5:38
  Speaker 4: you to be one of them people that got a fifteen.
• 5:42
  Speaker 6: This episode is brought to you by P and C Bank.
• 5:45
  Speaker 6: A lot of people think podcasts about work are boring,
• 5:48
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• 5:52
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• 6:00
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• 6:02
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• 6:20
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• 6:25
  Speaker 3: Earners. What's Up?
• 6:26
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• 6:29
  Speaker 6: works like the checkout is fast, the receipts are digital,
• 6:32
  Speaker 6: tipping is a breeze, and you're out the door before
• 6:35
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• 6:40
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• 6:42
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• 6:46
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• 6:48
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• 6:52
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• 6:56
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• 6:59
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• 7:03
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• 7:06
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• 7:09
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• 7:12
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• 7:20
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• 7:26
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• 7:29
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• 7:32
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 7:36
  Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador
• 7:40
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 7:44
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 7:48
  Speaker 1: some of the heinous migrant criminals caught because of President
• 7:52
  Speaker 1: Donald J.
• 7:53
  Speaker 2: Trump's leadership.
• 7:54
  Speaker 1: I'm Christine Nohm, the United States Secretary of Homeland Security.
• 7:58
  Speaker 1: Under President Trump did illegal border crossings are at the
• 8:02
  Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal
• 8:06
  Speaker 1: aliens have been arrested.
• 8:07
  Speaker 2: If you were here illegally, you're next.
• 8:10
  Speaker 1: You will be fine nearly one thousand dollars a day,
• 8:13
  Speaker 1: imprisoned and deported.
• 8:15
  Speaker 2: You will never return.
• 8:17
  Speaker 1: But if you register using our CBP home app and
• 8:20
  Speaker 1: leave now, you could be allowed to return legally.
• 8:23
  Speaker 2: Do what's right. Leave now.
• 8:25
  Speaker 1: Under President Trump America's laws, border and families will be protected.
• 8:30
  Speaker 3: Sponsored by the United States Department of Homeland Security.
• 8:33
  Speaker 4: Some thousand dollars buyd and the state requires you to
• 8:35
  Speaker 4: pay you know, a minimum of like you know, five percent.
• 8:38
  Speaker 5: Like that's cool.
• 8:39
  Speaker 4: Because you would pay seven hundred and fifty dollars. Now,
• 8:42
  Speaker 4: some of us could talk it and some of us,
• 8:44
  Speaker 4: you know, we just got to get a couple of
• 8:45
  Speaker 4: clients and then need barbels to be able to pay it.
• 8:46
  Speaker 4: So again, make sure you negotiate the costs. You do
• 8:50
  Speaker 4: not have to accept the first offer. I don't like
• 8:53
  Speaker 4: the word haggle, but negotiate. Okay, think about it this way.
• 8:58
  Speaker 4: If you're coupling your credit repair business with another service
• 9:01
  Speaker 4: like business coaching, your customers will be paying you for
• 9:06
  Speaker 4: that service, which will give you time to establish the
• 9:09
  Speaker 4: bond before you work on the credit repair. Okay, So
• 9:13
  Speaker 4: just another way that you can spin it so that
• 9:16
  Speaker 4: it could be affordable for you. Because I know that
• 9:18
  Speaker 4: some of us are starting this out. We got to
• 9:20
  Speaker 4: get websites, you gotta pay for a virtual address, you
• 9:22
  Speaker 4: gotta pay for a telephone number. You got to make
• 9:25
  Speaker 4: sure that you pay the fees to get your you
• 9:28
  Speaker 4: know ei Like, it's just a whole you know system here.
• 9:31
  Speaker 4: So I just want to make sure that we're clear
• 9:34
  Speaker 4: that there are ways that you can do it, all right,
• 9:36
  Speaker 4: So just make sure that you get the BUYD in
• 9:39
  Speaker 4: the state where your customers reside. Don't just be out
• 9:42
  Speaker 4: head buying crazy shopping calling different places. I want to
• 9:45
  Speaker 4: buy over here in New York, give me one, to
• 9:47
  Speaker 4: give me one out of a Delaware of Maybe I
• 9:50
  Speaker 4: want one in Indiana too. No, we're not shopping for buonds.
• 9:53
  Speaker 4: Make sure that there's a purpose behind the reason why
• 9:55
  Speaker 4: you need buying. Okay, And don't forget to adhere to
• 9:59
  Speaker 4: the state and local laws for your business license or registration.
• 10:04
  Speaker 4: I know here in the city they make their money
• 10:06
  Speaker 4: because you have to get a license. Our Pennsylvania doesn't
• 10:10
  Speaker 4: require you to get a license, but the city of Philadelphia,
• 10:13
  Speaker 4: they require you to get a license, and that's how
• 10:15
  Speaker 4: they charge you for your taxes. Okay, so we reviewed
• 10:19
  Speaker 4: this in last class that I'm positive that you all
• 10:23
  Speaker 4: have this part down packed, right, got a downpack. Now,
• 10:28
  Speaker 4: the two items, your shirty bund and your business license
• 10:32
  Speaker 4: are extremely important. Even though you got a downpack. I
• 10:35
  Speaker 4: just want to let you know this is extremely important.
• 10:38
  Speaker 5: Okay. I know you got it.
• 10:40
  Speaker 3: I know you got it.
• 10:40
  Speaker 4: I know you got it. I know you got it.
• 10:41
  Speaker 4: I know you got it. All right, Ernest, Now that's
• 10:44
  Speaker 4: most of what we covered up till today. We have
• 10:48
  Speaker 4: a few more topics, but I want to take a
• 10:51
  Speaker 4: minute to hear from you if it's possible. Right, some
• 10:56
  Speaker 4: of us were brand new and we were.
• 10:59
  Speaker 2: Just out in class.
• 11:01
  Speaker 4: Some of us have already started our businesses that actually
• 11:03
  Speaker 4: had businesses on the show for a couple of years.
• 11:04
  Speaker 4: I heard, right, But here we're all here for that support. Okay,
• 11:10
  Speaker 4: So what tips do we have for one another? I
• 11:13
  Speaker 4: want you guys to just dig deep down, be supportive.
• 11:19
  Speaker 4: I don't know if we can go on Mike, but
• 11:21
  Speaker 4: it would be nice to hear somebody else talk other
• 11:23
  Speaker 4: than the mag Does that possible? If not, we got
• 11:26
  Speaker 4: to read and the check. You tell me how much
• 11:30
  Speaker 4: time do we have for this particular activity. Well, what
• 11:33
  Speaker 4: I'll do is give people sixty seconds on the clock.
• 11:37
  Speaker 4: And you know, some of us, like I said, we're here,
• 11:43
  Speaker 4: we're starting out our business and some of us have
• 11:45
  Speaker 4: already done it. So we're here to support each other.
• 11:48
  Speaker 4: What tips do you have for one another? In sixty seconds?
• 11:52
  Speaker 4: I'm giving my clock.
• 11:55
  Speaker 2: Y'all heard that sixty seconds?
• 11:57
  Speaker 4: So the first person is richer on yourself and go.
• 12:06
  Speaker 6: You.
• 12:07
  Speaker 5: Thank you very much, appreciate everything you guys are doing.
• 12:11
  Speaker 5: This great class. Cat you like again, it's like I
• 12:16
  Speaker 5: don't know who's gonna win that vote.
• 12:19
  Speaker 4: I'm gonna pause my clock for you. You keep on going, brother.
• 12:22
  Speaker 5: Listen, quick ah, quick tip is just make sure that everybody,
• 12:28
  Speaker 5: you know, just be patient. And everybody's trying to make
• 12:30
  Speaker 5: some money out here, but just be patient, do your
• 12:33
  Speaker 5: due diligence. You know, get insurance for the purpose of,
• 12:38
  Speaker 5: you know, somebody just try to sue you for any reason.
• 12:43
  Speaker 5: People out here trying to get paid regardless. So you
• 12:47
  Speaker 5: just got to make sure that, you know, just get
• 12:50
  Speaker 5: everything straight. Be patient. You know, a lot of posting,
• 12:53
  Speaker 5: and that's what I got from these courses, you know.
• 12:56
  Speaker 5: Just that's my tip to y'all. I'm right here and Rockville,
• 12:59
  Speaker 5: Maryland for y'all.
• 13:01
  Speaker 3: So DMB, that's.
• 13:05
  Speaker 4: What I'm talking about. And you did it in a
• 13:07
  Speaker 4: minute too.
• 13:07
  Speaker 5: Croy DMB baby DVDC.
• 13:13
  Speaker 4: Thanks.
• 13:14
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 13:17
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 13:21
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 13:25
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 13:29
  Speaker 1: some of the heinous migrant criminals caught because of President
• 13:33
  Speaker 1: Donald J.
• 13:34
  Speaker 2: Trump's leadership.
• 13:35
  Speaker 1: I'm Christy Noman, the United States Secretary of Homeland Security.
• 13:39
  Speaker 1: Under President Trump, attempted illegal border crossings are at the
• 13:43
  Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal aliens.
• 13:47
  Speaker 2: Have been arrested.
• 13:48
  Speaker 1: If you are here illegally, your next you will be
• 13:52
  Speaker 1: fine nearly one thousand dollars a day, imprisoned, and deported.
• 13:56
  Speaker 2: You will never return.
• 13:58
  Speaker 1: But if you register using our DBP home app and
• 14:01
  Speaker 1: leave now, you could be allowed to return legally.
• 14:04
  Speaker 2: Do what's right. Leave now.
• 14:07
  Speaker 1: Under President Trump, America's laws, border and families will be protected.
• 14:11
  Speaker 3: Sponsored by the United States Department of Homeland Security.