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Alternative Lending for Small Business Owners with Oz Konar · Healthy Happy Wise Wealthy

• Mary Meyer [0:05]: Welcome back to Healthy, Happy, Wise, Wealthy. We have with us today Oz Konar with Business Lending Blueprint, and he is out of the, the East Coast, uh, near, near New York City. Mary Meyer [0:43]: So, and before we get started, Oz, I just wanna say we have a podcast sponsor, um, an IT company I've worked with with past businesses called MindIII, which is M-I-N-D with three I's, I-I-I. Mary Meyer [0:53]: So they do everything. Um, in fact, I just looked up what full stack means. Um, do you know what that means? I'm like- Mary Meyer [1:00]: I'm, I'm learning Mary Meyer [1:00]: ... well, they were like we need a full stack. You probably do know. Dr Oz Konar [1:04]: Yeah. Mary Meyer [1:04]: 'Cause you're- Dr Oz Konar [1:05]: If they, they do the front end, the back end, and everything basically. The unicorns. Mary Meyer [1:10]: Yeah. I mean, I actually did a, a business where it was a website business, uh, with selling furniture and decor, so I learned the front end of the store, the back end of the store- Dr Oz Konar [1:21]: Yes Mary Meyer [1:21]: ... like the website, what they see, what you do in the back end, and then all the connections to everywhere people can buy outside of your website. So like setting up all that. Full stack. Okay. So I learned something I feel like I should have known before but... Dr Oz Konar [1:36]: Hey, it's never late, right? Like full stack- Mary Meyer [1:38]: Yeah Dr Oz Konar [1:38]: ... is like the back end people work on the functionality, front end people try to make it pretty and sexy. Dr Oz Konar [1:43]: That's, that's how I know it. Like that's, that's, in my mind, that's how it works. Okay. Functionality- Mary Meyer [1:47]: Yeah Dr Oz Konar [1:47]: ... works but it looks ugly, then the other people come in and make it pretty, and the full stack is th- someone or some company doing all of that, which is super impressive. Mary Meyer [1:55]: Yeah, yeah. So I, I thought that was impressive too. Once I looked it up, I'm like, "Oh, I... That makes sense and that's awesome." So okay, so Oz, tell me, Business Lending Blueprint, so this has been in going since 2018? Dr Oz Konar [2:08]: Yeah. It's been a while. Mary Meyer [2:09]: When you started it? Dr Oz Konar [2:10]: Yeah. We started out- Mary Meyer [2:12]: So that's- Dr Oz Konar [2:12]: ... uh, by accident, quite honestly. Mary Meyer [2:16]: Okay. Dr Oz Konar [2:16]: So I was in the alternative lending industry already prior to... Like, I founded my company in 2014. Dr Oz Konar [2:22]: Um, prior to that, I was a loan broker myself, selling the actual loans and hitting the streets, hitting the phones. Then I learned about marketing, took courses. I got some coaching 'cause I was tired of doing door-to-door. Like, it's never that fun if you do it for a long period of time. Hustle is good, but if it's a long-term strategy, it sucks. Mary Meyer [2:40]: Yeah. Dr Oz Konar [2:40]: And then I said, "All right, this is cool, but I gotta learn how to get in front of masses," and took courses on marketing, some mastermind. Dr Oz Konar [2:47]: Then I noticed that in the alternative lending industry, a lot of the business loan brokers and lenders, they had no idea about marketing. They were like pretty much operating out of a boiler room, Wolf of Wall Street mentality. Dr Oz Konar [2:58]: Like go after them, smile and dial. So I set up a marketing agency to help them on online marketing, so that was like three, four years up until 2018. Dr Oz Konar [3:06]: And to, to, to get, get the word out there about what we do, I was shooting videos, right? Dr Oz Konar [3:11]: And something accidental happened, and I started attracting people who wanted to get into the industry. They're not in there, and they were like, "Wait, what are you talking about? This sounds attractive. I'm in finances. I'm in mortgage. I wanna do that." And we started accumulating like a list of people that I had no idea what to do with them. And then my assistant at the time, she was like, "Boss, we... Dr Oz Konar [3:31]: Maybe you offer them a training. Like jump on a Zoom call and talk to them about what it is that you do." And I sent an email. It was a small list. Dr Oz Konar [3:38]: And I said, uh, "Are you guys like really, really interested about learning this?" Everyone was like, "Yes, yes, yes, yes, yes." I said, "Okay, I can put together like an eight-week training, nothing put together in a, a content. Dr Oz Konar [3:48]: I, I will just... I'll just show up and talk about it and answer questions." We had like 38 or 40 people who bought it for like a thousand, um, $900 or something like that back then. Mary Meyer [3:58]: Nice. Dr Oz Konar [3:58]: That's when I'm like, "Holy cow. There is something there." And it slowly like th- then, then we, we were at like 2018, the first actual launch happened, and we never looked back. Ever since then, it's been growing. Yeah. Mary Meyer [4:10]: That's amazing. Well, the marketing is fabulous. Like, you know, the... I think the... Mary Meyer [4:15]: You do... Whatever training you took on marketing, you have mastered. So, um, that different- Dr Oz Konar [4:22]: Thank you Mary Meyer [4:22]: ... yeah, the funnel marketing. So, so tell people kind of the base. The... It's basically you're, you're helping people be their own lenders. Dr Oz Konar [4:30]: Um, not really. Mary Meyer [4:31]: For small business loans. Dr Oz Konar [4:31]: Initially, we're helping them become the middle guy or the girls that the, uh... Because businesses need capital, right? Especially small businesses. Mary Meyer [4:39]: Right. Dr Oz Konar [4:39]: The big problem is they can't really get it from the banks unless you have collateral to show, your homes, cars, and equipment in the business, which is not most of the small businesses. Usually mid-size and large-size businesses have all of that. Uh, but the 70% of the US economy is small, small businesses, and when they apply for funding, there's really not much of an option for them, right? Dr Oz Konar [5:02]: So we noticed that the banks, especially after 2008, um, that the big bubble, basically the recession, all the banks restricted their funding to hedge their risk. Then that impacted small businesses massively, and that created a, a sub-banking industry. We call it the alternative lending industry. Uh, so these small businesses need capital. They can't get it. Dr Oz Konar [5:23]: And then, uh, brokers are the middle people that connects the people who need money with the people who have money, the lenders. And these lenders could be small banks, private investors, venture capital, and things like that, and they're looking at the individual business, not like a banking decision, policy decision, individually underwritten and funded. So we're teaching people how to become the broker in between, and every time there's a transaction happens, like a small business gets funding, um, they make money. Dr Oz Konar [5:51]: And over time, uh, when they become like a full-time business loan broker, then they can also learn how to become a lender slowly if they wanna do that. But our main focus is people who are either going through a career change or they're in a parallel industry, like mortgages, finance, sales, um, or people-Who are happy with their business, but they just wanna add funding to it, like accountants. Dr Oz Konar [6:14]: Accountant is never looking to become a business loan broker, but they deal with customers who come to them saying, "Hey Mary, how do I get funding for my business to pay the tax or hire more people," and things like that. And they usually tell them, "Just go to Bank of America," knowing that it's not gonna help. So we also help them add a funding element to become like a broker through our system. Dr Oz Konar [6:35]: Um, does, does that, does that answer your question, like what we do? Like helping people get... break into the industry, understand it, have access to the lender network? Mary Meyer [6:42]: Yeah. Dr Oz Konar [6:42]: 'Cause that's the big problem. When Mary decides to become a business loan broker, it's nice and dandy, but she probably doesn't know who funds what, and, uh, and trying to figure it out, decipher it out of Google and ChatGPT will take forever. We handle all of that, and someone can come in all ready to go and focus on generating leads, and we do everything else, basically. Mary Meyer [7:01]: Yeah. Oh, that's great. So if someone is a small business and they're listening to this and they're like, "I would like some capital," is there a place they can go to to find a broker? Dr Oz Konar [7:12]: Yeah. They can go to our website. Uh, they can fill out the form, basically, if they're looking for businesslendingblueprint.com. So they can fill out the form and put an inquiry on what it is that they need. We, we usually ask like five, six questions. How long you been in business? How much are you looking for? Dr Oz Konar [7:26]: Uh, what are you gonna do with the money, and how soon do you need it, basically, so we can match it to a specific funding, uh, uh, vehicle. Dr Oz Konar [7:33]: Uh, because if someone needs money yesterday, like an emergency, right, the fridge broke or the car, the truck doesn't work anymore and they don't have time to go for like a government-backed funding like SBA, that could take like eight weeks, right? So we can help them. Dr Oz Konar [7:47]: Versus someone says, "Hey, I have this unique opportunity. My next-door neighbor's moving out, I wanna buy him out," like an expansion project, and that's like a larger project. Dr Oz Konar [7:56]: So, uh, again, what- whatever they have going on, we want them to tell us the story of why they need capital. So based on that, we have about 12 different funding options, right? So we can match them to the appropriate, either the broker or the funding option. Uh, or a lot of the people that we provide funding, they go, "This is a cool business. Can I also do this and offer it to my customers?" type of thing. Mary Meyer [8:17]: Yeah. No, I can think of so many people that I think would, would wanna t- to jump on to help with that. And also, I just... You know, and I, I'm in Reno- Mary Meyer [8:27]: ... now. I, I moved... I've, I've lived on the, in Atlanta, so east coast, central USA. Mary Meyer [8:34]: Uh, so this is kinda new for me, but they have a huge, uh, entrepreneurial base of people. Dr Oz Konar [8:41]: Ah, interesting. Mary Meyer [8:42]: And I, it does really feel like people don't know where to get funding. And there's even events where there's, you know, the, you know, the investors and that kinda thing who are looking to invest, and it's still kinda like, oh, we gotta find an investor, find an investor. And, um, this, this is, uh, I think would be life-changing I think for a lot of people who know about it. Dr Oz Konar [9:07]: Could be, Mary. I think you nailed something. A lot of the times it's not that bus- small businesses are picky, they just don't know how to get it. Like, we've funded thousands of people through our network. The, the question, like the comment we always get is, "I didn't even know that this existed." Like, they had no clue. Dr Oz Konar [9:23]: They thought, "Well, if I need money, either I app- I, I go to Google and apply for credit cards, like random credit cards to see if I can get it, friends and family maybe," right? "If I have a rich uncle." Or, "The thing is I'm gonna walk into my local branch and apply." And they get disappointed and they think that's the end of the story. Dr Oz Konar [9:39]: "I can't get funding." The, because the branch tells them, "Oh, you gotta be in business for X amount of time. We gotta see the financials," and things like that. Yeah, that's cool and nice, but they don't have it yet maybe, right? So- Mary Meyer [9:50]: Right Dr Oz Konar [9:51]: ... the, the, and, and, and then they're just kinda up against the wall. So whenever we go... We do our own events too. Like, when we talk to people, a lot of times it's not that they're not interested, they just didn't even know that alternative lending even existed, which is an interesting phenomena, you know? Mary Meyer [10:05]: Yeah. That is, for sure, that's an interesting phenomenon. And it does seem like, um... And I, I've talked with so many. The business I was... I was doing marketing as I, as I got here, which I kind of got out of that. But- Mary Meyer [10:18]: ... um, talking to business, uh, bankers also, uh, and then talking to all the small businesses of different levels, and even doctors' clinics and stuff like that were having a hard time getting lending. Dr Oz Konar [10:31]: Yes. Mary Meyer [10:32]: So it does seem like you have to not need lending before they're gonna give it to you. Dr Oz Konar [10:40]: Sure. Yeah. Like, we found a lot of dentists that it, it, it, it, it just baffles them, right? When you... With, with... Think about a stable business. I would think of like a doctor's office, like they never shut down or anything like that. They usually have great credit, uh, like very conservative people. Dr Oz Konar [10:54]: They pay their bills on time. Dr Oz Konar [10:56]: They go to a bank. Like, uh, we were talking to a dentist. All he needed was a new dental chair, and depending on the type and y- y, you know, model, whatever, they can go up to like 20, 30, 40,000, right? And this lady, she has the money, but she has enough financial discipline to know not to touch cash and finance it. She goes to the bank. Bank is like, "Yeah, we c- we can't do that." She's like, "Wait, I... Do you see my checking account? Dr Oz Konar [11:18]: Like, I have money in there, right? You know I can just buy it as cash." They're like, "Yeah, we need this and..." She was like so disappointed. And we have like equipment financing funding option, right? We can literally look at the equipment, finance the equipment. When o- one of our brokers did it, she was like, "It should be like this. Dr Oz Konar [11:34]: Like, this makes sense. The bank doesn't make sense." I'm like, "I know. That's just how it is, unfortunately." Like, they don't... They look at certain things, and, um, they're nice people, but the bank managers, the person sitting in that chair doesn't even understand. They just log in, check some things, and they say, "We can't help." Like, this, they're not trained for that either. Um- Dr Oz Konar [11:53]: ... I think the, the reputation of the banks have been going down the drain over the past couple years. You pro- probably noticed, right? So I don't see many people really enjoying their experience with the banks. They have like a major reputational issues. Um, and it used to not be like that. Uh, now it's like everyone is like, "Oh, my bank, I only go there when I need to. I don't like him." So then that, that, uh, that's the, like an inverse relationship that keeps growing the alternative lending industry. Dr Oz Konar [12:20]: Now people are having the awareness slowly, "Okay, I gotta look at other options to see who can fund me." Dr Oz Konar [12:26]: Because also there's the level of-I guess, um, uh, awareness and it's okay to grow through funding, right? Mary Meyer [12:34]: Yeah. Dr Oz Konar [12:35]: Uh, so that was also a no-no in the past for small businesses. I'm gonna bootstrap, I'm gonna hustle. That's fine, but also you, you could act- if, if the business is sound, the idea is sound, it's okay to grow through debt. Like you're, you're a business. It's not like you're taking the money and go on a shopping spree. Like you're investing into the business. Like let's take that dental chair. She knows that if she puts in that chair in that room, she's gonna generate X amount of money, right? Mary Meyer [12:57]: Right. Dr Oz Konar [12:58]: That's the very... Yeah, the return is there. It's not like she's trying to- Dr Oz Konar [13:01]: Right Dr Oz Konar [13:01]: ... buy a fancy car with the money. Mary Meyer [13:03]: Right. Yeah, and that's such a safe, such a safe investment to do that, you know? Dr Oz Konar [13:09]: I don't know what else they need to do. Like you become a dentist, go to medical school and dental school, have been there for 10 years. Poor lady, uh, she's like, "What do I, what else do I need to do?" I'm like, "I, I get it." Yeah. Mary Meyer [13:19]: Yeah. It's kinda, it's nutty. So if someone goes, "Yeah, I definitely wanna sign up to help to be a, a, a broker- Mary Meyer [13:28]: ... what's the process to do that for them? Dr Oz Konar [13:30]: We have a lot of free information. We want them to build some kinda awareness on what we do. Obviously they can listen to me here, but, uh, we have a YouTube channel, I have my Instagram. Our website has a lot of articles and posts. I want them to first understand the validity of my claim. Like businesses need funding. Is it really true? Like, and you look at some of the numbers and the trainings and also the results we get with ordinary people. Dr Oz Konar [13:51]: Ordinary but ambitious. Obviously if someone is like naturally lazy, don't wanna do the work, this is not like a get rich quick opportunity. We're looking for people who work hard anyways, uh, but maybe they might be on the wrong vehicle, right? So like transferring to that vehicle, and we have all the information, all the links to our organic channels, like if they wanna just consume content. Uh, and then they can schedule a call on our website to talk to our team so they can do like a demo of showing what, what it is that we do and decide if that's a good fit or not, you know? Mary Meyer [14:18]: Yeah. That, that's, that's fabulous. So what is, what is the investment for people who wanna... They're like, "Yeah, like get me started." Dr Oz Konar [14:27]: Uh, depe- depends on the level they're getting started and what they're trying to accomplish because we have people who just wanna refer and earn, meaning they're not really interested in learning the nitty-gritty of the alternative lending. Dr Oz Konar [14:37]: Uh- Mary Meyer [14:37]: Mm-hmm Dr Oz Konar [14:37]: ... for example, someone with influence, right? They have followers or, or they're, they're head of an association or they just know a lot of people. Dr Oz Konar [14:45]: Yeah. Dr Oz Konar [14:45]: They say, "Hey, I just wanna funnel people to you guys, and you guys do the work." That's different versus someone saying, "You know what? I wanna make a career change. I wanna come in and learn." That's... We call it the refer and earn, partner and earn, and broker and earn. Broker and earn is like the 360. Dr Oz Konar [15:00]: You bring the lead, you get in the underwriting, like y- we get, we give the offer back to you. You close it, you make the full commission, uh, versus someone who's the referral partner. These are usually professionals who do things. Dr Oz Konar [15:12]: I mean from the podcasts that I've done, some of the people sign up for that too. Like I come across people naturally, and I'm not super- Dr Oz Konar [15:17]: Yeah Dr Oz Konar [15:17]: ... interested in doing this as a career, but how do I channel some people, right? So depend- depending on the level of involvement, then we decide. Dr Oz Konar [15:24]: A- and also how much time they have. Uh, like we have people who have two jobs. We have singles mom- single moms with three kids and things like that. So we have those discussions to find out, well, based on if you have like an hour a day, it's gonna be challenging for you to do some of the things that we ask you to do. Dr Oz Konar [15:40]: But maybe you start at that tier. So we, we just, we help them understand what goes into it, so they decide a package that makes sense for them. Mary Meyer [15:48]: That's so great that you have those different ways to do that, so... And, uh, just getting the... And it, it spreads the word, um, out there, you know, farther to more people- Mary Meyer [16:00]: A lot Mary Meyer [16:00]: ... who need it, so. Dr Oz Konar [16:01]: Yeah. One question people usually ask me, like w- why not become like a big funding company? Why teach people? Well, when you look at the number of business loan brokers, we, we did this analysis. There's about 15,000 in the entire United States, and in our community we have 7,000 of them, uh, right? So in BLB. Dr Oz Konar [16:19]: So most of them, a good chunk of them, obviously 50, 60% came from our network, right? Dr Oz Konar [16:24]: So when you look at real estate, there's I think 3 million real estate agents, and last year about 3 million homes were sold. Dr Oz Konar [16:32]: Talk about saturation, right? Mary Meyer [16:34]: Yeah. Dr Oz Konar [16:34]: So simultaneously the dude Oz is not gonna dominate the alternative lending industry if, even if we become a funder. Dr Oz Konar [16:40]: But if you kinda just have an army of people who are out there learning the business, making money, 'cause we're barely scratching the surface, right? You're very, r- r- you're a savvy person too. Even you didn't know much about alternative lending, right? So you came fr- Mary Meyer [16:53]: No. Dr Oz Konar [16:53]: You did marketing. So that's, to us, it's like a massive opportunity for people to kinda go in and learn this. Dr Oz Konar [16:59]: But I bet you know some real estate agents or insurance people, you've come across them in the past, like there's no way you would not have, right? Mary Meyer [17:06]: Right. Dr Oz Konar [17:06]: So from your dealings. So that's why like it's not, we're not even close to the level of matching the demand. Dr Oz Konar [17:12]: That's why the community makes sense, so people go out there, learn the business, and we can fund in 50 states. Some of the deals can be international. Dr Oz Konar [17:20]: Um, so I think, I- although it's been like, what, eight years now, we're barely scratching the surface. There's a lot we could be doing, you know? Mary Meyer [17:27]: Yeah. That's, that's so great. I love that so much. So, um, tell me like the marketing angle that you take. Is that part of the training that you do, or do people just kind of like, um, come into your world and, um, you know, benefit from the marketing that you're doing? Because I would say like the marketing you're doing is a very great example of that funnel marketing- Mary Meyer [17:50]: ... um, where you, uh, you know, there's an email that goes out. You have someone call. Mary Meyer [17:55]: I know this 'cause I signed up when I was looking i- into, into your stuff. So people are gonna see you for a long time, you know, uh, once they express some interest. So, um, how does that work for anyone who, who joins? Dr Oz Konar [18:10]: When someone joins, we set them up with a coach. Uh, we meet them where they are as far as like level of, uh, savviness, right? So we have people who come from a marketing agency world. They just wanna run some ads similar to what we do and kill it, like because the cost per lead is like super low, 'cause basically money is the sexiest product you can sell, right? Dr Oz Konar [18:30]: So like we're looking for people who need money. Um- Mary Meyer [18:33]: Yeah Dr Oz Konar [18:33]: ... others who come from-Events background, like they're more like wanna be out and about and meeting people, chamber of commerce. So we design their marketing approach. It's not like one size fits all. Dr Oz Konar [18:44]: My background is marketing, like I told you before, so it makes sense- Mary Meyer [18:47]: Right Dr Oz Konar [18:47]: ... for me to do somewhat decent marketing because that's what I, I used to do for other companies, right? We also teach our members how we do what we do. Dr Oz Konar [18:56]: Uh, and we, we, we give them so many different ways of generating leads. And honestly, in this industry, it's one of the easiest industries to generate leads. If you go to like a chamber of commerce meeting, everyone in that room is a potential client because we even have like pre-revenue startup funding. Even if they don't have a business, if they have a business idea, we can provide funding, right? So when I tell my people, like, "If, if that's your thing..." I'm naturally an introverted person, I hate going to events, but when I first started out, I didn't know much about the whole marketing. Dr Oz Konar [19:23]: I, I was at the events, and it just, it was magical what it did. I did like three, four months of i- i- you know, going to different networking events. New York is across the border from me. I signed up so many referral partners, like who, people who didn't wanna truly understand alternative lending, but they kept saying, "I got people, dude. I, can I just send them over to you?" And then a few months into it, I didn't even have to go to events anymore. Dr Oz Konar [19:46]: Like the residual effect, the flywheel effect, that my phone was ringing, people are sending me text messages, "Hey man, I got Mary who's interested in funding. Can you call?" So like it can be relatively as simple as that, or you can do what we do, like retargeting, email marketing, video sales letters and things like that. So that's why we have an individual coach assigned to each person. So we wanna understand their background, what they wanna do. Dr Oz Konar [20:08]: Some people don't want their face all over the place like me, right? So like fortunately or unfortunately, you'll be seeing me for a while. Dr Oz Konar [20:16]: Good luck with that. But some people just don't want that for themselves, you know? Mary Meyer [20:21]: Yeah. Um, I just had... Well, actually this week I had a podcast come out, uh, that was, um, basically, Dan Rochon's his name, but he's like, I thought this was, it was remarkable 'cause I've done a lot of different types of sales- Dr Oz Konar [20:34]: Wow Mary Meyer [20:34]: ... from door-to-door sales to selling on a website- Dr Oz Konar [20:37]: Nice Mary Meyer [20:38]: ... to going and meeting people to, you know, phone calling. Just like there's a million different ways you can, you can, you can get out there. Mary Meyer [20:47]: So he said, and I, and you're kinda saying the same thing, but he's like, "Write down, you know, what everyone says you're good at on one sheet of paper, and then on another sheet of paper, write down every possible way you could, uh, market, from radio, television- Dr Oz Konar [21:01]: Yeah Mary Meyer [21:01]: ... advertising, to going to networking, to picking up the phone and calling, to going knocking on businesses, and then match them together. Mary Meyer [21:09]: And whatever is your personality that matches with this, that's your business model." Dr Oz Konar [21:14]: Wow. Mary Meyer [21:14]: And I- Dr Oz Konar [21:14]: That's impressive. Mary Meyer [21:16]: Isn't it? Dr Oz Konar [21:17]: Yeah. That's pretty cool, actually. Like, it s- totally simplifies it. Mary Meyer [21:20]: Doesn't it? Dr Oz Konar [21:21]: Yeah. Mary Meyer [21:22]: I always like- Dr Oz Konar [21:22]: 'Cause what I tell my students is like, let's take you, Mary, right? So when I talk to you, when we do a session, uh, one through 10, I'm trying to find the skills that you're at eight or nine already, right? It could be a great public speaking or like, like you said, phone sales. I'm like, all right, we're gonna lean on them, but maybe you don't do as well in, uh, one-on-one versus the group, right? Dr Oz Konar [21:45]: And that's at two. There's no point in me trying to get that two to eight because you have other stuff going for you. I can talk until I'm blue on the face, but if, if your skill set on that is very low, it's gonna just not only go over your head, but it's gonna start frustrating you because pushing you out of your comfort zone a little too much, right? Mary Meyer [22:02]: Right. Dr Oz Konar [22:02]: But you have a lot of other things going on for you. So it's the same thing as me talking to someone who doesn't even use Facebook and trying to teach them how to do Facebook ads. Like, the person does, is not even on the platform, right? That's like, that's like gonna be very difficult because that, the skill set is, is zero, uh, at that point. Mary Meyer [22:19]: Yeah. Dr Oz Konar [22:19]: But- Mary Meyer [22:20]: Yeah Dr Oz Konar [22:20]: ... they might know a bunch of people, and it maybe in their past life they did mortgages or they used to be the head of an association or they did door- door sales and things like that. We can be like, "All right. We don't want you to do telemarketing and cold calling, but let's look at your ZIP Code and find some strategic events for you to go through." Or we have people who are like, I call them the manager type. Dr Oz Konar [22:40]: They, they don't want their face anywhere. They don't wanna talk to people, right? They're not people person, but they do amazing job managing systems, more like technical, analytical people. Then we tell them, "Let's lead with the brand. Dr Oz Konar [22:52]: Maybe you hire like a virtual assistant or someone who can do the marketing. You kinda manage the system, the pipeline behind the scenes," right? Mary Meyer [22:59]: Yeah. Dr Oz Konar [22:59]: So when you do it that way, people do not get overwhelmed versus me saying, "You gotta be just like us. Just go out there and talk in front of the camera." That would scare the crap out of most people. Like, they don't, they don't wanna be in front of the camera. Like, that's not, not their- Mary Meyer [23:12]: Right Dr Oz Konar [23:12]: ... nor- What, what you and I do is not the norm, as you know. Like, most people don't do this. Mary Meyer [23:17]: No, they, and would, would not want to, and- Dr Oz Konar [23:20]: No Mary Meyer [23:20]: ... and, um, many sales managers look down on it. Dr Oz Konar [23:24]: Very true. Mary Meyer [23:25]: So yeah. I've done a lot of different type of sales. Uh, well, and part of it is 'cause, you know, the, I took a, about 14 years ago, I'm like, I want to do acting. So acting as a career- Dr Oz Konar [23:36]: Oh Mary Meyer [23:36]: ... means you have to have another career. Um, and so I've kind of- Dr Oz Konar [23:41]: That's so true. Mary Meyer [23:42]: Uh, yeah, so I've kind of put acting on a little bit of a hold. I still do a little bit. Mary Meyer [23:46]: It's, uh, you know, so you have to you build a base of another business. So I've been trying to do that, and I took different sales jobs and realized that so many managers are, um, they're like, "This is the one way to do it," and the training isn't very good, and they're very stuck in the one way we're gonna do this, and there's no other one. Mary Meyer [24:06]: So that is also another good reason to start your own business in my opinion. Dr Oz Konar [24:11]: Yes. Mary Meyer [24:12]: Or you gotta find someone who's really aligned with doing business the way you want to do business. So if they're aligned with you, the way you wanna do it, that might work. But I think starting your own business is, uh, and, and I'm doing several podcasts right now on start your own business. Dr Oz Konar [24:28]: Wow. Mary Meyer [24:29]: Move it forw- You know, how do you do it? 'Cause, uh, you know, in general, we haven't been, of course, trained on that- Dr Oz Konar [24:35]: No Mary Meyer [24:35]: ... in, in any kind of educational sense. So you're taught a skill, but you're not taught the business stuff around it. Mary Meyer [24:41]: So I think this, uh, the whole, the whole concept of let's, let's help each other and teach each other how to do the business side of it and start that.Um, as you know, we're on the verge of AI or, or what- whatever people might be worried about- Mary Meyer [24:57]: ... uh, with their income source, then that's, you know, let's lean into each other. Dr Oz Konar [25:02]: I think entrepreneurial is the, um- Mary Meyer [25:04]: Let's find our own, find our own funding, you know? Let's, um- Dr Oz Konar [25:05]: Yeah. Yeah Mary Meyer [25:06]: ... you know? Dr Oz Konar [25:07]: Get your own capital and, um, like all... The whole AI discussion, Mary, is interesting. Like, I know people usually fear things that they don't understand, right? So I don't think, besides maybe, like, 100 people, no one really knows what's gonna happen, right? Mary Meyer [25:22]: Yeah. Dr Oz Konar [25:22]: So, like, a couple of years from now, it's gonna change. Some- a few people probably know, but I'm certainly not one of them. So- Dr Oz Konar [25:28]: Yeah Dr Oz Konar [25:28]: ... given that knowledge gap, what do we do? The best thing you can do is stay close to it as much as possible instead of demonizing it or fearing from it. Like, find an angle. Like, what we're doing on our end, is we're using AI to streamline underwriting. We're, we created AI bots for our members to use as a learning opportunity. So I uploaded all my trainings into an AI, created, like, an Oz bot, basically, so they can chat as if they're talking to Oz. Dr Oz Konar [25:53]: So, like, you know, I, I tell all my people too, like, yeah, we don't... It could good, good, bad, or ugly, but don't forget that there's gonna, it's gonna create massive amount of opportunity, right? So you don't wanna be someone- Mary Meyer [26:04]: Absolutely Dr Oz Konar [26:04]: ... who's on the sidelines saying that, "Oh, yeah, it is scary. What if I lose my job?" Don't take that risk. Like, start your own thing and find an angle that you can get involved. I know it sounds kind of generic advice, do some AI. Dr Oz Konar [26:16]: No, but try to, even if you understand it at 2%, 3% level, it's way better than not knowing anything about it and then waiting for stuff to happen to you, right? Then when it happens, it is kind of late. Like, then you're gonna rush because the finances will start drying up, you don't have a job anymore, if, if you're in a job market. But it's far better to either find a company who's AI first or AI optimized if you don't wanna become an entrepreneur, or find an angle to learn the basics. Dr Oz Konar [26:41]: And I, I guarantee anyone, regardless of your background, age, you can learn. It's just being intentional. Mary Meyer [26:46]: Yeah. Dr Oz Konar [26:46]: But if you start with the mindset of, "It's too advanced for me. Oh, I can't learn it," that's, that's not helping you, right? We're going through a change- Mary Meyer [26:53]: Yeah Dr Oz Konar [26:53]: ... similar to how we went through a change when internet appeared, then the smartphones. I know this is a lot faster than that, a lot bigger than that. Dr Oz Konar [27:00]: When you don't know what it is gonna do, it's better to try to understand it, honestly. Mary Meyer [27:04]: Yeah. No, I agree. Sometimes I... And I use... You know, I think we all, to some degree, are using AI. Mary Meyer [27:10]: We just, it's an automation, right? Mary Meyer [27:12]: So, you know, we look up something on Google, it gives you Google AI. Dr Oz Konar [27:16]: Sure. Mary Meyer [27:16]: So we're all, we're all using it. Um, so it's, it's, it's very interesting from the different perspectives 'cause, like, this, the business side that I have, you know, uh, mostly entrepreneurial-type people, salespeople here in Reno that I know, they're so excited about AI. It's like- Dr Oz Konar [27:35]: Yeah Mary Meyer [27:35]: ... you know, the, the sunrise of civilization. And then you know, the c- the creatives with actors and stuff like that that, you know, they're saying, "Hey, the first thing we're gonna cut is c- the creative side," which is honestly ridiculous 'cause no one wants to watch a, um- Dr Oz Konar [27:52]: No Mary Meyer [27:52]: ... we all wanna see a real face. Dr Oz Konar [27:53]: Yeah. Mary Meyer [27:54]: We wanna hear a real human story. But, you know, there's, there's all that, um... And you know, we, we had, you know, strikes and stuff like that a few years ago too to go, like, "Let's not do this." But it has started, like, um, with voiceover. Mary Meyer [28:09]: It's, it's usually AI voiceover now versus that being as much of an industry. And I know writers have been hurt, so it's more... So, like, they're, they're f- they're very fearful to very excited, so. Dr Oz Konar [28:21]: Yeah. Mary Meyer [28:21]: Um, you know, it is, it is a real, it's just a change. And, and in my opinion, we're gonna just have to make sure, you know, with what's going on, that we're, we are dealing with people and businesses that we want to deal with. Mary Meyer [28:37]: So maybe not as much of the, the big, big s- stores and stuff that the money's going who knows where, but not to our neighborhood- Dr Oz Konar [28:47]: Yeah Mary Meyer [28:47]: ... not to people we know, not to another, you know, you know, n- not to another human where we know the human, so, um, but up the chain. So more local, more people we know, uh, more integrated kind of with, um, finding our network, so. Dr Oz Konar [29:08]: Yeah. And I think human to human... I mean, look at what happened during pandemic, right? Before the pandemic, everyone wanted to be home, and on their own, and things like that. And two weeks into it, people are craving to see each other. Uh- Mary Meyer [29:20]: Oh, yeah Dr Oz Konar [29:20]: ... like, you know, we're social animals at the end of the day, right? So we- Dr Oz Konar [29:23]: Right Dr Oz Konar [29:23]: ... that's just how we're designed and made, like it's in our DNA. Um- Mary Meyer [29:28]: Right Dr Oz Konar [29:29]: ... i- so I don't think that w- whatever you can do to stay connected to other humans, and, like, my take is augment AI into your life. So instead of worrying that, oh, human beings will not exist anymore, that's such a drastic, uh, uh, belief. Could it happen? Yeah, every species ends at some point, but you can't design your life based on that probability. Dr Oz Konar [29:50]: Because if we're not gonna exist, there's not much you can do anyways. We're all dead, right? But let's not go there. Mary Meyer [29:56]: Yeah. Dr Oz Konar [29:56]: But let's start with what we can control, right? So okay, so it is happening, then how do I stay on the side of the change, uh, versus just fighting against it or kind of completely giving up? That's not a good idea. Start a business, talk to other people, because people will need people. Dr Oz Konar [30:11]: And then I think- Mary Meyer [30:12]: Right Dr Oz Konar [30:12]: ... more we have AI, more people will need these authentic human conversations. They're gonna... Like, w- we have events. We're seeing a massive spike in our event attendance. You would think that, like, logically thinking, well, I mean, they can do all that stuff from AI. Dr Oz Konar [30:27]: They can talk to AI 24/7, but why is someone going out of their way, spending money, traveling, staying at a hotel, which is not the most comfortable experience, to talk to that other human being? So, like, that's just how we are wired. Dr Oz Konar [30:40]: And then if you're staying on that side and using AI to help you, I think we'll be okay, you know? Mary Meyer [30:45]: Right. Yeah. Yes, AI should be the assistant, and then human beings are the...We're the main event Dr Oz Konar [30:52]: That's, that's we are. That we're very unique. Yeah. Too unique sometimes. Mary Meyer [30:56]: Yeah. Yeah. I also really sometimes think it's overstated how, how effective it is. I mean, I, I don't know, like I, I tried... It took me three hours to make this simple little, um, I, I, I did Gemini. Mary Meyer [31:10]: Okay, Gemini's supposed to be the best, and I was, I was just playing around making a, a social media post. It took me three hours using AI. Dr Oz Konar [31:18]: Wow. Mary Meyer [31:18]: I'm like, like... And you put into Gemini, "Take, you're misspelling this word. Spell it this way." Forget it. Like, forget it. So like, I'm like, I'm going- I'm like, I'm going to Canva. Mary Meyer [31:32]: I mean, like I, you know, it's just... And it took... So I d- sometimes I'm like, I don't know, I actually need it to be a little bit smarter than it is actually for some of these things still, but at least what's available to us, you know? It's, it's- Dr Oz Konar [31:46]: Yeah. I think human adoption to technology is kind of slow in my opinion, right? Uh, like look, how long have the websites been around? Like, a really long time when you think about it, right? Mary Meyer [31:56]: Yeah. Dr Oz Konar [31:56]: How many businesses have amazing looking websites? Very few. Mary Meyer [32:00]: Very few. Dr Oz Konar [32:01]: Like, very few. I- is it because technology is not there? No. Far from it. Like, you c- you can build something, you can hire someone. There's like Fiverr. Dr Oz Konar [32:09]: Like, there's like so many places, or you probably know someone who can do it. Mary Meyer [32:13]: Yeah. Dr Oz Konar [32:13]: But just because it is there- Mary Meyer [32:14]: Or Mighty, 'cause they're, they're inexpensive too. They're out of India, you know? So that helps. Dr Oz Konar [32:18]: Yeah. Yeah. So that, that's me too, right? So there's just so many ways, and when you look at the small businesses, like when I look at somebody's website, it looks like Craigslist, and then you're like, "Hmm. Interesting." I think a similar thing will happen, the change will happen maybe for people who are in AI. Dr Oz Konar [32:36]: Like sometimes you hear Elon Musk, "Three years from now there's gonna be no surgeons," right? I'm like, all right, maybe technology will be there, but for the policy, the, you know, regulations to pass for an AI to operate on someone, and, uh, people allowing that to happen will be a lot further than that. Mary Meyer [32:53]: Right. Dr Oz Konar [32:53]: Maybe he's talking from the side of the development, like the capability of doing it, but I think for, uh, i- I don't think we have as little time as they make it look like for the change, right? I think that's- Mary Meyer [33:04]: Yeah Dr Oz Konar [33:04]: ... creating a lot of... I was reading an article how AI is perceived in US versus in China, right? I think US has a branding problem with AI. Dr Oz Konar [33:13]: They're just too much, using too much fear-mongering almost, right? Like, about AI. Dr Oz Konar [33:18]: A lot of people are like very scared. In China, the perception was like 70, 75% people, "Oh, this is gonna help me live better. It's gonna do this." Versus in the US, "Oh my God, my acting job is gonna go- be gone," or, "AI is gonna replace all the voice actors," and things like that. Could it? Yes. Dr Oz Konar [33:34]: But then there's also uniqueness, and things have a very delayed output in human, human experience, right? I think some people will still be trying to catch up to ChatGPT five years from now. Like, that's just how we usually operate in, in, in masses. Mary Meyer [33:48]: Yep. Right. Dr Oz Konar [33:49]: A very small percentage will knock it out of the water, but that's always the case, you know? Mary Meyer [33:54]: Yeah. Yeah. Well, and I, I, the, you know, f- the fear-based stuff is clickbait in, in the US. It just seems like that's all we've had and all we do. Dr Oz Konar [34:03]: It sounds like it, from news to AI stuff, right? It's always like- Mary Meyer [34:07]: Yeah Dr Oz Konar [34:07]: ... it's the end of it. Mary Meyer [34:09]: Yeah. Yeah. Well, that's very, very true. Mary Meyer [34:13]: So um, and I, I, part of the, what I do with marketing too, going back to the websites, is that the number one thing, like if you think you're going to like start doing any kind of advertising, uh, at all, like how are people... And it's, it goes down to if you wanna build a business, how do people find you? Mary Meyer [34:33]: And they're either gonna walk into your store, a physical location, or you're gonna have to have a website, some presence like that. So, and, and like you said, like if the, if the, if I go to your website and it doesn't look great, when it's maybe better than not having a website, so maybe you just, people are just making their own websites 'cause they think they can, you know... Mary Meyer [34:54]: And they can, but then it's trying to like, okay, how are people gonna find you? Like, there's all these different things with Google and Bing and whatever. Like, is, they're, they're looking, their bots are looking to see if your interface is interactive. Dr Oz Konar [35:09]: Mm-hmm. Mary Meyer [35:09]: They're looking to see if you're updating the website. They're looking for your privacy statement. They're looking for back links, internal links, you know, back links outside. They're looking at all this stuff, and if you don't have those things on your website, um, then you're not gonna, people aren't gonna find you when they go searching, you know, for something. So that's, I don't... Mary Meyer [35:29]: Maybe people don't know that either. But, um, I, I will just, I have, I have said to many people, "You're not ready to do marketing." Dr Oz Konar [35:37]: Yeah. Mary Meyer [35:37]: I, I will make money on marketing you, but you can't... You're not ready. You're not ready. Um, you must go fix this first. Dr Oz Konar [35:46]: Yes. Mary Meyer [35:47]: Um- Dr Oz Konar [35:47]: Yeah. Marketing gets the eyeballs. Sales turns eyeballs into money, right? Mary Meyer [35:51]: Yeah. Dr Oz Konar [35:51]: So like when you get the eyeballs, you kinda wanna look pretty. Like, because the- Mary Meyer [35:56]: So pretty Dr Oz Konar [35:56]: ... that's just what it comes down to, honestly, right? Mary Meyer [35:58]: Yeah. Dr Oz Konar [35:58]: So you, everyone is so focused on, "I gotta get traffic." Yes, but when you get the traffic, what do you look like? Like, the, maybe fixing that first is a good first step, you know? Like if the- Mary Meyer [36:10]: Yeah Dr Oz Konar [36:10]: ... the traffic might not convert into sales as much as you thought it would if the look is not that attractive, you know? Mary Meyer [36:17]: Yeah, for sure. Yeah, for sure. Okay, so going back to what you, you do, so do you feel like there's a point where the money's gonna like kinda dry up, or is there just gonna be plenty of money coming back into the system for small business owners? Like, how, how is that looking? Dr Oz Konar [36:33]: Well, I look at the investments in the alternative lending industry. We have more lenders, uh, being formed than ever before. I think the belief is that banks will kinda keep failing people and disappointing it. And we're, when I first started, which is not that long ago, like 10 years ago, in the grander scheme of things it's a very short amount of time, people had difficulty even believing in alternative lending industry being real. Dr Oz Konar [36:58]: Now we're at a point that-When they look at it, they're trying to find the, a better funding option in the alternative lending industry, right? Um, so I think that trend will continue. Uh, we can't, I can't foresee beyond five years, honestly. A lot is changing. But for the next five years there's gonna be like a massive demand, um, um, especially where you live, right? Dr Oz Konar [37:19]: You probably see a lot of AI first companies, like entrepreneurial people. And in this year so far we see, oh my God, a drastic increase in number of new businesses, and new business means new money being needed, new equipment, new software, new employees and things like that, right? So we're gonna see that drastic effect of people utilizing AI or related products to add to their business or fix their existing business- Dr Oz Konar [37:44]: ... or start new businesses. Um, and that's gonna add to the economy quite a bit. Like, obviously some will succeed, some will fail, but on the... From my perspective, that creates a lot of opportunity. And the other thing, we experienced this during the pandemic, the busiest time we ever got at BLB was during the pandemic, believe it or not. And the reason why is, yes, people got money from the government and whatnot, but people finally noticed that the jobs that they deemed secure was not really secure. Dr Oz Konar [38:14]: They were like, just like that, they were out, and some of them didn't make it back, right? That fear n- finally it was like a wake-up call. Oh, shoot, this, this happened. Now I gotta fix it. We see like a spike of new businesses being formed immediately during that time. I think we're on the verge of something similar, like it's g- gonna take off. It is already been kinda following, you know, regardless of what's happening, like the politics, the wars and all that stuff- Mary Meyer [38:40]: Yeah Dr Oz Konar [38:40]: ... we're seeing like an awakening of this entrepreneurial spirit more and more. That definitely helps more lenders, helps us as business loan brokers, and help people get access to more capital. 'Cause if there's more demand, the alternative financing industry will get more creative to provide funding, because that just helps everyone. Mary Meyer [38:58]: Yeah. Well, and at the end of the day there's all this stuff going on in the world, but you have to pay your bills and you have to eat. Dr Oz Konar [39:03]: Yeah. Mary Meyer [39:03]: So, like, how to, you know, like, plant a garden if you can. Mary Meyer [39:09]: Grow some stuff if you can. Like, why not? Dr Oz Konar [39:11]: Why not? Mary Meyer [39:11]: Uh, 'cause our, what we're being fed is awful, too. So, like, you know, just like I think about that, I'm like, oh, uh, I have some land, I wish it was closer, I'd be, be, uh, planting all kinds of stuff. But, but yeah, I was one of the people that started a business in 2020, and you know, it was because, of course, I was in acting. Acting is shut down. Mary Meyer [39:31]: You can't do big group stuff. Dr Oz Konar [39:33]: Oh, man. Yeah. Mary Meyer [39:34]: That's completely shut down. And then also in the acting community you gotta have, um... So many people were, some of them do real estate, some of them run classes. Mary Meyer [39:44]: A lot of them are in the restaurant industry because it has to be a flexible to go do- Dr Oz Konar [39:48]: Oh Mary Meyer [39:49]: ... you know, than the work. Everything is shut down, right? So I got my, um, my, uh, uh, real estate license December 2019. Mary Meyer [39:59]: I got into a good agency December 2019. Dr Oz Konar [40:01]: Nice. Mary Meyer [40:03]: Onboarded for a couple months and then it's COVID and everything's shut down. So that's when I started an online store, 'cause like what are you gonna do? Like everyone's, everyone, you gotta do something, right? Dr Oz Konar [40:12]: You gotta do something. Mary Meyer [40:12]: You gotta do something. Dr Oz Konar [40:13]: Yeah. Mary Meyer [40:14]: To move forward you gotta do something. Um, so that's an, that's an, that's a unique situation obviously, and most people aren't finding themselves in that. But AI can help you start a business. Like the, the automations are there enough now and, um, I, I have a, I just had someone on who's a lawyer who s- was talking about how to start an LLC and, and different ways to protect your money as you move forward, and then had someone on, uh, talking about sales and how you do that, and I've had an- another one coming on, uh, who's talking about managing the, the different, more the checkbook type stuff- Dr Oz Konar [40:51]: Mm Mary Meyer [40:52]: ... and how to, how to get the money set aside and do that right. And then another one coming on going, "Yeah, go ahead and buy into a franchise." "And I'm gonna teach you how to go from operator to owner and do all this stuff," and then having you on, too. So we're having some really good conversations around, you know, go ahead and, and start something and keep your, keep your job or have another way eventually- Oz Konar [41:16]: Absolutely Mary Meyer [41:16]: ... if you need that. Oz Konar [41:17]: Yeah. Mary Meyer [41:17]: And then- Oz Konar [41:17]: Don't burn your ships initially, because entrepreneurship takes some- Mary Meyer [41:22]: It's tough Oz Konar [41:22]: ... trial and error, especially- Mary Meyer [41:23]: Yeah Oz Konar [41:23]: ... if you don't get proper coaching. Like all my life I al- Oz Konar [41:26]: Right Oz Konar [41:26]: ... I always paid for coaching, 'cause I, I don't think we have long enough lifespan to figure stuff out on our own through trial and error, and things change a lot. Mary Meyer [41:35]: Right. Oz Konar [41:35]: It is always better to learn from someone who's ahead of you in that specific realm, uh- Mary Meyer [41:40]: Mm-hmm Oz Konar [41:40]: ... than you saying, "I'm just gonna all figure it out." I know a lot of entrepreneurs are super self-confident people, but there's a place for confidence. Oz Konar [41:47]: Uh, there's a, there's a place for like ego getting in the way. Sometimes people get in, in their own way, thinking that they know everything, but entrepreneurialship will kinda rub away face, y- your face in the mud, if, if you look at that way, right? Because it's different, probably different than what you've done before. Oz Konar [42:02]: It's just finding that happy medium. That's why I never tell people, "Oh, yeah, you can just quit what you're doing and do this 100%." No, it's okay. What you're doing is probably is not horrible as you think it is. All you have to do is just create an option for yourself. You have an exit. Oz Konar [42:14]: Most people don't even have an exit, unless they get fired, you know? Then... Or, or like COVID happens, like in acting, right? Then you're like- Mary Meyer [42:20]: Yeah Oz Konar [42:20]: ... "All right, we're doomed." Uh, but human beings, we survived through the freaking Ice Age, you know? Like they it can get really, really bad. Mary Meyer [42:27]: Yeah. So become, we become just stronger and, uh, mentally stronger, physically stronger- Mary Meyer [42:35]: ... just financially stronger, w- all the different whatever we gotta do, and, uh, keep moving forward. So yeah, I'm telling you, I made all the mistakes I feel like, so, uh, I'm, I am, I am not here telling people I know everything. Mary Meyer [42:49]: I just, you learn a lot of wisdom from making mistakes, too. Oz Konar [42:52]: Sure. Mary Meyer [42:52]: You know what I mean? Oz Konar [42:53]: But you wanna limit them to a point that it's not catastrophic, right? I make mistakes all day long, but at least if you surround yourself with people who can catch it, 'cause- Oz Konar [43:02]: ... mistakes are fine, but honestly it's, uh-Not everything that doesn't kill you makes you stronger. Oz Konar [43:09]: Some things that doesn't kill you make, c- can make you paralyzed and you can't do stuff anymore, right? Mary Meyer [43:13]: Oh, yeah. Oz Konar [43:13]: So that all- Mary Meyer [43:15]: Oh, yeah Oz Konar [43:15]: ... you gotta be careful the size of the mistake that you make. Uh, like mistakes, y- y- no matter what y- what kind of coaching you get, you're gonna make mistakes. Oz Konar [43:22]: But some mistakes can push you back 10, 15 years. So that's, that's the part I'm concerned about, like, with people, right? Mary Meyer [43:28]: For sure. Oz Konar [43:28]: So no one can guarantee that, oh, it's gonna be a, a rose garden and everything's gonna go well. Oz Konar [43:33]: Yeah, but it's one thing to be delayed for a few months because of a hiccup versus be completely wiped out financially and starting from scratch at a time like this when things are changing. Those are the ones I'm like, "All right. Not every mistake makes you stronger, buddy. Like, calm down and let's get a plan," you know? Mary Meyer [43:49]: Yeah. No, I'm, I'm such a big proponent of that. And you know what, so many of these things that I've done or tried to do, some things like real estate you'll have people guiding you, 'cause there's lots of that. And, uh, acting, actually, there's a l- lot of support and learning too. Mary Meyer [44:03]: But, um, an online store, not so much. No idea. Mary Meyer [44:10]: And no one, no one I, you know, and I'm, I'm, you know... It's not like I come from a line of people who are trying to really do any of these things either, so. Oz Konar [44:18]: Yeah. Mary Meyer [44:18]: You do have to go out and find support and, you know, podcasts or watch your YouTube channel or just, you know, start- Oz Konar [44:25]: Experts in a specific niche area Mary Meyer [44:27]: ... start, yeah Oz Konar [44:28]: Yeah. Mary Meyer [44:28]: Start diving in- Mary Meyer [44:29]: Yeah Mary Meyer [44:29]: ... to different things like that. I, it's such a, so much wisdom in that. Get in a circle of people. And, uh, I've, I have found a lot of that in Reno, which I'm, I'm glad, this circle of entrepreneurs, so that's really good. Uh, I have another question for you. So if someone is like, "I have money, and I don't know that I want to have it all in the stock market right now," or something like, like, like, "I, I wanna in, take some of the money that I have and invest it in a different way," are you someone that they can contact to go, how can I be part of the lending side of this? Mary Meyer [45:02]: Is that something else they can do, or how would they do that? Oz Konar [45:06]: Um, yes and no. So we have people who started out as business loan brokers, now they've become funders. Oz Konar [45:12]: But we don't really want outside... There's no shortage of money in alternative lending industry. All these hedge funds and banks, they have the money, right? So it's not like they need outside capital. Oz Konar [45:20]: And then we also don't wanna get involved with other people's money who don't understand our business, right? Because their risk factors are different and things like that. Oz Konar [45:29]: 'Cause when you look at stock market, crypto, and there are a lot of experts on it, so you can... There's a lot of historical data. Oz Konar [45:35]: You can study that. Our industry, there's a lot of historical data, but we're, uh, we're, i- it's, it's very different than how you analyze a, a, a stock ticker, right? So we only allow that to happen if someone is, has been doing this for a while, they understand the underwriting aspect and all that. 'Cause we get all these requests like, "Well, what if I throw some money at this and you guys give me a return?" We're like, "No, we can't, we can't deal with this because you don't know anything about this industry." And then you're, uh, it's, it's gonna strain the relationship because you just, you just heard about this. Oz Konar [46:07]: You, uh, eh, I, I invest a lot of my money into alternative lending industry, but I have 10 years of experience, so I know the risk that I'm taking, right? So it started out as like a, like I told you, the salesperson, the marketer, the coach, and then investor into this. Like, a lot of my money is, we're funding small businesses in US. Oz Konar [46:24]: Like last year- Mary Meyer [46:25]: Yeah Oz Konar [46:25]: ... I think we funded, like, 600 businesses. But I can confidently say that I know what the heck I'm doing, like, 'cause I've been on all parts of the funding game, right? Someone coming from outside, I know maybe there are companies who promote it, but I'm very cautious when it comes to it. Because there are a lot of people with money, and they, they wanna throw it at us. We're like, first of all, we don't need it. Second of all, y- y- you not knowing what you don't know is gonna be a problem. Oz Konar [46:47]: We don't wanna be in a situation a year from now that someone is freaking out because they don't understand how this game is played, 'cause some of our fundings are only for three to six months. Some of them are two years, some of them are 10 years, and there's a lot of complexity. Oz Konar [47:00]: And we don't want business loan brokers to focus on it. We want them to focus on making money, funding deals. Oz Konar [47:05]: But a few percentage of them will wanna understand that part. We usually do, like, events to show them, like, the backend of how this machine is working. And then then we have members, probably a h- you know, a dozen members who put their money into it. For example, someone comes in making 5K a month, now they're making 50K a month, but they've been in our network for three years. Oz Konar [47:23]: And the amount they need to keep their standard of living could be, let's say, 15K, right? They usually tell us, "I have... Oz Konar [47:30]: I'm accumulating, like, 30K plus per month. Do I go buy a house or what?" I'm like, "You can go buy a house, obviously. I'm not an expert on that. Oz Konar [47:38]: But you made that money in this industry. It kinda makes sense, and to invest i- it makes sense investing into what you know." And then, you know, become a, slowly become, like, a partial lender. We call it, like, partial syndication partner. Then full syndication and turn into a lender. Oz Konar [47:52]: So we follow a path for people to go through that. Does that... I know that, that was, like, a very broad answer to your question, but does, does that make sense? Mary Meyer [47:58]: No, that's actually a very good answer. So what I'm hearing is get involved in the industry and figure out- Oz Konar [48:03]: First Mary Meyer [48:03]: ... if you wanna- Oz Konar [48:04]: Yes Mary Meyer [48:04]: ... first, and then figure out if that's the place to put your money. Otherwise, don't, no. Oz Konar [48:08]: Don't, don't... Yeah, because you don't know what you don't know. Whether you get involved with us or do it on your own, I'm not saying this to, for you to join BLB, but a- at least look into the industry and do a lot of research. Some people, we have a, like, one of the partners who do syndication, uh, she came in as a student. She found the big deals, and she's literally a, an official economist, right? That's her background. And she crunched the numbers. She's like, "All right. Oz Konar [48:29]: I, I'm ready to do this now." And what she wa- and she attended, like, two of live events. She seen, she asked the right questions. Someone like that came in and blew her out of water, and now she doesn't even do brokerage. She's just doing the investment part of the things, right? There is money to be made there, but I'm always cautious making that kind of recommendations, making it sound like, "Oh, Mary, you have money? Throw it in. We got you." Mary Meyer [48:50]: Yeah. Oz Konar [48:50]: That's not what we're about. Mary Meyer [48:52]: Yeah, that makes sense. That makes sense. Oz, this is really, really good information. Mary Meyer [48:57]: Thank you so much for sharing it. What, what else should people know? Oz Konar [49:01]: Um, I, I guess at the bare minimum, understand, uh, I, I, I hope people fix their relationship with money, right? For example, if you follow someone like Dave Ramsey, like cut your credit cards, bad is debt. Know that it's not bad advice, but if you call yourself entrepreneurial, it's not really designed for you, right? Entrepreneurs are people who take risks, and without money your chance of suc- suc- success is very low. Oz Konar [49:27]: So I'm a big supporter of financial literacy, right? We- be careful who you get your advice from. If you have a, if you have an employee mindset, if Dave Ramsey is saying, "Save money, make the payments, don't have any debt," it makes sense for that segment of the market. I never think that he's a, he's a bad guy. But if you're trying to be an entrepreneurial and following the wrong people, then you're kinda programming yourself for not taking any risks. Oz Konar [49:50]: Just have an open mind to understand how lending money works. Like, and whether you become a business loan broker or not is not the thing. 'Cause in my past, like, my family filed for bankruptcy because my father, although he was an amazing butcher, like he was a skilled artist, his business failed because he didn't understand credit. He didn't understand money, right? Just because you're good at something doesn't mean you understand the money game- Mary Meyer [50:10]: Right Oz Konar [50:10]: ... which is a big part of our life. So whoever's listening, maybe you're saying, "Obviously, Oz, I know that." But I can't tell you how many people don't even understand that part. Like, how do businesses get money? Even if you look at big businesses, a lot of them start with debt, and they have a great idea. Oz Konar [50:25]: They build off of that. You can't wait for the perfect moment. You can't s- kinda save your way up to getting rich i, in a way, right? So you gotta- Mary Meyer [50:33]: Right Oz Konar [50:33]: ... take some action. Just be very careful who you follow. If you're an entrepreneurial p- follow some entrepreneurs, not other people. Like, I see a lot of confused people, like, trying to say... I'm like, "Dude, you're making 50K a year. Oz Konar [50:45]: How much can you potentially save to improve your life?" Like, yeah, cut down on your Starbucks or your Netflix, but at the end of the day, even if you eat nothing, you will have saved 50K and be dead. Uh, versus- Versus you can figure out a way to make additional 50K so you can still buy your Starbucks, right? Oz Konar [51:07]: That, that's my approach. Sorry, I didn't mean to go dark on you. Mary Meyer [51:14]: Oh, that's so funny. That's just... I love that so much. Oh, yeah. Well, and I had someone on the podcast, Al Zenik, and they, they're doing a ca- Cake Club app. They're, they started a new app. But he was saying the same thing, cash flow, cash flow. So it's like I love it when, when, uh, guests say exactly the same thing 'cause it's like, okay, we're onto something. Mary Meyer [51:34]: Um, you know? U- use debt wisely to build and, um, it's... Mary Meyer [51:40]: Versus Dave Ramsey is, uh, was, lived in the same town where I raised my kids, so in Franklin, Tennessee. So that, you know, I, you know, I've heard him speak live and all kinds of stuff, and it is pretty restrictive what he... Some of the things. It's not a bad, you know, mindset to just- Oz Konar [51:56]: Yeah Mary Meyer [51:56]: ... not, you know, don't just accumulate debt and debt and debt and just spend and spend and spend. So have some idea what you're s- you know, you're spending. But I love that you're saying the same thing ... Al said, which is, uh, cash flow is actually what you're, you're going for. Mary Meyer [52:12]: So you might, you might have... You gonna need some money. You're gonna need some, some debt, right? Oz Konar [52:18]: Yes. Mary Meyer [52:18]: You're gonna need a loan. You're gonna need something to, to do that. So you gotta look at the different things and, and it's, it's a man- it's more of a management of money. Oz Konar [52:28]: It is. Or, or like being resourceful. Like, if you lack something, let's say you're not making enough money and you're in debt every single month. Like, month is longer than your paycheck and you're like minus 1,000. Mary Meyer [52:38]: Yeah. Oz Konar [52:38]: Instead of looking at this saying, "I gotta save on our coffee," look for a way to make additional $1,000 on the side, right? So I'm... Uh, that, that mindset shift is usually all there is to it. I'm not saying, like, set a goal to become a millionaire, but look at your finance and be like, "Shoot, okay, I, I, I wanna live at this standard reasonably, but I don't make enough money." You have two options. Oz Konar [53:00]: Go get a better job if that's, your boss is not being fair, right, if that's the case. Mary Meyer [53:05]: Mm-hmm. Oz Konar [53:05]: Or figure out something on the side to make additional 1,000, 2,000 so that fear of non-existence doesn't hit you. Because lack of money creates that fear, like people usually experience when they're about to die, right? Oh my God, oh my God, oh my God, the panic. When you're in a panic mode, you don't really make the best decisions for yourself. Mary Meyer [53:22]: Yeah. Oz Konar [53:22]: That's what I'm trying to say by when I say financial literacy. I'm not trying to turn the entire universe into becoming a business loan broker. More like, "Hey, what is the issue? Oz Konar [53:30]: Let's just change our frame of thinking to be res- more resourceful." Like, how do I add 2K, 3K per month? That's gonna give you some breathing room. Oz Konar [53:39]: Then if you manage to pull 3K per month, I bet you you can raise that to, like, 10K per month because you accomplished something. Oz Konar [53:45]: You fixed your own problem. Then you can decide I wanna make 15K, 20K, but we need that stepping stones. Oz Konar [53:51]: We, we don't want someone to say, "I'm making X amount, I wanna be a millionaire." That gap is big, right? Mary Meyer [53:56]: Mm-hmm. Oz Konar [53:56]: But you st- start the gap a little s- slow and stack it up, and you'll get there, right? The a- average time for someone to become a millionaire is six years, like, from start. That's a long time, and people usually quit on month three. Oz Konar [54:08]: You know why? It's, i- i- th- that's, that's the issue, because they set the goal far too out there, even their subconscious mind says, "That's BS, Mary. We're not gonna get there," right? So you have to sell it to yourself and start small and stack those little wins, then it's gonna catapult into bigger wins so your normal will change. Oz making 5K versus Oz making 25K w- per month will be different person with different skill set, but it takes time to get there, and it's okay, you know? Mary Meyer [54:36]: Yeah. Yeah, for sure. That's such good advice. That's just such good life advice too, and such good entrepreneurial advice. Oz Konar [54:44]: Thank you. Mary Meyer [54:44]: You know? Yeah. Love that so much. Okay. So, um, find you on businesslendingblueprint.com. And then there, you have, um, the YouTube channel. Is it the same name? What's that? Oz Konar [54:58]: Uh, we, we direct people to YouTube channel from our website. So web- Mary Meyer [55:01]: Oh, okay Oz Konar [55:01]: ... YouTube channel's under my name, Oz Konar. But we have, like-550 videos there, more content than people want. Oz Konar [55:07]: So you can go through, see similar people to your life story, like how they progressed. Most of it is like me interviewing our actual students and their life story and why they made the switch. I think that's gonna give people a lot of inspiration on what's possible, you know? Mary Meyer [55:21]: Yeah, for sure. Uh, any, any parting words for everyone? Oz Konar [55:25]: No, you asked the last one and it took me 10 minutes to explain, so you better be cautious there. Mary Meyer [55:29]: I know, I... I know. Well, that was so good. I'm like, "Wait, maybe there's more," you know? Oz Konar [55:34]: There's always more, but yeah- Mary Meyer [55:36]: There's always more Oz Konar [55:36]: ... I think that's, I don't wanna pollute the messaging. Like, just, you know, uh, y- clearly define what entrepreneurialship is. Like, if you're watching Shark Tank, you might think that you need this big hit, uh, but it's usually not that. Like, starting small, like taking some kind of action, uh, a- and kind of facing the fear because the, there are two types of fear, right? Fear of losing or fear of starting something, and that fear of not knowing what you don't know. Oz Konar [56:01]: I rather feel that, have that fear than saying, "I'm not prepared," and, "Oh, my God, I'm losing grip," type of thing, right? So we're gonna have to push ourselves out of our comfort zone either way. Oz Konar [56:11]: Just kinda initially choose your pain. That's what I'm... I'm trying to be as realistic as possible, right? It's not gonna be, like, immediate rose garden, but if you stay where you are, you're gonna experience some level of pain. It's better to kinda face it head-on with whate- whatever you have, right? So even if you have, like, five hours a week, I know everyone is busy, try to do something with that entrepreneurial, uh, and figure that out. Oz Konar [56:33]: We have a lot of people who, who can only spend, like, one hour a day, right? We still customize a plan for them because my goal is to make sure that we create that awakening on financial literacy. I have options. I can create options. Oz Konar [56:45]: And some people take it and run with it and build a seven-figure business. Others save their financial future, pay off debt, leave something for their kids, and things like that. I don't know what it is for you, uh, but I think that level of thinking is far better than just staying in scarcity mode and just fearing of what could happen. Mary Meyer [57:03]: Yeah, for sure. For sure. Oz, thank you so much. I appreciate you. And, um, thanks for coming on and, uh, enjoy the rest of your day. Oz Konar [57:12]: Thanks so much, Mary. Thanks for having me. Appreciate it.