Latest / Two Ts In A Pod with Teddi Mellencamp and Tamra Judge / Bitch Better Have My Money

Transcript

Bitch Better Have My Money · Two Ts In A Pod with Teddi Mellencamp and Tamra Judge

0:02
Speaker 1: This is Teddy tea pod with and Cab. Hi. Guys,
0:12
Speaker 1: welcome to this week's Teddy teapod. I've been missing you
0:15
Speaker 1: even though it's only been a week. I am super
0:17
Speaker 1: excited to jump into this topic today. I am here
0:20
Speaker 1: with a great friend of mine who I met in
0:22
Speaker 1: Mommy and Me. Her name is Donna Bowling. She is incredible. Um,
0:27
Speaker 1: we're gonna dig into what so many of us have
0:31
Speaker 1: been struggling with recently, which is stressing over the pandemics
0:35
Speaker 1: effect on businesses and finances. Donna, can you tell the
0:38
Speaker 1: listeners a little bit about what you do? Yes? Hi,
0:42
Speaker 1: Teddy h. It's so good to see you and talk
0:45
Speaker 1: to you. Um. So, I am actually a business coach
0:48
Speaker 1: for female entrepreneurs, mostly in like the online space. And
0:53
Speaker 1: it's actually amazing because I started doing this before the pandemic,
0:56
Speaker 1: which is funny because now really every one needs to
1:00
Speaker 1: pivot and create an online business. But um, this was
1:03
Speaker 1: kind of a pivot for myself since I used to
1:06
Speaker 1: be in casting. I was a casting director for about
1:08
Speaker 1: fifteen years here in l A. And then um a
1:11
Speaker 1: talent agent for kids and worked with kids as an
1:15
Speaker 1: acting coach. And then this is how I created my business,
1:18
Speaker 1: people started asking me how I did it from home,
1:21
Speaker 1: and um I started coaching people on it. So now
1:23
Speaker 1: I really that's my jam. I help women start and
1:27
Speaker 1: develop and grow their businesses from their homes basically, And
1:31
Speaker 1: you guys, I I am. I have watched Donna's growth
1:35
Speaker 1: throughout and watched her pivot and it's really been incredible.
1:38
Speaker 1: And I think the same thing goes for with all
1:41
Speaker 1: in and and myself is that the biggest key to
1:46
Speaker 1: growing your business and to pivoting into making the shifts
1:50
Speaker 1: by showing up and being authentic to who you are,
1:53
Speaker 1: hud Because no matter what you're doing, if you don't
1:56
Speaker 1: believe in it, if you're not being honest, if you're
1:59
Speaker 1: not who you are, people are not going to trust
2:02
Speaker 1: you and they're not going to want to be in
2:03
Speaker 1: business with you. Wouldn't you say? I mean, authenticity is
2:07
Speaker 1: probably the most important thing that I teach in terms
2:10
Speaker 1: of showing up on stories. The truth is like when
2:12
Speaker 1: we're talking about online businesses, it's really about your personality
2:16
Speaker 1: on social media and on Instagram. It's less about your
2:19
Speaker 1: website and making sure kind of the old school version
2:23
Speaker 1: of business is set up. It's who you are. People
2:26
Speaker 1: are not buying where you're offering. They're buying from you
2:29
Speaker 1: as a person, and you know they're like, just like
2:32
Speaker 1: what you offer, Teddy. There's probably a lot of different
2:34
Speaker 1: kinds of weight you know, loss or exercise methods, but
2:37
Speaker 1: the reason people come to all In is because they
2:39
Speaker 1: fall in love with you as a person. You show
2:41
Speaker 1: up every day for your people, and that's the goal,
2:43
Speaker 1: is just showing up consistently and um building no like
2:48
Speaker 1: and trust, no K and O W no. I agree,
2:52
Speaker 1: And I think also something that I did at the
2:54
Speaker 1: beginning of this pandemic. So if you are in a
2:57
Speaker 1: place where your business is things are still going well,
3:02
Speaker 1: but you're realizing that morale is shifting, because that's definitely
3:05
Speaker 1: going to happen right now, especially for those of us
3:07
Speaker 1: who have kids, and then we find out that the
3:09
Speaker 1: school is not happening, like just so many changes. What
3:12
Speaker 1: I ended up doing was I gave every single one
3:14
Speaker 1: of my coaches a bonus right at the beginning, and
3:18
Speaker 1: I just said, this is to say thank you. This
3:20
Speaker 1: is just because I care about you guys, and I
3:23
Speaker 1: don't know what the future holds. I'm scared too. I
3:26
Speaker 1: don't know what this means for our business. But while
3:28
Speaker 1: I can do this, I am giving all of you
3:31
Speaker 1: a bonus and honestly, please keep it for you do
3:34
Speaker 1: something you normally wouldn't do for yourself. Take this moment
3:37
Speaker 1: and feel pride that you're you're giving back to the
3:40
Speaker 1: people that you're working with, because truthfully, we were all
3:43
Speaker 1: in such a place of like feeling stuck, and that's
3:46
Speaker 1: what you work with so many people on Donna. So
3:49
Speaker 1: I have a question for you. What would be your
3:52
Speaker 1: biggest tip for somebody who's in a place right now
3:54
Speaker 1: where they're feeling really stuck when it comes to business,
3:56
Speaker 1: whether it's stuck in a job or stuck on what's
3:59
Speaker 1: what to do now next? Totally? Um Well, first of all,
4:02
Speaker 1: I just want to say that as a leader for
4:04
Speaker 1: your team, that is so incredible because most people during
4:07
Speaker 1: this pandemic, they just immediately pulled back right like they said,
4:10
Speaker 1: like I'm sorry, I'm gonna have to cut your hours,
4:12
Speaker 1: I'm gonna have to cut your paycheck, I'm gonna have
4:13
Speaker 1: to cut cut cut And as a leader, the fact
4:16
Speaker 1: that you showed up and gave and like poured into
4:19
Speaker 1: them set the tone probably for so many of them
4:22
Speaker 1: so first of all, like that's amazing. Um, I would say,
4:25
Speaker 1: if someone is feeling stuck right now at number one,
4:28
Speaker 1: give yourself a little bit of a break, Like this
4:30
Speaker 1: is a crazy time, and I feel like it's a
4:34
Speaker 1: habit of ours. You know, you're kind of like me, Teddy,
4:36
Speaker 1: Like we get up and go and we just move
4:38
Speaker 1: forward and move through. But so many people it's something
4:41
Speaker 1: that they have to develop and learn. So I would
4:43
Speaker 1: say be easy on yourself and small goals, small actionable goals,
4:47
Speaker 1: rather than say like, Okay, today I'm going to completely
4:51
Speaker 1: cut out sugar and lose twenty pounds, or today I'm
4:54
Speaker 1: gonna start a website, a book and a podcast. Like
4:57
Speaker 1: that's too big. So if you just say, you know,
5:00
Speaker 1: today I think I'm gonna go in a ten minute walk,
5:02
Speaker 1: or today I'm going to just create the Instagram account.
5:05
Speaker 1: I call it a brain dump. So I put it
5:07
Speaker 1: all on a piece of paper, and then you break
5:09
Speaker 1: it down really into actionable steps, smaller and smaller steps
5:12
Speaker 1: that you can actually get done today. And then the
5:15
Speaker 1: more you get done, the more you feel less like
5:17
Speaker 1: I'm stuck, right because you feel proud of yourself, and
5:20
Speaker 1: then you start believing in yourself. And also I think
5:23
Speaker 1: oftentimes I know, for a long time I was stuck
5:26
Speaker 1: because I was I was scared to make a mistake.
5:30
Speaker 1: Oh God, And then I realized, Wow, we all make mistakes,
5:34
Speaker 1: and that's part of growing, and that's part of learning,
5:37
Speaker 1: and it's the only way you're going to grow a
5:38
Speaker 1: business is by making mistakes and learning from them and
5:41
Speaker 1: not being so set in the ways that you can't
5:44
Speaker 1: act like I've reached out and ask you questions before.
5:46
Speaker 1: The same for me, I think it's knowing people that
5:50
Speaker 1: are going to lift you up and want the best
5:52
Speaker 1: for you, and ask them they're all the times I
5:55
Speaker 1: don't know how to You know, when I first started,
5:56
Speaker 1: I didn't know how to scale, nor did I even
5:58
Speaker 1: want to scale because the fear of making a mistake. Yeah. Yeah,
6:02
Speaker 1: I think so many people are so scared for two things.
6:04
Speaker 1: Number One, they're they're scared to fail, and they're also
6:07
Speaker 1: scared of judgment. Right, So people are so scared of
6:10
Speaker 1: what others will think about if they maybe just want
6:13
Speaker 1: to create a business and they want to kind of
6:15
Speaker 1: call it out there and tell people that they're doing it.
6:17
Speaker 1: They think about that One girl from high school who's
6:20
Speaker 1: watching them on instat stories and who's going to say,
6:22
Speaker 1: why is Susie thinking that she can, you know, create
6:25
Speaker 1: a coaching business or whatever. So there's there's so much
6:28
Speaker 1: fear in what other people are thinking, which, by the way,
6:30
Speaker 1: we I bet you know, like most people don't Well
6:34
Speaker 1: maybe if you're on a reality show they can, but
6:37
Speaker 1: most people don't really judge us the way that we
6:39
Speaker 1: judge ourselves in that way, they don't care as much
6:42
Speaker 1: about us as we think they do. And then secondly, um,
6:45
Speaker 1: in terms of being scared of failure, the truth is
6:48
Speaker 1: like I welcome and I know this is kind of
6:50
Speaker 1: a cliche thing, but I swear failing is why I've
6:53
Speaker 1: succeeded because if it just came easy this whole entire time,
6:56
Speaker 1: it wouldn't feel fun or a challenge. I don't mind.
6:59
Speaker 1: Like I had launches for new programs and products that
7:02
Speaker 1: just kind of flopped right, like they just didn't do anything.
7:06
Speaker 1: And instead of just taking that down and making me
7:09
Speaker 1: like say that's it, I'm I'm done, I'm throwing in
7:12
Speaker 1: the tell. It's like, okay, let me just pivot a
7:13
Speaker 1: little bit my messaging or let me see what will
7:16
Speaker 1: work something is obviously not working, but it's not about me.
7:19
Speaker 1: It's not like I suck, you know, right, And I
7:22
Speaker 1: think complacency for me, at least is where I feel
7:26
Speaker 1: my worst, Like that's when when I'm just sitting there
7:30
Speaker 1: going through the motions. At least, if I set one
7:33
Speaker 1: new goal for myself when it comes from my business,
7:35
Speaker 1: and it could be anything, you know, like it can be,
7:38
Speaker 1: I'm gonna, you know, set I started setting up these
7:40
Speaker 1: learning opportunities, or I reached out to the woman that
7:43
Speaker 1: helps me run my company and I'm like, you know, hey,
7:46
Speaker 1: La Door, what is your advice? And she's like, you
7:48
Speaker 1: know what, we should do a book club, Like just
7:50
Speaker 1: little things that help build up your team so that
7:54
Speaker 1: you're connecting in more ways than just like these are
7:57
Speaker 1: you know, these are go toos that we have to
7:59
Speaker 1: do because that's what we get to know each other.
8:02
Speaker 1: And I think that's a huge part of creating a
8:04
Speaker 1: successful business is really connecting with the people that you
8:07
Speaker 1: work with. I mean, growing a team is one of
8:10
Speaker 1: the hardest parts of any sport of business, is creating
8:13
Speaker 1: not only a team that's all passionate and invested in
8:16
Speaker 1: what you're doing, because it's only your baby. Really it's
8:19
Speaker 1: like your baby, and you want them to care about
8:22
Speaker 1: it as much. So it really starts at the top
8:25
Speaker 1: and you have it has to trickle down, but doing
8:26
Speaker 1: stuff like that to connect everyone and reinvigorate people's passion.
8:30
Speaker 1: And I feel like a lot of times people do
8:32
Speaker 1: their business, or they run their their jobs, or they
8:35
Speaker 1: go to their work every day and it's just kind
8:37
Speaker 1: of like the same old It feels very you know,
8:39
Speaker 1: kind of routine. And so that's why I love running
8:42
Speaker 1: my own business because I can decide today, like I'm
8:45
Speaker 1: going to start a podcast, which I literally just decided
8:48
Speaker 1: the other day. I was like, I'm gonna do it,
8:49
Speaker 1: and I can do it right. So you find things
8:52
Speaker 1: that kind of excite you when you're feeling like another day,
8:55
Speaker 1: another same old you know. Yeah, I fully agree with Donna.
8:59
Speaker 1: I'm so excited to announce our first guest, which is
9:02
Speaker 1: Lynn Richardson. She has just written to a book called
9:06
Speaker 1: A Guide to Creating and Balancing Multiple Streams of Income,
9:09
Speaker 1: which I think is so key. Right now, Linda, is
9:13
Speaker 1: there anything you want to start off by saying as
9:15
Speaker 1: to kind of introduce yourself to our listeners. Well, you know,
9:19
Speaker 1: i'd like to say that I feel like Noah. No
9:21
Speaker 1: one was telling everybody was going to rain, Nobody believed him,
9:25
Speaker 1: they were laughing at him, and then all of a sudden,
9:27
Speaker 1: the world was filled with water. They were trying to
9:28
Speaker 1: get in the ark. I have been saying for the
9:30
Speaker 1: past two decades, everybody needs a home based business. Everybody
9:34
Speaker 1: needs a home based business. Everybody needs a home based business.
9:37
Speaker 1: And of course now everybody understands that everybody needs a
9:40
Speaker 1: home based business. And not just for the obvious reason
9:43
Speaker 1: that one string of income is hazards to your wealth,
9:45
Speaker 1: right one shoure become is totally has this to your wealth,
9:50
Speaker 1: but for so many other reasons. You know, we were
9:52
Speaker 1: taught to go to school, get a good education, get
9:54
Speaker 1: a good job. My grandmother, who raised me in Chicago, said,
9:58
Speaker 1: you know, go to church on Sunday. We're cleaning underwear
10:00
Speaker 1: in case you get hit by a bus. You know,
10:02
Speaker 1: we learned all of those things, right, But I didn't
10:04
Speaker 1: know a lot about money. So when I got off
10:06
Speaker 1: to Northwestern University my very first week of college, I
10:09
Speaker 1: got a bunch of credit cards. I couldn't afford to
10:12
Speaker 1: pay anybody. I'm at a very expensive school, on scholarship.
10:15
Speaker 1: So when the creditors will call and say, Lynn, can
10:17
Speaker 1: you borrow the money, I'd say, can I borrow it
10:19
Speaker 1: from you? You know, I had all these funny answers.
10:22
Speaker 1: I get out into the real world and my credit
10:24
Speaker 1: is jacked up, and I made so many mistakes, fast
10:27
Speaker 1: forward and making lots of money. I married, big house
10:30
Speaker 1: in the suburbs. But guess what I was still living
10:32
Speaker 1: Check the Monday. See check the check is a blessing
10:35
Speaker 1: that means you get paid on Friday. By the next
10:37
Speaker 1: pay day, you broke. But check the Monday is an
10:39
Speaker 1: entirely different game. You get paid on Friday, you have
10:43
Speaker 1: fun on the weekends, and by Monday, you're broke. And
10:45
Speaker 1: I was living that lifestyle making twenty fifty sixty seventy
10:49
Speaker 1: eighty thousand dollars a month, not a year a month.
10:52
Speaker 1: And I found then that more money doesn't solve a
10:55
Speaker 1: money problem. If it did, millionaires wouldn't go bankrupt. So
10:59
Speaker 1: the one thing that we all have to learn to
11:01
Speaker 1: do is understand that there are three types of income.
11:04
Speaker 1: The first type of income is earned income. That's when
11:07
Speaker 1: you trade your time for money. It's a job, it
11:10
Speaker 1: gets taxed the highest. That's the job that you have.
11:14
Speaker 1: And I'm not saying everybody should quit their jobs. Keep
11:16
Speaker 1: your job, but you need to know about the other
11:18
Speaker 1: two types of income. The second type of type of
11:21
Speaker 1: income is investment income from your four one K from
11:25
Speaker 1: stocks from investing. But the third and the biggest and
11:28
Speaker 1: the best rewarded type of income is passive income. And
11:32
Speaker 1: the number one way to create passive income is by
11:34
Speaker 1: starting a business. Why because the I R. S Loves
11:38
Speaker 1: businesses so much that they give businesses. And when I
11:42
Speaker 1: say business, I mean self employed people like anybody. If
11:47
Speaker 1: you could babysit, you could do hair, you could do nails,
11:49
Speaker 1: you can be an actress, you can have your own uber,
11:52
Speaker 1: you know, driving business. But self employed businesses give access
11:56
Speaker 1: to over four hundred seventy five tax deductions. So not
12:00
Speaker 1: only do you create another stream of income, but you
12:03
Speaker 1: get to get your money back. And what do I
12:05
Speaker 1: mean by get your money back? If you went to
12:07
Speaker 1: the grocery store and you bought two hundred dollars worth
12:10
Speaker 1: of groceries, and you came home and ate those groceries,
12:13
Speaker 1: and the grocery store manager told you to come back
12:16
Speaker 1: in a two in two weeks to get your money.
12:18
Speaker 1: You stop dropping roll and go get your money. But
12:21
Speaker 1: that's what the I R S says. When you have
12:24
Speaker 1: a business. The I R S says when you drive
12:26
Speaker 1: your car for business, when you use your computer for business,
12:29
Speaker 1: when you use your cell phone for business. As a
12:31
Speaker 1: matter of fact, the I R S says, you can
12:34
Speaker 1: hire your kids to work in your business, and you
12:37
Speaker 1: can pay each child up to twelve thousand, four hundred
12:39
Speaker 1: dollars a year. Now that's a tax right off to you.
12:42
Speaker 1: You get that money back, and then they can go
12:44
Speaker 1: pay for their own things like school clothes and school
12:47
Speaker 1: supplies and ballet and karate and tuition and things that
12:50
Speaker 1: you could not get a tax right off for. So
12:53
Speaker 1: having multiple streams of income is the one thing that
12:56
Speaker 1: I think people have never really been taught and don't
12:59
Speaker 1: understand and and I'm so excited about teaching people about
13:02
Speaker 1: this area so that we can have financial peace. Lynn,
13:06
Speaker 1: I have to say, I am I am, like, I'm
13:09
Speaker 1: just like watching you, like, oh my god, you're so
13:12
Speaker 1: energetic and passionate when you talk about this, which is
13:15
Speaker 1: I just know that you love doing this so much.
13:17
Speaker 1: You probably love teaching people all of this stuff, And
13:19
Speaker 1: I agree with you. I know Teddy agrees with you.
13:22
Speaker 1: We both own our own businesses. We're both incredibly like
13:26
Speaker 1: invested in um diversifying our income streams. And I think
13:31
Speaker 1: if anything taught us anything, it was this pandemic. Obviously,
13:34
Speaker 1: when one, you know, salary cuts out all of a sudden,
13:37
Speaker 1: you have all this other stuff still going for you
13:39
Speaker 1: that's growing, at least for myself, probably Teddy to probably
13:42
Speaker 1: you too, Lynn. But um, what about if there is
13:46
Speaker 1: someone out there who doesn't have a business yet, and
13:50
Speaker 1: you know, maybe just has a job, and then something
13:53
Speaker 1: went down right during this entire experience, during the pandemic,
13:57
Speaker 1: what would you suggest the first thing that they should do,
14:00
Speaker 1: um to kind of stabilize their income and their their
14:03
Speaker 1: money situation. Well, the first thing that everybody should do
14:07
Speaker 1: is to first of all, just gain control, keep things
14:10
Speaker 1: in proper perspective. We're used to being independent, we're used
14:13
Speaker 1: to things moving and going. But when something like this
14:16
Speaker 1: happens and income comes to a screeching halt, the very
14:19
Speaker 1: first thing we do is panic. We get anxiety. And
14:22
Speaker 1: what I say to everybody is this, first of all,
14:24
Speaker 1: take a deep breath, and I know that that sounds cliche.
14:27
Speaker 1: It's like, how is that gonna get me some money?
14:29
Speaker 1: Because you need a clear head to think, put things
14:31
Speaker 1: in perspective. As long as you have food, clothing, and shelter,
14:35
Speaker 1: then you can kind of say, let me breathe and
14:37
Speaker 1: let me think, and let me do the next best thing.
14:40
Speaker 1: The next thing that you do once you just kind
14:42
Speaker 1: of stabilize your mind and don't allow yourself to have
14:45
Speaker 1: anxiety and fear, because you can't do anything with anxiety.
14:48
Speaker 1: You can't do anything with fear. Fear isn't gonna get
14:51
Speaker 1: you anywhere. You need power, and you need control, and
14:55
Speaker 1: you need discipline. The next thing that you do is
14:57
Speaker 1: minimized as many expenses as possible. Go through every single
15:01
Speaker 1: thing in your checking account, every single subscription. I mean,
15:06
Speaker 1: and yes I had multiple businesses to continue to move
15:09
Speaker 1: and run. But what I did when the pandemic hit
15:12
Speaker 1: because I went through everything, I couldn't believe how many
15:15
Speaker 1: things I was spending money on that I did not use.
15:18
Speaker 1: So you want to minimize your expenses by every possible
15:21
Speaker 1: means necessary. The next thing that I would say to
15:24
Speaker 1: do is to not try to be a hero right now. Now,
15:27
Speaker 1: it's not the time to be a hero. We are
15:29
Speaker 1: concerned about two things, our health and our wealth. If
15:32
Speaker 1: your health is in order, then say a prayer, hallelujah.
15:36
Speaker 1: But then now you need to deal with your wealth.
15:38
Speaker 1: So you want to contact every single one of your creditors,
15:41
Speaker 1: let them know you've been impacted by the pandemic, and
15:44
Speaker 1: ask for the maximum allowable time for you to have
15:48
Speaker 1: an extension of payment or or or forbearance of payment.
15:52
Speaker 1: And you want to make sure that during that time
15:55
Speaker 1: you're still minimizing your expenses. So if your banker, if
15:58
Speaker 1: your mortga, if your car company, if your student loan,
16:03
Speaker 1: uh company, if they give you six months, now you've
16:06
Speaker 1: got six months to really dig in. Once you have
16:10
Speaker 1: given yourself a peace of mind, you stabilized, you put
16:13
Speaker 1: things in a proper perspective, you've minimized your expenses, and
16:16
Speaker 1: then you've gotten extensions on your other bills. Now is
16:20
Speaker 1: the time to start thinking about how you're going to
16:23
Speaker 1: create other streams of income. And once you start to
16:26
Speaker 1: do that, I think you you know, I'm not saying
16:28
Speaker 1: that this is so super easy. I'm certainly not saying
16:31
Speaker 1: that this is like a pie in the sky and
16:33
Speaker 1: it's just so easy. But what I believe is if
16:35
Speaker 1: you keep going, if you keep moving, if you keep
16:39
Speaker 1: walking in the direction that you're supposed to walk in,
16:42
Speaker 1: then you're going to collide with opportunity, and those opportunities
16:45
Speaker 1: are going to create cash flow for you and your family.
16:49
Speaker 1: I mean, when you're in a panic state, you're unable
16:52
Speaker 1: to create, You're unable to grow your I mean I
16:54
Speaker 1: know myself, like I when I am in my worst
16:57
Speaker 1: fits of anxiety, I'm not like, Wow, how am I
17:00
Speaker 1: going to take action in my business today? I'm focused
17:04
Speaker 1: in more that then I can't focus on anything else.
17:07
Speaker 1: And and and speaking of that, you know a lot
17:10
Speaker 1: of what I'm hearing right now, which I've done a
17:11
Speaker 1: previous podcast on, is you know divorces up right now?
17:16
Speaker 1: You said you've been married for twenty four years. Um,
17:20
Speaker 1: money issues between couples seems to be a big problem
17:24
Speaker 1: right now and kind of always. What tips do you
17:28
Speaker 1: have to avoid money becoming an issue in your marriage
17:31
Speaker 1: or um, you know, or to deal with it if
17:35
Speaker 1: it is an issue? Well, luckily and thankfully, yes, I've
17:39
Speaker 1: been married. We just turned twenty five years now, I've
17:42
Speaker 1: been together for twenty seven years. Yes, yes, um children,
17:46
Speaker 1: in college, all of those things, and I've made every
17:49
Speaker 1: possible financial mistake that could be made. That's why I'm
17:51
Speaker 1: an expert and I can help people and navigate them
17:55
Speaker 1: directly through Yes, because I went through that foreclosure, I
17:59
Speaker 1: found bankuet see in a chapter thirteen, I paid that off.
18:02
Speaker 1: And then the recession of two thousand and eight, kid,
18:04
Speaker 1: I follow the chapter seven. So I've been through all
18:06
Speaker 1: of those things. What I would say for couples is
18:09
Speaker 1: to keep the marriage about love and not make the
18:12
Speaker 1: marriage about what that love can buy or what money
18:16
Speaker 1: can buy. So, for example, my husband and I, I
18:19
Speaker 1: love him, I love him dearly. He's like the best
18:21
Speaker 1: thing that ever happened to me, one of the best
18:23
Speaker 1: things that ever happened to me. But I don't test
18:25
Speaker 1: that love by asking him to go buy me a
18:28
Speaker 1: new fur or a new diamond ring, or a new
18:30
Speaker 1: because really those things don't matter. So for so, for
18:34
Speaker 1: on the one side, if I'm expecting certain things that
18:38
Speaker 1: money can buy, then there may be a disappointment. And
18:41
Speaker 1: on the other side, if I am expecting to deliver
18:44
Speaker 1: things that money can buy, and I don't have the
18:46
Speaker 1: money to deliver it, So now I feel inadequate. Now,
18:51
Speaker 1: I may have, you know, an attitude problem now, and
18:54
Speaker 1: really it comes down to feelings of inadequacy. So when
18:57
Speaker 1: we move money out of the scenario. Now, don't get
19:01
Speaker 1: me wrong, everybody has to work. If you don't work,
19:03
Speaker 1: you don't eat around here. Okay, so everybody's gotta work.
19:08
Speaker 1: But I think when we place value on these monetary things,
19:12
Speaker 1: then we interrupt the love. And the truth is my
19:15
Speaker 1: husband and I we've been just as happy when we
19:17
Speaker 1: had no money. It was a little stressful, but we
19:20
Speaker 1: worked together and we used our energy to make our
19:24
Speaker 1: future what we wanted to be, as opposed to blaming
19:27
Speaker 1: each other, which leads me to the second thing, blame.
19:30
Speaker 1: I think oftentimes when couple's experience a financial setback, one
19:35
Speaker 1: person in the marriage or one person you know in
19:37
Speaker 1: the partnership tends to blame the other. And let me
19:40
Speaker 1: tell you I was the one to blame. I made
19:43
Speaker 1: all the mistakes in my marriage. I made all the
19:45
Speaker 1: financial mistakes. But let me tell you what gave me hope,
19:49
Speaker 1: and let me tell you what actually reinforced my commitment
19:52
Speaker 1: to fix it and get it right. It was my husband.
19:55
Speaker 1: He was patient, He was patient and He was much
19:58
Speaker 1: more concerned about my sad He was much more concerned
20:01
Speaker 1: about my good health. He was much more concerned about
20:04
Speaker 1: me being here than lamenting over the mistakes that I
20:08
Speaker 1: had made. So, you know, I just say to people,
20:11
Speaker 1: I think times like this really show us the value
20:13
Speaker 1: of life. It shows us the value of relationship. And
20:16
Speaker 1: that was a great time to go back and revisit
20:18
Speaker 1: those things that you enjoyed and the other person look
20:21
Speaker 1: at those things that you want from a relationship and
20:24
Speaker 1: find out how you can work together to get from
20:26
Speaker 1: one step to the next. Something I just saw that
20:29
Speaker 1: was incredible is you immediately took ownership for something that
20:34
Speaker 1: you said, you know, like I was the one to blame.
20:36
Speaker 1: Were you always of that mindset? Because I know sometimes
20:39
Speaker 1: in business, if I'm like in that place where I'm
20:42
Speaker 1: trying to go to the next level, like sometimes my
20:44
Speaker 1: husband will have a good point or a good idea
20:46
Speaker 1: or like some way to help me, and I'm like
20:48
Speaker 1: a little defensive about it, like I'm like, Okay, you know,
20:51
Speaker 1: I got it, you know, like I'm unable to fully
20:54
Speaker 1: open up and and take in that information. How we
20:57
Speaker 1: always like that? Are these things that you taught yourself,
21:00
Speaker 1: your time. You know, these are things that I taught
21:03
Speaker 1: myself through time, and unfortunately that I taught myself through suffering.
21:07
Speaker 1: So suffering happens when we don't face the truth. And
21:11
Speaker 1: the truth is, I was the cause of my money problems.
21:14
Speaker 1: The truth is I was the cause of whatever it
21:17
Speaker 1: is that I thought UM was going wrong. And after
21:21
Speaker 1: years of pointing the finger, after years of blaming other people,
21:25
Speaker 1: after years, the truth is, you still have to look
21:28
Speaker 1: at yourself. And I think each and every one of
21:31
Speaker 1: us the same way we have a good instinct about
21:33
Speaker 1: another person, or the same way we have a good instinct.
21:36
Speaker 1: You know, this person over here may not be right.
21:38
Speaker 1: There's a friend who's a little shady, there's a there's
21:41
Speaker 1: a guy or a girl that you don't think it's
21:43
Speaker 1: Let me tell you, we all have a good instinct
21:45
Speaker 1: about ourselves. And I think when we either hit rock
21:49
Speaker 1: bottom or we get tired of ignoring that good instinct
21:52
Speaker 1: about ourselves, then we're forced to kind of face the truth.
21:55
Speaker 1: Then we look around at the people who are in
21:58
Speaker 1: our circle, the people who love us. That could be
22:00
Speaker 1: a spouse, that could be a very good friend, it
22:03
Speaker 1: could be a parent, it could be a childhood friend,
22:05
Speaker 1: and that person is gonna tell you the truth. And
22:08
Speaker 1: let me tell you, the truth will set you free.
22:10
Speaker 1: But first it'll piss you off. First, it'll piss you off.
22:14
Speaker 1: It's gonna make you mad. Let me tell you, I
22:17
Speaker 1: sound all motivational right now, but if somebody came and
22:20
Speaker 1: told me something right now that I don't want to hear,
22:23
Speaker 1: I'm gonna get an attitude. But then once you have
22:26
Speaker 1: the attitude, Now you're sitting there with your attitude and
22:29
Speaker 1: you can't buy anything with your attitude. Your attitude ain't
22:32
Speaker 1: gonna get you anywhere. Your attitude and go get you.
22:34
Speaker 1: So then you're looking at yourself. You're like, attitude, Now,
22:37
Speaker 1: come on, attitude, And so you finally kind of have
22:40
Speaker 1: to admit to yourself, Okay, you know you need to
22:42
Speaker 1: do this right, but then you don't want anybody tell
22:45
Speaker 1: you have to do it. That's ego. So that's the
22:47
Speaker 1: process that we go through, and you know, we can
22:50
Speaker 1: laugh about it, but in those moments, we're not really
22:52
Speaker 1: happy with ourselves or anyone else, and so ourselves ourselfs
22:57
Speaker 1: myself me when I get sick and tired of my
23:00
Speaker 1: so then I know it's time for change. So I
23:02
Speaker 1: think it's important to just be aware of that and
23:04
Speaker 1: then try to work through it as as we try
23:06
Speaker 1: to get to the next step. Mm hmm, I love that.
23:10
Speaker 1: Do you do you just really fast? What if people
23:13
Speaker 1: struggle with money talking about money and like their money mindset,
23:16
Speaker 1: like they're scared to look at their own bank account
23:18
Speaker 1: or whatever. Do you have any like really quick tips
23:20
Speaker 1: for someone to just kind of rip off that band
23:22
Speaker 1: aid and accept and like go into their bank account
23:25
Speaker 1: and look at what they're spending their money on very quickly.
23:28
Speaker 1: One you cannot fix what you will not face. Two.
23:31
Speaker 1: Money is an exact science. It's the most dependable thing
23:34
Speaker 1: that exists. You cannot depend on people. You cannot depend
23:38
Speaker 1: on feelings and emotions. You can't even measure people. You
23:40
Speaker 1: can't even measure feelings and emotions. Can you tell me
23:43
Speaker 1: how much joy I have? Can I tell you how
23:46
Speaker 1: much joy you have? Can I tell you how any emotion?
23:48
Speaker 1: You can't? But you can dictate what happens with numbers.
23:52
Speaker 1: Because I say, nobody has a money problem. Everybody who
23:55
Speaker 1: has a money problem actually has a math problem. And
23:58
Speaker 1: that's one plus one equals too. And if your stuff
24:00
Speaker 1: adds up to ten. It'll never get into two. Now.
24:03
Speaker 1: It's all that stuff that we're attached to that we
24:06
Speaker 1: don't want to get rid of. But the truth is,
24:08
Speaker 1: if we face it, we can fix it. So good,
24:12
Speaker 1: I know, so good. And I have another question. This
24:14
Speaker 1: is a little selfish on my on my behalf. So
24:17
Speaker 1: before the pandemic, I had recently launched retreats, which I
24:20
Speaker 1: know a lot of people. You know, they've been very
24:23
Speaker 1: popular within the last couple of years. You know, I
24:25
Speaker 1: know you host wealth retreats. I was hosting health retreats.
24:29
Speaker 1: How have you pivoted during this time with that giving
24:34
Speaker 1: you know, your clientele the same type of information that
24:38
Speaker 1: they need right now, but without having those in person events. Well,
24:43
Speaker 1: you know we I get these invitations all the time
24:45
Speaker 1: from my colleagues, business partners, whether it be an event,
24:48
Speaker 1: a retreat, and I say, I'll see you on zoom.
24:52
Speaker 1: Let's get together for cocktails. I'll see you on zoom
24:55
Speaker 1: with my cocktail. Hey, let's get together. I will see
24:58
Speaker 1: you on zoom for the it And so I think
25:00
Speaker 1: right now we have an opportunity to just be a
25:03
Speaker 1: little more intentional, a little more strategic. I've hosted all
25:07
Speaker 1: day Saturday. Schools right here live virtually on the internet,
25:11
Speaker 1: and people stay, they stay engaged. So I think it
25:14
Speaker 1: just requires that we be a little more intentional, we
25:16
Speaker 1: pay a little more attention to detail. Um But at
25:19
Speaker 1: this end of the day, we want people to walk
25:21
Speaker 1: away from a feeling that they have when they come
25:24
Speaker 1: to an experience. And I think that that experience and
25:26
Speaker 1: that feeling can be had whether we're alive in person
25:30
Speaker 1: or whether we're working together, you know, over zoom or
25:32
Speaker 1: some other kind of virtual um uh method. Well, I
25:37
Speaker 1: can tell you you've made me feel alive right now
25:39
Speaker 1: and feel really good, and I am so grateful. I
25:41
Speaker 1: know Donna as as well, because you lit you've You've
25:45
Speaker 1: lit up our zoom. So I appreciate. And where do
25:50
Speaker 1: people find out more information from you? And if they
25:53
Speaker 1: have questions or anything like that, The best place to
25:55
Speaker 1: go is askaland dot org. If you go to askaland
25:58
Speaker 1: dot org submitted inquiry, you'll get an immediate reply and
26:02
Speaker 1: then you'll have all kinds of things that you can
26:04
Speaker 1: ask about, whether it be buying a home, foreclosure, bankruptcy, investing,
26:09
Speaker 1: starting a business, uh, preparing for retirement, whatever it is um,
26:14
Speaker 1: We've got it there. So I'm very excited and thank
26:16
Speaker 1: you so much for having me perfect. Don't be surprised
26:19
Speaker 1: if I'm flying into your d M s. I love it.
26:24
Speaker 1: I love it. Thank you so much. Thanks all right.
26:36
Speaker 1: So our next guest Gene Chotsky. I can't even believe
26:39
Speaker 1: she's coming on. I'm so excited. She is the founder
26:42
Speaker 1: and CEO of her Money Media. She also has a
26:45
Speaker 1: podcast called her Money. Who doesn't love that? And she
26:49
Speaker 1: is an award winning editor. She's been on everything from
26:51
Speaker 1: like NBC Today, ohbrah a r P. I have so
26:55
Speaker 1: many questions for her, and I'm sure you do as well.
26:57
Speaker 1: Donna beyond Hijeene, thanks for joy are tapod. I am
27:02
Speaker 1: so excited to be here with you. You know you
27:05
Speaker 1: and I share something in common. Bloomington, Indiana. Is that
27:10
Speaker 1: how we're from? I well, I grew up in many
27:13
Speaker 1: many places, but I went to Benford Junior High School
27:17
Speaker 1: in Bloomington, Indiana, and first year of high school there.
27:21
Speaker 1: My dad taught at the university, so we were there
27:23
Speaker 1: for about five years. Oh wow, that is so crazy.
27:26
Speaker 1: It's such a small world, such a small world where
27:30
Speaker 1: a small town girls exactly many small towns. In my case,
27:35
Speaker 1: I love that. Um, well, thank you for coming on
27:39
Speaker 1: and talking to us about, you know, all things finance money.
27:45
Speaker 1: So many people are struggling right now, and so that
27:47
Speaker 1: that's why I really am curious, Like, because so many
27:50
Speaker 1: people are going to lose federal enhancement on their unemployment,
27:55
Speaker 1: what is the first thing they should be looking at
27:58
Speaker 1: to cut back on to save money? And your tea,
28:01
Speaker 1: I think they before they look to cut back, they
28:03
Speaker 1: should look at where their money is actually going. So
28:07
Speaker 1: during this time when the unemployment benefits have been coming
28:12
Speaker 1: in and when we've all been stuck at home, we've
28:15
Speaker 1: been spending a lot less than we were spending before.
28:19
Speaker 1: We've been saving a much much bigger percentage of our
28:23
Speaker 1: disposable income. And I think it has taught us all
28:28
Speaker 1: a lot about where we really need to spend money
28:31
Speaker 1: and where we don't need to spend money. So before
28:34
Speaker 1: you try to make any wholesale cuts, I would say,
28:37
Speaker 1: take a good look at where your money has gone
28:39
Speaker 1: for the last month. Just look at very few of
28:42
Speaker 1: us have been spending cash, because we're not out in
28:45
Speaker 1: the world spending cash. So look at where you've made
28:48
Speaker 1: online purchases. Look at where you've used your credit card,
28:52
Speaker 1: try to get a sense of your subscriptions, you know,
28:56
Speaker 1: really lay it out and then look it thinking about, Okay,
29:02
Speaker 1: could I tweak this, could this be a little bit lower?
29:04
Speaker 1: Could I spend a little less here? I mean, I
29:08
Speaker 1: think that we have learned such amazing skills that we
29:14
Speaker 1: should try our best to hold onto. You know, for
29:17
Speaker 1: the first time ever, I think a lot of us
29:20
Speaker 1: are not going to the grocery store every day where
29:22
Speaker 1: we're going week right and and so, and that is
29:26
Speaker 1: forcing us to meal plan. It's forcing us to actually
29:29
Speaker 1: make a list and say, Okay, this is what we're
29:34
Speaker 1: eating on Sunday, We're going to eat it again on
29:36
Speaker 1: Tuesday in tacos. And you know we we it's it's fabulous.
29:42
Speaker 1: We just have to keep going. I know, I'm also
29:46
Speaker 1: a little bit crazy in the same way because I'll
29:48
Speaker 1: see my husband like mindlessly grabbing someone like that has
29:51
Speaker 1: the last what are you doing? You need to actually?
29:57
Speaker 1: I know, and I think there look, there's a there's
29:59
Speaker 1: death only a line between hoarding and buying the right
30:03
Speaker 1: amount of stuff. Right, Like, I walked down my street
30:06
Speaker 1: and I see some of my neighbor's garage doors open
30:09
Speaker 1: and the paper towels stacked to the ceiling, and I
30:11
Speaker 1: just think, oh, please, But having a couple of packages
30:16
Speaker 1: of you know, chicken and the freezer so that you
30:19
Speaker 1: can just pull them out make dinner. I've been going
30:21
Speaker 1: to the farmer's market once a week or once every
30:24
Speaker 1: two weeks and just loading up on veggies, and I
30:27
Speaker 1: cook the ones that are going to go bad first,
30:29
Speaker 1: and I cook the ones that have a longer shelf
30:31
Speaker 1: life later. It's it's made my life a lot easier
30:35
Speaker 1: and cheaper, and also support local businesses I've been doing,
30:39
Speaker 1: like the fresh to farm organic delivery, and that's so huge.
30:43
Speaker 1: And now all of a sudden, we're trying foods that
30:45
Speaker 1: we had completely forgotten about. I know, I know. I
30:49
Speaker 1: mean I got good at beans and then I got
30:51
Speaker 1: sick of beans. But I've been, um, I've been grilling
30:55
Speaker 1: so many things. I've been grilling salad, I've been I'm
30:58
Speaker 1: just I'm having fun with my cooking for the first
31:01
Speaker 1: time in a long time. I mean, I'm not having
31:03
Speaker 1: fun on the scale, but I am having I'm not
31:06
Speaker 1: having fun with the dishes. Yeah, So I have a
31:10
Speaker 1: question for Eugene randomly. Um, I feel like number one,
31:14
Speaker 1: your voice is so familiar to me, just because I
31:16
Speaker 1: was just saying that, like I listened to so many years,
31:18
Speaker 1: like on the Today Show and whatever, and so I
31:20
Speaker 1: love your voice. Um I I feel like, you know,
31:23
Speaker 1: when you're going through our day feeling kind of down
31:26
Speaker 1: or you know, wanting something exciting, It's like I go
31:29
Speaker 1: to Amazon, right I'm always on Amazon, of like, what
31:32
Speaker 1: can I do? I think I'm gonna buy a new
31:34
Speaker 1: bikini that no one's gonna see. I feel like making
31:38
Speaker 1: random purchases. Are you feeling like a lot of people
31:40
Speaker 1: are doing that. They're shopping kind of mindlessly and for
31:43
Speaker 1: things that they don't really need right now? Yeah, I
31:45
Speaker 1: think impulse purchases are making us feel better. You know,
31:48
Speaker 1: They're making us feel a little bit more normal. And
31:52
Speaker 1: I'm guilty of it too. I've just started I will
31:55
Speaker 1: do the shopping and not the buying. So I kind
31:59
Speaker 1: of find if I go on line and I put
32:00
Speaker 1: things in my cart and then I just leave. I
32:03
Speaker 1: don't really need them, I don't want them. I certainly
32:05
Speaker 1: don't have anywhere to go, but I get that little
32:09
Speaker 1: kick of doing, of doing it, and and then you know,
32:13
Speaker 1: if there's something that I keep thinking about, like there
32:15
Speaker 1: was a there was a summersault bathing suit, like that
32:18
Speaker 1: is one of those things that right they I actually
32:21
Speaker 1: will wear that, right that I am wearing bathing suits
32:24
Speaker 1: and shorts more this summer, And I kept thinking about
32:26
Speaker 1: it and thinking about and finally I just went back
32:28
Speaker 1: and bought it. But it you know, I knew, I
32:30
Speaker 1: knew that that was pretty high on my list. Yeah,
32:34
Speaker 1: what's one thing that people are doing with their money
32:37
Speaker 1: or maybe they've always done this, or maybe more now
32:39
Speaker 1: than ever, that you wish they would stop. M Well,
32:45
Speaker 1: right now they're doing I mean we're seeing more and
32:47
Speaker 1: more people trading kind of actively. I think we're seeing
32:51
Speaker 1: people getting some of that high that they they might
32:53
Speaker 1: have gotten, you know, if there are people who like gambling,
32:56
Speaker 1: we're seeing a lot of that morph into day trading.
32:59
Speaker 1: And worry about the young people who have gotten on
33:02
Speaker 1: robin hood and are just trading stocks like it's easy.
33:06
Speaker 1: I mean, everybody's a genius trader when the markets are
33:08
Speaker 1: going up. It's when the markets are going down that
33:10
Speaker 1: you've realized you've got a problem. So I wish people
33:13
Speaker 1: would would be a little more planned in general and
33:18
Speaker 1: and cautious about um the way that they're investing right.
33:26
Speaker 1: And for me, little things have been adding up, like
33:29
Speaker 1: subscription purchases that I like didn't even realize. So like
33:33
Speaker 1: I had downloaded the Calm out but I wasn't using
33:35
Speaker 1: the calm map anymore. I started using Headspace, and like
33:38
Speaker 1: I recently went through my like iTunes like family Sharing,
33:42
Speaker 1: and I was like, this is obscene the amount of
33:45
Speaker 1: things I don't even realize that I'm paying for every month.
33:49
Speaker 1: I know, and you're not alone. So statistically, the average
33:53
Speaker 1: family has twenty one subscriptions. Like what right? But I did?
33:58
Speaker 1: I did the same thing. I mean, I I I
34:00
Speaker 1: need to get back on Headspace, but I I have.
34:04
Speaker 1: I've gone through and looked at these different subscriptions and
34:07
Speaker 1: some of them were things that my kids signed up
34:09
Speaker 1: for that I didn't even realize. I was still paying
34:12
Speaker 1: for Go Go WiFi, right the airplane WiFi from the
34:17
Speaker 1: travel that I stopped doing six months ago. It took
34:20
Speaker 1: me a few months to catch up with that one
34:22
Speaker 1: and cancel it. And the real the ones that gave
34:24
Speaker 1: you the most is especially right now because like I
34:27
Speaker 1: let my kids have tablet time for an hour day
34:30
Speaker 1: from four to five, and which some people are against.
34:33
Speaker 1: But whatever, maybe, but now they have learned even though
34:36
Speaker 1: I've put all these passwords to download their own games,
34:39
Speaker 1: and all of a sudden, I'm getting charged for games
34:40
Speaker 1: I never even heard of, or you know, like I'm like, what,
34:44
Speaker 1: how are you? How are you breaking the system? So
34:46
Speaker 1: I think it's also really monitoring our family too, no kidding.
34:52
Speaker 1: My next door neighbor her son actually spent hundreds of
34:56
Speaker 1: dollars on in app purchases last month on Xbox. It
35:00
Speaker 1: happened to me. Yes, all of a sudden, my husband
35:03
Speaker 1: was like doing like he got a notification that there
35:06
Speaker 1: was a hundred and twenty nine dollar purchased on an
35:08
Speaker 1: app store, and my son didn't. He's seven, he didn't
35:11
Speaker 1: know he was doing it. He was buying diamonds for
35:14
Speaker 1: something like for a game. Yeah the extra lives, right,
35:17
Speaker 1: that mean nothing, but you think they mean something because
35:20
Speaker 1: you just you're in the in the zone. So yeah,
35:22
Speaker 1: you're absolutely right. We have to watch our kids. I
35:25
Speaker 1: have a subscription to a wine company that I have
35:29
Speaker 1: so much wine in my fridge, like I can't keep up.
35:31
Speaker 1: But I'm scared to like get rid of it because
35:33
Speaker 1: I love it and I don't want to. You know,
35:35
Speaker 1: It's like we all have our thing, right, Yeah, which
35:37
Speaker 1: one do you have? I was doing wink for a
35:40
Speaker 1: long time, but now I'm really into dry farm wines.
35:43
Speaker 1: Oh all right, I have naked wines and I like
35:45
Speaker 1: that one. I feel like it's the organic healthy wines. Teddy,
35:49
Speaker 1: get on board with the healthy stop having a wine subscription.
35:52
Speaker 1: We'd be having a whole different podcast about what would
35:59
Speaker 1: be like your guess piece of advice for anybody right
36:02
Speaker 1: now financially struggling financially trying to you know, build up
36:07
Speaker 1: their business or start a business, or that's feeling stuck
36:10
Speaker 1: in this moment. Okay, so so two things. Um. For
36:15
Speaker 1: the feeling stuck part, I don't think the focus should
36:20
Speaker 1: be on solving the problem as much as just taking
36:23
Speaker 1: a step. Right When we look at resilience, which I
36:27
Speaker 1: think is the thing that we all really really need
36:30
Speaker 1: right now. The way to get more resilience is to
36:33
Speaker 1: just do something and to acknowledge that you're putting yourself
36:36
Speaker 1: in motion. You're that snowball rolling down the hill. You're
36:38
Speaker 1: gonna pick up speed, You're gonna pick up momentum, and
36:41
Speaker 1: you'll probably go wildly off course. But that's okay. You'll
36:44
Speaker 1: write your ship. You just have to start. And that's
36:49
Speaker 1: true of your finances too. If you've never looked at
36:53
Speaker 1: your finances, if you are feeling out of control, just
36:57
Speaker 1: get honest with the numbers. Just do that a cestament
37:00
Speaker 1: that I was talking about before, but not just of
37:03
Speaker 1: your spending. Look at what you earn, what you own,
37:07
Speaker 1: and what you owe, and and over time, you want
37:10
Speaker 1: to see the amount you're earning going up steadily. You
37:14
Speaker 1: want to see the amount you own going up, so
37:16
Speaker 1: the assets and your retirement account and in your savings,
37:19
Speaker 1: and you want to see the amount that you owe
37:22
Speaker 1: going down, with the exception of making a large purchase
37:25
Speaker 1: like a house. Um. But if you can sort of
37:27
Speaker 1: get a grip on those things, then you'll feel more calm,
37:33
Speaker 1: you'll feel a little bit less chaotic, and then you
37:36
Speaker 1: can dig into the spending if you want to dig
37:38
Speaker 1: into it, and be a little more planful about that too. Yeah,
37:43
Speaker 1: such a good idea of planning, being aware and actually
37:46
Speaker 1: knowing what you're doing with your money. It's a crazy
37:48
Speaker 1: concept that most of us try to avoid. Yeah, we
37:53
Speaker 1: stick our heads in a hole. We don't want to
37:55
Speaker 1: look because because we don't want to see what we've
37:58
Speaker 1: done in the past, right, but can't change what we
38:01
Speaker 1: did in the past. I mean, you can return a
38:02
Speaker 1: few things, that can't return everything, and we just we
38:06
Speaker 1: go forward tomorrow. I mean, I got divorced at forty.
38:08
Speaker 1: I've pretty much started over at that point and I'm
38:14
Speaker 1: five noon fine, And I think everybody has the ability
38:18
Speaker 1: to do that. I know we all have the ability
38:20
Speaker 1: to to do fine and to be too better than fine,
38:23
Speaker 1: and to feel our best. It's whatever works you know
38:27
Speaker 1: best for us. So thank you so much, Gean. I
38:30
Speaker 1: you made us laugh, you you gave us some great tips.
38:33
Speaker 1: I am so grateful to you for coming on and
38:35
Speaker 1: thanks for having me. And now I'm gonna go buy
38:37
Speaker 1: another bathing suit at summer at Sweet Sold or Summer
38:40
Speaker 1: Sold or whatever. And the next time you guys see me,
38:43
Speaker 1: I'm gonna have thousand wines in my friends. There you go,
38:46
Speaker 1: we'll drink together. There you go, yours, ladies. By So
38:51
Speaker 1: we've talked a lot to business consultants and how to
38:54
Speaker 1: grow your business, but I also want to talk to
38:56
Speaker 1: some small businesses and kind of dig into how they've pivoted,
38:59
Speaker 1: what they they've done to keep themselves, you know, alive
39:02
Speaker 1: during this time, especially the touch business. So let's bring
39:05
Speaker 1: on Kate Summerville and dig into her a little bit. So,
39:16
Speaker 1: as I said, you guys, I am totally fan girling
39:19
Speaker 1: over having Kate Summerville on. Kate Summerville is the trailblazer
39:24
Speaker 1: of Like Prestige Skincare. She opened up in two thousand
39:28
Speaker 1: four and is known as the guru of glow on
39:33
Speaker 1: all the celebs, entertainers, and other high profile personalities. So
39:36
Speaker 1: I really want to ask her how she's pivoted things
39:39
Speaker 1: that she's working on right now, and how she's keeping
39:42
Speaker 1: her business thriving during this time because they're completely closed.
39:46
Speaker 1: Thank you so much for joining us. How are you?
39:49
Speaker 1: I'm good? How are you? I'm good? Um? I am
39:53
Speaker 1: sitting here feeling so great because I was having some
39:56
Speaker 1: major maskin me and then you sit over some products
40:00
Speaker 1: and now I'm really I'm already clearing right up. I
40:03
Speaker 1: was like, good worked overnight. I cannot well good, I'm
40:08
Speaker 1: glad it worked. So we're talking today about like business
40:12
Speaker 1: during the pandemic, and I think we're businesses. Um, you know, skincare,
40:18
Speaker 1: hair salons, any of those typans really had to you know,
40:23
Speaker 1: shift there and you know what they're doing right now
40:26
Speaker 1: because it's so many places I've closed and then open
40:29
Speaker 1: and then goes in. What are some tips that you
40:31
Speaker 1: could give some people that are in your industry that
40:34
Speaker 1: are listening, Well, it's tough right now, especially if you're
40:37
Speaker 1: in touch industry. You know, what's saved me so much
40:41
Speaker 1: is having the product line UM. You know, but we've
40:45
Speaker 1: had to pivot because our our top vendors have been
40:48
Speaker 1: Sephora and Nordstrums of course, and so we've had to
40:53
Speaker 1: really focus on digital and really speaking to our customer
40:58
Speaker 1: UM and our clip Nick unfortunately hasn't been able to
41:02
Speaker 1: open UM just you know, the numbers are just not
41:05
Speaker 1: going into the right way and it's just too dangerous
41:09
Speaker 1: and so UM. You know, our team has completely done
41:13
Speaker 1: an awesome job of refocusing on our communications and our
41:20
Speaker 1: self sales through digital means and social media and things
41:25
Speaker 1: of that nature. So we are really blessed because you know,
41:31
Speaker 1: for so many years, I just had the clinic and
41:34
Speaker 1: I thought to myself, can you imagine you know where
41:37
Speaker 1: I would be? And so many of my colleagues, you
41:41
Speaker 1: know that that rely on touch services are hurting and
41:46
Speaker 1: it's it's scary. But UM, we we did a donation
41:50
Speaker 1: UM to help a lot of the beauty individuals UM
41:54
Speaker 1: and UM. So we're doing everything that we can because
41:58
Speaker 1: right now we're we're stable, UM, thank god. As far
42:03
Speaker 1: as the products, the product line is concerned, and you
42:06
Speaker 1: guys launched a brand new product right at the beginning
42:09
Speaker 1: of this, right we did, and you know it came
42:12
Speaker 1: at the right time. And I obviously didn't time this,
42:16
Speaker 1: but you know you've been into our clinic on Melrose
42:19
Speaker 1: Place and you know we do a lot of lasers,
42:23
Speaker 1: a lot of peels there and we also have seen
42:27
Speaker 1: a lot more people come in with UM sensitized skin,
42:32
Speaker 1: meaning that UM they've overdone it maybe with redinals or peels.
42:37
Speaker 1: They're using way more products on the skin, so they're
42:41
Speaker 1: they're kind of compromising their their skin barrier. UM. And
42:46
Speaker 1: through this pandemic, it's super important to keep your barrier,
42:50
Speaker 1: your skin barrier healthy because what we know through John
42:54
Speaker 1: Hopkins is UM the virus cannot treat healthy skin. So
43:00
Speaker 1: UM this line is called Delicate and that's exactly what
43:05
Speaker 1: it is. It's it's really to have the skin rebound
43:09
Speaker 1: by using its three products. It's a cleanser um, it's
43:13
Speaker 1: a serum and a moisturizer. And basically what it does
43:18
Speaker 1: is it creates this barrier over the skin to allow
43:22
Speaker 1: the skin to heal. So um. It has a lot
43:25
Speaker 1: of seramids, Omega's UH peptides that help with inflammation. UM. So,
43:33
Speaker 1: you know, it's been our biggest launch to date, which
43:36
Speaker 1: is so crazy because you know, retail is a lot
43:40
Speaker 1: of it is shut down. UM. But we were able
43:43
Speaker 1: to get that message out and we also donated UM So,
43:47
Speaker 1: I don't know if you know that, well you do
43:49
Speaker 1: know this because you've been to the clinic that four
43:51
Speaker 1: of my nurses that are in the clinic are on
43:55
Speaker 1: the front lines um there in the hospitals. And they
44:00
Speaker 1: were telling me early on, you know, okay, we have
44:03
Speaker 1: no ppe. It's so dangerous in the beginning, and so
44:07
Speaker 1: quickly our clinic donated everything that we had in our
44:11
Speaker 1: clinic to them in the hospitals. And then what was happening.
44:16
Speaker 1: They were working sixteen eighteen hour days and their poor
44:19
Speaker 1: faces had these like you know, sores and um. So
44:25
Speaker 1: I asked the team is there a way that we
44:27
Speaker 1: could donate to the healthcare workers to really help prepare
44:32
Speaker 1: their skin barrier because they're obviously way more susceptible to
44:38
Speaker 1: getting virus because they're exposed to it and these masts
44:42
Speaker 1: are really digging into their skin. And so my team
44:45
Speaker 1: was so awesome they quickly moved. We we donated sixty
44:51
Speaker 1: thousand products UM to healthcare workers around l a UM
44:56
Speaker 1: and actually around the country and so we're super proud
45:00
Speaker 1: of that, and you know, so we're just doing everything
45:03
Speaker 1: that we can. UM. I just feel blessed this this
45:07
Speaker 1: product launched when it did because it's all about protecting
45:13
Speaker 1: the skin barrier, and we're we're donating a lot of
45:16
Speaker 1: these UM products. In fact, a lot of we went
45:19
Speaker 1: out of stock UM, but we're back in stock that
45:23
Speaker 1: we wanted to donate to the people that are saving
45:26
Speaker 1: lives and for those who aren't in the same kind
45:30
Speaker 1: of you know situation as you where they don't have
45:32
Speaker 1: as long as a history and their names at out there,
45:36
Speaker 1: would you say, like the actionable skills you'd be you know,
45:39
Speaker 1: listen to the people that you're working with, lean into
45:42
Speaker 1: products right now, yes, be doing touch services. So we're Yeah,
45:46
Speaker 1: we're doing We're doing a lot of consultations online, so
45:50
Speaker 1: we're we're still keeping in contact with our customer and
45:54
Speaker 1: our clients. So UM those asteticians or hairdressers, a lot
46:00
Speaker 1: of my friends that are really great hairdressers, UM, they're
46:04
Speaker 1: putting together color kits for their clients and kind of
46:08
Speaker 1: zooming and showing them how to do it. So it's
46:12
Speaker 1: kind of unique in that UM. One of one of
46:15
Speaker 1: the guys that I know is actually making more by
46:19
Speaker 1: putting kids together for his clients than he did when
46:22
Speaker 1: he was UM actually in the salon. So there's ways
46:26
Speaker 1: to pivot. And I always just tell my team, Okay,
46:30
Speaker 1: we've been through the writers strike, which was one of
46:33
Speaker 1: the toughest things for my clinic, believe it or not,
46:36
Speaker 1: UM in Hollywood, because everybody really stopped coming UM. And
46:42
Speaker 1: then we went through the recession two thousand and eight
46:45
Speaker 1: and nine eleven, and so we've been through a lot
46:50
Speaker 1: of storms, and I'm like, Okay, it's time to hunger
46:53
Speaker 1: down right now. And then you know, look to ways
46:56
Speaker 1: to still stay in contact with your your base. And
47:00
Speaker 1: so that's how I would do it. And also, you know,
47:03
Speaker 1: you could customize a facial for them send them products. Um,
47:08
Speaker 1: that kind of thing I feel. No, I was just
47:12
Speaker 1: gonna say that a lot of my clients come to
47:14
Speaker 1: me that are hairdressers, they're in the touch industry. And actually, Kate,
47:19
Speaker 1: my mom was aesthetician my whole life here in l Well,
47:22
Speaker 1: look at your skin. Well that's because of my mom.
47:26
Speaker 1: She was like, Donna, you've got it. But I I
47:30
Speaker 1: feel for you because I understand how it's so out
47:32
Speaker 1: of your control when you feel like what your job
47:36
Speaker 1: is and what your passion in your industry is touching people, right,
47:39
Speaker 1: so like the right in their faces. Um, thank god
47:42
Speaker 1: you have this amazing line. But uh, for a lot
47:45
Speaker 1: of my clients, I offer that they teach that they
47:47
Speaker 1: give also education like um, pivot to creating, maybe some
47:52
Speaker 1: digital courses or online webinars. You know, one of my
47:56
Speaker 1: friends is a big makeup artist here in l A
47:58
Speaker 1: and um, you guys probably know her, Jamie Greenberg, and
48:01
Speaker 1: she is, uh, she's teaching classes. So she's teaching how
48:05
Speaker 1: to do the perfect cat I or whatever. So she's
48:08
Speaker 1: finding ways to still bring income in and impact without
48:13
Speaker 1: actually touching people. Right. Yeah, this is gonna change our
48:17
Speaker 1: industry a lot. I think too. When we were right
48:20
Speaker 1: about to open UM we found ourselves, Okay, how do
48:25
Speaker 1: we keep our clients safe now? Which I think is
48:28
Speaker 1: going to carry through for us, Like, you know, we
48:31
Speaker 1: had to take all um Linen's out of the room,
48:34
Speaker 1: We had to put in um air filters. We had
48:38
Speaker 1: to figure out how for ppe for us, how are
48:43
Speaker 1: we going to do our job with all this stuff
48:46
Speaker 1: on us now? And so I think the industry there's
48:49
Speaker 1: so much need for now pivoting and so figuring out,
48:54
Speaker 1: you know, what it is that you can do to
48:58
Speaker 1: make a difference in this climate, because this climate is
49:02
Speaker 1: I think not gonna change, right even when we get
49:05
Speaker 1: a serum. I think now people are going to be like, oh,
49:07
Speaker 1: I need to be more careful. So now changing our businesses,
49:12
Speaker 1: you know, to accommodate that I think is gonna be
49:16
Speaker 1: really important. I agree, And I mean I've even noticed
49:20
Speaker 1: that my self care has changed now that I can't
49:23
Speaker 1: be going in for facials like all of a sudden, like, oh,
49:25
Speaker 1: I need to start taking better care of myself. And
49:28
Speaker 1: so I am going to you know, I'm I'm looking
49:32
Speaker 1: at your guys Instagram. I'm looking to, you know, find
49:35
Speaker 1: out how to do it. So I think it's so
49:37
Speaker 1: key to just listen to your clientele on what we need,
49:41
Speaker 1: you know, So no matter what business you're in, because
49:43
Speaker 1: then you're able to give back, you're able to help,
49:46
Speaker 1: and you're also able to stay in business. Yeah. Absolutely, Yeah,
49:50
Speaker 1: And also you know, my whole goal always, you know,
49:54
Speaker 1: is I've learned a lot being in a medical facility,
49:59
Speaker 1: in a medical on XT so my job was to
50:02
Speaker 1: say and I was also on QBC for twelve years
50:05
Speaker 1: and so I was like when I went into retail,
50:09
Speaker 1: I'm like, how am I going to give this kind
50:12
Speaker 1: of service and result without downtime safely um to the
50:18
Speaker 1: clients outside of my clinic, And and That's what I've
50:22
Speaker 1: tried to do. So, like our dermal quench product really
50:26
Speaker 1: came from the idea of my dermal quench treatment that's
50:30
Speaker 1: an oxygen treatment. So like I've really tried to take
50:34
Speaker 1: that level of result into the home and um So
50:40
Speaker 1: this is just another one of those opportunities to really
50:44
Speaker 1: teach that um you know, because it we're presented with Okay,
50:49
Speaker 1: we've got to do it online, We've got to do
50:51
Speaker 1: it digitally without touch right now. Yeah, at different price points. Absolutely,
50:58
Speaker 1: thank you so much, Kate. Can where do people book
51:01
Speaker 1: virtual consultations with you guys and whatnot? So you can
51:05
Speaker 1: go to Kate Summerville dot com UM and it will
51:09
Speaker 1: prompt you through where to do a consultation. The consultations
51:12
Speaker 1: are with our our nurses at the clinic, with our
51:15
Speaker 1: asteticians UM and so they'll build a program for you,
51:20
Speaker 1: UM and when we're back and we'll be able to
51:22
Speaker 1: teach you about new things, because that's the cool thing.
51:25
Speaker 1: This has given us an opportunity to find some new
51:29
Speaker 1: things and UM, you know, expand our facial treatment services.
51:34
Speaker 1: And we also did a remodel, so that came at
51:37
Speaker 1: the right time because now things are a lot more
51:41
Speaker 1: UM sterile and streamline in the clinic. So that Kate
51:45
Speaker 1: Summerville dot com. We would love to UM give you
51:48
Speaker 1: a consultation and get to on the path to beautiful,
51:52
Speaker 1: healthy skin. Thank you so much, Kate. I hope to
51:55
Speaker 1: see you in person. I know I would love that too. Guys.
52:10
Speaker 1: We are so excited to bring on our next guest.
52:13
Speaker 1: Her name is Melissa Sig and she owns she's a
52:16
Speaker 1: co owner of the Tahoe Art House in Cinema, which
52:19
Speaker 1: was a movie theater that at the beginning of COVID
52:23
Speaker 1: was donated an outdoor movie screen. Correct, it was not
52:27
Speaker 1: the beginning of COVID. It was basically kind of at
52:31
Speaker 1: the end of the quarantine period when we realized we
52:35
Speaker 1: were going to have to pivot that the movie theater
52:38
Speaker 1: probably was not going to be allowed to open for
52:40
Speaker 1: many months. So that's why we decided to do a
52:42
Speaker 1: drive it. And how is that going so far? What's different?
52:46
Speaker 1: Hasn't been about the same level of income or has
52:50
Speaker 1: there been a shift as well? There's a big shift.
52:53
Speaker 1: Actually it's not the same. Our theater has a hundred
52:56
Speaker 1: seats and we sell beer and wine, and usually in
53:00
Speaker 1: the summer we're doing three shows a day, so if
53:02
Speaker 1: we have a big popular movie, we could be seeing
53:05
Speaker 1: up to three people a day. With the drive in, um,
53:09
Speaker 1: we were doing about twenty two cars, so that's about
53:14
Speaker 1: you know, usually two people per cars. Sometimes there's more.
53:17
Speaker 1: So we're you know, we're about cutting our numbers in
53:19
Speaker 1: half and we're only doing one movie a day because
53:22
Speaker 1: we have to wait for it to be dark and
53:23
Speaker 1: we can't sell beer. I was just about to ask,
53:26
Speaker 1: because I'm sure a lot of your sales were in alcohol,
53:28
Speaker 1: so you can't all of that at all, even for passengers.
53:32
Speaker 1: You can have open containers of alcohol in your car
53:35
Speaker 1: in the state of California. So people are allowed to
53:38
Speaker 1: come to our we have a little courtyard outside our theater.
53:41
Speaker 1: They can have a drink there, but we can't promote
53:43
Speaker 1: it inside the cars. And then hasn't changed by what
53:49
Speaker 1: type of movies you're showing, Like do you have more
53:52
Speaker 1: of it's a kid's movie versus or like an action movie,
53:54
Speaker 1: or like what are the type of movies that you're promoting. Yeah,
53:58
Speaker 1: well definitely. As you know, there are new releases in
54:00
Speaker 1: Hollywood and they keep getting pushed back. I don't foresee
54:04
Speaker 1: any new releases for actually many months. So we decided,
54:07
Speaker 1: because the driving is kind of an old school vibe,
54:09
Speaker 1: we've been going kind of popular eighties movies. Um, so
54:15
Speaker 1: we did that. We started off with Close Encounters of
54:17
Speaker 1: the Third Kind. We've done a lot of Spielberg movies
54:20
Speaker 1: because he was such, you know, he was like the
54:22
Speaker 1: star of the eighties. We've done Raiders of the Lost Ark,
54:26
Speaker 1: we did Fair Steeler. Um, let's see this weekend, we're
54:31
Speaker 1: doing Footloose. So we just kind of have to reach
54:33
Speaker 1: into the vault, and we can only do older movies.
54:38
Speaker 1: If you do, girls just want to have fun. I'm driving.
54:42
Speaker 1: That is a good idea. I'm going to write that
54:44
Speaker 1: one down. I like, I feel like there is something
54:48
Speaker 1: so kind of cool and old America gas feeling of
54:52
Speaker 1: drive in. I remember going to a driving when I
54:54
Speaker 1: was a kid, Like I remember just only once, but
54:56
Speaker 1: oh you have to air Greece. I feel like that's
54:58
Speaker 1: a that's a drive in movie Greece right through the
55:02
Speaker 1: second person who suggested that when when you like look
55:07
Speaker 1: around at what you've kind of pivoted to, Obviously you
55:10
Speaker 1: have two choices, right, you either completely shut down or
55:13
Speaker 1: you do this. So this is clearly a better choice
55:16
Speaker 1: I think than shutting down. Is there anything that you
55:18
Speaker 1: can think of maybe that you have been able to
55:20
Speaker 1: up sell? Are you charging more for the tickets? Are
55:23
Speaker 1: you um offering something else as a product? Yeah, so
55:28
Speaker 1: how it works? So our normal ticket price for the
55:31
Speaker 1: theater was twelve dollars. We actually did raise it a
55:35
Speaker 1: dollar fifty. We were open for about two weeks this summer.
55:37
Speaker 1: That's it. Our drive in ticket is thirty five dollars,
55:41
Speaker 1: which includes two people and two concession items m because
55:45
Speaker 1: we wanted to be sure that we could sell our concessions.
55:48
Speaker 1: And then extra people are five dollars, so that that
55:51
Speaker 1: makes the ticket price about twelve fifty so it's about
55:54
Speaker 1: the same as inside the theatern it. And I have
55:58
Speaker 1: one last question. I know we have to prea how
56:01
Speaker 1: do you guys deal with like the restroom situation, because
56:06
Speaker 1: that's you know right now, that's been my concern. Yeah,
56:09
Speaker 1: that's a good question. Well, um, our drive in is
56:12
Speaker 1: in the parking lot where our theater is located to
56:14
Speaker 1: Our lobby is open, so people can use the bathroom,
56:17
Speaker 1: but we do have strict rules. You have to wear
56:19
Speaker 1: a mask, you have to sanitize before you go inside,
56:22
Speaker 1: and we only let one person or one family unit
56:26
Speaker 1: in the bathroom at a time. Wow, very smart. So
56:30
Speaker 1: where do people find out what movie you're playing next?
56:32
Speaker 1: And when do Donna and I drive down to see
56:34
Speaker 1: girls just want to have fun. Our website is Tahoe
56:39
Speaker 1: Art House Cinema dot com and has listing of all
56:41
Speaker 1: our upcoming drive in movies and advanced tickets are required,
56:45
Speaker 1: so you can purchase tickets there and we welcome suggestions
56:48
Speaker 1: for movies, so anyone can email us and say, hey,
56:51
Speaker 1: I have a great idea perfect I love that so
56:54
Speaker 1: fun and such a good idea, so fun. Yeah, people
56:58
Speaker 1: seem to be enjoying it. They of like the nostalgia.
57:01
Speaker 1: People feel safe outside and in their cars, and it's
57:05
Speaker 1: something for the whole family to do. Totally. Well, thank
57:08
Speaker 1: you so much for joining us, Thanks for having me,
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Speaker 1: Bye bye. Wow. I learned so much today, Donna, did
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Speaker 1: you It was beyond I feel like I'm in school.
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Speaker 1: I feel like one. I need to immediately, like get
57:25
Speaker 1: on my all in boxer chains and start going to
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Speaker 1: town some more changes. But guys, I truly think that
57:31
Speaker 1: this is so huge. Whether you're have a business right
57:34
Speaker 1: now that's successful, or you're thinking about starting a business,
57:37
Speaker 1: or you have a business that's struggling. The word of
57:39
Speaker 1: the day was pivot, and another thing that every single
57:43
Speaker 1: person said was listen. Now is the time to listen.
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Speaker 1: Listen to your audience, Listen to the people you follow
57:51
Speaker 1: on Instagram, ask questions, lean in and really figure out
57:55
Speaker 1: what the people want and how you can help them.
57:58
Speaker 1: Because if you're helping somebody, it's going to light that
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Speaker 1: fire inside of you and you're gonna want to make
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Speaker 1: bigger changes. Um, Donna, I you are helping people make
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Speaker 1: such big changes. Where do they find more information from you?
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Speaker 1: Thank you so much. Um, well, I live on Instagram.
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Speaker 1: I'm there all day long, all the time. It's at Donna,
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Speaker 1: which is spelled d A n A at Donna dot
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Speaker 1: coaching or Donna Bowling dot com. Well, thanks you guys
58:26
Speaker 1: so much. I thank you for listening to Teddy te
58:28
Speaker 1: Pod this week and send us in an email and
58:31
Speaker 1: let us know next topics you want us to talk about.
58:33
Speaker 1: Thanks for listening. Subscribe to Teddy t Pod on I
58:36
Speaker 1: Hear Radio or wherever you listen to podcasts.