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Study Hall: Keys to Build a Business · Earn Your Leisure

0:00
Speaker 1: Coach, the energy out there felt different. What changed for
0:03
Speaker 1: the team today?
0:03
Speaker 2: It was the new game day scratches from the California
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Speaker 2: Lottery players.
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Speaker 3: Everything.
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Speaker 4: Those games sent the team's energy through the roof.
0:09
Speaker 1: Are you saying it was the off field play that
0:11
Speaker 1: made the difference on the field, Hey.
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Speaker 5: Little play makes your day, and today it made the
0:16
Speaker 5: game that's off of now, Coach one more question.
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Speaker 1: Play than new Los Angeles Chargers, San Francisco forty nine
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Speaker 1: ers and Los Angeles Rams scratchers from the California Lottery.
0:25
Speaker 1: A little play can make your day. Peace made responsibily.
0:28
Speaker 1: Must be eighteen years or older to purchase late or.
0:29
Speaker 6: Claim eyl University is the biggest online platform for education,
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1:00
Speaker 6: go to eyl university dot com right now and take
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Speaker 6: advantage of our limited offer blowout sale sixty five percent
1:07
Speaker 6: off of the annual membership Eyo University dot com right
1:10
Speaker 6: now and become an earner.
1:14
Speaker 7: My graduates from my school being forced back drop drop,
1:19
Speaker 7: Mike drop back drop drop.
1:32
Speaker 2: It's all it's building up, but the momentum keeps going.
1:35
Speaker 2: How do you guys feeling about that? It's all good, bro,
1:39
Speaker 2: all word now, put me in that headspace for real.
1:41
Speaker 2: It's like that's insane because you know it's coming together,
1:46
Speaker 2: Like is it just a blur or you guys, I
1:49
Speaker 2: mean you guys just staying on a day by day
1:51
Speaker 2: or do you get a chance to even look at
1:53
Speaker 2: it like a month out, like what's what's that mindset?
1:56
Speaker 3: Like? Now? You know what, bro?
1:58
Speaker 6: You know, you don't really even get a instantially think
2:00
Speaker 6: about it too much when you when you're actually in it.
2:06
Speaker 6: And that's what we you know, we just try to
2:08
Speaker 6: just keep our heads down and just keep working. So
2:11
Speaker 6: you know, it's but it's it's dope, man, it's dope
2:13
Speaker 6: to just be out here. It's just really just like
2:15
Speaker 6: you said, it just feels like the momentum is just
2:17
Speaker 6: building and building and building is just getting stronger and
2:20
Speaker 6: stronger every day, day by day.
2:22
Speaker 2: So you know what's cool too, I bet you, I
2:27
Speaker 2: bet you. The type of deal flow that you guys
2:28
Speaker 2: are seeing is also getting crazy, right because I would
2:33
Speaker 2: imagine you know, you guys having a media platform so
2:37
Speaker 2: interesting because media is cross sector, right, like you can
2:41
Speaker 2: you can amplify any industry with media because you got
2:44
Speaker 2: the people behind you. So in that sense, I can't
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Speaker 2: help but to think of all the different you know,
2:51
Speaker 2: and of course there's prioritization, like there's only so many things,
2:54
Speaker 2: you know that can be done at a time. But
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Speaker 2: from n f T you know, to all kinds of plays, man,
3:02
Speaker 2: it's there, it's there. Excited for you guys.
3:04
Speaker 3: Appreciate it. Appreciate it. Appreciate it.
3:07
Speaker 6: Likewise, man, I know you're building a billion dollar company, so.
3:10
Speaker 2: Appreciate you're We're focused, man, We're focused. And on that note,
3:16
Speaker 2: welcoming folks into the season finale of the Well Principles.
3:20
Speaker 2: This has been an experiment, a John experiment, you know,
3:26
Speaker 2: like let me riff openly here, So an experiment because
3:33
Speaker 2: what we have is one second may check check, okay, cool.
3:40
Speaker 3: What we have is.
3:43
Speaker 2: Any anyone that has a product has to figure out
3:46
Speaker 2: different ways that they can bring it out to the market.
3:49
Speaker 2: And one of the efficiencies that you can deploy if
3:54
Speaker 2: you know how to create media, is to build your
3:57
Speaker 2: own organic media. But see, here's the thing that shit
4:00
Speaker 2: takes time. It should takes, and there's a long tail
4:06
Speaker 2: and off time. You just have more immediate pressures. So
4:10
Speaker 2: what do folks resort to when they have that immediate pressure. Well,
4:13
Speaker 2: a lot of times they'll get sold by agency. They
4:16
Speaker 2: might try some ads and that shit is cool, but
4:19
Speaker 2: the moment you stop spending, it goes away. Right. So ironically,
4:25
Speaker 2: the shit that's harder to build is also the shit
4:27
Speaker 2: that is perhaps not surprisingly, shit that's hard to build
4:31
Speaker 2: is also harder for it to go away. You can
4:35
Speaker 2: liken that to a stock portfolio. I'm sure the trapper
4:38
Speaker 2: would agree. The stocks that have less volatility, you build
4:42
Speaker 2: a bigger base of those, and it's yielding you know,
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Speaker 2: dividends and you know the goal of course from a
4:49
Speaker 2: wealth perspective is to get to the point where you
4:51
Speaker 2: have enough principle invested. You got five million dollars and
4:55
Speaker 2: you're earning you know, three percent off of that, then
4:58
Speaker 2: you're making an annual salary, and you make one hundred
5:01
Speaker 2: and fifty grand. You don't even have to touch your principle,
5:03
Speaker 2: and then the principle can continue growing. But now what's
5:06
Speaker 2: interesting is my journey with this idea of building wealth
5:10
Speaker 2: has really evolved, has been fluid. At some point, I
5:14
Speaker 2: was over index on stocks, y'all want to go hard
5:17
Speaker 2: as stocks. I discover private investments. Okay, cool man. I
5:22
Speaker 2: like real estate, a little cash flow, YadA YadA. But
5:28
Speaker 2: at some point you got to lean into your strengths.
5:29
Speaker 2: And what I figured out is that I'm a fucking
5:31
Speaker 2: like I like making shit, and when you make some shit,
5:35
Speaker 2: you can sell it too. And this is a whole
5:37
Speaker 2: way of wealth as well, where you can create a
5:40
Speaker 2: company that just rises a tremendous value and then you
5:45
Speaker 2: can create a liquidity event, much like Richelie with Dennis
5:48
Speaker 2: from Shaye Moisture, who sold Sundow Brands. He built that
5:51
Speaker 2: shit out the mud Booststrap selling in Harlem in the
5:56
Speaker 2: nineties and he had a billion dollar exit and then
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Speaker 2: he was able to invest in others and create a
6:01
Speaker 2: fun and so on. So a lot of paths is
6:04
Speaker 2: the point. A lot of paths are you want to
6:07
Speaker 2: hold down a job and you want to invest in
6:09
Speaker 2: stocks and grow your portfolio patiently over time you will
6:14
Speaker 2: get rich as well. Do you want to go all
6:18
Speaker 2: the fucking on one particular idea and not like, not
6:24
Speaker 2: deviate until you pop off as an artist, for example,
6:28
Speaker 2: that's also a path. And guess what, A lot of
6:31
Speaker 2: these motherfuckers in corporate don't make half as much money
6:34
Speaker 2: as a lot of these rappers now, but there is
6:37
Speaker 2: a tier that make a lot more than rappers. And
6:40
Speaker 2: of course you wouldn't know because you know the way
6:42
Speaker 2: they dress it whatever. But still I find entertainment an
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Speaker 2: incredibly viable path to generate in mad money because when
6:52
Speaker 2: you when your image and likeness becomes valuable, the music
6:58
Speaker 2: is but a platform to presuserve and maintain your reach
7:04
Speaker 2: and your relevance in the culture. When I was on television,
7:09
Speaker 2: my ideal flow skyrocketed. Not because of me. I was
7:13
Speaker 2: just a messenger, but I was on Vicelands airwaves, and
7:18
Speaker 2: so a lot of brands and a lot of speaking
7:19
Speaker 2: deals and a lot of opportunities was coming my way.
7:22
Speaker 2: During that time. I probably made three three, four hundred
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Speaker 2: grand justin speaking, I only got to paid thirty grand
7:31
Speaker 2: for the show, but the speaking volume elevated, so you
7:36
Speaker 2: can go that way. I think that's very viable. And
7:40
Speaker 2: so anyways, a lot of ways to skin it. I
7:42
Speaker 2: love the way you guys are going about it. Personally.
7:45
Speaker 2: I think Earn your Leaders actually very interest I see.
7:49
Speaker 2: I never thought about it from like, you know, like
7:51
Speaker 2: we're boys, so like it's like, yo, it's my homie.
7:54
Speaker 2: They're popping off. But now if I would have just
7:56
Speaker 2: put on like my my investor had and say, wow,
7:59
Speaker 2: this is an interesting and this is an interesting deal,
8:02
Speaker 2: right because because what you guys have created in terms
8:07
Speaker 2: of the value are owned properties. You guys have your
8:12
Speaker 2: main show is owned. It was cultivated and grown over time,
8:17
Speaker 2: so it's not over reliant on any one partnership or
8:20
Speaker 2: distribution channel.
8:22
Speaker 3: Is owned.
8:23
Speaker 2: But in addition to that, right I know is I'm
8:26
Speaker 2: practitioning now at Loop and looking to penetrate audiences, and
8:29
Speaker 2: I realized, Wow, earn your leisure effectively as a result
8:34
Speaker 2: of the guests that you guys have interviewed in an
8:36
Speaker 2: authentic fashion, have become the aggregation of the category that
8:43
Speaker 2: is urban economic empowerment right, which that's what you can
8:48
Speaker 2: call what you want, but it's in the cultural zeitgeist.
8:52
Speaker 2: It's in the zeitgeist. And EYL has because.
8:57
Speaker 3: Sounds bringing out the dictionary. Today you.
9:01
Speaker 2: Have pulled out all the most interesting relevant people in
9:05
Speaker 2: this theme and have a nurtured your own audience. But
9:09
Speaker 2: be all you while you were at it, have brought
9:12
Speaker 2: in collective audiences.
9:14
Speaker 3: So now.
9:17
Speaker 2: M hm, that's very valuable. From that can come I P.
9:26
Speaker 2: From that can come i P. You can start creating.
9:29
Speaker 2: If you wanted fictional shows, this might be an interesting play.
9:31
Speaker 2: I would bring on a fucking illustrator and create, you know,
9:35
Speaker 2: tips about building well in.
9:37
Speaker 3: Kids, story for me about everything top secret.
9:39
Speaker 2: John okay, okay, boom. And then you have that's ip.
9:46
Speaker 2: You can create assets that become licensable and you know,
9:51
Speaker 2: in the form of books and so on, NFTs of
9:54
Speaker 2: course whatever. I get excited about any and all things business.
9:57
Speaker 2: That's why on today's episode Old we are going to
10:02
Speaker 2: do straight Q and A. We got like fifty questions.
10:05
Speaker 2: Some are trash, some are heat and I figure we
10:09
Speaker 2: just go through them h and just riff on the
10:12
Speaker 2: ones that are the most fun, the ones that catch
10:14
Speaker 2: our attention.
10:15
Speaker 8: All right, you want to you want to stop, I'll
10:17
Speaker 8: read off the first one. How was that, yes, sir?
10:20
Speaker 2: And just feel free if you think it's wat you
10:22
Speaker 2: just feel free and look through there's a lot that are.
10:24
Speaker 3: Yeah, I'm gonna come through them. I'm gonna come through them. Man.
10:26
Speaker 3: Then we can kind of mix it up with throwing
10:28
Speaker 3: some zoom questions. We got.
10:32
Speaker 2: For sure, like I would prefer the zoom questions, but
10:35
Speaker 2: we always also have these that we.
10:37
Speaker 3: Could Yeah, for sure, let's do it. Let's do it
10:39
Speaker 3: all right.
10:39
Speaker 8: So uh, top of the list says is outside funding
10:42
Speaker 8: absolutely necessary to scale?
10:45
Speaker 2: Man, did you guys take in any Brad when you
10:48
Speaker 2: start your leisure?
10:49
Speaker 3: Absolutely?
10:51
Speaker 2: Man? How many boso ask media companies out there, no disrespect,
10:57
Speaker 2: but how many boso ass media companies don't raise a
10:59
Speaker 2: ton the money and tried all these five things that
11:03
Speaker 2: you should do to you know, they came at with
11:04
Speaker 2: the listicals that's what they call them. And they generated
11:09
Speaker 2: prop up traffic, fake traffic, real traffic, but like fake
11:13
Speaker 2: in the sense that it goes away. And yet you
11:17
Speaker 2: guys would know Brad came at it how you came
11:19
Speaker 2: at it. So you know, you guys you guys tell me.
11:24
Speaker 6: I would say, no, you definitely don't need that. It
11:27
Speaker 6: depending on what kind of business. If you have like
11:30
Speaker 6: a you know, a shipping company that's a lot of
11:34
Speaker 6: overhead and you don't have any money. But me personally,
11:37
Speaker 6: I don't think that those are the best kind of
11:38
Speaker 6: businesses to start right now in today's economy. I think
11:41
Speaker 6: online businesses are probably the most practical and the most
11:46
Speaker 6: profitable in a lot of cases.
11:47
Speaker 3: And that's something that we did.
11:49
Speaker 6: You know, our businesses are online business and it's extremely
11:54
Speaker 6: low overhead, So it's something that requires a lot of time,
11:59
Speaker 6: and it's something that does require a skill set, like
12:03
Speaker 6: even editing videos and things of that nature. If you
12:05
Speaker 6: if you don't know how to do it yourself, then
12:07
Speaker 6: you would have to you know, hire somebody do that,
12:09
Speaker 6: or you know, make a deal with somebody where you
12:12
Speaker 6: can give them equity in your company if they perform
12:16
Speaker 6: a service that you might not be able to pay
12:18
Speaker 6: them for upfront. So that's always that's always something as
12:22
Speaker 6: well that you can do. It doesn't necessarily have to
12:25
Speaker 6: be paying somebody if you think that they're that valuable
12:27
Speaker 6: that you can give them equity if they believe in
12:29
Speaker 6: a company and network for free because they know that
12:30
Speaker 6: the payout on the back is gonna be much more
12:34
Speaker 6: than you know, a couple hundred dollars or one thousand
12:36
Speaker 6: dollars that you're going to pay them for their services upfront.
12:39
Speaker 3: So absolutely not.
12:41
Speaker 6: But like I said, obviously it just depends on what
12:43
Speaker 6: kind of property, what kind of business you're starting. But
12:45
Speaker 6: for us our personal experience in starting our business, we uh, yeah,
12:53
Speaker 6: use our own money, which was very little. We didn't
12:55
Speaker 6: even have to spend that much money because it's a
12:58
Speaker 6: it's a low cost operation, especially at the beginning stages.
13:01
Speaker 6: And then we just reinvested the money that's important we
13:05
Speaker 6: invest in, reinvest the money that you make, invest in infrastructure,
13:10
Speaker 6: keep growing it and take it from there.
13:13
Speaker 3: Yeah.
13:13
Speaker 8: I think your best currency, the number one currency when
13:16
Speaker 8: you're trying to scale, is going to be value. Right,
13:18
Speaker 8: So if you add value, even when you're trying to
13:20
Speaker 8: find somebody that that can help you scale, if they
13:24
Speaker 8: see value in it, if they believe in it, the
13:26
Speaker 8: belief will come from the value that you're adding. And
13:28
Speaker 8: so think of that first, what value am I adding?
13:31
Speaker 8: And then figure out what you need, because you might
13:34
Speaker 8: not need anything right, you can start with what you are.
13:36
Speaker 8: I always say that start where you are, do what
13:37
Speaker 8: you can, and let's see where you can go. So yeah,
13:40
Speaker 8: the value add is the most important thing. I think
13:42
Speaker 8: in scaling right, we had a platform, we add value
13:45
Speaker 8: with information. People came, things came after that, But the
13:50
Speaker 8: number one thing was like, let's do something that is disruptive.
13:53
Speaker 8: Let's do something that is valuable to not only our
13:56
Speaker 8: community but the world, and the benefits will come after
13:59
Speaker 8: my money in.
14:00
Speaker 3: That was our model. All money and stay down to
14:02
Speaker 3: you come on all money and no money out. That's it.
14:06
Speaker 2: Easier said than done, but I can I concur I
14:10
Speaker 2: think outside funding not not necessary to get started, not necessary.
14:18
Speaker 2: But it's interesting because yeah, such a small percentage of
14:24
Speaker 2: businesses do get it. And one thing that I've noticed
14:27
Speaker 2: is like, man, this record with se You know, I'm
14:35
Speaker 2: not sure how how much you guys have cover SPACs
14:38
Speaker 2: on y L. But a SPAC is a special purpose
14:43
Speaker 2: acquisition company that effectively has gamified the I p O.
14:50
Speaker 2: The illustrious elusive. There is mad scrutiny, request fired to
15:00
Speaker 2: enter the public markets. Sorry I broke a couple of bit.
15:04
Speaker 2: There's mass scrutiny required to enter the public markets. You
15:07
Speaker 2: got to deal with bankers, you got to deal with
15:08
Speaker 2: solvency requirements and so on, and so you know, true
15:12
Speaker 2: to capitalists, they created some shell company that can acquire
15:17
Speaker 2: a company that's trying to go public. Effectively, they take
15:21
Speaker 2: the shell company public and then the company that they
15:24
Speaker 2: acquired goes with them, and then it's listable on the
15:26
Speaker 2: IPO and you bypass the speculation. Bhi lah. So anyway,
15:33
Speaker 2: with the SPACs, a lot of companies I've gone to public.
15:35
Speaker 2: One thing I've noticed so is that this record wave
15:37
Speaker 2: of liquidity that these IPOs create, all these investors that
15:41
Speaker 2: got in all the way throughout the private trajectory of
15:45
Speaker 2: the company made a ton of bread. They all got rich,
15:49
Speaker 2: early employees, rich founders, rich vcs rich, growth stage equity rich,
15:59
Speaker 2: and the multiples get smaller the bigger you all are.
16:04
Speaker 2: But they write bigger checks. So the angel only needs
16:07
Speaker 2: to write twenty five k for it to pop off
16:09
Speaker 2: or for them to make a fortune. But if you're
16:11
Speaker 2: invested in the growth stage equity, you write a fifty
16:15
Speaker 2: million dollar check and you might get a three x.
16:17
Speaker 2: And guess what when you form a cap table. Right,
16:20
Speaker 2: I'm a founder, I'm at the beginning of LOUP. Then
16:23
Speaker 2: come my seat investors, then come to Series A investors,
16:25
Speaker 2: and this is what's called the capital stack, the cap stack,
16:28
Speaker 2: and then every investor on the top of the stack
16:31
Speaker 2: they have their preferences, so they get what's called the
16:32
Speaker 2: liquidation preference. So when money pops off in the exit
16:37
Speaker 2: later in stage whoop, they go first, and then everyone
16:39
Speaker 2: goes and then the founders get paid. So anyway, all
16:43
Speaker 2: that to say that I want to encourage also people
16:48
Speaker 2: of color out there. You don't need money to get started,
16:51
Speaker 2: but get good enough that you can fucking raise money.
16:54
Speaker 2: Get good enough, know your shit cold cold, tell your store,
17:00
Speaker 2: package it up, get some fucking swag, right, make terms up,
17:05
Speaker 2: make terms up. I'm serious, take your business and just
17:09
Speaker 2: imagine a fucking term and say, you know what, eyol
17:12
Speaker 2: is the biggest show on fucking earth, right, like you
17:14
Speaker 2: guys made that up, brought it out people you know,
17:18
Speaker 2: and and that storytelling. So founders out there is so please.
17:23
Speaker 2: It is so much less science. The information is out there,
17:27
Speaker 2: consume it and fucking learn it. But it's cost of entry.
17:30
Speaker 2: After that, it's swaged. The salesmanship is vision is creativity.
17:37
Speaker 2: It's motivating people. You gotta get them excited. You have
17:39
Speaker 2: to reorganize the ingredients that are already there to make
17:42
Speaker 2: a little bit of a different outcome. That's what entrepreneurship is.
17:48
Speaker 2: Stop trying to overprescribe it. You know, we got that
17:51
Speaker 2: in the culture already. You're gonna tell me that a
17:54
Speaker 2: bunch of these white cats with no swager out there
17:56
Speaker 2: getting the bulk of the bag. Come on, man, like,
18:03
Speaker 2: get sharp so that never becomes a bottleneck. Get sharp,
18:08
Speaker 2: laser fucking razor, and then they can never deny you
18:12
Speaker 2: all merrit And then we had the swag on top,
18:18
Speaker 2: so you don't need it, but get good enough that
18:20
Speaker 2: you can get it, and then.
18:22
Speaker 3: The swag is sold separately. That's something that didn't.
18:27
Speaker 8: Like.
18:27
Speaker 3: Jo.
18:27
Speaker 8: We gotta get you know, you know your ship shirt?
18:30
Speaker 8: I like that. That's your phrase, Bro, You gotta gotta
18:35
Speaker 8: Can I go to one?
18:37
Speaker 3: Well? We got all right. Let's see, Anthony, we got
18:40
Speaker 3: coming to you. You yourself. You've been unmuted. Go ahead,
18:47
Speaker 3: what's going on? Anthony?
18:54
Speaker 4: Can you hear me? My brother perfectly? What's going on?
18:57
Speaker 4: All good man? I just met you Brothers on Tuesday.
18:59
Speaker 5: Man, it was real you a real good energy at
19:02
Speaker 5: the l A little mixing situation, man, I appreciate y'all.
19:05
Speaker 6: Yeah, speak about that if anybody's not familiar. We got
19:08
Speaker 6: a private networking event for E y L University in
19:12
Speaker 6: LA and everybody showed up him five hundred, Alex God Energy, Shiggy,
19:19
Speaker 6: Mike Rashie, business business. It was a whole vibe. So
19:24
Speaker 6: how'd you how'd you enjoy it?
19:25
Speaker 5: Oh yeah, Anthony Walker was in the building too, so
19:27
Speaker 5: that was a major situation.
19:30
Speaker 3: How the most important we were getting there.
19:33
Speaker 4: Yeah, but I enjoyed it, like I really did enjoy it.
19:36
Speaker 5: I think that you guys just credited a whole nother
19:40
Speaker 5: like I think post COVID is a whole nother thing
19:43
Speaker 5: that's going to be able to happen for y'all. You
19:45
Speaker 5: know what I'm saying. Where you gonna really get a
19:46
Speaker 5: chance to touch the people. Man, that's the most important thing,
19:49
Speaker 5: I think. And that's where you build that deep value.
19:52
Speaker 5: You know what I'm saying, You build deep you know,
19:54
Speaker 5: going y'all going deep. And I see that. So I
19:56
Speaker 5: appreciate y'all for that. Man, It's a real beautiful play.
20:00
Speaker 5: I appreciate you, yes, sir, But my question, man, is
20:04
Speaker 5: for both of you or both you know, both all
20:07
Speaker 5: three of y'all, But so both of your businesses all
20:10
Speaker 5: have a subscription based model to it, you know what
20:13
Speaker 5: I'm saying. And that's a real interesting business model, and
20:18
Speaker 5: to me it seems like the best business model going
20:20
Speaker 5: forward because you guys, just talk to me why that
20:23
Speaker 5: is and or compare that to other business models that
20:28
Speaker 5: you know what I'm saying that you either see that
20:29
Speaker 5: are popular or that that that might be strong going forward.
20:33
Speaker 6: Yeah, for sure. So I mean for us, we have
20:36
Speaker 6: a couple of different business models. So we have some
20:39
Speaker 6: products like merch. By the way, the merch we have
20:42
Speaker 6: a fifty percent off of our merch for all winter.
20:46
Speaker 6: Yeah so e y l U fifty uh and you
20:50
Speaker 6: get fifty percent off of all merch. That's winter speaking,
20:54
Speaker 6: perfect segue. But yeah, we have we have items like merch,
20:57
Speaker 6: which is one off that's not obviously that's not a subscription.
21:01
Speaker 6: But yeah, EYL University because that's a recurring thing. So
21:04
Speaker 6: it's like another ending story where that's something that we
21:07
Speaker 6: constantly do.
21:08
Speaker 3: It's like a it's school.
21:09
Speaker 6: So it's just like you go to you know, college,
21:11
Speaker 6: you go to freshman year, sophomore year, junior year. So
21:14
Speaker 6: for us, I mean we do both ways as far
21:17
Speaker 6: as like, if we do an event, that'll be a
21:19
Speaker 6: one off, If we do merch that'll be a one off.
21:23
Speaker 6: If we write a book that's a one off. But
21:27
Speaker 6: Eyo University that's like an ongoing subscription. So I think
21:30
Speaker 6: both ways can work. But of course the subscription is
21:34
Speaker 6: always good because it's reoccurring, and as long as you
21:40
Speaker 6: can continue to add value, then people will continue to pay.
21:44
Speaker 6: That's what business is all about, right, People pay for value.
21:47
Speaker 6: So it's like you pay nine to ninety nine or
21:49
Speaker 6: whatever it is for Netflix every single month, and as
21:53
Speaker 6: long as you're satisfied if what Netflix is providing, you're
21:58
Speaker 6: you're going to continue to pay it. If for whatever,
22:01
Speaker 6: you become dissatisfied at the service that Netflix is providing,
22:04
Speaker 6: you're going to cut the cord and cancel your service.
22:06
Speaker 6: So I think it's the same no matter what it is,
22:08
Speaker 6: whether it's car insurance, whether it's education, whether it's entertainment.
22:13
Speaker 6: If you can consistently add value on an ongoing basis,
22:19
Speaker 6: then the business model is there for that. And like
22:23
Speaker 6: I said, the good thing with subscription based services or
22:26
Speaker 6: subscription based business models is that you can do it
22:29
Speaker 6: in all different things. You can do it in makeup
22:31
Speaker 6: and where they get like packages in the mail every month.
22:34
Speaker 6: You can do fitness where that's where you know if
22:37
Speaker 6: you go to a gym right or if you're online,
22:39
Speaker 6: you know you're paying whatever the fee is every single month.
22:43
Speaker 6: So yeah, it's a way to build a book of business.
22:47
Speaker 6: And really at that point in time, your main focus
22:51
Speaker 6: as a business owner is just to provide as much
22:54
Speaker 6: value as possible to your community. So me, like I
22:56
Speaker 6: used to be, I'm still in the financial services world.
22:59
Speaker 6: So one of the things it's like, if you're making
23:01
Speaker 6: a living off of commission, like a life insurance product
23:03
Speaker 6: or whatever, the thing about it is that you might
23:06
Speaker 6: have a good sale, you make some money, but now
23:08
Speaker 6: you start back at zero, So now you got to
23:10
Speaker 6: go back out and do it all over again. Whereas
23:14
Speaker 6: if you if you have a subscription model, or if
23:17
Speaker 6: you're getting paid annual revenue that comes in, you can
23:21
Speaker 6: focus more attention on your actual clients and actually just
23:26
Speaker 6: making the experience as good as possible for them. Because
23:31
Speaker 6: new people come into the fold, but your whole focus
23:34
Speaker 6: isn't on just attracting new people. It's actually just building
23:39
Speaker 6: and broadening. So that's why we did the free networking
23:41
Speaker 6: event in la and that's why we're going to do
23:43
Speaker 6: one in Atlanta because it's like we just always just
23:45
Speaker 6: constantly just try to add as much value as you
23:48
Speaker 6: possibly can. So that's another value that I think, you know,
23:51
Speaker 6: business owners have. It's less pressure to try to get
23:56
Speaker 6: new people. You can continue just to add value to
23:59
Speaker 6: the community as much as you possibly can.
24:01
Speaker 8: Yahn, I was gonna say that point, but like it
24:04
Speaker 8: goes back to the first question, right, how do we
24:06
Speaker 8: build something that's scalable? And when the first thing I
24:08
Speaker 8: said was value, right, And so as a creative and
24:11
Speaker 8: as a business owner, having a subscription service.
24:13
Speaker 3: Allows you to add.
24:15
Speaker 8: And that's the thing, like, there's so many creative ways
24:18
Speaker 8: to add to the community. And when you added then
24:20
Speaker 8: obviously people are going to want to say because like, wait,
24:23
Speaker 8: we didn't have that last month. This is something new,
24:25
Speaker 8: and so the way you keep it fresh, it's no difference, right,
24:28
Speaker 8: It's no difference from Disney Plus.
24:30
Speaker 3: Saying we're going to add a new show to the network.
24:34
Speaker 8: You can't wait for that show to come because now
24:36
Speaker 8: it's like, wait, we had all this and now you're
24:38
Speaker 8: adding something new to the process.
24:40
Speaker 3: So yeah, exactly what Chatty said.
24:43
Speaker 8: Adding it makes the business more creative because now I
24:47
Speaker 8: have to think of like, what's new, what's fresh?
24:49
Speaker 3: How do we keep this thing fresh? So it keeps
24:51
Speaker 3: us on our toes.
24:51
Speaker 8: It's like, all right, well we've had this for the public,
24:54
Speaker 8: but we have new people coming in and we have
24:55
Speaker 8: some people who've.
24:56
Speaker 3: Been here with us for a while. Let's keep it fresh,
24:58
Speaker 3: Let's keep it new, is keep it funky.
25:00
Speaker 8: And so now the community grows because it's like this
25:02
Speaker 8: is the best place to be got John, that's.
25:05
Speaker 2: Interesting, tro I never thought about it from that perspective,
25:08
Speaker 2: like subscription that keeps you guys like innovating pretty much.
25:12
Speaker 2: So I never thought about it as a driver for
25:15
Speaker 2: mixing it up. And Anthony, I want to say it's good.
25:18
Speaker 2: It's a great question. And one of the real bend
25:26
Speaker 2: based revenues is of course predictability, but also you're able
25:33
Speaker 2: to forecast, and in business, there's a lot of value
25:37
Speaker 2: to being able to forecast and extrapolate outward into the
25:39
Speaker 2: future and once you've been growing your subscription base for
25:42
Speaker 2: long enough, you can also assume a rate of growth. Right,
25:47
Speaker 2: So if you're at a thousand, if you start at fifty,
25:50
Speaker 2: you go up to one hundred, you know you can
25:53
Speaker 2: look and say, yo, all right, bet how many people
25:55
Speaker 2: are we grown by every month? And then you can say,
25:57
Speaker 2: all right, assume that growth keeps happening. What's going to
26:02
Speaker 2: be our revenue by year one? Let's say. Now you
26:05
Speaker 2: may not hit that. You may succeed it, you may not.
26:08
Speaker 2: But the point is there's value in being able to forecast.
26:12
Speaker 3: So I like that.
26:13
Speaker 2: But one off sales allow you to diversify your revenue mix.
26:21
Speaker 2: I was overly concentrated when I have my laundry business.
26:24
Speaker 2: You can bet there's such thing as it's called a
26:27
Speaker 2: concentration risk. So you can have mad money coming from
26:30
Speaker 2: one particular account and if you lose that account, it'll
26:33
Speaker 2: fucking rattle you.
26:34
Speaker 3: Right.
26:35
Speaker 2: So when I saw my laundry business, I was cleaning
26:38
Speaker 2: the wardrobe for big movies. I found my way into
26:41
Speaker 2: the Wolf of Wall Street, big movie, got that account,
26:44
Speaker 2: and they say, yo, I was eighteen years old, man,
26:46
Speaker 2: that's crazy. It was like, Yo, there's a new account
26:50
Speaker 2: in town. If you get them, you're gonna be all
26:51
Speaker 2: right for a while. That was Bordwalk Empire. He said,
26:54
Speaker 2: I'm gonna make the introduction that it's on you. I
26:57
Speaker 2: was able to enagle it. While you have that account,
27:01
Speaker 2: go and try and sell others. Point is, I had
27:04
Speaker 2: most revenues coming from maybe four accounts, and I lost
27:07
Speaker 2: one of them, and it fucking rocked us. You know,
27:10
Speaker 2: I didn't have the money that I needed to build
27:13
Speaker 2: off of it. So you can have concentration risk in
27:16
Speaker 2: the amount of customers that you have your revenue coming from.
27:19
Speaker 2: You can also have concentration risk in having all of
27:22
Speaker 2: your money coming from one particular line of business in
27:26
Speaker 2: the overall, like call it umbrella company. So I like
27:30
Speaker 2: the fact that, for example, Eyl's diversity, you got some
27:33
Speaker 2: merch it's quicker hit, it's more of aluminus. So you
27:35
Speaker 2: drive volume. And here's a cool thing. You can sell
27:38
Speaker 2: your one off products. Right, that's the one dollar burger
27:42
Speaker 2: and then McDonald's makes some moneys on the fries and
27:44
Speaker 2: the shake, right, So you need a little bit of
27:47
Speaker 2: a lost leader product that's low costs and even potentially
27:51
Speaker 2: low margin for you. You may not even make money on it,
27:53
Speaker 2: but you get them into your ethos and then you
27:55
Speaker 2: can pass off the subscription service after they've consumed some
27:59
Speaker 2: content for you Sai, Yeah, I fuck with these guys. Boom.
28:02
Speaker 2: Then you have the sub So you're thinking the right way.
28:06
Speaker 2: But also don't forget to, you know, incorporate different things
28:10
Speaker 2: in your business that can make the whole machine work,
28:11
Speaker 2: because you kind of need a system.
28:13
Speaker 8: Yeah, John, you said something that was really important and
28:15
Speaker 8: I actually just thought of it, especially when you're doing
28:18
Speaker 8: a subscription model. There's something called the rate of retention.
28:21
Speaker 8: And so when you see the rate of retention, you
28:23
Speaker 8: can see based on when somebody joined and to when
28:27
Speaker 8: they hopefully never left. But it tells you what's been
28:29
Speaker 8: working for the company, and you can see what, you know,
28:32
Speaker 8: what I mean, what content.
28:34
Speaker 3: Worked, was there sale that worked? And so you get
28:37
Speaker 3: all those data points.
28:39
Speaker 8: Whereas if somebody comes and they go, it's like, all right,
28:41
Speaker 8: they supported us one month.
28:42
Speaker 3: What happened to that person?
28:44
Speaker 8: Right, So it gives you like an inventory based on
28:46
Speaker 8: your business of strategies and assessments of all right, that
28:49
Speaker 8: worked for us, we can continue doing that.
28:51
Speaker 3: That's another good thing to keep in mind for ship.
28:54
Speaker 2: Yo, Anthony, appreciate you. Bro.
28:57
Speaker 8: All right, I'm gonna go to Darlene because she's saying
28:59
Speaker 8: she doesn't know how to talk.
29:01
Speaker 3: Darling, you've been permitted. What's going on?
29:09
Speaker 8: Gotta learn that's how you do it.
29:15
Speaker 4: Gosh, yay, thank you.
29:17
Speaker 9: I'm so glad it worked. Thank you all for this session.
29:23
Speaker 9: I'm just loving every minute of it. It's very timely too,
29:27
Speaker 9: because I am entertaining my first opportunity to join as
29:35
Speaker 9: a limited partner in of enter Capital rais and of
29:42
Speaker 9: course there's lots of nerves that go into that in
29:44
Speaker 9: terms of what my process should be to evaluate whether
29:48
Speaker 9: or not this is worth my capital, and to evaluate
29:52
Speaker 9: the sponsor versus the project. And I wonder if you
29:56
Speaker 9: might be able to just give me some nuts and
29:59
Speaker 9: bolts as a potential limited partner of what I should
30:02
Speaker 9: be looking for.
30:04
Speaker 2: Beautiful question. I'm really glad you joined. And also, by
30:07
Speaker 2: the way, I don't want to breeze past that you're
30:11
Speaker 2: even in a position where you people can come up
30:14
Speaker 2: to you and ask you for investment and you can
30:16
Speaker 2: reasonably consider the option. So kudos because that means the
30:21
Speaker 2: reel bread set aside, and that you now have the opportunity,
30:25
Speaker 2: and that's what I think people miss is like just
30:29
Speaker 2: having the opportunity to go in or pass, is you know,
30:35
Speaker 2: really what our community should be striving for. Additional question
30:42
Speaker 2: parity when you say LP in a venture capital raise,
30:46
Speaker 2: is are you evaluating investing directly in a startup or
30:49
Speaker 2: are you evaluating investing a fund or? Towards the end,
30:53
Speaker 2: you had said sponsoring projects, And that's terminology that's more
30:55
Speaker 2: commonly used in real estate projects, like development projects. So
30:58
Speaker 2: are you my might you also be referring to a
31:01
Speaker 2: real estate project? Can you?
31:03
Speaker 9: Well? I'm actually I'm I'm choosing between two opportunities.
31:08
Speaker 3: One is a.
31:11
Speaker 9: Fund event, a fund in for cannabis business, and one
31:19
Speaker 9: is a syndication, a real estate syndication.
31:23
Speaker 2: There you go, got it.
31:25
Speaker 9: So the real estate syndication I'm more comfortable with because
31:30
Speaker 9: it's it's just seems more straightforward, you know, you look
31:32
Speaker 9: at your sponsor and all of that. It's more the
31:36
Speaker 9: vents or capital fund for the cannabis business that I'm
31:41
Speaker 9: a little bit not sure how to assess.
31:45
Speaker 2: Got you got? Do you have any do you have
31:46
Speaker 2: any real estate deals yet? Or do you have any
31:48
Speaker 2: deals of any kanyet like syndications, Yeah, anything, you got stocks,
31:55
Speaker 2: you got real estates that you're own your own.
31:57
Speaker 9: Oh yeah, so I have some style. I have two
32:01
Speaker 9: rental properties, and so this would be kind of my
32:06
Speaker 9: first deal. That's not something that I'm directly doing.
32:10
Speaker 2: Got you, got you okay back? So now I have
32:13
Speaker 2: the info. Wow, congrats against you have set yourself up
32:18
Speaker 2: and I know that comes with tremendous effort and hard work.
32:21
Speaker 2: So I really commend you for that.
32:22
Speaker 9: Thank you, E y L. They got me on fire
32:24
Speaker 9: since last year. This is all these brothers are doing
32:30
Speaker 9: it for us. They're getting us on fire.
32:33
Speaker 3: So I'm gonna give you your.
32:34
Speaker 8: Kudos, information, all thus applications on you. I appreciate you, yo.
32:39
Speaker 2: So check this out. So now this is wonderful because
32:42
Speaker 2: that context was really helpful because the answer changes depending
32:46
Speaker 2: on your situation. Right, Like like if you if you
32:50
Speaker 2: just got a little bit of bread, then investing in
32:53
Speaker 2: a syndication or in a VC fund is mad risky
32:57
Speaker 2: and not the best building block. But you've gone and
32:59
Speaker 2: build to building blocks of securities that are publicly traded,
33:02
Speaker 2: that are highly liquid. You can exchange them at any
33:04
Speaker 2: time for cash. And then you have some illiquid assets
33:08
Speaker 2: that can hedge against the market. It's volatility is providing
33:12
Speaker 2: you now with straight cash flow, and it's kind of
33:16
Speaker 2: good that it's not liquid, because in liquid assets have
33:19
Speaker 2: less volatility. So now you have an attractive portfolio construction.
33:24
Speaker 2: And now you have the opportunity as a third rung. Right,
33:28
Speaker 2: so first rung secured, next run liquid but also secure.
33:32
Speaker 2: And now this third rung you can start considering some
33:35
Speaker 2: riskier situations, some situations where you're not in control. You're
33:40
Speaker 2: an LP to the viewer out there, a limited partner
33:43
Speaker 2: limited partner why because you're a partner in the deal. However,
33:47
Speaker 2: your risk is exposed. Your risk is really only what
33:50
Speaker 2: you've put into the deal, so you can only lose
33:53
Speaker 2: what you've put up.
33:55
Speaker 3: Cool.
33:56
Speaker 2: However, typically when you're in LP, you're indemnified from any
34:00
Speaker 2: operational risks, So that business goes bankrupt, that business gets sued,
34:05
Speaker 2: any of that. It's on the GP, the general partner
34:08
Speaker 2: who is out there helming up the deal. You just
34:10
Speaker 2: lose your money and you're all good. Now. Similarly, that
34:14
Speaker 2: doesn't sound good to me. Doesn't sound good. So I
34:17
Speaker 2: started with the BAT part. But now similarly, and by
34:21
Speaker 2: the way, some people might like that you can lose
34:23
Speaker 2: your bread. But if you only put twenty five racks. Cool,
34:25
Speaker 2: you're out twenty five ratkes. But that was the risk
34:27
Speaker 2: that you took, and of course it'll be a well
34:28
Speaker 2: calculated bet.
34:30
Speaker 3: Now.
34:30
Speaker 2: The one of the other sides as well is you
34:33
Speaker 2: have participation rights, but not you know, any voting interests.
34:39
Speaker 2: Sometimes LPs can negotiate for depending on the power of
34:43
Speaker 2: the LP and the powers associated to the check size.
34:45
Speaker 2: Sometimes LPs can negotiate for voting interests on major liquidation events,
34:52
Speaker 2: for example M and A. If someone's looking to buy
34:56
Speaker 2: or sell the actual assets or the business or whatever,
34:59
Speaker 2: then it's subject to majority of vote from the LP base. Now,
35:02
Speaker 2: more commonly, you only have participation rights. You put money in.
35:07
Speaker 2: The sponsor is looking to guarantee or not guarantee, but
35:11
Speaker 2: suggests that you're going to have a fixed return eight percent, right, okay, cool.
35:16
Speaker 2: So now I've explaining the LP structure. Now we evaluate
35:19
Speaker 2: the two deals you're you're considering between real estate and
35:22
Speaker 2: the cannabis fun that's more VC. By the way, Darlene,
35:26
Speaker 2: there is a reason why you feel more uncomfortable with
35:30
Speaker 2: the VC one because it's a lot riskier, right, And
35:33
Speaker 2: there's a reason why you was like okay, cool, Like
35:35
Speaker 2: real estate I kind of fuck, Like I get you know,
35:37
Speaker 2: I'm already in this field. And that level of discomfort
35:41
Speaker 2: to comfort ratio is directly reciprocal to your returns opportunity
35:45
Speaker 2: as well. Right, So in terms of.
35:49
Speaker 9: The returns to they so the real estate I don't
35:53
Speaker 9: really know how to understand this, right, The internal rate
35:56
Speaker 9: of return the IRR for the real estate one they
35:59
Speaker 9: say is it's like fourteen percent, and the internal rate
36:03
Speaker 9: of return to the cannabis one they're saying.
36:05
Speaker 3: Is like forty to fifty percent.
36:08
Speaker 9: Is that related to.
36:09
Speaker 4: The risk of it?
36:12
Speaker 3: Correct?
36:12
Speaker 2: Because the internal rate of return, which is a little
36:15
Speaker 2: bit more of an elusive metric, but it is effectively
36:19
Speaker 2: your it's like a cash on cash return.
36:22
Speaker 3: Right.
36:22
Speaker 2: But when you use the cash on cash return in
36:25
Speaker 2: real estate, ie, I invested one hundred grand, I got
36:27
Speaker 2: twenty five k back that one year. That's a twenty
36:29
Speaker 2: five k cash on cash. But what cash on cash
36:32
Speaker 2: does not capture is any appreciation, any any and all
36:38
Speaker 2: of the financial benefits other than just dividends. So the
36:42
Speaker 2: ir is are more expansive, comprehensive metric, and that is
36:47
Speaker 2: one hundred percent correlated to risk. So just to keep
36:51
Speaker 2: it simple, right, in real estate, you stand to make
36:53
Speaker 2: less because the risk is less. There's a tangible asset.
36:57
Speaker 2: In the case that some shit goes wrong, you can
36:59
Speaker 2: always just sell the bones, you can sell the building,
37:01
Speaker 2: recoup some capital, and your downside is exposed. In a
37:04
Speaker 2: venture capital fund, those deals can pop off, those deals
37:08
Speaker 2: if you get If that fund manager is fortunate enough
37:11
Speaker 2: to get into a business like a coinbase, for example,
37:13
Speaker 2: they hit one hundred billion IPO best returned into all
37:16
Speaker 2: private capital, everyone's rich right now. You're gonna get into
37:21
Speaker 2: a lot more zero than you are rock stars. But
37:24
Speaker 2: the reason I like a fund personally, as if I
37:27
Speaker 2: were you as an LP, is because a fund their
37:31
Speaker 2: risk is spread across an aggregate of numerous companies. If
37:36
Speaker 2: you were making an investment in a directly in a startup,
37:39
Speaker 2: I would personally, you know, dissuade you from it unless
37:42
Speaker 2: you had startup experience. But investing in a fund manager,
37:46
Speaker 2: I just made an investment of fund myself last week,
37:49
Speaker 2: not a whole lot. You know, I threw them. I
37:51
Speaker 2: threw them, you know, some bread and I said, you'll
37:53
Speaker 2: hold that down.
37:54
Speaker 3: Why did I do that? Right?
37:55
Speaker 2: I evaluate the same opportunity as you, not not the
37:58
Speaker 2: same exact one, but the same type because because I realize, Okay,
38:01
Speaker 2: I like they're good pickers. I trust these people like
38:05
Speaker 2: they got to ie for startups. They're always in the mix,
38:08
Speaker 2: people know them. I just felt like, all right, bet,
38:11
Speaker 2: I'm gonna give you whatever. You can expect your money
38:14
Speaker 2: to triple effectively two to three x over ten years.
38:17
Speaker 2: You can also expect ironically similar returns from venture over
38:21
Speaker 2: the same time period, and Venture is a little bit
38:24
Speaker 2: less risky. So that said, I think that I personally
38:32
Speaker 2: would go with the individuals that you felt the most
38:36
Speaker 2: comfortable with, irrespective of the actual vehicle itself. That is
38:41
Speaker 2: my personal opinion. A lot of times this game comes
38:47
Speaker 2: down to the team behind it. And this is when
38:51
Speaker 2: you know VC's always a team, team, team. But you
38:53
Speaker 2: brought up a perfect case scenario where it makes sense.
38:55
Speaker 2: You're evaluating two potential projects. They're in two potential fields, right,
39:01
Speaker 2: both can work, both can fail. Whatever, which is this
39:04
Speaker 2: set of individuals that kind of makes you feel the
39:06
Speaker 2: most comfortable when you talk to them. You kind of
39:08
Speaker 2: feel like the integrity is tight. You feel like they
39:11
Speaker 2: get back to you in a timely manner. You feel
39:13
Speaker 2: a little bit more you know whomever that team is.
39:17
Speaker 2: If I were in your shoes.
39:20
Speaker 3: Earners, what's up?
39:21
Speaker 8: You ever walk into a small business and everything just
39:23
Speaker 8: works like the checkout is fast, the receipts are digital,
39:27
Speaker 8: tipping is a breeze, and you're out the door before
39:30
Speaker 8: the line even builds odds are they're using Square. We
39:34
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42:10
Speaker 2: I tend to lean on the side of YO. I
42:13
Speaker 2: kind of just fox with them the most. Let me
42:16
Speaker 2: put my money here and watch your play out as
42:18
Speaker 2: long as you can afford to lose it.
42:20
Speaker 3: You know.
42:21
Speaker 2: That's of course always a risk, but that's kind of
42:23
Speaker 2: is my read on the situation.
42:25
Speaker 9: Thank you so much, gentlemen, Thank you, Darlene, Thank yous,
42:29
Speaker 9: jo Yo.
42:30
Speaker 2: Of course, of course, Darlene, Wow, and Dang. I went
42:33
Speaker 2: along on that, but I rarely get to discuss like
42:36
Speaker 2: the fucking mechanics.
42:37
Speaker 6: So if I saw your passionate just now, man, you
42:41
Speaker 6: gotta you gotta, you know, that's John henry Man like,
42:44
Speaker 6: you know, that's something that's extremely valuable information to have
42:48
Speaker 6: somebody that not just in theory, started a venture capital fund,
42:55
Speaker 6: was extremely successful in venture capital, trans trans old, transform
43:00
Speaker 6: that to what he's doing now, as far as started
43:02
Speaker 6: an insurance company. You know Forbes thirty under thirty like,
43:08
Speaker 6: this is a very rare opportunity to have, you know,
43:12
Speaker 6: an opportunity to ask somebody like that, you know, personal
43:16
Speaker 6: question and have them answer it for you in a
43:18
Speaker 6: very detailed manner. So you know that's that's that's something
43:22
Speaker 6: that's not that's not normal.
43:25
Speaker 2: Appreciate you and Darling hope to help skill up, keep
43:28
Speaker 2: us posed, by the way, let us know, let us know,
43:30
Speaker 2: slide into EYO comments or my comments in one of
43:32
Speaker 2: these days and let us know where you shook out.
43:35
Speaker 3: Yes, yes, Manuel were coming to you and meet yourself.
43:37
Speaker 3: You've been muted. What's going on?
43:39
Speaker 11: Appreciate you guys. I got lucky, second night in a row.
43:41
Speaker 11: I'm inhere Rock. I'm gonna keep it quick though, since
43:45
Speaker 11: I got my time yesterday. Two questions for you, John,
43:49
Speaker 11: if you had to take somebody that was newer to entrepreneurship,
43:53
Speaker 11: I have an LLC. Haven't really done anything with it.
43:56
Speaker 11: I wanted to do like an IT consulting company, But
43:59
Speaker 11: a lot of people in my community don't really have
44:02
Speaker 11: that drive behind them to learn that. So what are
44:07
Speaker 11: some good businesses to start off that will give you
44:11
Speaker 11: like a nice stable foundation or like a stable return
44:15
Speaker 11: that somebody can kind of learn from the jump and grow.
44:18
Speaker 2: With copy copy?
44:21
Speaker 3: Right?
44:21
Speaker 2: So are those both questions rolled up in one or
44:23
Speaker 2: is the other one completely?
44:24
Speaker 11: My other question was what type of information could I
44:26
Speaker 11: start reading to get a foundation for how to really
44:29
Speaker 11: go about creating a business structure?
44:31
Speaker 2: Got it? Got it? Yeah, we'd love the UIO boys
44:34
Speaker 2: a thoughts on this in my In my view, like
44:36
Speaker 2: certain honestly, service based shit is not super scalable, but
44:41
Speaker 2: there's always a clientele for it, so if you're coming
44:44
Speaker 2: from it, you know, like I think, I reflect back
44:48
Speaker 2: to my earliest early days when I was dry cleaning,
44:51
Speaker 2: like that's a service man. I didn't I didn't create
44:54
Speaker 2: a product. I didn't know how to do that shit.
44:56
Speaker 2: I didn't know anything about I didn't know a lot
44:58
Speaker 2: about most things. But I figure I could definitely convince
45:01
Speaker 2: you to use me, right, like you were already using
45:04
Speaker 2: drag clean, and I didn't have to convince you on
45:05
Speaker 2: a product that was novel. I just had to convince
45:08
Speaker 2: you to go with me. And so you know that
45:11
Speaker 2: service base approach allows you to develop some revenue, it
45:15
Speaker 2: is going to be, of course, tied to your time,
45:17
Speaker 2: and that's the bad part about it. However, that was
45:22
Speaker 2: my bridge away from a W two world that I
45:24
Speaker 2: didn't want to be in. I was like, all right, Matt,
45:26
Speaker 2: let me at least if I could work for eight
45:28
Speaker 2: hours for someone else, I could definitely sell for eight
45:30
Speaker 2: hours for myself and just eat what I kill. And
45:34
Speaker 2: I was like, yo, I'm making five hundred bucks a week,
45:35
Speaker 2: Like you mean to tell me. I can't figure out
45:37
Speaker 2: the way made five hundred bucks a week Like that
45:40
Speaker 2: was all the money in the world to me. However,
45:43
Speaker 2: I was like, yo, I think I can make five
45:47
Speaker 2: hundred bucks somehow, And that's what kind of bridged me over.
45:50
Speaker 2: So that's my take. Of course, there's a lot of
45:53
Speaker 2: other takes in EYL is constantly in the flow of
45:56
Speaker 2: you know, different businesses that are generating revenue. So would
45:59
Speaker 2: love your guys take it?
46:00
Speaker 6: Well, yeah, so the question was how to create revenue.
46:06
Speaker 2: Like some something like the best businesses for like somewhat
46:09
Speaker 2: predictable revenue in the beginning.
46:12
Speaker 11: Like for a first time business owner, if you were
46:14
Speaker 11: to get in something, if you were to put your
46:17
Speaker 11: hand in somewhere and start off from something, what would
46:20
Speaker 11: be some of the businesses that would be most stable
46:23
Speaker 11: and sustainable for me?
46:26
Speaker 6: Oh, I think you gotta look at service based businesses
46:28
Speaker 6: that you know there's always needs for. But also I
46:34
Speaker 6: would look at things that are low cost items to start.
46:40
Speaker 6: This is why that Amazon situation is so so popular,
46:44
Speaker 6: because it's like, you know, very low cost and you
46:46
Speaker 6: can sell things that people really need. But I would
46:50
Speaker 6: I would kind of look for something. I mean, that's
46:53
Speaker 6: that's kind of a tough question because it's hard to
46:55
Speaker 6: really give advice on something that you haven't done, to
46:57
Speaker 6: be completely honest with you about it. And I you know,
47:01
Speaker 6: we're a media company and it's worked for us. Now
47:05
Speaker 6: obviously that's not something that will work for everybody, right,
47:09
Speaker 6: Like I can tell you that, Okay, Well, probably if
47:11
Speaker 6: you open a nail salon, people are always going to
47:14
Speaker 6: get the nails done.
47:15
Speaker 3: But I never I don't.
47:19
Speaker 6: I've never opened the nail salon, so I can't, you know,
47:21
Speaker 6: I can It makes sense to me because it's a
47:24
Speaker 6: recession proof business. It's something that you know, outside of
47:27
Speaker 6: the pandemic. It's never going away. A barbershop never going away.
47:33
Speaker 6: People always need their headcut. But I did think there's
47:37
Speaker 6: limited upside on that. But I think for me personally,
47:42
Speaker 6: I just like to give advice on things that we
47:45
Speaker 6: have really experienced or we know closely firsthand. And most
47:49
Speaker 6: of those things aren't in that field. Like even the
47:54
Speaker 6: people that we have relationships with, they're not. It's not
47:57
Speaker 6: directly in that field. It's for was like with the
48:01
Speaker 6: nail salon, the barbershops, things of that nature.
48:05
Speaker 8: So you have Yeah, I would just add to it.
48:08
Speaker 8: I think the word deviation is the word right.
48:10
Speaker 3: We didn't. We didn't.
48:11
Speaker 8: We didn't have to deviate from what we were readily
48:14
Speaker 8: rooted in. And so Shady's career was already in financial
48:18
Speaker 8: advice and I was already in education. We just figured
48:20
Speaker 8: out there was something that we can do based on
48:23
Speaker 8: what we already knew, and so doing other things like
48:26
Speaker 8: we could have opened a barbershop, or we we could
48:28
Speaker 8: have now that we knew trucking, right, we learned those things,
48:31
Speaker 8: but our root, our core, like people call it the
48:34
Speaker 8: mother Our mothership is what we have already been doing.
48:37
Speaker 8: And so a lot of times people especially in education,
48:40
Speaker 8: and that's you know, that's my background, so that's where
48:42
Speaker 8: I could speak from. It was, okay, we're going to
48:44
Speaker 8: try a bunch of things until something works based in
48:48
Speaker 8: what we already are rooted in, and so earn your
48:50
Speaker 8: leisure becomes an extension of really education from in a
48:54
Speaker 8: financial sense. And so like I wouldn't, I would find
48:57
Speaker 8: what I'm doing now because a lot of people discount that,
49:00
Speaker 8: right there's something that you're doing right now that you're
49:03
Speaker 8: super skilled, that that you're overlooking because you want to
49:06
Speaker 8: try to create a business from something you know nothing
49:08
Speaker 8: about and we do that and it's okay, but you
49:12
Speaker 8: have a skill right now.
49:13
Speaker 6: Yeah, yeah, I think you're going about it the wrong
49:15
Speaker 6: way as far as to see what's the path of
49:19
Speaker 6: least resistance or what's the easiest way to kind of
49:21
Speaker 6: have a safe play. Nothing is ever safe in business.
49:23
Speaker 6: There's always obstacles and the vast majority of businesses don't succeed.
49:27
Speaker 6: That's fine, because you can start another business, but I
49:31
Speaker 6: would chase your passion first. I would see what you're
49:34
Speaker 6: already doing. How you can monetize that, where you have relationships,
49:39
Speaker 6: what you enjoy, where you think you can help people.
49:43
Speaker 6: It sounds corny, but I think that that's something that
49:46
Speaker 6: you know we have. That's that's what that's really the
49:50
Speaker 6: core root of our business. It's like to say, Okay,
49:53
Speaker 6: this is something that before we can make money, we
49:57
Speaker 6: can help people. And I think that as long as
49:59
Speaker 6: you can help people, you're always gonna be able to
50:01
Speaker 6: make money. So if I was starting a business, I
50:04
Speaker 6: would start with something that I'm passionate about, something, something
50:07
Speaker 6: that can help people, something that I'm already doing, something
50:10
Speaker 6: that I know. I wouldn't necessarily start with something that
50:14
Speaker 6: I have no idea about, but I think it is
50:17
Speaker 6: something that is what people you know, would be an
50:21
Speaker 6: easy situation to do.
50:22
Speaker 3: I'm telling you, like, that's no joke.
50:24
Speaker 8: Like when I was teaching, I was a coach, right,
50:28
Speaker 8: I was after school program coordinator. I did everything I
50:33
Speaker 8: could in education as another source of income.
50:36
Speaker 3: Right, I was a tutor.
50:38
Speaker 8: Right, anything I could find income from what I was
50:41
Speaker 8: already doing. I was trying to do creating programs based
50:44
Speaker 8: around education. All right, let's do that too.
50:47
Speaker 11: Just saying basically stay in my lane.
50:50
Speaker 3: Nah, I mean there's a million lanes. Everybody has to
50:53
Speaker 3: get in one.
50:53
Speaker 6: But just holding hone down on what you on, what
50:56
Speaker 6: you already doing, or what you are passionate about, and
50:59
Speaker 6: I would I would pursue that first.
51:03
Speaker 3: Got it.
51:04
Speaker 2: There's a lot of depth there, man. I think it's
51:06
Speaker 2: sound advice. So hopefully this helps you. And and by
51:09
Speaker 2: the way, sometimes you got to do a lot of
51:11
Speaker 2: Sometimes you just got to try a lot of shit
51:13
Speaker 2: that you find out later you don't like, until you
51:15
Speaker 2: figure out what you do.
51:16
Speaker 3: Like, That's where I'm at.
51:17
Speaker 2: So just space, give yourself permission to just you know,
51:23
Speaker 2: go through every emotion while you while you find what
51:26
Speaker 2: to lock in on. But the greatest blessing is to
51:29
Speaker 2: have something that you feel worthy of locking in on.
51:33
Speaker 2: Once you find that thing that you could lock in
51:36
Speaker 2: on and just pour your all into it, especially if
51:38
Speaker 2: you you know, whether that's by yourself or with friends
51:41
Speaker 2: or whatever, it's a very special thing and and that
51:46
Speaker 2: that is the best we can ask for pretty much.
51:48
Speaker 2: So I wish you success and I wish you luck
51:50
Speaker 2: on your journey to find that. Let us not keep
51:52
Speaker 2: up posed appreciate.
51:53
Speaker 6: It the more people you can help, the more money
51:55
Speaker 6: you can make. If you think about it, every successful
51:58
Speaker 6: business because they've helped you. Well, even if you look
52:00
Speaker 6: at the richest people in the world, if you look
52:02
Speaker 6: at you know, Amazon, right at its core root, it's
52:07
Speaker 6: helping people. It's helping people making shopping a lot easier.
52:12
Speaker 6: And it started with books and now it's everything e
52:14
Speaker 6: commerce where it's like now you don't have to go
52:16
Speaker 6: to Target or Walmart. You can just from the convenient
52:18
Speaker 6: of your home. And they've cut out their competition. It's
52:21
Speaker 6: cheaper prices. So regardless if you if you agree with
52:24
Speaker 6: their business model or not, it's built around providing a
52:28
Speaker 6: service that's valuable for people to help people. So Netflix
52:32
Speaker 6: the same way it helps people entertain, soothe, get over.
52:36
Speaker 6: You know, you don't have to go to the movies.
52:38
Speaker 6: That was the whole thing, right, it was like, you
52:39
Speaker 6: don't even have to go to Blockbuster, like at least
52:41
Speaker 6: before you had to actually drive the Blockbuster. They realized
52:44
Speaker 6: that people would rather just stay at home and instead
52:47
Speaker 6: of paying nine ninety nine for a cassette every Blockbuster,
52:52
Speaker 6: you can pay nine to ninety nine a month and
52:54
Speaker 6: have unlimited movies that you can watch at your disposal.
52:58
Speaker 6: So quicker people figure that out. I think the bet
53:03
Speaker 6: off everybody will be in business. And like I said,
53:06
Speaker 6: it sounds cheesy, but it is true. The more people
53:09
Speaker 6: that you can help, the more money you can make.
53:12
Speaker 3: That's it. That's it. So chase your passion, find a problem,
53:16
Speaker 3: try to create a solution for it. Help people. Yes,
53:20
Speaker 3: that was my job, that was my John Henry moment.
53:22
Speaker 3: Right there. Yeah, let's go to Angel, Angel. What's going on.
53:27
Speaker 3: I'll meet yourself. You've been unmuted.
53:30
Speaker 12: Hey, fellas, how's it going.
53:32
Speaker 3: Everything's great? How are you good? Good? Good?
53:35
Speaker 12: Angel Garcia down here a little Havanah. I got a
53:37
Speaker 12: question for both of you, guys. I'm in the real
53:41
Speaker 12: estate business, and I've been in the business now for
53:44
Speaker 12: about fifteen years, have a master's degree. I've worked for
53:48
Speaker 12: a couple private equity firms in town, and I've gone
53:52
Speaker 12: to the point and I've gone to a skill level where,
53:55
Speaker 12: you know, I just really want to start doing this
53:57
Speaker 12: for myself. And my goal is to become a developer.
54:01
Speaker 12: And as you guys probably know, there aren't a lot
54:04
Speaker 12: of Latino developers. There aren't a lot of black developers.
54:08
Speaker 12: Every time I'm in a room it's seriously with people
54:11
Speaker 12: that don't look like me. So I have the skill level,
54:14
Speaker 12: I have the ability, I have the experience. Now what
54:17
Speaker 12: I really need is to figure out how to raise
54:21
Speaker 12: the capital I need, whether it's on the GP side
54:24
Speaker 12: or the LP side, to fund these projects that I
54:27
Speaker 12: know how to manage, that I know how to turn
54:29
Speaker 12: a profit on. And there's like a gap where I
54:33
Speaker 12: have the skill and experience, but I don't have the
54:35
Speaker 12: partners and I don't have the capital to get started.
54:39
Speaker 12: But I have the skills, I have the experience. I
54:42
Speaker 12: just need to fill that gap. So, whether it's going
54:44
Speaker 12: to seminars to meet like minded people, I'm just trying
54:48
Speaker 12: to figure out how to launch here, to take advantage
54:51
Speaker 12: of the skill set and really make it, you know,
54:53
Speaker 12: and really make a dent in the real estate business.
54:57
Speaker 2: Got it? Got it?
54:58
Speaker 3: Cool? Cool? Awesome man.
55:00
Speaker 2: Congratulations on being in that position. I think, you know,
55:03
Speaker 2: few of us Latinos and lat folks are get the
55:11
Speaker 2: opportunity to have gone through through you know. I'm sure
55:14
Speaker 2: it was a lot of hard work, and somehow, through
55:16
Speaker 2: that hard work, you've now developed your technical acumen and
55:19
Speaker 2: your expertise and you are able, my friend, to craft
55:25
Speaker 2: more novel projects that are more difficult to put together.
55:29
Speaker 2: They're more complex, and they're typically at larger scale because
55:35
Speaker 2: you know, unlike someone who's buying and flip the homes,
55:37
Speaker 2: which can make a lot of bread, and you make
55:38
Speaker 2: a lot of cash on cash return on small deals.
55:41
Speaker 2: That's is gonna be really hard to flip your way
55:44
Speaker 2: up to the point where you're doing four five hundred
55:47
Speaker 2: union deals, megaplexes and really doing large developments. And a
55:51
Speaker 2: flipper can get there. But the bridge from there to
55:55
Speaker 2: there is the technical acumen that you've acquired and you've
55:58
Speaker 2: learned a shave on someone else's right, So you've got
56:02
Speaker 2: the chops while being paid a nice comfortable salary, and
56:04
Speaker 2: I bet you made bonuses along the way. So now
56:06
Speaker 2: you have probably a little bit of a cash cushion.
56:09
Speaker 2: You're you're and and you're pursuing how to get started.
56:14
Speaker 2: You want to crack it. This is my exact story,
56:17
Speaker 2: although probably more true of my partners. Right, So I'm
56:22
Speaker 2: more of just like a raw hustler, just taught myself
56:25
Speaker 2: the ship somehow. My partners are my foreign partners aren't
56:30
Speaker 2: home capital and a lot more in your position where
56:32
Speaker 2: they had gone through thng and we knew we wanted
56:36
Speaker 2: to do it for ourselves. So the best thing that
56:38
Speaker 2: I can tell you is one do it with homies.
56:44
Speaker 2: If you end up doing it with anyone doing with homies, man,
56:46
Speaker 2: the solo GP path is brutal, it's lonely, it's kind
56:49
Speaker 2: of whack. You can't.
56:50
Speaker 3: Yeah, you don't want to do that.
56:52
Speaker 2: I mean, it's just so much work to do it
56:55
Speaker 2: with your own money to start if you can't, even
56:58
Speaker 2: if it's on a small scale, because is the biggest
57:01
Speaker 2: path of resistance that you will get on any fundraising
57:04
Speaker 2: trail when your first time fund manager will always be well,
57:07
Speaker 2: what's the track record? Yeah, you can point to your
57:10
Speaker 2: track record of your body of work from your private
57:13
Speaker 2: equity funds, but everyone knows that you know, being an
57:17
Speaker 2: analysts and being an associated at a firm don't mean
57:19
Speaker 2: that you source the deal, don't mean that you cut
57:21
Speaker 2: the deal, don't mean that you you know orchestrated the deal.
57:25
Speaker 2: You just worked on it. But analysts get the most
57:28
Speaker 2: chops because you're out there doing the dirty work and
57:30
Speaker 2: doing the heavy lifting. So you you can point to
57:33
Speaker 2: your past body of work as a way to demonstrate
57:36
Speaker 2: that you have the technical acumen and the modeling experience
57:39
Speaker 2: to be able to properly handle that side of the deal.
57:44
Speaker 2: And you just got to prove that you have that
57:46
Speaker 2: beast and you that can go out there and get deals,
57:49
Speaker 2: close deals, look a man straight in the fucking aisle
57:52
Speaker 2: or woman shake their hands and get the deal done right.
57:54
Speaker 2: And it doesn't matter what scale done right. You've done
57:58
Speaker 2: that great so now so so then if I were you,
58:02
Speaker 2: there really wouldn't be a question that you would have
58:03
Speaker 2: to ask, right, you gotta tap that fucking inner shark
58:09
Speaker 2: right like, you got the deal, you got the technical acumen,
58:12
Speaker 2: and now what you have to work on is packaging. Right.
58:16
Speaker 2: Packaging the deck, my friend, is the biggest tool in
58:21
Speaker 2: raising money any acid class period.
58:25
Speaker 3: Right.
58:26
Speaker 2: You put together a deck and you will have money.
58:30
Speaker 2: That's a killer deck, and you can sell it and
58:32
Speaker 2: you will have money on the other side. To me,
58:34
Speaker 2: it's always been bizarre by the way you can walk
58:37
Speaker 2: in there with a fucking PowerPoint and present it and
58:39
Speaker 2: just sell someone and on the other side of that
58:42
Speaker 2: you will get it a check on the other side
58:45
Speaker 2: of a diligenous process, of course, So of course This
58:50
Speaker 2: is in some essences of simplification, but in other essences
58:53
Speaker 2: the only information that I believe you really need is
58:59
Speaker 2: put it together and over index on the side of
59:01
Speaker 2: making it look professional. For example, we actually paid someone
59:05
Speaker 2: like fifteen hundred bucks or two thousand dollars to put
59:08
Speaker 2: together you know, I made my own deck and then
59:10
Speaker 2: I had someone else design it make it look killer.
59:13
Speaker 2: And it's like, yeah, that's a lot of money spent
59:14
Speaker 2: on a deck, but I'm gonna spend two grand on
59:17
Speaker 2: a dock that's gonna make me twenty million. Yeah, it's
59:20
Speaker 2: what overterials looking good, over index on you know, on
59:27
Speaker 2: just having a tight thesis and knowing your ship and
59:31
Speaker 2: and I don't think that there's any reason why you
59:33
Speaker 2: couldn't go out there. And by the way, there's a
59:35
Speaker 2: lot of diversity money going to emerging fund managers right now.
59:38
Speaker 2: Diverse they don't have enough back. There's only looking people
59:46
Speaker 2: than all these other guys. So if Angel Garcia comes
59:49
Speaker 2: along and he knows his ship and he's sharp and
59:51
Speaker 2: you know he can sell, then you're gonna get the
59:53
Speaker 2: back guaranteed.
59:55
Speaker 4: Where can I find that length?
59:56
Speaker 2: Though, I guess it's my question, Well, well, length.
1:00:00
Speaker 12: Bro like like who, like, who are the those funds
1:00:06
Speaker 12: that I can have the conversation with. I mean, it's
1:00:09
Speaker 12: out there, but I just don't know where to go.
1:00:10
Speaker 2: I guess it's I mean, they're not in a neat
1:00:13
Speaker 2: little list that says you'll come find me right It's elusive.
1:00:17
Speaker 2: It's you know, capitals in the fucking air right now.
1:00:20
Speaker 2: You know, billions of dollars always flowing. You know, if
1:00:24
Speaker 2: you make a good impression, I might be able to
1:00:26
Speaker 2: know someone who does consider LP deals and then you
1:00:29
Speaker 2: get to them, and then that person Cob probably knows
1:00:31
Speaker 2: a few other people, and you got to work your
1:00:33
Speaker 2: way in with salesmanship and alert you know, in that alert. Yeah,
1:00:39
Speaker 2: So I'll do I'll do this. I'll do this for
1:00:41
Speaker 2: the community out there. Put together some materials and send
1:00:43
Speaker 2: them my way. If I like them, I will put
1:00:46
Speaker 2: them in front of a number of dudes that I
1:00:49
Speaker 2: know whose net worth is in twenty fifty ms, whom
1:00:53
Speaker 2: consider these investments regularly, that might take a serious look
1:00:58
Speaker 2: if I send it their way. But you got to
1:01:00
Speaker 2: have your shit together, and if it's not, I will
1:01:02
Speaker 2: simply not pass it on because I treasure these relationships too.
1:01:06
Speaker 3: Much.
1:01:07
Speaker 2: But if they are, I give you my word that
1:01:09
Speaker 2: I will do. Request a double op intro and say, yo,
1:01:12
Speaker 2: take a look at this. Is this do you want
1:01:14
Speaker 2: to learn more? And if they say yes, this, you know,
1:01:16
Speaker 2: that's kind of on you and the timing and everything else.
1:01:19
Speaker 2: But you got to hustle your way in. So let's
1:01:21
Speaker 2: see what you can produce. I'm looking forward to it.
1:01:23
Speaker 4: Awesome.
1:01:24
Speaker 3: I appreciate that.
1:01:25
Speaker 2: I make sure to do that.
1:01:26
Speaker 6: Also, I always say shout out to Ang I remember
1:01:29
Speaker 6: him from the Airbnb episode.
1:01:31
Speaker 3: He's in Little Havana. Are you Cuban?
1:01:38
Speaker 12: Puerto Rican and black?
1:01:40
Speaker 3: Puerto Rican and black? Okay?
1:01:42
Speaker 6: So what another thing that you should Networking is extremely important, right,
1:01:46
Speaker 6: and you said something that was very poignant. You said,
1:01:50
Speaker 6: you know a lot of most real estate developers they're
1:01:53
Speaker 6: they're white, and it's hard to crack into that situation
1:01:56
Speaker 6: for a variety of different reasons. We don't even have
1:01:58
Speaker 6: to go into that. But never discount the value of
1:02:02
Speaker 6: networking and affinity groups. So there's a lot of Puerto
1:02:07
Speaker 6: Rican people. I don't know about Miami, but I know
1:02:09
Speaker 6: in Orlando, in Florida, in New York. Definitely, I would
1:02:16
Speaker 6: look for infinity groups, especially on the Latin side, especially
1:02:21
Speaker 6: on the you know port It doesn't even have to
1:02:23
Speaker 6: be Puerto Rican group. It could be a Cuban group too.
1:02:26
Speaker 6: If you speak Spanish. That's a tremendously valuable thing in America.
1:02:31
Speaker 6: I would look for affinity groups and network with other
1:02:34
Speaker 6: Latino or Black developers, and if there aren't any infinity
1:02:40
Speaker 6: groups in the area, I would start one. Because people
1:02:44
Speaker 6: tend to be tribal in nature, this is something that
1:02:48
Speaker 6: is extremely important for people to understand. Jewish people usually
1:02:53
Speaker 6: tend to do business with Jewish people. Indian people usually
1:02:56
Speaker 6: tend to do business with Indian people. People tend to
1:03:00
Speaker 6: usually do business with Italian people. The problem is that
1:03:03
Speaker 6: a lot of times it's Black and Spanish people, Latin people.
1:03:06
Speaker 6: We look for other groups to do business with us, unfortunately,
1:03:09
Speaker 6: because we're not in positions of power, so we look
1:03:12
Speaker 6: for them to hire us. We look for them to
1:03:14
Speaker 6: partner with us. But that's not really the best way
1:03:17
Speaker 6: to go about it, because self preservation is the number
1:03:20
Speaker 6: one key to life. And like I said, people are
1:03:23
Speaker 6: naturally tribal by nature, so you really can't expect white
1:03:27
Speaker 6: people to do business with you. I mean they can
1:03:30
Speaker 6: if they want to, but in reality, they have more
1:03:34
Speaker 6: in common with other white people. What we need to
1:03:36
Speaker 6: do is start doing business with each other. Black people
1:03:39
Speaker 6: need to start doing business with black people. A Talian,
1:03:42
Speaker 6: Spanish people, a Latin people need to start doing business
1:03:45
Speaker 6: with Latin people. We need to start doing business with
1:03:46
Speaker 6: each other. And that way we wouldn't have to rely
1:03:50
Speaker 6: on always looking for a white savior to save us, because.
1:03:57
Speaker 3: That's not gonna happen.
1:03:58
Speaker 8: To be honest with you, angel I got advice that
1:04:01
Speaker 8: you can apply, like right now, Okay, you can go
1:04:06
Speaker 8: to the Facebook group right now, tell them everything that
1:04:10
Speaker 8: you're talking about, and I guarantee there will be some
1:04:13
Speaker 8: earners that will be interested to help you and be
1:04:16
Speaker 8: a part of what you're trying to do. Like you
1:04:19
Speaker 8: have a network of people that you're on zoom right now,
1:04:21
Speaker 8: so I know you're an earner and so if you
1:04:23
Speaker 8: tell the people the intent, it's an amazing community. I'm
1:04:27
Speaker 8: not just saying it because we're part Like I've seen
1:04:30
Speaker 8: it happen. I've seen people. It's the reason why we
1:04:32
Speaker 8: have our own groups inside of eyl University is for
1:04:36
Speaker 8: these exact reasons. Who are the people I can partner with.
1:04:38
Speaker 8: I'm sure there's plenty of people in South Florida that
1:04:41
Speaker 8: are inside the group right now that didn't even know
1:04:43
Speaker 8: that this was happening right that you had these ambitions
1:04:47
Speaker 8: and will be willing to work with you and help
1:04:49
Speaker 8: you in this process. You can do that like, well,
1:04:52
Speaker 8: after this is done, don't do it right now right.
1:04:54
Speaker 4: I'll make sure to do.
1:04:55
Speaker 8: That, absolutely, man, and we'll be able to see it too.
1:04:58
Speaker 8: So I'm looking forward to seeing you putting that message
1:05:01
Speaker 8: in the in the group.
1:05:02
Speaker 3: Okay, I'll make sure to do that.
1:05:04
Speaker 2: Thank you, appreciate you, Angel, Angel, Good luck Man, be encouraged,
1:05:09
Speaker 2: my friend. I think you you have a really unique
1:05:10
Speaker 2: opportunity ahead of you. You have all the wherewithal and
1:05:13
Speaker 2: the knowledge, and it's going to be purely a measure
1:05:16
Speaker 2: of your effort and resourcefulness from this point. So God speed,
1:05:18
Speaker 2: my friend. Keep it supposed to.
1:05:21
Speaker 3: Oh we got this is this is a special calling
1:05:23
Speaker 3: right here, yo. Andre.
1:05:24
Speaker 2: Also a quick note to the one point one thousand
1:05:29
Speaker 2: you guys watching, and thank you so much for tuning
1:05:31
Speaker 2: in to the Wealth Principles. It's been an experimental collaboration
1:05:38
Speaker 2: between Loop and myself and earn your leisure team. So
1:05:43
Speaker 2: we man, we were proud of the value that we delivered.
1:05:47
Speaker 2: We've dived into how the mechanics of how to build
1:05:49
Speaker 2: a two hundred and fifty million dollar company with one
1:05:52
Speaker 2: of the only black fans speaking of black business that
1:05:54
Speaker 2: has gone and done that. So on the wrong we've
1:05:57
Speaker 2: talked about content strategy and great depth from the team
1:06:01
Speaker 2: captain of Gary Vee, who is probably the best modern
1:06:05
Speaker 2: marketer in the world at the moment. And we've also
1:06:08
Speaker 2: discussed the power of brand with one of my favorite
1:06:10
Speaker 2: up and coming entrepreneurs that I consider a close friend
1:06:14
Speaker 2: as well, named Annie Hustles from Cocutta, Chico. So we've
1:06:18
Speaker 2: given you a wide variety of information and great detail
1:06:21
Speaker 2: and mad PDFs information you name it all out the wazoo.
1:06:26
Speaker 2: So I appreciate you guys. If you've gotten any value
1:06:29
Speaker 2: from this whatsoever, I would appreciate you guys checking out
1:06:33
Speaker 2: Loopinsured dot Co. That's the name of my company. Speaking
1:06:35
Speaker 2: about community support community Man, we were looking to build
1:06:41
Speaker 2: an insurance carrier that's for us, by us. None of
1:06:44
Speaker 2: these other carriers are going to consider our outcomes, our situations,
1:06:48
Speaker 2: none of that. And so speaking of what Shadday was
1:06:50
Speaker 2: saying earlier about adding value. The truth to adding value
1:06:54
Speaker 2: is you can only add value to the extent of
1:06:57
Speaker 2: what you know, right, And so when I started, I
1:07:00
Speaker 2: did what I knew was my possile was a dry cleaner,
1:07:02
Speaker 2: So I you know, I did that. And then my
1:07:06
Speaker 2: as my vision had expanded and my acumen had expanded,
1:07:10
Speaker 2: I went and did more and more things that helped
1:07:13
Speaker 2: more and more people. Now I'm at the point of
1:07:16
Speaker 2: my chops where you know, I can create a vertically
1:07:19
Speaker 2: integrated financial services company and attack and industry. I learned
1:07:24
Speaker 2: how to sell doing dry clean and I learned how
1:07:26
Speaker 2: to brand doing an incubator. I learned how to raise
1:07:28
Speaker 2: capital starting to fund. This is a combination of all
1:07:31
Speaker 2: those things paired with you know, my co founder who
1:07:34
Speaker 2: brings a tremendousest, tremendous technical expertise, so we can build
1:07:39
Speaker 2: you know, predictive models and ingest data and build mobile
1:07:42
Speaker 2: product and then apply a brand around it, and then
1:07:46
Speaker 2: apply to a segment in the market, which is you
1:07:48
Speaker 2: all community that has been overlooked in many different ways,
1:07:52
Speaker 2: and insurance is one of certainly one of the big culprits.
1:07:57
Speaker 2: So that's what loop is is our interpretation of how
1:08:01
Speaker 2: to tackle this from the ground up. We recently were
1:08:06
Speaker 2: this close to inking up a sizable deal that I
1:08:09
Speaker 2: hope to be able to announce in the coming weeks,
1:08:13
Speaker 2: and we are not live in the market just yet.
1:08:15
Speaker 2: We are starting in Texas. Texas was strategically chosen because
1:08:19
Speaker 2: it's a large market, real volumin it's big auto market,
1:08:22
Speaker 2: a lot of a lot of US here as well, Austin, Dallas, Houston, Passo.
1:08:26
Speaker 2: We're you know, we're getting busy. But then immediately you know,
1:08:29
Speaker 2: we're this is a venture pace. This is not We're
1:08:31
Speaker 2: gonna be in Texas for three years and then state
1:08:33
Speaker 2: number two and in the fourth year, this is we're
1:08:36
Speaker 2: gonna be live in Texas. We're immediately filing our race
1:08:39
Speaker 2: and filing for approval in Ohio, Pennsylvania, and New York. Georgia,
1:08:44
Speaker 2: Fucking Atlanta's gonna be a key market for us. I'm
1:08:47
Speaker 2: definitely heading over, you know, Georgia, Arizona. What's good. We're growing,
1:08:51
Speaker 2: going to expand our geographic footprint. We hope to raise
1:08:54
Speaker 2: more capital and bring the service to more places. So
1:08:58
Speaker 2: if that has brought you any value, head over to
1:09:01
Speaker 2: loopinsure dot co and join the wait list. Man, that
1:09:04
Speaker 2: would mean a lot to me. Bonus bonus if you
1:09:08
Speaker 2: head over to loopinsurre dot co slash ey l. That's
1:09:12
Speaker 2: the web experience that we created in conjunction with UYL
1:09:16
Speaker 2: that takes all the information that was discussed on all
1:09:19
Speaker 2: these episodes and delivers it to you no charge, just
1:09:23
Speaker 2: to build depth, connection trust. So that's available for you
1:09:26
Speaker 2: as well. Also take note, by the way, just to
1:09:30
Speaker 2: be transparent about the page here right, we'll building something
1:09:34
Speaker 2: for the community earn. Your leader has a platform and
1:09:39
Speaker 2: enormous currency with the community. So what did we do.
1:09:41
Speaker 2: We came together and we made a limited serious exploration
1:09:46
Speaker 2: of what could occur to cross pollinate and explore the
1:09:50
Speaker 2: value that could be had there. So also take a
1:09:52
Speaker 2: page from our book. By the way, if you're a
1:09:54
Speaker 2: media company, find a partner, and if you're a business,
1:09:56
Speaker 2: find a media partner. So what we're doing, we're real
1:10:00
Speaker 2: transparent about it. It's for you all to consume and
1:10:03
Speaker 2: benefit from. I'm joined that waylist. I would really appreciate
1:10:06
Speaker 2: it loopinsure dot co. Maybe the boys can link it up.
1:10:09
Speaker 2: That would be appreciated. If it's not already sure.
1:10:11
Speaker 6: And I think I think somebody Johnny dare he froze
1:10:21
Speaker 6: on our I'm not sure if he's frozen on YouTube?
1:10:27
Speaker 2: Oh check check check check.
1:10:28
Speaker 3: No, I don't.
1:10:29
Speaker 6: I don't know if it's if it if it's all
1:10:30
Speaker 6: Wi Fi or I'm not sure, but you have frozen
1:10:32
Speaker 6: a little bit. But what I was saying is that
1:10:34
Speaker 6: also somebody I saw somebody on YouTube saying like we
1:10:39
Speaker 6: still don't have a Black Wall Street. I would actually
1:10:42
Speaker 6: beg to differ we in twenty twenty one. So black
1:10:45
Speaker 6: Wall Street isn't isn't like a physical place where it's
1:10:48
Speaker 6: like a town that's actually limited if you really think
1:10:51
Speaker 6: about it in today's economy. And I think we actually
1:10:54
Speaker 6: have and are establishing a Black Wall Street online. And
1:11:00
Speaker 6: you see ear your Leisure, you don't just see a platform.
1:11:02
Speaker 6: It's an ecosystem of businesses and entrepreneurs that have all
1:11:05
Speaker 6: come together and all have common goal. So when you
1:11:08
Speaker 6: see us working with John that's a black owned insurance company,
1:11:14
Speaker 6: you know that's a black owned, Latin owned insurance company that.
1:11:20
Speaker 3: Is global, will be global.
1:11:22
Speaker 6: So when you see us working with Alex good Energy,
1:11:25
Speaker 6: it's a black owned trucking company, when you see us
1:11:28
Speaker 6: with Paula, who's the only black woman in New York
1:11:32
Speaker 6: that has a water facility, you know that's extremely important.
1:11:38
Speaker 6: When you see us with anybody that we have who
1:11:41
Speaker 6: ninety percent of the people that we highlight are black
1:11:44
Speaker 6: business owners and investors. That is a renaissance. That's the
1:11:50
Speaker 6: new Black renaissance, and that is Black Wall Street. Like
1:11:53
Speaker 6: I said, it's not in Tulsa, Oklahoma, it's on Instagram,
1:11:57
Speaker 6: it's online, and these people are on all different areas
1:12:01
Speaker 6: of the globe, in all different areas of the country.
1:12:05
Speaker 6: But we can't discount the value of the economic renaissance
1:12:10
Speaker 6: that is actually taking place over the last eighteen months.
1:12:15
Speaker 6: You would be extremely you would do yourself with disservice
1:12:19
Speaker 6: if you didn't understand that, like how we looked at
1:12:22
Speaker 6: Black Wall Street is history. Everything that we're doing right
1:12:25
Speaker 6: now is going to be looked at his history twenty
1:12:27
Speaker 6: years from now, thirty years from now, ten years from now.
1:12:30
Speaker 6: And it's important that we say that because if not,
1:12:33
Speaker 6: somebody else will take the credit for what's what's happening,
1:12:36
Speaker 6: and they'll ReadWrite history however they want it to write it.
1:12:38
Speaker 6: So if you want to, if you want history to
1:12:40
Speaker 6: reflect the truth. It's important for you to dictate it
1:12:45
Speaker 6: and for you to to have a deep level of reverence.
1:12:49
Speaker 6: We always have reverence and respect for people after they die. Unfortunately,
1:12:54
Speaker 6: people stream DMX music. He's number one. Nipsey Hussu, his
1:12:58
Speaker 6: music went crazy after he died. But we have to
1:13:03
Speaker 6: understand that we can't follow dead generals, like when somebody dies.
1:13:07
Speaker 6: The legacy, there's not a there's nothing. You can't follow
1:13:11
Speaker 6: a dead person. You can look at them for inspiration,
1:13:14
Speaker 6: but you have to actually have reverence and appreciate people
1:13:18
Speaker 6: that's actually living. So when I look at John Henry,
1:13:20
Speaker 6: I look at him as one of the most important
1:13:22
Speaker 6: entrepreneurs in the century, and we have to understand that
1:13:27
Speaker 6: and not minimize He started an insurance company. This is Geico,
1:13:31
Speaker 6: this is his competition, Geico State Farm Nationwide. He's a
1:13:34
Speaker 6: billion dollar industry. So we can't just look at it
1:13:37
Speaker 6: and just minimize it. Because he's on YouTube for free
1:13:43
Speaker 6: for an hour every Thursday this month. We have to
1:13:47
Speaker 6: understand that this is Black Wall Street and this is history.
1:13:51
Speaker 6: So just keep that in mind and add to it,
1:13:56
Speaker 6: and let's really grow this as big as it possibly
1:13:58
Speaker 6: can be.
1:14:00
Speaker 3: Onset.
1:14:02
Speaker 8: Well, ironically enough, we're approaching one hundred year of the
1:14:07
Speaker 8: destruction of Blackwall Street and Tulsa, Oklahoma. So it starts
1:14:11
Speaker 8: in the mind and that's why we always we talk
1:14:13
Speaker 8: about that a lot. When our mindset is there, what
1:14:16
Speaker 8: we can achieve is unfathomable, and so we got to
1:14:20
Speaker 8: remember that.
1:14:22
Speaker 3: John Henry, Oh wait, I've had this.
1:14:23
Speaker 8: Guy home, Hatchet, the very first first yl professor, university professor,
1:14:31
Speaker 8: two time professor.
1:14:32
Speaker 3: That's true, he did. He doubles back. What's going on, Hatchet?
1:14:36
Speaker 13: Everything is great, man, everything is great. Just called in
1:14:39
Speaker 13: to just show love to you guys. I've watched every
1:14:41
Speaker 13: all four episodes, so I know John from our Harlem days.
1:14:45
Speaker 13: So shout out to John on the growth and the expansion.
1:14:49
Speaker 13: Honor to know you guys.
1:14:52
Speaker 3: Whatever.
1:14:52
Speaker 13: John Ya, I'm actually in Austin, John, if you're around,
1:14:54
Speaker 13: I'd love to get you on my show. I'll be
1:14:57
Speaker 13: here till like Saturday Sunday, So hit me a you
1:15:00
Speaker 13: down for that, but much love that.
1:15:03
Speaker 3: Thank you, man.
1:15:03
Speaker 13: I appreciate it. I mean, epic shit's happening year. Take
1:15:10
Speaker 13: it likely, this is hardcore pressure. Take it likely. Appreciate
1:15:17
Speaker 13: these brothers and I so honest to know you guys.
1:15:19
Speaker 3: John hit me up, h e y Yl.
1:15:24
Speaker 13: Put me back on the platform. Then later everybody show
1:15:27
Speaker 13: these guys some level.
1:15:28
Speaker 6: Yeah, I appreciate you brothers, love John, thank you many
1:15:32
Speaker 6: appreciate it. Andre Hatchett, the King of Mordal notary business.
1:15:38
Speaker 3: Another that was.
1:15:39
Speaker 8: A shocker that I didn't even know you that was
1:15:42
Speaker 8: a business. Another one mad margin, It's insane. I'm like, wait,
1:15:47
Speaker 8: you made what cool man?
1:15:51
Speaker 3: John? Are you ready to just uh conclude.
1:15:55
Speaker 2: This, Yes, sir, it was just about to say, fellas,
1:15:59
Speaker 2: it's been real. Thank you to everyone who jumped in
1:16:03
Speaker 2: on this episode. We appreciate you guys getting the chance
1:16:06
Speaker 2: to jump in ask questions. I got mad other questions
1:16:10
Speaker 2: that came in through the emails I came in through everything.
1:16:12
Speaker 2: I thought I would do something fun. I got an idea.
1:16:18
Speaker 2: So I want to invest. I mentioned this last time.
1:16:21
Speaker 2: I've been proactively looking for deals. So I want to invest,
1:16:24
Speaker 2: as I mentioned, not not a huge amount, but ten
1:16:28
Speaker 2: ten racks. I'll throw ten racks to a number of
1:16:30
Speaker 2: businesses that I like. Bro, someone was fucking emailing me
1:16:35
Speaker 2: with all caps locked, being like, yo, you really said
1:16:38
Speaker 2: that ship and click it's like, yeah, now that I
1:16:42
Speaker 2: got your attention, I was like, Bro, come on, man,
1:16:47
Speaker 2: it's clever, but come on, man, hit me with some
1:16:50
Speaker 2: real shit. You know, if you go, if you go
1:16:54
Speaker 2: to like go to join the wait list, what we're
1:16:57
Speaker 2: gonna do is we'll do a clubhouse and then we'll
1:16:59
Speaker 2: just do these live pitches and the deals that I
1:17:00
Speaker 2: want to double click on. We'll take a look. So
1:17:05
Speaker 2: just throwing that out there for all the folks that
1:17:07
Speaker 2: ask questions and didn't working on businesses and didn't get
1:17:09
Speaker 2: a chance to get their ship answered. We got you.
1:17:12
Speaker 2: But yo, fellas, thank you man. It's been real. It's
1:17:14
Speaker 2: been a lot of fun. I learned a great deal
1:17:17
Speaker 2: from from you guys. And you guys. Man, you guys
1:17:22
Speaker 2: are just getting a chance to banter back and forth
1:17:24
Speaker 2: over the weeks and just seeing your guys is you know,
1:17:27
Speaker 2: your your acumen evolved. The platform has expanded ridiculously from
1:17:31
Speaker 2: the time we started the show and it was just
1:17:32
Speaker 2: a month ago. What the fuck a ridiculous ray. It's
1:17:36
Speaker 2: the same, bro, like we back, companies don't grow as fast. Bro,
1:17:41
Speaker 2: I'm watch bro.
1:17:43
Speaker 6: Hockey hockey stick, hockey stick growth rate, hockey hockey stick.
1:17:46
Speaker 2: Bro, it's just like this, uh community, take note, man,
1:17:51
Speaker 2: continue supporting these brothers and then you know, you guys
1:17:55
Speaker 2: got the mind's touch right now to keep it rolling.
1:17:57
Speaker 2: We're gonna be doing everything we can on this side
1:18:00
Speaker 2: to continue with the to support on the continue growth man,
1:18:03
Speaker 2: from sharing episodes, consuming sharing. Everyone do the same. And yeah, man,
1:18:09
Speaker 2: I think it's been love. It's been a great it's
1:18:11
Speaker 2: been a great run. The content is gonna live evergreen.
1:18:13
Speaker 2: We'll see the long tail that ends up having. And
1:18:17
Speaker 2: it's been a great honest, it's been a great, uh
1:18:19
Speaker 2: great experience from this side.
1:18:21
Speaker 3: Yeah, I appreciate you, bro.
1:18:22
Speaker 6: Like I said, it's been a great run for us,
1:18:26
Speaker 6: and we enjoyed it a lot. We look forward to
1:18:28
Speaker 6: doing more work with you in the future. And it
1:18:31
Speaker 6: was something that I know a lot of people got
1:18:33
Speaker 6: a lot of value from because I learned people say,
1:18:36
Speaker 6: like I implemented stuff right away when we interview when
1:18:39
Speaker 6: we did the content episode and Andy when he was
1:18:44
Speaker 6: talking about like instagra, YouTube the rails, I forgot what
1:18:51
Speaker 6: it's called, but YouTube like it's kind of like a
1:18:52
Speaker 6: real situation.
1:18:53
Speaker 2: And the YouTube shorts, yep, YouTube.
1:18:55
Speaker 6: Shorts, And I did one like an hour after the
1:18:57
Speaker 6: episode and people were like, were you implementing a I'm like,
1:19:00
Speaker 6: what's the point of listening to something that implement it?
1:19:03
Speaker 6: And then with the captions, I started putting captions on
1:19:07
Speaker 6: rails and co people notice that, like I see, I
1:19:09
Speaker 6: see you. You didn't waste no time. So yeah, I mean,
1:19:12
Speaker 6: I'm applying the information myself. And like I said, if
1:19:14
Speaker 6: you're not, if you're not applying the information and you're
1:19:17
Speaker 6: just being entertained. So the whole point of it is
1:19:21
Speaker 6: to provide, is to provide you with information that you
1:19:23
Speaker 6: can really apply. And these are things that I actually
1:19:26
Speaker 6: applied in real time, just from from actually learning from here.
1:19:30
Speaker 6: So we learn just as much as everybody else learns.
1:19:35
Speaker 6: So hopefully you guys learned something or a variety of
1:19:40
Speaker 6: different things that you can implement. And make sure you
1:19:44
Speaker 6: rewatch these. They're on YouTube, they're on the podcast channel,
1:19:49
Speaker 6: so share them. Sign up to Loop Ensure, make sure
1:19:55
Speaker 6: you support that. Make it the number one insurance company
1:19:57
Speaker 6: in the world. Let's really you know, hit the hit
1:20:03
Speaker 6: the ball out the park. John always a pleasure man.
1:20:07
Speaker 6: I'll call you the young legend, but I'm taking young off.
1:20:10
Speaker 6: You're just a legend outright, and so when you were
1:20:13
Speaker 6: just speaking, that's about my brain.
1:20:15
Speaker 8: I have an idea. The people that are requesting that
1:20:18
Speaker 8: you come back. So I got an idea.
1:20:22
Speaker 2: I love it. I love it. Fellas, be well Man
1:20:24
Speaker 2: and joy La keep holding it down. We're room for
1:20:26
Speaker 2: you all and until the next one. Fellas all right, bro,
1:20:30
Speaker 2: appreciate you, Thank you all for watching. Listen, appreciate you,
1:20:32
Speaker 2: love us.
1:20:33
Speaker 3: Love.
1:20:39
Speaker 9: My graduates from my school.
1:20:41
Speaker 7: Being forced back and drop drop, Mike, drop back drop.
1:20:58
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