Transcription
How many times would you say you've broken 100K in the various businesses you've been a part of?
Several times.
Welcome to the department, Joy.
Thank you.
Serial entrepreneur, multiple seven-figure entrepreneur. I just want to tap into your insight, your genius around breaking that 100k mark.
I had to pay my rent. I went through a divorce. My husband took everything, locked me out of my businesses. I I got to do something. People don't want the fluff. They don't want the cute graphics and this is, you know, start your business. This is going to be for they want the real and the more authentic and real you can be and unique the quicker it is to get a a client over and over again. A lot of people do struggle with imposter syndrome or even the concept of like why would anybody want to learn from me. Your target audience is going to be you 5 years ago. If you could just break down in a simple format how you got from A, B, C, and D, millions of people just want to get to where you are.
A lot of people who start just making money on the side, maybe they're not entrepreneurs. Should everyone try starting their own business?
Well, my views may differ a little. Um, I want your views. I in every business I've done.
Welcome to the department, Joy. Welcome to Las Vegas.
Thank you. So glad you're here. The f the it the fit is heavenly. Like actually, it's a vibe. That's um so excited you're on. You you are a very interesting um person in the sense of all you've been able to accomplish and you know serial entrepreneur, multiple seven-figure entrepreneur and you're even you've taken a lot of in-person business stuff and now you're starting your online business and uh I just want to tap into your insight your genius around breaking that 100k mark.
Okay. And like how many times would you say you've broken 100K in in the various businesses you've been a part of?
Several times. Yeah. Several times.
So So there's probably a pattern of things people are experiencing because that is a a goal whether whether it's 100k in revenue a year or it's like $10,000 months. I feel like that's a very, you know, new business owner kind of desire. Um yeah. What would you say some keys in regards to like the things you've discovered on a pattern-wise to break through that 100k?
Um, consistency. So, really all you're doing is the same thing you started with just on a larger scale. So, if you can make $10, whatever you did to make $10, do that same thing just 10 more times and now you can make $100. It's just the same thing and we're just scaling it. And then so let's just say I'm a photographer and I charge a h 100red bucks for a photo shoot. Like what how would you encourage that person to get to 10k a month if like for that person to get to 10k the the thought in their mind is like I'll have to do a hundred of these.
Is that right math? Is that right math?
That's good math. I'm not the math girl. But think of your business as having multiple buckets. So, how can I fill up multiple buckets doing the same or anciliary things? If I'm a photographer, I can only make so much money expending time for money, but how many other people out here would like to be a photographer? I can teach someone how to become a photographer. What's the equipment? What do I charge? So, now that could be a course that can teach new entrepreneurs how to start the business. Then you may have some photographers that don't really know how to, you know, expand their business and you have. So that could be a a higher tiered course. So all you're doing is doing the getting one thing and then just trying to duplicate that multiple times in the in the infos. So somebody who's like you giving the permission like you could teach somebody how to do the thing you know how to do. A lot of people do struggle with like um like imposter syndrome or even the concept of like why would anybody want to learn from me like you know so your target audience is going to be you five years ago. So you don't have to be the expert. You don't have to be the number one person doing it. Talk to the person who was 5 years ago. The person 5 years ago is probably struggling with believing that they can start the business. Had no idea where to go. got on YouTube University and was just everywhere because you know you can get from one video to one thing you don't know where to go. So if you could just break down in a simple format how you got from A B C and D millions of people just want to get to where you are.
That's good. I have found five years when you're when you're building your business like this looking back could be difficult because it's so far ago and you most people when they're building their thing they are they aren't as self-aware of what they are building because they're just going with the flow.
Correct. Uh yeah. What are some things that you could do to like kind of get your memory back on like, oh yeah, I remember that was a hurdle, you know, cuz you get sometimes you get good and we we forget that it was it was more than just time. It was it was experience. It was going back and forth with clients, like all those things that because that that is that is true. Like you could sell something to someone who was who's 5 years behind you. But it if I were to do that now, that would be like a tough little situation to try to unpack like how can I how can I get very clear on those that five years ago?
I would say um bring up three to five pain points or three to five common questions that you're currently getting. So people kept saying keep if if if I keep if you keep getting how do I start a YouTube page? How do I know what equipment to do? like people people will tell you what it is that they're needing and you just answer those questions. But if you if you take the time and think back what the nights that you were crying, the nights that you were stressed out, the nights that you was like, I don't know how I'm about to make this, that's what you want to speak to. Those pain points when you almost gave up. What was it that that you needed to resolve this? Go back. You have to you have to go back to that person and that's what you sell and they're going to buy it over and over and over again because it's real. It's authentic. People don't want the fluff, right? They don't want the cute graphics and this is, you know, start your business is going to be. They want the real and the more authentic and real you can be and unique and speak to that painoint, the quicker it is to get a a client over and over again.
Well, what what have you found are the biggest pain points of newer entrepreneurs?
Um, the biggest pain point is number one, everything has to be perfect. So, I can't start until I have the website, the website, the logo, the lights, the equipment, the like just make money by Monday. Just do something today. The launch, the word launch has messed up people's stuff because people don't realize that someone's going to find you a year from now and forgot that you no one even know that you launched.
Like Exactly. It's irrelevant. Like somebody's watching this podcast and I've been around for two years just doing the podcast, but when I like But if I if I made it all about the launch, I might not be here, right? Because you phase out. But that's really okay.
Yeah. Perfectionism. Perfectionism. Um, another thing would be what do I say? Like what do I do? Like they want someone to give them step by step by step by step by step as to what to do. Not realizing in you starting the business, you're going to make some mistakes that are going to lead you to something else that you need. Like it's the whole the whole process is figuring out what is your ump, what is your thing.
Yep. Yeah. The revelation comes in the activity.
Correct. Yeah. Which um Yeah. It's it's crazy how cuz now you're causing me to think back to when I was, you know, getting started and stuff and it and it's okay to know that you're getting started because it's making you who who you're going to be for the people you're called to serve.
Correct. Like most people when they start they they usually charge low because they feel like that's what they have to. Um, where's that when it comes to like positioning yourself in the market as a as a you know low ticket person or cheaper option versus a premium option?
Well, my views may differ a little. No, I want I want your views. Um I in every business I've done like car dealerships, hair salons, um hair boutiques, uh tax, everything I've done has been in that affordable, low entry, low barrier barrier fruit model and I do the volume game. I also believe in tiered pricing. So I have some lowhanging fruit, something in the middle and then something for someone who's like ready to go. So I think if you do tiered, you know, you can kind of get someone everywhere in that in those prices. But um that's where my expertise is.
Yeah. So like cuz because when you go lower ticket it doesn't I mean for sustainability you have to do volume.
Correct. Um and then how do you create those next levels of tears? Because then what tends to happen is people go, you know, how do you reserve the information you share in this group as opposed to sharing what you share in the next group? Like how you determine the information because that's what people think or the experience or what have you.
I don't think it's the information because I believe in overd delivering, right? So I over give value. I believe the tiers will be either more access to you or helping them implement what it is that you're teaching them. So, people are going to pay more to help me actually incorporate what you're saying to do, not just give me the information.
What What are some um similarities and differences you've seen between a lot of your brickandmortar type businesses and things for people building an online business?
Um, I believe in guerilla market marketing. So, I'm going to be What's that? In in your face. Like, how fast I was going to text you, email you, send a white dove to your house. Like, I believe in in your face marketing. Get your get your brand up there. Post multiple times a day. Be on the stories. Be on Instagram live. When I was uh in my brick and mortar, we have a street team. We're going to be on the radio. Like, you're going to hear you're going to be tired of hearing about my I believe in gorilla marketing. So marketing to me is the same. Um being consistent. It's all the same principles. It's just different vehicles. So a brick and mortar I'm concerned with this area making it hot where online it's like well shoot. It's like the whole world like and it's funnels and it's it's all this new. So I had no idea what it was to get someone to be able to buy from me versus just coming into my brick and mortar store. So that would be I could think a difference.
Yeah. Yeah, I mean I see you show up a lot and you post a lot on stories and stuff like um how did you get over that initially? I think sometimes people get into their own heads when it comes to showing up consistently.
I had to pay my rent. I went through a divorce. My husband took everything, locked me out of my businesses. In February of 2022, my mom paid my rent. Went from a $10,000 a month mortgage to trying to come up with rent. So, I was trying just to I I got to do something. They say you can make money online. Well, hey, I'm about to go online and start talking about LLC's and how to run a business and make something shake. So, I said, no one knew about me. I had like 10,000 Instagram followers. So, I have to now go make some noise. So, I said, "Every single day, I'm going to post three times on Instagram. I'm going to go live every single day." Now live was hard because I didn't have a lot of followers. So I used to put a post-it note on the top right part of the camera. So I would not know how many people were on and I would just have like a little posted like a like a little flashcard. I'm going to talk about these three contracts or these three things and I would just go on live and basically I was like doing a presentation on these. I didn't answer any comments. I wasn't even looking in the comments cuz I was scared. Is someone going to come? If someone know I I would just give information just and every single night I would just give information give information give information.
That's good. That's a good muscle to work on because even when nobody's watching, you're training your ability to create without having it to be edited. Which I think when people when most people who step into creating content, entrepreneurs or creators, the the idea that this can be edited kind of messes with the the delivery because then you're like, shoot, I have to start over. But when you're live, you're like, let's roll, right? And in a world where, you know, especially educators, especially people who are teaching online, nobody wants a polished no, you know, uh, learning experience, we want a human who's gone through the reps and done the things to just show us the way. And so, I think that's a really good You just gave a G.
Yeah. I I would imagine if people just did that for a year. Yeah. Just show up. Don't don't worry about anything else. Just show up and give and give value and then post the live on your page. So, I think what helped me grow so fast was when you came to my page, I had so much content. So, you could just binge on my content and that's you getting to know me. Like, oh, she's this, she's that, she teaches out this. So, it's kind of like watching a whole Netflix series. Like, you watch the entire series now. I'm sold. When is the next season? Right. So, the more content you have on your page, the more someone can know, like, and trust you.
That's right. And then hit that buy now button.
Yeah. And um most of the time when people start their business, which by the way this is actually something I wrote down was the the passion thing like with you having been involved with various different things because most of us start businesses from within and then we get very emotional and that's why we do everything and that's why we that's why we're we're either stuck under 100k or we're right there because we're doing it all. Um yeah. What's your philosophy on like building a business you're passionate about? building a business with your passion versus like no just build a business and forget the emotional side of it. I don't know what what's your take on that passion.
Build a business that you can make some money from. What's your talent? What's your gift? Your talent and your gift may not be your passion. So build a business that you can go sell something, make something. What do people ask ask you for? It may not be what you want to do. If you build a business to make the money, then you can you can fund your passion, but a business is is structure. It's showing up. It's it's delivering. And you have to be able to separate your passion from your business. It's two different things. You may not be passionate every single day, but you have to show up for your business every single day.
What What is a great first hire to make?
Whatever is the thing that is taking more of your time that doesn't need you, you need to reserve your time for what wherever you are being creative, if you're talking to the clients, if like whatever is your ump, you need to be do that all day, every day. So, if that means someone needs to answer the emails, um if someone needs to post on Instagram for you, like whatever is the thing that's taking up most of your time that doesn't need you, hire that first.
Where do you find people to hire?
You can go to I I like to ask people like there's there's a whole bunch of sites you can go to, but in I'm used to I'm used to managing employees. hard to find people that work good. It's hard to find a good employee. So, I like to ask someone, do you have a referral? Do you have like someone or I like to hire off of um character? I don't really I don't really need to know what you're doing, but character of a person. For example, I had I had a girl in one of my challenges and she was, you know, answering like she had these great questions. I liked her vibe. And so afterwards, I was like, "Hey, are you are you working right now?" Like, "Do you do you could you could you use like some some part-time work?" Cuz I was needing like an assistant that was here in the US, not just a virtual assistant. She was like, "Yeah." Like, "Well, hey, I'm cuz I liked her vibe. I liked her mindset." Like I I I hire off of who the person I can train you to do anything, right? But hire a person off of their character. So you can go to different site. I like to ask referrals. other people like, "Hey, where do you get your VA from? Do do they know someone?" Like, don't get into the company. Does your VA who produces? Do they know someone? They have a sister, a cousin, a friend because like like kind people hang out. So, if you have a great VA who's on time, um can multitask, can get the work done, her friend, her someone in her circle be the same going be the same kind of person.
That's good insight. Yeah, because I I found that like just even being involved in church and stuff, it's like talent like people who are uber talented, there's a pattern, and this is a general observation, but there's a pattern that they're usually entitled.
Mhm. And I would take attitude over talent any day.
Correct. Correct. Yeah, you can train them to do what you need them to do, but those fundamentals, that work ethic, that loyalty, that consistency, that can't be trained. That's in someone.
That's good. So, do you believe in investing in yourself to go to the next level?
Of course. What was the scariest first opportunity that you had where it was like, whoa, this is this feels beyond me, but this, you know, I got to make that investment in myself.
Um, for my brick-and-mortar business, my first investment was going on the radio. I thought I was going to spend $30,000 for about six months to get on the radio and they wanted $30 to $50,000 a month. And so I literally emptied out my savings and I only had enough for one month, signed a three-month contract like this has to work because if not I'm on the hook.
Wow. And it worked. We hit big big.
Your radio ad like worked.
Correct. That's crazy. What was the ad like?
First salon just in just advertising our salon, but we were the first salon to be on the radio and you have to have so many spins. You have to gorilla marketing. You got to be in someone's face all day every day for them to come. And that was the thing that took us from six figures to a lot of figures. The first thing, but you have to go all in. If if you are scared, if the number is crazy, if their heart starts beating, if you can't sleep at night, do it. That's the one. If you're comfortable because once you put that money out, oh, you're working. Yeah. You're working because you have to you have to make it back. This thing has to work. Like this mentorship has to work. This course has to work. This business has to work because you're all in for my online business. My um my first investment was going on a podcast where I paid a lot of money. I had done no advertising for about two years and I I just grew grew grew grew grew grew grew grew grew. But then I was like, "Okay, like I'm growing. Like I'm growing. I'm I'm making great money. I don't have any structure. I know there is some kind of pattern. I need to be doing something. I need to be having some kind of system, some something." So I went and got a mentor and they're like you need to do these podcasts and these street interviews. I'm about to go pay what to go talk to someone. I was like oh that doesn't make any cuz that the whole
Online world didn't make sense to me. What? But I was like, if you want to grow, joy, you you got to do it. So I just did it. And the crazy thing is, when I went on the podcast, my Instagram page got taken by a hacker. So for six months I'm going back and forth, and you know, they're saying I'm pretending to be Joy Hunt, and I'm like, "Instagram, I am Joy Hunt." Like, what is this? So I I invested like in four podcasts, two street interviews, and nothing could run. So I did all that money up front, and nothing ran because I didn't have my pay. Like, "Hey, can you just wait? Can you wait?" And for six months it was just nothing. And that's when the self the self-doubt comes in, like you just spend all this. I'm like, "God, I know you didn't tell me to do all of this for it not to work, right?" And so finally got my page back and had everything just kind of hit back to back to back, and my business just blew crazy numbers. So sometimes the crazier things happen for your good. You just don't know it in that in that season.
I was really I mean, I love that because actually I got my last year twice two times in the year, same thing happened where the and I had meta verification and all that stuff, and then um yeah, it was like they held my account ransom, and I knew the guy I mean, the me and the guy was going back and forth, but it was like a very interesting thing, and it happened during very key things going on in my business. I'm like, "Shoot." Cuz I love showing what I'm doing. And we do that really well. And when when anytime you're doing anything in your business, my my philosophy is like, make sure people see it. Correct. Cuz then people say, "Oh, that's what they do. Cool. I couldn't do that." And so everyone coming to my workshop, they were posting, but they couldn't tag me, right? And um and and it it is those moments that's like like you you almost have to think to yourself like, "Am I bigger than this just this one thing?" Like many times, especially if you're building a a good thing and and in my opinion a God thing, nothing could stop it, right? You know, it's and and and that's where like my removing the emotions with the things going on in my business has been key because I'm like, if anything happens, is is what we're doing a really good thing, and we are are we're helping a lot of people. Why would why would it stop? It wouldn't. Correct. It's almost like the force is just greater than than just a little hiccup, you know?
But I love that you're you value marketing. Oh, yes. And and a lot of people think that like that money is coming from and and this is where maybe we can get into the structure stuff because I realized that you can use the money you make in your business to make more money. Correct. Right. Like so so even though that like it's it's maybe a large number to join a mentorship or get in front of people, paid ads or whatever whatever that may be for people, but when you pay for marketing in your business, that is tax-deductible. Correct. You are incentivized to do those things if it makes sense for your business. What when is the proper time to really when when I say structure your business, I know what that means, but maybe some people don't like, okay, stop taking money into your personal bank account like cuz that's how most people start. When should they make that move of doing those things like and you know, whether that's the EIN, people don't even know what an EIN is like and all that stuff, so the the second the thought says, "I want to start a business," that's when you start. What do people have that thought like every day or every week, and it's a different business they want to? Which one are you really going to start? Okay, look. So, once you're going to start a business, then start it. If you have 10 businesses and you can afford to get 10 LLC's, then get the 10 LLC's. You're going to at least reserve your business name in the state that you form your LLC in. Okay. So, I would get my LLC. I would get my domain name. Where do you get the LLC? You're going to go to the Secretary of State. Okay. To form your LLC, or you can come to my to come to the firm. Uh, you want to get your LLC. You want to reserve your your web domain, godaddy.com. Get your branded email, info@yourbusname.com. We're not going to use Gmail or Yahoo or none of those things. Um, go ahead and reserve your social media. So, go ahead and at least reserve like protect the name. So, I I I know I'm going to start Joyce Joyy's Lashes. I'm going to get all my things for Joyy's Lashes. Then, for your business structure, you want to get your EIN, and that's going to be your tax ID for your business, like your social for your business. That's free on the IRS website. You then want to um get a business bank account. And you want to start putting the money from your personal account and depositing it into your business bank account to use your business expenses. You want to make sure though that you notate the money you're putting into your business on either a capital contribution agreement or an LLC loan agreement. The money that you're putting into your business, you're not going to pay additional tax on that. And that that could be a lot for somebody. Okay. So, I'm taking personal, which most people use your own personal money to start businesses. Let's say we're making shirts. I'm going to front the $5,000 to buy and print the shirts. Don't pay for that out of your personal. You're saying, uh, move $5,000 into that business account and then swipe. Correct. But how do you document that? Document it on a form either what's called a capital contribution agreement or an LLC loan agreement. A capital contribution agreement says, "I'm putting money into my business. I don't need a visit to pay me back. I'm like an investment." An LLC loan agreement is saying, "I'm putting money in, but once the business starts making money, I want to get paid back." Either or, it doesn't matter. You're going to take those forms and keep them with your corporate documents. At the end of the year, you're going to give them to your accountant or your CPA. So, if your business account had $10,000 in it for the whole year, but five of it on was from you on your capital contribution agreement or LLC loan agreement, your CPA knows, okay, although there's 10 grand in here, only five is income, and only five taxes should be assessed on, not the full. That's really good. I've never heard the documentation part of it.
Um, what would you say for somebody who's like, it's a mess. It's I mean, they've been doing it for a year out of their personal account. So, if you're doing it for your personal account, um, you can still write it off on a schedule C like as your if you're like a sole proprietor, you can still get the tax deduction. You want to just start running what I call it running your business like it's Walmart. Just running it for real because how you do anything is how you do everything. So you want you want to get accustomed to business expenses come out the business account. Leave your personal alone so that when your business starts growing, now we're growing with some structure, and now we can scale. If we're everywhere, maybe you have all of you maybe you have the clients, but if you don't have the structure, we can't scale, and we can't take it from zero to 100 because we're everywhere. We got Cash App, we got Zelle, we you know, we don't have our we're just everywhere. Yeah. No, it's really good because it's um it it's like sometimes people and I actually like your definition of this, but a lot of people who start just making money on the side, maybe they're not entrepreneurs, they're just making money on the side. Like what is your definition of an entrepreneur or a entrepreneur? Should everyone try starting their own business? We're in a world where like I literally go online. For me, it's just like, everyone build a business. Everyone build a business. Yeah. And I don't I I personally have come to the realization that like not everyone's an entrepreneur. But how do you know you are like you're I would say this, everyone isn't a full-time entrepreneur. Okay. It takes it takes a lot of grit, you know, to go out here and really, you know, um chop down this tree full-time, but I think everyone wants to make some money outside of their 9 to 5. So that is still an entrepreneur. You don't have to be a full-time entrepreneur. You don't have to quit your job to be an entrepreneur. If you want to make money on the side, you know, selling t-shirts, selling Peach Cabba, you're still an entrepreneur. You still have a business. And depending on how the business grows, you may have the next Facebook, the next Netflix. So in the beginning, start off like you're a real business. LLC, EIN, business bank account, branded email address. Just do that. Reserve your name, GoDaddy. And you can work your side business however you want. But eventually that side business may start making more money than your 9 to 5. And then you'll want to leave that up on over. What? Yeah. What's your advice on that? Like it depends on the personal one. Now me, I'm all in. If me and the bear are fighting, help the bear. I'm all in. So when my back's against the wall, like that's that's that's when I fight the best. So some people are all in risk. I'm quitting my job. I can now work for my law firm. I quit. I had six months of savings left uh saved up. I said, "I got to make something shake in six months." Started my own law practice. Did great. Right? Other people, you know, may not be able to take that jump, and that is fine. I want to kind of this whole myth you got to quit your job. You don't have to quit your job, right? But just you can start your business. You work a business, you work your job 9 to 5, and you work your side business 5 to 9, or you wake up 2 hours early, and you you know, you can sell digital products. You can you can just do a course on teaching makeup and just have an online business. There are so many other ways to get money that you don't have to just quit your job to do. Yeah. Yeah. I mean, my my thing was is what most people don't realize is everything they're seeing that is working is working with a minimum amount of focus. Correct? And so if it's doing this at maybe 30% focus, what would happen if you had 120% focus? Correct? you know, which is and I found it like personally in my business and my journey of being uh an entrepreneur is that there's different seasons where you have to put your back against the wall. It's it's like good for I found it I it's good for you like even getting this space. It wasn't a need. I didn't have to do this, but it created a void that I got to fill. And then my creativity, my imagination, they start it starts going out once you put yourself in that position, and it stretches you. And now you're probably a whole another person with bigger ideas because you you invested in this like, "Well, I got to do something with this big old place." Yeah. And even sometimes when you make a move, I found there are moves you can make in your business in any stage that could legitimize you from a perception standpoint. Correct. So, when I first got my studio, I got text messages from dads that knew me from like my last church was like, "Omar, I'm really proud of you." I'm like, "Bro, I've been building online for a minute." Like, I get I signed a three-year lease, and now you're proud of me. You know, but it was a it was a perception of legitimacy. And so, even moving in this space, which I haven't really like put out there yet, and I will, but yeah, somebody came down and a friend local and was like, "Hey, I want to do a virtual event. Can I do it at your spot?" I was like, "Yeah, sure." Mhm. And in my mind, I I thought I was going to charge 10 grand to rent out the big space with, you know, if you had a in-person event, but I was like, 10 grand to do a virtual event one day. And he's like, "Deal, let's do it." I was like, "Let's go." You know, that wouldn't have happened if you if I didn't put myself in that position. And now I didn't have that offer. Now I have an offer. Correct. You know, so I I I don't know what that is for you. You're listening. Maybe you're working a W2 or you're like ready to go to the next level in your in your business. Just know that like, will this move legitimize you from a perception standpoint, and I think it usually works like I don't know for me it's worked every time. Correct. Cuz not that's where the the that's where you the 1% is made. It's all from the people that are making moves that everybody else are unwilling to make. Correct.
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Once you go through it, go ahead and upgrade to VIP cuz you'll get an extra hour of bonus VIP Q&A with me every single day of the challenge. And so looking forward to seeing you there. Let's get back into the combo. Scariest. I mean, do you ever sign a lease on something like a building or something? All the time. So I believe in the concept first though. Get proof of get proof of concept that the business works. Then go and and and and put your money behind that. So go make money by Monday. Go do something today to go make a sale. However your business is. So don't wait until you have the packaging and just go make a sale today. Can does somebody want your product? Which product or service do they really want? Because you may be coming out with one thing, but they really want something else. So, a couple of weeks, a couple months, a maybe a couple years figuring that out. Once you have, okay, this is my bread and butter. This is working. Now, I go 10x that. So, when I first started my hair extension company years ago, 2008, I was selling my hair extensions on my law office conference room. I wasn't going to go buy commercial property. I want to make sure that you wanted this. Right? So you when you got a flyer, you're like, the Hunt Law Group, this is a little bootleg, but I put my money in my product and my packaging. It mirrored what the big boy hair extension company look like. So as my business took off, I okay, they really want this. Then I went invested in expensive, you know, prime location commercial property. And that just makes you legitimate. Um, I did that after I knew exactly what I was selling. This is what works. Okay. When I started my online business, I thought I was going to be the queen of LLC's. I'm talking about LLC's, LLC's. I did one video talking about a business grant and it just went viral. My DMs went crazy. Like, "Y'all know about business grants?" What? I was up for two weeks making a, you know, a digital product, business grant bundle. Boom, boom, boom. Changed my life. One digital product that looked bootleg. I was on YouTube trying to figure out how to make this ebook. The, you know, the colors was crazy. The but I had to get it out to sell it. Yep. And so once you have proof of concept that this is what it is, go put your money behind that and just go run with it. I love that. Business grant. What's a business grant? A business grant is going to be free money, debt-free money that you can get for your business to start or grow your business. um they have businesses, organizations that are just giving money away for businesses. They're going to want an LLC, EIN, business bank account. And then, of course, why do you need the money? So, I have a business grant bundle that breaks that gives you a thousand business grants, how to apply for them. You can Google business grants. They have websites uh skip.com, hellalance.com, grantwatch.gov of of organizations, businesses giving away 10, 15, $20,000 for your business that you don't have to pay back. So, I don't believe in just going into debt in the beginning, right? I don't believe in just maxing out the credit cards. Like, first figure out on a small scale what it is that you're doing and what get this thing working and then you can go 10x that with a loan, line of credit, or credit cards. Apply for business grants. The online application is simple. I have a course that breaks it down, but you they're you're literally just answering questions that they're asking you. But I think the game changer is don't make your business sound poor. I'm on my last leg. I don't have any clients. You want to ask for what do you need in your business to make more money in 30 days? Do you need equipment? Do you need um more inventory? Do you need marketing? Do you need to be at a certain conference? Like what do you need right now to make more money in 30 days? And you ask for that, and you explain how this thing or these three things are going to catapult me and help me get more contracts, more clients, and once you make your grant like that, you'll be winning more grants. Is it the same as a business loan? No, you don't have to pay this back. Omar, free money. Free free money. F r e e. Dang. Free. Yeah, because like the word that stood out to me was like if you need it, and my my thing is like, what if you don't need it? You just would like money and you don't want to pay for things yourself cuz then that would be a loan, right? So, how we're going to word it, Omar, is, you know, I have this great equipment, but if I had another camera guy or if I had another blah blah, I could I could have a larger event, I can take on more people, and that would make me more money. So, do you need it as far as I can't make money without this one thing? No. But this will help you scale your business, get to that next level. A lot of times you can't scale because depending on your industry, like if you are a if you do any kind of commercial cleaning or you're a truck driver, you work any kind of job that you're paid on a net 30, meaning you have to go do the do the service, upfront the money, and then get paid 30 days later. You can't skill without money because you got to have that upfront money to do those jobs. So, hey, if I had this money, I could have the supplies to clean more. I'm having to turn down office space opportunities because I don't have the money to scale. Dang. What's the success rate on that? Like people getting granted. So, what will improve your success rate is I say apply for five to 10 business grants every single month. You're going to get more confident in applying for them. And then number two, you're going to kind of you're going to be you're going to be putting more applications out there. I have I have clients I have customers that have my grandfather that win grants all the time in their business. Multiple grants. Wow. But you have to first apply. Apply. Make sure that you're answering the question. Make sure that your business looks like Walmart. LLC, EIN. If my brand colors are blue and red, I shouldn't have green, purple, and orange on there, right? And then make sure for marketing purposes that when someone jumps on your social media or your website, they know exactly how you help them.
A lot of times we want to talk about ourselves, how smart we are. They don't care about that. How do you solve the problem that they have, and how do they know immediately how you help them? That's good.
In simple terms, I know you've heard the "third grade spell and be champ" Believe those industry-specific words, those long sounds. Talk to a fifth grader so that everyone understands exactly what it is you're talking about, because a confused buyer doesn't buy. And a lot of times we want to sound smart or look like we're this big thing. It's not about you, right? It's about your customer understanding how you help them so they can come purchase your product and/or service. And that's that's really cool. I mean, I'm thinking about everybody who has like a business and they're doing all right, but it'd be really cool if they had the equipment.
Correct. That would help. That would take you to that next level.
Yes. Why have I never heard that?
Thank you. You're welcome. Is did you get that information being a business attorney?
I got that information being a business owner. So, um, when I had my son back in 2012, I actually stopped practicing law and I went full-time on my business. At the time, I had a hair boutique. And at my law practice, people always told me what bills they had as to why they need a payment plan. But at my hair boutique, they're telling me what bills are not going to pay because they want these hair extensions. I was like, I need to be in the business of the wants, not the needs, right? And so when I got pregnant, I was sick as a dog. My hair boutique didn't need me. It's making money without me being there. But I have to go put on makeup, a suit, heels, go walk to court to go make. So I was like, I need to do a business. I'm not exchanging time for money. So I actually said I'm I'mma go all in on my hair extension business, and my mother almost had a heart attack. You are a lawyer. You went to You're going to go sell hair. Anyone can go sell hair. You're out. I'm like, "Mom, I think I can make more money." I was I'm making like 20 grand a month being a lawyer, but I'm I think I can make more money over here.
How much did you pay to become a lawyer? Like what was that?
Oh, six figures. Yeah, that's four years. Well, I did five years of undergrad, three years of law school. I then went and got um a masters in tax law from SMU. So, I am a heavy six figures in student loans. Heavy. But when when when God gives you a vision, I never wore hair extensions a day in my life. My soon-to-be ex-husband showed have me um watched this movie called Good Hair from Chris Rock, and I saw the opportunity hair extensions. He had just started. He's like, "Hey, I think I want to do this business." We kind of partnered together, and God just said go all in. At the time of having the hair extension business, I also opened up a hair salon, super express, small little salon. But I was like, if I can make this the Forever 21 of hair services, I'll be rich because this is right around the recession. People are looking for affordability. This is all my all my businesses are affordable, low-end because there's going to be more Hondas than you see Rolls-Royces, right? And so I said, I'm I'm not going to go back to practicing law. I'm going to do 100% in my hair extension and and hair salon. And in one year, we grew that one salon to like three locations. Then we had it it literally just grew overnight.
What was that's there's a lot there, but like what was the like profit from after all expenses paid? Like how much was it doing? Because that's probably the in my opinion that's that would be the number that would get me excited because it's like I didn't have to be there and and it's I had to be there to run the salon.
Yeah. Oversee I had to be there to keep my foot on the neck to make sure everything was running correctly. But um this is going to be okay. So time frame we're around 2011 12. So before the big influx of being able to buy hair on Instagram, you couldn't just go anywhere US and just get hair like that, you had to import it from overseas. So the profit margin back then was 4 to one. So if I paid $10 for a bundle, I'm getting 40 for it. It was printing money. And so my whole thing is this once you know what's working, 10x it. 10x it. So, every time I made money, we were spending 60 $80 $100,000 a month just in buying the hair. But I'm 4xing it. It's it's it was a game changer. No one back then, everyone was doing like a $200 sew in. I'm advertising $50 sewins. Now, the gag is once you get in, I'mma upsell you. But to get you in, I'm I'm I'm advertising $50 sewing. Affordability that has some luxury ump to it. Sales. Fashion Nova, you can get you a a It's It doesn't scream cheap, right? It's not timu. When you walk in, you look like something, but it's affordable.
Yeah. So, once you find what's working, go all in, like all in. And when you go all in, it's it's going to hit.
Do you still have that now?
No. So, you sold them.
Sold them. closed them down and we went I went into the auto industry started a car dealership.
Why did you change industries?
So I wasn't able to remove myself from the business. I had to be there to manage. We had like a 100 employees, 100 women, you know, in the different locations. I never found someone that could duplicate me. So for you to scale, you have to be able to duplicate yourself. And I couldn't. So I'm having to manage all these things like yeah this is not scalable so we need to find something else because I can't be she put that flat iron down come to work on time where I can't do all this for for the rest of my life right so my um my son's father at my son's father was really into cars we had just taken a huge loss on buying all these cars he caught himself being like a little a little car trader right made all these mistakes mistakes, but it's the mistakes in business that are necessary. So, I said, "Well, now we know everything of what not to do. Why not just start a car?" Cuz we I know now we know everything not of what not to do. So, we started a car dealership, switched from being um bank financing to in-house financing. And that's where the money was. And you are the bank. When you sell one car to one person and then pick it up in 6 months and sell the same car to another person and then repo it in 6 months and then saying that sell that same car to another person, you're printing money. So it's a profitable very profitable cuz I I watch this guy, what's his name? George or I mean there's this like um Armenian dude or maybe Egyptian guy on social media. I don't know if you've seen him, but bald head guy and he's always buying cars and tra. It sounds like the profit margins are like not there. But you're saying if you if you're able to be the bank. So you're you're just letting people take the car and then just taking payment. It's it's almost like they're renting it.
No, they're buying it. Okay. So in-house financing, the in-house financing is that buy here pay where it's like the the bad credit people. So this your our target audience. I know they're not going to keep their car for more than nine months. They're going to default on their payment. So, if I buy a um if I buy a Dodge Charger, right, I pay $10,000 for it and you give me $3,000 down and you pay me $600 a month and then you only keep that car for six months and then I have to go pick it up. Then I sell it again for $4,000 down and then I pick that up in in less than a year the car is paid for. M now every time I sell that car and we get a payment is all profit. The more cars you have on the road, it's just you're you're literally just once you get once you own that car outright, you're just printing money. The the key is buying the right car at the right price so that you're in the car for not that much. So once you you you got to understand who what your target audience wants. So my target audience doesn't care about a car being in a car accident. Doesn't care about mileage. They want leather seats. They want Bose speakers. They want a nice body style. So we figured out what are the exact cars that our customers like and we only have those cars. So, we have only Nissan Maximas, only Nissan uh Nissan Maximas, Buick Regals, Cadillac CTS, Dodge Chargers, Dodge Challengers, Chrysler 300's. Um, what else am I missing? There's another one, but we have just those cars. That's really And they just come in repeat, repeat, repeat.
I love that the principle applies to everything.
Everything. You just found you just found a an a target audience, a need that they have.
Correct. And found the leverage in something being the middleman.
Correct. You know, that's really good. And do you still have that now or you move?
We uh still have it. That's the business that I said my husband locked me out of which I had to start my aunt. That's so we're still fighting over that business.
Yes. Mhm. How important is it? If if it's okay for me asking like how was it because you and your ex-husband, you guys were doing business together?
Yes. I mean, how do you Yeah. What like knowing what you know now, what is the wisdom around married couples and building together or like no babe, don't worry about it. I'll I'll I'll lock in. I don't know because I mean I love that Amanda is she gives me insight. She she helps with the money stuff. Um, but yeah, I mean, I know every couple's different, but I mean, you have some insight. I would I would
So, I would say there's no family in business, okay? Run it like it's a real business. Have the contracts you need. Whoever is running it, make sure that everyone's name is on the contract. Whatever y'all are agreeing is going to be your split. All of that's going to be in writing. So if you and your wife are in business together, still act like it is a a business partner. If you and your best friend are in business together, see a lot of times we bypass the formalities of business because that's my best friend, that's my father-in-law, that's my bo and no, it's treated like a real business because when something goes left all it's it's the person that's closest to you sometimes that has that knife and just going to rev it into you. So, making sure that you are running it like it's the person you're in business with is a stranger. I don't care if it's your mama. On paper, it's going to be like she a person off the street and we're going to map out everything in this contract and we're going to run it like it is Walmart. Your mom afterwards, but in this office, we're running it like it's Walmart. That's the mistake I made.
Yeah. I mean, I have a friend who it's it's a it's a mess like and they built together and even even just like the wisdom of like 5149 even just helps a lot.
Correct. Um because somebody needs to make the final decision and uh
Correct. Yeah, that's good. I mean it it's tough. It's tough to not back to the passion thing. you create a business from a from in within and like I'm so emotionally attached and um and then yeah you end up making emotional decisions like partnering with somebody that you enjoy but yeah I I I found that the more I took you know things less personal correct in the business correct it's like you know it just protects everybody you know and and by protect I mean so that we don't have a falling out correct you know everything is already allotted for. And then when something does happen, just know it's business. Like you can't you can't take it personal, right? Your favorite employee quit and left and started the same business. You can't take it personal. It's just business.
Good. I like those types of thoughts a lot of times come from a like a limited mindset or mentality that like I'm the only one that could exist. My thing is if if somebody comes through my doors, works for me and really like was present and did a good job and they felt because one day I felt correct. They felt like under my watch that they can do something. Maybe it's similar, maybe it's maybe it's the left field, but the fact that like I could have been a part of that, dude, I'm like go spread your wings, you know? It was it was actually a clip from Gary Vee that he mentioned that like no one's going to care about your business more than you. So stop trying to make your people uh love it as much as you do. It's impossible.
Correct? You know, they're just an employee, meaning they're coming here for the check. You're the person who invested your life savings. You're the person that's all in. They're like, I'm I'm here 9 to 5. Like I I when you worked at a job, you didn't care about the job how the owner did. So why would you expect another person too? And then if you are that person in the industry, I don't care who leaves and starts up. I'm still that person in the industry. You can go do what you want to do, but you you you can't do it like me. So you have to be okay with letting people go and do them and not taking it personal.
Yeah. Another question that is just from an observation, you know, with women starting businesses and being CEOs and um just crushing it, you know, in whatever capacity that may look like. What is your maybe maybe philosophy on how a woman kind of I think the the where I'm trying to get at is like not tap into something that they weren't like designed for. And when I when I say that, I mean, well, I'm not saying that from any other way that like the the mom and you got you got husband doing his thing and then there's kids at home, but the the the wife has a dream in her heart or a business she wants to build. How do you navigate that situation?
So the question is, how does a woman build a business if she also has responsibility of being a mom?
Correct. I guess a mom. Yeah. So, she would need to have number one a supportive and understanding spouse to understand that there I this is a passion or dream of mine. So, I want to fulfill this too.
Mhm. She would need to be creative. So, maybe we get up two hours before the kids get up and those two hours you're creating your content. You're working your business plan. you're shooting like you're you're you're you're working your business from 4:00 to 6:00 a.m. and then at 6:00 you wake up and you're getting the kids dressed blah blah blah. Especially if there's a large income disparity like if if if if husband's bringing in all the money, knocking out the mortgage. Well, no, mom. You talking about baking these cupcakes is not going to move him. But what you can do with these cupcakes is you wake up at 6:00 every morning or 4:00 every morning. You work your business and then you stay up two hours later. And on the weekends, maybe you may have to not do as many fun things that you want to do for your personal. You just kind of keep the family together and then spend the extra time working your business. And when them cupcakes start making money, see, money is going to move the husband. Once you start bringing some money in, now you got his ear. In the beginning, he's like, "Girl, what you want to do?" Cuz to him, he doesn't see the vision. But once you can get him dialed into the vision or once you can see, hey, this is working. I think a supportive spouse will support you.
That's good. Yeah. I mean, Amanda got her like real estate license and it's not like something she's like all in building and and she doesn't really have a It was kind of like a tag team move is like you get the real estate license. I know there's plays that we can do together together to really offset some stuff. Um, but I've just seen I've seen a lot of um friends and there's patterns a lot of single mom entrepreneurs and I I I get a sense that it's kind of like they made a choice or that they they they made a hard decision that this thing was taking away from the thing and if if you're going to stop me then I'm out. You know, I know it's kind of like this this is what comes to mind with
Okay. Now, the analogy I did was with this with the supportive spouse. Yeah. Okay. Now, there's going to be a spouse that's not supportive cuz I was kind of in in that, right? Like you need to do what I say you need to do and anything else. No. When you're with someone that's not supportive, that doesn't see your dream, that doesn't see that doesn't see who doesn't see you for who you want to be or who you are. like, "Yes, I'm a mom. Yes, I'm this, but I'm more and I want to achieve these things. And if you can't support me, then you're basically stifling me." And a lot of times women get a bad rap when they go make a decision that's best for them because we are raised that we're supposed to make that we're supposed to be that sacrificial lamb. And you're a good mom if you give up what you want for your kids. You're a good mom if you put your dreams on hold for your husband. You're a good mom and you're a good wife if everyone around you is happy and fulfilled and and they have baseball and crafts and this and dry cleaning. And it's okay for you not to get anything because your job is to fulfill everyone else's dreams. And when a woman does that, because I'm speaking from experience, not from what I Googled, the woman is tired, they're drained, and they are no longer themsel. M and it's like a life or death move. If you don't see me for who I am, if you don't allow me to actually go and spread my wings and be the person I'm designed to be, I'm leaving for me. It looks like I'm tearing the family apart. And how could you do that? On the plane, they tell you, "Put your mask on first and then you put your kids mask on." She put her mask on first. And if the interim is all this went to hell, it all went to hell. But it's not because she put her mask on first. It's because she was forced to put her mask on first. She didn't get the support at home that she asked for. Cuz a woman is not going to just leave. A woman doesn't just say she's going to try a thousand1 times. She's going to say it 15 times. We going to holler. We going to cry. We going to do it. You didn't hear me. I'm walking away because I'm fighting for me. If I don't fight for me, I'm going to die. And if I die, nothing gets accomplished. So for there's a woman who is no one I I'm I'm I'm struggling. Walking away will be saving you because it saved me.
Thank you. And you can rebuild. You can regrow. You can teach your kids about how to um Mommy works. Yeah. Do you want these Roblox? You want to go to Disneyland and have this fast pass and not wait in line? You want to have these sneakers? You want you want to do all these things. Mommy has to work. So mommy's on the Zoom. So he knows mommy's on a Zoom. Mommy's making money. If I'm on a phone call, mommy's making money. He your your kids will understand. You can also make your life work around your kids. So a lot of my if you go to my social media page, I'm live at 9 10 11 at night because I'm a mom in that afternoon evening time. I'm working my business around my kids. But um sometimes you're going to have to just do it yourself. Yeah, digital products to me will be a great way of getting another streaming income that doesn't take your time away. But if God tells you something and your spouse is not being supportive, I'm not trying to, you know, have women just file for divorce. But I think there needs to be some grace to a woman that, you know, stands up for herself cuz a man can always do can always make
A decision, and whatever the man says is best, and everyone goes with the flow. But whenever a woman makes a stand, it's always like she's supposed to dumb herself down, or our job is to put everyone's needs above ours, and we come last. And that's that's not the case.
Thanks for sharing that. That's so good.
You're welcome. I was uh I was convicted like years ago when I went to a friend's event, who she she puts on these masterminds, and it's it's amazing, and I the way I saw her, the way her husband like supports her in doing this, and uh the question was like how do like how do you you know lead, maybe the question is like lead or like do your thing, and his thing is my thing is to support her thing, and I I don't regardless that that's husband or wife. It's like husband, your thing is to support her thing, and then wife, your thing is to support his thing, and it and that's when like the it just becomes beautiful, and then you do have the the supportive roles on each other, and it's a team sport, man.
Yeah. It's that ying and yang, like um I think who does a great a great well I don't know them personally but online who I think who does a great job with this would be Grant Cardone and Elani Cardone, like you know for for I've been following Grant since he had a minimal social media following, and then he went on like this blitz, and I'm just like oh he's doing something new, but you never really saw his wife; it was just him just him just him just him just him, and then after he made it, you know, she pops up with her brand, and and it's like she and she talks about being in that supportive role, like a a a marriage or a partnership, it's never 50/50, right? It's it may be 80/20, 70/30, like whatever you have, whatever is missing I'm I'm I'm I'm coming up with it. But knowing how to lead and then be submissive or support, knowing that ying and yang, having that balance is priceless in any kind of partnership or marriage. And if you find someone that like they're able to, you know, support you, you support them. Um, you guys can kind of just have that nice mix.
Hold on to that one for dear life.
So, hold on to Amanda, Omar. Hold on. She sounds like a good one.
Yeah. So good. Well, thank you so much for being on. How can people connect with you? I know you got like a an online event coming up.
Or I do. I have a five-day business challenge. I also have a master class. Um, you're going to go to see you atthebank.com, and all the information will be there.
What can you what can people expect to learn in that challenge?
Oh, in my five-day business challenge, I'm going to get your business to the bank. Gorilla marketing happening right now. Ready? Get ready. All right, go.
Yeah. You're going to learn how to structure, fund, and market your business to the bank. We're going to go over business structure. How do you structure your business? How do you form your business? How do you run your business? We're going to go over how do you protect your assets, withholding companies, trust, parent companies. Something is going to go wrong in your business. When it goes wrong, we don't want to lose everything. You're going to learn what contracts you need in your business to protect you. You're then going to learn how to get business funding that is solely in the business EIN. No need to be a personal guarantor. So, establishing business credit and business grants. And then last but not least, marketing. How do you get your target audience to run to your brick and mortar or to your website? I'm going to teach you how to find your target audience. How to stop being shy and be able to be creative and attract that attract that target audience. And then last but not least, the product that saved my life, digital products. How to make an item, a product, an ebook, a checklist, a course, and sell it in your sleep. Sell it being in the carpool lane at your son's school. Sell it being at volleyball practice. How do you make a digital product to additional thousand $5,000 a month of income into your household? See you at the bank.com. I will see you there.
Oh, good. I love it. Thank you. I made my mortgage for six months from a digital product all from one YouTube video doing the marketing. That's when my brain broke. It was like YouTube video, digital product, which digital. You don't fulfill it. You don't have to go to the ship it.
Correct. And usually there's no returns because they got what they knew they're buying. And so good stuff. I'm I'm excited for people's mortgages to be paid off. So we'll post links down to everything in the comments and show notes. I appreciate you for being on. Thanks for coming to Vegas.
Thank you for having me.