Latest / The Steve Harvey Morning Show / Herman Dolce Full Interview

Transcript

Herman Dolce Full Interview · The Steve Harvey Morning Show

• 0:00
  Speaker 1: Still living in manually taking notes. There is a better
• 0:03
  Speaker 1: way to start the new year with auto dot ai
• 0:05
  Speaker 1: automatically get meeting notes. Auto dot ai works for virtual
• 0:09
  Speaker 1: meetings like Zoom, Microsoft Teams, and Google Meet. Sign up
• 0:11
  Speaker 1: on the web for free or download in the app
• 0:13
  Speaker 1: stores auto dot ai. That's O T T e r
• 0:16
  Speaker 1: dot Ai. This podcast is sponsored by Better Help Online Therapy.
• 0:20
  Speaker 1: I'm Michlene Maloof and I'm Nadiadesi, licensed therapists and hosts
• 0:24
  Speaker 1: of Getting Better Stories of Mental Health. Join us for
• 0:27
  Speaker 1: discussions with Megan Trainer, Chris Bosh, Rebel Wilson, and more,
• 0:30
  Speaker 1: from discussing motherhood to immigrating to general mental health. Our
• 0:34
  Speaker 1: guests are awe inspiring. We all struggle with the same things,
• 0:37
  Speaker 1: so let's talk about it and de stigmatize them. Find
• 0:40
  Speaker 1: our new podcast, Getting Better Stories of Mental Health on
• 0:43
  Speaker 1: iHeart Apple Podcasts and Spotify. Sticky notes email alerts a
• 0:50
  Speaker 1: string around your finger. They're just not big enough. So
• 0:53
  Speaker 1: here's a big reminder from the California Lottery. Tomorrow's Mega
• 0:56
  Speaker 1: Millions jack potties over three million play now please. Players
• 1:00
  Speaker 1: must be eighteen years older to purchase player find Yes.
• 1:03
  Speaker 1: This is Rashan McDonald and welcome to Money Making Conversation.
• 1:06
  Speaker 1: I am your host each Money Making Conversation talk show
• 1:09
  Speaker 1: that it is about entrepreneurship and entertainment. I provide the
• 1:13
  Speaker 1: consumer and business owner access to interviews with celebrities, CEOs, entrepreneurs,
• 1:17
  Speaker 1: and industry decision makers. It's important to understand that everybody
• 1:20
  Speaker 1: travels a different path to success. That's because your brand
• 1:24
  Speaker 1: is different. The challenges you're facing your life are different.
• 1:27
  Speaker 1: So stop reading other people's success stories and start writing
• 1:30
  Speaker 1: your own. Now. You can be motivated by their success
• 1:32
  Speaker 1: because their stories can offer direction and help you reach
• 1:35
  Speaker 1: your goal through your plan and committed effort. The Money
• 1:38
  Speaker 1: Making Conversation interviews provide relatable information to the listener about
• 1:41
  Speaker 1: their career that you can have in financial planning, entrepreneurship, motivation, leadership,
• 1:47
  Speaker 1: overcoming the arts, and how to live a balance life.
• 1:50
  Speaker 1: It's really important and I appreciate everybody who listens to
• 1:53
  Speaker 1: Money Making Conversation. As the brand continues to grow, UH
• 1:56
  Speaker 1: not only in the United States, but worldwide Canada, Ireland
• 1:59
  Speaker 1: or straight Your New Zealand. Really starting to notice a
• 2:02
  Speaker 1: lot of people are starting to listen to the show
• 2:04
  Speaker 1: via podcast and via syndication in the United States. My
• 2:07
  Speaker 1: next guest is the CEO and owner of Bella Sloan Enterprises.
• 2:12
  Speaker 1: His company not only helps you repair your personal credit,
• 2:15
  Speaker 1: but also educates them on the topic. In addition, his
• 2:19
  Speaker 1: company helps small to medium sized companies with funding via
• 2:22
  Speaker 1: their credit that bear their VI business credit. His company
• 2:25
  Speaker 1: has been in operation for with thirteen years in the
• 2:28
  Speaker 1: Philadelphia area. He has turned his passion of helping others
• 2:31
  Speaker 1: into a thriving business. Please welcome to Money Making Conversation.
• 2:35
  Speaker 1: Herman Doshi, Good morning, Good morning, Thank you for having
• 2:39
  Speaker 1: me today. I appreciate you, my friend. Life is good
• 2:42
  Speaker 1: for you. And I'm I'm assuming you're in the Philadelphia
• 2:45
  Speaker 1: area right now. Yes, I am. We all hunkered down
• 2:48
  Speaker 1: right now, have good Well, I'm hunkered down in Atlanta.
• 2:51
  Speaker 1: I would love that I got I'm a Texas boy,
• 2:53
  Speaker 1: so born to raise in Houston, so I want to
• 2:56
  Speaker 1: get back to Texas. But you know, right now I
• 2:58
  Speaker 1: got all the family Atlanta dealing with this pandemic and
• 3:00
  Speaker 1: not allowing it to win. I want to reach something
• 3:03
  Speaker 1: that I took from your website about your mission statement
• 3:05
  Speaker 1: before we start the interview. It's a good really positive statement.
• 3:08
  Speaker 1: Our mission is to help our clients reach financial literacy
• 3:12
  Speaker 1: through through credit education and repair. In addition, we teach
• 3:16
  Speaker 1: and help entrepreneurs to obtain the capital and credit they
• 3:20
  Speaker 1: need to fuel their dreams. Whether you are just starting
• 3:23
  Speaker 1: your business or looking for millions in capital to expand,
• 3:28
  Speaker 1: we have solutions that can help you fund your endeavor.
• 3:30
  Speaker 1: That's your mission statement. Correct? What does that mean in
• 3:35
  Speaker 1: the sense as far as because you went from so
• 3:37
  Speaker 1: like you can go from the small businessman to the
• 3:39
  Speaker 1: multimillion dollar business is trying to move forward in a
• 3:42
  Speaker 1: stronger direction? How do you balance that? That? That that extreme?
• 3:48
  Speaker 1: So when when what what I like to do is
• 3:51
  Speaker 1: when I'm doing promotions or advertising social media, or when
• 3:55
  Speaker 1: I'm speaking in front of a group of people, I
• 3:57
  Speaker 1: like to present the end gold potential clients. So the
• 4:01
  Speaker 1: goal is to be successful in your business, whether it's
• 4:03
  Speaker 1: monetary or the amount of people that you're helping. Right,
• 4:06
  Speaker 1: And we're showing the you know, real estates or people
• 4:10
  Speaker 1: that are in trucking the open restaurants, right, So we're showing,
• 4:13
  Speaker 1: we're showing that future goal. Why I do that is
• 4:16
  Speaker 1: because in order to get to that goal where I'm
• 4:18
  Speaker 1: where I'm helping the small and medium businesses. We have
• 4:22
  Speaker 1: to backtrack to how they got there, and how they
• 4:25
  Speaker 1: got there was through financial literacy, which started with having
• 4:28
  Speaker 1: a budget, saving your money, investing it wisely, and also
• 4:33
  Speaker 1: primarily repairing your credit. Because that's how a lot of
• 4:36
  Speaker 1: my beginning entrepreneurs started to get the capital to fund
• 4:40
  Speaker 1: their dreams. It all started there. So that's why I
• 4:42
  Speaker 1: really push it for our community and all communities to
• 4:45
  Speaker 1: be really, really literate and how the credit system works.
• 4:49
  Speaker 1: You know, it's the really interesting to me when you're
• 4:51
  Speaker 1: talking about are we talking about business credit or just
• 4:53
  Speaker 1: a personal credit? All you're just talking about yes, yes,
• 4:58
  Speaker 1: because we all started we all start out with personal credit.
• 5:00
  Speaker 1: We're all, we all start out there. You know. It's
• 5:02
  Speaker 1: it's always a joke, you know how you know people
• 5:05
  Speaker 1: use their kids to co sign for loans. It's running
• 5:08
  Speaker 1: joke within the you know in the urban communities. And
• 5:11
  Speaker 1: if you might own a you might own a car,
• 5:13
  Speaker 1: didn't even know it, you know, because your mom wanna
• 5:15
  Speaker 1: get dad put your name in it and messed up
• 5:16
  Speaker 1: your credit. So how does one For some reason, I
• 5:20
  Speaker 1: would tell you this, Herman, for some reason, when I
• 5:22
  Speaker 1: was eighteen, I knew I had to have good credit
• 5:24
  Speaker 1: for some reason. I was very protective of my credit
• 5:26
  Speaker 1: when and I got my first serious card. And you know,
• 5:29
  Speaker 1: I'm gonna call out some old credit cards to Montgomery Ward.
• 5:33
  Speaker 1: You know, man, I was happy, man J. C. Penny.
• 5:36
  Speaker 1: And when I got there a serious card back there
• 5:38
  Speaker 1: was We got a serious card back. There was just
• 5:40
  Speaker 1: like getting a green American Express card. That was like
• 5:43
  Speaker 1: that was like the bomb to get a serious card.
• 5:46
  Speaker 1: So how do how does one look at it today?
• 5:49
  Speaker 1: How does one protect their credit? First of all, and
• 5:51
  Speaker 1: how does one I'm gonna ask you two questions. How
• 5:53
  Speaker 1: do you want to protect their credit? Personal credit? We're
• 5:55
  Speaker 1: gonna talk about that first, and then how does one
• 5:57
  Speaker 1: build their personal credit? So let's start with building it first,
• 6:02
  Speaker 1: and then we'll talk about protection of it. So building um,
• 6:06
  Speaker 1: the credit first again starts with you understanding it and
• 6:10
  Speaker 1: being educated on it. So the older your credit is,
• 6:13
  Speaker 1: the better it is, and being educated on it. So
• 6:15
  Speaker 1: I got my first credit card when I was seventeen
• 6:18
  Speaker 1: years old. I'm thirty nine right now, so my credit
• 6:20
  Speaker 1: is really really old. So start early. Educate your children
• 6:23
  Speaker 1: and your youth on credit and how it's definitely gonna
• 6:26
  Speaker 1: help them UM later on in life because UM, as
• 6:29
  Speaker 1: your credit ages, you're gonna get credit limit increases. So,
• 6:32
  Speaker 1: like one of my oldest credit cards is like fifteen
• 6:35
  Speaker 1: sixteen years old. It's an m X and it has
• 6:37
  Speaker 1: like a twenty five dollar limit. Now that type of
• 6:40
  Speaker 1: credit card on my credit report makes me look really
• 6:42
  Speaker 1: really strong as opposed to someone who's thirty five and
• 6:47
  Speaker 1: they just started working on their credit and they have
• 6:50
  Speaker 1: like a secure card with a limit of five hundred dollars.
• 6:52
  Speaker 1: We both could have a seven hundred credit score. But
• 6:55
  Speaker 1: my profile looks better because it's thicker and it's an
• 6:58
  Speaker 1: older card. And that's not the only one I have
• 7:00
  Speaker 1: on there. I have a car note, you know, I
• 7:01
  Speaker 1: have a mortgage. I have demonstrated to the banks that
• 7:05
  Speaker 1: I have been responsible with money over X amount of time.
• 7:08
  Speaker 1: So that's why I teach people to start building your
• 7:10
  Speaker 1: credit young. The older it is more stronger it gets. Now, UM,
• 7:16
  Speaker 1: protecting your credit is a daily, monthly UM responsibility. I
• 7:22
  Speaker 1: tell people all the time, how UM like me. All
• 7:27
  Speaker 1: my credit cards are on auto pay right because life happens,
• 7:32
  Speaker 1: you will forget. I agree with you, you know, because
• 7:37
  Speaker 1: I've been I've resisted to that auto pay, you know,
• 7:40
  Speaker 1: because I hate people taking money without me controlling that.
• 7:43
  Speaker 1: That's the words. It's wor. But I don't care how
• 7:48
  Speaker 1: small it is, it's still bothers me. I was like, no,
• 7:50
  Speaker 1: I want to log in and do it myself. But
• 7:52
  Speaker 1: what I what I will say though, is um, from
• 7:55
  Speaker 1: my this is a great tip for my new um,
• 7:58
  Speaker 1: my new people who are new to building credit and
• 8:01
  Speaker 1: they had that habit that got them into um, negative credit.
• 8:06
  Speaker 1: So I want to start new positive habits. And then
• 8:10
  Speaker 1: when you're responsible enough, Hey, you know I can log
• 8:12
  Speaker 1: in every day to do that, but I give that
• 8:13
  Speaker 1: tip to you, don't do it yourself, um right now,
• 8:17
  Speaker 1: So I mean put it on auto pay. So with
• 8:20
  Speaker 1: the auto pay, though, just put in the minimum that's required.
• 8:26
  Speaker 1: So say, for instance, you know it still is a
• 8:28
  Speaker 1: thousand dollars, right, just the minimum payment of fifteen dollars
• 8:31
  Speaker 1: a month. Have them take it out, right. You don't
• 8:34
  Speaker 1: need to pay it all off. Just if you just
• 8:36
  Speaker 1: pay the minimum. You've never been late, and as you
• 8:40
  Speaker 1: pay down the debt and you throw chunks at a
• 8:42
  Speaker 1: I'm just gonna put it ext your two D stimulus
• 8:44
  Speaker 1: check came in. Let me put this extra thousand. That's great,
• 8:46
  Speaker 1: and your credit score goes up. The less debt urine.
• 8:49
  Speaker 1: But as long as you paid it on time every
• 8:51
  Speaker 1: single month, that's something that's the that's the most important
• 8:54
  Speaker 1: thing on your credit is not being late. We'll gonna
• 8:56
  Speaker 1: tell you some man learn something right there at the minimum.
• 8:59
  Speaker 1: Because I'm a resistant guy. You know right now, I'm
• 9:01
  Speaker 1: fortunate and my credit score I checked before I got
• 9:03
  Speaker 1: on the interview, which was eight hundred and thirty. That's
• 9:06
  Speaker 1: my credit score, the most the highest you can get,
• 9:08
  Speaker 1: eight hundred and fifty and so and so. But I
• 9:12
  Speaker 1: also know that Rushan has missed like this year, I
• 9:16
  Speaker 1: missed a couple of payments because I've been resistant to
• 9:21
  Speaker 1: my my because I have my Chase card and then
• 9:23
  Speaker 1: I have my City Bank card, which you know I
• 9:26
  Speaker 1: can pay the minimum, like you said, okay and so,
• 9:29
  Speaker 1: and I missed him a couple of times where if
• 9:31
  Speaker 1: I just did taking your advice and just reshing just
• 9:35
  Speaker 1: me the minimum, just put the minimum auto, I wouldn't
• 9:38
  Speaker 1: even have missed. I don't know you can do that.
• 9:40
  Speaker 1: I always felt that when you talk, when you put
• 9:42
  Speaker 1: it on auto, you gotta pay the maximum of that month.
• 9:45
  Speaker 1: And that's what I've been doing. Resistant Okay, cool, got you? No, No,
• 9:48
  Speaker 1: not just a minimum. That's all you need to pay.
• 9:50
  Speaker 1: So whether the that is still there or not, thirty
• 9:53
  Speaker 1: or credit scored, the most important factors just paying it
• 9:55
  Speaker 1: on time, so you know when you crossed the bench
• 9:58
  Speaker 1: and you have that chunk to pay down and paid down.
• 10:00
  Speaker 1: But just don't be late. That's the beauty of talking
• 10:03
  Speaker 1: to an expert. That's what the harm adult. You're an expert.
• 10:06
  Speaker 1: Let's listen. I started to ask you some general questions,
• 10:09
  Speaker 1: and we know that you've been and you've been in
• 10:11
  Speaker 1: this business for thirteen years. You know that the name
• 10:14
  Speaker 1: of your company is uh, Bellastone Enterprises. First of all,
• 10:18
  Speaker 1: tell us tell us about that name, and then tell
• 10:21
  Speaker 1: us about your business. So Bellastone Enterprises is um. You know,
• 10:25
  Speaker 1: there's a difference between having a hobby and running a
• 10:28
  Speaker 1: real business. So you know I've been dippling dality and
• 10:31
  Speaker 1: credit credit for quite some time. Right, I had to
• 10:34
  Speaker 1: put a pen in that story. So Bellas is the
• 10:37
  Speaker 1: name of my daughter, my first one, and um, when
• 10:41
  Speaker 1: I was on my baby moon with my wife, we
• 10:44
  Speaker 1: went to Italy, Right, I was still working at the time,
• 10:47
  Speaker 1: had a full time job. Wonderful, amazing trip. We've gone
• 10:50
  Speaker 1: for fourteen days, traveled all over Italy and we were
• 10:54
  Speaker 1: on a train to pizza right and I realized. I
• 10:58
  Speaker 1: was like, wow, I wish I can do this whenever
• 11:00
  Speaker 1: I want, right, But what happened was I had to
• 11:03
  Speaker 1: ask somebody permission to be gone for fourteen days, and
• 11:06
  Speaker 1: it bothered me the entire trip. Got home, I spoke
• 11:09
  Speaker 1: to my brother, he's also an entrepreneur, has his own business,
• 11:12
  Speaker 1: nine business consultation, and he was like, listen, the only
• 11:15
  Speaker 1: way you'll be freeze if you own your own or
• 11:17
  Speaker 1: else you'll always have to ask somebody permission. And I
• 11:20
  Speaker 1: was like, well, what business am I gonna start. He's like, listen,
• 11:22
  Speaker 1: you've been doing credit prepair for everybody for free because
• 11:25
  Speaker 1: it was just something important. It really I was doing
• 11:28
  Speaker 1: it for free. It was a skill that I learned
• 11:29
  Speaker 1: a while ago when my father's UM information got on
• 11:33
  Speaker 1: my credit report and I had to write the letters
• 11:36
  Speaker 1: to fight it, and he was like, you should charge
• 11:39
  Speaker 1: people to do it. I was like, like, this is important.
• 11:41
  Speaker 1: He's like, no, they're going to pay somebody. They might
• 11:44
  Speaker 1: as well pay you thank you. So I was like,
• 11:47
  Speaker 1: I was like, you know what, You're absolutely right. So
• 11:49
  Speaker 1: I got a couple of friends I did their credit
• 11:51
  Speaker 1: reports for free, and then I started posting their results
• 11:55
  Speaker 1: on social media and then the business started growing and
• 11:59
  Speaker 1: booming from there. And what else helping my business grow
• 12:02
  Speaker 1: is that giving in people valuable information for free. It's
• 12:07
  Speaker 1: super important because if you're giving me such valuable information
• 12:11
  Speaker 1: for free, imagine if I pay you. So that's how
• 12:13
  Speaker 1: I started building my business. You know, it's really interesting
• 12:17
  Speaker 1: because we do that. We're afraid to charge people for services.
• 12:22
  Speaker 1: Sometimes we're afraid to put a dollar amount because you're
• 12:25
  Speaker 1: afraid to lose the relationship. Or if they say no,
• 12:27
  Speaker 1: what if they start talking to you? But guess what
• 12:30
  Speaker 1: if the only reason they're talking to you because you're
• 12:31
  Speaker 1: providing the pre service, you might want to stop talking
• 12:34
  Speaker 1: to them because they're using you. I'm really enjoying the conversation.
• 12:38
  Speaker 1: I'm talking to the CEO and on a Bella Slan Enterprises.
• 12:41
  Speaker 1: His company not only helps you repair your personal credit,
• 12:44
  Speaker 1: but also educates you on the topic. His name is Herman.
• 12:47
  Speaker 1: Don't you We'll be right back in our next break.
• 12:49
  Speaker 1: We're gonna have a lot of more questions. You know
• 12:51
  Speaker 1: when right now in the middle of it, COVID ninteen.
• 12:54
  Speaker 1: You know everynledge is p P P. Is the government
• 12:56
  Speaker 1: really gonna help us this time around, because I know
• 12:58
  Speaker 1: I missed out on that loan las time, so I'm
• 13:01
  Speaker 1: not happy and I'm not I'm not comfortable I'm gonna
• 13:03
  Speaker 1: get something this time, Arani either be right back for
• 13:06
  Speaker 1: more money making conversations. It's finally here, the season of celebration,
• 13:12
  Speaker 1: and no matter how you celebrate with family and friends,
• 13:15
  Speaker 1: whether you're preparing for reis magos or Karamu lighting the Manura,
• 13:19
  Speaker 1: are going to midnight mass, Coals has just what you
• 13:22
  Speaker 1: need to make those traditions special. Plus you'll find gifts
• 13:26
  Speaker 1: for all your loved ones. Send warm wishes with Cozy
• 13:29
  Speaker 1: Fleece's sweaters, loungeware, blankets and throws. Support minority owned or
• 13:34
  Speaker 1: founded brands by giving gifts from Human Nation and Shame Moisture,
• 13:38
  Speaker 1: or treat them to everyone's favorite active wear from top
• 13:41
  Speaker 1: brands like Nike, Adidas, and under Armour. And in the
• 13:45
  Speaker 1: spirit of giving, Coals Cares is donating eight million dollars
• 13:49
  Speaker 1: to local nonprofits nationwide committed to the health and well
• 13:52
  Speaker 1: being of our communities. No matter how you celebrate, when
• 13:55
  Speaker 1: you shop at Coals, you're right where you belong. So
• 13:59
  Speaker 1: the season give with all your heart with great gifts
• 14:02
  Speaker 1: from Coals or Coals dot com. Whether your event needed
• 14:05
  Speaker 1: one room or an entire conference center, hoppin has revolutionized
• 14:09
  Speaker 1: the way people come together. With hoppin, you can host
• 14:12
  Speaker 1: a fully fledged digital meet up, complete with one on
• 14:15
  Speaker 1: one meetings, hands on sessions, and expo booths. And because
• 14:19
  Speaker 1: everything is hosted in a single, easy to use platform,
• 14:22
  Speaker 1: it can be as big or small as you want,
• 14:24
  Speaker 1: remain convenient for anyone who wants to attend, and give
• 14:27
  Speaker 1: you access to data you never would have known otherwise.
• 14:30
  Speaker 1: Visit hoppin dot com to learn more and get started.
• 14:34
  Speaker 1: Still living in and manually taking notes start the new
• 14:38
  Speaker 1: year with auto dot ai to generate automatic notes for meetings, interviews,
• 14:42
  Speaker 1: or lectures. With auto dot ai, you can search the
• 14:45
  Speaker 1: meeting notes, insert images, playback the audio, and share them
• 14:48
  Speaker 1: with your friends or coworkers. You can capture action items,
• 14:51
  Speaker 1: remember meeting details, and keep everyone informed. Auto dot ai
• 14:55
  Speaker 1: works for in person or virtual meetings like Zoom, Microsoft Teams,
• 14:58
  Speaker 1: and Google meet. Sign up for Afraid at auto dot
• 15:01
  Speaker 1: ai or download the app for free auto dot ai.
• 15:04
  Speaker 1: That's O T T E R dot Ai. Hi. This
• 15:08
  Speaker 1: Rashan McDonald and you're listening to money making conversation. Always
• 15:11
  Speaker 1: having a good time on this show, always talking to
• 15:12
  Speaker 1: individuals who come on the show to make a difference
• 15:15
  Speaker 1: in your life. They have passion. They turn that passion
• 15:17
  Speaker 1: into money. They turn that money into a career. They
• 15:20
  Speaker 1: turned their career into life, a future that they can
• 15:23
  Speaker 1: control their own destination. I know there are a lot
• 15:25
  Speaker 1: of people out there who are working for people. This
• 15:28
  Speaker 1: is not a slam on you, but this is an
• 15:30
  Speaker 1: opportunity to show you even if you're working a ford
• 15:33
  Speaker 1: our week job, you can be successful in that four
• 15:35
  Speaker 1: day our week job if you have the right techniques,
• 15:37
  Speaker 1: the right understanding. But right now I'm talking to all
• 15:41
  Speaker 1: entrepreneur who went for fourteen days on the trip and
• 15:44
  Speaker 1: he was mad for fourteen days. You had to ask
• 15:48
  Speaker 1: for permission to be gold for fourteen days. You know,
• 15:51
  Speaker 1: it's really great that something has to trigger that level
• 15:54
  Speaker 1: of inspiration. You know something has to going off in
• 15:57
  Speaker 1: your mind. Go you know something, man, I can do better.
• 15:59
  Speaker 1: I can be better I can. I can. Uh, I'm
• 16:02
  Speaker 1: not an a forty hour week guy. But it's also
• 16:05
  Speaker 1: a fear that's tied to that, isn't it. Talk about
• 16:09
  Speaker 1: that very very much so because you know there there
• 16:14
  Speaker 1: is a safety net and if I do this, somebody's
• 16:17
  Speaker 1: gonna give me this right that that that work week.
• 16:20
  Speaker 1: And you know, I'm not saying anybody's brain washed or
• 16:23
  Speaker 1: you know what makes you happy, it's good for you,
• 16:25
  Speaker 1: right then do that. Um. But what I realized was, UM,
• 16:30
  Speaker 1: when I started processing that trip and the permission of
• 16:33
  Speaker 1: it all was that I was kept. They decided what
• 16:36
  Speaker 1: my value was worth. I couldn't make more money if
• 16:40
  Speaker 1: I wanted to write. But you know, there are people
• 16:43
  Speaker 1: out there that are actually doing it. Don't let me
• 16:45
  Speaker 1: see that, because once I saw it and I was like, wait,
• 16:47
  Speaker 1: this guy makes what I make in a month, or
• 16:49
  Speaker 1: he makes when I'm living a week, So it can
• 16:51
  Speaker 1: be done. So now that I know it can be done,
• 16:54
  Speaker 1: I'm going to figure out how it can be done.
• 16:56
  Speaker 1: So I could, you know, leave a legacy um for children,
• 17:00
  Speaker 1: so you know, um, everybody picks this credit. But learning
• 17:03
  Speaker 1: how to build a brand, learning how to be give
• 17:06
  Speaker 1: good customer service, learning how to be the best credit
• 17:09
  Speaker 1: repair person I can be in show businesses. How to
• 17:11
  Speaker 1: get funding is what elevated UM my business after that? Cool?
• 17:15
  Speaker 1: Now that's key right now. Okay, we talked about the
• 17:18
  Speaker 1: personal credit. Okay, we all that's relatable to anybody because
• 17:21
  Speaker 1: you have to go personally before you go to business.
• 17:23
  Speaker 1: Now let's shift over to to the business side, because
• 17:25
  Speaker 1: you know that was a part that confused me, you know,
• 17:28
  Speaker 1: having to get it done in Bradstreet number, gott to
• 17:30
  Speaker 1: establish all these difference, a lot of different techniques that
• 17:33
  Speaker 1: you have to do, and you have to get people
• 17:35
  Speaker 1: to you know, uh reference you, and they have to
• 17:38
  Speaker 1: be tied to a certain amount of dons and active
• 17:41
  Speaker 1: dons and Bradstreet number. So let's talk about that whole business.
• 17:45
  Speaker 1: Credit and building out your business so you can bid
• 17:48
  Speaker 1: on government opportunities or r FPS and all that stuff,
• 17:52
  Speaker 1: because it really is a lot of things that are
• 17:54
  Speaker 1: happening out there. Whether you're established in a bakery or
• 17:57
  Speaker 1: established in then I T firm or lels on that's corporation.
• 18:02
  Speaker 1: It really goes. Do you work with somebody s c
• 18:04
  Speaker 1: P a firm of We're just talking about credit only here,
• 18:09
  Speaker 1: so yes, um, UM, let me talk to you first
• 18:12
  Speaker 1: about the business credit aspect of it, and then I
• 18:15
  Speaker 1: want to go more so into the team aspect. So
• 18:17
  Speaker 1: business credit is credit in your business is name, not
• 18:21
  Speaker 1: in your personal name. So that's one of the benefits
• 18:23
  Speaker 1: for it. So you know how when you max out
• 18:25
  Speaker 1: a credit card, it drops off, it drops your credit score.
• 18:27
  Speaker 1: Because you have a business credit card and your business
• 18:30
  Speaker 1: owns that credit card, that debt doesn't show up on
• 18:32
  Speaker 1: your credit report. So you can max it out for
• 18:34
  Speaker 1: real estate deals or trucking or advertising, whatever you need
• 18:38
  Speaker 1: to do to invest in your company to get a return,
• 18:40
  Speaker 1: and it won't hurt you personally. That's the benefit with it.
• 18:43
  Speaker 1: That's why I always preach it to my people, UM,
• 18:46
  Speaker 1: and to all communities. Why you know, get your LLC,
• 18:48
  Speaker 1: get that documentation, get your done in brasstreet number, and
• 18:51
  Speaker 1: go get yourself some business credit cards. UM. Now, what
• 18:55
  Speaker 1: was the other thing after that we were discussing. I
• 18:56
  Speaker 1: wanted to well, it was it was? It was about
• 18:59
  Speaker 1: It was It was about first of all, you answer
• 19:01
  Speaker 1: the questions about the business, but also growing the business
• 19:03
  Speaker 1: outside of the whole process of establishing yourself and getting
• 19:07
  Speaker 1: the loans and getting the money, and how does that Okay?
• 19:11
  Speaker 1: So after you get your initial business credit, like, I'll
• 19:15
  Speaker 1: tell you how I did mine. I think I got
• 19:17
  Speaker 1: like a one of my first business credit cards was
• 19:20
  Speaker 1: like twenty two thousand dollars, right, because the limits and
• 19:23
  Speaker 1: business credit are much much higher than personal credit. That's
• 19:26
  Speaker 1: another reason to get it right. Um, it was zero
• 19:29
  Speaker 1: percent interest for this card, and American Express gave me
• 19:32
  Speaker 1: twenty months zero percent interest. So when I maxed out
• 19:36
  Speaker 1: the card for a real estate deal, it cost me
• 19:38
  Speaker 1: one and eighty nine dollars a month zero percent interests. Right,
• 19:42
  Speaker 1: So I was able to complete six real estate transactions
• 19:47
  Speaker 1: in twenty months with that money. So I flipped that
• 19:49
  Speaker 1: twenty thousand dollars six times before the interest rate hit credit. Yeah,
• 19:56
  Speaker 1: before it kicked in, but I already made my money.
• 19:58
  Speaker 1: I paid them back their money, and that's what I
• 20:00
  Speaker 1: did next. When the zero percent ran out, I went
• 20:02
  Speaker 1: out another business credit card bank and Key Bank gave
• 20:07
  Speaker 1: me forties thousand dollars in business credit, zero percent interest.
• 20:10
  Speaker 1: And I'm still working on that money right now, flipping
• 20:12
  Speaker 1: in a whole bunch of times before that interest kicks in.
• 20:15
  Speaker 1: So that's why I'm trying to you know, because I
• 20:17
  Speaker 1: got my good credit right personally, I leveraged that to
• 20:20
  Speaker 1: get business credit and now I'm using credit to make
• 20:23
  Speaker 1: money and not to buy stuff. And that's and that's
• 20:26
  Speaker 1: what really people need to understand about leveraging credit, not
• 20:31
  Speaker 1: your personal money, you know, leveraging credit money you can
• 20:34
  Speaker 1: go get and and then all of a sudden, when
• 20:37
  Speaker 1: you need it, you can go get it. And that's
• 20:38
  Speaker 1: really the key because a lot of people they wait
• 20:41
  Speaker 1: till they wait till till it's too late, you know,
• 20:44
  Speaker 1: the data's on them and looking at scuare in the ass,
• 20:47
  Speaker 1: and then they can't go they can't go anywhere to
• 20:49
  Speaker 1: fix that problem. And you're talking about Rashaun, go out
• 20:52
  Speaker 1: there and get the line of credit zero. Interesting, when
• 20:55
  Speaker 1: it's available, you can go get it. It's called a
• 20:56
  Speaker 1: line of credit. And so that's what I've tried to
• 20:58
  Speaker 1: do in my life. You know, this is almost like
• 21:01
  Speaker 1: a really powerful refresher course for me because the fact
• 21:04
  Speaker 1: that you know, you you even I'm considering the expert
• 21:07
  Speaker 1: though Herman, that doesn't mean I'm an expert, because you know,
• 21:11
  Speaker 1: you don't do stuff all the time and keep keeping
• 21:14
  Speaker 1: like like if you don't if you know Spanish, you
• 21:16
  Speaker 1: don't space say Spanish, you don't speak it all the time,
• 21:18
  Speaker 1: you want to lose it. And the same thing with
• 21:20
  Speaker 1: these muscle memory you're talking about. Rashan. I have a
• 21:23
  Speaker 1: business opportunity where I was. I was passionate about it.
• 21:26
  Speaker 1: Then my brother had to slap me upside of the
• 21:27
  Speaker 1: here and say, boy, what'd you just start charging people?
• 21:30
  Speaker 1: And then that then you go, you think, and then
• 21:32
  Speaker 1: then then the crazy question comes out of your mouth.
• 21:34
  Speaker 1: You think they'll pay me, And that's that's when you
• 21:40
  Speaker 1: start saying, what is my value? And that's the number
• 21:43
  Speaker 1: one problem that people have and going into business. They
• 21:47
  Speaker 1: do not understand their value. And that's when you have
• 21:50
  Speaker 1: to do the research. You have to look at competitors,
• 21:53
  Speaker 1: what they're charging and what they're offering, and then you
• 21:56
  Speaker 1: fall in line. You don't have to match them, but
• 21:58
  Speaker 1: falling the hide and the low fall in the middle.
• 22:01
  Speaker 1: So you can get started and have a justification. Say hey,
• 22:04
  Speaker 1: if you know, if you if you think I'm high,
• 22:06
  Speaker 1: go over there, go over there exactly. You know, you know,
• 22:09
  Speaker 1: my my reputation of what I've done for you justifies
• 22:13
  Speaker 1: me charging you this I have for work history and
• 22:15
  Speaker 1: so so that's really important when I'm talking to you
• 22:18
  Speaker 1: and development it. But also you're gonna talk about remember
• 22:21
  Speaker 1: the CPA side, the team side of it. Remember that
• 22:24
  Speaker 1: was the other question side I wanted to find out
• 22:25
  Speaker 1: because we started on you. You said, Roshan, let me
• 22:28
  Speaker 1: talk about this part before we get to the team side, right.
• 22:32
  Speaker 1: So definitely get yourself a tax um professional or c
• 22:39
  Speaker 1: p A. I think that's another thing that our community
• 22:42
  Speaker 1: is definitely lacking. Understanding taxes also UM and UM and
• 22:48
  Speaker 1: how to not always pay taxes legally, because that's another thing.
• 22:51
  Speaker 1: Like it's one thing to make money, but you have
• 22:54
  Speaker 1: to do your best to keep money. So I do
• 22:55
  Speaker 1: have a professional that does work on my taxes, and
• 22:58
  Speaker 1: we actually have a biden monthly. Every other month, we
• 23:02
  Speaker 1: have a meeting to see what the company has done.
• 23:04
  Speaker 1: Let's pay some taxes early. UM, here's some strategy to
• 23:08
  Speaker 1: help you differ in keeping more of your money and
• 23:10
  Speaker 1: paying less taxes so that when April comes around in
• 23:14
  Speaker 1: one I'm in good standing. You know, the government just
• 23:16
  Speaker 1: want their money, pay them their money. But also what
• 23:20
  Speaker 1: I from what I realized from my mentors that are
• 23:22
  Speaker 1: in my life, is that there's many tax um rules
• 23:25
  Speaker 1: and regulations that the government has in place for entrepreneurs
• 23:29
  Speaker 1: business owners. Um that you can that you can help
• 23:32
  Speaker 1: keep a lot of your money. And if I could
• 23:33
  Speaker 1: worry with just just a couple of them. So um,
• 23:36
  Speaker 1: when I because I have that piece of paper that
• 23:39
  Speaker 1: says I'm an LLC or business So when I fly
• 23:42
  Speaker 1: to Miami, I could have happened to be going to
• 23:44
  Speaker 1: see my my aunt, right because I discussed business on
• 23:48
  Speaker 1: that trip. I'm on the airplane and I give somebody
• 23:50
  Speaker 1: my business card. I'm at the gas station, I talked
• 23:53
  Speaker 1: about credit repair. Now I'm able to write off that
• 23:56
  Speaker 1: plane ticket or that hotel because now it's a busy
• 24:00
  Speaker 1: and the strip and there's a tactic that a lot
• 24:01
  Speaker 1: of these fortunate five companies are using to keep a
• 24:05
  Speaker 1: lot of the money that they earned. And we can
• 24:07
  Speaker 1: do the same thing if we have that piece of
• 24:09
  Speaker 1: paper which is an LLC and documentation that you are
• 24:12
  Speaker 1: in real business. That's key, the real business terms. You know,
• 24:17
  Speaker 1: you heard me kind of like jokingly complain about what
• 24:20
  Speaker 1: the you know, the pandemic that we are in. Really,
• 24:24
  Speaker 1: when you're talking about trying to resolve or you can't
• 24:27
  Speaker 1: just switch on the lights right now and fix the
• 24:29
  Speaker 1: problem in this country because you know at four point
• 24:31
  Speaker 1: four million people are applying for unemployment and you know
• 24:35
  Speaker 1: the states are slowly reopening. We're talking about me a
• 24:38
  Speaker 1: couple of years before we even see a complete turnaround
• 24:42
  Speaker 1: of the results of this turnaround. What advice are you
• 24:45
  Speaker 1: giving to your clients and what are you giving to
• 24:47
  Speaker 1: any potential customer that will come to you right now
• 24:51
  Speaker 1: who's seeking opportunities to fall in the potential loans because
• 24:54
  Speaker 1: we know they're tighter now, restrictions are tight. What advice
• 24:58
  Speaker 1: are you giving them right now? So the obvious one, UM,
• 25:03
  Speaker 1: without having to the labor at the point, is when
• 25:05
  Speaker 1: you put yourself in position. I always say that first,
• 25:07
  Speaker 1: when you're in position with good credit, a lot of
• 25:10
  Speaker 1: these resources are still accessible to you. So I have
• 25:13
  Speaker 1: a lot of clients who I fixed their credit or
• 25:15
  Speaker 1: they came to me with good credit. They're still getting capital.
• 25:17
  Speaker 1: It may not be as much as it was before
• 25:20
  Speaker 1: um this prerecession area that we're in, but they're still
• 25:23
  Speaker 1: getting capital to make some moves. Number Two, I want
• 25:26
  Speaker 1: to talk to your entrepreneurs of people who are trying
• 25:28
  Speaker 1: to get into this game. Is to be able to
• 25:31
  Speaker 1: shift and pay attention to what's going on around you
• 25:34
  Speaker 1: to make your business successful. So here's an example of this. So, um,
• 25:38
  Speaker 1: it was probably three weeks ago. UM, I'm in my
• 25:42
  Speaker 1: home office um slash man case and UM, I hear
• 25:46
  Speaker 1: a lot of rockets upstairs. I go upstairs and my
• 25:48
  Speaker 1: wife is working out in the living room. I've never
• 25:51
  Speaker 1: done that before, and I'm like, why are you, why
• 25:53
  Speaker 1: are you making all this going? And then I look over.
• 25:57
  Speaker 1: She has her laptop open, the cameras pointing to her,
• 25:59
  Speaker 1: and she's connect she's connected it to the flat screen
• 26:02
  Speaker 1: TV and it's a workout class. Somebody's doing a workout class.
• 26:05
  Speaker 1: I was like, oh, that's really interesting. So I tap
• 26:08
  Speaker 1: on the screen and it's a zoom call and there
• 26:10
  Speaker 1: are a hundred and sixty five people from all over
• 26:13
  Speaker 1: the world on this phone call, on this zoom call,
• 26:16
  Speaker 1: excuse me, working out together as the Caribbean themes. Everybody
• 26:19
  Speaker 1: got their flags out there, dancing and working out, and
• 26:21
  Speaker 1: I was so intrigued by it. I sat down and
• 26:23
  Speaker 1: I watched the whole thing. And then the lady you know,
• 26:27
  Speaker 1: gave everybody opportunity to dance with their families and made
• 26:29
  Speaker 1: it a real community um situation because we're all stuck
• 26:33
  Speaker 1: home together. I actually emailed the lady after we've been done.
• 26:37
  Speaker 1: I was like, well what do you do? Because I
• 26:38
  Speaker 1: was so intrigued. She's like, well, I I own a gym,
• 26:40
  Speaker 1: and of course nobody could come to the gym. So
• 26:42
  Speaker 1: she's like, I decided to, you know, do this phone
• 26:44
  Speaker 1: call to keep everybody motivated. And I was like, listen,
• 26:47
  Speaker 1: when the gym's open again, right, continue, bring your laptop
• 26:51
  Speaker 1: to your class and tea the same situation, and charge
• 26:54
  Speaker 1: five dollars for the link for the zoom link. I
• 26:56
  Speaker 1: bet you people will still pay for it because while
• 26:59
  Speaker 1: people were locked in and you figured out a way
• 27:01
  Speaker 1: to bring people together. And she's, oh my god, that's
• 27:03
  Speaker 1: a brilliant idea. Like it's two people on this call.
• 27:06
  Speaker 1: Imagine what it's going to be like when you open again.
• 27:08
  Speaker 1: So being able to be creative and shift your business
• 27:11
  Speaker 1: up to something new, especially online um, is a great
• 27:15
  Speaker 1: strategy for entrepreneurs to still be able to make money.
• 27:18
  Speaker 1: That's what Peloton is doing. That's all they're doing right now.
• 27:21
  Speaker 1: They're doing you know, they're sitting up there, somebody's training,
• 27:24
  Speaker 1: they're charging amazing numbers, and it's really smart. It's like,
• 27:27
  Speaker 1: you know, your visionary from that standpoint, you see an
• 27:30
  Speaker 1: opportunity to make money and you can tap it to it.
• 27:32
  Speaker 1: But you know what she's doing the same thing we
• 27:34
  Speaker 1: talked about early afraid to charge. She's providing a service.
• 27:38
  Speaker 1: Say say she got a hundred sixty people and she
• 27:41
  Speaker 1: said ten dollars. She might go down the fifty. She
• 27:43
  Speaker 1: might go down the fifty, but at fifty she didn't
• 27:46
  Speaker 1: have before, and she would get back up to it.
• 27:48
  Speaker 1: You know what I'm saying. And it's really it's gonna
• 27:52
  Speaker 1: share it. Everybody's gonna share the link. Absolutely, yeah, but
• 27:55
  Speaker 1: you're it's really interesting. I would you tell people, you know,
• 27:58
  Speaker 1: you can let people come into your business for free
• 28:01
  Speaker 1: and you can charge a dollar. They're coming with a
• 28:02
  Speaker 1: different attitude. Yeah, if they want to know what they're
• 28:06
  Speaker 1: spending their money on. And so if you're charging people
• 28:08
  Speaker 1: for this workout, then guess what you're presented differently as well.
• 28:13
  Speaker 1: But also they'll understand the value of what they're getting
• 28:16
  Speaker 1: out of it, and they are shared more than saying that, Hey,
• 28:19
  Speaker 1: you know, I'm just doing this thing over here. It's
• 28:21
  Speaker 1: for free. People don't promote free as much as they
• 28:23
  Speaker 1: promote something they get out of something they pay for.
• 28:26
  Speaker 1: In this case, you're just understanding that my listeners should
• 28:30
  Speaker 1: understand this. How can I get in touch with you, Herman?
• 28:32
  Speaker 1: And also how can you give me a banner? I
• 28:34
  Speaker 1: got a weekly newsletter goes out to ninety thousand people
• 28:37
  Speaker 1: every Friday morning at nine am. Definitely love to promote
• 28:40
  Speaker 1: your brand, promote your business because that's what money Making
• 28:42
  Speaker 1: Conversations all about. But tell us how to reach out
• 28:44
  Speaker 1: to you. So um, you can reach out and call
• 28:47
  Speaker 1: my office. We're open Monday through Friday nine am to
• 28:51
  Speaker 1: seven pm Eastern Standard Time. Our phone number is six
• 28:54
  Speaker 1: O nine eight three to three five five two. That's
• 28:58
  Speaker 1: six O nine can read two three five two, and
• 29:01
  Speaker 1: you can email me at info at Bella Sloan Enterprises
• 29:05
  Speaker 1: dot com. That's info at b E L l A
• 29:09
  Speaker 1: s l o A N Enterprises E N T E
• 29:12
  Speaker 1: R E R I S E S dot com. My man,
• 29:17
  Speaker 1: I want to thank you for coming on my show
• 29:18
  Speaker 1: Money Making Conversation. He's the CEO and the owner Bella
• 29:21
  Speaker 1: Sloan Enterprises. Definitely, um, I want to hear from me
• 29:24
  Speaker 1: in the future. Definitely get that banner to me so
• 29:26
  Speaker 1: I can promote you on my social media as well
• 29:28
  Speaker 1: as in my newsletter. Thank you, sir, thank you so
• 29:32
  Speaker 1: much for having me have a bread. If you want
• 29:34
  Speaker 1: to hear more episodes of money Making Conversations, go to
• 29:36
  Speaker 1: Money Making Conversation dot com. I'm Rashean McDonald. I'm your host.
• 29:42
  Speaker 1: In this season of giving, Cools has gifts for all
• 29:45
  Speaker 1: your loved ones. For those who like to keep it cozy,
• 29:48
  Speaker 1: find fleeces, sweaters, loungeware, blankets and throws. Or support minority
• 29:52
  Speaker 1: owned or founded brands by giving gifts from Human Nation
• 29:56
  Speaker 1: and Shame Moisture. And in the spirit of giving, Coal's
• 29:59
  Speaker 1: Care is donating eight million dollars to local nonprofits nationwide.
• 30:04
  Speaker 1: Give with all your heart this season with great gifts
• 30:07
  Speaker 1: from Coals or Coals dot com. Still living in manually
• 30:11
  Speaker 1: taking notes, There is a better way to start the
• 30:13
  Speaker 1: new year with auto dot ai automatically get meeting notes.
• 30:16
  Speaker 1: Auto dot ai works for virtual meetings like Zoom, Microsoft Teams,
• 30:19
  Speaker 1: and Google Meet. Sign up on the web for free
• 30:21
  Speaker 1: or download in the app stores. Auto dot ai. That's
• 30:23
  Speaker 1: O T T E R. Dot Ai. Did you know
• 30:27
  Speaker 1: Amazon provides ways of working that fit your lifestyle. They
• 30:30
  Speaker 1: know you value your time outside of work, juggling families, school, friends,
• 30:34
  Speaker 1: or other activities. That's why they offer a variety of
• 30:37
  Speaker 1: shifts that work for you. There are full time, part time,
• 30:40
  Speaker 1: and even temporary opportunities that can work with your schedule
• 30:43
  Speaker 1: with great starting pay and sign on bonuses. If you
• 30:46
  Speaker 1: want a career that fits and adapts to your lifestyle,
• 30:49
  Speaker 1: head to amazon dot com slash apply. Amazon is a
• 30:53
  Speaker 1: proud equal opportunity employer.