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November 2, 2023 • 14 mins

What if you only had $9 to your name and two children to feed, could you turn the tides and become a business owner? Join us as we have an enriching conversation with a single mother who did just that. She saw an opportunity, acted on it, and with just $9 in her bank account, took a leap of faith and purchased an event planning business. Hear her fascinating story of how, despite having no funds or previous business experience, she built a successful business ground-up.

During this podcast episode, you'll learn about the unexpected hurdles of entrepreneurship and how to overcome them. Our guest shares her experiences, from the practicalities of acquiring businesses listed in the yellow pages to the importance of taking calculated risks during desperate times. She emphasizes the power of resourcefulness, resilience, and betting on oneself. She shares many insights from her journey, inspiring us all with her story of determination, courage and asking the right questions. Tune in, and be ready to be inspired by a tale of using adversity as a stepping stone to success.

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Transcript

Episode Transcript

Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
I was just remembering buying my first
business.
It was just something out of abook and I was gonna pick up the
book and read it to you.
But just imagine that I figuredout how to make like 40K for
the year.
I was putting my kids to bedhungry.
I read that I can start abusiness.
I start a gift basket business,but I don't make enough money.

(00:22):
You ever just start a businessand you just don't make enough
money.
So fast forward, One day I'mwith my kids and let me see if I
can remember exactly somechapter five.
So I'm with my kids and we areat a park in Sunrise, Florida,
and this comes from.
Confidence is Key in the Buildthe Damn Thing Now book.

(00:46):
I'm with my kids at this parkand Jada Meyer 18 months apart.
So we're running around, we'rehaving fun.
But I see this woman.
I see a truck actually overthere in the community center
and I'm thinking to myself man,what are all those trucks for?
My life is really not onlyboring, but I'm not making
enough money.
I hate making baskets.

(01:07):
I'm not good at it.
I'm trying to feed these kids.
Of course, their dad is nowhereto be found.
My family is not racing over tocome and save the day and I'm
literally just on my own as awoman.
I go over and I, you know, withmy kids in hands, I walk in a
walk inside of this place.
Now there's a woman.
She has a clipboard and she'sdoing all this and they're

(01:28):
decorating tables and it'sexciting and I'm thinking to
myself what are they doing?
I've never been to an eventbefore.
I don't understand what it is.
So I walk over to her and Igotta tell you like this is
called.
Confidence is key, because I'mwalking you through not only the
story, but I'm walking youthrough.
I didn't.
I would not have thought ofmyself as having confidence back

(01:48):
then.
My ex-husband was in thestreets.
I was a single mom.
I can't be my kids.
I'm in tears probably everythree or four days.
I'm cussing God in multiplelanguages and the fact of the
matter is that I just had thisone moment of termination
because I don't like what I'mdoing as a woman.
But I know I gotta do somethingdifferent.

(02:09):
I tap into the show and I'm likehi, I have a question for you,
what are you doing?
And she goes, she looks at melike, and she's kind of like I'm
an event planner and basicallytells me this is her company and
that there is some type of anevent happening.
I think it's a wedding.
I'm blown away Because whatshe's doing looks like so much
fun.
And specifically I say tomyself man, like I, I get into

(02:35):
this place of oh my gosh, maybeI could do what she's doing.
Now, instead of me thinkingthat I could just do what she's
doing, I have this bright ideathat I'm gonna go ahead and ask
her this question.
I have a question for you.
Have you ever thought of sellingyour business?
This lady looks at me way olderthan I am.
She kind of looks me up anddown and she's like takes out
her card, not out of her pocketbut out of a thing and then

(02:56):
she's like you know what call mein two weeks.
In my mind, I'm like yippee, asfar as I'm concerned.
She just said I can buy thebusiness.
One, I don't have no money.
Two, I don't have any money.
Third, I know nothing aboutevents, but I got excited
because I asked a question andsomeone responded and I think,
as a woman, I just I have beenthrough so many scenarios that

(03:18):
no one respected me when I askeda question.
So I feel like, in the tiniestway I was heard.
Maybe Truth of the matter isthat I go home, I read all the
books.
I, you know, race througheverything and I start stalking
her business.
Her business is like 15 minutesfrom my not house, but where
I'm sleeping in someone else'shouse.
Now the truth of the matter isthat we get into dialogue in two

(03:39):
weeks and, before we know it, Iam sitting.
She tells me her price of herbusiness and she's like I'll
sell you my business.
And I'm like whoa.
She tells me she'll sell me herbusiness for $30,000.
Now I want you to.
I want to have context thisbecause, number one, I don't
have $30,000.
I have like $9 in my account.
Probably it's negative $9 onthis day, but, based on what I

(04:03):
had read, all of the businesseswere like hundreds of thousands
of dollars to own.
So the fact that she wasselling me hers at $30,000, I
thought it was a deal.
At that point, I owned my littlegift basket business and I was
just too ahead of myself.
I tell her yes, I'll do it.
I convinced her, though, tosell me the business and let me
pay $5,000 a month, or sixmonths, until I own it.
She has a retail shop that's inMiami and it's on a main road

(04:30):
and I'm like, yes, I'm gonnatake this and we'll make it work
, Fast forward.
She has a lawyer, she draws upthe contracts.
She is the person who.
She is the person who does allthe things.
I show up to a lawyer placewithin 30 days.
Now, here's the truth of thematter.
I don't even tell nobody I'mdoing this.
You know why?
Because, one, I don't wannahear it.

(04:50):
Two, I don't wanna hear it.
Three, I know someone's gonnago.
What the hell are you doing?
You don't even have no money.
Your business is.
Everybody's gonna talk smackand I'ma know it all.
I don't know if I was aknow-it-all or I was just scared
, I'm not sure.
I think I was just scared ofsomeone else shooting down my
dream.
I think I was just scared ofsomeone else telling me I can't
do something and I was finallygetting the courage in my life

(05:11):
to be able to do something.
So I show up to the day lawyer,blah, blah, blah, blah, sign on
the dotted line.
She tells me, actually shewants $25,000 for her business.
I tell her I'll pay $30,000 forthis business.
And me paying $30,000 for thisbusiness.
I tell her sorry, and me paying$30,000 for this business I pay

(05:35):
$5,000 is like I don't know,like I guess it'd be it works.
I sign the pieces of paper.
Now I'm gonna read you thisfrom this chapter because I
really need you to understandwhere I am.
So right now, I've signed, I'vebought a business, I've bought
a business, a retail business,and I'm doing all of that.
So we close.

(05:55):
She says her and her lawyercongratulations.
So it was my first day.
This is chapter five.
Confidence is Key.
It was my first day as anofficial business owner.
I was now the president of awell-known, well-established
event planning and decoratingcompany in Miami, Florida.
Now, be clear I don't know nota damn thing about.
I don't know a damn thing aboutdecorating nothing.

(06:16):
I barely.
I've never even been to anevent for real.
I've been to, like Ray Ray'sbirthday party in a backyard,
you know, like once or twice inMiami, and if you know what that
is, that's just a bunch ofHeineken's and multiple coolers
and people sitting around.
Okay, so my first day would bea special day.
Indeed, I drove, with the musicloud and the windows, down all
the way to the shop, which waslike a good 15, 20 minutes from

(06:39):
my house.
The sun seemed like extrabright and extra beautiful this
morning.
It was great.
I was so stupidly excited.
As I pulled up to the shop, Inoticed that something was
missing the sign, the stupidsign on the top of that building
was nowhere to be found.
It was actually gone.
I stared at the empty spot andcomplete the disbelief, and I

(06:59):
could not park my like.
I want you to know, I couldn'tpark my car fast enough, Like
think of me, just like pullingup and like jumping out the car
and not even putting this thingin park Cause I'm like what the
hell?
Now I stared too hard as Iapproached the front door.
I'm so excited just readingthis, like I can't even get the
words out fast enough.
As I approached the front door,I noticed the door signs are

(07:20):
also gone and that something wasup.
This was absolutely crazy,Utterly confused.
I walk inside.
I see the woman who I boughtthis thing from in the shop in
the far left and she's packingup things.
Now I was thinking to myself,why the hell is she packing?
She says to me actually don'tget me wrong like I did
understand that she was gonna beputting things somewhere, but I

(07:40):
definitely didn't.
Like you know her littlepersonal things that I've often
get in the mouth so I couldstart running this thing.
But the large items, the thingson the shelf, they were gone.
She turned to me, smiled andsaid good morning.
I was not smiling, I was pissed.
I walked closer to her andslowly and asked where were all
the signs?
She looked at me calmly and shesaid they are at my home.

(08:03):
Now I'm like you know, I'm alittle hooded.
So I was like wait a second, Ialmost you know, like you know,
you have a moment where you'reangry and try to compose
yourself as a human, as a woman,as exactly where I was.
So now I blurted out why arethey at your home?
What are they doing there?
I bought this business.
I need these signs.
What am I gonna do without them?
You bring them back.

(08:23):
She paused for what felt like Iswear to you a whole eternity
and all I know is she said to mehoney, everything you bought is
right here in this store.
I was like what, the what?
Where are you talking about?
I got a whole piece of paperand says I bought this business
and she was like, ha, you didnot buy the business.

(08:48):
You bought the assets.
You bought the assets.
Now I remember standing there.
I don't even have to readanymore because I remember what
I felt.
It was like sickening disgust,anger, pain, sadness, every
feeling that is like the epitomeof holy.
What am I going to do?

(09:10):
Because now I have signed alease for this place.
I think the rent was like$2,000 a month.
I now owe $5,000 a note, but Iwant you to understand what's
around me.
She has left trash.
I don't want you to think shejust took the signs and left
everything else, Anything thatwas good.
She literally just pulled itlike this and took it off and
put that shit in the box.

(09:30):
Anything that was broken,anything that had tears, she
left it right there.
Anything that was battered andcould barely be used, she left
it right there.
Now, in the back of this place,she left some tuxedos that were
unfinished.
She left wedding dresses thatwere unfinished, but that's not
what I bought and, moreimportantly, I don't know what
the hell she's doing with thosethings.

(09:50):
Now my core lesson.
I have two lessons I want togive you from this, because me
walking through this particularjourney has been one of the most
important Because I know that,as a woman, you don't know what
you don't know, and then youtrust people too fast sometimes
because we're buying and doingthings or we're moving on
emotion Back then, totally onemotion, I had no idea.

(10:13):
Lesson number one You've got todo all the things with the
lawyer, All the things with thelawyer, or with someone who and,
or with someone who is notbigger and batter than you, but
you know what they're doing,which is like the things that I
do for our clients in the shadowCEO.
The second thing that I learnedwas that it was my first taste
of understanding that I couldacquire a business in order to

(10:35):
grow in scale.
Now I'm gonna get into that inpart two, three and four and
five in this journey and this,this time that we have together.
But I want to give you thisbecause I Cried for ever.
I feel like, as I rolled aroundlike a complete jackass on the
ground, like you could visualizeme in this little tiny store,
Looking at all this thing,thinking and what the hell am I

(10:55):
gonna do?
Not having no answers.
But the truth in the matter isthat I made a decision right
there and then that I would notlose.
So, yes, it's tempting to go toall these external places when
you feel like you're drowningand you can't anymore.
But the truth in the matter,like what I talk about here in
chapter 5.
Well, I'm so excited about thistour we have coming up.
I'm coming around the country,I'm going on tour Specifically

(11:21):
so I can talk to business owners, Because business owners and
women, I feel like, is the otherpart of it, because the truth
of the matter is that I knowthat when, in moments like this,
we start throwing time andmoney at the problem, especially
as women, we throw time andmoney and in time, like, like
surface time, what I realizedwas this this really really,

(11:44):
really important thing I'm gonnaget out of here I Realized that
I had to be resourceful withwhat I had and I had to make one
bet and one bet only in thislife on me.
So, after crying and wiping mytears I don't even know if I
wiped my tears I probably madethese phone calls with tears in
my eyes but I go to the yellowpages and if you're too young,

(12:05):
if you're not a millennialYou're younger than a millennial
you may not know what a yellowpages are, but this was a
big-ass book that would sitinside of your business in your
house and you would look throughnumbers and I started to call
every single business that wascomplimentary from mine and I
started to go high.
I own a such-and-such business.
Do you have anybody who'slooking to that?
Build relationships with people.

(12:26):
I need I by go was 10 10 peoplein the Miramar community that
had that, had businesses thatwere complimentary limousine
photographer, Carer of florist.
I just called them all Builtrelationships and said hi, I'm
an event planner.
I never, I never, planned noevent in my life.

(12:46):
Hi, I'm an event plannerbecause I didn't know what held
you back.
Hi, I'm an event planner and Iam gonna plan.
I plan amazing weddings forawesome couples and if you have
someone who wants their, Pleasecan you give me a call back or
can you let me know.
And I have a referral fee.
I didn't have no referral fee.
I didn't even have a program ora product.

(13:06):
I just got up the phone and Istarted making calls.
Third lesson, which is a bonusyou don't have to have the thing
in order to start fixing theproblem.
You just need to have yourselfin order to start fixing the
problem.
I literally stood in that placealone, scared, afraid, owing a
lot of money, not tellinganybody in my family, Thinking
about these kids, angry againall over at my ex-husband, who

(13:27):
was my husband at the time hewas in the streets, who I still
hadn't seen for months, andthinking to myself this could
not be.
But I had to learn the mostimportant part which is why I
wanted to write this originallyIn what it means to become more
as a business owner is, I had tolearn the principle that I All
else fails.

(13:47):
I have myself, and so do you.
That is it.
This is my one, two and threethought for you on today's daily
tea.
I got part two, three, four andfive coming.
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