Episode Transcript
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Speaker 1 (00:01):
Hello and welcome to
the show.
Thank you for tuning in againthis week.
I sincerely appreciate it.
We've got an excitingannouncement today that I'll be
sharing with you.
That's going to have atremendous impact on the entire
Divorced Advocate community andalso directly to each and every
one of you dads that islistening.
(00:22):
But before I jump in, as usual,let's welcome our new members
to the Divorced Advocatecommunity.
Those are Adam and V-Mac.
Welcome to the Divorced Advocatecommunity.
If you are not part of italready, check it out at
TheDivorcedAdvocatecom.
There are resources for youwherever you're at in your
(00:44):
divorce, wherever you are atfinancially from free to paid
resources so go check it out.
And what we're going to betalking about here is going to
help with some and most all ofthose resources as well.
So check it out atthedivorcedadvocatescom.
(01:04):
Okay, on that topic of resources, what I have found in doing
this work now for five yearswith your gentlemen is that
during this process, it is avery difficult and challenging
and chaotic time.
I'm not telling you anythingthat you don't already know or
you're not already experiencing,but that is in particularly
(01:27):
true with your finances, andduring this time your finances
are strained.
If they are not strained, thenthe outcome or the future of
your finances is somewhat inlimbo, depending on what the
situation is going to be withliving in limbo, depending on
what the situation is going tobe with living situation is
going to be with child support,et cetera.
(01:48):
And so what that has led to isthe real need for us to be able
to provide some other ways togive coaching and some of the
other services to guys that arereally in a difficult place and
experiencing some hardships.
So we have created theFoundation for Fathers, and the
(02:09):
Divorced Advocates Foundationfor Fathers is a nonprofit
focused on community educationand advocacy, and our mission is
to provide free or low-costresources, such as support
groups, workshops, legaleducation and fatherhood
programs aimed at helping alldads navigate divorce and
(02:30):
custody challenges, especiallythose without access to
professional services.
So today I'm announcing we havejust formed the Divorced
Advocates Foundation for Fathersand, on that note, we've got a
very special gentleman that'sjoining us today, that is
partnering with us to help tofund this foundation as well,
(02:55):
and his name is Will Black.
And Will Black is the founderof Sharing the Credits.
He is a leader in the merchantservices industry and he's
pioneered a very, very uniqueway to turn credit card
processing fees into sustainablefunding for charities, and
(03:16):
we're going to talk in detailabout how this works through
this podcast, and then also howyou will be able to, through no
cost of your own, be able tohelp us to fund this foundation
as well.
Through Will's work, he'shelped direct millions of
dollars to nonprofits, earningrecognition from organizations
(03:39):
like Rotary International.
Will's passion is makingphilanthropy easy and impactful
for businesses and communitiesalike.
Welcome, will.
Speaker 2 (03:48):
Thank you.
Speaker 1 (03:50):
Thanks for having me
Jude.
My friend, I'm so excited toobviously so excited to be
launching the foundation andgetting rolling, but I'm
extraordinarily excited to bepartnering with sharing the
credits in helping to fund this.
And, as you and I were talkingand some of the listeners know
(04:12):
that I've got a background infinance and in banking, so I
know just enough to be dangerousabout stuff like merchant
services and business, but Iknow more from the Really
honestly Will.
I know more from the standpointof being a business owner
myself for most of the last twodecades, right, and having been
taking credit cards and dealingwith merchant service companies
(04:34):
around that.
So now, on the flip side ofthis and running into you, this
is just an unbelievable way tohelp nonprofits have a
sustainable resource for whatthey're doing.
So I wanted to first I want tojust give a brief synapse I
(04:56):
shared this with you before ofwhat this program looks like and
how we are able to participatein this, and then I want to dive
deep into how you got into this.
So, sharing the credit's aprogram that enables businesses
to support charities byredirecting a portion of their
credit and debit card merchantfees Fees.
(05:17):
Now, these fees would otherwisebe paid to banks, so instead of
it being paid to banks, it getsdirected to a charity of their
choice, and the program ispromoted as a way for businesses
to support causes withoutincurring extra costs.
So these are the fees.
These are not the processingfees.
These are the fees that wouldotherwise go to the banks, and
(05:39):
so you're able to redirect someof these back to a charity, and
then the charity benefits fromongoing sustainable funding as
long as that business is stilloperating and taking credit
cards.
Is that a good brief synapse ofwhat sharing the credit is?
Speaker 2 (05:58):
That's it.
I mean, as you kind of summedup, you learn more from running
a business when you're in theindustry.
Right, Because that's theschool of hard knocks, because,
as a business man, takingplastic is the definition of the
necessary evil, isn't it?
I mean nobody's happy.
Talk about the devil in thenumbers.
(06:19):
Nobody's happy with that one.
They're just like how bad am Igetting it?
And we're like, if you're inbusiness that means you take
plastic, you pay that fee partof it can go to the thing I love
, right, yeah.
Or it can go to a banker.
Buy him a new Lexus.
You don't want to build asymphony, you want to save a
(06:41):
puppy, feed the homeless, help adad who had no intention of
getting a divorce and he doesn'thave all the wherewithal that
some other people do, and thisis compounding the worst day of
his life.
Well as we say, let yourbusiness do your talking, do
(07:03):
your giving for you.
Let it automate yourphilanthropy.
You don't write the check.
Let Visa MasterCard write thecheck, over and over and over.
Speaker 1 (07:11):
Right, so share with
me a little bit about how you
came up with this idea.
Speaker 2 (07:18):
Okay, so forgive me
if I need to be slightly
self-deprecating for a second.
I have had some people go oh,this is so brilliant.
Oh no, I'm the definition thatGod loves a fool, I am that fool
, but no, no, loves a fool, I amthat fool, but no, no.
Back in my salad days years agoand I met, I was doing
(07:41):
everything I can to get outthere, build a network, right,
yada, yada.
And I was at a businessnetworking lunch and I think it
was my 3000th one that year,right, and there was a symphony
executive director at it, andboy did he have a tale of woe
(08:03):
because his entire board, theyhad destroyed their entire
giving pool.
And, jude, I don't mean apartial destruction, right.
And Jude, I don't mean apartial destruction, right, I
mean the area he was in had alot of money, had a lot of old
money, and all of a sudden hefound out there was something
worse than no, it was nobody'shome, right, they just
(08:24):
completely ghosted him, peoplethat donated in debt for decades
and he had no way to do it.
And that's when I'm sittingthere listening to him and God
put a mental railroad spike inthe middle of my brain.
This was not an idea, this wasa direct email from God right
into the middle of my cortex, adownload right on you.
(08:49):
It hurt.
I mean, I had that shock, thateureka moment.
I think I was vibrating in mychair and I basically said I had
to wait till the end of thespeech.
I don't know if I heardanything else he said.
And I walked up and I said Ineed to buy you some lunch or
something.
He's like buddy, we were justthat lunch.
I said a bagel coffee,something.
(09:10):
But we walked over and we got acup of coffee and I said you
have a donor base.
They're just scared, right,they've burnt their fingers.
They're gun shy, right, andthey might can give to you.
They just they can't give youany cash.
It can't come out of pocket.
And he's going oh brother, amen, right, like I'm feeding back
(09:32):
his entire tale of woe.
And I said I need to tell yousomething about businesses when
they take credit cards and debitcards.
Right, that's got a merchantaccount, right, your payment
solution, that place we justbought the coffee from, I gave
my debit card.
At the end of the month, thesystem is going to take their
fee out and he goes yeah, yeah,I said part of that fee goes
(09:57):
back, but it's not going to Visaor Maskard or Discover.
It's going back into the system,normally to a bank.
This one part of that fee, partof it, right.
I said, but why can't it go a501c3, a nonprofit?
I said because at the end ofthe day, buddy, it's a referral
(10:18):
fee.
I said only banks get itbecause only banks know about it
.
I know I've already got two orthree banks.
I pay these banks these fees,right.
And he said okay.
And I said you need to be thebank.
And I will never forget thenext line he said.
He said that sounds good, but Ithink I lost three IQ points
trying to figure it out.
(10:38):
And I said it's a referral fee.
We give it to the bank becausebusinesses go into a bank by the
way, that's where most peoplego to get a merchant account and
they're not going to hand thatoff to Visa MassCard without a
percentage.
So Visa MassCard's built thisfee in.
Speaker 1 (10:57):
Why can't?
Speaker 2 (10:58):
I give it to a
nonprofit if the nonprofit
refers the business, right.
So in, in, in, inside of thenext two months he would refer
me to a bunch of people, thefirst one we ever talked to.
The third business we talked to, but the first one to sign up
was a bunch of people, the firstone we ever talked to.
The third business we talked to, but the first one to sign up
was a car dealership.
They were doing, Jude, amillion dollars a month in
(11:19):
plastic, just debit and creditcards.
And that's not selling cars.
Nobody's buying Nissans andtrucks, right On their debit
card and credit card.
That's oil changes, bumpers,right, you know, extended
warranty.
And we said to to them.
We already had the numbers.
We're like you're overpayingthirty thousand dollars a year
(11:41):
in fees.
And they're like that's wow,that's a car.
Right, it's a whole car, it'san employee.
I said right, I said if youmake a switch, well, you'll save
that thirty thousand, you'llkeep it your pocket, but you'll
donate the built-in number toyour charity, right.
And they said you have our, youknow, and there's a piece of
paperwork that protects you.
(12:01):
It says we can only give toyour charity.
We can't change our mind.
And he said that's what we werewaiting on.
You have our business and theywould donate a little under
$100,000 a year.
Yeah, yeah, 16 years later,that group, as all of our
businesses, they're still withus today.
They're doing a little under $2million a month.
Speaker 1 (12:25):
Their struggle
continues, right Keep those guys
in your thoughts and prayers.
That's tremendous.
Speaker 2 (12:31):
And they're giving an
excess of $160,000 a year to
their charity.
Speaker 1 (12:36):
They just shovel it
in One business to their charity
, gives $160,000 a year.
Speaker 2 (12:42):
Over and over and
over.
Speaker 1 (12:44):
Over and over every
single year.
That is tremendous.
So I just want to clarify forthose that aren't so, those that
are in business that arelistening, those dads that have
a business that are listeningand do understand how this might
understand how this works, butthose that don't might not so.
At Visa, mastercard, discover,american Express, they all
(13:06):
charge a percentage in order forthe use of a debit or credit
card, right, so that is the feethat is charged to the business,
and that is just a fee thatthey get paid just for the
convenience of being able to dothat.
(13:28):
Now, what you described, though, and how you're able to help
the charities, that's not thefee and that's not negotiable,
except that you are oftentimes,with a high, high percentage,
like 99.59, whatever percentage,it is right.
What was it?
(13:49):
98.5 or something like that, Ithink you said of the time able
to even find better rates foreach of the businesses on that,
because you have such a largepool of providers that can
provide that.
Right.
That's where you found that$30,000 savings for that correct
.
Right right, okay, so I want tojust clarify how that works.
(14:11):
That's where you were able tofind savings for that particular
business because you were ableto find a lower rate there.
So business right there istaking the credit cards and less
, which some states.
You start to have the surchargepricing Some areas here.
(14:39):
Some businesses are starting topass that on to consumers in
different creative ways, etcetera.
So if you can lower that fee,that's awesome to the business.
Now, the other part that youjust described and talked about
was the fee, the referral fee.
So all the banks, all the majorbanks, have a company that they
(15:01):
refer to.
That's how they have theirbusinesses customers come in.
If you're a business owner,you've ever been to a bank
they're always going to talk toyou about merchant services,
credit cards, et cetera.
So that's the fee that they getand that's where you come in is
you are able to redirect thosefees to a nonprofit of their
(15:24):
choice, which in this case, isthe Foundation for Fathers,
correct?
Speaker 2 (15:30):
Amen, right.
So they don't realize that youknow if you've got Joe's Pizza
Shop, right.
So everybody comes in, buys aslice and a Coke, buys a pizza
and a beer, takes a couple ofpies home to the family, right?
Or to their game night,whatever they're doing, game
night, whatever they're doing.
(15:50):
Every time somebody comes inwith their debit card, credit
card, they know at the end ofthe month it feels like those
guys are coming in and eatingtheir lunch.
They jokingly, I say they taketheir pound of flesh out.
and this is when my businessowners speak up and they're like
you mean two and a half poundsof flesh, three pounds of flesh,
(16:11):
and I'm like right, but everytime they do that isn't going
along to the Visa mask card, youknow it just going into the
system and it could, and itcould go to something that they
love.
So, without writing a check,and that's really the coolest
thing about it.
If you think about it like agym right, you know, gym is the
(16:34):
definition of you, set it andforget it.
You signed up three years ago,you went twice, you're still
paying a monthly, you know$19.99, $29.99.
Right, this is.
I signed this up and my businessthen has been giving and
they've been giving for yearsand it's just on automatic.
So when they get their thankyous and then their end of year
(16:57):
piece from their charity, theysee the impact, but they're like
I'm not writing the check.
Their charity they see theimpact, but they're like I'm not
writing the check.
And if you want to talk aboutdouble dipping somebody in terms
of feeling good, that's it.
You keep getting thank younotes.
You thank you for the gift, youknow, but I'm not even writing
the check.
I'm just open for business.
Speaker 1 (17:15):
Yeah, yeah.
So what we would like to askthe dads that are listening
today is that in, in, we can up,we operate in north america,
right canada or the unitedstates, or mexico too, do you do
us in canada right now us incanada right now.
Okay, because we do have a, alistenership that is across the
world australia, uk, some otherplaces to have a.
(17:38):
We have a lot of listeners.
Unfortunately, we can't do itthere right now, but if you know
of a business that takes creditcards, we would love for you to
get us in contact with them sothat we can schedule a time to
talk with them about how theycan, one, save money providing
(17:58):
credit cards and taking creditcards and, two, support the
Foundation for Fathers.
How and why is this going tohelp any of the dads?
Listening is because what theFoundation for Fathers is doing
is offsetting coaching fees,providing free memberships to
the Divorced Advocate community,providing scholarships and
(18:20):
doing other things to helpaugment the divorced advocate
community in partnership withthe divorced advocate.
So those fees would go directlyto the foundation to help with
that, which, in turn, is goingto help each of these dads,
whether you're part of thecommunity looking for coaching,
want to get involved with one ofour workshops, et cetera.
(18:41):
We'll also be able to work withsome other nonprofits and
providing more of that as well.
So if you know a business, itcould be any business that takes
credit card.
It's simple as saying, hey,would you like to help a charity
that is dear to my heart andsave some money?
It's as simple as that.
And then connect them with meat jude, at
(19:03):
thedivorcedadvocatecom, andwe'll put like a little link in
the show notes as well.
So I just wanted to put thatplug in there, will, because in
guys listening in the futureyou're going to be hearing a
mid-roll just PSA on this eachand every show going forward.
(19:24):
Just to remind you to do that.
Because it's a very easy way.
If you're out to lunch oryou're doing something, every
time you pull out your creditcard you could be like, oh,
foundation for fathers, let meget a contact information and
send it off to Jude so that Ican get in contact with them.
I can't tell you, guys, if wejust do this with 20 businesses,
(19:45):
this is going to fundeverything for the divorce
advocate for an entire year.
So so we'll let's talk.
Speaker 2 (19:53):
That's so responsible
.
I got to say that is such aresponsible thing to do, man.
I love that because, as you andI have talked about before, you
get into a divorce that younever intended anyway.
Some of them sometimes neversaw it coming right.
Speaker 1 (20:06):
Yeah.
Speaker 2 (20:07):
Well, that's not
always in the most financial
best time of your life, and evenif it is, it's expensive, right
?
It is like having two or threevampires around your neck.
I love that you can do this andsupport these guys, cause
that's what, that's what divorceadvocates about in the first
place, right?
Speaker 1 (20:27):
Absolutely.
Speaker 2 (20:28):
It's.
I don't want you to have to gothrough it, but if you are going
through it, you know I don'twant the plane to blow up, but I
want you to know how to use aparachute Well.
You know your marriage to gosell, but if you do, this is a
resource for you.
I love the idea of thefoundation for fathers.
Speaker 1 (20:44):
Well and hey Will
like attorneys.
So every one of us most everyone of us going through this,
has to hire an attorney, and soif you are working with an
attorney and you're paying thema retainer, when you pay that
retainer, get me in contact withthem because we can save them
(21:07):
money on the fees.
But we can also then work withthem If they are part of our
foundation, if they are givingto our foundation.
I already have a program that Iwork with attorneys where we
will be giving them free, yearlymembership to the community, so
this will benefit you.
It's also going to pay itforward to other dads that are
(21:29):
going to be coming along afteryou going through this as well.
So when you're making thatdeposit or you're making monthly
payments, or you're paying anattorney, when you're putting
that card in, make a connection.
Make a connection with me andlet me reach out to them and
talk with them.
So I wanted to that just came tomy, that just came to my mind,
(21:49):
will, while we're talking aboutthat and let's, so let's just
talk about, let's talk aboutthen you the one, well, there's.
So we talked about the benefitsof the businesses, the
attorneys or whoever.
Let's talk about the benefitsto the foundation, and so for me
and you touched on this alittle bit before the long-term
(22:10):
donor retention part of thisbecause we were talking just
before offline, with fundingfrom different nonprofits and
different ways and the grantprograms that they have to look
for and this and that, and partof the hard thing around that
and when I was setting this upand thinking like, well, how am
I going to actually find moneyto do?
I don't want to be a grantwriter and I don't want to have
(22:34):
to find monthly done, like allthat, and that's why I was so
excited about this the long-termdonor retention thing is so, so
huge.
Do you have any numbers aroundhow long the businesses stay
with a merchant provider?
That then is funding thenonprofit.
Speaker 2 (22:53):
I do Thank you for
giving me the layup so I can
dunk a little brag on my way alittle brag on yeah, baby, well,
no.
So the first thing I'm gonna I'mgonna say is again that first
client.
We signed up 16 years ago,right, and they were a million
dollar a month.
Business, that's not youraverage.
You know little.
(23:13):
You know pizza shop, right, um,and I love a pizza.
That's not me talking bad aboutpizza, I'm a pizza man.
But that's a pretty girl at theball and everybody wants to
dance with her.
And they are courted by anynumber of banks every quarter,
as they tell me all the time.
And 16 years later, they'restill with us.
Right, we have lost less thanit's easier to count what we've
(23:36):
lost.
We've lost less than one halfof 1% of all clients we've ever
signed since inception.
And that's how many years ago?
16.
16.
Okay, right, and there's areason for that.
It's not because I'm so, sopretty and I am.
My mama told me I am right, Idon't think she'd lie to me.
But no, no, it's because, atthe end of the day, if your
(24:03):
business is saving puppies, ifyour business is helping a
veteran, if your business isgiving to Foundation for Fathers
because you know what that kindof pain is like, right, and
you're not writing a check forit, then I have a wonderful.
I used to say I've got a basshook of guilt in your lip.
(24:25):
No, no, I've.
I've put a, I put a halo aroundyou that I shackle you to me.
And and this is what ourbusinesses tell us, they say
they have a three-step process.
They said, as long as you keepmy number low, right, that's
important, it's not mercenary.
Say, well, it's got to be goodfor me, right, you keep my
number low, you give to thething I love.
(24:48):
I will never leave and we hearthat over and over and over from
million dollar month businessesto people that opened six
months ago.
And you know, and we were theirfirst foray, you knoway out
into the payment solution worldRight, but it's because, as one
entrepreneur said to me yearsago, they said my business isn't
(25:10):
did we lose you there?
Speaker 1 (25:23):
okay, well, I think
we lost you because you cut off
mid-sentence there.
So, oh, that sounds like you'reback am I here, you there?
Yeah, yeah, yeah, you cut offmid-sentence there, so weird
that that mike did that.
Speaker 2 (25:36):
He did that in the
pre you know the pre start thing
.
But, as I was, as I was saying,I was told by an entrepreneur
years and years ago.
They said my business isn't theonly thing that inspires me,
right, and this was a personthat put in 10, 12, you know 13
hour days and, uh, and I said,because I was introduced to them
by their charity, they're likethis is the charity that on
(26:00):
Christmas Eve, if I'm notthinking about songs and eggnog
and my children or whatever, Ithink about this one, right,
well, my deathbed, I'm going tobe saying to my family keep
supporting these guys.
Right, these are the ones doingthe good in the world and I
love that.
Right, that was a really youknow scales falling from your
eyes moment.
But if you keep their numberlow and you give to their thing,
(26:24):
why wouldn't they go?
My thing that I really like isis I tell people all the time
and this is only from a thousanddata points, right, I'm like a
person will give you 10, 20, 50,100 bucks.
A business might give you 50,100, 1,000, $5,000 a month,
(26:44):
month after month, year afteryear, and that's when it gets
pretty interesting.
Speaker 1 (26:51):
Yeah, no, that's
tremendous.
So let's wrap up.
I just want to review theaspects and the highlights of
how each of this works.
So, again, we just talked aboutthe charitable impact is
ongoing.
It's funding that's ongoing.
(27:12):
It's sustainable.
It's easy for nonprofits toparticipate.
I don't have to do anything,I'm set up with Will.
Once the business gets set up,it literally gets deposited into
the Foundation for Fathersaccount the businesses there's
no extra costs.
So if you are a business owner,get in contact with me.
If you know a business, get incontact with me.
(27:33):
They can save on their feeslike 98.5% chance that that's
going to happen and it's apositive impact, Like we were
talking about.
It just feels good, Right, itjust feels good.
It's not even, it's not even ahook of of of guilt, Like you
said.
It feels good.
And when and as a businessowner, right, when we're doing
(27:53):
good and we're making money, wedo want to give back.
This is an easy way.
You don't have to write thecheck, Right?
You don't have to.
You don't have to sponsor agolf event like any, any of the
traditional stuff.
It just happens automaticallyby you doing the same business
that you're doing.
And then there's the, the, theretention rate that you talked
about.
User satisfaction, unless youknow, as long as you keep that
(28:16):
number low, that's great.
And then the unique value isthat you're redirecting these
fees that would otherwise go tobanks, and you know banks are a
necessary evil, the fees are anecessary evil.
The percentage of the using isall a necessary evil.
You're able to do some good andit's a unique value that you
(28:41):
provide and it is completely,100% effortless to do this so
well.
Man, this was really terrific.
How much I appreciate what youhave created here, because it is
so many times in business youdon't see people that are
(29:05):
looking at things from anoutside perspective to change,
and the word these days isdisruptors right, Disruptors and
this isn't necessarilydisruptive, but it is disruptive
in a good way because, man, theimpact that this is going to
have, such an impact across theworld on so many dads and their
(29:42):
families.
So I just wanted to just expressmy appreciation for you
creating this and for youpartnering with the Foundation
for Brothers, and it looks likewe lost Will again.
So I'm going to end it on thatand if you have an interest in
helping out with this, pleasecontact me directly at
(30:06):
judeatthedivorcedadvocatecom.
We're going to put a link inthe show notes below for you to
look at too.
Also, if you know anynonprofits that could benefit
from this and working with Will,the website is
sharingthecreditcom.
You can go there directly or,again, you can contact me.
It helps us out as well if I'mable to refer anybody else to.
(30:29):
So it kind of continues to scalefor us.
So you can contact me.
You can go directly tosharingthecreditcom as well.
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this on.
Thank you so much for listening.
Will Black, thank you for beinghere this week and God bless.