WEBVTT

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According to you, what do you think is some of

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the great traits of leadership? I think you know

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that a good business and great leaders go hand

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in hand. I don't think you can separate those

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two if you're trying to build a business. I think

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leadership is very, very important. So according

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to you, what are those traits? Yes. Well, thanks

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for having me back, first of all. You know, yes,

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they do go hand in hand with business. A good

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leader is a visionary, for one, usually has a

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good vision. They are usually a good communicator

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of that vision. And they have a good leader,

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in my mind, is somebody who has a good vision

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and has the ability to influence others to act.

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if you will, or to action for the greater cause,

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right? So they have to be a good communicator.

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They have to be able to influence others and

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as well as invest in others, you know, bring

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others along with them. I think that's a good

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leader. Wow. Why do you think of all these things

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that you just mentioned? Can you talk about that

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a little bit more? I want to hear your thoughts

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behind some of the things that you mentioned.

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Well, I think a good leader and especially in

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business and I can just use my business as an

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example. I had a vision for my business, which

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is the fractional CFO. And my vision grew as

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I got into it because I started to see more needs

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that to be met with my clients. And so I thought,

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well, why don't we take the same concept and

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apply it to a C -suite, which would address all

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of the areas in a small business owner, you know,

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other areas as well. And you can bring in a team

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with you. And so I took my vision to some previous

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colleagues of mine and communicated to them.

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my vision, you know, the plan, how it would work,

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how it would help and benefit so many of these

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small business owners and brought them in with

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me. They're both very excited to work with me

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on this. I was able to bring them in with my

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vision. So I have some stakeholders now at other

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resources, if you will. And I think They're able

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to give me the support that I need to follow

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through with my vision as a leader. Thank you

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for sharing that. What would you say that some

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of the lessons you have learned by either bad

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leadership or good leadership in your experience?

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Well, basically, there's a lot of leaders. I

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have worked for good and bad leaders. The good

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leaders to me, like I said, are the ones that

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are like very they're invested in their followers

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or their employees. Right. And they want to bring

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them along with them, you know, for all the wins,

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all the journey. They're very supportive, you

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know, of their co -workers, teammates, stakeholders.

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Some of the bad ones I've worked for, I think

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were more of a like of a leadership to them was

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more like a dictatorship. You know, it's the

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I'm in charge thing and you do what I say. And,

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you know, this is how it's going to be done.

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There's no collaboration. There's no teamwork.

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And it's very demoralizing. It's very it's not

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motivational at all, you know, for the for the

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greater effort of the team. Yeah, thank you for

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sharing that. Next question for you, Teresa.

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And I actually really appreciate you mentioning

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some of those things, by the way, because I have

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had experiences in my life where my energy was

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channeled in the wrong place by bad leadership.

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And had it been channeled to the right, things

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would have been much more different. But I did

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not know at that time I wasn't the leader that

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I should have been, and neither was my mentor,

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my boss, was the leader that I should have been

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to guide me through all these things. Our company

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values as first -class business are patience,

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persistence, consistency, and reliability, all

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based on the foundation of love. I'm sure you

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have some of those things as well when it comes

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to your businesses that you look up to, that

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you strive for, and some of the foundations that

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I think make you as a leader too. Is there something

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that you want to talk about or mention to our

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audience? I like, well, like I said, I like to

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invest in my employees. I like to be, I like

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to be a good mentor to them. I like to be a good

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role model, you know, for them. I like to be,

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I think a huge attribute of a strong leader,

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somebody that knows how to support others. It's

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not just direct, you know, not just directing

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and, but supporting them, you know, in their

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efforts, giving them clear expectations. And,

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you know, I think the biggest compliment to me

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is I've had recently have had previous employees

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you know that have reached out you know wanting

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to come back and work for me again and i think

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that's the biggest compliment um you know i'd

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like to bring people up with me as i go so um

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you know i i believe strongly in you know automate

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eliminate and delegate and the delegate is key

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and the only way you can delegate is if you have

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you know strong teammates you know working with

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you and they're motivated to work you working

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with you and yes their energy is positive energy

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they're excited about what they're doing every

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day they're excited about the vision the bigger

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you know the bigger story what are we accomplishing

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here all together you know um So I think to me,

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that's always been very important. And it feels

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good to me to know that I've helped all these

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others, you know, these other employees and teammates,

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you know, reach their goals, accomplish their

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dreams. And I think that's the exciting part

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of it to me. You mentioned that a great leader

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needs to know how to support their team. What

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are some of the things that you do to support

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your team? What does that look like? What I've

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done, some of the things that I do is I like

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to invest in them as far as training. I had two

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employees that worked for me doing a data entry

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catch -up project for a client. Neither one of

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them had an accounting degree, but I saw talent.

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I saw talent and skills with them. I worked with

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them. put together a training program. We were

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heavily involved in some Excel spreadsheets at

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the time, and I offered them an opportunity to

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go to Excel University, which I did. I loved

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it. It's Excel for accountants, and they were

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both very excited about it. They went and did

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it. They accomplished it, and both very excited,

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and both of them, even beyond that, decided to

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go back to school and get their accounting degree.

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And one of them did get the accounting degree.

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The other one's still working on it. But that,

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to me, that's a good leader. If you can influence

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others like that, you know, to motivate them

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to want to accomplish, you know, their dreams

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and their goals. Yeah. Thank you for sharing

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that. Teresa, for my next question, I mean, your

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brand, I mean, it's very clear there's a lot

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of headways you're making and lives you're probably

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impacting and changing. But it all started, I'm

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guessing, at one point way back when. According

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to you, why do you think that some leaders hide

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from funding their vision? And how can those

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leaders then lean into funding that vision? I

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think probably the most obvious is while they

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have a good vision or a good idea, they don't

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always have. clarity or well -defined plan for

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that idea and so they don't really know how to

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go about it you know um and you know along with

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that i think a lot of them are you know people

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may be scared you know they're afraid if you

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will they're afraid of failure um there's a lot

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that goes in into it beyond just having a good

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idea hot product or hot service there's the business

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side of things right and not everybody understands

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or knows what all's entailed in the business

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side and or if they do maybe they're afraid of

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failure you know What if I don't what if I'm

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not successful? You know, how's that going to

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look to my peers or what am I going to do if

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I fail? I think the best way to address that

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in business is to have a backup plan and do some

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what if scenarios, you know, make sure that,

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you know, whatever the worst case scenario is

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that you've got a plan for it, you can handle

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it. And I think if you plan it out, then that

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relieves a lot of that anxiety and that fear.

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It gives clarity to your vision, gives you more

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confidence. I think and finally, I would say,

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you know, from a financial standpoint, a lot

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of visionaries don't have the financial resources

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or they don't think they do. They may not realize

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there's there's various ways of getting funding,

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you know, for a good idea. You know, there's

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grants, government money, of course. There's

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partnerships, crowdfunding, you know, financial

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lending. There's a variety of ways to get funding.

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And one of the most important ones is probably

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if you can communicate effectively your vision

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and your plan to outside stakeholders. There's

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investors out there just looking for great ideas

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to invest in. So, yeah. I think you mentioned

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a very good point. A lot of times we have a very,

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very great idea, but we just don't know how to

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present it in a way or speak about it in a way

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that would actually help someone or influence

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someone's decision in investing in us. A lot

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of times, I think I'm also guilty of that. We

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like to just... blurt out our services, our product

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out to people, but not to the point of inspiration

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that they want to invest in. And a lot of times

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people don't even have the craft together to

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answer the question that person might be looking

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for. Like, what would your projection is? Like,

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what was your quarterly projection? What is your

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yearly projection? If you invested this amount

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of money, how much can you grow it? What are

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your, who's going to be your CEO? Who's going

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to be your CFO? Who's going to be your CTO? Do

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you have a great team behind you to help you

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scale that? Do you have infrastructure in place

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to scale that? And what about the people that

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you're hiring? Are those people qualified to

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do so? Have those people done it, what you want

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to do? Have those people helped others do what

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you want to do? Where are you going to be going

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in the next few weeks, months, let alone years?

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How long do you plan on being in the business?

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Do you plan on selling? What's my rate of return

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if I invest in it? These are some of the questions

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that entrepreneurs, most of them have no clue

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when they're looking for investments. And I think

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it's at the end of the day for an investor, they're

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looking at the return they want to have. Right.

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And and if you give them a good return, why wouldn't

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they invest in you again? Again, like if someone

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gave me like if I invest $100 ,000 in someone.

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Right. And then within 18 to 18 to 20 months,

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they're like, hey, I'll return 15 or 20 percent.

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Right. And and they did. They paid me before

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I was able to even I mean, before the 18 month

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mark. Why would I not throw down under a thousand

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on that adventure as an investor? I would definitely

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do so. And that's how I think great businesses

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are made as well. I mean, throughout the history,

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the business is the last at least. This is one

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of the lessons I learned yesterday. I didn't

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even realize it. You don't have a scalable business

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by starving to yourself to death. I mean, great

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CEOs and CEOs and CTOs who are building big businesses,

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while the company might be negative, right? And

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it takes like maybe four or five years to get

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it positive. They're still taking a healthy salary

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home to support themselves and not starve to

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death. And that's one of the only ways I think

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I know to have a scalable business. What are

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your thoughts on some of that? Do you agree,

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disagree? Maybe you want to counter with that

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something? No, I agree with all of that. But

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all of that goes back to having a good plan.

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Everything you described, all those questions

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that are going to be asked by the investor should

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be answered in a plan. And that's part of clear

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communication. Of your vision, of your plan.

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That's how you bring others in, stakeholders

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in, investors in. And then, of course, beyond

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that, it's performance based. Right. Which is

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what you're talking about. You present the plan,

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you get the buy in, you get the funding. And

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now all you have to do is perform. Make sure

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you have your resources, you know, in place so

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that you can handle the performance and give

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those investors, you know, a return on their

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investment. And that's exactly the exact purpose

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of what we're trying to do for small business

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owners. Yes. Wow. Thank you for sharing that.

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I want to double down on what you just mentioned

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there, though. You specifically mentioned you

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need to have people in place who, if you don't

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know what you're doing, right? Even before you

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go talk to investors, even before you even approach

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maybe promissory notes or grants. Like if you

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bring people in who know what they're talking

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about, who they know what you need to do, who

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will help you build it together, who will help

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you bring it all together. It's more important.

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You don't want to be putting the cart before

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the horse. That's not how it works. There's steps

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towards it. You cannot just show up on an investor's

00:15:44.049 --> 00:15:47.029
day one day and expect him to just give you funding

00:15:47.029 --> 00:15:51.649
without you getting your crap together. Yes,

00:15:52.309 --> 00:15:53.850
you have to have the plan and you have to have

00:15:53.850 --> 00:15:56.769
the resources in place. And that resources is

00:15:56.769 --> 00:16:00.649
basically developing your network. Who's on your

00:16:00.649 --> 00:16:03.529
team? Who's on your team that's going to take

00:16:03.529 --> 00:16:06.210
care of every aspect of your business? Correct.

00:16:06.330 --> 00:16:08.110
Because let's face it all, if you think you're

00:16:08.110 --> 00:16:11.220
going to do it yourself, No investor is going

00:16:11.220 --> 00:16:16.460
to invest in that. Yes. And I want to add to

00:16:16.460 --> 00:16:20.200
that. Most business owners are terrible CEOs.

00:16:20.899 --> 00:16:24.980
The startups, they have no idea how to be a CEO,

00:16:25.100 --> 00:16:28.080
but they want to be because of whatever control

00:16:28.080 --> 00:16:31.320
or whatever limiting beliefs they might have.

00:16:32.480 --> 00:16:35.529
But in reality. They have a great vision. Most

00:16:35.529 --> 00:16:38.049
business owners are chief visionary officers.

00:16:38.629 --> 00:16:42.269
Exactly. I think they think because, like I said,

00:16:42.330 --> 00:16:44.909
they have a great vision. They have a great product

00:16:44.909 --> 00:16:47.610
or service to sell. They're good at what they

00:16:47.610 --> 00:16:51.269
do, right? So that makes them a great CEO. No,

00:16:51.389 --> 00:16:54.549
that has nothing to do with business. Correct.

00:16:54.909 --> 00:16:57.899
It's a business side of things. Yes, exactly.

00:16:58.220 --> 00:16:59.919
I mean, they can probably go for the direction

00:16:59.919 --> 00:17:03.259
of the values and things about a business or

00:17:03.259 --> 00:17:06.359
they can learn how to be a good CEO. I always

00:17:06.359 --> 00:17:09.660
say, you know, get into your business and work

00:17:09.660 --> 00:17:11.900
in all areas of your business at first. That's

00:17:11.900 --> 00:17:13.519
fine. Wear all the hats, but you don't have to

00:17:13.519 --> 00:17:16.160
keep them all on. Find the ones that you're good

00:17:16.160 --> 00:17:18.180
at, that you enjoy doing and you can make an

00:17:18.180 --> 00:17:21.450
impact. And then the others, you know. Find somebody

00:17:21.450 --> 00:17:23.529
else. Bring in the experts in the other areas

00:17:23.529 --> 00:17:26.069
of that business to handle those other areas

00:17:26.069 --> 00:17:30.329
so you can focus on what you're good at. how

00:17:30.329 --> 00:17:32.430
you're going to drive the business and work on

00:17:32.430 --> 00:17:34.250
the business. Thank you for being here today.

00:17:34.430 --> 00:17:36.190
I'm really happy that you tuned in to Vision

00:17:36.190 --> 00:17:38.829
Pros Live. I'm looking forward to seeing your

00:17:38.829 --> 00:17:41.609
reactions as these episodes continue to move

00:17:41.609 --> 00:17:43.549
forward. This is going to get more and more fun.

00:17:43.589 --> 00:17:45.450
We'll have more and more engagement as well.

00:17:45.470 --> 00:17:47.450
We'll invite people to participate in the show.

00:17:47.509 --> 00:17:49.569
And thank you for giving us your time and attention.

00:17:49.849 --> 00:17:52.490
Have an excellent time building out your vision

00:17:52.490 --> 00:17:53.890
and becoming a vision pro yourself.
