-Do accounts charge you based? Is it, you know what I'm saying? How do they charge? -It's really weird...
-Accounting in general, has that been something that you've worn the hat and done yourself?
-I guess I was asking him too many questions and he ghosted me and I'm like...
-Is entrepreneurship, is that the word? Is that cooked into somebody's DNA
like because I know it is to something. -It's cooked into mine. -Yeah, right. That's what I'm
saying. But there are people like you who wake up and they go, "I can't work for the man.
I will never work for the man or the woman. I can't do that. I must pursue my own concerns,
my own business". But really, can anybody even if they're not born with that gene be an entrepreneur?
I mean or is there... I mean, honestly, aren't there people who just are born to fail? -I think...
I think that by preference and what would actually be bring people joy and fulfillment in their life.
I don't think entrepreneurship is a right fit for everybody. I think some people are going
to find more joy and fulfillment without the extra burden without the extra weight and responsibility.
Like the fact that it took me 15 and a half years of struggle before I finally succeeded
not everyone can hack that. But on the other hand, I do think that everyone could
become an entrepreneur and I think that there's a lot of lessons and benefits that can come
from entrepreneurship. It's because there is so much learning from failure and pivoting
and changing and adjusting. Like as an employee a lot of times you don't get to do that. You don't...
You don't get to be as creative. I know when I had that telemarketing job for a while.
I saw some things that were falling through the cracks. I saw there was a lot of turnovers and I
went to management with some suggestions and they told me basically like stay in your lane. You know
like thank you but we know what we're doing and I'm like okay but you don't. Because that's how I
am, right? You don't get to be as creative and the systems are created for you and you just
run the system. I mean, I remember I was going back in my college days I worked a temp job and I was
sitting at this machine and these popsicles would come by and I think, I'm trying to remember. I think
I had this action I would put popsicles in a box or something and it does eight hours. Boy was I
sore. -Like, yeah. -But there's no creativity there's no innovation. That's obviously an extreme
example. But there's no problem solving like if the machine broke it wasn't me that fixed it and maybe
over time it would be and I'd learned that stuff. I don't know. But like as an entrepreneur you
have to learn. You wear so many hats from sales and marketing, to bookkeeping, to you know
invoicing and collections, to product development and pricing, to you know web design, to logo, to
any messaging, to public speaking, to fulfillment and keeping customers happy. There's you're
handling everything and you have to kind of create each system and then hire a person around that
system and create a system here hire. So, it's a personal development program like I mean,
you've got religion. I love religion and that's an amazing personal development program and next
to religion entrepreneurship. Entrepreneurship is an amazing personal development program.
I would propose that somebody would learn far more in a year of entrepreneurship than they would
at the most intense university. -Oh, no question. -So, because it's hands-on it's applicable.
-Right, it's not just the academics it's actual practice. That always don't get me started.
You know about the business school professors that have never actually held a job. You know but are
making x amount of money and have tenure teaching others about how to run a business that they've
never actually done. That's a whole other, that feels like you, like that feels like an argument...
Now, you talked about... You mentioned something that makes me think of finances,
accounts payable, accounts receivable, accounting in general. Has that been
something that you've worn the hat and done yourself or how is it now? Who... does that?
-That's something that I'm really having to jump through new hoops now because my business
is in a much more profitable level. Where way more taxes than I've made income before
and I've been with a great accounting firm.
I've been with them for over 20 years. When I used to do my door-to-door cells I was referred to
them and they did such a great job. I paid way less taxes than all my you know summer sales buddies
until I referred them there. But I stayed with them all along the way but now, that I'm making more
revenue and I need to kind of plan for the future they're really good at looking at the numbers and
just calculating. Okay, this is what you've done. This is how much you have to pay. They can do
that type of return but as far as being strategic and moving forward and they've also given me my
pushback. Like this shirt, I don't wear it other than when I'm on video. Like I don't take it home
I leave it here at the studio house and so this shirt is a tax write-off. -Of course.
-And my accountant my former accountant argues with me about that. I'm like, I'll get an audit whatever.
But this shirt is a tax write-off. So, there's just been pushback. So, with accounting
I don't know what I'm doing. I have to have professional help. But there's certain
things that I've had to learn. I've taken courses. I still don't know how to create a balance sheet.
I let the accountants do that but I know how to do a profit and loss. I can do that on my own.
I do payroll on my own still. -Oh, you do? Very good. -It's easier because I don't have
to worry about... With independent contractors, I don't have to worry about withdrawing taxes or
insurance or social security. I don't have to worry about any of that. So, if and when I hire
a first actual USA employee I would not do that. I would let my accounting team do that. -So, you
would recommend even at the early phases of a small business that somebody
connect with an accountant and I mean, do accounts charge you based? Is it, you know I'm saying? Do they...
How do they change? -It's really weird. That's what's really weird. Sometimes I've gone to accountants
even just in the summer, I went to, I was talking to an accountant. He was giving me a lot of advice
forward-thinking planning, okay. This guy's gonna be great but I'm like, "You haven't charged me a
dollar how do you make money?", and he said, "Oh, well, when we do your returns you know that's how we
make our money". But I guess I was asking him too many questions and he ghosted me
and I'm like I offered to pay you for your time. -Yeah... you're starting to... you're
getting under the covers of all the secrets. -But he gave me a lot
of great advice and then he ghosted me. -Well. -I'm currently interviewing three new CPA's
and they all seem pretty good. I'm making my decision at the end of this week.
-Wow. Please, I'll be waiting to hear. Why would anyone want to be an entrepreneur?
-Because I can't see why people would not want to be one. But they obviously, not
everyone sees it the same way that I do. So, I love to be able to create to innovate. I love
control of my schedule. I love control of my income and yes, it was a struggle for 15 and a half years
but even during those years I just felt so purpose-driven. I felt like I was learning
I was growing as a person. So, to be able to create and there's no ceiling on my income.
Like the income that I make now I would not have even come close to be able to do that as a dentist.
But there are a lot of cons. So, I think that's why not everyone can hack it or not anyone wants to attempt
being an entrepreneur. -Like what? -Well, the 15 and a half years that I mentioned is a big one.
It's a risk into the unknown. Instead of being hired into a company where you've got
a guaranteed paycheck and you've got insurance covered or whatever. You know that at the end of
the month this is how much money you're going to make. This is my expenses and so I can budget this.
An entrepreneur doesn't have a budget in the beginning. You just if you need more
money you just go and make more money. -Do you have to be all in? -Oh yeah. -I mean, let me in other
words, could a person um begin entrepreneurship partially? Where look, I still have my job.
It still gives me insurance. I'm not sure that I can just pull a Nate and go 15 years. But I mean,
how would you respond to someone who says I want to do it part-time. -I would say join an MLM and I'm
serious about that. -Like MLM meaning multi-level marketing? -Or direct sales or kosher pyramid.
-So, but really the reality is you can learn the ropes. It would cut your teeth? It cut a
what not cut a rug? -Cut your teeth. -Cut your teeth. You could get an experience. -It's dancing.
-You can get experience. You can learn sales. You can start to make income. You can learn leadership.
I recommend it. I'm not recommending any specific one I'm not a part of anything. -So, you're saying literally
not to be hired by an MLM but to be one of the downline consultant owner or whatever they
call them. -Start putting on parties in your home. -Really? Because of the education. -Because you can
still have your job and it's like it's the system is already created and you can start
to learn the ropes. I don't think that I would have been able to successfully run my business or even
begin and survive had I not had those six years in world financial. Where else would I ever learn
that? I didn't know anything about money or management. I knew door-to-door sales but
I didn't know telemarketing or any of that other stuff. So, I actually do recommend it. I think if
you've got a job and you want to start a business on the side like it just needs so much attention.
You're wearing so many hats. If you're doing the product development and the fulfillment and
the sales it's just how can you do that part-time? I mean if you don't have a family maybe that's
possible like or you don't pay attention to them because you got a full-time job and a full-time
business. But I know in the early days my business took more than 40 hours a week so. -Yeah...
Do you find that the group of people that surround you now friends or otherwise are
different? -I've had to like find people to celebrate with like hey, can I celebrate with you?
-He's a goof. You know he's a mean-spirited rude, idiot.