In this episode of the Fresh Money Monday regular edition of the show, we have special guests Meghan and Amrender to talk about how they started their business and how they managed to grow it to where it is today.
00:13:41.000So our main business started in 2018 when it came with e-commerce, you know, selling products online, Shopify, creating our own brands and everything.
00:13:47.000And then from there, we stemmed into more of the warehousing.
00:13:52.000Then we went to business coaching because a lot of the business, a lot of what happened was a lot of our investors, they were like small to medium business owners.
00:13:59.000So then when we started growing, they started asking me questions.
00:15:32.000I do a lot of the business relationships as well.
00:15:34.000So whenever there is a strategic partnership that makes sense, what I do is I'm the first line.
00:15:40.000So I'll sit down, I'll have the meeting, I'll discuss the business, we'll go over the financials and see if there is any value that we can bring to the company.
00:15:46.000And then from there, it moves up the chain upwards to MREnder.
00:15:48.000And then from there, we, you know, finalize the contract, partnership, you know, whatever that looks like.
00:15:54.000So recently we saw in the actual news cycle, a CEO caught on camera at a full-play event, right?
00:16:02.000So listen, I know you're a CEO yourself.
00:16:25.000And then was it earlier today that you were saying you saw something, you read something about like the wife for a new or something like that?
00:16:35.000So I had actually seen something that supposedly the wife had already knew that this guy had been cheating for some time.
00:16:40.000And it was a whole setup to where, you know, she knew that he was going to be there.
00:16:43.000He knew that he was going to be there with the woman he was having an affair with.
00:16:46.000And basically, long story short, she basically played it out to where he would be caught on camera.
00:16:51.000Because at the end of the day, the other girl that was there, she, again, allegedly would be the next one up in line to take over, you know, an HR position or some sort of manager position if the CEO and then the head of HR were to step down.
00:17:07.000And then obviously the wife ends up with half, you know how that goes.
00:18:12.000Oh, you're traveling, you're doing this and all kind of stuff, but they forget is that the guy is sacrificing his time with his family and kids so you can freaking go to sleep and be okay.
00:18:22.000You have the nice car and all that kind of stuff because of this guy sacrificing all that stuff.
00:19:08.000But Myra, let me ask you this, though.
00:19:10.000Miguel was telling me is after that happened, how many percent increase was there on views of the company?
00:19:16.000So I don't know the exact percentage because I don't want to get quoted on it, but I know that their actual search via Google had went up tremendously.
00:19:22.000So people that didn't know the actual company, like for instance, like myself, I didn't know who Astronomer was or whatever the company was.
00:19:32.000But then you start running up, you know, like after this whole scandal, all the Google searches, you know, who's Andy, who's, you know, who's his company, everything like that.
00:19:38.000And then, I mean, shit, like from what I've read, I've read that investors haven't pulled money whatsoever.
00:19:45.000I asked when Miguel said that during lunch, I asked him, I was like, Miguel, so let me ask you this: Do you think it has to do something that's more of like a play to beat competition?
00:21:26.000So listen, I want to know for the audience here, let's say someone's 21 years old, they want to get into business, how should they start?
00:21:34.000Like the main thing where a lot of people they're lagging is like I was saying off camera as well, too, it's AI technology right now, right?
00:21:41.000I've seen, there's a company called, I think it's called Kluey.
00:21:44.000So we're doing research on this company.
00:21:46.000It's a 20, 20 year old, 21 year old developer.
00:21:48.000And he created this company where basically you have it on your Google Chrome and it listens to you and it'll give you feedback.
00:21:54.000So let's just say if you and I were doing an interview and I could click on there, what's a follow-up question on this?
00:23:56.000Your complete structure of things changes.
00:23:59.000Now you have leaders who are managing other teams and then other teams and other teams and other teams.
00:24:03.000And then nowadays, since we have a lot of technology, we're able to use a lot of VAs from across the world.
00:24:10.000It makes it a lot easier for us to spread and grow our companies a lot further.
00:24:14.000But if somebody who's 20, 21 years old and doesn't have that experience, imagine how many mistakes they're going to do when they get that money coming in quick.
00:25:41.000Like, why is it that for the longest time, you could only get an Apple charger for your cell phone when everything else was universal?
00:25:46.000It's how can you repurpose and how can you retarget that same customer over and over and over to get as much revenue out of them as possible?
00:25:53.000That's the other thing, too, is what we build in our company as an ecosystem.
00:27:55.000Or I said, dude, I'll work for a company for 30 damn days and put my company on pause because I'm going to learn something, bring that back to my company and my company's value is going to increase.
00:28:02.000I only need to learn one or three things, you know?
00:28:05.000And then from there, boom, boom, watch what happens.
00:28:07.000But that's what a lot of people, they don't do.
00:28:09.000Have you seen Ashton Hall's video, his morning routine?
00:28:51.000Wake them up, get them ready and all that kind of stuff, get charged up.
00:28:53.000And on my way to work, I usually listen to a podcast or make some of my high phone calls, which I know are going to lift up my energy and everything.
00:29:01.000Boom, get into the office and we're going.
00:29:02.000And then after that, obviously towards the end of the day, go get a little workout in one hour, hour and a half.
00:29:09.000Sometimes I'll be like at the gym training, but I'll call Miguel.
00:29:12.000We're discussing a business or something like that as I'm still training, but I'm doing two things at once, trying to be as productive as possible.
00:29:19.000But the theory I like to use is, is in the 24 hours, how come Elon Musk is able to do so many other things and he runs the most successful companies in the world?
00:30:02.000It works because he was able to build a business on, you know, using other people's talents and claims all the credit, which is still a genius move.
00:30:33.000Other than obviously getting into the business world, what can they do to kind of like, I guess, accelerate this growth in business, you would say?
00:30:42.000First thing is, I don't see a lot of people reading a lot of books, right?
00:30:45.000They do not, that's the information right there, man.
00:30:48.000You know, there's so many good books out there, like Patrick Bedavis in your next five booths.
00:30:52.000You know, if you don't know what you're going to do for the next five years, it's what I like to say is like a man is the one, the most dangerous man is the one who's disciplined, determined, and knows exactly where he wants to go.
00:31:02.000So that's why I ask everybody is what's your five-year plan?
00:31:05.000If you don't know your five-year plan, then how are you supposed to know which direction you want to go?
00:31:09.000So anybody that wants to partner with me or work with me, I always ask the question, we create a five-year plan, then we go from there, right?
00:31:15.000So for us, it's like if you're, if you're becoming a lawyer or a doctor or something like that and you can't even work and you want to work with us, what's the point?
00:31:36.000A lot of people have shittier friends.
00:31:38.000You know, so you have, that's the hardest thing to do.
00:31:40.000I mean, I let go of my majority of my family, even my parents too, for almost like two years to stop talking to them because they were bringing so much negativity on the table every single time I would try to do something.
00:33:12.000So one of the first things is just like with the whole business relationship side of things, right?
00:33:16.000So we're a very tight circle in regards to how we operate.
00:33:19.000We have certain standards that we follow.
00:33:22.000And just in regards to the growth, we want to make sure that it's solid people that are joining the team.
00:33:26.000One of the worst things that you can have is turnover, right?
00:33:29.000And one of our ultimate goals is always having someone, you know, to be, I mean, essentially a lifetime member of whatever it is, right?
00:33:36.000Whether it's a company, whether it's, you know, it's a group, whether it's, you know, whatever you want to call it.
00:33:40.000So one of the biggest things that we do is a vetting process.
00:33:42.000So again, whether that's reaching out to someone like myself or someone else on the team that's also like an executive, whatever that may look like, something as easy as sending a DM, right?
00:33:51.000Hey, you know, like, I see what you guys are doing.
00:33:53.000You know, I'm located in Northern California.
00:34:03.000Like I can tell you right now, the majority of our deals that we've ever closed, I would say probably what, 70, 80% of them have always been in person.
00:35:39.000And yeah, pretty much from the time that he was 17 in December of this last year, all the way up until February, he started working with us prior to him actually graduating.
00:37:35.000But then they also see like what type of entity structure you have as well.
00:37:39.000You know, so it's like having the right documentation, an office, a 1-800 number, website, all that kind of stuff.
00:37:45.000So we see those kind of files because one of our companies called Cambush Capital Solution, and he's a master at that.
00:37:50.000And we see files coming in all the time.
00:37:52.000And it's just little tweaks of the way entity is structured and everything.
00:37:57.000It determines what kind of funding you can get.
00:37:59.000But easily when it comes to e-commerce, you can get very low rates, $300,000 to $400,000 or $5,000.
00:38:03.000If not, why don't you find somebody who's looking to invest and make them some type of an equity deal or some type of a play where you'll return them a principal or XYZ?
00:38:14.000A little bit higher risk for the investor side, but a lot of investors that are doing that.
00:38:17.000So how should it structure it to get a, I don't know, 100K loan, you would say?
00:38:25.000So basically to get 100K, just depending on who you're utilizing, a lot of the times there's certain companies, and obviously it's one of those things where you have to vet the companies out.
00:38:33.000There's a lot of people on social media saying, you know, you can walk in a chase and get $50,000 to $100,000 cash bullshit.
00:38:42.000In a way, yes, but there's a structure that has to go along, right?
00:38:45.000So if you vet out a company, if you do your research, obviously, again, you can't expect to just get $100,000 up here out of nowhere, right?
00:38:52.000You got to do some research, see what you need, see what type of entity, see what type of entity is being loaned, higher amounts, lower interest, whatever that case may be, and then just go from there.
00:39:01.000Again, there's companies, not just ours.
00:39:04.000you can go with company X, Y, or Z and try to get $100,000, $200,000.
00:39:08.000And you're looking at maybe a $5,000 to $20,000 upfront fee.
00:39:12.000And then typically, there's what's called a success fee.
00:39:14.000So, if, say, for instance, say there's a company charging a 10% success fee, I want to get $100,000, right?
00:40:01.000Because then from there, that could start to set you back.
00:40:04.000You can be making money, but if you're not being smart and you're wanting to take it, be greedy and not follow the, you know, the long-term play, well, it's going to bite you in the ass in the long run.
00:41:06.000There's the bottom layer and then there's a topper layer.
00:41:08.000So we're partnering up with this one company where they, the minimum investment with them is about, I think like 20 million or 30 million dollars and you're literally controlling the whole chain or something like that.
00:42:44.000Because the majority of the courses, what happens is they're just going to give you the little things so they can sell you more, more, more, more, more.
00:42:49.000But let's just buy five or six different courses and see the different strategies and see which strategy you think is going to work the best.
00:43:06.000The biggest mistake I've ever made was partnering up with the wrong people.
00:43:09.000This was back when I was 20 years old when I got my first business as a GNC.
00:43:13.000So this is a former guy that I worked with.
00:43:16.000And yeah, so we opened up application and then I was working my ass off there.
00:43:21.000XYZ, he was the one pretty much telling everybody, like, he's the boss of the shop, but we're 50-50.
00:43:27.000That's the other thing is when you're partnering up with someone, you have to see who's doing more in the business and then make the partnership off that because capital can be brought from anywhere, right?
00:43:38.000For some amount of work that's put in there.
00:43:40.000So a deal like that would be rather than being 50-50 should have been where I've got more of the equity because I was in there every single day.
00:43:50.000I mean, shit, I remember when we first got it, it was a brand new location.
00:43:54.000And I was working there literally for, I think, eight or nine months from open to close.
00:44:01.000And I remember two times calling him like, bro, can you just watch the shop for 30 minutes so I can go get a haircut next door was a freaking, not even like a women's salon, you know, just so I can get a freaking haircut, you know?
00:44:12.000But what I'm trying to say is like partnerships is the biggest thing that matter in your business because that can literally break your business, make your business whatever it is.
00:44:21.000Even if you're a couple and you go 50-50, it usually doesn't work out.
00:44:25.000And you got to learn how to navigate those situations.
00:45:27.000No phones, no Zoom call, no text message.
00:45:30.000And the reason for that is when you have the emotions in person are a lot different than phone calls, text messages, and Zoom calls, right?
00:45:38.000You have to learn how to read people because you might be saying something on the phone or something like that.
00:45:42.000But if when I'm in person, I can read you if you're nervous or not.
00:45:47.000And then on top of that, too, you and I can have a conversation behind closed doors and agree on something.
00:45:52.000And then if I'm not there, that's not fair for me.
00:45:55.000But if we're all there and we're all on the same page, things move a lot slower.
00:45:58.000So what I'm trying to say is when you have the non-negotiables, we write all of our non-negotiables and there's a separate document that I have.
00:46:04.000I call it the Declaration of Business, right?
00:46:06.000And so we put all of our, you know, what are our non-negotiables and we sign that shit and then we get into business.
00:46:11.000You know, so everybody, what I'm saying is you're putting standards of everybody agreed to this before we do anything.
00:46:16.000Then from there, you have quarterly meetings, then you have monthly meetings, and there's what?
00:46:20.000Some meetings that you have to do between your partner, some meetings you have to do between your employees.
00:46:24.000And you've got to understand that thin, fine line.
00:47:08.000Try to get whatever you are and try to monetize it in multiple different locations like TikTok Shop and then also running your ads on TikTok.
00:47:14.000We've seen a huge increase from Instagram, Facebook, and Google ads and TikTok.
00:47:22.000And then just to add to that too, like I was talking about earlier, just retargeting those people.
00:47:26.000Obviously, if someone's purchasing from you, retargeting them, creating, you know, having a system or a CRM where you're able to track all of your, you know, your customers and then retargeting them.
00:47:37.000You have a new product that you're starting to sell or anything like that, boom, offer them a promotion.
00:47:42.000Hey, you purchased this item, leave me a review for a discount, retarget them, go over and over and over because at that point, you're not having to actually pay for leads or for more customers or any type of ads.
00:47:53.000You're just able to repurpose those same customers.
00:48:48.000You know, like we have an operation in Dubai, right?
00:48:51.000I'm sitting here, but the operation is running in Dubai in the Philippines.
00:48:53.000We have e-commerce running there, but I have strategic partners doing all that and I trust them.
00:48:57.000And then we're just working great off of that.
00:49:00.000It gets to a point where you get to a certain revenue where you have to, as a CEO, you're just the visionary and the growth guy like I am right now.
00:49:07.000And then I have executors like Miguel.
00:49:09.000There's the one over there executing exactly what I want.
00:49:53.000And then it's my job to put more stuff on him to keep it growing and so he can produce more income.
00:49:59.000Then he said, now his next goal is to get a house for his son and then have it the way he wants it.
00:50:05.000So now we're helping him, you know, helping him strategically grow the wealth that he wants to with all of our companies investing, all kind of stuff.
00:50:12.000So I'm putting more plate on him so he can do that.
00:50:16.000And then from there, when you're a CEO, you want to make sure that your base, your mission and your vision is always just you're the one that pushing the shit out of every single day.
00:50:26.000You as a CEO, you have to be the strongest guy.
00:51:41.000But again, just like how he was saying, you got to start putting things onto those people's plate in order to see how much they're able to handle and how much they're able to produce.
00:51:50.000Like, for instance, if he had to do the, you know, the sounds, the visuals and everything like that, he might not be able to.
00:51:57.000But if he's like, but if he has another person and then, say, for instance, say you guys wanted to have another production, say, in Las Vegas, right?
00:52:04.000You guys can have another podcast studio.
00:52:05.000He's able to teach the next person, the next person, the next person.
00:52:36.000From that one, it's called In the Tank with the Sharks.
00:52:38.000And the reason for we're doing that is, just like the questions you asked me, like, how do you scare your business?
00:52:44.000Rather than us asking questions, we're opening up to the floor.
00:52:46.000Where if you were to walk into the show of Shark Tank is what questions and how do you set your company properly so you can get your VC money, PE money, investors, and all kinds of jazz.
00:52:58.000And I feel like they've never done that.
00:52:59.000So it's more like a Q ⁇ A panel, you know, because personally, I want to know too.
00:53:31.000Number two, he's preaching what you guys are preaching, how to men to be alpha men.
00:53:35.000So he puts in one week and he teaches them business, finance, but then he puts them in the trenches of, you know, the army training stuff in the mud, cold plunging, all kinds of, he's doing that.
00:53:44.000And then he created another program for father and sons to do that.
00:54:26.000She's the one that I feel like OnlyFans and all that kind of stuff, like you guys talk about, she's the one that's really pumping that shit up.
00:54:32.000You know, it's some of the stuff in this world, I mean, it makes no sense.
00:55:18.000You know, if you have a company who's doing $8 million and you want to get into three new states and you're getting a contract with $6 million, now your revenue has increased to, what, $14 million?
00:55:27.000But your COO, your operator says, dude, we're already, we can't even fulfill our current orders.
00:55:34.000How are we going to fulfill our new orders?
00:55:36.000How do you navigate those conversations?
00:55:39.000You know, what do you do at this point?
00:57:13.000Oh, while you guys wait, go ahead and jump on my stream on Myron Gains X. I went ahead and covered the interview that they did with your boy Netanyahu with the Nelboys.