Entrepreneurship and Networking

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The following is a paid program sponsored by Crawford management group and smart time consultants. Please be advised that the voices and opinions you may hear do not necessarily represent the views of K u and v Las Vegas, the University of Nevada, Las Vegas, or the Board of Regents of the Nevada System of Higher Education. Hi, this

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is Leah Crawford. And I'm Rhonda Nolan.

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Welcome to the let's talk with Leann Rhonda show.

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We're here for you and we're ready to go. Let's do it. Good morning, Las Vegas and happy Juneteenth of this hot Saturday morning.

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Happy Juneteenth happy June 8 And more importantly, Happy Father's Day, Father's

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Day to all you wonderful fathers, grandfathers, uncles, stepdads and all you wonderful men, I really hope you get an opportunity to enjoy your day with your family on Sunday.

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Yes, it should be awesome and amazing. I think I don't run I don't think sometimes we really take the time out to show appreciation to the men in our lives, the roles that they have to play the things that they have to do, and be supportive of them to all of the men out there. You want to know what Happy Happy Father's Day you know, they should go ahead, go out to dinner, do some fun things. Or NBA Finals, or NBA games. I believe they might still be on they might still be on you know, because this is the first time in a long time I actually it's been years since I've watched NBA Finals. met Ron Ron. The boys have always a ball on the ball of the boys ball. I'm watching them. And I'm sitting there and I'm like, wow, what just watching the different games, especially when we were at Top Golf on Sunday. Just laying back I forgot how much fun it is just to sit down. Especially out of venue. Everybody laughing and joking. Looking at the Games talking about different things. Yet NBA finals I think I think Phoenix is going all

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the way all the way. I think so west coast all the way. I

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think so i think so because New York, I mean, I'm okay. Yeah, so I'm not I'm not I'm not a professional. I don't know a lot about this. I'm learning as I go. Right, right. But I was watching because I didn't realize that. Brooklyn has a team, right? So I'm watching them on my Brooklyn Nets. Oh, there used to be New Jersey. So I'm watching Brooklyn, and I'm like Brooklyn, Brooklyn was killing them. And then, and then, you know, Carrie got hurt. And I'm like, Oh, okay. I think I think there might be a rapper that went but a watch in Phoenix.

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That's wonderful. So shout out to Phoenix Suns,

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right. So when we win the championship, we got to do something, we got to go somewhere and just hang out and just be in the, in the mix and vague because Vegas is open.

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Vegas is open. And as you probably will know, now, you don't have to wear a mask if you have been vaccinated. So if you go on strip to any of the casinos and restaurants, if you've been vaccinated, you don't have to wear a mask. And that's wonderful, you know, for you people who are tired of wearing them. But still remember, we're still in a pandemic.

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We are still in a pandemic. But I can say that it was just fun to be around people to feel the energy to have the conversations to watch the men good fathers had to watch the men get so excited about the game and you know, talk about different things. Even my son just being engaged. It just it felt good. I am looking forward to watching my next basketball game.

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And what Leah is talking about is Howard University was in town last week. Yes, they will tours for the bison and Vegas HBCU Alumni Weekend and they came far and wide to come hang out with us. Rhonda and Leah. Yes, thanks for the initial weekend and Shawn love and her so anyway, a whole bunch of our classmates came to town last weekend. And it was also special to see them because we had not seen them in about a year and a half, you know, due to COVID Almost two years. And so it was very wonderful to see our classmates and we all enjoyed ourselves and had a wonderful time. It was nice to be hugged. You know by the pool, have a good time. So yes, thank you for all Howard University bison became town

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last weekend and Jackson State Senate Bill Jackson State was in the house. I want to say Jackson, bam you think FAMU was was in the house? So it was it was a few different HBCUs ramblin the show we had some Grambling that showed up so it was it was very good to be in this I want to say mosaic not a mixing pot but just with these these professionals because then now we're we're alumni, we're professionals, and to mix the see what everybody is doing how everyone is doing some meet some new people to reengage with some people that you haven't seen in a very long time. Because I know people like Lee, I remember you from Howard. Yeah,

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okay. Also shout out to Wilberforce and Ohio Wilberforce them in the household. Thank you to all our HBCUs sisters and brothers that came out to support the Howard University event. We will be doing it again next year, same time, same bat place, but we'll let you know,

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we'll let you know, we will let you know and what I can say that it was an amazing time around a lot of professionals, because I think we had doctors, lawyers, accountants, different types of entrepreneurs, restaurant owners, you know, government employees. I mean, it was a, it was a good mix of just different people private and public sector, right. And you got to have conversations with them because they didn't have on their professional hat, right they had on there, you know what, let's kick it. Let's have a good time. And when I tell you, and Rhonda doesn't talk about herself enough, for this weekend, she had so much stuff planned, that one of our close friends here was like, You know what, y'all need to give a training course on how you why you handle this, because I'm gonna need a week to recuperate from the events, because it was powerpack from playing golf, because some of us played golf. We dinner every night, because all of us like to go out to dinner at nice restaurants, then to a little party afterwards, if you smoke cigars, there was an event for you. If you wanted to bring the kids we know we went to Top Golf and we had a pool party, it was just so many things to do. And it wasn't it wasn't just for, you know, our age group, the youngest person, there might have been 21 oldest person, it might have been 60 or 70. So it was a good way to come around and get engaged with professionals. That's right. We're professionals in a different type of set. And

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it's all about networking. Everyone Yeah, is the name again, if you meet people, you meet them, you befriend them, you, you get to know them, so that if you ever can do any business together down the line, you already have established a relationship and you met them in the setting. It was very laid back very

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laid back very comfortable. Because I know next guest I sent you to think about skiing. Right? Okay. Right? Because my next thing is skiing. I don't I don't know how I'm gonna get on the polls on them on skis with the poll. I don't know yet. But skiing, skiing and golf. Those are my next two things in the upcoming year. But more importantly, being an entrepreneur, it was it was good to meet other entrepreneurs Yes, to sit down and talk about how they managed and made it through the pandemic right now. They didn't say it wasn't challenging, right? They didn't say that they you know, what they we talked about our challenges, we talked about how staying positive, being around positive people, understanding you don't know everything, and not being afraid to pick up the phone to say, look, I don't understand this. But having somebody that was competent, on the other end, to be able to answer your questions. You felt comfortable with them because you're vulnerable, because you don't know what's going to happen if your life is going to change. And it's real good to have that network of people, especially being an entrepreneur. Yes. You've been asked, we

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have several entrepreneurs there. And I sat down with each and every one of them. We just had real conversations. You know, one of them said, Ron, how did you survive this pandemic? I was like, Oh, let me get a cocktail until you

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let me get a car. Hey, I know because I got like several talking about different business ventures different things that they're doing some things they got put on hold, because of it. I love it. Because my I hadn't seen my accounting cohort in years. And we talked about some things, some things that we're possibly going to do together. But more importantly, you know, what's, what's your next in this accounting profession, right? You know, what do you want to do? What's that? What's that end goal? And it's, it's like, having those conversations where I'm not in competition with you, right, we're complementing each other because everyone is doing what they want to do. And making money doing it

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is true. I mean, it really was a great weekend overall, because I actually got some new business from this weekend. And I wasn't,

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I knew I was. You want to know what y'all came up with a whole business plan for me, I'm sitting I'm like, really? So so so so you, you just wrote the whole business plan and then five minutes, you just laid the whole thing out if I'm okay, got it, but just being open to that, you know, and again, the relationships or relationships can't stress enough the relate, especially being an a female entrepreneur, and being you know, just being okay with that. And knowing that, you know, I got what, I gotta go out here. I don't get a paycheck every other week, right? You know, if I don't do the work, I don't get paid. And I have to trust that when I do the work, that you're okay with the work that I've done, and that you're gonna pay me

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exactly, you know, and that's the wonderful thing that people sat down and we're very creative and thought about some new ideas and some new businesses, so small business owners. If you are thinking about you know, expanding your business or going into a different business, now's the time to get everything done. Now's the time to do your business plan. and your marketing, plan your financials, get your business license and get everything up to speed to be ready, because 2022 will be here very quickly. And I don't know if you've been watching and following the live events that take place year round, or coming back next year, ces will be here in 2022. South by Southwest will be in Austin, Texas in 2022. They've already announced it so. So live events are coming back in a big way. And for this city, that's fantastic.

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That's huge. So if your business model, especially cater to those in person events, and let me tell you what, because I did a small event on the strip a couple of weeks ago, everybody, the guarantees are going up 20 to 30%, because they're like people are so tired of being in a house. You know, if you've been on the strip in the past couple of weeks. I mean, it's wall to wall. People, I figured out I would drive down on it, because Tuesday is normally easy. Everybody's gone. I'm like they still here. Yeah, people, they just don't damp. They don't want to go home. No, they don't want to go home,

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they don't they're having a good time I will speak we had an event at the Paris casino and hotel. And I went to check in earlier because I was in a suite. So I figured, oh, let me check in my suite early about 7am get things going. They're like sorry, the person still in the room. They don't have to be out till 11 o'clock. And so we have to clean it. So come back around, you know, three or four.

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And that's a normally Oh, Vegas, you get you get early check in and get early check

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in. So then I come back to the hotel to check in about 415. And they say, Oh, your room not ready yet. And I said, Okay, well that that's a problem. I said, because I have an event that starts in about 45 minutes, and I need to get dressed. So they had to make some arrangements. And they fully did. They did accommodate me and they found me another suite to move into. So everything worked out. But yeah, people are coming. They're having a great time. And they're extending their space.

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And they're extending their stay. A friend of mine wants a fashion show. Yesterday was small. And he said Lee it was people everywhere. He said I figured I'm going like I said in the middle of the week, right? You know, in the middle of the day, right when the mall is normally you know there's a few people there. But you can really move because that's when I move around. And you know, I'm you call me secret squirrel, right? But when I do my secret squirrel mission is in the middle of the week. And it is. It's not the same anymore. I'm like we can you can go home. Well tell me what time you're going home. So I know when I need to come right, you know,

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and this week was Restaurant Week as well. So restaurants that are open and fully staffed, had great deals for lunch and dinner. I think today is the last day of Restaurant Week. So I don't know if anybody got a chance to partake in that. But hopefully you did. But maybe you can do it today. But the restaurants were just packed. I mean, luckily, I had my reservations months in advance. Well, we had to do that. Right? We were too but but yeah, so don't forget small business owners, now's the time to embrace one another and support one another. So if you have opportunity, please go out and support a small business. It could be a UPS Store, it could be a restaurant, it could be a flower shop. It could be an accounting firm, it could be whatever. But don't forget to let support each other. Don't forget to support some small business in your neighborhood or around your neighborhood.

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I got it. Well, my name is Leah Crawford.

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And my name is Rhonda Nolan.

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And we are let's talk with Leah and Rhonda. Well, we're going to talk about this entrepreneurial thing because right now, with with these challenging times, I know there's a money, a lot of money that that's out there. The first of all of PPP, people know that they will PvP close officially on May 31. And you either got two drawers or you got one draw if you are eligible for the forgiveness, apply for it. And if you got the first draw and second draw, there are two different forgiveness packages, right? You have to show how you spent the money to show the documentation and roundup and I've talked about this over and over again, because the rules have changed several times. But the last rule was 60% of it needed to be spent on payroll and the other 40% on business expenses in order for you to get it forgiven. Now there is a forgiveness application, I can't stress it enough. You know what email you put in you entered when you applied for said funds, watch the email because of forgiveness. These are the forgiveness applications are sent from your bank. That's right. So you need to make sure that you number one, read the application. First read what's required on the SBA site. Put all the documentation together so that you have it. And more importantly, when it's time to produce a button and make sure do your calculations beforehand. Look at your payroll look at the amount of money you got take the number times point six to see if it's 60%. Right. Just look at your stuff prior to

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and then submit it right because you can go to Google and put in PPP forgiveness application, you can print one out, you can print one out so you can see what the questions are. You can fill it all out so you'll be ready when you go back online to your bank and fill it out. You already have you can fill it out you already have

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your numbers and what I do because I'm a paper hoarder. Just to get the paper, put the paper behind, make sure that everything is in sync. And then you go ahead and you send it and then you upload it when you're ready to keep keep doing what you did send it off. And for and people complain, Oh, that's too much paperwork, guess what? Guess what, depending on what your PPP is, and it might take you maybe call it, you just you just don't know what your stuff is four to five hours to put it together. If you got $10,000.05 hours, that's $2,000 an hour, right? Due to forgiveness application, right, got it.

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You can do it. And it's not that hard. And you know, if you need if you need help with it, there are people who can help. There are people that can help you with it. So for more information

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70238257378 Again, 702-382-5737. Yeah, so

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it's no, there's no reason not to do this paperwork, because that was a grant to help out small businesses, it is free money. And as long as you use it the correct way, and you have the documentation to back yourself up. You're great. Well, the

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other side thing I want to talk about is because we're on the right now we're looking for non filers, big thing is non violence, non violence, because read the other day, the IRS has hired more people for to collect uncollectible accounts, people that haven't filed, and we are looking for those non filers. Again, to get into compliance, to talk about it real quick to get into compliance with the IRS, you have had to file your taxes since 2015. So if you met a plant person and filed his taxes and 20 years, I said, Well, okay, guess what, you got free money for the first 15? Well, you know, well, I'm sorry, the first 14, right, because the next six, we have to file those returns, right? And because they'll say, you know, we're not looking for a return, we're not looking for a return, we're not looking for return. And I'm telling him you're blessed, because they would have self prepared, they would have IRS prepared those returns. Yeah, didn't do that. And we're looking for those people, you haven't filed the returns, you know, your your you know, you can't sleep at night precious high, you don't know what's going on with yourself because you haven't filed those returns, you not filed returns. So we're we're looking for those people to work with them to get those returns filed. Because now the IRS is already up and running. They're hiring they're, you know, trying to get the staffing in to be able and I don't want to say go after but inquire about why haven't you filed those returns, and instead of them contacting you be proactive? Look here, this is what I have. This is what I did file returns, especially for self employed people. You set these LLCs up? You set these escorts up. taint filed a return? Yeah, it's time to come clean people time to complaint time complaint. You know, in the past three weeks, I run across, I want to say about 30 people easy. And being in business part of being is in the in the you working in the business, but you have to work on the business, right? So in working on the business is doing the things? Do you have your business plan? Because that's your plan in what you're doing? What's your marketing plan? How are you marketing your products? And going back? You know, because I mean, the sales is one thing, but you got to work on the business, right? Have you done your tax returns? You know, are you doing your financial statements on a regular basis and not I got money in the bank, and we'll spend it. But I got money in the bank, I have this budget, you know, because I'm now I'm big on budgets, you know, you want to earn X amount of dollars, you got the plan to get there. Now the money starts coming in? How are you going to spend it? It doesn't mean you got to check you go to the mall? Well, right? No, no, you got the check. Let's look at the plan. Let's see how we spend set funds. You know, like, for me, it's payroll every other week. So I mean, every twice a month. So for me it is at the beginning of the month, I need to have all the business expenses for that month in the bank. And then we're working on the next month. And I did that routine for a number of years. So that now the money is sitting there for a couple of months, right PPP and all that stuff helped. Because it enabled me to really go back and really say, you know, really save the funds to be able to know that we won't be in business at least for the next six months. I know that right? You know, and on after that, but it was consciously looking at my numbers consciously understanding. Okay, so if we're out here advertising and meeting people, what is the ROI on that? Right? What is the ROI on? If I'm going to an event and I'm spending x amount of dollars, how much does that event? What is it going to generate for me in order know to help my business right? Because how do you build the wealth and it's like taking these small steps all the time, you know, and one key thing someone told me this a long time ago every morning when you wake up you might do your whatever your routine is, make part of your routine looking at those bank accounts

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every morning Oprah said that 20 years ago, always look at it Even if even if you have a child or anybody, you go to your bank account, you open it up and you look at it, you make sure everything is good.

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And you look at the checks, and I tell I don't care how much money, how much money you have, sign your own checks, right? Yeah, sign your checks, you won't you want to know more, I need to know the money that's best that's rolling through here, especially as entrepreneur. Now when you get into the bigger companies, it's other checks and balances in place, because you have to, you know, you are your public, publicly traded company, there are other checks and balances in place. But I've seen things, you know, where people have gotten paid, and when working, right, you know, I've seen things where, or seeing things where people are working in collusion with each other, make sure you understand how your money is flowing. And make sure like because I know for me, not only do I look at it, but I'd go to the office and I reconcile it. And sometimes I have to think to myself the heck did I spend that money? Right? You know, and I had to look at the banks and Okay, well, let me let me okay. Oh, yeah, I did go to Okay, I did do that. But when I do that, it is me checking to see working on my business and not in the business, right every day, every day working on it. And if you have multiple bank accounts, you know, phones, it used to be the old fashioned way. You know, you had to wait, so you got the bank statement. Now you can check it daily, not just all day,

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I just checked, my right now is thinking about I was like, Oh, I rented a house was born. I didn't check one of my account, right? Oh, let me just check

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for I'm not gonna lie, I got a thumbprint on mine. So I sit there every morning, as I was talking to you this morning on the phone when I was sitting. I was like, Alright, okay, cool. Okay. Okay, so I ate lunch, too. Okay, got it. And I need to, because, too, it helps. Especially when you are doing the numbers. And you can look at how much money you're spending. And it makes you look at your habits. Like I know, I got a real bad Starbucks habit, right? So what I did was I got the app, because I was spending money. So I was like, I need I need, I need some some. So they give you points and some more stuff. So right now, twice a month, I get free drinks. But I'm learning but I'm learning to be smarter with it with the credit cards that have points. You know, use those credit cards, get the points up, you want to go somewhere now you use the points. You know, I have another friend he travels all the time. So now but he gets to travel with him on Southwest,

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right? So she is absolutely correct. Like, I didn't know the American Express, I have the American Express Delta SkyMiles right cart reserve card, and it's $500 a year however, it's worth it. Because when you travel, it gives you free entry to all of the clubs when you're traveling. And you have layovers, right. When you go into the Delta SkyMiles club, there's food, beverages and all types

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of stuff. So you're saving money, you're saving money, which is, especially if you're travel travel a lot if you travel a lot. Yeah. So depending on your, your life and the style, right? You know, we'll determine it. I know for me, people talk about what you know, well, I'm not there yet. But if you want to be there, you want to know what to do when you get there,

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right. And so what also happens is that for every dollar you spend, right, they give you points on delta. So and it helps take your your, like if you're a Gold member, or a Silver member, or whatever, it helps you increase your eligibility to go to the next level. Yeah, so if you spend $25,000 In one year on this car, and you pay 25,020 $5,000, one year, they wave you in

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and see 25,000 might seem like a lot, but it's not what we meant when you view our business process. $2,500 a month, right? So basically, instead of you using your checking account and paying for everything, you're just paying for everything with the car, then paying the card back with your check, correct. You're itemizing it on your financial statements. Okay, so I pay for advertising, I pay for supplies, I pay for software, I pay for class, and now you're getting a multiple effect from the dollars you're spending Exactly. And the thing about it is guys, we have to learn to be smart, with our money, right smart with our money. And just learn different tips and different tips and things you need to do you know, like, even if you want all around I want us to brace my own with investing. We will

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next month we will have an investor on here that talks about you know how you as a small business can invest.

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And we because we need to Yeah, we need to we need to we need we need to invest because think about small business owners is that

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we'll have retirement plans. No, most of us don't.

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Most of us don't have retirement plans. And I don't know about you, but I'm not trying to be 70 years old Tom, I was laying around on the radio. I'm gonna still be here ladies and gentlemen. I'm not saying that but she'll be she'll be Rhonda and Leah's gonna be in the south of France and we're talking about hey, all right, Rhonda, did you enjoy the show? I'm gonna be in the south of France. That's where mine is travel. I'm gonna see the world I want to see the world I am going to see the world and setting up my life to do so. But it was setting that vision that this is what I want. This is what I want to do and I'm willing to do the

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work right so to get there small business owners you we have have to sit down and put together our plan for retirement, which means that we have to have some money saved in different accounts to make sure that when we decided to step back from our business that the business goes on, but then we are able to live comfortably in perpetuity,

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in perpetuity as they call in perpetuity. And the thing about it is, is that you can be strategic, right in everything that you do. And as someone told me, you know, you think about it with the end in mind. What does that look like for you? You know, because when you think about brands that have continued beyond their founding fathers, like a Walmart brand, you know, okay, look, we're sitting at UNLV, station UNLV was the vision of somebody else, right. But today, we are educating people, we are continuing the legacy of what someone said, and we're buying land, we football teams, basketball teams, and honestly, everything around here was somebody's idea, right? came into fruition that grew into something else, right. And it can be you because what am I told me, there are ordinary people that just did something extra. They just did something extra. So I am Lea Crawford, I am Rhonda Nolan. And we are let's talk with Leah and Rhonda, let's talk with Leah Rhonda.

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And if you want to sit down and talk to us and shoot and we choose and listen, if you get any new ideas about any businesses, you want to, you know, run it past somebody, we're available. We do that.

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We do do that. We do do that for more information. 702-382-5737. We call that our whiteboard session. Yes. That's the whiteboard session. A whiteboard session is what I must say they are comical when I when I look back on them. I know they comical for me, I giggle afterwards. Some people leave when they Yeah, yeah, they leave it be on them. But

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they leave with a new understanding, and a better understanding it takes to run a business because we talk about every little detail of that business idea. And we do it within two hours we do and we talk about, you know what, you know, the many directions you can go with businesses, some of the things you need, some of the systems you need to put in place to get there. So we have really, really good conversations. And you know, several of those people have taken our advice and have moved forward and are doing very well in their businesses, and others took the time to step back to really think about what they wanted to do. And to put other systems in place to be able to be successful down the line, you don't have to just open up something tomorrow and think you're gonna be successful 25 Because it doesn't work like that.

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I wish if you want to, I can't click my heels three times and be in Wonderland. I'm just saying, I would like to write because the truth about being an entrepreneur and I say it all the time is baptism by fire it is baptism by fire because everybody is not built for no. And you have to be built for this.

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Entrepreneurs are strong, they are They're strong. They're strong willed, and they just have a great heart and they really believe in themselves they have

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to, because if you don't believe in you, nobody else will, you know, and what I what I love is being an entrepreneur, I wouldn't trade it I mean with the ebbs and flows, the good, the bad, the amazing and even when it wasn't amazing, it was amazing, right? But I will say the time freedom, the time that I was able to spend with my children the things I was able to do with my children and then understanding taking feedback doing the plan, do review plan, do review plan do review and watching from the work that I'm doing the income in the business increase and increase and I tell people it wasn't I didn't go it wasn't straight up to the top it was this then it was that then it was this dinner was steady then went up then and went down then it went up then it you know and but it was consistent. But what it did was enable me to understand I had to work on me, then work on me some more than work on me again, then go around the other side and do the back side of me. Didn't get back into the business and it was like this business is reflecting my personal development, my professional development. I take more classes now than what I did when I was in school. Right? More classes now but what I can say is we are Leah,

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and Rhonda

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and this is the end of our show run 30 minutes you're

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listening to Let's Talk with Lynn Rhonda. On K in UV and we are so happy you envy. Did I say that? Right? K UNV

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K is right there in front of you Rhonda. Oh my god, I'm right there in front. I was close. Okay, okay. Thank you to everybody. He Kevin, thank you for being our own with the thing that they call the running machine. Man. Our sound man, thank you to Ashton for allowing us to do the show. Thank you to everyone here at UNLV for having the vision to have a public radio station until next month

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until next month, Las Vegas. We'll see you soon and stay cool what's hot out there. Happy Father's Day.

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You have been listening to a paid program sponsored by Crawford management group and smart time. consultants Please be advised that the voices and opinions you heard do not necessarily represent the views of K u and v Las Vegas the University of Nevada Las Vegas or the Board of Regents of the Nevada System of Higher Education

Transcribed by https://otter.ai

Entrepreneurship and Networking
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