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00:00You actually owe $80,000.
00:03Wait a second!
00:05Money affects every aspect of our lives,
00:07but most importantly, our relationships.
00:09You think it's coming off the top?
00:10Yeah, you said it.
00:11Oh, wow.
00:12I am Leah Collins, and I'm a financial relationship coach.
00:16But I heard you did.
00:16Yeah, I'm pretty good.
00:17One person has nominated someone in their life
00:19who is drowning in debt.
00:23I help people take control.
00:25Let's break the bad habits that are holding us back
00:28and keeping us maxed out.
00:39Have you ever noticed how family businesses can get real messy real quick?
00:44Well, today's clients are no different.
00:47They are a mother-son duo who co-own a bakery together.
00:52Nash nominated his mother, Miss Grace,
00:54because although she can make a mean cake,
00:56she has no idea how to manage business finances.
01:00So let's head to this bakery and see what's cooking.
01:10Good morning.
01:12Hi, how are you?
01:13Welcome to Grace Mysterious Bakery.
01:14I'm Leah.
01:15I believe you call me?
01:17Yes, ma'am.
01:17You're calling? Yeah.
01:18Oh, it's you?
01:19Yes.
01:19Welcome in.
01:20This is my wife, Gigi.
01:21Hi, Gigi.
01:22Nice to meet you.
01:23It's a pleasure meeting you.
01:24Thank you so much for coming.
01:25Absolutely.
01:26Come this way real quick.
01:26I don't want Miss Grace to hear.
01:29Babe, go distract Miss Grace.
01:31Okay.
01:32So what specifically do you think you need my help with?
01:34Bookkeeping.
01:35Okay.
01:35Letting her know more about the financials of the business,
01:38knowing how to run a business.
01:39We've done a great job here.
01:41Clearly, we wouldn't be here without having something that's successful.
01:44But I'm going to venture off into another career.
01:47What is the career?
01:49Sports.
01:49Education.
01:50That's awesome.
01:50But before I leave, I want to know this business is in great hands.
01:53And when are you trying to leave?
01:54What's my deadline?
01:55Probably six to eight months.
01:58Awesome.
01:58Well, I can do that.
01:59You can do that?
02:00Absolutely.
02:01All right.
02:06Miss Grace, this is Miss Leah.
02:09She's here to help you.
02:10Do what?
02:11Hey, get these books in order.
02:14Well, you talked about this, but you didn't tell me she was coming today.
02:16Well, surprise, surprise.
02:17Here she is.
02:20He can't hold water in a cup.
02:22How he kept this from me, I don't know.
02:25My God, I can't even tell you how excited I am to get this stuff straight.
02:28So thank you.
02:29Let's give you a tour.
02:30Let's give you a tour.
02:31Absolutely.
02:32Grace's Tears Bakery exists because in 2020, I had back surgery.
02:38I've had neck surgery, and I was extremely depressed.
02:42And one day, I got up and decided to bake a cake.
02:45And when I started baking the cake, I was happy.
02:48And then I started selling some things.
02:50And then it just kind of took off from there.
02:52She wanted to open up this bakery.
02:53It was a no-brainer.
02:54Yes, I'll be your partner.
02:55Yes, I'll invest in you.
02:57That's the lobby.
02:58It's a mess right now, but we're going to get it all together.
03:00The startup money is something that I took upon myself to do.
03:05Giving her almost $100,000 because I love my mother.
03:08It's her turn now.
03:09She gave me all the shoes.
03:10She's put me in all the camps.
03:11I made it to my dream, playing professional basketball
03:14in the European League for a total of eight years.
03:17And I made a decent living.
03:19So this was her turn for me to give back to her.
03:21And at first, I wasn't as invested because this isn't my dream.
03:25But as I got in the bakery over the past three years,
03:28I can't sit here and say I don't love being at this bakery
03:30because it's been great.
03:31Nash is an amazing son.
03:33And ever since his dad died when he was eight,
03:36he's been determined to take care of me.
03:38But now it's time for me to let him fly.
03:41In six to eight months, I'll be leaving Grace's Tears Bakery
03:43to go teach and coach our youth in middle school.
03:47But before I go, Ms. Grace has to get her finances straight.
03:50The bakery is really successful.
03:51We have celebrity clients.
03:53We have referrals.
03:54And the 813 five-star reviews speak for themselves.
03:57But we're not turning the revenue we need to because of debt.
04:03You'll see we have all drums.
04:05We have plasticware, more supplies, boxes.
04:08Instead of buying one, I'll buy five.
04:10So again, we don't need five.
04:12Don't use them all.
04:12We need one.
04:13Some of this stuff we can go without.
04:15This whole wall from bottom to top is full of those flowers.
04:20This is thousands of dollars just sitting on the shelf.
04:23About how much per box?
04:24Um, it just depends.
04:26Like, this box costs $40.
04:28Yeah, I was going to say $40.
04:29One box is $40.
04:30Yeah, she bought 10 of them.
04:32Yes.
04:32Why don't you just order them as you need them?
04:34Because they'll, some of them will be on sale.
04:36And then I'll order them because they're on sale.
04:38Person that has a shopping problem think they getting a deal
04:41when they want to buy something on a sale.
04:44I don't have a shopping problem that you don't need.
04:45Also, Ms. Lee, I got to talk about the biggest one.
04:47If you want to follow me this way, this is our office.
04:50This printer has been in our bakery for over two years.
04:54This is a $1,000 printer.
04:56$2,000.
04:56We have not $2,000 printer.
04:58We have not made a dime off of.
05:00What kind of printer is it?
05:01Like a laser printer.
05:02Laser printer.
05:03It does different things for toppers.
05:05We could say happy birthday, somebody's name in gold,
05:09purple, black, silver.
05:10Why haven't you used it?
05:11Because I don't know how.
05:12But again, we don't need a $2,000 printer just sitting in our bakery.
05:17I mean, this is just the beginning.
05:19Mm-hmm.
05:19I'm not even making a dent right now in the spending.
05:22And I'm afraid when I leave, it's just going to get out of control.
05:24Chad, please.
05:25You ain't my daddy.
05:26And I told him.
05:27As much money as I give you,
05:28should be my child.
05:29They don't make you my daddy.
05:30You wouldn't even be here to spend money on you if I didn't have you.
05:3317 hours of labor.
05:35You owe me, really.
05:39In business, you got to spend money to make money.
05:41We have everyday needs.
05:43But what she doesn't understand from my point of view is I'm not just your son.
05:47I'm your business partner.
05:49So if we're going to spend, you have to run it by me.
05:51This woman, just this last year, spent over $7,000 on breakfast and lunch in a year.
05:57I was feeding my staff.
05:59They don't make a lot of money.
06:00Did you budget for that?
06:01No.
06:02OK.
06:02So, Nash, about how much have you actually invested into the bakery?
06:06At least $100,000 of my own money.
06:09And I don't expect to get this back.
06:10You know, I really don't.
06:11I didn't do it to get it back.
06:12I do it because I love my mother.
06:14Are you not the only one that has put money into this bakery, Nash?
06:17How much have you put?
06:18$80,000, $90,000 of my own money.
06:21So what do you do as co-owner and what do you do differently?
06:25I mainly handle customers.
06:26I give people high fives.
06:27I give them hugs.
06:28I make them feel special.
06:30I do everything from the marketing.
06:31We're on all the social platforms.
06:33Anything from changing vents to washing dishes.
06:36And I would like to have more of a say in the financials moving forward.
06:40Do you manage the financials?
06:41Yes.
06:42OK.
06:42He has access to all three business accounts.
06:45OK.
06:46And he can see whatever he wants to see anytime.
06:48So it's not like he can't see it.
06:50But he really doesn't understand what goes out.
06:53So do you all meet weekly or monthly to have these discussions?
06:58No.
06:59So let's have our first meeting now.
07:00OK.
07:01Good to meet.
07:01How much do you bring in each month?
07:04Not enough.
07:04But I would say on average $15,000.
07:07$15,000.
07:08On average.
07:08And something that I really think we do need, and he's going to fight me on this,
07:12but I think we need a kiosk.
07:14People come in.
07:15They put their order in.
07:16And it goes straight to the register.
07:18Somebody goes up there.
07:19They get the order ready.
07:19They hand it.
07:20They're out the door.
07:21They're not having to wait.
07:22How much does that cost?
07:23I know, like $10,000 or something.
07:24I don't know, but it's a lot.
07:26But it's worth it.
07:27Would that increase revenue?
07:29Yes.
07:29You could double, triple your business in a week.
07:32And I have done my research on these kiosks.
07:34We ain't done no research.
07:35You don't know nothing.
07:37OK.
07:37I have.
07:38Maybe we can budget for that.
07:39That could be a long-term goal.
07:42I ain't done no research.
07:43So what do you price the cupcakes at?
07:46Well, the specialties are $4.50 each.
07:49The regulars are $3.95.
07:50In three years, we've not gone up on our prices.
07:53You know, and this is something he and I fight about.
07:55Because he always says, oh, mom, that's too much.
07:58I'm like, no, it's not.
07:59It's all about time.
07:59It has to cover your costs.
08:00It's all about time.
08:01And then it's not just about ingredients.
08:03And he doesn't get it.
08:04We've shown we can operate and be successful.
08:06But we're not making any money.
08:07But you have to make sure that you're covering your costs.
08:10And we don't.
08:11Yeah.
08:11And so I did a little undercover work last week.
08:15And I came in here.
08:17You did?
08:17I did.
08:22I came in here for one cupcake.
08:24But I ordered three.
08:25And banana pudding.
08:27Your banana pudding is the best banana pudding I have ever had.
08:31Oh, my God.
08:32There were fresh bananas.
08:33There was layers of vanilla wafers.
08:35I got all of that for about $20.
08:36I thought it was going to be way more than that.
08:38I kept telling him.
08:39It was about $22.
08:40Yeah, we're very reasonable.
08:41I've been telling him.
08:42No.
08:42No, we're not.
08:44Let's talk more about the debt.
08:46How much business debt do you have?
08:48Credit cards.
08:49Yeah, let's start there.
08:50How hard does the calculator go up?
08:53My credit card debt is about $60,000, I think.
08:56OK.
08:56I've got one, two, three, four.
08:58I think four loans.
09:00They're like $35,000, $40,000.
09:03OK.
09:03Between the four?
09:04Yes.
09:05OK.
09:05So how many credit cards do you have?
09:09I think 40.
09:11How many?
09:13I think 14 or 40?
09:15I think 40.
09:16OK.
09:1740 credit cards is crazy.
09:20Wow.
09:21I don't think I've ever seen this many credit cards at one time.
09:24And I've seen a lot.
09:26It's not as bad as it sounds.
09:30OK.
09:30Don't judge me.
09:31I'm not.
09:33Are you current on the credit cards at least?
09:35Oh, yeah.
09:36I'll pay bills.
09:37I pay more than I have to pay on them.
09:39But some have never even been used.
09:41So why do you have that?
09:42It messes up your credit if you close them.
09:44Your account history.
09:44Yeah.
09:45Just temporarily.
09:46OK.
09:47Ordinarily, paying off your credit cards, that's great.
09:50But if you're not paying the total off each month, which you should do, you're just paying interest on all
09:56of those credit cards.
09:57You're paying for these products, ingredients, three, four, five, six times over.
10:01You the problem.
10:03You the problem.
10:06There's a lot going on here.
10:08And although Ms. Grace and Nash bicker, I have to get them communicating effectively about the business and their relationship
10:15so that they can work together as a team.
10:18And before Nash leaves for his new job in about six to eight months, I have to get Ms. Grace
10:22back in the black.
10:23So before we meet again, I do have some homework that I would like you all to do.
10:27OK.
10:27You'll send me your financials so that I can review those.
10:30OK.
10:30But also, I have this Money Moves Makeover Workbook that I created.
10:34So really just help you get your finances on track.
10:36Beautiful.
10:37You're just going to identify three long-term goals.
10:40OK.
10:40So I got a lot of homework to do.
10:41Yes, you do.
10:43I honestly don't know why we're having a hard time making money.
10:46Because we have a good product, but we have to figure it out.
10:49That's why I'm just appreciative.
10:51Ms. Leah's here because if we don't get the help we need, things could get worse fast.
10:57We need to save this bakery.
10:58Thank you so much.
10:59No problem.
11:00See you soon.
11:01I can't say fun.
11:04Bye, Ms. Leah.
11:05Bye.
11:06Wow.
11:07Your total debt is $250,000.
11:12Holy .
11:13That looks insane.
11:26Hello.
11:27Good to see you again.
11:27I brought some treats of my own.
11:29Oh.
11:31This is interesting.
11:33I could do a little baking too.
11:33There you go.
11:34After reviewing Grace's financials, I was inspired to bake some cakes of my own to illustrate my findings.
11:39So how's it been going?
11:41Did y'all do the homework?
11:42I thought quite a bit about it.
11:44My short-term goal is to learn as much as I can from you.
11:48I mean, I've been inspired.
11:50Just a young black woman that's smart and, you know, knows her stuff and I can't wait to learn.
11:56And then my long-term goal is to take this business to the next level by doing all of that.
12:03Those are really good goals.
12:04I can tell you put a lot of thought into that.
12:06And thank you for all the praise.
12:07I appreciate it.
12:08But you may want to hold off on that because I do have a little something.
12:11Oh, okay.
12:13Oh, Lord.
12:14So, Nash, this is for you.
12:15Okay.
12:17I made it special just for you.
12:19Thank you, ma'am.
12:22Okay.
12:23Pull here.
12:26And just keep going.
12:27Oh.
12:28Shut your mouth.
12:29Are they real?
12:32Miss Leah's so nice.
12:33She know all the money I've given Miss Grace.
12:35She gonna give me some money.
12:37So, what this actually represents is the amount of debt that you thought you had, right?
12:41So, about $100,000.
12:43Mm.
12:43Okay.
12:44And Miss Grace?
12:45This is so exciting.
12:47I don't know if that is exciting.
12:49Are they not real?
12:50No.
12:51No, ma'am.
12:51How is that exciting?
12:52No, I don't like you now.
12:54No, seriously.
12:55This is unreal.
12:57Come in.
12:58Get out of here.
12:59Please, please.
13:00So, that's about $250,000, which is the amount of debt that you actually have.
13:06Holy .
13:08This is my debt, $250,000.
13:14You were close.
13:14Are you a little serious?
13:15Mm-hmm.
13:16Between Miss Grace's 40 credit cards, three business loans, and the money that she owes
13:22to Nash, she has a lot of debt to repay.
13:25Unfortunately, the bakery's expenses are way higher than the revenue.
13:30They're making $15,000 a month, but they're spending $17,000 a month.
13:34So, they're losing $2,000 a month, which is why they have cash flow issues, and she has to rely
13:40on her credit cards.
13:40That's insane.
13:42And we've had this business for three years.
13:44To be fair, most business owners don't turn a profit until three to five years, right?
13:50So, don't feel too bad.
13:51We just have to figure out how to really manage the finances.
13:54So, we're going to get the business revenue up and running, right?
13:57Your operating expenses down, so that we can pay this off.
14:01A lot of money that you owe.
14:03You part of this business, too.
14:05Yeah, you are.
14:06You are a co-owner.
14:06I want to holler, you a partner.
14:10I'm frustrated, because I've been trusting you this whole time.
14:13I know, and you should trust me.
14:15It's not like I'm stealing from the bakery.
14:17It's just that I'm spending too much, and I honestly can't even tell you what I'm spending it on.
14:23That looks insane.
14:26You had two accounts and collections.
14:28No, both of those I paid, and they said I didn't, and I'm not paying them.
14:33Definitely call your creditors and the collection agencies to figure out, first, if it's even, like, a valid debt, right?
14:38And what that's called is a debt validation letter.
14:41So, you send them a letter, certified mail, asking them to show proof that you actually owe that debt.
14:46And then try to fight it from there.
14:48If you do, you can do an agreement with them where you pay the debt and they remove it from
14:51your credit report.
14:52So, that is something that you can possibly do.
14:54That's why it's really important, too, to check your credit report at least once a year.
14:58You can go to annualcreditreport.com and do that for free.
15:01Also, what I suggest is hire a bookkeeper to set up the accounting system, get everything up and going.
15:05Correct.
15:06And then train you on how to do it yourself.
15:08And then check in quarterly, just to make sure everything's done appropriately.
15:11And if not, they can tell you what to fix.
15:13So, maybe you can do that.
15:14I like that.
15:15What cuts do you think you could make to afford a bookkeeper?
15:18Well, some of them flowers.
15:20We just talked about $10,000 or thousands of dollars worth of flowers.
15:24I'm not even buying those flowers anymore.
15:26Again, the lunches.
15:27Even later today, leaving the bakery, she had already, hey, girls, I'm gonna buy you lunch tomorrow.
15:31Oh, no.
15:32It was Cass' birthday.
15:34Today.
15:34It ain't tomorrow.
15:35I couldn't do it today.
15:36Well, she lost.
15:38You're just mean.
15:40And if I'm being honest, we can sell that laser printer that we're gonna have for two years.
15:45You are not.
15:45That we haven't got no profit from.
15:48We're not selling that because I'm gonna learn how to use it and we're gonna get profit from it.
15:51So you see how we're getting nowhere.
15:52We're not selling it.
15:53So anytime I wanna bring up stuff.
15:54That's because you yell at me like you're doing now.
15:56If you're accountable for stuff, then it all goes out the window.
16:00Stop yelling at me.
16:00She don't wanna talk about it.
16:01Is this y'all's normal dynamic?
16:03Yes.
16:03Every day.
16:04The communication between us is terrible.
16:06If I talked to my mom that way, I would've got slapped into next week.
16:10You don't know how to talk.
16:11You yell and you're aggressive and I don't respond to that.
16:15So maybe we can work on communication.
16:17Maybe that'll be a goal.
16:20And we also really wanna focus on the credit card debt.
16:22So I recommend people do the debt snowball method.
16:25Do you know what that is?
16:26So it's when you start with the debt with the smallest balance.
16:29The credit card with the smallest balance.
16:30Oh yeah.
16:31And you pay that off first.
16:32That's how I paid off my debt.
16:33I paid off $40,000 worth of debt in 18 months.
16:35And that's how I did it.
16:36So after you pay it off, did you cut the card up and be done with it?
16:39Most of mine I did.
16:40I kept two.
16:41I have to have more.
16:42And that's reason.
16:43That's reason.
16:44Not having 40.
16:45Right.
16:46But baby steps, right?
16:47So right now we're just focusing on small wins.
16:49So do you think that's something you can do?
16:50Just start on the smallest one and then after you pay that off,
16:53let's work on the next one.
16:55I do.
16:55My plan for Ms. Grace and Nash is to rein in Grace's spending
16:59and to increase prices so that they can make a profit.
17:02Hire a bookkeeper.
17:03Pay off those 40 credit cards.
17:05And most importantly, improve their communication
17:08so Ms. Grace can stand on her own
17:10and Nash can pursue his own career goals.
17:12When I get ready to leave, I'm praying all this is going
17:16to be beneficial so she can be in a better place
17:18and I feel good in my soul.
17:19And it will.
17:19It will.
17:20As God is my witness, you know I'm going to play with the Lord.
17:22All right.
17:23Sell the print.
17:24No, you're going to hold me to that.
17:25You're good.
17:27I have a little challenge.
17:29Ms. Grace, you'll be calling the shots.
17:31And Nash, you will be decorating cupcakes.
17:34He has to listen to Ms. Grace.
17:36Woo!
17:37Woo-hoo!
17:38This is going to be fun.
17:44Straight up.
17:47Happy that we never gave up.
17:50Shout it to the world.
17:52Good morning.
17:53Hi.
17:53Hi.
17:56Oh my God, tell me everything.
17:58Gigi is my daughter in love.
17:59And I don't say law, I say love.
18:02Because I love Gigi to death.
18:05And I most certainly value Gigi's advice.
18:07She's a problem solver.
18:09I want to know all about the advisor.
18:11Is she saying anything different than Nash has been saying?
18:14She's saying it differently.
18:16You know, Nash is, he tends to be harsh.
18:19Yeah.
18:19And that's when we go at each other and we start fighting.
18:21And you know, I'm not going to back down.
18:23He's not going to back down.
18:24And all of a sudden now we're in a big blown out fight.
18:26Yeah.
18:26Is she giving him advice?
18:27Not only you?
18:28She is.
18:29But it's really more so me because, let's be honest, I'm the problem.
18:34Yeah.
18:35I'm the problem.
18:36So what have you learned?
18:37I mean, I've learned that I need to really pay attention more of what I'm spending.
18:42I need to understand that my spending impulses need to be controlled.
18:47Now, at the time I didn't think it was unnecessary.
18:50Yeah.
18:50The infamous printer, you know, let's keep it real.
18:52Oh gosh, yes.
18:53I mean, that has been a topic of conversation at dinner for months.
18:57Maybe a year now.
18:58I don't even know.
18:59Yeah.
19:00I hear a lot about Nash's side and he's a lot more softer when he talks to me about
19:05it than when he talks to her to her face.
19:07And I know I've been there.
19:08I'm at the bakery working on some fondant.
19:10Then they're just going at it and it all comes from love.
19:13They just don't know how to express it.
19:15So you're not selling the printer.
19:16You want a $10,000 chaos.
19:19What are you willing to sacrifice to compromise?
19:21Not the printer.
19:23It's not going to pay for the chaos.
19:24It's only $2,000.
19:25I mean, everybody's talking about this printer like I paid $10,000 for it.
19:29I can't stand him sometimes.
19:31Like, I really can't.
19:32But you know nobody has your back like him.
19:36Oh, I know.
19:37Nobody.
19:39He loves me so much.
19:42Stop.
19:44There is no other son in this world like Nash.
19:50This is also why I get so anxious and so, you know, just nervous about him leaving.
19:57Gigi, I want him to go off and do what he loves to do.
20:02But he's been my everything.
20:04He's been my right hip, my left hip.
20:07He's been there for me.
20:08Like, what am I going to do without him?
20:10It makes me anxious.
20:13I'm afraid of failure.
20:15But you know, you know Nash would never let you fail.
20:20There or not there.
20:22Not with his competitive ass.
20:25If I do something that's going to hurt this business and the business goes under all the money, time, effort,
20:34love, sweat, tears he's put in this business himself, I would have failed him.
20:40You may feel like that now, but in six months, you don't know where you're going to be.
20:44You might be ready to get him out the door.
20:46Okay, bye.
20:46I better get out of here.
20:49And I'm always going to be there for you.
20:50I know you are.
20:51No matter what.
20:52I know you are.
20:53I love you so much.
20:53I love you too.
21:08Right this way.
21:10Okay.
21:11Are we sitting or standing?
21:12Oh, what is this?
21:13We are standing today.
21:15I have a challenge for Ms. Grace and Nash so that they can really see things from each other's perspective.
21:20Because let's face it, they have major communication issues.
21:24It's not going to help improve their financial situation, but I hope it helps their relationship.
21:28The challenge that I'm doing with you all today is called the Wheel of Communication.
21:33Because y'all know y'all have that communication issue, right?
21:35Mm-hmm.
21:36A little bit.
21:37Yeah, a lot of it.
21:39Let's tell the truth.
21:40So today we're going to do a little role reversal.
21:43Ms. Grace, you'll be calling the shots.
21:45Oh.
21:45And Nash, you will be decorating cupcakes.
21:48Oh.
21:49But you have to follow Ms. Grace's instructions.
21:52Okay.
21:53Okay.
21:53I'll do my best.
21:54You have 15 minutes.
21:56And you will be blindfolded.
21:58What?
22:00I have no idea what's going on, but I'm excited.
22:03He's going to be game to do something, especially if he has an opportunity to win.
22:07Exactly.
22:07It's all about the challenge.
22:09It's all about the challenge with us.
22:11Woo-hoo!
22:12Ms. Grace, this is what the cupcakes have to look like.
22:15Okay.
22:15Well, I'm going to have to duplicate something, I'm assuming.
22:17Yes.
22:18Yes, sir.
22:19And I have to listen to Ms. Grace every word to try to do this challenge.
22:24He has to listen to Ms. Grace.
22:26Woo-hoo!
22:28This is going to be fun.
22:31Ready?
22:32Go.
22:32All right.
22:33Touch straight ahead.
22:34There's cupcake.
22:34What hand?
22:35Either hand.
22:36Either hand.
22:36Just a little bit over to the left.
22:39Okay.
22:40Go straight down.
22:41Touch a cupcake.
22:42A little bit over to the left.
22:43There's a big bucket.
22:45Open it up.
22:47Apparently, we have to color it, so you've got to go over to the left a little bit more,
22:53and you've got to get a color.
22:54But, okay.
22:55That's not it.
22:56Go over a little more.
22:58All right.
22:58Stop.
22:59That's it.
23:00Okay.
23:00How long will y'all speed up?
23:01You color the whole thing?
23:02Okay.
23:02Put the color in there.
23:03Where am I putting the color?
23:04Put the color in the bucket.
23:05The white bucket.
23:06Yeah.
23:07Right.
23:07Right.
23:07I can't touch you.
23:08Tell me.
23:09That's what I'm saying.
23:10Yo.
23:11Put your hand down.
23:11Hey, I want to win, okay?
23:12Put your hand down.
23:14She can't grab my hand and do anything.
23:17I can't do anything without her.
23:19Put it around your hand to make...
23:22You're not listening.
23:23You're putting it on your hand.
23:25Cuff the piping bag around your hand.
23:29Just the top of it.
23:30Right here.
23:30Yes.
23:31Now, take your other hand and push your hand down in the middle of it.
23:34My other hand?
23:35Your left hand pushed down in the middle.
23:38Time is running down.
23:39I start to get frustrated.
23:41Listen to me this time.
23:43I'm starting to shake, man.
23:44I see.
23:44I see.
23:45I know you don't.
23:45But you just got to calm down.
23:47Go back to the left.
23:48To the left?
23:49Go back to the left.
23:50To your right.
23:51Right.
23:52To your right.
23:52There you go.
23:54Right in the middle of the cupcake, gonna start.
23:56What am I doing in the middle?
23:58You're just a rosette with a star tip.
24:00Okay.
24:00Go around.
24:01Go around.
24:01Go around.
24:03Stop.
24:04Okay.
24:05Do another cupcake.
24:06This is right here?
24:06Yes.
24:07Now, stay in the middle of the cupcake.
24:09Yes.
24:09In my mind, I know I'm not winning.
24:11So then I start taking it out on her.
24:13Go straight up with your left hand.
24:16We're running out of time, okay?
24:16With your left hand, you got these dollar bills.
24:19Pick up one.
24:20Put it on the cupcake.
24:21Straight down.
24:21Straight down.
24:22More.
24:22Which way?
24:23Straight down.
24:2415.
24:26Down where?
24:27Okay.
24:27You dropped it on the floor.
24:29All right.
24:29It's over.
24:29Time's up.
24:30How did the challenge feel?
24:32That was not bad.
24:33Just small.
24:34That was not bad at all.
24:34It was frustrating, honestly, for me, because anything I do, I want to be successful in.
24:39I want to win.
24:40But I can't hold myself accountable, and I'm pointing the finger here.
24:44No.
24:45No?
24:45See, you don't even look at the positive of anything.
24:47Automatically, you're pointing the blame at her.
24:51Somebody got to be at fault for losing.
24:53See?
24:53See?
24:54Somebody got to be at fault for losing.
24:55You started off with a blame.
24:57Instead of, Ms. Grace, you know what?
24:58We did good.
24:59And you constantly yell at me.
25:01Yeah.
25:02Or tell me what I did wrong.
25:05How does it feel seeing your mom like this?
25:08It doesn't make me feel good.
25:10You know, nobody wants to see, you know, the person they love emotional.
25:13It's not necessarily that I'm angry, mad, or upset.
25:16It's just I'm passionate about what I'm saying.
25:18I can be a bit of a...
25:21Ass.
25:23I can be a bit much.
25:25Let's just say that.
25:27I want to backtrack.
25:28First of all, I want to say thank you.
25:31I tried my best.
25:32You tried your best.
25:33And bring me some love.
25:35Sorry for yelling at you.
25:38Communication is free.
25:39Miscommunication is very expensive.
25:42And again, that affects your bottom line.
25:43That is amazing.
25:44So the quicker you can get that together, the better off you'll be.
25:46That's amazing what you just said.
25:48I think the game resonated with Nash and Ms. Race.
25:51The way that they speak to each other is like a bad habit.
25:54But it can be broken.
25:55Especially for the health of their business.
25:57But more importantly, their relationship.
25:59All right, let's come up this mess.
26:01Then I'm going to leave y'all to it.
26:03Just having fun.
26:05Well, you already got it out. Go ahead.
26:07Hey.
26:07Take it like you're taking my money.
26:09Who is the financial advisor right here?
26:10The one who told you you were $250,000 in debt.
26:13Well, I will hit you with this log.
26:14Are you leaving yet?
26:16Because you're getting on my nerves.
26:29Hello.
26:30How are y'all?
26:31Fine.
26:32How are you?
26:33Good.
26:35Pleasure.
26:36Hey, Nash.
26:37Doing well.
26:38How are you?
26:38I am good.
26:39I'm good.
26:40Well, thank y'all for meeting me out today.
26:42Yeah.
26:43Thank you for inviting us.
26:44Yeah.
26:44I thought it'd be fun to get out of the bakery.
26:47Yes.
26:47Just to switch it up a little bit.
26:49I have this challenge, this game that I want to play with you all today.
26:52And it's called the Bakery Balance Tower.
26:55And it represents your business structure.
26:57Black represents your contributions, Nash.
27:00And red, Ms. Grace, are your contributions.
27:02So, Nash, you want to leave and pursue your dreams.
27:04And Ms. Grace, we just want to make sure that you're able to operate the business on your own, right?
27:09Nash's support has been crucial for Ms. Grace and the bakery for the past three years.
27:13He is the financial foundation of this business.
27:16He is the safety net.
27:17So, she really needs to learn to stand on her own two feet and how to fill those gaps when
27:22he leaves.
27:23Nash, you will not be playing this game.
27:25Okay.
27:25And Ms. Grace, you're going to spin the wheel.
27:27Okay.
27:28And whatever color it lands on, you will move that block.
27:31Then we'll just keep going and we'll see how the game goes.
27:33Okay.
27:34All right.
27:34Good luck.
27:35All right.
27:36Spin.
27:38Of course, it would stop on red.
27:45Okay.
27:45Let's see.
27:46What's written on there?
27:48Oh.
27:49Something on it.
27:50Decorating.
27:51And you were good at it.
27:52You're great at it.
27:53I've seen your work.
27:54Next spin.
27:55Black.
27:56Got this, dude.
27:58Ooh, yeah.
27:59Ooh, cash.
28:00Cash.
28:01Nash contributes a significant amount of cash to the business.
28:04Oh, yeah.
28:04And that's something that we really need to work on.
28:06Because the whole point of having a business is for it to be self-sustaining.
28:09Otherwise, it's an expensive hobby that you're sponsoring.
28:12Yeah.
28:13Hey, what you got?
28:14Leo sacked these the wrong way.
28:16Seed money.
28:17So, basically, more cash.
28:18Yeah.
28:18He's contributed a lot of startup money for this business to even exist.
28:23The red represents her.
28:25The black represents me.
28:26You can see the financial support for the bakery.
28:28No.
28:29No.
28:30That's not fair.
28:31Well, I mean, there's been more than one loan, though.
28:32Right?
28:33There's been a couple.
28:34Whatever.
28:34Y'all rigging the game.
28:36Oh.
28:36It's true.
28:37But I don't want things thrown in my face.
28:42Yo, you already got it out.
28:43Go ahead.
28:44Hey.
28:45Take it like you take my money.
28:48Go.
28:48Let's go.
28:49Your support is failing.
28:50Definitely can't do that.
28:52Do you wish Nash could help you right now?
28:55No.
28:56I want to do it on my own.
28:57And I'm going to have to do it on my own when you leave.
28:59Exactly.
29:03Front desk.
29:04Kiosk.
29:06Oh, please.
29:07Let me get one.
29:08Please, please.
29:09We still need the data.
29:11Because at the end of the day, we don't know if that's really going to make you money or not.
29:14So if you do a cost-benefit analysis and you see that it makes sense, would I be able to
29:19get one?
29:20No, because we can't afford it.
29:21So let's just wait.
29:23We can talk about it.
29:24Let's just wait.
29:24At least at that point it's on the table.
29:26And see what happens down the line.
29:27Who is the financial advisor right here?
29:29The one who told you you were $250,000 in debt.
29:32Oh, you ain't got to bring up old stuff.
29:34Are you leaving yet?
29:35Because you're getting on my nerves.
29:38As you can see, the black is the foundation.
29:42The black is holding us together.
29:45And that's what you got to realize.
29:47Oh, we hit you with this log.
29:49Almost all the blacks were at the bottom, representing a structure, a foundation.
29:55Safety net.
29:56This is a big one.
29:57You are the financial safety net.
29:58And if you tear down the foundation, you have no building.
30:03With your financial safety net, there's no real urgency to reduce the cost and do the
30:08bookkeeping and make those really hard decisions.
30:10So I get it.
30:11You don't want to see your mom struggle, right?
30:13You don't want to see her suffer.
30:14But she has to feel the urgency.
30:18I understand now.
30:19I do.
30:20He's a blanket for me.
30:21He keeps me safe.
30:23And I want to do it on my own.
30:26All right.
30:26It's coming down now.
30:27I know it is.
30:29Just go for it.
30:32Well, high five.
30:33You did much better.
30:35You did a lot better than what I thought.
30:37You were down towards the end with nothing.
30:39But I get it.
30:41I have relied on you for everything.
30:44But I cannot rely on you anymore for financial support.
30:48And I'm okay with that.
30:49Because I know I have to make some changes in order for this bakery to survive.
30:55I don't give her money to let her learn these lessons that will be beneficial for us, for
31:01her, and the bakery moving forward.
31:03And I've got to be my own foundation.
31:05It's no doubt in my mind she's going to get better.
31:09And if it's anything worse than this, then we're done.
31:13I don't see you having a big problem with anybody else.
31:16You have lost something with me.
31:18You need to listen.
31:19As a mom, as your partner, man, I'm not crying today.
31:28Do it for the family, family, family, family.
31:34Hello, family.
31:36Hi.
31:37Yeah, how are you doing?
31:38Good to see you.
31:39Oh, you look so pretty.
31:40How are you?
31:41You going to get up and hug your mama?
31:42Good to see you.
31:43Hug your mom.
31:44You're an old man.
31:45The past few days have been like a roller coaster for us.
31:49How are you feeling?
31:50I'm feeling amazing.
31:52Like, amazing.
31:53He and I, I feel like you and I are such a better place.
31:57Aw, I love this.
31:57And Miss Grace seems to be really embracing
31:59what she's learning from Leah.
32:01But I know I could still be doing better with how I communicate.
32:05So I've called a family meeting so we can talk through everything.
32:08We spoke about the challenge.
32:11Yeah.
32:12And, you know, that was, you know, eye-opener for me.
32:16I speak about being this great leader all the time
32:19and having this great communication,
32:20but I need to be a better listener
32:22because I don't care how good you can talk and teach
32:25and do, you know, do all that stuff.
32:27You need to listen.
32:28And you're a good communicator except with me.
32:31Our dynamic is the problem.
32:33I don't see you having a big problem with anybody else.
32:37You're a good man.
32:38Yes.
32:39You're an amazing man.
32:40But you have lost something somewhere with me.
32:43And it's just different, though, because, again, I grew up with tough love.
32:46You grew up giving me tough love.
32:48That's all I know.
32:49That's all I endure.
32:50That's what I give back.
32:51And now it's like a whole 180 trying to switch up.
32:55But habits aren't broken quickly.
32:57We just talked about that.
32:58It's gonna take some time.
32:59But I will get better.
33:01You just don't know, as a mom, as your partner, man, I'm not crying today either.
33:06That makes me feel so good that you acknowledge your flaw and that you're willing to grow.
33:15Now let's just work on the communication.
33:17What is your biggest fear?
33:18Oh, that's a good question.
33:19Is that failure?
33:20That's a good question.
33:20Yeah.
33:20Because you talk about failure quite often.
33:22Is that your biggest fear?
33:23Yeah, the biggest fear in life for me is definitely failure.
33:26I'm so hard on you.
33:27I'm so hard on myself because I don't want to lose.
33:30But then this whole finance thing, you know, our finances, yeah, they're in the pot because
33:36of me.
33:38And this is where I am going to do my best to do better.
33:43Because now I don't have that safety blanket, that safety net with you anymore.
33:47You can't help me.
33:48Not even if you ask me, I'm gonna take it.
33:51I don't want to fail you because you've done so much for me.
33:55My biggest fear is losing you.
33:58Yeah.
33:58But I feel confident that you'll be okay because, again, Miss Leah has really put out some ground rules.
34:04And I think if you really stick to those and you really try your best, that will give me some
34:09peace.
34:09I am going to be a better business owner.
34:14I'm going to learn as much as I can from Miss Leah.
34:17I'm going to take in everything I can.
34:19I'm going to get a bookkeeper.
34:21I'm going to get a kiosk.
34:23Oh, the kiosk.
34:25Who said that out loud?
34:25Who said that out loud?
34:26Who said that out loud?
34:26But again, we have to let the numbers speak for themselves.
34:30If you do your research and it makes sense, then we have to figure out, okay, how do we get
34:34there financially?
34:36Because right now, you keep talking about this and it doesn't make any sense.
34:39But look at the growth so far.
34:41Because at first it was, no, we're not doing it.
34:42We don't need it.
34:43And now?
34:43Yeah.
34:44Well, if you do your homework and you show me that you're willing to try and get us in a
34:49better place, then I'm willing to try to help you.
34:51But the one thing is, again, the spending.
34:53If I'm not there, who's to manage you now?
34:56Who's to try to talk to you?
34:58Me.
34:59I have homework, but I can't even say the word budget.
35:04But we're going to do that.
35:06I have to get that damn printer working and I'm going to do it because I'm not going to fail.
35:11It's not going to happen.
35:12She's going to do it.
35:13We have somewhat of a grace period knowing that I'm not leaving tomorrow, but I am in transition.
35:19But I just worry about you.
35:21No, don't worry about you.
35:22I really do.
35:22People that believe in God don't worry.
35:24And on top of that, you're not the only one that's a leader.
35:27Yeah.
35:27You had to learn to be a leader from somewhere.
35:29We are not winning at the bakery with the finances because I am losing this battle currently.
35:37But that does not mean I'm going to lose.
35:40Miss Grace could never be a failure in my eyes.
35:42We're going to ride this till the wheels fall off and we're going to keep moving.
35:46But if ever this business is done, we're going to know that we still have achieved more than the average
35:51person.
35:52And we did it our way ourselves.
35:56Amen.
35:58But I'm proud of you.
35:59I'm proud of you.
36:00You know, I love you.
36:02Oh, I just got chills.
36:03Even with me getting ready to leave and that's a concern of mine to take this information and let's just
36:08go to another level.
36:09And we are.
36:10And we are going to.
36:12Bottom line.
36:15Have you made any progress with the credit cards?
36:17Have you cut any up?
36:18I've been so busy.
36:19And I'm not using it as an excuse, but I have been so busy.
36:21This sounds like an excuse.
36:23I guess old habits die hard.
36:30I'ma get the last laugh.
36:32I've been on the fast track.
36:33Came vulnerable.
36:35That's the only way to go.
36:36We only getting better, but just keep it on the low.
36:42Hello.
36:43Hello, Miss Grace.
36:44Good to see you again.
36:46One of the things that I really love about Miss Grace and Nash is that they are some of the
36:52best that I've ever seen at receiving feedback.
36:54So I'm excited to see what progress they've made.
36:58Catch me up.
36:59I think we've grown big since meeting you.
37:02I feel so much better.
37:04You just feel lighter?
37:05Yes, you just took the words out of my mind.
37:07I feel lighter.
37:08Our dynamic had a lot to do with the fact that I was not listening to him.
37:13And listening to him is now something that I have to do.
37:17Right.
37:17Because he literally is an investor.
37:19Mm-hmm.
37:20And the biggest thing for me is it is gonna be easier to listen to me if I have a
37:25better tone, if I'm not so aggressive, if I can listen more.
37:29She's really trying to implement the strategy that you provided to her, and she's doing a great job thus far.
37:35You know, the bookkeeper, I haven't found one yet, but I have not bought anything that I didn't need to
37:42buy, have I?
37:43And I can agree with that.
37:44Okay.
37:45She has been doing better with the spending.
37:47See?
37:47Good job.
37:48I have a truth.
37:48Shame the devil.
37:49I know we discussed prices.
37:51Are you still thinking about increasing your prices?
37:53We are gonna go up on our prices.
37:54And the pricing should always be based on the market.
37:57Correct.
37:57What the market value is.
37:58And right now, y'all are definitely under market value.
38:00Have you made any progress with the credit cards?
38:03Have you cut any up?
38:05No.
38:06I've been so busy.
38:07And I'm not using it as an excuse, but I have been super.
38:09It sounds like an excuse.
38:10I just need to sit down, figure out the lowest one, pay that off.
38:14So I'm going to do that within the next week.
38:16Okay.
38:17We were talking about the printer, the infamous printer.
38:21I have someone who is willing to help me next week.
38:24Awesome.
38:25Okay, great.
38:25And I am going to learn it.
38:27But if that deadline has not been met, we have compromised to sell the printer.
38:31I'm happy to hear that.
38:32We've made progress.
38:33I see.
38:33Y'all made a lot of progress.
38:35We've made progress.
38:35However, I still want that kiosk.
38:38Okay, let's talk about the kiosk.
38:39One of you all mentioned it's about $10,000.
38:42I think so.
38:42Where did you get $10,000 from?
38:44I don't know.
38:44I just pulled it out of the air.
38:45Okay.
38:47It's a little tab.
38:48Yeah.
38:48And there are little stands that you can put on the counter or if you want a bigger stand
38:51to put over in the corner.
38:52But still, it'll be about $1,500 max.
38:55It increases your revenue between 15 to 35%.
38:59What?
38:59It's easier to upsell on the kiosks.
39:02It's easier to upsell on the kiosks.
39:02You can track your inventory better, see which products are selling, which ones aren't, and
39:07then adjust your business model.
39:09I definitely think that Ms. Grace is onto something.
39:12You'll get your return on investment in no time.
39:15So let's just keep going and maybe we'll get there.
39:18You're not listening.
39:19Okay, what if we compromise?
39:20What if you're able to pay off three credit cards, then she can get the kiosk?
39:26At least.
39:27Three credit cards that are the least balanced.
39:29Mm-hmm.
39:30Let's start looking at kiosks.
39:31If you've done your part, then we can get a kiosk.
39:34Okay.
39:35See, I'm the referee today.
39:37I like it.
39:38I guess old habits die hard, and I still have work to do when it comes to communicating
39:43with Ms. Grace.
39:44I think we've actually grown a lot, and I just don't feel it's going to go any different
39:49but up.
39:51And we both are going to do our best to stick to that.
39:54We're going to hold each other accountable.
39:56We're going to push each other in a positive way.
39:58I'm dunking that .
40:04Nash, how do you feel now about walking away from the bakery in the next eight months?
40:10I'm not 100% okay if I'm being honest, but I feel better knowing that we had your help.
40:15Mm-hmm.
40:16And I think she's going to do great, to be honest with you.
40:19I do too.
40:20Like everything is getting better.
40:21I don't think you're getting rid of me.
40:21Oh, I don't want to.
40:23I feel so blessed to have you come into my life, our lives, and give us this direction,
40:31and show us what we've been doing wrong.
40:33And I feel like $100,000.
40:37I feel like $250,000.
40:41Ms. Grace and Nash have had so many wins.
40:43They're communicating better.
40:45They're in the market for a bookkeeper.
40:47They're increasing their prices to raise revenue.
40:49Ms. Grace has gotten her spending under control.
40:52And Nash feels more comfortable leaving the bakery to pursue his own dreams.
40:55Oh, my goodness.
40:56I don't know what I would do without you.
40:59Running a business with family can be messy, mostly because it's hard to treat each other
41:03like professionals when you're still fighting at the dinner table.
41:05It's very tricky to find balance, but if you can, it can be incredibly rewarding.
41:11Bye.
41:12Bye.
41:25Bye.
41:25Bye.
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