How to Build Business Credit 101 | Jan Live Challenge
guys [Music] hey hey hey oh wait we ain't started yet we started all right hey you guys hey hey hey hi everybody day two how are y'all feeling let me get this lighting right because we look a little ratchet right now you look a little ratchet right now i look dark i want to make sure y'all see me okay okay okay now that's too light two lines how we feel over here oh that's cute it's a little glare in the back but i don't think it's too bad is it this like making a gun the sun's going down so that glare should leave in the back of me shortly but i want to make sure y'all at least see me hey everybody all right day two how y'all feeling have y'all been liking the challenge it's my turn now i'm nervous y'all these speakers are fire okay these speakers are lit and i gotta go up after them i'm nervous but let's get started because i have a lot of information to get through in a short amount of time because we still have one more speaker today was so jam-packed um we have a lot of people so we still have one more speaker so i can't run into her time you gotta act apollo i can't run into her time so let me um get started right so i got a lot of information y'all got a lot of notes and i'm going to try my best to follow my notes but i'm going to take my time if you've been in my webinars you know usually i'll be like come here sit down be quiet and i just teach and don't even let nobody ask me questions to the end but i'm going to take my time and really try to get through this for you guys and i still got two days i still got tomorrow we're gonna talk business credit stuff tomorrow so whatever i don't cover today i'll cover it tomorrow okay it's so funny i saw brittany live and she was like i got 30 minutes dynasty can i go over i'm like girl you're the only speaker today speakers actually listened to me yesterday speakers came in and did what they wanted to do i said 30 minutes but they could talk for however long i'm like oh my god y'all actually listen to me so i'm probably gonna be about 30 minutes to an hour all right pen and paper no distractions i know i just messed up that word whatever let's get started kkk well not hashtag but just type ready if you're ready so first things first oh dang right on the top of my sheet i got it highlighted let's start with business credit 101 all right let's get into why i even merged this year kind of ended last year but it's really a thing this year why i even merged into wanting to teach and provide business credit resources for my students if you did not know i've been a business coach for five years i'm an online business coach and social media strategist i've helped thousands of women start their online businesses and grow their company using social media and recently i started working with guys as well so hey fellas that's in the group um i love it i work with everybody and so what we keep running into is this i can make a bomb marketing plan i can help you start your business from a to z right i could do all these things but what i kept running into is like this brick wall of people not having money like oh i want to do a lunch i want to make ten thousand dollars in my first month but you don't have 10 000 of funds like worth of inventory for stuff to buy um you want to work with certain influencers or run facebook ads like chris was talking about today you don't have the budget for that and i just kept running into these brick walls like working with some amazing entrepreneurs amazing people um people that had big goals big dreams they want to do so much and i put together these bomb marketing plans for them and we just don't have the money to fully execute and that's why i think it's so important for us just how i was talking about yesterday learning how to leverage other monies learning how to be more smarter investing in our assets and building business credit right so i started my business credit journey i wanted to start building about three years ago and this is part two of why i begin this um i couldn't find nobody to help me like i've offered to pay people i remember i was at this event this lady pulling out all her business credit cards girl i got this one this one i'm like oh set me up i'll pay you how much i'm texting her calling her every day like literally running this lady down ghosting me um for whatever reason she could have been busy you know doing other things but she wasn't able to help me so okay that was one then um i'm a student first i tell you guys stay a student okay i'm always a student so i'm buying books i'm buying courses i'm buying this just nobody programs what's helping me and this is why and it's gonna lead me into my first point we gonna get real here okay um we live in uh y'all know social media we live in a copy and paste culture imma just say it a lot of information is just copied and pasted and it's no real teachings and there's no real training and people are just giving you blue like just they giving you just stuff that don't matter and i'm sorry y'all this one little string of hair is bothering me okay they give y'all stuff that don't matter stuff that don't help you it's just stupid if i can be blunt so i'm buying these business credit courses and books and i want to go get like three i got three books right now in my house three of the books but i don't want to like you know like be bad mouthing anybody so it's gonna of course show the author so i'm not going to go get the books but what i kept seeing was a lot of copy and paste it's like y'all i swear to god i swear to god and maybe i'll show this in the vip because you know we're going to be a little closer i have these two books they are the same and i don't know who to reach out to to say hey girl you got copyright infringement on her hey girl you copied her i don't know who copied you who i bought two books on amazon two dif two different books two different authors two different completely brands word by word pace by pace the books are the same the books are the same i'm like this is ridiculous and i hate this because as an author myself i write in my own words who would copy and paste somebody else words like it's ridiculous so that's what i kept running into for years and so i had to take the time and figure this out myself and build this up myself and so a lot of things that y'all are seeing about business credit online is just copied and based people are just sharing what they hear and they're just copying and pasting it to you and we all know what it is you know get your llc get your ideas this year boom you got business credit this is the problem and i'm about to go through those things because guarantee those things are important i'm gonna tell you why they're important and go through this copy and paste information that is just googleable like okay that's great you do need to know it but this is the issue they tell you to do these things and then they don't even tell you where to go get the money all right that's not teaching you business credit if i buy a business credit course or i buy a business credit book and all you told me was get my business name get my address you're just you're a business consultant not business credit all you taught me is to set up my business you ain't teach me how to get business credit that's all you taught me so um that's why i got into this that's why i want to do this that's my little spiel that's why i put at the top of the page get that off my chest because yeah but i'm not going to act like those things are important because they really are they are a huge factor they really really are they're a huge factor okay but it's not that's not how you build business credit so please just stop copying and pasting the get a llc and boom you build business credit because no no it is not that's not how you do it but let's go through the seven steps all right of how you build it now this as well not just the copy and paste people but the business owners too all right i'm i'ma get with everybody today when we go through these seven steps i don't don't don't be a know-it-all as i've been saying from the start of this challenge always be a student always be ready to learn usually when we go through these things um i just hey girl get your llc get your i e i in the business i was like oh i got that i got that i know i know i got it okay hold on take a breath you know like we know you got it but 99 999 percent of the time you guys it's not right it's not right i keep running into issues where people are signing up to work one-on-one with my business credit consulting company and they're getting denied because their business is not set up right that's very accurate if your stuff is not in order your papers is not in order your business is not set up right and you are not 100 separate 100 separate from your personal you gonna get denied that's how you should say that that's all we got exactly they don't listen to the rest of it because you'll be like oh are you ready yeah yeah i got it don't be a know-it-all i literally just talked to a client today wanted to sign up to work one-on-one with business credit and i'm like okay you know you filed your llc your ein you got your business address yeah i got my business address um but i still got denied i'm like okay what's your business address she gave me a p.o box if you have a p.o box lenders will deny you that is not a business address lenders will deny you that will cause a red flag on your application so that can be your first thing to write down a po box is not a business address a po box is not a business address a po box is not a business address it is to receive and ship mail okay so she was giving me that know-it-all spirit trying to rush me through act like she had everything and that's why you got denied so um let's all listen you may have heard these things before whatever but i can guarantee you 99.9 of the time if i tell you a lender to go apply to right now you're probably going to get denied or everything is not the same across the board so if they see one thing on your website and then they see another thing on your duns and brad street or you don't even have a duns and brad street we gonna get into all of that you gonna be denied okay so let's get into it seven steps to become fundable that's what we love to call it in our company what is um how do you become fundable how do you get funds right so you want to make sure first thing first we can't do nothing we can't move we can't groove without getting you hey tiffany i'm gonna get into that i'm gonna go over the type of addresses to have um we can't move we can't groove without making sure you're set up properly so first thing is your name your business name okay um you want to register your business name with your state and you want ein with the irs irs.gov um get your ein for free and get a llc unless this is i'm talking about solopreneurs which is usually what i work with single member llc's if you're doing a corporation or something else you have business partners then you register as that whatever you're registering your entity as make sure you're registered correctly now before you jump and register though we need to make sure all this stuff aligns because whatever you have as your state registration that needs to match everything else so number two is a business bank account the address and i'm about to get an address that's number three the business address on your business bank account needs to match the business address that's on your state record on your llc why i put these as one and two is because the llc in the business bank account is going to set your start date as far as creditors know a big factor of being approved for business credit is how long you've been in business and not just being approved you can be approved by how much money you get they're not gonna give a new business as much money as somebody who's been in business five six seven eight nine ten years so even if you have not launched yet but you're very clear on what you want to do and you're here to start building business credit you can start building business credit before you officially launch if you have all this to care of you can register your business open your bank account that is going to be your start date as far as the government know okay and as far as the lenders know you could have been trapping out the bando for three four five years but as far as the government know and lenders know that's going to be your start date that llc and when you open that business bank account can y'all hear and see me good or is it freezing i'm on my laptop tonight let me know all right now opening up a business bank account i don't know if anybody has questions about that i use chase for banking there is a lot of um online banking just for entrepreneur like blue vine novo um it's a video on my instagram i list a bunch of business bank accounts and i made a tweet about it too bank of america a lot of people say navy federal business banking is really good i think i'm about to check that out um american express just opened up their business checking will not just open up but they are like doing a promo for their business check-in definitely want to build a relationship with american express so i think i'm about to open up a new business checking account with american express and with navy federal that too have multiple bank accounts i mean we're getting all into financial advice and disclaimer i am not a financial advisor i've just been an entrepreneur for a decade now and from my mistakes i've learned a few things but have a banking account just for payroll like just to pay your employees have an account just for taxes just for marketing right just for investments just for um business expenses so you want to have different accounts just so you can be organized all right most people are saying it's good so if it's freezing then it must be your wi-fi just refresh the page okay so that's the business bank account situation you do have to have your business register before you go open up a business bank account you have to show your ein and llc they call it articles of organization that's what that is if you want to write that down okay number three is getting into the addresses now address is really what screw people up like the address is always getting people denied i keep saying it i keep seeing it even myself one time but i talked my way out of that thing okay i had to finesse but anyways my old building i was moving if anybody knows i moved from florida to texas and i was getting some funding and because i was moving i haven't changed the address yet and she was like um the address you have somebody else we looked it up and this how i'm telling y'all i know what i know and i'm not just copying and pasting because i went through it myself and i've been through it with clients i'm on the phone with these lenders and she's like some boutique came up your business did not come up so is this your address because if it's not we cannot give you these funds and yeah i had to finesse it so i had to explain my situation let her know i was changing my address um but it worked in my favor because the building was upstairs and downstairs and she was like okay so i can see how y'all may have the same address but it's upstairs and downstairs and i told her i was going to change it really really soon as soon as i got settled but you need an address because after that is a prime example before they release that money to you honey they're checking so this um we're not just saying this for our health like when we say these things is real so p.o boxes are a no-go
because when they're checking your listing and we're gonna get into online listing the post office building is gonna come up not your business they don't like that okay so what you need a lot of us work from home a lot of us are online myself included i just got an office and i had an office in tampa but for the past two years i haven't had an office so with coping and everything i just been working from home what you need if you work from home is a virtual address that's literally what it's called it is called a virtual address okay places that you can get virtual addresses from ipostal anytime mailbox and also what i really enjoy getting virtual addresses from because i think it's smarter i really just i like the features they have um that's regis like co-working spaces so i don't know if you know about co-working spaces co-working spaces are like big buildings and entrepreneurs and everybody and other business owner even some small businesses um they rent out a space to operate from this co-working space and some people don't go there every day they may have a meeting in their conference room once a month once a week some people don't go there at all they just need the address that's something you can do you rent a physical address basically you can receive mail there you can meet clients there if you need to go there for a day to shoot content for your boutique or if you're a coach use the resources some of them actually come with a receptionist so going into number four a business phone number so i like co-working spaces honestly because i feel like you get you can um other benefits other options because you can get like a receptionist you actually do get a mailbox like a p.o box so you can get mail sent there so nothing comes to your house you don't have to put your home address nowhere you can meet in conference room sometimes when you just need to get out the house you need to go study something like this challenge oh growing business not small business sorry all right trees gang i'm sorry growing businesses what if you have a home address for multiple businesses they do not like home address it's going to register as a residential and you're going to be denied so you need to get a virtual address i really like um co-working spaces anika said what if you have the same building example you're in a booth yes that's kind of like co-working spaces so it's one building and then like it'll say suite b suite a number this number that but when these lenders go look you up it's the actual business building okay and then you need to have that address on everything your website your facebook page um your bank account your llc everything have that address everywhere so everything aligns like think about it y'all this is a big difference and brittany talked about this today between business credit and personal with business they give you a lot more money so they're taking a bigger risk they're only going to give this money to credible business owners they're not giving it to side hustle susie they're not okay side hustle suzy not gonna get this money you could go get like a one thousand two thousand five thousand dollar credit card cool business credit card starting at 50 grand and up the lowest i've seen is two twenty thousand dollars fifty thousand dollars and up they're giving you way more money so they gotta make sure you're credible so personally um and then two regis i told y'all regis opted it's a way more in my business credit class i can't think of every name correctly off the top of my head right now but you don't have to use those big companies call around locally literally go on google wear them on dallas type in co-working spaces near me type in co-working spaces in new york co-working spaces in atlanta co-working spaces and whatever and you can go to a local co-working space it don't got to be a big one like regis and you can say hey do you guys rent out virtual addresses do you have mailbox services all that good stuff okay so it's hard to know where to go okay awesome exactly exactly so yeah so if you win a salon of course they know that multiple people are in salons like they they know they understand that um you want a salon suite that's cool um if you're a personal trainer at the gym use the gym address just use a real physical address so when they look you up you're good to go you're good to go and do your self search that's going to be actually your homework tonight so i'm gonna wait and i'm gonna get there all right number five as i just said everything needs to be the same across the board you do need a professional website um some people that i work with they don't really do the online business anything i had a young i'm not well young woman um she did medical billing and coding she didn't have a website her business ran directly off word from mouth i said hey just get a landing page you know just get a landing page with your profile something on it that if somebody searches your business something pops up it has your business address your business phone number oh i skipped phone sorry i'ma go back but it has your business address your business phone number um a place they can reach you you look credible make sure you have a business facebook page facebook is like a pioneer can you establish a credit under a dba technically you can but just get a llc you can technically but then like if a lender go look you up by the state you're not going to come up to be registered with your state so it's just best to get the llc um i did skip phone because all i said was that you can get it with the business address but you don't you can get it separate too i had a point on that um but going back to the website have your website have your domain that's your website name have a facebook page and have a business email have a business email since day one i've been doing business coaching um webinars and classes for five years since day one i have told y'all who i use for business email if you have any of my free guides if you have my free book if you attended my free webinars if you don't know that just means you have not been paying attention um that pretty boutique gmail.com prettyboutique.yahoo.com get a business email whether you want to use g suites you want to use godaddy i use zoho mail my day ones i see athena in here i see tiana in here if y'all can type it for them i use zoho mail it is free they do have a pay plan but they have a free plan all of my businesses is in zoho mail therefore when you email me you always email at like my domain name support queendom dynasty.com i profit solution info outprofitsolutions.com contact queen of
dynasty.com not a gmail not a yahoo okay okay i always get my email first starting a business email first because everything needs to go to your email i don't get nothing before email email first and then after i get my email um you know do everything go to your address your phone number and then your ein llc bank account continue continue but i always get my email address first okay that's what i use for email what i wanted to say about phone is yes you can get a phone number from like those co-working space and virtual addresses spaces but you can also they literally have is called voip basically like virtual voice operations okay literally listen y'all the internet online is taking over companies literally cater to us they have stuff just for virtual addresses just for virtual um assistance virtual hr virtual everything and yes they have virtual phone companies she said don't dial my gmail like that nah by now everybody should be off gmail it is for your personal not for your business and then google offers a g suite so if anything just switch over to g suites and get the professional one but you know what now we know better we do better but yeah um everything is virtual now they literally have virtual phone companies for you one thing a lot of people use google voice it's 50 50. y'all i'ma keep it real some lenders don't mind it you won't get flagged for it other lenders they be like nah they don't like it and that too you have hundreds and hundreds of lenders so and then you have the case workers whoever work in your case depending on what you're applying for are you applying for a loan a lot of credit or credit card so i'm just speaking in general all right this is not for like one application some people can approve you with certain things not all the way to together and then you'll get that strict person that's like no so it's just better to have all your ducks in a row so that you're confident and you know when you apply for something you got your stuff together and you're gonna get approved so i was going back to google for voice some lenders are okay with it some people are cool with it as y'all know with google voice it will give you a phone number that will go to like your cell phone number and you know people don't have to have your real number i prefer to use one of these virtual assistants you have grasshopper freedom voice ring central i hope y'all writing it down these are some good ones in my business i use next tivia um i get a toll-free number with next tv and a local number so meaning like a 1 800 and then also a local number that i can use these numbers can be connected to your cell phone most of them have a app it will rank in your phone just like google voice but you don't have to worry about being flagged does the business phone have to be registered as a business line with your cell phone provider so that too some cell phone companies will not sell most of cell phone companies and people don't know this verizon t-mobile whatever sprint you can open a business account with them they will give you a business line of credit most of them don't report though we don't get into reporting next most of them don't report so you're not really building business credit with it but it's good to leverage so if you got employees you can like i know verizon usually give people like seven thousand to ten thousand line of credit so if you got employees you can get everybody like a phone a business phone an ipad and all the business lines will be with them so you can register your business line through cell phone providers so either voip providers vote voip they call it voip basically like virtual phone companies or you can do it through cell phone providers okay that's getting the right phone number and all of this can be attached to your cell phone i know you probably like i don't have time to have no phone answering it and sometimes just set up an automatic voicemail if you don't take calls just set it up everything go to voicemail and you can call them back navy federal is great to have a business account with and um i said grasshopper yup you spelled that right lisa nick stevia grasshopper ring central those are some freedom voice okay now listings very important step six listings this is everything that we're talking about that you need to do before this is where they're going to pull the information you know how y'all be snooping and creeping who y'all dating on their instagram and stuff stalking the linda's stalking you over here so 411 listing google yelp being facebook this is what they're looking for basically they stalking you they gonna google you and when they go look for you all the steps i just talked about you need to cross your t's and dot your eyes you need to have your stuff together all right so you want to make sure that you're on these sites you want to make sure that you are listed with 4-1-1 my company help um you guys do that you want to make sure that you're on google basically if i google your company name right now if i do it right now what's going to come up when you google yourself what comes up can they verify you can they find you the information that you submitted on your application so if you said i'm in business this is my address this is my phone number basically this is what is they're doing when you submit your application whatever information you put on the application they're going to online listings to make sure they match to make sure they connect they're going to go look you up so you want to make sure that information aligns and you want to make sure you're showing up online accurately if something is different like i said now that we know better we do better don't stress yourself you go change it you edit you edit the profiles go switch it out later but now that you know you know what you need to do and work towards right right all right next seven number seven so this was the seven step and i'm gonna go back through them again y'all number seven is the credit reports the business credit reports did y'all know if you had a business credit report put a one in the chat if you knew put a two if you did didn't know if you don't know put it wait what did i say put a one in the chat if you know for the two if you don't know i'll be confusing myself just like you have personal credit reports right credit karma what it shows you experian transunion equifax just as you have a personal credit score you have a business one one one two two one one so you should say let's not talk about it i'm not honey i gotta bring you a bucket one but i don't know how to find it or check it exactly that's what we're gonna talk about so some people may know they have it but y'all have y'all looked at it y'all know what it looked like y'all know what's on there because guess what else unlike with personal credit business lending they don't need your information to pull your report lenders do not need your information to pull your report it's a good or just a bad or good thing you know sometimes if you've been in business and let's say you're somebody on here that has built up their business credit the better your profile looks lenders go check reports randomly they don't need your permission to look at your report but let's say it's girl you're doing good like girl you're doing a good job you'll just start getting offers american express hey dynasty you want 50 000 today this company capital one hey we got this offer for you you want this line of credit hey you want this you want this so they don't need your permission to pull your report up they do not so a lot of us don't even know what's on our report some people don't even know they have a report and some people don't know what's on it all right so the companies the top three there's just like we um personal credit wears like a hundred different credit bureaus and people reporting and keeping a file for you but most of us only know our top three i'mma keep it simple and the same with business we just gonna discuss the top three number one is duns and bradstreet if somebody can type that for me type it for me dmb.com duns and bradstreet number two is experian type that for me number three is equifax these are your big three these are the three scores that you want to make sure it's up there the dnb duns and bradstreet experian equifax something that we offer our customers that's really really good is a credit reporting kind of like what credit karma is for personal there's something called nav for business so it's like a credit report and uh monitoring service where it's going to monitor and check all three so you log into nav and it shows you all three your full report but also what i love about nav it shows you your personal report too so you can be monitoring and updating and keeping track of your personal and your business in one space and we give our customers nav for 50 off and another bonus about nav and this is what we're about to get in next is tier one trade lines when you pay for nav it is a paid monitoring service um it's like 39.99 with taxes it come up to about forty dollars a month um through my business credit builder company we give it to you for half off so it's about twenty dollars in a month when you pay that they reported two dozen brad street to experian they report it as a trade line so if you don't have nothing on your business credit you never start building literally just monitoring your business credit and paying nav that's one trade line already okay that's one trade line already so if you've never seen your business credit reports and you've never seen your score you we need to pull that and that's something we work when i do one-on-one business credit consulting we go through your report with you we let you know what's need to be fixed like we're going to walk through it with you and explain it like what does this stuff mean thank you coffee thank you thank you thank you um also you need a duns number i forgot to say that first go to dmb.com go to
go back go to google does number look up type in your business name some of y'all if y'all have like a business bank account sometimes they create a duns number for you automatically so some of you may have a duns number and not know but you need a duns number this also can be asked on applications most of the credit bureaus are going to pull your duns report using your duns number so you may already have one and then you just need to create an account if you don't have one get one you don't have a duns number get one so that's your credit monitoring okay that's your credit monitoring you want your done score like 80 85 and up that's a good done score they call it a paydex score so what do you need to build this what do you need on your credit report this is where we're gonna get into vendors in tier one and tier two i'm gonna just start with so today was establishing the setup in tier one tomorrow cause i have a real good guess y'all he got a hundred thousand dollars on me and him had like a meeting and then next thing i knew he got a hundred thousand dollars in business credit in 10 days so tomorrow i'm gonna get into tier two tier three um financing and all that other stuff but today i'm just gonna focus on tier one because what time is it i bet i'm good so like i said something like nav could be a trade line what is a trade line a trade line is just like your personal report it's an account that you have open that you're paying and it reports to the credit bureaus so paying a nap every month is one of your trade lines now what people don't tell you they just say oh open a net 30 open account you need to be strategic about it how many accounts do you need to open my advice this is what i teach in my business class um if you're in my business credit builder and you work one-on-one with us you cannot go to the next step until you solidify your tier one and you have this you need five accounts i'm gonna just say five sometimes i say four to five sometimes i say five to six let's keep it five so we already got nav if you you know sign up credit monitoring so you need four more four more out of those four you will do net accounts what is net accounts net accounts also known as pay by invoice is businesses that allow business owners to get whatever it is they're getting obtain a product or service and pay it off in 30 days and you build a relationship with them and when you pay it off within that 30 days and you keep doing this for 30 days you keep doing this for 30 every 30 days you keep doing this for every 30 days while i'm saying this is because of this a lot of people like i said take you know just don't invest in themselves don't really learn don't really work with a business credit specialist so they don't really know they set up all this stuff they think they know it all and because you got one vendor account and you ordered one time and paid it off you come to somebody like me and want to be mad at me and you're like oh nothing ain't reporting nothing's going to report business credit is about consistency they want to see you paying on something every month this is not a one-time thing this is not you order one time and you're done no you want to every 30 days order pay order pay order pay order put pay i don't got my book over here with me last week on my ig story i showed y'all my little book that i i keep record this was ordered on this day paid on this they ordered on this day paid on this day i do it every month i sit down every month order from all my vendors and then like another two weeks i pay them all off but i keep track of that that is how you build a business credit score fast give yourself three months to do this you'll have a high payday score that is how you build it fast because unlike personal credit business credit does track your inquiries it does track utilization but it does not hurt you and it does not impact your scores as much business credit is very simple pay your bills pay your bills and just how it's very simple it can be very hard because if you miss a payment oh because it's literally paying your bills is like the weight of your score so if you miss a payment it's very hard to come back from that so don't start this if you ain't ready to keep up with it the orders need to be just to put it in retrospect for you about 100 order you need to do it every 30 days because they're net 30 accounts now let's get into this most people have net 30 accounts you can have other accounts meaning net 55 amazon has an option for a net 55 account what does that mean all that means is you have five days 55 days to pay it off so whatever the net is the net and then the date the number that's how many days you have to pay it off so if it's a net 30 account you better pay it in 30 days or it's going to report as a late payment and now you're digging yourself out of a hole so you have net 55 you have net 90s 90 days net 120s but most people that's just starting you're going to start with net 30s most people start with office supplies from quail uline granger you can get office supplies for those okay somebody can type those in the comments for me quail uline granger office supplies from those i'm in college i use fafsa but i have a small business as well is it okay yeah this okay so the whole point of this everything i'm talking about right now the whole point of this is because now you are entering a whole different world to where you're separate from your business so like how you just said all that shamaya none of that matters no more that's that's a shamaya business issue not business but that's a shamaya thing that is not what um what's your business name ishmael type your business name that is not a your business name thing like dynasty student loans don't got nothing to do with queen of dynasty that ain't queendom dynasty business problem it does not affect queendom dynasty at all that's a dynasty thing so this is the whole point of this the whole point of this is now that when you pull your business credit reports it's actually something they're reporting and you have a good score nobody got to ask about your personal business no more these lenders don't got to be all in your personal stuff you know if you got student loans you got a cable bill you you ain't paid five years ago you got a closed credit card they don't gotta know all that no more what is the healthy status and where where is your business what is that business credit score people get their personal pulled and dragged into it when they don't have their business together usually if you apply for something real quick they're going to look at dnb first our experian they're going to pull your business credit score but as most of us knew and saw when we did the ones and twos a lot of us ain't even seen our business credit report ourselves so usually they can't find it they can't find you online so that's when they ask for your personal but if you have all your business set up they don't look at your personal right so your student loans and fafsa and all that that's a shamia thing bougie things separate fast one got an undo that you are a complete separate entity really understand that separate that's like what this whole training of business credit was just about the business name the business address the business phone notice i'm telling this all separate from you your name don't matter what you say don't matter your phone number ain't mattering your personal facebook page with what separates that's the point of this that's our goal our goal is to remain separate from our companies so that we're not judged off our personal and is not tied into it and dragged into it does that make sense y'all let me know all right so like i said five account we got nav you can do three or two three two or four of those like shipping supplies if you have a t-shirt company gosh what is that one called i'm gonna send it in the email tonight i'm gonna send y'all a recap email with y'all homework it may be called shirtsy or something but like if you make shirts are apparel you can open up a net 30 account with them so building your business getting supplies for your business along with building business credit when when what one thing that i do i buy like from uline and quail so it's office supplies which i know one thing of office supplies is like cleaning supplies so for my house now i don't buy my cleaning surprise at the regular store at the grocery store and stuff i buy all my cleaning supplies with um uline quail my garbage bags disinfecting clorox my coffee now because you know office coffee anything i can get on there this is just period across the board anything i can get with my business credit accounts that's what i use anything i could get um yes honey try to redo it and message me your email i'll check and see if you're on the list anything i can get with my business credit accounts i use that i pay it i'll go spend 100 150 and you pay it off and even though i'm not in tier 1 anymore i still keep my tier 1 accounts active because a i figured out a way to actually buy stuff that i need um and it's just good reporting like longevity is a big thing with business credit they want to see longevity so yes i have business credit cards now i'm in tier two i have lines of credits now i still keep my tier one accounts a lot of people do that too like they move on and they abandon their tier one accounts now it's blank and now you don't stop the longevity in the payment history why do that you have to spend a minimum the rule of thumb is a hundred dollars with these accounts so the next type of account i want to tell y'all for tier one is um gas fuel accounts net accounts fuel accounts gas cards how do we get on the list i posted it geez louise where did i post it let me write it i'm gonna just put it right here because i can't remember where i posted it at i know it's in the group though so a lot of y'all was invited hey welcome but because you were invited you probably didn't get the original sign up form so go to the sign up form and that's how you get on the email list because the homework tonight is gonna be sent through the email i'm gonna upload some stuff in the um group too all right i just posted it i am going to upload it in the files but the full email you need to get the full email all right i just posted it can you apply for a business loan if your business set up correctly but you haven't done any net accounts or is it best to stick to grants all right i'm gonna dig more into that tomorrow but i'm gonna i'm gonna get to that at the end brianna hold your question i'ma get to that at the end the short answer is yes but it needs to be explained short answer is yes but it needs to be explained so gas cards so like i said five i'm giving you real strategy right now honey so you have your um nav you got one tray line two three office supplies and then you can do one or two gas cards so you can switch this up whichever way you want to what is gas cars a lot of fuel companies marathon um bp shells wax they will give companies you know because companies have company cars a lot of people want to get into the turo business um a lot of people are getting into the trucking business you can use these cars you open an account with them and you use these cars to buy your gas i have two cars so now i use these cars to buy my gas and then i pay it off oh my god tomorrow quentin got such a good strategy on this so i'm not gonna go deep because the way quentin do it beast be small but you use these cars to get fuel um if you get just a regular feed car that's fine but they do have like business credit cards those you get even more features so things like um maintenance repairs we all got repairs for our cars you need your brakes fixed your oil changes um roadside assistance just things that's auto auto automobile things related to automobile and um automotive and fuel and all that good stuff they will give you a business credit card our business credit account like a fleet account and that will report so if you get one or two gas cards i have two um two to three accounts with the net 30s and then you get your now you will have your five the names i told y'all is because those are tier one if you know of something else and i didn't mention it i probably didn't mention it because you need to get through tier one before applying to that um i'm trying to make sure you have the beginners and stuff that you'll actually get approved for real strategy okay all right now what where what time is it because we got desks in like right in an hour okay so what i want to get into more so tomorrow because this homework y'all need to finish today what i want to get into tomorrow is secure and beginner credit cards i want to get into line of credit i want to get into the loans um quentin got such a bomb strategy for gas cards airbnb with it um so make sure you're here for quentin tomorrow but that's no amazon is tier two i literally just said that if i didn't mention it it's because you don't need to apply for right now amazon will deny you but a way to get around it is well not to really get around it but if you want to kind of move up faster is open up a business amazon account you can do a business profile with amazon and i think they want you to make like five to six orders and then they'll offer you a pay by invoice but if your business is not set up correctly and you haven't done all this business setup and tier one stuff amazon will definitely deny you they have a business credit card and they have um a vendor account like net accounts and with the credit card i think it's from see i can never say that word synchrony bank synchrony bank mega cup you set up make sure you set up correctly or you will get denied okay so tomorrow i'm gonna more go so into the credit cards line of credit loans funding um all that good stuff um and today i hope y'all got this now what your homework is going to be i'm going to send you a worksheet it's a checklist it's called my funding checklist you're going to get a business credit checklist because i want you to check yourself tonight i am going to email it but yes i will upload it into files too because some people are having trouble getting their emails so i will email it and i will upload it into files i want you to check yourself when you go look up yourself if you're the lender what are you finding what arrows the people that said they do have their business credit report what's wrong on there how do dnb got you listed how do your state got you listed after you filed your llc have you ever went back and checked the state and make sure you're filed correctly so it's a check yourself moment tonight it's a check yourself moment you don't have to post this in a group or nothing it's gonna be a worksheet you can download it it's for you but it's definitely a check yourself moment if you do want to come back in a group and just share your findings what you found out what you've learned that's great that's great but i'm gonna upload it into the files and we're gonna have a check yourself moment i also i'm also going to give you guys i'm gonna put this in the file my free seven steps to starting the business credit guide so those seven steps i went over somebody just said what was the seven step to become fundable how do you become fundable to get money um the seven steps is your business name register your business bank account your address your business phone your business website email and domain online listings 411 yelp google facebook and your business credit monitoring dmb experian nav equifax you're going to get my free credit um ebook now it's not an ebook it's a guide with my ebook if you want to get into my credit class business credit class when you download the ebook you can get into my class for 50 off that offer is only in the book so i'm not telling you what it is if you read the book and you do want to get into my business credit class you can do that and also just for being a part of this challenge through my company who i partner with i did ask and got approved that everybody a part of this challenge when this challenge is done we will give you guys free business credit analysis so if you want to um you're thinking about working one-on-one um with me to build your business credit or if you just want to see can you get business credit right now we will do a free business credit analysis for you okay you can get a free business credit analysis so i will send that link if you want the business credit analysis type biz in the chat box and everybody that type biz i will send you the link i will upload the ebook to the files i will email it as well and your homework will be emailed and uploaded to the files did i remember everything oh do i want to talk about that tomorrow i'll talk about that tomorrow i'm gonna put a note i'll go over that tomorrow because that goes with the line of credit and funding and all that good stuff but yeah you guys these steps are very important like my main thing and even working one-on-one with people like with my business credit company is making sure you apply at the right time you don't jump the gun because jumping the gun and applying at the wrong time usually sets you six months back somebody asked about amazon if you apply for the amazon business credit card and you get denied you can't apply again for another six months so now you set six months back because you dropped the gun what if you would have booked the free um business credit analysis we could analyze your business profile told you what you needed to fix went and fixed it and then applied so you could wait a few days or a few weeks first if you jump the gun and you apply for these lenders and accounts at the wrong time you don't push yourself six months back so make sure you're doing it right as i said in the beginning don't get with the copy and paste culture give it somebody that really did it that really does it not just saying oh yeah girl i know how to do business credit copy and paste what they done seen all on facebook and instagram ask them can i can i see your dmb look them up on dmv are they on dnb can i see your business credit profile are they on experian business you can look up on experian business you can look people up on dnb that's what i said by um business lenders do not need your permission to pull your report when it now that is the con about with business your personal stuff is a little bit more protected when it comes to businesses this is public information that's also why you don't want your personal address and phone number on your business stuff because business is public information ain't no hiding you you can't hide you even got it together and you did it right or you don't so that's like when i work with people and i ask them hey girl you good or dynasty i won't you know the loans i was just posting we did a meal in a month of lending okay i want that 50 grand i want that 100 grand i want that 400 grand all right well let me look at your business oh yeah girl i got it all together then we do the credit analysis and you don't but that's okay because i can help you but i'm just saying like i said this whole challenge be open stay a student be learning and once you know better you do better so these are the things just overall what lenders really look at all right they're to check that business name that phone number that address are you listed online time and business is important that determines how much money you're going to get what industry is you in i did not say this very important very very important um when choosing your name be careful especially for us since we talked about credit and stuff i know some people in here do credit repair credit is considered a high risk business some people was asking about going to navy federal to get a business account if you credit navy federal will not open you up a business account in person with my own eyes i heard the phone conversation i saw somebody get denied because they was a credit repair and it's considered high risk some things that's kind of like sexually explicit um drugs y'all y'all know stuff y'all know stuff be careful about your industries like i said every lender is not the same some don't care but some do so even with making your name make it professional don't make it too much don't don't put those trigger warning words in it because industry can sometimes get you denied sometimes you set up right you don't did everything right but you're in the wrong industry and that can get you denied all right so be careful with that bank account ein business license financials i'm gonna go over that tomorrow all about financial report bank statements how you can use your business financing to get funding um you can use personal credit and financing britney talked a little bit about that today um so it's good some people forget about their personal credit and just like oh um exactly got a credit repair but set it up under management and consulting think exactly because it's high risk you know the scammers be out here everybody got to protect themselves um this the thing with your personal when you start building business credit don't forget your personal i always say it's a quote i love to say you know everybody want to be a bad you can't be a bad with bad credit that's just period don't forget your personal because you still got to live in your personal life so build up both and also having personal credit good personal credit oh you get business credit so much faster you can literally go in the bank today open a business account and the same day you open that business account you ain't even got to start the business yet you got a good business credit score and usually they determine that most people go by 680 and up 680 and up 680 690 700 and up they'll give you a business um credit card right on the spot you got a good relationship with that bank they'll give you a business loan they'll give you a line of credit so you can leverage your personal but for the people that want to completely you want to separate it period but you can leverage your personal play your strategy play the game i would go okay yep you can update all your info yourself and they're gonna of course look at your credit bureau report so that's all my notes guys i didn't have another sheet of paper i don't know where it went but that just had homework on it tomorrow i'm gonna go through part two where did that piece of paper go i probably flung it somewhere i don't know but they just had the homework on it and i told y'all what the homework is already so yeah your homework is gonna be like checking yourself so you're gonna get the funnel fun uh funding checklist all right go check yourself tonight and then you're going to get my um seven steps to starting your business credit ebook so if you forgot anything maybe you're not a good note taker you will have the god i keep saying ebook is a god through the excess of that god if you want to get in my business credit class you can get into it for 50 off when you get the ebook and then um if you want to work one-on-one with us and you need help if you can even build business credit and get funding we are doing a free business credit analysis so type what i say biz yeah comment biz and i will message you that all right so y'all in about an hour we got desk up that's about to show you how to get more money in your business all these things we talk about today use your business credit don't drive those facebook ads the strategy is despite to tell y'all you need money to gr
2022-03-23 15:06
