The Sugar Daddy Podcast
Ready to normalize talking about money? Then welcome to The Sugar Daddy Podcast. Every episode will get you one step closer to your financial goals. Whether that is learning how to invest, budget, save, retire early or talk about money with your partner, Jess & Brandon have you covered in a way that's easy to understand, and easy to implement. Tune in as they demystify the realm of dollars, so it all makes cents, while giving you a glimpse into their relationship with money and each other.
Brandon is an award-winning, licensed financial planner, and owner of Oak City Financial, with over a decade of experience and millions of dollars managed for his clients all over the United States.
New episodes published every Wednesday.
The Sugar Daddy Podcast
112: Broke, Divorced & a $1,200 Stimulus Check — to Multi‑Million Dollar Business
What would you do with a $1,200 stimulus check?
In 2020, Ellie was broke, newly divorced, and raising four kids out of her mom’s house, when she made one powerful decision — to invest her $1200 stimulus check into herself. Fast forward: she’s built a multi-million dollar business empire, helped 60,000+ women, and started a new life in Senegal, where she’s continuing her entrepreneurial journey as a cafe and co-working space owner and real estate investor.
In this episode, we dive into:
- How she stretched $1,200 into an LLC, website, and first product
- The moment her $15 course made $10K, then $1M
- Business credit vs personal credit — and what most people get wrong
- The power of sweat equity over paid ads
- Building a café & coworking space in Africa with zero experience
Ellie Diop shares the blueprint, the mindset, and the mistakes to avoid if you’re building a business from the bottom.
Notes from the show:
Join Ellie Diop's Ellievated Academy
Follow Ellie Talks Money on Instagram
Follow Ellie Talks Money on TikTok
Subscribe to Ellie Talks Money on YouTube
Head over to our YouTube channel to catch this episode in full video form.
Apply to be a guest on the show.
You can also email us at: thesugardaddypodcast@gmail.com
Connect with us on Instagram
We’re most active over at @thesugardaddypodcast
Chat with Brandon
Want to work together? Learn more about Brandon
Book a free 30-min call to see if it's a fit.
Show us some love, hit subscribe, leave a five star rating, and drop a quick review!
Money, relationships, and the mindset to master both. Hosted by financial advisor Brandon and his wife Jessica, The Sugar Daddy Podcast breaks down how to build wealth, unpack old money beliefs, and have real conversations about love and finances. Our mission? To help couples and individuals grow rich in every sense of the word: emotionally, relationally and financially.
So when that$1,200 came, I used a portion of it to upgrade my phone because through watching YouTube videos, I knew if I wanted to be a content creator, I needed to have at least a good phone. So some of it went to that. I also went to Ross and purchased things like, you know, these really cute backgrounds that you have right now, little flowers, you know, a shelf, just like something that would look nice if I'm recording videos. I also bought a Canvas subscription to be able to make my own content. And I formed my LLC with that$1,200. And the last thing is I bought some domains. So for my website, et cetera. And then the little bit that was left over, I kept it in case I wanted to run ads, which I've never run ads because I know nothing about it. So that's really how I divvied up that$1,200. And the rest of it went into just sweat equity.
SPEAKER_00:Sugar Teddy podcast, yo. Learn how to make them pockets grow. Five minutes for freedoms where we go. Smart investments, money flow.
SPEAKER_04:Hey, babe. What are we talking about today?
SPEAKER_01:Today we are talking about one of my favorite topics: women and money, and women who have made a huge pivot and have turned their life around. Because whatever your story is, wherever you are right now, if you feel stuck, if you feel like, man, you know, I'm 30, I'm 40, I should have, I could have, I, you know, whatever that is, your story is not over. And we have a very special guest today, Ellie from Ellie Talks Money. And we're gonna get into her pivot story because it is absolutely incredible and inspiring. And I'm so honored to have Ellie with us. Ellie, welcome to the Sugar Daddy Podcast.
SPEAKER_02:Yes. Thank you all so much. I'm so excited to be here. I absolutely love the name as well, the Sugar Daddy Podcast. Because why not? So I'm really excited to spend this time with you all.
SPEAKER_01:Yes. And just in case, Ellie, you didn't know, I'm the Sugar Daddy, just to be very clear. Yes, exactly.
unknown:I know.
SPEAKER_01:I wanted to make sure you knew. Let's get into this bio so that everybody knows why we are so excited to chat with you today. Ellie Chiop is a business and strategy coach and the founder and CEO of Ellie Talks Money and Elevated Academy. I see what you did there. That's cute. I see it. Ellie took her$1,200 stimulus check to start a business that she turned into a multi-million dollar company in under a year before turning 30 years old. She has served over 50,000 students and is committed to assisting women to build successful businesses so that they can live the life of their dreams. Ellie has built a community of over half a million people and has helped her students secure over$7 million in business funding. She has been recognized as one of the uh one of the 25 most influential new voices of money by NextAdvisor and is a top 100 most influential African American by the route. She has shared her businesses, success story, and expertise in several media outlets, including Fortune Magazine, Entrepreneur, Newsweek, Fox Business, Business Insider, Next Advisor, and Bloomberg, just to name a few. Girl, you are busy. I'm like, you know what?
SPEAKER_02:It's so funny when I do audio like that. I'm like, dang, I guess I have gotten a lot done. You know? And it's so funny because you don't always think like that. I know for me, I'm always hard on myself. Like, come on, Ellie, you can do more, you can do more. But it's really nice to sometimes sit and just take it and like, oh wait, I'm doing, I'm doing a pretty good job.
SPEAKER_01:Yes. And you know, it's so funny because we we always read the guest bio and so many people say exactly what you just said, like, oh my gosh, I guess I really have done this, right? Wow, I really have been working hard. But I think you guys are just so hardworking that you're always on to the next thing. So I want you to also, I'm gonna encourage you today to pause and celebrate everything you've built and your successes. And I know we're gonna get into it, but I mean, just applause to you. Thank you. That means so much. Oh, I'm so glad. Okay, we have to get into your first money memory, and then we will get into this community you've built, the business you've built, and how you're just crushing it at life.
SPEAKER_02:Oh my goodness. So my first money memory, okay, so this could even be like in childhood. Yeah. Okay, so uh my first money memory, and I think when I really understood what it meant to have money or not have money, I went to a private all-girls school from, you know, fourth grade all the way up to when I graduated. And I it was a predominantly white school. I was one of just a handful of, you know, little black girls. And I remember, you know, it was maybe in class at one point, we were all talking about what our parents did for work. And I was mostly listening because I knew that at the time my mom was a substitute teacher. And so I was listening to these parents, I mean, to these kids talking about their parents. And I remember one girl was like, Yeah, you know, my dad is a lawyer, and somehow it got to the topic of how much they make. She was like, Yeah, my dad makes$250 an hour, which I don't know, he doesn't think it's a lot, but it seems like a lot to me. And I remember in that moment, like pulling out my calculator and calculating like a 24-hour day times$250. And my mind was just blown. And I remember telling myself, like, if my mom made that kind of money, like she could pay for this without a problem, she could do this, she wouldn't be stressed. Like it really has sat with me all that time, all this time. And, you know, it made me realize there are levels to this life. You know, you can certainly earn one amount and, you know, struggle, or you can do whatever it takes to get to that next amount. And I think it was at that moment that I decided I'm gonna figure out how I can make$250 an hour or more at some point in my life, you know? Um, and thank God I found a way to do that.
SPEAKER_01:Oh my gosh. What a powerful story in like fourth grade to be, you know, calculating that or even to be having that conversation. Because I know our kids are seven and five, and we talk to them about money all the time, but they still don't have a concept, right? Yeah. So even for the other child to say, my dad makes$250 an hour and he doesn't think it's a lot, but I think it's a lot. Right. That's like what?
SPEAKER_04:That's also like also the fact that she knew how much her dad made in fourth grade and understood.
SPEAKER_01:Exactly. But if you're talking about money and you're always trying to level up, then you're hopefully, you know, we know that in the white communities and the Asian communities, like people are talking about money. Like this is what money. This is what you're doing at the country club and on the golf course and while playing tennis. So the kids are absorbing, you know, we think they're not listening, but they hear us.
SPEAKER_04:I mean, like growing up, I had an idea I didn't never knew it was like until I got older how much my mom was making, but I had an idea that we were doing fine in comparison to like my peers.
SPEAKER_02:Yeah. Yeah. That's I think that's really interesting. And, you know, now myself as a mom of five, I think back to that a lot. And, you know, I don't tell my kids how much we make, but I'm really intentional about taking the taboo away from money. Because I know my mom never talked to me about money. I just knew a concept of we can't afford it, or, you know, if you go to the store, don't ask for anything because you're not gonna get it. You know what I mean? So I understood that money was something that you could use to get things that you wanted or needed, but there was never any conversation of budgeting or finances or, you know, saving or investing. And I remember, you know, also at that same school, one day, you know, uh one of the students were talking about this new company, Apple. Oh. And how her dad was talking about getting investments in Apple. And, you know, I mean, y'all, this is let's see, I was uh eight or nine at the time. So that's like 20 something years ago. I mean, so this would have been at the debut of Apple, like when the first, before the first iPhone came out. And so I can only imagine if her dad actually did make that investment. You know, I mean, come on. We're not gonna try right here, right now. Okay.
SPEAKER_04:But we all wish we would have. I have a fun story because um my mom was a retired college professor, and in education, they actually used a lot of like Apple computers. So like my mom had the first Apple laptop when it came out, but never invested in Apple at that time. So, like, literally growing up, all I used was Apple computers back when they were called Macintosh. Yeah, and never she never invested in it at that time.
SPEAKER_01:What a miss. What a season. I know. I mean, granted.
SPEAKER_04:Hindsight's 2020, and my mom has done very well for herself, and money's not an issue, but I'm still like mom, like, how did you just do that?
SPEAKER_01:But it could have been better with that Apple Apple. Oh man, with that Apple girl.
SPEAKER_02:We had all done it. Oh, you know, just even that, the fact that their children at the you know, at the time were overhearing those conversations. That's probably dinner table conversation. So we have to, and I know it's been my mission as a mom to make those kind of conversations dinner table conversations too, so that it doesn't feel like when they do get older, they're just, you know, deer in the headlights in the real world about money and you know how to make it.
SPEAKER_04:Oh, we definitely tell our kids, especially how much things cost. Yeah. Because they still think like$100 is a lot of money.
SPEAKER_02:I'm like, uh, not anymore. Yeah. Oh girl. We can run through$100 quick. Look at that. And I used to remember to be like, just buying berries. Yes.$20 used to get you, you know, movies, a a meal. Okay, maybe also something at the gas station. And you might have some change left over.
SPEAKER_01:Yeah. Those days are gone.$20 long gone. Yeah. Ellie, let's go into your kind of origin story of the$1,200 stimulus check that you turned into a multimillion dollar business. Because walk us through that. How does one take$1,200? And, you know, talking about$20, what it used to be,$100, what it used to be,$1,200, you know, is a lot of money, but most people don't see that as a life-changing amount. And you really turned it into a life changer. Girl.
SPEAKER_02:So let me take you back to where I was at that time. So uh when I was thinking about starting a business, I had just gotten a divorce. Um, I was living back at my mom's house with my four children at the time. My twins were only, I think, nine months, six months, something like that. It was very, very, very fresh because I had just had them in April and we separated in like September. So they were very, very small. Um, and then, you know, shortly after the pandemic hit, so here we are in 2020. Now I'm at home with all four kids. I don't have a job. I'm doing DoorDash and Postmates, and you know, it was really uh up at that time because of the fact that no one was pulling out. So I'm, you know, got my kids in the backseat. We're driving all around LA, delivering people's chipotle, delivering pancakes, just like, girl. And so when I knew that those stimulus checks were coming, I started to think, okay, I feel like this is a once-in-a-lifetime opportunity. What am I going to do with this money? Now, of course, being a mom, my children got their own little stipend, but that just went into a savings account for them. I had to think, what am I gonna do with this$1,200 that's going to come? So I actually got mine later than almost everyone else in the country. So I think that that was an advantage because I saw people taking their stimulus check and going to the Louis Vuitton store. I saw people lining up at the grove. I saw it and I said, you know what? I'm not gonna do that. I'm not gonna take this money and go and buy a bag. Like, I'm not gonna do that. So when I got mine around May or June, I knew I was gonna put it towards something. I just didn't know what. So uh really at that time, I had already thought about maybe I should start a consulting company. Because prior to starting my business, I worked for a startup in the financial services. And so I was director of sales at that startup. So I had a lot of experience with sales, I had a lot of experience with, you know, marketing, managing a team. Um, and I loved financial services, you know. So I knew that that was my world and my gift. But now that I wasn't getting hired for a job, how could I take those skills and actually put it towards something? So I had started to create content on LinkedIn, you know, I was like, all right, maybe people will hire me as a consultant. Nothing was popping off. So when that$1,200 came, I used a portion of it to upgrade my phone because through watching YouTube videos, I knew if I wanted to be a content creator, I needed to have at least a good phone. So some of it went to that. I also went to Ross and purchased things like, you know, these really cute backgrounds that you have right now, little flowers, you know, a shelf, just like something that would look nice if I'm recording videos. I also bought a Canvas subscription to be able to make my own content. And I formed my LLC with that$1,200. And the last thing is I bought some domains. So for my website, et cetera. And then the little bit that was left over, I kept it in case I wanted to run ads, which I've never run ads because I know nothing about it. So that's really how I divvied up that$1,200. And the rest of it went into just sweat equity. I committed to posting four times a day, every single day. That's a full-time job. Full-time job. I'm like, you know what? If no company is hiring me, I'm going to hire myself. And I'm going to show up for myself the way that I would show up for a job if I had one. And so I made content creation my job. And I was just talking about finances. If you're a business owner, here's what you can do to make more sales, you know, things that I had experience with at the job that I had. And it really wasn't until I started talking about business financing and business credit that everything took off. So uh, long story short, my first ever product that I sold was$15. It was called a business credit master class. And I was educating entrepreneurs how they can build their business credit and become fundable. And uh that product made me my first$10,000, my first$100,000, and then I created a second version that made me my first million dollars off of a$50 product.
SPEAKER_01:That is so incredible. I love you you said so many things. Were you gonna say something?
SPEAKER_04:No, I was I'm I'm taking it all in. And for those people out there that don't realize how much time goes into making social media posts, you may see a 30-second reel. Trust me, it takes probably at least 30 to 30 minutes to an hour to probably create.
SPEAKER_01:Oh, yeah, at least and sometimes longer. Yeah. Oh my gosh. It is an investment of time for sure. 100%. I love that you observed what other people were doing, right? Because everybody was like, I got my STIMI, and they were out in the streets. Yeah. And you were like, I'm not gonna do that. And I think, I think so many people did exactly what you just described. They were like, oh, it's free money, and I'm gonna do whatever I want, or you know, do so, I'm gonna treat myself. And you were like, I got these kids, I'm up in my mama's house. This is not for me.
SPEAKER_04:You know what's funny to me too?
unknown:Yeah.
SPEAKER_04:People always think it's free money as if like the government. Oh, right. That's it. Like we didn't give the government this money to turn out and give it back to us.
SPEAKER_01:Right. But you you went and and did something so responsible and you had a plan, and you, I mean, even just the way you talked about how you divvied up your money, you got your domains, you knew you are going to take this money and invest in yourself and show up with something that is very specific, right? You have your niche. Yeah. And it's so important because even regular credit for people, people don't know how to build credit. People don't know what makes up credit, people don't know why their score goes up and down. Yeah. And even if they have a lot of money but they don't have credit, business credit is completely different. Yeah. And so the fact that you realize that that is a market and you tapped into it. And I mean, you, aside from your courses, you offer so much free content. I mean, if you if anybody, when of course we'll link all of your socials, you are constantly dropping this grant, this opportunity, you know, apply here. The deadline's coming up for free, you know, free money. You just have to go after it. I mean, you're providing so much knowledge. It's just absolutely incredible. So kudos to you. Oh my gosh.
SPEAKER_02:Well, I really appreciate that because, you know, I've been told that, oh, you give too much away for free, you know. And this is usually from other people who are in the community or in this uh maybe content creator world. And I'm like, but you know what? We need more of that. You know, I want people to feel like, wow, if I could learn this information from her without paying, imagine what I'll learn when I do pay. And that's always the experience people have is they get, you know, some free gems, like I like to say, off of my content. And then they come to a class or they enroll in a product and their mind is just blown. And I feel like, you know, in terms of just a giving principle, I feel the more that you give, the more that you'll receive, you know, and that's how I operate my business. So, yes, I might give a lot away for free, but it has never rendered me broke. You know what I mean? It has never not worked out in my favor. And so I will continue to do that because I think also in this social media world that we're in, and now there's a lot of people creating content, people talking about business credit. I mean, you see it too. People need someone that they can trust. And I think that when you can just extend a hand and say, hey, whether you sign up for something or not, here's the information. I think that that helps, you know, let people's guard down so they can say, you know what, maybe I'll go with her, or maybe I'll enroll in her class. Because up front, she didn't ask me for anything. She just simply wanted to see me win. Um, and so that's one of our core principles at our business and with our team. Like we truly want to see people win, whether they enroll or not, that's the start of it. And they typically enroll. So that's a good thing.
SPEAKER_04:And I can I consistently see, you know, individuals who are successful and doing great things that they are consistently giving out so much free stuff. Yeah. And like, just like you said, it doesn't hurt your business because it, like you said, it's a lower entry point for a lot of people. And especially when it comes to like the business credit stuff, like I see so much wrong information on business credit, it's insane. Like, I'm like, yeah, you are telling people to commit fraud, is what you are doing currently.
SPEAKER_02:It is so crazy now. And sometimes I think like, because when I started talking about business credit, I was really the only voice in the black community. Um, and I was really the only woman. And so, you know, sometimes I wonder, like, gosh, did I create this wave of people just really excited about business credit and funding? Um, I don't know, but what I see happening is there's a lot of lack of integrity, you know. Why are you telling people to do this? And you, I know you know that this is illegal. Like, I know you know that this doesn't work. Like it doesn't work like this, you know. Um, it's so dangerous. And, you know, I can only do so much. Like I can only create so much content. I cannot, um, and I don't want to denounce people, you know, I don't want to get messy in that way. But now a lot of our content and, you know, a lot of my emails that we send out has really been telling people be careful. If you see a video that has 50,000 likes and it seems like everyone's like, oh, this is so cool, ask me. Check now, you can check Google, like double check these things because people just want to get the clicks, get the sale. They may not actually care if you end up getting caught by the feds. Okay. So let's not do that, you know? Um, yeah, girl. That that's the bittersweet side of you know, content is that you can have those who really are doing it for the right reasons, and then you can have those who are like, hey, I just want to make quick money. And you can make money with content, but there's where the integrity comes in, you know.
SPEAKER_04:Yeah, it's great that there's so much access to information now, but then there's also information overload. And as far as people have a hard time deciphering between what's true, what's false, and then also even out of the true stuff, what's applicable to their situation. And I feel the same way that you do, especially, you know, with the financial services industry, that like I see so much stuff out there, and only time I ever comment on somebody else's post that I don't know is when you're just giving factual, incorrect information. Like it's in it's not my opinion. There's a definitive answer, and that's not this.
SPEAKER_01:Yeah, yeah. Yeah, I know that's so true. Ellie, talk to us about the early course and you know, did you have a bunch of naysayers? Did you have a great great community of people saying, This is amazing? Yes, there's a need, keep going, or you know, would love to know what you were kind of up against because content creation, you know, we are in it every day now, but it's still fairly new, especially when it comes to monetizing it and then getting a course up and running. I mean, walk us through a a little bit of all of that.
SPEAKER_02:Yeah, you know, that's such a great question. I mean, when I first started to create the content, I was living at my mom's house. So, you know, she didn't understand what I was doing. Okay. She just thought I was on my phone all day. I remember one day her really yelling at me, like, I'm taking care of these kids, and you're just on that damn phone. And I'm like, just you don't understand what's going on. Just bear with me. You know, but when I started to take this content journey, I honestly was silent about it. It was just me, myself, and I in my room. A lot of the time, if I was going out and doing DoorDash, I was making content on the road. And I think the reason that I intentionally kind of chose to not get a lot of people's advice, friends and family, is because I didn't want anyone to deter me from at least trying. And sometimes us as entrepreneurs or aspiring entrepreneurs, we have a vision that's clear to us, but it's not going to make sense to anyone else. Like I knew if I told my mom, hey, so I want to try my hand at posting 30-second videos four times a day and see how much money I could make. She would have been like, go get a job. You know what I mean? And so I said, you know what? I have to protect this idea. I have to protect my own courage because we can have the courage when it's just us. As soon as we start telling other people and someone says that's not gonna work, we're deflated, just like that. So uh really no one knew what I was doing or how it was going until maybe I crossed the 10,000 follower mark. Then it was like, oh, you know, I remember my neighbor was like, hey girl, I saw your post today. What you doing? I'm like, oh, nothing. You know, so that's once I had my confidence up and once I proved to myself that it was working, then I started to let people in. Because even when my mom had, you know, her negative opinion, um, and shout out to mom, you know, love her, but she just was saying what she knew. It's a different generation. They don't understand. It's a different generation, exactly, you know. So even when she had that negative opinion, by then I already had proof of concept. So it was like, you know what? I understand that's where you're coming from, but I'm going to keep going because I'm seeing traction. This is going to work. Um, and so, you know, to the other point that you asked in terms of how did I get myself up to create the course or what was I up against, it's actually really interesting because I didn't think that I was going to make a course about business credit. I thought my first product would be about sales, since that's what I was in. But when I made a post on Instagram about business credit, because, you know, working at my startup, we obviously I was working with my CEO a lot. I understood that he was always taking loans. I understood that we had to produce documents that showed how viable the business was. You know, so I understood what it meant to get funding as a business. And so I was talking about that on the post. And, you know, it got at the time, 500 likes was a lot for me. It got 500 likes, like, you know, 85 comments. I'm like, oh my gosh, I think I'm onto something. And so that day I told the people who commented, I said, hey, I'm gonna put a business credit course out. It's$15 on pre-order. Go to the link in my bio. 10 people purchased on pre-order for$15 right in that moment. And I said, okay.
SPEAKER_01:Did you have the course ready at that time? I did not. I love it. I love it. You're like, I gotta get it ready now.
SPEAKER_04:I have heard about people, a lot of people doing that. We're like, that's their test of concept. It's like, it's are people interested? Then I'll go ahead and make it.
SPEAKER_02:Yeah. Exactly. It's the test of concept. So as soon as those 10 people purchased for$15, I said, Oh, let me, I made the course the next day. And, you know, it wasn't perfect. I made it on Canva. I sat on a Zoom like this and recorded myself teaching through this presentation like a PowerPoint for one hour, uploaded that recording to a platform called Gum Road, and we were off to the races. And so I think, you know, for those that are listening, get out of your own way. It's so important. It doesn't have to be perfect. You don't need the fancy cameras, the fancy background. I recorded that course in my bedroom at my mom's house. And that is what went on to making my first 10,000, then my first 100,000, and it paved the way for my first million dollars. So you really have to pay attention to the signs. As soon as you see that you have even a group of people interested in something, go out and do it. Make it right away. Make that prototype right away and allow the people to give you feedback. Once those first people purchased the$15 course, then they started saying, Well, hey, I was able to get this score in business credit. Now I want to do this. Can you help me? That's what made the way for part two, part three, and you know, here we are now. So it's so important to just do it. Don't think about how it looks, just do it because that is what is going to lead to the next renditions of everything.
SPEAKER_04:The biggest thing I took from that was you initially had an idea of what you were going to do, but then you listened to your audience of what they wanted, and then you pivoted.
unknown:Yes.
SPEAKER_01:Yeah. Yeah. Well, yeah, because I mean sales is obviously such a powerful topic. Everybody's selling something. Yeah. So I mean, there's obviously a market, but the fact that you were I think that's an important thing too, is you were looking at what was happening on social media. Where were you getting the likes? Where were you getting the comments? And, you know, social media gives you a lot of powerful data if you take the time to look at it. And so that's something else that we've had a couple of other content creators on, and they're like, you have to look at the data. You can't just willy-nilly post, you know, and think, oh, people are gonna love this. You have to look at the analytics because otherwise you're gonna be missing a potential, you know, gold mine, which you landed on. And I think that's such a great point as well.
SPEAKER_02:And something that I often remind myself of, even now, five years in, is, you know, it's not about me. The content that I create is not for me, right? I I know these things, it's for the people who are going to consume this content. And, you know, that connects to the larger purpose of being a business owner. You're here to provide a solution. Someone needs that solution. So I could have stayed stubborn and said, well, I want to teach sales and I want to create a course on sales. And so, like it or not, that's what I'm gonna do. But that's not what creates successful businesses. I have to listen to my audience and realize, hmm, they don't really care about sales. They want to know how they can position themselves for funding success. So let me lean in and give the people what they need. And I think, you know, now for those who are growing businesses, who are content creators, you have to recognize that there's a big element of servitude in running a good business, right? Yes, you are running this business and your life is getting better. But if you're doing it for the right reasons, you're also in it to help other people's lives get better, whether it's just them watching a 30-second video or actually enrolling in, you know, a three-hour-long course. That has to be a big part of it. And so I realized early on, my job now is to be the best business credit coach, business funding coach, you know, uh business grant coach on the market. So I can ensure the people are getting what they need. And a nice byproduct is as well. My life is financially changing too, you know, for the right reasons.
SPEAKER_01:I think the fact that you lead with such integrity is why your business has been successful because there's a lot of noise on social media, and you have to use, you know, some critical thinking and some discernment. To kind of weed through that noise. And you have shown up genuine and transparent and honest from the very big very beginning. And I think that resonates, especially when, you know, it's like everybody's pushing a product, everybody's pushing a course, everybody's got an affiliate to this, to that. And so you have to really find the people who are very clearly in it for the right reasons. And just from this conversation, you can tell like you are there to serve the people, you know. For the people. For the people. Yes.
SPEAKER_04:And you also walk the talk. Because to start a to start with twelve hundred dollars, especially during the pandemic.
SPEAKER_01:Yeah.
SPEAKER_04:And then to build it to what you have today. And and we you built a good portion of it in less than a year, like that's insane.
SPEAKER_01:That's insane.
SPEAKER_04:And you know, it's it just shows that for my other people that maybe have been doubting themselves that like there is a route. There's a way to do it. You don't need thousands upon thousands of dollars to start your business. Now, obviously, depending on what your business is, but you know, there's a way.
SPEAKER_02:There is a way, you know, like they always say, if there is a will, there is a way. And, you know, even when I'm coaching clients, there, you know, some people are like, I just want to run ads. I get I want funding so I can run ads. And there's nothing wrong with ads, but I have not run any ads in my business and I've been able to build it to what it is now. So I often tell them, hey, I know it feels like just throwing money at ads and throwing money at the business is the solution. But if you don't have data like we discussed, if you also don't know what your audience wants, and if you don't already try to build it yourself without money, you're not gonna really appreciate the results that may or may not come with ads anyway. You know, it's really important to first start bootstrap. You really have to bootstrap the business. I think that in order to truly see if the business is viable, if you even really like the business that you're doing, you have to bootstrap it and approach it with, okay, I have zero dollars. How am I gonna get this off the ground with nothing? If you can get it off the ground with nothing and get some traction, so whether that's getting views, now you're starting to get follows, you know, or you're actually pushing a physical product, if you can get it off the ground with nothing, now ads or money is just fuel to the fire. You've already got the fire going. Now you're just throwing gasoline on it. That is how you're going to be able to scale that business. But if you have no proof of concept and you just think money or$100,000 in funding is gonna make the business come to life, I'm sorry to tell you. You're gonna be in debt and you're gonna be stressed out, you know. So doing it with nothing, I think then creates the foundation to then be able to really do it long term with more money and with funding. That's such a good call out.
SPEAKER_04:So I do want to kind of pivot to a little bit more of the focus on building the business credit. What is one of the biggest misconceptions that you think people have when it comes to building business credit?
unknown:Wow.
SPEAKER_02:I've heard a lot. Let's see. I would say gosh, I would say the biggest misconception that people have is that you uh you can only build business credit with personal credit. I think that is a misconception. People think that they go like this, they're hand in hand. And that it's not the case. Now, when you are first growing your business and you don't have a business credit score, having your personal credit will help you get that business credit card. For example, you cannot walk up to American Express, and I used to work there, so I know you cannot walk up to American Express and want the business platinum card, and your business has only been in existence for three months. It's not gonna work. You have no history. But if you have a 700 credit score and you say, you know what, I want the business platinum card, and here's my personal credit to help me get in the door, yes, you can get the business credit card. And the great thing about business credit is that when you are issued a business credit card or a loan in your business name, it will only report to your business credit. So you will not see an American Express platinum card on your personal credit for your business. Like if it is a business platinum card, it will not report to your personal credit score. It will only report to business credit. So I think that's the biggest thing. People think that when you're building business credit, it doesn't really matter what you do with your uh data or what you do with your trade lines, as long as you have great personal credit. No, you need to have both because your entity is separate from you. So, me as an individual, I can have great personal credit, but you also need to make sure that your business, which is its own entity out in the world, has great business credit because that is what is going to get you into doors that your personal credit cannot always get you into. You know what I mean? So I think that that is really, really key. Um I would say probably the second biggest misconception is that you don't have to do anything to build your business credit. People think that it will just grow on its own just simply by having an LLC for five years, but that's not the case. You do want to make sure that you add trade lines, you know, some can be as simple as Net30 accounts with places like Uline and Quill. Those will boost your business credit score. Other trade lines are, you know, vendor accounts or um gas cards will build your business credit. You know, there are ways to intentionally boost that score so that when you do approach a lender, they can see, hey, this business has not only been around for two years and I have their business bank statements, but they also have a consistent payment history on their business credit profile that shows me they pay things on time. That is really, really important because now more than ever, lenders are looking at that. They really are.
SPEAKER_04:So for a listener out there who maybe does not have that 700 credit score to help from a personal standpoint to initially get their business credit started, what are maybe some steps that someone like that should take?
SPEAKER_02:Ooh, that's a really great question. So if you are someone listening and you do not have good personal credit, but you do want to start building business credit or accessing business credit cards, there's a few places you can go. So number one, Capital on Tap is a great business credit card provider that does a soft inquiry on your personal credit and will typically approve you for as low as$2,500 on a business credit card to as high as$50,000 on a business credit card. That is a great place to start building up business credit history. It's an actual credit card that you can use and it's only going to report to your business credit. Another thing that you can do in order to start accessing business credit, even if you don't have the best personal credit, is start to build up that score with those trade lines. So I know it's not exciting, but Amazon has a net 30 pay by invoice opportunity that allows you to access business credit. U-Line does, Quill does. These are accounts that are going to build up that business credit score. Now, that will only take you so far. At some point, you are going to need to have at least a 650 personal credit score, especially when you're trying to get that first loan or first large limit business credit score, uh business credit card. So what I would say you should do is on the personal side, go ahead and add an account with a company called Ava, A V A. And I'm not sponsored by them. I just really love this product. So Ava is going to approve you for a$2,500 or$4,000 personal credit card. And it's only going to allow you to use about$25 or$30 of that limit towards things like subscriptions. Now, what's really powerful about this is you're going to get this high limit, but this really small or low utilization. And so within that first 30 to 45 days of that personal credit card with Ava reporting, you're going to see a 50-point increase. Many of my students have seen a 75-point increase, 35-point increase. That is a great way to get that boost in your personal credit that you need. And now you can go to the table of these business credit card providers and of these business lenders and say, hey, I've got my business credit together and my personal credit score just went up by 50 points. So that is really going to help you be more of a power player when you're trying to get funding for your business.
SPEAKER_01:Okay, you just gave away a lot of really great information. Free. Free information.$3.99. Is this what people can learn like back to back to back in your courses? Like how, because here's the thing. Is this what people are coming to you for? Is like a crash course and like get me started.
SPEAKER_02:Absolutely. And I'm really proud to say that since starting my business in 2021 or 2020 rather, we have now had over 50,000 people enroll in my business credit classes. So I've had the pleasure of teaching over 50,000 people how to get funding. And I mean, we've I can't even count how many people have gotten approved, but we have a rough number that at least we have helped people secure over$15 million in business credit, business loans, and some grants are sprinkled in there too. So I mean, I'm so excited about that. You know, I feel like that's really amazing. It's gone to their businesses. So yes, our signature program for funding is called Fully Funded. And it is very in-depth, but that course will empower you on all fronts. You'll learn how to build your business credit, you'll understand what some micro lenders you should approach, what a CDFI is, which is a community development financial institution. Those are also great places to get funding, even if your score is as low as a$550. We touch on, of course, how to build your business credit, how to fix and build your personal credit. Because I just want to say something really quick. Those of you who are listening, if a company is telling you, oh, give me this money, or a content creator is telling you, pay me XYZ and I'll fix your credit for you, that is illegal. Please don't do it. And I'm looking directly at you at the camera. You it is illegal. Okay. You should never be paying anyone to fix your credit for you. Now, someone like, for example, we give you the template of the dispute letters you need. I tell you who to email, who to call, the address. You can pay for the information, but don't let anyone make you think pay me and I'll fix it for you. Please don't do it. Please don't do it. It's a great call out. Yes.
SPEAKER_01:If it seems too good to be true, it usually is.
SPEAKER_02:It usually is. It usually is. You know, and that's why I'm so big on in my courses. We want to teach you how to fish. So fully funded is so in-depth in that way because I want you to be able to go out and get that money. All those$15 million we've helped people secure, I don't get any kickbacks from that. And that's okay. I could make my business model, oh, just give me the money and we'll do all the work for you and go get you the funding, right? There are people that do that. But I genuinely want you to learn how to fish so that you can go out and then keep getting funding over and over and over again as a result of this product. So uh yes, fully funded, we're the best.
SPEAKER_01:I love that. That's incredible. Also, we need to update your bio because I said 7 million, and now you've more than doubled that for all of the funding. That's what we just thank you for that. I need to update my bio. You can't even keep up with all the money. I mean, it's so exciting. It's a great. Yeah, it's really good. Well, let's pivot into your new business because you are in Senegal, which is beautiful. I love when you like take your family stroll. And let me just say, too, I love that a lot of your content has kind of pivoted into like, look how beautiful Africa is. Look how beautiful Senegal is. I think, I mean, and obviously there are a lot of parts in various countries in Africa that are impoverished. And that is still a truth. But there's also wealth and community and uh businesses that are booming and uh real estate that is booming. And I I really appreciate that you are showing that side of your new home as well. And now you're building this beautiful cafe and co-working space. So walk us through this new journey as a business owner of like a storefront, you know, like a brick and mortar. I mean, that's a whole new ball game. It is such a new world.
SPEAKER_02:And, you know, it's crazy because I was talking to God the other day, and I'm like, God, why did you give me this idea to open up this cafe? Like, I don't know anything about coffee. I mean, I drink coffee, but in terms of making it, I've never had a storefront. You know, my business has been primarily virtual, but you know, the idea was so clear. You know, when you get that loud voice, do this, it's like, okay, I can't ignore it. Um, and it's it's truly been one of the chat most challenging things I've ever had to bring to life because it's such a different world, but it has reaffirmed my belief in entrepreneurship and reaffirmed my belief in what we talked about earlier that sometimes you just have to do it. Even if it's not perfect, I feel like it's those days where I'm creating that$15 course again, you know, and putting it out there like that's what this time is. And it's so exciting because it gets better every day. So, you know, we're in um this area of Dakar is called Mamels, and it's really, I would say it's a really artsy area. There's a lot of Americans that live here, a lot of French people. Um, it's very modern, I would say, and we're really grateful. I'm really grateful that we have a corner location. So wherever area you're coming from, you can see us right here, which is so, so cool. Um, and you know, I think my favorite part of opening this business has been the jobs that we've been able to create, you know, because I've had the pleasure of building out my own team through my business with Elevated Academy. But, you know, these are real people with, you know, real families. Senegal and most African countries don't have a stable job market, so there are not a lot of jobs. We've been able to hire now 10 people, which is like so cool, major. That's 10 households that we get to support. Um, so I'm really, really excited about that. And we should be opening in another month. So I'll save you guys a frappuccino.
SPEAKER_01:Yes, please. Thank you. It looks beautiful. I love all the drinks that you guys are testing. They look amazing on all the fresh fruit. And I keep telling Brandon, I'm like, we gotta get out of here. This is we got we gotta, I, you know, it might not be Senegal, but like we need to go and visit. We need to come, you know, pop up our laptops in your co-working space.
SPEAKER_02:And you know, come to and I think something that I would add too, just for those who are listening, like, I really want people to understand that this is, again, a completely new business for me. And I was very scared to go into a new business that I have no experience in. But one thing that those of you listening and just everyone needs to understand, is that if you have the idea, you already are capable of bringing it to life. I firmly believe that you would not receive an idea, you wouldn't, your mind would not even go to that place if you already did not have the capabilities to actually make it happen. And now, as you mentioned earlier, we are in the information era. So although I don't know how to necessarily open a cafe, Google does. YouTube, you know what I mean? YouTube can tell me some stuff.
SPEAKER_04:Chat GPT, you know, tell me some stuff.
SPEAKER_02:And so you kind of just mix that in with your own experience. You try, you test, you try, you test. And I think that's the really just beautiful thing about entrepreneurship is you can do anything you want to do. You know what I mean? You can bring any idea to life because you have the ability to test, try again. Okay, that didn't work, try again. Let me do this. Oh, messed up, try again. And, you know, I really want to encourage you all listening, try again, you know, just because it didn't work the first time, do it again. If you have a question and you don't have, you can't afford mentorship, hash chat GBT, you can at least get some generic information there. But I don't want to see people holding back on their idea just because they're not experienced or qualified in that area. You don't have to be qualified. You just need to know that you have the vision and you go find the people that are qualified. You go find the baristas, that's who we found. Now you go find the chef who can make an ex-benedict. I can't make an ex-benedict. But he can, you see. And so that, you know, I hope that really frees someone to say, you know what, I'm gonna go after that business because if you have the idea, you can do it. It's just a matter of finding the right people.
SPEAKER_01:Yeah. Well, Ellie, we usually ask, you know, what do you want to leave our audience with at the end? But that that was that was the perfect wrap-up. I mean, this has just been such an inspiring conversation. And look, I know that we could talk for several more hours about the highs and lows and the ups and downs and the obstacles, because I'm sure it wasn't always rainbows and butterflies. Yeah. But in the information era, you can figure it out. You can bet on yourself, believe in yourself, hire the people or bring on the people who also believe in your vision, who can fill your gaps, those eggs ex-benedict gaps. Right. And you can do it. And this has been such a wonderful conversation. Thank you so much for joining us and dropping so many gems.
SPEAKER_02:This is yes, it really has been such a wonderful conversation. I cannot wait to come back. We'll have to do a part two, maybe once we open. Um I would love for anyone who's listening to keep in touch. Don't hesitate to reach out, send me a DM. I always answer. My team always answers. No robots over here. It's really us. Um, so we're looking forward to helping you all with your businesses. Where can everybody find you, Ellie? So you all can find me at Ellie Talks Money. Um, you can also connect with my funding agency, which is Fully Funded Co. You can find both of those in my bio. And if you're a mommy who wants to make more money and build wealth for your babies, then you should definitely follow my brand, Mommy to Millionaire. That's everything that we're focused on over there, too.
SPEAKER_01:Oh my gosh. Spoken as a mom of five. I don't know how you do it. That's crazy. Yes, we will. Ellie, thank you so much. This has been amazing. Don't forget, Benjamin Franklin said, an investment in knowledge pays the best interest. You just got paid. Until next time.
SPEAKER_00:Sugar Daddy Podcast go. Learn how to make the pockets grow. Find mental freedom where we grow. Our investment, money, flow.
SPEAKER_01:Thanks for listening to today's episode. We are so glad to have you as part of our Sugar Daddy community. If you learned something today, please remember to subscribe, rate, review, and share this episode with your friends, family, and extended network. Don't forget to connect with us on social media at the Sugar Daddy Podcast. You can also email us your questions you want us to answer for our past the sugar segments at the SugarDaddyPodcast at gmail.com or leave us a voicemail to our Instagram.
SPEAKER_04:Our content is intended to be used and must be used for informational purposes publicly. It's very important to do your own analysis before making any investment based upon your own personal sort of content. We should take independent money to advisor aligned professional and connect to it or independently research and verify any information you find in our podcast and which we rely upon whether for the purpose of making an investment decision or otherwise.
Podcasts we love
Check out these other fine podcasts recommended by us, not an algorithm.
