Episode 68: Richard Di Biase and David Moskowitz bring you back! Remember that time you dreamt of starting your own business, and those dreams appeared to be just too big to be true? Well, they are here to tell you that no dream is too big. As David celebrates the first anniversary of his business Stretch Lab and the opening his brick and mortar store in Toronto, he wants to share his entrepreneurial lessons, the good, the bad, and the ugly, with you. The journey isn't always smooth, but it's the bold steps that count.
Have you ever heard of the Canadian Government's Small Business Loan? This unique fund gives entrepreneurs a chance, along with the necessary resources to turn their vision into reality. However, the road to securing a loan isn't always rosy; there are hurdles like personal net worth, liquid cash, and collateral. They discuss the application process, its significance, and share some strategies to overcome these challenges.
And finally, what's your mindset, and how do you measure success? Let's talk about it. We believe in the power of small daily wins and drawing wisdom from Admiral William H McRaven's book, Make Your Bed, we invite you to explore how simple tasks can nurture discipline and lead to bigger accomplishments. We also want you to consider various funding strategies, including using your pension as an investment tool. So, let's dream bigger, make waves, and take action together!
Connect With Us!
Connect with Richard Di Biase:
Connect with David Moskowitz:
About The Making Waves Mindset Show
Richard Di Biase and David Moskowitz have left the 9 to 5 rat race, the security of a paycheque and the infamous pension, for bigger goals and ambitions in life! The Making Waves Mindset mission, is to have leading edge conversations. They encourage you to change your Mindset, get you to Dream Bigger, have you start Making Waves in life and to Take Action today!
They discuss mindset, leadership, inspiration, discipline, health & wellness and share their personal stories about taking the road less traveled, including the ups and down of being a business owners and entrepreneurs.
Learn from industry leaders and special guests from around the world, as they join Richard & Dave and share their stories.
Episode 68: Richard Di Biase and David Moskowitz bring you back! Remember that time you dreamt of starting your own business, and those dreams appeared to be just too big to be true? Well, they are here to tell you that no dream is too big. As David celebrates the first anniversary of his business Stretch Lab and the opening his brick and mortar store in Toronto, he wants to share his entrepreneurial lessons, the good, the bad, and the ugly, with you. The journey isn't always smooth, but it's the bold steps that count.
Have you ever heard of the Canadian Government's Small Business Loan? This unique fund gives entrepreneurs a chance, along with the necessary resources to turn their vision into reality. However, the road to securing a loan isn't always rosy; there are hurdles like personal net worth, liquid cash, and collateral. They discuss the application process, its significance, and share some strategies to overcome these challenges.
And finally, what's your mindset, and how do you measure success? Let's talk about it. We believe in the power of small daily wins and drawing wisdom from Admiral William H McRaven's book, Make Your Bed, we invite you to explore how simple tasks can nurture discipline and lead to bigger accomplishments. We also want you to consider various funding strategies, including using your pension as an investment tool. So, let's dream bigger, make waves, and take action together!
Connect With Us!
Connect with Richard Di Biase:
Connect with David Moskowitz:
About The Making Waves Mindset Show
Richard Di Biase and David Moskowitz have left the 9 to 5 rat race, the security of a paycheque and the infamous pension, for bigger goals and ambitions in life! The Making Waves Mindset mission, is to have leading edge conversations. They encourage you to change your Mindset, get you to Dream Bigger, have you start Making Waves in life and to Take Action today!
They discuss mindset, leadership, inspiration, discipline, health & wellness and share their personal stories about taking the road less traveled, including the ups and down of being a business owners and entrepreneurs.
Learn from industry leaders and special guests from around the world, as they join Richard & Dave and share their stories.
Yeah, right now, Re-vamping right, we are revamping our business plans. Re-vamp Okay, we're live Well.
Speaker 1:Dave, we are live on the.
Speaker 2:Making Ways, minds it Joan.
Speaker 1:I feel like I just fell asleep or something. Missed that little red light in the corner.
Speaker 2:Well, welcome everyone to another fine edition of your favorite mindset entrepreneurial show.
Speaker 1:That's right. Dream Bigger, make Waves, take Action. That's what we say. Yeah, if you are following us for the first time, welcome. If you are a continued follower and enjoy our show, subscribe. Make sure you subscribe so you know when to let it. The latest episodes are up and you can listen to us on your favorite podcast streaming site or YouTube. You can watch our famous Max Hedrin heads.
Speaker 2:See, Dave, I'm using my laptop now, which has a 2018 camera there you go. No a 2015 camera.
Speaker 1:Okay.
Speaker 2:I'm in the frame.
Speaker 1:You're in the high definition, high definition, I get that. Well, if you're enjoying the show, share, share, share. If you don't enjoy the show, as I always say, share it anyways. Some of them might enjoy what we're talking about. Leave us a review, please, if it is your first.
Speaker 2:Sorry, dave, no, no, go ahead. I was going to say, if it's your first time listening and finding the Making Waves mindset show, we are a mindset show. We want you to take action in life. You have to dream bigger, you have to make waves, you have to cause change in your life in order to get things done. So it's taking action, that's what we want to do and for Dave and I, we left the nine to five.
Speaker 2:We talk about the struggles, the up and downhill battles of being your own boss and through that journey, we want to share with you the good, the bad, the ugly and things that we have learned from our personal journey, because Dave and I recognize no one really wants to talk about the downsides and we've shared plenty of downsides to let you know that there is a golden path at the end of those obstacles. You just need to find a way to get through it and you, only you, are the thing that can stop you from getting where you need and would like to be. So thank you for joining, please write us, please let us know, please reach out if you have any questions or anything you want to share as a topic, and we'll bring them on, along with additional guests. So, dave, you had something interesting today which I think ties in perfectly. It ties in perfectly to what we are all dealing with, including me, at the moment.
Speaker 1:You know we got to play that song Money, money money, money.
Speaker 2:Oh, I'm kind of a guide.
Speaker 1:Have the. You know, that's what we have to edit right into this?
Speaker 2:I'm making notes for editing.
Speaker 1:What's that? I'm making notes for editing.
Speaker 2:We're going to find that I'll insert it here at the two minute mark. Okay.
Speaker 1:So I've been in business now for we're going to be going on our one year anniversary of Stretch Lab coming up in October that we started business. We ventured into it almost two years ago. Now, in February of next year will be two years. I've learned a whole bunch. It's incredible actually how much you learn in different types of businesses. Having a business in California and helping out and helping run business in California, and then opening up a brick and mortar business here in Toronto and then moving on to other types of businesses here in Toronto and other brick and mortars, you learn a lot about business operation, finances and how to get a business going.
Speaker 1:There's a couple of things that are frustrating me in relation to opening businesses, and let's just go back to why people open businesses. So why do you open a business? A? You want to make a living, right. You want to encourage your own personal wealth, generational wealth. You have the ability to follow a dream, follow a hobby, follow something that you really enjoy, and you want to make a business out of it. So that's one reason, right. Another reason is you want to provide jobs for people, so you want to provide an economic value to your city, to your country, to the people who live there. You want to provide jobs to them so they can make a living. And the other reason could be a service industry. Right, you want to provide a service to people. You want to provide, maybe, health care or consumer services, or business to business services. You want to provide service. Those are basically your main reasons for opening a business and why you would want to open a business. So how do you do that? So I'm going to dive into a little about how you can open a business here in Canada and Toronto and some of the obstacles that you have to go through to open those businesses.
Speaker 1:So in Canada we have something called the small business loan and the government of Canada provides a barrier, free in their mind access to a secured fund through the banks. So the banks facilitate the money in Canada and the government tells the banks we're going to secure and promote small businesses to open up and we're going to secure a certain percentage 20% of a loan up to $500,000 and we're going to encourage people to open businesses. Fantastic, great, great, great thing for the government to do. Because, as I said before, you open up a small business. What does it do? It encourages the economy to grow, people start spending money. Businesses help the economy grow, injecting money into the taxes. People pay for goods and services. People have jobs. All that goes to the tax bracket and it encourages people to spend money and grow and be able to afford their lives right Homes and goes on trips and stuff like that.
Speaker 1:So you make an application through the bank. So to do that you have to have a business plan and you go through a business banking. It's not the same type of loan that you would receive if you were applying for a mortgage, but it's a business loan. So there's stipulations that come along with that. Obviously right, because the bank needs to be satisfied that you're not going to be taking the money and giving it to a warlord somewhere in another country, using the money for criminal activity. So I get that. I totally get that. Unfortunately, in the past there's been frauds that have occurred because of these loans, because it's a secured percentage from the government, so people will take the money and use it for nefarious reasons. So because of that, they've really tightened their belts in relation to scrutinizing applications. So you have to have a certain personal net worth. Not only do you have to have a certain personal net worth. You have to have a certain amount of money as liquid cash down just to afford the loan.
Speaker 2:What about collateral Dave? Yeah, so you have a personal net worth right. That's the personal net worth right.
Speaker 1:So they calculate your personal net worth, they calculate how much liquid cash. So it all works on a percentage. So if you were just to simply look at it, there's 20% is secured by the government. That leaves 80%. There's a certain percentage that you have to put down 30% and then the rest is covered by the bank and it's of the entire loan. So if you, let's say, you need $100,000, you're looking at percentages of that that you have to have liquid capital of. So because it asks sorry, you can ask up to $500,000,.
Speaker 1:You can potentially make a business plan and open up a business worth $500,000 and get funding for that. This is the problem I'm having. This is the problem I have with the whole system. They won't give you a dime of that funding until you have certain things in place. So those certain things are the following If it's brick and mortar, you require a lease or a purchase of the property. You also require quotes from your general contractor To negotiate the lease. To negotiate the contractor, you have to actually sign a lease. You will not get a funding until you actually get your lease.
Speaker 2:But Dave what if you need to have capital to support that and they then deny your business loan? I can see the headache and the worry that is caused by that.
Speaker 1:So you basically have to have liquid capital to fund your whole project, even if it doesn't launch, because you basically have to start your business and start construction.
Speaker 1:Because the timelines don't line up. Most properties you go to will give you something called a rent-free. So basically they'll say, okay, first and last deposit, just like you would if you're renting something, and then they'll give you a certain amount of months or tenant improvement. Some places give you 10 improvement dollars. Actually, you go to the landlord, you negotiate money towards improving the property, like building out your business, like a washroom. You're not. If you close down your business, you're not taking your washroom with you. It stays there. So sometimes they'll give you improvement dollars. If they don't give you improvement dollars, most places will give you rent-free. So they'll say while you're building out your business, we're not going to charge you rent.
Speaker 2:And that's a good landlord Great landlord, that's a good if you can find someone in the commercial space to do that. I wanted to add there are two days from our real estate investing background. The other thing, too, is sometimes they want to see that you have the capital to support the lease, especially for commercial assets. So I can see the additional worry of well, what if it's denied? You didn't get the loan. Now you're trying to show you have capital that might not be there because it's critical to other parts of the business. So there's a lot. But that's good strategy finding something that could be rent-free or an improvement.
Speaker 1:So you do have rent-free right. So you have five months, let's say two months, three months commercial lease. So then you sign you on the dotted line and you start the process immediately with the bank. Well, the bank takes at least three weeks minimum, that's if they stay on, the ball Takes three weeks minimum.
Speaker 2:And nobody's on vacation.
Speaker 1:So you don't have the funding yet, but you're now wasting your time with your free rent and your contractor needs to start, so you've now wasted at least a month minimum.
Speaker 2:Money, money, money, money money.
Speaker 1:Right. Do you see the problem here? And let's say you get through the process and you're already a month into it, so you tell your contractor to start or not to start and then, once your contractor starts, you have to start paying them. So then what do you do If you don't have the liquid capital, if you don't have the capital to support it, how are you going to pay your contractor? I can't tell your contractor, I can't pay you. You have to start the work. You have to get the work done, because if you get through the process of the five months or two months or three months or however much free rent you have and you don't have your funding, then you can't open your business, you can't pay your contractor, your trades, whatever you have to do to build the place.
Speaker 1:The issue I'm having is it's not like buying a home. No one would ever buy and go and buy a home if they weren't pre-authorized for a mortgage. The business loan world will not pre-authorize you for a loan. They will not give you a document that says, yes, you're good. They give you something called the discussion paper. The discussion paper says hypothetically you're okay, here's what the terms are going to be, here's the amount that you're asking for, based on your business plan. Here's what our terms are. Here's the process. Here's the fees. Here's everything.
Speaker 1:Do you accept it? Yes, I accept it, but it's not an approval. It still needs to go to a credit team, it still needs to go to the underwriters and it still needs to be officially approved. Then it needs to get funded. That whole process takes three weeks to a month at least minimum. Because they don't line up how do you open your business. You have to basically either A have liquid capital or just make a wish, make a wish. Make a wish and hope that it's going to come through. There shouldn't be any reason. The banker that you're working with when you give them your business plan should work with that and say, yeah, but ultimately it's not an official loan until you actually get going. It's crazy, right? So we're in the process of building our second studio.
Speaker 2:And you're re-running into these.
Speaker 1:It's like a blast from the past. So we went through it. The first one. I didn't think anything of it. I said, oh well, the first one went through. That was a bit of a process but we got through it. So I'm like, oh okay, the second one will work out. This one has been more of an issue Because when you're dealing with something like someone going on vacation, when you're dealing with maybe a different person who doesn't do their job properly, delays, delays delays.
Speaker 2:Has there been any headache to the fact that you already have the business established and they're trying to see now? Can you balance two, Because that's always the thing they don't care.
Speaker 1:They don't care.
Speaker 2:They don't care, they're still.
Speaker 1:Yeah, they don't care, it's a different business. You have to get a small business loan to qualify for it. You have to open up a different business, even though it's the same type of business, but they're not worried about debt being.
Speaker 2:oh, you just received the loan.
Speaker 1:That's a good thing, though it's a good thing except they don't care about your business. They care about what you personally are worth, of course. So it's your personal net worth rather than your business. So your business could be making billions, millions of dollars. Let's talk realistically. Your business can be a million-dollar business. It doesn't affect you, it doesn't go well for you, it doesn't go bad for you, it doesn't matter, because it's your personal net worth that they're more concerned with.
Speaker 2:So some of you may be wondering how to increase your net worth, and what I can share is you need to buy assets, you need to have property, you need to start now. Or liquid, liquid, liquid, absolutely Liquid, helps.
Speaker 1:Absolutely, if I had. See. This is what kills me. You can have assets, you can have investments, all that kind of stuff. It's only the only look at it as percentages of those, correct. But if you actually have a million dollars in the bank, that's your net worth.
Speaker 2:That's good.
Speaker 2:Yeah, that's good. These are things that you can do to build. So one of the strategies that we did was we were real estate investors from 2018. So it was acquiring properties, building up net worth in terms of assets, liquidating properties or doing flips to properties to then create capital. And I can share, from a US perspective, what we're doing and there are kind of two different ways down there.
Speaker 2:But, dave's right, these are things that are critical, and if you don't have the net worth, you're going to run into roadblocks trying to secure financing in Canada, even in the US to an extent. So it's a challenge, because I think everyone maybe feels defeated, based on our current housing strangle in Canada, that we have way too many people who are not enough property available for people to live, and so this is causing this demand. Interest rates are going through the roof and it pushes people in a position where they're not able to afford anything. So, yeah, partner pool, create the net worth, start now. Maybe you want to get into business, but you go, I got to wait five years. I'm enjoying what I'm doing in the nine to five. That's fine. Start being strategic now if you can build the capital and or start acquiring property so you can have things that you can use as collateral and anchor for your net worth.
Speaker 1:Yeah, the one thing I would suggest is think of strategic partners as well. If you're wanting to open up a business beyond your net worth, then think of that. It frustrates me to the point that it just we sit here and talk about business and pushing people into business out of the nine to five and stuff like that we made that. I just find that this process of opening up a business is not. They don't make it easy and everyone could say if it was easy, everyone would do it. And it's frustrating to the point that what do we want as a society? Do we want small business owners? And why are we making it such hoops and hurdles to get going?
Speaker 2:I think, to your point. There's kind of two types of people. You either happen to have all that liquidity right or you're relying on the government to support and subsidize you for a loan. There's nothing wrong with that. The smartest people in the world. They create good debts and these are good debts, borrowing low interest rates, reinvesting that money into their business. Again, it's a chapter out of our book.
Speaker 2:As real estate investors, it doesn't make sense for you to deploy all your capital into something and deplete your net worth and deplete your liquidity and it's funny because I can share a story down here. But that is a challenge. So either you just happen to have and I find people say to me, dave, like, oh, old money. Have you ever heard of that term, old money, before? Yeah, so for those who don't know, I had to be educated on this a year and a half ago. I have some friends in the West and it's a phrase that they talk about families with generational wealth and that they are of the opinion that their kids today haven't had to do anything in order to obtain that money. Their parents, their grandparents, just did very well, so they got the money, and I don't like hearing that term. I think there's. Sure, maybe if the family had business, you were a part of it as a youngster and you were in their great. But a lot of people just think that, oh, life is easy, money's handed to you. It doesn't work like that. You need to put the effort into things. I understand families going to business together and they do stuff. That's great. But that's part of the chapter is to. You know, I don't want to speak for Dave, but for me it's creating generational wealth, building things.
Speaker 2:My family was never entrepreneurial. None of the people were Immigrated immigrants to Canada. Everyone was into their jobs, the nine to five, the pensions. Nobody was doing anything in the business space. But if you happen to have that old money, as they say, sure, if not, you are relying on loans and there's nothing wrong with that.
Speaker 2:Or if you get strategic and you find a money partner or an investor, that's a whole other level. So take a step back. There are things that you can do to work on investments and Dave's familiar with one, but things like even your pension. If you do leave the nine to five, you can have your pension reinvested into things where people can borrow that money at cheaper rates than they would at your traditional bank. So you then become a money partner. I am a money partner for somebody right now who needs money for their major investment. So there's so many things when you get into it. But down to the basics of what Dave and I are talking today, yeah, those are some scary challenges, as you got to put like the cart ahead of the horse a little bit you know, see if you have the skin in the game, and that's what they're looking for.
Speaker 2:What's your skin in the game? Yeah, definitely. I went on a tangent yeah, no, tangents are good because but it just got the information flowing, let people know. There's so many different things you can do, but the basics of trying to leave is have that net worth. Dave shared his Canadian edition. Insert Bieber crossing screen.
Speaker 1:And there's other avenues, as you were alluding to. There's private equity, there's investors, there's a whole bunch of other ways to obtain money for businesses. This is just the one avenue that we decided to venture into, which stay with us, because I think I'm teeter-tottering on private equity for the next venture. Good for you. Yeah, I'm teeter-tottering on it. I don't know that. The banks, we'll see. We'll see, we'll see where it goes. But I don't wanna say talk about the cart before the horse.
Speaker 1:But we'll see the next business venture that we get into. We'll definitely update the Making Waves crew tribe and let you know what we're doing. But we're gonna potentially venture into the private equity forum. See what's out there.
Speaker 2:Do it, do it, do it. That'll be exciting. One of my dreams, Dave, has been it's on my board just to have a capital. It's kind of like a mick but not a mick. It's a way to help investors on the real estate side. But the challenges that we've run into in the US for our business startup is now like, okay, now I wanna get into a pool and do something to help other people, and so I've had. I was telling you earlier about connection down with the chamber, so it's like there's ideas, but not right now. I gotta figure out other things and get things going.
Speaker 1:Buddy of mine opened up a private equity company and they just buy small businesses and fund small businesses and stuff like that and I'm like I could see myself doing that in the future, definitely if I have a large fund of money.
Speaker 2:It's coming. I can see it We'll get the Moskowitz in tow.
Speaker 1:We'll get there one day. One day we'll get there To give back to people and make it easier for them to open businesses. I think that would be an amazing thing to do.
Speaker 2:So to your point.
Speaker 1:So the economy grew 100%.
Speaker 2:So this is one of the struggles that we've had going to the US. So along the short was high net worth liquidity available, decided to make the purchase on a franchise. We make the purchase, we get the ball going. Real estate market changes because now liquidity has been deployed, we need to liquidate some assets. Interest rates scream up in Canada. Nobody wants to buy homes.
Speaker 2:We're having a weird economic spot, so literally the last quarter of our business plan is now deploying capital for startup, and so we've run into this hurdle where we have been delayed in opening our business. But there's been some other things beyond our control on a naming rights issue and stuff like that. It has nothing to do with us, it's to do with the state. That had to be dealt with. But simultaneously this was also a significant roadblock.
Speaker 2:So, going through this challenge and I've literally been talking to lenders and people on the phone the last several weeks I'd like to create a fund and a way to give back to other businesses, and I had an incredible conversation the other day with a chamber of commerce that specializes in dealing with Canadians essentially run by Canadians who now live in the US about finding ways to give back, and I'm somebody that wants to give back.
Speaker 2:I always give back. It will be exciting to see our doors open, get our business going, but then find a way to help the Chamber and help other Canadians who are in this weird spot of trying to open a business in the US. So this ties into the show perfectly, because there's kind of two ways that you can open a business in the US. One if you're an American citizen, you get an SBA loan. It's called Small Business Administration Loan and, unlike what Dave said, in Canada that's actually given to you by the government. It's done through the bank but it's directly from the government. Where in Canada, dave you're explaining, it's kind of funded through the banks but they get secured capital from the government.
Speaker 2:That's right, okay, so the SBA gives a small business loan, have a business plan, very similar things. I'm not a citizen of the US, so I have to work with other hurdles. I'm an investor in the US. So, as an investor in the US, I have to look at various pieces of criteria and one of them, unfortunately, is dealing a lot with capital, which is why I was kind of laughing earlier, because you can't get an SBA loan. You need to have additional capital. So additional capital that was already deployed and already projected to be set aside was no longer there. So we're in this weird spot of now working with a money partner. If you happen to be a money partner, capital investor, reach out to Richard to be asked, please. We, yeah, so we have to work with somebody who has additional capital, and it's I know from from 2018, when I started with investing in real estate.
Speaker 2:There is so much money out there and it's very hard to have these conversations with people who are unwilling to take risk. They're comfortable in the nine to five. They don't understand. They go that old money conversation comes up all the time. Old money, it's available, old money. I'm like no, no, no, no. There aren't wealthy families. There are wealthy people and they're willing to help you. You need to find them in your network. You need to show them who you are, that they can trust you. You have a plan. You have to build rapport, so we have to look for some of those strategies as well.
Speaker 2:There are other things that we can do, but from a high level point really, it's an SBA loan. You have to be a resident or you're having to bring, like pure capital down because you can't exactly open a business in the US overnight. So we've been dealing with that and it's been. It's been a challenge, but it's like hey, how can we help other people? Like let's do this, amongst other things, let's try to find a fund or support a fund that might exist to fund other people, because that was one of the conversations. The person goes Richard, I don't know anyone right now, but like, let me think about this. There's somebody down here and people of capital sitting will come up with a return, a balloon payment, an interest, whatever you want to make sure that capital is returned, plus a thank you for all your time.
Speaker 1:There are people out there. I'm sure there are, and this is the part of business that I don't know yet it's exciting, though.
Speaker 2:It's exciting because you're learning so many new things.
Speaker 1:Right, and this is you know. This is why it's a journey for me and you in terms of, like learning about business. I'm sure there's people out there who are either watching or listening to us saying, oh, just go to so and so or just go this way.
Speaker 2:Just go this way, you know, let me know.
Speaker 1:There's got to be somebody in the business world that does this. We just haven't come across them yet and we just have yet found that avenue yet, but if you are following us, we will let you know. 100%, 100%, definitely, but it is, it is an issue. It is, it is something that you have to prepare for. So for those of you who are thinking of making the decision to leave the 95, thinking of going to business, think of these things ahead of time and ensure. Ensure that you have the net worth that's going to support your debt. Income ratio is what, just like if you were to apply for a mortgage very similar to that. Except this, they want liquid capital as well.
Speaker 2:So I want to stress yeah, you're right, dave. I want to stress in there, as I said at the beginning of the show, you are the only thing stopping you from accomplishing what you want to accomplish, and I could have easily said this is not going to work immediately go, I'm done, I'm out, I'm finished. But I think that shows to the credence of who Dave and I are on the show. We're talking about the downs. We're letting you know our personal journeys of small business, building an economy, trying to employ people, creating a life. If I said no and gave up, we wouldn't be anywhere.
Speaker 2:So the fact that we keep pushing forward yes, there's been a lot of knows we? We literally had a contingency plan, contingency budgets. Things don't go according to what you thought they were going to go. It's like the worst of worst case scenarios. We've experienced that as investors in real estate. We've seen the damage that happens with the economy. We know what happens when there's demand for, for rentals and then you have tenants that don't want to pay. Like we know these things. If you just gave up, you wouldn't have learned from those experiences and those journeys. So, keep pushing forward.
Speaker 2:There's a lot of great material out there. Dave and I are always happy to connect and share at least what we know. We're an educational show. We're not a legal show. Go seek legal expert guidance and advice, especially if you want to do cross border stuff. Find an attorney, find a lawyer, find an accountant, whatever you need to do to answer something that's very specific for your case, and just believe in yourself because you can do it, because otherwise I'd be Dave. We close the making way. Actually hold on Dave. The making waves mindset show is three. Yes, and we forgot that.
Speaker 1:We could have stopped the show two years ago, if we gave up, you know, it's funny because you, once you dive into the world of business, you start learning about other business owners and their journeys and what they went on. I've spoken to a lot of people who are very wealthy in business and because of business, but they all have stories of the times where they were either going to go bankrupt, yeah, and they were actually going to lose all their money, yeah, and something turned and they were able to make it work. Make it work.
Speaker 2:so that's what you want to be that excess, that success story. You want to have that mindset. You just have to keep pushing forward. You can't, you can't stop, otherwise I'd be like Dave, we're closing the show, I can't be here. That's right. Too hard, it's too hard to struggle. Well, trust me, it's hard. There's been sleepless nights, I'll tell you that. Yeah, but we've already built one business. We're gonna go on to the next. We're gonna make it work, we're gonna figure it out. You got it, dave, are you? I don't want to put you on the spot, but I want to give listeners an opportunity if they're reading books.
Speaker 2:I got a book here. It's called the E myth by Mike Gerber. I have heard about this book religiously, especially in the business space leadership, marketing, money management, lead generation, everything that I think all of you Should be looking into. Michael has created a series of books and it is instrumental on Creating your mindset to be working on the business, not in the business, and leaving yourself, and it could be that next step. Yeah, where the? Where the show, to get you from the nine to five. I've read the book, the E myth there, like I said, several versions, several editions, several special tc's done. Find one, start reading it and understanding the mindset. It is incredible to get you going where you need to go. You need support, and sometimes it comes from the books. It's a good way. So I gotta read that way and close it out yeah, I, I freaking encourage yeah this. You're gonna love this book.
Speaker 1:The last book I read just recently was make your bed. Oh, oh, make your bed. Yeah, it's great book.
Speaker 2:Make your bed spray citrus lemon.
Speaker 1:Iron your crisp white sheets, taking that in my bag, I put it, that put it somewhere. It's so it's.
Speaker 2:I can't, I think it'd be like a, like a mental discipline. That's what I'm getting at you making a bag, definitely yeah, definitely discipline what's.
Speaker 1:So it's a guy from the Navy.
Speaker 2:As Dave finds that, I'm gonna dive back. So we, you know the juices are flowing three years making waves. We completely forgot, but our show, yes, it's been on the making way. We're in season three and we should have announced this in the spring and you know, it wasn't till we were looking at our analytics and our data and I Was doing the editing behind the scenes and I and I look at it's like congratulations, I was like what, and I saw the the first episode when it came out. So listen, thank you all of you.
Speaker 2:We continue to have listeners and followers from around the world. We see from Europe to Asia, to Latin America and North America, all points in between, and it's been exciting. You know we we're not spending oodles of dollars on marketing the show. We just want to share our stuff organically and if it clicks, it clicks. Or, as Dave says, if you don't like it, still share it. Somebody will like it and you know we, dave and I, have to be world travelers. Man, you want us to come down to Deisha, to to your up will be there, will be there to support you and our conference as keynotes.
Speaker 2:You know we'll do something right.
Speaker 1:Yes, I Love Deja, Singapore, great place. So this book it's called make your bed. It's by Admiral William H McRaven, an ex Navy Seal, and it's based on. The book is based on a speech he did and ultimately what it is is a Mindset to get into and an accomplishment. So he talks about Making your bed every day, getting up and making that one thing that you've accomplished, that you, when you get home every day you can say, okay, I've accomplished at least that made my bed.
Speaker 1:So it was just a different way of thinking and Creating that winning mindset. So we talked about mindset a lot here and we talked about, you know, always moving forward, not taking no. He broke it down to Starting your day off by making your bed, meaning you've overcome that one challenge of you. Made your bed, it's awesome. Move on to the next challenge, win that one, move on to the next challenge, win that one, so on, so forth and Continue forward and then, at the end of the day, you can look back and you can say all these little wins, I got to the place that I wanted to get to.
Speaker 2:It's well, we've discussed that a hundred times on the show. We've had so many guests speak. It's the little wins every day that you can look at, that you think are nothing but actually give you the Perseverance and I think I think we get lost in like motivation to a little bit everyone. I need the motivation. Well, motivation is like the gas in a car. When the gas is out and it's finished and you can't move the car, what? What happens?
Speaker 2:It's that little discipline every day of making that bed and again, I haven't read the book, but celebrating those small wins that shows like, hey, these good habits lead to success. So you can't rely on motivation. I've had people reach out why I need motivation. I'm like, okay, I can give you motivation. It's gonna put healer in your head for five minutes, right, what are you gonna do in the phone call ends? What are you gonna do after that discussion? Right, it's those little wins that that Dave's getting at. You have to. You know it and that, dave, for some people might not be making the bed, but it's every morning the exercise.
Speaker 1:Yes, you know it's every day in the calories, every day.
Speaker 2:They're reading 10 pages of a book, whatever it is that you need to do little wins, so yeah okay, dave work on our listeners.
Speaker 1:Find you, find me on, just come find me. Add stretch lab it you can. You define, you define, yet you follow us. Yet that's a good point. Actually plug my plug our businesses.
Speaker 2:Plug it, do it. I mean you built it on the show, right? No?
Speaker 1:I know it's a success story Toronto stretch lab Toronto downtown and now stretch lab Toronto West two locations. You won't find me there every day, but you can come on down for a stretch. It'll really enjoy the one-on-one assisted stretching. And you can find me on Instagram, david a Mosquitz, or LinkedIn.
Speaker 2:You can find yours truly on LinkedIn, richard to be assy and Instagram, richard to be assy. No fancy plugs for me just yet, unless you're in the southern state of Florida soon. All right, everyone. Continue to make waves, dream bigger or dream bigger. Make waves and take action. We'll talk to you on our next episode.