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Find the Hidden Money in AmericaHi there, I am so excited to see all of you on the website. [indiscernible] so helpful in my business, let's get started everybody. "Find the Hidden Money in America" . This is something I am so excited about. Something I think as Americans and people who pay taxes, all these opportunities that some of us don't take advantage of. It has really changed my career and my business. I am so thrilled to speak to you. I want you all to know the statements I express are my own. I am very proud, this webinar is sponsored by Chase in the small business administration. I want to get started. I am Nely Galan , that I am "Self Made" but the truth is I am a small business owner for over 25 years. That ages me but that it's the truth . I started my business very young. The first Latina president of entertainment for Telemundo. Also with Tyler Perry, my own company with over 700 televisions shows in English and Spanish. And I am the founder of the Adelante Movement , to empower Latina entrepreneurs. And when I show up all of my other cultural brothers and showed brothers and sister show up. Last year I met -- wrote a best-selling book called "Self Made" . A manifesto for all . I think this issue of hidden money in America is so important because all of us are always looking for capital. Every small business. It is our biggest issue the weather in the startup phase, survival phase etc. For all of us, cash flow is the biggest issue. The thing that causes stress for all of us. And finding that capital that's required to expand in order to hire additional employees, or by equipment, whatever we need, is the thing we worry about every night. Keeping us from getting sleep. So many of us also wish we could buy the building we are and that we don't have the capital to do so. I am happy to tell you, I wish I had known then what I know now . there is so much hidden merrily the best hidden money in America for all small businesses. These opportunities are out there. I have to tell you, they come in the form of loans, credit. Points on the credit card, grants , incentives. I can't wait to tell you about all of the contracts the government programs, private sector resources. And within the -- not finding out about them we are leaving money on the table. That's why it's so important to talk about this. An entire chapter in my book. I feel like as taxpayers we are not taking advantage of the financial system in the country. That's get going and talk about them. I'm going to show you as I said, I already told you at the chapter in my book. Later on we can go deeper into it. I will tell you ways of getting in touch with me and we can go further. Let's get going. Hidden money in America. Let me tell you my story and my mistakes. I am an immigrant, I came to the country when I was five years old. I am Latina like so money of us the best so many of us that are Latina immigrants . I mated -- made money selling Avon when I was 12. I worked like a dog like all of us . All these different jobs. I was very blessed to get into television early in my life. By the time I was 22, I was a station manager of a little station in New Jersey. That is now Telemundo. Back then it was an independent station. I worked 24 hours a day, three years into that job I found out my station was being sold. I was heartbroken. It was my baby. I went to see my boss and I said how could you do this to me. He said young lady those are my tips. If you want to play get your own tricks. I was crying in bed thinking my little baby is being taken away from me. I decided at that moment I would never work from the best for anyone else again. I would start my own business and I did. I have to be honest with you, for four years I did not make one penny. I had to do side jobs. My parents were freaking out telling me my God, find a husband . Why are you doing this but my friends thought I was crazy. But when I look back on it, I really made a lot of mistakes in those four years. I didn't have a team helping me. I was doing this by myself. I didn't join any organizations, I certainly didn't go on a webinar like this. The biggest thing is I didn't know about hidden money in America . >> I believe to grow your business you need to grow your self first. I am so proud of all of you that you are here listening in. This is what it takes. It takes being a hunter, finding out, participating, it takes being around other people like you to get the information. So thank you for being here. I wish I had done this. How did I find the hidden money in America, after four years of really feeling like I was going to give up. Well finally, I went to a bank and someone said to me there is a Latina banker, she looks like me . I started talking to this small business banker. I didn't understand there was a difference between a teller and a small business banker. That there were specialist in the bank that new all about business . So when I met her, still my dear friend, she said are you doing any organizations. I said no. You need to join the Chamber of Commerce. Join an entrepreneurial organization. Organizations in the entertainment industry. I started cultivating a team. A banker, insurance, all the people I needed to really learn that there was hidden money in America. I took me a while to figure this out. The only thing that saved me was one of my old bosses said to me when I was your age I started a business and it took me 10 years to make money. I'm only at your for, maybe I will get there . It started turning around. I want to show you. I love this slide. Start taking screenshots, I know you will get all of this in the end but this is a very important slide. I found a woman that looks like me. She started telling me what to do. I think that was a game changer for me. She said to me you have got to meet all these other people. So again when you're looking, she sent me to organizations, told me about financial advisors. So I added more help. I had her and the team. I started learning about taxes. I started getting insurance , I didn't realize I needed insurance. I asked a lawyer to meet with me. Real estate, I wouldn't have known about all of these. Little by little people started telling me about government incentives. And about the small business administration. I knew nothing about. So I cultivated a team and I cultivated knowledge that all these people gave me. Starting with this person I felt comfortable with . I don't think a lot of people realize, especially somebody like me, I came from Cuba where it became communist. The banking system failed. How many of us come from places we don't trust banks. For me to find someone that was like me, and she explained to me the system in the country, it was a game changer for me. Through all of those people I started finding out that the hidden money in America lied in this thing called the Golden triangle. I love this. Again if we come to this country and we don't know, the Golden triangle is financial institutions and corporations. I will go into this specifically for you. In the government, and nonprofits and later on in the deck I will show you, we are in a digital world . That is the new part of the Golden triangle. That is where the financial system, all of the money, hidden money, lies in these three places. I really recommend you take a picture and we will come back later so don't worry. Let me explain what I mean by that. Here it is laid out. The Golden triangle. Financial institutions and corporations . Financial institutions help you with loans and credit. They also help you with advice and strategy. This is where my banker that I found was able to fill me in. They also help you with community development financial institutions. CDF I. This means if they are not even ready, there are parts of things they are able to do that they are not ready. They will help you up with organizations to help start you getting loans. Corporations have something called supplier diversity programs. When someone said that to me, it's like is that another language. It means corporations in America have these contracts, if you make your business hold mother business, we can go deeply in this later. Training corporations offer free training. Nonprofit grants through their foundations. And there are shared economy opportunities in this digital age that we will talk about later as well. And the federal government, when we all pay taxes, there is money put aside for these agencies. Small business administration. They have loans for us, business loans and real estate loans for us to buy buildings, that we don't know about. I always find it incredible, when I found out of all the money they have, a small percentage, of people go and apply for the money. You know how much money is sitting there. Federal and state tax incentives. I will go into this but they are like coupons you can use for yourself and your business that most of us don't know exist. I love that one because when I tell people they say are you kidding me . We are not using those incentives. I can't wait to go into it deeply for you. The Department of Commerce. How to do trade in America. So much information. So much opportunity and they don't find out about it. And government contracting. Every department of the government has contracts in every single area that your businesses are in. Again if you apply for these contracts , can you imagine, the scale you can create for your business. It's incredible. And then nonprofits in America advocate for small business owners. They train , they help find your team. They help you find qualified staff and advisors . often times they help you find customers. A lot of times these nonprofits, the people that sign up for these nonprofits that are members are your potential customers. Also nonprofits help you with microloans, grants, contest and the CD FIs that are for profit and CD FIs for microloans that are profit . Incredible organizations we don't know about. >> I hope you getting excited, this is a game changer for you. Okay, why is your small business banker important? First of all remember small business banker, different than anyone else in the bank. They are an expert. These bankers, just like my like Tina that helped me -- Latina that helped me cut Tina. They can advise you of all these options in the bank. They can put you in touch with CD FIs and additional micro lenders. So there is no too little, no to large, find your small business banker I really want you to see the value of that relationship . >> So what are all the different things I didn't realize either when I started? That a small business banker can connect you with. Lines of credit. I didn't know what a line of credit was . I'm a TV producer, I don't get paid until the TV show goes on the air. They give me like 10% upfront. And sometimes the TV show, it can take months. I really thought in the beginning of my career, how do I do it. What will I do? Irene explained to me that lines of credit are incredible. You have to take advantage of business opportunities as they arise. As you note sometimes business opportunities arrive quickly and you have to be ready to go. I will let you read all of this. Access to funds. Revolving line of credit. You apply early so it's waiting for when the opportunity arrives. You can get lines of credit ranging from $10,000 and above. Business term loans to pay off a significant purchase over a longer period of time. You can choose fixed or variable way the best rates. Flexible terms, and again these are $10,000 and above. Something I had no idea existed . And business credit cards. I never knew that the rewards program , you can choose now there so many credit cards available. Cash backs, travel credit cards, gift cards and experiences. I use my points in order to fly my employees or upgrade my employees. All of the stuff I use saves me a lot of money, especially when I'm going through a difficult clash cash flow time . And the online tools that credit cards offer to manage spending, including employee spending , to see how you're doing. Let's keep going. Here this gives you a big idea of business credit cards and what they can provide. Cash flow management. I use it now all the time. Convenience and control. It allows us to charge different things on different cards to manage expenses. Service and security . a lot of things I was paying for separately that I didn't know was included in the card. And the rewards that really allow you to also better travel and other things and treat your employees as well in a way that doesn't cost you cash. I'm gonna go through this pretty quickly. I want you to look at this. You can always come back and really look at this carefully. A business card can be useful to cover short-term expenses while retaining cash. They help you maintain immediate access to credit. They manage fluctuation in cash flows with your business seasonality. They address emergencies and unexpected expenses. And they can lower cost compared to paper check disbursements. And they can leverage card terms, extend payment dates, a.k.a. payment float . These are things you can see that you can manage better through a business card. By the way, this is my holy Grail. >> Also service and security. I have to bring this up because a lot of the stuff on the customer service, fraud monitoring, domestic and international travel assistance. All of these things listed, consumer protections, zero fraud and extended warranties. Auto rental collision damage waiver , how many times we pay for these because the card covers it. We don't realize it. Insurance and reimbursement, tramp cancellation insurance -- trip cancellation insurance. Now I know and I understand my credit cards inside and out. And use them wisely as part of my budget . Let's keep going. Hidden money additional funding options. We already talked about how your small business banker can help you access hidden money with other financial , nonprofit and government partners. I don't think I knew this either. You can get them to help you find them. They can help you find a community development financial institution. They are known as CDFI's . These people are 100% dedicated to delivering responsible and affordable lending to you. You might be sitting thinking I'm too small, I don't want to talk even to the banker. You don't realize this exist and they will help you. These people can finance small business, micro enterprises and commercial real estate across the nation. Many of them are profitable , some also nonprofits did their job is to really be good to you. They don't want to make money off of you, they want to be a choice for you in the beginning stages of a small business. There are CDFI banks, credit unions, loan funds, venture capital funds. And Chase recently has committed $75 million as part of their small business forward program to facilitate access to capital seating of new funds with trusted CDFI partners such as axion . I work with them closely conjured 48 development fund the best the Detroit development fund, lift fun, and pressed almost. Okay. Your small business banker can also help you connect with other lenders to the responsible business lending coalition. Right all of these down. The B BOR. A bunch of organizations I didn't know about. That you should know about . Nonprofits and organizations that can fund small business owners. Again we mentioned [indiscernible] the Aspen Institute, funding circle, lending club, opportunity fund and small-business majority . Here is a website of a place you can find all of them. Don't worry, we are recording this and you can come back and watch it 1 million times. Www. . Let's keep going. Let's get into the SBA. I love the small business administration. Your small business banker can introduce you to SBA loans. A big thing I never knew. I would go on the websites and say it seems so complicated. How will I speak to the government. Forget about it. The SBA is only a guarantor of loans. You are not a lender. You go to your bank, it's an SBA loan through your bank. For most entrepreneurs the SBA's a great option. So many times it goes unused. And where do you begin? Small business banker. Tell them you're interesting interested in an SBA loan at the bank for you. It is not so complicated . That they're going to tell you, your small business banker will show you the benefits of an SBA loan. The SBA's primary goal is to help qualified small businesses obtain financing when they might not be eligible for regular business loans through normal lending channels by guaranteeing , the SBA guarantees, part of your loan. That gives you an advantage in getting the long. They provide additional financing opportunities for businesses that may be highly leveraged. That might be short on collateral. That have other identified weaknesses that may not allow for conventional financing. People, this is why you are an American . This is why you pay taxes. The SBA is there, this is one of the benefits of being an American. And benefits. Longer maturity on term loans. Lower equity injection. Easier to qualify for than conventional loans. The proceeds of the loan can be used for a variety of things that normal loans don't allow. And the SBA guarantee fees can be financed into the loan. Incredible, incredible, incredible. We have to take advantage. I love to say, what I say to a lot of the women, don't buy shoes, by buildings. Here is the story , I feel like so many of us are so Billy busy running businesses, financing businesses, that we don't realize that so many times the building you are in can end up being worth more than your business. In my case I have to tell you, I bought my building my business was in. I bought a lot of little buildings around it. I needed more space. And today, my buildings are worse -- worth five times what my business is worth. I want you to listen to this part. I bought so many of my buildings with conventional loans at first. I didn't know there were SBA loans for my building. Can you believe that. Now I'm in the middle of buyout of another building. The SBA is an incredible program. They have low interest rates and less money down than a conventional loan. You can also include the cost of remodeling the building in your loan. So to me, I plead, I am adamant about this because what would have happened to be if I hadn't bought those buildings. Go to your small business banker and asked them about small business real estate loans that the SBA could have for you. Please. This is important. Let's keep going. So I want you to know , what you need to do, I hope you are hearing, you do not have to be alone in this journey. We need help. We need the team I showed you. You need to reach out to your team for help. Number one, review your business case and financials. Listen and give feedback on your pitch . Something your small business banker can do and all of those other people on your team. They can help you find a lender that's right for you. They can help inform you about all this additional money in America. Arch you blown away this exist. And there's more. >> So here, small business development centers, resources carrying this information. They work with the SBA. Service Corps of retired executives. SCORE , it's very important and they are helping us here now. Business centers, places for women to get certified. How to fill out paperwork. The WBC. So much we don't take advantage of. Let's keep going. Remember we were talking about corporations, supplier diversity. This is a proactive business program which encourages the use of minority owned, women-owned, veteran owned, LGBT owned, service disabled veteran owned, and all kinds of suppliers for corporations. This means corporations use people to do everything. Make videos, printing, accounting services. Corporations , so much of what they do is outsourced. Why are we going after those contacts . This is a great way for company to scale their business and find money. Most supplier diversity programs however require that you become certified as a minority or women-owned business. Guys if you're out there alone, get a woman on your team. A multicultural woman is better. Hearing some of the resources, the women's business enterprise national Council . The national minority supplier development Council. These are organizations that will help you become certified . They will help you find out more. You can also Google supplier diversity. So much comes up. So much help. And then all the doors start opening when you start googling. Okay. I would be remiss if I didn't tell you, I will not go into this deeply right now. This is a home other webinar. I would be remiss if I didn't say shared economy in the digital age. There so many ways and so much more hidden money. Crowdfunding, kick starter , go fund me. You can go and pitch people directly, or become members of the company to give you money. You can reduce overhead , bill shark and card pool. Go on those websites. Amazon, eBay, Craigslist. Places where you can sell inventory or by the buying supplies and all kinds of stuff. The points guy. And points with a . You can manage all of your business in a better way and get knowledgeable about everything you can do. YouTube and social media, hidden money , freeways to promote your business . Again this is another webinar , I'll have to do another one later . But I have to give you this information . So you can think in a bigger way . Keep going. There are many grants and contest every year inside the following organizations. The government agencies, the SBA. The Department of Commerce. Contest, all kinds of grants. Chambers of commerce . Professional organizations. In your industry. Fortune 500s and nonprofits . These people all have competitions that if you enter, the money you receive is neither equity or debt, it is free. You get it and you can scale your business with free money, all you have to do is Google all of these contest . >> I don't have enough hours in the day to tell you all of this. Again we will do more webinars and go deeper. It is important you hunt down these opportunities. Again go back to your business banker, the team. The team knows where all the money is. Okay. Let's keep going. Even more hidden money. This has got to be my favorite. Every year around August, the federal government and states create tax incentives for industries that need a boost. Think of this as a coupon. They are doing it, again your tax dollars pay for all of this . Think of them as tax coupons that allow you to buy things such as cars, equipment for your business, computers. Then they give you a tax deduction or a tax rebate. I plan all my purchases every year for myself and my business based on these incentives. I bought an SUV two years ago, when the government was putting out a 75% tax incentive on certain SUVs. Can you imagine I got 75% of the money of my car back on my taxes . Most people don't know these exist. I think this is the juiciest hidden money in America. Please , Google. Federal tax incentives for the year you are in. I bought turf from a house, a drought in California . A tax incentive. Another big one . If you have heard anything today, let's go hunting for the hidden money in America. Again please take a picture of this page. I know I have to bring you more webinars. There could be a webinar for each one of these to go deeply in each one. Today I wanted you to have the general overview so you can see that we are all sitting on so much money. It starts in your own home. Really. Think of all of those gift cards you have in your home. All of the things in your home you could be getting rebates for. And all of this, to tell you we do waste so many opportunities that are out there for all of us. I want you to know they are all here. Limit keep going. Let me keep going. I want to recap. Where do we begin the hunt? I hope you learned that your first stop is your small business banker . Who is an expert on everything I mentioned. That's how I heard about it . Let them open the doors for you. Don't go running around like a chicken without a head. Let your small business banker open the doors for you. Find somebody you are comfortable with. If you have one already, get them to work for you. Let them open the doors for you. If you don't have one, begin with someone in your bank that you feel comfortable with. Ask for somebody, for me it was somebody like me. A Latina like me, a dear friend. For me the small business banker is a business therapist . They will help you find the Golden triangle of money. The financial institutions and corporations, the government, nonprofits , where there's hidden money in America. I want you to look at this resource page. You guys can reach me as well. I know they will send you a follow-up email with all of these resources. You know I started the Adelante Movement . You can run to your small business banker. I want to make sure we leave a lot of time for questions. I know you will all have a lot of questions. And again I am so sorry, I can't go deeper. We will give you more webinars, ask for them and we will go deeper. But I hope you go back. I really want to go back to this page. This is your holy Grail page. This is what most people in America don't know, what I didn't know. So I want you to now open up the lines and start asking questions. Because I want you to be able to get as much information as you can. Thank you so much Nely . We will now start the Q&A portion of the call. I will read the chat questions that have been sent in. Everyone please continue submitting questions by using the chat function. Also note, if I don't have time to get to your questions, we encourage you to connect with a score mentor after today's webinar. Mentors are available online or in a chapter near you to help you apply the strategies presented today. With that let's go ahead and jump into the questions. Nely the first question , what if you are starting a business and you don't want to start out with giving the best getting a loan in the first few stages. What sources. Let's go back to the page we were on that has all of this money. Act to this. The part where we talk about these contest. For you if you want to start and you're not ready for a loan, I think everybody that starts should go after the grants in the contest. The grants and the contest are very important. It is free money. It helps you get started. And regardless, wherever you begin, I don't want you to do even this part alone without talking to your team. The page in the front is very important. Let's go back to it. Without a team you're doing everything by yourself. You are doing things not in a masterful way. Why do we always have to call him -- climb a mountain the hardest way. Go back to people and look what they are doing. Look at this team. Cultivate a team and knowledge. Go to all of these people, small business banker. Are you going to go crazy finding these places where there are contest . Find your team first. Then methodically do the next best thing, start with the contest. Then you see what your company looks like, in a contest. Then go to the next level. I hope that helps you. Next question from Denise. I am not a nonprofit business but my business is providing financial advice to the working poor. Can I tap into grants ? Symantec of course you can Of course you can. You would be very eligible for grants. There are nonprofits and foundations at Fortune 500, that every year give away a lot of money to people like you. In your case I would begin with the Fortune 500 , Google Fortune 500 and look at that list. Again that list will have all of their foundations. If you go on the foundation website you will see there is money for you. Again, you can go about this in an easier way even if your nonprofit . You should have a banker . Nonprofits should have their small business banker. You are running a business. It just happens to be nonprofit. Again you need this list of all these people. Don't think because your nonprofit you don't need a team, you do. Next question, I have a small business and don't think I'm big enough to get attention from anyone. To find in it hidden money. This was my dilemma as well. This is why I wasted four years of my life without getting a team. Because I think I'm not enough cannot big enough. You are big enough. You have to find a small business banker that will not judge what level you are at. And it's never too late to begin. But begin now. You deserve a team. Kobe Bryant has eight coaches. And he says mom you deserve a bigger team. I do. Think how much money we spend on tutors, things for our kids, yet we don't deserve a team. This is a team that will not charge you in the beginning. Everybody thinks I can't get an accountant, I can't get a lawyer. Everybody will meet with you for free to get to know you as small as you may be. But it all starts with your banker. I'm telling you if I had not met Irene I don't know what I would have done. Your small business banker that you feel comfortable with is the starting point. Even at the very beginning. The next question from K. When I go on all of these websites I am still very confused about how to get started. What should I do ? I don't blame you, it is overwhelming when you go on the websites. And by the way that is why I think SBA and all of these people have organizations like SCORE . And [indiscernible] all of these organizations on the resource page. They help you navigate these things. They help you fill out forms that they help you search for what's right for you. Again why do we do everything by ourselves? I think entrepreneurs like to suffer and we don't need to suffer. We can work smart and not hard. Smart means asking for help and getting help. I will go back to the resource page so you can take a picture of it. All of these groups, Nely Galan, the women's business Center, small business development Center . They help you do this in an easier way. >> [no audio] Next question from Mark. Can loans under $10,000 be acquired and how ? Absolutely. Again this is where you go to your small business banker, show her or him what is going on in your business. And they will guide you in the right direction. That's go back to the page where we discuss that. Because the bank can tell you if it's something they can do. If it's something they cannot do they will connect you with, you go to the page we used specifically, take a picture of the page, the CDFI. Developing financial institutions are these people that can microlens to you. Some very small amounts of money even, under $1000. It starts very low. So there is no loan to small . It may not be a traditional bank but the banker again, that person will guide you. Why, when you grow if they help you find the organizations, you will eventually end up with a loan from that bank. They are there to give you customer service . We forget to use customer service in the digital age. There is customer service available for you. This page is the one that answers that question for you. Okay. Next question from Dana. What do you mean by service and security via credit cards. Okay, let's go to that. Service and security. The credit card piece. Very important. I get excited, just a moment. I think there are services again, different credit cards with different options. Right. >> Here we go. No, the credit cards. Anyway, what it says, each credit card you have provides different services right. If you don't know what the credit card you are getting, what is included in the fee of that credit card. What is included by having that credit card. You are sometimes buying things or spending money on things that are included on your card. In this page, that's what I mean you really have to ask your small business banker what are all the credit cards that are available and what do those credit cards offer in terms of things that you don't have to pay for separately. Go back to these few pages and looked deeply. And again go back to customer service . Get someone to come in and show you all the different credit cards available and which ones work best for the needs of your business. Our next question, Nely you mentioned corporations offer business training to small businesses. Where would one start to gain access, what department would likely be able to help? The easiest way to do this as well, is go into the supplier diversity of any corporation you are interested in. Under the supplier diversity website, usually they are the ones that manage training. They will show you incredible opportunities and training they have. I can mention there are corporations like Walmart, Coca-Cola, they have their own universities on their website. That teach you anything you want from getting a job with them to being a supplier to them. To training and all kinds of areas. I just mentioning to because they come to mind. But again in the Fortune 500, there is so much on the website. That you can Google and even say a specific company, training and it comes up. If you want customer service, go back to your team . Your team knows the answer to all these questions. Start with your banker. I love my Chamber of Commerce. I do a lot of work with chambers of commerce because they hold a lot of information for you. Where all this money and all this training, with the nonprofits in your local town or. Start micro and go macro. Start with the community, with our town , with our city, with our state, then the national. >> Okay, next question from Wanda . When applying for an SBA loan, what does the credit score have to be? I really can't answer that because of the changes. I know it is different for different people in different ways. Again I guide you to your small business banker. They can fill you in, it also is different state-by-state. What are the small business loans today and what is the credit score . I can take you an SBA loan is much more flexible on credit score. Again going back to that page. If you feel you have a weakness, and Achilles' heel, the SBA is the way for you. That's what they are there to do. Your taxpayer dollars do that. It created this agency that helps people that are disadvantaged in all these different ways. So look at this page carefully. All different ways they offer you. If you're having some of those issues, this is the answer for you. Go back and speak to your small business banker. The next question from Stephen. How early in your business enterprises did you engage legal help and a professional accountant? How much did you do your self? Again, I would say this is my big boo-boo. I waited four years. Don't do what I did. I could've been more successful quicker. I now realize accounting is very important. We are very lucky in today's age, things like QuickBooks that can get you started on your own. A simple version of QuickBooks and then a more complex version. But I would say to you, obviously if you are very proficient, getting an online like QuickBooks and getting started. I feel like for me, the minute I started investing what's was in my fourth year which was a mistake I would've done it your one. I started with bookkeeping. It's so important. You start organizing, a way of thinking, of organizing your business , your expenses and all of that. A lawyer. Again we are very lucky in today's age for things like LegalZoom. And many other versions of LegalZoom. You don't have to start with a lawyer day one. But you can start with an online help like LegalZoom , that offer legal assistance for free, that allow you to get your LLC for very little money. They tell you are you ready for a corporation, or for an LLC. I love teaching this. I think the sooner you have a team, and again, you don't have to have a $500 an hour lawyer. You start small. It's better to get help, start with the team. You can call a lawyer and have a meeting and say can you give me one of your legal assistance for starters. Or call an online resource, in the digital age there's so much opportunity. Again your Chamber of Commerce. Your small business banker . All people that can help you with this. I recommend, I'm a big believer , start with the team. Why do not deserve a team. You deserve a team even at the smallest and simplest way, begin day one with the team. Okay, next question . Is there financial support for crowd sending campaigns for profit . Yes. Crowdfunding is away, so fabulous. It's really going to your customer. It saying I have this product. In my business of television and film, talking about movie funding. I recommend you go on the sites I've mentioned. Let me go back to it. You will see some people offer a piece of the business to the people that give them money. Some people say you have to be a member for my thing and when I launch my company you get to come to the party. It is so egalitarian. It is amazing what you can ask, you can say I need $50,000. In the first hundred shoes I make will go to you. It's wild. You can ask and give back to your sponsors whatever you choose to give back. You would be surprised how many people will invest in you. It's a beautiful way to start. Also a beautiful way to see if your product or what you offer is resonating with customers. It is a great way to market yourself. I say go check it out immediately. Okay, Brenda ask, would you hear about the tax incentives. My goodness. Tax incentives are the easiest thing in the world. Literally right now Google federal tax incentives for 2017 . If you see they are not out yet, they usually come out in August. Then Google federal tax-exempt tubes for 2016 -- Google tax incentives for 2016. Lookup whatever state your friend . Right now I'm in Arkansas. Arkansas tax incentives. If 2017 doesn't come up, because they haven't been decided on, what you do is Google 2016 and start looking at what they were. You will not believe, you will be floored that you haven't found this before today. Next, do all banks offer small business loans? >> You know I don't know if that is the case. I cannot say for sure. When I can tell you, you can go to your bank and ask for the small business banker. And if they don't have a small business banker they don't have a small business loan, how is that. Pretty logical. I think the number one thing to do is go check out your bank and ask for the small business banker, the expert all right, what specific ways can the local Chamber of Commerce help quick I'm so glad you're asking that the Chamber of Commerce was something very big 20 years ago. People used to know about them. For some reason, in the digital age we have forgotten the value. It is like another, it's like hitting the lottery. Number one, all the businesses in your community go to the Chamber of Commerce. You will not leave it. The not believe it. You will go there and go to events and mixers, and that list I showed you of all the people on your team. The people in your neighborhood and your community that could be on your team. In addition to that you will find incredible ways to market your business. If you want to find staff, you will meet people there. If you want to find out where there are contest in your neighborhood, fundraisers , things for your business, beside your small business banker, that is a next stop. A must do. A game changer for me. I would not have known of if my small business banker hadn't told me. Now if I tell you you will think I'm insane. I belong to so many chambers of commerce all over the country. Because it's incredible. What it has done for my business Okay it looks like we have time for one more question. Oh no. It goes fast. What are the tips you would suggest to make the transition into working for yourself. Are there top mistakes you have made and that transition? Yes. I think back number one, I left my business, working for other people too soon. I think while you work for other people, you should cultivate an ownership mindset. You should think this is my business and what would I do if this was my business. I think our own businesses should be cultivated [indiscernible] check it out first and have it be a hobby you start one hour a week working on it. See if it really connects with you totally. I think when you are ready to get your first client, and you've had two years of money saved, because I think one year has to be for an emergency and one year is the year he you invest in your business. Then you go. That's what I would've done differently. I suffered unnecessarily for four years. Made a lot of in the state -- lot of mistakes. Entrepreneurs we are very smart people, and we don't give up, we hang in there . But I think there is a way to work smart and not hard . To launch your business in a more methodical way. I like to say I am a turtle. I don't do anything fast but I do it methodically. I complete everything I began. That is a good lesson for any entrepreneur. Okay. Nely those are all the questions we have time for today . Ladies and gentlemen on behalf of Nely Galan I would like to thank you all for attending today's SCORE live webinar. A brief survey will launch at signoff. We would appreciate if you take a couple of quick minutes to complete the survey, tell us your thoughts and suggestions. In closing, a big thank you to Nely Galan . I would like to thank SCORE because of all the work you did on behalf of entrepreneurs. I appreciated . Chase, thank you so much, SBA I love you are dare for us. And remember if you need to reach me, [indiscernible] Adelante . Thank you also much. I love all of you. I want us all to succeed . Wonderful, have a great day everyone. We look forward to seeing you next time. Thanks. >>[Event concluded] ................
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