Meeting Summary for FREE ONE DAY WEBINAR

Oct 19, 2024 05:57 PM Eastern Time (US and Canada) ID: 893 7925 1038

Quick recap

The hosts of the meeting, Sherry and Diamond, welcomed participants and discussed their experiences in real estate investing and credit management, emphasizing their focus on helping others build e-commerce businesses and find opportunities to make money online. They also discussed various strategies for improving personal and business credit scores, generating passive income, and finding alternative income sources. The conversation ended with discussions on potential business ideas, coaching opportunities, and the importance of having a good idea to solve financial problems.

Next steps

Shonda to calculate exact monthly income needed to cover expenses and debt payments.

Marcus to reflect on what friends/family typically ask him for help with.

Donna to join the Elite Credit System to work on improving her personal credit score.

Joyce to explore creating an online community/blog for caregivers of elderly family members.

Bill to focus on improving his personal credit score before pursuing business funding.

Bill to consider starting smaller in the aerospace metals industry to generate initial income.

Diamond to email webinar replay and resource links to all attendees.

Attendees interested in business funding to email Sherry for more information on shelf corporations and trade lines.

Attendees to check their email for follow-up information from Sherry and Diamond.

Interested attendees to join Sherry's Saturday personal credit sessions and Wednesday business sessions.

Attendees to provide feedback on the webinar format in the chat.

Summary

Real Estate Investing and E-Commerce

Sherry and Diamond, the hosts of the meeting, welcomed participants from various locations and shared their experiences in real estate investing and credit management. They emphasized their focus on helping others build e-commerce businesses and find opportunities to make money online. The meeting involved a discussion to understand the participants' issues and motivations, with the majority of participants indicating career frustration. Sherry emphasized the importance of having a good idea in solving financial problems. Diamond then asked for volunteers from those who needed extra income, with Marcus volunteering to share his reasons.

Exploring Financial Needs and Side Hustles

In the meeting, Marcus shared his financial needs and plans to go back to school, prompting Sherry to advise him to calculate his monthly income and expenses. Sherry also suggested that Marcus could monetize his expertise by offering services to other college students. The team discussed various ways Marcus could monetize his skills and interests, including selling digital books, offering car detailing services, and providing relationship coaching. They also suggested potential side hustles like Uber/Lyft driving and Amazon Flex. Marcus expressed his appreciation for the team's advice and commitment to attending future webinars.

Managing Debt and Improving Credit

Shaundas discussed her financial situation, revealing her need for $14,895 a month to cover her debt, mortgage, and business expenses. However, Sherry and Diamond clarified that this amount was not feasible, suggesting she focus on paying off her credit card debt and improving her credit score. Sherry proposed a strategy called "velocity banking" to help Shaundas manage her debt and improve her credit score, which could potentially lead to business funding. Patricia discussed her struggles with obtaining credit due to a felony drug charge and her experiences with Chase and Capital One. Sherry advised Patricia to seek clarification from Chase about the reason for shutting down her credit line and suggested strategies to improve her credit score. Towards the end of the meeting, Sherry engaged Donna in a conversation about her business and her aspirations to help women and students.

Improving Credit and Generating Wealth

In the meeting, Donna discusses her desire to improve her credit score and generate wealth through her business. Sherry suggests Donna join the Elite Credit System to help improve her personal credit, which could then help build business credit. Joyce, a retiree with good credit, expresses interest in generating passive income and obtaining funding from Chase. Sherry and Diamond offer to help Joyce define her business idea, suggesting she create a community or blog to support caregivers based on her experience caring for her mother.

Restarting Aerospace Metals Distribution Company

In the meeting, Bill shared his plan to restart his aerospace metals distribution company, requiring $500,000 for a warehouse, forklift, and saws. Sherry advised Bill to focus on improving his personal credit first, suggesting smaller steps like getting a personal credit card and aiming for a FICO score over 700 to secure a business loan. She also recommended considering a shelf corporation and adding trade lines. Bill expressed interest in getting coaching for personal and business credit. Sherry emphasized the importance of personal credit for securing a business loan and mentioned they could help with paying down debt for active business owners.

Exploring Business Opportunities and Funding

Sherry introduced a platform that provides funding and coaching for business development and scaling. Her daughter, Diamond, shared her passion for business and problem-solving, discussing her experiences in college and online money-making ventures. Diamond offered to help others build e-commerce businesses and explore online opportunities. Sherry initiated a discussion to understand participants' frustrations with their careers and finances, with most indicating a level of 6. Sherry emphasized that having a good idea could potentially solve financial issues and the team's role is to help develop these ideas.

Addressing Financial Struggles and Income

Sherry emphasizes the importance of solving problems and generating income. Marcus shares his financial struggles, including outstanding bills and expenses exceeding his income by $2,000-$3,000 per month. Sherry calculates that Marcus needs to make an extra $71 per day to break even. They discuss Marcus helping his family financially and the importance of understanding what kind of help people need. Sherry suggests Marcus aim to make an extra $71 daily, and Marcus mentions having business plans for car detailing and tennis coaching.

Marcus Shares Financial Advice and Ideas

Marcus shared his experiences as a college student, offering advice on financial matters such as saving for rent, paying off school fees, and creating payment plans. He also discussed side gigs and drop shipping. Sherry emphasized the value of Marcus's advice and suggested that he could monetize it by selling digital books or courses. She also proposed setting up referral links to incentivize others to sell or refer his product, generating a commission for both parties. Marcus expressed his appreciation for the advice and his ongoing interest in Sherry's content.

Improving Skills and Exploring Services

Marcus discusses his efforts to improve his skills and market his services, particularly car detailing and tennis coaching. Diamond and Sherry provide support and advice, suggesting additional services like pre-date car detailing and relationship coaching. The group explores alternative income sources like rideshare and delivery services. Sherry recommends renting out Marcus's car or hiring one for his business. Marcus expresses gratitude for the advice and plans to attend future webinars.

Shaundas's Financial Situation and Strategy

Shaundas discussed her financial situation, revealing that she needs $14,895 a month to pay off her debt and build her real estate business. However, Sherry and Diamond clarified that this amount was not feasible, as it did not align with her current income of around $9,800 a month. They suggested that she needs an additional $5,000 a month to achieve her business goals. Sherry proposed a strategy called "velocity banking" to improve Shaundas's credit score and suggested the possibility of obtaining a home equity line of credit to help her pay off her debt. Diamond offered Shaundas the opportunity to join their Elite Business Circle for further discussions on business matters.

Credit History and Business Opportunities

Patricia and Sherry discuss Patricia's credit history, including a shutdown of her credit line by Chase's fraud department due to a past drug charge. Sherry advises Patricia to check her credit report and seek clarification from Chase. They also discuss strategies for improving Patricia's wife's and children's credit scores. Diamond proposes using the Elite Credit System. Donna, a senior woman, expresses her desire to start a business, improve her credit score, and help women and students achieve financial freedom through coaching and real estate. The team discusses the need for coaching in the beauty industry and the potential for ministry involvement.