We were lucky to catch up with The P.O.S.S.E. recently and have shared our conversation below.
Hi The, thanks for joining us today. One deeply underappreciated facet of entrepreneurship is the kind of crazy stuff we have to deal with as business owners. Sometimes it’s crazy positive sometimes it’s crazy negative, but crazy experiences unite entrepreneurs regardless of industry. Can you share a crazy story with our readers?
Greetings! When it comes to business especially in this Social Media age, everyone is loud about their successes, yet quiet about the failures. In most cases, failures are really what propel you to become a better business owner.
One partner is currently a host on Turo and presented the idea for us to purchase a vehicle to create another stream of revenue. Since our first car was doing so well, we decided to purchase another brand-new SUV. Not only would that bring the business more money, but also assist with strengthening our business line of credit. The vehicle was purchased in August 2021 and performed well on the site. Unfortunately, in Dec 2021, the car was reported “stolen” by the last renter with only 8000 miles on it! For 2 weeks, we dealt with Turo, our insurance company and local authorities. Then one day we get a call from Turo saying they found the car – Won’t He do it! Upon retrieving it from a tow yard, it was clearly visible that major damage had been done, but we were just thankful to have the vehicle back in our possession. We were devastated at the amount of money it would take to make repairs and the length of time it would be off the road (3 months in total). The realization set in that we needed to focus on being more proactive so that we can avoid this incident from reoccurring – a car note waits for no one…lesson learned!
For those thinking of entering the Turo space, some advice that we can offer you is to place GPS tracking on all your vehicles! Don’t get so caught up in your bottom line without having systems in place to protect your assets at any given time. Steer clear of the mindset, “that could never happen to me/us”.
The, love having you share your insights with us. Before we ask you more questions, maybe you can take a moment to introduce yourself to our readers who might have missed our earlier conversations?
We are The P.O.S.S.E. and our acronym stands for (People of Substance Surpassing Expectations). Members consist of: Brittany A., Brittany C., Chimere B., Jarvis J., and Ryan H. We are 5 proud HBCU Alum (AGGIE PRIDE!), who came together to fill a void within the community. Our goal is to educate individuals on the importance of financial literacy and independence, healthy eating, and healthy living. We believe by finding balance and incorporating each initiative helps to create a well-balanced, synchronized quality of life. Each member specializes in one or more of the areas listed above.
Our YouTube channel consists of interviews with individuals discussing one of those areas. On our other social media platforms, tips are posted about budgeting strategies, healthy living initiatives, how to get/stay organized, as well as how to declutter your spaces.
Simply put, we are striving to be the change we want to see and not settling for a mediocre life. Each of our upbringings differ some and none of us were born with silver spoons in our mouths, but that doesn’t have to be the legacy for our generation or the next. This my friends is what drives us to strive for greatness!
Does your business have multiple or supplementary revenue streams (like a ATM machine at a barbershop, etc)?
One of our biggest goals is to acquire multi-unit properties all over the DMV/Baltimore area. Aside from pooling our own money into projects, we decided to venture into other areas of interest. As mentioned earlier, Jarvis is currently a host on Turo and presented the idea for us to acquire cars under the business name. Currently, we have several cars on the site.
Aside from Turo, we also sell merchandise (t-shirts, sweatshirts, and pins) to support our message and create wearable visuals for supporters to help bring awareness to our brand.
The goal is to never rely on one stream of revenue to sustain the entire business. If this pandemic has taught us anything it’s to be flexible, creative, resilient, and patient. When it comes to choosing different revenue streams don’t just go with what’s popular, go into the areas that align with your passions. As the saying goes, “do what you love, and the money will follow”.
Can you tell us the story behind how you met your business partner?
We are 5 proud graduates of The Illustrious North Carolina A&T State University. AGGIE PRIDE! You would think we all met and hung together in college, right? Nope.
I (Chimere) had an idea of starting a company that focused on promoting Financial literacy and Healthy living. Before I began asking individuals if they were interested in joining, I prayed about it first. In picking the team, I told God I was ok with a team that didn’t necessarily reflect my current circle. I wanted people who were, if not more, passionate than I was in those areas. Each member is a BEAST in their own right!
Social media also played a huge role in my choices. Their post and how they represented themselves online made me comfortable proceeding forward with the invitation. To everyone reading this, your social media is a reflection of you. Be very cognizant about what you post. Some things may have to stay in the camera roll or the group chat.
Contact Info:
- Website: https://www.wetheposse.com
- Instagram: https://instagram.com/weretheposse
- Facebook: https://www.facebook.com/wetheposse
- Twitter: https://www.twitter.com/weretheposse
- Youtube: https://youtube.com/@theposse5534