We caught up with the brilliant and insightful Legacy a few weeks ago and have shared our conversation below.

Alright, Legacy thanks for taking the time to share your stories and insights with us today. We love asking folks what they would do differently if they were starting today – how they would speed up the process, etc. We’d love to hear how you would set everything up if you were to start from step 1 today

If I was starting over there are 3 essential moves I would make that would get things done faster and more efficiently. These 3 moves are a great model that will work for most entrepreneurs regardless of industry.

First, I would have started as an LLC instead of as a Sole Proprietorship. Keeping your business and personal assets separate can not be truly done if your business is a Sole Proprietorship. If you are sued and found liable in court then your personal assets and wages can be seized and/or garnished until you have enough liquid capital to pay the amount ordered by the court. However, with an LLC the only things that can be seized are assets that are owned by the business that is listed on the court documents. There are numerous tax and funding benefits that come with an LLC as well. This formation makes your company more attractive to angel investors, banks, credit lenders, etc. (Bonus: if you truly want to get funding from any source then make sure you have a proper business plan done which should be about 15 to 20 pages long)

I would do a better job of managing my finances i.e. managing my personal credit to leverage it into business credit, better bookkeeping, paying myself, etc. I can not overstate that you can have a billion-dollar vision but if you do not have the right accounting and bookkeeping then you will never see a penny of it. Learning how to leverage your personal credit into business credit is one of the best ways to scale up your business exponentially while minimizing your own risks. It is almost always best to run your business with OPM (Other Peoples Money) i.e. banks, investors, grants, loans, etc. Credit matters and the better your personal credit score is when you first start a business the more likely you are to get a funding source that will invest in it. So many entrepreneurs are so worried about taking care of everybody else that they forget to take care of themselves. Regardless of what business you are in, all businesses are built with one common theme and that is to make money. The reasons for wanting to make that money may be different but a business needs capital in order to thrive even if that business is a non-profit. There are CEOs of non-profits making 8 figures a year and their non-profit is thriving as well.

Last but not least, I would enjoy the journey and steps it takes to achieve my visions, goals, and achievements and not just grind until I get there. This part is the most important and yet it is the most overlooked. It is ok to pat yourself on the back and toot your own horn. You must celebrate your achievements no matter how small they may be. There is somebody watching you that is going through something and your story can inspire them to be greater. A lot of entrepreneurs have created optimal success by sharing the ups and downs of their journey as it happens. Entrepreneurship is a roller coaster so you have to remain just as focused when you are up and when you are down. You never know who is watching. Whether they are rooting for you to succeed or rooting for you to fail, you must only concern yourself with proving yourself right.

Legacy, before we move on to more of these sorts of questions, can you take some time to bring our readers up to speed on you and what you do?

Fun fact: I started my first business when I was 11 selling candy (D’s Sweet Shop) in the neighborhood. My first name starts with a D which leads me to my next fun fact. My real name is not Legacy, it is a pseudonym. Back in 2012, I was on active duty in the US Air Force and used to perform some of the poems I had written at local events near the base I was stationed at. Most other poets at the events had pseudonyms and I was tired of being the only one that used my real name. I decided I would come up with a name so I thought hard and it came to me that my ultimate goal was to leave a Positive Legacy behind that would live far longer than I will.

Interestingly enough it was at these same events that I first started taking pictures and found out that I really liked doing photography which I have turned into a successful business that I am truly proud of. It will be 9 years in October since I started my photography and videography company Positive Legacy Ent.

I am all about giving back and I try to do it as much as possible in my own way. I have done a lot to help others behind the scenes that most will never know about. I have had numerous people thank me for helping them and I don’t even remember doing it because it is natural to me because it is how I was raised to be. I understand that God blesses me so that I can bless somebody else.

Have any books or other resources had a big impact on you?

The one thing that is the most precious form of capital in the world is time because it is the one asset that you can not accumulate more of and you do not know how much of it you have. I said that to say that you have to use the knowledge that is available that can help you scale your business faster and more efficiently. I personally have a lot of obligations and relationships that I have to manage that all require time. First and foremost, I have my relationship with God whether I am praying, fasting, going to church, speaking at church, etc. Secondly, I have my immediate family which is my wife, Allison, and my daughter Gianna who both require time that I make available to them as much as I can because I want them to know that they matter to me and I do that by giving them my time. Given some things I went through in my life I make sure that I am a present husband and father. I also make time for friends/family and my job as well. I make time for my business and most importantly I make time for myself. The point of all of this is that I do not have a lot of time so I actually listen to a lot of audiobooks because I am in the car, around a computer, or on my phone a lot. Some of the books I listen to are more inspirational and others are specific to one of my current business industries or a business industry I am wanting to get into. I also listen to podcasts as well with my favorites being Earn Your Leisure and Wall Street Trapper. One of the best quotes I ever heard was from serial entrepreneur and multi-millionaire Holton Buggs when he was speaking at a conference I was doing media coverage for. He said that he built his millions with a 10% success rate meaning that 90% of his businesses failed. That quote inspired me and taught me to keep going no matter what because there may be 9 nos but that’s ok because the 1 yes (10%) will be life-changing. So never give up and never give in.

Do you have multiple revenue streams – if so, can you talk to us about those streams and how your developed them?

I do have multiple streams and I believe that all people especially entrepreneurs should have multiple. A lot of people had to learn that lesson via the pandemic after losing their single source of income. No matter how large it is, 1 income is too close to 0 for you to truly be comfortable. If Bill Gates can get fired then so can you. The Bible also speaks about this as well in the NIV translation of Ecclesiastes 11:2 which says “Invest in seven ventures, yes, in eight; you do not know what disaster may come upon the land.” Long story short it is saying you should have at least 7 streams of income. I have my photography/videography company, my massage therapy business will be opening up this year and, I have started investing in other small businesses. I also have several other businesses that are in the works that I am not ready to discuss with the public just yet.

I am a big proponent of advocating for sharing information that can help. This particular information is for any women that are looking to be entrepreneurs but they may be afraid because there may be no other women in the industry you want to go into. A lot of women talk about being a Proverbs 31 woman but haven’t truly studied what it says. Verses 16, 18, 24, and 31 not only talk about women being entrepreneurs but highly successful and celebrated ones. Also, in verse 23 it says that her husband gains higher stature with those in power/leadership. My word of encouragement is to keep pushing and breaking barriers because somebody has to be the 1st and why can’t that somebody be you.

Contact Info:

• Website: www.positivelegacyent.com
• Instagram: @legacyent
• Youtube: @positivelegacyent