my name is Gary Shotton and I’m going to talk about a subject that is going to face pretty well every business owner guaranteed you’re going to be viewed by others is the guy with all the money and since you’re the guy with all the money there’s going to be certain people to figure since you’ve got all the money and I have a need you need to help me with my need and you’re going to have to figure out how to work through this in your own way I’m going to share some of my experiences and how I’ve dealt with it and hope that helps you but there’s no magic answer for every situation now face the facts that people will be coming to you now the way you respond is going to be crucial many times down the line the way you respond this time is going to put in motion the way you respond next time and the way others see that you respond let me give an example somebody present the need you pull out a hundred-dollar bill and you hand it to hey no problem here it is guess what those situations are going to gravitate to you because the words going to get out they’re going to have another need more than likely and their friends are going to have a need and you now become their reserve cash account there you’re the person that you they can always go to so you can’t become the person that responsible for every person’s financial situation number two you cannot become emotional in this whole process there’s going to be a horrible situations there’s going to be situations that that are just beyond measure that would be tempt you to be emotional remove emotion think it through if there’s somebody has a tail spin or alva out of control and they need money right now it’s probably no because they need unfortunately they need to learn the lesson that you’re not the reserve bank bank account and but I’ve learned that there are a few things in ownership I can understand that would come to a point that I step in and help in a need the three things in our company that I help with is when it’s involved their personal housing situation I have helped a few people buy a house I don’t cosine but on a month-to-month basis most people have rent well I’m not going to become their rent every time but under certain search circumstances i will consider if it’s a housing situation number two food you know if if somebody’s not able to come to work and they’re hungry now when my business right now that’s not the case but my previous business where i had a moving and storage company i’m telling you we were not paying top dollar and we were not getting people that were accustomed to having a whole lot of surplus and and making it for groceries from payday to payday was difficult so we handled it different ways but if i start rolling out extra money every time giving them an employee advance for every little thing they need first of all it’s in an accounting nightmare and second of all you’ve created a bad habit at one time i just went to the grocery store and I wasn’t the best meal but I got a couple loaves of bread this is back when I had a moving and storage company and I had him dick get some good old Bologna and some cheese and I had to cut the blown a real thick and Bologna real thick and I had a whole stack of Bologna where you could make yourself a couple bologna sandwiches and take them out to the job because we had people going out away from our place they didn’t have money to go to the restaurant by the way one of the most expensive ways for someone to live when it comes to food is buy it from the restaurant so somebody’s going to the restaurant every little bit I need to train them that they can buy some groceries some cheap groceries some macaroni and cheese like I have in the past and and eat a lot cheaper now the third of course I said housing I said food and the other ones transportation I don’t go by people cars I don’t pay their car payment I’ve had people that had a situation where they really had a need and I said listen I don’t have the two thousand dollars I can’t do that right now but I’m going to actually give you two hundred dollars I did that and I want to make that seed money so that you can get the rest of the money from someplace else I’m not going into loan I don’t cosine I don’t cosign for people and I don’t sure don’t buy cars for people so those are the three areas that I personally have kind of come to become comfortable doing but always with the understanding that if I’m creating an atmosphere and attitude and expectation that I am their spare cash account then I cut it off right then so it’s usually when I make an advance on some of these I said listen this is the advance i could do at this point or this is the loan i can give you at this tony point but this is pretty well the only loan you’re going to get for the rest of this year or the next six months so don’t know i can be polite and make it clear but i make sure that they’re not coming to me as their source now let me move just a little bit you know that you listen very long at all I have a spiritual twist to what I believe in and I press the Almighty God for my finances and I believe that one of the reason God has trusted me with his finances and that’s how I view it is because I am trustworthy and if he can trust me he brings more into my my my storehouse not for me to buy a bigger house in a bigger a better car but to be responsible for what he has to help people I’ll make that analogy to bankers you know bankers when you go to the bank and I have some bank loans I’m trying to pay them down to zero i’m trying to be debt-free on this entire company i’m on track might take a couple three more years but starting where i was i feel real good about it over the years and but the banker will look at very closely what is the way you handled the money we have given to you in the past obviously they have a record of my payback history on any loans i had reason to check my personal credit score i hadn’t done it probably in five years I had no reason to check my personal credit score let me tell you what popped up with some friends were setting with me and I did what it was going to be I was real proud of it I was really proud eyes within but within 30 or 40 points of the absolute highest score you could possibly score in the 800 series so that says my history has been good that says on a people relationship I have pay history that says that the bank can trust me that says that God can trust me I’m not perfect oh I’ve made mistakes don’t they ever give the impression I’m perfect on any of this you know how you how you learn most things you make mistakes i like the little story where the reporter new young reporter came to a really wealthy quiet guy that owned this big factory and the guy didn’t talk very much and the reporter was assigned the job to go out and and and make a news report of how is this guy successful so the reporters young guy he’s out there and the guy he was interviewing they are and he wouldn’t talk very much and so man he’s just prying out questions short answers and finally says what has made you successful and the owner says good choices oh man the reporters good how you don’t tell me that how did you learn to make good choices in the owner of the businesses bad choices that’s how he learned that’s what you’re going to learn I hope you enjoy these series hope you enjoy tuning in share these if you would appreciate you being a part of it thank you