Business | Developing Your Core Story 101
Thrivetime Show | Business School without the BS
Clay Clark
4.7 • 1.5K Ratings
🗓️ 18 May 2023
⏱️ 28 minutes
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Transcript
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| 0:00.0 | Welcome back to The Thrive Time Show, have a business question, email us today at info |
| 0:07.3 | at thrivetimeshow.com. |
| 0:09.3 | Oh yes, Thrive Nation, welcome back to the conversation. |
| 0:14.7 | My name is Clay Clark. |
| 0:15.7 | I'm the former U.S.S.B.A. entrepreneur of the year. |
| 0:19.5 | What does that mean? |
| 0:21.1 | It means that my company DJ Connection did really well and at some point I got nominated |
| 0:28.3 | by different business owners, the small business administration, then they said, well, you've |
| 0:34.4 | been nominated. |
| 0:35.4 | I said, that's awesome. |
| 0:36.4 | And then they said, we'd like to audit your financials to make sure that what we hear |
| 0:39.9 | is true. |
| 0:40.9 | And I thought, that's cool. |
| 0:42.4 | And then it turned out to not be cool because that's a lot of paperwork back and forth. |
| 0:45.9 | It's like trying to get a loan app, let's try to get a loan app approved. |
| 0:49.2 | And then it keeps happening. |
| 0:50.2 | Remember, the small business administration is the organization that awards, probably |
| 0:53.9 | 90% of the small business loans out there. |
| 0:56.2 | If you get a small business loan, it's typically called an SBA loan, and that loan is guaranteed |
| 1:00.9 | by the small business administration, which is a wing of the federal government. |
| 1:05.0 | And so I realized, oh no, I might be getting an award from the federal government, which |
| 1:09.4 | means I'm going to be audited, which means I'm going to have a lot of paperwork. |
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