The Power of Boundaries: Building a Startup and Raising a Special-Needs Child with BIFI’s Shante Duffy

0:00 Speaker 0: This episode with shantae Duffy of WiFi loan Speaker 0: servicing is really good. Speaker 0: Shante was on episode six, I believe it was back in the day. Speaker 0: And we in that episode, we talked a lot more about her personal backstory. Speaker 0: In this episode, we talk about how she's able to Speaker 0: juggle being a single mom of a special needs teenager Speaker 0: almost teenager, Speaker 0: as well as a co founder of a startup, by Speaker 0: fi loan servicing, and how she's navigated the last few years, Speaker 0: how she had to step away from WiFi for a brief period of time Speaker 0: to do a personal reset and work on herself, Speaker 0: create boundaries, create plans of action to address different Speaker 0: areas of her life.

0:48 Speaker 0: And Speaker 0: we really walk through a lot of the trials and tribulations that frankly, Chantaine Speaker 0: and I have both faced on some level with regard to WiFi loan servicing. Speaker 0: I am, the CEO of Bifi. Speaker 0: So I have some pretty intimate knowledge of the the company and Speaker 0: how we've rebounded and how we're on an fantastic track for the future, Speaker 0: and we get into that at the end. Speaker 0: So the if there any questions about whether Chantae is is gonna leave Speaker 0: Bifi again. Speaker 0: I think she puts those questions to rest, Speaker 0: during this episode. Speaker 0: But, man, for for the single moms out there, for the entrepreneurs, Speaker 0: wanna be entrepreneurs, Speaker 0: trying to figure out how you can juggle all of this you know, with Speaker 0: with all the stress that comes along with a startup, being a single Speaker 0: mom, or or any parent, Speaker 0: or or working in a leadership role of any small business, going Speaker 0: through the pandemic, just so much stress.

1:47 Speaker 0: How was Chantee able to manage that manage those challenges, how Speaker 0: did WiFi navigate through its adversity Speaker 0: and, reach the level of abundance where the future is very, Speaker 0: very bright for both Jonte and Bifi. Speaker 0: This is not an episode you wanna miss. Speaker 1: Welcome to the from adversity to abundance podcast. Speaker 1: Are you an entrepreneur or aspiring superpreneur, then this show Speaker 1: is for you. Speaker 1: Each week, we bring you impactful stories of real people. Speaker 1: Who have overcome painful human adversity to create a life Speaker 1: of abundance. Speaker 1: A life of abundance.

2:28 Speaker 1: You are not alone in your struggle. Speaker 1: Join us, and you will experience the power of true stories and Speaker 1: gain practical knowledge from founders who have turned poverty into Speaker 1: cross and weakness into wealth. Speaker 1: This podcast will encourage you through your health, relationship, and financial Speaker 1: challenges So you can become the hero in your quest for Speaker 1: freedom. Speaker 1: Take ownership of the life you are destined to live. Speaker 1: Turn your adversity into abundance. Speaker 0: Welcome everybody to another episode of the from adversity to abundance podcast. Speaker 0: I am your host Jamie bateman, and I'm thrilled that I have with Speaker 0: us Shante Duffy. Speaker 0: Shante is, I think our third guest who is a repeat guest So this Speaker 0: is this is pretty special.

3:13 Speaker 0: How are you doing, Chantae? Speaker 2: Good. Speaker 2: How are you? Speaker 0: Good. Speaker 2: Exciting. Speaker 0: Yeah. Speaker 0: Yeah. Speaker 0: This is exciting. Speaker 0: I'm really excited to have you back. Speaker 0: So I think you were, one of the first ten episodes. Speaker 0: You were on one of the first ten episodes we had probably Speaker 0: or episode six, something like that. Speaker 0: And we got pretty specific about your backstory and we'll we'll jump into Speaker 0: that a little bit here today. Speaker 0: Know today we wanna focus a little bit more on the challenges that come Speaker 0: along with, being a single mom and starting a company. Speaker 0: Because that's his, man, I just got stressed just saying those two Speaker 0: things out loud, but but, for the for the listener who's unfamiliar with you, Speaker 0: Tell us who you are today.

3:56 Speaker 0: What are you up to today? Speaker 2: I'm Chante Duffy. Speaker 2: I am the director of operations and one of the co founders of Bifi Speaker 2: loan servicing. Speaker 2: Also known as my second child if you ask my friends and family. Speaker 0: Nice. Speaker 0: And obviously, for those who don't know, Shante and I work together. Speaker 0: So we have a lot of interaction on a day to day basis. Speaker 0: So this will be a fun fun conversation. Speaker 0: Let's do a a kind of a high level quick overview of of the Speaker 0: first episode if you would. Speaker 0: You're not gonna cover everything from that episode, obviously. Speaker 0: But kind of hit some of the highlights and lowlights as far as Speaker 0: your backstory goes. Speaker 2: Back story, I was adopted.

4:37 Speaker 2: I was in foster care first three years of my life. Speaker 2: I was adopted ironically into a white family. Speaker 2: And I say that because people don't know, and there's just a lot of Speaker 2: history with that alone. Speaker 2: I was adopted. Speaker 2: I was very, very blessed. Speaker 2: And I have to bounce back and forth. Speaker 2: You know, raised with one of five kids. Speaker 2: So it's great. Speaker 2: By a single parent as well, who also owns her own business and has Speaker 2: for longer than I've been alive. Speaker 2: So, you know, I had definitely a really good role model there within my Speaker 2: mom and just a supportive family after that. Speaker 2: And then, you know, went through school as a child, got out of high Speaker 2: school, started going to college, and found out that I was pregnant with Speaker 2: my son. Speaker 2: His name is Benjamin. Speaker 2: I love him to death.

5:17 Speaker 2: He is now twelve years old. Speaker 2: And, you know, you give birth to a child. Speaker 2: Remember saying this on the first time. Speaker 2: You give birth to a child, happy, healthy, baby, ten fingers, ten toes. Speaker 2: You're good to go. Speaker 2: You get set home, and now you're on your own and raise this child. Speaker 2: Definitely, fun and interesting and challenging all at the same time. Speaker 2: But, as Benjamin grew up and started to get older around, you know, two, Speaker 2: three years old, I was a little concerned. Speaker 2: As I was comparing him to my sister's child, actually, who's only three months Speaker 2: older than him. Speaker 2: And realized that he was definitely a little different. Speaker 2: Wasn't really sure what was going on and took the route of finding out Speaker 2: and found out that my son ended up being diagnosed with autism, spectrum Speaker 2: disorder, and had to navigate his life that way.

5:59 Speaker 2: To, you know, make sure I meet his needs so he could be successful Speaker 2: in life as well as adjusting myself and learning because that's not something I've Speaker 2: ever actually had deal with, and manage in my face. Speaker 2: So it was definitely a lot of hurdles. Speaker 2: He has moved mountains, and I'm very, very proud of him. Speaker 2: It's still a challenge as twelve years old. Speaker 2: We're not far off for some puberty years and lots of attitude and Speaker 2: but he is also a mini me. Speaker 2: So sense. Speaker 2: So, yeah, that was a lot of it. Speaker 2: And I stayed at home for a year to race in the first year Speaker 2: and realized that I am not cut out to be a stay at home Speaker 2: mom. Speaker 0: I Speaker 2: will always give my flowers to stay at home moms because it's hard work. Speaker 2: It's it's I do think it's sometimes harder than having a regular nine to Speaker 2: five job also trying to just maintain a home.

6:43 Speaker 2: That's a lot. Speaker 0: Yeah. Speaker 2: So I decided to start working after he turned one. Speaker 0: Yeah. Speaker 0: Got it. Speaker 0: There's, some that I can really to there that, you know, with my with Speaker 0: my son as well. Speaker 0: And, just having a a special needs child is not, it's not easy Speaker 0: in and of itself. Speaker 0: That's a huge huge challenge. Speaker 0: And, so, yeah, obviously, I can't relate to being a a single Speaker 0: mom or or, I also was not adopted. Speaker 0: But so those are some some real challenges you've been through for sure. Speaker 0: So it sounds like though you weren't that that that just wasn't Speaker 0: enough in the way of challenges. Speaker 0: So you decided to Speaker 0: start a start a loan servicing company. Speaker 0: Before we get to that, How did you find your way into Speaker 0: loan servicing?

7:28 Speaker 0: How did that happen on the professional side? Speaker 2: I always feel funny answering this question because most people kinda have an idea Speaker 2: of career is gonna be, and I had no idea. Speaker 2: I just knew I wasn't staying home. Speaker 2: Honestly, I found a servicing company. Speaker 2: I was looking for a job, and I just wanted something an office sure, Speaker 2: a regular nine to five. Speaker 2: I went to be home nights and weekends and holidays with my son. Speaker 2: And I found a loan servicing company that was within three miles of my Speaker 2: home. Speaker 2: And I started as an admin assistant. Speaker 2: I knew nothing about this industry as a whole. Speaker 2: I was very, like, just pay your mortgage to your bank or you lose Speaker 2: your home. Speaker 0: Well, let's talk about that briefly because, you know, similarly, Speaker 0: I I ended up working a a title company, and I knew nothing Speaker 0: about that.

8:10 Speaker 0: I had had no clue what a title company was at that time, but, Speaker 0: you know, these are things you don't learn in school typically. Speaker 0: Right? Speaker 0: It's know, about mortgage processing and mortgage servicing, title Speaker 0: insurance, things that are pretty important, actually, in real life, but Speaker 0: Define for the listener, what is a loan servicer, what what do what Speaker 0: does a a mortgage loan servicing company? Speaker 0: What what does that company do? Speaker 2: A mortgage loan service and company is a company that private lenders and Speaker 2: investors need to use to track and maintain Speaker 2: borrower payment histories for their mortgage payments. Speaker 2: So essentially, we are the companies that when a borrower makes their mortgage payment Speaker 2: to us, we process it through our system, make sure everything's applied Speaker 2: correctly for the loan terms.

8:55 Speaker 2: And then we kind of redisperse those funds back to the lender we're essentially Speaker 2: that middle man to make sure that everything's coming in and going out properly. Speaker 2: We're following compliance and making sure that we're handling the collection of these Speaker 2: mortgage payments for the clients, which are our lenders and investors. Speaker 2: So pretty straightforward just on the east side. Speaker 0: No. Speaker 0: It's a and that sometimes I'll equate it, somewhat Speaker 0: like a a property management company for a rental property. Speaker 0: You know, the I think there are a good number of more hurdles from Speaker 0: a compliance standpoint like you, like you referred to licensing Speaker 0: is very state based. Speaker 0: When it comes to loan servicing, there's a lot of red tape and things Speaker 0: like that as compared to a property management company.

9:38 Speaker 0: Those can be fairly easy to to at least get started. Speaker 0: There's not usually a lot of red tape with a property management company, but Speaker 0: it's a very similar concept at a bit at a high level is that Speaker 0: you're collecting payments from, in this case, a lender Speaker 0: as a property manager, you're collecting payments from a tenant, and then you're dispersing Speaker 0: those those funds to I'm sorry. Speaker 0: Collecting money from a borrower. Speaker 0: To a lender. Speaker 0: I'm glad I just listened to my my own voice. Speaker 0: And then, in on the property management side, you're collecting tenants Speaker 0: of money, you know, rent payment and sending that to the landlord. Speaker 0: So very similar similar role. Speaker 0: So you didn't know what a loan servicer was.

10:21 Speaker 0: You found a a job ad basically with that that was for a company Speaker 0: within three miles of your home because you were prioritizing being a mother and Speaker 0: and a and a good mother and being around for your your son. Speaker 0: Okay. Speaker 0: So walk us through just briefly your your career and your Speaker 0: first say eight or nine years in the loan servicing space? Speaker 2: My first eight years in a loan servicing space. Speaker 2: I climbed a lot a lot. Speaker 2: I learned from the ground up. Speaker 2: I learned, you know, boots on the ground. Speaker 2: I was watching. Speaker 2: I was listening. Speaker 2: I like to learn. Speaker 2: I to gain knowledge, but I also like to share it. Speaker 2: So that's a natural trait within me. Speaker 2: So I started and didn't know anything. Speaker 2: I was answering phones, scanning paperwork, and realizing, like, I'm answering phones.

11:02 Speaker 2: I can't answer these questions because I don't know what they're talking about. Speaker 2: So I was really, really fortunate to have an amazing mentor over those eight Speaker 2: years who I still talk to to the day recently saw a couple months Speaker 2: ago, from there. Speaker 2: And I just started to ask questions, and that's really kinda how I climbed Speaker 2: the ladder. Speaker 2: It was Well, why does this happen? Speaker 2: How does this work? Speaker 2: And it was a lot of research and a lot of networking that I Speaker 2: started to do because I used to get jealous that he'd go to conferences. Speaker 2: He always would tell me about fun things that he did there. Speaker 2: And I'm like, well, can I go? Speaker 2: And it was just I was twenty one years old. Speaker 2: Can I go? Speaker 2: And it's like, yeah, why not? Speaker 2: And I'll never forget the first conference that I actually traveled at a state Speaker 2: for. Speaker 2: I went out to Texas, and it was awesome. Speaker 0: Nice. Speaker 2: And it was such a I didn't realize how big, but small this face Speaker 2: was.

11:46 Speaker 0: So I got twenty. Speaker 0: Right? Speaker 2: Yes. Speaker 2: I am in New Jersey. Speaker 2: So me jumping on an airplane. Speaker 0: This is a little different than New Jersey. Speaker 2: A little bit, but they're super cool and to be in an area where Speaker 2: There's so many more people that are aware of this space, and also who Speaker 2: aren't. Speaker 2: It really opened my eyes, and I was like, wait, this is actually really Speaker 2: cool. Speaker 2: And I just kept going, and I watched myself go from an admin assistant Speaker 2: to an office manager, to the business development manager, and, you know, and health Speaker 2: hiring and creating procedures and processes, and I just Speaker 2: grew to love it, somehow. Speaker 2: Somehow kind of made myself a big enough face in the world just as Speaker 2: a servicer and trying to help investors with their needs. Speaker 0: Well, I think that's a really couple key points. Speaker 0: I mean, One is just you do have to roll up your sleeves and Speaker 0: and kind of learn things yourself in in life, I would say.

12:32 Speaker 0: That's a a really good lesson is, you know, a lot a lot of Speaker 0: people I think kind of expect to be spoon fed in a sense of, Speaker 0: well, you know, I've I've worked with people at former, in some former roles Speaker 0: where they'll say, Well, I wasn't trained on Speaker 0: that. Speaker 0: So I can't I can't I can't do that. Speaker 0: It's like, that that works to an extent, but at some point, it's like Speaker 0: you gotta figure some things out and you have to be proactive. Speaker 0: And sounds like that's what that's how you were able to rise through the Speaker 0: ranks. Speaker 0: And I know for sure you, definitely made a name for yourself. Speaker 0: I mean, a lot of people Speaker 0: You know, I I think it's just a matter of adding value and listening Speaker 0: to other people and and, just being proactive about Speaker 0: like you said, acquiring knowledge, but then sharing it.

13:16 Speaker 0: Don't, you know, not hoarding that knowledge. Speaker 0: So that's that's really it's really good. Speaker 0: So I know that that, that company ended Speaker 0: up moving out of state and Speaker 2: Left me. Speaker 0: Yeah. Speaker 0: They left you. Speaker 0: So, yeah, Speaker 2: I did have the opportunity. Speaker 2: To move. Speaker 2: I wanna make that abundantly clear. Speaker 2: I just my my life is here, in New Jersey. Speaker 2: So Yeah. Speaker 2: They moved to Nevada and got themselves set up. Speaker 2: I stayed and kinda ran the Jersey office, and then we walked into COVID, Speaker 2: which kinda changed the dynamic of the entire world. Speaker 2: We luckily, though, in the servicing world, still got to work. Speaker 2: We were in my eyes essential. Speaker 2: So I still worked at, you know, the COVID didn't really affect me too Speaker 2: much in my career.

14:00 Speaker 2: And just with realizing that, a lot of people didn't wanna keep working, Speaker 2: kinda stayed home, whether they decide to stop working, go get a new job, Speaker 2: whatever the case may be. Speaker 2: And it got to a point where we kinda shut down the Jersey office. Speaker 2: We didn't need it, and I went remote. Speaker 2: And then I kinda walked into an opportunity that I Speaker 2: tried to say no to for a while. Speaker 2: I definitely push that off for months. Speaker 2: And then realize that, you know, when there's op when opportunities present Speaker 2: themselves, they present themselves for a reason. Speaker 2: And you're supposed to be scared. Speaker 2: You're supposed to be uncomfortable. Speaker 2: But I've always wanted to be a part of something big always. Speaker 2: And I kinda sat back and was like, I have the opportunity to create Speaker 2: something here that I I am passionate about and that I genuinely love stress Speaker 2: and all.

14:48 Speaker 2: And I was like, I have to do this, like, how many people get Speaker 2: this opportunity in this corner of our world, you know, being in servicing Speaker 2: and not investing and things like that. Speaker 2: And I decided to take a plunge. Speaker 0: Nice. Speaker 0: So from a personal standpoint through COVID, and then we'll get to the starting Speaker 0: starting the company. Speaker 0: How did you manage, you know, being a single mom through all Speaker 0: and working at the same time? Speaker 0: I mean, I can tell you that that at that time, actually, my wife Speaker 0: was working for my company. Speaker 0: She was working for me, which is a whole probably ten episodes we could Speaker 0: do. Speaker 0: And, you know, once my my kids were essentially Speaker 0: doing school from home, she pretty much had to stay, you know, and become Speaker 0: my son's aid or teacher.

15:37 Speaker 0: So she kinda threw me to the side and focused on him, which made Speaker 0: sense. Speaker 0: But How were you able to navigate that? Speaker 2: So I'm fortunate enough to a family, where almost Speaker 2: everybody in my family wasn't working. Speaker 2: And I was the one that still had two. Speaker 2: So it was very easy to have Benjamin watched and have him do Speaker 2: homeschooling. Speaker 2: So the toughest part was the end, like, twenty twenty from March through June. Speaker 2: But as we all know, COVID still went on, because he has Speaker 2: special needs, in New Jersey, special needs, kids were the ones that, Speaker 2: you know, a lot of us, we were concerned that they were gonna be Speaker 2: affected the most. Speaker 2: All kids end up being affected in some stands, but he was able to Speaker 2: go to school.

16:18 Speaker 2: So when the new school year started, as everyone else is still home, all Speaker 2: the special needs kids got to go to school. Speaker 2: I see. Speaker 2: It's smaller groups. Speaker 2: So as September of twenty twenty rolled around. Speaker 2: He went to school every day, and we went kind of went back to Speaker 2: regular routine. Speaker 2: We were very fortunate to not be get sick. Speaker 0: Yeah. Speaker 2: But I did miss out on time. Speaker 2: There was points where I was waving at my child through a window because Speaker 2: I was going into an office where other people still were there. Speaker 2: And I would not be able to live with myself if I contracted COVID Speaker 2: and passed it along to him. Speaker 2: So I would buy little he's obsessed with Legos and Super Mario. Speaker 2: So I would buy little things he would I bought him a drone. Speaker 2: So he'd fly these drones around and just stuff to keep him occupied, but Speaker 2: it was probably the saddest moment of life because you never fit your Speaker 2: not being able to just hug your kid.

17:08 Speaker 2: And, you know, feed him dinner, you know, these things that I take for Speaker 2: granted, I think sometimes are stressful on a daily basis. Speaker 2: Aren't. Speaker 2: And I miss that on that, but I also look at COVID as a Speaker 2: blessing because I also ended a serious relationship. Speaker 2: All this has happened the same time. Speaker 2: So to me, it was like this is my chance for a reset and Speaker 2: to clean up and really figure out what I want out of this life Speaker 2: moving forward. Speaker 0: Really important is just the perspective, you know, because I mean, that comes up Speaker 0: on on this show quite a bit is we don't we don't seek out Speaker 0: bad things to happen to us. Speaker 0: No. Speaker 0: Nobody really wants to go through adversity. Speaker 0: Right? Speaker 0: It's not fun, but but there's always a bright side and always something that Speaker 0: comes out of that that's either an opportunity or growth like you talked about Speaker 0: or or ending something bad in your life, and and Speaker 0: moving on.

17:52 Speaker 0: So Alright. Speaker 0: So buy fi loan servicing. Speaker 0: This opportunity gets presented to you, from Speaker 0: a guy named Chris, Speaker 2: Yes. Speaker 0: And, Speaker 0: talk about, like, what was the impetus? Speaker 0: And, obviously, I have some some inside information on this as well, but I'll Speaker 0: pretend for now I don't. Speaker 0: So what's the reason why start a servicing company? Speaker 0: Why call it WiFi? Speaker 0: What's what's going on into your, your mind at that time? Speaker 2: There were several different reasons. Speaker 2: So in the opportunity of, like, hey, Chantae, why don't you start your own? Speaker 2: It was a mix of, you know, the my prior employment moving, and then Speaker 2: me working. Speaker 2: I don't, like, working from home at all. Speaker 2: Mhmm. Speaker 2: I have an office girl all day long.

18:34 Speaker 2: But it was that, and then it was okay. Speaker 2: I I I kept saying no. Speaker 2: No. Speaker 2: No. Speaker 2: No. Speaker 2: No. Speaker 2: It's it's too hard. Speaker 2: It's too expensive. Speaker 2: I can't do it. Speaker 2: And lovely Chris, who we love to death. Speaker 2: He wouldn't take no as an answer. Speaker 2: And I should've known that because I know him very well, but Yeah. Speaker 2: I trusted him and I trust you. Speaker 2: So I sat down and was like, okay, Chantay. Speaker 2: Here's an opportunity. Speaker 2: You want it because it gives you a chance to chase your entrepreneurial goals Speaker 2: and dreams that I've always had. Speaker 2: And someone's literally willing to support and help. Speaker 2: You have people that are gonna, you know, do this with you. Speaker 2: It's not you solo at all. Speaker 2: And I think that was a big part of my fear. Speaker 2: And I sat down and really thought if I'm gonna do this, I wanna Speaker 2: be different.

19:16 Speaker 2: I don't wanna just be like every other servicer. Speaker 2: I don't services don't get good wrap in our space. Speaker 2: Nobody I say this to everybody. Speaker 2: I've probably said on every podcast I've ever been on. Speaker 2: Yeah. Speaker 2: Nobody wants us. Speaker 2: Nobody need, like, nobody likes a servicer, but you need one. Speaker 0: Yeah. Speaker 0: Exactly. Speaker 2: I don't want to. Speaker 2: I kind Speaker 0: of equate it to, like, a referee and a we talked about this before, Speaker 0: but, like, you know, in a say say a basketball game or basketball referee. Speaker 0: No one goes to the game to watch the ref. Speaker 0: They're not excited about the referee. Speaker 0: Right? Speaker 0: But they absolutely need a ref to keep keep everyone compliant Speaker 0: and to, you know, keep score. Speaker 0: Right? Speaker 2: And so Call shots, you know. Speaker 0: Exactly. Speaker 0: So it's such a vital role for sure.

19:56 Speaker 2: Absolutely. Speaker 2: And I just wanted to somehow bridge the gap. Speaker 2: I wanted to be needed and wanted, as a whole. Speaker 2: And I worked with many, many, many different investors over the years, Speaker 2: and it was like, okay, we're gonna do this. Speaker 2: We have to do this right. Speaker 2: And it took a lot of brainstorming, and it was definitely challenging. Speaker 2: It was fun. Speaker 2: It was exciting. Speaker 2: The beginning parts are super fun. Speaker 2: But sitting down and getting a of investors that I trust, to be honest, Speaker 2: and vocal, and blunt, and bold in the things that they look for Speaker 2: in other servicers, I think was my favorite part to this day of Speaker 2: setting, you know, WiFi. Speaker 2: And it was getting feedback. Speaker 2: What do you like about servicers? Speaker 2: What do you don't like?

20:36 Speaker 2: What do you why do you pick this one over this one in certain Speaker 2: scenarios? Speaker 2: Is it just a licensing scenario? Speaker 2: Or is it they just handle certain things better? Speaker 2: And We basically kinda pulled all that information in and was like, okay. Speaker 2: So how do we address all these pain points? Speaker 2: Because if we can address these, like, we're ready ahead of the game. Speaker 2: And that's how I thought, you know, we could bridge that gap. Speaker 2: So that was the most fun part, of it. Speaker 2: And it got to a point where I was like, I think I I Speaker 2: think can do this. Speaker 2: And at that point, it was, like, alright. Speaker 2: And it I struggled. Speaker 2: I'm not gonna lie. Speaker 2: I struggled with departing from the place I learned, my Speaker 2: mentor, they were family. Speaker 2: They weren't just bosses and people I worked with. Speaker 2: They were family to me. Speaker 2: And that's eight almost nine years of my life, that I was walking Speaker 2: away from and I felt so odd.

21:23 Speaker 2: I felt like I was doing something wrong, but they also understood it. Speaker 2: So Sure. Speaker 2: When it, you know, was explained, you know, Shonda, you're gonna do great. Speaker 2: You're gonna be fine. Speaker 2: There was no love lost because in the flip side to it, I'm technically Speaker 2: about to be a competitor of yours. Speaker 2: And that made me really anxious, Speaker 2: because I don't their family. Speaker 2: So Yeah. Speaker 2: It was a I still feel like it was a good move, and it Speaker 2: was the right move for me. Speaker 2: And it opened up my eyes and my mind and the opportunity, and Speaker 2: I learned a lot. Speaker 2: I'm still worrying a lot to this day. Speaker 0: Well, that's where I'd say, I mean, for one, we have we have a Speaker 0: good working relationship with that company still. Speaker 0: And I know you send loans to them sometimes. Speaker 0: So there's no love lost or or or there there's a good relationship.

22:05 Speaker 0: I should I should say. Speaker 0: But the other thing is, you know, framing it as even if versus Speaker 0: what if, and this is something that I end up saying a lot on Speaker 0: the show. Speaker 0: And you and I've talked about this before as well, but let's say you Speaker 0: left the company and and even if WiFi Speaker 0: was a disaster, let's just say it it failed. Speaker 0: Well, even if I guarantee even if that happened, I guarantee you could find Speaker 0: another job in this space. Speaker 0: But that's what that's old company, former company, or a different company. Speaker 0: Right? Speaker 0: So you gotta be willing to take some calculated risks in life, Speaker 0: and I and I love that you were able to get yourself to that Speaker 0: point where you were comfortable enough. Speaker 0: Conffortable with being uncomfortable.

22:46 Speaker 2: Exactly. Speaker 2: Just to say that you had to be uncomfortable, but comfortable with it. Speaker 2: So Speaker 0: Yeah. Speaker 0: And so there's no, you know, one size fits all in in how to Speaker 0: kind of approach that. Speaker 0: So and and absolutely. Speaker 0: I mean, that is one thing, obviously, I was involved in in in that Speaker 0: from the beginning as far as you know, developing all the plans Speaker 0: and everything. Speaker 0: A large part of twenty twenty one, that's Speaker 0: all we were doing. Speaker 0: We weren't running and we weren't operating for the most most of that year. Speaker 0: We were getting licenses, setting up, planning, creating SOPs, Speaker 0: figuring out what what should work, what won't work, etcetera. Speaker 0: So a lot of work went in into that, from Speaker 0: December, January, almost for that first year.

23:33 Speaker 0: About Speaker 2: a year. Speaker 2: Yeah. Speaker 0: Because we Speaker 2: didn't open our doors till November. Speaker 0: Yeah. Speaker 0: Exactly. Speaker 2: Service for other investors. Speaker 0: And I mean, Chris and I are still active Speaker 0: fund managers. Speaker 0: So the whole WiFi by investors. Speaker 0: Yes. Speaker 0: We did take a lot of input from other investors. Speaker 0: But it was actually created by active investors. Speaker 0: And I know you have been an active note investor as well. Speaker 0: So I Speaker 2: finally jumped over that bridge. Speaker 2: So, yeah. Speaker 0: Yeah. Speaker 0: So, I mean, that's a key point as well. Speaker 0: It's not just for investors, which is which is critical, but is actually created Speaker 0: by investors because we understood the pain points of using other servicers Speaker 0: There's no perfect servicer.

24:13 Speaker 0: Let's be honest. Speaker 0: Right? Speaker 0: But I still use other servicers myself and and, so Speaker 0: yeah. Speaker 0: So mean, I think that research component and that work is critical Speaker 0: upfront. Speaker 0: What would you say looking at that first year, specifically? Speaker 0: Maybe one or two lessons learned or takeaways from that first year? Speaker 2: I know you and I talk with this all the time, but everybody listening, Speaker 2: we definitely bit off more than we could chew, and I hate admitting Speaker 2: it, but it is the lesson that was learned. Speaker 0: I Speaker 2: think we were all so eager and so excited and watching it come to Speaker 2: fruition. Speaker 2: I think we all were like, this is happening. Speaker 2: This is happening. Speaker 2: And I was excited. Speaker 2: You were excited. Speaker 2: Everyone was excited.

24:54 Speaker 2: And then we just kinda went, like, head first in, like, a no diving Speaker 2: situation. Speaker 2: We obtained a lot of licenses out of the gate without really Speaker 2: We wanted to be open to a lot more investors to be able to Speaker 2: use this, but didn't really process how that was gonna happen. Speaker 2: So I think we skipped a step And I think it's just our eager Speaker 2: that kinda got into it. Speaker 2: And we definitely felt that the end of twenty one and then one twenty Speaker 2: two. Speaker 0: I mean, it's a and it's one of those things where Again, there's no Speaker 0: playbook, how this should work exactly. Speaker 0: There's no one size fits all answer, but and because a lot of investors, Speaker 0: they only wanna work with one servicer. Speaker 0: So we have clients or potential clients who aren't gonna Speaker 0: move loans over to Bifi to be serviced unless Bifi is licensed Speaker 0: in all the states that they have loans in.

25:41 Speaker 0: So if I have loans in Texas and Florida, but WiFi is not Speaker 0: licensed in one of those states. Speaker 0: Oh, I'm sticking with my other servicer because they're licensed in both states. Speaker 0: So it made sense that we would want to get that many licenses that Speaker 0: quickly. Speaker 0: But in hindsight, hundred percent agree, I think it's one of the biggest mistakes Speaker 0: we made Yep. Speaker 0: Is getting too many licenses too quickly without the revenue to justify Speaker 0: those costs and the time. Speaker 0: Of it. Speaker 0: The time and the and the actual financial cost of getting those licenses, I Speaker 0: think. Speaker 0: We we we shot a little too high in in that. Speaker 2: We had the least amount of knowledge in it. Speaker 2: In my opinion. Speaker 2: I was never in charge of licensing, so I always had somebody to handle Speaker 2: that.

26:22 Speaker 2: And, yeah. Speaker 2: It turned around. Speaker 2: It was like, no, Shanti. Speaker 2: This is in the front of your face. Speaker 2: And I was like, okay. Speaker 2: And remember going, I remember being like, I don't think this is gonna work Speaker 2: at some point, but it, you know, you learn. Speaker 2: And that's kinda why we to pump the brakes a little bit. Speaker 0: Yeah. Speaker 0: And one other quick thing I'll say is, you know, I mean, yeah, Chris Speaker 0: and I have started businesses before, but nothing Speaker 0: nothing like this exactly. Speaker 0: And and, you know, we bought office space. Speaker 0: We became landlords that the Bifi became a landlord immediately. Speaker 0: So all of a sudden, you're up there in New Jersey. Speaker 0: HVAC goes out. Speaker 0: You know, you you don't know what to do. Speaker 0: You you know, this is not something you're not a you're not a landlord. Speaker 0: Like, you're you're not a Speaker 2: I'm not even a homeowner.

27:04 Speaker 2: So a few other things I don't have. Speaker 0: Not a homeowner. Speaker 0: You're not a, you hadn't been a a business owner at that point. Speaker 0: I mean, there's a lot forget the servicing side. Speaker 0: Right? Speaker 0: Forget the licensing and the management of people and the processing of payments and Speaker 0: all that stuff that takes a ton of work. Speaker 0: That all that was brand new to you, the rest of it. Speaker 0: So, yeah, that's a couple of challenges. Speaker 2: Yeah. Speaker 2: Unless it's a, you know, we can learn from and move forward better. Speaker 0: Yeah. Speaker 0: So okay. Speaker 0: Twenty twenty two hits. Speaker 0: Second year, the BIFY is in operation. Speaker 0: I think we start taking on more loans. Speaker 0: We start taking on clients' loans, start building the portfolio, start getting Speaker 0: some revenue, correct me if I'm wrong, but I'd say most of twenty Speaker 0: twenty two actually went fairly well from a business.

27:55 Speaker 2: Pretty smoothly from a business standpoint. Speaker 2: That was also the year that we all got to be in the same Speaker 2: place at the same time. Speaker 2: I still have those pictures. Speaker 2: Just as proof. Speaker 2: We had gone to some conferences and, you know, we We were okay. Speaker 2: Yeah. Speaker 2: It was moved not as quickly as, like, the en originated and projected, Speaker 2: but it made sense, and I wasn't too upset about it. Speaker 2: Yeah. Speaker 2: Because it wasn't too much to handle necessarily on, like, you know, Speaker 2: obtaining new business. Speaker 2: That wasn't the issue. Speaker 2: And it was fun to go out and represent WiFi to investors Speaker 2: and things like that and let them know who we are because we spend Speaker 2: a lot more time putting ourselves on the map. Speaker 0: Yeah.

28:35 Speaker 2: And that's at the flip side. Speaker 2: You have a brand new servicer that's popping up and competing against all these Speaker 2: other servicers that have been around for at least a decade plus. Speaker 0: Some of Speaker 2: these servicers again have been around for, like, forty years. Speaker 2: So I don't I the first first and second quarter Speaker 2: of twenty twenty two, I think it was okay. Speaker 2: It kinda got a little crazy in that summertime, for me, at Speaker 2: least, personally, for me. Speaker 0: Well, and I and I can say, you know, that I think part of Speaker 0: the issue too was you had kind of two two people, Speaker 0: that were you know, between Chris and me, we weren't necessarily always Speaker 0: on the same page. Speaker 0: And, you know, we don't have to get into the weeds too much, but Speaker 0: I think what I was saying is three Speaker 2: different ideas.

29:17 Speaker 0: Exactly. Speaker 0: Three strong personalities, and we we would get along. Speaker 0: It wasn't a matter of us not getting along. Speaker 0: It was just we didn't have the same vision necessarily on every little Speaker 0: part of the business. Speaker 0: So, Chris might tell you one thing. Speaker 0: I might tell you something else, not even name Speaker 2: my own opinion. Speaker 0: Contradict when you have your own opinion. Speaker 0: Yep. Speaker 0: And so, Speaker 0: second half of twenty twenty two, things didn't quite go as Speaker 0: as planned. Speaker 0: Can you elaborate on that? Speaker 2: Yeah. Speaker 2: I definitely think part of us all being together. Speaker 2: I just I started to feel overwhelmed. Speaker 2: I started to feel confused. Speaker 2: And I had, of course, myself, my son, my mom had gotten sick, but Speaker 2: she was the caregiver of my grandmother. Speaker 2: So my mom getting sick affected my entire family.

30:00 Speaker 2: And I'm, like, the only one who ever shows up to do certain things. Speaker 2: So there was just a lot of stress going on personally, and then I Speaker 2: come to work. Speaker 2: And I was, like, wait, you know, we're getting different ideas, different, different wants Speaker 2: and goals, and and I just felt lost. Speaker 2: And I remember all of us talking about I'm really good at Speaker 2: servicing. Speaker 2: Yeah. Speaker 2: I don't know how to be a CEO, and that's the guy's honest truth. Speaker 2: I've never done it. Speaker 2: I know I kinda put something together and created it because it was policies, Speaker 2: procedures. Speaker 2: I knew it was needed. Speaker 0: Yeah. Speaker 2: But when you walk through it and a year later, you're looking and you're Speaker 2: like, wait, I there's a lot of things I've never done and didn't understand Speaker 2: and would just end up being so overwhelmed. Speaker 2: And then that's also managing like staff and being a landlord and dealing with Speaker 2: things So there was Speaker 0: Yeah.

30:43 Speaker 2: A lot of moving parts and my entire emotional state Speaker 2: just went down the drain. Speaker 2: In every capacity of my of of my life. Speaker 2: And it's not just, you know, personal. Speaker 2: It's a and a lot of it came from WiFi. Speaker 2: And it was a lot of stress. Speaker 2: And I know that we all were working together to get, I get, you Speaker 2: know, we all talked about, like, we need help. Speaker 2: Chantini's help. Speaker 2: We gotta help her. Speaker 2: We just weren't sure where to land on that. Speaker 2: And we got to a point where we did, and I just I I Speaker 2: think I had checked out. Speaker 2: And that's I was so overwhelmed that I was growing resentment Speaker 2: for something that I created. Speaker 2: Something that I loved, you know, just six months a year before, and I Speaker 2: was excited about I hated. Speaker 2: I was miserable.

31:23 Speaker 2: And then the stressor of my mom and my grandma and my son. Speaker 2: And I was just like, this is too much. Speaker 2: I need I I I have to walk away. Speaker 2: And I did it for my sanity, for my piece as a as a Speaker 2: as a shantae Duffy, a mother, a daughter, a sister, a friend, Speaker 2: an employee, a co founder of a company, all of it. Speaker 2: And I really needed a heavy reset. Speaker 2: I lost myself, and then while it was happening, it's going down this downward Speaker 2: spiral of, well, you know, I did all this, and I wasn't paying attention Speaker 2: enough to Benjamin, and I just I was picking myself apart because I needed Speaker 2: to. Speaker 0: But Speaker 2: I all set to build myself up. Speaker 2: So in September, the end of September twenty twenty two, Speaker 2: I decided to leave.

32:05 Speaker 2: I I needed to do that for me, and I think it also was Speaker 2: the best thing for my son, my family, and wifi at the time. Speaker 2: I think there was just too much going on, too many just anxieties and Speaker 2: stressors, and I had to back out. Speaker 2: And I don't think that's what any any of us expected. Speaker 2: But it's what, to me, personally, to this day, I needed it. Speaker 2: Yeah. Speaker 2: So there's no ill towards it from there. Speaker 2: No. Speaker 0: I mean, it was it was from I mean, we started to hit rock Speaker 0: bottom as a as a business at that point. Speaker 0: We were starting to get there. Speaker 0: We hadn't quite got there. Speaker 0: But because when you left, it did. Speaker 0: A lot. Speaker 0: You are such a key player and and, it was it was already headed Speaker 0: south a little bit, but it it got got worse after you left, and Speaker 0: that's not to make you feel bad.

32:48 Speaker 0: It's just the reality of, you know, it's also compliment because you're such a Speaker 0: good servicing person for sure. Speaker 0: You know, and just from my perspective too, Speaker 0: you know, look, Chris started a massive fund. Speaker 0: He had a ton going on. Speaker 0: He built this he quit his job, or I I don't know when exactly. Speaker 0: But, he had a lot going on with his regulation a fund. Speaker 0: Which You quit your job. Speaker 0: Yeah. Speaker 0: I quit my that's true. Speaker 0: And that's right. Speaker 0: My my Achilles and all that stuff, and it was a lot going on. Speaker 0: And then, yeah, I like to throw in, then I ruptured Michael. Speaker 0: He's playing the manly sport of badminton. Speaker 0: But now I we we started to have a lot of struggle, at home Speaker 0: with my own with my son as well.

33:31 Speaker 0: I think that really, really super challenging about Speaker 0: a year ago now. Speaker 0: But, Speaker 0: and so there's there's it's not just Like, if we're talking just WiFi Speaker 0: in a vacuum, Speaker 2: it's all of us. Speaker 0: It's but it's like if we could have, you know, I don't think we Speaker 0: would have hit that rock bottom. Speaker 0: But there's so many other factors, health, relationships, Speaker 0: financial things going on in your personal life. Speaker 0: Right? Speaker 0: And so but, when you say taking care of yourself and that was the Speaker 0: right thing to do, I, a hundred percent agree. Speaker 0: Hindsight helps me agree with that. Speaker 0: But, you know, the whole, you know, on an airplane, put Speaker 0: the oxygen mask on your on your own on yourself first.

34:14 Speaker 2: Before you could help everybody else. Speaker 0: I mean, it's so true. Speaker 0: It's it's corny, cheesy, whatever, but it's really true. Speaker 0: You can't you couldn't have helped the people in your own life or buy Speaker 0: like you already Speaker 2: wasn't, you know, and that I felt everybody felt that. Speaker 2: And Yeah. Speaker 2: I will always feel don't say bad. Speaker 2: Because I'm not gonna feel bad for being me and genuinely Speaker 2: just dealing with life and everything's throwing out at me, but there's a part Speaker 2: even that's always as much as I needed it. Speaker 2: There was a part for a while. Speaker 2: The first, like, couple I was gone for six months, essentially. Speaker 2: But there was a part of me that felt guilty, for letting everybody, Speaker 2: not just you guys, like, being co founders and my staff, Speaker 2: it's the clients.

34:58 Speaker 2: Like Speaker 0: Yeah. Speaker 2: Like, I I work so hard to get them through the door. Speaker 2: So there was a part of me that felt like I lost a lot. Speaker 2: And then but I needed to regroup, and that was more I'm useless to Speaker 2: open the entire world if I Right. Speaker 0: Well, and if I'm honest, I was super Speaker 0: disappointed not in you, but disappointed that because I wanted Speaker 0: to see you succeed, and I was genuinely disappointed that, apparently, that wasn't Speaker 0: gonna happen, at least, you know, with this with this venture. Speaker 0: It was not looking good. Speaker 0: So before we get to how all the improvements we've Speaker 0: been making with Bifi Speaker 0: and, the the future of Bifi, during that six months Speaker 0: when you were gone. Speaker 2: Mhmm.

35:39 Speaker 0: How did you approach that kind of internal work? Speaker 0: What what I mean, be as specific as you'd like, obviously. Speaker 0: But but, what what does that mean? Speaker 0: Cause people say, oh, I had to work on myself. Speaker 0: That sounds good. Speaker 0: I don't know. Speaker 2: No. Speaker 2: I had to shut down. Speaker 2: I had shut everybody out. Speaker 2: I shut my family out. Speaker 2: I shut work out. Speaker 2: I focused on my son because that's my responsibility. Speaker 2: That's the only person I can't shut out ever. Speaker 2: And he wouldn't get along far in his life without me. Speaker 2: So it took a lot of therapy. Speaker 2: I realized that how I was feeling. Speaker 2: I it was stuck. Speaker 2: It was stuck in here. Speaker 0: Mhmm. Speaker 2: And all that kept as every time something happened, no matter how small of Speaker 2: an issue it might have been, it could've been that my son had a Speaker 2: hard time trying his shoes, and I'm having a mental breakdown over it.

36:23 Speaker 0: Mhmm. Speaker 2: Because I'm dealing with so much other stress. Speaker 2: So I've been in that therapy since I was twelve years old. Speaker 2: I am a true person that's gonna push it, and I knew that's what Speaker 2: I needed. Speaker 2: I was so angry and that wasn't anger is a secondary emotion. Speaker 0: Mhmm. Speaker 0: Yeah. Speaker 2: I've learned that. Speaker 2: So I on the outward, everybody's looking at me as angry. Speaker 2: And I thought I was angry because what everyone was telling me too. Speaker 2: Like, my family was, Shadi, you're so angry. Speaker 2: No. Speaker 2: I am stressed out. Speaker 2: I am overwhelmed. Speaker 2: I don't feel adequate enough in certain aspects of my life. Speaker 2: Which I was bringing into other aspects. Speaker 2: So if I'm working really hard at work while I'm neglecting my kid, I Speaker 2: didn't know how to balance. Speaker 2: I had gotten to a point where it was they're both important.

37:05 Speaker 2: You know, those are the top two things that are important to me, at Speaker 2: least. Speaker 2: Yeah. Speaker 0: Your first job on your second job. Speaker 2: Exactly. Speaker 2: And then both with beads, like, I I didn't know how to juggle it. Speaker 2: And I realized that a lot of my feelings and emotions came Speaker 2: when they were I needed to compartmentalize them a little bit. Speaker 2: So I needed to deal with my feelings with my family because they were Speaker 2: strut like, when my mom was sick, I expected my family to step up Speaker 2: and help, and they didn't, and that drove me nuts because here I am Speaker 2: trying to be an entrepreneur, run a business, raise my kid, and I have Speaker 2: to do all this extra. Speaker 2: So I had to separate everything and basically dive into each situation Speaker 2: every scenario to really figure out what it is that you're actually feeling How Speaker 2: are you going to fix that? Speaker 2: I had to put in the work to not feel this anger, this anxiety, Speaker 2: this overwhelming, and had to figure out, Shante, moving forward in your life because Speaker 2: life is life.

37:53 Speaker 2: Things are always gonna happen good or bad. Speaker 2: How are you going to save yourself? Speaker 2: So that this doesn't happen again in any aspect. Speaker 2: Mhmm. Speaker 2: And that's where I spent a lot of time. Speaker 2: And, okay, so I figured out what the issues were here's how I solve Speaker 2: them. Speaker 2: What do I do now to fix that? Speaker 2: And I set boundaries. Speaker 2: I'm not good at setting boundaries. Speaker 2: And that's something that I've always known. Speaker 0: Yeah. Speaker 0: So so I know those are important. Speaker 0: Boundaries are important, right, especially nowadays if you're talking, like, working from home and Speaker 0: with COVID and all that. Speaker 0: Everything is all, like, mixed into one thing if you let it, if you Speaker 0: let it go that way. Speaker 0: So what did you do? Speaker 0: Boundaries wise? Speaker 2: I had to recreate basically my priorities.

38:36 Speaker 2: And, obviously, my son is first no matter what. Speaker 2: And a big part of my overwhelming like mental space Speaker 2: was that I didn't feel like I was giving him the attention he needed Speaker 2: as my son. Speaker 2: Like, yes, I'm taking care of him. Speaker 2: And but I'm not, like, most people sit down and spend time with their Speaker 2: kids every day. Speaker 2: I was over here, like, yeah, working and just kinda, like, talking over my Speaker 2: computer to him. Speaker 2: And that's not a life for him. Speaker 2: That's not fair. Speaker 2: And the I definitely didn't want it to be more exciting to go spend Speaker 2: time with other people, even me. Speaker 2: So the first set was Benjamin's always first and make sure he's not just Speaker 2: taken care of but that you are being the mom that he Speaker 2: needs you to be, not just, you know, his responsibilities and necessities.

39:17 Speaker 0: Yeah. Speaker 0: So not just getting him the quick, you know, fast food burger and Speaker 0: and and putting them to bed, actually being present. Speaker 0: I know I know you do, cooking dinner a good bit. Speaker 2: I do all the time. Speaker 2: We play a lot of scrabble. Speaker 2: My son's really and I can't stand scrabble. Speaker 2: I'm just not the game for me. Speaker 2: He loves scrabble. Speaker 2: He loves puzzles and things that I can't stand, but it I love watching Speaker 2: his brain move. Speaker 2: I love watching him be happy, so I make it a point. Speaker 2: Like, Shante, there's no reason that you're working ten o'clock at night when your Speaker 2: kid gets out of school at three thirty. Speaker 2: So the first value is to make sure that I did things with him Speaker 2: and kept it routine. Speaker 2: And as of now, we're still on this eighteen. Speaker 2: I I actually like it.

39:57 Speaker 2: And then the second part was I have to I I did still Speaker 2: work during that six that I wasn't, you know, I just didn't work for Speaker 2: a servicing company. Speaker 2: I was an asset manager for Fund. Speaker 2: And because that was less challenging. Speaker 2: I also realized this is not what I wanna do for rest of my Speaker 2: life because I'm used to a little bit more challenging. Speaker 2: I need to keep moving and keep my brain thinking, and it's Speaker 0: as Speaker 2: much as yes, far as each we talk to and things like that, it's Speaker 2: not my favorite thing to do. Speaker 2: Mhmm. Speaker 2: So I knew that wasn't my all be all, but I also wasn't rushing Speaker 2: myself to go anywhere. Speaker 2: I wasn't even hundred percent sure that WiFi was gonna be an option for Speaker 2: me that I would even take I'm not sure.

40:38 Speaker 2: And it just I mean, it happened. Speaker 2: I feel like it was like divine timing, but I was actually entertaining other Speaker 2: Mhmm. Speaker 2: Opportunities when five I came back onto my plate. Speaker 2: And I had to think long and hard on that one. Speaker 0: Yeah. Speaker 0: I mean, there's a lot going on. Speaker 0: And so, Speaker 0: Yeah. Speaker 0: Well, it's a we, we internally said, you know what? Speaker 0: We gotta we gotta take this this shot again to try to get Chantay Speaker 0: back because, I mean, you know, you're you're such a key piece to Speaker 0: the the company. Speaker 0: And when things were going well is when you were rocking and rolling, and Speaker 0: so If we were gonna recover as a company, we knew we had to Speaker 0: reach out to you. Speaker 0: So, Speaker 0: man, okay.

41:19 Speaker 0: Let's talk from your return through today. Speaker 0: So he came back in around March, I guess, of twenty twenty three. Speaker 0: He came back to WiFi originally you were we we had someone kinda Speaker 0: doing the we had more of a personnel doing operations. Speaker 0: So we thought, well, we need more loans. Speaker 0: Let's let's put her in business development. Speaker 2: Well, at first, I started with Hey, Chantay. Speaker 2: Just look everything over. Speaker 2: Yeah. Speaker 2: Which is why we didn't announce that I was back because I just wanted Speaker 2: to make sure everything was the way it should be at least in servicing Speaker 2: standpoint and then put me into the business development role because, essentially, Speaker 2: that's what I'm that's where I shine. Speaker 2: That's what I like to do. Speaker 2: And I think everybody knows that. Speaker 2: And that's why we were like, yeah.

42:00 Speaker 2: And as time went on, we realized very quickly, we it didn't take long Speaker 2: at all. Speaker 2: That right now, shall at least at that time, at this time, this is Speaker 2: not where you need to be because we need, you know, expertise and your Speaker 2: operation side. Speaker 2: And I I, a hundred percent agreed with it. Speaker 2: I was, like, no. Speaker 2: No. Speaker 2: Like, I don't think I should be doing this. Speaker 2: I think this is where I need to be for now. Speaker 2: And we kinda switched that role and made sure that I kinda oversaw and Speaker 2: still oversee all the operations of Fireflies hole. Speaker 2: So my hands are a little bit in everything, just to make sure that Speaker 2: everything is still functioning and making sure the processes that were originally Speaker 2: in place either they're there and still working or if they're not tweak it, Speaker 2: change it, help any, you know, any anywhere that's needed.

42:45 Speaker 2: Which is kinda where I thought, okay, let's turn the ship around first, and Speaker 2: let's keep it moving. Speaker 2: And then we, you know, we can rearrange and replace time. Speaker 0: Well, the reality is too, you know, not only did you have the the Speaker 0: long, history of servicing experience, default servicing with, like, foreclosures Speaker 0: and bankruptcy and all the servicing experience you had, you also Speaker 0: had intimate knowledge of how this company had been formed, the intent of what Speaker 0: was, you know, what was put in place what was supposed to happen also Speaker 0: familiarity with the loans themselves, a lot of them. Speaker 0: So we probably couldn't have found anybody else who we could plug and play Speaker 0: like we were able to, with you. Speaker 0: And then so, yeah, quickly roped back into operations.

43:25 Speaker 0: You know, the the comment you made about having your hands and many things. Speaker 0: Part of that is just we're a small team. Speaker 0: We're a small we're a star. Speaker 0: Yeah. Speaker 2: It's not a negative. Speaker 2: It's more of just to make sure thing is moving the way that we Speaker 2: intended it to originally move. Speaker 2: And if we need to change, change, and, you know, fill in the holes. Speaker 2: I think there were just some holes, and it was okay to say you Speaker 2: of all people know where these holes need to get filled. Speaker 2: So just take a look. Speaker 2: And so it's not a negative. Speaker 2: I I love doing what I do. Speaker 2: That's why I'm here. Speaker 2: So it it definitely was that. Speaker 2: And, you know, we've had some personal changes. Speaker 2: We've had a lot, I guess, over the course of VIFY's existence, Speaker 2: myself included, which I never thought I'd be on the list. Speaker 2: But, it's really just, again, I knew I Speaker 2: we originally want to start this.

44:09 Speaker 2: So it was plug and play, and I fill in anywhere I can. Speaker 0: Absolutely. Speaker 0: So now I mean, with the turnover and things, look, hiring Speaker 0: is a real it's a difficult difficult thing in in a small business Speaker 0: or any any business. Speaker 2: Not our favorite. Speaker 0: It's and and your people are critical. Speaker 0: Like, your your team members are everything. Speaker 0: So if you pick the wrong person or just doesn't work out, it can Speaker 0: really end up hurting you. Speaker 0: So, we've it's it's another area. Speaker 0: I think we've come a long way with, as far as lessons learned in Speaker 0: hiring the right people and also getting them in the right seats on the Speaker 0: bus. Speaker 0: So talk to us about the last six months, specifically Speaker 0: with Bifi.

44:52 Speaker 0: What improvements have been made and and what's looking good. Speaker 2: So we have cleaned up a lot, a lot of missing information, a lot Speaker 2: missing data answered a lot of questions. Speaker 2: Lenders, you know, they were lacking a lot of communication. Speaker 2: So that was the biggest thing about Bifi, like, why we want to be Speaker 2: different. Speaker 2: Nobody communicates and with, you know, the kind of downfall of everything Speaker 2: communication stopped too. Speaker 2: So it was trying get everybody back up to speed and get these lenders, Speaker 2: the customer service that they deserve. Speaker 2: So that was a big push. Speaker 2: We recently just went back to our weekly summaries. Speaker 2: So that it hopefully eliminates some, like, questions that lenders, you know, wouldn't are Speaker 2: naturally asking right now because they're not getting that communication.

45:34 Speaker 2: We've definitely had personnel changed. Speaker 2: So we have a lovely new CEO, mister Baconman, Speaker 2: which I think made a really big change, in the time Speaker 2: couple of months, I think that was needed, to have you Mhmm. Speaker 0: A Speaker 2: founder in the driver's seat. Speaker 2: We definitely, you know, cleaned up with staff and kind of rearrange and made Speaker 2: sure that we got the right people in the right seats on the right Speaker 2: bus. Speaker 2: We fortunate enough to get another employee to come back, and join us. Speaker 2: So I was very, very, very, very, and will forever be grateful for that, Speaker 2: because I don't know how far we would have gotten without her either. Speaker 2: I don't wanna take all the credit for, you know, helping this either because Speaker 2: it's not just me. Speaker 2: It's everybody. Speaker 2: And then we definitely leaned on some resources that you know, we weren't always Speaker 2: aware were available to us to help us grow and be better Speaker 2: and get back on the track of success and being the Speaker 2: servicing company that we wanna be.

46:26 Speaker 2: And I think that we would not be having this conversation today Speaker 2: if we didn't have the resources that we do have. Speaker 0: Yeah. Speaker 0: Absolutely. Speaker 0: And there's been not only team member turnover, but we Speaker 0: have we have had some changes on ownership side as well. Speaker 0: And, as of today, we can't get into too many specifics with Speaker 0: regard to the ownership and and, but Speaker 0: suffice it to say that in December, things really took a turn for the Speaker 0: better with Bifi and our, like you said, our resources Speaker 0: the financial resources that we have backing the company. Speaker 0: And, you know, just looking back from a from a founder's Speaker 0: standpoint, you know, I think one of the mistakes Chris and I made Speaker 0: was Speaker 0: at times, being too passive.

47:14 Speaker 0: We thought, oh, we can invent we're investors. Speaker 0: We invest some money in this in this, this company, and then it just Speaker 0: grows and we ten x our money. Speaker 0: And that oh, sounds great. Speaker 0: Nope. Speaker 0: Well, that that's great if it's a a if it's a functioning operation that Speaker 0: we're buying, like, buying an existing company, but when it's a startup, like, Speaker 0: you know, so many challenges. Speaker 0: So Yes. Speaker 0: I did, personally I got a business coach. Speaker 0: He's been on on the podcast as well, Chris Steer. Speaker 0: One of the first things he did for me was, say, he restructured re Speaker 0: restructured my own weekly calendar together and and Bifi became the Speaker 0: focus. Speaker 0: This was before I formally came back, came in as CEO.

47:55 Speaker 0: And so I started to make WiFi every morning. Speaker 0: That's what I'm focused on. Speaker 0: And so not trying to make the episode about me, but you are right. Speaker 0: I've I've made a very big concerted effort just individually Speaker 0: to be much more actively involved in overseeing Speaker 0: the the company and, getting you what you Speaker 0: need, you know, because you're you are the servicing expert, and your team Speaker 0: members are are obviously experts at at certain parts of the servicing Speaker 0: as well. Speaker 0: But I've personally gotten much more involved and and I feel like we've we've Speaker 0: really made a ton of progress in the last six months, specifically. Speaker 0: And I'm I'm really excited about the future.

48:37 Speaker 2: I am so excited about the future. Speaker 2: Watching how things have moved. Speaker 2: I know that there we definitely had some worrying concern, and I'm not gonna Speaker 2: lie about it. Speaker 2: There was a genuine fear, at one point as to where is this going, Speaker 2: what are we doing? Speaker 2: And Speaker 2: I we always talk about the light at the end of the tunnel. Speaker 2: And more recently that the this light is not far. Speaker 2: And I, as of, like, the past, like, realistically past, like, two, three weeks, Speaker 2: I think I've actually realized Shante, this is happening. Speaker 2: Like, this is working. Speaker 2: Like, this is these are positives. Speaker 2: I think we've been so used to being on edge that for now it's, Speaker 2: like, We so we're changing so many things to be successful, to be Speaker 2: the servicing company that we wanted to always be and to do the things Speaker 2: that we wanna do correctly.

49:25 Speaker 2: And so for me, it's it's exciting Speaker 2: because I don't know if we had this conversation a year ago, you know, Speaker 2: if we would be saying the same thing. Speaker 2: And none of us saw this coming. Speaker 2: But I I'm along for the ride, and I'm here to stay. Speaker 2: There will not be any more shantae mental states. Speaker 2: Again, the boundaries help with that. Speaker 2: So that's been working for me at least for the better part of, you Speaker 2: know, a year. Speaker 0: Absolutely. Speaker 0: And I think taking the long term view is is critical. Speaker 0: Because we can all grind. Speaker 0: We can all have stressful, like, difficult weeks and work sixty, seventy Speaker 0: hours. Speaker 0: That's fine for period of time. Speaker 0: That doesn't that it doesn't work in the long term.

50:05 Speaker 0: And it doesn't do anything for you as a mother or you know, the Speaker 0: the other parts of your life. Speaker 0: So, Speaker 0: couldn't agree more. Speaker 0: I I'm I I don't know. Speaker 0: I mean, honestly, a few months ago, I think people were looking Speaker 0: from the outside in thinking, Speaker 0: you know, there's a fine line between, Speaker 0: sort of stick to itiveness and and just stupidity or stubbornness. Speaker 0: And and I Yep. Speaker 0: I know I just I knew that we we hadn't We'd never Speaker 0: really done full marketing campaign. Speaker 0: We'd never there were so many things we hadn't actually done. Speaker 0: So I felt like we still had a chance. Speaker 0: And, Speaker 2: We just needed some time. Speaker 0: We just needed some time and and the right relationships and and some things Speaker 0: connected through Speaker 0: some relationships, and and we've got, like you said, a a lot Speaker 0: more resources now just financially also, Speaker 0: system wise that we're able to plug into as well as just Speaker 0: expertise on, servicing that, you know, Speaker 0: other parts of servicing that we maybe we're not experts in.

51:12 Speaker 0: Right? Speaker 0: So just being able to have that backstop, has been phenomenal Speaker 0: for, like you said, me to be able to take a breath and and Speaker 0: say, okay. Speaker 0: If we're gonna do this long term, which I am excited to say Speaker 0: that that I truly believe we're gonna be a big success long term. Speaker 0: You gotta be able to take a step back, take a breath, take a Speaker 0: break, take a day off. Speaker 0: So before I get to my rapid fire questions before we we close-up, Speaker 0: what's one or two lessons you'd you'd or takeaways for Speaker 0: a single mom out there who wants to start a business? Speaker 0: Which Do it. Speaker 2: Do it. Speaker 2: First thing I'm always and I say this to my friends now Some of Speaker 2: them are single parents as well.

51:54 Speaker 2: They're having newborns, so I'm definitely a decade plus ahead of them. Speaker 2: But do it. Speaker 2: Take the take the leave because it's worth it. Speaker 2: I think as a human being, as a woman, as a mother, I've grown Speaker 2: so much. Speaker 2: I've grown so much in the past three years than I have in the Speaker 2: past ten. Speaker 2: And that I like who I am today. Speaker 2: I love who I am today. Speaker 2: And I'm realizing that I once you get just stay Speaker 2: organized, that's the hard I think that's really where I kinda just went down Speaker 2: the drain is trying to juggle and staying organized. Speaker 2: Yes. Speaker 2: There are gonna be times you have long nights. Speaker 2: Yes. Speaker 2: Your kids get sick. Speaker 2: Like, it happens. Speaker 2: I had a huge incident with my son earlier this year, and we're still Speaker 2: battling through it. Speaker 2: Things happen. Speaker 2: But don't let it run you and don't let it stop you.

52:38 Speaker 2: Because at the end of the day, I just look at this, hey, Chantae, Speaker 2: you're working to create something successful. Speaker 2: You want your kids to look up to you and be proud. Speaker 2: You know, my son knows they'll monitor you. Speaker 2: Yep. Speaker 2: You're working behind your computer. Speaker 2: You're working like he knows. Speaker 2: And it makes me feel good when I hear him talking to other like, Speaker 2: oh, well, my mommy works behind it. Speaker 2: Like, he doesn't know what I do. Speaker 2: But he knows I work behind a computer and then I talk to people, Speaker 2: and he thinks that I'm just helping people, which essentially I am. Speaker 2: That's how I helping. Speaker 0: Sure. Speaker 2: It it it's something like in your core that it it ignites Speaker 2: that you don't even know that you have. Speaker 2: So don't stop. Speaker 2: It's hard. Speaker 2: I will I will put this on everything. Speaker 2: This is the hardest thing I've ever done in my life, raising a child, Speaker 2: as well as starting a business at the same time simultaneously and maintaining Speaker 2: that.

53:23 Speaker 2: But it's not as bad. Speaker 2: You have to go through hurdles. Speaker 2: That's life. Speaker 2: You have to go through these these feed bumps and things like that. Speaker 2: But don't Sure. Speaker 2: Give up and don't pass opportunities. Speaker 2: Even I mean, my story had an opportunity, got to a point where I Speaker 2: was like, I can't do this. Speaker 2: I left. Speaker 2: The opportunity came back. Speaker 2: It's like, no, no, Shanday. Speaker 2: Like, you're still supposed to be here at this point. Speaker 2: And there's reasons and seasons I go by ever think the world Speaker 2: works in a weird, mysterious way. Speaker 2: Everything happens for a reason. Speaker 2: And I'm I was supposed to go through that. Speaker 2: I was. Speaker 2: Yeah. Speaker 2: And that that was my path. Speaker 2: And I'm still on my path. Speaker 2: That doesn't end until I'm I'm not here, but just just go Speaker 2: with it trust your gut, trust yourself, and just remember there's always a bigger Speaker 2: picture.

54:06 Speaker 2: It's to get to a point where you can, you know, some people, it's Speaker 2: financial security. Speaker 2: Some people, it's to leave to their children, whatever it is, don't shy away Speaker 2: from that. Speaker 0: That's really good. Speaker 0: Well, I can say it's not only your son who's proud of you. Speaker 0: My daughter is also very proud of you. Speaker 2: Tally, they have to make a trip down there and actually meet her. Speaker 0: She doesn't. Speaker 0: I don't think she ever listens to podcast, but I'm I'm sure she'll listen Speaker 0: to this one. Speaker 2: She does the last one. Speaker 0: Alright. Speaker 0: So you're ready for some rapid fire questions? Speaker 2: Yes. Speaker 2: I guess. Speaker 0: If you could go back and give your eighteen year old self some advice, Speaker 0: what would it be? Speaker 2: You're stronger than you think.

54:47 Speaker 0: Love that. Speaker 0: Really good. Speaker 0: If you were given ten million dollars tomorrow, what would you do with it? Speaker 2: I'm buying a house first for me, my kid. Speaker 2: I'd invest in notes. Speaker 2: This is what I love as well as I get back. Speaker 2: I want to do more for, like, autism research and things like that. Speaker 2: I want to understand things better. Speaker 2: I'm really intrigued by the human mind, and how it works. Speaker 2: So I would give back. Speaker 2: I would invest to keep the investments going. Speaker 2: I would never give up my job. Speaker 2: I don't care if I won the lottery or anything, I would stay. Speaker 2: That's I'm not that person. Speaker 2: I I like working. Speaker 2: So Speaker 0: Love it. Speaker 0: If you could have coffee with any historical figure, who would it be?

55:27 Speaker 2: Oprah Winfrey. Speaker 0: I think you said that last time. Speaker 2: I definitely did, and I'm gonna stand on that until the day it actually Speaker 2: happens. Speaker 2: That's a goal, except for myself. Speaker 0: Not a bad choice. Speaker 0: Yeah, I just heard a a podcast. Speaker 0: I may have sent it to you, actually, the happiness. Speaker 0: It was with the the diary of a CEO. Speaker 0: He had a happiness expert on it. Speaker 0: Oprah had actually reached out to this guy because he had a regular column Speaker 0: that he wrote. Speaker 0: And Oprah called him up and said, we need to do a book together. Speaker 0: So maybe one day she'll call you up to do a book. Speaker 0: I'm just Speaker 2: gonna call her not to find her. Speaker 2: Not her front door. Speaker 0: What is the challenge that you're facing in your business right now?

56:10 Speaker 2: High management. Speaker 2: That's the god's honest truth. Speaker 2: I just I I know where we're going, and so it's all up Speaker 2: in my brain. Speaker 2: And it's exciting and the wheels are moving, but it's, like, Shanti thinks take Speaker 2: time. Speaker 2: And having to accept that things take time, I'm not a patient Speaker 2: person. Speaker 2: I'm naturally And I'm learning a lot about myself. Speaker 2: You know, I just took this assessment, which I read through. Speaker 2: And Speaker 2: it's exciting, but it it it's true. Speaker 2: And scary at the same time, but it leads me to Speaker 2: improve. Speaker 2: And I I'm young. Speaker 2: I I have so much life to live and so much more of my Speaker 2: career that I haven't seen yet. Speaker 2: You know?

56:51 Speaker 2: So it's I need to really work on my time management a little bit Speaker 2: better, but I think that we're already kinda working on that. Speaker 2: And I'm kinda, you know, getting used to delegating a little bit more and Speaker 2: passing stuff off. Speaker 2: And it's the boundary setting. Speaker 2: So Speaker 0: Sure. Speaker 0: How about a book or two that you could recommend? Speaker 2: I don't really read too often. Speaker 2: I'm not gonna lie. Speaker 2: I'm more like a I'll read an article. Speaker 0: My podcast Speaker 2: or The podcast that you actually shared with me I am drawing the biggest Speaker 2: blank of the day. Speaker 0: I listened to it. Speaker 2: Yes. Speaker 2: I love her. Speaker 0: Forget that. Speaker 2: Like, I would love to meet her and somehow talk to her person. Speaker 0: Yeah. Speaker 2: I was intrigued. Speaker 2: I'm still intrigued. Speaker 2: I'm still listening. Speaker 2: I, I just I listened to podcasts more than anything.

57:31 Speaker 2: Not always business related, though. Speaker 2: Sometimes I just need, like, sound claim. Speaker 2: Yep. Speaker 2: So I'm a I'm a true crime junkie as well. Speaker 0: So This has been awesome. Speaker 0: I mean, a few quick takeaways, I think, boundaries, you Speaker 0: know, that's been critical in our discussion today. Speaker 0: And, obviously, in your your the the work you did on yourself, Speaker 0: just setting boundaries, prioritizing, Speaker 0: taking a long term view, realizing that there's a bigger picture Right? Speaker 0: There's a it's it's not just when you're going through a really hard time, Speaker 0: it's easy to get super caught up in just that and that stress. Speaker 0: And it's it's a big deal, of course. Speaker 0: Right? Speaker 0: But it will pass, and there's a Speaker 2: It does pass.

58:13 Speaker 2: Even though you suck, it doesn't. Speaker 2: It does. Speaker 2: I mean, how many times do I tell you? Speaker 2: I can't do this if I do the next thing. Speaker 2: Like, today's a great day. Speaker 2: It have Like, Speaker 0: I'm just I'm just not gonna talk. Speaker 0: I'll give her I'll Speaker 2: let her be. Speaker 2: Yep. Speaker 2: Yep. Speaker 2: It it that's that's how it is. Speaker 0: I think we all get like that on some level, but awesome, Shante. Speaker 0: This has been great. Speaker 0: For our listeners out there, where can they how can they find you? Speaker 0: Where can they reach out to you? Speaker 2: You can find me on LinkedIn. Speaker 2: You can find me on Facebook, shantae Duffy. Speaker 2: That's my name. Speaker 2: You can also email me at s duffy at wifi ls Speaker 2: dot com, or if that's easier, Speaker 2: I won't leave the phone number. Speaker 2: It's online. Speaker 2: You could visit the website by file s dot com, and it has our Speaker 2: contact information and email addresses there as well.

58:59 Speaker 0: B I f I l s dot com. Speaker 0: Any private lenders, note investors, hard money lenders, Speaker 0: any mortgage holders. Speaker 0: We, commercial. Speaker 2: We started taking those in recently. Speaker 2: So Speaker 0: Absolutely. Speaker 0: So don't hesitate to reach out. Speaker 0: Shante, this has been great. Speaker 0: Thank you so much. Speaker 0: I know you said you're struggling Speaker 2: with Thank you for having me. Speaker 0: You're improving with time management, so we do know that you're time is very Speaker 0: valuable. Speaker 0: So we appreciate you taking an hour out to to talk with Speaker 0: us today. Speaker 0: So thank Speaker 2: you. Speaker 2: Anytime. Speaker 0: And to the listener out there, thank you for spending your most valuable resource Speaker 0: with us, and that is your time. Speaker 0: Thanks, everyone. Speaker 0: Take care.

59:39 Speaker 1: Thank you for spending your most valuable resource with us. Speaker 1: Your time. Speaker 1: If you like the show, please share it with your friends and fellow podcast Speaker 1: listeners. Speaker 1: One entrepreneur at a time, we can change the world. Speaker 1: See you next time.