Pinky Cole Breaks Down Filing for Bankruptcy, Losing $100M Business — And Blueprint to Build It Back

Summary

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Earn Your Leisure Podcast

Episode: Pinky Cole Breaks Down Filing for Bankruptcy, Losing $100M Business — And Blueprint to Build It Back

Release Date: April 2, 2026
Hosts: Rashad Bilal & Troy Millings
Guest: Pinky Cole (founder of Slutty Vegan)

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Episode Overview

In this powerful and candid episode, Pinky Cole, founder of the famed Slutty Vegan, returns to Earn Your Leisure after a tumultuous year rocked by the bankruptcy and restructuring of her $100M business. She openly discusses the emotional, financial, and operational challenges she faced, her blueprint for rebuilding, and her new chapter as a cast member on "The Real Housewives of Atlanta." Pinky provides practical financial education around bankruptcy, lessons on business resilience, and the importance of purposeful entrepreneurship, all while maintaining her signature authenticity.

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Key Themes & Discussion Points

1. The Fallout: From $100M Brand to Bankruptcy and Back

• Loss and Recovery: Pinky details the emotional and practical realities of losing ownership of Slutty Vegan and having to buy it back post-restructuring.
  • "I built a $100 million brand that became a household name...all of these accomplishments, just to wake up and not own my company no more." (14:51)
• Bankruptcy as Strategy: She emphasizes that bankruptcy isn't just for the broke—it's a business tool for protection and reorganization.
  • "There is no shame in filing bankruptcy. You are reorganizing." (08:26)

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2. Navigating Public Scrutiny and Social Media

• Reality TV & Public Life: Pinky’s choice to join "Real Housewives of Atlanta" means more of her life and challenges play out publicly.
  • "When you decide to do reality TV, it is reality." (06:33)
• Social Media Reactions: She addresses rumors about her bankruptcy and jokes about 'eviction' to reclaim the narrative.
  • "What you saw on the internet really was me trolling the internet back." (08:23)
• Culture of Critique: Pinky discusses how social media fuels both support and criticism, and how she’s built resilience.
  • "Sometimes we got a crab in a barrel culture...but there are people who actually root for you." (40:20)

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3. Legal Education: Demystifying Bankruptcy

• Bankruptcy Explained: Pinky breaks down the different bankruptcy chapters (7, 11, 13), their purposes, and why she filed Chapter 11 to protect her assets.
  • "Bankruptcy is, if you have more debts than you have revenue...the U.S. Bankruptcy code has provided you tools to be able to fix the problem." (26:31)
• Automatic Stay: She describes how legal protections prevented creditors from seizing her property.
  • "When you file for bankruptcy...that means nobody can touch you. Creditors can't come after you." (10:48)
• Notable Example: Pinky recounts a key legal battle over her investment property and the importance of being legally informed.
  • "If I didn't know that...they could have taken the property. That's why education is so critical." (12:11)

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4. Mental Health, Relationships, and Resilience

• The Personal Toll: Pinky speaks frankly about the depression and emotional hardships she faced, including impacts on her marriage.
  • "I had a lot of nights where it was just me and my pillow and, God. My husband could be laying right beside me...nobody understands what it feels like when you're fighting for your life, but you got to show up and put a smile on your face." (19:50)
• Importance of a Support Network: She credits mentors, friends, and spiritual faith for helping her through setbacks.
  • "My advice...you've got to make sure that you have the right people around you...because we all have a crunch." (23:17)
• Shifting Goals: After everything, she finds herself valuing peace over just building a billion-dollar company.
  • "It's not the money that I want. It's what the money can provide—the peace, the freedom." (24:23)

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5. Business Lessons and Blueprint for Rebuilding

• Operations Are Everything: Pinky confesses that lacking the right operational leadership contributed to her struggles.
  • "You can have a Bentley...but if you don't have no engine in that Bentley, then where you gonna go? You are only as good as your operations." (50:40)
• Growth Mistakes: Rapid expansion without a solid operational foundation led to higher costs and mismanagement.
  • "People will take advantage of you if you do not know...There are people who are predatory when it comes to green entrepreneurs." (52:38)
• Team and Structure: She emphasizes the need for competent, boots-on-the-ground executives, and letting go of people past their expiration date.
  • "People stay past their expiration date. For a very long time, I led with my heart...but leading with your heart can also make you go broke." (32:39)
• Advice for Young Entrepreneurs: Doing every role is inevitable at the start, but scaling requires focus, learning, and expertise.
  • "For a certain period of time, you gon' have to do HR, you gon' have to be an accountant...but eventually, you will be stretched." (56:22)
• Pitfalls in the ‘Social Media Business Era’: Many believe they're running businesses but skip foundational steps because of social media shortcuts.
  • "It allows you to make money from your Instagram page...but you really don't [have a business] because you never had to go through the stages of building the foundation." (58:19)

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6. New Ventures & Next Steps

• Reality TV as a Visibility Engine: Pinky frames her move to "Real Housewives of Atlanta" as a way to diversify her brand’s exposure, not just for drama but for authentic storytelling.
  • "There's a money engine and there's a visibility engine. You need at least one." (17:33)
• Education Platform - 'Pinky Piggy Bank': Announcement of a forthcoming YouTube series in partnership with Earn Your Leisure, using music and humor to teach financial literacy at a fifth-grade level.
  • "We're going to be teaching entrepreneurship through music... I'll use our favorite songs and translate things like LLCs, safe notes, equity, and cap tables." (61:44)
  • First episode airs April 17th, 2026.

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Notable Quotes & Memorable Moments

• On Resilience:
  • “I didn’t fell on my face 10,000 times, okay? But I also got back up 10,300 times." — Pinky Cole (12:13)
• On Purpose:
  • "Maybe it's bigger than Slutty Vegan. Maybe I'm just a vessel...to show people how to operate in business." — Pinky Cole (13:02)
• On Leadership:
  • "Leading with your heart is a great thing, but leading with your heart can also make you go broke." (32:39)
• On Bounce-Back:
  • "I'm the bounce back queen, okay? It's giving biggity, biggity bounce." (35:15)
• Faith & Spirituality:
  • "God is the visual merchandiser to put me on that level of display...entrepreneurship is a very spiritual practice." (37:22-38:30)
• On Education and Mentorship:
  • "If you’re in a room with me and you don’t learn something, something’s wrong." (37:22)
• For Fellow Entrepreneurs (closing message):
  • "You are looking at somebody who has experienced loss, but also somebody who has experienced faith...God will give you back everything you lost, times ten." (66:26)

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Timestamps for Key Segments

• 00:42 – Pinky’s brand and the beginning of her public bankruptcy journey.
• 04:41 – Evolution of Slutty Vegan, the metaphor of business life cycles.
• 06:33 – Impact of joining "Real Housewives of Atlanta" and handling privacy loss.
• 08:26 – Bankruptcy as a legal tool and why it was the right decision for her.
• 10:48 – Explanation of the automatic stay in bankruptcy cases.
• 14:51 – Emotional toll: “I almost lost my mind. You ever lost a $100M business?”
• 19:50 – Mental health discussion; resilience and the stress on her marriage.
• 24:23 – What Pinky has learned and what she values now as an entrepreneur.
• 26:31 – Breaking down types of bankruptcy and their use for entrepreneurs.
• 32:39 – Why heart-led decisions can make or break your company.
• 50:40 – The importance of operational leadership to a business.
• 61:44 – Pinky Piggy Bank: The new YouTube financial literacy series announcement.
• 66:26 – Inspirational closing message to entrepreneurs about faith and perseverance.

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Episode Takeaways

• Bankruptcy is a tool, not a death sentence: Especially for entrepreneurs, understanding the law and using it to restructure and protect assets is crucial.
• Resilience and adaptability matter most: Setbacks are part of the game, but being willing to rebuild and learn ensures longevity.
• Strengthen your operations: Popularity and buzz aren’t enough without strong back-end systems, processes, and leadership.
• Keep evolving and keep learning: Even as a seasoned entrepreneur, Pinky stresses the need to always be a student of the game.
• Faith and support are fundamental: The right people and a strong spiritual foundation help sustain entrepreneurs through dark times.
• Share your journey for the culture: Pinky is transparent about her setbacks and triumphs to create a blueprint others can learn from.

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This summary captures Pinky Cole’s journey, lessons, and her empowering message, serving as both a cautionary tale and a source of inspiration for entrepreneurs at every level.

Transcript

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This week on a special episode of WebMD's Health Discovered podcast, we're taking a closer look at a common form of lung cancer that accounts for 85% of all cases.

[Pinky Cole]

When I first heard the words you have lung cancer, I was in shock.

[Podcast Host/Producer]

It's a diagnosis that changes everything. So what does it really mean to advocate for yourself when you're living with non small cell lung cancer? Listen to Health discovered on the iHeartRadio app, Apple Podcasts or wherever you get your podcasts, but the 100 million dollar

[Pinky Cole]

brand that became a household name. All of these accomplishments just to Wake up and not own my company no more.

[Podcast Interviewer 1]

There was talk that you got evicted because of a bankruptcy. What happened? What's going on?

[Pinky Cole]

I almost lost my mind. You ever lost $100 million business? My old creditors were coming after me because I was the personal guarantor. This is no longer private information.

[Podcast Interviewer 1]

What challenges did you go through? How did you get out of that? Did you seek therapy?

[Pinky Cole]

Nobody understands what it feels like when you literally fighting for your life, but you got to show up and put a smile on your face. The messaging was, I'm building a billion dollar company, but it's not the money that I want. It's what the money can provide. When you get there, it's like, okay, this is it.

[Podcast Interviewer 2]

What's the most important thing you learned about?

[Pinky Cole]

Leading with your heart is a great thing, but leading with your heart can also make you go broke.

[Podcast Interviewer 1]

What is your thought process on actually signing up for a reality show?

[Pinky Cole]

When you think about the leverage that platforms like these bring, My reasoning wasn't just one thing.

[Podcast Interviewer 2]

I don't think I've ever seen anybody like you on the show.

[Pinky Cole]

You can have a Bentley, but if you don't have no engine in that Bentley, then where you gonna go?

[Podcast Interviewer 1]

All right, guys. Welcome back. Atlanta edition. We got a special guest. Really needs no introduction at this point. I mean, strategies, talking about all the stuff that we've done with her shows and events and so much stuff. Pinky Cole, a legend in the game when it comes to entrepreneurship and motivation and spreading game. Slutty vegan has really, like, been a staple in the community and really had so many different stages. I feel like slutty vegan has, like, had life stages.

[Pinky Cole]

It's like a baby girl. Right.

[Podcast Interviewer 2]

We've done seen every stage from the first time that Mike told us about it and told us about the lines to the rope to the expansion. I feel like every stage, like we

[Pinky Cole]

sit down with you about it's like the life cycle.

[Podcast Interviewer 1]

Yeah.

[Pinky Cole]

You know what I'm saying? So I don't know. I just. When I think about my business. Did I miss your intro?

[Podcast Interviewer 1]

No, no, no, no. If you need no introduction, you're more

[Pinky Cole]

of When I think about it's fun. The reason why I said that because you said something about a life cycle. So just like a baby learns how to crawl, then learn how to walk. And within a process of learning how to walk, sometimes you will fall, Right. And then you need some assistance sometimes. And then you get back up and you get stronger and you get stronger from every single bump and Bruise. And that's similar to what slutty vegan has been for me as an entrepreneur. And I feel like it is the quintessential example of, like, what really happens in entrepreneurship, because everybody doesn't talk about the parts that I'm willing to talk about. So I'm happy to be able to share every single phase of that with y'. All.

[Podcast Interviewer 2]

So isn't that even just a microcosm for business? Yeah, right. When we think about our businesses, we've been for eight years, and in terms of life, you're still a child, so there are things you need to learn until you get to that adulthood. And so we learn them together.

[Pinky Cole]

We learning them together. And I would not change a fool but girl oh, Lord and no, I

[Podcast Interviewer 1]

would not well, thank you for joining us. Always, Always a pleasure. So we got a lot to talk about. We're going to talk about, you know, everything. The reality show aspect of it that caught a lot of people by surprise. But first, I know last week you won a court case. So the social media, we got to. We got to address that, because that's something that's been going viral. There's been a few things happened on social media, but one of the things that's happening is there was talk that you got evicted from your house.

[Pinky Cole]

Yes.

[Podcast Interviewer 1]

Because of a bankruptcy that you. You've been very public about, you know, filing bankruptcy. We could talk about that. But there was a video. I thought it was a comedy video. The way it was shot. I'm not sure if it was or not. And then there was rumors of, well, where's her husband at? How is this happening? Da, da, da, da. Like, how. So what happened? What's going on?

[Pinky Cole]

You know, it's so funny because when I think about my decision to join Real Housewives of Atlanta, I already knew what I was signing up for. When you position yourself to be on a public platform, people are going to find out things about you. So prior to me making the decision to go on the show, I had a hard conversation with myself and with my family and, like, okay, y' all understand that, like, this is no longer private information. Like, we're public figures now, but, like, everything that you say and do will be in the public eye. So when you decide to do reality tv, it is reality. And, you know, y' all just said it just now. You know, my business has been through so many life cycles, so that is a part of my reality. So what's happening is social media is putting a magnifying glass on the things that I've already been going through privately as an entrepreneur, which I've spoken about publicly. You know, the last time that I came here, you said I cried. Which time?

[Podcast Interviewer 2]

That was the pregnancy episode.

[Pinky Cole]

Okay. That was pregnancy, too. It was a lot.

[Podcast Interviewer 2]

That was powerful. That was powerful.

[Pinky Cole]

Thank you. So let me tell you, when I came on that show the last time, a lot has happened since then. We talked about building a business, and then I came again and had to restructure my company, $20 million in debt, having to start over, buying my company back, having to face public scrutiny. So here it is, super successful entrepreneur, having to stand on a cross and be publicly judged for who I am as an entrepreneur, and just most recently filing that bankruptcy. So what you saw on the Internet really was me trolling the Internet back.

[Podcast Interviewer 1]

So that was a joke.

[Podcast Interviewer 2]

That was a joke with a suitcase.

[Pinky Cole]

Because basically what I said is, you know, what I realized is a lot of people don't understand that the US Bankruptcy Code is a tool, Right? It is a tool to be able to reorganize and do whatever it is that you need to do. If you come into financial strengths in your business, and when people make a certain kind of money, you make a certain kind of revenue, or you reach a certain milestone, and you do start having troubles, financial troubles in your business, you got options, but we often don't talk about those options. So when I made the decision to file for bankruptcy personally, I filed for bankruptcy because I knew that it would protect me and my assets because my old creditors were coming after me, because I was the personal guarantor. I don't know if you saw a clip that I said. I think it was at Invest Fest when I said, don't sign as a personal guarantor. Do y' all remember that clip? It went viral. And everybody's like, why would she say that? It's because of that. And now when I look back, I'm happy that I did it, because there is no shame in filing bankruptcy. You are reorganizing. So when I did that video, I was really trolling the people back. And then, you know, the Ms. Rachel video, teaching people about bankruptcy. But I just knew that people didn't understand. Now, when you asked me about what happened recently, I did win a court case. I have a tenant moving into a property, one of my investment properties. And my Realtor called me and said, hey, the doors or the lots are changed on the door and you can't get inside. I'm like, what are you talking about? I called my mortgage company. They Said, well, this is not us. Like, we don't understand. I got an automatic state. If you know anything about bankruptcy, and automatic state is that they cannot touch your assets. So my attorneys went down to the courts, filed an emergency judgment, and for a couple of days, I was fighting. And, you know, last week I won my property back. And I'm just so happy that I did, because people really don't understand the law. What is that?

[Podcast Interviewer 1]

Creditors.

[Pinky Cole]

So what happened was, is the property was vacant and it has a mortgage on it. So if the property is vacant and they think it's abandoned, they can take the property. Right. So this doesn't have anything to do the credit the creditors. You don't even know who. The creditors never responded. They never showed up to court. They never did anything like that. So we don't even know why they took the property. But it was illegal that they took the property because I was in an automatic stay.

[Podcast Interviewer 1]

What is an automatic stay?

[Pinky Cole]

So when you file for bankruptcy. So say you file for bankruptcy today, so you like, all right, I got a restructure. My business is going through some challenges or changes, or I'm just in a deficit. I have to pause everything. You file for bankruptcy, and the day that you file for bankruptcy, that means nobody can touch you. Creditors can't come after you. It literally halts every single thing that happens in your business as it relates to creditors coming after you, which is a protection for you. So if you got. If you. Somebody like me, I got a lot of assets, right. I have a lot of things that's worth a good amount of money. So when you have an automatic stay, it protects all of those things. Nobody can take your properties from you. Because I was a guarantor on these properties, these creditors can't come after me to take the properties that I have. So if you were to do that, it's completely an automatic stay, and they can't take anything from you.

[Podcast Interviewer 2]

So. So what happened wasn't it, they violate a legal seizure of your property that you now got back?

[Pinky Cole]

Yeah. So I filed for bankruptcy on February 12. The creditors changed the loss on the 20th. So by bankruptcy law, that is illegal.

[Podcast Interviewer 2]

Right.

[Pinky Cole]

And because it was illegal, I got awarded legal fees because they did the wrong thing.

[Podcast Interviewer 2]

So they have to pay you now?

[Pinky Cole]

They have to pay my attorney's fees.

[Podcast Interviewer 1]

Okay, but if you didn't know that, could they have taken the property?

[Pinky Cole]

Yeah, they could have. If I didn't know that.

[Podcast Interviewer 1]

If you didn't challenge them.

[Pinky Cole]

Yeah, if I didn't challenge them, yes, they could have Taken. That's why education, that is why education is so critical. Listen, I have learned so many lessons in entrepreneurship. I didn't fell on my face 10,000 times, okay? But I also got back up 10,300 times, you know what I'm saying? And every single time that I get up, I learn a new lesson. Every single time I fall on my face, I get smarter. So to some people it may look like, oh, she failed or she fell on her face. When it's happen, no, this is the knowledge that money can't even pay for. So now I can educate other people because of the things that I've gone through. And I wouldn't say I'm the sacrificial lamb, but being a public facing entrepreneur with a very popular business with lines still down the block, people still supporting my brand, I have gone through some challenges. But with those challenges come lessons that I can teach other entrepreneurs, like, hey, don't do that, or hey, if you need to restructure, it's okay, or hey, if you need some help, here's the resources. But we really don't often find that, except for from y', all, to be honest. But where else do you really get that? So I'm happy that, you know, I was talking to my friend the other day and I said, sometimes God will put you on display. And being on display may feel uncomfortable. And in that level of being uncomfortable, you are going to inspire so many people. You are going to educate people who have never in their life believed that they could understand the concept of entrepreneurship in a way that makes it easy. Because think about it, we entrepreneurs, people don't know about cat tables. They don't know about equity safe notes. You know, a good amount of us do, but there is a whole majority of people that don't even know that language. You understand what I'm saying? So now I'm like, all right, well, maybe it's bigger than slutty vegan, right? Maybe it's bigger than just me. Maybe I'm just a vessel to be able to show people by way of my personal and professional experiences that this is how you operate and not operate in business. And it's showing up like that. And maybe, maybe that's purpose work. And I'm walking into that. I'm following.

[Podcast Interviewer 1]

Yeah.

[Podcast Interviewer 2]

When I look at you, I often think of vessel.

[Pinky Cole]

Thank you.

[Podcast Interviewer 2]

I think vessel, like you're going through things because you're going to be the person that can teach people. I wonder, do you take time inside of it as you're learning the lesson, do you take time to say, okay, let me deal with it before it's like, let me just teach people what's really happening. Because I feel like with you, it's like, oh, no. You have this gift where it's like, now I'm turning this tragedy into triumph. This is a learning. Watch how we flip this. That is the Ms. Rachel clip. Do you take time in between? Or it's like, I gotta. I've learned this. Let me tell everybody what they need to know.

[Pinky Cole]

When I restructured my company, I almost lost my mind. I almost lost my. You got to imagine, I built $100 million brand that became a household name, Grace the covers of all of these magazines, all of these great things, all of these accolades, all of these accomplishments, just to wake up and not own my company no more. So that's a very dark room to sit in. You understand what I'm saying? So I don't know, for the people who are watching this, if you've ever lost your business, if you've ever had to file for bankruptcy, if you've ever had to face public humiliat, if you ever had people who you've respected turn their back on you where you needed them the most. So I had to sit inside of myself, just me and God, for a very long time. And in. In that sitting was my pruning period. And that pruning period, it made my skin tougher, right? I got more resilient. It built my character. It made me understand who is for me and who's for me. And it also showed me that entrepreneurship is not a straight line. Okay? And as long as I know that it's not a straight line, I'm going to be all right. So now when stuff happened to me, now I'm like, shit, I done been through the worst. That's easy. You know what I'm saying? Like, I done been through the worst. I almost lost my mind. You ever lost $100 million business? No. You ever lost $100 million?

[Podcast Interviewer 2]

I'm the closest we come.

[Pinky Cole]

So that right there and then, not to just to lose it, but to come back and buy it 43 days later, but then be faced with the challenges of, okay, now you're a personal guarantor. They see you a public figure, we gonna come after you. Because if the business, the old CO ain't gonna give it to us, we're gonna get it from you. So now you got this victory and you feel vindicated because you get an opportunity for a second chance. But nobody talks about what happens when you get that second chance? There's fine print that is associated with that. You know what I'm saying? And there's not a lot of people that I can look to as a computer that has been through, as a black woman, minority owned business, a female owned business that has gone through what I've been through. So oftentimes that walk is just me and God. Real talk, the walk is just me and God. But I'm like, you know what? My head is up high. I meditate, I pray every day. And I know that my purpose is so much bigger than the Internet. My purpose is so much bigger than slutty vegan. I know that this legacy walk, it's, it's next level. And it has nothing to do with money.

[Podcast Interviewer 2]

Yeah. Because everything you just named the public scrutiny, being a public figure, it almost makes you question, why write reality tv? But hearing you say it now, it's like, why not? What else could happen?

[Podcast Interviewer 1]

And. Right.

[Podcast Interviewer 2]

Was that your thought process and deciding I'm doing this?

[Pinky Cole]

Well, you know, it's funny because I'm always having my intellectual conversations and I was talking to one of my close friends the other day and I said, there's two buckets. When you're an entrepreneur, there's a money engine and there's a visibility engine. One can get you the other. Think about what I just said. There was a money engine and there is a visibility engine, but you need at least one. You need the visibility. The visibility can get you the money. You need the money because the money can get you the visibility. But you have to have one. Okay, so I've already gotten the money engine, right? And I lost the money engine because I had to restructure my company. So I said, in addition to just wanting to do something different, you got to understand, I've been a television producer, I've been a pageant girl, right. I've been a restaurateur. I've done all these things and I'm like reality tv. Like I grew up prom queen. I did all the things right? Because I'm not a one trick pony. I want to be able to do all of the things that people say, well, why would you do that? You got to imagine slutty vegan did a shoe with Steve Madden. When the hell you ever hear of a shoe with a restaurant company? Like, those things aren't supposed to go together. So when I think about the, the, the, the engines that I have and the opportunity to be able to do something different and show entrepreneurs that like, this is Real entrepreneurship, it gets ugly sometime, but there's going to be somebody that's sitting and watching TV every Sunday at 8 o' clock and they going to fall in love with the fact that, like, I can really be an entrepreneur or I can keep going. Because this girl done been through the ringer and she keep going and she don't give up. And if I can achieve that, it's a win for me.

[Podcast Interviewer 1]

So I want to go back to what you said about you almost lost your mind. So mental health, that's something that's very important. What challenges did you go through? How did you get out of that? Did you, did you see therapy? How did you know that it was becoming unhealthy mentally for you? Was it like one specific thing where it's like a nervous breakdown? I talk about enough as far as it is a very stressful position that can cause people to get divorced, that can cause breaks ups of family, that can cause, you know, some level of mental illness, depression, all types of stuff. So from a mental health standpoint, talk about that.

[Pinky Cole]

Yeah, that gets deep. I don't, I don't think I told y' all about that. I think I probably told y' all this off the record, but in the height of me losing my company, Derek was finally having his moment. Do you see that seesaw right there? The height of the ship crumbling of me losing everything. On the surface, right? We have all these, and I'm still making money through all of this. Like, this ain't a money problem. Money's coming through the door. But when you got $350,000 in payroll a week, what do you do with that? You understand what I'm saying? So in the middle of losing it all, my husband, who's worked for the last 15 years to get here, finally gets his moment. So here I am as a wife, we newlyweds. I'm like, hey, like I'm here. Like, I need your help. But then he's also in his moment. So like, he come around me. I got the depressed energy on me. Let's be honest, we. We've all been there before, I'm sure at some point in our career, in our business, and he's excited. But now part of him doesn't want to be excited because if he's too happy, he never told me this, but I'm an empath. So in my mind I'm like, all right. He probably feel like if he too happy and I'm over here sulking and entrepreneurship trying to figure it out, then it makes him look like a bad husband. So we did have some challenges there because, you know, I don't know the people who are watching this who are married entrepreneurs. That shit ain't no joke. It is no joke. And we both had multimillion dollar companies. Derek makes millions in his business, I make millions in my business, but we keep our businesses totally separate. I don't know what's going on in his business. He don't know what's going on in mine. So when I met him, my business essentially was, quote, unquote, doing. Not doing better than his, but I had more visibility than he did. Right. So oftentimes, he was the supporting character in our empire. Right. But then the roles reversed, and I became the supporting character in his. But that's the beauty of marriage, right? So did it get hard? Yes. Did we have to learn the hard way on how we navigate when one partner in a relationship is going through a visual circumstance? It was incredibly tough. I had a lot of nights where it was just me and my pillow and, God, my husband could be laying right beside me and as much comfort as he can give me and be there and supportive of me. Nobody understands what it feels like when you literally fighting for your life, but you got to show up and put a smile on your face. Y' all remember, you know, I do group economics all the time. There was one specific just move supplements. In about a week, I raised $250,000 for this lady business, and I was losing mine at the same time. Nobody knew. Nobody knew. So here it is. While I'm crumbling, I'm still helping entrepreneurs because I never wanted to be a victim. You understand what I'm saying? I never wanted to be a victim. But it hurt. It really hurt. Because when you are in a strapped situation as an entrepreneur, you get really clear when things feel cloudy. You get clear when things feel. That is a bar. I should put that in a rest. When things feel cloudy, you get so clear because you see who's gonna support you when it's ugly. You're gonna see who's gonna be there, like, what you need. And my problems ain't like, all right, Let me hold $3 million. I'll pay you back next week. Like, it ain't many people that you can really call that's in your ecosystem. I told you before, Robert Smith, when I was going through what I was going through, I called him up, I said, robert, I got a building, $2 million in D.C. i said, I'll sell it to you for $1.7 million. Just so I could get some liquid. Three days gave me the money. So my advice to people who are going through a difficult time in business, you got to make sure that you have the right people around you, which is why it's so critical to have really good mentors, really good partnerships, really good relationships, people that you can trust, that you can call in a crunch, because we all have a crunch. It's okay. It don't matter what level you are in business. We all got crunches. It's giving cabin crunches, okay? Like, we all have crunches. But you gotta know that there's people in your ecosystem that you can call in the midst of those crunches that won't judge you, that'll be there for you, and that'll be that shoulder that you need when you feel weak as an entrepreneur.

[Podcast Interviewer 2]

And that's why you're a vessel, because you show entrepreneurship at its peaks, its valleys, and its very lows. And people are witnessing with you. I wonder in this moment, what's the most important thing you learned about yourself as you're going, as you come out of it?

[Pinky Cole]

You know, for a long time, the messaging was, I'm building a billion dollar company. I'm building a billion dollar company. And that messaging has changed. Do I still want a billion dollar company? Yes, but it's not the money that I want. It's what the money can provide. Okay? The peace that the money can provide, the freedom that the money can provide. And there's no guarantee that money can provide peace and freedom. Right? But it sure can get you close. Right? I want to be able to take my kids to school and be free of worry. I want to travel around the world with my children. Yes, we make a lot of money, but we got a lot of bills. Yes, we do a lot of great things, but I can't remember the last time that I had an hour to just not think about, like, what's next? What's. You know what I'm saying? So, like, as I evolve as an entrepreneur, I'm working for the piece. You know what I'm saying? Like, I am working for the piece because I've touched $33 million. I've touched. You know what I'm saying? I've touched so much money in my lifetime that eyes have not seen. So I know what it feels like. I know all of those things. I know what it feels like to be in the best rooms. Every room I'm in. Y' all in. Y' all know what it feel like.

[Podcast Interviewer 2]

Somebody say, you've Earned your leisure.

[Pinky Cole]

I've been there, done that. So it's almost like when you get there, it's like, okay, this it. Now I focus on the things that really don't cost much. Peace, freedom, Being with my children, still having a successful business. But those things, having that level of peace, just taking a bubble bath with some Epsom salt like that, to me these days is peace, and I value that more. And entrepreneurship is still at the forefront. I could not imagine myself doing anything else in the world. But the intention of always continues to elevate, and it should.

[Podcast Interviewer 1]

As an entrepreneur, what Explain to us. All right. Educate the audience on bankruptcy. Obviously, you made that video. It's been very public that you filed for bankruptcy. You made the video, which is super dope. Thank. No, thank you. Give us an explanation of bankruptcy. Because I still think that people need to be educated on it.

[Pinky Cole]

Okay, so bankruptcy. I'm a break it down like a fifth grader. Bankruptcy is if you go through. If you have more debts, then you have revenue and you are insolvent, which means that either you can't pay your bills or you have more bills than you have revenue. And your bottom line is the color red and not green. That means that you are insolvent. That means that by textbook definition, you can't pay your bills. Okay? So the US Bankruptcy Code has provided you tools to be able to fix the problem. Okay? So there's six main codes for people if you need some relief in your business. So there's a chapter seven. If you want to close your business down, like if you're done, you sell all your assets and then you liquidate, you close the business. You want to walk away. That means that 99% of the time, all of your debts are discharged. So that means that you won't owe. And I'm not a lawyer, by the way, but that means that the debts that you have, they can be discharged in court. Okay? Chapter 13 is where you do a reor. It's a reorganization, but it's a payment plan. And you have a certain amount of time to pay your debt back. You still have to pay, but it's a certain threshold that if you are below that threshold, you have a certain amount of time to pay. Chapter 11 is where most businesses file or if you have a lot of assets. So for me personally, I have a lot of assets. I have a lot of properties. Okay? So chapter 11 is if you make over. I think the threshold is like 1.3. All the bankruptcy attorneys get in the comments and correct me if I'm wrong, but I believe it's like $1.3 million. If you have more than $1.3 million in assets, you have to file a chapter 11. Okay, so I file chapter 11. And what 11 is, it's a reorganization. And you also get a certain amount of time to pay it back. O. And then there's a couple. Couple more. But the main ones, for the context of this conversation is critical because it provides you the relief that you need. Now, let's talk about the economy for a second. Y' all are earning your leisure. You see it, right? Y' all talk about it all the time. All of our biggest businesses in America have either filed or are filing or are considering filing right now. And it has gotten so common because the way the economy is set up right now, people need relief, businesses need relief. So I won't say their names, but some of the biggest fast food chains are following chapter 11, right? Some of the biggest. There's pharmaceutical companies, their retail chains. All of these companies are filing for chapter 7s or chapter 11s, but it's for relief for their business because they either one can't afford to pay their bills, they're insolvent, or they just need to reorganize. Right. And sometimes you need a reorganization so that you can really be able to restructure the plan and get back to a space in your business where you can become unprofitable. So for the people who are watching this, bankruptcy is a tool. Your president has filed for bankruptcy how many times? Six. A lot of times. A lot. Yeah, but bankruptcy is a tool. And I am so excited about the opportunity to do what we will do together because we get to educate people in a way where they can understand it, and it's digestible. When we think about financial literacy, I'll be honest, even me, when I started being an entrepreneur, an official entrepreneur, there was so much stuff that I didn't understand. So I'm like, where do you get that information outside of y'? All? Right. And, you know, once you know that the tools are out there for you, you will be so much better off.

[Podcast Interviewer 2]

Yeah. I think when we. We think bankruptcy, we think synonymous with broke.

[Pinky Cole]

Yeah. And that's furthest from the truth.

[Podcast Interviewer 1]

Right.

[Podcast Interviewer 2]

And so that's why the education piece is so vitally important. Part of the. A couple of questions. When they set the deadline on how the repayment structure go, is that predicated by the courts on saying, like, you have five years, four years, how does that process work?

[Pinky Cole]

So the lawyer puts in a plan Right. Based on your finances, how much you make and all that stuff. So the lawyer presents a plan to the courts and it gets approved. Okay. And if that plan is approved, you get, you have. I haven't even gotten that far. I'm in the beginning of phases, but I believe it's like three to five years to pay that back. Right. But you remember I filed because I have creditors from my old CO. So a lot of my debt, 99% of the debt that I have personally is business from the old company that I no longer own. So, you know, not. Can't say too much, but some of those debts can be discharged because I don't own that company. And it was from the corporation, because I had a corporation. Bankruptcy is very intricate, which is why it's critical to get an attorney. So if you. Anybody who's watching this wants to file for bankruptcy, you need an attorney to be able to support you and guide you through and help you make the best decisions. But I would not change it for the world. I'm so glad that I did it.

[Podcast Interviewer 2]

Part of the restructuring is changing leadership. Your brand is so strong. I mean, we've been around it for so long. Family oriented, but difficult decisions have to be made. Yeah, nobody tells about that part either. Right. Like some of your friends may not be part of the division going forward. How do you manage how you do it?

[Pinky Cole]

Ain't even the friends that'd be the problem. Did you say? I have hired so many people with great resumes that can't even do the jumper. You understand what I'm saying? It's just like, so there's a hybrid, right? Like you need expertise and a little bit of heart. Like, you can't have one more than the other because it'll never work. You got to have a hybrid. And that has, you know, it's been an ongoing thing for me. I mean, in business, as you evolve the business, the needs of the business change. Right? Just like in relationships, who you were six years ago ain't who you are today. You know what I'm saying? So as you grow and evolve, the people around you have to grow and evolve with you. And if they don't grow and evolve with you, then they cannot stay. And that gets uncomfortable. The problem that happens in business, and I'm guilty of it too, is people stay past their expiration date.

[Podcast Interviewer 2]

So you look straight to it.

[Pinky Cole]

People stay past their expiration date. We as entrepreneurs oftentimes allow people who have been in the trenches with us in the beginning to stay past the expiration date. Because we, as we me, I'm talking about myself. For a very long time, I led with my heart, okay? And leading with your heart is a great thing, but leading with your heart can also make you go broke. You understand what I'm saying? Like, you gotta lead with logic, too. Hybrid is what I said. And I've learned that over the years because at the end of the day, they can pick up and go, and you're still stuck with a business, trying to figure it out. So as I grew up and learned how to walk as an entrepreneur all over again and fall on my face sometimes, I've learned something. Some very, very valuable lessons that I'm applying this go around. Do I still get it right? I have some hiccups still because I'm not perfect. But at the end of the day, I know that the mistakes and the lessons from old co, I'm getting to apply them here, and I'm going to be so much better off for it.

[Podcast Interviewer 1]

So when you file for bankruptcy, right, Is there a psychological level of fighting that you guys deal with? Like. Of like, okay, I'm gonna try to fight. I'm pay these bills, to pay these bills, all right? I just. This is overwhelming, right? And then, like, when did you think, like, when did you come to that decision of, like, I can't fight this anymore? Like, I mean, I just gotta.

[Pinky Cole]

You want me tell you a funny story? I've never said this out loud, but I'm gonna tell you something. So I won't say their name, but somebody who. Entity. Not somebody. An entity who I did business with reached out to me and they said, like, hey, like, let's meet up at Starbucks so that we can really, like, talk this out. And I'm like, okay, cool. I'm just trying to, you know, make sure that we get things in line. And I'm like, okay, cool. This is a peace offering. We can talk. Obviously, you know that the business was insolvent. Let's figure this out together. And it felt so real and it felt so genuine. Do you know when I pulled up to that Starbucks and I went inside, the person that I was looking for was not there. Somebody tapped me, said, excuse me, are you Aisha Cole? And I said, yes. She said, you are being served. So the whole time I'm thinking that I'm going to do business, right, to make a peace offering. And I realized that, like, oh, damn, I'm being served. And I think that that was my final straw. I'm like, this is too much. I don't want to do this no more. And I think that that's where I made my decision. And total transparency. Derek did not want me to file.

[Podcast Interviewer 1]

Why?

[Pinky Cole]

You know, we do that?

[Podcast Interviewer 1]

Reputation wise, partially.

[Pinky Cole]

And he, like you, you don't have to do this. Because my reason for filing bankruptcy was because of the old code, right? He's like, you don't have to do this. Like, you could just get. And I'm like, I'm tired. Like, I don't. I don't want to keep fighting a battle that I'm losing. I just don't want to keep doing that. You know what I'm saying? And this was part two of that restructure. But when I did it, at first I was just like, oh, man. Like, my ego was in the way. I'll be honest. My ego was in a way. Here it is. I've done all of these great things. There's so many people that look up to me. But then after a while, I'm like, listen, if I'm dead, they gonna look somewhere else anyway, you know what I'm saying? So I might as well, like, take care of me and take care of what I got going on. I'm the bounce back queen, okay? It's giving biggity, biggity bounce. Like, I literally, every time listen at a restaurant in Harlem, New York, caught on fire, car got repo, got kicked out of my apartment, lost everything, wages got garnished. And then I created $100 million brand. So if it can happen before and I lose it and I get it back, imagine what's about to happen now. You understand what I'm saying? It's given 44x. You feel me? Like, so at the end of the day, I realized that, yes, the headlines could be the headlines, but I'm so confident in my skin and who I am as an entrepreneur. And you can never take away all the great things that I've done in my career. So I did what I needed to do with the tools that were provided to me, and I'm so happy that I did it, because let me tell you some of your favorite celebrities in my DMs right now saying, hey, I want to file. Can you connect me with an attorney? And to me, I say, you know what that tells me that people are really following my journey and learning from it, right? I mean, this ain't a bankruptcy party. Hey, everybody filed for bankruptcy. But the fact that I get to teach other people just by my experiences tell me that I'm doing the right thing.

[Podcast Interviewer 2]

Which. Which One, do you feel the weight, the heavy weight of the. The critique, the scrutiny, or the expectation that there are people watching me and they need to learn from you, right? Because there's. There's two different things, right? Like, there might be that pressure. Like, I gotta keep going. I got these people who believe in me who are like, they're trying to follow that path.

[Pinky Cole]

And there's a. I don't have that pressure no more. I did. I'm. Be honest. I don't have that pressure no more because I'm flawed. And it's okay to be flawed. And you either going to love me or you're not going to love me. You are going to learn from me or you not, which is very rare, because anytime I'm in a room, if you're in a room with me and you don't learn something, something's wrong. You know what I'm saying? Like, so the pressure that I used to have, it's just like, this is who I am, right? Like, I'm not polished. I am me. I'm raw on the tongue. And you, you are going to learn something whether you like it or not, right? And that pressure is just gone. I just have a level of freedom. I don't look at the blogs, I don't look at the comments. And even if I do look at some of my lab, like, okay, they only. They had no idea. But it took for me to be in that dark room to get there, to be on that display that God put me on. Because God is the visual merchandiser to put me on that level of display. Because God said, I gotta get you ready. I gotta get you ready for everything that's about to come. And if you're not ready for it, then you're gonna fold. But if you're ready for it, if I get you ready for now, ready for it now, it's gonna be uncomfortable, but you are literally going to change the world. And I don't know what that looks like yet, but I'm like, all right, God, I surrender. Like, I'm giving you the wheel. And wherever you going to take me, I'm going to go. And in every room that I'm in, I'm going to say your name. Because you did for me what my eyes couldn't even believe at first. You know what I'm saying? So for the people who are going through a hard time, if you've lost something, if you felt like giving up, God has literally stripped me. The days when I felt like I couldn't figure things Out. God came back and said, I got you. And I'm talking about the hardest of situations. God has solved all of my hardest problems. So I said, God, if you give me through this, I'm going to exalt your name. I'm going to say your name. Every single wound that I'm in, and I do it every single time because I would not be. You know what I said? God always knew me. I just knew God. You know why? Because entrepreneurship is a very spiritual practice. You got to be connected to something. You got to be connected to a source. And because I went through everything that I went through in business, being connected to that source is the biggest flex out of this whole situation. And I'm proud of that.

[Podcast Interviewer 1]

Amen. Amen. Hosanna.

[Podcast Interviewer 2]

That's the highest praise.

[Podcast Interviewer 1]

Amen, bro.

[Pinky Cole]

Yeah, I know what to say. Pass the collection plate.

[Podcast Interviewer 1]

Thanks. So, I mean, it doesn't affect you the same way it might affect other people, but what do you think about, just in general, how social media has become so toxic, and it's almost like people take enjoyment and seeing somebody else's downfall or perceived down for troubles, trials and tribulations that's become content. Like, people make content around that. And see, I told you. Like. Like, what is your thoughts on. On how our culture seems to deal with these things?

[Pinky Cole]

You know, sometimes we got a crab in a barrel culture. Let's be honest. We see it. People don't want to talk about. It's true. Sometimes it's not everybody. There. There's a pocket of people that are supportive that say, hey, I got your back. Whatever you need. Right there. Some people thought I lost my. My main homie. Like, Pinky, I got a townhouse if you need somewhere to stack. There is a Trying to Tamar Braxton. It was her. She text me like heck out of townhouse if you do somewhere to stay. But there. There's a pocket of people that do. So I don't want to isolate our whole community, like, everybody. That's not the truth. There are people who actually root for you that are supportive of you, that want to be there for you in your most difficult times. But what I also understand is that if you look at the economy right now, there's a lot of people in the world that are sad. There's a lot of people in the world that are unhappy with their situations. They wake up every single day and go to a job that they hate, but they got to keep the job because this is how they pay their bills and they take care of their Family, you know what I'm saying? And a lot of people are living paycheck to paycheck, right? And the dreams that they had, they ain't never follow, okay? So oftentimes, they're projecting their negativity on other people. But I realized when I've gone through the most humiliating experience professionally as an entrepreneur and how it made me feel after that, it was almost like, all right, I went to that. Okay, cool. So now, like, I'm not tuned into what people say because I'm so sure within myself of who I am, they don't. You can say whatever you want to say. I'd be laughing like, okay, whatever. It is what it is. Everybody's not like that, though, Right. It takes a special kind of thick skin, and you can't pay for that. Like, you can't go get no Botox for that. You know what I'm saying? Like, ain't no surgery for that. Like, you really just got to go through the trenches. But when you come out on the other side, you understand that the people who know, know, and the people who get it, get it. Y' all are my peers. We're in the same class. Y' all get it. You get it. Everybody else don't get it. And it's not necessarily for them to get it, but it's our responsibility to continue to educate.

[Podcast Interviewer 2]

They gotta live to us a little bit, right?

[Pinky Cole]

Yeah.

[Podcast Interviewer 2]

Wanna talk about what's happening now?

[Podcast Interviewer 1]

Strong

[Podcast Interviewer 2]

beginning. You're Peach. You're now a part of Housewives of Atlanta, which is interesting, because I don't think I. I'm guilty. All right? I've watched this. I watch. Okay. My mom, she catch my wife. I don't think I've ever seen anybody like you on this show.

[Pinky Cole]

I don't think I've ever seen anybody like me either.

[Podcast Interviewer 2]

And I'm excited for that because we know you. And again, the people have watched your journey and watch you become an entrepreneur. Watch all the things that we spoke about. And now you're going into that world.

[Pinky Cole]

Yeah.

[Podcast Interviewer 2]

Talk to us, please.

[Pinky Cole]

I don't know what to say. You know, I'm actually very excited. I'm excited because outside of my two best friends, Crystal and Sierra, I have. I'm not. I'm usually around men. I do. I do good. I always work best. I don't know. I just. I have a dominant personality, so I always work best with men. I'm overly confident. You know, sit down. You know, I go. So to be around a group of women was very different for me. A group of women that are not in the same industry almost was also very different for me. But I'm happy that I'm different. Different is good. Different is not a bad thing. And I think what makes a really good reality show is diversity, right? Like, diversity in personality, diversity in character, diversity in experience, because it needs to be somebody for everybody. So I know that I got my audience okay. Like, I'm taking my people with me, and I'm excited for people to be able to see me uncover the highs and lows of entrepreneurship. Remember, I'm an open book at this point, so it's just, like, people really get to see how I've navigated business. The beautiful side of it, the hard side. They'll see my family, my lifestyle, my marriage. You know, me and Derek, we don't really post a lot of our marriage online, but they get to really see that in real time. Like, that's my best friend. We the same person. You know what I'm saying? Like, you think that I pop my stuff? Like, he is. Y' all know, like, Derek is very intellectual, and, like, people get to see that side, and I'm excited about that. And I know that the audience that I build on this show is bigger than arguing at a brunch table. You know what I'm saying? Like, we. We talking about things that matter. You know what I'm saying? And I'm looking forward to that.

[Podcast Interviewer 1]

So when you go into this show, are you going into it thinking this is a branding opportunity for me to further the audience, to build business? What is your thought process on actually signing up for a reality show? Like, are you or are you just looking at it like, how are you thinking, like, about that?

[Pinky Cole]

If I sat here and told you, no, that's not the case, I'd be lying. You'd be like, girl, stop lying. Right? Somebody else would be like, yeah, no, that's. I just came because I wanted to make new girlfriend. Yeah, I'm excited about making new girlfriends. But when you think about the leverage that platforms like these bring, yes, you. You want to meet new people, but it's also an opportunity to build and grow whatever it is that you have. And it's also an opportunity to continue to raise awareness as an entrepreneur, and it's also an opportunity to be able to do something different. So my reasoning wasn't just one thing. Like, I just want to rip branding and, like, promote my business. I want to do something different. I want to. I want to see how could I mesh? Not even mesh. That's not the word. How can I take up space in a room full of other successful women? And we do things that the world has ever seen.

[Podcast Interviewer 1]

Does that work? Housewives? Why does that even.

[Oppenheimer Representative]

What?

[Pinky Cole]

You laugh?

[Podcast Interviewer 2]

You know, I was thinking the same thing about to ask you. That's crazy.

[Pinky Cole]

What does that mean?

[Podcast Interviewer 1]

Well, I'm assuming when it first started, the show was based around housewives, but nobody on the show was a housewife. So why do they, like. Is that just like a name of a show?

[Pinky Cole]

Well, you know, I gotta call someone, executive producer, ask that question and get back to you. However, I can always speak for me and mine. Okay? So I'm very married, and I have a family, and we have a house. And I am not by definition a housewife, because I still get up.

[Podcast Interviewer 2]

I need that. I need that.

[Pinky Cole]

And I go to work.

[Podcast Interviewer 2]

Yeah, yeah, yeah.

[Pinky Cole]

And I get the chicken. No pun intended. Okay. But a housewife in the quintessential definition. Okay. Really means that I feel the shade coming. Really means that you embody a level of energy where you are the recipient of a lifestyle that everybody is not afforded. Okay. And I'm the recipient of a lifestyle that everybody is not affording. My husband is very successful. I'm very successful in business. Together we have. We're not even 40 yet, and we've done more things than other 38 year olds that I've ever seen in my life. Right. So I, you know, the reason for why they created the show, obviously, you know, they had their reasonings. But for me coming on the show, being a part of Real Housewives of Atlanta, the goal is to not work one day. The goal is to one day sell my company and have an exit, just like most founders do. But I'm excited about being a part of this platform. Bravo is incredible. NBC Universal is incredible. And I've made some really good friendships so far. So, like, I'm happy about that.

[Podcast Interviewer 2]

I was gonna. It's crazy because we were thinking the same thing. I was actually looking at it as there might. You're a wife. You have a. Obviously a husband and a family at home. A part of you is a housewife. Right. But that doesn't define who you are.

[Pinky Cole]

No.

[Podcast Interviewer 2]

And that's how I was trying to think. This is like, another aspect of who Pinky is, in a sense. I was wondering about the friendships, though, because when I see you, it always is with Derek. And you do have counterparts in your field and counterparts throughout the city, but you got a big personality, big energy.

[Pinky Cole]

How was that?

[Podcast Interviewer 2]

You know, like, initially, Because I'M assuming that most of the cast knows who you are. It's not that frequent with you.

[Pinky Cole]

What was that like? I suck up a lot of air. You know what I mean when I say that? I suck up a lot of air. Everybody can't handle that. But what I will say is, like, for example, K and I, K Michelle, her and I have got really, really close through this process. She's my sorority sister, and she's an intellect like me. She's a thinker. And I don't know that a lot of people really know that. Like, she. She's a thinker like me. So we've gotten close. I love Shamia down. Love Kelly down. We like Portia, but. But I, you know, every one of them have things that are cool, right? Like, one thing about me, I ain't no hater. If I see something good and you like, okay, cool. Like, I like your star power. I like your swag. I can't say that about everybody, but for the most part, there's. There's, you know, there's this. A talent or something special that I see in. Mostly all of them that I think together makes a dynamic of my life. Mostly all of them. They said, if you ain't got nothing nice to say, don't say nothing at all. Okay? Don't say nothing. I'm a professional.

[Podcast Interviewer 2]

I thought, this is going to be good.

[Pinky Cole]

But, yeah, no, I mean, you know, I really value the relationships of the entire group because what I've learned is everybody going through stuff, okay? Everybody is going through something. And you'll be able to attach yourself to one of these women on the show for whatever reason, whatever your reason is. And I think that this is going to be a really good season, probably one of the best.

[Podcast Interviewer 1]

When last year, when you. What was on our show and you was going through the restructuring of your company, you talk about lessons that you learned as far as, like, spending too much money, hiring the wrong people. You know, the management at, like, a variety of different business lessons that you learned from that situation that was helpful for other people in business. What lessons? Like, we're at the bankruptcy part, but what lessons have you learned from not only going through the bankruptcy, but things that could have. That could have been prevented or could have caused the bankruptcy. Like, what have you learned from that?

[Pinky Cole]

You can have a Benchley that is a 2025, and it can have all of the trinkets, it can have all the frills. It could be a nice vehicle. But if you don't have no engine in that Bentley, then where you gonna go? You cannot move. So what I've learned is that you are only as good as your operations. So when I first started out in business, I thought it was enough to just be a popular brand. But somebody needs to be managing and operating the business operations, okay? Somebody has to operate and like literally be the conductor on the train. And if you don't have the right conductor on the train, it'll move. But eventually something is going to happen. Let me give you another example. You ever been on an airplane before? Have you ever been on an airplane before? Do you know that there is a several point inspection that takes place before that airplane can take off? If you have the wrong operators putting their hands on that plane while that inspection is taking place, God forbid what can happen because the right things haven't taken place before that plane has taken off. So operations is critical to having a successful business. It don't matter how popular you are, it don't matter how many people love you. You need to have somebody oats on the ground. Making sure that your labor is good, making sure that your cogs are good, making sure that you have the right vendors. Because what often happens, especially in the restaurant space, you can have these vendors and they charging you a premium price because you don't know that you can get rebates or you don't know that you can get the best pricing or they think that you're a mom and pop company so we don't have to give them the, the right kickbacks. And now your food cost is higher and now your bottom line, you ain't making no money and you wondering why, but it's because you've given all of your money to these distribution companies, you know what I'm saying?

[Podcast Interviewer 1]

So like, or even if you're doing an event and somebody can exactly what they paying for this, paying for that. And before you know it, you don't ran up $300,000.

[Pinky Cole]

Let me tell you something. And I grew 14 stores in the height of the pandemic, okay? 14 stores. Every store cost between 800,000 and $1 million. Every store, okay? And because it was in the height of the pandemic, supply chain was crazy, inflation, everything. But what I learned in business is people will take advantage of you if you do not know. People will take advantage of you if you do not know. And sometimes it's intentionally and sometimes it's not intentionally. There are people who are predatory when it comes to green entrepreneurs. And we all start off green, right? Like I had to fall on my face A lot of times. I didn't have a private equity uncle or father. My father did 22 years in prison. Was he smart? Absolutely. But he was behind bars. So I didn't have that person on a day to day telling me what to do, what not to do. You need to give phantom equity or you need to do a series this or do a series that. Or like you don't need to give this big of a discount. Like I had to learn that the hard way. And we didn't even have a. When I was trying to do it. Okay, that's new. If I didn't, I'd have straight, you know what I'm saying? So operations, I could give you all the little mini lessons, but the umbrella of operations is really what covers everything else.

[Podcast Interviewer 1]

And would you, would you advise like one pro, like a coo or have like different people? That's like this person's job is that, that person's job is that.

[Pinky Cole]

So it depends on what stage of business that you're in. Because a COO is not cheap. So if you are a business making $300,000 a year, you can't afford a COO because that's their salary. You understand what I'm saying? But if you're making 2 million, 3 million, $4 million a year, you absolutely need a C suite level COO, right? I'm gonna be very clear. I'm gonna give y' all some non traditional advice. A COO level that has proven ability to scale a business like yours, because they've done it before or somebody who's younger that's super hungry. Because you know, you ever see those people that are super hungry, they young, but they're super hungry. And they worked in every single position in the business. So they know the business. No, they don't have it on their resume, but they're still so hungry. And they've learned the business because they put their hands in it. But if you are growing an enterprise, you need the level of expertise, but not just expertise on paper. You need the person that really is still willing to be boots on the ground. Because sometimes when you get these C suite executives, they don't feel like they need to be on the ground, you know that they don't feel like they need to be on the ground. I'm guilty of a shit. When the business got to a certain stage, I'm like, okay, made an agreement with my former leadership. I'm going to be thought leadership. I'm going to be the Ronald McDonald, I'm going to do all of the press and the marketing and the branding. I stopped getting in the field, but now guess who in the field. I'm back in the field. You see my pop, folks, I have lines down the block because I'm back in the field. I'm touching every sandwich, but it's almost like I'm that baby again, learning my business all over again. And I'm happy about that because now I'm listen what Jay Z said. If you can do it once, you can do something about. You can do it once, you can do it twice. Like I've done it before, I can do it all over again. But that operations piece, man, that's the most critical. That is the most critical.

[Podcast Interviewer 2]

Is that a trait that you see in entrepreneurs today that you, that they're lacking? Right. Like your story is full of resilience? I feel like people, a lot of people who create businesses during the pandemic. What else you mean? Yeah, they go, is, is it the lack of resilience, organization, operations. What was your take on against this era of entrepreneur?

[Pinky Cole]

There's a couple.

[Podcast Interviewer 1]

They didn't have a business.

[Pinky Cole]

Yeah.

[Podcast Interviewer 1]

No real business.

[Pinky Cole]

There was no, a lot of agree. There was no real business. There's a couple of things. There's a couple of variables here. Like, you know, a lot of small businesses, they have great ideas, right. But no structural foundations at all. Not even like 5%. Right. So I began to remind myself sometimes when I talk to newer stage entrepreneurs that there's a lot of things that they don't know. Right. And ignorance is not bliss. Right. And it's not even always their fault. Right. It's because we haven't always had the access to the information, which is why your platform is so critical. And I admire y' all so much because what y' all are doing for the culture, nobody else has ever done. Right. So we need more of y', all. Right. To continue to educate in a way where it doesn't feel so high level that entrepreneurs can understand. Because most entrepreneurs, startup founders, we're usually visionaries, right? Like most of us, right, where you, the creatives aren't usually the real technical like the creatives. The, the, the creatives are usually the ones that have the really big imagination. Well, I'll speak for myself anyway. Like I got a really big imagination, but operations are so is not my thing. It's just not. I can do it but like I don't get up in the morning and like operations, I want to do it. So I know my ministry, so I know that I need to bring in an operations person that can do the things that I don't love to do, but I also need to keep my eyes on it. You know what I'm saying? And I think that when entrepreneurs understand that, yes, for a certain period of time, you won't have to do hr. Yeah. You going to have to be an accountant. Yeah. You won't have to do all of those things, but eventually you are going to get emotionally, mentally, and physically stretched trying to be all of these things in your business that your business will never be able to grow.

[Podcast Interviewer 1]

That's a good point. I also think that this. The social media thing has been a gift and a curse for a lot of entrepreneurs because it's allowed people to skip steps.

[Pinky Cole]

Yes.

[Podcast Interviewer 1]

So it allows you to make money from your Instagram page. Right. A good idea, a good look, and then before you know it, you. You think that you have a business, but you really don't because you never had to go through the stages of actually building the foundation of what a business actually entails. So you're. You're. You're making revenue, and psychologically, you have a lot of confidence because you're like, well, I'm. I'm. I'm an entrepreneur. I'm a business. And then as soon as you hit a speed bump, you fall apart, because the house is built with no foundation

[Pinky Cole]

and you ain't got no team.

[Podcast Interviewer 1]

Right. And you have no team. You have no infrastructure. You have no plan in place. You have nothing. And I think a lot of people. I think that was a problem for a lot of people during the pandemic. It was good sailing for a lot of people for on the Internet side. And then when things changed, a lot of people realized, or they. Maybe they didn't realize, but they. They got taken under because they never really figured out what a business, what running a business really is.

[Pinky Cole]

Yeah. It's the truth. You know, I. Before I had my restructure, I had my restructured seven years in business. Restaurants don't even last three years. The average restaurant does not last three years. So it is so important for you to have that team, for you to understand business. Now that I know what I know, my PSA to every entrepreneur is you have the tools and the resources. I just got a new friend, and her name is Claudisha. Y' all know what that is?

[Podcast Interviewer 1]

Claude?

[Pinky Cole]

Yes. Okay, Claudisha. And I literally immerse myself in research. Like, I'm the ultimate researcher, because I want to learn, I want to get better, I want to be the best. I'm franchising now. So like I fallen in love with the franchise business. So like I'm researching all of the things and I'm being a student at a game all over again. And you know, it sounds cliche, but you have to be a student in a game because you will get left. Your business will leave you if you are not a student at a game. I've been there. I know what it feels like. When I came back in my company in 2024, I didn't even know where nothing was. I didn't know where the files were. I didn't know I was a new hire in my own business. Can you imagine people telling me where stuff is in my own business because I wasn't running my company? That is the most embarrassing thing in the world. So yes, I can. I could depress in marketing all day long, but I entrusted those to run my business and I took my hands off the wheel. So this time around, hands on wheel, third eye open and just making sure that I'm putting the proper pieces in place even through the hiccups, so that my business can continue to sustain. But what I know for sure is that I have a weatherproof brand. And if you have a weatherproof brand, here it is. I'm all over Beyonce Internet and I'm getting so many franchise requests every single day. People still love my brand. People still want to franchise my business and help me scale it. So I said, I got something special. I have something special. So what are you going to do with this level of specialness? And I believe that we all had that gift in our businesses. We just had to be able to unlock it.

[Podcast Interviewer 2]

I'm thinking about the Khasi kasi right now.

[Pinky Cole]

Come on, let's go. We could do a slutty vegan in Ghana. What we talking about? Hello.

[Podcast Interviewer 1]

So let's talk about what we're going to do together. Because collaboration is key. You came up with the idea. You want to inform the people.

[Pinky Cole]

Sure. So I think everybody at this point has seen my Miss Rachel parody video where I was teaching bankruptcy to grown adults and I made a joke. I said, sometimes you got to put it on 808s so people can understand. But then when I was looking at the comments, I realized and shout out to Wall Street Trapper. He said something, he was like, yo. Like, this is really a thing. Like, entrepreneurs will benefit off of this. So it had my mind going and I. I'm like, I need to do like an online YouTube series that teaches adults financial literacy, but at a fifth grade level. Right. Because you gotta show people that, like, the information is there, but I'm gonna make you digest it in a way where, like, you never knew that you can learn it, and it could be fun and hip at the same time. So I'm so excited to be able to partner with my fellow guys right here. Oh, I like how the screen went wide. I love that on this YouTube digital series. And the reason why I'm excited about doing this with y' all is because y' all really own the culture when it comes to financial literacy for our people. Right. And I have gone through so many things in business that I would like to call myself a student who's an expert. Right. I've had a lot of challenges, but I've also had a lot of growth opportunities. And with those things, I know that that level of education will have a lot of entrepreneurs. So you put that in a pot with Troy and Rashad, and it's a level of success that is really going to be so impactful. So it's called Pinky Piggy bank, and we are going to be teaching entrepreneurship through music. And, you know, I'm going to use our favorite songs that we grew up to and translating things. We talking about trust. We've talked about bankruptcy already. We're talking about LLCs and safe notes and equity and cap tables. All of the things that a lot of people don't understand. I'm putting it in a song, man.

[Podcast Interviewer 2]

I mean, when you. We got the text message, whoever could

[Podcast Interviewer 1]

call me first, call me.

[Podcast Interviewer 2]

And when I heard the excitement in your voice, I'm like, oh, this is something special. Yeah, it was easy. I'm like, yo, sh. This is gonna be easy.

[Podcast Interviewer 1]

Yeah.

[Podcast Interviewer 2]

Ping on Jews. Let's do it.

[Podcast Interviewer 1]

Yeah.

[Podcast Interviewer 2]

Talk to them about the details when they can see it.

[Pinky Cole]

Yeah. So our first episode is dropping April 17th, and I'm excited about it. I ain't gonna tell y' all the song. Y' all gonna die, but it's gonna be great, man, because every week you will be able to learn something new about business. So now there is no excuse so entrepreneurs can say, well, I didn't know. Yes, you did, because I put in a rack. I put in all 808s. Okay. And we just go and educate the masses. I feel like we collectively have a platform to educate and learn. And one thing that I will say about all three of us is that we do that very, very well. And I think this is just another vertical of doing what we do best. And I'm excited to be in partnership with y', all, and I know we're going to make a lot of major capital. Yeah. Comes a great.

[Podcast Interviewer 1]

That's the only way. Thank you for trusting us with your vision, working with us. Welcome to the network. But I think it's just important just to spread the message to many people as possible, because people really look up to you as far as entrepreneurship. So you can look up to somebody and learn from everything that they've done correctly, every mistake that they've made, everything. Like, you know, that's really, like, mentorship in real time. See, it does. That's complete craft. Sure.

[Pinky Cole]

Yeah. I'm the same. Yeah. And I get to be in your ecosystem.

[Podcast Interviewer 2]

There's.

[Pinky Cole]

Okay, give me that data list.

[Podcast Interviewer 2]

Yeah.

[Podcast Interviewer 1]

I mean, that.

[Podcast Interviewer 2]

It goes back to the idea of, like, I'm turning this into something positive.

[Pinky Cole]

Yeah.

[Podcast Interviewer 1]

Right.

[Podcast Interviewer 2]

When you did it, when we spoke, you, like, I was, like, super uncomfortable about doing. I'm rapping. That ain't really my thing. And then I put it up in, like, a million views.

[Pinky Cole]

Yeah.

[Podcast Interviewer 2]

Oh, this is how people need to learn.

[Pinky Cole]

That's how they need to learn. So, I mean. Yeah. Impactful. So, you know, I always said I wanted to be a rapper. Here we go. Here we go. And we're gonna make it fun. It's gonna be good. And it's not just for adults. Kids can learn from it, too. You know what I'm saying? So there's so many ways and places that this can go, and I'm excited about us activating it at Invest Fest and people getting to see it in real time. But it's gonna be good. And. And. And so many people are going to be able to be inspired by what it is that we building.

[Podcast Interviewer 1]

Well, there you have it. Thank you again for your time. Anything else that you want that you want to let people know?

[Pinky Cole]

Yeah. I want to talk to every single entrepreneur. Why don't I look at the camera right here?

[Podcast Host/Producer]

Okay.

[Pinky Cole]

Every single entrepreneur that is watching this program, you are looking at somebody who has cried, who has died, who has lost it all, gotten it back, been compromised in business, bought a business back, restructuring. I'm like a cat. I got nine lives. So you are looking at somebody who has experience at loss, but you are also looking at somebody who has experience and faith. Okay? So the difference between a winner and a loser is that a winner never quits. So if you feel like throwing at the towel, rethink it again, do something different. Pivot a little bit. Because what it is that you are working on God. Put it in your spirit for a reason and you gotta trust your gut, even when it feels uncomfortable, even when that thing feels dead. My brother in law has been in the hospital since December 28th. When he went to the hospital, he had a stroke, a massive stroke. And he did not open up his eyes for 10 days. And I watched people, they didn't say it, but I could feel the energy of defeat around him because they didn't know if this man was going to open up his eyes. And then eventually he started to open up one eye and then he opened up the next eye and then eventually he started twiddling his fingers and then he eventually started writing and now he's starting to talk. But I'm telling you that because God will give you your emotion back. No matter what it is that you've lost, you will get your emotion back every single time. Even when people are surrounded around you and they think that you're dead, they think that you can't hear that they're talking and they're criticizing. God will give you everything that you lost. He will give it back times 10. I'm a living witness and it compelled me to share that with any entrepreneur going through a hard time because I get the messages. But just know, do not give up. God will give you everything that you lost and you'll get it back times 10.

[Podcast Interviewer 1]

Always leave us with a emotional message that's right on time for the times that we're in. So I don't even know what to say after that, I guess.

[Podcast Interviewer 2]

Thank you.

[Podcast Interviewer 1]

Tune in. Tune in the Real housewives. Tune in. April 5th, the show that we're going to be doing on YouTube, the series tune in to everything. Slutty Vegan, Big Dave's Cheesesteaks. You know, you guys, anything that we can do to support that's easy. And yeah, once again, thank you for always being there for us. We don't take it lightly, you know, greatly appreciate your support and everything that we've been able to accomplish. So that means a lot. Smith as well, thank you.

[Pinky Cole]

I appreciate that. Let's go make some magic.

[Podcast Interviewer 2]

Let's do.

[Podcast Interviewer 1]

There you have it. All right, guys, thank you for rocking with us. We'll see you next week.

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