Co-Founders in Sync: Balancing Passion, Partnership, and Purpose - FROM INC. STUDIO AND CHASE FOR BUSINESS

Summary

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From the Ground Up — "Co-Founders in Sync: Balancing Passion, Partnership, and Purpose"

Podcast: From the Ground Up
Host: Abigail Bassett, Inc. Custom Studio
Guests:

• Rika Kendrick Palmer (Co-founder, BlackFlox)
• Tasha Kendrick Palmer (Co-founder, BlackFlox)
• Robert Hines (South Region Area Manager, Chase for Business)
  Date: December 8, 2025

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Overview

This episode explores what it truly takes to build and sustain a successful business partnership—especially when co-founders are life partners as well. Through candid conversations with Rika and Tasha Kendrick Palmer, co-founders of Houston’s BlackFlox, and Robert Hines of Chase for Business, host Abigail Bassett delves into balancing passion, partnership, and purpose. Topics include the origin of BlackFlox, the complexities of working with a loved one, communication, financial transparency, the power of community, and practical advice for new partners.

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Key Discussion Points and Insights

The Realities of Business Partnerships

• Survival Statistics & Sustainability

  • Robert Hines highlights daunting statistics: about 430,000 businesses start each month, but only ~45-50% last five years ([01:13]).
  • Key sustainability factor: "Treat your business relationship like any other key investment, with trust, transparency, and alignment of shared goals." (Robert, [03:22])

• Unique Partnership Challenges

  • Co-founders juggle work-life balance, communication issues, and lack of defined roles. These can lead to misunderstandings both at work and at home ([02:17]–[03:29]).
  • Memorable quote: “Work-life balance… becomes a little bit challenging to switch off at times. So consequently, those conversations follow you home.” (Robert, [02:17])

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BlackFlox: From Passion to Business

• Founding Story

  • Rika (nurse, 20 years) and Tasha (respiratory therapist) started BlackFlox at the start of COVID, making a candle to comfort a grieving neighbor ([03:43]).
  • Their workshops aimed to help people disconnect from pandemic stress and find common ground.

• Healthcare-Inspired Business Model

  • They leveraged healthcare time management, empathy, and logistics in building their brand and community ([05:08]).
  • Workshops offered a way to bring people together and foster community even amid political and pandemic stress ([05:40]–[07:55]).

• Evolving Vision: Workshops vs. Product

  • Tasha initially resisted starting a business, and was hesitant about workshops. She preferred focusing on product/e-commerce; Rika was passionate about community-building events ([09:04]–[10:41]).
  • Financial reality (“I took some money out so that we could keep making candles with people…”) forced them to agree on blending both approaches ([11:28]).

• Defining Roles & Embracing Differences

  • A pivotal moment: Tasha mandates that before more personal funds are invested, inventory candles need to be sold. This hybrid model ultimately sustained them financially ([12:35]).
  • “We sold more, probably two or three times more, of our inventory candles than we did workshops.” (Rika, [12:35])

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Managing Communication and Financial Transparency

• Respecting Strengths and Working Styles

  • Robert: "Celebrate the differences, right, because they can actually make your business stronger..." ([13:54])
  • Advice: Regular roles review, explicit responsibility division, and “BLT—Believe, Like, Trust”—as key principles ([14:19], [16:04]).

• Systems & Transparency

  • Clear, separate business accounts and written agreements set a foundation for trust ([14:19]).
  • “System: Saves you Stress, Time, Energy and Money.” (Robert, [14:19])
  • Rika and Tasha mimic their personal financial strategies for the business, ensuring clarity and resilience ([16:38]–[18:39]).

• Work-Life Boundaries

  • The couple schedules “no business” days (Tuesdays for Rika), formal board meetings (Wednesdays), and date nights to carve out personal time ([19:03]–[20:09]).
  • “We had to set those hard lines on: Hey, I can’t take any more.” (Tasha, [19:37])
  • “To you that means you made a decision. No. She often says to me, ‘Did we actually make a decision on that? Or was that just a conversation?’” (Rika, [20:09])

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The Impact of Community and Mentorship

• Chase for Business Relationship

  • As longtime Chase customers, Rika and Tasha credit their local business banker for prompting strategic thinking and personal support ([22:10]–[24:33]).
  • “He really was vested in making sure we had a plan beyond tomorrow, you know, and letting us know that it’s those things that will derail you.” (Rika, [24:33])

• Mentorship and Coaching for Impact

  • Programs like Coaching for Impact offer executive coaching, workshops, and intentional intros to drive both personal and business growth ([29:31]–[33:21]).
  • Rika: “The Coaching for Impact Program… helps us to really take a deeper dive into what we have. It doesn’t give you answers. It makes you do the work.” ([29:31])
  • Collaboration > Competition: They built peer partnerships that provide outside perspectives and emotional support ([37:33]–[41:03]).
  • “Confluence… when two rivers come together to form one, and that merging creates a stronger current… sometimes you’re a movement by yourself, but when you identify a partner, you become a force.” (Robert, [41:06])

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Practical Advice for Entrepreneurs and Partners

• For Prospective Co-Founders:

  • Robert: “Get to know and respect each other’s strengths and working styles before you dive in… partnership is like any relationship, there’s give, there’s take.” ([42:21])
  • “My 100% may not look like yours.” (Abigail, [43:13])

• Lessons from Rika & Tasha:

  • Tasha: "Learn to say no, it is okay. Also, do that research… to save you a couple of coins. That trial and error can be costly." ([44:07])
  • "Allow yourself grace, as well as your partner grace." ([44:33])
  • Rika: "Don’t try to manage your partner in the business… do open yourself to that grace and those small wins." ([44:48])
  • "Make sure you know what you can do for free before you go pay for it… and learn the legal implications of anything you want to do." ([45:55])
  • Both use AI as business research and planning aids—“YouTube University is real.” (Rika, [46:43])

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Notable Quotes & Memorable Moments

• On Partnership Strain

  • “Our relationship was tried—totally tried—and it had never gotten to that point before.” (Tasha, [09:06])

• On Business-Partner Dynamics

  • "Celebrate the differences… they can actually make your business stronger and keep your partnership healthy as you continue to grow." (Robert, [13:54])
  • “I cannot manage her. Tasha’s not shy about making sure I knew that I was managing her.” (Rika, [44:48])

• On Community

  • “Chase for Business partners… really talking about how you’re going to remain and grow in business, and not just how you’re going to remain a customer.” (Rika, [24:33])

• On Collaboration

  • “It’s more, you know, collaboration over competition… it is very necessary for your business. And I also feel it’s very healthy.” (Tasha, [40:45])

• On Confluence in Partnership

  • “You’re a movement by yourself, but when you identify a partner… you become a force.” (Robert, [41:06])

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Timestamps for Key Segments

• [01:13] — Robert Hines: Small business survival rates
• [02:17] — Partnership challenges: Work-life boundaries, communication, roles
• [03:43] — BlackFlox origin: COVID, healthcare, first workshop
• [05:40] — Workshop impact and purpose
• [09:04] — Personal challenges of co-founding with a partner
• [11:28] — Finance and shifting to a business model
• [14:19] — Systems for financial transparency
• [19:03] — Work-life boundaries and scheduled meetings
• [22:10] — Chase for Business’s role and mentorship
• [29:31] — Coaching for Impact and business growth
• [34:49] — Choosing Houston, organic community growth
• [41:06] — Confluence and partnership metaphors
• [42:21] — Final practical advice to new co-founders
• [44:07] — Tasha and Rika’s advice to their former selves

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Takeaways for Listeners

• Start with clear boundaries, defined roles, and mutual respect for differences.
• Prioritize financial transparency: separate accounts, regular review, written agreements.
• Celebrate small wins and remember that business decisions can tangibly affect personal relationships.
• Seek mentorship and leverage free community or institutional resources.
• Collaborate with peers—don’t isolate; learning from others’ experiences is invaluable.
• Allow room for grace, imperfection, and personal growth—for both partners.
• Before investing heavily, do thorough research (and don’t overlook “YouTube University” or AI tools!).
• Community and mentorship—like that from Chase for Business—are critical to scaling sustainably.

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“Confluence… when two rivers come together to form one, and that merging creates a stronger current… so as entrepreneurs, sometimes you’re a movement by yourself, but when you identify a partner, you become a force.”
— Robert Hines ([41:06])

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Transcript

[A]

Hello and welcome to this special podcast series, the Experience in partnership with Chase for Business. I'm your host, Abigail Bassett with Ink Custom Studio. Today we're exploring what it really takes to build something lasting with a partner. Whether you're starting out a business with a spouse, a best friend or colleague, a partnership can both be your biggest strength and your biggest challenge. In this episode, I sit down with Rika and Tasha Kendrick Palmer, the co founders of blackflox, a Houston based black owned fragrance studio, as well as Robert Hines, the South region area manager. At Chase for Business, we talk about the power of partnerships, both in business and in life. Welcome, Rika, Tasha and Robert. So first up, Robert, I want to jump right in and talk a little bit about sort of the context that we're living in right now. Tell me about how many businesses are started and how many of those businesses succeed, and then talk to me a little bit about some of the challenges that partnerships see.

[B]

Well, you know, interestingly enough, I just read a statistic not long ago from the US Department of Treasury and what they stated is approximately 430,000 businesses are formed each month.

[A]

That's a crazy number.

[B]

Exactly. So when you look at the totals, you're north of 5 million businesses a year.

[A]

Right.

[B]

What's more impressive is the success rate. Typically within the first year, you have about 80 to 85% of these businesses survive, but as time goes on, that number decreases significantly. So at the two year mark, you're roughly at about 65 to 70% of these businesses that survive. And at five years, approximately 45 to 50%.

[A]

Wow.

[B]

So there's a declination over time if you don't build something sustainable. And when we think about partnerships or businesses in general, we want to help provide the guidance to get them to that point of sustainability. And we introduce different variables to get them there.

[A]

We were talking earlier, Robert, about sort of the layer that partnership adds into starting a business. Right. You not only are in business with this person, but you're also in relationship with this person. And when you're negotiating these things both in business and personal life, what are some of the challenges that can come up in that space?

[B]

You know, it's a great question. One of the things that I see quite often with co founders are they really just juggle a lot. When you think about the phrase work life balance, it's really about separating your work and your personal life, and that becomes a little bit challenging to switch off at times. So consequently, those conversations follow you home. The second thing is communication. Communication can Be tricky. No secret that running a business is stressful, and that has the propensity to.

Make misunderstandings slightly elevated. That's going to obviously lead to, you know, personal disagreements in the home. The third thing is setting clear roles is also a challenge. If responsibilities aren't defined early, partners can overlap or step on each other's toes, causing friction. So what I find is the most successful partnerships, they treat their business relationship like any other key investment, with trust, transparency, and an alignment of shared goals.

[A]

And Rika and Tasha, I want to talk to you guys a little bit about how you guys have. Have partnered both in life and in business. So first, tell me a little bit. Rika, we'll start with you. Tell me a little bit about Black Fox and how this idea came to be.

[C]

Well, I'm a nurse. I've been a nurse for about 20 years, and we got started at the beginning of COVID We didn't actually start as a business. Tasha's a respiratory therapist. And so when we got started, we had a neighbor who was having a bit of a mental health crisis after he lost his mom to Covid. And so our initial goal was just to help him to feel better. We just wanted to make something that smelled like his mom's perfume so that he could have something that was just his to remember her by, you know, and so we did that for a little bit. He really recommended that we go around and start to make candles with people, and. And Tasha will talk a little bit more about how we got to the candle piece. But, you know, we decided to go around and make candles with people so that they could separate from politics in the pandemic. Right. And so after he got his mom's candle, he was like, hey, people would really enjoy this, so you should just go around and, you know, do it with people. And you're a nurse. People trust you, that you're one of the best and most trusted professions. So, you know, let's just see what happens. And that's kind of what we did.

[A]

And, Tasha, how did you use some of your experience to sort of inform this business idea, but also sort of come to the table with the ways to make it successful?

[D]

I think it started with, you know, incorporating healthcare overall. It started with the logistics of healthcare, such as your time management.

Prioritizing. Excuse me. You know, your daily tasks that you need to perform to, you know, get these people better. So I think it started there when.

[A]

You guys started out, though. You guys started doing just workshops initially, right?

[D]

Yes.

[A]

And why was that sort of the path that you chose when you guys decided to start this business together?

[C]

Well, you know, we just noticed that the world was kind of falling apart as essential workers ourselves, you know, we knew that essential workers could not separate from everything, you know, and so we also realized, because the world was on lockdown, you know, that we had to go to people. Right? But there were those people that were only at work. They were going to work, they were going home. They were locked in their homes for this amount of time. And where we could make the biggest impact was to, you know, know, help people, at least, you know, mentally, and to take away those things that were, hopefully, for that short time, causing discord, you know, and so that really helped us to continue to also be healthcare workers. Right. So we just got the opportunity to care for people's spirits. And so when we were doing these workshops, we'd walk in with, you know, all this stuff, and of course, course, the leaders were like, what are you doing? What do you want to do? You want to do this for free? You know, there were several people who were like, wait, you want to do this for free? Why would you want to do this? Exactly. You know, and so we would say over and over again, we just want people to feel better. We just want them to be able to disconnect. So, you know, the workshops were the way to get people in the same space to look at each other, to understand that they also had a lot more commonalities than they had differences, no matter what side of whatever spectrum they were on politically or how they even felt about COVID Right, right. And so the workshops were the best way to get people to be able to be at the table at the same time. And who knows, maybe you and I walked away with the exact same fragrance not knowing that that's what it was, you know, or that you like that, you know? But when they walked out of the room, they had a totally different discussion point. Right. They weren't just talking about politics in the pandemic. They were talking about things that they had in common. And at the end of the day, you know, when it comes to health and healthcare, those are the things that we really need, is to feel better, to get better, to find the newer version of yourself.

[A]

Yeah. And it's a source of. I mean, it sounds like the business came out of a need for relationship. Right. Having relationship both with each other, but also bringing relationship out into your community. And when you go into partnership with a loved one, with a spouse, with a family member, with a brother or a sister, there are lots of internal dynamics that can come up. Tell me a little bit about some of the challenges that you guys faced and how you navigated those. Tasha, do you want to try that? You want to take that one?

[C]

Yes.

[D]

Some of the challenges are a lot of the challenges. I should say some. I think it's a lot more than some, but I think some of those challenges were like. To be honest, I wasn't totally on board with starting a business in the first place. You know, I just kind of went back and forth with it, but I was like, just, no, I just don't have time. And, you know, you got to do this and you got to do that, and it's going to take all of our time, and we're not going to have time for each other. I just. I cannot do this. But I think just a lot of we had to really learn some different strategies for communication with each. With each other, because.

[C]

There were very.

[D]

There were times that our. Our relationship was. Was tried, like, totally tried, and it had never gotten to that point before.

[A]

So was that because you guys saw things from a different perspective or what. What was sort of the source of that?

[D]

Absolutely. Both of us coming with our perspective of why this would work or why this would not, and. And just kind of going back and forth with that and then at the end, coming to a common ground or a compromise.

[C]

Why don't you tell them about how I wanted to do the workshops and you just. You wanted to do the Kindles?

[A]

Well, yeah, that's what I was gonna ask is, you know, when did you decide to move from doing workshops and sort of this, you know, community building exercise to being like, we actually have to sell a real product.

[D]

Yes. Cause I, like, I didn't wanna. I didn't wanna go. I was like, I gotta talk to people. Oh, no, let's not do that. I just wanna do. I just wanna make candles. I scenes. I don't mind being the ghostwriter, but I don't want to have to go out there and mingle with people. I have to do that all day long at the hospital. I just. I just can't do it. So, yeah, I was. I dug my heels in about not wanting to move forward with workshops. But yeah, let's. Let's start a little e commerce business selling these candles and room sprays online. I am totally with that. But just seeing the feedback and the reaction that we got from our clients, you know, by, you know, going around and doing these workshops, I was like, okay, well, maybe we are onto something here. Let's let's go ahead. I reluctantly said, let's. Let's move forward and see how we can get this going.

[C]

But, you know, Tasha's being a little modest because, you know, honestly, I only wanted to do the workshops. Okay. And so, you know, we were. Or when I say we, I really mean I was borrowing against my 401k. And she says, hey, we got a letter from 401k company today. I wonder, you know, what's going on. Of course, you know, the company that I worked for at the time, you know, had a big foot in our benefits. And so I said, oh, I'm sure that's just a benefit letter, you know, to. With some stuff that's going on at the company. And so she opens it, and she's like, hey, you withdraw from the 401k. And I said, oh, yeah, I forgot about that. I took some money out so that we could keep. Keep making candles with people. And she says, oh, well, it's time to turn it into a business.

[A]

Wow.

[C]

Oh, wait. Huh? Why. Why would we do that? I don't want to turn it into a business. I want to just keep doing this. And, you know, but luckily, she had the. The thought process that, you know, we can build this, but, you know, I wanted to do workshops. She wanted to sell just the candles. And so she says, well, before you take out more money from our 401k, you. You have to agree that we are going to at least try to sell what we call inventory candles or candles that we just make and sell because people have e Commerce. Look at these wonderful platforms that only have E Commerce. And so, selfishly, I just wanted her to say, yes, yes. You know, so I was like, oh, okay, yeah, I'll. I'll do that. And she's like, no, really, we have to sell candles. And luckily, she did that because for three years. For three years, we so sold more, probably two or three times more of our inventory candles than we did workshops.

[A]

Wow.

[C]

So.

[A]

So it really kept you guys afloat because of your idea.

[D]

Yeah, we had to find something when those. When we weren't getting those people through the door, you know, how can we create revenue?

[A]

Yes. Make it sustainable.

[C]

Exactly. Yeah. And so it really. It. It not only helped, it carried us.

[A]

Yeah, for sure. And that makes total sense, Robert, when you have conversations with. With partners. Right? With. With people who are in business together, what is. How do you negotiate this part of communication and, like, what we decide together for the business versus what we decide together as, you know, having our personal Relationship.

[B]

What I love about what Tasha and Rika said is really about understanding and respecting each other's strengths and working styles before they actually dove into this business. And that's one piece of advice that I give to business owners constantly. It's easy, you know, to get caught up in the excitement of starting something new together, but taking the time to understand what each person brings to the table goes a really long way. And the key is really just, you know, playing to your strength, dividing the responsibilities in a way that makes sense. And don't forget to celebrate the differences. Right. Because they can actually make your business stronger and keep your partnership healthy as you continue to grow.

[A]

Right.

[B]

So it's certainly identified in what you ladies shared, and I love that.

[A]

Yeah. And you know, one of the things that Rika said was that she took money out of the 401k before actually like letting Tasha know. So, you know, there is this aspect of the financial portion of this. How do you encourage founders to keep financial transparency front of mind so that you keep that partnership structure strong and solid?

[B]

Yeah, great question. My biggest piece of advice is to make it a priority from day one. I mean, you have to set up a very clear system, like separate business accounts, for example, so there's no commingling and regular check ins. And that really lets everyone know exactly where the money is going. I have this quirky little acronym that I share around the word system, and it really is, you know, saves you stress, time, energy and money. So when you think about putting a system in place, financial transparency is the backbone of any great partnership or relationship. And both partners should always have a clear view of spending and what the shared goals are. It also helps to use tools or software that tracks income and expenses in real time. That way there's no surprises and you don't shy away from talking about money. Schedule regular conversations, be very open about it, about the finances, about the budget, about the goals. And finally, I always recommend putting agreements in writing whether you're related or not. And it could be about roles, it could be about compensation, it could be about how big decisions are being made. But structure and transparency build trust, and that's the key to a successful partnership. Yeah. Again, another quirky acronym. I always share the the term blt, Believe, like and trust. And that's the key to a strong partnership.

[A]

That's the foundation of it.

[B]

Yeah.

[A]

How did you guys, Tasha and Rika, negotiate this part of. Of sort of your business relationship and your personal relationship? How did you keep the business stuff transparent and the personal stuff Transparent as well, while negotiating it from a. From different perspectives. Right. Because, Rika, you said you were like, I just want to do the workshops. And Tasha was like, no, we actually have to sell product. So how did you guys kind of come together and manage that? Because I feel like there's a nugget of knowledge in that that we could share with our listeners.

[C]

You know, I think that in our personal lives, we had a great habit of making sure we divided money where it needed to go. Okay. We taught our kids that. Now we're teaching our grandkids that. But there is this piece that goes to the house, and, you know, then there's this piece of what is left over and all of these different pies we had to make sure we mimicked in the business. Right. But it was a little different because, you know, I was making a great, healthy income, and we hadn't yet decided that I was going to step away. But on the same token, we knew we had to structure it this way, because if you're only managing things from one account to, you know, Robert's point, if you're only managing things from one account, then you really can't make sure you're moving things the right way, and you can't see the transparency of what is revenue versus profit. Right. And so. And you kind of trick your. Yourself into thinking, oh, we're doing really, really well, because you see that you have, you know, more than three digits in the bank, and you're like, oh, yeah, this is great. Well, you have people to pay, and, you know, there's some other, you know, fiduciary responsibilities. So I think, because we had a long talk with each other about how to keep the life plan going.

[A]

Yeah.

[C]

You know, and what can we carry over into the business? And I think the greatest thing was us really making sure that we separated all of those, you know, the accounts and making sure we looked at it like the way we looked at our life.

[A]

Right.

[C]

Because it was really successful there. You know, and then if things came along that we weren't anticipating or expecting, it wasn't the ball just, like, breaking right.

[A]

It was the bottom wasn't falling.

[C]

It wasn't, you know, so. Yeah.

[A]

And how do you divide sort of and conquer your personal lives and your professional lives today? Like, do you have set board meetings where the two of you walk in, in your professional Personas and say, okay, we're going to talk about the business now? And then do you have certain times that you set aside that you're like, nope, we are this is off limits. We are not having this conversation right now. Like, how do you negotiate that?

[D]

Ooh, how do we negotiate? Well, we do have set lines on, like, hey.

We'Re not talking about Black Flocks today, right? Or, you know, we do have to, like, put in a calendar, you know, date nights or, you know, every month, or, you know, whatever the frequency is. So we had to set those hard lines on. Hey, I know I need to lay down. I need to shut my mind off. Arika, you can't. Yeah, I can't. I can't take any more.

[C]

Okay.

[D]

So, yeah, I think we still struggle with that sometimes, you know, kind of cutting off, you know, business from personal. But I think we've gotten. We're 75% of the way there.

[C]

Yeah, absolutely. You know, but you, to your point, we have these times and days where it is, for example, Tuesdays is my no business day.

[A]

Gotcha.

[C]

Okay, so you. I will go home, and.

When I wake up on Tuesday, we're just not going to have any business conversations. Nothing at all. Because as we all know, business can be 24 hours a day, 48 hours. It turns from 24 to 48 hours, you know, in one day, and before you know it, you're three days with no sleep, and you just can't do anymore. So, um, we really had to draw those hard lines, you know, And Tasha started to tell me things like, hey, when's the last time you went to, you know, just went to Neiman's? And I was like, wait, we have Neiman's money? She's. That's not what I said, okay? I did not say we had Neiman's money. She says, when's the last time you went? You know, and it was a way for me to kind of just get out, get away, you know, because I was so hyper focused on that, you know? And to that point, the business meeting meetings were things that we also had to put on the calendar. This is the day that we're gonna do. Because you think to yourself, you're having all these little micro conversations, and to you that means you made a decision. No. She often says to me, oh, wait, did we actually make a decision on that? Or was that just really a conversation? So we had to start to put in actual meetings, which occur on Wednesdays because I'm off on Tuesday, you know, but we do those on Wednesdays, you know, like twice a month. Right? So, you know, we can make sure that we make decisions, decisions, you know, but it's hard when you wake up and you See that person, hey, did we do this? Did we do that? And it sounds like it's a true decision point. And, you know, but we needed to close the gap on some things.

[D]

Right.

[A]

What kind of outside relationships did you seek, say, from, like, Chase for business to help support sort of this transition from, you know, a business that was clearly driven by passion to something that became a profitable, marketable product that you can. That you have now made success across various platforms and even in person here in Houston.

[D]

Yeah, we've both been.

With our personal accounts, have been chase customers for 20 plus years. Easily back before it was even Chase. Yeah, yeah. So it was just a natural decision to. Once we were looking for a business account, opening a business account, that it would be Chase, you know, and so, you know, we went to our local branch and luckily we had Daniel as our. As our business banker. And I would say he was one of the first people that just kind of made us think outside of the box. And, you know, not just.

[B]

We were.

[D]

We were human, if you will. And not just another account. Because he asked, you know, he was concerned about, you know, what's your next move? What's your. What's your goal here, you know, with. With your business? And, you know, at the time, yeah, we had some goals, but it's kind of like, huh, did you hear what he said?

[B]

What.

[D]

What are we. What are we doing here with this? You know, so he. He definitely got those wheels turning and got us thinking out of the box. And I am so thankful for that because of where we are now.

[C]

As Tasha said, we've been Chase customers for a long time. Okay. And so it was that natural transition for us. But, you know, what we found in our Chase for business partners, because that's really what they are. They're not Chase for Business bankers. You know, I know that's in their title, but when you can walk in and your business person says to you, oh, Rika. And you look at each other and then he says, tasha. You're like, wait, you remember my name? You know, but they are really talking about how you're going to remain and grow in business, and not just how you're going to remain and grow a customer or more numbers in the account that you're not walking in. And while they have all of these amazing resources, from lines of credit to, you know, other opportunities, he really was vested in making sure we had a plan beyond tomorrow, you know, and letting us know that it's those things that will derail you. So make sure you can write them down so you have something to work from. You know, a roadmap.

[A]

Right. So something that's sort of a touchstone for you guys to go back to when you're having these conversations.

[C]

Absolutely.

[A]

When you're like, okay, how do we want to grow? How do we want to invest our money for the business? And how do we want to invest it personally as well.

[C]

Yes. And making sure that you remember to. I remember the one time when, you know, and we didn't have a lot of financial conversations, but he was like, did you start paying yourself yet? And I looked over, and I was like, why would I do that? I don't need to pay myself. And he was like, well, you know. You know, there's also a life that you have to maintain, and you have to have personal credit outside of business credit. And I was like, oh, no, no. My credit score is fine. And Tasha's credit score is like, 9800 million 52. So we're good. And he's like, but the Tthing is, though, one things happen. You also have to maintain your regular life outside of the business life. And so don't forget that you need to pay yourself, you know? And it was. So Tasha's responsibility is payroll. Okay. I don't do anything with payroll at all. And so she says to me, the next pay period, hey, Daniel said that we have to start paying ourselves so all of the money can't go. And I was like, wait, now you're listening to Daniel? Really? You know, but it was so awesome to have a person who would say, here's this great map that doesn't have to do with just how you can grow with. Or Chase can grow with you, but you can grow with us.

[A]

So it's much more of a personal relationship as well. Like you said, he remembers your names. He asks about family members, I'm sure. And follows up.

[C]

Exactly.

[A]

And, Robert, I want to turn to you because this sounds a lot more like mentorship or community building in a lot of ways. You know, tell me a little bit about how Chase for Business offers these tools to partners or spouses that are coming in to start their own business. And what does that look like? Especially as they navigate this challenge of growing a business or even starting a business.

[B]

Yeah. So first, Tasha and Rika, thank you for trusting us with your relationship for so long. We really appreciate that. And I think you said something really powerful, and that is most people look at financial institutions as transactional places to go. And the reality is we should be your partner. We should be a part of your vision, and we should be helping you get from where you are to where you deserve to be. When I think about mentorship, I mean, Chase supports more than 267,000 small business customers right here in Houston. So we really get a broad perspective of what works our local business relationship managers, you know, provide not only the business side, but that personal side that you mentioned and one on one guidance to connecting founders with the right financial tools, credit solutions, and mentorship opportunities. We also partner with external resources, like, for example, the Houston East End Chamber and the Montgomery County Hispanic Chamber that support and reinforce a lot of the financial education that we provide and they help business owners scale with confidence.

Overall. We just try to be a partner that founders can rely on so they're not navigating these challenging times alone.

[A]

Yeah, and I mean, I think that's part of building the community. Right? You mentioned community partners. You mentioned how much work you guys do in the community. And part of building a community really means engaging the people that you work with in the physical location that you work with. And Tasha and Rika, tell me how you guys have sort of cultivated this community of creatives and people that are really passionate about your work, but also at the same time sort of balancing the business part of it.

[C]

Oh, it's so funny that you say that because, you know, this is, you know, coming from healthcare, it wasn't this huge leap to ensure that we were grounded in the community. What I think we were really surprised by is that Chase didn't necessarily just do it with and for us, they were really aligned with our values, which were community wide, where we were, whether it was from our cultural values to our work ethic and the whole nine. And they really sought to ensure that they could identify gaps before they became holes. Holes before they became problems. Problems before you had to borrow against them, you know, and those things. And so I think that is where our.

Or our participation in the Coaching for Impact program is really. So tell me about that. Incredible.

[A]

What is the Coaching for Impact?

[C]

The Coaching for Impact program, really, it's sponsored by Chase for business, of course, and it helps us to really take a deeper dive into what we have. It doesn't give you answers. Okay. It makes you do the work to identify those things that are common across any type of small business. You know, so you can start to navigate, negotiate, and look at them with a different lens. You know, me coming from leadership, Tasha coming from, you know, being a great team builder where she was, you know, we had just different lenses. The Coaching for Impact Program, you know, led by Zakis Jordan, really helped us to see things a little differently and where streamlining things and noticing that they could be an issue first would really, you know, help us. And, you know, she too, is this amazing community partner that aligns with our values. And, you know, you could call them and say, you know, hey, this is what I think is happening, or whatever. But before you can call them, they're gonna already be there. They're gonna be like, hey, it's been too long. Don't forget we have to have a meeting so we can make sure that we are consistently building on your progress. So the Coaching for Impact program makes sure you can see things before they become that issue and that problem. So many things we didn't realize. You know, they're the reason where you were able to scale from candles to perfumes and colognes and all stay in that same realm, the same messaging, but still grow. Not just like pivot. Pivot's the new, you know, orange is the new black type word. You know, everybody says pivot. That's new buzzword, you know, but it. And in Tasha's voice, she says, don't forget to keep the main thing. The main thing, you know, and so to not having too many messages, make sure that it's still within that realm and that you can shape things as you're growing, you know, and scaling, not pivoting.

[A]

Right.

[C]

You know, so, yeah.

[A]

So it gives you a foundation to nurture that passion.

[C]

Absolutely.

[A]

That was actually the seed of your business.

[C]

Yes, for sure.

[A]

And you know, Robert, most small business owners start their businesses as a passion project. How do you guys help think in this space about turning a passion into an actual feasible business that can be sustainable and long term? Like, how do you help them reframe this passion? I'm really enthused about this to be something that they can actually pay themselves with, you know.

[B]

I love what you said, Alan Riga. Thank you. Specifically as it relates to the Coaching for Impact program and the impact that it's actually making on business owners. I'm going to touch on that in a little bit more detail in a second. But you know, to answer your question more specifically, it's really about helping business owners and founders transition from passion to process by offering them practical tools, you know, like a business checking account or credit solutions and our robust digital platform. I mean, this helps them to manage cash flow and plan for long term success, or as we often like to refer to it, as sustainable businesses. Our local bankers are deeply connected in the Houston business community. So they're able to offer one on one guidance and connect founders with mentorship, educational workshops and local partnerships. And that's truly taking advantage of the breadth and the depth of our organization.

As Rika was talking about earlier. I think one of our preeminent programs is our Coaching for Impact program. It's actually free to those business owners that meet a certain criteria and they get to experience.

Time with one of our senior business consultants who will provide that one on one executive coaching specifically tailored to business owners goals and objectives. In addition to that, I alluded to the workshops. We facilitate very specific workshops for business owners as a collective. And a beautiful part about that is inside of these forums there's an opportunity for businesses to network with one another or as I like to say, create an opportunity for intentional introductions. And when we do that again, we leverage the breadth and the depth of our organization by bringing like businesses together. You know, keep in mind, I mean Houston is booming. It's the second fastest growing city in the US and we're seeing more and more entrepreneurs start businesses every day like black flocks. So we're always happy to put them in the same room together.

[A]

Yeah, absolutely. And you guys actually intentionally chose Houston when you started to expand Black Fox. Tell me a little bit about why you chose Houston and what it was that drew you to the city.

[D]

Oh my gosh, I've been wanting to move to Houston for years. I want. So of course we met in the Dallas Fort Worth area, lived in that area for 20 plus years, but would always come to Houston to either go to the beach or some concert or see in laws. So probably seven, eight years before we even moved here, I was like, I want to go to Houston. I want to go to Houston. I want to move to Houston. I think just the diversity that we see here, the, the opportunities that we seen with the people that we, that we knew that were already here. It just seemed like the natural decision to choose Houston, right?

[C]

Yes, absolutely. You know, it's one of the things when we first started and decided or Tasha forced me into starting the business aspect was, you know, we would go back and forth to Dallas because that was like everybody we knew and loved. We had a lot of support in Dallas. Our kids still live there, you know, grandkids, like I said. But you know, we really said okay, maybe we should move back to Dallas because we have so much support there. But after we had a little conversation, we, we were like, wait a minute, you know what? We don't necessarily want people who know and love us okay. We really need that organic piece. So we had to look outside ourselves. And, you know, as we were growing, we decided, okay, if we're able to do this amount, it sounds crazy, but if we were able to sell 10 candles in Houston in a month, that sounds so crazy now that I say that if we were able to sell 10 candles in Houston in a month, then we would, you know, really seriously consider Houston. And then, like, somebody told somebody else, and somebody told somebody else and somebody, you know, and so the organic piece just kept growing and growing. And so we were like, wait a minute. No, no, no. We don't want to move back to Dallas. You know, we. You know, Houston is great and amazing, and we were reminded about all the reasons we moved here. Right. And that community just started to support us, and we saw more and more growth. And, you know, we were like, wait a minute. Houston is definitely where it's at. Like, stay here. And I looked over at her and I said, why'd you try to get me to move back? Okay, girl, you can go back.

[D]

I'm stay here.

[C]

She's gonna stay here, you know, but it was really the organic piece of wherever we were, where we didn't have all of those connections.

[A]

Right.

[C]

That really told us this was gonna be great. And again, back to the. You know, I hate to sound like cliche, but the coaching for impact program, you know, when Jacques was telling us about how we were going to grow and what we needed to do, she kind of challenged us, because when you're starting a small business, you don't know what you don't know. Right? Right. And so this area of immersive experiences coming out of COVID people had cabin fever. Right. That was one of the things that really made us successful. But we didn't know who was in the business. We didn't know anything about, or I shouldn't say we didn't know anything. We didn't know the people that were connected in scent and fragrance making here in the greater Houston area. And so she says, well, who's your collaborator? You know, you know who your competition is, but who's your collaborator? Where's your collaborator? And so we. There was another small business outside of the state who was just as hungry as we were. She had just started her own business making or just opened a storefront. And really about the same time that we did. And so we forged this new collaboration where her model is a little different than ours. So Tasha and I are actually going to go up there next week to really do all of her sessions, and we put together a tool that we can evaluate each other, and then her and her husband are going to come down here and. And do the same thing. So we have a partner that can really see through a different lens. Our coaching for impact partners helped us to see that that was needed, that was necessary, and you could do this with a level of comfort that also helps someone else. And at the end of the day, that's exactly what we want to be able to do.

[A]

It's a really interesting idea to, you know, to Robert's point, to use to make, you know, sort of these introductions to other businesses that can help support you in a way that you would not have thought about in a million years.

[C]

Right.

[A]

You have to have that external sort of voice to be like, hey, this is a safe space. We're going to talk about. This is the crucible where we're going to talk about, you know, where some of the holes may be, but we're also going to talk about how you can actually find somebody that you can partner with to evaluate those. Those gaps or help you support those areas.

[C]

Absolutely. And what's also really funny is you. You realize that they're having some of those same relationship issues that you, you know, she was like, but my husband. And, you know, so. And then they understand that they're not just like the black beautiful out there in the middle of the ocean. Exactly. And, you know, it makes everyone feel human that they're also growing something, you know, quite organically and that they had some of the same issues. And, you know, so you can help each other at the same time and feel human.

[A]

Yeah. And you know, at the same time that you may be in the same space.

[C]

Absolutely.

[A]

Right.

[C]

And, you know, that's the real impact. Right. Yeah. We would have not really thought about that or even thought to be vulnerable.

[D]

Yeah.

[C]

Right. Because you don't want everybody to know that you're.

[D]

Yeah. And it's more, you know, collaboration over competition, you know, And I think it's like you were saying, you know, it's. It's very necessary for your business. And I also feel it's very healthy, you know, to have that outside person to see those things that you. You may not even. May not even be on your radar.

[C]

Yeah, for sure.

[A]

You don't know the things you don't know.

[B]

This conversation is so amazing. It just reminded me of a term, and I feel kind of ashamed for saying this because I've just learned this term a couple of years ago, but the term is confluence, and I'm not sure how familiar you are with that, but, you know, confluence is an earthly phenomenon when two rivers come together to form one, and that merging creates a stronger current. So as entrepreneurs, sometimes you're a movement by yourself, but when you identify a partner.

You have that force. You become a force because now you're working together, and sometimes that's the biggest challenge. But, you know, the outcomes at the end of the flow, where it means you have to give a little something up, but you become a lot better in the process of doing that. So I love to hear the fact that you guys are thinking along those terms because it really speaks to what partnership is all about.

[A]

I love that. And, Robert, my final question for you is, you know, what piece of advice do you have for someone considering starting a business in partnership with a loved one, a spouse, a brother, a sister, even a friend?

[B]

Prayer. Actually.

You know, I alluded to it earlier, but, you know, if there's one piece of advice that I share with every co founder, it's really just get to know and respect each other's strengths and working styles before you dive in. You know, partnership is like any relationship. There's give, there's take, and you have to measure that in a sense. And, you know, I learned a concept many years ago called building the bridge. And it doesn't mean that when I say I'm going to give 100%, you compare it to your 100%, it may look like you're 80%, but at the end of the day, award my efforts. Just know that I'm working towards the same goal that you're working towards. So it's really about helping our entrepreneurs appreciate that piece of who they are inside of this partnership.

[A]

Yeah, I love that. I love the idea that, you know, my 100% may not look like yours, because I think so often in business, especially in partnerships, we expect our partner to meet whatever our hundred percent is. And it's sort of that same. To circle back to the beginning of our conversation, that same idea of communicating. Right. We communicate differently. We communicate in different ways, and we have different levels that we want to go to in order to make something successful. And Tasha and Rika, what piece of advice would you give yourselves? Like, if you could go back in time and when you started blackflox, what piece of advice or what thing would you say to yourselves now that would be like, hey, you know, we need to think about this going down the road.

[D]

What I would tell myself, I would say, learn to say no, it is okay. It is okay to say no. To certain things and certain people.

Also to do that research. Do that extensive research just to save you a couple of coins.

[A]

Do your research before you invest.

[C]

Yes, yes.

[D]

Because that trial and error can be costly.

[A]

Yeah. And that's not only on the, like, financial front.

[D]

Absolutely.

[A]

Right.

[D]

Yes. On all fronts.

[A]

Yeah.

[C]

Emotional, relational, all of it.

[D]

And also something.

And I still work on this, you know, allowing yourself a little Grace. You have to allow yourself Grace, as well as your partner Grace, you know, so I think that's very important.

[A]

Yeah. What about you, Rika?

[C]

Oh, boy one. I'll say that if you've ever been in leadership, and I still, you know, still struggle with this, make sure that you're. You don't try to manage your partner in the business, you know, so we coming from a space where I was the one who was in charge and, you know, people come to me for the answers. I had to remember I can't manage her. Tasha's not shy about making sure I knew that I was managing her, you know, but making sure that you do open yourself to those great. That Grace and those, you know, small wins. I think that the other thing I would definitely tell myself is make sure, you know what you can do for free before you go pay for it. You know, sometimes we get so excited about starting the business that, you know, we don't know what the resources are that are out there that we could learn for free, and we want to go and pay for those. And then when someone comes along a little bit later and says, oh, wait, you were paying for that. You know, you could just do this. Right. You know, so I remember paying for a different class to actually learn how to make candles a different way. And I'll be darn. There was YouTube the whole time. You know, YouTube University is real. And so. And then also learn the legal implications of anything you want to do. Okay. There are legal implications to anything. And now in the age of AI, you can. You can really go to your artificial intelligence. Mine. His name is Dave. Okay. Tasha, what's yours?

[D]

Oh, his name is Rashid.

[C]

Rashid.

[A]

Okay.

[C]

I was like, wow.

[A]

Do they talk?

[C]

They do now.

[A]

Oh, they didn't before.

[C]

Not before, but they do now. Yeah. So. But, you know, there's a lot of answers you can get before you ever spend a dime.

[A]

Yeah.

[C]

You know, so make sure you do a little bit of the free research before you dive in financially.

[A]

Yeah.

[D]

Yes, indeed. Those emotional decisions can be costly.

[A]

Yes, absolutely. Yeah. Well, I want to thank you guys for joining me today. I can't tell you how enjoyable this has been, and I feel like even as my own, you know, entrepreneur myself, I have learned a lot in this session. So thank you so much for joining me.

[D]

Thank you for having us.

[B]

Thank you.

[A]

That's it for this episode of the Experience. Thanks again for joining us. I'm Abigail Bassett for Ink Custom Studio, and my producer is Blake Odom.

[C]

Panoply.