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A
Foreign. Welcome back to another episode of Trading Secrets. Today we are joined by mother, wife, businesswoman and reality TV personality from Bravo's Real Housewives of New York, Erin Leachy. Aaron is a multifaceted single serial entrepreneur. She is the co founder of Mezcalum, an all natural 100 Mezcal brand where she oversees marketing initiatives and branding strategies as a cmo. In addition to that, Aaron has worked as a real estate agent, co founded a successful hand brand, launched an interior design build firm, all while building a strong personal brand. Most recently, Aaron became a cast member of Real Housewives of New York and holds multiple roles in the media and entertainment industry. She defines everything it means to be an entrepreneur. And Aaron, thank you so much for being on Trading Secrets.
B
Thank you for having me. I'm excited.
A
You got a stacked resume.
B
Oh my gosh. Sometimes when I hear it, I'm like, damn, I need to take a break.
A
How do you, like, I mean, I've got a million questions for you, but like, how do you actually manage all of that? Is it a good team? Is it you just work 24 7, like, how do you actually do it all?
B
I feel like my brain works in a way that, like, I need to be doing multiple things at once for it to be functioning properly, which I know sounds really weird, but it's like I, I must have add and I just have figured out a career that it works for.
A
So it took me 35 years to get diagnosed with ADHD. And the second you started saying it, I'm like, eh, it sounds kind, I'm not a doctor, but it sounds a little like that, right?
B
And I think people talk about it with a negative connotation. I almost feel like it's a superpower because my brain works. I need multiple businesses and ventures. That's how I optimize my workflow.
A
Is it like the success of it or is it the chaos of it or is it the challenge? Like, what are which One of those?
B
I love it all. I love the journey. I love creation. So for me, it's like watching something come to fruition. I think that's why I've loved interior design so much and really building. I mean, I went to NYU and got my master's in sustainable development. And I just love being able to like, you know, conceive what the place or the building or the house could look like and then actually seeing it come to life. Okay, that's. To me, the most exciting thing is the same with business. You know, business is a thought. It's like it's something that pops into your. That's what happened with Mescaloom. And then all of a sudden, we have bottles and we're distributing, and we have a distributor and we have a team, and it's wild.
A
Yeah. The thought becomes reality. You have this blank canvas, and you've created an unbelievable reality. But one of the things you thought about twice was going into reality TV because you had mentioned some of the concerns. And so I'm thinking you got everything set up here. It looks like a beautiful slate. It's not a. The blueprint. It's a mosaic. Why go on reality tv? Why take the risk?
B
It's another challenge.
A
Okay, that's the chaos part.
B
Yeah, probably. That's the chaos part. Yes. Correct. And I feel like the way that the show was presented to me, which is what the show currently exists as, was kind of a fresh start and a fresh take on New York, and I was really excited about that. Having a bunch of women that have careers and families and businesses and, you know, so much going on. And they live in New York, and we're all diverse, and we live in different areas and we come from different places. It was so different than what the show was before us.
A
How did you perceive it as what it was before you guys?
B
It was a little, you know, enclave of Upper east side women that, you know, ran in the same circle. Like, that's what it was, you know, and then they'd have new people that came from the same circle, and then that's why they would, like, they were sleeping with a lot of the same guys, and, like, you know, that's what happens when you.
A
That's for good tv.
B
Yeah, it's great tv. I mean, they were epic, incredible women. But I was excited about this new version, which is, in my opinion, what New York really is.
A
You know, how did they find you, or did you find them?
B
Actually, they found me. So one of the original people that were supposed to be on the show had recommended me. It was very quick for me.
A
Yeah. Like, so you get recommended. She's no longer on it. Is it a quick process?
B
It was very quick for me. I know that the other. Some of the other girls were in talks for years.
A
Yeah. So I've been on. Been on reality shows. I've been on several of them being casted for a couple now. There's nothing like the word quick doesn't touch any of us. This was quick to hear that.
B
So I spoke to the casting producer, and then that was escalated, and I went and met with them. At Bravo. And then they gave me the offer on my 35th birthday, which is so wild. On my birthday.
A
That's a hell of a day right there.
B
I was like, this might be something I should do.
A
Was there anything, like. I think about Bachelor? A couple things happen. And now there's blood tests, there's psych tests. There's. I mean, there was one time with a bachelor. I always tell this story fun. There's all these producers around me, and I'm in this. The middle, in a chair, and they have me pick out a question from a bowl. And the question was, what is your favorite animal? And I said, lion. They said, why? I said, I love the movie Lion King. As a kid, I just like lions. So they throw me a pillow. They're like, start singing Lion King. And I'm in The middle of 30 people just, like, singing Lion King, belting it out. And the one guy's like, oh, yeah, you're going on the show. Was there any, like, curveball questions?
B
That is the craziest thing.
A
Yeah, see, you got it easy. You get it. You get one request, one interview. Boom.
B
No, there was no. That sounds like psychological warfare there. Oh, my. Bachelor franchise blood tests.
A
What? Well, they gotta. If you're sleeping with the other people, they gotta make sure you don't have STDs.
B
Oh, my.
A
Yeah, it's crazy. It gets intense.
B
Holy shit.
A
They're covering their liability, you know? All right, so it was simple. It was easy.
B
They obviously wanna understand you a little bit better. It was a long meeting. It wasn't like it was 20 minutes in and out. It was like a very long conversation.
A
Sure, sure.
B
And I think they got a sense of how we would all jive, and that was important to them.
A
All right. You're a businesswom. Had many successful businesses. Negotiating is a huge part about it, especially favorite things in real estate. Okay, so then how do you favorite. Bravo comes to you with an opportunity. It's a, you know, whole new cast. It's a whole new everything. These days with reality tv. How do you know how to negotiate? What do you do?
B
Well, one thing I learned early on in my career is you go to your experts and you ask people questions that you don't know the answer to. So one of my very good friends, luckily, is a partner, wme, and I called him my friend Benjamin Simone. I will shout him out. He's the best. And I was like, ben, I don't know, like, when I'm supposed to negotiate whatever. He's like, oh, don't Worry, I'll give you a red line. And he, like, redlined the whole thing and hooked me up, and I felt comfortable. I just trusted him. I've known him for years.
A
So, like, as far as experts go, did you talk to any of the previous cast about, like, what, therapeutic. Did you talk to the current cast.
B
About what they're pay the girls that were on it with me? Yeah, yeah. We all kind of, like, that's like a big.
A
We all know that, like, corporate. Everyone in corporations are like. It's like a big financial transparency thing where colleagues are, like, talking about. Yeah.
B
And it's a topic that's, like, normal.
A
Yeah.
B
Yeah.
A
So you guys all know that.
B
Yeah.
A
All right, cool.
B
Yeah.
A
Good. That's awesome.
B
Yeah.
A
All right. So one of your concerns in doing reality TV was the impact it could have on your personal life, looking back at your time on the show. Was that intuition on point?
B
Yeah, it definitely impacts your personal life.
A
Yeah.
B
You know, I mean, if you're in a solid relationship, I think you can get through it.
A
Yeah.
B
But if there's not communication and, I don't know, I could see it going south. But I think Abe and I, we have been. We've been together for a long time, and I'm, like, overly communicative, which is probably annoying to him half the time, but because of that, we're able to. We talk through things, so we just get it out and we move on. And I think ultimately we're solid. So. Having that base is so important. Coming into a show like this.
A
Huge.
B
So important.
A
What is the hardest part? Outside noise. Is it the internal noise? Like, what is the outside noise of? Just outside noise. Just constantly.
B
It's the outside noise. And it's like, you know, sometimes the opinions are so out of left field, and then other times it's like they back you up or they back him up. And then it's like, should I be feeling this way? Like, should I be more mad about this? It almost puts stuff in your mind. So you really. The best advice I've ever gotten is do not read the comments.
A
Yeah. It's true.
B
And it's impossible. In the beginning, like, in your infancy of doing something like this, like, everybody says, just don't do it. Everyone does it. Like, everyone does it. It's like a hazing to yourself. You do it again. Yeah. And then after a while, it's like, I just. I don't even care.
A
Yeah. You start to get numb to it.
B
Now I'm just like, whatever. Say whatever you want to say, you.
C
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A
So, looking back on it, is that a business decision you regret or are you happy with the decision?
B
No, I have no regrets, honestly, in my life, like, I. My handbag business was a fail. Like, it was a failure, you know, But I don't even see it like that. Technically it was because it didn't take off and I ended up selling the name. But on the other hand, it was the best learning experience of my life. I would never know how to build a business the way I'm building it now. If you didn't happen, never, either would Abe.
A
Makes perfect sense. All right, we talked a little bit about it before, but I wrote a book called Talk Money to Me, and it's the whole idea about financial trust.
B
By the way, I reposted your story today and had a bunch of my girlfriends were like, we love him.
A
Oh, that's sweet. That's nice. Do you want to know what happened when I reposted your story?
B
Oh, God. Bad things.
A
No, it was all very good, but I got a ton. Like. Like you have a lot of fans out there.
B
Oh, God.
A
But a ton of people were like, oh, my God, I thought this was your ex fiance. The picture that I. I didn't realize it, but that picture, the one picture I put looked it. I was like, oh, who are you?
B
Eng.
A
Her name's Caitlin Bristow.
B
And it was the one.
A
I don't think you guys. I don't think you guys actually look alike.
B
Okay.
A
That one photo, I was like, oh.
B
My God, they thought you were interviewing your ex.
A
Yeah, they're like, they're Like, I just had to do a triple check there. Right there. I'm like, no. Anyway, that would have been an interesting interview. But anyway, let's actually transition to some of the concerns you had in reality TV and then tie it to finance and business. So I read an article. I think anybody who's a Real Housewives in New York fan knows the story, but either you're quoted talking about the fact that you hadn't seen your bitcoin in a while. Yeah, bitcoins off the charts. It was high. And then you.
B
And higher.
A
Now it's even higher now. You thought it'd be a good time. Your exact words. To pay off a large chunk of the mortgage. You're excited to log in your account, see how much it had grown. And then when you got in, you were shocked, Major shocked, because your husband had sold it much lower than it is now. You're angry, and you felt as though there were financial secrets happening. And so we. In the book, we talked a lot about that. 43% of married or cohabitating relationships deal with financial infidelity, which is, like, this concept of, like, cheating through finances or. So did you. Did you feel as though this, like, went under the facet of financial infidelity? Like, did you feel like you kind of continued on with finances?
B
In a way, yes. But it's this. These kind of things are so nuanced, right? Like, so nuanced your relationship. Abe has a problem. I mean, he's much better at it now, but he had an issue with being an avoidant. Right? Like, he would just rather not ruffle feathers, like, deal with it on his own, not stress me out and just handle it. So, like, that was a common thing for him, and that's what he was trying to do. Obviously, it got out of hand, but, like. And it's not okay. And I was very upset when it first happened, but, you know, I know that it wasn't from a bad place, and it wasn't like he was out going to strip clubs and, like, blowing money on whatever it was. He was just trying to take care of the financial aspect that he had said he previously took care of.
A
Got it. So what I feel like in some relationships, people are hearing this, and they would be like, I would never check in on my husband's crypto. Like, I don't even know what's going on.
B
That's true.
A
But in your circumstances, did you guys. Do you guys kind of operate. Do you have, like, financial rules?
B
Yeah.
A
Do you do. In fully transparency? Like, what does it look like we do.
B
And we also have, like, roles. Like, there are certain things I take care of in terms of our finances, and there are certain things he takes care of.
A
How do you decide how to split those?
B
It just kind of happened. Like, I'm very ocd, very organized. I'm not actually ocd. I've been reading. Where have you seen this on Instagram recently, where people are like, stop saying big. Like, you know, words like therapy words.
A
Narcissist, ocd.
B
Yeah. Which I actually agree with.
A
Yeah. Like, everything's so overused right now.
B
Yeah.
A
Yeah.
B
But I'm just very organized. Like, crazy organized.
A
Okay.
B
So I have, like, spreadsheets and lists, and I make sure that everything is, like, done a certain way and blah, blah, blah. But there are certain things, like, he handles our mortgage and he manages, you know, like, if we're going to take out some money from the HELOC to invest in something else, like, that's his department. So we have, like, our departments.
A
Yeah.
B
And that was just his department.
A
So the bitcoin was his. Okay, so he did it. He did, like, kind of his duty.
B
Yes.
A
He just didn't tell you.
B
Tell me.
A
So what can you. You know, we talk a little bit about financial transparency on this podcast. What did you expect expect that number to be when you signed it?
B
Definitely over 100,000. Like, definitely. But I'll give him this. Like, on the other hand.
A
Well, that's one coin. Well, right now. Now it was, like, this second, it's like 90,000.
B
Yeah. And. And back then, when he sold it, it. It was less. It was, I think, like 40 or 50. No, it was probably like 50, but.
A
I mean, but we're talking a ton of coin.
B
I didn't want to. It was a couple. It was a couple. But, like, I didn't want to sell it at all.
A
That was such a confidence. It was a couple more.
B
Yeah. Like, I just didn't want to sell it at all. Ye wanted to keep them forever because that's how I'm also more like that, more conservative in my sales. But on the other hand, he's a really good trader. He's made that back in other things, so I think that's why it's give or take, and it depends on the person and the situation. So he's, like, made it back. He's fine. He knows what he's doing. He just didn't want to talk to me about it. But the real issue was it's not even about the finances. It's the fact that he didn't feel comfortable talking to me about it. So we had to work on our relationship. Why are you uncomfortable talking to me about it? And also, you need to step up and feel comfortable doing it. Also, I have to be kinder, I guess, when I receive news that I don't like. So it's like a two week.
A
It's like the psychology of it.
B
Yes.
A
It's not about the money. It's about like, where are the rooted things? And you use the word avoidant. Right. Like, I'm similar in that way. And so that probably came from learning that it was just easier to not step into it.
B
Exactly. And I actually thought it was really interesting to see how many people reached out and said, I have the same dynamic. And like, a lot of women were the avoidant ones. And even one person was telling me, I was on another podcast that she had all this credit card debt and she was afraid to tell her husband. Like, it happens in real life. It happens.
A
Oh, it's not. It's non stop. I would say the biggest response I've ever gotten to anything on Instagram when I put like a question or asking for people to email me is when I was asking for examples of financial infidelity. I'm like, have you, do you know someone or have you or anyone, like, got screwed over by the store? And they just didn't stop. They just didn't stop. Because it is weird that we live in this world where it's still, especially like you're getting married to someone and you still can't have conversations about like, I don't know, like, what do you make or what's your definite. Without a judgmental. Oh, no, not at all. And so that leads to so many issues post marriage. And it's just, it just doesn't stop.
B
It's just about transparency ultimately, like, just in any part of your relationship, you need to be transparent. Otherwise it just doesn't really work.
A
I totally get that one thing you already talked about the handbag company, but I think in one of your quotes you had said that there were also some other bills from the former handbag business that came up when you thought about this. So it was like another.
B
Yeah, there were like a few things that he was still clearing up that he hadn't cleared up that I thought was cleared up.
A
Okay. And does that just come from the idea of, I don't want to bring bad news to the table?
B
Yeah.
A
Okay.
B
So it was that same thing. Yeah, he was like, enough with the bad news. Like, we went through it Already, like I'll just manage this on my own.
A
Got it.
B
But like we're, we're a partnership, you know, Like I'm not just some girl that's like, you know, not doing any business. And, but even if I was like, you still have to be transparent.
A
100%.
C
What is one of your favorite hobbies in the winter?
A
I can tell you what mine is.
C
It is skiing.
A
There's absolutely nothing better than being out.
C
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A
When I saw the clip, the one thing I was curious about was when I saw his face when he brought it up on the show, I paused. His face was like, oh yeah. And I didn't know someone who's been in reality tv, I didn't know if his face was like, oh, you found this out or I forgot about it. It was like, oh, I can't believe you just brought up like a financial thing in front of cameras.
B
Well, I will tell you this. And it was actually something that I found attractive and like something I really liked about him. He said to me prior to us filming that we can talk about like, like. Cause I had, I don't know if you saw the beginning of that episode, but I had yelled at him about talking about mushrooms.
A
Yes.
B
Okay. And it wasn't about the mushrooms.
A
Yeah.
B
Like I, they caught me on camera talking about tripping in my house. Right. So like, it wasn't about the mushrooms.
A
Yeah.
B
But I was, I was upset with him and there were other reasons. So at home he was like, look if you want to bring up the real reasons, let's talk about it.
A
Okay.
B
So he was. He was being open and honest, and he decided to share that on national television because he felt like it's just what happened.
A
Yeah.
B
And it's the reality.
A
And, like, on a podcast like this, I think so many people can learn from it.
B
Yeah, right.
A
Like, it's. And I think the. The big thing that you said, it's about, like, the intention. Was it being done to go spend money on strip clubs, dumb things, or was it, you know, like, hey, I got. This is my job. I'm gonna do it.
B
Right.
A
Good. We're not gonna worry about it. So I think there's a ton of learning lessons in there.
B
Yeah.
A
We talked about the handbag company, so I want to go back to it.
B
Okay.
A
You said it was. You look at that as a failure.
B
No, I don't look at it as a failure, but we lost a lot of money, so, like, technically, it kind of failed.
A
You're setting me up to ask the question. Just teeing me up. How much did you lose?
B
Oh, gosh, upwards of over 100,000. I mean, we just kept pouring money. You know how fashion business, it's tough unless you're backed by someone big or you have some incredible new design or whatever it is, or you work in the industry for years before it is impossible. Yeah, it's impossible. You get screwed on, you know, minimums in Asia or if you're making anywhere overseas, you get screwed on minimums, then you start making it in New York, and you get screwed on, like, labor costs. And it's just. All of it. It's just really. It's very difficult. We actually really believed in making things in New York and in, like, our studio, we were making them in China before, and I felt very uncomfortable by it for many reasons. Many, many reasons. We went to Guangzhou many times and visited the factories, and we did the whole thing.
A
What's one thing we wouldn't know unless, like, we could hear from you in.
B
Those factories, the factories are not the way that they say that they are. I'll put it that way. They're not run properly.
A
Much worse than. Not all.
B
But the one that I went to.
A
The one that you saw, I was.
B
Very disappointed seeing the workmanship there, and it was upsetting.
A
And you know, how many people actually make that trip? None. Right. They just start buying.
B
Yeah.
A
Okay. So you then start manufacturing.
B
But that stuff is important to me.
A
Yeah, it should be.
B
So then we started manufacturing in New York. Yeah. And actually in Our studio, we had someone making. That's when we kind of pivoted to Framework, which was really like a custom design firm. And that was doing really, really well. But, like, you know, it doesn't operate well when you're running something in your own office. It doesn't operate optimally. Right. Like, everything is slower. You have to go buy materials from Italy that are transported to New York, and then you pay the broker fee on top. And then that costs a lot of money. And then you can't make it up in the markup. And it just was. It was like a never ending battle.
A
Yeah.
B
And New York is just so expensive. Our office was like, like incredibly expensive.
A
Did you guys raise capital? Did you do it all on your money?
B
No.
A
Okay.
B
And that's what I learned never to do again.
A
What's that?
B
To use your own money to build a business.
A
So you're all about the opm, Use other people.
B
Oh, yes. And give some of your business away. Do not be greedy about the percentage that you have.
A
All right, that's a good take there. So you put a hundred thousand dollars into this? Into this?
B
Oh, more than that.
A
More than 100.
B
Started with 100, probably.
A
And when, like when you were. Actually, I'm just curious, the business, how much were you selling the. The bag for?
B
Well, so it changed a lot, right? It started as one business and then it changed. But the beginning when we were selling leather handbags, I think they went. Honestly, I can't even remember anymore. It's like over 10 years ago. But I think we were selling them at from like 128 to like 400 something.
A
Okay.
B
There's still good price points.
A
All right. Yeah, those are pretty good. And the biggest lesson from that experience.
B
Number one, probably to build a business with help, bring in outside people, get advisors, build a proper business. That's what I learned. I did not build a proper business. I just on a whim, started an LLC name and started designing bags. This time, Abe and I went into it with a partner in sales. Advisors, raising capital.
A
When you say this time, what are you referring to? Yes.
B
Mezcaloom.
A
Mezcaloom. Okay, so tell me the breakdown.
B
We created the name, we bought the license, the LLC and all that stuff. And then we actually built an infrastructure before coming to market. Yeah.
A
How much?
B
We did not do.
A
Did you raise capital before coming to market?
B
Yes.
A
Okay, and how much did you guys.
B
Raise the first round? I don't. Can I say this stuff? I don't know.
A
This is what we talk about.
B
We raised. I Believe over a mil, because there was so much interest. So we raised, like, one. I know. We raised, like, I think one and close to one and a half. Yeah.
A
What it's like for anyone that's listening that's trying to raise capital, what was the selling point? Was it you as the brand ambassador?
B
Honestly, not so much. We sold our first year without it ever airing on tv.
A
Really?
B
Yeah. And we actually crushed normal, like, cases for a new brand. I mean, we beat what Casamigos did in year one.
A
No way.
B
Yeah, we did.
A
Interesting.
B
Kind of crazy.
A
So were you selling through liquor stores? What channels were you going through?
B
You have to work with the distributor.
A
Yeah. Oh, that's right. Distributor. Right. Yeah, legally.
B
But we hired a very seasoned, very smart SVP of sales.
A
Okay.
B
But he was under my best friend that I grew up with, who's our head of sales. So we had the proper motions in place. You know what I mean?
A
Sure.
B
We had all the right people. And what we did that was really smart this time is we have a band of advisors, and they're all from different walks of life. And, like, one of our advisors is John Geist, who is head of Boston Beer Company for, like, over 20 years.
A
That's a huge name.
B
Huge. Then we have Carrie Simon, who's the president of Hearst Media.
A
Oh, wow.
B
I mean, creative director. So we have, like, these people that are like, you need to be thinking about this. You need to be thinking about that. This is how we come to market.
A
Wow.
B
And most recently, around the time of our second round, we brought in the first ever hire of Casamigos.
A
Oh, wow.
B
Who is now no longer at Casamigos because, you know, it was bought by Diageo. Now Diageo runs the show.
A
Yeah, yeah, yeah, yeah.
B
So we have Max Blank and Matt Rotner, and they're a team, and they're unbelievable. I love you both so much. And they've just taken things to a whole new level.
A
So, I mean, when you talk about other people's money, you raise capital, you then build this team. But you talked about giving points away. Like, so are your employees paid lower salaries? And then they get points of the business? Like, how do you structure it?
B
So this is really funny because I was talking to another friend of mine who has a very successful business, and their opinion is that you should do that.
A
Sure.
B
You just said. But Abe's take, which I actually followed and agree with these. You should have him on. He's really well versed.
A
Yeah. Would love to.
B
Is that you don't want to skimp on the quality of the. Of the professional. You know, you want to give them that base salary that allows them to live in New York City.
A
Sure.
B
And then if they outperform, then you give them those incentives.
A
Okay.
B
So by doing so, we've had excellent workers, and that's allowed us to grow much further. Like, it's better to have the one killer employee than two that, you know, you.
A
Two Bs.
B
Yeah, yeah. Under what they really should be paid. And then maybe giving them incentive. If you're a big hustler and you're really a smart business person, you're not taking a low salary that you can't really live on. Like, I wouldn't.
A
Yeah.
C
So what is in New York City? What is that?
A
Like, I have the barometer right now. Yeah. So if you want to get someone in the door that is a perfect fit for this type of business, you're talking about 100 grand or so. Okay. And then they can work up accordingly.
B
And then they can work up. And then we. We always have bonuses.
A
Okay. We give bonus incentivization based on what you're doing. Okay.
B
Based on performance. And usually we give bonus. And we have. We also hired a great cfo.
A
Yeah.
B
That came from the liquor industry. We got a recruiter. Like, things that I would never have done the first time around.
A
Yeah.
B
You know, like, we hired a really good recruiter.
A
Okay. The best thing when it comes to investing is time. And if you have time on your side, you are in good shape. Now, let's take it a step further. If you're a parent, are you taking.
C
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A
Learn more@meatfabric.com so you get this foundation in place. I mean, you got. It sounds like you have sharks on the team. You then go on Real Housewives. How has the actual show and social media helped the business, or has it not?
B
Social media has been great. I said some really stupid shit this season about Mezcal that they, you know, that kind of went viral.
A
Give me an example.
B
I was talking about, like, 13, 14 years ago when I first went to Tulum, and our house manager brought us Mezcal, and I was like, I need to bring this to America. Mezcal's been in America for a very fucking long time. They sounded like an idiot, but it was very funny. So it got. It actually got us, ironically, a ton of eyeballs.
A
Okay?
B
But I think just like, the truth is that Mezcal is part of my life because I am at a stage in my life where I care about health and wellness, and I'm not also giving up the spirited life that I like to live. I like to go out and party. I'm always gonna have that side of me. But the same way I care about the food I put into my body, I care about the alcohol that I put into my body. I'm not drinking tequila with tons of additives. I refuse to do that. So it came out of necessity, you know? And also, Mezcal that I've tasted in America has traditionally been very smoky.
A
Yeah, it is like a little scotchy. Is yours different in that?
B
Yeah, it's very light on the smoke. It's very approachable. Like, when you mix it in an espresso martini, it doesn't taste like Mezcal. It just tastes like tequila. Like a good tequila.
A
Yeah, that makes sense. Is Bravo pretty supportive with the business? I mean, like, Bravo could have brand opportunities and commercials with, like, the biggest players, right? Like Patron or Casamigos. I mean, are they supportive of the small business? Do they help showcase?
B
Incredibly supportive. Incredibly supportive. And I'll say this. We. I mean, we love the crew on Watch what Happens Live, like, behind the scenes. And we were like, can we, like, gift everyone a bottle in the rooms? And they were like, absolutely.
A
Nice.
B
So we're in every. I mean, they're so supportive. I really have to say, Bravo and the network, everybody is so kind and supportive, and it's. It's a great place to be.
A
I love it. Have you done a second round of.
B
We're in it now.
A
You're in it right now.
B
Yeah. And Abe is crushing Abe.
A
Let's go. Making up for that, big boy.
B
Yeah. That's why I can't be mad.
A
Let's go. You can't be mad now. How. What is the goal? How much are you guys trying to raise?
B
I think we're looking at, like, two and a half.
A
Okay.
B
For this one.
A
Nice.
B
Yeah.
A
Okay, so you had the handbag business. You're a real housewife in New York. You have a mezcal, and you're also in real estate.
B
Yeah, well, I've been. It's, like, in my blood.
A
Yeah, yeah, yeah. Since day one. But you're still, like, what percentage of your week are you. Are you in real estate?
B
Not much. Although, anytime a friend or family member calls me to, like, help them with a deal or get involved in a deal, and I still do love doing a couple deals a year at least. Like, bigger. Bigger deals. I'm really enjoying selling real estate in the Hamptons.
A
Okay, Gotcha.
B
That's like. That's been a beautiful thing, business in the Hamptons. I've been enjoying.
A
I mean, the place is unbelievable.
B
Renovations in the Hamptons.
A
Hamptons, yeah. Well, that's a whole process, too, right? Just getting all the supplies out there and finding the right people. What, like a nice home in the Hamptons right now? Like, you want to ball out? What's it going for?
B
Oh, I think you're talking about my house.
A
Oh, yeah, yeah.
B
If you want to ball out, like, if you want to, you could go to 80 million. There's. There was just a sale from someone on our team. $89 million. $89 million.
A
What does that get you? How many square feet?
B
Crazy massive house on the insane.
A
90 million.
B
90 million.
A
And so you're doing, like, in a 2024. How many deals do you think you did in 2024?
B
Probably, like, four deals.
A
Okay. So it's a side hustle thing. Okay. And you were once upon a time, at least at your idm, it says you were on million dollar listing.
B
Oh, yeah. Because I worked with Frederick for years.
A
Gotcha.
B
And he actually called our team, and he said, who has someone who has enough money to actually buy this property in Sugar Beach Viceroy? And I was like, I could call half my phone list, and my friends could buy it. Like, I don't know if they will, but they can afford it.
A
Sure.
B
So he's like, okay, Aaron, who do you want to bring? So I called my girlfriend, and I was like. She was like, Actually, this is kind of interesting. So we ended up going on this fun girls trip to Sugar beach with Frederick and, like, filming her looking at Howard Lorber came. It was like, the whole thing.
A
Did they ever think about having you on as an agent?
B
I don't know. I was, like, working with Frederick, so I feel like it was different than the show. You know, there was so much drama that happened on that trip, and I was like, why are you guys not using this? And they were like, that's not the kind of show that this is.
A
Yeah, that was.
B
I feel like now it turned into.
A
Turned into.
B
The real estate shows have turned into that. But I was like, there was so much drama with Steve and this girl. Like, it was crazy. It was so juicy.
A
Like, what? What behind? Like, just arguing about the process.
B
No, there was this girl that was, like, trying to get with him. Fight. Oh, yeah.
A
All while still in a real estate deal.
B
Yeah, well, we were on a trip together.
A
Okay. That's true.
B
You know, it was like, a whole thing.
A
All right, so real estate's about, like. We'll call it 5% of your week. Right? All right. Do you have any desire to do other reality shows? Do you want to step outside of Bravo? Do a competition show? Anything on your radar? Like, what?
B
I would. What's the dream to do? Everybody says that I should be on Traders. Yeah, I haven't watched it, so that's. I should watch it.
A
New season airing here.
B
I should watch it. But I would love to do Dancing with the Stars.
A
Really?
B
Yeah.
A
Do you have a dancing background?
B
No, but I'm just so competitive. I feel like I want to, like, do it and, like, win. My dad was, like, obsessed with the show, so that's what makes me want to. Our.
A
But our buddy and former bachelor Joey, just won it. This past season. He won it. He was a pro tennis player. Never taken a dance class in his life.
B
See, I love.
A
Absolutely.
B
That. I think is so fucking cool.
A
Crushed it.
B
Good for him.
A
Okay, so Dancing with the Stars. I don't know.
B
I just feel like it would be so. To, like, learn something completely new.
A
Yeah.
C
Okay.
A
All right.
B
All right.
A
Put it out there. This right here. Let's get you out. Tell me a little bit about your interior design business.
B
I love so much. I. You know, the truth is, it's very hard with my life right now to work with clients directly because it's like. Like, I am so such a perfectionist that I'm picking out, like, their hinges and their doorknobs and everything. But we're actually in talks with a commercial project. So I think commercial projects are the way to go for us and our team. But it's a great business and really was born out of the necessity that I felt was missing in the market, which is designing properties with the market in mind. So a lot of our very wealthy clients at Ecklund Gomes would do these renovations, but they'd spend, like, you know, over a million dollars on them, and then they wouldn't be able to sell them because they've created, you know, like a bachelor pad in the middle of family Tribeca. Yeah, nobody's buying that here.
A
Yeah, that's not gonna happen.
B
Right. But no one's advising them. They're just making money and doing the designs that the client's asking for. We advise on, you know, the block, the neighborhood, all of it.
A
Okay, what's interior design? Biggest thing, my listeners back home. What is one thing they wouldn't know unless they talked to someone like you. You like, about the industry? Like, where are people getting taken advantage of? Or, like, where are the markups? Like, what's, like, the trading secret in that space? Because I feel like when you hire interior designers, it's always different quotes. I'm wondering who's getting paid back door? Who's getting a kick based on who they recommend? What should we know as consumers? They do make.
B
They do. It's very difficult. I was talking to my girlfriend yesterday, and she was saying how she got a quote for, like, a lime wash for 50,000 and then ended up finding someone for 10. So then $40,000 difference.
A
So then they're taking the 40k as a fee.
B
They're just. Yeah, sometimes it's like, if you're referred, the referral will take the fee or the designers will take the fee. The truth is, you do have to just do your homework. There's no way around it.
A
Okay.
B
One thing I'll say is sometimes it's like the simplest things that sound tricky that are actually the most inexpensive. Like, heated floors are not the. That expensive.
A
Interesting.
B
And they. It sounds like, oh, heated floors. So expensive.
A
But how do you know? Like, I wouldn't know who. How do you. But you're saying, doing your homework. How do you know where to do your homework?
B
You have to ask around contractor research. You should ask friends that have done jobs.
A
Okay. Okay.
B
You should also take a walk through Home Depot and see what's readily available, because a lot of these contractors go to Home Depot, and they're buying those heated floors, like, in aisle seven, and that's what they're using. And then you see how much that costs. And then you're like, hold on a minute. How much could it cost to connect it? Because we see how much it costs for. To buy it at Home Depot. So, like, things like that, we got.
A
To watch out for those markups. Yes.
B
Markups are a problem.
A
An interior design business. What do you think the average. Like, if you're looking at a full invoice and you had to guess, what do you think the average markup is?
B
Well, I know that. I mean, I charge a markup of 30% for anything I buy because it really does take forever to source. And also, if you're working with a good designer, they typically get like, a 20 to 30% discount. So you're really just paying retail.
A
Gotcha. So you're paying like a 10%, and.
B
Then they're doing all this work.
A
Okay.
B
But typically it's 30. Some of them charge like, 45%.
A
Okay. See?
B
And I also charge monthly.
A
So a monthly retainer fee. Yeah, that's really. I didn't know.
B
But the difference is, like, when you're working with a designer that also has build. She manages, or he manages the build firm, and that actually saves you money, because if you have a separate contractor or architect that manages them, then they're. You're getting, like, triple charged. You need one point person.
A
Okay.
B
That's how. So that is my biggest. Maybe my trading secret. One, one. Pick, pick. Do you love your designer? Do you love your contractor? Do you love your architect? Do not have three different people that are reporting back to you and charging you on top.
A
I didn't know that there was a retainer. What is a typical retainer? Low, high, would you say?
B
Oh, it totally depends. If it's like a tiny little apartment in the city, sometimes I'll do like 7,000 just to keep us going.
A
Interesting.
B
And then I'll go up. It could go up to, like, 30.
A
Damn. Yeah, it's a hell of a business.
B
It's the best business. Go back to that business.
A
I'm just kidding. What percentage of your time you spending.
B
On that right now? Zero.
A
Okay.
B
Yeah, I have one. No, that's not true. I have one project that's starting soon that I'm invested in because it's with my mom in the Hamptons, which is kind of where I'm pivoting.
A
You got investment property?
B
Oh, yeah. No, that's where I'm gone.
A
Chips everywhere.
B
I told you I'm crazy.
A
Yeah, she did start it off like that.
B
Told you.
A
So what's the play in the Hamptons.
B
I helped her flip a property and now we bought this new land. Well, it was an old house that worked. Just gut renovating and it's gonna be unbelievable. I'm so excited about this one.
A
Yeah.
B
Because this was such a deal, like such a great find.
A
Interesting.
B
That's what I'm kind of leaning into because it's really hard for me with like, what I have going on in my life to work directly with clients. So it's a lot about, like flipping, finding properties, rehabbing, selling, fixing, maybe renting.
A
I was gonna say, what about renting? Because I look at some of those rental properties out there in the Hamptons. They're 50, 100, 150, 200, 250 grand a month.
B
Oh, yeah. Business.
A
Yeah.
B
Yeah.
A
I mean, is that, that feels like the play.
B
That's, that's what we're going to do with this one.
A
All right, There you go. You'll have to come back on with Abe the babe and talk about that. Let's go.
C
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A
Let's talk about some of the Real Housewives questions. A lot of the listeners want to know. This is where pop culture meets money. But talk to me about your take on just the production of it. Like, do you feel as though what is most surprising to you about, like, the actual production element of the show that maybe we wouldn't see unless we knew behind the scenes that they take.
B
Their lighting very seriously?
A
Oh, wow. That was it. Okay, but what do you mean? That's a good. I could tell you a million things about some of these shows that I'm just, like, very surprised. Like, for Bachelor, I had no phone, no tv, no Internet, no music. You can't at all connect to your family, you know?
B
Wait, that's so.
A
Yeah, with hometowns, like, when. You know, when you see the family, the only time you can see your family is when. When the cameras are on. Because they don't want any type of, like. Yeah, wake up. What world are you living in? So are there any, like, production elements or just, like, do, you know, do they kind of pit you guys against each other? Is there anything there that you're surprised.
B
We do that all on our own.
A
You're just like, we're a special group.
B
Yeah.
A
We don't need blood tests or interviews. We just come out.
B
One thing that sucks is the music.
A
Interesting.
B
That's hard.
A
I didn't expect that answer.
B
Yeah, because we can't. Like, when we go out, it's hard with the licensing. It's not their fault, but we can't play music. And that would add such an element of, like, fun, I think.
A
Yeah.
B
It's like, how do you have a good time without blasting music with your girlfriends? Like, that's such an important part. But otherwise, production. No, I mean, I love our producers, so maybe.
A
All right, let's mix in business and your cast. I'm gonna ask you a couple questions, and then you just give me rapid fire. Who? Your answer would be one person in the cast that you would partner up with on a new venture. And why?
B
Either Jenna or Sai.
A
Okay, if you are, and why?
B
Well, I feel like Cy and I would be, like, a dynamic duo, and we'd both, like, hustle.
A
Yeah.
B
And Jenna, because we have a lot of very similar interests and attributes that I think would be beneficial.
A
Okay. If you gave a hundred thousand dollars to one of the housewives that couldn't be yourself to invest to just find the best return. Like, you're like, this person is going to double, triple, quadruple. This is the person. Person. I'm not involved.
B
I give it to Raquel to buy a piece of art.
A
All right. If you go into a new season, we talked about how you negotiated coming on. How do you deal with the negotiation going into a new season? How do you know what your worth is? How do you know you're bringing more to the table than someone else is? And then what are some strategies that you use for negotiation that are just interesting and or someone back home could also deploy when they're thinking about going to negotiate for their annual raise.
B
I guess compare, right? Compare what you've done and with, with what, what other people have shared and what other people have done. And I always say, shoot high, right? Why not?
A
Yeah. All right, so is that what you're going to do? Probably just go shoot for the stars?
B
Yes.
A
See what happens. All right. I love it. I love it. All right, well, we talked about all your different business ventures, what you're doing, how you're doing it. A lot of the, the listener base, we call them the money mafia. They're asking just like, yeah, it's fun. How you also just manage the intricacies of. Of all the things like in your personal life, like what are. Do you have any tips or tricks to becoming a boss entrepreneur and becoming larger and larger in the media day by day, but also managing a healthy life at home and all the things that are happening.
B
Great question. One thing I'll say is that you have to nurture relationships. So even if it's like, I was thinking about my college girlfriend today and I was like, I haven't checked in on them in a while, I should check in on them. So things like that, just even texting the group, being like, I miss you guys, let's get a date, dinner on the books. Because I do. I actually, I realize I miss them. I haven't seen them in a while. So like, that's very important because they can get lost if you forget about it. And then like, in terms of kids, when I see that my kids are getting a little out of whack and like not getting enough attention, I will take them to a one on one dinner. And it doesn't have to be dinner. Could be ice cream, could be whatever it is. But like, having the one on one time is so important and they feel so valued. And sometimes it's not about talking about, like, oh, I got an email from school today. So, you know, so I like, as a mom, like, I know I have to take him to dinner. But it's not about talking about the email from school. It's about just connecting with your kid.
A
Interesting.
B
And then that makes them like, that almost like keeps you going further. You could go and be like a businesswoman again. But nourishing relationships is my number one. And small things, big things, all the things. My number one key, like Abe and I, we, last year, after I think we wrapped filming, we were like, we need alone time. So we went to Turks and Caicos for 48 hours. That's all we needed.
A
Yeah, just 48 hours. Reset, refresh. Just knocking out. All right, so it's the one on one time.
B
One on one.
A
Okay. And then this is probably the most random one, but we have someone submitted. I need to know. I know it doesn't pertain to your podcast. What stroller does she recommend? Which does she have and what?
B
Huh. UPPAbaby Vista.
A
There you go. There's a little pitch. Maybe get a brand deal there.
B
Yeah, I love that stroller.
A
All right, we gotta wrap with your trading secret. So it's one thing that our listeners could only learn from your experience. All your different endeavors, all the things you've done. They can't hear from a professor or a TikTok tutorial, which. Who knows if TikTok will even be around when this comes out. But what's. What's one trading secret? You could leave us with?
B
One trading secret that I learned over the many years that I've been in business is do your homework and ask for help. Do not think that you can run into a new business or a new venture without doing your homework and asking for help.
A
Was there ever a situation this happened?
B
Yeah, I mean, with the bags. I just went head first and didn't do any research, didn't ask for any help, really. Just thought I could start a business in fashion that I didn't work in ever.
A
Most of my listeners are women, and I think that is a common theme we hear about. About is the idea of asking for help.
B
Yeah.
A
Because one, they don't want to put the pressure on someone else. They don't want to inconvenience. And two, also, it's like, I can do it myself. So people that think that. How do you overcome that?
B
Well, that's how I was, you know, So I think, like, why not? I think that's what you have to ask yourself. Right? Like, why not ask for help? Why not bring in a partner? Okay, yes, you might fight, but whatever. Then you have half. Half, you know, the amount of responsibility. And if you're. Especially if you're a mom and you want to be a present mother, why not start a business with a friend or even it's not a friend, someone you're referred to. If it doesn't work out, it doesn't work out. But like, I think it's always helpful to even to give away, to have. What do I. What's the saying? Have a smaller piece of a bigger pie as opposed to having the whole pie that's worth nothing, right. Like, it's worth nothing. It. If it's a hu. If it turns into a huge buy.
A
It'S interesting because I. I always give my trading secret what I learned from that guest, and that's what I would give is my training secret to you. Like, before, you said smaller. Yeah. It's that you have. There's so many people that come on here that are so down their lane, and they're really good at it, and they're experts in it, and that's what they do, and no one can touch them, and that's their thing. They're going to be the king or queen. But you have a approach that's like, yeah, I got a little over here. I could sell a $50 million home. I could also decorate your house. I could also have you a handbag. And if you want to get drunk, I got you tequila. Like, you have your little chin now. You're developing land in the Hamptons, so. So many people are so focused on becoming a master and not a jack. And when you're a jack of many and you hit one home run, you don't need to be a master of anything anymore. Right. Like, you're in a good spot.
B
So I think, you know, the crazy thing about what I do, I think is that it all is one. Like, everything that I do kind of goes back to the home. Right. Like, I'm in interiors. I was selling real estate for many years. I sell a product that, you know, you can have cocktails at home and is really about the kitchen and that kind of lifestyle. I love to cook. Like, I have big family. I feel like everything is housewives.
A
Like, it's all housewives.
B
It's all home.
A
It is. So it's like, find that episode.
B
You know, at my core, I'm a mom, and I'm a nurturer. I'm a born July 1st. I'm a cancer at heart, you know, And I have a big family, and I love hosting and all these things.
A
Yeah.
B
And I think, like, at the core, that's who I am. And I've built. I was able to build. So maybe that's my secret.
A
Yeah.
B
Find. Figure out what you love and who you are at your core and build off of that.
A
Like, almost like a spider. Like, have your epicenter. I don't know why I first thought of spiderweb. Like, have your epicenter, which is a home, and then build, like, the web off of it or the tree or whatever you want to say.
B
Right. You love. That's your epicenter. That's what you love, that's your heart. Right? And then if you build businesses off of it, you're going to enjoy all of it.
A
Yeah. And you'll. And the network will be connected. The contractors will be connected. Like, it'll all go to one spot. I like it. It's a funnel system. I love it. And I also think, why not? That's a good one, too. It's like, why not? Like, you need to ask for help. Why not? You need to ask for a bigger raise. Why not?
B
Why not?
A
Ask yourself, why not?
B
That's what you should live with.
C
Why not?
B
In grad school, that said everything is negotiable. He said, go to the deli. You can negotiate the sandwich.
A
I love it.
B
Like, everything. And that changed my perspective on negotiation.
A
Talking about vulnerability, actually. Why not? I have a bracelet on right now. It says, why not?
B
Shut up.
A
Yeah. Isn't that funny? Funny. And this is because my. One of my buddy's dads got diagnosed with stage four pancreatic cancer. And, like, the mindset of the family is, like, odds aren't in our favor, but, like, why not us? Why can't we be those small odds? We've been wearing it, so that's funny. Why not us? Right here? So why not? There you go. Small world out here. All right, Aaron, where can everyone find everything you have going on your Instagram? All your businesses, they want to buy your tequila.
C
Where can they get it all messy?
B
Mezcal.
A
Okay. Where can they find your Mezcal Tequila?
B
No, it's not tequila at all.
A
Wait, you don't even say Mezcal Tequila?
B
No. You just say Mezcala. It's a totally different. It's not. I thought it was a subcategory of. It's a misconception.
A
Interesting.
B
Yeah. Mezcal and Tequila are completely different things. They have different rules and restrictions. Like, tequila can have 51%. Only has to be 51% pure agave.
A
Okay.
B
49% could be additives. By Mexican law, Mezcal has to be 100% pure.
A
Guy did not know that.
B
Different thing I do know, because I.
A
Went to Jalisco, and I know that, like, a lot of those companies that we're buying from have a ton of additives, all of them. And the ones that don't are, like, very forward with very.
B
Yeah, very few. And it's also only made in Jalisco because it's. Well, mostly because it's all blue. Weber agave.
A
Yes.
B
Mezcal has 70 different types of agaves. That's why you have different flavors.
A
Oh yeah, you learn new things every day. Where can people find your Mezcal?
B
Well you can find our mezcal on mezcaloom.com or you can order from FreshDirect correct? Or you know, hopefully your local liquor store has it. If not, tell them get on it and then follow me on Instagram.
A
Aaron Dana Lichi Aaron Dana Licci this has been an unbelievable episode.
B
So fun.
A
Can't wait to watch you on Real Housewives. But thank you for sharing some of your business trading secrets along the way. Thanks for being here.
B
Thank you. Living that dream. Making that money. Making that money.
D
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B
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Come to papa. Welcome bonus.
B
Step 3 Play hundreds of casino style games for free.
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That's a lot of games all for free.
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A
Talking a little entrepreneurship here with Love is Blind. So let's talk about how you could start your own business.
C
If you are selling anything online, literally anything, you have to be using Shopify. Think about Shopify as the brand that all the large corporations could use. And now the small businesses can get the legitimacy behind the massive corporation. Whether you sell one unit or you sell one million units. So if growing into your business, your commerce platform better be ready to sell wherever your customers are scrolling or strolling on the web, in your store, on.
A
The feed, wherever it may be.
C
And let me tell you, Shopify is what we use and Shopify is what you should use so you can sign up for your $1 per month trial period. Just go to shopify.com secrets why not start today? Go sell something online. Go to shopify.com secrets to upgrade your selling today. Shopify.com secrets.
Podcast Summary: Trading Secrets Episode 218
Guest: Erin Lichy
Host: Jason Tartick, Audioboom Studios
Release Date: January 20, 2025
Erin Lichy’s episode on Trading Secrets offers a deep dive into the complexities of balancing multiple business ventures, the realities of reality TV, and the importance of financial transparency in relationships. Her candid sharing of both successes and failures provides invaluable insights for aspiring entrepreneurs seeking to navigate the financial and personal challenges of building and maintaining diverse business interests. Erin’s emphasis on leveraging expertise, fostering strong teams, and maintaining personal relationships underscores the multifaceted approach required to achieve sustained success.
Connect with Erin Lichy: