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This week on the Dough, we have a special guest: X’s business manager Belva Anakwenze! If you’re a longtime listener of the Dough, you know how much X loves Belva. She’s the perfect money mentor – her client list is a who’s who of Los Angeles celebrities, and she’s won awards from Variety, Hollywood Insider, Billboard, and more. Her and X have an awesome chat about their working relationship, X’s money skills, and why you should never let a basketball star start a rap career.

This series was created in partnership with Flourish Ventures, an early-stage global investment firm backing mission-driven entrepreneurs and industry influencers working toward a fair finance system for all. Learn more at flourishventures.com.

Stay up to date with us on Twitter, Facebook, and Instagram at @LemonadaMedia.

You can find Belva on Instagram at @belvaanakwenze, or check out her website at https://www.belvaanakwenze.com/.

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To follow along with a transcript, go to lemonadamedia.com/show/ shortly after the air date.

Transcript

SPEAKERS

Speaker 2, Sender 3, X Mayo, Speaker 5, Speaker 1, Speaker 4, Belva Anakwenze

Speaker 1  00:56

Who in your life do you take financial advice from?

 

Speaker 2  01:35

I take financial advice from my mom and one of my really close friends. Her name is Shaderra.  With my Mom, I just seen her, like, literally pay all her bills on time.

 

Sender 3  01:47

And I have a cousin who’s pretty he’s pretty well off. He’s done pretty good for himself. So I usually will consult him, because he knows you know how to save, how to invest. I trust his judgment.

 

Speaker 4  01:59

My mom.

 

Speaker 5  02:01

Why?

 

Speaker 4  02:02

Because I’ve seen her really. She is my financial advisor. She’s a financial advisor in my home, and like she lead by example, I’ve seen her really manage.

 

X Mayo  02:16

Hey, y’all, welcome back to The Dough, a show about making money moves. I’m X Mayo, and I’m gonna be your business manager for the week. That means I tell you to save. You say, how much that means I tell you to invest. You say, yes, ma’am. That means you tell me you’re gonna put your whole life savings into Bitcoin. And I say, absolutely the fuck not put that shit down right now. Candice, don’t you even think about it? No, I don’t care what your cousin Niko said. He’s lying. You think he’d be driving that broken ass camera if he had 20 Bitcoins? He can’t even use Facebook. No, I’m joking y’all, I’m joking. It’s just a little jokey joke, except about the Bitcoin, because it’s a highly volatile asset, and you could lose it all in an instant. But I am joking about being a business manager. Y’all, I have had a hard enough time not spending all my money on fast fashion and ludicrous mocktails. Okay, but we have a special treat for you today, a real business manager. In fact, it’s my real business manager. Everybody give it up for the impress of the expense reports, the temptress of tax returns, ladies and gentlemen, one of the smartest women I have ever met, the one the only Belva Anakwenze. Belva runs a phenomenal company out of LA called Abacus Financial Management. They help people like me, creative entrepreneurs and artists make smart financial decisions so we don’t go brizzo. Belva has been recognized as one of the top business managers in the game for years now. She’s gotten awards from, I don’t know, Billboard variety, Hollywood Reporter, The Los Angeles fucking time, okay, you name it. They believe in the vision, okay? And they should. Working with Belva has been an absolute dream, and today she’s hit a chat about managing celebrities, helping me control my spending habits which they are out of control, and the literal price of fame. Okay, say hi, Belva.

 

Belva Anakwenze  04:27

Hi.

 

X Mayo  04:28

Okay, so before we get started, we have a special surprise for you. My producers pulled together a little reel of me talking about you on this podcast, and I talk about you all the time, or anything, or every episode. But okay, so let’s give it a spin. Rachel, roll the tape.

 

Belva Anakwenze  04:45

My heart is warm already though how awesome.

 

X Mayo  04:53

I am, so bad with money, it like pains me to say how bad I am. So I implemented the best business manager in the world, Belva, who I love, and so she has been amazing and wonderful. I’m overthinking all the possibilities at goats Rs. We talking goat wigs, goat rugs, goat sour cream, goat yoga. Okay, I’m gonna talk to my business manager tomorrow about it. Belva, get on the line. We’ve even got those debit cards that you could tap instead of swipe, which is really dangerous for me, you just, just ask Belva, my business manager, it’s just why I got to tap. It’s so quick. And then I’ll be using Apple Pay like Apple paying for it. They not. So we know from your Instagram that you track every single purchase you make. God Taylor, you’re truly my president. I wish I’m so scared to do that. Oh, my God, Belva does, though, Belva is like, okay, really again, you just had fish sticks. I’m like, but I love them.

 

Belva Anakwenze  05:53

Oh, I mean, I don’t even know what to say to that.

 

X Mayo  05:57

Oh, my God.

 

Belva Anakwenze  05:59

Heart is so warm. And, you know, I love you 2x like, it […]

 

X Mayo  06:03

It was all AI.

 

Belva Anakwenze  06:05

It’s all an honor.

 

X Mayo  06:08

Yes, okay, so what do you think Belva, that’s my little love letter to you amidst all the other times that I like cry to you and talk to you in crisis. Do you think I like summed up our relationship? I think, I don’t think we could sum it up in those small clips, but I think you people got a little taste.

 

Belva Anakwenze  06:26

Yeah, it’s tears, it’s laughter, a lot of laughter, because it’s you, but also accountability, like money doesn’t have to be scary. It is, but it doesn’t have to be, and it doesn’t have to be. And you know this, I never want you to. I never want to lead with shame, because we are all navigating this thing called life together, and it is hard, and money is part of it. And so I hope that you feel that. But it’s so funny, I have clients, other clients, that are like, I’m gonna get a tattoo that says, Stay frugal, my friend. I’m like, Okay, how many times have I said that to you?

 

X Mayo  07:01

729,000 times.

 

Belva Anakwenze  07:04

Stay frugal, my friends. So I’m gonna start having all my clients get tattoos now.

 

X Mayo  07:08

Yes, absolutely, a reminder. Listen, I think not all cults are bad. Not all cults are bad. So Belva, we usually start this show off with a little question, what the hell did you spend your money on this week? Like, what’s like, the craziest purchase you had? Like, did you hit a spa? Maybe went out for a nice dinner, spent money on the baby?

 

Belva Anakwenze  07:29

Uh, okay, so to answer the question quickly is, I think, you know, I bought a new house in June, and I’m renovating and decorating. So I bought outdoor furniture, so I have an outdoor dining set, outdoor couches, etc. So that was pretty lofty. And then obviously the dogs, the kids shoes, you know, all that momming stuff. But yeah, I think the biggest and most, like grand thing, was outdoor furniture.

 

X Mayo  07:53

I think that’s when you know, you a bad bitch, because you need furniture for outside. We’re just trying to have furniture inside. Belva said, no outside. Outside furniture. You know, everything that you put inside. We got to do that outside.

 

Belva Anakwenze  08:09

Look, living in LA is expensive, and if I spend all this money to live in LA, I’m going to enjoy it.

 

X Mayo  08:14

Oh, my God. Belva, no, I’m absolutely here for that. We get one life, so we going to live it, amen. Okay, so for our listeners who don’t have the privilege of working with you on a day to day basis, what exactly is a business manager? Because remember, I was very anti remember, I was so scared, I had so much trauma. I had every I was like, Steve Harvey’s business manager stole money, and then people like, don’t get no business manager, because they’re gonna be in your money and you’ll wake up. You you’ll wake up you have no money. And I was like, and I’m a black woman, so hello, I have trauma and fibroids. I was like, I was like, Uh, okay, I was so scared. But then and then to sign a contract with you. And now I’m just like, oh, I need Belva to sign a contract with me.

 

Belva Anakwenze  09:00

Are we five years in now, at this point, or something like that, we’re

 

X Mayo  09:04

five years in? Yes. So what exactly is a business manager for the

 

Belva Anakwenze  09:09

people? So a business manager handles the day to day and long term financial operations for high net worth individuals, people in the entertainment industry or people who are often traveling, right? So actors, writers, producers, are often on set location. Musicians, office, traveling world. They don’t have a lot of time energy, and probably not the skill set to manage their day to day financials, right? Whether it’s Bill Payment tracking your commissions, who owes you money? Who do you owe money to? And most creatives have businesses as well. So there’s also these operational things that go into those businesses. You have to file taxes, there’s payroll, there’s bookkeeping, there’s compliance, things that need to happen in your state or your city, and we handle that on a day to day basis for our clients. Then it’s also like budgeting, forecasting. It’s holding my clients accountable X. Hey, we have a budget. This is what we agreed to, but baby, this is not what you’re doing. Let’s talk about it. Let’s figure it out. It’s also tax planning, tax projections. Hey, I want to buy a boat. Oh, okay, let’s figure out how to buy a boat, Erdo, we’re not buying a boat until 2027 so what should we be doing to prepare for that, right? I liken it to a financial quarterback. So I’m helping call the plays. I’m helping deal with your insurance provider, with your real estate agent, with your investment person. I’m helping navigate all those things, but it’s still up to you to do what you’re supposed to do, right? So I’m the quarterback, but everyone on the team has to play their position, yeah, and I think that’s very important.

 

X Mayo  10:43

I don’t think people understand the emotional support, and maybe that’s not every business manager, because when I talk to other people have business managers, they’re not, and I think that’s because you are a black woman, but specifically, I know you’re a lot of clients. You are they that you have our black that’s not exclusively who you work with, but I always was curious, like, what your clientele was like, and can anyone get a business manager? Like, do you have, like, specific qualifications? Belva, I’ve always wondered about that.

 

Belva Anakwenze  11:11

Yeah, so our typical clients are actors, writers, producers, people in the film and TV space, right? They could be a costume designer, but typically in the film and TV space, but there are other business managers that focus on musicians, because obviously, Beyonce has a business manager, right? She probably has a CEO, CFO.

 

X Mayo  11:29

Yes, it’s Blue Ivy. Blue Ivy manages the money.

 

Belva Anakwenze  11:32

Yes, so, but I primarily work in film and TV and across the board, producers, again, costume designers, etc. Our client base is predominantly people in the marginalized community, so people of color, women, people part of the LGBTQI plus community, combinations of those things. And it’s intentional, because exactly what you said money’s very emotional. And a lot of time we find that people that are in these marginalized positions have not had access to information, have have had significant financial trauma, and often don’t have the right circle of peers or friends to kind of use as a sounding board for financial advice. I also, because I am a person of color and I’m a woman, I understand the survivor’s remorse mentality and having to take care of your mother and your uncle and your cousin.

 

X Mayo  12:23

The black tax.

 

Belva Anakwenze  12:24

Yeah, the black tax, you know. So I’m because of that, and my degree is also in sociology, so I understand society and people and how they navigate.

 

X Mayo  12:34

Wow, now it makes so much sense Belva, I just thought you were just smart as and you are, but obviously you’ve studied. I mean, you’ve studied as well.

 

Belva Anakwenze  12:46

Yeah, so much of money takes a high EQ, right? IQ is one thing and intelligence is one thing, but the emotional quotient is just as important, especially for people in the marginalized communities, because there’s just so much trauma and lack of information and lack of access, and we always feel like we’re trying to catch up. And I understand it. I’m first generation high earner. I’m a first generation people went to college and I had no one to hold my hands the process. So it for me when I tell you it’s an honor to serve, I mean that with all of my heart it is an honor to serve, because I know that we’re helping create generational wealth so that we know that our clients kids can go to college and they, you know, their parents won’t die or leave this planet without leaving them something behind and leaving a legacy. And a legacy is not just money, but it’s also, you know, just access and information.

 

X Mayo  13:36

That’s right, y’all, Belva is building legacies out here. Okay, and that’s not just for me. Belva manages some serious heavy hitters. When we come back, we’ll get her to name some names okay, see you in a few.

 

X Mayo  14:52

So who are some of your other clients above their NDAs?

 

Belva Anakwenze  16:24

Really?

 

X Mayo  16:25

You know.

 

Belva Anakwenze  16:39

Really?

 

X Mayo  16:40

Listen, you know, I’ll just, you know, just for the people, Belva is top dog. She’d be managing top dog dollars.

 

Belva Anakwenze  16:51

I will. There are some things that are public that I can say. So Jay Ellis, who was on insecure Top Gun, he is a client and really good friend. One of he’s become a brother to me. The CO hosts of Entertainment Tonight, Michelle Turner and Kevin Frazier are my clients, and I think those are the only ones that are actually public. But we have tons of writers. Names you may not even know because they’re behind the scenes. You know what I mean as well. But yeah, that’s all I can say.

 

X Mayo  17:19

Yes, okay, because we respect the NDA, so okay, Belva, so what’s like your superhero origin story? Because I would love to know, like, how did you get a, like, bizarrely specific job, like, giving me money advice.

 

Belva Anakwenze  17:35

By happenstance, like I did not seek the entertainment industry by any means. It is definitely the hand of God saving me for myself. I mean, quick origin story is, I’m from South Central LA, born and raised. It’s now called South LA, but when I was raised here, it was South Central LA, and my parents, my mother was my parents were not educated, but they were very big on education, and saw education as a way out of our surroundings, right? So my parents did not let me go to the local school. They forced me to go to a small high school, and it was a business focused High School, so it kind of just kind of fell in my lap. So my first job at 14-15, I was doing bookkeeping for a trucking company. All my friends were working at McDonald’s, no shade. We all gotta, you know, make a living. But they were like, you know, working at McDonald’s, doing fries, and I was doing bookkeeping. So I was like, Oh my gosh, I’m making, like, double what my friends are making, huh? This is awesome, so I kind of kept doing that through went to UCLA, kind of kept doing a lot of bookkeeping and stuff to get through UCLA. And I actually love, I love money. I love numbers. It’s always been a skill set. I would kick my sisters behind in Monopoly, and she’s five years older than me, and I was five, and she was 10, and I’d be whooping her behind. So it’s kind of always just been a gift. I graduate, I go work for a very big company out of college, and I physically am getting ill, like I am miserable, so I quickly figure it out. I started doing small business accounting and bookkeeping for friends and my sister’s friends, because, again, she’s five years older than me, and they had a lot of her friends had small businesses. I started doing that, and then after a couple years, I was like, oh my god, I have a business. I still didn’t love it, though. X, I was like, man, I I meant to really help people when I was working for all these businesses, and I just, I didn’t, it wasn’t as bad as working for the big company, but I wasn’t seeing the impact that I wanted to see.

 

X Mayo  19:30

Yeah, because you’re so purpose driven.

 

Belva Anakwenze  19:33

I for 100% and literally, a client fell in my lap. I ran into somebody I went to school with who was a wealth advisor, and he said, you still do accounting and bookkeeping? And I said, Yeah, we were at a party. He said, okay. And the following week, he says, hey, meet me in my office. I have a client for you. I said, okay, cool. I go to his office. I look up and it’s like, this six, eight guy at the time I follow sports, and I was like, Oh, you play for the Lakers. Okay, and so I was like, sure, I’ll do your accounting and booking.

 

X Mayo  20:05

Did he play Belva? You know, they all be on the team. Everybody don’t play.

 

Belva Anakwenze  20:10

He played.

 

X Mayo  20:10

Great, okay.

 

Belva Anakwenze  20:11

And I was like, sure. Had no clue what I was walking into. I thought I was doing bookkeeping. And he had come from a small business management firm. I didn’t even know business management was a thing, so I didn’t know what it was. I was like, I’m doing accounting and bookkeeping. I started getting his files, and these are like, big old banker boxes full of documents. And I’m like, Why is his life insurance in here? Why is the such and such in here? I’m doing bookkeeping. Why do I need this stuff? And I started going through everything, and was like, Oh my gosh, well, why don’t you have enough life insurance if you don’t have this much in savings? And how much do you have in savings? Well, if you’re making this much money per year, you should have more money in savings. What’s happening here? So I just kind of fell into what I thought was going to be a bookkeeping for a Los Angeles Laker, or ended up being like learning business management on my own. So I started doing a lot of athletes, and then I got my first entertainment client, who was a sportscaster. So it was a combination of sports and entertainment.

 

X Mayo  21:11

Wow, yeah.

 

Belva Anakwenze  21:12

So that’s kind of how I fell into it. And I didn’t know what sag was. I had heard of sag, but I didn’t know how to track residuals. I didn’t know any of these different things. And here we are 20 years later.

 

X Mayo  21:22

Wow, oh, my God, Belva, I play you in your life story.

 

Belva Anakwenze  21:28

Please do.

 

X Mayo  21:31

And how closely do you work with your clients? Belva, I know me and you. You’re like other mama. So like me and you, I will call you. I We can talk whenever. We’ll talk about live you’ll come with me to an event. Like, we’re so close, but I’m curious to know, like, is that case by case with your clients? Because it’s like, I know with us, it’s like, big, like, remember when, uh, Renaissance, I knew how much money was gonna come out of that account, and I call and Belva said, you’re my third call today about this damn Renaissance. I said, Belva, I have to see her three times, I have to go and.

 

22:05

I have to slide I need outfits, and I need hair and makeup, and I need and I need.

 

X Mayo  22:09

Yes, and Belva said, I am aware, okay. I said, Because you about to see it, okay, I’m gonna call you. So are all of us like that? Belva, is it case by case.

 

22:21

I will tell you it is case by case, but I love the intimacy that we have, because so much of money matters is emotional, and so much of it is not in a spreadsheet, and what I learn about you as a person, because we are intimate, helps me help you with your money.

 

X Mayo  22:43

Yeah, you gotta know my why? You gotta know the trauma behind it, the intention behind it, all of that. You know. You know it’s Christmas season, and you know I’m Santa, so Belva , come around October. Belva like, hey, I know what you’re gonna do.

 

22:59

What’s our budget? What’s our budget? Should we start putting some money aside?  Yeah, so I thrive, and I feel like I do my best when there is a lot of intimacy with my clients, right? I have clients that know where I live. I have clients that have kids. They know my kids. We go break bread, we go to travel together. To your point, I’ll go do a trip with you. There’s something magical that happens in those non business events or places that really helps. The other thing is, like, I know everything about you, X, Social Security, mother’s maiden name, and then I also know how you spend your money. I know you told me your value system is this, but your money is going to that. So help me understand, I know if you have a bad habit, I know if you’re at the strip club every Friday night, I know.

 

X Mayo  23:49

Belva, you wasn’t supposed to say that hard. Listen, you guys. That was one season in Atlanta.

 

Belva Anakwenze  23:55

I said, if.

 

X Mayo  23:59

Listen, the lemon pepper wings go off.

 

24:02

That’s what I’ve heard doing air quotes. That’s what I you know what I mean. So I know so much about you based on how you spend your money, where you spend your money, that it’s just very intimate. And so for me, it feels unfair for you not to have insight in my life, because I know so much about you, I want you to know that I have two kids. I want you to know that I’m divorced. I want you to know that I bought a house. Like, because I feel like I have a lot to lose. That’s the other piece. Like, right? I when I tell you I have good sleep at night. I love my kids. I love my home. I’m a dog mom. I love all these things. I’m not going down for the million dollars sitting in somebody’s bank account. I’m not going down for the ten million sitting in someone’s bank account, not me. That could be for everybody else, but not me. So I need my clients to be invested in me the way that I’m invested in them, so that the relationship is sticky and it stays. It’s meant to be a long term relationship. My first entertainment client from 20 years ago is still my client. And so this is not a move. This is not a it’s not like tax like you hire some do your taxes and you can never see them again.

 

X Mayo  25:09

No.

 

Belva Anakwenze  25:10

Yeah.

 

X Mayo  25:11

So what? What is the biggest area of growth, Belva. Now we’re gonna talk about me. You’ve seen and my money moves since we started working together.

 

Belva Anakwenze  25:22

Can I tell a story and be very candid?

 

X Mayo  25:24

No.

 

Belva Anakwenze  25:25

Well, then what are we doing?

 

X Mayo  25:28

I’m so scared. I don’t want this.

 

25:30

These people gonna tell it. I’m gonna tell it, okay.

 

X Mayo  25:34

You cannot tell it.

 

Belva Anakwenze  25:36

You this podcast. I’m telling the story. Simmer down. Simmer down. You were taking a trip to Europe.

 

X Mayo  25:46

Yes.

 

Belva Anakwenze  25:47

And you were like, Belva, I need to do this, this, and that. I need you to help me figure it out. And I said, Okay, what do you want to do? And you said, I want to bring my friend. I want to do this. I want to go here. And I said, you know what, X, I want you to make your own budget. And you were kind of a gasp, like, what do I pay you for? Why am I making my own budget?

 

X Mayo  26:08

I was gagged. I was like, Belva I don’t want to do I was a helpless, blonde, white woman with blue eyes. I was like, Ah, why?

 

Belva Anakwenze  26:17

But I paid you. You should be doing this, right?

 

X Mayo  26:20

Yes.

 

Belva Anakwenze  26:20

But there was something very magical about that process that you did as much as as much as you hated me forward and thought I should have done it for you. I think there was something magical about you actually having to create your own budget and realizing.

 

X Mayo  26:37

Especially because I was going to be in the UK, where it’s more.

 

Belva Anakwenze  26:41

Yes.

 

X Mayo  26:42

But that was that eye opener for me, because I was like, whoa. Like, when I put the money together, and then I even did the configuration, because I took me and my two besties, and we were celebrating one of them her soberversary, which I’m so proud of, and so I was like, Oh, okay. So then, because I saw that amount of money, I was like, okay, so I need to hit up these homies, and we got to go to these couple events for free. And then this homegirl, she’s a manager at this restaurant, so she comped the whole meal, you know, like, I was like, okay, so now because baby, you can put me in the middle of the jungle and I’m gonna organize, like I I can rally the people, right? So I was just like, okay, cool. So now we know this. Oh, so we can go to a stand up comedy show. We can spread out all the little different stuff. So it was no it was a greater and we had the best trip ever.

 

Belva Anakwenze  27:32

And you stayed in your budget.

 

X Mayo  27:34

I stayed in my damn budget on a trip to Europe, olease clap. Thank you. Okay, thank you, you see me. Okay, break time. When we get back, Belva is going to tell us about some of her clients, wildest purchases.

 

X Mayo  28:58

So okay, I have a juicy question for you, Belva, what’s the most ridiculous thing a client has ever told you they’re buying and what’s the most ridiculous thing you’ve come it’s a client not to buy.

 

30:03

Um, so one client, one at a basketball player funding his musical career.

 

X Mayo  30:09

Okay, well, that’s the end of the pod. Yeah, wow, they love to rap, oh, it was Shaq.

 

Belva Anakwenze  30:19

It was not, but I know him, so please don’t he’s gonna call me. I’m like, No, it wasn’t him. Um, so what is I had a client funding his musical career, and I was like, oh my God, this guy’s gonna be couch surfing in a matter of five years. It’s gonna be awful um.

 

X Mayo  30:34

Because he, I’m sure he also wanted to be like, I need to pay for Pharrell. I want one. And Pharrell is like, well, 1.5 mill a beat, you know? I’m already doing all the strength, like also Belva, was he a good rapper?

 

30:50

I have no comments, okay, next part, I have nothing who wanted, who wanted to get a jet, and I, I shut that down. And I have a client that wants to buy a boat. And I said, yes, but I said, we have to wait until x, y and z happened.

 

X Mayo  31:05

Because a boat is not a yacht. A boat is still very expensive, the upkeep on them. I know why people live in them, yeah, why people live in them?

 

Belva Anakwenze  31:12

I think there’s like, a definition of a yacht, like so many feet long. I don’t know. I don’t remember what it is, but I was like, it was just adjacent to a yacht. And I was like, it’s actually part you could afford this. It’s easy breezy, but you told me you want to retire. You told me these other things so that I had to make sure we do these other things first. So once you sell something else, or something else goes, then we come back and revisit it. So I think he’ll be buying, okay, his junior yacht in a couple of years.

 

X Mayo  31:36

Okay, nice. And then the other person, oh, you mentioned a jet.

 

Belva Anakwenze  31:39

Yes, jet, no, we’re not doing that. Get out of here, you can fly commercial. You can fly commercial, get out of here.

 

X Mayo  31:47

Belva.

 

Belva Anakwenze  31:48

You can fly commercial. But here’s the other thing, when you fly commercial, there are so many tools that help you get on the plane first. Like you could skip TSA altogether. I know we all have pre check and Global Entry, but when you have real paper, you can drive a BMW straight to the plane, right? And so let’s spend our money that way. Let’s not do the jet quite yet.

 

X Mayo  32:12

Yeah, no with the blackening, they did that to us. I said, Oh my God, I feel like I’m the president. Yeah, I’m just like, y’all got, don’t do this to me. Trigger me regular. Let me just walk to first class with my damn self, because now I’m like, Belva, how much that cost. I like that. You know, I love ease. You know, I love me some ease. Okay, so Belva, Billboard named you, you know, just, you know, one of Hollywood’s top business managers in 2023, nothing, I mean, nothing crazy.

 

Belva Anakwenze  32:38

Not just billboard, but it’s not just billboard.

 

X Mayo  32:40

It’s for okay, it was billboard. It was variety. It was Hollywood Porter, when they named you and when they named you as one of the top business managers, I was like, no shit. So, but what do you think Belva separates a good business manager from an excellent business manager?

 

Belva Anakwenze  33:00

Aha, great question. So one is, I’m a firm believer that business managers should not be doing investments. Um, I believe that your investment should be held separately. I believe that there should be checks and balances in your in your business, right? So I don’t think everything should be in one house, because who’s checking who’s checking them? That’s the first piece. And I think there’s something really special and unique about me in that I am a mother figure, right? And I’m very loving and nurturing. And I look for clients who need that. I look for clients that need the gentle love, the reminders and the empathy, because again, it’s we’re all learning, we’re all navigating. And I never want to be the person who’s reprimanding you. I want to be the person who’s helping you grow and navigate. So I think that’s very important. I mean, and as a whole, X, let’s just be very candid. Accountants aren’t typically known to be the most socially adept people on the planet. That’s honestly, I think one of the bigger challenges is, like the a lot of accountants have the skill set in terms of, like, managing money, moving money, tax planning. But there’s that goes back to the EQ, I was talking about, the emotional quotient, where I think that’s where a lot of business managers miss, is that they may be good, very good, technically, but then they’re missing the social skills, interpersonal skills, to really serve their clients and do their clients justice. And I can’t speak for every client, like I don’t have a Tom Cruise as a client, but all of my clients, I see them as humans first, and I think that’s the different part.

 

X Mayo  34:40

I would love to know this. Belva, I’ve always wondered, what is the hardest part of your job, and what is the best part of your job?

 

Belva Anakwenze  34:47

I think the hardest part, honestly, is because I am so emotional and my EQ is so high that I want you to do well, and I can’t have clients who I want them to do more than they want to do for themselves.

 

X Mayo  35:02

Oh, whoo. Belva, that now, that’s a word now that’s just for life. That’s just for life. I can’t want more for you, nigga than you want for yourself, I can’t.

 

Belva Anakwenze  35:13

These ballplayers going to the club and making it rain and spinning 20k and doing all this again years ago, and you’re going to the strip club, and I know that Kobe’s in the house, but you you want you’re on the bench and Kobe’s in the house. Why are you buying the bar? Help me understand Kobe’s making all this money. He’s got brand deals, he’s got shoes, and you’re on the bench, you’re making standard contract, but you’re buying the bar. This makes no sense. And so for me, it’s hard to watch people squander away money, and there’s clients who just don’t get it and who just don’t care as much as I care, and that’s where it’s hard.

 

X Mayo  35:49

And what’s the best part of your job?

 

Belva Anakwenze  35:52

That I love my clients like I love, like I love I, there’s not one client that I have where the phone rings and I go, Oh my God, I don’t want to talk to this person. So I love what I do. I love my clients, and I love the impact, because I know that we have set you up for success. Now, in the last five years, we didn’t predict a pandemic, we didn’t predict two strikes, and thankfully, we set you up and you still were okay and to survive through all that stuff, right, but for me, I know that we’re setting our clients up to be financially sound and stable.

 

X Mayo  36:32

Belva, thank you so much for joining me today. I cannot believe we’re at the end.

 

36:36

I had so much fun. I feel like such a good time. It doesn’t even feel like a podcast, it feels like.

 

X Mayo  36:43

I know I feel like I was on the phone with you. This is usually how long we talk to you guys.

 

36:49

There’s probably more jokes normally, though, let’s be honest, there’s probably more laughing.

 

X Mayo  36:52

Yeah, it is I concealed myself. I concealed myself because our producers are like, hey, X, too many fucks.

 

Belva Anakwenze  37:00

Here’s one for the road.

 

Belva Anakwenze  37:01

We have to get added. Yes, so where can people find you on the internet? On the apps? You know girl, yeah.

 

Belva Anakwenze  37:10

So my name is a Doozy, um, but probably the best way to find me is by my name, Belva Anakwenze, IG, LinkedIn, etc, B, E, L, V, A. Anakwenze is A, N, A, K, W, E, N, Z, E.

 

X Mayo  37:25

Oh, my God, thank you so much, Belva, I love you so much.

 

Belva Anakwenze  37:28

I love you too.

 

X Mayo  37:29

I can’t believe that I have you in my life. And I always say to black women, manage my money, my lawyer, my business manager. And that is the key.

 

Belva Anakwenze  37:38

And it is an honor.

 

X Mayo  37:40

It is an honor.

 

Belva Anakwenze  37:41

I love it.

 

X Mayo  37:42

II love you so much, Belvaelva, have a good rest of your day.

 

Belva Anakwenze  37:44

You too.

 

X Mayo  37:44

Bye.

 

Belva Anakwenze  37:45

Bye.

 

X Mayo  37:48

Well, that’s it for today folks, thanks for listening in on me and Belva’s weekly catch up. Y’all now know way too much about my personal finances. Okay, we basically besties now, and I know too much about her other clients, child, next time I talk to Belva, I’m gonna say I want a boat just to fuck with her, just a little bit, keep her on her toes. You know, don’t worry, y’all, I’m not buying a boat, okay, or jet, well, maybe a helicopter, just to get me the fuck out of this. LA traffic, okay. Listen, all jokes aside, I’m so grateful to have Belva in my life. She’s truly a rock and has so much wisdom to offer. I know not everybody needs or can afford a business manager, but I hope you have somebody in your life that’s just like that, somebody you can call to talk you off the ledge and tell you you don’t need no $5 wheatgrass shot in that $20 smoothie, somebody who has your best interest at heart always picks up the phone and helps you make the hard decisions that are gonna make your life better later on, call your best homie right now, no, not that one you know, they’re not good with money. The other one, the one who has their shit together, call them right now and say, my Love, I need you to be my business manager. And when they say, fam, what the hell is a business manager, send them this episode and tell them to rate and review, honey, if they love you, they’ll support the vision, and if they don’t, there’s always us here at The Dough cheering you on.See you next week.

 

CREDITS  39:22

There’s more of The Dough with Lemonada Premium subscribers get exclusive access to bonus content, like the advice that Belva gives to young celebrities about starting a company. Subscribe now in Apple podcast. The Dough is a Lemonada original. I’m your host X Mayo. This series was created in partnership with Flourish Ventures. This series is presented by the Margaret Casey Foundation. Our producers are Claire Jones, Rachel Pilgrim and Tony Williams. Kristen Lepore is our senior producer. Mix and Sound Design by Bobby Woody. Original Music by Pat Mesiti-Miller. Jackie Danziger is our Vice President of narrative content. Executive Producers include me X Mayo, Stephanie Wittels Wachs and Jessica Cordova Kramer. Help others find our show by leaving us a rating and writing a review. You can follow me on IG  @80dollarsandasuitcase and Lemonada @lemonadamedia across all social platforms, follow The Dough wherever you get your podcast or listen ad free on Amazon music with your Prime membership, thanks so much for listening. See you next week, bye.