Biggest MISCONCEPTIONS of Having a Business (What NO ONE is telling you)…

Biggest MISCONCEPTIONS of Having a Business (What NO ONE is telling you)…


What is up everyone? Welcome back to my channel today I wanted
to do something a little bit different. I wanted to actually talk about some of the
major misconceptions when it comes to having a successful business. Now, this was inspired by my own growth right
now in my journey and I realized as I’m reflecting a year ago, I have set some crazy goals for
myself and I actually exceeded a lot of those goals. Now fast forward a year later, I have a six
figure business over 100,000 people that subscribe to my YouTube channel and so much more, but
as I got this success, I’m really starting to realize that there were a lot of things
that I thought would happen to me once I hit this point that actually didn’t really happen
at all. So if you’re interested in learning some of
the major misconceptions or things that I learned that I didn’t expect to learn of actually
hitting success, that I want you to keep on watching. Now, I know that many of you watching this
channel are probably starting out in your business, so you’re going to be thrilled to
hear this misconception that I’m going to lay out to you and that is imposter syndrome
never really goes away and the reason why I think that you’re going to be thrilled in
hearing this is because even someone like me a year later with all of this success that
a lot of you guys strive to have, I also feel a lot of imposter syndrome and even me talking
to people that are way more successful than me, they also have imposter syndrome as well. Now, obviously the downside is that it never
goes away, but the upside is is that you’re not alone. I remember a year ago when I was starting
out, I told myself, okay, once I have clients, then this imposter syndrome is going to go
away. And then I got the clients and then I said,
okay, once I make this amount of money or I launched this and a lot of people are raving
about me, then the imposter syndrome will go away. Okay, once I hit 100,000 subscribers on YouTube,
then the imposter syndrome is going to go away. It never went away, but for me, as I grow,
I’ve gotten better in dealing with it. So I think that’s the major difference. As you grow in your journey, the impostor
syndrome is always going to be there. And the reason for this is because at every
level of success, you’re always going to compare yourself with someone that is more successful
than you and that is doing better than you and then you’re going to feel like shit. For me, I used to compare myself to people
that were a couple of steps ahead that were already closing clients and I was like, Oh
my gosh, I’m never going to be like that. And then after, once I closed clients, I started
to compare myself with people that had six figure businesses and now that I have a six
figure business, I’m now comparing myself to people who have seven figure businesses
and guess what? It’s never going to go away. That’s why I want you to know that you are
going to get better in dealing with it, but don’t think for a second that suddenly all
of this lack of confidence is going to disappear. It doesn’t, not only this. I also want to share with you guys something
that I teach my own students in the boss’ gram Academy and that is this graph. Now, obviously I’m not going to take credit
for this graph because I didn’t create it, but I think it’s a genius graph to show you
guys exactly what is going on. As you can see on the graph, when you have
no experience, your confidence levels are at its highest and the reason for this is
because you don’t know what you don’t know and therefore you have big goals, big vision. Think you’re going to crush it. Now, unfortunately, the more experience that
you get, you start to realize a lot of the skills that you might be lacking. A lot of the things that you know you don’t
know yet, and therefore you feel like an imposter. Now, this is a really great illustration of
what truly happens as you start to grow in your journey. The imposter syndrome simply does get worse. However, like I said earlier, how do you deal
with the imposter syndrome? We’ll get a little bit better because you’re
going to start hanging around people that are more supportive for you and all of that,
and therefore through experience, you’re also going to have a much stronger and richer mindset
to tackle these issues when you start feeling the imposter syndrome rising. However, I did want to at least tell you is
that even me, I suffer from imposter syndrome a lot and I go to my mentors crying my face
off being like, Oh my God, random people on the internet don’t like me. Oh my goodness, this person didn’t want to
sign up for my program. Oh my goodness, this person complained that
my video wasn’t good enough, so I hope this makes it feel better, but like I said, impostor
syndrome never goes away, but you just get better at dealing with it. Now the second thing that I learned that I
didn’t really expect to learn was the fact that monetary goals don’t mean anything. Now, I know, I know. I know. You’re probably rolling your eyes and you’re
probably tempted to click out of this video. Trust me. Back then when I wasn’t making a dime, I would
roll my eyes at any person that said this because I was like, Oh my God, only rich people
say this. But I’m really being brutally honest with
you that it could not be any more true. And the reason for this is I remember when
I was starting my business, when I wasn’t making anything. The biggest and most ambitious goal that I
set for myself was to make $65,000 in my first year in order to replace my corporate income. However, within the first four months of me
launching my services to the public, I ended up making six figures. Now, obviously, the first day that I made
six figures, I cried. I was overwhelmed. I couldn’t believe it. But immediately, the day after I started putting
pressure on myself to then make seven figures, and guess what? The moment I hit seven figures, I’m probably
gonna put pressure on myself to make eight figures. Now, being ambitious in business and setting
monetary goals is absolutely normal. However, I’m telling you right now that the
chase never ends until you actually chill out and just enjoy the process. For example, I told myself, okay, once I have
one client, I’m good, I’m going to be happy with what I have. And then I hit that one client and immediately
I’m stressing out the fact that I don’t have a second client or the third client or the
fourth client. And then even though I was in a position where
I sold out all of my seats for my one on one coaching, I immediately told myself that I
was a failure because I booked it all out. And that I literally immediately capped out
my income. And it’s ridiculous. Absolutely ridiculous. And I’m telling you right now that even if
you don’t have a coaching business or you’re starting a YouTube channel, it’s the exact
same. Your biggest goal is going to be a thousand
subscribers. You’re going to tell yourself that it’s enough. And then once you hit a thousand, you’re going
to want to, and then you’re gonna want three, and then you’re gonna want 10 and the end
of the day, while you’re chasing these monetary goals, you’re still gonna feel pretty empty
inside. And not only this, you’re going to feel really
burnt out because you’re chasing nothing. You’re not chasing anything that actually
has substance. And that’s kind of what I really want to say
to you guys, because I wish someone said this to me when I was starting out, and I know
that at the time I probably wouldn’t have understood, but a guarantee for you guys,
once you actually start hitting those milestones that you’re wishing for right now, you’re
probably going look back in this video and agree with me that you’re really chasing nothing. If you’re just chasing money and numbers. That’s why even for me as I’m still in the
beginning stages of my journey compared to a lot of seasoned entrepreneurs that are already
10 years in, I’m really trying to take a step back and just enjoy the process of building
a business and even though I’ll always have monetary goals that I’m not going to attach
my self worth or my happiness to these goals and I need to try to find other areas that
make me happy. Is that the one on one conversations that
I’m having you guys that is truly meaningful to me is that the fact that I can take my
family out without stressing about my corporate job that I had back then because I was chained
to a cubicle? Maybe that’s a lot more meaningful to me,
but I know for a fact, even though I’m still pretty new in business, I already know that
money is not going to solve all of my life problems and until I find other reasons to
be happy with what I’ve built, that is going to be enough. So that’s why I really wanted to share this
big misconception with you so that you can save yourself a lot of running on treadmills
and being stuck on hamster wheels. Because I guarantee if you can’t find something
that is meaningful to you within your business that’s not attached to money or the number
of clients that you have or the subscribers that you have, then you’re always going to
be on this crazy goose chase. Now moving onto the next misconception that
I’ve learned so far and having a quote unquote successful business on paper is the fact that
you don’t really get so flex. And I know that this sounds super dumb, but
when I was starting out or when I wasn’t making a dime, I thought that the moment I hit a
six figure business or eight figure or seven figure or whatever money that you think is
significant for you, I thought that I would be rocking the Chanel bags. Where in the Luba tall is flexing the Rollie. And guess what? I don’t. And even though I technically could afford
these things, I choose not to buy into them. And the reason for this is going to sound
super silly, but I literally work from home. There’s nowhere else for me to go. And even if I did have a Chanel bag, where
am I going to go with that? A coffee shop like seriously. And I think that building this business and
actually hitting these numbers and working really hard to get here has truly shown me
the value of money. And it’s also made me a lot more mature when
it comes to spending. And what I mean by this is as you grow in
business and as you scale, you’re going to have a lot more responsibilities. It’s not just you, your laptop and the internet,
it’s you, your laptop, the internet and accountant, a lawyer, a team, people that actually rely
on you to pay them, people that actually turn to you for the answers and giving you their
hard earned money, hoping that you can solve their problems or at least guide them there. Because at the end of the day, people need
to help themselves. And that’s a lot of pressure. And you gotta be really, really careful with
the money that you spend. Would I rather spend the money on myself and
buy a new pair of shoes or would I rather spend money on taking a team member out for
a nice dinner or for a nice trip? Or would I rather spend that money on giving
my students gift cards, thanking them for finishing my programs? Or would I rather spend that money on giving
someone a bonus because they’ve really helped me out a lot in my business. There’s so many different things that you
gotta think about now that you actually have the money and now that you’ve actually grown
the business that’s beyond just yourself. And that’s kind of why it’s turned me off
from spending money on myself. Not to say that I don’t spend money on myself,
but I don’t spend it as excessively as I thought that I would once I hit six figures. And not only this, another misconception that
a lot of people think is that just because you have six figures means that you are rich. And I’m going to tell you right now, especially
if you’re serious and scaling your business, there are a lot of expenses. Even for me, there was one month where I spent
$25,000 in expenses alone. Now I’m not telling you to go into my comment
section and tell me how I need to spend my money, but I’m telling you right now, the
more money you make, the more money you spend. And maybe one day I’ll do a video all about
finances and all that once I have my own stuff sorted out. But I’m telling you right now that if you
think that having a six figure business is all of a sudden going to make you this flexing
queen or flexing King, I’m going to tell you that’s not really true. And if you are someone or you see someone
that is flexing a lot, I really would love to see their financials to see if they have
a profitable business. But anyways, I’m not here to judge. I’m just telling you my own perspective of
the things that I learned from growing this business and some major misconceptions that
really turned me on my nose when I finally hit this Mark. Now, so far in this video, I did a little
bit more of a real talk with you guys in terms of the major misconceptions that I found when
I was growing my business or as I’m growing my business. If you enjoy more videos like this or you’re
looking for videos that are a little bit more strategic and more step-by-step, like my usual
videos, make sure you check out these videos right here. Usually I talk about mindset, marketing, coaching,
entrepreneurship, all the likes of that. So make sure you check out these two videos
as well. And also I’m running out of content idea,
so make sure you comment below and tell me what more you want to learn about growing
a business, starting a YouTube channel, dominating on Instagram, getting clients, all these things. I would love to know your opinion on some
suggestions that you have for future content on this channel. As always, guys, I appreciate you. I hope you guys enjoyed today’s video. I hope you guys have a great day, a great
week, and also a great life, and I’ll see you in the next one. Bye guys.

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About the Author: Oren Garnes

100 Comments

  1. What's a misconception YOU can think of when it comes to running a business that you DIDN'T expect?
    ** DOWNLOAD THE FREE STEP-BY-STEP GUIDE TO TURN YOUR FOLLOWERS INTO CLIENTS **
    https://www.bossgramacademy.com/blueprint

  2. I completely agree with the more you make the more you spend. My husband and I are pre-marital &marriage mentors and whatever “extra” money we make, instead of spending it like we use to, we decided to invest. Smartest decision in business!

  3. Hey Vanessa,

    Loved your new video.

    Imposter syndrome is for real and people succumb to it easily.

    It is only with time that you will understand the triggers that lead you to feeling like impostor and convert it into pep talk and fire in your belly.

    Thanks for the video.

  4. You can do collab videos with people who make a living doing social media. There's people who do digital marketing for local businesses, social media for brands/influencers managing their account, and the client acquisition process. I think it will give more people insightful value within your pre-existing niche

  5. Hey Vanessa, what advice do you have for people starting a business as a team? Do you have any ideas for how to divide and conquer?

  6. Content suggestion:
    1. Do you plan doing retreats?
    I know this is not necessarily a content suggestion but maybe you can share your reasons to try or avoid doing retreats.

    2. Interview with your clients – not just success story but a real discussion over how they struggled and how they are doing today.

    3. Partnerships – who are your mentors? Who are you mentoring?

    4. Life mission – like you say, it has to be about more than money. What is your life mission and how are you living it through your business and in general?

  7. Your absolutely right, money will never matter; that's why I'm chasing the sunset. I only need enough to survive and with enough left over to help others along the way. The experiences you live will far out weigh any amount of money. Just my take on what it means to be rich in life…

  8. Love this 🙂 you are amazing vanessa. Its great to hear everything you have learned in your year of creating your business. It is definitely hard not to get attached to monetary gains esspecially when starting out. I cannot wait to follow and learn from you on the next leg of your journey.

  9. Hi Vanessa! Thank you soo much for this video. I love you so much, I can just watch you all day!

    My suggestion for a future video: Your advice for someone who has just started doing Youtube and they feel discouraged because they aren’t getting new subscribers or a lot of engagement. How they can get motivation to keep going and your advice how they can reach that 100 subscribers then 1000 subscribers. I’m sure you have done a video on this, but this would be more focused on beginners beginners. Thank you !

  10. Golden video as usual!! ✨❤️ thank you 🙏🏼 I would love to see a video about how you set your goals! 💪🏼

  11. how to persuade admins on fb groups that do not although promotions to post key study request surveys ect in order to gather the information from potential clients

  12. 1) The only problems having money solves, are the problems that come with not having money.
    2) If you do not know how to budget your income when you do not have money, having more money won't solve your money problems that are caused by not budgeting your income. The end result is that you will have the same problem, just with more income and more frustration with that same problem.

  13. Always turning your videos on when I'm driving in the car. Such a great way to learn while driving. Keep up the great content!!

  14. Yep that chase is such a trap! I keep setting these milestones for myself and saying I'll chill out a bit once I get there, but I never do — the pressure gets worse every time!

  15. Enlightening!!!

    Thanks for sharing your empowering wisdom, Vanessa! MORE videos like these, please!

    Keep Shining,
    Largy (The AcrõGecko)

  16. Another great video Vanessa! When you talked about monetary goals don't mean anything, it just reminded me of something similar I mentioned in my latest video. Thanks for sharing and being transparent as always!

  17. Like how you're documenting the journey with your videos. Maybe we could cover mindset pitfalls for entrepreneurs. I'm not sure if we've covered those -if so, no problem 😉

  18. Gracias Vanessa, estoy aprendiendo que para ganar tengo que invertir y a veces pierdo mucho dinero en campañas hasta encontrar una que sí dejé dinero. Nota: me encanta la velocidad a la que hablas.

  19. Thanks Vanessa for being so open! I'd like to see you do a future video on coaching. More specifically on how you guide your clients rather than tell them what to do

  20. How about a "favorites" video? An entrepreneur favorites that they would use in their business. Or how do you keep your business separate from your living space? Is there a separation or is it blended together?

  21. Hi Vanessa, once again such a huge inspiration, since you asked, maybe a video on how you got to build such a huge facebook group? How did you promote to get it to 10K+ I am sure a lot of us would love to learn. Now, not that I would need it because BOSSGRAM its freaking fire and it shows us how to build anticipation and how to grow organically, but your YT fam might want to know. Anyone else reading this, if you were thinking of BOSSGRAM academy DO IT!!!! is the best investment, I have signed up to so many courses and this is THE FREAKING most valuable one that I have experienced, the first module alone made me feel it was worth the investment.

  22. Instead of wondering when your next vacation is, maybe you should set up a life you don’t need to escape from." —Seth Godin"

  23. I would love to hear what you think about – figuring out what sort of product should we sell if we give information for free through YouTube.
    I know you give the basic answer on your youtube, and the more in depth answer on your courses- but for me, I’m wondering how I would sell something if I do sewing tutorials / give tips for sewing – and kind of need to show all the steps to get credibility.
    Any thoughts?

  24. Hi vanessa, im kind of new in your chanel but i would like to see a video on how to identify your client needs, it would be awesome for some entrepeneurs!

  25. Vanessa, I watch you in the morning to pump me up for work and for the day/week ahead. And your videos always remind me to think of my goals and how to achieve them; to take risks and dream bigger.

  26. Vanessa you gave such genuine advices despite your fast tracked success especially on chasing over numbers or monetary goals. Kudos to you. I have downloaded your blueprint. But I’m so sure if my own IG is something I want as an online business. I wanted to build a personal branding on skincare related posts but seriously I’m not too sure where this is going to land me with. I have been receiving free products for review. May I know at what point, shall I start asking for payment?

  27. When I was a ballroom dancer I thought " once I make national final, I'll feel accomplished"

    When I was learning Japanese: "once I pass second hardest test, I will feel accomplished"

    When I started growing my IG "Once I hit 10K followers, I'll feel accomplished"….

    Needless to say, even though I accomplished all of it, it always feel like I need to be doing more. Numerical goals don't matter.

  28. Another excellent video Vanessa!
    Getting Clients is great but my question is How Do you Retain Clients? Can you make a video on your strategy. Would love to know your take on cultivating/nurturing your customer/client base.

  29. Anyone who is into entrepreneurship can relate to this video, it is extremely helpful. Vanessa can you make a video on how you do Instagram stories and why you think it is important?

  30. It's like video games. As you level up, expenses go up, overhead goes up. Upgraded buildings have higher maintenance costs, etc. Spending intelligently leads to victory in the long run.

  31. Hi Vanessa! I'd love to hear you do an in-depth series on marketing funnels – share some specific examples and tips. Cheers!

  32. Wicked video as always, Vanessa! Slightly off-topic, what advice can you give in one sentence for someone struggling to nail down their niche? Thanks!

  33. I loved the video! I have an idea for a video you could make and it's about how to make a webinar, you could explain the steps to make a perfect webinar that will bring clients. 😊

  34. I can't quit my job yet but i want to make YouTube videos consistently. Can you help people like me do what they like while working 9-5?

  35. This video came right on time for me!!! I'll found so much valuable information here, I just had my aha moment! Thank You 🤗 💖 Thank you!!!

  36. I'd love a video on Instagram engagement, like what % is considered good, does it differ for different industries, statistics stuff. Also what is considered good % engagement for stories?

  37. Vanessa I’m so glad you mentioned not spending your money on lavish things when you are able to. That is such a positive message to put out there… especially these days. Great job & congratulations on your success! 👍

  38. Hi Vanessa,
    I love your channel! I have a dream about starting my own coaching business, but feel a bit overwhelmed by all of the aspects of the business I have to deal with in the start-up phase: Strategy, funding, legal, home page, right software, building a course platform that actually makes a difference to my clients… Do you have some advice on how to not get overwhelmed? Another question I have is: What can a mentor help me with?

  39. I would love to see a video about starting conversations on Instagram. 1 question: I heard a couple of IG coaches teaching a strategy to grow on Instagram by starting meaningful conversations in DMs. What is you take on this strategy? Is it worth the time as it's so time consuming? Is it only a strategy for creating strong relationships with your community or is it also a good strategy to grow on IG? 2 question. How do you manage 100 DMs per day? Do you now have someone to help you? 3 question. What is your opinion about having a community manager or a social media manager as a personal brand. Is it unauthentic? Would you avoid that?

  40. I would also love a video where you would review different strategies for growing a Youtube channel. Which do you focus on – trying to get in suggested videos or trusting the search? How do you do your tag and video topic research?

  41. Haha, I can't stop with questions. 😅 You asked for it 😂 Last one. What would be you comments on finding a problem you're going to solve for your audience – how to choose from several possible problems? Do you focus on the problem that everyone would seem to be interested in? For example, everyone wants to be seen on social media. Or do you focus on the problem that would be more niche? For example, how to save time as an entrepreneur. Or do you focus on the problem that is more related to your own story? For example, for me it would be solving the problem of how to get clear on your own story to tell that story as a personal brand in social media content. As I had this problem myself or maybe still have, I feel I could passionately be coaching about this. What is your strategy for finding the problem to solve as an entrepreneur and coach?

  42. Is it okay to only be satisfied with the 1,000 subscribers at first? I'm still trying to decide how to go about starting my Youtube channel? Also, are you aware of something called IGTV coming up on Instagram?

  43. Great insight Vanessa! I've built up my business as well & documenting my 6 figure journey on my YouTube channel!

  44. Hey Vanessa! 🙂 Your videos always inspire me! I've recently started my own graphic design business where I focus on a very specific niche: BMX racers (I design helmets, race shirts etc.) I know that this is a very small niche. I'm sometimes wondering if the niche is too small to be able to make a living out of it. I'm excited to hear your opinion on this, maybe you could make a video about this? 🙂 Thanks!!

  45. Hey Vanessa! I'm currently enrolled in your BOSSGRAM ACADEMY and absolutely LOVING it! Thank you so much for creating such amazing content, both paid and free! I would love to learn more about how to edit videos for YouTube please. I'm almost at 1000 SUBS on my youtube channel and currently only use iMovie. Thank you! x

  46. "I work from home, where am I going to take the Chanel bag to, the coffee shop?"

    I laughed out loud but this is really true!

  47. Gosh, your videos are frickin good. Pure gold. Youre flexing that glowing personality, thats what youre flexing. Honestly a random/fun/pointless Bali vlog would be cool. Its business related because it…uh…shows how to take a break from work and return with a fresh perspective?

  48. Thanks for this video Vanessa, it really hit home for me. The biggest take away for me woud be to enjoy the process ♡ Most people race through this part to hit the goal, so thanks for the real talk, super appreciated 🙂

  49. Hello Vanessa
    How do you learn all these things that you know and all the values you are acquiring
    Is there a video on it ?

  50. Thank you so much for this video! I'm struggling on starting my photography business, but I just gotta have more confidence!

  51. HI Vanessa! I love your real talk on this video. 🙂 Really opened my mind more on what I am getting into. 🙂
    Anyways, I was wondering if you could do a video on the financials or capital/initial investment in starting a business (esp. in social media or youtube)?

    I haven't gone through all your videos here yet so if ever you already did one like this, then please disregard my suggestion. haha. 🙂

    As always, great video. Love that i am learning so much from your content. 🙂 Thank you so much.

  52. I love taking advice from you and Sunny. So helpful and I especially love that you are both in my neck of the woods, helps me believe that I can grow my small channel 🙋‍♀️🇨🇦💜💯

  53. Hey, Vanessa! I’m a singer songwriter and I’m looking to build my audience on Instagram. Your videos have been SO helpful, but now I’m realizing that my content isn’t up to snuff. I need to take nicer recordings of my music. I’m wondering: would u mind making a video of what equipment u use to record these awesome YouTube videos? Sound/lighting/camera stuff? If you have already made this video, so sorry! I must have missed it! But if not, I would love to know, and I think other beginners would, too. Thanks!

  54. Hey Vanessa, I have one question. Is it possible for a person to make 6 figures in SMM without selling courses or coaching programs?

  55. Loved your video. I have been binge watching all your vids as I am trying to up the Quality of the content on my own channel. I loved how you talked about how you edit your videos:
    Namely not one big chunk, that will help me lot when I am sending my videos off to an editor. BTW, if you could talk about how you hired a video editor for your channel I would appreciate it. I have recently taken to do this, and to be honest, the 3 I have hired so far have not worked out so great. I have only published content from one of them, and I really not all that satisfied with his work. I feel like I know more than all the people that I have hired, which is crazy, maybe I should start pitching my services as a video editor 🙂
    But if you could talk about how you hire, how you pay, what the costs typically are, I would definitely appreciate that. If you are looking for more great content, Maybe we could do some sort of collaboration. I like to focus on the Synergy between Business Technology and Personal Finance, one of the things I like to discuss is what I call a micro-business, That is to say a 1-5 person lead business with revenues in the 6 – 8 Figure mark and how that is really revolutionizing the economy not just in the US (I think you said you are in Vancouver, that's in the US right… ) but around the globe.
    Maybe you could discuss that as well. Anyway, again, I really loved the video, keep up the good work.

  56. You're quickly becoming one of my favorite youtubers and you're no where near my niche but your advice is universal to upcoming influencers. I'd love to see a video on how much time you should spend socializing and commenting on instagram to get attention from other users. Should I spend more time with smaller accounts, hashtag pages, or promote bigger influencers in my niche so that, that social group can start talking about me?

  57. Being the last one to get paid. That one took me by surprise. You have to be prepared to work your arse off for nothing and not let it get you down. It’s a long climb growing a business

  58. Hi, there! I watched your equipment video and I am interested in purchasing in the Sony A6400. However, I was going to ask if you are using that to film sit downs AND vlogs or if you are still using your A5100 for vlogging? I appreciate and value your time. Thank you so much.

  59. If you could do more videos on the various types of "coaching" that people can think about getting into and tips on how to start would be great. Youtube hacks a great but you should transition a little more with Coaching & Youtube hacks. Thanks for all the great vids!

  60. The working from home comment is hilarious. As someone who works from home as well, the only time I get to dress up and flex is going to a coffee shop lol

  61. You're honesty here is so valuable! Thank you! Love the authentic truths you are willing to share. thank you for not flexing!!!! 😂

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