Conversations With Black Millionaire Entrepreneurs

Conversations With

Black MillionaireEntrepreneurs

No Non-Sense Lessons from ThoseWho’ve Been There, Done That!

© 2007-09 Bro. Bedford. All Rights reservedwww.brobedford.com

http://www.brobedford.com/

Conversations With Black Millionaire Entrepreneurs________________________________________________________________________

________________________________________________________________________© 2007-09 Bro. Bedford – All Rights Reserved. www.brobedford.com

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About the author

He has been featured on Radio One and XM Radio, he has also appeared onseveral other radio and television programs across the Country.

He is the author of several e-books, reports and courses:

Conversations With Black Millionaire Entrepreneurs: No Non-Sense LessonsFrom Those Who’ve Been There, Done That!www.conversationswithblackmillionaires.com

Black Entrepreneur Gold™: Strategies and Marketing For Business Profit andGrowth. http://www.blackentrepreneurgold.com

Digital Publishing Riches: Make A Small Fortune Working Just a Few Hours aWeek From The Comfort Of Your Home!http://www.digitalpublishingriches.com

Information Marketing Biz: The Perfect Home Based Businesshttp://www.informationmarketingbiz.com

How To Buy Silver & Gold To Protect Your Wealth and Savings.http://www.howtobuysilverandgold.com

Bro. Bedford is founder of How To Be A BlackEntrepreneur.com and President of G.B.I. GroupL.L.C. a private investment firm

Bro. Bedford is considered by many to be a fresh newvoice with new and innovative ideas for BlackEmpowerment particularly in the areas ofEntrepreneurship and Investment/Finance.

http://www.conversationswithblackmillionaires.com/

http://www.blackentrepreneurgold.com/

http://www.digitalpublishingriches.com/

http://www.informationmarketingbiz.com/

http://www.howtobuysilverandgold.com/



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NOTICE: You Do Not Have the right to reprint orResell this E-Book!

You Also May Not Give Away, Sell or Share theContent Herein

If you have purchased this ebook from anywhere other thanhttp://www.howtobeablackentrepreneur.com, you have a pirated copy

Copyright 2007-09 Bro. Bedford

ALL RIGHTS RESERVED. No part of this report may be reproduced or transmitted inany form whatsoever, electronic, or mechanical, including photocopying, recording, or byany informational storage or retrieval system without express writer, dated and signedpermission from the author.

DISCLAIMER AND/OR LEGAL NOTICES:

The information presented herein represents the view of the author as of the date ofpublication. Because of the rate with which conditions change, the author reserves theright to alter and update his opinion based on the new conditions. The report is forinformational purposes only. While every attempt has been made to verify theinformation provided in this report, neither the author nor his affiliates/partners assumeany responsibility for errors, inaccuracies or omissions. Any slights of people ororganizations are unintentional. If advice concerning legal or related matters is needed,the services of a fully qualified professional should be sought. This report is not intendedas for use as a source of legal or accounting advice. You should be aware of any laws,which govern business transactions or other business practices in your country and state.Any reference to any person or business whether living or dead is purely coincidental.

http://www.howtobeablackentrepreneur.com/



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This e-book is dedicated to all those who have a sincere desire to beentrepreneurs, to bring out the best of what God has placed in you.

It is my earnest Prayer that this book helps you on your journey.



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GIVING THANKS

I’d like to give thanks to the God, the Author and Creator of theHeavens and Earth.

I’d like to give thanks to my family for all of the support and love thatthey have given me over the years.

I’d like to give a special thanks to My Wonderful, Loving, andSupportive Wife and our beautiful children.

I’d like to give thanks and deep appreciation to Cathy Hughes, LesBrown, George Fraser, Dennis Kimbro, Randal Pinkett, AndrewMorrison and Ephren Taylor for allowing me into their world to sharethe message of Black Entrepreneurship to our people. I’ve learned somuch thank you.

I’d like to give thanks to all of those who subscribe to my e-zine. IHope and Pray that this book and the e-zine is beneficial to you.

To Your Victory and Success,

Bro. Bedford



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Lessons

My Conversation with Dennis Kimbro

Characteristics and Traits of Millionaires…4 common chords ofsuccessful millionaires…How to discover your area of Excellence…The

difference between haves and have nots

My Conversation with George Fraser

The Power of Networking…5 hurdles you must overcome…whatmakes successful entrepreneurs successful…Transcending

management to leadership…10 best businesses for black people

My Conversation with Randal Pinkett

Experience on the Apprentice…Before you get started as anEntrepreneur…Competitive Mind vs. Cooperative Mind…Be a Campus

CEO…Importance of a Business Model…Importance ofTechnology…Mistakes

My Conversation with Andrew Morrison

How Oprah Winfrey found him…The Secret that boosted him fromunder $100,000 to over $3,000,000…The Difference between

Entrepreneurs and Managers…Keys to starting a business for under$500…How to write and sell your own book



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My Conversation with Ephren Taylor

Middle School Entrepreneur…retiring at 19…the importance of aMentor…Should you be running your company…The differencebetween a private company and public company…How to raise

Capital…Reality Check

My Conversation with Les Brown

Effective Speaking…Developing your Mindset…Having a smartergroup…Communication skills…the secret to a $640,000 contract…the

power of small numbers…Mental Conditioning

My Conversation with Cathy Hughes

The start of a Media Empire…Overcoming sexism…The importance ofa Banking Relationship…The Quiet Storm…Talk Radio…First Steps for

Black Women…Most Important trait for Business



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Preface

There will never be a shortage of someone giving you advice on whatyou should be doing in your business and personal life. The questionbecomes are they qualified to give the advice they are giving. Thebigger question is why are you allowing unqualified individuals to giveyou advice on how to shape and guide your future.

My life is all about shortcuts. No that doesn’t mean that I look for theeasy way to do things, however, that is not a bad thing either. But itdoes mean that I strive very hard to equip myself with the knowledgenecessary to accomplish the task at hand. And that means seeking outqualified individuals and gaining the education and experience thatthey have to offer that adds value to my life.

And I don’t mind paying for it, no matter what the cost. If I could pay$1,000 and receive a technique, receive insight that could add $10,000worth of value to my life why wouldn’t I. It’s a no brainer for me.

This book just scratches the surface on such a broad subject as BlackEntrepreneurship. You have well over $2 billion worth of businessexperience coming from those that I interviewed. We would not haveenough space to answer every question in a 100 books, but in this bookwe do answer some.

My life has been enriched by interviewing these giants of ours and IHope and Pray your life will become enriched by reading theinterviews.

To You Victory and Success

Bro. Bedford



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Foreword

I have been asked on more than one occasion over the life of mycareer, “How do I become a successful entrepreneur and are there anybooks I would recommend to achieve entrepreneurial success?”

I have repeatedly stressed how you can generate value by creating abrand identity that helps you generate deal opportunities. You shouldlook for sectors that are growing and identify strategic partners whocan bring something to the deal that you don’t such as capital, talent,and infrastructure.

The answer to the second half of that question is there isn’t any onebook that can give you everything you need to know about being asuccessful entrepreneur.

However, I will say that the best way to get you started on yourjourney of entrepreneurship is to learn from those who have alreadygone down the road before you. Learn from those who have leftfootprints.

In Conversations with Black Millionaire Entrepreneurs you’ll get reallife changing information from some of the most successful blackentrepreneurs in America today. All in one source, all at the same time.

Although I didn’t have a book like this when I started, I believe it is avaluable resource for those who are striving to become successfulentrepreneurs.

Bro. Bedford has provided a tremendous service to the African-American community with these interviews.

My Conversations with Black Millionaire Entrepreneurs is not just abook, but also a valuable guide and resource for those looking toachieve wealth and success.

Bob Johnson, Founder of BETand The RLJ Companies



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Conversation with Dennis Kimbro

Bro. Bedford: This is Bro. Bedford from How To Be A Black Entrepreneur.com andjoining me today in conversation is Dr. Dennis Kimbro one of the great Black mindsin the world today. He is an educator, author, professor, lecturer, and a researcher.Dr. Kimbro is universally characterized as one of the most insightful and scholarlywriters in the field today. His honors and awards from the business community arejust to numerous to name. He has been featured in several publications, SuccessMagazine, Black Enterprise Magazine. He has appeared on several televisionprograms Larry King, CNN. He’s been in the Wall Street Journal, the New YorkTimes, and the USA Today. I could go on an on about this giant that we are aboutto have a conversation with today. First and foremost we want to thank you DrKimbro for joining us today. Is there any thing that you would like to open with?

Dennis Kimbro: I’m fine, thanks for having me and I’m ready to go. What ever youwant to discuss I’m fine.

Bro. Bedford: Whenever I am in the midst of those who want to be successfulEntrepreneurs I ask them have they ever read Think and Grow Rich: A Black Choiceby Dennis Kimbro and some to my surprise have not read the book or encounteredyou in the past, so can you tell us a little about yourself for those that are not awareof you.

Dennis Kimbro: Well I just want piggyback on what you said. Think and GrowRich: A Black Choice was really the last book written by Napoleon Hill. There arepeople out there who don’t realize that. They ask, what is the difference betweenyour book and Dr Hill’s? Well there isn’t any difference that is Dr Hill’s Book.

I was going around the country interviewing successful African-Americans for a bookthat I was writing that was tentatively titled What Makes the Great, Great. And overthe course of my research I interviewed Earl Graves the publisher of Black EnterpriseMagazine. When I got back home from New York there was a message on myrecorder from non-other than W Clement Stone.

He left a message that said, “young man we heard of you, when can you come toChicago I would like to meet you”. I returned His call and about 10 days later there Iam in the suburbs of Chicago standing in front of this paragon called W. ClementStone.

Now for your readers, who don’t know who W. Clement Stone was, he wasNapoleon Hill’s personal manager and he was the Bill Gates of his time. At one timehe was arguably the wealthiest individual in the country.



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He says to me, “young man based upon what we see and hear we have aproposition for you”. I say, “What is that Mr. Stone”. He says, “We want you tofinish, update, and complete a book”. I said, “what book?” and when I asked thatquestion W Clement stone reached across his credenza and pulled out the last 100written pages of Napoleon Hill and dropped it in my lap and said, “this book”. Ithumbed through it and there were no chapter headings. It was like 100 pages on anumber of subjects and I said to him, “I’m honored, but I can’t do this”. He said,“why not?” I said, “I’m working on a book of my own.” He said to me, “If you haveany sense push your book aside and finish this”.

At the time of his death Napoleon Hill was attempting to write a Black version ofhis all-time classic. He got 100 pages into the manuscript and died of a stroke.He was 84 years old and W Clement Stone held on to those pages for 16 years.If Napoleon Hill had lived one more year, what became Think and Grow Rich; ABlack Choice coming out in ’91, ’92 would have come out in ’71, ’72. That’s myhistory and that’s why both of our names appear on the cover of that book.

Bro Bedford: That is a wonderful history. What inspired you to take on such atask of writing a book such as What Makes the Great, Great and then of coursegoing on to write Think and Grow Rich: A Black Choice?

Dennis Kimbro: I was looking at wealth and poverty in terms of my education,particularly my dissertation at Northwestern. I was looking at wealth and povertyamong underdeveloped African Countries and when I finished I knew I didn’twant to examine that subject any more, but I was still enamored with wealthand poverty.

I said to myself being a little bit cathartic and introspective, “you know why don’tyou look at wealth and poverty among individuals, particularly African-Americansin this country?”

I developed a three page questionnaire and I went around the country and Isaid, “ Well, let me interview those who have some semblance of success”, atthat particular time the John Johnsons, the Earl Graves of the world particularlyentrepreneurs.

With What Makes the Great, Great, I expanded it to all domains. I looked atOlympic athletes, I looked at corporate climbers, and I looked at people whocarved their name on the tablet of success. So it was that type of audience andthat type of framework that I began to examine a host of questions.



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Remarkable thing about these individuals is that they’re unremarkable, they justuse the same traits, keys, and qualities over and over again.

In What Makes the Great, Great. I found nine criteria for greatness, nine virtuesof greatness. If you read Think and Grow Rich: a Black Choice, you’ll see 12different issues or certain skill sets that these men and women had in common.The bottom line is anybody could use those skill sets to place themselves,himself, or herself on the fast track of success.

At the time it was very rarely spoke about. I don’t pat myself on the back or saythat I am different or unique, but that arguably was one of the first books outthere that let black America know that you don’t have to be a victim, you cancertainly be a victor regardless of the field that you’re in.

Bro. Bedford: When I read and study your work, I sense that that this is a manon a mission. You mentioned you wanted to look at wealth and poverty and thenspecifically go after Black America to show us that these laws and principles areavailable to everyone, I am intrigued by your sense of mission to cris cross thecountry to do that.

Is this how you got your start as an entrepreneur?

Dennis Kimbro: That’s basically what I did. When you interview one of theseindividuals that certainly stokes the fire for you to go on and interview somebodyelse. I knew because these folks didn’t know me from Adam, I had to get thebiggest man or woman on the block.

So what I did was try my best at the time to go after John Johnson of EbonyMagazine and it took me two years to get John Johnson. It took me more thantwo years to get Ben Carson, arguably the greatest neurosurgeon in this country.

I was persistent, I was diligent, and I was ambitious. When I told people what Iwas doing they said, “Oh my God, you’re doing that”. Regardless, it was a seven-year ordeal and I was naive, because I thought it would take me no longer than18 months and when I say seven years, I mean seven years of financial hell andhigh water.

This was a full time proposition. Yeah, I was working in corporate America at thetime, but after about the third year if these folks gave you the interviewsometimes you had to go the next day. You couldn’t say you had a meeting withyour boss or you had to do ABC, xyz, and 123. When these individuals called



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you had a choice, either go get the interviews or keep a roof over your head. Idecided to go get the interview.

I initially started out with a list of 50 individuals. That initial list of 50 grew to100, from 100 to 150. I quit counting at 150 interviews. All I can tell people is Igot a chance to meet and sit down with all of them, everybody from CondeleezaRice to T.D. Jakes.

Bro. Bedford: You mentioned something that really strikes a chord with me. Inmy endeavors with How To Be A Black Entrepreneur.com I try to give insight intothe realities of entrepreneurship. You mentioned the financial hardships that youhad to address as you were striving to get these interviews. That leads into my nextquestion, you mentioned financial, but what were some of the other problems thatyou faced?

Dennis Kimbro: You’re going to be bombarded with 50 million different challenges,50 million different roadblocks. Money is only going to be one of them.

When you talk about entrepreneurship in the Black community, we as AfricanAmericans don’t even pursue entrepreneurship as a viable career option. You have33.4 million African Americans in the United States and only 3% run and operatetheir own business. And when you look at this 3% I wouldn’t dare call all 3%entrepreneurs. When you discuss entrepreneurship, naturally you’re going to discussand take part in five different levels of owning and operating a business. Themajority of the people we call black entrepreneurs, they don’t do that. All they wantto do is:

1) Keep a roof over their head2) Put food on the table3) Get the clothes out of the cleaners

That’s not entrepreneurship. Just because you own a mom & pop hamburger standdoesn’t mean you’re an entrepreneur, but if you own several McDonalds you’re anentrepreneur.

We don’t even look, we don’t even examine, and we’re not even attracted toentrepreneurship as a viable career option. That’s the bottom line.

No matter who I interviewed I found 4 common chords in all of these men andwomen.



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1) They dreamed Big Dreams, they had a dream, a passion, something theydesperately wanted to accomplish in life. They didn’t get in this business to make akilling, to corner the market or make a whole bunch of money. They workedextremely hard and over the years of working hard, they finally lifted up their eyesand you know what they found?

They found that they were standing in a pool of liquid Gold. In other words as theBible says, “Do these things and then success would be added unto you.” So theywent the extra mile, they kept their shoulder to the wheel, they stayed focused.

2) They were inner directed vs. outer directed. In other words they weren’t soquick to believe well meaning friends or family members who said you can’t do thisor you can’t do that, they walked to a beat of a different drummer. And that’s whythe old poet Robert Frost was so apropos when he wrote years ago, “ two roadsdiverged in a wood, and I—I took the one less traveled by,” in other words you’reunique.

You can’t succeed being like everybody else. You must take the lonely road.Differentiation is the key. That speaks to differentiation. DIFFERENTIATION ISTHE KEY.

Right now there are 21 different ways to market or sell a product or service, numberone is Word of Mouth, number 21 is Internet, 20 is TV, 19 is Radio, 18 is Magazines.

So what’s so different and unique about your product or service, what’s so differentand unique about you?

You can walk into any Food Line, you walk into any A&P, you walk into any Kroger,and you walk into any Publix and go down the breakfast cereal isle. Right nowbetween Kellogg’s and Post they produce 20 different variations of breakfast cereal.From Fruit Loops to Cocoa Puffs, Raisin Bran to Special K. Last years Marketing andoperating budget-$1.5 billion dollars to differentiate all those breakfast cereals.

Right now General Motors manufactures 33 different automobiles, from the BuickLesabre to the Hummer. Last years marketing budget to differentiate all 33 of thoseautomobiles-$2.5 billion dollars.

So you’re an Entrepreneur, why does the market place need another source ofsupply. You’re not the only one out there making hamburgers; you’re not the onlyone out there making a widget. Why does the market place need you?

So, describe your business in 10 words or less. Describe your business in 5 words orless. Describe your business in 1 word.

What is your Unique Selling Proposition?



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3) They dedicated themselves to life long learning. The information is there.One of the qualities these Entrepreneurs had in common, they ALWAYS seek outnew INFORMATION. In other words, they are very particular whom they allow intheir CIRCLE.

So who is in your circle? I’m speaking rhetorically now. Who is in your circle? Seeyou can’t be the sharpest one in your group. If you’re the sharpest one in yourgroup, you can’t grow, and when you stop growing you begin to die. SO WHO’S INYOUR CIRLE?

Who’s making you feel stupid? Who’s making you feel like a jerk? Who’s makingyou feel like an idiot? Who’s compelling you to go out and get the book, buy thebook, read the book, apply the book, highlight the book, use everything in the bookthat you’ve read, PUT IT INTO ACTION?

You better pray that someone in your group is compelling you to do that, If notyou’re DEAD.

Bill Gates, the wealthiest individual in the world right. He is not going to bringanyone in the circle who can’t add to him. He’s worth what? $44- $50 Billion, you dothe math. That’s $100 million dollars a day, $4 million dollars an hour, $67-$70,000dollars a second.

He’s not going to waste his time with somebody. Who do you think he’s going toallow in his circle, someone that will help him go forward. But what do we do, we dothe same thing over and over again. Not these Entrepreneurs…they know. Theyknow the two greatest days of your life:

1) The day you were born.2) The day you know why.

And last but not least, these men and women flat out refuse to fail. I’m notsaying that they didn’t fail, many of them failed their way to success, but failure wasNEVER a viable option for them.

There you are.

Bro. Bedford: Those traits are worth their weight in GOLD. Anyone attempting tobecome an entrepreneur, I don’t think you can learn those traits from any textbook.It takes someone who has gone out to interview those and really see the innerworkings of successful entrepreneurs to find out that these are the most importanttraits that you must have.

Dennis Kimbro: That’s what I found over and over again.



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Bro. Bedford: If you were to advise a new Entrepreneur, someone just starting hisor her business, what should be the first steps taken to become a successfulEntrepreneur?

Dennis Kimbro: Number one, not every idea is an opportunity. You have to becritically clear on what you are trying to do. To make sure that your vision is CrystalClear you've got to ask yourself some hard charging questions. Why does themarketplace need another source of supply and who are you to bring this market tobear? Who is your customer? Tell me who is your customer in terms of allthe Graphics...

Demographics: Give me the age, race, sex, and income of your customer...

Psychographics: Why does your customer buy from you?

Geographics: Is your customer located in New York? Is your customer located inMiami? Is your customer located in Houston?

Once you tell me who IS your customer, tell me who IS your NON-customer. Whoare the individuals who currently aren't using your product or service, but would useyour product or service in the future if you made a slight change or modification toit?

Would you rather have all the black women who read Essence Magazine or wouldyou rather have all the black women who read Red Book, McCall's, Cosmopolitan, orOprah Magazine?

That’s crystal clear. These are all magazines that continue to take their business tothe next level by expanding on something that Essence created in 1969 or 1970.

Bro. Bedford: I find that what you’re saying Dr. Kimbro is so intriguing. Basedupon what you’re saying, it’s not an insurmountable task, but when you give all ofthese things that a person should consider:

The demographics

Your target market

What books do they read

That turns a lot of individuals off from even wanting to pursue entrepreneurship.

Dennis Kimbro: Yeah! Entrepreneurship is dirty work,



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Bro. Bedford: Laugh. I never heard it put that way.

Dennis Kimbro: Entrepreneurship in not easy. If it were easy everybody would bedoing it. One thing about entrepreneurship, it is critically fulfilling.

When you discover your gifts! When you discover your area of excellence!

And how do you discover your area of excellence?

You ask yourself 4 critical questions.

Question Number 1-What do I love to do? What do I have a passion for?What can I throw my whole heart and soul into?

Question Number 2-What would I do for free? If no one ever paid me a dime, ifno one ever gave me a financial reward for my efforts what would I do for free?

Because if you’re doing what you love to do and you’ll do it for free you’ll work asyou play and if you work as you play you’ll never work a day in your life.

Question Number 3-What comes easy to you but difficult to somebody else?In other words, what is your area of unfair competitive advantage?

Then last but not least-If you can’t answer these questions openly and honestly,then go to those people you respect and admire and ask them, what do you see meas? What do you think I’ll be good at doing?

Sooner or later in life you’ve got to do that.

Bro Bedford: Right, those are very powerful words. Based upon today’s economyand the things that are going on, how important is it for, you gave us some startlingnumbers at the beginning, but how important is it for the black community toembrace entrepreneurship as a means of not just making money as you mentionedearlier but almost as a means of survival. How important is it?

Dennis Kimbro: Well it’s critically important because when you examine wealth, Imean this is as far as the train is going. If we want to reach our destination, wehave to walk from here. When you look particularly in wealth creation, in blackAmerica, there’s so much pathology, the numbers are staggering. Do you know that32% of African-Americans don’t even save at all? Do you know that 28% of African-Americans spend more on a weekly basis than they bring in? Do you know that oneout of ten African-Americans, are in 401K, Stock Market, Money Markets and MutualFunds? These are wealth-bearing assets and we don’t even participate. We’re noteven at the party.



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So all you have to do is look at the data and don’t tell me that white America leadsthe parade, because white America doesn’t lead the parade. When you look atwealth and wealth creation, Asians lead the parade. The average Asian household is$63K, whites come in second, and they’re about $53, $54, $55, and Hispanics comein 3rd about $44 or $45 and Black America, $29K.

We don’t even pursue entrepreneurship; we don’t even look at it. We’re in a heavyweight fight and we’re precariously close to the referee going in our mouth, pullingout the mouthpiece and waving that this fight is over with.

The day that I graduated from high school, June 1968, 72% of my race and 72% ofmy generation finished high school with me. I’m 56 years old. Do you know what itwas last year, 50%? We don’t even finish high school. We don’t even finish highschool. Twenty-nine percent of Americans have a college degree compared to 13%of African-Americans. We say that education is a priority, but we don’t act like it.

Every ninety seconds of the day, every ninety seconds of the day, a black child isborn to a teen mother. Every ninety seconds of the day, a black child is born to ateen mother who will not finish high school. Every four minutes of the day, a blackmale is suspended from school. Every forty minutes of the day, a black male isconvicted of a violent crime. So I mean those are the numbers.

The book that I’m working on now Haves vs. Have Nots, where I am surveying blackmillionaires. I could tell you everything you want to know about a black millionaire.The average black millionaire gets up between 5-5:30 everyday and calls it a day at10:30-11 o’clock at night. The average black millionaire owns two cars. If one isnot a Mercedes, the other one is going to be a Lexus and the other will be a GeneralMotors.

The average black millionaire goes to church twice per week, Sunday service or aWednesday night bible studies or auxiliary meeting during the week. Black femalestithe and black males give 10-12% of their money in charity. And the church thatthey attend, less than two thousand members.

Bro. Bedford: So no Mega Churches.

Dennis Kimbro: No Mega Churches for them. If you want to be a blackmillionaire, this is the sure fire principal to be a black millionaire. Are you ready?Earn a $100K by age 30. Make sure your annual income is six figures by age 30.Almost guaranteed.

Bro. Bedford: That came be scary for those who are over the age of 30.



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Dennis Kimbro: Yeah, there you are right there. That’s it. That’s it in a nutshell.27%, more than one out of four are Harvard MBA’s are millionaires. What’s a surefire principal in the black community? Here it is, six-figure income by age thirty. Ifyou do that then you are well on your way.

Bro Bedford: What would you say to those who are over the age of 30?

Dennis Kimbro: Well what I have found in my research is what they call a calculusof consumption. When I say a calculus of consumption, if the independent variableis time, I know how the Haves, look at it and Have Nots. The title of the book isHaves vs. Have Nots: What Black Millionaires Know That Other Do Not. So farexample, if the independent variable is time a have not will look at time frompresent to the past, but the have always looks into the future.

If the independent variable is family unit, the Have Not, matriarchal, the Have,patriarchal to legacy. In other words, if your a Johnson, your last name is aJohnson, your grandfather succeeded, your father succeeded, you have got tomeasure up. That’s legacy.

IF the independent variable is education, the have not, looks at education from K-12, but the have, looks at education as life long.

If the independent variable is driving force, the have not, I’m just trying to survive.Survival, I’m just trying to live day-to-day, but the have, achievement.

So there you are in a nutshell.

If the independent variable is money and you listen to me, if the independentvariable is money, the have not looks at money like act rich, spend it, consume it,but the have, act poor, conserve it, save it.

I didn’t mention anything about race, I didn’t mention anything about age, I didn’tmention anything about start up capital; all you have to do is change yourthinking. And this is from millionaires.

I asked them 118 questions, no athletes, no entertainers, these are just men andwomen that you pass in the street that you wouldn’t give the time of day to. Like Isay the remarkable thing about black millionaires, is that they are unremarkable.

Bro Bedford: One of the things that I hear you’re saying Dr. Kimbro is that we arein need of a serious paradigm shift.



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Dennis Kimbro: Oh without a doubt! Number one you have to have leadershipand we don’t have the leadership in the black community right now. We don’t havethe leadership. You got to have the leadership because it’s lacking.

Bro Bedford: We’ve normally have had our leadership come up through thechurches and different civic organizations, with this new paradigm shift where wouldwe look or where do you foresee this type of leadership coming from?

Dennis Kimbro: Well you can learn from anybody. You can learn from anybody.The fact of the matter is don’t focus so much on the individual as you focus on theprinciples. That’s just like Hansel and Gretel in the forest, just follow thebreadcrumbs, not so much the individual as the actions. As the actions and that’swhat’s critical.

Bro Bedford: You know, that’s one of the principles or messages, I try to send tomy subscribers and I really stress, is that we have to learn from those who havewalked the path before us. We have a tendency to, when we see successful people,we almost run and try to out do them in a different way instead of following theprinciples or the footsteps that you just mentioned or those crumbs or those breadcrumbs to get that type of success.

Where do you see that change? Or is it possible for the institutions in the urbancommunities to give us those types of examples or that type of thinking that wewould gravitate toward those who are successful without being envious and jealous?

Dennis Kimbro: Yes it needs to start with our institutions. The number oneinstitution is the family unit. The quickest way to wealth is marriage plus savings.That is the quickest way to wealth. Now that’s the good news, the bottom news isthat when I look at our marriage numbers, of course it’s just like anything else,we’re lacking again.

Fifty-five percent of the country marries, Black America 24%. Why? Because ofour view of manhood or what our young males think of manhood is certainly lackingand certainly runs counter to the rest of the country. Why? Because we see ourimages on BET, we see our images on TV and we hear them on the radio and thathas nothing to do with really where our institutions are headed and where they’regoing.

Number one is the family unit. Number two is the education system. In this day,unbelievable, in this day we need to build up our educational institutions. We have100 historic black universities and black colleges and only one, only one, SpellmanCollege is what they call competitive or more competitive I should say.

Those are the particular areas that we have to concentrate on.



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Bro Bedford: It’s very inspiring at the same time because individuals such asyourself and I love what George Fraser and what a few others are doing. If wecould find a way because I don’t believe the educational system or the traditionaleducational system is going to provide these kinds of examples for one; nor thecurriculum, or the inspiration to expand our minds the way that you say. So therereally has to be a different way that we educate each other in the black community.Would you agree? Can you expound on that? What type of means? I likeseminars.

Dennis Kimbro: Well I mean again going back on the principles or when you talkor dialogue on education, it’s very simple.

R.I.E.

1)-Relationships-Foster relationships between administration and faculty;relationships between faculty and students.

2)-Insistence-You insists this is the way it’s going to be done. You tell yourstudents that the only reason you can see far is because you’re standing onsomebody’s shoulders.

3)-Last but not least. Expectation-You expect and demand the best. You seepeople to don’t get in life what they want, people get in life what they expect.People want to be wealthy but they expect to be poor. People want to have a nicecircle of friends but they expect to be friendless.

Bro Bedford: The expectations are so important. I asked one young man the otherday what is that he wanted out of life and he appeared to have a death wish, Imean he knew that he was going to die before he was 21. He said what’s the use ofreading that or studying this because I know I’m not going to live long. Theexpectation is very limited in the black community. How do we raise that bar?What is it that we can do immediately?

Dennis Kimbro: Well, there’s certainly a crisis between black males and the rest ofthe country and the rest of society. If you weight 325lbs. and you’re 5’10” and yourblood pressure is 190 over140 and your cholesterol is in excess of 275 and yousmoke a pack of cigarettes a day and you haven’t exercised in years and Iapproached you and say hey, it’s the first of the year, let’s join this gym and joinweight watchers and your reply is “I don’t need that, I’m in good shape, I don’tneed that”, what would you be saying? You’re saying that you’re in denial.

Well here you have a subset of individuals, all males and they happen to be blackmales and they’re 6% of the population; and of that 6% they’re responsible for 50%of all violent crimes. Did you know that in the year 2005, FBI Crime Statistics saysthere were 14,725 murders in 2005? And of those 14,725 murders, black males



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committed 50%. 7,362.50 (actual) murders in 2005 were committed by black malesand of those 7,362.50 murders that were committed by black males; 91% involved ablack victim. And out of the 7K plus murders committed by black males, ColumbiaUniversity History Department says that that’s more than in 150 years that all theblacks died during slavery.

Now when I approach you and say, we have to do something about the mentalhealth of black males and you tell me we’re fine or you do nothing, just like the firstanalogy that I gave you, the overweight, chain smoking, you’re in denial. Ourmental health is not where it should be.

When I interviewed with Dr. Alvin Poussaint and asked what is greatness? What issuccess? He said, “Black America will never be great until it begins to take care ofits children”.

Bro. Bedford: Right.

Dennis Kimbro: I gotta run my brother.

Bro Bedford: No, I really appreciate the time, are there any closing statements orremarks that you’d like to make.

Dennis Kimbro: No, the key characteristic that they all had was finally is belief.You believe in yourself or no one else will. Only you keep score.

Bro Bedford: I want to thank you once again and I look forward to talking with youagain hopefully real soon.

Dennis Kimbro: Take care.

Bro Bedford: Thank you, you too. Bye.

Dennis Kimbro: Bye-Bye.



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Conversation with George Fraser

Bro. Bedford: This is Bro Bedford from How to be a Black Entrepreneur.com andjoining me in conversation today is another one of the great black minds in theworld today none other than George Fraser. He is the chairman and CEO ofFrasernet Inc. He is considered by many to be the new voice for African-Americansand one of the fore most authorities on networking and building effectiverelationships. He is the author of two books, which everyone should have in theirlibrary Success Runs In Our Race The Complete Guide to Effective networking in theAfrican-American Community and Race For Success The Ten Best BusinessOpportunities For Blacks In America.

He is a very popular speaker and an author and his inspiring talks on successprincipals, effective networking, wealth creation, business ethnics and valuingdiversity are not just popular amongst corporate professionals but very popularamongst college students. He has been solicited by CNN and Wall Street Journal forhis views. Upscale magazine has named him one of the “Top 50 power brokers inBlack America”. And Black Enterprise Magazine called him “Black America’s #1Networker”. And if I went on with all of the business accolades and awards over thepast years for Mr. Fraser we would run out of time for this interview.

First we want to welcome you and thank you for this opportunity this morning Mr.Fraser.

George Fraser: Thank you so much, Bro Bedford for having me on and thank youfor taking time out of your busy life to do this interview I am deeply appreciativeand hopefully, today through your interview we can add value and add some insightto the lives of black people, as they seek to change the condition of our people tocreate and start more businesses and thus create work and jobs for our people.

Which is really the only way to raise up the poor. For we must create work and jobsfor our people as every other culture group, that come to this great country hascreated work and jobs for their people. So thank you for having an acute interest inthat subject matter and allowing me to express my views with you today.

Bro. Bedford: Thank you Mr. Fraser. Well let’s get started when I am doing anyinterviews or surveying those who want to become successful black entrepreneurs.I always ask them what books they have in their library.

I’m a firm believer that we should have the books from the giants from ourcommunity that will help guide us on that path, so I always ask individuals, “Do youhave Success Runs In Our Race in your library by George Fraser?” And sometimesto my surprise those that our on the track to entrepreneurship do not have the bookor have not encountered you. So just briefly could you give a little information onyour background for those who may not know you or have not encountered you?



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George Fraser: Yes, I live in Cleveland, Ohio but I’m a native of Brooklyn, NewYork. My father came to this country in the early 1900’s from Guiana and married abeautiful fair skin sister Ida May Baldwin from Lumpkin, Georgia. They lived inBrooklyn and had 11 children, 8 boys and 3 girls so I’m from a family of 11.

At the age of 4 my mother became mentally ill and was institutionalized for herentire life and my father who was a cab driver because when he came to America inthe early 1900s, could not get a good education to get a good job, so he was drivinga cab, as was a lot of immigrants who come to this country and he could not takecare of 11 children, working 12 to 14 hours a day.

So we were put into an orphanage broken up into three’s and then I spent my entireyoung life until I aged out of foster home. In foster homes growing up in the streetsof Brooklyn New York was very, very traumatic experience as a young man.

I then went on to high school and graduated with a vocational degree in woodworking because my teachers and guidance counselors at the time did not feel asthough I was college material, fortunately I did not feel that and for many yearsworked in the night shift in LaGuardia airport mopping floors while I went to collegeand the rest is history.

So the point here is that life is not about where you start, it is about where youfinish, don’t let anyone make the decisions about your life that you feel deeply andgo on and do Gods work and the chips will fall where they may.

I went on to leadership positions with Procter & Gamble, United Way and Ford MotorCompany for about 20 years. At the age of 41, 42 decided that I wanted to start myown business so I’ve been in business now 20 years.

I started with a provocative idea and that was to teach black people the power andimportance of relationships, the power and importance of networking, the powerand importance of developing superior interpersonal and people skills so that we asa people can leverage more effectively the collective resources of black people, ourintellectual capital, our financial resources, our human capital to take our people tothe next level.

I had sort of identified that particular thing as I watched and observed as experiencein my own life, my ability to climb the ladder of success very quickly, not because Ihad the pedigree of Ivy League education with fancy degrees, all though educationis profoundly important, but I was able to climb where others were not able to climband do good because I had really good people skills and interpersonal skills and myability to get along and work with other people at work, at home, and in thecommunity, really enabled me to rise.



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I was able to achieve goals through networking and team work where other peoplejust were not able to achieve although they had all of the working knowledge andthey had all of the analytical skills but they didn’t have other kind of skills,operational skills and they didn’t have the people skills.

So I identified that with something that we as black people really needed to work onespecially considering how much Willie Lynch is still deeply imbedded in thesubconscious mind of black people. The tremendous crab in the barrel mentality, thebad self-image and self-hatred that we had was really something we needed to workon and change so that the people can rise.

So to do that I start a business called Frasernet and it was to teach black people inthe area of networking. I began that by putting on networking events each month inCleveland Ohio, which is where I live and then from there produced a directory fromall the business cards I had collected at each of these events where 3 or 4 hundredpeople would show up once a month.

We produced some success guides The Networking Guide to Black Resources. Thenfrom there I went on to write a book about networking 14 years ago called SuccessRuns In Our Race The Complete Guide To Effective Networking In The African-American Community. That book is now the seminal work on networking in blackAmerica. It began the conversation about networking in black America.It is required reading in 57 historical black colleges. We just brought out the 10th

Anniversary updated version of Success Runs In Our Race and the rest is history.

From the book came speaking engagements from speaking engagements we beginto put on conferences, Our global conference called Power Networking in Atlantaand then from the annual conference we begin to put on quarterly events now ineleven different cities around the country teaching black people principals morallygrounded spiritual leader principals of effective networking, building relationships,and most importantly economic development, wealth creation the closing of theincome and wealth gap, which is deeply and closely connected to us sort of gettingtogether to get ahead. Where we have a lot of us doing a little instead of a few of usdoing a lot.

That is my life story that is the reason why God has put me here that is my purposein life. I get tremendous enjoyment and satisfaction from doing that. It’s not likework to me. I believe that any one who is on purpose, anyone that is doing whatGod put them here to do not only will they do it well, but with excellence andenjoyment and fulfillment and they will find a way to make a profit and make adifference.

That is what Frasernet is all about. The Web site is called Frasernet.com people cango there and find out all kinds of information about the things that we are doing, themembership programs, the programs that we put on in each city and the annual



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conference. I’m just excited to be alive and excited to be able to do God’s work andto bring our people to an understanding about themselves and our people and aboutcommunity and about the goals and objectives that we must change in the 21st

century.

Bro. Bedford: Wow! That is such a wonderful story Mr. Fraser I’m so glad thatyou have given us the opportunity to take a look at your personal journey,sometimes when we see an individual some what in a finished state we think it iseasy, that they just leaped frog to that position. It’s so wonderful to hear arefreshing story to know that you had some hardships but you overcame some ofthose hardships. Particularly with entrepreneurship what were some of the mostcritical problems that you faced in the beginning stages of Frasernet.com?

George Fraser: The problems that I faced and the team that we put together tostart Frasernet were the problems that are really no different than the problemsmost African- Americans have when starting and building and growing a business.

The first thing I had to overcome was the teaching of our generation, I’m a babyboomer, I’m 62 years old, so when growing up it was very, very important that ourparents taught us that we must get a good education and get a good job.

That was the mantra for our generation of parents because they could not get agood education to get a good job in America. That’s what they wanted for theirchildren to get a good education and find work to get a good job and work for otherpeople. That was deeply embedded and deeply planted in both the conscious andsubconscious mind of black people of my generation.

Now that is not what I taught my two sons 29 and 25. I taught them to get a goodeducation and to create a job. Create a job for themselves, to create a job for theirchildren and if God gives them the power and the glory to create work and jobs forour people that’s what they learned.

Therefore my two sons are very entrepreneurial and I’ve been blessed to have themwork within our company Frasernet and ultimately this company will be theircompany. So, that was the first thing to get over that. Get over the notion that wehave to get a good education to get a good job. Get an education to create a job.That is the first and most important thing.

The second thing that I had to over come because I left a six figure corporate jobwith the velvet handcuffs of retirement, health insurance, vacations. Theinfrastructure of support did not require me to taking money out of my pocket. Anytime I managed something for Procter & Gamble all I had to do was make a phonecall and the money was there to do the work.



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I had to overcome self-doubt and most black people have to overcome self-doubt.Can I really do this? Am I capable of managing and meeting, starting, and thinkingabout building a business? That’s huge it’s easy to say Bro. Bedford. This is very,very hard to do. Self-doubt, because the influences that we have around us meaningour friends, our colleagues, our peers, people that we work for continue to feed thatself doubt when they tell you man you have a good job you’re working for Procter &Gamble, you’re working for Ford or you’re working for the United Way and so thatfeeds the self doubt and it builds a callous to giving that up and venturing out onyour own.

Next, I had to overcome this whole idea of being risk adverse. Black people arerisk adverse. We’re risk adverse because, those of my generation, we are the firstgeneration to really have anything, to have some disposable income as a resultbeing middle class. We use that disposable income to buy a home, to buy stereos, tobuy entertainment and so we don’t want to risk that. We finally have something andwe protect it and we don’t want to give it up and we don’t want to put what wehave our home, or our nice car or our nice furnishings, we don’t want to put that atrisk by cutting off a stream of income from the man, from the job that might putthat in jeopardy so we are risk adverse.

So we have to overcome the fact that, if we were able to do the work that we aredoing for others to achieve and to attain the tangible things, that we can also workas hard as we work for others if we apply the same work and effort to our ownselves that we can also achieve the same if not more for ourselves.

Now this is related to the 3rd obstacle that we have around entrepreneurship andthat is the scarcity mentality verses the abundance mentality. So we have ascarcity mentality. We tend to think that the number of opportunities or the breadthof opportunities for us is limited. Therefore this opportunity to have this great job ifwe give it up will not be able to find another great job or if we go into this businesswe will not be able to find another business.

So we have this scarcity mentality and really we should have an abundancementality, because God has made enough for everyone. I tell people all the timewhen I speak Bro. Bedford that we do not lack opportunity as black people inAmerica we lack capacity that’s the key difference. There is unlimited opportunityfor black people in America. Unlimited opportunity we just have to build thecapacity to seize that opportunity.

Now how do we know that there is unlimited opportunity? Go into any urban centerin America where businesses were closed because we decided that we didn’t want todo those business and other immigrant groups come into our community open upthe convenience stores open up the cleaners open up the franchise McDonalds,Burger King, Church’s and they do good business.



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They employee themselves, they are 100% of their economic base. They then takeour money back to their community because they do not live in our community andthen they spend our money with their people in their community, educating theirchildren.

So there is unlimited opportunity it doesn’t matter what it is that you want to do. Itis there for you to do it if you prepare yourself. If you get over self-doubt and if youget over this risk aversion that we have and place your bet, put your money on thetable place your bet, do your homework gain some knowledge.

Even if you have to work in the business yourself for free as a volunteer, which I didin order to learn my business. I worked in the event planning business. I worked asvolunteer raising money talking to sponsors for volunteer initiatives like UNCF andlearned how to conduct my business. So we have to get over this scarcity mentality.

The 4th obstacle that we have to get over, this is heavy duty, I’m going to saysomething that might be a bit controversial, but I think its real based on my 20years of observation of black folk. And that is our fear of asking questions. Wewon’t ask questions, we think that if we ask questions we look stupid or unprepared.Well I will say to brothers & sisters you’re stupid if you are not asking questions.

We have to get over this notion of asking people for help and asking questions andtaking notes and doing the training and the work necessary to prepare ourselves togo into business. In fact the sign of an intelligent man or woman, is that they areasking questions. Now the key is who are you asking the questions of?

Hopefully you are asking the questions of people who are engaged in the businessthat you would like to be engaged in. In fact there is nobody in any business inAmerica that owns that business all by themselves in a vacuum.

There is no one who has the monopoly on anything in the country. So whateverbusiness you think you want to go into whatever idea, unique idea you may thinkthat you have. I promise you there are at least 50 other people in the business sohow do you get close to the person in that business?

How do you learn from that person? Because there is enough business, I don’t carewhat category it is for everybody. The way you get closer to the person in thatbusiness that you want to do is, find a way to serve them, find a way to add valueto what they are doing, find a way to help make them wealthy doing what they aredoing and then they will give you the keys to open the door to that particularopportunity and then you will be able to go into that door and expand thatopportunity.



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That’s what we have to do and that’s where we should be asking questions. Askingquestions of people who are already doing what you want to do. You don’t have toreinvent the wheel. There are no secrets in America anything you want to knowabout anything could be found in a book, could be found on a CD, could be found inthe person who is already actively engaged in doing that business, so we have toget over asking questions.

So what are the 4 or 5 big things?

1) Get over self-doubt.

2) Get over this whole notion of being risk adverse and take some risk, but do itintelligently, do your research.

3) Get over this idea of a scarcity mentality and understand that there is anabundance out here.

4) Get over this idea to get a good education to get good job. No get a goodeducation to create a job.

5) Get over this idea that you don’t want to ask questions because you don’t want tolook stupid. No you’re stupid if you are not asking questions.

If you get over those things, those are the greatest challenges or obstacle that mostaspiring entrepreneurs have to deal with in the quiet of their own mind, in the quietof their own space and pump themselves up and begin taking action.

Bro. Bedford: That was great I really appreciate that. There is something that youmentioned there this fear of asking questions. To my subscribers some of them arenew some have established businesses, but are struggling somewhat and I alwaysadvise through the subscription base that you should always look for a model thatyou can model your business after and not be ashamed to model your business afterthem, so when you said the fear of asking questions that is really something that I’ma big promoter of, going to those who are successful and doing what you areattempting to do.

George Fraser: That’s right if you go to people who are successful and do whatthey do that’s why they’re successful. They will not hesitate to tell you what theydo. By the way anyone that is hesitant to tell you what they do they are not reallythat successful. Because there are no secrets in America successful people arealways looking to help other people to become successful. This is why they arereally successful.

We are not talking about corporate secrets and we are not talking about someonegiving you their recipe for their hot sauce. No have your own recipe for your own



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hot sauce but they will tell you how to get out here and promote your secret recipehot sauce. There are no secrets ask them and they will tell you because successfulpeople understand the purpose of life to be successful.

The purpose of life is very simple Bro. Bedford. It is to love, to give, to serve, and toadd value to someone or something. Successful people understand that and they areready, willing, and able to do that and that’s why they are successful. If they are notthey will not be successful. That is how God has designed the system.

Bro. Bedford: Can you explain the importance of effective networking and whyevery entrepreneur must learn to network?

George Fraser: Yes, There are a number of reasons. To transcend frommanagement to leadership, when you own a business you are in effect becoming aleader. You have to have good management skills certainly to grow that business, togrow the people who will help you to build that business, to grow your team so youneed good management skills.

But ultimately as a small business you need great leadership skills so that means youhave to transcend just good operational skills and analytical skills which is problemsolving. To having good relationship building skills, relational skills that all requiresgood networking skills.

If you do not have good relational skills or relationship building skills you cannottransition from a manger to a leader you can’t, you just cannot do it. If by accidentsomeone anoints you or you appoint yourself, as a leader to help build a team youwill not succeed as a leader with out having good relationship building skills, withouthaving superior interpersonal skills and people skills.

The ability to lead and to follow, the ability to build a team and to be a part of ateam, the ability to cultivate, nurture and develop relationships at work, at homeand in the community. The ability to love and to like people and to have people tolove and like you. You have to have those skills, those good working skills in orderto grow your business. There is no business that I know of where you can succeedat on your own by yourself in a vacuum.

You have customers so you need good relationship building skills with yourcustomer. You have suppliers you need good personal and relationship building skillswith your suppliers. Ultimately you will have an employee or 2 or 3 or 100 you needgood interpersonal and people skills or networking skills in order to build that. Youmay need sponsors, you may need investors, so there is a whole myriad of peoplethat you will need on your team to grow your business.

Thus it requires great interpersonal and people building skills, great networking skillsand those who are best at that will be the most successful. The reason I am



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successful is not because I am so bright. It is because of the one skill that I talkedabout earlier, that is I developed superior interpersonal and people skills. And that iswhy I have succeeded. So if I can do it anybody can do it. But I recognized that wasthe thing that had to happen in my life in order for me to magnify, grow, and tobuild my business.

My business started out with just George and now its George and 12 other peopleand all of those people who started with me are still with me. That says somethingabout how I handle and manage those people. How I nurtured them, how they werefulfilled and through building they were provided the things they needed to providein their own lives.

That’s what we look for, relationship building skills, networking skills are absolutely,critically important because you can’t succeed at the highest levels in Americawithout them, and it is just not possible.

Not only that, relationship-building skills help you to fully realize your potential. Eachof us have unlimited potential. How do we know that? Because we would not bealive if you did not have or God did not plant the seed in you for unlimited potential,but we know that the greatest enemy of potential is success. Why? Because youcan build on success but you can’t rest on it. If you do you become fat, happy, andstupid. We know life is hard, but it’s really hard if you’re stupid.

So what am I saying, each of us must prepare for success, you have to strive forsuccess, you must achieve success, you must celebrate our success, and then wehave to forget about it and then live your full human potential. We get a littlesuccess here or there and we wallow in that to often, live on that, feed on thatlonger than we should be feeding on that and we are ignoring the potential that wehave. Because we are not magnifying that, we are not multiplying that success, weare not building systems that will enable us to create revenues and dollars to employour people. We are not doing that because we have not honed or developed ourpeople skills, our networking skills.

So it is critical, critically important and this is what the book, Success Runs In OurRace talks about in great detail. Yes, it is a great book on networking but for thosewho have read the book you know that for the first half of the book I talk aboutnetworking in black America from a historical, moral, spiritual, African centeredperspective.

The Spirit of Networking has been going on in our community that a lot of peoplediscount or don’t understand and have not conceptualized how networking, we werenot calling it networking back in the day, but that what was going on. So we have tohave some perspective around what has enabled us to achieve what we have beenable to achieve in spite of the fact that America kept its foot on our necks for 350years we still over came and rose like the Phoenix. How did that happen?



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What did the most successful of our people, in spite of the oppressive conditions,what did they understand and what did they do and how did they do it to enablethem in spite of the circumstances the ability to go to school, to be educated as weare able to be educated. It was against the law at one point in time to even read abook. How did they do it?

There is a rich history of very effective networking whether it was the Black Church,whether it was the black fraternities or sororities, those were networks. Those werelike-minded people coming together helping each other, serving each other, findingopportunity for each other, supporting each other and lifting each other up. Thosewere networks. That’s really what they were.

So, let me just recap for a second. To be a leader is to understand that you musttranscend being good at just functional and analytical skills. You must performrelational task that enable you to create a fabric of personal contact that providessupport, feedback, insight, resources, and information that’s called networking Bro.Bedford.

Leaders understand that the alternative to effective networking is to fail. You simplywill not reach a leadership position or you will not succeed at leadership withouteffective networking skills. Leaders are great networkers and can effectively workwith a diverse array of people. We all must become leaders in our own special way.

Bro. Bedford: That’s powerful. The next thing I want to ask because you reallytriggered something while you were speaking. You were talking about this being acycle of not being complacent, reaching a certain level of success than you getcomplacent then that causes us to not really realize our full potential so weconstantly have to be in this cycle of improving ourselves and going to the nextlevel. By you saying that, I want to ask you, in your second book you talked aboutthe 10 best business opportunities for blacks in America. I look every day in thepaper and I see the different type of industries that are closing down, andoutsourcing.

What is it that you see that gives us the best opportunity for blacks in business,especially considering the way that technology has advanced and has allowed us tohave home offices now. Where do you see opportunity for black people as it relatesto entrepreneurship in the future?

George Fraser: My second book Race For Success The 10 Best BusinessOpportunities for Blacks in America was written almost 10 years ago. What I saw adecade ago is still relevant today. If we act on these 10 best business opportunitiesit would enable us to do two things, to make a profit and to make a difference.To do well while doing good. In other words we have to kill two birds with onestone. We must do well and we must make a profit so that we can make a



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difference. You’ll notice I said profit first, I didn’t say make a difference. Becauseyou can’t make a difference in a market-based economy, in a democratic capitalisticsociety where the only color that really matters Bro. Bedford is green. That’s theonly color that really matters.

Slavery was all about money it was all about economics. You cannot make adifference in America without making money. We must make money. Our Jewishbrothers and sisters understand that, our Asian brothers and sisters understand that.We must make money and then we can write checks to began the process of solvingour problems. Because everything is about money and leadership, money andleadership.

Now why do I put it in that order because we know that money in the hands of theunrighteous will do unrighteous things? Money in the hands of the righteous will dorighteous things. But first let us put some money in the hands of the righteous.Which means we have to make a profit.

Let me say that another way. At the end of the day when we finish pontificatingadnauseam about our issues somebody has got to write a check. Our Jewishbrothers and sisters can write a check, our Asian brothers and sisters can write acheck, our Arab brothers and sisters whether we agree with them or not can write acheck. We can’t write a check.

Now we can organize, we can plan, we can lay out an agenda and then we musttake our agenda to someone else and say, “excuse me sir would you write a check,so that we can do this.” And then they have the opportunity to say, “maybe I willmaybe I won’t. I might write a check if you change that rule over there to my liking,if you do this instead of that. Now when you do that Bro. Bedford I might considerwriting a check.” Then it becomes their agenda and not ours.

Because it applies to the very simple golden rule right “those with the gold rule”.

Bro. Bedford if you’re writing a check for something or someone your hard earnedmoney and when it comes to you, you are going to want to agree with what thatagenda is would you not?

Bro. Bedford: Right

George Fraser: If you don’t agree with that agenda you are not giving to write acheck. So that’s basic common sense. So Money!

So where are the areas that we can do well while doing good and make a profit tomake a difference.



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1). The area of education. We need more black owned private schools. Moresmall businesses are needed who are suppliers of a variety of products and servicesneeded in the $800 billion dollar education system in America, one of the largestindustries. And this would be especially true for urban education where 80% of ourchildren are…well that’s a whole another story. That system is really improperlyeducating our children.

But there is money being generated, billions and billions and billions of dollars.Question becomes how much of those billion of dollars. There are products andservices that are being purchased, what percentage of those product and servicesfrom pencils, paper, milk, cookies, juice, training what percentage of the dollars thatare being generated in the educational system in America today go to black ownedbusiness? What percentage of the teachers, the Professors, the people who aredoing the training in those systems and getting paid for that, What percentage ofthose dollars are being recycled back to our people?

We need more black teachers in our urban schools. Certainly, we need more blackmales. If you want to look at what are the job opportunities? Well, there are hugenumbers of opportunities in the areas of education, training, coaching.

We have a whole generation of young brothers and sisters who are professionalswho need coaching and training. We have a whole generation or two of us that havebeen privileged with the opportunity to climb the corporate ladder and to learn.Well God didn’t give you that information and that knowledge just for you. How areyou packaging that up? Monetizing it and giving it back to our community where wehave a whole generation of people that are in an economically illiterate state.

So if you know information about money, if you know information about finance,about Real Estate, about credit, well then you need to bring that knowledge whetheryou’re in your church or your fraternity or your sorority at night, on the weekendsand train our people with the knowledge that you have gained. And you canmonetize that.

You can write books. What have I done with my knowledge I’ve written books, I’veput on training sessions, I’ve monetized it. I’ve turned it into multiple streams ofincome.

So, the whole area of education and training in our community, 50 years ago wecould’ve said that we didn’t have the expertise, we didn’t have knowledge, we didn’thave the experience, we didn’t have the wisdom. Well that is not true today. Wehave millions of us that have gotten that knowledge because of the sacrifice that 10generations made to open these doors. So we now have this knowledge, we have tobring it back and reinvest this knowledge back into our community and that can bemonetized and that is a huge business opportunity, education. It’s a place wherewe can do well while doing good. That’s opportunity number one.



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2.) Is in the area of financing and banking. We need more black folks who areskilled in money management, in investment strategies that can advise and train themasses of our people. We are an economically illiterate people. Now fifty yearsago, we didn’t have any black folks who were members of the New York StockExchange. We didn’t have any black folks in investment banking and finance.Today we do. We have black folks that graduated from Ivy League schools, workingon Wall Street making millions of dollars working at all the financial companies andgetting all kinds of training on how to manage your money.

We have black folks who have the ability at all levels of the banking world. We canstart and build banks because we know how to do that because we got the training;we’ve got millions of dollars. So there’s a huge opportunity in the area of financeand banking; whether you’re looking at it from an employment standpoint or anentrepreneurial standpoint. There’s a huge area of opportunity.

3.) We touched on it; small business development: in general is needed toinclude neighborhood services, franchising, travel and leisure, multi-level marketing.There are unlimited small business opportunities. Like I said, we do not lackopportunity, we lack capacity. We have to get over some of the problems that wehave in thinking about growing small businesses in our communities. There arehuge opportunities right in your own neighborhoods.

4.) Is in the area of technology. We must become creators of computer &software and become Internet content & service providers. I don‘t even want tobegin to tell you what’s happening in the world of digital technology. Everything ismoving fast in that direction. Everything is going in direction of digital technology.Everything will be downloaded into hand held devices. Everything from music toentertainment, to book and CD’s, and tapes and speaking and poetry, thedistribution system is completely evolving and changing in the world of music andentertainment.

There’s unlimited opportunity in the world of technology and everyday we pick upthe business section of the newspaper, and we see new white people makingmillions of dollars dabbling in the world of technology; starting internet businessesand selling those businesses a year or two later for five hundred to six hundredmillion dollars. Why are black people not doing this, as creative as we are?

More people have become wealthy because of real estate than any single entity inthe history of the world. I think the second way to wealth today is throughtechnology. Look at the wealth that is created through the understanding and thepackaging of the myriad of ways technology has affected our lives. Technology is ahuge area opportunity.

5.) Is in the area of publishing. We want and must write and publish morebooks, magazines and newspapers for us to have a greater control of our minority



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images, of black images, words, pictures that inspire us and not stereotype or limitus. We must control our own imagery.

With the ease of self-publishing today, whether you want to tell your story which isan inspiring story or you want to give people information, training and knowledgethat God has gifted you with, today you can self-publish and publish books for reallypennies on the dollar. The world of publishing is wide open. We have to begin tocontrol our own images and publish them. And more black people are doing that.It’s a huge area of opportunity.

6.) Would be engaging in real estate development that fosters the rebuildingof urban neighborhoods. That’s $20 trillion dollars over the next twenty years torebuild urban neighborhoods and infrastructure. Black folks must financiallyparticipate in that expenditure, okay. We cannot allow our urban centers to beregentrified and all we end up with at the end of 20 years and $20 trillion dollars isto be a renter. That is what we used to be. We must move from being consumersand renters to being owners and savers.

It’s critically important that we get involved in real estate development, minimally inour neighborhoods which are being regentrified which means black folks are beingmoved out, the cost of housing is increasing because it’s close to downtown, theseurban centers; it’s close to communication cores; it’s close to the transportation hub;so these are very desirable places for others to develop and then we’re just movedout.

We cannot allow that to happen. We see it happening in Harlem. We see ithappening in Brooklyn, NY. We see it happening in Philadelphia. We see ithappening in Los Angeles. Every place where we have traditionally been, other folkare now claiming those areas, increasing the value of those properties and we’relosing out. It’s a huge area of opportunity to engage in real estate development andso we really, really, really have to fix that, another huge area of opportunity.

7.) We have to leverage entertainment and music which is a traditional andunique strength that black people have but we must include ownership anddistribution of our creative output. This is the key, ownership and distribution. Notlike the old school groups back in the day, we’re the creative force, we created themusic, but other people owned 95% of the publishing and controlled the distributionof it okay.

Only a few of our artist like James Brown were smart enough to say, no, no, no, Iown all of my stuff as well as Ray Charles. He owned his own production. He ownedhis own work. We are a creative force when it comes to entertainment and music.In America, we created the only original music forms in America brought to theworld, through Jazz. We created Rock-n-Roll, we created Rhythm and Blues, andwe created Hip Hop. I don’t even want to begin to tell you the billions and billions



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of dollars that have been generated because of those music forms over the lastseventy-five years that we own very little of. We need to fix that in the 21st century.

8.) Would be to leverage sports, but not just as talent. We don’t want to be 20million dollars slaves okay. You see if I’m Shaq, and you can pay me $20 milliondollars a year to play on your basketball team; how much are you making? We haveto own the teams, not just be the talent on the team. We have to be the agentsand the skilled craftsmen and technicians. That’s how we need to leverage sports.We have to be owners and agents. We have to recycle the hundreds of millionsdollars from these salaries that our athletes earn back into our communities byencouraging them to use black agents; to use black lawyers; to use blackaccountants; to buy their cars from black dealers; to buy their insurance from blackagents. They’re not doing that.

There’s a huge opportunity to leverage sports, not just the talent, but as owners,agents and recycling those dollars.

9.) Is health care, the biggest industry in America, by developing more smallbusinesses that service the biggest industry in America and one that has enormousimpact on black folks and is currently undergoing great upheaval and change. Iknow several multi-millionaires that look like us that are engaged in Healthcare.

That is a huge business, huge opportunity and we need to get engaged, not just asphysicians and dentists, but also as business owners. As the whole healthcareindustry is going to readjust and come out with new programs and plans to makehealthcare more affordable. All of the ancillary and side businesses that will developout of this quantum change is going to happen in America; in the area ofhealthcare and that is going to happen in the next generation or two.

10.) And the final one is global commerce forming new business alliances inAfrica, South America, the Caribbean and China. It’s a huge opportunity in all ofthose areas. If you visited Africa recently, you will notice that the Chinese are allover Africa. There are as many Chinese in Africa as there are Japanese in Hawaii.What are they doing in Africa? They’re building infrastructure for these Africancountries so they can have access to oil. China needs oil to grow, so they’reinvesting and building infrastructure in our African countries so they can have firstdibs on the oil.

We have to get into China, we have to get into Africa, we have to build strategicalliances and do joint ventures and partnership in the Caribbean and in SouthAmerica. So there are huge opportunities for those who are engaged in internationalbusiness.



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Those I believe are the ten best business opportunities for Blacks in America and wehave a lot of work to do, but it’s plenty of opportunity. It goes back to what I saidearlier, we are not lacking opportunity, we are lacking capacity.

Bro Bedford: As we get ready to wind down here Mr. Fraser, one last question. Ihear how your passion comes through when speaking on our plight and how wemust move forward to accomplish these things. That leads to my last question foryou. What is the chief trait or characteristic you think is critical for us to achievethis entrepreneurial success on all of the endeavors that you just mentioned? Whatis the chief trait or characteristic that you think one must have in order to goforward?

George Fraser: That goes to a mantra that I ask every time I go and speak aroundthe country about 125 times per year. I ask my audience to repeat after me withenthusiasm and that mantra goes “It’s not about me, it’s about we. It takesteamwork to make the dream work; we have the timber, let us build”. Sothe core requirement, the chief asset, the critical mindset that we as black peoplemust have in the 21st century is one of connecting the dots. Networking, gettingtogether to get ahead that is the core, core trait.

Because you see, we have everything we need to succeed freedom, civil rights,voting rights and public access. We have a $790 billion dollar annual economy, if wewere a nation, we’d be the 10th richest nation in the entire world. We have fivetrillion dollars worth of intellectual capital from just one generation, the babyboomer generation, and we have nine million of us 66% of the black work force thatare doing okay that are in executive managerial, supervisory, professional,vocational, technical, administrative, sales and different type of positions. So wehave everything to succeed except each other.

We must now internalize God’s vision for black people and the way this vision worksis to first understand that there are three phases to development of any people.First there is dependence, let’s call that slavery. Then there is independence, let’scall that freedom and the final stage, the most sophisticated and critical phase thatwe must reach in the 21st century is interdependence-that is the highest form ofcultural development.

Jewish people understand this; Asian people understand this; Arab peopleunderstand this. Interdependence! We must believe and we must begin to thinkinterdependently and connect the dots so that we can leverage our tremendousresources and intellectual capital and take our people into the 21st century.

If you had a sheet of dots that could represent beautiful educated and moneyedblack people all over America. It could also represent black churches and it couldalso represent black institutions. But if you look at that sheet of dots, you’ll noticethat there is no power there because we have everybody doing their own thing.



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Caught up in a Euro centric value of rugged individualism. There is no power inrugged individualism, the power is in understanding that beautiful African proverbthat says, “it takes a village to raise a child”. Also there’s another beautiful Africanproverb, it says, “When spiders unite, they can tie up a lion”. This is where we mustgo in the 21st century.

This means we must get beyond this Willie Lynch Syndrome which still effects tomany black people, not all, but too many. This crabs in the barrel mentality thisnegative self-imagery and self-hatred, with deep belief that the white man’s ice iscolder and that the white man’s sugar is sweeter. We have much work to do onourselves, but we have the tools, we have the knowledge, we have the people.

We have a plan, we’ve laid out, and the objective is simple. The objective is that inthe 21st century, Bro. Bedford black people must become the number one employerof black people. Black people must become the number one employer of blackpeople.

To do that we must act on six simple goals and then someone has to provide uswith tools to help us achieve those goals. We can talk about those goals and toolsat another time. The vision again, the vision and the objective is not complicated,black people must become the number one employer of black people in the 21st

century. Jewish people are the number one employers of Jewish people. Asians arethe number one employers of Asians. Arabs are the number one employer of Arabs.We must do that for our people.

Bro. Bedford: You’ve given us quite a bit to really think over, study and really tryto move forward to bring this into reality. If someone wants to get in contact withyou or to purchase both of these monumental books where should they go or howshould they contact you?

George Fraser: Sure, they can just go right to our website, www.frasernet.com.Everything you want to know about FraserNet, our twenty-year-old organization, ifyou want to become a member, there’s information on how to become a member.If you want to buy the books, CD’s and tapes all the information is there. If youwant to attend our annual conference in Atlanta, all the information is there. If youwant to attend any of our quarterly business meetings, in eleven different citiesaround the country all the information is right there. All dates, times and places ofthose meetings are free and open to the public. They are business meetingstherefore business attire is required.

Bro. Bedford: Great, I’ll be reaching out to your Detroit Director, Donna McClungthis week to see what I can do to help with your visit here. I want to be apart ofthat so I’m looking forward to meeting you Mr. Fraser.

http://www.fraziernet.com/



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George Fraser: God Bless you. Keep doing God’s work. And remember, it takesteamwork to make the dream work.

Bro. Bedford: Yes. Thank you very much Mr. Fraser for your time.

George Fraser: Thank you so much.

Bro. Bedford: Bye now.

George Fraser: Bye-bye.



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Conversation with Randal Pinkett

Bro. Bedford: This is Bro. Bedford from How To Be A Black Entrepreneur.com.Joining me today in conversation is Dr. Randal Pinkett. Many of us know him as thewinner of the forth season of the NBC hit reality TV show with Donald Trump TheApprentice. Dr. Pinkett has established himself as an entrepreneur, speaker, author,scholar and community servant. He is the Co-Founder, President and CEO of BCTPartners. A multimillion-dollar management, technology and policy consulting firmbased in Newark, NJ.

He’s a sought after public speaker for corporate youth and community groups. Dr.Pinkett has been featured in Black Enterprise and Ebony as one the 30 LeadersUnder 30 issue. He’s been featured in Parade Magazine, New York Times and theBoston Globe. He’s also appeared in segments on BET and CNN. I would adviseeveryone to go his website www.randalpinkett.com, to see the list of his businessaccolades, his business ventures and this list of his academic accomplishments.

Today, I want to thank you for joining us, the author of Campus CEO, Dr. RandalPinkett. Dr. Pinkett thank you sir for joining us today.

Randal Pinkett: Thank you Bro. Bedford, it’s great to be on the program. Thanksfor having me on.

Bro Bedford: Yes, sir. I want to get right to it because I know you have a veryhectic schedule and there’s a lot of things I know that my subscribers and listenerswant to learn from you. But first could you first tell us about your experience onThe Apprentice?

Randal Pinkett: Absolutely! It was a great experience being on The Apprentice.I was the forth season winner of the show which was the end of 2005. I spent theyear 2006 working with the Trump Organization. I took a leave of absence from myfirm BCT Partners and I’m very excited to return to BCT full time in 2007. I havemaintained a consulting relationship with the Trump Organization. The relationshippersists but I’m now able to apply the learning’s that I was able to glean fromhaving been both on the show and also having a chance to shadow Donald Trump.

Bro Bedford: That’s interesting you mentioned that because many of us know youas the winner of The Apprentice of the forth season but many of us didn’t actuallyknow you had already started your own company and that you were a successfulentrepreneur prior to The Apprentice. So could you tell us how you got your start asan entrepreneur?

Randal Pinkett: Absolutely. Well, interestingly you could argue that my start asan entrepreneur began in childhood. Where I opened a lemonade stand and sellingmy own toys and a variety of other enterprising activities when I was very young.

http://www.randallpinkett.com/



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But I got my first start officially in business when I was in college. My two collegeroommates, Jeff Robinson and Aldmon Porter, opened a compact disk store out ofour dormitory and combined that with an education and training operation as well.We actually grew that to a six-figure enterprise within about seven years. I’ve beenin and out the entrepreneurial arena all of my life but it was college where I got myfirst break.

Bro Bedford: What were some of the major challenges that you faced becausethere are some things you point out in campus CEO that we want to talk on a littlelatter. But what were some of the major challenges that you faced with your start-ups as an entrepreneur?

Randal Pinkett: Well, I faced some of the same challenges that manyentrepreneurs face. Like lack of financial capital, trying to build relationships thatcould lead to opportunity. A lot of what I’ve learned about business is that it’s reallybased on relationships and being out there and networking with people. Whenyou’re just getting started, as was the case with us we were still trying to establish atrack record and establish credibility.

So, I know for us our first, well across from the two companies that I would considermy two major undertakings. One being the education and training company, ourfirst big break just came through some might say serendipity where we were outdoing pro bono work in high schools and a young lady went home and told hermother about us and her mother happened to be an executive at a large non-profit.To make a long story short, she hired us for our first big contract.

For BCT Partners, which is a consulting firm, one of the areas that we specialized inis Information Technology. Our first big contract for BCT was with our church andwhen I say our, I’m referring to three of the four founding partners. We all attendFirst Baptist Church in New Jersey and the church gave us our first opportunity to doa major project. They knew us, they believed in us and they bet on us. From therewe were able to use that project as an example and a reference point for going afterprojects thereafter.

Those are both examples of when preparation meets opportunity and that it couldlead to success.

Bro Bedford: What would you say was the key to your preparation for overcomingthose challenges? A lot of the subscribers that we have are new entrepreneurs andthere are some seasoned entrepreneurs who I get a lot of emails continuouslyasking how do I get over this obstacle, or how do I overcome this problem or thischallenge. What was the key to you being able to overcome some of those majorhurdles?



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Randal Pinkett: I think the key for me has been really having a strong team andsurrounding myself with individuals who are like-minded, who are similarlycommitted and equally talented. In fact, the three gentlemen who helped toestablish that compact disc store remain as my business partners to this day. Mr.Lawrence Hibbert, Jeff Robinson and Dallas Grundy are gentlemen that I went tocollege with at Rutgers and they’re still owners in BCT Partner until this day.

Just having those men around me as a support mechanism and motivator and justbeing able to create collective positive energy to withstand the challenges and thehurdles and the obstacles that came at us. I could not imagine doing it alone. I justcould not imagine doing it by myself.

Bro. Bedford: Right I see. Now if you were to advise someone who wasinterested in starting a business, of course I think the first thing I would tell them isgo and get Campus CEO. But if you want to advise someone, a new person, andthey wanted to get your advice on starting up a business, what would be the firststep they should take?

Randal Pinkett: Interestingly for me, the first step of getting into business isactually looking within one’s self and taking the time to really, really reflect on whatit is that you’re passionate about. What is it that you love to do and that you wouldwant to do whether you got paid for it or not. That introspection to me is the firstand most important step. Now that’s not to suggest that everyone’s passionnecessarily directly translates into an entrepreneurial opportunity.

But it’s the beginning of the conversation. I think that the subsequent topics ofconversations are what you are good at. It’s one thing to be passionate aboutsomething and it’s another thing to be good at something. Third, what is yourcapacity? Meaning what kind of money, what kind of relationships, what kind ofknowledge and what kind of insight do you have to different areas? And then lastbut not least, what does the market suggest is a viable opportunity.

Because I could be passionate about fast food and I could be great at fast food andI could have the capacity to start a fast food operation but I might look at myneighborhood and say that that’s saturated. There are no opportunities there. Themarket is the last factor that you have to consider. You have to say where is theresomething new and innovative that I can capitalize off of.

Bro. Bedford: Right, right. That’s great advice. Great advice. Now as I’ve beenstudying your bio, I’ve been reading deeply and reading your material, Campus CEOand really reading your blog that you put out after there was this big world wind ofcontroversy surrounding your decision at the end of The Apprentice. You don’tcome off as a person who is a staunch competitor. You seem to work in a differentmode, kind of cooperatively as opposed to competitively. I know a lot of peopletook your decision at the end of The Apprentice as a competitive statement. But



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when I read your blog, it was really just a statement of you embracing the fact thatyou worked hard and you earned that position.

My question to you is do you see those as opposing mindsets when you have acompetitive mindset as opposed to a cooperative mindset?

Randal Pinkett: Well that’s a great question and I certainly appreciate you doingyour homework on my commentary, my blogging, and my opinion after the finale. Iwould echo much of what you said, before answering your question, which is thatindeed my statements at the finale were a confident and comfortable assertion ofthe fact that I believe that I earned the victory. I believe there was no reason tosuggest, nor to even ask that that title be shared because again, I worked very hardand more to the point that that question had never been posed before and quiteinterestingly has not been posed since.

But nonetheless, in terms of cooperative vs. competitive. I believe we live in daysand times where competition is a good thing and there will always be competition inbusiness. But it really depends on what your style and your approach to business isand how you choose to conduct yourself. I believe that you can actually besuccessful interestingly either through a competitive or a cooperative model. But itdoes beg the questions, which better aligns with your values and your principles.

I was an athlete in college, so I know what it actually means to compete at certainlevels and I compete everyday in business. As far as relationships are concerned,and I’m talking about business relationships, I looked at ways that we can make thepie bigger for everyone. As opposed to believing that for me to take more of thepie, means that you’ll have less.

Bro. Bedford: I like that. Instead of taking a slice of the pie, just make the piebigger. I really do like that that’s great! What was you’re motivation for writing abook such as Campus CEO, again which is a marvelous book. What was yourmotivation for writing this book?

Randal Pinket: My motivation for writing the book was first and foremost, wantingto pull together all of the information, resources, advice, tips and strategies that Iwould have wanted in my hands when I was first getting started in business. As youknow I started when I was a student. It is my attempt to give the next generationof entrepreneur’s, everything that they need in a single resource that they can, not

to just follow in my footsteps but exceed my own accomplishments as well as thoseof other entrepreneurs who started when they were students such as Bill Gates,Michael Dell or the guys from Google or Yahoo or even a Russell Simmons or a Sean“Diddy” Combs, who started when they were in school as well.



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It’s really me trying to bring all that information together and say this is what Iwould have wanted when I was getting started.

Bro. Bedford: Man, it’s funny that you said you wanted to bring all thatinformation together because it is a book that’s full of a wealth, a wealth ofinformation and knowledge. When you look at the title, you see Campus CEO, butoutside of the campus, every entrepreneur needs to know all of this information as itrelates to being a start up business or even a business that’s seasoned. I wanted toask you about two particular areas. How important is it for an entrepreneur tounderstand a business model. Many entrepreneurs want to start a business but theynever give serious thought to what type of business model they have or shouldhave. Could you expound on that a little bit?

Randal Pinkett: Absolutely, absolutely. The business model is something I talkabout in Campus CEO. In that chapter, I talk about the difference between vettingand understanding your model against your plan. The plan is what most people arefamiliar with which is the written document with all the marketing research and thecompetitive analysis and financial projections and the like. But the model reallydistills and describes how your company basically makes money.

It’s like thinking of a system, so for Amazon.com to make money, they’re able toadvertise through Internet channels that they have products and services available,people go to the site, they order, they fulfill that order and that’s when they maketheir money. That’s a model. When we did education and training, word of mouthwas one of our more powerful mechanisms for advertising. That led into decisionmakers who would procure our services. Then we would bring facilitators onsite todo workshops and we would get paid via invoicing. That was our model for makingmoney.

It’s interesting that you can tweak a model and you can study other models. Forinstance if you look at the Internet banner advertising was a model, subscriptions toa website was a model. Free access with a more advance content on a pay-per-access, that’s a model. So there are lots of different models to making money. It’sfiguring out what’s the best model for what you’re trying to do and being reallyinnovative and creative in approaching it.

Bro. Bedford: That leads into my next question, because I see that you’re verypassionate about technology. How important is it for today’s entrepreneur toembrace technology. I look at what you just said about the business model becauseI also find that a lot of today’s entrepreneurs, we kind of operate off of old business

models, kind of antiquated business models. How important is it for today’sentrepreneur to embrace technology and to incorporate that into a more up-to-datebusiness model?



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Randal Pinkett: Well I’ll say this. Embracing technology is required for today’sentrepreneur. I can’t imagine an entrepreneur, who endeavors to be successful inthe 21st century, that doesn’t embrace technology. That’s not just for entrepreneurswho choose to operate in the technology space, that’s for any entrepreneur. I don’tcare if you operate a retail operation, a restaurant or a website, technology is a toolthat can help you do what you do better.

In Campus CEO, I have a whole chapter called, “Gaining the Technology Edge”where I go through a whole list of free resources, and different websites and tools,technology tools that entrepreneurs can utilize to help them conduct business better.There was a lot of research that went into that chapter and a lot of really usefultools that are in there.

Bro. Bedford: Yes and that’s why that chapter in particular stuck out to me. Againwith a lot of the subscribers that I have, those are the questions that come up andsometimes I’m baffled at the fact that we will not embrace the newer technology asyou mentioned in the book that will help to make our operations become moreeffective. That was something that really stuck out to me and I really want to pointa lot of my subscribers to get the book and to really study that aspect of CampusCEO.

As we’re dealing with entrepreneurship, and I know that it is a trial and a strugglewith what I’ve tried to do with How To Be A Black Entrepreneur.com and I know allof the things that you’re doing. What is the most important trait or characteristicthat you think a person must have, if they are to achieve success as anentrepreneur?

Randal Pinkett: Without question the answer is perseverance. One of therecurring themes that I was able to walk away from writing Campus CEO as part ofthe process was interviewing entrepreneurs, particularly young entrepreneurs. Andone of the recurring themes throughout those engagements was just the idea thatno matter whom you are or what you’re looking to do, you’re going to run acrosschallenges, roadblocks, obstacles and hurdles. Failure is not falling down, failure isstaying down and not be willing to dust yourself off and get back up.

Anyone who believes or anyone who’s listening and believes that it is necessarilygoing to be an easy road, just take the time to talk to any entrepreneur, includingmyself and we’ll be the first to tell you that it’s not easy. There are no guarantees,but with the perseverance temperament, with a temperament of being able todemonstrate resilience and stick-to-itiveness as some might say. That’s the X factor,that’s what gets you over the hump.

Bro. Bedford: Now you also have another chapter and I guess it kind of links towhat you just mentioned about being able to persevere over all of these obstaclesand hurdles. Sometimes I run across entrepreneurs who tend to think mistakes are



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bad. You have a whole chapter about mistakes that every student entrepreneurmakes. Would it be safe to say that mistakes are unavoidable?

Randal Pinkett: Well I can’t go so far so unavoidable. I’ll say that they have notbeen unavoidable for me. And I have not come across to many entrepreneurs forwhom it’s been unavoidable for them either. Now I would have to believe thatthere’s someone out there, sitting in an office, you know counting their money thatjust had it easy. And you know it was all smooth sailing, but I would also argue thatif that person exists or those people exist, then they’re few and far between.

If success is what you desire, failure, generally speaking is unavoidable. It’s one ofthose things that you hope for the best and prepare for the worst.

Bro. Bedford: Yes sir that’s great advice, great advice. What’s next for Dr. Pinkett?I know you have Campus CEO, and I here about some things that you’re doingonline with competitions. Could you expound on that a little bit more to help mysubscribers to get a better grasp on what you’re doing with your new book andupcoming activities?

Randal Pinkett: Sure, Bro. Bedford. Basically this year, I’ll be really focused onbuilding BCT Partners and certainly promoting Campus CEO. I’m in the midst of mynational tour right now. Your listeners can go to www.campusceo.com to see whereI’ll be in the next weeks and months. Then beyond that I’ve got some other bookprojects that I’m working on. The next one that I’ll likely release is called, “BlackFaces in White Places”. That is a book as the name suggests that providesstrategies for people of color who find themselves as one of the few, if not the onlyperson of color in a predominately white environment. Be it a school or acorporation or for entrepreneurs at a boardroom table. How do you successfullynavigate those kinds of institutions and still maintain your identity.

Bro. Bedford: Wow that one sounds good; I can’t wait to get that book.

Randal Pinkett: Yeah, there’s a lot of good excitement around that one.

Bro. Bedford: Yeah I can’t wait. One of the things about this forum is that I’veinterviewed some great people and I could not complete this series without includingyou. I want you to know that not simply because you were on The Apprentice, butpretty much based upon what you just mentioned. The way you handled andconducted yourself, you didn’t show any form of intimidation in the boardroom. So,when you just talked about the book that you’re coming up with, I think a lot of theprocesses of business intimidates entrepreneurs. I look to you as an example toshow us that we can measure up and that we can compete on that type of level. SoI really appreciate you for that.

http://www.campusceo.com/



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What I want to ask you now is if there’s any other information that you would likeour subscribers to have, where they can contact you, where they can go and get thebook, how should they purchase the book; could you give them that informationnow?

Randal Pinkett: Absolutely, absolutely. For the listeners that are looking to findout about me or get a copy of Campus CEO, they can learn more about the book atwww.campusceo.com. If you’re listening and you’re an entrepreneur or you have ayoung person in your family or an entrepreneur in your family, an aspiringentrepreneur, then this book is perfect. I would suggest you go out and get it ASAP.Do not delay and do not be denied and go to www.campusceo.com and get a copy.

If you want to learn more about what I’m up to or where I’ll be speaking or just toget updated, you can go to: www.randalpinkett.com. Even there, there’s a contactRandal link, you can reach out to me and say hello or shout me out or let me knowwhat you’re up to in your neighborhood.

Bro. Bedford: That’s great. I really appreciate you Dr. Pinkett for giving us thisopportunity to take a peak inside of your life to really see what it takes to be asuccessful entrepreneur. I’m going to be encouraging all of my subscribers and newsubscribers as they come on to, of course not just go to the site, but to buy thebook and underline what they need, highlight it and utilize the book because it is aroad map that I believe would help a lot of us to overcome the hurdles that we’reexperiencing in our business.

I also mentioned to some of your helpers, that I’ve been getting a tremendousresponse from some of the interviews and we will be compiling the interviews in aformat to make it available to people so that they’ll always constantly have yourinformation in their face. I want to make sure that you are amplified because Ibelieve you’re a great example of what it is we can accomplish in entrepreneurship

Randal Pinkett: Oh, I appreciate that Bro. Bedford and congratulations to you oneverything you’re doing with the website and what you’re doing with this outlet. Iknow you’re equipping individuals with the tools and the inspiration that they needto take themselves to the next level. So you should be commended as well.

Bro. Bedford: Thank you very much and I will be reaching out to you too becauseI would love to bring you to Detroit, where we need some entrepreneurship goingon in Detroit. I know you’re very familiarly with what’s going on with the Big three,so you have a lot of people who are out of work, who haven’t looked atentrepreneurship as a viable option. I’m looking forward to hopefully bringing youto Detroit some time in the future.

Randal Pinkett: Sounds like a plan. Sounds like a plan, I’ll see you in Detroit.



http://www.randallpinkett.com/



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Bro. Bedford: All right, thanks a lot, I’ll talk with you soon.

Randal Pinkett: All right, Bro. Bedford thank you.

Bro. Bedford: Thank you, Dr. Pinkett. Bye.

Randal Pinkett: Bye.



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Conversation with Andrew Morrison

Bro. Bedford: This is Bro. Bedford from how To Be A Black Entrepreneur andjoining me today in conversation is a gentleman I truly admire. He has taken theart of being an entrepreneur and broken it down into individual parts and hasmade it easy to understand. Joining me today is Mr. Andrew Morrison.

Mr. Morrison is the founder of Small Business Camp-an entrepreneurial training,coaching and marketing services firm. The Company delivers an intensive 2-dayprogram that allows the participants to walk-in with just an idea and leave with amarketing plan, public relations strategy, money-making website, direct-mailcampaign and 90 days of follow-up coaching. In New York City, Andrew hosts aweekly show on 98.7 KISS-FM called, “Money Making Mondays” He is also anadjunct faculty member at New York University and the Fashion Institute ofTechnology.

Andrew built a multi-million dollar company by providing innovative directmarketing services to Fortune 500 companies. He was featured in the Wall StreetJournal, Entrepreneur Magazine, Crain’s Magazine 40 under 40 and AdvertisingAge. He also appeared as a “Young Millionaire” on the Oprah Winfrey show.

He is also the recipient of the prestigious Young Direct Marketer of the Yearaward and serves as a Deacon at the Abyssinian Baptist Church located in thevillage of Harlem. Aside from his church activities, he serves on the advisoryboard of Project Enterprise-a NYC based micro-lending organization. Andrewrecently completed his first book entitled, “21 questions that can Build Your

Business in 90 Days.” If you visit his site www.SmallbusinessCamp.comyou will be able to access all of the information about his other endeavors. Sowithout further delay thank you for joining us Andrew Morrison.

Andrew Morrison: Thank you so much Bro. Bedford for having me

Bro. Bedford: I’m just excited. You are truly one of the individuals that I look toas it relates to entrepreneurship. I look at you as a 21st Century or as I like tocall it an Information Age Entrepreneur. A lot of our people are not aware ofthese forms of marketing that you display, so I really look to you and I thank youfor giving us this time this morning.

Andrew Morrison: I really appreciate your comments but I want to remindeveryone that my success is really based on my pain. I’ve taught people thereason why I’m one of the smartest, baddest marketers on the planet is becauseI’ve lost a great deal of money doing it.

http://www.smallbusinesscamp.com/



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So often times your pain will help you to unlock your wisdom. And there issomeone out there reading these words right now who is either going throughtremendous pain or you’ve just been through some pain.

And I want you to begin to honor that pain. That pain is offering you a verypowerful lesson. Honor your pain but always choose peace and always takeaction.

Bro. Bedford: Thank you for those encouraging words. I know you have ahectic schedule. I don’t want to delay. Lets get into some questions, some meatythings.

First, how did you get your start as an Entrepreneur?

Andrew Morrison: Well, I always wanted to be an entrepreneur as a youngperson. I remember in High School my first entrepreneurial activity was withJunior Achievement and we sold hangers door to door.

We made these real nice hangers and we sold them door-to-door and I had avery bad stammering problem back then. So I would knock on somebody’s doorand I would start to stutter. I would start to stumble over my words and I wouldsimply point to the hanger.

They kind of felt sorry for me so they would buy this hanger from me anyway.

Then when I went to college I had a very incredible experience being the firstAfrican American president of our student union. We had approximately 7000white students on campus, only 200 minority students. And I achieved a greatmilestone.

And that really showed me how whatever you think about and focus on you canreally begin to achieve.

Right out of college I started my first company, which was a direct marketingfirm, and I must give credit to the Black Expo USA. Because they were my firstclient and I helped them build a data base of participants of Black Expos and thatshowed me the power of developing data bases and being able to market tothem effectively as well.

Bro. Bedford: Now you say you started right out of college and The Black Expowas your first client, how did that lead to other contracts that eventually put youon the Oprah Winfrey show?



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Andrew Morrison: My favorite quote comes from Booker T. Washington thewizard of Tuskegee.

Booker T. said, “Success leaves footprints”.

Someone needs to right that down. “Success leaves footprints”.

At that time I was working at night basically as a typist building my businessduring the day and I was probably doing $50-$75,000 a year at the same timeworking at night.

Then I wanted to know what were other successful companies doing to buildtheir businesses. This is why it is so important for you to begin to joinorganizations.

I joined the Direct Marketing Association. This is an international organizationwith thousands of members and I got to hang out and talk with other CEOs ofDirect Marketing companies.

Back then I’m making less than $100,000 a year struggling, working at nighttrying to build a business during the day. And now I have mentors, other CEOswho tell me to develop marketing promotions around very particular seasons andmake your mailing program much larger.

So I went from $100,000 a year to over $3 million dollars in sales by doing asimple concept. Mailing during key promotional periods to more andmore people. And so I began to develop data base marketing campaigns thatwould occur during Black History Month; that would occur during a holidayseason; that would occur during Mother’s Day.

And by doing so brand managers came to me knowing I was developing atargeted promotion during their key advertising seasons as well.

So there is a lesson here; it is to find somebody who has gone ahead ofyou.

I study martial arts and in martial arts, the word sensei, it doesn’t really meanteacher. Your sensei is someone who has gone ahead of you. And so you wantto find someone who has gone ahead of you and they then can support you andhelp you move to the next level as well.

Bro. Bedford: That lead to you eventually being on the Oprah Winfrey show.What type of experience was that getting and being on Oprah?



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Andrew Morrison: It’s amazing how so many people often tell me “ I want tobe on Oprah”. OK there is a process. And I want you to understand that Oprahis looking for you.

STOP looking for Oprah, she is looking for you.

She has 5 people working full time and I’m not exaggerating. 5 people workingfull time 9 am to 9 pm looking for you. Going through magazines, watchingtelevision to find you.

No one can find you because you’re not packaged properly.

You’re so focused on your content you don’t understand the power of thecontext of your content. Move from your content, what you do and wrap it in adifferent context.

By wrapping it in a different context then people can begin to get you. ThenOprah’s 5 full time staff people will then be able to find you.

Let me kind of tell you what I did to allow Oprah to find me. I wasn’t looking forher she found me.

Here is the first thing I want you to do. I want you to find a trade magazine foryour industry. Whatever industry you’re in I guarantee you there is a monthly orweekly trade publication.

In my industry, direct marketing, in was DM News. It is best to find a publicationthat comes out every single week. Why? Because they are always looking forcontent.

My first PR hit was when I wrote an article about direct marketing to AfricanAmericans for DM News. Once I wrote that article, it’s amazing. I first analyzedother articles; once again “success leaves footprints”. Every article has a quote,

every article has a fact, and every article has information to help solve aproblem.

I wrote the article I positioned myself as an expert and they ran the article theexact same way. That one article then allowed me to then take that article andshare that article with Advertising Age. Once Advertising Age wrote about me Ishared that article with Crain’s New York Business. Now Crain’s New YorkBusiness wrote about me. And so now I’m going to Wall Street Journal with



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Crain’s New York Business, Advertising Age, and DM News. I’m now written up inthe Wall Street Journal.

Then I’m in Entrepreneur Magazine. Then I’m on CNBC and then I appeared onOprah Winfrey’s show.

So it’s not an overnight success. Overnight success takes a couple of years. Sowhat you want to do is start now though by getting published by writing andspeaking.

Bro. Bedford: That is something. Now you mentioned getting published. I knowlike no time before it appears to be easier to self-publish. Can you give us someconcepts around self-publishing?

Andrew Morrison: Man, the toys, the technology that’s available to you rightnow to get things going is incredible. And so I have no patience for anyone whotells me “Andrew I can’t get it started, I don’t know where to start”.

ALL THE TOOLS ARE THERE!

You can have conference calls right now all around the world for free usingfreeconferencecall.com.

You can publish a book online adobe-PDF and then you can sell that book topeople. You can do a press release using Prweb.com or Blackpr.com and sothe opportunities are right here in front of you.

And that is the reason why I created the Small Business Camp because whenyou come to my 2-day boot camp, it is a boot camp, I’m in your face, there areno excuses because the tools are right here.

You are in front of a computer so if you want to get that press release done we’llget it done. You want to get a book done we’ll get you a book done. We’ll getyou a website done, we’ll get the cover designed.

Listen, you tell me what’s your biggest excuse right now?

Who needs to be on your team?

Well guess what! There are websites of people who are looking for you.

Two quick websites are elance.com and guru.com.



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There are professionals all around the world who are willing to support you ingetting that first book done.

So here is the key to writing your first book. I first want you to identify aproblem. Find a problem. Find a problem that lots of people are having and finda problem that people are willing to pay for your solution.

So if people are having a problem and they don’t want to pay for your solution,that’s not a good topic for a book. So you find a problem, you find people whowant to pay for a solution and then you begin to list the top 10 ways to solve theproblem.

Let me give you the hustle right here. You don’t even have to have the 10 ways.You can interview other people who have already solved the problem. And byyou interviewing others and you just writing one or two pages that could becomeyour first book and so what’s your excuse. You have none.

I want you to start today. This program is worthless if you simply hear it anddon’t take action. All power lies in Action! So take it today!

Bro. Bedford: You mentioned your boot camp. I was on one of yourteleconferences and I’m amazed when people come from there and after your 2day intensive training how they start businesses.

I believe your specialty and what I love about you is that you are able to take aperson with an idea and help them create a concept that they can start for under$500. Now a lot of our people think that you need millions and millions of dollarsjust to get started in business. Could you expound on some of the concepts onhow you can start a business for under $500?

Andrew Morrison: To me it is amazing that people who are new to business allsay, “You know what Andrew it takes lots of money to start a business.”

People who have made money know it doesn’t take any money to makeany money.

What it takes to make money is for you to establish—here is a word everyoneshould write down, it is important to folks to get a pen and paper handy, myclients call me Andrew “do you have a pen” Morrison.

Before I begin to spit some knowledge I’m going to say, “do you have a pen”,because I’m going to spit some knowledge. Don’t ask me what I just saidbecause you missed it, so grab a pen when I’m speaking.



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Pardon me for my arrogance; let me move forward.

Here is the word I want all of our listeners to write down. All money transfershands for one reason and one reason only.

It is based on this one word. I want you to get this one word. Once youunderstand this word then building a business for less than $500 dollarsbecomes a cakewalk.

Here is the word. Are you ready for it? The word is

TRUST

Trust! Trust! Trust!

Once you begin to establish trust you can begin to establish community then youcan begin to establish commerce.

This is how you can begin to build any business for under $500.

Here is a powerful word too, it is called deposits.

So if you have no money---I’m doing some work right now in the New York Cityhousing projects, because I’ve discovered that nobody is going back into thehood and educating our people on how to get it going.

How to keep your same hustle but change your product. Lets change yourproduct to a legitimate product.

Here’s what you can do. You can simply do an event. You can simply do a busride. How much does it cost to rent a 40-50-passenger bus for 3 or 4 hours? Itcost you roughly say $1200. So I’m saying to you, your cost to rent that bus ifyou divide it by 50 people or so is going to be less than $50 a person.

You can then sell that same opportunity to other people and make a big profit.

So what I’m saying to you is that by getting deposits, getting folks to trust youand pay you in advance, you work the numbers out, you’re able to make a profitwithout putting any money out on your own.



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Take a look at your passion. If your passion is childcare, well let’s start achildcare business. If your passion is tutoring lets get it going when it comes totutoring.

Whatever your passion is, whatever your calling is lets begin to connect the dotsand let’s create a business model around that calling.

If you like to design fashion, design clothing; lets have a fashion show. Betteryet lets get some young kids in the community to model your fashions and youget your friends to video tape that fashion show.

Guess what all of the grandparents are going to be in there saying, “hey that’smy baby up there in the fashion show” and the DVD, you get to sell that as well.And you can sell tickets to get into your fashion show.

All I’m subscribing will cost you less than $500 dollars to get it started. So what’syour excuse? What’s really holding you back?

Bro. Bedford: Great information. Now you mentioned something there. I did aninterview with Randal Pinkett, the winner of the Apprentice season 4 and we hadthis discussion about how we do not utilize technology and up to date businessmodels.

I know you’re a master at Internet Marketing. When I mention InternetMarketing to Black People I get a strange look because we simply do not knowwhat Internet Marketing is.

Can you explain what Internet Marketing is and how viable that is for us as anopportunity today?

Andrew Morrison: My background is electrical engineering I worked for IBMVision Equipment Corporation designing risk-based microprocessors. OK

So I tell people I’m what you call a recovering engineer. What happen is those ofus who are in the know with technology we get so caught up with the lingo andthe terms and making it faster and better we’re not properly communicating thevalue proposition to the end user.

And that is why I like to use the word toys. Lets just look at a toy. Lets just lookat something that will help you either make money or save money.

So when someone comes to you with a technology that helps you—see basicallyanytime you are faced with a task. Get in the habit of either;



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1) Automating the task2) Delegating the task3) Or eliminating the task

And technology helps you to automate the task.

So I want to suggest to you that you can begin to automate your process ofcapturing clients by having a blog. Now you don’t even need to know what ablog is. All I am simply saying to you is there is some technology online that willhelp to increase traffic to your website.

All the search engines like a blog. A blog is basically a digital diary. You go onlineevery single week, once a month, or even twice a month.

You’re simply typing up your comments, what’s next for you, what’s beenhappening in your business and put some photographs up there as well.

So by having that blog and by having certain key words and connecting that blogto your website that will help to increase more traffic. Also, what I want you todo too is this; on your website you should sign-up with google ad sense.

What is google ad sense?

Basically that is a way for you to have certain ads from google on your own webpage. Anytime someone clicks on that URL on your web page guess whathappens? Google will send you money. So there are ways for you to begin tomake money with no money by simply adding a blog and by using google adsense.

What you want to do is not get caught up in all of these terms and concepts. AllI want you to know is-- listen you know what “ I heard from Bro. Bedford andAndrew Morrison that there is opportunity to make money online using Googlead sense and also having a blog.

You need to simply know its important and its possible. Once you know that thenyou’ll begin to build a team. I don’t want you going out trying to learn all ofthese new things. Stop that! Build a team.

Find other people who know what that is and begin to partner with them tomake it happen.



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Bro. Bedford: You know you are a dynamo. You have so many things going on.I know that you are speaking in several places and you are constantly coachingand mentoring and tutoring.

How do you manage your time?

I find that that is one of the major obstacles for a black entrepreneur starting upis that there is an issue with managing their time.

What would you advise as a good method to managing your time?

Andrew Morrison: That is a great question. I’m going to share with you asecret. I’m kind of hesitant to share this with everyone but I will go ahead andput this out there to everybody.

People think I’m really busy. People call up “ Andrew I know you’re really busybut I gotta ask you”. People call me up like they are in a rush. They don’t realizethat I have got large blocks of time where I am not doing nothing. I’m doingabsolutely nothing.

All day Tuesday, all day Wednesday, all day…I have nothing to do. I have carvedout these large blocks of time where I have nothing to do.

Alright here is a concept I want you to understand its called the “theory ofconstraints” its an engineering concept. The “theory of constraints” suggeststhis that if you constrain a system you’ll optimize it. If you have less time tomake money during the week you will actually make more money.

And so here is an exercise I’d like everyone to do. Imagine you only had one daya week to make your money. Imagine you only had two days a week to makeyour money.

What would you do during that one day or during those two days? So I’ve got 2days a week where I make my money and the rest of the time I can chill.

Here is a big breakthrough for everyone. I want you to begin to work from yourlifestyle; don’t work from your business. Stop trying to build a business. I don’tknow what that term means, building a business. I know how to live a life.



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So I design a business that supports my lifestyle. If I want to wake up at noon, Iwake up at noon. If I want to work 2 days out of the week I work 2 days out ofthe week.

So set a goal. You want to put $100 grand in your pocket, $50 grand in yourpocket, take Fridays off and vacation 3 months out of the year then build abusiness around that lifestyle. So forget about all of these different timemanagement techniques. If you don’t have a purpose, a plan, and a strategyaround your lifestyle then you’ll go from technique to technique always beingfrustrated.

So first keep your end goal in mind it’s about living your highest and best life.

Bro. Bedford: I have a question that I always ask all of the interviewees that Ihave interviewed, because I think this is key. Many people think that there is thismagical solution to becoming a successful entrepreneur.

I always ask what trait or characteristic do you think a brother or sister musthave if they are to achieve success as an entrepreneur?

Andrew Morrison: That is a great question. It kind of goes back to ifentrepreneurs are born or if they are made. I think this term entrepreneurshiphas too many positive labels. I’m going to put it to you that way. OK!

Because those of us who are really in this daily grind we know what it is reallylike.

People say entrepreneurship, but this is what I know. I know people who havelost their houses. I know people who have lost their marriages. I know peoplewho have committed suicide over this thing about being an entrepreneur.

When people tell me “Andrew I just started my own business I’m anEntrepreneur” my first words to them is my condolences to you. I’m not quit sureif you know what you are really about to get into.

I predict. I predict.

Here is my prediction. That one-day entrepreneurship will be classified as a formof mental illness.

Both Laugh



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It needs to be. As an entrepreneur we hear things that people don’t hear. Wesee things that people don’t see. That’s mental illness as far as I’m concerned.

So I want you to separate an entrepreneur from a manager. Some of you aregood managers. Some of you are good once something is built you can thenmanage a process.

Understand your role. I’m a creator. I hear things that people don’t hear. So I’mout there creating. That’s pure entrepreneurship. Don’t try to be in my lane. Iwant you to understand your own unique gifts, your own unique calling. Some ofyou are trying to go out here and be an entrepreneur when you’re really called tobe a manager.

Some of you need to…most of you need to do this...go out there and getyourself a franchise. That’s what you need to do. Don’t start from scratch, startfrom an existing proven model and you manage that model. So we need toseparate entrepreneurs from managers.

Bro. Bedford: Profound. Interesting that you mentioned some of those thingsbecause when we see individuals such as yourself and when we read your Bioand talk about your successes sometimes people could perceive that you didn’thave any hurdles or obstacles or challenges when you began.

You mentioned some of the things you witnessed from what other entrepreneurshave gone through. I know from my own experience that many of those types ofthings are an absolute fact.

By facing those same challenges and hurdles how did you overcome them?

Andrew Morrison: The most powerful concept that I have learned…man if Icould wave a magic wand and all of our listeners began to develop a new habit.

Because basically its all about your habits. What do you do on a habitual basis?If I could help everyone to begin their day by doing nothing. If I could helppeople begin their day in silence.

You see the whole world is impacting you. The whole world is trying to tell youwhat to think, how to act and also what to do. I’m telling you that the reasonthat you are stuck right now. The reason why somebody can’t find a way out isbecause they have not become still.



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I want everyone to begin to have a practice. A daily practice of stillness. Giveyourself 15 minutes in the morning, first thing in the morning. 15 minutes before

you go to bed just sit there and do nothing. Sit there and be still and rememberyour calling, remember who you are.

You can face any tragedy, any obstacle in life if you know who you are. Manyfolks go through life disconnected from the Divine Power Source. You don’t knowwho you are. You don’t know whose you are, nor do you know who sent you.

And so when you see someone doing things, “quote, unquote”. It’s because theyknow why they are sent. And whatever obstacle they face in life its simply astepping stone, it’s not a stumbling block.

I’ve trained thousands of people and I’ve always wondered why some people getthe training and other people don’t. It’s really because those who get it, I helpthem to remember who they are. Once you know who you are then you stepinto your greatness and you begin to do what you were sent to do.

Everyone listening to me right now, you were sent to do something. I don’t wantyou to find it. Don’t search it out. Just simply remember it. Once you move backto remembrance…man you are unstoppable.

There are two things you need in this life. Number one is Power. You needpower to do what you were sent here to do. Number two is Wisdom. Onceyou have the wisdom, the insight, the intuition to do what you are suppose to doand the power to do what you were sent to do…Who can stop you? What can beheld against you? Nothing

And that’s when you begin to move to a place of Knowing, Understandingand also Acting.

Bro. Bedford: That is great that is so great. You’ve given us so much already todigest. What’s next for Andrew Morrison? What’s coming up with you?

Andrew Morrison: Man, I’m in the same boat that everybody else is in. I askmy clients what’s next? I ask myself what’s next?

What’s next for you is this how can you maximize the moment? How can youtake all of your gifts, all your skills and take it to a whole new level? How canyou begin to expand your territory?



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I’ve been struggling with that question myself. Let me rephrase that, I haven’tbeen struggling with that I’ve been listening for the answer.

So stop struggling over the question and begin to listen for the answer. Openyourself up for higher thoughts, for Divine Guidance.

Let me share with everybody. I don’t mind admitting this to everyone. I justdiscovered television, I just discovered it. Something clicked in my head thatsaid, “Andrew you need to be on television, you need to have a TV show, youneed to begin to share these concepts in an engaging and fun way that helpspeople unlock there own greatness and show them a step by step plan on howto make it happen”.

And so what’s next for me is television. I’m about to step into unchartedterritories. But guess what? I know the process. The process is first you declarean intention. I’m telling the whole world lookout. I’m going to be on television.I’m not worried about being on TBS or BET. I can start on you tube.

The technology is there. I can have my own TV show tomorrow. You can haveyour own show tomorrow. So what’s really holding you back? You need to admitthat.What’s been holding me back? I don’t mind telling you. I get all these accoladesbut there is still this person inside of me. There is still this High School studentinside of me that says, “Andrew, you’re not ready. Remember how you messedup that speech. Remember all of the mistakes you’ve made in your career. Who’sgoing to believe you?”

What you need to do is to begin to speak to that critic inside of you. The criticinside of you is trying to remind you of things you need to improve upon. Howyou can get better and help others get better as well. So by speaking to my owninternal critic I am now about to step out and TV, Lookout!

Bro. Bedford: I hear you. I’m looking forward to that. Where can we see younext and get more information from you and see what’s going on with you on adaily or regular basis?

Andrew Morrison: Your best bet is to visit my website

www.smallbusinesscamp.com

Join my email list and you’ll be able to hear about my upcoming events. I will bespeaking at George Fraser’s Powernetworking event in Atlanta at the end ofJune.




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I will be speaking at the Essence Magazine Women Who are Shaping the WorldConference. I will be speaking on behalf of several other organizations that arecoming up.

By visiting my website www.smallbusinesscamp.com you’ll be able to

access that information.

Bro. Bedford: Well we are looking forward to seeing you at some of theseplaces and I’m hoping we can get you here in Detroit. There needs to be moreentrepreneurship going on here. With all of the layoffs and everything that’sgoing on with the automotive industry some are not looking at entrepreneurshipand building our own businesses as a viable career option.

So I’m looking forward to trying to get you here soon.

Andrew Morrison: I want to come to Detroit and put those folks on fire. Onfire with possibilities. The greatest therapeutic formula on the planet is Hope.The folks in Detroit simply need hope and they need hope by someone showingthem the possibilities.

So it would be my honor to go out there and show folks possibilities and givethem a step-by-step plan to make it happen. It’s all about making it happen.Let’s make it happen.

Bro. Bedford: We are going to make it happen. I look forward to it real soon.Again thank you Mr. Morrison for your time. I look forward to speaking with youreal, real soon

Andrew Morrison: Outstanding!

Bro. Bedford: Thank you

Andrew Morrison: Thank you




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Conversation with Ephren Taylor

Bro. Bedford: This is Bro. Bedford from How To Be A Black Entrepreneur.comand joining me today in conversation is Mr. Ephren Taylor. At 24 years old thisgentleman has had more business success than most people have in a lifetime.He is already “a history maker” by being the youngest African-American CEOof a publicly traded company, City Capital Corporation; a business developmentfirm focusing on making loans and equity investments in developing businesses,he owns three other businesses and his empire oversees over $250 million inassets and continues to grow.

This hip-hop generation born self-made multi-millionaire started his historicaljourney at the age of 12 by rejecting the misconception that young people arepowerless. Like most young men, Ephren enjoyed playing videogames; howeverhis parents lacked the financial means to purchase them. So he began makingvideogames and later formulated a company to house his operation. By the ageof 16, Ephren owned his second company, which became a multimillion-dollarenterprise GoFerretGo.com. This innovative website connected high school andcollege students with employers. Ephren is still making connections-he connectsindividuals, corporations, and churches to wealth. With a diverse client list fromWall Street to South Central, including stock market day traders to Hip-Hop iconssuch as Snoop Dogg.

Beyond his unprecedented accomplishment in the technology field and thefinancial industry, Ephren is an ordained minister, an author, public speaker andreal estate mastermind. In his ministerial duties, Ephren talks about vision drivenwealth and regularly consults with churches to help them plan and financeprojects that further their mission. Ephren has authored five e-books and iscurrently penning his first bookstore release, which is a self-empowerment book.

As a speaker, Ephren connects with audiences with an energetic, humble, andinteractive style that inspires audiences to expand their visions and move toaction. In the real estate arena, Ephren is highly respected for his willingness toinvest in community redevelopment projects such as leading the effort in theKansas City Historic Jazz revitalization.

A true wealth engineer, Ephren is becoming for the hip-hop community whatWarren Buffet is for baby boomers, the premier financial expert for a generation.

Thank you for joining us today Mr. Ephren Taylor



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Ephren Taylor: Hey how is it going! I’m happy to be here.

Bro. Bedford: I know you’re pressed for time with all of the things you havegoing on, I’m truly honored that you were able to give me a few moments ofyour time this morning.

Ephren Taylor: No problem

Bro. Bedford: Let’s get started. I know we’ve already touched on some things,but how did all of this start for you?

Ephren Taylor: Oh! The beginning of it, well in the galaxy far, far away (laugh)long, long time ago. It all begins actually at home, how you’re conditioned athome. The things your parents instill in you and the home environment I believeplays a crucial part in a child’s long-term success. Just for the remainder of theirlife.

For me it started in middle school, because I had a need. I liked to play videogames, like most kids and so I bought a book, taught myself how to programcomputers, started working on the school computers.

At the time we didn’t own a computer in our house. Just using what resources Ihad.

My parents just weren’t going to buy $49-$50 video games like all of the otherkids on the block, so I was kind of left out a lot of the times.

My mom said, “ Why don’t you go and figure out how to make your own game.”

I think she was being sarcastic, but low and behold there was a book at thebookstore on how to do just that. So I read it, created a video game and startedselling copies of it to the kids at school. I did pretty well.

Later on I got to the 8th grade I was still into computers, programming, stilldoing web sites. This is when I realized that I needed to become anentrepreneur.

I had built this web site and got paid about $3,800, which I thought I was a richperson. $3,800 bucks a couple of years ago in the 8th grade, I was the man. Myparents are questioning me about where all this money is coming from. (Laugh)

But at that time I realized I was on the wrong side of the equation especiallycontracting my self out to working for other people. Because the guys I built this



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website for, I did all the creation of it, the design, all of that, these guys made$800,000 off of my creation.

I was like; you know what I’m never going to get to millionaire status beingbehind this computer screen.

At that moment in time, I started reading different magazines, Business 2.0, Inc.Magazine, Forbes, Fortune trying to figure out what was the secret to all of thesemega-billionaires and how they were doing it. Because I wanted to be like them.

I had forgotten about wanting to be an athlete, actor, or singer because I wasrealizing the real money was on the other side of the equation.

Through my research I figured let me try this Internet boom. So when I was inhigh school I created a company that connected high school and college studentswith employment online.

Sort of like Monster.com

Through doing that and through all the trials, I had no idea how to run acompany, so I just kept reading books how to write a business plan, how tomarket your company.

We started with $250 each, my partner and me, we had $500 total. We grewthat company to about $3 and a half million dollars. We rose about 3 quarters ofa million dollars of capital while we were in high school.

It took us a long time to raise that money, because we applied to venturecapitalist after venture capitalist and got denied, denied, denied, denied.

Probably over about 65 to 70 times, until finally some Angel investors believed inus, took us aside and it kind of worked from there.

I had 13 employees, my high school history teacher left work to come work forus. I had a very, very interesting time in high school.

I left there, did my IT consulting company, working with insurance andpharmaceutical companies helping them to automate their processes and gotburnt out working 80 hrs a week being a very young 18, 19 years old.

So I sold my piece back and actually retired at 19. I was done. I thought I wasout. (Laugh)



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I got married and that changed real quick. I was pretty much motivated to dosomething more productive with my life.

So I came out basically with a couple of church members buying houses, sellingthem back and forth just to raise money for the church.

And then we grew that little concept into a one house, two houses and got sogood at it we started doing hundreds of houses.

So now we oversee probably almost $200 million plus in real estatedevelopment.

On the gas projects that we’re invested in, one of the companies we bought,they did $40 million dollars last year. We just took them out a couple of weeksago and wrapped them into our fold.

So right now we are just pretty much on an acquisition target. Buying out othercompanies flying all across the world trying to do it, so I guess living the otherside of the entrepreneurial thing. Really trying to grow a substantial business.

But our main purpose at City Capital is to benefit the communities that we servein through economic empowerment and we’re dead set on making that happenthrough the institutions we work in.

A lot of bankers won’t work with us because of the neighborhoods we work in orthe people that we choose to serve and work with.

So for us it’s about taking a corporate stand and really as a corporate citizenalmost taking a lot of social and cultural and economic issues in this countryalmost onto our own hands and dealing with it in a successful manner.

Bro Bedford: Since you had phenomenal success early as an entrepreneur, canyou describe some of the obstacles that you faced that might not be apparent?

Ephran Taylor: Hmm where do we start? I was born in Mississippi, that’s oneright there. (Laugh) Young African-American male trying to do business as ateenager.

We were an odd couple especially my high school venture. My business partner,he was a white read headed Jewish kid and I was a black Christian kid. We wereboth not exactly the two people who normally tried to be successful in business.(Laughing)



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There was a ton of obstacles. One is all of the capital companies, you know weweren’t old enough to get a loan, we couldn’t get venture capital backingbecause we didn’t have management experience.

I mean realistically, your seventeen years old how much managementexperience are you going to have. The only thing I know how to manage ismaybe building a computer at the time.

Our main thing that really made us successful was is that we had mentors. Allmy life I have always had a business mentor which has helped me to avoid a lotof the business pitfalls that a lot of individuals make.

And also, when my mentor opened the door it was like a third partyendorsement or somebody opening the door for you.

So his Rolodex became my Rolodex. His Rolodex with an endorsement wasgreat. That helped me to make a lot of success earlier on.

And I think a lot of entrepreneurs jump into it kind of on their own with theSuperman Syndrome not realizing just because you have a vision for somethingdoesn’t mean you should be the one implementing it.

What I tell a lot of people is that you may come up with a great concept but thatdoesn’t mean you should be the CEO of the company or should be running it.

A lot of times as entrepreneurs one of the biggest things is stepping aside.

But as far as obstacles, I mean we’ve had obstacle after obstacle. Even unto thisvery day banks will not go with us because we are in areas that are consideredtoo urban. You know exactly what that means.

A lot of times we have to come up with creative solutions to deal with it.

I’m thankful for the obstacles we had because if it were easy something wouldbe terribly wrong. You wouldn’t really appreciate the successes you have lateron.

Even when we took the company public, being one of the youngest African-Americans to do it and one of the few out of the 10 publicly traded companiescontrolled by African Americans

There is a lot of difficulty dealing with Wall Street. It’s kind of like you have toprove yourself time and time again, but as people always put up roadblocks we’ll



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find a back door way or another way to actually do it and we’ll just keepovercoming and keep moving.

For us the battle is just beginning. We look forward to many more obstacles oropportunities as we choose to call them at City capital.

Bro. Bedford: Is it more pressure having a publicly traded company vs. aprivately held company? Since you’ve been on both sides.

Ephren Taylor: Oh my goodness the pressure! (Both Laugh) I would say in aprivate company you really just have one business to focus on and work withand you can do it from there.

But in the public sector I answer to everybody. I got the SEC on one side; I gotan Auditor on the other side. I got people that are short sellers and predatoryinvestors on another side then I got my regular shareholders that I got to dealwith on another side.

And then after I deal with all of that, then I can work on the business. (BothLaugh)

On the public side (oh man) I tell people it’s not for the faint of heart and it’sdefinitely not for light pockets.

Everything is expensive, I mean you go from paying your accountant maybe$1,000 a month if you’re a pretty large business to maybe spending, acomptroller runs you $60,000-$70,000 just internally and then your auditors hityou for $30-$40,000 every quarter. That’s just accounting. No matter whathappens.

And the bigger you get the more expensive it becomes.

I mean it’s a number of things that change drastically with a publicly tradedcompany. However, the benefits are access to capital. I mean there is a lot of itout there, but you have to realize very early on that all capital is not goodcapital.

Right now I have term sheets for 50 or 100 million dollars on my desk, butbecause they are predatory type capital, you can’t exactly take it on.

There are a number of things that you have to watch for as a public company.There’s a lot more work and a lot more vigilance that you have to have onmanaging all the pieces to it.



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Bro Bedford: Sure, Now you mentioned raising capital several times. One of themain questions that I get from my subscribers is how do I get capital to do thisor to do that, where should I go for start up capital? What advice would you givebudding entrepreneurs that are seeking to raise capital for their ventures?

Ephren Taylor: You know what the hard thing for me to realize was; being anentrepreneur for the last 12 years, I haven’t been at it that long, but I wasfortunate enough to realize, especially in the last 2 to 3 years that it is actuallymore work to raise a thousand dollars or a hundred thousand than it is to raise amillion dollars.

A lot of entrepreneurs don’t believe me until I take them in and show them howmuch easier it is. And one of my mentors, who is now one of my directors wastelling me that it is more capital out there then there are deals.

And in talking to Wall Street bankers and talking to these hedge funds their mainproblem is that they have too much money and they can’t deploy it fast enough.I’ve talked to hedge funds and the small one’s are sitting on almost a billiondollars and they can only move a couple hundred million of it. They can’t figureout other places to put it.

So, if you are an entrepreneur and you have a great concept and great idea andyou actually have a decent plan. Right now my advice is no one reads businessplans any more they just read executive summaries and the numbers aretogether and you can prove the concept.

And what I mean by that is, let’s use the T-shirt business as an example, youmay have a great design but if you haven’t sold one t-shirt no one is going tofund you.

I can tell you that now.

If you don’t have any clients and if you can’t prove that somebody wants yourservice or need or that there is a growth market for it. Investors are looking tomake 100% to 200% of their money.

You have to be able to deliver something of that nature and as I was alluding tobefore you may not be the best person to execute it. So start searching aroundfor whom you would like if they could to run your company.

Start getting with them and talking with them preliminarily and maybe gettingthem lined up and saying, hey, if I get this money can you run the company forme and take it to the next level?



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The sooner you realize what you don’t know and finding people who do knowwhat you don’t know the better off you will be.

Really raising capital takes persistence and it takes opening up your eyes. Don’trun to the bank it ain’t gonna happen.

Bro. Bedford: Right!

Ephren Taylor: They’re way to conservative. There are angel investornetworks; there are clubs that meet every month. Be prepared to travel. The citythat you are in may not be the best place to raise the capital. There were a lot oftimes I had to fly out to Los Angeles or go to New York or go out to the eastcoast. I very rarely, matter of fact almost a never raised capital in my hometownof Kansas City.

Bro. Bedford: Wow!

Ephren Taylor: It’s always been from the outside. And so you have to beprepared to actually make that move and go where the money is and make thepitch and be prepared to be told no probably 100 times before you get a yes.But when you are told no ask why they said no.

Either it’s going to be because you didn’t have enough management experienceor the concept is not solid and if it’s not solid go back and work on it. Go findother experts and run it by some people maybe it’s not solid and you need tohang it up.

But go through that process and look forward to the no, because it is going tokeep leading you to improving the plan and getting to that yes.

Bro Bedford: There is something that you mentioned when you said thatmaybe you will have to go back and revisit your plan or your idea, I have withmy subscriber base a lot of new budding entrepreneurs and I always want togive them the realities of entrepreneurship, so I always ask what is the first stepthat you would advise someone just starting in the arena of entrepreneurshipwhat is the first step that they must take if they want to become successful as anentrepreneur?

Ephren Taylor: First step is called the reality check. Are you truly ready to bean entrepreneur? And, so many people have this misconception, this is one ofthings that we are teaching at my entrepreneurial Institute at Cheney, is that



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you’ve got to really have the right mind set of the sacrifice that is going to berequired of you.

Its not I come out with this business plan and somebody’s going to give me aton of money and then oh I’m rich.

There is going to be a lot of sleepless nights. There are going to be familymembers that are upset with you. If you are not willing to put it all on the line.Don’t do it.

If you are not willing to put your house up and willing to be homeless, don’t doit. If you are not willing to lose it all and start all over again I don’t recommendyou doing it, because there is another entrepreneur who is willing to risk it all.That risk tolerance, the ability to make decisions and actually stick with itweather the consequences are good or not.

Those are some of the key things to look at. I’m not saying to go out there andbe reckless, but you really have to be willing to sacrifice, it’s almost like a militarytactic sometimes, because the business world is a harsh reality. But my advice isreally just mentally checking to see.

Ask yourself do I have an entrepreneurial personality?

Can I sell?

And if you don’t have sales skills go out and take a couple of sales trainingseminars and learn to present, learn to sell all before you try to jump into anactual business. Get the main core skill sets and competencies.

See what your vision is, put it in plan, run it by a couple of people first and thengo find some provisions to be able to make it happen and prove the concept.

Once you prove the concept it becomes pretty easy to actually raise the moneyand take it to the next level.

Bro. Bedford: Proving the concept first is of great importance though.

Ephren Taylor: Start small. Everybody has the big idea. Well, if you got a bigidea find one piece to work on and then get that done first and then move on tothe next piece.

Bro. Bedford: Almost like a proto type.



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Ephren Taylor: Absolutely.

Bro Bedford: Okay. Great! I know that we getting close to you having to run.What trait or characteristics do you think a person must have if they are toachieve success as an entrepreneur?

Ephren Taylor: Characteristic? Oh Man, one they have to be very persistence.They have to be able to think on their feet. Resourcefulness is something that Iadvocate, being able to find resources, locate those resources, find individuals,and acquire talent. That’s going to require a little hustle mentality.

And definitely presentation and sales skills you’ve got to have them. You’ve gotto be able to sell clients, be able to sell investors, be able to sell the market.You’ve got to be a sales person. Entrepreneurs who are sales people are usuallythe most successful ones.

Bro. Bedford: Yes sir. Now are your 5 E-books still available?

Ephren Taylor: No, we pulled them off the market. I recently signed withWiley Publishing and the first main bookstore release actually comes outNovember.

Which is a lot of the things we talked about today. I do caution people that itwill not be a fluffy; fluff motivation book that everybody can be an entrepreneurand everybody can be successful. It will actually be the real deal.

Nothing drives me crazier more than all these motivational guru books that sayeverybody can do it if you follow these 5 steps.

Bro. Bedford: Right, Right! (Both Laugh)

Ephren Taylor: That’s not how it happens. All you’re doing is setting yourselfup for disappointment. They are sending people out there definitely unpreparedto really be able to make it happen. And so our main thing is really to talk a lotabout what I had to go through, what I did as well as a lot of my team membershad to go through for us to be able to make it happen.

Bro. Bedford: Okay, are you still currently on your Wealth tour?

Ephren Taylor: Yes! We are on our Urban Wealth Tour. Matter a fact I leavetomorrow morning heading to Battle Creek, Michigan. Actually me, Jeff Johnsonknown as Cousin Jeff from BET, social activist and economics activist teaming upto deal with some of the issues, a lot of issues that’s in our community.



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So we are looking forward to those we are going to Washington D.C. in themonth of June as well as Las Vegas during 100 Black Men National Convention.

So, there’s a lot going on and your readers can find out more about that atwww.urbanwealth.net and they also can find out more about our company atwww.CityCapCorp.Com.

Bro. Bedford: www.CityCapCorp.com

Ephren Taylor: Yes sir

Bro Bedford: Are there any other closing remarks you have for the budding orsuccessful entrepreneurs?

Ephren Taylor: I’ll pretty much say the main thing that I tell everybody is to beextremely persistent and don’t get discouraged at the first round of no’s. It tookme 18 months to really build my first successful venture in High School

It required a lot of sacrifice and a lot of no’s, I was being told no everyday, butthrough that it finally actually happened. Sometimes it requires being able tosee what others can’t see and you have to have a passion for what ever you do.If you don’t have the passion you’re ultimately going to fail or lose involvementor desire for it. So if you’ve got the passion and persistence you should be ableto make anything happen in this world.

Bro Bedford: Great! I’m going to try to get down to Battle Creek to see youtomorrow. I wanted to see you when you where here in Detroit you where hereand it happened to be at the exact same time as the NAACP Freedom FundWeekend Dinner. I was actively participating in that and I wanted to get overand see you. I may try and make my way to Battle Creek to meet you and atleast shake your hand.

Ephren Taylor: Absolutely! Look forward to meeting you.

Bro Bedford: Alright Thank You Mr. Taylor for this time God Bless and I hopeto talk to you very, very soon.

Eprhen Taylor: All right Thank You.

http://www.urbanwealth.net/

http://www.citycapcorp.com/

http://www.citycapcorp.com/



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Conversation with Les Brown

Bro. Bedford (BB): This is Bro. Bedford from HTBABE.com and I am justoverjoyed with who is joining me in conversation today. This gentleman hasrisen into international prominence by delivering a high-energy message thattells people, how to shake off mediocrity and live up to their greatness. Hismessage is not one of theory; here is a man that actually practices what hepreaches. He is an internationally recognized speaker. He is also the author ofthe highly acclaimed and successful books, Live Your Dreams and the newlyreleased, It’s Not Over Until You Win. He hosted a national syndicated talkshow, which focused on solutions rather than problems. He’s one of the worldsleading authorities in understanding and stimulating human potential. I can goon and on about business accolades and awards this gentleman has receivedthroughout the years. He’s the one and only, world-renowned speaker,successful entrepreneur, best selling author, radio and television celebrity, Mr.Les Brown.

Thank you Mr. Les Brown for joining us today.

Les Brown: Well thank you so much and you proved that $5 can go a longway. I’m going to give you $6 next time for that build up all right.

Bro Bedford: (Laughter). Thank you Mr. Brown. I am truly honored. You aretruly one of my heroes as it relates to successful black entrepreneurs. As Istarted compiling these interviews, I knew that this series would not be completewithout your voice being added to this series. So I thank you once again. I amtruly honored.

Les Brown: Well thank you so much for having me, sir.

Bro. Bedford: Yes sir. Well let’s get started because I do know you’re a verybusy man. How did you get your start as an entrepreneur?

Les Brown: Well we all know that it all starts with a decision that we want to beour own boss and it’s something what want to do, we want to do it our way andgo into the market place and test ourselves with our products, our services orour information. I decided that speaking was an arena that I love the businessof it, I love changing people’s lives and I wanted to take on the challenge ofgoing into this industry where I had no experience and no prior knowledge ofwhat it would take to do it, something that was very challenging and establishmyself as the intellectual resource for corporate America.



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This was twenty (20) years ago. There was no such thing as an AfricanAmerican motivational speaker, Black motivational speaker. So at that time towant to get a $1K per hour to train white corporate America, how to achievetheir corporate goals was just not done. It was not something that most peoplehad envisioned and that’s what I set out to do.

In our community, if you have a desire to help people, because of ourconditioning and because of past experiences in our history, we chose to becomeministers. I think that’s why we have more churches and ministers than we havebusinesses because that was the first avenue of expression. But this was somearea that had never been carved out. A brother motivating corporate America,so I like that kind of stuff. (Laughter) I was gonna motivate the man.

Bro Bedford: (laughter)

Les Brown: (Laughter); so it was fun and it has been fun. It’s been a great ridefor twenty years and I’ve earned just over $52 million dollars and it’s been afascinating, enlightening and empowering experience.

Bro Bedford: Yes sir. I’m sure just as you mentioned going into to whitecorporate American and motivating them, I’m sure that was a serious challenge.But I want to ask you what where some of the major challenges that you facedor that you had to overcome in your beginning stages as an entrepreneur?

Les Brown: Well one of the first things I had to do was I had to sale myself onthat. One of the things that I would suggest is, are you open to some coaching?

Bro Bedford: Yes. Absolutely.

Les Brown: One of the things I suggest that you do is drop the title “BlackEntrepreneur”.

Bro Bedford: Uh hum!

Les Brown: I had to begin to face something that my mentor said to me. Hesaid, “Les, you’re more than you’re paint job and if you see yourself as a blackentrepreneur, then they will see you how you see yourself and how you seeyourself connects with the history they have about black entrepreneurs.

You have got to position yourselves as you are the one and your message is forthe planet and knowledge and your expertise and your level competence andyour confidence as you bring it forth, that they’ll forgot about your paint job



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based upon your content and your character and deal with you because you canimpact their bottom line.

You’ve got to out work them and out think them but there cannot be in yourthinking “I would like for you to do business with me because I’m a blackentrepreneur and so on”. Because that doesn’t work at the level you want to goat.

I don’t speak at black history time and Dr. Martin Luther King’s birthday, I speakall year long. And so, I get $25K an hour speaking domestically to corporationsand $55K internationally. And so at that level, doing that three to four times perweek and having the reputation for specializing and custom designing apresentation to meet the needs of corporations. Going up against major firmsnot having their PowerPoint presentations, not having the MBA’s and PhD’s andcompeting against them on a yearly basis.

Usually, if they see my name on a roster for a contract they usually come andtalk to me about sub-contracting with them because they know I most certainlywill get it.

And so, it’s about one, how you vision yourself, having a larger vision of yourselfbeyond your paint job and seeing yourself as a force to be reckoned with on theplanet, that’s number one.

And two, holding yourself to a higher standard that they don’t because in orderfor us to be considered average we have to be extraordinary. We have to be atleast five to ten times better we can’t just be as good as; we have to be betterthan.

And so, the whole regiment that I went through to train myself so that

1) The fact that I happen to be black,

2) The fact that I never worked for a major corporation,

3) That fact that I don’t have any major college education,

4) That I had no track record of achievement in this area,

5) I had no recommendations and had no colleague or anyone to point me outand say, he can do this and was asking for a $1K an hour to motivate acorporations to do something I had never done and ask them to fill out anevaluation form to tell me what they want me to tell them.



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Now to me when I call the psychic hotline and they ask me what’s my name, Isay well you tell me. (Laughter) so to me when I look back, I said ArethaFranklin used to have a song called “How I Got Over” and sometimes I look backand I wonder, how I got over? (Laughter) I can sing that song! Yes!

And let me share something with you.

Bro. Bedford: Sure.

Les Brown: As entrepreneurs, there are five things that are indispensable formaking it in the global economy:

1. Is your mindset.

I cannot tell you how important that is that you work on that on a regular basis.Your mindset is crucial when you are in business. And just to deal with theemotional, stressful, unpredictable, volatile environment that you just don’t knowwhat’s going to happen from one minute to the next.

Bro. Bedford: Uh hum!

Les Brown: There are many people between you and the money and peopleyou have to depend upon. I used to be insulted, when I would hear years ago,white people, when they were asked about why don’t you have blacks workingand they would say well send me some that are qualified and want to work. Iused to be insulted by that, now, you ask me (laughter) aren’t you going to hiresome brothers and sisters, send me some who are qualified and who want towork. I’m here to tell you, it’s amazing how people just want a paycheck. Theydon’t want to work.

In the twenty years I’ve been doing this, I’ve earned just over $52 milliondollars. That’s crumbs! Had I not been narrow in my thinking; I should haveselected people, not based upon their paint job to formulate my team. I shouldhave selected them based upon their competence and their being in the business


Les Brown: and partnering with me and growing with me because I out grewthe team I had for a long time. And now at this stage in my life, I’m an old mannow, I’m sixty-three. The fact that I can do a 140 push-ups non-stop does noterase the fact that I’m old now. I forget that because of my energy and becauseof what I’m doing now. I’m still excited about what I’m doing because this is notwork. The only part that’s work is getting ready to go to the airport.



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That’s what I charge them for. The speech is free, I charge them $25K to gothrough the airport and get another prostate examination. That’s what I chargethem for. (Laughter).

Bro. Bedford: Right, yes sir.

Les Brown: But as I’m looking at my life, I’ll give you case-in-point; usually inthe month of December, the speaking business and training business usually isvery slow. It’s around Christmas time and so you might do $30-40K dollars maxthat month and that’s a good month.


Les Brown: In an hour and a half because of the strategic relationship and as aresult of the strategic relationship, it gave me access to a market that I did nothave access to. I learned the process of how to deliver a sales presentation thatI did not know before then. In an hour and a half, I earned $410K dollars

Bro. Bedford: Uh hum.

Les Brown: Okay. What was changed? Same person, twenty years in theindustry a different relationship, a different team that the difference of being inthe business and the business being in you that introduced me to strategies anda process that I was not aware of because I got on this track twenty years agoand one of the things that’s very important is:

1. Working on your mindset2. Making sure you stay ahead of the game in terms of your learning

and being a master in this arena3. Surrounding yourself with people who are continuously involved with

growing and staying ahead of you.

That’s the mistake that I made. I didn’t do that. Now I understand what when Iwas on a board with T.D. Jakes. He came into the room and he said, goodevening it’s so great to see all of you hear. Let me put this out here, as soon asI know as much as the rest of you around this table, you’re fired and I’ll getanother group.

That was a strong statement. People laughed nervously, but now I understandthat you have to have people around you that know more than you.

Bro Bedford: Uh hum.



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Les Brown: And as soon as you know as much as they know, you no longerneed them. I had people around me where I knew more than them. It wasDennis Kimbro, who wrote “Think And Grow Rich, a Black Choice”, he said ifyou’re the smartest one in your group you need to get a new group.


Les Brown: So I was the smartest one in my group and I did not know what aliability that was to me business wise. You have to have people who know morethan you and who are continuously growing, staying ahead of the game andbringing you stuff as opposed to you bringing them stuff.

The other thing that’s very, very important as an entrepreneur that most peopleand particularly African Americans, don’t invest in, I’m about to get off this calland I’ve been on a call with this company called American Home Mortgage andthey have a national corporation. That has been an advantage for me in dealingin the market that I deal in because 99% of my customer’s are white; and that ismindset, working on yourself on a regular basis, listening to motivationmessages, reading positive material to reprogram your mind to overcome thesubtle, unconscious mental conditioning that keeps us from playing on a highlevel and it just creeps back in. And I’ll give you some examples if we have thetime.

But the other thing that’s very important is investing in your communicationskills. Put you’re money where you mouth is. It gives you your ability tocommunicate because I did that and I still do that.

I trained last year just over five thousand doctors. I taught them how tocommunicate with their patients and to increase their patients’ compliance intaking their hypertension medication. That was 30 minutes a day, Monday thruThursday, a $640K dollar contract.


Les Brown: Thirty minutes a day, 12 (noon) until 12:30 p.m.; four days aweek. (Laughter). I’ve never been a doctor and I never had a patient.

How did I beat out all of these other white firms?

Not only was I able to express and connect with the pharmaceutical companythat was going to release the contract, but I conducted communicationsintelligence. Unlike my white competitors who came there with an idea of whatit took to teach these doctors how to communicate with their patients.



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I spent a lot of time finding patients who were taking their medications andasked what role their doctors played in doing that. I talked to patients who weredoing it, to find out or to give me a portrait of the personality and the style ofthe doctor, his staff and his practice and what role that played in them beingcooperative in the process.


Les Brown: As well as talked to doctors who felt that they were successful ingetting their patients to take their medications. That was the heart and soul ofmy presentation. The insights that I brought, made them know, even though Ididn’t have an MBA, even though I have no health care training whatsoever inmy background that this man knows what he’s talking about. And I got thecontract.

Bro Bedford: Question, excuse me. I heard you a couple of years ago and Iheard you say that you had succeeded as a speaker, but you had failed at thespeaking business. Is that when you made that transformation?

Les Brown: Absolutely! I’ve made over $52 million dollars not knowing whatthe hell I was doing.

Bro Bedford: Laughter

Les Brown: Yeah, yeah and the reason is because right now as late asSaturday, Saturday. I was in Summerset, New Jersey training a guy named T.Harv Eker’s speakers and trainers on how to tell stories and position your storyso it has value for an audience and to move them, to motivate them, topersuade them to get them to make the choices that you want them to make.

I got up early that morning to go down and see what was going on before me.They were doing a training called, How to Present the Irresistible Sale.


Les Brown: They gave the top ten secrets of guys that I work with thatbecause I’ve known them for years and we speak in different places and veryseldom we are in the same place unless we’re on stage then we speak and werun and we’re gone. So I got a chance to see all of these various presentationsand some I had seen before, but now looking at them from the inside out findingout why the work. I had eighty people to speak to. I was there going throughthe training with them. I came up on the stage, I stayed in the room, did not



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leave, came up on the stage to do my presentation and then paused in mypresentation because I had an hour and a half to do but I had to catch a planeand planes had been cancelled coming into Chicago, so I had to cut it to forty-five minutes. So I said, well let’s see how well I learned the irresistible sale andpeople began to laugh in the audience.

Now mind you, for twenty years, I prided myself on two things: 1) Being thehighest paid speaker at $25K per hour. The only people that earn more than I doare guys like Gullianni out of New York; former President Clinton; Zig Zigglerearns like around $11K; Jack Canfield, $20K; Mark Victor Hansen, who co-wroteChicken Soup For the Soul, those guys get around $10K. But most of thecelebrity speakers taper off around $10K-$15K highest. I get $25K for thirtyminutes and sometimes I’ve spoken for less as five minutes, flew to Hawaii andspoke for five minute, four minutes and they paid me $25K dollars and I left.(Laughter) four minutes…

Bro. Bedford: Laughter,

Les Brown: Because the people ahead of me went over. But internationally, Icharge $55K, plus they usually have me with seven interpreters. Next week, I’mgoing to Ottawa, Canada, Calgary and speaking to over six thousandentrepreneurs there.

But what happened was, here I am priding myself as being one of the highestpaid speakers on the planet and T. Harv trains his people, not to get a fee.Wow! I’m saying whoa, what does he mean by that? And then here I pridemyself as getting more standing ovations than anybody in the industry and herehe is training his people not to get a standing ovation. He trains his people toget a running ovation to the back of the room to buy products. I said whoa!

That presentation because I changed and used the running ovation strategy andthey thought they knew I was going to do it. I talked about it at each step, nowI’m going to do this, he told us to do this. They knew the steps, the elements todrive them to the back of the room and they still got up and went back there andbought over a $130K dollars worth of products.

Blew me away. Eighty people! Eighty people. So the lesson in that is DwightPledge, one of the speakers I’m training now is… doing it is not, I love theexcitement of going to Ottawa, Canada or speaking to American Home thismorning and blowing their minds. I like that. I like it when I come in the roomand they look and they know he doesn’t play football, he’s not a basketballplayer, he doesn’t sing, he doesn’t dance, but he’s about to make our nosebleed. Okay. (Laughter)



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Bro. Bedford: Laughter.

Les Brown: I like the voice in my head. This priest, this Catholic Priest was atan event where I spoke and he said, what a paradox, God has raised fromamong his oppressor a motivator to motivate his oppressor. (Laughter).

Bro. Bedford: Laughter.

Les Brown: I like it when they give me that check and I run to the bankspeaking in unknown tongues (laugher)

Bro Bedford: (laughter)

Les Brown: It’s so much fun because the looks on some people’s faces are likewhat are you going to do? Who are you? And just to break them down, I likethat. I like it, write this down. I like that.

Bro. Bedford: Right, right.

Les Brown: My challenge is now, what turns me on now, that’s okay, but whatturns me on now is training others to do it and I’ve got some speakers nowthat’s giving the old man a run for his money. And I like teaching and trainingpeople how to negotiate how to develop their leadership potential, how to impactthe sales process, build relationships and quadruple your income in any industry,how to establish a brand, a reputation and dominate your niche. That’s what mygoal was when I came into this industry. To dominate it and that’s what I do.

Now I’m learning the business. I dominate the speaking aspect of it. That’s adifferent mindset. I’m learning the business; I’m now working with a person likeT. Harv Eker, who’s earned over 200 million dollars in a year.

Bro Bedford: Uh hum

Les Brown: Well I hear people say, well he’s white, no that’s not the biggie, sowhat. This is an area where we have an advantage. He has a process and hehas a team of people that know some stuff that I don’t know. And now Iprobably will have about 1/3 of his team who volunteered to come work withme. Many of them are going to put in there resignation to come and work withme because they like they way I do business and how I operate.

That’s going to take my stuff. I will probably do what took me twenty years todo, with this new team that I’ve assembled and they’ve got a brother up in there



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too and a sister. I saw them, they’re coming. It will probably take me less than15 months with the knowledge that they’re bringing.

Bro. Bedford: That took you twenty years.

Les Brown: took me twenty years, yes. Twenty years. But I don’t care. 52million dollars, a good God and a healthy heart and you can make it through thewinter in Miami, FL. (laughter)

Bro. Bedford: That’s right, that’s right

Les Brown: I’m telling you, my brother.

Bro. Bedford: I know you have to go. Can I ask one more Question?

Les Brown: Go ahead, I can talk to you, go ahead.

Bro. Bedford: Okay, You spoke about the importance of speaking andcommunication as an entrepreneur and I think you touched on that beautifully.In connection with that what is the most important trait or characteristic that ayoung brother or sister must have if they’re on the track of entrepreneurship?

Les Brown: And that is a belief in themselves, see communication skills areimportant, but who you are behind the words that’s far more important than thewords themselves. Because under every deal, underneath every conversation,underneath every presentation, there’s the energy, there’s your conviction,there’s your character, there’s your spirit.

And for you to convince someone to hire you, to consult with you, to accept youas the vendor that their going to do business with, that connection, that decisioncannot just be cerebral it just can’t be based upon the numbers.

I deliberately charge more money than everyone else. And so, I'm making astatement about my stuff. Oh you want something cheaper, fantastic. I can getyou a $10K speaker. I just happen not to be the one. I train them and I know alot of them and let me give you their numbers.


Les Brown: Gladly, because I have over 3K request a month, I mean a yearand so I’m not out looking for business, I don’t generate business, businesscomes to me.



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You do that through holding yourself to a higher standard operating out of thethinking of Henry David Thoreau, who said “do not go where the path may lead,but go where there’s no path and leave a trail”. The regiment in which I trainmyself and in which I’m now training and putting together a structure to train myspeakers on, a regiment that my competition cannot even respond to becausethey didn’t train themselves like I train myself.

They didn’t have to they had privilege. 87% of what they want is available tothem because they have the complexion of connection. I didn’t have that. So Ihad to train myself in a different kind of regiment. They can go up give thesame speech for 30 years and regurgitate that “one speech fits all situations”. Ididn’t have that option being black. So I had to train myself in a different kind ofway. They operate out of the thinking of the Dale Carnegie course, which is agreat course, tell them what you’re going to tell them, tell them, and then tellthem what you’ve told them.

I couldn’t do that. I have to go from a different place. I train my speakers toconduct communication intelligence. My favorite book says, “In all thy getting,get understanding”. Find out who they are.

Bro. Bedford: Uh hum

Les Brown: Once you find out who they are, craft a message in a language inwhich they can relate to. Don’t let what you want to say get in the way of whatthey need to hear so that you can make impact, because impact drivesincome. And because of that standard that I train myself on, they can’t do that.They just can’t go up on a stage and start speaking on any subject matter in anyindustry and command the kind of money that I get.

I’m training my speakers to be flexible and versatile to do that on any industry,period. Five minutes prep, and they’ll think you’re the expert for the hour thatyou talk. So we always have to hold ourselves to a higher standard, when itcomes to the knowledge because knowledge is the new currency andcoming to express it, to communicate it, to relate to different people on differentlevels. Once you open your mouth, that person is making an assessing of you.


Les Brown: So this voice that you here was not always here. By being trainedby Mike Williams who’s been my mentor for the past 37 years, out of Columbus,OH, who was born in Coshocton, OH. This brother who dropped out of OhioState University, trained and mentored me over the years. He was my newsmanand I was a community activist and he was during the sixties and I admired him.



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He was a speaker then and I was one of his groupies and went around watchinghim and studying his style. I was fascinated with it. He had a big Afro and wecalled him treetop. Big huge Afro.

Both: Laughter

Les Brown: Like Angela Davis type. Then he came to the station working as anewsman and between the records, convinced me that I can be more than a discjockey, more than the man about town, Les Brown, more than LB, triple p, LesBrown, your planet plan popper, that I can communicate to the planet. He wentabout the business of teaching me and here we are the rest is history.

Bro. Bedford: That’s a wonderful history. I’m sure that many of oursubscribers and hopefully those who will begin to subscribe will really appreciateyour message. Can you tell the subscribers and the listeners, how they can getin contact with you and get a hold of this wonderful training that you have?

Les Brown: Mike Williams and I, we do the training ourselves. In fact, nextyear because of T. Harv Eker, I said oh my God He said Les, did you notice thatout of eighty people, sixty three (63) signed up for your speaker training? I saidyes. He said, “its four days”. I said, yes. He said, Les you charged $2500dollars. He said, that’s too cheap, that’s too cheap. He said, we give four daytraining and they give $20K a head, it’s too cheap. So, people who are coming,they better hurry up.

Both: Laughter

Les Brown: Laughter: because it’s going up my goodness gracious. I said, OhNo! They have sold out. I probably have, if I’m lucky. They’re trying to getanother room. We probably have about five seats available because they boughtthem out. They want to know how could he do this, not knowing the business.They know I don’t know. They know I’m not joking because they ask mequestions and they can’t believe that they don’t know this. (Laughter) How didyou get here? I said, I don’t know.

But there are some things that I do know that I focus on. 1). What was mystrength? What were their weaknesses? And how can I exploit that and makethat my strength? I was thinking in terms of dominating the market.When Toastmasters International did a poll of 51,000 members worldwide toselect the five top speakers in the world, they selected General NormanSwartzkoff, Barbara Walters, Robert Schuler, Paul Harvey and myself. I gotmore votes than all of them combined, which was a great honor. And was



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selected by the National Speakers Association for the Speaker’s Hall of Fame, it’scalled a CPAE Award, where you’re selected by your peers.

To me my goal was/is to create a path for other African-Americans to comedown and once getting here to train them because now you learn, you earn andyou pass it on. Now that I’m in my Colonel Sanders years, it’s time to pass it onto others and that’s what we’re doing in my training summits.

Success is not convenient. Seize the moment.

Bro. Bedford: They can go to www.lesbrown.com?

Les Brown: If they want to sign up, what I’ll do for a special for you asentrepreneurs, it’s $2500. If they call you, you call me and give me theirinformation, well give them a $500 discount.

Bro. Bedford: Yes, sir! You also have a cruise coming up as well.

Les Brown: I have a cruise once a year come up, Cruise Your Way toGreatness. On this cruise, we’ll share with people, the many strategies tocreating multiple streams of income and how to… we’re doing a piece called PutYour Money Where Your Mouth Is. Another one is How to Leverage and BuildRelationships Beyond Our Community.

The other one that is very important is Balance. How do you make it in a worldwhere in many cases there are some people taking care of their parents whiletheir taking care of their kids and run a business. And you have a kid thatdecides to make go crazy, you know. How do you maintain sanity in insanesituations? And there are some strategies.

It’s some of the things that I’ve learned that I think will be helpful to them. Howdo you handle it when you’re an entrepreneur and someone in your family hasbeen diagnosed with an illness? Or you’ve been told you have cancer, like I wasten years ago and so you got two or three years. I beat those odds and saw itas a project as opposed to a death sentence. So those are some of the thingswe’re going to deal with. They can go to our website and register for that aswell.Bro. Bedford: Okay and get all of your books and audios at the website?

Les Brown: Yes, tell them that if they’re serious. This is just for people thatare serious. There’s a set of CD’s called Choosing Your Future. It’s the bestwork I’ve done and I like them and I don’t like them because I don’t think I’vedone anything that’s superior to those yet. It’s a six-week series that was going

http://www.lesbrown.com/



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to be the last tapes that I was going to do before venturing into television. Butthe venture into television didn’t last as long as I thought it was going to. We’redoing something now. But Choosing Your Future, you can get that one online.The other one is called, Presentation Power, Part I & II. That’s a must foreverybody’s library that’s an entrepreneur because it teaches how tocommunicate on the phone, small settings one-on-one and larger groups.

I’ve spoken to over 80,000 in the Georgia Dome. So I teach you things that I’velearned not from the books but from university of hard knocks, but that’s what Iteach.

This takes you up and beyond “The Secret”. Everybody is talking about “TheSecret”. The Secret works very well for white folks.

Bro. Bedford: Laughter

Les Brown: But the stuff that we need, it’s above and beyond. In fact, I’mgoing to do a book called Above And Beyond, The Secret. You know becausewhen we come in there is no secret. (Laughter)


Les Brown: Yeah, we aren’t going to get the business, okay. Let me give youan example. Here in Chicago, just imagine talking about mental conditioning,Chicago, one was considered a very progressive city. Right now it’s a mayor’selection. Where do you live?

Bro. Bedford: I’m in Detroit.

Les Brown: Okay. Chicago has 52% of Black registered voters. Fifty-twopercent of the voters are Black and they voted a higher percentage than whites.White people in Chicago represent 30% of the vote. Now twenty years ago,when Mayor Harold Washington was in office, black people got 44% of thecontracts of a 2 Billion dollar budget. Twenty years later Mayor Daley electedwith 80% of the black vote with two black people running against him. Not oneblack leader endorsed these two black people. One person, Dorothy Brown, is aclerk of court, she’s an attorney, she’s an MBA and she is a Certified PublicAccountant. He (Mayor Daley) was elected with over 80% of the black vote.

Now let’s look at the contracts, twenty years later what percentage of thecontracts do you think that black people get? Now they got 44% twenty yearsago under Harold Washington who was elected with the black vote. What



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percentage do you think they get now with over 80% of the black vote for MayorRichard Daley?

Bro. Bedford: I’m going to jump out there and say probably less than 25%.

Les Brown: Black people get 6% of the contracts. White contractors get 92%,Latino’s get 2% and Black contractors get 6%.

Bro Bedford: That is a drastic, 6% that is a drastic drop.

Les Brown: Yes indeed.

Bro Bedford: Drastic.

Les Brown: Yes indeed

Bro. Bedford: Paradigm shift right, is that a paradigm shift?

Les Brown: That’s not a paradigm shift, that’s mental conditioning. You haveto get underneath that. The level of self-loathing and self-hatred, that has to beinterrupted. What people do what they produce is the result of the conversationthey believe about themselves.

And so, getting underneath that stuff and giving them a larger vision ofthemselves and empowering them to break through the good ole boys networkMindset of we’re going to take care of a few, and you few, you control themasses.

Bro Bedford: Uh hum

Les Brown: Yeah, it’s quite an interesting thing. Quite interesting indeed.Fascinating to watch this stuff.

Bro. Bedford: Sounds like we have a challenge ahead of us.

Les Brown: Oh without question. I think it’s very exciting and I’d like theopportunity to deal with it and I probably, but I got to first go and get thismoney. Laughter

Bro. Bedford: Laughter



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Les Brown: I got to get this money right now. I got another goal over herethat’s got me real excited where I can make more money at home than on theroad. I like that one.

Bro. Bedford: Yes, yes. We probably are going to have to bring you back onto talk about that sometime soon.

Les Brown: Oh man, there’s so much money. This is a 58 Billion dollarindustry. This is an industry, just think about this. We’re the only people thathave more churches than we have businesses.

Bro. Bedford: umm

Les Brown: More ministers than we have entrepreneurs. We have the highestpoverty rate, the highest incarceration rate, and highest crime rate. For everyAfrican-American Male that goes to college, one hundred go to jail

Bro. Bedford: umm

Les Brown: Okay. So as we look at ourselves looking into the future, we haveto incorporate spirituality with practicality.


Les Brown: Bill Gates says the retraining of Americans will be the biggestbudget in this century. We’re going through something that the media doesn’ttalk about. It’s called the three (3) P’s: Purchase, Power, and Parity. The beliefis that over the next 10 to 15 to 20 years as we now are moving forward into theglobal economy, American workers will have to do more, do it faster, do it betterwith less resources and permanent part-time employees with no health benefits.

Eventually they hope to achieve in 15 to 20 years, a level economic playing fieldbecause the only countries that we are in war with are poor countries. We’re notin war with any wealthy countries. Poor countries are what we’re in war with.So when they say we are twenty-five thousand people working for a corporationand they layoff ten thousand people. Those ten thousand jobs don’t go awaythey spread those ten thousand jobs among the fifteen thousand that’s stillthere.


Les Brown: Now that introduces a speaker. Now comes on the stage a trainerbecause now they need to be trained on how to do more, do it faster. They need



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to be trained on how to develop their leadership potential, that fifteen thousandthat’s still there. They need to be trained how to accommodate those new tenthousand jobs. They need to be trained how to raise the level of morale andgive people a sense of certainty in an uncertain situation where there’s no suchthing as job security.

They need to be trained how to optimize the efficiency of the operation and howto create a shift in the mindset of people so they don’t think in terms ofsabotaging the company and come back and shooting people and going postal.They need to be trained on how to accommodate this level of transformationthat’s taking place, this level of work and feel good about it.


Les Brown: That’s where we get paid $25K an hour to do.

BB: Training.

LB: Yes, sir.

BB: Yes, sir.

LB: Let the record show. As I’m telling you it’s a serious business up in hereand one of the few areas that I know that being an African-American, being ablack man is an advantage.

Because when Tony Robbins, or Zig Ziggler or Jack Canfield or Chicken Soup forthe Soul goes on stage and says you have the power to live your dreams, theylook at him and they look at themselves and say, if he can do it, I can do it. Butwhen you and I go on stage and say, you have the power to live your dream,they look at you and think about our history and look at themselves and say, ifhe can do it, I know damn well I can do it. Let me get the hell out of here now(laughter to loud-Smile)

BB: Laughter

LB: As they leave there running.

Both laugh

LB: It’s fun man I tell you.



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Bro. Bedford: I can hear that you are having just a ball doing what you do andthat’s one of the most powerful characteristic that I like, I love about you. Theenergy and the excitement that you bring to what you do

Les Brown: You know what’s exciting to me now? Training somebody, givingthem everything I know to beat me. That’s the most fascinating thing. WhenI’m on the road, I had one of the most powerful moments in my life as aspeaker, when two weeks ago, one of my speakers spoke after I spoke, Ed Bluntout of New York. He’s been in training for two years. A lady came up to me andsaid, “I hope I don’t hurt your feeling by what I’m going to say”. I said, not all.She said, we don’t need you anymore, we’ve go Ed.

I said, well thank you very much. (Laughter)

BB: Laughter

Les Brown: That was the greatest compliment I have ever gotten as a coach.People say that after my daughter speaks or Ed Blunt, Kevin Bracey, JohnnyWimbrey, Erika McKay or any of the other speakers. They always say that. I meanmy top sixteen, and that to me is (pause while a conversation is going on withpeople in Les’ office) a great compliment.LB: Yeah

BB: I’m sure you have to go, correct?

LB: Yeah, but go ahead, you want to ask me another question?

BB: I just want to thank you. I mean you’ve given such a wealth of knowledgeand again I will do some…

LB: You’re a goldmine. Listening to you, what a great voice. You’re a goldmine,man

BB: Well I’m coming to you.

LB: You aught to come down there man in Orlando, FL.

BB: I will be there. I will be there. The other thing that I’m doing, I’ve interviewedDennis Kimbro,

LB: Yeah,

BB: I’m glad you mentioned him



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LB: He is so talented.

BB: George Fraser,

LB: Oh yeah, George Fraser, yes.

BB: Cathy Hughes, the great Cathy Hughes

LB: Uh hum.

BB: And of course in doing what I’m doing, my whole ambition is to lead people toyou all. You all are like the hidden treasures. Every time I’m doing presentations, Ialways ask, do you have Think And Grow Rich, in your library, and to my surprise,no! Do you have Success Runs in Our Race? No!

Les Brown: Uh hum.

Bro. Bedford: Have you had any CD or motivational tape by Les Brown, and no!

Les Brown: Umm

Bro. Bedford: So that’s really my mission I believe is to make sure that we amplifythose who have already been there and done that.

Les Brown: Yes Absolutely.

Bro. Bedford: I really want to lead people to you.

Les Brown: And that’s how we grow.

Bro. Bedford: Um hum.

Les Brown: Well I appreciate it. Thank you. I look forward to working with you.

Bro. Brown: I look forward to working with you too.

Les Brown: Thank you and God bless you.

Bro. Bedford: Thank you, sir and God bless you.



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Conversation with Cathy Hughes

Bro. Bedford: This is Bro. Bedford, from HTBABE.com and I am extremelyexcited at about who is joining me today in conversation. Joining me today isthe Founder and Chairperson of Radio One, Inc., the largest African-AmericanBroadcast Company in the nation. Radio One is the first African-Americancompany in radio history to dominate several major markets simultaneously andpossesses the first woman owned radio station to rank number one in any majormarket.

In 1995, Radio One purchased WKYS in Washington, D.C for $40 million dollars.The largest transaction between two black companies in broadcasting history. In1999, when Radio One went public, Ms. Hughes made history again by becomingthe first African-American women with a company on the stock exchange.

Radio One’s value is currently in excess of $2 billion dollars. Black Enterprisenamed Radio One the company of the year. Fortune rated it one of the 100 bestcompanies to work for and Radio One was inducted into the Maryland BusinessHall of Fame.

Recently, Radio One entered into another venture starting TV One. According toBlack Enterprise, TV One in 2006 was the fastest growing network. Herpioneering work has lead Essence to name her one of the hundred who havechanged the world and one of the most powerful and influential persons.

Radio Inc. continues to list her as one of the twenty most influential women inradio. Ebony sites her as one of the ten most powerful women in BlackAmerican. I can go on, and on and on with all of the business accolades andawards that she has received but we wouldn’t have time for this interview. Sowithout further delay, I would like to thank you, the incomparable and thematchless, Ms. Cathy Hughes. Thank you for joining us.

Cathy Hughes: Thank you Bro. Bedford, the reason that the introduction is solong isn’t because of my accomplishments it’s because of my age. After you liveso long it just gets longer and longer. I’ve been blessed by God to serve mypeople and I thank you for this opportunity to share my story with your readers.

Bro Bedford: Oh, thank you very much and I know you don’t have a lot of timeso well get right to the questions. How did you get your start as anentrepreneur?



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Cathy Hughes: Well number one; I’m a third generation entrepreneur. It’skind of in my blood. My family has always worked for themselves. Mygrandfather, well I’m actually a fourth generation now that I think about itbecause my grandfather’s family were also entrepreneurs. When it’s in yourDNA, it’s just a matter of time before you have to do it. For one thing yourfamily is kind of judgmental about you working for other people. Most of themhave needs in their businesses so if you’re not going to work for yourself, thenyou need to come and help them out.

I always knew that ultimately I would work for myself. The way it actuallyoccurred was I had created a program called “The Quiet Storm” which went onto become the number one format in the history of urban radio. I was stolenaway from Howard University, where I created this format by a group of thirty-six stock holders in a company that was fifteen years old and had been tryingunsuccessfully the entire time of its existence and had gone through millions ofdollars, to get a dark signal back on the air in broadcasting.

Well I was successful in doing that for them. I got them on the air. I completelystaffed the facility. I named it and I picked the format. I did everything fromsoup to nuts, A to Z and then they ran out of money. Well I have never had,thank God, thank God, had a paycheck to bounce. I believe that if a personworks for you, if somebody is not going to be paid, it should be you, not them. Ihad literally started to use my retirement money to pay my staff because thecompany had run out of money.

I went to them and said, “You all need an infusion of capital”. They said, “wewant you to put together a proposal and go and shop for a loan for us”. I said,“excuse me, I’m a General Manager, I’m not an owner of this company and if Igo out and secure a loan for you which is outside my area of responsibility, Ithink that I should be entitled to an equity stake in your company.”

Well they laughed at me. The youngest person on this board was seventy yearsold at this time and I was probably thirty-eight or thirty-nine. So to them I wasa young arrogant whippersnapper, with a lot of mouth. They said, “No we’re notsharing. We’ve been together for fifteen years; you don’t know the sacrificeswe’ve been through.” So I’m like yeah, but it wasn’t productive. I'm the onewho got you on the air. One word led to another and they said, “Well if youthink you know so much, you need to go and buy your own radio station”. Wellboom, it was like a light bulb went off in my head.

It dawned upon me, how stupid was I being. This group of distinguishedindividuals, thirty-six of them thought that I had the ability to get them a loan.So if they had that level of confidence in me securing a loan, I should be able to



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do that for myself. I need to have more confidence in Cathy Hughes and Ithanked them. I started putting my things in my briefcase and they said, “Whatare you doing?” Resigning! They said, “Why are you resigning?” I said, “because you told me; I need to go and get myself a loan because I need to buya radio station”. And that’s how I became an entrepreneur.

I say to young entrepreneurs and young people all the time; sometimes whatyou think is your darkest hour, is in fact the blessing that God had intended foryou to receive. But we don’t see it because we want something else and we’reso hell bent on doing it our way and getting what we want, but we don’t seewhat God has in store for us.

On that day I’m telling you it was as if the heavens had opened up and I saw itcrystal clear.

Bro Bedford: That is such a wonderful story and as you were telling it, I ofcourse read your history and I noted that there were some challenges when youwent out to acquire your station. What were some of the major challenges thatyou faced in your beginning?

Cathy Hughes: I was black. I was female and I was considered young.

Bro. Bedford: All of which you could not change.

Cathy Hughes: Yes all of which I could not change and I was in the childbearing age. I can’t tell you how many bankers said to me, “you might getpregnant”. Yeah, well what does that have to do with you loaning me a milliondollars. I had more male bankers spend more time questioning me about mypersonal life than I did talking to me about my business acumen

At that time I didn’t realize and again I say this to entrepreneurs, this is socritical. You have to have a productive working relationship with a bank. Whenyou don’t have and most African American do not have a close relationship witha bank.

Black preachers are the worst. On Monday morning they put hundreds ofmillions of dollars collectively into these banks around the country. And thenwhen they want to build anything new, they have to go and beg for a loan.They don’t have relationships with a bank where they can say all right not onlyam I going to take my money out of here but I’m going to get ten otherpreachers in this city to take their money out of here too.



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Black people don’t realize the importance and I didn’t at that time. I had no ideathat more often than not in securing financing, it’s based on a relationship. It’snot based on a business plan. It’s not based on the dream or the vision youhave and it’s not based on your credentials. In so many of these situations, it’sbased on a relationship that somebody already has with a lending institution.

Bro. Bedford: I get that question a lot. Just this morning, I received a coupleof emails from individuals and that was their main question. How do I go aboutacquiring financing to get started or to do this or to do that?

Cathy Hughes: Absolutely.

Bro. Bedford: Yes so a relationship has to be built.

Cathy Hughes: A quick story, I had been in business for about eight or ninemonths, it was my first year. Within ninety days of me going into business theprime went into the mid twenties and my senior loan with Chemical Bank of NewYork was 2.5 points over prime. For one of those quarters my interest rate wasat 28.25%, can you imagine?

Anyway, a long story, short. I’m concerned about payroll because I’m trying tokeep up my loan payments and my revenue or my cash flow hasn’t started toreally be adequate to cover my expenses. I go to my bank where I had alreadydeposited about 7 or 8 hundred thousand dollars over that time period and toldthem that I needed a $10K loan. I had a 10k short fall on payroll that I wasconcerned about and I needed a temporary $10K loan. I showed them acontract from an advertiser. I had $32K coming from and advertiser at thattime, it was just not going to hit my account in a timely fashion to make surethat my payroll checks were secure and they told me no.

They would not loan me $10K. I could not tell you, how again the heavensparted and light bulbs went off in my head. I realized that if had been standingin front of that loan officer asking for $30-40 thousand dollars to buy a MercedesBenz, they wouldn’t have blinked, okay. I could buy any car I wanted for anyamount of money I wanted, but they would not give me, a black businessperson$10,000 to make certain that my payroll was secured and covered. When I hada contract that showed them that I had $32K coming in within the next 30 days.Again, I realized relationship.

Once I got the relationship, I love to tell this story. My lease was up on abuilding and I needed to move. A banker whom I did not know, a womannamed Karen Calious, who was one of my listeners to my morning show. At thattime, I was doing everything, hosting the morning show and running the



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company. She realized that I was very close to losing a location for my facilitybecause the District of Columbia, where I was located was supposed to bemaking one of these small business loans available to me and they didn’t. I hadgone to closing on the building I needed to move into twice and both times theywere dry closings. Nobody was there from the District of Columbia to fund theacquisition and I was coming dangerously close to my company being homeless.

Long story short, she calls me up and she says you do not know me but I listento your station every morning and I listen to your show. I have researched youand I have tracked you and she said, you have another closing and this will beyour third and if you don’t come forth with the funding you will lose the buildingyou’re trying to move your station to and I said yes. She said well I tell youwhat; one of my loan officers will be there next Tuesday. We’re going to fundthe property acquisition for you. I said okay, what time should I meet themthere and she said, you’re far to busy to have to meet us there, we’ll take care ofit and the loan application will be in the mail. I filled the loan application out twoweeks after the property was already purchased.

That is what you call a banking relationship

Bro Bedford: Yes it is. You are such a pioneer and a trailblazer. Youmentioned the “Quiet Storm” and all of us listen to that but we don’t know wherethat originated. How did you come up with the concept of doing “The QuietStorm”?

Cathy Hughes: When I became the General Manager of Howard UniversityRadio, WHUR, I was really excited about the opportunity but I also was verymuch aware of what I needed to learn. So I approached Howard University andI asked them if they would allow me a six-week sabbatical to go the University ofChicago and take a summer course called Physco-Graphic Programming. Whichthey said, “yes as long as they didn’t have to pay for it, I could go”. So I went atmy own expense and I learned about programming a radio station to fit thelistener’s lifestyle.

This was before morning talk shows were popular. This was before talk radiostations were popular. What I learned in that six week class was that you canhave a very successful format if you hit the right time with your audience andyou service their desire. I was in Washington, D.C and DC has always beennotorious for this overpopulation of women professionals who were basically manless and dateless on Friday nights. The Quiet Storm started off as a Friday nightexperiment to entertain women who didn’t have dates for the evening.



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That’s how I promoted it and that’s why I created it and then I went from Fridaynight, to Saturday night, to Sunday night and the rest is history. It went fromone night a week to seven nights a week. Then it went from Howard Universityto, in its hay day, four hundred and eight five stations used my format. It wasspecifically created to entertain people who were dateless. Who were single andwanted companionship and wanting company.

Bro Bedford: Wow! I’m just blown away by the way you have pioneeredcertain things and again not knowing. I’m a big talk radio format fan. I just lovelistening to talk radio. Then to find out that in your initial stages of getting yourfinancing, you had to overcome that obstacle or that hurdle of being a talkformat or music format. Didn’t you have that challenge?

Cathy Hughes: They told me that black people could not talk and thatadvertisers would not support black talk. But let me tell you, the interestingthing was I had a battle with the advertisers. I had a battle with the lenders.They way I ended up on the air was quite by accident. I had to host themorning show because my lending institutions told me that I was the first 24-hour news talk format from a black perspective in the United States.

My lenders told me, number one, news talk as you well know, is the mostexpensive of all the formats. It’s a lot cheaper to just have a D.J. there spinningrecords. When you have a news talk format, you have to have news people.You have to have wire service. You have to have producers, researches andthen you have to have hosts. So they said it’s to costly, go back to doing music.

But I refused to go back to 24 hours of music because I had done research onwhat format was needed and wanted by the Washington, D.C. community andwhat they said overwhelmingly was that they wanted more news and informationabout themselves. They said they could turn on any station and find out whatwas going on at the White House or your know in Chicago or Poduck, Idaho butthey could not find out what was going on in Southeast, D.C., which had thehighest percentage of black residents at that time.

So I knew that this was a needed format, a needed service in my community. SoI started hosting it myself, but initially those first several years. My biggestbattle did not come from my advertisers, or my lenders, it came from myaudience itself.

My audience felt that because some black people may have left an “S” off of averb or put on one, that they were embarrassing their entire community. I saidnow wait a minute; one person cracking a verb does not bring the whole black



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community down. My community is not that shallow and if you think that it is,then maybe you need to join somebody else’s community. Okay.

I said, “and plus we’ll get the swing of this we’ve never been allowed to expressourselves before”. Oh I would get petitions from schoolteachers. I got a petitionone day from 300 hundred black schoolteachers signed that said that myprogram was anti-intellectual and that I was embarrassing the black community.I said, “you all are the embarrassment to the black community that you would beso ignorant to send this type of petition in here and try to stop black people fromexpressing themselves. “

Then I had to really get a little heavy handed with them and I said if these blackbrothers and sisters don’t know how to talk correctly on talk radio it’s becauseyou have not been doing your job, you’re the teachers.

Bro Bedford: They got failed somewhere

Cathy Hughes: Thank you. I said is this an apology. Then I read the petitionon the air and read off their names. Well that was the last time that anyone eversaid that black folk should not be allowed to talk in public. I just literally put aspot light on them. I said how dare you all be embarrassed by your own people,you know.

Bro Bedford: Yes, yes. You know with my subscribers and this has beenstrange to me, not strange in fact that it cannot happen, but when I first started,How To Be A Black Entrepreneur.com (HTBABE), of course, my initial subscriberswere male. Today my subscriber base is between 70 to 75% female.

Cathy Hughes: Wow!

Bro Bedford: So my question to you, if you were to advise someone who isinterested in becoming an entrepreneur, particularly black women, whatshould be their first steps?

Cathy Hughes: The first step for any entrepreneur is to clearly define what it isthat you want to do. Ideas are like noses, all of us have one and we have toreally quantify and qualify our ideas because everyone has dreams andaspirations. You have to do research, you have to read, and you have to bestudied on what it is that you want to do. Unless, and I say this to a lot ofwomen, unless you are already doing it.

So many black women are already entrepreneurs and don’t realize it. Some ofus have already been entrepreneurs since when we were in Jr. High school,



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braiding all of our friend’s hair, okay, or cooking for some function, orresearching a term paper for someone else or back in the days beforecomputers, typing a term paper for somebody. So many of us were alreadyentrepreneurs and didn’t realize it. Babysitting, cleaning somebody else’sdorm room in college to make a few dollars, okay.

I’m like well if you’re making enough money to pay your tuition in collegecleaning up everybody else’s dorm room, have you ever given any considerationto the possibility that maybe you should hire some other people and take overthe whole campus? Ok, open a company! So you have to clearly define whatit is that you want to do and quantify and qualify it and not just allow it to be adream. It’s like I said, dreams are like noses, we all got dreams and ideas onsomething we can do.

The most important aspect of a woman going into business I think is reallyidentifying and forming a support group. So often, people who love us feelthe need to protect us and they sometimes over protect us and make ussqueamish and afraid to be adventurous. You have to be bold andadventurous if you’re a woman going into business. Even though more andmore and more women are going into business, it’s still a male dominated game.

So often in my case it was my mother. I can’t tell you, my mother would cry andbeg me to please get a government job, you’re in Washington, D.C., you’resmart, people like you, give up you’re sleeping on the floor in a sleeping bagCathy. People think you’ve lost your mind, that you had a nervous breakdownwhat’s wrong with you. Go and get a good government job and stop trying.

My mother was not trying to stop me from being a successful entrepreneur, shewas worried about me. She was scared for me. I had lost everything to try tohold on to this business and she was ready for me to throw in the towel out oflove and protection. But guess what? It was also discouraging.

So I started lying to my mother. When she would call, she would say have youturned it around? I would say, oh yeah momma things are just great. But guesswhat? In lying to my mother about my business turning around, and doinggreat. I started to believe it myself. And once I started to believe it myself,guess what? It started to happen.

So I tell women so often that your husbands, your brothers, your sisters, yourmothers, your daddy, your neighbors and sometimes even your financial advisorsand your lawyers are the first to want to protect you.



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It’s so interesting, black women, we don’t get a lot of help, but we get a lot ofprotection “allegedly”. A lot of advise on what we should be doing whichdiscourages us because as black women we’re full of passion and emotion.

So if someone tells us we’re making a mistake, most of us unless we’re justknuckle heads, most of us will stop and analyze it. Am I really acting crazy? Iam sleeping in a sleeping bag, like my momma said and cooking on a hot plate.Maybe I am not really realizing. Okay.

So you have to put on blinders. You have to be myopic. You have to keep youreye on the prize. You cannot sometimes share with people. You have to lie.When people say, how is it going? They maybe getting ready to foreclose onyour underwear, but you got to say, I can’t tell you today was just fabulous.

Both Laugh

Bro Bedford: The best day I’ve had

Cathy Hughes: The best day I’ve had since I’ve been in business. Like I said, ifyou say it enough, the first person that you’re going to convince is yourselfbecause who’s hearing it more than anybody else, you.


Cathy Hughes: Your attitude really does determine your altitude. Yourattitude determines your altitude. But like I said, with women we normally can’tget a lot a financial or other help. Sometimes you don’t need the finances; youjust need someone to give you a helping hand. But Lord have mercy, do peoplegive us advice under the guise of I’m just trying to protect you. I’m just trying tolook out for you. Well if you’re trying to look out for me, loan me that $10K Ineed to make payroll.

Both Laugh

Okay. I don’t need you discouraging me. It’s funny because people want to bepolitically correct. They don’t say to you point blank that you shouldn’t be doingthis. They say things like; well do you think it’s really worth it? Do you thinkthat you’re maybe sacrificing too much? What about you? What about your ownpersonal life?

I’m trying to build a business right now; my business is my personallife.



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So I tell women, don’t get discouraged and try to find somebody in a comparablesituation, if not maybe the same situation but a comparable situation.

People are amazed because entrepreneurs call me frequently and their like, youtook my call. I’m like yeah because I can’t tell you how lonely it was for mewhen know one would take my call.

I say it might take me a few weeks and sometimes, if I get back logged maybe acouple months. I’ve called people back and they’re like I forgot I called you Ms.Hughes. I say, I will return your call; you’ve just got to be patient becausesometimes it’s just a word of encouragement that we need to get over thehump.

Bro Bedford: Wow that’s beautiful. I saw you on the Tavis Smiley’s State ofthe Black Union the other day. I listened and watched just as I just heard youspeak now, when I listen to you, when I see you, I hear a woman with passionand drive. Will you expound on your passion and what drives you?

Cathy Hughes: God. I have a firm belief that God has used me as aninstrument to be a voice for my people and as a vehicle for the upliftment andbetterment for my people. I have twenty five hundred employees, of that abouttwenty-two hundred are of African decent and of that about 44% are women.

That’s not me. That’s not a result of anything special about me. That’s a classicexample of God using an ordinary woman to do extraordinary things for otherindividuals.

My motivation, my passion, my commitment, my determination is all predicatedon this deep, deep, deep, deep commitment and desire to leave my communityjust a little bit better when I close my eyes for the final time, then it was when Iopened my eyes for the first time.

I love my people. I love my community and I feel that it is an obligation that Ihave been charged with and a responsibility that I welcome to help as manyblack folks as I possibly can.

I believe in the old adage “that a rising tide, lifts all boats”. So I feel thatGod has allowed my boat to rise with the tides, so that I can bring some otherboats up with me.

Bro. Bedford: That’s beautiful. I know you have to go but I have one lastquestion if you don’t mind.



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Cathy Hughes: No go right ahead.

Bro Bedford: Yes. We just talked about your passion and your drive and in factjust many traits and characteristics that you have that just flow out of you. Butwhat trait or characteristic do you think a person must have, if they are toachieve success as an entrepreneur?

Cathy Hughes: Integrity. Your word must be your bond. Again if I couldjust share with you a little bit, I’m the Time Warner Endowed Chair for theHoward University School of Communications. I tell my class frequently thatintegrity; your word has to be your bond. You know the Japanese don’t uselawyers; their word is their bond. They have a thriving economy based on thefact that you have to be an honorable human being.

I tell my classes that one of the biggest mistakes that entrepreneurs make is thatthey run from the people that they owe money to, their creditors. When theyknow that they can’t make the payment, and we do this so much in our personallives to. I say to them what I’m getting ready to share with you will work in yourpersonal life as well as in your business life.

When you owe someone something, you have given them your word that you’regoing to pay them back. So when you’re not able to, you owe them anexplanation or at bare minimum a notification that you’re not going to be able tolive up to your word.

So I tell them, I use this strategy and it’s why I was never foreclosed on. WhenI couldn’t make my payments, no creditor had to call me because I was callingthem saying listen, Bro. Bedford, I am so sorry. I know I owe you a $1000, Idon’t have your $1,000 dollars next Tuesday when it’s due, but I do have $200dollars and I’m going to send you that $200 and I’m going to make good on that$800 dollars that I owe you as soon as I possibly can.

No I can’t tell you exactly when that day is going to be, but I’m going to sendyou $25, $50 or $100 dollars the next minute I get my hands on it so that I canretire this debt as soon as possible. But I want you to know that I acknowledgethat I owe you this $1000 dollars and Bro. Bedford, my word is my bond, you willbe paid.

Every single solitary one of my creditors got some type of payment from me. Itwas so interesting because oftentimes I would get a letter back saying, “heyyour payment is so small that it’s not worth us processing it and obviously youneed it more than us, here’s your check back.”



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Both Laugh

Okay, I was like thank you Lord, it worked I needed that check back, okay.

I tell people, it’s the same with your personal life. I can’t tell you over the yearsas I was growing in my business as well as my personal life, I’d be at one of myfriend’s house and the phone would ring and it would be a bill collector andthey’d say, “tell them I’m not here, tell them I’m not home.” I’d be like no youneed to say that you are here and that you don’t have their money. Okay. Itmakes a big difference.

Integrity I think is the most important trait because if you require that ofyourself, the universal order of things, the God given force that controls thewhole universe that keeps the Sun up in the sky and keeps the planet Earth frombumping into other planets. There is a universal God force at work, 24/7 and ifyou’re a person of integrity, then that’s what will be drawn to you. If you try tobe slick and avoid the people that you owe money to or cut corners or not liveup to your word, well guess what that’s what you’re going to attract.

So in my opinion, integrity is the most important characteristic to be a successfulentrepreneur.

Bro Bedford: Ms. Hughes, I cannot explain and words do not describe that thishas been a highlight for my career thus far.

Cathy Hughes: Oh aren’t you a kind person thank you.

Bro Bedford: No, I really appreciate you. I mean I’ve heard numerous greatthings about you. But to personally get an opportunity to speak to you and feelyour spirit has done wonders for my soul. Thank you very much for your time.

Cathy Hughes: Thank you. God bless you and I pray that in the not to distantfuture you will have one million subscribers to your services.

Bro. Bedford: Thank you very much.

Cathy Hughes: Thank you so much for the honor of being included.

Bro Bedford: Thank you.

Cathy Hughes: Bye-Bye.

Conversations With Black Millionaire Entrepreneurs

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