Cliff Notes: The Keys to Having a Successful Business - podcast episode cover

Cliff Notes: The Keys to Having a Successful Business

Jul 17, 2022•16 min
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Episode description

In this Cliff Notes we went over the secrets of success in business. #business #tips #earnyourleisure 

Link to episode: https://youtu.be/368aVWMsMa0

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Transcript

Speaker 1

Coach, the energy out there felt different. What changed for the team today?

Speaker 2

It was the new game day scratches from the California Lottery player is everything.

Speaker 3

Those games sent the team's energy through the roof.

Speaker 1

Are you saying it was the off field play that made the difference on the field.

Speaker 3

Hey, little play makes your day, and today it made the game.

Speaker 1

That's all for now, coach, one more question play than you Los Angeles Chargers, San Francisco forty nine Ers and Los Angeles Ram Scratchers from the California Lottery.

Speaker 3

A little play can make your day. Peace made responsibly.

Speaker 1

Must be eighteen years or older to purchase late or claim.

Speaker 4

What are three tips to grow your business that you've never shared before?

Speaker 2

You guys want to kick it off first because I think they want to hear from you. I'm going I'm diving on.

Speaker 4

Yeah, for sure, I feel like, you know, to grow a business, once again, going back to the core principles of it, you have to have something that's scalable to grow. That's the first part when looking at a business plan and looking at starting a business. You have to start a business that even has the ability to grow. And what I mean by that is like you know, mom and pop up stores, local restaurants, barbershops. Although yes, they all in theory can grow, but nine times out of

ten they won't grow. So that to me is something that you should already kind of have in your mind. How can I start a business that is scalable? So online businesses are scalable. Businesses that don't require a large amount of overhead are scalable. Businesses that don't require a large amount of employees, especially at the beginning, are scalable. So these are all things that you know, we've highlighted a ton of them before as far as you know in the e commerce space, but even in the media

space as well. You know, this is like what we're doing as far as on the media and education side. That's those are all scalable models. And then also you know, thinking about starting businesses that you can have multiple different revenue streams from without reinventing the whale or re changing the business model. Once again, you know, it's one of these things to say, Okay, I can start a podcast, but I can also sell merch because I have to

wear something. And then I can do a live show, and then I can do YouTube, and then I can do tutorials and you know, master classes and educational courses and things of that nature, where is you're not doing something completely different, but you're just growing, you know, latterly.

And I think that's something that you know, when you're looking at a business, you should definitely look at to say, Okay, is this something that I could put in place early on and kind of have the idea and the vision and then kind of reverse engineering after that point. And I also think, you know, starting a business that that really has impact. I think a lot of times we

start businesses that that's a great lesson just to make money. Yeah, Like you know, it's like I'm gonna sell nail filers because you know, it's like, all right.

Speaker 3

That's cool to those with their files for they kill us.

Speaker 4

Yeah, and you can make a lot of money doing that. But I just feel like, you know, ultimately, the businesses that are impactful, that have a you know, a tremendous impact on people's lives and have a purpose deeper than just you know, making a quick buck, that's something that's

going to help you in business. So you know, finding your passion, finding your purpose is extremely important and seeing how you can benefit and help people, because the more people that you help, the more money that you make. So you know that's that's like you know, amous, that's a big lesson, So you just drop. Don't the more people you help, the more you're gonna make.

Speaker 2

Please put that in chet, I know something you're gonna skim over that.

Speaker 5

That is an equation though, yeah, sure ty, yeah, I mean that was like ten right there.

Speaker 3

But I would just add to it, prepare for success.

Speaker 5

A lot of times people go into business and they hope, right, and they don't really they don't envision themselves being successful. This is like, I'm gonna try it just because I want to make more. Like you said, I want to make more money, but prepare for success.

Speaker 3

I think.

Speaker 5

Shout out to Pinky. We had a dope interview. If you didn't check that out, congratulations, she played yourself.

Speaker 3

But she asked her.

Speaker 5

We asked her about scaling and I was like, why don't you franchise this team?

Speaker 3

She's like, I could.

Speaker 5

I could be a billionaire by next year if if I decided to franchise. But my business is like my kid, My business is only three years old. Did you know how to speak? Franchi at three years old? And she was like, my business has to grow, it has to mature, and so all.

Speaker 3

Those things we don't bring you one, I'm gonna bring you on in a sect.

Speaker 5

She was like, my business has to grow, and so it has to mature the same way a kid has to. Like, you're not going to be running the one hundred meters at three years old, right, You're not doing that, And so you got to treat your businesses like that.

Speaker 3

And that's how you prepare for success.

Speaker 5

She knows that it's there, she's just making sure that she does the makes some proper steps and has everything in line and systems in place and people in place, so that when the success is ready to be fully executed on.

Speaker 3

You should be ready as well. So prepare for success for me some similar to what you guys said.

Speaker 2

Number one, know what the vision is. So for me, my goal is to be able to help six billion people on the planet learn about investing and make where to get in and where to get out easy for them. Number two, know when it's your season to retreat. So after we created a landscape for people to talk about investing and be comfortable being black doing so, it's a lot of people.

Speaker 3

That popped up talking about investing. That was my time to retreat.

Speaker 2

Now that the economy has shifted and people didn't know their prices as well as I did.

Speaker 3

Now it's my time to go into the attack.

Speaker 2

So you guys have had competition quote unquote and copycats, but I've seen you layer on, move around it in different genres and become bigger and be omnipresent. Right, So for me, it's just no one want to pour on more. So for me in a recession, it's my time to help more people, because guess what, when everyone's making money,

no one wants to hear be disciplined. Wait for a bitcoin to go to twenty k, apple to go to ninety four bucks, right, but then when everything falls apart, it's like damn, it's really just y'all and trap helping out. Come to invest fast, and we will give you some game about how to make money even in the down market. But those are my three tips. No one went to attack. When it's your season to ply your business to next

no one want to retreat, and to build proof. And then you have to have a big vision.

Speaker 3

From ernest what's up.

Speaker 5

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Speaker 1

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Speaker 3

You need from people you're want to help.

Speaker 4

There, you have dang, there, you have it all right. So now we're going to bring on a guest, very special guests. So my god to B. D. Stevens. He's the plug that introduced us to Steve Harvey. And it's a good story because he actually, I think his official title is the head of Business Operations with Steve, so he kind of handles all the business stuff for him, and you know, he got him into all these different

investments in the stocks. He spoke about it on the episode if you watch the episode, and he spoke about it when he was on Market Mondays last week as well. But Tabidi is somebody that we developed a relationship with and not only is he very intelligent and you know, a whiz kid when it comes to invest in but just in business in general. Like I said, he kind

of handled all of the business operations. So when you talk about the team and like when Steve says, like, you know, I'm not the most technical person, but I have technical people on my team, Like this is one of the people that he's actually referring to, so definitely on his way to being, you know, one of the biggest mobiles in the game, and he's with the right person. And I think it's important to highlight, you know, the

people behind the people. A lot of times, like you see a celebrity and it might be Rick Ross, it might be Steve Harvey, it might be Ti whatever, and you know, it's dope to get the game from them, but you got to understand that they're relying on council and their counsel is probably even more valuable because that's the people that's actually giving them and providing them the information. So it's very rare that you get to speak to the council. It's very rare you even get to speak

to the celebrity. But you get to speak to celebrity a lot of times, but you don't really get to speak to the council, to to the people that's actually advising these people and actually telling them like why this is a good move, why this is a bad move, and brokering deals broken in the relationships. So this is one of these you know, inside inside conversations that you guys can be a part of. So without further ado, we'll bring on a guy. What's up and.

Speaker 6

What's going on?

Speaker 3

Everybody, what's good? Man?

Speaker 6

I'm like, what's good?

Speaker 4

Well, good man? Thank you for joining us. Man. So, y'all, I was just giving the intro and kind of just breaking it down, so I got a lot of questions. But before before we start, I think it'll be dope because it's a good story actually for you to tell how you began working with Steve Hall, because we kind of heard it from his side when he was on the show, but I would love to hear it from from your side.

Speaker 6

Definitely. Definitely. Well, uh, once again, appreciate y'all for having me. Man.

Speaker 7

As y'all say, y'all are the biggest finality. They even really do interviews often, bro, So I appreciate you guys. But honestly, man, like I said, I went to more House or as you guys know, I went to Morehouse so for business administration, but the concentration of marketing and psychology, so you know, I just wanted to understand, like how people thought a certain way and why they thought a certain way. While I was in school, I actually started

a shoe company. So I was manufacturing, producing my own canvas and leave the shoes, so similar to Times and Nikes, and it was called Steps by Stevens. So for every pair of shoes, I sold over buy meals to women and children shutters nationwide. With my business partners at the time, Malcolm Connor and mister Harvey's son, progerct Hart, was actually doing all our creative directions. So that's kind of how I got introduced to mister Harvey. So I did that

all throughout college, did extremely well. One on his talk show one day to kind of promote our product. When I came on stage, his CEO at the time, he was like, hey, he should come work for me, And of course I was like, man, I got my own company.

Speaker 6

At the time, I'm.

Speaker 7

Good, bro, Like, you know, I'm clearly here selling shoes. But some times went by and I just spent time around the harvest, but volunteered their mentorship camp. You know, they have the National Mintronship Camp where they mentor you know, two hundred fifty followers boys. So I participated that and kind of just built a reputation for myself there.

Speaker 6

It's like a hard worker.

Speaker 7

And then one day mister Harvey called me and was like, listen, you know, I want you to come on to be a part of this team.

Speaker 6

Like what are you about to do?

Speaker 7

I had just fidled out with my company, as you all remember, you know, twenty fourteen, China had a bit of a recession and I had about seventy five thousand and raw materials over in China.

Speaker 6

And at the time, I didn't have any.

Speaker 7

Credit because I was twenty one years old, so I didn't really have any credit. So of course that was all my cash. I didn't know much about credit, and I won't give me a line of credit. I couldn't get the materials over, so I end up. You know, one of my failures that kind of led me into where I am now was the fact that, like my shoe company fizzled out because I made a bad investment. So Miss Harvard's like, what are you about to do? Of course I was, you know, I'm about to go

to Harvard. I got axcepted to every Harvy League in the country, so I was gonna go to Harvard. I was gonna go to Harvard and get the executive NBA and then mister Harvey basically asked, you know, what are you going to Harvard to and I told him, you know, meet JFK's grand count son and so on and so forth, because you know, essentially a lot of people go get

their NBA to network. So he asked me, if I can get a better network and make the same amount of money, if not better without going to school, would I do it? And at the time, I said no, left his house to got in my car and on the way home, I was like, man, that's actually a great opportunity. So I gave him a call like, yo, mister Harvey, you know if I come by the house tomorrow, and from there it was a route. So I just

started doing research and development. At the time myself brought the apartment's got see the Davis that worked on a deal.

Speaker 6

That at the time.

Speaker 7

What I didn't know was, you know, they said Stretcher was one of the best deals that.

Speaker 6

It came through the company at the time.

Speaker 7

And after that is the Harvard's like list, I just want you to kind of view with me on a day to day and from there it was around this kind of game more and more responsibility that I saw people not you know, taking opportunities that were clearly in front of them.

Speaker 8

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Speaker 3

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