Latest / The Steve Harvey Morning Show / Small Town Success Story: Oversees Rolling Stone, Dick Clark Productions, Robb Report, Variety and SXSW.

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Small Town Success Story: Oversees Rolling Stone, Dick Clark Productions, Robb Report, Variety and SXSW. · The Steve Harvey Morning Show

• 0:05
  Speaker 1: Welcome to the show. I am Rashan McDonald, the host
• 0:08
  Speaker 1: of Money Making Conversations Masterclass, where we encourage people to
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• 0:22
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  Speaker 1: Money Making Conversations Masterclass. Hello, this is Rashan McDonald. Thank you,
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  Speaker 1: twenty twenty four Fall Membership Benefits Drive. I'm hosting this out.
• 0:45
  Speaker 1: I'm also hosting Money Making Conversations Masterclass. I have two
• 0:49
  Speaker 1: fantastic guests that are joining me on the show today.
• 0:52
  Speaker 1: I am Rashan McDonald. I host the weekly Money Making
• 0:55
  Speaker 1: Conversation Masterclass show. The interviews and information that this show
• 0:58
  Speaker 1: provides offer everyone. It's time to start reading other people's
• 1:02
  Speaker 1: success stories and start living your own. I'm here to
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  Speaker 1: and I consider you to be a guest on this show.
• 1:21
  Speaker 1: The guest I'm about to introduce you did not fill
• 1:23
  Speaker 1: out a BS guest form. I met him in Austin,
• 1:27
  Speaker 1: Texas at the south By Southwest event. Let me give
• 1:30
  Speaker 1: give you a little background on him. He serves as
• 1:33
  Speaker 1: the executive vice President of Operations and Finance for Penske
• 1:37
  Speaker 1: Media Corporation that's PMC. In this role, he oversees all
• 1:42
  Speaker 1: operations and financial decision makers affecting the various operating companies
• 1:47
  Speaker 1: across pmc's portfolio of award winning brands. Check out some
• 1:53
  Speaker 1: of the brands, y'all get closer to this Radio rolling Stone,
• 1:59
  Speaker 1: bill Board Variety, The Hollywood Reporter, Vibe, the Rob Report,
• 2:05
  Speaker 1: she S h E Media, Dick Clark Productions, Illuminate, Sporty Coal,
• 2:11
  Speaker 1: and south By Southwest. That's where I met him. Please
• 2:14
  Speaker 1: welcome to the Money Making Conversation Masterclass. Paul Raining.
• 2:17
  Speaker 2: How you know, Paul, I'm doing very well. Thanks so
• 2:21
  Speaker 2: much for having me on the show.
• 2:22
  Speaker 1: I didn't set you up too big, did that?
• 2:24
  Speaker 2: Paul, No, no, I appreciate, you know, giving up flowers
• 2:27
  Speaker 2: while I'm still living. Well.
• 2:29
  Speaker 1: You know, here's the great thing about it, Paul, you
• 2:32
  Speaker 1: got more to do, you know. And but we're gonna
• 2:36
  Speaker 1: talk about this journey. When I say things like that,
• 2:38
  Speaker 1: and you're an African American man, does it? Does there's
• 2:43
  Speaker 1: a journey to get there? Can you give us your
• 2:45
  Speaker 1: academic background and how how you got this all started
• 2:50
  Speaker 1: to get to this point. I know this is going
• 2:52
  Speaker 1: to be steps, but I want to get to the
• 2:54
  Speaker 1: opening south of your academic training.
• 2:57
  Speaker 2: Yeah, you know, I would say my first training was
• 3:00
  Speaker 2: at home, thank you, from a large family and a
• 3:03
  Speaker 2: rural part of Arkansas, Cleveland, Arkansas, with fifteen brothers and sisters.
• 3:07
  Speaker 2: And know, my dad had his own logging company, So
• 3:10
  Speaker 2: starting out at a very early age really learning how
• 3:13
  Speaker 2: to treat other people, treat clients, and just really learn
• 3:15
  Speaker 2: about business from that perspective at home from him and
• 3:18
  Speaker 2: my mom. But then I did go into the University
• 3:20
  Speaker 2: of Notre Dame and received a bachelor's in finance and
• 3:24
  Speaker 2: computer applications and then got a master's in accounting at
• 3:27
  Speaker 2: the University of Notre Dame as well.
• 3:29
  Speaker 1: Now let's talk about to your father. That's entrepreneurship, right,
• 3:32
  Speaker 1: a business, small business owner in Arkansas.
• 3:35
  Speaker 2: Yeah, absolutely, entrepreneurship. You know, he did a lot of
• 3:38
  Speaker 2: different things, whether it was early in his life. You know,
• 3:40
  Speaker 2: he's talking about the nineteen forties fifties, helping people get
• 3:44
  Speaker 2: out to the workplaces, whether that's a sawmill or out
• 3:47
  Speaker 2: into the fields. And then he dis continued that journey
• 3:50
  Speaker 2: on to tarten his own logging company for over twenty
• 3:52
  Speaker 2: five years.
• 3:53
  Speaker 1: That's that's really amazing. I always hear these stories about,
• 3:56
  Speaker 1: you know, black men because we know Arkansas rule and
• 4:00
  Speaker 1: I'm from the south eastern Texas, so I understand racism.
• 4:03
  Speaker 1: I understand areas of the country that treat black people
• 4:07
  Speaker 1: a little bit different and certain situations, especially when they
• 4:11
  Speaker 1: don't consider us deep to be equal. And he was
• 4:14
  Speaker 1: being successful on entrepreneur in an time period in a
• 4:19
  Speaker 1: area of country that one would say, wow, how was
• 4:22
  Speaker 1: he able to pull that off? Paul? If you can
• 4:23
  Speaker 1: share that information with.
• 4:25
  Speaker 2: My audience, you know what I say. One, you know,
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  Speaker 2: he had courage, you know, the courage to be the
• 4:31
  Speaker 2: first man to go into the bank and ask for
• 4:33
  Speaker 2: a loan.
• 4:34
  Speaker 3: You know, the.
• 4:34
  Speaker 2: Courage to step up in his community and try to
• 4:38
  Speaker 2: offer a service when when no one else was providing
• 4:42
  Speaker 2: that services in our community or outside of community, making
• 4:44
  Speaker 2: sure people could get to the workplace. So I would say,
• 4:47
  Speaker 2: just the courage and then leaning in on the community
• 4:51
  Speaker 2: and being a part of the community. And I think
• 4:53
  Speaker 2: the community leaned into him. And I think that especially
• 4:57
  Speaker 2: in that time, the courts of his own own family,
• 5:00
  Speaker 2: his own community and then having the courage to step
• 5:03
  Speaker 2: out there when no one else was really helped us
• 5:06
  Speaker 2: do that early on in his life.
• 5:07
  Speaker 1: Now, I'll tell you something that Paul, I come from
• 5:09
  Speaker 1: a big family. Now I'm not I'm not tapping into
• 5:11
  Speaker 1: your size now, six sisters, two brothers now, And I
• 5:14
  Speaker 1: always tell people that, you know, usually from an income standpoint,
• 5:18
  Speaker 1: a little bit up the food change mind. My parents
• 5:22
  Speaker 1: were my father was a truck driver. Mamble was stay
• 5:25
  Speaker 1: at home mom, and but it was it was something
• 5:28
  Speaker 1: about growing around a lot of kids that that that
• 5:31
  Speaker 1: creates a certain bond I had. Like I said, I
• 5:33
  Speaker 1: had six sisters and two brothers. What was the dynamics
• 5:36
  Speaker 1: of growing up in a family their size and what
• 5:38
  Speaker 1: did you line up in that number of fifteen kids
• 5:41
  Speaker 1: their Paul.
• 5:42
  Speaker 2: Yeah, I'm towards the end there.
• 5:45
  Speaker 1: So you had the better clothes.
• 5:46
  Speaker 2: You had the better clothes, well a little bit better.
• 5:50
  Speaker 2: That didn't hnd me down for quite a while, man.
• 5:53
  Speaker 2: And then it was only a few of us at home.
• 5:55
  Speaker 2: But no, it was a privilege to have. You know, really,
• 5:58
  Speaker 2: I consider like so many and dads growing up from
• 6:01
  Speaker 2: my older siblings who just really looked after me and
• 6:04
  Speaker 2: helped raise me and really poured into me at an
• 6:06
  Speaker 2: early age. But you're right, just that the community is
• 6:09
  Speaker 2: sticking together and helping each other be our best.
• 6:13
  Speaker 1: Uh.
• 6:13
  Speaker 2: But you know it was as you can imagine. We
• 6:16
  Speaker 2: we had our fun. It was very competitive as well,
• 6:18
  Speaker 2: whether it's for classroom and again that also propelled us
• 6:22
  Speaker 2: to be better as well, just pushing each other. Uh,
• 6:24
  Speaker 2: you know, it's fun. We still get together at large
• 6:27
  Speaker 2: holidays and scenes of that. It was just a fun
• 6:30
  Speaker 2: time to be together.
• 6:31
  Speaker 1: Put the where you all your family is a family reunion,
• 6:33
  Speaker 1: you know. You you know, you have to gather rowed
• 6:35
  Speaker 1: by a lot of people, A lot of people just
• 6:37
  Speaker 1: show up with your family, show up.
• 6:39
  Speaker 2: You know what I'm saying, Paul, No, that's what I
• 6:41
  Speaker 2: tell people usually is a family reunion fourth of July.
• 6:44
  Speaker 2: Once you and all the in laws and nieces and
• 6:46
  Speaker 2: nephews to get to a large number of pretty fast,
• 6:49
  Speaker 2: well let me.
• 6:49
  Speaker 1: Let let's talk about you know before, like I said
• 6:51
  Speaker 1: talking to Paul, you know, uh, you know, financial decision
• 6:55
  Speaker 1: maker for a lot of great brands at PMC. I
• 6:57
  Speaker 1: said them earlier, but I still they're still worth mentioning
• 7:00
  Speaker 1: brands like Rolling Stone, Billboard, Variety, The Hollywood Reporter, Vibe,
• 7:06
  Speaker 1: rob Report, Sheet Media, Dick Clark Productions, illuminate Sportic and
• 7:11
  Speaker 1: south By Southwest, which is incredibly That's where I met
• 7:16
  Speaker 1: you at Tell everybody about what exactly is south By Southwest, Paul.
• 7:21
  Speaker 2: You know, south By Southwest is probably one of the
• 7:24
  Speaker 2: largest events in the world where you bring technology, music, film,
• 7:28
  Speaker 2: and education and culture in a lot of ways together,
• 7:31
  Speaker 2: where you have a diverse people and diverse thought and
• 7:35
  Speaker 2: just people with different experiences come together and you have
• 7:38
  Speaker 2: this unexpected discovery that happened though it started off thirty
• 7:41
  Speaker 2: five years ago where when people would leave Austin, Texas,
• 7:45
  Speaker 2: you know, the college town University of Texas, and all
• 7:48
  Speaker 2: the bars would be empty, and so they started bringing
• 7:50
  Speaker 2: in music bands just to entertain people and fill up
• 7:54
  Speaker 2: the community that was empty at the time. And then
• 7:56
  Speaker 2: that started morphing into bringing in no film and that
• 8:00
  Speaker 2: started the film Festival, and then we started bringing in
• 8:03
  Speaker 2: more and more speakers to really help in education and
• 8:06
  Speaker 2: other side where there's technology. You know, some of the
• 8:09
  Speaker 2: biggest technology firms that are out there, they were kind
• 8:12
  Speaker 2: of had that founding and start there. So it has
• 8:15
  Speaker 2: really grown organically as the Austin community has grown. And
• 8:19
  Speaker 2: that's the place where now we go and over you know,
• 8:22
  Speaker 2: hundreds of thousands of people are interacting there with all
• 8:25
  Speaker 2: the events with you know, eleven days of music, uh,
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  Speaker 2: thousands of bands, film festivals and world premieres that are
• 8:32
  Speaker 2: happening there. And again still some of the greatest political
• 8:35
  Speaker 2: uh speakers and leaders of our time will come there
• 8:38
  Speaker 2: and grace the stage.
• 8:40
  Speaker 1: Yeah, it's an amazing event, ladies and gentlemen. Uh. You know,
• 8:44
  Speaker 1: it's interesting when Paul describes it because it's it doesn't
• 8:47
  Speaker 1: sound no, he's a good story telling bum Me tell
• 8:49
  Speaker 1: you'll something huge he put toward huge. Tis. In fact,
• 8:53
  Speaker 1: seven a Smith broadcast his show their Live and it
• 8:57
  Speaker 1: was part of the Softwest by Softwest event as well.
• 9:00
  Speaker 1: As other premier movies. You know, you've heard a lot
• 9:03
  Speaker 1: of great events Sundance. It's kind of like a combination
• 9:07
  Speaker 1: of a Sundance film festival, a comic con, and then
• 9:12
  Speaker 1: you have the Then you're in the heart of the Austin,
• 9:15
  Speaker 1: Texas with the capital of the state of Texas. You
• 9:18
  Speaker 1: have of mega sized, massive University of Texas footprint right there,
• 9:24
  Speaker 1: so it's just a collective. Then it just has great food.
• 9:26
  Speaker 1: It's a city field with great food, and you throw
• 9:29
  Speaker 1: all that combination and all that culture and you really, really, Paul,
• 9:33
  Speaker 1: have a true diverse environment, and I think that's what
• 9:36
  Speaker 1: makes it special.
• 9:37
  Speaker 2: Correct, No, absolutely, just bringing in that diversity of people
• 9:42
  Speaker 2: from industry and experiences where you never know who you're
• 9:44
  Speaker 2: going to bump into, whether it's the CEO of a
• 9:47
  Speaker 2: major studio or the CEO of a technology company and
• 9:51
  Speaker 2: someone who just starting up their own business and just
• 9:53
  Speaker 2: have these relationships they're able to form just from these
• 9:57
  Speaker 2: superndicinous interactions.
• 10:00
  Speaker 1: You know, as we talk about this similar backgrounds in
• 10:04
  Speaker 1: the sense that you know, I come from a community,
• 10:07
  Speaker 1: a large family African American, and then I went to
• 10:11
  Speaker 1: a predominantly white school and my school was University of Houston,
• 10:15
  Speaker 1: And I'm not saying it was a culture shock, but
• 10:17
  Speaker 1: I do know that my entire life up to that
• 10:20
  Speaker 1: point was basically black. My entire life, but I knew
• 10:25
  Speaker 1: that in order for me to succeed, I had to
• 10:28
  Speaker 1: have a good understanding of how the world worked and
• 10:32
  Speaker 1: how people communicated. Talk about your transition from your environment,
• 10:36
  Speaker 1: not saying that you came from an all black environment
• 10:38
  Speaker 1: like I did, but you did come from an environment
• 10:40
  Speaker 1: where your parents were successful, a large black family, but
• 10:44
  Speaker 1: also from a rural community to Notre Dame, which we
• 10:48
  Speaker 1: know is one of the elite universities in this country
• 10:52
  Speaker 1: Florid George pot Yeah.
• 10:54
  Speaker 2: I would say certainly a very rural American centric upbringing.
• 10:59
  Speaker 2: For the first aid eighteen years of my life. My
• 11:01
  Speaker 2: eyes were opened a little bit as I went to
• 11:03
  Speaker 2: the University of Notre Dame, which, as you can imagine,
• 11:05
  Speaker 2: a national campus people from all over the country. And
• 11:09
  Speaker 2: you're right, was a small a minority in this large
• 11:13
  Speaker 2: sea of majority, and it really helps you hone your
• 11:17
  Speaker 2: voice of who you are in that environment. But I
• 11:20
  Speaker 2: would say my largest learning is when I first left
• 11:22
  Speaker 2: the University of Notre Dame and started working with General Electric.
• 11:25
  Speaker 2: I went through about four years of training programs with
• 11:28
  Speaker 2: the General Electric Company and worked in five of the
• 11:31
  Speaker 2: seven continents around the world. So that experience where I
• 11:34
  Speaker 2: think I became a whole lot less American centric, really
• 11:39
  Speaker 2: got goose to the global perspective now as a black person,
• 11:44
  Speaker 2: not just a black American experience, which is so similar
• 11:47
  Speaker 2: to blacks and people of African descent all over the world.
• 11:52
  Speaker 2: And seeing that perspective, that's when it really began to
• 11:55
  Speaker 2: open up my eyes of just kind of the plight
• 11:57
  Speaker 2: of our community locally and globally and the power of
• 12:00
  Speaker 2: our community.
• 12:01
  Speaker 1: We'll be right back with more Money Making Conversation Master Class.
• 12:04
  Speaker 1: My guess, Paul Rainey, he's the executive vice president, not
• 12:08
  Speaker 1: gonna mess up his titles Executive vice President of Operation
• 12:11
  Speaker 1: and Finance for Penske Media Corporation. Be right back.
• 12:15
  Speaker 3: Please don't go anywhere. We'll be right back with more
• 12:18
  Speaker 3: Money Making Conversations Masterclass. Welcome back to the Money Making
• 12:29
  Speaker 3: Conversations Masterclass, hosted by Rashaan McDonald. Money Making Conversations Masterclass
• 12:34
  Speaker 3: continues online at Moneymakingconversations dot com and follow money Making
• 12:39
  Speaker 3: Conversations Masterclass on Facebook. Twitter and Instagram.
• 12:43
  Speaker 1: My guess is Paul Rainey. He is the executive vice
• 12:46
  Speaker 1: president of Operations and Finance for Penskey Media Corporation. Paul,
• 12:51
  Speaker 1: excuse me, Paul. When you talk about success, you talk
• 12:54
  Speaker 1: about the individual who's risen to the level of where
• 12:58
  Speaker 1: you at. You know, we came from humbles even though
• 13:00
  Speaker 1: your father was an entrepreneur, and fifteen siblings went to
• 13:06
  Speaker 1: from a rural community to a massive, popular university called
• 13:10
  Speaker 1: the University of not your dame there. And now you
• 13:15
  Speaker 1: talk about navigating in today's environment, that work balance, that
• 13:19
  Speaker 1: work life balance, because you have a lot of things
• 13:22
  Speaker 1: that you have to deal with and a lot of
• 13:23
  Speaker 1: brands that are like got the word A in the
• 13:26
  Speaker 1: let up in the plus next room A plus brands?
• 13:29
  Speaker 1: How do you handle that work life balance?
• 13:34
  Speaker 2: You know, for me is something that's always a challenge
• 13:37
  Speaker 2: to get the prioritization right. But you know I handled
• 13:40
  Speaker 2: me personally the same way. When people asking me for
• 13:42
  Speaker 2: professional advice, I tell them like, I won't give you
• 13:45
  Speaker 2: any professional advice until you tell me what your personal
• 13:48
  Speaker 2: goals are, because I can give you a professional advice
• 13:51
  Speaker 2: that will wreck your personal life and you might be
• 13:53
  Speaker 2: the CEO of a company. But you know your kids
• 13:56
  Speaker 2: don't like your spouse is going away. So I try
• 13:59
  Speaker 2: to live by the same model myself, just really keeping
• 14:02
  Speaker 2: at the forefront of my mind. What are my personal goals,
• 14:05
  Speaker 2: My relationship with my wife of twenty one years here
• 14:09
  Speaker 2: on Friday, you know, my relationship with my three teenage children,
• 14:13
  Speaker 2: and know in my family, my sending family that I
• 14:15
  Speaker 2: still want to have meaningful relationship with and friends. So
• 14:18
  Speaker 2: for me, it is sometimes we'll see imbalance when I'm
• 14:21
  Speaker 2: on the road for ten days or days at a time,
• 14:25
  Speaker 2: but it's something that I that I keep in mind.
• 14:28
  Speaker 2: You know, the prioritization of those relationships are the ones
• 14:32
  Speaker 2: that are most important to me, and I have to
• 14:34
  Speaker 2: make sure that I'm investing the time and energy in
• 14:37
  Speaker 2: those relationships if I want them to continue to thrive.
• 14:40
  Speaker 1: No, you said your kids with ten you can I
• 14:42
  Speaker 1: ask how old they are? You say that teens?
• 14:45
  Speaker 2: Uh yeah, seventeen, fifteen and twelve, almost thirteen or soon.
• 14:49
  Speaker 1: You know, we all know about internship, being able to
• 14:53
  Speaker 1: have a door open. That's how I got into a
• 14:55
  Speaker 1: lot of opportunities. Do you see do you are your
• 14:59
  Speaker 1: kids interesting in the area of success? That you are
• 15:02
  Speaker 1: achieving because you've got so many options here. You know,
• 15:05
  Speaker 1: popular magazines, you have production companies, you know, you have
• 15:09
  Speaker 1: live live event and activations. There's so many options. Have
• 15:13
  Speaker 1: you kids even do they have a clear understanding what
• 15:15
  Speaker 1: their father is doing to consider their available options that
• 15:19
  Speaker 1: you can probably you know, get you know, guide them
• 15:22
  Speaker 1: into possible career opportunities.
• 15:25
  Speaker 2: You know, no, absolutely, I exposed them to some of
• 15:28
  Speaker 2: the events. I will take my kids with you on
• 15:30
  Speaker 2: their tent and they kind of give them a sense
• 15:32
  Speaker 2: of what I do at my job and what my
• 15:34
  Speaker 2: brand do the brands do. But also I feel a
• 15:38
  Speaker 2: service and advisor and a consultant and on whether it's
• 15:40
  Speaker 2: on board of directors or things of that nature of companies,
• 15:43
  Speaker 2: and I share and even helping my own son who
• 15:47
  Speaker 2: is starting his own entrepreneurial endeavors and encouraging that and
• 15:51
  Speaker 2: giving him an investment in a company that he wants
• 15:54
  Speaker 2: to do. Maybe it starts off small, but even when
• 15:56
  Speaker 2: I do that, I say, hey, listen, you can get
• 15:59
  Speaker 2: these fine answers in several different ways. You know, this
• 16:02
  Speaker 2: is how much you can do if you went and
• 16:04
  Speaker 2: bought it from a credit card. This is how much
• 16:06
  Speaker 2: you do it if you went and bought it from
• 16:07
  Speaker 2: a bank, you know, if you get it for me,
• 16:09
  Speaker 2: that's called venture capital. I am investing in you in
• 16:13
  Speaker 2: that rate is typically going to be this much of
• 16:15
  Speaker 2: a return. And so now I might believe in you
• 16:18
  Speaker 2: more than a credit card company or a bank. But
• 16:21
  Speaker 2: start to sow those seeds of how business works, how
• 16:24
  Speaker 2: the world works, so when they see it later in life,
• 16:27
  Speaker 2: it's not foreign to them and they know how to
• 16:29
  Speaker 2: navigate those risk and opportunities.
• 16:32
  Speaker 1: Wow, you do you smile when you're talking to it, because,
• 16:35
  Speaker 1: like you said, my daughter, when she talks to me
• 16:38
  Speaker 1: about business or talks about career, I always lighten up
• 16:41
  Speaker 1: a little bit. What are your thoughts when your kids
• 16:43
  Speaker 1: come to you and you realize that you know, your
• 16:46
  Speaker 1: father laid the season to you because you were He
• 16:49
  Speaker 1: was an entrepreneur, so you saw it. You saw what
• 16:52
  Speaker 1: hard work can do. You saw how a black man,
• 16:56
  Speaker 1: despite the odds, despite people telling them what they can't do,
• 16:59
  Speaker 1: what can be achieved because you're doing it right now,
• 17:02
  Speaker 1: you're doing incredible things. And their dad is their dad?
• 17:06
  Speaker 1: Talk to us about that?
• 17:08
  Speaker 2: Yeah, you know, I want to instill in them that
• 17:10
  Speaker 2: you know that everybody is an independent you know, contractor
• 17:14
  Speaker 2: if you will. It's I view myself like and you
• 17:16
  Speaker 2: have to be entrepreneur. Whether you're working at a company
• 17:19
  Speaker 2: forty hours a week, what are the other things that
• 17:21
  Speaker 2: you're doing so that you're not putting all your eggs
• 17:23
  Speaker 2: in one basket with that company. And we all have
• 17:26
  Speaker 2: this creative innovation inside of us. So you know, as
• 17:30
  Speaker 2: a father, I want to continue to instill in them
• 17:33
  Speaker 2: the gifts and my kids have very different gifts, So
• 17:36
  Speaker 2: me looking into their life and encouraging the ways that
• 17:39
  Speaker 2: they are, the strengths that they do have, and where
• 17:41
  Speaker 2: they have more creativity in one era of another, so
• 17:44
  Speaker 2: that they don't lose sight of that, because the world
• 17:47
  Speaker 2: has a way of trying to take you down conson
• 17:49
  Speaker 2: and you have to believe in yourself and so I
• 17:51
  Speaker 2: want them to be able to identify those strengths and
• 17:54
  Speaker 2: lean into those strengths and always have different things that
• 17:58
  Speaker 2: they know they can go do regardless of what a
• 18:01
  Speaker 2: company or a studio or a label comes back and
• 18:04
  Speaker 2: tells them. They can have their own and a drive
• 18:07
  Speaker 2: to go and achieve the goals that they want to have.
• 18:09
  Speaker 2: So that is very important to do that as a
• 18:11
  Speaker 2: parent as well, and to be that mentor.
• 18:14
  Speaker 1: I'm telling you that that's incredible. I get that my daughter,
• 18:17
  Speaker 1: she works for my wife and our company, and I
• 18:20
  Speaker 1: convinced her to come work for us, and she tells
• 18:24
  Speaker 1: me every day this is the greatest move that she's
• 18:26
  Speaker 1: done in her young life with to come under and
• 18:28
  Speaker 1: be mentored by me. And that's interesting because that's what
• 18:32
  Speaker 1: I've been doing all my life, is mentoring. I want
• 18:35
  Speaker 1: to use the word stranger of the people that didn't
• 18:36
  Speaker 1: know and by giving them advice and by this is
• 18:40
  Speaker 1: a show about mentorship. And when I when I crack
• 18:42
  Speaker 1: the mic every Tuesday, every time I podcast adds, anytime
• 18:46
  Speaker 1: my voice is heard on an HBCU campus, hopefully I'm
• 18:49
  Speaker 1: providing mentorship. But here's the thing you hear a lot, Paul,
• 18:53
  Speaker 1: the word passion. People always talk about passion. Follow your passion,
• 18:57
  Speaker 1: how to can one pursue passion? And I'm sure what
• 18:59
  Speaker 1: you doing is pursuing your passion and pay bills.
• 19:03
  Speaker 2: Yeah, you know you have to balance it out because
• 19:07
  Speaker 2: you do have to pay the bills now, but also
• 19:12
  Speaker 2: thinking about ways that you can lean in the things
• 19:14
  Speaker 2: that you're creatively good at and how you can. That's
• 19:17
  Speaker 2: usually what you're gonna love to do, and you're gonna
• 19:19
  Speaker 2: work harder at those things. And the things that I
• 19:22
  Speaker 2: like to tell people early in your career, try to
• 19:25
  Speaker 2: expose yourself to many different things. You'll see things that
• 19:27
  Speaker 2: you like, and you see things that you don't like,
• 19:30
  Speaker 2: but you also may find an avenue the things that
• 19:33
  Speaker 2: you're passionate about that can connect in the job market
• 19:37
  Speaker 2: in a way that you weren't even aware of, but
• 19:39
  Speaker 2: just because you have that exposure to that experience early
• 19:42
  Speaker 2: on in your career. But it is one where you
• 19:44
  Speaker 2: have to really balance that and it takes a long time.
• 19:48
  Speaker 2: You have to continue to invest in yourself and those
• 19:51
  Speaker 2: pass that you have, because you know, if you don't
• 19:55
  Speaker 2: take control of your own career, no one will care
• 19:57
  Speaker 2: about your career more than you, and so you have
• 20:01
  Speaker 2: to be in the driver's seat of that. And that
• 20:03
  Speaker 2: includes all of the different various passions that you have
• 20:05
  Speaker 2: about how you want to achieve that as well. But
• 20:08
  Speaker 2: I do think it's just be patient with yourself, give
• 20:10
  Speaker 2: yourself time, make those small investments over time so you
• 20:14
  Speaker 2: can continue to build up the momentum and then you'll
• 20:17
  Speaker 2: be surprised when you look down the road with that
• 20:20
  Speaker 2: intentionality of how your passions begin to align with what
• 20:24
  Speaker 2: you're doing in your everyday job as well.
• 20:26
  Speaker 1: I'm gonna tell y'all something. You've heard the word the man.
• 20:29
  Speaker 1: You know, you say he is the man, she is
• 20:32
  Speaker 1: the one. You know, I am talking to the man.
• 20:36
  Speaker 1: You can actually give the man title to Paul Rady
• 20:38
  Speaker 1: when you're saying he overseeing brands, operations and finances for
• 20:45
  Speaker 1: Rolling Stone, Billboard, Variety, The Hollywood Reporter, Five, Rob Report,
• 20:50
  Speaker 1: Sporty Code, Dick Clark Production, She Media, which is She?
• 20:55
  Speaker 1: And then the incredible multi day event south By Southwest.
• 21:00
  Speaker 1: As we close out this interview, Paul Wealth Building give
• 21:05
  Speaker 1: our audience some advice on generating keys and keys to
• 21:09
  Speaker 1: investing not only in yourself but also hopefully in some
• 21:12
  Speaker 1: financial options. Not trying to tell them what stock to pick,
• 21:15
  Speaker 1: but that the terms of how one does it over
• 21:17
  Speaker 1: a long period of time.
• 21:20
  Speaker 2: Yeah, I think the point you said at the end
• 21:22
  Speaker 2: is most important over a long period of time, and
• 21:26
  Speaker 2: so it really starts off with that dynamic of budgeting
• 21:29
  Speaker 2: and just really having the self control to spend less
• 21:32
  Speaker 2: than you make and do that over a long period
• 21:34
  Speaker 2: of time and then you invest and you invest in
• 21:37
  Speaker 2: a diversity of things very early, and I would say
• 21:40
  Speaker 2: as you begin to build up those multiple revenue streams
• 21:44
  Speaker 2: of the call of people call it passive income. But
• 21:47
  Speaker 2: just think about those ways that again that you can
• 21:50
  Speaker 2: continue to lean into your passions, lean in the things
• 21:53
  Speaker 2: that your strengths that you have, so that maybe it
• 21:56
  Speaker 2: is you may own run on property, maybe it is
• 21:58
  Speaker 2: that you're investing in that get back divotings and things
• 22:01
  Speaker 2: of that nature, but you're allowing yourself on opportunity to
• 22:04
  Speaker 2: have multiple things that can provide income for you. You know,
• 22:09
  Speaker 2: a lot of people have a lot of work experience
• 22:11
  Speaker 2: and expertise and they undervalue it because they can be
• 22:14
  Speaker 2: doing advising services to other people that can come along
• 22:18
  Speaker 2: and help them along the way. And it always doesn't
• 22:20
  Speaker 2: have to be cash in return. Like I advise some
• 22:23
  Speaker 2: companies today and I'll say, hey, listen, give me a
• 22:27
  Speaker 2: stake in the company and I will help you grow
• 22:29
  Speaker 2: your company a longer time. But when you do that
• 22:33
  Speaker 2: small stole in those seats earlier on, you know the
• 22:36
  Speaker 2: payback will be greater because you let them grow in.
• 22:39
  Speaker 2: As that company grows, you look up and now you
• 22:41
  Speaker 2: own equity in an entity. And so those are the
• 22:45
  Speaker 2: things that I would say is number one. You know
• 22:48
  Speaker 2: that however you want to budget, but just spend less
• 22:51
  Speaker 2: than you make. That's how you create wealth over time,
• 22:54
  Speaker 2: investing over a long period of time. It doesn't happen overnight,
• 22:58
  Speaker 2: and just making sure you have a diverse to the
• 23:00
  Speaker 2: things that you're working with and you'll be surprised at
• 23:03
  Speaker 2: how that momentum and the compound and interest in returns
• 23:06
  Speaker 2: will grow over time.
• 23:07
  Speaker 1: My man, Paul Rainey brother, I know you're busy, and
• 23:13
  Speaker 1: in fact, you took time to talk to my audience
• 23:15
  Speaker 1: Money Making Conservations master Class. That's my show, the show
• 23:18
  Speaker 1: I mentor people who call in, people who stop me
• 23:21
  Speaker 1: and say thank you, I say thank you, thank you
• 23:24
  Speaker 1: for taking time to come on my show and give
• 23:26
  Speaker 1: worldly advice, international advice, advice that as an African American man,
• 23:31
  Speaker 1: you out there making a difference and raising a family
• 23:33
  Speaker 1: where you're mentoring kids to make a difference in our future.
• 23:36
  Speaker 1: Thank you for coming on Money Making Conversation Masterclass. Paul.
• 23:39
  Speaker 2: Now, thank you so much for the opportunity