Latest / The Steve Harvey Morning Show / Rushion gives tips on How to be a successful business owner
Transcript
- 0:05Speaker 1: Welcome to money Making Conversations.
- 0:06Speaker 2: It's to show that she is the secrets of success
- 0:08Speaker 2: experience firsthand by marketing and Brandon expert Rashan McDonald. I
- 0:12Speaker 2: will know he's giving me advice on many occasions. And
- 0:14Speaker 2: in case you didn't notice, I'm not broke. You know
- 0:17Speaker 2: he'll be interviewing celebrity CEOs, entrepreneurs and industry.
- 0:20Speaker 1: Decision make because it's what he likes to do. It's
- 0:23Speaker 1: what he likes to share.
- 0:24Speaker 2: Now it's time to hear from my man, Rashan McDonald
- 0:27Speaker 2: money making Conversations.
- 0:29Speaker 3: Here we go.
- 0:30Speaker 1: I am going to be talking about how to be
- 0:33Speaker 1: a successful business owner. Well, guess what I have failed?
- 0:39Speaker 1: I have done so many mistakes and I'm gonna share
- 0:41Speaker 1: some of those mistakes. Let's get started here. I'm gonna
- 0:44Speaker 1: ask some questions about it.
- 0:46Speaker 4: This.
- 0:46Speaker 1: Has anybody ever thought about you can raise your hand,
- 0:49Speaker 1: You can raise your hand, and your car driving you
- 0:51Speaker 1: just raise your eyebrow. Thought about starting a business? Why
- 0:54Speaker 1: didn't you do it? Have you ever thought about hiring
- 0:57Speaker 1: people for your business? Hired the wrong people? Have you
- 1:01Speaker 1: ever thought about hiring relatives and guess what you hired
- 1:04Speaker 1: those relatives? Have you ever hired people that you were
- 1:09Speaker 1: getting a good deal on them. Oh they got Oh
- 1:13Speaker 1: they cheap. Oh that slary fits right into my budget.
- 1:17Speaker 1: But they don't have the experience. Am I am I?
- 1:20Speaker 1: Am I tapping into the right lanes with some of
- 1:22Speaker 1: y'all out there. Or how about starting your business and
- 1:25Speaker 1: you don't even have a budget. It's just a good idea?
- 1:31Speaker 1: Am I tapping into anybody out there? Yet? Okay? How
- 1:35Speaker 1: about this? How about this? You start a business with
- 1:38Speaker 1: somebody you don't know? How about that? How about how
- 1:43Speaker 1: about this? You start a business? You know, I'm from Texas.
- 1:47Speaker 1: So they say you can start a business with a handshake,
- 1:49Speaker 1: that's what will be contractual. I've done that before. Yeah,
- 1:53Speaker 1: you don't make it. How to be a successful business owner?
- 1:58Speaker 1: That's a that's a bold statement to for me to
- 2:00Speaker 1: say marketing and branding. Have a company called thirty and
- 2:03Speaker 1: fifteen Media, Inc. Based in Atlanta, Georgia. I started it
- 2:08Speaker 1: as an idea and I just started hiring people. Were
- 2:12Speaker 1: they the best qualified people?
- 2:15Speaker 5: No?
- 2:16Speaker 1: In hindsight, no, But I knew them. I knew them,
- 2:20Speaker 1: they knew me. We had long term relationships. They could
- 2:24Speaker 1: do certain things, and I hired them. That's the number
- 2:30Speaker 1: one problem with most people who fail in this business
- 2:34Speaker 1: is they hire people just because they're close to them.
- 2:37Speaker 1: They hire people because they make them feel comfortable to
- 2:42Speaker 1: hire people because they're just right there and they're available
- 2:46Speaker 1: to be hired. That's the number one mistake and the
- 2:52Speaker 1: number two mistake. Do you have time for your business? Wow?
- 2:59Speaker 1: You know I always tell people this, I get up
- 3:02Speaker 1: at four thirty money to do fraud. That's one time
- 3:05Speaker 1: four thirty am I get up and people always going
- 3:07Speaker 1: whoohoo four thirty when you're doing it front thirty. I
- 3:12Speaker 1: was fortunate to give a speech uh I was at
- 3:16Speaker 1: It was an area in Atlanta called Thoronias, right outside
- 3:20Speaker 1: of Atlanta Georgia Chamber of Commerce, and I was speaking
- 3:23Speaker 1: to him. That's one of the reasons they brought me over.
- 3:25Speaker 1: It was to speak about how to be a successful
- 3:28Speaker 1: business owner. And when you're speaking to tp people about
- 3:31Speaker 1: being a successful business owner, one thing you have to
- 3:34Speaker 1: admit that is that you made mistakes. I opened a
- 3:39Speaker 1: comedy club in Houston, Texas called Hip Hop Comedy Style.
- 3:44Speaker 1: I got in business with a person I didn't even know. Well,
- 3:49Speaker 1: guess what, he was a stand up comic too, So
- 3:54Speaker 1: he liked telling jokes. I liked telling jokes. Yeah, I
- 3:57Speaker 1: guess he make a good business part. So that's how
- 4:00Speaker 1: we got in. That's like you. That's like you like
- 4:02Speaker 1: to eat chicken, and you know somebody who makes good chickens,
- 4:05Speaker 1: So y'all just gonna go into chicken business.
- 4:07Speaker 3: Same same thing, same thing.
- 4:10Speaker 1: I didn't know his likes, his dislikes. I didn't know
- 4:13Speaker 1: his work happens. I didn't know if he like getting
- 4:16Speaker 1: up early but he like staying late. Didn't even have
- 4:19Speaker 1: an idea of how to run a business. That's how
- 4:22Speaker 1: I got in business. But the other side of that
- 4:24Speaker 1: is that it became a very popular comedy club. Lines
- 4:31Speaker 1: out the door. I just to do a show on Thursday.
- 4:34Speaker 1: Tickets are gonna sell on Monday. They were sold out
- 4:37Speaker 1: in the hour. That's how popular was the room. Seats
- 4:39Speaker 1: like three hundred and fifty people, a line out the
- 4:42Speaker 1: door on Thursday show showtime. I hit stage at eight
- 4:45Speaker 1: nine o'clock. People wouldn't go in the room until it
- 4:48Speaker 1: was nine. Eight thirty was an empty room. They didn't
- 4:50Speaker 1: want to see the other comics. I walk in nine
- 4:52Speaker 1: o'clock room packed eight thirty to eight fifty five, room
- 4:56Speaker 1: was empty, nine o'clock packed. We were making money. But
- 5:02Speaker 1: guess what happens when you start making money? I forgot
- 5:06Speaker 1: You pay taxes. You pay taxes on tickets, you pay
- 5:12Speaker 1: taxies on liquor, so those little things. So all that
- 5:16Speaker 1: money that you're making, somebody else want a piece of it.
- 5:20Speaker 1: So you can't look at ten dollars as a real
- 5:22Speaker 1: ten dollars. But because I didn't have a budget, because
- 5:28Speaker 1: I didn't take time to understand how to run a business,
- 5:32Speaker 1: I was just doing all the wrong things. So I'm
- 5:37Speaker 1: sure a lot of you guys out there, ladies, I think,
- 5:39Speaker 1: because women are the fastest growing entrepreneurial part in this company,
- 5:44Speaker 1: especially black women, y'all just running things now in a
- 5:49Speaker 1: good way, opening up business. I'm sure you opening up
- 5:52Speaker 1: business a lot more than me, better than me. So
- 5:57Speaker 1: I was making money but couldn't understand how selling out.
- 6:03Speaker 1: But I can't pay myself, so I was just working
- 6:08Speaker 1: for free because I didn't have Because you what you
- 6:11Speaker 1: can't do, I'm tell you something about this. The biggest
- 6:14Speaker 1: mistake in a business. You can't open a business and
- 6:18Speaker 1: then try to sell the budget, because now you're playing
- 6:23Speaker 1: catch up because you can't justify because you didn't have
- 6:27Speaker 1: a budget at the beginning. You'll know why you have
- 6:29Speaker 1: all these people hanging around you getting checks for you
- 6:32Speaker 1: or wanting to get checked for you. Then you understand
- 6:35Speaker 1: why you fail. So when you're making money as a
- 6:38Speaker 1: business owner, you can't be successful because of the reason
- 6:41Speaker 1: that you try to be successful because you never had
- 6:44Speaker 1: a plan. That's the numb more reason we fail. And
- 6:47Speaker 1: the other number one reason we fail is do you
- 6:49Speaker 1: have time for your business. I can't tell you how
- 6:52Speaker 1: many people get mad because the store. After a while,
- 6:56Speaker 1: they open their business. It opens a tent, but they're
- 6:59Speaker 1: getting there at the same time the customer should get there.
- 7:04Speaker 1: They getting mad because the customers got their own time,
- 7:06Speaker 1: not knowing they got a restaurant here, They got to
- 7:09Speaker 1: pre set up everything the customers. YEA ever been in
- 7:12Speaker 1: a restaurant. You've been in a restaurants where oh, we
- 7:14Speaker 1: don't have that on the menu today.
- 7:15Speaker 3: Doesn't that make you mad?
- 7:18Speaker 1: Oh we ran out? How are you gonna run out
- 7:21Speaker 1: of something that's on your menu? Didn you plan to
- 7:26Speaker 1: make this? Then you plan this, make this a part
- 7:28Speaker 1: of your regular I've been I've been in restaurants where
- 7:31Speaker 1: they have actually used a marker to strike through things
- 7:36Speaker 1: that they don't do their menu no more. Now I'm
- 7:38Speaker 1: supposed to come back for that. Here's a little note
- 7:42Speaker 1: now about business. It's called consistency. I always tell people
- 7:46Speaker 1: that little I'm just using Target as an example. If Target,
- 7:50Speaker 1: if you drove by Target at night and they sign
- 7:53Speaker 1: wasn't on, you think they'd be closed. So if like
- 7:57Speaker 1: on Monday, Tuesday, and Wednesday, Target sign is on, but Thursday,
- 8:01Speaker 1: Friday and Saturday was off, you think they'll be out
- 8:03Speaker 1: of business, or you stop trusting them so you won't
- 8:08Speaker 1: go there or put them on the list, and you
- 8:10Speaker 1: actually started spreading rumors, negative rumors about Target or business
- 8:15Speaker 1: like Target. And that's what happens if we're inconsistent. So
- 8:19Speaker 1: if you if you open the opening a business and
- 8:22Speaker 1: you're saying you doing things, you gotta be there to
- 8:25Speaker 1: do it, and everybody sees the profit line, you know,
- 8:28Speaker 1: they buy franchise. You know they want to our franchise
- 8:30Speaker 1: like Chick fil A or jagon Bars or McDonald's or
- 8:33Speaker 1: they heard or Bojangles. That's that's a real hot franchise
- 8:38Speaker 1: right now that people are buying it still requires work.
- 8:43Speaker 1: And so what these franchises try to do they try
- 8:46Speaker 1: to train you. So you're gonna pay a fee, but
- 8:49Speaker 1: they just don't let you just run out there. They're
- 8:52Speaker 1: gonna find out if you have time too to run
- 8:55Speaker 1: that franchise, because they're applying the same business principles that
- 8:59Speaker 1: I am doing in this conversation I'm having with you
- 9:02Speaker 1: right now, the conversation of being able to sit down
- 9:06Speaker 1: and apply to you a makeshift plan, a make sense
- 9:10Speaker 1: plan of how you can be successful. So when you
- 9:12Speaker 1: buy a franchise, what they do is they bring you in,
- 9:16Speaker 1: they sit you down, and they have you work with
- 9:18Speaker 1: somebody who has your best interests. Listen to me, now,
- 9:24Speaker 1: your best interest because what they don't want to do
- 9:26Speaker 1: is put a franchise out there and it clothes because
- 9:30Speaker 1: it makes them look bad. So now if you don't
- 9:32Speaker 1: have time, but you heard, did these franchises make a
- 9:35Speaker 1: lot of money? Then they gonna have a problem with you.
- 9:38Speaker 1: Then you're gonna get mad at them because they telling
- 9:40Speaker 1: you why you're not there to open up their business
- 9:43Speaker 1: on time. It guess what they gonna do after a while,
- 9:46Speaker 1: they'll come take their license. Then what you're trying to
- 9:51Speaker 1: do now, you're trying to suit. Now you huddle up
- 9:55Speaker 1: with your friends and family, all you in the corners,
- 9:57Speaker 1: just cussing and fussing like they've done you wrong. But
- 10:00Speaker 1: you're the one didn't live up to the standards. They have, copyright,
- 10:04Speaker 1: they have, they have. You just can't let anybody in
- 10:06Speaker 1: the kitchen. If you making donuts, you just can't let it.
- 10:10Speaker 1: You just can't shoot a video back there for TikTok
- 10:15Speaker 1: making donuts back there, making cakes back there.
- 10:17Speaker 3: You mad.
- 10:21Speaker 1: Because that's their recipes. Everybody can't see this because you.
- 10:24Speaker 3: Don't know the rules.
- 10:25Speaker 1: You want to try to make your own rules. That's
- 10:28Speaker 1: why you want to be successful. I'm gonna tell you
- 10:30Speaker 1: why I was not successful at my comedy club. Even
- 10:33Speaker 1: though lines out the door. You can look at up
- 10:37Speaker 1: Hip Hop Comedy Stop nineteen ninety two to nineteen ninety four, Houston,
- 10:40Speaker 1: Texas one of the most popular comedy clubs in the country.
- 10:44Speaker 1: Everybody came through the Joe tur Cedric did Detainer some more.
- 10:50Speaker 1: All the big stars came through there, Steve Harvey, everybody
- 10:55Speaker 1: came to that club, made no money, made no money,
- 11:06Speaker 1: broke even because I didn't have a budget because I
- 11:11Speaker 1: didn't know what I was doing. I was in business
- 11:13Speaker 1: with a person I didn't know, and he had a
- 11:17Speaker 1: full time job. So guess what he kept saying, Hey, man,
- 11:25Speaker 1: you got it, you got it, you got it. Well,
- 11:29Speaker 1: guess what I got tired of being the person who
- 11:31Speaker 1: got it. Didn't have family? WHOA When we come back,
- 11:39Speaker 1: we're gonna talk about hiring family. Who hire family? So
- 11:43Speaker 1: that's a big a mistake you can make hiring family now,
- 11:46Speaker 1: especially when the mama, when the mama told you to
- 11:49Speaker 1: hire him. This is Sean McDonald Marketing and Brandy expert
- 11:52Speaker 1: telling you how to be a successful business owner. We've
- 11:55Speaker 1: already covered have time for your business. Now we're gonna
- 12:00Speaker 1: do you how relatives because you loved them. We'll be
- 12:05Speaker 1: right back for boy money making conversation. Masks, clams, don't
- 12:07Speaker 1: go the where y'all. I just got started.
- 12:09Speaker 5: Who We'll be right back with more money making conversations
- 12:18Speaker 5: Masterclass with Rushawn McDonald. You are now tuned into the
- 12:24Speaker 5: money making Conversations.
- 12:25Speaker 6: Minute of Inspiration with Rashawn McDonald.
- 12:28Speaker 7: Hollywood super producer Will Packer has produced films that have
- 12:32Speaker 7: earned more than one billion dollars at the box Office.
- 12:34Speaker 7: Will Packer tells me why marketing his brand as a
- 12:37Speaker 7: producer wasn't normal in Hollywood.
- 12:39Speaker 8: Well, when I came in as a producer, I knew
- 12:42Speaker 8: how important it was to connect with an art. That
- 12:44Speaker 8: really started with my journey at FAM You because I
- 12:48Speaker 8: made my first film project, which was Chocolate City, while
- 12:51Speaker 8: I was still an undergraduate at Family, I was a junior.
- 12:55Speaker 8: We shot Chocolate City, this a little bitby movie, and
- 12:58Speaker 8: in order for that family to be success, so I
- 13:00Speaker 8: had to go out to my audience, my core audience,
- 13:03Speaker 8: and I realized I needed to go out and explain
- 13:06Speaker 8: to that audience why they should care about this family.
- 13:09Speaker 8: And that really started something that I still do to
- 13:12Speaker 8: this day, which is going out and trying to touch
- 13:14Speaker 8: people with every project that I have.
- 13:16Speaker 7: If you want to hear this full interview with Will Packer,
- 13:19Speaker 7: visit money Making Conversation dot com.
- 13:22Speaker 5: Now let's return to Money Making Conversations Masterclass with Rashaan McDonald.
- 13:27Speaker 1: Hi, this is Rashan McDonald. I'm telling everybody this is
- 13:30Speaker 1: my opinion. It's not the opinion the station you're listening to.
- 13:33Speaker 1: This Rushan McDonald just pouring his soul lout on this
- 13:36Speaker 1: show today a little bit. I'm gonna start doing this
- 13:38Speaker 1: more off. I like this. I know I'll have great guests,
- 13:41Speaker 1: but I think you guys need to hear. How did
- 13:43Speaker 1: I become the person I had? I became, I've become
- 13:46Speaker 1: and I will continue to become. How to be a
- 13:48Speaker 1: successful business owner? Business owner is the topic? Maris, How
- 13:52Speaker 1: you doing? My friend Morris is underline talk to me,
- 13:54Speaker 1: march Is Rushan mcgonn speaking. How you doing?
- 13:56Speaker 4: Hey, I'm doing well? How are you?
- 13:58Speaker 1: What you want to talk about? Marris?
- 14:00Speaker 4: Good? So I wanted to find out if you have
- 14:03Speaker 4: any recommended sources where we can learn how to properly
- 14:08Speaker 4: budget for a business. I know, of course you can
- 14:10Speaker 4: google and things like that, but are there any resources
- 14:13Speaker 4: that you specifically recommend to help us properly establish a
- 14:18Speaker 4: budget for our business?
- 14:19Speaker 1: Absolutely? Call it small business Administration. They're in every major city,
- 14:25Speaker 1: and please go to them. Because when I opened my
- 14:27Speaker 1: comedy club, I went there and when I went there,
- 14:31Speaker 1: and I'm just using a club for an example. If
- 14:34Speaker 1: they tell you, if you can tell them your club
- 14:36Speaker 1: is three thousand square feet, they'll tell you how many
- 14:38Speaker 1: table chairs you need. They'll tell you how many classes
- 14:40Speaker 1: you need. They'll tell you everything because they have books.
- 14:43Speaker 1: And then they have another part called Score. And Score
- 14:47Speaker 1: is made up of retired executives, people who are entrepreneurs,
- 14:51Speaker 1: people who have been in the business successful and they
- 14:53Speaker 1: can mentor you. They can mentor you so you can
- 14:56Speaker 1: ask these honest questions. It's called Score, and it's called
- 14:59Speaker 1: small Busines this administration. And believe me, I tell people
- 15:02Speaker 1: about this all the time. Do not step out there
- 15:05Speaker 1: dreaming without a plan, because if you dream without the plant,
- 15:08Speaker 1: it's gonna come and slap you in the face and
- 15:09Speaker 1: wake you up and it will be a nightmare when
- 15:11Speaker 1: you wake up. I walk up into a nightmare. I
- 15:14Speaker 1: kid you not, Morris. I was making money and I
- 15:17Speaker 1: never saw none of it because I didn't have a budget.
- 15:20Speaker 1: I didn't understand who I was in business with. And
- 15:23Speaker 1: guess what. In the end, I hired my relative and
- 15:25Speaker 1: guess what, they had full time job, so they will
- 15:28Speaker 1: not commit it to my dream because they had to
- 15:31Speaker 1: get back to work the next day. So Small Business
- 15:37Speaker 1: Administration SBA, and it's called Score, Like you score a
- 15:40Speaker 1: touchdown those two organizations. You can get it through Small
- 15:44Speaker 1: Businessmen SBA right here in Georgia. Is also in Texas.
- 15:47Speaker 1: It's also in New York. It's also any major state,
- 15:49Speaker 1: any major city has it. I would advise you to
- 15:52Speaker 1: call them and guess what. It's free.
- 15:55Speaker 4: Oh excellent, that's even better.
- 15:57Speaker 1: Well, good luck, my friend. Thank you for calling them
- 15:59Speaker 1: money make comings in hope you got something out of
- 16:01Speaker 1: the call. Thank you, my friend, Angela. How you doing,
- 16:06Speaker 1: I'm good?
- 16:07Speaker 6: Thanks taking my call.
- 16:09Speaker 1: What question can I answer for you, Angela?
- 16:12Speaker 6: I would love I appreciate you sharing your your failures
- 16:16Speaker 6: because I think that help sets the stage for me
- 16:20Speaker 6: going into acquiring a business. So yeah, please just continue
- 16:24Speaker 6: to share some of the lessons.
- 16:25Speaker 4: Learned because I'm learning a lot. Don't hire your family.
- 16:29Speaker 6: Plan your work and work well, I tell.
- 16:31Speaker 1: You them them. It's higher I hire your family, though,
- 16:35Speaker 1: because I don't want to get all family members of
- 16:37Speaker 1: bad reputation. Now, do not hire your families. If your
- 16:40Speaker 1: mama told you to.
- 16:41Speaker 4: Hire okay, okay.
- 16:45Speaker 1: Don't hire them that way. Don't hire your family out
- 16:47Speaker 1: of love. Okay, those two things. Now, if your families qualified,
- 16:53Speaker 1: they've done the work, they will put in the work
- 16:55Speaker 1: they're hired, you treat them like here's the thing I
- 16:58Speaker 1: would tell people. You know, if you hire a family member,
- 17:02Speaker 1: they should have the same qualifications and put out the
- 17:04Speaker 1: same effort of somebody you would not know that you
- 17:07Speaker 1: wanted to hire for that same position. But if you're
- 17:09Speaker 1: bringing them in and you loan the qualifications, you will
- 17:13Speaker 1: lawn the work ethic. You will lower the responsibility for
- 17:16Speaker 1: that same job. So now you've lowered the standard for
- 17:19Speaker 1: that job three times. So why do you expect that
- 17:24Speaker 1: person to be effective when you need to work forty
- 17:26Speaker 1: hours a week. He's it, I'm gonna roll here. I
- 17:29Speaker 1: gotta tell you something else. If you hire somebody, then
- 17:35Speaker 1: they start changing the rules on how they work.
- 17:39Speaker 3: You know what I'm saying.
- 17:40Speaker 1: You see, I'm very clear and when I hire people,
- 17:43Speaker 1: and you should be very clear because you send a
- 17:46Speaker 1: letter to them outlining the job description, you both agree
- 17:52Speaker 1: on the salary. After a couple of weeks, they started
- 17:57Speaker 1: they start coming in and making an excuse you like, well,
- 18:00Speaker 1: you know, I got to pick up the kids. Okay,
- 18:03Speaker 1: you tell me about that when.
- 18:04Speaker 6: I hide you, Okay.
- 18:07Speaker 1: You tell me about that. Or I gotta leave work
- 18:09Speaker 1: early because of traffic. Who you tell me about that?
- 18:14Speaker 1: When I hired you? Though? So see what happens is
- 18:17Speaker 1: you have to be able to see a certain question
- 18:19Speaker 1: you can't ask when you hire people. But if somebody
- 18:23Speaker 1: ubers to the interview, I wouldn't hire m h Okay, you.
- 18:30Speaker 6: Lay the foundation straight from the beginning.
- 18:34Speaker 1: But of course you know there's certain questions you cannot
- 18:36Speaker 1: ask when you ask, but you have to have common
- 18:39Speaker 1: sense and whole approach. If you should ask somebody where
- 18:42Speaker 1: they live. You know, my my company up in Alpharetta.
- 18:49Speaker 1: Now anybody down there by the airport, I have to
- 18:53Speaker 1: question whether or not they can come to my job
- 18:55Speaker 1: on a regular basis. I just have to question that
- 18:58Speaker 1: because I know there's heavy traffic and morning and an
- 19:00Speaker 1: afternoon and my jobs eight to five. So I don't
- 19:03Speaker 1: care how much they say they want the job. I
- 19:07Speaker 1: have to do common sense realize I may be compromising
- 19:11Speaker 1: my business because guess what happens. They're gonna come in
- 19:14Speaker 1: and start changing the rules with traffic, family issues, you know,
- 19:20Speaker 1: and then then they're gonna say something to you. They're
- 19:22Speaker 1: really gonna make you mad. You know, your job kind
- 19:25Speaker 1: of far, but.
- 19:31Speaker 4: You know all that.
- 19:32Speaker 1: But you knew all that when you hire that person,
- 19:35Speaker 1: because guess what they told you where they lived, but
- 19:38Speaker 1: you're ignored it. So Angela, thank you for calling. These
- 19:43Speaker 1: are some of the little things. And I'm not finished,
- 19:45Speaker 1: So keep your keep your radio on because I got
- 19:47Speaker 1: more to talk about. Keep your podcast with all that.
- 19:50Speaker 4: Guess I will.
- 19:52Speaker 1: Now here's the problem that a lot of people have
- 19:55Speaker 1: when they open the business. This I'm talking the business
- 19:57Speaker 1: owner's talking the entrepreneurs. Listen to me. Parking. I don't
- 20:05Speaker 1: know why people think they can just open up, open
- 20:07Speaker 1: up a business and not worry about parking. I had
- 20:13Speaker 1: a comedy club, y'all. See I see that comedy club
- 20:16Speaker 1: taught me a lot, y'all. I had no parking. All
- 20:22Speaker 1: my parking was on the streets. Out there on the streets,
- 20:26Speaker 1: three hundred people cars parked out down the street, up
- 20:28Speaker 1: and down the streets all up. Boy, I was popular, though,
- 20:32Speaker 1: But guess what happens when you just parking any kind
- 20:36Speaker 1: of wall, any kind of way, any kind of place.
- 20:40Speaker 1: Bad things start happening. Bad people start showing up, start
- 20:46Speaker 1: busting in car windows, So people would leave my comedy shows,
- 20:51Speaker 1: come back in over sewn my car being broken into
- 21:00Speaker 1: so what So then my insurance got to cover that,
- 21:05Speaker 1: So suddenly my insurance starts going up because I got
- 21:11Speaker 1: a business. Beautiful building, fantastic no parking though, But I
- 21:16Speaker 1: ignored the no parking issue because guess what, I fell
- 21:20Speaker 1: in love with the building. So I had to hire
- 21:24Speaker 1: people to walk up and down the streets to stop
- 21:31Speaker 1: people from busting into cars. Now you see why I
- 21:35Speaker 1: wasn't making no money when you make all these ignorant decisions,
- 21:40Speaker 1: no budget in business. Somebody didn't know by the leasing
- 21:46Speaker 1: the building for two years with no parking ru I'm
- 21:55Speaker 1: gonna close this out about this person you should never
- 21:59Speaker 1: ever hire. Do not hire inexperience employees because they are cheaper.
- 22:09Speaker 1: I'm just let that soak in a minute. Do not
- 22:13Speaker 1: hire inexperience employees because they are cheaper. One they have
- 22:21Speaker 1: no leadership abilities. Two they need constant supervision. Three they
- 22:30Speaker 1: do not understand the position and the company and will
- 22:35Speaker 1: not help you win. W I in capital letters long term.
- 22:43Speaker 1: And I'm gonna put a little quote around here. I
- 22:46Speaker 1: said something by relatives. Do not hire friends. I've done that.
- 22:57Speaker 1: It has burnt me. When it came time to make
- 23:01Speaker 1: a decision, they reminded me that I did them wrong.
- 23:07Speaker 1: They reminded me that they were the victim. They reminded
- 23:13Speaker 1: me that I didn't know what I was doing, and
- 23:16Speaker 1: you exactly right because I was running a business based
- 23:21Speaker 1: on friendship, no budget, family and a partner I didn't know.
- 23:31Speaker 1: You cannot win like that, Ladies and gentlemen, as you
- 23:34Speaker 1: listen to me talk about marketing and branding and how
- 23:37Speaker 1: to be a successful business owner. The bottom line, it's
- 23:41Speaker 1: on you look in the mirror and make a decision
- 23:43Speaker 1: that benefits you, your family and your future. This is
- 23:48Speaker 1: another episode of Money Making Conversation Masterclass. I want to
- 23:51Speaker 1: thank always, thank y'all every week for listening, and I
- 23:55Speaker 1: just want to share this moments with you today. I'm
- 23:56Speaker 1: gonna do this once a month, share some of my
- 23:59Speaker 1: personal story, my personal background as to why I can
- 24:02Speaker 1: talk like this because I've made mistakes and you've heard
- 24:06Speaker 1: the people who called in. I answered that question because
- 24:09Speaker 1: I know where to go now and I will be
- 24:11Speaker 1: able to help you as long as you listen to
- 24:13Speaker 1: me every time I open my mouth and bring your
- 24:15Speaker 1: guests on this show because it's for your personal benefit
- 24:18Speaker 1: and it's free. I'm Rashan McDonald.
- 24:20Speaker 3: We talked to him.
- 24:34Speaker 5: Thank you for joining us for this edition of Money
- 24:36Speaker 5: Making Conversations Masterclass Money Making Conversations Masterclass with through Sean
- 24:42Speaker 5: McDonald is produced by thirty eight to fifteen Media Inc.
- 24:45Speaker 5: More information about thirty eight to fifteen Media Inc. Is
- 24:48Speaker 5: available at thirty eight to fifteen media dot com. And
- 24:52Speaker 5: always remember to lead with your gifts