Latest / The Steve Harvey Morning Show / Richelieu Dennis Full Interview

Transcript

Richelieu Dennis Full Interview · The Steve Harvey Morning Show

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  Speaker 1: heart or text I Heeart to five hundred, five hundred.
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  Speaker 1: Now my next guest. I saw him last Thursday. I
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  Speaker 1: was in d C. He's being celebrated and you should
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  Speaker 1: celebrate this young man. I have on the phone right
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  Speaker 1: here because I'm telling you the reaction and the uplift
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  Speaker 1: and we're going to talk about that to him, it's
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  Speaker 1: been amazing. He's the CEO and executive chairman of Sundown Brands,
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  Speaker 1: founder and chairman of Essence Ventures Essence Ventures, which includes
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  Speaker 1: Essence Magazine and Essence Festival. Please welcome to money making Conversations. Richie, Loeu, Dennis,
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  Speaker 1: good morning. How you doing that, sir? I am fantastic
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  Speaker 1: in yourself. Great. I know you now. I saw you
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  Speaker 1: last week and I just gotta say this. I was
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  Speaker 1: sitting in the audience, the audience that was dominant with females.
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  Speaker 1: It was being put on by Sheila Eldridge, and of
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  Speaker 1: course we also was being honored was Michell E. Banks,
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  Speaker 1: who's the president of Essence Magazine. When you come in
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  Speaker 1: a room like that, rich emotionally think, you know, people
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  Speaker 1: are so proud that a black person has repurchased Essence
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  Speaker 1: Magazine and Essence Festival. What responsibility that comes with that? Well,
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  Speaker 1: you know, the responsibilities that come with that are are
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  Speaker 1: are actually um challenges that I think we all live
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  Speaker 1: with day and day out. They just become more elevated, right. UM.
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  Speaker 1: I think that the biggest challenge is that we are, um,
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  Speaker 1: we are in a battle for our culture, right in
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  Speaker 1: a in a battle to um own our narrative, in
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  Speaker 1: a battle to establish um ourselves as as entrepreneurs and
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  Speaker 1: as business leaders and inasmuch as anybody else UH can
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  Speaker 1: be considered a business leader. So you know, those those pressures,
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  Speaker 1: those challenges, those responsibilities I think we all UH facing
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  Speaker 1: day and day out. UM, But they become elevated when um,
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  Speaker 1: you know, when you do it on a national stage.
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  Speaker 1: And so now what we've got to do is make
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  Speaker 1: sure that we're delivering for our culture, delivering for our people,
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  Speaker 1: and providing a pathway so that our youth can see,
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  Speaker 1: can see how this journey to is theirs. It was interesting.
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  Speaker 1: What my biggest take away from you is that you
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  Speaker 1: willing to share your real community. Guy. It's about the community,
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  Speaker 1: is about family, is about paying it forward. What did that?
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  Speaker 1: What did that? What did those values come from? You know,
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  Speaker 1: I was raised by a single mother, UM, and she
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  Speaker 1: was raised by a single mother. And you know, I
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  Speaker 1: had the good fortune of watching my mother and my grandmother,
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  Speaker 1: UM use the communities that we lived in to raise us,
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  Speaker 1: leverage the communities that we come from, to ground us
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  Speaker 1: in culture. The ground is in ethics, the ground is
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  Speaker 1: in mission, and the groundess and purpose. And so that
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  Speaker 1: was ingrained with me from a very early age. And
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  Speaker 1: I was able to see how as a community, how
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  Speaker 1: investing in ourselves, in in in partnering with each other
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  Speaker 1: and giving each other opportunities, and I think most importantly
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  Speaker 1: in trusting each other. Yes, Um, she was able to
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  Speaker 1: do things with us, UM that she would not have
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  Speaker 1: been able to do on her own. Now, and UM,
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  Speaker 1: I'm sorry, go ahead now, it was really because it
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  Speaker 1: was it was really amazing in the room because when
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  Speaker 1: you said, you know you were raised by a single mom,
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  Speaker 1: it was like applause just broke out. Yes, you know it,
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  Speaker 1: you know you you you're you're delivering so many slices
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  Speaker 1: of life and so many levels of uplift for so
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  Speaker 1: many women that that's what it was like. I'm telling
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  Speaker 1: you a man, watching you command that room and watching
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  Speaker 1: people look at you, it's really you. You've got something
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  Speaker 1: special happening around you. I'm sure you're aware of that. Correct. Yeah, Well,
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  Speaker 1: you know the thing is, it's not UM you know
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  Speaker 1: now Fortunately UM many people get to get to experience
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  Speaker 1: it because, as I said, it's it's much more known,
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  Speaker 1: right what we're doing now we've been doing the same
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  Speaker 1: thing for you know, seven years. So what does guy
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  Speaker 1: come from? Exactly? You know? Uh, the what we now
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  Speaker 1: have the good fortune of it is scale, right and
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  Speaker 1: and and visibility and in a platform you know that
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  Speaker 1: we can now that we can now share this from
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  Speaker 1: UM and an audience that is now UM engaged and
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  Speaker 1: and and and is acknowledging uh, the journey that we're
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  Speaker 1: on and so now our job is to is to
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  Speaker 1: bring more and more people into this journey and to
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  Speaker 1: and to spread the message so that so that they
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  Speaker 1: too can can figure out what their role is. Because
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  Speaker 1: there's a role here for all of us, right and
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  Speaker 1: and and and not only is there a role for
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  Speaker 1: all of us, we all must play a role. You know,
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  Speaker 1: you're playing a role. I'm playing a role. We all
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  Speaker 1: must play a role because as if we don't do that,
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  Speaker 1: then where we care as a community. If we play
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  Speaker 1: a role, and if we step up and and and
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  Speaker 1: and and shoulder the responsibilities for each other, then we
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  Speaker 1: now have an opportunity to go out and compete and
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  Speaker 1: to win and to use each other to create this
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  Speaker 1: ecosystem that will allow us to win. Right now, we're
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  Speaker 1: all doing it independently. We've got to do it collective work.
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  Speaker 1: You know. It's really time and everything. Because I get
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  Speaker 1: the weekly I get I'm on the essence uh mailer,
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  Speaker 1: I get the emails and updates and all that stuff,
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  Speaker 1: and when and when when you purchased it, it was
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  Speaker 1: like it had people. It felt like the the email
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  Speaker 1: was dancing and celebrate, you know, like it email was
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  Speaker 1: like yeah, yeah, yeah, we're back, We're back, We're back,
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  Speaker 1: We're black, We're black. You know, it was like really
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  Speaker 1: it really was, and in time and everything, did you
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  Speaker 1: come right on to that black path? Or run? You
• 7:56
  Speaker 1: know what I'm saying. And I know that's a lot
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  Speaker 1: of you know, police, it's used that we have out
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  Speaker 1: the industry that we're trying to deal with. We were protesting,
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  Speaker 1: but to see to celebrate what you guys are doing,
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  Speaker 1: to see that we can achieve this level of success
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  Speaker 1: and positivity. Nor you have this strong digital presence with
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  Speaker 1: essence Nor you got you know this over one point
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  Speaker 1: six million I believe monthly subscribers to the magazine, that platform,
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  Speaker 1: the social media platform. You have arrived in a in
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  Speaker 1: a place that I'm sure to kind of did it
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  Speaker 1: take you back? The reaction because everything that you know,
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  Speaker 1: what you were buying, but the emotional uplift to this,
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  Speaker 1: to this country and to the to the female populace
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  Speaker 1: was amazing. Man. I have to say that I didn't
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  Speaker 1: expect it when it When you made the deal, I
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  Speaker 1: was impressed. I said, go for it, but the but
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  Speaker 1: the emotional reaction has been amazing. Sir. Yeah, I think
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  Speaker 1: I think you know you're you can never you can
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  Speaker 1: never underestimate them the power of freedom, right, and the
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  Speaker 1: power of liberation. And that's what that's what we saw
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  Speaker 1: and that's what we experienced. We saw. We saw women celebrating, um,
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  Speaker 1: their voices being liberated, their platform being liberated. They're they're
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  Speaker 1: um uh, they're calling now um being front and center
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  Speaker 1: by them and for them, and so you know, yeah,
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  Speaker 1: it was it was really really exciting, and I think, yeah,
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  Speaker 1: thank you, and I think, but I think what's important
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  Speaker 1: now is that we don't stop at the celebration there
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  Speaker 1: you go, right, you know, the felt the celebration was
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  Speaker 1: just was just the ticket for admissions. And then I
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  Speaker 1: got there from you though you you're not a guy.
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  Speaker 1: You know, you're not a celebrator. You know, you're like, Okay,
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  Speaker 1: let's okay, let's put down the champagne glasses. We got
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  Speaker 1: work to do, exactly a lot of work to do
• 9:54
  Speaker 1: it because a visionary I know, we're about to run
• 9:58
  Speaker 1: down town this first bird. But I want to mention
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  Speaker 1: the fact that Sundown you have four brands, that you
• 10:03
  Speaker 1: are the CEO or the Sundown Sun Sun Dial brand,
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  Speaker 1: which is Shade Marsha Nubian Heritage Madam C. J. Walker
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  Speaker 1: and as that Nicaeo, Makael Heritage, and these are brands
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  Speaker 1: that that you are are right Like you said, I
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  Speaker 1: don't know how they talk me to keep running this
• 10:21
  Speaker 1: company but because but but that's your vision though. I
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  Speaker 1: know why you're still there because it's like you know,
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  Speaker 1: you have, you know exactly the vision, how they emotionally
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  Speaker 1: touch people and watching you communicate, that's why I'm so
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  Speaker 1: happy before the interview I got to see you live
• 10:37
  Speaker 1: because you are I'm just gonna keep complimenting you, my friend.
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  Speaker 1: You are a special special talent man. You understand the
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  Speaker 1: value of community. Of community, you're the understand the value
• 10:49
  Speaker 1: of unity. And when we come back, I want you
• 10:51
  Speaker 1: to talk about that one hundred million dollar UH fund
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  Speaker 1: for for women to enter into entrepreneurship and the growth
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  Speaker 1: from sixteen thous and women to two hundred thousand that
• 11:02
  Speaker 1: you talked about the d C because they're going nowhere.
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  Speaker 1: He's amazing. Hi, Welcome back to Money Making Conversations. I'm
• 11:11
  Speaker 1: your host, Ram Sean McDonald on the phone, got the
• 11:13
  Speaker 1: CEO and executive chairman of Sundown Brands, the founder and
• 11:18
  Speaker 1: chairman of ess Ventures, which includes Essence magazine and Essence Festival.
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  Speaker 1: Are you still there? Mr Dennis? Right here? Good? Before
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  Speaker 1: I Before I go into first I want to talk
• 11:29
  Speaker 1: about a couple of things. They really caught my eye,
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  Speaker 1: my ear when I was watching you speak in d C.
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  Speaker 1: It was a program called New Voices for Women of
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  Speaker 1: Entrepreneurship Opportunities for women of color. Can you expound on that. Yeah.
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  Speaker 1: So one of the one of the things that leave
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  Speaker 1: UM found this we've been building UH the Sun Dial
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  Speaker 1: business has been and you know this as well as
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  Speaker 1: probably every single one of your listeners, the challenges that
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  Speaker 1: we have as entrepreneurs of color in raising capital and
• 12:03
  Speaker 1: the disparity within which UM we have access to capital.
• 12:09
  Speaker 1: And so as we've become more and more UM, as
• 12:13
  Speaker 1: we've grown more and more and they become more and
• 12:15
  Speaker 1: more successful, our model has been what we call community commerce,
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  Speaker 1: and that is reinvesting your profits where you make your profits.
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  Speaker 1: So we make our profits in in in in UH
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  Speaker 1: in black communities around the globe. And so what we
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  Speaker 1: do is we invest back in those communities. UH with
• 12:36
  Speaker 1: with with with with the profits that we make and
• 12:39
  Speaker 1: so UM understanding the challenges of building a business, UH
• 12:45
  Speaker 1: just being an entrepreneur than understanding the challenges of being
• 12:49
  Speaker 1: a black entrepreneurs and understanding the challenges that go beyond that,
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  Speaker 1: for for for women of color entrepreneurs who have even
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  Speaker 1: less access to capital. Um, we decided that we would
• 13:03
  Speaker 1: we would put a fund together. UM. Partners with the
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  Speaker 1: Unity are on this. Put a fund together. I'm a
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  Speaker 1: million dollars fund to invest in women of color entrepreneurs
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  Speaker 1: because we're never going to have the economic stability that
• 13:17
  Speaker 1: we need in our communities when the women in our
• 13:20
  Speaker 1: communities aren't economically independent now, and so we want to
• 13:24
  Speaker 1: I'm sorry. And then when I would say that the
• 13:26
  Speaker 1: first thing that people gonna go it's just gonna be
• 13:28
  Speaker 1: a shock tank type participation. How does one and it
• 13:31
  Speaker 1: maybe early in the stage of conversation here, how would
• 13:34
  Speaker 1: one be able to become a participant? Yeah, so um,
• 13:41
  Speaker 1: it is early. Um. But what we're now doing is
• 13:44
  Speaker 1: saying go to the New Voices Fund, the New Voices
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  Speaker 1: Fund dot com and you can submit your information there. Um.
• 13:55
  Speaker 1: We're gathering that information now. People are submitting their idea
• 14:00
  Speaker 1: business plans there. Um. Uh there their pitstet and then
• 14:06
  Speaker 1: those men get reviewed. Um. We have not officially um,
• 14:11
  Speaker 1: launched the launched yet, but it's good to to to
• 14:14
  Speaker 1: get uh your information and ahead of time, UM, and
• 14:18
  Speaker 1: then we'll start evaluating those and reaching out UM to
• 14:22
  Speaker 1: those to those that have presented plans that are interesting.
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  Speaker 1: You know, our key focus is is your business UM
• 14:31
  Speaker 1: going to be a profitable business? Right UM? And then
• 14:36
  Speaker 1: so you start there, but also what is this contribution
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  Speaker 1: back to our communities? What is this contribution back to
• 14:43
  Speaker 1: our society as it moving how's the moving us forward? Right?
• 14:48
  Speaker 1: Because it's not just about being able to create a
• 14:51
  Speaker 1: business that enriches oneself. It's about being able to create
• 14:55
  Speaker 1: a business and enriches our community. And so that's that's
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  Speaker 1: the leminary criteria that we're that we're evaluating UM and
• 15:04
  Speaker 1: you know, it's amazing to see just how many talented
• 15:10
  Speaker 1: UM UH women of color entrepreneurs there are out there
• 15:14
  Speaker 1: when incredible businesses they're running, UM and to be in
• 15:18
  Speaker 1: a position to help them alleviate some of the some
• 15:21
  Speaker 1: of the challenges because for us, it's not just about
• 15:23
  Speaker 1: providing capital. I mean, we all know that capital is important,
• 15:26
  Speaker 1: but equally important is access access to market, to access
• 15:31
  Speaker 1: to business information. You know, Richard, That's why That's why
• 15:35
  Speaker 1: I created money making conversations, you know, because in the
• 15:38
  Speaker 1: fact that it's about information, and you're so right, you know,
• 15:40
  Speaker 1: I'm information, you money because I'm trying to just pret marriage.
• 15:45
  Speaker 1: It's great, because trying to connect the dots. Because but
• 15:48
  Speaker 1: I don't want to have happened this time around. It's
• 15:50
  Speaker 1: for the the African American community or the community of
• 15:54
  Speaker 1: color to be left out. You know, we've been We've
• 15:56
  Speaker 1: been left out of Silicon valid you know, supposedly, we've
• 15:59
  Speaker 1: been left out of technology. Supposedly. Now we have a
• 16:03
  Speaker 1: very powerful eighteen to thirty or four. They call it
• 16:06
  Speaker 1: the entrepreneurship generation. And I realized that if I don't,
• 16:10
  Speaker 1: it's my responsibility at this point in life to like
• 16:13
  Speaker 1: you said, what do you get back? What is your legacy?
• 16:15
  Speaker 1: My legacy is to get back and to educate. And
• 16:17
  Speaker 1: to have you on this show is important because you're
• 16:20
  Speaker 1: doing exactly what I need in my life right now.
• 16:23
  Speaker 1: When I when I when this goes out on hbc
• 16:25
  Speaker 1: U campuses, when it goes out on our Alreadio podcast,
• 16:29
  Speaker 1: I want to let you know that I am a
• 16:31
  Speaker 1: soldier in your calls. So we just keep in the loop.
• 16:34
  Speaker 1: You know if you have banners that need to be
• 16:35
  Speaker 1: posted of over seven hundred thousands of social media follows
• 16:38
  Speaker 1: on Facebook, you know, you know I have a fan
• 16:41
  Speaker 1: club or a quarter a million. I have no problem
• 16:44
  Speaker 1: trying to get this information out because it's important to
• 16:48
  Speaker 1: have information that nobody knows about. It's not information at all, exactly,
• 16:54
  Speaker 1: and that's why you gotta keep winning. Now, let's bring
• 16:56
  Speaker 1: down a little information about some of that you told me.
• 16:59
  Speaker 1: I like he was talking to me personally and d C,
• 17:01
  Speaker 1: I'm sorry, but you were talking about growing the community
• 17:06
  Speaker 1: in Africa. You know, the above their poverty line. You know,
• 17:10
  Speaker 1: what is the goal there? And and we all know
• 17:13
  Speaker 1: that you have a poverty line living below that, that's
• 17:16
  Speaker 1: my name living. So what is the mission there? And
• 17:19
  Speaker 1: what is the plan that we're talked about? The voting?
• 17:22
  Speaker 1: The new voices program here that you you developing with
• 17:25
  Speaker 1: a hundred million is at the early stages. But you
• 17:27
  Speaker 1: can't go to the website and start feeling out your applications.
• 17:31
  Speaker 1: What about this new this program that you're developing over there. Yeah.
• 17:36
  Speaker 1: So so, as I said earlier, our business model is
• 17:40
  Speaker 1: called community commerce, right, and it's the philosophy that you
• 17:44
  Speaker 1: invest your process where you make your profits are are
• 17:48
  Speaker 1: one of our you know, shape better is a big,
• 17:51
  Speaker 1: big part of our of our brand is the brand
• 17:55
  Speaker 1: and uh it is it is harvested by a very
• 18:01
  Speaker 1: very poor women in Africa. And so when we started
• 18:04
  Speaker 1: this this this um this business UM my grandmother was
• 18:08
  Speaker 1: one of those women um uh that was harvesting local
• 18:13
  Speaker 1: produce and turning them into the products. And so what
• 18:17
  Speaker 1: we wanted to do is to move women like my
• 18:19
  Speaker 1: grandmother up the value change so that they're not just
• 18:23
  Speaker 1: gathering nuts and selling nuts for pennies um, but that
• 18:26
  Speaker 1: they're actually able to create products out of that that
• 18:30
  Speaker 1: can sell out a higher dollar value, which then helped
• 18:34
  Speaker 1: them right rise above the um the poverty cycles that
• 18:39
  Speaker 1: persist in those in those communities. And by the way,
• 18:42
  Speaker 1: um I always want to point out to people that
• 18:46
  Speaker 1: even though we live in the wealthiest country on the planet,
• 18:51
  Speaker 1: there are still there are still millions of young children
• 18:56
  Speaker 1: in this country that go to bed hungry every night
• 19:00
  Speaker 1: of the school hungry every day. Right, So, so poverty
• 19:04
  Speaker 1: is not limited to um to Africa alone. In our communities,
• 19:09
  Speaker 1: we have poverty right here and so so that we're
• 19:13
  Speaker 1: trying to solve those problems holistically with the New Voice
• 19:17
  Speaker 1: is fund to create uh generational wealth or women of
• 19:22
  Speaker 1: color here. But then also with UM with our community
• 19:25
  Speaker 1: commerce programs in Africa to provide those women an opportunity
• 19:30
  Speaker 1: to create value added products that we can then sell
• 19:34
  Speaker 1: here and reinvest back into them so that they too
• 19:39
  Speaker 1: can rise above poverty. So what we now have is
• 19:42
  Speaker 1: about sixteen thousand women that are currently impacted by this
• 19:47
  Speaker 1: by this effort, and we're looking to scale that to
• 19:49
  Speaker 1: two hundred thousand over the next year. Yeah, two hundred thousand. Um,
• 19:56
  Speaker 1: thank you man, thank you. But you know, it's also
• 19:58
  Speaker 1: congratulations to your listener. They're the ones that buy our products.
• 20:01
  Speaker 1: They're the ones that enable us to make these investments,
• 20:04
  Speaker 1: and they're the ones that I think you need to
• 20:07
  Speaker 1: hold other companies accountable so that they're investing their profits
• 20:11
  Speaker 1: back where they're making their profits right, and they're making
• 20:14
  Speaker 1: their profits in our community. So UM. So that's that's
• 20:18
  Speaker 1: that's what the Community Commerce program is. Amazing. Thing about
• 20:22
  Speaker 1: this rich is that you keep everything as a team.
• 20:26
  Speaker 1: You know, you know, I make a product, you buy
• 20:28
  Speaker 1: the product, I reinvest. That's a team effort exactly. That's
• 20:32
  Speaker 1: that's a three sixty plan and that's why you win. Eat.
• 20:35
  Speaker 1: You know you you got a three sixty plan with
• 20:37
  Speaker 1: Ess magazine. You got the three six plan with Ess Festival,
• 20:41
  Speaker 1: with five thousand people attend that every year. You know
• 20:44
  Speaker 1: you have a three sixty plan with Sundal Brands. You
• 20:47
  Speaker 1: keep giving back. Man, I want to thank you for
• 20:49
  Speaker 1: coming on my show. Well, thank thank you for having it.
• 20:53
  Speaker 1: And we have to stay in touch, Rich, We gotta
• 20:55
  Speaker 1: stay in touch. But man, do it. Let's do it. Man.
• 20:57
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