1
00:00:00,400 --> 00:00:03,520
Speaker 1: Black, Tach Green Money, Will Lucas here back with another

2
00:00:04,160 --> 00:00:08,840
Speaker 1: really exciting episode. We've got a Jaylen Smith, NFL linebacker

3
00:00:08,920 --> 00:00:13,480
Speaker 1: and visionary entrepreneur founded the Minority in the Entrepreneurship Institute

4
00:00:13,480 --> 00:00:17,320
Speaker 1: to fund and uplift minority owned businesses and beyond football,

5
00:00:17,640 --> 00:00:21,439
Speaker 1: He's focused on building generational wealth and democratizing access to

6
00:00:21,520 --> 00:00:26,520
Speaker 1: capital for underrepresented founders and alongside Michael Edo, he's a

7
00:00:26,600 --> 00:00:29,280
Speaker 1: veteran in the business of sports and entertainment, founder of

8
00:00:29,400 --> 00:00:34,400
Speaker 1: Rise and the driving force behind transforming athletes into legacy builders.

9
00:00:34,800 --> 00:00:38,840
Speaker 1: With two decades in the game, he's managing athlete enterprises

10
00:00:38,880 --> 00:00:42,280
Speaker 1: and advancing equity through his work with MII Capital and

11
00:00:42,320 --> 00:00:44,960
Speaker 1: the Collective. So super guy to have you both here today.

12
00:00:47,120 --> 00:00:48,440
Speaker 2: Thankful to be here with.

13
00:00:48,400 --> 00:00:52,519
Speaker 1: You, man, absolutely absolutely so. I want to start with you, Jalen.

14
00:00:53,760 --> 00:00:59,480
Speaker 1: There is a lot of athletes who start with just

15
00:00:59,480 --> 00:01:02,480
Speaker 1: thinking about sports, but when you make it to your level,

16
00:01:02,520 --> 00:01:06,400
Speaker 1: you're making money from the sports, and there's a mindset

17
00:01:06,440 --> 00:01:08,600
Speaker 1: shift that needs to happen. And I'm going to ask

18
00:01:08,640 --> 00:01:10,399
Speaker 1: both of you guys if I want to start with you, Like,

19
00:01:10,480 --> 00:01:13,560
Speaker 1: what is that mindset shift that an athlete needs to

20
00:01:13,600 --> 00:01:16,520
Speaker 1: make to get serious about their finances, serious about growing

21
00:01:16,560 --> 00:01:17,400
Speaker 1: their finances.

22
00:01:17,840 --> 00:01:23,320
Speaker 3: Off the field, I think the biggest thing is education.

23
00:01:25,160 --> 00:01:27,959
Speaker 3: A lot of us and my peers, we go into

24
00:01:28,000 --> 00:01:30,840
Speaker 3: this thing where we make it to the professional level,

25
00:01:31,880 --> 00:01:35,280
Speaker 3: and we step and walk into a mass amount of

26
00:01:35,280 --> 00:01:38,520
Speaker 3: money in our eyes. Because most of us don't come

27
00:01:38,560 --> 00:01:41,440
Speaker 3: from money, we don't understand the knowledge of it.

28
00:01:43,000 --> 00:01:45,839
Speaker 2: We don't understand the value of money.

29
00:01:45,880 --> 00:01:48,360
Speaker 3: So being able to preserve it, being able to make

30
00:01:48,400 --> 00:01:49,960
Speaker 3: it is one thing, but being able to preserve it

31
00:01:50,040 --> 00:01:53,400
Speaker 3: is another. And I think that's the biggest thing where

32
00:01:54,560 --> 00:01:58,559
Speaker 3: we can really learn from having experts around us to

33
00:01:58,600 --> 00:02:01,800
Speaker 3: help us accomplish what we want to accomplish, not only

34
00:02:01,840 --> 00:02:02,160
Speaker 3: on the.

35
00:02:02,080 --> 00:02:05,160
Speaker 2: Field, but off the field. Think about Jerry Jones.

36
00:02:05,160 --> 00:02:09,040
Speaker 3: He drafted me in the second round of the twenty

37
00:02:09,080 --> 00:02:13,960
Speaker 3: sixteen draft, right, and he drafted me because I'm an

38
00:02:14,000 --> 00:02:16,240
Speaker 3: expert at playing the linebacker position.

39
00:02:17,480 --> 00:02:18,359
Speaker 2: Now you flip.

40
00:02:18,440 --> 00:02:23,239
Speaker 3: If you flip that, you think about us us entrepreneurs

41
00:02:23,280 --> 00:02:25,640
Speaker 3: as a business owner, us players as a business as

42
00:02:25,720 --> 00:02:26,920
Speaker 3: business owners.

43
00:02:27,000 --> 00:02:30,519
Speaker 2: We don't have the proper experts on our.

44
00:02:30,440 --> 00:02:35,760
Speaker 3: Business team taking care of our and managing our full

45
00:02:35,800 --> 00:02:37,000
Speaker 3: scope of our enterprise.

46
00:02:37,200 --> 00:02:40,359
Speaker 2: And that's the most lacking thing.

47
00:02:40,560 --> 00:02:42,840
Speaker 4: A lot of my guys, a lot of my peers,

48
00:02:42,919 --> 00:02:45,720
Speaker 4: they hire a financial advisor and they give them the

49
00:02:45,760 --> 00:02:49,560
Speaker 4: money and a ask the fininancial advisor to tell us

50
00:02:49,600 --> 00:02:52,520
Speaker 4: exactly what we want, you know, exactly.

51
00:02:52,080 --> 00:02:53,240
Speaker 2: What should we do with the money.

52
00:02:53,280 --> 00:02:55,160
Speaker 3: But we don't know what we don't know, So we

53
00:02:55,240 --> 00:02:58,280
Speaker 3: got to have experts, you know, guys like Michael Lido

54
00:02:58,400 --> 00:03:03,560
Speaker 3: and Risely Office to help us accomplish what we want

55
00:03:03,600 --> 00:03:05,239
Speaker 3: to off the off the field.

56
00:03:06,639 --> 00:03:08,280
Speaker 1: Yeah, I want to bring in Michael on this and

57
00:03:08,320 --> 00:03:11,880
Speaker 1: add a little bit of a different perspective on it is.

58
00:03:12,240 --> 00:03:14,840
Speaker 1: You know, Jalen talked about, you know, the guys who

59
00:03:14,840 --> 00:03:17,119
Speaker 1: are getting the money and then you know, asking the questions.

60
00:03:17,360 --> 00:03:19,440
Speaker 1: But there's a difference between that and people who like

61
00:03:19,560 --> 00:03:22,520
Speaker 1: want to be involved and want to really be educated

62
00:03:22,960 --> 00:03:25,519
Speaker 1: so that they're not just taking cues from somebody else.

63
00:03:25,560 --> 00:03:28,600
Speaker 1: Can you talk about what the difference is between and

64
00:03:28,639 --> 00:03:30,960
Speaker 1: how we make more of us have that, you know,

65
00:03:31,040 --> 00:03:31,560
Speaker 1: that shift.

66
00:03:34,120 --> 00:03:38,400
Speaker 5: I think a lot of it is. I think at

67
00:03:38,440 --> 00:03:41,280
Speaker 5: the origin of it, I think, and especially for young

68
00:03:41,320 --> 00:03:44,839
Speaker 5: black men, young black athletes, I think it's an identity thing,

69
00:03:45,800 --> 00:03:48,560
Speaker 5: right like your whole life, you grew up and you

70
00:03:48,560 --> 00:03:52,600
Speaker 5: see Muhammad Ali you see Walter Payton, you see Michael Jordan,

71
00:03:52,720 --> 00:03:56,320
Speaker 5: Lebron James, and you identify and you believe when you

72
00:03:56,360 --> 00:03:59,800
Speaker 5: look at identification of I can be a great athlete,

73
00:03:59,840 --> 00:04:06,160
Speaker 5: and people tell you you can, people affirm you when

74
00:04:06,200 --> 00:04:08,120
Speaker 5: you become that. But when it comes to can I

75
00:04:08,160 --> 00:04:12,000
Speaker 5: be a multimillionaire that I have nothing to do with sports?

76
00:04:12,400 --> 00:04:15,080
Speaker 5: Can I be an entrepreneur? Can I be an investor?

77
00:04:15,520 --> 00:04:17,400
Speaker 5: Most of the time when you look at that, it's

78
00:04:17,440 --> 00:04:19,719
Speaker 5: not men that look like you, and you don't really

79
00:04:19,760 --> 00:04:23,640
Speaker 5: identify with that. So fundamentally, when I come into this money,

80
00:04:23,680 --> 00:04:28,040
Speaker 5: what I'm confident in is my ability to earn money

81
00:04:28,440 --> 00:04:32,400
Speaker 5: from playing this game right, earn money from leveraging my brand.

82
00:04:32,920 --> 00:04:34,839
Speaker 5: But when it comes for me to be able to

83
00:04:35,640 --> 00:04:42,800
Speaker 5: lead people make investment decisions, do due diligence, analyze investments myself,

84
00:04:42,960 --> 00:04:46,520
Speaker 5: I don't even really know if I believe that I'm

85
00:04:46,600 --> 00:04:50,400
Speaker 5: qualified or capable of doing that. So what's easier for

86
00:04:50,480 --> 00:04:54,760
Speaker 5: me to do is to just passively be involved and

87
00:04:54,839 --> 00:04:58,160
Speaker 5: defer it off of somebody else. And I think fundamentally

88
00:04:58,160 --> 00:05:02,480
Speaker 5: we have to change that identity. You first, no, I'm capable,

89
00:05:02,920 --> 00:05:06,039
Speaker 5: I'm capable, I'm able, and I just need someone that's

90
00:05:06,040 --> 00:05:10,160
Speaker 5: willing to educate me and put me on game so

91
00:05:10,200 --> 00:05:11,440
Speaker 5: that I can do that and become that.

92
00:05:13,360 --> 00:05:17,800
Speaker 1: So why do so many athletes end up broke a

93
00:05:17,880 --> 00:05:20,599
Speaker 1: year or two after retiring, Jalen, I'll start with you.

94
00:05:23,040 --> 00:05:26,479
Speaker 3: A lot of it is because we focus so much

95
00:05:26,520 --> 00:05:29,680
Speaker 3: on earning myself, my peers.

96
00:05:29,720 --> 00:05:31,560
Speaker 2: Being a professional athlete.

97
00:05:31,440 --> 00:05:35,040
Speaker 3: You focus so much on earning that you don't understand

98
00:05:35,480 --> 00:05:39,960
Speaker 3: the value. Like you're we all understand that the windows short, right,

99
00:05:41,200 --> 00:05:42,080
Speaker 3: phenomenal career.

100
00:05:42,200 --> 00:05:43,719
Speaker 2: Let's say you have a ten year career.

101
00:05:44,520 --> 00:05:48,400
Speaker 3: You're earning this high power capital each in cash flow,

102
00:05:48,440 --> 00:05:51,719
Speaker 3: each and every year, right, Well, the day that you retire,

103
00:05:51,880 --> 00:05:55,640
Speaker 3: the day that the NFL or NBA, someone's a team

104
00:05:56,120 --> 00:05:59,159
Speaker 3: you know, deems you as not qualified. They don't want

105
00:05:59,200 --> 00:06:01,839
Speaker 3: you in the league anymore. Were right, and you have

106
00:06:01,920 --> 00:06:05,680
Speaker 3: to hang up those shoes. Well, if you've the ten

107
00:06:05,760 --> 00:06:09,919
Speaker 3: years that you've played, you've established a lifestyle, an annual

108
00:06:10,640 --> 00:06:15,920
Speaker 3: living expense budget, and the minute you stopped playing, that

109
00:06:16,000 --> 00:06:18,960
Speaker 3: cash flow is no longer coming in. So now you

110
00:06:19,040 --> 00:06:22,600
Speaker 3: have to divvy up how much how much cash flow

111
00:06:22,600 --> 00:06:25,640
Speaker 3: have I actually earned and saved and I have in

112
00:06:25,680 --> 00:06:31,040
Speaker 3: this bucket? So say I got five million dollars of

113
00:06:31,080 --> 00:06:35,640
Speaker 3: earning money after taxes, living expenses, family, eb.

114
00:06:36,279 --> 00:06:36,840
Speaker 2: Everything is.

115
00:06:36,920 --> 00:06:38,800
Speaker 3: Let's say i got five million dollars to my name,

116
00:06:39,360 --> 00:06:43,880
Speaker 3: but I'm still living on a five hundred thousand to

117
00:06:44,400 --> 00:06:49,680
Speaker 3: a million dollar annual living expenses. Right, So each year

118
00:06:49,720 --> 00:06:52,000
Speaker 3: I'm cutting into that living but I don't have that

119
00:06:52,160 --> 00:06:55,080
Speaker 3: NFL money coming in no more. So now that five year,

120
00:06:55,160 --> 00:06:58,080
Speaker 3: that five million goes down to four million, goes down

121
00:06:58,160 --> 00:06:58,920
Speaker 3: to three million.

122
00:06:59,200 --> 00:07:01,240
Speaker 2: Now I'm sitting at two million and one million.

123
00:07:01,240 --> 00:07:03,720
Speaker 3: And then that's that's how a lot of our peers

124
00:07:03,960 --> 00:07:08,120
Speaker 3: go broke because post playing ball, you you have the

125
00:07:08,160 --> 00:07:10,560
Speaker 3: same lifestyle, but you're not have you don't have the

126
00:07:10,600 --> 00:07:15,920
Speaker 3: cash flow or financial plan to help you withstain and

127
00:07:15,960 --> 00:07:19,200
Speaker 3: continue to grow your bottom line.

128
00:07:19,080 --> 00:07:20,920
Speaker 1: Yeah, I want you to go a step further because

129
00:07:20,920 --> 00:07:25,960
Speaker 1: I think we see these humongous contracts and we really

130
00:07:25,960 --> 00:07:28,480
Speaker 1: we think, you know, hey, you know JAYLN got this

131
00:07:28,640 --> 00:07:31,480
Speaker 1: X number deal, so and so Russell Russell Wilson got

132
00:07:31,520 --> 00:07:34,720
Speaker 1: this X number deal. And we ignorantly and not not

133
00:07:34,720 --> 00:07:38,160
Speaker 1: not just you know, downplaying, but like we sometimes confuse

134
00:07:38,240 --> 00:07:40,240
Speaker 1: that to be to assume that they take that home

135
00:07:41,040 --> 00:07:43,720
Speaker 1: and so and that and that's not true obviously, And

136
00:07:43,760 --> 00:07:45,560
Speaker 1: I just I just I realized this a couple of

137
00:07:45,640 --> 00:07:47,480
Speaker 1: years ago. Like, when you play in a different state,

138
00:07:47,520 --> 00:07:49,640
Speaker 1: that state wants to tax you while you're there, and

139
00:07:49,680 --> 00:07:53,160
Speaker 1: so can you talk about how the money gets broken

140
00:07:53,240 --> 00:07:54,800
Speaker 1: down and you can use simple math. Do let's just

141
00:07:54,840 --> 00:07:56,960
Speaker 1: say it's you know, your salaries a million dollars? Can

142
00:07:57,000 --> 00:07:59,200
Speaker 1: you talk about all the things that get taken out

143
00:07:59,240 --> 00:08:00,600
Speaker 1: before you see any of that.

144
00:08:02,560 --> 00:08:07,240
Speaker 3: So you you get paid a million dollars on a salary,

145
00:08:07,600 --> 00:08:09,080
Speaker 3: you immediately.

146
00:08:08,480 --> 00:08:12,680
Speaker 2: Got to cut that. It has just off of pure taxes.

147
00:08:12,720 --> 00:08:17,040
Speaker 3: And then in the National Football League meet playing in

148
00:08:17,120 --> 00:08:20,320
Speaker 3: Dallas for a long time, that was a guarantee eight

149
00:08:20,440 --> 00:08:25,200
Speaker 3: games that were taxed exempt. When it comes to no state,

150
00:08:25,440 --> 00:08:29,360
Speaker 3: no state income taxes. So based on the teams that

151
00:08:29,440 --> 00:08:32,000
Speaker 3: you play for, the city, the states that you play in,

152
00:08:32,160 --> 00:08:33,800
Speaker 3: like if you play in Nevada, or if you play

153
00:08:33,800 --> 00:08:35,679
Speaker 3: at Tennessee, you play in Florida.

154
00:08:35,840 --> 00:08:38,480
Speaker 2: Of all these teams have professional teams.

155
00:08:38,520 --> 00:08:41,960
Speaker 3: Well, if you play in those states during that specific week,

156
00:08:42,320 --> 00:08:43,800
Speaker 3: there's no state income tax.

157
00:08:44,760 --> 00:08:47,559
Speaker 2: Now you got games where you play in Los Angeles

158
00:08:47,559 --> 00:08:49,320
Speaker 2: and New York. I played in New York for two

159
00:08:49,400 --> 00:08:51,040
Speaker 2: years with the Giants, and you.

160
00:08:51,000 --> 00:08:54,840
Speaker 3: Know those are a lot those that percentage in that

161
00:08:54,960 --> 00:08:59,040
Speaker 3: taxes is increased tremendously, so.

162
00:08:59,080 --> 00:09:00,840
Speaker 2: It's unique with how they do it.

163
00:09:00,880 --> 00:09:03,920
Speaker 3: But you just gotta understand that whatever you make, you

164
00:09:04,000 --> 00:09:05,720
Speaker 3: pretty much gotta cut that in half. And then you

165
00:09:05,760 --> 00:09:08,840
Speaker 3: have to make sure that your c PAS and your

166
00:09:08,880 --> 00:09:11,679
Speaker 3: account and your financial plan is set up correctly because

167
00:09:11,920 --> 00:09:14,079
Speaker 3: a lot of guys get hit on the back end

168
00:09:14,120 --> 00:09:18,080
Speaker 3: because they didn't pay their taxes properly. And now you're

169
00:09:18,120 --> 00:09:21,920
Speaker 3: old even more money. So it can create It's either

170
00:09:21,920 --> 00:09:23,959
Speaker 3: you're gonna pay for it now. Mike talks about it

171
00:09:23,960 --> 00:09:26,240
Speaker 3: a lot. You're gonna pay for it now, or you're

172
00:09:26,240 --> 00:09:28,600
Speaker 3: gonna pay for it later. It's just about how you

173
00:09:28,640 --> 00:09:30,720
Speaker 3: want to go about it. Then you know, we encourage

174
00:09:30,720 --> 00:09:32,120
Speaker 3: going about it the right way.

175
00:09:33,600 --> 00:09:34,360
Speaker 1: Can you talk about this?

176
00:09:34,400 --> 00:09:34,520
Speaker 5: Might?

177
00:09:34,559 --> 00:09:36,640
Speaker 1: I want you to just chiming anything that you want

178
00:09:36,679 --> 00:09:37,079
Speaker 1: to add to.

179
00:09:37,200 --> 00:09:40,280
Speaker 5: Yeah, I think the number one reason why athletes go

180
00:09:40,440 --> 00:09:44,040
Speaker 5: broke is because of because of the fear of money.

181
00:09:45,360 --> 00:09:46,840
Speaker 1: Same say more about that.

182
00:09:47,480 --> 00:09:51,000
Speaker 5: Well, I think it's the same reason that I think

183
00:09:51,040 --> 00:09:53,960
Speaker 5: it's the same reason why police police kill black people.

184
00:09:55,000 --> 00:09:55,400
Speaker 1: Mm hmm.

185
00:09:56,320 --> 00:10:01,240
Speaker 5: You fear what you don't understand, and so I think

186
00:10:01,280 --> 00:10:04,400
Speaker 5: that we feel. I talk to my clients all the time.

187
00:10:04,440 --> 00:10:08,000
Speaker 5: I present opportunities to my guys that it could be

188
00:10:08,000 --> 00:10:12,480
Speaker 5: a five x multiple over a four year old, it

189
00:10:12,480 --> 00:10:14,240
Speaker 5: could be whatever, and I give it to one of

190
00:10:14,240 --> 00:10:17,679
Speaker 5: my clients and they so damn fearful of it and

191
00:10:17,840 --> 00:10:21,000
Speaker 5: afraid of it because they don't understand it. It goes

192
00:10:21,000 --> 00:10:23,199
Speaker 5: back to what Jalen said about education. The only way

193
00:10:23,240 --> 00:10:26,000
Speaker 5: you're gonna get police to stop killing black people is

194
00:10:26,040 --> 00:10:29,600
Speaker 5: to help them understand black people, and educating it's the

195
00:10:29,640 --> 00:10:32,200
Speaker 5: same thing with money. You gotta be able to educate

196
00:10:32,240 --> 00:10:34,720
Speaker 5: them so they understand it, so they no longer fear it.

197
00:10:35,080 --> 00:10:37,240
Speaker 5: So when you fear it, it's like, well, damn, I

198
00:10:37,280 --> 00:10:39,160
Speaker 5: fear it. I don't understand it. I'm just gonna go

199
00:10:39,160 --> 00:10:42,120
Speaker 5: spend it. I'm just gonna go waste it and go

200
00:10:42,200 --> 00:10:45,920
Speaker 5: do this because I'm fearful. I'm a I'm a stasher

201
00:10:45,920 --> 00:10:48,320
Speaker 5: over here. I'm a spend it because I don't know

202
00:10:48,360 --> 00:10:51,400
Speaker 5: how to multiply it. I don't know how to invest it.

203
00:10:51,720 --> 00:10:54,120
Speaker 5: I don't know. This stuff is so foreign to me.

204
00:10:54,760 --> 00:10:58,720
Speaker 5: I don't understand the language. I don't understand any of it.

205
00:10:58,760 --> 00:11:01,679
Speaker 5: I've never been taught on it. It's so foreign. So

206
00:11:01,840 --> 00:11:04,200
Speaker 5: I'm just going to do the adverse effect of just

207
00:11:04,280 --> 00:11:05,760
Speaker 5: go spend it. Know how to do that?

208
00:11:07,480 --> 00:11:09,320
Speaker 1: Yeah, I want you to because you bring up an

209
00:11:09,360 --> 00:11:10,920
Speaker 1: interesting a lot a lot of times.

210
00:11:12,440 --> 00:11:14,559
Speaker 2: Good. Oh sorry, Well I wanted to add one thing.

211
00:11:15,240 --> 00:11:19,280
Speaker 3: So a lot of us have been playing the game

212
00:11:19,320 --> 00:11:22,240
Speaker 3: of football or whatever sport that we're in that we're

213
00:11:22,360 --> 00:11:23,840
Speaker 3: that we're in that make it, we make it to

214
00:11:23,880 --> 00:11:24,760
Speaker 3: the professional level.

215
00:11:24,960 --> 00:11:26,800
Speaker 2: We've been playing since we were seven years old.

216
00:11:28,120 --> 00:11:34,240
Speaker 6: So that's a minimum of thirteen year experience in diting

217
00:11:34,280 --> 00:11:38,880
Speaker 6: myself into learning about this sport and perfecting my craft

218
00:11:38,960 --> 00:11:39,520
Speaker 6: in this sport.

219
00:11:40,440 --> 00:11:43,479
Speaker 2: Now become now be I acquire.

220
00:11:43,160 --> 00:11:45,600
Speaker 3: Some money at twenty years old, twenty one years old

221
00:11:46,400 --> 00:11:51,920
Speaker 3: with zero knowledge on how to manage, grow and preserve it.

222
00:11:52,440 --> 00:11:54,679
Speaker 3: I didn't grow up in my household with the budget,

223
00:11:55,080 --> 00:11:59,520
Speaker 3: you know. So that's another It's another layer of dynamic

224
00:11:59,600 --> 00:12:01,600
Speaker 3: that we have to think about as well. And why

225
00:12:02,000 --> 00:12:04,240
Speaker 3: you know how my peers are growing are going broke.

226
00:12:04,880 --> 00:12:06,680
Speaker 1: And I want to add more on, more on because

227
00:12:06,679 --> 00:12:08,839
Speaker 1: you just made me think of something. You got a

228
00:12:08,880 --> 00:12:12,040
Speaker 1: community people waiting for you to make it, so that

229
00:12:12,120 --> 00:12:17,199
Speaker 1: because you're the hope.

230
00:12:17,360 --> 00:12:19,800
Speaker 5: But but, but The thing about it is in that situation,

231
00:12:19,960 --> 00:12:26,599
Speaker 5: this is what wealthy people who are successful investors and

232
00:12:26,800 --> 00:12:31,720
Speaker 5: entrepreneurs master formulas and systems, and they know how to

233
00:12:31,760 --> 00:12:35,840
Speaker 5: repeat what they do. They know how to repeat it.

234
00:12:37,400 --> 00:12:41,920
Speaker 5: So you're earning money, you're off of playing a game

235
00:12:42,400 --> 00:12:45,640
Speaker 5: that has an expiration date on it. So when you

236
00:12:45,720 --> 00:12:48,480
Speaker 5: got those people waiting on it, it'd be different if

237
00:12:48,520 --> 00:12:53,280
Speaker 5: I earned the twenty million, ten million after taxes, after

238
00:12:53,400 --> 00:12:56,400
Speaker 5: my living expenses, and after I paid my professional fees,

239
00:12:56,880 --> 00:12:59,439
Speaker 5: that ten million that got cut in half by taxes

240
00:12:59,840 --> 00:13:04,839
Speaker 5: is now eight million or seven million. And now how

241
00:13:04,880 --> 00:13:09,240
Speaker 5: do I get that money to compound and grow and

242
00:13:09,320 --> 00:13:12,400
Speaker 5: multiply so that I just can't take care of my

243
00:13:12,520 --> 00:13:14,640
Speaker 5: family for a short bit of time, but I can

244
00:13:14,679 --> 00:13:20,480
Speaker 5: take care of them forever. A lot of athletes treat

245
00:13:20,559 --> 00:13:25,600
Speaker 5: their career earnings in their career days like a long vacation.

246
00:13:26,440 --> 00:13:29,400
Speaker 5: It's like a really really good long vacation. But that

247
00:13:29,520 --> 00:13:33,520
Speaker 5: vacation gonna come to an end because they haven't learned

248
00:13:33,559 --> 00:13:36,560
Speaker 5: how to repeat it and formulate it to where it

249
00:13:36,679 --> 00:13:37,679
Speaker 5: just keeps on going.

250
00:13:39,360 --> 00:13:41,439
Speaker 1: And Michael, I want you to take this one first.

251
00:13:41,440 --> 00:13:43,800
Speaker 1: You know, because I hear stories and you know I'm

252
00:13:43,840 --> 00:13:46,640
Speaker 1: sure you guys may have heard similar stories where there's

253
00:13:46,960 --> 00:13:49,160
Speaker 1: as soon as you get that first check, Jayln, you

254
00:13:49,440 --> 00:13:51,400
Speaker 1: get that first check in people, you know, your community

255
00:13:51,400 --> 00:13:53,679
Speaker 1: has been waiting on you to get it. Everybody's got

256
00:13:53,679 --> 00:13:56,200
Speaker 1: a business idea around you. Everybody wants you to become

257
00:13:56,240 --> 00:13:59,320
Speaker 1: their investor. Now everybody wants, you know, a piece of

258
00:13:59,480 --> 00:14:02,920
Speaker 1: that check that you got. How do you, Michael, as

259
00:14:02,960 --> 00:14:07,160
Speaker 1: an advisor, both help them vet those opportunities and protect

260
00:14:07,200 --> 00:14:10,280
Speaker 1: them from those opportunities because sometimes they may be in

261
00:14:10,320 --> 00:14:12,680
Speaker 1: such a relationship with this person who's bringing this idea

262
00:14:12,679 --> 00:14:13,920
Speaker 1: that it's hard for them to say no.

263
00:14:15,080 --> 00:14:23,920
Speaker 5: Yeah, it's a challenge. It's not easy because the reprogramming

264
00:14:24,000 --> 00:14:29,000
Speaker 5: and the reprogramming and the education takes a long time,

265
00:14:29,440 --> 00:14:32,320
Speaker 5: and it varies based on the individual, you know, based

266
00:14:32,360 --> 00:14:34,560
Speaker 5: on where they are and what they come from. And

267
00:14:34,680 --> 00:14:37,680
Speaker 5: so we don't try to control brothers. We just try

268
00:14:37,720 --> 00:14:39,720
Speaker 5: to educate them. We try to protect them, and we

269
00:14:39,760 --> 00:14:43,000
Speaker 5: try to help them profit. But we're going to try

270
00:14:43,040 --> 00:14:45,560
Speaker 5: to challenge them, explain things to them. I think when

271
00:14:45,560 --> 00:14:49,600
Speaker 5: you're investing in people, fifty percent of your investment is

272
00:14:49,640 --> 00:14:55,400
Speaker 5: not the idea for the product, it's the individual that's

273
00:14:55,520 --> 00:14:59,280
Speaker 5: leading it. It's the jockey, not the horse. So if

274
00:14:59,320 --> 00:15:01,440
Speaker 5: you have a job that you are your day one

275
00:15:02,080 --> 00:15:05,120
Speaker 5: and you want to support them, I wouldn't recommend supporting

276
00:15:05,160 --> 00:15:07,080
Speaker 5: them by helping them start a business out the gate

277
00:15:07,160 --> 00:15:10,640
Speaker 5: the thing and train for. When you hear the stories

278
00:15:10,680 --> 00:15:15,320
Speaker 5: of you know Lebron James and Maverick Carter, the first

279
00:15:15,360 --> 00:15:17,400
Speaker 5: part of that is that you heard that Maverick Carter

280
00:15:17,520 --> 00:15:21,560
Speaker 5: want to go get educated and did an internship. When

281
00:15:21,600 --> 00:15:24,120
Speaker 5: you hear about David Muger letter as a great agent

282
00:15:24,840 --> 00:15:26,400
Speaker 5: and you know his boys wanted him to go be

283
00:15:26,440 --> 00:15:28,840
Speaker 5: an agent, he wouldn't get an internship with a one

284
00:15:30,160 --> 00:15:32,360
Speaker 5: you got. You got to require for the people that

285
00:15:32,400 --> 00:15:36,600
Speaker 5: you want to support that they get qualified and what

286
00:15:36,640 --> 00:15:39,680
Speaker 5: they want to do, don't invest in And at what

287
00:15:39,720 --> 00:15:42,160
Speaker 5: I would say is this, those kind of plays are

288
00:15:42,240 --> 00:15:46,520
Speaker 5: passion players. That's about passion. Is this move about passion

289
00:15:46,600 --> 00:15:50,400
Speaker 5: or is this move about proper and if it's about profit,

290
00:15:50,480 --> 00:15:52,080
Speaker 5: we need to take a different angle. One of the

291
00:15:52,080 --> 00:15:55,640
Speaker 5: things that Jalen did so intelligently when he launch his MBI,

292
00:15:56,000 --> 00:16:00,320
Speaker 5: his Minority Entrepreneurship Institute, he did that from an impacting

293
00:16:00,400 --> 00:16:05,000
Speaker 5: standpoint where he was able to invest in people for impact,

294
00:16:05,320 --> 00:16:08,680
Speaker 5: but he did it through his non for profit, so

295
00:16:08,720 --> 00:16:11,520
Speaker 5: those were charitable dollars that he was getting a tax

296
00:16:11,600 --> 00:16:15,000
Speaker 5: right off that can still produce a profit, but to

297
00:16:15,080 --> 00:16:18,840
Speaker 5: his charitable contribution. You got to understand, am I doing

298
00:16:18,840 --> 00:16:22,680
Speaker 5: this for charity or profit? And if you're doing it

299
00:16:22,760 --> 00:16:24,840
Speaker 5: solely for profit, you got to look at it straight

300
00:16:24,960 --> 00:16:27,400
Speaker 5: like that. It's business and a lot of the time

301
00:16:28,240 --> 00:16:30,600
Speaker 5: for the athletes to have this community waiting on them,

302
00:16:30,600 --> 00:16:33,960
Speaker 5: it's an emotional tie. I I got to be solid,

303
00:16:34,040 --> 00:16:36,480
Speaker 5: I gotta be loyal. I got to help people out,

304
00:16:36,480 --> 00:16:39,240
Speaker 5: which I'm all about. I'm all about elevating the community

305
00:16:39,280 --> 00:16:42,400
Speaker 5: and group economics for our people. But we got to

306
00:16:42,440 --> 00:16:46,360
Speaker 5: put a system in place to do that appropriately. That's off.

307
00:16:47,000 --> 00:16:48,880
Speaker 1: Yeah, I'm gonna get it to you Jaylin too, But

308
00:16:49,040 --> 00:16:51,080
Speaker 1: I want to again put another spend on this is

309
00:16:51,120 --> 00:16:54,000
Speaker 1: how do you decide who's a part of your business

310
00:16:54,040 --> 00:16:56,520
Speaker 1: circle versus you got to be in You can be

311
00:16:56,560 --> 00:16:59,280
Speaker 1: in my personal circle, but you're not touching the business circle.

312
00:17:01,000 --> 00:17:01,680
Speaker 5: I think.

313
00:17:05,440 --> 00:17:06,119
Speaker 2: You have to.

314
00:17:07,000 --> 00:17:08,800
Speaker 3: You got to look in the mirror. You got to

315
00:17:08,800 --> 00:17:15,200
Speaker 3: be real with yourself, especially with loved ones. You can

316
00:17:15,280 --> 00:17:19,600
Speaker 3: identify those A lot of a lot of US athletes

317
00:17:20,359 --> 00:17:25,960
Speaker 3: suffer from saviors complex, which is rooted in I do

318
00:17:26,080 --> 00:17:29,000
Speaker 3: not want to I do not like being the only

319
00:17:29,040 --> 00:17:32,160
Speaker 3: one that made it out of my situation of where

320
00:17:32,160 --> 00:17:34,800
Speaker 3: I'm from from my hood, you know, and I had

321
00:17:34,840 --> 00:17:37,639
Speaker 3: an older brother. I have an older brother who we

322
00:17:37,680 --> 00:17:40,600
Speaker 3: played in Dallas for three years together. Same mom, same dad,

323
00:17:40,720 --> 00:17:44,800
Speaker 3: so a little different dynamic. But still that savior's complex

324
00:17:45,400 --> 00:17:48,920
Speaker 3: complex exists where I don't like being the only one

325
00:17:48,920 --> 00:17:51,520
Speaker 3: out of my out of my friend group that has

326
00:17:51,560 --> 00:17:54,200
Speaker 3: a mass over a million.

327
00:17:53,920 --> 00:17:55,880
Speaker 2: Dollars, you know, and.

328
00:17:57,720 --> 00:17:59,840
Speaker 3: A lot of my a lot of my driving for

329
00:18:00,680 --> 00:18:08,200
Speaker 3: of trying to help different individuals that I love succeed

330
00:18:08,640 --> 00:18:12,040
Speaker 3: and excel. It's just about finding, Okay, what's the what's

331
00:18:12,080 --> 00:18:15,440
Speaker 3: this person's talent, what is this person's passion, and how

332
00:18:15,440 --> 00:18:17,280
Speaker 3: can I help support them.

333
00:18:17,119 --> 00:18:19,439
Speaker 2: In growing to that.

334
00:18:20,640 --> 00:18:24,960
Speaker 3: Now, some of some of your loved ones just may

335
00:18:25,000 --> 00:18:27,640
Speaker 3: not be ready, some of them may not have the desire,

336
00:18:28,080 --> 00:18:29,919
Speaker 3: and you just kind of kind of gotta kind of

337
00:18:29,960 --> 00:18:32,280
Speaker 3: love them for who they are and where they are.

338
00:18:32,160 --> 00:18:33,280
Speaker 2: And keep them in this box.

339
00:18:34,359 --> 00:18:38,440
Speaker 3: But for those very few of your loved ones who

340
00:18:38,560 --> 00:18:41,600
Speaker 3: does desire to be great in the entrepreneurial space or

341
00:18:41,800 --> 00:18:45,800
Speaker 3: whatever may have it. You gotta surround them around people

342
00:18:45,840 --> 00:18:50,160
Speaker 3: who can educate them. That that grows their mind, grows

343
00:18:50,200 --> 00:18:53,480
Speaker 3: their mental gives them the knowledge to where then they

344
00:18:53,520 --> 00:18:57,560
Speaker 3: can they may be able to add value in your enterprise.

345
00:18:58,359 --> 00:19:02,240
Speaker 3: But you gotta Lebron James. His whole thing with Rich

346
00:19:02,320 --> 00:19:06,520
Speaker 3: Paul was I just want you around me. You can

347
00:19:06,600 --> 00:19:08,960
Speaker 3: We're gonna find what the space is. We're gonna find

348
00:19:09,000 --> 00:19:11,560
Speaker 3: what the lane is for you. It's about having the

349
00:19:11,640 --> 00:19:15,240
Speaker 3: right people in the right seat, uh, And that's what matter.

350
00:19:15,280 --> 00:19:17,199
Speaker 2: But when it comes to family, you gotta have somebody.

351
00:19:17,359 --> 00:19:19,280
Speaker 3: You gotta have somebody in your corner who can who

352
00:19:19,280 --> 00:19:21,640
Speaker 3: can say no if you don't, if you aren't comfortable

353
00:19:21,640 --> 00:19:24,240
Speaker 3: saying no yet, which you'll grow out of that and

354
00:19:24,280 --> 00:19:26,920
Speaker 3: you'll you'll learn how to how to say no through time.

355
00:19:27,680 --> 00:19:32,959
Speaker 3: But people that you love, you're naturally gonna want to

356
00:19:33,000 --> 00:19:35,399
Speaker 3: see them do great things. You just don't want to

357
00:19:36,160 --> 00:19:41,800
Speaker 3: jeopardize yourself or your financial freedom or the relationship for

358
00:19:43,119 --> 00:19:48,080
Speaker 3: that possible gain until someone has notified you were showed

359
00:19:48,200 --> 00:19:51,040
Speaker 3: or proven that okay, they're ready to.

360
00:19:52,240 --> 00:19:54,399
Speaker 2: Add value that.

361
00:19:55,440 --> 00:19:58,399
Speaker 1: I love this question because I'll ask almost all my

362
00:19:58,520 --> 00:20:01,120
Speaker 1: guests now this question, like what is in what's in

363
00:20:01,160 --> 00:20:03,880
Speaker 1: your EBC? Your everyday carry? And we'll start with you

364
00:20:03,840 --> 00:20:05,840
Speaker 1: to tell him, like what are the things that you

365
00:20:05,960 --> 00:20:07,840
Speaker 1: got to have with you, you know, before you leave

366
00:20:07,880 --> 00:20:10,399
Speaker 1: the house, before you lead the department. This is always

367
00:20:10,440 --> 00:20:12,040
Speaker 1: with you and you can't just say your phone.

368
00:20:15,640 --> 00:20:18,120
Speaker 2: A lot of times. It's my dog. I'm a big

369
00:20:18,160 --> 00:20:18,680
Speaker 2: dog lover.

370
00:20:19,240 --> 00:20:20,240
Speaker 5: His name is Achilles.

371
00:20:20,240 --> 00:20:22,800
Speaker 2: He's with me right now. He's a service dog. He

372
00:20:22,920 --> 00:20:24,679
Speaker 2: travels everywhere I go with me.

373
00:20:26,240 --> 00:20:29,679
Speaker 3: A lot of it is He's a pit mixed with

374
00:20:29,760 --> 00:20:32,000
Speaker 3: a Border Collie and German Shepherd oh.

375
00:20:32,040 --> 00:20:33,240
Speaker 2: Okay, rescue dog.

376
00:20:33,280 --> 00:20:35,159
Speaker 3: I got him when he was two months old and

377
00:20:35,200 --> 00:20:36,880
Speaker 3: he's eight years old now.

378
00:20:37,560 --> 00:20:38,280
Speaker 2: Mike knows him.

379
00:20:38,280 --> 00:20:41,360
Speaker 3: He's he's the best dog in the world.

380
00:20:42,320 --> 00:20:43,480
Speaker 1: What else you carry with you.

381
00:20:46,720 --> 00:20:51,600
Speaker 3: Outside outside of that whatever book that I'm reading, A

382
00:20:51,720 --> 00:20:55,200
Speaker 3: nice pen. I value a pen that I'm My handwriting

383
00:20:55,320 --> 00:20:59,880
Speaker 3: is terrible. I write super small, so I value pen

384
00:21:00,160 --> 00:21:05,000
Speaker 3: that and that helped me be legible or whatever. But

385
00:21:05,720 --> 00:21:08,159
Speaker 3: outside of that, you know, I keep my locks.

386
00:21:08,280 --> 00:21:11,800
Speaker 2: Uh, you know, and we're good to go.

387
00:21:12,600 --> 00:21:14,600
Speaker 1: I love I love Michael. What's your in your e

388
00:21:14,680 --> 00:21:16,119
Speaker 1: d C? Your every day carry?

389
00:21:17,480 --> 00:21:23,280
Speaker 5: My everyday Carrie would be a book whatever, whatever book

390
00:21:23,320 --> 00:21:29,400
Speaker 5: I'm I'm I'm moving with my iPad so I can

391
00:21:29,440 --> 00:21:31,960
Speaker 5: do work wherever I'm at or whatever i'm doing. You know,

392
00:21:32,119 --> 00:21:35,760
Speaker 5: mobile cigars.

393
00:21:36,280 --> 00:21:42,800
Speaker 1: Yeah, yeah, yeah, right here actually right.

394
00:21:42,560 --> 00:21:45,679
Speaker 5: Right right right exactly, So I'm have some cigars. I'mna

395
00:21:45,680 --> 00:21:49,360
Speaker 5: have my iPad, I have a book. That's that's primarily here.

396
00:21:49,840 --> 00:21:54,440
Speaker 1: What's your cigar choice? I'm just I'm curious, uh me, I'm.

397
00:21:54,240 --> 00:22:00,399
Speaker 5: A I'm a I'm kind of a medium. I'm a medium, guys.

398
00:22:00,400 --> 00:22:06,600
Speaker 5: So I like I like Adabay's. I like Adabays. I

399
00:22:06,760 --> 00:22:10,720
Speaker 5: like this new I'm smoking this new Bandelero, which is

400
00:22:11,400 --> 00:22:15,160
Speaker 5: is uh it's it's just the same makers Ada Bay

401
00:22:17,280 --> 00:22:20,960
Speaker 5: and I'll smoked dab it off sometimes late late hour,

402
00:22:21,119 --> 00:22:22,160
Speaker 5: late hour, dab it off.

403
00:22:23,440 --> 00:22:23,960
Speaker 1: You you two?

404
00:22:24,040 --> 00:22:26,960
Speaker 5: Jaalen, Yeah, I'm so.

405
00:22:27,080 --> 00:22:31,040
Speaker 3: My favorite cigar is the same palette as Mike. My

406
00:22:31,119 --> 00:22:36,000
Speaker 3: favorite cigar is Alvo Syncro Box Press. It's a Nicol

407
00:22:36,040 --> 00:22:39,080
Speaker 3: wager and smoker, Tata Scan.

408
00:22:39,840 --> 00:22:40,440
Speaker 2: I like the Bend.

409
00:22:40,760 --> 00:22:44,080
Speaker 3: I like the Bendeleiro to Toledo Torpedo at nighttime.

410
00:22:45,840 --> 00:22:48,240
Speaker 2: But yeah, that's that's that's kind of my my flavorite.

411
00:22:48,240 --> 00:22:49,479
Speaker 2: What's how you do it?

412
00:22:49,480 --> 00:22:53,200
Speaker 1: Well, oh man, So my favorite cigar period is the

413
00:22:53,359 --> 00:22:56,440
Speaker 1: Amazon Basin, but you can only get it once every

414
00:22:56,480 --> 00:22:58,399
Speaker 1: three because they make them in the Amazon so that

415
00:22:58,480 --> 00:23:00,680
Speaker 1: you only get them every three years. But like a

416
00:23:00,760 --> 00:23:04,439
Speaker 1: daily smoke is like olav of v Orva Milania box press,

417
00:23:05,520 --> 00:23:07,480
Speaker 1: that's like a regular, like any day of the week,

418
00:23:07,520 --> 00:23:10,000
Speaker 1: you can do that Ashton Cabinet if I feel in,

419
00:23:10,040 --> 00:23:11,520
Speaker 1: you know, fancy something like that.

420
00:23:11,560 --> 00:23:15,359
Speaker 5: So, yeah, are you boys like the box press?

421
00:23:15,640 --> 00:23:17,520
Speaker 1: I like, I'm a.

422
00:23:20,080 --> 00:23:24,760
Speaker 2: Are you one of them guys? Will? That's like there's

423
00:23:24,800 --> 00:23:27,160
Speaker 2: this thing going around that, like the V cuts aren't

424
00:23:27,160 --> 00:23:29,160
Speaker 2: in anymore. But I love cut.

425
00:23:29,280 --> 00:23:31,160
Speaker 1: I'm a straight I like straight cuts, so I'm cutting

426
00:23:31,160 --> 00:23:32,960
Speaker 1: a little dime off the end. I'm a straight cut.

427
00:23:35,200 --> 00:23:37,199
Speaker 1: All the guys around me are doing punch up, so

428
00:23:37,240 --> 00:23:39,159
Speaker 1: I'm like, y'all don't know what you're doing. I'm not

429
00:23:39,200 --> 00:23:39,680
Speaker 1: with the punch.

430
00:23:40,520 --> 00:23:42,360
Speaker 5: Yeah. I used to be on the B cut too,

431
00:23:42,480 --> 00:23:44,320
Speaker 5: and now the dudes kind of looked at me like

432
00:23:44,440 --> 00:23:46,080
Speaker 5: I was crazy when I was doing.

433
00:23:47,080 --> 00:23:50,840
Speaker 1: Yeah, I'm not. I tried to be. It's not my thing.

434
00:23:51,920 --> 00:23:55,240
Speaker 1: Just give me a straight I'm a regular straight cut.

435
00:23:56,240 --> 00:23:58,560
Speaker 1: But what you both mentioned books? What are you reading right?

436
00:23:58,600 --> 00:23:59,159
Speaker 1: Now it's.

437
00:24:02,400 --> 00:24:10,000
Speaker 3: I'm reading. It's called how to Speak. It's my lady

438
00:24:10,040 --> 00:24:13,160
Speaker 3: actually actually got it, actually got it to me. It's

439
00:24:13,359 --> 00:24:17,760
Speaker 3: how husbands speak. I'm not married currently. We're doing some

440
00:24:17,760 --> 00:24:23,600
Speaker 3: some personal growth within our relationship of how to communicate

441
00:24:23,640 --> 00:24:24,119
Speaker 3: with each other.

442
00:24:24,240 --> 00:24:25,480
Speaker 2: We have a newborn.

443
00:24:27,760 --> 00:24:33,760
Speaker 3: But I just finished a book called The Infinite Way, uh,

444
00:24:34,119 --> 00:24:35,600
Speaker 3: spiritual book by.

445
00:24:37,560 --> 00:24:42,040
Speaker 2: M Something Goldsmith. I forget Michael, Michael.

446
00:24:42,280 --> 00:24:43,040
Speaker 1: I've seen that cover.

447
00:24:43,160 --> 00:24:45,960
Speaker 2: Wonderful. Yeah, wonderful book. Though, wonderful book.

448
00:24:47,440 --> 00:24:48,359
Speaker 1: What are you reading, Michael.

449
00:24:49,520 --> 00:24:52,920
Speaker 5: I'm currently reading, Uh, you Deserve to Be Rich.

450
00:24:54,200 --> 00:24:56,359
Speaker 1: I'm audible, I got the audible on that, yeah, yeah,

451
00:24:56,520 --> 00:24:57,360
Speaker 1: on your Leisure.

452
00:24:58,240 --> 00:24:58,880
Speaker 4: And then.

453
00:25:00,640 --> 00:25:06,399
Speaker 5: I'm also reading this book I think it's called, uh,

454
00:25:07,400 --> 00:25:11,800
Speaker 5: it's like repeat, what is it called. It's uh, it's

455
00:25:11,800 --> 00:25:20,200
Speaker 5: called repeat, scale, repeat, scale, exit or something like that.

456
00:25:20,320 --> 00:25:23,240
Speaker 5: It's like a forgot, I don't know, break the breakdown.

457
00:25:23,240 --> 00:25:25,239
Speaker 5: But I'm reading that book too. I really enjoyed. It's

458
00:25:25,240 --> 00:25:27,440
Speaker 5: about how to how to build businesses.

459
00:25:28,240 --> 00:25:30,560
Speaker 1: Start, scale, repeat, Yeah.

460
00:25:30,720 --> 00:25:36,600
Speaker 5: Start, That's what I'm reading right now. Start scale actually repeat,

461
00:25:36,640 --> 00:25:39,239
Speaker 5: And I'm reading and Earn your Leisure book. And then

462
00:25:39,280 --> 00:25:48,159
Speaker 5: I'm also reading, uh, doctor Boyce his his book on

463
00:25:48,240 --> 00:25:51,240
Speaker 5: Black Wealth. I'm reading that too.

464
00:25:51,920 --> 00:25:52,320
Speaker 3: I love it.

465
00:25:52,400 --> 00:25:55,080
Speaker 1: I love it, Jail. What kind of businesses do you

466
00:25:55,240 --> 00:25:57,680
Speaker 1: like to invest in? You know, historically we all heard

467
00:25:57,800 --> 00:26:00,760
Speaker 1: like the cliche of you know, the car, wi the restaurant,

468
00:26:00,880 --> 00:26:04,240
Speaker 1: et cetera. Like what draws your interest?

469
00:26:08,320 --> 00:26:10,240
Speaker 2: I like to invest in things that.

470
00:26:13,320 --> 00:26:15,000
Speaker 3: I like to I like to invest in things that

471
00:26:15,080 --> 00:26:18,120
Speaker 3: not only I can add value in, but I have

472
00:26:18,560 --> 00:26:25,440
Speaker 3: a natural interest. I care more about the jockey versus

473
00:26:25,600 --> 00:26:28,920
Speaker 3: the horse. I care about who I'm partnering with. There's

474
00:26:28,960 --> 00:26:31,200
Speaker 3: a fifty to fifty chance when you're investing in your

475
00:26:31,440 --> 00:26:33,840
Speaker 3: you're doing, and you're getting the business with somebody with somebody,

476
00:26:33,840 --> 00:26:35,720
Speaker 3: it's a fifty to fifty chance on whether it's gonna

477
00:26:35,720 --> 00:26:39,840
Speaker 3: work or not. But as you're doing the vetting process,

478
00:26:40,080 --> 00:26:44,720
Speaker 3: being able to identify a partner or someone that has

479
00:26:46,440 --> 00:26:51,480
Speaker 3: are core values aligned that that matters the most to me.

480
00:26:52,720 --> 00:26:57,199
Speaker 3: I've wanted to be a restaurant tour since I was

481
00:26:57,240 --> 00:27:00,240
Speaker 3: about eighteen years old and learning a lot of about

482
00:27:00,320 --> 00:27:03,720
Speaker 3: junior Bridgemen and my first job prior to going to

483
00:27:03,800 --> 00:27:06,920
Speaker 3: Notre Dame was at Burger King, so I got to

484
00:27:07,000 --> 00:27:11,720
Speaker 3: learn a little bit about the customer service space been

485
00:27:11,760 --> 00:27:18,160
Speaker 3: able to partner with some great individuals on my endeavors

486
00:27:18,160 --> 00:27:24,480
Speaker 3: of becoming a restaurant tour Maulti family. Real estate is

487
00:27:24,480 --> 00:27:26,840
Speaker 3: is always great when you're in the right space and

488
00:27:26,920 --> 00:27:30,479
Speaker 3: with the right people. So I invest a lot in

489
00:27:30,480 --> 00:27:34,800
Speaker 3: that area, but actually started my own life insurance agency

490
00:27:35,680 --> 00:27:40,720
Speaker 3: called the Cycle Management Group, partner with Globe Life. Global

491
00:27:40,720 --> 00:27:43,360
Speaker 3: Life is the number one life insurance agency and all

492
00:27:43,400 --> 00:27:48,760
Speaker 3: of North America, and they're headquartered out of Waco, Texas

493
00:27:48,760 --> 00:27:53,800
Speaker 3: and McKinney, Texas, which is one of their headquarter locations,

494
00:27:53,880 --> 00:27:58,000
Speaker 3: is twenty minutes from my home in Frisco, Texas. So

495
00:27:58,920 --> 00:28:02,320
Speaker 3: got a chance to build a relationship with the CEO

496
00:28:02,520 --> 00:28:07,280
Speaker 3: and president and learn exactly how they built their wealth

497
00:28:07,280 --> 00:28:12,000
Speaker 3: through life insurance. And then just thinking about the the

498
00:28:12,200 --> 00:28:16,320
Speaker 3: impact you know that I can make as far as

499
00:28:16,680 --> 00:28:17,920
Speaker 3: stepping into this endeavor.

500
00:28:18,280 --> 00:28:23,000
Speaker 2: I like fixing problems. I like Mike, my business manager.

501
00:28:23,040 --> 00:28:26,199
Speaker 3: He talks about it a lot as we're doing a

502
00:28:26,200 --> 00:28:31,360
Speaker 3: lot of developing and growthing. And you know, it's only

503
00:28:31,400 --> 00:28:35,440
Speaker 3: twenty four hours in a day, right and currently I'm

504
00:28:35,440 --> 00:28:41,160
Speaker 3: in twenty one different alternative deals. But where do where

505
00:28:41,160 --> 00:28:44,959
Speaker 3: could I How can I allocate these twenty four hours

506
00:28:44,960 --> 00:28:51,000
Speaker 3: in a day to best maximize my core focuses. So

507
00:28:51,760 --> 00:28:55,479
Speaker 3: we focus a lot on, you know, making sure that

508
00:28:55,520 --> 00:28:58,040
Speaker 3: it makes sense, making sure that I can add value.

509
00:28:59,440 --> 00:29:02,200
Speaker 3: And then also so from a return profile standpoint, what

510
00:29:02,200 --> 00:29:03,680
Speaker 3: does that look like from a cash flow?

511
00:29:03,720 --> 00:29:07,680
Speaker 2: What does that look like from exit? Long?

512
00:29:08,280 --> 00:29:10,040
Speaker 1: Yeah, yeah, that was really it was really good. I

513
00:29:10,080 --> 00:29:12,320
Speaker 1: got two more questions. I'll give them to both of

514
00:29:12,320 --> 00:29:15,880
Speaker 1: you guys, And so one is, you know, when people

515
00:29:15,920 --> 00:29:18,760
Speaker 1: start making a little bit of money, they they do

516
00:29:18,800 --> 00:29:20,640
Speaker 1: want to enjoy some of that. They don't want it

517
00:29:20,640 --> 00:29:24,640
Speaker 1: all to be you know, tied up into some you know, yeah, yeah,

518
00:29:24,680 --> 00:29:26,040
Speaker 1: you know what I mean. They want to enjoy some

519
00:29:26,080 --> 00:29:29,600
Speaker 1: of it. How do you, as an athlete today, as

520
00:29:29,600 --> 00:29:33,720
Speaker 1: a president athlete, advise how to do that smartly? So

521
00:29:33,760 --> 00:29:35,040
Speaker 1: if I want to go by the chain, you know,

522
00:29:35,080 --> 00:29:36,880
Speaker 1: you got the Ojo sinkos, like I'll buy a Kuba

523
00:29:37,000 --> 00:29:38,720
Speaker 1: Zaconia all day. You know you got that.

524
00:29:38,840 --> 00:29:39,760
Speaker 2: But then you got people who.

525
00:29:39,680 --> 00:29:42,080
Speaker 1: Want the real thing, how do you advise them to

526
00:29:42,120 --> 00:29:44,040
Speaker 1: do that? And so we'll start with you, Jalen. Then

527
00:29:44,040 --> 00:29:45,880
Speaker 1: I'm gonna get us to youth Michael too. How How

528
00:29:45,920 --> 00:29:49,920
Speaker 1: can I still enjoy some of it? Responsible?

529
00:29:50,000 --> 00:29:55,600
Speaker 3: It all comes It all comes down to understanding the

530
00:29:55,760 --> 00:29:59,000
Speaker 3: value over cost. You know, what's the value that I'm

531
00:29:59,040 --> 00:30:03,600
Speaker 3: getting out of it versus the cost. And then you

532
00:30:03,720 --> 00:30:07,640
Speaker 3: have to budget for your fund. You have to budget

533
00:30:07,640 --> 00:30:10,479
Speaker 3: for your fun. So if I'm budgeting for this, for

534
00:30:10,520 --> 00:30:12,440
Speaker 3: this chain that I want to purchase, I may not

535
00:30:12,520 --> 00:30:15,600
Speaker 3: be able to go buy this or go party, or

536
00:30:15,640 --> 00:30:18,040
Speaker 3: go buy this this house that I may want or this,

537
00:30:18,280 --> 00:30:20,360
Speaker 3: you know what I mean. It's about it's about give

538
00:30:20,440 --> 00:30:25,000
Speaker 3: and take. It's about push or pull. Each year, you know,

539
00:30:25,160 --> 00:30:31,000
Speaker 3: I have an allocated amount for everything, and by the month,

540
00:30:31,840 --> 00:30:35,760
Speaker 3: you know, I get reports on how what was budgeted

541
00:30:35,800 --> 00:30:37,640
Speaker 3: and then what was expended.

542
00:30:37,760 --> 00:30:40,560
Speaker 2: Yeah, what was the actual? It's called budget versus actual.

543
00:30:40,800 --> 00:30:43,720
Speaker 3: So I'm I'm whenever we and we've all go through

544
00:30:43,760 --> 00:30:46,240
Speaker 3: these moments where Okay, if you're spending a lot of money,

545
00:30:46,240 --> 00:30:48,640
Speaker 3: you can feel it, you can, but you may not

546
00:30:48,680 --> 00:30:51,240
Speaker 3: want to go look at your account, you know. But

547
00:30:51,320 --> 00:30:54,400
Speaker 3: I have I have a team that helps hold me

548
00:30:54,440 --> 00:30:56,160
Speaker 3: accountable and see you know.

549
00:30:56,520 --> 00:30:56,640
Speaker 5: Uh.

550
00:30:56,800 --> 00:30:57,680
Speaker 2: But that's that's what.

551
00:30:57,600 --> 00:30:59,719
Speaker 3: I would say for for all the all the youngins

552
00:30:59,760 --> 00:31:03,240
Speaker 3: coming up, is you just have to budget what your

553
00:31:03,360 --> 00:31:04,200
Speaker 3: fun looks like.

554
00:31:06,520 --> 00:31:08,560
Speaker 2: You can't take it with you. We understand that. But

555
00:31:08,640 --> 00:31:13,520
Speaker 2: also a lot of us are the first in our family.

556
00:31:13,240 --> 00:31:20,360
Speaker 3: To accumulate an extreme amount of cash. So if you

557
00:31:20,440 --> 00:31:25,760
Speaker 3: really care about your legacy, which I care about passing,

558
00:31:26,000 --> 00:31:30,840
Speaker 3: passing down Jender, creating and passing down generational wealth, I

559
00:31:30,880 --> 00:31:33,600
Speaker 3: am the individual in my family that has to do

560
00:31:33,680 --> 00:31:38,480
Speaker 3: that or that has chose to do that. So with

561
00:31:38,640 --> 00:31:41,040
Speaker 3: that comes from sacrificers. I can't go out and buy

562
00:31:41,080 --> 00:31:45,600
Speaker 3: everything I want, you know, Yeah, yeah, that's my answer

563
00:31:45,640 --> 00:31:45,920
Speaker 3: to that.

564
00:31:46,040 --> 00:31:49,400
Speaker 1: Yeah, And I'm gonna get another spin for you, same question, Michael.

565
00:31:49,440 --> 00:31:52,920
Speaker 1: But a spind is you know, if I'm making I'm

566
00:31:52,920 --> 00:31:54,920
Speaker 1: making a little bit of money now and now I'm

567
00:31:54,960 --> 00:31:56,640
Speaker 1: on the same team with Jalen. You know, I ain't

568
00:31:56,680 --> 00:31:59,240
Speaker 1: making as much as Jalen. But you know, so when

569
00:31:59,240 --> 00:32:01,800
Speaker 1: we walk to dinner, I can't compete with him. He

570
00:32:01,840 --> 00:32:03,800
Speaker 1: won't he getting a six hundred dollars of tomahawk. You know,

571
00:32:03,840 --> 00:32:06,320
Speaker 1: I'm getting to the four hundred hours, you know, the

572
00:32:06,320 --> 00:32:09,840
Speaker 1: over soul, and I can't compete. But the every guy

573
00:32:09,880 --> 00:32:14,360
Speaker 1: I'm around or mostly is doing way better. How can

574
00:32:14,400 --> 00:32:18,920
Speaker 1: I still maintain that sense of confidence or my position

575
00:32:19,040 --> 00:32:22,240
Speaker 1: when I'm I'm around Jalen every day, and Jalen's doing

576
00:32:22,280 --> 00:32:23,280
Speaker 1: it at a different level.

577
00:32:25,400 --> 00:32:29,680
Speaker 5: Yeah, I think a lot of it comes down to

578
00:32:32,120 --> 00:32:36,480
Speaker 5: identity and being able to manage your ego. You know,

579
00:32:36,800 --> 00:32:40,280
Speaker 5: really like it's easier setting down it's not anything to

580
00:32:40,280 --> 00:32:41,600
Speaker 5: do at all. But when you are around a whole

581
00:32:41,640 --> 00:32:45,320
Speaker 5: bunch of brothers, you know, driving a certain amount of cars,

582
00:32:45,320 --> 00:32:48,200
Speaker 5: they got certain chains, they got a great deal of cloud,

583
00:32:48,240 --> 00:32:50,200
Speaker 5: and you sitting there right next to him work. I mean,

584
00:32:50,480 --> 00:32:53,960
Speaker 5: I haven't experienced it. I've seen it up quotes and personal,

585
00:32:54,000 --> 00:32:56,480
Speaker 5: but I ain't did it myself. So I speak humbly

586
00:32:56,560 --> 00:33:00,240
Speaker 5: when I say it. But I think if you can

587
00:33:00,280 --> 00:33:04,760
Speaker 5: manage your ego, and if you can, I think it's

588
00:33:04,760 --> 00:33:09,120
Speaker 5: a lot easier for brothers. When when you value your

589
00:33:09,200 --> 00:33:13,080
Speaker 5: last name more than you do your first name, you know,

590
00:33:13,400 --> 00:33:16,280
Speaker 5: when you value your last name more than your first name,

591
00:33:16,440 --> 00:33:20,520
Speaker 5: you'll think differently. Right, So when you when you think

592
00:33:20,560 --> 00:33:24,280
Speaker 5: about honoring the last name Smith, and you think about

593
00:33:24,840 --> 00:33:28,360
Speaker 5: honoring for your people that was before you, When you

594
00:33:28,400 --> 00:33:32,280
Speaker 5: think about building that name up for your daughter more

595
00:33:32,320 --> 00:33:35,080
Speaker 5: than you do think about the name Jalen, I think

596
00:33:35,120 --> 00:33:37,840
Speaker 5: that you'll make some different decisions. But when you're constantly

597
00:33:37,880 --> 00:33:40,840
Speaker 5: thinking about the first name. I think you make first

598
00:33:40,880 --> 00:33:43,040
Speaker 5: name decisions.

599
00:33:42,840 --> 00:33:45,200
Speaker 1: Either you want to ask that Jalen like that twist,

600
00:33:45,240 --> 00:33:48,240
Speaker 1: you know, because that's you know, you're in the locker room.

601
00:33:48,240 --> 00:33:50,240
Speaker 1: There's somebody ain't making as much as you, somebody making

602
00:33:50,280 --> 00:33:52,280
Speaker 1: more to you, Like you got to balance that. How

603
00:33:52,360 --> 00:33:53,640
Speaker 1: How do you have you seen that play out?

604
00:33:54,560 --> 00:33:56,320
Speaker 2: I was once that guy as well.

605
00:33:58,520 --> 00:34:03,440
Speaker 3: The managing the ego matters a lot of Most of

606
00:34:03,440 --> 00:34:06,680
Speaker 3: the time, when you go out with the ogs or

607
00:34:06,680 --> 00:34:09,759
Speaker 3: the big homies, nine times out of ten, they're going

608
00:34:09,800 --> 00:34:10,520
Speaker 3: to pay for the meal.

609
00:34:10,920 --> 00:34:14,360
Speaker 2: Let them pay for the meal. It's okay, it's love.

610
00:34:14,680 --> 00:34:15,840
Speaker 2: Like it's love, you know.

611
00:34:18,040 --> 00:34:23,719
Speaker 3: You know me me being a rookie and some of

612
00:34:23,760 --> 00:34:27,520
Speaker 3: my OG's would take me shopping, you know, to where

613
00:34:27,560 --> 00:34:30,040
Speaker 3: I didn't have to I didn't have to cut into

614
00:34:30,080 --> 00:34:34,360
Speaker 3: my my rookie salary that I was getting paid because

615
00:34:34,400 --> 00:34:36,160
Speaker 3: the Ogs was taking care of me. It's a it's

616
00:34:36,160 --> 00:34:38,560
Speaker 3: a It's definitely a lot of pay it forward that

617
00:34:38,640 --> 00:34:41,719
Speaker 3: goes on in the league and in the community. You

618
00:34:41,800 --> 00:34:43,440
Speaker 3: just got to know where you fit in and then

619
00:34:43,480 --> 00:34:45,279
Speaker 3: also understand, you know, it's going to come a time

620
00:34:45,280 --> 00:34:50,719
Speaker 3: where you're the OG and you have the the the obligation,

621
00:34:51,000 --> 00:34:54,799
Speaker 3: the opportunity to pay it forward and then and by

622
00:34:54,840 --> 00:34:57,960
Speaker 3: that time, you know you used to have your budgets down.

623
00:34:57,760 --> 00:35:00,399
Speaker 2: And in place to where it doesn't affect much.

624
00:35:00,880 --> 00:35:03,640
Speaker 1: I love it. Lastly, I want you both to leave

625
00:35:03,719 --> 00:35:05,840
Speaker 1: the audience with something. We'll start with you, Michael, like,

626
00:35:06,239 --> 00:35:09,560
Speaker 1: what do you want after having heard this conversation? If

627
00:35:09,600 --> 00:35:11,960
Speaker 1: they can only leave with one thing that you have,

628
00:35:12,200 --> 00:35:15,239
Speaker 1: you know imparted to this audience. This audience is full

629
00:35:15,280 --> 00:35:20,120
Speaker 1: of black entrepreneur, small business owners, technologies, founders, venture capitalists,

630
00:35:20,080 --> 00:35:23,439
Speaker 1: agent investors who are trying to build wealth. What would

631
00:35:23,440 --> 00:35:23,920
Speaker 1: you leave them with?

632
00:35:25,320 --> 00:35:34,960
Speaker 5: Oh Man, I would say, understand your DNA. Understand your

633
00:35:35,040 --> 00:35:38,720
Speaker 5: DNA as an individual right, so know what to desire

634
00:35:38,719 --> 00:35:40,799
Speaker 5: and your passion is, know what the need and the

635
00:35:40,840 --> 00:35:45,000
Speaker 5: marketplace is, and know what your ability is. Right, identify

636
00:35:45,160 --> 00:35:49,719
Speaker 5: your personal DNA. Once you know that DNA, I think

637
00:35:49,800 --> 00:35:51,600
Speaker 5: you go after what it is that you want to

638
00:35:51,640 --> 00:35:55,080
Speaker 5: and go after mastering something. Don't do things and learn things,

639
00:35:55,120 --> 00:35:58,440
Speaker 5: do things to master things. And I would say, then,

640
00:35:59,080 --> 00:36:02,400
Speaker 5: don't look at your current ecosystem is a limiture to

641
00:36:02,480 --> 00:36:05,840
Speaker 5: what you want to do. Build the ecosystem that you

642
00:36:05,960 --> 00:36:08,799
Speaker 5: need to support what you want to do. I thinks

643
00:36:08,840 --> 00:36:10,880
Speaker 5: so many times we look at the ecosystem that we

644
00:36:10,880 --> 00:36:15,200
Speaker 5: were born into, raised around, and it's like, now, I

645
00:36:15,200 --> 00:36:17,239
Speaker 5: don't let that limit the vision that God has given

646
00:36:17,239 --> 00:36:19,600
Speaker 5: you for you. If you have the ability, just build

647
00:36:19,640 --> 00:36:22,719
Speaker 5: the ecosystem that you need to support you and have

648
00:36:22,800 --> 00:36:25,400
Speaker 5: the resources to support that, then and go get it.

649
00:36:27,120 --> 00:36:35,040
Speaker 3: JAIU, I would say, sorry, it's all good.

650
00:36:35,360 --> 00:36:36,560
Speaker 2: The biggest thing that.

651
00:36:36,560 --> 00:36:48,600
Speaker 3: I would say for the viewers is community matters. Network matters.

652
00:36:48,920 --> 00:36:57,279
Speaker 3: Me becoming a professional athlete. I understood the value of access,

653
00:36:57,520 --> 00:37:02,359
Speaker 3: the value of network, the value of platform. I made

654
00:37:02,360 --> 00:37:07,400
Speaker 3: a decision. How old was I MI seventeen years old

655
00:37:08,440 --> 00:37:10,879
Speaker 3: when I made the decision that, Okay, I am going

656
00:37:10,920 --> 00:37:16,600
Speaker 3: to maximize this platform, in this network and building relationships

657
00:37:17,960 --> 00:37:20,480
Speaker 3: being the humans that we are. And then from there

658
00:37:22,400 --> 00:37:25,880
Speaker 3: it's okay to think like you have to think about

659
00:37:26,160 --> 00:37:30,919
Speaker 3: exactly what you want, where and how to get there.

660
00:37:31,480 --> 00:37:34,279
Speaker 3: If you don't know how to get there, find some

661
00:37:34,800 --> 00:37:37,400
Speaker 3: get somebody in your circle and in your network that

662
00:37:37,480 --> 00:37:38,399
Speaker 3: can help you.

663
00:37:38,360 --> 00:37:39,880
Speaker 2: Accomplish what you want to accomplish.

664
00:37:39,960 --> 00:37:43,400
Speaker 3: You never want to be the smartest person in your room.

665
00:37:44,000 --> 00:37:47,480
Speaker 3: I get uncomfortable a lot of times when I'm if

666
00:37:47,520 --> 00:37:51,919
Speaker 3: I'm consistently in a room where I'm the smartest guy,

667
00:37:54,840 --> 00:37:58,719
Speaker 3: I'm comfortable with getting uncomfortable and I know that I

668
00:37:58,719 --> 00:38:01,839
Speaker 3: don't know it all. And my my humbleness and my

669
00:38:01,960 --> 00:38:06,319
Speaker 3: stewardness and the ability to be a sponge and like

670
00:38:06,400 --> 00:38:10,960
Speaker 3: soak everything in is how I've learned so much beyond

671
00:38:11,080 --> 00:38:13,920
Speaker 3: the sport, even in the in the business space and

672
00:38:14,360 --> 00:38:16,520
Speaker 3: being you know, now, there was a time where I

673
00:38:16,560 --> 00:38:22,000
Speaker 3: could not add value to boardrooms or you know, having

674
00:38:22,040 --> 00:38:24,640
Speaker 3: the opportunity to be on a board seat, or be

675
00:38:24,719 --> 00:38:29,560
Speaker 3: a general partner in a real estate firm and all

676
00:38:29,600 --> 00:38:34,000
Speaker 3: of these different endeavors, Like I had to learn from

677
00:38:34,000 --> 00:38:37,799
Speaker 3: the best, and it took me asking questions, it took

678
00:38:37,880 --> 00:38:41,720
Speaker 3: me allocating time, but it's it's so worth it.

679
00:38:41,920 --> 00:38:46,000
Speaker 2: Like this, there's a wide range of.

680
00:38:45,960 --> 00:38:50,360
Speaker 3: Opportunity to be successful in the United States of America,

681
00:38:50,600 --> 00:38:54,520
Speaker 3: especially within the black culture as well. I'm a firm

682
00:38:54,520 --> 00:38:57,360
Speaker 3: believer in together is better, but it has to be

683
00:38:57,440 --> 00:38:59,239
Speaker 3: done the right way, and you have to have the

684
00:38:59,320 --> 00:39:05,960
Speaker 3: right people write seats without Without that, you're putting yourself

685
00:39:05,960 --> 00:39:10,560
Speaker 3: at risk for destruction, you know. So I my purpose

686
00:39:10,640 --> 00:39:13,960
Speaker 3: beyond athletics is to help close the economic and educational

687
00:39:14,000 --> 00:39:15,840
Speaker 3: gap that exists in this world today.

688
00:39:16,440 --> 00:39:19,720
Speaker 2: So everything that I do is rooted.

689
00:39:19,880 --> 00:39:26,200
Speaker 3: Around that, in my for profit companies and my nonprofit

690
00:39:26,239 --> 00:39:31,160
Speaker 3: companies and my company investments that I'm just an LPN

691
00:39:31,480 --> 00:39:34,439
Speaker 3: that I'm a general partner in. Like I not only

692
00:39:34,440 --> 00:39:37,600
Speaker 3: do I understand the ROI, but it's all about, Okay,

693
00:39:37,640 --> 00:39:40,440
Speaker 3: what is your big hairy audation's goal, Like what do

694
00:39:40,480 --> 00:39:43,520
Speaker 3: you want to accomplish? And you gotta go from go

695
00:39:43,640 --> 00:39:46,640
Speaker 3: from ten years and walk it down to a five

696
00:39:46,719 --> 00:39:52,359
Speaker 3: year picture, three year picture, one year picture, ninety day picture. Mike,

697
00:39:52,400 --> 00:39:55,680
Speaker 3: can you talk to them a little bit about uh,

698
00:39:56,840 --> 00:40:02,879
Speaker 3: eos and rocks and how have helped uh not only

699
00:40:02,920 --> 00:40:07,440
Speaker 3: you yourself and your business your businesses and helping mentor

700
00:40:08,760 --> 00:40:11,680
Speaker 3: myself and in the and all the other athletes that

701
00:40:11,760 --> 00:40:16,279
Speaker 3: you help manage. Talk about the value of that. I

702
00:40:16,320 --> 00:40:18,080
Speaker 3: think I think that could add some value.

703
00:40:18,520 --> 00:40:21,920
Speaker 5: Please, yeah, I think that. I think a lot of times,

704
00:40:22,080 --> 00:40:26,000
Speaker 5: you know, for us is you know, black entrepreneurs. Man,

705
00:40:26,040 --> 00:40:28,640
Speaker 5: we're the most creative, most dynamic people on earth, but

706
00:40:28,760 --> 00:40:30,520
Speaker 5: a lot of the time we don't we don't have

707
00:40:30,560 --> 00:40:33,920
Speaker 5: the training or the systems. And one of the companies

708
00:40:33,960 --> 00:40:36,960
Speaker 5: that Jalen invested in early on in his career was

709
00:40:37,000 --> 00:40:40,760
Speaker 5: a company called EOS Worldwide based out of Detroit, Michigan.

710
00:40:40,840 --> 00:40:45,440
Speaker 5: That is the largest entrepreneurial operating system in the United

711
00:40:45,440 --> 00:40:50,160
Speaker 5: States right now. I think uh to upper mid sized

712
00:40:50,200 --> 00:40:54,360
Speaker 5: companies and as we we operate all of our companies

713
00:40:54,400 --> 00:40:58,040
Speaker 5: on that. So I operate my company on EOS that

714
00:40:58,080 --> 00:41:01,480
Speaker 5: he's invested in its international now and then we we

715
00:41:01,520 --> 00:41:03,839
Speaker 5: operate all of our clients companies on it. Because it's

716
00:41:03,840 --> 00:41:07,880
Speaker 5: a simple, simplistic system and it just it allows for

717
00:41:08,000 --> 00:41:13,080
Speaker 5: compassion and accountability if it clearly understands who's responsible for what.

718
00:41:13,680 --> 00:41:18,400
Speaker 5: It allows you to strategize, clarify and execute. And I

719
00:41:18,440 --> 00:41:20,719
Speaker 5: think that's really what it comes down to. Like it's

720
00:41:20,719 --> 00:41:22,759
Speaker 5: good to have a good vision, and it's good to

721
00:41:22,840 --> 00:41:26,480
Speaker 5: have talent, but what's the strategy. Is there clarity amongst

722
00:41:26,520 --> 00:41:29,080
Speaker 5: the organization so that we can make sure that we

723
00:41:29,080 --> 00:41:31,319
Speaker 5: can execute and like you said earlier, are the right

724
00:41:31,400 --> 00:41:34,320
Speaker 5: people on the right seats on the bus. So definitely

725
00:41:34,400 --> 00:41:36,759
Speaker 5: something that we operate on. And I think it's a

726
00:41:37,040 --> 00:41:39,759
Speaker 5: It's a great book out called Traction, like you know

727
00:41:39,840 --> 00:41:42,920
Speaker 5: with me that was the founder of the book and

728
00:41:42,960 --> 00:41:45,560
Speaker 5: that that book. Traction is based on the system of

729
00:41:45,600 --> 00:41:46,040
Speaker 5: the US.

730
00:41:47,760 --> 00:41:50,160
Speaker 1: Congratulations on making you know a good deal there.

731
00:41:50,320 --> 00:41:52,800
Speaker 5: Yeah, for sure, that's gonna be a tenction.

732
00:41:53,400 --> 00:42:00,719
Speaker 1: It's gonna be sometimes you only need one. Black Tech

733
00:42:00,719 --> 00:42:03,239
Speaker 1: Green Money is a production of Blavity Afro Tech on

734
00:42:03,320 --> 00:42:06,360
Speaker 1: the Black Effect podcast network in Nighthart Media. It's produced

735
00:42:06,360 --> 00:42:09,600
Speaker 1: by Morgan Debonne and me Well Lucas, with the additional

736
00:42:09,640 --> 00:42:12,880
Speaker 1: production support by Kate McDonald, Sarah Ergan, and Jada McGee.

737
00:42:13,160 --> 00:42:15,839
Speaker 1: Special thank you to Michael Davis and Lovebeach. Learn more

738
00:42:15,840 --> 00:42:18,040
Speaker 1: about my guessing of detectives. Ruff is an innovators at

739
00:42:18,080 --> 00:42:21,600
Speaker 1: afrotech dot Com. Video version of this episode will drop

740
00:42:21,600 --> 00:42:23,799
Speaker 1: to Black Tech Green Money on YouTube, so tap in

741
00:42:24,600 --> 00:42:27,280
Speaker 1: enjoy your Black Tech Green Money. Share up to somebody

742
00:42:28,080 --> 00:42:30,160
Speaker 1: go get your money. Peace in Love,