1 00:00:05,160 --> 00:00:05,970 Speaker 1: Welcome to the show. 2 00:00:06,330 --> 00:00:10,140 Speaker 2: I am Rashawn McDonald, the host of Money Making Conversations Masterclass, 3 00:00:10,500 --> 00:00:13,320 Speaker 2: where we encourage people to stop reading other people's success 4 00:00:13,340 --> 00:00:17,240 Speaker 2: stories and start planning their own. Listen up as I 5 00:00:17,300 --> 00:00:21,030 Speaker 2: interview entrepreneurs from around the country, talk to celebrities and 6 00:00:21,210 --> 00:00:23,930 Speaker 2: ask them how they are running their companies and speak 7 00:00:23,950 --> 00:00:27,390 Speaker 2: with nonprofits who are making a difference in their local communities. 8 00:00:27,820 --> 00:00:30,380 Speaker 2: Now sit back and listen as we unlock the secrets 9 00:00:30,420 --> 00:00:35,740 Speaker 2: to their success on Money Making Conversations Masterclass. My next 10 00:00:35,780 --> 00:00:37,690 Speaker 2: guest is George Frazier. 11 00:00:37,710 --> 00:00:38,320 Speaker 3: I call him Dr. 12 00:00:38,350 --> 00:00:38,870 Speaker 1: George C. 13 00:00:38,909 --> 00:00:39,309 Speaker 4: Frazier. 14 00:00:39,530 --> 00:00:42,870 Speaker 5: He's the chairman and CEO of FrazierNet, a company founded 15 00:00:42,930 --> 00:00:43,850 Speaker 5: over 30 years ago. 16 00:00:44,370 --> 00:00:45,000 Speaker 1: Dr. George C. 17 00:00:45,030 --> 00:00:48,659 Speaker 5: Frazier is a renowned networking guru, business leader, author, and 18 00:00:48,760 --> 00:00:52,080 Speaker 5: entrepreneur who is regarded as one of the foremost respected 19 00:00:52,120 --> 00:00:56,790 Speaker 5: authorities on entrepreneurship and and building generational wealth and economic 20 00:00:56,830 --> 00:00:59,890 Speaker 5: empowerment for the Black community. He will be talking about 21 00:00:59,910 --> 00:01:03,460 Speaker 5: his annual Power Networking Conference, plus give us some great 22 00:01:03,500 --> 00:01:06,400 Speaker 5: value about how we can be successful in our own 23 00:01:06,540 --> 00:01:10,560 Speaker 5: everyday life. Please welcome to Money Making Conversation, Dr. George C. 24 00:01:10,600 --> 00:01:15,230 Speaker 4: Frazier. Oh, God bless you. Good to hear you. I've 25 00:01:15,709 --> 00:01:19,470 Speaker 4: always loved the energy in your voice. Hell, you motivate me, 26 00:01:19,530 --> 00:01:20,690 Speaker 4: and I'm a motivator. 27 00:01:20,770 --> 00:01:22,350 Speaker 1: Well, you know, that always accompanies me. 28 00:01:22,350 --> 00:01:24,610 Speaker 5: Because, you know, it's like, you know, I'm sure when 29 00:01:24,810 --> 00:01:26,560 Speaker 5: Michael Jordan got on the court, and I call you 30 00:01:26,590 --> 00:01:29,840 Speaker 5: Michael Jordan. Now, this ain't Rashad McDonald. I just throw 31 00:01:29,860 --> 00:01:32,619 Speaker 5: myself to be a little bit, I'm not even going 32 00:01:32,640 --> 00:01:34,500 Speaker 5: to say LeBron. I'm not even LeBron. 33 00:01:35,040 --> 00:01:36,339 Speaker 1: But you're Michael Jordan, Dr. 34 00:01:36,420 --> 00:01:37,039 Speaker 4: George Frazier. 35 00:01:37,480 --> 00:01:38,460 Speaker 1: Understand that, man. 36 00:01:38,480 --> 00:01:42,420 Speaker 5: We are respected in this business of entrepreneurship because you 37 00:01:42,520 --> 00:01:46,240 Speaker 5: all know, like now entrepreneurs have almost become a fad, 38 00:01:46,280 --> 00:01:49,040 Speaker 5: just like the word branding has become a fad. But, 39 00:01:49,080 --> 00:01:52,860 Speaker 5: you know, you started this whole networking and relationship before 40 00:01:52,920 --> 00:01:56,580 Speaker 5: it was even vogue. Talk about how it was when 41 00:01:56,600 --> 00:01:59,700 Speaker 5: we started the Frasier Networking and now how it is now, 42 00:01:59,740 --> 00:02:03,280 Speaker 5: especially with social media being so prevalent in the process 43 00:02:03,330 --> 00:02:03,920 Speaker 5: of networking. 44 00:02:04,890 --> 00:02:09,010 Speaker 4: Yeah, that's an excellent point, Rashawn. Social media has helped 45 00:02:09,270 --> 00:02:13,450 Speaker 4: all of us to stay connected, to get connected, and 46 00:02:13,470 --> 00:02:18,440 Speaker 4: to leverage more effectively our collective resources and intellectual capital. 47 00:02:19,240 --> 00:02:22,820 Speaker 4: And so I love it. It has really helped. to 48 00:02:23,000 --> 00:02:26,400 Speaker 4: spread the word about economic development and wealth creation. It's 49 00:02:26,419 --> 00:02:32,780 Speaker 4: helped us, in fact, to understand the rules for financial success. 50 00:02:33,280 --> 00:02:35,760 Speaker 4: I mean, actually, there are three basic rules. There are 51 00:02:35,780 --> 00:02:41,410 Speaker 4: three basic rules that will, if you're looking for financial freedom, 52 00:02:41,470 --> 00:02:45,630 Speaker 4: if you follow these three basic rules, there's no way 53 00:02:45,650 --> 00:02:48,690 Speaker 4: that you can go wrong. Rule number one, your rent 54 00:02:49,070 --> 00:02:51,670 Speaker 4: or mortgage should be less than what you make in 55 00:02:51,710 --> 00:02:54,470 Speaker 4: a week. I cannot tell you how many black people 56 00:02:54,590 --> 00:02:57,459 Speaker 4: are house poor. Your rent or mortgage should be no 57 00:02:57,530 --> 00:02:59,600 Speaker 4: more than you make in a week. So if you 58 00:02:59,620 --> 00:03:03,600 Speaker 4: have a two household income, you combine the income for 59 00:03:03,620 --> 00:03:06,320 Speaker 4: a week and your rent or mortgage should be no 60 00:03:06,380 --> 00:03:10,870 Speaker 4: more than that. That's number one. Number two, only borrow money. 61 00:03:11,700 --> 00:03:14,600 Speaker 4: to make money. So yes, you can borrow money to 62 00:03:14,660 --> 00:03:17,280 Speaker 4: buy a house because if you keep your house, it 63 00:03:17,400 --> 00:03:20,200 Speaker 4: is going to make money. There's nothing wrong with that. 64 00:03:20,720 --> 00:03:24,500 Speaker 4: If you're borrowing money to buy a car, unless you're 65 00:03:24,520 --> 00:03:29,280 Speaker 4: turning that car into a useful and utilitarian tool to 66 00:03:29,900 --> 00:03:32,500 Speaker 4: help you make money, get back and forth to work 67 00:03:32,600 --> 00:03:35,700 Speaker 4: or do whatever you need to do, That's a good thing, 68 00:03:35,720 --> 00:03:39,210 Speaker 4: but it's a depreciating asset, Rashawn, because the moment you 69 00:03:39,230 --> 00:03:41,890 Speaker 4: buy that car, if you turn that car around and 70 00:03:41,910 --> 00:03:43,730 Speaker 4: try to take it back to the dealer to get 71 00:03:43,750 --> 00:03:45,710 Speaker 4: what you paid for, you would not get it. 72 00:03:45,870 --> 00:03:47,430 Speaker 1: It'd be a fight on the showroom floor. 73 00:03:47,460 --> 00:03:53,600 Speaker 4: Okay. That's right. Same thing with diamonds, Rashawn. You can 74 00:03:53,640 --> 00:03:56,500 Speaker 4: buy you a beautiful diamond bracelet if you turned around 75 00:03:56,540 --> 00:03:59,400 Speaker 4: and try to sell it back to the jeweler. But 76 00:03:59,420 --> 00:04:01,580 Speaker 4: what you just paid for it, you will not get it. 77 00:04:01,810 --> 00:04:06,230 Speaker 4: So borrow money to make more money and figure out 78 00:04:06,610 --> 00:04:09,410 Speaker 4: whatever you're borrowing money for. How are you going to 79 00:04:09,510 --> 00:04:12,660 Speaker 4: get something in return for your investment? And that's what 80 00:04:12,680 --> 00:04:15,800 Speaker 4: you expect. You expect a return on your investment. So 81 00:04:15,820 --> 00:04:20,140 Speaker 4: that's number two. And number three, this is deep. As 82 00:04:20,180 --> 00:04:27,200 Speaker 4: your income increases, your cost of living should decrease dramatically. 83 00:04:28,270 --> 00:04:32,830 Speaker 4: or stay the same. Stop living, brothers and sisters, above 84 00:04:32,890 --> 00:04:36,169 Speaker 4: your means. Stop living, which means you're spending more than 85 00:04:36,190 --> 00:04:40,320 Speaker 4: you earn. Stop living even within your means, which means 86 00:04:40,360 --> 00:04:45,560 Speaker 4: you're spending everything you earn, and live below your means 87 00:04:46,000 --> 00:04:50,720 Speaker 4: and invest the rest, right? So as your income increases, 88 00:04:50,760 --> 00:04:54,530 Speaker 4: your car Your cost of living should either decrease or 89 00:04:54,930 --> 00:05:00,130 Speaker 4: stay the same. Do not raise your cost of living 90 00:05:00,170 --> 00:05:03,750 Speaker 4: because you gotta raise. Take that difference between what you 91 00:05:03,830 --> 00:05:08,470 Speaker 4: were earning and what you're now earning and invest it. 92 00:05:08,970 --> 00:05:13,540 Speaker 4: Don't spend it. And the first person you invest in 93 00:05:13,710 --> 00:05:19,880 Speaker 4: is you. Tithe to you first. Take the money off 94 00:05:19,940 --> 00:05:22,680 Speaker 4: the top. Don't spend what you have to spend to 95 00:05:22,740 --> 00:05:26,890 Speaker 4: pay your bills and then invest what you got left. No, no, no, no, no, no, no. 96 00:05:27,330 --> 00:05:32,690 Speaker 4: Invest in you first. And then if you follow these 97 00:05:32,770 --> 00:05:36,469 Speaker 4: three rules, there's no way that you cannot land on 98 00:05:36,550 --> 00:05:37,390 Speaker 4: financial freedom. 99 00:05:37,870 --> 00:05:40,490 Speaker 3: And that's what we are talking about. Financial freedom. 100 00:05:40,670 --> 00:05:42,930 Speaker 4: Sean, there's six habits that will keep us broke. There's 101 00:05:43,029 --> 00:05:47,240 Speaker 4: six habits that will keep you broke. Right. Not talking 102 00:05:47,300 --> 00:05:51,000 Speaker 4: about money. We don't talk about it in school. We 103 00:05:51,040 --> 00:05:54,089 Speaker 4: generally don't talk about it around the family table. That'll 104 00:05:54,130 --> 00:05:58,450 Speaker 4: keep you broke. You've got to talk about money, understand capitalism, 105 00:05:58,630 --> 00:06:03,860 Speaker 4: understand money. So talking about money will help prevent you 106 00:06:03,960 --> 00:06:06,880 Speaker 4: from keeping broke. Talking about it around the family table, 107 00:06:06,940 --> 00:06:09,960 Speaker 4: talking about it among your friends is more important than 108 00:06:10,220 --> 00:06:16,590 Speaker 4: what's happening on Real Housewives of Atlanta. Number two. failing 109 00:06:16,990 --> 00:06:20,830 Speaker 4: to build an emergency fund. Now we've all been taught 110 00:06:21,150 --> 00:06:23,510 Speaker 4: that we need to save some money for a rainy day. 111 00:06:23,890 --> 00:06:28,260 Speaker 4: So failing to build an emergency fund for more than 112 00:06:28,339 --> 00:06:31,180 Speaker 4: six months, I would look at it now for at 113 00:06:31,240 --> 00:06:34,000 Speaker 4: least a year. What does it take for you to live, 114 00:06:34,080 --> 00:06:38,820 Speaker 4: to maintain your standard of living for at least 12 months, right? 115 00:06:39,100 --> 00:06:41,680 Speaker 4: And make sure that you have that as cash available 116 00:06:41,720 --> 00:06:46,800 Speaker 4: to you. Number three, making impulse purchases. Let me say 117 00:06:46,839 --> 00:06:50,060 Speaker 4: it a different way. I would rather carry a plastic 118 00:06:50,100 --> 00:06:52,510 Speaker 4: bag with $ 5, 000 in it than to carry a $ 5, 000 119 00:06:52,380 --> 00:06:59,659 Speaker 4: Louis Vuitton bag with $ 100 in it. Stop making impulse purchases, right? 120 00:06:59,800 --> 00:07:03,320 Speaker 4: Because that's going to drain you of your cash available. 121 00:07:04,050 --> 00:07:09,400 Speaker 4: Number four, buying items you don't need because they're on sale. Now, 122 00:07:09,480 --> 00:07:12,740 Speaker 4: I have to chastise my wife often about this. Why 123 00:07:12,760 --> 00:07:14,490 Speaker 4: do you buy? Well, it was on sale. I said, 124 00:07:14,500 --> 00:07:17,330 Speaker 4: but you already got three of them. Yes. Right. So 125 00:07:17,830 --> 00:07:23,420 Speaker 4: buying stuff that you don't need. Manage. your impulse buying. 126 00:07:23,890 --> 00:07:28,500 Speaker 4: And number five, paying bills late because of the exorbitant 127 00:07:28,780 --> 00:07:33,080 Speaker 4: interest rates when you pay your bills late, especially those 128 00:07:33,140 --> 00:07:35,940 Speaker 4: credit cards. Man, you look at the annual interest rate 129 00:07:36,080 --> 00:07:38,570 Speaker 4: on these credit cards and if you're paying the minimum 130 00:07:38,590 --> 00:07:41,410 Speaker 4: that you have to pay each month, you will never 131 00:07:41,450 --> 00:07:42,630 Speaker 4: pay that credit card off. 132 00:07:42,830 --> 00:07:45,810 Speaker 1: That minimum is a trick move. That minimum monthly payment 133 00:07:45,830 --> 00:07:46,650 Speaker 1: is a trick move. 134 00:07:47,330 --> 00:07:51,300 Speaker 4: That's right. Absolutely. You'll never pay it off. All right. 135 00:07:51,660 --> 00:07:55,740 Speaker 4: So don't pay your bills late. Don't pay the minimums. 136 00:07:56,200 --> 00:08:01,080 Speaker 4: Always pay more. I try to pay double to triple 137 00:08:01,400 --> 00:08:07,200 Speaker 4: the minimum. I might pay 25 percent of what I owe. 138 00:08:07,640 --> 00:08:10,860 Speaker 4: So that's number five. Don't pay bills late and don't 139 00:08:10,900 --> 00:08:14,460 Speaker 4: pay minimums is a beautiful point you made. And number six, 140 00:08:14,700 --> 00:08:17,720 Speaker 4: the improper use of credit cards. Yeah. the improper use 141 00:08:17,800 --> 00:08:22,030 Speaker 4: of credit cards. 15 years ago, I cut up all 142 00:08:22,250 --> 00:08:25,170 Speaker 4: of my, I have no credit cards. What I have 143 00:08:25,610 --> 00:08:30,390 Speaker 4: are debit cards that are attached to my bank account, Rashawn, 144 00:08:30,630 --> 00:08:34,160 Speaker 4: and I cannot spend any more than I have in 145 00:08:34,220 --> 00:08:37,660 Speaker 4: my damn checking account. So, you know, I'm thinking about 146 00:08:37,760 --> 00:08:40,469 Speaker 4: every time I use my debit card and I got, 147 00:08:40,540 --> 00:08:43,090 Speaker 4: I got, Three or four of them because I have 148 00:08:43,590 --> 00:08:47,130 Speaker 4: various banks for various needs, but I can never spend 149 00:08:47,850 --> 00:08:54,030 Speaker 4: any more than I have available right now. So improper 150 00:08:54,150 --> 00:08:57,620 Speaker 4: use of, so these are habits that keep us broke. 151 00:08:58,660 --> 00:09:03,330 Speaker 4: And we are also the most financially illiterate people in America. 152 00:09:03,770 --> 00:09:05,970 Speaker 4: We are at the bottom of every single statistic that 153 00:09:06,010 --> 00:09:09,740 Speaker 4: matters in this country economically. And so we need to 154 00:09:10,040 --> 00:09:14,060 Speaker 4: educate ourselves, educate our children. This is related to talking 155 00:09:14,120 --> 00:09:17,920 Speaker 4: about money. And as a result of that. As a 156 00:09:17,980 --> 00:09:24,240 Speaker 4: responsible leader in this country, as you are, we started 157 00:09:24,320 --> 00:09:30,040 Speaker 4: our WINS Wealth Building Centers to address financial illiteracy in 158 00:09:30,090 --> 00:09:33,290 Speaker 4: black America. Because if the business of America is business, 159 00:09:33,630 --> 00:09:39,130 Speaker 4: it is dangerous, Rashaun, and self-defeating to be financially illiterate. Therefore, 160 00:09:39,350 --> 00:09:44,220 Speaker 4: education is the answer. The key to a well-rounded financial 161 00:09:44,340 --> 00:09:49,819 Speaker 4: education is to align... People's mindsets, their habits, their values 162 00:09:50,000 --> 00:09:54,300 Speaker 4: and solutions with the importance of the overall goals of 163 00:09:54,350 --> 00:09:59,630 Speaker 4: black America or according to numerous analytical statistics and studies 164 00:09:59,670 --> 00:10:04,210 Speaker 4: and predictions. we will ultimately, if we don't fix our 165 00:10:05,030 --> 00:10:10,429 Speaker 4: financial bad-ass habits, right? We will be relegated to permanent 166 00:10:10,490 --> 00:10:14,460 Speaker 4: second-class citizenry, and we will end up in a second slavery. 167 00:10:14,500 --> 00:10:19,720 Speaker 4: So we developed, in 2018, the Wynn's Wealth Building Centers 168 00:10:19,760 --> 00:10:24,520 Speaker 4: and Curriculum to address, among other things, the psychology, the 169 00:10:24,600 --> 00:10:28,229 Speaker 4: emotions and our relationship with money in both the secular 170 00:10:28,450 --> 00:10:33,830 Speaker 4: and non-secular black organizations, both the church and other black organizations. 171 00:10:33,890 --> 00:10:38,589 Speaker 4: And we're softly focusing on our deep-seated struggle with instant 172 00:10:38,950 --> 00:10:42,260 Speaker 4: versus delayed gratification. It's one of the very bad habits 173 00:10:42,280 --> 00:10:46,319 Speaker 4: that we have. And we're struggling with the basics of 174 00:10:46,380 --> 00:10:51,599 Speaker 4: financial growth to include, but it's not limited to the 175 00:10:51,679 --> 00:10:54,750 Speaker 4: four pillars for the intergenerational transfer of wealth. That is 176 00:10:54,780 --> 00:10:58,829 Speaker 4: the essence of our WINS financial centers. And we've got 177 00:10:59,150 --> 00:11:03,030 Speaker 4: over 20 churches already involved with our curriculum and with 178 00:11:03,090 --> 00:11:06,410 Speaker 4: our program. But the four pillars, very simply, are the 179 00:11:06,450 --> 00:11:09,580 Speaker 4: proper management of accumulated wealth so that we can start 180 00:11:09,620 --> 00:11:13,619 Speaker 4: reading about entertainers and athletes that earn $ 100 million in 181 00:11:13,640 --> 00:11:16,000 Speaker 4: their career. And within five years, they're either broke or 182 00:11:16,040 --> 00:11:20,640 Speaker 4: in bankruptcy. The second pillar is real estate. ownership, both 183 00:11:20,720 --> 00:11:25,520 Speaker 4: residential and commercial real estate is the cornerstone for the 184 00:11:25,559 --> 00:11:29,490 Speaker 4: intergenerational transfer of wealth. The fourth one is business development. 185 00:11:30,050 --> 00:11:33,510 Speaker 4: We are the consumption class in this country. White folks 186 00:11:33,650 --> 00:11:37,190 Speaker 4: are the merchant class. They make stuff and we buy stuff. 187 00:11:37,410 --> 00:11:40,309 Speaker 4: Stop doing that, brothers and sisters, if you sell something. 188 00:11:40,670 --> 00:11:43,850 Speaker 4: sell something. In America, two things are going on 24-7. 189 00:11:44,130 --> 00:11:48,220 Speaker 4: Somebody's buying and somebody's selling. We're doing all the damn buying. 190 00:11:48,270 --> 00:11:50,939 Speaker 4: So if you make cookies, put them in a box, 191 00:11:50,980 --> 00:11:53,199 Speaker 4: put your name on it, and sell it to somebody. 192 00:11:53,360 --> 00:11:56,579 Speaker 4: If you live on a farm, take the manure, put 193 00:11:56,640 --> 00:11:59,020 Speaker 4: it in a bag, put your name on it, and 194 00:11:59,140 --> 00:12:01,660 Speaker 4: sell it to somebody. You can become an entree manure. 195 00:12:02,120 --> 00:12:06,250 Speaker 4: Stop doing all the damn buying and sell something. This 196 00:12:06,330 --> 00:12:10,130 Speaker 4: is extremely important. On this, I'll give one final little 197 00:12:10,250 --> 00:12:14,689 Speaker 4: quote by Bishop Tudor. Bishop Tudor Bismarck. He wrote a 198 00:12:14,770 --> 00:12:19,630 Speaker 4: wonderful book called Kingdom Economics. And I'm going to quote him. 199 00:12:20,030 --> 00:12:24,349 Speaker 4: And he says, as black people, we have embarked upon 200 00:12:24,390 --> 00:12:30,020 Speaker 4: a new millennium. And this millennium brings momentous change. We 201 00:12:30,059 --> 00:12:34,860 Speaker 4: see differences in every facet of society, cultural shifts, economic upheavals, 202 00:12:34,940 --> 00:12:40,330 Speaker 4: political changes, and more. As believers, it is imperative not 203 00:12:40,470 --> 00:12:44,170 Speaker 4: only must we be spiritually sound, but we must also 204 00:12:44,370 --> 00:12:51,130 Speaker 4: establish a firm kingdom economic foundation. We must now unlock 205 00:12:51,330 --> 00:12:56,730 Speaker 4: the keys to economic empowerment. Well, end of quote, I 206 00:12:56,770 --> 00:13:00,410 Speaker 4: concur with that. And so I'm recommending that the brothers 207 00:13:00,450 --> 00:13:03,720 Speaker 4: and sisters out there, if you belong to a church family, 208 00:13:04,030 --> 00:13:07,300 Speaker 4: talk to your pastor, get in touch with us and 209 00:13:07,360 --> 00:13:11,060 Speaker 4: put a Winswalth Building Center. It's a little license agreement 210 00:13:11,360 --> 00:13:16,210 Speaker 4: and use our curriculum and start educating your congregation. You'll 211 00:13:16,250 --> 00:13:20,230 Speaker 4: have a better congregation. You'll have a more. a financial 212 00:13:20,429 --> 00:13:23,990 Speaker 4: free congregation, there'll be better tithers, there'll be better givers. 213 00:13:24,290 --> 00:13:27,580 Speaker 4: So this is a very, very big and important idea 214 00:13:27,640 --> 00:13:30,980 Speaker 4: that must be sustained over at least three or the 215 00:13:31,000 --> 00:13:32,300 Speaker 4: next three or four generations. 216 00:13:32,440 --> 00:13:34,160 Speaker 1: So that's important. 217 00:13:34,400 --> 00:13:37,570 Speaker 6: Please don't go anywhere. We'll be right back with more 218 00:13:37,660 --> 00:13:47,660 Speaker 6: Money Making Conversations Masterclass. Welcome back to the Money Making 219 00:13:47,720 --> 00:13:50,840 Speaker 6: Conversations Masterclass hosted by Rashawn McDonald. 220 00:13:51,100 --> 00:13:53,540 Speaker 5: The Power Networking Conference has been the home of black 221 00:13:53,620 --> 00:13:56,890 Speaker 5: entrepreneurs looking to connect. That's important when I say connect, 222 00:13:57,050 --> 00:14:00,650 Speaker 5: grow and prosper. Forbes voted it as one of the 223 00:14:00,710 --> 00:14:03,980 Speaker 5: top five conferences in the world for entrepreneurs. They pride 224 00:14:04,020 --> 00:14:07,199 Speaker 5: themselves on unique philosophy of networking, building a financial legacy 225 00:14:07,260 --> 00:14:08,300 Speaker 5: for your grandchildren. 226 00:14:08,559 --> 00:14:09,660 Speaker 1: And this is about the future. 227 00:14:09,800 --> 00:14:13,250 Speaker 4: And the reason I love it is because we launched 228 00:14:13,410 --> 00:14:20,010 Speaker 4: at our conference the first virtual nation called Fraser Nation. 229 00:14:20,130 --> 00:14:22,670 Speaker 4: It was a virtual, this is before the pandemic. So 230 00:14:22,690 --> 00:14:25,670 Speaker 4: I'm not, you know, I'm not a soothsayer. I can't 231 00:14:25,710 --> 00:14:29,490 Speaker 4: predict the future. I was not predicting a pandemic that 232 00:14:29,510 --> 00:14:32,170 Speaker 4: would make everything go virtual. But I said, I think 233 00:14:32,210 --> 00:14:37,170 Speaker 4: we could have a virtual nation, right? And it's very 234 00:14:37,250 --> 00:14:45,100 Speaker 4: simply provide access to overall training and coaching and modeling 235 00:14:45,140 --> 00:14:48,800 Speaker 4: that is needed by our citizens and therefore help improve 236 00:14:49,020 --> 00:14:53,510 Speaker 4: the recycling of black dollars and intellectual capital among our 237 00:14:53,590 --> 00:14:59,090 Speaker 4: citizens and allies. It's this massive database of top black professionals, 238 00:14:59,150 --> 00:15:04,740 Speaker 4: business owners, and community leaders. Access the intellectual capital, access 239 00:15:05,220 --> 00:15:09,760 Speaker 4: the products and services that black people sell around the world, 240 00:15:10,120 --> 00:15:15,790 Speaker 4: in the entire Pan-African diaspora. When you look at the 241 00:15:15,950 --> 00:15:20,250 Speaker 4: businesses that we own and we're not supporting like we 242 00:15:20,290 --> 00:15:24,410 Speaker 4: should support, so this helps the connectivity of that and 243 00:15:24,430 --> 00:15:29,770 Speaker 4: it provides This kind of database and virtual meetings and 244 00:15:30,190 --> 00:15:38,300 Speaker 4: virtual conferences and virtual summits and virtual workshops. Right. Because 245 00:15:38,360 --> 00:15:40,480 Speaker 4: virtual ain't going away. 246 00:15:40,540 --> 00:15:42,440 Speaker 5: That's why I just said, because a lot of people 247 00:15:42,460 --> 00:15:45,920 Speaker 5: don't understand that. You can't look at it as being 248 00:15:45,980 --> 00:15:48,140 Speaker 5: negative because it's a brick and mortar. And the goals 249 00:15:48,180 --> 00:15:51,160 Speaker 5: of FrasierNet are simple. Help black people build wealth that 250 00:15:51,180 --> 00:15:55,210 Speaker 5: can be transferred into society. generational wealth opportunity for the future, 251 00:15:55,550 --> 00:15:58,130 Speaker 5: helped Black people become the number one employer of Black 252 00:15:58,170 --> 00:16:01,610 Speaker 5: people in the 21st century, to facilitate building a global 253 00:16:01,670 --> 00:16:06,270 Speaker 5: network of Africans throughout the diaspora whose focus is personal 254 00:16:06,650 --> 00:16:10,030 Speaker 5: and business excellent and using it to build partnerships, join ventures, 255 00:16:10,450 --> 00:16:12,150 Speaker 5: and strategic alliances. 256 00:16:12,450 --> 00:16:14,810 Speaker 1: That's very key right there. Networking. 257 00:16:14,830 --> 00:16:19,990 Speaker 4: And now the whole virtual thing has been normalized. Yes. Right? Yes. 258 00:16:20,010 --> 00:16:22,430 Speaker 1: That's why I love it, George. I'm so excited. 259 00:16:23,330 --> 00:16:26,360 Speaker 5: I am so excited for your brand because, you know, 260 00:16:26,740 --> 00:16:31,680 Speaker 5: we stumbled upon, because of the COVID-19, the real purpose. 261 00:16:32,300 --> 00:16:34,600 Speaker 1: Because, you know, not that we didn't know. We didn't know. 262 00:16:34,780 --> 00:16:36,720 Speaker 5: You know, we were just doing what everybody do. You know, 263 00:16:37,100 --> 00:16:39,870 Speaker 5: IBM does it. All the big corporations do these brick 264 00:16:39,910 --> 00:16:43,450 Speaker 5: and mortar. But you had to be trained in the pandemic, 265 00:16:43,510 --> 00:16:47,510 Speaker 5: train people to look at TV, to Zoom, Instagram Live, 266 00:16:47,590 --> 00:16:48,229 Speaker 5: Facebook Live. 267 00:16:48,250 --> 00:16:51,340 Speaker 1: So everybody's there now. Your brand is. 268 00:16:51,300 --> 00:16:54,560 Speaker 4: A global brand. There you go. There you go. There 269 00:16:54,600 --> 00:16:57,530 Speaker 4: you go. No question about it. And with brothers like 270 00:16:57,590 --> 00:16:59,890 Speaker 4: you promoting it, I'm telling you, this is very important. 271 00:16:59,930 --> 00:17:04,650 Speaker 4: What you're doing, what you're saying, your reach, your credibility, 272 00:17:04,670 --> 00:17:10,320 Speaker 4: the way people trust you. I mean, this is the 273 00:17:10,440 --> 00:17:14,639 Speaker 4: gold standard for how we get this out there. and 274 00:17:15,050 --> 00:17:18,550 Speaker 4: used by our people. We've got to have people like 275 00:17:18,730 --> 00:17:22,629 Speaker 4: you talking about it. And heck, you talk about it 276 00:17:22,690 --> 00:17:25,889 Speaker 4: better than I do. I mean, you know why? Because 277 00:17:25,910 --> 00:17:26,590 Speaker 4: you see it. 278 00:17:26,810 --> 00:17:28,580 Speaker 1: You see it. You see it. 279 00:17:28,619 --> 00:17:31,020 Speaker 4: You're a visionary. You see it. You know what the 280 00:17:31,080 --> 00:17:34,100 Speaker 4: possibilities are. You know that we have to do this. 281 00:17:34,460 --> 00:17:36,560 Speaker 4: We don't have any choice. That's why I'm so excited. 282 00:17:36,619 --> 00:17:39,800 Speaker 4: I'm so excited. We have to do this. Yeah. What 283 00:17:39,859 --> 00:17:43,230 Speaker 4: we have to do is create the instruments, the vessels, 284 00:17:43,410 --> 00:17:46,710 Speaker 4: and the tools for us to do it and then 285 00:17:46,830 --> 00:17:55,580 Speaker 4: move it through our marketing and advertising channels. radio, television, 286 00:17:55,660 --> 00:18:00,419 Speaker 4: social media system that is so targeted and so effectively 287 00:18:00,550 --> 00:18:04,070 Speaker 4: utilized by Black people. And it will happen. It will work. 288 00:18:04,250 --> 00:18:05,350 Speaker 4: There's no question about it. 289 00:18:05,410 --> 00:18:07,730 Speaker 3: I want everybody to understand that. That means that you 290 00:18:07,770 --> 00:18:08,550 Speaker 3: can be in Africa. 291 00:18:08,850 --> 00:18:09,990 Speaker 1: You can be in England. 292 00:18:10,010 --> 00:18:12,930 Speaker 5: You can be in France. You can be in Mexico. 293 00:18:13,210 --> 00:18:16,410 Speaker 5: You can be in Canada. And now you can participate 294 00:18:16,710 --> 00:18:17,490 Speaker 5: in this conference. 295 00:18:17,510 --> 00:18:17,750 Speaker 4: That's right. 296 00:18:18,390 --> 00:18:22,440 Speaker 1: And that's why it's so important that we tell everybody this. 297 00:18:22,480 --> 00:18:24,600 Speaker 5: I want you to take off your little narrow hats 298 00:18:24,619 --> 00:18:26,580 Speaker 5: about how can I participate? 299 00:18:26,600 --> 00:18:28,260 Speaker 1: You don't have to get on a plane. 300 00:18:28,740 --> 00:18:32,830 Speaker 5: This has been conceptualized to be very network friendly for 301 00:18:32,990 --> 00:18:35,470 Speaker 5: all the things that he's always talking about. Meet millionaires, 302 00:18:35,510 --> 00:18:39,820 Speaker 5: potential partners, investors and build your network. workshop speaks, all 303 00:18:39,859 --> 00:18:44,540 Speaker 5: these things, registration, student registration, VIP registration, ultra VIP registration, 304 00:18:45,040 --> 00:18:48,899 Speaker 5: all these things, seminars, all these things are available virtually. 305 00:18:49,940 --> 00:18:51,100 Speaker 5: That's amazing to me. 306 00:18:51,240 --> 00:18:53,230 Speaker 1: You know I'm fired up. 307 00:18:53,520 --> 00:18:55,719 Speaker 4: I mean, just think about that. I mean, when's the 308 00:18:55,800 --> 00:18:58,479 Speaker 4: last time Black people from all. 309 00:18:58,480 --> 00:19:02,639 Speaker 7: Over the diaspora were able to come together around a 310 00:19:02,780 --> 00:19:07,240 Speaker 7: common vision, right, with instruction, motivation, some of the best 311 00:19:07,520 --> 00:19:12,189 Speaker 7: and baddest speakers and preachers on the planet, the Reverend 312 00:19:12,330 --> 00:19:16,729 Speaker 7: Freddie Haynes posts our talk every year. Jamal Bryant opens 313 00:19:16,750 --> 00:19:19,550 Speaker 7: the talk every year. And I mean, we can just 314 00:19:19,650 --> 00:19:23,340 Speaker 7: voice Watkins will be there. So we can go down 315 00:19:23,359 --> 00:19:25,420 Speaker 7: the list. It is just incredible. 316 00:19:25,580 --> 00:19:29,540 Speaker 4: If you want to know more about The Virtual Power 317 00:19:29,560 --> 00:19:40,730 Speaker 4: Networking Conference. Just go to www.powernetworkingconference.com. www.powernetworkingconference.com. If, in fact, 318 00:19:40,750 --> 00:19:43,430 Speaker 4: you can't find a link or something, just email me. 319 00:19:43,869 --> 00:19:47,300 Speaker 4: Just email me very simply at G. Fraser, F-R-A-S as 320 00:19:47,380 --> 00:19:53,750 Speaker 4: in Sam, E-R, at FraserNet.com. G. Fraser at FraserNet.com. And 321 00:19:53,810 --> 00:19:57,050 Speaker 4: I'll make sure you get everything you need to know to, 322 00:19:57,190 --> 00:19:58,850 Speaker 4: in fact, get registered. That's Dr. 323 00:19:58,930 --> 00:20:00,090 Speaker 3: George C. 324 00:20:00,150 --> 00:20:00,890 Speaker 1: Fraser. 325 00:20:01,190 --> 00:20:04,130 Speaker 5: He's a renowned networking guru, chairman and CEO. You're not 326 00:20:04,150 --> 00:20:06,260 Speaker 5: emailing just anybody, not an assistant. 327 00:20:06,840 --> 00:20:07,139 Speaker 4: Dr. 328 00:20:07,200 --> 00:20:07,740 Speaker 3: George C. 329 00:20:07,780 --> 00:20:08,980 Speaker 1: Frazier, that's who you're in the net. 330 00:20:09,040 --> 00:20:13,020 Speaker 5: Renowned networking guru, chairman and CEO of FrazierNet, a company 331 00:20:13,040 --> 00:20:16,260 Speaker 5: he founded over 32 years ago to lead global networking 332 00:20:16,280 --> 00:20:19,760 Speaker 5: and economic development movement for people of African descent. 333 00:20:20,820 --> 00:20:21,699 Speaker 1: That's FrazierNet. 334 00:20:22,160 --> 00:20:25,320 Speaker 5: A belief that we should be in the game, not as. 335 00:20:25,760 --> 00:20:28,070 Speaker 1: Buyers, but as sellers. 336 00:20:28,869 --> 00:20:32,090 Speaker 5: People, product, put your name on something, become an entrepreneur, 337 00:20:32,450 --> 00:20:35,010 Speaker 5: telling you how you can become an entrepreneur. putting a 338 00:20:35,050 --> 00:20:38,360 Speaker 5: plan in place so you can win, not only just short-term, long-term, 339 00:20:38,520 --> 00:20:40,459 Speaker 5: because that's what this is all about. Because everybody go 340 00:20:40,520 --> 00:20:41,990 Speaker 5: out there, they want to do something, they'll have a 341 00:20:42,030 --> 00:20:45,169 Speaker 5: plan in place. That's short-term success. We're trying to create 342 00:20:45,230 --> 00:20:48,850 Speaker 5: long-term success at FrasierNet. That's why it's virtual. That's why 343 00:20:49,150 --> 00:20:52,050 Speaker 5: he's always on my show. I feel blessed that I'm 344 00:20:52,109 --> 00:20:54,210 Speaker 5: able to bring somebody of his caliber on my show. 345 00:20:54,230 --> 00:20:56,490 Speaker 1: He always be hyping me up. I be hype because 346 00:20:56,710 --> 00:20:59,190 Speaker 1: he's one of the few people I just let him talk. 347 00:20:59,690 --> 00:21:03,410 Speaker 5: I just interrupt periodically, just drop some dives, remind everybody 348 00:21:03,619 --> 00:21:05,939 Speaker 5: how gifted it is to even hear him talk like 349 00:21:05,980 --> 00:21:09,740 Speaker 5: this because your beliefs and your values mean something to people. 350 00:21:10,160 --> 00:21:12,419 Speaker 5: What I like to always say is that that's why 351 00:21:12,440 --> 00:21:16,580 Speaker 5: I'm excited about the virtual event, FrasierNet, because. 352 00:21:16,520 --> 00:21:19,100 Speaker 3: You're just a hidden gem. Your network's not saying that 353 00:21:19,140 --> 00:21:21,100 Speaker 3: you're not unknown. I don't want to insult like that. 354 00:21:21,500 --> 00:21:26,439 Speaker 3: But this virtual platform allows more people to participate. 355 00:21:26,460 --> 00:21:28,340 Speaker 1: It's such a blessing. It's such a blessing, brother. 356 00:21:28,540 --> 00:21:28,940 Speaker 3: Such a blessing. 357 00:21:28,960 --> 00:21:32,690 Speaker 4: Well, God bless you, Rashawn. God bless you. And God 358 00:21:32,710 --> 00:21:36,950 Speaker 4: bless all that you mean to us and your servant leadership, 359 00:21:36,970 --> 00:21:39,629 Speaker 4: because you are a servant. I mean, you just... are 360 00:21:39,670 --> 00:21:42,730 Speaker 4: incredible in how you manage that and how you focus 361 00:21:42,770 --> 00:21:45,649 Speaker 4: on that, emphasize that. It's all in your voice and 362 00:21:45,710 --> 00:21:50,150 Speaker 4: in your spirit. And so I'm going to close with 363 00:21:50,190 --> 00:21:53,250 Speaker 4: giving the brothers and sisters out here a little tip 364 00:21:53,450 --> 00:21:55,450 Speaker 4: on how to build your passive income, how to build 365 00:21:55,470 --> 00:21:57,390 Speaker 4: your passive income. Because there should not be a black 366 00:21:57,450 --> 00:22:01,100 Speaker 4: person in America with a single stream of income, right? 367 00:22:01,300 --> 00:22:04,239 Speaker 4: All of us should have multiple streams of income, what 368 00:22:04,260 --> 00:22:07,180 Speaker 4: we call a passive income. So take your nine to 369 00:22:07,240 --> 00:22:10,949 Speaker 4: five income. If you've got a job, 97% of us 370 00:22:11,010 --> 00:22:15,909 Speaker 4: have a job. Take your nine to five income and 371 00:22:16,190 --> 00:22:20,950 Speaker 4: use that to fuel your side hustle. Okay, whatever that 372 00:22:20,970 --> 00:22:24,560 Speaker 4: may be, sell something. That's your side hustle. Then use 373 00:22:24,600 --> 00:22:28,740 Speaker 4: your side hustle to fuel the money you get from that, 374 00:22:28,980 --> 00:22:32,879 Speaker 4: to fuel your investments because you're going to get extra 375 00:22:32,920 --> 00:22:35,460 Speaker 4: money and you're going to invest that money. I don't 376 00:22:35,480 --> 00:22:38,710 Speaker 4: care if it's cryptocurrency, stocks, bonds, whatever it is, whatever 377 00:22:38,730 --> 00:22:42,649 Speaker 4: floats your boat, invest your side hustle money and then 378 00:22:42,730 --> 00:22:49,230 Speaker 4: take your investments and over time, your investments will replace 379 00:22:49,590 --> 00:22:53,109 Speaker 4: your nine to five. That's the goal. 380 00:22:54,369 --> 00:22:54,910 Speaker 1: That's the goal. 381 00:22:55,130 --> 00:22:56,450 Speaker 4: That's the goal. That's right. 382 00:22:57,720 --> 00:22:58,619 Speaker 3: I want to appreciate you. 383 00:22:59,100 --> 00:23:01,060 Speaker 5: But again, thank you for coming on the show. And 384 00:23:01,140 --> 00:23:04,400 Speaker 5: I got to do my job now. See, you always 385 00:23:04,440 --> 00:23:05,950 Speaker 5: give me instructions, but you don't. 386 00:23:05,830 --> 00:23:07,990 Speaker 1: Even know it. See, when you come on my show, Dr. 387 00:23:08,010 --> 00:23:10,750 Speaker 5: Frazier, you put me to work in a positive manner 388 00:23:10,770 --> 00:23:13,830 Speaker 5: because I said, okay, I said, okay, you know, it's like, 389 00:23:13,930 --> 00:23:16,429 Speaker 5: it's like, you know, you're the Pope of entrepreneurship to me. 390 00:23:16,490 --> 00:23:17,350 Speaker 3: You're the Pope now. 391 00:23:17,630 --> 00:23:21,290 Speaker 1: The Pope became the town. He then blessed everybody with information. Now, 392 00:23:21,330 --> 00:23:23,389 Speaker 1: guess what? We got to get busy and spread the word. 393 00:23:23,690 --> 00:23:25,550 Speaker 5: So that my mission right now is to spread the 394 00:23:25,570 --> 00:23:27,710 Speaker 5: word of Frazier Nick, My friend. 395 00:23:27,850 --> 00:23:28,670 Speaker 1: We talk soon, OK? 396 00:23:29,109 --> 00:23:32,260 Speaker 5: This has been another edition of Money Making Conversations Masterclass 397 00:23:32,420 --> 00:23:34,320 Speaker 5: hosted by me, Rashawn McDonald. 398 00:23:34,640 --> 00:23:36,619 Speaker 1: Thank you to our guests on the show today. And 399 00:23:36,700 --> 00:23:38,580 Speaker 1: thank you, our listening audience. 400 00:23:38,880 --> 00:23:40,780 Speaker 5: Now, if you want to listen to any episode or 401 00:23:40,800 --> 00:23:44,710 Speaker 5: want to be a guest on the show, visit MoneyMakingConversations.com. 402 00:23:45,070 --> 00:23:48,570 Speaker 5: Our social media handle is Money Making Conversations. Join us 403 00:23:48,609 --> 00:23:51,090 Speaker 5: next week. And remember to always lead with your gifts. 404 00:23:51,550 --> 00:23:52,070 Speaker 1: Keep winning.