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Speaker 1: Hi.

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Speaker 2: I am Rashan McDonald, a host of weekly Money Making

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Speaker 2: Conversation Masterclass show. The interviews and information that this show

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Speaker 2: provides are for everyone. It's time to stop reading other

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Speaker 2: people's success stories and start living your own. If you

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Speaker 2: want to be a guest on my show, please visit

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Speaker 2: our website, Moneymaking Conversations dot com and click.

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Speaker 1: To be a guest.

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Speaker 2: Button press submit and information will come directly to me.

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Speaker 2: Now let's get this show started. Has anybody ever thought

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Speaker 2: about you can raise your hand. You can raise your

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Speaker 2: hand and your car driving, you know, just raise your eyebrow?

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Speaker 2: Thought about starting a business? Why didn't you do it?

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Speaker 2: Have you ever thought about hiring people for your business

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Speaker 2: and you've hired the wrong people? Have you ever thought

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Speaker 2: about hiring relatives and guess what, you hired those relatives.

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Speaker 1: Have you ever hired.

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Speaker 2: People that you were getting a good deal on them?

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Speaker 2: Oh they got oh they cheap. Oh that salary fits

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Speaker 2: right into my budget, but they don't have the experience.

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Speaker 1: Am I?

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Speaker 2: Am I tapping into the right lanes with some of

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Speaker 2: y'all out there? Or how about starting your business and

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Speaker 2: you don't even have a budget. It's just a good

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Speaker 2: idea Am I tapping into anybody out there yet?

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Speaker 1: Okay, how about this? How about this? You start a

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Speaker 1: business with somebody you don't know. How about that? How

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Speaker 1: about how about this? You start a business. You know,

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Speaker 1: I'm from Texas.

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Speaker 2: So they say you can start a business with a handshake,

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Speaker 2: that's what will be contractual.

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Speaker 1: I've done that before. Yeah, you don't make it.

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Speaker 2: How to be a successful business owners, that's a bold

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Speaker 2: statement for me to say marketing and branding. Have a

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Speaker 2: company called thirty eight fifteen Media, Inc. Based in Atlanta, Georgia.

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Speaker 2: I started it as an idea and I just started

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Speaker 2: hiring people. Were they the best qualified people? No? In hindsight, No,

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Speaker 2: But I knew them. I knew them, they knew me,

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Speaker 2: We had long term relationships. They could do certain things,

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Speaker 2: and I hired them. That's the number one problem with

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Speaker 2: most people who fail in this business is they hire

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Speaker 2: people just because they're close to them. They hire people

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Speaker 2: because they make them feel comfortable. You hire people because

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Speaker 2: they're just right there and they're available to be hired.

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Speaker 2: That's the number one mistake and the number two mistake.

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Speaker 2: Do you have time for your business?

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Speaker 3: Wow?

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Speaker 2: You know I would tell people this. I get up

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Speaker 2: at four thirty money to do fraud. That's what time

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Speaker 2: four thirty am I get up and people always go.

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Speaker 1: Whoa, whoa four thirty when you're doing it front thirty.

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Speaker 1: I was fortunate to give a speech. Uh. I was

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Speaker 1: at the Look.

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Speaker 2: It was an area in Atlanta called lot Thornia is

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Speaker 2: right outside of Atlanta, Georgia Chamber of Commerce, and I

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Speaker 2: was speaking to him. That's one of the reasons they

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Speaker 2: brought me over. It was to speak about how to

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Speaker 2: be a successful business owner. And when you're speaking to

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Speaker 2: typic of people about being a successful business owner, one

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Speaker 2: thing you have to admit that is that you made mistakes.

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Speaker 2: I opened a comedy club in Houston, Texas called Hip

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Speaker 2: Hop Comedy Style. I got in business with a person

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Speaker 2: I didn't even know. Well, guess what. He was a

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Speaker 2: stand up comic too, so he liked telling jokes. I

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Speaker 2: liked telling jokes. Yeah, I guess he make a good business.

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Speaker 1: Pardon. So that's how we got in.

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Speaker 2: That's like you, that's like you like to eat chicken,

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Speaker 2: and you know somebody who makes good chickens, So y'all

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Speaker 2: just gonna go into chicken business. Same same thing, same thing.

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Speaker 2: I didn't know his likes, his dislikes. I didn't know

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Speaker 2: his work happens. I didn't know if he like getting

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Speaker 2: up early or do you like staying late? Did he

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Speaker 2: even have an idea how to run a business. That's

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Speaker 2: how I got in business. But the other side of

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Speaker 2: that is that it became a very popular comedy club.

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Speaker 2: Lines out the door. I used to do a show

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Speaker 2: on Thursday. Tickets are gonna sell on Monday. They were

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Speaker 2: sold out in the hour. That's how popular was the room.

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Speaker 2: Seats like three hundred and fifty people line out the

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Speaker 2: door on Thursday show. Showtime. I hit the stage at

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Speaker 2: eight nine o'clock. People wouldn't go in the room until

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Speaker 2: it was nine. Eight thirty was an empty room. They

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Speaker 2: didn't want to see the other comics. I walk in

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Speaker 2: nine o'clock, room packed. Eight thirty to eight fifty five,

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Speaker 2: room was empty, nine o'clock packed. We were making money.

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Speaker 2: But what guess what what happens when you start making money?

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Speaker 2: I forgot You pay taxes. You pay taxes on tickets,

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Speaker 2: you pay taxis on liquor, so so.

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Speaker 1: Those little things.

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Speaker 2: So all that money that you're making somebody else I

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Speaker 2: want a piece of it. So you can't look at

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Speaker 2: ten dollars as a real ten dollars.

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Speaker 1: But because I.

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Speaker 2: Didn't have a budget, because I didn't take time to

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Speaker 2: understand how to run a business, I was just doing

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Speaker 2: all the wrong things. So I'm sure a lot of

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Speaker 2: you guys out there, ladies, I think, because women are

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Speaker 2: the fastest growing entrepreneurial part in this company, especially black women,

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Speaker 2: y'all just running things now in a good way, opening

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Speaker 2: up business. I'm sure you opening up business a lot

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Speaker 2: more than me, better than me. So I was making

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Speaker 2: money but couldn't understand how selling out. But I can't

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Speaker 2: pay myself, so I was just working for free because

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Speaker 2: I didn't have Because what you can't do, I'll tell

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Speaker 2: you something about this, the biggest mistake in a business.

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Speaker 2: You can't open a business and then try to sell

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Speaker 2: the budget because now you're playing catch up because you

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Speaker 2: can't justify because you didn't have a budget at the beginning.

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Speaker 2: You to have known why you have all these people

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Speaker 2: hanging around you getting checks for you or wanting to

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Speaker 2: get checked for you, then you understand why you fail.

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Speaker 2: So when you're making money as a business owner, you

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Speaker 2: can't be successful because of the reason that if you

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Speaker 2: try to be successful because you never had a plan.

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Speaker 2: That's the number one reason we fail. And the other

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Speaker 2: number one reason we fail is do you have time

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Speaker 2: for your business. I can't tell you how many people

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Speaker 2: get mad because the store. After a while, they open

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Speaker 2: their business. It opens a ten but they're getting there

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Speaker 2: at the same time the customers get there. They getting

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Speaker 2: mad because the customers got their own time, not knowing

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Speaker 2: they got a restaurant here, they got to pre set

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Speaker 2: up everything. The customers get y'all ever be in a restaurant.

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Speaker 2: You've been in a restaurants where.

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Speaker 1: Oh, we don't have that on the menu. Don't that

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Speaker 1: make you mad? Oh we ran out? How you gonna

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Speaker 1: run out of something that's on your menu?

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Speaker 2: Then you plan to make this, Then you plan this,

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Speaker 2: make this a part of your regular I've been I've

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Speaker 2: been in restaurants where they have actually used a.

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Speaker 1: Marker to strike through things that they don't do their

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Speaker 1: menu no more.

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Speaker 2: Now I'm supposed to come back for that. Here is

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Speaker 2: a little note now about business. It's called consistency. I

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Speaker 2: always tell people that a little I'm just using Target

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Speaker 2: as an example. If Target, if you drove by Target

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Speaker 2: at night and they sign wasn't on, you think they'd

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Speaker 2: be closed. So if like on Monday, Tuesday, and Wednesday,

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Speaker 2: Target sign was on, but Thursday, Friday and Saturday was off,

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Speaker 2: you think they'd be out of business, or you stop

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Speaker 2: trusting them so you won't go there or put them

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Speaker 2: on the list, and you actually started spreading rumors, negative

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Speaker 2: rumors about Target or business like Target. And that's what

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Speaker 2: happens if we're inconsistent. So if you if you opening

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Speaker 2: the business and you saying you doing things, you gotta

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Speaker 2: be there to do it, and everybody sees the profit line,

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Speaker 2: you know, they buy franchise. You know they want to

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Speaker 2: buy franchise like Chick fil A or Jagging Box or

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Speaker 2: McDonald's or they heard or or Bojangles. That's that's a

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Speaker 2: real hot franchise right now that people are buying. It

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Speaker 2: still requires work, and so what these franchises try to

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Speaker 2: do they try to train you so you're gonna pay

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Speaker 2: a fee, but they just don't let you just.

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Speaker 1: Run out there.

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Speaker 2: They're gonna find out if you have time to to

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Speaker 2: run that franchise because they're applying the same business principles

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Speaker 2: that I am doing in this conversation, I'm having with

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Speaker 2: you right now, the conversation of being able to sit

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Speaker 2: down and apply to you a makeshift plan, a make

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Speaker 2: sense plan of how.

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Speaker 1: You can be successful. So when you buy a franchise,

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Speaker 1: what they do is they bring you in, they.

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Speaker 2: Sit you down, and they have you work with somebody

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Speaker 2: who has your best interests. Listen to me, now, your

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Speaker 2: best interest because what they don't want to do is

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Speaker 2: put a franchise out there and it clothes because it

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Speaker 2: makes them look bad. So now if you don't have time,

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Speaker 2: but you heard, did these franchises make a lot of money?

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Speaker 2: Then they gonna have a problem with you. Then you're

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Speaker 2: gonna get mad at them because they telling you why

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Speaker 2: you're not there to open up their business on time.

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Speaker 2: It guess what they're gonna do after a while, they'll

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Speaker 2: come take their license. Then what you're trying to do now,

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Speaker 2: you're trying to suit you. Now you huddle up with

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Speaker 2: your friends and family, all you in the corners, just

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Speaker 2: cussing and fussing like they've done you wrong. But you're

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Speaker 2: the one didn't live up to the standards. They have

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Speaker 2: copyright there they have. You just can't let anybody in

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Speaker 2: the kitchen if you making donuts.

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Speaker 1: You just can't let it. You just can't shoot a.

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Speaker 2: Video back there for TikTok making donuts back there, making

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Speaker 2: cakes back there.

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Speaker 1: You mad because that's they recipes. Everybody can't see this.

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Speaker 2: Because you don't know the rules. You want to try

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Speaker 2: to make your own rules. That's why you want to

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Speaker 2: be successful. I'm tell you why I was not successful

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Speaker 2: at my comedy club. Even though lines at the door.

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Speaker 2: You can look at up Hip Hop Comedy Stop nineteen

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Speaker 2: ninety two to nineteen ninety four, Houston, Texas one of

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Speaker 2: the most popular comedy clubs in the country. Everybody came

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Speaker 2: through the Joe tur Cedric did a tainer some more.

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Speaker 2: All the big stars came through there, Steve Harvey, everybody

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Speaker 2: came to that club.

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Speaker 4: Made no money, made no money, broke even because I

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Speaker 4: didn't have a budget, because I didn't know what I

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Speaker 4: was doing. I was in business with a person I

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Speaker 4: didn't know, and he had a full time job.

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Speaker 2: So guess what he kept saying, Hey, man, you got it,

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Speaker 2: you got it, you got it. Well guess what I

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Speaker 2: got tired of being the person who got it. Then

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Speaker 2: I have family whoa When we come back, we're gonna

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Speaker 2: talk about hiring family.

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Speaker 1: Who hire family?

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Speaker 2: That's big a mistake you can make hiring family now,

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Speaker 2: especially when the mama, when the mama told you to

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Speaker 2: hire him. This is Shan McDonald Market and Brandy expert

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Speaker 2: telling you how to be a successful business owner. We've

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Speaker 2: already covered have time for your business. Now we're gonna

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Speaker 2: do you hire relatives because you loved it. We'll be

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Speaker 2: right back for boy Money Making Conversation master Class. Don't

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Speaker 2: go nowhere, y'all, I just got started.

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Speaker 5: Who please don't go anywhere. We'll be right back with

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Speaker 5: more money Making Conversations Masterclass. Welcome back to the Money

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Speaker 5: Making Conversations Masterclass, hosted by Rashaan McDonald. Money Making Conversations

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Speaker 5: Masterclass continues online at Moneymakingconversations dot com and follow money

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Speaker 5: Making Conversations Masterclass on Facebook, Twitter and Instagram.

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Speaker 1: This is my opinion. It's not the opinion the station

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Speaker 1: you're listening to. This.

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Speaker 2: Rashan McDonald just pouring his soul out on the show

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Speaker 2: today a little bit. I'm gonna start doing this more off.

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Speaker 1: I like this.

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Speaker 2: I know I'm to have great guests, but I think

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Speaker 2: you guys need to hear how did I become the

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Speaker 2: person I had, I became, I become and I will

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Speaker 2: continue to become. How to be a successful own business

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Speaker 2: owner is the topic, Maris, How you doing? My friend

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Speaker 2: Morris is underline talk to me, Marris is Rushan McDonald speaking.

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Speaker 1: How you doing?

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Speaker 3: Hey, I'm doing well? How are you?

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Speaker 1: What you want to talk about, Marris?

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Speaker 4: Good?

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Speaker 3: So I wanted to find out if you have any

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Speaker 3: recommended sources where we could learn how to properly budget

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Speaker 3: for a business. I know, of course you can google

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Speaker 3: and things like that, but are there any resources that

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Speaker 3: you specifically recommend to help us properly establish a budget

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Speaker 3: for our business?

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Speaker 2: Absolutely? Call it small Business Administration. They're in every major

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Speaker 2: city and please go to them, because when I opened

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Speaker 2: my comedy club, I went there, and when I went there,

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Speaker 2: and I'm just using a club for an example. If

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Speaker 2: they tell you, if you can tell them your club

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Speaker 2: is three thousand square feet, they'll tell you how many

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Speaker 2: table chairs you need, They'll tell you how many classes

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Speaker 2: you need, They'll tell you everything because they have books

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Speaker 2: and then they have another part called Score, and Score

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Speaker 2: is made up of retired executives, people who are entrepreneurs,

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Speaker 2: people who have been in the business successful, and they

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Speaker 2: can mentor you. They can mentor you so you can

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Speaker 2: ask these honest questions. It's called SCORE and it's called

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Speaker 2: small Business Administration. And believe me, I tell people about

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Speaker 2: this all the time. Do not step out there dreaming

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Speaker 2: without a plan, because if you dream about the planet,

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Speaker 2: they're gonna come and slap you in the face and

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Speaker 2: wake you up and it will be a nightmare when

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Speaker 2: you wake up.

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Speaker 1: I walk up into a nightmare. I kid you not, Morris.

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Speaker 2: I was making money and I never saw none of

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Speaker 2: it because I didn't have a budget. I didn't understand

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Speaker 2: who I was in business with. And guess what. In

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Speaker 2: the end, I hired my relatives and guess what, they

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Speaker 2: had full time jobs, so they will not committed to my.

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Speaker 1: Dream because they had to get back to work the

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Speaker 1: next day.

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Speaker 2: So small Business Administration SBA and it's called SCORE. Like

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Speaker 2: you score a touchdown those two organizations. You can get

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Speaker 2: it through small Businessmen SBA right here in Georgia. Is

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Speaker 2: also in Texas, is also in New York. It's also

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Speaker 2: any major state, any major city has it. I would

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Speaker 2: advise you to call them and guess what.

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Speaker 1: It's free.

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Speaker 3: Oh excellent, Well, good luck my friend.

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Speaker 2: Thank you for calling the money make comings in master clouse.

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Speaker 2: Hope you got something out of the call. Thank you,

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Speaker 2: my friend, Angela.

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Speaker 1: How you doing.

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Speaker 5: I'm good taking my call.

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Speaker 1: What question can I answer for you, Angela?

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Speaker 3: The calls I would love.

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Speaker 5: I appreciate you sharing your your failures because I think

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Speaker 5: that helped sets the stage for me going into acquiring

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Speaker 5: a business.

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Speaker 1: Ma'am.

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Speaker 3: So yeah, please just continue to share some of the

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Speaker 3: lessons learned because I'm learning a lot. Don't hire your family,

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Speaker 3: plan your work and working.

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Speaker 1: Well'm I tell you them, I'll tell you them.

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Speaker 2: It's higher I hire your family, though, because I don't

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Speaker 2: want to get all family members of bad reputation. Now,

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Speaker 2: do not hire your families. If your mama told you to.

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Speaker 3: Hire okay, okay.

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Speaker 2: Don't hire them that way. Don't hire your family out

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Speaker 2: of love. Okay, those two things. Now, if your families qualified,

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Speaker 2: they've done the work, they will put in the work

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Speaker 2: they're hired. You treat them like. Here's the thing I

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Speaker 2: would tell people. You know, if you hire a family member,

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Speaker 2: they should have the same qualifications and put out the

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Speaker 2: same effort of somebody you would not know that you

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Speaker 2: wanted to.

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Speaker 1: Hire for the same position.

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Speaker 2: But if you're bringing them in and your lord qualifications,

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Speaker 2: you will law in the work ethic, you will law

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Speaker 2: in the responsibility for that same job.

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Speaker 1: So now you've lowered the standard for that job three times.

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Speaker 2: So why do you expect that person to be effective

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Speaker 2: when you need them to work forty hours a week?

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Speaker 1: Here's here's is it?

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Speaker 2: I'm gonna roll here. I gotta tell you something else.

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Speaker 2: If you hire somebody, then they start changing the rules

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Speaker 2: on how they work.

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Speaker 1: You know what I'm saying.

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Speaker 2: Yeah, see, I'm very clear and when I hire people,

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Speaker 2: and you should be very clear because you you send

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Speaker 2: you send a letter to them outlining the.

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Speaker 1: Job description, you both agreed on the salary.

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Speaker 2: After a couple of weeks they started they start coming

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Speaker 2: in and making an excuse you like, well, you know.

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Speaker 1: I got to pick up the kids. Okay, you tell

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Speaker 1: me about that when I hired you. Okay, you tell

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Speaker 1: me about that. Or I gotta leave work early because

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Speaker 1: of traffic.

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Speaker 2: You tell me about that when I hired you do

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Speaker 2: So what happens is you have to be able to

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Speaker 2: see a certain question. You can't ask when you hire people.

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Speaker 2: But if somebody ubers to the interview, I wouldn't hire.

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Speaker 5: Okay, you lay the foundation straight from the beginning.

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Speaker 2: But of course, you know there's certain questions you cannot

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Speaker 2: ask when you ask, but you have to have common

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Speaker 2: sense and whole approach. If you should ask somebody where

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Speaker 2: they live. You know, my company up in the Alpharetta.

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Speaker 2: Now anybody down there by the airport, I have to

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Speaker 2: question whether or not they can come to my job

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Speaker 2: on the regular basis. I just have to question that

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Speaker 2: because I know there's heavy traffic in the morning and

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Speaker 2: the afternoon, and my job's eight to five.

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Speaker 1: So I don't care how much they say they want

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Speaker 1: the job.

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Speaker 2: I have to do common sense realize I may be

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Speaker 2: compromising my business because guess what happens. They're gonna come

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Speaker 2: in and start changing the rules with traffic, uh, family issues, uh,

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Speaker 2: you know, and then then they're gonna say something to you.

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Speaker 2: They're really gonna make you mad. You know, your job

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Speaker 2: kind of far.

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Speaker 1: But you know all that.

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Speaker 2: But you knew all that when you hire that person,

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Speaker 2: because guess what they told you where they lived, but

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Speaker 2: you ignored it.

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Speaker 1: So Angela, thank you for calling.

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Speaker 2: These are some of the little things, and I'm not finished,

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Speaker 2: so keep your keep your radio on, because I got

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Speaker 2: more to talk about.

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Speaker 1: Keep your podcast on all.

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Speaker 4: That, guess I will.

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Speaker 2: Now here's the problem that a lot of people have

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Speaker 2: when they open the business. This I'm talking to business

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Speaker 2: owner's talking to entrepreneurs. Listen to me, parking. I don't

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Speaker 2: know why people think they can just open up, open

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Speaker 2: up a business, and not worry about parking. I had

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Speaker 2: a comedy club, y'all. See I see see that comedy

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Speaker 2: club taught me a lot, y'all. I had no parking.

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Speaker 2: All my parking was on the streets. Out there on

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Speaker 2: the streets, three hundred people cars parked out down the street,

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Speaker 2: up and down the streets all up. Boy, I was popular, though,

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Speaker 2: But guess what happens when you just parking any kind

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Speaker 2: of way, any kind of way, any kind of place.

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Speaker 2: Bad things start happening. Bad people start showing up, start

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Speaker 2: busting in car windows, So people would leave my comedy shows,

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Speaker 2: come back in over shun my car being broken into

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Speaker 2: so what So then my insurance got to cover that.

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Speaker 2: So suddenly my insurance starts going up because I got

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Speaker 2: a business, beautiful building, fantastic, no parking though, but I

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Speaker 2: ignored the no parking issue because guess what, I fell

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Speaker 2: in love with the building. So I had to hire

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Speaker 2: people to walk up and down the streets to stop

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Speaker 2: people from busting into cars.

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Speaker 1: Now you see why I wasn't making no money When.

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Speaker 2: You make all these ignorant decisions no budget in business.

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Speaker 2: Somebody didn't know by the leasing the building for two

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Speaker 2: years with no parking.

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Speaker 3: Rue.

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Speaker 2: I'm gonna close this out about this person. You should

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Speaker 2: never ever hire. Do not hire inexperienced employees because they

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Speaker 2: are cheaper.

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Speaker 1: I'm I'm let you just let that so in a minute.

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Speaker 2: Do not hire inexperience employees because they are cheaper. One

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Speaker 2: they have no leadership abilities. Two they need constant supervision.

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Speaker 2: Three they do not understand the position and the company

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Speaker 2: and will not help you win WI in capital letters

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Speaker 2: long term. And I'm gonna put a little quote around here.

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Speaker 2: I said something by relatives. Do not hire friends. I've

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Speaker 2: done that. It has burnt me. When it came time

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Speaker 2: to make a decision. They reminded me that I did

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Speaker 2: them wrong. They reminded me that they were the victim.

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Speaker 2: They reminded me that I didn't know what I was doing.

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Speaker 2: And you're exactly right, because I was running a business

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Speaker 2: based on friendship, no budget, family and a partner. I

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Speaker 2: didn't know. You cannot win like that. Ladies and gentlemen,

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Speaker 2: as you listen to me talk about marketing and branding

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Speaker 2: and how to be a successful business owner. The bottom line,

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Speaker 2: it's on you look in the mirror and make a

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Speaker 2: decision that benefits you, your family and your future. This

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Speaker 2: is another episode of Money Making Conversation Masterclass. I want

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Speaker 2: to thank always, thank y'all every week for listening, and

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Speaker 2: I just want to share this moments with you today.

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Speaker 2: I'm gonna do this once a month, share some of

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Speaker 2: my personal stories, my personal background as to why I

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Speaker 2: can talk like this because I've made mistakes and you've

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Speaker 2: heard the people who called in. I answered their question

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Speaker 2: because I know where to go now and I will

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Speaker 2: be able to help you as long as you listen

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Speaker 2: to me every time I open my mouth and bring

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Speaker 2: the guests on this show because it's for your personal

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Speaker 2: benefit and it's free.

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Speaker 1: I'm Rashan McDonald. We talked to him.

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Speaker 2: This has been another edition of Money Making Conversation Masterclass

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Speaker 2: posted by me, Rashawn McDonald. Thank you to our guests

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Speaker 2: on the show today and thank you our listening to

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Speaker 2: Autist now if you want to listen to any episode

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Speaker 2: I want to be a guest on the show, Visit

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Speaker 2: Moneymakingconversations dot com. Our social media handle is money Making Conversation.

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Speaker 2: Join us next week and remember to always leave with

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Speaker 2: your gifts.

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Speaker 1: Keep winning.