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Speaker 1: Speaks to the plan in Charlamagne to God.

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Speaker 2: Here and as we come close to closing out this year,

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Speaker 2: I just want to say thank you for tuning it

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Speaker 2: into the Black Effect podcast network. There have been so

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Speaker 2: many great moments over the past year. Take a listen

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Speaker 2: to some of those captivating moments in this special best

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Speaker 2: of episode.

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Speaker 3: Landy Smith is founder and CEO at Actively Black in

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Speaker 3: Active Faith, both wildly successful athletes and brands doing numbers

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Speaker 3: and unlikely fashion mogul. Landy is a former college star

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Speaker 3: basketball player and pro athlete. But this wasn't the road

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Speaker 3: he chose, but he found his path. In his first

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Speaker 3: year in businesses brands earned one hundred thousand dollars in revenue.

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Speaker 3: Now he's doing seven million. He talks about how that's

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Speaker 3: a void of representation and investment, specifically the gap in

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Speaker 3: the market that Actively Black aims to address.

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Speaker 4: Yeah, I think, you know, first and foremost, this at

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Speaker 4: leisure segment of apparel has been the fastest growing segment

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Speaker 4: of all apparel for the last seven years. There was

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Speaker 4: a huge spike during you know, during COVID, and people

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Speaker 4: thought that it would slow down afterwards, but it hasn't.

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Speaker 1: I mean, I think.

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Speaker 4: Because of the nature of this industry where it's you know,

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Speaker 4: people are not just wearing this apparel to work out anymore,

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Speaker 4: you know, I mean, at leisure is now something that

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Speaker 4: people are wearing to travel to work, and it's even

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Speaker 4: become like a fashion thing as well.

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Speaker 1: So I think because of that, there's.

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Speaker 4: So much room in space in this particular segment. I

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Speaker 4: think the last numbers I saw was that by twenty thirty,

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Speaker 4: at leisure is going to be a four hundred billion dollar.

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Speaker 1: Market itself.

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Speaker 4: And then, you know, when you think about the black audience,

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Speaker 4: Mackenzie actually just released a report that showed that by

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Speaker 4: twenty thirty, Blacks in the United States alone we'll be

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Speaker 4: spending seventy billion annually on apparel and footwear. So, you know,

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Speaker 4: in a space that seems like it's oversaturated and crowded,

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Speaker 4: there's so many brands that are doing some real numbers,

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Speaker 4: that are doing some real things. I think the differentiating

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Speaker 4: factor for actively Black is I saw a voids specifically

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Speaker 4: in this sports apparel at leisure wear space. So we're

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Speaker 4: not a streetwear brand, We're not a fashion brand. We

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Speaker 4: are a true at leisure sports apparel brand. And you know,

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Speaker 4: when you think about some of the legacy companies that

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Speaker 4: have existed in this space. You know, these brands have

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Speaker 4: profited billions of dollars off of Black talent, black consumerism,

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Speaker 4: black culture, and I feel like they hadn't adequately reinvested

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Speaker 4: back into the Black community in a meaningful way.

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Speaker 1: And so, you know, it's time.

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Speaker 4: It's like, you know, why not have have the black

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Speaker 4: version of Nike, the black owned version of of of.

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Speaker 1: Nike and Lulu limit? Why not?

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Speaker 5: You know?

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Speaker 4: And so I think our level of quality and the

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Speaker 4: way that we've built the brand has positioned us to

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Speaker 4: be in a place where, you know, a lot of

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Speaker 4: our customers we get comments from them where they're like, hey,

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Speaker 4: I don't have to buy Nike or Lululemon again. I

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Speaker 4: can replace all of those types of items in my

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Speaker 4: closet with actively black And so I.

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Speaker 1: Think that's the void that we're feeling.

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Speaker 4: And because we are unapologetically and boldly black and celebrating

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Speaker 4: black culture and centering Black culture in everything that we do,

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Speaker 4: it stands out it makes us different from what exists

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Speaker 4: in the market.

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Speaker 3: Yeah, I love that, And I want to talk about

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Speaker 3: that market segmentation that you know, being by black people,

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Speaker 3: and you know, you've got active faith and actively black,

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Speaker 3: and I think about you know, these are both in

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Speaker 3: many ways sub categories of you know, populations of people.

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Speaker 3: And so when you think about segmentation in that way,

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Speaker 3: often entrepreneurs, erroneously or correctly, depending on the effort, you know,

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Speaker 3: miscalculate the size of the market and or try to

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Speaker 3: go after a market that's wildly inappropriate for what they're

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Speaker 3: trying to do. And so how do you how do

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Speaker 3: you think about what is the big opportunity for a

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Speaker 3: black owned you know, athletes, your brand when you think

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Speaker 3: about those two categories, like is it big enough? Talk

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Speaker 3: about the size and you know, you know, obviously yes,

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Speaker 3: yes it's going to be big enough, but talk about

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Speaker 3: how you got there?

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Speaker 1: Yeah yeah, yeah.

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Speaker 4: So you know, first, I think in general with entrepreneurs,

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Speaker 4: one of the things that a lot of us will

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Speaker 4: do is we'll have an idea for something and we'll

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Speaker 4: put all of our energy and resources into building that

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Speaker 4: product and building that service or whatever it is, and

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Speaker 4: then we go and try to find an audience to.

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Speaker 1: Sell it to or to serve it to.

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Speaker 4: Where for both active faith and actively black, I feel

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Speaker 4: like where I've kind of reversed engineered some of this.

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Speaker 4: And I learned this from Greta. I can't remember Greta's

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Speaker 4: last name, but she's built six or seven different e

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Speaker 4: commerce direct to consumer brands, and one of the pieces

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Speaker 4: of advice that she gave was find and build an

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Speaker 4: audience first, and then build product that serves that audience, right,

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Speaker 4: And so that kind of gives you a better chance

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Speaker 4: at success and a better chance at succeeding because now

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Speaker 4: you're creating product that super serves an audience that you

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Speaker 4: or that you found, instead of the other way around

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Speaker 4: where you're building it and like, Okay, now let me

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Speaker 4: go find somebody who wants.

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Speaker 1: This for the black audience specifically.

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Speaker 4: It's been interesting when I first was launching Actively Black,

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Speaker 4: I had black people tell me that if I named

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Speaker 4: it Actively Black and if I focused on the black audience,

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Speaker 4: that it was going to prevent this brand from being successful,

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Speaker 4: that we wouldn't have the TAM right, the total addressable

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Speaker 4: market wouldn't be big enough for us to be successful.

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Speaker 1: I was hoping, you go here.

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Speaker 3: I'm glad you're going here.

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Speaker 1: Yeah yeah, yeah, yeah, And it was it was.

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Speaker 4: It was disheartening and disappointing at times to hear that,

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Speaker 4: because this wasn't just other people telling me this. This

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Speaker 4: is black people telling me this too. Like Noah, I

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Speaker 4: don't name it Actively Black, it's going to limit its

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Speaker 4: chances of success.

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Speaker 1: And I have seen I see that more.

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Speaker 4: As a sign of.

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Speaker 6: The effects of oppression and the systemic discrimination and all

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Speaker 6: the things that black people have had to deal with,

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Speaker 6: especially in corporate America, where black culture and you authentically

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Speaker 6: showing up as yourself is something that it's kind of

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Speaker 6: frowned upon, you know what I mean.

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Speaker 1: So so when you start to in turn that, you think, okay.

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Speaker 4: Well, anything that is so boldly and unapologetically black is

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Speaker 4: a negative. And so even the mission and purpose of

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Speaker 4: what I'm doing with Actively Black is to reclaim and

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Speaker 4: redefine what it means to be black. We've unfortunately listened to.

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Speaker 1: What oppressors have told us.

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Speaker 4: What black means instead of us actually owning what it

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Speaker 4: means to be black. And I think that's why it

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Speaker 4: shows up in that way.

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Speaker 1: And so you know, my response to many of them

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Speaker 1: is one.

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Speaker 4: When you think about the size of the diaspora, because

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Speaker 4: that's one thing that I need people to understand we're

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Speaker 4: not building this for Black Americans. This is Actively Black.

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Speaker 4: To me, is a global brand that will galvanize the

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Speaker 4: entire diaspora around the globe under this brand that represents

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Speaker 4: all of us.

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Speaker 1: The tagline for Actively Black is.

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Speaker 4: There's greatness in our DNA, you know, So whether you

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Speaker 4: are you know, from Houston, Texas like myself, Brooklyn, London, Jamaica, Legos, Nigeria, wherever,

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Speaker 4: there's a part of our DNA that ties us together.

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Speaker 1: And I don't think that there's been a brand so far.

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Speaker 4: That has existed that has chosen to put all of

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Speaker 4: us under the same umbrella as one tribe.

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Speaker 1: And that's what we're trying to do Actively Black. And

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Speaker 1: when you think.

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Speaker 4: About the size of the diaspora, then you start to

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Speaker 4: realize we're actually not the minority, you know what I mean.

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Speaker 4: I think there's this misconception that we are the minority

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Speaker 4: in the world. So if we're only speaking to the

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Speaker 4: black audience, it's too small of an audience to speak

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Speaker 4: to or to sell to, right And the crazy part

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Speaker 4: about that is every corporation, every multi billion dollar brand,

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Speaker 4: either has a department or they're having meetings to figure

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Speaker 4: out how to sell to the black consumer.

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Speaker 3: That's right, right, that's right.

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Speaker 1: So if the.

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Speaker 4: Black consumer is big enough for Nike to be figured

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Speaker 4: out how do we sell to the black audience, for

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Speaker 4: Coca Cola to figure out how do we sell to

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Speaker 4: the black audience. If our audience is big enough for

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Speaker 4: these multi billion dollar brands to focus on how they

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Speaker 4: sell to us, then why would it not be big.

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Speaker 1: Enough for a black on brand to sell to us?

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Speaker 1: You know what I mean?

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Speaker 4: Like, that's that's the part that has never made sense

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Speaker 4: to me. But I know part of it is just

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Speaker 4: because some of this hasn't been done before.

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Speaker 1: And so.

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Speaker 4: You you know, I'm a believer that you can't be

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Speaker 4: what you can't see, you know what I mean. And

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Speaker 4: so if we've never seen a black Nike before, then

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Speaker 4: maybe it's just it hasn't existed before in our minds,

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Speaker 4: so it can't be done.

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Speaker 1: That's what I'm fighting against.

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Speaker 3: Nicki Sondis is a powerhouse in the world of content

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Speaker 3: strategy and personal branding. She's the content strategist and founder

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Speaker 3: of Deeper Than the Brand, where she helps entrepreneurs, speakers,

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Speaker 3: and creatives grow their digital footprint authentically. She's best known

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Speaker 3: for her work with motivational speaker Eric Thomas, better known

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Speaker 3: as ET what she helps scale his online community exponentially.

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Speaker 3: She's passionate about helping others turn their social media presence

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Speaker 3: into a vehicle for success using the power of storytelling,

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Speaker 3: AI and impactful strategy. So what goes wrong when I

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Speaker 3: believe I have a post that's fire and I post

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Speaker 3: it and it goes flat and nothing happens, nobody likes it?

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Speaker 3: Like what happens?

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Speaker 1: Nikki?

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Speaker 3: Help me out?

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Speaker 7: I mean, it could be a few things like that.

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Speaker 7: That's such a broad question. It's like, it could be

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Speaker 7: the timing, it could be anything from you didn't have

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Speaker 7: to write hook, it could be the algorithm. There's a

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Speaker 7: lot of things like it's I always look at when

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Speaker 7: I post and it goes flat. I look at me first. Yeah, right,

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Speaker 7: I think it's easier to control what I post than

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Speaker 7: what I put out and what I create instead of

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Speaker 7: going ah, the algorithm is doing what it does. I

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Speaker 7: was like, because I can't. I feel like that's a

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Speaker 7: cop out when other people numbers are clearly are doing Okay.

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Speaker 7: I'm just feeling a certain kind of way because no

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Speaker 7: one's listening to me at this moment. But then I have,

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Speaker 7: like I look at it from a standpoint of all right, visually,

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Speaker 7: how does it look? You know, what was the first

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Speaker 7: three seconds? Did I? Uh? Did I keep their attention?

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Speaker 7: Because depending on the platforms, if you get them to

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Speaker 7: listen through the whole way through, like that could be

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Speaker 7: a thing. So it's it's just it's a lot of things.

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Speaker 7: It's a lot of things.

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Speaker 3: Our pictures on Instagram.

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Speaker 7: Dad, No, No, it's just you feel me like you

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Speaker 7: got to put it extra loving it, So you may

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Speaker 7: have to put like some music, you feel me. You

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Speaker 7: may have to make it into a carousel, so you

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Speaker 7: may have to say extra stories. You may have to

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Speaker 7: be a little bit more intentionals with the captions and

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Speaker 7: make it a little bit longer. What happens is what

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Speaker 7: the days of I post a picture and I say

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Speaker 7: one sentence. Now that's dead, let's just stop it. It

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Speaker 7: doesn't even work. But the more that they add features,

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Speaker 7: we have to pay attention to it. So they're allowing

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Speaker 7: you to add text to it, They're allowing you to

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Speaker 7: add extra pictures on top of your pictures. So you

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Speaker 7: look at let's say, the different features that are inside

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Speaker 7: of Instagram, and you use them it probably better you

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Speaker 7: reach for your post.

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Speaker 3: And so what I learned, and this is a year

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Speaker 3: ago more, what Instagram does is they count swipes through

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Speaker 3: your photo gallery as engagement. And so what I wonder

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Speaker 3: if because I actually enjoyed these particular types of posts

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Speaker 3: where there it's a gallery and like none of the

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Speaker 3: photos match, like they just you know, maybe one is

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Speaker 3: a quote, the one is me eating, the next one

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Speaker 3: is you know, something random. I actually enjoy though, so

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Speaker 3: tell like, what is that about? Why are people doing that?

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Speaker 1: I enjoy it? But where did it come from? What happened?

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Speaker 7: So sometimes they follow a theme, right, Sometimes they could

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Speaker 7: be super just randomness, but it really gives you a

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Speaker 7: sense of personality of the person who's posting it or

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Speaker 7: the brand who's posting it, right, And so that's not

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Speaker 7: necessarily normal in the way that we normally post that.

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Speaker 7: Now it's starting to be attractive. So when we're seeing, Okay,

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Speaker 7: I have a picture of me at the park, but

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Speaker 7: then I have a funny meme on the next one,

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Speaker 7: and then I have a deep quote, it's like I'm

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Speaker 7: fully truly understanding who you are as a person, rather

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Speaker 7: than the thirty second sixty second videos ninety second videos

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Speaker 7: that can be kind of like staged and scripted, So

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Speaker 7: sometimes we don't necessarily get your full personality unless it's

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Speaker 7: those types of posts or even lives. That's why lives

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Speaker 7: still kind of have a little bit of energy to

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Speaker 7: it because we get to know who you are because

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Speaker 7: you can't really lie on a live. It's just impossible,

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Speaker 7: as truly as possible.

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Speaker 3: So I'm going to ask a question. I'm going to

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Speaker 3: go the long way around to ask this question because

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Speaker 3: I think this is important context. So we talk a

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Speaker 3: lot about how educational institutions don't teach financial literacy, and

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Speaker 3: a lot of them do now they're increasingly teaching financial literacy.

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Speaker 3: And I say that, you say this when we talk

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Speaker 3: about entrepreneurs and people who are trying to build businesses.

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Speaker 3: Don't post the struggle, but they post the highlights, so

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Speaker 3: you only see the highlight reel. But when you do

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Speaker 3: post the struggle, or we find it difficult to post

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Speaker 3: the struggle, I'll say that, So how do we all

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Speaker 3: for that? So when we talk about the academic and

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Speaker 3: they trying to fix that, how do we fix you know,

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Speaker 3: the entrepreneur who's trying to show you that he's winning

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Speaker 3: or she's winning, and they're finding success and therefore follow me.

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Speaker 3: I'm on a row somewhere, but that struggle, like, I

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Speaker 3: don't want to sound like I'm on here doing the

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Speaker 3: Tyree's cry. You know what I mean, right, But.

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Speaker 7: The Tyres's cry worked good or bad? It worked, you

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Speaker 7: feel mean? So But I say that because I think

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Speaker 7: now in the season that we're in, the day in

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Speaker 7: the life is starting to get more play. Then I

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Speaker 7: fully got it together, right, And those people who are

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Speaker 7: actually taking advantage of that is like gen Z and Jena,

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Speaker 7: like Alpha, like they're they're really going into day one

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Speaker 7: of trying to create a billion dollar brand, right, and

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Speaker 7: they show everything about it, good or bad. The those

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Speaker 7: people who can't do that, it's a self issue. It

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Speaker 7: has nothing to do with the algorithms the platforms. Does

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Speaker 7: the content work or not? Because society culture is over

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Speaker 7: the highlight reils. We want the actual things that work

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Speaker 7: or that doesn't work, or I want to feel like

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Speaker 7: I'm not alone anymore, right, And so those people who

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Speaker 7: are showing, hey, this is how I do this, I

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Speaker 7: don't know if it's right. I don't know if it's like,

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Speaker 7: but I'm going to do it anyways. It builds community,

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Speaker 7: and so those brands are starting to get more and

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Speaker 7: more traction because it's community centered. It's for the people. Whereas, yes,

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Speaker 7: the ones that only show the highlights are great cool.

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Speaker 7: You could look at it more like as these are goals.

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Speaker 7: I want to get there, but I feel disconnected because

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Speaker 7: you're already there and I'm not. So I could look

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Speaker 7: at you kind of like I look at it more

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Speaker 7: of like we do the vision boards, so I could

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Speaker 7: post your brand, your content on my vision board, but

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Speaker 7: I don't, like, I don't truly feel connected until I

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Speaker 7: am there. Where people who are posting about Okay, I

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Speaker 7: made ten dollars today, Okay, I made three thousand dollars today.

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Speaker 7: Okay it went back to like four. Like, those are

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Speaker 7: starting to get a little bit more attraction. It's still

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Speaker 7: not of the masses just yet, but you start if

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Speaker 7: you pay attention. It's definitely more popular on TikTok at

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Speaker 7: this moment, but it's starting to make waves on YouTube,

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Speaker 7: on Instagram, on Facebook as well because people are just

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Speaker 7: starting to like, are just over the highlight reel.

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Speaker 3: I Hope Brian is chairman and CEO at John Hope

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Speaker 3: Bryant Holdings, Brian Group Ventures, Brian Group Advisors, and executive

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Speaker 3: chairman of the Promise Homes Company, which is the largest

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Speaker 3: for profit, minority controlled owner of institutional quality, single family

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Speaker 3: residential homes in the United States. And he's founded chairman

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Speaker 3: and CEO at Operation Hope, the nation's largest on the

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Speaker 3: ground nonprofit provider of financial literacy. He's been an advisor

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Speaker 3: to presidents the largest corporations in the world, and he's

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Speaker 3: responsible for financial literacy becoming the official policy of the

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Speaker 3: United States federal government under Presidents George Bush and Obama.

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Speaker 3: And it's the only American citizen to ever inspire the

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Speaker 3: renaming of a building on the White House campus from

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Speaker 3: the US Treasury Annex Building to the Freeman's Bank Building

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Speaker 3: in honor of Lincoln's unfinished work to teach free slaves

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Speaker 3: about money.

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Speaker 1: In eighteen sixty five.

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Speaker 5: He that conversation, and for your listeners, I want them

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Speaker 5: to hear this and again I go all this, over

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Speaker 5: all this in financial Literacy for All, and also my

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Speaker 5: own podcast, Money and Wealth, and I talk about this

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Speaker 5: my pullpit of finance. You have a table, and on

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Speaker 5: the one side of the table is a capitalist and

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Speaker 5: they have a product and they want to extract money

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Speaker 5: from you. And on the other side of the table

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Speaker 5: is you, and you want that product and you don't

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Speaker 5: want to give them any money. And their job. People

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Speaker 5: listen to this now, don't get emotional. Whenever you make

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Speaker 5: an emotional decision, it's a bad one. The capitalist job

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Speaker 5: is to extract as much money as they can from

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Speaker 5: you while giving you the least amount of value. And

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Speaker 5: your job is to extract the most amount of value

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Speaker 5: while delivering the least amount of cash. And that dynamic

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Speaker 5: tension is natural negotiation. Now somebody says, well, how does

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Speaker 5: that apply to capitalism? Where you're a little village. You

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Speaker 5: don't think you're a capitalists, Go to a little village

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Speaker 5: in Africa, Go to little village in Latin America. Think

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Speaker 5: about when you're a last in Jamaica or wherever, and

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Speaker 5: you trying to buy them little chotsky or something somebody

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Speaker 5: and how much is this, Well it's two dollars. How

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Speaker 5: about a buck fifty? No, one ninety, Well how about

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Speaker 5: a buck sixty? Wow, I'll take it one seventy five.

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Speaker 5: I think it's gonna be worsehip. That's the negotiation and

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Speaker 5: you're you're in the midst of a capitalis transaction. You

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Speaker 5: go to the store, you go to CBS today where

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Speaker 5: the price has been predetermined because they've done market research.

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Speaker 5: And you want to buy a comb, and the comb

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Speaker 5: is nine bucks, and and they've pretty much, you know,

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Speaker 5: done the research approves that this comb. You pay nine

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Speaker 5: bucks for it, and you pick it up, and you

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Speaker 5: go to the register, and without any complaints at all,

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Speaker 5: you buy it. Why because you know that solving the

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Speaker 5: naps that autio hair and and the kinks in my

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Speaker 5: hair are worth at least twenty bucks, maybe a hundred bucks.

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Speaker 5: Maybe it's invaluable to you at that moment you want

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Speaker 5: to sew at least worth nine bucks. There you go,

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Speaker 5: right there. We do that all day every day and

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Speaker 5: don't think about it. We're all engaged in this system

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Speaker 5: of free enterprise and capitalism, but we don't understand it.

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Speaker 5: And is what we don't know that we don't know

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Speaker 5: this killing us. But we think we know. Some brothers

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Speaker 5: like I don't want to buy a house, buy buy

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Speaker 5: a house. The bank owns the house. I don't know.

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Speaker 5: If you don't pay, the bank will own your house.

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Speaker 5: But by the way, if I give you a loan

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Speaker 5: and you don't pay, I will own your house. Right,

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Speaker 5: So what you need to do is pay, and then

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Speaker 5: you get the a beit of it of appreciation, the

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Speaker 5: value above the debt, and you get the benefit that's

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Speaker 5: called equity, and you get the benefit of depreciation, which

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Speaker 5: is a tax strategy, and you get to write off

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Speaker 5: twenty years of a thirty year mortgage pavements against your

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Speaker 5: income on your tax bill, and you get to live

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Speaker 5: in it. Wealthy people want to save time and poor

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Speaker 5: people want to save money. Right, they try. We spend

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Speaker 5: all this time, you know, messing around trying to make

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Speaker 5: some money or save some money, or not pay that rent,

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Speaker 5: that light bill even though there's a rent notice on it,

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Speaker 5: and trying to wait till the last minute. You got

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Speaker 5: to pay the light bill. Whether it's Tuesday or Thursday,

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Speaker 5: you're gonna have to pay the light bill. Right. So, so,

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Speaker 5: but you're wasting time on this activity. I'd rather you

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Speaker 5: waste a little bit of my money, would waste a

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Speaker 5: minute of my time. I could give you more time.

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Speaker 5: I'll make more money. So you build wealth in your sleep.

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Speaker 5: You want to take that money and put it to work, compounding, right,

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Speaker 5: home ownership. We just talked about that, starting a business,

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Speaker 5: putting in money to work, starting a business. The easiest

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Speaker 5: example the stock market. There are three things that have

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Speaker 5: never gone down in American history American GDP Gross Domestic product,

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Speaker 5: the income of this country, the stock market in real

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Speaker 5: estate values. Now, somebody watching this will say, ah, I

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Speaker 5: got him, he's wrong. Doesn't he even know there was

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Speaker 5: a real estate recession. There was a recession in two

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Speaker 5: thousand and eight. Yeah, I know that, I know that.

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00:23:00,200 --> 00:23:03,200
Speaker 5: I know that real estate went up, it dipped, it's

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Speaker 5: called a recession, and then it corrected above the line.

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Speaker 5: And real estate I bought for eighty eight thousand dollars

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Speaker 5: is now worth three hundred thousand dollars. Really, the home,

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Speaker 5: the townhouse I bought for two hundred and twenty thousand

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Speaker 5: dollars in LA with a little bit of money, of

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Speaker 5: my money and a lot of bit of the bank's money.

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Speaker 5: So here you go, twenty percent cash down from me,

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Speaker 5: eighty percent finands by the bank, good debt, a little

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Speaker 5: bit of my money from the bank account into the

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Speaker 5: transaction compound it. And then when the real estate recession happened,

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Speaker 5: the value went down to one something one point eighty.

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Speaker 5: All my friends at sale John sale sales sale, That's

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Speaker 5: why they broke. I'm like, why would I sell? I

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Speaker 5: got I got to live someplace. H No, I think

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Speaker 5: I'll just hold on. I moved to Atlanta, rented that

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Speaker 5: place out to a police officer who didn't pay his

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Speaker 5: bill on time. I might add and uh bud. He

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Speaker 5: finally paid, and I forgot about it. Will five years

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Speaker 5: eight years later forget it was twenty sixteen. I go

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Speaker 5: to check on the property, called my broker out there,

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Speaker 5: my brother hey man, trying to sell his property. And

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Speaker 5: then I'm gonna buying something in Atlanta? What can I

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Speaker 5: get for it? Now? Mind? You bought it for two something,

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Speaker 5: so when I last I checked on, it was one

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Speaker 5: hundred and something of value. So I was underwater. He said, well,

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Speaker 5: I think you can get it. You can get seven

435
00:24:19,520 --> 00:24:24,040
Speaker 5: to fifty. I said, you don't mean seven to fifty dollars,

436
00:24:24,119 --> 00:24:27,239
Speaker 5: do you? What did did la just fall apart? No,

437
00:24:27,359 --> 00:24:31,440
Speaker 5: seven hundred and fifty thousand dollars almost passed out? It

438
00:24:32,000 --> 00:24:36,320
Speaker 5: hit It had literally triple in value from where more

439
00:24:36,359 --> 00:24:38,080
Speaker 5: than triple to value of what I paid for it.

440
00:24:38,520 --> 00:24:41,440
Speaker 5: That's what people with wealthy people do. Wealthy people use

441
00:24:41,480 --> 00:24:45,359
Speaker 5: money to make more money or use money to build wealth.

442
00:24:45,800 --> 00:24:48,960
Speaker 5: So so real estate has never gone down the stock market,

443
00:24:48,960 --> 00:24:51,920
Speaker 5: So go buy. Listen to this. I'm not telling you

444
00:24:52,000 --> 00:24:56,399
Speaker 5: what to buy. Whatever you're wearing, whatever you use, wherever

445
00:24:56,480 --> 00:25:00,440
Speaker 5: you go. And that's a publicly traded company. Go buy

446
00:25:00,440 --> 00:25:03,719
Speaker 5: an index or a stock with those in it, a

447
00:25:03,720 --> 00:25:05,560
Speaker 5: basket in it, and you don't have a lot of money,

448
00:25:05,640 --> 00:25:10,040
Speaker 5: do do do fractional ship. But if you're part of

449
00:25:10,080 --> 00:25:13,720
Speaker 5: the of the of the of the blue chip stock index,

450
00:25:14,400 --> 00:25:18,360
Speaker 5: those are the best performing companies in America. And they

451
00:25:18,359 --> 00:25:21,520
Speaker 5: are global companies. And if you lose, a billionaires losing

452
00:25:21,680 --> 00:25:24,440
Speaker 5: by the way, So it's a good bet. And and

453
00:25:24,720 --> 00:25:28,199
Speaker 5: and buy and don't sell. Just forget about it and

454
00:25:28,280 --> 00:25:31,280
Speaker 5: watch it compound over time. If you have a twenty

455
00:25:31,359 --> 00:25:34,360
Speaker 5: year window on your investment horizon and when you want

456
00:25:34,359 --> 00:25:37,360
Speaker 5: to retire or whatever, you're gonna have zero losses. It's

457
00:25:37,359 --> 00:25:39,760
Speaker 5: gonna go up, it's gonna go down, but over twenty years,

458
00:25:40,280 --> 00:25:44,240
Speaker 5: it's just gonna do this right on balance. And if

459
00:25:44,280 --> 00:25:49,679
Speaker 5: you like a company Walmart, Tarja, Target, if you like

460
00:25:49,720 --> 00:25:51,880
Speaker 5: a company, there's a good chance other people like it too.

461
00:25:52,400 --> 00:25:54,840
Speaker 5: And by the way, once you own one stock, you

462
00:25:54,880 --> 00:25:57,600
Speaker 5: get a right to the to the to get all

463
00:25:57,640 --> 00:26:03,320
Speaker 5: the financials. Yeah. All you imagine somebody bought one pencil

464
00:26:03,400 --> 00:26:06,280
Speaker 5: in your house and now they can go through every room,

465
00:26:06,480 --> 00:26:09,879
Speaker 5: in every drawer in your house. That's what When you

466
00:26:09,920 --> 00:26:15,200
Speaker 5: have one stock of Target or Walmart or Delta Airlines, whatever,

467
00:26:15,359 --> 00:26:18,240
Speaker 5: you now can go through every inch and cranny of

468
00:26:18,280 --> 00:26:20,600
Speaker 5: that company. You have a right to all their financials.

469
00:26:20,600 --> 00:26:23,040
Speaker 5: You are an owner and that powerful. That's sexy.

470
00:26:23,119 --> 00:26:25,080
Speaker 3: There was a study done by the SBAF. It's back

471
00:26:25,119 --> 00:26:26,680
Speaker 3: in twenty twelve, I believe it was the last time

472
00:26:26,720 --> 00:26:29,159
Speaker 3: they did it, and they said, eighty percent of our

473
00:26:29,200 --> 00:26:32,320
Speaker 3: businesses are in the bottom twenty percent of categories for

474
00:26:32,359 --> 00:26:36,560
Speaker 3: sales revenue. So we over index on barber shops, long

475
00:26:36,600 --> 00:26:40,080
Speaker 3: care companies, dry cleaners, et cetera. And so I wonder, like,

476
00:26:40,119 --> 00:26:43,080
Speaker 3: what does it take to get that black barber to say,

477
00:26:43,119 --> 00:26:45,000
Speaker 3: you know, instead of starting to shop on the corner,

478
00:26:45,240 --> 00:26:47,399
Speaker 3: I'm going to start thirty of these shops and do

479
00:26:47,480 --> 00:26:49,639
Speaker 3: it across the country. Like what does it take to

480
00:26:49,720 --> 00:26:50,920
Speaker 3: get us to think that way?

481
00:26:51,320 --> 00:26:54,040
Speaker 5: The Bible says, The Bible says, where there's no vision

482
00:26:54,040 --> 00:26:58,119
Speaker 5: that people perish. All right, so we needed again, we

483
00:26:58,119 --> 00:27:00,359
Speaker 5: need to go from civil rights in the street to

484
00:27:00,600 --> 00:27:05,520
Speaker 5: silver rights in the business suites. Look, this makes perfect

485
00:27:05,560 --> 00:27:07,359
Speaker 5: sense while we are where we are. Will why do

486
00:27:07,520 --> 00:27:11,800
Speaker 5: kids want to be rap stars, athletes and drug dealers

487
00:27:12,320 --> 00:27:13,200
Speaker 5: from our neighborhood.

488
00:27:13,280 --> 00:27:14,040
Speaker 3: That's what they see.

489
00:27:14,080 --> 00:27:17,840
Speaker 5: They're not dumb and they're not stupid. They're brilliant. They're

490
00:27:17,920 --> 00:27:23,639
Speaker 5: modeling what they see. They don't no one's talk to

491
00:27:23,680 --> 00:27:26,440
Speaker 5: them about why education matters to them. K through twelve,

492
00:27:26,800 --> 00:27:28,600
Speaker 5: they're like, why do I go do both of all

493
00:27:28,680 --> 00:27:31,680
Speaker 5: this when I can just go sell some drugs? Well,

494
00:27:31,760 --> 00:27:34,120
Speaker 5: selling drugs is prison, probation, parole, and death. But that's

495
00:27:34,119 --> 00:27:37,720
Speaker 5: a different conversation. They're seeing a media gratification. They're seeing

496
00:27:37,720 --> 00:27:40,600
Speaker 5: a connection to their aspirations. But no one's taking taking

497
00:27:40,760 --> 00:27:43,879
Speaker 5: education and plugging it into a socket called aspiration and saying,

498
00:27:44,080 --> 00:27:46,520
Speaker 5: if you do this, you can become an engineer. If

499
00:27:46,560 --> 00:27:48,679
Speaker 5: you do this, you can go into AI. If you

500
00:27:48,720 --> 00:27:50,959
Speaker 5: do this, you can become a gamer. If you do this,

501
00:27:51,119 --> 00:27:52,919
Speaker 5: you become a coder. If you do this, you can

502
00:27:52,960 --> 00:27:56,360
Speaker 5: become a real estate mate. We a real estate magnet.

503
00:27:56,880 --> 00:28:02,040
Speaker 5: We have a farm club for professional sports. There used

504
00:28:02,040 --> 00:28:04,000
Speaker 5: to be a farm club for the arts, used to

505
00:28:04,000 --> 00:28:05,680
Speaker 5: be art class, a lot of stuff. But there's still

506
00:28:05,680 --> 00:28:08,560
Speaker 5: an informal farm club for that, but certainly professional sports

507
00:28:08,600 --> 00:28:12,080
Speaker 5: from middle school. But there's no farm club for business

508
00:28:12,160 --> 00:28:14,239
Speaker 5: and the things that's driving the economy. And so you

509
00:28:14,280 --> 00:28:17,200
Speaker 5: look at the role models a jay Z or whoever

510
00:28:17,359 --> 00:28:21,800
Speaker 5: people admire, they have a staff of thirty people. The

511
00:28:21,880 --> 00:28:24,879
Speaker 5: biggest celebrities that you want to admire, they have a

512
00:28:24,920 --> 00:28:29,639
Speaker 5: staff of five people, four people, ten people, maybe thirty

513
00:28:29,680 --> 00:28:34,480
Speaker 5: people that's running their brand. You can't scale the brand.

514
00:28:34,600 --> 00:28:37,240
Speaker 5: This is only one jay Z. Maybe I'm not picking

515
00:28:37,240 --> 00:28:39,960
Speaker 5: on jay Z. There's only one Ti or Killer Mike

516
00:28:40,040 --> 00:28:43,440
Speaker 5: who I know, and you can't. And there's only so

517
00:28:43,480 --> 00:28:45,800
Speaker 5: many employees that are able to sit in their balance

518
00:28:45,840 --> 00:28:49,440
Speaker 5: sheet given that is one the product is an individual. Right.

519
00:28:49,880 --> 00:28:52,800
Speaker 5: So the things that we've tried to get forty million

520
00:28:52,800 --> 00:28:59,880
Speaker 5: people into to an economic model designed for three thousand people, right,

521
00:29:00,080 --> 00:29:03,000
Speaker 5: and even those jobs last three to five years on average.

522
00:29:03,080 --> 00:29:06,840
Speaker 5: Celebrity three to five years, a ball player three to

523
00:29:06,960 --> 00:29:12,120
Speaker 5: five years, drug dealer probably less than that. Right. And

524
00:29:12,160 --> 00:29:14,800
Speaker 5: look at Jews, just the opposite, seven and a half

525
00:29:14,800 --> 00:29:19,120
Speaker 5: million Jews, but they're pursuing forty million occupations, and they've

526
00:29:19,200 --> 00:29:21,560
Speaker 5: understand that you need to write the check, not just

527
00:29:21,680 --> 00:29:24,560
Speaker 5: cash it, be the owner. So when you discriminate against me,

528
00:29:24,760 --> 00:29:28,080
Speaker 5: you just discriminate against the guy who owns the building

529
00:29:28,120 --> 00:29:33,680
Speaker 5: that you're actually talking crap in. So what we need

530
00:29:34,080 --> 00:29:36,120
Speaker 5: is a long answer to your question. What we need

531
00:29:36,200 --> 00:29:39,960
Speaker 5: is a business plan. What we need is a business plan,

532
00:29:40,400 --> 00:29:43,240
Speaker 5: and we need role models who start with what you

533
00:29:43,320 --> 00:29:47,000
Speaker 5: just said. Why am I just why don't I have

534
00:29:47,040 --> 00:29:49,320
Speaker 5: too much month of the end in my money? Why?

535
00:29:49,320 --> 00:29:53,440
Speaker 5: No matter how hard I work, I'm broke because you've

536
00:29:53,440 --> 00:29:56,280
Speaker 5: got one operation and you're trying to make money and

537
00:29:56,320 --> 00:29:58,640
Speaker 5: not trying to build wealth. You need to you build

538
00:29:58,640 --> 00:30:02,600
Speaker 5: wealth in your sleep. Compounding. Compounding can mean different additional locations.

539
00:30:03,000 --> 00:30:05,160
Speaker 5: So maybe I need to model success. Maybe I need

540
00:30:05,160 --> 00:30:08,000
Speaker 5: twenty locations, maybe I need ten. I can't. And by

541
00:30:08,080 --> 00:30:10,400
Speaker 5: the way, what's the strategy. It's gonna blow your your

542
00:30:10,480 --> 00:30:12,720
Speaker 5: viewer's mind when I say, listeners, listeners mind? When I

543
00:30:12,760 --> 00:30:15,920
Speaker 5: say this, why do I want to have three locations,

544
00:30:15,960 --> 00:30:18,120
Speaker 5: ten twenty to sell it?

545
00:30:18,320 --> 00:30:20,440
Speaker 3: That's right, that's absolutely correct to sell it.

546
00:30:20,680 --> 00:30:23,680
Speaker 5: Oh but John, then it's not a black business. No,

547
00:30:23,840 --> 00:30:29,120
Speaker 5: it's a successful one. It's called an exit strategy, right, right, right,

548
00:30:29,200 --> 00:30:34,000
Speaker 5: So percent of black businesses don't have an employee because

549
00:30:34,040 --> 00:30:37,360
Speaker 5: we're emotional about it, because we're there're self employment projects.

550
00:30:37,400 --> 00:30:39,680
Speaker 5: Because we have to understand that this is about growing

551
00:30:39,720 --> 00:30:42,760
Speaker 5: something you can sell, that you can merge, that you

552
00:30:42,840 --> 00:30:45,040
Speaker 5: can that you know, it's not a black business, it's

553
00:30:45,080 --> 00:30:47,840
Speaker 5: a green one. You don't see Jewish people and white

554
00:30:47,840 --> 00:30:50,480
Speaker 5: people have said white owned business. You know, you don't

555
00:30:50,480 --> 00:30:53,680
Speaker 5: see Jews, Latino people, Latino own business, big sign in

556
00:30:53,720 --> 00:30:56,240
Speaker 5: the one in the wall. Let's you know, you know

557
00:30:56,560 --> 00:31:00,760
Speaker 5: Asian own business. Right, it's only black people your own business.

558
00:31:00,800 --> 00:31:04,160
Speaker 5: I know it's black. I see you. Right. You want

559
00:31:04,240 --> 00:31:07,600
Speaker 5: every person who with a dollar bill, a legit one

560
00:31:08,040 --> 00:31:10,880
Speaker 5: to be your customer. Right, And so we got to

561
00:31:10,920 --> 00:31:12,719
Speaker 5: take the emotion out of it. We need different kind

562
00:31:12,760 --> 00:31:15,240
Speaker 5: of role models. Look, why am I doing what I'm

563
00:31:15,280 --> 00:31:19,719
Speaker 5: doing to create plumbing? There is no there is no

564
00:31:20,480 --> 00:31:22,600
Speaker 5: one of the videos has got four million, five million

565
00:31:22,960 --> 00:31:25,400
Speaker 5: views that I did. Somebody just put up this little clip.

566
00:31:25,440 --> 00:31:27,000
Speaker 5: I dide able to speak of the Milking conference where

567
00:31:27,040 --> 00:31:28,880
Speaker 5: I said I want to be the Federal Reserve of

568
00:31:28,920 --> 00:31:32,160
Speaker 5: the hood. Yeah, And to me it was common sense.

569
00:31:32,480 --> 00:31:34,960
Speaker 5: I wasn't. I wasn't trying to get attention. I was

570
00:31:35,200 --> 00:31:36,760
Speaker 5: I just thought it was common sense. I want to

571
00:31:36,760 --> 00:31:39,040
Speaker 5: become the federal Reserve of the hood. I want to

572
00:31:39,080 --> 00:31:46,440
Speaker 5: create an economic infrastructure, a financial access point nationwide where

573
00:31:46,440 --> 00:31:51,160
Speaker 5: we can come in operationalize our untapped human potential at scale.

574
00:31:51,440 --> 00:31:54,040
Speaker 5: Get our credit score up thirty to fifty to one

575
00:31:54,120 --> 00:31:56,720
Speaker 5: hundred points, get our debt. You know, black people have

576
00:31:56,760 --> 00:31:59,520
Speaker 5: the largest, sorry of the lowest credit score on average

577
00:31:59,520 --> 00:32:02,160
Speaker 5: in the nation. The average credit score for black people

578
00:32:02,240 --> 00:32:06,680
Speaker 5: is less than six twenty. Not poor people, all of us.

579
00:32:06,840 --> 00:32:08,480
Speaker 5: And so when we get up in the morning, will

580
00:32:08,560 --> 00:32:10,880
Speaker 5: and we think that the bank is discriminating against us,

581
00:32:11,560 --> 00:32:14,360
Speaker 5: and they might be. It might be a racist person

582
00:32:14,440 --> 00:32:18,000
Speaker 5: at the bank who don't like you, who discriminated against you.

583
00:32:18,080 --> 00:32:20,360
Speaker 5: That might be the case. But if your credit score

584
00:32:20,440 --> 00:32:22,360
Speaker 5: is five fifty, they don't want to work very hard

585
00:32:22,400 --> 00:32:25,200
Speaker 5: at it. The answer is just no, right, you're just

586
00:32:25,280 --> 00:32:27,760
Speaker 5: a bad credit risk. You don't pay your bills. So

587
00:32:27,800 --> 00:32:30,320
Speaker 5: we get the credits grow up fifty to one hundred points,

588
00:32:30,320 --> 00:32:32,680
Speaker 5: so you're in the high sixes. God forbid, you get

589
00:32:32,680 --> 00:32:36,120
Speaker 5: the seven. That's the Nirvana seven hundred. Get your debt

590
00:32:36,160 --> 00:32:38,800
Speaker 5: down thirty eight hundred dollars for somebody making forty eight

591
00:32:38,800 --> 00:32:41,160
Speaker 5: thousand dollars. These store our Hope and side models at

592
00:32:41,320 --> 00:32:43,840
Speaker 5: open site locations and operation Ope three hundred dollars across

593
00:32:43,840 --> 00:32:46,560
Speaker 5: the country. We get your savings up two thousand dollars

594
00:32:46,560 --> 00:32:48,760
Speaker 5: on average. And when we do that, we make you

595
00:32:48,840 --> 00:32:51,800
Speaker 5: bank qualified. So the bank just wants to say yes.

596
00:32:51,840 --> 00:32:54,440
Speaker 5: And if you want to test my theory, go to

597
00:32:54,480 --> 00:32:57,240
Speaker 5: the computer at midnight when the bank's not even open

598
00:32:58,120 --> 00:33:00,560
Speaker 5: and you have a seven to twenty credit score and

599
00:33:00,640 --> 00:33:02,920
Speaker 5: type in an application for a credit card or a

600
00:33:03,040 --> 00:33:04,880
Speaker 5: mortgage or cardinals and watch that approval.

601
00:33:05,000 --> 00:33:05,960
Speaker 1: Get it quick.

602
00:33:06,280 --> 00:33:11,360
Speaker 5: Quick, change the game, change the business plan, change your minds,

603
00:33:11,640 --> 00:33:15,800
Speaker 5: change your model, become bilingual, learn financial literacy for all.

604
00:33:15,920 --> 00:33:18,240
Speaker 5: It's the new civil rights issue of this generation. We

605
00:33:18,320 --> 00:33:20,200
Speaker 5: have got to be as obsessed with this as we

606
00:33:20,200 --> 00:33:21,120
Speaker 5: were the right to Volks.

607
00:33:22,080 --> 00:33:24,720
Speaker 2: Once again, thank you for tuning into the Blackfect Podcast Network.

608
00:33:24,800 --> 00:33:26,800
Speaker 2: Seeing you in twenty twenty five for more great moments

609
00:33:26,840 --> 00:33:27,880
Speaker 2: from your favorite podcast