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Speaker 1: Welcome to money Making Conversations.

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Speaker 2: It's to show that she is the secrets of success

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Speaker 2: experience firsthand by marketing and Brandon expert Rashan McDonald. I

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Speaker 2: will know he's giving me advice on many occasions. And

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Speaker 2: in case you didn't notice, I'm not broke. You know

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Speaker 2: he'll be interviewing celebrity CEOs, entrepreneurs and industry.

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Speaker 1: Decision make because it's what he likes to do. It's

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Speaker 1: what he likes to share.

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Speaker 2: Now it's time to hear from my man, Rashan McDonald

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Speaker 2: money making Conversations.

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Speaker 3: Here we go.

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Speaker 1: I am going to be talking about how to be

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Speaker 1: a successful business owner. Well, guess what I have failed?

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Speaker 1: I have done so many mistakes and I'm gonna share

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Speaker 1: some of those mistakes. Let's get started here. I'm gonna

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Speaker 1: ask some questions about it.

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Speaker 4: This.

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Speaker 1: Has anybody ever thought about you can raise your hand,

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Speaker 1: You can raise your hand, and your car driving you

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Speaker 1: just raise your eyebrow. Thought about starting a business? Why

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Speaker 1: didn't you do it? Have you ever thought about hiring

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Speaker 1: people for your business? Hired the wrong people? Have you

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Speaker 1: ever thought about hiring relatives and guess what you hired

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Speaker 1: those relatives? Have you ever hired people that you were

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Speaker 1: getting a good deal on them. Oh they got Oh

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Speaker 1: they cheap. Oh that slary fits right into my budget.

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Speaker 1: But they don't have the experience. Am I am I?

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Speaker 1: Am I tapping into the right lanes with some of

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Speaker 1: y'all out there. Or how about starting your business and

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Speaker 1: you don't even have a budget. It's just a good idea?

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Speaker 1: Am I tapping into anybody out there? Yet? Okay? How

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Speaker 1: about this? How about this? You start a business with

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Speaker 1: somebody you don't know? How about that? How about how

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Speaker 1: about this? You start a business? You know, I'm from Texas.

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Speaker 1: So they say you can start a business with a handshake,

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Speaker 1: that's what will be contractual. I've done that before. Yeah,

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Speaker 1: you don't make it. How to be a successful business owner?

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Speaker 1: That's a that's a bold statement to for me to

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Speaker 1: say marketing and branding. Have a company called thirty and

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Speaker 1: fifteen Media, Inc. Based in Atlanta, Georgia. I started it

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Speaker 1: as an idea and I just started hiring people. Were

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Speaker 1: they the best qualified people?

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Speaker 5: No?

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Speaker 1: In hindsight, no, But I knew them. I knew them,

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Speaker 1: they knew me. We had long term relationships. They could

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Speaker 1: do certain things, and I hired them. That's the number

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Speaker 1: one problem with most people who fail in this business

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Speaker 1: is they hire people just because they're close to them.

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Speaker 1: They hire people because they make them feel comfortable to

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Speaker 1: hire people because they're just right there and they're available

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Speaker 1: to be hired. That's the number one mistake and the

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Speaker 1: number two mistake. Do you have time for your business? Wow?

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Speaker 1: You know I always tell people this, I get up

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Speaker 1: at four thirty money to do fraud. That's one time

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Speaker 1: four thirty am I get up and people always going

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Speaker 1: whoohoo four thirty when you're doing it front thirty. I

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Speaker 1: was fortunate to give a speech uh I was at

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Speaker 1: It was an area in Atlanta called Thoronias, right outside

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Speaker 1: of Atlanta Georgia Chamber of Commerce, and I was speaking

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Speaker 1: to him. That's one of the reasons they brought me over.

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Speaker 1: It was to speak about how to be a successful

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Speaker 1: business owner. And when you're speaking to tp people about

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Speaker 1: being a successful business owner, one thing you have to

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Speaker 1: admit that is that you made mistakes. I opened a

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Speaker 1: comedy club in Houston, Texas called Hip Hop Comedy Style.

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Speaker 1: I got in business with a person I didn't even know. Well,

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Speaker 1: guess what, he was a stand up comic too, So

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Speaker 1: he liked telling jokes. I liked telling jokes. Yeah, I

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Speaker 1: guess he make a good business part. So that's how

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Speaker 1: we got in. That's like you. That's like you like

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Speaker 1: to eat chicken, and you know somebody who makes good chickens,

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Speaker 1: So y'all just gonna go into chicken business.

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Speaker 3: Same same thing, same thing.

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Speaker 1: I didn't know his likes, his dislikes. I didn't know

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Speaker 1: his work happens. I didn't know if he like getting

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Speaker 1: up early but he like staying late. Didn't even have

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Speaker 1: an idea of how to run a business. That's how

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Speaker 1: I got in business. But the other side of that

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Speaker 1: is that it became a very popular comedy club. Lines

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Speaker 1: out the door. I just to do a show on Thursday.

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Speaker 1: Tickets are gonna sell on Monday. They were sold out

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Speaker 1: in the hour. That's how popular was the room. Seats

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Speaker 1: like three hundred and fifty people, a line out the

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Speaker 1: door on Thursday show showtime. I hit stage at eight

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Speaker 1: nine o'clock. People wouldn't go in the room until it

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Speaker 1: was nine. Eight thirty was an empty room. They didn't

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Speaker 1: want to see the other comics. I walk in nine

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Speaker 1: o'clock room packed eight thirty to eight fifty five, room

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Speaker 1: was empty, nine o'clock packed. We were making money. But

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Speaker 1: guess what happens when you start making money? I forgot

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Speaker 1: You pay taxes. You pay taxes on tickets, you pay

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Speaker 1: taxies on liquor, so those little things. So all that

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Speaker 1: money that you're making, somebody else want a piece of it.

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Speaker 1: So you can't look at ten dollars as a real

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Speaker 1: ten dollars. But because I didn't have a budget, because

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Speaker 1: I didn't take time to understand how to run a business,

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Speaker 1: I was just doing all the wrong things. So I'm

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Speaker 1: sure a lot of you guys out there, ladies, I think,

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Speaker 1: because women are the fastest growing entrepreneurial part in this company,

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Speaker 1: especially black women, y'all just running things now in a

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Speaker 1: good way, opening up business. I'm sure you opening up

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Speaker 1: business a lot more than me, better than me. So

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Speaker 1: I was making money but couldn't understand how selling out.

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Speaker 1: But I can't pay myself, so I was just working

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Speaker 1: for free because I didn't have Because you what you

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Speaker 1: can't do, I'm tell you something about this. The biggest

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Speaker 1: mistake in a business. You can't open a business and

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Speaker 1: then try to sell the budget, because now you're playing

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Speaker 1: catch up because you can't justify because you didn't have

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Speaker 1: a budget at the beginning. You'll know why you have

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Speaker 1: all these people hanging around you getting checks for you

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Speaker 1: or wanting to get checked for you. Then you understand

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Speaker 1: why you fail. So when you're making money as a

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Speaker 1: business owner, you can't be successful because of the reason

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Speaker 1: that you try to be successful because you never had

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Speaker 1: a plan. That's the numb more reason we fail. And

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Speaker 1: the other number one reason we fail is do you

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Speaker 1: have time for your business. I can't tell you how

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Speaker 1: many people get mad because the store. After a while,

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Speaker 1: they open their business. It opens a tent, but they're

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Speaker 1: getting there at the same time the customer should get there.

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Speaker 1: They getting mad because the customers got their own time,

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Speaker 1: not knowing they got a restaurant here, They got to

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Speaker 1: pre set up everything the customers. YEA ever been in

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Speaker 1: a restaurant. You've been in a restaurants where oh, we

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Speaker 1: don't have that on the menu today.

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Speaker 3: Doesn't that make you mad?

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Speaker 1: Oh we ran out? How are you gonna run out

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Speaker 1: of something that's on your menu? Didn you plan to

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Speaker 1: make this? Then you plan this, make this a part

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Speaker 1: of your regular I've been I've been in restaurants where

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Speaker 1: they have actually used a marker to strike through things

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Speaker 1: that they don't do their menu no more. Now I'm

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Speaker 1: supposed to come back for that. Here's a little note

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Speaker 1: now about business. It's called consistency. I always tell people

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Speaker 1: that little I'm just using Target as an example. If Target,

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Speaker 1: if you drove by Target at night and they sign

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Speaker 1: wasn't on, you think they'd be closed. So if like

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Speaker 1: on Monday, Tuesday, and Wednesday, Target sign is on, but Thursday,

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Speaker 1: Friday and Saturday was off, you think they'll be out

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Speaker 1: of business, or you stop trusting them so you won't

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Speaker 1: go there or put them on the list, and you

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Speaker 1: actually started spreading rumors, negative rumors about Target or business

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Speaker 1: like Target. And that's what happens if we're inconsistent. So

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Speaker 1: if you if you open the opening a business and

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Speaker 1: you're saying you doing things, you gotta be there to

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Speaker 1: do it, and everybody sees the profit line, you know,

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Speaker 1: they buy franchise. You know they want to our franchise

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Speaker 1: like Chick fil A or jagon Bars or McDonald's or

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Speaker 1: they heard or Bojangles. That's that's a real hot franchise

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Speaker 1: right now that people are buying it still requires work.

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Speaker 1: And so what these franchises try to do they try

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Speaker 1: to train you. So you're gonna pay a fee, but

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Speaker 1: they just don't let you just run out there. They're

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Speaker 1: gonna find out if you have time too to run

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Speaker 1: that franchise, because they're applying the same business principles that

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Speaker 1: I am doing in this conversation I'm having with you

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Speaker 1: right now, the conversation of being able to sit down

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Speaker 1: and apply to you a makeshift plan, a make sense

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Speaker 1: plan of how you can be successful. So when you

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Speaker 1: buy a franchise, what they do is they bring you in,

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Speaker 1: they sit you down, and they have you work with

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Speaker 1: somebody who has your best interests. Listen to me, now,

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Speaker 1: your best interest because what they don't want to do

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Speaker 1: is put a franchise out there and it clothes because

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Speaker 1: it makes them look bad. So now if you don't

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Speaker 1: have time, but you heard, did these franchises make a

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Speaker 1: lot of money? Then they gonna have a problem with you.

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Speaker 1: Then you're gonna get mad at them because they telling

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Speaker 1: you why you're not there to open up their business

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Speaker 1: on time. It guess what they gonna do after a while,

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Speaker 1: they'll come take their license. Then what you're trying to

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Speaker 1: do now, you're trying to suit. Now you huddle up

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Speaker 1: with your friends and family, all you in the corners,

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Speaker 1: just cussing and fussing like they've done you wrong. But

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Speaker 1: you're the one didn't live up to the standards. They have, copyright,

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Speaker 1: they have, they have. You just can't let anybody in

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Speaker 1: the kitchen. If you making donuts, you just can't let it.

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Speaker 1: You just can't shoot a video back there for TikTok

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Speaker 1: making donuts back there, making cakes back there.

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Speaker 3: You mad.

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Speaker 1: Because that's their recipes. Everybody can't see this because you.

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Speaker 3: Don't know the rules.

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Speaker 1: You want to try to make your own rules. That's

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Speaker 1: why you want to be successful. I'm gonna tell you

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Speaker 1: why I was not successful at my comedy club. Even

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Speaker 1: though lines out the door. You can look at up

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Speaker 1: Hip Hop Comedy Stop nineteen ninety two to nineteen ninety four, Houston,

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Speaker 1: Texas one of the most popular comedy clubs in the country.

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Speaker 1: Everybody came through the Joe tur Cedric did Detainer some more.

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Speaker 1: All the big stars came through there, Steve Harvey, everybody

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Speaker 1: came to that club, made no money, made no money,

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Speaker 1: broke even because I didn't have a budget because I

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Speaker 1: didn't know what I was doing. I was in business

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Speaker 1: with a person I didn't know, and he had a

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Speaker 1: full time job. So guess what he kept saying, Hey, man,

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Speaker 1: you got it, you got it, you got it. Well,

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Speaker 1: guess what I got tired of being the person who

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Speaker 1: got it. Didn't have family? WHOA When we come back,

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Speaker 1: we're gonna talk about hiring family. Who hire family? So

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Speaker 1: that's a big a mistake you can make hiring family now,

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Speaker 1: especially when the mama, when the mama told you to

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Speaker 1: hire him. This is Sean McDonald Marketing and Brandy expert

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Speaker 1: telling you how to be a successful business owner. We've

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Speaker 1: already covered have time for your business. Now we're gonna

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Speaker 1: do you how relatives because you loved them. We'll be

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Speaker 1: right back for boy money making conversation. Masks, clams, don't

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Speaker 1: go the where y'all. I just got started.

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Speaker 5: Who We'll be right back with more money making conversations

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Speaker 5: Masterclass with Rushawn McDonald. You are now tuned into the

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Speaker 5: money making Conversations.

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Speaker 6: Minute of Inspiration with Rashawn McDonald.

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Speaker 7: Hollywood super producer Will Packer has produced films that have

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Speaker 7: earned more than one billion dollars at the box Office.

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Speaker 7: Will Packer tells me why marketing his brand as a

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Speaker 7: producer wasn't normal in Hollywood.

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Speaker 8: Well, when I came in as a producer, I knew

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Speaker 8: how important it was to connect with an art. That

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Speaker 8: really started with my journey at FAM You because I

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Speaker 8: made my first film project, which was Chocolate City, while

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Speaker 8: I was still an undergraduate at Family, I was a junior.

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Speaker 8: We shot Chocolate City, this a little bitby movie, and

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Speaker 8: in order for that family to be success, so I

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Speaker 8: had to go out to my audience, my core audience,

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Speaker 8: and I realized I needed to go out and explain

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Speaker 8: to that audience why they should care about this family.

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Speaker 8: And that really started something that I still do to

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Speaker 8: this day, which is going out and trying to touch

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Speaker 8: people with every project that I have.

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Speaker 7: If you want to hear this full interview with Will Packer,

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Speaker 7: visit money Making Conversation dot com.

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Speaker 5: Now let's return to Money Making Conversations Masterclass with Rashaan McDonald.

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Speaker 1: Hi, this is Rashan McDonald. I'm telling everybody this is

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Speaker 1: my opinion. It's not the opinion the station you're listening to.

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Speaker 1: This Rushan McDonald just pouring his soul lout on this

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Speaker 1: show today a little bit. I'm gonna start doing this

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Speaker 1: more off. I like this. I know I'll have great guests,

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Speaker 1: but I think you guys need to hear. How did

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Speaker 1: I become the person I had? I became, I've become

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Speaker 1: and I will continue to become. How to be a

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Speaker 1: successful business owner? Business owner is the topic? Maris, How

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Speaker 1: you doing? My friend Morris is underline talk to me,

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Speaker 1: march Is Rushan mcgonn speaking. How you doing?

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Speaker 4: 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? So I wanted to find out if you have

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Speaker 4: any recommended sources where we can learn how to properly

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Speaker 4: budget for a business. I know, of course you can

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Speaker 4: google and things like that, but are there any resources

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Speaker 4: that you specifically recommend to help us properly establish a

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Speaker 4: budget for our business?

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Speaker 1: Absolutely? Call it small business Administration. They're in every major city,

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Speaker 1: and please go to them. Because when I opened my

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Speaker 1: comedy club, I went there and when I went there,

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Speaker 1: and I'm just using a club for an example. If

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Speaker 1: they tell you, if you can tell them your club

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Speaker 1: is three thousand square feet, they'll tell you how many

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Speaker 1: table chairs you need. They'll tell you how many classes

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Speaker 1: you need. They'll tell you everything because they have books.

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Speaker 1: And then they have another part called Score. And Score

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Speaker 1: is made up of retired executives, people who are entrepreneurs,

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Speaker 1: people who have been in the business successful and they

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Speaker 1: can mentor you. They can mentor you so you can

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Speaker 1: ask these honest questions. It's called Score, and it's called

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Speaker 1: small Busines this administration. And believe me, I tell people

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Speaker 1: about this all the time. Do not step out there

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Speaker 1: dreaming without a plan, because if you dream without the plant,

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Speaker 1: it's gonna come and slap you in the face and

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Speaker 1: wake you up and it will be a nightmare when

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Speaker 1: you wake up. I walk up into a nightmare. I

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Speaker 1: kid you not, Morris. I was making money and I

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Speaker 1: never saw none of it because I didn't have a budget.

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Speaker 1: I didn't understand who I was in business with. And

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Speaker 1: guess what. In the end, I hired my relative and

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Speaker 1: guess what, they had full time job, so they will

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Speaker 1: not commit it to my dream because they had to

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Speaker 1: get back to work the next day. So Small Business

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Speaker 1: Administration SBA, and it's called Score, Like you score a

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Speaker 1: touchdown those two organizations. You can get it through Small

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Speaker 1: Businessmen SBA right here in Georgia. Is also in Texas.

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Speaker 1: It's also in New York. It's also any major state,

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Speaker 1: any major city has it. I would advise you to

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Speaker 1: call them and guess what. It's free.

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Speaker 4: Oh excellent, that's even better.

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Speaker 1: Well, good luck, my friend. Thank you for calling them

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Speaker 1: money make comings in hope you got something out of

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Speaker 1: the call. Thank you, my friend, Angela. How you doing,

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Speaker 1: I'm good?

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Speaker 6: Thanks taking my call.

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

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Speaker 6: I would love I appreciate you sharing your your failures

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Speaker 6: because I think that help sets the stage for me

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Speaker 6: going into acquiring a business. So yeah, please just continue

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Speaker 6: to share some of the lessons.

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Speaker 4: Learned because I'm learning a lot. Don't hire your family.

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Speaker 6: Plan your work and work well, I tell.

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Speaker 1: You them them. It's higher I hire your family, though,

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Speaker 1: because I don't want to get all family members of

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Speaker 1: bad reputation. Now, do not hire your families. If your

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Speaker 1: mama told you to.

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Speaker 4: Hire okay, okay.

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Speaker 1: Don't hire them that way. Don't hire your family out

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Speaker 1: of love. Okay, those two things. Now, if your families qualified,

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Speaker 1: they've done the work, they will put in the work

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Speaker 1: they're hired, you treat them like here's the thing I

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Speaker 1: would tell people. You know, if you hire a family member,

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Speaker 1: they should have the same qualifications and put out the

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Speaker 1: same effort of somebody you would not know that you

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Speaker 1: wanted to hire for that same position. But if you're

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Speaker 1: bringing them in and you loan the qualifications, you will

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Speaker 1: lawn the work ethic. You will lower the responsibility for

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

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Speaker 1: that job three times. So why do you expect that

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Speaker 1: person to be effective when you need to work forty

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Speaker 1: hours a week. He's it, I'm gonna roll here. I

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Speaker 1: gotta tell you something else. If you hire somebody, then

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Speaker 1: they start changing the rules on how they work.

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Speaker 3: You know what I'm saying.

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Speaker 1: You see, I'm very clear and when I hire people,

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Speaker 1: and you should be very clear because you send a

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Speaker 1: letter to them outlining the job description, you both agree

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Speaker 1: on the salary. After a couple of weeks, they started

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Speaker 1: they start coming in and making an excuse you like, well,

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

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Speaker 1: you tell me about that when.

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Speaker 6: I hide you, Okay.

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Speaker 1: You tell me about that. Or I gotta leave work

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Speaker 1: early because of traffic. Who you tell me about that?

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Speaker 1: When I hired you? Though? So see what happens is

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Speaker 1: you have to be able to see a certain question

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Speaker 1: you can't ask when you hire people. But if somebody

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Speaker 1: ubers to the interview, I wouldn't hire m h Okay, you.

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Speaker 6: Lay the foundation straight from the beginning.

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Speaker 1: But of course you know there's certain questions you cannot

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Speaker 1: ask when you ask, but you have to have common

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Speaker 1: sense and whole approach. If you should ask somebody where

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Speaker 1: they live. You know, my my company up in Alpharetta.

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Speaker 1: Now anybody down there by the airport, I have to

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Speaker 1: question whether or not they can come to my job

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Speaker 1: on a regular basis. I just have to question that

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Speaker 1: because I know there's heavy traffic and morning and an

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Speaker 1: afternoon and my jobs eight to five. So I don't

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Speaker 1: care how much they say they want the job. I

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Speaker 1: have to do common sense realize I may be compromising

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Speaker 1: my business because guess what happens. They're gonna come in

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Speaker 1: and start changing the rules with traffic, family issues, you know,

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Speaker 1: and then then they're gonna say something to you. They're

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Speaker 1: really gonna make you mad. You know, your job kind

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Speaker 1: of far, but.

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Speaker 4: You know all that.

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Speaker 1: But you knew all that when you hire that person,

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Speaker 1: because guess what they told you where they lived, but

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Speaker 1: you're ignored it. So Angela, thank you for calling. These

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Speaker 1: are some of the little things. And I'm not finished,

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Speaker 1: So keep your keep your radio on because I got

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Speaker 1: more to talk about. Keep your podcast with all that.

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Speaker 4: Guess I will.

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Speaker 1: Now here's the problem that a lot of people have

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Speaker 1: when they open the business. This I'm talking the business

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Speaker 1: owner's talking the entrepreneurs. Listen to me. Parking. I don't

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Speaker 1: know why people think they can just open up, open

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Speaker 1: up a business and not worry about parking. I had

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Speaker 1: a comedy club, y'all. See I see that comedy club

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Speaker 1: taught me a lot, y'all. I had no parking. All

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Speaker 1: my parking was on the streets. Out there on the streets,

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Speaker 1: three hundred people cars parked out down the street, up

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Speaker 1: and down the streets all up. Boy, I was popular, though,

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Speaker 1: But guess what happens when you just parking any kind

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Speaker 1: of wall, any kind of way, any kind of place.

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Speaker 1: Bad things start happening. Bad people start showing up, start

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Speaker 1: busting in car windows, So people would leave my comedy shows,

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Speaker 1: come back in over sewn my car being broken into

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Speaker 1: so what So then my insurance got to cover that,

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Speaker 1: So suddenly my insurance starts going up because I got

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Speaker 1: a business. Beautiful building, fantastic no parking though, But I

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Speaker 1: ignored the no parking issue because guess what, I fell

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Speaker 1: in love with the building. So I had to hire

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Speaker 1: people to walk up and down the streets to stop

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Speaker 1: people from busting into cars. Now you see why I

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Speaker 1: wasn't making no money when you make all these ignorant decisions,

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Speaker 1: no budget in business. Somebody didn't know by the leasing

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Speaker 1: the building for two years with no parking ru I'm

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Speaker 1: gonna close this out about this person you should never

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Speaker 1: ever hire. Do not hire inexperience employees because they are cheaper.

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Speaker 1: I'm just let that soak in a minute. Do not

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Speaker 1: hire inexperience employees because they are cheaper. One they have

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Speaker 1: no leadership abilities. Two they need constant supervision. Three they

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Speaker 1: do not understand the position and the company and will

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Speaker 1: not help you win. W I in capital letters long term.

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Speaker 1: And I'm gonna put a little quote around here. I

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Speaker 1: said something by relatives. Do not hire friends. I've done that.

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Speaker 1: It has burnt me. When it came time to make

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Speaker 1: a decision, they reminded me that I did them wrong.

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Speaker 1: They reminded me that they were the victim. They reminded

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Speaker 1: me that I didn't know what I was doing, and

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Speaker 1: you exactly right because I was running a business based

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Speaker 1: on friendship, no budget, family and a partner I didn't know.

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Speaker 1: You cannot win like that, Ladies and gentlemen, as you

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Speaker 1: listen to me talk about marketing and branding and how

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Speaker 1: to be a successful business owner. The bottom line, it's

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Speaker 1: on you look in the mirror and make a decision

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Speaker 1: that benefits you, your family and your future. This is

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Speaker 1: another episode of Money Making Conversation Masterclass. I want to

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Speaker 1: thank always, thank y'all every week for listening, and I

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Speaker 1: just want to share this moments with you today. I'm

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Speaker 1: gonna do this once a month, share some of my

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Speaker 1: personal story, my personal background as to why I can

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Speaker 1: talk like this because I've made mistakes and you've heard

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Speaker 1: the people who called in. I answered that question because

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Speaker 1: I know where to go now and I will be

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Speaker 1: able to help you as long as you listen to

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Speaker 1: me every time I open my mouth and bring your

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Speaker 1: guests on this show because it's for your personal benefit

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Speaker 1: and it's free. I'm Rashan McDonald.

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Speaker 3: We talked to him.

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Speaker 5: Thank you for joining us for this edition of Money

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Speaker 5: Making Conversations Masterclass Money Making Conversations Masterclass with through Sean

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Speaker 5: McDonald is produced by thirty eight to fifteen Media Inc.

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Speaker 5: More information about thirty eight to fifteen Media Inc. Is

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00:24:48,800 --> 00:24:52,240
Speaker 5: available at thirty eight to fifteen media dot com. And

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Speaker 5: always remember to lead with your gifts