Author: kevin

[penci_blockquote style=”style-3″ align=”none” author=”Byron Allen “]”I don’t want to play in the Negro League I want to play in the Global League. I’m chasing Trillions Not Millions.” [/penci_blockquote]

The industry is paying a lot more attention to Byron Allen these days and that’s no surprise. It’s the way black entrepreneurs are often treated. If your name is not attached to a corporation your PERCIEVED value is often limited. SURPRISE! But it’s just like wearing expensive designer clothes or driving luxury cars, MOST wealthy smart money managers LOOK average.

Every time I bring up Byron’s name to other black entrepreneurs he is like a rock star and we discuss MANY successful black entrepreneurs but Byron Allen always gets the most respect and I cannot deny … I feel the same way. I really don’t think the community gets how brilliant this man is.

I’ve never seen Byron Allen brag or boast about his achievements. While I’ve never personally met him, I know I’ve been in the same room with him over the years and I know several people who work for him. His business savvy, knowledge and style even from a distance is second to none. He is confident and well aware of what his value is and I know several successful black entrepreneurs, from all walks of life, that are greatly inspired by him.

Byron comes off as a very laid back even-tempered nice guy but he also takes command when he has to, like his massive 20 billion dollar lawsuit against the FCC and Charter Communications a few years ago. This lawsuit benefited the ENTIRE black community especially when it comes to business and inclusion but for the most part … from the press, or so it seemed … crickets. It was evident at that time that he was in it to win it … at all costs. The FCC? Here are a few tips that we can all learn from Byron about doing business.

No Excuses … Because A Black Man CAN!!!

I would never say that racism does not exist nor would I dare to say that a black man is not at a disadvantage from birth in this country. I KNOW this to be true. Racism, conditioning, no fathers in the home and poverty exists … but so does opportunity.

In the early 80s, a very young Byron Allen was a comedian on a show called Real People. He was the only Black comedian… doing the same job as his white counterparts but they were making a lot more money. He let it slide for a couple of seasons then finally went and asked for a pay increase from the powers that be and instead of giving him the money that he deserved … they fired him. The experience could have crushed him and he could have relegated himself to the sidelines of life consistently rehearsing the experience for decades after giving up. Instead, he states, it was at that moment that he wanted to be in control of his OWN destiny.

There is Greater Value in Promoting Your Achievements over Desires

Have you ever noticed that most of Byron’s press comes AFTER he has made an acquisition? That’s pretty savvy considering 99.999% of black entrepreneurs promote future events. It makes sense, we need to garner capital and pay expenses and bills BUT, as legitimate Black black entrepreneurs, we also limit ourselves because we often only aim for just enough to get by instead of honoring our value and focusing on building generational legacy and wealth. Many of us with valuable brands are always struggling because we are chasing money instead of making it. Perhaps we feel as though we don’t deserve wealth. As Byron stated in an interview with Black Enterprise “I’ don’t want to play in the Negro League I want to play in the Global League. I’m chasing Trillions … Not Millions.”  What a powerful affirmation. How many of us say that to ourselves repeatedly … every day or have it hanging on our mirror?

When your press is about what you have already DONE, you separate yourself from the masses because it makes you more intriguing, eloquent and powerful. You are not asking for anything, you’ve already acquired what you want, you’re simply letting people in on the news. Instead of going to the press this is when the press comes to YOU. And that’s a very powerful position to be in. People want to know ‘How did he do it?’ ‘What makes him different?’ and ‘Who is he?’

Byron has become an expert at this. You rarely see him on social media saying “look at me, look what I’ve done, love me, please accept me, please believe in me, tell me how good I look.” I’m not even sure if Byron has a personal Instagram or Twitter account. There are a few fake ones that others have set up in his name.

He’s a quiet riot who is constantly making great deals and letting his business acumen and achievement speak FOR him but he is not just doing it for himself.

Acquisition Trumps Partnerships

This is one of Byron’s strongest points, why partner with someone who has added control over your business decisions who is there to look over your shoulder when you can do it yourself by owning it and hiring people to do the needed work instead? Why incorporate someone else in on your idea? Everyone that I know of who has done partnerships describes it as a disaster. That’s not always the case but the best way to do it is to be the sole owner.

Once you establish enough capital, of course, acquisitions can more easily be done. Business is very similar to real estate but can be even more profitable more quickly. You would be amazed at how acquisitions can be done on any level with or without a lot of capital and the benefit, of course, is the blood, sweat, and tears are already invested. Who has time to continue to establish businesses when you can buy, hold or sell what someone else has started but doesn’t want to finish?

What black man do you know of that would have thought about buying the Weather Channel? Probably none. Byron is a businessman. He saw the opportunity. The huge platform was not owned by a major media corporation and he was aware that there is actually a large audience that wants to watch the weather all day and if you have had a chance to see it recently, it’s very interesting to watch with all the added digital effects.

Serve the Greater Audience

When I say “greater” it’s not as in “better” but as in LARGER. The black community holds the key to trends, culture, music and so many other avenues, yet as a community, unfortunately, we still don’t respect black-owned businesses as much as we should. Entrepreneurs are not able to change the mindset of their teams, but they can change their teams and they simply have to put the best people in place if they are to grow.

I know a restauranteur who makes great soul food and while most black black entrepreneurs would think they could make the most money positioning that restaurant in a black neighborhood, he is in a very affluent white part of town where there are luxury cars parked on every street and expensive homes. He makes a killing because he’s the only game in that area. Byron thinks about the widest possible audience he can attract instead of limiting himself and his business.

Make Your Presence Known!!!

Byron’s position on this is evident by his lawsuits, hanging all the dirty laundry of major corporations who make a killing off of black people but fail to spend or return any of that profit in advertising or support. I have heard black radio owners complain about this for decades, usually behind closed doors but I have never seen anyone go public and sue the FCC. Byron even exposed the beloved Al Sharpton and Comcast for sham diversity deals. These are often “hush money” deals designed to line the advocate’s pockets instead of fixing the racist policies.

Don’t Acquiesce, Stand Up For Yourself

As stated, most people would not even think of suing an organization like the FCC but Byron did. I implore you to research what that suit was about and you will see how it actually benefited the entire black community. There is not enough room to talk about it here.

Ask for, Acquire or Get What YOU Want, Not What Others Think You Deserve

Your ability to achieve is none of anybody’s business except your own. Byron is still relatively young and he has achieved more than most people could ever dream of. I’m sure that he has been discouraged in some of his deals but that doesn’t stop him from aiming for his trillions.

Navigate in Silence

This goes back to Byron not revealing his plans until they are done. When you tell the wrong people your plans they WILL discourage you. If it’s not with their words it might be with their energy. This also lends itself to surrounding yourself with the right people. If you are in a room with the same people you were in the room with five years ago, you’re not growing.

Entrepreneurship is Key

The BEST way to do it is on your own. This is not to say that everybody can do it but true wealth is available to the man or woman who builds their own structures where the sky is the limit. A corporation can instantly lambaste your influence and power with a pink slip but an black entrepreneur is not likely to look in the mirror and say to himself … “You know, we’ve decided to make some changes and we’re gonna have to let you go.” That is unless he has lost it. Even if you are not an black entrepreneur these same rules apply to brand building.

Congratulations to Byron Allen for being an amazing businessman. More to come.

How do you go from managing hip hop stars to making mac and cheese a star? Meet Derrick Turton, aka Chef Teach of World Famous House of Mac. Since inception in 2015, Chef Teach could be spotted in his mobile food truck bearing his trademark logo, delivering his irresistible dishes at the Wynwood Yard in South Florida. The mac and cheese-centric eatery took Miami’s food scene to exciting new heights as fans lined around for blocks to sample the mouthwatering mixed-style Caribbean soul-food. His elaborate Caribbean flair has enticed locals and celebrities alike to claim Chef Teach as their “go-to guy” for catering events. Teach attended culinary school in 1998, but began his professional career in the music industry instead of heading right into the culinary world.

There he managed Pitbull for more than 15 years while working alongside other hip-hop royalty such as A$AP Rocky and Yo Gotti. During his time in the music industry, Teach developed friendships with artists such as N.O.R.E. and Fat Joe in and out of the studio. Next thing you know, he often found himself cooking amazing dishes for his friends.

After devouring Teach’s decadent variations of mac and cheese and discovering his unsurpassed culinary talent, friends like Bun B encouraged Teach to “take the cooking thing more seriously.” Bun B convinced Teach to prepare some of his signature dishes for his guests and observe their reactions, just to show Teach how good he really was. The crowd went wild! Then after his father’s passing in 2013, Teach felt an immense urge to do something meaningful with his life, inspiring him to take his friends’ advice, circle back to his culinary roots, and build his legacy as “Chef Teach.” In honor of his beloved father, Teach designed a caricature of his father’s face, which is now the renowned World Famous Mac and Cheese logo.

Celebrities like Rick Ross, Fat Joe and A$AP Mob are huge fans of Chef Teach’s scrumptious dishes. The coolest recognition yet? According to Teach himself, the Venus and Serena Williams Invitational were amongst his biggest and most prestigious events that he has catered thus far. Recent celebrity fans include Anthony Hamilton, Pitbull, Dwayne Wade, Gabrielle Union, Nate Robinson, Daymond John, ASAP Ferg, Fab 5 Freddy, Miami’s own Trick Daddy, Christian Combs, Charles Oakley, Uncle Luke, and more.

Now, with his third brick and mortar location, Chef Teach opened his World Famous House of Mac at Central Fare, Downtown Miami’s newest food hub, with former Carolina Panthers’ defensive end, Charles Johnson. There, he’s whipping up food phenoms like jerk salmon pasta, fried chicken and French vanilla waffles, and of course his signature mac and cheese dishes (like his World Famous Five Cheese Truffle Mac, Pizza Mac & Cheese, and Seafood Mac & Cheese).

With three locations under his belt, Chef Teach has his eyes set towards a nationwide expansion and his future is blazing bright with packed out locations and major social media buzz. See Instagram

 

Torrel Harris is immune to easy description. A former college player, he worked as an estate planner before he became an agent.

Torrel Harris recently negotiated the most significant contract in Philadelphia 76ers history with Tobias Harris signing a max contract for $180 million this past free agency period. On Saturday, October 19, Terry Harris signed with the Philadelphia 76ers (exhibit 9), and on Sunday, October 20, Tyler Harris signed to play with the Canton Charges, the Cleveland Cavs G-League team.

Wall Street Journal writer Scott Cacciola had this to say about Harris: “Torrel Harris is immune to easy description. A former college player, he worked as an estate planner before he became an agent. His first client was George Gervin, the nine-time NBA All-Star, with whom he remains close. “As young as he was, he had a lot of confidence,” Mr. Gervin said.

“Mr. Harris said he left the agent game in 1994 to start his own sports apparel line, securing licensing agreements with the NBA and the NFL for a reversible warm-up suit. Not long after that, he embarked on another important venture—teaching his son how to play basketball.”

Torrel Harris established Unique Sports Management International (USMI) in 1988, a company for NBA and international athletes. Mr. Harris is known for his unique style of managing athletes, contract negotiations, financial planning, investment strategies, counseling, brand endorsements, charity work, leadership, and marketing strategies for his clients that include Hall of Fame athletes like George “Iceman” Gervin (San Antonio Spurs), Lynette Woodard (Harlem Globetrotters and WNBA Cleveland Rockets), Cliff “Tree Top” Robertson (Philadelphia 76ers), Lewis Lloyd (Houston Rockets), (Mark Davis-Milwaukee Bucks) and many more.

HEAR THE PODCAST HERE

Unique Sports Management International is a full service sports agency focusing primarily on athletes in the NBA . The organization is comprised of experienced and reputable sports leaders with a commitment to putting the athlete first. Unique Sports Management International’s mission is to help clients have a positive and meaningful impact on and off the court and playing fields, by addressing all aspects of the professional athletes’ development. The company seeks to empower clients so that both during, and when their professional careers are complete, they have firm financial, philanthropic and business foundations along with physical and mental health.

At the end of the year Harris is scheduled to be named Agent of the Year by the Black Sports Agents Association (BSAA).

The CEO of US Black Chambers Inc., Ron Busby, will be at Albany next week to deliver a keynote address at the Capital of New York State Black Expo, which will hold on Nov. 9 at the Albany Capital Center.

This is not Busby’s first visit to Albany; he had visited Albany on five or six previous occasions, including speaking during the legislative days hosted by State Senator James Sanders of Queens.

Busby started his first business with five employees and grew it into the largest black-owned Janitorial firm in the country with over 700 workers. Though he later sold the company and went on to develop other firms. He started the US Black Chambers Inc. in 2009; to give black business owners in Washington a platform to express themselves.

The US Black Chambers Inc. has it headquarter in Washington, D.C. – it has around 300,000 members and 145 member chambers, including The New York Black Chamber of Commerce.

Music magnate, businessman and rapper, Master P and radio host Mark Thompson wade-into numerous topic on “Fallback Friday”; a segment on “The Beat with Ari Melber” news show.

Master P joins his voice with Mark Thompson to roll drums of support and sympathy for the Duchess of Sussex, Meghan Markle. He also pushes for more black-owned businesses and the need to have a mix of persons from a diverse background in America’s board rooms. Master P, while inviting Thompson to taste popular snack, “Rap Snacks,” talks about his partnership with the company. watch video below

Collage dance Collective is a black-owned dance school that is based in Binghamton. Kelvin Thomas and Marcellus Harper own the company. The center trains about 500 children every week.

By the next year 2020, the company will move to a bigger space at Sam-cooper and Tillman. The property, which is about 22,000-square-foot unlike their present location, which is 2000-square-foot, was procured by collage dance collective. After this project is completed, College will become the largest black-owned ballet school in the south. Mr. Harper says the extra space will enable them to take in more students.

In an interview with MSNBC host, Ari Melber, Master P discloses the advice he gave to Snopp Dogg, his business collaboration with the creator of “Rap Snacks” James Lindsay, and why a black-owned business should be given the needed support. He also discusses the challenges that executives from the minority pass-through.

We also learned from the interview that Master P and James are expanding “Rap Snacks” and also working with black entrepreneurs and artists to promote financial success and educate community leaders on the need to own a stake in their contribution and culture. watch the full interview below.

The talented comedian took to social media to release a short video on his Instagram account. The video shows Steve hugging and congratulating Perry after finishing his secret shoot. You could also hear applauds from the crowd that were present at the studio.

Though he didn’t say anything about the new project in the video but the caption he placed on the video indicates that something is coming soon from the comedian. He said: “This brothers studios you have to see UNBELIEVABLE !!!!!, Just shot a special project there coming soon…… but y’all gotta go see it.”

It will be recalled that few months ago NBC had cancelled Harvey’s talk show “Steve” and also replaced him with Melissa McCarthy as the anchor of “Little Big Shots.” Despite all these, he still run his radio show and job on “Family Feud” and the Miss USA pageant. watch the short video below.

New Amazon grocery store in Woodland Hills, CA. photo: Kevin Ross

It was rather surprising a couple of months ago when Amazon had announced they were doing a partnership with Whole Foods. It was even a little bit comical that Whole Foods was offering discounts … something that most people do not associate with the Whole Foods name.

The partnership was very short. The Amazon prime and Amazon connection failed miserably. So what does a company like Amazon do when they make a mistake like that? Disassemble the relationship and open their own damn grocery stores, that’s what (lol).

Here’s one opening in my neighborhood that supposed to be top-secret but in having a conversation with one of the workers he told me what it will be.  It will be very interesting to see how the store does.

I’ve always told several black entrepreneur friends that Amazon was going to end up doing this. They were going to crush the brick and mortar concept and then once they did that, the were going to redo it all over again with their name on it, damn near owning everything.

Don’t be surprised if you see Amazon clothing stores Amazon furniture stores Amazon shoe stores and more and I’m sure they will probably tie in those pick-up lockers where you can pick up your Amazon items from the stores too WHILE you shop. Pretty damn brilliant.

The greatest and most effective way to create wealth is by creating passive income. But creating it is not enough. You have to change the way you spend your money FIRST or you will be (temporarily) rich but still broke. I was shocked when I saw a new “financial advisor” on the Steve Harvey show recently who was suggesting that passive income was all about having as many jobs as possible. My jaw dropped. Nothing could be further from the truth. Having as many jobs as possible will KILL you. That’s not “passive income” it’s suicide. Passive income is NOT working yourself to death, it’s putting your money to work FOR you and you might be amazed how easy it can be. It all boils down to the way we THINK about money. Let’s just say in the Black community, we have a LOT to learn. You MUST commit yourself to a plan to save which after about a month, will become a habit, otherwise, you will go right back to wasting money over and over again. I’d like to share with you some of the things that I have learned over the years when it comes to saving your OWN money that surprisingly, many people don’t know about and/or don’t practice.

When it comes to money, it’s incredibly easy to live paycheck to paycheck which most of us do. Many of us have no idea where our money is going and at the end of the day, we all could be one or two paychecks away from being homeless no matter how much we make. If you don’t have at least a year’s worth of living expenses in an INTEREST BEARING ACCOUNT (NOT a savings account at a bank where they are making the most money off of YOU) then you ARE in debt.

Giving money to a financial advisor or beliving the big barrel of horse dung that commercial banks consistently push on consumers about being the best bank is almost comical. Have you noticed they sell “service” more than anything else? That’s because they are all sucking your savings dry with fees. If your money is just sitting in a bank, you’re leaving money on the table.

It’s Not What You Make, it’s What You Keep … AND WHAT YOU DO WITH WHAT YOU KEEP!!!

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Bank Statements – You Don’t Get What You Don’t Ask For

You can keep your money in a savings account all day but if it’s not bearing interest, you are only making money for the bank. Here are a few ways to KEEP more of the money that you earn AND ADD TO IT.

Did you know that most banks will refund all, most or some of your returned check item fees once a year just by calling them and asking for it? Especially if you have been a good steady customer.

Many people opt out each month on reading their credit cards and bank statements. After all, we are too busy arent we? Many of us have opted out of getting the paper version and because of this, we are not aware of what’s coming in and what’s going out. Seeing a detailed list of this can help to keep track of your money. You would be amazed at how much money you waste on fees, overdraft charges, and subscriptions you never use or forgot that you signed up for. Too busy to do that? The good news is there’s an app for that… (click next to see the next segment)

Clarity Money App

There are MANY apps out there like YNAB (You Need a Budget), Trim, Mint (a Quickbooks free service with a LOT of credit card ads) and more that help you keep track of all of your accounts in one place. While some people may not be comfortable about giving their bank info to an app, you will be glad to know that when you open your bank account and you sign all those papers where the clerk is telling you what each page means? (NEVER fall for that READ WHAT YOU ARE SIGNING) you are giving the bank permission to sell your info when you sign those papers anyway … and they do. This is part of the reason you are getting so many solicitation calls. Yes, commercial banks are selling your information and making an additional profit off of you and you give them permission to do it.

I would recommend, out of all the apps, Clarity Money. Why? Because it not only keeps track of all of your accounts but it also keeps track of how you are wasting money like unused subscriptions that eat away at your budget year after year that we keep forgetting to cancel. Some Gyms, for example, not only charge a monthly fee but they also charge a yearly fee that is much more than the monthly fee, they call it a “cleaning fee” and you may not even be using the membership. The Clarity app has an option to simply cancel the subscription by taping “Cancel” and you don’t have to go through the hassle of signing into the bank account to do it. Clarity also sends you reminder about paying your bills a few days in advance.  (click NEXT for next segment)

Capital NONE: Cash Back Credit Cards, Worth it or Not?

Never be fooled by credit cards that offer cash back for what they REALLY do. Yes, you can get cash back BUT their goal is to get you to use the card as much as possible to the point that you can NOT pay the entire balance before 30 days is up. What happens then? You get hit with a very high-interest charge and lose all the cashback and pay additional costs for every month that you don’t pay the entire card off which makes the “cash back” amount a joke. Credit card companies LOVE to lure uneducated consumers who like to waste money, it’s how they stay rich.

If you HAVE to use credit cards, NEVER overextend yourself with cash back cards. Make sure you can pay the entire balance back within 30 days. That’s the only way that YOU benefit. At the end of the day, the money that you make or the points that you get may not even be worth the stress of trying to keep up with all the blackouts and how to use the card. Read on for better ways to keep your own money

(click NEXT for next segment)

Reduce Interest

Call your credit card company and ask them to reduce the interest on your credit card. It’s that simple. If you are a good customer, most will do it without a problem. The problem is, most people never ask.

Better than Amazon PRIME

I am not a big fan of Amazon Prime for a couple of reasons, they charge you a $100 plus fee at the beginning of the year or a $14.00 monthly fee then they send you your ordered items withing two days postage for free. But it’s NOT free.  If you explore the same item from other sellers, where Prime is not attached, you will see that Amazon hikes the price up for many Prime items to build the shipping costs into the price of the item. In addition, many retailers like Walmart actully DO offer free shipping and they DON’T hike up the price on a lot of THE SAME items without yearly fees. Save your money

Rakuten

One of the greatest joys in life is seeing that message on your phone that says “A direct deposit has been made into your account.” ESPECIALLY when you didn’t expect it and here is another way that can happen with YOUR OWN MONEY.

I don’t know about you but I love getting cash back, which is better than just saving money when the purchase price remains the same or is discounted which is why I love Rakuten.

Rakuten (formerly eBates) is a site (or you can get a chrome extension that pops up when you shop online) to let you know if you can get cash back with certain items or companies. I just got 12% cash back for a hotel room that I booked and it’s enough to pay my internet bill. On a scale of 1 to 10, I rate this app a 10. The other thing I like about Rakuten over sites like Booking.com or Travelocity is it takes you directly to the merchant’s site to purchase so you should get your hotel points too. If you use your cash back card you get another benefit. While Capital One offers a great cash back card called “Spark” know that there is a $95.00 fee each year for it.

You don’t get points when you shop for a hotel room from a 3rd party site BTW. Find out more about Rakuten

Acorns

My brother is very proud of the fact he has always rounded out his change from his spending and saved a ton of money. I was telling him not only is there an app for that it ALSO INVESTS the money for you. You can decide how you want to invest it, be it light investing or with more risk. It’s like having your own financial advisor but with fewer fees. They charge a small fee for the service but you don’t even miss the change and you would be amazed at how it grows so quickly. You have to submit the credit cards that you want to round off and it does the rest of the work for you. This is one of my favorite apps. Find out more about Acorns.

Robinhood

If you want to play around and learn how to invest on your own, Robin Hood is your best source. There are no fees for trades like all the other online sites and the site design and information is less constipated than sites like Etrade, it’s easy to read the latest news, analysts’ reports, recommendations and trends. There are no minimum deposit requirements and you can fund your account directly from your bank. Find out more about Robinhood

Air Travel

I’m not sure how many people know that airlines not only change prices daily, they change them several times a day. If you have at least a month before your trip takes place, log the information into Google Flights with alerts, and you will be notified every time the price changes.

Hotels

There are MANY apps that can help you save on hotels like Hotels.com, Booking.com etc but at the end of the day, you would be surprised to learn that the prices on the hotels’ actual site are not much different and the benefit it, you get points when you book on the hotels actual site. Go to Rakuten and find out if the hotel is offering cash back as an added bonus.

It’s better to get the money you were going to spend BACK then to get a fake discount that is the same price across all platforms INCLUDING the actual hotel booking site. Be careful when booking a hotel room from the hotel booking site. Some 3rd parties companies are unscrupulous in creating duplicate sites and pages where you THINK you are booking from, for example, “IHG Hotels” but you are actually booking from Expedia. You can resolve this issue easily by looking at the domain name of the site that you are on and what it says after “https.”

Airport Parking

One of my mentees was shocked when I told him that using Uber or Lyft for the airport is a complete waste of money. He said self-parking was the same fee but it’s actually not. It’s MUCH less in most cities by simply doing one thing. Book in advance at my favorite site Rakuten, simply type in “Parking reservations” after you go to https://rakuten.com and you will you pay anywhere from $7 to $20 a day at parking facilities very close to LAX, for example, you also get cash back for your purchase. If you drive up on the day of your trip you are not only risking the lot will be full, you are also going to pay the most money which is what most people do. While Uber and Lyft have their advantages it can also be an incredible waste of money. A ride to the airport can cost you close to $200 back and forth for a 5-day trip that could actually cost you $50.00 to park on your own. Book your parking in advance.

Ditch Audible for …

I used to use Audible as I am an audiobook junkie, but I realized I was paying $14.00 a month for one book that may actually cost $10.00. F that, I discovered Scribd.com and I pay $8.99 for UNLIMITED books both audio and text. You can also download the audio and textbooks. Check out Scribd

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