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Starting a Business? A few things You Need to Know

Starting a Business? YOU MUST HAVE …  PASSION for What You Do

Start Your Small business: Have you ever been in love? REAL LOVE? The kind that makes you forget the rest of the world exists and EVERYTHING is about the other person? You can talk on the phone for hours to them but it seems like minutes? You leap out of bed ready to take on the day with a huge smile on your face because you’re experiencing true happiness?

Unfortunately, for most, this feeling is temporary but not if you’re a small business and you constantly reinvent yourself. Why? Because business is the SAME WAY! “Do what you LOVE and the money will Come” is exact and true but at some point, you have to put the “passion” on the backburner and focus on sales. Probably after the first year. If you do it the opposite way and you are only in business to make money … you will fail miserably. What is it that you LOVE to do, that you could do ALL DAY, all week, all month and all year and when you are doing it, it feels like you are not working but doing what you love? Have people offered to pay you to do this thing for them? If you can answer the question …There’s your potential business!

Starting a Business? YOU MUST … Have a Budget

Start Your Small business: I would STRONGLY suggest not taking out loans if you don’t have to for three  reasons:

1. I don’t like dealing with middlemen, they can rob you of your passion and it’s always best to start off NOT owing someone the loan back PLUS interest. You are starting BEHIND the 8-Ball and it’s very difficult to EVER catch up. How you start is how you finish in business.
2. It ALWAYS helps if you have money stashed to start your small business for those lean times and THERE WILL BE LEAN TIMES. When a check or payment doesn’t arrive on time and personal bills are due etc. If you start off begging for business, your entire business will most likely be based on you begging. If you have to beg people to convince them of your value, you are in the wrong business. They should SEE the value at a certain point. You never want clients running FROM you, you want them running TO you. Provide great service
3. In the game of running a business, it is YOUR objective to make money and everybody else’s to separate you from that money and to leave you broke and starving. Read Rich Dad Poor Dad and you will know what I mean. (get the audio version if you are like me and don’t like to read). You want to avoid all interest, penalties, and services you don’t need because you WILL need the money at some point and you SHOULD be able to enjoy what you have worked for SPEND VERY WISELY and make your money work FOR you not you for it.

Starting a Business? … Have a Vision…

Start Your Small business: I am surrounded by other black entrepreneurs or people who are on their way to being black entrepreneurs. We attract each other and most of my closest friends are black entrepreneurs. I had a former tenant who loved to experiment with cheesecakes. He worked for the gas company for his full-time gig but he would do things like making Peach Cobbler Cheesecake, German Chocolate Cheesecake, Cheesecake Pound Cake, Oatmeal Raisin Cheesecake and even Sweet Potato Cheesecake. People would go NUTS over those Cheesecakes and he started taking them to work and his coworkers would offer him up to $30.00 to make them ONE of his Cheesecakes. Before he knew it, he had to rent a kitchen and he was making at least 50 Cheesecakes a weekend as word spread. He LOVED doing it and he became a different person while he was doing it. He really enjoyed it.

He wasn’t bound by the work grind and the stress he had to often face working with broken gas lines in the field. Who could be passionate about that? To make a long story short, he was not comfortable with the lack of security he felt he would have without a full-time job. I along with several other black entrepreneur friends tried to convince him that he could triple and even quadruple his current income and have continued growth over the next 5 years that would make him incredibly successful but he did not have VISION. He let the opportunity to own a business pass him by and sticks with making cheesecakes as a hobby. Of course, he will never grow.

12 REASONS YOU SHOULD NEVER HIRE FRIENDS

Starting a Business? YOU SHOULD BE … ORIGINAL?

Start Your Small business: Doing what someone else does because you have the same contacts or you see that they are making money is doing business competing. It’s the opportunist’s way of duplicating what someone else is doing to make the same money.

It may work for a minute because the clients get confused but chances are you don’t have the talent and you are not churning out the same quality product that they are and you will eventually fail. If your business is based on mimicking what someone else does, it’s NOT time to start your small business, it’s time to either do a better job or think of something else. The greatest part of being an black entrepreneur is the passion that you AND ONLY YOU have for what you do.

Starting a Business? YOU ARE READY IF … People Keep Coming Back?

Start Your Small business: One of the GREATEST signs that you are able to start your small business is if whatever it is that you do has the same clients coming back for more WITHOUT you calling them. Your clients are the best friends to your business.

If you have been in business for more than 3 years and you don’t have at LEAST one or two MAJOR clients, something is wrong. Prospects are not seeing the value of what it is that you do.

In the fast-paced and ever-evolving world of the industry, older workers face unique challenges and uncertainties. As the industry landscape shifts and embraces youth-driven trends, seasoned professionals must confront the truths that lie beneath the surface. This eye-opening story delves into the unspoken realities that older workers must navigate to thrive in their careers. From knowing when to make strategic moves to understanding the impermanence of success, we uncover the secrets to staying relevant and fulfilled. Join us on a journey of discovery as we shed light on the path forward for older workers in the industry.

Revealing Truths About Older Workers in the Industry

Discover the realities that older workers in the industry must face to ensure their continued success and fulfillment in their careers. Don’t miss these critical insights that can significantly impact your professional journey. Click “next” below to delve into the truths that can empower you.

Knowing When to Make a Strategic Move

Are you holding onto a position you should have left a decade ago? Learn from common mistakes and break free from the trap of denial. Recognize the signs that it’s time to explore new opportunities and embrace change. Discover the possibilities that lie ahead and make the most of your potential. Find out why taking action now is crucial for your career advancement.

Understanding the Impermanence of Success

Success in the industry may seem everlasting, but realizing that nothing remains the same forever is essential. Explore the importance of adaptation, innovation, and continuous growth to stay ahead of the competition. Learn how to reinvent yourself and your brand to remain relevant in a constantly evolving industry. Discover the strategies to secure your future and navigate through both prosperous and challenging times.

Building Bridges Instead of Burning Them

Don’t turn your back on former industry colleagues. Understand the significance of maintaining professional relationships and supporting one another. Discover the power of collaboration and how it can benefit both parties involved. Uncover the secrets to networking effectively and fostering connections that can help propel your career forward.

Putting Business First: A Harsh Reality

Realize that the industry is driven by results and contributions. Learn why it’s crucial to bring value to the table and be proactive in creating opportunities for yourself. Gain insights into the challenges faced by industry professionals and how to overcome them. Prepare yourself for the industry’s demands and ensure your professional growth and sustainability.

Cultivating Genuine Connections

Discover the truth about the depth of your industry network. While you may have encountered numerous individuals throughout your career, true friendships may be scarce. Understand the importance of authenticity and sincerity in building lasting relationships. Learn to differentiate between genuine connections and those based on professional circumstances.

Embracing the Uncertainty of Fate

Uncover the unpredictable nature of the industry and the impact it can have on your career. Learn from personal experiences and stories of others who faced unforeseen challenges. Prepare yourself by planning for the future, investing wisely, and ensuring your professional resilience. Embrace change and adapt to the ever-changing landscape of the industry.

Age as a Factor: Navigating a Youth-Driven Industry

Explore the realities of working in an industry that favors youth. Understand

10 Things We Can Learn from Shawn “Jay-Z” Carter

There’s not a more financially prosperous hip-hop artist than Shawn “Jay-Z” Carter.  Jay-Z, whose name will go down in hip-hop history as a consensus all-time great, has managed to eclipse his achievements in music with his successes in the boardroom.  With an estimated self-worth of almost $500 million, Jay-Z has successfully transitioned from underground emcee to multi-million dollar mogul.  By listening to his music and studying his professional career path, there are certain aspects from Jay-Z that we should use as a blueprint. (click “Next” above or below for more…)
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You can rise from humble beginnings.

Shawn Carter was raised in Marcy Projects, located in the Bedford-Stuyvesant section of Brooklyn, N.Y.  He grew up in a single parent household and was a high school drop-out.  For a brief stint, he peddled drugs in the streets to earn money.  In regards to his past, he states, “The burden of poverty isn’t just that you don’t have the things

you need, it’s the feeling of being embarrassed everyday of your life and you’d do anything to lift that burden.
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Take the black entrepreneurial route.

Jay-Z didn’t get his start with the backing of a major record company.  He first sold CDs out of his car and eventually became a co-founder of the independent label, Roc-A-Fella Records.  Carter adds, “I was forced to be an artist and a CEO from the beginning, so I was forced to be a businessman.  When I was trying to get a record deal on my own, it was either, give up or create my own company.”  Shawn later became founder of his current music label, Roc Nation.
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Represent your roots.

Jay-Z’s name has been synonymous with Brooklyn.  Throughout his career, Hova has made countless references and shout-outs to his hometown.  Jay-Z’s extensive music catalogue is comprised of many titles including, “Brooklyn’s Finest” and “Brooklyn (We Go) Hard.”  It was Carter’s insistence and encouragement that helped influence the NBA team, the Nets to relocate from New Jersey to Brooklyn.  Carter ultimately became part owner of the Brooklyn Nets, and sits courtside at home games in the Barclay’s Center, still cheering, supporting, and representing his borough.
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Overcome your differences.

After having a highly publicized, four year feud with Nas, Jay-Z buried the hatchet by inviting his former rival, to join him on stage at the ‘I Declare War’ concert in 2005, where they reconciled their past beef.  The following year, while president of Def Jam, Carter signed Nas to a recording deal and the two appeared on each other’s next albums, American Gangster and Hip-Hop Is Dead respectively.
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Align your personal brand with similar, successful brands.

Carter signed a 10 year, $150 million deal with Live Nation, in which he controls records, tours, strategic marketing, and creative advertising development for companies like Budweiser.  Although later selling the rights to Rocawear, another business venture which he co-founded, Jay-Z still retains stake in the company and heads up marketing, licensing, and product development for the brand.  Shawn says, “All of my businesses are part of the culture, so I have to stay true to whatever I’m feeling at the time and whatever direction I’m headed.  My brands are an extension of me.  They are close to me.  It’s not like running General Motors, where there’s no emotional tie.”
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Think expansion and franchising.

Carter is the co-owner of the 40/40 Club.  The upscale sports bar began in New York City and has since expanded to locations in Atlantic City, Brooklyn, and Las Vegas.  Jay-Z has global plans for the 40/40 Club as he eyes future establishments in Tokyo, Singapore, and in various airports.  Jay-Z also shares ownership with billionaire businessman, Mikhail Prokhorov in the NBA franchise, the Brooklyn Nets.  Regarding growth, Hova states, “People respect success.  They respect big.  If you’re big enough, people are drawn to you.  And hopefully, everyone else follows.”
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Put your signature on it.

Jay-Z is one of only a handful of rappers, whose given name is just as popular as his artist name.  In addition to writing Shawn Carter into many of his lyrical compositions, Jay-Z has attached his government moniker to various product endorsements and branded entertainment opportunities.  In 2003, he became the first non-athlete to get a signature collection from Reebok.  The S. Carter line became Reebok’s fastest selling shoe in company history.  Jay-Z advises, “Remind yourself, nobody is built like you.  You design yourself.”
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Realize your voice can be heard in non-traditional audiences.

Jay-Z became active in politics through the HeadCount organization and various other voting drive initiatives; encouraging registration, participation, and sending voters to polling stations.  He also became a public supporter of President Obama and helped raise $4 million for his re-election campaign.  Carter states, “Growing up, politics never trickled down to the areas, where we come from.  Obama himself; reached out to me and asked for my help on the campaign.  We’ve had dinner and we’ve spoken on the phone.  He’s a very sharp guy.  Very charming.  Very cool.”
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Own your own material.

In 2014, Jay-Z will accomplish what only a few artists have been able to do in music history, which is be in full control of their master recordings and publishing rights.  The deal that was signed in 2004 would take 10 years to go into effect and applies to the music that he made while signed to Universal Music Group.  Carter accepted the presidential position at Def Jam in the first place, to help secure ownership of his masters.  Shawn says, “Hip-Hop is more about attaining wealth,” with the structure and terms of this new deal in place, it will certainly allow him to do so, on a much grander scale.
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Help expose and broaden our cultural significance.

Jay-Z will co-produce the motion picture remake of the classic musical, “Annie” along with Will Smith and Jada Pinkett-Smith.  For the first time, the popular, title character will be portrayed by a black actress, 9 year-old, Quvenzhane Wallis.  The forthcoming film will of course feature Jay-Z’s hit, “Hard Knock Life,” which samples the soundtrack song from the original production of “Annie.”  Carter also collaborated with the Smith’s in 2009 to produce the Broadway musical, “Fela!” in homage to West African Afrobeat creator, Fela Anikulapo-Kuti.

Clients Are Not Buying Your Services? Here’s Why …

No matter what business you are in, if a client doesn’t see the perceived value of what you do, you won’t be in business for long. How do you achieve that? First and foremost you MUST find a hole and fill it in and fill it well in order to have a successful business, second make sure you are not perceived as an annoyance. MOST black entrepreneurs are perceived that way for several reasons. They are listed below click “next” above or below and Enjoy..

You are Overcharging/Clients Don’t see the Value

Some of us overcharge for our services based on our tenure instead of our brand, experience in business or ability to run a business. Most clients don’t want a confrontation with you so they won’t tell you that you are charging too much they will simply decline the offer. If you think this may be the problem, there are hints they will often give you like: “We don’t have the money in our budget” at that point you can ask “What can you afford to spend?” They will probably low ball you to test you out at that point and what you can do is negotiate up a bit from there to secure the business. If they say “We don’t have it in our budget” they are giving you a chance to meet them halfway. Take it, it’s better to have something than nothing at all. Just make sure you tell them it’s an introductory offer to show how effective your services are, or something like that.

You Beg and Look Pathetic

Nobody wants to be USED and business people are not stupid. I get two kinds of calls daily: those who have their budgets in place, see the value of what I do and are ready to buy NOW (these are the clients I LOVE the most) and those who want to use my brand to make money for themselves but they position it like they are helping me. For example.

A man from an “established” Internet company called me a few weeks ago and was bragging about all the major corporations that use his services and how successful they have become and how much money his company has made. Then he asked me to do “affiliate advertising” for his company on my site, a brand that I have built for 18 years. “Affiliate Advertising” is when you run their ads, basically for free and if anyone contacts him and buys his services he will give you a percentage of the sale.

To me, that’s a foolish gamble. I don’t work for you. You need MY services. In addition, I have employees to pay and that’s real estate on my site that I can use for a paying client. Finally, how do I KNOW who is buying your services from my site and whether or not you WILL pay me for it? NO THANKS! If you are making SO much money from the other corporations, invest in your own corporation and RESPECT other business owners and PAY for the space you want on my site. When you have established your brand NEVER and I mean NEVER give anything away for FREE, the potential client will never see the monetary value in what you do if you do. Another annoyance is people who have ideas that involve my brand and me doing all the work to get THEM in the door then there is the promise of using me once they get hired.

These are what I call “Beggars” and “Carrot Danglers” they are telling you everything you need to know about them. Your business is not a welfare agency, a volunteer service or a bathroom at a gas station. KNOW YOUR VALUE and stick by it. People like this KNOW YOUR VALUE because they are reaching out to you in the first place. Yet, they are full of shit/game and they are trying to use what you have worked hard for to THEIR advantage not yours. If they don’t have money or contacts today, they won’t have it tomorrow. Screw a promise Marry COD.

The Client Doesn’t Like Your Approach or the Impression you have left

NEVER approach a client as if your tenure allows you to have entitlement. That’s a HUGE turn-off and it’s their budget. They don’t have to give you one red penny and if you make them feel like they are obligated to do it, they will shut you down for good and you are powerless against them. In addition, they will tell others who do what they do how you treated them perhaps one of your biggest clients and you will develop a reputation.

The Client doesn’t see the benefit

This is a tricky one because many of them won’t tell you they will just keep denying you. You can, however, ask questions like “How can (your business) help you achieve your goals with this product etc?” They may say something like “We don’t have it in the Budget” which leaves the door open for you to negotiate. You better, however, be able to show them great value if you get them or they will never come back. Make SURE you can deliver not only what you say you can deliver but ABOVE that.

Your calls and emails have exceeded the necessary limit

You have become a nuisance. They got your last 20 emails and your last 20 messages. If they don’t return your calls after 3 calls over a 1 month period. Stop calling them for 3 months. Give them time to see your brand or hear about it then approach them again but don’t become a stalker. If you have to BEG someone to give you business, something is VERY wrong with the way you are doing business. If you find a hole and fill it properly, you won’t have to do a whole lot of work to get clients. They will come to you.

The Potential Client Just Doesn’t Like You or your Brand

Everyone is not going to like you or your brand. No matter how many times you pitch them. Move on.

BONUS: The Potential Client Doesn’t Like YOU

Things all black entrepreneurs MUST DO to be taken Seriously. Quite often we are TOO focused on the PRODUCT and not the PRESENTATION…

which can GREATLY affect our business. Here are some tips on how to avoid some common mistakes and to make your business look professional even if you don’t have the budget. Enjoy

Be The Relegated Professional

If you are in business and you cannot relegate yourself as a professional in your field of business then you are in the wrong business. Being a professional opens many doors to expand your brand. Speaking engagements, newspaper articles, radio interviews etc.

You should also send out press releases offering your services. Send it out to your mailing list perhaps once a month. You never know who knows who and who may need someone like you to do a paid speaking engagement at an event. HUGE sites like the Huffington Posts consistently take articles from unknowns and if it’s something that they can use they will post it which could be a HUGE opportunity for your business

Web Site

So say you get an article about your field published in the Huffington Post and they link it back to a tacky and cheap looking website… STRIKE!!! You would be amazed at how many major corporations have horrific websites. They don’t see the value in updating their sites and attracting customers but this can be an INCREDIBLE opportunity for black entrepreneurs and black entrepreneurs.

We are ALWAYS trying to cut corners and save money but this is one area that you MUST invest in if you want to be taken seriously. Budget out at least $3500.00 to get your website up and running and to keep updating it at LEAST once or twice a week if you are pressed for time but every day (weekdays) if you want to get the maximum benefit. You can go do a local college and get a student to do it for you cheaply and nobody will know the difference. If you don’t have the budget to hire a pro, go to godaddy.com and use one of their pre-formatted templates and do it yourself, it’s VERY easy even for a novice and it’s cost-effective, should be no more than $20.00 a month.

Professional Email Address

If you go to Godaddy.com you can add a professional email account for pennies on the dollar. This is a MUST have. A bad email extension has got the be the tackiest thing in any business trying to earn respect. If your company is called “The Blue Pearl” you should have an email address that says “[email protected]” Not “[email protected]” or “[email protected]” these are the things potential clients notice and if you don’t take the time and very little money to establish a website and professional email account extension don’t get mad if people don’t do business with you.

Professional Logo

If you are not familiar with design, hire a college student to do it but please don’t present a tacky logo and expect to be taken seriously. Make sure that if you hire someone to do your logo that they give you the main file in the original format that it was created in. It may be a .psd most likely if they do it in Photoshop. If they are not willing to give you the original file (ask up front) then take your business elsewhere. Otherwise, you will always have to go to them to update or tweak your logo and they are going to want for you to pay them for it.

Professional/Catchy and Unique Business Name

I can use myself as an example here. My magazine when created in 1995 was originally called “Radio Fax” I eventually changed it to Radio Facts (https://biztipper.com) but most of my competitors have the word “Urban” in the name of their brand which I felt would limit my brand to one audience. I could have called it “Urban Radio Facts” but why? It’s a mistake to do something like that because you could be isolating your core or the corporations that will support your core.

As an black entrepreneur NEVER give an advertiser or client an excuse this easy for backing out of supporting you. Unfortunately, they will probably never tell you that your business name is a HUGE turn-off, they just won’t support you. I get things from business owners with names like “SisterLove” which is fine if you ONLY want to market your brand to women. Think about WHO your target audience AND your financial supporters are and don’t isolate them, come up with something unique that’s not like your competitors and make sure it’s not tacky if you are targeting corporate clients.

Sales Stats/Word of Mouth Testimonials

One of my GREATEST turn-offs is when people come to me selling their brand and they talk about all the great people who support their brand and all their clients like they are rolling in cash but they want something from me for free? I IMMEDIATELY don’t trust the person. First and foremost after working in the music industry for 28 years, there are several things I have learned.

Those who talk the least and let their brand SPEAK FOR ITSELF get the MOST respect. The music industry is all about hype but hype rarely wins. Most people are looking for the next Beyonce but there is already a Beyonce and the ones who duplicate her will usually lose. It’s the one who is almost totally opposite of her that gets the attention. If you do a great job, your brand and people will speak volumes FOR you. Potential clients are MOST impressed with actual stats or word of mouth from OTHERS. Bragging about what you do is a turn off for most established clients. If they have come TO YOU, half of your battle is already won, there is something about what you do that is appealing to them already don’t oversell yourself.

A Respected Reputation

There was a time when I was a very mean and negative person. I didn’t trust anyone in the industry after a few bad experiences with people who were not my friends and I made the mistake of relegating ALL industry people to those who could not be trusted and who were full of shit. I was able to overcome that by being a spokesperson for radio people and speaking up for them when they could not speak for themselves. I have been on the same roads as they have and I have struggled financially like that have and I have played the mean politics at many radio stations as they have. I am an expert on radio.

I risked my radio career for my audience but truth be told, I never liked working on the air anyway. It was boring and I could not be myself and there were too many politics. So it was a natural progression that I was able to move in a direction to be a national figure for radio instead of a miserable DJ moving from market to market. There may still be a few people in the industry that don’t’ like me, but I could care less because I have no doubt that I am respected and in the end that’s really all that matters. You don’t have to be loved but make sure you earn respect.

Tenure or Great Knowledge of business Field

If you know nothing about what you are doing it’s going to be very hard to convince others of it too. Don’t do something because it’s easy do something because you LOVE it and you are PASSIONATE about it. Why would you start a business that you will hate in a year? If you are doing it for money and money only you will come up short. As the old saying goes Do what you Love and the money will come.

Consistency

How consistent are you with developing your brand? If you have a brand that doesn’t need updating that’s fine but let’s look at Apple for example. They have done a BRILLIANT job of marketing their products and they change them every year. People want to look like they are advanced in technology so they want the latest iPhone, iPad or Mac computer.

Apple doesn’t have to renew their product every year but if they want to continue to make MILLIONS then they have to. Ironically, they keep creating the same product but they add a few more features and people eat it up. I still have my iPhone 4 because I think they screwed up (POST the death of Steve Jobs) with the iPhone 5 when they changed the connections. This means you not only have to get a new phone but all the brands like stereo systems, TVs, car adapters etc can no longer use the new iPhone. That was a mistake and an oversight that probably cost them sales. Nevertheless, how consistent are you with growing YOUR brand. Try new things, tweak what you offer and make sure you have some kind of feedback to give you results.

Professional Product

If you have a brand that requires you mail it to people are you mailing it on time? How does the packaging look? Are you including short surveys about your service? Are you following up with an email. Did you even get their email? Did you add their email to your database to send them future specials on new product? Your brand can look great but the packaging must ALSO look great. Make sure you respond to orders in a timely fashion and treat your clients with respect.

Professional Physical Presentation

This is a hard one because its personal. How do you look physically? Would you do business with someone who looks like you if they walked into your office. Currently, I’m carrying some extra weight and I’m constantly working on it but I know for a fact that business is great when you LOOK great. Everyone is not going to do business with you because they like your brand, some people will do business with you because they admire you, are attracted to your personality or your charisma.

You can’t have much of that if you are not confident in your appearance. People REALLY admire those of us who are over 40 and who are in GREAT physical shape. It’s just our culture. Do what makes you comfortable but take a look at many of the most successful people. I’ve seen many in the music industry and a majority of them are physically fit. Oprah Winfrey is the exception to the rule but even she is uncomfortable being overweight as she has expressed on many occasions.

Satisfied Customers

If people are not coming back to you, talking positively about your brand or supporting you… you are doing something wrong. McDonald’s does not have to ever do another TV commercial because people already know who they are. How many people do you know who have only been there once? Not many I take it, Make sure you find the hole and completely fill it if you want return customers. All of the writing in The Biz Tipper (biztipper.com) may not be duplicated or copied without the permission of Kevin Ross ([email protected]). We consistently check across the web to make sure our articles are not copied. Please respect our site.

Michael Baisden just lost his contract of 10 years broadcasting his radio show on over 20 radio stations nationwide. Baisden owns his own show and used Cumulus media to garner affiliates (stations) to run it. His commentary is below about the situation.

Michael Baisden Commentary: A Man With A Plan And A Man Of Principles

I don’t understand why people get so angry when they get fired from a job or dumped in a relationship. Didn’t they see it coming? Or are they so caught up in the “vapors” that they develop a case of selective amnesia?

The day that someone comes to work for me, I tell them to start planning for life after radio. “What is your plan?” I ask them. And if we’re within 3 years of the end of a contract I have a meeting with my staff and tell them, “Start planning to leave, now!”

When someone let’s you go in business or relationship, there’s no time for anger, that’s the time to execute your plans. That’s right, I said plans with a capital (S) because you’d better have a plan A, B, and C. And D, if possible.

Today’s world is not the one our parents grew up in where you can expect to work 20 to 30 years in a factory, get a pension with benefits, and live happily ever after. Those days are long gone! You better start planning for retirement at 25 if you’re serious about having enough money to enjoy your golden years! It’s that serious.

Life after radio for me is not going to be an issue because unlike many celebrities I did not spend my money on fancy cars, making babies all over town, purchasing big houses, and bling blinging with extravagant jewelry.

My truck is 5 years old, I have one daughter and she is about to graduate college next month, and instead of buying one of those huge “MTV Cribs” I invested most of my money into rental properties. As the saying goes, “If it’s on your ass…it’s not an asset!”

We must stop being slaves to our possessions. When we do that we put ourselves at the mercy of those who would take advantage of us. Stop showing off, being flashy is a sign of insecurity. Real wealth does not show off, it moves in silence.

And above all else, we must set standards and stick to them. Yes, my radio career is over….FOR NOW! And although I may not have the same paycheck come April 1st, I can look at the man in the mirror and be proud of the reflection of the person looking back at me. And that’s what being a real man and woman is all about, having your business in order and standing by your principles.

Good Night Family
Michael Baisden

Running a legitimate business is no piece of cake. We go in it to satisfy a passion but we don’t count on the many elements that go with that passion. Deadlines, orders, payroll, hiring, vendors, bills, personal life etc. These can all be managed initially by us but as time goes on we have to come to the decision to start hiring people who have the ability to either duplicate us to have strengths where we are weak. Here are some tips to help you along the way. These are the reasons we often DON‘T hire someone and the reasons that we SHOULD.(click “Next” above or below)—————————–

No Budget

Let’s face it, it’s oftentimes hard enough to keep our own heads above water and to pay our own bills after all is taken care of with the business but hiring someone else puts us in even more debt. Or does it? Believe it or not NOT hiring someone will often hurt us more in the long run. Entrepreneurs must learn… WE CANNOT DO IT ALL not matter how hard we try and we may be able to pull it off for a long time but the downside is WE NEVER GROW. So if you want to be in the same place that you were 4 years ago in your business and you want to age 8 years… keep doing it all yourself. If you don’t have the budget, hire someone part time or on a temp basis. This is a great way to check out a future prospect for full time. (click “Next” above or below)—————————–

Afraid of hiring the wrong person

This is entirely legitimate and I have made this mistake several times. People will always be on their best behavior when you are about to hire them then they can flip the script once you do. My suggestion is to put everyone on 90 days of probation like large corporations do. This is an excellent tactic because few people can wear a mask that long and this is a long enough period for you to not only gauge their effectiveness but also their reliability and dedication. I would also suggest giving them very little slack. There are times when employees will be late but if it happens twice within that period or they have excuses for not completing their work, they are out. (click “Next” above or below)—————————–

Wasting time training

This is another legitimate concern. You take the time from your already busy schedule to train someone who ends up leaving or not working out. That’s time you could have been working. Well all is well that ends well or not so well. At least you tried. However, this is NOT the time to give up and hold off for a few months because of this bad experience, you simply have to do it again or if you are lucky you have an employee who thinks like you who can show them. (click “Next” above or below)—————————–

Not able to keep an eye on the person and run the business

If you make one of the qualifications that the person has to be a self starter you can give them some autonomy and if you can’t keep an eye on them get one of your employees to for you by asking them to help them out if they need it and then have a talk with them to get an assessment.

Ultimately, as your business grows, you want to have the time to focus on expanding. Who wants to remain in the same position forever? The best advice I can give once again is to find one main employee who can do what you do to help you hire and train. They know what you are looking for and can often be a great asset when it comes to hiring employees. Best in business…

Kevin Ross

I have included a link to an EXCELLENT video by TD Jakes about leveraging your time. What are you going to do with the time that you have left? In this video about repositioning yourself, I literally almost fell out of my chair when Jakes speaks about “the 10s” the fact that 10 is the multiple of all greater numbers and that black entrepreneurs often get stuck on the first level of 10s because we are afraid to go to the next level.

I have talked in this blog about being drained from people picking my brain and making me the go to guy for everything. For the longest time I felt I was getting nothing in return for my business knowledge and experience, people were using me and getting everything for free. Truth be told, certain people should not have access to you once you have reached a certain level in your business and if they do have access OF COURSE they want free information, it is not only an indication of your success, the fact that others want to align themselves with you, it’s also an indication that you HAVE NOT GROWN! That might be a hard pill to swallow but it’s not their fault they want information from us, it’s OURS for not growing. We need to keep challenging ourselves and to keep growing. Just because we can now do the business with our hands tied behind our backs doesn’t’ meant it’s time to rest. It’s time to grow. Clients can flip the script on us and competitors are always on our heels. Check out this video it’s a great way to judge where your business is. Video Link Here

Here is an excerpt from my book Mind Your Own Damn business. These are some of the biggest mistakes I have seen many black business owners make and the lesson’s I’ve learned the hard way over the years. PLEASE NOTE, this is not applicable to all black black entrepreneurs but these are the black entrepreneurs that I personally steer clear of. The bottom line, don’t ask anyone for something you are not willing to give yourself. Enjoy… (click “Next” above or below to see more)
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We’ve got some GREAT ideas…but

I’ve seen and heard some of the most remarkable ideas from black potential black entrepreneurs. Everything from music production to publishing to specialty restaurants to wedding planner to hair and make-up break-thru formulas. There are many fields where African American’s dominate but have little or no control of the business. The most prevalent of those area are: Sports, Entertainment, Hair and Specialty Foods. Why are you giving your ideas away when the business could be YOURS? And where is the implementation? We have ideas but no way of implementing them and no plans as to how it can be done. Before you tell ANYONE what your plan is, figure out how you can do it FIRST.
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Hook a Brotha Up!!! (how incredibly annoying)

These are the people that you usually only hear from only when they need something from you…they only call on people for favors in business but expect to be paid top dollar when they give help to someone else. We don’t want to be ripped off or taken advantage of but a lot of the time, it is exactly what WE do and worse yet to our black contacts. We dare not ask our white contacts to “hook us up?”  We want special treatment again and again or we deliver half backed goods for a fully cooked price. Please know that while people will do you favors from time to time, it becomes annoying when you are CONSTANTLY calling them for favors. We don’t often know when to be classy about the exchange either. I’ve had “friends” call me for concert tickets not just for themselves but for 3 other people too. That’s tacky and nobody wants to be used. Moreover, if you keep calling in favors the person you are calling will eventually stop taking your calls. Then we often accuse them of “going Hollywood” and “forgetting about where THEY came from”
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“The world REALLY does not owe you anything”

It would be nice if the world was our never-ending credit card, streaming endless currency to us whenever we wanted it.  Just because you have struggled in the past, it does not mean the world owes you something in return. I myself thought this too which was why I started my first business. I thought people should buy from me FIRST because I’m … WRONG! People should buy from you first because you area great resource for them and provide the services they need.  Complaining ALWAYS looks like sour grapes. Even if there is legitimacy to what you see in racism or favoritism, the people you are accusing of it don’t and will never see it the same way YOU look at it or they will shut down on you and not deal with you. Yuu will look like the bad guy. There are just some things that are KNOWN and don’t need to be said. Do you really think someone is going to give you an opportunity after you attack them?  HELL NO, they are not…. and I guarantee you that you will get very old and very bitter, very quick waiting. I’ve seen it happen time and again.
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Use Your Current Job as College or Temporarily Work in the Field You’d like to Start Your business In

No matter how much we hate our current jobs the best way to look at the situation, I’ve learned, is to start using my jobs as “college.” I used Urban Network that way when I worked there many years ago. There was a lot of strife, in-fighting and power struggles amongst the management. I let them beat the hell out of each other while I learned how the system worked. When they fired me, which I knew they would eventually, I took what I learned and started my own industry trade magazine and there was nothing they could do about it. My employer became my competitor and my brand is still around. I’m not bragging, I’m making a point. Look at your job as  I’m taking a course and I’m getting a stipend for learning. I give the job a certain amount of time to complete the required courses and when I’m done, I’m ready to graduate to earn my next degree in business. If I wanted to open a coffee shop, I’d go and work at Starbucks for a year. What an invaluable experience and education that would be FIRST HAND…. AND I would be getting paid for it? Instead of going broke going to some overpriced college that wants me to take out student loans to learn how to do it for 2 years. Then I owe for my education when I could have gotten it, not just for FREE but PAID for it? I’m sure you get the point.
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“Never tell anyone your plans, goals and dreams UNLESS they can help you”

As black people, we have such a dire need for approval. Mostly because it drives not just us but the human race. But we must realize that people will never see for you what they can never see for themselves. If a young awkward looking, tall thin black girl tells her family or friends that she wants to be a model, they may laugh at her and she may accept that they are right and forget about her dream. Even though she grows up to be outrageously beautiful and her dream could have very well been a reality. The people she depended on didn’t believe in her which caused her not to believe in herself. This is why black black entrepreneurs would never tell someone else they can’t do something. Because we learn through doing business that anything is possible and our confidence to have our own businesses skyrockets to a level we never thought possible. If the potential model pursues that goal without telling her family, they will usually be the same people who will say “I always saw something special in her, I knew she would be a star” My cousin used to tell me “Everybody Loves a Winner!” and they want to be associated with them, even if they have nothing to do with their success. That’s our need for approval on the reverse. We want to take responsibility for all that’s great and shy away from what is negative. That’s not just black people, that’s the human race. So in essence, it is best to pursue your dream and keep your mouth shut, especially if the people you want to tell have no understanding of what you are pursuing. I have to tell the truth about my people, we can be some of the most negative people when it comes to encouraging each other.
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It’s all in the Presentation…

This is probably one of the MOST important things you will see in this guide. P-R-E-S-E-N-T-A-T-I-O-N! The picture is another kind of presentation which is also important but I’m talking about how you present your idea before you get to this point as well.
I don’t care what kind of business you have if you don’t present it, yourself or your documents right, you are almost DESTINED to fail. The first line of presentation is your idea. Just the other day a gentleman called me with an idea he had for a magazine. He was all over the place. I kept asking him if he had a business plan, you really don’t nee a FULL plan but just some idea of what you want to do.  I also asked him about start up capitol. He kept skirting around the questions. I asked him about investors and he didn’t trust anyone. As he went on and on about how he was going to get his business off the ground and the team he had in place, I lost interest. His lack of direction just sounded like someone mumbling after a while. It sounded like he was confused…. and if he sounds that way to me, how will he handle the business and how will he sound to anyone else that he presents this idea to? He made several common mistakes potential black business owners make they are as follows:

• Disclosed his idea to me without the pieces in place.
• Refused to listen to or even act like he was interested in hearing my advice based on my experience in already DOING what he is trying to do.
• Shot down every idea I had for him to get his venture off the ground because he already has it all mapped out. (Then why is he talking to me?)
• Expressed his lack of trust for everyone which makes me wonder if he trusts me or MORE important…. if HE can be trusted.
• He already knows it all so I already know this is going to be a difficult situation to work in and usually the way you start out is the best indicator of how you will end up. If he won’t listen to me now, he never will.
• This is his idea, he doesn’t trust anyone, he wants it done a certain way, he needs my help and/or advice and he has no money? This, mind you, is something that it has taken me almost 15 years to learn.. If you put yourself in my shoes, even for two minutes, you can see how this is not going to work for me. What is the chance that you think I will do business with someone like this? If you guessed never, you are right.

MPM’s first artist under this agreement is JD Pantoja (@juandediospantoja) who’s debut single release under this agreement, “ERROR”, reached #1 on Spotify Top 200 charts in 11 countries and #1 on Apple Music Chart Latino Top 200 in 7 countries. The video of the song currently has over 34 million views on YouTube and, trended #1 in 14 countries and Top 3 in the US. “ERROR” finished the week at #2 on the Global YouTube Charts.

“We’re proud to say that our artists are paving the way for this business model to be successful.” – Luis Arellano, President of MPM Latin.

“It’s kind of an art AND a science to be able to tell which creators that are predominantly known for online videos/content can be taken seriously as credible musicians,” states Eric O’Connor.

“We’ve seen hundreds of online creators try to ‘make music’ over the past 3 years, and for the most part, it’s just ok. We have 2 artists that are signed to US labels that started on YouTube, DDG (@pontiacmadeddg) at Sony Epic and Pantoja.  So we’re on to something.” – Dimitri Hurt.

“It all starts with the music. You can have 15 million followers and just because you make a song that does great numbers, doesn’t mean that the ‘industry’ will accept you,” O’Connor cautions. “The music has to be great.”

“These guys have shown a proven track record of not only finding these successful acts early on but also in sticking with them to develop them and provide them with the strategy and resources they need to succeed and be great artists. UMLE is happy to be in business with MPM.” – Victor Gonzalez, President of UMLE. 

In its 3 year history, MPM has already earned 4 gold records, with the latest being certified by the RIAA, in April 2020. MPM songs have over 1 billion streams to date.