Keep Winning Info #4 - Tips on How to be a successful business owner.
In 2017, two-time Emmy and three-time NAACP Image Award-winning television Executive Producer Rushion McDonald launched his podcast, Money Making Conversations Master Class. Here’s a summary and breakdown of Rushion McDonald’s solo episode on Money Making Conversations Masterclass, including its purpose, key takeaways, and notable quotes. 🎯 Purpose of the Episode Rushion McDonald uses this episode to: Share his personal journey and lessons learned as a business owner. Offer practical advice to aspiring entrepreneurs. Reflect on common mistakes in business and how to avoid them. Encourage listeners to take ownership of their entrepreneurial path. 🔑 Key Takeaways 1. Start with a Plan and a Budget Many entrepreneurs fail because they start businesses without a budget or plan. Budgeting must happen before launching, not after. “You can't open a business and then try to set a budget… now you're playing catch up.” 2. Avoid Hiring Based on Familiarity Hiring friends or family without proper qualifications leads to inefficiency and conflict. Employees should be hired based on merit, not emotional ties. “Do not hire inexperienced employees because they are cheaper.”“Do not hire friends… it’s burnt me.” 3. Time Commitment is Crucial Entrepreneurs must be fully committed to their business. Rushion wakes up at 4:30 AM to work, emphasizing discipline and consistency. “Do you have time for your business?”“I get up at 4:30, Monday to Friday. That’s work.” 4. Consistency Builds Trust Inconsistent operations (e.g., opening late, changing menus) erode customer trust. Businesses must maintain standards to retain loyalty. “If Target’s sign was off on Thursday, Friday, Saturday… you’d think they were out of business.” 5. Learn from Mistakes Rushion shares his experience running a successful but financially mismanaged comedy club. Despite popularity, lack of planning and poor partnerships led to failure. “Hip Hop Comedy Stop… lines out the door… made no money.” 6. Use Free Resources He recommends the Small Business Administration (SBA) and SCORE for budgeting and mentorship. These organizations offer free guidance and support. “Do not step out there dreaming without planning… SBA and SCORE are free.” 7. Location and Logistics Matter Parking and accessibility are often overlooked but critical to customer experience. His comedy club suffered due to lack of parking and rising insurance costs. “I had no parking… bad things start happening.” 🗣️ Notable Quotes “You can't look at $10 as a real $10.” “You cannot win like that… running a business based on friendship, no budget, family, and a partner I didn’t know.” “Only you look in the mirror and make a decision that benefits you, your family, and your future.” “Dreaming without planning will slap you in the face and wake you up into a nightmare.” #BEST #STRAW #SHMSSupport the show: https://www.steveharveyfm.com/See omnystudio.com/listener for privacy information.
1 Tammi 202523min
Comedy Roulette, What You Say Vs What You're Gonna Do, He Took It Out At The Dinner Table, and more! - 12.31.24
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31 Joulu 20241h 31min
Job Placement: She increases employee retention through career readiness training.
Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Brenda Johnson. She is the CEO of the Collaborative Training Company, an Atlanta-based management and professional services consulting firm founded in 2018. She has over 30 years of experience in the corporate and nonprofit sectors, serving in various management and senior leadership roles. Following a 15-year career as a licensed Civil Engineer, Brenda pivoted to the nonprofit sector where she focused on addressing social, racial, and economic injustice. As a former Regional Director of Year Up and former Manager Director of the OneTen Coalition, she worked to expand access to wealth-building opportunities for under-represented populations and historically excluded communities across the country. Brenda earned a Bachelor of Science in Civil Engineering from Purdue University and is a Certified Corporate Trainer, Certified Scrum Master, and alumna of the McKinsey Black Executive Leadership Program. A native of Indianapolis, Indiana, she has enjoyed the lovely weather and southern hospitality Atlanta offers for over 25 years. Company Description * The Collaborative Training Company (CTC) is a professional services consulting firm providing professional development and career readiness training. CTC supports human resources business units by designing and delivering customized workshops that increase employee retention - maximizing human capital investments. #SHMS #STRAW #BESTSupport the show: https://www.steveharveyfm.com/See omnystudio.com/listener for privacy information.
31 Joulu 202425min
Financial Tips: She's an independent mortgage broker focusing on accountability, consistency, and her innovative tools.
Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Latrease Price Gistard. Aan independent mortgage broker based in Houston, Texas. Here are some key highlights and themes from the conversation: 🎙️ Guest Background: Latrease Price Gistard Originally from San Antonio, Texas. Background in finance since 1999, including investment operations and auto financing. Co-owned a car dealership with her husband, focusing on first-time buyers. Transitioned into mortgage financing, licensed in 2018, and became an independent broker in 2022. 🏡 Mortgage Expertise Independent Mortgage Broker: Works with multiple lenders to find the best loan products for clients, including those with unique needs (e.g., self-employed, first-time buyers, citizenship issues). Reverse Mortgages: Typically for seniors 62+ with significant home equity. No monthly payments; debt is repaid when the home is sold or refinanced. Useful for those with limited retirement funds or high medical costs. Zero Down Payment Programs: Offers up to 3–5% assistance, either rolled into the mortgage or used for closing costs. Credit Score Considerations: Programs available for scores as low as 500, though higher down payments are required. Offers “what-if” scenarios to help clients improve credit over time. 🛠️ Special Loan Programs FHA 203(k) Loans: Allows buyers to finance both the purchase and renovation of a home in one loan. Covers anything from minor repairs to major remodeling. One-Time Construction Loans: Offered through United Wholesale Mortgage. Combines land purchase and home construction into a single loan. 💡 Advice for Aspiring Mortgage Brokers Ensure sufficient capital before going independent. Build a strong client pipeline. Be mindful of economic conditions (e.g., interest rates). Avoid hiring unqualified friends or family—focus on business needs. #STRAW #BEST #SHMS Support the show: https://www.steveharveyfm.com/See omnystudio.com/listener for privacy information.
31 Joulu 202428min
Things That Ain't None Of Your Business, Resolutions, All I Said Was..., and MORE! - 12.30.24
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30 Joulu 20241h 24min
Brand Building: Sharing how he learned branding, product development, and marketing.
Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Arrington Gavin. CEO and Founder of Rugged Evolution Beard Care, about entrepreneurship, brand growth, and the evolution of men’s grooming. 🔑 Key Themes & Highlights Building a Premium Beard Care Brand Gavin turned his passion for wellness and personal care into a thriving business. His company, Rugged Evolution Beard Care, offers all-natural grooming products designed for beard health and maintenance. Self-Education & Business Growth He emphasized the importance of self-education in entrepreneurship, sharing how he learned branding, product development, and marketing. Gavin discussed overcoming early struggles with confidence and becoming the face of his brand. Breaking Stereotypes in Beard Culture He highlighted how beard grooming has evolved, breaking old stereotypes and proving that self-care is essential for men in all professions. His products cater to a diverse range of beard styles, from goatees to full beards. Community Outreach & Giving Back Gavin is committed to mentorship and philanthropy, including his Back-to-School Drive, which provides essential supplies to underserved students. He encourages young entrepreneurs to turn their passions into businesses while making a positive impact. 📘 About Arrington GavinArrington Gavin is a philanthropist, entrepreneur, and media host, known for his bold discussions on business, grooming, and leadership. His company, Rugged Evolution Beard Care, has gained national recognition for its premium, all-natural products. #STRAW #BEST #SHMSSupport the show: https://www.steveharveyfm.com/See omnystudio.com/listener for privacy information.
28 Joulu 202420min
Dumbest Thing You've Done For Love, Steve's Creole Food Story, Would You Rather, and a lot more! - 12.27.24
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27 Joulu 20241h 31min
Faith and Business: Built their business teaching their teen boys about entrepreneurship and created a snow cone company.
Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Marcus Sonnier. Marcus and his wife, Marvis, realized their sons, Ryan and Dylan were very good, and experts asking for money as you would expect from teenage boys.They decided they needed a way to earn some extra income, while also learning the values of being an entrepreneur.From that idea, Snowie Atlanta was born. They have been involved in every aspect of starting and developing this business, which has been a real eye opener for them. They are now starting to understand the hard work, dedication as well as, costs associated with opening and operating our own business.Their hope and prayer was that they learned operating our shaved ice business would provide them with skills that will guide them throughout their lives. Company Description *Shaved Ice is our SWEET spot!! We are a top-tier food truck with a focus on customer service. Talking Points/Questions *1) What was your reason or your “Why” that caused you to start Snowie Atlanta?2) Is it true that you worked a full-time job for 5 years while building Snowie Atlanta?3) What sacrifices had to be made along the way?4) What made you leave a successful career as the VP of Field Supervision at a large Financial Services Firm?5) What advice would you give to other entrepreneurs reluctant to follow their dreams? #AMI #BEST #STRAW #SHMSSupport the show: https://www.steveharveyfm.com/See omnystudio.com/listener for privacy information.
27 Joulu 202427min
