Win $10,000 in Black Enterprise's Homeownership Contest

Are you in the market for a home ? If so, compete for $10,000 in BlackEnterprise’s Homeownership contest.

Here is your opportunity to make your dreams of homeownership a reality. Only legal residents of the continental United States who are 21 years of age or older as of September 16, 2009, and who have never purchased a home are eligible to enter this Contest and win the $10,000.00 prize. Applicants must also demonstrate the ability and intent to purchase a Home between November 1, 2009 and February 26, 2010 calendar year. There are more rules on the website.

Don’t apply now. Apply RIGHT now!

Find more information at http://www.blackenterprise.com/homeownershipcontest

Have A Great Business Idea? Compete in the MillerCoors Urban Entrpreneurs Series

Have A Great Business Idea? Compete in the MillerCoors Urban Entrepreneurs Series.

Are you trying to get your business off the ground? Need money? If you believe you have a great business idea, prove it. Send your business plan to MillerCoors Urban Entrepreneurs and compete for more than $100,000.

The contest is open to all current and aspiring business owners. You can win a grand prize of $100,000 or one of four $25,000 business grants. All you have to do is fill out the application. Of course, there are rules.

Find more information at http://www.millercoorsmues.com/

Inside the Mind of Russell Simmons

Russell Simmons is the original hip hop mogul. In 1984, Simmons and Rick Rubin founded Def Jam Records. In 1992, Simmons launched Phat Farm and Def Comedy Jam . His philanthropic efforts include the Hip Hop Action Network and RUSH Arts Foundation. Simmons wrote Do You!: 12 Laws to Access the Power in You to Achieve Happiness and Success to help you get to the next level.

My favorite passage in the book is when Simmons recalls pitching “Run’s House” to MTV. He talks about how he had to personally follow up with people, request meetings and convince green-lighters to give the show a shot. I thought MTV might be eager to work with Simmons, considering his track of success as producer of Def Comedy Jam and The Nutty Professor. Through his story I learned that there are no shortcuts for anyone, including Russell Simmons. We all have to prove ourselves. He shared more advice in the book.

Under Promise and Over Perform-Let the quality of your work speak for you.

Get A Rabbi- Find a mentor in your prospective field. Then, serve them and learn from them.

Be Authentic- Don’t imitate someone else. Be yourself and be aggressive about your goals.

Give Freely- Serve without looking for benefits. The benefit is the service itself. Simmons says, “money doesn’t make happiness, but, happiness makes money.”

You Become Who You Spend Time With- Simmons reveals, “if you hang with sweet and spiritual people you will become a sweet and spiritual person.” On the other hand, “if you hang around murders you’re going to get a body.”

I had the opportunity to interview Simmons. Here is an excerpt of our conversation.

Simmons is one of hip-hop’s wealthiest entrepreneurs. His latest ventures include American Classics, The Rush Card and Def Poetry Jam.

Workplace Leadership

I want to share a story with you about the worker that inspired me to be a better workplace leader. His name is Nathaniel Hine.

I came in for the first day of work. The supervisor was late. Nate walked up to me and asked if I was the new hire. He hadn’t seen our supervisor, so he volunteered to show me my work station and trained me on the assignment.


This is not unusual behavior for Nate because he was just that type of guy. You know those people who care about the work and not the credit. He took it upon himself to learn everyone’s job. He would also help co-workers struggling to meet deadlines. This made him invaluable to the company. The company took care of him and he took care of it. He exemplified the best type of leader. Nate did not scream that he was a leader. He lived it. His confidence made us confident.

It seemed like when Nate walked into the building all of the managers were at ease. They just knew he would do a great job and serve the firm as best he could.

I remember when Nate’s car was in the repair shop. He caught the bus to work. Fellow workers and managers volunteered to give him rides. But, he refused, not wanting to burden anyone.

From time to time, companies have to make budget and lay off workers. Nate is the type of worker that never gets cut. He makes himself invaluable with high quality service.

Eventually, the firm decided not to pursue a contract renewal on our current project. This effectively left everyone involved jobless. Afterwards, all the managers conversed with Nate. They asked about his future plans. They offered leads, referrals and references for him. They did this freely because they could trust Nate with their reputations. His work ethic would make them look good.

“That ain’t my job!”

The truth is your job is to add value. Leadership is not a title, its service.We all have to awaken our inner Nathaniels if we want to remain relevant in the workplace.

Picture found at blogs.lawrence.edu

From Tragedy to Triumph

Four years ago, Jerome Boykin, Jr. was looking forward to a bright future. He just welcomed a new son into the world. And, he graduated from Southern University of New Orleans and was planning to pursue a Masters degree in Business Administration. Then, a hurricane started its journey toward the Gulf Coast region of the country. Boykin, now 26, had braved other hurricanes and says he thought that he would “wait out” the storm.

“I did not think the storm would be that bad,” Boykin says. “Around here we usually wait out hurricanes.”

But, this hurricane was different. Hurricane Katrina ravaged the Gulf Coast region including New Orleans. Boykin returned to New Orleans and discovered a destroyed apartment.

“Mildew was everywhere,” says Boykin. “I lost everything.”

Click here to find out what went on in Boykin’s life at that time.

Katrina left Boykin homeless. He was forced to sleep on his parents couch back in his hometown of Houma, Louisiana. After four months, his father, Jerome Sr., gave him an offer he couldn’t refuse.

Click here to find out what happened next.

Jerome received a lot of media attention after starting JB Sweeping. Hear his take on it.

JB Sweeping is a million dollar company that’s constantly growing.

“I always wanted to start a business but I never thought about a sweeping company,” he shares.


Boykin shares his financial philosophy with the It’s Payday Family.

His Next Purchase

Boykin reveals that you too can turn your tragedy to triumph by getting in “grind mode.”

“Start today and keep building on your dreams,” he says. “You have to do whatever it takes to accomplish your goals.”

Picture at http://www.jbsweeping.com/

Wedding vs Family Business

Dante Lee is the co-founder and president of Lee Moss Media in Columbus, Ohio. Lee's writes a very resourceful and insightful blog . He recently wrote about financing a wedding versus financing a business. I have to co-sign on his sentiment.

On more than one occasion, I've seen family members come together to financially contribute to a wedding. $3,000 for flowers. $1,000 for a chocolate fountain. $5,000 for a wedding dress. No exaggeration: I've seen low-income families come together and raise thousands of dollars for a wedding that lasted a few hours, and a marriage that lasted a few years.

This same energy and passion should be used to come together to invest in a business that can make everyone wealthy, can last a lifetime, and can be passed down to future generations.

If a family got together and raised just a couple thousand dollars, they can open a store front, buy a franchise, and/or even expand an existing business.

Why not organize your family to invest in something that will yield a return and produce results that can financially empower everyone?

Check out Lee's blog at http://www.dantelee.com/

The New Year Will Be Here Before You Know It

Like millions of people, you probably entered the New Year saying you were “going to get mine in 2009.” More than half the year is gone. Are you any closer to realizing your goals i.e. {weight loss, starting a business, saving money} etc?

September marks the last quarter of 2009. Now is the time to build momentum for a powerful 2010. I reposted this to help you finish the year strong.

The sobering truth is we don’t have forever to accomplish our goals. Be encouraged here are a few tips to get you WARMed up!

Write It Down- Have you ever gone to grocery without a list and forgot to purchase an intended item? The same thing happens in life. If you don’t write your goals down you may forget them. Habakkuk 2:2 encourages us to write the vision and make it plain. Most experts agree that if something is not in writing you did not mean it. Writing you goals down reminds you to accomplish them. But writing is not enough.

Be Accountable- After writing your dream you have to be responsible and hold yourself accountable. You can do this by forcing yourself to progressively accomplish your goals. Or, you can ask someone you trust to hold you responsible. Try to accomplish small steps toward your goal every day.

Reach Out- Connect with the people who can help you achieve your goals. Clearly communicate your goals to your mentors and coaches. Listen to their wisdom and guidance. Networking guru George Fraser always says, “you are one relationship from where you want to be.” Cultivate the relationships you need to accomplish your goals. Join that professional organization, go to that conference and check out those weekly mixers. But remember to add value to your connects. Nobody wants to be used.

Effectively Manage Resources – You don’t have a minute, dollar or relationship to waste. You have to economize your resources. Manipulate those resources in a way that brings you closer to realizing your goals. Constantly evaluate how you are managing your time, money and relationships. Are you spending too much time with losers? Do you really need those bonus cable channels? Can you afford to waste one cent in this economy? Your resources have an important role in helping you realize your goals. Use them wisely.

Picture provided courtesy of plus.maths.org.

8 Financial Tips from Michael Jackson

Michael Jackson was one of the highest earning entertainers of all time. He earned more than $1 billion during his 40-plus year career. Here are a few business tips from the man in the mirror.

Know Your Value- Off the Wall sold more than 10 million copies worldwide. He outperformed his peers and demanded the industry's highest royalty rate. When Thriller was released, he earned 37 percent of the wholesale price.

Be Innovative- At Motown's 25th Anniversay special MJ performed his signature moonwalk. Then, no artist sold behind-the-scenes footage before Thriller. The gloved one transformed the entertainment industry. With the videos for Beat It, Billie Jean and Thriller, Michael changed the music industry forever. Innovation helped him moonwalk all the way to the bank. Being innovative gives you the competitive edge.

Invest in Appreciable Assets- In 1985, Jackson acquired ATV Music for $47.5 million. Ten years later, he sold half the company to Sony Music for $90 million. He earned nearly double his investment and maintained half of his equity. At his death, the company is worth more nearly $1.5 billion. That’s a nearly 16 percent in annual compounded interests. This asset also provided tens of millions of dollars each year in passive income for MJ.

Expand Your Reach- Remain authentic to your niche’ or target market. But, also make your product accessible to a bigger audience. MJ’s music and products reached the global market place.

Surround Yourself with the Best- Jackson was a perfectionist. He also wanted to work with the best and most capable lawyers, financiers, songwriters, choreographers, directors, etc. He maintained his competitive edge by surrounding himself with the best people.

Protect Your Work-Lawyers and business people knew Michael as an astute business man. He obtained patents and copyrights for him exclusive dance moves and music. He fiercely protected his intellectual property.

Extend the Experience- Jackson earned hundreds of millions of dollars from merchandising, joint venture and licensing deals. There were Michael Jackson video games, dolls, lunch boxes, t-shirts, etc. Find ways to repurpose your products and services to generate revenue.

Develop Your Skill Sets- Many of his friends and co-workers complimented Michael’s tireless work ethic. He researched all of the top artists, dancers and entertainers he admired. He was constantly evolving and learning new skills. He had an insatiable desire to learn and grow.