The New Ownership Revolution

One of the major keys to generational wealth is ownership! There are several things to own, but in this episode, John dives in to lucrative small businesses. 

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Episode Transcript

Speaker 1 (00:00):
Welcome the Money and Wealth with John Hobryant, a production
of the Black Effect Podcast Network and iHeartRadio. Yo, this
is John O'Bryant and this is Money and Wealth, the
podcast series on Black Effect Network on iHeartRadio. I want

(00:23):
to first thank all of you for making my weekly
pullpit of finance. I'm Money to Wealth, a top one
hundred business podcast on Apple Podcasts and Top fifty. Actually
it's really top forty entrepreneurship podcasts, not just here in

(00:44):
the US, but increasingly around the world, South Africa, the UK, Chile,
number of places around the world is really quite inspiring,
the Middle East, Saudi Arabia, I'm to even told, so
thank you and spread the word and tell folks to
follow the movement. This is the silver rights man, from
the streets to owning the suites. There's a room for all.

(01:05):
There's enough room for all of us. That's what this podcast,
this episode that today is actually all about. We're not
trying to replace anybody in this conversation. Be very clear.
This is about expanding the table. To quote my friends
definite rule to expand the table and add a chair.
Expand the table and add a chair. We have a
fiscal crisis in this country, meaning that we owe a

(01:26):
lot of money the government, federal government does. But you
can't just cut yourself out of this crisis. You cannot
without destroying America itself in my opinion, because America is
not a country, She's an idea, and we can make
her anything we want, or we can destroy her and
depress her and uninspire the aspirants when in her who
want to be part of this American dream. This has

(01:48):
always been about people at the bottom trying to get
to the top. That's what's made this country. It's just
at the people at the bottom trying to get to
the top. Look a little different in this generation that
they did in the earliest early twentieth century, when it
was mostly European strivers from struggling European countries, whether they

(02:09):
were Poland, Polish or Irish or Italian then Jewish or
whatever they were, you know, white in European and all
good by the way, and there was a desire to
get them from the bottom to the top. The New
Deal after the war, the programs put in place that

(02:34):
helped folks to get a mortgage in a trade, the
Marshall Plan, etc. They rebuilt Europe and Japan in Germany,
but also invested in the gi built, etc. Invested in
returning gis that built the middle class which was primarily Caucasian,
and again all good. There's nothing wrong with that, no

(02:56):
problem with the these whatsoever. In fact, women, white women
benefited from black people striving in the Civil rights movement
because they was designed as a firmative action turned into
the first broad based women's rights moving nineteen seventy two
nineteen seventy four when a firm reveaction from Nixon and
most of Abraham Lincoln. President Nixon, a Republican who qualified

(03:19):
a firm reaction, by the way, By the way, Republican,
also created the Minority NBDA Minority developed Minority Business Development Agency,
which is interesting. No one ever mentions that he was
a women's rights president an environmental president. This is President Nixon.
By the way, I'm not advocating for Nixon. He was
a crook. I'm just saying it's odd that something that

(03:40):
was created by a Republican president is now being vilified
in some way. But anyway, the efforts there to empower women,
which included white women, Black women, Latino women, Asian, Indian,
you know, but it started with white women. That effort
is now a third of the US economy, a third

(04:01):
of the US GDP are women. Fantastic And if we
hadn't done that and hadn't gotten that right, we be
an also ran country today. We would not be the
largest economy in the world, the soul superpower in the world.
Thirty trillion dollars of GDP. About seven trade of that
is or comes from women. So we got that right,
and we've got to get that right again. So there's

(04:23):
something happening right now. And again I keep saying. The
color is not black or white, are red or blue,
it's green. It's economic right. I want you to learn
a new language. This is the silvil rights movement. Silv
e R. People are going to correct me. No, John,
don't you mean civil rights. No, I mean civil rights,
civil rights. Those rights were secured and we needed it.

(04:46):
Racism and discrimination, bias is real problems in this country. Slavery.
My second great grandfather, second great grandmother were both slaves.
It hurts me even say it. My grandfather what Yeah,
my grandfather my dad side was a sharecropper. RB Smith.
George Young was on my father's side. The second great
grandfather was a slave who fought in the Civil War

(05:11):
responding to Abraham Lincoln's emancipation Proclamation calling and so he
escaped slavery and went to go fight for the Union cause.
I guess where I get my social justice bones. My
second grade grandmother on my mother's side, Winnia Smith, my
dad's Johnny Smith. She owned a home if she escaped,
she left slavery. She ended up owning a home with
no mortgage on it. Hello, and had a border. Somebody

(05:33):
read it from her, so she was self reliant. So
you know, we're a country that unevenly does reward people,
has rewarded people from going from the bottom to the
top right, And with all our problems, it still can
produce somebody like me who started in Common, California and
South Carola with nothing, homeless when I was eighteen years

(05:55):
of age, as in my book, up from nothing if
you want to read about that. And now's the top
point zero five percent of all wealth and income in
this country legally paying my taxes, you know, doing it straight.
And that's because I embrace financially recy as a civil
rights issue. This generation, in this new mood of civil rights,
silver rights and you say it slowly, Silver rights right,

(06:19):
And in what I call the third reconstruction, this period
between twenty twenty and twenty thirty. First reconstruction with Civil War,
second reconstruction with the Civil Rights movement. Third reconstruction is
now and it involves all of us, including my poor
right brothers and sisters in rural America. But it also
includes middle class people. If you're listening to this and
you're middle class, you're cont educated or whatever. Irrespective of

(06:40):
your age, your race, or whatever, you probably have too
much month at the end of your money. Help, can
I get an AMA? Right? So we're all in this
thing together, and we're all looking for an exit door
and an aspirational door. How do we come up? Right?
You can't cut yourself out of this crisis. You have
to grow yourself out of it. Yes, there is some
government waste, and yes that's you know, President Bill Clinton

(07:04):
had a whole commission on government waste. And this president
should approach, you know, looking for any government waste. He
can fantastic, no problem with it. Whatsoever we do it.
We should do it in a thoughtful, intelligent way. We
all agree on that. But you can't just cut yourself
out of a crisis. You have to find new forms
of revenue, and I think I've tripped on one. I

(07:29):
am going to share it with you in this episode,
and I'm going into in what less than one hour's time,
give you a roadmap for you to frame this out
for your own life. And I want you to tell
everybody about this. This is open source empowerment. I've written
the business plans. On the fifty seventh anniversary of Doctor
King's assassination, which was April fourth, we had a dream

(07:50):
Forward event and I issued business plans. I encourage you
to go to dream Forward on the operational website, or
just type in dream Forward in my name. It'll come
up and download the business plans I wrote for rural America,
which includes by the way, poor struggling whites, that I
wrote for women, that I rode for Asians, a business
plan I wrote for a Latino Americans want, a business

(08:12):
plan I wrote for Native American Indians, a business plan
wrote for Asian Americans right, and I wrote one for
African Americans because we're at the bottom of the economic
pyramid and we were the only ones enslaved in American soil.
And when you read that business plan for African Americans
in particular, if you're African American listening to this. By

(08:35):
the way, this I think I think I mentioned I
wrote one for women. Also. By the way, whatever the
business plan you read, you're going to see an opportunity
for you that's going to jump out at you from
what I'm about to share with you. With this one
hundred trillion dollar wealth transfer, all this stuff's going to
start connecting and tying in what am I doing at
Operation Hope. By the way, I founded the largest financial

(08:55):
literacy coaching organization in America. Why because we need economic plumbing.
I mean I have a private banker me right, But
the poor, the struggling class, the working middle class do
not have a private banker. They don't have people they
can call, systems that they can lean on. I just
signed just now earlier before I did the podcast, I

(09:17):
signed a line of credit for a few million dollars.
It's unsecured. Essentially, it's on my name, and yes I
guarantee it's real limited liability corporation, but I'm the guaranteur.
But it is not tied to business or real estate
or a cash flow situation or I mean it is
literally on the credibility of my name. The word credit

(09:38):
comes from the Latin root word credit dump, which means
credibility has nothing to do with money. Capital comes from
the Latin word copy toss, which is loosely translated again
Latin knowledge in the head. I'm trying to get you
knowledge in the head, so you can fight this battle
from the shoulders up, not the shoulders down. You don't
have to fight with your hands civil rights anymore, walk
with your feet. You can win this battle. You can

(10:01):
become dangerous, as my friend Tim Burd would say, dangerous
from the shoulders up, from the neck up. And I
want you to master this game. That's why this game
of capitalism, which we're not done and we're not to do.
But it's what we don't know that we don't know.
This killing is what we think we know because no
one's ever taught us financial literacy, which is a civil
rights issue of this generation. In my opinion, no one's

(10:21):
ever taught us a capitalism and how the system works.
So my last book, Financial Liucy for All, which is
number one for the last fourteen months plus. Now it's
out in paperback. Please don't get it at Walmart, which
is a big partner in support of ours. I want
to support them. Go get it at a black or
minority bore bookstore, you know, also get it at Amazon
where it's number one listed. It's been listed. But but

(10:42):
go to Amazon. I mean, so go to you for ease,
go to Walmart and go to Amazon. It's a little
bit more work. But if you can't get it at
a small bookstore, business bookstore or black bookstore, minority book bookstore,
then you're helping that that small business. By the way,
so I'm trying to create economic plumbing for the bottom
half of this country so they can plug into an
economic system and come up from nothing. Let's get into

(11:05):
the deep, to the depth of this. If you're talking
to somebody, if you're passing this on to somebody and
you don't and they have limited time, tell them just
to start at minuty eleven. Okay, So here we go,
the baby boom demographic bomb. Let's start with the what
and why before we get to the how and where
and when. Well, you know, the wind is right now,

(11:25):
by the way, the baby boom demographic bomb. There's a
there's one hundred million. Sorry, the number is so big.
I screwed it up. Is one hundred trillion dollar trillion
with the tea. There's one hundred trillion dollar wealth transfer
that's about to happen. It's happening right now as we're talking,

(11:45):
as you're listening to this. It represents one of the
most significant economic, social, and demographic shifts in modern history,
certainly modern American history. The American is the largest economy
in the world, the sole superpower to this day in
the world. Other people want to be us, which is
part of what's going on here and why there's so
much friction in the world that they're trying to get

(12:06):
us to fight with us. The best way that if
you can't win in a fair fight, if you're in
North Korea, you're China, you're Russia, you're Iran, and you
want to take America's seat in the world, you can't
win in a fair fight, then you get us to
fight with ourselves right and and win because we lose,
not because you want. So they've got a cheated capitalism.

(12:28):
And I'm trying to get you to understand. The Bible
says that the house divide, it cannot stand. So if
we stand together, weally we realize we're better together and
we're one country, and we reset the American dream two
point zero, and then we figure out how to grow
in the next iteration of this country's aspirational growth. Then

(12:49):
we we we we surge again forward and continue to
be the light on the heel for the world. And
there'd be an OpEd coming out soon called the Bottom Third,
where I believe we need to take the bottom third
this country and tournament the capitalists. Okay, I'm so excited
about this topic. I'm getting I'm getting unfocused. Let me
get back so I can get you through within an
hour the substance of this, whether you're riding a bike

(13:14):
or driving to work or jogging or working out. I
want you to be able to get through a weekly
topic with me where I go deep and you're smarter
at the end of that hour. And if you're not,
you let me know. Who are the baby Boomers? I
like math because it doesn't have an opinion, And so
my friend Melody House in quote who are the baby
boomers born nineteen forty six to nineteen sixty four. I'm

(13:36):
not a baby boomer. The size is about seventy million Americans.
The age range between sixty one and seventy nine years
of age. Give or take the wealth ownership baby boomers
control about fifty five percent of US wealth are roughly

(13:56):
seventy five to ninety trillion dollars. The great wealth transfer
is between eighty four trillion and one hundred trillion of dollars.
This is US dollars and i'd pay soose and i'd
Russian rubles right, US dollars the flight the flight calling
in the world. The US dollar. By the way, the
whole purpose of many folks in crypto is to get

(14:17):
to cash out with the US dollars. So don't discount
the US dollar and know that was not a dig
at crypto. Okay, So I don't want to start another fight.
So eighty four to one hundred trillion dollars are expected
to be passed down between now and the year twenty
forty five, mostly from baby boomers to millennials and Gen xers.

(14:39):
Of that, sixteen trillion dollars is projected to transfer by
twenty thirty three. Now, just to be just this is
twenty twenty five, that's eight years from now. This is
like happening right now. Why is this a demographic bomb?
Because it's massive it's uneven and it's disruptive. The population
in America's agent. You've got more people under over sixt

(15:01):
sixty five than under age eighteen, and this is unprecedented.
And the folks who are under eight the over eight
sixty five for mostly Caucasian wealthy in this particular case,
and you know, and trying to retire. They're all trying
to go play golf at the same time. And the
ones that are under eighteen are all a lot of
them have a tan. They're diverse there, they're from different places.

(15:23):
They they're striver, they want to be strivers. Right right,
you're starting to see the picture here. Uh, there's going
to be a health So there's an aging population. Tens
of millions will retire or die in a short spirit
span of time. There's a healthcare strain. More seniors will
need care than the workers can support them. Right by
the way, this is an opportunity for you guys, and

(15:44):
come into that in a minute. There's a labor shortage
is coming. Key sectors will lose skilled workers. Again, you
cannot have a rainbow without a storm first, So a
problem is also an opportunity. All capitalism is is what
I call it gladiator sported. By the way, all capitalism
is a problems were really entrepreneurship is solving problems, which
feeds into a capitalist model. A housing supply shop. You know,

(16:17):
older homeowners will downside, sell or pass away. There's gonna
be a business succession crisis. And that's what this podcast
is about. Millions of small businesses and trillion dollars trillions
of dollars in value are owned by boomers with no
succession plan. Hello, please write this down. That was at
at minute number sixteen. The opportunity for young Americans is

(16:43):
to inherent assheads, buy businesses or inner new markets. The
risk is that there's a potential concentration of wealth, especially
if mostly most of this wealth is passed down to
those who are already wealthy. Just I mean an ownership
at shift in stocks, real estate, retirement accounts, Privately held

(17:04):
businesses will change hands. Boomers will sell assets to fund retirement,
possibly impacting economic markets. Eighty to ninety percent of this
transfer is expected to stay within white families. Don't get
angry about it. It's an is right and folks who
made it legitimately and honestly can do with it as

(17:25):
they will. If you made your own money. You'd like
to do with your money as you will. Right, people say, oh,
I hate rich people. No, you don't. You hate rich
people until you become rich. What you hate is a
game system, right, What you hate is a system that
no matter how hard you try and how hard you work,
you can't get ahead. But you know, I'm not black,

(17:48):
and this is a conversation. I mean, I am black,
and I'm proud of it. I'm green. That's just why
I told you about this line of credit that I
just inked literally before I got on the podcast, because
I'm going to position myself to do some of the
stuff that I'm telling you to do. I'm gonna create
my own private equity effort and go buy some companies
that I'm getting ahead of myself. So there are twelve

(18:14):
million privately held businesses in the US that are owned
by baby boomers, about thirty one million, thirty two million
businesses overall. By the way, about twelve million privately held
businesses that are owned by baby boomers the value between
ten and twelve trillion dollars. And the heirs don't want them,
the people, so baby boomers are going to again. They're

(18:34):
all trying to get to the exit door at the
same time. They're all trying to go play golf and
travel at the same time. God bless them. They've earned
the right. They're give the stocks to cash, the bonds,
the homes, the real estate to their wives, husbands, husbands
in the cases that the wives made the money, husbands

(18:55):
and wives and children, the lovers, whatever it's in. The
maids don't want the businesses that's work right, and they're like, no,
I'm good. By the way, there's a joke. First generation
makes it, second generation spends it, third generation loses it.
So a lot of people who don't They pass down

(19:15):
their assets, but they don't pass down their hustle. And
that's a whole other podcast for another day. But essentially
that's what this podcast series, and we're in season two now,
has been about. Its bout is really passing down the
how to demystifying capitalism, telling you what good capitalism looks like,
and training you so you can become a good capitalist. Uh,

(19:37):
you know, the joke would be in social social social
empowerment circles, it's not black lives matter, it's black capitalists matter.
Not just black lives matter, Black capitalist matter. But this
is again, this is this is a universal conversation for everybody,
but I am supersized in this conversation, uh, for Black
America because they're they're we're at the bottom of the
economic pyramid and we need to come up. And this

(19:59):
is a brit a brilliant way of doing it. So
let's now talk about let's get into the actual opportunity.
So this is one hundred trillion dollars that will transfer
in the next ten to twenty years. It's a once

(20:20):
in a lifetime opportunity for Black America and underserved communities
to advance through strategic acquisitions of aging businesses, ownership through
so there are give or take, you know, ninety six
percent of black owned businesses in this country ninety percent,

(20:45):
ninety six percent don't have an employee. And Operation Hope
has created inspired advanced about four hundred and fifty thousand
black businesses through the one Million Black Business Initiative and
other thirty one thirty two million businesses in America. There

(21:06):
are not enough that are able to do what I
call compounding, which is well you build wealth in your slip,
your sleep, and do that through compounding. So if you
only have one employee, which is ninety six percent of businesses.
Then you're a self employment project essentially, and you're just

(21:28):
making a living, maybe making a good living. But as
soon as you stop that effort, the business stops. But
if you have employees, you have systems, you have real estate,
you have infrastructure, then when you're sleep that business is
growing and you have technology. It's orders are coming in,
things are happening. When you're on vacation, things are happening,
and so on and so forth. So clearly you stop,

(21:52):
it stops. So we've got to find a way to
create black businesses that have the ability to scale. Now
you can start a business, and if you want to
start a business, I'm an entrepreneur, I start fifty of them.
I can't be mad at you. In fact, I would
encourage that. Generally speaking, one MBB one million Black Business Initiative,
our partnership with Shopify is encouraging that around e commerce

(22:15):
as an example. But there may be a smarter way
for you to go about this. And I'm going to
commit right now that I'm going to get Operation Hope
to start training you in mergers and acquisition and investment
banking sort of. This next this thing I'm talking about
in this podcast, I'm actually going to get Operation Hope
to do training around that. So I'm walking my talk.
So so stay tuned, stay tuned for that. Let's get

(22:40):
into one hundred trillion dollars and why should you care.
Let's get to the meat of it. Ten to twelve
trillion dollars in small medium sized businesses of this one
hundred trillion are going to be sort of orphans. Nobody
wants them. Now, keep in mind I've just said most
black businesses are self employment projects. They don't have infrastructure,

(23:01):
they don't have systems. Take your finger off the economic button.
Stop selling things. They just stop. They stall. So you've
got cash flow. Maybe you have riches because you have
a contract for income. But as soon as you stop that,
your altfhlox eat your inflow and that you're overhead, it
will be your downfall. You've not built any wealth. You
haven't build anything you can sell. You're building anything that
you can leverage up, franchise whatever. Right, so you can

(23:29):
go start a pizzeria yourself or whatever business you want
to start and raise the GoFundMe campaign or whatever fifty
thousand dollars or you can go buy something that already exists. Okay,
here's the drop of the mic. I'm talking about businesses
that have cash flows, that have customer lists, that have
real assets, that have infrastructure, that have systems, that have

(23:52):
a brand name right, they have reputation, they have credit lines,
have an owner that doesn't want it anymore. I'm so
excited about this. So again, ten to twelve trady dollars
and some all medium sized businesses that are going to
transition into new hands. The children in the family really

(24:12):
really don't want them. Over four million businesses are owned
by baby boomers, and again, seventy percent of these don't
have succession plans, no place to put them. Okay, and
they're great businesses. Baby boomers are retiring it. Hold on now,
ten thousand a day. There are ten thousand people a
day saying I'm out of here, I'm going to play golf,

(24:34):
I'm going to shop, I'm going shopping, I'm going to
go travel the world. And you know, let's just say
ten percent of those a thousand, of those, fifteen percent
of those a day, fifteen hundred of those have a
business that has no place to go. So Black America
currently own just two percent of US businesses with employees.

(24:58):
This is not charity I'm talking about. I'm talking about
capitalism with capacity. So we're talking about Black Wall Street
two point zero moment. If you want to call it that,
it's nationwide and it's inclusive. This is about ownership, which
is wealth influence, jobs, and community anchoring. This is if
you want to call it Tulsa, you know Black Wall Street.

(25:20):
This is Tulsa in every community in America. And this
is not a black business we're talking about. These are
great businesses happen to be owned by black people. Okay.
And when you create wealth, you then create You can
pass down philanthropy and you can start your own schools
if you like, and give charity to whoever you like.
You can create an entrepreneurship charter school in your neighborhood.
You can give to charities, your you can be enormously

(25:41):
philanthropical and support your family and friends. You're paying your
taxes now all of a sudden, lights are staying on
in your neighborhood. Now, now you have services, you have
credit scores going up. You have better grocery stores replacing
convenience stores. You have banks replacing check cashers. The whole
community chaines the tax pace goes up. Police are starting

(26:02):
to protect you, not prey on you. It's a whole
new situation when you turn green from just being poor
and whatever. And this is a way again to do
this at scale. So let me get very specific. Now
we're at mim of twenty six again. You tell somebody
go to minute twenty six. You have a local dentist
in Detroit with a thriving practice. Kids don't want it again.

(26:26):
You thought I was going to talk about some high
tech thing or some startup business. No, no, no, a
local dentist. That's a business, by the way, in Detroit,
thriving practice customer list. If you're living in dentist things
about if you live in dentists. If you live in Detroit,
think about the dentists that you go to. Right, you
live in Maryland, you live in Baltimore, you live in Washington,
d C. You live in Hawaii, somewhere you live in

(26:49):
I was just in Arizona. Just say yesterday speaking at
a CNBC CEO conference. You're in Tucson, writers flew out
of you're a dentist. You go what dentists do you
go to? Okay, they have a thriving practice. You're looking
at the owner. You know you can tell who an
owner is when you're in a win a business. By
the way, you're looking at the owner because you know

(27:12):
Bolkes on Wash rental cars. Like said, there's a whole
mindset with somebody owned something. You come in my business,
you can tell I own something. I've had people tell
me like, you're the owner, aren't you right? So that owner,
you see that owner, that owner looks sixty sixty five seventy.
They're trying to get that gu out of there, right,
make an offer. I kept getting ahead of myself. Family
run HVAC air conditioning business heating and air conditioning business

(27:36):
company in Charlotte, no succession plan architecture firm in Los
Angeles looking for a buyout. A regional black lead investment
group can buy these businesses and keep jobs local and
scale it up. Does to this is to be a

(27:56):
black lead investment group. It can be a limited liability
corporation with three friends that get together. I'm going to
get the capital in a minute, Okay, But you know
it doesn't have to be the sophisticated thing, although you
have to be going by it in a sophisticated way.
You need to go get you some business training, because
there's a difference between business and busyness, right right, and
so go to Operation Hope, go to the Urban Legal

(28:16):
or whoever you like, or to the SBA, get you
get yourself business trained, and we will scholarship you into
that as long as we continue to do well at
Operation to Hope, and we're doing pretty good right now,
thanks for all the support to our from our partners.
We will scholarship you into at least one year of
consumer credit training. If you're a small business owner, you
tend to use your own consumer credit in the short

(28:38):
term because your businessesn't have credibility or you well, you know,
we'll get you business training and entrepreneurship training if you
want that, in e commerce training, et cetera. So so,
think about these local businesses as you're driving down the street.
You're listening to this podcast. Right, Look up, there's an
office building. Right, there are hundreds of little businesses in there.

(29:00):
Look to the right of you. Look to the left
of you, there's a storefronts right, grocery stores, convenience stores,
gas stations, nail salons, barbershops. Help me out here. You
guys are watching this. You know grocery stores have already said,
convenience stores, shoe stores, boutiques, medical offices. Yes, that's a business.

(29:28):
They're everywhere, literally, they're everywhere. I mean, this unbelievable opportunity
I'm telling you about here. So the common barriers of
people saying this sounds great, John, but how do I
access capital? I don't have these relationships. I don't know that.
I don't have to know how you hang around nine
bro people, you'll be the tenth. I've told you that
it's going to change what you hang around. But these

(29:48):
are these barriers are are are overcomeable. So I want
you to look up all this SBA Small Business Administration
lenders right in your area and go see them. Go
get the know them. Look at the FDI C insured
banks in your area. They have banks have a CRA
requirement Community Reinvestment Act requirement, Go see them. If you don't,

(30:09):
if you're too intimidated to go to the bank directly,
or you don't know who to approach because the branch
manager is not going to be able to help you
too much. And what I'm talking about here, you need
to get to a level above that to the corporate
level at the bank. You can go to Operation and
Hope and we'll bridge you into these relationships. But I
want you to go to banks and talk to them
about CRA Community Reinvestment Act and how you might fit in.
I want you to go to the to ask them

(30:29):
about their did they have any venture capital arms or
private equity arms inside of their banks? Go to the
SBA Small Business Administration. Look for lenders and investors in
your area. Look for small business Investment corporations in your area.
Look up CDFIs Community development financial institutions in your area.
If I'm going too fast, just rewind the podcasts and

(30:51):
write it down. Financial education and credit score improvement. That's
through Operation to Help. That is a form of credit. Yes, sorry,
that is a form of capital. Actually, if you have
a five hundred or six hundred credit score, I don't
care how good your idea is. You're not getting a loan,
you're not getting an investment because your credits tow up
in the flow up, and no one's going to loan
your money because you don't pay it back. But if
you get your credit score up one hundred points, which

(31:11):
is what Operation Hope is doing in eighteen twenty four months.
Get your credit score up fifty four months and six months,
which is what Operation Hope is doing. We're raising credit
score is fifty four points in six months, lowering debt
thirty two thirty three, thirty fourhundred dollars, increasing savings twelve
hundred dollars. For somebody making forty eight thousand dollars a year.
We just made you bankable at prime rates. I'm going
to do a whole podcast just on the toolbox called

(31:34):
Operation Hope and walk you through the how and the
what do you like that idea? By the way, if
you do, let me know in the comments. So I
call this the Opportunity the ownership Opportunity Pipeline. Identify target industries, healthcare, trades,
real estate services, whatever you love. Educate young entrepreneurs about
M and A, not just start ups, mergers and acquisition. Again,

(31:56):
I'm gonna tell you the Operation Hope is going to
do that, but you can if you know about this
dude in your area. This is a form of financial literacy,
more sophisticated form. Launch acquisition apprenticeships for twenty five to
forty year olds. Encourage investors to back community led buyouts
use tax incentives and policy tools to support transitions of
these small businesses. So go to your mayor, go to

(32:17):
your county officials and ask them, are there any tools
in place to help these businesses transition. Maybe they'll put
something in place for you local. Most GDP, most gross
domestic product income for this nation comes from cities, not
from the federal government, not nationally, it comes from cities.
I mean Atlanta right now, tenth Lar's economy in the
entire country right five hundred and eighty billion billion, which

(32:39):
is the same size economy as Singapore, and it's built
on diversity, inclusion and dynamic economics small businesses. So imagine
what I want you to do is imagine one million
new black businesses by twenty thirty five. They're at scale,
not what we're doing just with right now with one MBB.
Imagine something by twenty thirty five that are at scale.
These are big businesses, are busines. This is with employees,

(33:00):
with profit centers, cash flows, brands, the next iteration of
business communities shifting from being renters of their future to
owning parts of it. Hello, can I get an amen?

(33:21):
Rebuilding the American middle class from the bottom up. So
ownership is the new civil rights. This isn't just about
making money, It's about building legacy. So I want you
to before I get down to the Capitol and where
to get it and all that stuff, I want you
to tell your friends and subscribe and share this poor,

(33:42):
subscribe to the podcast, share this episode, and I want
you to start asking around from folks you know. Who
do you know that owns a business? I'm nosy. A
god gives you two ears in one mouth if you
listen twice as much as you talk. I literally would
go walk into an office complex. I go walk into
an office building, I'd look at the register on the wall,

(34:02):
and I would see a business in the industry that
I think I'm interested in. I'd go up the elevator
if it was if the security guard downstairs did not
protect the access, and most places do not, I'd go up.
I'd look professional, wear a suit or a dress, or
look professional so you don't look like you're trying to
steal it, like you're trying to like you belong there, right,
and go up and go into that office and be

(34:27):
a little nosy. Right, do some research if you can beforehand,
figure out if you can figure out who actually owns
that business. You can do it in real time with
the internet. Make your phone a smartphone, not a dumb phone. Hello,
do use it for something other than concert tickets? Or
use artificial intelligence to try to figure out who owns
that business you're identifying on that registry and get a
little background on that business owner. And that business owner

(34:48):
is over sixty five. Hello, they may want out, Okay,
And I'm gonna get to what that means in a minute.
So I'm gonna do a whole masterclass series on on
and how you come up right and what this means
for you and all that. But now let meet just
in this podcast, let me get to ten accessible industries

(35:10):
for business ownership through succession or acquisition. I know you're asking,
like John, well, what businesses? Okay, here's some easy ones.
Home services industry sector number one plumbing HVA C. By
the way, there's a plumbing crisis. In this plumbing crisis,
there's a plumbing trades persons crisis a country. There's a
need for tens of thousands of new plumbers every year.

(35:31):
You can believe that electricians too. So you can't ai
here yourself out of the plumbing the pipes have burst, right,
you can't ai yourself by the fact that you know
your air conditioning shut has gone out. So plumbing is
going to always be involved. Air conditioning, heats can always
be involved. Electrical landscaping, pest control, right environments running around

(35:54):
your house like you just don't care howse fiscated you are,
how rich you are. Get that thing out of my house.
Call somebody right out. So these are businesses and they're
owned by somebody. Does that interest you? High recurring demand?
These businesses have a high recurring demand. They're often family owned.
These businesses generate between five hundred thousand and five million

(36:14):
dollars on average in annual revenue. This is so this
is you know, you can have a nice lifestyle in
this situation for you and your family. Second, the industry
dental or medical practices. These are solo or small group offices,
typically dentists, pedietrists, chiropractice right. Uh. They often have stable
cash flows, They have high value, often turnkey businesses. They

(36:37):
have tend to be tend to be a very good
loyal customer base. Number three funeral homes And by the way,
this is an industry that was largely created by Black
America because no one wanted to bury us. It's really
sad to say, but anyway, that's another podcast or of
the day. But funeral homes their recession proof. Hello people,

(36:59):
I don't know how you're going to long you're gonna live,
but I dang sure know you're gonna die. What's the mystery?
Recession proof? Strong ties to community and culture tend to
be very local. They have brands you trust. Many owners
want to keep it in local hands, and if you're
in the black community, they typically wanted to keep it
black owned in family feelings, so I tried to You

(37:23):
may think I'm ruthless here. My mother passed on the
glory and the people who took care or did a
really good job, and I was so impressed that after
the ceremony it was all this suff was over. I
actually asked the lady who was taking care of it,
you know, do you know the owners of this business?
I like to buy it from them. Now. I didn't
push on that because timing was sort of bad, but

(37:44):
I was serious, like I saw opportunity. But my mother
stayed in the senior living was a very nice one.
About fifteen minutes from our house, and it was like
a resort, and I wanted to buy that too, you know,
so I can also ensure my mother was well taken
care of while she was there, which is also I
realized a good business. And with what I'm telling you now,

(38:05):
it's a growing one daycare number. Four daycares in early
childhood centers, high demand, especially in urban centers. Opportunities for
mission driven ownership and community wealth. Five Auto repair and
body shops. This is still essential in a car dominated society.

(38:26):
And even if you have robotic cars, they still need them.
They're just going to break down, right, so they're still
gonna need to be fixed. They still going to break
They have a flat tire and the brake's going to fail,
and the axle is going to fail. They still need
to be repaired. AI doesn't have to take you out
of your job or business. You need to master AI,
and you run the machines that run the AI. You
run the free machines in service, machines who run the robotics.

(38:49):
I did a whole piece on AI. Go back and
watch that. You want to go deeper, just let me
know on the topic. So they're still essential, They're brand
loyal people. It's going to be brand have a lot
of brand loyalty. All repairing body shops I know I
do UH and word of mouth and they're word of
mouth driven, so they're really good businesses. The folks I
do business with my cars, those are the only folks

(39:09):
I call because in my life depends on it. I'm
driving around in something I need to know it's dependable
and that people are not are not cutting cutting corners
in risking my life. Number six Accounting and tax services.
So baby boomer accountants often want to retire. It's it's
a business that can wear you out. It's very good business,
but it is very detailing and wear people out over time,

(39:31):
so folks want to retire and to want to get
rid of it. It's very profitable. Many are ready made
for client that many have ready made client basis. They
cross self financial literacy, are planning services along with accounting services,
so you can upsell and cross seale people. So if
you can grow it, you can franchise, you can scale
it all the way. You can have multiple offices for
accounting and tax services. Number seven beauty salons and barbershops.

(39:54):
But this is a natural black of brown folks, cultural
cornerstone and black communities right. Easy to expand with with
retail and online bookings, et cetera. This is why I
want you to do Shopify and Operation Open one MBB
because even if you have an existing business, we can
sidcar that with an e commerce business. Just growing the
existing business into something that involved efficiency of e commerce.

(40:21):
I'll cover that when I do the Operation Hope podcasts
in some detail. Number eight Logistics and delivery services. So
freight freight brokers, local courrier companies, last mile delivery fleets. Uh. Booming.
These are booming with e commerce, right and but you
know you got to you gotta really love logistics and

(40:41):
this is the sort of something you got to really
just be into. Like somebody has an engineering mind. We
really love this. Number nine cleaning and commercial janitorial companies.
Big business uh, low startup overhead. You can deal with
a high school education, steady cash flows, recurring contracts. In fact,
you can go from this streets to the suites and
back to the streets with this. With this business, you

(41:03):
can be you can do the local schoolhouse, the local
you know, liquor store as a contract. You could also
be doing the local stadium in the same business in
the same city. Number ten franchise resales, so I think
subway ups stores, home healthcare, fast casual restaurants, fast food restaurants.

(41:25):
Many franchises offer financing support and seller financing by the way, okay,
so now let me get into accessing capital. Owning a
business doesn't mean you have to have all the cash
up front, right or buying one. Now here's how to
make the math work. People are like, okay, thank finally
John manute forty one, his brother finally got the how

(41:47):
do I finance this thing on a thing? I'm broke
so broke up, can't pay attention? So poor I got?
I don't. I don't. It's not spelled p o R
just poh poh. I'm just pop. Right, what do I do?
You're not poor, by the way, is it infers doing
being broken? Being poor? Being broken economic? Being poor is
a disabling the frame of mind, a depressed condition of
your spirit. And you must vow never ever ever to

(42:09):
be poor again. Right, So you just don't have any money,
right or not enough? It's okay, I'm going to show
you how to use other people's money OPM in a
responsible way. So you want to buy a five hundred
thousand dollars business. Okay, the seller may so this is
the first example. Okay, and I love this example. This
goes right in line with go find an office building,

(42:30):
go into it, or go see some a business or
even better, so business that you are a client of.
So you have a relationship with the folks and maybe
even own the owner seller financing. This is very common,
very common. Now this is a drop to Mike admitute
forty two. Right, this is this, Please pay attention. A

(42:53):
seller lets you pay thirty to seventy percent of the
price of their business over time. You just the terms.
It's between fair exchange is no robbery. So you this
is a quote from my friend Robert Rue. You and
the seller agree on what the terms are. As long
as it's legal, it's ethical, and it's honest. You're not

(43:13):
breaking any laws. Then there's your contract. I've always told
you that a good negotiation is where you have two
people is a table. Well, a good negotiating is where
everybody leaves negotiation slightly irritated, slightly annoyed because nobody got
everything they wanted, and so the seller wants to get

(43:34):
all their cash up front, and you would like to
finance one hundreds of the business. You neither one of
you going to get either to that, but you can
find some common ground. Seller gets an exit strategy. They
get some liquidity, some cash right now plus promise of
cash in the future, and if you default on the business,
they get the business back. They default a debt to
them the contract, they get the business back because that's

(43:56):
only fair. But they let you pay thirty to seventy
percent over time. You may only need ten to twenty
percent of the cash up front, and you might be
able to get this. You might just need a little
bit of cash from family's, friends, bank, whatever, because you
might be able to seller finance it with the seller's business.
The rest of that cash, even part of the twenty percent,

(44:16):
once you get into that business, you're going to get
cash flow. It's an existing business. You can take if
you if you don't need that cash to live on,
you can take some of that cash after you pay
the business the bills of the business to finance your
obligation to the seller. Number two SBA Small Business Administration
seven eight loans, So this is up to five million

(44:37):
dollars ten to twenty sorry ten to fifteen percent cash payments,
cash down payment required from you. It's two very favorable
turns from the SBA. Operation Helpe, by the way, started
with an SBA seven J grant of sixty one thousand
dollars and now we're the largest in our category in
the country. So the SBA really you know, a lot
of fortunately five hundred businesses came from the SBA, by

(45:00):
the way, so favorable they could be favorable terms. Ten
year repayment typically ten percent, I mean, you know, less
than ten percent. Interests in some cases it's down in
the one in two to three percent range. It's just
unbelievable rates. Bank banks love lending for businesses proven revenue.

(45:21):
You're buying a business with proven revenue, and this SBA
financing would come through with a bank. Number three CDFIs
Community Development Financial Institutions. I really want to applaud Robert
Smith here, the billionaire black businessman who has been very
has been leading in doing a lot of great work
in the community. And I become new friends and he's
now trying to support CDFI's particularly of those in the

(45:43):
Southeast region. And we're trying to figure out whether operas
hope and what he's doing can come together in some way.
But I really commend him here supporting CDFIs that are
supporting communities, so which is a little shout out for him.
These are so CDFIs are mission driven lenders. They're more
flexible the big banks. They are great for Black entrepreneurs
and Latino entrepreneurs and poor you know, poor rural community,

(46:08):
you know, strivers, whatever. They're may folks at the bottom
of the pyramid of folks who don't have access to
relationship capital. Essentially is what I'm saying. You'll see them
on Native American Indian reservations or serving those communities. You'll
see them in look at the list, look for lists
of CDFIs. They're the great for folks who are credit
challenged or first time buyers. I say credit challenge. I

(46:30):
got your attention, didn't it. Four CRA Community Reinvestment Act
from banks. They must lend in underserved communities. Many have
programs or small business transitions. There are forty five hundred
FDIC insured banks in this country. All of them have
this altercation. Then I can give you the money. But
if you if you're smart about how to do it,

(46:51):
they will work with you. And the CIRA conversation at
least opens the door where they'll listen to you. I
have arranged, foracilitated, and invested about four point five really
four point eight billion dollars include my private businesses of
capital and underserved neighborhoods. A lot of it has been

(47:12):
through banks. Five partnership with partnerships are sending it. Buyout.
So team up with two to three trusted friends or partners,
not pookying them. Not the homeboy shopping network, not your
cousin you're going to argue with, not your financially literate uncle. Right,
I'm talking about business. Business is not personal. You make
an emotional decisions going to be a bad one. Make

(47:32):
sure that you know who you're partnering with and that
these people are competent. Right, Team up with two to
three trusted friends and our partners, pull capital and divide labor, finance, operations,
customer service, figure out who's good at what, and divide
and conquer. You don't need to do this solo. If
you do this, by the way, do it through an LC,
a limited library of the corporation or another structure. Don't

(47:53):
do it just like the handshake and things like that
because people are really friendly when the money is coming
in and get really nasty when the money it's going
out or things go south. So make sure it's structured
and make sure it's documented and not emotional. Business is
not personal. Number six Private investor or local Angel investor group,

(48:21):
So retired executives and local investors looking for steady returns.
You want to pitch it like main Street private equity deal,
So you know, you want to have a pitch deck,
you want to have a professional presentation. You're just doing
it on Main Street versus Wall Street. Lastly, you can
get a home equity loan or a retirement rollover rob

(48:44):
r obs robs I use retirement funds or from your
four one K or your IRA without penalty under a
legal structure, which is common in the franchise world. Right, Okay,
So those were some examples of how the industries you
can go into and and and how you can finance.
Now I'm going to teach you very quickly in the

(49:05):
last few minutes we have together. If you enjoyed this,
by the way, let you do let me know when
you see pieces of this on social media, let me
know what you think I'm gonna tell you how to
how to value a business again, I want I don't
want you feeling unintelligent, like you didn't know this stuff,
because no where would you learn it. No one teaches
you financial literacy, No one teaches you capitalism. How would
you ever learn this is what we don't know. That

(49:26):
we don't know it is killing is what we think
we know. There's nothing wrong with not knowing something. Be nosy.
God give you two years and one mouth, so you
listen twice as much as you talk. So I'm going
to tell you now how to value the business that
you find. So average revenue ranges for mature businesses in
the ten accessible categories of industries that I just told
you about. Now, these are ballpark figures for healthy, established

(49:50):
businesses operating uh you know, in in succession targeted bucket.
It's meaning that these are folks who are in an
age range that they want to sell their business. Right. So,
and these are you know, traditional markets where there's a

(50:11):
vibrant economy. So home services industry that I've already covered,
the average revenue range will be five hundred thousand and
three million. On average, dental and medical practices eight hundred
thousand and two point five million, funeral home seven hundred
thousand to two million, daycares three hundred thousand to one
point two million, Auto repair shops four hundred thousand to

(50:34):
one point five million. These are individual locations. Hello, we're
talking about We're not talking about insignificant enterprises here. This
is the you know you can. You'll have a million
dollar business with one well run location, accounting in tax
firms of three hundred thousand and one point five million.

(50:56):
Barber shops and these typically have you know, three to
five to ten employees. Barber shops and salon one hundred
and fifty thousand, eight hundred thousand. This is a multi
chair salon, has eight hundred thousand dollars in revenue annually.
Logistics and delivery five hundred thousand to three million, plus
commercial cleaning get this, two hundred and fifty thousand to

(51:18):
two million on average. Franchise So you ain't you're not,
So you ain't too proud to clean? Now? Are you?
Two million dollars a year? Million dollars a year, I'll
take it. Franchise resales five hundred thousand to one point
five million on average. Now, the most common evaluation method
for small businesses is called a multiple seller discretionary earnings valuation,

(51:41):
So it's an SDE UH seller's discretionary earnings valuation. So
it's a multiple of an SDE right and essentially the
profit the owner takes plus any discretionary expenses like personal care,
et cetera. So here's how you do this. How you

(52:02):
calculate the SDE. You start with the net income of
the business. You add back owner's salary, depreciation, amortization, non
recurring expenses, personal expenses. So if the company has a
revenue of eight hundred thousand dollars a net profit of
one hundred and fifty thousand dollars, you'd add back owner's
salary and perks one hundred thousand dollars. The SDE there

(52:26):
is two hundred and fifty thousand dollars. Got that. If
you don't understand what I'm saying, just roll back the
podcast and listen to it again and pull out something
so you can write this down. Second step, I want
you to apply a market multiple. Okay, for most main
street businesses, the multiple ranges are between two x and
three point five x of the SDE, so it depends

(52:48):
on the industry. The risk profile the growth potential and
dependence on the owner. The more dependent on the owner
the business is the person selling it, the less value
is going to be for obvious reasons, the owner's leaving.
So if you have so, the valuation is SDE times multiple,

(53:09):
So two hundred fifty thousand dollars SDE times two point
five in this example is a six hundred and twenty
five thousand dollars business valuation. Got that, That's that's what
that's what you're going to buy the business for. In
this example, So if an SDS is one hundred and
fifty thousand dollars right multiple to two point five, the

(53:30):
business valuation is three seventy five K two fifty three
x multiple seven to fifty K value three fifty s
DK SDE. I'm sorry, three fifty three fifty thousand, three
x multiple three point four five multiple, three point five
x multiple one point two two five million. So if so,

(53:54):
things that decrease value, heavy owner involvement, customer concentration, outdated tech,
increasing value, non corecurring revenue. I'm sorry, no recurring revenue.
It's very important. That was that was my mess up.
It's important. Did you get this one right? Increased value

(54:15):
is recurring revenue naturally, and if it's just sort of
rents and repeat, if it does on its own like
a membership, my god, that's so good. So if you
have a dentist, a dental office and you have some
kind of a membership program, that's just passive. Great income.
I love that. That's making money, building wealth in your sleep.
Turnkey operations great tech, you know, management great, you know automation.

(54:36):
Management is in place. Strong brand that gives you an
increased value, might pay more for that. Okay, So profitability
and operations determine the value, not size alone. So you
have a one million dollar business losing money, it isn't
worth much. But a six hundred thousand dollars business netting
two hundred thousand dollars a year, that's a gold mine. Okay,
So let's now look at that. There's another somebody who's

(54:59):
an accountant or or investment bankers going down. We're talking
about SDE right now. We're talking about EBADA. That's for
a bigger business. So I'm gonna cover that in the
last part of this podcast. EBADA is earnings before interest, taxes, depreciation, amortization.
So SDE sellers discretionary earnings ebadah, bigger businesses earnings before interest, taxes,

(55:25):
depreciation and amortization. So how do they differ? Right, so
I said an st seller. Discretionary earnings is best for
small owner operating businesses less than five million dollars. Revenue
includes owner's salary plus personal perks. Shows total benefits to
a single owner, first time typical buyers at first time buyer,
individual entrepreneur buying a local HVAC company or salon or

(55:51):
small accounting firm. Okay, but EBADA earnings before taxes, interests, taxes,
depreciation and amortization. That's that's really mits or larger businesses
or five million dollars or more. This excludes owner's salary
and ad backs shows true operating performance. Okay, because basically

(56:12):
you have a bigger business, it doesn't. The owner's salary
whatever is almost irrelevant. And to pay somebody to be
the CEO of the company anyway, it's just sort of
you know where it's it's not it's not all that
material to a business running. You know, the owner's salary
is not the material. In fact, you assume that you
have a CEO in place with a ten million dollar business,
and so you just it's just the cost of do business.

(56:34):
So this excludes owner's salary in ad backs. It's typically
bought by a private equity firm, institutional buyer, or strategic buyer.
Acquiring a ten million dollars logistics company or regional medical
group is an example here, right, So if you're now

(56:54):
here's multiple valuation differences. If you're if you're buying a company,
a small one with an SDE approach, you gonna have
a multiple between two point zero to three point five
of the of the net you know, the net profit
of the business. If you're buying a business based on ebada,
it could be four point oh to seven point zero

(57:16):
and sometimes ten x the revenue of the real revenue
the profitability of that business because it has much more
potential because you can scale a larger business. If you're
buying a local business that runs well and with one owner,
think a barbershop, a dental office in HVAC, you use
ste If you're looking at something with a management team

(57:39):
or investor in the investors involved, that's that's when ebada
comes into play. I hope this has been helpful to you.
I hope I've broken down for you the how, the what,
the who and the where and where do you start?
And I even pointed you to a starting place, like
literally just drive down the street and look, you're you

(58:02):
just go crazy with opportunity. It's literally everywhere. And these companies,
the owners want to go. They want to go, and
you may meet a new friend along the way, you
may break you may break down racial barriers and bring, bring, bring,
create new new social circles. Because now you're talking about

(58:22):
business and people, and now you're talking about something that,
ever is a language that that that wealthy folks understand.
So now you're you're being invited to different country clubs
and private private meetings and different conferences, and your whole
world expands and and then they get a sense of
culture and community and they get to understand that these

(58:42):
black people are really smart like and they're reasonable people,
and so they start listening to you and not looking
at some crazy news article that suggests that you are
you know, you got five arms and three legs and
you're not smart, which is just of course not true.
We built this country for free. They didn't go get
us from Africa. We were dumb. They got us because

(59:03):
we were agricultural geniuses of the land, and they needed
us to be able to bring that land back to life.
Now what we're going to do is go from being
worked by the land and being owned by people to
owning the land and charting our own future and sharing
that opportunity with all of God's children. Are having this

(59:24):
opportunity to share with all of God's children. That's full circle.
Rainbows after storms. You cannot have a rainbow without a
storm first. It's a scientific fact and good philosophy too.
This is the civil rights movement, this is John O'Brien,
this is the Black Effect Network podcast Money and Wealth.
I'm glad that you spent this hour with me. I
hope that you felt it was worth it. I don't

(59:46):
want you to get mad. I want you to get even.
I want you to succeed what I'm at. I don't
want you to be send your time getting angry. It's
just going to make you old and honoree and unhappy. Right,
I want you to be optimst Whether the glasses half
full of the glass half empty depends what was looking
at the class, Whether you believe you can, whether you
believe you can't. You're absolutely right An entrepreneur works eighteen

(01:00:10):
hours day to keep from getting a job like I
don't even work. I do what I love. I do
it for free. Give this world good energy. That's what
my t shirt says, and that's what your life should
be about. Remember that disease is often disease, right. So
I want you to put good energy in this world.
I want you to put love into this world. I

(01:00:31):
want you to put positive vibes in this world. We're
not human beings having a spiritual experience. We're spiritual beings
having a human experience. Yes, this is a money podcast,
but it's also about wealth, and wealth is spiritual. Wealth
is energy. Because if I don't like me, I'm not
gonna like you. If I don't feel good about me,
I'm not going to feel good about you. If I
don't respect me, don't expect me to respect you. I

(01:00:52):
don't have If I don't have a purpose in my life,
I'll make your life a living hell. Whatever goes around
comes around. There's not enough police to save you for
somebody who does who has no hope. The most dangerous
person in the world is a person with no hope.
We all have an interest. I believe in enlightened self interest.
Whether you're white and wealthy listening to this or black
and struggling, whether you're a billionaire and millionaire, somebody trying

(01:01:14):
to buy some are hello, can I get an a man?
We all have an interest in making sure that anybody
who wants to succeed can. All of us have an
interest in giving people a reason for hope. And that's
what this podcast is about. It's good capitalism and scale.
Let's go change the world together. I'm out O'Brien by

(01:01:35):
the book. Subscribe to the podcast Money and Wealth and
go to Operation Hope. Tell him I sent you. They'll
give you one thousand dollars initial scholarship for coaching and
counseling and get your credits, grow up, your debt down,
your savings up, and I will do a special podcast
just on breaking down all the empowerment things going on
at Operation Hope to give you the tools that you
need to lift yourself up. As I know that I

(01:01:57):
assume you know what's going on at Operation Hope. Should
not assume, because when you do that, you make a
you know what out of you and me to assume
I mean, okay, by Money and Wealth with John O'Brien

(01:02:21):
is a production of the Black Effect Podcast Network. For
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