Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald.
Drawing from his own experiences—including the rise and fall of his Houston-based comedy club—he shares hard-earned lessons about budgeting, hiring, planning, and the realities of entrepreneurship. The episode is both motivational and practical, offering real-world advice for aspiring and current business owners.
🧠Key Points 🔑 Common Mistakes in Business
- Hiring friends, family, or underqualified people out of convenience or emotional ties.
- Starting a business without a budget or clear plan.
- Entering partnerships without knowing the other person’s work ethic or values.
- Ignoring logistics like parking, taxes, and insurance.
📉 Lessons from Failure
- Rushion’s comedy club was popular but unprofitable due to poor planning and lack of financial oversight.
- He learned that profitability requires structure, not just popularity or passion.
🧠Mindset & Commitment
- Success requires time, discipline, and consistency.
- Entrepreneurs must be willing to sacrifice, show up early, and stay late.
- You can’t run a business on dreams alone—you need a plan.
🧰 Practical Advice
- Use resources like the Small Business Administration (SBA) and SCORE for free guidance and mentorship.
- Set clear expectations with employees from day one.
- Don’t compromise your business by ignoring red flags during hiring.
đź’¬ Notable Quotes
“You can’t open a business and then try to set the budget. Now you’re playing catch-up.”
“Don’t hire people just because they’re close to you. Hire people because they’re qualified.”
“You can’t run a business on dreams. You need a plan.”
“Do not hire inexperienced employees because they are cheaper.”
“If you don’t have time for your business, your business won’t have time for you.”
“I was making money, but I never saw any of it because I didn’t have a budget.”
“Only you can look in the mirror and make a decision that benefits your future.”
#SHMS #STRAW #BEST
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Hi.
Speaker 2 (00:00):
I am Rashan McDonald, a host of weekly Money Making
Conversation Masterclass show. The interviews and information that this show
provides are for everyone. It's time to stop reading other
people's success stories and start living your own. If you
want to be a guest on my show, please visit
our website, Moneymaking Conversations dot com and click to be
a guest. Button press submit and information will come directly
(00:23):
to me. Now, let's get this show started. Let's get
started here. I'm gonna ask some questions about it.
Speaker 3 (00:29):
This.
Speaker 2 (00:29):
Has anybody ever thought about you can raise your hand,
You can raise your hand, and your car driving you
just raise your eyebrow. Thought about starting a business? Why
didn't you do it? Have you ever thought about hiring
people for your business and you've hired the wrong people?
Have you ever thought about hiring relatives and guess what
you hired those relatives. Have you ever hired people that
(00:52):
you were getting a good deal on them? Oh, they go,
oh they cheap. Oh that salary fits right into my budget.
But they don't have the experience. Am I am I
tapping into the right lanes with some of y'all out there,
Or how about starting your business? And you don't even
have a budget. It's just a good idea. Am I
(01:15):
tapping into anybody out there? Yet? Okay, how about this?
How about this? You start a business with somebody you
don't know. How about that? How about how about this?
You start a business you know, I'm from Texas. So
they say you can start a business with a handshake.
That's what will be contractual. I've done that before. Yeah,
(01:37):
how to be a successful business owner? That's a bold
statement for me to say, marketing and branding. Have a
company called thirty and fifteen Media, Inc. Based in Atlanta, Georgia.
I started it as an idea and I just started
hiring people. Were they the best qualified people?
Speaker 3 (01:57):
No?
Speaker 2 (01:58):
In hindsight, no, But I knew them. I knew them,
they knew me, we had long term relationships. They could
do certain things, and I hired them. That's the number
one problem with most people who fail in this business
is they hire people just because they're close to them.
(02:19):
They hire people because they make them feel comfortable. You
hire people because they're just right there and they're available
to be hired. That's the number one mistake and the
number two mistake. Do you have time for your business? Wow.
(02:41):
You know I would tell people this, I get up
at four thirty money to do fraud. That's one time
four thirty am I get up and people always going
whoa woo four thirty when you're doing it front thirty.
I was fortunate to give a speech. Uh a.
Speaker 3 (02:58):
Look.
Speaker 2 (02:58):
It was an area in a called Lithonius, right outside
of Atlanta, Georgia Chamber of Commerce, and I was speaking
to him. That's one of the reasons they brought me over.
It was to speak about how to be a successful
business owner. And when you're speaking to type of people
about being a successful business owner, one thing you have
to admit that is that you made mistakes. I opened
(03:21):
a comedy club in Houston, Texas called Hip Hop Comedy Style.
I got in business with a person I didn't even know.
But guess what, he was a stand up comic too,
so he liked telling jokes. I liked telling jokes. Yeah,
I guess he make a good business part. So that's
(03:42):
how we got That's like you, that's like you like
to eat chicken, and you know somebody who makes good chickens,
So y'all just gonna go into chicken business. Same same thing,
same thing. I didn't know his likes, his dislikes. I
didn't know his work happens. I didn't know if he
like getting up early, but do he likes staying eight
didn't even have an idea of how to run a business.
(04:03):
That's how I got in business. But the other side
of that is that it became a very popular comedy club.
Lines out the door. I used to do a show
on Thursday. Tickets are going to sell on Monday. They
were sold out in the hour. That's how popular. Was
a room seats like three hundred and fifty people, A
line out the door on Thursday show showtime. I hit
(04:26):
the stage at eight nine o'clock. People wouldn't go in
the room until it was nine. Eight thirty was an
empty room. They didn't want to see the other comics.
I walk in nine o'clock, room packed. Eight thirty to
eight fifty five, room was empty, nine o'clock packed. We
were making money. But what just what what happens when
you start making money? I forgot? You pay taxes. You
(04:51):
pay taxes on tickets, you pay taxis on liquor. So
so those little things. So all that money that you making,
somebody else want a piece of it, so you can't
look at ten dollars as a real ten dollars. But
because I didn't have a budget, because I didn't take
time to understand how to run a business, I was
(05:14):
just doing all the wrong things. So I'm sure a
lot of you guys out there, ladies, I think, because
women are the fastest growing entrepreneurial part in this company,
especially black women, y'all just running things now in a
good way, opening up business. I'm sure you opening up
business a lot more than me, better than me. So
(05:39):
I was making money but couldn't understand how selling out.
But I can't pay myself, so I was just working
for free because I didn't have Because what you can't do,
I'll tell you something about this, the biggest mistake in
a business. You can't open a business then try to
(06:00):
sell the budget because now you're playing catch up because
you can't justify because you didn't have a budget at
the beginning. You to know why you have all these
people hanging around you getting checks for you or wanting
to get checked for you, then you understand why you fail.
So when you're making money as a business owner, you
(06:21):
can't be successful because of the reason that if you
try to be successful because you never had a plan.
That's the numb more reason we fail. And the other
number one reason we fail is do you have time
for your business. I can't tell you how many people
get mad because the store after a while they open
their business. It opens a ten but they're getting there
(06:42):
at the same time the customer should get there. They
getting mad because the customers got their own time, not
knowing they got a restaurant here, they got to pre
set up everything. The customers get y'all ever be in
a restaurant. You've been in a restaurants where oh, we
don't have that on the menu. Don't that make you mad?
Oh we ran out? How are you gonna run out
(07:03):
of something that's on your menu? Didn you plan to
make this? Then you plan this, make this a part
of your regular I've been I've been in restaurants where
they have actually used a marker to strike through things
that they don't do their menu. No more. Now I'm
supposed to come back for that. Here's a little note
(07:24):
now about business. It's called consistency. I always tell people
a little I'm just using Target as an example. If Target,
if you drove by Target at night and they sign
wasn't on, you think they'd be closed. So if like
on Monday, Tuesday, and Wednesday, Target sign was on, but Thursday,
Friday and Saturday was off, you think they'd be out
(07:45):
of business, or you stop trusting them so you won't
go there or put them on the list, and you
actually started spreading rumors, negative rumors about Target or business
like Target. And that's what happens if we're inconsistent. So
if you if you open opening the business and you're
saying you doing things, you gotta be there to do it,
(08:08):
and everybody sees the profit line, you know, they buy franchise.
You know they want to buy franchise like Chick fil
A or Jagging Bars or McDonald's or they heard or
or Bojangles. That's that's a real hot franchise that people
are buying. It still requires work, and so what these
franchises try to do they try to train you. See,
(08:29):
you're gonna pay a fee, but they just don't let
you just run out there. They're gonna find out if
you have time too to run that franchise because they're
applying the same business principles that I am doing. In
this conversation I'm having with you right now, the conversation
of being able to sit down and apply to you
and make sense plan of how you can be successful.
(08:52):
So when you buy a franchise, what they do is
they bring you in, they sit you down, and they
have you work with somebody who has your best interests.
Listen to me, now, your best interest because what they
don't want to do is put a franchise out there
and it clothes because it makes them look bad. So
(09:12):
now if you don't have time, but you heard, did
these franchises make a lot of money? Then they gonna
have a problem with you. Then you're gonna get mad
at them because they telling you why you're not there
to open up their business on time. It guess what
they gonna do after a while, they'll come take their license.
Then what you're trying to do now, you're trying to
(09:32):
suit you. Now you huddle up with your friends and family,
all you in the corners, just cussing and fussing like
they've done you wrong. But you're the one didn't live
up to the standards. They have, copyright they have, they have.
You just can't let anybody in the kitchen if you
making donuts. You just can't let it. You just can't
shoot a video back there for TikTok making donuts back there,
(09:56):
making cakes back there. You mad because that's they recipes.
Everybody can't see this. Because you don't know the rules.
You want to try to make your own rules. That's
why you want to be successful. I'm gonna tell you
why I was not successful at my comedy club. Even
though lines at the door. You can look at up
(10:17):
Hip Hop Comedy Stop nineteen ninety two to nineteen ninety four, Houston,
Texas one of the most popular comedy clubs in the country.
Everybody came through the Joe tur Cedric did a tainer
some more. All the big stars came through there, Steve Harvey,
everybody came to that club. Made no money, made no money,
(10:46):
broke even because I didn't have a budget, because I
didn't know what I was doing. I was in business
with a person I didn't know, and he had a
full time job. So guess what he kept saying, Hey, man,
you got it, you got it, you got it. Well,
(11:09):
guess what I got tired of being the person who
got it. Then I had family whoa when we come back,
we're gonna talk about hiring family. Who hire family? That's
big a mistake you can make hiring family now, especially
when the mama, when the mama told you to hire him.
This is Rashwan McDonald, Marking and Brandy expert telling you
(11:30):
how to be a successful business owner.
Speaker 3 (11:32):
Please don't go anywhere. We'll be right back with more
Money Making Conversations Masterclass. Welcome back to the Money Making
Conversations Master Class hosted by Rashaan McDonald.
Speaker 2 (11:49):
This is my opinion. It's not the opinion the station
you're listening to this. Rashawan McDonald just pouring his soul
lout on this show today a little bit. I'm gonna
start doing this more off. I like this. I know
I'm much to have great guests, but I think you
guys need to hear. How did I become the person
I had? I became, I become and I will continue
to become. How to be a successful business owned business
(12:10):
owner is the topic? Mars, How you doing? My friend
Morris is onderline. Talk to me, Marris's Sean mcgon's speaking.
How you doing?
Speaker 1 (12:16):
Hey, I'm doing well? How are you?
Speaker 2 (12:18):
What you want to talk about? Marris?
Speaker 1 (12:20):
Good? So I wanted to find out if you have
any recommended sources where we could learn how to properly
budget for a business. I know, of course you can
google and things like that, but are there any resources
that you specifically recommend to help us properly establish a
budget for our business?
Speaker 2 (12:39):
Absolutely called small Business Administration. They're in every major city,
and please go to them, because when I opened my
comedy club, I went there, and when I went there,
and I'm just using a club for his example. If
they tell you, if you can tell them your club
is three thousand square feet, they'll tell you how many
table chairs you need, They'll tell you how many classes
(13:00):
you need. They'll tell you everything because they have books.
And then they have another part called Score. And Score
is made up of retired executives, people who are entrepreneurs,
people who have been in the business successful, and they
can mentor you. They can mentor you so you can
ask these honest questions. It's called Score, and it's called
Small Business Administration. And believe me, I tell people about
(13:22):
this all the time. Do not step out there dreaming
without a plan, Because you dreaming of the planet, they
gonna come and slap you in the face and wake
you up. And it will be a nightmare when you
wake up. I walk up into a nightmare. I kid
you not, Morris. I was making money and I never
saw none of it because I didn't have a budget.
I didn't understand who I was in business with. And
(13:42):
guess what. In the end, I hired my relatives and
guess what, they had full time jobs, so they will
not commit it to my dream because they had to
get back to work the next day. So Small Business
Administration SBA and it's called score like you score a
touchdown those two organizations. You can get it through Small
(14:04):
Businessmen SBA right here in Georgia. Is also in Texas,
is also in New York. Is also any major state,
any major city has it. I would advise you to
call them and guess what. It's free.
Speaker 1 (14:15):
Oh excellent, that's even better.
Speaker 2 (14:17):
Well, good luck, my friend. Thank you for calling the
money make compans in Maxical Health. Hope you got something
out of the call. Thank you, my friend, Angela. How
you doing, I'm good?
Speaker 4 (14:27):
Thanks taking my call.
Speaker 2 (14:29):
What question can I answer for you, Angela?
Speaker 4 (14:32):
I would love I appreciate you sharing your your failures
because I think that helped sets the stage for me
going into acquiring a business, ma'am. So yeah, please just
continue to share some of the lessons learned because I'm
learning a lot. Go hire your family, plan your work
and working well.
Speaker 2 (14:51):
I'm teach them them. It's higher I hire your family, though,
because I don't want to give all family members of
bad reputation. Now, do not hire your family if your
mama told you to hire them, Okay, okay, don't hire
them that way. Don't hire your family out of love. Okay,
those two things. Now, if your family's qualified, they've done
(15:13):
the work, they will put in the work they're hired,
you treat them like. Here's the thing I would tell people.
If you hire a family member, they should have the
same qualifications and put out the same effort of somebody
you would not know that you wanted to hire for
that same position. But if you're bringing them in and
you loan the qualifications, you will lawn the work ethic.
(15:34):
You will lower the responsibility for that same job. So
now you've lowered the standard for that job three times.
Speaker 1 (15:41):
So why do you.
Speaker 2 (15:43):
Expect that person to be effective when you need them
to work forty hours a week?
Speaker 1 (15:47):
Is it?
Speaker 2 (15:48):
I'm gonna roll here. I gotta tell you something else.
If you hire somebody, then they start changing the rules
on how they work. You know what I'm saying. See,
I'm very clear and when I hire people, and you
should be very clear because you you send you send
a letter to them outlining the job description, you both
(16:10):
agreed on the salary.
Speaker 1 (16:13):
M hmm.
Speaker 2 (16:14):
After a couple of weeks, they started they start coming
in making an excuse you like, well, you know I
got to pick up the kids. Okay, you tell me
about that when I hired you.
Speaker 4 (16:25):
Okay, you tell me about that.
Speaker 2 (16:28):
Or I gotta leave work early because of traffic. You
tell me about that when I hired you. Though, So
see what happens is you have to be able to
see a certain questions you can't ask when you hire people.
But if somebody ubers to the interview, I wouldn't hire
mm hmm.
Speaker 4 (16:49):
Okay, you lay the foundation straight from the beginning.
Speaker 2 (16:54):
But of course you know there's certain questions you cannot
ask when you ask, but you have to have common
sense and hope approach. If you should ask somebody where
they live. You know, my my company up in Alpharetta.
Now anybody down there by the airport, I have to
question whether or not they can come to my job
(17:15):
on the regular basis. I just have to question that
because I know there's heavy traffic in the morning and
the afternoon, and my job's eight to five, So I
don't care how much they say they want the job.
I have to do common sense realize I may be
compromising my business because guess what happens. They're gonna come
in and start changing the rules with traffic, uh, family issues, uh,
(17:40):
you know, and then then they're gonna say something to you.
They're really gonna make you mad. You know, your job
kind of far but you know all that. But you
knew all that when you hire that person, because guess
what they told you where they lived, but you ignored it.
You ignored it. So Angela, thank you for calling. These
(18:03):
are some of the little things. And I'm not finished.
So keep you keep your radio on because I got
more to talk about. Keep your podcast on all that,
guess I will. Now, here's the problem that a lot
of people have when they open the business. This I'm
talking to business owner's talking to entrepreneurs. Listen to me, Parking.
(18:24):
I don't know why people think they can just open up,
open up a business and not worry about parking. I
had a comedy club, y'all. See I see see that
comedy club taught me a lot, y'all. I had no parking.
All my parking was on the streets, out there on
the streets. Three hundred people cars parked out there on
(18:47):
the street, up and down the streets all up. Boy,
I was popular, though, But guess what happens when you
just parking any kind of way, any kind of way,
any kind of place. Bad things start happening. Bad people
start showing up, start busting in car windows, so people
(19:09):
would leave my comedy shows, come back in over shown
my car being broken into. So what So then my
insurance got to cover that. So suddenly my insurance starts
going up because I got a business, beautiful building, fantastic
(19:34):
no parking though, if I ignored the no parking issue,
because guess what, I fell in love with the building,
So I had to hire people to walk up and
down the streets to stop people from busting into cars.
(19:54):
Now you see why I wasn't making no money When
you make all these ignorant decisions, no budget in business.
Somebody didn't know by the leasing the building for two
years with no parking.
Speaker 1 (20:12):
Rule.
Speaker 2 (20:15):
I'm gonna close this out about this person you should
never ever hire. Do not hire inexperience employees because they
are cheaper. I'm I'm let you just let that soak
in a minute. Do not hire inexperience employees because they
(20:37):
are cheaper. One they have no leadership abilities. Two they
need constant supervision. Three they do not understand the position
and the company. It will not help you win. W
(20:57):
I in capital letters long term. I'm to put a
little quote around here. I said something by relatives. Do
not hire friends. I've done that. It has burnt me.
(21:19):
When it came time to make a decision. They reminded
me that I did them wrong. They reminded me that
they were the victim. They reminded me that I didn't
know what I was doing. And you're exactly right, because
(21:40):
I was running a business based on friendship, no budget, family,
and a partner I didn't know. You cannot win like that.
Ladies and gentlemen, as you listen to me talk about
marketing and branding and how to be a successful business owner,
the bottom line it's on you look in the mirror
(22:03):
and make a decision that benefits you, your family, and
your future. This has been another edition of Money Making
Conversation Masterclass posted by me Rashaun McDonald. Thank you to
our guests on the show today and thank you o
listening to audience now. If you want to listen to
any episode I want to be a guest on the show,
visit Moneymakingconversations dot com. Our social media handle is money
(22:26):
Making Conversation. Join us next week and remember to always
leave with your gifts. Keep winning.
Hi.
Speaker 2 (00:00):
I am Rashan McDonald, a host of weekly Money Making
Conversation Masterclass show. The interviews and information that this show
provides are for everyone. It's time to stop reading other
people's success stories and start living your own. If you
want to be a guest on my show, please visit
our website, Moneymaking Conversations dot com and click to be
a guest. Button press submit and information will come directly
(00:23):
to me. Now, let's get this show started. Let's get
started here. I'm gonna ask some questions about it.
Speaker 3 (00:29):
This.
Speaker 2 (00:29):
Has anybody ever thought about you can raise your hand,
You can raise your hand, and your car driving you
just raise your eyebrow. Thought about starting a business? Why
didn't you do it? Have you ever thought about hiring
people for your business and you've hired the wrong people?
Have you ever thought about hiring relatives and guess what
you hired those relatives. Have you ever hired people that
(00:52):
you were getting a good deal on them? Oh, they go,
oh they cheap. Oh that salary fits right into my budget.
But they don't have the experience. Am I am I
tapping into the right lanes with some of y'all out there,
Or how about starting your business? And you don't even
have a budget. It's just a good idea. Am I
(01:15):
tapping into anybody out there? Yet? Okay, how about this?
How about this? You start a business with somebody you
don't know. How about that? How about how about this?
You start a business you know, I'm from Texas. So
they say you can start a business with a handshake.
That's what will be contractual. I've done that before. Yeah,
(01:37):
how to be a successful business owner? That's a bold
statement for me to say, marketing and branding. Have a
company called thirty and fifteen Media, Inc. Based in Atlanta, Georgia.
I started it as an idea and I just started
hiring people. Were they the best qualified people?
Speaker 3 (01:57):
No?
Speaker 2 (01:58):
In hindsight, no, But I knew them. I knew them,
they knew me, we had long term relationships. They could
do certain things, and I hired them. That's the number
one problem with most people who fail in this business
is they hire people just because they're close to them.
(02:19):
They hire people because they make them feel comfortable. You
hire people because they're just right there and they're available
to be hired. That's the number one mistake and the
number two mistake. Do you have time for your business? Wow.
(02:41):
You know I would tell people this, I get up
at four thirty money to do fraud. That's one time
four thirty am I get up and people always going
whoa woo four thirty when you're doing it front thirty.
I was fortunate to give a speech. Uh a.
Speaker 3 (02:58):
Look.
Speaker 2 (02:58):
It was an area in a called Lithonius, right outside
of Atlanta, Georgia Chamber of Commerce, and I was speaking
to him. That's one of the reasons they brought me over.
It was to speak about how to be a successful
business owner. And when you're speaking to type of people
about being a successful business owner, one thing you have
to admit that is that you made mistakes. I opened
(03:21):
a comedy club in Houston, Texas called Hip Hop Comedy Style.
I got in business with a person I didn't even know.
But guess what, he was a stand up comic too,
so he liked telling jokes. I liked telling jokes. Yeah,
I guess he make a good business part. So that's
(03:42):
how we got That's like you, that's like you like
to eat chicken, and you know somebody who makes good chickens,
So y'all just gonna go into chicken business. Same same thing,
same thing. I didn't know his likes, his dislikes. I
didn't know his work happens. I didn't know if he
like getting up early, but do he likes staying eight
didn't even have an idea of how to run a business.
(04:03):
That's how I got in business. But the other side
of that is that it became a very popular comedy club.
Lines out the door. I used to do a show
on Thursday. Tickets are going to sell on Monday. They
were sold out in the hour. That's how popular. Was
a room seats like three hundred and fifty people, A
line out the door on Thursday show showtime. I hit
(04:26):
the stage at eight nine o'clock. People wouldn't go in
the room until it was nine. Eight thirty was an
empty room. They didn't want to see the other comics.
I walk in nine o'clock, room packed. Eight thirty to
eight fifty five, room was empty, nine o'clock packed. We
were making money. But what just what what happens when
you start making money? I forgot? You pay taxes. You
(04:51):
pay taxes on tickets, you pay taxis on liquor. So
so those little things. So all that money that you making,
somebody else want a piece of it, so you can't
look at ten dollars as a real ten dollars. But
because I didn't have a budget, because I didn't take
time to understand how to run a business, I was
(05:14):
just doing all the wrong things. So I'm sure a
lot of you guys out there, ladies, I think, because
women are the fastest growing entrepreneurial part in this company,
especially black women, y'all just running things now in a
good way, opening up business. I'm sure you opening up
business a lot more than me, better than me. So
(05:39):
I was making money but couldn't understand how selling out.
But I can't pay myself, so I was just working
for free because I didn't have Because what you can't do,
I'll tell you something about this, the biggest mistake in
a business. You can't open a business then try to
(06:00):
sell the budget because now you're playing catch up because
you can't justify because you didn't have a budget at
the beginning. You to know why you have all these
people hanging around you getting checks for you or wanting
to get checked for you, then you understand why you fail.
So when you're making money as a business owner, you
(06:21):
can't be successful because of the reason that if you
try to be successful because you never had a plan.
That's the numb more reason we fail. And the other
number one reason we fail is do you have time
for your business. I can't tell you how many people
get mad because the store after a while they open
their business. It opens a ten but they're getting there
(06:42):
at the same time the customer should get there. They
getting mad because the customers got their own time, not
knowing they got a restaurant here, they got to pre
set up everything. The customers get y'all ever be in
a restaurant. You've been in a restaurants where oh, we
don't have that on the menu. Don't that make you mad?
Oh we ran out? How are you gonna run out
(07:03):
of something that's on your menu? Didn you plan to
make this? Then you plan this, make this a part
of your regular I've been I've been in restaurants where
they have actually used a marker to strike through things
that they don't do their menu. No more. Now I'm
supposed to come back for that. Here's a little note
(07:24):
now about business. It's called consistency. I always tell people
a little I'm just using Target as an example. If Target,
if you drove by Target at night and they sign
wasn't on, you think they'd be closed. So if like
on Monday, Tuesday, and Wednesday, Target sign was on, but Thursday,
Friday and Saturday was off, you think they'd be out
(07:45):
of business, or you stop trusting them so you won't
go there or put them on the list, and you
actually started spreading rumors, negative rumors about Target or business
like Target. And that's what happens if we're inconsistent. So
if you if you open opening the business and you're
saying you doing things, you gotta be there to do it,
(08:08):
and everybody sees the profit line, you know, they buy franchise.
You know they want to buy franchise like Chick fil
A or Jagging Bars or McDonald's or they heard or
or Bojangles. That's that's a real hot franchise that people
are buying. It still requires work, and so what these
franchises try to do they try to train you. See,
(08:29):
you're gonna pay a fee, but they just don't let
you just run out there. They're gonna find out if
you have time too to run that franchise because they're
applying the same business principles that I am doing. In
this conversation I'm having with you right now, the conversation
of being able to sit down and apply to you
and make sense plan of how you can be successful.
(08:52):
So when you buy a franchise, what they do is
they bring you in, they sit you down, and they
have you work with somebody who has your best interests.
Listen to me, now, your best interest because what they
don't want to do is put a franchise out there
and it clothes because it makes them look bad. So
(09:12):
now if you don't have time, but you heard, did
these franchises make a lot of money? Then they gonna
have a problem with you. Then you're gonna get mad
at them because they telling you why you're not there
to open up their business on time. It guess what
they gonna do after a while, they'll come take their license.
Then what you're trying to do now, you're trying to
(09:32):
suit you. Now you huddle up with your friends and family,
all you in the corners, just cussing and fussing like
they've done you wrong. But you're the one didn't live
up to the standards. They have, copyright they have, they have.
You just can't let anybody in the kitchen if you
making donuts. You just can't let it. You just can't
shoot a video back there for TikTok making donuts back there,
(09:56):
making cakes back there. You mad because that's they recipes.
Everybody can't see this. Because you don't know the rules.
You want to try to make your own rules. That's
why you want to be successful. I'm gonna tell you
why I was not successful at my comedy club. Even
though lines at the door. You can look at up
(10:17):
Hip Hop Comedy Stop nineteen ninety two to nineteen ninety four, Houston,
Texas one of the most popular comedy clubs in the country.
Everybody came through the Joe tur Cedric did a tainer
some more. All the big stars came through there, Steve Harvey,
everybody came to that club. Made no money, made no money,
(10:46):
broke even because I didn't have a budget, because I
didn't know what I was doing. I was in business
with a person I didn't know, and he had a
full time job. So guess what he kept saying, Hey, man,
you got it, you got it, you got it. Well,
(11:09):
guess what I got tired of being the person who
got it. Then I had family whoa when we come back,
we're gonna talk about hiring family. Who hire family? That's
big a mistake you can make hiring family now, especially
when the mama, when the mama told you to hire him.
This is Rashwan McDonald, Marking and Brandy expert telling you
(11:30):
how to be a successful business owner.
Speaker 3 (11:32):
Please don't go anywhere. We'll be right back with more
Money Making Conversations Masterclass. Welcome back to the Money Making
Conversations Master Class hosted by Rashaan McDonald.
Speaker 2 (11:49):
This is my opinion. It's not the opinion the station
you're listening to this. Rashawan McDonald just pouring his soul
lout on this show today a little bit. I'm gonna
start doing this more off. I like this. I know
I'm much to have great guests, but I think you
guys need to hear. How did I become the person
I had? I became, I become and I will continue
to become. How to be a successful business owned business
(12:10):
owner is the topic? Mars, How you doing? My friend
Morris is onderline. Talk to me, Marris's Sean mcgon's speaking.
How you doing?
Speaker 1 (12:16):
Hey, I'm doing well? How are you?
Speaker 2 (12:18):
What you want to talk about? Marris?
Speaker 1 (12:20):
Good? So I wanted to find out if you have
any recommended sources where we could learn how to properly
budget for a business. I know, of course you can
google and things like that, but are there any resources
that you specifically recommend to help us properly establish a
budget for our business?
Speaker 2 (12:39):
Absolutely called small Business Administration. They're in every major city,
and please go to them, because when I opened my
comedy club, I went there, and when I went there,
and I'm just using a club for his example. If
they tell you, if you can tell them your club
is three thousand square feet, they'll tell you how many
table chairs you need, They'll tell you how many classes
(13:00):
you need. They'll tell you everything because they have books.
And then they have another part called Score. And Score
is made up of retired executives, people who are entrepreneurs,
people who have been in the business successful, and they
can mentor you. They can mentor you so you can
ask these honest questions. It's called Score, and it's called
Small Business Administration. And believe me, I tell people about
(13:22):
this all the time. Do not step out there dreaming
without a plan, Because you dreaming of the planet, they
gonna come and slap you in the face and wake
you up. And it will be a nightmare when you
wake up. I walk up into a nightmare. I kid
you not, Morris. I was making money and I never
saw none of it because I didn't have a budget.
I didn't understand who I was in business with. And
(13:42):
guess what. In the end, I hired my relatives and
guess what, they had full time jobs, so they will
not commit it to my dream because they had to
get back to work the next day. So Small Business
Administration SBA and it's called score like you score a
touchdown those two organizations. You can get it through Small
(14:04):
Businessmen SBA right here in Georgia. Is also in Texas,
is also in New York. Is also any major state,
any major city has it. I would advise you to
call them and guess what. It's free.
Speaker 1 (14:15):
Oh excellent, that's even better.
Speaker 2 (14:17):
Well, good luck, my friend. Thank you for calling the
money make compans in Maxical Health. Hope you got something
out of the call. Thank you, my friend, Angela. How
you doing, I'm good?
Speaker 4 (14:27):
Thanks taking my call.
Speaker 2 (14:29):
What question can I answer for you, Angela?
Speaker 4 (14:32):
I would love I appreciate you sharing your your failures
because I think that helped sets the stage for me
going into acquiring a business, ma'am. So yeah, please just
continue to share some of the lessons learned because I'm
learning a lot. Go hire your family, plan your work
and working well.
Speaker 2 (14:51):
I'm teach them them. It's higher I hire your family, though,
because I don't want to give all family members of
bad reputation. Now, do not hire your family if your
mama told you to hire them, Okay, okay, don't hire
them that way. Don't hire your family out of love. Okay,
those two things. Now, if your family's qualified, they've done
(15:13):
the work, they will put in the work they're hired,
you treat them like. Here's the thing I would tell people.
If you hire a family member, they should have the
same qualifications and put out the same effort of somebody
you would not know that you wanted to hire for
that same position. But if you're bringing them in and
you loan the qualifications, you will lawn the work ethic.
(15:34):
You will lower the responsibility for that same job. So
now you've lowered the standard for that job three times.
Speaker 1 (15:41):
So why do you.
Speaker 2 (15:43):
Expect that person to be effective when you need them
to work forty hours a week?
Speaker 1 (15:47):
Is it?
Speaker 2 (15:48):
I'm gonna roll here. I gotta tell you something else.
If you hire somebody, then they start changing the rules
on how they work. You know what I'm saying. See,
I'm very clear and when I hire people, and you
should be very clear because you you send you send
a letter to them outlining the job description, you both
(16:10):
agreed on the salary.
Speaker 1 (16:13):
M hmm.
Speaker 2 (16:14):
After a couple of weeks, they started they start coming
in making an excuse you like, well, you know I
got to pick up the kids. Okay, you tell me
about that when I hired you.
Speaker 4 (16:25):
Okay, you tell me about that.
Speaker 2 (16:28):
Or I gotta leave work early because of traffic. You
tell me about that when I hired you. Though, So
see what happens is you have to be able to
see a certain questions you can't ask when you hire people.
But if somebody ubers to the interview, I wouldn't hire
mm hmm.
Speaker 4 (16:49):
Okay, you lay the foundation straight from the beginning.
Speaker 2 (16:54):
But of course you know there's certain questions you cannot
ask when you ask, but you have to have common
sense and hope approach. If you should ask somebody where
they live. You know, my my company up in Alpharetta.
Now anybody down there by the airport, I have to
question whether or not they can come to my job
(17:15):
on the regular basis. I just have to question that
because I know there's heavy traffic in the morning and
the afternoon, and my job's eight to five, So I
don't care how much they say they want the job.
I have to do common sense realize I may be
compromising my business because guess what happens. They're gonna come
in and start changing the rules with traffic, uh, family issues, uh,
(17:40):
you know, and then then they're gonna say something to you.
They're really gonna make you mad. You know, your job
kind of far but you know all that. But you
knew all that when you hire that person, because guess
what they told you where they lived, but you ignored it.
You ignored it. So Angela, thank you for calling. These
(18:03):
are some of the little things. And I'm not finished.
So keep you keep your radio on because I got
more to talk about. Keep your podcast on all that,
guess I will. Now, here's the problem that a lot
of people have when they open the business. This I'm
talking to business owner's talking to entrepreneurs. Listen to me, Parking.
(18:24):
I don't know why people think they can just open up,
open up a business and not worry about parking. I
had a comedy club, y'all. See I see see that
comedy club taught me a lot, y'all. I had no parking.
All my parking was on the streets, out there on
the streets. Three hundred people cars parked out there on
(18:47):
the street, up and down the streets all up. Boy,
I was popular, though, But guess what happens when you
just parking any kind of way, any kind of way,
any kind of place. Bad things start happening. Bad people
start showing up, start busting in car windows, so people
(19:09):
would leave my comedy shows, come back in over shown
my car being broken into. So what So then my
insurance got to cover that. So suddenly my insurance starts
going up because I got a business, beautiful building, fantastic
(19:34):
no parking though, if I ignored the no parking issue,
because guess what, I fell in love with the building,
So I had to hire people to walk up and
down the streets to stop people from busting into cars.
(19:54):
Now you see why I wasn't making no money When
you make all these ignorant decisions, no budget in business.
Somebody didn't know by the leasing the building for two
years with no parking.
Speaker 1 (20:12):
Rule.
Speaker 2 (20:15):
I'm gonna close this out about this person you should
never ever hire. Do not hire inexperience employees because they
are cheaper. I'm I'm let you just let that soak
in a minute. Do not hire inexperience employees because they
(20:37):
are cheaper. One they have no leadership abilities. Two they
need constant supervision. Three they do not understand the position
and the company. It will not help you win. W
(20:57):
I in capital letters long term. I'm to put a
little quote around here. I said something by relatives. Do
not hire friends. I've done that. It has burnt me.
(21:19):
When it came time to make a decision. They reminded
me that I did them wrong. They reminded me that
they were the victim. They reminded me that I didn't
know what I was doing. And you're exactly right, because
(21:40):
I was running a business based on friendship, no budget, family,
and a partner I didn't know. You cannot win like that.
Ladies and gentlemen, as you listen to me talk about
marketing and branding and how to be a successful business owner,
the bottom line it's on you look in the mirror
(22:03):
and make a decision that benefits you, your family, and
your future. This has been another edition of Money Making
Conversation Masterclass posted by me Rashaun McDonald. Thank you to
our guests on the show today and thank you o
listening to audience now. If you want to listen to
any episode I want to be a guest on the show,
visit Moneymakingconversations dot com. Our social media handle is money
(22:26):
Making Conversation. Join us next week and remember to always
leave with your gifts. Keep winning.
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