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What a recession means for black America

by Algernon Austin

Recessions hurt. And they hurt the poor and socially marginalized populations the most. Continue Reading

One of the major problems that I feel really sabotage a large number of African Americans to a great extent is our poor attitude towards education. Education in particular financial education is ultimately going to be the key to our success if we choose to build black wealth not only within our own families or for ourselves but also helping to build this in our communities.

The major beefs that I hear from other African people from all over the world, whether they are Ethiopian or Jamaicans or Africans from Africa or anywhere else, they have the impression and been lead to believe that most African Americans do not value education and do not value the opportunity that we have here in America.

They believe that we have it easy, that we are lazy, violent, ignorant, disrespectful and I have to admit that we prove them right on too many occasions. What we are doing, and how we act has put a blemish on what many of our great Black leaders sacrificed risked their life and died for.

Education is the gateway to many many opportunities but time and time again many Blacks think that just having a 9-5 job is enough. I don’t even mean just going to college and thinking that is enough because it isn’t. Education is a lifelong process and we should cherish the fact that as Africans living in America we have the chance to attend some of the best schools in the world! We take for granted many things that people around the world WOULD DIE FOR!

Look at the lives of many successful wealthy people in America and you will see that they continue year by year to improve their knowledge, going to seminars, surrounding themselves with smart intelligent people, reading books, listening to audio tapes, etc just basically investing in their education. How do you think these successful people keep their money? How do you think they can compete against the competition if they don’t have the knowledge and information to stay one step ahead of the game?

With education you can create unlimited wealth, by having the attitude of striving to be the best at what you do and having a deep amount of expertise, knowledge, and experience only then will you rise above the competition and making it into millionaire or even billionaire territory! Black wealth is only going to come when you finally decide to take back your life and strive to be the best no matter how difficult it may be. Until we all decide enough is enough the problems we face in our community are never going to get better, it takes you who are reading this to look at your life and find out what you can do to improve things. The time for talk and no action is over, I write this Blog in efforts to inspire action plain and simple. I’m tired of rhetoric from our leaders with no definite plan. Change is going to come from regular people like me and you. What I do know is we all need to stop taking for granted what we have, pick up a good educational book, learn a skill, plan your future and let’s start getting busy. In future posts I will outline some simple things we can do to further our education immensely.

This guy is amazing he started his first company at age 9 and just has continued on and on building many successful companies and still in High School! It makes me very proud to see a young black person at his age who is very serious, has a great attitude and has the desire to give back to his community and ultimately to society as a whole. I encourage all Black people to take a gander at this video and if you have children this should be your number one goal and that is to instill these great qualities that Hezekiah is exhibiting, what he displays is nothing short of inspirational and in my opinion the key to Black Wealth.

Check out this very inspirational and motivational video with celebrity Farrah Gray who at 14 years old made his first Million! In regards to wealth building and black wealth he talks about one of the things that impact most people from realizing their goals and aspirations and that is FEAR. Whether it is fear of failure or fear of rejection, fear is ugly and fear can stop you dead in your tracks. Learn from fear and decide that no matter what fear you have it can be conquered and you can accomplish what you set out to do.

If you have a business online SEO should be very important to you. In a nutshell SEO (Search Engine Optimization) is a method where you optimize your website so it is search engine friendly so that if you have a business that sells dog food, whenever someone goes to Google or Yahoo or whatever search engine and searches on the keyword “dog food” your website will show up in the search results hopefully on the first page! SEO can be very complex and depending on your website/blog it takes some research and testing to get the results you want.

I recently listened to a terrific audio taped teleconference with host Lee Milteer and her special guest Keith Cameron-Smith a successful Author and Entrepreneur. Lee has an awesome program called the Millionaire Mindset where she taps the brains of many successful Entrepreneurs in efforts to find out what makes them tick, how they achieved what they have and how they continue to improve and create successful businesses as Entrepreneurs. The course is called Millionaire Mindset because she extracts from her guests the attitude, mindset and basically the way that many successful Entrepreneurs think.

My Brief Notes: (based on Keith Cameron-Smith’s book)

Top 10 distinctions between how millionaires think and how middle class and lower class think!

10. Millionaires think long term, middle class and poor think short term

• The very poor tend to think day to day
• The poor tend to think week to week
• The middle class tend to think month to month
• The rich tend to think year to year
• The very rich tend to think decade to decade (10-20 year strategic plans)

• The primary goal for the very poor and poor is SURVIVAL
• The primary goal for the middle class is COMFORT
• The primary goal for the rich and very rich is FREEDOM (and they will do whatever it takes to experience an abundance of freedom)

****Seek and you shall find mindset****
If you seek to survive you will
If you seek to be comfortable you will be
If you seek freedom you will find it

“One of the reasons you must learn to think long term is because it takes longer to become free than it does to acquire survival, it takes longer to become free than it does to become comfortable.”

“You have to have business plans that go at least 1 year into the future, a lot of multimillionaires have business plans that go at least 10 years into the future. This allows the rich and wealthy to have a very clear vision into the future of where they want to be and how they want to achieve.”

“Where do you want to be 5 years from now? Where do you want to be 10 years from now? If you don’t ask yourself those questions you should be asking yourself these questions on a daily basis or at least on a weekly basis.”

“The rich and wealthy have developed the discipline of delayed gratification which has helped them to achieve their wealth. Giving up something today for something that you want more of tomorrow. Give up a little bit of your comfort today so that you can be free tomorrow”

“Also if you think longterm in all of your relationships your going to think more and more from a win-win perspective. As entrepreneurs it is the relationships that we cultivate that really makes us rich. Success in life is all about successful relationships.”

Thinking long term works in every area of your life, from thinking long term about your health, that means eating right, exercising, etc.

9.

• Millionaires talk about IDEAS and make things happen
• The Middle class talk about other people and other things and watch things happen
• The Very poor will talk about other people and end up saying what happened

Power Tips for thinking like a millionaire

• Spend more time talking about ideas instead of “things”
• Millionaires come up with ideas that the middle class spend their money on
• Build the right relationships with the right people at the right time
• Look for relationships that you can build long term (no one night stands!)

8.

• Millionaires embrace change and the middle class and poor are threatened by change
• Middle class people assume when change is presented to them that it is going to be negative, painful or bad one way or another.
• Millionaires think that when change is presented to them that if its good then hey that’s great but if its bad or seems to be negative that’s okay because now they have an opportunity to learn and grow. They believe that change is going to benefit them either way positive or negative. Either by learning from what change brings or by accepting the benefits from change if it is good.

7.

Millionaires take calculated risk, the middle class are afraid to take risk.

A calculated risk is when you increase your knowledge first on whatever endeavor you want to partake that may be risky (another way you could put it is doing your due diligence) and then consider the consequences of failing BEFORE you take action.

Ask yourself these 3 questions:

• What’s the best that could happen
• What’s the worst that could happen
• What’s the most likely that could happen

Here is the insight…
If the most likely thing that could happen brings you closer to your goals and if the worst thing that could happen DOES happen and you are willing to live with that, then you go for it.
On the flipside…

If the most likely thing that could happen does happen and it doesn’t bring you closer to your goals, and if the worst that could happen does happen and you aren’t willing to live with that and go through that, then don’t do it.
There is a lot more that I could include but I just wanted to show you some of the fabulous material that was presented in this segment of Lee Milteer’s Millionaire Mindset. I encourage you to check out her program and sign up. Also pickup a copy of Keith Cameron-Smith’s book which you should be able to find on amazon.com or at his website (just do a search in Google)

This video shares some of the basics involved in setting up your own business. Even if you have already started your business this can serve as a good review to help ensure you covered all your bases and to help make all your business endeavors successful.

I am not interested in the fame (I only want the fortune), but it is interesting to see how some people like to spend their money. In this case not many people can afford this gigantic mansion but it is still healthy for us to dream. If you work diligently and smart to build your wealth you deserve to have some expensive items. This is definitely a beautiful mansion.

This looks like a very good move for Microsoft to try to scoop up Yahoo for a hefty 44.6 Billion Dollars which will put the software giant in line to compete even more with Continue Reading