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Entrepreneurship, Leadership, Wealth

Our featured trailblazer today is Dr. Dennis Kimbro.

He’s spent his entire career interviewing peak performers all over the world, and gleaning the best ideas, strategies and success principles from their words. He’s heard the same things enough times to know that all people who succeed tend to follow the same path and that all people who have not succeeded yet tend to fall into the same pit over and over again.

Dennis Kimbro is a best-selling author of five books, writing partner and master trainer for the prestigious Napoleon Hill Foundation, and is on the faculty at Clark Atlanta University School of Business Administration. He is a recipient of the Dale Carnegie Personal Achievement award.

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KEY POINTS FROM DR. KIMBRO:

  • At the counter of success there are no bargains, you must pay the price and you must pay the price in advance and in full.
  • The average individual in our society gets 4 ideas a year.  If you had the guts, the courage, and the fortitude to chase your dream, you might be financially independent. 
  • You get 30,000 days on earth.  Time is not running out, but your life is. What are you going to do with the rest of life that you have left?
  •  There are 10 different forms of wealth
                1. Knowledge.  The pocketbook cant grow until the mind grows.
                2. Work habits.  Do your work.  Go the extra mile.
                3. Money. Multiple streams of income.
                4. Contacts. Networking is a critical skill.
                5. Creativity.  Business is a talent show.
                6. Persistence. The ability to hang on long after others have given up.
                7. Confidence and Charisma.  
                8. Luck.  The harder you work, you luckier you get.
                9. Energy.  High and low, fast and slow.
                10. Choosing the correct vocation.
  • Loving Relationships begins with the love of self.  I love approval but I don’t need it. Those people who love approval and don’t receive it will be immobilized.
  • You already have a job  your job is continuous growth and personal development, being better today than where you were yesterday.
  • The man or woman who wont control his finances won’t control anything else.
  • Nothing positive will ever occur in a community that fails to circulate its dollars.
  • At the rate that were going right now, it will take about 230 years to close the wealth gap.
  • For more than 250 years the quickest way to grow wealth in America was owning, buying and trading your first slave.
  • Because America never atoned for slavery, they had another act, followed by another act, followed by another act. There was slavery, then Jim Crow Laws, the Black Codes, Separate But Not Equal, Reconstruction, Redlining, Subprime Loans, and Mass Incarceration.
  • 27% of African Americans spend more on a weekly basis than what they bring in
  • 40% of African Americans dont have a savings plan
  • Almost 50% of African Americans dont even have a bank account
  • The #1 bank of Black American is Wal-Mart, #2 is the Post Office
  • There are more check cashing facilities in the State of Mississippi than McDonalds Restaurants
  • There are more check cashing facilities in the State of Alabama than Starbucks
  • We need a plan!  A roll-out plan, a national plan on financial literacy, and weve got to start in our Black churches.
  • The average dollar stays in the East Indian Community for 45 days before leaving.
  • The average dollar stays in the East Asian Community for 24 days before leaving.
  • The average dollar stays in the Jewish Community 19 days before leaving.
  • The average dollar stays in the Black Community 6 hours before leaving.
  • The 7 Laws of Wealth
    •  Wealth begins in the mind but ends in the purse.
    • Decide that you will not be poor. A little bit less talk and a little more do.
    • Believe in thyself when no one else will.
    • To thine own self be true; find your unique gifts. Find your area of excellence and pour your whole heart and soul into it.
    • How may I serve thee?  Service is the price you pay for the space you occupy
    • Thou shall own thy own business.
    • Make Thy Money Grow.
  • Three questions to ask in order to find your area of excellence:  
    • What do I love to do?
    • What would I do for free?
    • Ask someone else, “What do you see in me?”
  • An entrepreneur solves problems and serves people.  Solve a small problem, make a little money.  Solve a big problem, make a lot of money.
  • People will make you rich or people will make you poor, depending on your level of service.
  • Q+Q+MA=C.  The Quality of your service + the Quantity of your service + the Mental Attitude in which it was rendered = Compensation.
  • People dont care about you until they realize how much you care about them.
  • Any problem can be solved if enough people care.

THIS EPISODE WAS SPONSORED BY:

The Campaign for Black Male Achievement. Join, support and invest in this movement to help improve the life outcomes of our black men and boys.

ONE ACTION:

Turn inward.  Look at yourself.  You are responsible for you.  The circumstances that surrounds a man or woman's life are not important. It is how that individual responds to those circumstances that is the number one determining factor of whether that individual fails or succeeds.

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