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Business, Entrepreneurship, Leadership

Determine what makes you happy and find a way to make money doing that!

Our featured guest today is Marvin Wilmoth.

Marvin is Managing Principal and Co-founder of Generation Development Group, a boutique real estate development and consulting firm focused on providing housing solutions with the goal of creating transformational communities. Throughout the course of his career, he has been responsible for the financing, development and/or construction of over 1,800 units in multiple states and US territories with a total development cost of approximately $500 million dollars. 

Marvin is also committed to civic service and was elected in November 2018 as the Vice Mayor and Harbor Island Commissioner for North Bay Village, Florida. Prior to being elected, Marvin served as Vice-Chair of the North Bay Village Planning and Zoning Board and Vice-Chair of the Charter Review Board.

He is the recipient of several community awards including Success Magazine’s 2010 Top 40 under 40, 2012 Business Leader Magazine South Florida Movers and Shakers Award, and the 2016 BMe Community Leader Award. Marvin has also participated in several leadership programs including The Miami Foundation’s Miami Fellows Program,  Leadership Florida’s Connect Florida Program and The German Marshall Fund’s Marshall Memorial Fellowship.

Marvin earned a B.S. in Business Administration and an M.B.A. from Florida A&M University as well as an M.S. in Real Estate Development from Columbia University.

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KEY POINTS FROM MARVIN:

  • I was just recently selected for the Marshall Memorial Fellowship which was part of the German Marshall Fund.
  • If you want to build and generate wealth, you’re going to have to create something or own something.
  • The metrics about what “ successful” development looks like are off.  It’s purely financial and does not consider the humanistic element of community.
  • When we think about community, the things we use to determine success have nothing to do with financial returns.  
  • We created a new model that focuses on utilizing the social determinants of health as the drivers for creating value in the community.
  • By thinking through strategically where you’re trying to go, you’ll have a higher likelihood of achieving that success.
  • People don’t invest in businesses they invest in people; so, if they don’t believe in you as a leader and your ability to execute, you will never raise money.
  • Determine what makes you happy and find a way to make money doing that.
  • Every morning, after I pray for all the great things that I have in my life including my wife, I take an hour to strategize about what I want to accomplish that day and recheck the things that I wanted to accomplish the day before and how far off I am from that.
  • To maintain clarity on your goals, focus specifically on what you want to accomplish, and get rid of the rest.
  • It’s very easy to get lost in the minutiae of the day-to-day and then wake up several months later and realize that you haven’t made a much larger impact.
  • The noise of life consumes you the moment you open your eyes each morning, and without clarity and set goals and tasks everybody else’s noise will take over your life.
  • Read books and educate and expose yourself to things that are outside of your skillset.

 

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.

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