In this episode, Leonard paints a vivid picture of the domestic terrorism of 1921 in Tulsa, Oklahoma, and analyzes what we can learn from the biggest domestic terrorist act in the United States of America. In this week’s Kings’ Recommendations segment, Leonard recommends Na’im Akbar’s book, Know Thyself (https://www.amazon.com/Know-Thyself-Naim-Akbar/dp/0935257063). And Leonard quotes Napolean, “History is a set of lies agreed upon.”
CNN article titled “Blacks still far behind whites in wealth and income”: http://money.cnn.com/2016/06/27/news/economy/racial-wealth-gap-blacks-whites/index.html
“A Generation of Jordan’s blog”:
How can we build new Black Wall Streets?
1. Master your craft — Robert Greene’s Mastery recommends every professional earns 10,000 hours studying their craft.
2. Master the art and science of money — It’s important that we save, invest, and seek ways to allow our money to create more money.
3. Scale your expertise — First, your first stream of income simply comes by doing your job. Second, you should leverage your expertise by creating products to sell related to your business. For example, if you are a barber, you should create, market, and sell haircare products that benefit your clients. Third, continue to utilize your expertise by teaching others in your industry. For example, if you are a beautician who has a special method to braid hair quickly, why not teach other professionals in your industry how to do that? That would be your second core client base.
4. Transition to entrepreneur — Every Black professional’s goal should be to own his or her own. Last episode, we mentioned Dr. Lauren Elise who does social media marketing as her primary source of income (step 1), and who has a social media marketing company. Ownership is the key to building generational wealth.
5. Buy the building and add more minorities businesses to your business community — There is nothing more frustrating than seeing a successful Black entrepreneur continually pay rent for his or her business space. Buy the building similar to O.W. Gurley and lease space to other African American entrepreneurs.
By following these five steps, we can build Black Wall Streets throughout the country and dramatically change the status quo. After listening, please share this podcast with 3 friends, type The 3 Bearded Kings using the search option, click our logo, click the “Reviews” tab, and select “Write a Review.” Also, please follow us on Instagram, Facebook, YouTube and Twitter.