The African American Business Owner, Building True Wealth

Putting In The Work

Episode Summary

All African-American business owners need to put in the work to see real results and to make real progress. This month is Black History Month, so it’s important for all African-American entrepreneurs to find inspiration in the accomplishments of the heroes that came before them. They should find their own sources of inspiration, as this will keep them focused on pursuing the goal that they have set for themselves. Ron Escoffery is a serial entrepreneur who’s faced these challenges himself, failed more than once, but has ultimately come out on top. He’s published three books on his experiences and, in this new podcast, is broadening the discussion on what it means to build true wealth and how to achieve it. On the 16th episode of the African-American Business Owners Podcast, Ron Escoffery discusses the importance of putting in the right amount of work. He also gives three steps that every aspiring lifestyle entrepreneur should take on their road to success and reiterates the importance of having a real estate background when it comes to building wealth.

Episode Notes

Topics Covered:

Those that came before us put in the work. [0:36]
Opening remarks [1:24]
Putting in the work allows you to make progress. [2:44]
What does the destination look like? [4:26]
Most of us are busy putting together information to start preparing our taxes. [5:17]
Some of us may not have a person to keep us on track. [6:55]
You want a business that supports your lifestyle. [7:45]
The first step is to get clear on why you are in business. [9:00]
The second step is to determine today what resources you have and what you need. [10:54]
The third step is to decide what business you want to get into. [12:15]
What business can become a self-managing business? [13:55]
Every time you read about wealthy people, you can’t avoid hearing that real estate is a big part of their portfolio [15:15]
Closing remarks [16:06]

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