The Secret to Turning Humble Beginnings into Billion-Dollar Rockets – Dr Boyce Watkins

The Black Financial Channel is a news and business channel designed specifically for the African American community. We give daily financial updates on stock markets, investing and other related topics that appear in financial news.

The Black Financial Channel is sponsored by The Black Business School. To join The Black Business School and get started for free, please visit http://TheBlackBusinessSchool.com.

You can enroll in Dr Watkins’ Stock Market Investing class by visiting http://TheBlackStockMarketProgram.com.

Transcript for the video is below:

And I said man if we could understand that that most of these great big corporations that you admire everything you look up to everything that you that’s in awe for you all these businesses start off with very humble beginnings McDonald’s was started off McDonald’s is worth hundreds of billions of dollars It started off by the McDonald’s brothers who just knew how to make hamburgers and cheeseburgers really fast That’s what they figured out a system to make cheeseburgers and hamburgers really quickly And then that got scaled out by Ray Crock and it became McDonald’s Coca-Cola was started by a guy who literally invented the Coke formula with literal cocaine to help him overcome his morphine addiction from the Civil War And the Coca-Cola brand was sold for maybe like four or five hundred dollars because unfortunately the drugs ended up costing him and his family He ended up selling it off really really cheap And so so effectively what happens is that when you don’t see the long term vision of what you have or you let things distract you like drugs have distracted so many of our families you’ll sell out really cheap You’ll sell your future out really cheap And next thing you know whatever you were going to have is gone Or you look at an NBA athlete who makes a hundred million dollars and they get distracted by whether it’s drugs or women or which is another type of a drug or whatever And next thing you know this this chance to build a multi billion dollar fortune is gone Or you look at death row records when Shug Knight and and Tupac pretty much controlled the entire music industry They had the most powerful entity in all of music Pretty much it could have become universal records It could have become you know he could have become the next Clive Davis or whatever he wanted to be But instead he got distracted by a bad culture They ended up killing what could have become a half trillion dollar company Right So because there’s no reason why death row records with as many hits as they were putting out couldn’t have become as big as Sony Music or whatever The problem is that you had a rocket and this rocket was headed to the moon but nobody knew how to drive a rocket People drove a rocket like it was like it was like it was like it was a Corvette or something You know they drove the rocket They got the rocket like they were guiding their bicycle And so the rocket ended up crashing Right So what you need is you need kids that understand how to drive a rocket because what’s going to happen is they’re going to run into some opportunity A Suge Knight death row records level opportunity or an opportunity like the like this Boston Celtics player who has an opportunity with this 300 million dollar contract And they’re going to need to know how to drive this rocket and be able to visualize how far this rocket could go Right If your vision is tiny then your rocket will not go very far You cannot go into outer space if you can’t see past the end of the block Right And that’s the problem You have people that literally have rockets that can go to outer space but they can’t even see past downtown Chicago

source