“The person that is doing the job that you have, do they have the right experience?  Do they have the right qualification or it's just a body?” - Ron Escoffery.  

In today's episode of African-American Busines Owners Podcast: Building True Wealth with your host, Ron Escoffery. He’s gonna talk about why and how you should choose the right people for your business.

Tune in to this podcast and learn the importance of employees, teams, and systems in your company. And see how it will help you become a financially successful business owner and build personal wealth for yourself!

Episode Highlights

[02:26] Biggest Challenge in Entrepreneurs 

[02:43] Reasons why we want to be Entrepreneurs 

[05:23] People, System, and Money: The Three Biggest Challenges for Minority Business 

[11:05] Why it is Important to train our Employees

[15:31] No Man is an Island: Ron’s Thought on Team and Business Owners with Mentors

[17:51] Questions that you should start asking yourself

Links:

Website: www.ronescoffery.com

Email: ronescoffery@gmail.com

LinkedIn: Ron Escoffery

Facebook: Ronald Escoffery

Twitter: Ron Escoffery

Episode Highlights

• [00:45] Wealth Inequality: Why do the gaps keep getting wider?
• [05:40] Why you should unfollow the Joneses and the Gurus
• [10:30] Being clear of your lifestyle and what you really want
• [11:58] The Difference Between ‘Buying’ and ‘Affording’
• [13:37] The Truth Behind Saving Money
• [17:36] What does it really mean to be WEALTHY or just acting rich?
• [18:53] How can you tell if it's working?
• [24:07] The Reason Behind this Podcast

Links:

Website: www.ronescoffery.com

Email: ronescoffery@gmail.com

LinkedIn: Ron Escoffery

Facebook: Ronald Escoffery

Twitter: Ron Escoffery

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]

Connect with Ron Escoffery:

• ronescoffery.com
• ronescoffery@gmail.com
• (404) 626 1425

Don’t miss the next episode! Subscribe to the African-American Business Owners Podcast on SimpleCast or register here https://bit.ly/SubscribetoRonEscoffery.

Topics Covered:

• The wealthy get wealthier, the poor get poorer. [1:17]
• We want you to become aware of what’s happening. [2:14]
• Why are we not making progress? [3:33]
• Look at yourself before your business. [3:45]
• Last year we had to pivot because of the pandemic. [4:25]
• Do you have a business or a job? [5:17]
• $40,258 is the average income for African-American households. [6:17]
• The biggest problem for African-American business owners is mentorship. [7:35]
• As entrepreneurs, we know that we will have challenges. [10:00]
• If we are already skilled, why are we still failing? [10:54]
• Entrepreneurship is a lonely occupation. [11:51]
• Mentorship is not an expense, but an investment. [12:50]
• Sometimes you just have to be honest and open with people. [13:55]
• It’s a new day. [15:15]
• A lifestyle is what you desire. [16:06]
• Track your progress. [16:36]
• We can develop strategies. [17:55]
• Let 2021 be your transformation year. [19:00]
• You can be very successful this year. [19:51]
• If all you do is think, that’s all you will do. [20:31]
• Closing remarks [21:34]

Connect with Ron Escoffery:

• ronescoffery.com
• ronescoffery@gmail.com
• (404) 626 1425

Don’t miss the next episode! Subscribe to the African-American Business Owners Podcast on SimpleCast or register here https://bit.ly/SubscribetoRonEscoffery.

Topics Covered:

• As business owners, we must decide what kind of future we want. [1:17]
• This is a good time to start becoming a lifestyle entrepreneur. [2:14]
• Sometimes, we still live paycheck to paycheck. [3:00]
• Look at yourself before your business. [3:45]
• We’re working on our future lives. [4:43]
• Avoid get-rich-quick schemes. [5:27]
• Look at what worked for you in 2020. [6:04]
• Be careful when deciding the type of business you will establish. [6:58]
• Do you have consistent cash flow? [7:55]
• Real estate is a good way of starting out. [8:51]
• Take a look at adding real estate to your portfolio. [9:48]
• Real estate investments really helped me. [11:15]
• Where does the money for all these big apartment buildings come from? [12:34]
• How much return have you had on your 41K/IRA? [13:30]
• You are worried about your retirement. [15:27]
• Adding real estate to your portfolio is a wise decision. [16:19]
• Don’t do the same things and expect different results. [17:20]
• Closing remarks [20:00]

Connect with Ron Escoffery:

• ronescoffery.com
• ronescoffery@gmail.com
• (404) 626 1425

Don’t miss the next episode! Subscribe to the African-American Business Owners Podcast on SimpleCast or register here https://bit.ly/SubscribetoRonEscoffery.

Topics Covered:

• When we reflect, we often dwell on the negative (3:27)
• Most resolutions don’t come true because we didn’t believe that we could achieve them (4:11)
• You need to have the mindset that it is possible (5:12)
• Why are you doing this? (6:48)
• What really makes resolutions work are our habits and systems (7:37)
• Don’t make resolutions this year unless you’re committed to keeping them (9:03)

Connect with Ron Escoffery:

• ronescoffery.com
• ronescoffery@gmail.com
• (404) 626 1425

Don’t miss the next episode! Subscribe to the African-American Business Owners Podcast on SimpleCast or register here https://bit.ly/SubscribetoRonEscoffery.

Topics Covered:

• You have to see progress in business and life (1:32)
• Having abundances in financial life while relaxing (1:50)
• This year has been different due to the pandemic (3:28)
• We’ve had to endure many challenges that we weren’t ready for (3:51)
• What is one thing you can tell yourself that you’ve learned this year? (5:12)
• You just have to do the work (8:54)
• Set different goals for 2021 (9:27)
• Be the person you were meant to be (9:56)
• Don’t overthink about your debts and compare yourself to others (13:01)
• It’s a new you, a new day, you have to be different (13:43)
• Be serious about your goals, and leave the rest alone (14:54)

Connect with Ron Escoffery:

• ronescoffery.com
• ronescoffery@gmail.com
• (404) 626 1425

Don’t miss the next episode! Subscribe to the African-American Business Owners Podcast on SimpleCast or register here https://bit.ly/SubscribetoRonEscoffery.

Topics Covered:

• December is the month of ambitious plans [1:53]
• If you do not start with the “Why”, you’re going to fail.. [3:56]
• I want more financial abundance [6:13]
• Money doesn’t give you joy and happiness. [7:41]
• Change the way you think [9:14]
• First reason why people fail in reaching their goals... [9:57]
• Ask yourself “Who am I?” [11:00]
• Second reason why we fail is choosing the wrong business model [13:05]
• Depend on your training [14:15]
• What you bought was information with no implementation [15:08]
• You are unique and different from everyone else [16:00]
• Story of my friend and his trucking business [16:40]
• Do not follow your friends into business [17:38]
• Don’t be a loner [18:45]
• You need some help [20:28]
• If you are not failing, you are not trying hard enough [21:20]
• Write down your 2021 goals [22:55]
• Start working on yourself [23:43]
• Closing remarks [24:27]

Connect with Ron Escoffery:

• ronescoffery.com
• ronescoffery@gmail.com
• (404) 626 1425

Don’t miss the next episode! Subscribe to the African-American Business Owners Podcast on SimpleCast or register here https://bit.ly/SubscribetoRonEscoffery.