Dr. Dennis Kimbro
Dr. Dennis Kimbro: Get Rich... Don't Die Trying
Story and Interview By Matthew Shack
((( Dennis Kimbro MP3 Audio Interview Below )))
According to Forbes in April 2013, the richest person in Hip-Hop is Sean ‘Diddy’ Combs with an estimated net worth of $580 million.
Rapper Jay-Z came in second place with his net worth of $475 million.
Dr. Dre ranked third with $350 million after pocketing millions from sales of his “Beats by Dre” headphones.
Cash Money/Young Money’s Bryan “Birdman” Williams ranked fourth, with a net worth of $150 million.
Rounding out the top five was 50 Cent whose $125 million net worth is still strong due to sound investments, previous record sales and mechandising.
Let US ask you a question that WE already know the answer to; DO YOU WANT TO BE RICH OR WEALTHY??
That answer should be a resounding, "YES," if you want to live the Hip-Hop Lifestyle or if you plan to be a successful urban entrepreneur.
Dr. Dennis Kimbro, PhD, a best-selling author of five books including completing Napoleon Hill’s original manuscript, Think and Grow Rich: A Black Choice into a must have for those minorities seeking to accumulate wealth.
He is also a writing partner and master trainer for the prestigious Napoleon Hill Foundation, and a recipient of the Dale Carnegie Personal Achievement award.
Based on a seven-year study of 1,000 of the wealthiest African Americans including, Bob Johnson, Cathy Hughes, Spike Lee, L.A. Reid, Hermain Cain, T.D. Jakes and Tyrese Gibson, his new book The Wealth Choice: Success Secrets of Black Millionaires showcases the paths and more importantly, the money lessons that they used to amass riches.
In other words, Dr. Kimbro is an expert on how Black Millionaires get wealthy, and this is why The Flow Online is speaking with him.
It would be to your benefit to read along and pick up some tools to build your own bridge; or pay to cross over someone else’s.
TFO: With your current book The Wealth Choice, give us an idea of what your focus is in putting out this particular novel.
Dr. Kimbro: Well, the two drivers for this book was a conversation that I had years ago with United Nations Ambassador Andrew Young. During the course of that conversation he said, “Fifty years ago, Dr. King and I integrated the lunch counter but we never integrated the dollar.” My follow-up question was “How do you integrate the dollar?” And he said, “You got to make sure that people are armed to the keys and the skill sets to be effective in a free enterprise system.” And that has been a void in the black community for years. And let me put it this way, given the circumstances and given the roadblocks with the challenges and the obstacles, Black America has done one hell of a job but there is so much more work to do. Because when you look at all the indicator than lead to economic success in this country, we are in last place or next to last place. Apparently, 27% of African Americans spend more on a weekly basis than what they bring in. 30% of Black America has no savings plan at all. 35% of black children are born and will be raised in poverty. And more than 40% of Black America they don’t even use a financial intuition for their banking. But here is a way out. And the reason is why this book is it so critically important is because this is the first time black men and women, who have came from nothing and in many cases below nothing, have reached their financial goals and objectives, and have a seven figure income, and they did it without anyone placing a microphone in front of them or a ball in their hand to do it.
TFO: As an urban entrepreneur, I have noticed that within the black community, it is not truly a matter of lack of money. It is because we are more consumers than we are producers of products and services. If I am correct, isn’t Black America the highest spending minority in this country? Is that true?
Dr. Kimbo: Without a doubt. Wall Street certainly knows what Black America will do with its money. And the reason why we are impacted is number 1; no ethnic group watches nearly as much TV as Black America. The average African American watches 76 hours of television per week. If you compare that with black millionaires,the average black millionaire only watches four hours of TV a day, which equates to 28 hours per week, which is 1/3 of the African American viewing time. And it is within that 76 hours that we are bombarded with them going after that market segment. You are exactly right. $1.2 trillion dollars goes though ours hands on an annual basis with absolutely nothing to show from it.
TFO: Within the Hip Hop Lifestyle, including many of my friends, the way they judge their wealth is by how many things they possess. It’s not necessarily just ‘making a living’, its “I got the new car, I’ve got the new rims, I have the new stereo.” They’re stockpiling all of these materialistic items to give themselves a sense of value. What is the next plan of attack with us as a people need to do to put ourselves in the proper place when it comes to accumulating wealth?
Dr. Kimbro: Well, number one is to obey the first law of wealth. Number one is knowledge. Wealth begins in the mind and ends in the purse. Several seven figured financially people told me this in focus groups, “If an individual looks rich, or looks wealthy, chances are they aren’t." Because, these men and women are very frugal. As one participant in the focus group told me up in Detroit, he says, “The poor keep score by cars and clothes, the middle class keeps score by degrees and titles, but the wealthy keep score by their bank account.” And that is the bottom line. They pay themselves first and they work for profit, not wages. There are ten different forms of wealth and money is number three. Money is not number one. The number one form of wealth is knowledge.
TFO: For those entrepreneurs out there, what is the best advice you can give them for them to get opportunities to be successful if you have limited funds and you can't get a loan?
Dr. Kimbro: Number one, you have to change your mind set. THERE IS NO LIMITED FUNDS. First of all, if I had a glass of water in my hand and I took that glass of water into a chemistry class and I broke it down to the finest components, it would come back two parts hydrogen and one part oxygen. Is that not correct?
TFO: That is absolutely correct.
Dr. Kimbro:Okay, if I take that dream that is in the head of the entrepreneur that are [reading and listening] and I took that same dream into the chemistry class, I would also come out with two components. Number one, BELIEVE and number two, DON'T GIVE UP... DON'T QUIT! So it's the same thing. There is no lack of funds. Your creator didn't create a lack of anything. Abundance is always around him.
((( Dennis Kimbro MP3 Audio Interview Below )))