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August 2009
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The Economics of Michael Jackson
Who knew that Michael Jackson was one of the wealthiest Black Americans? A look inside the financial life of the "King of Pop."
Microcredit in the Hood: Can it Work?
What is the difference between making small loans to Bangladeshi women than to Black Americans in the hood?
New Section!
Letters From Our Readers
Re: The Economics of Black Women
James, loved your newsletter. Would you please send me more info on your wealth coaching services?
Thanks! -Diannah Neptune
Financial Hip-Hop
"Maybe You'll be a Millionaire"
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"The Entrepreneurial Employee"
"Education can make you make middle class,
innovation can make you wealthy"
- James "Bird" Guess
I have received several emails requesting the need for advice on making the transition from employee to entrepreneur. These are the two main players in this "Game of Money & Wealth. However, the most beautiful thing about "Capitalist America" and playing this game is that you can promote yourself to success and develop into either player of your choice.
If you choose to remain an employee and work for someone else, and you are passionate about what you do, then congratulations, I wish you nothing but the best. But if your goal is to become more than an employee and eventually develop into an entrepreneur, then you are just getting started.
From this day forward, I want you to incorporate yourself. Set up You Inc. (Incorporated) and start operating your life like a business and began to think like a successful entrepreneur. Why do I suggest that you operate your life like a business and start thinking like an entrepreneur? For you to become one of the best at making money, you have to practice and study the best. Remember, if you study and practice like the best long enough, you will become one of the best soon enough.
So who are the best? The most successful individuals at earning money and accumulating wealth are entrepreneurs (65% of millionaires) and top executives who run Fortune 500 corporations. Just like a business generates revenue from selling products and services, You Inc. generate income from selling your labor/skills.
A business also has operating expenses that help the business produce, market, and distribute products and services. Your operating expenses are your living expenses including food, housing, clothing, and transportation.
At the end of every month you should have a profit, loss, or breakeven. I want you to focus on making You Inc. and your family (co-owners) more profitable. If you cannot make You Inc. profitable, how do you expect to a make another business profitable?
 Create Wealth, Enjoy Life!
James "Bird" Guess
President & Founder
TheBlackEconomy.com
staff@theblackeconomy.com
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