Dr. Dennis Kimbro is a best-selling author, master trainer for the prestigious Napoleon Hill Foundation, and serves on the faculty at Clark Atlanta University School of Business. He has spent his entire career interviewing peak performers and translating their ideas, strategies, and success principles into words that the average person can understand. You have probably seen Dr. Kimbro on the Today Show, CNN, The Wall Street Journal, The New York Times, and USA Today sharing the keys to business success. The Wealth Choice: Success Secrets of Black Millionaires, his fifth book, is the result of Dr. Kimbro’s effort to reveal the success secrets of peak performing Black men and women in the business world. Below is my interview with Dr. Kimbro about his latest book.
Phillips: Why should people read The Wealth Choice?
Kimbro: In the black community, we don’t profile our wealth creators. Most black folks know the names of movie stars, reality TV personalities, and sports players, but most of us don’t know our black billionaires. We have to get a laptop and place it in the hands of every black school child and get their parents to understand that the words and images going through their head have an impact on their future. Black children need to know the stories of black millionaires and billionaires so that they can begin to dream big and aim for the stars. It’s never too early to begin to teach your children principles of success or too late to begin to make success principles apart of your life.
This book is for those people who have goals, people who want more for themselves, and people who want more for their children. The goal might be to earn an additional $400 or to become a millionaire, but regardless of the goal, the important part is to make sure that your goals are measureable. In life we have two choices: accept our present situation or change our situation. The Wealth Choice is about the later.
Phillips: What roles does faith play in building wealth?
Kimbro: We (black Americans) beat out every other group in attending regular church services but we are losing in every economic or finance statistic (such as: home ownership, education, marriage, and savings). The truth is many black folks view faith as a proper behavior response, but in the business world faith is an action verb. Faith allowed Bob Johnson, former CEO of Black Entertainment Television, to launch the first major black owned cable channel. He waited for hours in McDonald’s to get a chance to pitch his channel to their business executives. Tyler Perry told me that it was nothing but his faith in God that allowed him to go from living in his car to owning a movie studio.
As a community, we must remove our poverty mindset and view the world as a place with an abundance of opportunities. Last year was the 50th anniversary of Dr. Martin Luther King’s March on Washington. During the time of Dr. King’s march, one in twenty blacks were on a public assistance program, but now one in five blacks are receiving government assistance. We are regressing and the forecast for us looks very bleak. Over the next decade, the largest black middle class will be in Africa. In 50 years, we couldn’t hold on and carry the torch for Dr. Martin Luther King’s dream. Civil rights leaders used their faith to get black folks on a level social playing field and now we must use our faith to create a level economic playing field.
Phillips: Does the current economic situation make it harder to become a millionaire?
Kimbro: It’s much easier to become a millionaire in today’s economic environment. Right now, more millionaires are created in internet-based businesses. Now is the best time to start a business because business owners can make use of the two billion people who are online. We can use the internet as a place to watch videos, gossips, and play games or we can use the internet as a vehicle to create wealth.
In the black community, I think we are producing fewer millionaires because we think capitalism is a dirty word. It’s not! Capitalism just means that everything is for sale. As a community, we have to go into business and start selling products, goods, and services to become competitive in the global marketplace. Since the time of the Civil Rights Movement, we should have produced at least 300,000 black millionaires by now. Quickly, as a community we have to get rid of the victim mentality and start competing in the marketplace.