 We here for business, we here to sell things. Don't be in so personally invested to a point when you don't know when to get out. That's at another level. You have to know when to sell, when to get out, because we have to generate wealth. The only way you can generate wealth is by selling. All right, we're back with another creative currency clip. And this one, Diddy is talking about control, ownership of your company, something that we hear a lot as a theme these days. But the reality of how the people who are winning, like him, really look at doing business, building business. And it might be a lot different than what you think. It probably is, because I don't hear many people talk to you this way. So we're going to react to a clip. And any of y'all who want to send us clips similar to this, DM us on Instagram or maybe even in the comment section below. Let us know. And before I get into the clip, make sure you subscribe because we can see how many of y'all subscribe for color videos like these. And the more who do it, the more we'll do videos talking about the money side of music, not just the campaigns or any of those videos y'all see of people trying to do fear tactics about the music industry. So let's get into it right now. So I want to talk about Sean Jones a little bit because coming up in the 90s, late 90s, by far my favorite clothing brand. And we show what that did for high level fashion. I don't want to call it urban fashion because that would be labeling. I want to talk about high level fashion because it was on Fifth Avenue and we were going to that store. I know it was sold, but recently you got it back. So talk about that journey to creating this brand of high level fashion and high level luxury. You know about Fifth Avenue? That's like the nice, nice area. We talking about Fist Plaza here in Atlanta. I'm assuming that's where like, I was about to say like Sacksfields. High fashion, the real money brands out there. So it was important you made that statement. Like it's just not anywhere, it's not in the hood. Like, yo, it was really on the block with the best of the best brands, so to speak, right? People with money, money, money might disagree. Walking past them. But you know the idea of what I'm saying. Yeah, yeah. Luke selling it and now getting it back and the purpose for it now. What's the vision for it? Yeah, even though they try to put us in a box with Sean John, I just didn't let him. Like my thoughts were, I have to dream bigger than you know what the reality is playing for me. And so with Sean John as a fashion label, I didn't want it to be just about streetwear. So that's why you saw the Sean John suits, the fragrance. All the things that a major white fashion house would have, I went in, I broke down those doors to make sure that it happened. But most importantly, it was just the striking lack of black talent in the world of fashion. When I, before he gets to any of that stuff, I think it's important to note what he just said about, I added fashion beyond just the streetwear. I got the suits, all right? All these other facets of my brand that are typical to a regular fashion house. When you look at the LVM and HHS or any of these other fashion houses, because otherwise they're gonna put me in this box and really I'm putting myself in this box by only selling to this category. And it doesn't mean I can't capitalize off of selling to the street artist and even use the streets to create validation and clout for my brand. But if I package it strictly in that way, then it's gonna limit everything else I can do. And I think Diddy's always been somebody, well, obviously he is, he just said it, right? Always been somebody who's been super conscious of the full package. How do I leverage the culture and what I come from but do it in a way where it's gonna order me for my next steps to continue to elevate, right? Cause we saw a lot of brands in music in that time that were streetwear brands that were popping. But he was the one who, he got in fragrances early. You know, he got into this Iraq and things like that. He did have suits. I think he won an award in fashion. Not one of the, oh yeah, I'm just selling a lot of money, but like prestigious awards in fashion, let me look it up. But you're like, doing that type of stuff, it positions you differently. And I think, especially as an artist and creative side, sometimes we just think about what we do creatively, but we don't think about how we package ourselves, sets us up for a next move, not just from a side of fans liking this from us, so they'll like something else from us in a similar space, but on a business side, certain doors will open or close based on how we get perceived by the powers that be, the gatekeepers, if you will, others that exist. I mean, I don't even think it's always as deep as the powers that be. Like I think sometimes it comes down to the customer base. Like if I'm a customer of a particular set of things I'm used to seeing all of the hot players that do this thing, do it a certain way, and then you come along and you're missing certain elements of it, I immediately start to think that either you're not to be taken as seriously or you're not doing it at the same level as there are, so it's like he could have created a high fashion brand with no fragrances, but if I'm going into the Louis store and the Gucci store and all these different stores, and I see like, oh, they have suits, they have the high end, streetwear section, they have the fragrances, they have accessories, but all you have are t-shirts and shoes, then I can't take you as seriously or even believe that you're even close to competing in the same category. They do, so I think it's even sometimes just, sometimes as simple as that, I gotta get the people to believe what I'm trying to, to believe in the vision I'm trying to sell them in order for me to do that, I have to have all components of the vision present. Fax, Fax, well said, and it says, the Council of Fashion Designers of America named Combs Top Men's Wear Designer of the Year for his Shawn and John collection at its annual award show on Monday, so he got the Top Men's Wear Designer of the Year. Yeah, I remember that. That's one of the, yeah, I do remember now too, now that I see some of the images, he beat veterans in previous winners, Ralph Lauren and Michael Kors. This was Combs' first win despite the previous nominations. So that positioning alone, being compared to and thought of against those brands versus being thought of against, I don't even know how you say it like Inichi, I never know how you say that one. Well, other brands, Fubu, things like that, which they did well with what they did, but obviously Shawn John did something completely different. That opens up those doors, so yeah, I like what you say, how you rounded up. I gotta interrupt this video real quick to let the artists and managers who are looking to grow know that I have a major announcement because as many of you know, we're bringing out JR McKee who is responsible for selling over 160 million records literally along with us, right? We wanna meet artists in person. However, many of you guys said, I can't make it to that event, Brandon, I really wanna make it. And I know that the information is gonna be great because I got to see the growth of artists who went last time. Great. We finally broke down and decided to allow artists to get access to a replay 30 days after the event. However, you have to buy your ticket to the event before the event. We're not gonna give anybody access to the event or the ability to submit their music for us to listen to if they don't purchase their ticket before the event, before it sells out, as many of you all know already, there's only 100 tickets available. So you will have the ability to get your music listened to be considered to have a free one-on-one call with me, JR McKee and Jacory. Also be shared on our social media platforms amounting to over 200,000 followers and be put in front of our record label distributor and manager friends, the people who can help you grow. And if they wanna reach out, like we'll help facilitate that. So that's the quick announcement. October 15th, www.nolabelnecessary.com slash DC, we'll put the link in the description on YouTube. If you want your music considered, if you wanna see this exclusive event that we're only showing in a private space, never putting out this information publicly online, go ahead and grab it before they're sold out. Peace. And so the only way I could do that is I had to think past being urban, past being streetwear. And I was able to go into so many different categories from kids to luggage, to fragrances, footwear. Footwear. And so I sold the company and it wasn't the same without me. And so I got an opportunity to get it back. And so right now we are in development for the return of Sean John. And so I'm very, very proud of him. Did you know he was bringing Sean John back? I'm gonna be real. I didn't know it had really went away, if I'm being true. I didn't know he wasn't... You know he wasn't a part of it? Yeah, I didn't know that. Yeah, I know him and Jay-Z sold it as a part of time. I think Jay-Z might have gotten ownership back of his too or something might have changed. But it's interesting because it sounds like a Steve Jobs situation. Yeah. Yes, Apple things weren't the same. So I had to come back. Gotta come back, lost the visionary for the brand. That's crazy. I always thought he was just like a silent partner. I mean now it's making some things make sense, but I always thought he was just like a silent partner. He just wasn't the... Which doesn't make sense and I said I'll allow the face of it. He's really silent person. Yeah. On those types of brands, yeah. All right, let's see where he goes with this. So talk about the... I wanna just say like the Sean John journey was such a positive experience and it has been and it really broke down doors. So when you see Pharrell, head of Louis Vuitton or you see different cats, you see fear of God. These opportunities weren't there and to know that we played a part in creating that opportunity is truly a blessing. Talk about the process of selling your mind frame and then your mind frame and buying it back. A lot of black businesses get criticized when they sell. I don't think that it's always fair, but that's a different story. So what's your thought process in that? Very true statement. I wanna hear what did he say. And then what's your thought process in buying it back and was there hurdles and obstacles and actually able to purchasing it back? I mean, I bought it back cause I saw there was an opportunity. I saw that the operators weren't operating incorrectly. And so, I was like, let me get that back. I know what to do with that. And so, but as far as selling, we had for business, we had to sell things. Don't be in so personally invested to a point when you don't know when to get out. That's at another level. You have to know when to sell, when to get out, because we have to generate wealth. The only way you could generate wealth is by selling some of your assets when they are at the highest level of profitability. And so- This right here, this is the sauce. This is the difference between how people are thinking. And I know people might hate to hear this or don't understand it, but like one, he said, I'm in the business of selling. Everything is up for sale. And this is him talking about a brand that has his name in it. Come on now. So there's a level of personalization to it. All right, so I don't want to think, we're not talking about soap or something like that. And I know we believe, especially on the black side, you hear a lot of us speak about, well, what are you going to pass down to your kids and things like that. Business doesn't always work on a upward trajectory over generations. There's not that many businesses that have been owned for 120 years. All right, so you do have to in time, like sell some things when they're high to gather wealth. And I think that's the point, the part that people will miss. And I just noticed just from hanging around some wealthy people and like watching businesses build coming from when I was doing stuff in the tech space, which is the business is growing, is making a lot of revenue. You might have, let's just say a hundred million dollar business at this time. That doesn't mean, and you might own 30% of it. That doesn't mean you're bringing in $30 million a year. That's your ownership. What allows you to get there was paying yourself, oftentimes not as much money, your market rate based on your skill set at first. And then even when it gets to a certain point, you're probably, let's say you got a hundred million dollar business. I can't pinpoint it because everybody runs their business differently. But let's just say you're only paying yourself $500,000 a year, even though you owned 30% of it and it's a hundred million dollar business. And if you got investors and all these other people involved, you're not capturing that wealth. And the business could go down and all of a sudden be worth $20 million a couple of years from now. So for you to actually capture your wealth, which is what he's talking about, it's for you to take money off the table and sell some of it because you're still at risk. More than anybody else. So yeah, I can make money in perpetuity, but it might not make sense for me to keep paying myself more and more and more directly out of the business and become a huge overhead expense for the business. I need to focus on growing the business or selling parts of ownership, right? To be able to actually extrapolate that value that I've built over time. And if you would understand that, so now once I, let's say get $30 million from this deal, great, I got more freedom. I can make better investments, more investments and keep building another thing. Some of these businesses, yes, you can own for a longer period of time for sure. And you might wanna pass some businesses or some assets down to your children. And I think that might even be the difference when I hear some people talk, they're thinking less about building, passing down some businesses. They're passing down either assets or they might pass down a conglomerate, right? That owns other businesses, right? You get what I'm saying? So it's not like, oh yeah, this clothing brand or this YouTube channel, right? Or something like that. It's, oh, what? Sean John Enterprises. You're gonna run Sean John Enterprises Christian or I forgot to all name all his kids, right? Y'all are on that. And then this enterprise owns four, five, six, seven, eight, nine, 10 companies. All right? And once you take that money out what I've seen time and time again, even us on a smaller scale, but like more so what I hear the people I've got a chance to talk to is you take that money out, you have more time to think, you can make better decisions and you can build faster if you actually take time to like analyze what you did, how you got there and then pick a new move that can allow you to move faster than that last vehicle you invested in. Yeah, and I agree. I think especially with someone like him who is always looking at the next opportunity, there is an opportunity cost of to your point I could stay here and try to hold on and it could possibly decline or I could cash out why it's hot, take those earnings and just move on to the next thing that could be just as hot or hotter, you know what I'm saying? And when you're somewhere in a position like him it's not like those type of opportunities are hard to come by, you know what I'm saying? Like it's not that every idea isn't necessarily a home run, but they could go just as far over the fence as the last one possibly does, you know what I'm saying? Exactly. I can have all my wealth at risk in this one vehicle or I can pass it off to another man who built his business to be optimized for this and I can get rid of some of these problems that I put into the business as a first time entrepreneur. Let's just speak from that standpoint. If you're your first time around you build a certain level of business you might get there but there are so many problems and things you just don't yet know how to solve it pays off a lot of times to be able to say, all right let me step back, sell, get some smarter people or people who are built for this, go learn some other stuff in the marketplace and in Denny's case, he's coming back with all types of experiences, money and resources that Sean John. And so don't be afraid to build a company and sell it and buy another company and sell it. And so that was my thing. These companies that I have, you know, at the end of the day, they're businesses except for like, I would say Revolt. You know, so, you know, all of those businesses me as an entrepreneur, that's on my table. If I'm at 120 Fish Street, that's on my table right there. You know, Revolt, I'm like, no, I can't let y'all get that data, you know what I'm saying? So, yeah. That's interesting, that's that differentiation, right? Everything but the media company. Everything but the media company. And I like that he said, I can't let you get that data. Yeah, all right, yes. He's like, oh yeah, nah, this is different value than just exchanging the shirts and those assets. The data is something that allows me to make decisions off of decision. He could probably build four, five, six, seven, eight, nine businesses off of that alone. Yeah, especially something like Revolt, he's getting consumer data, he's getting lifestyle data, he's getting race data, you know what I'm saying? And I think it's, I don't remember where I heard it from, but I remember seeing something or reading something that says that most uber-billionaires control some type of a media company. They make sure they have a way to control getting messages out to people. That's a fact. You know what I'm saying? So, it's interesting to hear him say that he's like, you can have everything but my channel back to the people, because like to your point, as long as I control this channel to the people, I can build any and whatever I want to build. It's the media and the education. Because at some point that's like while Elon got into Twitter, all right? Some form of media, one is it helps you manipulate the messaging that can create the playing field, the environment that allows your business to thrive. Well, that's a new opportunity, an old opportunity. I can start setting the groundwork and messaging without people necessarily knowing, like that's the marketing stuff that's lit, all right? To then be able to sell something else. So yeah, now, media is extremely important for billionaires. Well, you know, it's extremely important. It's just marketing, right? That's why Gary Vee speaks of media and he leverages YouTube heavily as media but actually owning media platforms. I definitely have seen like quite a few breakdowns of how billionaires find value in media. And on their level as well, is how they navigate the regulatory environment as well. So you know, the people are the ones who come at the billionaires, all right? The people are the ones who might say you have a monopoly or whatever. And if you can keep people on your side, all right? You can use the media to make sure the messaging is friendly about you. You can use the media to make sure your narrative gets out unobstructed by other people. So media, especially at his level, and that's why you hear billionaires, it's like, well, I got all the money, I got all these connections, but people can still say whatever they want to about them. And I can't be mad about it, yeah. Yeah, so I need a way for my narrative to get out without being obstructed by other people's agendas. Let's see what else he got. Yeah, I would say at that point, you know what I'm saying, I was just trying to build my wealth and I had an opportunity with Sean John to build some wealth and I was able to sell it and God bless it to come back to me full circle so that, watch out for Sean John, y'all. See, he said I had an opportunity to build my wealth. I just want to bring that back to, again, I think it's easiest and clearest to think of as a first time entrepreneur, you build your business up, it has all this value, but your reality is, oh, I don't have this money for real, it's just on paper, but I can actually gain that value in real life and feel it if I sell a piece or all of my business and whether you do a piece or all of depends on the scenario or the people you're doing partnerships with the market value, all that stuff. So he had that and if you can understand that, then you can understand, well, all right, I'm doing this over and over again. Yes, I have $30 million, but maybe I'm trying to get to a hundred million or maybe I'm trying to get to a billion or whatever that looks like. So this is why people sell in a short version. I think we have a deeper video about that, but I like the fact that Diddy is saying this because Diddy is the prototype for how you monetize as a content creator to me, right? A brand ambassador, right? Cause that is what he's done over and over and over again. All right, oh, I'm a build, he's a content producer, media company, oh snap, Diddy used Bandboy as a media company, right? Even back then, that was his TikTok and I'm a pop up all these artists in the same way that you might have CNN with all this news shows and then commercials in between where you monetize and create awareness of products. You can have Cartoon Network with all these cartoons and then you advertise products to create awareness for them and then ultimately sell them. Diddy used his artist as TV shows and then got in the video, take that, take that. You know what I'm saying? All up in the video, dancing in the video to create awareness for himself. Smartly built his own brand to be able to sell Diddy. And then of course he then built things off the back of himself as well after he got that initial awareness from his artist. And now he's done that over and over again. I remember Gary talked about, he'll pop up on URL, is it TRL back in the day? Yeah, it's similar to 106 in Park. Just pop up. Why? Because he has the leverage. They want to see him. Oh, it's a moment, it's Diddy. But him understanding, hey, this is just free awareness for me. I can just pop up anytime and get that awareness. Like Diddy has been a king of this and figuring out how you draw a line between creating awareness and then monetizing that brand and leveraging over and over again. So we could probably do more and more videos on him but I like that this perspective as a start. Yeah, I agree. And I think just seeing how he thinks about identifying opportunities, right? Like there was opportunity for him to start it. There was opportunity for him to sell it. Years go by to your point. I have increased wealth resources. Now I see opportunity to where it's valuable in a different way again. So let me take it back. So it's, I think is the most interesting part about all this to me is the point he made about you can't be so personal attached to something that you miss when those decisions are smart to do and when they're not do right. Like to the point, to your point, it could have been he could have got my name on it. I ain't selling this shit. And who knows what resources and opportunities he would have lost over the years trying to hold onto it. And then even now- It's definitely not as high as it used to be. Exactly, right? He could have rode that wave and went down with the ship. You know what I'm saying? Cause that's what a lot of entrepreneurs would do. And I think even now, you know, it shows there's no ill will. Well, he's like, hey, like, I don't hate the business. It just didn't make sense. But now that I see opportunity with it again. Yeah, let me, let me get that back. You know what I'm saying? Let me, let me do something with it. So I think it's good for entrepreneurs to see that. Right? I think so many of us are taught to view our businesses as like our children. You know what I'm saying? Like our babies and you, you become so emotionally invested in it that you don't, you don't understand when it might make more sense for you to direct that energy somewhere else. Especially in the black community. Especially in the black community. Cause people feel such a lack of ownership that they over index on the idea of ownership and what it represents versus the utility as a business in life. And the same thing in an artist's conversation, such a lack of ownership, they over index on ownership as an idea versus the utility of it. But if you look at Elon Musk, right? He has SpaceX, Twitter now, well ex.com and then with Tesla, right? But before Tesla, he sold PayPal, which he was a part of. Before PayPal, there was another business that he had he sold a part of. And those all put him in positions to make bigger plays. And a lot of times you can only make these bigger plays. You have, of course the wealth, but that wealth has to be extracted. So you can make the play. You can't make the investment off of just the value in business, well, at a certain level, at a certain level. You can borrow against, but you want to have a way more wealth than that. So it was like, you want to have that leverage, but it's not just the leverage of the cash, it's the ability to then see opportunities and take times to analyze the marketplace of how you take that next big step too. Because while you're in the business, you're so busy working it, you really don't even have the time to split up between new and bigger opportunities as well. So yeah, man, it's dope to see this. And we'll love to do more clips like this. By the way, this is Earn Your Leisure, who hosted this interview. It was out there in Vest Vest. I think the clip, if y'all want to check it out, was around like 30 minutes into the interview where we started talking about it. And we might take some more clips from this as well and give our reaction. Y'all send in the other clips that y'all want to hear us talk about. DMs, no labels necessary. Yes, please no labels necessary. At no labels necessary on Instagram, that page, not your queries, first of all, my, this is one of our first creative currency clips. I'm Brian Mashion. I'm Corey. And we out. Peace.