GlobalGrind’s Celebrity Financial Coach, Lynn Richardson, spent some powerful moments discussing business and money with the legendary MC Lyte and here is what she had to say:
GG: Lyte, you have been in the game a long time and you are obviously doing something right. Everywhere you look: music, concerts, leading the Los Angeles Grammy’s chapter, your new app, and the list goes on. What advice do you have for those who are trying to maintain their businesses so their money and their legacy can grow?
Lyte: Lynn, the first thing you have to do is have a dream for yourself. Nobody can stop you from dreaming, and I had a big dream. I knew I wanted to be on stage. My mother exposed me to the arts at a young age and I just knew one day I would be on stage. She had a friend who worked on Broadway, so we would go in and see “Dreamgirls” and other broadway productions. I took voice, art, and dance lessons and I paid attention to every detail. So the main thing people need to know is no one can stop you from dreaming. I didn’t like voice classes because singing was too technical, and I realized I was not born to sing like Chaka, Gladys, and Aretha. So I focused on the next best way for me to get on stage so I could take a stand for people who couldn’t stand for themselves. I believe if you want to make it in business, you have to have a mission that surpasses you. So I dreamt and focused on my mission and everything else fell into place. Once you have a dream, you have to get the skills to take you where you want to go. There were a few times I went on auditions and I was downright embarrassed because I was unequipped and unprepared. You can’t go in thinking people will give you something because you’re special! Even if you want a Ben & Jerry’s franchise, you have to learn Ben & Jerry’s system and get the skills Ben & Jerry want you to have. They’re not going to let you mess up their brand if you don’t know what you’re doing. The next thing you have to do is be focused on what you are out to do and not be distracted. I remember one time when I was 19 or 20 and I was too tired to do an interview with a reporter that I had cancelled on at least three times. See . . . you need to surround yourself with people with even bigger ideas than you who can help you implement your plan. My manager called me and said “Lyte, we have a plan and you’re not moving towards that plan . . . you’re moving away from it.” What I learned from that is that each step matters. When I am about to do something, I ask myself, “Is this bringing me closer to or further away from my dream?” And if I make a mistake that takes me two steps back, you better believe that I have a plan to take five steps forward.
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