# Small Town Success Story: Oversees Rolling Stone, Dick Clark Productions, Robb Report, Variety and SXSW.

An episode of [Money Making Conversations Master Class](https://invisiblenetwork.ai/podcast/1264705641), 11 Oct 2024, 24 min.

Audio: https://podtrac.com/pts/redirect.mp3/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/b1db7263-d1a3-4d00-8976-af62012aab44/99446e35-f379-49b6-b676-b1fe0113f35a/audio.mp3?utm_source=Podcast&in_playlist=35a10561-3e1b-4d05-a529-af62012aab6a

Listen and subscribe to Money Making Conversations on iHeartRadio, Apple Podcasts, Spotify, www.moneymakingconversations.com/subscribe/ or wherever you listen to podcasts. New Money Making Conversations episodes drop daily. I want to alert you, so you don’t miss out on expert analysis and insider perspectives from my guests who provide tips that can help you uplift the community, improve your financial planning, motivation, or advice on how to be a successful entrepreneur. Keep winning! Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald, interviewed Paul Rainey. He holds a powerful executive role in the media world, shaping the future of iconic brands like Billboard, Rolling Stone, and SXSW. 🏆 Paul Rainey’s Executive Career at Penske Media Corporation (PMC) Current Role • Executive Vice President of Operations and Finance at Penske Media Corporation (PMC). • Oversees operations and financial strategy for Rolling Stone, Billboard, Variety, The Hollywood Reporter, Vibe, SXSW, and more. • Provides strategic input across PMC’s global media brands and live events, including the Billboard Music Awards, SXSW, and American Music Awards. Key Responsibilities • Leads financial decision-making, acquisitions, and operational procedures across PMC’s portfolio. • Serves on several boards, including as Audit Committee Chair of Redaptive, Inc. and a Director at SXSW. Background & Education • Holds a Master of Science in Accountancy and a BBA in Finance and Computer Applications from the University of Notre Dame. • Formerly held leadership roles at General Electric, Global Eagle, and Harris CapRock Communications, managing billion-dollar operations across five continents. 📘 About PMC & Cultural Influence PMC is a global media powerhouse, reaching over 350 million people monthly. Its brands shape culture through journalism, entertainment, and live events, including SXSW Paul Rainey is a rare blend of creative storyteller and corporate strategist, bridging the worlds of graphic novels and global media leadership. Whether he’s crafting a sci-fi twist in a comic or guiding the future of Billboard and SXSW, his influence is both wide-reaching and deeply personal. Let me know if you’d like a visual timeline of his career or a deeper dive into one of his roles. 🎬📈✨ #BEST #STRAW #SHMS Money Making Conversations Master Class with Rushion McDonald is America's premier entrepreneurship, business leadership, financial literacy, and wealth-building podcast featuring successful entrepreneurs, executives, founders, celebrities, and industry experts sharing actionable insights for professional and financial success. Business Podcast Entrepreneurship Small Business Business Growth Financial Literacy Wealth Building Black Entrepreneurs Minority Business Leadership Executive Leadership Business Funding Marketing Strategies Personal Development Startup Advice Sales Training CEO Interviews Founder Stories Professional Development Economic Empowerment Business Success Networking Brand Building Innovation How to start a business Small business funding Entrepreneur success stories Business leadership podcast Wealth building strategies Black entrepreneur podcast Minority business development Marketing for small businesses Business growth strategies Startup funding opportunities Executive leadership training Financial literacy education Success mindset podcast See omnystudio.com/listener for privacy information.

## Transcript

[0:05] Speaker 1: Welcome to the show. I am Rashan McDonald, the host
[0:08] Speaker 1: of Money Making Conversations Masterclass, where we encourage people to
[0:11] Speaker 1: stop reading other people's success stories and start planning their own.
[0:16] Speaker 1: Listen up as I interview entrepreneurs from around the country,
[0:19] Speaker 1: talk to celebrities and ask them how they are running
[0:22] Speaker 1: their companies, and speak with god profits who are making
[0:25] Speaker 1: a difference in their local communities. Now, sit back and
[0:28] Speaker 1: listen as we unlock the secrets to their success on
[0:32] Speaker 1: Money Making Conversations Masterclass. Hello, this is Rashan McDonald. Thank you,
[0:37] Speaker 1: thank you, thank you for joining us the fiftieth anniversary
[0:40] Speaker 1: twenty twenty four Fall Membership Benefits Drive. I'm hosting this out.
[0:45] Speaker 1: I'm also hosting Money Making Conversations Masterclass. I have two
[0:49] Speaker 1: fantastic guests that are joining me on the show today.
[0:52] Speaker 1: I am Rashan McDonald. I host the weekly Money Making
[0:55] Speaker 1: Conversation Masterclass show. The interviews and information that this show
[0:58] Speaker 1: provides offer everyone. It's time to start reading other people's
[1:02] Speaker 1: success stories and start living your own. I'm here to
[1:06] Speaker 1: help you reach your American dream. Just keep listening. If
[1:09] Speaker 1: you want to be a guest on my show, please
[1:11] Speaker 1: visit Moneymakingconversation dot Com and click the BS guest button
[1:15] Speaker 1: and fill out your information. It'll be emailed to me
[1:18] Speaker 1: and I consider you to be a guest on this show.
[1:21] Speaker 1: The guest I'm about to introduce you did not fill
[1:23] Speaker 1: out a BS guest form. I met him in Austin,
[1:27] Speaker 1: Texas at the south By Southwest event. Let me give
[1:30] Speaker 1: give you a little background on him. He serves as
[1:33] Speaker 1: the executive vice President of Operations and Finance for Penske
[1:37] Speaker 1: Media Corporation that's PMC. In this role, he oversees all
[1:42] Speaker 1: operations and financial decision makers affecting the various operating companies
[1:47] Speaker 1: across pmc's portfolio of award winning brands. Check out some
[1:53] Speaker 1: of the brands, y'all get closer to this Radio rolling Stone,
[1:59] Speaker 1: bill Board Variety, The Hollywood Reporter, Vibe, the Rob Report,
[2:05] Speaker 1: she S h E Media, Dick Clark Productions, Illuminate, Sporty Coal,
[2:11] Speaker 1: and south By Southwest. That's where I met him. Please
[2:14] Speaker 1: welcome to the Money Making Conversation Masterclass. Paul Raining.
[2:17] Speaker 2: How you know, Paul, I'm doing very well. Thanks so
[2:21] Speaker 2: much for having me on the show.
[2:22] Speaker 1: I didn't set you up too big, did that?
[2:24] Speaker 2: Paul, No, no, I appreciate, you know, giving up flowers
[2:27] Speaker 2: while I'm still living. Well.
[2:29] Speaker 1: You know, here's the great thing about it, Paul, you
[2:32] Speaker 1: got more to do, you know. And but we're gonna
[2:36] Speaker 1: talk about this journey. When I say things like that,
[2:38] Speaker 1: and you're an African American man, does it? Does there's
[2:43] Speaker 1: a journey to get there? Can you give us your
[2:45] Speaker 1: academic background and how how you got this all started
[2:50] Speaker 1: to get to this point. I know this is going
[2:52] Speaker 1: to be steps, but I want to get to the
[2:54] Speaker 1: opening south of your academic training.
[2:57] Speaker 2: Yeah, you know, I would say my first training was
[3:00] Speaker 2: at home, thank you, from a large family and a
[3:03] Speaker 2: rural part of Arkansas, Cleveland, Arkansas, with fifteen brothers and sisters.
[3:07] Speaker 2: And know, my dad had his own logging company, So
[3:10] Speaker 2: starting out at a very early age really learning how
[3:13] Speaker 2: to treat other people, treat clients, and just really learn
[3:15] Speaker 2: about business from that perspective at home from him and
[3:18] Speaker 2: my mom. But then I did go into the University
[3:20] Speaker 2: of Notre Dame and received a bachelor's in finance and
[3:24] Speaker 2: computer applications and then got a master's in accounting at
[3:27] Speaker 2: the University of Notre Dame as well.
[3:29] Speaker 1: Now let's talk about to your father. That's entrepreneurship, right,
[3:32] Speaker 1: a business, small business owner in Arkansas.
[3:35] Speaker 2: Yeah, absolutely, entrepreneurship. You know, he did a lot of
[3:38] Speaker 2: different things, whether it was early in his life. You know,
[3:40] Speaker 2: he's talking about the nineteen forties fifties, helping people get
[3:44] Speaker 2: out to the workplaces, whether that's a sawmill or out
[3:47] Speaker 2: into the fields. And then he dis continued that journey
[3:50] Speaker 2: on to tarten his own logging company for over twenty
[3:52] Speaker 2: five years.
[3:53] Speaker 1: That's that's really amazing. I always hear these stories about,
[3:56] Speaker 1: you know, black men because we know Arkansas rule and
[4:00] Speaker 1: I'm from the south eastern Texas, so I understand racism.
[4:03] Speaker 1: I understand areas of the country that treat black people
[4:07] Speaker 1: a little bit different and certain situations, especially when they
[4:11] Speaker 1: don't consider us deep to be equal. And he was
[4:14] Speaker 1: being successful on entrepreneur in an time period in a
[4:19] Speaker 1: area of country that one would say, wow, how was
[4:22] Speaker 1: he able to pull that off? Paul? If you can
[4:23] Speaker 1: share that information with.
[4:25] Speaker 2: My audience, you know what I say. One, you know,
[4:28] Speaker 2: he had courage, you know, the courage to be the
[4:31] Speaker 2: first man to go into the bank and ask for
[4:33] Speaker 2: a loan.
[4:34] Speaker 3: You know, the.
[4:34] Speaker 2: Courage to step up in his community and try to
[4:38] Speaker 2: offer a service when when no one else was providing
[4:42] Speaker 2: that services in our community or outside of community, making
[4:44] Speaker 2: sure people could get to the workplace. So I would say,
[4:47] Speaker 2: just the courage and then leaning in on the community
[4:51] Speaker 2: and being a part of the community. And I think
[4:53] Speaker 2: the community leaned into him. And I think that especially
[4:57] Speaker 2: in that time, the courts of his own own family,
[5:00] Speaker 2: his own community and then having the courage to step
[5:03] Speaker 2: out there when no one else was really helped us
[5:06] Speaker 2: do that early on in his life.
[5:07] Speaker 1: Now, I'll tell you something that Paul, I come from
[5:09] Speaker 1: a big family. Now I'm not I'm not tapping into
[5:11] Speaker 1: your size now, six sisters, two brothers now, And I
[5:14] Speaker 1: always tell people that, you know, usually from an income standpoint,
[5:18] Speaker 1: a little bit up the food change mind. My parents
[5:22] Speaker 1: were my father was a truck driver. Mamble was stay
[5:25] Speaker 1: at home mom, and but it was it was something
[5:28] Speaker 1: about growing around a lot of kids that that that
[5:31] Speaker 1: creates a certain bond I had. Like I said, I
[5:33] Speaker 1: had six sisters and two brothers. What was the dynamics
[5:36] Speaker 1: of growing up in a family their size and what
[5:38] Speaker 1: did you line up in that number of fifteen kids
[5:41] Speaker 1: their Paul.
[5:42] Speaker 2: Yeah, I'm towards the end there.
[5:45] Speaker 1: So you had the better clothes.
[5:46] Speaker 2: You had the better clothes, well a little bit better.
[5:50] Speaker 2: That didn't hnd me down for quite a while, man.
[5:53] Speaker 2: And then it was only a few of us at home.
[5:55] Speaker 2: But no, it was a privilege to have. You know, really,
[5:58] Speaker 2: I consider like so many and dads growing up from
[6:01] Speaker 2: my older siblings who just really looked after me and
[6:04] Speaker 2: helped raise me and really poured into me at an
[6:06] Speaker 2: early age. But you're right, just that the community is
[6:09] Speaker 2: sticking together and helping each other be our best.
[6:13] Speaker 1: Uh.
[6:13] Speaker 2: But you know it was as you can imagine. We
[6:16] Speaker 2: we had our fun. It was very competitive as well,
[6:18] Speaker 2: whether it's for classroom and again that also propelled us
[6:22] Speaker 2: to be better as well, just pushing each other. Uh,
[6:24] Speaker 2: you know, it's fun. We still get together at large
[6:27] Speaker 2: holidays and scenes of that. It was just a fun
[6:30] Speaker 2: time to be together.
[6:31] Speaker 1: Put the where you all your family is a family reunion,
[6:33] Speaker 1: you know. You you know, you have to gather rowed
[6:35] Speaker 1: by a lot of people, A lot of people just
[6:37] Speaker 1: show up with your family, show up.
[6:39] Speaker 2: You know what I'm saying, Paul, No, that's what I
[6:41] Speaker 2: tell people usually is a family reunion fourth of July.
[6:44] Speaker 2: Once you and all the in laws and nieces and
[6:46] Speaker 2: nephews to get to a large number of pretty fast,
[6:49] Speaker 2: well let me.
[6:49] Speaker 1: Let let's talk about you know before, like I said
[6:51] Speaker 1: talking to Paul, you know, uh, you know, financial decision
[6:55] Speaker 1: maker for a lot of great brands at PMC. I
[6:57] Speaker 1: said them earlier, but I still they're still worth mentioning
[7:00] Speaker 1: brands like Rolling Stone, Billboard, Variety, The Hollywood Reporter, Vibe,
[7:06] Speaker 1: rob Report, Sheet Media, Dick Clark Productions, illuminate Sportic and
[7:11] Speaker 1: south By Southwest, which is incredibly That's where I met
[7:16] Speaker 1: you at Tell everybody about what exactly is south By Southwest, Paul.
[7:21] Speaker 2: You know, south By Southwest is probably one of the
[7:24] Speaker 2: largest events in the world where you bring technology, music, film,
[7:28] Speaker 2: and education and culture in a lot of ways together,
[7:31] Speaker 2: where you have a diverse people and diverse thought and
[7:35] Speaker 2: just people with different experiences come together and you have
[7:38] Speaker 2: this unexpected discovery that happened though it started off thirty
[7:41] Speaker 2: five years ago where when people would leave Austin, Texas,
[7:45] Speaker 2: you know, the college town University of Texas, and all
[7:48] Speaker 2: the bars would be empty, and so they started bringing
[7:50] Speaker 2: in music bands just to entertain people and fill up
[7:54] Speaker 2: the community that was empty at the time. And then
[7:56] Speaker 2: that started morphing into bringing in no film and that
[8:00] Speaker 2: started the film Festival, and then we started bringing in
[8:03] Speaker 2: more and more speakers to really help in education and
[8:06] Speaker 2: other side where there's technology. You know, some of the
[8:09] Speaker 2: biggest technology firms that are out there, they were kind
[8:12] Speaker 2: of had that founding and start there. So it has
[8:15] Speaker 2: really grown organically as the Austin community has grown. And
[8:19] Speaker 2: that's the place where now we go and over you know,
[8:22] Speaker 2: hundreds of thousands of people are interacting there with all
[8:25] Speaker 2: the events with you know, eleven days of music, uh,
[8:29] Speaker 2: thousands of bands, film festivals and world premieres that are
[8:32] Speaker 2: happening there. And again still some of the greatest political
[8:35] Speaker 2: uh speakers and leaders of our time will come there
[8:38] Speaker 2: and grace the stage.
[8:40] Speaker 1: Yeah, it's an amazing event, ladies and gentlemen. Uh. You know,
[8:44] Speaker 1: it's interesting when Paul describes it because it's it doesn't
[8:47] Speaker 1: sound no, he's a good story telling bum Me tell
[8:49] Speaker 1: you'll something huge he put toward huge. Tis. In fact,
[8:53] Speaker 1: seven a Smith broadcast his show their Live and it
[8:57] Speaker 1: was part of the Softwest by Softwest event as well.
[9:00] Speaker 1: As other premier movies. You know, you've heard a lot
[9:03] Speaker 1: of great events Sundance. It's kind of like a combination
[9:07] Speaker 1: of a Sundance film festival, a comic con, and then
[9:12] Speaker 1: you have the Then you're in the heart of the Austin,
[9:15] Speaker 1: Texas with the capital of the state of Texas. You
[9:18] Speaker 1: have of mega sized, massive University of Texas footprint right there,
[9:24] Speaker 1: so it's just a collective. Then it just has great food.
[9:26] Speaker 1: It's a city field with great food, and you throw
[9:29] Speaker 1: all that combination and all that culture and you really, really, Paul,
[9:33] Speaker 1: have a true diverse environment, and I think that's what
[9:36] Speaker 1: makes it special.
[9:37] Speaker 2: Correct, No, absolutely, just bringing in that diversity of people
[9:42] Speaker 2: from industry and experiences where you never know who you're
[9:44] Speaker 2: going to bump into, whether it's the CEO of a
[9:47] Speaker 2: major studio or the CEO of a technology company and
[9:51] Speaker 2: someone who just starting up their own business and just
[9:53] Speaker 2: have these relationships they're able to form just from these
[9:57] Speaker 2: superndicinous interactions.
[10:00] Speaker 1: You know, as we talk about this similar backgrounds in
[10:04] Speaker 1: the sense that you know, I come from a community,
[10:07] Speaker 1: a large family African American, and then I went to
[10:11] Speaker 1: a predominantly white school and my school was University of Houston,
[10:15] Speaker 1: And I'm not saying it was a culture shock, but
[10:17] Speaker 1: I do know that my entire life up to that
[10:20] Speaker 1: point was basically black. My entire life, but I knew
[10:25] Speaker 1: that in order for me to succeed, I had to
[10:28] Speaker 1: have a good understanding of how the world worked and
[10:32] Speaker 1: how people communicated. Talk about your transition from your environment,
[10:36] Speaker 1: not saying that you came from an all black environment
[10:38] Speaker 1: like I did, but you did come from an environment
[10:40] Speaker 1: where your parents were successful, a large black family, but
[10:44] Speaker 1: also from a rural community to Notre Dame, which we
[10:48] Speaker 1: know is one of the elite universities in this country
[10:52] Speaker 1: Florid George pot Yeah.
[10:54] Speaker 2: I would say certainly a very rural American centric upbringing.
[10:59] Speaker 2: For the first aid eighteen years of my life. My
[11:01] Speaker 2: eyes were opened a little bit as I went to
[11:03] Speaker 2: the University of Notre Dame, which, as you can imagine,
[11:05] Speaker 2: a national campus people from all over the country. And
[11:09] Speaker 2: you're right, was a small a minority in this large
[11:13] Speaker 2: sea of majority, and it really helps you hone your
[11:17] Speaker 2: voice of who you are in that environment. But I
[11:20] Speaker 2: would say my largest learning is when I first left
[11:22] Speaker 2: the University of Notre Dame and started working with General Electric.
[11:25] Speaker 2: I went through about four years of training programs with
[11:28] Speaker 2: the General Electric Company and worked in five of the
[11:31] Speaker 2: seven continents around the world. So that experience where I
[11:34] Speaker 2: think I became a whole lot less American centric, really
[11:39] Speaker 2: got goose to the global perspective now as a black person,
[11:44] Speaker 2: not just a black American experience, which is so similar
[11:47] Speaker 2: to blacks and people of African descent all over the world.
[11:52] Speaker 2: And seeing that perspective, that's when it really began to
[11:55] Speaker 2: open up my eyes of just kind of the plight
[11:57] Speaker 2: of our community locally and globally and the power of
[12:00] Speaker 2: our community.
[12:01] Speaker 1: We'll be right back with more Money Making Conversation Master Class.
[12:04] Speaker 1: My guess, Paul Rainey, he's the executive vice president, not
[12:08] Speaker 1: gonna mess up his titles Executive vice President of Operation
[12:11] Speaker 1: and Finance for Penske Media Corporation. Be right back.
[12:15] Speaker 3: Please don't go anywhere. We'll be right back with more
[12:18] Speaker 3: Money Making Conversations Masterclass. Welcome back to the Money Making
[12:29] Speaker 3: Conversations Masterclass, hosted by Rashaan McDonald. Money Making Conversations Masterclass
[12:34] Speaker 3: continues online at Moneymakingconversations dot com and follow money Making
[12:39] Speaker 3: Conversations Masterclass on Facebook. Twitter and Instagram.
[12:43] Speaker 1: My guess is Paul Rainey. He is the executive vice
[12:46] Speaker 1: president of Operations and Finance for Penskey Media Corporation. Paul,
[12:51] Speaker 1: excuse me, Paul. When you talk about success, you talk
[12:54] Speaker 1: about the individual who's risen to the level of where
[12:58] Speaker 1: you at. You know, we came from humbles even though
[13:00] Speaker 1: your father was an entrepreneur, and fifteen siblings went to
[13:06] Speaker 1: from a rural community to a massive, popular university called
[13:10] Speaker 1: the University of not your dame there. And now you
[13:15] Speaker 1: talk about navigating in today's environment, that work balance, that
[13:19] Speaker 1: work life balance, because you have a lot of things
[13:22] Speaker 1: that you have to deal with and a lot of
[13:23] Speaker 1: brands that are like got the word A in the
[13:26] Speaker 1: let up in the plus next room A plus brands?
[13:29] Speaker 1: How do you handle that work life balance?
[13:34] Speaker 2: You know, for me is something that's always a challenge
[13:37] Speaker 2: to get the prioritization right. But you know I handled
[13:40] Speaker 2: me personally the same way. When people asking me for
[13:42] Speaker 2: professional advice, I tell them like, I won't give you
[13:45] Speaker 2: any professional advice until you tell me what your personal
[13:48] Speaker 2: goals are, because I can give you a professional advice
[13:51] Speaker 2: that will wreck your personal life and you might be
[13:53] Speaker 2: the CEO of a company. But you know your kids
[13:56] Speaker 2: don't like your spouse is going away. So I try
[13:59] Speaker 2: to live by the same model myself, just really keeping
[14:02] Speaker 2: at the forefront of my mind. What are my personal goals,
[14:05] Speaker 2: My relationship with my wife of twenty one years here
[14:09] Speaker 2: on Friday, you know, my relationship with my three teenage children,
[14:13] Speaker 2: and know in my family, my sending family that I
[14:15] Speaker 2: still want to have meaningful relationship with and friends. So
[14:18] Speaker 2: for me, it is sometimes we'll see imbalance when I'm
[14:21] Speaker 2: on the road for ten days or days at a time,
[14:25] Speaker 2: but it's something that I that I keep in mind.
[14:28] Speaker 2: You know, the prioritization of those relationships are the ones
[14:32] Speaker 2: that are most important to me, and I have to
[14:34] Speaker 2: make sure that I'm investing the time and energy in
[14:37] Speaker 2: those relationships if I want them to continue to thrive.
[14:40] Speaker 1: No, you said your kids with ten you can I
[14:42] Speaker 1: ask how old they are? You say that teens?
[14:45] Speaker 2: Uh yeah, seventeen, fifteen and twelve, almost thirteen or soon.
[14:49] Speaker 1: You know, we all know about internship, being able to
[14:53] Speaker 1: have a door open. That's how I got into a
[14:55] Speaker 1: lot of opportunities. Do you see do you are your
[14:59] Speaker 1: kids interesting in the area of success? That you are
[15:02] Speaker 1: achieving because you've got so many options here. You know,
[15:05] Speaker 1: popular magazines, you have production companies, you know, you have
[15:09] Speaker 1: live live event and activations. There's so many options. Have
[15:13] Speaker 1: you kids even do they have a clear understanding what
[15:15] Speaker 1: their father is doing to consider their available options that
[15:19] Speaker 1: you can probably you know, get you know, guide them
[15:22] Speaker 1: into possible career opportunities.
[15:25] Speaker 2: You know, no, absolutely, I exposed them to some of
[15:28] Speaker 2: the events. I will take my kids with you on
[15:30] Speaker 2: their tent and they kind of give them a sense
[15:32] Speaker 2: of what I do at my job and what my
[15:34] Speaker 2: brand do the brands do. But also I feel a
[15:38] Speaker 2: service and advisor and a consultant and on whether it's
[15:40] Speaker 2: on board of directors or things of that nature of companies,
[15:43] Speaker 2: and I share and even helping my own son who
[15:47] Speaker 2: is starting his own entrepreneurial endeavors and encouraging that and
[15:51] Speaker 2: giving him an investment in a company that he wants
[15:54] Speaker 2: to do. Maybe it starts off small, but even when
[15:56] Speaker 2: I do that, I say, hey, listen, you can get
[15:59] Speaker 2: these fine answers in several different ways. You know, this
[16:02] Speaker 2: is how much you can do if you went and
[16:04] Speaker 2: bought it from a credit card. This is how much
[16:06] Speaker 2: you do it if you went and bought it from
[16:07] Speaker 2: a bank, you know, if you get it for me,
[16:09] Speaker 2: that's called venture capital. I am investing in you in
[16:13] Speaker 2: that rate is typically going to be this much of
[16:15] Speaker 2: a return. And so now I might believe in you
[16:18] Speaker 2: more than a credit card company or a bank. But
[16:21] Speaker 2: start to sow those seeds of how business works, how
[16:24] Speaker 2: the world works, so when they see it later in life,
[16:27] Speaker 2: it's not foreign to them and they know how to
[16:29] Speaker 2: navigate those risk and opportunities.
[16:32] Speaker 1: Wow, you do you smile when you're talking to it, because,
[16:35] Speaker 1: like you said, my daughter, when she talks to me
[16:38] Speaker 1: about business or talks about career, I always lighten up
[16:41] Speaker 1: a little bit. What are your thoughts when your kids
[16:43] Speaker 1: come to you and you realize that you know, your
[16:46] Speaker 1: father laid the season to you because you were He
[16:49] Speaker 1: was an entrepreneur, so you saw it. You saw what
[16:52] Speaker 1: hard work can do. You saw how a black man,
[16:56] Speaker 1: despite the odds, despite people telling them what they can't do,
[16:59] Speaker 1: what can be achieved because you're doing it right now,
[17:02] Speaker 1: you're doing incredible things. And their dad is their dad?
[17:06] Speaker 1: Talk to us about that?
[17:08] Speaker 2: Yeah, you know, I want to instill in them that
[17:10] Speaker 2: you know that everybody is an independent you know, contractor
[17:14] Speaker 2: if you will. It's I view myself like and you
[17:16] Speaker 2: have to be entrepreneur. Whether you're working at a company
[17:19] Speaker 2: forty hours a week, what are the other things that
[17:21] Speaker 2: you're doing so that you're not putting all your eggs
[17:23] Speaker 2: in one basket with that company. And we all have
[17:26] Speaker 2: this creative innovation inside of us. So you know, as
[17:30] Speaker 2: a father, I want to continue to instill in them
[17:33] Speaker 2: the gifts and my kids have very different gifts, So
[17:36] Speaker 2: me looking into their life and encouraging the ways that
[17:39] Speaker 2: they are, the strengths that they do have, and where
[17:41] Speaker 2: they have more creativity in one era of another, so
[17:44] Speaker 2: that they don't lose sight of that, because the world
[17:47] Speaker 2: has a way of trying to take you down conson
[17:49] Speaker 2: and you have to believe in yourself and so I
[17:51] Speaker 2: want them to be able to identify those strengths and
[17:54] Speaker 2: lean into those strengths and always have different things that
[17:58] Speaker 2: they know they can go do regardless of what a
[18:01] Speaker 2: company or a studio or a label comes back and
[18:04] Speaker 2: tells them. They can have their own and a drive
[18:07] Speaker 2: to go and achieve the goals that they want to have.
[18:09] Speaker 2: So that is very important to do that as a
[18:11] Speaker 2: parent as well, and to be that mentor.
[18:14] Speaker 1: I'm telling you that that's incredible. I get that my daughter,
[18:17] Speaker 1: she works for my wife and our company, and I
[18:20] Speaker 1: convinced her to come work for us, and she tells
[18:24] Speaker 1: me every day this is the greatest move that she's
[18:26] Speaker 1: done in her young life with to come under and
[18:28] Speaker 1: be mentored by me. And that's interesting because that's what
[18:32] Speaker 1: I've been doing all my life, is mentoring. I want
[18:35] Speaker 1: to use the word stranger of the people that didn't
[18:36] Speaker 1: know and by giving them advice and by this is
[18:40] Speaker 1: a show about mentorship. And when I when I crack
[18:42] Speaker 1: the mic every Tuesday, every time I podcast adds, anytime
[18:46] Speaker 1: my voice is heard on an HBCU campus, hopefully I'm
[18:49] Speaker 1: providing mentorship. But here's the thing you hear a lot, Paul,
[18:53] Speaker 1: the word passion. People always talk about passion. Follow your passion,
[18:57] Speaker 1: how to can one pursue passion? And I'm sure what
[18:59] Speaker 1: you doing is pursuing your passion and pay bills.
[19:03] Speaker 2: Yeah, you know you have to balance it out because
[19:07] Speaker 2: you do have to pay the bills now, but also
[19:12] Speaker 2: thinking about ways that you can lean in the things
[19:14] Speaker 2: that you're creatively good at and how you can. That's
[19:17] Speaker 2: usually what you're gonna love to do, and you're gonna
[19:19] Speaker 2: work harder at those things. And the things that I
[19:22] Speaker 2: like to tell people early in your career, try to
[19:25] Speaker 2: expose yourself to many different things. You'll see things that
[19:27] Speaker 2: you like, and you see things that you don't like,
[19:30] Speaker 2: but you also may find an avenue the things that
[19:33] Speaker 2: you're passionate about that can connect in the job market
[19:37] Speaker 2: in a way that you weren't even aware of, but
[19:39] Speaker 2: just because you have that exposure to that experience early
[19:42] Speaker 2: on in your career. But it is one where you
[19:44] Speaker 2: have to really balance that and it takes a long time.
[19:48] Speaker 2: You have to continue to invest in yourself and those
[19:51] Speaker 2: pass that you have, because you know, if you don't
[19:55] Speaker 2: take control of your own career, no one will care
[19:57] Speaker 2: about your career more than you, and so you have
[20:01] Speaker 2: to be in the driver's seat of that. And that
[20:03] Speaker 2: includes all of the different various passions that you have
[20:05] Speaker 2: about how you want to achieve that as well. But
[20:08] Speaker 2: I do think it's just be patient with yourself, give
[20:10] Speaker 2: yourself time, make those small investments over time so you
[20:14] Speaker 2: can continue to build up the momentum and then you'll
[20:17] Speaker 2: be surprised when you look down the road with that
[20:20] Speaker 2: intentionality of how your passions begin to align with what
[20:24] Speaker 2: you're doing in your everyday job as well.
[20:26] Speaker 1: I'm gonna tell y'all something. You've heard the word the man.
[20:29] Speaker 1: You know, you say he is the man, she is
[20:32] Speaker 1: the one. You know, I am talking to the man.
[20:36] Speaker 1: You can actually give the man title to Paul Rady
[20:38] Speaker 1: when you're saying he overseeing brands, operations and finances for
[20:45] Speaker 1: Rolling Stone, Billboard, Variety, The Hollywood Reporter, Five, Rob Report,
[20:50] Speaker 1: Sporty Code, Dick Clark Production, She Media, which is She?
[20:55] Speaker 1: And then the incredible multi day event south By Southwest.
[21:00] Speaker 1: As we close out this interview, Paul Wealth Building give
[21:05] Speaker 1: our audience some advice on generating keys and keys to
[21:09] Speaker 1: investing not only in yourself but also hopefully in some
[21:12] Speaker 1: financial options. Not trying to tell them what stock to pick,
[21:15] Speaker 1: but that the terms of how one does it over
[21:17] Speaker 1: a long period of time.
[21:20] Speaker 2: Yeah, I think the point you said at the end
[21:22] Speaker 2: is most important over a long period of time, and
[21:26] Speaker 2: so it really starts off with that dynamic of budgeting
[21:29] Speaker 2: and just really having the self control to spend less
[21:32] Speaker 2: than you make and do that over a long period
[21:34] Speaker 2: of time and then you invest and you invest in
[21:37] Speaker 2: a diversity of things very early, and I would say
[21:40] Speaker 2: as you begin to build up those multiple revenue streams
[21:44] Speaker 2: of the call of people call it passive income. But
[21:47] Speaker 2: just think about those ways that again that you can
[21:50] Speaker 2: continue to lean into your passions, lean in the things
[21:53] Speaker 2: that your strengths that you have, so that maybe it
[21:56] Speaker 2: is you may own run on property, maybe it is
[21:58] Speaker 2: that you're investing in that get back divotings and things
[22:01] Speaker 2: of that nature, but you're allowing yourself on opportunity to
[22:04] Speaker 2: have multiple things that can provide income for you. You know,
[22:09] Speaker 2: a lot of people have a lot of work experience
[22:11] Speaker 2: and expertise and they undervalue it because they can be
[22:14] Speaker 2: doing advising services to other people that can come along
[22:18] Speaker 2: and help them along the way. And it always doesn't
[22:20] Speaker 2: have to be cash in return. Like I advise some
[22:23] Speaker 2: companies today and I'll say, hey, listen, give me a
[22:27] Speaker 2: stake in the company and I will help you grow
[22:29] Speaker 2: your company a longer time. But when you do that
[22:33] Speaker 2: small stole in those seats earlier on, you know the
[22:36] Speaker 2: payback will be greater because you let them grow in.
[22:39] Speaker 2: As that company grows, you look up and now you
[22:41] Speaker 2: own equity in an entity. And so those are the
[22:45] Speaker 2: things that I would say is number one. You know
[22:48] Speaker 2: that however you want to budget, but just spend less
[22:51] Speaker 2: than you make. That's how you create wealth over time,
[22:54] Speaker 2: investing over a long period of time. It doesn't happen overnight,
[22:58] Speaker 2: and just making sure you have a diverse to the
[23:00] Speaker 2: things that you're working with and you'll be surprised at
[23:03] Speaker 2: how that momentum and the compound and interest in returns
[23:06] Speaker 2: will grow over time.
[23:07] Speaker 1: My man, Paul Rainey brother, I know you're busy, and
[23:13] Speaker 1: in fact, you took time to talk to my audience
[23:15] Speaker 1: Money Making Conservations master Class. That's my show, the show
[23:18] Speaker 1: I mentor people who call in, people who stop me
[23:21] Speaker 1: and say thank you, I say thank you, thank you
[23:24] Speaker 1: for taking time to come on my show and give
[23:26] Speaker 1: worldly advice, international advice, advice that as an African American man,
[23:31] Speaker 1: you out there making a difference and raising a family
[23:33] Speaker 1: where you're mentoring kids to make a difference in our future.
[23:36] Speaker 1: Thank you for coming on Money Making Conversation Masterclass. Paul.
[23:39] Speaker 2: Now, thank you so much for the opportunity

Shows are listed from Apple Podcasts' charts and directory, and Podcast Index where it is used. Every show and episode belongs to its publisher and plays from the publisher's own feed; this site hosts none of them.