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00:00To a young black entrepreneur who says, I want to be the next Bob Johnson, what advice would you give that person about how to build a business empire and be successful? I do this. I give this answer all the time. First and foremost thing, you've gotta believe in yourself. You gotta believe in yourself that you deserve the opportunity to be successful. And the second thing you gotta understand that nobody does anything alone. You've gotta find talented people that you can convince to go on that voyage with you or just share your vision and you gotta make sure they participate in your upside. You gotta give them a stake in the game to make you make them feel like you have their interests and the inches of their family close at heart. And if you do believe that and you work hard, they will work hard with you. And today, do you think for a young Bob Johnson is starting out once to build a company? It's easier for an African-American to get capital or. No, easier, honestly, than it was twenty five years ago. It's easier in the sense that there is a belief that there should be more diversity of opportunity. Whether it's diversity of opportunity is sponsored by the government or diversity of opportunity and a form of ESG that corporations, some of them give lip service to. So the theory is if you go and ask someone to be a partner who they are more inclined to give you a hearing. But the ability to get the right person in the right amount of capital is still very hard. My relationship with John Malone and we still have it today was extremely unique. I can't imagine that one out of a thousand black entrepreneurs kids today could find them a John Malone.

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Bob Johnson: ‘You've Got to Believe in Yourself’

Bob Johnson, BET founder and RLJ Companies chairman, talks about the advice he'd give young Black entrepreneurs who want to build a business. Johnson spoke on "The David Rubenstein Show: Peer-to-Peer Conversations" recorded Nov. 23 in Palm Beach, Florida. (Source: Bloomberg)

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