Episode #1: Entrepreneurship Sucks. It's Also Great. | The Wealth Blueprint | Ep 1 w Matt Houston

The Wealth Blueprint Series

Matt Houston, a professor and entrepreneur, joins hosts D Johns and Phillip Washington Jr. on the Wealth Blueprint podcast to discuss the development of generational wealth in the Black community. They explore the importance of knowledge transfer and the role of traditional education in wealth creation. Matt shares his personal experiences growing up in a middle-class family and the impact of his father's entrepreneurial ventures. The conversation also delves into the challenges of balancing entrepreneurship and family life, as well as the potential for entrepreneurship to create opportunities for Black individuals. They also discuss a recent meeting with the Dallas Economic Development Corporation and the lack of understanding and support for the Black perspective in economic development initiatives. The hosts wrap up the episode with positive feedback and encourage listeners to follow them on social media.

Chapters

| Timestamp | Summary |

| ------------- | ----------- |

| 00:00:00 | Introduction to the collaborative series on wealth development |

| 00:01:00 | Phillip and Matt discuss their excitement for the show |

| 00:02:00 | Matt Houston introduces himself and his passions |

| 00:03:00 | Matt shares his family background and upbringing |

| 00:04:00 | Matt's father's influence on his mindset and philosophy |

| 00:05:00 | The importance of understanding economics and its role in society |

| 00:06:00 | Matt's origin story and his journey to becoming an entrepreneur |

| 00:07:00 | Matt's father's accomplishments and impact on the community |

| 00:08:00 | Matt's relationship with his father and the positive experiences |

| 00:09:00 | Phillip discusses generational wealth and its significance for Matt |

| 00:10:00 | Matt defines generational wealth and the transfer of knowledge |

| 00:14:00 | The impact of deliberate acts on transferring knowledge through generations |

| 00:20:00 | The influence of a conversation with Ross Perot, Jr. on creating a blueprint for success |

| 00:23:00 | The pressure of fatherhood intersecting with entrepreneurship |

| 00:25:00 | Challenges and benefits of being an entrepreneur |

| 00:27:00 | Building generational wealth and creating systems within the community |

| 00:31 | Importance of institutional knowledge for navigating spaces and benefiting the black economy |

| 00:32:38 | Break |

| 00:33:35 | Conversation about traditional education and its role in wealth development |

| 00:38:25 | SMU as an institution for intellectual development and collaboration |

| 00:39:35 | YouTube as a source of knowledge and level playing field |

| 00:47:00 | Entrepreneurship as a way to challenge and create new systems |

| 00:52:40 | Conversation about entrepreneurship and family sacrifices |

| 00:57:15 | Intra-prenuers 

| 01:00:00 | Wrap-up of the show with positive feedback |

Key Takeaways:

- Generational wealth is the transfer of knowledge through bloodlines to equip future generations for success.

- Traditional education plays a role in wealth development by providing a foundation for processing information and developing critical thinking skills.

- Entrepreneurship offers the potential for creating generational wealth and along with it comes the lesson of learning to deal with uncertainty

- Diverse perspectives are essential in decision-making processes to ensure comprehensive and effective solutions.

- Genuine efforts are needed to build systems that benefit the black community and address social issues.

Follow Phillip: @askphillip  

Follow Derek: @thedearsonpodcast 

Produced by The Dear Son, Network and WBMS Media

These conversations from the intersection of Family and Finance are long overdue. We hope that you enjoy this episode and the others that will be released weekly (Wednesday). 

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