We recently connected with Chad The Dad and have shared our conversation below.

Chad, thanks for joining us, excited to have you contributing your stories and insights. We’d love for you to start by sharing your thoughts about the pros and cons of family businesses

I think we all love the idea of starting a family dynasty but it’s much easier said than done. I have started multiple businesses with family and friends and I believe EGO and PRIDE stop a lot of families from being successful with one another.

But for those of us who are able to defeat those demons, and communicate effectively with our family members; I’m sure they would agree that running a successful family business can be one of the most rewarding experiences you can have!

I’m very passionate about this subject so ima write a couple more tips down I’ve learned through personal experience! From both failed businesses and successful ones.

-DON’T PARTNER, but instead organize your business as the single owner, and then hire your QUALIFIED family members and friends, to help you build, and allow your family members to hire your services when building their businesses as well. When everybody winning the dynasty is coming together!

-Understand that Just because they’re your family member doesn’t qualify them to be a business owner, and it’s not your job to promote them into that type of role. Let God do the promoting. You’ll know when their ready.

-Have tough conversations on the front end, it’s impossible to separate your personal and business relationship with your family. They’ve known you for years on end. There’s no switch in our brains that can make us forget what he/she did to you last summer when you walk into work. So talk it out. If you can’t talk out personal matters you definitely not ready to do business with family.

– PAY YOURSELF AND YOUR BUSINESS PARTNERS for the work they do in the business. No such thing as 50/50 split on workload. Have the conversation and look up the current market rates for the services your providing individually. If the business can’t afford to pay those rates. Discuss a percentage of the profits y’all are comfortable with until the business is making enough money to pay the full salaries.

-MANAGE THE MONEY PROPERLY. Business partnerships are like marriages. Financial literacy can make or break both! If you grew up in a community similar to mine, you went to schools where financial literacy isn’t taught. Unfortunately it wasn’t taught to the generations before us either. So we have to educate ourselves! There’s a book called Profit First by Mike Michalowicz. I highly recommend anyone thinking about operating a business, with a family member or solo, read and live by the principles he list in that book. That book has been a life saver for my business and relationships!

I just covered this topic on my podcast! (Game For Sale Podcast) Here’s a link to the summary video.

https://www.instagram.com/p/CdhB39Ypmmh/?igshid=YmMyMTA2M2Y=

Great, appreciate you sharing that with us. Before we ask you to share more of your insights, can you take a moment to introduce yourself and how you got to where you are today to our readers

My name is Chad Coleman Jr. and I help people monetize their passions and purpose. I believe God gave us all a unique calling, and I’ve learned with that we often have to push through opposing forces and Resistance to fulfill our duty.

It’s easier to push on with the help of friends and wise counsel, and I try to be there for anyone that’s looking for help. I create content (@oneblockshop) illustrating my story and life lessons so people can avoid the same mistakes I’ve already made!

I started my entrepreneurship journey at Jacksonville State University in 2012 We weren’t allowed to have jobs and play Football so I had a couple hustles.

I started with cutting hair, I chopped up most of the football team and fell in love with making money on my own time and terms.

That evolved into a starting a brand with my boy Omari. Our top selling shirt said “College Life” on the front and “Late Night Early Mornings” on the back. We started hosting events and parties to further push the brand!

Overtime I got fed up with screen printing companies taking advantage of me so I went to YouTube university to learn how to screen print my own shirts!

I invested in my first heat press and instantly doubled my profit margins! It wasn’t long before I started printing for other students on campus and had a full fledge screen printing service. One Block Print Shop.

I used my knowledge and experience as a brand owner to help many people start their bands while also providing the services required to scale and be successful.

Fast forward to today, I picked up a couple more skills for branding and marketing. Including website development, Media buying, videography, photography and content strategies, I adapted the do it yourself way of the life and learned how to do everything lol. You can find all of my services and my work at oneblockshop.org and book a call with me as well!

How did you put together the initial capital you needed to start your business?

I bought my first heat press with a refund check while at school! To this day it’s the best investment I’ve ever made! I turned that $2000 investment into consecutive 100k+ years. Where I was able to prove i could make money.

So after filing my taxes and proving my Income I qualified for a much larger SBA business loan last year. With that loan I bought my first building in Cartersville GA and it host 16 embroidery machines a bunch of film equipment and podcast set ups.

My advice to all up and comers, FILE YO D**M TAXES haha I’m sorry, but many people in my community avoid doing this thinking that they benefit from not reporting their income. Whether it’s to save money on child support or whatever other horrible reason we learned at the barbershop lol I was mislead too.

But thank God someone took the time out to educate me on the power of proving your income and the amount of benefits and money you get access too just for operating your business correctly.

Is there mission driving your creative journey?

I want to experience life knowing I’m doing what God called me to do. I want to experience the joys prosperity and abundance that comes with be properly aligned in your purpose. And naturally I want the same for those around me!

The world would be a better place if we were all living within our purpose. I’m going to do my part to not only lead by example. But also offer my services to those who need me.

Contact Info:

• Website: Oneblockshop.org oneblockprintshop.com
• Instagram: https://www.instagram.com/oneblockshop/
• Facebook: https://www.facebook.com/ChadColemanJr
• Other: Email me at [email protected]