Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Tim Mercer.
Author of Bootstrap Millionaire and CFO of Cadence Ventures, Inc.:
🎯 Purpose of the Interview
To inspire and educate aspiring entrepreneurs and professionals by sharing Tim Mercer’s journey from humble beginnings to financial success, emphasizing the importance of hard work, faith, planning, and leveraging government contracts and nontraditional financing.
🗝️ Key Takeaways
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Background & Journey
- Tim Mercer grew up in Mullins, South Carolina, in modest circumstances.
- His path to success began with military service, which broadened his worldview and led him to entrepreneurship.
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Bootstrap Millionaire Philosophy
- The term “bootstrap” symbolizes hard work, sacrifice, and perseverance.
- Mercer emphasizes that success doesn’t come overnight—it requires grinding, planning, and faith.
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Importance of a Business Plan
- A solid business plan is essential for securing funding and guiding business growth.
- Mercer shares real-life examples of people failing to secure support due to lack of planning.
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Cadence Ventures, Inc.
- A boutique private equity firm offering nontraditional financing for real estate investors.
- Focuses on investment properties and uses the property itself as collateral.
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Government Contracting
- Mercer began in government contracting in 2012 and credits it with helping him scale his business.
- He stresses that while it’s complex and paperwork-heavy, it’s a valuable opportunity for minority-owned businesses.
- Free resources like SAM.gov and Georgia Tech’s GT PAC can help entrepreneurs navigate the process.
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Success Requires Sacrifice
- Mercer highlights that every successful person has a story of struggle and sacrifice.
- His book’s first chapter, “See the Glory, Don’t Know the Story,” encapsulates this message.
💬 Notable Quotes
- “If you want to have the things tomorrow that other people won’t have, then you got to be willing to do the things today that other people won’t do.” — Tim Mercer quoting Les Brown
- “There’s no success without sacrifice.” — Tim Mercer
- “You can only make as much as the customer that you have.” — Tim Mercer on scaling through government contracts
- “See the glory, don’t know the story.” — Chapter title from Bootstrap Millionaire
#SHMS #STRAW #BEST
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