Life Experiences and Reflections:
Robert F. Smith emphasizes the importance of money and possessions in the Bible, with 3,250 verses dedicated to the topic. He shares his journey from a humble upbringing in Colorado, where he witnessed disparities despite his parents’ high level of education. Smith’s childhood experiences motivated him to seek economic opportunity and become a business owner. He started his first business at a young age, selling golf balls and cutting grass to avoid wearing hand-me-downs.

Key Insights:
Education alone is not enough for African-Americans to achieve economic success in America. Access to the economy, through business ownership or other means, is crucial for upward mobility. Reading and learning from various sources, including popular novels like James Bond, can inspire and shape one’s aspirations. Overcoming obstacles and achieving success requires a strong community, a supportive family, and a willingness to seize opportunities.

Community and Support:
Smith emphasizes the importance of community strength and support in helping individuals understand their identity and achieve their goals. He highlights the role of elders in demanding on-ramps to opportunity and the responsibility of youth to take advantage of those opportunities. The presence of a strong community can help individuals navigate challenges and create a path toward success.

Questions and Engagement:
Smith expresses his desire to answer questions and engage in a dialogue with the audience, believing that this interaction can provide valuable insights for their personal journeys. He encourages the youth to frame their questions in a way that leads them to the places they want to go. Smith’s willingness to share his experiences and answer questions demonstrates his commitment to fostering dialogue and supporting the community’s growth.

Early Inspirations:
Robert F. Smith was fascinated by science fiction movies and the technologies they depicted, motivating him to pursue a career in science and technology.

Summer Internship at Bell Labs:
Smith’s relentless persistence in calling the human resources director at Bell Labs for five months secured him a summer internship despite not meeting the eligibility criteria.

Exposure to Cutting-Edge Technology:
During his internship at Bell Labs, Smith gained exposure to cutting-edge technologies, including the first mobile and video phones, which inspired him to explore the potential of these advancements.

Intelligence and Profit Creation:
Smith recognized the immense profit-generating potential of intelligence and innovation, realizing that by contributing to technological advancements, he could make a significant impact on the economy.

Uploading vs. Downloading:
Smith distinguishes between “uploading” and “downloading” in the context of the economy, emphasizing that creating value and generating profits (uploading) is more advantageous than consuming goods and services (downloading).

The Power of Intelligence:
Smith’s experiences at Bell Labs cemented his belief that intelligence and creativity can lead to substantial financial rewards and societal impact.

Intellectual Property:
Intellectual property is valuable and cannot be taken away. It requires no capital to develop and can constantly evolve.

Dad’s Rules:
Rule 1: You are Enough: Belief in oneself is essential for success. Action is necessary to support intentions and achieve goals. Rule 2: Discover the Joy of Figuring Things Out: Value the process of understanding and solving problems. Develop grit and perseverance to overcome challenges. Learn from failures and successes to grow and improve. Rule 3: Love is All that Matters: Love yourself, your family, and your community. Let love empower you, not hold you back.

Manifestation and Gratitude:
Deep prayer and positive thinking can manifest desires. Be open to recognizing manifestations in unexpected forms. Express gratitude for success and use it to make a positive impact on the community.

Tithing:
Robert F. Smith emphasizes the significance of tithing, not just in terms of money but also in terms of time, energy, and attention. He highlights his personal experience of opening up his ranch to provide shelter and support to aging out foster care kids during Christmas. Smith challenges listeners to think about tithing broadly, including sharing resources such as extra bedrooms and support beyond monetary contributions.

Grit and Overcoming Challenges:
Smith shares his experience of growing up in a predominantly white neighborhood and attending a predominantly white school. He acknowledges the challenges faced as one of the few African American students in his class, fostering a sense of resilience and determination. Smith emphasizes the importance of recognizing similarities among people and focusing on individual effort and hard work rather than perceived differences. He encourages individuals to set goals and put in the necessary effort to achieve success, even when faced with obstacles.

Entrepreneurial Success:
In response to a question about what set him apart from other business owners, Smith highlights several key factors. He emphasizes the importance of understanding the market and identifying unmet needs. Smith stresses the significance of hiring talented and passionate individuals and creating a supportive and inclusive work environment. He underscores the need for perseverance and resilience in the face of challenges and setbacks. Smith also mentions the value of seeking out mentors and advisors who can provide guidance and support in navigating the business landscape.

Robert F. Smith’s Perspective on Building a Global Business:
Robert F. Smith sought to establish a global business with superior returns and a minimal loss ratio, leading to extensive planning and infrastructure development.

The Importance of Setting Clear Goals:
Smith emphasized the significance of defining a clear goal and aiming for long-term success rather than quick wealth.

Establishing a Strong Business Foundation:
He highlighted the need for strong business ethics, recruiting suitable individuals, developing a sound infrastructure, and maintaining uncompromising standards to build a sustainable business.

Comparing Goals with Other Firms:
Smith observed that some private equity firms had different objectives, leading to different business strategies and success levels.

Achieving Success through God’s Goodness:
Smith suggested aligning goals with God’s goodness and dedicating time and effort to support those goals through various activities.

Three Key Daily Habits for Success:

1. Deep Thinking and Manifesting Goals:
Thinking deeply about aspirations and articulating them to the universe, accepting outcomes as they manifest.

2. Willingness to Engage in All Aspects of the Business:
Being prepared to perform any task within the organization, instilling a sense of equality and responsibility.

3. Early Rising:
Maintaining a habit of rising early to engage in clear thinking and avoid distractions.

What is Intellectual Property (IP):
IP is an idea that manifests itself in a business form or construct. Examples: Renovating houses, developing an app to match house developers and investors.

How to Protect IP:
Develop the idea first. Seek legal help to ensure the idea is unique and protectable. Commercialize the idea to make it valuable.

Importance of Commercialization:
Even great ideas are worthless if not commercialized. Commercialization can lead to significant financial success.

Example of Missed Opportunity:
Robert Smith and his brother had the idea of fluorescent golf balls 40 years ago. They failed to commercialize the idea and missed out on a multi-billion dollar industry.

Focus on Enterprise Software and Technology:
Software is the most productive tool introduced in the business economy in the last 50 years. Robert Smith emphasizes the importance of software and technology in his business and investment strategies.

Learning to Code and Embracing Software Technology:
In today’s world, software permeates every aspect of the economy, making it an essential skill for individuals to learn. Especially for those under the age of 25, understanding code and how to program is crucial for accessing opportunities in the modern economy. Learning to code opens doors to various fields, from programming software to improving business operations.

Software Development as an Accessible and Lucrative Business:
Software development is a productive tool in business and economics that does not require significant capital investment. Unlike real estate development, which requires substantial funds, software development can be pursued with free computing power available on the internet. By utilizing free computing resources, individuals can build products and services that can be commercially viable and potentially lead to significant financial success.

Facebook’s Example of Software Success:
Facebook, a company worth billions of dollars, was developed using a personal computer (PC). This demonstrates the potential for individuals to achieve great financial success through software development. The key is to have an idea, develop it, market it effectively, and find buyers for the product or service.

Encouragement to Embrace Software and Technology:
Robert F. Smith encourages individuals to embrace software and technology as a means to create wealth and success. He believes that with the right mindset and dedication, anyone can achieve significant financial success through software development. He hopes to see young people come to him in the future with successful software companies that he can invest in and help grow.

Spirituality and Success:
Spirituality played a significant role in Robert F. Smith’s life and success. He believes in speaking his goals clearly into the universe and listening to the guidance he receives. He emphasizes the importance of setting concrete intentions and aligning actions with those intentions to achieve success.

Education:
Robert F. Smith emphasizes the importance of pursuing education, aiming for the best schools available, and setting clear goals. He believes that a strong foundation in education is crucial for success and encourages individuals to demand access to the best schools.

Consistency:
Smith highlights the need for consistency in actions and efforts to achieve goals. He advises against making inconsistent choices that undermine aspirations.

Ignoring Negativity:
Smith acknowledges that negative comments and criticism are prevalent, especially within communities. He urges individuals to disregard these negative statements and focus on their goals and accomplishments.

Self-Respect and Confidence:
Smith stresses the importance of self-respect and confidence in navigating criticism. He encourages individuals to value their self-worth and demand respect from others, regardless of their age or position.

Parental Support:
Smith acknowledges the role of parental support in his success and encourages individuals to appreciate and listen to their parents. He emphasizes that parents’ encouragement and advice can be instrumental in achieving goals.

Following Your Heart:
Smith advises individuals to follow their passions and dreams, even if they differ from the advice of others. He encourages taking calculated risks and pursuing career paths that align with personal interests and aspirations.

Overcoming Obstacles:
Smith shares an anecdote about his grandfather’s advice to stay in a stable job instead of pursuing investment banking. He emphasizes the importance of listening to advice but also following one’s own intuition and aspirations.

Setting Goals:
Robert F. Smith emphasizes the significance of setting clear goals, especially when aspiring for a political career. He stresses the importance of verbalizing these goals and aligning actions with them. Researching and understanding the traits of successful politicians can provide valuable insights for aspiring individuals.

Practical Steps:
Smith highlights the potential need for gaining business and political experience to achieve political goals. He advises aspiring politicians to dedicate the next 15 to 20 years to supporting their goals consistently. Maintaining unwavering commitment to the goal is crucial for achieving success.

Personal Achievements:
Smith humorously shares an anecdote about his son taking a shower, highlighting his pride in his children’s academic achievements. He mentions his children’s outstanding academic records and their progress in their respective educational paths. Educating and nurturing his family members to thrive in the economy and the world brings him immense pride.

Education Background:
Smith reveals that he attended Cornell University and obtained a degree in chemical engineering. He further pursued his studies at Columbia University, completing his second degree.

Religious Upbringing:
Smith shares his experience growing up in a Catholic household. He describes attending church and participating in catechism classes every Sunday. His religious upbringing instilled in him a strong sense of faith and a deep understanding of his relationship with God. He emphasizes the importance of maintaining this connection throughout life, even as individuals navigate various life stages and responsibilities.

Definition of Success:
Robert F. Smith defines success as being a successful businessman in America. He emphasizes the importance of finding a unique and fulfilling path to success.

Material Motivation:
At a young age, Smith was motivated by the desire to buy his own clothes and shoes, rather than wearing his brother’s clothes with cardboard in the bottom. He sees hard work and dedication to craft as the keys to achieving success.

Journey to Wealth:
Smith made his first million dollars 20 years ago. He has enjoyed every second of his journey to wealth and success.

Message to Young People:
The most important thing Smith wants young people to remember is that they are enough. He encourages them to believe in themselves and their abilities.