#113 A.G. Gaston (Black Titan and the Making of a Black American Millionaire)

104 snips

Mar 5, 2020

A.G. Gaston's inspiring journey from the grandson of slaves to a millionaire exemplifies resilience and entrepreneurial spirit. His military service taught him discipline and hard work, while his ventures, including a funeral insurance company, showcased his commitment to his community. Influenced by figures like Booker T. Washington, Gaston believed in economic independence as essential for civil rights. His story emphasizes the importance of mentorship and the pursuit of excellence, leaving a lasting legacy for future generations.

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ADVICE

Observe and Learn

Observe people and study their lives, habits, and needs.
This helps develop situational awareness and identify business opportunities.

ANECDOTE

Hopelessness in the Mines

A.G. worked in the mines, feeling hopeless and depressed.
He realized he needed to take initiative to change his situation.

ANECDOTE

Box Lunch Business

A.G. started selling box lunches to his coworkers, finding his first business opportunity.
He then expanded to selling peanuts, popcorn, and lending money.

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What I learned from reading Black Titan: A.G. Gaston and the Making of a Black American Millionaire by Carol Jenkins and Elizabeth Gardner Hines

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The grandson of slaves, born into poverty in 1892 in the Deep South, A. G. Gaston died more than a century later with a fortune worth well over $130 million [0:01]

A 10 year old’s first business idea [5:35]

A.G. finds a blueprint to follow: A.B. Loveman [9:00]

The remarkable story of Carrie Tuggle and The Tuggle Institute [12:10]

The influence of Booker T. Washington [13:35]

The power of positive examples [15:27]

Joining the army for discipline and opportunity / Lessons from World War I [18:32]

Keep your eyes open. Study the people around you. How do they live? What makes them tick? What do they need? [25:05]

A. G. Gaston was relentless [27:20]

The parallels between Andrew Carnegie and A. G. Gaston [30:26]

Exhausted, depressed, and hopeless right before his big breakthrough [33:38]

And thus these poor devils keep themselves always under — Benjamin Franklin / Both Benjamin Franklin and A. G. Gaston valued industry and frugality [38:00]

A fundamental change in philosophy for a young entrepreneur [44:30]

A.G. starts a funeral insurance company / Inspiration from the life of Booker T. Washington [46:40]

CAP YOUR DOWNSIDE! [51:41]

Personality: Focus on only on what you can control and have a bias for action [54:00]

A.G. starts The Booker T. Washington Business College to help train potential employees [56:00]

A.G’s singular focus is on mastering his craft [57:50]

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