Nail Boutique Owner Grows Business In Baltimore | Morning Joe

>>> THERE'S A NEW CONCEPT TAKING WHOLE WHEN IT COMES TO
REINVESTING IN COMMUNITIES. RATHER THAN JUST DONATING MONEY,
ONE PROGRAM IS FOCUSING ON EMPOWERING SMALL BUSINESSES,
WHICH IN TURN HIRE MORE PEOPLE AND CONTINUE THE CYCLE.
EIGHT GOLDMAN SACHS 10,000 SMALL BUSINESSES PROGRAM, AND WE
SHOULD NOTE THAT GOLDMAN SACHS IS A PARTIAL SPONSOR OF OUR SHOW
THIS MORNING. JOINING US FROM MT. VERNON
MARKETPLACE IN BALTIMORE JUST OUTSIDE A RESTAURANT OWNED BY
ONE OF THE PROGRAM'S GRADUATES WE HAVE CEO LLOYD BLANKFEIN,
FORMER MAYOR OF NEW YORK CITY MICHAEL BLOOMBERG AND THE OWNER
OF SCRUB NAIL BOUTIQUE, JASMINE SIMMS WHO IS GRADUATING FROM THE

CONGRATULATIONS. >> THANK YOU.
>> LLOYD, WE'VE BEEN FORTUNATE ENOUGH TO GO TO MANY OF THESE
EVENTS WITH YOU AND SEE -- >> LOVE THE PROGRAM.
>> -- THE IMPACT THAT THIS PROGRAM IS HAVING.
TALK ABOUT WHAT YOU'RE FINDING AFTER DOING THIS FOR SEVERAL
YEARS, HOW IS THIS PROGRAM TAKING ROOT IN COMMUNITIES AND
REALLY HELPING PEOPLE START THEIR OWN SMALL BUSINESSES.
>> WELL, THANKS A LOT, JOE. WE'VE BEEN DOING THIS IN, FOR
ABOUT SEVEN YEARS NOW. WE'RE UP TO 14 CITIES, AND WE
ALSO HAVE A NATIONAL PROGRAM THAT BRINGS PEOPLE TOGETHER IN
CLASSES WHERE WE ARE OPERATING IN COMMUNITIES THATT CHOOSE SMAL
DEDICATED PROGRAMS, BUT WHERE WE'VE DONE THIS WE'VE FOUND
ENTREPRENEURS WHO ARE IN BUSINESS, HAVE DONE KIND OF
WELL, AND NEED TO BREAK OUT TO THE NEXT LEVEL, AND THAT'S KIND
OF A SWEET SPOT, WHERE WE CAN GET REAL JOB GROWTH AND WE CAN
JUST TAKE PEOPLE WHO COMMITTED, PROVEN, HAVE THE AMBITION, HAVE
THE CONCEPT, AND SORT OF GET THEM TO LEVERAGE THEMSELVES A
LITTLE BIT MORE, PROVIDE THEM WITH CAPITAL, PROVIDE THEM WITH
BUSINESS EDUCATION, THAT HAS COMPONENTS OF NEGOTIATION, HOW
TO DEAL WITH, HOW TO REQUEST FINANCING, SUPPLY SOME FINANCING
IN MANY CASES, HOW TO NEGOTIATE, DEAL WITH THEIR EMPLOYEES, AND
MOST OF ALL, GIVE CONFIDENCE TO PEOPLE WHO ARE PRETTY TERRIFIC
TO BEGIN WITH, AND AS A RESULT OF THIS, EMPLOYMENT TAKES OFF IN
THESE PLACES. >> MAYOR BLOOMBERG IT'S WILLIE

GOOD TO SEE YOU. I KNOW YOU'RE ON THE ADVISORY
BOARD HERE. TALK A LITTLE BIT ABOUT THE
CLIMATE FOR SMALL BUSINESS. PRESIDENT TRUMP TOUTED IN THE
LAST SEVERAL DAYS THE STOCK MARKET.
HE'S TOUTED LOW UNEMPLOYMENT. WHAT'S IT LIKE FOR AN
ENTREPRENEUR LIKE JASMINE RIGHT NOW, TRYING TO START A BUSINESS
IN THIS COUNTRY? >> WELL, ALL THE JOB GROWTH,
WILLIE, IN THE UNITED STATES HAS BEEN IN SMALL BUSINESSES FOR A
WHILE. PEOPLE ARE MOVING FROM BIG
COMPANIES TO SMALL COMPANIES. SMALL COMPANIES HAVE THE
ADVANTAGE OF TYPICALLY LOCAL, TYPICALLY WHERE YOU CAN GET SOME
OWNERSHIP IN THEM. TYPICALLY WHERE YOU CAN BRING
YOUR SKILLS TO BEAR, WITHOUT BEING OVERBURDENED AND HAVING TO
GO RETAIN, AND WHAT WE NEED TO DO IS TO CREATE MORE SMALL
BUSINESSES THROUGHOUT THE COUNTRY TO GIVE PEOPLE WHO ARE
LOSING JOBS IN LOSING JOBS AND THAT ARE BEING PHASED OUT
BECAUSE OF TECHNOLOGY OR INDUSTRY OR PEOPLE MOVING, GIVE
THEM JOBS WHERE THEY ARE USING THE SKILLS THAT THEY HAVE.
WE CAN TALK ABOUT BIG COMPANIES AND GETTING MORE SKILLS, BUT
THAT'S WHERE AUTOMATION WILL CONTINUE TO REDUCE EMPLOYMENT.
IT'S THE SMALL BUSINESSES WHERE PERSONAL SERVICE REALLY MAKES A
DIFFERENCE AND WHERE THEY CAN'T AFFORD A LOT OF BIG TECHNOLOGY
PROJECTS THAT ARE GOING TO MOTOR OUR ECONOMY ALONG AND GIVE
PEOPLE THE DIGNITY OF A JOB AND THE ABILITY TO TAKE CARE OF
THEIR FAMILIES. >> SO, JASMINE, I WANT TO HEAR
YOUR STORY, ESPECIALLY AS IT PERTAINS TO SOME OF THE
CHALLENGES THAT YOU FACE IN BALTIMORE.
MAYOR BLOOMBERG, OF COURSE, HAS HAD A HUGE IMPACT IN BALTIMORE
WITH JOHNS HOPKINS UNIVERSITY. JASMINE, THOUGH, TRYING TO GET A
BUSINESS GOING AND MOVING IN THE CITY OF BALTIMORE, HOW HAS THE
PROGRAM HELPED YOU, BUT WHAT ARE SOME OF THE CHALLENGES YOU STILL
FACE? >> SO I STARTED MY BUSINESS WITH
LIKE LITTLE TO NO RESOURCES. SO I STRUGGLED A LOT JUST TRYING
TO FIGURE IT OUT ON MY OWN THROUGH TRIAL AND ERROR.
WHEN I CAME ACROSS THIS PROGRAM, I KNOW IT OFFERED THE STRUCTURE
AND STRATEGY THAT I NEEDED TO TAKE MY BUSINESS TO THE NEXT
LEVEL. THEY'RE DIFFERENT CENTERS AND
HELP YOU GET STARTED. YOU RUN INTO CERTAIN PITFALLS
AND ROADBLOCKS, YOU NEED TO KNOW HOW TO NAVIGATE THOSE
CHALLENGES. SO THIS PROGRAM REALLY HELPED
OPEN MY EYES TO JUST A GREAT GROUP OF INSTRUCTORS AND
PROFESSORS WHO CAME FROM ALL OVER THE PLACE WHO REALLY HELPED
US ZONE IN ON WHAT OUR OPPORTUNITIES WERE AND HOW TO
NAVIGATE THOSE AND USE THE RESOURCES THAT WE HAVE AND ALSO
THE MEMBERS OF OUR COHORTS, THE RESOURCES FROM THEM AS WELL.
>> LLOYD, WE'VE BEEN TALKING ABOUT SMALL BUSINESSES HERE, BUT
OBVIOUSLY THSLY THERE ALSO IS AF CONCERN ABOUT WHAT'S HAPPENING
WITH THE ECONOMY IN GENERAL. YOU'VE GOT THE PRESIDENT SAYING
THAT THIS IS THE BEST ECONOMY THAT WE'VE HAD IN A VERY LONG
TIME. I'M JUST WONDERING, WHAT ARE YOU
LOOKING AT NOT ONLY THE UNITED STATES, BUT ACROSS THE WORLD AS
FAR AS OUR STANDING AND COMPANIES THAT AREN'T JUST
CONTAINED INSIDE THE BORDERS OF THE UNITED STATES.
WHAT'S THE CLIMATE LIKE? >> JOE, IT MAY NOT BE THE BEST
ECONOMY WE'VE HAD FOR A LONG TIME, BUT IT'S PRETTY GOOD.
IF YOU WERE TRANSPORTED DOWN HERE, IF YOU WERE FROZEN IN AN
ICEBERG FOR FOUR YEARS AND YOU KNEW -- AND YOU WOKE UP, CAME
OUT, THAWED AND YOU SAW AN ECONOMY THAT'S AT FULL
EMPLOYMENT, LOW ENERGY PRICES, BASICALLY BALANCE SHEETS HAVE
BEEN CURED, A LOT OF CASH, AGAIN, LOW RATES, YOU'D THINK --
AND AGAIN, PEOPLE MAY NOT LIKE THE JOB THEY HAVE IN EVERY CASE,
BUT THEY NEVER DO. WE'RE HERE KIND OF IN A FULL
EMPLOYMENT SITUATION NOW. I'D SAY IT'S PRETTY GOOD.
I'D SAY THE POLITICAL ENVIRONMENT IS VERY BAD.
AND WHEN YOU'RE DEALING WITH THE ECONOMY, IT'S NOT -- IT'S NOT
JUST SCIENCE, YOU'RE DEALING ALSO WITH SENTIMENT SO OF COURSE
THERE'S AN INTERACTION BETWEEN THE POLITICS AND THE ECONOMY
BECAUSE AT THE END OF THE DAY ECONOMY REQUIRES CONFIDENCE.
AND SO IT COULD BE BETTER. THERE'S SOME FRUSTRATION ABOUT
THE FACT THAT IT COULD BE BETTER, BUT REALLY, JOE,
FINANCIAL CONDITIONS AND ECONOMIC CONDITIONS ARE REALLY
NOT AS BAD AS THE POLITICS WOULD SUGGEST.
>> MIKE BARNICLE. >> MR. MAYOR, YOU JUST HEARD
WHAT LLOYD SAID. THE DOW YESTERDAY ROCKETS
THROUGH 2222,000. EVERYBODY, FRONT PAGE STORIES
ABOUT THE DOW JONES AND THE STOCK MARKET IS GREAT.
WHY DO YOU THINK THERE IS OR DO YOU THINK THERE IS SUCH A LACK
OF FAITH AMONG MIDDLE INCOME AMERICANS IN THE ECONOMY TODAY.
THEIR IMMEDIATE FUTURE IS PAYCHECK TO PAYCHECK, MONTH TO
MONTH, WHY THAT LACK OF FAITH GIVEN ALL THOSE NUMBERS THAT
LLOYD JUST ACCURATELY POINTED OUT?
>> WELL, CHANGE IS ALWAYS DIFFICULT TO DEAL WITH BECAUSE
IT TAKES YOU INTO THE UNKNOWN AND IT'S MUCH MORE COMFORTABLE
TO CONTINUE TO DO WHAT YOU'RE DOING.
UNFORTUNATELY, THE WORLD DOESN'T LET YOU DO THAT, YOU HAVE TO
CHANGE. AND I THINK WHAT'S HAPPENING IS
SOME INDUSTRIES ARE GOING AWAY, SOME INDUSTRIES ARE COMING BACK.
WHAT WE NEED TO DO IS TO HAVE MORE GLOBAL TRADE BECAUSE THAT
CREATES JOBS IN AMERICA. UNFORTUNATELY, SOME OF THE
POLITICIANS TRY TO CONVINCE THE PUBLIC THE REVERSE, BUT IT'S
JUST NOT TRUE. WE NEED TO BE ABLE TO EXPORT OUR
PRODUCTS AROUND THE WORLD. WE NEED TO BE ABLE TO BUY RAW
MATERIAL ITS AROUND THE WORLD, TO BUILD OUR PRODUCTS AND
RETRAIN OUR PEOPLE AND START NEW BUSINESSES.
SO WE NEED IMMIGRANTS HERE TO START NEW BUSINESSES, WE NEED
IMMIGRANTS HERE TO DO SOME OF THE JOBS THAT AMERICANS DON'T
WANT TO DO AND AMERICANS WANT JOBS THAT PAY MORE AND REQUIRE
MORE TRAINING AND THAT'S GREAT. BUT SOMEBODY HAS TO FILL IN
BEHIND THEM. AND SO AS LLOYD SAID, THE STOCK
MARKET SAYS THAT THE ECONOMY IS REASONABLY GOOD.
THERE ARE SOME INDUSTRIES THAT ARE SUFFERING.
IF YOU TAKE A LOOK AT RETAIL, BECAUSE OF THE SHARED ECONOMY,
BECAUSE OF ELECTRONIC SALES LIKE AMAZON, COMPANIES THAT LET YOU
NOT HAVE TO GO TO THE LOCAL STORE, WE HAVE TO REALIZE THAT
DIFFERENT JOBS ARE GOING TO BE THE JOBS AVAILABLE AND WE CAN'T
JUST SIT THERE AND BEMOAN O OR Y TO STOP THE OCEAN, THE TIDES
FROM COMING IN. AN I THINK IT'S TOO EARLY TO
TELL WITH THIS ADMINISTRATION. THEY HAVE ONLY BEEN IN OFFICE
FOR SIX MONTHS SO LET'S SEE WHAT HAPPENS DOWN THE ROAD.
BUT AT THE MOMENT LLOYD IS RIGHT, THE ECONOMY IS NOT
TERRIBLE, IT COULD ALWAYS BE BETTER.
SOME PEOPLE ARE SUFFERING BUT A LOT OF PEOPLE ARE BENEFITTING.
THOSE IN THE MIDDLE OF THE COUNTRY WHERE A LOT OF THE JOBS
ARE GOING AWAY HAVE TO BE GIVEN OPPORTUNITIES AND THAT'S WHAT WE
SHOULD FOCUS ON, BRINGING NEW KINDS OF BUSINESSES THERE
INSTEAD OF TRYING TO STOP OLD BUSINESSES FROM DECLINING
BECAUSE NOBODY WILL BE ABLE TO DO THAT.
>> SOME OF THE STRESS -- THE ECONOMY -- A GOOD ECONOMY DOES
TWO THINGS, IT GENERATES WELL AND IT DISTRIBUTES IT.
SOME MIGHT SAY THERE'S MORE STRESS RIGHT NOW OVER THE
DISTRIBUTION THAN THERE IS OVER THE ABILITY TO GENERATE, BUT I
HAVE TO SAY AT THE END OF THE DAY, WE WANT TO MAKE SURE THAT
WHATEVER WE DO DOESN'T HURT THE COUNTRY'S ABILITY TO GENERATE
WELL, EVEN AS THE POLITICAL SECTOR DEBATES HOW THE WEALTH
THAT'S GENERATED GETS DISTRIBUTED.
>> MIKA, IF YOU LOOK AT THE ECONOMY TODAY COMPARED TO EIGHT
YEARS AGO, NINE YEARS AGO, AFTER 2008 --
>> RIGHT. >> -- IT IS INCREDIBLE,
DOUBLE-DIGIT INFLATION DOWN INTO THE 4s AT THE END OF 2016.
IT'S BEEN A PRETTY GOOD TURN-AROUND.
>> SO, JASMINE, I WANT TO HEAR WHAT YOUR GOALS ARE.
WHERE DO YOU WANT TO BE A YEAR FROM NOW IN TERMS OF YOUR
BUSINESS? AND ALSO, CAN I BE A MEMBER OF
YOUR NAIL BOUTIQUE? BECAUSE I GO TO BALTIMORE LIKE
THREE TIMES A YEAR. >> OF COURSE.
SO AT MY NAIL SALON WE HAVE A MEMBERSHIP PROGRAM.
OUR MEMBERS PAY A MONTHLY FEE
AND GET UNLIMITED MANICURE SERVICES.
YOU GET A CHIP, YOU COME IN AND WE'LL SEE YOU.
A YEAR FROM NOW WE PLAN TO HAVE TEN LOCATIONS AROUND BALTIMORE
CITY. WE'RE EXPANDING TO HAVE EXPRESS
VERSIONS OF OUR FULL-SERVICE NAIL SALON SO OUR MEMBERS CAN GO
ANYWHERE IN THE CITY AND REDEEM THEIR BENEFITS WHERE IT'S MOST
CONVENIENT FOR THEM. SO WE CAN BE THE GYM OF NAIL
SALONS. >> HOW MANY PEOPLE WORK FOR YOU,
JASMINE? >> FOUR.
>> AND HOW MANY WILL YOU HAVE A YEAR FROM NOW?
>> OH, PROBABLY ABOUT AT LEAST 30.
>> I'M LIKING IT. >> THAT IS FANTASTIC.
>> THAT'S PRETTY GOOD. >> THAT'S GREAT.
JASMINE SIMS, CONGRATULATIONS GRADUATING THIS PROGRAM.
>> MY NEXT TRIP TO BALTIMORE I'M COMING WITH MY DAUGHTER TO GET
MY NAILS DONE. >> WE'LL BE WAITING.
I'LL BE LOOKING FOR YOU. >> LLOYD, WILLIE AND I BEING MEN
OF OUR TIME, WE ARE POPULISTS, BUT WE STILL ARE WAITING FOR THE
OFFER TO WORK AT GOLDMAN SACHS. WE'RE NOT GOOD WITH NUMBERS,
BUT, YOU KNOW, WE'LL -- YOU KNOW, WE'LL --
>> HE'S USED TO MAKING GOOD BUSINESS DECISIONS, JOE.
LLOYD BLANKFEIN, MICHAEL BLOOMBERG, THANK YOU VERY MUCH.
>> JOE, YOU HAVE TOO MUCH HAIR TO WORK AT GOLDMAN SACHS.
>> OKAY, WELL, THERE YOU GO. ONCE AGAIN DISCRIMINATED
AGAINST.

Nail Boutique Owner Grows Business In Baltimore | Morning Joe | MSNBC

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