The hustle is a very important part of a successful entrepreneur‘s profile. Having to understand the business aspects as well as putting in the work to make things happen is typical for most successful business people. Serial entrepreneur Terron Tidwell learned to utilize those skills when he started a limo and taxi transportation company that he ran for 12 years before selling his business. He then used his profits to start an independent music label and in the midst of file sharing privacy affecting the industry in a negative way, Tidwell was provided an opportunity to enter the world of Wall Street.
His many years of travel as a stockbroker has led to his current partnership with HudsonPoint Capital, where he provides personable full-rounded financial management to his list of clients. Black Enterprise was able to catch up with Tidwell to discuss what led to his entrepreneurial ways and how he is able to be successful in the finance game.
You have a successful background in wealth management and work exclusively with athletes, business owners, entertainers, and executives. What motivated you to pursue this type of career and how do you balance dealing with the type of clientele who have amassed the type of wealth they have?
I’ve always had a penchant for being good with money. At the age of 13, I had a consistent cash-flow from my grass-cutting and snow removing clients. It came second nature to save and watch my money multiply. Those same principles of helping people with their problems, while earning a living, aligned perfectly with the financial industry. As far as dealing with clients, I try to find their comfort zone. Some clients are meticulous and want to know every little detail, while others just prefer the big picture. So, I work to serve them in that manner.
As a serial entrepreneur, how did you manage to not only start your businesses, how were you able to maintain, grow, and then transition into the world of finance? How were you able to take the lessons you learned to help assist you in the way you handle business now?
Prior to coming to Wall Street, I was a small business owner who had success and failures with multiple businesses. Not only did I work my tail off to raise capital, but I also hired people who knew more about the business than I did. That alone helped me avoid a lot of headaches. Learning personable skills, time management, and being tenacious are all transferable traits needed in this industry. After selling one of my business, I looked for ways to re-invent myself. I reached out to a contact in the finance business, who took me under the wing and the rest is history.
When obtaining clients, what is your approach and what do you look for when accepting them to do business with?
I look to see if there’s a vibe to build a relationship upon because it’s like a marriage. Everyone is not a fit for me and I’m not the right fit for everyone. Also, working with those who have similar needs not only provides a rinse and repeat cycle but helps me hone those skills necessary to address those problems.
What are some of the services you provide to your clients and what do you think is the key to making and keeping them happy?
One of the keys to keeping clients happy is being available and getting back to them in a timely manner. Also, showing that you care about them beyond their money. We provide them with financial planning, wealth management, investment banking, and risk solutions.
What suggestions would you give anyone who may want a future as a financial advisor and/or wants to enhance their chances of becoming a successful entrepreneur?
I would say to find out quickly if this business is for you. See if you have the stomach for rejection and prepare to work beyond your typical 9 to 5 job hours. Find a mentor who cares about your success or align with those who are where you’re looking to go.