Tarik Brooks, President of Combs Enterprises, joins Cheddar News to discuss the portfolio of brands the company aims to empower. Leading the portfolio of businesses and investments is Sean "Diddy" Combs. Brooks also talks about his relationship with the music legend. 

Between Bells

Combs Enterprises' Tarik Brooks on Empowering Businesses and What Juneteenth Means to Him

Welcome back to Between Bells. The mission of codes Enterprises is clear, be great focusing on brands that have the ability to change the world and make an impact. The company aims to give those who they represent the chance to be successful. Leading the portfolio of businesses and investment is music legend and mogul Sean Diddy combs with help from our next guest, Terrell brooks, president of combs enterprises. Welcome to the show, We're so excited to have you, let's talk about the companies under the portfolio, They're so diverse. What is the main goal of combs enterprises? Thank you for having me. It's great to be here. Uh, the main goal of combs enterprises to create unique and disruptive goods and services that deliver new value for our customers and while doing so, um empower our community by creating jobs, creating opportunities for vendors and for bringing consumers a different way to enjoy things that are important in their lives so that continue. No, no, I mean you show the portfolio is a very diverse portfolio, but our goal is to touch people throughout a number of different points in their daily lives. I was actually just going to say that that portfolio, especially with Sean Diddy combs is always so diverse Taurus before you invest. I'm sure a lot of viewers are wondering what do you look for in a company to ensure they have the same goal in mind as you and your boss at the end of the day, yep. So in addition to the portfolio businesses that we operate every day, we have a fairly significant portfolio, passive investments and quarter those investments are the one a consumer focused business that approaches the sector or industry in a very unique way, an incredibly strong founder team and the third piece which is likely the most important is the connectivity with our existing ecosystem of businesses. We want to make sure before we invest that we can add unique value to the business that we are gonna be partners with long term. I am curious has the current period of inflation had any impact on how you think about investing in your next business. Well for us we keep our our discipline the same no matter what the economic condition is, but it is very important for us to recognize that um black people are in a precarious financial situation in this country. So when things like inflation happen, they are hit worse. So for us it's important to make sure we utilize our platforms to help. So you'll see on revolt network, which is the most important black owned media company in the world. We have franchises that are based on empowering people from the financial education perspective and they include a show called assets and liabilities and another called economics where we are decoding the financial world for our audience. Um we also um I believe it's very important to walk the walk so for us, you know, we take pride in the fact that over 63% of our spend goes to black-owned businesses, you know, so we do our part to support these businesses every day and that becomes even more important in a rough economic situation. I'm so glad you mentioned that. How do you not only empower these black owned businesses in the short term, but long term moving forward, Tariq the best way we can help businesses in a long term is really pulling them into our ecosystem. So what you'll find is the business that does work for Sirach vodka or deli on Tequila will also be connected to revolt studios for opportunities will also look to find opportunities within our, our portfolio, you know, one of the upcoming investments we're going to have soon. It's a little premature to announce will be a platform that enables creatives to have more access to resources than they've had before and taking an innovative kind of turn on, on a, on a we Mark shared space model, but what we'll do is is incorporate all those creatives into opportunities throughout our entire portfolio, creating that long term relationship you described, We hope when you are ready to announce you come back on cheddar because we'd love to know absolutely that the business is led by a couple of amazing founders and we think we really will change the way young creatives get access to resources and opportunities in the future. I cannot wait for that announcement. I can't wait for it to be here on cheddar. Now, before I let you go, let's talk about finding mentors or someone to invest in your company. That's a lot easier said than done. What is your advice for entrepreneurs out there that are watching of color? What would you say to them? Yeah, I think what you have to do um is first be intentional, you have to think about the kind of mentor you need, who has the experience or resources that will help you along your journey. Uh then you need to be relentless whether that's cold calls, attending conferences, um, working through your own network to make the connections, um, you really have to not give up when, when you, when you're pushing and then once you have that relationship you have to nurture it right. The best thing about a mentor is he or she is a person that cares about your long term success even when it doesn't benefit them at all. And to do that, you have to be proactive. So I encourage all entrepreneurs to be very pro proactive when reaching out to potential mentors, cultivating and growing that relationship, staying in touch and not being afraid to ask when there are big questions or opportunities where you need help, You know, Cresco Labs has appointed you to its board of directors. Congratulations. How do you hope to diversify the cannabis space? Look, press presto labs is an amazing company and I'm honored to be on the board. Uh, charlie. The Ceo has done an amazing job growing that company. Uh, and the efforts for diversity are led by a great guy named chemo who is really doing three main things that are driving value. They are investing directly into African american owned dispensaries and craft growers. Um, they are widening their supply chain to incorporate African american and women owned companies um, in their dispensary locations through, you know, providing accessories and other key materials they need for those, uh, those, those stores. Uh, and third, they are providing funds to nonprofits across the country that are driving racial change and social justice initiatives. Sorry, can I ask you what juneteenth means to you? Yeah, sure. So juneteenth for me, first and foremost is a day of reflection and I, and it's really reflecting on the resilience of black people. Um, not only did we endure the brutality of the middle passage hundreds of years of cruel chattel slavery only to be freed into a country that, that has, has systematic racism, be a real impact on our ability to succeed. But yet we're still here, We're still fighting and we're still thriving all while providing the soul to everything that is creative in american culture. So for me, I reflect on that and that gives me um energy and enthusiasm to push and, and, and, and fight on. Um, I also hope that juneteenth becomes a day of education for people around the world who don't know The history of African Americans in this country. Uh, and and ideally that will encourage them to act to do things that change and help right the historical wrongs that, that we're still fighting today. I have about great answer. First of all, I have about 30 seconds left. I want to ask. Before we go, you're working alongside Sean Combs, what do you value in your relationship with him? Look, everybody knows Sean combs as an amazing music producer, uh an entertainer. But a lot of people still don't really understand that, that the magnitude of his business successes from um bring shelter rock vodka from 40,000 cases to more than two million globally to creating revolt as a platform that enables black people to control their own narrative. Um so and look Forbes recognized him as one of the 100 best business minds of the century. So his track record is one um that that that really can't be matched when it comes to creating brands that impact culture. But more important to me is the fact that uh he is genuinely um committed to using his platform, his network, his resources is reached to empower and uplift black people every day. And that's something that motivates me and the entire team at combs enterprises every day. And that's the real reason why we can't stop, won't stop. And that shows in everything you guys put out every single day Derrick brooks president of combs enterprises. We hope you come back, thank you so much.