Daily Inspiration: The Steve Harvey Morning Show
Daily Inspiration: The Steve Harvey Morning Show

Business Tips: He began in government contracting in 2012 and credits it with helping him scale his business.

July 18, 2026

AI Summary

5 min read

“If you want to make millions, then you have to do business with a customer that spends millions.” That line from Tim Mercer, author of Bootstrap Millionaire and CFO of Cadence Ventures, captures the central logic of his career. He started in government contracting in 2012 and credits it with helping him scale his business to a level that consumer customers never could. But the path he describes is not a shortcut. It is a long, paperwork-heavy grind that begins with a written plan and a willingness to do what most people won’t.

The Psychology of Bootstrap: Grind Before Glory

Mercer grew up in Mullins, South Carolina, in what he calls “humble beginnings” with little money. After high school, he saw the military as his only real option—not a first choice, but a way out. That experience opened his mind to what was possible, and later, when he entered entrepreneurship, the same mindset applied. The title Bootstrap Millionaire is deliberate. The key word, he says, is “bootstrap”—the hard work, the patience, the faith that something can come from the mud. He quotes Les Brown: “If you want to have the things tomorrow that other people won’t have, then you gotta be willing to do the things today that other people won’t do.” For Mercer, that meant rolling up his sleeves, making sacrifices, and defying the odds that were stacked against him from the start.

Continue reading the full summary in the app — free to try.

Read Full Summary →

Free • No credit card required

Listen to Audio Summary Open in App

What you'll learn

  • 1 (02:50) **Guest Introduction: Tim Mercer** - Host Rashawn McDonald introduces Tim Mercer, author of *Bootstrap Millionaire* and CFO of Cadence Ventures Inc., a boutique private equity firm.
  • 2 (03:46) **Tim's Origin Story: From Mullins, SC to the Military** - Tim shares his humble beginnings, lack of college funds, and how joining the military became his "safety and grace" to see the world and open his mind to possibilities.
  • 3 (06:50) **The Meaning of "Bootstrap Millionaire"** - Tim explains that "bootstrap" represents grinding, hard work, and sacrifice, not an overnight success. He quotes Les Brown on doing what others won't do today to have what they won't have tomorrow.
  • 4 (11:30) **The Critical Importance of a Business Plan** - Tim emphasizes that a business plan is a written vision and a roadmap. It is essential for securing financing and showing investors you have a plan for tasks, budgets, and exit strategies.
  • 5 (13:23) **Real-World Example: Why "Crickets" Follow a Missing Plan** - Rashawn shares a story of a friend who asked for startup money but went silent when asked for a business plan. Tim agrees that many entrepreneurs fail to get funding because they have no plan.
  • 6 (22:15) **Cadence Ventures: Private Banking for Investors** - Tim explains his firm provides private financing for investment properties (single-family homes, flips) based on the property's value, not the borrower's personal debt, then sells the mortgage notes to institutional investors.
  • 7 (24:08) **Why Government Contracting is a Dis service to Ignore** - Tim argues that small businesses (especially minority-owned) should pursue government contracts because the government is required to offer bids to small businesses first, but few raise their hands.

+ Full timestamped outline available in the app

Guests on this episode

Rashawn McDonald

Show Notes

Listen and subscribe to Money Making Conversations on iHeartRadio, Apple Podcasts, Spotify, www.moneymakingconversations.com/subscribe/ or wherever you listen to podcasts. New Money Making Conversations episodes drop daily.  I want to alert you, so you don’t miss out on expert analysis and insider perspectives from my guests who provide tips that can help you uplift the community, improve your financial planning, motivation, or advice on how to be a successful entrepreneur.  Keep winning!

Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Tim Mercer.

Author of Bootstrap Millionaire and CFO of Cadence Ventures, Inc.:

🎯 Purpose of the Interview

To inspire and educate aspiring entrepreneurs and professionals by sharing Tim Mercer’s journey from humble beginnings to financial success, emphasizing the importance of hard work, faith, planning, and leveraging government contracts and nontraditional financing.

🗝️ Key Takeaways

  1. Background & Journey

    • Tim Mercer grew up in Mullins, South Carolina, in modest circumstances.
    • His path to success began with military service, which broadened his worldview and led him to entrepreneurship.

  2. Bootstrap Millionaire Philosophy

    • The term “bootstrap” symbolizes hard work, sacrifice, and perseverance.
    • Mercer emphasizes that success doesn’t come overnight—it requires grinding, planning, and faith.

  3. Importance of a Business Plan

    • A solid business plan is essential for securing funding and guiding business growth.
    • Mercer shares real-life examples of people failing to secure support due to lack of planning.

  4. Cadence Ventures, Inc.

    • A boutique private equity firm offering nontraditional financing for real estate investors.
    • Focuses on investment properties and uses the property itself as collateral.

  5. Government Contracting

    • Mercer began in government contracting in 2012 and credits it with helping him scale his business.
    • He stresses that while it’s complex and paperwork-heavy, it’s a valuable opportunity for minority-owned businesses.
    • Free resources like
Daily Inspiration: The Steve Harvey Morning Show

More from this podcast

Daily Inspiration: The Steve Harvey Morning Show →