“What is better than one billionaire?” Jay-Z spoke his fate into existence when Forbes announced on June 3rd that the rapper turned business mogul had officially surpassed $1 billion in net worth.
Jay-Z’s success did not happen quickly nor easily. After starting his rap career at the young age of 26, Jay began investing the money he made from music into profitable ventures. What made him stand out from his peers at that time is that he chose to start his own businesses, rather than just seeking partnerships from larger entities. Some of his most notable brands includes Rocawear, the clothing that was wildly popular in the ‘00s, and D’usse, a liquor brand he co-owns with spirits company Bacardi. After these big wins, he continued to propel forward, diversifying his assets further by purchasing minority stakes in companies, investing in real estate, and even launching the music streaming platform, Tidal.
While Jay-Z is an inspiration for many, he has specifically paved a way for artists of color. Music moguls, Kanye West and Rihanna, are among two of his protegés, and Rihanna made the list herself as the first female musician to surpass a net worth of $600 million. His wife, Beyoncé, is also worth an impressive $400 million. Coincidence? I think not.
Jay-Z’s legacy will forever be bigger than just himself, as he set a new Blueprint for those to follow.
Several women have thrown their hats into the ring to run in the Democratic presidential primary, hoping to become the nominee for 2020. Waging an election campaign is difficult for anyone, but women who want to run in the current climate will have a difficult time having their voices heard. The media, the political infrastructure, and the culture all have the potential to interfere with a candidate’s message. A lazy focus on clothes, hairstyles, ethnicity, or national origin distract from discussions about the preferred policies, professional experience, and track records of these women. Women who care about how our country is run, and by whom, should demand that ALL candidates for office be respected as serious contenders, and be allowed to make their cases without the media, the party system, and the culture distorting their voices.
As activists, we must hold ourselves accountable for the protection of these women’s voices (at least as much as we can). Anyone who wants these women’s voices to be heard more clearly should do the following:
Make a list of important issues and examine the candidates’ positions considering those issues
Focus on one candidate at a time and hear them all out before comparing
Seek out longer-form interviews and discussions instead of sound bites
Declutter social media accounts that serve only to work up emotions rather than inform
Engage with lazy reporting and redirect the conversation by contacting reporters via social media who play into the old narratives. Call them out on undermining these candidates’ messages.
Shantera L. Chatman, MBA is a the Founder & Executive Director, The Chatman Women’s Foundation Managing Partner, C+A Global Group. She is also an Author & Coach
Choosing the best business idea will be a difficult task for all the entrepreneurs. Everybody needs to explore the recent trends in the market. If you are searching for the best business ideas to start in 2019, here are top 5 business ideas to start in 2019.
1. Selling Digital Downloadable Products
Digital marketing is ever increasing and market utilization is likewise increasing. In this way, you have to make a digitallydownloadable product and sell it. You can make a software application, an eBook, Addon’s, scripts and video tutorials. This business can give you a higher profit with low investment. It tends to be run on the internet along these lines; you won’t require any space or office. It tends to be done from a homeoffice or as a part-time.
2. Shirt Designing Business
Shirt designing business has a higher potential for the next 20 years. If you are god gifted in designing and are expert in AdobePhotoshop, you can start your shirt designing business and it is going to be an amazing business.
3. Professional Blogging Business
These days, bloggers and doctors are earning the same income. You don’t need to be a professional to make a handsome income. You simply need to learn one subject and begin sharing your considerations in the right way. Make sure to be consistent on the relevant writing topic on the important theme and make your blog updated on daily basis. Sharing the views is the best work you can do in this world. Proficient blogging is an incredible method to make handsome income with the low venture.
4. Niche Freelancing Website Business
These days, everyone is looking for a part-time business especially the students. There are various freelancing sites available in the market. Yet if you make a freelancing site that supports niche freelancing website business, you can get a good number of dedicated specialists who are committed to just singlefieldwork.
5. Virtual Assistant Services
When the pre-Recession economy was at the peak, every manager, entrepreneur or the officials had an individual or official virtual assistant. Many still have full schedules and workload that make having an assistant valuable. To fill this gap, virtual assistants have become a very important part of the sharing economy. As a Virtual Assistant, you can select your customers and make your own timetable managing the bookingtravel, schedule meetings, manage emails and completing the tasks to make your clients’ lives run all the more easily.
In 2019, entrepreneurs are truly idealistic of things to come. They are earning more incomes, hiring more and paying lower taxes. For some, hiring the freelance workers is the ideal ground to get the work they require while maintaining a strategic distance from extra taxes or a long-lasting commitment. If you have the right stuff entrepreneurs could utilize, you have a very well and profitable opportunity before you. You can even begin effectively by marketing your services on different freelancing platforms.
Financial management is an important ingredient in the success of a business. It refers to organizing, strategic planning, controlling and directing of financial tasks in an institute or in an organization. It likewise incorporates principles of applying management to the financial resources of an institute or an organization, while having a significant impact in financial management. It’s a really sad fact that 90% of the businesses fail in their initial ten years, and 60% don’t make it to their third-year celebration.
The significance of Finance Management
Most businesses go through startup and development periods spending more than they are earning, however, the long haul strength and health of any organization relies upon generating more income than the expenditures. Financially viable organizations must manage the flow of cash successfully enough to abstain from debilitating finance charges and have a sufficient capital on hand that can cover the basic expenditures.
Reasons Why Finance Management is Important for the Success of Business
Here are some of the reasons why financial management is very important
Reduce Expenditure and Increase Profits
Business expenditure can cover everything from purchasing supplies and hardware that are basic for the day by day running of your organization, to costs when visiting customers and then some. Good management of finances will identify the areas of overspending or that can be adjusted.
Guarantee a Smooth Cash Flow
It is usually a poor flow of cash that sees a business comes up short. Hence, just as securing the initial capital, good financial management includes balancing financial incoming’s as well as outgoings for the organization. With poor income, you can finish up with good outgoings than the approaches making financial issues, while with more prominent approaches you should know where to reinvest successfully.
Stay on Top of the Legal Costs
There is a wide range of legitimate expenses businesses must pay, from company tax to liability insurance and others. It is basic that each business stays over these to abstain from falling into any lawful inconvenience and has cost them into their business plan from the initial stages. Clear financial management is a fundamental characteristic of a good financial manager, guaranteeing the business has enough assets to cover different fees alongside back-up if there is an increase in the taxes. Lack of common sense can prompt fines over the taxes owed or even overpaying your business.
Please the Board and Employees
Financial management will bring good rewards for the business as well as for those put resources into it. Good financial information will be requested by the board and require skills in funds management and planning. Good financial management is crucial in each business, so growing such abilities or contracting somebody very competent is an absolute necessity for any organization.
Financial management refers to taking care of the money in an effective way, one where each penny or penny is utilized viably, with the least waste. In a business sense, good financial management is fundamental to guarantee that an organization continues ticking over effectively and does not get into financial inconvenience, as the results could be serious.
Slim Thug and the BossLife Foundation hosted the 6th annual BossLife Ball on the evening of January 20, 2019 at The Post Oak Hotel. The BossLife Ball was created in 2013 to celebrate local and national entrepreneurs, leaders, and those that are excelling in the community. This event is also to raise funds for community initiatives, scholarships, and toy drives for local kids in Houston. The 2018 BossLife Ball supported the BossLife Foundation’s efforts to give away a home to a family who lost their home during Hurricane Harvey!
The evening started with a star studded red carpet experience hosted by Isiah Carey of The Isiah Factor on Fox 26 which consisted of the 2019 honorees, sponsors, and familiar faces such as Houston’s own Mayor Sylvester Turner, comedian/ artist Lil Duval, TV Johnny, Chamillionaire, Former Miami Dolphins player Alphonso Roundtree, Television Hostess Julissa Bermudez, Singer Tobe Nwigwe, Justin Martin of IJustGotHit.com, and a host of others.
Miles Triplett, an independent film director from Atlanta, Ga, recently debuted his new film “In The Moment,” in a week long theater run in the city. This was a huge accomplishment, considering the fact that many actors and directors have never had the chance to see their work in major theaters next to big box films.
VEU Magazine owner Adrena Martin, had the chance to sit down with Miles, and one of the movie head stars DeMarcus Curry to talk more about the film, gaining distribution, entrepreneurship and more.
Many are familiar with the “Pattie Pies,” which were made famous by the legendary singer Patti Labelle, but what you may not be familiar with is the story behind the desserts. Darry Chambers, from Historically Black Since @historicallyblacksince on Instagram, had the chance to speak to the creator of Pattie Pies, Kinna Thomas via Instagram live, and learn more about her story, business, entrepreneurship and more.
Check out the full audio from the interview below.
Last Thursday, author, salon owner and now restauranteur Gocha Hawkins, along with Hennessy VSOP Privilege,hosted a festive grand opening celebration for Atlanta’s newest cafe Gocha’s Breakfast Bar. VIPs flocked to the upscale restaurant, located in Atlanta’s affluent Cascade neighborhood, and cheered on as Gocha – along with City of South Fulton Mayor Bill Edwards and South Fulton Chamber of Commerce President Dyan Matthews – cut the ceremonial grand opening ribbon. The party continued inside with music by DJ Roots Queen, complimentary cocktails by Hennessy and a lavish buffet of Gocha’s Breakfast Bar specialties such as shrimp and grits, “Krunch-Tastic” French Toast, “Better Than Yo Momma” Biscuits, and Candied Maple Bacon.
Special guests included Rasheeda Frost (“Love & Hip Hop: Atlanta”), author Monyetta Shaw, Malaysia Pargo (“Basketball Wives”), Khalilah Abdul-Baqi (Ego Entertainment), WNBA athlete Angel McCoughtry, R&B singer Sammie, Je’ Wesley (Cocktail Chronicles), Merlin Knight (VP of Membership Services, South Fulton Chamber of Commerce), Dr. Catherine Foster Rowell (Councilwoman, City of South Fulton), restauranteur and consultant Greg Cole and more.
In 2015, Tuskegee University graduate Pharoah Kirk announced the creation of the CHRISTIAN HENRY brand. Headquartered in New York, designer and founder Pharoah Kirk brings a dynamic approach in men’s suiting by pairing classic Italian and English tailoring techniques with modern silhouettes. Kirk scours the globe each season and finds innovative materials to experiment with, providing designs for the modern, successful man who loves to make a bold statement in every room he enters. Read more of his journey below.
1) Tell us how you got started in your field
Bigger named brands and businesses may have swept the country of every professional dressed across the country, but there has been a need of extra care and quality. After bootstrapping the business with $25,000 in personal capital, I set out to create an international luxury brand that would help to not only educate those about custom suiting but to meet the needs and wants of every man internationally. After noticing that there was a lack of Blacks within the fashion industry of custom clothiers, it has become a mission of mine to revamp the spectrum of how the world sees designers.
Raised under parents that were entrepreneurs of dry cleaners in Detroit, Michigan, this helped to shape my entrepreneurial spirit at an early age. The setting provided a foundation for me to not only learn but also for me to gain tutelage learning how to service customers. From an early age, I aspired to present the confidence and uplifting self-esteem to others that I knew clothing could provide.
2) Talk to us about the initial startup stages with your business
I’d be dishonest if I painted a picture of happiness and say that this was me at all times. The initial stages were a tad bit challenging at times. But there was perseverance. There was determination. I knew that I had a burning fire like no one else simply because I wanted to be successful. Like any other startup company with no investors, startup capital, or funding, it can be an overwhelming feeling at times to wonder where sales were going to come from or how revenue should be spent to continue growing the business. There has been a great process of internal business maturation, but also a self-reflection, prioritization and a firm understanding that not everything needed to be tackled at once.
3) What is the most rewarding part for you about what you do?
There is no greater joy to see the excitement and smile on a man’s face once he is trying on his new suit that he helped to create, design, and be apart of as far as the decision-making process. A client once told me that, “I had low self-esteem previously, but knowing that I have on clothes that actually fit my body properly, and it helps that random strangers give me compliments as I walk down the street. It’s so uplifting to my spirits.”
That compliment along with other similar compliments that I have received over the course of my business career has helped me to know that business is not just about how much you’re profiting, but it’s about how much you’re making an impact to the individuals that you service.
4) What has been the biggest lesson about overcoming obstacles and failure that you have learned throughout your business journey?
Overcoming obstacles and failure is monumental. It’ll either make or break you as a person. The biggest lesson that I have learned is that you cannot allow yourself to have negative emotions in the world of business. It can be detrimental or catastrophic to your business if you allow these emotions to be seen, heard, or assumed. I operate with a strong level of positivity. Positivity is infectious because it allows the world to witness vibes that genuinely make someone beautiful inside and out.
5) Tell is about upcoming projects you are working on
Currently, there are two focal projects that I am currently working on. 1. Because we have recently entered into the “red carpet” season (Oscar’s, Grammy’s, etc.), my team and I are working diligently on making sure that all of our clients look their best on the red carpet and after-parties with never seen styles and designs before. This means that we are partnering with celebrity stylists and professional agents to make sure all provided clothing is prioritized and perfect for every signature event. 2. We are creating educational curriculum for the symposiums of the NFL that will help to educate rookies on the importance of their attire. This is extremely important to the building of their brand but also to the adherence for their employers.
6) How did your experience at an HBCU prepare you for your current entrepreneurial endeavors?
While attending Tuskegee University, the institution and student life helped to prepare me for battles of management of personal funds, proper etiquette of business meetings, and punctuality of time management. A lot of HBCU graduates often share stories of their unique experiences, but after all stories are told, there is a sense of “togetherness” in the air. It’s a feeling that individuals whom have never attended an HBCU can feel. No matter what HBCU you attended, that bond is truly something unique.
7) Leave us with some words of advice you can offer to aspiring and current entrepreneurs?
There are three key elements for aspiring and current entrepreneurs that are critical to their success.
1. Organization – Without this, your business will fail. Look into utilizing all resources that can help you to stay on top of organization. There are various apps and software that will be your best friend during your journey.
2. Education – Look into your local cities for programs that are offered for aspiring and/or current entrepreneurs. These programs may be in the form of incubators, workshops, and seminars. These are a wealth of knowledge not only from the material that is given, but to the individuals that you will meet.
3. Networking – This is a key element. Putting yourself out there to meet individuals whom you may or may not know is extremely important as it helps to bring awareness and future services or sales to your business.
We all know so many people who don’t enjoy working their 9 to 5. We know so many people who say that one day they want to work for themselves and have their own business. But then why isn’t it that we see more people actually walking the walk and being self-employed?
The answer? They’re fearful. Fearful of what, you may ask?
There are quite a few reasons people are afraid to take the leap from corporate to entrepreneurship. Here are some of the biggest reasons below:
1)They’re afraid of taking a risk.
Corporate life is seen as being more secure because more is guaranteed. You have a set salary, health benefits, etc. and not all of those things are set in stone with owning your own business. The average person likes things to be dictated to them rather than having to figure out how to make all those things work for themselves.
2 )They’re afraid they’re not smart (or knowledgeable) enough.
What if I make a mistake with recording my income and expenses? How do I take care of self-employment tasks? Who would be the best partners or employees for my business? Again, having to figure things out is an essential part of entrepreneurship. The best way to succeed is to know a little bit about everything, but most people are used to being specialized in one skill, because that’s what corporate life teaches us we should do.
3 )They’re afraid to change their lifestyle.
We perceive big changes as intimidating, when many changes can be very good for us. You won’t know unless you do something different.
4 )They’re afraid of selling.
Running a business means constant promotion and constantly making connections. You need to be able to say why your product or service is worth spending money on and why it’s better than other competitors. The sales aspect turns a lot of people off, because they’re afraid of coming off as pushy or aggressive.
5)They’re afraid of letting others down.
This is especially true if you have a family that’s dependent on you. Many people wishing to have their own business are afraid of not being able to provide for their spouse, children, or anyone else that may depend on their income and benefits.
Regardless of the reason you may be afraid, while some may have merit in certain situations, many of these fears are exaggerated or just downright wrong. For many people, becoming an entrepreneur is the best decision they ever made.