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Build, Grow, and Expand the Legacy Wealth Perspective of Black Men | 191

Build, Grow, and Expand the Legacy Wealth Perspective of Black Men | 191

The Black Male Equity Initiative is an interactive exploration of what wealth and equity look like and how you can build it. The intent of the Black Male Equity Program is to establish a foundation from which to build, grow, and expand the Legacy Wealth perspective of black men by measuring and monitoring four specific milestones and results of a black male cohort.

Our episode this week is a panel discussion about the first cohort of the Black Male Equity Initiative that took place in Detroit, Michigan. Our featured guests today are Dr. Pamela Jolly, Christopher Rutherford and Richard Grundy.

Dr. Pamela C.V. Jolly is Founder and CEO of Torch Enterprises Inc, a strategic investment firm committed to minority business growth and development. Torch Enterprises has assisted over 1000 entrepreneurs, national non-profits, trade organizations, the Federal Government, foundations and financial institutions.

Christopher Rutherford is a Promise of Place Manager in Detroit, developing strategies with community based organizations to improve life outcomes for Black men and boys. Chris has dedicated over 30 years in Michigan, helping young people from all communities to access opportunity.

Richard Grundy is the cofounder and CEO of JOURNi. JOURNi is a non-profit focused on decentralizing tech education for Detroiters. Through partnerships with workforce development agencies, schools, and other organizations, JOURNi has been able to train hundreds of youth in web-development and entrepreneurship skills vital to closing the digital divide in Detroit. 

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KEY POINTS FROM TODAY'S EPISODE:

  • Dr. Pamela Jolly:  Kelly Miller, is one of my favourite black men on the planet.  He was the African American to attend John Hopkins University’s PhD Program, and then went on to be the Dean of Howard University.  He was also the editor for both Booker T. Washing and W. E. B. DuBois. He didn’t believe it was either/other, he believed it was both/and — it was vocational and educational instruction that was necessary for us to get further down the road. He created the middle road, a way for us to work together, to be able to build wealth.  It’s still very, very much important for us to figure out ways to work together, and Kelly Miller’s legacy is definitely a wonderful example of how that can be done.
  • Mr. Christopher Rutherford:  I’m grateful for the men in my family who were good men that worked hard to take care of the family and teach us  work ethic.  In terms of public figures, I’m grateful for Marcus Garvey.  Understanding that his philosophies were the underpinnings of Black Nationalism in this country in a lot of ways has informed who I am and how I proceed through my work, with understanding how do we elevate and change the African American Community. Secondarily, Malcolm X and a host of others.
  • Mr. Richard Grundy:  I’m grateful for Shawn Dove, the CEO of the Campaign for Black Male Achievement (CBMA).  I met him through an innovation challenge for CBMA. I’m also grateful for Shawn Wilson, the President of Boys and Girls Club. He gave me an opportunity to do something that I really didn’t know how to do — running an entrepreneurship program with youth and incorporating technology.  He gave me lessons on being a leader and how to carry myself.
  • Dr. Pamela Jolly:  The Black Male Equity Initiative was birthed by expanding the narrative of the CBMA to include wealth and create a succinct program and placing it in Detroit where CBMA has worked extensively.
  • Mr. Chris Rutherford:  I was asked by Shawn to lead the Black Male Equity Initiative — to create long-term, sustainable wealth.
  • Mr. Richard Grundy:  I wanted a skillset that nobody could take away from me, where I could generate income easily. So, I moved to New York and went to the coding bootcamp.
  • I thought, if the people back home in Detroit knew about this, the sky would be the limit.
  • So, I moved back home and started JOURNI and I’ve been working with young black men ever since.
  • Dr. Pamela Jolly:  The Black Male Equity Initiative’s programming is all based on the Narrow Road, a custom-tailored curricular specifically for Black men.  It stems on the core, primary finding of my research that it takes three generations to build legacy wealth, and only one generation to lose it
  • When looking at the target audience for the Black Male Equity Initiative, it was important that the cohort be cross-generational. It also had to be cross socio-economic levels, so we had the credit investors and non-credit investors.
  • The desire is to create a brotherhood of Black men that are committed to wealth.
  • Once you have a stronger understanding of equity, which is really wealth stored up, you can be a wealth builder because you recognize the wealth within yourself
  • Mr. Chris Rutherford:  How do you build wealth for yourself, your family and community and keep it?
  • It was important to begin with our historical context and move forward building programs.
  • We did an historical analysis of who we were as a people, with a lens toward equity, wealth and capital.
  • The focus was on how wealth is built in this country, how it applies to us, and what we need to do to move forward.
  • Dr. Pamela Jolly: We all don’t get there the same time, but if we keep moving, we maintain momentum.
  • The Black Male Equity Anthology is a synthesis of many of the men in the cohort who went the distance.
  • We’re now exploring the different ways in which we can bring this to the community, and hosting a Black Male Initiative webinar series.
  • After the year of demonstration and preparation, this year is the year of invitation.
  • I’m not married to method; I’m married to outcome.
  • We do need to expand the narrative of Black male achievement to include wealth creation and have Black men own their relationship with themselves and their definition of wealth, so they can pursue it in their lifetime and pass it on to generations.

 

BLAZER ACTIONS

  • In the last quarter of 2019 and the 400th year anniversary of us going from being the asset to owning the asset, begin to blaze your trail by taking inventory of where you are, determine where you want to be, and write a financial projection to get there.
  • Let’s be real about the business of yourselves. The primary purpose of business is to build wealth.
  • It’s never too late to start, but the earlier, the better.

 

THIS EPISODE WAS SPONSORED BY:

The Campaign for Black Male Achievement. Join, support and invest in this movement to help improve the life outcomes of our black men and boys.

DID YOU ENJOY THIS PODCAST?

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Andrea Evans: Blaze your Trail and Protect It! | 173

Andrea Evans: Blaze your Trail and Protect It! | 173

Understand the different types of intellectual property and their options.

Our featured guest today is Andrea Evans.

Andrea Hence Evans, Esq. is the founder of an intellectual property law practice, The Law Firm of Andrea Hence Evans. Attorney Evans career path is unique since she worked at the United States Patent and Trademark Office (USPTO) for approximately 5 years as both a patent examiner and a trademark examining attorney after graduating from law school.

Andrea Hence Evans, Esq. is a 2002 graduate of The George Washington Law School in Washington, DC. While attending law school, she took advantage of the school’s world renowned intellectual property curriculum. She is a graduate of Spelman College and Georgia Institute of Technology (Georgia Tech) in Atlanta, Georgia, where she obtained a Bachelors of Science in Mathematics and a Bachelors of Civil Engineering, respectively.

Andrea Hence Evans, Esq. is a member of the Texas bar. She is also a registered Patent Attorney. She is a member of the US Supreme Court Bar. The Firm currently represents independent inventors, entrepreneurs, small, medium, and Fortune 100 clients in multiple states and multiple countries with patent, trademark and copyright issues. She is also the owner of a hands-on Science, Technology, Engineering and Math program, KidGINEER, LLC. She is the author of All About Inventing, Everything You Need to Know About Patents from a Former USPTO Patent Examiner & Patent Attorney. She is also a Patent Attorney on the PBS television show, MAKE48.

CONNECT WITH ANDREA

RESOURCES MENTIONED:

 

TWEETABLES:

KEY POINTS FROM ANDREA:

  • I am most grateful for the support and love that I am getting from everyone on Social Media.  Everyday I’m getting about 5 to 10 referrals without asking.
  • My target audience is everyday people.  I primarily work with individual small business owners and entrepreneurs.
  • Everyday these small business owners are posting something on social media about their businesses, essentially giving it away, and someone will advise them to protect their IP and they tag me.
  • Here’s the 411 on Intellectual Property (IP) from @EvansIPLaw.  IP is divided into 3 types — patents, trademarks and copyrights.
  • To protect your IP you would patent an invention, trademark the name of that invention, and copyright its written materials.
  • Everyone has some type of intellectual property, whether you’re an entrepreneur or not, or just taking notes and listening to this podcast, those notes can be copyrighted.
  • Did you know you can build legacy and generational wealth with intellectual property? @EvansIPLaw tells us how on today’s episode.
  • If you think about legacy building, intellectual property is something that can generate and create wealth.
  • Whatever you can do with real property, like your house, you can do with intellectual property.
  • @EvansIPLaw says: Your IP is extremely valuable — you can license it; you can assign it; you can sell it; you can will it.  It’s extremely valuable.
  • To have something that is patentable you need more than an idea or a general concept. A real invention needs to be described in a way that someone can use it.
  • Does your invention meet the criteria?  Is it useful and does it solve a problem?  Is it novel or new? Would it be obvious to one of ordinary skill in the art to take what’s out there and combine it to make your invention?
  • You want your invention to be useful, novel and non-obvious to make it patentable.
  • The patent rules are executed on a first-to-file basis.  You need to be the first to file and get it in.  The filing date can make or break you.
  • Stop sitting on your inventions and burying them in your backyards and being scared to talk to someone about them.
  • Take the necessary steps and action to see if you have something patentable and protect it.
  • Software can be patented. With software you don’t actually patent the code, you patent the method – the steps that you take to go from A to B.
  • You don’t have to have your product or invention made to patent it, as long as you can describe it.
  • Once you get your patent, you can license it or sell it.
  • If you’re an inventor, you need to schedule a consultation and be able to describe your invention in a way that somebody can use it.
  • If you’re not quite sure or clear on your invention, you can file a provisional patent to hold your date for a year.  When you come back to complete the process you can file a non-provisional patent.
  • @EvansIPLaw says: Don’t think no one else has your idea. A lot of people have patents and never go to the store, so you need to do your research.
  • Trademarks never expire, as long as you use them.
  • As your business grows the value of your brand grows.

 

THIS EPISODE WAS SPONSORED BY:

The Campaign for Black Male Achievement. Join, support and invest in this movement to help improve the life outcomes of our black men and boys.

 

DID YOU ENJOY THIS PODCAST?

If you're listening on Apple Podcasts, help us reach more trailblazers like you by leaving us a 5 star review! Ratings, reviews and subscribes are extremely helpful to expanding our reach within the Apple community.

 

Dr Dennis Kimbro: The 7 Laws of Creating Wealth | 158

Dr Dennis Kimbro: The 7 Laws of Creating Wealth | 158

Our featured trailblazer today is Dr. Dennis Kimbro.

He’s spent his entire career interviewing peak performers all over the world, and gleaning the best ideas, strategies and success principles from their words. He’s heard the same things enough times to know that all people who succeed tend to follow the same path and that all people who have not succeeded yet tend to fall into the same pit over and over again.

Dennis Kimbro is a best-selling author of five books, writing partner and master trainer for the prestigious Napoleon Hill Foundation, and is on the faculty at Clark Atlanta University School of Business Administration. He is a recipient of the Dale Carnegie Personal Achievement award.

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KEY POINTS FROM DR. KIMBRO:

  • At the counter of success there are no bargains, you must pay the price and you must pay the price in advance and in full.
  • The average individual in our society gets 4 ideas a year.  If you had the guts, the courage, and the fortitude to chase your dream, you might be financially independent. 
  • You get 30,000 days on earth.  Time is not running out, but your life is. What are you going to do with the rest of life that you have left?
  •  There are 10 different forms of wealth
                1. Knowledge.  The pocketbook cant grow until the mind grows.
                2. Work habits.  Do your work.  Go the extra mile.
                3. Money. Multiple streams of income.
                4. Contacts. Networking is a critical skill.
                5. Creativity.  Business is a talent show.
                6. Persistence. The ability to hang on long after others have given up.
                7. Confidence and Charisma.  
                8. Luck.  The harder you work, you luckier you get.
                9. Energy.  High and low, fast and slow.
                10. Choosing the correct vocation.
  • Loving Relationships begins with the love of self.  I love approval but I don’t need it. Those people who love approval and don’t receive it will be immobilized.
  • You already have a job  your job is continuous growth and personal development, being better today than where you were yesterday.
  • The man or woman who wont control his finances won’t control anything else.
  • Nothing positive will ever occur in a community that fails to circulate its dollars.
  • At the rate that were going right now, it will take about 230 years to close the wealth gap.
  • For more than 250 years the quickest way to grow wealth in America was owning, buying and trading your first slave.
  • Because America never atoned for slavery, they had another act, followed by another act, followed by another act. There was slavery, then Jim Crow Laws, the Black Codes, Separate But Not Equal, Reconstruction, Redlining, Subprime Loans, and Mass Incarceration.
  • 27% of African Americans spend more on a weekly basis than what they bring in
  • 40% of African Americans dont have a savings plan
  • Almost 50% of African Americans dont even have a bank account
  • The #1 bank of Black American is Wal-Mart, #2 is the Post Office
  • There are more check cashing facilities in the State of Mississippi than McDonalds Restaurants
  • There are more check cashing facilities in the State of Alabama than Starbucks
  • We need a plan!  A roll-out plan, a national plan on financial literacy, and weve got to start in our Black churches.
  • The average dollar stays in the East Indian Community for 45 days before leaving.
  • The average dollar stays in the East Asian Community for 24 days before leaving.
  • The average dollar stays in the Jewish Community 19 days before leaving.
  • The average dollar stays in the Black Community 6 hours before leaving.
  • The 7 Laws of Wealth
    •  Wealth begins in the mind but ends in the purse.
    • Decide that you will not be poor. A little bit less talk and a little more do.
    • Believe in thyself when no one else will.
    • To thine own self be true; find your unique gifts. Find your area of excellence and pour your whole heart and soul into it.
    • How may I serve thee?  Service is the price you pay for the space you occupy
    • Thou shall own thy own business.
    • Make Thy Money Grow.
  • Three questions to ask in order to find your area of excellence:  
    • What do I love to do?
    • What would I do for free?
    • Ask someone else, “What do you see in me?”
  • An entrepreneur solves problems and serves people.  Solve a small problem, make a little money.  Solve a big problem, make a lot of money.
  • People will make you rich or people will make you poor, depending on your level of service.
  • Q+Q+MA=C.  The Quality of your service + the Quantity of your service + the Mental Attitude in which it was rendered = Compensation.
  • People dont care about you until they realize how much you care about them.
  • Any problem can be solved if enough people care.

THIS EPISODE WAS SPONSORED BY:

The Campaign for Black Male Achievement. Join, support and invest in this movement to help improve the life outcomes of our black men and boys.

ONE ACTION:

Turn inward.  Look at yourself.  You are responsible for you.  The circumstances that surrounds a man or woman's life are not important. It is how that individual responds to those circumstances that is the number one determining factor of whether that individual fails or succeeds.

DID YOU ENJOY THIS PODCAST?

If you're listening on Apple Podcasts, help us reach more trailblazers like you by leaving us a 5 star review! Ratings, reviews and subscribes are extremely helpful to expanding our reach within the Apple community.

 

Jay Morrison: Give The Gift of Legacy | 157

Jay Morrison: Give The Gift of Legacy | 157

Learn key strategies to building wealth and legacy despite an individual's starting point.

Our featured trailblazer today is Jay Morrison.

A successful entrepreneur and business mogul, Jay Morrison is the CEO and founder of several organizations including the historic Tulsa Real Estate Fund, and the Jay Morrison Academy, which was featured on Inc.’s 2018 List of Fastest Growing Companies. Beating the odds after growing up in poverty, dropping out of high school and serving time in prison for drug trafficking, Jay was able to turn his life around by breaking into real estate and becoming one of the industry’s biggest influencers.

Jay is truly on a lifelong mission to bridge the wealth gap and provide accessible education and business opportunities to those who need it most.

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Jamila Souffrant: Your Launch Plan to Financial Independence | 156

Jamila Souffrant: Your Launch Plan to Financial Independence | 156

What does being financially independent mean for you?

Our featured trailblazer today is Jamila Souffrant.

Jamila Souffrant is a podcaster, writer and founder of JourneyToLaunch.com where she shares her journey to reach Financial Independence and helps others do the same. As a money expert who “walks her talk” she helps brave Journeyers; gain clarity around their finances and create an actionable plan to reach their goals.
Because of her money habits, Jamila and her husband saved $169,000 in two years and are debt free besides their mortgage. She is also a mom of three young children and currently lives in NYC. Her mission is to teach, inspire and help others reach Financial Freedom & Independence through her platform.
The Journey To Launch podcast was named one of  “27 Podcasts You Need To Start Listening To In 2018″ by BuzzFeed. Jamila is also the resident financial expert on a weekly segment on News12, the most watched local TV news-station in NYC and has been featured in other notable media outlets such as Money Magazine, ESSENCE Magazine, TIME, Business Insider, Refinery29, CNBC & CBS

I need your help right now to share this episode. Someone you know needs to hear today's message.

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