black millionaires

How’s This for a New Year Goal… More Black Millionaires

Mood song: Family Feud by Jay Z: “Next year is the year that more black millionaires will rise! This is the time we will band together understanding the power of unity and the circulation of the Black dollar.” These are the words I shouted out of a window from a 7 story building in Harlem. I was screaming loud enough hoping everyone could hear me, even myself. I have blocked out the loud noises of these New York Streets so well that I wanted to make sure those words resonated. I repeated the statement in a mantra manner to myself and decided to send it in a text to my close circle of friends. I was amped! As the immediate replies started to roll in, I was already grinning knowing that the encouragement was about to be so fulfilling.

1st text
“Yessssssssssss, let’s go”

2nd text
“Prayer hands and black fist emoji “

3rd text
“This sounds like I wasn’t supposed to go into H&M the other day (sad face emoji). I tried but they had a major sale lol.

The last text hit me as simultaneously as the rush of disappointment did. After cursing my friend out with knowledge and no curses, I began to feel it was important to address why we should buy black and how. First, let me say we cannot continue to allow convenience to overpower our principals and morals. Taking a stand should not be contingent on how long it trends on social media. When you decide to stand up for what is right, you don’t get the option to sit down when your feet are tired, you keep going. I personally make it my goal to stop supporting businesses that choose to push oppressive rhetoric through their marketing campaigns. The lack of cultural competence shows the lack of diversity at the table. Are you ok with consistently putting money in the pockets of those that don’t support you as a human being? That’s just one part of it. Let’s discuss the benefits of buying black…

…black Americans also spend 4% more than any other race according to the State of Working America

According to the Census Bureau in September of 2018, it was reported that Black Americans are considered to have the highest poverty rate. Despite the high rating, black Americans also spend 4% more than any other race according to the State of Working America. If that money was spent and funneled back into the community, this can help with poverty rates as well as create more jobs. Historically we have seen this with the Jewish and Asian community. They support each other, which in return helps build their communities and provide financial growth. Imagine not having to wait for gentrification for your community to be cleaned up or having a say so in what is provided in your community. We have the power to change that! Fredrick Douglass said it best “Who you give your money to, is who you give your power to.”

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With power comes great responsibility, and rebuilding a community and setting a foundation is not easy and takes time. I would be doing an injustice if I didn’t speak about the barriers of supporting black-owned businesses from a consumer and owner standpoint. Here are 3 barriers that I feel we should discuss…

1. “Can I get a discount?”

Just because we are brothers and sisters does not mean an automatic discount. Why spend $400 for a brand that does not care about you but be hesitant to spend $70-$100 for a sweater that you like from a business in your community. Ask yourself; why are we devaluing our own? Why can’t a black-owned business be expensive, especially if the quality is good? Now, if you did research to only find the quality of your product conflicts with your payment, then I understand. But asking for a discount without any indication of a sale happening is wrong and we should stop.

2. “Black Businesses are unprofessional.”

This is obviously not true for all black business, mainly because no one has shopped at ALL black-owned business, but yet this quote is often brought up. I would like to say that I am aware that some businesses are not perfect and I don’t want to discredit claims of those who actually have had bad experiences, but to generalize is unfair and not productive to the change we are trying to make as a culture.

Again this is a process and we should be patient with each other. If you have encountered problems with your product or experienced bad customer service, take the time to provide constructive criticism to help. And that may seem like a lot but lending a helping hand that in return can benefit the community seems worth it to me.

Owners, it is also your responsibility to ensure that customer service and product quality is up to par. This is your business, make sure you provide those with the service and quality that you want and deserve. If you know you need help, seek it. DM me on Instagram at @kheartfelt and I’ll help you with cultivating customer service that’s better than Chick-fil-A for free, (for now).

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3. “Where they at though?”

The last barrier seems to be the hardships on finding exactly where the black-owned businesses are. There are many people that express wanting to support but don’t know where to look. This takes patience and research, you cannot complain about your circumstances without putting in the work to change it.

I can guarantee that many of you know at least one entrepreneur. Here is why, The 2018 State of Women-Owned Business Report reported that the number of women-owned businesses grew an impressive 58% from 2007 to 2018, the number of businesses owned by black women grew by a stunning 164%.

It was also reported that 2.4 million African American women-owned businesses in 2018, most owned by women 35 to 54. Lastly, Black women are the only racial or ethnic group with more business ownership than their male peers, according to the Federal Reserve. If we network and trade off on whom we know then it will make knowing where our black-owned businesses are.

I also encourage people to get out and go to networking events that host black-owned businesses and simply support them out of love, this way, you are promoting and providing others with the knowledge. To help I will list a few hubs and business that are credible and black-owned:

Shopping and Information Hub
https://webuyblack.com

Information hub
http://harlemtrends.com

Customized party designs and kids clothing
https://dexte-denim.com

Wellness
www.coachcapers.com/plans-pricing
https://www.echands4health.com

Body and hair essentials
www.etsy.com/shop/miracledemonet
https://buttermessentials.com

Clothing and Fashion
www.nxnworldwide.com
www.eboniandivoryboutique.com/
https://www.legacyelitewear.com
www.luckylaced.com

Knowledge/E-books
https://linktr.ee/afrikanlibrary

Film and Photography
www.davianwilliams.com
www.wendypredestin.com/

These are just a few; please support your people on all platforms especially if they are driving the culture forward. Let’s come together and change our circumstances. Let’s stop competing with one another and support each other. There is no better time than NOW. Repeat the following one more time and this time say it with your chest (Kevin Hart Voice).

“Next year is the year more black millionaires will rise! This is the time we will band together understanding the power of unity and the circulation of the Black dollar.”


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