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Showing posts with label Business. Show all posts
Showing posts with label Business. Show all posts

Sunday, June 16, 2019

What a Cliche!: The 5 Most Overused Resume Phrases

Just because something sounds good, doesn’t mean you should put it on your resume. A million other people probably have used the same phrase time and time again in their cover letter and during their interview. In today’s competitive job market, your resume needs to be innovative, unique, and eye-catching. This can’t be accomplished by using the same tired phrases that recruiters and hiring managers see and hear just about every day. Career strategist Jodi Brockington, founder & president of Niara Consulting talks about the most overused resume phrases and how we can put them to rest for ultimate job seeking success.

5 Most Overused Resume Phrases

‘I’m a team player’

This phrase is used far too often because job seekers know that every employer wants a team player. However, it’s best to demonstrate how you’ve been a team player rather than just saying that you are one. “‘Team player’ can also be misleading because it can suggest that you are a follower rather than a leader,” Brockington says. Consider phrases like “played various roles,”  “worked with multiple departments,” “thrived in diverse work environments,” or “handled a variety of tasks.”

“The team player thing is kind of played out,” she adds.

 

‘I have extensive experience in…’

People love to use this phrase, whether they’ve been working for 10 days or 10 years. Extensive is a very vague word that doesn’t tell an employer much about the actual experience you have, Brockington says. “[Extensive experience] can imply that you’ve been stagnant or that you’re older.” There was a time when this phrase was more acceptable because employers sought out individuals who had been doing the same thing for a long time. “Nowadays people are looking to hire that ‘master of many,'” Brockington says. Employers are more impressed by job seekers who have advanced and have multiple areas of expertise.

More specific phrases such as “five years progressive experience in project management and staff leadership” are a better option.

‘I’m a multitasker’

The fact that you can surf the Web while talking on the phone doesn’t make you a multitasker. In addition, multi-tasking isn’t necessarily a good trait if it isn’t done effectively. Brockington says that if not used in the proper context, “multitasker” can lead employers to believe that you aren’t detail-oriented or able to pay adequate attention to specific tasks.

It may be better to include that you are “able to prioritize and efficiently manage multiple assignments” rather than just saying that you’re a multi-tasker.

‘I am entrepreneurial-minded’

This word can be particularly damaging if it’s not something that the position calls for. Most job seekers refer to themselves as “entrepreneurial” in order to show independence and leadership skills. However, the term often implies that you “lack work experience or want to do things your own way,” Brockington says.

She suggests that a better approach would be to highlight your skills in strategic planning, leadership, understanding corporate vision and culture, risk-taking, and out-of-the-box thinking.

‘I work well in a fast-paced environment’

 It’s not very likely that an employer will refer to their company as slow-paced. So, it really isn’t necessary to indicate that you can “work in a fast-paced environment.” The term is too general and doesn’t tell the employer about the specific settings in which you’re most experienced, Brockington says.

She suggests that you provide more valuable phrases that talk about competency and completion of tasks such as “implement key time-management skills in high-demand settings” or “able to exceed company expectations by prioritizing tasks and completing assignments ahead of schedule.”

While these phrases might be cliche, Brockington says they can work for or against a job seeker. While there are no set rules on what phrases should and should not be used, it’s important to research the company and the role to see what might work and what should be avoided. Whenever possible, stay away from generic and general terms and always quantify or quality your experience with specific numbers and tangible evidence of your accomplishments.

-Editors’ Note: This article has been updated from its original publish date in 2012



Saturday, June 15, 2019

Still the Most Ignored Demographic: Single, Black Fathers

One of the first articles I ever had published was a feature story I wrote many years ago on growing up with a single, black father. “Oprah doesn’t do stories on single, black dads,” I wrote. I complained about them being an ignored demographic.

To my surprise, I received several letters from black women angered by my article. I recall one stating that the single, black father was the exception, not the norm and why take focus off of black women who so often pull double duty as mother and father while working full time?

Those women deserve support and admiration. Yet, I said then as I say now: Black men with sole custody of their kids, comprise a small yet mighty group that deserves far more attention than received.

A look at the statistics: From the Pew Research center’s data from 2017; 36% of black children under 18-years-old live with married parents; 47% live with single mothers; 7% live with cohabitating partners; and 4% live with single fathers.

I was part of that scant percentage. My father had little-to-no resources when my mother just upped and left him with two pre-teen kids. He worked two, sometimes three jobs to keep paying the mortgage on the house he and my mother had just bought; and to provide for us. Although there was no time or money for vacations I cannot remember ever doing without lights, heat, air conditioning, school supplies, clothes—without any of the basic needs, really.

My father would come home from a two-hour commute every night just in time to make sure we were OK—fed, homework done—and then was back out the door two hours later—on yet another grueling two-hour train ride to his second job. Our lives ran that way for years until we kids were grown.

Still, I think my then-over-taxed father could have benefited with some support. In her book, “The Best Kept Secret: Single Black Fathers,” associate professor of sociology at Marquette University Roberta L. Coles writes that “monies, scholarly research, and public debate have nearly entirely focused on non-custodial fathers or so-called ‘irresponsible fathers’ for which black fathers have become the poster child.”

In her research, which included interviews of single, black fathers, Coles discovered, “African American fathers struggle to extricate themselves from the negative and restrictive cultural baggage that attends the ‘black male’ identity in American society.”

As a child, and even today as an adult, I get defensive about the persistently negative portrayals of black men as fathers as I remember my own and how he did so much to raise us.

So, what is my point? Well, I guess I wish there were more single, black fathers highlighted in media. I wish there were more policies and organizations that advocated for fathers’ rights when the father is the more fit custodial parent.

But, my point is also to highlight the single, black fathers out there this Father’s Day. I remember so well when my father removed the drop leaf that extended our dining room table after my mother left, shrinking it down into a small, encompassing circle. “We were a family of four, now we are a family of three,” he said.

He was right then, and we still are a strong family of three. And Happy Father’s Day to all of the single, black fathers.

CHECK OUT THE 2019 LIST OF BE MODERN MEN —an integrative program that honors the essence, image, and accomplishments of today’s man of color.


The ideas and opinions expressed in this article are solely those of the author’s and not necessarily the opinion of Black Enterprise.

 



6 Steps to Take If a Debt Collector Tries to Sue You

One minute you’re going about your day, not a care in the world. The next, you get a call from a debt collector about a debt you long forgot about. But the nightmare doesn’t end there. Soon after, you discover you’re being sued for the debt.

“Typically, a creditor or collector is going to sue when a debt is very delinquent. Usually it’s when you’re falling at least 120 days, 180 days, or even as long as 190 days behind,” says Gerri Detweiler, personal finance expert for Credit.com, and author of the book Debt Collection Answers.

If you owe a large amount, like several thousand dollars to an individual debt collector, that makes it more likely they’ll want to invest in suing you. They also might choose to sue if the debt is reaching its statute of limitations. “Once the statute of limitations on a debt has expired, depending on state law, they either can’t sue you, or if they sue you, you can show up to court and tell the court that the debt is outside the statute of limitations or it’s too old, and they would lose the lawsuit,” says Detweiler. Sometimes a collector might sue right before the statute of limitations expires, so if they get a judgment against you, they can still collect.

What Should You Do If a Debt Collector Tries to Sue You?

Don’t panic. Stay calm if you receive a legal notice from a debt collector. But don’t ignore the notice and toss it to the side. You have to address the problem because it won’t go away on its own. Without the proper response, the situation will get worse as the collector will try more drastic measures to get their money.

Consult an attorney. You could benefit from consulting a consumer law attorney.  Many attorneys will provide an initial consultation for free, or they might be able to help you prepare for the lawsuit or answer your questions about the lawsuit for a reduced fee. “Bankruptcy attorneys are also familiar with the debt collection lawsuit process. They understand what happens if a collector gets a judgment against you. They’ll also know what property is safe from creditors and what’s not. They can help you understand what the consequences would be if you don’t respond to the lawsuit and you get a judgment,” says Detweiler. The National Association of Consumer Attorneys website allows you to search by area of expertise as well as location.

Be careful about how you respond to debt collectors. Although it’s your right under the Fair Debt Collection Practices Act to write a letter to a debt collector stating you don’t wish to be contacted, this could potentially cause more harm than good. “Sometimes you’ll hear people say you should send a letter to the debt collector stating you don’t want to be contacted anymore. But sometimes sending that letter leaves them with no other option but to sue you because they can’t call you, talk to you, or try to work something out. At that point, especially if the amount is large, the collector will file a lawsuit in order to protect their interest in collecting that debt.” So unless you know for sure you don’t owe the debt and there’s nothing they can go after, use caution when sending this type of letter.

Organize your documents. In order to prove that your debt is past the statute of limitations, if this is the case, have at least your last six months of payment statements before you stopped paying available. “This will show where the statute of limitations should be calculated from,” says Sonya Smith-Valentine, a consumer rights attorney and author of the forthcoming book How to Have a Love Affair with Your Credit Report. Smith-Valentine notes that a credit report by itself is not enough to prove that a debt is past the statute of limitations because the information is not reliable. “The court will also say that the information was prepared by a third party. You need to have information that was provided directly from the creditor, not a third party. A credit report may help as far as throwing the statute of limitations in question, but it might not be enough to automatically win your case.”

Show up for court. “If you don’t show up, the court will probably issue a judgment against you for the amount that the debt collector is suing you for. Consequently, the debt collector can attempt to find out where you work and garnish your wages. They can also attempt to find out where you bank and freeze your bank account,” says Smith-Valentine. Furthermore, the judgment will end up on your credit report for seven years. Even if you pay off the judgment, it doesn’t remove the judgment from the credit report, it just changes how it is reported. Before you pay, the judgment is reported as unsatisfied and unpaid, but even after you pay it, the judgment is reported as paid. “It doesn’t come off just because you paid it,” says Smith-Valentine.

Pay attention to your credit reports. You’ll know if a collector has gotten a judgment against you because it will usually appear on your credit reports. “If you discover you have a judgment against you, that would be the time to talk to a consumer law attorney to see whether you might have some rights in terms of getting that judgment vacated,” says Detweiler.

-Editors’ Note: This article has been updated since its original publish date in 2011



10 Thoughtful (And Free) Father’s Day Gift Ideas

As Father’s Day quickly approaches, many of us are wondering what gift to get dad this year. Barbecue grills, TVs, and golf clubs are great, but sometimes all it takes is a message of appreciation, straight from the heart.While you can purchase a really cool gift (check out the Ultimate Buy Black Father’s Day Gift Guide for some ideas) there are other ways to honor fathers and father figures. These free Father’s Day gift ideas are some creative ways to honor dad.

 

Use your camera to film a short documentary. Ask siblings, kids, and extended family members to share their favorite stories and the best advice they’ve ever received from dad.

Host a Father’s Day Cook-off Competition. Invite family and friends over to recreate some or your dad’s favorite meals. Of course, dad is the judge and chooses the winner.

Create a customized coffee table book. Include family events such as weddings, graduations, and father-daughter-son moments from your childhood.

Sign Dad up for a class. If he’s been talking about learning how to fly a helicopter or paint, find a class and sign him up.

Write a short personal essay or poem. Talk about key events in your childhood or the influence your dad has had on your life. (E.g., 10 Life Lessons I Learned From Dad.)

Build something. Whether it’s a birdhouse, shed, or backyard deck, if your dad loves spending his free time making things, these are all great bonding experiences.

Make a playlist. Pick some of dad’s favorite songs and create a playlist for him. As an added touch, include a few songs that remind you of him and save them to a USB flash drive.

Volunteer in the community.While honoring your dad on Fathers Day, donate your time to helping others who are less fortunate.

Plan a Father’s Day Olympics. If your dad loves sports, a day of competitive activities, such as swimming, a relay race, or even basketball, will make his day.

Spend quality time. Nothing beats quality time with family. Whether it’s spending the day watching movies or barbecuing in the backyard, the memories made are priceless!

 



Why I Hate ‘The Hookup’

The hookup. Are you always looking for it?

Stop me if you’ve heard this one. Richard, a black comedian calls his white friend: “Hey, Chad. Just wanted to let you know: I’ll be in town next week to do a show. Hope you can make it.”

Chad: “Really? That’s great! What night is it? I’ll call all of my friends and we’ll pack the house! It’ll be a blast!”

“Thanks, Chad!,” says Richard. “It’s on Thursday night. I’ll see you then!”

Richard hangs up, excited about the prospect of a big night at the comedy club, which means more gigs. He then he calls his boy, Lamont. (What? You know he’s black. How many white, Asian or Latino guys named Lamont do you know? Try to keep up, okay? Anyway…)

Richard: “Monty-Mont! Whassup? It’s ya boy, Richy-Rich! Just hollerin’ atcha to let you know that I got a gig in town next Thursday. You coming, right?”

Lamont: “Hell, yes, I’m coming! You funny as a mug! Shoot, I’ll bring my girl, and tell her to bring her girls, and I’ll get Antonio and Big Rob and Lisa to come and get the word out to their peeps, too!”

“Cool!,” says Richard. He holds his breath. He knows it’s coming.

“You gonna hook us all up, right?,” says Lamont.

One of the biggest drags on black entrepreneurial growth and profitability is the hookup: black people expecting other black people to provide them with free goods and services just because they’re black. We need to stop it. Today. NOW.

No, she can’t hook you up with a few press releases and some public relations for your event.

No, he can’t hook you up with a few signed copies of his book.

No, he can’t hook you up with a quick shape-up so you can look fly at the club tonight.

No, she can’t hook you and your momma and aunties up with free tickets to the fashion show.

No, she can’t hook up a business plan for you real quick.

No, she can’t deliver the dinner keynote without an honorarium, in return for two tickets at the head table for food she won’t get to eat. Because she’ll be speaking during the dinner.

No, they can’t wash your car, pull your teeth, do your hair, fix your computer, edit your manuscript, paint your house, build your Website, etc. for free! Discount? Maybe. Complimentary services for referring new–paying–customers? Okay. An occasional freebie for long-time, loyal customers who always pay? Sure. Barter my goods or services for yours? We might be able to work something out. But, FREE? NO!

Hello? The point of being in business is to make money! How can entrepreneurs, and black business owners in particular, make money, if they’re expected to give their products and services–which costs them money to create, develop, market and deliver–away for free? How can they proper if everyone wants the hookup?

If you don’t spend money with them, they can’t spend their money with you. If you won’t pay for your haircut, your barber can’t pay to eat at your restaurant. If Leslie the auto dealer won’t pay a competitive rate for wedding planning, Lisa the wedding planner can’t afford to buy a car from Leslie. Money has to circulate in order for economic empowerment to happen and for black entrepreneurs to have a chance to compete and thrive. You don’t support black entrepreneurs by showing up for the hookup. You support black business by paying up.

When I find a black entrepreneur or professional who provides goods and services I like, I pay for those goods and services–period. I know that there are costs associated with providing a service and making a product, a cost they can only recoup by selling at a profit. I don’t want them to hook me up with free stuff. I want to hook them up with my spending, because then they can really hook me up, by creating jobs, growing the local tax base, supporting community organizations, doing business with other black entrepreneurs and professionals–or just having enough money and a predisposition to reciprocate, to buy goods and services (such as a registration for a Black Enterprise event) from me and mine. I want black enterpreneurs to make money. I want them to succeed. I want them to get more than rich. I want to see as many wealthy black entrepreneurs, families and communities as possible. So if I like what they’re selling, I’m more than happy–I’m thrilled–to pay for it, and to tell all of my family, friends and associates how great they are. That’s the hookup we should all be striving for.

Do you really want to support black entrepreneurs and black professionals? Stop hitting them up for the hookup. If you believe in their products and services, pay for them, as you would for the products and services of any other business. If what they’re selling doesn’t merit that, why are you patronizing them in the first place? Do you really think you’re doing them–or yourself–a favor?


Steve KingThe ideas and opinions expressed in this article are solely those of the author’s and not necessarily the opinion of Black Enterprise.



Wednesday, June 12, 2019

5 Marketing Outreach Tips for Entrepreneurs In 2019

If you are a small business owner committed to increasing revenue, developing marketing outreach campaigns is critical. What is marketing outreach? It’s a purposeful strategy to reach your target audience/market and bring awareness to that audience of the value of your product or services.

How quickly your small business grows is directly related to the effort you put into planning and executing audience outreach. There are a number of brand development and customer acquisition plans you should have in place for maximum business growth this year.

Tips for Successful Marketing Outreach Campaigns

 

Search Engine Marketing

One of the first outreach campaigns every small business owner should plan is their search engine marketing campaign. SEO (search engine optimization) is essential for long-term business survival. Everything from voice SEO (to take advantage of voice-activated searches) to image description, SEO should be integrated into your search engine marketing strategy.

Mobile Marketing

Mobile marketing is another vital element small business owners should focus their efforts on for maximum impact. A growing number of consumers are going mobile-only with their smartphone becoming their only means of accessing the internet. If you hope to attract mobile-enabled consumers to your small business, it is imperative you develop a detailed mobile marketing strategy for your company.

Content Marketing

Small business content marketing is no longer optional. If you are not creating engaging and helpful content for your small business, prepare to lose sales to savvier competitors who understand the power and potential of content creation. Make sure your content marketing strategy contains everything from text-based content to visual marketing options like video and infographics.

Landing Page Marketing

Landing pages are a powerful tool for small business owners wanting to increase their company’s conversion rates. Consider integrating landing page optimization into multiple aspects of your small business including e-commerce sales and social media marketing. Creating landing pages for customer outreach campaigns can significantly increase your conversion rate and increase your profits at the same time.

Social Media Marketing

Speaking of social media marketing, how you develop your small business social networking strategy is essential for increased growth rates. Understand who your target customers are, which social networks they use, and how they prefer to be marketed to on social media. Create a cohesive social media marketing plan for your small business and you’ll be amazed at how easy it is to convert social media connections into paying customers for your small business.

Focus your efforts on these five marketing outreach tips for small business owners and you’ll be impressed at the ROI (return on investment) of your campaigns. Building a successful and profitable small business isn’t easy, but the rewards are definitely worth the effort when you turn your dream into a thriving company of your own.

 



Sunday, June 9, 2019

10 Black Business Leaders You Ought to Know (And Meet at BE’s All-New, Upcoming FWD Event!)

Entrepreneurs assemble! In 10 days, BLACK ENTERPRISE will unveil what promises to be our most powerful, impactful business conference yet – FWD (for ‘FORWARD’). And at the event will be 10 black business leaders who represent some of the most successful, influential business leaders on the planet. Following their guidance and connecting with them at FWD may result in multi-fold growth in customers, market share and revenues

FWDOur team has developed this event, which will be held at the Charlotte, North Carolina Convention Center from June 19 – 22, as a forum for instruction, inspiration and connection for businesses at every life cycle, from side hustles to second-generation enterprises. You will access the roadmap – including financing and certification – to successfully LAUNCH your venture. You will discover how to design strategic partnerships and scale-up strategies to GROW your business. You will learn the value of applying AI, VR and 5G and other tech tools to INNOVATE your company NOW!

One of BE’s event trademarks has been our exciting line-up of high-profile speakers – and FWD is no exception. This year you will hear success secrets from Isiah Thomas, former NBA Hall of Famer who serves as Chairman & CEO of Isiah International; Wendy Williams, the daytime talk show host who operates Wendy Inc., her diversified holding company; John Henry, partner of venture firm Harlem Capital and Viceland’s reality TV show, Hustle; Judge Glenda Hatchett, long-time television personality and founder of The Hatchett Firm; Ryan Leslie, Grammy-nominated artist and producer and creator of SuperPhone; Angela Simmons, a reality TV star known for being one of Rev. Run’s daughters who has grown into a successful entrepreneur and philanthropist in her own right; Malinda Williams, actress of Soul Food fame who along with tech maven Tariq M. Walker designed travel destination platform This Is Leaving; and Karen Civil, one of the nation’s top social media marketers/influencers.

Check out the profiles of 10 black business leaders who will be speaking at FWD – and go to our FWD Speakers Page to discover more entrepreneurial standouts.

 

10 Black Business Leaders You Ought to Know

 

Evens Charles, President & CEO

10 black business leaders

At the age of 25, Charles executed his first small transaction that required an out-of-pocket investment of $1,000 resulting in a $25,000 profit six months later. Today, he operates Frontier Development and Hospitality Group, one of the nation’s largest black-owned businesses with annual gross revenues of more than $50 million. As such, he controls a BE 100s company with a hotel portfolio of Marriott, Hilton and IHG hotels in urban and secondary markets such as Atlanta, Nashville, Tennessee, Columbus, Ohio, and the Washington, D.C – Baltimore corridor that’s worth more than $200 million. For entrepreneurs with a specific interest in real estate development, property management and hotel franchising, his session on “Open House! Turning Property into Profit” is a must-attend BE Talk.

 

 

Cheryl McKissack Daniel, President & CEO, McKissack & McKissack

10 black business leaders

McKissack Daniel is a civil engineer by training who comes from a long line of architects and builders and today runs a 114-year-old family business. She has grown this BE 100s company into a powerhouse in the construction industry that’s involved with some of New York’s largest projects including JFK Terminal One; LaGuardia Airport’s Central Terminal building redevelopment; Pacific Park/ Atlantic Yards Barclays Center and two of the city’s iconic African American-oriented landmarks, MART125 Cultural Center and The Studio Museum in Harlem. To learn more about general contracting as well as the longevity of multigenerational companies, FWD attendees should meet and listen to McKissack during her panel session, “Why You Need a Succession Plan.”

 

 

Mahisha Dellinger, Founder & CEO, CURLS Beauty Brands

10 black business leaders

Dellinger realized the need for products for her curly hair and transformed that desire into a multimillion dollar business. After leaving her post as Marketing Manager at Intel Corp., she developed the line of organic haircare products and gained shelf space at retailers such as Target, Sally Beauty, Rite Aid, Walgreens, Walmart and CVS over the past decade. As such, she lists Halle Berry, Alicia Keys, Issa Rae, Nia Long, Tia Mowry and Blair Underwood among her celebrity customers. She has used her success as a platform to inspire other entrepreneurs of color through conference and media appearances as well as her OWN Network television show, Mind Your Business with Mahisha. She will share her vital, business-building tips on the FWD Panel, “Growing Pains: How to Achieve Scale.”

 

 

Ash Cash Exantus, CEO, MindRight Money Management

10 black business leaders

This 15-year banking veteran, motivational speaker and best-selling author helps clients get on the wealth-building track through his financial education and media company, MindRight Money Management. He enables them to achieve their life goals by blending psychology and personal finance with music, pop culture and relevant news. He also delivers his message of fiscal responsibility, entrepreneurship and wealth empowerment as a regular speaker at national conferences as well as host of his eponymous radio program, The Ash Cash Show, which has a current reach of 2.2 million listeners. He will share his powerful message on the panel, “Solopreneurs: How to Set Up and Run a Business on Your Own.”

 

 

Charis Jones, Owner, Sassy Jones Boutique

10 black business leaders

Jones created an award-winning accessories brand deeply rooted in the belief of helping women feel confident about themselves. Leaving her position as a top-ranking corporate sales professional, Jones has built Sassy Jones into a multimillion dollar accessories brand in just two years. The key to her whirlwind success: Using digital technology to bolster relationships with her female clientele and showcase hand-crafted, global creations of women artisans. FWD attendees should find out more about her customer-engaging marketing strategies at her session, “e-Commerce: Global Reach Through Your Smartphone.”

 

 

 

Damian Mills, President & CEO, Mills Automotive Group

10 black business leaders

Mills started in the auto industry in 1992 as a salesperson while attending North Carolina A&T State University. Today, at 46, he’s one of the youngest innovators and most successful African American auto dealers in the nation. With 13 franchises in three states, Mills Auto Group has consistently been among the top five dealers on the ‘BE Auto 40’–BLACK ENTERPRISE’s yearly list of the largest black-owned businesses in the auto industry–and represents one of the largest black-owned businesses in the Charlotte metro area. Fittingly, he will receive the BE Auto Dealer of the Year Award at the event-capping Entrepreneurs Awards Gala.

 

 

 

Monique Idlett Mosley, Founder & Managing Partner, Reign Venture Capital

10 black business leaders

Mosley operates an early-stage investment firm that focuses on women and minority-led startups. Prior to becoming a VC, she served as CEO of Mosley Brands and Mosley Music Group, home to a multi-platinum roster of artists, including the iconic producer Timbaland, One Republic and Nelly Furtado, among others. Hear her BE Talk on “The Art of Collaboration.”

 

 

 

 

Michael Thompson, President & CEO, Fair Oaks Farms, LLC

10 black business leaders

Thompson, a corporate food services management veteran, has elevated Fair Oaks Farms into the nation’s largest minority-owned meat producer. The company is the considered the “gold standard” supplier of pre-cooked sausage, bacon, and other meat and poultry products for some of the world’s leading restaurant chains and retail companies, including McDonald’s and Walmart. Under his guidance, revenues have increased more than 300% and staffing has grown threefold, from 100 to nearly 300 employees. Particularly for those FWD attendees who aspire to build or expand eateries, distributors and manufacturers within the sector, you will be captivated by his participation on the “Delicious Dollars: Building a Food Business” panel as well as Fair Oaks Farms recognition as the BE 100s Company of the Year.

 

 

Adrienne Trimble, President & CEO, National Minority Supplier Development Council (NMSDC)

10 black business leaders

Every attendee should try to connect with Trimble, who runs this leading supplier diversity and inclusion organization that matches more than 12,000 certified minority-owned businesses to its network of 1,750-plus corporate members. A known thought leader for advancing corporate diversity, equity and inclusion initiatives, she has served as General Manager, Diversity & Inclusion at Toyota Motor North America. During her tenure at the automaker, she led its supplier diversity program from 2005 – 2012 and grew its diverse vendor base to reflect more than a 300% increase in total spend, topping nearly $3 billion. Who better that Trimble to discuss how to “Get Your Piece of the Billion-Dollar Pie” with leading supplier diversity managers.

 

 

 

Willie Woods. President & Managing Director, ICV Partners

10 black business leaders

Woods is the co-founder of this top-notch BE Private Equity Firm with $1.4 billion in capital under management. For close to 20 years, ICV has built its reputation for stellar management and growth by acquiring a range of lower middle-market companies in sectors as diverse as healthcare, food production and business services. Moreover, it has played a critical role in diversifying high finance through its recruitment of  African American Wall Street professionals and corporate managers who have proven adroit at maximizing the value of portfolio companies to produce superior returns. Attend Woods’ session on “The Art of Uncovering Alternative Finance” to discover different ways to raise capital for your business as well as join our salute to ICV as the 2019 BE Financial Services Company of the Year.

 

Learn more about FWD speakers and sessions that will boost your business at the BLACK ENTERPRISE FWD conference in Charlotte, North Carolina; June 19-22, 2019 at the Charlotte Convention Center in Charlotte, NC. 

Register for FWD today!

 



Saturday, June 8, 2019

Rico Love Gets Passionate About Music, Entrepreneurship, and Values

Behind Rico Love is a creative, visionary and music industry educator that has produced, written, and contributed to hit records including Usher’s “There Goes My Baby,” Nelly’s “Just a Dream,” Trey Songz “Heart Attack,” Kelly Rowland’s “Motivation” feat Lil’ Wayne, and Beyoncé’s “Sweet Dreams.” He has also contributed to Grammy-winning works such as Beyoncé’s 2009 Best Contemporary R&B album “I Am… Sasha Fierce.”

Rico Love’s body of work is extensive. However, not only does he work as both a producer and artist within the ever-changing landscape of the music industry; he also invests in technologies that provide a greater platform for artist discovery and creativity. 

In an interview, Love spoke about the music industry, creating financial opportunities, and gives advice to young creatives.

Black Enterprise: How do you see yourself evolving as a veteran in the music landscape that exists today?

Rico Love: I am now 36-years-old, which is a dinosaur in the music industry, but I’ve been in the game since I was 17 years old. At first, you are bothered by how easily accessible things have become. When you get past the initial annoyance of the change, you adjust. I have been able to create different platforms for myself where I can add value. This includes adding value to myself through the creation of content for others, developing platforms for emerging artists, and also developing this with a financial strategy in play.   

Financially, how are you able to set yourself apart to either create or take advantage of opportunities when presented? 

I went through some of the most challenging financial times of my life because of my value system and unwillingness to compromise on my principles for a dollar. It’s about having the willingness and smarts and being open-minded to recognize what is a good opportunity and what is not. Even more important is building your brand to be strong enough to fit in many rooms. I can fit in the streets, in Hollywood, and corporate because I can articulate myself in all three parameters. I do not limit myself, but I don’t spread myself so wide that I alienate myself from being able to gain financially. 

Why is community currency important, and as a musician why must you connect and have a genuine appreciation for the communities that support you?

I am who I am. I don’t place a level of importance on things that I do in the sense that I don’t have to tell myself to do things for the community. It is who I am so it is already important for me to do things in the community. The value and substance of who you are is a natural thing. It can’t be coached up.  

What are you working on in the world of tech?

There is something I have in the works that allow creatives to create and build records the same way people create via Twitter or Instagram. A quick form transfer file that allows collaboration between creatives. For example, I start a loop and post it—someone else can join in on the creative process. if a piano player goes to my page they can add a melody to the loop. Musicians are able to watch and join in on the session and create a whole track real time. 

What are three key pieces of advice for young creatives?

  • If you want to do something and you are willing to do it for 10 years for free then that is what you truly want. if you see someone doing something and you see it as a quick way to make money then it is not your passion. Stop focusing on simply trying to get a dollar because even if you become successful you are still pushing the culture back. 
  • Elevate yourself and stop looking for people to validate you and elevate you. Create something people cannot refuse. Stop telling people what you need and starting being what they need. When you become what they need you do not have to ask people for anything. 
  • Who are you? People do everything else in the world and try to figure everything else out but never define who they are. Figure out and discover who you are as an artist, as a person, and as a brand. Once you discover this, remain true to your core value and belief system and do not compromise this. 

Black Enterprise Contributors Network 



Wednesday, June 5, 2019

Attacking The 2% Problem: Black Male Teacher Recruitment

Now that school is out, teacher recruitment is kicking in. We all know that you can’t teach all students the same right? Well, guess what? Not only can we not teach all students the same, but we also need to have the right teachers in front of our students in the classroom. We have powerful sisters in the classroom, but a scarcity of black male teachers.

So, what does this mean? What role models do we have for our students? Our African American student populations need powerful black male role models to lead by example and guide them to successful lives to shut down the pipeline to prison.

The current buzzword phrase is “diversity and inclusion.” But, how are schools or districts adhering to this goal without representation in the classroom? Fifty-one percent of the kids sitting in the seats in classrooms are minority students. Eighty-two percent of the teachers teaching them are Caucasian teachers.

Without black teachers in the classroom to teach black students, many negative factors come into play. Black students are less apt to see college graduation. They are less prone to enroll in Pre-AP, AP, or gifted courses. They are expected to do less from those that don’t look like them.

Only 2% of educators in the classroom are black males and 2% are Hispanic males. There is a racial gap that needs to be addressed here. Districts need to hire the population being served. Teachers need more culturally-relevant training and awareness. More males need to be hired as the industry is comprised of 23% males in a female-dominated field.

One black teacher in 3rd through 5th grades reduces a black student’s probability of dropping out of high school by 30%.

Recently, I worked with a student at a charter school in Dallas on Algebra. When the STARR results came out recently here in Texas, I advised this student that she passed. The entire time I was working with her, she thought she wouldn’t pass (and at times had an attitude when I was trying to help.) Upon the great news, she said, “Wow, I passed? I’m going to cry. You are kidding right?”

As a matter of fact, all the black students in Algebra 1 that I and the teacher worked with, passed the test. This particular young woman was the only black girl in her sixth grade and she struggled.

According to a report in The Chicago Tribune, the University of Illinois at Chicago will invest about $1 million in an initiative to recruit and train male elementary education majors of color, similar to how universities recruit and train star athletes.

There are about 575 black male public elementary school teachers in Illinois—roughly 1% of the total—and the number who are Hispanic and male is even smaller, at approximately 465. Black students with black teachers were suspended less often than black students with white or Hispanic teachers. Black students were three times more likely to be assigned to gifted programs when taught by a black teacher than a non-black teacher. In addition, having one black teacher in early elementary grades led to greater expression of interest in college by African American boys and raised the proportion of black students taking a college entrance exam by 10%.

Solutions for Recruiting More Black Male Teachers

  • Hire male educators of color for elementary school education
  • The Call Me MISTER program in Chicago, Clemson, and other schools (Mentors Instructing Students Toward Effective Role Models). Each person admitted to the program receives a full scholarship covering tuition and room and board for becoming an elementary education major
  • Hire millennial black male educators who can relate to students.
  • Increase teacher retention by ensuring teachers are heard by school administrators when addressing issues. Teachers are normally unhappy with school administration, teaching assignments and accountability/testing. Better relationships with administration, getting teachers in front of schools that make sense for them, and reducing the accountability/testing strain will increase retention immensely.

The journey may be long, but getting the right people on the right bus going the same direction is key to the success of our minority teachers and black and brown students.

The ideas and opinions expressed in this article are solely those of the author’s and not necessarily the opinion of Black Enterprise.

 

 


Black Enterprise Contributors Network 

 

 



Saturday, June 1, 2019

Apply Now For $1 Million in Minority Business Funding

MEDA, (Metropolitan Economic Development Association), a nonprofit organization dedicated to helping minority businesses succeed, has opened up applications for its second year of the Million Dollar Challenge for Minority Entrepreneurs. The Million Dollar Challenge is awarding $1 million in funding to minority businesses from across the nation.

During its inaugural year, the Million Dollar Challenge resulted in nine minority businesses from four states receiving financial awards, totaling nearly $1.5 million.

“Meda’s Million Dollar Challenge brings so much to the table for entrepreneurs of color: highlighting their innovation and creativity, attracting more equity and capital investments, and accelerating business growth,” said Gary Cunningham, President and CEO of Meda. “The impact of uplifting minority entrepreneurs goes far beyond the bounds of the individual and is a proven strategy for creating jobs and boosting economic development. When we support minority entrepreneurs, we support all – and we are proud to bring the Million Dollar Challenge back for a second year to continue that impact on a national level.”

Minority business owners often lack access to capital to start and grow their businesses. A 2017 study from the National Bureau of Economic Research found that from 1990- 2016, minority entrepreneurs only represented approximately 20% of entrepreneurs funded by venture capital. Plus, according to a 2017 report by the Minority Business Development Agency, loan denial rates were three times higher for minority firms with gross receipts under $500,000 and about twice as high for minority firms with greater revenues.

Meda services include business consulting, financing solutions and corporate and government opportunities, such as contracts and funding opportunities. Since its inception in 1971, Meda has assisted over 20,500 minority entrepreneurs and helped start over 500 minority-owned, small businesses.

The “Shark Tank” style pitch competition includes a speed-pitching event, Meda’s Boot Camp for Successful Pitches, and a final live pitch and awards ceremony. All for-profit minority-owned businesses in the United States are encouraged to apply.

Applications opened on May 15, 2019 and close on June 13, 2019. Semifinals will take place in July and the Final pitch event will coincide with Twin Cities Startup Week in October.

To apply, click here.



Thursday, May 30, 2019

Entrepreneurs: There is One Benefit You Must Offer to Attract and Keep Top Employees

In multiple polls and reports, small businesses have cited finding, hiring, and keeping qualified workers among their biggest operating obstacles in recent years. To help divert that challenge, 19% of small businesses now are most likely to grant employees paid time off (PTO).

That perk leads the list of new benefits small businesses plan to offer for the first time in 2019, reveals a new survey from Clutch. Health benefits (15%) and retirement benefits (11%) are among other leading benefits smaller business plan to offer.

Small businesses should plan to expand their benefits offerings in 2019 given the competition from their rivals and the significant return on investment an effective benefits package provides, Clutch maintains. Providing the new benefits can help reduce employee turnover, the Washington, D.C.-based ratings and review firm reported.

All told, 56% of small businesses plan to offer new benefits to their employees in 2019. Clutch surveyed 529 small business owners or managers to learn about employee benefits plans for this year.

Around (11%) of small businesses are considering offering family leave, and 8% plan to introduce student loan repayment.

Benefits that will most effectively attract new job candidates and reduce turnover are perks small business should offer, Clutch says. Bethany Holliday, director of human resources for Cornerstone Insurance Group & Employer Solutions, explained in a news release that paying for benefits that retain employees is often less than the cost of recruiting and training new employees.

“The last thing you want [employees] to do is walk out the door,” she said. “It costs a whole lot less to keep people happy than it does to try and find new people.” Cornerstone Insurance Group & Employer Solutions is an employee benefit and business insurance firm.

Small businesses are more likely to lure and retain talent by designing their PTO policies with employees’ needs in mind. Holliday contends PTO is a perk that employees increasingly expect to earn immediately.

“We still have clients that are making employees wait an entire year before they’re eligible for any sort of PTO,” Holliday said. “I keep trying to transition [clients] out of that because that’s a very antiquated way of thinking.”

Companies with substandard or antiquated PTO policies will struggle to entice and retain top talent, Clutch reports. Some 45% of small businesses already offer employees PTO. However, Clutch claims not enough of small businesses are offering the perk.

So why are new benefits being provided? Thirty percent of small businesses offering new benefits are doing so to fulfill employee requests, while 27% are aiming to improve morale and keep workers. Just 13% of small businesses are issuing new benefits because they are required by law or as a direct result of union negotiations (9%).

“We kind of shifted from paying a lot to now offering a lot of benefits,” said Christopher Willatt, founder and owner of AlpineMaids, a home cleaning service, stated in a news release. “HR is really geared toward convincing our employees that this is a great job and doing everything to retain them.”

Interestingly, Clutch found that 30% of small businesses don’t have formalized HR resources, such as an in-house HR staff, outsourced HR functions, or a contract with an HR consultant.

Of firms without dedicated HR resources, only 10% offer benefits to their employees. In contrast, 64% of companies with HR resources offer benefits to their employees.

The bottom line is it’s critical that small businesses are ready to meet employee benefits requests to attract and retain a talented workforce, Clutch says.

Check out Clutch’s full report. 



Lonnie Bunch to Become the First African American to Lead the Smithsonian Institution

Lonnie G. Bunch, III, has been named the 14th Secretary of the Smithsonian, making him both the first African American and historian to lead the world’s largest museum. The Smithsonian Institution’s Board of Regents announced on May 21 that Bunch will serve as the institution’s new leader, where he will oversee the organization’s 19 museums and complexes, along with the National Zoo. His appointment is effective June 16.

“I am humbled and honored to become the 14th Secretary of the Smithsonian Institution,” Bunch said in a press release. “I am excited to work with the Board of Regents and my colleagues throughout the Institution to build upon its legacy and to ensure that the Smithsonian will be even more relevant and more meaningful and reach more people in the future.”

Bunch is the founding director of the National Museum of African American History and Culture (NAAMHC), which opened in September 2016 with a grand three-day ceremony that was attended by Oprah Winfrey, Will Smith, the Obamas, and BLACK ENTERPRISE SVP/Editor-in-Chief Derek T. Dingle. The NAAMHC will begin a search for a successor.

“Lonnie Bunch guided, from concept to completion, the complex effort to build the premier museum celebrating African American achievements,” said U.S. Supreme Court Chief Justice John Roberts, a Smithsonian Chancellor, in a statement. “I look forward to working with him as we approach the Smithsonian’s 175th anniversary to increase its relevance and role as a beloved American institution and public trust.”

In an interview with SiriusXM Host Joe Madison, Bunch stated that the Smithsonian needs to focus on incorporating more diversity. “I hope just my presence signals it, but the Smithsonian needs to do a better job of diversity and inclusion. It’s got to make sure that all of the staff represents America; all the exhibitions represent the diversity of America; so I want to make sure that in essence, the Smithsonian becomes the model of what museums should be.”

Over the course of his three-decade career in the museum field, Bunch has become recognized as one of the nation’s leading figures in the historical and museum community. In addition to establishing the NAAMHC, he held director-level positions at the Smithsonian’s National Museum of Air and Space and the National Museum of American History. The scholar is also the author of more than a dozen books on history, race, and museum scholarship.

Back in 2017, Bunch was honored at BE’s inaugural Black Men Xcel summit. During his acceptance speech, he paid homage to his ancestors and referenced “[black] men who were called boys, but they were called boys so that we could be called congressmen, CEO, president.”



Justin Key: A Limitless Mindset of Servant Leadership

BE Modern Man: Justin Key

Actor, author of Mind Control, entrepreneur and speaker, 34, Founder of Mindset Mgmt Group

Twitter: @JustinKey101; Instagram: @JustinKey101

As a child growing up, my imagination was limitless. Some people told me I needed to scale down on what I wanted to do and become. I thought to myself, if I’m created in the image of God, then why limit myself? That seemed disrespectful to the potential given to me. So I decided to adopt a limitless mindset to become everything I’ve always wanted. Currently, I’m cast in a new digital series produced by Google called God ComplX where I play a techie, and I use my degree in mathematics (and personality) to travel, educate, and encourage minority students on the benefits of STEM careers. I launched my consulting firm, Mindset Mgmt Group, to help other creatives and entrepreneurs excel in their careers, and instead of thinking outside of the box to get rid of the box altogether. Lastly, I published my first book, called Mind Control: Change The Way You Think So You Can Have A Limitless Life, to help inform others about how to have a limitless mindset as well.

HOW HAVE YOU TURNED STRUGGLE INTO SUCCESS?

I was raised on my grandparents’ farm in Tennessee, and lived in a two-bedroom trailer with my eight siblings. My mom worked tirelessly to provide for us and many times we went without because we did not have it and could not afford it. Instead of becoming bitter about the situation, I became the first in my family to graduate from college and then go on to get my masters. I now use my education, resources, and connections in Hollywood and business to provide resources to those in my hometown of Rossville, Tennessee, and Memphis as well as Los Angeles to create opportunities that I see are needed.

WHO WAS YOUR GREATEST MALE ROLE MODEL AND WHAT DID YOU LEARN FROM HIM?

My greatest male role model was my granddad Simmie Rosser. He had to drop out of elementary school to work in the fields, and then later was drafted into the army. Granddad’s spirit never wavered. He would go on to start a family, buy property (that we still own to this day) and raise his children and grandchildren to be the best they could be despite economic and systematic circumstances. His relationship with God inspired mine; his love for education motivated me to go to college; and his gifted sense of numbers instilled in me a passion for mathematics — the subject in which I received my first degree.

WHAT’S THE BEST ADVICE YOU’VE EVER RECEIVED?

It’s the foundation of my limitless mindset: Never put limits on the grace that God has on your life.

WHAT PRACTICES, TOOLS, BOOKS, ETC. DO YOU RELY ON FOR SUCCESS?

I’m an avid reader and now a published author after being inspired by three books in particular. The three books that changed my life and altered the course of my success were: Never Eat Alone by Keith Ferrazzi, The Go-Giver by Bob Burg and John David Mann, and The Entrepreneur Mind by Kevin D. Johnson. Two of the mental practices of a limitless mindset I consider law are: There is enough success for everyone and the Golden Rule, treat people the way you want to be treated.

HOW DO YOU DEFINE MANHOOD?

I define manhood as the pursuit of knowledge, character development and elevation of self to be the most effective servant-leader of family and the local and global community.

WHAT DO YOU LIKE MOST ABOUT BEING A BLACK MAN?

Is this a trick question? I love everything about being a Black man. Every day is like watching Marvel’s Black Panther in theaters for the very first time.



Marcell Pickens Jr.: Photographer and Filmmaker Gives Entrepreneurs The Star Treatment

BE Modern Man: Marcell Pickens Jr.

Photographer and filmmaker, small business advocate, 37

Twitter: @TheFilmmarketer; Instagram: @TheFilmmarketer

A few years ago, I was inspired after reading about Black Wall Street and the level of success that African Americans were able to achieve in Tulsa, Oklahoma. Simultaneously, I became baffled by our inability to recreate the same level of success after almost 100 years. I immediately knew that I had to do my part but I didn’t know exactly how or by what means. I created Blachwood L.L.C., which pays homage to Black Wall Street by combining the Black Wall Street and Greenwood Ave [that community’s main thoroughfare] to serve as a reminder of the purpose of the company. Even after the name was established, I still didn’t know how to serve our community with maximum impact. I researched and found great movements that encouraged our community to buy black and keep black dollars circulating in our communities; however, I knew that wasn’t my lane.

For over 11 years I have practiced professional photography and commercial making for small and big businesses. As a small business photographer and filmmaker, or filmmarketer, I’ve shot hundreds of weddings and events and have created videos that helped small businesses grow their awareness and increase their profits. After seeing the impact my work was having toward the success of individuals and businesses, I realized my lane was with my talents. We then created the Blachwood Small Business Marketing Tour. This tour was designed to bring “Big Business” photography and video to small businesses at an affordable price. I fervently believe that one of the reasons small businesses in our community fail is because of a lack of exposure. With that being said, not many small businesses can afford $3,000 photo shoots and $5,000 commercials. The Blachwood tour gives small businesses in select cities access to necessary resources to help them get their message out there. We’ve designed an amazing package that includes both video and photography to really help catapult their businesses to another level. I’m extremely proud of the model and the impact it has had so far.

WHAT ARE YOU MOST PROUD OF IN LIFE?

I am most proud of my family: my wife of 12 years Evvett, two beautiful children Isabella Skye and Maxwell Cree and our golden doodle, Tucker. Success isn’t much without balance. My family unit represents balance, purpose, and legacy.

HOW HAVE YOU TURNED STRUGGLE INTO SUCCESS?

Honestly, I believe that one of my biggest struggles in life has been failing to listen to my inner spirit and following my own purpose early on. I remember being told in high school, “You are great in math; you should become an engineer.” For this very reason I decided to earn a mechanical engineering degree; all the while my heart leaned toward creativity.

In our community, we are taught to pursue high-paying careers regardless of our talents because it’s safe. Don’t get me wrong; this is sound advice, but the reality is that this type of advice stems from a history of struggle and is passed down from generation to generation. I struggled with the expectations of my elders and the direction my inner spirit was guiding me toward. I have since found peace in my experience as an engineer but have become alive in my experience as a photographer and filmmaker.

WHO WAS YOUR GREATEST MALE ROLE MODEL AND WHAT DID YOU LEARN FROM HIM?

Dr. Decatur B. Rogers was the meanest man I had ever met, or so I thought. Dr. Rogers was the Dean and Professor of Mechanical Engineering at Tennessee State University. It wasn’t until I began to do the impossible in my studies that I realized he wasn’t mean, but he understood that without hard work, dedication, and discipline, success was not attainable. Dr. Rogers demanded all of these traits out of me and ever since then, my commitment to success has been unstoppable.

HOW DO YOU DEFINE MANHOOD?

I define manhood as staying true to your responsibilities, standing strong in the face of adversity, being courageous during difficult moments, having the audacity to pursue your purpose, and finally accepting that the life you live is for the benefit of those who succeed you.

WHAT DO YOU LIKE MOST ABOUT BEING A BLACK MAN?

Society often perpetuates a negative image of black men. However, when a black man achieves a certain level of success, his accomplishments are resounding and undeniable. Although we often play by a different set of rules, I welcome the challenge of being an example to younger black men and proving that we are not who society says we are, and that our melanin is far more valuable than gold.

Proverbs 23:7 is one of my favorites: “As a man thinketh in his heart, so is he.” I meet so many men who begin to think and believe what society says about them, so they then become just that. I would be remiss if I did not take this opportunity to encourage anyone, specifically black men, reading this by declaring and affirming that you are more than your failures. Fail forward and never give up. Listen to your inner self, hone and perfect your craft and eventually, mountains will begin to move.



Rappers Chamillionaire and E-40 Are Looking to Invest $25,000 in a Minority-Owned Startup

Earlier this year, Hakeem Seriki, a Grammy-winning hip hop artist, entrepreneur, and angel investor better known as Chamillionaire, launched a contest for black-founded start-ups and invested $10,000 in the winner. Now, the stakes are higher for round two. He, along with West Coast rapper and investor Earl “E-40” Stevens, and the equity investing platform Republic have teamed up to award a minority and/or women-founded startup with a $25,000 investment. The contest was announced on Convoz, an app and social video conversation platform that Chamillionaire launched last year.

In terms of Venture Capital investment, Caucasians make up 87% of VC-backed CEO’s and 97% of those positions are held by men. Chamillionaire and his celebrity friends, however, are working to change that. 

“I think there is a lack of diversity in the industry,” Chamillionaire told Yahoo! Finance when asked why founders of color aren’t getting financed. “Now that I’m here, I see that there is a certain type of founder that gets funding from these companies and I understand that people tend to spend money on things that they’re comfortable with so when you’re used to seeing somebody like Mark Zuckerburg walk in the door and you have an example of Marck Zuckerburg being successful then, of course, it’s more likely for you to spend money on investing in a startup like that.”

There’s no surprise that Chamillionaire teamed up with Republic for his new initiative. The rapper has been in the investment space for years and has championed the inclusion of more minorities in the tech and investing world. That mission makes Republic the perfect partner since the platform is built on the ethos of equalization of the fundraising landscape. Republic was created for startups to raise capital, giving the opportunity for everyone to invest. 

The deadline for submitting your investment pitch is June 15 and the winner will be announced June 21. To enter the competition, download the Convoz app for iOS or Android.

 



Your “Employer Brand” Online Presence Is More Important Than You Think

It’s essential to share your brand with people who will potentially purchase your goods and services. However, whether you operate a small or large business, you cannot succeed, grow, or thrive if potential customers cannot get a sense of who you are, what you offer, and why it is of benefit to them. Forbes now reports that nearly 25% of consumers admittedly declined to give business to a company based on negative employee feedback they read online. This shows that your employer brand is just as important as your consumer brand.

What is Employer Branding?

An employer’s brand is made up of what a company communicates to potential employees and current employees about its mission, vision, values, and culture. Just like the customer-facing brand, the employer brand should communicate the company’s value proposition and personality as it relates to the people who work there. If you don’t control your online employer brand message, someone else will. And that someone could be disgruntled former (and sometimes current) employees.

Sites like Glassdoor, Indeed, Kununu and FairyGodBoss allow current and former employees to post anonymous reviews about your company. Eighty-five percent of recruiting experts encourage job seekers to review these pages in making decisions about where to apply for and accept work. A 2018 study showed 33% of women and people of color opt out of applying or accepting a job when the company’s employer review scores were low or the profiles appeared unmanaged. This means online employer reviews are having a direct impact on your company’s ability to recruit and retain diverse talent.

The Effects of a Poor Employer Brand 

Without an employer brand presence, potential new hires will sense and see a lack of authenticity and either choose not to apply or reject your job offers. They will not know what your organization stands for and what their future path could look like while working there. Morale and retention with current employees will also suffer as they will feel embarrassed to rep your company and may leave to work somewhere with a better reputation. Plus, your growth and profitability will take a hit as consumers choose to spend their money with companies who have a better or more clear online image. Furthermore, when your online employer brand is ignored, your employees, potential employees, and consumers may feel confused about your overall brand integrity.

How To Cultivate Your Employer Brand Online

  1. Get social. This seems like an obvious tip for managing your online employer brand. However, many companies leave their online brand in the hands of the employer review sites. Don’t leave your online reputation solely in the hands of someone else. Instead, set up social media accounts on the major platforms (Facebook, Twitter, Instagram, and YouTube) and regularly share updates about what’s going on inside your organization for your employees, applicants, and consumers to see. Depending on the size of your company and your brand needs, these accounts may need to be separate from your product-related, consumer-facing accounts.
  2. Claim your profiles. Reach out to the employer review sites to set up administrator access to your company’s profile. With administrator access, you can share specific information about your company — including its history, pay philosophy, benefits, and perks. Claiming your profile also gives you the ability to respond to the feedback posted about you. There may be some fees for this depending on how much access and control you want.
  3. Respond to all feedback. Whether positive or negative, you should respond fully and sincerely to every comment and review that isn’t trolling, threatening, or hateful in its content. Don’t automatically hide, delete, and block feedback just because it is negative. There is wisdom and insight to be gained from both praise and criticism, regardless of the format. Honor that through the practice of responding timely and candidly. This will demonstrate to those interacting with you and reading about you that engaging with people is a priority for your organization.
  4. Invite reviews and sharing. Ask job candidates and employees in the organization to provide reviews about your company online. After an interview or after a promotion is a great opportunity for this because the person is usually feeling good about the company and likely to share positive feedback. Also, ask employees to share and post photos from workplace events and everyday happenings that you can post online as well. The goal here is not to manipulate or force feedback; rather the goal is to make sure the feedback about your company is balanced and properly represents your brand.

When done right, these tips will help the people inside and outside of your organization get an accurate depiction of what working for your company is like. It will give current employees a greater sense of pride about working for your organization, making them less likely to look for and/or accept jobs from other places. Most importantly, it will allow applicants and consumers to learn and make choices about your company with the full picture of your brand in mind.

 

 



Wednesday, May 29, 2019

How to Create a Small Business Operating Budget

An operating budget is a critical component of any successful business; be it for profit or nonprofit. Business owners use the information to track progress, plan for growth, and adjust business practices to maximize profits. Before you can make money, you need to know how to spend it. It would help if you looked at the budget like a road map to success. Below you will understand the importance of a budget, the components, and how to draft one for your small business.

Why a Small Business Operating Budget Is Important

A budget helps business owners assess funds, spending requirements, and profits needed. However, there are other important reasons. Banks and financial institutions review your budget to evaluate loan opportunities. Employees use the information to assess the health of the company to see if they are willing to invest their time and effort into working for you.

The goals outlined in the drafted budget allow the employees to feel like part of the team. More importantly, they know exactly what you want from them and how to help the company succeed. Lastly, a budget can help you determine funds needed for labor and materials, cost of operations, start-up costs, required revenue goals, and an estimate of expected profits.

Budget Components

There are three main components. You should be able to detail revenues, costs, and profits. This information, known as cash flow, is needed to calculate the amount available for capital improvements or expenses. This should be calculated yearly and broken down into 12 months with blank columns next to estimates. The empty columns allow you to compare actual results to estimated projections as the year progresses. This can be performed with the help of a trained professional, such as an accountant, or by yourself using financial software, or worksheets, or templates.

Small Business Administration Definitions

The Small Business Administration (SBA) is a government agency that provides support to entrepreneurs and small businesses. The SBA defines several essential components to a successful budget. At the core, the SBA states that it should operate like a simple mathematical equation: sales are equal to the total cost plus profit. Sales are just your company’s revenue. Total cost and expenses are what you need to spend or do to earn sales. Fees are divided into three categories. Fixed costs remain flat over time concerning transactions, such as rent or insurance. Variable costs adjust as sales fluctuate. The number of raw materials needed to produce inventory, for example, increases as your sales do. Semi-variable prices are fixed costs that are influenced by the volume and quality of business, such as employee salaries or advertising.

Drafting a Budget

To start drafting, you first need to collect previous budgets and reports of sales and expenses. Next, list fixed costs that require payment regardless of sales. This includes rent, specific salaries, insurance, and regularly occurring losses. You will also need to compile a list of estimated expenses that can vary, such as the cost of raw materials or advertising cost. You may also want to list unexpected expenses like legal fees or repairs. While they may not occur, it is a good idea to plan on them arising.

Review sales reports to determine targets for the year. A financial projection can help determine the outcome of products or services according to market research. Once all this data is compiled, you can combine it into your budget. You can use financial software, spreadsheets, or hire a professional.

Tips and Tricks

With a properly constructed budget, you are informed of issues quickly. When such problems arise, there are some tips and tricks to help get your business back on track.

-You should review your figures. Make sure all the data and estimates are correct. Sometimes businesses grow faster than budgets are examined, resulting in complications.

– Freeze expenses such as raises, new hires, or bonuses until your business is stable. You should also avoid starting new projects, which can only exacerbate the issue.

-If you need to cut expenses, you can lay off extraneous employees and shut down facilities. This will result in a decrease in morale. However, if you can get everything back on track, you may be able to rehire and reopen.

A budget is a simple tool. It is an estimate of how your business will perform financially based on previous sales and revenue reports. Though it is simple, it is still an essential addition to your financial tool belt. With the information, you can predict performance, efficiently manage resources, and ensure stable cash flow.



Jason Wilson: Champion of Healthy Masculinity

BE Modern Man: Jason Wilson

Author of Cry Like A Man, 48, Founder and CEO of The Yunion and The Cave of Adullam

Twitter: @mrjasonowilson; Instagram: @mrjasonowilson

Founder and CEO of The Yunion (pronounced union), Jason Wilson is a proven champion of healthy masculinity with over 14 years of experience in training and developing young black men. Under his leadership, The Yunion has effectively reached more than 10,000 youth and young adults in Metro Detroit. An expert in Emotional Stability Training®, Wilson also created The Cave of Adullam Transformational Training Academy (CATTA). Through his passion and leadership, The CATTA has garnered numerous acknowledgments and awards for their work teaching boys how to introspectively confront and conquer their negative emotions with composure. 

Having demonstrated powerful results in improving the life outcomes of black boys and men, Wilson has been frequently celebrated for catalyzing local and national systemic change. In 2015, he received the Campaign for Black Male Achievement Innovation Accelerator Award. In 2016, Wilson received the President’s Volunteer Service Award in Washington D.C. Wilson has also been a guest on The Dr. Oz Show, where he discussed his Emotional Stability Training® approach. In 2016, Wilson was a presenter at the White House for the My Brother’s Keeper Showcase presented by then-President Barack Obama. Most recently, The Cave of Adullam Transformational Training Academy was awarded the Chick Fil-A’s True Inspiration Award for its innovative approach to emotional and mental health for males.

Personally, one of Wilson’s greatest achievements is his family, as husband of over 20 years to his wife, Nicole and a proud father of two beautiful children, Alexis and Jason II.

HOW HAVE YOU TURNED STRUGGLE INTO SUCCESS?

The Cave of Adullam (CATTA) was formed through struggle. I didn’t let the pain of growing up without a father hinder the creation of The CATTA, which allowed me to serve as a surrogate father to many young men across the nation.

WHO WAS YOUR GREATEST ROLE MODEL?

My mother was my greatest role model. She taught me how to live from my heart and how to be a servant to those in need.

WHAT’S THE BEST ADVICE YOU’VE EVER RECEIVED?

Be what you didn’t see.

HOW ARE YOU PAYING IT FORWARD TO SUPPORT OTHER BLACK MALES?

I teach, train, and transform uninitiated boys into comprehensive men of the most high. Men who are physically conscious, mentally astute, and spiritually strong enough to navigate through the pressures of this world without succumbing to their negative emotions.

HOW DO YOU DEFINE MANHOOD?

Being anything and everything you have to be at any given moment defines manhood. Healthy masculinity is about living a comprehensive life instead of one only defined by masculinity.

WHAT DO YOU LIKE MOST ABOUT BEING A BLACK MAN?

I value my history. I’m extremely proud to be in the lineage of kings, queens, inventors, and change agents. I’m proud of all that my people accomplished pre-slavery, their fortitude to persevere through slavery and their fight to overcome injustice today.



Tuesday, May 28, 2019

Rebuilding After the Storm: The U.S Virgin Islands Are Open for Business

[PODCAST] YOUR MONEY, YOUR LIFE: EPISODE 7 – ‘Talk Money Before Committing Financially to Love’

The Money Coach Lynnette Khalfani-Cox gets real about the important financial conversations a couple should have before they make a serious relationship commitment, such as cohabitation or marriage.

The new personal finance podcast, Your Money, Your Life is hosted by Black Enterprise’s own Alfred Edmond Jr. This special series features a lineup of great guests, including The Breakfast Club’s Angela Yee; DeForest B. Soaries Jr., founder of the dfree Financial Freedom Movement; Tiffany “The Budgetnista” Aliche; and Jacquette M. Timmons, president & CEO of Sterling Investment Management. The show will cover money topics ranging from how to control your debt to our psychological relationship with our finance. A can’t miss!



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