October 19, 2014 at 5:50 pm #459
By the end of 2015, and 150 years since emancipation, Black African Americans (including mixed and African born) are approaching 15% of the U.S. population and 1.5 trillion in spending power! If even at least 15% of the Black U.S. population spent 15% minimum (up from 3%) with the current number of black-owned entities (who statistically hire 2/3 black for their labor force), our workforce could create the consumer demand necessary to financially support over 1.5 million new jobs as well as encouraging entrepreneurs to take risks to build bigger & better products and services for our community!
So, how can we make this a reality? And how do we cultivate and focus our demand to stimulate growth in the right direction?October 19, 2014 at 5:51 pm #460
Here’s five things we can start promoting for the next year:
1. Every member of our culture as a consumer, B2C, Non-Profit, and B2B entities should spend 15% (minimum) of their discretionary income with black-owned entities and/or distributors. This will grow a percent per year; for example 2020 should be 20% minimum. In predominately black territories, black-on-black spending should be encouraged to reach above 51% instead of 15%. This includes non-profits as well.
2. Organize community owned cooperatives where members pay $15 per month per household dedicated towards building our own infrastructures for self reliance. Employed co-op members pay an additional fee; the lesser of 1.5% of gross income or $150 per quarter.
3. Volunteer a minimum of 15 hours a season for bettering your community & culture; whether independently, through an organization, or helping out a small business.
4. Business owners and organizations commit to never employing beyond over 15% outside of our culture.
5. Installing a 15% (net profit) service networking relationship (5% marketing and referrals /10% closing sales) with service businesses, consultants, professionals and freelancers; creating incentives to creating and sharing sales leads with one another!October 27, 2014 at 11:58 pm #499
Great ideas Brother Rashad.November 15, 2014 at 12:34 am #588
Great Question Bro. Rashad, there are many avenues that need can be addressed to increase our collective wealth but for me I think the focus on our beauty industry is our shot. There is no divisiveness about our hair and beauty. Proper control of our industry can generate millions and create infrastructure needed for our children.December 20, 2014 at 12:21 pm #680
In my opinion as a consultant, controlling the Hair Care Industry relies on our effectiveness in two areas:
(A) Creating a catalog for the salons and barbershops (and of course their clients) to group purchase from existing black suppliers in an affiliate program format. This way, the shops and salons are double-incentivized to control “where” our people should buy hair products: revenue from group-buying & more foot traffic into their establishment. Beside, their business models are long overdue for revising into the 21st century of niche and convenience.
(B) Facilitating the import/export process from suppliers in various black nations to our black retailers here in the U.S. I’ve worked with a Nigerian client who had a clothing store and wanted to partner with a colleague from his homeland wholesale their hair care products in the states. The reason we we’re getting “beat to the punch” by non-black suppliers is because our suppliers in nations like Nigeria, Ghana, Ethiopia & Kenya still need to import various “active and non-active ingredients” at a more affordable price. So if those suppliers can’t afford to manufacture here in the states like Toyota & Volkswagon, they’ll need to find a cheaper way to export the ingredients they need.
So, if we can…
(A) Incentivize the shops and salons to take a more active role in being the quintessential locations to display and sell black products
(B) Assist & Facilitate the import/export process to get more African distributors in the market.
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