And no I’m not simply talking about blacks buying from black owned businesses. That has been rhetoric we’ve been pushing for 5 decades and it has gone nowhere.
What I’m talking about is the actual nuts and bolts of the group economics concept.
Group economics is the sustained economic progress of a group fueled by internal members OF that group. The group in this case is the African American community in the United States.
But the problem is you can’t just jump out the bushes and yell at everyone into buying things from black owned businesses. There has to BE black owned businesses created as we hope to increase the demand for these products and services.
Wonder why there really arent any black owned businesses selling the things we actually use on a daily basis? Those businesses have no CAPITAL to be formed. Those who have been formed have no capital to GROW.
Why don’t they have capital to grow?
Well outside of us only want to buy Jordans, video games, red bottoms, gucci purses and pop bottles at the club?
Because Blacks are fundamentally against coming together and investing into these companies for startup and growth.
A LOAN WILL NOT HELP YOU START A BUSINESS. INVESTMENT is how you start a business. Try the former and you will become a statistic.
I’m talking about the actual “group investment” portion of “group economics.”in addition to your OWN investment.
If you want to start a rental income property business, and your company’s first multi unit property costs $60k in Detroit, but you have neither the full $60k in cash nor all of the skills necessary to engage in the rental income industry, you will simply let years go by as you talk about what you want to do.
OR as a BKF student, you will instead think about how many people that you know you need to bring together TO make it happen. It takes 10 people with $6k each to run that business, 6 people with $10k each or 3 people with $20k each.
The average negro will say “well I don’t trust anyone” or “I don’t know anyone with $6k” and thats IF they have $6k to contribute themselves.
The BKF student on the other hand has already stopped reading this post and set their plan in motion sans excuses.
If it takes $20k to start a box of the week delivery service where you curate other’s products for people you buy from wholesale, who are you going to partner with for the other $10k half of those costs and their business know how? Oh someone only wants to invest and not be a partner? Who are you going to partner with for their $5k portion to match your $5k portion which apparently also has $10k in angel investment already pledged? You NEED partners with complimenting skill sets, even if its one partner in the beginning.
Or you could still be side hustling incense and umbrellas on crenshaw by yourself 10 years from now.
If you want to start a business that sells a specific tech related product that you know will take $50k just to develop the protoype, then another $150k to produce and distribute, then I have an idea… Figure out how to bring your plans in front of Nas’ Queenbridge capital, The Winner’s Circle Group, Google Ventures and a mixture of other sources of funding described in http://www.BKFBusinesSchool.com.
We are only limited by the excuses we tell ourselves, our brotherly distrust and lack of teamwork.
Our people are currently here:
Individually consume everything produced by others –> maybe think about individually producing one day if we get inspiration between watching basketball games.
We need to be here:
Invest –> produce –> consume –> Invest –> produce –> consume
..as a group.
We are the only ones not participating in ‘the’ sharing economy as well as not even sharing in our ‘own’ economy.
Yes, a small percentage of us will ever be business owners.
But we won’t get anywhere unless each of us become investors.
Finally – how do you become an investor?
Stop consuming every other race & nationality’s products so d$%m much so you can reduce your liabilities. (monthly expenses)
Once you’ve reduced your own liabilities, this will in turn increase your cashflow.
Your job is to invest that cashflow.
Buying products from Black owned business – while important – is NOT the same as investing in Black owned businesses.
There will be no products worth buying unless we invest to have those products developed in the first place.
And there will be no businesses to invest in unless we team up and partner with those who have complimenting skill sets. (read: different from our own)
We will team up to make babies but not team up to give these babies the economic conditions in which to grow and thrive.
Poor people don’t need credit, they need TEAMWORK.