1 00:00:00,240 --> 00:00:00,360 Speaker 1: Hi. 2 00:00:00,480 --> 00:00:03,000 Speaker 2: I am Rushan McDonald, a host the weekly Money Making 3 00:00:03,040 --> 00:00:06,720 Speaker 2: Conversation Masterclass show. The interviews and information that this show 4 00:00:06,760 --> 00:00:10,120 Speaker 2: provides off for everyone. It's time to stop reading other 5 00:00:10,119 --> 00:00:12,960 Speaker 2: people's success stories and start living your own. 6 00:00:13,200 --> 00:00:15,040 Speaker 1: I'm talking about you now. 7 00:00:15,280 --> 00:00:16,880 Speaker 2: If you want to be a guest on my show, 8 00:00:17,239 --> 00:00:22,880 Speaker 2: Money Making Conversations Masterclass, please visit our website, Moneymakingconversations dot 9 00:00:22,920 --> 00:00:25,560 Speaker 2: com and click the be a Guest button. If you 10 00:00:25,560 --> 00:00:29,840 Speaker 2: are a small business owner, entrepreneur, motivational speaker, influencer, or 11 00:00:29,880 --> 00:00:33,760 Speaker 2: nonprofit I want you on my show. Now, let's get started. 12 00:00:34,240 --> 00:00:37,720 Speaker 2: My guess is the executive director of Black Ambition. It 13 00:00:37,760 --> 00:00:40,839 Speaker 2: was founded by Grammy Award winning artist and producer for 14 00:00:40,960 --> 00:00:44,879 Speaker 2: Real Williams. Black Ambition is a national initiative that funds 15 00:00:44,880 --> 00:00:48,440 Speaker 2: and mentors black and brown entrepreneurs to build the future 16 00:00:48,479 --> 00:00:52,159 Speaker 2: of innovation. The program has awarded millions in capital and 17 00:00:52,200 --> 00:00:56,600 Speaker 2: support to founders across industries. Please welcome to Money Making 18 00:00:56,600 --> 00:01:00,440 Speaker 2: Conversations Masterclass. The executive director, Felicia Hatcher. 19 00:01:00,600 --> 00:01:01,280 Speaker 1: Hi you doth. 20 00:01:01,080 --> 00:01:05,200 Speaker 3: Fleischer, good fantastic, Rashan, thank you so much for having. 21 00:01:05,000 --> 00:01:05,559 Speaker 4: Me on the show. 22 00:01:06,040 --> 00:01:08,800 Speaker 2: Got to this is right in my ally, my background 23 00:01:08,959 --> 00:01:13,000 Speaker 2: is My degree is in mathematics. Graduated degree in mathematics. 24 00:01:13,000 --> 00:01:14,560 Speaker 2: I thought I was going to be an engineer, but 25 00:01:14,600 --> 00:01:18,320 Speaker 2: they physics ran me out of that class. Okay, I 26 00:01:18,360 --> 00:01:20,679 Speaker 2: settled them on math and people tell me that's pretty hard. 27 00:01:20,720 --> 00:01:22,160 Speaker 2: So I got to be impressed and I got a 28 00:01:22,160 --> 00:01:24,319 Speaker 2: math degree. But tell us about your program. 29 00:01:24,319 --> 00:01:26,600 Speaker 3: I've been building this what I call like a rocket 30 00:01:26,600 --> 00:01:29,760 Speaker 3: ship with Pharrell to cry really to be able to 31 00:01:29,800 --> 00:01:34,319 Speaker 3: create unprecedented access to opportunities and resources and really kind 32 00:01:34,319 --> 00:01:35,720 Speaker 3: of close that gap. Right. 33 00:01:36,120 --> 00:01:38,840 Speaker 4: I think there's people that are too comfortable wasting. 34 00:01:38,480 --> 00:01:43,560 Speaker 3: The time of black entrepreneurs with misaligned resources and low quality, 35 00:01:43,560 --> 00:01:46,920 Speaker 3: low vibrational mentorship, and that's definitely not the path that 36 00:01:46,959 --> 00:01:49,400 Speaker 3: we are on. And so as a result of that, 37 00:01:49,440 --> 00:01:52,840 Speaker 3: we've invested in amazing companies and they we award the 38 00:01:52,920 --> 00:01:56,840 Speaker 3: checks to the entrepreneurs. That's also including a fantastic conversation 39 00:01:56,880 --> 00:02:01,440 Speaker 3: with Pharrell and then Melanie Hobson of Area Investments also 40 00:02:02,040 --> 00:02:06,240 Speaker 3: was on the board of Starbucks and JP Morgan, among 41 00:02:06,320 --> 00:02:09,720 Speaker 3: among other phenomenal things. And then we'll also, like I said, 42 00:02:09,720 --> 00:02:13,120 Speaker 3: award the checks of the entrepreneurs the Fundable Founder's Forum, 43 00:02:13,200 --> 00:02:15,440 Speaker 3: and so taking this big celebration, this big kind of 44 00:02:15,480 --> 00:02:18,840 Speaker 3: catalytic moment for these entrepreneurs, and then creating a set 45 00:02:18,880 --> 00:02:22,359 Speaker 3: of master classes. So not only are you hearing inspirational 46 00:02:22,400 --> 00:02:25,080 Speaker 3: stories which I think are fantastic and cool, but like 47 00:02:25,320 --> 00:02:28,160 Speaker 3: you're leaving there with actually how to implement it. And 48 00:02:28,200 --> 00:02:30,120 Speaker 3: I've been to a lot of conferences ra Sean, I'm 49 00:02:30,160 --> 00:02:32,400 Speaker 3: sure you have as well. You leave with a notebook 50 00:02:32,440 --> 00:02:35,000 Speaker 3: full of notes. And then a lot of entrepreneurs just 51 00:02:35,040 --> 00:02:38,000 Speaker 3: don't apply it right and so taking the time instead 52 00:02:38,040 --> 00:02:40,919 Speaker 3: of going from conference to conference or learning to learning, 53 00:02:41,160 --> 00:02:44,280 Speaker 3: when do you actually apply and implement what you were learning? 54 00:02:44,560 --> 00:02:46,640 Speaker 3: And so we've created a really unique model with the 55 00:02:46,639 --> 00:02:50,000 Speaker 3: Fundable Founder's Forum to allow them to get the information. 56 00:02:50,160 --> 00:02:52,840 Speaker 3: And then Louis Vuitton is a partner of ours who've 57 00:02:52,880 --> 00:02:56,000 Speaker 3: been creating some phenomenal pathway for a lot of our entrepreneurs. 58 00:02:56,440 --> 00:02:59,720 Speaker 3: And that session is really kind of tailored around creating 59 00:02:59,760 --> 00:03:02,960 Speaker 3: a luxury retail experience. So whether you were in the 60 00:03:03,040 --> 00:03:06,959 Speaker 3: luxury space or not, consumers in this economy are requiring, 61 00:03:07,760 --> 00:03:11,600 Speaker 3: they're asking for different things as a result of the 62 00:03:11,680 --> 00:03:15,520 Speaker 3: buying experience. They're demanding more and so knowing the language, 63 00:03:15,600 --> 00:03:18,040 Speaker 3: the art of how to really kind of take care 64 00:03:18,120 --> 00:03:19,840 Speaker 3: of them. And then I think for a lot of 65 00:03:19,960 --> 00:03:22,800 Speaker 3: entrepreneurs that really need to raise their rates, how do 66 00:03:22,840 --> 00:03:25,360 Speaker 3: you do that? Like, how do you communicate the value 67 00:03:25,800 --> 00:03:28,320 Speaker 3: proposition of what you were building and kind of wrap 68 00:03:28,400 --> 00:03:31,600 Speaker 3: that around getting people what they need and ultimately from 69 00:03:31,600 --> 00:03:32,320 Speaker 3: a profit. 70 00:03:32,040 --> 00:03:33,839 Speaker 4: Standpoint, you get to grow and scale what you're doing 71 00:03:33,840 --> 00:03:34,200 Speaker 4: as well. 72 00:03:34,320 --> 00:03:36,480 Speaker 2: Cool, miss Hatcher, I want to make sure I'm getting 73 00:03:36,480 --> 00:03:38,160 Speaker 2: this right, I said, executive director. 74 00:03:38,280 --> 00:03:39,640 Speaker 1: You said CEO, which one is? 75 00:03:39,680 --> 00:03:44,080 Speaker 2: It's so CEO is what I'll be saying. And I 76 00:03:44,160 --> 00:03:47,040 Speaker 2: apologize and gave me the information as executive director of 77 00:03:47,120 --> 00:03:51,920 Speaker 2: Black Ambition. Now if anything is, there's always categories to 78 00:03:52,040 --> 00:03:54,840 Speaker 2: be a participant. Can you break down the categories that 79 00:03:55,120 --> 00:03:58,320 Speaker 2: involved with this? It really is a competition, correct. 80 00:03:58,160 --> 00:04:00,560 Speaker 4: Absolutely, Yeah, it's a national competition. 81 00:04:00,760 --> 00:04:03,720 Speaker 3: We get between twenty five hundred and three thousand applications 82 00:04:04,080 --> 00:04:06,560 Speaker 3: a year, so this has become one of the most competitive, 83 00:04:07,560 --> 00:04:11,600 Speaker 3: you know, prize competitions specifically designed for black and Hispanic 84 00:04:11,800 --> 00:04:15,040 Speaker 3: and HBCU entrepreneurs and so as a result of that, 85 00:04:15,080 --> 00:04:18,000 Speaker 3: it's a competition, right, and so the competition is fierce. 86 00:04:18,360 --> 00:04:20,280 Speaker 3: You really are looking at entrepreneurs really need to look 87 00:04:20,320 --> 00:04:22,320 Speaker 3: for ways in which to kind of communicate their value 88 00:04:22,320 --> 00:04:25,320 Speaker 3: in the marketplace and ultimately like where they will go 89 00:04:25,360 --> 00:04:28,599 Speaker 3: with the investment of resources and time that we do 90 00:04:28,640 --> 00:04:30,920 Speaker 3: as an organization. And so I think some of the 91 00:04:30,920 --> 00:04:34,920 Speaker 3: things that I see where entrepreneurs fall flat is rushing 92 00:04:35,320 --> 00:04:37,719 Speaker 3: to fill out the application and really not taking the time, 93 00:04:39,080 --> 00:04:43,320 Speaker 3: not understanding and not participating in info sessions. 94 00:04:43,360 --> 00:04:44,520 Speaker 4: Success leads clues. 95 00:04:44,560 --> 00:04:47,160 Speaker 3: We've invested in one hundred and thirty one companies, right, 96 00:04:47,160 --> 00:04:50,200 Speaker 3: that means one hundred and thirty one companies have told 97 00:04:50,200 --> 00:04:52,720 Speaker 3: you this is the way that you succeed and matriculate 98 00:04:52,720 --> 00:04:55,960 Speaker 3: through the process, and so they have social media profiles, 99 00:04:56,160 --> 00:04:58,760 Speaker 3: they often take office hours like these are the things 100 00:04:58,800 --> 00:05:01,800 Speaker 3: that I have had to learn raising capital that allow 101 00:05:01,839 --> 00:05:04,479 Speaker 3: me to kind of negotiate and you like navigate right 102 00:05:04,920 --> 00:05:08,120 Speaker 3: tap into where you know the head of marketing and 103 00:05:08,120 --> 00:05:10,360 Speaker 3: the where the head of communication, Like what conferences are 104 00:05:10,360 --> 00:05:12,640 Speaker 3: they speaking at where you can get some one on 105 00:05:12,640 --> 00:05:15,359 Speaker 3: one FaceTime that you may normally not be able to get. 106 00:05:15,680 --> 00:05:17,240 Speaker 3: These are the things that I think really kind of 107 00:05:17,240 --> 00:05:20,320 Speaker 3: stand out in an application process. And so we go 108 00:05:20,400 --> 00:05:23,520 Speaker 3: from those three thousand applications rash on to about two 109 00:05:23,560 --> 00:05:26,719 Speaker 3: hundred and fifty semi finalists, and then we take those 110 00:05:26,760 --> 00:05:29,160 Speaker 3: two hundred and fifty companies through a three month cohort 111 00:05:29,160 --> 00:05:32,479 Speaker 3: style mentorship program. So it's designed to stretch them in 112 00:05:32,560 --> 00:05:35,240 Speaker 3: ways they've never been stretched before. It's been designed to 113 00:05:35,320 --> 00:05:39,440 Speaker 3: challenge the assumptions of what they're creating, between their target market, 114 00:05:39,520 --> 00:05:42,400 Speaker 3: their product, their teams, what they actually need to grow 115 00:05:42,400 --> 00:05:45,480 Speaker 3: and scale and succeed, and just a world class group 116 00:05:45,520 --> 00:05:48,440 Speaker 3: of mentors that support them. And I'd say one distinction 117 00:05:48,600 --> 00:05:51,200 Speaker 3: of something that we do that is one from the 118 00:05:51,240 --> 00:05:53,320 Speaker 3: early conversations with fell and I is like, we take 119 00:05:53,320 --> 00:05:54,240 Speaker 3: a holistic kind. 120 00:05:54,120 --> 00:05:56,720 Speaker 4: Of fortitude approach to entrepreneurship. 121 00:05:56,760 --> 00:05:59,960 Speaker 3: And so through a program called Evoke, we have mentors 122 00:06:00,080 --> 00:06:04,600 Speaker 3: mental health and wellness team that supports these entrepreneurs. Because 123 00:06:04,600 --> 00:06:07,200 Speaker 3: it's one thing to go out and raise money, it's 124 00:06:07,200 --> 00:06:08,640 Speaker 3: a whole other thing to make sure that you are 125 00:06:08,760 --> 00:06:11,960 Speaker 3: whole as you're running these companies. And a lot of 126 00:06:12,000 --> 00:06:16,440 Speaker 3: our entrepreneurs are being interfaced with proximity to wealth and 127 00:06:16,480 --> 00:06:19,200 Speaker 3: power for the very first time. And if you're not 128 00:06:19,360 --> 00:06:21,919 Speaker 3: careful and kind of protected in how you raise money, 129 00:06:21,920 --> 00:06:24,960 Speaker 3: who you raise money from, the EBB and flow, when 130 00:06:25,000 --> 00:06:27,640 Speaker 3: things go well and things would things go horrible? How 131 00:06:27,640 --> 00:06:30,680 Speaker 3: to be transparent in your conversation with your investors. This 132 00:06:30,800 --> 00:06:35,320 Speaker 3: process of entrepreneurship can swallow you whole. Absolutely, we prioritize 133 00:06:35,320 --> 00:06:35,880 Speaker 3: that as well. 134 00:06:35,880 --> 00:06:36,120 Speaker 1: Cool. 135 00:06:36,200 --> 00:06:40,880 Speaker 2: I'm speaking to the CEO of Black Ambition, founded by 136 00:06:40,880 --> 00:06:43,400 Speaker 2: Pharrell Williams. If you don't know for William Grammy, we'll 137 00:06:43,440 --> 00:06:48,159 Speaker 2: be happy. That's my man, among other amazing hits. And 138 00:06:48,800 --> 00:06:52,239 Speaker 2: I interviewed a young man who is tried three times, 139 00:06:52,240 --> 00:06:55,159 Speaker 2: he say, failed twice and he finally got in. He's 140 00:06:55,240 --> 00:06:58,359 Speaker 2: a graduate of the Georgia Tech and Electrical Engineering. His 141 00:06:58,480 --> 00:07:01,440 Speaker 2: name is Lawrence Phillips. He has a platform called green 142 00:07:01,480 --> 00:07:06,159 Speaker 2: Book Global, which is a travel review initiative platform for 143 00:07:06,400 --> 00:07:10,560 Speaker 2: black travelers. Basically it launched off of the principle of 144 00:07:10,600 --> 00:07:13,760 Speaker 2: the original green Book, but now technology. 145 00:07:13,200 --> 00:07:13,800 Speaker 1: Is tied to you. 146 00:07:14,240 --> 00:07:17,720 Speaker 2: Well, when you travel places that welcome you, cities they 147 00:07:17,880 --> 00:07:21,640 Speaker 2: welcome you, and they have a partnership with Expedia. That's 148 00:07:21,640 --> 00:07:25,040 Speaker 2: how advanced their platform is. He founded in twenty seventeen 149 00:07:25,440 --> 00:07:27,600 Speaker 2: and he told me they have one hundred and fifty 150 00:07:27,640 --> 00:07:32,000 Speaker 2: thousand downloads. So I told him that's very good. Now, 151 00:07:32,040 --> 00:07:34,960 Speaker 2: a person like that, like you said, he tried twice. 152 00:07:35,680 --> 00:07:37,840 Speaker 2: Third time he did make the finals, but he won 153 00:07:38,040 --> 00:07:40,720 Speaker 2: another type honor at your event. 154 00:07:40,800 --> 00:07:41,320 Speaker 1: What was that? 155 00:07:42,400 --> 00:07:45,840 Speaker 3: Yeah, he is, he's a top prize winner, right, so 156 00:07:46,560 --> 00:07:49,560 Speaker 3: and then he also got the top kind of. 157 00:07:50,840 --> 00:07:53,320 Speaker 4: Voter's choice right as well. 158 00:07:53,400 --> 00:07:55,920 Speaker 3: Right, And so you know, and I hear there's quite 159 00:07:55,960 --> 00:07:59,440 Speaker 3: a few stories of entrepreneurs that have applied multiple times 160 00:07:59,480 --> 00:08:01,440 Speaker 3: and might to them and sometimes they don't want to 161 00:08:01,440 --> 00:08:04,440 Speaker 3: hear it is apply again. My mentor has always said 162 00:08:04,480 --> 00:08:06,679 Speaker 3: to you, if it doesn't work on you in that moment, 163 00:08:06,720 --> 00:08:09,600 Speaker 3: it works for you in that moment. Either way it works, right. 164 00:08:10,560 --> 00:08:13,040 Speaker 3: And I've been an entrepreneur, There's spent so many things 165 00:08:13,080 --> 00:08:14,800 Speaker 3: that I've applied to that I didn't want to. I 166 00:08:14,840 --> 00:08:17,120 Speaker 3: was just I'm not applying for this again. And it 167 00:08:17,160 --> 00:08:19,760 Speaker 3: was that second time. It was that third time when 168 00:08:19,760 --> 00:08:22,400 Speaker 3: I probably said a few choice words that I won't 169 00:08:22,440 --> 00:08:25,760 Speaker 3: repeat here, But like going through the process, and what 170 00:08:25,840 --> 00:08:28,360 Speaker 3: I realized in the process is every time I applied, 171 00:08:28,360 --> 00:08:31,200 Speaker 3: I became a different type of entrepreneur. I was asked 172 00:08:31,280 --> 00:08:34,040 Speaker 3: questions that I was a different person the first time, 173 00:08:34,360 --> 00:08:36,840 Speaker 3: but the second time I had much more clarity, I 174 00:08:36,840 --> 00:08:39,280 Speaker 3: had much more traction in what I built and so 175 00:08:39,400 --> 00:08:41,840 Speaker 3: whether I got through the finish line or not, I 176 00:08:41,880 --> 00:08:44,840 Speaker 3: was a different entrepreneur just going through the process. And 177 00:08:44,920 --> 00:08:47,960 Speaker 3: so we've designed our process, whether people realize it or not, 178 00:08:48,000 --> 00:08:50,360 Speaker 3: to do the exact same thing. It's going to ask 179 00:08:50,400 --> 00:08:53,000 Speaker 3: you questions that you may not have asked yourself before 180 00:08:53,120 --> 00:08:55,960 Speaker 3: in your business. But the result of sitting and actually 181 00:08:55,960 --> 00:08:58,640 Speaker 3: going through the process of answering it, you have a 182 00:08:58,720 --> 00:09:01,800 Speaker 3: completely different frame and how to approach everything. And so 183 00:09:01,840 --> 00:09:04,360 Speaker 3: we have to be comfortable and we have to actually 184 00:09:04,400 --> 00:09:07,600 Speaker 3: start enjoying the process that is put in place with 185 00:09:07,679 --> 00:09:09,280 Speaker 3: a lot of the things that we do to mold 186 00:09:09,360 --> 00:09:11,160 Speaker 3: us and not just say, man, I didn't make it. 187 00:09:11,200 --> 00:09:13,600 Speaker 3: I'm upset, like I'm gonna give up and close up. No, 188 00:09:13,600 --> 00:09:17,320 Speaker 3: absolutely not, Like continue to mold yourself through the process, 189 00:09:17,400 --> 00:09:20,640 Speaker 3: be stretched, be cut by the process. And that's how 190 00:09:20,679 --> 00:09:23,280 Speaker 3: you see growth in what you're building, not when you 191 00:09:23,320 --> 00:09:26,079 Speaker 3: give up. But it's like the iterative process of continuing 192 00:09:26,320 --> 00:09:27,800 Speaker 3: to go on and on. And if it doesn't work 193 00:09:27,840 --> 00:09:30,679 Speaker 3: for you at Black Ambition, there's so many other organizations 194 00:09:30,679 --> 00:09:32,080 Speaker 3: that I want you to kind of keep up and 195 00:09:32,120 --> 00:09:33,280 Speaker 3: keep going and keep applying. 196 00:09:34,080 --> 00:09:37,360 Speaker 2: Now, the ultimate question of the question for me is like, Okay, 197 00:09:37,600 --> 00:09:38,280 Speaker 2: I'm applying. 198 00:09:38,440 --> 00:09:40,720 Speaker 1: Who's judging, yeah, applying? 199 00:09:41,280 --> 00:09:44,360 Speaker 2: Well, you know who's telling me I'm good, I can 200 00:09:44,400 --> 00:09:46,560 Speaker 2: go to the next round, And who's telling me, hey, 201 00:09:46,679 --> 00:09:47,600 Speaker 2: try again next year. 202 00:09:48,280 --> 00:09:48,520 Speaker 4: Yeah. 203 00:09:48,640 --> 00:09:51,720 Speaker 3: You know, we have about two hundred to two hundred 204 00:09:51,760 --> 00:09:56,080 Speaker 3: and fifty application reviewers. Every application goes to two to 205 00:09:56,160 --> 00:09:59,840 Speaker 3: three rounds of reviews, and so we're getting a quite 206 00:09:59,840 --> 00:10:03,040 Speaker 3: a bit different rounds of feedback on every single application. 207 00:10:03,080 --> 00:10:05,840 Speaker 3: It's a pretty lengthy process of what happens on the 208 00:10:05,880 --> 00:10:08,920 Speaker 3: back end, but that's how we can decipher who rises 209 00:10:08,960 --> 00:10:11,160 Speaker 3: to the top. And then once they get there, that's 210 00:10:11,160 --> 00:10:13,560 Speaker 3: how we go from three thousand applications down to two 211 00:10:13,679 --> 00:10:17,000 Speaker 3: hundred and fifty applications that at that point they're submitting 212 00:10:17,000 --> 00:10:20,200 Speaker 3: things to us. They're submitting financials as well, so that 213 00:10:20,240 --> 00:10:23,199 Speaker 3: we can make sure that they are doing what they say. 214 00:10:23,040 --> 00:10:26,160 Speaker 4: That they've done and that they are set up to succeed. 215 00:10:26,640 --> 00:10:29,520 Speaker 3: And then there's another round, which you talked about with Lawrence, 216 00:10:29,559 --> 00:10:31,240 Speaker 3: that gets you down to the public voting, which is 217 00:10:31,240 --> 00:10:33,839 Speaker 3: the top fifty companies, and one of those companies will 218 00:10:33,840 --> 00:10:37,360 Speaker 3: automatically get a seat into the program by having the 219 00:10:37,400 --> 00:10:39,920 Speaker 3: popular vote, meaning that they've gotten the most people to 220 00:10:40,000 --> 00:10:43,560 Speaker 3: vote for them. And then is Demo Day where we 221 00:10:43,640 --> 00:10:46,560 Speaker 3: take the top twenty to twenty five companies and in 222 00:10:46,640 --> 00:10:50,280 Speaker 3: the past thirty three companies in order to award them 223 00:10:50,280 --> 00:10:54,319 Speaker 3: with financial capital and about six months of really intense coaching, 224 00:10:54,520 --> 00:10:59,080 Speaker 3: getting them follow on funding opportunities, getting them on retail shelves, 225 00:11:00,160 --> 00:11:02,640 Speaker 3: kind of take their Christmas list for shan like three 226 00:11:02,640 --> 00:11:04,920 Speaker 3: things that they want us to do, and support of them. 227 00:11:05,240 --> 00:11:07,120 Speaker 3: And it's our goal to either get them there or 228 00:11:07,160 --> 00:11:10,040 Speaker 3: get them one big giant step closer to what they 229 00:11:10,080 --> 00:11:11,559 Speaker 3: need to grow and scale what they're doing. 230 00:11:11,920 --> 00:11:12,959 Speaker 1: Don't go anywhere. 231 00:11:13,160 --> 00:11:15,840 Speaker 2: We will be right back with more insights from Money 232 00:11:15,840 --> 00:11:22,480 Speaker 2: Making Conversations master Class. Welcome back to Money Making Conversation 233 00:11:22,640 --> 00:11:25,360 Speaker 2: master Class hosted by me Rashaun McDonald. 234 00:11:25,559 --> 00:11:27,920 Speaker 1: Let's get back into it Alesia. 235 00:11:28,360 --> 00:11:33,960 Speaker 2: You know, this is entrepreneurship and women of color, especially 236 00:11:34,000 --> 00:11:38,120 Speaker 2: Black women, have been the fastest growing entrepreneurs. I've been 237 00:11:38,120 --> 00:11:41,320 Speaker 2: doing these interviews since twenty seventeen, so I can attest 238 00:11:41,400 --> 00:11:47,800 Speaker 2: that's a fact. Why are black women so into entrepreneurship? 239 00:11:48,440 --> 00:11:51,280 Speaker 4: Yeah, yeah, I think it's two things. 240 00:11:50,840 --> 00:11:54,840 Speaker 3: With that stat right, they're the fastest growing, but they 241 00:11:54,880 --> 00:11:59,600 Speaker 3: are also largely solopreneurs and meaning that most of them 242 00:11:59,640 --> 00:12:02,880 Speaker 3: are not grow and scale the company, largely because from 243 00:12:02,880 --> 00:12:06,120 Speaker 3: a revenue standpoint and the opportunities that have been dismantled. 244 00:12:07,160 --> 00:12:09,320 Speaker 3: But we also need them to be people that are 245 00:12:09,320 --> 00:12:12,040 Speaker 3: thinking about a team. And so even in our process 246 00:12:12,200 --> 00:12:16,760 Speaker 3: don't we don't invest in solopreneurs. You can't apply unless 247 00:12:16,760 --> 00:12:20,040 Speaker 3: you have a team mindset that you're building a team 248 00:12:20,559 --> 00:12:22,480 Speaker 3: and you're going to become a multiple You're going to 249 00:12:22,520 --> 00:12:25,040 Speaker 3: become a massive employer. That's how we have a multiplier 250 00:12:25,080 --> 00:12:26,160 Speaker 3: effect in our communities. 251 00:12:26,480 --> 00:12:29,599 Speaker 2: Talking to the CEO of Black Ambition, I'm telling you 252 00:12:29,600 --> 00:12:30,360 Speaker 2: how popular lists. 253 00:12:30,600 --> 00:12:32,080 Speaker 1: I didn't know about it. I'm men just let you 254 00:12:32,120 --> 00:12:32,360 Speaker 1: know that. 255 00:12:32,480 --> 00:12:34,480 Speaker 2: But obviously a lot of people know about it because 256 00:12:34,520 --> 00:12:39,040 Speaker 2: twenty five entrepreneurs applied nationwide. Twenty five finalists will receive 257 00:12:39,160 --> 00:12:44,840 Speaker 2: funding and defined categories HBCU pre Accelerated Winners, National Finalists, 258 00:12:44,880 --> 00:12:48,200 Speaker 2: Top Prize Winner, and People's Choice. How can we be 259 00:12:48,320 --> 00:12:51,440 Speaker 2: aware of the alert or can we go somewhere to 260 00:12:51,480 --> 00:12:53,680 Speaker 2: a website to get on a mailing list? 261 00:12:53,720 --> 00:12:55,520 Speaker 3: The best way is to go to our website, Black 262 00:12:55,520 --> 00:13:00,000 Speaker 3: Ammission Prize dot com. When you register and you join 263 00:13:00,080 --> 00:13:04,479 Speaker 3: in the newsletter. They get first hand knowledge and connections 264 00:13:04,520 --> 00:13:07,480 Speaker 3: to the inside track of how to really be able 265 00:13:07,480 --> 00:13:10,920 Speaker 3: to apply and then stand out in the application process. 266 00:13:11,200 --> 00:13:13,079 Speaker 3: But there's a ton of resources that we do throughout 267 00:13:13,120 --> 00:13:16,040 Speaker 3: the year to help people best position. And then what 268 00:13:16,040 --> 00:13:17,720 Speaker 3: we also do is we bring back a lot of 269 00:13:17,760 --> 00:13:20,400 Speaker 3: our past prize winners, our million dollar prize winners, we 270 00:13:20,440 --> 00:13:23,720 Speaker 3: bring back for info sessions. They contribute massively back into 271 00:13:23,720 --> 00:13:26,920 Speaker 3: the Black Ambition community because it's definitely a family, and 272 00:13:26,960 --> 00:13:28,640 Speaker 3: they're the best ones to tell you the things that 273 00:13:28,679 --> 00:13:32,080 Speaker 3: they did or almost did not do in order to 274 00:13:32,200 --> 00:13:35,640 Speaker 3: end up ultimately winning top prizes of you know, one 275 00:13:35,679 --> 00:13:37,960 Speaker 3: hundred thousand, two hundred and fifty thousand to a million dollars. 276 00:13:37,960 --> 00:13:39,240 Speaker 1: Absolutely. You know. 277 00:13:39,360 --> 00:13:42,120 Speaker 2: The thing about it is that I always tell people 278 00:13:43,040 --> 00:13:45,400 Speaker 2: first well based on the color stands, and you know, I've 279 00:13:45,400 --> 00:13:47,000 Speaker 2: always had to walk in the room people knew I 280 00:13:47,080 --> 00:13:51,760 Speaker 2: was black, so that that that can stereotype you, that 281 00:13:51,920 --> 00:13:54,600 Speaker 2: I will benefit you unless you're walking in front of the 282 00:13:54,600 --> 00:13:57,040 Speaker 2: room for the other black people because people have stereotypes. 283 00:13:57,400 --> 00:14:02,719 Speaker 2: But their entrepreneurship space is really important because we can 284 00:14:02,720 --> 00:14:06,320 Speaker 2: make a decision. And I always tell people Monday through Friday, 285 00:14:06,440 --> 00:14:08,880 Speaker 2: my wake up time at four thirty. There's a commitment 286 00:14:08,920 --> 00:14:13,040 Speaker 2: to being an entrepreneur. Now, with that being said, Grammy 287 00:14:13,080 --> 00:14:17,679 Speaker 2: Award winning artist and producer for Real Williams, why is 288 00:14:17,720 --> 00:14:18,560 Speaker 2: he doing this? 289 00:14:19,400 --> 00:14:19,840 Speaker 1: Yeah? 290 00:14:20,080 --> 00:14:22,040 Speaker 3: You know, I asked him that question all the time, 291 00:14:22,240 --> 00:14:25,680 Speaker 3: from the very first time we met, you know, I 292 00:14:26,080 --> 00:14:28,560 Speaker 3: asked him that a few times a year. It's usually 293 00:14:28,560 --> 00:14:30,560 Speaker 3: the question that I ask him every time we get 294 00:14:30,600 --> 00:14:33,160 Speaker 3: on stage, right before we present the checks. He's still 295 00:14:33,200 --> 00:14:36,680 Speaker 3: doing this again next year And I ask him that 296 00:14:36,760 --> 00:14:39,600 Speaker 3: because as a celebrity who have the heights in the 297 00:14:39,680 --> 00:14:42,200 Speaker 3: career that he's had, he can do so many other 298 00:14:42,200 --> 00:14:44,960 Speaker 3: things with his time, right, And he's had a massive 299 00:14:45,000 --> 00:14:50,920 Speaker 3: impact from an entertainment, philanthropic, fashion, you know, product space 300 00:14:51,200 --> 00:14:51,760 Speaker 3: as well. 301 00:14:52,280 --> 00:14:54,960 Speaker 4: And he's an entrepreneur that didn't really. 302 00:14:54,800 --> 00:14:57,960 Speaker 3: Know he was an entrepreneur, right, And there are people 303 00:14:57,960 --> 00:15:01,120 Speaker 3: that invested it in him. And he always talk about 304 00:15:01,200 --> 00:15:04,040 Speaker 3: like that, right, like he's his mom has a PhD 305 00:15:04,080 --> 00:15:07,160 Speaker 3: in education, but he's a college dropout. Because he believed 306 00:15:07,160 --> 00:15:08,960 Speaker 3: in a vision early on and there were so many 307 00:15:08,960 --> 00:15:11,000 Speaker 3: other people that at the time where he didn't have 308 00:15:11,000 --> 00:15:14,080 Speaker 3: the full belief in his music capabilities. He borrowed someone 309 00:15:14,080 --> 00:15:16,760 Speaker 3: else's belief in him until it became his own. And 310 00:15:16,800 --> 00:15:21,200 Speaker 3: so building black ambition is a natural extension of that belief. 311 00:15:21,800 --> 00:15:25,560 Speaker 3: The resources that need to come together, the connections, but 312 00:15:25,680 --> 00:15:28,160 Speaker 3: also the doors that need to be open from the 313 00:15:28,160 --> 00:15:31,920 Speaker 3: gatekeepers in the entertainment industry. And so we've dismantled all 314 00:15:31,960 --> 00:15:34,320 Speaker 3: of that. He's dismantled all of that. And that's why 315 00:15:34,360 --> 00:15:37,240 Speaker 3: we do what we do because we know that talent 316 00:15:37,760 --> 00:15:41,560 Speaker 3: is not equally distributed by zip code, but opportunity can 317 00:15:41,680 --> 00:15:45,160 Speaker 3: be right if we kind of democratize what that looks 318 00:15:45,200 --> 00:15:47,840 Speaker 3: like for other people, especially what it looks like for 319 00:15:48,000 --> 00:15:51,720 Speaker 3: our people. But you know, wealth is wealth has a 320 00:15:51,800 --> 00:15:53,680 Speaker 3: need for speed, and the only way that we're going 321 00:15:53,720 --> 00:15:56,360 Speaker 3: to close the wealth and opportunity gap is we got 322 00:15:56,400 --> 00:15:59,240 Speaker 3: to move faster. We got to find our superfans that 323 00:15:59,320 --> 00:16:02,960 Speaker 3: truly came about the value that black people have always 324 00:16:02,960 --> 00:16:06,600 Speaker 3: brought to the marketplace. And that's why he does what 325 00:16:06,640 --> 00:16:08,360 Speaker 3: he does in the way that we have done it 326 00:16:08,400 --> 00:16:09,720 Speaker 3: and we will continue. 327 00:16:09,320 --> 00:16:09,720 Speaker 1: To do it. 328 00:16:09,880 --> 00:16:13,760 Speaker 2: I'm gonna just tell you some Felicia. You're good, You're very, 329 00:16:13,960 --> 00:16:17,000 Speaker 2: very talented. I do a lot of interviews you you know, 330 00:16:17,160 --> 00:16:22,320 Speaker 2: ragistart gois you go. You know you you articulate, you 331 00:16:22,360 --> 00:16:26,680 Speaker 2: know the value system, the purpose and the drive. Now 332 00:16:26,840 --> 00:16:29,920 Speaker 2: with that being said, you the CEO Black Ambition. Okay 333 00:16:29,920 --> 00:16:32,720 Speaker 2: for Rell, he's the Grammy Award winning artist and producer. 334 00:16:32,960 --> 00:16:34,200 Speaker 2: How did you two connect? 335 00:16:35,840 --> 00:16:40,120 Speaker 3: You know, it's it's a few different ways, right. 336 00:16:42,040 --> 00:16:42,240 Speaker 1: You know. 337 00:16:42,360 --> 00:16:45,560 Speaker 3: I've built an organization called the Center for Black Innovation, 338 00:16:45,960 --> 00:16:49,640 Speaker 3: and here in Miami it built a technology conference with 339 00:16:49,640 --> 00:16:51,960 Speaker 3: my husband called Black Tech Week that we sold a 340 00:16:52,000 --> 00:16:55,480 Speaker 3: few years ago. I'm a C student who was told 341 00:16:55,480 --> 00:16:58,000 Speaker 3: I'd never make it to a college or university, and 342 00:16:58,040 --> 00:17:06,919 Speaker 3: I've had the most random career in and UH Tech, NBA, Nintendo, Sony. 343 00:17:08,000 --> 00:17:11,000 Speaker 3: But I'm a C student and a college dropout right Like, ultimately, 344 00:17:11,080 --> 00:17:12,680 Speaker 3: at the end of the day, I'd never let those 345 00:17:12,720 --> 00:17:15,560 Speaker 3: things define me because I realized that there was more 346 00:17:15,560 --> 00:17:16,720 Speaker 3: than one pathway. 347 00:17:16,320 --> 00:17:17,960 Speaker 4: To success if you get creative. 348 00:17:18,560 --> 00:17:20,239 Speaker 3: And that has been the story of my life, and 349 00:17:20,280 --> 00:17:23,720 Speaker 3: that is how I've always looked and approached entrepreneurship. And 350 00:17:23,800 --> 00:17:26,640 Speaker 3: I've ran a few companies, have been successful, and I've 351 00:17:26,640 --> 00:17:29,560 Speaker 3: been had some epic failures and probably more than I 352 00:17:29,560 --> 00:17:32,720 Speaker 3: will ever account and own up to. Right And because 353 00:17:32,760 --> 00:17:35,040 Speaker 3: of all that is why I'm an entrepreneur. I'm also 354 00:17:35,160 --> 00:17:39,119 Speaker 3: the da also the grand granddaughter of a Jamaican sugar 355 00:17:39,200 --> 00:17:43,760 Speaker 3: cane and yam farmer, and my grandfather was an entrepreneur, 356 00:17:43,800 --> 00:17:46,320 Speaker 3: and throughout my own life until he transitioned, I'd never 357 00:17:46,359 --> 00:17:48,840 Speaker 3: called him an entrepreneur. No one in our family called 358 00:17:48,880 --> 00:17:51,159 Speaker 3: him an entrepreneur. But like, we ate a lot of 359 00:17:51,200 --> 00:17:54,080 Speaker 3: sugar cane and yam because that is what he harvested, 360 00:17:54,240 --> 00:17:55,520 Speaker 3: right and. 361 00:17:55,480 --> 00:18:01,200 Speaker 2: My sugarcane market biting on the end of that right now. 362 00:18:02,040 --> 00:18:04,359 Speaker 3: And my dad and uncle have been in the construction 363 00:18:04,440 --> 00:18:07,879 Speaker 3: and development space for about thirty years as entrepreneurs. And 364 00:18:07,920 --> 00:18:10,600 Speaker 3: so my other side of the family is from South Georgia, 365 00:18:10,640 --> 00:18:13,760 Speaker 3: so I grew up in it without even realizing it, 366 00:18:13,800 --> 00:18:16,119 Speaker 3: and I probably for the longest time couldn't even spell 367 00:18:16,160 --> 00:18:21,120 Speaker 3: the word entrepreneur correctly. But I am the beneficiary of 368 00:18:21,160 --> 00:18:24,360 Speaker 3: what it means to step out on faith, to have 369 00:18:24,400 --> 00:18:28,159 Speaker 3: a plan, to not have any resources, but to be 370 00:18:28,280 --> 00:18:32,119 Speaker 3: led by a vision so that it's ultimately transformational in communities. 371 00:18:32,160 --> 00:18:34,399 Speaker 3: And so as a result of that, I get to 372 00:18:34,680 --> 00:18:38,760 Speaker 3: do this work. But like that connection point to Pharrell 373 00:18:38,920 --> 00:18:41,679 Speaker 3: is I think people are always watching you, whether you 374 00:18:41,760 --> 00:18:44,840 Speaker 3: realize it or not, And it was a random lunch 375 00:18:44,920 --> 00:18:48,960 Speaker 3: conversation with someone not even necessarily connected to Pharrell that 376 00:18:49,080 --> 00:18:51,800 Speaker 3: was just like, I need you to meet someone. And 377 00:18:51,840 --> 00:18:54,200 Speaker 3: that ended up being a random lunch that this is person. 378 00:18:54,440 --> 00:18:56,239 Speaker 3: And the funny thing is a person kept asking me, 379 00:18:56,320 --> 00:18:58,000 Speaker 3: are you familiar with black ambition. I was like, yeah, 380 00:18:58,040 --> 00:19:00,600 Speaker 3: I'm familiar with black and missions like, no, look at it. 381 00:19:00,960 --> 00:19:02,960 Speaker 3: And I ended up having another meeting with him the 382 00:19:02,960 --> 00:19:04,639 Speaker 3: next day with someone else. He's like, there's someone I 383 00:19:04,720 --> 00:19:06,679 Speaker 3: want you to meet and it ended up being Forrell's 384 00:19:06,720 --> 00:19:09,920 Speaker 3: chief of staff, and then that evening it turned into 385 00:19:09,960 --> 00:19:13,040 Speaker 3: a zoom conversation where he was in the background, he 386 00:19:13,080 --> 00:19:13,639 Speaker 3: didn't speak. 387 00:19:13,680 --> 00:19:14,840 Speaker 4: It was his chief of staff. 388 00:19:15,520 --> 00:19:18,080 Speaker 3: And then that turned into about four months of meetings 389 00:19:18,119 --> 00:19:22,000 Speaker 3: and conversations and interviews, and then I got asked to 390 00:19:22,040 --> 00:19:25,880 Speaker 3: be asked to lead the organization I had founded. I'd 391 00:19:25,960 --> 00:19:28,960 Speaker 3: just raised some significant money for to kind of transform 392 00:19:29,000 --> 00:19:31,080 Speaker 3: the Center for Black Innovation. I got asked to come 393 00:19:31,560 --> 00:19:34,600 Speaker 3: leave that and kind of build this rocket ship with Pharrell. 394 00:19:34,680 --> 00:19:37,720 Speaker 3: It wasn't an easy answer, and I can look back 395 00:19:37,760 --> 00:19:41,640 Speaker 3: and and say that honestly, but it was the right thing. 396 00:19:41,680 --> 00:19:44,320 Speaker 3: I was not in a position to write checks. With 397 00:19:44,359 --> 00:19:46,840 Speaker 3: what I had built with Center for Black Innovation and 398 00:19:46,880 --> 00:19:49,880 Speaker 3: with Center for with with with Black Ambition, what I'm 399 00:19:49,880 --> 00:19:55,600 Speaker 3: actually directly able to put checks and financial opportunities into 400 00:19:55,680 --> 00:19:58,080 Speaker 3: the entrepreneurs. They need the capital, they need the capital. 401 00:19:58,160 --> 00:20:00,639 Speaker 3: They need the capital, and then they need everything else. 402 00:20:00,680 --> 00:20:03,840 Speaker 3: But it starts with the capital to actually actualize the dream. 403 00:20:03,880 --> 00:20:04,280 Speaker 1: Awesome. 404 00:20:04,760 --> 00:20:07,760 Speaker 2: One other thing I want to say before we this, 405 00:20:08,320 --> 00:20:11,639 Speaker 2: we're talking like this is a closed event. Can the 406 00:20:11,680 --> 00:20:13,560 Speaker 2: general public come to this event? 407 00:20:14,640 --> 00:20:17,800 Speaker 4: Yeah? So demo day is open to the public. 408 00:20:17,880 --> 00:20:20,840 Speaker 2: I would you come to Jake Felicia. I'm establishing the relationship, 409 00:20:21,200 --> 00:20:23,000 Speaker 2: letting everybody know about Black Ambition. 410 00:20:23,359 --> 00:20:24,440 Speaker 1: Go to the website. 411 00:20:24,840 --> 00:20:27,200 Speaker 2: Get you get fired up because it's going to be 412 00:20:27,240 --> 00:20:30,080 Speaker 2: a six year is going to happen. You're listening to 413 00:20:30,119 --> 00:20:33,840 Speaker 2: the CEO finding about how she created just a massive 414 00:20:33,880 --> 00:20:37,800 Speaker 2: relationship with Pharrell, why he's doing it, just saying it, 415 00:20:37,880 --> 00:20:39,240 Speaker 2: just dropping the bread crumbs. 416 00:20:39,320 --> 00:20:44,320 Speaker 3: Absolutely, come on down. That'stment well spent in your time, right. 417 00:20:44,480 --> 00:20:46,680 Speaker 3: But also you got to ask yourself, based off of 418 00:20:46,720 --> 00:20:48,159 Speaker 3: where you are right now, do you want to be 419 00:20:48,200 --> 00:20:50,679 Speaker 3: in that same position this time next year? And if 420 00:20:50,680 --> 00:20:53,200 Speaker 3: the answer is no, like I need growth happening in 421 00:20:53,240 --> 00:20:56,600 Speaker 3: the next year. So I'm a different person. My bank 422 00:20:56,640 --> 00:21:00,000 Speaker 3: account looks different, my business looks different, my household looks different. 423 00:21:00,000 --> 00:21:01,639 Speaker 3: As a result of that thing, you probably need to 424 00:21:01,680 --> 00:21:04,280 Speaker 3: say yes of figuring out a way to get to 425 00:21:04,320 --> 00:21:06,080 Speaker 3: the Fundable Founder's Forum, and now. 426 00:21:06,359 --> 00:21:10,920 Speaker 2: It's a program for you Black and Latino entrepreneurs. It's 427 00:21:10,960 --> 00:21:15,399 Speaker 2: broken down into categories. Again, this is like spreading the 428 00:21:15,440 --> 00:21:19,800 Speaker 2: word acknowledging that this campaign has been around. That's why 429 00:21:19,840 --> 00:21:22,520 Speaker 2: I'm on fire to get the word out because my 430 00:21:22,640 --> 00:21:28,440 Speaker 2: shore it's about small business, nonprofits, entrepreneurs, tech, financial literacy, 431 00:21:28,720 --> 00:21:31,639 Speaker 2: and this false right in line with it. But more importantly, 432 00:21:31,880 --> 00:21:34,040 Speaker 2: for Lisha, You're fantastic. You're amazing. 433 00:21:34,440 --> 00:21:37,119 Speaker 3: Thank you so much for the invitation, thank you for 434 00:21:37,359 --> 00:21:39,040 Speaker 3: just being sacred in. 435 00:21:39,000 --> 00:21:40,960 Speaker 4: The space of being a storyteller. 436 00:21:42,000 --> 00:21:45,119 Speaker 3: And I saw you by your brand architect of opportunities 437 00:21:45,119 --> 00:21:47,160 Speaker 3: for entrepreneurs, and so thank you so much for what 438 00:21:47,240 --> 00:21:49,720 Speaker 3: you do and just allowing us to kind of share 439 00:21:50,320 --> 00:21:53,840 Speaker 3: where this can kind of impact way more entrepreneurs when 440 00:21:53,840 --> 00:21:54,280 Speaker 3: they get. 441 00:21:54,119 --> 00:21:54,480 Speaker 4: In the room. 442 00:21:54,520 --> 00:21:58,520 Speaker 2: Again, our launched was amazing and you are even more amazing. 443 00:21:58,840 --> 00:22:02,600 Speaker 2: I'm talking to the c oh A Black Ambition Felicia Hatcher. 444 00:22:02,680 --> 00:22:04,800 Speaker 2: Thank you for coming on Money Making Conversations Masterclass. 445 00:22:05,320 --> 00:22:05,840 Speaker 4: Thank you. 446 00:22:07,480 --> 00:22:11,520 Speaker 2: This has been Money Making Conversations Masterclass with me Rashaun McDonald. 447 00:22:11,920 --> 00:22:13,840 Speaker 1: Thanks to our guests and our audience. 448 00:22:14,200 --> 00:22:18,679 Speaker 2: Visit Moneymakingconversations dot com to listen or register to be 449 00:22:18,720 --> 00:22:19,840 Speaker 2: a guest on my show. 450 00:22:20,280 --> 00:22:22,520 Speaker 1: Keep leading with your gifts, keep winning,