GROW: Wealth Starts Within for Black-Owned Businesses

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Issue #97 - August 12

Welcome!

Hey G-Tribe! For new faces joining us, the G-Tribe represents our GROW Tribe. We're a community united by Guidance that Redefines Our Way. We're people who believe that true strength comes from lifting each other while building something that lasts.

So I was talking to a friend of mine last weekend about the upcoming football season, and we started this whole debate about whether Lamar Jackson or Josh Allen is the better quarterback. We're going back and forth about arm strength, mobility, leadership styles, and playoff records. Thirty minutes of deep analysis about these two guys' careers and what makes them successful.

Then it hits me. We'll spend hours breaking down what makes athletes successful, but how much time do we spend understanding the real success stories happening in our communities? Like the Black entrepreneurs building empires while we're debating touchdown passes.

August is National Black Business Month, and here's what blew my mind. Black entrepreneurs are creating wealth at twice the national rate while getting less than 1% of venture capital funding. That's like Lamar Jackson winning MVP while playing with a high school offensive line. The fact that it's happening at all should tell you something about the level of talent and determination we're talking about.

This week, we're diving into what it takes to build wealth when the system isn't designed to help you win. We're looking at the mindset that separates the survivors from the empire builders. We're exploring how supporting Black businesses goes way deeper than posting about them on social media for one month.

Most importantly, we're celebrating the entrepreneurs who are proving that success isn't about fitting into existing systems. It's about creating better ones.

Let's GO!

🌱 Growth Spotlight: Mindset of a Mogul - The Discipline Behind the Hustle

You know the difference between someone who plays video games for fun and someone who becomes a professional gamer? It's not just skill. The pro gamer thinks about every move as part of a larger strategy. They study replays. They practice scenarios that casual players never even consider.

That's exactly what separates Black entrepreneurs who build empires from those who just get by. They're playing the same game but with a completely different mindset.

The Reality Check Nobody Talks About

Here's an interesting stat for you. Black entrepreneurs start businesses at twice the rate of everyone else but get less than 1% of venture capital funding. That's like being the most talented players on the field but having to bring your own equipment while everyone else gets the premium gear delivered to their doorstep.

Three Mental Shifts That Change Everything

• They Think in Decades Not Dollars - Most people start businesses hoping to quit their day job next year. Oprah was thinking about building a media empire before most people even knew what that meant. Fun fact about Oprah, most people don't know - she still reads every issue of O Magazine before it goes to print. After 20+ years. That's legacy thinking in action.

• They Build Ecosystems Not Just Businesses - Tyler Perry could have just made movies and called it a day. Instead, he built an entire studio complex in Atlanta. Now here's the part that gets me - he specifically designed it so other creators could use the facilities. The man literally built his competition a place to work. That's not just good business. That's generational thinking.

• They Turn Rejection Into Rocket Fuel - Daymond John got told "no" by every major retailer when he started FUBU. Most people would have given up and gone back to their regular jobs. Daymond said, "Fine, I'll build my own distribution network." Plot twist - those same retailers ended up begging him to let them carry his brand. Sometimes the best revenge is massive success.

Here's What This Means for Your Life

Whether you're building a business or climbing the corporate ladder, these aren't just entrepreneurship lessons. They're life lessons about thinking bigger than your current circumstances.

Stop asking "How can I fit into what already exists?" Start asking, "What can I create that doesn't exist yet?" The people who change the world don't just play the game better. They create entirely new games.

💼 Professional Growth Gateway: Supporting Black-Owned Businesses with More than Dollars

Let's talk about something that bothers me. Every February and August, we see campaigns encouraging people to support Black-owned businesses. People post on social media. They buy a few products. They feel good about themselves.

Then they go back to their regular shopping habits.

Real support goes deeper than purchases. It's about creating relationships that help these businesses grow and thrive year-round.

Beyond the Purchase

Here's what I've learned from talking to Black business owners. They don't just need customers. They need advocates. They don't just need sales. They need systems for growth.

A one-time purchase helps for that month. A referral to three friends helps for that quarter. But connecting them with suppliers, distributors, or strategic partners can change their entire trajectory.

Ways to Create Real Impact

Professional Networks Matter More Than You Think

If you work in corporate America, you have access to networks that many Black entrepreneurs don't. Introduce them to procurement officers. Connect them with decision makers. Open doors that they can't reach on their own.

I know a marketing executive who introduced a Black-owned catering company to her company's event planning team. That one introduction led to a five-year contract worth over $2 million.

Share Knowledge and Resources

You know things that could help Black business owners scale faster. Industry connections. Vendor relationships. Best practices that you take for granted.

Offer to review their business plan. Share your expertise in areas where they're struggling. Connect them with accountants, lawyers, or consultants who understand their specific challenges.

Amplify Their Success Stories

Social media is powerful, but most people use it wrong. Instead of just posting about products, share the stories behind the businesses. Could you talk about the problems they're solving? Explain why their success matters to the community.

When you share their story, you're not just marketing their product. You're building their brand.

Long-term Partnership Thinking

The Black entrepreneurs who succeed don't just need customers today. They need partners for tomorrow. Think about how your business or career can create ongoing opportunities for collaboration.

Maybe it's mentoring. Perhaps it's joint ventures. Maybe it's connecting them with investors who share their vision for long-term growth.

The Compound Effect

Here's what happens when you support Black-owned businesses strategically. They grow. They hire more people. They reinvest in their communities. They become customers for other Black-owned businesses.

You don't just help one business. You help build an entire ecosystem of success.

That's how you create generational change.

🌟 Success Spotlight: Business Mentors Fueling the Next Generation

Let me tell you about a man who's changing lives one entrepreneur at a time.

The Mentor Who Builds Millionaires

Robert Smith isn't just successful. He's systematic about creating success for others. As the founder and CEO of Vista Equity Partners, he's built a private equity firm worth over $100 billion. But here's what makes him different.

He doesn't just make money. He makes sure other Black entrepreneurs get the knowledge and connections they need to build their empires.

Through his mentorship programs, Smith has directly influenced the success of over 200 Black business owners. Not just with money, although he's invested plenty. With strategy. With connections. With the kind of practical wisdom that only comes from building something massive.

Smith focuses on teaching entrepreneurs how to think about scale from the beginning, how to build systems that can handle rapid growth. How to navigate investor relationships when you're one of the few Black faces in the room.

One of his mentees started a software company that Smith's firm eventually acquired for $500 million. But the real success was watching that entrepreneur use his exit to start an investment fund focused on Black tech founders.

What Makes Great Business Mentors Different

They Share the Playbook

Average mentors give advice. Great mentors share their actual systems. They show you their processes for evaluating opportunities, managing cash flow, and scaling teams.

Smith doesn't just tell entrepreneurs to "think big." He shows them the financial models and strategic frameworks that Vista uses to evaluate billion-dollar opportunities.

They Open Their Networks

Access to the right people can be worth more than access to capital. Great mentors don't just give you knowledge. They give you introductions to the people who can help you use that knowledge.

When Smith introduces an entrepreneur to a potential partner or investor, it comes with his endorsement. That changes everything about how those conversations go.

They Focus on Systems, Not Just Success

Anyone can get lucky once. Great mentors teach you how to create repeatable success. They help you build systems that work whether you're managing a $100,000 business or a $100 million business.

The Ripple Effect

Here's what happens when successful Black entrepreneurs mentor others systematically. Those mentees become successful. Then they mentor others—the knowledge multiplies. The networks expand. The wealth compounds across generations.

Smith's mentees have gone on to start companies, funds, and foundations that have created thousands of jobs and billions in value. That's not just business success. That's community transformation.

What You Can Learn

Whether you're seeking mentorship or thinking about becoming a mentor yourself, the lesson is clear. Focus on systems, not just stories. Build relationships, not just transactions. Think about legacy, not just profit.

The most successful entrepreneurs understand that their biggest impact comes from multiplying their knowledge through others.

🔥 Michael's Hot Take: Entrepreneurship Is a Form of Resistance

Every time someone starts a Black-owned business, they're making a statement that goes beyond profit and loss. They're saying, "I refuse to wait for permission to build wealth." They're saying, "I won't accept the limits that society tries to place on my potential."

That's not just business. That's resistance.

The History Behind the Hustle

Let me give you some context that might change how you think about Black entrepreneurship. After the Civil War, when formerly enslaved people were legally free to start businesses, they created thriving communities across the South. Places like Black Wall Street in Tulsa, where Black-owned banks, hotels, and shops created generational wealth.

Those communities were systematically destroyed not by market forces but by violence and discriminatory laws designed to prevent Black economic independence.

The Black entrepreneurs you see today aren't just building businesses. They're rebuilding what was taken away. They're creating the economic foundation that should have been passed down through generations.

Modern Barriers That Still Exist

Here's what frustrates me. People like to pretend that entrepreneurship is a level playing field now. That anyone with a good idea and a strong work ethic can succeed.

The numbers tell a different story. Black business owners are still 3 times more likely to be denied business loans even when they have the same credit profiles as white applicants. They receive less than 1% of venture capital funding despite starting businesses at twice the national rate.

When a Black entrepreneur succeeds, they often have to overcome obstacles that others never face. That makes their success even more impressive, not less.

Why This Matters for Everyone

Here's the thing about resistance. When people fight for their right to build wealth, it creates opportunities for everyone. Black entrepreneurs often serve communities that larger companies ignore. They create jobs in areas that need economic development. They solve problems that others don't even see.

When Tyler Perry built his studio in Atlanta, he didn't just create jobs for actors and directors. He created opportunities for caterers, security guards, accountants, and dozens of other service providers. Some of those people started their own businesses to serve his operation.

That's not just Black people helping Black people. That's economic development that benefits entire communities.

The Compound Effect of Economic Resistance

Every successful Black-owned business proves that the systems designed to limit opportunity don't have to win. Every Black entrepreneur who builds wealth shows the next generation what's possible.

But more than that, they create the infrastructure for others to succeed. Black-owned banks that understand the challenges Black entrepreneurs face. Black-owned investment firms that fund businesses that traditional investors overlook. Black-owned media companies that tell stories that mainstream media ignores.

Your Role in This Movement

Whether you're Black or not, you have a role to play in this form of resistance. When you support Black-owned businesses strategically, you're not just making a purchase. You're making a statement about the kind of economy you want to live in.

You're saying that success should be based on merit, not access. That wealth should be built on innovation, not inheritance. Entrepreneurship should be about creating opportunities for everyone, not just the privileged few.

The Bottom Line

Every time a Black entrepreneur builds something lasting, they're not just creating wealth for themselves. They're creating proof that the systems designed to limit opportunity can be overcome.

They're showing that resistance doesn't have to be loud or angry. Sometimes the most potent form of resistance is quiet and consistent. Building something excellent. Creating value that can't be ignored. Generating wealth that can't be taken away.

That's not just good business. That's changing the world one entrepreneur at a time.

G-Tribe Business Support Challenge Poll

We all say we want to support Black-owned businesses, but let's be honest about how we actually spend our money. Time for some real talk about where our dollars go.