BlackStartup: The African American Solution To Crowdfunding
Business 05-19-2013 Hits:615
newsone

In the past five years, crowdfunding sites like Kickstarter and Indiegogo have revolutionized the way entrepreneurs go about raising capital for new business ventures. Although these sites have helped turn countless of startup pipe-dreams into a reality, a significant number of entrepreneurs, Blacks in particular, aren’t necessarily feeling the same love…until now. “I think it is important that we encourage non-profits and social enterprises to raise resources on our platform to address social problems facing the African-American community,” BlackStartup CEO Nathan Bennett-Fleming told NewsOne. BlackStartup takes a standard approach to crowdfunding: Each project featured on the platform is accompanied with a project description, specific goals, and a background on the founders. And similar to other sites, participants only receive the money if they reach their complete goal. ”There is no specific type of businesses that we are attempting to promote. We want to support projects, ideas, and causes that are broadly connected to the African-American community,” said Bennett-Fleming. The site’s Monday launch premiered with seven projects, including a math curriculum taught through playing the piano, a family business that makes homemade hair products, and a website featuring social commentary on daily news. The Washington, D.C.-based company has had no problem gaining praise and capital, with the site snagging the coveted Yale Entrepreneur Institute’s Fellowship, which doles out $20,000 in capital seed money, an elite mentor, and a 10-week boot camp in New Haven, Ct. While BlackStartup focuses primarily on supporting Black causes through funding, Bennett-Fleming says he and the founders have the ultimate goal of expanding to help other marginalized groups. ”We are considering broadening our approach to include other minority groups on our platform,” he said. ”We want to use these new technologies to address the Black entrepreneurial gap, the Black opportunity gap, and other economic challenges facing the Black community as well as other marginalized communities.”
Read morePancakes & Politics: Promoting Regional Cooperation
Business - Original 05-17-2013 Hits:155

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Introducing Voo Vodka, first black-owned premium vodka
Business - Original 05-17-2013 Hits:618
Teia B. Harris

Entering the market is Voo Vodka a premiere spirit distilled in Michigan and available for purchase in Michigan and Nevada today. The vodka is one of the only vodkas created by an African American and was produced to have the smoothest taste with a mixer optional. The name Voo Vodka was derived from the word déjà vu and with one sip of this fine ultra premium vodka, a flashback of all the great times in life should occur and most importantly create new ones. “Voo Vodka was created with a connoisseur in mind,” says founder DeCarlos Stewart.Voo Ultra Premium Vodka is one of the only vodkas that's distilled eight times from grain which ultimately creates a smooth texture and sweet flavor. The other leading premium vodkas on the market is distilled five times and is usually imported from other countries while Voo Vodka is distilled in the United States at a family owned distillery in Michigan. During the initial launch Voo Vodka will be available for purchase across Nevada and Michigan but will be expanding to Illinois, Florida, California, New York, and Georgia in the next couple months. The first bottle is offered in 750 ml and comes with a Voo Life VIP card which will gain people living the “Voo Life” V.I.P. Access, special discounts, entry access and more to Voo Vodkaevents and participating establishments. During the initial launch Voo Vodka will be launching a guerilla style promotional campaign filled with models, billboards, car wraps and more as well as donating a portion of the proceeds to help bring technology to disadvantage children. Please visit: drinkvoo.com for more information.
Read moreMichigan has highest unemployment rate for African Americans in nation
Business 05-16-2013 Hits:970
Judy Putnam, Michigan League for Public Policy

Michigan workers were hit hard by the Great Recession but the state’s African American workers continue to suffer a far higher unemployment rate, a new Economic Policy Institute Issue Brief finds, with Michigan’s black unemployment rate the highest among the 24 states where it can be measured. In Ongoing Joblessness in Michigan: Unemployment rate for African Americans tops in nation, more than double the state’s white rate, EPI researchers Douglas Hall and Mary Gable find that the African American unemployment rate in Michigan reached 18.7 percent—nearly one in five of the state’s black workers—in the fourth quarter of 2012, about two-and-a-half times that of the white unemployment rate of 7.5 percent. The black unemployment rate in Michigan was 4.7 percentage points higher than the national black unemployment rate of 14 percent and ranked highest among the 24 states with large enough black populations to measure unemployment. Michigan’s white unemployment rate was ninth highest in the nation. “This is an alarming trend that highlights the growing inequity in our state,’’ said Michigan League for Public Policy President & CEO Gilda Z. Jacobs. “For Michigan to recover from the very long recession we’ve suffered, we need an economy that works for all. Policymakers must address this tremendous disparity.’’ Black unemployment is concentrated in urban areas with very high unemployment rates and few job opportunities. In such a job environment, it is difficult to find work. In 2012, 46.5% of unemployed black workers were unemployed for more than 26 weeks—much higher than the share of white unemployed workers (41.6%) who are long-term unemployed. In 2011, the Michigan Legislature cut the weeks of available Unemployment Insurance from 26 weeks to 20 weeks, causing hardship for many unemployed black workers as they continue to look for work. “Until our state recovers, the Michigan Legislature needs to restore the traditional period of unemployment benefits...
Read more10 Things Every Customer Wants
Business 05-16-2013 Hits:372
Randy Greenberg

Why does a customer buy from one vendor rather than another? According to research recently conducted by The Rain Group, customers tend to buy from sellers who are superlative at the following tasks: 1. Bring New Perspectives and Ideas If customers could diagnose their own problems and come up with workable solutions on their own, they would do so. The reason that they're turning to you and your firm is that they're stuck and need your help. Therefore, you must be able to bring something new to the table. 2. Be Willing to Collaborate Customers absolutely do NOT want you to sell them something, even something that's wonderful. They want you to work with them to achieve a mutual goal, by being responsive to the customer's concerns and ways of doing business. Ideally, customers want you to become integral to their success. 3. Have Confidence In Your Ability to Achieve Results Customers will not buy from you if you can't persuade them that you, your firm, and your firms offerings will truly achieve the promised results. It is nearly impossible to persuade a customer to believe in these things unless you yourself believe in them. You must make your confidence contagious. 4. Listen, Really Listen, to the Customer When they're describing themselves and their needs, customers sense immediately when somebody is just waiting for a break in the conversation in order to launch into a sales pitch. In order to really listen, you must suppress your own inner-voice and forget your goals. It's about the customer, not about you. 5. Understand ALL the Customer's Needs It's not enough to "connect the dots" between customer needs and your company's offering. You must also connect with the individuals who will be affected by your offering, and understand how buying from you will satisfy their personal needs, like career advancement and job security. 6. Help the Customer Avoid Potential Pitfalls Here's...
Read moreBusiness leaders honored by NASP
Business - Original 05-15-2013 Hits:278
Damon Autry

The National Association of Securities Professionals (NASP) recently honored five business leaders during its seventh annual ceremony and scholarship banquet fundraiser at the Detroit Athletic Club. More than 300 NASP members, supporters and guests helped celebrate what NASP called Encore VII – “Together We Rise!” Proceeds from the event go toward scholarships for financially-challenged college students from Metro Detroit. Each honoree was recognized with a special award. They include: the NEXT.com Award, given to Glenda Gill, executive director, Rainbow Push Automotive Project; the Measure of Excellence Award, presented to Richard Charlton, chair and founder of New England Pension Consultants; Lorenzo Moner, chairman of Wayne County Employment Retirement Systems, received the Unsung Hero Award. NASP also recognized Chris Jackson, partner with Queen Lillian Development, with the Maverick Award, and David Clark, chairman of Detroit General Retirement Systems, with the Legend Award. “It is an amazing task for NASP to recognize five of Detroit’s highly notable men and women and award them individually for their countless achievements and years of remarkable service in their respective fields,” Kathleen Colin said. Colin is president of NASP’s Detroit chapter, as well as director of investments for Oppenheimer & Co. During her tenure with the Rainbow Push Automotive Project, Glenda Gill has made it her life’s work to fight for total inclusion in the automotive industry for people of color and women. And while she doesn’t perform her tasks to garner attention or pats on the back, Gill is nonetheless humbled by being recognized for her efforts. “This honor means a lot to me,” she said. “It means that my work matters. Sometimes when you’re involved in the work, you don’t stop to reflect on the accomplishments of the work. So when people outside your core recognize you for what you do, it tells you that you’re truly making...
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