Business and Finance
How This Financial Expert Went From Welfare to Millionaire
Alfred Nickson, who went from welfare to millionaire by age 25, has dedicated his profession to educating hundreds of African Americans about constructing wealth.
Now 31, the financial expert has mentored greater than 100 six-figure earners and his mother retired.
“Wherever you are, be ready to swing the bat,” Nickson told BLACK ENTREPRENEURSHIP“You can’t hit a home run if you don’t swing. I put myself in a position where I not only swung the bat, but I wanted to put people in a position to win. So I put people on base.”
He continued, “When I swing the bat, I don’t just hit a home run. I hit a grand slam. That means everyone who was on base and in position got to go home and taste success. I encourage everyone to swing the bat so you can hit your home run, too.”
Nickson began exploring home-based business shortly after highschool. The young entrepreneur earned a complete of $1,500 in his first three years of entrepreneurship. Despite a scarcity of funds and folks telling him to consider getting a “real job” and going to school, he wouldn’t stop.
In his fourth 12 months, Nickson made his first six figures by leveraging his passion for financial literacy. A number of years later, Nickson hit the million-dollar mark.
Nickson encourages anyone looking to improve their financial situation this 12 months to think outside the box and do these three things.
Go from Prosperity to Wealth by Starting with Assets
Knowledge is power. When you already know where you’re financially, you possibly can determine exactly how much money you would like to get to where you would like to be.
Nickson suggests creating an inventory of the whole lot you own. This list represents your assets.
“These could be tangible items like a vehicle or jewelry, stocks, bonds, or life insurance policies,” Nickson says in an email. “Even a pair of gold earrings can be added to an asset and is better than no assets at all.”
Nickson meets along with his team every month to get a greater picture of his net value. That number is how much you own (assets) minus how much you owe (liabilities). That’s the magic number that wealthy people use to gauge their financial health. Nickson also suggests having a superb tax strategy to show you how to keep more of the cash you earn.
Sign up for all times insurance
Seeing that so many individuals in his community had a GoFundMe account, Nickson decided to educate more people about life insurance.
“Who needs life insurance? Everyone.”
Life insurance should not be limited to death advantages. It will also be used as a wealth-building strategy.
“Choose between whole life and term life insurance,” says Nickson. “Term life insurance is more valuable and generally costs less per month. Both can provide millions of dollars to your loved ones when you die.”
In addition to life insurance, Nickson says wills and trusts also needs to be a part of your financial statement.
Earn extra cash to go from welfare to wealth
Nickson recommends starting a home-based business since the infrastructure is already there. He says the barriers to entry are low and anyone can start with just just a few hundred dollars. The better part is which you could start earning money straight away.
In his first 12 months, Nickson hit six figures. In his second 12 months, he hit greater than half 1,000,000 dollars. In his third 12 months within the finance industry, he made his first million dollars.
How to Get Started on Your Home Business Path? Identify What You’re Passionate About.
“If you’re passionate about something, you put your heart into it,” Nickson says.
Business and Finance
Daymond John celebrates the fifth annual Black Entrepreneurs Day
Daymond John will have a good time the fifth anniversary of Black Entrepreneurs Day in Atlanta for the first time.
November 22, John’s signature Black Entrepreneur Day (BED) will take over Atlanta’s historic Fox Theater to have a good time Black Excellence and Opportunity. This 12 months’s event is free for all to attend and includes brand activations that enable participants to reinforce their business and brand for the foreseeable future.
From insightful discussions with inspiring guests to the NAACP Small Business Powershift Grant Program, which can award over $1 million in grants to over 40 Black-owned businesses, Black Entrepreneurs Day offers the whole lot a Black business owner needs to raise take your corporation to the next level the next level. This 12 months’s event is special for John; In addition to hosting BED in Atlanta for the first time, the event shall be streamed live for all to enjoy.
“We’re doing it live this year and we’re always trying to improve what we have,” John says BLACK ENTERPRISES.
“I think we added another element to it called ‘Entrepreneur Square,’ where if you want to come early, you can come in and a company like Constant Contact takes photos. Hilton for Business, Chase, Chase Wealth Management is there, US Navy. You add a lot of different things to it.”
It shall be a star-studded event featuring Grammy-winning artist and philanthropist Kelly Rowland, iconic artist Flavor Flav, influential media personality Charlamagne tha God, Olympic gymnast Jordan Chiles (presented by JP Morgan Wealth Management), financial educators Rashad Bilal and Troy Millings with “Earn Your Leisure” and a live performance by multi-platinum Atlanta rapper 2Chainz presented by Raising Cane’s.
Through the NAACP small business Powershift grant program, entrepreneurs can do exactly that use to the Powershift Grant program and grow to be one in every of 40 firms awarded a share of grants value over $1 million. This 12 months, partners including JPMorgan Chase, Hilton, T-Mobile for Business and Constant Contact will contribute a complete of $100,000 in grants, with each grant valued at $25,000.
“We are very passionate about what we do,” John says of the Black community. “I think we can now gain more power by democratizing the retail space with solutions like artificial intelligence and social media. Let’s support each other and support each other.”
Given the strong sponsorship support for BED 2024, John sees it as clear evidence that giant corporations recognize the value of investing in the Black community, even in the face of opposition from anti-DEI efforts.
“There are many other cultures that love to support us as well. They love our music, they love our food, they love everything about us and they just want to know how they can support us,” notes John.
“I think if we look at it this way, it means we can never gain or thrive on our shortcomings, but we can always find those gems and ways to grow from what we are. We are a resilient nation loved by all.”
Launched in 2020 to handle the challenges facing the community in the wake of the events surrounding George Floyd, Black Entrepreneurs Day was established to shift the focus from hardship to empowerment. Designed to uplift Black entrepreneurs, the event goals to teach and encourage through conversations with iconic Black leaders and celebrity guests, features celebrity musical performances and offers key financial support through the NAACP Powershift Grant program.
Tickets for Black Entrepreneurs Day 2024 are free and may be purchased at: BlackEntrepreneursDay.com Now. Press play to learn more about this 12 months’s event.
Business and Finance
Black Girl Digital on a mission to empower diverse creators
Meet Black Girl Digital (BGD Media), one among the fastest-growing multicultural, independent marketing agencies within the makerspace, is led by two dynamic Black women entrepreneurs.
Founded and led by CEO LaToya Shambo and CMO Latoya Bond, Digital black girl goals to deliver revolutionary, data-driven marketing solutions tailored to the brands and creators who’re shaping the longer term of promoting and commerce. With a long time of combined experience, these two business leaders have come together to create an agency uniquely equipped to navigate the complexities of multicultural marketing.
“The mission of Black Girl Digital is really about how to bring brand and creators together to go beyond partnerships and build a deeper relationship,” says Shambo BLACK ENTERPRISES.
The pair first met while collaborating on the 2023 Black Girl Digital Awards. While many individuals discuss women competing in business, Shambo and Bond saw a chance to mix their strengths and platforms.
“We went through the process of working together and I saw her talent and she saw my talent. We noticed that we both had these unique skills that worked really well together,” Shambo says.
Combining Black Girl Digital’s expertise in influencer marketing with the BBM Agency’s strength in celebrity business management, BGD Media is uniquely equipped to handle the intricacies of multicultural marketing.
“Because her company was more involved in paid marketing, brand management and communications strategy, it really complemented what we did on the Black Girl Digital side, through partnerships with corporate brands and diverse creators,” Shambo explains.
“Together, we have been able to join forces and offer our brands and creators a full range of media and marketing services, thanks to which the partnership goes deeper rather than superficial.”
Shambo attributes BGD Media’s success to its multimarketing service offering that “brings the customer closer to the creator and the creator closer to the customer.” One of the newest initiatives is the inaugural Black Influencer Weekend, which goals to showcase to major brands and corporations how Black creators are usually not only setting trends, but additionally driving significant cultural and economic change across industries.
During the three-day event, over 1,500 participants engaged in vigorous discussions and activations focused on community, connection and variety amongst creators. Highlights included the VIP Creator Games Night featuring bowling competitions and life-size Connect 4 video games, creating what Shambo describes as a “creator playland.”
On October 2, participants took part in a day stuffed with inspiring and influential discussions in the course of the Influencer Summit. Speakers included media personality Yandy Smith; creative director of beauty and lifestyle Tiarra Monet; and NCAA champion and ladies’s basketball coach Sydney Carter. Conversations covered topics equivalent to balancing a profession outside of social media, maintaining mental health, and constructing meaningful partnerships.
The weekend concluded with the third annual Black Girl Digital Awards, where content creators equivalent to Druski, Monet McMichael and Kai Cenat were honored for his or her power, position and recognition across various platforms. Additionally, business leaders equivalent to Yandy Smith, Marvet Britto and Mona Scott-Young have been recognized as pioneers of influence and visionaries redefining the digital landscape.
At its core, Black Girl Digital is about tackling the complexities of multicultural marketing, demonstrating that representation matters and that success comes when brands connect with communities on a human and private level.
“It’s not a monolith. This is not just one group of Black people. There are many people and many cultures in the Black community,” Shambo says. “Being able to express it. But that’s really why brands work with us. Because we are able to accommodate the different cultures found in each community.”
“We also mainly focus on the passion points and interests of audiences in these communities,” she added.
What’s next for Black Girl Digital? Shambo seeks global domination.
“These will be the Global Influencer Awards,” he says.
Business and Finance
Snoop Dogg leads Martha Stewart in the art of negotiation
Martha Stewart and Snoop Dogg have been the strangest couple for several years. Stewart recently spoke along with her and revealed that the “Drop It Like It’s Hot” rapper can be advising her on business negotiations.
The host praised Snoop’s business sense and positive personal qualities.
“He’s curious, he’s a great student, he’s a phenomenal negotiator (he taught me a lot), he’s tough and he’s incredibly sweet,” Stewart said.
She shared that Snoop often takes the lead in the case of negotiating the terms of their joint business ventures.
“We do a lot of work together and I wait until he negotiates the contract and then I go and follow him.”
While Steward considers Snoop to be a precious asset in business and friendship, Snoop spoke about their willingness to pass on opportunities to one another. One example is Snoop’s partnership with Skechers, which got here about in part because Stewart bypassed Snoop’s team and showed them the value of working with the brand.
“There were a lot of calls where she called me and said, ‘Snoop, I was trying to get you to do a deal with Skechers, but your people were in the middle. They didn’t want to do it. I say, “Really?” She said, “Yeah, you should mess with them.” Look at my shoes.’”
Likewise “The Dog’s Father”. contacted Marta partner with 19 Crimes on wine.
“On the other hand, I have a deal for 19 Crimes wine, red wine, we’re off. Boom, boom, boom. Hey Marta, what’s going on? You don’t have a wine deal. Do you want to come here and play with us?”
It looks like this odd couple has an actual relationship. They were spotted at the 2024 Paris Olympics supporting American athletes and even took some outing to ride horses.
Snoop Dogg has come a great distance since the beginnings of his rap profession. The musician is now a full-fledged businessman almost 30 years after his rap debut.
BLACK ENTERPRISES reported that Snoop is resting during a turbulent period in his life and profession, together with his criminal case involving the murder of a 20-year-old gang member closed.
Snoop was charged with voluntary manslaughter in 1993. The charges hung over his head until his acquittal in 1996. The record has been released to the public for the past 30 years, but Snoop will now not should worry about his legacy for posterity.
“Once the records are sealed, they will be hidden from public access and in most cases the defendant will receive back their fingerprints, booking photos and DNA samples, According to to the New York State Unified Judicial System.”
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