Business and Finance
5 Ways to Focus on Money
Teri Williams is the CEO and owner of the biggest black-owned bank in America, One United. She is a Harvard Business School graduate, a mother of two, and has been married for 25 years. OneUnited manages greater than $620 million in assets and this summer launched a social media campaign that has caught the eye of a lot of A-list celebrities.
OneUnited Bank has over $620 million in assets under management. This conversation is less about how to earn more money and more about howImprove your attitude towards money. During my time at Williams I learned five things ways to increase my wealth mentality:
Leave room for probability
Williams admitted to being a Type An individual, but has found that her biggest opportunities come from “staying open to possibilities.”
Teri Williams’ vision of shopping for a bank was never on the board. “My sole purpose was to provide economic empowerment to African Americans. I didn’t know how I was going to accomplish that big of a goal,” Williams says.
When her husband first proposed buying the bank, she thought it was an extended shot. Well, the long shot resulted in the ability couple buying three smaller banks and mixing them right into a nationwide umbrella, now referred to as OneUnited. The name was chosen to reflect the vision of uniting banks and the black community.
Williams says a part of her process isn’t really about owning it. “For me, it’s about recognizing that you don’t know what you don’t know. In fact, if I had my process laid out that way, I would have shut myself off from people reaching out to me and educating me on ways to do things better,” Williams says.
Williams took an identical approach when she enrolled at Brown University.
“I had no idea what an Ivy League university was,” she admits. “I went to Brown University on the recommendation of a family friend and simply because they offered me the most money. But it was at Brown that I was inspired by my peers who wanted to become judges, international lawyers, and doctors. That started to question my initial career interest in becoming a teacher. After hearing all of their ambitions, I decided that studying economics would be a better fit.”
Your teachers are in every single place
Williams says that although she was proud to be top of her class at Harvard Business School, have an MBA and work in corporate America, she owes her business talent to her great-grandmother, Anna Coachman, affectionately referred to as “Ma-honey.”
Ma-Honey had a portfolio of properties: a juke joint, a candy store and a barbecue grill within the Nineteen Fifties. (*5*) Williams says. “We should never forget where we came from. Always remember that you are someone’s child, someone’s grandchild and someone’s great-grandchild, and those relationships can be the foundation of your success.”
Where you come from doesn’t determine where you are going!
I’ve heard many stories concerning the rags to riches rise to power, but Williams’ story was still a motivation to make cash. There was a way of possibility within the room as she spoke of her humble beginnings in Indiantown, Florida, where the median income is now $28,000 for a population of 6,850, according to 2010 U.S. Census data.
Yet Teri Williams is now the CEO and owner of the biggest black-owned bank in America, with $620 million in assets under management across banking offices in Miami, Boston and Los Angeles. She attributes her success to a disciplined lifetime of prayer for guidance and the strength to act on that guidance when it’s given.
Stay curious
Although Williams was the primary in her family to graduate from college, her parents played a big role in fueling her curiosity. One family tradition that Williams found encouraging was Sunday drives together with her family. Despite their limited financial resources, Williams’ parents felt it was essential to see the opposite side of the town.
During these trips, Williams says she began looking the windows of homes and wondering: “Who lived in these houses, how did they get here, what did they do to live like this, why do these people have a lot and why don’t we live like that, and what drives them?
A seed was planted. Williams says that since then, curiosity has driven her to understand why some individuals are wealthy and others aren’t, and what drove them in a single direction or one other. Those drives not only gave Williams curiosity, but additionally a way of confidence: “If they will do it, I can do it.
Your goal will grow with you
“My goal of economic empowerment for African Americans — that’s a growing goal. That’s a goal that I’m committed to from now until the day I die,” Williams says.
In August 2016 #BankBlack challengereleased by Atlanta rapper Killer Mike, prompted black America to pour $10 million into the bank in lower than a month. In that point, OneUnited went from opening fewer than 50 accounts a day to greater than 1,000 a day.
“You can’t know everything at the beginning. But if you keep going and listen to the clues, you’ll find them wherever you are,” Williams says.
Business and Finance
David Shands and Donni Wiggins host the “My First Million” conference at ATL
December is the birth month of David Shands and Donnie Wiggins, friends and business partners. Most people have fun by throwing a celebration. Others imagine it must be catered for. The chosen ones spend the day relaxing in peace and quiet.
Then there’s Shands and Wiggins.
The two decided that the best birthday gift can be to offer individuals with resources for generational wealth through a conference called “My first million”in Atlanta.
It’s a compromise between how their families and family members need to honor them and their desire to proceed to serve others. Shands acknowledges that almost all people won’t understand, and he unapologetically doesn’t expect them to.
“It’s not up to us to convince anyone why we do what we do,” admits Shands.
“I think everyone does what they do for different reasons, and I would just attribute it to a sense of accomplishment that I can’t explain to anyone else.”
He doesn’t need to clarify this to Wiggins because she understands his feelings. Wiggins has had a passion for serving others for so long as she will be able to remember.
“When I was in middle school, there were child sponsorship ads on TV featuring children from third world countries. I was earning money at the time and I asked my mother to send money,” she says BLACK ENTERPRISES.
She recalls how sad she felt for youngsters living in a world with so many opportunities, but at the same time going hungry. Her mother allowed her to send money, and in return she received letters informing her of their progress.
“It was very real to me,” Wiggins says, now admitting she’s undecided the letters were authentic. “I received a letter from the child I sponsored, a photograph and some updates throughout the 12 months. It was such a sense of being overwhelmed and it was something I felt so good about. I didn’t even tell my friends I used to be doing it.”
She carried this sense throughout her life, even when she lost every little thing, including her house, cars, and money. She still found ways to serve and give back, which is the basis of her friendship with Shands.
They each love seeing people at the peak of their potential, and that is what “My First Million” is all about. There can be no higher birthday gift for them than helping others create generational wealth.
What to expect during the “My First Million” conference.
They each built successful seven-figure empires, then train others, write books about it, and launch an acclaimed podcast Social proof.
Now they’re imparting that knowledge through the My First Million conference, an event for aspiring and existing entrepreneurs. Shands and Wiggins need to prove that being profitable is feasible and encourage people to bet on themselves.
“David and I, on paper, are not two people who should have made millions of dollars. Number one, we want (people) to see it,” Wiggins says. “Then we want them to actually get out of that room with practical and actionable steps.”
Both are clear: this just isn’t a motivational conference. This is a conference where people, irrespective of where they’re of their journey, will come away with clarity about their business and what they must be doing as CEOs. Shands and Wiggins want individuals who do not have a transparent marketing strategy or are considering starting a business to also attend the meeting.
“A few areas we will cover are inspiration, information, plan and partnership,” adds Shands. “We will give you 1-2-3 steps because some people get depressed and uninspired. Even if they know what to do, they won’t leave, go home and do it. So we have to really put something into their heads and hearts that they come away with.”
Sign up and enroll for My First Million Here. The conference will happen on December 13 this 12 months. but Shands and Wiggins say it definitely won’t be the last for those who miss it.
Business and Finance
Operation HOPE on the occasion of the 10th annual world forum
Operation HOPE Inc. takes over Atlanta for the biggest game in the country dedicated to financial literacy and economic empowerment, Saporta reports.
The HOPE Global Forums (HGF) Annual Meeting 2024 strengthens the crucial link between financial education, innovation and community upliftment in hopes of finding solutions to the problems that stifle challenges around the world.
Organized by Operation HOPE founder John Hope Bryant, together with co-chairs Atlanta Mayor Andre Dickens and U.S. Ambassador Andrew Young, the forums, to be held December Sep 11 at the Signia Hotel, will have fun its 10th anniversary with three days of engagement discussions, observations and forward-looking presentations.
Under the theme “The Future,” Hope Bryant says attendees are looking forward to a “powerful moment in history.”
“Over the past decade, we’ve brought together great minds with daring ideas, servant leaders with voices for change, and other people committed to a brand new vision of the world as we realize it. “‘The Future’ is a clear call to action for leaders to help ensure prosperity in every corner of society,” he said.
The extensive program includes influential and well-known speakers who address business, philanthropy, government and civil society. Confirmed speakers include White House correspondent Francesca Chambers, media specialist Van Jones and BET Media Group president and CEO Scott M. Mills.
“John Hope Bryant and his team have been doing this for ten years, and every year HGF raises the bar,” Young said. “Discussions about the FUTURE are important not only for civil dialogue; they are also essential to bridging the economic divide and solving some of today’s most important problems.”
Atlanta is predicted to welcome greater than 5,200 delegates representing greater than 40 countries.
“I have long said that Atlanta is a group project, and through our partnership with HOPE Global Forums, we are inviting the world to join the conversation,” Dickens mentioned. “From home ownership and entrepreneurship to youth engagement and financial education, HGF will offer bold and innovative ideas to ensure a bright future for all.”
It coincided with the organization’s annual meeting launched one other path to enhance financial knowledge with HOPE scholarships. With three tiers of scholarships – HOPE Lite, HOPE Classic and HOPE Silver – clients could have access to free financial coaching and academic resources.
Business and Finance
New Orleans’ black business district is marked by history
New Orleans has given a historic monument to a Black business district closed for interstate construction.
The marker was a project fulfilled by in response to the initiative of Plessy and Ferguson. Founded by descendants of men involved within the Plessy v. Ferguson case that legalized segregation within the United States, the organization worked with other community groups to put a marker under the Claiborne Viaduct.
Before the upheaval, Black New Orleanians could find stores owned by other members of their community on Claiborne Avenue. Racial discrimination originally limited the power to buy on the famous Canal Street. Given this, blacks as an alternative flocked to the realm to purchase every little thing from groceries to funeral arrangements.
This mall was home to many Black-owned businesses, and emerging and established entrepreneurs had arrange shop for generations. Consisting of pharmacies, theaters, studios and more, it helped maintain a vibrant black culture in the realm. It reigned because the most important street of Black New Orleans from the 1830s to the Seventies.
The street once featured a picturesque cover of oak trees surrounding bustling businesses. However, its decline began with the expansion of roads within the southern state. The first casualty was the oak trees that were cut all the way down to make way for the development of Interstate 10, and shortly thereafter, the district’s thriving entrepreneurs suffered an identical fate.
Many residents do not forget that they didn’t know in regards to the upcoming investment until the trees began falling. Raynard Sanders, a historian and executive director of the Claiborne Avenue History Project, remembered the “devastation” felt by the community.
“It was devastation for those of us who were here,” Sanders told the news outlet. “I was walking to school and they were cutting down oak trees. We had no warning.”
Despite its eventual decline, the district stays an integral a part of Black New Orleans entrepreneurship. Now the town will physically resemble a historic center where Black business owners could thrive. They celebrated the revealing of the statue in true New Orleans style with a second line that danced down Claiborne Avenue.
“The significance of this sign is to commemorate the businesses, beautiful trees and beautiful people that thrived in this area before the bridge was built, and to save the people who still stand proud and gather under the bridge,” also said Keith Plessy, a descendant of Homer Plessy’ ego.
The growth of local black businesses continues. Patrons and owners alike hope to evoke the spirit of Claiborne’s original entrepreneurs, empowering the community.
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