Podcast appearances and mentions of urban entrepreneurship

Last week, Republican Rep. Garrett Graves of Baton Rouge announced his decision to not run for reelection this fall. Stephanie Grace, editorial director and columnist for The Advocate, joins us to discuss the implications of that decision for Louisiana and the nation.Road rage is a problem in every state, but Louisiana drivers tend to express their frustrations with guns more often than the national average, according to fresh statistics from the Gun Violence Archive. Carlie Kollath Wells, reporter for Axios New Orleans, joins us to break down the data.Last summer, we heard about a pilot program spearheaded by the University of New Orleans to make high school financial literacy classes more relevant to students. Now, the Dollars to Dreams program has completed its first school year.Jedidiah Collins, founder of Money Vehicle, and Chris Surprenant, professor of Ethics, Strategy and Public Policy and director of UNO's Urban Entrepreneurship & Policy Institute, tell us what the Dollars to Dreams team has accomplished in its first year.Today's episode of Louisiana Considered was hosted by Bob Pavlovich. Our managing producer is Alana Schreiber; our contributing producers are Matt Bloom and Adam Vos; we receive production and technical support from Garrett Pittman and our assistant producer, Aubry Procell.You can listen to Louisiana Considered Monday through Friday at 12:00 and 7:00 pm. It's available on Spotify, Google Play, and wherever you get your podcasts. Louisiana Considered wants to hear from you! Please fill out our pitch line to let us know what kinds of story ideas you have for our show. And while you're at it, fill out our listener survey! We want to keep bringing you the kinds of conversations you'd like to listen to.Louisiana Considered is made possible with support from our listeners. Thank you!

Devin: What do you see as your superpower?Lyneir: Three things: recognizing what it means to fail and understanding all of the, you know, got battle scars and war wounds to show that. The absolute abhorrence of arrogance combined with the patience to see value in people and places. That's some combination if you want to call that a superpower. That's what gets me up and gives me energy every day.I've never met a more altruistic real estate developer than Lyneir Richardson. I'm confident he'd be a billionaire if he were only out for himself. His focus is on building communities—Black communities.Working with philanthropic support from the MacArthur Foundation, the Chicago Community Trust, the Rockefeller Foundation, Surdna Foundation and JP Morgan Chase—among others—Lyneir has built the Chicago TREND Corporation, a for-profit social enterprise.He focuses on reshaping the commercial real estate in communities, noting that, “Even if the housing is strong, if you see boarded up liquor stores, [vacant] storefronts, multiple dollar stores, check cashing, you have an impression of the neighborhood.”His effort is to bring community members into the circle of ownership so the full benefits of commercial success accrue to the neighborhood.In addition to his work at Chicago TREND, he is a professor at Rutgers, where he leads the Center for Urban Entrepreneurship and Economic Development. “We now work with over 800 entrepreneurs who are 70 percent people of color. Over 60 percent are women,” he says. “Our goal is to get them above $1 million of annual recurring revenue.”“I'm having a lot of fun,” he adds.“Over the last two years, we've bought four shopping centers in partnership with over 130 black, local and small-impact investors,” Lyneir says.He's been working on this for three decades, so what some see as a quick success has been a long time coming. “There's nothing as powerful as an idea whose time has come,” he says.“Look, even ten years ago, people didn't talk as intentionally about inclusive economic growth and inclusive economic development,” he says.The tipping point was a tragedy.“It took George Floyd to be murdered—in addition to a long list of other people of color—for folks to intentionally, without apology, be able to say, we've got to come up with racial wealth gap closing strategies and strategies specifically focused on majority black neighborhoods or creating opportunities for black investors and black entrepreneurs,” Lyneir says.He calls 2020 “pandemic, protest and political pandemonium.” He says he reached new clarity in that pandemic year:One morning there was all this discussion about closing the racial wealth gap, and there was discussion about white guilt. “We see the challenges of systemic inequality and racism in America.”What hit me like a ton of bricks was wealth is created by owning assets, assets that generate revenue and assets that have the potential to appreciate over time. Maybe those assets have some tax advantages as well. So, if we're going to close the racial wealth gap, we have to create strategies that help more people of color own assets, whether that's businesses or some type of intellectual property or—I spend a lot of my time around commercial real estate—so owning your home, owning a business, owning commercial property, owning other assets that generate revenue and hopefully appreciate over time.Investing in strategies that help more people of color own assets and doing that in an investment in a way that says, “Hey, I'm not asking for a grant. I'm not asking to be paying full market rate, but make the neighborhood stronger, come up with a strategy that makes more people owners. If you give me my money back, and there are five less people murdered, and ten more people go to college and life expectancy increases by ten years, boy, I've got a quadruple bottom line. I got my investment, I got an investment return, and I have all these other social impacts.” That's the person that I have been working to connect with individually and institutionally.As Lyneir works to make this happen, he leverages three different aspects of himself that gel into a single superpower: he understands failure and overcoming it, has the patience to see potential others overlook, and doesn't tolerate arrogance. Forgive me for assigning this the shorthand “triple combination.”How to Develop Your Triple Combination As a SuperpowerEarly in his career, Lyneir learned failure and how to bounce back from it.I was a young entrepreneur of the year when I was in my 20s, recognized by the SBA, and then miraculously failed. In a fire sale, had to sell my first company. I had to figure out in a year-18 months how I would both keep my reputation and be able to rebuild my career. That wiping out and experiencing both the agony of people's disrespect but also the subtle grit and confidence that, “Hey I wiped out. But I can come back.”Over the years, he has also developed patience with people, property and processes others overlook.Someone will say it's too hard to do a deal over there, or those people would take too long to educate or they're too hard to deal with, or it's going to take forever to get their approval. That's the patience of connecting, of informing, of educating, of negotiating right in the boardroom, in the back room, in the whatever it takes—right on the parking lot. That's work that I enjoy doing.His aversion to arrogance is something he learned from his mother. “I hate arrogance. My mother used to say, ‘There's no better or worse. It's different.' So anything that feels like arrogance bothers me.”Bringing these aspects together allows Lyneir to do work others shy away from. He often works with entrepreneurs struggling with businesses trapped in outdated thinking. He doesn't see his role as being judgmental or critical; he has the patience to be helpful—even when it isn't fun.“Economic development is evolutionary, not revolutionary,” he says. “If you stay for the evolution, hopefully, we'll get to celebrate the revolution at some point.”He offers advice to entrepreneurs and business leaders:The optimal innovation has a social impact element and a narrative around solving a problem, making people and places better. But it also has to be profitable, or it has to have a hope of making a profit. It doesn't have to be profitable on day one, but it has to have a hope of making a profit and generating a return on investment over time—at some point to be self-sustaining.By following Lyneir's example, you can develop your triple combination into a superpower that enables you to do more good in the world.Lyneir will be speaking at SuperCrowd23, May 10-11, 2023. Don't miss it! Superpowers for Good readers can register at half price! Register now! Get full access to Superpowers for Good at devinthorpe.substack.com/subscribe

How does creativity work? In Creativities: The What, How, Where, Who and Why of the Creative Process (Edward Elgar, 2022), Chris Bilton, a Reader at University of Warwick's Centre for Cultural and Media Policy Studies, Stephen Cummings, Professor of Strategy and Innovation at Victoria University Wellington, and dt ogilvie, Professor of Urban Entrepreneurship at the Rochester Institute of Technology, use a combination of theoretical analysis and detailed case studies to explain creativity. Using global examples from a diverse range of business, individual, and organisational settings, the book ranges from to critical analysis of creative business scandals such as Weinstein and #MeToo. It will be essential reading across creative industries and management studies, with valuable insights for social science and humanities scholars too. Dave O'Brien is Professor of Cultural and Creative Industries, at the University of Sheffield. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

How does creativity work? In Creativities: The What, How, Where, Who and Why of the Creative Process (Edward Elgar, 2022), Chris Bilton, a Reader at University of Warwick's Centre for Cultural and Media Policy Studies, Stephen Cummings, Professor of Strategy and Innovation at Victoria University Wellington, and dt ogilvie, Professor of Urban Entrepreneurship at the Rochester Institute of Technology, use a combination of theoretical analysis and detailed case studies to explain creativity. Using global examples from a diverse range of business, individual, and organisational settings, the book ranges from to critical analysis of creative business scandals such as Weinstein and #MeToo. It will be essential reading across creative industries and management studies, with valuable insights for social science and humanities scholars too. Dave O'Brien is Professor of Cultural and Creative Industries, at the University of Sheffield. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/critical-theory

How does creativity work? In Creativities: The What, How, Where, Who and Why of the Creative Process (Edward Elgar, 2022), Chris Bilton, a Reader at University of Warwick's Centre for Cultural and Media Policy Studies, Stephen Cummings, Professor of Strategy and Innovation at Victoria University Wellington, and dt ogilvie, Professor of Urban Entrepreneurship at the Rochester Institute of Technology, use a combination of theoretical analysis and detailed case studies to explain creativity. Using global examples from a diverse range of business, individual, and organisational settings, the book ranges from to critical analysis of creative business scandals such as Weinstein and #MeToo. It will be essential reading across creative industries and management studies, with valuable insights for social science and humanities scholars too. Dave O'Brien is Professor of Cultural and Creative Industries, at the University of Sheffield. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/anthropology

How does creativity work? In Creativities: The What, How, Where, Who and Why of the Creative Process (Edward Elgar, 2022), Chris Bilton, a Reader at University of Warwick's Centre for Cultural and Media Policy Studies, Stephen Cummings, Professor of Strategy and Innovation at Victoria University Wellington, and dt ogilvie, Professor of Urban Entrepreneurship at the Rochester Institute of Technology, use a combination of theoretical analysis and detailed case studies to explain creativity. Using global examples from a diverse range of business, individual, and organisational settings, the book ranges from to critical analysis of creative business scandals such as Weinstein and #MeToo. It will be essential reading across creative industries and management studies, with valuable insights for social science and humanities scholars too. Dave O'Brien is Professor of Cultural and Creative Industries, at the University of Sheffield. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/sociology

How does creativity work? In Creativities: The What, How, Where, Who and Why of the Creative Process (Edward Elgar, 2022), Chris Bilton, a Reader at University of Warwick's Centre for Cultural and Media Policy Studies, Stephen Cummings, Professor of Strategy and Innovation at Victoria University Wellington, and dt ogilvie, Professor of Urban Entrepreneurship at the Rochester Institute of Technology, use a combination of theoretical analysis and detailed case studies to explain creativity. Using global examples from a diverse range of business, individual, and organisational settings, the book ranges from to critical analysis of creative business scandals such as Weinstein and #MeToo. It will be essential reading across creative industries and management studies, with valuable insights for social science and humanities scholars too. Dave O'Brien is Professor of Cultural and Creative Industries, at the University of Sheffield. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/psychology

How does creativity work? In Creativities: The What, How, Where, Who and Why of the Creative Process (Edward Elgar, 2022), Chris Bilton, a Reader at University of Warwick's Centre for Cultural and Media Policy Studies, Stephen Cummings, Professor of Strategy and Innovation at Victoria University Wellington, and dt ogilvie, Professor of Urban Entrepreneurship at the Rochester Institute of Technology, use a combination of theoretical analysis and detailed case studies to explain creativity. Using global examples from a diverse range of business, individual, and organisational settings, the book ranges from to critical analysis of creative business scandals such as Weinstein and #MeToo. It will be essential reading across creative industries and management studies, with valuable insights for social science and humanities scholars too. Dave O'Brien is Professor of Cultural and Creative Industries, at the University of Sheffield. Learn more about your ad choices. Visit megaphone.fm/adchoices

Joe started FlenTek Solutions 16 years ago after making the decision to become a full-time entrepreneur. During his corporate career of over 30 years, he has successfully turned around several Profit and Loss business units to operate in the black from regional, national, and global levels at several Fortune 500 companies. He has experience in all major aspects of American business from Product Marketing Management, Sales Management, Sales Operations Management, and Service Support Management. FlenTek Solutions has grown from $5,000 in annual sales to roughly $2-3M in sales annually with a staff of six people and growing. Joe has a bachelor's degree in Business Administration (Cum Laude) from National University, an MBA from John F. Kennedy University, Certificate of Excellence from Rutgers Business School (Center for Urban Entrepreneurship and Economic Development), and three years of formal Electronic Theory and Education from the US Navy and Tektronix. He has been a professional in the High Technology Industry since 1981 from when he took over a $3M service operation with 40 (engineers, technician, and operations) employees and transformed from the worst in the country to the most profitable and responsive business unit for Tektronix for the next 9 years. Joe has been married to his wife Odessa for over 30 years and has two adult children (Qiley Lewis and Joseph Lewis III) who have both graduated from college with bachelor's degree. Qiley has assumed the position of Digital Marketing System Manager for FlenTek Solutions and Joseph (JC) is a Project Manager for Oracle. Odessa has a BS in management from Golden Gate University and assumes the position of Chief Financial Officer for the company. She maintains the company's financials and continues to have only written off $50 in bad debt for the company while making sure capital was available to fund our growth. This is an amazing accomplishment.

Recent reporting from the American Association of University Professors has traced an uptick in the targeted harassment of faculty members, most often those accused of having a liberal bias and of teaching “controversial” topics.  The Takeaway spoke with Eric Ruiz Bybee, associate professor in the department of teacher education at Brigham Young University, about his recent experience of being harassed by conservative groups after standing up for a colleague who assigned students coursework on whiteness. Plus, Chris Surprenant, Professor of Ethics, Strategy, and Public Policy Director of the University Honors Program and Director of the Urban Entrepreneurship and Policy Institute at the University of New Orleans, shares how he has been targeted for receiving scholarly funding from a conservative philanthropy organization called the Charles Koch Foundation.

Recent reporting from the American Association of University Professors has traced an uptick in the targeted harassment of faculty members, most often those accused of having a liberal bias and of teaching “controversial” topics.  The Takeaway spoke with Eric Ruiz Bybee, associate professor in the department of teacher education at Brigham Young University, about his recent experience of being harassed by conservative groups after standing up for a colleague who assigned students coursework on whiteness. Plus, Chris Surprenant, Professor of Ethics, Strategy, and Public Policy Director of the University Honors Program and Director of the Urban Entrepreneurship and Policy Institute at the University of New Orleans, shares how he has been targeted for receiving scholarly funding from a conservative philanthropy organization called the Charles Koch Foundation.

Introducing The BEST (Black Entrepreneurs Survive and Thrive) Podcast, a show dedicated to highlighting the resilience of black entrepreneurs and the impact of patient capital. This series is brought to you by the Center for Urban Entrepreneurship and Economic Development at Rutgers Business School, where we integrate scholarly works with private capital, government, and non-profit sectors to develop citywide resources and bring renewed economic growth and vitality through urban entrepreneurship. We promote and foster a new generation of urban entrepreneurs who are actively seeking a socially conscious urban renaissance. To learn more about how you can support our efforts, visit www.business.rutgers.edu/cueed Subscribe to our newsletter here: https://thebestpodcast.substack.com/welcome

On this inaugural episode of the BEST Podcast, I'm joined by Lyneir Richardson to discuss Patient Capital and the NJ BEST Patient Capital Fund. With financial support secured from M&T Bank and the Surdna Foundation, The NJ BEST Patient Capital Fund will deploy $250,000 - $500,000 of non-dilutive capital – specifically, recoverable grants $25,000 to $50,000 – to provide patient capital to black entrepreneurs. Subscribe to our newsletter here: https://thebestpodcast.substack.com/welcome

Leadership LIVE @ 8:05! - Talking Small Business with Lyneir Richardson about Empowering Urban Entrepreneurs. Lyneir is an urban entrepreneur working to empower entrepreneurs to strengthen economic conditions in ethnic and underserved areas across the United States. His work includes developing commercial real estate, largely in African American communities. He has completed $800M+ in urban real estate transactions. Through his current efforts at the Center for Urban Entrepreneurship and Economic Development, Chicago TREND Corporation, Lyneir advises and educates urban entrepreneurs, helping them start and grow businesses and invest capital in underserved areas. He works to see value in people and places that others overlook or undervalue. Every Tuesday evening on Leadership LIVE @ 8:05! - Talking Small Business, we are joined by experienced entrepreneurs and business owners who share their secrets to success via Livestream. You will learn about developing your business leadership skills from our roster of high-performing guest experts. Leadership LIVE is one of the many valuable resources provided through the Small Business Pro University empowering business owners to learn, profit, and grow. www.SBProU.com

1 in 5 credit union members report that they would be willing to leave their credit union for a bank if innovation was not a priority. If you’re a regular listener of this podcast, you know that we often bring our research fellows on so that you have a chance to hear directly from them, get to know a little more about the work they are doing and learn about the focus of the research centers they lead. In March, we officially launched our 6th and final research center of excellence on credit union innovation and incubation. This center studies current trends for how credit unions can respond to members’ desire for greater financial service innovations that meet their evolving needs and preferences. It also explores the general state of innovation across the credit union system. To help credit unions succeed in building cultures, processes and systems for innovation, Filene has enlisted Dr. Jeffrey Robinson, Associate Professor of Management and Entrepreneurship and Academic Director of the Center for Urban Entrepreneurship & Economic Development at Rutgers Business School to lead this Center. We're excited to welcome Dr. Robinson on the show today. Also joining in our discussion and making his first appearing on the podcast is Filene’s Senior director of Incubation, Joshua Sledge. Together, Josh and Jeffrey are a tremendous resource for credit unions seeking ways to build their innovation muscles as well as give guidance to leading innovative credit unions on what’s on the horizon from their perspective. Register for our upcoming Innovation research event at filene.org/events

Chris Wheat is the Co-President for the JPMorgan Chase Institute. Prior to joining JPMCI, he served as the Director of Analytics at a financial technology startup, where he led the development of advanced analytics algorithms. He previously was an Assistant Professor at the MIT Sloan School of Management and at the Center for Urban Entrepreneurship and Economic Development at Rutgers Business School. As a faculty member, he taught and researched topics in strategy, entrepreneurship, global microfinance, economic sociology, and social network analysis. At JPMCI, he leads research on small businesses and local economic development. The COVID crisis clearly slowed the growth of the small businesses in all contexts, particularly those owned by racial minority groups. Mr. Wheat’s research during the COVID crisis quantifies the harm done to small businesses early in the pandemic and later on towards the end of 2020, via three business research reports that we engage in discussion with. His report titled “Small Business Financial Outcomes during the Onset of COVID-19” shows that cities such as Atlanta, Las Vegas, Orlando seem to report slower economic recovery than cities such as Chicago, Seattle. Cash balances are an important metric of financial health, but the unemployment rate in Chicago is much higher compared to Atlanta. How should we reconcile the differences between these financial metrics in the context of economic recovery? JPMCI’s report “Small Business Owner Race, Liquidity, and Survival” discusses the importance of developing a holistic understanding of financial health: including cash liquidity, revenues, and expenses. However, we usually hear about unemployment in the economy as the main metric, because that information is more readily available to policymakers and the public. How should we think the availability bias of information regarding small businesses affects government policy? How can we combat the asymmetry of information between policymakers and their constituents? What metric should policymakers look at when deciding how to implement financial stimulus? What is the most efficient way to supply businesses with exactly what they need? JPMCI also found that the industry downturns during the beginning of COVID were felt equally across different owner races. As business started to pick up, cash balances of White-owned restaurants doubled while those of Black-owned restaurants increased by 38%. However, cash balances of Black-owned personal service firms increased by over 60% compared to those of White- and Hispanic-owned firms, which increased by less than 25%. How can we explain these different recovery rates? What do they tell us about the relationship between race and financial stability in different industries? More broadly, we discuss the relationship between research and business, expanding into academia and industry. JPMCI holds a unique position that allows Mr. Wheat to conduct research that fits the description of neither scholarly academic nor finance professional. The question of data sourcing comes into play, along with a weighing of interests between private sector firms and public research groups. Furthermore, we explore the impact of business research in public policy. How is business research utilized in the public sphere, and what shape does that take? For students navigating career paths in finance, tech or entrepreneurship and choosing between academia and business, Mr. Wheat offers insight into how to think about these different sectors from the perspective of an individual who has navigated all of them. His work into the COVID pandemic utilizes methodologies from every sector combined, and our conversation with him tackles the intricacies of COVID impacts on small businesses and the nature of business research in the big picture.

On This Week’s Podcast: Carla Sones has a fascinating conversation with Lyneir Richardson, uncovering how Lyneir went from being a bank lawyer to being a huge driving force behind encouraging entrepreneurship and small business ownership in minority and under-served communities. He shares the ways that small businesses, minority-owned in particular, have been disproportionately affected by […]

We're going from learning about what an entrepreneur is to how to become one! Join us as Ebony Miller-Wesley, director of Rochester Institute of Technology's Center for Urban Entrepreneurship, leads us through what it takes to get a business off the ground and, more importantly, to keep it going, especially in Rochester. Oftentimes the backbone of a community, these small businesses are driving the economy and are so important, maybe more now than ever. Key Takeaways: This Rochester gem is a model across the country. Serving the underserved entrepreneur. Small businesses are at the heart of community and the economy. Nexus i90 - it's a game changer!

​Fallon Samuels Aidoo is the Jean Brainard Boebel Professor of Historic Preservation, and is affiliated with the University of New Orleans’s (UNO) Department of Planning and Urban Studies as well as its Urban Entrepreneurship and Policy Institute. ​

MWC Chingona co-host: Lori Peters, Educator. Dan Smith & Charon Thompson highlight their Entrepreneurial program "Small Business Development Program". "After two years of surveying our client base, we found we can not only provide educational supports, mentorship, and other “standard” resources, but we can provide much more. We understand our target demographic of entrepreneurs and dreamers are very non-traditional when determining the type of entrepreneur they are. With a non-traditional entrepreneur, we knew we needed to find a non-traditional way to make a difference in their lives and businesses. With the information we collected, and tons of meetings with our partner (CHES Inc.) we created this idea of a “pop-up” retail space in the urban core, which provides incubator style programming with low lease rates, short-term lease periods, and an educational component teaching undeserved entrepreneurs while allowing the opportunity to show practical application in running their businesses. From there, we created Generating Legacy through Urban Entrepreneurship or G.L.U.E. for short. Our project provides entrepreneurs a “lab” environment to put the weekly lessons learned; to work. By closing the gap and providing an affordable brick and mortar, our clients will learn how to run a brick and mortar store, receive soft skill training to help navigate traditional business road maps, and get resources that support medium to long term growth." --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

Jill Johnson is the Co-founder/CEO of the Institute for Entrepreneurial Leadership (IFEL). Most recently, Jill conceived and launched the Women of Color Connecting initiative to change the way we think about building the capacity of Women of Color entrepreneurs for the grow-scale-exit trajectory. She is also spearheading The Making of Black Angels movement to drive diversity and inclusion within the angel investing sector. She has over 30 years of experience as a business strategist. She is a small business champion with extensive experience in program development, business plan writing, and pitch coaching. In her capacity as CEO of the Institute for Entrepreneurial Leadership, Ms. Johnson is responsible for the strategic direction of the organization and capacity building. She is especially focused on creating earned revenue opportunities and strategic partnerships. She has led the organization in successfully winning contracts with the New Jersey Department of Labor, the Newark Urban Enterprise Zone, Rutgers Center for Urban Entrepreneurship and Economic Development, and Greater Newark LISC to provide entrepreneurial training and support services.  Ms. Johnson is a member of the National Center for Entrepreneurship and Innovation (NCEI) Entrepreneurship Council and the Excelsior Growth Fund Advisory Board. In the past, she served on the Red Tape Commission created by New York City Comptroller Scott Stringer and was an appointee of Mayor Cory Booker to the Board of Trustees of the Newark Public Library. She was also a co-chair of the South Orange Main Street Economic Development Committee.  Ms. Johnson has a B.A. in economics from Harvard University and is married with four amazing sons. In this episode: Jill Johnson is the daughter of entrepreneurial parents who devoted their energy to running a successful small business, but, as people of color, lacked  access to the networks that lead to capital.  Jill’s perspectives changed when she went to Harvard and on to Goldman Sachs and began to see the networks in action. Skills alone were insufficient without the right contacts. As co-founder and CEO of the Institute for Entrepreneurial Leadership (IFEL), Jill fosters environments that connect minority and women small business owners with the investors and opportunities that were not previously accessible to them.  

BE SURE TO SEE THE SHOWNOTES AND LISTEN TO THIS EPISODE HERE. Eve Picker: [00:00:12] Hi there, thanks so much for joining me today for the latest episode of Impact Real Estate Investing. My guest today is the energetic Lyneir Richardson. In all that he does, Lyneir is razor-focused on helping urban entrepreneurs. He straddles two roles in two cities, Newark and Chicago.   Eve: [00:00:32] At Rutgers University in Newark, he is the executive director of the Center for Urban Entrepreneurship and Economic Development. There he is intent on helping 1000 diverse urban entrepreneurs grow their companies. And he's also an entrepreneur himself. He co-founded and is CEO of the Chicago Trend, a social enterprise providing resources to real estate developers and retailers to promote investment in Chicago neighborhoods.   Eve: [00:01:05] Be sure to go to evepicker.com to find out more about Lyneir on the show notes page for this episode. And be sure to sign up for my newsletter so you can access information about impact real estate investing and get the latest news about the exciting projects on my crowdfunding platform, Small change.   Eve: [00:01:38] Hello Lyneir, I'm really excited to have you here today.   Lyneir Richardson: [00:01:42] Thank you for inviting me. I'm looking forward to our conversation.   Eve: [00:01:45] Yeah. So, you're a man with a mission and I'd really love to talk about that today. And like, firstly, in your role as the director of the Center for Urban Entrepreneurship and Economic Development at Rutgers University, and that's quite a mouthful, you've set a goal there of helping 1000 urban entrepreneurs grow their businesses. And I'd really like to hear more about that.   Lyneir: [00:02:09] Great. Well, I have been at Rutgers Business School for six years. In October of 2019 we celebrated the 10th anniversary of the Rutgers Center for Urban Entrepreneurship and Economic Development. During that 10-year period, we really focused on helping a diverse set of entrepreneurs get to, quote unquote, the next level, and that's how we always talked about, and then made the connection between entrepreneurship and economic development. Let me tell you a little bit about what I mean. We can point to the fact that we directly assisted over 400, now probably almost 500 entrepreneurs, 70 percent are entrepreneurs of color, African American or Latino largely, over 62 percent are women. 40 percent are right in the city of Newark, New Jersey which is an urban city that's been really revitalizing through local municipal leadership and corporate support. And of those firms we've taken now a little over 160 above a million dollars a year in revenue. So we're really excited about.   Eve: [00:03:22] Fabulous, yeah.   Lyneir: [00:03:23] That was really my, you know, first 10 years of work. And so the next, as we thought about it, all right, we've completed our 10 years, what do you want to do next? We really focused on this initiative we're calling a thousand million. And as you mentioned, the focus is, can we help, you know, a thousand diverse entrepreneurs get to and exceed a million dollars a year of annual recurring revenue? The reason why that's important for us is, you know, the million-dollar revenue mark is not the end all be all, but it's an important threshold, it's when an entrepreneur typically can start to think about either borrowing money or taking on investors. It's at that point where they have some employees beyond themselves. It's at that point where they hopefully will start to be able to consistently have some owner's compensation or some profit to share. You know, they have customer validations and that type of stuff.   Eve: [00:04:21] They're at the beginning of growth mode, right?   Lyneir: [00:04:24] The beginning of growth mode. And so, while we work with, you know, micro-entrepreneurs, you know, initially doing a hundred or two hundred thousand dollars of revenue, as long as they were in business for two years and we won't, you know, discontinue working with them, we sort of turn to an intentional effort to take firms who are in the two to three, six hundred thousand dollar range and try to focus on getting them to the next level. That's been fun.   Lyneir: [00:04:49] That's our Rutgers Center for Urban…, and Rutgers has been a really supportive university environment because typically entrepreneurship centers at universities are, you know, internally focused. Helping students pursue entrepreneurial activity and helping alumni. Rutgers here, because we have this Chancellor, Nancy Cantor, who's really made publicly engaged scholarship a strategic priority and a mission, she's a national spokesperson for it, as well as the dean of our business school who made social impact, you know, one of her top initiatives and priorities we are able to open the doors of the business school to a community of entrepreneurs, many or most of which are not Rutgers students, and they're not Rutgers alumni, you know. It's just a community around us, the local coffee shop or the professional service provider in the area, in our state or region that we really are helping to accelerate and grow.   Eve: [00:05:53] Cool. How long is it going to get to a thousand of them?   Lyneir: [00:05:56] You know, it's interesting. So, if you think about it, it took us 10 years to get 400 entrepreneurs in our program 160, I think by, you know, intentionally focusing, we're hoping that over the next five years you will start to reach that goal. So we're talking to a number of corporate partners, we've talked to some of the big philanthropy about both making, you know, our in-person courses, expanding them out some, but obviously not just because of the pandemic, but even in advance of it, using online tools so that we can expand our reach. So, yeah, we're hoping that over the next five years, you know, we'll start to see more, you know, more entrepreneurs across the threshold. We're going to research it and track it and celebrate it as well.   Eve: [00:06:43] So what does an urban entrepreneur look like and where are they located? What sort of businesses are they?   Lyneir: [00:06:49] Yep. So it's interesting. So, you know, urban entrepreneur is, it's an interesting term. Urban is an interesting term, right? So, you know, what's urban? Is it, in most instances place? Is it about density of place? I've been most passionate about urban with a racial lens. Racially diverse, economically, you know, challenged ethnic and underserved areas. So, in a lot of respects, my urban is really focused on here in the US, who have not been able to realize the full promise of our American dream, right? They have been subjected by, you know, systemic racism and that kind of stuff. So the question is, can I help them get resources and opportunity, you know to folks who have been overlooked and undervalued, right? So that's really the focus of the urban we do. Distressed urban neighborhoods where we'll create jobs and create wealth in communities. And then the economic development impact's all-around quality of life, right? You know, will crime decrease? Will there be better educational outcomes, you know, more amenities and neighborhoods, you know, that type of work, right? And that's the things that we measure, right? And so, our view is these urban entrepreneurs, as they become more successful, will be community anchors. They support the Little League team, you know, and civically active and employ locally and, you know, that's the big dream and the vision for it all.   Eve: [00:08:20] Can you give us some examples of the sorts of businesses you've helped?   Lyneir: [00:08:24] So, a wide variety. I'll talk about a few that we're proud of.   Eve: [00:08:29] Surely, you're proud of them all, right?   Lyneir: [00:08:33] Right, we're proud of them all. I just did it off the top of my head, You're right about that.   Eve: [00:08:35] It's like your children.   Lyneir: [00:08:37] Well thank you for that, you're right.   Lyneir: [00:08:38] We have four categories or signature program, sort of, lanes. One we call, which is our bedrock program, the Entrepreneurs Pioneers Initiative. It's for first generation entrepreneurs. We have a program for media and art in entertainment industry entrepreneurs. We have a program that focuses on helping retail and restaurant entrepreneurs. And we have done a lot of work recently with people of color forming technology ventures and accelerating, you know, those ideas. And typically, after school and on the summer, we will do some youth entrepreneurship programs.   Lyneir: [00:09:17] You know, we have a really cool - I'll just go walk back up the ladder - so we have a really cool technology firm called WearWorks that have started to raise capital into a number of strategic partnerships. This product is a haptics, sort of a navigation device for people with visual disabilities. Their recent accomplishment is using their product - a blind individual ran the New York Marathon for the first time without any type of seeing eye dog or, you know, used that tool to do it. We hope that they're going to continue to grow and get resources and use their tools for training and for all types of health outcomes as well. We have put the local right down the street from our business school. We have a number of restaurants and coffee shops. Black Swan coffee, Green Chickpea is a restaurant. These are local businesses that we've either helped get contracts with the university, you know, one is soon to announce a second location. You know, the coffee shop I love because the donuts are so great, right? So, you know, I would I should be avoiding the donut shop, it's really cool right down the street. A lot of professional services firms, PR firms, accounting firms.   Eve: [00:10:33] That's a really wide variety.   Lyneir: [00:10:35] Yeah, very exciting.   Eve: [00:10:36] So, I wonder, how do you identify these entrepreneurs? What's the bar they have to reach to be able to get into a program?   Lyneir: [00:10:43] Our initial requirement was in business at least two years, and one hundred thousand dollars of revenue is the threshold for most of our programs. The technology ventures, you know, we knew they were start-ups and, you know, it was, do we believe they could have some type of traction? Either they've gotten some other investment or been admitted into some other accelerator programs or, you know, have some indication of probability of success. But the goal really is, is to take people on, you know, a rung of the ladder and help them get to the next rung of the ladder. You know, at the state university where we view ourselves as an anchor, that's going to be here. And so, we provide resources over many years. The entrepreneurs is not just in a program. You know, we give people student consulting teams over multiple years. We invite them back to universities over multiple years. So, you know, we're in it for the long haul with the entrepreneurs in our funds.   Eve: [00:11:40] That sounds fabulous. What's your background and how did you get here?   Lyneir: [00:11:45] Well, I started as a lawyer. I grew up in a family of entrepreneurs. My dad owned a restaurant and bar. We owned popcorn stores., we owned five popcorn stores. So, you know, like, our dinnertime conversations were around, you know, we got a new location or lease, or a truck broke down, or someone didn't show up. You know, what are you going to do? And I, growing up as a teen, I was a D.J., a clean-up person, a delivery person, so I had all of those roles and saw business firsthand. I went to law school and practiced law initially as a bank lawyer.   Eve: [00:12:19] I have to ask, a family that owns popcorn stores begets a lawyer? How did that happen?   Lyneir: [00:12:25] Well, you know what? Yeah, our parents believed in education, right? And they believed, you know, in the value of education to continue to advance the family. What was interesting in being a bank lawyer was to de-mystify banking. I remember as a child, we'd always talk about how difficult it was to get a bank loan or, you know, and the narrative is, I was probably drawn to be a bank lawyer, and 90 lawyers in the law department there. But I remember every afternoon around 2:00 p.m., I'd start to fall asleep on the bank loan documents. It wasn't until I got an opportunity to do a community pro bono project of loaning, instead of loaning one hundred million dollars to an airlines or a public utility, I got a project to loan one hundred thousand dollars to a little entrepreneur, a local entrepreneur who was buying the building that I think he was operating his barbershop from. And it was the same documents, promissory note, loan agreement, guarantee, minus three zeros. Instead of one hundred million it was one hundred thousand.   Eve: [00:13:27] Right, I'm very familiar.   Lyneir: [00:13:29] But I loved it, right? It was, all of a sudden, I could see the connection to the work. And, you know, being on that court or in a struggling neighborhood not far from where we initially grew up. Then that community development work became my passion, right. Getting resources to those type of entrepreneurs into the communities, that became my passion.   [00:13:50] I worked as a bank lawyer. I became an entrepreneur myself in Chicago. I developed, built and sold well over 300 single family homes and town homes, mostly in underserved areas, was Young Entrepreneur of the Year in SBA many years ago, right 25, almost 30 years ago. But then I had all the highs and all the lows of entrepreneurship from, you know, the cover of the Crain’s Magazine and the awards to the doors of bankruptcy court. I ended up selling my company in a fire sale after a tough period. I lost, got fired on the job, we over-extended ourself on a contract, you know, I had, you know personal, you know, the mother died, you know, I had this period of just needing to restructure. But I was able to get a job doing the same work, heading a national initiative with a publicly traded company that was focused on doing retail development in urban neighborhoods.   Lyneir: [00:14:45] And so by now, I start to see this pattern. I was a bank lawyer and found passion and lending in urban neighborhoods. I then started as an entrepreneur building homes in urban neighborhoods. Then I found this big corporate position that had a national focus on getting retail to urban neighborhoods. And then, when the recession hit in 2007, I got this opportunity to work with Cory Booker and head the Economic Development Organization in Newark, New Jersey. Cory Booker, as you may know, very charismatic mayor of Newark, New Jersey, ultimately became Senator Booker. And because of his charisma, we had this opportunity to position Newark as a city that would be a national model of urban transformation and started to do projects. So, we did grocery stores and office buildings and new restaurants in the city – it became a lot of fun. And when he became Senator Booker is when I moved to Rutgers. So that's the long sort of career journey.   Eve: [00:15:45] I mean, there seems to be a lot happening in Newark. I keep running into people doing...   Lyneir: [00:15:49] Very good. I mean, even now, phenomenal current leadership. Senator Booker is working more at the national level, but we have a phenomenal local mayor who's galvanized both the business community, the residential community, and really done phenomenal work here. So, a lot's going on. The last thing I just want to mention is, what initially started out as a research project in my first year at Rutgers has now morphed into a social enterprise that we're. you know, really excited about. I'm also CEO of a social enterprise called Chicago Trend. It's a real estate focused social enterprise that now has about 15 million dollars of capital investing in the same neighborhoods, trying to determine when commercial real estate development and retail amenities and services and performing arts, and we've been investing two hundred thousand, two million dollars into various projects with the mission of strengthening the commercial corridors that will ultimately strengthen the neighborhoods. And again, Rutgers has been very good in allowing this research work to be in synergy with the entrepreneurial activity in Chicago. So, for me, I am at a high point in my career, both sides of the brain. One side is teaching entrepreneurs and being a champion and cheerleader of entrepreneurs in Rutgers. The other side is, I actually get to put money into ventures and, and trying to make an investment return. So, it really is a fun time. A fun career.   Eve: [00:17:24] Exciting. It sounds like you’re very busy.   Lyneir: [00:17:27] Absolutely. But, when it's passion work, even though it's busy, you know, it doesn't hurt.   Eve: [00:17:32] No, I totally agree with you. So then, what, you know, what does socially responsible real estate look like to you?   Lyneir: [00:17:39] So, again, my focus has been getting resources to people in places that other people overlook and undervalue. And for me, that is, every city has a part of town, again I headed economic development in Newark, so there was a part of town where crime is higher, where there's more blight, where, you know, educational achievement is not as great, where there's adverse health indicators. That's the part of town that I believe, a focus on real estate development and a focus on commercial corridor, inclusive ownership of property, getting amenities, day-care, dry cleaner, urgent care center, grocery store is what people often talk about, sit down restaurant. Those type of investments can change and strengthen a neighborhood. And people also will change, I'm concerned about gentrification. It's always not bringing Neiman Marcus in, it's bringing the amenities and services that improve the quality of life for the residents who have decided this is where I want to live, but to also continue to add economic diversity to a neighborhood as well. Additional income so that middle income families and, you know, people with additional educational achievements can say: I grew up here, I have some connection to this neighborhood and I can make this a place where I choose to live because of its conveniences and its history  and, you know, be a part of its continued progression.   Eve: [00:19:22] Yeah, I mean, I think the gentrification line is very difficult because we can't leave places like that without investment. So, you have to find a way to invest respectfully, I suppose it's the way.   Lyneir: [00:19:35] Exactly right. And doing it inclusively. So this is, you know, the capital we've invested. It's with people of color who have some connection to that neighborhood. It's helping residents open a national franchise in a neighborhood. Again, it's getting capital to help residents and local entrepreneurs own and drive the revitalization, own and drive the economic growth. That's what's fun for me.   Eve: [00:20:05] So the fund, the fifteen-million-dollar fund that you're using, how did you raise that?   Lyneir: [00:20:11] It initially philanthropically motivated impact investors. It is, the MacArthur Foundation in Chicago provided the initial five million dollars of what they call the program related investment, a very flexible, patient capital which allows us to invest it into projects in a patient and flexible way as well. We've had a second investor, five million dollars of venture called Benefit Chicago, which was, includes the Coward Foundation. And then most recently we announced a five-million-dollar investment from Fifth Third Bank, you know, again a flexible capital. And we have, some of the religious organizations have also made some. The American Baptist Home Mission Society has provided some equity capital that we're using also, so really excited about it.   Eve: [00:21:04] So, you know, my next comment is going to be, you know, what about crowdfunding? Letting everyday people invest?   Lyneir: [00:21:11] Again, when I read about your work, it's something that I would love to figure out how to do. We haven't and it's certainly, we want crowdfunding to be a part of our menu. And again, now that we have made investments, have a track record, you know, this thought of can I create vehicles that will allow more local ownership alongside of our investment would be phenomenal. So,   Eve: [00:21:37] Well, we should talk 'cause you don't need to figure it out 'cause I have.   Lyneir: [00:21:40] Great. We should do something together. I love it.   Eve: [00:21:43] Yeah, it really is an impact fund with impact investors who care about what you're doing. It's pretty great stuff. Yeah. So, I have to ask, we're in the middle of a pandemic and we're both at home doing this interview, how are you supporting your entrepreneurs through this pandemic?   Lyneir: [00:22:05] Phenomenal question. You know, we have done a few webinars initially asking people, how is the pandemic affecting you? How are you thinking about your business model? How can we be supportive? So, you know, first thing was, instead of just responding, we started to talk to the entrepreneurs and try to understand from our customers how we could best support them. We've done a number of webinars and servers around applying for the available resources, as well as thinking about how to innovate business model to a more aligned and my favorite was, one of the entrepreneurs in our program operates a dance studio. But, you know, they're doing their jazz dance programs via Zoom now. And the one question she wanted us to help her figure out was, you know, do I have legal liability? And, you know, how do I, you know, either get some consents because they're not in my spaces, if someone gets hurt? So, you know, that those type of strategic questions, right?   Eve: [00:23:05] That's interesting, yeah.   Lyneir: [00:23:06] That's really been the nature of the work. Where I am spending a lot of time is on a program that goes deep, right? So, I think right now, everybody is having, rightfully so and thankfully so, there's a lot of announcements about new programs and small grants, local, municipal, federal, corporate, even philanthropic, to help entrepreneurs sort of survive. I really am spending a lot of time thinking about, and we've designed a sort of, I call it entrepreneurial management consulting to help entrepreneurs really think beyond the first three months of opening. But to think about, you know, the economic reality over the next year and two, you know. How do you change your model? How do you create new revenue streams? Is this the time to reposition? Can you raise new capital in addition to, you know, accessing all of the survival and recovery capital and strategies that are out there? How do you really think about this as a moment to become stronger?   Eve: [00:24:16] Yes. The interesting thing is, like, entrepreneurs are wired that way, right? They're people who think things up and work through challenges and are flexible and figure out how to get through unexpected challenges and it could be a really good opportunity to make a business stronger or different or add some programming to it or whatever. And I have noticed amongst people in general, there seems to be a clear divide between people who say, well, we're just gonna get back to normal and others who say, well, what's normal going to be? It's going to be different. It's very interesting to me. And you're clearly one of the people thinking about a different normal, right?   Lyneir: [00:24:58] Absolutely. And again, I think entrepreneurs are thinking about that as well. I guess there's two categories. There are some folks who say this is the time for me to reposition or to do entrepreneurship, either in a different way or to think about that this is not fun, right. And then again, there's a lot of parts of entrepreneurship that are not fun. And, you know there's late nights and there's accounts payable and, you know, and chasing, you know, opportunity. And so, I think there'll be some folks who will say, this may be my time to exit or to leave, right? But there's another subset of entrepreneurs that I believe are, even right now, thinking where's the new opportunity? How do I get new capital to pursue that opportunity? They're sitting back at home and thinking about what do I need to do to create a stronger business, additional wealth, you know, when we all are back outside again in the new norm?   Eve: [00:26:03] Yeah, interesting. So, a final question is, what do you think that the Center will look like in a year? Have you thought about that?   Lyneir: [00:26:14] Yeah, so I mean, again, we have already pivoted to all of our capacity building programs now are virtual. And the thought of being able to have a broader reach. You know, we won three of four awards for the effectiveness of our programs. And to be able to have a broader reach because of technology, and it being accepted, that's the cool thing about using all of the Zoom and WebEx and other tools is before, it always was sort of, well it was a second option, the technology was always sort of clunky. You would never make that even part of the first consideration. I think now our Center's going to have a whole lot more reach and impact by using, and leaning into, and the acceptance of the virtual tools. And we're also, you know, embarking on a campaign to endow our Center which will allow us to be, you know, not raising money program by program, to name the Center and to be able to continue to impact entrepreneurs along the scale. From youth to technology to the coffee shop down the street.   Eve: [00:27:30] Well, I really can't wait to hear, see what happens next and you and I are going to have some coffee on Zoom sometime very soon. Thank you very much.   Lyneir: [00:27:42] What a phenomenal opportunity and thank you.   Eve: [00:27:46] OK, bye.   Eve: [00:28:02] That was Lyneir Richardson, while Lyneir's work straddles two cities the goal is the same in both places. He's searching for ways to level the playing field for entrepreneurs and real estate developers in economically disadvantaged neighborhoods. In Newark he's helped 400 diverse entrepreneurs, growing to a thousand, grow their businesses. And in Chicago he provides resources to real estate developers and retailers to promote investment in disadvantaged Chicago neighborhoods.   Eve: [00:28:35] You can find out more about impact real estate investing and access the show notes for today's episode at my web site, evepicker.com. While you're there, sign up for my newsletter to find out more about how to make money in real estate while building better cities.   [00:28:52] Thank you so much for spending your time with me today and thank you Lyneir for sharing your thoughts with me. We'll talk again soon but for now, this is Eve Picker signing off to go make some change.

In addition to the serious implications for people's health and the healthcare services, coronavirus (COVID-19) is having a significant impact on businesses and the economy. Dr. Jeffrey A. Robinson shares strategies to help small business prepare and respond to the crisis. Jeffrey A. Robinson, Ph.D. is an award winning business school professor, international speaker and entrepreneur. Since 2008, he has been a leading faculty member at Rutgers Business School where he is an assistant professor of management and entrepreneurship and the founding Assistant Director of The Center for Urban Entrepreneurship & Economic Development.

Listen Live: https://www.DFWspeaks.com - Daily trends, topics around business, sales and Dallas-Fort Worth, Texas and what’s trending today and how it relates to entrepreneurs, business owners and commercial real estate in McKinney, Frisco and Plano. Mckinney shelter in place could be overturned - a lawsuit filed by Derek Baker, a realtor in Mckinney, Texas.  He hopes to have the city's order overturned.  Staying open is one thing, having customers to work with is another. Nebraska Furniture Mart distribution center in Kansas City to stay open Real Estate in California seen as essential industry  https://www.ocregister.com/2020/03/28/coronavirus-economy-california-real-estate-sales-now-deemed-essential-industry/ As of the yesterday, 26 governors have issued stated wide shelter in place orders https://www.forbes.com/sites/suzannerowankelleher/2020/03/28/23-states-shut-down-and-counting-state-by-state-travel-restrictions/#99a668e58f4c Obviously the coronavirus is daily if not hourly news.  What should entrepreneurs and business people do?  How long will this last? Lyneir Richardson - (Executive director of the Center for Urban Entrepreneurship and Economic Development at Rutgers Business School) brings up 6 conversations business owners should be having right now. https://www.entrepreneur.com/article/348327 Some landlords are offering help other are not …In Seattle told tenets in a letter "nothing has changed and we will not be offering extensions" https://www.seattletimes.com/business/real-estate/some-landlords-offer-rent-relief-during-coronavirus-shutdown-others-not-so-much/ "The three great essentials to achieve anything worthwhile are, first, hard work; second stick-to-itiveness; third, common sense." Thomas Edison (Describe as America's greatest inventor) There is a google review link where you can leave us an objective review :  https://goo.gl/maps/4pZVt47ESjzYdtEk9

[1:20] Previous role at the Center For Urban Entrepreneurship (See our interview with Ebody Miller, Director of the Center for Urban Entrepreneurship: https://fortheevolutionofbusiness.simplecast.com/episodes/growing-an-inclusive-entrepreneurial) [3:00] How the most joyful moments of her life (the birth of her daughters) led to despair as she tried to navigate parenthood and career [5:25] Going from frustration to business idea, with pivots along the way [8:45] The first Arkatecht solution, AtLast, a professional development matching platform [10:20] The difference between work-life balance and work-life integration [12:40] Possibilities for bringing Arkatecht's tools to entire organizations [15:00] How companies can collect data and ideas on how to be more inclusive for working parents [21:00] Beta-testing Arkatecht's solutions: Endeavor: Helping pregnant professionals better navigate their workdays based on how they're feeling AtLast: Professional development matching platform with recommendations for conferences, seminars, etc. paired with childcare opportunities Affinity: Professional networking platform for working mothers (and fathers) "Integration of your professional needs and goals and those of being parent and member of your family." [26:00] Why Yasmin decided to start a business in Rochester, despite being NYC-born [29:30] Benefiting from Rochester's resources for entrepreneurs, including being incubated at Innovative Solutions (See our podcast with Innovative CEO Justin Copie: https://fortheevolutionofbusiness.simplecast.com/episodes/incubating-conscious-culture-in-tech) [33:20] Hiring for people who connect with the purpose of Arkatecht "Finding people who are innately intellectually curious...find problems and not be deterred by them, but get excited." [37:00] Keeping the long game in mind to balance (or integrate?) purpose and profit "I always think of (my daughters) and if nothing else, Arkatecht is building so that if things aren't as progressive as they should be by then, at least they'll have tools the tools to help them on their way should they decide to endeavor professionally and have children" [41:30] Yasmin's vision for a future where technology tools can help others plan proactively for challenges like cancer or Alzheimer's disease [43:20] The business case for inclusive cultures for working parents "When you lose people because you haven't supported them to be their best and do their best professionally AND in their parent or caretaking role, you feel the immediate financial and nonfinancial costs, and the long-term." "Part of the problem is that when people do their budgets, they don't have a line item for 'this is the cost for us not adequately supporting our people.'" Learn more: https://www.arkatecht.com/ Contact Yasmin: ymattox@arkatecht.com)

This week, we conclude our series on entrepreneurship in the black community by interviewing Mr. Marcus Crawford, the co-owner of a rapidly successful food truck and brand—Bro-Ritos. Over the course of the interview, we learn about Marcus Crawford’s journey to building a successful business in the food industry. We begin by discussing his life prior to Bro-Ritos (16:28), how he transformed Bro-Ritos from an idea to a reality (19:02), the challenges associated with building a brand (21:34), and his entry into the food industry (26:54). We also have a conversation about the debate on whether a college degree is necessary to become an entrepreneurial success (30:38), the power of partnership and support for success (32:58), and Marcus’ experience with the Rutgers University Center for Urban Entrepreneurship and Economic Development (34:18). We close by discussing startup issues faced by entrepreneurs of color (36:55), the future of Bro-Ritos (41:00), and keys to success in business (42:23).  Other Topics Include:  00:30 - Catch up with Ty and Daphne 02:05 - BhD “Oh Lawd” News 13:21 - Introduction of the Topic 14:49 - Learn more about Marcus Crawford 49:02 - Ty and Daphne Reflect on the Interview  Resources:  Bro-Ritos Food Truck - https://www.broritosfoodtruck.com  Trucking with Bro-Ritos YouTube Series - https://www.youtube.com/channel/UCZlrUYBcx-C1lxJ6fDzBWHw  Bro-Ritos News - http://www.roi-nj.com/2019/01/11/lifestyle/driven-to-succeed-in-just-2-years-bro-ritos-specialty-burrito-food-truck-is-gaining-speed-and-growing-revenue/  Rutgers University Center for Urban Entrepreneurship and Economic Development - http://www.business.rutgers.edu/cueed 

Jill Johnson is helping women of color entrepreneurs succeed! Today, in 2019, 40% of the businesses in the U.S. are owned by women. In this podcast, Jill Johnson and I discuss the challenges faced by women of color in starting a business, finding the capital to underwrite its growth, and developing the business acumen to successfully take their ideas and turn them into brilliant innovations. It is never easy. Listen in and learn how Jill did it! Access to capital (or lack of access) is a legacy challenge with roots deep in our American history, especially for entrepreneurs of color.  Women of color are starting businesses at higher rates than anyone else, yet they get less capital, have fewer successful exits and produce less income for owners. While there have been innovative capital solutions in recent years, capital constraint remains a defining problem for the majority of women of color entrepreneurs. Jill talks with us today about how she is attacking this problem by sharing her expertise for creating the connections that open doors to opportunity. In our fascinating conversation, Jill and I talk about her family of entrepreneurs who started and ran a successful newspaper business in New Jersey. But, as we know so well, the newspaper business is not a flourishing growth industry, so Jill and her father turned their attention to developing resources for entrepreneurs, particularly women entrepreneurs, so that they, too, could be successful business leaders.  As a major step in this direction, Jill co-founded the Institute for Entrepreneurial Leadership (IFEL) in 2002, then launched the IFEL Adopt-a-Business Program along with a broader initiative called Women of Color Connecting whose convening summit, January 31-February 1, 2019, helped women of color build their networks, pitch their ideas and find the support they need to thrive.   Women are becoming a major force in business: As of 2018, there are 3 million women-owned businesses in the U.S., compared to only 402,000 in 1972. Women now own 4 out of every 10 businesses in the U.S. Since 2007, the number of women-owned businesses has increased by 58%. Overall, businesses have only increased by 12%. Last year, 1,821 new women-owned businesses were launched every day, with 64% of those founded by women of color. Women are slightly more likely to start a business than men, according to the SCORE report. Now the big question facing all of us is how to help them succeed. At SAMC, that's what we're all about—helping people become successful business leaders. That's why in early 2018, Andy and I launched The Simon Initiative for Entrepreneurship in partnership with Washington University’s Skandalaris Center for Interdisciplinary Innovation and Entrepreneurship to connect entrepreneurs, particularly women, with the resources they need to launch their ventures. In addition, we've created an Ebook Primer for Entrepreneurs and a 6-Step Process for Entrepreneurs. Along with Jill, our mission is to open doors to opportunity. Stay tuned!  Some background on Jill Jill Johnson is the Co-founder/CEO of the Institute for Entrepreneurial Leadership (IFEL). With nearly 30 years' experience as a business strategist, she possesses expertise in financial analysis, marketing and business development. She is an advocate for community businesses and micro-enterprise and is a leading authority in the area of minority inclusion in the entrepreneurial world. She is also a highly-sought-after speaker on topics including: community economic development, business plan development, entrepreneurship, minority and women-led small business growth, and access to capital. Jill started her career as a financial analyst at Goldman, Sachs & Co, then joined City News Publishing Company. From there, she became President of On Point Consulting, a strategic business planning consultancy, advising early-stage businesses through a variety of strategic planning and growth issues. As CEO of the Institute for Entrepreneurial Leadership, Jill is responsible for strategic direction and capacity building, and has led the company in successfully winning contracts with the New Jersey Department of Labor, the Newark Urban Enterprise Zone and the Rutgers Center for Urban Entrepreneurship and Economic Development. Jill is also a member of several advisory boards, including the National Center for Entrepreneurship and Innovation (NCEI) Entrepreneurship Council and the Red Tape Commission. She earned her B.A. in economics from Harvard University and is married with four amazing sons.  Want to learn more? A collection of blogs and podcasts you will enjoy: Blogs: 3 Ways A Female CEO Built A Successful Business With A Culture of Collaboration Successful Entrepreneur Sees “Holes in the Cheese” and Builds Great Companies to Fill Them It's Time to Change the Workplace So Women and Businesses Can Thrive Terrific Websites to Empower Successful Women Entrepreneurs Why Women CEOS Are So Different and So Successful Podcasts: How Women Entrepreneurs Can Think Bigger, Build Sustainable Businesses, and Change the World "Work PAUSE Thrive" with Lisen Stromberg Lisa Perrine—Exciting Times to Rebuild A Business Tanya Hall—How a Woman CEO Built a Great Publishing Business Additional resources: Institute for Entrepreneurial Leadership Women of Color Connecting  IFEL Adopt-a-Business Program My book: "On the Brink: A Fresh Lens to Take Your Business to New Heights" Our website: Simon Associates Management Consultants    Download the 1-page synopsis of my book, "On the Brink: A Fresh Lens to Take Your Business to New Heights" here

Building an entrepreneurial ecosystem has traditionally meant focusing on what Ebony Miller-Wesley calls "opportunity entrepreneurs" looking to build high-tech, high-growth businesses. Yet for "necessity entrepreneurs," the needs are different as is their access to resources, capital and education. ...But the conversation is changing! Ebony is leading that change as the Director of the RIT Center for Urban Entrepreneurship (CUE), which both provides business and consulting services and also acts as a hub to connect urban entrepreneurs to the other resources available throughout the ecosystem in Rochester. Although the CUE is still in its early stages and continues to evolve, Ebony has been speaking at national conferences to leaders in other communities that want to learn from this evolving model. Tune in to this episode to hear how Ebony and the CUE are building a more inclusive entrepreneurial ecosystem in Rochester! Ebony leads the center’s efforts to raise funds to provide critical assistance to underserved businesses in high growth sectors, and foster outreach and collaboration with the Rochester City School District and entrepreneurship education for dislocated workers. She also maintains partnerships with entrepreneurship and training efforts currently found within RIT’s Simone Center for Student Innovation and Entrepreneurship, Venture Creations business incubator, as well as other community, government and economic development organizations. Prior to joining RIT, Ebony worked as program coordinator at the Urban League of Rochester’s Minority and Women Business Development Division where she assisted entrepreneurs with growing their business and aspiring entrepreneurs with identifying their needs. Ebony is a 2016 Rochester Business Journal Forty-Under-40 honoree, has numerous community connections, including serving as a member of the Salvation Army Board of Advisors, member of the Rochester Prep Board of Trustees, member of the PathStone Enterprise Center Loan Committee, member of the Class of 2015 Leadership Rochester, and a member of the 2013 class of the African American Leadership Development Program. [2:00] The beginnings of the Center for Urban Entrepreneurship [3:45] Capacity-building program for entrepreneurs seeking growth -Training in sales, marketing, financials, leadership -For entrepreneurs whose businesses have been open for at least 1 year and are generating revenue -$250 cost [7:50] Other workshops and development opportunities [10:30] Mapping and collaborating with other resources available in the entrepreneurial ecosystem -ESL, Pathstone, City of Rochester, Rochester Downtown Development Corporation, SCORE SBA, Urban League, Venture Jobs Foundation [17:00] Success stories: A public relations startup, a new line of business for a cleaning company [29:30] For "necessity entrepreneurs," access to resources, capital and education is different (compared to "opportunity entrepreneurs" of high-tech, high-growth companies), but the conversation is changing and service providers are evolving. [32:15] Coaching for aspiring entrepreneurs [35:15] Creating a tracking system across the ecosystem [39:30] Working toward developing a sustainable model [41:00] How the community can support the CUE Learn more at rit.edu/cue

Each Money Making Conversations radio talk show with host Rushion McDonald is about entrepreneurship and entertainment. We provide the consumer and business owner access to Celebrities, CEOs, Entrepreneurs and Industry Decision Makers. They in turn deliver information about career planning, motivation, financial literacy and how they lead a balanced life. Appearing on the show this Monday, Richelieu Dennis, Founder of SheaMoisture, Founder & Chairman of Essence Ventures, which includes Essence Magazine and Essence Festival; Drew Bledsoe, retired NFL player and owner of Bledsoe Family Winery; Melissa Harville-Lebron, the first African-American female NASCAR team owner; Lyneir Richardson, Executive Director of the Center for Urban Entrepreneurship and Economic Development, Rutgers Business School.Don't miss Money Making Conversations with host Rushion McDonald streaming LIVE every Monday at 10AM-12PM EST on biz1190 (www.biz1190.com), on our Facebook fanpage at Facebook.com/MoneyMakingConversations, anytime through our iHeartRadio Podcast, which can be found under the Business/Finance Section, Fridays at 10AM ET on SiriusXM Channel 141: H.U.R. Voices and Fridays at 7PM ET on SiriusXM Channel 142: HBCU. We want to keep you Winning with your Career and your Life! #AskMMCThe Money Making Conversations radio talk show shares the “Secrets of Success” experienced firsthand by marketing and branding expert Rushion McDonald. Mr. McDonald is a brand guru and has been a marketer for major national and global brands like State Farm, Ford and Home Depot. He has worked with Kevin Hart, Stephen A. Smith, Jamie Foxx and most notably, Steve Harvey and will provide access to women and multicultural markets to expand the reach of your brand. The show features one-on-one career advice to callers, contributions from corporate leaders, successful entrepreneurs, celebrity interviews regarding their business ventures, social media branding, financial planning and information to empower small businesses to a path of success!“The Kind of Talk that Inspires Change.”https://www.facebook.com/MoneyMakingConversations/https://www.iheart.com/podcast/53-Money-Making-Conversations-28341098/https://www.rushionmcdonald.com/https://www.facebook.com/rushionmcdonald/https://twitter.com/RushionMcDonaldhttps://www.instagram.com/rushionmcdonald/https://www.linkedin.com/in/rushionmcdonaldhttp://biz1190.com/radioshow/5557Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSupport the show: https://www.steveharveyfm.com/See omnystudio.com/listener for privacy information.

Each Money Making Conversations radio talk show with host Rushion McDonald is about entrepreneurship and entertainment. We provide the consumer and business owner access to Celebrities, CEOs, Entrepreneurs and Industry Decision Makers. They in turn deliver information about career planning, motivation, financial literacy and how they lead a balanced life. Appearing on the show this Monday, Richelieu Dennis, Founder of SheaMoisture, Founder & Chairman of Essence Ventures, which includes Essence Magazine and Essence Festival; Drew Bledsoe, retired NFL player and owner of Bledsoe Family Winery; Melissa Harville-Lebron, the first African-American female NASCAR team owner; Lyneir Richardson, Executive Director of the Center for Urban Entrepreneurship and Economic Development, Rutgers Business School.Don’t miss Money Making Conversations with host Rushion McDonald streaming LIVE every Monday at 10AM-12PM EST on biz1190 (www.biz1190.com), on our Facebook fanpage at Facebook.com/MoneyMakingConversations, anytime through our iHeartRadio Podcast, which can be found under the Business/Finance Section, Fridays at 10AM ET on SiriusXM Channel 141: H.U.R. Voices and Fridays at 7PM ET on SiriusXM Channel 142: HBCU. We want to keep you Winning with your Career and your Life! #AskMMCThe Money Making Conversations radio talk show shares the “Secrets of Success” experienced firsthand by marketing and branding expert Rushion McDonald. Mr. McDonald is a brand guru and has been a marketer for major national and global brands like State Farm, Ford and Home Depot. He has worked with Kevin Hart, Stephen A. Smith, Jamie Foxx and most notably, Steve Harvey and will provide access to women and multicultural markets to expand the reach of your brand. The show features one-on-one career advice to callers, contributions from corporate leaders, successful entrepreneurs, celebrity interviews regarding their business ventures, social media branding, financial planning and information to empower small businesses to a path of success!“The Kind of Talk that Inspires Change.”https://www.facebook.com/MoneyMakingConversations/https://www.iheart.com/podcast/53-Money-Making-Conversations-28341098/https://www.rushionmcdonald.com/https://www.facebook.com/rushionmcdonald/https://twitter.com/RushionMcDonaldhttps://www.instagram.com/rushionmcdonald/https://www.linkedin.com/in/rushionmcdonaldhttp://biz1190.com/radioshow/5557 Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers