Study Hall: HOW BLACK BUSINESSES CAN BE SUCCESSFUL - podcast episode cover

Study Hall: HOW BLACK BUSINESSES CAN BE SUCCESSFUL

Oct 22, 202125 min
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Episode description

In this Study Hall entrepreneur Superstar Kezia M. Williams discusses how black businesses can succeed and the power of group economics.


Full Episode on YouTube: https://youtu.be/5qgzYFVJt-M


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Transcript

Speaker 1

An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from Al Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christy nom the United States

Secretary of Homeland Security. Under President Trump, attempted illegal border crossings are at the lowest levels ever recorded, and over one hundred thousand illegal aliens have been arrested. If you are here illegally, your next you will be fined nearly one thousand dollars a day, imprisoned, and deported. You will never return. But if you register using our CBP home app and leave now, you could be allowed to return legally.

Do what's right. Leave now. Under President Trump, America's laws, border and families will be protected.

Speaker 2

Sponsored by the United States Department of Homeland Security.

Speaker 3

We got to introduce Kezia just a Domino.

Speaker 4

It's crazy because since the last time that we we spoke, Since the last time that we spoke, you had so much stuff going on. You had you had the campaign where it was my black was my black receipt, my black receipt, and and that was all over.

Speaker 3

That was on CNBC, that was on We Saw You CNN. That was everything.

Speaker 4

Yeah, so let's talk about that. I want that's the first thing. I want to talk about that, because that really took off. And I'm not sure how much money. I'm sure you can. I got some SATs, I got some SATs. Yeah, you did five hundred k in three days. Let's not let's in three days.

Speaker 5

We did five million in three weeks and three weeks.

Speaker 2

Here go to economics.

Speaker 3

So what what was that? What exactly was that?

Speaker 6

Yeah, it was such an amazing experience.

Speaker 7

I think, like a lot of people out there, especially black people, we were watching the civil unrest unfold for yet another time across America, and during that time, people were really asking the question what can we do, like, how can we affect change so that George Floyd can be the last name that we ever have to say in relation to justice. And so I remember people saying

that maybe it looks like buying black. And though I think that buying black is important, I think that there are a lot of people on social media that will promulgate the narrative of buying black, but we don't actually know if they're putting their dollars in black businesses.

Speaker 6

So I thought about it.

Speaker 7

I said, what if we were to actually quantify the by black movement?

Speaker 6

And I called up.

Speaker 7

One of my friends who is a tech person, and I said, do you think that you could build something kind of like Color of Change where people would buy black, save their receipts, and upload it into a tech platform and we could count the impact collectively. And so he was like, yeah, I can totally build it. What's the

timeline like years, six months? And I was like no, we got like four or five days, child, And I was like, but it's okay, we can do and remember faith this and sustance of things pro for and the evidence of things not yet seen.

Speaker 6

We can do it.

Speaker 7

So he started building a tech platform and I recruited a couple of other people to join us, Talent.

Speaker 6

Graves, Men's Daryl Perkins, nineteen kids, who's also been on your show.

Speaker 7

Yeah, we decided to just launch it on June teenth to see if people would put their receipt where their protest was. I mean, we were tired of black people, black men going into coffee shops and being treated like criminals, black boys being wearing Monkey in the Jungle t shirts,

and people just protesting for fifteen or sixteen days. The Montgomery bus boycott was for three hundred and eighty plus consecutive days until we were able to exact the type of change that we could feel generations later.

Speaker 6

And so my black receipt was just really a reflection back.

Speaker 2

So where are we at now with the.

Speaker 6

We're in faith two?

Speaker 2

Okay, there we go.

Speaker 6

Yeah, what happened.

Speaker 7

People were saying, okay, but I'm black for one day is just not enough, and we have to remind people that we did this for seventeen consecutive days. But what we realized to the technology is after the seventeenth day happened, people were still uploading the receipt, and so we decided to strengthen the technology so that now when you upload your receipt, you can see all of the other transactions

that you've made over time since June nineteenth. And then also we've partnered in the corporate space, so Kroger reached out. Kroger is super excited to work with us to increase their minority supplier pipeline, so there could be more black skws on shelves. We've had conversations with other corporations like YOP so that we can help strengthen their algorithm around

finding black owned businesses. And there are a lot of other tech companies that are just like, hey, we're not doing this hard black thing right, so like how can we do that with my black receipt?

Speaker 6

And we're like, cut a check in.

Speaker 3

We're there, cut a check that simple check.

Speaker 4

It's that simple. It's that simple. Now you know your your inspiration for for many, for many, many people. And it's just like anytime we speak to how the energy just.

Speaker 2

It's never to say I was just gonna say that. Man.

Speaker 5

The reason I love speaking and watching you is because the energy is always consistent. It's always consistent. From the second we met you. It was just like I sat there and all I'm like, yo, I just learned a lot. I was my brain was hurting. I was like, yo, that was a lot. And so we were just so happy to have you and your episode episode fifty fifty eight. If you haven't checked that episode fifty eight, shoty what they.

Speaker 4

Do doing themselves a tremendous the service, But I wanted to ask you a question before we before we let the public.

Speaker 3

Act you questions.

Speaker 4

It's like we're in the age, like you said, as far as you know, put your money where your mouth is, put your push, your money where your protest is. I like that, But how do we sustain that? Like, how do we sustain everybody's talking about buying black right, buying black right now, and economic empowerment and support black businesses. But how is that something that we can sustain and not just make it a fad, but make it ten years, twenty years, one hundred year thing.

Speaker 6

No, that's an.

Speaker 7

Excellent question, because buying black shouldn't just be in a response to a protest. So yeah, we can tell you put your receipt where your protest is, but that should be a continuation of what you were already doing. Buying black should be habitual, And so let me just say that one more time, Buying black should be habitual. At the end of COVID nineteen, forty percent of black enterprises are expected to close. But Black people spend one point

three trillion dollars annually. That is money that we're spending on our clothes, on our shoes, those are that's money that we're spending in our brokerage accounts. You know, I watched market Mondays from time to time. That's money that we're spending on our hair, on our lashes. So every single time you think about making a purchase, the mentality

should always be how not buy it black owned? And for those people who have had the excuse to say I don't have a black owned business in my neighborhood, at least for COVID if you needed a reason, A lot of people are buying online. So when you have websites like we by Black, when you have other enterprises like those that have whole list of businesses all across the country that do business and physical spaces will also do business online, there is no excuse.

Speaker 6

But also I think in order for.

Speaker 7

Us to sustain the bi black movement, we have to afford black entrepreneurs a measure of grace. So I know, we're used to the whole Amazon you order at five point thirty four and your package shows up at four five thirty five PM just a minute later, because they got.

Speaker 6

Logitus like that.

Speaker 7

So for most entrepreneurs, they are working nine to five and then they're coming home and they're building their businesses six pm to midnight. These are entrepreneurs that are bootstrapping their way to financial success. So when it comes down to doing business with a black entrepreneur, we have to make sure to level.

Speaker 6

Sent our expit.

Speaker 7

The other thing is Black entrepreneurs need to charge what it's worth, and black customers need to pay exactly what it costs. A lot of people are out here running around here asking for friends and family discount.

Speaker 6

Y'all ain't even related.

Speaker 2

Yeah, talk to them, talk to them.

Speaker 6

Like, breathe it on. People.

Speaker 7

Give you the CODs, all of that money that you're saving, take that and put it into a black enterprise right now. Perhaps black entrepreneurs won't feel like they have to beg barl and steal just for a dollar. If we say first, every single time we make a purchase, how can we recycle our dollar and be black with our dollar in common.

Speaker 6

With our sins.

Speaker 2

I mean this is this is a powerhouse. This is a powerhouse.

Speaker 3

Asking for friends and family discount, man, I said plate.

Speaker 5

Cousin, Nah, I can't give it to you. I can't give it to you up at the barbecue. If it's real, we go into the book, my guy, my guy, this is my boy right here, darreus.

Speaker 2

What's going on? I'm to sell you been, I'm muted? Have you there be right there?

Speaker 3

What's up, bro?

Speaker 8

What's really going down?

Speaker 9

Yeah?

Speaker 2

What's good?

Speaker 6

Uh?

Speaker 8

Queen my black receipt that's historical right there, that's historically.

Speaker 2

That's his story.

Speaker 8

She really, she really with with that, with that, with that, that idea out there really showed, you know, not only entrepreneurs but also consumers that, hey, spending money with my people.

Speaker 2

There's nothing wrong with me spending money with my people.

Speaker 6

M absolutely, yeah, that's right.

Speaker 3

Real talk.

Speaker 8

I don't have to be scared to spend money with my people.

Speaker 6

No, it should be a badge of honor.

Speaker 8

Absolutely, it should be second nature.

Speaker 6

Come on now, come on now, let me get off in plate. It should be saying nature straight up.

Speaker 2

I guess, I guess.

Speaker 10

Uh.

Speaker 8

I don't really have no question. I don't really had no question. I actually had a question from from my BC brother. But me and me and me and me and kazill With we're friends on Facebook. So I see all of her posts.

Speaker 2

Listen, you've been following Yeah, yeah, yeah, yeah, I see I see all her posts. I don't don't.

Speaker 8

I don't, I don't miss nothing.

Speaker 2

She drops. Thank you so.

Speaker 6

Much for the love. I really appreciate it.

Speaker 8

Yeah, what so what what are the plans? So is there is there an idea or concept, uh to take my Black receipt to a to another level?

Speaker 7

Yeah, And I want to reiterate that we're partnering with corporations, that we're strengthening our technology. Our goal is not to make it so difficult to hold on to a receipt, take a picture and uploaded. But how can we build the type of software where when you buy Black, we can automatically record the purchase. So we want to make sure that at the end of the year, at the end of the month, really at the end of the week, you want you erners.

Speaker 2

What's up?

Speaker 5

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Speaker 10

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Speaker 7

You can figure out what percentage of purchases we're actually spent in black owne in a bread.

Speaker 8

That makes sense. That well, that really shouldn't be too easy because in my business I have I have an app that I use to take pictures of my receipts to keep track of my taxes.

Speaker 6

So you know, kind of like a quick book. Yeah, something something like that. So we're cooking up something, We're not sitting on our hands.

Speaker 2

The chef ag gonna give away the recipe.

Speaker 5

Yeah around, yo, love bro, We're gonna see We're gonna see you on breaking bread. We're gonna see you in the book club. Obviously, always love bro, Appreciate you.

Speaker 11

Yeah, yeah, I love it, love it. Let's let's go, let's go to I'm gonna say this, Lenia. Hopefully I got that right, Lenia, what's going on? They told me to trust my instinct when I'm saying these names. That's it, right, Damn, It's okay.

Speaker 6

It's okay. I love you guys too.

Speaker 12

So first I want to say, I'm so thankful that I found you guys, because this COVID put me through a real bad depression and it.

Speaker 6

Just helped me. It made me take faith I brought up. I'm so nervous. I can't believe that I'm talking to you guys. Sorry, what you guys, what you guys doing is so helpful for me.

Speaker 12

I'm a black entrepreneur, I'm a procrastinator. So this COVID had made me open my eyes and stopped procrastinating and realizing that I could have done so much. But then the times, you know, fear as you guys have stayed in earlier, stopped me. So I first time purchasing stops just listening to the podcast when I feel like I'm wasting time, when I'm on the bus or the train, I'm on the podcast, listening to the podcast, taking down notes.

I just know the end of this year is something great is going to happen because I have so much information and knowledge due to you brothers and everybody else that's on the podcast. So may God continue to protect you and bless you and thank you. Uh you know, I'm just having issues logging in, but I know that's going to be fixed, and I'm just so excited to learn, just to learn. I purchased so much information doing this COVID, and thank God for the codes that you guys have

been giving out, like the BUDGETNISA. You guys so I know I'm in great hands. So I just wanted to say thank you.

Speaker 3

Oh, thank you, thank you man.

Speaker 2

Ye shout the Tiffany man. She's amazing too.

Speaker 4

Appreciate it, appreciate it. Thank you for your support. And we have to talk about that too. Mental health is a real situation in our community right now, so make sure you check on your neighbors, check on your friends, check with your family members, show some compassion because you

never know what somebody's going through. It's difficult times right now, being isolated, especially for children not going to school with their counterparts, not being able to play sports a lot of times, so you know that that that toll is is draining and you know, to be by yourself all day. So in the midst of you know, this is an entrepreneur show, but all of that goes in the part as far as you can't be you can't you can't be successful in business if you're not mentally sharp, if

you're not physically sharp. So we need to we need to eat good, we need to you know, we need to work out, and we need to socialize, and we need to make sure that you know, these these are trying times that we're in not just financially, but mentally, and we have to, like I said, we have to be compassionate with each other and we have to really take that into consideration before you, before you snap on somebody, or before you go off on somebody, just consider what they might have went through.

Speaker 13

You never know what's what somebody's going through. And no one is exempt, and I want to make that very clear. No one's exempt from going through these type of situations. No one's exempt from depression, no one's exempt from anxiety. That's what comes with being in the state that we're in right now, especially as a country. So we always employ you to reach out, text someone, call someone, go through your contact list.

Speaker 5

You never know what one conversation you can do. Man, I've seen it happen so many times. With just one conversation letting somebody know that you're thinking about them, it could change everything, could change their life.

Speaker 2

So we employ you to do that for sure.

Speaker 3

Sure, So let's let's get let's get a few more questions.

Speaker 5

Yeah, yeah, yeah, Johnathan, were coming to you?

Speaker 2

What's going on? Johnathan? Im mute yourself, you've been unmuted.

Speaker 8

What's going on?

Speaker 3

What's going on?

Speaker 8

You guys can hear me here.

Speaker 3

You guys can hear me.

Speaker 9

Yeah, you clear, perfect, perfect, No, man, appreciate you guys taking my questions today are but before I is a question, I just want to say, you know, I appreciate you guys. You know you guys have I got my r A A count, I got my independent of Broodge account. I'm investing into options. I'm also investing into stocks long term. Also, I'm a license in the show contract. I invested into real estate.

Speaker 4

So qu Queens of Brooklyn, Queens of Brooklyn, Huh you're from Queens?

Speaker 3

Are you from Brooklyn? Hollo o?

Speaker 12

No.

Speaker 9

So I really appreciate you guys. And it's crazy because I was procrastinated to get to join me. Why you know that episode that you guys drive with D Dash. Once you guys hit that fifty, I'm like, oh, man, I gotta get Now is the time for me to get it?

Speaker 6

Like I've been procrastive.

Speaker 9

I was procrassat it you guys one time back down to thirty percent, I'm like, oh, once you got to the back drop with D Dash, I was like, man, man, And That's.

Speaker 8

How I'm feeling right now, you know, Like I'm.

Speaker 9

Coming from Jersey. I just made over three thousand dollars on a small job for somebody contracting.

Speaker 4

So I'm doing the.

Speaker 9

Backdrop while driving back to Harllan right now.

Speaker 3

So call them get the money. What's your question, bro, Well, the question for the queen is you know how?

Speaker 9

You know how when you find yourself coming up with this idea?

Speaker 3

Right?

Speaker 6

Yeah?

Speaker 9

And what precision were you at that moment when you came up with this idea?

Speaker 12

And uh and.

Speaker 9

What versity were you facing at the time before you came up with this great idea?

Speaker 7

Yeah, I appreciate that. I just want to also send my flowers to Leney. I think what she just did, what she just admitted, was so brave, right, And I think as as a Phillips said that we are going through a lot during this time, especially extroverts like like me who were at hohone by themselves just trying to figure out not how to talk to the walls. But one of the things that I did pick out from

what Renee said is that she was scared. And what I like to tell entrepreneurs innovators alike is that if you're scared to do it, do it scared. And that's exactly what you did when you joined eyl University, when you took a chance on Rashad and Troy, you invested in yourself and they maximize your return. So I definitely want to give you your flowers.

Speaker 6

There.

Speaker 7

You asked what adversity was I going through during the time. I had this long story, But guys, I promised, I'm gonna I'm gonna compartmentalize it, know, like.

Speaker 6

What drove me to black upstart.

Speaker 7

But I was taught that the definition of success is you go to high school, you get a diploma, you go to college, you get a degree, and then you get a good government job with benefits. And I did exactly that. I followed the blueprint to a tee. But then I realized in the workplace that even though I was working twice as hard, even though I felt like I was twice as smart, I was still being paid

in separate but unequal paycheck. I was demoted three consecutive times by a white woman who could not believe that a woman without an advanced degree could get promoted five times over six years. And so after the third demotion, I just made up my mind to say that I wanted to create my own economic opportunity in life, and so I quit without having another job lined up, and I promised myself that I would never let another hand feed me, that my nine to five would always be

one of several streams of income. It was during that time that I read the troubling statistic that black women would lose eight hundred and forty thousand dollars over their career, not because they're not working twice as hard, not because they're not twice as smart, not because they're not twice as good, but simply because they're black and because they're women.

And so black women like me who are out here creating enterprises aren't trying to be the next Black Bill Gates, are not trying to be the next black Mark Zuckerberg. We're just trying to make sure that we pay ourselves

exactly what we're worth. And so for black ups start, I started to train black entrepreneurs like me not just to start enterprises, but just start the type of enterprises that create jobs, so we wouldn't have to go begging other people for promotions, begging other people for opportunities, begging other people for paychecks that we could create and sign ourselves, so we were could be just like Troy and somebody tells us that we have to pull up on a Tuesday, and.

Speaker 6

We could be like, Nah, bro bros are set up.

Speaker 5

I want I want to I want to correct one thing you said that you quit in the words of nineteen Keys, you fired your job.

Speaker 2

They can fire your job. They could, they could no longer afford you.

Speaker 3

Speak heavy speak heavy. Now. It's been a pleasure. It's been a pleasure.

Speaker 4

What what Episode fifty eight, fifty eight, Episode fifty eight. We're gonna be doing a bunch of more stuff in the future, So thank you for joining us. Thank you for being a part of our journey. Nah, we we greatly appreciate it. We look we look forward to doing a bunch of more stuff together in the future.

Speaker 2

That's right, That's right, all right, Guy Williams. Always love, Thank you, peace.

Speaker 8

My graduates from my school being force back and drop bags, drop Mike, drop.

Speaker 3

Back, drop b drop.

Speaker 1

An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from El Salvador accused of murder ring a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christy Noman, the United

States Secretary of Homeland Security. Under President Trump, attempted illegal border crossings are at the lowest levels ever recorded, and over one hundred thousand illegal aliens have been arrested. If you are here illegally, your next you will be fined nearly one thousand dollars a day, imprisoned, and deported. You will never return. But if you register using our CBP home app and leave now, you could be allowed to

return legally. Do what's right. Leave now. Under President Trump, America's laws, border and families will be protected.

Speaker 2

Sponsored by the United States Department of Homeland Security.

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