More Than Music – Akon

His name is Aliaune Damala Badara Akon Thiam but the world knows him plainly as Akon. He’s an American-Senegalese based singer and producer introduced to us through pop culture by way of some pretty huge hits, yet little has been said about his impact as an entrepreneur. If anyone is wondering why Akon somewhat disappeared from the public eye, at least on the U.S. music scene that is, it’s because he’s been building businesses and investing smartly.

With an estimated net worth of over $80 million, there’s honestly no way to keep up with his many business ventures. He’s gone from music to real estate and tech, to agriculture and energy – yes, energy.

In 2014, he launched Akon Lighting Africa in effort to provide energy throughout his home continent.  The company provides environment-friendly and cost-effective solutions to address concerns in more than two-thirds of the population of sub-Saharan Africa that are without electricity, and to reach more than 85 percent of those living in rural areas lacking access.

With a billon dollar credit line from a Chinese partner, Akon is leading a movement to illuminate Africa with more than 100,000 solar street lamps installed across 480 communities in 15 countries, along with 1,200 solar micro-grids and 5,500 jobs created.

This year, his company will begin developing utility scale renewable energy projects throughout U.S. and constructing renewable energy solutions for rural and low income housing communities.

Meanwhile, he’s launched his own cryptocurrency called Akoin and will use the currency to support the Akon’s Lighting Africa Initiative and position it to be the de facto currency in a Senegalese city he’s constructing on 2,000 acres of land gifted to him by the President of Senegal – a futuristic city he describes as “a real Wakanda.”

Never moving too far away from music, he has also purchased 50 percent stake in a music download service based in Senegal called Musik Bi that features over 200 internationally recognized artists. 

So if you’re wondering what happened to Akon, you’re out of the loop and have some catching up to do.

His unique perspective as an African born in American is cradled in a heart for his homeland – a perspective grounded in the belief that the only way to build the continent of Africa is with less charity and more revenue-generating businesses that create opportunities for local people.

This bag collector is not only coming up with market-driven solutions that impact the globe, he’s proving that he’s more than music.

 

This post is the part of The Bag Collector series – a spotlight posts that feature serial entrepreneurs of color each recognized for their ability to diversify in business, wealth and investments. These individuals exemplify what it means to be creative and unapologetic in pursuit of entrepreneurial excellence, and ultimately collect the “bag” then use it to make greater community impact.

A Martyr for the People – Thomas Moss

Kroger and Publix, Wal-Mart and Target, every successful business has its competition. There’s inspired competition – the kind that motivates you, challenges you, and makes you chase after success. And then there’s competition that only wants to see you lose and drive you out of business. The story of Thomas Moss is one that undeniably captures the trauma of competition that black entrepreneurs faced while working to acquire wealth post-slavery.

In 1889, Thomas Moss and 11 prominent black investors, opened The People’s Grocery. The store was located just outside Memphis in a neighborhood called the “Curve.” News of this black owned business spread quickly and black people in the community began to feel empowered. 

Moss was motivated to attain wealth and invest into his community. A postman by day, he used earnings delivering mail to invest in his start-up idea of a community grocery store. He delivered mail by day and ran People’s Grocery by night. And, as family man in the community, his popularity lent great success to his entrepreneurial pursuits. 

With this cooperative venture for the store, a unique structure of its kind in those days, he ran along corporate lines and made his store the 5th largest wholesale grocery market in the country. Moss was an instant success. His store brought capital to the black community while also instilling a sense of pride. 

Sadly, his social nor economic status was able to save him from the racial hostility of the South. Across from Moss’ store was another store owned by a white man, and many white people in the community were not pleased. Many felt as if they shouldn’t compete for the black dollar and the People’s Grocery quickly became an enemy of their white competitors. Moss was confident. He ignored the animosity and persisted to thrive in business. He knew the blacks in the community loved him and would support his grocery store.

In March 1892, a series of racially charged fights broke out outside of the store. Two of Moss’ workers went outside to ease the tension. Moss along with his two workers were arrested and later dragged out of jail by an angry mob of 75 white men. They all were publicly lynched while in police custody. ⁠

Moss was asked if he had any last words and he stated, “Tell my people to go west. There is no justice here.” This lynching became known as the Lynchings at the Curve. ⁠Ida B. Wells, a famed anti-lynching journalist and a dear friend to Moss, was set to show through media that lynching had become a tool of economic terrorism and disenfranchisement and became a vocal champion to broadcast the lynchings as they spread especially among black male business owners.

Many black entrepreneurs lynched across the South were people who dared to be their own boss or were perceived as having too much ambition, property or talent. Moss’ lynching, like many others, was framed as an organized act of extralegal violence and a punishment for becoming an economic competitor to whites.

The success and sacrifice of Thomas Moss has major takeaways for us today. The idea that discrimination is alive and well is true but the promise that opportunities are endless for those who fearlessly pursue entrepreneurship is even greater.

For that, we have martyrs like Thomas Moss to thank.

 

This post is the part of The Bag Collector series – a spotlight posts that feature serial entrepreneurs of color each recognized for their ability to diversify in business, wealth and investments. These individuals exemplify what it means to be creative and unapologetic in pursuit of entrepreneurial excellence, and ultimately collect the “bag” then use it to make greater community impact. 

She’s The One – Nichelle McCall Browne

Less than 1 percent of black women founders get VC funding.

Nichelle McCall Browne, CEO of Bold Startups, is one of 1 percent. She raised $1/2 million within a year as a non-technical founder of her own software company.

She’s been helping entrepreneurs boldly launch and grow businesses since 2007 and has managed two business accelerators, where entrepreneurs have made collectively over $3.6M in revenue within a few years.

Here’s her story:

How did you get started on your journey to entrepreneurship?

My entrepreneurial journey started with me being unemployed in 2010. I had just completed my master’s degree and was recruited for a position back home, when at the last minute the organization went another direction. So I found myself unemployed. At that moment, I decided to never leave my financial future in the hands of someone else. That was when I started working on my first consulting business.

What is your definition of a serial entrepreneur?

I define a serial entrepreneur as someone who frequently sees new opportunities or challenges and starts new businesses to address them.

How many business ventures have you been involved (as owner, investor, partner, etc) and what has been your process for managing them all?

I have started four businesses of my own in consulting, tech, real estate investment and startup coaching. I have also managed two business accelerators helping individuals launch and grow their businesses. Our entrepreneurs collectively have made over $3.6 million in a few years.

When starting my business ventures, I usually focus on launching one at a time, so I can learn what works and what can be tweaked. Once it’s steady, I hand it over to others to manage so I can focus on the next business.

In general, what would you say has been your biggest challenge as an entrepreneur?

My biggest challenge was definitely starting a tech company as a non-technical founder. I had an idea for leveraging software to help students navigate the college application process, but I did not have a background in coding. Fortunately, I ended up finding advisors who taught me how to build an investment-ready business, find the right paying customer, and create revenue-generation milestones. This led me to raising $½ million in a year and I have used these principles in my businesses since.

How satisfied are you with your success thus far? What area of business do you want to tackle next?

I’m content with the progress that has been made thus far and excited for what’s next.

Right now, I’m focused on growing my Money Milestones program that teaches consultants and service-based businesses to build six-figure businesses, so they can be full-time and financially-free. The entrepreneurs I’ve served have seen great success so far, so I’m putting more systems and teams in place to scale my reach. As the business grows, I’ll use more of the profits to continue to invest in businesses, missions, and real estate.

Share a quick example of a time you collected the “bag” and circulated it throughout a segment of your community to give back and make greater impact.

I once had a nonprofit client I was working with to raise money for a new multipurpose complex. I ended up donating half of the money from my contract back to the nonprofit as I truly believed in the mission.

What advice do you have for entrepreneurs who fear they may be doing “too much” at once?

When your business services are aligned and you have a team to help with management, it’s easier to focus on successfully growing them.

In this situation, you will not always have to create something from scratch, but rather leverage what you already created in order to multiply revenue.

Website: https://www.nichellemccall.com

LinkedIn: https://www.linkedin.com/in/nichelle-n-mccall/

 

This post is the part of The Bag Collector series – a spotlight posts that feature serial entrepreneurs of color each recognized for their ability to diversify in business, wealth and investments. These individuals exemplify what it means to be creative and unapologetic in pursuit of entrepreneurial excellence, and ultimately collect the “bag” then use it to make greater community impact. 

Where Innovation and Funding Meet – Buzz from the 2015 Black Enterprise Entrepreneurs Summit

The Black Enterprise Entrepreneurs Summit is always a great place for networking and an important moment to invigorate as an entrepreneur. This year’s event held in Atlanta was buzzing with topics, tips and tools for small business owners new and seasoned.

Here are a few highlights on my Storify story. http://sfy.co/f0bvK

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