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Meet the Minority Entrepreneurs Making Waves in Memphis | Made in America Ep 1 - YouTube
Channel: GoDaddy
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there's a lot of things that you don't
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know it's not like you take this
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handbook you follow the steps and then
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you're sisters for business offer it's
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not hard work I'm accustomed to doing
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one problem at a time
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and now you have 20 but I love it when
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you tell me what I can do it makes me
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work harder like what other struggles
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you had you know as an entrepreneur your
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uncle I still feel like I'm in the
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struggle America has always been
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associated with making it but is this
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opportunity accessible to all I'm Scott
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Shaggy oka GoDaddy's
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entrepreneur-in-residence
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and I'm on a journey across the country
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meaning the people who are building it
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they're defying the odds and their
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stories show us what it means to be made
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in America I'm four generation
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japanese-american my whole family grew
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up in Hawaii I come from like a line of
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entrepreneurs I tend to be really
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positive and see failure or setbacks as
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an opportunity to grow and I think
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that's a core part of being an
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entrepreneur right we all have this grit
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I think there's this way of thinking
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this perseverance this mindset that
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entrepreneurs have and they think why
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not me and yeah why not you that's why
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I'm excited to explore this role as
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entrepreneur in residence to think back
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to my journey and what it was like for
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me to set up a business and to share and
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learn from others who are on that same
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journey to I think entrepreneurs are
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creators their inventors the majority of
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entrepreneurs are the people that are in
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suits they are everyday Americans like
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you and I who are creating something new
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the goal of the series is to highlight
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everyday entrepreneurs I think we have a
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perception of what an entrepreneur is
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but we're trying to expand that
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definition there are entrepreneurs
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everywhere in our country and that's why
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we're here in Memphis
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Memphis has a thriving ecosystem of
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entrepreneurs there's a lot going on
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here Memphis there's a lot of talent in
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Memphis people look for opportunity
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hungry growing up in Memphis you can
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always see a lot of different
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family-owned small business that goes
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back for so many years tell me about
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your upbringing in Memphis what was that
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like oh well I was born and raised in
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the projects you know what the projects
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I tell me about it project where a lot
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of us African Americans believe you know
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we were poor my grandparents were actual
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slaves they lived on a plantation one of
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the stories my dad always told me about
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was how I used to kill bullfrogs in the
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swamp and go set them on the corner for
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a nickel apiece broad legs and he was
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making more money than his mom and dad
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was on the farm that kind of started off
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a psychology of being able to go out and
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make money a different way he was the
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first African American to have a
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distribution deal with clear mission so
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I grew up working for him and learning
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principles the values that I would never
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got anywhere else there's this idea that
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the generations that came before us we
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carry their trauma their joy like all
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the things that they went through we
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have it in us too
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[Music]
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Memphis has the blood of doctor monitor
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King on our hands no matter how many
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years past he came here for equal pay
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for the sanitation workers we know the
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history you know I know I stand on his
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shoulders among many other
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african-americans and known
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african-americans who were in the fight
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and those entrepreneurs like Adam Wells
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who started a haircare line back then it
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was like straightening hair Memphis is a
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place where struggle has been present
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people have gone through that adversity
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and have come out on the other side here
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I mean this is the epicenter of the
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civil rights movement this is a place
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where people have pushed for equality
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have pushed for something new but we
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also need to think about Memphis in a
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national context local community
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businesses should be supportive because
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they really are the backbone and the
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lifeline to this country we have to
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remember that it's not just Tennessee
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it's not just Memphis that's going
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through this DC is a place where
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brilliant minds come together to think
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about these really big problems you
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mentioned Memphis Tennessee in
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communities where job creation has not
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been robust this is how you bring jobs
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into those communities but to the
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everyday American like why does this
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matter like why should I care about
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supporting small businesses right
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figuring out not just how to help them
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spark but really this question of how we
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help them grow and realize their
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potential is really really important
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from a national economic perspective
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small businesses where innovation
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happens they are providing over 31% of
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all the jobs in this country why is it
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important to serve these
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you know underserved groups ready to
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become entrepreneurs one of the
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challenges we've seen in the last couple
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decades is that actually rates of
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entrepreneurship are declining what's
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interesting is if you look underneath
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the data the places where we're seeing
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higher relative rates of small business
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creation are among women are among
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people of color are among immigrants so
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these are the folks who are starting
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businesses in a time when we're seeing
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that generally declining so they're
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pretty precious and you want to invest
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in them but they're also the people we
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know who've had the biggest barriers
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coming from where I come from receiving
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a business loan of any amount is unheard
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of my mom didn't finish high school my
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father didn't finish high school I'm the
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only one of my mother's children to
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graduate college friends and family are
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the most widely used source of startup
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capital so that's not really bootstraps
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that's not you that's somebody else who
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you're lucky enough to know people often
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finance their businesses they use
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savings or they use a home equity line
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of credit african-americans in
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particular they've been redlined out of
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neighborhoods where there's seen a lot
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of housing appreciation if you look at
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the history of different kinds of
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predatory lending in the u.s. whether
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it's things like payday loans or things
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like subprime mortgages it's often
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communities of color that are most
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intensively targeted with those products
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so you sort of roll all these things
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together and it's one of the reasons why
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we see it's really challenging for
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people of color I didn't come from
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anyone who ever thought about starting a
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business so I didn't have a blueprint to
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go by and that's why I'm really excited
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for the class
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welcome everybody to our social media
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marketing bootcamp today so excited to
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have all of you here I'm Cynthia Terry
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with communities unlimited I'm the
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director of our entrepreneurship program
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and our goal is for you to be successful
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in the u.s. we have these entities
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called Community Development financial
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institutions then they are particularly
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targeting people who aren't served by
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traditional lending banks don't look at
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people in terms of their character they
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look for assets and wealth and all of
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those things what's different about what
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communities unlimited does for small
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businesses is the combination of the
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small business lending as well as the
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business and management skills training
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that we provide communities unlimited
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helped me from start to finish to get my
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product to the shelf I'm telling you
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everybody told me no the banks lenders
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everybody told me no communities
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unlimited gave me my first yes that's
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one of the reasons we decided to partner
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with GoDaddy was so we could offer this
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training to help more businesses get
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their web sites built to be exposed to
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more customers than they are without the
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Internet
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well a lot of people don't understand is
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sometimes your website is your
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hardest-working employee I actually grew
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up as a child of a self-employed mother
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when I think about the opportunities now
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one of the biggest changes to affect
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business owners I think is the Internet
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what is the difference for your business
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between that it is Instagram basis
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my name is Consuelo Rosales and I have a
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cleaning company feeling the struggles
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that I happened this time it's a
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language in reach more customers
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aikidoka yozma million Segura que me
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meeting professional creo que la web
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science una forma que me pueda i want to
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show my boys that we can have a
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different kind of life
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you know it's the idea like you want to
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want to be in every national story why
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well people around the country I would
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like to leave something for my
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grandchildren I want them to not have to
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struggle like I have had to struggle
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white hole 13 times more wealth than a
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black family but when we compare average
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wealth of a black business owner against
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a white business owner it goes from 13
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times more wealth to only three times
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more wealth I mean just think what that
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does and what that says by giving people
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an opportunity to access credit access
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capital access markets you're able to
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shrink the racial wealth gap that allows
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people to create wealth in their own
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homes and their families what a small
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business owner means to me is autonomy
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being able to make your own way for all
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y'all that I met like I'm so grateful to
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be here like seriously you all have
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inspired me in so many ways and as a
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fellow entrepreneur I know the struggle
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so I just want to say like keep on going
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they're really empowering themselves to
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step into something new for their
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families and for their future it is
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through Drive it is who they are that is
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so inspiring and so contagious and it
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makes me believe that there is hope
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[Music]
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we're seeing folks from house cleaners -
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you know boutique owners using
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entrepreneurship as a way out into
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something new to me made in America is
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bravery its courage its joy its passion
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its possibility its empowerment I'm
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really excited to dive into some of the
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stories that we've heard right here in
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Memphis
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I'm optimistic that at some point in
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this country we'll get things right
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we'll be able to create economic
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opportunities for all you can be a
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successful business owner entrepreneur
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and live the same life maybe a better
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life than some of the images that we see
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on TV something has to change the
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culture I'm really excited to build my
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business really I can do it Oh marketing
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is soaking you stay with me as I cross
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America sharing the stories of
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communities who don't have the same
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access that others do and I'm gonna do
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my best to support them in every way I
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can and I know I'm gonna learn a ton
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along the way to my first stop in
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Memphis we'll be hanging with new mom
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and fashion boutique owner Sequoia she's
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shaking up her business motto and taking
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her fashion boutique mobile I hope you
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join me
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