Black Enterprise - November 2012

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Mobile Gadgets For Business

WEALTH FOR LIFE

VENUS’Sweet Returns

255GreatFranchisingOpportunities

www.blackenterprise.com

The New Vetpreneurs

America’s Military

Thriving In Business

Résumé

Makeover:Adoption:Why Does It Cost So

Much?Get Noticed& Get Hired

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WorldMags.netWorldMags.net

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WEALTH FOR LIFE

54 Junior Achievement CynthiaNevelsteachesherchildrenthe valueofsavingandspendingwisely ByTamaraE.Holmes

57 Escaping the Paycheck to Paycheck Life TalishaWhiteseekstochangebehavior thatwillsabotageher�nancialfuture ByLatoyaM.Smith

POWER PLAYER

60 Managing Safety Aformerspecialagenttransfers hisskillstocorporatesecurity BySoniaAlleyne PERSONAL FINANCE

62 The Real Cost of Adoption It’snotcheaptoadoptachildfroma privateagency.Here'showto�nance thegrowthofyourfamily ByTamaraE.Holmes&SheiresaNgo

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NOVEMBER 2012 • WWW.BLACKENTERPRISE.COM

SEE HOW A FOOD

SCIENCE DEGREE

WAS THE SEED

OF JUDSON TODD

ALLEN'S SUCCESS IN

“BOUNTIFUL CAREERS

IN AGRICULTURE.”

2

Features

CAREERS

68 Bountiful Careers in Agriculture Howfourprofessionalsfoundlucrative opportunitiesinagrowing�eld ByMarciaWadeTalbert

SMALL BUSINESS [PART 1 OF A SERIES]

78 Winning Battles For Vetpreneurs ReturningGIsaccesscapitalandothersupport togrowthrivingbusinessesonthehomefront ByCli�Hocker

FRANCHISING

86 Great Franchise Opportunities for African Americans Anewclassofentrepreneursistakingadvantage ofprogramsforminorities,athletes,andveterans ByCarolynM.Brown&Je�reyMcKinney

42 MOBILE GADGETS FOR BUSINESS

50 RÉSUMÉ MAKEOVER: GET NOTICED AND GET HIRED

78 THE NEW VETPRENEURS: AMERICA'S MILITARY THRIVING IN BUSINESS

86 25 GREAT FRANCHISING OPPORTUNITIES + VENUS' SWEET RETURNS

NOVEMBER 2012 VOL. 43 ISSUE 4

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IBM is helping Manitoba tackle Canada’s 13 million cases

of food poisoning every year by tracking the freshness of meat.

ibm.com/smarterplanet

10.23.2012 16:34 BE3550_1112.pdf


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Columns

WWW.BLACKENTERPRISE.COM • PHOTOGRAPHS BY KEVIN ALLEN (TOP), LONNIE C. MAJOR (BOTTOM) • NOVEMBER 20124

46

30

12 PUBLISHER’S PAGE Let'shonorourtroopswith

thesupporttheydeserve

14 EXECUTIVE MEMO Thevalueofbusiness

partnerships:1+1=3

16 ABOUT THIS ISSUE Smallbusiness:backbone

ofAmerica

23 IN MEMORIAMAndrewBrimmer

CORRECTION: In "Drink to Your Health," Life, October, 2012, the website for

21 Pounds 21 Days: The Martha's Vineyard Diet Detox is www.21pounds21days.com.

40

24 Money YOUR FINANCIAL ADVISER INVESTMENT STRATEGIES 5 tips to make sure

you don’t fall short and outlive your retirement savings

STOCK PICKS Three stocks that may raise

investor optimism and return on investment

CREDIT MANAGEMENT Here’s how to get your credit

report complaints addressed in a timely fashion

35 Small Biz YOUR SMALL BUSINESS EXPERT MAKING IT The ELOCEN Group helps government

agencies stay on schedule and on budget

MANAGEMENT ADVICE Small Business University

grand prize winner puts business lessons to good use

42 Tech YOUR TECHNOLOGY CONSULTANT EXECUTIVE GIFT GUIDE Gifts for those

on the go

46 Work YOUR CAREER COACH THE WORK I DO A seasoned TV

professional focuses on longevity

STRATEGY How to effectively present

your experience and skills to a

prospective employer on your résumé

98 Life YOUR ENTRÉE TO GOOD LIVING CONCIERGE SELECT Basketball legend Walt “Clyde” Frazier

is developing his chops in the restaurant business

EXECUTIVE GIFT GUIDE Suggestions for

connoiseurs, enthusiasts, and eclectic

professionals on your list

104 BACKTALK withRandyJackson

In Every Issue

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In the Nation, safe drivers are rewarded.

Becoming a Nationwide Insurance member is rewarding. Members can add Vanishing

Deductible.® You could get $100 off your deductible for every year of safe driving. It

could even go down to zero. We put members first, because we don’t have shareholders.

Join the Nation where protection is personal.

To Join the Nation today, visit us at JoinTheNation.com or call 1-877-Nationwide.

Products underwritten by Nationwide Mutual Insurance Company and Affiliated Companies, Columbus, Ohio. Not all Nationwide affiliated companies aremutual companies and not all Nationwide members are insured by a mutual company. Vanishing Deductible is an optional feature. Annual credits subjectto eligibility requirements. Max. credit: $500. Details and availability vary by state. Nationwide, the Nationwide framemark, Nationwide is on Your Side, OnYour Side and Join the Nation and design, are service marks of Nationwide Mutual Insurance Company. © 2012 Nationwide Mutual Insurance Company.

®

10.24.2012 15:16 BE3560_1112.pdf


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WWW.BLACKENTERPRISE.COM • NOVEMBER 20126

W i t h C h r i s t m a s

around the corner, get

ideas on what to give

the tech lover in your

life. See more at www.

blackenterprise.com/

holidaygiftideas

Cool JobsStylist to the stars. Digital mastermind.

Artistic genius. C-suite gatekeeper.

They’re not just jobs—they’re brands

with purpose-driven motivation. You

don’t have to be stuck in a career rut.

Be inspired by those who followed their

dreams and make boss moves of your

own. www.blackenterprise.com/cooljobs

How Mexicue’s CFO Keeps Fast Growing Company Rolling [Q&A]

Julia Collins tells BLACK ENTERPRISE how she helped turn

a single NYC food truck into a multimillion-dollar business.

www.blackenterprise.com/mexicueCFO

black enterprise Senior Vice President and

Multimedia Editor-at-Large Alfred Edmond

Jr. will appear in a series of bimonthly videos

where he will guide and inform entrepre-

neurs and aspiring business owners on how

to launch and grow profitable, competitive

companies. Get tools, advice, and resources

to gain the necessary advantage to continue

your journey to entrepreneurial success.

www.blackenterprise.com/sba

Check out the winners of our Small Business University

powered by Dell, grand prize winner Lisa Marie Jackson and

runner-up Kristina Parker, as they discuss how their busi-

nesses have changed since winning the highly contested

competition. www.blackenterprise.com/sbuJACKSON PARKER

CHECK US OUT

EVERY Tuesday for profiles of

out-of-the-box professionals who actually love

what they do to bring home the

bread.

‘Tis the Season

for Giving

sponsored by WELLS FARGO

powered by DELL

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11 DIGITALTOC_006.pgs 10.22.2012 13:54 BLACK YELLOW MAGENTA CYAN


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1.866.MOBILITY | ATT.COM | VISIT A STORE

4G speeds not available everywhere. Talk and surf requires mobile broadband, not available in all areas. Screen images simulated. ©2012 AT&T Intellectual Property. All rights reserved.

The nation’s largest 4G network.

Talk and surf the Web at the same time.

Fairest and most fl exible rate plans.

for their smartphones.

More people choose AT&T

09.26.2012 09:30 BE3513_1012.pdf


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WWW.BLACKENTERPRISE.COM • NOVEMBER 2012 8

BLACK ENTERPRISE takes a look at three

athletes and their journeys into the world

of business after they retired from pro sports.

www.blackenterprise.com/lifeaftersports

Life Pro SportsAfter

An exploration of the entry of hip-hop moguls such as Jay-Z, Ludacris,

and P. Diddy into the spirits industry and how both the liquor companies

and artist brands have benefitted from these unions.

www.blackenterprise.com/hiphopentrepreneurs

HIP-HOP ENTREPRENEURS & the Spirits Industry

Wellnessworkplace

thein

Get into power diva Kela Walker as she shares tips and look books to

upgrade your office fab on a budget. Whether you’re the diva who

wears Prada or the apprentice with limited apparel, the Style Suite has

everything to suit your needs. www.blackenterprise.com/stylesuite

Style Suite

NBA’s Behind-the-scenes

STARS

be explores the connection between good

health and optimum job performance

with our content series

Workplace Wellness.

We go beyond the usual nutrition and exer-

cise tips by covering subjects such as dieting

at work, the trend of fitness networking, and

more. See all the topics at www.blackenter

prise.com/workplacewellness

The NBA is back and black enter-

prise is taking you behind the

scenes to uncover the individu-

als who craft the brands of the

league’s biggest stars.

www.blackenterprise.com/

nbadealmakers

Maverick Carter Rich Paul

TIM BIAKABUTUKA KEYSHAWN JOHNSON JAMAL MASHBURN

Check us out:every Tuesday and Thursday to see the hottest

trends—from corporate chic to boho boss—and

even shop the looks to add to your wardrobe.

step out bold and confident today!

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W E D I D N ’ T S T A R T W I T H L A S T Y E A R ’ S M O D E L : W E S T A R T E D F R O M S C R A T C H . W E B U I L T T H E I N T E R I O R

A R O U N D T H E C U S T O M I Z A B L E , F U L L Y * D I G I T A L D A S H B O A R D A N D T H E 8 . 4 - I N C H T O U C H S C R E E N , A N D W E

S U R R O U N D E D T H E M B O T H W I T H R A C E T R A C K L I G H T I N G . O U R P E R F O R A T E D L E A T H E R S E A T S C O M P L E M E N T

T H E L I N E R S A N D D O O R P A N E L S . T H I S I S N ’ T A P A T C H W O R K O F U P G R A D E S . I T ’ S O N E C A R , D E S I G N E D I N O N E

G O . I T ’ S W H A T H A P P E N S W H E N Y O U D O T H I N G S R I G H T . R I G H T N O W .

W E S W E A T E D T H E S M A L L S T U F F.

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10.22.2012 17:49 BE3540_1112.pdf


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The International

Renaissance Artist

As an artist you need to connect with

local urban art lovers as well as affluent

international collectors, so you have to

make sure everything is on point. From

your facial grooming to your style of

dress. For your street mural unveiling,

nothing says “swag” like a custom

beard paired with a classic denim

jacket, a crisp white soft cotton tee, a

snapback, khaki cargo pant and high-

top vintage sneakers. In the evening,

you are ready for your gallery opening.

Change into a tailored pair of navy blue

dress pants and matching vest, a light

grey wrinkle free button up with the

sleeves rolled up, a pair of tan brogues

shoes and a newsboy cap.

The New Millennium

Ad Man

You need a style that will take you

from day meetings and brainstorming

sessions to entertaining clients and

networking after work. Be ready to

entertain in style with a precision cut

chin strap–goatee combo, a lavender

or gingham checkered button up shirt

worn under a light wool solid color

v-neck sweater paired with fitted brown

trousers. Accessorize the look with

a pair of black leather penny loafers,

a simple black band watch and a

distressed leather satchel. After work,

leave the bag at the office, take off the

sweater and roll up your sleeves for a

more relaxed yet professional look.

The Accomplished

Tech Entrepreneur

You are about to close on a major

round of funding and you need to show

your investors you mean business.

Remember, first impressions are lasting

impressions. Come prepared to close

the deal with a defined full beard, fitted

straight leg dark denim jeans, a classic

v-neck t-shirt, an unstructured 3 button

navy blazer and brown leather oxford

shoes. Your look will convey a laid back

demeanor, but with a business attitude.

Once the deal is done and you’re ready

to celebrate by spending the night out

on the town, neatly roll up your jean cuff

and hang the blazer.

Utilize these simple styling tips and you

will definitely be dressed to impress!

Your style has been defined.

A successful man is not defined by the norms of years past. Today there are

multi-millionaires under 30 embodying the new definition of the “look of

success.” The international renaissance artist, the new millennium ad man and

the accomplished tech entrepreneur are on the quest for the same thing: a look

and a style that exudes confidence and speaks to who they are. The long-lasting,

versatile Braun 3-in-1 cruZer will help you define your style.

Define Your

EXECUTIVE STYLEwith Braun cruZer

Available at

Special Advertisement

08.16.2012 08:40 BE3434_0912.pdf


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Ronnie Abaldonado, 27, B-Boy

cruZerwww.braun.com/cruZer

3-in-1 full size shaver.Goatee, stubble, clean-shaven.

Shave your style.

08.09.2012 16:12 BE3433_0912.pdf


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Let’s Honor Our Troops With the Support They Deserve

I AM A VETERAN OF

THE U.S. ARMY, HAVING

SERVED WITH THE 19TH

SPECIAL FORCES GROUP,

THE GREEN BERETS.

Thousands of veterans of the wars in Iraq and Afghanistan

have either come home, or are on their way, with their loved

ones praying every day that their sons and daughters, hus-

bands and wives, and moms and dads return safely. As they

return, we must honor their sacri�ce in a manner be�tting a

great and sincerely grateful nation.

That must mean more than medals and proclamations,

praise and parades, though our heroes are truly deserving

of such accolades. We must be prepared to marshal our

resources, as individual communities and as a nation, to

do everything we can to bring them and their families to

healthy wholeness. This mission is of critical importance to

both the body and the spirit of America. Indeed, the hope of

our continued economic recovery lies largely with our ability

to e�ectively equip our military heroes to win the peace as

they return to civilian life.

black enterprise has honored and supported military

veterans since the magazine was founded in 1970. For me,

as the founder and chairman of black enterprise, it is and

always will be personal. AȎer joining the ROTC program

at Morgan State University as an undergraduate student, I

entered the Army aȎer graduation in 1957, where I attended

Airborne and Ranger School and completed my career with

the rank of Captain, as a member of the 19th Special Forces

Group, the Green Berets.

The discipline and structure of my military service experi-

ence was key to my development as a leader, as well as to my

success as an entrepreneur. That’s why honoring our military

men and women, and investing in their success once they’ve

completed their service and returned home, will always be

fundamental to the mission of black enterprise. It’s the least

we can do for those who’ve honorably served and sacri�ced

on our behalf, and it’s what’s best for the health and vitality

of our nation.

It is with these sentiments in mind that I invite you to join

black enterprise as we expand our media o�erings and

initiatives aimed at empowering our military veterans, in

particular those returning from Iraq and Afghanistan, to suc-

cessfully transition back to civilian life, and to help them to

prosper as entrepreneurs, professionals, and wealth builders.

NOVEMBER 2012 • WWW.BLACKENTERPRISE.COM • PHOTOGRAPH (TOP LEFT) BY SARAH J. GLOVER12

We will help our veterans build pro�table businesses, using the

training and leadership experiences gained during their military

service. We will show them how to best transfer the discipline

and training of their military experience to successful profes-

sional careers. And, perhaps most importantly, we will provide

the critical money management resources and skills necessary

for them and their families to gain �nancial security.

Simply put, we are committed to the mission of ensuring that

our military men and women and their families achieve Wealth

for Life, black enterprise’s de�nition of the American dream

which they so bravely and honorably risked their lives to defend.

P Publisher’s age

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COLONEL BENJAMIN ALVIN DREWSpace Shuttle Astronaut

U.S. Air Force

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01.06.2012 16:19 BE3114_0212.pdf


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AThe Value of Business Partnerships: 1+1=3

proud entrepreneur hangs out his shingle and launches a new business. He’s smart, energetic, and customer-focused, quickly gaining a rep for top-notch service. Content with just one major client, he learns a brutal math lesson within the first few years of operation. His prime customer shifts accounts to a larger entity, forcing that small business owner to close shop. One minus one equals zero.

I’ve come to witness that tragic scenario play out many times. The cold, hard facts are that too often small business owners tend to subsist with just one product, service, or client. When revenues flow into company coffers, they see no reason to adjust the business model. Limited in size and scope, these doomed micro-companies eventually wind up among the heap of business failures. Over several decades that has been the sad history of many black-owned companies that once dominated targeted segments of hair care, entertainment, advertising, and financial services, among others.

Don’t get me wrong, I’m not here to bash small business. When my father started black enterprise, it was a husband and wife with an office and a vision. Over the course of 42 years, be has championed such ventures, providing them with information and services so they can realize their full potential. We don’t want any African Ameri-can enterprise to be stuck forever operating on the margins of the business mainstream.

To compete and thrive today you must make your business scalable. For corporate America, less is more. Why? Major corpora-tions no longer dole out a series of contracts to a collection of small vendors. For greater efficiency, they have bundled contracts, shrinking their supplier base and mandat-ing that corporate procurement offices identify long-term partners.

For your company to achieve that status, it’s imperative that you embrace the same mindset. By developing the right strategic alliances or joint ventures, your company can, in many cases, increase market share, as well as gain additional financial and

human resources to meet client demands. Keep in mind that the major reason large companies grow while small firms often fail—according to the Small Business Administration, more than 50% in the first five years—is that big businesses have deep pockets and powerful relationships that bring opportunities, contacts, and support. You must realize that partnership has such privileges and adopt the new business math: One plus one equals three.

This is not the first time I’ve advocated such arrangements as a means of growth, especially for black entrepreneurs. Such advice, however, has often been met with resistance. For example, a founder of a black-owned investment bank—one of

the sharpest business minds I’ve ever come across—could not bring himself to merge with another black financial services firm for well over a decade, even though the union would have brought new market opportunities, executive talent, lucrative contracts, and increased profitability.

The reason was simple: ego. Now that company is fighting for its life in an industry in which even the biggest players join forces. Conversely, two

black tech companies merged a few years ago and the result was eventually bought out by a major competitor. Its CEO used the proceeds to start an even larger business.

I’m not saying one should enter into such partnerships lightly. You must establish whether

the collaboration presents a stronger value proposition than your company as a

solo act. For example, will such a partnership provide cost savings through eliminating duplica-

tion of resources? If orchestrated correctly, these partnerships offer

myriad benefits: financial stability, scalability and longevity.

I urge us all to adapt, take calcu-lated risks, and, most importantly,

check our egos at the negotiation table. It’s far better to own 50% of a $50 million

juggernaut than 100% of a $500,000 mom-and-pop. Forging such alliances is a matter of simple arithmetic.

14 @EARLBUTCHGRAVES • PHOTOGRAPH BY LONNIE C. MAJOR • NOVEMBER 2012

“TO COMPETE AND THRIVE TODAY YOU MUST MAKE YOUR

BUSINESS SCALABLE. FOR CORPORATE AMERICA, LESS IS MORE.”

Executive Memo

11 EXEC MEMO-LAYOUT.indd 14 11/7/12 12:48 PM


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This is Vonda Simmons.

She powers the world by building

advanced gas turbines that

are a key part of GE delivering

over a quarter of the world’s energy.

She also empowers children

in her community by mentoring

them in her free time.

She’s just one of the many talented

people that we’re proud to call

one of our own.

GE works.

GE.com/diversity

05.02.2012 11:46 BE3273_0612.pdf


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ASmall Business: Backbone of America

ll of us have heard horror stories about athletes who made

enormous amounts of money during their careers only to

wind up with nothing afer they retire. In fact, recent stud-

ies show roughly 70% of professional athletes will go broke

within a few years of hanging up their

jerseys. So it was refreshing to drink

Jamba Juice smoothies with Grand Slam

tennis pro Venus Williams talking about

franchise ownership. The 32-year-

old Williams signed a joint venture

deal with Emeryville, California-based

Jamba Juice to open five stores in the

Washington, D.C.-Maryland area in

the next two years. She currently has

three locations, including one in the

District’s Union Station. “[Jamba Juice

CEO] James White was very involved

in spearheading the opportunity for me

to do this,” says Williams. “He sat down

with me and talked about the benefits

of being a franchise owner.”

Franchising continues to be a flour-

ishing industry, with more people like

Williams starting businesses with a

trusted brand. In this issue, black

enterprise spotlights franchise edu-

cation and recruitment programs target-

ing athletes, veterans, and minorities. For anyone looking to

purchase a franchise, our “25 Best Bets for African Americans”

lists those franchises with brands and concepts in the hottest

growth sectors with low-to-medium startup costs and a sig-

nificant number of black-owned stores because of diversity

initiatives and incentives.

Our annual small business issue also contains the first of

a two-part series on veterans as entrepreneurs. We feature

federal and statewide programs designed to help GIs return-

ing from the war to transition back into civilian life and to

start their own businesses. In addition, we highlight major

corporations that have special programs dedicated to buying

products and services from veteran-owned small businesses.

Small businesses are the backbone of the American

economy—a sentiment that resonated throughout the presi-

dential elections. As the co-founder of a theater company, I

am among the 27 million-plus small businesses operating in

the U.S. Studies show that starting a business in this country

is easier compared to other regions in the world. But on the

flip side, there is a troubling success rate for small businesses,

with new firms having a 49% chance

of failing within the first five years.

But for vetpreneurs like Vernice

“FlyGirl” Armour, the belief is that

many businesses don’t fail but that

the owners give up. “One compo-

nent veterans bring to the fight is a

breakthrough mentality. Accomplish the mission—failure is

not an option,” says the former U.S. Marines Captain and first

African American female combat pilot.

Innovation, creativity, determination, and perseverance are

just a few of the essential qualities successful small-business

owners demonstrate every day. At black enterprise, we

strive to provide the tools and resources entrepreneurs need

to keep their doors open and to grow their businesses.

—Carolyn M. Brown

16 EDITED BY DEREK T. DINGLE @DTDINGLE • PHOTOGRAPH BY LONNIE C. MAJOR • NOVEMBER 2012

“Small business represents the engine of commercial innovation and employment opportunities. As the state of the economy gives birth to a virtual nation of entre-preneurs, we will all benefit immensely from that transformative development.” —Derek T. Dingle, Editor-In-Chief

WILLIAMS

AND I DISCUSS

SCORING IN

FRANCHISING.

About This Issue

11 ABOUTTHISISSUE.indd 16 10/22/12 1:13 PM

11 ATI_016.pgs 10.22.2012 13:26 BLACK YELLOW MAGENTA CYAN


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10.22.2012 17:49 BE3538_1112.pdf


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PUBLISHING

S.V.P./Editor-In-Chief DerekT.Dingle

S.V.P./Multimedia Editor-At-Large AlfredA.EdmondJr.

Multimedia Editorial Directors Sonia Alleyne, Alan Hughes

Managing Editor Alisa Gumbs

Senior Multimedia Content Producer Carolyn M. Brown

Multimedia Content Producers Sheiresa Ngo, LaToya M. Smith,

Marcia Wade Talbert

Contributing Writers Renita Burns, Shandra Hill Smith, CliƑ Hocker,

Tamara E. Holmes, Frank McCoy, JeƑrey McKinney

Editorial Business Supervisor Arletha Allen

DIGITAL

V.P./Director of Digital ShellyJonesJennings

Digital Media Manager Suncear Scretchen

Audience Development/Marketing Manager Claudio Cabrera

Associate Producer Janell P. Hazelwood

Producers Janel Martinez, Darren L. Sands

BROADCAST

V.P./Broadcast Director GenevieveMichel-Bryan

Host, BEBR & Executive Editor Caroline V. Clarke

Host, Our World with Black Enterprise Marc Lamont Hill

Senior Producer/Correspondent Shannon Antonio Lanier

Syndication Manager Rhonda J. Jackson

Supervising Editor/Producer Kenneth Meeks

CREATIVE

V.P./Creative Director TerenceK.Saulsby

Director of Photography Lonnie C. Major

Senior Designer Todd A. Chapman

Junior Designer Shay L. Chinhengo

COPY

Copy Chief SeimondLondon

Copy Editors Ashley Calloway, Joel Lyons,

Robin White Goode

PRODUCTION

Production Manager Darcel J. Church

EarlG.GravesSr.Chairman & Publisher

EarlG.GravesJr.President & Chief Executive Officer

Printed in the U.S.A.

WHAT IS

THE SIGN

OF A GOOD

DECISION?®

Benef ting from long-termplanning when big changes come on short notice.

Life is wonderful when you have a loving, trusted partner there by your side to share every moment. In their absence, things are never quite the same. But you know they would want you to carry on without them and that they’d have done everything possible to see that through. Carolyn Turner lost her husband, Garlon, in a tragic motorcycle accident. Long before, though, the two of them had been carefully making a plan for her to live comfortably in his absence. A MassMutual f nancial professional was there for the Turners every step of the way, to help ensure her future stability. It may be benef cial to have one there for you, too. To f nd a f nancial

professional, hear Carolyn’s story and

learn more about MassMutual, visit

MassMutual.com/AfricanAmerican

MassMutual Financial Group refers to Massachusetts Mutual Life Insurance Company (MassMutual), its afÀ liated companies and sales representatives. Insurance products are issued by MassMutual, SpringÀ eld, MA 01111, and its subsidiaries, C.M. Life Insurance Company and MML Bay State Life Insurance Company, EnÀ eld, CT 06082. CRN 201306-149176

LIFE INSURANCE + RETIREMENT/401(K) PLAN SERVICES

+ DISABILITY INCOME INSURANCE + LONG TERM CARE

INSURANCE + ANNUITIES

11 MASTHEAD.indd 18 10/23/12 7:44 PM


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10.23.2012 13:36 BE3547_1112.pdf


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MULTIMEDIA SALES

S.V.P./National Director of Multimedia Sales DirkJ.Caldwell

Vice President of Multimedia Sales GraceSpellman-Castro

Vice President of Strategic Sales & Marketing VladimirLeveque

Senior Director of Multimedia Sales Gerard Simmons

Directors of Multimedia Sales Kyle Allman,

Maximillian L. Hamilton

Multimedia Sales Managers Jack Clark,

Anthony K. Mootry,

Nauja Schuckert

Multimedia Sales Account Executive Fabiola D. Roman

Advertising Production Manager Juan Diaz

EVENTS

Senior Director of Events SherryB.Herbert

Events Program Director Alyssa Fant

Events Coordinators Veronica Buapim, Natasha Gore

EXECUTIVE

Executive V.P./COO & CFO JacquesJiha

S.V.P./Finance & MIS AngelaMitchell

V.P./Human Resources & Corporate Operations Director NatalieM.Hibbert

Executive Assistant to President & CEO Yolanda Cook

Executive Assistant to EVP/COO & CFO Kisha Grant-Bodden

Executive Administrator to Multimedia Sales Yvianne Hyacinthe

New York Office 130 FiŽh Avenue, New York, New York 10011 n 212-242-8000 n Fax: 212-886-9618

Chicago Office 625 North Michigan Avenue, Chicago, Illinois 60611 n 312-664-8667 n Fax: 312-988-9770

Pacific South Sales Scean Ellis, Leverage Media Sales n 310-301-2371

Pacific North Sales Suzanne Coppola, Coppola Media Sales n 415-839-9505

Circulation ProCirc, 1450 Broadway, 23rd Floor, New York, NY 10018 n 212-840-2161 n Fax: 212-370-9610

SUBSCRIPTIONSTo subscribe, renew, buy a giȎ subscription, or check your account status,

call 800-727-7777 or log on to www.blackenterprise.com/sub.

Questions about your subscription? E-mail us at

blackenterprise@cdsful�llment.com

DIGITAL EDITIONTo subscribe to Black Enterprise Digital, the electronic version of the

magazine, log on to www.blackenterprise.com/digital.

REPRINTS & PERMISSIONSTo order reprints of any be article, call Wright’s Media at 877-652-5295,

or e-mail [email protected].

To get permission to reproduce an article appearing in be,

call Copyright Clearance Center at 978-750-8400.

BACK ISSUESTo order back issues, call 800-987-6233.

OTHER WAYS TO TAP INTO BLACK ENTERPRISE

11 MASTHEAD.indd 20 10/23/12 4:12 PM


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Having trouble paying for your Merck medicine?Merck may be able to help. www.merck.com/merckhelps

Decreases

Sugar Made

In Liver

Increases

Insulin

For a free 30-day trial supplyb of JANUVIA,visit Januvia.com.

b Not all patients are eligible. Restrictions apply. See Terms and Conditions.

JANUVIA works to lower blood sugar in 2 ways. Talk to your doctor about JANUVIA today.

Today, I took steps to balance my

TYPE 2 DIABETES.

Today, I chose

exercise and

talked to my doctor.

Please read the Medication Guide on the adjacent page for more detailed information.

Copyright © 2012 Merck Sharp & Dohme Corp., a subsidiary of Merck & Co., Inc. All rights reserved. DIAB-1050517-0003 08/12

• JANUVIA is a once-daily prescription pill that helps your body increase the insulin made in your pancreas and decrease the sugar made in your liver.

• Along with diet and exercise, JANUVIA helps lower blood sugar levels in adults with type 2 diabetes.

• By itself, JANUVIA is not likely to cause weight gain or low blood sugar (hypoglycemia).

aFormulary data provided by Pinsonault Associates, LLC, August 2012.

If you take JANUVIA with another medicine that can cause low

blood sugar (hypoglycemia), such as a sulfonylurea or insulin,

your risk of getting low blood sugar is higher. The dose of your

sulfonylurea medicine or insulin may need to be lowered while you

use JANUVIA. Signs and symptoms of low blood sugar may include

headache, drowsiness, weakness, dizziness, confusion, irritability,

hunger, fast heart beat, sweating, and feeling jittery.

Your doctor may do blood tests before and during treatment with

JANUVIA to see how well your kidneys are working. Based on

these results, your doctor may change your dose of JANUVIA. The

most common side effects of JANUVIA are upper respiratory tract

infection, stuffy or runny nose and sore throat, and headache.

You are encouraged to report negative side effects of

prescription drugs to the FDA. Visit www.fda.gov/medwatch,

or call 1-800-FDA-1088.

JANUVIA (jah-NEW-vee-ah) should not be used in patients with

type 1 diabetes or with diabetic ketoacidosis (increased ketones in

the blood or urine). If you have had pancreatitis (infl ammation of the

pancreas), it is not known if you have a higher chance of getting it

while taking JANUVIA.

Selected Risk Information About JANUVIASerious side effects can happen in people who take JANUVIA,

including pancreatitis, which may be severe and lead to death.

Before you start taking JANUVIA, tell your doctor if you’ve ever had

pancreatitis. Stop taking JANUVIA and call your doctor right away if

you have pain in your stomach area (abdomen) that is severe and

will not go away. The pain may be felt going from your abdomen

through to your back. The pain may happen with or without

vomiting. These may be symptoms of pancreatitis.

Do not take JANUVIA if you are allergic to any of its ingredients,

including sitagliptin. Symptoms of serious allergic reactions to

JANUVIA, including rash, hives, and swelling of the face, lips,

tongue, and throat that may cause diffi culty breathing or swallowing,

can occur. If you have any symptoms of a serious allergic reaction,

stop taking JANUVIA and call your doctor right away.

Kidney problems, sometimes requiring dialysis, have been reported.

JANUVIA® (sitagliptin) tablets are widely available on most insurance plans.a

Actor portrayal.

08.21.2012 16:39 BE3446_0912.pdf


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Medication Guide

JANUVIA® (jah-NEW-vee-ah) (sitagliptin) Tablets

Read this Medication Guide carefully before you start taking JANUVIA and each time you get a refill. There may be new information. This information does not take the place of talking with your doctor about your medical condition or your treatment. If you have any questions about JANUVIA, ask your doctor or pharmacist.

What is the most important information I should know about JANUVIA?

Serious side effects can happen in people taking JANUVIA, including inflammation of the pancreas (pancreatitis) which may be severe and lead to death.

Certain medical problems make you more likely to get pancreatitis.

Before you start taking JANUVIA:

Tell your doctor if you have ever had

� s�PANCREATITIS

� s�STONES�IN�YOUR�GALLBLADDER��GALLSTONES

� s�A�HISTORY�OF�ALCOHOLISM

� s�HIGH�BLOOD�TRIGLYCERIDE�LEVELS�

� s�KIDNEY�PROBLEMS

Stop taking JANUVIA and call your doctor right away if you have pain in your stomach area (abdomen) that is severe and will not go away. The pain may be felt going from your abdomen through to your back. The pain may happen with or without vomiting. These may be symptoms of pancreatitis.

What is JANUVIA?

� s��*!.56)!�IS�A�PRESCRIPTION�MEDICINE�USED�ALONG�WITH�DIET�AND�EXERCISE�TO�LOWER�BLOOD�sugar in adults with type 2 diabetes.

� s�*!.56)!�IS�NOT�FOR�PEOPLE�WITH�TYPE��DIABETES��

� s��*!.56)!�IS�NOT�FOR�PEOPLE�WITH�DIABETIC�KETOACIDOSIS��INCREASED�KETONES�IN�YOUR�BLOOD�or urine).

� s��)F�YOU�HAVE�HAD�PANCREATITIS��INmAMMATION�OF�THE�PANCREAS�IN�THE�PAST��IT�IS�NOT�known if you have a higher chance of getting pancreatitis while you take JANUVIA.

� s��)T�IS�NOT�KNOWN�IF�*!.56)!�IS�SAFE�AND�EFFECTIVE�WHEN�USED�IN�CHILDREN�UNDER��YEARS�of age.

Who should not take JANUVIA?

Do not take JANUVIA if:

� s��YOU�ARE�ALLERGIC�TO�ANY�OF�THE�INGREDIENTS�IN�*!.56)!��3EE�THE�END�OF�THIS�-EDICATION�Guide for a complete list of ingredients in JANUVIA.

Symptoms of a serious allergic reaction to JANUVIA may include:

� s�RASH

� s�RAISED�RED�PATCHES�ON�YOUR�SKIN��HIVES

� s��SWELLING�OF�THE�FACE��LIPS��TONGUE��AND�THROAT�THAT�MAY�CAUSE�DIFlCULTY�IN�BREATHING�or swallowing

What should I tell my doctor before taking JANUVIA?

Before you take JANUVIA, tell your doctor if you:

� s�HAVE�OR�HAVE�HAD�INmAMMATION�OF�YOUR�PANCREAS��PANCREATITIS��

� s�HAVE�KIDNEY�PROBLEMS��

� s�HAVE�ANY�OTHER�MEDICAL�CONDITIONS��

� s��ARE�PREGNANT�OR�PLAN�TO�BECOME�PREGNANT��)T�IS�NOT�KNOWN�IF�*!.56)!�WILL�HARM�YOUR�unborn baby. If you are pregnant, talk with your doctor about the best way to control your blood sugar while you are pregnant.

Pregnancy Registry: If you take JANUVIA at any time during your pregnancy, talk with your doctor about how you can join the JANUVIA pregnancy registry. The purpose of this registry is to collect information about the health of you and your baby. You can enroll in THIS�REGISTRY�BY�CALLING��

� s��ARE�BREAST FEEDING�OR�PLAN�TO�BREAST FEED��)T�IS�NOT�KNOWN�IF�*!.56)!�WILL�PASS�INTO�your breast milk. Talk with your doctor about the best way to feed your baby if you are taking JANUVIA.

Tell your doctor about all the medicines you take, including prescription and NON PRESCRIPTION�MEDICINES��VITAMINS��AND�HERBAL�SUPPLEMENTS��

Know the medicines you take. Keep a list of your medicines and show it to your doctor and pharmacist when you get a new medicine.

How should I take JANUVIA?

� s�4AKE�*!.56)!��TIME�EACH�DAY�EXACTLY�AS�YOUR�DOCTOR�TELLS�YOU��

� s�9OU�CAN�TAKE�*!.56)!�WITH�OR�WITHOUT�FOOD�

� s��4AKE�*!.56)!�TABLETS�WHOLE��$O�NOT�SPLIT��CRUSH��OR�CHEW�*!.56)!�TABLETS�BEFORE�swallowing. If you cannot swallow JANUVIA tablets whole tell your doctor.

� s��9OUR�DOCTOR�MAY�DO�BLOOD�TESTS�FROM�TIME�TO�TIME�TO�SEE�HOW�WELL�YOUR�KIDNEYS�ARE�working. Your doctor may change your dose of JANUVIA based on the results of your blood tests.

� s��9OUR�DOCTOR�MAY�TELL�YOU�TO�TAKE�*!.56)!�ALONG�WITH�OTHER�DIABETES�MEDICINES��Low blood sugar can happen more often when JANUVIA is taken with certain other diabetes medicines. See “What are the possible side effects of JANUVIA?”.

� s��)F�YOU�MISS�A�DOSE��TAKE�IT�AS�SOON�AS�YOU�REMEMBER��)F�YOU�DO�NOT�REMEMBER�UNTIL�IT�IS�TIME�FOR�YOUR�NEXT�DOSE��SKIP�THE�MISSED�DOSE�AND�GO�BACK�TO�YOUR�REGULAR�SCHEDULE��$O�NOT�TAKE�TWO�DOSES�OF�*!.56)!�AT�THE�SAME�TIME��

� s��)F�YOU�TAKE�TOO�MUCH�*!.56)!��CALL�YOUR�DOCTOR�OR�LOCAL�0OISON�#ONTROL�#ENTER�RIGHT�away.

� s��7HEN�YOUR�BODY�IS�UNDER�SOME�TYPES�OF�STRESS��SUCH�AS�FEVER��TRAUMA��SUCH�AS�A�CAR�accident), infection or surgery, the amount of diabetes medicine that you need may change. Tell your doctor right away if you have any of these conditions and follow your doctor’s instructions.

� s��#HECK�YOUR�BLOOD�SUGAR�AS�YOUR�DOCTOR�TELLS�YOU�TO��

� s��3TAY�ON�YOUR�PRESCRIBED�DIET�AND�EXERCISE�PROGRAM�WHILE�TAKING�*!.56)!��

� s��4ALK�TO�YOUR�DOCTOR�ABOUT�HOW�TO�PREVENT��RECOGNIZE�AND�MANAGE�LOW�BLOOD�SUGAR�(hypoglycemia), high blood sugar (hyperglycemia), and problems you have because of your diabetes.

� s��9OUR�DOCTOR�WILL�CHECK�YOUR�DIABETES�WITH�REGULAR�BLOOD�TESTS��INCLUDING�YOUR�BLOOD�SUGAR�LEVELS�AND�YOUR�HEMOGLOBIN�!�#�

What are the possible side effects of JANUVIA?

Serious side effects have happened in people taking JANUVIA.

� s��3EE�“What is the most important information I should know about JANUVIA?”.

� s��Low blood sugar (hypoglycemia). If you take JANUVIA with another medicine that can cause low blood sugar, such as a sulfonylurea or insulin, your risk of getting low blood sugar is higher. The dose of your sulfonylurea medicine or insulin may need to be lowered while you use JANUVIA. Signs and symptoms of low blood sugar may include:

� s��HEADACHE� s��IRRITABILITY

� s��DROWSINESS�� s��HUNGER

� s��WEAKNESS�� s��FAST�HEART�BEAT

� s��DIZZINESS�� s��SWEATING

� s��CONFUSION�� s��FEELING�JITTERY

� s��Serious allergic reactions. If you have any symptoms of a serious allergic reaction, stop taking JANUVIA and call your doctor right away. See “Who should not take JANUVIA?”. Your doctor may give you a medicine for your allergic reaction and prescribe a different medicine for your diabetes.

� s��Kidney problems, sometimes requiring dialysis

The most common side effects of JANUVIA include:

� s��UPPER�RESPIRATORY�INFECTION

� s��STUFFY�OR�RUNNY�NOSE�AND�SORE�THROAT

� s��HEADACHE�

JANUVIA may have other side effects, including:

� s��STOMACH�UPSET�AND�DIARRHEA

� s��SWELLING�OF�THE�HANDS�OR�LEGS��WHEN�*!.56)!�IS�USED�WITH�ROSIGLITAZONE��!VANDIA®). 2OSIGLITAZONE�IS�ANOTHER�TYPE�OF�DIABETES�MEDICINE��

These are not all the possible side effects of JANUVIA. For more information, ask your doctor or pharmacist.

Tell your doctor if you have any side effect that bothers you, is unusual or does not go away.

#ALL�YOUR�DOCTOR�FOR�MEDICAL�ADVICE�ABOUT�SIDE�EFFECTS��9OU�MAY�REPORT�SIDE�EFFECTS�TO�&$!�AT�� &$! ��

How should I store JANUVIA?

3TORE�*!.56)!�AT�� &�TO�� &�� #�TO�� #��

Keep JANUVIA and all medicines out of the reach of children.

General information about the use of JANUVIA

Medicines are sometimes prescribed for purposes that are not listed in Medication Guides. $O�NOT�USE�*!.56)!�FOR�A�CONDITION�FOR�WHICH�IT�WAS�NOT�PRESCRIBED��$O�NOT�GIVE�*!.56)!�TO�other people, even if they have the same symptoms you have. It may harm them.

4HIS�-EDICATION�'UIDE�SUMMARIZES�THE�MOST�IMPORTANT�INFORMATION�ABOUT�*!.56)!��)F�you would like to know more information, talk with your doctor. You can ask your doctor or pharmacist for additional information about JANUVIA that is written for health professionals. For more information, go to www.JANUVIA.com�OR�CALL��

What are the ingredients in JANUVIA?

Active ingredient: sitagliptin.

Inactive ingredients: microcrystalline cellulose, anhydrous dibasic calcium phosphate, croscarmellose sodium, magnesium stearate, and sodium stearyl fumarate. The tablet film coating contains the following inactive ingredients: polyvinyl alcohol, polyethylene GLYCOL��TALC��TITANIUM�DIOXIDE��RED�IRON�OXIDE��AND�YELLOW�IRON�OXIDE�

What is type 2 diabetes?

Type 2 diabetes is a condition in which your body does not make enough insulin, and the insulin that your body produces does not work as well as it should. Your body can also MAKE�TOO�MUCH�SUGAR��7HEN�THIS�HAPPENS��SUGAR��GLUCOSE�BUILDS�UP�IN�THE�BLOOD��4HIS�can lead to serious medical problems.

(IGH�BLOOD�SUGAR�CAN�BE�LOWERED�BY�DIET�AND�EXERCISE��AND�BY�CERTAIN�MEDICINES�WHEN�necessary.

Manufactured by:

-ERCK�3HARP��$OHME��)TALIA�3�P�!�

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#OPYRIGHT�©��-ERCK�3HARP��$OHME�#ORP��A�SUBSIDIARY�OF�

Merck & Co., Inc.

All rights reserved

2EVISED��

53-' 4 ��R��

This Medication Guide has been approved by the U.S. Food and

$RUG�!DMINISTRATION�

08.21.2012 16:39 BE3447_0912.pdf


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A

Dean of Black Economists

Dr. Andrew F. Brimmer

s one of America’s most in�uential economists, Dr. Andrew

Brimmer used his acumen and authority to implement monetary

policy and promote �nancial stability as the �rst African Ameri-

can to serve on the Federal Reserve Board of Governors, and to

guide development of countries, cities, and corporations as a

leading economic consultant. Appointed by President Bill Clinton

to head Washington, D.C.’s Financial Control Board in the 1990s,

he was largely responsible for rescuing the nation’s capital from

bankruptcy during a crippling �scal crisis. And throughout his

career he became a catalytic force for black economic develop-

ment and a powerful role model in the �eld. Brimmer died Oct.

7, 2012, at the age of 86.

“He was considered the dean of black economists and a tireless

advocate for black business development and African American

participation in the �nancial markets,” says black enterprise

Chairman and Publisher Earl G. Graves Sr. “Among his greatest

accomplishments has been his mentorship of a generation of

black economists and signi�cantly raising the bar for all who

operate in economics and �nance.” In fact, he advised scores

of powerful business leaders, including be 100s CEOs such as

Graves, who recruited him for be’s �rst Board of Advisors and,

in 1982, as a founding member of be’s Board of Economists. Vital

to the advancement of African American enterprise for more

than a half century, he was bestowed be’s highest honor, the A.G.

Gaston Lifetime Achievement Award, in 2007.

“Andrew Brimmer was a giant,” says Dr. William E. Spriggs,

a former assistant secretary at the U.S. Department of Labor for

the Obama administration. “From his groundbreaking work at

the Department of Commerce to give a �rm foundation to ending

discrimination in interstate travel, to trailblazing [at the Fed,] to

overseeing the restoration of �nancial stability to Washington,

D.C.’s government, his expertise touched so many people and

truly shaped American history.”

The son of a sharecropper, the University of Washington gradu-

ate became a highly respected macroeconomist who studied in

India through the Fulbright Program in 1951, earned his doctorate

from Harvard in 1957, and became an expert on the �nancial sector

and international banking, helping to establish a central bank in

Khartoum, Sudan. As assistant secretary for economic a�airs at the

Department of Commerce, he played a large role in reversing Jim

Crow laws through the development of the economic justi�cation

that led President John F. Kennedy in 1963 to base civil rights legis-

lation on the Interstate Commerce Clause of the Constitution and

not solely the 14th Amendment. When the public accommodations

section of the Civil Rights Act of 1964 was later challenged as being

unconstitutional, the U.S. Supreme Court used the congressional

testimony prepared by Brimmer as the basis for unanimously

upholding the law. His track record led to his historic appointment

to the Fed in 1966 by President Lyndon B. Johnson —a position in

which he demonstrated his prowess for 80 years.

“Andy Brimmer was a trailblazer and a role model for a gen-

eration of African Americans who aspired to be economic policy

makers. Andy’s passing will be mourned deeply,” says Roger W.

Ferguson Jr., president and chief executive o�cer of TIAA-CREF

and former Fed vice chairman.

Friend and protégé Bernard Anderson, professor emeritus at

the Wharton School of Business and former assistant secretary

of the Department of Labor under President Clinton, adds that

Brimmer was a “�ve-star general” in the battle against economic

inequality: “He had a direct impact on the development of

public policy and private actions of individuals, corporations,

and activists in a way that had a bene�cial e�ect on economic

opportunity for black people.”

Brimmer demonstrated unyielding leadership when named

director of Washington, D.C.’s Financial Control Board in 1995

to address poorly performing public services and astronomical

debt under Mayor Marion Barry’s administration. “Dr. Brimmer,

because of his no-nonsense approach, took the brunt of the

opposition,” says former D.C. Mayor Anthony A.Williams, who

worked with Brimmer to tame the city’s �nances during that

period. “The thing that most impressed me was his ability to just

stand up, take charge, and do what needed to be done in a given

situation. He was able to bring a real understanding of �nance

and economics to bear on real human problems here in the city.”

Says Margaret Simms, director of the Low-Income Working

Families Project at the Urban Institute: “He was an outstanding

example that would make people who were narrow-minded

recognize that African Americans are capable of doing many

things within the economics �eld, and for the larger profession

in terms of opening their minds to think about African Americans

in positions of power and in�uence.” —Cliff Hocker

BRIMMER ACCEPTS THE A.G. GASTON

LIFETIME ACHIEVEMENT AWARD.

NOVEMBER 2012 • WWW.BLACKENTERPRISE.COM 23

In Memoriam

11 MEMORIAM.indd 23 10/23/12 6:32 PM


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24 EDITED BY CAROLYN M. BROWN @CMBROWN_7 • PHOTOGRAPH BY CRAIG BROMLEY • NOVEMBER 2012

AS THE BABY BOOMER GENERATION ENTERS THEIR

retirement years, many may �nd themselves unprepared

to meet their �nancial needs. FiȎy-four-year-old Janice

Robinson plans to retire at age 62. She appears to be on

the right track, having faithfully contributed 10% of her

biweekly pay into her 401(k) account since starting her

career with Atlanta-based �berglass manufacturing com-

pany Owen Corning in 1984.

But not unlike many employees, Robinson has applied a

‘set it and forget it’ approach when it comes to her 401(k). “I

couldn’t tell you how much is in there or what I’m invested

in,” she admits. “I’m working hard now to pay o� my

INVESTMENT STRATEGIES

Don’t Run Out of Money

in Retirement5 tips to make sure you don’t fall short and outlive your savings

67% of workers fell behind

schedule when it

comes to planning and

saving for retirement.

The percentage of workers expecting

to retire before age

65 has decreased

from

50% in 1991 to

24% in 2012

SOURCE:

EMPLOYEE BENEFIT

RESEARCH

INSTITUTE AND

MATTHEW

GREENWALD &

ASSOCIATES

11 MONEY.indd 24 10/23/12 6:30 PM


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neverstopneversett le.com

It ’s there. In the back of your head.

On your shoulder. Behind your eyes. Lurking in the corner of the room.

The voice that keeps you up at night. The song you haven’t yet sung.

The story you have yet to tel l . The idea that refuses to die.

And it whispers: never, ever stop. Few hear it . Even fewer chase it .

03.08.2012 14:49 BE3201_0412.pdf


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mortgage so I won’t have that expense aȎer I retire, but I don’t know if what I

saved will be enough.” She adds, “I just know that I’m saving toward retirement

and I thought that would be good enough.”

Robinson exempli�es millions of Americans who put their 401(k) plans on

autopilot. They are saving in an employer-sponsored retirement plan, but have

limited knowledge about how and where their funds are invested. Add to that the

concern that they’ll experience an asset shortfall when the time comes to retire.

According to the Employee Bene�t Research Institute, “early” baby boomers,

meaning people 58 to 64, have a 44% chance of not having enough money to pay

basic retirement costs and uninsured medical expenses. “Late” boomers, ages 48 to

57, and Generation X workers, ages 38 to 47, have about a 45% chance of running

short, the study concluded. Taking the time to set up a good strategy and plan for

your retirement can be your best ally. A lousy plan could destroy your chance of

a decent and secure retirement, notes Clyde Anderson, a �nancial lifestyle coach.

HERE ARE A FEW CALCULATORS

TO HELP YOU FIGURE OUT IF YOU

ARE ON THE RIGHT TRACK.

3. ing.us/individuals/

tools-calculators/retirement

1 Determine your needs. The rule of thumb is that you’ll need about

70% to 80% of your pre-retirement income to live on in retirement,

depending on your lifestyle. Get a snapshot of your current lifestyle or

“bank statement bio.” This means looking at the last 12 months of bank

statements to identify what you currently spend your money on. Next,

separate your spending into categories such as housing, entertainment,

and meals. (Programs such as Mint.com will do this for you.) You will

have to project what expenses you will no longer have come retirement

and which ones will remain the same or increase, notes Anderson.

2 Do the math. While they may di�er for everyone, there are three

areas that are crucial to determining how much money you will need

in retirement:

A: Your current age, current annual income, current take-home pay,

and current monthly expenses. Don’t forget about variable costs such

as recreation, home improvements, and vehicle repairs.

B: Your goals. What age would you like to retire? How much retirement

income would you like to have? Will your current salary be your goal

or will a fraction of that amount su�ce?

C: Your projected life expectancy. Most calculators assume age 90. If you

retire at 65, you may live another 20 or 30 years. Also, take into account

what your projected annual pension (if applicable) and expected Social

Security payments will be.

For example, a 50-year-old earning $80,000 a year and planning to

retire at age 65 will need an estimated $2 million to last them about 30

years in retirement if they plan to live on 70% of their former income.

This is in addition to their expected monthly Social Security bene�t.

AȎer reviewing each of these areas, write down your anticipated

monthly income in retirement that will come from a pension, Social

Security, and 401(k)/IRA withdrawals. If this number is close to your

current take-home pay, you may be in good shape. But if it isn’t you,

have four choices: 1) spend less in retirement; 2) save more money; 3)

push back your retirement timeframe; or 4) earn a higher rate of return

on your investments. You will need to make up the gap between how

much you need to retire and the amount provided by guaranteed sources

of income. Don’t forget to account for in�ation in your calculations.

1. http://apps.finra.org/Inves-

tor_Information/Calcula-

tors/1/RetirementCalc.aspx

2. http://finance.yahoo.com/

calculator/retirement/ret02/

Anderson provides the following tips for Robinson to follow:

11 MONEY.indd 26 10/23/12 3:51 PM


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PLEASE DRINK RESPONSIBLY. Imported Cognac Hennessy® 40% Alc./Vol. 80%. © 2012 Imported by Moët Hennessy USA, Inc., New York, NY. HENNESSY is a registered trademark.

neverstopneversett le.com

It l ives inside my heart.

I fol low it whether it ’s moving wildly through being in love,

recklessly creating a piece of art or making music.

I have to chase it . And I wil l never give up.

To constantly bring something new into this world.

That’s my Wild Rabbit.

— E R Y K A H B A D U

03.08.2012 14:50 BE3203_0412.pdf


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3 Don’t set it and forget it. Be actively involved

when it comes to your retirement account. The asset

allocation that you set when you �rst started work-

ing and began investing will need to be adjusted.

Meaning, you want to diversify your 401(k) by

allocating your investments among di�erent asset

classes, which include stocks (large-cap, small-cap,

growth, international, etc.), bonds, cash, and real

estate investment trusts (REITs). Since di�erent

asset classes react in di�erent ways to changing

market conditions, the right asset allocation mix

according to your risk tolerance and retirement

time horizon can possibly increase your potential

for better returns. For instance, you may have less of

your retirement funds allocated to stocks as you get

closer to retirement age, as the risk of losing money

increases with less time to recoup from losses.

4 Rebalance. There are two general approaches

to when you should rebalance your 401(k)

account. One is to rebalance on a regular time

schedule, such as quarterly, semi-annually, or

annually. The other approach is to rebalance

when the allocation is a certain number of per-

centage points away from its target due to the

difference in performance between funds in

your 401(k) account over time. For example, a

401(k) participant with a 50% stocks, 50% bonds

target allocation might rebalance when stocks are

more than 55% or less than 45% due to changing

market conditions. You need to closely monitor

fund balances in your account for this approach,

comparing ending balances to the target alloca-

tion for each fund. To rebalance means to sell

enough of the funds above your target and buy

enough of the funds that are below your target.

5 Read your statements. “Not looking at your

statement is like throwing money away,” says

Anderson. “These statements contain a lot of

information and plenty of numbers, so it can be

all too easy to just look at the bottom-line �gure

and ignore everything else.” Some key things to

pay attention to are your expense ratio and fees

for each mutual fund in your account. Did you

know that just 1% in fees and expenses reduces

your account balance at retirement by 28%, eating

away at your returns? If you �nd you are paying

more than 1% a year in expense ratios or high

fees, you need to get an explanation from your

401(k) manager, and consider possibly moving

your money to another fund.

—LaToya M. Smith3100 Walnut Grove Road, Suite 603 • P.O. Box 11749 • Memphis, TN 38111-0749

THE

STUTTERINGFOUNDATIONA Nonprofit OrganizationSince 1947—Helping Those Who Stutter

Stuttering Didn’tKeep Him On the Bench.

Chicago Bulls’ legend Bob Love never let

his stuttering keep him out of the game.

Today fans recognize his voice as

an inspirational speaker. Bob Love got

in the game, and so can you.

For more information about stuttering and what

you can do, write, visit our web site, or call:

®

1-800-992-9392

Visit us at

www.stutteringhelp.org

11 MONEY.indd 28 10/24/12 6:24 PM


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Black Enterprise Women of Power Summit

Hosted by STATE FARM®

Claim it,Own it,Live it!

Lives her power

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Don’t miss this unparralleled opportunity to

meet and learn from hundreds of industry

power brokers. This exciting, four-day ex-

ecutive leadership summit is your chance

to focus on you! Learn career strategies

and explore work–life balance strategies.

It’s time to start creating—and living—

the life you really want.

For more information and to Register Today, visit www.blackenterprise.com/wps

Feb. 27-Mar. 2, 2013Waldorf Astoria Orlando Orlando, Florida

Follow us on: @BlackEnterprise #WOMENOFPOWER

Like us on: www.facebook.com/womenofpowersummit

Join our community: beinsider.ning.com

10.23.2012 20:14 BE3557_1112.pdf


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STOCK PICKS

Building, Planting, and Moving AheadThree stocks that may raise investor optimism and return on investment

DANNY FREEMAN

AT DARDA FINANCIAL SERVICES L.L.C., A FEE-BASED WEALTH MANAGEMENT

services �rm in Winston-Salem, North Carolina, founder and CEO Danny Freeman’s stock-

watching philosophy is blunt. The �nancial adviser says that the truism of investing “is the

simple fact that capital will always �ow to where it can earn the highest rate of return at some

acceptable level of risk.” Freeman knows that the impact of Europe’s ongoing �scal melee

and political gridlock in Washington, D.C., have dampened investor optimism. He intends

to reassure skittish investors that there are well-established, �nancially sound �rms that are

growing and some that sport dividend yields. The market is making a grinding escalation,

he says, but one that could continue for the next three to �ve years. With that in mind,

he o�ers the following three stocks he believes are poised for growth during that period.

—Frank McCoy

1 Caterpillar Inc. (CAT) Even from a

distance, many Americans see black

lettering on the sides of big yellow

construction machines and know it spells

CAT. The $60 billion Peoria, Illinois-based

company is the world’s largest maker of

construction and mining equipment and

other heavy machinery. It had strong

growth up until housing collapsed, Euro-

pean markets imploded, and China and

India sputtered. But CAT is now springing

back, Freeman says. In 2011, revenues

grew 41%; much of that growth came from

foreign sales, which are likely to continue.

Earnings per share could grow from $7.40

to $15 by 2015, and CAT has a dividend

yield of about 2.2%. It is an attractive invest-

ment opportunity because it is so deeply

intertwined with the global recovery, says

Freeman. He predicts that several factors

could boost the share price, including

renewed orders from builders benefiting

from a U.S. housing market recovery. In

April, CAT opened its fourth manufacturing

facility in India as South Asia’s giant builds

new roads and other infrastructure. Free-

man says China, which announced a $150

billion infrastructure investment program

in September, will push CAT’s growth as

the country “uses CAT equipment that

helps convert farmland to urban and com-

mercial uses.”

PRICE: $82.81 • P/E: 9.46

2 Agrium Inc. (AGU) The Alberta,

Canada-based firm (whose stock

is sold on the NYSE) is the larg-

est agricultural retailer of fertilizers, crop

chemicals, and seed to U.S. farmers.

In August, Agrium—which also whole-

sales key crop nutrients nitrogen, potash,

and phosphate—posted record second-

quarter sales, beating analysts’ forecasts.

“Basically, anything you need to make

crops grow and keep bugs from eating

them, Agrium can provide,” says Free-

man. That’s crucial, he says, as a decline in

the percentage of arable land worldwide

is forcing farmers to find other means,

typically through the use of fertilizers and

other chemicals, to increase crop yields.

Agrium is positioned to better serve the

demand in emerging markets for grain to

feed cattle and other livestock. The $16

billion company, which has seen its share

price rise from $30 to more than $100

since 2009, is cash flow positive, has low

debt, about a 0.71% dividend yield, and

is projected to grow revenues at 15% or

better over the next three to five years.

Freeman says, “As countries continue to

grapple with feeding their people and

global demand for biofuels continues to

rise, Agrium should continue to exhibit

strong growth and profitability.”

PRICE: $104.02 • P/E: 10.08

3 CSX Corp. (CSX) CSX Corp. is an

international transportation company

offering a variety of rail-based trans-

portation services, including the shipping of

intermodal containers and trailers to major

population centers east of the Mississippi

River. If you have a product that needs to be

moved in large quantities, CSX is likely to be

involved. The transportation supplier helps

transport food, automobiles, gravel, and coal,

among other items. In September, Goldman

Sachs labeled CSX a buy, and investors would

benefit from a cold winter, which would

increase coal shipments for heating. “The

primary reason CSX is so attractive is because

it is a proxy on economic demand,” Freeman

says. The $11 billion Jacksonville, Florida-based

company ships to more than 70 ports and has

more than 21,000 miles of track in 23 states,

the District of Columbia, and two Canadian

provinces. Although rising fuel prices have

hurt CSX’s margins, volumes are recovering

as the U.S. economy regroups. Strong growth

from the automotive industry has helped sales

volume, and Freeman believes investors may

see 12% earnings growth between now and

2015 and improved profit margins. The stock

currently has a 2.46% dividend yield. “This is

a stock that can easily trade 50% higher on

[a] continued moderate recovery of the U.S.

economy,” he says.

PRICE: $21.45 • P/E: 12.07

11 MONEY.indd 30 10/23/12 12:17 PM


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YOU SAY LEFT.

SHE SAYS RIGHT.

WHOOPS, IT’S

STRAIGHT.

Corolla. WITH AVAILABLE NAV.*

Simple directions to get you wherever you need to go. Another reason you can

always count on Corolla. Learn more at toyota.com/corolla

Options shown. *Availability and accuracy of the information provided by the navigation system or any XM services mentioned (if installed) are dependent

upon many factors. Use common sense when relying on information provided. Services not available in every city or roadway. Periodic navigation updates

available at additional cost. See your Navigation System Owner’s Manual or contact XM for details. ©2012 Toyota Motor Sales, U.S.A., Inc.

09.24.2012 09:43 BE3497_1012.pdf


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WWW.BLACKENTERPRISE.COM • PHOTOGRAPH BY KEVIN ALLEN • NOVEMBER 201232

IF YOU FIND A MISTAKE ON YOUR CREDIT REPORT,

a letter disputing the error should be your �rst course of

action. Your credit report a�ects most areas of your life.

It’s reviewed by lenders, landlords, utility and insurance

companies, and sometimes even evaluated by employers

considering you for a job. Roughly 80% of reports contain

errors—and 25% are serious enough to cause a denial of

credit, according to a survey of 197 credit reports by the

U.S. Public Interest Research Group. It’s important for

your dispute letter to contain the right information so

your complaint can be addressed properly. Here are �ve

keys to an e�ective credit report dispute letter:

Know what to include in your letter.

Keep it simple and direct, advises Gerri Detweiler, director of

consumer education for Credit.com. Stick to the basics such as

identifying information (name, address, last four digits of your

Social Security number, etc.) and “a credit report reference num-

ber, which should be included in the copy of the credit report you

received from the credit reporting agency.”

Ulzheimer also recommends that you “clearly identify the item

you disagree with, why you disagree, and what you would like

to have happen.” And, he adds, send supporting documentation

as needed.

It’s also smart to make a copy of the letter aȎer you’ve signed

it and keep all original copies of supporting documentation, says

Sonya Smith-Valentine, who fought personal credit reporting

issues in 2009 and 2010.

The Largo, Maryland, resident says she wrote letters to Equi-

fax, Experian, and TransUnion—the three major credit reporting

agencies—about two matters. She says one creditor mistakenly

reported her 30 days late on a payment, and a collection agency

tried to collect on charges for a gym membership that didn’t belong

to her. There was a gym customer with Smith-Valentine’s �rst and

maiden names who also lived at an address that was similar to a

previous New York address for the 43-year-old attorney.

In addition to writing letters to each of the bureaus, Smith-

Valentine—CEO and founder of Financially Fierce L.L.C., a

consumer personal �nance education company—wrote a letter

to the gym. She provided a copy of her letter, as well as the gym’s

response, to the credit reporting companies.

Smith-Valentine says the process with the credit card company

involved more steps: initially calling the company to report the

error, writing a letter to the o�ce of the president of the card com-

pany when the error wasn’t removed as promised, and writing

the credit reporting agencies once she received a response from

the president’s o�ce. She was able to share that letter with the

bureaus, along with a new written appeal asking for the correction.

3

Know what you can dispute.

You have the right to dispute anything in the trade sec-

tion, such as information regarding credit cards, student

loans, auto and personal loans, and items in the sections

for collections and public records. You may also challenge

fraudulent credit inquiries and “anything that’s not correct

or that’s outdated and only allowed to stay on your credit

report for a certain period of time, such as bankruptcy,”

says John Ulzheimer, president of consumer education

at SmartCredit.com, a credit education website.

You can’t, however, dispute negative information if it is

indeed correct and if it is still within the statute of limitations

for reporting. For example, a Chapter 7 bankruptcy will

stay on your report for 10 years; a foreclosure, for seven.

1

Consolidate disputes.

To avoid lengthening the response time, consolidate all

disputes in one letter; don’t send a letter for each issue.

Also, send the letter via certi�ed mail, with a return

receipt requested.

2

1

CREDIT MANAGEMENT

5 Keys to an Effective Credit ReportDispute LetterHere’s how to get your complaints

addressed in a timely fashion

SMITH-VALENTINE

USED THE POWER

OF THE PEN TO

CORRECT CREDIT

REPORT ERRORS.

11 MONEY.indd 32 10/23/12 12:17 PM


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Stick to the facts.

“Don’t write an angry, rambling letter,” says Smith-Valentine. You’re likely

to get a better response if you write a polite letter that states the facts clearly.

While Smith-Valentine says it took approximately four months for the credit

card issue to be resolved and about three months to �x the gym error, you

should expect inaccurate or incomplete information or information that can’t

be veri�ed to be removed or corrected usually within 30 days, as required

by the Fair Credit Reporting Act.

Take a two-pronged approach. File disputes with each of the major

nationwide credit reporting agencies. As a

second step, also submit disputes directly

to the creditor or collection agency. “Dis-

puting it directly with the source might

be faster since they’re required to share

corrections with any credit reporting

agency to which they have reported the

mistake,” says Detweiler.

—Shandra Hill Smith

4 5


DateYour NameYour AddressYour City, State, Zip Code

Complaint DepartmentName of Credit BureauAddressCity, State, Zip Code

Dear Sir or Madam:

I am writing to dispute the following information in my file. The

items I dispute also are encircled on the attached copy of the

report I received.

This item (identify item(s) disputed by name of source, such

as creditors or tax court, and identify type of item, such as

credit account, judgment, etc.) is (inaccurate or incomplete)

because (describe what is inaccurate or incomplete and why).

I am requesting that the item be deleted (or request another

specific change) to correct the information.Enclosed are copies of (use this sentence if applicable and

describe any enclosed documentation, such as payment

records, court documents) supporting my position. Please

reinvestigate this (these) matter(s) and (delete or correct) the

disputed item(s) as soon as possible.Sincerely,

Your name

Enclosures: (List what you are enclosing)

1

2 I dispute also are encircled

(3

4

Do’s and Don’ts of

Writing a Credit Report

Dispute Letter

Do avoid online dispute resolution.

Your dispute may end up being processed

through a computer system with no

human intervention, says Ulzheimer of

SmartCredit.com.

Do keep it short and to the point. “Keep in mind the person who reviews

your letter is going to spend very little time

reading it and will be primarily trying to

enter your dispute into a computer,” says

Credit.com’s Detweiler. For help crafting

your request, you’ll find a sample credit

report dispute letter at Credit.com (www.

credit.com/blog/2012/05/how-to-write-

an-effective-credit-report-dispute).

Do make copies. Make a copy of the letter after you’ve

signed it and send the original, signed let-

ter certified mail, return receipt requested.

Be sure to send only copies of any sup-

porting documentation, however.

Don’t let it go.

In the rare instance that you don’t get a

response, Detweiler suggests filing a com-

plaint with the Federal Trade Commission,

Consumer Financial Protection Bureau,

and your local Better Business Bureau,

being sure to copy the credit reporting

agency. Another option is to consult a

consumer protection attorney through

the National Association of Consumer

Advocates.

Get more Money at www.blackenterprise.com/money

11 MONEY.indd 33 10/23/12 12:17 PM


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Go to business.comcast.com or Call 800.501.6000

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10.23.2012 13:34 BE3542_1112.pdf


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NOVEMBER 2012 • PHOTOGRAPH BY KEVIN ALLEN • EDITED BY CAROLYN M. BROWN @CMBROWN_7

NECOLE PARKER SPENT NEARLY TWO DECADES DESIGNING

a reputation built upon innovation as a senior project manager at top

Washington, D.C., metro area construction and design firms. But it

was her vision of a life of entrepreneurship that led her to start The

ELOCEN Group, a program and project management firm for state,

local, and federal government agencies and the commercial sector.

35

Construction management is a

$6 billion-plusindustrySOURCE: IBISWORLD

Government procurement with black firms reached a total

$7.12 billionin 2011. SOURCE: THE WASHINGTON POST

MAKING IT

Coordinating

SuccessThe ELOCEN Group helps government agencies

stay on schedule and on budget

The ELOCEN Group

Founder: Necole Parker, Principal & CEOLocation: Washington, D.C.Employees: 32 Founded: 2006What it does: Program and project manage-ment firm for state, local, and federal govern-ment, as well as the commercial sector2009 Revenues: $250,000 2010 Revenues: $9.7 million2011 Revenues: $5 million2012 Projections: $6 millionHow she made it: Parker’s company became certified as a woman-owned business and as an SBA 8(a) firm allowing it to land more lucrative federal contracts.

11 SMALL BIZ.indd 35 10/22/12 1:24 PM

11 SMALL BIZ_035.pgs 10.22.2012 13:29 BLACK YELLOW MAGENTA CYAN


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5WWW.BLACKENTERPRISE.COM • NOVEMBER 201236

Launched in 2006, The ELOCEN Group provides services that range from real estate support, construction management, and interior design to information technology, and facilities and logistics support. “We’re called the ‘tenant rep’ on behalf of the government,” says Parker. “We manage all of the trades on the interior side from start to finish.” In short, her team leverages its knowledge of construction, IT, design, and management to ensure contractors remain on schedule and within budget.

The 42-year-old entrepreneur says the company generated revenues of $5 million in 2011 and expects to generate nearly $6 million this year. She further estimates that figure will rise more than 60% to $10 million in 2013 as the company ventures further into the commercial sector and the Southeast region. Contracts typically range from $20,000 to $7 million. Current clients include the General Services Administration and the Department of Defense, and a deal recently closed with the Army’s Real Estate and Facilities program is valued at more than $350,000.

Parker’s beginnings were born of resilience, perseverance, and sacrifice. The single mother of one son was living with her parents when she set up shop in their basement. She spent much of her time between 2006 and 2009 laying the groundwork for the company, establishing a business structure, gaining certifications, and building a client base. “I was able to pick up my initial business with repeat clients I had done business with in the past [work-ing at] other companies,” says Parker.

According to USASpending.gov, which was launched by the U.S. Office of Management and Budget to allow the public to view federal awards, there were $536.7 billion in federal contracts awarded in fiscal year 2011. Around 17% of that money, or $91.5 billion, was awarded to small businesses, according to the Small Business Administration. Government procurement for black-owned firms totaled $7.12 billion in 2011, dropping 8% from fiscal year 2010.

Parker’s transition into entrepreneurship was calculated, as she decided to work part time rather than give up full-time employment during that period in an effort to gain the flexibility needed to focus on building the business while still bringing in a steady income. “[My employer] knew I started my company and we had an agreement I would not take existing business from them,” says Parker. “But if a new contract came up, I could compete.”

She applied for and was granted certifications as a woman-owned busi-ness and as a socially and economically disadvantaged business under the SBA’s nine-year 8(a) Business Development Program. The 8(a) program helps designated firms develop and grow their businesses through one-on-one coun-seling, training workshops, management guidance, and technical assistance.

For Parker, 8(a) certification—paired with her experience—was crucial in getting her business off the ground. But the process wasn’t without a hitch. Her certification was initially rejected. The reviewer noted that Parker was missing documentation, a claim Parker vehemently denies. She immediately jumped into action, spending that weekend re-sorting her application and research-ing the chain of command, which eventually led her to one of the SBA’s main branches in Philadelphia. Parker resubmitted her application, going up the chain of command to ensure it was properly reviewed the second go-round.

“Once I received my certifications, I was able to market the company more,” says Parker, who was then able to quit her day job. 2010 was a landmark year as revenues jumped to $9.7 million, spurred by a one-time product order valued at $6 million and a contract with the U.S. Army Corps of Engineers valued at $3.5 million.

Expansion into the Atlanta region is already under way, as ELOCEN has inked deals with the Internal Revenue Service for project management and interior design, and with the Georgia Minority Supplier Development Council to provide relocation planning services. —Renita Burns

Register with the System for Award Man-agement (SAM). To do business with the government, register your company in the SAM database (www.sam.gov). There are several ways to be certified. If you want to access the 8(a) application online, visit www.sba.gov/8abd.

5 Tips to Successfully Gain

8(a) CertificationObtaining certification can be a rigorous and daunting process, though not impossible. The ELOCEN Group’s Necole Parker learned this when she had to apply for 8(a) certification a second time. For Parker and other entre-preneurs, the potential benefits far outweigh the challenges, as 8(a) designation helps minority-owned businesses gain access to government contracting opportunities. Here are five tips for successfully navigating the 8(a) certification process:

Get financial documents in order. To complete the application you will need your federal tax returns, balance sheets, and profit and loss statements from the past three years, among other documents. You can find the entire list within the 8(a) application.

Seek wise counsel. Parker did not go through the 8(a) certification process alone. She worked with a trusted consultant who reviewed her application packet. There are companies that can assist you in getting 8(a) certified. Just be leery of companies that claim to be able to expedite or guarantee certifica-tion, as there is no shortcut. Contact your local SBA district office to learn more about programs or companies offering assistance.

Establish a relationship with your local SBA. If you don’t already have a strong relationship with your local SBA district office, now is the time to start building one. While it cannot fast-track your application, your local SBA branch can provide much-needed advice and direction throughout the application process.

Follow through on your application. After Parker’s initial 8(a) application was rejected, she gathered her paperwork and turned to her local SBA branch to find out who was next in command. Parker was certain she had included all the required paperwork for certi-fication. Going directly to someone ensured Parker’s resubmitted application was properly reviewed the second time around.

12

3

4For more on the SBA’s 8(a) program, see Web Extras at

www.blackenterprise.com/magazine.

11 SMALL BIZ.indd 36 11/6/12 4:35 PM


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From TheBoardroom

Red CarpetTo The

Like us

facebook.com/

BlackEnterpriseBusinessReport

Follow us

@blackenterprise #bebr

Join us weekly for a who’s who in black business andthe latest tips onwealth building and sound career advice.

Watch usNow Available In More Markets

Airing Sundays at 10:30 AM est on

Check blackenterprise.com/bebr

for your local listings

Hosted by

Caroline

Clarke

10.24.2012 13:34 BE3559_1112.pdf


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MANAGEMENT ADVICE

Black Enterprise Small Business University Grand Prize WinnerLisa Marie Jackson puts business lessons to good use

LISA MARIE “PHOENIX” JACKSON

draws daily on the inspiration of her mother,

who passed away in 2007, and the advice

she received to follow her dreams at any cost.

Afer holding jobs in sales, customer service,

and accounting at companies such as Sprint,

Jackson decided to give up the stability of

a steady paycheck in 2011 to become an

entrepreneur at the ripe young age of 26.

“I had created so much for other cor-

porations, I thought why not do it for

myself?” says Jackson, now 27. The Brook-

lyn, New York, native had developed a

knack for building online relationships

and helping her employers connect with

customers using sites such as Facebook,

Twitter, and LinkedIn. So she created a

business plan to launch her social media

consulting firm, Phoenix Aficionado

(www.phoenixaficionado.com).

Jackson used personal savings of $2,500 to

cover startup costs for Web design, photogra-

phy, marketing sofware, an iPhone, a tablet,

and a professional camera. She also bartered

with local entrepreneurs. “I met with graphic

designers that were like, ‘If you help me set

up my Facebook and Twitter page, I’ll help

you with illustrations,’” she recalls.

Jackson started out with two clients found

through word-of-mouth. “I humbled myself

to work for them at no cost on a term basis so

that I could develop my portfolio,” she says.

The risk was worth it, as these two compa-

nies later became paid clients. Her third

client, bow-tie maker Modern Day Mogul

(www.moderndaymogul.com), came on at a

reduced rate; Jackson now oversees its social

media marketing, online advertising, and

media partnerships. Jackson also turned to

resources such as Mashable.com, LinkedIn

groups, Craigslist, and multiple freelance

sites to find short-term contracts doing blog

content development, social media, and

customer relationship management.

When Jackson enrolled in the black

enterprise Small Business University (SBU)

powered by Dell Inc., she was looking for

practical strategies she could put into play

immediately. The eight-week program of

online video courses (www.blackenterprise.

com/sbu) provided original tutorials featur-

ing a team of rotating business, marketing,

and technology experts. Among SBUs all-

stars were author and SmallBizLady Melinda

Emerson; Buzz Marketing Group Founder

and CEO Tina Wells; Young Entrepreneur

Council Founder Scott Gerber; The Money

Coach and personal finance author Lynnette

Khalfani-Cox; SocialPeople.tv Founder

James Andrews; digital lifestyle guru Mario

Armstrong; and technology expert Mel

Parker, vice president and general manager

of Dell consumer, small office, and member

loyalty in North America.

“Sometimes people are intimidated by the

word ‘university’ because they think there’s

going to be a massive time commitment,”

Jackson says. But the couple of hours a day

that she spent watching the videos and

applying the advice were well worth the

effort. And she was chosen out of nearly

10,000 SBU registrants as the grand prize

winner of a package that includes a $10,000

Dell office setup. Launched in January 2012,

Phoenix Aficionado has six ongoing clients

at the time of this writing, and Jackson’s

business is in the black—averaging $3,000

to $4,000 in monthly income. She’s in the

process of hiring a part-time assistant to help

her manage her blog and assist with social

media. “Small Business University gave me

confidence in growing my business that I

didn’t have before,” she says.

—Tamara E. Holmes

11 SMALL BIZ.indd 38 10/22/12 1:25 PM



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Like us

facebook.com/OurWorldWithBlackEnterprise

Follow us

@blackenterprise #ourworld

Bringing exclusive interviews, trending topics, and

community champions to a city near you ...

Now Available In More Markets

Airing Sundays at 10:00 AM on

Check blackenterprise.com/ourworld

for your local listings

NEW SEASON!

10.23.2012 20:14 BE3555_1112.pdf


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CAROLYN M. BROWN’S TIP OF THE MONTH

Small business owners searching for help on SBA.gov will find a free business intel-

ligence tool to “size up” their businesses against the competition at www.sba.gov/sizeup.

SBA’s new Web tool helps business owners conduct location-based market research and

analysis, which is critical to the success of any small business owner or entrepreneur, notes

SBA Administrator Karen G. Mills. The tool is also designed to help businesses identify

new customers and compare their performance against other businesses in their industry.

Using SizeUp, it is as simple as the click of a mouse for entrepreneurs to access highly

specific data on every industry and geographic region—including revenues, salaries,

healthcare costs, supplier locations, best places to advertise, and more. The new tool is

part of SBA’s Office of Entrepreneurial Development initiatives.

contact carolyn m. brown at [email protected] or @cmbrown_7.

Size Up Your Business

SBU was designed to assist entrepreneurs in various stages of business develop-

ment, including part-time entrepreneurs, startups, and established enterprises.

Here are some lessons that SBU grand prize winner Lisa Marie “Phoenix” Jackson

says have made a difference in her business:

The wisdom of balancing business with life. When Jackson started her

business, she worked around the clock, sometimes forgetting to eat. An SBU

session emphasized the importance of scheduling time off rather than leaving it

to chance. In doing so Jackson found that her productivity increased. “I started

spending time with loved ones, and realized that my business will still thrive as

long as I’m giving 110% and it doesn’t mean that I need to work 24 hours,” she says.

The importance of outside help. Like most entrepreneurs, Jackson wore a

variety of hats from blogger to marketer to accountant. “It’s a trust issue,” she

admits. Hiring someone would “give them access to my baby.” But one lesson

drilled into her through SBU was the importance of hiring others so she could

focus on aspects of her business that are the most profitable. She took the

advice to heart and now she’s interviewing assistants to work with her part

time to help with blog content, clerical duties, and social media maintenance

while she works on the social media campaigns, which are bringing in the bulk

of company revenues.

The virtues of creating a system. “I had a great business plan, but I didn’t have

a day-to-day plan,” she says. As a result, sometimes things would fall through

the cracks. For example, she’d spend massive amounts of time on her clients’

social media campaigns while letting her own social media accounts lapse for

days. Through SBU, she learned that a system would not only help her organize

her workload, but it would make it easier for her to communicate her business’s

priorities to others. —T.H.

Making The Grade

Which courses scored the highest

marks among SBU classmates?

1. Getting Started

Your Small Business Checklist

2. Getting Started

Establishing Your Brand

3. Getting Started

Communicating Your Message,

Knowing Your Vision

4. Financing and Investing

How to Raise Capital for Your

Business

5. Technology

Tools to Get You to the Next Level

SOURCE: BE DIGITAL

To learn more about the Small Business University, see www.blackenterprise.com/sbu.

TOP 5 Lessons:

SBU

Get more Small Biz at www.blackenterprise.com/smallbiz

11 SMALL BIZ.indd 40 10/22/12 1:25 PM



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The national unemployment rate finally budged

downward to slightly below 8 percent in September

2012, but it still remains volatile, and for African-

Americans, the jobless rate remained an astounding

14.1 percent through August 2012*.

Is there a silver lining in the sluggish job market for those who are

unemployed, graduating from college or looking to make a career

change? There just might be: financial services.

The Bureau of Labor Statistics** predicts strong growth in finance

and insurance jobs, projecting a 9 percent increase between 2010 and

2020. And there are many aspects of the career that are attractive,

including an opportunity to be your own boss, earn a solid income

and to provide a needed and valued service.

Think about a career switch

Jamar Bates began his road to a financial services career after years

in the real estate market, when that industry began to collapse in late

2008. After two years abroad in the Middle East on a temporary

assignment as a senior employee relations manager for a Fortune

500 architectural, engineering and construction firm, Mr. Bates

began his career with the Atlanta Agency of Massachusetts Mutual

Life Insurance Company (MassMutual) in May 2011. He says he

was attracted to the opportunity to “vertically integrate myself and

leverage my relationships built over the past 20 years in the Metro

Atlanta Area” while also learning how to protect and plan financially

for his and his wife’s retirement years.

After research, Mr. Bates aligned with MassMutual, saying he paid

“close attention to the company’s financial strength,” as well as its

mutual structure and the fact that it has been in business for over 160

years for its policyholders, clients and financial professionals.

Help yourself and help other people

In addition to providing the opportunity to prepare for his own and

his wife’s financial future, Mr. Bates also is attracted to his ability to

make a difference in others’ lives that a career in financial services

provides. “On a larger scale, it provides me with the opportunity

to make this my ‘magnum opus’ and become a part of the lives of

my friends, acquaintances, families, communities and all who would

listen and show them how to build and pass on generational wealth,

which is not as prevalent in the African-American community,” he

explained.

Ryan Marsh, sales manager at HF Financial, a MassMutual

general agency in Charlotte, N.C. says, “The financial services career

provides motivated individuals from all walks of life an opportunity

to run their own business and earn unlimited income, while helping

other people at the same time.” Mr. Marsh currently manages a team

of 21 financial professionals and is always looking to add more, “if

the right opportunity, or candidate, presents itself.”

To learn more about the financial services career, who is working in the field and why,

logon to massmutualcareers.com, or contact Mr. Bates at 404-521-0001 in Atlanta, Mr.

Clemons at 702-791-0200, Ext. 326 in Las Vegas, or Mr. Marsh at 800-289-1846, Ext. 671

in Charlotte. For more information about MassMutual's African American program call

Nicole Bremser at 413-744-5678.

*Bureau of Labor Statistics, U.S. Department of Labor. “The Employment Situation – September 2012.” Oct. 4, 2012.**Employment Projections: Occupational employment and job openings data and worker characteristics, U.S. Bureau of Labor Statistics, U.S. Department of Labor, December 9, 2010.+Financial Services Professionals are independent contractors and are not employees of MassMutual, its subsidiaries, or of General Agents with whom they contract.

S P E C I A L A D V E R T I S M E N T

Do you have what it takes?

Financial Services companies are seeking applicants for financial professional

positions from a multitude of professions. What really matters is not so much what

someone’s background or college degree is, but that the individuals possess certain

personality traits that may be common drivers of success. “We commonly see several

of the same attributes in our most successful representatives,” said Nicole Bremser,

director of Multicultural Market Development with MassMutual.

Bremser lists the following as highly sought after

personality traits for financial professionals:

A commitment to lifelong learning: Do you have a desire to improve through

ongoing coaching, mentoring and education?

A desire to help people: Do you have a strong belief in the importance of helping

others prepare financially for the future and to help clients realize their most

important life goals?

Well developed business and social network: Do you have a network of contacts

from previous careers or social involvement that can provide new opportunities?

Entrepreneurial spirit: Do you have a strong desire to own your own business

and a willingness to invest three to four years to build your practice?

Disciplined self-management: Are you self-motivated to reach personal and

professional goals?

In seeking out candidates who fit the profile above, MassMutual attempts to ensure

that the financial professional role is a proper fit for the applicant, the company

and the local office where he or she is interviewing. “A rigorous interviewing

process, including personality assessments, structured interviews and meetings

with numerous local office financial professionals, helps ensure a proper fit for the

position,” explained Bremser.

All who are interested, please DO apply+

“The power of preparing for individuals’ financial future can change the economic

state of a community. You can create your own future by having a path and the discipline

to stick to it,” said Jeff Clemons, general agent of MassMutual’s Nevada Agency in Las

Vegas. “If you want to be out in front helping people make smart financial decisions

and helping raise the economic wellbeing of your communities, one client at a time,

you should definitely look into a career in Financial Services,” he concluded.

Jamar BatesManaging Associate

with the Atlanta Agency of MassMutual.

Ryan Marsh Sales Manager at HF

Financial, a MassMutual general agency in

Charlotte, N.C.

Nicole BremserDirector of Multicultural

Market Development with MassMutual

Jeff Clemons General Agent of

MassMutual’s Nevada Agency in Las Vegas

n

n

n

n

n

10.23.2012 18:42 BE3531_1112.pdf


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Need to record podcast-quality audio while on the

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Although it’s possible to “scan” documents with a smart-

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Bluetooth headsets don’t suit everyone. This small, light speaker

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EXECUTIVE GIFT GUIDE

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—K.T. Bradford

11 TECH.indd 42 10/22/12 3:41 PM


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And with the available

Entune®3 Multimedia System,

including apps like Pandora,

I can discover bands as

opposed to bandwagons.

The estimated 50 MPG1

Toyota Prius hybrid.

Named a Best Overall Value2

of the year for the last

10 years in a row.

The Toyota Prius. Those who get it … get it.

Get it for yourself at a dealer near you or visit toyota.com/prius to learn more.Options shown. 1 2012 EPA estimates 51/city, 48/hwy, 50/comb. Actual mileage will vary. 22012 IntelliChoice, www.IntelliChoice.com 3Always drive safely, obey traffi c laws & focus on the road while driving. Apps/services vary by phone/carrier; functionality depends on many factors. Select apps use large amounts of data; you are responsible for charges. Not all apps/services are available initially and subject to change. Apps identifi ed by ™ or ® are trademarks or registered trademarks of their respective companies. For enrollment, cost and more details, see Toyota.com/entune®. ©2012 Toyota Motor Sales, U.S.A., Inc.

“The way I see it, conformity erodes the soul.”

Raphael Saadiq

Toyota Prius

10.22.2012 17:45 BE3532_1112.pdf


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WWW.BLACKENTERPRISE.COM • NOVEMBER 201244 WWW.BLACKENTERPRISE.COM • NOVEMBER 201244

Those who are looking for a phone

designed to integrate seamlessly with

Windows and, more importantly, Micro-

soȎ O�ce, will appreciate the charms of

the Windows Phone 8X from HTC. The

4.3-inch display is beautiful, and the

dual-core CPU keeps graphics smooth.

It’s available in several eye-popping

colors. Price TBA; Available on AT&T,

T-Mobile, and Verizon Wireless.

The ThinkPad X1 Carbon o�ers a good balance

between portability and power. The carbon

�ber case and solid-state drive storage mean

it’s tough and durable, yet it remains light at

just under 3 pounds. The speedy SSD com-

bined with Intel’s Core i5 and i7 processors

means powerful performance. Plus you’ll

get a battery that lasts more than eight hours.

Prices start at $1,329; www.lenovo.com/us/en

For those who love navigating a tablet out in

the �eld, and want to transfer that experience

to a larger display in the o�ce, a touch-screen

monitor can increase productivity, especially

if it’s compatible with Windows 8. Dell’s

23-inch S2340T features up to 10 multi-touch

points, a �at screen, and a stand that users can

position at almost any angle, including �at.

Prices start at $699.99; www.dell.com.

Entrusting your documents, backup,

and media to third-party cloud stor-

age services such as Dropbox can be

convenient, but it makes some pro-

fessionals nervous. Get the advan-

tage of cloud storage that you control

with the Canvio. It connects to your

own wireless router and can sync and

share just like Dropbox but without the

monthly fee. $219 (2TB), $249 (3TB);

www.us.toshiba.com

Barnes & Noble’s new 9-inch Android tablet

is the perfect size and weight for reading

digital magazines and newspapers. Nook

Newsstand offers access to hundreds of

periodicals. Use the new Scrapbook feature

to “tear” out pages and save them in person-

alized collections to make research or saving

topic-speci�c stories easier than ever. $269

(16GB), $299 (32GB); www.nook.com

Mobility requires flexibility, and the Flex

o�ers both. This Bluetooth keyboard works

with the iPad and iPhone, Android tablets,

and many other smartphones. Now you’ll get

OS-speci�c shortcut keys with one keyboard.

The Zagg Keys Flex is lightweight and comes

with a case that doubles as a tablet stand. At

4.9 inches long and 4.8 inches wide, it won’t

add bulk to your bag. $69.99; www.zagg.com

SMARTPHONE: HTC

WINDOWS PHONE 8X

ULTRABOOK: LENOVO THINKPAD

X1 CARBON

MONITOR: DELL S2340T

TOUCH-SCREEN MONITOR

CLOUD STORAGE: TOSHIBA

CANVIO PERSONAL CLOUDTABLET: NOOK HD+

TABLET ACCESSORY:

ZAGGKEYS FLEX

Get more Tech at www.blackenterprise.com/technology

11 TECH.indd 44 10/22/12 3:41 PM


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www.knots4kids.org

Tie a knot, build a brighter future.

Founded by neckwear designer and entrepreneur

Efferem Williams, Knots4Kids strives to be

the difference by mentoring young men,

delivering a program tailored toward

character, personal and skill development.

Knots4Kids is designed to promote the

importance of healthy lifestyles, academic

excellence, social responsibility and diplomacy.

Today, more than 600 boys have graduated from

Knots4Kids youth programs, setting their course

for short- and long-term personal success.

Knots4Kids tailored programs:

•Attitudeandrespect

•Careerreadiness

•Crimeprevention

•Diningetiquette&chivalry

•Dressingforsuccess

•Entrepreneurship

•Financialliteracy

•Healthawareness

Knots4Kids helps build the connections that

will mean a more positive pathway for our young

men and a better outlook for our communities.

Please consider a contribution to support our

programs and the young men we serve.

Knots4Kids was formed in Jacksonville, Florida,

in 2007 to engage, educate and empower young

men in their journey from boyhood to manhood.

10.22.2012 12:42 BE0000_1112.pdf


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UNDECIDED ABOUT HER PROFESSIONAL GOALS

as a teenager, Audra Lowe decided to pursue a career in

television while watching a newscast with her mother.

AȎer 24 years in the business, her work ethic and open-

ness to change has kept her thriving in this competitive

industry.

How she got the job:

When Lowe was contacted about the prospect of hosting

The Better Show in 2007, the start date was only three

weeks from the time the o�er was presented. Lowe dis-

cussed the matter with her husband and relocated to New

York. The Better Show launched nationally in 12 markets

in 2007 and today airs in 180. She has interviewed a range

of guests from Lisa Ling and LL Cool J to President Bill

THE WORK I DO

More Than TalkA seasoned TV professional

focuses on longevity

Name: Audra Lowe

Job: Host, The Better Show, a nationally syndicated

lifestyle program produced by Meredith Corp.

Location: New York

46 EDITED BY SONIA ALLEYNE @SONIAALLEYNE • PHOTOGRAPH BY CREDIT • MONTH 2012

11 WORK.indd 46 10/23/12 2:25 PM


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Get specifi ctreatment to helprelieve this pain.

DIABETES DAMAGES NERVESwhich may cause shooting,

burning, pins-and-needles pain.Lyrica is believed to work on these damaged nerves.

DDDDDDDDDDDDDDDD

bbbbbbbbbbbbbbbbLLLLLLLLLLLLLLLLyy

Prescription Lyrica is not for everyone. Tell your doctor right away about any serious allergic reaction that causes swelling of the face, mouth, lips, gums, tongue, throat or neck or any trouble breathing or that affects your skin. Lyrica may cause suicidal thoughts or actions in a very small number of people. Call your doctor right away if you have new or worsening depression, suicidal thoughts or actions, or unusual changes in mood or behavior. Lyrica may cause swelling of your hands, legs and feet. Some of the most common side effects of Lyrica are dizziness and sleepiness. Do not drive or work with machines until you know how Lyrica affects you. Other common side effects are blurry vision, weight gain, trouble concentrating, dry mouth, and feeling “high.” Also, tell your doctor right away about muscle pain along with feeling sick and feverish, or any changes in your eyesight including blurry vision or any skin sores if you have diabetes. You may have a higher chance of swelling, hives or gaining weight if you are also taking certain diabetes or high blood pressure medicines. Do not drink alcohol while taking Lyrica. You may have more dizziness and sleepiness if you take Lyrica with alcohol, narcotic pain medicines, or medicines for anxiety. If you have had a drug or alcohol problem, you may be more likely to misuse Lyrica. Tell your doctor if you are planning to father a child. Talk with your doctor before you stop taking Lyrica or any other prescription medication.

Please see Important Risk Information for Lyrica on the following page.

To learn more visit www.lyrica.com or call toll-free 1-888-9-LYRICA (1-888-959-7422).

You are encouraged to report negative side effects of prescription drugs to the FDA.Visit www.FDA.gov/medwatch or call 1-800-FDA-1088. PBP469710-01 ©2012 Pfi zer Inc. All rights reserved. July 2012

LYRICA is FDA approved to treat Diabetic Nerve Pain (or pain from Diabetic Peripheral Neuropathy).

This pain can worsen over time. LYRICA provides effective pain relief so patients feel better.* In some patients, Lyrica

can provide signifi cant pain relief in as early as the fi rst week of treatment. And, you should know, Lyrica is not a narcotic.†

*Individual results may vary. †Those who have had a drug or alcohol problem are more likely to misuse Lyrica.

Relief is possible. Ask your doctor about Lyrica today.

Artist depiction

10.22.2012 17:48 BE3537_1112.pdf


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IMPORTANT FACTS (LEER-i-kah)

BEFORE STARTING LYRICA, continued• Avandia® (rosiglitazone)*, Avandamet® (rosiglitazone and

metformin)* or Actos® (pioglitazone)** for diabetes. Youmay have a higher chance of weight gain or swelling ofyour hands or feet.

• Narcotic pain medicines (such as oxycodone), tranquilizers ormedicines for anxiety (such as lorazepam). You may have ahigher chance for dizziness and sleepiness.

• Any medicines that make you sleepy

IMPORTANT SAFETY INFORMATION ABOUT LYRICALYRICA may cause serious, even life threatening, allergic reactions.Stop taking LYRICA and call your doctor right away if youhave any signs of a serious allergic reaction:• Swelling of your face, mouth, lips, gums, tongue, throat or neck • Have any trouble breathing• Rash, hives (raised bumps) or blisters

Like other antiepileptic drugs, LYRICA may cause suicidal thoughtsor actions in a very small number of people, about 1 in 500.Call your doctor right away if you have any symptoms,especially if they are new, worse or worry you, including:• New or worsening depression• Suicidal thoughts or actions• Unusual changes in mood or behaviorDo not stop LYRICA without first talking with your doctor.

LYRICA may cause swelling of your hands, legs and feet.This swelling can be a serious problem with people withheart problems.

LYRICA may cause dizziness or sleepiness. Do not drive a car, work with machines, or do otherdangerous things until you know how LYRICA affects you.Ask your doctor when it is okay to do these things.

ABOUT LYRICALYRICA is a prescription medicine used in adults 18 years and older to treat:• Pain from damaged nerves that happens with diabetes or

that follows healing of shingles• Partial seizures when taken together with other seizure

medicines• Fibromyalgia (pain all over your body)

Who should NOT take LYRICA:• Anyone who is allergic to anything in LYRICA

POSSIBLE SIDE EFFECTS OF LYRICA LYRICA may cause serious side effects, including:• See “Important Safety Information About LYRICA.”• Muscle problems, pain, soreness or weakness along with

feeling sick and fever • Eyesight problems including blurry vision• Weight gain. Weight gain may affect control of diabetes and

can be serious for people with heart problems.• Feeling “high”

If you have any of these symptoms, tell your doctor right away.

The most common side effects of LYRICA are:• Dizziness • Trouble concentrating• Blurry vision • Swelling of hands and feet• Weight gain • Dry mouth• Sleepiness

If you have diabetes, you should pay extra attention to your skin while taking LYRICA and tell your doctor of any soresor skin problems.

HOW TO TAKE LYRICADo:• Take LYRICA exactly as your doctor tells you. Your

doctor will tell you how much to take and when to take it.Take LYRICA at the same times each day.

• Take LYRICA with or without food.Don’t:• Drive a car or use machines if you feel dizzy or sleepy

while taking LYRICA.• Drink alcohol or use other medicines that make you

sleepy while taking LYRICA.• Change the dose or stop LYRICA suddenly.

You may have headaches, nausea, diarrhea, trouble sleeping,increased sweating, or you may feel anxious if you stop takingLYRICA suddenly.

• Start any new medicines without first talking to your doctor.

NEED MORE INFORMATION?• Ask your doctor or pharmacist. This is only a brief summary

of important information.• Go to www.lyrica.com or call

1-866-459-7422 (1-866-4LYRICA).

Uninsured? Need help paying for Pfizermedicines? Pfizer has programs thatcan help. Call 1-866-706-2400 or visitwww.PfizerHelpfulAnswers.com.

PARKE–DAVIS, Division of Pfizer Inc., New York, NY 10017©2012 Pfizer Inc. All rights reserved. Printed in the USA.

Version June 2012

* Avandia and Avandamet are registered trademarks of GlaxoSmithKline.**Actos is a registered trademark of Takeda Chemicals Industries, Ltd., and

is used under license by Takeda Pharmaceuticals of America, Inc., and Eli Lilly and Co.

Rx only

BEFORE STARTING LYRICATell your doctor about all your medical conditions, including if you:• Have had depression, mood problems or suicidal thoughts or

behavior• Have or had kidney problems or dialysis• Have heart problems, including heart failure• Have a bleeding problem or a low blood platelet count• Have abused prescription medicines, street drugs or alcohol

in the past• Have ever had swelling of your face, mouth, tongue, lips,

gums, neck, or throat (angioedema)• Plan to father a child. It is not known if problems seen in

animal studies can happen in humans.• Are pregnant, plan to become pregnant or are breastfeeding.

It is not known if LYRICA will harm your unborn baby. You and your doctor should decide whether you should takeLYRICA or breast-feed, but not both.

Tell your doctor about all your medicines. Include over-the-counter medicines, vitamins, and herbal supplements.LYRICA and other medicines may affect each other causingside effects. Especially tell your doctor if you take:• Angiotensin converting enzyme (ACE) inhibitors. You may

have a higher chance for swelling and hives.

10.23.2012 15:05 BE3548_1112.pdf


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Clinton and former Secretary of State

Condoleezza Rice. “The biggest learning

curve is knowing a lot about everything,”

she says of her transition to lifestyle TV.

“You need to know who’s who from reality

TV to politicians.”

Former position:

In 2004, Lowe joined Fox Sports as an

anchor and host. “I went from news to

entertainment, then sports. I’ve always

been a sports fan, but because it was

male-dominated, I never even thought

of the possibility of reporting sports.” As

much as she loved sports, she found the

reporting challenging. “[Sports fans] know

when you aren’t truly up on your sports

knowledge and are just a talking head—

especially as a woman covering several

sports at one time. It was tough because

now I had to study the sport instead of

just enjoying it. And we covered every

sport so I was fully immersed. I did that

for three years.”

Education:

Lowe received two bachelor’s degrees

from the University of California, Santa

Barbara in communications and black

studies in 1993. Her intention in graduate

school was to broaden her studies and ful-

�ll her love of traveling as well, focusing

on international a�airs with a concentra-

tion in languages, studying Kiswahili and

French. “I wanted to take my journalism

[interests] to another level. I got tired

of covering shootings and drive-bys. I

wanted to make more of an impact on

the way in which we received news and

information from abroad.” However, her

parents were concerned about a young,

single woman working internationally, so

she stayed in Los Angeles and continued

to take care of her grandfather, who had

diabetes and was a double amputee. She

also earned a master’s in �lm, TV, and

theater in 1998.

Training:

Aside from in-class training, Lowe

interned every semester of her college

career. “By the time I graduated I felt that I

had already been working in the business

for years. I went wherever I had to go to

get that experience and �gure it all out.”

Lowe, who still considers herself a news

junkie, started and worked in news for 13

years. “I thought that was going to be it. I didn’t

plan to do lifestyle, sports, or entertainment. It

all just happened. I was open to change.”

First job:

Lowe’s �rst job o�er was in Ventura, Cali-

fornia, at KADY-TV as an associate pro-

ducer. “My �rst response was, ‘I don’t want

to produce; I don’t know anything about

producing,’ and I remember the woman

saying, ‘Try it, you never know where it’s

going to go.’ I got there and learned how to

produce, which to this day I absolutely love.”

She also learned how to write, edit, operate

studio cameras, and �oor direct the show she

helped produce, which she says is vital expe-

rience to have in the industry. At night, aȎer

her production duties, Lowe would practice

reading news scripts on camera. “I was doing

that every single night when everyone had

gone home—it would be midnight, 1 in the

morning. I would read them over and over

again—and I did that for a year.” It seemed

that there was little chance of an opportunity

until an on-air employee called in sick. The

news director, who unbeknownst to Lowe

had noticed her practicing sessions, asked

her to step in. “I had given up. I [felt] I didn’t

have the look, I don’t have the talent, I don’t

have the background,” she recalls of her frus-

trations. “It was just local cut-ins, I remember

that day like it was yesterday. I was so nervous.

It was maybe 30 seconds, but it felt like an hour.

I did it. From there he saw that I was serious

and willing to put in the work necessary to do

the job. I ended up doing both: producing and

a little bit of reporting.”

Not all glamorous:

Lowe continued working in a variety

of areas even aȎer having been on-air.

Her most frustrating gig was as a news

associate at a CBS station in LA erasing

tapes. “I had already been on the air at

the smaller station and you have to be

humble because it’s tough to go back in

the other direction. And so here I am.

There was a conveyer belt and when all

the reporters �nished �ling their stories,

their tapes would come down the belt and

I would have to demagnetize them all. I

did that for hours and hours overnight.

The CBS TV newsroom was upstairs and

I thought that if I crossed paths with the

news directors, I might get an interview.

Looking back, I realized I wasn’t ready for

such a big step, but the ambition didn’t

hurt! That may have been a test to see how

bad I wanted to stay in a business that’s

full of ups and downs. You get experience

in all di�erent areas of TV. It doesn’t hap-

pen overnight where you pop up on the

air. You may end up doing a lot of work

for free just to get the experience.”

Inspiration:

“I struggled for a long time to determine

what my purpose would be and what my

career would be. All I knew when I was

growing up was that I was probably the

skinniest, least aggressive, and most naïve

kid in our family. My grandmother (aka

“Granny,” a tough cookie herself) pulled

me to the side one day and said, ‘Baby, if

you ever want to be heard, you have to

speak up. You have to learn how to use

your voice.’ I was about 8 or 9, but she kept

telling me over time. Now that I look back

on what she said, she too probably helped

me get to where I am today with her tough

love and encouragement. Those same life

lessons ended up being the foundation

for what I get to do every day.” By the

time Lowe arrived at high school, she had

found her voice, but she was still unsure

about what she wanted to do. Her mother

suggested that she become a newscaster

because she loved to talk. She ended up

watching the news that day for almost 24

hours, fascinated with a career she had

never thought of. “At that time, watching

the news, I only saw one woman on the

air who looked like me. My mother said,

‘you can do that if you want to,’ and I never

looked back.” —Sonia Alleyne

A FORMER NEWS JOURNALIST

AND SPORTS REPORTER, LOWE

NOW HOSTS A LIFESTYLE SHOW.


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STRATEGY

Résumé WorkshopHow to effectively present

your experience and skills

to a prospective employer

IN RECENT YEARS, SOCIAL MEDIA

has presented a variety of oppor-

tunities for professionals to brand

themselves and describe their

expertise. The résumé, however,

is still the document recruiters and

hiring managers request to judge

an applicant’s quali�cations—but

the expectation has changed. “The

résumé is not about you,” explains

Je� Metzger, owner of and résumé

writer at Your Résumé Consultant

(www.yourresumeconsultant.com).

“A good résumé is about your pro-

spective employer.” To stand out

from the competition, it’s important

that job seekers use the résumé to

convey their unique talents and

speci�c skills, and how those talents

and skills will bene�t an employer.

Create a “Professional Profile”:

“A professional profile answers that problem of why they

should hire you. This is your opportunity to showcase

your experience and key differentiators.” Metzger says to

stay away from overused words like “team player,” “self-

motivated” and “attention to detail,” and use phrases like

“specific expertise in.”

Use a title that’s close to the job you’re seeking:

“It tells the person what you want.” The hiring manager

should be able to tell what your expertise is at first glance.

“They have 10 or 15 or more jobs that they’re sourcing and

hundreds of résumés that they’ve received in response

to a job. If I’m hiring for a customer service rep, I want

to see that on top, not sales or operations.”

Quantify your responsibilities:

Due to the competitiveness of the workplace, today it’s

important to outline what you do. If your responsibility is

to create spreadsheets, say something such as “created

four spreadsheets on quarterly budgets for review by

senior management.” Explain how you’ve impacted or

improved company business.

Use strong, specific language:

Led, managed, and directed are great action words. Cre-

ate an attractive, conservative design appropriate for the

industry. Metzger prefers Garamond font to Times New

Roman, which is commonly used.

New Résumé:

11 WORK.indd 50 10/23/12 3:47 PM


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Lose the “Objective”: Having an objective at the top of your résumé is

outdated. In fact, if recruiters see it, they believe

the job hunter is out of touch, says Metzger.

Old Résumé:

Don’t use passive language:Avoid words such as “assisted” and

“participated.”

Be selective:Eliminate past jobs from your résumé that don’t

offer the opportunity to showcase meaningful,

transferable skills.

Résumé Checklist:

n If you’ve been in one position for several years, pull out the specifics and the depth of your work history. Did you lead teams; did you write reports; did you do quality assurance or develop a

new operating system?

n Your résumé should be a liv-ing document that’s updated regularly. Because it can be dif-ficult to remember your accom-plishments, keep an electronic file of your progress and use information from your perfor-

mance reviews.

n Appearance counts. Your résumé should look crisp and clean, says Metzger. “There cannot be any errors—I cannot over-emphasize that. During my career as a hiring manager, I’d eliminate candidates from consideration if their résumé contained errors. Proofread, proofread, proofread. It’s your first opportunity to make a con-nection with a hiring company.”

—Sonia Alleyne


11 WORK.indd 51 11/6/12 4:33 PM


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FROM

THE

C-SUITE

Otha “Skip” Spriggs III

New Position: Executive Vice President,

Chief Human Resources Officer

Organization: TIAA-CREF

Location: Charlotte, NC

Former Position: Senior Vice President, Human

Resources, Boston Scientific Corp.

Background/Responsibilities: Spriggs will oversee the com-

pany’s human resources function and ensure that it helps clients

achieve lifelong financial well-being. Spriggs has held leader-

ship roles at The Home Depot Inc., Levi Strauss & Co., UPS Inc.,

and Catalent Pharma Solutions Inc. In addition, he was senior

vice president of human resources at Cigna Corp., where he

also served as the company’s chief diversity officer and presi-

dent of the Cigna Foundation. He has a bachelor’s degree

in business administration from Towson State University.

Angela CannonNew Position: Vice President,

Affiliate Marketing

Organization: GMC TV

Location: Atlanta

Responsibilities : Cannon is

responsible for developing affiliate

marketing and demand-building

campaigns, as well as managing

key consumer initiatives.

Former Position: Senior Director,

Affiliate Marketing

Keija MinorNew Position: Editor-In-Chief,

Brides

Organization: Condé Nast

Location: New York

Responsibilities: Minor will be

directing all brand and editorial

initiatives for Brides, the oldest

and most widely read wedding

magazine in the world. She will

also oversee all licensing products,

including two stationery lines.

Former Position: Editor-

In-Chief, Uptown

Dara Richardson-

HeronNew Position: CEO

Organization: YWCA USA

Location: Washington, D.C.

Responsibilities: Richardson-

Heron will oversee the organization,

which provides services in more

than 1,300 locations in the U.S. and

in over 100 countries.

Former Position: CEO, Greater New

York City Affiliate, Susan G. Komen

for the Cure

Michelle D. GreeneNew Position: Executive

Director-IT-Interiors, Automotive

Organization: Johnson Controls

Location: Holland, MI

Responsibilities: Greene repre-

sents Electronics and Interiors IT,

and has functional oversight for

Electronics IT for all Interiors IT

resources and services.

Former Position: Director-IT, Global

Lines of Business and Headquarters,

Building Efficiency Division

11 WORK.indd 52 10/23/12 2:29 PM


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UnitedHealthcare’s Generations of Wellness® congratulates our grand prize

winner, and we salute all of those who stepped up their game to live healthy.

When employers create a culture of wellness and make it easy for their employees to take charge of their

health, we are all winners. And we’re proud to announce that Aaron Palmer of Move Baby, Move! won the

2012 Healthy Challenge Contest. Aaron will receive a trip to the the 2013 Black Enterprise Entrepreneurs

Conference. Visit www.uhctogether/behealthy to read Aaron’s story.

Thanks to everyone who submitted stories and voted in the challenge. Keep building healthy habits for generations to come.

GGGGGGGGEEEEEEEETTTTTTTT MMMMMMMM OOOOOOOO TTTTTTTT IIIIIIII VVVVVVVV AAAAAAAA TTTTTTTT EEEEEEEE DDDDDDDD

MMMMMMMMAAAAKKKK EE EE EEEE HHHH HHHH EEEE EE EE AAAAAAAA LLLLLLLL TTTTTTTTHHHHHHHH YYYY YY YY

CCCCCCCCHHHHAAAA NN NN GGGG GGGG EEEE EEEE SSSSSSSS

©2012 United HealthCare Services, Inc. Insurance coverage provided by UnitedHealthcare Insurance Company or its affi liates. Administrative services provided by United HealthCare Services, Inc. or their affi liates. Health plan coverage provided by or through a UnitedHealthcare company.

UHCEW596049-000

BBBBBBBBRRRRRRRREEEEEEEE AAAA AA AA KKKKKKKK AAAAAAAA SSSSSSSS WWWWWWWW EEEEEEEE AAAAAAAA TTTTTTTT

FFFFFFFFEEEEEEEE EE EE LL LL LL LL BBBBBBBB EEEEEEEE TTTTTTTT TTTTTTTT EEEEEEEE RRRRRRRR

IT’S TIME TOCELEBRATE HEALTH

CongratulationsAaron Palmer for being the Healthy Challenge Contest winner.

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WWW.BLACK ENTERPRISE.COM • NOVEMBER 2012 54

Wealth For Life Principle No. 7

I will ensure that my entire family adheres

to sensible money management

principles.

WHILE WORKING AS A SOFTWARE ENGINEER RECRUITER IN SILICON

Valley during the late 1990s, Cynthia Nevels learned that wealth can be fleeting, par-

ticularly without financial capability to back it up. “I saw a lot of people make a lot of

money, but when the dot-com craze was over, they didn’t have much to show for it as

far as assets were concerned,” she says. Many people were cashing in stock options to

keep up with the Joneses rather than saving for a rainy day. Determined that her then

6- and 7-year-old sons and her nieces and nephews would learn the value of saving

and investing, Nevels set out to teach them to be financially savvy.

Initially, Nevels intended to simply sit around the kitchen table with family and

share what she had taught herself about money over the years. A longtime fan of

PBS’s Nightly Business Report, Nevels had learned about investment strategies and

economic news by watching the program each night afer her boys went to bed.

Her interest in financial empowerment became even more pronounced when she

came across the business classic Rich Dad, Poor Dad by Robert T. Kiyosaki. “I read it

in two days, thinking, ‘I will never be able to build wealth without starting my own

business’, so I really needed to get my credit in order and get an understanding of

how to build assets,” the 42-year-old divorcée recalls.

Junior Achievement

Cynthia Nevels teaches her children

the value of saving and spending wisely

By Tamara E. Holmes

11 WFL-LAYOUT.indd 54 10/23/12 10:29 AM

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55NOVEMBER 2012 • PHOTOGRAPH BY STEVE MCALISTER • EDITED BY LATOYA M. SMITH @LATOYAREPORTS

Afer moving to Dallas, Nevels started holding personal

finance sessions for the children in her family, but “other

parents found out about it and said, ‘I want this, too.’” Seeing

an opportunity to make an even greater difference, Nevels

became a certified financial educator and researched how to

start a nonprofit organization. In 2002, the Jr. Finance Literacy

Academy was born.

The first eight participants of the financial literacy program

were her two sons, her brother’s three children, and friends

of the family. Ranging in age from 7 to 10, the children would

meet every Saturday morning at a local library. While Nevels

found some free financial educational resources, she spent

about $15,000 in savings for startup materials such as a website

and course materials, as well as travel money for field trips to

financial institutions. Nevels also created a learning incentive

system that she paid for out of pocket in which the children

could earn money for completing learning-related tasks. For

example, children might earn $5 for attending a session, $5 for

completing an essay about a financial topic, or $3 for reaching

a personal savings goal.

The curriculum she developed consisted of 72 hours of

training on such topics as interest, credit, debt, and investing.

Kids in the program opened savings accounts with local banks

and deposited the money they earned through the program.

About six months into the program, Nevels partnered with the

Texas Credit Union Foundation, a nonprofit organization that

develops financial education initiatives, and won a $118,000

grant to expand the Jr. Finance Literacy Academy into other

cities across the state including Austin, Fort Worth, and Houston.

She also collaborated with community centers, churches, and

other organizations, touching the lives of between 5,000 and

6,000 kids in seven years, she estimates.

In the process of helping others, Nevels’s original goal was

met, as several of her family members reaped tangible benefits

from going through the program.

Her older son, Jeremy Nelson, now 19, worked throughout

high school to save about $2,500 to pay for his books and

housing during his freshman year at Auburn University at

Montgomery in Alabama. He credits the Jr. Finance Literacy

Academy with giving him much of the discipline he needed to

save and live debt-free. “The most important lesson I was taught

was how to save my money and save it consistently,” Nelson

says. “I even save coins because anything can help.” Nelson

is also an avid investor; he and his brother, 18-year-old Tyler,

have each had brokerage accounts since 2003.

Other principles Nevels taught the students included her

“Save then Play” principle, in which students committed to

saving half of their personal income toward a personal goal,

and a no-debt principle, in which students committed to buy-

ing only things they could pay for up front. Through the bank

accounts they opened, the students also acquired real-world

experience balancing a checkbook and sticking with a budget.

HOW TO RAISE FINANCIALLY SAVVY CHILDREN

1 Iwilllivewithinmymeans.

2 Iwillmaximizemyincomepotential

througheducationandtraining.

3 Iwilleffectivelymanagemybudget,

credit,debt,andtaxobligations.

4 Iwillsaveatleast10%ofmyincome.

5 Iwillusehomeownershipasa

foundationforbuildingwealth.

6 Iwilldeviseaninvestmentplanformy

retirementneedsandchildren’seducation.

7 Iwillensurethatmyentirefamilyadheres

tosensiblemoneymanagementprinciples.

8 Iwillsupportthecreationandgrowth

ofminority-ownedbusinesses.

9 Iwillguaranteemywealthispassedon

tofuturegenerationsthroughproper

insuranceandestateplanning.

10Iwillstrengthenmycommunity

throughphilanthropy.

The 10 Wealth for Life Principles

n Be transparent with your finances. While it’s great to tell children to save

some of their money, they’ll learn more from your example, Nevels says.

If your finances need attention, get them in order before you start telling

your children what to do, or better yet, show them how your commitment

to sound financial principles, such as budgeting and saving, is improving

your finances over time.

n Create structure for lessons. Just as kids know when they have to go to

basketball practice, Nevels’s children knew that every Saturday morning

they were going to spend time talking finance. She also shared lessons

from motivational books and resources, such as Rich Dad, Poor Dad and

The Millionaire Next Door by Thomas J. Stanley, Ph.D. and William D. Danko,

Ph.D. Nevels also developed her own resources, including a set of Personal

Finance Flash Cards (Caught You Learning Publishing; $9.99) that teach

money-related terms.

n Use analogies kids can relate to. When teaching the kids about the power

of investing, Nevels applied the principles to their day-to-day lives. “My boys

played football and they wanted Nike tennis shoes. I showed them the stock

price for Nike and how investing in Nike over time could benefit them more

than those tennis shoes. So instead of trying to save for the tennis shoes, I

taught them to save to invest in Nike stock. That’s something that they still

remember today.” be

Do you live by the Wealth for Life Principles? We would love to print your story. Nominate yourself or someone you know at [email protected].

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57

“MY PHILOSOPHY WAS THAT AS LONG AS ALL MY BILLS WERE PAID I COULD spend my money on whatever I wanted,” says Talisha White, a 26-year-old Brooklyn, New York, native.

But living that lifestyle led to $4,478 in credit card debt with interest rates ranging from 16% to 19%, and minuscule savings. She has $1,340 between her checking and savings accounts.

“I shouldn’t be struggling,” admits White, who works as an office assistant for the chief of breast surgery at a local hospital earning $45,500 a year. “I was spending my money within four to five days after getting paid. Any money I set aside would be dipped into, so nothing was ever getting saved because I’d always spend it.”

But White has made some headway. She stopped using her credit cards about eight months ago so that she doesn’t accumulate more debt. “I’ve even cut them up,” she says. She recently paid off a Target department store card in August that had a $400 balance. She is currently paying $250 on her HSBC card, which has a balance of $1,600 at 19.9% APR. She is making the minimum payments on her other two cards ($47 and $20), but plans to increase these amounts once she pays off the first card. Even though White loves to travel, she has postponed travel to focus more on saving. “I want to travel and possibly live abroad one day, but I need to get a hold of my finances before I can even think about that,” she says.

Escaping the Paycheck to

Paycheck Life Talisha White seeks to change behavior

that will sabotage her financial future

By LaToya M. Smith

NOVEMBER 2012 • PHOTOGRAPH BY RAYON RICHARDS • EDITED BY DEREK T. DINGLE @DTDINGLE

Financial Fitness Contest Winner No. 139

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The Advice

She also started tracking her spend-ing with Mint .com after gett ing some guidance from friends and fam-ily, financial blogs, and Suze Orman’s book, Young, Fabulous and Broke. They all echoed that she needed to first figure out how much money she had coming in and then figure out what she was spending it on. After tracking her bank and credit card transactions, she identified her biggest culprit—eating out.

In August, she spent $508 on food and dining, $255 on personal care, and withdrew about $300 from the ATM. In just one month she reduced her food budget to $347, personal care to $50, and ATM withdrawals to $228.

“Tracking my spending is paying off,” says White, who took it a step further by organizing all bills includ-ing due dates on an Excel spreadsheet. “Before I was just guesstimating and I didn’t have a clear idea where my money was going, but now all of my expenses are categorized and I’m able to see how much money I’m spending on shopping or other things that I didn’t realize my money was going to.”

Now she will realize immediate sav-ings by moving into a cheaper apart-ment. When her lease ended in October she decided to share a two-bedroom apartment with a roommate, saving $300 a month on rent. She plans to live there for six months to save money and then move into her own place by April.

n Continue to live with roommates: White was paying $750 in rent and moved into another apartment this month to reduce costs. She plans to put money aside for six months to move into a one-bedroom apartment in Brooklyn at an estimated cost of about $950 per month. Brown advises White extend her stay. “It doesn’t add up. Talisha has to consider that she will most likely have to pay a security deposit, first and last month’s rent, which adds up to $2,850. Even if she saves the difference she was paying in rent before ($300) that will only give her $1,800 in six months. She’ll still be $1,000 short.” Brown suggests that White focus on savings. If she doesn’t want to continue living with this roommate, she should find another roommate to keep housing costs as low as possible.

n Pay off credit card debt: White has three credit cards. She has a balance of $1,600 at 19.8% APR; $1,900 at 16%; and $978 on her third card which has a 0% introductory offer which will adjust to 22% in October 2013. She is currently paying $250 on her $1,600 balance. Brown recommends that White use the $2,000 contest winnings to eliminate the debt with the highest interest rate ($1,600). After paying off that card she can use the remaining $400 to apply that to the second debt and reduce that balance to $1,500. She can then apply the $250 to the other card and the savings from paying less rent ($300) to pay off the $1,500 balance in less than three months. By continuing to roll over funds to the next debt, White will be debt-free in a total of five months.

n Build an emergency fund: White can start building her emergency fund while paying off her credit card debt. Currently she has about $288 left over

each month after all bills and expenses are paid. She should aim to create an emergency fund to cover three months of expenses, or $7,200, Brown recommends. After paying off her debt, White can use the $550 ($250 from credit card payments plus $300 savings from housing) to continue building her emergency cushion. Although her focus should be on saving, Brown suggests that she open a separate savings account designated to travel. It’s better that she have money put away than try to plan for a trip and be tempted to dip into savings or charge it, explains Brown. n Keep 403(b) contributions at 10%: Since starting to save for retirement in early October, White says she can feel the difference. Her biweekly paychecks are $183 less and she’s considering reducing the amount. Brown recommends she stick it out. By saving 10% she can grow her savings to more than $1 million by age 65. Just a 3% decrease can result in $300,000 less in savings.

n Pay off student loans sooner: White is currently paying $230 a month on her $47,900 student loan balance. She is on a graduated payment plan, which increases her payment by 12.9% every two years. Under this plan, it will take her 20 years to wipe out the debt. Brown calculates that if White increases her payments to $400 a month she can pay off her student loans in 10 years. After funding her emergency account she can apply $175 from the $250 she was paying toward her credit card debt plus the $250 she is currently paying to pay off her student loans earlier.

“She is on the right path,” says Brown. “But because she is still finding areas to cut she should revisit her progress in about three months and see how she’s doing and make adjustments as necessary.” be

black enterprise and Dawn Brown, CFP, a senior financial adviser with Altfest Personal Wealth Management in New York City, offer the following advice:


Household Income

Gross Income $45,500

Assets

Checking $250

Savings 1,090

403(b) 183

Total $1,523

Liabilities

School Loan $47,900

Credit Cards 4,500

Total $52,400

Net Worth $-50,877

Financial Snapshot

Talisha White Brooklyn, NY

To apply for the Financial Fitness Contest, go to www.blackenterprise.com/financial-fitness-contest.

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Walmart Market Manager & Fighting Hunger Advocate

Wade Hunt

Making a difference.As a board member of his local food bank, Wade is creating hunger awareness in his community through education.

To learn more, visit www.blackenterprise.com/category/career/cool-jobs/

10.22.2012 17:45 BE3533_1112.pdf


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MANAGINGSAFETY

WWW.BLACKENTERPRISE.COM • PHOTOGRAPHY BY RAYON RICHARDS • NOVEMBER 201260

A former special agent transfers his skills to corporate security

FOUR MONTHS AFTER

graduating from St. John’s

University in 1974 with a

degree in criminal justice, Lew

Rice was sworn in as a special

agent with the then-newly

formed Drug Enforcement

Administration. By the time

he retired 26 years later, he

had been given assignments

in New York City, Philadel-

phia, Miami, Detroit, Wash-

ington, D.C., and Kingston,

Jamaica. He had also become

the special agent in charge of

the New York DEA office, and

written a book, DEA Special

Agent: My Life on the Front

Line (Dorrance Publishing Co.;

$12), outlining his ascent in a

dangerous industry as well as

his involvement in the heroin

investigations of Harlem drug

lords Leroy “Nicky” Barnes

and Frank Lucas. His extensive

experience working with local,

state, federal, and international

law enforcement agencies had

also prepared him to oversee

the changing environment in

the area of corporate security.

Today, as vice president of Global Security

and Trademark Protection for The Estée

Lauder Cos., Rice is in the ninth year of

his second career, managing a team of 31

security executives throughout the world.

His responsibilities include playing a key

role in the development, implementation,

and execution of the companies’ crisis man-

agement plan, as well as investigations, loss

prevention, and supply chain security; travel

security as employees travel to challenging

environments around the world; executive

protection; and special event security for

special events and launches.

Here he explains how he managed the

transition and how his background prepared

him for a new opportunity.

How has corporate

security changed?

Prior to 9/11, the corporate security indus-

try, for the most part, especially global

companies, had a professional in that posi-

tion, but not necessarily one trained or

knowledgeable in law enforcement. Afer

9/11, the discipline changed dramatically.

The terrorist attacks showed that civilians

could be the target of terrorist groups. A lot

of companies began to look at their security

function at that time. Some of my peers got

a bump up and some got shown the door.

Corporate executives realized that they

needed to hire somebody who really knew

that discipline and had strong relationships

with contacts in federal, state, local, and

international security forces around the

world to bring the right information into

the company.

Is intelligence much more

coordinated today?

The New York City Police Department

and the FBI have corporate security out-

reach programs, and on a regular basis

they will bring together corporate security

executives and talk to them about what

they’re seeing, what’s going on, and what

they should tell their employees. The NYPD

has everyone on an e-mail and if there is

anything going on in the city, we will get a

heads-up alert.

What advantage did your

DEA background offer?

The great advantage with the DEA is that

it is an international investigative agency.

They have offices in U.S. embassies through-

out the world and work very closely with the

security forces, police, and military in Asia,

Africa, and Europe. I retired in good stand-

ing, so I can call on my relationships within

those agencies. With those connections, we

can get information and bring it back very

quickly to the company.

What has been the challenge tran-

sitioning into a corporate position?

When I came to the corporate world, I was

the special agent in charge of the New York

office of the DEA— its largest operational

By Sonia Alleyne

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NOVEMBER 2012 • BY SONIA ALLEYNE @SONIAALLEYNE 61

office. My interaction was at the highest level

of law enforcement agencies. I was working

with several hundred men and women who

went through a 17-week academy; they were

socialized in federal law enforcement. They

knew the mission. They knew the drill. In the

corporate sector, it’s not like that. Through

networking and through understanding the

core mission of the business, I have been

able to get buy-in from senior management

and employees.

How do you staff globally?

When I came in, the company allowed

me to go around the world to interview and

hire people in various parts of the world

where we have operations. Those outside

the U.S. are primarily former law enforce-

ment professionals with strong reputations

for success and with strong relationships

in their country. Relationships are always

going to be important. People are comfort-

able working with people they know. If

there is a terrorist attack or rumors of

a terrorist attack in London, the right

security persons in place can call their

colleagues in the metropolitan police

and find out what’s going on. It may not

be top-secret information, but enough

to bring back to the corporation so they

know how to manage safety procedures

for their employees. The company has

realized how important it is to have first-

class security executives looking out for

their safety. be

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NOVEMBER 2012 • PHOTOGRAPH BY CREDIT • WWW.BLACKENTERPRISE.COM 000WWW.BLACKENTERPRISE.COM • PHOTOGRAPH BY KEVIN ALLEN • NOVEMBER 201262

The Real Cost of

AdoptiontionBy Tamara E. Holmes

& Sheiresa Ngo

brown’s personal

savings helped her adopt

her daughter, kendra.

PERSONAL FINANCE

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NOVEMBER 2012 • @BLACKENTERPRISE 63

But the adoption process did not come without

challenges. For starters, Brown, 44, was shocked at

the expense. “The cost was unbelievable,” she says.

The tally included paying $1,750 for home study, a

three- to six-month process whereby social workers

examine all aspects of your home and family life

to determine whether it is a safe environment for a

child. Then there was the $1,000 she paid for a pro�le

about herself, which would be shown to prospective

birth mothers in choosing adoptive parents. Add

to that $2,880 in attorney’s fees to handle the legal

aspects. When all was said and done, Brown spent

$20,000 to $25,000 in total.

While the new mother had the personal savings

to cover the cost of adoption, many people are not

as fortunate as Brown. Private agency adoptions

can range anywhere from $5,000 to $40,000-plus,

according to the U.S. Department of Health & Human

Services Administration for Children and Families,

with $25,000 to $35,000 being the norm, experts say.

“Most families look at that $25,000 as if it’s a gigantic

brick wall,” says Cherri Walrod, who founded the

website Resources4Adoption.com aȎer looking for

money to fund her own three adoptions.

However, there are ways to get past the high cost

of adoption. Taking advantage of grants, tax credits,

low-interest loans, and other fundraising strategies,

prospective adoptive parents can e�ectively break

down �nancial barriers.

The Root of the Costs

While there is always a need for people to adopt

children, African American adoptive parents are

in particularly high demand, says Maxine Chalker,

executive director of Adoptions from the Heart

(www.aŽh.org), a private adoption agency based

in Wynnewood, Pennsylvania. In many cases,

agencies don’t have enough prospective African

American parents on their waiting list for African

American birth mothers who prefer to have their

children adopted by someone of the same race. “In

2011, Adoptions from the Heart placed 51 African

American newborns.

It’s hard to gauge how many private adoptions

take place each year because states aren’t legally

required to report that information. The Administra-

tion for Children and Families tracks only adoptions

from the foster care system, which is temporary

housing for children in the state’s control. In 2011,

50,516 children were adopted from foster care, 23%

of whom were African American.

Families considering private agency adoption

should know it’s not an overnight process; it could

take anywhere from one to two years before comple-

tion. The good news is you have a period of time

to come up with the necessary funds. “You don’t

have to write a $30,000 check the day you start,”

says Julie Gumm, author of Adopt without Debt:

Creative Ways to Cover the Cost of Adoption (Black

It’s not cheap to adopt a child from a private agency. Here’s how to finance the growth of your family

YVETTE BROWN HAS ALWAYS DREAMED OF BECOMING A MOTHER.

When the time came to turn that dream into a reality, she chose to adopt.

“I knew from a very young age that there were children in the world who

needed a home, and I always said to myself that I would adopt when I

was older,” says Brown. In March of 2010, the single physician from Cham-

bersburg, Pennsylvania, adopted a 2-week-old baby girl named Kendra.



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WWW.BLACKENTERPRISE.COM • PHOTOGRAPH BY ELTON ANDERSON • NOVEMBER 201264

Boot Publishing; $14.99). Rather, you

may need $5,000 at the beginning of

the process and another $5,000 �ve

months later, Gumm says.

Since there are limited federal

laws governing adoptions—mainly

concerning eligible expenses to

receive applicable tax credits or

exclusions—costs vary from state

to state and agency to agency. A

home study can cost between $1,000

and $3,000, and legal expenses

are in the neighborhood of $6,000,

depending on state requirements,

birth parent relinquishment paper-

work, and the number of children

being adopted. Adoption agency

fees can be as little as $5,000 or as

high as $40,000, depending upon

the services o�ered. For instance, it

may cost less to �nd your own birth

mother and have the agency handle just the legal work,” says

Kimberly King, adoptive family coordinator for Lifetime Adop-

tion Center (www.lifetimeadoption.com), a national adoption

facilitator. This option was chosen by Yamilée Emmanuel-Kelly

and Errol Kelly. The couple, who have been married for 18 years,

desired a family. AȎer several years of trying for a baby, they

decided to adopt directly from a birth mother, with the help of

a lawyer and social worker. Yamilée, who had been diagnosed

with polycystic ovarian syndrome, was determined to have the

family they always dreamed of.

“We wanted two kids, a boy and a girl. And I was going to

�nd a way to make it happen,” says Yamilée, 42, a high school

social studies teacher.

The Kellys sought guidance from Parents Adoption Lifeline,

a Palm Beach Gardens, Florida-based adoption support group.

Errol, a 44-year-old IT professional for a local university, had a

co-worker who told him about a support group for people who

had adopted, those interested in adoption, and those going through

the process. In February 2001, a few days aȎer joining the group,

the couple received a call from a social worker, saying a young

mother was interested in placing her child for adoption. Much

to their dismay, the birth mother changed her mind a few weeks

later, shortly aȎer giving birth. Then, in April 2001, another oppor-

tunity arose. Yamilée and Errol received a call from their lawyer

and were matched with a birth mother who was due in August.

The Kelly’s son, Zakia, was born in August 2001. Overall, the

cost was about $11, 000. The process for adopting Zakia, now

11 years old, was roughly �ve months. Three years later, the

couple decided to adopt again, using the same process. Their

daughter, Arrianna, was born July 2004. They say the total cost

was about $15,000. The Kellys were able to pay for the cost of

adopting Zakia through tax refunds, personal savings, and family

contributions. In addition to the above, they had a personal loan

and money they received from a grant when adopting Arrianna.

The couple says the process for adopting Arrianna, now 8 years

old, was about six months.

The couple’s advice: “Do your

research,” says Yamilée. “We got a

$2,000 to $5,000 grant for parents

adopting from a private agency; our

social worker told us about it. There is

money available out there. People are

willing to help you.”

Managing the Expense

“If you are looking for a program that is going to walk you

through everything from beginning to end, it will probably be

more expensive.” Also, some agencies charge fees for parts of

the application process such as �ngerprinting and criminal

background checks. Others require prospective parents to

pay medical and housing expenses for the birth mother, says

Gloria Hochman, a spokesperson for the National Adoption

Center (www.adopt.org). If you adopt a child in another state,

transportation and housing costs—while you’re waiting to

bring your baby home—may need to be added to the amount

you’ll need to raise.

While the costs can be prohibitive, there are ways for fami-

lies to �nd �nancial relief. “Going into debt is never something

somebody wants to do,” says Gumm. “I know people who’ve

drained retirement accounts to pay for adoption.” Parents who

don’t have the money for a private adoption should consider

adopting from the foster care system. However, it is rare that an

infant would be available. But “because we’re so eager to get

kids out of foster care as quickly as possible and into permanent

homes, there’s really not very much in the way of expenses,”

says Hochman. In foster care adoptions, fees are oȎen kept to a

minimum or are waived, such as the charge for the home study.

There are also adoption subsidies of up to several hundred dollars

per month (depending on the state) available to help defray costs

for families who adopt from the foster care system. If you’re still

set on a private agency adoption, some agencies charge fees on

a sliding scale, so people with less income pay less.

AN ADOP-

TION GRANT

HELPED THE

KELLYS TURN

THEIR DREAM

INTO REALITY.

PERSONAL FINANCE



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Here are other funding sources to consider:

Federal and State Tax Credits: There is a federal tax credit

of up to $12,650 per adoption in 2012. The amount a family

quali�es for depends on such factors as the family’s income,

qualifying expenses such as court costs and attorney’s fees,

and whether the child has special medical needs. However,

the adoption tax credit is set to expire on Dec. 31, unless

Congress passes legislation to extend it. Some states also

o�er tax credits.

Military Family Subsidies: Members of the military whose

adoptions are arranged through qualifying adoption agen-

cies may be eligible for reimbursement for up to $2,000 per

child or up to $5,000 per year.

Employer Reimbursement Programs: Many companies

o�er �nancial assistance for adoption as a bene�t. An Aon

Hewitt survey of 1,000 major U.S. employers found that

56% o�er a �nancial adoption bene�t. Company payments

ranged from $500 to $25,000 according to the Dave Thomas

Foundation for Adoption.

Grants: Several organizations provide grants to prospective

adoptive parents. However, you typically must have your

home study done before you can apply. Some grants are

geared particularly toward certain communities. For exam-

ple, Lifetime Adoption Center has the African-American

Enrichment Program, which o�ers grants between $1,000

and $4,000. Should you plan to apply for grants, expect to

�ll out a lot of paperwork, says Walrod, who maintains a

database of more than 70 adoption grant and loan oppor-

tunities at Resources4Adoption.com.

Fundraising: Many people find creative ways, or they

capitalize on a hobby such as sewing, to �nance adoption.

Working a second job to bring in extra money is another

option. Others enlist the aid of their families and friends by

asking them to make a �nancial contribution to an adoption

fund or to donate furniture and other items that can be sold

on eBay, says Gumm.

Financing: Taking out an adoption loan is another alterna-

tive, however, just be wary of predatory lenders looking

to take advantage of families that are in an emotionally

vulnerable state, warns Walrod, who has come across

adoption loans with interest rates as high as 25%. “Any

time you get [interest rates] in the double digits, you need

to proceed with caution,” she says. Check with your credit

union or bank, Walrod suggests. Also, some organizations

o�er low-interest and interest-free loans for adoption, such

as the ABBA Fund (www.abbafund.org) and Lifesong Legacy

Fund (www.lifesongfororphans.org).

While the �nancial path to adoption is not easy, there are

plenty of resources to make the journey less taxing. And the

reward is worth the e�ort, says Brown, who can’t imagine

life without 2-and-a-half-year-old Kendra. “I love every

minute with her.”

THE COST OF ADOPTIONBREAKDOWN OF FEES

Home Study

$1,000 to $3,000

(average:$2,000)

Document Preparation

$500 to $2,000 (average:$1,250)

Attorney for Adoptive parents

$2,500 to $6,000

(average:$4,250)

Counseling Expenses for the

Birth Mother

$1,000 to $2,500

(average:$1,750)

Adoption Agency Fees

$5,000 to $40,000 (average:$22,500)

Total Average Cost

$31,750SOURCE:

CHILDWELFARE.GOV AND GLORIA HOCHMAN



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55Resource ToolsChildwelfare.gov (www.childwelfare.gov/

adoption) provides adoption resources and

information from the U.S. government.

African American Adoptions Online

(http://africanamericanadoptionsonline.

com) has information developed by Life-

time Adoption Center for African American

parents looking to adopt through private

agencies.

Resources 4 Adoption (www.Resources

4Adoption.com) lists information about

adoption grants and loans.

American Academy of Adoption Attorneys

(www.adoptionattorneys.org) is a source

for locating adoption attorneys experienced

in interstate and international adoption

regulations.

Help Us Adopt (www.helpusadopt.org) is an

organization that provides adoption grants.

be

20

Speaker


Feb. 27-Mar. 2, 2013Waldorf Astoria Orlando

Orlando, Florida

www.blackenterprise.com/wps

Claimsher power

through finance.

Author & Financial Literacy Advocate

2012Fe

d Speaker

Author &

eatured

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Coleman MorrisAuthor &

PERSONAL FINANCE



WorldMags.net



A position at Travelers is no typical insurance job. Just ask Virnitia from the Hartford office.

She’s been at Travelers for more than 15 years, and during that time, her career has taken many

paths. She started in the special collections unit, moved into the management level in billing

and collections, then to systems support and now is a 2nd Vice President leading the Claim

Project Management Office. All while being a working mother of three. She’s a perfect example

of the encouraged mobility within a company that provides continuous challenge and growth.

Travelers believes in helping you build your career—no matter the path you take. Learn more

about what makes Travelers unique at travelers.com/Diversity.

We have upward mobility, sideways mobility, and any other kind of mobility you’d ever want.

travelers.com

EOE ©2012 The Travelers Indemnity Company. All rights reserved. Travelers and the Travelers Umbrella logo are registered trademarks of the The Travelers Indemnity Company in the U.S. and other countries.

The Travelers Indemnity Company and its property casualty affiliates. One Tower Square, Hartford, CT 06183

07.09.2012 16:00 BE3397_0812.pdf


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@BLACKENTERPRISE • NOVEMBER 2012 68

By Marcia Wade Talbert

How

four professionals found

lucrative opportunities in a growing field

HAVE YOU EVER CONSIDERED THE EFFORT that goes into preparing your lunch? No, we’re not talking about what happened in the kitchen 20 minutes ago—we mean before that. Before the peppers on your burrito were harvested last spring, an economist had to forecast the quantity of seeds that would be needed to sustain the demand for peppers in Mexican-style restaurants this fall. Ahead of the restaurateur’s deci-

sion to serve locally sourced, grass-fed beef in all his entrées,

the owner of a family-owned farm hired someone to market

and brand that beef to attract retail attention. Before immigrant

farm production workers received equitable pay for a hard day’s

work, a civil rights attorney with the United States Department

of Agriculture studied their complaints and determined if dis-

crimination occurred in the dairy plant that produced your sour

cream. Long before you drank your beer and sighed contentedly,

a food scientist calculated the amount of yeast needed for the

fermenting process to produce the �avor you’re accustomed

to in your favorite brand.

Well, if you hadn’t

wondered about that

before, I’m sure you

hadn’t thought about

the myriad jobs involved.

The fact is, employment of

agricultural and food scientists

is expected to increase by 10% from

2010 to 2020, according to the Bureau of Labor

Statistics. And the USDA expects that some 25,700 jobs will

open up annually for management and business representa-

tives in food systems, renewable energy, and the environment

between 2010 and 2015.

These are professional positions that cater to scientists,

lawyers, and people with MBAs, with starting salaries above

$40,000. But there is a shortfall of candidates with skill sets in

science, technology, engineering, and mathematics to �ll these

vacancies. On the next few pages you will meet four young

professionals who chose not to ignore the industry but lever-

aged their knowledge of agriculture and its market demands

to �t their professional and business goals.

CAREERS

Earth'sBest-LAYOUT.indd 68 10/22/12 9:35 PM


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04.03.2012 12:12 BE3246_0512.pdf


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“When Steve Harvey found out I was

a food scientist, it blew his mind,” says

chef Judson Todd Allen, the self-described

“architect of �avor” who was recently a guest

on Harvey’s show. Allen’s company, Healthy

Infused Cuisine, specializes in personal, private,

and event chef services. “Harvey said, ‘Some of us do

that?’ It instantly gave me credibility. Then I was able to back

up the title with knowledge. He looked at me di�erently—as

an expert who could pull on the science behind food.”

Allen’s food science degree from the University of Illinois

also gave him an edge when he auditioned for The Next Food

Network Star. Celebrity chef Alton Brown, known for his enthu-

siasm in investigating the science behind food, chose Allen, the

only contestant with a degree in food science, to join his team

for the Season 8 competition. And though some might think of

scientists as stu�y or aloof, Brown complimented Allen on his

personable presentation style.

“When I went to college, I went into food science because

I knew it would set me apart from my competitors. I knew

I wasn’t going to be a traditional chef. My favorite courses

were food sensory and analysis and food chemistry,” says

Allen, who as a child dreamed of becoming an entrepreneur

and television personality like Emeril Lagasse. “Those classes

allowed me to really peel back the layers of food and �avor,

understand their chemical breakdown, and—from a sensory

perspective—train my palate to discern di�erent �avors and

their interactions.”

Allen’s goal is to use his food science

background to transform the way people

think about healthy food. He’s not the �rst to

take on this task, but because of his personal

struggle with weight (he’s lost more than 135

pounds) and eating unhealthily, he hopes to make

this message palatable to others as well. Trained at Le

Cordon Bleu, Allen has worked at the Ritz in Paris and the Institut

Paul Bocuse in Lyon, France, the gastronomic capital of the world. He

means it when he says, “Healthy doesn’t have to be boring or bland.”

Using food science as the vehicle to carry him to food celebrity

status wasn’t always Allen’s plan. As a freshman at the Chicago

High School of Agricultural Sciences in 1995, Allen resented

being associated with what had become known as “the farm

school.” But getting a grassroots, science-driven education in

high school broadened his perspective. It taught him about the

chemical processes that are naturally a part of cooking, baking,

and fermenting, and encouraged him to pursue a bachelor’s

in the �eld. While attending the University of Illinois, Judson

teamed up with a classmate and developed a lactose-free, soy-

based gourmet chocolate. They conducted a sensory analysis

panel and even placed second in a national product develop-

ment competition sponsored by Minorities in Agriculture,

Natural Resources and Related Sciences, or MANRRS.

“Food science allowed me to understand food from a scienti�c

perspective,” says Allen, who hopes to see his name and face

on grocery store shelves one day. “With that knowledge you

can play around with food, and the possibilities are endless.”

Judson

Todd Allen

31

Food Science

Mean Salary

Outlook: $64,170

CAREERS



WorldMags.net



NOVEMBER 2012 • PHOTOGRAPH BY MARY BUTKUS • WWW.BLACKENTERPRISE.COM 71

Working in a project manager-business ana-lyst capacity in the Vegetable Global Production area at agricultural product provider Monsanto, Markesha Jones is responsible for reviewing and providing key performance indicators for veg-etables using current and historical forecast data, planning tools, and production figures and capaci-ties. She spends about 15% of her time traveling to Monsanto’s production sites, which include greenhouses, production fields, and production plants. She has also traveled to production areas in Chile, France, and other places, primarily to conduct business analyses to review and improve Monsanto’s global production processes that are being conducted in these locales.

Jones’s father used skills he learned as an agronomist in his work in the U.S. Army. Growing up as the daughter of an Army service member, Jones saw agricultural practices in various parts of the world. “My father influenced my sister and me by saying that people are always going to need food, water, clothing, and shelter, which are vital for life,” says Jones. Her interest in agriculture may come naturally: Her family owned tobacco farms in Virginia; they sold winter wheat, soybeans, corn, and hay, and raised some livestock for market; they also owned a forestry business in Georgia.

When it came time to choose a career path, Jones, who graduated from Florida A&M University with a major in agribusiness and a minor in agricultural economics, followed her father’s advice and took up the family’s line of work. But instead of tilling the soil, she studied international business and earned an MBA from the University of Missouri–St. Louis. On a typical day at work she uses complex math equations and statistics to calculate crop performance and production capacities globally and in the U.S. She develops reports that production coordinators, regional production leads, crop leads, and production research specialists, among others, use to determine production, supply planning, and operation efficiencies. She then analyzes production trends to ensure that Monsanto’s global production areas and processes are functioning efficiently.

Jones credits MANRRS and the professional arm of the Agriculture Future of America, AFA Alliance, with helping her to achieve her goals. She says that organizations like these and others, such as the National FFA Organization (formerly the Future Farmers of America), help people interested in agriculture develop and achieve their goals, and she notes that

the AFA Alliance seeks out young professionals in the agriculture industry. Jones is also active in five affinity

groups at Monsanto, including AAIM, or African Americans in Monsanto. The company sponsors internships and co-op opportunities for students from various universities, including HBCUs. Jones recommends that other companies in agribusi-ness follow Monsanto’s lead and cultivate diversity programs that will attract employees of diverse backgrounds.

“Agriculture is all about supply and demand,” Jones says. “Because our society is affected in some form or another by 65% of agriculture-based products and services, there is always going to be a need or service to be filled in that area. There are so many opportunities out there, and I don’t think people tie the two together or they don’t know about it. Whether or not you have an ag-based degree there are ag opportunities in manufacturing, IT, and legal.”

Markesha

Jones

29

Agribusiness

Mean Salary

Outlook: $97,690



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On the heels of black enterprise Magazine’s successful supplier diver-

sity event in Tampa, Florida, in August, women entrepreneurs took

center stage in Charlotte, North Carolina at the media company’s

latest 20/20 Vision Forum, hosted by Walmart.

Walmart and black enterprise have been partnering on a

series of one-day events being conducted in major cities across

the country that bring creative entrepreneurs together with top

corporate leaders, veteran business owners, nationally recognized

development supplier experts, and some of the nation’s most suc-

cessful women and minority suppliers.

By tackling such urgent issues as job creation and finding capital,

the 20/20 Vision Forums are designed to help strengthen African

American businesses and emphasize their potential to impact the

global economy—as wealth builders, problem solvers, and job

creators. The event in Charlotte drew more than 300 attendees and

reached 390,000 Twitter accounts, garnering 4.4 million impressions.

“Our purpose today is to focus on helping the entrepreneurs in

this room to best access and utilize corporate supplier diversity

programs to create productive partnerships and win lucrative

contracts with major corporations,” said be President and CEO

Earl “Butch” Graves, Jr., in his opening remarks, stressing that the

day’s focus on women is “only fitting” as women entrepreneurs –

African American women entrepreneurs, in particular – are among

the fastest growing segments of business owners in this country.

In addition to hosting our 20/20 Vision Forums, Walmart is

a major sponsor of the Black Enterprise Entrepreneurs Confer-

ence, which will take place May 15-18, 2013 in Columbus, Ohio.

“Walmart is so serious about this forum achieving maximum

engagement today, that they’ve also charged us with expanding

today’s discussion using social media,” says Graves.

The theme was picked up by Sylvia Brewer, Walmart’s regional

human resources director in Charlotte.

“This 20/20 forum is a great learning opportunity but it’s also

about women’s empowerment—an issue that has caught Walmart’s

attention and galvanized us into action,” Brewer said, noting that

the retailer giant is marking its 50th anniversary with the launch

of its Global Women’s Economic Empowerment Initiative.

“This is the most ambitious social action initiative we’ve ever

undertaken. Over the space of five years, we will source over $20

billion in products and services from women-owned business in

the US and double our sourcing from women suppliers internation-

ally,” she said. The initiative also includes a $100 million in grant

commitments to non-profits working to help train and prepare

women for entrepreneurship and economic self-sufficiency.

“All of us at Walmart are enthused about what women-owned

businesses are accomplishing,” she added.

Certainly there was ample cause for enthusiasm on display in

Charlotte, which attracted dynamic women professionals from

across the spectrum.

Accomplished entrepreneur Dawn Fitch, co-founder of the

Orange, New Jersey-based bath and body company Pooka Pure and

Simple, shared her experience with social media venues like Twit-

ter that were instrumental in getting the word out on her natural

handmade products, including a cover story in black enterprise:

“Traditionally the main way to get in touch with media outlets was

through a PR person, but at the beginning when capital is maybe

low, it may be harder to have a PR company.”

The good news, said Fitch, is that today nearly all reporters and

editors are embracing social media.

“You have direct access to them, which we didn't have before.

You can follow them on Twitter. You can go to their fan pages.

You can go to their Facebook pages. And when they’re looking

for sources, if it’s something that fits in, you can respond directly

to them. And that’s an amazing benefit of social media,” she said.

A morning panel on successful strategic planning for the long

term showcased Lisa Price, CEO and founder of Carol’s Daughter,

Balancing Growth and Authenticity: Women Entrepreneurs Make it Work at20/20 Vision Forum By Chris Atwell

tk

S P E C I A L A DV E R T I S I N G S E C T I O N

10.23.2012 20:18 BE3545_1112.pdf


WorldMags.net



and Valerie Daniels-Carter, president and CEO of V & J Foods,

one of nation’s largest African American firms. Also participating

was locally based human resource consultant Brenda Anderson,

president and CEO for the Galilee Agency in Charlotte.

The trio provided a spirited discussion that covered success strate-

gies and anticipating roadblocks, revealing what drives any success-

ful enterprise, particularly in its first unsteady steps out of the gate.

“You have to understand why it is that you are starting that

business and it has to start inside,” advised Anderson. “It has to

be an internal message that says this is what I need to do, because

that is what’s going to sustain you when the checks aren't in the

mail. That’s going to sustain you when that one employee you

were counting on to carry you through that project leaves.

That’s what’s going to sustain you when the IRS does

those letters of threat. That’s what’s going to sustain

you when the product that you thought you were

going to sell is not ready to be sold.

“Unless you can answer that question personally –

Why am I in business? – it’s going to be very difficult.”

Daniels-Carter brought passion to spare to the

discussion, as well as her business game, at one point

stating she knew she was “destined for greatness”

early on. Having grown a single Burger King fran-

chise into a be 100s company with more than 4,500

employees in two decades, no one disputed her.

She did add, however, that even passion needs a

reality check, especially when undertaking an expan-

sion of your business: “It doesn't do you any good to

have 140 restaurants if you’re not making any money. You

really have to understand what the principal profitability model is

for your environment. You don't want to expand it too quickly …

you’ll create a really bad situation for yourself where you will over

engage and not be able to deliver. It’s better to under commit and

over deliver than to make a high commitment and under perform.”

A challenging transition for Price as her venture began to grow,

she said, was shifing from family support to more high-level pro-

fessional talent to meet growing more complex needs.

“When you go from being a company that’s making $700,000 in

sales to a company that’s doing $10 million or $15 million in sales,

the expectation of what’s required changes. We had to look like a

professional beauty company and some of my family members

did not have beauty company experience.”

Growth, the group agreed, brings its own risks. A dependence

on the “expertise” of advisors and consultants can go beyond

informing leadership decisions to hindering them if the CEO does

not remain firm in her goals and in her self.

“One thing that you always have to remember,” said

Daniels-Carter, “is that as the owner of the business

and the passion behind the business, you are the

business. [Others] may know operations, they may

know marketing, they may know PR, but they don't

know you and they don't know your story and they

don't know what you’ve built and they don't know

why your customer comes to you. You know that. So

you always have to keep that rock solid and bring their

advice in as needed. You walk a very fine line between ‘there are

some changes that I have to make to grow and be better’ and ‘I

have to hold onto this to remain authentic.’ Because once you’re

not authentic, your customer knows right away and it’s the hardest

thing to get her to come back.”

On Leadership:“When you're starting out, you can't be every-thing to everyone. And if you really have a vision and if you're a real leader, some people are going to follow you without asking for a dime.”

—Dr. Twyla Garrett, entrepreneur; founder, Garrett Entertainment Company

On Priorities:“Focus on sales. What we see often times is that folks do a lot of marketing and PR and have events and have parties and at the end of all of it, they've sold nothing. If you can create sales, you can find the capital.”

—Kesha Cash, director of investment, Jalia Ventures

On Success: “One of the things that research shows, one piece that when you look at research, is that people who are highly successful at a fundamental level have a tremendous belief that they can pull it off. That is something that is non-negotiable.”

—Audrey Bohannon, vice president of diversity and inclusion, Global Novations

10.24.2012 10:18 BE3546_1112.pdf


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HEADLINE GOES HERE


“I love meat, but I also love knowing

where my meat comes from,” says Naithan

Jones (no relation to Markesha Jones), who

grew up in the Kansas City metro area, famed

for its steaks and barbecue. Jones is not alone. A

growing number of people want their meat raised and

produced locally on small farms and ranches, not shipped long

distances from mechanized corporate feedlots that �nish tens

of thousands of livestock at a time.

As the founder of AgLocal, a Web-based marketplace and

exchange platform for the buying and selling of pasture-

raised and other non-commercially raised meats, Jones wants

to change the way people produce and source beef, chicken,

and pork. He hopes to empower not only meat eaters, but also

restaurant owners with his Twitter-based #EatClear campaign

by facilitating a connection between consumers and restaurants.

“What Amazon did for small independent publishers can be

applied to agriculture,” says Jones, who hopes to provide equal

competition in the marketplace for restaurants, distributors, and

non-corporate, non-mechanized farms. “[Amazon] immediately

enabled small publishers to access larger markets at scale and

have all the tools and resources and supply chain to compete

for the same eyeballs as the large publishing houses.”

It’s not di�cult to see the value proposi-

tion in his idea. The U.S. beef cattle industry

alone had a retail equivalent value of $79 bil-

lion in 2011 and comprises more than 900,000

operations with cattle and calves, including beef

and dairy cattle.

Local farmers in western Kansas and California have been

supportive of AgLocal, but so has Silicon Valley. Jones was

selected from hundreds of applicants to participate as one of

seven resident entrepreneurs in the second NewMe Accelera-

tor class for minority tech entrepreneurs. He has since raised

more than $1 million from venture capital �rm Andreessen

Horowitz, OpenAir Equity Partners, Serious Change, and Art-

ists & Instigators.

Jones, who worked for the Kau�man Foundation structur-

ing the business model for the entrepreneurship education

programs used in Silicon Valley, Boston, and Austin, Texas, was

inspired by his wife’s aunt, a farmer who has a Ph.D. in range

management and agronomy and AgLocal’s �rst investor. But

he laments that rural America has su�ered a brain drain. “That

can’t continue to happen,” he says. “We need smart people in

rural areas supporting rural innovation, folks that don’t mind

sacri�cing the city lifestyle to do important work.”

Naithan

Jones

37

Technology

Salary Outlook:

Varies

CAREERS



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Help complete your child’s future by encouraging them to get

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Pledge to take your diabetes to heart today. To learn more, visit takingdiabetestoheart.com.

Copyright © 2012 Merck Sharp & Dohme Corp., a subsidiary of

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WWW.BLACKENTERPRISE.COM • PHOTOGRAPH BY BOB NICHOLS • NOVEMBER 201276

As an adjudicator in the USDA’s Office of the Assistant Secretary for Civil Rights, Cinnamon Butler makes sure that USDA loans, programs, and services are provided based on the merits of a business decision and not on factors that could be discriminatory, such as race, sex, age, or religion. She then writes a decision that determines if damages should be awarded, compliance reviews required, or training in civil rights conducted.

Among other things, she evaluates whether discrimination has occurred with USDA-funded rural housing for the elderly or disabled. “Sometimes state, local, and federal monies aren’t geared toward people who need it,” says Butler, who in col-lege became a member of Alpha Zeta, the national scholastic fraternity for agriculture students and professionals.

While Butler was attending the University of Kentucky in 1998, a landmark class action lawsuit known as Pigford v. Glickman was on the verge of being filed against the USDA. It alleged that black farmers had been discriminated against in the allocation of farm loans and assistance between 1993 and 1997.

Butler, who was elected president of the school’s MANRRS chapter, and who won a national MANRRS public speaking contest, gave a speech on the Pigford settlement for a class. The suit hit home with her because she was raised on a 400-acre family farm in western Kentucky in an area called Butlertown—named after her relatives. Some of her relatives joined the lawsuit and eventually received a $50,000 settlement. But Butler knew of families who didn’t. Although she didn’t realize it at the time, the topic set her on the path to champion small farmers and underrepresented agri-culture workers.

After graduating with a degree in animal science, she took a job as a plant management trainee at Perdue Farms and supervised approximately 50 people, mostly Latinos and Bos-nian refugees who spoke little Eng-lish. She developed a rapport with them and they turned to her for

solutions to work-related problems. “I thought if I can do that in this capacity, I can do an even better job in a legal capacity,” Butler recalls. Not long afterward, she entered law school. Her last year in law school was paid for

by a fellowship from the American Association of University Women, which supported her pursuit of a career in agricultural law, a field typically dominated by men.

Butler worked in the Governor’s Office of Agricultural Policy, where entrepreneurs and small farmers apply for loans to develop agriculture products. The next summer she served in the Kentucky Department of Agriculture in the legal counsel department. But before acquiring her dream job at the USDA, Butler was advised to get litigation experience in the court-room. She says her courtroom experience was invaluable, but that her animal science experience is also useful because it helps her to understand the day-to-day operations, yields, and expenses, and the legal implications of running a farm of limited resources. be

Cinnamon

Butler31

Agriculture Law

Starting Salary:

$68,809

CAREERS



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mains constant.

following integer

equencies

ns periodic

sequences.

vertical axis.

exchange

probability

generated

further added

computations.

African-American high school students

who participate in the National Math and

Science Initiative are six times more likely

to earn passing scores on AP® tests. Let’s

give more students that opportunity.

Let’s get America back on track.

exxonmobil.com/letssolvethis

Let’s unlock more doors.

08.01.2012 10:41 BE3425_0912.pdf


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@BLACKENTERPRISE • NOVEMBER 2012 78

Winning Battles for VETPRENEURS

By Cliff Hocker

Returning GIs

access capital and

other support to grow

thriving businesses

on the homefront

S


11 VETPRENEURS.indd 78 10/23/12 11:58 AM


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For YesterdaY’s technologY to keep up with todaY’s demands.With Ethernet speeds from 1Mbps to 10Gbps, Comcast Business Class makes getting to the Cloud faster than ever.

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can’t

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10.23.2012 13:35 BE3543_1112.pdf


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WWW.BLACKENTERPRISE.COM • PHOTOGRAPH BY ARA HOWRANI • NOVEMBER 201280

IN BAGHDAD, CAPT. JOHN E. JAMES LED TWO

U.S. Army aviation platoons in combat operations. Dur-

ing Operation Iraqi Freedom, James’s primary duties

were those of platoon leader and battle captain/assis-

tant operations o�cer. Working with another assistant

and under a commander, James planned, managed,

and synchronized the deployment of 24 Apache and 10 Black

Hawk helicopters. A graduate of West Point, James has �own

nearly 1,200 hours and been awarded several combat medals,

but he says his greatest achievement is bringing all his soldiers

home alive and physically unharmed in 2009.

When James, 31, was honorably discharged in February, he

went to work for his family’s Detroit-based 150-employee busi-

ness, James Group International (No. 81 on the be industrial/

service companies list with $30.1 million in revenues). The

company, which does logistics work for Ford, General Motors,

and Toyota, was started by James’s father in 1971. About a year

away from completing his master’s in supply chain manage-

ment from Pennsylvania State University, James has already

increased JGI’s e�ciency. For instance, he implemented JGI’s

enterprise resource planning for information technology, or

ERP/IT, system in conjunction with Ford, giving the automaker

greater visibility of product in the supply chain.

James, vice president of operations, joined JGI to ful�ll his

lifelong dream of following in his father’s footsteps. “I �ew

halfway around the world and was blessed with the oppor-

tunity to help defend those in a foreign country who could

not defend themselves. I felt that it was past time to devote

myself in similar fashion to the beleaguered communities in

my hometown of Detroit.”

James is not alone. Many veterans are exploring business

opportunities as a means of self-su�ciency and economic

development in their homeland. African American military

servicemen and -women account for about one out of every

10 black-owned companies. Veterans of all ethnicities own 2.4

million businesses, generating total sales of $1.2 trillion and

paying 5.8 million employees.

Unlike James, who returned home to an established family

business, a number of returning service members encounter

di�culties starting enterprises and keeping the doors open.

AȎer �ghting for their country in Iraq and Afghanistan, many

are now learning how to access capital and contracts. Suc-

ceeding in business, though, is not unlike winning in battle.

Both require courage, leadership, strategic planning, decision-

making, teamwork, resourcefulness, and endurance. Former

service members may �nd a U.S. marketplace in turmoil, but

their military experience gives them a competitive edge for

starting or expanding a business—and stateside programs are

here to help.

“Military service itself is excellent preparation that provides

many of the ingredients necessary for business success,” says

Matthew Pavelek, director of communications at the National

Veteran-Owned Business Association. “Working long hours,

leadership, and being disciplined, dedicated, and accountable

are all developed through military service and are characteristics

of successful entrepreneurs.”

JAMES IS APPLYING HIS

COMBAT LEADERSHIP

SKILLS IN HIS FAMILY

BUSINESS OPERATIONS.




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can’t

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Restrictions apply. Not available in all areas. Actual speeds vary and are not guaranteed. Call for details. Comcast © 2012. All rights reserved.

FOR BANDWIDTH TO CATCH UP WITH INSPIRATION.Comcast Business Class is a new breed of speed. With Ethernet speeds from 1Mbps to 10Gbps, getting to the Cloud

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10.23.2012 13:35 BE3544_1112.pdf


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Young military o�cers, like business executives, frequently

have authority over personnel whose experience exceeds their

own, notes James. “I learned that one’s leadership acumen is

rarely de�ned by the direct orders he gives but by the direct

questions he asks,” he says. “My Army experience taught me

that my most important contribution was to get my team to

work e�ectively to accomplish the mission. Such coordination

of e�ort is essential for survival in both business and combat.”

To help veterans succeed, says Pavelek, it’s important for

them to “know that there is an incredible array of opportuni-

ties available.”

Operation Boots to Business

About 250,000 men and women leaving military service

each year attend the new Transition Assistance Program of the

Department of Defense. Regardless of their length of service,

they must all participate (within a year of their separation or

retirement) in weeklong workshops that provide information

about employment and training.

In the fall of 2010 and 2011, President Obama called for the

creation of two joint task forces: the Department of Defense-

Department of Veterans A�airs Veterans Employment Initiative

Task Force and the Interagency Task Force on Veterans Small

Business Development, led by the Small Business Administra-

tion. Approximately 15% of veterans going through TAP are

interested in SBA programs, says Rhett Jeppson, associate

administrator, SBA O�ce of Veterans Business Development.

Operation Boots to Business is a program that teaches return-

ing service members how to start and develop a business. It is

taught on base as part of the new TAP by SBA and its resource

partners. The course curriculum was developed in conjunc-

tion with the Institute for Veterans and Military Families at

Syracuse University.

The Obama administration’s emphasis on small business

entrepreneurship will help veterans play a huge role in the

recovery of the U.S. economy, says Vernice “FlyGirl” Armour,

America’s �rst African American female combat pilot. AȎer

serving in Operation Iraqi Freedom, the former U.S. Marines

captain started a consulting and multinational speaking busi-

ness. “Our young folks can transition out of the military and

struggle and look for a job and end up homeless—or we can give

them the tools they need that will supplement their leadership

training,” says Armour.

Flying solo as a business owner may prove challenging.

Veterans owning sole proprietorships don’t have the support

of a platoon or squad team. “There are de�nitely times when

you feel as if you’re alone and as if it’s combat in corporate

America,” says Armour.

Armour once heard in response to the statistic that 95% of

businesses fail in the �rst few years that they don’t actually

fail—their owners give up. But Armour, who describes her

ideas in her book, Zero to Breakthrough (Gotham Books; $25),

asks how we can help business owners make the right deci-

sions and give them the resources they need. The military

approach of “one mission, one goal, one team” is key to busi-

ness success. “Sometimes life builds a wall high enough to see

if you’re willing to work hard to get over it,” Armour muses.

“One component that veterans bring to the �ght is what I call

FLYGIRL ARMOUR BELIEVES

VETPRENEURS HAVE A

FIGHTER’S MENTALITY THAT

WON’T ACCEPT FAILURE.




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NOVEMBER 2012 • PHOTOGRAPH BY JOE ABRAHAM • WWW.BLACKENTERPRISE.COM 83

a breakthrough mentality. Accomplish the

mission—failure is not an option.”

There’s a lot of support awaiting veterans

taking the plunge into business, says Pavelek.

“Far too few veterans are aware that everyday

Americans are eager to show their gratitude

by buying from veterans, that the federal

government is required by law to buy from

veteran-owned �rms, that more than 150 of

the top 500 public corporations have special

programs dedicated to buying products and

services from veteran-owned small busi-

nesses, and that state and local governments

have passed laws to buy veteran,” he says.

Take Johnson & Johnson and Comcast,

which were named among the “10 Best Cor-

porations for Veteran-Owned Businesses for

2012” by the National Veteran-Owned Busi-

ness Association. Veronica Manuel-Gilbert,

Johnson & Johnson’s director of Enterprise

Supplier Diversity, says a top-down emphasis

on improving the company’s supplier diversity

program only makes the future look brighter

for veteran-owned businesses. She notes that

Johnson & Johnson has improved business

analytics to provide better identi�cation of

veteran-owned businesses, and continually

seeks speci�c areas where small and veteran-

owned businesses can participate.

In 2011, Comcast spent $60 million with

veteran-owned suppliers, typically purchas-

ing furniture, product installations, logistics

services, and construction. “In addition to

our long-standing supplier diversity program

and commitment to cultivating partnerships

with veteran contractors,” says Ajamu John-

son, senior director, Supplier Diversity and

Strategic Procurement at Comcast Cable, “we

support veterans in our workforce, program-

ming, and community investment initiatives.”

A Joint Diversity Advisory Council of about

40 business and community leaders advises

senior executive teams at Comcast regarding

diversity efforts and initiatives, including

enhancing relationships with service-disabled

veteran-owned businesses.

Skin in the Game

The greatest hurdle facing would-be

entrepreneurs, along with convincing fam-

ily that they can still pay the bills, is �nding

startup capital, says Pavelek. Luckily, vet-

erans have an active SBA program to help

them �nd capital: the Patriot Express Loan,

available to veterans and their spouses. From

the program’s July 2007 inception through

mid-September of this year, more than 9,200

Patriot Express Loans have been made, total-

ing an approved value of nearly $779 million.

Veteran-owned businesses typically borrow

in the range of $150,000.

The agency’s vast network comprises 68

District offices and 15 Veterans Business

Outreach centers; the latter provide coun-

seling and training to thousands of veterans

annually. The SBA also partners with SCORE,

whose 13,000 volunteers, 40% of whom are

veterans and the majority of whom are for-

mer or current CEOs, provide counseling to

veteran entrepreneurs. Veterans also have

nationwide access to 100 SBA Women’s Busi-

ness Centers and nearly 1,000 Small Business

Development Centers, many of which are at

colleges and universities.

U.S. Army Sgt. Nicole Baldwin served two

tours of duty in war zones aȎer 9/11. She

was deployed as a unit supply specialist

to Iraq during 2003–2004 and to Afghani-

stan during 2005–2006. She went on the

�rst all-female convoy into the streets of

Bagram to visit a local midwives hospital.

After her first tour of duty, Baldwin, 28,

enlisted in the Individual Ready Reserve

and attended Houston Training Schools to

become a licensed aesthetician. Inspired by

the herbal remedies her grandmother made

to heal facial burns Baldwin had su�ered as

a child, she wanted to create an all-natural,

organic skincare line. Returning to Afghani-

stan in 2009, Baldwin worked as a civilian

contractor until earlier this year, but she

BEST

CORPORATIONS

THAT BUY

VETERAN

The National Veteran-

Owned Business

Association’s leading

companies that buy

products and services

from vetpreneurs:

TOP 10

1. Booz|Allen|Hamilton

2. Comcast

3. DynCorp

4. Johnson & Johnson

5. Life Technologies

6. Lockheed Martin

7. Novartis

8. Rockwell Collins

9. SAIC

10. Volvo

HONORABLE MENTIONS

1. ConAgra Foods

2. Dell

3. JPMorgan Chase

4. Northrop Grumman

5. UPS

15

BALDWIN’S SKINCARE

LINE WAS INSPIRED

BY HER EXPOSURE

TO HARSH MIDDLE

EASTERN CLIMATES.



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kept working on her goal. “I literally had to do all

my research and correspondence with my design

team, chemist, and lender through late-night

e-mails and phone calls,” she says. Because of her

experience in the harsh, dry, Middle East climate,

Baldwin selected active, moisturizing ingredients

for her products: Amazonian babassu oil, which

deeply hydrates the skin without leaving an oily

residue, and botanicals from traditional Chinese

medicine, which reinforce the skin’s natural

defenses against oxidative stress.

Baldwin o�cially started Biao Skincare on Aug.

1 in Houston using $10,000 of her own money and

a $50,000 small business startup loan from People-

Fund, the second-largest microlender in Texas.

Biao is an acronym for beautiful inside and out.

To promote her line, Baldwin has enlisted

35 women to test the products in exchange for

feedback and reviews. She also e-mails beauty

bloggers daily and asks them to test her products.

Biao Skincare is sold online (www.biaoskincare.

com), but Baldwin is currently negotiating deals

with boutique-style retail outlets and one inter-

national online retail chain. Six weeks aȎer its

product launch, revenues reached $10,000 via

word-of-mouth. “Because of my belief in Biao

Skincare,” says Baldwin, “and by being persistent

and determined, I’ve found the right doors to

knock on for support.”

Taking Control

Marylyn Harris, vice chairman of the Advisory

Committee on Veterans Business A�airs, believes

that entrepreneurship is a viable career alterna-

tive for veterans, especially those who have

post-traumatic stress disorder. “It’s more in line

with who you are, you have more autonomy,”

says Harris, who also owns Harrland Health-

care Consulting L.L.C., a Houston-based certi-

�ed service-disabled veteran-owned business.

“Business ownership is more attractive and

symptom-mitigating to veterans because you

have a level of control that you don’t always have

as an employee.”

Harris is upbeat about business opportunities

opening up for veterans. “Vets hire other vets.

They are going to create jobs, create wealth, and

create well-being for their families. I’ve been

talking to everybody from large nonpro�ts to

major corporations about this. We need to think

in terms of incorporating veterans in the supply

chain, in supplier diversity initiatives, and we’re

going to do it quickly.” be

VETPRENEUR RESOURCESA variety of initiatives and programs exist for veterans, reserve

members, and their spouses, dependents, or survivors. Many

of these resources are available through the SBA Office of

Veterans Business Development (www.sba.gov/about-offices-

content/1/2985). Other options to explore:

Institute for Veterans and

Military Families at Syracuse University

SBA-funded programs include Operation Boots to Business

(www.sba.gov/bootstobusiness); Entrepreneurship Bootcamp

for Veterans’ Families (www.whitman.syr.edu/ebv/programs/

families), a free program that trains the surviving spouse of

a deceased military member or family members who are car-

ing for a wounded veteran; Operation Endure & Grow (www.

whitman.syr.edu/EndureAndGrow), eight-week online training

programs open to service members from all branches of the

military and their family members; and Veteran Women Igniting

the Spirit of Entrepreneurship (www.whitman.syr.edu/vwise),

a three-phase program that includes a 15-day online course.

The Center for Veterans Enterprise

(www.vetbiz.gov) manages the verification process that

veteran-owned businesses need to go through to be certified

as such. It also maintains a website that serves as the federal

government portal for veteran-owned businesses.

National Veteran Small Business Conference

(www.nationalveteransconference.com) provides veteran

small-business owners with training and the opportunity to

network directly with government and decision-makers from

large businesses.

F7 Group

(www.f7group.com) secures and provides resources, train-

ing, support, and mentoring to female veterans and women

in military families.

Women as Veteran Entrepreneurs

(wave.charsoft.com). WAVE provides a forum for veteran

woman-owned small businesses, enabling them to meet prime

contractors to discuss business teaming, sub-contracting, and

mentoring opportunities.

National Center for the Veteran Institute for Procurement

(www.montgomerycountychamber.com/foundation/veteran-

institute-procurement). This three-day, 27-hour comprehensive

certification program is designed to equip veteran businesses

and increase their ability to win government contracts.

Kauffman FastTrac NewVenture

(www.fasttrac.org/entrepreneurs/veterans.aspx).

FastTrac courses (both live and Web-based) help veterans

utilize experience acquired through military service to develop

a business platform is and leverage leadership skills.




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11.16.2011 10:06 BE3045_1211.pdf


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WWW.BLACKENTERPRISE.COM • PHOTOGRAPH BY LONNIE C. MAJOR • NOVEMBER 201286

By Carolyn M.Brown & Jeffrey McKinney

Americans

Great

for African

Franchise Opportunities

FRANCHISING

11 FRANCHISE.indd 86 10/22/12 11:01 AM

11 FRANCHISE_086.pgs 10.22.2012 13:27 BLACK YELLOW MAGENTA CYAN


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A new class of entrepreneurs is taking advantage of programs for minorities, athletes, and veterans

NOVEMBER 2012 • @BLACKENTERPRISE 87

GRAND SLAM TENNIS PRO AND FOUR-TIME OLYMPIC GOLD MEDALIST

Venus Williams is looking to ace the field of franchising. Last year, Williams, 32, signed a joint venture deal with Emeryville, California-based Jamba Juice to open five stores in the Washington, D.C.-Maryland area in the next two years. Williams opened her first Jamba Juice store at the Westfield Montgomery Mall in Bethesda, Maryland, and a second and third store this past summer in the District’s Dupont Circle and Union Station.

Williams is a long-time philanthropist and sup-

porter of academic enrichment and sports pro-

grams for youth and adults in the D.C. community.

“My partnership with Jamba Juice is an extension

of my commitment to fight against obesity and to

promote a healthy, active lifestyle,” says Williams,

who also serves as a spokeswoman for Jamba’s

Team Up for a Healthy America initiative and for

the company as a whole.

It was Chairman, President and CEO James D.

White who was instrumental in bringing the ten-

nis star onboard as a multi-unit area franchisee

and partner in the company’s expansion into the

D.C. metropolitan area. “Our entry not only brings

our healthy living brand to more customers, it also

contributes to the economic growth of the city

by hiring local residents,” he says. Since 2008,

White—one of the nation’s top African American

executives—has led the charge to transform the

fruit smoothie-centric and fresh juice company

into a full-fledged healthy, active lifestyle brand of

beverages and complementary food items. Jamba

Juice boasts more than 800 locations globally, which

account for sales of $450 million.

Williams is a good fit as a storeowner not only

because of her passion for healthy living and her

love of the brand, but also because Jamba Juice has

been signing up entrepreneurs who can operate

at least three to five locations, either occupying

stand-alone buildings or a single unit in a strip

mall. In order to qualify, a potential franchisee must

show a net worth of $1 million and liquid assets

of $350,000 or more. The initial investment for a

traditional unit is between $353,100 and $639,800,

including a $25,000 franchise fee. Royalty fees are

5.5% for four or more stores.

A Palm Beach Gardens, Florida resident, Wil-

liams doesn’t handle the day-to-day operations

of her stores, but she does work hand in hand

with Jamba Juice and store operating managers.

“They have the expertise. For me as a franchise

owner, there is a learning curve. I have to be open

to learning not only the whole philosophy of Jamba

Juice, but how the business works,” says Williams,

whose entrepreneurial experience running the

fashion line EleVen and the design firm V*Starr

has helped her in understanding, managing, and

motivating others.

Franchising continues to be an integral part of

the American economy with more people like

Williams starting businesses with a trusted brand.

On the following pages, black enterprise has not

only identified the hottest sectors poised to flourish

within the industry, but also spotlights franchise

education and recruitment programs targeting

athletes, veterans, and minorities. We finish up

with our top 25 list showcasing franchises within

high-growth categories that have low-to-medium

startup costs, high franchisee satisfaction, and a sig-

nificant number of black-owned or veteran-owned

units because of effective diversity initiatives and

incentives. Read on.




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COACHING ATHLETES AS

CHAMPION FRANCHISEES

There is a whole squad of active and retired athletes entering

the franchising arena. Among them: Jamal Mashburn, Key-

shawn Johnson, and Shaquille O’Neal. Professional athletes are

becoming more conscious about the longevity of their careers

and are placing more efforts toward planning for a life beyond

sports, says Michael Stone, founder and executive director of

the Professional Athlete Franchise Initiative.

Launched in 2011, PAFI, in partnership with the International

Franchise Association, helps prepare athletes for a second career

in franchising by hosting an annual summit and providing

educational certificate training workshops. There are also

mentorship and apprenticeship programs. PAFI has charter

membership and alliance partnerships with franchisors, sup-

pliers, and organizations such as the National Basketball Retired

Players Association. Some 40 PAFI charter members include such

brands as Dunkin’ Donuts, KFC, 7-Eleven, and Jersey Mike’s Subs.

A retired NFL player, Stone saw an immediate need for

resources for athletes transitioning from professional sports.

The idea came to him afer a meeting with Ulysses “Junior”

Bridgeman, CEO of Manna Inc. in Louisville, Kentucky (No. 5 on

the be industrial/service companies list with $528 million

in revenues). “I heard his story and felt it was something that

Player League/

Sports

Franchise # Units

Tim Biakabutuka NFL Bojangles’ 3

Ulysses “Junior”

Bridgeman

NBA Wendy’s/Chili’s 165/126

Angelo Crowell NFL Jersey Mike’s Subs 3

Tyoka Jackson NFL IHOP 2

Van Jakes NFL McDonald’s 5

Keyshawn

Johnson

NFL Panera Bread 8

Shaquille O’Neal NBA Auntie Anne’s Pretzels 19

Jamal Mashburn NBA Outback Steahouse/

Papa John’s/

Dunkin’Donuts

37/37/4

Ron Stone NFL Wingstop 4

George Tinsley NBA KFC/Quiznos/

Pizza Hut

2/2/4

Venus Williams Tennis Jamba Juice 3*

ALL-STAR ROSTERSuccessful active

and former pro

athletes that own

multi-unit franchises

*WILLIAMS HAS AN AGREEMENT

TO OPEN A TOTAL OF FIVE

JAMBA JUICE FRANCHISES

SOURCE: BLACK ENTERPRISE, PAFI

FRANCHISING




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James White

President & CEO Jamba Juice

Exciting new markets now available: Washington DC, Baltimore, New York, Atlanta, Florida, St. Louis, Indianapolis, North Carolina and many more across the country.

•

Extensive support from training, operations and vendor relationships to integrated local and national marketing. •

Recipient of the 2011 Top 50 Franchise Satisfaction Award•

To find out more about our franchising opportunities,

visit jambafranchise.com or call Sarah Goehring at 415.623.8651

Jamba Juice is growing by leaps and bounds

We’re now seeking qualified franchise candidates who are as inspired about healthy living as we are.

For over 20 years, Jamba Juice has been inspiring people to live healthy, active lifestyles. We offer over 25 great-tasting whole fruit smoothies, fresh-squeezed juices, and a variety of delicious, better-for-you meal and snack items. For customers who want to make healthier choices without sacrificing convenience, Jamba Juice makes it easy and fun. And for entrepreneurs who want to profit from a healthy business, Jamba Juice offers a whirl’d of opportunity.

INSP

IR

ING HEALTHY LIV

ING

SIN C E 19 90

years

over

20

we’reripe forexpansion!

04.03.2012 10:59 BE3241_0512.pdf


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Franchising Hot Spots


could be duplicated by other athletes,”

Stone says. A former NBA shooting guard

for the Milwaukee Bucks, Bridgeman

bought his first five Wendy’s franchises

to generate income while he planned his

next career move. He turned his athletic

fortitude into a fast-food empire that

today boasts 165 Wendy’s and 126 Chili’s

restaurants in 11 states.

Stone notes that there are more than

40 active and retired athletes involved

in franchising. PAFI strives to educate

players about franchising opportunities

once they enter the league since their

income immediately stops at retirement.

The biggest challenge is getting them to

manage their expectations. “There are

a lot of perceived quick upsides,” Stone

says. “We explain that this is a franchise,

you are not going to double your money

in year one. You are going to grow your

wealth very slowly.”

PAFI also stresses to athletes the need

to be actively involved in the early stages

of the business. This requires finding the

right people to operate the franchise. “The

biggest failures happen when you don’t

find the right partners and you just put

people in place because they are clos-

est to you, like family members,” Stone

says. “You have to select good operating

partners that have experience.”

DEVELOPING MINORITY

AND VETERAN FRANCHISEES

Last November, first lady Michelle Obama announced

Operation Enduring Opportunity, a campaign to encourage

75,000 veterans and military spouses, and 5,000 wounded

warriors to start careers in franchising by 2014 as part of Vet-

Fran, a program of the Washington, D.C.-based International

Franchise Association.

Beth Solomon, IFA’s vice president of Strategic Initiatives

and Industry Relations and head of VetFran (www.vetfran.

com), says more than 15,000 veterans have started careers in

franchising since the campaign began. This includes more than

4,200 veterans as new franchise business owners for companies

such as McDonald’s, Dunkin’ Donuts, Meineke, and Mr. Rooter.

More than 500 companies are participating, of which about

25 have waived startup fees for veterans, including The UPS

Store, Popeyes, and WIN Home Inspection. “We want to help

veterans become leaders in the civilian economy and create

the jobs America needs,” says Solomon.

The IFA also has a flagship education and recruitment

program to help minorities become franchisees. Some of

the companies in its MinorityFran initiative (www.franchise.

org/minorityfran.aspx) offer incentives such as reducing

royalty payments, waiving franchisee fees, and assisting with

financing. There are more than 100 MinorityFran participat-

ing companies, including Always Best Care Senior Services,

CruiseOne, Little Caesars, and JAN-PRO.

IFA plans to roll out a pilot program that partners minority

participants with a seasoned franchise owner. “We want them

to be mentored by individuals who have been successful, know

the ropes, and are willing to help them through their initial

learning process,” says Miriam Brewer, IFA’s senior director of

education and diversity.

The new Minority Franchisee Leadership program is

patterned afer IFA’s Franship mentoring program, where

franchisees, franchisors, and suppliers share best practices.

It will encompass three components: the MinorityFranship

mentoring program, scholarships for IFA’s Certified

Today, more than 3,500 different brands offer franchise options in the U.S. More than

725,000 franchise units operate nationwide

generating about $781 billion in revenues

and employing more than 8 million people.

The costs to purchase one can range from $5,000 to millions of dollars.

Because of the recession and bank credit crunch, franchisors are becoming

more proactive in offering alternative financing to help entrepreneurs access

capital to expand or open new franchise units. Among them: ServiceMaster,

Retro Fitness, Weed Man, Marco’s Pizza, Fastsigns, and The UPS Store.

Lower-cost franchise opportunities have always been popular, but they are

growing at rates much faster than traditional retail and food concepts, which

typically require an investment of $250,000 to $500,000 or more. Franchises

less than $100,000 include companies such as Dollar Store Services, Liberty

Tax Service, The Mail Box Stores, CKO Kickboxing, Meineke, Doc Popcorn,

Home Helpers, and U.S. Lawns, to name a few, reports FranchiseGator.

com. (Also, check out be’s editors choice in the “5 Best Buys in Home-Based

Franchises,” Small Biz, July 2012.)

Overall, minority representation in the industry is at 15%, says Eric Stites,

CEO and managing director of Franchise Business Review, an independent

franchise market research firm in Portsmouth, New Hampshire, with African

Americans making up 4%. Why so few? That’s mostly due to a lack of awareness and capital or equity. However, opportunities are plentiful if you know where to look.

FRANCHISING




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Black Enterprise Entrepreneurs Conference+Expo

Hosted by Nationwide

MAY 15-18, 2013Columbus, OH

For more information, visit www.blackenterprise.com/ecRegister on-site for the 2013 Conference and receive a special discount.

Visit the registration desk for more information.

10.23.2012 20:14 BE3556_1112.pdf


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Franchise Executives program, and the Minority Leaders in

the Making program, designed to help franchisors identify

high-potential diverse individuals to put into the pipeline

for leadership positions.

ARMY VETS HELP KIDS

THROUGH ART EDUCATION

Imagine keeping a bright outlook while being pinned down

in a bunker for hours with rocket fire blasting all around you.

That’s where U.S. Army veteran April Rose Jackson, 34, and

her husband Isaac Kordy Jackson, 27, found themselves four

years ago serving in Iraq and Afghanistan, respectively. It was

during their active duty that April imagined starting a busi-

ness. That vision became a reality afer the couple returned

home in March 2012 and—using personal savings—bought

an Abrakadoodle art education franchise in Oklahoma City

for a $48,816 total investment.

Abrakadoodle, a VetFran and MinorityFran participating

company, sells franchises that offer art classes, camps, parties,

and special events for children ages 12 and under. It has 74

franchisees that pay one-time startup costs of between $23,000

and $51,000, plus annual royalties—8% of gross revenues.

The Jacksons started their business this past summer with

four camps at various locations. Relying on creativity-

boosting educational art classes provided by Abrakadoodle,

April says the business mainly serves children ages 20 months

to 14 years old through partnerships with entities such as public

and private schools, art groups, recreational programs, and

other community sites. “We provide art to children to help them

build a foundation to become critical thinkers in today’s society.

Those skills are needed to make kids innovative and diverse.”

The Jacksons got a veterans discount of 10% from Abrakadoodle,

knocking nearly $3,700 off the purchase price. With a longtime

passion for art, a mass communications degree and a minor in

graphic art, April serves as education director while Isaac, who has

a degree in finance, oversees the books while remaining an Army

reservist. He expects revenues of $35,000 to $40,000 this year and

projects between $95,000 and $110,000 next year. The Jacksons

are confident that their franchise is needed largely because local

schools are slashing budgets and cutting art programs. The couple

sees a full year of operations, new business, and expansion into

charter, private, and Catholic schools spurring the gain. April has

even bigger dreams: She wants at least two Abrakadoodle locations

in each of Oklahoma’s 77 counties in the next two to five years.

THE JACKSONS TOOK ADVAN-

TAGE OF ABRAKADOODLE'S

10% DISCOUNT FOR VETERANS.

FRANCHISING




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10.22.2012 17:46 BE3535_1112.pdf


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SINGLE,

MULTI-UNIT AND MASTER

FRANCHISE OWNERSHIP

The average annual business income—net

pro�ts—reported by all African American

franchise owners is $50,692 versus $66,000

for all franchise owners. The primary reason

for the income gap is that African Americans

are 30% less likely to be multi-unit operators,

and multi-unit owners typically have higher

net pro�ts. Of all African American franchi-

sees, 78% are single-unit and 22% are multi-

unit owners versus 70% single-unit and 30%

multi-unit owners for all franchisees. African

American master franchisees are rare.

SINGLE-UNIT OWNER:

A person who owns one franchise store and

is responsible for the day-to-day running of

the operation.

MULTI-UNIT FRANCHISEE:

An owner of multiple units that are typi-

cally sold at a reduced rate per unit.

MASTER FRANCHISEE:

A person who buys a specific territory and

helps recruit other entrepreneurs to open

franchise units within that region,

collecting a percentage of their revenues.

NOVEMBER 2012 • WWW.BLACKENTERPRISE.COM • PHOTOGRAPH BY KEVIN ALLEN94

MEET MASTER FRANCHISEE DARREN WILLIAMS

In his former profession as a stockbroker working in down-

town Atlanta, Darren Williams experienced an “aha” moment.

He discovered that cleaning companies were fetching more

than $30,000 a month to service his building. “I was amazed.

That’s what really planted the seed for me to enter the janitorial

business,” he recalls.

Today, Williams, 40, is a master franchisee and regional

director for Anago Cleaning Systems in Washington, D.C.

He oversees 54 franchisees. Clients include multi-tenant

o�ce buildings, sporting stadiums, and bowling alleys in the

nation’s capital. Williams’s franchise was the o�cial cleaning

service of the 2012 Citi Open (formerly the Legg Mason Tennis

Classic). He also counts Jenny Craig, Amtrak, and multiple

embassies as clients.

Making the shiȎ to Main Street from Wall Street was not easy.

Williams’s greatest obstacle was coming up with the funding.

He and two business partners (younger brother Michael and

lifelong friend Roscoe Hamilton) bought the master franchise

rights to the Washington, D.C., territory in 2002, pooling together

their resources aȎer being turned down for bank loans. They

used personal savings and the sale proceeds from a previously

owned single-unit janitorial franchise (not Anago) in Atlanta

to obtain startup and operating capital. Anago agreed to help

�nance their endeavor.

Williams chose Anago over other janitorial �rms because of

its direct personal relationship with franchise owners. He met

and worked out a deal with Anago’s chairman and CEO David

Povlitz a week aȎer contacting the company.

Founded in 1989, Anago Cleaning Systems out of Pompano

Beach, Florida, has more than 2,200 unit locations nationwide,

of which 89% are minority owned. As a master franchisee, Wil-

liams’s sales team �nds cleaning contracts for Anago franchisees

he recruits to the area. He also helps provide the necessary tools

to run their business, including cleaning supplies and equip-

ment. He also o�ers training in customer service, collections,

help securing janitorial contracts, and other support. Financing

is also available for units from master franchisees.

Williams says it took nearly two years to become pro�table. He

expects to post revenues of nearly $2.5 million this year and around

$3 million for 2013. He became a master franchisee because the

income potential is greater than that of a single-unit owner. He

gets a franchising fee from his recruits plus a 10% royalty of their

annual sales. He also charges fees for services such as insurance,

bonding, workers’ compensation, and �nancing equipment such

as carpet-cleaning machines. “It’s the best decision I ever made.’’

WILLIAMS OVERSEES THE

WASHINGTON, D.C., TERRITORY

FOR ANAGO CLEANING SYSTEMS.

FRANCHISING

11 FRANCHISE.indd 94 10/24/12 4:47 PM


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Contact Perkins® today:

[email protected]

1-800-877-7375

· Established, family-oriented concept with loyal following

· Industry-leading support staff

· Revenue streams across multiple dayparts

· Operating in 33 states and 5 provinces

· Desirable territories available

ESTABLISHED CONCEPT. TRUSTED BRAND.

A RECIPE FOR OPPORTUNITY.

© 2012 Perkins & Marie Callender’s, LLC

This advertisement is not an offer to sell a franchise.

NOW AVAILABLE

Reintroducing the BLACK ENTERPRISE

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DOWNLOAD the FREEBLACK ENTERPRISE App

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For more details,

visit www.blackenterprise.com/ipad

BLACK ENTERPRISE PLUS takes our

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SOURCES: BLACK ENTERPRISE, INTERNATIONAL FRANCHISE ASSOCIATION,

FRANCHISE BUSINESS REVIEW, NATIONAL MINORITY FRANCHISING INITIATIVE

FRANCHISING

These brands and concepts offer the best business

opportunities based on minority participation,

veteran incentives, franchisee satisfaction, growth

industries, low-to-medium cost of entry, and store

success rates.

BE

BEST BETS FOR AFRICAN

AMERICANS

Company Startup Cost Website

Abrakadoodle Art Education $32,492 to $59,992 www.abrakadoodle.com

Always Best Care Senior Services $39,500 to $90,700 www.alwaysbestcare.com

Anago Cleaning Systems $2,000 to $50,000 www.anagousa.com

Anytime Fitness $46,299 to $321,899 www.anytimefitness.com

Auntie Anne’s Pretzels $197,875 to $444,100 www.auntieannes.com

BrightStar Care $100,000 www.brightstarcare.com

Coverall Health-Based Cleaning System $2,000 to $27,200 www.coverall.com

CruiseOne $495 to $9,800 www.cruiseone.com

Cruise Planners-American Express $9,995 www.cruiseplanners.com

Doc Popcorn $70,000 www.docpopcorn.com

FastSigns $75,000 www.fastsigns.com

Heaven’s Best Carpet Cleaning $28,900 to $64,000 www.heavensbest.com

i9 Sports $24,900 to $39,900 www.i9sports.com

JAN-PRO Cleaning Systems $950 to $36,500 www.jan-pro.com

Kiddie Academy $150,000 to $200,000 www.kiddieacademy.com

Little Caesars $194,250 to $622,500 www.littlecaesars.com

Mosquito Squad $25,000 to $75,000 www.mosquitosquad.com

Padgett Business Services $105,955 www.smallbizpros.com

Pop-A-Lock $30,000 to $45,000 www.popalock.com

PostNet $60,000 www.postnet.com

Proforma $0 to $19,500 www.proforma.com

Right at Home Senior Care $70,200 to $118,400 www.rightathome.net

ServiceMaster $8,380 to $24,305 www.servicemaster.com

Tutor Doctor $39,700 to $127,000 www.tutordoctor.com

WSI (We Simplify the Internet) $49,000 www.wsiworld.com




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Staffng is big business – $105 billion in sales a year big, and projected to

be $164 billion by 2018.

Express is a growing franchise, with more than 570 current locations and

29 years of experience. As an Express franchise owner, you control your

life with fexible weekday hours in a professional business.

* Average annual sales stated as $4,500,709 per territory in 2011 and $2,495,112 in 2009,

according to Item 19 in the Express Franchise Disclosure Document.

For a virtual tour of our

franchise opportunity visit

www.ExpressFranchising.com

or call call (877) 652-6400.

Featur

edSp

eaker


Feb. 27-Mar. 2, 2013Waldorf Astoria Orlando

Orlando, Florida

www.blackenterprise.com/wps

Owns her power

through leadership.

RossExecutive Vice President

& CFO

FedEx Express

Residen



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CONCIERGE SELECT

Playing on a New CourtBasketball legend Walt “Clyde” Frazier is developing

his chops in the restaurant business

98 EDITED BY SONIA ALLEYNE @SONIAALLEYNE • PHOTOGRAPHS BY LONNIE C. MAJOR • NOVEMBER 2012

WHEN WALT “CLYDE” FRAZIER RETIRED FROM

the NBA in 1980, he had been living between New

York and St. Croix, where he had invested in property.

“When my contract ended with the Knicks, I was

looking forward to sailing into the sunset,” he jokes. In

1989, he became a licensed boat captain. “I was going

to support myself by renting out properties and sailing

tourists on my boat,” he says of his retirement plans. “I

never envisioned my autograph being worth money,

working with the Knicks [as a commentator], or being

a partner in a restaurant.”

When Frazier sat down last year with good friend,

Knicks fan, and restaurateur Michael Weinstein, he had

expanded his long- and short-term rental development

in St. Croix (www.waltclydefrazier.com) to 12 units and

a main house on 5 acres of land. But it took only two

weeks for him to agree to enter into a dining partner-

ship. In March 2012, Frazier and Ark Restaurant Corp.,

where Weinstein is CEO, opened Clyde Frazier’s Wine

and Dine (www.arkrestaurants.com/clydefraziers.html)

in New York City. “It took eight months to �nd a place

and get it going,” the former point guard says of the

10,000-square-foot restaurant, bar, and lounge. “And,

it looks like Clyde. It’s my persona.”

The length of an entire city block, Wine and Dine is a

celebration of Frazier’s professional work and fashion

style. There is even an enclosed mini basketball court

situated next to the lounge. Floor-to-ceiling court action

11 LIFE.indd 98 10/22/12 8:03 PM


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photos line the restaurant’s east wall. Columns are adorned with images of

Frazier in his suits, and the ceiling is covered with pinstripe and plaid cutouts

replicating his wardrobe. “The designers came to my house and �lmed my

shoes, ties, and suits—and this is the culmination.”

Wine and Dine has become Frazier’s business focal point. He is oȎen

there, greeting and mingling with diners and guests. The varied menu o�er-

ings include salads, pastas, burgers, tacos, fajitas, and main courses such as

blackened Scottish salmon with vanilla-bourbon butter and asparagus—one

of Frazier’s favorites. Being disciplined about his diet and exercise (he has prac-

ticed yoga for more than 30 years) has helped the 67-year-old Frazier manage

the demands of the restaurant business. “I was naïve and didn’t know what

to expect,” he says. He also admits to eyeing the possibility of expanding the

brand. “Luck, common sense, and being prepared is how I played the game,”

he o�ers. “It has also helped me to succeed in business.” —Sonia Alleyne

11 LIFE.indd 99 10/22/12 8:05 PM


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WWW.BLACKENTERPRISE.COM • PHOTOGRAPHS BY LONNIE C. MAJOR • NOVEMBER 2012100

EXECUTIVE GIFT GUIDE

Holiday TreasuresFor the connoisseurs, enthusiasts, and

eclectic professionals on your list

1. Eco-friendly EssentialStylish and environmentally chic, the A2B Metro e-bike by

HeroEco (www.heroeco.com) provides a smooth and tech-

nologically advanced ride powering up to 20 mph—as fast

as one can cruise without a license. O�ering the option of

alternating between the pedals and the motor, this urban

wheeler o�ers a 500-watt electric motor, power-on-demand

acceleration, 3-inch-wide tires that have puncture protec-

tion, and front and rear lights for nighttime riding. $3,099

2. A Musical HistoryFormed in 1887, Columbia Records introduced the world to

a variety of singers across genres. 360 Sound: The Columbia

Records Story (Chronicle Books; $45) by Sean Wilentz pro-

vides an illustrative history of the recording business, race

relations, and the legendary talents Columbia recorded.

3. A Classic CollectionThe 25th Anniversary of Graceland box set (www.paulsimon.com)

honors Paul Simon’s controversial, but much-celebrated collabora-

tion with musicians from South Africa. The set comprises two CDs, a

deluxe book, notes, lyrics, and two DVDs: the original 1987 “African

Concert” and the documentary �lm Under African Skies. $106

4. Light UpThe right tools make cigar smoking an art: ST Dupont Black Chi-

nese Lacquer with Yellow Gold Finishes: $1,300; ST Dupont Ligne

1 Yellow Gold Diamond Head Lighter: $825; Davido� 5 Robusto

Cigar Case in Havana Leather Finish: $209; Davido� Double Guil-

lotine Cutter in White Gold Plate and Diamonds: $5,000 (www.

theshopsatcolumbuscircle.com/shops/davidoƑ-of-geneva-ny).

5. Touch for TasteWith 3,500 interactive recipes from 100 acclaimed chefs, a Web

browser, and personalization and friend-sharing options, the

unique, kitchen-proof la tablette QOOQ (www.qooq.com/en/)

from France is the �rst touch tablet for aspiring chefs. $399

6. House CallFashioned aȎer a doctor’s satchel, the Bombay Bar Bag is

complete with bar tools such as a Boston shaker, Japanese bar

spoon, bird’s nest strainer, muddler, ice pick, squeezer, and more.

Perfect for the on-the-go party planner. $495 —Sonia Alleyne

6

3

2

5

11 LIFE.indd 100 10/22/12 8:11 PM


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CAPTION

GOES HERE.

TYPE IS SET

IN GOTHAM

BOOK 7/9, -10

TRACKING.


1

4

11 LIFE.indd 101 10/22/12 8:13 PM


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NOVEMBER 2012 • WWW.BLACKENTERPRISE.COM102

What’s it worth to get first-person insight from a top 100 CEO?

How about Xerox CEO Ursula Burns, the most powerful black female

executive in corporate America?

Each year, the Women of Power Summit, hosted by State Farm,

brings together the nation’s most accomplished and influential

businesswomen for three days of top-notch professional devel-

opment and executive leadership training. The speaker lineup for

WPS2013, set for Feb. 27 through March 2, 2013, at the Waldorf

Astoria Orlando, once again raises the bar, with Burns, Sam’s Club

CEO Rosalind Brewer, and TV One Founder Cathy Hughes, among

those set to share the insights and strategies that enabled their

unprecedented business achievements.

For more information and to register, go to www.blackenterprise.

com/events/women-of-power-summit.

Also follow #WPS2013 for updates on Twitter.

On Oct. 19, 2012, BLACK ENTERPRISE

joined Rev. Dr. DeForest B. Soaries Jr. at the

First Baptist Church of Lincoln Gardens in

Somerset, N.J., to help launch The Billion

Dollar Challenge (www.billiondollarpay

down.com). A national debt pay-down

initiative and website created to help Ameri-

cans eliminate a

billion dollars in

personal debt,

The Billion Dol-

lar Challenge

emerged out

of Rev. Soaries’

dfree financial

strategy f irst

introduced to

a nat ionwide

audience in the

special airing of

CNN’s documen-

tary Almighty Debt. Soaries, the senior pas-

tor of FBCLG, is partnering with a number of

sponsors on the effort, as well as entertain-

ment, sports, and business notables includ-

ing actor and author Hill Harper, actor Tisha

Campbell-Martin, WNBA All-Star Cappie

Pondexter, and BCT Partners Chairman and

CEO Randal Pinkett. BLACK ENTERPRISE

is a national media partner for The Billion

Dollar Challenge and will host a “Wealth

for Life” debt pay-down group, as well as

contribute personal finance and money

management content on the site.

FeaturedSpeake

r

Powerhouse Speaker Lineup

2013 WOMEN OF POWER

A valuable opportunity to learn from

Xerox CEO Ursula Burns.

Ursula Burns

Black Enterprise Women of Power Summit

Hosted by STATE FARM®

BLACK ENTERPRISE

BILLION DOLLARJoins the

CHALLENGE

All Access

Black Enterprise (ISSN: 006-4165) is published monthly by Earl G. Graves Publishing Co., Inc., 130 Fifth Ave., New York, NY 10011. Telephone: 212-242-8000. Microfilm of back issues is available from University Microfilms, Inc. Midwest

Advertising Office: 625 N. Michigan Ave., Chicago, IL 60611. Telephone: 312-664-8667. Subscription rates in the U.S. and its possessions: $22 one year; $44 two years; $66 three years. Foreign subscriptions add $15 per year, payable in

advance, in U.S. funds only. Address all subscription inquiries to: BLACK ENTERPRISE, P.O. Box 3009, Harlan, IA 51593-0100. Or call toll-free at 800-727-7777. Allow six weeks for address changes. All rights reserved. © November 2012 by

Earl G. Graves Publishing Co., Inc. BLACK ENTERPRISE (USPS 803-280) is periodical-class postage paid at New York, NY, and at additional mailing offices. POSTMASTER: Send address changes to BLACK ENTERPRISE, Circulation Center,

P.O. Box 3009, Harlan, IA 51593-0100. Photocopy Permission: Where necessary, permission is granted by the copyright owner for those registered with the Copyright Clearance Center (CCC), 27 Congress St., Salem, MA 01970 for a flat

fee of $2 per copy of each article. Copying for other than personal or internal reference without the expressed permission of Earl G. Graves Publishing Co., Inc., is prohibited. Address requests for bulk reprints to Wright’s Media, 2407

Timberloch Place, Ste.B, The Woodlands, TX 77380. Or call 887-652-5295. Or call 866-879-9144. For subscriptions and other subscriber services, call 800-727-7777.

11 ALL ACCESS.indd 102 10/22/12 5:07 PM


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CLASSIFIEDSCLASSIFIEDSCCC

BLACK ENTERPRISEBLACK ENTERPRISE Classi fieds is a monthly feature. All classified ads are accepted at the discre-tion of the publisher. Although be makes every effort to check the authenticity of our classified ads, we accept no respon sibility or li-ability for the contents therein. The advertiser warrants that the advertisement will not contain any matter that is libelous or vio-lates any person’s right of privacy or constitutes copyright infringe-ment or is otherwise contrary to law. The advertiser assumes all responsibility in this connection and will hold be harmless from any claim, loss,damage (includ-ing reasonable attorneys’ fees) that be may incur or suffer by reason of the breach of adver-

tiser’s warranties.

Con tact Angela Wright:

212-886-9534; or

e-mail:

[email protected].

African American Gifts & Accessories

DECORATIVE “DIVA” UMBRELLAS,

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Wholesale business. catalogs available only.

800-552-0377

www.debisordinarypeople.com

Business Networking

Business Opportunities

ENTREPRENEURSHIP

We are developing a company to develop

a Black Nation.

Ask for Brother Tracy Gibson

215-471-6494

START YOUR OWN

TRAVEL BUSINESS

EXCELLENT INCOME

Affordale Home-Based Opportunity

Includes Travel Website.

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WANT TO START A

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NCTS Seminary will Do It For You.

Call Tim 612-293-3801 Ext 121

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INVENTORS: DO YOU HAVE AN IDEA?We can help you try to submit to industry.

Patent Referral Services. InventHelp® 800-INVENTION (800-468-3684)

Legal Services

ToGETHER WE’RE

Hunger is closer than you think. Reach out to your local food bank

for ways to do your part. Visit FeedingAmerica.org today.

HuNGER sINGs IN THE sHoWER, Too.

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Remember: All big companies started out small. Advertise in the B.E. Classifieds.

11 CLASSIFIED.indd 103 10/24/12 12:23 PM


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EDITED BY ALISA GUMBS @ALISAGUMBS • NOVEMBER 2012104

Randy Jackson

How did you get involved with

Taking Diabetes to Heart?

When I was diagnosed with diabetes in

2003 and I went online there was not a lot

of information. You could go to doctors—an

endocrinologist, internist, or specialist—to

find out stuff. I wanted to do an education

outreach program and so did Merck. So we

teamed up together. This program is about

trying to help people better manage Type 2

diabetes. It is a detrimental disease, because

people with Type 2 diabetes are two to four

times more at risk of developing a stroke,

heart disease, or other complications that

could lead to death.

What changes have you

made to your lifestyle?

I grew up in that lovable dirty, dirty, dirty

South: Baton Rouge, Louisiana. So, eating food

down there is the king and queen of it all.

Everything has a ton of butter. The vegetables

have sugar on them. It needs to taste good;

you are supposed to worry about the calories

and what it does to your body later. I had to

AMERICAN IDOL JUDGE, EXECUTIVE

producer for MTV’s America’s Best Dance Crew,

and Grammy Award-winning musician Randy

Jackson has recorded, produced, and toured

with many well-known artists—including R&B

diva and AI’s newest judge Mariah Carey—dur-

ing his 30-plus-year career. Now he is embark-

ing on a different kind of venture. Jackson is

touring the country with global healthcare

leader Merck & Co. for the Taking Diabetes to

Heart program (www.takingdiabetestoheart.

com). Diagnosed with Type 2 diabetes in 2003,

Jackson, now 56, will discuss how he manages

his condition to help others understand the

serious complications. Here, Jackson opens

up about using his personal experience to “set

the stage” for people to commit to a diabetes-

friendly lifestyle.

For more of Randy Jackson’s Q&A, see Web Extras at www.blackenterprise.com/magazine.

get rid of all of that in my life. I was unhealthy. I had a sedentary lifestyle. I weighed

350 pounds. I worked with my doctors to come up with a treatment plan. I changed

my diet. I exercised. I started simple—walking 15 to 20 minutes a day.

What is the biggest challenge in managing diabetes?

It doesn’t take a long time to create unhealthy habits, but it takes years sometimes

to break them. Every January people sign up for the gym, but by March they don’t go

anymore. When you have a busy lifestyle or you have job or family stress, it is easy to

let things go. You always think that it is going to happen to someone else. My dad had

diabetes. There are 26 million people living with diabetes in the U.S., and 90% are Type 2.

It hits our community, African Americans, the hardest, along with the Latino community.

Besides diabetes—and music—what else are you passionate about?

I am a creative business guy. The Randy Jackson Eyewear collection is available in

Pearle Vision, Sears, Walmart, and [boutique] stores across the country. That is some-

thing dear to me. I also have a line of watches on HSN. I am an entrepreneur at heart.

—Carolyn M. Brown

with

Backtalk

COMING NEXT ISSUE:

THE BUSINESS OF ENTERTAINMENTGet more Backtalk at www.blackenterprise.com/backtalk

11 BACKTALK.indd 104 10/22/12 12:53 PM

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FOR THE MOVERS, SHAKERS

& RAINMAKERSFOR THE ONES WHOMAKE IT HAPPEN ON THE GO

WHO ACCOMPLISH GREAT THINGSWITHOUT LOSING SIGHT OF THE IMPORTANT THINGS

FOR YOU, WE’RE MARRIOTT.Marriott.com/ForYou

09.25.2012 08:22 BE3501_1012.pdf


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10.22.2012 17:50 BE3541_1112.pdf


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Documents

Black Enterprise - November 2012