Throughout the month of April, Black Coffee Company will provide tips, fun facts, activities, and educational resources geared toward promoting/increasing financial knowledge, skills, and confidence.
This is Part 2 - "The Marathon Continues" of April is Financial Literacy Month series. Part 1 can be found here.
Day 11 [Information]: Financial Freedom is a Marathon
To kick things off, we start off this blog post with lessons from the great Ermais Asghedom also known as Nipsey Hu$$le. Nispey was the embodiment of community empowerment, financial freedom, and entrepreneurship.
On Hustlenomics – You learn all the secrets to the game on your way up. Most folk want to skip the process when you skip steps, you miss the lessons.
On Turn Up vs Own Up – It isn’t cool to be in the club spending all of this money, or having cars and jewelry – but you don’t own any real estate? a fourplex? If the answer is no, you’re not a real hustler.
Entrepreneurship – The new mindset is we don’t want advances, we want equity. We don’t want 1-off endorsements, we want ownership
Black Capital – Business models are built around our cultural currency. They develop the platform, implement structure & bring us in to raise value.
On Breaking the Chains – Own the supply chain from production to consumption. People take shots at Jay-Z but he’s the first Black artist to have vertically integrated business model where he owns the whole chain.
On Creating Value – I released 100 mixtapes and charged $1000 for each because I understood the economic principle of scarcity. The profit funded my independent label.
On Owning Real Estate – I own the block where I used to hustle from 8 am to 10 pm. I hustled, then I rented now me and David Gross will own in Crenshaw.
Day 12 [Information]: Budgeting
Budgeting is probably the number one thing you can do get yourself on a path to controlling your financial future. Theoretically, it is a very simple concept, but practically, it can be very challenging to implement. We have covered this topic in the past, thus we will just redirect you to our blog post "Live Well, Budget and Strive."