This week, I will begin this post with a true story.
In my community, there were two-black owned and operated florists who have gone out of business, who were forced to close their doors. Both of whom I know personally and patronized, and received exceptional service. How can it be that they were not able to sustain? That’s the question I pondered then and even now.
This week, I would like to further expound on this principle. I pose this question for all to ponder, “Just what if…”
What if we stretch, expand our thinking around collaboration among churches, organizations and non-profits. What if they came together, joined forces so to speak?” What if we could then improve our purchasing power?
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A young man approached me and inquired about going into business part time. My response to him was phrased in the form of question. I asked him, “What are you good at?
Though many have learned that business is a degree obtained in an institution, and being in business is seeking after positions and success attributed to the established system, I now challenge us to color outside the lines and think beyond what has been traditionally taught.
What is Group Economics? Group Economics defined, is creating and exchanging resources (e.g., currency, talents, gifts, skills, goods and services) that a group deems valuable amongst another. It is time for the black community to pool our resources in order to produce community wealth.
In this and future blog posts, we will tackle and discuss the issue of economics and its impact in our community.
As best we can, we need to make a concerted effort to commit to making our hard-earned dollars work for us. As the largest consumers, if all we earn is spent outside of the community, how can we sustain? Even if you have left the community, or moved outside of the immediate area, visit and seize opportunities to give back. Be intentional.
The blog post this week is directed toward the consumers, yes, the customers. We have a tendency to be very hard on the merchants in our community. We place more stringent rules and guidelines for patronage on our local merchants than on the larger stores and mall merchants we often frequent.