Business
BAWSE Moves! CEO of The Mane Choice Creates a $300 Million Fund for Black Women

The past decade has seen a lot of people make entrepreneurs out of themselves often with just hope and a dream. Although “hope” and a “dream” are necessary for developing a business, funding for it is quite nearly the next important element.
During the last ten years, the amount of women entrepreneurs has increased exponentially, but the funding for their businesses has not. CEO of The Mane Choice, a natural hair care brand, Courtney Adeleye, has created a fund with $30 million of her own money to change that.

No stranger to what it means to be a woman entrepreneur Adeleye wrote on her Instagram page, “A few years ago I said on national television on the @iamsteveharveytv show…..that I was going to create as many female BAW$ES as I can,” and she is currently on her way to doing just that.
With her partnership with the beauty company, MAV Beauty Brands, Adeleye was able to create the Generational Advantage Fund which, according to its website, will focus on six areas: financial literacy, capital, mentorship, scholarships, resources and support, and housing.
The fund will attempt to bridge the wealth gap between women and men and promote generational wealth among women.
“Women have proven that they can start and sustain viable businesses, but there is still a gap in the funding and support they receive versus their male counterparts,” according to the Generational Advantage Fund website.
The Generational Advantage Fund is currently developing, but Adeleye has encouraged people to get involved via its website.
Business
Black Bread company launching in Chicago!
Meet the founders of @theblackbreadco the first ever black owned sliced bread company. Launching February 2021!

Meet the founders of @theblackbreadco the first ever black owned sliced bread company. Launching February 2021!
Business
New Black owned joint venture in Orland Park!
New Black owned joint venture in Orland Park! We love to hear about powerful Black brands collaborating. Check out the newest restaurant addition to Orland Park, Can’t Believe It’s Not Meat and Phlavz. Whether you are looking for soulful vegan food or amazing caribbean, this spot has it for you. We LOVE the energy of the young entrepreneurs who started this. Make sure you support!

Just in time for Gov. J.B. Pritzker’s area-wide ease of COVID-19 dine-in restrictions on restaurants, a trio of Black entrepreneurs are teaming up to bring a new vegan/jerk food concept to Orland Park.
Phil Simpson and Andrew Bonsu, co-owners of University Village-based restaurant Phlavz Bar & Grille (717 W. Maxwell St.), and Laricia Chandler Baker, the owner of Hyde Park vegan/vegetarian eatery Can’t Believe It’s Not Meat (1368 1/2 E. 53rd St.) plan to open a hybrid location (24 Orland Sq. Drive) at noon Saturday.
Separately, Bonsu and Simpson — who met while working various gigs in the music industry —and Baker were unknowingly searching for business locations in Orland Park before deciding to collaborate.

Foto Mack-Media
The trio says their businesses have “thrived” during the pandemic, inspiring the ideas of expansion.
“I think we always wanted to do things together,” said Bonsu, who’s eatery specializes in jerk food and drink options such as their signature drinks “Blacker the Berry” and “Phlavz Punch.”
“Growing up together [with Baker] we always wanted to do business but the timing of this showed itself; we said let’s do it together.”
And Baker, a self-taught chef who’s nicknamed “Chef Fab,” says the eatery will have separate kitchens to prepare food, while customers can utilize a shared dining space.
“We won’t be cross contaminating; we have one big building and Phil and Andrew will have their kitchen and I have mine, too,” said Baker, who went to Northern Illinois University with Bonsu. “The vegans can feel comfortable knowing that it’s one room, but two kitchens.”
Instead of bashing Pritzker and Mayor Lori Lightfoot for implementing restrictions tough on gig economy eateries, the trio decided to focus on the things they can control. And while so many businesses in the Chicago area have either downsized — or shuttered for good — the trio counts their blessings.
“We’re looking forward to expanding even more,” said Simpson. “It’s truly a blessing because we know that we survived. If we can survive this pandemic, we can survive anything.”

Shaun Michael Photo
This article has been reposted from The Chicago Sun Times
Business
All Coffee Drinkers Are Not Created Equally

As a business owner, one of the most important things that you can do for your business is to get to know your customer. This process should begin before the doors of the business open. When I say get to know your customer I mean really get to know them. You should be able to paint a descriptive picture of your ideal client.
As a coach and consultant for new and young businesses, a part of my process is to ask my clients “Who is your customer?”. How the client answers this question lets me know where we need to begin our work. The majority of the time new business owners will tell me things like “My customer is all women”. “My customer is anyone over 21 years old”. “My customer is everyone who has been heartbroken.” Each time I hear this I know that there is work to be done.
I like to start off with the coffee scenario. I am a coffee drinker. I like hazelnut coffee, with cream and sugar. Sounds simple enough, right? Well, let me break down for you why this is not as simple as it sounds.
When thinking of places that you can grab your morning coffee a few quick places come to my mind:
Starbucks
McDonald’s
7-11
Dunkin Donuts
I can get hazelnut coffee with cream and sugar from each of these places, however just because I can does not mean that I will. Let’s dissect what I mean.
Starbucks is a more expensive cup of coffee. I usually go there for the experience. I want someone to make my coffee for me, put it in a cup with a sleeve and a stirrer, allow me to pay with my mobile app, and call my name when it is ready. My order at Starbucks is $5.43.

McDonald’s is a quick fix. I can go through the drive-thru, order a medium coffee with two pumps of hazelnut syrup, 2 creams, and 2 sugars. They will whip that up for me right quick. No frills. My order at McDonald’s is $1.35.
7-11 is more of a grab and go. Here you make your own coffee, it’s set up buffet style. 7-11 offers a variety of coffee types and additives. Here you get it your way because you make it yourself. My order at 7-11 is about $1.09.
Dunkin Donuts is midrange. When I am in a neighborhood that has a drive-thru Dunkin Donuts I will go there. They have my hazelnut coffee beans, not syrup, and they add in something called a swirl which is cream and sugar premixed. My order at Dunkin’ is $2.49.
As you can see each of these places sells the coffee that I like and I can shop at either of them if need be. However, depending on what my preference is at the time I may choose to not visit one or more of them. There are some people who believe that it is absurd to buy a cup of coffee for $5.43 when you can get one for $1.09. Then there are others that would never drink coffee that is served buffet style with all those people breathing over the coffee.
This is why you must know who specifically your target customer is. When you know who your customer is, you know what appeals to them, how to get their attention, and how to speak to them. Spending time learning your customer will save you lots of time and money. Starbucks knows not to market to the frugal customer. That is not their customer and they are okay with that. You have to be okay with knowing that everyone isn’t your customer.

A word of advice is, you want to market yourself properly and position yourself so that the customer you want seeks you out and not the other way around. Take the time early on and figure out exactly who your target customer is
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