FROM PURPOSE TO STRATEGY AND IMPLEMENTATION DRAFT FOR DISCUSSION PURPOSES ONLY
START SMALL 2020 Breakthrough: Incremental
SCALE FAST 2022 Breakthrough: Substantial
THINK BIG 2024 Breakthrough: Transformational
VISION SNAPSHOTS
WEALTH BUILDING OPPORTUNITIES
Complete understanding, thought leadership and expertise on Wealth building, inequities, disparities and their drivers (compensation, real estate, entrepreneurship, investments, etc)
• Established relationships with VCs, PE rms and capital / investment banking • Competitive educational, training, wealth building and growth opportunities outside of conference
Convene, inform and equip accelerators of Black Wealth
What is our CURRENT STATE - 2019
What THINK BIG looks like
• Nonexistent other than SCALE UP • Have a gap here
• NBMBAA has a $10M VC fund • 5 programs within the entrepreneurship channel and scale up prize at $250K • NBMBAA partners with major nancial institutions to aid in funding businesses • NBMBAA has supported and grown a cohort of entrepreneurs from SCALE UP to w/network of VC, PE • NBMBAA has provided access and opportunities for retail product or service placements with established businesses
• Assisted 3 entrepreneurs(winners) through SCALE UP • Only in the event space (SCALE UP pitch challenge) • Need more expertise in wealth creation and some outside of the box thinking. • Q: In terms of wealth building, we are not close to our goal • Don’t have the capital in uence yet still not moving the needle • I think we can de nitely do more to o er real estate opportunities.
CRITICAL INITIATIVES
2020 • Inventory, evaluate and prioritize net worth resources and develop programs and campaign to get them to members • Develop compensation disparity task force and implement improvement recommendations through members • Pilot focused e ort on select members to grow their net worth and implement ndings in future cohorts / scales (consider di erent member pro le cohorts – eg, new professionals, entrepreneurs, experienced professionals) • Mobilize corporate and aliate partners and engage in developing focused initiatives and programs (for example, JP Morgan, Atlanta Wealth Building, etc.) • Expand and re-imagine Scale-Up as part of Entrepreneurial Institute (consider rebranding); leverage and convene chapters best entrepreneurial events and experiences. • De ne accelerators of black wealth • Pilot o ering for students to move them from debt to wealth and then deploy more broadly
2022 • Create Venture Capital / Private
2024 • Create and
Headline Indicators • Wealth Building Opportunities - # of New Businesses - Members’ Compensation increased through programming • Member Average Net Worth Gain (per member reported) • % of Members as business owners
Execute Wealth Building Conference
Equity Engagement Initiative (consider for 2024) • Launch Wealth Building Symposiums focused on education and awareness with a bias for action oriented takeaways (start in chapters with vision of a national conference with similar strategy of career conference) • Develop member o ering on housing and real estate development support for wealth building'
leveraging current career conference success
Planned for 2019-2020 • Empowering Entrepreneurs Initiative • Extending Expo in 2020 to include diversity suppliers • Wealth building sessions at conference 2020 ($12K)
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