Category Archives: Business

The HBCUpreneur Corner – Tennessee State University’s Trina Morris & Style Root

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Name: Trina Morris

Alma Mater: Tennessee State University

Business Name & Description: Style Root Inc., a public relations and personal development consulting firm

What year did you found your company? Started as a freelancer (sole proprietor) in 2002 and officially launched as an incorporated business in 2005.

What was the most exciting and/or fearful moment during your HBCUpreneur career?

Exciting- Every time I saw one of my clients in the press (print, online or TV), I was over the moon! Every time I proved that my petite PR powerhouse could contend with the PR giants (via international clients, corporate sponsorships, national campaigns, etc.), I was beyond delighted. When I would see the images from events that I produced, I was truly proud. Doing PR is an art as much as a strategy for me, so my events were like live exhibitions ; )

Fearful- In 2009-10, when the recession hit hard. Across several industries, PR was “the last hired and the first fired.” Also when ‘Web 2.0’ launched with social media and the abyss of the blogosphere. Whether other PR pros will admit it or not, that immediately pulled the rug from under all of us. We had to learn Web 2.0, get on the other side of (this new way) and figure out how to make it ‘billable’- in spite of it being something the client could do for free/on their own. As a very small firm, I was stressed OUT. This was also amidst a print publishing collapse. Thus, my media services and contacts were in jeopardy and I was slowly melting.

What made you want to start your own company? Networking and exploring NYC provided me with loads of connections. These industry and creative professionals (rising and seasoned) wanted to build their brands in some way, but were too close (to them) to have an objective view and fresh positioning approach. Its like they were Style Root clients-in-waiting, so I knew starting my own firm was inevitable and fast-approaching ; )

Who was the most influential person/people for you during your time in college? My sophomore Resident Assistant (RA). Her style and charm were matchless, and I knew I could learn soo much from her. Our relationship evolved upon me joining her/our sorority, and I will forever refer to her as my ‘special’ sister.

TSU’s PR Director at the time. Once I realized that Public Relations was ‘the name of this mystery career’ I duly researched, I asked to volunteer in her on-campus office. She solidified my interest in PR, and was the catalyst for my decision to pursue my Masters degree (in PR).

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My English Professor (from hell) whose academic approach challenged me in a way I’d never been before. She made me analyze and express myself from a deeply authentic place, and defend myself in a way that has served me tremendously- as a female, black woman, intellectual and communications professional. In the end, I waved my white flag (in surrender) and she applauded my growth and talent. Turns out, she was God-sent ; )

How do you handle complex problems? To quote Nina Simone “Oh I’m just a soul whose intentions are good, Lord please don’t let me be misunderstood.”

Prayer, Yoga, Meditation, Tears, Counsel from my closest confidants, Inspirational Reading, Long Showers, Laughter, Wine- lol

What is something you wish you had known prior to starting your company? ‘Exit’ or let me say, ‘Growth’ Strategies- ones that are not purely professional, but also personal. When you are young and inspired, you dare think that you’d ever tire of the work you’re doing, or that things will change (for the bad or good). I wish someone had told me that it was not just okay to rebrand myself/business, but its necessary for long-term success. Internal and external influences must be factored in on a regular basis. OMG, I was sooo emotional about the whole process. Part of me felt like I was betraying myself/business/clients/industry, or claiming defeat. But thank God, today… I know better ; )

What do you believe HBCUs can do to spur more innovation and entrepreneurship while their students are in school either as undergraduate or graduate students? If I answer that, I will expose Style Root’s new product details prematurely. I’ll just say stay tuned for YouArePR, launching this Fall. Also this summer, I am hosting workshops (locally) which examine how to be #wholeselfemployed. My hope is to bring these unique solutions to HBCUs directly.

How do you deal with rejection? (Refer to my answer to the Question How do you handle complex problems?)And actually… I’ve gotten much better. As I’ve mentioned, the recession, Web 2.0 and my subsequent lifestyle changes were like my training grounds. I just recently re-tweeted PR veteran @TerrieWilliams who said, “Sometimes the bad things that happen in our lives put us directly on the path to the best things that will ever happen to us.” Its true. So to answer your question, I think rejection is simply the divine means to reception ; )

When you have down time how do you like to spend it? I have the biggest ‘auntie crush’ on my 1-yr old niece, so whenever I can hop on a plane (to the Midwest) to love her up… I do. As an entrepreneur, college professor and yoga instructor, I have a strict schedule and mainly live from a “To Do List”. Thus, I enjoy breaking up the monotony via travel- domestic or international. With others or solo. I’m definitely a beach bum, but when I can’t get there, I simply follow the sun and go on ‘staycation’ (a rooftop, park, backyard, spa, or hey… my stoop!). I also enjoy cooking. Researching and trying new recipes is my nerdland (s/o to @MHarrisPerry), and pop culture (media, fashion, music and art) will forever be a major source of inspiration.

What was your most memorable HBCU memory? Its soooo hard to just give one memory when you are a TSU alum!! All of our Greek Weeks were INSANELY entertaining (Skeeee weeeee!! to my Alpha Psi Sorors of Alpha Kappa Alpha Sorority Inc!!) and Homecoming was just BANANAS!! I was also on the Student Union Board of Governors (SUBG), which coordinated nearly all of the student activities throughout the year. So I could pick ANY of those events between 1996-2000… honestly, the prequel to my PR career ; )

In leaving is there any advice you have for budding HBCUpreneurs? Take personal development as seriously as professional development. Accept that you aren’t just good at one thing (and honor them as ‘transitional skills/talents’). Know your core values and deal-breakers. Volunteer. Slow down. Evolve. Do yoga ; )

Yahoo: The Cleveland Browns Of Technology

By William A. Foster, IV

“The brain is not an organ to be relied upon.” – Alexander Block

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Marrissa Meyer, the still fresh on the job CEO of Yahoo, is quoted as saying after the recent announcement that the company was going to purchase Tumblr, “we are not going to screw this up” essentially cementing what every investor and analyst already assumed. They will screw it up. Everyone will cheer for them to get it right and somehow in a very loveable Yahooish way – they will still screw it up even with the best of intentions. It has gotten to the point where they can almost not help themselves.

When I first started thinking about this article shortly after the deal was done a few feelings emerged. First, I had to get past my frustration but I will touch on that later. Second, I realized I was glad I was not a Yahoo investor (disclaimer coming at the end) because I am now convinced they might be cursed. Some part of me initially wanted to compare them to the Bad News Bears. The loveable losers with no talent but I realized that really is not Yahoo. Yahoo HAS talent. What it seems to lack is an inward compass. This acquisition of Tumblr is like bringing in brand new furniture and sitting it in the garage while the house is in the state of a renovation at worst or just being extremely junky at best. The fact that when the renovation or cleaning is done the furniture might not even fit into the house seems to have been whiffed by Yahoo.

So why is Yahoo like the Cleveland Browns? Quite simply, it has a storied history and for some reason despite what seems now like an eternity of losing season after losing season people still want them to turn it around. They want to see them get it right. They want to see them win. Yahoo and the Browns are original franchises in their respective industries. Honestly, I am not even real sure anymore just when the wheels fell off at either franchise nor can I remember the last time either did anything that made me feel like they just might be putting the wheels back on. Both seem notorious for bringing in talent and for whatever inexplicable reason that talent succumbs to the inordinately dysfunction. Since 2004, the Cleveland Browns have had 6 head coaches. Over the past 6 years, Yahoo has had 6 different CEOs at its helm. As I said they just can not seem to help themselves.

After Marrissa Mayer arrived at Yahoo from Google as a relatively unknown to most investors and analyst but well respected I had hopes she was going to be the Mike Tomlin hire, head coach of Pittsburgh Steelers. Tomlin was well respected within intimate football circles but had been a defensive coordinator for only one year before being pegged for the top spot in Pittsburgh. Much the same could be said for Marrissa Mayer who was well liked and respected within the Google ranks and intimate technology circles but a relatively unknown quantity and like Tomlin considered quite young  and inexperienced to tackle such a position when given the reigns. She started bringing in her own team with everyone assuming because she was from Google that she was going to get Yahoo back to its search roots – and by my own prayers clean up the garage sale that was Yahoo’s homepage. After all she was sitting on $5.4 billion in cash and in need of cleaning up what seemed like the debacle that never ends. Instead, she spends 20 percent of it on a Tumblr, which is a wonderful high-user company but has yet to turn a profit in its own right and more importantly still does not provide clarity to exactly what Yahoo is trying to be. Is Yahoo a media company? A search company?

Yahoo once had the greatest messenger service on the web. Well, maybe 1A beside AOL messenger. Most people I know used both. Yahoo took the lead as it began to dominate search, email, and quite frankly just cooler features via its messenger. Yet, somewhere the wheels just started falling off. The messenger stopped getting the love and updates it needed too. It poorly integrated Rocketmail into its fold (says a bitter former Rocketmail user) in 1997. Kicking off what seems to be a continued Yahoo weakness of strategic acquisitions and integrating acquisitions. Then the race to make the homepage have everything ensued. In fact, one could argue it was this chaotic homepage that Yahoo created that almost made Google’s meteoric rise possible. Instead of Yahoo allowing users to customized their homepage it gave them everything it had, whether the user wanted it or not and most did not. I believe Yahoo assumed it was making things easier by putting everything at your fingertips. Much to its own dismay it learned that was just not what people wanted. People want simplicity and they want control. Google makes users believe they are in control by the simplicity and that they can leave at any time when in actuality it is the exact opposite. They are in control because you can not get enough of believing you are in control. Call it SRPY or search reverse psychology. Personally, I love Yahoo! Finance and use it a lot. I also love their Yahoo! Travel and have used it numerous times for trips. You know what I do not want? Anything celebrity related. I simply do not care and in many ways turns me off from going to the website from the thought of even being bombarded by it. Unfortunately, where Yahoo could have been using the $5.4 billion to reinvigorate and reimagine the user experience it now must focus on not screwing up its new treasured asset.

For Marrissa Mayer’s sake I hope she can channel her inner Paul Brown but at this point I would settle for her inner Marty Schottenheimer. Otherwise, I might really believe the curse is real and not just suffering from bad decision making. Has anyone seen a billy goat walking around 701 First Avenue?

Disclaimer: There is no ownership of any of the companies mentioned in this article by myself, my business, or my family as of this article’s publishing.

The HBCUpreneur Corner – Winston-Salem State University’s Steven Gaither & HBCU Gameday

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Name: Steven J. Gaither

Alma Mater: Winston-Salem State University

Business Name & Description: HBCU Gameday. HBCU Gameday is a media outlet dedicated to the coverage of HBCU sports. Our mission is to provide HBCU students, alumni and supporters with a media outlet that offers timely news updates and in-depth analysis of sports that HBCUs rarely receive.

What year did you found your company? 2012

What was the most exciting and/or fearful moment during your HBCUpreneur career? Being retweeted by Roland Martin for our coverage of a shooting that took place involving a student-athlete last fall. It meant a lot for a respected journalist like Martin to drive traffic to our fledgling site.

What made you want to start your own company? I want to tell stories that matter to me and to people like me in a way that is engaging and truthful.

Who was the most influential person/people for you during your time in college? The most influential people for me in college were my peers. They were so driven to succeed that it made me go harder so I wouldn’t get left behind.

How do you handle complex problems? Contemplation and prayer.

What is something you wish you had known prior to starting your company? I wish I had realized about the need for this type of media earlier, so I could have been developing my contacts and been further along in the process of achieving my goal.

What do you believe HBCUs can do to spur more innovation and entrepreneurship while their students are in school either as undergraduate or graduate students? I think entrepreneurship should be pushed as an alternative to seeking employment.

How do you deal with rejection? I keep moving. On to the next story. On to the next project. On to the next opportunity.

When you have down time how do you like to spend it? I’m a social media addict, which is actually a good thing since social media interaction is a huge component of HBCU Gameday.

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What was your most memorable HBCU memory? My best HBCU memories are mostly related to the work I did with the student newspaper, The News Argus. I got to meet a lot of interesting people, go to new places and see some exciting games.

In leaving is there any advice you have for budding HBCUpreneurs? I know it sounds like a clichés, but do what you love. Pursue your passion. If you make it your business to do what you love, you can’t fail. External success may not come as quickly as you’d like, your passion will propel you to success.

The HBCUpreneur Corner – Prairie View A&M University’s Alysha Sample & Pearluxe

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Name: Alysha Sample

Alma Mater: Prairie View A&M University

Business Name & Description: Pearluxe / We specialize in custom made accessories & clothing that accentuate any ensemble and appeal to the chic urbanite.

What year did you found your company? 2011

What was the most exciting and/or fearful moment during your HBCUpreneur career? My most exciting moment would have to be making my first sale. It was an exhilarating experience to know that someone admired my creativity and wanted to have a custom piece made by me.

What made you want to start your own company? I started my own company because I simply wanted to be my own boss. I’ve always known that a regular 8-5 job was just not for me because I like to be on my own schedule. Since graduation, I have learned this even more. Starting Pearluxe, gave me an opportunity to do something that I love, and nothing warms my heart more that being able to share my designs and creations with the world.

Who was the most influential person/people for you during your time in college? I would have to say the most influential person to me during my time in college was my mother, Lisa Sample. She is such an inspiration. No matter what she was there with me every step of the way and I greatly appreciate her for all that she has done and continues to do.

How do you handle complex problems? I handle complex problems by identifying the root of the issue so I can have a clear view of what the problem is. Once that is established, I face it head on and begin actively working to resolve it. I never dwell on problems because they are only temporary and once addressed they will no longer have power over you.

What is something you wish you had known prior to starting your company? I wish I would have know more about the financial side of owning a business especially when it comes to the matters of the state, such as taxes. I learned a valuable lesson early on in my business and educated myself so that I wouldn’t be faced with any similar issues moving forward.

What do you believe HBCUs can do to spur more innovation and entrepreneurship while their students are in school either as undergraduate or graduate students? I believe more one-on-one meetings and fairs with entrepreneurs would be very valuable. As a Political Science major in college, I felt that those opportunities were primarily reserved for Business majors. I also believe that school wide entrepreneurship initiatives and endeavors would be quite beneficial because I don’t believe that a person will find true happiness in their career until they are doing something that they absolutely love.

How do you deal with rejection? Dealing with rejection is something that I’ve had to deal with a few times since I started my company. You have to have a tough skin. There will be obstacles on the path to success but you will definitely become a better person and business owner because of it.

When you have down time, how do you like to spend it? I like to spend my downtime traveling, exploring new places, spending time with family and friends, reading, and watching movies.

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What was your most memorable HBCU memory? I would have to say the year I traveled with my school to the 2009 SWAC Championship in Birmingham, AL where we WON. That was one of the best weekends of my college career because the school spirit was so high. It was such an honor to be able to enjoy that moment with my friends and classmates.

In leaving is there any advice you have for budding HBCUpreneurs? Please research the market that you would like enter and see exactly where your type of business would fit into it. You will also need determine how your business with stand out among the competition. Once that is done, make it happen. Time waits for no man so create your opportunity and watch yourself prosper. You will definitely be glad that you did!

Just How Much Is Apple’s $137 Billion Cash Pile (Updated)

By William A. Foster, IV

“Cash is king.” – Unknown

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It was last July that I first did this narrative. At the time Apple, Inc. was sitting on $117 billion and has since added another $20 billion to its coffers. This has stirred a mass of controversy amongst shareholders who believe the company is simply hoarding the cash that could be put to better use.

Let’s compare the amount of Apple’s cash holdings to a few things:

If divided over all 300 million men, women, and children in America – each would receive a check for $456.67.

If divided over the 40 million men, women, and children who are African American – each would receive a check for $3 425.00 (it should be noted that coming out of the Great Recession the African American median net worth was $2 170 according to the Economic Policy Institute).

It is 4.5 times the size of Harvard’s endowment (largest HWCU endowment and largest U.S. college endowment) and 297.8 times the size of Howard’s endowment (largest HBCU endowment). In July, those numbers for Harvard and Howard were 3.7 and 216.7 times their endowments, respectively.

It is 304.4 times the size of all HBCU research budgets combined. Previously, 265.9 times the size of HBCU research budgets.

It is 9.1 times the size of Jamaica’s GDP (previously 7.8 times) and 18.6 times the size Haiti’s GDP (previously 15.9).

It is 8.6% of Africa’s entire GDP (previously 6.2%).

This is not to take any particular shot at Apple. It just happens to be the company with the largest corporate cash holdings at the time. U.S. companies last year had a record $1.45 trillion in cash sitting outside of the U.S., according to Moody’s. It is 91% of the GDP of entire Africa and larger than the buying power of African America which is currently $1.1 trillion.

We’re talking “straight cash, homey” as Randy Moss said once.

Disclaimer: There is no ownership of any of the companies mentioned in this article by myself, my business, or my family as of this article’s publishing.