- 1 week ago
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LifestyleTranscript
01:00I do want to quickly remind you guys to stick around.
01:03We have our New Voices and Target Accelerators Pitch Competition coming up later on today.
01:09You'll get to see 10 Black women entrepreneurs pitch their business ideas for their chance
01:15at $100,000 in funding for their business.
01:21And speaking of Target, you know, I know for me, every time I go in Target, I feel like
01:25I see a new Black-owned brand on the shelves or a different one than I hadn't seen before.
01:30And so this next person that I'm going to be chatting with today, our next special guest
01:35has a lot to do with that.
01:38She is the Chief Diversity and Inclusion Officer and Vice President of Human Resources at Target
01:44Corporation.
01:45Excuse me, let me run that back so we get it right.
01:47She is the Chief Diversity, Culture, and Inclusion Officer and Vice President of Human Resources
01:53at the Target Corporation.
01:54And she is also a top executive in corporate diversity.
02:00And she is also a member of the Talladega College Board of Trustees, the Intersectionality,
02:05Culture, and Diversity Advisory Board for Twitter, and co-chair of the Retail Industry Leaders
02:10Association Diversity and Inclusion Initiative.
02:13Everyone, please give a warm welcome.
02:15She's already here, but Ms. Caroline Wenga.
02:18Hi, Caroline.
02:23We love this hoodie, right?
02:25If you could hear them, they would be-
02:26Yes, we do.
02:29Humanizedmyhoodie.com.
02:31All right.
02:32So today we're going to be talking all about the role that organizational culture plays in
02:37helping businesses to kind of get through some of the things that we're going through with
02:41this crisis.
02:43And so when we think about organizational culture, I know for me and for sure for
02:48a few business owners, whether small business or just Black-owned businesses in general,
02:53a few things come to mind.
02:54So to start, can you kind of speak to which element of organizational culture you found
02:59it most important to focus on during this time?
03:03Yeah.
03:03I mean, before I share that, there's two things that I really need to do.
03:07The first of all is thank Essence for the invitation and having the audacity to continue
03:13to equip Black people to be superior.
03:15Second is I have the privilege today of coming to tell the story of a company of 350,000 people.
03:22I am honored to be able to be the storyteller, but I would not be doing it any justice if
03:27I wasn't honest about the fact that they're the story makers.
03:30And so I am honored to be their storyteller and believe this team is phenomenal.
03:36Here's what I would tell you about culture that's really important to know.
03:39And it's not lost on me that the scale and size of Target as a eighth largest employer
03:45in the country, billion, billion dollar businesses, tons of stores can create the image that what
03:52we talk about doing from a business perspective may not be applicable if you're a smaller business.
03:58And it's not lost on me that that could be there.
04:00What I would offer to you is a way to listen to what I'm going to share today to find what
04:04within it can help you with your business.
04:06And the way that I would frame that up for you, big companies do big things, yep.
04:11Smaller companies do their thing, yep.
04:14But what's common between the two of us is we make decisions and we serve people.
04:19And so listen to it through the lens of that.
04:21And then the second piece I'd ask you to listen through it from is culture, the way that I'm
04:26going to explain it, is an ongoing, ever-changing support of your business strategy.
04:32A strong, consistent culture allows you to be able to survive the different changes in climate.
04:39Climate is what we're going through right now as we're going through COVID.
04:42So understand that I'm talking about cultures of survival too for climate.
04:47So when I talk about culture for the sake of today, I'm talking about what a purpose is of
04:51the organization, what they value and how they behave, because the culture is the
04:55collective behavior of the organization that brings an organization's purpose to life and
04:59is the filter for decisions.
05:01It is what gives you confidence.
05:02It's what anchors you and where you need to go.
05:05And it's what helps you come in and out of moments like this stronger than you ever were before.
05:12Thank you for that definition.
05:13I mean, it really helps, I think, to center our conversation today and really just give
05:17the audience and specifically the business owners in our audience a really good idea of
05:22what it is the focus should be, what that means, and how to really delve into that in a way
05:27that can help them.
05:28So in times like this, I think that for business owners and otherwise, it can unintentionally
05:36kind of show us spaces that we've become too comfortable in and we're so attached to our
05:40routines and the way that we do things.
05:42And from thinking that we get to go to the grocery store whenever we want or go outside whenever
05:47we want, you know, things that we just, now we have to kind of adapt and change.
05:51So what are some of the ways that being so comfortable in a certain routine when it comes
05:57to an organizational culture can kind of cripple a small business?
06:00And then what tips can you give to business owners that they can take to better adapt to that,
06:06to kind of get in front of that so it doesn't happen in the future?
06:10Yeah, I would offer you just a couple of thoughts on that one.
06:13The first one is, as you heard me share, you have a business strategy as a company
06:18and your business strategy should always be fueled by the culture that you've set.
06:22Remember, purpose, values, behaviors that you as an organization set at when you come to be.
06:29Most of you guys as business owners are probably really familiar with continuing to refresh your
06:33strategy based on what's happening with the consumer you want to sell to.
06:36Where some organizations need to give equal energy is evolving your cultural expectations
06:41in alignment with your strategic platform.
06:44If you continue to push your strategy forward and don't bring your culture up to date with it,
06:49you will eventually find yourself where your profits aren't playing out the right way from purpose.
06:54But we've got data out there that says 79% of consumers said that they're more loyal to purpose-focused brands.
07:0067% say they're more willing to forgive such a company if it gets into a blind place.
07:0584% of executives believe that organizations with a shared purpose
07:08are the ones that are going to be able to continue to make more money.
07:12And so as you think about like just kind of being complacent,
07:15your role is to make sure that when you opened your business,
07:18whenever you opened it and you set forth what your purpose was
07:21and what you believed and how you want people to behave,
07:23and you set what you want your business strategy to be,
07:26are they still aligned today?
07:28If they're not, do that work.
07:30Because simply making money is not what's separating businesses these days.
07:34It's how they make money, who they make money with,
07:36and how they're supporting more stakeholders than just their shareholders.
07:40And so that is the advice that I would give.
07:42Culture fuel strategy should be as up to date as your business strategy is,
07:46and it should evolve in the same way.
07:48If it doesn't, the dissonance could render you irrelevant.
07:53Wow.
07:53That's so, it's such succinct advice that people can really take it and walk away with it,
07:57but it's also super detailed so that you really, you know, understand what it is that's on the line here.
08:03So I like how you did that.
08:04Appreciate that.
08:05And it sounds like you were tapping a little bit into,
08:08and please correct me if I'm wrong,
08:12you know, not getting back to the reason that you started your business
08:16and remembering that, remembering that purpose, that foundation,
08:18and carrying that through into how you set up or how you run it,
08:22even how you adapt your organizational culture.
08:25Because I think, you know, it can be simple to not forget,
08:29but maybe lose sight of for a little bit why you started,
08:34what that purpose was, what that mission was,
08:36and what you set out to do in the beginning when you, you know, started your business.
08:41Yeah.
08:42I mean, I think it's there.
08:44It's there.
08:44And it's what helps you when you get into crisis.
08:46When you're in crisis, it's not the time to define your purpose.
08:49When you're in crisis, it's not the time to implement values.
08:52When you're in crisis, it's not the time to try to manage behavior
08:54because those things should be embedded enough
08:56to where they automatically play out.
08:59And that's what target experience, right?
09:01So as we're all living in this COVID moment,
09:03what we believe in all families discover the joy of everyday life.
09:07We have values related to inspiration, inclusivity,
09:10drive, optimism, and connection.
09:13And we've got behaviors that align to that.
09:15That piece being there meant that when the crisis of COVID hit,
09:19we could make quick, nimble decisions
09:22on what we needed to do in the current climate
09:24because our culture was solid.
09:26So without that, we can't make a decision
09:28to spend up to $300 million investing in our team
09:33for higher wages, giving bonuses.
09:36We wouldn't have been able to as quickly decide
09:39that we wanted to give backup daycare,
09:41that we wanted to ensure that over 65 people
09:43with underlying conditions, pregnant women,
09:45were able to take leave.
09:47We wouldn't be able to make sure
09:48that we have other right resources
09:50for people to survive in this.
09:51If our culture wasn't based well
09:53as a filter for decision-making,
09:55then we would have been in a place
09:56where half of what we've been able to do
09:58wouldn't be possible
09:58because we'd be arguing about what we believe
10:00and what's most important in this moment,
10:02which isn't productive for those that are impacted by it.
10:07That's a little bit of life advice as well, too.
10:09Have it in place.
10:10Essentially, stay ready so you don't have to get ready.
10:13Don't try to, you know,
10:14I mean, it's that simple.
10:16That's what I'm hearing.
10:18Or don't.
10:18I love that.
10:19Or don't.
10:19Or don't.
10:20And don't be surprised when you are where you are
10:24because you didn't take that advice.
10:26I love it.
10:27And it kind of leads into our next question,
10:29which you kind of addressed,
10:30which was how has the organizational culture
10:33that's already been implemented at Target
10:35helped to sustain you guys
10:37through this phase of COVID-19?
10:38You talked about some of the things
10:40that you guys were able to put in place
10:42for your organization,
10:44for your employees,
10:45also for consumers.
10:46Was there anything else
10:47that you wanted to expand on with that?
10:49Or were there some additional things
10:50that you guys have done
10:52that has helped sustain
10:53and is kind of helping you
10:55to continue sustaining during this pandemic?
10:58Two points I would just add
11:00to what I said previously.
11:01The first of those is
11:02even though we have had a culture
11:04that has continued to evolve
11:05with our business strategy,
11:07the crisis moment pressure tested
11:09how strong our cultural values are,
11:13how anchored they are.
11:14And what we found out
11:15in this first phase is
11:16there's a lot of stuff
11:18that we've been saying we believe
11:19that just started to happen
11:21in a way that was really,
11:22really confident building
11:24in terms of this is what we believe.
11:26Efficiency and decision making,
11:28putting our team and our guests first,
11:31making sure our team is just as safe
11:33as we want our guests to feel
11:34when we are looking to serve them.
11:37And so those are the kinds of things
11:39that as we went through this,
11:40we saw decision making
11:42get given away appropriately.
11:44Those that did not need to be in decisions
11:45needed to get out of the way.
11:47We needed to trust the subject matter experts
11:49to guide us.
11:50We focused on our core business,
11:51which is about serving our guests.
11:53We fought to stay open
11:55so that we were accessible
11:56for the needs that people would have here.
11:58And all of those things
12:00came through the filter of our purpose
12:01of helping our families discover
12:03the joy of everyday life,
12:05a set of values tied to inclusivity
12:07and other things.
12:08And our desire to continue
12:10to give people a shopping experience
12:12that is easy,
12:14but also makes them feel welcome,
12:16that rewards them and inspires them.
12:18And even in a crisis,
12:19we're still able to deliver on that
12:21because it's in our cultural DNA.
12:23And so all the decisions that we made,
12:2510 million going out to communities
12:27and different organizations
12:28to help with relief
12:29were decisions that were made really fast
12:31because nobody was arguing
12:32about what we believe
12:33and everybody was using
12:34the same framework
12:35to make their decisions.
12:37And if you disagree,
12:38consult the framework.
12:39Don't confront the person.
12:44No, that's great advice as well.
12:47And so unfortunately,
12:48you know, we're in the middle of phase one,
12:51essentially of the COVID-19 pandemic now.
12:53And we're seeing that there will likely
12:56or could possibly be a phase two.
12:58And I think if nothing else,
13:01a lot of business owners are learning,
13:03you know, kind of learning what not to do
13:06or what they maybe would do different
13:08should something like this,
13:09God forbid, come around again,
13:10or I mean, even in a less drastic version.
13:14So can you speak to some of the things
13:15that small business owners can do
13:17to kind of get ready
13:19and get better prepared
13:20for what could be phase two
13:21of this COVID-19 pandemic?
13:25Yeah, I mean, I would give
13:26just a couple of things
13:27that apply no matter
13:28what size your business is.
13:29The first one is,
13:31and I've heard a lot of other speakers
13:32say it today,
13:33if you are assuming
13:34that we come out
13:36on the other side of this crisis
13:37and go back to who we were
13:39before this crisis,
13:40that's a limited mindset.
13:43This isn't just about
13:45what the crisis will create.
13:46This is about the new ways of working,
13:48the new way of business operating
13:50that is about a reset,
13:52not a restart, right?
13:54That is about reimagining
13:55what the future is going to look like.
13:56So do you have a business
13:58that has capacity for agility?
14:00Are you running a business
14:01that's so overflowing
14:02from a team resources,
14:04financial resources,
14:05that you don't even have the capacity
14:07to think about how to pivot
14:08and serve what might be
14:09the current needs?
14:10Do you understand the difference
14:12in the sentiment
14:13of the consumer that you serve?
14:15So they might have been thinking
14:16one thing prior
14:17to this particular crisis.
14:20They probably won't be thinking
14:21the same way about that afterwards.
14:23There'll be everything happening
14:24as we come out of this
14:25from shopping behavior
14:26to grief and mourning
14:28to PTSD.
14:29And if you start to market
14:30to that audience
14:31as if they were before,
14:32you'll look tone deaf
14:33versus reframing
14:35who your business is
14:37through the lens of
14:37who's going to be
14:38on the other side of this.
14:39Are you tracking
14:40where the money's going?
14:41Did you try to do some selling
14:42when the stimulus checks came out?
14:44If you didn't try to do some selling
14:46when the stimulus checks came out,
14:48then you missed an opportunity.
14:49Are you tracking
14:50how those kinds of things
14:51are happening
14:51and strategically getting yourself
14:54involved in those moments
14:56at this kind of iterative rate
14:58as we're managing
14:58within this crisis?
15:00And then the last piece
15:00that I will say
15:01that would be for me
15:02of highest importance
15:03for small businesses,
15:05you have to diversify
15:06your business model.
15:07If your business model
15:08is dependent on
15:09one really large consumer group
15:11or one large vendor partner,
15:13target,
15:13or other things
15:14where they're just
15:15such a heavy percent
15:16of how you're delivering
15:17your business,
15:18you are vulnerable.
15:19Because that means
15:20your entire business
15:21is dependent upon
15:22if they exist
15:23and they got to make decisions
15:24aligned with their purpose.
15:26So how are you diversifying
15:27the way in which
15:28you are doing your business
15:29so that when one business
15:32partnering with you
15:32can't do what they're supposed to do,
15:34you're not crippled.
15:35But you got to make capacity
15:36for that kind of agility.
15:38You got to make capacity
15:39for staying socially aware
15:40of what's happening
15:41minute to minute,
15:42moment to moment, right?
15:44And then you have to be able
15:45to ask your consumer
15:46what do they need now,
15:48not assuming what they needed
15:49yesterday is what they need today.
15:51And then deliver, deliver.
15:52People are going to be at home.
15:53Ship it.
15:54If you can't ship it,
15:55I'm not sure how you're going
15:56to survive on the long term.
15:59Yeah.
16:00Now, we'll have quite a few,
16:02I think,
16:02small business owners
16:03or people who are just now
16:05getting started
16:06as entrepreneurs
16:07who are tuning in today,
16:08I would assume.
16:10And so I feel like
16:10I would be remiss
16:11if I didn't ask you,
16:12you kind of have
16:14a two-part
16:15and a massive role
16:17that you play at Target.
16:18You're on one side,
16:19you're chief diversity,
16:21culture,
16:21and inclusion officer,
16:22and then you're also
16:23VP of human resources.
16:25So when you talk about things
16:26like diversifying your business
16:27for young entrepreneurs
16:29who are just starting out,
16:31what advice would you have
16:33to kind of take
16:34those type of steps
16:35in this type of climate
16:37where that may not
16:39have been something
16:40that they thought about?
16:41Or again,
16:42if they're approaching phase two
16:43and they realize
16:45that they didn't do it
16:46in phase one
16:46and now they want to be prepared
16:47for phase two.
16:48So what,
16:49I guess,
16:49what tips could you give
16:50just based on your experience
16:52in your role at Target?
16:55Yeah,
16:56there's a couple of pieces
16:57that I would share.
16:58The first of them are,
17:00we all know why
17:01entrepreneurship
17:02is a fantastic opportunity
17:04for everybody.
17:06But if you're in a place
17:07of crisis
17:07or after the crisis,
17:09you can accidentally
17:10end up competing
17:11with businesses
17:11that look just like yours
17:13with the same partners.
17:15And so,
17:15and one of the speakers
17:16earlier today said this,
17:17where are the creative
17:18opportunities for collaboration?
17:20So that,
17:21for example,
17:21if you're going to be coming
17:22to Target to say,
17:23hey, Target,
17:23I would love to do
17:24some things with you.
17:25I've got this product
17:26that may serve your needs
17:27in the midst of this crisis.
17:29And we're looking at you,
17:30but this other Black business
17:31that looks just like you
17:32is asking us the same thing.
17:34We're only going to pick one.
17:35Instead,
17:37if you know you have
17:38like size,
17:39you have similar partners
17:41that are Black entrepreneurs
17:42that deliver a product
17:44that collectively
17:45the two of you can do well,
17:46what would it look like
17:47to approach Target together?
17:49So that you're kind of
17:50getting the best of both
17:52versus one getting
17:53and one not getting.
17:55And going back
17:55to what I said
17:56about purpose and values,
17:58align with partners
17:59that align to your values.
18:01Because then in crisis,
18:02you'll probably stay aligned.
18:03If you did it for the money
18:05and you know good and well,
18:07your alignment to that partner
18:08was only for the money,
18:09then you're going to see
18:10how strong that partnership is
18:11when you are in a moment like this
18:13and they're nowhere to be found
18:14and go silent on you.
18:15The second piece I would just say is
18:17continue to think about
18:19how you create capacity for agility.
18:22Make room for creativity.
18:24Make room to make
18:25your entrepreneurship summit virtual, right?
18:28Make room to be able
18:29to talk to people differently
18:30about how you can serve them
18:32and keep the most important
18:33question in mind,
18:34which is instead of telling people
18:36what you want them to buy,
18:38ask them what they need to survive
18:39and provide what you can.
18:43I hope you guys are taking notes
18:45because Carolyn is dropping gems here today.
18:48And, you know,
18:50thank you so much for all of this.
18:52I think one more thing
18:54that I do want to touch on,
18:55as I mentioned in the beginning,
18:56we have our new voices
18:58and target accelerators
18:59pitch competition coming up.
19:01It's so exciting.
19:03We also partnered with you guys,
19:04I know,
19:04for our Entrepreneur Summit
19:06back in December in Atlanta
19:07and you guys were a part of that.
19:10And so I want to hear from you,
19:12I guess,
19:12on a personal note,
19:13what excites you most about,
19:14you know,
19:15getting to be a part of,
19:16helping to bring this to life
19:18and being able to see,
19:19you know,
19:20these women of color entrepreneurs
19:21kind of bring their business
19:23front and center,
19:25pitch it,
19:26and, you know,
19:27use that user platform
19:28to take their,
19:30I guess,
19:30their business idea
19:31to the next level.
19:32What are you most excited to see
19:34with the pitch competition
19:35that's coming today?
19:37Here's what I'm excited to see
19:39with the fact
19:39that a pitch competition
19:40for women of color exists.
19:41Like,
19:41let's actually just talk about that
19:43in and of itself, right?
19:44And here's what I would say,
19:46and those that know me really well
19:47have heard me talk about this a lot.
19:49Part of what the transatlantic slave trade
19:52did to us
19:53is it rewrote history
19:56and made it sound like history started
19:58when that journey
20:01that landed all over the world started.
20:03And what happened is
20:04we ended up forgetting
20:06that we were royalty kings and queens
20:08dominating before that moment.
20:11We forgot to tell people,
20:12we've stopped telling people
20:14who we were
20:15before the disruption
20:16of the transatlantic slave trade.
20:18And we have operated
20:19that interrupted
20:20for a really long time.
20:22And I'm not blaming us.
20:23I'm just telling the truth
20:24of what the psychology is.
20:26So my personal passion is
20:28none of us need pity.
20:31None of us need help.
20:32All we need is a reminder
20:34that we were great anyway.
20:37An intentional discussion
20:39around what disrupted that
20:40so that we can go back
20:42and find it
20:42and manifest the greatness
20:43that's already ours to have.
20:45And so when I look at something
20:46like the pitch competition,
20:48I go,
20:49that's what I'm talking about
20:50because you already were good
20:52and now you got some money.
20:55Go take over the world.
20:56Right?
20:57And what starts to happen
20:59as we see more of that is
21:00now the five-year-old little girl
21:02in kindergarten
21:02is looking at Melissa
21:05at Lip Bar
21:06and be at Honey Pie.
21:09Right?
21:10And going,
21:11oh my God,
21:12I could be a business owner.
21:13And if you don't have
21:15the amount of respect
21:16for what generational curse
21:18disruption that does,
21:20like move,
21:21give your chair to somebody else
21:22because we are going to disrupt
21:24the generational curse
21:25of the lie
21:26that we started
21:28when we were enslaved.
21:29We were a whole lot
21:30of stuff before that.
21:31That was a moment.
21:32We still have that in us.
21:34People like what we're doing here
21:35at Essence
21:36is intended to refuel you
21:38and help you function uninterrupted
21:40so we can take over the world.
21:42And like,
21:43you might think I'm crazy,
21:44but I'll see you
21:44when you get there.
21:46Right?
21:46And at the end of the day,
21:47our whole role
21:48is to help each other.
21:49And so I would close with
21:50take notes,
21:52do it better.
21:54Mm-hmm.
21:55Yep, yep, yep.
21:56And I think one of the things
21:57that I love about the competition too
21:58is that you are kind of enlightened
22:02and kind of informed
22:04about the fact
22:04that there's not one type of,
22:06like every Black,
22:07every woman of color
22:08or Black woman entrepreneur
22:09is not just a beauty entrepreneur
22:11or not just a clothing designer
22:13or not just,
22:14you know,
22:14there's,
22:15we have Black women entrepreneurs
22:17in manufacturing
22:18and software
22:19and bedding
22:20and the medical field.
22:21Like there's so many different
22:22routes that you could take.
22:23Really any route
22:24that you want to take
22:25is the biggest takeaway
22:26for me.
22:28And so thank you
22:29for sharing that
22:31and thank you
22:32for joining us today,
22:33of course.
22:34Before we wrap,
22:35I did want to quickly
22:37ask you
22:37to let everybody know
22:38where they can find you
22:39on social
22:40and then also
22:41if there's anything
22:42that you have coming up,
22:43anything that Target
22:43has going on
22:44that people should know about
22:45and can support,
22:46let us know.
22:49So,
22:50at Wonga Woman,
22:51my last name
22:52and the word woman,
22:53Twitter,
22:55IG,
22:56LinkedIn,
22:57or LinkedIn,
22:57it's Caroline Wonga,
22:58but everywhere else
22:58is at Wonga Woman.
23:01You know,
23:01here,
23:02I appreciate the question
23:03about what I have going on.
23:04I'm going to decline
23:05to answer it,
23:06but I'm going to tell you
23:06two things.
23:08Go shop at Target
23:09because we have team members
23:11that are continuing to serve
23:12and that doesn't mean
23:13you can't shop
23:14in other places
23:15but we are open
23:17so that you can continue
23:18to survive
23:19in the midst of this.
23:20And then number two,
23:22stop ignoring your greatness.
23:25Go get a purpose
23:26you were going to deliver
23:27in this world.
23:28Believe you're fully equipped
23:29to do it.
23:30Black folks can help themselves
23:31be successful
23:32and we can start
23:33to disrupt
23:34the generational lie
23:35that we are nothing more
23:37than slaves
23:38who will never be nothing
23:39versus the royalty
23:41we were born to be
23:42and we need to step back into.
23:43Do those things
23:44and I will be happy.
23:47I lied.
23:48I have another question.
23:49Can we talk to you
23:49for like another hour?
23:51Like,
23:51is that,
23:52because we need more
23:52of this.
23:53I mean,
23:54I'm going to start eating
23:56in a minute.
23:56Look,
23:56I'm going to eat
23:57some sign-patch kids
23:58if y'all don't keep me here.
23:59You see what I'm saying?
24:01You can't have me hangry.
24:04Thank you so much,
24:05Caroline.
24:06And,
24:06you know,
24:07thank you for all the work
24:08that you guys are doing
24:09at Target.
24:10Like I said,
24:10I mean that
24:11when I said I go in Target
24:12and I see another
24:14Black-owned brand
24:15on the shelf,
24:16a new one,
24:17just about every time
24:17I go in Target,
24:18I discover new ones
24:19in different parts.
24:20So thank you guys
24:21for the work you're doing.
24:21Thank you for the work
24:22that you specifically
24:23are doing.
24:25You know,
24:25representation
24:26is so important
24:27and to see you
24:29kind of killing it
24:30in this top position
24:32at Target
24:32is very inspiring
24:33and I think
24:34that it's going to,
24:36you know,
24:36mean a lot
24:37for a lot of the folks
24:38who are watching,
24:39a lot of the entrepreneurs
24:39and future entrepreneurs.
24:41So thank you so much
24:42for joining us today.
24:44And for all of you guys
24:45who are tuned in,
24:46once again,
24:47please be sure
24:48to tune in
24:49for our pitch competition today.
24:52It's the $100,000
24:53New Voices
24:54and Target Accelerators
24:56pitch competition.
24:57Hope you guys
24:58come back for that
24:59and also just stick around.
25:00We have a few more panels
25:02in store
25:02that you guys
25:03really are not going
25:04to want to miss.
25:05And so we will
25:08see you soon.
25:10The idea was
25:24we would take
25:25the wealth
25:26that we had created
25:27in our Sundial
25:28Shea Moisture business
25:29and we would invest
25:31that wealth
25:31directly back
25:33into Black women
25:34entrepreneurs
25:35within our communities.
25:36today we've invested
25:48in over 50
25:49Black women-owned businesses.
25:51I'm excited
25:52and proud
25:53to announce
25:54that for our
25:55seventh one here
25:56we now have
25:57another
25:5810
26:00new investments.
26:03And so I'd now like
26:03to announce
26:04our 10 winners.
26:13Congratulations
26:13and we're so impressed
26:16with your business.
26:17We're so moved
26:19by the intentionality
26:21and you know
26:23the pillar
26:23in our communities
26:24has been our churches.
26:26And to have somebody
26:27thinking about
26:27how we can make them
26:29stronger financially
26:30is very important.
26:31so we're going
26:32to invest
26:32another $5,000.
26:39So congratulations.
26:40How are you doing?
26:41Congratulations.
26:42Congratulations.
27:11Bye.
27:11It was so much fun making a Popsicle recipe, designing a recipe card, and being able to
27:39try them ourselves.
27:40I'm working on a book called Be Fearless.
27:43It's going to give some advice that I've learned over 10 years of being an entrepreneur.
27:49With our collaborator, you can share docs so we can work together and make sure everything's
27:54up to date.
27:55I hope the book is going to make a measurable impact on Saving the Bees, but also encourage
27:59social entrepreneurship at the same time.
28:04Legacy is something I never thought about having.
28:09And then once you get it, it's harder to keep it, I believe, than it is to get it.
28:16Wow.
28:18So, oh, I do have a word, but man, I'm thinking about it.
28:23Protection.
28:24Because you have to protect your legacy once you create one.
28:27How are you protecting your legacy now?
28:29A lot of different ways.
28:31It's not just like, you know, I mean, really protect it.
28:33You know, the people that work for you, the people that you hire, the people that speak
28:37for you, the people that just represent you.
28:41So, after you get to a certain point, you have to let them know that they're representing your
28:47legacy, not just you, you know, so they can't go out here and do, you know, whatever they
28:52want that we was probably doing prior because now people look at us a certain way and they
28:58want us to, you know, they hold us accountable to certain things.
29:01And now you as a person that works for me or a person that's involved with me, you have
29:07to carry yourself as such or you're not representing my legacy.
29:14We as women pour so much out to everyone else.
29:18It is like absolutely essential that we make time for ourselves.
29:22I've also learned to calendar the things that matter.
29:26So, I'm really setting more boundaries so that I have more peace because for me that
29:30allows tranquility in the household.
29:37So, let's take care.
29:50.
30:01.
30:02society tries to tear us apart and pits us against each other but when we work
30:16together we do some pretty amazing things so empowering to see other black
30:22women really chart their own territories and a lot of times people will walk it
30:29or they'll talk the talk but shame moisture is actually walking that talk
30:33and the reality is that they look just like us and they're investing in many of you have lost loved
30:52ones or people in your community the kovat 19 we salute and support all of the first responders
30:58healthcare professionals and essential workers black people especially have been hit really hard
31:04in this time hopefully we can provide you with some information that can help us get through this
31:09troubled time and lead us on to better horizons outside of health another major way this virus
31:15has affected us is our wallet that's right in our pockets with the global economy coming to a
31:20screeching halt we're now living in unprecedented times and people are hurting businesses are hurting
31:25people have lost their jobs and small businesses are hurting now as you all may know the government
31:30enacted a three trillion dollar stimulus plan to help out the economy and of this three trillion
31:37dollars 600 billion of it is for small and medium businesses african-americans are the fastest growing
31:44entrepreneurs the question is how do you access those funds well we are here to help you with that
31:50if you're a black business owner and you have fewer than 500 employees i don't care if you're in a
31:55barber shop a nail salon a dentist's office a car wash a juice bar if you own a business like that
32:02this money is earmarked for you the time to act has never been more important and the clock is ticking
32:08because once that money is swept up it's gone and it's never coming back so what do you do well
32:14first off it's important to know that when you do apply for the stimulus loan there is no collateral
32:19or personal guarantees necessary the loan gets wiped you heard him right the loan gets wiped out
32:26but only if you keep all your workers employed you also need to know you can only use that money to
32:31keep your lights on pay your employees etc so keep the paperwork please keep that paperwork it's important
32:38and that paperwork better said before february 15th 2020 because y'all know now here's the good part
32:46we have the plug to get your application completed at no cost to you use up serve if you're a restaurant
32:51owner use quick base for all of the businesses log on to quickbase.com to determine your eligibility
32:57assemble your documentation and find the right lender for you now is the time to be the change
33:04and do your part okay so what are you waiting for click the link below and follow the steps listed
33:09to get your money don't hesitate act now go to the website and apply quickbase.com
33:15in this crisis we've already lost too much we can't afford losing your business too
33:21our communities need you now more than ever this is not a slam dunk this pandemic has really affected
33:27all of us but there's a three-pointer at the buzzer you can make this shot but you have to do it together
33:33and we're here to help
34:03so the new voices fund
34:31fund was created to ensure economic opportunities and inclusion for women of color we have so many
34:44women out out in the world building businesses trying to create a better life for themselves and
34:50for their children and their families and their communities with very little support of every
34:57dollar that's invested in entrepreneurs black women receive something like 0.003 cents it starts to show
35:06with some scale what can happen when you give these women the opportunities that they deserve and so
35:16that's that's that's the mission of the new voices fund that's why i was founded
35:21so
35:29got
35:51You
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