I was working on a creating a spreadsheet of black professional organizations that would be my target for a political crowdfunding campaign that is a collaboration between Lynn P and her crowdfunding portals and WeCycl, Inc my crowdfunding and digital marketing company. I was entering data when I was hit with an epiphany. Black professional organizations leading the charge to economic and political empowerment not only through education, but through crowdinvesting.
The Talented Tenth
“The talented tenth” a concept espoused by Dr. W.E.B. Du Bois to describe the likelihood of one in ten black people becoming leaders of our race in the world, through methods such as continuing their education, writing books, or becoming directly involved in social change. Crowdinvesting provides another avenue for African-American leaders to empower the community through politics and economics. Crowdinvesting provides an element of both social engagement and capital aggregation for the community using social media and the platform.
Black Professionals as Investors
As I input the data of the immense number of Black professional organizations the thought came to me that for the price of a single cup of coffee per month these organizations have the ability, through crowdfunding, to raise $5 million monthly to finance the incredible work these organizations are doing. When put into proper context is, a single cup of coffee a month a large sacrifice, when we observe the many sacrifices our ancestors made for us to be able to access an education or the right to vote?
Due to the strict levels of segregation and discrimination in the United States black professionals were forced to create their own associations. Today these associations of black professionals may just be the segmented crowds needed to bring crowdinvesting to African-American communities as a political and economic empowerment tool. The crowds are already formed now it is all about the messaging that will be able to engage and excite these crowds to constructive action.
If we raised $5 per month from 1 million black professionals to support their organizations on a rotating basis that would be $5 million monthly that would support the black professional organizations and help them prosper and carry out their missions. As these groups became more and more familiar with crowdfunding they would be able to move to Buy The Block and begin the process of crowdinvesting.
If these same 1 million Black professionals invested $100 the minimum for an investment on Buy the Block monthly through a dollar cost averaging process that would be $100 million monthly invested in real estate development and entrepreneurship in inner-cities with a estimated 10 percent return on investment we would achieve economic empowerment, increased real estate development, accelerated entrepreneurship and job creation.
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