black people and money

Read How A Family Is Working To Build Generational Wealth

Read How A Family Is Working To Build Generational Wealth

By Ryan Velez

Generational wealth has been proven to be more and more important for the financial success of future generations, but sadly, it is lacking in the Black community, both due to systemic racism and lack of financial savvy. However, some are attempting to fight this tide. Robert and Tammira Lucas are perfect examples. The two have five businesses between them, including a car dealership, co-work space, property maintenance company, and business consulting company. All the more impressive is the fact that they did it without a blueprint or inheritance. Black Enterprise caught up with them to talk about their success and future hopes.

Both of the two have a history in entrepreneurship. “I started my journey as an entrepreneur seven years ago. When I birthed my daughter, I birthed my first business, Ryann’s Closet. Ryann’s Closet was a custom children’s accessory line, which was inspired by my daughter because she was born without any hair. As I started to create one-of-a-kind accessories, other moms would stop me and ask me where I purchased my daughter’s hair accessories from and I started to make them for others,” says Tammira. Robert started in high school by designing custom t-shirts and never stopped. Both had full-time “normal jobs” before becoming full-on serial entrepreneurs.

Robert credits keeping it all together to divine intervention. “Truly the science to all that we do is our deep belief in God. Everything we do we pray and allow him to guide us. He has been able to teach us how to make time for each part of our life. We also know how to separate each sector of our lives. We make time for each other and our daughter. More importantly, we are all (including the kid) involved in the business, which is a huge key to our success of balance. Since we know what each of us is doing and how our business operates, we understand how to plan our time and respect each other’s time.”

“We are exploring media opportunities such as a YouTube channel so that others can see what goes on in our lives behind the scenes. We are also planning to expand our business into family-fun entertainment locations,” Tammira says.

Source

black people and money

More in black people and money

You Donated For Tax Benefits. But Do You Have Proof?

sgreyJanuary 18, 2018

Hoda Kotb Says Outright That She’s Not Making Matt Lauer Money

sgreyJanuary 17, 2018

Don’t Neglect Human Capital In Your Portfolio

sgreyJanuary 12, 2018

What College Students Can Learn From Investors

sgreyJanuary 9, 2018

How To Get Into Cryptocurrency Beyond Bitcoin

sgreyJanuary 9, 2018

Woman Accused Of Stealing $38k In GoFundMe Donations Meant For Daughter Of Murdered Coworker

sgreyJanuary 8, 2018