News — entrepreneur

The appraisal value of the estate of deceased rapper and entrepreneur, Nipsey Hussle sets his fortune at around $4 million. Per legal documents obtained by TMZ, the Crenshaw rapper’s net worth is valued at approximately $4,169,088.57.

A significant portion of Nipsey’s fortune reportedly comes from his trademark portfolio, shares he has in companies he owned, and personal valuables including Rolex watches and gold jewelry.

Breaking it down further, TMZ reported the Grammy award-winner owned a 25% share of stock (worth $271,000) in his Slauson Avenue-located Marathon Clothing Store as well as a 100% interest in his record label, All Money In No Money Out Inc. – which is valued at around $2 million. He also has some $913,000 coming from his trademark portfolio. This includes his name, voice, signature, photograph or likeness on or in products, merchandise or goods.

Born Ermias Davidson Asghedom to an Eritrean father and an African-American mother, Nipsey was fatally shot multiple times in front of his Marathon Clothing store on March 31, 2019. Following his death, the store became a mecca for fans and sympathizers who thronged the location to pay their last respect to the 33-year-old. The store also reportedly made over $10 million in sales following his death.

Outside music, the Grammy-nominated rapper was widely known for his philanthropic works and entrepreneurial savviness. He owned several businesses along the block he was shot, including his Marathon Clothing Store — which he opened in 2017, a burger restaurant, a barbershop and a fish market.

In an interview with Forbes in 2019, the rapper revealed he had purchased the plaza the Marathon Clothing store runs alongside a business partner in a multi-million dollar deal with plans of building an apartment complex on the property.

“Before we was renting here, I was hustling in this parking lot. It’s just always been a hub for local entrepreneurs,” he said. “Within 18 months or so, they’ll knock everything down and rebuild it as a six-story residential building atop a commercial plaza where a revamped Marathon store will be the anchor tenant.”

Following his death, the store’s management announced the commencement of the construction of the Nipsey Hussle Tower on the plaza to “commemorate and honor the life and legacy” of the slain rapper. When complete, the mixed-use development would also house a museum.

The world of work can sometimes be vulnerable to shocks and global events leading to job cuts or losses. For instance, the COVID-19 pandemic has affected the revenues of many companies, resulting in job cuts and dismissals.

Before the pandemic, hiring and firing was a normal occurrence in the world of work. Many adapted, nonetheless. Others found jobs elsewhere while others decided to open their own firm or become their own boss.

Such is the story of Patrick Glanville, who is very skilled in making chocolate. After years of going through the horrific experience of being dismissed, rehired and fired again, he felt he had had enough and wanted to be his own boss.

Glanville launched his own chocolate company, 3 Some chocolate, a chocolate brand that combines 3 flavors into 1, and offers it in a pack of 3. The company was created by his desire to utilize his skills as an artist and culinary artist, according to Blackbusiness.

Since he established the company in 2017 with his partner, Kristin Parker-Glanville, it has recorded more than 400,000 units sold with over 75, 000 customers dotted across the United States and beyond. It recently saw a spike in online sales, making over $130,000 in less than a month.

Born and raised in Southside Jamaica, Queens, Glanville learned the art of chocolate making from his grandmother at the age of 10. He became a certified chocolatier after studying at the Barry Callebaut Chocolate Academy in Lebbeke, Belgium alongside his partner, Kristin.

Kristin, born in Lower East Side of Manhattan, doubles as the CFO/Co-CEO of 3 Some Chocolates. She also has a background in business administration, operations and finance. Her job includes working to protect the company’s brand.

With his background in graphic design, management, and sales, Glanville created the design of the products as well as the website and recipes while being in charge of marketing.

Just like many Black startups, securing funds to expand the business is often difficult. According to the Harvard Business Review, Black founders receive less than 1 percent of venture capital. Black women founders represent less than 0.2% of companies that receive such funding. Also, 81% of venture capital fund have no Black investors while 70% of VCs are White and only 3% are Black.

To overcome funding challenges, Glanville and his partner launched a CrowdFunding campaign where many investors have come on board to join their chocolate journey. Glanville has, as of Saturday, raised $301,236 on Wefunder. 

Here’s a thought-provoking statistic: A whopping $290 billion would be created in Black wealth if the revenue gap between what Black-owned and white-owned businesses generate were equal.

That discovery came from building supportive ecosystems for Black-owned U.S. businesses, a fresh report from management consulting firm McKinsey & Co. reveals. The research showcases the hurdle Black entrepreneurs face and provides answers that the public, private, and social sectors can implement for equitable and positive business outcomes.

The report notes the right business ecosystems can mitigate or negate the effects of structural obstacles to the business building for Black business owners, adding $290 billion in business equity. The report released in late October found entrepreneurship and business ownership — particularly of community-based businesses— are crucial ways to develop community wealth for both business owners and their employees. Further, healthy Black-owned businesses could be an essential way for closing America’s racial wealth gap, which is projected to cost the economy $1 trillion to $1.5 trillion annually by 2028.

The COVID-19 crisis has further stressed Black-owned businesses and threatens to widen the racial wealth gap. This gap includes a $200 billion revenue opportunity that Black business owners are missing out on if they were to achieve revenue parity with white-owned businesses, translating to lost wealth and up to 850,000 jobs through 2021 due to increased liquidity constraints.

Asked what were among the report’s most stunning findings, McKinsey associate partner John-Paul Julien said “our report states that while nearly 20 percent of the 12.3 million women-owned businesses in the U.S. are owned by Black women, Black women experience significant economic and institutional barriers due to their race and gender.” For example, Black women are disproportionately shut out of venture capital funding, which can rapidly fuel business growth. Women of color receive less than 0.2 percent of VC funding, and at 4 percent of funded U.S. start-ups, Black women founders are underrepresented and underfunded. Indeed, the average Black woman-led start-up that received funding raised only $42,000.

The McKinsey report also offered some potential solutions to help create more economic parity for Black-owned businesses:

Apply policies that produce equitable outcomes

The public, private, and social sectors can help remove institutional barriers for Black-owned businesses and ensure laws, policies, and practices produce equitable opportunities and outcomes. For instance, procurement practices, especially at anchor institutions and large organizations, can evolve to be more inclusive of Black-owned businesses. Along with dedicating funds to procurement from Black-owned businesses, large organizations could simplify their minority-supplier certification processes to add new suppliers more quickly and dedicate funding to supplier-development programs that can help Black-owned suppliers better participate in supply chains.

Provide equitable access to capital

To help overcome economic barriers, Black-owned small businesses (SMBs) need direct investment or equity contributions, including grants, subsidies, loans, and revenue-participation agreements. Direct investment is especially key during COVID-19. McKinsey’s analysis suggests that an additional $7.6 billion to $15.4 billion in liquidity for Black-owned SMBs in the 2020-21 time frame — less than 3 percent of the $659 billion authorized under the Paycheck Protection Program — could preserve 460,000 to 815,000 jobs, for an average of $9,325 to $33,478 per job. Funding sources are also needed for Black entrepreneurs starting up or expanding. Banks, conventional and social impact investors, foundations, and public programs could make more capital available to Black-owned businesses. Possible programs include ones that make extending capital to Black-owned businesses less risky through measures such as guaranteeing funds and programs that help entrepreneurs from marginalized backgrounds acquire more capabilities.

Build business capabilities and facilitate knowledge sharing

To conquer market barriers, Black-owned SMBs need support for building capabilities and sharing a greater amount of knowledge. The private and social sectors — particularly anchor institutions — could provide resources. That could include offering help with reskilling and upskilling Black-owned businesses’ workers to make Black-owned SMBs nimbler. Many Black-owned businesses lack the resources to hire service providers that can help them digitize their businesses, but private-sector and social-sector organizations can provide free technology services and managerial assistance.

Expand opportunities for mentorship and sponsorship

Representation and participation in networking, mentorship, and sponsorship programs can help Black entrepreneurs overcome some sociocultural barriers. Private companies should take the lead by building more inclusive teams. Further, managers at every level should consciously develop — and sponsor the careers of — more Black leaders to counteract the effects of structural bias. Indeed, only about 3 percent of current Fortune 100 company CEOs are Black, and fewer than 4 percent of those oversee departments’ profit and loss functions. Those that tend to accelerate career progression for Blacks. Moreover, unconscious bias can affect mentorship and sponsorship, because humans tend to gravitate toward mentoring people they view as similar to themselves.

Community programs can help Black entrepreneurs connect with role models and commercial networks that can help Black prospective entrepreneurs pursue business ownership with more confidence and support. For instance, the private and social sectors could facilitate networking and partnerships between established businesses and compatible start-ups.

An investment in more business ecosystems that provide Black business owners equitable access to resources and opportunities can unlock part of the $1 trillion to $1.5 trillion in annual GDP that would come from closing the racial wealth gap, the report surmises. It adds, more importantly, by making social and economic institutions supportive of a wider swath of people, stakeholders can rectify the mistrust that has developed between Black entrepreneurs and institutions.

William Michael Cunningham, an economist who runs Creative Investment Research, had mixed reactions to some of the findings in the McKinsey report. He told via email a statement in the report that “Black Americans have never had an equal ability to reap the benefits of business ownership” is correct. But Cunningham maintains that Black businesses have continued to survive and innovate in what must be considered one of the most hostile environments for Black people on earth.

“The system of white supremacy that relies on the theft of resources from Black people has severed to limit the ability of Black business owners to fully reap the benefit from their labors.”

Cunningham added the report errs in several ways. For example, he says, Black-owned businesses don’t earn lower revenues and are overrepresented in low-growth, low-revenue industries such as food service and accommodations because they want to perform poorly.

“A reluctance to use Black-owned firms outside of these industries leads to overrepresentation,” Cunningham says. “They are limited to those fields. One policy prescription is to put into place a set of government policies to eliminate these barriers.”

Black business owners will get a hefty $20 million venture capital funding commitment courtesy of Northwestern Mutual Future Ventures.

The venture capital arm of Milwaukee-based life insurance and financial services giant Northwestern Mutual will invest the money in startup companies founded by Black entrepreneurs. Plans also call for the launch of the Northwestern Mutual Black Founder Accelerator, a new startup accelerator powered by nationally ranked startup accelerator gener8tor.

The company reports the new initiatives are part of its ongoing commitment to fostering diversity and inclusion and driving equity through innovation.  On the venture capital front, the funding is needed. Northwestern Mutual reports Black founders receive less than one percent of venture capital funding annually. It added Northwestern Mutual and gener8tor are committed to investing in and supporting Black entrepreneurs to help close this funding gap and advance their companies.

“At Northwestern Mutual we’re dedicated to supporting and promoting diversity not just within our company, but within our communities and the businesses we partner with nationwide,” John Grogan, chief product and innovation officer, Northwestern Mutual stated in a news release. 

“Allocating $20 million is only the beginning – we will continue to invest in and provide opportunities for Black founders and are committed to providing access to capital and resources to help them grow their businesses.”

Northwestern Mutual Future Ventures claims it is focused on advancing the company’s investment strategy of engaging startups whose technologies have the potential to transform how people experience financial security. It declares investment criteria for the $20 million Black founder funding allocation is aligned with the fund’s key strategic areas of focus:

• Building for consumers’ changing financial preferences
• Reimagining the client experience
• The digital health revolution
• Transformational analytics and technologies

“Innovative thinking is required to drive breakthrough solutions to close the racial equity gap, and by supporting Black founders through Northwestern Mutual Future Ventures and the new accelerator program in partnership with gener8tor, we can make a difference to close this funding gap,” stated Abim Kolawole, vice president, digital innovation, Northwestern Mutual. “Our company’s Sustained Action for Racial Equity task force, which launched earlier this year, is looking at racism and inequality from every perspective. These initiatives will drive change and create impact within our company and communities.”

Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Co.

Further, The Northwestern Mutual Black Founder Accelerator is gener8tor’s first accelerator exclusively focused on advancing Black founders. The 12-week accelerator will run up to two cohorts of five companies a year and startups must be aligned to Northwestern Mutual Future Ventures’ investment areas of focus. The first cohort will begin in early 2021.

Racial disparities within the healthcare system due to to the lingering effects of systemic racism prevent thousands of Black and Latinx patients from receiving the adequate service they deserve. One Black woman is seeking to change that by establishing a new tool to help marginalized groups connect with doctors from their communities.

Kimberly Wilson is the founder of HUED, an app created to help Black and Latinx patients connect with doctors of colors for healthcare services. Wilson created the company after her own health scare exposed her to the disparities many like her face.

“As a 30-something, I was traumatized by this experience, and in that, I realized my story is the same as countless others, though many are unequipped to be their own self-advocate,” said Wilson. “That was when I developed a solution for improving the patient care experience.”

Wilson says the COVID-19 pandemic has only given more exposure to the disparities Black and Latinx patients face when seeking healthcare services leading more consumers to the app. “Where investors and other stakeholders were uninterested and unbothered by the work that HUED was doing, even just a year ago,” she explains, “there’s been a spotlight on healthcare that is helping us to validate a problem that we’ve sought to address well before this moment in time.”

The health app recently partnered with Vaseline and award-winning actress Regina King to collaborate on a search tool to help people find dermatologists and other specialist doctors of color. “Through this partnership, we co-created a search tool with Vaseline specifically focused on helping people identify and connect with dermatologists of color and those experienced in treating skin of color,” said Wilson.

“The online platform will also offer educational resources that provide expert recommendations on how to treat and monitor skin at home, understanding when to seek a dermatologist for proper care, and how to best prepare for an appointment with the right questions and what to expect.”

Wilson went on to say that she hopes the services can help combat these disparities as a start to reform the system and help those within the community. “HUED’s solution not only reduces the economic toll of payers (resulting from racial disparities),” she says, “but also drastically improves health outcomes for people of color by allowing patients to search, review, and book culturally competent physicians that specifically understand their physical, mental, and cultural needs.”

After extensively researching the domestic and international cigar industry, the owners of Emperors Cut Cigars discovered an interesting finding: With the explosive growth of African American smokers there was a niche for them to enter the space with a quality cigar and attract customers.

They were convinced with the right product they could compete in the general marketplace domestically. Understanding that the sales cycle would be longer, they, nonetheless, were confident that they would capture both mind and market share. Three years after its launch, Emperors Cut Cigars (EC) is steadily making headway into America’s fruitful cigar business that generates over $9 billion in annual revenue.

Like other U.S. businesses feeling the sting of COVID-19, Emperors Cut turned to online and social media channels to help boost sales.

In January 2020, the business planned for 30% of its revenue to come from online, says Darnell Streat, managing partner and founder of The Emperors Group L.L.C., owner of EC. But two months later, normal revenue from cigar lounges and events went to zero in seven days due to COVID-19. That forced the business to rely on its online platform for 100% of revenue for March and April.

“Looking back this was a blessing for our online business model,” Streat says. “COVID-19 forced us to revamp our website and find new ways to market to our customers. We had to embrace social media and execute more in the digital marketing space as a replacement to our normal face-to-face marketing approach.”

To do that, the firm aggressively started marketing its products on social media. That included creating digital content for Zoom happy hours and partnering with spirit companies like Uncle Nearest and Remi Martin. The business also benefited from the nation’s rising racial tensions that gave Blacks a greater desire to support local businesses. Streat says customers started promoting his company to other African Americans cigar enthusiasts. He pointed out that people also put lists together of African American cigar companies and denounced a few majority companies that didn’t support people of color.

“Little by little, more orders started coming in online along with a new awareness for our cigar products. Our customer service and open approach with our customers were starting to pay dividends in customer loyalty and increased sales.”

Now, EC has new growth plans and aims to puff up sales by expanding online and globally.

“As we move into the fourth quarter, we are exploring ways to develop markets in Europe, Africa, and Canada, Co-owner Greg Willis says. “We have a small number of international customers that we would like to continue to grow in a structured manner.”

He claims American products still have a level of mystique and interest in other parts of the world as luxury items. As well, Willis says in those targeted countries English is a dominant spoken language. “We think this positions us well to introduce, market, and sell our cigars to smokers in those areas.”

Streat says EC hopes to achieve annual sales exceeding $3 million by 2025, with most of the growth coming from international expansion.

The company’s business model thus far is apparently working. EC reports 2020 monthly revenue is growing 43% over the 2019 year to date. For all this year, the business is projecting revenue of $250,000, up from around $175,000 in 2019 and $75,000 in 2018. It plans to focus on driving growth in Q4 2020 from these buckets: direct to consumer (online), retail shops and lounges, and big-box retailers.

The company reports it is on pace to sell over 50,000 cigars this year

Overall, observers say the cigar business is profitable. Though smoking is tied to health risks and subject to laws that ban smoking in public places, cigars are chic with people from multiple backgrounds. The business is alluring to entrepreneurs because it includes an established market with people who already smoke cigars as well as many prospective buyers. While it can be challenging to penetrate the market, insiders report operators in the business can achieve success if they target a strong core of customers.

Still, trying to upscale EC has not been a cakewalk for Streat, Willis, and their five partners since they started the Houston-based company. Streat says capital acquisition to grow in key areas such as procure inventory, product development, backend technology innovation, and marketing remains the biggest hurdles to overcome. Other hindrances include conquering federal and local government regulations that suppress smoking indoors, most outdoor venues, and any place not deemed a smoking establishment or zone. Brand recognition is another obstacle but Streat says the firm has been effective at leveraging social media, podcasts, and word of mouth to extend the brand where the cigars are sold.

Plus, EC is competing in an industry reportedly long prevailed over by whites and Latinos who have shut out or restricted Black cigar brands or enterprises from their establishments. But Willis counters that has not been the case from his firm’s perspective. He agrees the industry is competitive but added EC has not experienced any hostility.  In fact, he says his firm has been welcomed by industry colleagues.

“The sales cycle is a bit slower with predominantly owned and patronized white cigar shops but we understand cigar placement in a humidor is akin to prime real estate, and competitive. So, owners need to know they can turn quickly the inventory they invest in. This is not an unreasonable approach, so we operate accordingly within the sales process.”

Some empowering news for EC is there is a growing number of Black Americans finding pleasure from enjoying a stogie or stick in their leisure time. Black adults accounted for nearly 36% of cigarillo smokers, 24% of non-premium cigar smokers, and 5.3% to-15.7%, respectively, of smokers of premium and filtered cigars, a 2017 report by the Society for Research on Nicotine and Tobacco shows.

To help capture a larger share of those smokers, EC has a physical sales presence in Atlanta, Miami, Florida, Houston, Washington, D.C., and Norfolk, Virginia. The business reports it is now in 19 states and 95 lounges and retail outlets, up briskly from 10 states and 40 retail outlets at this time last year.

Interestingly, like some other Black-owned businesses in various sectors, the cigar company has benefitted from COVID-19. Willis says cigar smokers love the pleasure derived from smoking a good cigar. “COVID-19 may have had an impact on their lives but it did not diminish their desire to enjoy a good smoke.”

Further, he pointed out there was a deep feeling within the Black cigar smoker community because of the murder of George Floyd and the prominence of the Black Lives Matter movement. He said many began to seek out Emperor Cut Cigars and other Black-owned cigar brands, adding that it has been good for business.

“Upon reflection, it is true our fight for mind share and brand awareness among Black cigar smokers became easier as a result of these unfortunate events,” Willis says. “Still, there is a lot of runway ahead of us to curate business within the Black cigar smoking community. It remains one of our biggest opportunities.”

The economic fallout from the COVID-19 pandemic has been devastating for U.S. small businesses, with many experiencing dramatic declines in revenues and cash liquidity following the government-mandated closures that began in March. The effects of the economic downturn have been especially severe for Black-owned businesses— many of which entered this crisis undercapitalized.

As a step toward helping black-owned businesses recover and move forward, a coalition of four business advocacy groups — the National Minority Supplier Development Council, US Black Chambers, National Urban League and Black Enterprise — have partnered with JPMorgan Chase to launch Advancing Black Entrepreneurs by Chase for Business. Together with Chase Business Banking, these organizations have developed an educational curriculum designed specifically for eligible black entrepreneurs on key topics that are vital to business growth and sustainability.

Kamal Grant, owner of the Atlanta-based Sublime Doughnuts and a Chase for Business client, shared his insights about why it is critical for Black entrepreneurs to have relationships with banks and the importance of new programs like Advancing Black Entrepreneurs.

“I am excited to be a part of this program. It is a tough environment for Black entrepreneurs, and it is great to see Chase have this curriculum to develop the in’s and out’s of a well-oiled business,” Grant says. “Seeing a program like this can help us address the important issues and bring people together to have positive discussions. It’s important to learn how to grow your wealth and build on that.”

Black-owned businesses experienced a 26% decline in cash balances in March compared to the prior year, according to the JPMorgan Chase Institute, and could require more recovery assistance than others due to severe revenue shocks in recent months.

Participating entrepreneurs also receive instruction on how to reimagine their businesses if necessary— with insights into how to build more flexibility into supply chains, develop an online presence, revisit staffing models, and a primer on accounting best practices for new grants or loans they may have recently received. In addition, the course will provide insights into how to manage banking relationships in this environment.

“Black entrepreneurs play a vital role in the economic health of black communities, and it is critical that we equip them with the necessary tools and insights at this time,” says Adrienne Trimble, president and chief executive officer of the National Minority Supplier Development Council. “We’re looking forward to working with the coalition and Chase Business Banking to position black-owned businesses for success and prepare them for life after the crisis.”

Changing business models

As many retail bakeries are learning, a new business model is needed to capture and sustain business growth. Slowly but surely, sales are picking back up this year, and sales of donuts – which Grant calls a “natural takeout food” – are building, thanks to a budding delivery business for the bakery.

“People started coming out and taking donuts home for their families, and a lot of people in Atlanta started supporting Black businesses,” Grant explains. “Atlanta showed up, and that’s been really good for us. Sublime is needed in this new world order.”

Sublime Doughnuts is nearing 12 years in business as one of the most innovative donut shops in the country. The retailer operates two locations in Atlanta, in addition to two locations inside the Mercedes-Benz Stadium, home to the Atlanta Falcons of the National Football League.

As the creative mind behind Sublime Brands’ distinctive doughnut and bakeshop concept, Grant demonstrates a love for baking and bringing smiles to customers’ faces that can only be described as awe-inspiring. “I realized at a very young age that sweets make people happy, and that’s what I wanted to do with my life,” he says.

When an executive from Dunkin Donuts visited Grant’s high school foodservice class and discussed his trips to the doughnut research and development lab to taste the experimental treats, it sounded pretty sweet. After graduating, Grant joined the Navy and used his enlistment as an opportunity to pursue his dream of becoming a world-class baker. Serving as a baker among the E4 – 3rd Class Petty Officers on the USS John Young, Grant’s cinnamon rolls quickly gained the praise of his shipmates.

In addition to an opportunity to bake, his travels with the Navy also exposed him to international culinary treats and exotic flavor and texture combinations. Singapore’s ice cream sandwiches made with multi-colored bread and sweet red bean soup, Australia’s malt chocolate beverages and Dubai’s shawarma and rosewater forever changed Grant’s approach to baking.

“While traveling around the world in the Navy, I learned that pastries weren’t just about baking; they also represented culinary art,” says Grant.

This newfound artistic appreciation led him to enroll in the Culinary Institute of America, where he focused on high-end desserts, plate presentation, classical techniques and the flavors and textures of award-winning chefs. During his time at the Institute, Grant interned with renowned pastry chef Keegan Gerhard at the Windsor Court Hotel in New Orleans. Upon graduating, he refined his skills at the American Institute of Baking, where he focused on the science behind baking. Grant put these skills to use at his first job as a supervisor at the Flowers Baking Company, learning the value of “high volume, high quality” production.

Before long, Grant’s desire to create led him to notice a rental sign for an empty shop in Atlanta that would soon become his culinary vision, known since 2008 as Sublime Doughnuts.

“At Sublime, we present flavors and textures from around the world on a doughnut canvas,” he says with a smile.

Due to the spread of the COVID-19 outbreak, remote work has become a norm in corporate environments across, which gave employees more flexibility in choosing their workplace. One entrepreneur was able to leverage his online expertise and turn it into a lucrative business that allows him to travel around the world.

Jubril Agoro is the founder of Agoro Marketing Agency and co-founder of the Live Richer Academy, an online school to teach people financial literacy with finance expert, Tiffany “The Budgetnista” Aliche. Agoro got his start after teaching himself the foundations of digital marketing and getting an early start reselling goods on eBay.

“I started to focus on businesses that I could build long term [and] that had a big opportunity,” said Agoro in an interview with BLACK ENTERPRISE. “When I looked at the industry, there was nobody serving not even  just African American women, just women in general, through the ad space, no one was promoting [to them].”

Because of the flexibility of his online businesses, he was able to travel freely and started working while on the road. After a trip to Hawaii, he became inspired to continue to travel more, documenting his journey on social media and YouTube.

“I would go to places like Thailand and Colombia [and I was] having a completely different experience [than from] what the media was showing me,” he said. “So I wanted to tell my story.”

Agoro then started Passport Heavy, a travel, and production company, since his remote lifestyle gave him the freedom to work from any place in the world.

“Before [I did travel videos], my first videos were on Black executives and entrepreneurs,” he said. The travel [piece] came out of a love for showing people a different side of the world.”

For those transitioning into a remote work lifestyle, Agoro says to take advantage of remote work permits, strengthen your skills, and learn how to adapt to the digital marketplace.

“Do the work and invest in yourself,” he says. “COVID-19 [has] only accelerated working from home and now its the norm now….this is the way of the future.”

During a short business trip to Nigeria in 2015, Ike Okosa witnessed firsthand the nascent but bubbling tech ecosystem in the country.

At the time, Okosa was running Swoop Media, a UK-based company that provided IT and digital marketing solutions to UK private schools.

The UK-born entrepreneur, who was visiting for the first time in over a decade, admits he was unaware that the country had a tech ecosystem.

However, attending the 2015 edition of Social Media Week in Lagos changed his notion, and he formed vital connections there that proved helpful in his journey to becoming a Nigerian-based entrepreneur.

Furthermore, the amount of talent he met led him to hire a developer, designer, and social media marketer for Swoop Media. He was so impressed with their work that they replaced some of his UK employees.

Then he noticed something else.

Swoop Media predominantly outsourced its software engineering work to a team of five in India. The Asian country was the first market for most companies that wanted quality software engineering work done for cheap. But that model proved difficult for Okosa.

“Working with Indian developers was painful at times. English isn’t their first language, so communication was often a problem. The time zone difference — five and a half hours — also made working with Indian talent difficult,” he says to Techpoint Africa.

eWorker v1.0

Like most founders, he set out to solve his problem. He knew that connecting UK companies to talent in Africa would address many of the challenges they had with India. And at the same time, it was going to have a positive impact on Africa.

Over the next few months, he and his team started building the first iteration of eWorker as a freelance job platform which they launched in 2016 at Social Media Week.

Via social media, eWorker signed up 500 African freelancers in a couple of weeks. Asides the fact that the startup was competing with the likes of Fiverr or freelancer.com, most of the jobs that came on the platform were low-value ones. Also, the performance of the developers was subpar.

“Some of the work was really good, some of it was poor. Some users stole other people’s work and presented it as their own. Some even copied from other registered users.”

The founder says this made the team pivot to local tech recruitment the following year, and then to what it is today: a senior engineer hiring platform connecting global companies to top tech talent in Africa.

Why focus on senior engineering talent?

In 2017 when eWorker pivoted, a number of companies had sprung forth with similar offerings. And creating a niche for itself, the startup decided to focus on senior software developers.

Okosa says that the startup’s clients have always been on the lookout for quality senior engineers. He claims that this is because, in the US and UK, there’s a tendency for such companies to have good junior and mid-level developers at affordable rates; the senior engineers, on the other hand, are quite expensive.

eWorker vets software engineers and clients to protect both parties.

“The last thing we want to do is to connect a senior software engineer with a company that doesn’t understand the value he or she has.”

On the supply side, eWorker puts the engineers through a thorough skills assessment where evidence-based data is key. Here, the company vets the individuals’ previous performances, recent assessments, take-home projects, and cultural fit assessment to ensure they are the right fit for a company.

The demand side has some similarities. Okosa says one of the things eWorker does is try to understand the culture of the client first. It then considers the size of the company, if they have the right infrastructure in place, the right team to support the developer, and its financial position.

The processes are vital in matching engineers with clients. For Okosa, eWorker is big on clients that have people their developers can work under, thus providing room to learn and grow.

Since launching five years ago, eWorker has bootstrapped its way into nine African countries: Egypt, Ethiopia, Ghana, Kenya, Morocco, Nigeria, Rwanda, South Africa, and Uganda.

With clients mostly in the US, UK, and Europe, the company has assessed over 5,000 developers across the continent (85% from Nigeria) and matched them with these companies.

Remote work and expansion

Using talent managers in these countries, eWorker has gone remote and expanded using a smart and lean approach. Although Okosa adopted remote work when he worked with the Indian developers, he admits that it wasn’t easy this time.

Okosa recounts why it was difficult at first adjusting to the fact that his home was his new office.

“When we started remote work, I found it difficult to adapt to full-time because I was working from a small table. But getting a desk and chair for my home office has brought comfort and improved my remote work experience.”

Now that the pandemic has sped up the adoption of remote work, eWorker has fully embraced it and everyone works from home. He believes one of the advantages of this decision is increased focus as against distractions like staff clocking in when they had a physical presence.

With that out of the way, eWorker is laser-focused on more expansion. Okosa says Lagos, the company’s first market, has proved valuable in its quest for expansion within and outside Africa. Citing Lagos as a tough tech talent market to crack, he feels if tech companies can survive in Lagos, they’ll likely survive outside Nigeria and Africa.

On another note, the company recently launched its eWorkerHR platform that helps human resource personnel to measure and find quality talent.

The platform was created from the company’s Talent Identification Framework, a 9-step process that helps companies identify top performers. So far, eWorker has partnered with enlisted companies like MAX, Paga, NIBSS, Business Day, and BUA Cement to use the platform.

While the startup is providing solutions like this to companies outside tech, Okosa reminds us that eWorker remains committed to connecting African senior tech talent with global opportunities.

“It’s now time to broaden our scope as we have a global vision. For eWorker, talent exists across Africa and providing opportunities to top tech talent across the continent has always been our mission.”

I’m also the founder of Socially Africa, a foundation that gives back to the community through several initiatives. In 3 years, we have executed one of our projects “Art For A Cause” in 15 schools across Nigeria, Impacting over 8,000 kids. We’ve also run our code classes for teenagers, teaching basic programming to 80 teens. We have given out 1,000 Love Boxes, Hosted 2 food drives, and launched our volunteer platform, The Amber Circle. Socially Africa is more than an NGO, we are a movement teaching young people how to give back.

Prior to forming Trellis Group, I worked as a content director on the following projects – United Nations World Tourism Conference, Nigeria Centenary Awards, International Conference On Peace & Security. I also worked as the project manager for Freemantle Licensed TV Shows, Nigerian Idol and Nigeria’s Got Talent, where I was responsible for managing various aspects of the show – business, brand, and production. I was also the Corporate Communications Manager for OSMI during the 2010 World Cup where I managed all communications on the broadcast rights for Nigeria. Prior to moving to Nigeria, I was a Credit Analyst at Citigroup, where I received an award for outstanding sales, and team spirit.

I believe in sharing my  knowledge, and also helping teams operate at optimal capacity. I currently conduct brand and productivity trainings through Trellis School Of Decisive Advantage. When I’m not busy being an Entrepreneur, I am busy helping people discover and live a purpose driven life via my social media platforms, and my alter ego “Lumina” who is a Rapper and Poet.

She shares how she started her businesses with Woman.NG

FROM HAVING AN IDEA TO STARTING YOUR BUSINESS, SHARE YOUR JOURNEY WITH US

I started my business to solve a problem that I identified in the creative sector. When I first moved back to Nigeria, I found that a lot of creative people did not have the skill sets to monetize their creativity. Hence, I started off helping people structure their ideas, and create sustainable products/projects that would allow them monetize and build something that made them truly proud. In the process of doing this, I started to help brands find innovative ways to engage with their consumers, and tell their brand stories. Over the years, our business has evolved into what is now the group structure.

WHY DO YOU LOVE WHAT YOU DO? THERE ARE SO MANY OTHER BUSINESSES YOU COULD HAVE EXPLORED, WHY THIS?

My focus is to help people find clarity, and position their lights in such a way that it impacts other peoples lives. It sets off a ripple effect of impact and positivity. For me, the ultimate thing is to help others succeed, and this is what my business is built around.  It is called “Trellis” because a trellis is a wooden or metal framework that holds plants in place to receive  adequate sunlight and nutrients for growth. This is the same way that our business operates – we are a framework for businesses and individuals.

AT WHAT POINT DID YOU KNOW BEYOND ALL DOUBT THAT THIS IS GOING TO WORK?

I’ve always known that it would work, because my measurement of success is different to most people. The moment I see that the work I do is providing clear value to my client, and helping their business, I tick off my “Job Completed” box. I don’t judge my business growth solely by the money that comes through. It is possible to make money without providing impact. Many people generate income from projects that didn’t really help their client. For us, we genuinely want to see our clients succeed.

HOW DID YOU RAISE THE CAPITAL TO START YOUR BUSINESS, ESPECIALLY WITH THE HIGH COST OF RUNNING BUSINESSES IN NIGERIA?

Capital for our business was raised through executing projects individually and collectively. My business partners and I worked on multiple projects as freelancers, to allow us fund the business. I’ve never really believed in investors, and raising capital at the commencement stage of business. I prefer to work hard for the seed capital, as it urges me to manage it more efficiently, versus spending someone else money.

HOW SOON DID YOU START MAKING PROFITS?

I would rather keep this private.

BRILLIANT IDEAS DON’T ALWAYS MEAN GREAT SALES, HOW HAS IT BEEN MARKETING YOUR SERVICES?

I believe that brand marketing is a very important part of every business. It’s important to understand that people buy into extensions of themselves and their life’s story. As a business, you want to be consistently chosen by the people you exist for. You want them to buy you over and over again and make you a part of their beautiful story. For this reason, you must develop a brand strategy that positions you own such a way that when they consider their journey and what elements perfectly fit in, they think about you. Branding isn’t solely about logo design, or visuals, as much as it is about Making a Promise, and Keeping that promise. Our focus at Trellis is always in keeping our promise – it is true this that we receive referrals.

AS A SMALL BUSINESS OWNER YOU CAN’T DO EVERYTHING, WHAT HAS BEEN YOUR EXPERIENCE HIRING STAFF AND BUILDING YOUR TEAM?

For most Entrepreneurs, at the start up phase of your business, you usually have to assume an operational role in addition to your client facing responsibilities. However, as you grow you can start to take a back seat on operations. For our business, even though we aren’t a start up, I am very involved in hiring staff and team building, because our business is built around people to people relationships. Our people are our product. In the past, I have hired for values and trained for skill, and it has worked to some degree. However, I learned that hiring for skill and values is a much better approach to having the right people. The former is an easier route especially when you don’t have the funding to hire a certain type of people, but in practicality it becomes difficult for you to focus on your key role as a founder. Now, I only hire for skill and values – not one or the other.

YOUR GREATEST SKILL/STRENGTHS THAT HAVE BEEN PARTICULARLY BEEN OF HELP IN STARTING AND RUNNING YOUR BUSINESS?

 My ability to clarify and understand objectives has been of tremendous use on my business journey. Understanding the objective means that I know where we need to go, and can find various ways to get there. Many people jump into projects without truly understanding the “Why”. Hence, when they hit a stumbling block, it becomes difficult to take initiative or maneuver.

Another strength that has helped me is Emotional Intelligence – this has helped me build and nurture relationships that have been mutually beneficial.

DID YOU HAVE TO GET A FORMAL TRAINING OR QUALIFICATION TO BE ABLE TO DO THIS?

I graduated with a BSc in Economics and Entrepreneurship. My academic background definitely helped me with structure and discipline, as well as allows me to create a science of what I do – to be able to have repeated success on projects. However, the larger part of qualification has come in the form of experience. I truly believe that experience is the greatest teacher. It is not enough to have theoretical knowledge. It is in application that we really learn and improve.

YOU HAVE BEEN RUNNING YOUR BUSINESS FOR SOME TIME NOW, WHAT DO YOU KNOW NOW THAT YOU WISHED YOU HAD KNOWN BEFORE YOU STARTED?

I wish I knew that there was nothing wrong with paying myself as I paid my employees. For the longest while, I would feel guilty paying myself and felt the need to continuously re-invest in the business, causing me to neglect my personal needs. The downside with this is that I started to lose motivation, and grew frustrated that the business was making money, while I wasn’t generating income for myself. I didn’t realize that there were ways to structure the business in a way that it pays me too. Now, I’m happier, but I wish I knew that earlier!

 ANY LIFE EXPERIENCE THAT HAS PARTICULARLY PREPARED YOU DIRECTLY OR INDIRECTLY FOR WHAT YOU DO NOW?

My family background provided diversity of thought. My parents are from different racial and cultural backgrounds, and this provided an opportunity for me to understand diversity very early in life. Hence, I keep a very open mind, and this allows me to forge relationships with people without bias for their backgrounds. I consider myself more open minded than many people. I’m also the last child, and only girl in my family, hence, I built confidence and strength really early in life.

CHANGE CAN BRING OUT A PART OF US WE NEVER KNEW EXISTED, WHAT NEW THINGS HAVE YOU DISCOVERED ABOUT YOURSELF IN THE COURSE OF STARTING AND RUNNING YOUR BUSINESS?

I’ve learned that I‘m a very resilient person. It doesn’t matter how many challenges I encounter along the way, I simply don’t give up.

Everything in life comes with various challenges – even the superheroes in the movies have to fight people, and even their own emotional struggles.  I have my fair share of challenges, especially as I work on the client side, but also manage operations. I am continuously dealing with solving people’s problems, and that sometimes means fully immersing myself in understanding the problem first, before I try to solve. I have learned to focus on the objectives, and not worry about the Fluff – there is so much fluff in the consultancy world. The most important thing to me is generating results, everything else is secondary.

THE GREATEST BUSINESS ADVICE YOU HAVE EVER RECEIVED AND BY WHO?

“Put God first in all that you do. If you make it God’s business, He will be the best CEO you’ll ever have. “. This advice came from my mother, and it has worked for me throughout my entrepreneurial journey. There are decisions that God has made for me, and even though they were tough decisions for me to apply, they were important for elevation and growth. I have literally fired people simply because I knew in my heart that they needed to go – for my growth and theirs too. In this same light, I have turned down business where my spirit is uncomfortable, and knows that it is not for me.

WHAT DO YOU THINK ARE THE MOST ESSENTIAL SKILLS FOR WOMEN ENTREPRENEURS ESPECIALLY IN NIGERIA?

 Time Management is an important one. Time is one of the most important currencies in Entrepreneurship. Women tend to have multiple responsibilities occurring simultaneously, and in order to be truly efficient, it’s important to learn how to manage time. Communication is also an important skills to learn. I think as women, we are generally more emotional beings, and while this has it’s advantages, it can also come with it’s headaches. It is important to learn how to communicate, and clarify expectations on every table that you sit. In cases where there is a challenge, this allows you to focus on the problem, and not the person.

Chimamanda Ngozi Adichie is a Nigerian Feminist, Novelist, and Author who is known as a fierce campaigner for equal gender rights and women empowerment. Adichie has been involved in several political movements and campaigns against sexual violence including the #metoo movement. In 2012, Adichie gave a powerful talk at TEDxEuston in London titled “we should all be feminists” which had over 5 million views. In the video, she shared her experiences on being an African feminist and her views on sexuality and gender construction.

Bogolo Joy Kewenedo is currently the Minister of Investment, Trade, and Industry for Botswana. Her zest in translating policy into action and goal of improving the living conditions of her people made the new President of Botswana, Mokgweetsi Masisi, to appoint her to his cabinet. At the age of 31, she is celebrated as Africa’s youngest minister. Last year, she was appointed by the UN Secretary-General, Antonio Guterres to serve as a member of the UN High-Level Panel on Digital Cooperation.

Bethlehem Alemu is a fierce entrepreneur from Ethiopia who started her footwear company, SoleRebels in 2005 to provide eco-friendly, fair trade jobs to her community. Her firm converts tires into smart shoes. SoleRebels has been expanding rapidly since its founding and currently, it has 18 stores around the world, including the USA Japan, Austria, Spain, and Switzerland, among others. Bethlehem was the first female African entrepreneur to address the Clinton Global Initiative and was also named as one of the top 12 women entrepreneurs in the last century by CNN.

Wanjira Mathai is the daughter of late Wangari Mathai, the famous Nobel Prize winner and environmentalist who spent her life campaigning for sustainable development, democracy, and peace. In the same vein, her daughter is well known for continuing her mother’s legacy and thus, as a board member of the Green Belt Movement, she recently campaigned to plant over 30 million trees. She is also a senior adviser at the World Resources Institute and for the Partnerships for Women’s Entrepreneurs in Renewables (wPOWER).

Ilhan Omar is a 36-year old Somalian who lived at a refugee camp in Kenya for around 4 years. She is the first naturalized African and Somali-American elected to the United States Congress. Before her political position, she has been a fierce campaigner for affordable housing, healthcare, and a living wage. In 2017, she was one of the 46 women to feature in Time’s Magazine’s report, “Firsts: Women who are changing the world.”