I’m actively loading up and formatting the wikis for this blog as you are reading this. There are around 150 business models gathered through geo-intelligence gathering from hoods and other high density areas around the world for us to start working on. This article will be a very brief explanation of the wikis and how the work going to get done.
I explained how we captured these business models by going to high-density locations and storing them in a database. The reason why we did this is because we want to focus on business models that are already up and running in our communities. If they are up and running in our communities, then that may mean there is some demand in the hood for this stuff.
In the footer section, you should see a link called Wikis and a link called “Business Models” and this is where you can navigate to the Business Model Wikis to see all of the wikis. I still got some work to do before I start letting cats editing it because we are going to avoid the tragedy of the commons here. I’m going to have a select list of senior editors who will edit and craft each of these business models so they are readable and well-documented for brothas and sistas to take action against.
Now, I have to this by myself because it is the fastest way and most tedious, but we are going to have sections each of the business model wiki. Here are the proposed sections:
Overview. Explain the whole business concept and will stick to focusing on meeting a demand and fulfilling the need. Try to place the business in a category and how it fit in the community. We are not concern with history and other anecdotes but just the basic rundown of the business model itself.
Financial Model. I originally named this revenue model, but it need to be changed to reflect true financial operation as a business is more than revenue. Revenue is not everything and don’t listen to cornball hustle bloggers and their comment section fans tell you different. A true financial model focuses on revenue minus expenses to show the profit or loss. And you can make profit by having low revenue and even lower expense which is why we focusing on all of the financial aspects.
Legal and Compliance. This is your paperwork that you got to take care of before opening up shop or while running a business. This may be a long section as we may have to break down on a state by state level. For example, you can open an airsoft indoor arena and shop down here in the South with no problem but places like Chicago, it won’t be that simple, if at all possible.
Location and Facilities. Where do you operate this business and what kind of facility does it require? Some business models can be ran from your household, a small kiosk or an office or a retail storefront. Locations can be on the main street of the commercial sector of the hood or just on the corner of residences.
Equipment. Covers all the equipment that you need from open source software, machines, tools and furniture that is required to operate the business model. One nice thing about being a wiki is we can always have people improve this section with the latest and great software or a better tool as time go by.
Roles. These are the job titles in the business operation. Some roles may be just the entrepreneur who does everything and in some cases like retail, you will need someone doing inventory while someone running the cash register. In corporation, you may need roles such as marketing and communication but keep in mind, one person can do multiple roles. The goal is to define these roles.
Marketing Strategy. This is extremely important – I believe the biggest problem in the hood and something I learned as an entrepreneur over the years is you have to be very aggressive with marketing. Not aggressive where you harassing cats, but making sure your business is anywhere and everywhere a cat turn their head. Word of mouth, posters, web sites, twitter feeds, you tube videos, demonstrations and trade shows and table setups and all of this will be documented in detail in this section.
Launch Strategy. All business should have a launch strategy because that matters. Do not just open your doors and make that opening day very special. You may want to invite cats over to the golf course clubhouse where you throw a launch party for your insurance agent business or have a in-store party where cats can browse products for sale two nights before opening with free valet and spotlight shining in the sky. But a launch strategy should definitely be part of the plan.
Day to Day Operation. This should be documented so once a cat opens a business they should know how to handle theirs on the daily grind basis. How to deal with bums in the hood, how to watch out for punk teenagers shoplifting and how to deal with that weird middle age character who always want a refund after buying from. Did you know I had bums coming and buying something at Liquiditi and after we make the transaction they screamed they want a refund? That’s the kind of stuff that need to be documented.
Growth Strategy. Cats always talking about opening a business, but they don’t tell you how to grow your hustle and move on to bigger and better things. This section covers strategies to help cats move on up like George Jefferson by explaining how to reach certain metrics and save money and buy bigger space. In some cases, how to get bought out by a bigger fish or even go public, which many cats don’t realize they can do this without going on Wall Street.
So I have to setup this basic format for the business model and as you know, I’m putting a lot more work than talking worthless ish and copy/pasting embed codes of hustle rap videos for yall brothas and sistas out there wanting to get theirs. So please be patience as I put in that initial work and once I get it done, then it’s up to me and you to come in and start putting in the content for others to read and maybe do something.
I can tell you right now, I know where this is headed and that is some George Jefferson ish. Let’s say for example, some brotha or sista setup a pet boutique where they be trimming up poodles and ish like that and sell diamond collars and trim kitten nails to keep them cute for their owner. Once we document on this wiki all the information on the setup and then we start showing other hoods, that brotha or sista will be doing some Roscoe Chicken and Waffle or Harold’s Chicken or Jay’s Clothing or Good Fellaz Barbershops and be able to open up shop in multiple hoods and apply the same science.
So that means we will lay down a framework to help brothas and sistas become serial entrepreneurs in multiple hoods, hiring brothas and sistas in multiple places and we spark the economic empowerment revolution in our hoods. Then we can identify the cheap businesses models like alterations or apartment rental referral agent to cluster in the hood to quickly get cats setup and let them expand their hustle and grow into bigger and better.
That’s why me and you gotta be the first of our Black generation to make this happen and do this ish for our younger brothas and sistas. So I’m about to keep putting in that work, still be up at 2:30am putting it in so we can start on the path of doing for self, our people, our community and our future.