Closing the Wealth Gap: Felecia Hatcher Talks Black Ambition's Entrepreneurial Support

In this episode of EYL, hosts Troy Millings and Rashad Bilal are joined by the dynamic Felecia Hatcher, CEO of Black Ambition. Felecia dives deep into the transformative work Black Ambition is doing to support Black entrepreneurs by providing not just mentorship but the right kind of mentorship that opens doors and creates tangible opportunities for growth.

Troy kicks off the discussion by highlighting the phrase “don’t build in the dark” and emphasizes the value of mentorship in a startup’s journey. Felecia elaborates on how Black Ambition differentiates itself by ensuring mentors don’t just advise but actively support entrepreneurs through their networks. She stresses the disservice caused by mentors who offer feedback but won’t leverage their contacts for the mentees who need them. The goal, as she puts it, is to have mentors who are willing to put you on and get out of the way, allowing entrepreneurs to flourish with the right resources at their disposal.

The conversation then delves into how Black Ambition sets itself apart. Felecia shares that Black Ambition boasts a network of 50 mentors who have opened doors to giant retailers like HSN, Target, and Walmart. This is a direct reflection of the program’s mission to close the wealth gap through speed and efficiency, understanding that time is a commodity that Black entrepreneurs simply can’t afford to waste.

The dialogue takes an inspiring turn as Troy brings up the collaboration between Jay-Z and Pharrell, part of the rollout for Black Ambition. Felecia gives us an insight into how Pharrell’s creativity and entrepreneurial spirit gave birth to the initiative. She shares a heartwarming account of Pharrell’s journey from Virginia to becoming a mogul with a legacy that now supports 101 entrepreneurs through Black Ambition.

Rashad probes further, asking Felecia how she connected with Pharrell and how involved he is with Black Ambition. Felecia candidly shares her experiences, describing her first encounters with Pharrell and how he remains hands-on despite his busy schedule in Paris and his role at Louis Vuitton. One standout anecdote recalls a feminine hygiene company, Femly, which struggled for two years to get into Marriott hotels. Pharrell, leveraging his contacts, made two phone calls and got them an opportunity within those two locations, a testament to the impactful mentorship Black Ambition promises.

Felecia also talks about the innovative learning labs created for Black Ambition entrepreneurs, offering unprecedented access to established corporate giants like LVMH and Chanel. This access includes premium insights into supply chain logistics, strategic planning from top-tier professionals, and mentorship from industry leaders, facilitated by the immense influence of Pharrell.

The discussion underscores an essential ethos: meaningful mentorship goes beyond advice; it requires action and advocacy. For Felecia, the litmus test for effective allies is simple – if someone can make a vital connection for themselves, they should be willing to do it for Black entrepreneurs as well.

This episode of EYL with Felecia Hatcher is a must-watch for anyone passionate about entrepreneurship, mentorship, and closing the racial wealth gap. Be inspired by stories of real impact and learn how Black Ambition is paving the way for a new generation of successful Black entrepreneurs.

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#EYL #Entrepreneurship #BlackAmbition #FeleciaHatcher #Pharrell #Mentorship #BlackBusinesses #WealthGap #Innovation #Leadership #BusinessGrowth #Inspiration

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