The Black community is at the bottom of the economic totem pole due to multiple reasons including systemic racism, and a lack of commitment on our part to build an economic powerbase.
On today’s Black Entrepreneur Blueprint podcast episode # 449, Jay discusses and dissects a recent video by a Jewish businessman named Berel Solomon as he discusses the “Jewish Circular Economy” and how we, the Black community, can implement it.
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BLACK ENTREPRENEUR BLUEPRINT SHOW NOTES – EPISODE # 449
The Jewish Circular Economy – YouTube Video link https://youtu.be/_RyeYiBu3EA
Core Business – It must make a lot of money (like real estate). 2. Has to be moral
Finance – must use a Jewish financier for business (Jewish banks, mortgage companies, lenders, etc.)
Direct Services – For anything that a business needs they use a Jewish service business (like cleaning, construction, etc.)
Indirect Services – use Jewish service providers like attorneys, accountants, office space, etc.
Charity – everything flows down to Jewish charities. everyone tithes 10% to Jewish charities that affect the Jewish community (synagogues, daycare, schools, etc.). THIS IS IMPORTANT – THERE’S MORE OF A COMMITMENT TO DO THIS BECAUSE THEIR RELIGION IS INVOLVED AND IT’S THE GLUE THAT HOLDS THEM TOGETHER
10 JEWISH BUSINESS SECRETS:
- The commandment is to teach your children how to earn a living, if you don’t teach them that it’s like teaching them to steal. (what are we teaching our kids)
- Be honest in all your business dealings
- Have a positive relationship with money – money is a tool to use to build community and family (not buy dumb stuff)
- We help our community – they try to support each other
- Give at least 10% of earnings to charity
- Preferred to be an owner vs a worker. Only God is your master, not another man
- Don’t do to other people what you wouldn’t want to be done to you
- Keep your money in 1/3 cash, 1/3 real estate, and 1/3 inventory
- Take one day off from work totally, unplug
- Trust God – the core of their business dealings is that they trust God to be successful and aren’t afraid to take calculated risks