48 PROFESSIONAL WOMANS MULTICULTURAL MAGAZINE WWW.PROFESSIONALWOMANMAG.COM
DIVERSITY
&
INCLUSION
powerment comes from within. To believe that we can empower others is to assume a level of power or control over others, an attitude which is actually part of the problem. The way to help women of color feel empowered is to see them, to acknowledge them, buy from them and open doors to opportunity for them.
PWM: Tell us about your organizations, what you've accomplished and what you hope to accomplish.
Johnson:
The Institute for Entrepreneurial Leader- ship (IFEL) is an independent, not-for-profit organi- zation that supports economic development through entrepreneurship. We are experts in creating and im- plementing small business programming in support of larger economic development objectives. Our mission is to eradicate the systemic barriers that prevent peo- ple of color from creating wealth through entrepre- neurship. We focus a lot on leveraging the power of relationship capital. We have developed three brands around our core programmatic focus areas: Women of Color Connecting, The Making of Black Angels and Small Businesses Need Us. We have helped thou- sands of entrepreneurs navigate the pitfalls of busi- ness ownership, giving them the runway they need to get to a successful outcome. The longer your runway, the more time you have to figure things out. Helping undercapitalized entrepreneurs figure out how to ex- tend their runway is one of our core strengths. Our fo- cus now is on helping more entrepreneurs create and execute a plan to get to an exit and build wealth. Peo- ple of color and women who are able to do this often recycle capital and other resources back into people of color and women. Expanding this cycle is what will lead to greater inclusion in the entrepreneurial ecosys- tem. We hope to significantly increase our volunteer community so that we have the capacity to help more entrepreneurs.
PWM: What are your top 7 predictions and pitfalls to look out for in 2021 on capital inclusion?
Johnson:
I cant say that I have any predictions for capital inclusion in 2021. I dont really think that the situation will improve dramatically. I think there will be more companies that engage in activity for which they seek publicity and recognition, but at a funda- mental level, they will still not be buying from a more diverse pool of vendors, they will not be parking their dollars with a more diverse pool of fund managers nor will they be hiring a more diverse pool of talent into positions with P&L responsibility. It is likely that companies will announce big programs to dole out small dollar amounts to small business owners as grants. I think we will continue to see an acceleration in the market for black and Latinx-led VC funds. I hope that the limited partner community will entrust these fund managers with larger amounts of capital. Getting more money into the hands of black and brown peo- ple, and women of color especially, is going to require more people who look like them being in control of the capital. This is the path to clearing the blind spots that currently exist in the capital markets. If you are a high growth potential Women of Color entrepreneur or an ally who supports Women of Color entrepreneurs, we invite you to join our community. Inclusion must be intentional and change starts with you. Visit woccon.org to join the Women of Color Connecting community today. Follow us on Face- book or Instagram at W O C Connecting.
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