Latest News & Upcoming Events
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Building Generational Wealth Through Homeownership
Homeownership is one of the most powerful tools for building generational wealth. Unlike renting, owning a home allows individuals and families to accumulate equity over time, which can be passed down to future generations.
When you purchase a home, each mortgage payment contributes to your equity, essentially, your ownership stake in the property. As you pay down the mortgage and the home’s value appreciates, your equity grows. Over time, this equity can be leveraged to finance other investments, like education or starting a business, further enhancing financial stability and growth for future generations.
Moreover, owning a home provides a profound sense of stability and security that renting cannot offer. A paidoff home eliminates one of the most significant expenses most people face, reassuring you of your financial stability and freeing up resources that can be saved or invested elsewhere. This financial security can be passed down to children, helping them get a head start in life, whether through inheritance or by providing a stable living environment.
Additionally, homeownership can positively impact neighborhoods and communities, leading to increased property values and stronger community ties. This not only enhances the value of your investment but also paints a promising picture of the future. Ultimately,
homeownership is a foundational step toward building and maintaining wealth that can benefit generations to come.
Learn How You Can Become A Homeowner. Join Us Every Saturday In October
Sessions Will Be Held: Saturdays September 7th, 14th, 21st, and 28th
Time: 10 AM - 12 PM
Location:
The Hive Co-working Space, 131 Tower Park Dr, Waterloo, IA register for classes at:
https://twentyfoursevenblac.com/home-ownership/
Can We Change The Narrative On Black Homeownership?
Homeownership remains a critical path to financial stability and wealth creation, yet Black Americans are still the least likely group to own homes. Historically, systemic barriers, discriminatory lending practices, and limited access to affordable housing have played significant roles in creating and maintaining this disparity.
Black homeownership rates, at around 42.1%, lag behind other racial groups, with the gap between Black and white homeownership sitting at an astounding 31.2 percentage points. This gap is not just a statistic but a reflection of the ongoing racial inequities in housing access and economic opportunity. While white homeownership has slightly increased, the rate for Black Americans has remained stagnant, leaving Black families with less opportunity to build generational wealth.
Biden’s Build Back Better Plan
The economic recovery plans, like those proposed by Joe Biden’s Build Back Better agenda, aim to tackle these disparities by expanding access to affordable housing and improving homeownership rates for Black and minority communities. However, more targeted efforts are needed to dismantle the long-standing barriers that Black Americans face in the housing market.
Changing the narrative around Black homeownership involves more than simply promoting access to homes; it requires addressing the root causes of these inequalities. This change includes reforming discriminatory lending practices, expanding credit access, and promoting financial literacy within Black communities. Beyond that, there needs to be a concerted effort to create policies that directly support Black first-time homebuyers, ensuring they can purchase homes without facing predatory lending or exorbitant interest rates.
For Black Americans, homeownership isn’t just about owning property; it’s about building wealth, fostering community stability, and creating a future where Black families can thrive. By shifting the focus from the barriers to the solutions, we can begin closing the racial homeownership gap and, in turn, narrow the racial wealth gap that has long plagued Black Americans.
MEET OUR BOARD
Sharina Sallis - Board Chair & Co-Founder
Sharina Sallis is a dedicated advocate for diversity, inclusion, and equity, with a lifelong commitment to uplifting the Black community. A Navy veteran and Waterloo native, Sharina has driven meaningful change in her hometown and beyond. Her work to empower the Black community is evident in her role as co-founder of the 24/7 Black Leadership Advancement Consortium (BLAC), which advances homeownership and entrepreneurship in underserved Waterloo and Cedar Valley areas.
Sharina’s dedication has earned her commission appointments with the Waterloo Commission on Human Rights and Veterans Affairs and the Heritage Legacy Award. Motivated by a deep desire to fight systemic inequalities, she took action after learning of Waterloo’s ranking as one of the worst cities for Black Americans, dedicating herself to improving lives and opportunities.
I Want To Start A Business, But I Don’t Know What Kind.
Coming up with a business idea can seem daunting, but following structured approaches can help. One of the most reliable strategies is identifying a problem that needs solving. Many successful businesses, like Range Beauty, started when founders encountered issues in their own lives. Alicia Scott, the founder of Range Beauty, created a selection of beauty products catering to skin sensitivities and a diverse array of skin tones.
Another approach is assessing your personal interests. Turning a hobby or passion into a business can sustain motivation through inevitable challenges. It also helps to audit your skill set; whether creative, technical, or people-oriented. Leveraging your strengths can guide your business concept. For instance, if you’re skilled in design, think about products or services where you can utilize that talent.
Improving an existing product is another common path. You don’t always need to reinvent the wheel, just make it better. Innovations like Uber and Tinder demonstrate how taking existing services and modernizing them can lead to massive success. Conducting market research is
crucial in this process. Interviewing potential customers, studying competitors, and analyzing industry reports can reveal gaps worth exploiting.
Spotting emerging trends is also a powerful technique. Monitoring platforms like Instagram, Pinterest, TikTok, or Google Trends can highlight growing demands before they peak. If you can combine these insights with innovation, you can create products that solve unmet needs in unique ways.
Ultimately, the key to generating a business idea is staying open to exploration and experimentation.
Winter, D. (2024, March 5). How to come up with a business idea: 8+ brain boosters (2024) - shopify UK. Shopify. https://www.shopify.com/uk/blog/how-tocome-up-with-a-business-idea
Discover your true passion with I Could Do Anything If I Only Knew What It Was by Barbara Sher and Barbara Smith.This bestselling guide helps you overcome obstacles, uncover your true passion and guides you toward a rewarding career rooted in your heart’s desire. A must-read for anyone seeking direction and a life they love.
https://amzn.to/3BkeeqQ
TO YOUR PERFECT BUSINESS IDEA!
Here are eight steps on how to come up with a business idea. These steps provide a framework to guide your thinking and help you come up with a business idea that is both practical and innovative, giving you the tools to turn a concept into a viable opportunity.
Many successful businesses begin by addressing a problem. Think about daily challenges or issues people face, and how you can o er a solution.
Identify a Problem to Solve
Reflect on your passions, hobbies, or activities you enjoy. A business rooted in your personal interests will keep you engaged and motivated for the long haul.
Explore Your Interests
Take stock of what you’re good at. Whether it's technical, creative, or interpersonal skills, using your strengths can help guide the direction of your business idea.
Evaluate Your Skills
Research the market to understand trends, gaps, and customer needs. Analyzing competitors and getting feedback from potential customers can help you spot opportunities.
Conduct Market Research
Consider markets that are overlooked or underserved. Tapping into niche groups or communities can open up unique opportunities to meet specific needs.
Find an Underserved Audience
Stay informed about the latest trends in technology, social media, and consumer behavior. Spotting these trends early can help you innovate in ways that meet new demands.
Track Emerging Trends
Not all business ideas need to be brand new. Look at existing products or services and think of ways to improve them—whether it's through design, functionality, or e iciency.
Enhance Existing Products or Services
Think outside the box and consider entirely new concepts. Sometimes, innovation involves finding unconventional solutions or creating something the market hasn’t seen yet.
Get Creative and Innovate
Are you ready to take your business to the next level?
Join the Vitality Business Accelerator, a free, 14-week crash course designed to teach you everything you wish you knew about running a business but didn’t know who to ask. With the upgraded Vitality Business Curriculum, this program is specifically crafted for Waterloo & Cedar Falls entrepreneurs looking to overcome challenges and thrive.
If you’re like many small business owners, you’re an expert in your field, but managing the complexities of a business can be overwhelming. “Figuring it out on the fly” might initially seem exciting, but that exhilaration can quickly become exhaustion. As a risk-taker, you have the potential to change the narrative in your community, and we’re here to support you on that journey.
As a participant in the Vitality Business Accelerator, you’ll join a cohort of about 15 entrepreneurs at various stages of business ownership. Together, you’ll tackle the social, economic, and systemic challenges that entrepreneurs often face, while mastering key business fundamentals that will save you time, money, and stress, including:
• Strategic Business Planning
• Financial Management
• Marketing And Branding
• Legal And Operational Essentials
With the Vitality Business Accelerator, you can be confident that you’ll gain the skills, knowledge, and support you need to see your business flourish. Join us this fall and take the first step towards a more secure and successful future for your business.
Formerly The Black Business & Entrepreneur Accelerator (BBEA)
BUSINESS ACCELERATOR
Breaking Barriers to Homeownership for Underserved Communities
Owning a home can feel out of reach, especially with the inequities in lending and the housing market. At 24/7 BLAC, we believe every person who dreams of homeownership should have the resources and education to make it a reality. That’s why we created PROJECT HOME, a four-week series of classes and personalized coaching tailored for individuals in Waterloo and Cedar Falls.
Led by a certified homebuyer education specialist, PROJECT HOME covers key topics, including managing your finances, understanding credit, obtaining a mortgage, and navigating the home-buying process. Whether you’re just starting or have been pursuing homeownership for a while, these classes offer practical, actionable advice and tools to help you succeed. Each cohort is limited to 10 participants, fostering a close-knit, supportive environment. You’ll receive individualized coaching, helping you create a customized plan based on your credit score, down payment options, and financial goals. Conversations around money and credit can be challenging, but our expert instructor creates a relaxed, confidential atmosphere where participants feel safe and supported.
Upon completing the course, participants earn a $2,500 certificate, valid for up to three years, to use toward a down payment. Take the next step toward owning your home with PROJECT HOME!
To register for classes scan the QR code of visit the link below:
https://twentyfoursevenblac.com/home-ownership/
SERIES Exclusively for Vitality Business Accelerator Alumni Circle Members
ELEVATE YOUR BUSINESS
The Mastermind Series, presented by 24/7 BLAC, offers a range of business courses designed to help Vitality Business Accelerator Alumni deepen their entrepreneurial skills and stay connected. Through exclusive classes and expert-led workshops, you’ll continue learning advanced strategies in business, finance, marketing, and leadership. The Mastermind Series provides essential tools for navigating challenges, refining your business, and sustaining long-term growth.
These courses offer powerful networking opportunities, allowing you to engage with fellow alumni, build lasting connections, and collaborate on new ideas. With tailored learning paths and one-on-one coaching, you’ll receive personalized guidance to advance your entrepreneurial journey. Stay engaged and informed by subscribing to our newsletter and email list for updates on upcoming classes and events.
Join the Mastermind Series to continue growing your skills, connect with fellow alums, and take your business to the next level!
Course
The Wealth Within Coaching Program is a transformative 6-week group coaching experience designed for aspiring entrepreneurs ready to break free from the 9-5 grind and step into their true potential. This program tackles the root causes of limiting beliefs around money and self-worth—what we call “thought viruses.” These fears and doubts often keep you stuck in a scarcity mindset, blocking your path to success. Through guided coaching, you’ll build a strong, abundance-focused mindset, craft a compelling vision for your entrepreneurial journey, and gain support from like-minded professionals. Start your journey to prosperity on September 19th.
Intro to QuickBooks for Entrepreneurs
Master the essential skills to effectively manage your business finances with QuickBooks for Entrepreneurs. This hands-on class teaches you how to set up and navigate QuickBooks, track income and expenses, manage invoices, and generate financial reports. This course will help entrepreneurs streamline their accounting processes, improve cash flow management, and make informed financial decisions to grow their businesses. Whether you’re new to QuickBooks or looking to enhance your existing knowledge, this class will equip you with the tools and confidence needed to take control of your business finances.
2024 Government Filing Requirements: Beneficial Ownership Reporting
In this essential course, you’ll learn about the new Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA). The CTA aims to prevent the misuse of shell companies, protect against fraud, and promote transparency. Designed for business owners, corporate officers, and compliance professionals, this course will guide you through the critical filing requirements and deadlines to ensure compliance. You will gain practical insights to safeguard your business and avoid potential penalties for non-compliance. This course is part of the Mastermind Series. Sign up now to stay ahead of regulatory changes and secure your business.
