The Executive Leadership Council (ELC)’s Post

Launched in October 2020, Village Retail sells consumer goods exclusively produced by Black entrepreneurs. Items include apparel, men’s and women’s accessories, books, fragrances, hair care products, and nutritional supplements. Village Retail uses a sales-percentage model; Hallmon charges for in-store placement and takes a percentage of final transactions. She opened the store for small business owners damaged during the pandemic and needed in-person product visibility. More importantly, Hallmon says she fulfilled her mission to begin a trend of circulating dollars within the Black community. Hallmon estimates the shop alongside the Village Market, a quarterly marketplace she developed in 2016, generated about $8.3 million for Black entrepreneurs. That’s up from $4.5 million since the first year. Additionally, she says Village Retail averaged just over $1 million in sales over the last two years. That includes income from e-commerce sales and Village Retail’s lifestyle brand. We love this 🫶🏽. Building the community up as we grow too 🙏🏿 #blacksuccess #successmindset #successminded #blackentrepreneurs #blackentrepreneurship #community

Owning a business has many metaphors. Basketball, chess, marathon, a boxing match; the list can go on. This last year has been full of wins and non-wins... OK, let's be honest. Losses. Failures. As I always tell my team, these challenges don't define us. Define yourself by the way you address it. When I read this article through the eyes of "big business", it sounded like I was playing a victim, complaining even. When I had my team read it. They said it read just like we felt it, challenge and frustration on every turn. There are no filters when it comes to the work it takes to take your passion to the next level. We will pivot and shoot the three, move our bishop to check, pass mile 25 with a smile on our face and take a hook to the body and continue to do the best we can with what ever challenge comes next. #behonest #beresilient #grit #entrepreneurship https://lnkd.in/g24Fvdd3

Let's rewind to 1916 when Clarence Saunders, an ambitious entrepreneur, accidentally revolutionized grocery shopping. He opened the first self-service store, Piggly Wiggly, in Memphis, Tennessee. Before Saunders' brainchild, shoppers handed lists to clerks who gathered goods from the store shelves. Saunders' concept of customers serving themselves was mocked initially but it swiftly led to less staff needed and lower costs, revolutionizing the retail sector. What started from an unforeseen idea became the prototype for supermarkets as we know them today. Piggly Wiggly was the first to provide checkout stands, price marking every item in the store, and shopping carts! This story, however, had its ups and downs. Saunders later lost control of Piggly Wiggly in a battle with Wall Street speculators. While he won an initial fight against a bear raid (short sellers), he ultimately lost his company due to debt from buying shares to ward off the bears. Innovation can come from anywhere, even mistakes or misjudgments. Saunders' fluke transformed into an industry standard. Nevertheless, his subsequent loss of Piggly Wiggly teaches us to balance innovation with practical financial acumen. #Innovation #RetailRevolution #PigglyWiggly #BusinessStrategy #FinancialAcumen #Entrepreneurship #businesshistory

I was so sad (though, I suppose, not entirely surprised), to read this. The Body Shop is appointing administrators. It's sad, because the brand was one of the first brands to show other businesses that you could absolutely change the world for the better, whilst still being profitable. It's unsurprising though, because it's pretty clear the brand lost its way a while ago (through no fault of many there that I am sure have worked tirelessly to save it). The Body Shop was one of the pioneers of 'business, done better' at huge scale and was an enormous inspiration to many of us. Dame Anita Roddick was clearly a force of nature, who showed us what it means to blend activism with entrepreneurship and succeed. Her story is fascinating, and I would encourage you to read her book, 'Business as Unusual'. It was one of the first business books I ever read. Clearly some of that stuck with me! Anita had many quotes that resonated, but this really speaks volumes: "The business of business should not just be about money, it should be about responsibility. It should be about public good, not private greed.” Okay, and this one. “Whatever you do, be different – that was the advice my mother gave me, and I can’t think of better advice for an entrepreneur. If you’re different, you will stand out.” It looks like they expect to salvage at least some of it, so fingers crossed they can and that not too many people lose their jobs. https://lnkd.in/gj5EZG7G #bodyshop #sustainablebusiness

Flashback to 2015, as I was featured in a wonderful Birmingham Business Journal article relating to the expansion of my then, lifestyle blog, and what eventually became a small yet successful BizOps consultant business - short for Business Operations - a brand that even landed me a few international client contracts. ✍🏽 In the article, I highlighted my plans for regional pop-up shops and events across the Southeast. Most interest came from partnering with popular existing businesses such as coffee shops and my favorite of them all, partnering with breweries for pop-up events! 🍺 The most important part of the Business Journal sit-down feature, was my take on the future of Birmingham's then emerging start-up, creative and tech scenes', industries that are now known nationally for sparking strong revitalization efforts and robust economic development numbers. 🏗 It's a joy to look back on all the city and regional growth and the countless months and years (even decades), of Believing in Birmingham, although then, many of the community, city, and business leaders had to fight tooth and nail to spread that vision, I'm proud of what we have here now, today in 2024. It wasn't an easy ride (a ride that I started as a teenager), but it's a reminder to never give up if you're trying to build or rebuild something new or special! 💭 #community #city #businessleaders #startup #BizOps #businessoperations #business #leaders #operations #revitalization #economicdevelopment #regional #regionalplanning #birmingham #birminghamalabama #throwbackthursday #creative #techcommunity #featured #communitydevelopment #nonprofit https://lnkd.in/gjJapu2C

Shopping beyond few SKUs was never fun (both for grocer and customer) but on 4th Jun 1937 it changed forever for better ...... The world's first shopping carts were introduced at Humpty Dumpty grocery stores in Oklahoma City, Oklahoma. In 1937, Sylvan Goldman, an Oklahoma grocer, faced a business problem: the women shopping at his grocery stores stopped when their hand-carry baskets were full. Seeking a solution to increase in-store sales, Goldman pondered how to make it easier for his customers to shop. He realized that with a bigger basket, his customers could buy more. Since such a basket would be too heavy to lift, Goldman put it on wheels, using a folding chair for the frame. Although his prototype was somewhat clunky, Goldman believed it was sufficient for a market test. However, like many entrepreneurs, Goldman found that his target market was resistant to change. Women said the cart reminded them of pushing a baby carriage, and men felt it wasn’t "manly" to push a cart. Undeterred, Goldman hired male and female "ringers" to shop with carts and added a greeter to offer carts to shoppers as they entered the store. The strategy worked. The carts gained acceptance, and Goldman patented his invention, eventually becoming one of Oklahoma's philanthropic multimillionaires. Goldman also aimed to grow his business by providing better service to his customers. Demonstrating entrepreneurial foresight, he licensed his shopping cart patent to a company that improved the product into the telescoping baskets we use today. #Innovation #Entrepreneurship #RetailHistory

Have you been thinking of taking your online store into a physical space? It's a big step, yet almost 4500 businesses took their first step onto the UK high street in 2023 (according to Statista ) Building a community online is a really effective way of selling online but a building a community on the high street is a whole other ball game. Having in-person conversations, brightening someone's day with a smile, helping your customers with their buying decisions, being asked your advice on products and services, serving food and drink - all of these personal interactions can make for a fulfilled life. Current high street retailers - share with us your best moment with a customer this week ⬇ ⬇ ⬇ #highstreet #retail #entrepreneurs

From a Kid Having Fun In Target’s Aisles…  To Selling Millions Of Our Bars In Their Stores... Last night I was walking back to my hotel in Boston. At 8 PM, I stepped into a Target, just like I did countless times as a kid. But this time, it wasn’t just for the thrill of browsing—I had a purpose. I wanted to see if our new Crunchy Peanut Mid-Day Squares, Had made it in the fridge. And there it was, in two different spots. As a kid, Target was the destination I always begged my parents to take me to whenever we traveled to the USA. It was usually a fun highlight of our trips—a place where every aisle was packed with fun products, where I discovered things I never knew I wanted. Never in my wildest dreams did I think that one day I’d be walking those same aisles, Not just as a shopper, but as someone whose product was on those shelves. Now as a partner/supplier of Target. Two years ago, Target took a chance on us. They believed in us when we were just getting started in the USA. Fast forward to today, and we’ve sold many millions of bars in their stores. Standing in that aisle, seeing the product we created on the shelves, Was a powerful reminder of how far our team has come. The journey from a kid dreaming in those aisles to an entrepreneur with a product on them… It's a full-circle moment that shows just how unpredictable the journey of life can be. #entrepreneurship #retail #grocery #sales #cpg #foodandbeverage #chocolate

Laurian Venter, our Sales Director, emphasises that in today’s dynamic business landscape, an omnichannel strategy is not just a competitive advantage; but a lifeline for entrepreneurs navigating challenges and building resilient businesses. “Vusani’s success with Native Décor is a testament to this and we are proud to have played a part in unlocking avenues for growth for his business and other SMEs.” Read the full article here: https://lnkd.in/d6dYbHhr