SuccessNet Series Aims to Generate Wealth in the Black Community

Some of the key solutions  to uplifting disadvantaged communities of color and amassing wealth were presented on Thursday, March 17  at the 2011 SuccessNET Quarterly: “Connecting Generations” launch.  The event was held at the Alhambra Ballroom in Harlem and featured guest motivational speaker Iyanla Vanzant.

The project marks an intergenerational partnership between FraserNet, Inc. Chairman and CEO George C. Fraser along with Frank Waters and Henry Nelson, president and vice president of 1209 Enterprises, LLC, a business networking organization that assists business owners, entrepreneurs and industry professionals.

Fraser, who is one of the most respected authorities on networking and wealth creation, spoke with rolling out about the financial and business state of Black America. ­— souleo

There has been a breakdown in communication between generations.  Do you see this as a major obstacle to building wealth in the Black community?

We put on programs to bring together the X, Y and Z generations, so people in our community of all generations come together and learn from each other and network.  There [aren’t] enough elders welcoming in younger generations and passing on knowledge.  We must do better.  We’re not doing what we ought to be doing and we need our leaders to inspire us to do that.

Some believe that there are no significant leaders in the Black community to galvanize the people like Martin Luther King, Jr. and Malcolm X.

I think this is good.  We kill our leaders.  We killed Malcolm X and Martin was killed.  When something happens to a single leader, we become discouraged and dispersed.  Now, we have Frank Waters and Henry Nelson of  They are young leaders.  I’m an elder and I went to find young leaders I could partner with, because, at some point, I won’t be here.

The recession is taking a major toll on the Black community.  What lesson do you believe we can learn from these hard economic times?

This is the period in our lives in America where we must become more entrepreneurial and create work and jobs for our people.  That’s the only way to raise the poor.  This economy has pushed us in this direction.  God is telling us to be more creative and build more businesses to employ our own people.  This is what other cultures and groups are doing but not us.  It takes teamwork to make the dream work.

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George C. Fraser,

The column, On the “A” w/Souleo, covers the intersection of the arts, culture entertainment and philanthropy in Harlem and beyond and is written by Souleo, founder and president of arts administration company, Souleo Enterprises LLC.

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