Black Entrepreneurship Insights

The Postmaster Who Stood Her Ground — and the President Who Refused to Bow to Racism In 1891, Minnie M. Cox became the first African-American woman appointed postmaster of Indianola, Mississippi. By every measure, she excelled. Under her leadership, the post office became known for efficiency, modern service, and professionalism that earned praise from citizens and federal officials alike. But excellence wasn’t enough to overcome hatred. By the early 1900s, white supremacist sentiment in Indianola intensified. Some residents—angered not by her performance, but by the idea of a Black woman holding federal authority over them—began a pressure campaign to force Cox out. Despite her spotless record, threats and intimidation escalated until she felt she had no choice but to resign. President Theodore Roosevelt saw her removal for exactly what it was: an act of racial injustice and an assault on federal authority. Roosevelt refused to accept her resignation. Refused to replace her. Refused to let mob pressure dictate federal appointments. When Indianola residents still refused to allow her return, Roosevelt took an unprecedented step: he closed the town’s post office entirely, rerouted all mail 30 miles away to Greenville, and kept Cox on the federal payroll the entire time. Indianola suffered economic and reputational consequences. The message was clear—the federal government would not reward racial intimidation. National attention followed, and embarrassment pushed the town to back down. Cox was reinstated, though she later chose to move on to new ventures. And she didn’t simply move on—she built an empire of financial empowerment. Along with her husband, she co-founded the Delta Penny Savings Bank and the Mississippi Life Insurance Company, two of the most successful Black-owned financial institutions in the state. Her work helped lay the foundations for Black economic mobility in the Delta for decades. Minnie Cox’s story is more than history. It’s a lesson in leadership, resilience, and the power of standing firm when it matters most—even when the world insists you shouldn’t. #Resilience #Leadership #BlackHistory #Courage #TheHistoriansDen #AmericanHistory

📚 Educational Write-Up: Lillian Harris Dean (“Pig Foot Mary”) Lillian Harris Dean is a powerful example of Black entrepreneurship, resilience, and economic ingenuity during the early 20th century. Born in the Mississippi Delta, she was part of the wave of African Americans who migrated north during the Great Migration in search of better economic opportunities and freedom from the oppressive conditions of the Jim Crow South. 🔑 Humble Beginnings After arriving in New York City, Lillian Harris Dean worked as a domestic laborer. Like many Black women of her time, her opportunities were limited—but she refused to stay confined to low-wage work. With determination and creativity, she made a bold move: • She purchased a used baby carriage • Instead of using it for a child, she turned it into a mobile food cart • She began cooking and selling pig’s feet and traditional Southern foods 🍲 Turning Survival into Success Her food quickly gained popularity. Known for its flavor and authenticity, her cooking attracted a steady stream of customers. She became widely recognized and earned the nickname “Pig Foot Mary.” What started as a simple street hustle became something much bigger: • She built a profitable food business • She invested her earnings into real estate • She became financially independent in a time when both racial and gender barriers were extreme 💡 Why Her Story Matters Lillian Harris Dean’s story represents: • Black economic self-sufficiency • Innovation under pressure • The tradition of street vending as a pathway to wealth • The reality that many Black Americans built success from very limited resources Her journey reflects a broader truth: Even in systems designed to limit opportunity, Black Americans have consistently found ways to create, build, and thrive. ⸻ 🔥 Key Takeaway She didn’t wait for opportunity—she created it. From a baby carriage to business ownership, her story is a blueprint of resilience and resourcefulness.

SPOTLIGHT ON EFFECTIVE LEADERSHIP: FREDERICK DOUGLAS PATTERSON Before Henry Ford ever flooded the country with Model Ts, a Black man from Greenfield, Ohio was building high-quality automobiles by hand; at a time when Jim Crow laws made simply walking through the front door of a bank nearly impossible for a Black man. His name was Frederick Douglas Patterson, and in 1915, he became the first African American to manufacture automobiles. His company, C.R. Patterson & Sons, started with horse-drawn carriages and transitioned into automobiles with the Patterson-Greenfield car; a sleek, reliable, hand-assembled vehicle that could go toe-to-toe with anything Ford was producing at the time. But America wasn’t ready to let a Black man into the driver’s seat of capitalism. Despite his brilliance, craft, and a fully functioning auto assembly line, Patterson could never secure the funding to scale. Banks refused him. Distributors wouldn’t carry his vehicles. The American auto industry shut him out; not because of the quality of his product, but because of the color of his skin. So he pivoted. Like so many Black pioneers who weren’t allowed to dominate, he survived by innovating. Patterson shifted his focus to building buses and trucks, winning contracts from school districts and municipalities across the Midwest. He didn’t just build vehicles; he built jobs, pride, and a vision for Black self-determination in an age of white control. This is not a footnote in history. This is a chapter that was buried. Frederick D. Patterson didn’t invent the car. But he broke barriers as the first Black auto manufacturer in America; and his legacy lives on as a testament to what Black innovation could have achieved if given the same access, capital, and exposure as his white contemporaries. Remember his name. “Frederick Douglas Patterson”

Women's History Month: Do you know the story of Barbara Gardner Proctor? She was a pioneering African American businesswoman and one of the first Black women to own and lead a major advertising agency in the United States. Born in 1930, she built her early career at firms like J. Walter Thompson and BBDO, where her talent stood out despite the racial and gender barriers that defined the industry. After being dismissed during the 1960s amid client bias, she transformed that setback into opportunity by founding Proctor & Gardner Advertising in 1970, creating a space where diverse talent could not only exist but lead. Her impact went beyond entrepreneurship; she actively advanced women’s rights in business by challenging the norms that limited women, especially Black women, to support roles. At a time when leadership positions were overwhelmingly held by men, Proctor placed women in visible, decision-making roles within her agency, helping redefine what authority and expertise looked like in corporate America. By building a firm that valued inclusion and merit, she demonstrated that women could lead major accounts, drive strategy, and influence national brands just as effectively as their male counterparts. Proctor also understood that representation alone was not enough; access and opportunity had to follow. Through mentorship and intentional hiring, she helped open doors for women navigating an industry that often excluded them. Her presence as a successful CEO on LaSalle Street sent a powerful message: women, including Black women, belonged in the highest levels of business. In doing so, she not only broke barriers for herself but also helped shift expectations for generations of all women pursuing leadership in corporate America.

You've never heard of them. But they were backing Black entrepreneurs when Wall Street wouldn't return their calls. The Pullman Porter Pension Fund. A union pension fund for Black railroad porters wrote a $500,000 check to help launch a commercial airline in 1987. Most institutional investors wouldn't touch it. They did. And they understood something Wall Street still hasn't figured out. Pullman Porters were the Black men who worked the sleeping cars on American railroads. They served white passengers for decades. Built one of the strongest Black labor unions in America. Created a pension fund to protect their retirement. Then they did something radical with that capital. They invested it in Black entrepreneurship. Late 1980s. A 30-year-old named Michael Hollis wants to start a commercial airline. Traditional investors won't touch it. The Pullman Porter Pension Fund writes a check for $500,000. That early credibility helped him raise $90 million total. Air Atlanta launched. Passengers loved it. When Wall Street later broke financing promises and the airline closed, it wasn't because the porters made a bad bet. They saw what institutional capital couldn't. Here's what that $500,000 check represented: Working-class Black Americans investing in the next generation. Not charity. Not symbolic gestures. Capital deployed with the same rigor as any institutional investor, but with the courage to back founders everyone else overlooked. They understood something fundamental: You can't build wealth for your community if you won't invest in your community's builders. Most of those funds faded as institutional priorities shifted. As "diversity investing" became trend-driven rather than conviction-driven. But for a moment, they proved something Wall Street keeps forgetting: The best opportunities hide where traditional capital refuses to look. Thirty years later, I'm raising Fund II with the same conviction the Pullman Porter Pension Fund had: The next generation of exceptional founders will be overlooked by traditional capital. Not because it's the right thing to do. Because the returns prove it. Working-class Black railroad porters understood this in 1987. When will Wall Street?

The Impact of Black Women in Business & Leadership Black women have been powerhouses in business and leadership for centuries, shaping industries, breaking barriers, and creating opportunities where none existed. Their journey has been marked by resilience, brilliance, and an unshakable determination to succeed despite systemic obstacles. Take Madam C.J. Walker, a visionary entrepreneur who became the first self-made woman millionaire in America by revolutionizing the beauty industry. She didn’t just build wealth—she created jobs, empowered Black women economically, and paved the way for future generations. Today, and we see leaders like Rosalind Brewer, CEO of Walgreens, and Thasunda Brown Duckett, CEO of TIAA, steering billion-dollar companies with excellence. Bozoma Saint John, a marketing genius, has shaped global brands, while Janice Bryant Howroyd, the first Black woman to build a billion-dollar company, redefined what’s possible in business. Yet, their paths are not without struggle. Black women are the fastest-growing group of entrepreneurs, yet they receive less than 1% of venture capital funding. In corporate America, they are often underrepresented in executive roles and face both racial and gender biases that make leadership an uphill battle. And still, they rise—defying odds, setting new standards, and proving that diversity in leadership is not just a concept but a necessity. Their impact is undeniable: 🔹 Economic Growth: Black women-owned businesses generate billions, creating jobs and driving innovation. 🔹 Corporate Leadership: They are transforming industries, advocating for equity, and proving that representation at the top matters. 🔹 Legacy & Inspiration: Their success stories empower future generations to dream bigger and push further. "I had to make my own living and my own opportunity! But I made it!" Madam C.J. Walker This Black History Month, let’s not just celebrate Black women in leadership—let’s invest in them, amplify their voices, and ensure their contributions are recognized all year long. #CNJAssociates #BlackHistoryMonth #BlackWomenLeaders #WomenInBusiness #BlackExcellence

August is Black Business Month, and I’m excited to spotlight trailblazing entrepreneurs who have broken barriers and created opportunities. Let’s start with some groundbreaking African American developers: ▪️Moses McKissack III & Calvin McKissack My grandfather and great-uncle founded the first McKissack architecture and engineering firm 120 years ago in Tennessee. They led projects like College Hill, Nashville’s first major African American housing development, which secured the largest loan ever awarded to a Black developer at the time. ▪️Philip A. Payton Known as the “Father of Harlem,” Payton founded the Afro-American Realty Company and helped make Harlem a Black cultural hub. In 1917, he closed a landmark $1 million deal for six apartment buildings. ▪️Madam C.J. Walker  Walker is best known for building a beauty empire that made her the first self-made Black female millionaire, and real estate also played a key role in her success. She owned properties like Villa Lewaro, a Harlem townhouse for her beauty school, and an Indianapolis building that housed her home, salon, and factory. ▪️James “Jim” Chase Jim Chase was the first Black mayor of Spokane, Washington.  Elected in 1981, he launched the “1% for Art” program, dedicating a portion of city construction budgets to public art. Before his time in office, he led the local NAACP, pushing for investigations into housing and employment discrimination. ▪️Victor MacFarlane Victor MacFarlane is a trailblazer in urban and smart-growth development, with four decades of experience. He’s invested over $20 billion in real estate, with many projects prioritizing affordability and transit access, reflecting his commitment to strengthening the communities he serves. ▪️Don Peebles Peebles, who coined “Affirmative Development,” is empowering minority- and woman-owned businesses. His Affirmation Tower project aims to be the world’s tallest majority Black-owned building. ▪️Jim Reynolds Jim Reynolds is the founder of Loop Capital and co-founder of JLC Infrastructure with Magic Johnson Enterprises. JLC is a key investor in The New Terminal One at JFK, which is exceeding 30% M/WBE participation. ▪️Quintin Primo Quintin E. Primo III, co-founder and CEO of Capri Capital Partners, is one of the few African Americans leading at the highest levels of commercial real estate. Known for breaking barriers and developing overlooked markets, he’s now focused on transforming Chicago’s Central Business District and building a $300 million D.C. development that will house the NAACP’s headquarters and cultural venues. There are a lot of groundbreakers in this post, and this is only the beginning. Follow my page and McKissack & McKissack’s company page for more Black business leaders all month long. #BlackBusinessMonth #leadership #AEC

Madame CJ Walker was not the first self-made black Female Millionaire! Day 1: Many people know about Madam C.J. Walker, but fewer know about Annie Turnbo Malone, the pioneering Black entrepreneur who built a multimillion-dollar beauty empire before Walker. Born in 1869, Malone was a chemist and businesswoman who developed "Wonderful Hair Grower," a scalp treatment for Black women’s hair. She built Poro College in 1918, a massive beauty school and business training center in St. Louis, employing thousands of Black women and creating economic opportunities at a time when options were limited. In 1918, she established Poro College, a cosmetology school and center. The building included a manufacturing plant, a retail store where Poro products were sold, business offices, a 500-seat auditorium, dining and meeting rooms, a roof garden, dormitory, gymnasium, bakery, and chapel. It served the African-American community as a center for religious and social functions. The college's curriculum addressed the whole student; students were coached on personal style for work: on walking, talking, and a style of dress designed to maintain a solid persona. Poro College employed nearly 200 people in St. Louis. Through its school and franchise businesses, the college created jobs for almost 75,000 women in North and South America, Africa and the Philippines Malone’s innovative marketing and business strategies laid the foundation for Black women in business. Though Madam C.J. Walker worked for Malone before launching her own company, Malone’s legacy remains underrecognized despite her groundbreaking contributions. Why It Matters: Annie Turnbo Malone demonstrated excellence in business, philanthropy, and community uplift, setting the stage for future entrepreneurs. She donated millions to HBCUs, orphanages, and charities, leaving an indelible mark on History. 🤔 Had you heard of Annie Turnbo Malone before? Let’s celebrate the innovators that history often forgets! #BlackHistory #WomenInTech #StLouis

Maggie Lena Walker's leadership of the Independent Order of St. Luke and founding of the St. Luke Penny Savings Bank nurtured economic power in her community through cooperative economics and mutual aid. Her innovative approach to combining banking, insurance, and retail businesses created jobs while building Black economic independence. The founding of St. Luke Penny Savings Bank emerged from Walker's deep involvement with the Order of St. Luke, where she rose from a teenage member to become the Right Worthy Grand Secretary in 1899. Under her leadership, the organization grew from near bankruptcy to having over 100,000 members in 24 states. This success gave her the platform and experience to launch more ambitious economic projects. In 1905, Walker expanded her economic vision by launching the St. Luke Emporium, a department store in Richmond's Jackson Ward district. The store challenged the humiliating treatment Black shoppers faced at white-owned establishments. Black women could try on clothes before buying them – a simple dignity denied them elsewhere. The store's Black employees could work as sales clerks rather than just janitors or stock workers. Maggie Lena Walker died in 1934, but her impact continues through the institutions she built and the people she trained. She proved that economic cooperation could be a powerful tool for social change, and that banking could be both profitable and purposeful when rooted in community needs. Her life's work showed that economic justice wasn't just about access to existing institutions – sometimes it required building new ones. #blackhistorymonth

Black History Month | Day 15 – Did You Know? Today’s spotlight is on Annie Turnbo Malone, an innovator who built systems, not just products. Annie Turnbo Malone was a chemist, entrepreneur, and philanthropist who created one of the first nationally successful Black-owned beauty companies, before the industry had language for scale, distribution, or brand strategy. She developed safe, science-based hair products at a time when options were limited and often harmful. But her real innovation went further: • She built a training pipeline for Black women • Created a nationwide sales network • Established a manufacturing and distribution system • Invested heavily in education and community uplift Before her work: • Economic opportunity for Black women was narrow • Professional training was scarce • Ownership at scale felt unreachable After her work: • Thousands of women gained financial independence • Beauty became a pathway to entrepreneurship • Community wealth creation became possible This wasn’t a side hustle. It was enterprise architecture. As we continue Black History Month, we honor builders who didn’t just create products—they created pathways. Before we talked about empowerment, she built the infrastructure for it. — Teri #BlackHistoryMonth #Leadership #Innovation #HiddenFigures #Entrepreneurship #BlackInBusiness