Nearly one hundred African American entrepreneurs, business owners and thought leaders joined the board of directors to make history launching the newly formed Central Virginia African American Chamber of Commerce (CVAACC). The standing room only crowd united to kick off the organization’s official ribbon cutting ceremony which was held on October 24, 2013 at the Virginia Museum of Fine Arts in Richmond Virginia. Entrepreneur and winner of NBC’s The Apprentice, Dr. Randal Pinkett was the keynote speaker.
“It is an honor and a privilege to be a part of this launch. Let us not diminish the significance and importance of this historic moment and why we are gathered here,” said Randal Pinkett, Ph.d, Chairman and CEO of BCT Partners, “rallying around this idea of black business entrepreneurship, economic impact, empowering our community and job creation. It fills my heart and I am so encouraged.”
“I appreciate that this Chamber is not being formed with the intent of seeking handouts, set asides or anything being given to us, but for us to have our fair share of the economic pie just like everyone else,” Pinkett emphasized.
Pinkett said that he was not there just as a speaker, but also as a proud, black business owner. He, along with three other Rutgers University students, formed their business 20 years ago. Pinkett is co-founder, chairman and chief executive of BCT Partners, a multimillion-dollar management consulting firm that specializes in information technology, organizational development and public policy. He has established himself as an entrepreneur, speaker, author and scholar, and as a leading voice for his generation in business and technology. BCT Partners has formed five ventures and is headquartered in Newark, New Jersey.
Pinkett shaped his message to challenge entrepreneurs to work collectively and to reach scale. He titled his remarks: “Finding Strength in Numbers and Reaching Scale, Combining Old School Solidarity With New School Sophistication”. He discussed the implication of industry forecasts and marketplace trends. Pinkett said the business climate is in the midst of an era of consolidation where long-standing, multi-national corporations are declaring bankruptcy, being merged, acquired and consolidating in almost every industry. His short list of examples included: American Airlines and US Airways, Pfizer and Wythe, Comcast and NBC, Bank of America and Merrill Lynch, Sprint and Nextel, HP and Compaq, Federal Express and Kinko’s, and XM and Sirius Radio.
“Some call it globalization, others call it the ‘McDonald’s-lization’ of the marketplace, some call it the ‘Wal-Mart effect’,” Pinkett said. “No matter what you call it, compared to just a few years ago, there are fewer players and those who remain are larger today. The implication is that now more than ever before, size matters. Whether we like it or not, it’s becoming more difficult to be small and still be able to compete. The ability to grow and reach scale is of paramount importance to all of us.”
CVAACC member, Wayne Baugh thought Pinkett’s comments were on point.
“We just merged with a partner, so his message fell in line with where we are headed,” Baugh said, “I feel more empowered now than when I walked through the door.”
The second trend Dr. Pinkett suggested which is having a distressing impact on the business climate is a societal issue. He believes that certain segments of society have become more individualistic. People have become more centered on individual agendas rather than collective agendas.
“Arguably at the root of the debate is that many people don’t want to give up individually what could benefit others collectively, particularly within the African American community. I’m not suggesting that we aren’t willing to work with each other,” Pinkett clarified. “Clearly, we do. But, as it relates to when money is involved, the hurdles can be higher and the obstacles can be more numerous when it comes to working together.”
Pinkett pointed to two professions, sports and entertainment, to make his point. He illustrated the dynamic in the National Basketball League where there has been difficulty with personal agenda. There has been tension between the individual players’ agendas of making money and a teams’ collective agenda of winning a championship.
In entertainment, Pinkett said the landscape of rhythm and blues has become saturated with individual artists. It used to be the exception, now soloists are the norm. He named a few groups like: Michael Jackson and The Jackson Five, Diana Ross and The Supremes, and Earth, Wind and Fire. In the 1990’s, groups such as: EnVogue, TLC, SWV, GUY were formed, and they remained intact. They formed what he called ‘old school solidarity’ where groups come together and stay together.
“There are several factors which undermine our ability to come together today,” Pinkett explained, “Money and ego impede our ability to succeed together. It only exacerbates my first trend of industry consolidation.”
Pinkett’s final trend acknowledged the progress of the African American community’s tradition of entrepreneurship and economic empowerment. He said the last few decades have given rise to a brand new generation of African American entrepreneurs who are better prepared, equipped and have the business acumen, more than any other generation that preceded it.
Anthony Selby, general manager of Brickstone Grill, has been a supporter of the new CVAACC since its inception. He said, “I’m from a different generation. We looked up to an idea and respected the generation before us. I fit right in the middle. I’m old school but still cool. I know the balance it takes to relate to both old school and new school. They are two different worlds. You have to be able to stay connected.”
“Our generation has a new school sophistication that piggybacked off of the accomplishments of those who came before us,” reiterated Pinkett, “you’re dynamite because you represent the new school sophistication that we need to combat the imminent trends. We can find strength in growing numbers and reaching scale. I believe these are the building blocks to a successful chamber and to successful businesses.”
Craig Whitmore, a new member, was impressed with Pinkett’s advice. He said it was unique and powerful.
“It was not what I had expected when I walked through the door,” Whitmore said, “I’m glad I could take advantage of the advice on scalability and use it in my business.”
Carlon Zanders, Vice President of Zan’s Refuse, said, “Usually I’m the only African American I see when I network to grow my business. It’s very encouraging to see other business professionals of this background, We can all grow together, put our heads together and help the chamber grow.”
Pinkett concluded by stating that there is strength in smaller numbers. It’s a pattern which replicates itself in business history and holds true and will work for the board of the chamber as the members are invested in its work to see it to success.
Following Pinkett’s remarks, the CVAACC board of directors, along with its Founder and CEO, Ervin B. Clarke, publisher of Urban Views Weekly, conducted the ribbon cutting ceremony, which opened the new chapter of the organization.
“I am looking forward to working in tandem with the members to foster a positive economic development climate for our businesses, provide educational training opportunities and create a vision for the future minority business initiatives,” Clarke said.
“It was a groundbreaking event in the sense that it’s never been done before,” said Jack Gravely, host of The Jack Gravely Radio Show, “I’ve never been to an affair like this. It was exciting to see the number of blacks in the audience and the diversity of business and professionals who attended this event. Dr. Pinkett is a top-notch professional which lets me know that the chamber means business.”
Pinkett said now that the ceremonial ribbon has been cut marking the historic occasion that the real work will begin.
The Central Virginia African American Chamber of Commerce website is www.CVAACC.org. Ervin Clarke, Founder and CEO can be emailed at info@cvaacc.org or reached at 804-441-6255.
