“I hope it leads to more businesses being opened by African-Americans as well as women, minorities, and everybody. Hopefully, we can all have a hand in establishing ourselves,” Johnathan Fox 5 Vegas.
Entrepreneur Johnathan Lacy may have set a new record with his recent 7-Eleven franchise. According to a trade organization, Lacy may be the first Black person to own a 7-Eleven in Las Vegas. The store is located at 3421 East Tropicana Ave and is open 24 hours.
“I sacrificed it all,” Lacy wrote on Twitter. “Put all the bread in one basket. No investors. No outside money. Now I am the first black owner of a 711 franchise in the state of Nevada! Blessings!”
I sacrificed it all. Put all the bread in one basket. No investors. No outside money. Now I am the first black owner of a 711 franchise in the state on NEVADA! Blessings! pic.twitter.com/KApeJzFor9
— 3421 east tropicana ave las vegas nv 89120 (@DJJohnjohn) May 2, 2021
Lacy always had dreams of becoming an entrepreneur. He grew up in South Central Los Angeles and later moved to Las Vegas to be with his retired father. During this time, his entrepreneurial desires became even stronger. But there was only one thing standing in his way: capital.
Lacy studied finance at Cal Poly Pomona. Unfortunately, his degree didn’t prepare him for the obstacles associated with financing a new business venture. Obtaining capital as a young black man without million-dollar assets proved to be difficult.
Over the years, Lacy was inspired to test out different business ideas. He applied for business loans but received several bank rejection letters. Lacy was forced to find another way to make his dreams of entrepreneurship come true.
That’s when Lacy decided to take matters into his own hands. He worked diligently and pursued various job opportunities. Lacy increased his income and was able to save more, providing him the capital needed to invest in his business. After a year of putting his plan into action, he was able to open his 7-Eleven store. Although the journey was filled with ups and downs, Lacy kept going because he wants to inspire the next generation.
“I think sometimes our younger generation is not exposed to enough different things,” Lacy told the Las Vegas Sun. “I would tell people to expose themselves to lots of different things. Get a job to see if you like it — I think we’re all trying to figure that out. Don’t stop until someone tells you no and, even then, just keep pushing and pushing. That’s what I did.”
Now that Lacy has his first 7-Eleven franchise up and running, he’s ready to expand his vision. By the time he’s 40, Lacy wants to own four 7-Eleven franchises. He hopes to more than double his ownership before his 50th birthday.
“I was terrified before I got the keys to this place,” Lacy shared with Las Vegas Sun. “But I’ve gotten so much support, and there’s so much good energy, it gives me more energy. There’s pressure, yes, but I love it. It feels good right now.”
Lacy aims to pave the way for more aspiring business owners in his community. He wants to show people alternative ways to make your dreams come true even if you don’t have investors by your side.
7 min read
This story originally appeared on StockMarket
The stock market is often divided into 11 major sectors representing key areas of the economy. Within each sector, there are a number of different publicly traded stocks that operate in the same broad area. If you’re an investor and want to diversify your portfolio expansively, you’ll then need to own companies across the market.
In light of that, it’s helpful to know the market categorization for each sector. For instance, if you want to have exposure in specific areas of the economy, an exchange-traded fund (ETF) may be a good place to start. But first, what exactly is an ETF? An ETF is a basket of securities, shares of which are sold on the stock exchange. It has become incredibly popular for both active and passive investors alike.
With this in mind, let’s take a look at the 11 sector classifications in the order from largest to smallest. In brief, we will see what each sector is about and a few of the largest ETFs that can be used to gain exposure to that particular industry.
The technology sector consists of businesses revolving around the manufacturing of electronics, software developers, or products and services that are related to information technology. In general, these businesses are driven by upgrade cycles and the general health of the economy, although growth has been robust over the years. To point out, the technology sector is often considered one of the most attractive places to find growth in the stock market.
An investment in health care is exciting. When you invest in the health care sector, you’re actually investing in a broad range of industries. That’s because the sector consists of biotechnology companies, hospital management firms, medical device manufacturers, and many others. In general, the sector is considered to be both a growth opportunity and defensive play since people will require medical aid in both good and bad times. Since it’s the second-largest industry, it’s nearly impossible to have a diversified portfolio without any health care stocks or ETFs in it.
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The financial sector is made up of firms and institutions that provide financial services to both corporate and individual customers. This sector consists of banks, investment funds, and insurance companies, among others. By and large, the majority of the revenue generated by the sector comes from mortgages and loans. Thus, such revenue increases as interest rates rise. The overall health of the economy depends on the strength of its financial sector. In view of the economy rebounding, it may not be a bad idea to have some exposure to some of the financial ETFs below.
The real estate sector consists of companies invested in residential, industrial, and retail real estate. Accordingly, the main source of revenue for these companies comes from rent income and real estate capital appreciation. As the economy continues to rebound, there would undoubtedly be opportunities in the real estate sector. Investors love the sector because of its ability to generate healthy dividends along with capital appreciation.
The energy sector is a category of companies in the business related to the production and supply of energy. The energy sector consists of oil and gas exploration and production companies, as well as integrated power firms, refineries, and other operations. In general, these companies generate revenue that’s tied to the price of crude oil, natural gas, and other commodities. But with the U.S. making combating climate change one of its top priorities, clean energy ETFs have also gained the attention of investors.
The materials sector consists of mining, refining, chemical, forestry, and related companies that are focused on discovering and developing raw materials. Since these companies are at the beginning of the supply chain, it’s natural that their activities tend to move along with the economic cycles. Hence, if you think that the economic recovery is well underway, it doesn’t hurt to have some exposure to this cyclical area of the economy.
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Consumer discretionary is a term to describe goods and services that are deemed non-essential by consumers. To list, this sector consists of retailers, apparel companies, media companies, consumer durables, and consumer service providers. These companies usually benefit from consumers that have extra disposable income to spend, and they may therefore receive a boost with an improving economy.
The industrials sector consists of construction, machinery, fabrication, manufacturing, defense, and aerospace companies. This industry’s growth is driven by demand for building construction and manufactured products such as agricultural equipment. As a result, the performance of these companies in the industrial sector often moves along with the economic cycles.
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The utility sector consists of electric, gas, and water companies as well as integrated providers. In general, many investors treat utilities as long-term holdings and invest in the sector to generate a steady income for their portfolios. It is arguably the most defensive play you can find in the stock market when there is an economic downturn.
The consumer staples sector consists of food and beverage companies as well as companies that create products consumers deemed essential for everyday use. In general, these companies are defensive plays and are able to maintain stable growth regardless of the broader state of the economy.
The telecommunication services sector features cable companies, internet service providers, wireless providers, satellite companies, and many more. Consumers are generally providing recurring revenue for these companies, but some subsets of the industry face rapid change. Investing in individual telecom stocks may present higher volatility, but the telecom sector overall has exhibited reasonable long-term growth.
NBA legend Michael Jordan announced a $1 million donation to enhance journalism and sports-related studies at Morehouse College.
In the past, the billionaire was criticized for his lack of activism in the Black community. But now he’s stepping up to the plate and changing the narrative for Black students. Jordan’s contributions will support scholarship, technology, and educational programming initiatives for students attending the Atlanta-based HBCU.
“Education is crucial for understanding the Black experience today,” said Michael Jordan in a Morehouse news release. “We want to help people understand the truth of our past, and help tell the stories that will shape our future.”
In 2014, Jordan became the first billionaire NBA player in history. He’s putting his fortune to work through initiatives that support the Black Community Commitment. In 2020, Michael Jordan and the Jordan Brand committed to providing more social, economic, and educational justice in the Black Community. The donation to Morehouse College is one way that Jordan hopes to expand opportunities for Black men.
“Morehouse is grateful to Michael Jordan and Jordan Brand for an investment in the education of talented men of color who will ensure there is equity, balance, and truth in the way sports stories are framed and the way the Black experience is contextualized within American history,” said Monique Dozier, vice president for institutional advancement at Morehouse.
Founded in 1867, Morehouse is the only private historically Black college or university dedicated to the enrichment of Black men. The school has been at the forefront of addressing a lack of Black leadership in athletics and sports journalism. Spike Lee, a 1979 Morehouse graduated, launched the Journalism and Sports Program. His goal was to open doors for more Black men in media. Now, the program has graduated over 600 students who are transforming the narrative.
“There’s going to be a rich legacy of storytellers who will be supported by these programs,” Spike Lee shared in a news release. “Many people are influenced to think a certain way about Black folks based on what they see on television and in Hollywood. We’ve got to tell our story.”
Struggles with stress and anxiety can be frustrating, but have you ever considered anxiety to be a positive thing?
In her book, Nervous Energy: Harness the Power of Your Anxiety, clinical psychologist Dr. Chloe Carmichael argues that anxiety is actually a positive that can be used to your advantage. Through simple techniques that make you more aware of your emotions, you can become in control of your anxiety and begin to optimize your mental health for more success. I wanted to share with you three ways you can begin to harness your nervous energy to have a happier and more successful career and life.
As high-achieving individuals, anxiety might seem like something to be ashamed about or to hide, but that couldn’t be further from the truth. The first step to using that anxiety for more success is to acknowledge and embrace it. As Dr. Chloe says, anxiety is actually a healthy function of our brains! Your mind is stimulating preparatory behaviors for what we know will be a stressful event. Once you are able to harness these preparatory impulses effectively, you will find that your anxiety is a plus that will encourage and aid you in your success.
Once you’ve begun to recognize and acknowledge your anxiety, meditation and mindfulness can help you begin to understand it more deeply. Understanding it equips you to soothe your emotions, tackle the stressor, or do whatever needs to be done in order to address the anxiety. By practicing mindfulness and meditation, we are able to listen deeply to our anxiety and what actions it’s calling us to do. Dr. Chloe teaches mindfulness and a few different simple breathing techniques in her book that will help you stay grounded.
Naming your emotions sounds simple, but it might be more difficult than you think. One technique Dr. Chloe suggests is to list out your to-do list for the day, and label each task with the emotion you feel. Knowing what your emotional state will be during each activity can help you prepare effectively for the event, and is a great way to channel those anxious feelings into tangible actions.
As busy entrepreneurs with fast paced lives, we may be prone to only see how our anxiety and stress holds us back– and overlook the secret of how it can actually propel us forward. I challenge you to see anxiety as a potential superpower that, when harnessed correctly, can drive you to do bigger and better things than ever before.
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