The 10K Project is a membership based platform created by a team of people who are highly designated in one profession or the other; Cheree Warrick, Chief Executive Officer, Tawana Rivers, Chief Operating Officer, Talisha Shine, Chief Technical Officer, Eric Spence, Chief Business Development Officer, Dr. Kecia Waddell, Chief Instructional Officer, Angel Johnson, Project Director, Layla Griffin, Instagram Lead. The 10K Project is the place where small investors can find innovative, black-owned companies to invest in. The Project designs an ecosystem to provide community with all the assets needed to become successful entrepreneurs and astute investors. Individual become members of the community by completing a simple application and paying a one-time fee of $100. This one-time fee gives lifetime membership and access to the Investor 101 training.
It’s very simple. If 10,000 people invested $100 each into a business, we could raise $1 million, fund our own companies, and profit from our own innovation.
Think we can’t make a big impact with small dollar donations? Think again. This community was built on small donations. People gave small donations to help Dr. King fight for Civil Rights. Some of the most successful political campaigns have an average donation size of $20-$30. Tyler Perry’s plays and movie ticket sales (generally $10-$30) helped him build a billion-dollar empire. We have a history of success with small dollar donations and investments.
The 10K Project is the place where small investors can find innovative, black-owned companies to invest in.
It encourages you to get the ebook and read about the vision, learn more about the team, discover how the team members have structured The 10K Project and why the project is the next step to building black wealth.
How it works
Every week, the community features a business that’s seeking funding. The entrepreneur presents his or her business to us in a virtual setting. He/she talks about their product or service, the total addressable market, their financials, how much they are raising, what they intend to do with the money and more. (NOTE: The project select innovative, black owned businesses from multiple industries including technology, real estate, beauty, health, food, manufacturing, professional services, and more).
The entrepreneur offers shares in their company (equity) or debt in exchange for investment.
Each investor decides if he/she wants to invest in the company in exchange for equity. Each investment is done on an individual level. If you like a pitch and it works for your portfolio, then you invest your own money. If the investment doesn’t work for your portfolio, then you have the right to pass. You have 100% control over the companies you choose to support.
If 10,000 people place $100 each into the business, the entrepreneur would receive $1 million in funding. (A business doesn’t have to raise $1 million. Smaller amounts can be raised.)
Once funding is raised, we want our businesses to have the support they need to grow. The 10K Project is partnering with organizations (large and small) that can help our businesses achieve a competitive advantage in the marketplace. These organizations will help our funded entrepreneurs locate professionals who can help them including attorneys, accountants, digital marketers, business strategists, commissioned salespeople, and more.
Companies repay investors when they have a liquidity event. This happens one of 3 primary ways: 1) they sell the company, 2) they do an Initial Public Offering (IPO), or 3) they become profitable and pay dividends to investors.
Becoming a Member
It’s simple, once you are over 18 years of age you can invest. However, if you are younger, a parent could invest in your name by setting up a Uniform Transfers to Minors account (UTMA) or a trust. Consult a financial advisor for more information on UTMA accounts. And you are already half way there. Click the Membership button on the website to join. Pay a $100 lifetime membership fee and get your seat at the table! Gain access to cutting edge investment opportunities within the Black community. You also get access to investment education, tips and trainings on how to close the wealth gap.
BECOME A MEMBER TO
SECURE YOUR SEAT AT THE TABLE
The project is organizing the largest group of black investors in the world. The 10K Project helps entrepreneurs raise money through crowdfunding. Crowdfunding portals are regulated by the Securities and Exchange Commission.
The team is in need of true pioneers who are willing to put $100 each as a Founding Member. The funds will be used to build our platform and help us market the community to more than 1 million prospective members.
You’ve heard the saying “The rich get richer.” For years, the rich had access to VC opportunities which has enabled them to double their money every 4-5 years. (We cannot guarantee these returns. These are average returns for accredited investors participating in private equity). The JOBS Act of 2012 changed that.
Before the JOBS Act, companies offering equity in their early stage startups weren’t allowed to solicit the average investor. Investors like us were excluded from a lot of opportunity.
The JOBS Act enabled normal people to become equity investors through equity crowdfunding. The law states that companies can raise up to $1,070,000 from unaccredited investors (which most of us are).
For more enquires and more information, you can visit the website here: