We were lucky to catch up with Kwame Egerton II recently and have shared our conversation below.

Hi Kwame , thanks for joining us today. Talk to us about building your team? What was it like? What were some of the key challenges and what was your process like?

The Black Currency consisted of two people at the start, my Co-Founder Ackeem and I. We both studied at Syracuse University and met on the first day on campus. Of course it was playing basketball in the gym. We were on opposing teams and went back and forth with each other basket for basket until the game ended. After the game, we started talking and realized we were both from Brooklyn and were engineering majors. We’ve been close friends since. 6 years after graduating is when the initial idea for creating a media and education company focused on financial literacy came about. The initial idea was actually to create a mobile app but the business ended up evolving into what it is today. There were a few things we know we wanted to do from creating a social media presence to build community and share information, facilitate financial literacy sessions with students from elementary school all the way through college, sell merchandise, and start a podcast. We knew we couldn’t do everything ourselves. I leveraged my personal network to begin recruiting the first few team members. We bought on a content creator and social media manager since social media was our first phase and business vertical. The interview process was behavioral in general. We asked about candidates prior experience, working styles, portfolios displaying examples of their previous work, and some questions to determine if they were a good culture fit for the company. After one round of interviews were able to fill both roles. We went through similar processes leveraging tools like Fiverr and Upwork to source talent and bring on a newsletter writer, Podcast editors, web developers, and a Creative director for our merchandise. One thing I would do differently today related to hiring is hire earlier to allow for more progress and growth of the business faster. Rather than bite off more than you can chew, outsource some of the work and get help. We’ve been bootstrapping the company from the start, so also being intentional with pulling in like-minded friends from the start who may be willing to work to help drive the mission forward.

Great, appreciate you sharing that with us. Before we ask you to share more of your insights, can you take a moment to introduce yourself and how you got to where you are today to our readers.

My name is Kwame. I’ve been co-founder of The Black Currency for the past 3 years. I’m originally from Brooklyn New York. I lived in Washington DC for 3 years and have lived in Los Angeles, California for the past 5. I started my business during the pandemic in 2020. I got into the media and education industry with a focus on financial literacy based on need within minority communities. Career wise, I’ve spent the past 8 years working in tech. There was a day when racial injustice in the US was at the forefront of media during the George Floyd protest. I was emotionally and mentally tired. It was perfect timing as the company I worked with at the time gave employees a mental health day. My spirits were low after continuously seeing a black man murdered on every screen I looked at whether it was a phone, TV, tablet, or computer. 50 years after the end of the civil rights era and some of the same racial inequalities clearly still existed. I wanted to do something that helped to bring change for minorities over the long term. Something that was a movement rather than a moment. This was when The Black Currency was born. The average net worth of a Caucasian family in the US is $180,000 while $18,000 for an African American family. I wanted to create a platform that helped to reduce the wealth gap for black and brown families in the US over the next 5 – 50 years. At The Black Currency, we provide information sessions and seminars to elementary through college students as well as employees at corporations, conduct an annual pitch competition that provides thousands in funding to help minority businesses scale, sell merchandise in which we take a percentage of sales and donate to a like-minded non-profit, created a business podcast that makes topics that can be dry and mundane entertaining, and are working to develop an e-learning curriculum in 2024 for people to classes online. We’ve partnered with organizations like Stock X, Otis Elevator, Syracuse University just to name a few. We’ve also been featured in AFROTECH, Yahoo, Black Enterprise, UCLA Daily Bruin, etc., There are a few businesses that operate in this space but what makes us different is the focus on longevity and true impact. Some similar businesses that started around the same time are already no longer in existence 3 years later. We also have a focus on emotional intelligence in addition to the other financial literacy topics we share, as it’s a compass that guides us through the complexities of human interaction and business.

How did you build your audience on social media?

Leveraging social media has been a crucial aspect of our business growth strategy. We recognized early on that social media is not just a platform for promotion; it’s a dynamic tool for building relationships and engaging with our audience.

Developing a comprehensive content strategy was pivotal. We focused on creating a mix of content types, including educational articles, visually appealing graphics, and interactive elements. By providing valuable and shareable content, we aimed to position ourselves as a valuable resource within our industry.

Maintaining a consistent brand image across all social media channels was also crucial for brand recognition. From profile pictures to the tone of our posts, we ensured a cohesive brand identity to make our business easily identifiable.

We also grew our audience on social media through strategic partnerships. When we first started, we conducted Instagram live sessions with subject matter experts in their fields of stock investing, real estate, certified financial planning, etc., The audience of guest we had on our platform became familiar with our brand as a result.

Any fun sales or marketing stories?

One of the most rewarding sales experiences I had was pitching a personal financial management info session to Stock X specifically tailored for their Black Employee Resource Group. At the time, it was our first time working with a company of it’s scale and cultural influence.

Recognizing the importance of cultural sensitivity and the unique financial challenges faced by individuals, I began by researching and understanding the specific financial concerns within the black and brown community.

I ensured that the content of the info session was highly relevant to the financial goals and challenges faced our audience. This included addressing topics such as wealth-building strategies, homeownership, and investment opportunities, with a focus on the historical context and unique financial perspectives that tied to the culture.

Contact Info:

• Website: https://theblackcurrency.io/
• Instagram: https://www.instagram.com/theblackcurrency/?hl=en
• Facebook: https://www.facebook.com/theblackcurrency20/
• Linkedin: https://www.linkedin.com/company/82370811/admin/feed/posts/
• Twitter: https://twitter.com/BlackCurrency20
• Youtube: https://www.youtube.com/@TheBlackCurrency/featured
• Other: Podcast link – https://podcast.ausha.co/the-black-currency