As a young boy, I grew up in the streets of Detroit, Michigan. No one in my community could access capital to pursue a business idea.

Banks did not lend to people in the Black community when I was growing up. The pursuit of venture capital funding was out of reach. Unfortunately, the state of the venture capital (VC) industry will not be much better in 2023.

VC funding totaled nearly $330 billion in 2021 and $216 billion in 2022, putting Black founders’ shares at just 1.3% and 1%, respectively.

Source: Barron's: Venture Capital's Progress on Black Founders is Slipping

The answer is to grow the pool of accredited investors to change this trend. This pool of investors must be empowered to invest in Black, Indigenous, and People of Color (BIPOC) founders.

I will keep it 100%, though: unique challenges that limit wealth creation exist. For example, as of November 7, 2023, a conservative nonprofit group, American Alliance for Equal Rights, filed a new case against Atlanta-based VC firm Fearless Fund. At the heart of this case is a $20,000 grant program of the Fearless Fund and its racial eligibility criteria targeted for Black women. [2] This is one of many examples that under-represented minorities and women face.

I have the same concerns. Will we make progress in these inequities? Yes. Now is the time to strengthen the base of investors to change the landscape.

Building an extensive base of accredited investors will be challenging. A step-level change in our system will be required to be eligible to become limited partners, invest as Angels, or start a fund.

Vision: 1 million+ people with $1 million+ Net Worth investing others

Let's explore the top 3 mindset shifts you must make to get here:

• Be relentless on your goals
• Choose to do what others will not
• Entry into this club runs through relationships

This lifestyle is not for everyone. Do not feel pressured to choose this "hard" if you are unwilling to do the work. Most don't even start. Many fail to stay the course even if they do start.

Every article, post, and touchpoint I'm making is aligned with this vision; if you're here for it, let's get it. This is the way.

Here are the foundational mindset shifts. Let's jump in.

Mindset Shift 01: Be relentless on your goals

This is not a lesson on goal setting. This is the approach and determination you must have to accomplish what you set out to do.

Choose your framework for accomplishing your life goals. Set the destination timeframe beyond retirement and into your 80's. What will your world look like? Who will you be with? Describe the aspects of your life. Looking back, what significant moments will happen due to your excellent work?

You must be relentless in your persistence. You must have a "Never Stop" will to overcome obstacles.

This mindset shift is paramount. It rises above the rest. It is innate in every success story that was earned, not given.

"The difference between a successful person and others is not a lack of strength, not a lack of knowledge, but rather a lack in will." - Vince Lombardi

Mindset Shift 02: Choose to do what others will not

With your eyes firmly set on your goal, let's discuss a choice you must make. Most people I run into don't even realize there is a choice. Our life operates in a system or a game if you will. There are players and rules.

I must admit that I've known since I was a boy that there had to be a game to life. Some people seem to have many opportunities, while the rest have to deal with what's left.

Only recently, though, have I learned the rules of the game.

Regardless of your knowledge of the game and the rules, you must make a choice. That choice is a simple one.

Are you willing to do what it takes to be a player at the game's highest levels?

It is a choice that will impact your family, friends, and a series of choices over your life. You will be presented with complex challenges while playing this game. You must still engage at the highest wealth, power, and influence levels.

You must be willing to do all that is required to play and excel at your definition of success. Most are not ready. Are you?

"Do not follow where the path may lead. Go instead where there is no path and leave a trail." - Ralph Waldo Emerson

Mindset Shift 03: Entry into this club runs through relationships

Over 21 million individuals residing in the United States belonged to the global top one percent of ultra-high net worth individuals worldwide in 2022. China ranked second, with over five million top one percent wealth holders globally.

Whether you're talking about the top one percent within the country, region, state, or company -- the number of people at the top narrows.

Source: Statistica

Whoever is at the top of that pyramid can make the rules. These people also have the right to open or close the door for entry.

You must be sharp. You have to deliver. You need to have your prior successes to be invited to the party. But you will only be a player at the highest levels if you establish relationships with key leaders.

Once you have broken the barrier to a lifestyle at the "accredited investor" level, the relationships you foster keep you there. Your connections are what will power you further. Deal flow at these levels happens in circles where you can only be invited.

This ain't networking. It's just business.

“Succeeding in business is all about is all about making the right connections.” - Richard Branson

The Pro Tip: Learn these essential skills early in your career: setting goals, controlling emotions, delegating, and planning.

Your Homework: Create a vision board of the life you desire and the goals you have set for yourself.

The Recap -- TL;DR

• Be relentless in the pursuit of your goals
• Choose to do what others will not to have the freedom you desire
• Entry into this club runs through relationships

Next Steps: Let's talk about turning your phone into a helpful tool for getting things done.