Alfred Edmond Jr. is keeping the legacy alive at Black Enterprise!

Black Enterprise has been at the forefront of all thing’s Black entrepreneurship, business, community, economics, and more in the Black community. We look to this publication for resources, suggestions, and discussion that will help the black community move forward in every generation. Alfred Edmon Jr. is the Senior VP and Executive Editor at Black Enterprise, and it is his responsibility and mission to ensure that the organization maintains the values upon which it was formed.

I had the privilege of speaking with him about his specific contributions to the company’s growth through the years, where it is now, and where he wants to see it go in the future. One thing I am certain of is that Alfred is ensuring that the company’s objectives never change, but that it remains flexible to evolving technology and how its audience consumes content.

Cox: Alfred Edmond Jr. is Senior VP and Executive Editor at BLACK ENTERPRISE, one of the oldest black publications still around. What does black media look like to you?
Edmond Jr.: There are a variety of media outlets that have a predominately Black audience. Black targeted media may or may not be Black-owned. And then there’s a diversity of media outlets that fall under the umbrella of black media.

For me, true Black media is black-owned media that actually serves the advancement of Black people. When you look at the reason why Black media (which at one time was just called the Black press) existed, you find that it was to defend, protect, advance, and tell the truth for the advancement of black people. It’s more than just reaching a Black audience for the sake of being very entertaining. Entertainment serves a role in our communities as well, so I don’t want to leave it out of the conversation, but the purpose of Black media extends beyond that.

So, when you look at the reason why BLACK ENTERPRISE exists, it goes back to what our founder, Earl Graves Sr., called solution-oriented media. Our job is to provide information, access to resources, and connections that help us solve problems and take advantage of opportunities for our community members. That’s the real core of what it means to be a Black media outlet.

Cox: In your role, how are you making sure the publication keeps up its legacy and mission?
Edmond Jr.: You know our mission has never changed. The only thing that has changed is our method of delivery. BLACK ENTERPRISE was founded by Earl Graves Sr. in 1970. It was about what resources we need to help African Americans build wealth, whether through entrepreneurship, success in their productive careers, or ultimately in money management and investing. His thought process was that without economic power, political power couldn’t be activated. If you have the social freedom to check into a hotel regardless of race but no money to pay for it, then where can we really go? And it all goes back to the ultimate goal of the civil rights movement. It wasn’t about whether we could all drink at the same water fountains. The point was about all of us having access to resources to pursue wealth, health, and opportunity.

And this mission still stands today. But what has changed is how we leverage digital, virtual, and live events for the company and its mission to advance Black people economically.

Cox: How does BLACK ENTERPRISE make sure it stays current with the community and the changing technological landscape with information distribution?
Edmond Jr.: We are still in business today because of our CEO, Earl Graves Jr. He is the oldest son of founder Earl Graves Sr. In the early 2000s, we completed the transition from being a primarily magazine publishing company to a digital-first company. A turning point for me happened when I stepped down as editor in chief for BLACK ENTERPRISE Magazine, which I held for thirteen years, to become the first editor in chief for blackenterprise.com. From 2008 to 2017, we went through a very challenging change of culture and staffing skill set. It wasn’t easy, but we had to move forward because traditional media revenue was declining. Digital media revenue was emerging.

Cox: How did COVID impact the business?
Edmond Jr.: We barely survived coming out of it. But it was a good thing that by the time the onset of the pandemic happened, we were a digital-first company. No live events could be held, so we took advantage of virtual events. This, plus our other digital efforts, led us to be the number one Black digital media brand to come out of the pandemic.

We’ve mastered virtual and digital spaces.

Cox: Alfred, you have always been someone in business with foresight. You even saw the power and capabilities of social media before everyone else.
Edmond Jr.: You know, I didn’t study journalism in college. I was the editor of our Black and Latino weekly newspaper, so I had the skillset, but it wasn’t my career ambition. I’m someone who doesn’t look at media thinking that I can only do it in a singular way through the lens of a magazine, radio, TV, or social media. I’m a mixed martial artist when it comes to media. I’m about using whatever tool is necessary for me to get the job done.

I was always curious about how we could communicate with our audience, and with the emergence of social media, it was interesting for me. I was one of the first to actually embrace social media and see its potential. I was one of the first national magazine editors to be on social media in an official capacity, representing the brand. At the time, my colleagues were like, what is Alfred doing? Today, one of the biggest strengths of our company is that we have mastered social media to serve our audiences and amplify the messages of our advertisers and sponsors with their content.

Cox: The company’s mission never changes, but the way you deliver everything to audience’s changes. When the company reaches 100 years of existence, what do you want the legacy to be?
Edmond Jr.: That we’ve made some serious progress on the core mission of BLACK ENTERPRISE, which is to close the racial wealth gap in America. This looks like the average net worth of a Black family is equal to that of a white family in America.

A report came out a couple years ago, pre-pandemic, that said by 2053, the average net worth of a Black man would be zero. And that’s something we won’t ever let happen. That’s why we are serious about building sustainable and scalable businesses.

Cox: You are an advocate for Black economic empowerment. Currently, we hear a lot about Black generational wealth. As someone who is leading the charge and the conversation around it, what are your thoughts?
Edmond Jr.: It’s about multigenerational wealth. One of our generations can’t be the only ones rich. If that’s the case, then it’s not true wealth. And yes, starting with home purchases is good, but we have to diversify how we invest our money. The Black community has to be laser-focused so that when things go up and down politically and economically, we aren’t as affected as we are. This means investing in things that create more value over time, such as the stock market, and thinking globally.

This also includes how we are passing everything on to the next generation. That’s when estate planning comes into play. You can look at our ancestors and see that many of them owned property. But due to them not being prepared before they transitioned, it was stolen from them. Luckily, we are in a position where it’s harder to steal from us. But that doesn’t mean we don’t need to stay vigilant, because things can still slip away if we don’t do certain things.

When we look at multigenerational wealth, it’s about the work we are doing today to have things in place to transition it to the next generation. This will ensure that every generation of Black people doesn’t have to start from scratch.

Cox: Last question before you go! What does Black entrepreneurship mean to you?
Edmond Jr.: Black entrepreneurship is ownership with the goal of becoming wealthy enough to invest in others. And we have to make sure we are looking at Black entrepreneurship in terms of growing and scaling Black-owned companies. It’s okay to have your business be a sole proprietorship when you start. But we need more to grow from it to employ people and create jobs. Here at BLACK ENTERPRISE, you see, we don’t just encourage people to start companies, but to grow them. When a Black-owned business scales and creates hundreds to thousands of jobs, it is creating a kind of revenue that can move the needle in the marketplace. That’s the kind of Black economic power we need.