There has never been a better time to instigate change in an outdated landscape, more women than ever before are joining the business world in more authoritative roles and the horizons are beginning to look a little brighter for future generations. Of course, no progress is made without resistance, this is where Dr. Velma Trayham and the Millionaire Mastermind Academy come into the fray.
The Academy was setup to empower, educate and give minority women entrepreneurs a chance to receive the same educational benefits that are bestowed upon their competitors, through stringent educational programs and mentorship programs.
We had a chance to sit down with Dr. Velma and ask a few questions surrounding her motivations, the state of business culture and how the Academy came about.
Hi Dr. Velma, thank you for speaking with us. To begin, can you give us some background on yourself?
Hi there, well I’m Dr. Velma Trayham one of the nation’s top business experts and a prominent influencer. I have a passion for building and scaling companies using over 10 years of experience across a wide variety of industries. Using my years of knowledge and experience I have created several programs with the expressed intention of empowering and educating underrepresented communities and minority businesses around the world. I’ve also written a best-selling book ‘When God Says Go’ which delves into my own philosophy further.
If you need more to go on, I have grown several companies exponentially in just a few years as well as mentoring over 5000 entrepreneurial women. I’ve worked as a marketing and PR consultant for a number of Fortune 500 companies as well as medium sized businesses and smaller start-ups.
Growing up in poverty I’ve always had an understanding of the uphill battle women can face in achieving success in business – which is why I have devoted my life to supporting and inspiring women to achieve the same successes I was able to.
What inspired you to create the Millionaire Mastermind Academy?
I was inspired to start MMA to empower women to rise above poverty. When you are raised in disadvantaged circumstances you don’t have access to resources, good education, and opportunities. I believe the fight against poverty is one of the key components for the positive development of any country.
If the percentage of poor people is high, national development slows down. To this end I wanted to create an organization that would bridge the gap between women, minorities, entrepreneurs, and corporations that has the necessary capacity and resources to help.
Can you tell us more about what you do at the Millionaire Mastermind Academy?
From business development, networking opportunities, mentorship, to entrepreneur accelerator and economic empowerment programs – we are helping women get to the next level.
They do not leave our programs the same way they came. We are not just about information but impartation for transformation. Millionaire Mastermind Academy is a Pioneering 501C3 Organization where the only way is up.
As a pioneer of this space, what fundamental tips do you give to women to help them kick start their businesses?
There’s a few I can go to, the most foundational one would be to start a business you are passionate about, understand what your purpose in life is and marry the two together. Do not start a business based on how much money you can make, base it on the problem that you are solving. Get a mentor early on, and make sure they’ve got the experience in the field you’re lacking in. You cannot expect someone that has never built a company or made millions of dollars to help you do something they have yet to be able to do.
How important is it to support women, particularly minority women, on their journey to becoming entrepreneurs?
It is very important to support women especially minorities on this journey, every day in the U.S women start about 849 new businesses, and over the past 20 years the number of women-owned firms has increased by 114%. Now more than ever the effect of the coronavirus pandemic has shed light on the systems of inequality that create barriers to business ownership for minority women and halt the development of generational wealth.
Can you talk to us about the kind of obstacles that poverty presents and how these can be overcome?
Lack of education! Not every person without an education is living in poverty. But most of the extremely poor have no discernible education at all. There are many barriers to quality education around the world and people treat you differently without it!
We live in a cold world and some people are only concerned about themselves. Poverty is ultimately a state of mind, this is why people like me exist to solve this problem.
How do you think the industry is developing to include minorities?
One of the ways the industry is evolving to include minorities is through the public and private sector in small ways. Affirmative-action programs in contracting and procurement for one, these programs have already created important points of entry for minorities. Diversification has absolutely become more important in the public eye and in the growth of business bottom lines.
Finally, how do you see the Millionaire Mastermind Academy developing in the future? What do you hope to achieve?
I envision MMA building a nation of successful women in business! Further solidifying, penetrating, and expanding into other markets. The content of our entrepreneur program will be licensed to companies/individuals who want framework and support.
We’re always working on more programs so that more women able to rise above poverty. We’d love to see more public and private entities choosing MMA as their preferred partner to create generational change through our works.
Simply put, CHANGE IS HERE!
Thank you Dr. Velma for your time!
You can follow up with Dr. Velma Trayham at www.millionairemastermindacademy.org