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Homeownership

ThePATHGrantprogramstrivestoremove barrierstohomeownershipfortheBlackand AfricanAmericancommunityinColorado throughagrantofupto$10,000.1

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GregShields SeniorVicePresident

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Carla Ladd

Continued from page 5 wealth. “Students will learn how to avoid getting in debt, how to properly spend, and all the resources you need to know about living a financially successful life. Parents can learn about homeownership through the 2028 project,” she says.

Legacy Planning

Ladd wants B.E.S.T. to be her legacy. She recently turned B.E.S.T into a 501(c)3 nonprofit so the legacy can continue without her. “I want to pass the torch. I want this program to continue when I am no longer with the organization,” she says.

Legacy is something she is also hoping to share through the EYE on the Future Program through the 2028 Project where youth will create legacies that can be passed down from generation to generation. “That is how we can sustain the generational wealth in our community,” she shares.

She also believes the older generation of business owners should impart wisdom to the younger generation about the trials and tribulations of starting a business. “You only know what you know. If no one is teaching you or guiding you, you are going to be lost,” says Ladd, who notes that mentorship helped her along the way as an entrepreneur.

Two people, in particular, were in her corner. The late businessmen, Lu Vason (Bill Pickett Invitational Rodeo founder) and entrepreneur David Thompson, helped her become the businesswoman she is today. “They both helped me a lot and I’m grateful for their mentorship. They helped me see blind spots in my business and told me if something would work or not work.”

Ladd says Thompson and Vason “helped me establish a relationship with the Black business owners of Denver.” She now pays it forward to the newer generation by serving as a board member for some non- profits and creating bonds with young entrepreneurs.

Since building both of her businesses, she has received numerous awards including the Colorado Black Chamber of Commerce’s Clara Brown Award, the Colorado Black Women for Political Action’s Community Service Award, the Gospel Music Workshop of America Business Award, the National Council of Negro Women’s Business Award and the Martin Luther King Jr. Business Award.

Importance of Mentorship

Growing two businesses has not been easy. She has learned about the inevitable business blunders an entrepreneur would encounter. “The first year I hosted the summit I did not know how much money an event could lose by not raising enough money,” she says. “I had to cover the loss with the main income from my job.”

She explains that at the time of organizing the summit, she didn’t raise enough money to cover the amount of loss her summit would make from not selling enough tickets. “I undervalued my worth,” she says, which is a common thing Black business owners and entrepreneurs will do to themselves.

Becoming an entrepreneur can feel like you are charting uncharted waters and there are many pitfalls, doubts and negative energy from people. Ladd’s advice is to “ignore the negativity and keep pressing. Not everyone is going to understand or support your dreams, and that’s okay. It’s your dream, not theirs. Not everyone is part of your tribe.”

From her desire to combat youth poverty, advance Black people’s economics and help businesses, she has written herself into Colorado’s history.. Editor’s note: Parents can submit applications for the 2028 Youth Economics Project with B.E.S.T at https://bestsuccesssummit.org/yout h.html