We’re so pumped about our conversation with Kyara Murry. Kyara is a cofounder of Legally Black Business Society LLC and is also a content partner. Content partners help Voyage in so many ways from spreading the word about the work that we do, sponsoring our mission and collaborating with us on content like this.
Legally Black Business Society LLC is a legal marketing and business consulting firm that specializes in financing + digital marketing for legal black business owners. Our focus is in providing a support network between owners and clients in need of business, legal, and financial services and products. Our most profitable offering is helping businesses create and finance their marketing campaigns through marketing campaigns by providing consulting towards grants and credit management.
Legally Black Business Society LLC is co-founded by Dr. Kyara Murry, second year law student at Thurgood Marshall school of Law, political science alumni of Tennessee State University, and non-profit alumni from Columbia University.
Check out our conversation with Kyara below.
How have you pivoted your business during the digital transition?
One pivot LB made in response to the digital transition was to offer original content, in the form of podcasts, videos, and mobile application..
Two pivot LB transitioned to an e-commerce platform, which has seen a boom in e-commerce activity at distances of less than 15 miles between sellers and buyers
Third pivot LB’s key pivot has been to offer a comprehensive cloud-based bundle of services that help clients manage expenses, pay bills, anticipate cash-flow problems, and optimize deliveries.
Fourth pivot LB’s brand purpose and messaging was tweaked, not overhauled, because consumers are becoming more interested in safety, experience, and comfort as a result of the pandemic.
LB focused on three conditions are necessary for such lateral moves to work. First, the pivot must align the LB brand with one or more of the long-term trends created or intensified by the pandemic, including remote work, shorter supply chains, social distancing, consumer introspection, and enhanced use of technology.
Second, LB focused the pivot on being a lateral extension of the our existing capabilities, cementing not undermining its strategic intent.
Third, LB focused on making sure the pivot offered a sustainable path to profitability, one that preserves and enhances brand value in the minds of consumers. The economic crisis triggered by the pandemic does not necessarily spell the end of entire industries or companies. It does weed out business models that fail to pivot toward the new reality characterized by shorter value chains, remote work, social distancing, consumer introspection, and enhanced technology use.
What problem is your service solving?
Legally Black LLC was created for minorities to fulfill the need and solve the problem for the need for knowledge of law and financial literacy. Additionally, LB was created because we recognize that although there are many black businesses, some are dwindling or have a lack of consistency because of the lack of knowledge in marketing and finances.
How has grant management and credit management help you and your clients?
We provide financial resources (grants, loans) to students and business owners in communities of the African diaspora and underserved areas who have been historically marginalized. Additionally, will provide financial resources to our community through the legal acquisition of 3 types of investment products, (1) real estate, (2) small business lending & consultation, & (3) financial securities investments. Credit management has helped clients with an action plan to guard against late payments or defaults. The effective credit management plan has been used a continuous, proactive process of identifying risks, evaluating their potential for loss and strategically guarding against the inherent risks of extending credit. The credit management plan has also helped clients protect their business’s cash flow, optimizes performance and reduces the possibility that a default will adversely impact their business. Grant management, which some funders call a management plan, first and foremost includes all the administrative responsibilities you must complete during the time frame of the grant. We have helped our clients ensure they keep all the promises made in their proposal; which means staying in compliance with the terms of the grant, following through on all the deliverables, and submitting reports according to the funder’s requirements.
grant management is more than simply ensuring that the terms of any grant are met on time and on budget. Through Grant management we help our clients with strategic planning, efficient grant design, program development and effective tracking, and having sufficient resources to smoothly manage the process.
Grant management for LB means working with all the key stakeholders in organizations to develop strategy around grants, identify grant opportunities, implement specific grant awards, evaluate successful projects, and streamline future proposals.
How do you measure your business impact/success?
These are some questions we ask ourselves when measuring the growth of the company; When LB sets targets or identifies required results, are we able to achieve them?
Is the LB family aware of your commitment to growth and continuous improvement? And are they working to support those goals?
Most importantly, when LB does not achieve required results, do we know why and how we will change it next time?
Other ways we measure success is through engagement, client acquisition percentage, client satisfaction, and employee engagement.
What are you hoping to accomplish in the next 6-12 months?
In the next 6-12 months; LB hopes to create a grant program that funds other small business and startups.
What else should we know? Are there any new updates you can share?
LB recently launched our e-commerce luxury brand. Our goal is to create a lifestyle brand around our business. While helping people through our services, we also recognize that success is a mind set and a life style. We offer our clients a taste of what we believe is a legally black purpose driven lifestyle.
Thank you so much again for sharing all of this with us. Before we go, can you share with our readers how they can connect with you, learn more or show support?
Instagram: @LBinvestmentsclub @drkymurry
- Website: lbinvestmentsclub.org
- Facebook: https://www.facebook.com/kyara.murry
- Linkedin: https://www.linkedin.com/in/kyara-murry-a86695111/
- Youtube: https://www.youtube.com/channel/kyandmikeinvest
- Other: Legallyblackmarketing.com
Jalen Elliot Photography