Joey Betts
“Always think higher. Instead of saying, ‘I’m going to save a certain amount,’ and sticking with it, try to save more. Try to live under your means until you get to where you need to be.”
Even in elementary school, Joey Betts was a businessman —earning money by walking kids to school, babysitting, and doing odd jobs at the barbershop and Chinese restaurant in his neighborhood. In junior high and high school, his teachers encouraged his entrepreneurial spirit by introducing him to the National Foundation for Teaching Entrepreneurship (NFTE) and Urban Alliance Foundation. As a NFTE student, Joey excelled in business competitions, earning revenue and a second place award from a venture selling sports jerseys. He was named Youth Entrepreneur of the Year and spoke at a Congressional hearing on youth entrepreneurship. He has also headed a mentoring program for young men and supervised employees not much younger than himself. Now at age 20, Joey works days in the US House of Representatives’ mail operations center while he devotes nights to developing his start-up company.
The Urban Alliance Foundation introduced Joey to CAAB and the IDA program during his senior year at Anacostia Senior High School. Through Urban Alliance, Joey also learned professional skills such as the art of public speaking, and enjoyed exposure to a variety of career options. Although Joey graduated from Anacostia High in 2004, he remains active in Urban Alliance as an alumnus, frequently participating in events and speaking on behalf of the organization.
BB&T LLC, a commercial development start-up which Joey launched with two partners in September, is Joey’s latest venture and the motivation for saving in his IDA. “We’re going to have different divisions,” Joey explained. “My portion will focus on development. I want to build houses, hospitals, schools, stadiums, warehouses, and more. The difference is, I want to do that with technology. If I build a building, I want the elevator to be voice commanded. That would help me break tradition [with conventional builders]. I have a partner in the IT field. I’ll be able to take products she makes and incorporate them into the commercial properties.”
While the business is still emerging, Joey is determined to do everything by the book. “We have lawyers and accountants set up. We’re trying to do everything professionally,” Joey said. “I want to be a management partner. I like to tell people what to do. I think by this time next year we’ll be operating. I see us getting profit next year so I can quit my job.”
As he made the transition from high school student to full-time business professional, Joey realized he had to change his lifestyle and make some sacrifices to save what he needed to launch his business. “In high school I wanted to stay what they call ‘fly.’ I wanted to have new Jordans or a new shirt or whatever. But I’ve realized it’s a bigger world. You can stay small-minded or not. I’ve realized that I’m affected by the whole wide world. If you think big, you will be big.”
Joey cautioned that saving toward a goal requires careful planning of overall finances. “Don’t get into too many financial obligations so it’s impossible to save,” he said. “Always think higher. Instead of saying, ‘I’m going to save a certain amount,’ and sticking with it, try to save more. Try to live under your means until you get to where you need to be.”
As a resident of Anacostia who is dedicated to his community, Joey looks forward to the day that he can have enough to give back even more. “Once I’ve got the business up, I’ll have better financial status. I will be able to help others. I want others to have the information I had and succeed like I’ve succeeded.” BB&T LLC hopes to sponsor a local student to attend college and plans to provide job opportunities for students once building projects are underway.
In the midst of all this hard work, Joey still makes time for his son, the accomplishment he said he’s most proud of. “I’m proud because now I have something to go out for. I can go all out for him and my wife. Someday he’ll run my business or his own business. He’s my motivation.”
