Tuesday, October 26, 2021


3 Tips to Keep in Mind as a Black Business Owner.

October 6, 2021 by  
Filed under Business, News, Tech/Internet, Weekly Columns

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(ThyBlackMan.com) If you are a Black man, you do not need to be told that you face certain struggles that others will never fully understand. However, the nature of the struggles you face can potentially vary depending on your life circumstances and goals.

For example, perhaps you’ve started your own company. Whether you wish to continue running it yourself indefinitely or you wish to eventually sell it, the subconscious assumptions people have due to your race could theoretically result in challenges.

That doesn’t mean they have to. While no one should ever downplay the significance and magnitude of the challenges you may face, it’s also critical to remember that there are strategies you can apply to hopefully mitigate the inappropriate skepticism of others. They include the following:

Persevere

It’s a simple point, yes, but it’s also a very important one that should be highlighted. According to many successful Black business owners, merely making the decision to continue working towards their goals even when it seemed like the odds were not in their favor has often played a major role in helping them turn their ideas for businesses into thriving operations.

Business owners who offer this advice often emphasize the importance of having goals that are not necessarily related to making a profit. Although there is certainly nothing wrong with wanting to make money, if you focus on how you can potentially use the money you make to enrich the lives of others, you may be more likely to continue working hard in the face of adversity.

For example, when Tanya Hill began growing Forever Fresh into a business, she encountered difficulties that nearly convinced her to abandon her goals. However, she has explained that she wanted her business to make enough money that she would be able to build a youth center and help young people in her area access business opportunities. This goal kept her focused.

black business woman 2021

 

Be An Expert

Again, you probably already know that unwarranted biases can influence how confident others may be in the potential for a Black-owned business to succeed. This is why successful African-American entrepreneurs highly recommend becoming a trusted and authoritative expert in your industry if you want to make the right impression on others. 

Quite simply, if you obviously know a lot about what you’re doing, others will be more likely to take you seriously because they won’t be able to deny your qualifications the way they otherwise might.

Have a Support Network

This is an essential point that’s nevertheless quite easy to overlook for some people. Once more, as a Black business owner, you are going to face unique struggles that not everyone will understand. 

Therefore, it is particularly important that you seek support from a network of others who can relate to what you’re going through. Doing so will help you identify strategies that can propel your career.

All that said, none of this is meant to oversimplify your situation. There is a very good chance you will need to cope with challenges that others won’t appreciate. You must be prepared for this. Still, these tips can make the experience of growing a business somewhat easier, allowing you to enjoy the rewards of said experience instead of being hindered by the struggles.

Staff Writer; Peter Parker


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