#TheTakeoutEffect – Business Advice from Successful Black Entrepreneurs
Okay, let’s talk numbers. Did you know that the average black entrepreneur gets ¼ the funding capital that a white entrepreneur gets? Yet black people persist, pursue, persuade, and overcome, doing everything and anything to build a business legacy that informs and educates everyone.
For decades black entrepreneurs have changed the business landscape with their immense contribution and talents, totally revamping the business scene worldwide. Today, there are so many diversity in every field forging ahead despite the roadblocks and hindrances on their path.
Giving honor to aspiring and inspiring black entrepreneurs, we have listed some of them and their advice on making it big in a world with too many barriers to keep count.
Born and raised in Miami, Chris Bennett is the founder and CEO of Wonderschool, a platform built to tackle the problems of early education and childhood care in most kids. Inspired by this own struggle to start school, Wonderschool is allowing caregivers, educators, and school enthusiasts to start their own quality in-home preschool for millions of children in poor and from struggling home.
His advice – Never underestimated the power of words or mouth. It is free marketing and can take your business where many advertising strategies cannot.
She is a black entrepreneur, traveler, speaker, and the creator and founder of Travel Noire. An idea that was born as she journeyed through India and one that is helping the unconventional black traveler navigate the world successfully through guides and services. Travel Noire’s mission and goal were to make international travel more inclusive to black communities and also inspire them to see new destinations around the world.
Her advice – You have to be willing to take risks to succeed in life.
This is a formidable force in the world of black entrepreneurship. She is the founder of two companies, one of which she started with Zero capital. She is the CEO of Solid Ground Innovation and Resilia; the former she was started from nothing to a seven-figure business. She also raised 3 million dollars for Resilia.
Her Advice – disappointments are real, disappointments are constant but can be conquered. Learning to deal with disappointments after you are knocked down is what takes to be successful in life.
Morgan is the fierce founder and CEO of Blavity. A platform created to cater to black people in the media. Blavity aims to create and curate culturally significant content for black millennials in the industry. Morgan believes that fear of failure is the main reason why many black millennials fail in the media industry.
Her Advice – “there is no better time to start your business than now.”
Paul Judge is a man of many talents – he is an entrepreneur, inventor, investor of startups in Silicon Valley and Atlanta. He is the co-founder and executive director of Pindrop Security. The company helps financial institutions, insurers, and retails identify their clients by voice, thereby reducing fraud and improving customer satisfaction.
Takeaway – never give up or quit; just keep trying that is what separates the people who succeed from those that do not.
Moore is a lady in a man’s world (or so they say). After spending years as an event planning in the Middle East, Moore pursued her passion for motorparts. She is the founder of Motorparts Nation, an establishment that aims to clear the problem of Autoparts in West Africa. Motorparts Nation is improving the market and making auto parts affordable and accessible for car owners and mechanics.
Her Advice – Moore recommends that entrepreneurs conduct thorough market research and identify the demographic that needs your product and service.
Oprah Winfrey, the activist, educationist, media mogul, and many more is the most successful entrepreneur in the world. She has passed through a lot and built a perspective that she defines with all that move with her. Oprah has a lot of advice for black entrepreneurs, but we will choose one that defines her life and successes.
Her Advice – “do the one thing you think you cannot do. Fail at it”.
Robert L. Johnson
He is the first black African American billionaire and a man that wears many caps. However, he is best known as the co-founder of Black Entertainment Television (BET), and the founder of RLJ companies with investments in various sectors.
In an interview, he once said, he never gets angry, hence this advice.
His Advice – anger is not a good emotion for good business.
Model, TV personalities, host, entrepreneur, and the inventor of the word Smize, Tyra Bank is and black icon most models – black and white look up to. Today, she runs her daytime talk show that keeps her connected to the people as she dishes real advice and extends a helping hand to those that need it.
Her Takeaway– start with what you know and save for what you are passionate about.”
The actor with the “mostest” is everything that most people want to be. This dedicated and successful actor, director, producer, and writer, is also a successful entrepreneur who has done well for himself.
His takeaway – Invest in yourself; be the first to get there and the last one to leave the venue.
Celebrity hairstylist and founder of the famous salon and creator of an impressive range of hair products, Kim has made a way for herself in the hair industry. Today she educates, promotes, and advices fellow black entrepreneurs on how to survive in the industry.
Her Advice – “Faith without works is dead — you have to put in the work and take control for the success of your business”
Black entrepreneurs have put in sweat, tear, blood, and time to build their businesses. In North America and around the world, most black entrepreneurs started their business with zero capital or little funds, but with focus and determination built successful companies that others look up too.
We are now seeing the rise of black billionaires, all of who are self-made and doing great for themselves in their respective field. The above is from zero to hero that is shaping the entrepreneur landscape one idea at a time.
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