3 Common Cracks in the Black Business Model:
1. Absence of Proper Planning, Preparation
2. Having the right team around you (accountant, attorney, inspectors, SME)
3. Lacking Business Savvy (Integrity, Ethics, Professionalism-who we hire), Customer Care-Service)
4. Inclusivity is not Selling Out. This is a notion/mindset that must be transformed. Being afraid to create a product/business that solves for a universal need can be a barrier.
Bonus: A large majority of black people start businesses like Crab Shacks, Wing Trucks, Nail Salons, Hair Shops, Mobile Detailing, Lawn Care…)
We create for our people and we don’t present our self to be seen or taken seriously by anyone else.
It is okay if you want to create a Niche and target one group of people…but still do that exceptionally well. Raise their thinking, enhance their experiences with your business/product.