Often I hear the accusation ad nauseum that Black businesses fail because blacks don't support each other in business. This is the most negative and defeatist attitude I constantly see expressed online by African Americans.If you have a business and don't have enough Blacks supporting it or other ethnic groups make sure you have a viable business idea and that your marketing and sales strategies are effective. Don't blame others for your business failures.
Think about it. There have been black businesses that have made hundreds of millions and even billions of dollars in part catering to black consumers. Ebony, Black Enterprise, FUBU, BET, Carol's Daughter, and Essence magazines over the years made billions of dollars catering to the Black ethnic market. So really we shouldn't be having these silly discussions.
I keep telling people this. Blacks will support other Blacks in business. I get blacks to invest thousands of dollars in my services and some of them I've never met or met once or twice.
Black businesses fail more from being under-capitalized or marketing issues. These are the reasons most small businesses also fail.
Remember most new businesses fail at a rate of over 90%. Too often when a Black business fails the business owner complains it was because Blacks didn't support me.
People have to understand it usually takes 5 years for most businesses to make a profit. It you don't have that kind of capital you better learn to sell very well in your field to try to survive.
Before I started my business I made sure I held sales jobs where I could generate hundreds of thousands of dollars over the phone without even meeting people. These skills have served me well over the years in business especially during slow cash flow periods. Once I knew I had the sales skills to generate over six figures over the phone that's when (and only then) I took my business leap of faith.
Also as a Black business owner or any small business owner you have to learn to give really good customer service. I worked in customer service for years also before even going into sales so I knew how important that skill is too. Moreover, having regular business hours and follow up is crucial to having a successful business.
Being under-capitalized or lacking sales/marketing savvy for your business is really less than ideal. You're jumping into the deep currents of the business ocean swimming against the tide.
For more info on this in depth subject please see the following video with talk show host and movie producer Michele Cannon.
About the Publisher of Kamau's Qu!ps
Kamau's Qu!ps
is Published by Kamau Austin. Kamau is a popular Blogger, Writer, and
Internet Marketing Professional helping small businesses grow more
profitable businesses online. If you need web design, blogging, search engine or social media promotion contact him at Search Engine Plan
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