Black biz owners share advice

I have nothing but gratitude for being a… Black owned small business CEO and Founder. Yes, I there are days I wake up feeling tired wanting to give up and my motivation is found in my mind. It was once I opened my eyes to the lies my mind had been told When I was bold And said I would no longer postpone Standing in my own mold to embrace the Limitless is in this world. My advice to any Black businesses starting out …. Don’t let your thoughts cloud your mind cause it may inhibit you from moving forward. Say what you need to say and take action. The constant questioning of oneself will leave you standing in the same place. Yes, you are bound to FAIL and celebrate it cause it’s your First Attempt In Learning. Remember all lessons are blessings!! We learn, we grow, we do and be better! Get out of your own way and celebrate the impact you are having on someone’s life. #nationalblackbusinessmonth #ceo #smallbusiness #tipsforsucess

Black entrepreneurs started businesses at a much faster clip than their peers during the pandemic, yet Black-owned companies made up just 3% of total businesses in 2020. Funding continues to be one of the biggest hurdles for these entrepreneurs, as Amirh Davis knows all too well. She was turned down by traditional lenders and forced to find creative ways of getting capital. In today's edition, Davis shares her funding journey and advice for Black entrepreneurs looking to start a business today. #nationalblackbusinessmonth #entrepreneurship

It's National Black Business Month, and as a Black owned business CEO and Founder, here's the biggest thing I wish someone had told me early on: BE PROACTIVE ABOUT ASKING FOR HELP! When I was first starting out, I was so eager to prove myself and show that I could build a successful business all on my own. I thought asking for help meant admitting weakness. But I've learned over time that this lone wolf mentality only holds you back. The truth is that no one succeeds completely alone. We all need support, guidance, and collaboration to grow. Looking back, I wish I had been more proactive about reaching out and asking for help. There are so many people in my network who I know want to see me thrive. But they can't assist unless I speak up and ask! To all the Black owned business owners out there: Don't let pride get in the way of your success! I invite you to answer these questions: 1) What do I need help with right now? 2) Who do I know that might be able to either help me directly or give me suggestions on where i can get this help? Don't underestimate the power of community. We are better together! #NationalBlackBusinessMonth #blacklinkedIn #blackexcellence #blackownedbusiness

In honor of #NationalBlackBusinessMonth, I'm taking a moment to reflect on my journey as a Black entrepreneur. Starting Pillar Cowork wasn't just about filling a void in the market – it was about addressing a personal challenge I faced as a new mom seeking a balance of work and child care. Dealing with the absence of a space where I could work remotely while ensuring quality care for my children prompted me to take matters into my own hands. My advice to Black entrepreneurs starting out is simple: Network and communicate your needs relentlessly. Stepping out of your comfort zone, being open to conversations, and understanding the value of each interaction can unlock doors you never knew existed. Keep in mind: "You never know who you're talking to, who they know, or what connections they have." Embrace the challenges, as they shape your journey. Thank you also to ICA Fund for being a continued support when I needed it the most and helping me find my entrepreneurial community. Let's continue to uplift, support, and inspire each other. To all the Black entrepreneurs out there, share your story, your challenges, and your wisdom. #NationalBlackBusinessMonth #BlackEntrepreneurship #PillarCowork Pillar Cowork ICA Fund

August is #nationalblackbusinessmonth and during key times in history, we’ve seen how impactful they have been in society along with the economy. Ranging from Black Walletstreet to the pandemic boom in Black owned businesses — to see us strive through adversity with ascension never gets old. I didn’t realize that I had the idea of my business in June of 2010 but went full stream ahead with it in August of that year. I was just laid off during the 2008 recession without any savings and tapped out on my retirement. Learning about money + the economy when I didn’t have much plus the economy was in poor shape. 3% of U.S. businesses were Black- or African American-owned in 2020 and the number has increased since then. Outside of failing forward, another point of advice I could give to those in business is the power of the pivot. Yes, the buzzword of pivot is a strong point for this journey. Everyone wants to scale fast, but might have a hard time pivoting or be flexible in their methods of the freedom entrepreneurship can seemly give. Things in your business will change (often) but understanding your why will keep fueling you during the moments of stagnation. I’m proud of my journey and what’s next to come, but also appreciate where I started paired with the pivots that guided me along the way. Back in February, Pew Research Center Research Center did a study on the state of Black Businesses. Don’t just support them in February or August — all year round. Also give us more access to funding/opportunities. #blackowned #business #entrepreneur

Hi Linkedin Fam! August is #nationalblackbusinessmonth. The advice that I would give to any Black #entrepreneur  starting out is: "The secret of change is to focus all of your energy, not in fighting the old, but on building the new". Not too long ago, we didn't have a #choice but to always fight and defend. Because of the courage and deep sacrifice of so many, we now often actually do have a choice to #create. It's not always possible to not have to "fight the old" but your #responsibility now is to have the #courage to: 👉🏽 recognize when you do have a choice to #create; 👉🏽 cultivate, renew and protect your creativity; 👉🏽 spend zero energy convincing people, who aren't able to see it, of your worth; 👉🏽 instead spend energy seeking the people and places that are able to honor your value and co-create the new. To learn more about how to "create the new", check out the first chapter of my #linkedinlearning course "Establish Your Personal Sense of Belonging" https://lnkd.in/gWzEA9p8 #cultureofbelonging #nationalblackbusinessmonth

In celebration of #NationalBlackBusinessMonth I want to thank all my clients, friends, family and colleagues for all your support of Natural Do. Running a business is hard. And running a black owned business is even harder. There have been a lot of challenges over the years that I have learned from an overcame. But the one that sticks out the most are the banks and investors not understanding my service. I get it, if you don't have curly hair, or don't have close family to you that has curly hair, what is the big deal? But that is what exactly sets me apart for the other businesses. I saw the need for natural curly hair services and clients were looking for a place just like mine. My advice to emerging black entrepreneurs starting their business: DO NOT GIVE UP. Once the vision has been given to you, take action and be confident that everything will work out. To know more about Natural Do visit us at www.natural-do.com

95% of Black founders should avoid Venture Capital. Misaligned priorities and a system designed for a very specific type of founder make VC dollars borderline dangerous for a Black founder to take in. Here are my thoughts on why most Black founders shouldn’t go after VC. Hopefully, it helps someone decide if they should raise. 1. Misaligned desired outcomes Imagine this - you start a tech company, grow it to $5-6M in annual revenue while owning 90% of the company between yourself and your employees, and then you sell the company for $30M. Almost every founder I know would be ecstatic with this outcome as this gives them an opportunity to provide for their families and begin to create the generational wealth that’s eluded them. You know who wouldn’t be happy with this outcome? A VC. The VC world exists to chase billion-dollar valuations, which is an incredibly high and unrealistic bar for most startups. The pressure to achieve these huge outcomes leads to unrealistic expectations and pressure to grow at all costs. 2. Challenges in accessing VC funding Securing VC funding is an uphill battle, especially for Black and underrepresented founders who don’t have the social capital that it takes to raise. It’s a known fact that the best way to connect with a VC is through a warm introduction. The problem with this is that most Black founders don’t have the network or access to get these warm intros, which means that fundraising takes even longer than it does for the average founder. All this time is costly as takes founders away from what they should be focusing on: building their businesses. 3. More VC money means less ownership The racial wealth gap is real. A key facet of building wealth is ownership. Every time you take investment, you sell a portion of your company. Unfortunately, the prevailing investment landscape has often favored founders who fit a specific mold that doesn’t match the personas of many Black founders. When you don’t fit that mold, VCs view you as a bigger risk. When VCs view you as a bigger risk, you get worse terms. When you get worse terms, you own less of your business. That scenario I mentioned above where you and your employees own 90% of the company? Very unlikely if you take VC money. Venture Capital is just one funding option among many. Especially now, when fundraising is as hard as it’s been in a long time, it’s essential that we recognize that VC is not the best fit for most Black and underrepresented founders. This post isn't meant to discourage any Black founders from pursuing VC funding if it aligns with their goals. Instead, it's a call to diversify the narratives around entrepreneurship and funding. We need alternative funding mechanisms for Black and underrepresented founders building tech businesses. What are your thoughts? Comment below! 👇 #BlackFounders #tech #startups

I admit to being unaware of the history of Black serving and Black owned financial institutions until I met Dr. Bernice King and Ashley D. Bell who are involved with launching Redemption Bank, which will mark the first time Black investors have bought a non-minority-owned bank in the United States. These institutions continue to play an important role in supporting Black entrepreneurs and building trust in financial systems more broadly. Be sure to join for a LinkedIn Live Money Talk with Mr. Bell on August 29th. #shemoney #redemptionbank #banking #Blackownedbusiness #Blackownedbusinessmonth #financialservices #blackownedbanks #NationalBlackBusinessMonth