In recent years, Black women have opened an incredible number of businesses around the country. With the total number of Black-woman-owned businesses climbing 50% in just five years, it’s fair to say that we’re in the midst of a newsworthy trend. Amid such an explosion of entrepreneurship, Black women business owners have been sharing their most valued nuggets of advice. They’re the ones driving the recent trend, and they can offer future business owners clues about how to turn a profit. Here are four pieces of advice that women have recently shared.
A pair of Black women who sell glasses recently told Good Morning America that they recommend doing plenty of research if you want to launch your own business. It pays to know as much as possible about your industry. The internet is a great resource for learning about best practices in a particular field, but you should also reach out to experts in person. Conventions and trade shows are also great places for reconnaissance missions.
Find Financial And Personal Support
Another woman spoke of the need to find plenty of support, both financial and personal in nature. In order to launch a successful venture, you’ll need money. By seeking out a number of deep-pocketed investors, you’ll be able to run your business the right way and increase your chances of success. But while financial backing is crucial, having the support of friends and family might be just as important. Make sure you have your loved ones behind you, since they’re the ones who will encourage you through the toughest times.
Don’t Give Up
Sometimes, the simplest lessons are also the most important. Multiple Black women business owners told Good Morning America that persistence is the key to long term success. No matter how many doors appear to be closing on you, you never know when you’ll find that passageway that leads you to your future.
Self doubt and the fear of failure can paralyze you, leaving you unsure of the best way to continue. When you force yourself to take on the future with self-assurance and a positive attitude, it’s incredible how much farther you can go.