5 reasons why NOW is the best time for Black people to start and grow a business
Today, Black people are starting business in increasingly large numbers. According to a recent article in US News & World Report, there were 20% more Black-owned businesses in the third quarter of 2021 than there were before the pandemic.*
If you’re considering starting a business or expanding the one you have, this is a great time to do it.
Here are the five reasons why now is a great time for you to launch a business or grow an existing one.
1. People want to support other people
Stay informed with news and events that impact Charlotte’s Black communities.
One of the things I know for sure after 22 years in business is that the more conversations you have, the more sales you have.
Purchasing a product from a person you can get to know a little provides a buyer with a sense of satisfaction that cannot be matched when buying a product from a big box store.
The future of business is interactive and conversational. For proof of this fact, look no further than how people buy based on what they experience on social media.
Members of the Black community experience a special sense of pride and joy when they purchase from another local Black entrepreneur.
People want to do business with other people, and Black people want to do business with other Black people. Now is the time to leverage this in your business.
2. The world is in your back pocket
There was a time when you needed live access to mentors, hard copies of books, and pricey in-person entrepreneurial training classes in order to enter the world of entrepreneurship. Today, all of the information and mentoring you need is in your back pocket or purse in the phone you carry everywhere you go.
Need a mentor? Follow some your favorites on social media and learn from their videos.
Need step-by-step instructions on how to incorporate your business? Log onto the official website of the State of North Carolina https://www.nc.gov/working/starting-business and get everything you need.
Need to learn how to apply for and receive national trademark protection for your brand? Head over to the United States Patent and Trademark office (https://www.uspto.gov/ and learn how to get it done.
If you want to start or grow your business and you have a phone, you have no excuse for not moving forward with your dream.
3. Automated sales and marketing processes
Today, you can travel with your customers anytime and anywhere by putting your brand in their purse or back pocket.
Using email and SMS marketing (link to https://qcitymetro.com/2022/04/28/5-steps-to-get-started-with-email-and-text-marketing/), you can meet your customers where they are 24/7.
While snail mail still has its place, there is no substitute for the speed and convenience of technology. Tools like Survey Monkey and livestreaming video make it easy to build and stay connected with your brand community. When you use these types of tools consistently, more people discover your products and services and you are able to create an ecosystem that supports endless sales opportunities.
4. Increased supportive and collaborative opportunities
The growing number of Black entrepreneurs means that there are increasingly more Black people available to participate in high value promotional and collaborative opportunities.
For example, Alisia Hutchinson of Nxt Big Thing Charlotte hosts the Juneteenth Popup where Black-owned businesses can network and sell their products. https://www.eventbrite.com/e/buy-black-pop-up-shop-juneteenth-celebration-tickets-333903011897
It’s also easier than ever to establish your own collaborations with other local Black entrepreneurs to leverage and build on each other’s success.
5. You can lead your business from anywhere
Gone are the days when you have to be in a specific location to get things done. Technology allows you to manage your business from wherever you are in your busy life, thus making an entrepreneurial lifestyle more accessible to everyone.
While you cannot do everything from a beachside hammock, you can lead meetings, delegate tasks to team members, and push your business forward from anywhere you have a phone and a good Wi-Fi connection.
This increased mobility provides you with the freedom and flexibility to efficiently integrate your business and personal lives in ways that benefit your customers and your business, as well as yourself personally.
NOW IS THE TIME!
When I started the Indie Business Network, a lot of my friends told me they wanted to start their own business. None of them did. I had little support, no role models, few technological tools, and the only useful information I could easily access was in a physical book.
What I did have was a vision for my life, and a vision for how my product could transform people’s lives. If those two things were enough to get me off to a strong start 22 years ago, imagine what you can do with the resources at your disposal today.
If you want it, it’s yours. You can do it.
Get started today.
Let’s Talk About It!
Are you seeking to launch a new business or grow an existing one? How are things going? How are you using the resources available today to enhance lives and create the life you want? How can I help you create the business of your dreams?
Send me your questions and comments using this form https://docs.google.com/forms/d/e/1FAIpQLScSG94HoO5PumZ3X94L53HEEuw4x0uBTnZ0qbOEbd1wwAhslg/viewform, or email me anytime at firstname.lastname@example.org.
I love hearing from you!
* “Why the Rate of Black Business Ownership Is Going Up,” US News & World Report, April 13, 2022: https://www.usnews.com/news/national-news/articles/2022-04-13/why-the-rate-of-black-business-ownership-is-going-up