Entrepreneurs in need of direction to elevate that business plan from endeavor to enterprise, while navigating the path to business success can avail themselves of some expert advice from one of the most successful black leaders in the nation’s history. Dr. William Pickard, has penned an Amazon #1 Bestseller, Millionaire Moves: Seven Proven Principles of Entrepreneurship as a working guide for African American business owners pursuing their business dreams and building lifelong legacies.
7 Quick Tips for Black Entrepreneurs
- You don’t have to be the smartest person in the room, but you should surround yourself with people who are smarter than you. “I was a C-student, I’m a social worker. I didn’t know anything about business. I know people,” Dr. Pickard says. “My life is an example of what God and hard work can do with ordinary intelligence.”
- Raising capital to start your business is the EASIEST part of the entrepreneurial process. “If you approach 100 people for seed capital, 99 of them may say no,” Dr. Pickard says. “You just need that one.”
- Work hard so people will want to invest in YOU. “I don’t bet on the horse,” Dr. Pickard quips. “I bet on the jockey.” Master networker Dr. George C. Fraser adds, “Hustle beats talent when talent doesn’t hustle.”
- Support other Black businesses-and hire Black people. “Someone asked me, ‘would you hire someone just because they’re Black?’ And I said, yes,” Dr. Pickard says. “But that doesn’t mean I’ll make him the CEO. He/she may have to start in the mailroom or something, but I’ll hire them, because someone hired me.”
- Become an entrepreneur to create generational wealth because you can’t pass a job down to your kids.
- Failure is a natural part of the entrepreneurial process. If you fail, dust yourself off and get back up. “Failure is never fatal, and success is never final,” Dr. Pickard says.
- Stop faking it until you make it. “Save, save, save. Be careful of what you wear and what you drive,” Dr. Pickard advises. “Use common sense. Don’t show up at the bank [applying for a business loan] and you’re wearing two Rolex watches. And stop buying what you want and begging for what you need.”
Follow Millionaire Moves on Facebook, Twitter @AMillionMoves and Instagram, @AMillionMoves_
About Post Author
