1 00:00:00,480 --> 00:00:03,600 Speaker 1: When you think about those businesses that are you know, 2 00:00:04,480 --> 00:00:08,720 Speaker 1: still in those very early stages Black entrepreneurs who may 3 00:00:09,119 --> 00:00:12,000 Speaker 1: not in many cases come from a lineage of entrepreneurs, 4 00:00:12,000 --> 00:00:15,040 Speaker 1: but they're really good at a thing, whether that be 5 00:00:15,480 --> 00:00:18,400 Speaker 1: you know, developing a hair care product or of some 6 00:00:18,440 --> 00:00:20,960 Speaker 1: sort of food or etcetera. I'm making up things, but 7 00:00:21,440 --> 00:00:24,400 Speaker 1: they are doing it in their kitchen, They're doing it 8 00:00:24,440 --> 00:00:26,960 Speaker 1: in their garage, They're doing it, you know, in somebody's 9 00:00:27,000 --> 00:00:29,880 Speaker 1: commercial kitchen or etcetera. What are some of the most 10 00:00:30,160 --> 00:00:34,800 Speaker 1: common UM business related issues that they walk into the 11 00:00:34,840 --> 00:00:38,479 Speaker 1: door with that they need resolved that prohibits them from 12 00:00:38,520 --> 00:00:43,320 Speaker 1: being able to reach a new level of their business. Yeah, 13 00:00:43,360 --> 00:00:50,840 Speaker 1: I think um the common misconception is that everyone needs 14 00:00:50,880 --> 00:00:54,000 Speaker 1: access to capital. That's what every business other things, their 15 00:00:54,000 --> 00:00:58,120 Speaker 1: biggest problem is. However, there was actually a study done 16 00:00:58,400 --> 00:01:02,640 Speaker 1: by the Rustle Center for Innovation down in Atlanta shout 17 00:01:02,640 --> 00:01:05,560 Speaker 1: out to my my virtual mentor J Bailey. They did 18 00:01:05,560 --> 00:01:08,360 Speaker 1: a study with like five thousand small business owners early 19 00:01:08,400 --> 00:01:11,520 Speaker 1: stage folks and asking them what their greatest needs were, 20 00:01:12,280 --> 00:01:17,760 Speaker 1: and surprisingly overwhelmingly, the number one need and that survey 21 00:01:17,880 --> 00:01:23,199 Speaker 1: was community and networks. Number two was mentorship. Number three 22 00:01:23,319 --> 00:01:27,120 Speaker 1: was access to capital and number four was UM technical 23 00:01:27,160 --> 00:01:32,160 Speaker 1: skills training UM. And so if that sheds any light 24 00:01:32,959 --> 00:01:37,200 Speaker 1: and what folks really need, we know that community is 25 00:01:37,280 --> 00:01:41,759 Speaker 1: extremely important and and and that's largely because entrepreneurship has 26 00:01:41,920 --> 00:01:45,760 Speaker 1: has not been accessible to black and brown communities for 27 00:01:45,760 --> 00:01:48,960 Speaker 1: for a very long time, and it's becoming more and 28 00:01:48,960 --> 00:01:52,160 Speaker 1: more prevalent. We see women Black women are the fastest 29 00:01:52,160 --> 00:01:55,560 Speaker 1: growing group of small business owners and entrepreneurs in the country. 30 00:01:55,560 --> 00:01:58,640 Speaker 1: And it's no surprise because they're the most educated for 31 00:01:58,720 --> 00:02:04,720 Speaker 1: the Black community, and technology has democratized information. UM. But 32 00:02:04,800 --> 00:02:12,240 Speaker 1: I think that UM being pursuing that that entrepreneurial endeavor, 33 00:02:12,680 --> 00:02:16,280 Speaker 1: trying to diversify your streams of income, You're gonna be 34 00:02:17,040 --> 00:02:20,160 Speaker 1: a bit of a black sheep in some families. You're 35 00:02:20,160 --> 00:02:22,280 Speaker 1: gonna stand out, You're gonna be doing different things, and 36 00:02:22,520 --> 00:02:25,960 Speaker 1: you're not gonna be understood. So being able to be 37 00:02:26,000 --> 00:02:28,639 Speaker 1: in a group of like minded folks who are stepping 38 00:02:28,639 --> 00:02:31,240 Speaker 1: out of that nine to five or that thirty year 39 00:02:31,440 --> 00:02:37,480 Speaker 1: career UM zeitgeist mentality, you need to find people who 40 00:02:37,520 --> 00:02:40,000 Speaker 1: are who are like minded, who are who are walking 41 00:02:40,040 --> 00:02:42,760 Speaker 1: that same path UM, just to give you the confidence 42 00:02:42,800 --> 00:02:45,680 Speaker 1: to to to hang in there when times get tough. UM. 43 00:02:45,720 --> 00:02:48,919 Speaker 1: So it's really a qualitative piece of just community can 44 00:02:48,960 --> 00:02:52,520 Speaker 1: be really valuable. Having folks who who can answer questions 45 00:02:52,560 --> 00:02:55,400 Speaker 1: that that you're that you're experiencing, that can help you 46 00:02:55,480 --> 00:03:00,239 Speaker 1: overcome the imposter syndrome. UM. Those things are how a 47 00:03:00,320 --> 00:03:04,280 Speaker 1: valuable and then UM in terms of like technical skills, 48 00:03:04,320 --> 00:03:09,560 Speaker 1: I think helping people actually UM get their businesses online. 49 00:03:09,960 --> 00:03:12,360 Speaker 1: So one of the early stage things is like having 50 00:03:12,360 --> 00:03:16,600 Speaker 1: a website, having a domain that you owned. You really 51 00:03:16,600 --> 00:03:19,600 Speaker 1: need to own virtual your website because that's virtual real estate. 52 00:03:19,720 --> 00:03:21,920 Speaker 1: So many people put a lot of eggs and the 53 00:03:21,960 --> 00:03:24,200 Speaker 1: social media basket thinking like that it's going to be 54 00:03:24,240 --> 00:03:27,040 Speaker 1: their storefront and that's how they reach their audience. But 55 00:03:27,639 --> 00:03:31,960 Speaker 1: a Facebook and Instagram can suspend your account, could delete 56 00:03:31,960 --> 00:03:34,680 Speaker 1: your account at any time, and there's really nothing that 57 00:03:34,720 --> 00:03:38,000 Speaker 1: you could do. Your business would essentially lose that channel 58 00:03:38,120 --> 00:03:41,360 Speaker 1: or that stream of revenue. So having a website is 59 00:03:41,400 --> 00:03:44,120 Speaker 1: a major step that I work with and I advocate 60 00:03:44,200 --> 00:03:47,880 Speaker 1: for small business owners. Of course, building up an email list. 61 00:03:48,400 --> 00:03:52,000 Speaker 1: Your email list is the most underrated asset to any business. 62 00:03:52,000 --> 00:03:54,640 Speaker 1: People think the vanity metrics of followers are really what 63 00:03:54,640 --> 00:03:56,720 Speaker 1: we're all working towards but no, really, you should just 64 00:03:56,760 --> 00:03:59,760 Speaker 1: be trying to generate leads, provide value in exchange for 65 00:04:00,000 --> 00:04:03,360 Speaker 1: people's contact information so that you can sell and market 66 00:04:03,440 --> 00:04:06,560 Speaker 1: to them um and and that will be the group 67 00:04:06,600 --> 00:04:09,000 Speaker 1: that would really help you sustain your business and generate 68 00:04:09,040 --> 00:04:12,800 Speaker 1: the most revenue. So getting folks online technology moves really 69 00:04:12,840 --> 00:04:15,280 Speaker 1: really fast, and we just want to make sure that 70 00:04:15,280 --> 00:04:17,839 Speaker 1: we're not getting left behind in the education and the 71 00:04:17,839 --> 00:04:20,960 Speaker 1: access to the technology, and that we have the skills 72 00:04:21,040 --> 00:04:25,039 Speaker 1: to execute and flourish. There this black tech, Green money. 73 00:04:25,160 --> 00:04:27,159 Speaker 1: Share this podcast with the people you're closest to.