(BBR) In a world where wealth and influence shape society, David Lloyd Stewart stands as an extraordinary figure, not only for his unmatched financial success but also for his enduring legacy as a trailblazer in business. Known as the richest Black man alive, Stewart's story is one of resilience, innovation, and an unwavering commitment to excellence.

The Entrepreneurial Journey

David Lloyd Stewart’s rise to prominence didn’t happen overnight. His entrepreneurial journey is a testament to hard work, calculated risks, and a vision that stretches beyond the ordinary. Early in his career, Stewart faced numerous obstacles, including systemic barriers to business ownership. Yet, with determination and a deep understanding of market needs, he transformed those challenges into opportunities.

Beginning with modest roots, Stewart ventured into industries that were ripe for disruption. Through strategic partnerships, innovative thinking, and an unshakable belief in his vision, he built a portfolio that spans real estate, finance, and technology, among other sectors. Today, his business empire is a multi-billion-dollar conglomerate, and his influence is felt across the globe.

Wealth Creation and Strategic Investments

Stewart’s wealth creation is deeply rooted in his ability to identify emerging trends and capitalize on them early. Whether it’s investing in underdeveloped real estate or pioneering tech-driven business solutions, Stewart’s portfolio is as diverse as it is lucrative. His approach to wealth creation is a model for aspiring entrepreneurs: focus on long-term growth, seek out high-potential industries, and never shy away from risk when the rewards are clear.

One of Stewart’s hallmark strategies is his talent for building strong business ecosystems. By leveraging relationships across industries and creating synergies between his ventures, he ensures that his businesses not only survive but thrive together. His financial prowess, combined with his ability to see opportunities others often overlook, sets him apart in the world of high-stakes business.

Leadership and Vision

As a leader, David Lloyd Stewart is known for his hands-on approach and his relentless pursuit of innovation. His business philosophy is centered around creating value, both for his shareholders and the communities his businesses serve. Stewart’s vision extends far beyond personal wealth; he is deeply committed to making a positive impact on society through his ventures.

His leadership style is characterized by a forward-thinking mindset, constantly challenging the status quo and inspiring those around him to do the same. Stewart is a champion of diversity in business, often advocating for more inclusion in leadership roles and ensuring that his companies reflect the diversity of the communities they serve.

Philanthropy and Giving Back

Despite his immense wealth, David Lloyd Stewart has never lost sight of the importance of giving back. He is a well-known philanthropist, using his resources to uplift marginalized communities and foster opportunities for those who need it most. Stewart’s charitable initiatives range from funding educational programs to investing in entrepreneurial development in underserved areas.

His work in philanthropy is driven by a desire to leave a lasting legacy. Stewart believes that true success is measured not by the wealth you accumulate, but by the impact you make on the world. Through his foundation and personal contributions, he has helped countless individuals and organizations, ensuring that his success is shared and that future generations have the tools to achieve greatness.

Impact on the Black Community

As the richest Black man alive, David Lloyd Stewart’s influence goes beyond his financial success. He is a role model for Black entrepreneurs and business owners, proving that with the right mindset and strategies, barriers can be broken, and new heights can be reached. Stewart actively works to empower the Black community, not only by providing financial support but by serving as a mentor and advocate for Black business ownership.

His efforts to promote economic empowerment within the Black community are transformative, inspiring others to follow in his footsteps and create their own paths to success. Stewart’s leadership in this area extends to advocating for policy changes and promoting educational initiatives that focus on financial literacy and entrepreneurship.

Global Influence and Legacy

David Lloyd Stewart’s success is not confined to the United States. His ventures have a global reach, and his influence extends far beyond any one country. Stewart’s businesses operate internationally, and his approach to global markets has set a new standard for Black business leaders. His legacy will undoubtedly be one of innovation, empowerment, and unwavering leadership.

As the richest Black man alive, Stewart has shown the world what is possible when vision, determination, and strategic thinking come together. His story is one of inspiration, not just for aspiring entrepreneurs but for anyone looking to make a significant impact on the world.

Conclusion

David Lloyd Stewart’s journey to becoming the richest Black man alive is a story of resilience, innovation, and leadership. Through strategic investments, a focus on community, and a commitment to philanthropy, he has built a legacy that extends far beyond his financial success. Stewart's influence on the business world and the Black community is profound, and his work continues to inspire the next generation of entrepreneurs.

As Stewart himself has often said, “Success is about more than wealth; it’s about making a difference.” And in this, he is undeniably a success.

(BBR) Article Series 3 - August 2024

Access to capital remains one of the most significant challenges for black entrepreneurs. Historically, systemic barriers and financial inequalities have made it difficult for black-owned businesses to secure the funding they need to grow and thrive. Despite these obstacles, there are numerous strategies that black entrepreneurs can employ to overcome these challenges and gain access to the capital necessary for success.

In this comprehensive guide, we’ll explore how black entrepreneurs can build a strong credit profile, leverage alternative financing options, join business incubators and accelerators, and tap into the power of networking. By understanding and utilizing these strategies, black entrepreneurs can break down the financial barriers that have long hindered their business growth.

Building a Strong Credit Profile

One of the foundational steps in accessing capital is building a strong credit profile. Your creditworthiness is a key factor that lenders consider when deciding whether to extend a loan or line of credit. For black entrepreneurs, establishing and maintaining a strong credit profile is crucial in gaining the trust of traditional financial institutions.

Key Steps to Building a Strong Credit Profile:

1. Pay Bills on Time: Timely payment of bills is the most significant factor in your credit score. Consistently paying your bills on time helps build a positive credit history and demonstrates your reliability to lenders.

2. Keep Credit Utilization Low: Credit utilization refers to the amount of credit you’re using compared to your total credit limit. It’s recommended to keep your credit utilization below 30% to maintain a healthy credit score. This shows lenders that you’re not over-reliant on credit and can manage your debt responsibly.

3. Monitor Your Credit Report: Regularly monitoring your credit report allows you to spot and correct any errors that could negatively impact your score. You can obtain free credit reports from the major credit bureaus—Equifax, Experian, and TransUnion—annually.

4. Diversify Your Credit: Having a mix of credit accounts, such as credit cards, installment loans, and lines of credit, can positively impact your credit score. However, it’s essential to manage these accounts wisely and avoid taking on too much debt.

5. Limit Hard Inquiries: Each time you apply for credit, a hard inquiry is made on your credit report. Multiple hard inquiries in a short period can lower your credit score, so it’s best to space out credit applications and only apply for credit when necessary.

By taking these steps, black entrepreneurs can build a robust credit profile that will make them more attractive to traditional lenders and increase their chances of securing funding.

Exploring Alternative Financing Options

While traditional bank loans are often the first option entrepreneurs consider, they are not always accessible, especially for black-owned businesses. Fortunately, there are alternative financing options available that can provide the capital needed to start or grow a business.

1. Crowdfunding:

Crowdfunding has become an increasingly popular way for entrepreneurs to raise funds without relying on traditional lenders. Platforms like Kickstarter, Indiegogo, and GoFundMe allow black entrepreneurs to present their business ideas to a broad audience and raise capital from individual backers.

Advantages of Crowdfunding:

• Low Barrier to Entry: Crowdfunding platforms typically have lower eligibility requirements than traditional lenders, making them more accessible.
• Validation of Business Idea: Successfully raising funds through crowdfunding can serve as a validation of your business idea, demonstrating that there is demand for your product or service.
• Marketing Opportunity: Crowdfunding campaigns can double as marketing efforts, helping to generate buzz and attract customers even before your product launches.

Tips for a Successful Crowdfunding Campaign:

• Tell a Compelling Story: Your campaign should clearly communicate the mission and vision of your business. Share your personal journey as a black entrepreneur and explain how your business will make a difference.
• Offer Attractive Rewards: Incentivize backers with rewards such as early access to your product, exclusive merchandise, or special recognition. The more appealing the rewards, the more likely people are to contribute.
• Promote Your Campaign: Leverage your network, social media, and email marketing to spread the word about your campaign. Engaging with potential backers and keeping them updated on your progress can also help build momentum.

2. Angel Investors:

Angel investors are affluent individuals who provide capital to startups in exchange for equity ownership. They are often more willing to take risks than traditional lenders and can offer not only funding but also valuable mentorship and industry connections.

Advantages of Angel Investors:

• Access to Expertise: Angel investors often have extensive experience in business and can provide guidance, mentorship, and industry contacts that can help your business grow.
• Flexible Investment Terms: Unlike traditional loans, angel investments don’t require immediate repayment. This can provide financial flexibility as you work to grow your business.
• Potential for Long-Term Partnership: If the relationship is successful, angel investors can become long-term partners who continue to support your business as it scales.

Tips for Attracting Angel Investors:

• Create a Solid Business Plan: A well-thought-out business plan that outlines your business model, market opportunity, and growth strategy is essential to attracting angel investors.
• Network in the Right Circles: Attend industry events, pitch competitions, and networking meetups where angel investors are likely to be present. Building relationships with potential investors can increase your chances of securing funding.
• Be Transparent About Risks: Angel investors understand that investing in startups is risky. Being upfront about potential challenges and how you plan to mitigate them can build trust and credibility.

3. Grants for Minority-Owned Businesses:

Grants are another valuable source of funding for black entrepreneurs. Unlike loans, grants do not need to be repaid, making them an attractive option for those looking to start or expand their business.

Where to Find Grants:

• Government Programs: The U.S. government offers various grants specifically for minority-owned businesses. Agencies like the Minority Business Development Agency (MBDA) and the Small Business Administration (SBA) provide resources and funding opportunities.
• Private Foundations: Many private foundations and corporations offer grants to support black entrepreneurs and promote diversity in business. Examples include the NAACP’s Powershift Entrepreneur Grant and the Amber Grant for Women.
• Local Initiatives: Don’t overlook local organizations and community development programs that may offer grants to support minority-owned businesses in your area.

Tips for Securing Grants:

• Research Thoroughly: Start by identifying grants that align with your business’s mission and goals. Each grant has specific eligibility requirements, so it’s important to choose those that are a good fit.
• Prepare a Strong Application: Grant applications often require detailed information about your business, including financial projections, impact statements, and a clear explanation of how the funds will be used. Take the time to craft a compelling narrative that demonstrates the potential impact of your business.
• Meet All Deadlines: Grant applications typically have strict deadlines, so it’s important to stay organized and submit all required materials on time.

Joining Business Incubators and Accelerators

Business incubators and accelerators provide a supportive environment where startups can access resources, mentorship, and funding opportunities. These programs are designed to help early-stage businesses grow and succeed by providing access to networks, expertise, and sometimes even direct funding.

Differences Between Incubators and Accelerators:

• Incubators: Incubators typically support startups during the early stages of development, providing office space, mentorship, and resources for a longer period (often 1-2 years). They are ideal for entrepreneurs who are still refining their business ideas and need guidance to get their business off the ground.
• Accelerators: Accelerators focus on scaling existing businesses by providing intensive mentorship, resources, and funding over a shorter period (usually 3-6 months). They often culminate in a demo day where startups pitch their businesses to investors.

Benefits of Joining an Incubator or Accelerator:

• Access to Funding: Many incubators and accelerators provide seed funding or connect startups with potential investors. This can be a critical source of capital for black entrepreneurs looking to grow their businesses.
• Mentorship and Expertise: Participants gain access to experienced mentors who can offer valuable advice on business strategy, operations, and growth. This guidance can be particularly beneficial for black entrepreneurs navigating the challenges of starting and scaling a business.
• Networking Opportunities: Being part of an incubator or accelerator program provides opportunities to connect with other entrepreneurs, industry experts, and potential investors. These connections can lead to valuable partnerships and funding opportunities.

Notable Incubators and Accelerators for Black Entrepreneurs:

• Black Founders Startup Community: This organization offers support and resources to black entrepreneurs, including access to mentorship, funding, and networking opportunities.
• DivInc: DivInc is an accelerator that focuses on supporting diverse entrepreneurs, including black founders, by providing them with the tools and resources needed to scale their businesses.
• Techstars: Techstars is a global accelerator program that has launched initiatives specifically aimed at supporting minority-owned businesses, including those founded by black entrepreneurs.

The Power of Networking

Networking remains one of the most powerful tools for black entrepreneurs seeking to access capital. Building relationships with financial professionals, successful entrepreneurs, and industry leaders can open doors to funding opportunities that may not be available through traditional channels.

Strategies for Effective Networking:

1. Join Professional Organizations: Professional organizations such as the National Black Chamber of Commerce (NBCC) and the National Minority Supplier Development Council (NMSDC) offer networking events, resources, and support for black entrepreneurs. Becoming a member of these organizations can help you connect with like-minded individuals and potential investors.

2. Attend Industry Events: Conferences, trade shows, and networking meetups provide opportunities to meet investors, business leaders, and potential partners. Preparing a strong elevator pitch and having business cards on hand can help you make a lasting impression.

3. Leverage Social Media: Platforms like LinkedIn, Twitter, and Instagram can be powerful tools for networking. Engage with industry influencers

(BBR) Article Series 2 - August 2024 

As we navigate through 2024, the landscape for black-owned businesses is undergoing significant transformations. While the challenges that black entrepreneurs face are well-documented, this year brings a host of exciting opportunities that have the potential to reshape the future of black-owned enterprises. From the rise of e-commerce to the increasing demand for diversity in supply chains, several key trends are emerging that black entrepreneurs must leverage to not only survive but thrive in the competitive marketplace.

In this article, we will delve into the major trends shaping the future of black-owned businesses in 2024 and explore how these businesses can capitalize on these opportunities. By understanding and adapting to these trends, black entrepreneurs can position themselves for long-term success and growth.

The Rise of E-Commerce

The global shift toward e-commerce has been accelerated by the COVID-19 pandemic, and this trend shows no signs of slowing down in 2024. For black-owned businesses, e-commerce presents a tremendous opportunity to reach a broader audience and compete on a level playing field with larger companies.

E-commerce allows black entrepreneurs to bypass many of the traditional barriers to entry, such as the high costs associated with brick-and-mortar stores. With the right strategy, black-owned businesses can establish a strong online presence and connect with customers worldwide.

Key Strategies for Success:

1. Invest in a Professional Online Presence: A well-designed website that is user-friendly, mobile-responsive, and optimized for search engines is crucial for attracting and retaining customers. Investing in professional web design and SEO (Search Engine Optimization) can significantly enhance your visibility and credibility online.

2. Leverage Social Media: Social media platforms like Instagram, Facebook, and TikTok are powerful tools for driving traffic to your e-commerce site. By creating engaging content, utilizing influencer partnerships, and running targeted ad campaigns, black-owned businesses can effectively reach their target audience and build a loyal customer base.

3. Offer Seamless Customer Experiences: In the competitive world of e-commerce, customer experience is king. Black-owned businesses should focus on providing a seamless and enjoyable shopping experience, from easy navigation on the website to fast and reliable shipping. Offering excellent customer service and a hassle-free return policy can also help build trust and encourage repeat business.

4. Diversify Sales Channels: While having a standalone website is important, black-owned businesses should also consider selling on popular e-commerce platforms like Amazon, Etsy, and Shopify. These platforms have vast customer bases and built-in marketing tools that can help increase sales and brand exposure.

The Growth of Social Impact Businesses

In 2024, there is a growing trend towards businesses that prioritize social impact alongside profitability. Consumers, particularly younger generations, are increasingly supporting brands that align with their values and contribute positively to society. For black-owned businesses, this trend represents a unique opportunity to differentiate themselves and build a strong, loyal customer base.

Social impact businesses focus on creating products or services that address social, environmental, or economic issues. By integrating social responsibility into their business models, black entrepreneurs can tap into a market that is eager to support purpose-driven brands.

Key Strategies for Success:

1. Identify a Cause That Resonates: Black-owned businesses should identify social causes that resonate with their target audience and align with their brand values. Whether it’s supporting racial justice, environmental sustainability, or community development, choosing a cause that is authentic and meaningful to your brand is crucial.

2. Incorporate Social Impact into Your Business Model: Once a cause is identified, black-owned businesses should integrate social impact into their core operations. This could involve donating a percentage of profits to a charity, sourcing materials ethically, or implementing environmentally friendly practices in production.

3. Communicate Your Impact: It’s important to communicate your social impact efforts to your customers transparently and authentically. Use your website, social media, and marketing materials to share the story behind your brand’s mission and the positive impact you’re making. Highlighting customer testimonials and success stories can also help reinforce your brand’s commitment to social good.

4. Engage with Your Community: Building a strong connection with your local community can enhance your social impact and strengthen your brand’s reputation. Consider partnering with local organizations, hosting events, or offering volunteer opportunities to engage with your community and create a positive influence.

Increased Access to Funding Through Fintech Platforms

One of the most significant barriers for black-owned businesses has historically been access to capital. However, the rise of fintech platforms in 2024 is helping to bridge this gap by providing more inclusive and accessible financing options for black entrepreneurs.

Fintech platforms leverage technology to offer a wide range of financial services, including loans, crowdfunding, and peer-to-peer lending. These platforms often have less stringent requirements than traditional banks, making it easier for black-owned businesses to secure the funding they need to grow and scale.

Key Strategies for Success:

1. Explore Fintech Lending Options: Black entrepreneurs should explore various fintech lending platforms that cater to small businesses. Companies like Kiva, Fundbox, and Square Capital offer flexible financing options with transparent terms, making it easier for black-owned businesses to access the capital they need.

2. Consider Crowdfunding: Crowdfunding platforms like Kickstarter, Indiegogo, and GoFundMe allow black-owned businesses to raise funds from a large pool of investors, often in exchange for early access to products or equity. Crowdfunding not only provides financial support but also serves as a marketing tool, helping to generate buzz and build a community of supporters around your brand.

3. Build a Strong Credit Profile: While fintech platforms may have more flexible lending criteria, maintaining a strong credit profile is still important. Black-owned businesses should focus on building and maintaining good credit by paying bills on time, managing debt responsibly, and monitoring credit reports regularly.

4. Leverage Grants and Competitions: There are numerous grants and business competitions specifically aimed at supporting black-owned businesses. Platforms like Hello Alice and the Minority Business Development Agency (MBDA) offer resources and opportunities for black entrepreneurs to access funding and support. Participating in these programs can provide not only financial assistance but also valuable networking and mentorship opportunities.

The Growing Demand for Diversity in Supply Chains

In 2024, there is an increasing demand for diversity and inclusion in supply chains. Corporations and government agencies are recognizing the importance of working with diverse suppliers, including black-owned businesses, to promote equity and innovation. This trend presents a significant opportunity for black entrepreneurs to expand their reach and secure lucrative contracts.

Key Strategies for Success:

1. Get Certified as a Minority-Owned Business: Obtaining certification as a minority-owned business can open doors to new opportunities and contracts. Organizations like the National Minority Supplier Development Council (NMSDC) and the Small Business Administration (SBA) offer certification programs that connect black-owned businesses with corporations and government agencies seeking diverse suppliers.

2. Network with Supplier Diversity Programs: Many large corporations have supplier diversity programs that actively seek to partner with minority-owned businesses. Black entrepreneurs should research and reach out to these programs to explore potential partnerships and contracts. Attending supplier diversity conferences and events can also provide valuable networking opportunities.

3. Highlight Your Unique Value Proposition: To stand out in a competitive market, black-owned businesses should clearly communicate their unique value proposition. Whether it’s offering innovative products, superior customer service, or a commitment to sustainability, emphasizing what sets your business apart can help attract corporate clients and secure contracts.

4. Stay Compliant and Competitive: To maintain and grow relationships with corporate clients, black-owned businesses must stay compliant with industry regulations and standards. This includes meeting quality, safety, and delivery requirements. Continuous improvement and innovation are also key to staying competitive in the supply chain landscape.

Continuous Learning and Adaptation

In the rapidly changing business environment of 2024, continuous learning and adaptation are essential for the success of black-owned businesses. Staying ahead of industry trends, technological advancements, and market shifts requires a commitment to ongoing education and flexibility.

Key Strategies for Success:

1. Invest in Professional Development: Black entrepreneurs should prioritize professional development by attending workshops, enrolling in online courses, and seeking mentorship. Staying up-to-date with industry best practices and emerging trends can help you make informed decisions and stay competitive.

2. Embrace Technology and Innovation: Technology is a driving force behind many of the trends shaping the future of black-owned businesses. Embracing new technologies, such as AI, automation, and data analytics, can help streamline operations, improve customer experiences, and drive growth.

3. Be Open to Change: The ability to adapt to changing circumstances is crucial for long-term success. Black-owned businesses should remain agile and open to pivoting their strategies when necessary. Whether it’s adjusting your business model, exploring new markets, or experimenting with new products, staying flexible can help you navigate challenges and seize opportunities.

4. Foster a Culture of Innovation: Encouraging creativity and innovation within your team can lead to new ideas and solutions that drive your business forward. Creating a culture where employees feel empowered to share their ideas and take risks can lead to breakthroughs that set your business apart from the competition.

Conclusion

The future of black-owned businesses in 2024 is filled with both challenges and opportunities. By understanding and leveraging key trends such as the rise of e-commerce, the growth of social impact businesses, increased access to funding through fintech platforms, and the demand for diversity in supply chains, black entrepreneurs can position themselves for success.

Continuous learning, adaptation, and a commitment to innovation will be essential for navigating the rapidly changing business landscape. By staying ahead of the curve and embracing these trends, black-owned businesses can not only survive but thrive in 2024 and beyond. The time is now for black entrepreneurs to seize these opportunities, build strong, resilient businesses, and pave the way for future generations of black business leaders.

(BBR) Article Series 1 - August 2024 

In today's fast-paced, ever-evolving business landscape, black entrepreneurs face unique challenges and opportunities. While the barriers to entry in many industries have decreased, systemic obstacles and historical inequalities still persist. However, with the right strategies, black entrepreneurs can not only overcome these challenges but also thrive in competitive markets. This article will explore various strategies that can empower black entrepreneurs to achieve success, from developing a strong business plan to leveraging technology, building networks, and embracing adaptability and resilience.

Understanding the Landscape

The entrepreneurial journey for black business owners is often marked by unique challenges. According to the U.S. Census Bureau, there were over 3 million black-owned businesses in the United States as of 2021. Despite this growth, these businesses often face systemic barriers, including limited access to capital, underrepresentation in certain industries, and fewer opportunities for networking and mentorship compared to their white counterparts. Additionally, the legacy of racial discrimination can impact everything from loan approvals to customer perception.

However, the landscape is not without opportunities. The rise of digital platforms has democratized access to customers, and there is a growing movement towards supporting black-owned businesses, especially in the wake of social justice movements like Black Lives Matter. Consumers and corporations alike are increasingly recognizing the importance of diversity and inclusion, creating more opportunities for black entrepreneurs to carve out a niche in the market.

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Developing a Strong Business Plan

One of the most critical steps in ensuring success as an entrepreneur is developing a robust business plan. This plan serves as the blueprint for your business, outlining your goals, strategies, and financial projections. For black entrepreneurs, a strong business plan is particularly important, as it can help overcome some of the initial skepticism or bias that may exist among potential investors or partners.

A comprehensive business plan should include:

1. Executive Summary: A brief overview of your business, its mission, and what you aim to achieve.
2. Market Research: Detailed analysis of your target market, including demographics, needs, and competitive landscape. Understanding where your business fits in the broader market and how you can differentiate yourself is crucial.
3. Marketing Strategy: How do you plan to reach your target audience? This section should cover branding, advertising, social media, and any other channels you will use to attract customers.
4. Financial Projections: A realistic forecast of your financial performance, including revenue, expenses, and profit margins. Investors will pay close attention to this section to assess the viability of your business.
5. Operations Plan: A description of how your business will function on a day-to-day basis, including details about your supply chain, production processes, and team structure.

By taking the time to thoroughly research and plan, black entrepreneurs can better position themselves to navigate challenges and capitalize on opportunities.

Accessing Capital

One of the most significant hurdles for black entrepreneurs is access to capital. A report by the Federal Reserve found that black-owned businesses are less likely to receive funding than their white-owned counterparts, and when they do, the amounts are typically smaller and the interest rates higher. This disparity is often due to a combination of factors, including lower credit scores, less wealth accumulation, and systemic bias within financial institutions.

To overcome these challenges, black entrepreneurs should explore a variety of funding sources:

1. Traditional Bank Loans: While difficult to secure, especially without a strong credit history, traditional loans remain an option. Building a solid credit profile, maintaining detailed financial records, and presenting a well-developed business plan can improve your chances.
2. Community Development Financial Institutions (CDFIs): CDFIs are financial institutions that focus on providing credit and financial services to underserved markets. They often have more flexible lending criteria than traditional banks.
3. Venture Capital and Angel Investors: While VC funding is highly competitive, there is a growing number of funds and investors specifically focused on supporting minority-owned businesses. Organizations like Black Angel Tech Fund and Backstage Capital are examples of investors who prioritize black entrepreneurs.
4. Crowdfunding: Platforms like Kickstarter, Indiegogo, and GoFundMe allow entrepreneurs to raise small amounts of money from a large number of people. Crowdfunding can also serve as a marketing tool, helping to build a customer base even before your product or service is launched.
5. Grants and Competitions: There are numerous grants and business competitions aimed at supporting black entrepreneurs. Examples include the National Minority Supplier Development Council (NMSDC) grants and the Minority Business Development Agency (MBDA) programs. These opportunities can provide not just funding but also mentorship and networking resources.

Building a Strong Network

Networking is another critical factor in the success of any entrepreneur. For black entrepreneurs, building a strong network can help overcome some of the systemic barriers that exist. Networks provide access to mentorship, resources, potential clients, and investors. They also offer emotional and moral support, which is crucial during the inevitable ups and downs of entrepreneurship.

Here are some strategies for building a strong network:

1. Join Professional Organizations: Organizations like the National Black Chamber of Commerce, the National Minority Supplier Development Council, and local chambers of commerce offer valuable networking opportunities, resources, and support.
2. Attend Industry Conferences and Events: These events provide opportunities to meet potential partners, customers, and mentors. They also allow you to stay up-to-date with industry trends and best practices.
3. Leverage Social Media: Platforms like LinkedIn, Twitter, and even Instagram can be powerful tools for networking. Engage with thought leaders in your industry, participate in relevant discussions, and share your own insights to build your online presence.
4. Seek Out Mentorship: Finding a mentor who has experience in your industry can be invaluable. Mentors can offer guidance, open doors, and provide perspective based on their own experiences. Many organizations offer formal mentorship programs, including SCORE and the Minority Business Development Agency.

Embracing Technology

Technology is a powerful enabler for black entrepreneurs. In an increasingly digital world, the ability to leverage technology can make the difference between success and failure. From automating routine tasks to reaching global markets, technology offers numerous ways to improve efficiency, reduce costs, and grow your business.

Some key areas where technology can empower black entrepreneurs include:

1. E-commerce: Setting up an online store allows you to reach customers far beyond your local area. Platforms like Shopify, WooCommerce, and BigCommerce make it easy to start selling online, even without technical expertise.
2. Digital Marketing: Social media, email marketing, and search engine optimization (SEO) are powerful tools for reaching and engaging with customers. Tools like Google Analytics, Hootsuite, and Mailchimp can help you manage and measure your digital marketing efforts.
3. Automation: Automating routine tasks, such as invoicing, inventory management, and customer support, can save time and reduce errors. Software solutions like QuickBooks, Zoho, and Freshdesk offer affordable automation options for small businesses.
4. Data Analytics: Understanding customer behavior and market trends is crucial for making informed business decisions. Tools like Google Analytics, Tableau, and HubSpot provide valuable insights that can help you refine your strategies and improve your offerings.

By embracing technology, black entrepreneurs can level the playing field, compete with larger businesses, and scale more effectively.

Building Resilience and Adaptability

Resilience and adaptability are essential traits for any entrepreneur, but they are particularly important for black business owners who may face additional challenges. The ability to bounce back from setbacks, adapt to changing circumstances, and stay focused on long-term goals can make the difference between success and failure.

Here are some strategies for building resilience and adaptability:

1. Set Realistic Goals: While it's important to be ambitious, setting achievable short-term goals can help you build momentum and maintain motivation. Celebrate small wins along the way to stay energized and focused.
2. Learn from Failures: Every entrepreneur faces setbacks, but it's how you respond that matters. Instead of dwelling on failures, use them as learning opportunities. Analyze what went wrong, identify areas for improvement, and apply those lessons to future endeavors.
3. Stay Flexible: The business landscape is constantly changing, and successful entrepreneurs are those who can pivot when necessary. Whether it's adjusting your business model, exploring new revenue streams, or adapting to market trends, flexibility is key.
4. Prioritize Self-Care: Entrepreneurship can be stressful, and burnout is a real risk. Make time for self-care, whether it's through exercise, meditation, or spending time with loved ones. A healthy mind and body are essential for maintaining the resilience needed to navigate the ups and downs of business ownership.

Giving Back to the Community

Finally, one of the most powerful ways to empower yourself as a black entrepreneur is to give back to your community. By supporting other black-owned businesses, mentoring aspiring entrepreneurs, and investing in community initiatives, you create a positive feedback loop that benefits everyone. Not only does this strengthen the community, but it also builds your reputation as a leader and role model.

Consider these ways to give back:

1. Mentorship: Share your knowledge and experience with the next generation of entrepreneurs. This could be through formal mentorship programs or simply offering advice and support to those who reach out.
2. Community Involvement: Get involved in local initiatives that support economic development, education, and social justice. This could include sponsoring events, volunteering your time, or providing resources to community organizations.
3. Collaboration: Partner with other black-owned businesses to create joint ventures, co-marketing opportunities, or community projects. Collaboration not only benefits your business but also strengthens the overall ecosystem of black entrepreneurship.

Conclusion

Empowering black entrepreneurs in a competitive market requires a multifaceted approach. By developing a strong business plan, accessing capital, building networks, embracing technology.

(BBR) Chip Dizárd took photos at the official launch of Allison Manwell's book Someday is Today: Achieveing Racial Equity in the Workplace at the Reginald F. Lewis Museum in Baltimore, Maryland.

Chip have compiled a list of 10 essential photos you need from your book launch.

1. Book Cover Photo

Allison holds her latest book (Photo by Chip Dizard)

A cover photo is a must-have for any book launch. This image should feature you standing proudly next to a display of your book, showcasing the cover design.

2. Author Signing

Allison signs books for attendees (Photo by Chip Dizard)

This photo captures the personal connection between you and your readers and can be a great promotional tool for future book signings.

3. Key Attendees Group Shots

Michael Cryor of the Cryor Group and Allison

Nothing speaks more than an endorsement of your book. On your shot list, get key attendees or those who attend your book launch.

Key women who support Allison and her books.

4. Guest Interactions

Guest interactions at the book launch.

Book launch photos should give you a sense of what it was like to be there, and it also should have you in FOMO-Fear of Missing Out.

5. Book Merchandise/Display

Book store

Bookmarks and book information

If you have any merchandise related to your book, like bookmarks or tote bags, take photos of them on display. These images can help promote your book and create additional revenue streams.

6. Author Discussion

Robert Matthews leads the discussion about the book.

Try to get real emotion from the author's discussion of the book. Any movement or facial expression helps tell the story of the event.

7. Audience Reactions

Audience members react to jokes being told during Allison's book launch.

Show the audience and people who attended the event. Action photos work best for marketing.

8. Show Sales

Sales transactions of Allison's books.

It's a book launch, but ultimately it's a sales event. You have to show that sales are being made and transactions have occurred. Try to get sales photos without any personal and identifying information being shown.

9. Food Set up

Catering by Class Act Catering

Class Act's famous lump crab dip was a hit.

Class Act provided catering, and of course, the attendees enjoyed it. It's best to get the food set up early as it tells the event's story.

10. Photos with Guests

Smiling photo with a guest.

Photos with guests are very important to capture. Often, the author knows many of the guests and will pose for photos with them.

Bonus Photo Tip: Author Signature Portrait

Allison requested a shot of her looking at her previous building where she worked.

Every author needs a signature portrait that means something to them. This photo Allison showed Allison looking at the previous building where she worked and embracing the future.

Bonus Tip: Get Video

Video can tie everything together and show action and emotion.

https://vimeo.com/990742350?share=copy  Video link

In Closing

Every event is filled with unique memories worth preserving. If you have an upcoming celebration, big or small, I’d love to help you capture those moments in a way you’ll treasure forever.

Please feel free to contact me about your event and how we can collaborate to create meaningful content.

(All photos and video by Chip Dizard Studios)

(BBR) Building a successful business requires immense dedication, strategic planning, and a thorough understanding of potential pitfalls. Unfortunately, not every entrepreneurial venture achieves the desired level of success. Business crashes can occur due to various factors, and it is crucial for entrepreneurs to identify and address these issues to prevent a catastrophic outcome. In this article, we will explore the top ten reasons behind a business crash and provide insights on how to avoid them.

1. Poor Financial Management:

One of the primary reasons businesses fail is inadequate financial management. Entrepreneurs must maintain accurate financial records, understand cash flow, and allocate resources efficiently. Failing to keep a close eye on finances can lead to excessive debt, insufficient working capital, and an inability to meet financial obligations.

2. Lack of Market Research:

A lack of understanding about the target market can be disastrous. Entrepreneurs must conduct comprehensive market research to identify their customers, analyze competitors, and anticipate market trends. Neglecting this crucial step can result in developing products or services that do not meet customer needs, leading to poor sales and eventual failure.

3. Ineffective Marketing Strategies:

Even with a remarkable product or service, a business can crash if it fails to reach the right audience. Ineffective marketing strategies, including a lack of brand visibility, poor messaging, or an inadequate online presence, can hinder business growth. It is essential to invest in targeted marketing campaigns and utilize various channels to engage with potential customers.

4. Ignoring Customer Feedback:

Customers are the lifeblood of any business. Ignoring their feedback and failing to adapt to their needs can lead to a significant downfall. Regularly soliciting customer opinions, addressing complaints, and continuously improving products or services based on feedback is crucial for long-term success.

5. Poor Leadership and Decision-making:

Strong leadership is imperative for guiding a business to success. Poor decision-making, lack of vision, or an inability to adapt to changing circumstances can lead to a business crash. Entrepreneurs should foster a culture of open communication, encourage collaboration, and surround themselves with competent team members who can provide valuable insights and expertise.

6. Failure to Innovate:

In today's dynamic business landscape, failing to innovate can quickly render a company obsolete. Industries evolve rapidly, and businesses must adapt to stay competitive. Neglecting to invest in research and development, failing to introduce new products or services, or being resistant to change can result in losing market share to more innovative competitors.

7. Insufficient Scalability:

A business crash can occur if a company fails to scale its operations effectively. Rapid growth without proper planning and infrastructure can lead to inefficiencies, customer dissatisfaction, and operational failures. Entrepreneurs should anticipate growth and have robust systems in place to support expansion.

8. Lack of a Strong Team:

No business can succeed without a competent and motivated team. A lack of skilled employees, poor team dynamics, or high turnover rates can hinder productivity and impact overall business performance. Building a strong team, investing in employee training and development, and fostering a positive work environment are essential for sustained success.

9. Inadequate Risk Management:

Entrepreneurs must identify and mitigate risks to ensure long-term business sustainability. Failure to assess potential risks, including economic downturns, technological advancements, or changes in regulations, can have severe consequences. Developing contingency plans and regularly reassessing risks can help mitigate their impact.

10. Inadequate Adaptation to Technology:

In today's digital age, businesses that fail to embrace technology may find themselves at a significant disadvantage. Adopting outdated systems, neglecting to leverage digital marketing tools, or lacking an online presence can limit growth potential. Embracing technology and staying abreast of industry trends is essential for remaining competitive.

Conclusion:

While building a successful business is challenging, understanding and addressing the reasons behind business crashes can help entrepreneurs avoid common pitfalls. By maintaining sound financial management, conducting market research, developing effective marketing strategies, prioritizing customer feedback, fostering strong leadership, encouraging innovation, scaling operations efficiently, building a competent team, managing risks, and embracing technology, entrepreneurs can enhance their chances of long-term success. Remember, learning from mistakes and continuously adapting are key elements of a resilient and thriving business.

(BBR)   Have you ever heard the phrase "living rent-free in your head"? It's often used to describe people who we can't seem to stop thinking about, even if they are no longer a part of our lives. These people can be ex-partners, former friends, or even people we never actually had a relationship with. They take up space in our minds, and we can't seem to evict them.

So, who is still living in your head rent-free? Is it an ex-partner who you can't seem to forget? Or perhaps it's a friend who hurt you in the past. Whatever the case may be, it's important to understand why these people are still occupying your thoughts.

One possibility is that you haven't fully processed the emotions associated with the person. Maybe you were hurt by them and never had the chance to fully express how you felt. Or perhaps you have unresolved feelings for them and haven't been able to let go.

Another possibility is that you are holding onto the past. You might be romanticizing a past relationship or friendship, and not seeing it for what it truly was. You may also be afraid of moving on and creating new relationships.

It's important to recognize when someone is living rent-free in your head, and take steps to evict them. This might mean confronting your emotions and talking to someone about how you feel. It might also mean making a conscious effort to focus on the present and future, rather than dwelling on the past.

Ultimately, the people who are living in your head rent-free are taking up valuable mental real estate that could be better used for positive thoughts and experiences. By acknowledging their presence and taking steps to evict them, you can create more space for positivity and growth in your life

(BBR)  Sysco, a leading global food distribution company, has recently welcomed Antwon Edwards as their new Transportation Training Manager. Edwards comes with a wealth of experience, having spent 8 years as a Transportation Manager with DHLs where he made significant contributions to the company's success. He was instrumental in implementing the first in-house CDL exam class and became certified within Maryland to do so.

But his contributions to the transportation industry don't end there. Edwards co-founded the Always Available CDL Permit Program, which helps adults learn the permit book by reading it to them and answering any questions they may have. This program has helped many aspiring drivers overcome the hurdles of obtaining a CDL permit and has contributed to reducing the driver shortage crisis in the industry.

But Edwards' dedication to the community doesn't stop with his professional career. He spends his free time volunteering at the Center of Urban Families for second chance adults, where he helps people with resume writing and the single dad program. He understands the importance of giving back to the community and has made it a priority in his life.

In addition to his passion for helping others, Edwards also enjoys fishing and smoking cigars. These hobbies allow him to unwind and recharge after a long day, and he often shares his catches with his colleagues at Sysco.

As the new Transportation Training Manager at Sysco, Edwards brings with him a unique skill set and a commitment to excellence. He understands the challenges faced by drivers and is passionate about developing training programs that can help them overcome these challenges. With his experience in implementing in-house CDL exam classes and co-founding the Always Available CDL Permit Program, Edwards is well-equipped to lead Sysco's transportation training efforts.

In conclusion, Antwon Edwards' appointment as Sysco's Transportation Training Manager is a significant development for the company and the transportation industry. His passion for helping others, dedication to the community, and experience in the industry make him an ideal candidate for the role. We can expect to see great things from Edwards in the coming years as he works to develop training programs that can help Sysco's drivers excel in their roles.

Contact Information

https://alwaysavailableparking.com

(BBR)  John Lewis has been appointed as the new CEO of the Harbor Bank of Maryland, taking over from Joseph Haskins Jr., who stepped down after 40 years of dedicated service. As the only Black-owned and -managed commercial bank in the state, the Harbor Bank has a long history of serving the black business community and promoting economic empowerment.

Lewis brings a wealth of experience and expertise to his new role. He served as President and CEO of the Baltimore Development Corporation, where he was instrumental in driving economic development and community empowerment initiatives. Prior to that, he held various leadership positions in the public and private sectors, including serving as Chief of Staff to the former Baltimore City Council President.

In addition to his extensive professional background, Lewis has also been an active member of the Harbor Bank's board of directors for over a decade. He has a deep understanding of the bank's operations and mission, and is committed to continuing its legacy of supporting black-owned businesses and promoting inclusive economic growth.

Under Lewis's leadership, the Harbor Bank plans to focus on expanding its reach and impact, developing new products and services to better serve the needs of its customers, and leveraging technology to enhance customer experiences. He also recognizes the bank's important role in advocating for racial equity and social justice, and plans to continue supporting community initiatives and advocating for policies that promote inclusive economic growth and address systemic inequalities.

The appointment of John Lewis as CEO of the Harbor Bank of Maryland is a significant development for the black business community in the state. With his extensive experience and commitment to promoting economic empowerment, Lewis is well-positioned to lead the bank into a new era of growth and success. We look forward to seeing the positive impact he will have on the bank and the broader community.

(BBR)  It’s been a relatively good few years for African-American small business owners.

According to a subset of data in the 2020 State of Small Business report from Guidant Financial and the Lending Club, African-American small business owners are happy these days.

In fact, 70% of them say they are either “somewhat happy” or “very happy” with their businesses. And 72% of African-American small business owners say their businesses are “currently profitable.”

However, the study also shows African-American business owners are “are less confident than the average small business owner about the state of small business in this political climate, with 53% of African-Americans saying they are either “somewhat confident” or “very confident” compared to 60% of average small business owners saying the same.

Startup motivations

Being “ready to be my own boss” was the primary reason African-American survey respondents started their businesses (34%). This was followed by a “desire to pursue my own passion” (29%), “dissatisfaction with corporate America” (13%), and “the opportunity presented itself” (10%). These stats are a bit of a change since a previous Guidant survey showed 62% started a business to “pursue their passion.”

Diversity of African-American business owners

Overall, African-American small business owners are younger and include more women than the general small business population. The study reports 22% of African-American small business owners are millennials, nearly twice as many as the 12% of millennial small business owners in the general population.

African-American women entrepreneurs

The Guidant report shows, “There are more female African-American small business owners than the general population of business owners. In the American small business universe, 27% of small businesses are women, among African-American owned businesses, 35% are women.

The American Express 2019 State of Women-Owned Businesses

 report has slightly different numbers about African-American/Black women-owned businesses:

• # of businesses: 2,681,200 . That’s 21% of all women-owned businesses, making it the largest segment of women-owned businesses after non-minority women.
• Growth rate: Grown at an annual rate for the past year of 12% compared to an 8% annual growth rate between 2014 and 2019. Represents the highest rate of growth of any group in the number of firms between 2014 and 2019 and between 2018 and 2019.

The concerning stat is about earned average revenue. African-American businesses owned by women in this report earned an average of $24,000 per firm vs. $142,900 among all women-owned businesses. This gap, says the report, is “the greatest of any minority [group].

According to digitalundivided’s Project Diane 2018 report, The State of Black Women Founders ( the report is issued every two years) the number of startups founded by Black women more than doubled from 2016 to 2018—to less than 4%. But that’s small compared to the percentage of Black women in the U.S. (14% of women in the U.S. are Black). Nearly half of all African-American women-led startups were in California and New York.

In fact, according to BlackBusiness.com, New York state has the most (regardless of the gender of the owner) Black-owned businesses—-204,093—which is 10.6% of the businesses in the state, followed by Georgia, Florida, and Texas. However, Washington DC has the highest percentage of Black-owned businesses in the country with 28%.

Challenges for African-American business owners

Lack of capital and cash flow is the biggest challenge for African-American small business owners, according to Guidant. That’s not really a surprise since those are the same problems most small business owners face.

But fewer African-American small businesses are approved for financing, often at lower amounts of money with higher interest rates, according to a report in The Washington Post. Guidant reports that the “wealth gap also contributes to financing challenges…making it harder to [get] financing. Without the funds to invest in as many resources as other businesses, such as hiring talent or marketing and advertising, competing for contracts or attracting clients becomes exponentially more difficult.”

Small business can be a lonely venture

A report, 8 Insights on the State of Black Entrepreneurship, from American Express reports 47% of African-American small business owners run their businesses by themselves, compared to the 33% of average small business owners. And African-American businesses have fewer employees: 38% have 2-5 employees and only 7% have 6-10 employees. This compares with the average small business owner, with 41% employing 2-5 workers and 12% employing six to 10 workers.

Getting funding

More African-American small business owners (44%) use cash to fund their businesses than the average small business owner (37%), according to the Guidant report. Only 15% get help from friends and family, which was the second most popular source of capital for African-American business owners.

Other funding sources for African-American business owners include:

• Lines of credit
• Rollovers for Business Start-ups (ROBS), financing that allows small business owners to tap into eligible retirement accounts to fund their businesses without tax penalties. Guidant says this grew by 21% in popularity among African-American small businesses year over year.
• Unsecured loans
• Peer-to-peer
• Equipment leasing
• SBA loans

And according to Project Diane, the picture for African-American women is equally challenging—since “2009, Black women led startups have raised $289MM in venture/angel funding, with a significant portion of that raised in 2017. This represents .0006% of the $424.7 billion in total tech venture funding raised since 2009.”

Entrepreneurship is in many ways, a mirror to life — you start with a blank page and a head full of ideas. How you fill that page will depend on a lot of inner characteristics — vision, patience, perseverance, empathy, stubbornness. Plus, one external thing— “a dash of luck”.

Often enough, “luck” is the collective term for the things we don’t talk about, the things we shush. The elusive “luck” is in many ways, “uncomfortable” things like privilege, background, family, connections, etc.

For Black entrepreneurs, the above kind of “luck” has been so minimal — or even nonexistent — that they went on to defy it and create their own. We can only admire the courage of the people who beat the odds of life and became not just successful entrepreneurs but role models far beyond their communities.

Today, I’d like to give an ear to their stories — the stories of the Black entrepreneurs next door who made it when all the odds were against them. They “beat the odds”. So can you.

1. Antonio Wells: “Never let someone who lacks vision stop yours”

Today, Antonio Wells is the owner of Chicago-based brand growth and marketing agency NAMYNOT Inc.

Helping businesses from start-ups to Fortune 100 companies grow their brand, Antonio is a serial entrepreneur who started a tech review company back in 2009. Back then, launching on a “shoestring budget”, Antonio was able to grow the company organically into a global leader in the app review industry, and successfully sell it.

“In 2009, I started a popular mobile app review site called AndroidTapp.com. With great content, a mastery of SEO, and good ole fashion journalism. The company never received funding and was able to grow exponentially by reinvesting,” Antonio says. “The greatest challenge I faced was lack of funding [and] lack of knowledge in finding alternative ways of gaining funding. However, I turned this lack into execution by working with what I had and continually reinvesting (oftentimes 100%) until I hit a point of profitability.”

For Antonio, the most important thing in life has been to never give in when others fail to believe in you or your business. Even such a critical aspect as lack of funding for business isn’t enough reason to give up on your goal.

Business tip

Antonio’s business journey shows that strategic financial planning is vital to any startup or growing business. But on top of that, his motto is to never let even well-meaning advisors (of which there’ll be plenty) to interfere with your vision. Whatever the financial hardship, there’s a way to adapt the means to your goals. Some of the best ways to cut back on business costs are reinvesting in the business, studying profit margins, and building a simple financial model for your business.

2. Jamie R.Wright: “It’s not that I’ve always known who I would be, it was just very clear to me who I wouldn’t be.”

Starting or growing a business during a pandemic is an immense challenge in itself. Starting a business as a victim of domestic violence in the middle of a pandemic, while fighting for your safety at a women’s shelter around Houston, TX, is something that takes unprecedented courage.

Jamie Wright is one such amazing woman. Fighting not just for her life, but for the life of women in similar circumstances as she, she became a trauma & self-love advocate, author, motivational speaker and ambassador for women subjected to domestic abuse. Jamie’s story and practical advice has already been shared on BBC News, CBS, Fox 26, 60 Minutes Quibi and more.

“As a survivor of domestic violence, I share my story of triumph in a way that inspires others,” Jamie says “I also provide practical ‘how-to’ tips and tools in an effort to help others radically transform their lives. The greatest business challenge I faced overcoming my self-doubt and disempowering thoughts by realizing that all that I needed was within me. I may have been victimized, but I AM NOT a victim. Adversity is an opportunity to remind/show myself how strong and resilient I am.”

Business tip

A survivor of domestic violence that has accomplished everything through her faith and courage, Jamie’s motto is a paraphrase of Oprah’s quote, “It’s not that I’ve always known who I would be, it was just very clear to me who I wouldn’t be.” Whatever life situation you’re currently in, Jamie reminds you to find a community that will guide and support you, like an online business community for Black entrepreneurs. Seeking help isn’t about a lack of courage. It’s about real, hands-on courage. When we are backed by people who understand our experiences, we can move mountains — even in times of a pandemic and personal trauma.

3. Vid Lamonte’ Buggs Jr.: “To persevere and overcome the odds, have a warrior mindset and live a warrior lifestyle”

People often call Vid Buggs the “modern Renaissance man”, i.e., a man of many talents. He is owner of an entrepreneur, bestselling author, athlete, public speaker — and that’s just a part of his accomplishments.

But throughout his childhood, it seemed the odds were turned against Vid. Born with a medical condition that made doctors believe he wouldn’t be able to walk or run normally, and facing academic challenges in school, he went on to graduate with the highest honors, obtain multiple degrees, engage in sports, and find his life’s purpose in a hidden talent.

“It was 2013–2014 and I just was waived by an NBDL team,” Vid says. “My girlfriend and I were expecting a baby girl. [We were] in Florida without any family to help during one of the most challenging times in my life. However, due to this crossroads, I decided to pursue some goals I had put on the backburner. Those goals were starting a Publishing Company, starting an Enterprise, Publish a book, and Public Speak on a national level. Through basketball training and money I had saved up, I was able to publish my book, “You Ain’t Hungry Until I’m Starving”, with the help of Marci Wise. I also was able to start both of my companies.”

Business tip

As Vid says, “No matter what we want to do or who we want to be in life, we will go through challenges. People will doubt us, and tell us what odds are against us. In order, to persevere, overcome the odds and be successful, a person must have a warrior mindset and live a warrior lifestyle.”  In other words, if you want to change your life, start with changing your mindset and acquiring key business skills like communication, networking, sales negotiation, and digital skills.

4. “Michele Davis: “Take the time to discover what makes you happy and fulfilled in every aspect of your life.”

One day in 2016, Michele took the leap of faith many would’ve considered improbable. At 45 years of age, she became a first-time entrepreneur with no prior experience. Back then, she launched Marketing Gem Solutions, a website design, branding, and SMM company supporting female entrepreneurs.

Through her active learning and perseverance, Michele’s business story soon took off. But only three years later, personal tragedy struck. Michele’s son died, leaving her heartbroken after the greatest challenge a human being can face. Surprisingly, one day she found the courage and fearlessness to rise up and even reinvent her business.

“After I felt emotionally able to return to the world […] I decided to contact clients just to check in on their progress in their business. The more I spoke to the women, the more I realized they needed business mentorship. That’s when I decided to provide [them with] a step-by-step blueprint. My focus with Phenomenal Boss Academy is helping women launch a profitable and sustainable business in 90-days or less.”

Business tip

For many people, starting a business after 40, or even starting a business after 50 with no experience to boot, sounds frightening. But for Michele, it has become more than a plan B, but an unexpected support that helped her come back to life through helping others. This is why she’s an advocate of the spiritual, mindful approach to business concepts. “I always advise people to take the time to discover what makes you happy and fulfilled in every aspect of your life. Evaluate what you need spiritually, emotionally, financially, and so forth to make you feel happy and fulfilled.” When your business is about more than “work”, your success becomes a link between other people. To paraphrase Vernon Jordan, standing on the shoulders of others, you lend your own shoulder to those following you.

5. Jen Ngozi: “Cancel Perfectionism!”

Jen Ngozi grew up in a first-generation African immigrant family who came to the U.S. with nothing but $10 in their pockets. Growing up in a minority community, she had no corporate-American parents, birth privilege, or business role models to emulate.

Set on working hard and giving back, Jen fought for and forged her own path in business and went on to found NetWerk, a global woman in leadership movement and organization helping everyday women worldwide build the community, confidence, and skills needed to become leaders. Jen’s movement has met with worldwide acclaim and partnered up with brands like Teen Vogue and the United Nations Foundation. Her secret? Letting go of perfectionism in favor of lifelong learning.

“It’s important to embrace the entire process of building an organization, including mistakes,” Jen says. “Throughout my business journey, I learned how detrimental perfectionism is to growth. And I’ve decided that we never really make mistakes, we only get better aligned to our original purpose. [You could say that] mistakes made my vision clearer.”

Business tip

Cutting out perfectionism aka the “all or nothing mindset” is what Jen considers the biggest asset in business and life. If perfectionism is your roadblock, don’t stop doing what you’re doing. Keep on doing it while you learn more. Jen says that it’s been mentorship that propelled her business forward drastically. She relies on SCORE, the SBA’s volunteer mentor organization from/to small business owners where anyone can connect to a business mentor for free, or sign up to mentor others. If you’re starting a business, learning practical financial practices, strategies to cut back on business costs, and filling inevitable gaps in your business, sales, or marketing knowledge is a shortcut through mentorship.

Final word

Black History Month isn’t just a celebration of roots, courage, and overcoming. It’s also an important lesson for every single community, minority group, and underprivileged society. A lesson about creating our own “luck” — and fate.

Like African American film director Spike Lee said, “I believe in destiny. But I also believe that you can’t just sit back and let destiny happen.”

Don’t wait for destiny to happen. If that’s what you’ve been dreaming about, become an entrepreneur. Beat all the odds.

A lot of what we know about the iPhone 12 range is suddenly in doubt and it’s not all good news. But now new information has revealed that everyone is in for a shock when it comes to Apple’s most exciting new model.

In an eye-opening exclusive, hugely popular YouTuber Filip Koroy (aka EverythingApplePro) has revealed that Apple’s all-new (cut-price) 5.4-inch iPhone 12 will be the smallest iPhone the company has sold in years. The result is the truly compact yet premium device millions have wanted ever since smartphones grew to the size of tablets. 

06/20 Update: Koroy has followed up his chassis leaks with new information on the CADs that allowed him to mold the full iPhone 12 line-up. He explains that "examining these CADs we can tell that they are definitely recent, they are not the old December ones from 2019 which had the smart connector [since moved to the 2021 iPhone]... and these molds paint a completely different picture than what was suggested." Changes include a larger camera layout with different lens spacing and, crucially, no smaller notch and no LiDAR sensor. That said, the same caveats remain about the details Apple is likely to be holding back from case makers, who are believed to be the source of these latest CADs once again. Given the stunning design detail we have already seen based on previous leaks, even Koroy hopes his sources are wrong. Either way, there is a clear split developing in the leaker community over whether Apple will be delivering a major design update with the iPhone 12 or simply a flat-edged clone of the iPhone 11 models.

“People who love tiny phones are in for a treat with the new 5.4-in iPhone. Smaller than a new SE!” exclaimed Koroy, who illustrated this using a new mold of the handset alongside Apple’s recently released 4.7-inch (gen 2) iPhone SE. 


Apple achieves this because the 5.4-inch iPhone 12 uses a bezel-less design. And Koroy has further good news, explaining that the large notch you see in the video is unlikely to be final. That’s because the mold comes from schematics given to case makers. While case makers need extremely accurate dimensions, they don’t need the information about the notch or number of cameras so Apple uses the previous design.

How small exactly is the new 5.4-inch iPhone 12? Koroy has yet to provide exact measurements, but they look close to the early dimensions attained by Macotakara back in February. I have put them below, alongside official dimensions of other iPhones for context: 

5.4-inch iPhone 12: 131 x 64 mm (5.15 x 2.51-inches)
4.7-inch iPhone SE (2020): 138 x 67 mm (5.43 x 2.65-inches)
4-inch iPhone SE (2016): 123 x 58 mm (4.84 x 2.28-inches)
5.8-inch iPhone 11 Pro: 144 x 71.4 mm (5.67 x 2.81 x 0.32-inches)

You’ll spot that the 5.4-inch iPhone 12 is also narrower than the 4.7-inch iPhone SE. This is because Apple’s bezel-less design uses a display with a 19.5:9 aspect ratio which is longer and narrower than the 16:9 ratio used in both iPhone SE models. 

Downsides? The big omissions are the 120Hz ProMotion Display and new LiDAR sensor heading to iPhone 12 Pro models, while the optical zoom lens will again remain a Pro-exclusive in 2020. That said, the 5.4-inch iPhone 12, like the (newly renamed) 6.1-inch iPhone 12 Max, will have 5G, step up to an OLED display and use the same primary cameras and ballistic new A14 chipset as the Pros. 


So while smartphone fans will have heated debates about whether Apple’s iPhone 12 Pro models beat the competition, what’s far more interesting is no rival has anything to compete with the size+specifications of the 5.4-inch iPhone 12. For me, that makes it 2020’s most exciting smartphone

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