The moment that you realize that it takes money to make money, that's when your company will take off. Black entrepreneurs, in particular, have a problem understanding this concept.
We have to open our eyes, and snap out of it! I'm very confident that this is one of the reasons why Black businesses are more likely to fail than our white counterparts.
You must invest in your ideas. Not just time and energy...but money too! If you don't have a lot of money to invest, then learn to make sacrifices. Cut back on all those clothes you buy, those vacations you take, those cigarettes you smoke, etc.
Ask any successful entrepreneur, and they will tell you that in the beginning they had to make sacrifices so that they could invest more money into their ideas.
Worse come to worse, you need to get out there and start fundraising. That's right, fundraising - just like they do in elementary school. Oh, you thought this would be easy? Think again.
I total agree. You definately need money to make money. You need time too. And in the beginning it's have to have both at the same time. But I've learned to barter some things and also reinvest the money I make back into the business. After all I need to pay off the student loans before getting a house!
ReplyDeleteBest Regards,
Arthur Cundy
Dante,
ReplyDeleteI am interested in this blog. I happened upon it today on BlackNews e-newsletter that I subscribe to. After butting heads so to speak with various bosses, I am very tired of working for others and feel that I have what it takes to be my own boss. I have considered starting a private day care from my home, but would like to know for the future what type of money would be needed for expansion for purchasing my own building or even leasing one until I can build my own. Any information that you have would be helpful.
Jennifer
Dante,
ReplyDeleteYour comment about fundraising resonates with me.
Would you please share more of your opinions and ideas about that subject?
Most specifically, I would like to learn more about appropriate fundraising opportunities, and methods.
Thank you.