Black-Owned Businesses: Accomplish EVERYTHING you want in 3 steps!
Updated: Nov 12, 2020
I love public speaking. I love to motivate and stir up untapped and exhausted gifts that lay dormant in people I meet. If someone tells me, "Hey, I want to be a CEO!" I'm prone to believe you and tell you to go for it! Got a great idea? You need to have 3 things:
1. Identify your resources.
Resources come in the form of capital - both monetary and human. These are tools you will need to build a plan. Will you need a financial planner? Will you need a current copy of your credit report to pay down your debt? What services or products will you sell as CEO? Have you identified a business mentor you can mirror and emulate? How many sqaure feet can you afford to purchase for your store front? What will your online presence resemble? These are just a few resources you will need when you decide you want to become a CEO.
2. Develop a plan to use those resources.
What exactly is a plan? A plan is a set of ordered steps as to how you will use the resources you have (or need to obtain) to achieve your goal. You have found a financial planner, researched the debt consolidation process, and set prices for your products and services according to your business plan and financial objective. Now that you have your tools in place, you can execute!
3. Incorporate a strategy to execute the plan.
The strategy is how you plan to walk out those ordered steps - working the plan, execution. You schedule meetings with your financial planner every 3 months for the next year. You have penciled in lunch with your mentor every other week. You have budgeted down to the penny in order to pay off debt. You have looked for start-up capital from your financial institution and other Community Development Financial Institutions (an alternative to traditional banks). And you are attending local SCORE classes to get additional FREE small business advice.
One... Two... Three.
That simple yet, these three steps may take years to perform repeatedly before you begin to see results and results do vary. Plans change. Resources become exhausted. You may find yourself repeating these steps over and over and over again. That is part of the process.
Having a plan is the most important part. Don't reinvent the wheel when writing your business plan. Here are some Resources that will help you stay organized and on task! ✔️ http://100startup.com/#resources ✔️ http://www.oprah.com/omagazine/Your-Great-Idea-Whose-Time-Has-Come/ ✔️ Bplan.com ✔️ https://www.sba.gov/tools/business-plan/1 ✔️ https://www.score.org/resources/business-planning-financial-statements-template-gallery ✔️ https://www.rocketlawyer.com/form/business-plan.rl
Been rejected by a bank for a small business loan, try a community lender. Community Lenders are U.S. Treasury Department certified to help underserved communities become sustainable through business development and job creation. To find a Community Lender near you click here.
Revisit the Minority Report website for encouragement along the way.