*Even though the number of Black entrepreneurs is rising steadily, these business owners are faced with the challenge of existing with barriers that are deeply rooted around them.

These barriers make it difficult for these brilliant minds to garner enough attention so they can raise enough capital for their ideas to succeed.

Tiffany Hall, the founder of Empower Cocktails, said that there is more support out there for multi-billion-dollar businesses as opposed to small-scale Black-owned businesses to succeed. Martin Ekechukwu, the founder of WHTWRKS Inc. and Hope Noel, the founder of Haute Trader, came up with the following tips for up and coming Black entrepreneurs.

1. Find Other Strategies of Funding Your Business

In the development stage of her business, Hope Noelle had to take up multiple roles since she didn’t have the traditional capital for marketing and operating costs. This is why she strongly recommends Black entrepreneurs to be DIY business owners and to develop their own set of skills.

2. Find Out Everything You Can About the Industry

After raising funds, most Black entrepreneurs struggle to learn about how their industry operates. Tiffany Hall believes small business owners can do so by networking with industry experts and attending the right conferences.

Hall said, “I leveraged the network I built over the course of my career [and] committed to being a student of all components of creating a cocktails business.”

3. Gather Supporters

Martin Ekechukwu believes that new business owners need to have a tribe of people around them who already understand how difficult it can be to differentiate yourself and raise capital as a Black entrepreneur. In order to do so, these entrepreneurs will have to talk openly about their aspirations and have no shame in pushing their ideas to gather support.

4. Focus Only on Things That Will Drive Your Business Forward

While this may seem very straightforward, successful Black entrepreneurs believe this is easy to overlook during the planning process and is vital for the business to kick-off. This is why Black entrepreneurs need to set aside time on a daily basis to focus on only those things that drive sustainability. Of course, this part will take the most time, but it is the sole ingredient responsible for putting you in the right mindset to manage your business.

Adversity is an important part of the whole entrepreneurial process, and don’t let it break your spirit. These challenges will help you gain confidence and add diversity to the American business landscape while also adding to your legacy of entrepreneurship.

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