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Managing for Success: 5 Tips from Minority Business Owners

Tip #1: Don’t Freak Out! “Business is a series of solving problems. As much as you can, don’t torture yourself.” Tip #2: Hire the Right People “There are qualified people out there, who might work for options or future opportunities. Be creative to get who you want.” Tip #3: Network Become “a certified minority-owned business” and utilize resources like the “Minority Business Development Agency.” “You learn so much from other minority business enterprises and sharing ideas.” Tip #4: Take Advantage of Government Programs “The Small Business Administration is an excellent resource and lists several federal programs that offer services and assistance in everything from starting a company to finding funding.” Tip #5: Be Savvy About Finding and Accessing Capital

  • Do your homework: “Entrepreneurs should get savvy about all their options and choose the financing model that best aligns with their business goals and capital needs.”
  • Grow your network: “A lack of access to capital largely stems from a lack of access to capital providers.”
  • Practice your pitch: “Learn how to position your business according to what investors are looking for in an investment.”
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