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Old 12-26-2018, 12:31 PM
 
25,142 posts, read 27,439,316 times
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Quote:
Originally Posted by craigiri View Post
Am I missing something here or is most of this stuff not relevant to anything a 24+ year old who is looking to go into business able to change????

We don't pick our place of birth, position in society or culture...or even geographic location.....

So, school me here, what good does saying "If only, then" do?

Would me posting an explanation of slavery and all the harm done as a prelude to business advice help someone?
I was just answering the headline questions in the thread. I think his future choices in mate and family structure would have a very big impact on his future business ownership. A smart and supportive spouse makes a huge difference in ones future career/business prospects.
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Old 12-26-2018, 12:36 PM
 
3,765 posts, read 3,112,390 times
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It looks as though the OP hasn't a clue about his own AA entrepreneurial history. Black owned businesses were a common sight at one time, car repair, restaurants, dry cleaners, barbers, handymen, etc, all were fully engaged in the black community and most did pretty well for themselves. By the fifties, and early sixties Asians began to move into the AA areas, they had an ethnic based credit situation which was closed to all others, and most of the transactions were private individuals working together outside of the norms of banking laws and the type of credit scrutiny that blacks had to rely on.

Black people were quite successful in their own communities at one time, but the notion of desegregation and the introduction of a wider access to white owned businesses were often the death knell for the black business owner. The influx of Asian people created something that looked a lot like the old black neighborhood dynamic, Asians living and working in a relatively closed society within the previous black only neighborhoods.

The entire US business dynamic meanwhile was changing to reflect the coming of the chain stores, restaurants, beauty salons, auto repair, and other businesses which were at one time, almost all family owned. Today we see the shrinking small business presence as a fact of American life, but the small enterprises that are thriving now are mostly owned and patronized by recent Somalian or mid eastern refugees, it's a cyclic situation that plays out as each group is assimilated into the more mainstream consumer culture.
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Old 12-29-2018, 05:58 AM
 
Location: Honolulu, HI
5,357 posts, read 1,443,296 times
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I'm black, obviously. There's plenty of black owned or formerly owned successful business. Magic Johson and Tyler Perry come to mind. The answer to the OP, like many related questions, are very complex. Here's a few:

Lack of support group and support structure in business and networking. Black just doesn't have the finical resources and support groups of Jews, Arabs, and Asians. When you grow up in a dysfunctional single parent household (72%), you're just trying to survive. The last thing on your mind is owning a business

Lack of black client support. It's true, many black don't support black businesses outside of barber shops and nail salons. It's a self-inflicted delusional thinking that the black product is not good enough, they don't want another black to succeed, they're being rip offed, or they're going to have bad customer service

Back breaking work with little pay. These gas stations, stores, and restaurant in low income neighborhoods are not rolling in money. It's hard work for little pay and the constant threat of some delinquent showing up to either steal something, rob you, or act a fool forcing you to call the cops. This is not a job you do when you have many options. Oh and during any riot, you can expect mass looting so your insurance better be up to date.

Anyways, there's plenty of other reasons. At the end of the day there more pressing issues that both Blacks and Hispanics need to deal with first (crime, college degrees, obesity, etc) before we start worrying about gas stations.

Could all the rich black athletes, entertainers, actors, and musicians pool their money together and invest in black neighborhoods? Sure? Will they? Nope. Because they know folks would just tear it up again. So in the black community, everyone is largely on their own and it will be that way for the foreseeable future compared to the tight knit Jewish or Asian communities.
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Old 12-30-2018, 12:59 PM
 
Location: US
17,351 posts, read 16,893,861 times
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As most of my family came from other countries poor and not knowing English, they are all mostly business owners. Accept that the world isn't fair and don't use that as a reason not to try. Value and try hard in school. Don't make waves and you won't get noticed (my uncle used to say this a lot) applies to police. Work hard. Build friendships and connections.
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Old 12-31-2018, 08:29 AM
 
Location: Annandale, VA
9,604 posts, read 7,797,058 times
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Quote:
Originally Posted by davebarnes View Post
1. A willingness to work 24 hours per day.
2. An ability to raise enough capital from friends and family.
3. A willingness to use slave labor and run a mostly cash-based business that supports an illegal underground economy that is ripe with tax evasion.
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Old 12-31-2018, 05:09 PM
 
Location: NYC
127 posts, read 52,538 times
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Hair stores with products geared towards black people is a BIG thing. I'm not sure if anyone else mentioned this. In l spend no more than $5/month on hair products, but I know that lots of black people can easily spend up to hundreds a month on hair care alone, especially if we are talking good quality weaves.
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Old 01-04-2019, 02:22 AM
 
Location: Silicon Valley
3,187 posts, read 1,386,630 times
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Quote:
Originally Posted by aileesic View Post
Yes, there are many black businesses. Still, go into any black community and you will find most Asians and Arabs owning and running the shops. They had to start somewhere. That start has a lot to do with MONEY. Of course, what else?

First off, knowledge of how to run a business. When you see those shops being run by first generation Americans you may see...as some others have posted...someone with basic aims. What that overlooks is why those people have come in the first place. America is not an easy place to get to from overseas. When a family is selecting who is coming over, they leave the lazy and indolent one behind. It's too expensive and too risky. Don't look and see someone that doesn't speak English well. Look harder and you'll see someone that had a string of successful stores back in the old country, but some revolution or political failing has robbed that person of their capital back home. They're rebuilding in America, and lacking the capital to compete in the nicer areas, they start in the poorer areas where the other store owners also lack capital.



Quote:
Originally Posted by aileesic View Post
- Many of our families are either too spread out and disinterested in self-employment. Plus, many of us end up being caretakers for family. Care-taking of children and/or sick family members can take up a whole lifetime.

This isn't a racial issue, this is everyone. Talk to the 2nd generation of these families and most will relate at some point that, despite their parent's success in business, they have no interest in taking over the business. They saw their parents working every day for their entire life. For themselves, having grown up in America and having easier options to simply live, that's good enough for them. For the first generation, there's no job for them. Nobody is going to hire them. There is no safety net. They have to create their own job.



Quote:
Originally Posted by aileesic View Post
- Other people do not really support black businesses. They might do so as a kind gesture but when it comes down to it, they just don't feel the need.

You will see plazas that are dominated by one group or another. Especially if they are selling primarily to that group, but there's no underlying support beyond proximity and ability to reach via language. Even if there is a group think...it doesn't mean success for any given store. I'd argue that's not really a factor.


Quote:
Originally Posted by aileesic View Post
- We tend to be underemployed, not much exposure to the world outside of our own communities (when this does happen, it is more often than not a negative experience), and because of this, have a very difficult time acquiring skills to get ahead in life.

That's really blanket victimization. The mindset of a small business owner is basically that everyone you work with is going to get you. So, you better get a good understanding of what needs to be done and make sure that's being delivered in whatever you do. Family is hired not because they work for cheap, but because they aren't going to litigate. Many are extremely street smart. React quickly, deal with things quickly. Keep pressing forward.



Quote:
Originally Posted by aileesic View Post
- If you do not have some sort of vision, credit stability, family with a good amount of financial worth, and a potential customer base, banks are not going to lend to you.

You need a vision of what will make money and if you can do it. For small business, forget credit, you don't get it. I could make a space shuttle better than elon musk's if I just had capital....forget it, don't waste time. You have enough for a hot plate and you know people like to eat this product and you could sell it at this corner because nobody else is there....ok go. Cut a deal with an existing business to sell out front. Swallow any pride and hock your good.


The phrase fake it till you make it applies, but you need to make sure it doesn't apply for very long. However, if you do something every day, all day....you'll get good at it.



Find 1 thing people like, a place they would like to use it...and do it. You can add more later.



One lady in my wife's family has opened 30 businesses over the years. Brought in by her husband after going through a tough refugee camp for a couple of years. She starts them or buys them, builds them up and sells them. She can't read in English, speaks with an accent but can conduct business in Mandarin, Spanish, Vietnamese and English. She wasn't a cell phone repair/chef/dry cleaner/hairdresser/nail salon pro in the old country. She worked 360 days a year since getting her first one. She just sold her last one. Kids didn't want any of them. One became a doctor and the other a priest. She sold because her Parkinsons is so bad she can't really do much now. #winning???


I would have hated to compete against her in her prime. They weren't all good years...why hustle like that when I can take a job, be almost every Saturday and Sunday, not worry about benefits or even who will do my job for an hour while I get an errand done. It's not a glamorous lifestyle, and it takes a commitment level few of any group can make. That's why it is the way it is.
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Old 01-04-2019, 03:55 AM
 
25,142 posts, read 27,439,316 times
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[quote=creepy;53949571]
Quote:
Originally Posted by mysticaltyger View Post
You probably want to consult this guy's YouTube Channel and maybe reach out to him.

He goes way too far with the white supremacy stuff, IMO,

Disgusting you would rec the watch a white supremacist You Tube guy. Eff that!

They can go to hell with their misguided incorrect theories. Next time stay out of the convo-have some damn decency.
You clearly didn't even watch the video and/or you don't know how to express yourself clearly. Because the guy is black and is certainly NOT a white supremacist, lol.
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Old 01-04-2019, 04:10 AM
 
25,142 posts, read 27,439,316 times
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Quote:
Originally Posted by Rocko20 View Post
When you grow up in a dysfunctional single parent household (72%), you're just trying to survive.
That's what I was trying to say but got smacked down for it. Maybe they'll believe it hearing it from a black person.
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Old 01-09-2019, 04:41 PM
 
1,003 posts, read 247,514 times
Reputation: 2676
Quote:
Originally Posted by kevinm View Post
3. A willingness to use slave labor and run a mostly cash-based business that supports an illegal underground economy that is ripe with tax evasion.
Are you talking about drug dealers?
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