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"...advice on what can we as black people do to step up economically..."
as posted above....
1. have a family willing to work for nothing. "they" do that. B.P. can too.
2. the job or work is the life. no TV. no church. no nothing else. again, they do that.
3. i have seen this too many times: do not extend credit. let the card handle that.
Are you aware of the crabs in the bucket analogy? When one crab starts make it over the side of the bucket to escape, the other crabs grab & pull him back down again.
It may be difficult to experience success in your own neighborhood.
I am 24, black, and live and have lived in majority black neighborhoods. I find it a bit embarrassing to notice that many owners of businesses large or small in majority black neighborhoods are not owned or run by black people. Personally, I know next to nothing of economics, credit, and managing businesses overall.
Finance-wise, how or why did so many non-blacks manage to run nail salons, gas stations, restaurants, supermarkets, etc in black neighborhoods?
My intent is not to offend people but to seek advice on what can we as black people do to step up economically in terms of ownership and credit. I assume you have to have good credit, but what are some specific step-by-step guides in terms of the necessary paperwork such as licensing and permits, or if a degree is necessary, on owning and starting a business like a nail salon, beauty supply store, gas stations, restaurant, etc.
I live in the Miami, Florida area if that matters.
I think you answered your own question, in what I outlined in red. The people you mention DO have knowledge of how to start and run a business, and they make owning one their main goal in life.
At one time I worked for a very successful Italian business owner. One day at lunch, the subject of Jewish business people came up, and I said " I wonder why so many Jews are so successful and own their own businesses ?" He said "How close are you to your people (your family)?" I said, "Not very."
He went on to explain that Jews will do whatever it takes to succeed. They will move in together, save money together, and help each other to get ahead in the business world. They have a bond with other Jews, and they understand that , but standing together, they have a better chance of making it.
If I had to venture any guess as to why more black people do not own their own businesses, I would say it boils down to them not having a support system to make them want to own a business, nor do they have the business training and education to make it a success, if they did own one.
Until blacks start really bonding with one another, as the Jews in the example I mentioned, it probably will never happen. Also, black children need to be given the education, mindset, and tools to let them do better in life.
The fact that you are asking shows that you want to break out of that box, and that is a good start.
One thing I have always marveled at is first generation immigrants coming to this country with just the clothes on their back are somehow able to create and run businesses. Yet many US citizens, who have long family ties to the country or area, are lazy and lack any sort of work ethic.
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It's because they pool their efforts and money.
Immigrant communities have always done that. The goal is to build a business together, supporting each other.
It's the pooled resources with the goal of future economic prosperity in the immigrant communities that makes them so successful.
Interesting, after the Katrina disaster and when the residents of the 5th ward were scattered to the winds, there was some dismay on the part of young single mothers, who said back in her community in New Orleans the older neighbors would help her out by bringing by food or diapers or giving her a little money when it was tight - so there was a pooling of resources. It just wasn't for the goal of economic success - the goal was to help out neighbors who were really struggling, to keep them from going completely under.
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Quote:
Originally Posted by pipsters
One thing I have always marveled at is first generation immigrants coming to this country with just the clothes on their back are somehow able to create and run businesses. Yet many US citizens, who have long family ties to the country or area, are lazy and lack any sort of work ethic.
Amazing, isn't it?
No. It's not amazing - it's obvious on the face of it. Immigrants are incredible people.
People who are really so motivated that they will leave behind everything they hold dear, and come with nothing for the purpose of bettering their lives are the rockstars of the workforce.
It's not surprising at all that they succeed. Look at their basic personality.
One thing I have always marveled at is first generation immigrants coming to this country with just the clothes on their back are somehow able to create and run businesses. Yet many US citizens, who have long family ties to the country or area, are lazy and lack any sort of work ethic.
Amazing, isn't it?
It is absolute true. The Italian businessman I mentioned earlier came to America, couldn't speak the language, and he started out by selling draperies door to door. That ended up with him owning several drapery manufacturing companies, with probably 1200 employees. I was his Credit Manager, the only non Italian in the company, and I was awestruck by how hard he, and everyone else there worked. Not a slacker in the lot, and if one of them did something wrong, the rest would take them to task for it. They were very tight knit.
Even when he was at his peak of success, he still spoke broken English, but that didn't stop him from making it. He knew how to make money, and that propelled him ahead.
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