Black entrepreneurs: How the wrong mindset prevents you from being successful in your business?

 As a new African-American entrepreneur who wants to open your first business, there are a series of challenges that you must face if you want to be successful in your first business. Lack of experience, lack of financing, a good business idea, geographical location, ignorance of the market, bad credit, fear of leaving a stable job, are many reasons that prevent you from making the decision to start your own business.

I have the belief that for many decades, one of the great problems that you face as an Afro-American to produce wealth by starting your own business, your greatest challenge is to understand how the mindset that you have about business is the real reasons that prevent you start your own business. As a way to begin to diminish this disparity in the ability to produce wealth that exists between Afro-Americans and whites in the United States, changing the mindset should be the first step.

When you analyze the impact of a question such as, why do whites produce more wealth than African Americans? Usually many people will automatically associate the answer to two variables to consider; where the first is always associated with a historical past of slavers in which blacks were property, which prevented them from producing wealth, much less accumulating the fruit of their work and let alone transferring that wealth to new generations.

The second variable to consider is that, white people who were slave owners, black slaves who were used as production tools whose work was mostly free, when we talk about transferring "capital" money from employers to employees. Slave owners who also owned the means of production, but also the commodity produced, unlike black slaves who did not have the ability to produce wealth, much less the ability to accumulate it. But, they were not able to produce the transfer of wealth to the new generations.

In the past, black slaves did not have the ability to produce wealth, much less pass that wealth on to their children, but right now, what prevents African Americans from producing wealth? It is the topic that we will try to analyze trying to find answers to this question.

This is where the change of mindset is an element to understand, to create in the minds of the new generations the possibilities that they have in front of them if they understand how a mindset of the past is limiting the decisions that young African Americans must make in the present, to create the conditions of producing wealth in the United States.

When you look at the huge disparity in wealth possession and let's not talk about the inequality in annual earnings among African Americans compared to the white population, these figures are numbers that can be considered alarming. Numbers which create in you the idea that whites are more likely to produce wealth than blacks. But, this is trend in the accumulation of wealth which can change.

I believe that this change is in the hands of African Americans, if they really want to stop this economic trend. It all starts with a change in mindset in the way Afro-Americans view themselves in a market economy. Changing old mental habits is difficult, but everything is possible if you identify which are those bad mental habits that are stopping your economic growth.

As an African American, as a way to change your mindset, there are a number of questions that you must answer. A) Do you consider yourself a leader or a follower?. B) Do you have a buyer or seller mentality?. C) Do you have an employee or business owner mindset?. D) Do you consider yourself a winner or a loser?.

As a last question, are you afraid of failure or success? The answer to each of these questions will give you an idea, if you have a mentality of poor people conditioned not to produce wealth or a mentality of rich people conditioned to produce money.

Something that you have to understand when talking about how to produce wealth, If being successful and making money in business is easy, everyone would be doing it. In order to produce wealth there are a series of steps that you must know as a way to be successful whatever the business you want to establish. 

The answers you gave in the previous questions will give you an idea of your emotional health, personality type, good or bad mental habits, and the good or bad attitudes that can limit the decisions you must make if you want to earn money as a new entrepreneur. 

What are the reasons for not starting a business? 

Regardless of your racial group, something you must understand starting a new business is not an easy task. What are the fears that have you paralyzing your decision? Unfounded fears or fear of failure, lack of experience, you do not have the support of your friends or family, you do not like to deal with people, you do not have money, you do not have the right idea, you have bad credit, you do not have experience in business, fear of doing something new are some of the reasons why you don't start your own business? These reasons are based on reality or old mental habits  are controlling your decision..

As African Americans, if you want to accumulate wealth, having your own business is the best strategy to use to achieve this economic goal. You can use all the excuses for not starting your own business or being an entrepreneur, but those excuses are what is stopping your progress, not who your business idea is aimed at. I have the belief that a business is not built with an excuse, it is built with action.

The best way to overcome a fear is to face it and starting a business paralyzes you, just start that business. If you are inexperienced, there are thousands of courses on the internet that teach you how to run a small business. If your fears are not real or imagined, consult a professional behaviorist and you will find the answers.

If you think that your ideas will be a failure, look for a market analyst and they will know how good your business idea is. If you don't have the money to start your business, start small to see if your idea is profitable. As an African American, don't use your skin color as an excuse to start a business, but  neither to look for an economic partner in a business idea in which you really believe. Believe me, if your business ideas are good and produce profits for white investors, the least they care about is your skin color.

As an African American you have to break with that loser mentality that is part of the black community. How to break with the mentality of losers that some  African Americans have? Understanding the origin of this defeatist mentality in a slavery past may help you, but right now you are a free man or woman who makes your own decisions. 

You may have grown up with the mentality of not trusting what white people say or do or the system is against people like you. On that side, Don't be afraid to learn something new, even from people you consider your enemy.

 Right now, if you want to break the cycle of poverty, something you must understand is that you must leave behind those old attitudes associated with racial inequality in America and not be afraid to learn new economic strategies that benefit you, as a person. .

Learning how to accumulate and produce wealth should be your goal right now, not spending all your time looking for solutions to old problems that have kept blacks in poverty for centuries. As African Americans  something that you should always have in your mind if you want to have exist, Don't worry about things you don't control.

As an African American business owner, what can you learn from Foreigners in the US?

If for historical reasons you can break with the feeling of mistrust that white people represent to you as black, something that is important when talking about  the United States is that you can learn from foreigners in the way they establish their businesses. Foreigners who many times do not speak the language and those who speak it do not understand it. What is the difference between these foreigners and African Americans? It is that these foreigners have a business mindset.

As African Americans, you can observe that in many black neighborhoods in large cities, on one corner you have a small supermarket run by Dominicans or Boricuas, on another corner you have a Jewish store that sells household items, in Another corner you have an Indian store that sells liquor or lottery tickets, Italians  who have restaurants, Koreans selling wigs and extensions to black women and let's not talk about the Chinese selling fast food. As you see, you have a lot of  business opportunity, everything is a matter of visualizing that business idea and implementing it.

Right now, as a product of the enormous power that online businesses represent, no one doubts that this has increased the possibilities of owning your own business, but also greater possibilities of selling a business idea that you as an entrepreneur see many possibilities. 

As African Americans, that will also open up new opportunities and possibilities to create the type of business that you envision, taking into account your budget, your talent, the type of product or service  that you sell to consumers, but also your experience as an entrepreneur starting a business. new business.

With the popularity of online stores right now, something you should understand is that, Accept the things that you are not good at, and take advantage of what you are good at. One of the best strategies to be successful in a business is not what you know, but the knowledge and experience of the people around you. 

Success comes not from the smartest entrepreneur, but how this entrepreneur uses the intelligence of others. An attitude that you must have as an African  American, Whatever you do, try to be better than everyone else, does not matter the type of work you do or the type of business you run.

If you are an African American Entrepreneur, Which Mindset Should You Avoid If You Want To Be Successful In Your Business? It is a question that many ask, but 

few know the answer to this question. Many times, some people have problems leaving behind those old mental habits, which limit their growth as an entrepreneur, but the problem is not in the bad habits, but in identifying what these bad habits are.

When you always do the same and you have the same results, it is time to analyze the strategy you are using if you want to change the results. change the mindset that the success of others, is an example of the failure of what you do and want is a simple way to understand the problem. You can learn from your failures, but also from the successes of others including those who are your competitors. As a business owner, never let your personal ego interfere with the way you run  your business.

As an African American entrepreneur, one of the characteristics that define the success of your business is based on three elements: Sense of direction,  strategies to use, and goals. You should have a feeling for where your business is heading, what your short and long-term goals are, but also what are the strategies to follow to achieve those goals that you have as a business owner. 

These business goals will be supported by the meaning of the word success for you. The moment you have a definition of what is success for you? Each of your personal effort, mental energy, creativity, persistence, and business strategy will be in focus, in which persistence will be the engine that will lead you to achieve your goal, starting from that idea of ​​success that is part of your life as an entrepreneur or business owner.