3 Pieces of Advice For New Entrepreneurs

I asked three black female entrepreneurs what advice they wish they’d gotten when they were starting out. This allowed me to get some much-needed advice, but it also gave me the chance to share these entrepreneurial advice with you.

Sometimes the things we need to know come from people who have been where we are, or where we’ve been. Let’s jump right in.

Financial Advice

Money management. As an entrepreneur, you don’t hear a lot about the success journey after someone has made it. However, no one talks openly and honestly about spending money they don’t have to earn money. Having more than just a savings account is important to understanding the entrepreneur journey. For me, having difficult and uncomfortable conversations about where to invest and how to prepare for the peaks could have saved me energy and time.

M.C. Walker
www.themcwalker.com

Are you financially secure in your business? I’m still fairly new to the business world, and if a major expense came up, I would be in quite a conundrum. It’s important to know where your money is, where it’s going, and why it’s going there. Are you making the proper investments?

Branding

You do not need to be all things for all people at all times. Find what you’re good at, what you actually want to do, and who you want to do it for and put your time, energy, and resources there. You might find yourself pivoting as you continue your journey, but the goal is to enjoy the process, not dread every minute you’re in it because you’re feeling drained and pulled in multiple (sometimes competing) directions.

Diana Morris
www.dianaramorris.com

Do you have a niche? A nicheless entrepreneur is set up to fail. Put your time and attention into not only the things that you’re good at, but the things that you like doing. It allows you to be a better business person, not only for you but for your clients as well.

The sooner you realize everything is on you, the sooner you can truly become successful. Don’t make excuses! 

Kay Hillman
Shesacreative.com

Excuses are tools of incompetence. You didn’t complete a task? It’s on you. You missed a deadline. It’s on you. You are only accountable to yourself as a business owner. What will you do about it?

Call to Action

If I had to answer the question: What piece of advice would you give to an up-and-coming entrepreneur? I would give this entrepreneurial advice:

Your ideal client will pay your prices. Don’t short change yourself. You’re worth your expertise.

Nikki Bass
CorporateMelaninMillennial.com

Don’t forget to check Nikki out on her blog, and come back next week for more entrepreneurship tips.

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