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Getting into the tech business is becoming more appealing with every success story we come across. Technology is the future and it will only continue to be that way as it evolves. Common folk with an idea and a dream are taking their unique tech startup ideas and turning them into a profitable business . It can truly happen for anyone willing to put in the work and pursue it with the right amount of determination. However, it is first essential to have a promising idea. Tech startups can operate across various industries, from healthcare and finance to education and entertainment, aiming to disrupt traditional models, improve efficiency, or create entirely new experiences for consumers or businesses. These startups often seek to address a specific problem or need in the market using technology as a fundamental component of their solution. Good tech startup ideas do not need to be something a person is highly knowledgeable about or skilled in; the idea just needs to be original and...
Jan 26, 2024
Those seeking funding for their small business have the debt-free option of applying for startup business grants or small business grants. These grants are typically awarded by government entities, private organizations or corporations and, unlike loans , are not expected to be paid back. There are incentives for these companies and organizations to award these grants, as the new businesses could create economic growth or support a certain cause/research topic (like social or environmental) that one of these entities is interested in. These grants are highly competitive and have very specific requirements that must be met before they are awarded. Most likely, applicants will need to prepare by verifying the eligibility criteria, funding amount, application deadlines and any restrictions of a grant that their business aligns with. Also, ensuring the applicant’s business is specific enough to the grant’s requirements is very important . Doing so ensures the applicant has a better...
Jan 19, 2024
Even if you’re not a salesperson, the day may come when you need to convince someone — anyone — that they should take a chance on you. This could be a job interview , when you’re jockeying for a promotion, decide to start your own business and are trying to make sales or secure clients, or if you need to lobby for funding . Whatever the goal, you need to give your target audience a persuasive reason why they should give you the job or promotion, shop with you over a competitor, or fund your business instead of another startup. To do this, you need to sell yourself. This can include creating a thorough presentation that outlines the benefits of someone aligning themselves with you. But you need a good elevator pitch to draw them in before you get to that step. What Is An Elevator Pitch? Once upon a time, people literally did chase after executives, corner them in an elevator, and essentially pitch themselves as a viable option. Whether this was to get a job or secure a business deal,...
Jan 11, 2024
While Black men who are millionaires are becoming more common in this day and age, there’s still a noted disparity between them and millionaires of other races. According to the Financial Samurai, there are some pretty mind-boggling statistics to consider when it comes to millionaires. For example: If you are a Black man with only a high school diploma, your chances of becoming a millionaire are only one percent. But having more education doesn’t improve your chances exponentially, because if you’re a Black man with a master’s degree, you only have a six percent chance of becoming a millionaire (A white man with a master’s degree, however, has a 38 percent chance of becoming a millionaire). These statistics alone indicate that millionaire Black men have to go through more to achieve the same thing as their non-Black counterparts. These six millionaire Black men had some invaluable advice to impart — so if you’re looking to join that rarefied strata, read on.
Apr 27, 2022
A year ago today (Mar. 31), Crenshaw-bred rapper Nipsey Hussle, born Ermias Asghedom, was gunned down in the parking lot of his Marathon Clothing retail store. The Los Angeles shopping plaza, owned by Hussle, was not only a symbol for the Grammy award-nominated emcee’s rise, but it was also an emblem of his love for his neighborhood and motivation toward increased economic growth in the Black community. By age 33, the prolific artist and businessman made historic and unprecedented strides toward success. In 2013, the All Money In record label founder launched the Proud 2 Pay campaign to promote his $100 mixtape, “Crenshaw.” In 2017, he collaborated with tech innovator Iddris Sandu to establish The Marathon Clothing flagship as an app-driven “smart store” to offer his fans exclusive content and products. By February 2018, Hussle co-founded Vector90 , a co-working space and STEM education incubator to promote intellectual discovery and diversity in tech. In addition, Nipsey Hussle...
Mar 31, 2020
Roughly one in four businesses are unable to receive the funding they need. According to the SBA, business loans and credit cards account for about three-fourths of financing for startups. However, these methods of funding can be difficult to acquire due to business age, revenue criteria, or credit considerations. Some businesses can benefit more by securing funding from an investor. Here’s how. 1. CREATE A PLAN It’s very important to have a plan before presenting your proposal to investors. If you don’t, they won’t take you seriously. So make sure you have a growth plan in place, which will show investors that you have a long-term, detailed plan for development. Also, you’ll need a budget to acquire your first customers. Calculate your reliable revenue and expenses for the year. Investors want to have confidence that you know what you’re going and that you have clear goals about the direction you want your company to go. 2. NETWORK Finding the right investor for your startup is...
Nov 13, 2019