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The UK Black Business Show 14/10/17

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On 14th October 2017, the UK’s very first Black Business Show was held at the prestigious Queen Elizabeth II Centre in Westminster, London. This ground-breaking event brought black professionals, entrepreneurs and learners together to deliver practical advice and inspiration from a variety of industries, spanning from funeral services to media. An organisation which particularly stood out was Inside Out UK, which was founded by a young entrepreneur to merge psychoeducation and creativity to engage, entertain and educate audiences about mental health. However, there were many inspirational businesses who shared gems, some of which have been dropped below:

 

Lorraine Wright –  Director at UBS and founder of University Gospel Choir of the Year Awards

  1. Write your vision and make it plain
  2. When seeking funding, adapt to investors priorities i.e. UGCY secured funding from UBS and Accenture by targeting student market and developing well-rounded and multi-skilled graduates, which these companies require
  3. Your goal should never be starting a company, focus on the change you want to make
  4. Start with one vision and share it with others. There is power in the tongue. Speak it into existence
  5. Align your goals to the vision – 5W’s and H
  6. Know your strengths and weaknesses. Build a team with complementary talents. Build a team that is smarter and stronger than you. Have people who can challenge you, not yes men
  7. Network – your network is power. Figure out how you can help someone before how they can help you
  8. Have patience. It took 3 years for UGCY to host their first event and they just broke even. Walk before you run
  9. Faith without works is dead. Generate income before taking a leap. Work first and money will come later.
  10. Be anxious for nothing. You don’t need to have all answers before stepping out
  11. Claim Demarcate and Control (CDC) aka fake it until you make it, to attract customers

 

Andy Amadi – Filmmaker and creator of online show BK Chat

  1. There are consumers on YouTube – if you have a business and you’re not on YouTube, you’re missing a market
  2. If you have attention from your consumers your business will progress
  3. Be consistent, so people can expect to see you every week/day – it’s a responsibility that you have to uphold
  4. Stay hungry – people in Nigeria want to survive so they perceive that they have no choice but to act now
  5. Businesses need people to work with – people who believe in you and believe your work will benefit them without wanting money
  6. Crowd fund (e.g. Indie Gogo and Go Fund Me) but don’t rely on people, invest in yourself, if you don’t why should others?

 

Damian Melville – Managing Director at Melville and Daughters Funeral Directors

  1. Research is key and it is free
  2. Spend as little as possible then grow gradually – if you don’t have it coming in, you can’t pay it out
  3. If you love your work, the reward comes with it
  4. It is better to sell at a reasonable price for a lot of people than a high price for few people
  5. Be consistent and you will make money

 

Kojo Anim – Comedian, Writer, Producer, Director and Co-Founder of The Colour Network

  1. Your gift will always lead you to your purpose
  2. If you identify a problem, be part of the solution
  3. You can talk about faith but are you practising it? When you’re chosen to do something it won’t make sense until later and you’re always going to want something else, so enjoy the process
  4. The end of the goal is not your business, your business is to be ready for your opportunity, let God work, don’t make the end product your focus
  5. If you’re waiting for people to green light your dreams, green light them yourself. Say “I am” and more people will follow you
  6. Don’t expect support, focus on giving quality
  7. You can’t think about your business internationally if it doesn’t have a name locally – who are you in your house?

 

Dwayne Reid – Founder of Wealth First and Motivational Speaker

  1. Every single day you should be doing something to figure out how to get more customers
  2. Instead of tweaking your site, call someone, don’t hide behind emails
  3. Measure everything – how many customers you get, how many people follow you on social media, how many website hits
  4. Margin – make sure costs are low and profit is high – margin is very important, be careful of low margin to help your people, help yourself first. Start a profitable business first then you can use the profits to give back
  5. Invest in multiple revenue streams
  6. Invest time and money in yourself – learning
  7. Take action – too many people procrastinate while looking for perfect
  8. Deal with the negative times by getting out – watch TV, chill out with friends etc – when you’re too far into the problem you can’t see what the solution is – talking to people can subconsciously solve the problem
  9. Be absolutely sure of the problem you’re trying to solve – make sure it is big enough to be worth solving and ensure it is something you’re passionate about

 

Bianca Miller – Apprentice Star, Entrepreneur and Motivational Speaker

  1. Personal brandingis important – market yourself for future opportunities
  2. Physically write your dreams down
  3. Start with one thing, have a clear differentiator – do it great then branch off later
  4. Make ten points on what the dream is so you can explain it in its entirety
  5. Find a trusted person to analyse and evaluate your dream
  6. Consider your attitude to risk – what’s the worst that could happen? What will you do if it does go wrong?
  7. Pitching – delivery is everything – see every opportunity as your only chance
  8. Network!

 

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