Dante Lee - Black Business Secrets: 500 Tips, Strategies, and Resources for the African American Entrepreneur

Praise for Dante Lee

Dante Lee didnt wait for an opportunity to be presented... he created one himself and made history in the process.

Margena A. Christian, Editor, Ebony

Dante Lee is a perfect example of someone who has translated perseverance and determination into success. He has worked tremendously hard to create a business with multiple revenue streams to reach critical niche markets in this country.

Neil Foote, Director, Media Relations, Tom Joyner Foundation

Dante possesses an entrepreneurial spirit that only a few can aspire to reach. His self-directed energy has inspired me and countless others who have come in contact with him as we seek to connect with the world. Im honored to endorse him and his work...

Edward Foxworth III, Owner, Foxworth Marketing Group

Dante does not just speak... he walks his talks! His insights... will help you maximize any business opportunity.

Andrew Morrison, founder and president of The Small Business Camp

Dante is a brilliant young CEO that I would highly recommend in business and personally. His efforts in building BlackNews.com and BlackPR.com have been quite admirable... I expect Dante to continue to raise the bar when it comes to running a business and serving the needs of the multicultural market. Did I mention BlackHistory.com!?

William Moss, president & CEO, LeeMoss Media

Black
Business
Secrets

BLACK
BUSINESS
SECRETS

500 Tips, Strategies, and Resources for the African American Entrepreneur

Dante Lee

DISTRIBUTED BY HAY HOUSE, INC.
Carlsbad, California New York City
London Sydney New Delhi

Copyright 2010 by Dante Lee

Published in the United States by: SmileyBooks, 250 Park Avenue South, Suite 201, New York, NY 10003 www.smileybooks.com

Distributed in the United States by: Hay House, Inc.: www.hayhouse.com Published in Australia by: Hay House Australia Pty. Ltd.: www.hayhouse.com.au Published in the United Kingdom by: Hay House UK, Ltd.: www.hayhouse.co.uk Published and Distributed in India by: Hay House Publishers India: www.hayhouse.co.in

Interior photo: Dante Lee

All rights reserved. No part of this book may be reproduced by any mechanical, photographic, or electronic process, or in the form of a phonographic recording; nor may it be stored in a retrieval system, transmitted, or otherwise be copied for public or private useother than for fair use as brief quotations embodied in articles and reviewswithout prior written permission of the publisher.

The opinions set forth herein are those of the author, and do not necessarily express the views of the publisher or Hay House, Inc., or any of its affiliates.

Library of Congress Control Number: 2010933583

Hardcover ISBN: 978-1-4019- 2954-1

Digital ISBN: 978-1-4019-2955-8

Black Business Secrets is dedicated to transforming the devastating statistics that African Americans are much more likely to fail in business than their white, Asian, or Hispanic counterparts due to lack of fundamental business education, insufficient economic development, and resources.

Any entrepreneur of any race can benefit from this book, but this content has been specifically designed to challenge and inspire African Americans because our need is greater and our potential is now limitless.

CONTENTS

African Americans have always been successful in entrepre-neurshipwhether or not weve profited from it, and whether or not weve realized it.

Think about it. Entrepreneurship is about combining your passion and talents to create value in the world. African Americans have been doing this for centuries in business, government, nonprofits, schools, churches, and communities across the globe.

There are countless examples, from Garrett Morgan who invented the traffic signal, to George Washington Carver who invented peanut butter, to Nathaniel Alexander who invented the folding chair. And, of course, theres Madame C.J. Walker who developed and marketed the most successful line of beauty and hair care products of her time. She went on to become the first female millionaire of any color.

More recently, theres Bob Johnson, the mastermind behind BET; Cathy Hughes, who created Radio One and TV One; Oprah Winfrey, founder of Harpo Productions; Lisa Price, founder of Carols Daughter; David Steward, chairman of World Wide Technology; Magic Johnson, who started Magic Johnson Enterprises; and the list goes on. All of their companies, by the way, are multimillion or multibillion-dollar enterprises.

Furthermore, there are hundreds of thousands of barbershops, hair/nail salons, doctors offices, law firms, consulting firms, advertising agencies, publishing companies, auto dealerships, cleaning companies, etc., owned and operated by African Americans.

Because our ancestors were successful in business, it is justifiable to say that its in our DNA to also be successful in business.

African Americans have long demonstrated that we are fully capable of creating our own success like anyone else. As a result, nowadays, more blacks than ever before can call themselves successful and profitable business owners.

Despite this fact, the numbers are still very disturbing. Recent data from the Census Bureau suggests that African American business owners are still more likely to fail than their white counterparts. How can this be, if entrepreneurship is in our DNA?

I would argue that DNAthe genetic code we are born with can be figuratively altered over time by our behavior. Consider that a persons hair color is also in the DNAbut using dyes and chemicals, hair can easily be changed to any color. Even the shape of a persons nose can be altered through plastic surgery.

Likewise, many African Americans have consciously or unconsciously altered their DNA through a sometimes simple, and at other times complex, cocktail of inner and outer influences. Instead of capitalizing on their genetic code of confidence, assertiveness, and determination to become successful entrepreneurs, some allow factors such as racism, discrimination, and other forms of unfair treatment to interfere with their natural business acumen and weigh them down mentally and emotionally. As a result, they give up and settle for less. However, its been proven time and again that even in the face of racism and discrimination, anyone, including African Americans, can be successful in business.

Some alter their DNA by opting to follow the traditional path of working for someone else, being unwilling to take a leap of faith to launch a new venture. Others simply never envision themselves owning a business despite their genetic code for incredible business ability. This was once the case for me. Fortunately, it was in learning the example of other African American business owners that I aspired to become an entrepreneur. Thanks to them, I overcame my challenges so that today I proudly serve as the co-founder, chairman, and CEO of BCT Partners, a multimillion-dollar management consulting and information technology services firm. In other words, entrepreneurship IS in our DNA, and as speaker and author George Fraser says, Success runs in our race.

My friend and colleague, Dante Lee, has written a wonderful book for you to truly overcome your challenges, become successful in business, and embrace the entrepreneurial DNA that lies within you. This book is for aspiring entrepreneurs who are looking to get started, and for existing entrepreneurs who are looking for guidance and insight regarding the next steps to take.