After highlighting some of our favorite wise words from women entrepreneurs, BlackEnterprise.com drops a few gems from seven male entrepreneurs. Each of these businessmen have built successful brands and paid it forward by sharing their ups, downs and lessons learned on the journey. Note the tips from these men entrepreneurs, and meet us at the Entrepreneurs Summit in Atlanta, May 13-16, for more.
[Related: Turning Passion into Enterprise: How a Graphic Designer Grew His T-shirt Brand]
On staying current and hands on: “I think it’s important to be passionate about your pursuits, educate yourself on your industry, your competition, and even potential downfalls. It’s also important to keep your eye out for the newest trends, technology, and information. A business owner should always surrounded him/herself with trustworthy, knowledgeable people, and not get too comfortable with anyone; keep an eye on your business and remain hands on.”
On college and success: “Entrepreneurship is something you have to focus on. And if you have an interest in it, one pathway is to go to college. I think it’s a much safer route to go
to college because it will give you an intellectual and educational foundation to be successful in business. At least to understand the business concept. On the other hand, you don’t have to go to college to be successful.”On staying focused: “You must learn how to compartmentalize and stay focused. Distractions and insecurities will definitely come your way. If you learn how to keep things in perspective and remember your goals, you won’t be lured in the wrong direction.”
On failure: “You have to understand that what you may perceive to be a failure may very well be an opportunity to learn, grow, get better, and prepare for the next level. If you find the lessons in what you perceive to be failures, then you won’t ever fail at anything.”
On creating product: “I create my products for real people. If I see ten guys wearing something, it inspires an idea for Duke & Winston.”
On mistakes and testing the marketplace: “Early on, I spent six years pursuing what I thought was a business opportunity before I landed on the things that propelled me. But I was going about it the wrong way in that I wasn’t getting evidence from the market place. I knew what I wanted to do, and it sounds simple, but I didn’t put what I wanted to do in the context of what customers wanted. You’d be surprised the extent to which I see that today. We tend to get an idea in our head and don’t want to share it to not diffuse any fantasies we have about it. But it’s important to go out and get information from people and test it in the market place.”
The Black Enterprise Entrepreneurs Summit hosted by Nationwide is set for May 13—16, 2015 at the Hyatt Regency Atlanta. Expect innovative sessions, high-powered speakers, and an early peek at the products, trends, and services you’ll need to stay ahead of the curve. To register and find out more, visit www.blackenterprise.com/es/. Join us at the Entrepreneurs Summit, Where Innovation and Capital Meet.