How To Become Your Own Boss
Black Enterprise Magazine January-March 2019 Issue

Page: 1 2 3 4

As a result of my experience working with thousands of small business owners to start and grow their businesses and talking to many successful entrepreneurs and small business experts, I have evolved seven essential principles of small business success. These elements are highlighted in detail throughout this book.

THE ENTREPRENEURIAL MINDSET

Why does one small business owner flourish while another one fails? Because successful entrepreneurs develop the right mindset. How you perceive your business and your life defines your reality.

  • Business owners with an entrepreneurial mindset seek  to stand out in the crowd.
  • Successful small business owners keep a positive attitude.
  • Entrepreneurs are willing to fail in order to eventually  win. They understand that not every idea is a good one.
  • Real entrepreneurs learn from failure and move on to the next big idea.

Each day we make hundreds of choices–from what to have for breakfast to what we’re going to accomplish that day. The choices we make cause the results we experience. Your answers to the questions you ask yourself will determine the outcome of the day. To be a successful entrepreneur, you need not only to get the right answers; you need to make sure you’re asking the right questions.

You must not be afraid of failure. There will be occasions when you are doing your best, but feel frustrated by a lack of progress in your business. Every entrepreneur goes through these difficult periods. I certainly have been there. Times like these are when you need to focus on the positive and maintain your optimism.

The key is to avoid negative thinking. To change the outcome of each day, you must change the questions you ask yourself. Try rephrasing your questions in a positive fashion. Rather than ask, what can I do to avoid being late? ask, how can I make sure I am on time? Make sure your questions are not keeping you from reaching your goals. More than 50 percent of business problems are well-disguised personal problems.

Losing the fear of failure and making mistakes (provided, of course, that you learn from them) comes in part from a willingness to delegate. Beware of what I call “the cult of personality” business. Any company that kowtows to the owner’s ego will ultimately fail.

I made this mistake in my first business. Everyone who called the office had to speak to me. My staff was scared to make a decision until they checked with me. My excessive control was keeping my business from growing.

(Continued on Page 3)

Page: 1 2 3 4

Join the Conversation

Alfred Edmond, Jr.

Alfred Edmond Jr. is SVP/Editor-at-large of BLACK ENTERPRISE. He is a content leader, brand representative and expert resource for all media platforms under the BLACK ENTERPRISE brand, including the web site, social media and live networking events. From 2008 through 2010, Edmond was SVP/Editor-in-chief of BlackEnterprise.com, helping to lead the transition of BLACK ENTERPRISE from single-magazine publisher to digital-first multimedia company. From 1995 through 2008, Edmond was chief editor of BLACK ENTERPRISE magazine. He has also hosted The Urban Business Roundtable on WVON-AM in Chicago and Money Matters, a syndicated radio feature of American Urban Radio Networks. Edmond is also an entrepreneur, speaker, author and amateur natural bodybuilding competitor.


MORE ON BlackEnterprise.com