There’s no shortage of obstacles that Black women can encounter on their path to entrepreneurial excellence.

An absence of capital, support services and sometimes our own mindsets can often halt even the most effective business idea before it might be realized. Fearless Fund CEO and co-founder Arian Simone and Glo Antanmo, content creator and founding father of The Social Educators, joined media personality and designer Nina Parker during a panel presented by Mastercard on the Wealth & Power stage on the 2022 ESSENCE Festival of Culture to share some suggestions for any aspiring entrepreneur to have in mind.

Scroll below for those suggestions after which watch the video above to her the conversation in full. For more of every little thing you missed on the 2022 ESSENCE Festival of Culture, visit our official video content hub HERE.

01

Keep It Moving

Each Simone and Antanmo agreed that clarity comes with motion. “Plenty of times, we stay stuck attempting to wait for a solution to land in our lap, but even should you take the mistaken step, you’re moving and also you learn out of your mistakes,” Antanmo shared

02

F.O.C.U.S. (Follow One Course Until Success)

As a substitute of attempting to use every self-help or business expert’s tricks to your plan, narrow it down and follow that one model in your path to success. “I believe we attempt to try too many things at the identical time and we get frustrated by it not figuring out,” said Antanmo. “We follow 10 different coaches, 10 different marketing gurus and we’re attempting to hodgepodge all of their formulas and blue prints. Follow the one one who shouldn’t be only successful, but they reside the approach to life that you just desire.”

03

Shift How You View Setbacks

After launching her first business while still a student at Florida A&M University, Simone felt like a failure when things didn’t go in response to plans. Nevertheless, as time has passed, she realized that failing wasn’t the issue in any respect. “I wasn’t failing; I just wasn’t patient. So that you don’t know the time by which things are going to manifest in a really big way for you, but you might have to be patient through the method and you might have to trust the method.”

04

Search For Grants That Goal Women Of Color As a substitute Of High-Interest Rate Loans

With over 80% of investors being white males, it’s no surprise t hat Black women account for less than .0006% of enterprise capital funds within the tech space.That paltry statistic is what led Simone to found the primary enterprise capital fund created for ladies of color by women of color. It’s also what led Fearless Fund to partner wit h MasterCard to launch the Fearless Strivers Grant, created specifically with Black women small-business owners in mind. “Straight away in the worldwide macro economic climate of high rates of interest and every little thing else occurring, these grants are needed. Micro loans are very aggressive and predatory, so you would like grants on this space to maintain your small business going.”