The Startup - No Roadmap, No Experience
A dollar and a dream is how the ventures began.
Entrepreneurship is a lifestyle that requires full-time focus, consistency, and drive to remain afloat. In 2020, society pose many challenges for business startups compared the older generations. Specifically in the Villages within Proviso Township and other economically depress Chicago-land communities, it is rare to see young professionals excel past the startup phase of their business plans. Truth be told, most of us never seen nor were taught the fundamental concepts of a business plan. There are many factors that contribute to this dilemma.
Lack of Local Mentors
Most African American social engineering stem from the migration of blacks from the southern states settling in Chicago for a better quality of life and financial opportunities. These were the main (and sometimes only) goals of our grandparents; security and stability. It is evident that the urban Chicago housing projects were an epic failure due to overpopulated unfavorable conditions of people living in close proximity. The lack of mentors stem from a generational disconnect due to permanent damage cause from American slavery and other systematic circumstances.
The current issues entrepreneurs face today are cruel, unfair, and unusual. . The fundamental education of cash-flow and sourcing capital is almost null and void. Our parents and family support is rare as their experiences were fairly easier to balance life responsibilities. Therefore, they expect unrealistic results from their children without providing inherited resources needed to be an entrepreneur. Many of us have been conditioned to go to school and enter the unskilled labor workforce with no pipeline.
An angel investor is someone who recognize the unfair disadvantages of certain underrepresented communities, and help with providing high risk startup capital to allow an entrepreneur to excel past the "idea" phase. Angel investors typically have extensive business experience and expertise to ensure their chosen businesses are successful. As of today, I have yet come across local investors nor realistic resources from those who understand the local culture and it's demographic change over time. I encourage established businesses in the area to extend a hand, whether it is financially or through mentorship for young professionals. In business, we all wear our trademarks proudly, but under the hood of the brand, there must be proper and structured maintenance in order to finish the marathon.
If anyone would like to reach out to extend proper resources and/or expert advice, we are more that willing to accept all motivating avenues towards progression and success!