Business 101 and Black Business 101 are two completly different subjects. A co-worker of mine told me that he learned that the hard way. He and some associates decided to do the party thing. The whole promotion/ party business is tricky, but it can be difficult, if you don't deal with black business too frequently. I was reminding my homeboy the other day that the key to succeeding in black business is to stick with the known, and not to stray off the beaten path until you are established. Yeah you might get lucky, but then again, you might lose everything you have. And when you got kids and a family, that's a big risk to take.
So here are a few hints to succeeding in Black Business 101:
1) Price, Price, Price- Black people love a deal... 2 for 1's are always good and also giveaways are good... you know you'll get this hat when you buy these sneakers, stuff like that...
2) Name Brand, Name Brand, Name Brand- If you are going to sell retail, you gotta sell name brand. Even junkies have on name brand clothes. And if you're having a party, make sure name brand folks are going to be there. (Popular DJ's, or radio personalites)
3) Location, Location, Location- Always try to have your store or event in a well known location. Some place where folks won't get lost in trying to find. Also, make sure that place is convenient to folks who may not have a car...
4) Seperation...- Nah, I'm not talking about seperating your business, I mean seperating things that you buy in packs and selling them loose...I.E.- Cigarettes, Blunts, etc....
5) All at once- If you have a corner store, sell every damn thing....Liquor, food, pads, hair products, a lot of people that shop at corner stores don't have cars. Take advantage of the convenience of your location.
6) Promotion- The best form of promotion is word of mouth. Make sure your event or store is the talk of the town. Saturate the market and pass out flyers every place you know folks are going to be that want to spend money.
7) Last but not least, play let's make a deal. If you party ain't jumping, come down off the price, if you shoes aren't selling, let somebody talk you down.
So here are a few hints to succeeding in Black Business 101:
1) Price, Price, Price- Black people love a deal... 2 for 1's are always good and also giveaways are good... you know you'll get this hat when you buy these sneakers, stuff like that...
2) Name Brand, Name Brand, Name Brand- If you are going to sell retail, you gotta sell name brand. Even junkies have on name brand clothes. And if you're having a party, make sure name brand folks are going to be there. (Popular DJ's, or radio personalites)
3) Location, Location, Location- Always try to have your store or event in a well known location. Some place where folks won't get lost in trying to find. Also, make sure that place is convenient to folks who may not have a car...
4) Seperation...- Nah, I'm not talking about seperating your business, I mean seperating things that you buy in packs and selling them loose...I.E.- Cigarettes, Blunts, etc....
5) All at once- If you have a corner store, sell every damn thing....Liquor, food, pads, hair products, a lot of people that shop at corner stores don't have cars. Take advantage of the convenience of your location.
6) Promotion- The best form of promotion is word of mouth. Make sure your event or store is the talk of the town. Saturate the market and pass out flyers every place you know folks are going to be that want to spend money.
7) Last but not least, play let's make a deal. If you party ain't jumping, come down off the price, if you shoes aren't selling, let somebody talk you down.
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