Black Men Don't Build Businesses

Hi all.

have you ever asked yourself  "why do black men not build businesses"
This one question has lingered in my mind longer than I can imagine. It is not enough to come on this forum and discuss how to make money from this and that! It is much more than that. When we make 30% appreciation from some stock investment, what happens next?
I've learnt on this forum that there are so many Nigerians with a lot of mind blowing ideas about making money. That's fine. But how come we don't BUILD businesses out of these ideas.

The primary reason is the black man's attitude toward money. This does not single one person out. It is about ME and YOU "black men" reading this right now.

Take a break right now and ask yourself  "Does this refer to me as well"

You bet it does.

Now what is it that makes the white man different with businesses? It is what shapes the white man's mind about businesses. The inception, the BUILDING process and the sustainance. Sounds confusing? See it this way!
Why does the average black man start a business? The sincere reason is to make money. Nothing bad. and don't start working yourself up now. The white man can start a business because of money as well . That's the inception.

Now the hundred mile difference is in "the BUILDING process" and subsequently "the sustainance".
Ask yourself at this point "what would i do when i make my first million naira" Your sincere answer will define if you can build a business or not; let alone sustain it.

Michael E. Gerber, the author of The E-Myth says his experience has shown that those that do exceptionally well in business do not do so because of what they know but by their insatiable desire to learn more.

Black men don't build businesses

Reason 1  Many of us do not read.

Don't get me wrong here, a good lot of us are fabulous academicians but we find it absolutely unecessary to read about business. I don't argue with people that say that the best way to build a business is by experience. Well, how about reading from people that have been there before. Does it make it a liitle easier? Oh! you think it doesn't. How about trying to get through secondary school with the best grades without ever attending classes? It might be possble but it is a harder process. The chances are that 1 in 10 times, failure looms. When we read about business that have been built, it doesn't just open our eyes to common mistakes,  it helps us understand what business enterpreneurs do to stay afloat for a long, long time.


Warren Buffet is rated the 4th richest man in the world. Estimated worth - 25.6 billion dollars. What's news?
This man continues to live in the same house in central dundee neighborhood in omaha, nebraska that  he bought since 1958. How that's possible? I hear you ask.
Don't be surprised because;
This man's annual salary from his multi-bllion dollar assests is $100,000 

Common stop there! Don't convert this to Naira but compare what he is worth to what he earns. You still think this is large then follow this link. www.boston.com/business/articles/2006/12/12/good_deal_average_goldman_sachs_employee_makes_622000/?p1=MEWell_Pos2

My point is this man's is worth enough to pay himself a million dollars a year but for some reason he doesn't. What's this reason?

Black men don't build businesses

Reason 2  The problem of delayed gratification.

 Do you want to change your shoes, your car, your friend, your husband, your wife, when you make a few thousands of naira from NOSPECTO? If you do, you have a problem of delayed gratification.
Can you sustain a business? Weeeeeeeellllllll   I think NO.

 
Being unable to set goals, is another reason behind this problem that is become rarther generic.
Like i said ealier, an average black man starts a business mainly because of money. You might think what is this joker talking about? who in this world starts a business without thinking about money? It is very sincere to say that. We always have bright ideas, these ideas bring in money. What then happens next?

This is where we fail to set goals.

I'm starting a fish farming business. I want to sell 50,000 fingerlings in 6months. What happens to my business in two years? I want to have 30 outlets of my business in 1year. I want to extend my enterprise into three states by 2008.   Goal setting!!!!!!!

I know it sounds easier to say than do, especially with an environment characterized by economic strife and political instability but it all has to start with a futuristic mentality. 

This same mentality is what started
Bill Gates and Micro-soft,  Ellison Lawrence Joseph and the Oracle corporation, Ray kroc and McDonald's, Fred Deluca and Subway etc. Not just started, but running and still expanding till date.

Take it easy on me now, I know you have a MBA from lagos business school, I am not saying this is all you have to do to run a business. Also there are many failed businesses that set goals when they ruuning;
What I am saying is if more and more of us start to operate like this, there are incresased chances of building world-wide mega corporations and there won't be any fuss about investing in TRANSCORP.

I am trying to establish here the clear difference between technical expertise and a mentality for sustainance of businesses. You think I'm lying, then tell me why so many banks failed the recapitalization process. Is it the mentality toward money?

How many Nigerian wholly owned businesses can boast of 20 years of business existence?

This is a topic for a whole book. It is inexhaustible. My Goal however, is to have an efect on generations to come. The issues I have raised here are the same reasons we've not been able to BUILD a strong black nation.

This is not about anyone in particular,  it's about ME, YOU and YOU and our general attitude to money.
If we check ourselves sincerely, we will come to together and address the problem why Black men don't build businesses.

You think I'm right post a reply and tell me I did a good job. You think I'm wrong post a reply and tell me but tell why. I'm willing to learn.
Stay hooked for more.

@topic
says who?

well i know black women do,  i know because i have

Hi Eurphoria!

You probably just replied based on the context of the title of the post. That title was just to arouse your curiousity to read the cotents. The content really doesn't tell you that black men don't build businesses, it rather discusses WHY MANY of us don't build businesses.

I'm sorry, but with a reply like that, you justify my first reason why black men don't build businesses.

you said i probably?

well i did read the whole thing and my statement remains unchanged, you don't have to be angry , it my opinon.

erm out of sheer curiosity do u own a business?

 Bros you're 500% right.
        I've friends who their aims is to get the money quick rush naija to let the babes know they've arrived, then come back to start from square 1.
            You have apoint here,  preach the Gospel bros.

Unlike Indians, Asians, Hispanics, Europeans and Americans. Blame that on a combination of "bad attitude and lack of discipline"! Not even education, though that is also a factor.

Because black men in general are easily frustrated and cannot maintain a business without squandering both capital and profit for a net loss in less than 2 years of opening any business.  They do not know how to save and are too busy competing amongst themselves to live above their means.  Most have extremely poor credit ratings and are incapable of holding a job due to a "racial" chip stuck in their butt holes to work with anyone without feeling unnecessarily discriminated against.

All you see are some frustrated menyoung and old. . . .slapping around in the sun with a folder under their funky armpits,. . . .attending job interviews from here to thy will be done.  Upon checking their references, most are not hire-able due to anger management issues, lack of respect for themselves and others, poor communication skills and lack of proper educational qualifications and experience in related job fields.  Need I add the fact that most have been fired at least 20 times from previous job opportunites for one thing or the other. . . .including stealing company stationaries!


Yes!  I am generalizing.  Look around you.  Don't let the likes of Barrack Obama fool you.  That is only 0.0000000001% of the total black population world wide.  We will not even discuss those in Africa. . . . .related to the inability to accquire accurate and worthy stats!

i don't know sha but one thing i do know is it is not entirely true.
some black people really do have business head but condition no favour them. but i still agree with u lot