As one of many wealthiest businessmen in the US, Mark Cuban is aware of what it takes to be a profitable entrepreneur. Fortunately, he’s not conserving his enterprise secrets and techniques to himself and is sharing it with the world, particularly Black girls.
Previous to talking at SXSW panel together with Tabitha Brown and Justin Fenchel, Cuban spoke to reporters who requested him what Black girls entrepreneurs ought to do when on the lookout for funding.
He answered, “I’d let you know to not search for funding. You must determine a approach to make use of sweat fairness to construct it by yourself, even when it means beginning smaller and slower, as a result of there’s a studying course of, and it’s twofold. One is studying about your corporation and making it loanworthy. Then two is studying the language of these making the loans.”
Cuban added that speeding to get funding might go dangerous.
“You must take no matter time to get it proper as a result of in the event you go into that financial institution in the event you go someplace to attempt to get a mortgage and also you don’t get it, you continue to should be able to work and go ahead,” he stated.
Whereas it could appear out of left subject that Cuban is giving recommendation to Black girls, it is smart: Three years in the past in a report from Wells Fargo, it was discovered that Black-owned enterprise had been 30% above what they had been previous to the COVID-19 pandemic, and that quantity was being led by Black girls.
In one other report from the Brookings establishment, it was found that Black women-owned companies elevated by 20% between 2017 and 2020.
Analysis from GoDaddy discovered that Black girls are the quickest rising group of entrepreneurs, saying that they make up a complete of 10% of all entrepreneurs, which represents a 70% improve from earlier than the pandemic.