Leadership Advice from 5 Black-Owned Business Leaders
Welcome to Breaking the Blueprint — a new blog series that dives into the unique business challenges and opportunities of Black business owners and entrepreneurs. Learn how they’ve grown or scaled their businesses, explored entrepreneurial ventures within their companies, or created side hustles, and how their stories can inspire and inform your own success.
Leadership is comprised of a combination of skills business leaders leverage to lead entire companies.
Whether you’re the VP of Marketing or informally viewed as a leader within your team, it’s vital as a leader that you know how to help others achieve a common goal.
Here, we asked Black business leaders across a variety of industries what they’ve learned about leading a Black-owned business. Keep reading to learn what they had to say.
1. Know Your Numbers
“Know your numbers,” says Kimberly Bryant (@6Gems), Founder & CEO of Black Girls Code, whose mission centers around a very big number: Empowering 1 million young women of color, ages 7-17, “to become innovators in STEM fields”, by 2040.
Knowing your numbers is key to measuring the growth of your business and securing investments.
Bryant recommends “[understand] your reach, customer conversion metrics, revenues, and expenses front to back.”
Hiring a professional is also highly recommended, but doesn’t negate a business leader’s responsibility to “understand the intricacies of your business finances. This will help you lead and drive your organization forward through storms and triumphs.”
2. Strengthen Emotional Intelligence
During the growing pains of any business, it becomes increasingly important for leaders to manage their emotions.
“Emotional intelligence will make or break your leadership journey with your team and clients,” says Sherrell Dorsey (@sherrell_dorsey), founder of TP Insights, a newsletter on Black founders and innovations that has grown into investigating and reporting on Black tech trends, stories, and breaking news.
Black business owners are subject to harsh and even humiliating experiences fueled by racism and sexism on top of the everyday challenges of building a business.
When the work gets frustrating and tempers run hot, Dorsey cautions, “It’s a life-long journey to learn the art of mastering ourselves to navigate challenging times and lead when we feel the weight of the world, but exercising that EQ muscle will shape our forward trajectories when we invest in it frequently and ruthlessly.”
The Harvard Business review backs this up, with emotional intelligence accounting for “nearly 90 percent of what sets high performers apart from peers with similar technical skills and knowledge.”
3. Practice Self-Care
One way to build emotional intelligence is through self-care — as the common saying goes, “Always put on your own oxygen mask first.”
As a long-time serial entrepreneur and industry leader, Wayne Sutton (@WayneSutton), founder of The Icon Project — a company that addresses mental health and professional development needs for Black & Brown men in the tech industry — says, “You need to practice self-care to be emotionally prepared to lead others,” says Sutton.
It’s hard …read more
Source:: HubSpot Blog
