Despite the economic uncertainty caused by the COVID-19 pandemic, 88% of black and Latino entrepreneurs in the United States have recorded unprecedented performance in their businesses in the last 12 months. While nearly nine in 10 entrepreneurs met or exceeded their performance expectations last year, almost all worry it was due to increased short-term attention. 73% experienced moderate to significant business growth, and 77% anticipate additional growth during 2022 compared to 2021. 

Black business owners are subjected to harsh and even humiliating experiences fueled by racism and sexism on top of the daily challenges of building a business. While 88% said a strong focus on racial equity had increased the attention to their business, this has allowed them to invest in their business in ways they might not have otherwise through product innovation, infrastructure improvement, and hiring. Our one such victor is Garnett Phillip, one of the most inspiring entrepreneurs, mother, and wife from Brooklyn, NYC, and a proud owner of The Rogers Garden- a Rum Bar located in the heart of Brooklyn.

 Nevertheless, the brutal reality is that nothing was handed to Garnett. She was made to understand the meaning of blood, sweat, and tears. Yes, that’s Garnett Phillip for you- a woman who has carved her niche as a successful entrepreneur despite the uphill battle she has been through. Today, Garnett stands proud, and so we are!

Garnett Phillip owes her success to resources, advice, institutional support in the early stages, better representation among decision-makers, and support from her community. This is how she emerged as one of the steadfast black-owned business initiators.

Garnett Phillip tells how Black Business Owners can Thrive in NYC but Need Greater Resources

COVID-19 has caused a reduction in business for many entrepreneurs in schedule changes, a decrease in the number of clients, and closures. Black entrepreneurs have been hit especially hard by the pandemic: In the first five months, business ownership for this group fell at a faster rate. Meanwhile, the social unrest that followed the police killings of black people like George Floyd has seen local businesses suffer additional damage. Business owners of color grapple with the mental anguish of seeing others like them lose their jobs and lives.

We African Americans make up 44% and 15% of New York’s population, respectively, but own only 6% and 4% of employers in the city and 30% and 13% of non-employers. The local focus in recent years has been on encouraging these entrepreneurs, both by the city federation and other institutions and community efforts. Still, we often hear in our reports that funding opportunities, networks, and other resources are harder to access if you’re a person of color.

Garnett Phillip Speaks of the Challenges she Faced Growing her businesses in NYV in 2020

Garnett Phillip explains support and growth are what she needed most. And why not?

 Some adversities emerged from the pandemic, some related to the past year’s difficulties, and others were more systemic. They said it had been consistently difficult to gain access to capital. Other founders pondered how they could achieve further growth after initial success. For many, staying solvent amid a pandemic became their biggest challenge. And they were dealing with the social upheaval that had been brewing for years provided an additional layer of duress.

As the virus raged, Garnett made a surreal entry into the lives of people used to working on their terms and now thrown into new circumstances that present something of an existential crisis. Conversations about their career path sometimes turned emotional and even sad as she discussed the systemic inequities that might have prevented them from succeeding.

Garnett sees resources for African-American entrepreneurs, and successful Latinos already exist. They aren’t affordable or visible enough for everyone who needs them. The organizations that provide these resources must work to meet the needs. Finding ways to vend when African Americans and their allies needed a tangible sense of community was a challenge she worked quickly to solve.

Garnett Recalls Institutional Support in the Early Stages

Having access to chambers of commerce and other professional organizations in the earliest stages of business planning can be a huge advantage for Black and Latino entrepreneurs striving for success.

Garnett Philip of The Rogers Garden is a magical retreat to connect, have fun, relax, and enjoy the Caribbean vibes. It is Garnet’s passion to reap the island vibes in NYC. However, she wishes she had known about the benefit of social media when The Rogers Garden was still in the planning stages — an aspect to consider.

“What Challenges have you Overcome, and what Challenges do you Still Face?

I have come across performativity, diversity, equity, and inclusion, where stakeholders have discovered that it is their burden to devote time and resources to these initiatives. 

Garnett says, celebrate your success! Don’t look back, and keep learning, believing, and exploring

 My work focuses on the co-creation of leadership, life management, and entrepreneurship and every day is worth it.

Shout out the positives and praise a new idea as loudly as possible. Provide constructive feedback in private and help improve the product with real thoughts and suggestions. Nothing beats getting a new customer or finding a way to improve your product or service.

Garnett knows that Black entrepreneurs face more barriers than the average business owner, particularly when it comes to financing. In fact, due to systemic barriers, black-owned businesses tend to generate less revenue than their white counterparts. Solutions to this problem could include better and more equitable financial instruments, such as micro-credit to support the growth and viability of these businesses. And she thinks the ecosystem can help change this.

Black founders are over-oriented and under-funded.

 In addition to funding, underrepresented (early-growth) founders need belief offered to other founders, follow-on investments, introductions, resources, and a safe space to air issues. Garnett figured out how to do so much with so little and leveraged all help to focus solely on revenue, success, and customer case studies. 

Garnett Philip Sets her Rules to Accomplish an Entrepreneurial Mindset

So what are the advantages of entrepreneurship? The experience of responsibility, despite representing challenges, is very enriching on a professional and personal level. Garnett Philip tells the reaping benefits:

• It offers the possibility of developing a rewarding career that will fill you with pride.
• Allows you to perform with autonomy and flexibility by choosing the time and place of work.
• Opportunity to acquire valuable leadership experiences.
• Building a beneficial network of contacts
• You can apply your creativity. 

What is the Entrepreneurial Mindset?

Garnett says an entrepreneurial mindset is the set of skills that enable you to identify and make the most of opportunities and overcome and learn from setbacks to achieve success in a variety of settings.

Whether you are looking to create or grow your own business or want to join a company, having an entrepreneurial mindset is essential. Employers value the entrepreneurial mindset, allowing you to increase your achievements and even your academic performance. 

How to Achieve an Entrepreneurial Mindset?

To be successful, entrepreneurs always seek to be clear about their objectives. They carry out planning and capture them to keep them in mind. They also constantly evaluate their strategies and decisions to ensure they are on the right track. Try to keep your goals in mind and establish systems to achieve them.

Entrepreneurs recognize that time is their most valuable resource, so they protect and manage it effectively. To plan your business, you must start with yourself. Plan ahead to increase your achievements.

When establishing, implementing, and evaluating strategies, always keep in mind the results you want to achieve. This will allow you to have extraordinary clarity and keep moving forward regardless of obstacles

Most people make life and career decisions based on emotions and assumptions. Outstanding entrepreneurs base their decisions on facts.

Try to access the largest amount of reliable information about your business and make accurate decisions based on data and real facts.

An important difference between successful entrepreneurs and those who are not so successful is that the former are convinced of offering products and services of great value to their clients. This allows them to tirelessly strive to make their business benefit as many people as possible and recognize its significance for the community around them.

Entrepreneurs know the importance of being efficient, so they have a constantly evolving mentality to adapt to market changes. They continuously educate themselves and gain experiences that will lead them to the goals they set for themselves. This gives a confidence boost and higher self-esteem.

Entrepreneurs, especially those who are starting, know that they have limited resources, and that is why they learn to focus their efforts on clear objectives and avoid dispersion at all costs.

 As some goals are achieved, or more resources are obtained, some entrepreneurs end up dispersing their efforts, and it is at this point that some of their companies become stagnant.

Some entrepreneurs make the mistake of believing that they must develop their businesses individually. The reality is that the help of a mentor or a friend, or a business associate to achieve your goals can greatly accelerate your progress.

Self-knowledge is Probably one of the Most Important Strengths of Garnett Phillips

Garnett pointed out that self-knowledge translates into valuing yourself more. This allows you to become an expert in the area of your choice. If you do not understand and respect yourself, no one else certainly will. After all, those who understand and appreciate themselves are better able to understand and appreciate others.

Garnett Phillips deems fostering relationships with her co-players to help them become positive action leaders. 

 

Owning a house is anyone’s ultimate dream. However, the circumstances don’t work in everyone’s favor, and hence many people opt for renting a place. But what if we said that renting a house is a better option than buying your own house? It is no secret that the ever-rising inflation has made almost everyone’s life challenging. Though a section of society prefers investing in their own house, many usually opt for a rented space as it is easier on their pockets, helps improve their finances and, most importantly, saves them a lot of money. 

Whether you are planning to sell or buy a house or are on the lookout for a rented house, it is essential to seek consultation with an expert financial advisor before taking the plunge. Joshua Krafchick is one such person who can show you the right path if you have set your heart on renting a house. Apart from that, he can help you make the right decision if you want to sell your house and explain the nuances of renting a space and how it is better than owning a house. 

The best part is that Krafchick provides his clients with various options that suit the customers’ existing financial profiles while keeping an eye on the future. When it comes to building strategies, he is the perfect man for the job as he will explain in detail which option will be more profitable to the customer in the long run. To put it in simple words, he will help you increase your savings.

Money and finances are extremely complicated topics, and although we all want to be experts, many people often get lost in all the technicalities and sometimes end up losing money. In this case, a qualified financial advisor can advise you on how to break down the complicated mesh of the financial world along with helping you make good decisions.

Having studied Actuarial Science, he is an expert in assessing financial risks in the insurance and finance fields through mathematical and statistical methods. He knows how to use the mathematics of probability and statistics to help him analyze the financial implications of uncertain future events. This knowledge gives Krafchick an edge over others, and he is able to provide financial advice and guidance to those who need it the most. 

So, it won’t be an understatement to say that he is the go-to person if you are planning to rent a house. He will not only give you financial advice but will also tell you how to manage money to reach realistic financial goals. Moreover, he will help you find a rented place that you can afford and still save money. Now that’s certainly a great deal!

While there are advantages of buying a house, similarly, renting a house also has its fair share of pros. For starters, tenants don’t have to spend on repairs and maintenance of the house; this is the landlord’s responsibility entirely. All you have to do is call the landlord and get the work done without putting a dent in your wallet. Sometimes owning a house often means you are carrying deadweight capital. Therefore, Krafchick also guides homeowners going through a monetary crisis to sell their homes and opt for renting a house, along with how the saved amount can be used appropriately.

When one goes to rent a space, they get many amenities within the rent and, as a result, they tend to lead a better and more comfortable life. In fact, when looking around for a rented apartment or house, you have the freedom to choose what you prefer. Renting a place means you don’t have to give a huge amount like down payment for the house, which is definitely a plus. As a renter, you pay a security deposit and the first and last month’s rent – which, compared to the down payment, is relatively lesser, and you don’t have to pay a big chunk of money all at once. 

As an expert in the field, Joshua Krafchick knows the market in and out and hence can assist you in bargaining and not paying too much for something that is not worth it. He can help select a rented space in a location that meets the customers’ requirements. This is surely an advantage that renters have as they can choose to live wherever they want. Just make sure to trust your financial advisor when they tell you when is an excellent time to sell the house and how renting a house is easy on the economy.

Do you have a degree and are seeking for a job that is related to your field? By brushing up on your knowledge, you’ll have a better shot of getting a job and improving your odds of landing one. For fresh graduates who are eager to make their first steps in the corporate world, here are some pointers with some additional hints on how to get started. The majority of the job hunting resources you’ll find online are in blog form, but that’s not always a bad thing. Some fantastic advice will be given, but it will be pared down to just a few layers.

The neighbourhood book shop is the finest spot to delve further into career-advancing ideas. We’ve put together a list of some of the best books for graduate students looking for a job:

Resume Magic

However, a resume or CV is still an essential part of any job search in the current digital world. The author of this book is a resume-writing expert. In this book, you will learn how to transform your resume from a dry, factual document into a very engaging and entertaining one.

Around 600 pages are in the book. In other words, if you want your CV to be the most interesting to hiring managers, you’ll need a lot of space. With this book, you will be able to write an impressive CV on your own.

The Ultimate Guide to Job Interview Answers

Four novels are included in the bundle. A primary goal of the course is to help you become fully prepared for some of the most difficult interviews you will ever face. Two volumes of interview questions are included at the book’s beginning. An interviewer’s perspective is explained in detail in the book’s designated chapters. An example response is also given. In addition to this, you’ll get helpful advice on the most popular interviewing methods.

Volume three of the book contains advice on how to approach the interviewers and what questions you should be asking them. The last portion focuses on telephonic interviews and video-based interviews, which are discussed in more detail.

What Colour is Your Parachute?

More than 10 million copies of the title have been sold. Additionally, the title is revised every year. It is Boles’ goal in this motivational book to provide as much detail as possible on how to obtain the job of your dreams. If you’re looking for career advice, you’ve come to the right place with this book. Aside from that, this book was considered to be among the first volumes to provide readers guidance on how to get a job in the workforce.

Never Eat Alone and Other Secrets to Success

If you want a successful job, you must pay attention to your interpersonal interactions. To be successful in both your professional and personal life, you need to pay attention to such details whether you’re mingling with colleagues or doing business with customers. Using the Dalai Lama and Bill Clinton as examples of influential people, the author of the book goes on to illustrate how you, too, may put these tactics to work for yourself.

If you need to build a network or achieve influence in your job, this book is a must-read. Advice given in the book may easily be implemented into one’s daily routine. Inquiring minds want to know: Are you an introvert who struggles to maintain social ties? Even if you don’t feel like talking to someone right now, the title of this book will make it easier to do so in the future.

Getting Things Done -The Art of Stress-free Productivity

The overarching goal is to increase your productivity in all areas of your life. In today’s highly competitive economy, it is imperative that businesses maximize their productivity.

Since then, the book has been reissued many times. Allen went ahead and rewrote the book’s title to give it a more contemporary and emotional feel. Personal, organizing abilities, or if you are feeling overwhelmed in your personal life or work, you may use this book to bring things under control.

The Confidence Code

If you’re feeling overwhelmed by the rise of powerful males in the business world, then this book is for you. The author discusses a variety of methods in which women might build their confidence in the workplace.