The Best Black Business Advice We Got This Year

This story is part of our Start. Build. Grow. series, a celebration of Black business.This year, we talked to some of the most influential Black entrepreneurs in the game for our exclusive business series, Securing the Bag. And while they shared way too much good advice to list here, we thought we’d end the year by looking back at some of the nuggets of wisdom they dropped that can help you no matter what industry you’re in.

So whether you’re looking to level up in work or in life in 2024, check out some the best advice we got from Black entrepreneurs this year.

Business ideas are a dime a dozen, which is why, as BLK & Bold CEO Pernell Cezar told us, it’s important to know why yours is worth working on. In an August conversation, he said it’s important to be your own North Star and bring yourself back to your purpose when times get tough.

“I think it’s really important that if you don’t know what your why is, to make sure you take inventory on [whether] you are pathing yourself to discover that. And it does come from digging within and maybe going deeper on your own journey to discover what resonates with you the most,” he said.

Since launching her business in 2014, Harlem Candle Company Founder and CEO Teri Johnson has seen amazing growth. Her products are available at well-known retailers like Macy’s, Nordstrom’s and Bloomingdale’s around the country.

In a November conversation, Johnson told us one of the biggest keys to her success has been listening to the needs of her customers. Their feedback has helped her make some major business decisions, including the decision to expand her product offering to include perfumes.

On the path to success, sometimes you can be the biggest obstacle in your own way. Writer/director Nia DaCosta says haters are gonna hate, but you have to know how to silence them – even if the biggest hater is you.

“If you want to be a writer, write. If you want to be a director, find a way to direct. If you direct but don’t write, find a writer who doesn’t direct,” she said. “Find your collaborators and make work no matter what it looks like, because [work] is really what we want to do.”

She recommends finding ways to quiet the voice inside your head telling you you don’t belong, because it’s not real. And she adds that sometimes, that voice can be even louder for women of color.

If your partner in business is also your partner in life, it can be hard to keep the two worlds separate. But as Married to Real Estate stars Egypt Sherrod and Mike Jackson told us, working on the relationship has to be a priority.

“We say it all the time, if we don’t work, nothing else is going to work,” Jackson said. “We continue to date to make sure we continue to like each other, so we don’t become just two adults who are partners and parents. We continue to be lovers as well.” Sherrod adds that before getting in too deep, they talked about limits and when they would decide it was time to pull out.

Scotch Porter CEO Calvin Quallis developed the idea for his men’s self-care products in his New Jersey kitchen. These days, his products are sold in Target stores across the country. But Quallis continues to use his experience and resources to help others.

As an Entrepreneur in Residence through Target’s Accelerator Program, he’s mentored other entrepreneurs with products in development. And last year, the company launched the Scotch Porter Impact Fund, which donates two percent of the company’s online sales to initiatives focused on underserved groups.

“People want more from brands than just great products, so our business has been built around providing customers with the chance to live their best, most fulfilled lives,” he said.