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Subject: "80% of all Businesses fail in Five Years" This topic is locked.
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M2
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Mon Jul-21-03 02:27 AM

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27. "80% of all Businesses fail in Five Years"
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-Not all Business in a Black Community are run by Blacks, nor do all Blacks in a community derive their income from that community in terms of a job, so it will take more than spending Black to sustain a community.

Education which leads to better job opportunities, which leads to more income is the key.

Furthermore, like K_orr said, we need to build large scale companies, local mom and pops won't constitute a large scale "Black Economic" infrastructure.

Something to consider though - the Fortune 500 is by and large controlled by and owned by WASPS, not Jews or Asians - yet both are significant economic forces as ethnic groups.

The reason, is due to the collective economic strength of their professional class, financial management habits and the fact that some (not all or a majority) of them own what is considered a "Small or Medium Sized Business" by say a Financial Analyst or Business Publication.

See, when CNBC, the Wall St. Journal, or Fortune is talking about small Business, they mean companies raking in 1-3 Million per year that's the market that Amex is going after when you see those commercials for the Small Business Card. The small business we think of is what they would call a Mom & Pop.

The companies on the Black Enterprise 100s lists - are basically small companies/small businesses in the overall context of Corporate America - those are the kinds of business we need to think about building - where we're pulling in EVERYONE's money.

Look at the lists for Asset Management Firms: http://www.blackenterprise.com/BE100s.asp?Source=Assets03

Or the ones for Investment Banks & Private Equity firms - who do you think their customers are?

These companies are leading the way in terms of building a Black Owned large-scale corporate infrastructure and these "power-economics" cats never mention them. Sad since they're the leaders of the pack AND are ideal places for Black Professionals to work.

Furthermore - moving our spending from one place to another is not going to help us, but reducing our spending by 5-15% per year and saving/investing that money instead.......

.......will create anywhere from 400 Billion to 1.3 trillion in Black wealth over the next 10 years.

All by reducing our spending as a people by 5-15% percent - doesn't even take into account the fact that as a group, the incomes of Black people are rising faster than anyone elses.

Considering that 80% of all Businesses fail - that not all of us can even start a business, as you not only need loans to start the business, but cash to support yourself while the business gets going - BUT that the 2/3 of us who are Middle Class can definitely spend 5-15% less per month by being more frugal......

.......which is the better strategy?

Even if you do start a business of your own at one point - consider this: I've got a copy of Fortune on my Desk with a white dude on it with a big ass grin. He got laid off from his job, but had more than enough money to maintain his lifestyle for a year, while he took 25k out of his savings and started a business with 12 partners (who each also put in 25k) - now he's running a rapidly growing 3 Million Dollar Company.

Save, Invest, Plan and Wait - that's the key to wealth.




Peace,








M2

The Blog: http://www.analyticalwealth.com/

An assassinís life is never easy. Still, it beats being an assassinís target.

Enjoy your money, but live below your means, lest you become a 70-yr old Wal-Mart Greeter.

  

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Does black america have real wealth? [View all] , Chris40, Fri Jul-18-03 08:55 AM
 
Subject Author Message Date ID
The Real Issue
Jul 18th 2003
1
So M2
Jul 19th 2003
2
My beef with M2's
Jul 19th 2003
3
Wealth Building is Simple Math
Jul 19th 2003
7
the east indian community in houston
Jul 19th 2003
4
RE: the east indian community in houston
Jul 19th 2003
5
Based on What?
Jul 19th 2003
8
      I guess you have to see it to understand
Jul 19th 2003
9
           Okay.......
Jul 19th 2003
10
                lol
Jul 19th 2003
14
                     Abandon Fantasy
Jul 19th 2003
15
Missing the Point Entirely
Jul 19th 2003
6
At the risk of sounding ignorant..
Jul 20th 2003
18
      It wasn't meant as a Rebuttal
Jul 20th 2003
22
RE: So M2
Jul 19th 2003
11
Excellent Points
Jul 19th 2003
12
RE: So M2
Jul 20th 2003
17
      not nearly on the same level
Jul 20th 2003
20
RE: The Real Issue
Jul 20th 2003
16
Which only enriches certain individuals
Jul 20th 2003
23
      RE: Which only enriches certain individuals
Jul 21st 2003
28
RE: The Real Issue
Jul 21st 2003
30
      Prove me Wrong
Jul 21st 2003
31
In my center
Jul 19th 2003
13
the trend of convergence.
Jul 20th 2003
19
      RE: the trend of convergence.
Jul 20th 2003
21
           can u elaborate
Jul 22nd 2003
32
                RE: can u elaborate
Jul 22nd 2003
33
                     Further
Jul 23rd 2003
37
                          RE: Further
Jul 23rd 2003
38
the main issue
Jul 20th 2003
24
ding ding ding
Jul 22nd 2003
34
Defining Wealth Building
Jul 20th 2003
25
great post M2
Jul 22nd 2003
35
      Seek and you shall find
Jul 22nd 2003
36
nice read
Jul 20th 2003
26
I USED THE WRONG TITLE TO THIS TREAD!!!!
Jul 21st 2003
29

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