Tips For Urban Entrepreneurs from Bryan-Michael Cox
Want to start your own catering business? Finally ready to get your bridal company off the ground? Need the money and a bit of mentoring to make it happen? Recently producer/songwriter Bryan-Michael Cox took a studio break to tell Heart & Soul about his involvement with 100 Urban Entrepreneurs. Pulling on years of experience, Cox serves as a board member and mentor with the organization, which is giving $10,000 each to 100 start-ups. From how to make business pitches pop to how to keep your company running, Bryan-Michael Cox shares the keys to success.
Heart & Soul: This sounds like a great initiative. How did you get involved with 100 Urban Entrepreneurs?
Bryan-Michael Cox: I got involved with the program via a great friend, Angela Mack and another good friend of mine, Luke. They introduced me to Dan Carriere, who’s actually the person that’s funding the whole thing, and we just clicked. They started this wonderful program and they pulled me in, it’s been a really gratifying experience.
H & S: What separates 100 Urban Entrepreneurs from other programs that provide funding for start-ups?
We don’t just give money. The mentor piece is what we’re really big on. The program is really about mentorship; we’re not just giving $10,000 away.
How can someone make their application stand out?
Be original and be thorough. Whatever you want to do from a business perspective, do your research. See what your price points are, see what supplies you need, and know how you’re going to make the money back. A lot of times people come up with a business plan and don’t really write out how they’re going to get the money back.
Starting and running your own business is no easy feat, what are some keys to success?
Do your research on whatever you’re trying to build and trying to start, that’s the key. You’ve got to be the smartest and you’ve got to be the best. In business you’ve really got to cross the ‘t’s and dot the ‘i’s. Then people can’t tell you nothing about what you want to do. But whatever you do be thorough and do the research. Study your business, live your business, and know your business.
In the “Handle Your Business” video series you say that when you started in the industry, you didn’t really look at your writing and producing like a business. What would you tell people who are having trouble seeing their passion in terms of profit?
Most things that you’re passionate about you would do for free, but you have to make your money. It’s also part of understanding the whole picture. I’m pretty sure that whatever you are passionate about there is a business attached to it. It’s easy to get lost in the creative part of your mind because you are in love with what you do, but you always have to keep that business component at the front of your mind.
Any last tips or pointers?
If you are having problems, or even if things are going well, get a mentor. Mentorship is essential.
For more information, visit www.thecashflow.com.